BARINGS LLC

CHARLOTTE, NC · CIK 9015 · 13F filing filed 2026-08-07

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)

$5.6bn reported value -9.0% vs Q1 2026

191positions

74.0%in top 10

31 new 55 added 65 reduced 19 sold out vs Q1 2026

This report includes the holdings of 5 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 International Investment Ltd – reports through this filing
Baring SICE (Taiwan) LTD – reports through this filing

Also in the report of:

Russell Investments Group, Ltd. – $22.2m of shares are in both reports

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

Holdings, Q2 2026

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	1,744,190	$1.3bn23.17%	23.17%	Added +70.5k	+70,543 4.2%
2	INVESCO QQQ TR UNIT SER 1 QQQ	QQQ	863,468	$635.9m11.28%	11.28%	Reduced -36.7k	-36,739 -4.1%
3	ISHARES TR RUS 2000 GRW ETF IWO	IWO	1,579,950	$622.4m11.04%	11.04%	Reduced -28.8k	-28,800 -1.8%
4	VANGUARD SCOTTSDALE FDS SHRT TRM CORP BD VCSH	VCSH	5,108,527	$403.7m7.16%	7.16%	Unchanged
5	ISHARES TR ISHS 1-5YR INVS IGSB	IGSB	6,840,027	$358.5m6.36%	6.36%	Unchanged
6	ISHARES TR IBOXX INV CP ETF LQD	LQD	2,720,211	$296.7m5.26%	5.26%	Reduced -5.9m	-5,892,152 -68.4%
7	JANUS DETROIT STR TR HENDRSON AAA CL JAAA	JAAA	4,909,176	$247.9m4.40%	4.40%	Reduced -8.0m	-8,000,000 -62.0%
8	BARINGS BDC INC COM BBDC	BBDC	13,639,681	$116.2m2.06%	2.06%	Unchanged
9	VANGUARD INTL EQUITY INDEX F TT WRLD ST ETF VT	VT	732,779	$115.0m2.04%	2.04%	Reduced -133.6k	-133,557 -15.4%
10	HERBALIFE LTD NOTE 4.250% 6/1 · principal HLF 4.25 06.15.28 · principal	HLF 4.25 06.15.28	59,612,000	$68.4m1.21%	1.21%	Added +2.8m	+2,787,000 4.9%
11	NCL CORP LTD NOTE 0.875% 4/1 · principal NCLH 0.875 04.15.30 · principal	NCLH 0.875 04.15.30	54,658,000	$60.9m1.08%	1.08%	New
12	PARSONS CORP DEL NOTE 2.625% 3/0 · principal PSN 2.625 03.01.29 · principal	PSN 2.625 03.01.29	61,696,000	$60.7m1.08%	1.08%	Added +15.6m	+15,573,000 33.8%
13	BLACKROCK ETF TRUST ISHARES US EQUIT DYNF	DYNF	765,431	$52.1m0.92%	0.92%	Added +282.8k	+282,771 58.6%
14	ISHARES INC MSCI WORLD ETF URTH	URTH	251,883	$51.0m0.91%	0.91%	Reduced -13.5k	-13,492 -5.1%
15	SPDR S&P 500 ETF TR TR UNIT SPY	SPY	63,642	$47.5m0.84%	0.84%	Reduced -14.4k	-14,363 -18.4%
16	PDD HOLDINGS INC SPONSORED ADS PDD	PDD	587,937	$44.8m0.80%	0.80%	Reduced -61.3k	-61,292 -9.4%
17	ISHARES TR FLTG RATE NT ETF FLOT	FLOT	780,000	$39.8m0.71%	0.71%	Unchanged
18	ACCELERANT HOLDINGS CL A ARX	ARX	3,128,867	$37.6m0.67%	0.67%	Unchanged
19	ANGLOGOLD ASHANTI PLC COM SHS AU	AU	456,162	$36.9m0.66%	0.66%	Added +27.7k	+27,693 6.5%
20	VANGUARD WORLD FD INF TECH ETF VGT	VGT	284,064	$34.0m0.60%	0.60%	Added +44.2k	+44,200 18.4%
21	ISHARES TR BROAD USD HIGH USHY	USHY	886,891	$32.8m0.58%	0.58%	Reduced -350.0k	-350,000 -28.3%
22	TOTALENERGIES SE ACT TTE	TTE	418,276	$32.5m0.58%	0.58%	Reduced -187.0k	-186,954 -30.9%
23	UNITI GROUP LLC NOTE 7.500%12/0 · principal UNIT 7.5 12.01.27 · principal	UNIT 7.5 12.01.27	23,333,000	$28.2m0.50%	0.50%	Reduced -4.3m	-4,288,000 -15.5%
24	WHEATON PRECIOUS METALS CORP COM WPM	WPM	248,925	$28.0m0.50%	0.50%	Reduced -22.0k	-22,018 -8.1%
25	ISHARES TR 7-10 YR TRSY BD IEF	IEF	281,884	$26.7m0.47%	0.47%	Reduced -6.3k	-6,329 -2.2%
