BARINGS LLC

CHARLOTTE, NC · CIK 9015 · 13F filing filed 2023-05-09

SEC-registered investment adviser since 1940 · limited liability company

Assets managed$392.8bn
Staff1,101 · 465 in investment roles
Main clients (by assets)Insurers 73%, Private funds 19%, Pension plans 3%
Private funds91 (4 hedge) · $30.2bn gross assets
Form ADV · 2026-08-11SEC adviser record

Legal entityBARINGS LLC (US)

Kindhedge funds, private equity, real estate, structured credit, institutions, futures, FCA fund manager
Others nearbyCharlotte, NC, Chevy Chase, MD, London, Sydney, New York, NY, Boston, MA
FamilyBARINGS LLC · 4 related pages

As an employer

Offices in1 country
Private fundssecuritized asset 54, other private 14, real estate 6, private equity 13

Where they work

people there (dot area)number not reportedmain officeHover or tap a dot. Australian and UK companies are placed at their business or registered address, with their staff across the whole country.

Offices

From Form ADV: the main office and the other offices where it does advisory work (at most the 25 largest), with the people doing investment work at each. “About” is worked out: the firm's investment staff less its other offices. Each city links to the other managers there.

City	Country	People
Charlotte, NC (main office)United States	United States	about 222
New York, NY2 officesUnited States	United States	89
Boston, MAUnited States	United States	42
Chicago, ILUnited States	United States	37
Chevy Chase, MDUnited States	United States	23
El Segundo, CAUnited States	United States	23
Los Angeles, CAUnited States	United States	11
Foxborough, MAUnited States	United States	8
Springfield, MAUnited States	United States	7
Atlanta, GAUnited States	United States	3

US visa salary filings

Filings FY2024–202618
Median salary offered$135,550
Middle half$125,808 – $153,375
Job titles14
E-3 (Australians)2

Job title	Filings	Median	Range
Senior Cloud Data EngineerCharlotte, NC	3	$133,000	$133,000 – $163,200
Residential- AbfCharlotte, NC	2	$247,000
Software EngineerCharlotte, NC	2	$135,800
Commercial - AbfNew York, NY	1	$190,000
Lead Cloud Data EngineerCharlotte, NC	1	$155,000
Appian Developer (Associate Director)Charlotte, NC	1	$148,500
Director – Data Services DeveloperCharlotte, NC	1	$139,500
DeveloperCharlotte, NC	1	$135,300
Director (Software Developer)Charlotte, NC	1	$128,232	$128,232 – $158,000
Salesforce DeveloperCharlotte, NC	1	$125,000
Technical Business AnalystCharlotte, NC	1	$124,500	$124,500 – $199,300
Systems Analyst (Director)Charlotte, NC	1	$124,500	$124,500 – $199,300

2 more job titles

Associate Director, Software EngineeringNorth Carolina, NC	1	$122,500
Senior OriginatorNew York, NY	1	$112,715	$112,715 – $184,000

Source: US Department of Labor, Labor Condition Application disclosure data (certified, full-time, yearly equivalent). These are the salaries the employer committed to pay the visa roles it filed for, at least the prevailing wage for the job and place; they are not the pay of all its staff. Filed by: Barings LLC, Barings, LLC.

Map: places from GeoNames (CC BY 4.0), outlines from Natural Earth.

$2.9bn reported value +3.2% vs Q4 2022

161positions

65.6%in top 10

20 new 41 added 58 reduced 47 sold out vs Q4 2022

This report includes the holdings of 4 other managers that share the investment decisions:

BARING ASSET MANAGEMENT (ASIA) Ltd – reports through this filing
BARING ASSET MANAGEMENT Ltd – reports through this filing
Baring Asset Management Korea Ltd – reports through this filing
Baring SICE (Taiwan) LTD – reports through this filing

Shares in two reports are counted once in each security's totals.

Holdings, Q1 2023

The small lines show how much was held over the last 4 quarters (adjusted for stock splits).

