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
SFE Intermediate Holdco LLC

Provider of outsourced foodservice to K-12 school districts

WestFood & Staples Retailing
SG Acquisition, Inc.

Provider of insurance solutions for car sales

SoutheastInsurance Services
Shermco Intermediate Holdings, Inc.

Provider of electrician services

SoutheastCommercial & Professional Services
SHO Holding I Corporation

Manufacturer and distributor of slip resistant footwear

SoutheastConsumer Durables & Apparel
Shock Doctor, Inc. and Shock Doctor Holdings, LLC

Developer, marketer and distributor of sports protection equipment and accessories

MidwestConsumer Durables & Apparel
Shur-Co Acquisition, Inc. and Shur-Co Holdco, Inc.

Provider of tarp systems and accessories for trucks, trailers, carts, and specialty equipment used in the agriculture, construction and flatbed markets

SilverBow Resources, Inc.

Oil and gas producer

SiroMed Physician Services, Inc. and SiroMed Equity Holdings, LLC

Outsourced anesthesia provider

SoutheastHealth Care Services

Collision repair site operator

MidwestAutomobiles & Components
SM Wellness Holdings, Inc. and SM Holdco, Inc.

Breast cancer screening provider

MidwestHealth Care Services
Smarsh Inc. and Skywalker TopCo, LLC

SaaS based communication archival service provider

WestSoftware & Services
SOC Telemed, Inc. and PSC Spark Holdings, LP

Provider of acute care telemedicine

Mid AtlanticHealth Care Services
SocialFlow, Inc.

Social media optimization platform provider

Mid AtlanticSoftware & Services
Sophia, L.P.

Provider of ERP software and services for higher education institutions

Mid AtlanticSoftware & Services
SoundCloud Limited

Platform for receiving, sending, and distributing music

InternationalSoftware & Services
Spirit RR Holdings, Inc. and Winterfell Co-Invest SCSp

Provider of data, analytics, news, and workflow tools to customers in the counter-cyclical distressed debt space

Mid AtlanticSoftware & Services
Spring Insurance Solutions, LLC

Technology-based direct to consumer sales and marketing platform for insurance products

MidwestInsurance Services
SSE Buyer, Inc., Supply Source Enterprises, Inc., Impact Products LLC, The Safety Zone, LLC and SSE Parent, LP

Manufacturer and distributor of personal protection equipment, commercial cleaning, maintenance and safety products

SoutheastCommercial & Professional Services
Stamps.com Inc.

Provider of mailing and shipping solutions

WestSoftware & Services
Star US Bidco LLC

Manufacturer of pumps, compressors and other highly-engineered equipment for mission-critical applications

WestCapital Goods
Startec Equity, LLC

Communication services

WestCommercial & Professional Services
Stealth Holding LLC and UCIT Online Security Inc.

Live video monitoring solutions provider

MidwestCommercial & Professional Services
Stellant Midco, LLC

Manufacturer of vacuum electron devices utilized in the amplification of microwave and radio frequency signals for military, space and commercial applications

WestTechnology Hardware & Equipment
Storable, Inc. and EQT IX Co-Investment (E) SCSP

PMS solutions and web services for the self-storage industry

InternationalSoftware & Services
Storm Investment S.a.r.l.

Spanish futbol club

InternationalMedia & Entertainment
Sun Acquirer Corp. and Sun TopCo, LP

Automotive parts and repair services retailer

WestAutomobiles & Components
Sundance Group Holdings, Inc.

Provider of cloud-based document management and collaboration solutions

WestSoftware & Services
Sunk Rock Foundry Partners LP, Hatteras Electrical Manufacturing Holding Company and Sigma Electric Manufacturing Corporation, Diecast Beacon

Manufacturer of metal castings, precision machined components and sub-assemblies in the electrical products, power transmission and distribution and general industrial markets

SoutheastCapital Goods
Sunrun Atlas Depositor 2019-2, LLC and Sunrun Atlas Holdings 2019-2, LLC

Residential solar energy provider

WestPower Generation
Sunrun Luna Holdco 2021, LLC

Residential solar energy provider

WestPower Generation
Sunrun Xanadu Issuer 2019-1, LLC and Sunrun Xanadu Holdings 2019-1, LLC

Residential solar energy provider

WestPower Generation
SV-Burton Holdings, LLC and LBC Breeze Holdings LLC

Provider of HVAC and plumbing services to residential and commercial customers

MidwestConsumer Services
SVP-Singer Holdings Inc. and SVP-Singer Holdings LP

Manufacturer of consumer sewing machines

SoutheastConsumer Durables & Apparel
Symplr Software Inc. and Symplr Software Intermediate Holdings, Inc.