26	ISHARES INC MSCI JPN ETF NEW EWJ	EWJ	281,415	$26.2m0.47%	0.47%	Reduced -54.4k	-54,355 -16.2%
27	PACER FDS TR BARINGS CLO MRKT AAAP	AAAP	1,000,000	$25.2m0.45%	0.45%	New
28	PACER FDS TR BARINGS SECURED PBSC	PBSC	1,000,000	$25.1m0.45%	0.45%	New
29	ISHARES TR MSCI EMG MKT ETF EEM	EEM	364,200	$24.9m0.44%	0.44%	Reduced -239.7k	-239,690 -39.7%
30	VANGUARD INDEX FDS S&P 500 ETF SHS VOO	VOO	35,299	$24.2m0.43%	0.43%	Unchanged
31	ASTRAZENECA PLC ORD AZN	AZN	126,110	$23.6m0.42%	0.42%	Reduced -16.9k	-16,922 -11.8%
32	SEA LTD SPONSORD ADS SE	SE	244,505	$23.4m0.42%	0.42%	Reduced -793	-793 -0.3%
33	SABRE GLBL INC NOTE 7.320% 8/0 · principal SABHLD 7.32 08.01.26 · principal	SABHLD 7.32 08.01.26	21,908,000	$22.0m0.39%	0.39%	Reduced -185.0k	-185,000 -0.8%
34	CRH PLC ORD CRH	CRH	203,461	$21.8m0.39%	0.39%	Added +427	+427 0.2%
35	SUNCOR ENERGY INC NEW COM SU	SU	374,061	$20.1m0.36%	0.36%	Added +85.3k	+85,278 29.5%
36	NU HLDGS LTD ORD SHS CL A NU	NU	1,491,372	$19.9m0.35%	0.35%	Added +434.5k	+434,515 41.1%
37	ITAU UNIBANCO HLDG S A SPON ADR REP PFD ITUB	ITUB	2,043,934	$16.7m0.30%	0.30%	Added +1.2m	+1,152,113 129.2%
38	OMNICELL COM NOTE 1.000%12/0 · principal OMCL 1 12.01.29 · principal	OMCL 1 12.01.29	15,735,000	$16.6m0.30%	0.30%	Unchanged
39	CHEVRON CORP NEW COM CVX	CVX	98,129	$16.3m0.29%	0.29%	Reduced -2.3k	-2,317 -2.3%
40	HDFC BANK LTD SPONSORED ADS HDB	HDB	607,057	$15.7m0.28%	0.28%	Reduced -9.0k	-8,979 -1.5%
41	AON PLC SHS CL A AON	AON	46,248	$15.3m0.27%	0.27%	Unchanged
42	GLOBAL X FDS X EMERGING MKT EMBD	EMBD	596,200	$14.3m0.25%	0.25%	Reduced -11.5k	-11,500 -1.9%
43	NUTRIEN LTD COM NTR	NTR	224,956	$14.2m0.25%	0.25%	Added +8.6k	+8,631 4.0%
44	QIAGEN NV ORD SHARES QGEN	QGEN	356,002	$13.8m0.24%	0.24%	Added +26.5k	+26,490 8.0%
45	EXXON MOBIL CORP COM XOM	XOM	100,721	$13.8m0.24%	0.24%	Reduced -1.7k	-1,739 -1.7%
46	BEIGENE LTD SPONSORED ADR ONC	ONC	42,815	$12.2m0.22%	0.22%	Unchanged
47	INVESCO EXCH TRADED FD TR II NASDAQ 100 ETF QQQM	QQQM	39,184	$11.9m0.21%	0.21%	Unchanged
48	CONOCOPHILLIPS COM COP	COP	113,783	$11.8m0.21%	0.21%	Reduced -1.6k	-1,638 -1.4%
49	ISHARES TR RUSSELL 2000 ETF IWM	IWM	34,127	$10.3m0.18%	0.18%	Unchanged
50	ZIFF DAVIS INC DEBT 3.625% 3/0 · principal ZD 3.625 03.01.28 · principal	ZD 3.625 03.01.28	10,000,000	$10.0m0.18%	0.18%	Unchanged
51	DARLING INGREDIENTS INC COM DAR	DAR	182,050	$9.9m0.18%	0.18%	Reduced -7.7k	-7,722 -4.1%
52	EOG RES INC COM EOG	EOG	75,916	$9.8m0.17%	0.17%	Unchanged
53	WILLIAMS COS INC COM WMB	WMB	128,927	$9.6m0.17%	0.17%	Added +25.0k	+25,016 24.1%
54	NEWMONT CORP COM NEM	NEM	97,945	$9.1m0.16%	0.16%	Reduced -3.5k	-3,492 -3.4%
55	FERRARI N V COM RACE	RACE	24,161	$9.0m0.16%	0.16%	Added +2.2k	+2,163 9.8%
56	FOMENTO ECONOMICO MEXICANO S SPON ADR UNITS FMX	FMX	69,146	$8.8m0.16%	0.16%	Reduced -21.5k	-21,468 -23.7%
57	VALERO ENERGY CORP COM VLO	VLO	33,649	$8.8m0.16%	0.16%	Added +6.5k	+6,450 23.7%
58	DEVON ENERGY CORP NEW COM DVN	DVN	208,091	$8.6m0.15%	0.15%	New
59	CENTRAIS ELETRICAS BRASILEIR SPONSORED ADR AXIAY	AXIAY	782,040	$8.3m0.15%	0.15%	Added +58.2k	+58,238 8.1%
60	KASPI KZ JSC SPONSORED ADS KSPI	KSPI	88,751	$7.7m0.14%	0.14%	Unchanged
61	NVIDIA CORPORATION COM NVDA	NVDA	38,262	$7.7m0.14%	0.14%	Added +3.9k	+3,948 11.5%
62	CONTANGO ORE INC COM CTGO	CTGO	476,190	$7.5m0.13%	0.13%	Unchanged