#	Security	Ticker	Shares	Value	% of portfolio	Change	Shares change
1	ISHARES TR CORE S&P500 ETF IVV	IVV	1,790,404	$736.0m25.28%	25.28%	Added +165.3k	+165,340 10.2%
2	INVESCO QQQ TR UNIT SER 1 QQQ	QQQ	1,115,629	$358.0m12.30%	12.30%	Added +16.8k	+16,809 1.5%
3	ISHARES TR RUS 2000 GRW ETF IWO	IWO	1,362,850	$309.1m10.62%	10.62%	Reduced -27.3k	-27,300 -2.0%
4	BARINGS BDC INC COM BBDC	BBDC	13,639,681	$108.3m3.72%	3.72%	Unchanged
5	ISHARES TR IBOXX INV CP ETF LQD	LQD	799,592	$87.6m3.01%	3.01%	Added +647.4k	+647,432 425.5%
6	ISHARES TR CORE US AGGBD ET AGG	AGG	762,123	$75.9m2.61%	2.61%	Added +418.3k	+418,286 121.7%
7	VANGUARD INTL EQUITY INDEX F TT WRLD ST ETF VT	VT	687,648	$63.3m2.18%	2.18%	Added +401.6k	+401,576 140.4%
8	H WORLD GROUP LTD SPONSORED ADS HTHT	HTHT	1,242,888	$60.6m2.08%	2.08%	Added +377.8k	+377,800 43.7%
9	ISHARES TR FLTG RATE NT ETF FLOT	FLOT	1,186,140	$59.8m2.05%	2.05%	Reduced -482.4k	-482,428 -28.9%
10	ISHARES TR 7-10 YR TRSY BD IEF	IEF	519,235	$51.5m1.77%	1.77%	Added +298.1k	+298,052 134.8%
11	PDD HOLDINGS INC SPONSORED ADS PDD	PDD	664,266	$50.4m1.73%	1.73%	Added +182.5k	+182,504 37.9%
12	SUNCOR ENERGY INC NEW COM SU	SU	1,300,894	$40.4m1.39%	1.39%	Added +45.5k	+45,548 3.6%
13	NUTRIEN LTD COM NTR	NTR	509,806	$37.1m1.27%	1.27%	Added +10.3k	+10,266 2.1%
14	VANGUARD INTL EQUITY INDEX F FTSE EMR MKT ETF VWO	VWO	865,585	$35.0m1.20%	1.20%	Added +353.4k	+353,422 69.0%
15	SEA LTD SPONSORD ADS SE	SE	393,060	$34.0m1.17%	1.17%	Reduced -25.6k	-25,607 -6.1%
16	LINDE PLC SHS LIN	LIN	86,267	$30.7m1.05%	1.05%	New
17	TRIP COM GROUP LTD ADS TCOM	TCOM	792,130	$29.8m1.02%	1.02%	New
18	DISH NETWORK CORPORATION NOTE 3.375% 8/1 · principal DISH 3.375 08.15.26 · principal	DISH 3.375 08.15.26	56,889,000	$29.2m1.00%	1.00%	Unchanged
19	YUM CHINA HLDGS INC COM YUMC	YUMC	452,672	$28.7m0.99%	0.99%	Added +6.2k	+6,169 1.4%
20	ISHARES INC JP MRG EM CRP BD CEMB	CEMB	533,777	$23.3m0.80%	0.80%	Added +431.3k	+431,257 420.7%
21	EXXON MOBIL CORP COM XOM	XOM	197,461	$21.7m0.74%	0.74%	Reduced -12.1k	-12,127 -5.8%
22	DIGITALBRIDGE GROUP INC NOTE 5.000% 4/1 · principal DBRG 5 04.15.23 · principal	DBRG 5 04.15.23	21,500,000	$21.5m0.74%	0.74%	Unchanged
23	GARRETT MOTION INC PFD CONV SER A GTX 11 PERP A	GTX 11 PERP A	2,356,300	$20.9m0.72%	0.72%	Unchanged
24	ISHARES INC MSCI WORLD ETF URTH	URTH	167,692	$19.7m0.68%	0.68%	Reduced -43.3k	-43,312 -20.5%
25	WISDOMTREE TR EMER MKT HIGH FD DEM	DEM	518,204	$19.6m0.67%	0.67%	Added +180.0k	+180,015 53.2%
26	ISHARES TR EUROPE ETF IEV	IEV	378,805	$18.9m0.65%	0.65%	New
27	DEERE & CO COM DE	DE	40,949	$16.9m0.58%	0.58%	Reduced -12.7k	-12,722 -23.7%
28	ISHARES TR 1 3 YR TREAS BD SHY	SHY	202,121	$16.6m0.57%	0.57%	Reduced -36.7k	-36,738 -15.4%
29	BLACKROCK TCP CAPITAL CORP COM TCPC	TCPC	1,603,372	$16.5m0.57%	0.57%	Unchanged
30	PENNYMAC CORP NOTE 5.500%11/0 · principal PMT 5.5 11.01.24 · principal	PMT 5.5 11.01.24	17,000,000	$15.8m0.54%	0.54%	Unchanged
31	CONOCOPHILLIPS COM COP	COP	144,311	$14.3m0.49%	0.49%	Reduced -15.9k	-15,870 -9.9%
