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Barings LLC

SEC CIK
0000009015
Latest filing
Aug 7, 2026

Holdings in Q3 2025

Holdings as of Sep 30, 2025, filed Nov 10, 2025. Long positions only; changes compare share counts with Q2 2025.

Institution overview
Positions
171
0 vs. Q2 2025
Portfolio value
$5.25B
+$969.8M (+22.6%) vs. Q2 2025
Filed
Nov 10, 2025
SEC
Holdings of Barings LLC in Q3 2025
SecurityClassSharesValue% of portfolioShare changeActionHistory
iShares Core S&P 500 ETF464287200ETF1,603,253$1.07B20.4%+17,995+1.1%Added–
Invesco QQQ Trust Series I46090E103ETF894,407$535.5M10.2%+1,000+0.1%Added–
iShares Russell 2000 Growth ETF464287648ETF1,624,450$519.6M9.9%−46,500−2.8%Reduced–
Vanguard Scottsdale FDS92206C409SHRT TRM CORP BD5,108,527$408.3M7.8%00.0%Unchanged–
iShares Tr464288646ISHS 1-5YR INVS6,840,027$362.7M6.9%00.0%Unchanged–
iShares Iboxx $ Investment Grade Corporate Bond ETF464287242ETF2,771,727$309.0M5.9%+2,700,000+3,764.3%Added–
Janus Detroit STR Tr47103U845HENDRSON AAA CL6,000,000$304.7M5.8%+6,000,000New–
BBDCBarings BDC, Inc.COM13,639,681$119.5M2.3%00.0%UnchangedHistory
Vanguard Total World Stock ETF922042742ETF811,512$111.8M2.1%+21,665+2.7%Added–
SPYSPDR S&P 500 ETF TrustETF114,785$76.5M1.5%+25,418+28.4%AddedHistory
PDDPDD Holdings Inc.SPONSORED ADS539,000$71.2M1.4%+55,513+11.5%AddedHistory
iShares Tr4642874407-10 YR TRSY BD631,843$60.9M1.2%−11,101−1.7%Reduced–
Herbalife Ltd.42703MAF0NOTE 4.250% 6/1–$57.2M1.1%–––
iShares Inc464286392MSCI WORLD ETF311,111$56.5M1.1%−46,990−13.1%Reduced–
WPMWheaton Precious Metals Corp.COM446,693$50.0M1.0%+7,917+1.8%AddedHistory
AUAngloGold Ashanti PLCCOM SHS668,860$47.0M0.9%−6,942−1.0%ReducedHistory
ARXAccelerant HoldingsCL A3,128,867$46.4M0.9%+3,128,867NewHistory
iShares S&P 500 Growth ETF464287309ETF371,209$44.8M0.9%+126,777+51.9%Added–
iShares Tr46435U853BROAD USD HIGH1,183,000$44.7M0.9%+737,500+165.5%Added–
iShares Tr46429B655FLTG RATE NT ETF780,000$39.9M0.8%00.0%Unchanged–
SESea LtdSPONSORD ADS209,385$37.4M0.7%−20,185−8.8%ReducedHistory
iShares Tr464287861EUROPE ETF566,323$37.1M0.7%−157,114−21.7%Reduced–
Parsons Corp70202LAD4NOTE 2.625% 3/0–$34.3M0.7%–––
CRHCRH Public Ltd CoORD278,498$33.4M0.6%−10,931−3.8%ReducedHistory
iShares Tr464287515EXPANDED TECH271,138$31.2M0.6%00.0%Unchanged–
iShares Tr464287234MSCI EMG MKT ETF530,684$28.3M0.5%−36,963−6.5%Reduced–
NUNu Holdings Ltd.ORD SHS CL A1,586,267$25.4M0.5%+146,798+10.2%AddedHistory
BlackRock ETF Trust09290C103ISHARES US EQUIT424,811$25.1M0.5%+424,811New–
Sabre GLBL Inc78573NAK8NOTE 4.000% 8/0–$22.9M0.4%–––
Vanguard S&P 500 ETF922908363ETF35,299$21.6M0.4%00.0%Unchanged–
AONAon plcCL A59,633$21.3M0.4%+55,186+1,241.0%AddedHistory
HDBHDFC Bank LtdSPONSORED ADS595,858$20.4M0.4%00.0%UnchangedConverted for a 2-for-1 splitHistory
ONCBeOne Medicines Ltd.ADR55,604$18.9M0.4%00.0%UnchangedHistory
Uniti Group Inc.91325VAB4NOTE 7.500%12/0–$18.0M0.3%–New–
QGENQiagen N.V.COMMON STOCK407,259$18.0M0.3%00.0%UnchangedHistory
Global X FDS37954Y350X EMERGING MKT684,400$16.3M0.3%−3,500−0.5%Reduced–
iShares Inc46434G822MSCI JAPAN ETF198,666$15.9M0.3%00.0%Unchanged–
SUSuncor Energy IncStock353,855$14.8M0.3%00.0%UnchangedHistory
CVXChevron CorpStock92,405$14.3M0.3%+47,830+107.3%AddedHistory
LINLinde PLCStock29,001$13.8M0.3%−2,511−8.0%ReducedHistory
EOSEEos Energy Enterprises, Inc.COM CL A1,204,430$13.7M0.3%00.0%UnchangedHistory
CTGOContango Silver & Gold Inc.COM476,190$11.9M0.2%00.0%UnchangedHistory
XOMExxonMobil Holdings CorpCOM102,087$11.5M0.2%−21,895−17.7%ReducedHistory
Vanguard Information Technology ETF92204A702ETF15,411$11.5M0.2%00.0%Unchanged–
YUMCYum China Holdings, Inc.COM259,487$11.1M0.2%−1,359−0.5%ReducedHistory
COPConocoPhillipsStock112,811$10.7M0.2%+229+0.2%AddedHistory