63	FREEPORT-MCMORAN INC CL B FCX	FCX	118,626	$7.5m0.13%	0.13%	Reduced -24.5k	-24,470 -17.1%
64	FABRINET SHS FN	FN	13,199	$7.4m0.13%	0.13%	Reduced -3.8k	-3,834 -22.5%
65	VALE S A SPONSORED ADS VALE	VALE	477,943	$7.2m0.13%	0.13%	Reduced -117.2k	-117,236 -19.7%
66	PHILLIPS 66 COM PSX	PSX	41,977	$7.1m0.13%	0.13%	New
67	EOS ENERGY ENTERPRISES INC COM CL A EOSE	EOSE	1,204,430	$7.1m0.13%	0.13%	Unchanged
68	PETROLEO BRASILEIRO SA PETRO SP ADR NON VTG PBR.A	PBR.A	478,910	$7.0m0.12%	0.12%	Added +110.1k	+110,116 29.9%
69	H WORLD GROUP LTD SPONSORED ADS HTHT	HTHT	165,532	$6.9m0.12%	0.12%	Reduced -634	-634 -0.4%
70	VANGUARD INDEX FDS VALUE ETF VTV	VTV	31,595	$6.9m0.12%	0.12%	Reduced -60.6k	-60,595 -65.7%
71	CREDICORP LTD COM BAP	BAP	17,585	$6.9m0.12%	0.12%	Reduced -10.7k	-10,704 -37.8%
72	CAMDEN PPTY TR SH BEN INT CPT	CPT	57,104	$6.5m0.12%	0.12%	Unchanged
73	DEERE & CO COM DE	DE	10,068	$6.4m0.11%	0.11%	Added +2.3k	+2,303 29.7%
74	DIAMONDBACK ENERGY INC COM FANG	FANG	36,210	$6.4m0.11%	0.11%	Reduced -1.9k	-1,889 -5.0%
75	GRUPO CIBEST SA SPON ADS CIB	CIB	74,034	$5.9m0.10%	0.10%	Reduced -7.5k	-7,466 -9.2%
76	CAMECO CORP COM CCJ	CCJ	57,330	$5.8m0.10%	0.10%	Added +12.8k	+12,782 28.7%
77	AGNICO EAGLE MINES LTD COM AEM	AEM	37,113	$5.8m0.10%	0.10%	Reduced -8.2k	-8,190 -18.1%
78	CORTEVA INC COM CTVA	CTVA	67,121	$5.7m0.10%	0.10%	Added +1.8k	+1,760 2.7%
79	SOCIEDAD QUIMICA Y MINERA DE SPON ADR SER B SQM	SQM	75,177	$5.6m0.10%	0.10%	Reduced -12.0k	-12,009 -13.8%
80	TECK RESOURCES LTD CL B TECK	TECK	92,626	$5.5m0.10%	0.10%	Reduced -9.4k	-9,399 -9.2%
81	BARRICK MNG CORP COM SHS B	B	147,091	$5.4m0.10%	0.10%	Reduced -6.7k	-6,698 -4.4%
82	VANECK ETF TRUST GOLD MINERS ETF GDX	GDX	71,078	$5.4m0.10%	0.10%	Reduced -1.4k	-1,409 -1.9%
83	APPLE INC COM AAPL	AAPL	17,793	$5.1m0.09%	0.09%	Added +5.4k	+5,361 43.1%
84	AMAZON COM INC COM AMZN	AMZN	21,520	$5.1m0.09%	0.09%	Added +4.2k	+4,185 24.1%
85	LINDE PLC SHS LIN	LIN	9,684	$5.0m0.09%	0.09%	Added +80	+80 0.8%
86	BARINGS PARTN INVS SH BEN INT MPV	MPV	289,151	$4.9m0.09%	0.09%	Added +3.3k	+3,276 1.1%
87	MICROSOFT CORP COM MSFT	MSFT	12,119	$4.5m0.08%	0.08%	Added +121	+121 1.0%
88	BUNGE GLOBAL SA COM SHS BG	BG	42,250	$4.5m0.08%	0.08%	Added +476	+476 1.1%
89	ARCHER DANIELS MIDLAND CO COM ADM	ADM	56,175	$4.3m0.08%	0.08%	Added +1.5k	+1,462 2.7%
90	ALPHABET INC CAP STK CL A GOOGL	GOOGL	11,885	$4.2m0.08%	0.08%	Reduced -401	-401 -3.3%
91	ISHARES TR GLB INFRASTR ETF IGF	IGF	62,966	$4.2m0.07%	0.07%	Reduced -12.8k	-12,837 -16.9%
92	ISHARES TR BLACKROCK ULTRA ICSH	ICSH	78,600	$4.0m0.07%	0.07%	Unchanged
93	CF INDS HLDGS INC COM CF	CF	36,537	$4.0m0.07%	0.07%	Reduced -26.0k	-26,023 -41.6%
94	SCHLUMBERGER LTD COM STK SLB	SLB	83,065	$3.9m0.07%	0.07%	New
95	BARINGS CORPORATE INVS COM MCI	MCI	219,664	$3.9m0.07%	0.07%	Unchanged
96	ISHARES TR MSCI ACWI ETF ACWI	ACWI	24,240	$3.8m0.07%	0.07%	Reduced -10.2k	-10,154 -29.5%
97	EQUITY RESIDENTIAL SH BEN INT VMRK	VMRK	52,076	$3.5m0.06%	0.06%	Unchanged
98	SOUTHERN COPPER CORP COM SCCO	SCCO	19,856	$3.5m0.06%	0.06%	Reduced -15.2k	-15,181 -43.3%
99	WEYERHAEUSER CO MTN BE COM NEW WY	WY	143,864	$3.4m0.06%	0.06%	Reduced -11.1k	-11,087 -7.2%
100	DOW INC COM DOW	DOW	121,612	$3.3m0.06%	0.06%	Reduced -47.7k	-47,749 -28.2%

