Preferred Equity Total Return Index
Preferred equity positions in private companies with stated dividend rates, held by registered closed-end vehicles.
Index Level
103.69
QoQ Return
+4.0%
Trailing 12M
+21.1%
Since Inception
+0.6%
Index Holdings
1,267
Unique Companies
1,147
Quarterly Returns
Concentration
By Manager
Ares18.1%Partners Group10.2%FS KKR9.3%Stone Ridge Trust II7.4%Blue Owl7.0%Main Street Capital6.0%Gladstone3.6%Barings3.3%CION Ares Diversified Credit Fund3.1%The Private Shares Fund3.0%Other28.9%
By Company
Top 1%20.6%Top 1-5%28.5%Top 5-10%15.9%Top 10-20%17.2%Top 20-50%15.0%Top 50-100%2.8%
By Holding
Top 1%21.0%Top 1-5%28.0%Top 5-10%15.9%Top 10-20%16.4%Top 20-50%15.5%Top 50-100%3.2%
Asset Category Breakdown
Preferred Equity100.0% (1,267 constituent holdings)
Largest 20 Holdings
| Issuer | Category | Fair Value | Vehicle | Return |
|---|---|---|---|---|
| athenahealth Inc, Preferred Stock | Preferred | $383,700,000 | FS KKR Capital Corp | +3.5% |
| AthenaHealth Group Inc, Minerva Holdco, Inc and BCPE Co-Invest (A), LP, Series A preferred stock | Preferred | $301,200,000 | Ares Capital Corp | +7.5% |
| Metis HoldCo, Inc (dba Mavis Tire Express Services) | Preferred | $251,546,000 | Blue Owl Capital Corp | +9.1% |
| Starfish Intermediate, Inc | Preferred | $240,508,894 | Partners Group Private Equity Fund, LLC | +0.4% |
| Yorkville (Artex Segregated Account Company) | Preferred | $229,153,865 | Stone Ridge Trust II | +6.8% |
| Global Jet Capital LLC, Preferred Stock | Preferred | $206,900,000 | FS KKR Capital Corp | +6.6% |
| PG Investment Company 18 S.a r.l. | Preferred | $198,765,697 | Partners Group Private Equity Fund, LLC | +4.4% |
| Digicert, Inc, Dcert Buyer, Inc, DCert Preferred Holdings, Inc and Destiny Digital Holdings, LP Series A preferred shares | Preferred | $178,900,000 | Ares Capital Corp | +10.6% |
| JW Aluminum Co, Preferred Stock 2 | Preferred | $170,400,000 | FS KKR Capital Corp | +5.7% |
| JW Aluminum Co, Preferred Stock | Preferred | $170,400,000 | FS KKR Capital Corp | +5.3% |
| PG Investment Company 24 S.a r.l. | Preferred | $165,859,899 | Partners Group Private Equity Fund, LLC | +3.9% |
| Cornerstone OnDemand, Inc and Sunshine Software Holdings, Inc, Series A preferred shares | Preferred | $152,300,000 | Ares Capital Corp | +8.1% |
| Minerva Holdco, Inc | Preferred | $150,641,000 | Blue Owl Credit Income Corp | +5.8% |
| Rocade Holdings LLC | Preferred | $141,247,000 | Barings Private Credit Corp | +4.5% |
| Miami Beckham United LLC, Class A preferred units | Preferred | $124,900,000 | Ares Capital Corp | +6.9% |
| Centralsquare Technologies, LLC and Supermoose Newco, Inc, Series A preferred stock | Preferred | $107,200,000 | Ares Capital Corp | +8.9% |
| Symplr Software Inc and Symplr Software Intermediate Holdings, Inc, Series C-1 preferred shares | Preferred | $106,100,000 | Ares Capital Corp | +6.3% |
| Cobalt Buyer Sub, Inc, Cobalt Holdings I, LP, and Cobalt Intermediate I, Inc, Series A preferred shares | Preferred | $104,600,000 | Ares Capital Corp | +8.6% |
| Mavis Tire Express Services Topco Corp, Metis Holdco, Inc and Metis Topco, LP, Series A preferred stock | Preferred | $94,800,000 | Ares Capital Corp | +6.2% |
| Rocade Holdings LLC | Preferred | $89,450,000 | Barings BDC, Inc | +4.6% |