(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 |
|---|---|---|---|---|---|
| SFE Intermediate Holdco LLC Provider of outsourced foodservice to K-12 school districts | West | Food & Staples Retailing | |||
| SG Acquisition, Inc. Provider of insurance solutions for car sales | Southeast | Insurance Services | |||
| Shermco Intermediate Holdings, Inc. Provider of electrician services | Southeast | Commercial & Professional Services | |||
| SHO Holding I Corporation Manufacturer and distributor of slip resistant footwear | Southeast | Consumer Durables & Apparel | |||
| Shock Doctor, Inc. and Shock Doctor Holdings, LLC Developer, marketer and distributor of sports protection equipment and accessories | Midwest | Consumer 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 | Midwest | Transportation | |||
| SilverBow Resources, Inc. Oil and gas producer | West | Energy | |||
| SiroMed Physician Services, Inc. and SiroMed Equity Holdings, LLC Outsourced anesthesia provider | Southeast | Health Care Services | |||
| SK SPV IV, LLC Collision repair site operator | Midwest | Automobiles & Components | |||
| SM Wellness Holdings, Inc. and SM Holdco, Inc. Breast cancer screening provider | Midwest | Health Care Services | |||
| Smarsh Inc. and Skywalker TopCo, LLC SaaS based communication archival service provider | West | Software & Services | |||
| SOC Telemed, Inc. and PSC Spark Holdings, LP Provider of acute care telemedicine | Mid Atlantic | Health Care Services | |||
| SocialFlow, Inc. Social media optimization platform provider | Mid Atlantic | Software & Services | |||
| Sophia, L.P. Provider of ERP software and services for higher education institutions | Mid Atlantic | Software & Services | |||
| SoundCloud Limited Platform for receiving, sending, and distributing music | International | Software & 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 Atlantic | Software & Services | |||
| Spring Insurance Solutions, LLC Technology-based direct to consumer sales and marketing platform for insurance products | Midwest | Insurance 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 | Southeast | Commercial & Professional Services | |||
| Stamps.com Inc. Provider of mailing and shipping solutions | West | Software & Services | |||
| Star US Bidco LLC Manufacturer of pumps, compressors and other highly-engineered equipment for mission-critical applications | West | Capital Goods | |||
| Startec Equity, LLC Communication services | West | Commercial & Professional Services | |||
| Stealth Holding LLC and UCIT Online Security Inc. Live video monitoring solutions provider | Midwest | Commercial & 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 | West | Technology Hardware & Equipment | |||
| Storable, Inc. and EQT IX Co-Investment (E) SCSP PMS solutions and web services for the self-storage industry | International | Software & Services | |||
| Storm Investment S.a.r.l. Spanish futbol club | International | Media & Entertainment | |||
| Sun Acquirer Corp. and Sun TopCo, LP Automotive parts and repair services retailer | West | Automobiles & Components | |||
| Sundance Group Holdings, Inc. Provider of cloud-based document management and collaboration solutions | West | Software & 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 | Southeast | Capital Goods | |||
| Sunrun Atlas Depositor 2019-2, LLC and Sunrun Atlas Holdings 2019-2, LLC Residential solar energy provider | West | Power Generation | |||
| Sunrun Luna Holdco 2021, LLC Residential solar energy provider | West | Power Generation | |||
| Sunrun Xanadu Issuer 2019-1, LLC and Sunrun Xanadu Holdings 2019-1, LLC Residential solar energy provider | West | Power Generation | |||
| SV-Burton Holdings, LLC and LBC Breeze Holdings LLC Provider of HVAC and plumbing services to residential and commercial customers | Midwest | Consumer Services | |||
| SVP-Singer Holdings Inc. and SVP-Singer Holdings LP Manufacturer of consumer sewing machines | Southeast | Consumer Durables & Apparel | |||
| Symplr Software Inc. and Symplr Software Intermediate Holdings, Inc. SaaS based healthcare compliance platform provider | Midwest | Health Care Services | |||
| Synergy HomeCare Franchising, LLC and NP/Synergy Holdings, LLC Franchisor of private-pay home care for the elderly | West | Health Care Services | |||
| TA/WEG Holdings, LLC Wealth management and financial planning firm | Midwest | Diversified Financials | |||
| Tamarack Intermediate, L.L.C. and Tamarack Parent, L.L.C. Provider of environment, health, safety, and sustainability software | West | Software & Services | |||
| Taymax Group, L.P., Taymax Group G.P., LLC, PF Salem Canada ULC and TCP Fit Parent, L.P. Planet Fitness franchisee | Northeast | Consumer Services | |||
| TCP Hawker Intermediate LLC Workforce management solutions provider | Midwest | Software & Services | |||
| Teasdale Foods, Inc. and Familia Group Holdings Inc. Provider of beans, sauces and hominy to the retail, foodservice and wholesale channels | West | Food & Beverage | |||
| Tempus Labs, Inc. Provider of technology enabled precision medicine solutions | Midwest | Health Care Services | |||
| TerSera Therapeutics LLC Acquirer and developer of specialty therapeutic pharmaceutical products | Midwest | Pharmaceuticals, Biotechnology & Life Sciences | |||
| The Alaska Club Partners, LLC, Athletic Club Partners LLC and The Alaska Club, Inc. Premier health club operator | West | Consumer Services | |||
| The Arcticom Group, LLC and AMCP Mechanical Holdings, LP Refrigeration, heating, ventilation and air conditioning services provider | West | Consumer Services | |||
| The Edelman Financial Center, LLC Provider of investment, financial and retirement planning services | Mid Atlantic | Diversified Financials | |||
| The Mather Group, LLC, TVG-TMG Topco, Inc., and TVG-TMG Holdings, LLC Provider of comprehensive wealth management services | Midwest | Diversified 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 | Midwest | Commercial & Professional Services | |||
| The Teaching Company Holdings, Inc. Education publications provider | Mid Atlantic | Media & Entertainment | |||
| The Ultimate Software Group, Inc. and H&F Unite Partners, L.P. Provider of cloud based HCM solutions for businesses | Southeast | Software & 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 Atlantic | Diversified Financials | |||
| Therapy Brands Holdings LLC Provider of software solutions for the mental and behavioral health market segments | Southeast | Health Care Services | |||
| Thermostat Purchaser III, Inc. Provider of commercial HVAC equipment maintenance and repair services | Midwest | Commercial & Professional Services | |||
| THG Acquisition, LLC Multi-line insurance broker | Mid Atlantic | Insurance 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 | Southeast | Software & Services | |||
| Totes Isotoner Corporation and Totes Ultimate Holdco, Inc. Designer, marketer, and distributor of rain and cold weather products | Midwest | Consumer Durables & Apparel | |||
| Touchstone Acquisition, Inc. and Touchstone Holding, L.P. Manufacturer of consumable products in the dental, medical, cosmetic and consumer/industrial end-markets | Southeast | Health 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.