Balanced Portfolio.
Defensive Industries.
Well Diversified.

ARCC Portfolio

As of March 31, 2023, Ares Capital Corporation’s (“Ares Capital” or “ARCC”) portfolio had a fair value of approximately $21.1 billion, and consisted of 466 portfolio companies backed by 218 different private equity sponsors. Ares Capital has a diversified portfolio in terms of issuer concentration, asset class, industry sector and geographic representation.

Portfolio Composition

*Snapshot as of March 31, 2023⁽¹⁾

Issuer Concentration Composition


Asset Class Composition


Industry Composition


Geographic Composition


(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

Investments as of March 31, 2019 Investments as of December 31, 2022
Company/DescriptionRegionSenior Secured Loan*Senior SubordinatedEquity/OtherIndustry
Priority Holdings, LLC and Priority Technology Holdings, Inc.

Provider of merchant acquiring and payment processing solutions

SoutheastDiversified Financials
Pritchard Industries, LLC and LJ Pritchard TopCo Holdings, LLC

Provider of janitorial and facilities management services

Mid AtlanticCommercial & 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 AtlanticMedia & Entertainment
Professional Fighters League, LLC and PFL MMA, Inc.

Mixed martial arts league

Mid AtlanticMedia & Entertainment
ProfitSolv Purchaser, Inc. and PS Co-Invest, L.P.

Provider of practice management software to law firms

MidwestSoftware & Services
Project Alpha Intermediate Holding, Inc. and Qlik Parent, Inc.

Provider of data visualization software for data analytics

Mid AtlanticSoftware & Services
Project Essential Bidco, Inc. and Project Essential Super Parent, Inc.

Saas provider of automated crew callout and scheduling software for the utility industry

MidwestSoftware & Services
Project Potter Buyer, LLC and Project Potter Parent, L.P.

Software solutions provider to the ready-mix concrete industry

SoutheastSoftware & Services
Project Ruby Ultimate Parent Corp.

Provider of care coordination and transition management software solutions

MidwestHealth Care Services
Proofpoint, Inc.

Cybersecurity solutions provider

WestSoftware & Services
PS Operating Company LLC and PS Op Holdings LLC

Specialty distributor and solutions provider to the swine and poultry markets

MidwestCommercial & Professional Services
Pueblo Mechanical and Controls, LLC and OMERS PMC Investment Holdings LLC

Provider of commercial HVAC services

WestConsumer Services
Pyramid Management Advisors, LLC and Pyramid Investors, LLC

Hotel operator

NortheastConsumer Services
QF Holdings, Inc.

SaaS based electronic health record software provider

SoutheastSoftware & Services
Qnnect, LLC and Connector TopCo, LP

Manufacturer of highly engineered hermetic packaging products

Mid AtlanticCapital Goods
R2 Acquisition Corp.

Marketing services

WestCommercial & Professional Services
Radius Aerospace, Inc. and Radius Aerospace Europe Limited

Metal fabricator in the aerospace industry

SoutheastCapital Goods
Radwell Parent, LLC

Distributor of maintenance, repair, and operations parts

Mid AtlanticCapital 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

MidwestSoftware & Services
Rawlings Sporting Goods Company, Inc. and Easton Diamond Sports, LLC

Sports equipment manufacturing company

MidwestConsumer Durables & Apparel
RB Holdings InterCo, LLC

Manufacturer of pet food and treats

WestFood & Beverage
RC V Tecmo Investor LLC

Technology based aggregator for facility maintenance services

SoutheastCommercial & Professional Services
RD Holdco Inc.

Manufacturer and marketer of carpet cleaning machines

MidwestHousehold & Personal Products
RE Community Holdings GP, LLC and RE Community Holdings, LP

Operator of municipal recycling facilities

SoutheastCommercial & Professional Services
RealPage, Inc.

Provider of enterprise software solutions to the residential real estate industry

MidwestSoftware & Services
Reddy Ice LLC

Packaged ice manufacturer and distributor

MidwestRetailing and Distribution
Redwood Services, LLC and Redwood Services Holdco, LLC

Provider of residential HVAC and plumbing services

SoutheastConsumer Services
Reef Lifestyle, LLC

Apparel retailer

WestConsumer Durables & Apparel
Regent Education, Inc.

Provider of software solutions designed to optimize the financial aid and enrollment processes

Mid AtlanticSoftware & Services
Registrar Intermediate, LLC and PSP Registrar Co-Investment Fund, L.P.

Provider of FDA registration and consulting services

Mid AtlanticCommercial & Professional Services
Relativity ODA LLC

Electronic discovery document review software platform for use in litigations and investigations

MidwestSoftware & Services
Repairify, Inc. and Repairify Holdings, LLC

Provider of automotive diagnostics scans and solutions

MidwestTechnology Hardware & Equipment
Research Now Group, LLC and Dynata, LLC

Provider of outsourced data collection to the market research industry

SoutheastCommercial & Professional Services
Revalize, Inc.

Develops and operates software providing configuration, price and quote capabilities for sales teams

SoutheastSoftware & Services
RF HP SCF Investor, LLC

Branded specialty food company

Mid AtlanticFood & Beverage
Rialto Management Group, LLC

Investment and asset management platform focused on real estate

SoutheastDiversified Financials
Riser Merger Sub, Inc.

Insurance program administrator

Mid AtlanticInsurance Services
Riverview Power LLC

Operator of natural gas and oil fired power generation facilities

NortheastPower Generation
RMS HoldCo II, LLC & RMS Group Holdings, Inc.

Developer of revenue cycle management solutions, process automation, analytics and integration for the healthcare industry

MidwestSoftware & Services
Rodeo AcquisitionCo LLC

Provider of food inspection and recovery services

MidwestCommercial & Professional Services
RSC Acquisition, Inc. and RSC Insurance Brokerage, Inc.

Insurance broker

NortheastInsurance Services
RTI Surgical, Inc. and Pioneer Surgical Technology, Inc.

Manufacturer of biologic, metal and synthetic implants/devices

SoutheastHealth Care Services
Rug Doctor, LLC and RD Holdco Inc.

Manufacturer and marketer of carpet cleaning machines

MidwestHousehold & Personal Products
Rugby Australia Ltd

Owner and manager of Australian rugby teams

InternationalMedia & Entertainment
S Toys Holdings LLC (fka The Step2 Company, LLC)

Toy manufacturer

MidwestConsumer 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

NortheastConsumer Services
SageSure Holdings, LLC & Insight Catastrophe Group, LLC

Insurance service provider

Mid AtlanticInsurance 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

MidwestCommercial & Professional Services
SCI PH Parent, Inc.

Industrial container manufacturer, reconditioner and servicer

SCIH Salt Holdings Inc.

Salt and packaged ice melt manufacturer and distributor

MidwestRetailing 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

InternationalInsurance Services
SE1 Generation, LLC

Solar power developer

SoutheastPower Generation
SelectQuote, Inc.

Direct to consumer insurance distribution platform

MidwestInsurance Services
Senior Direct Lending Program, LLC

Co-investment vehicle

WestSenior Direct Lending Program, LLC
SERV 2020-1

Provider of restoration and cleaning services to commercial and residential customers

SoutheastConsumer Services
Service Logic Acquisition, Inc. and MSHC, Inc.

Heating, ventilation and air conditioning services provider

SoutheastCommercial & 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.