32	MFA FINL INC NOTE 6.250% 6/1 · principal MFA 6.25 06.15.24 · principal	MFA 6.25 06.15.24	15,000,000	$14.2m0.49%	0.49%	Unchanged
33	CF INDS HLDGS INC COM CF	CF	178,416	$12.9m0.44%	0.44%	Added +21.8k	+21,793 13.9%
34	TRACTOR SUPPLY CO COM TSCO	TSCO	54,315	$12.8m0.44%	0.44%	Added +233	+233 0.4%
35	ISHARES TR ESG AWR US AGRGT EAGG	EAGG	265,107	$12.7m0.44%	0.44%	Added +174.3k	+174,342 192.1%
36	INVESCO EXCHANGE TRADED FD T S&P 500 GARP ETF SPGP	SPGP	133,744	$11.4m0.39%	0.39%	New
37	CHEVRON CORP NEW COM CVX	CVX	69,883	$11.4m0.39%	0.39%	Unchanged
38	GREEN PLAINS INC COM GPRE	GPRE	352,630	$10.9m0.38%	0.38%	Reduced -135.0k	-134,986 -27.7%
39	HESS CORP COM HES	HES	82,328	$10.9m0.37%	0.37%	Reduced -6.8k	-6,780 -7.6%
40	EOG RES INC COM EOG	EOG	94,388	$10.8m0.37%	0.37%	Added +402	+402 0.4%
41	DARLING INGREDIENTS INC COM DAR	DAR	180,837	$10.6m0.36%	0.36%	Reduced -31.2k	-31,235 -14.7%
42	FIRST TR EXCHANGE-TRADED FD NASDQ CLN EDGE GRID	GRID	101,683	$9.9m0.34%	0.34%	New
43	ISHARES INC MSCI EURZONE ETF EZU	EZU	217,834	$9.8m0.34%	0.34%	Added +176.5k	+176,462 426.5%
44	GRAB HOLDINGS LIMITED CLASS A ORD GRAB	GRAB	3,323,176	$9.5m0.33%	0.33%	Unchanged
45	MOSAIC CO NEW COM MOS	MOS	202,994	$9.3m0.32%	0.32%	Added +4.0k	+3,975 2.0%
46	VANGUARD SCOTTSDALE FDS SHRT TRM CORP BD VCSH	VCSH	121,375	$9.3m0.32%	0.32%	Reduced -109.8k	-109,774 -47.5%
47	AGCO CORP COM AGCO	AGCO	68,430	$9.3m0.32%	0.32%	Reduced -1.1k	-1,080 -1.6%
48	DBX ETF TR XTRACK HRVST CSI ASHR	ASHR	313,033	$9.2m0.32%	0.32%	New
49	ISHARES TR SHORT TREAS BD SHV	SHV	80,801	$8.9m0.31%	0.31%	Reduced -309.2k	-309,156 -79.3%
50	BUNGE LIMITED COM BG	BG	92,274	$8.8m0.30%	0.30%	Unchanged
51	CNH INDL N V SHS CNH	CNH	576,035	$8.8m0.30%	0.30%	Reduced -198.2k	-198,211 -25.6%
52	VALERO ENERGY CORP COM VLO	VLO	62,105	$8.7m0.30%	0.30%	Reduced -6.7k	-6,749 -9.8%
53	CORTEVA INC COM CTVA	CTVA	142,032	$8.6m0.29%	0.29%	Unchanged
54	ANGLOGOLD ASHANTI LIMITED SPONSORED ADR AU	AU	353,478	$8.6m0.29%	0.29%	Unchanged
55	PETROLEO BRASILEIRO SA PETRO SP ADR NON VTG PBR.A	PBR.A	838,739	$7.8m0.27%	0.27%	Added +382.2k	+382,202 83.7%
56	VALE S A SPONSORED ADS VALE	VALE	483,225	$7.6m0.26%	0.26%	Reduced -63.6k	-63,606 -11.6%
57	ARCHER DANIELS MIDLAND CO COM ADM	ADM	91,642	$7.3m0.25%	0.25%	Added +406	+406 0.4%
58	BANCO BRADESCO S A SP ADR PFD NEW BBD	BBD	2,693,674	$7.1m0.24%	0.24%	Reduced -734.7k	-734,664 -21.4%
59	GLOBAL X FDS X EMERGING MKT EMBD	EMBD	320,800	$7.0m0.24%	0.24%	Added +132.0k	+132,000 69.9%
60	DOW INC COM DOW	DOW	126,051	$6.9m0.24%	0.24%	Unchanged
61	SHERWIN WILLIAMS CO COM SHW	SHW	30,198	$6.8m0.23%	0.23%	Added +3.4k	+3,427 12.8%
62	ITAU UNIBANCO HLDG S A SPON ADR REP PFD ITUB	ITUB	1,376,861	$6.7m0.23%	0.23%	Reduced -115.8k	-115,808 -7.8%
63	FIRST TR EXCH TRADED FD III PFD SECS INC ETF FPE	FPE	405,523	$6.5m0.22%	0.22%	Added +90.0k	+89,972 28.5%
64	MICROSOFT CORP COM MSFT	MSFT	22,013	$6.3m0.22%	0.22%	Added +5	+5 0.0%
