Barings Portfolio holdings
Barings is a subsidiary of the insurer MassMutual that invests in fixed income, stocks, real estate and alternative assets. Its core began as David L. Babson & Company, founded in 1940 and bought by MassMutual in 1995. Baring Asset Management, which traces back to a merchant bank the Baring brothers founded in London in 1762, was bought by MassMutual in 2004 and became a Babson subsidiary in 2016. Babson, by then Babson Capital Management, took the Barings name in September 2016, and MassMutual's real estate adviser merged into the firm that December. Its clients include pension plans, endowments, foundations, banks and insurance companies, as well as MassMutual itself.
Top Buys
| Rank | Stock | Value |
|---|---|---|
| 1 |
Essex Property Trust
ESS
|
+$65.3M |
| 2 |
Camden Property Trust
CPT
|
+$50.4M |
| 3 |
Equinix
EQIX
|
+$26.3M |
| 4 |
Crown Castle
CCI
|
+$23.5M |
| 5 |
American Tower
AMT
|
+$23M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Vivmark Residential
VMRK
|
+$70.5M |
| 2 |
AvalonBay Communities
AVB
|
+$63.5M |
| 3 |
Extra Space Storage
EXR
|
+$55.9M |
| 4 |
iShares Russell 3000 ETF
IWV
|
+$53.9M |
| 5 |
American Homes 4 Rent
AMH
|
+$36.2M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Miscellaneous | 42.07% |
| 2 | Real Estate | 25.44% |
| 3 | Financials | 6.04% |
| 4 | Technology | 5.65% |
| 5 | Industrials | 4.44% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | Held Since | |
|---|---|---|---|---|---|---|---|
1
PUT
State Street SPDR S&P 500 ETF Trust
SPY
$798B
| $1.33B | 23.8% |
+5,286,000
| New | +$1.3B |
2017 Q3
0 quarters
|
|
2
PUT
iShares MSCI EAFE ETF
EFA
$77.2B
| $358M | 6.42% |
+5,234,000
| New | +$350M |
2017 Q3
0 quarters
|
|
3
PUT
iShares MSCI Emerging Markets ETF
EEM
$28.1B
| $324M | 5.8% |
+7,225,100
| New | +$318M |
2017 Q3
0 quarters
|
|
4
PUT
iShares Russell 2000 ETF
IWM
$76.9B
| $119M | 2.12% |
+800,000
| New | +$113M |
2017 Q3
0 quarters
|
|
5
Prologis
PLD
$122B
| $114M | 2.04% |
1,795,949
-277,894
| -13% | -$17.1M |
2017 Q1
2 quarters
|
|
6
Simon Property Group
SPG
$75.4B
| $85.6M | 1.53% |
531,745
-9,852
| -2% | -$1.57M |
2017 Q1
2 quarters
|
|
|
7
Equinix
EQIX
$104B
| $68.4M | 1.23% |
153,342
+58,798
| +62% | +$26.3M |
2017 Q2
1 quarter
|
|
8
Welltower
WELL
$179B
| $67.9M | 1.22% |
965,593
-24,896
| -3% | -$1.81M |
2017 Q1
2 quarters
|
|
|
9
Essex Property Trust
ESS
$17.6B
| $63.5M | 1.14% |
+250,165
| New | +$65.3M |
2017 Q3
0 quarters
|
|
10
Boston Properties
BXP
$10.1B
| $61.1M | 1.1% |
497,506
+15,149
| +3% | +$1.83M |
2017 Q1
2 quarters
|
|
11
Digital Realty Trust
DLR
$67.9B
| $61M | 1.09% |
515,261
+72,014
| +16% | +$8.32M |
2017 Q1
2 quarters
|
|
|
DRE
12
DELISTED
Duke Realty Corp.
DRE
| $60.9M | 1.09% |
2,114,405
+634,298
| +43% | +$18.3M |
2017 Q1
2 quarters
|
|
13
Regency Centers
REG
$13.9B
| $53.9M | 0.97% |
869,407
+21,852
| +3% | +$1.41M |
2017 Q1
2 quarters
|
|
|
14
Camden Property Trust
CPT
$9.9B
| $51.3M | 0.92% |
+561,053
| New | +$50.4M |
2017 Q3
0 quarters
|
|
15
Kilroy Realty
KRC
$4.14B
| $48.9M | 0.88% |
686,937
-76,198
| -10% | -$5.35M |
2017 Q1
2 quarters
|
|
16
Apple
AAPL
$5.2T
| $47.1M | 0.84% |
1,222,384
+107,400
| +10% | +$4.17M |
2013 Q2
17 quarters
|
|
|
SFR
17
DELISTED
Starwood Waypoint Homes
SFR
| $42M | 0.75% |
1,154,646
-330,984
| -22% | -$11.8M |
2017 Q1
2 quarters
|
|
18
Microsoft
MSFT
$3.9T
| $40M | 0.72% |
537,496
+16,600
| +3% | +$1.21M |
2013 Q2
17 quarters
|
|
19
DELISTED
PHYSICIANS REALTY TRUST
DOC
| $38.9M | 0.7% |
2,194,874
-86,042
| -4% | -$1.59M |
2017 Q1
2 quarters
|
|
20
Hilton Worldwide Holdings Inc. Common Stock
HLT
$83.4B
| $36.1M | 0.65% |
520,090
-13,910
| -3% | -$887K |
2017 Q1
2 quarters
|
|
21
Acadia Realty Trust
AKR
$2.82B
| $33.7M | 0.6% |
1,177,626
-105,450
| -8% | -$3.05M |
2017 Q1
2 quarters
|
|
22
Realty Income
O
$56.1B
| $30M | 0.54% |
541,266
-20,713
| -4% | -$1.15M |
2017 Q1
2 quarters
|
|
23
CubeSmart
CUBE
$10.1B
| $29.9M | 0.54% |
1,153,635
+155,229
| +16% | +$3.84M |
2017 Q1
2 quarters
|
|
24
Gaming and Leisure Properties
GLPI
$11.5B
| $29.6M | 0.53% |
802,420
+76,840
| +11% | +$2.9M |
2017 Q1
2 quarters
|
|
25
Citigroup
C
$205B
| $29.3M | 0.52% |
402,321
-27,600
| -6% | -$1.88M |
2013 Q2
17 quarters
|
|
Similar funds
Barings's Q3 2017 Portfolio in Review
As of Q3 2017, Barings held 936 positions worth $5.58B, up 62% from $3.45B the previous quarter. Its ten largest holdings account for 46% of the portfolio.
Barings withdrew a net $267M in Q3 2017, closing 95 positions and reducing 190 holdings. Its most notable exit was American Homes 4 Rent, an estimated $36.2M position sold in full.
By sector, the portfolio is most concentrated in Miscellaneous at 42% of assets, up from 8.2% a quarter earlier, followed by Real Estate and Financials.
Against the trend, Barings opened a new position in Essex Property Trust worth $63.5M.
- Barings's largest Q3 2017 buy was Essex Property Trust: 250,165 shares worth $63.5M.
- Barings added most to Equinix in Q3 2017, an estimated $26.3M increase.
- Barings's biggest Q3 2017 reduction was Vivmark Residential, cutting an estimated $70.5M.
- Barings fully exited American Homes 4 Rent in Q3 2017, selling an estimated $36.2M.
- Barings's ten largest holdings make up 46% of its $5.58B portfolio in Q3 2017.
- Barings opened 93 new positions and closed 95 in Q3 2017.
- Barings's portfolio value rose 62% quarter-over-quarter to $5.58B.
Based on Barings's 13F filing for Q3 2017, filed 13 Nov 2017.