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BARINGS LLC

300 SOUTH TRYON STREET SUITE 2500, CHARLOTTE, NC 28202 • 704-805-7200

Q4 2025 · Filed 2026-02-12
Market Value
$5.2B
+2.6%
Holdings
172
-2
New Purchases
14
Added To
45
Closed
16
Reduced
57
Top 10 Concentration
77.2%
Turnover
17.4%

Top Buys (by % of Portfolio)

SymbolCur %Prior %Chg %Value
IVV 22.94% 21.24% +1.70% $1.2B
TOTB.DE 0.51% 0.00% +0.51% $27M
VGT 0.56% 0.23% +0.33% $29M
QQQ 10.87% 10.64% +0.23% $561M
VT 2.42% 2.22% +0.20% $125M
SCCO 0.17% 0.02% +0.15% $9M
VCLT 0.28% 0.14% +0.14% $14M
FCX 0.23% 0.09% +0.14% $12M
IWO 10.46% 10.32% +0.13% $540M
EPAM 0.11% 0.00% +0.11% $5M
SQM 0.10% 0.00% +0.10% $5M
GDX 0.11% 0.01% +0.10% $6M
NEM 0.27% 0.19% +0.08% $14M
HDB 0.48% 0.40% +0.08% $25M
ICSH 0.08% 0.00% +0.08% $4M

Top Sells (by % of Portfolio)

SymbolCur %Prior %Chg %Value
IGV 0.22% 0.62% -0.40% $11M
EEM 0.21% 0.56% -0.35% $11M
IVW 0.64% 0.89% -0.25% $33M
SPY 1.29% 1.52% -0.23% $66M
VCSH 7.89% 8.11% -0.23% $407M
LQD 5.91% 6.14% -0.22% $305M
YUMC 0.00% 0.22% -0.22% $0
SU 0.07% 0.29% -0.22% $4M
IGSB 7.00% 7.21% -0.20% $362M
LIN 0.08% 0.27% -0.19% $4M
SE 0.55% 0.74% -0.19% $29M
JAAA 5.88% 6.05% -0.18% $303M
VNET 0.00% 0.17% -0.17% $0
WPM 0.86% 0.99% -0.13% $45M
ONC 0.25% 0.38% -0.12% $13M

Sector Allocation Over Time

Industry Breakdown

IndustryWeight
Financial Services 89.1%
Energy 3.3%
Basic Materials 2.9%
Consumer Cyclical 1.9%
Healthcare 0.7%

Market Cap Concentration

TierHoldingsValueWeight
Mega Cap 35 $1.9B 37.0%
Large Cap 95 $2.8B 54.8%
Mid Cap 25 $233M 4.5%
Small Cap 12 $160M 3.1%
Micro Cap 5 $33M 0.6%

Portfolio Analytics

Avg Market Cap
$289.0B
Median Market Cap
$36.1B
Avg P/E
31.4
Median P/E
23.1
Avg Dividend Yield
0.09%
Avg Beta
0.85
# Stocks
122
# ETFs / Funds
50

Top Holdings (172 total)