65	ZTO EXPRESS CAYMAN INC SPONSORED ADS A ZTO	ZTO	219,334	$6.3m0.22%	0.22%	Reduced -920.3k	-920,323 -80.8%
66	LI AUTO INC SPONSORED ADS LI	LI	244,323	$6.1m0.21%	0.21%	Unchanged
67	INVESCO EXCH TRADED FD TR II SOLAR ETF TAN	TAN	75,348	$5.8m0.20%	0.20%	Reduced -41.8k	-41,751 -35.6%
68	AMCOR PLC ORD AMCR	AMCR	507,256	$5.8m0.20%	0.20%	Unchanged
69	ISHARES INC MSCI HONG KG ETF EWH	EWH	278,634	$5.7m0.20%	0.20%	Reduced -141.4k	-141,392 -33.7%
70	VANGUARD WORLD FD INF TECH ETF VGT	VGT	14,257	$5.5m0.19%	0.19%	New
71	LYONDELLBASELL INDUSTRIES N SHS - A - LYB	LYB	53,262	$5.0m0.17%	0.17%	New
72	ISHARES TR MSCI USA QLT FCT QUAL	QUAL	40,251	$5.0m0.17%	0.17%	Reduced -315.7k	-315,707 -88.7%
73	SOCIEDAD QUIMICA Y MINERA DE SPON ADR SER B SQM	SQM	56,886	$4.6m0.16%	0.16%	Reduced -26.7k	-26,671 -31.9%
74	BANCOLOMBIA S A SPON ADR PREF CIB	CIB	166,457	$4.2m0.14%	0.14%	Unchanged
75	ISHARES TR ISHS 1-5YR INVS IGSB	IGSB	76,800	$3.9m0.13%	0.13%	Unchanged
76	TDCX INC ADS ADS		433,217	$3.9m0.13%	0.13%	Added +72.2k	+72,173 20.0%
77	FMC CORP COM NEW FMC	FMC	30,719	$3.8m0.13%	0.13%	Unchanged
78	AON PLC SHS CL A AON	AON	11,703	$3.7m0.13%	0.13%	Reduced -2.1k	-2,130 -15.4%
79	UNITEDHEALTH GROUP INC COM UNH	UNH	7,360	$3.5m0.12%	0.12%	Added +389	+389 5.6%
80	ISHARES TR MSCI ACWI ETF ACWI	ACWI	36,247	$3.3m0.11%	0.11%	Added +5.7k	+5,657 18.5%
81	ISHARES TR CORE MSCI EURO IEUR	IEUR	61,707	$3.2m0.11%	0.11%	Added +51.0k	+50,951 473.7%
82	AMAZON COM INC COM AMZN	AMZN	31,289	$3.2m0.11%	0.11%	Reduced -214	-214 -0.7%
83	BARINGS CORPORATE INVS COM COM		219,664	$3.1m0.11%	0.11%	Unchanged
84	EOS ENERGY ENTERPRISES INC COM CL A EOSE	EOSE	1,204,430	$3.1m0.11%	0.11%	Unchanged
85	VANGUARD SCOTTSDALE FDS INTER TERM TREAS VGIT	VGIT	50,188	$3.0m0.10%	0.10%	Unchanged
86	AMBEV SA SPONSORED ADR ABEV	ABEV	1,006,832	$2.8m0.10%	0.10%	Reduced -163.2k	-163,187 -13.9%
87	ISHARES TR MSCI AC ASIA ETF AAXJ	AAXJ	40,146	$2.7m0.09%	0.09%	Reduced -13.7k	-13,745 -25.5%
88	ISHARES TR CONV BD ETF ICVT	ICVT	33,764	$2.5m0.08%	0.08%	New
89	MCDONALDS CORP COM MCD	MCD	8,545	$2.4m0.08%	0.08%	Added +169	+169 2.0%
90	PETROLEO BRASILEIRO SA PETRO SPONSORED ADR PBR	PBR	214,013	$2.2m0.08%	0.08%	Unchanged
91	APPLE INC COM AAPL	AAPL	12,729	$2.1m0.07%	0.07%	Reduced -3.2k	-3,171 -19.9%
92	BIOLIFE SOLUTIONS INC COM NEW BLFS	BLFS	91,316	$2.0m0.07%	0.07%	Unchanged
93	BARINGS PARTN INVS TRUST COM COM		143,404	$1.8m0.06%	0.06%	Unchanged
94	COMPANHIA DE SANEAMENTO BASI SPONSORED ADR SBS	SBS	161,760	$1.6m0.06%	0.06%	Added +50.1k	+50,057 44.8%
95	VISTA ENERGY S.A.B. DE C.V. SPONSORED ADS VIST	VIST	80,828	$1.6m0.05%	0.05%	Reduced -120.8k	-120,777 -59.9%
96	WEATHERFORD INTL PLC ORD SHS WFRD	WFRD	26,861	$1.6m0.05%	0.05%	Unchanged
97	VISA INC COM CL A V	V	6,839	$1.5m0.05%	0.05%	Reduced -2.1k	-2,055 -23.1%
98	TJX COS INC NEW COM TJX	TJX	19,274	$1.5m0.05%	0.05%	Reduced -4.1k	-4,126 -17.6%
99	VALARIS LTD CL A VAL	VAL	19,835	$1.3m0.04%	0.04%	Unchanged
100	THERMO FISHER SCIENTIFIC INC COM TMO	TMO	2,204	$1.3m0.04%	0.04%	Added +394	+394 21.8%

