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Barings Portfolio holdings

AUM $5.64B
1-Year Est. Return 18.33%
This Fund
S&P 500
This Quarter Est. Return
+6.68%
1 Year Est. Return
+18.33%
3 Year Est. Return
+58.28%
5 Year Est. Return
+58.55%
10 Year Est. Return
+305.55%
AUM
$5.25B
AUM Growth
+$970M
Cap. Flow
+$547M
Cap. Flow %
10.42%
Top 10 Hldgs %
72.67%
Holding
188
New
17
Increased
35
Reduced
52
Closed
17

Top Buys

Rank Stock Value
1
JAAA icon
Janus Henderson AAA CLO ETF
JAAA
+$304M
2
LQD icon
iShares iBoxx $ Investment Grade Corporate Bond ETF
LQD
+$297M
3
ARX
Accelerant Holdings
ARX
+$73.3M
4
USHY icon
iShares Broad USD High Yield Corporate Bond ETF
USHY
+$27.6M
5
DYNF icon
BlackRock US Equity Factor Rotation ETF
DYNF
+$24.1M

Top Sells

Rank Stock Value
1
QUAL icon
iShares MSCI USA Quality Factor ETF
QUAL
+$50.4M
2
IWO icon
iShares Russell 2000 Growth ETF
IWO
+$14M
3
VFH icon
Vanguard Financials ETF
VFH
+$11.3M
4
CHA
Chagee Holdings Ltd
CHA
+$11.3M
5
IEV icon
iShares Europe ETF
IEV
+$10M

Sector Composition

Rank Sector Weight
1 Miscellaneous 82.94%
2 Financials 5.02%
3 Materials 4.25%
4 Consumer Discretionary 2.57%
5 Energy 1.87%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
IVV icon
1
iShares Core S&P 500 ETF
IVV
$892B
$1.07B 20.35%
1,603,253
+17,995
+1% +$11.6M
QQQ icon
2
Invesco QQQ Trust
QQQ
$488B
$536M 10.2%
894,407
+1,000
+0.1% +$573K
IWO icon
3
iShares Russell 2000 Growth ETF
IWO
$14.9B
$520M 9.89%
1,624,450
-46,500
-3% -$14M
VCSH icon
4
Vanguard Short-Term Corporate Bond ETF
VCSH
$44.8B
$408M 7.77%
5,108,527
– –
IGSB icon
5
iShares 1-5 Year Investment Grade Corporate Bond ETF
IGSB
$23.3B
$363M 6.91%
6,840,027
– –
LQD icon
6
iShares iBoxx $ Investment Grade Corporate Bond ETF
LQD
$32.5B
$309M 5.88%
2,771,727
+2,700,000
+3,764% +$297M
JAAA icon
7
Janus Henderson AAA CLO ETF
JAAA
$30.1B
$305M 5.8%
+6,000,000
New +$304M
BBDC icon
8
Barings BDC
BBDC
$941M
$119M 2.28%
13,639,681
– –
VT icon
9
Vanguard Total World Stock ETF
VT
$81.6B
$112M 2.13%
811,512
+21,665
+3% +$2.88M
SPY icon
10
State Street SPDR S&P 500 ETF Trust
SPY
$818B
$76.5M 1.46%
114,785
+25,418
+28% +$16.3M
PDD icon
11
Pinduoduo
PDD
$116B
$71.2M 1.36%
539,000
+55,513
+11% +$6.57M
IEF icon
12
iShares 7-10 Year Treasury Bond ETF
IEF
$42.2B
$60.9M 1.16%
631,843
-11,101
-2% -$1.06M
URTH icon
13
iShares MSCI World ETF
URTH
$8.29B
$56.5M 1.08%
311,111
-46,990
-13% -$8.21M
WPM icon
14
Wheaton Precious Metals
WPM
$71.1B
$50M 0.95%
446,693
+7,917
+2% +$774K
AU icon
15
AngloGold Ashanti
AU
$56.5B
$47M 0.9%
668,860
-6,942
-1% -$388K
ARX
16
Accelerant Holdings
ARX
$4.28B
$46.4M 0.88%
+3,128,867
New +$73.3M
IVW icon
17
iShares S&P 500 Growth ETF
IVW
$77.2B
$44.8M 0.85%
371,209
+126,777
+52% +$14.6M
USHY icon
18
iShares Broad USD High Yield Corporate Bond ETF
USHY
$28.4B
$44.7M 0.85%
1,183,000
+737,500
+166% +$27.6M
FLOT icon
19
iShares Floating Rate Bond ETF
FLOT
$10.6B
$39.9M 0.76%
780,000
– –
SE icon
20
Sea Limited
SE
$69.3B
$37.4M 0.71%
209,385
-20,185
-9% -$3.46M
IEV icon
21
iShares Europe ETF
IEV
$1.68B
$37.1M 0.71%
566,323
-157,114
-22% -$10M
CRH icon
22
CRH
CRH
$61.2B
$33.4M 0.64%
278,498
-10,931
-4% -$1.15M
IGV icon
23
iShares Expanded Tech-Software Sector ETF
IGV
$14.4B
$31.2M 0.59%
271,138
– –
EEM icon
24
iShares MSCI Emerging Markets ETF
EEM
$31.4B
$28.3M 0.54%
530,684
-36,963
-7% -$1.86M
NU icon
25
Nu Holdings
NU
$75.7B
$25.4M 0.48%
1,586,267
+146,798
+10% +$2.05M
1
2 3 4 5

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Barings's Q3 2025 Portfolio in Review

As of Q3 2025, Barings held 188 positions worth $5.25B, up 23% from $4.28B the previous quarter. Its ten largest holdings account for 73% of the portfolio.

Barings deployed $547M of net new capital in Q3 2025, opening 17 new positions and adding to 35 existing holdings. Its largest new stake was Janus Henderson AAA CLO ETF: 6,000,000 shares worth $305M.

By sector, the portfolio is most concentrated in Miscellaneous at 83% of assets, up from 82% a quarter earlier, followed by Financials and Materials.

On the sell side, the largest reduction was iShares Russell 2000 Growth ETF, an estimated $14M trimmed.

  • Barings's largest Q3 2025 buy was Janus Henderson AAA CLO ETF: 6,000,000 shares worth $305M.
  • Barings added most to iShares iBoxx $ Investment Grade Corporate Bond ETF in Q3 2025, an estimated $297M increase.
  • Barings's biggest Q3 2025 reduction was iShares Russell 2000 Growth ETF, cutting an estimated $14M.
  • Barings fully exited iShares MSCI USA Quality Factor ETF in Q3 2025, selling an estimated $50.4M.
  • Barings's ten largest holdings make up 73% of its $5.25B portfolio in Q3 2025.
  • Barings opened 17 new positions and closed 17 in Q3 2025.
  • Barings's portfolio value rose 23% quarter-over-quarter to $5.25B.

Based on Barings's 13F filing for Q3 2025, filed 10 Nov 2025.