(1) At fair value.
(2) Represents ARCC's portion of its co-investments with Varagon Capital Partners and its clients in first lien senior secured loans to U.S. middle-market companies. As of March 31, 2023, the Senior Direct Lending Program, LLC (the "SDLP") had loans to 22 different borrowers. The portfolio companies in the SDLP are in industries similar to companies in ARCC's portfolio.
(3) Includes ARCC's investment SDLP, which represented 5.98% of the total investment portfolio at fair value as of March 31, 2023.
(4) Includes ARCC's equity and subordinated loan investments in IHAM, which represented 11% of the total investment potfolio at fair value as of March 31, 2023.
Portfolio of Investments
| Company/Description | Region | Senior Secured Loan* | Senior Subordinated | Equity/Other | Industry |
|---|---|---|---|---|---|
| Priority Holdings, LLC and Priority Technology Holdings, Inc. Provider of merchant acquiring and payment processing solutions | Southeast | Diversified Financials | |||
| Pritchard Industries, LLC and LJ Pritchard TopCo Holdings, LLC Provider of janitorial and facilities management services | Mid Atlantic | Commercial & Professional Services | |||
| Production Resource Group, L.L.C. and PRG III, LLC Provider of rental equipment, labor, production management, scenery, and other products to various entertainment end-markets | Mid Atlantic | Media & Entertainment | |||
| Professional Fighters League, LLC and PFL MMA, Inc. Mixed martial arts league | Mid Atlantic | Media & Entertainment | |||
| ProfitSolv Purchaser, Inc. and PS Co-Invest, L.P. Provider of practice management software to law firms | Midwest | Software & Services | |||
| Project Alpha Intermediate Holding, Inc. and Qlik Parent, Inc. Provider of data visualization software for data analytics | Mid Atlantic | Software & Services | |||
| Project Essential Bidco, Inc. and Project Essential Super Parent, Inc. Saas provider of automated crew callout and scheduling software for the utility industry | Midwest | Software & Services | |||
| Project Potter Buyer, LLC and Project Potter Parent, L.P. Software solutions provider to the ready-mix concrete industry | Southeast | Software & Services | |||
| Project Ruby Ultimate Parent Corp. Provider of care coordination and transition management software solutions | Midwest | Health Care Services | |||
| Proofpoint, Inc. Cybersecurity solutions provider | West | Software & Services | |||
| PS Operating Company LLC and PS Op Holdings LLC Specialty distributor and solutions provider to the swine and poultry markets | Midwest | Commercial & Professional Services | |||
| Pueblo Mechanical and Controls, LLC and OMERS PMC Investment Holdings LLC Provider of commercial HVAC services | West | Consumer Services | |||
| Pyramid Management Advisors, LLC and Pyramid Investors, LLC Hotel operator | Northeast | Consumer Services | |||
| QF Holdings, Inc. SaaS based electronic health record software provider | Southeast | Software & Services | |||
| Qnnect, LLC and Connector TopCo, LP Manufacturer of highly engineered hermetic packaging products | Mid Atlantic | Capital Goods | |||
| R2 Acquisition Corp. Marketing services | West | Commercial & Professional Services | |||
| Radius Aerospace, Inc. and Radius Aerospace Europe Limited Metal fabricator in the aerospace industry | Southeast | Capital Goods | |||
| Radwell Parent, LLC Distributor of maintenance, repair, and operations parts | Mid Atlantic | Capital Goods | |||
| Raptor Technologies, LLC, Sycamore Bidco LTD and Rocket Parent, LLC Provider of SaaS-based safety and security software to the K-12 school market | Midwest | Software & Services | |||
| Rawlings Sporting Goods Company, Inc. and Easton Diamond Sports, LLC Sports equipment manufacturing company | Midwest | Consumer Durables & Apparel | |||
| RB Holdings InterCo, LLC Manufacturer of pet food and treats | West | Food & Beverage | |||
| RC V Tecmo Investor LLC Technology based aggregator for facility maintenance services | Southeast | Commercial & Professional Services | |||
| RD Holdco Inc. Manufacturer and marketer of carpet cleaning machines | Midwest | Household & Personal Products | |||
| RE Community Holdings GP, LLC and RE Community Holdings, LP Operator of municipal recycling facilities | Southeast | Commercial & Professional Services | |||
| RealPage, Inc. Provider of enterprise software solutions to the residential real estate industry | Midwest | Software & Services | |||
| Reddy Ice LLC Packaged ice manufacturer and distributor | Midwest | Retailing and Distribution | |||