Sold out since Q4 2022

Security	Ticker	Shares held before	Value then
VANGUARD SPECIALIZED FUNDS VIG	VIG	583,507	$88.6m583.5k shares
ISHARES TR HDV	HDV	774,204	$80.7m774.2k shares
FIRST TR MORNINGSTAR DIVID L FDL	FDL	728,680	$26.6m728.7k shares
LINDE PLC 99952EUR	99952EUR	51,552	$16.8m51.6k shares
ISHARES TR IXJ	IXJ	148,956	$12.6m149.0k shares
KE HLDGS INC BEKE	BEKE	729,629	$10.2m729.6k shares
ISHARES TR IYH	IYH	33,473	$9.5m33.5k shares
ISHARES TR ICLN	ICLN	467,451	$9.3m467.5k shares
SPDR SER TR JNK	JNK	100,000	$9.0m100.0k shares
AIR PRODS & CHEMS INC APD	APD	28,079	$8.7m28.1k shares
VANGUARD WHITEHALL FDS VYM	VYM	75,643	$8.2m75.6k shares
BLACKSTONE MORTGAGE TRUST IN BXMT 4.75 03.15.23	BXMT 4.75 03.15.23	6,000,000	$6.0m6.0m shares
SPDR S&P 500 ETF TR SPY	SPY	15,535	$5.9m15.5k shares
FIRST TR EXCHANGE-TRADED FD QCLN	QCLN	121,158	$5.7m121.2k shares
ISHARES TR SHYG	SHYG	137,505	$5.6m137.5k shares
CENTRAIS ELETRICAS BRASILEIR AXIAY	AXIAY	649,975	$5.2m650.0k shares
ROYAL CARIBBEAN GROUP RCL 4.25 06.15.23	RCL 4.25 06.15.23	4,989,000	$5.0m5.0m shares
ALBEMARLE CORP ALB	ALB	19,732	$4.3m19.7k shares
WHEATON PRECIOUS METALS CORP WPM	WPM	71,758	$2.8m71.8k shares
ZHIHU INC		1,888,411	$2.5m1.9m shares
ISHARES TR IGV	IGV	9,305	$2.4m9.3k shares
GERDAU SA GGB	GGB	287,104	$1.6m287.1k shares
SELECT SECTOR SPDR TR XLV	XLV	11,590	$1.6m11.6k shares
VANGUARD INDEX FDS VTV	VTV	5,310	$745.4k5.3k shares
ELI LILLY & CO LLY	LLY	1,889	$691.1k1.9k shares

Stakes above 5%

Companies where this manager has reported owning more than 5% of a class of shares, on Schedule 13D (may seek influence) or 13G (passive): its latest filing for each, from 19 Dec 2024 on.

Company	Ticker	Stake	Change	Schedule	Last filed
FS CREDIT OPPORTUNITIES CORP FSCO · 13G · filed 2026-03-06	FSCO	32.5%	+6.2 pts	13G	2026-03-06
TORTOISE ENERGY INFRA CORP TYG · 13G · filed 2025-09-08	TYG	14.3%	new	13G	2025-09-08