Ziff Davis, Inc.48123VAH5DEBT 3.625% 3/0–$9.64M0.2%–––
NEMNEWMONT CorpStock113,776$9.59M0.2%+28,215+33.0%AddedHistory
ENBEnbridge IncStock185,942$9.38M0.2%00.0%UnchangedHistory
Invesco Nasdaq 100 ETF46138G649ETF37,056$9.16M0.2%−1,220−3.2%Reduced–
NBRNabors Industries LtdSHS212,527$8.69M0.2%00.0%UnchangedHistory
VALEVale S.A.SPONSORED ADS792,650$8.61M0.2%00.0%UnchangedHistory
VNETVNET Group, Inc.SPONSORED ADS A832,077$8.60M0.2%00.0%UnchangedHistory
ITUBItau Unibanco Holding S.A.SPON ADR REP PFD1,134,326$8.33M0.2%−73,823−6.1%ReducedHistory
BAPCredicorp LtdCOM30,712$8.18M0.2%−4,025−11.6%ReducedHistory
iShares Tr464288711GLOB UTILITS ETF102,707$7.98M0.2%+102,707New–
CTVACorteva, Inc.Stock117,723$7.96M0.2%−60,550−34.0%ReducedHistory
ADMArcher-Daniels-Midland CoStock132,105$7.89M0.2%+106,969+425.6%AddedHistory
EOGEOG Resources IncStock69,643$7.81M0.1%00.0%UnchangedHistory
AEMAgnico Eagle Mines LtdStock45,029$7.58M0.1%00.0%UnchangedHistory
DARDarling Ingredients Inc.COM243,613$7.52M0.1%+84,156+52.8%AddedHistory
FMXMexican Economic Development IncSPON ADR UNITS72,617$7.16M0.1%00.0%UnchangedHistory
Vanguard Scottsdale FDS92206C813LG-TERM COR BD89,940$6.98M0.1%+54,084+150.8%Added–
MSFTMicrosoft CorpStock13,482$6.98M0.1%00.0%UnchangedHistory
EQTEQT CorpStock126,786$6.90M0.1%+62,316+96.7%AddedHistory
NVDANVIDIA CorpStock35,858$6.69M0.1%−2,064−5.4%ReducedHistory
AXIAYAXIA Energia S.A.SPONSORED ADR674,385$6.69M0.1%00.0%UnchangedHistory
PAASPan American Silver CorpStock168,158$6.51M0.1%−84,016−33.3%ReducedHistory
FNFabrinetSHS17,033$6.21M0.1%−4,455−20.7%ReducedHistory
GLDSPDR Gold TrustETF17,393$6.17M0.1%00.0%UnchangedHistory
iShares Inc464286608MSCI EURZONE ETF99,439$6.16M0.1%−77,731−43.9%Reduced–
NUENucor CorpCOM44,646$6.05M0.1%00.0%UnchangedHistory
CPTCamden Property TrustREIT57,104$5.69M0.1%00.0%UnchangedHistory
MPVBarings Participation InvestorsSH BEN INT280,341$5.65M0.1%+2,638+0.9%AddedHistory
AMZNAmazon Com IncStock23,804$5.23M0.1%00.0%UnchangedHistory
CIBGrupo Cibest S.A.SPON ADS97,893$5.08M0.1%+50,056+104.6%AddedHistory
PBR.APetrobras - Petroleo Brasileiro SASP ADR NON VTG428,646$5.07M0.1%−251,534−37.0%ReducedHistory
First Tr Exch Traded FD III33739E108PFD SECS INC ETF275,381$5.02M0.1%−320,766−53.8%Reduced–
NTRNutrien Ltd.COM81,694$4.80M0.1%−12,059−12.9%ReducedHistory
FCXFreeport-McMoran IncStock120,080$4.71M0.1%+120,080NewHistory
MCIBarings Corporate InvestorsCOM219,664$4.56M0.1%00.0%UnchangedHistory
TECKTeck Resources LtdCL B95,582$4.20M0.1%−47,797−33.3%ReducedHistory
iShares Tr464288257MSCI ACWI ETF28,922$4.00M0.1%−8,487−22.7%Reduced–
PCHPotlatchdeltic CorpCOM96,231$3.92M0.1%00.0%UnchangedHistory
GOOGLAlphabet Inc.Stock15,035$3.66M0.1%−406−2.6%ReducedHistory
iShares Inc464286871MSCI HONG KG ETF163,993$3.53M0.1%−44,546−21.4%Reduced–
AAPLApple Inc.Stock13,663$3.48M0.1%−626−4.4%ReducedHistory
VLOValero Energy CorpStock19,903$3.39M0.1%00.0%UnchangedHistory
DEDeere & CoStock7,387$3.38M0.1%00.0%UnchangedHistory
BGBunge Global SACOM SHS38,342$3.12M0.1%−8,067−17.4%ReducedHistory
TSCOTractor Supply CoCOM54,380$3.09M0.1%−6,262−10.3%ReducedHistory
RACEFerrari N.V.COM6,382$3.08M0.1%+3,091+93.9%AddedHistory
VMRKVivmark ResidentialSH BEN INT52,076$3.07M0.1%00.0%UnchangedHistory
SPDR Series Trust78464A151SST SPDR BLOOMBE94,656$3.06M0.1%+94,656New–
iShares Tr464288372GLB INFRASTR ETF49,750$3.04M0.1%+17,423+53.9%Added–
TCPCBlackRock TCP Capital Corp.COM480,322$2.98M0.1%−17,258−3.5%ReducedHistory
iShares Tr46435G193ESG AWRE USD ETF121,432$2.86M0.1%−25,741−17.5%Reduced–
WYWeyerhaeuser CoCOM NEW107,546$2.67M0.1%00.0%UnchangedHistory
VVisa Inc.Stock7,552$2.58M<0.1%+2,361+45.5%AddedHistory
MOSMosaic CoCOM73,895$2.56M<0.1%−120,346−62.0%ReducedHistory