Sold out since Q1 2026

Security	Ticker	Shares held before	Value then
ISHARES TR IGV	IGV	240,898	$19.3m240.9k shares
COTERRA ENERGY INC CTRA	CTRA	304,689	$10.7m304.7k shares
FUTU HLDGS LTD FUTU	FUTU	58,054	$7.9m58.1k shares
ENBRIDGE INC ENB	ENB	129,888	$7.0m129.9k shares
XP INC XP	XP	200,683	$3.8m200.7k shares
VANECK ETF TRUST MOAT	MOAT	24,935	$2.4m24.9k shares
VANGUARD SCOTTSDALE FDS VTWO	VTWO	15,737	$1.6m15.7k shares
INTERCORP FINL SVCS INC IFS	IFS	26,880	$1.3m26.9k shares
VANGUARD INTL EQUITY INDEX F VWO	VWO	22,940	$1.2m22.9k shares
FIDELITY NATL INFORMATION SV FIS	FIS	18,671	$875.9k18.7k shares
ELME COMMUNITIES ELME	ELME	49,487	$834.4k49.5k shares
ISHARES TR EAGG	EAGG	17,310	$823.1k17.3k shares
PILGRIMS PRIDE CORP PPC	PPC	19,328	$729.8k19.3k shares
INTUIT INTU	INTU	1,407	$608.4k1.4k shares
AXON ENTERPRISE INC AXON	AXON	930	$395.0k930 shares
ISHARES TR TLH	TLH	2,963	$298.4k3.0k shares
PHILIP MORRIS INTL INC PM	PM	1,322	$218.6k1.3k shares
VERIZON COMMUNICATIONS INC VZ	VZ	3,989	$200.2k4.0k shares
WIPRO LTD WIT	WIT	40,639	$86.2k40.6k 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