| Redwood Services, LLC and Redwood Services Holdco, LLC Provider of residential HVAC and plumbing services | Southeast | Consumer Services | |||
| Reef Lifestyle, LLC Apparel retailer | West | Consumer Durables & Apparel | |||
| Regent Education, Inc. Provider of software solutions designed to optimize the financial aid and enrollment processes | Mid Atlantic | Software & Services | |||
| Registrar Intermediate, LLC and PSP Registrar Co-Investment Fund, L.P. Provider of FDA registration and consulting services | Mid Atlantic | Commercial & Professional Services | |||
| Relativity ODA LLC Electronic discovery document review software platform for use in litigations and investigations | Midwest | Software & Services | |||
| Repairify, Inc. and Repairify Holdings, LLC Provider of automotive diagnostics scans and solutions | Midwest | Technology Hardware & Equipment | |||
| Research Now Group, LLC and Dynata, LLC Provider of outsourced data collection to the market research industry | Southeast | Commercial & Professional Services | |||
| Revalize, Inc. Develops and operates software providing configuration, price and quote capabilities for sales teams | Southeast | Software & Services | |||
| RF HP SCF Investor, LLC Branded specialty food company | Mid Atlantic | Food & Beverage | |||
| Rialto Management Group, LLC Investment and asset management platform focused on real estate | Southeast | Diversified Financials | |||
| Riser Merger Sub, Inc. Insurance program administrator | Mid Atlantic | Insurance Services | |||
| Riverview Power LLC Operator of natural gas and oil fired power generation facilities | Northeast | Power Generation | |||
| RMS HoldCo II, LLC & RMS Group Holdings, Inc. Developer of revenue cycle management solutions, process automation, analytics and integration for the healthcare industry | Midwest | Software & Services | |||
| Rodeo AcquisitionCo LLC Provider of food inspection and recovery services | Midwest | Commercial & Professional Services | |||
| RSC Acquisition, Inc. and RSC Insurance Brokerage, Inc. Insurance broker | Northeast | Insurance Services | |||
| RTI Surgical, Inc. and Pioneer Surgical Technology, Inc. Manufacturer of biologic, metal and synthetic implants/devices | Southeast | Health Care Services | |||
| Rug Doctor, LLC and RD Holdco Inc. Manufacturer and marketer of carpet cleaning machines | Midwest | Household & Personal Products | |||
| Rugby Australia Ltd Owner and manager of Australian rugby teams | International | Media & Entertainment | |||
| S Toys Holdings LLC (fka The Step2 Company, LLC) Toy manufacturer | Midwest | Consumer Durables & Apparel | |||
| Safe Home Security, Inc., Security Systems Inc., Safe Home Monitoring, Inc., National Protective Services, Inc., Bright Integrations LLC and Medguard Alert, Inc. Provider of safety systems for business and residential customers | Northeast | Consumer Services | |||
| SageSure Holdings, LLC & Insight Catastrophe Group, LLC Insurance service provider | Mid Atlantic | Insurance Services | |||
| Schill Landscaping and Lawn Care Services LLC, Tender Lawn Care ULC and Landscape Parallel Partners, L.P. Provider of landscape design and planning, and snow removal services | Midwest | Commercial & Professional Services | |||
| SCI PH Parent, Inc. Industrial container manufacturer, reconditioner and servicer | Midwest | Materials | |||
| SCIH Salt Holdings Inc. Salt and packaged ice melt manufacturer and distributor | Midwest | Retailing and Distribution | |||
| SCM Insurance Services Inc. Provider of claims management, claims investigation & support and risk management solutions for the Canadian property and casualty insurance industry | International | Insurance Services | |||
| SE1 Generation, LLC Solar power developer | Southeast | Power Generation | |||
| SelectQuote, Inc. Direct to consumer insurance distribution platform | Midwest | Insurance Services | |||
| Senior Direct Lending Program, LLC Co-investment vehicle | West | Senior Direct Lending Program, LLC | |||
| SERV 2020-1 Provider of restoration and cleaning services to commercial and residential customers | Southeast | Consumer Services | |||
| Service Logic Acquisition, Inc. and MSHC, Inc. Heating, ventilation and air conditioning services provider | Southeast | Commercial & Professional Services |
*Represents investments in first lien senior secured loans (including "unitranche" loans, which are loans that combine both senior and subordinated debt, generally in a first lien position) and second lien senior secured loans.