Sold out since Q2 2025 (18)

Positions held at the end of Q2 2025 that are gone from this filing.

Positions of Barings LLC sold out since Q2 2025
SecurityClassShares in Q2 2025Value in Q2 2025% of portfolio in Q2 2025History
iShares MSCI USA Quality Factor ETF46432F339ETF275,752$50.4M1.2%–
Vanguard Financials ETF92204A405ETF88,974$11.3M0.3%–
CHAChagee Holdings Ltd.SPONSORED ADS432,851$11.3M0.3%History
BEKEKE Holdings Inc.SPONSORED ADS529,988$9.40M0.2%History
ECLEcolab Inc.Stock19,742$5.32M0.1%History
Upstart Hldgs Inc91680MAB3NOTE 0.250% 8/1–$4.72M0.1%–
HESHess CorpStock31,295$4.34M0.1%History
SLBSLB LimitedStock126,156$4.26M0.1%History
First Tr Exchange-Traded FD336917109SHS88,348$3.70M0.1%–
XPXP Inc.CL A124,535$2.52M0.1%History
UNHUnitedHealth Group IncStock3,448$1.08M<0.1%History
iShares Tr464288448INTL SEL DIV ETF25,989$896.9K<0.1%–
State Street Financial Select Sector SPDR ETF81369Y605ETF15,150$793.4K<0.1%–
iShares Core U.S. Aggregate Bond ETF464287226ETF7,164$710.7K<0.1%–
SQMChemical & Mining Co of Chile IncSPON ADR SER B18,861$665.2K<0.1%History
XYZBlock, Inc.CL A8,752$594.5K<0.1%History
iShares Trust iShares 0-1 Year Treasury Bond ETF464288679ETF1,966$217.1K<0.1%–
INFYInfosys LtdSPONSORED ADR10,008$185.4K<0.1%History