Ares Capital Corp

ARCCCIK 0001287750Ares

ARES CAPITAL CORP is a publicly traded business development company advised by Ares. With $31.2 billion in total assets, it is among the largest BDCs in the 69-fund coverage universe. The portfolio is concentrated in direct lending, with 77% in first-lien senior secured loans and 92% floating-rate, at a weighted-average spread of 568 bps over the base rate. Its largest sector exposure is Industrials (17% of holdings).

NAV/Share

$19.94

AUM

$31.2B

Positions

1,421

Strategy

Private Credit

Wtd. Avg. Coupon

9.4%

Wtd. Avg. Spread

6 bps

Wtd. Avg. Maturity

4.9 yrs

77% coverage

Top 10 Concentration

19.4%

Instrument type

Share of portfolio fair value

First Lien

59%

of fair value

First Lien Senior Loans59.5%

Second Lien Loans5.0%

Unsecured Loans12.3%

Equity16.2%

Fund Vehicles6.9%

Other0.1%

Industry exposure

Share of holdings fair value

Top 5

84%

of holdings

Industrials17.1%

Information Technology14.8%

Financials10.9%

Health Care10.2%

Other4.2%

Consumer Staples3.4%

Consumer Discretionary3.1%

Materials1.9%

Utilities1.9%

Energy1.2%

Communication Services0.6%

Real Estate0.1%

Unknown30.6%

Unknown sector positions lack GICS classification in the source filing or could not be reconciled.

Maturity profile

Share of debt fair value by years to maturity.

Risk & Credit Indicators

PIK in Terms

17.5%