SaaS based healthcare compliance platform provider

MidwestHealth Care Services
Synergy HomeCare Franchising, LLC and NP/Synergy Holdings, LLC

Franchisor of private-pay home care for the elderly

WestHealth Care Services
TA/WEG Holdings, LLC

Wealth management and financial planning firm

MidwestDiversified Financials
Tamarack Intermediate, L.L.C. and Tamarack Parent, L.L.C.

Provider of environment, health, safety, and sustainability software

WestSoftware & Services
Taymax Group, L.P., Taymax Group G.P., LLC, PF Salem Canada ULC and TCP Fit Parent, L.P.

Planet Fitness franchisee

NortheastConsumer Services
TCP Hawker Intermediate LLC

Workforce management solutions provider

MidwestSoftware & Services
Teasdale Foods, Inc. and Familia Group Holdings Inc.

Provider of beans, sauces and hominy to the retail, foodservice and wholesale channels

WestFood & Beverage
Tempus Labs, Inc.

Provider of technology enabled precision medicine solutions

MidwestHealth Care Services
TerSera Therapeutics LLC

Acquirer and developer of specialty therapeutic pharmaceutical products

MidwestPharmaceuticals, Biotechnology & Life Sciences
The Alaska Club Partners, LLC, Athletic Club Partners LLC and The Alaska Club, Inc.

Premier health club operator

WestConsumer Services
The Arcticom Group, LLC and AMCP Mechanical Holdings, LP

Refrigeration, heating, ventilation and air conditioning services provider

WestConsumer Services
The Edelman Financial Center, LLC

Provider of investment, financial and retirement planning services

Mid AtlanticDiversified Financials
The Mather Group, LLC, TVG-TMG Topco, Inc., and TVG-TMG Holdings, LLC

Provider of comprehensive wealth management services

MidwestDiversified Financials
The NPD Group, L.P., IRI Group Holdings, Inc., Information Resources, Inc. and IRI-NPD Co-Invest Aggregator, L.P.

Market research company focused on the consumer packaged goods industry

MidwestCommercial & Professional Services
The Teaching Company Holdings, Inc.

Education publications provider

Mid AtlanticMedia & Entertainment
The Ultimate Software Group, Inc. and H&F Unite Partners, L.P.

Provider of cloud based HCM solutions for businesses

SoutheastSoftware & Services
The Ultimus Group Midco, LLC, The Ultimus Group, LLC, and The Ultimus Group Aggregator, LP

Provider of asset-servicing capabilities for fund managers

Mid AtlanticDiversified Financials
Therapy Brands Holdings LLC

Provider of software solutions for the mental and behavioral health market segments

SoutheastHealth Care Services
Thermostat Purchaser III, Inc.

Provider of commercial HVAC equipment maintenance and repair services

MidwestCommercial & Professional Services
THG Acquisition, LLC

Multi-line insurance broker

Mid AtlanticInsurance Services
TibCo Software Inc., Picard Parent, Inc., Picard MidCo, Inc., Picard HoldCo, LLC and Elliott Alto Co-Investor Aggregator L.P.

Provider of server, application and desktop virtualization, networking, software as a service, and cloud computing technologies

SoutheastSoftware & Services
Totes Isotoner Corporation and Totes Ultimate Holdco, Inc.

Designer, marketer, and distributor of rain and cold weather products

MidwestConsumer Durables & Apparel
Touchstone Acquisition, Inc. and Touchstone Holding, L.P.

Manufacturer of consumable products in the dental, medical, cosmetic and consumer/industrial end-markets

SoutheastHealth Care 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.