# Symbol % Port Shares Value Avg Price Q/Q Value Chg Share Chg Chg % Status
1 IVV 22.94% 1,717,450 $1.2B $689.92 $116M +114,197 +7.1%
2 QQQ 10.87% 906,307 $561M $619.43 $26M +11,900 +1.3%
3 IWO 10.46% 1,657,750 $540M $325.75 $20M +33,300 +2.0%
4 VCSH 7.89% 5,108,527 $407M $79.73 -$1M
5 IGSB 7.00% 6,840,027 $362M $52.88 -$1M
6 LQD 5.91% 2,771,727 $305M $110.19 -$4M
7 JAAA 5.88% 6,000,000 $303M $50.58 -$1M
8 BBDC 2.42% 13,639,681 $125M $9.18 $6M
9 VT 2.42% 884,856 $125M $141.06 $13M +73,344 +9.0%
10 PDD 1.44% 654,567 $74M $113.39 $3M +115,567 +21.4%
11 SPY 1.29% 97,330 $66M $681.92 -$10M -17,455 -15.2%
12 IEF 1.23% 659,861 $63M $96.16 $3M +28,018 +4.4%
13 URTH 1.04% 288,921 $54M $185.77 -$3M -22,190 -7.1%
14 USHY 0.86% 1,191,000 $45M $37.40 -$150K +8,000 +0.7%
15 WPM 0.86% 378,880 $45M $117.56 -$5M -67,813 -15.2%
16 ARX 0.81% 3,128,867 $42M $13.40 -$4M
17 FLOT 0.77% 780,000 $40M $50.86 -$179K
18 IVW 0.64% 269,017 $33M $123.26 -$12M -102,192 -27.5%
19 IEV 0.63% 472,278 $32M $68.60 -$5M -94,045 -16.6%
20 CRH.L 0.63% 258,726 $32M $124.80 -$1M -19,772 -7.1%
21 VGT 0.56% 38,218 $29M $753.78 $17M +22,807 +148.0%
22 SE 0.55% 223,923 $29M $127.57 -$9M +14,538 +6.9%
23 DYNF 0.55% 466,291 $28M $60.81 $3M +41,480 +9.8%
24 NU 0.51% 1,584,505 $27M $16.74 $1M -1,762 -0.1%
25 TOTB.DE 0.51% 406,567 $27M $65.22 +406,567 NEW
26 AON 0.49% 71,077 $25M $352.88 $4M +11,444 +19.2%
27 HDB 0.48% 682,813 $25M $36.54 $5M +86,955 +14.6%
28 VOO 0.43% 35,299 $22M $627.13 $521K
29 EMBD 0.30% 651,200 $16M $23.94 -$685K -33,200 -4.8%
30 VCLT 0.28% 190,000 $14M $75.85 $7M +100,060 +111.2%
31 EWJ 0.28% 177,148 $14M $80.74 -$2M -21,518 -10.8%
32 NEM 0.27% 141,128 $14M $99.85 $4M +27,352 +24.0%
33 CVX 0.27% 92,398 $14M $152.41 -$267K -7 -0.0%
34 EOSE 0.27% 1,204,430 $14M $11.46 $84K
35 ONC 0.25% 42,815 $13M $303.81 -$6M -12,789 -23.0%
36 CTGO 0.24% 476,190 $13M $26.41 $705K
37 XOM 0.24% 102,087 $12M $120.34 $775K
38 FCX 0.23% 235,039 $12M $50.79 $7M +114,959 +95.7%
39 IGV 0.22% 108,479 $11M $105.69 -$20M -162,659 -60.0%
40 VALE 0.22% 878,365 $11M $13.03 $3M +85,715 +10.8%
41 EEM 0.21% 197,788 $11M $54.71 -$18M -332,896 -62.7%
42 COP 0.21% 114,783 $11M $93.61 $74K +1,972 +1.8%
43 NBR 0.19% 179,841 $10M $54.30 $1M -32,686 -15.4%
44 ENB 0.17% 185,942 $9M $47.85 -$481K
45 SCCO 0.17% 61,478 $9M $143.47 $8M +53,793 +700.0%
46 QQQM 0.16% 32,670 $8M $252.92 -$894K -4,386 -11.8%
47 BAP 0.16% 28,289 $8M $287.00 -$59K -2,423 -7.9%
48 JXI 0.16% 102,707 $8M $78.65 $102K
49 FMX 0.16% 79,217 $8M $101.07 $844K +6,600 +9.1%
50 EOG 0.15% 75,916 $8M $105.01 $164K +6,273 +9.0%
51 NTR 0.15% 126,808 $8M $61.72 $3M +45,114 +55.2%
52 FN 0.15% 17,033 $8M $455.28 $2M
53 AEM 0.15% 45,029 $8M $169.59 $54K
54 PAAS 0.14% 138,681 $7M $51.81 $672K -29,477 -17.5%
55 DAR 0.13% 189,772 $7M $36.00 -$689K -53,841 -22.1%
56 EQT 0.13% 126,786 $7M $53.60 -$105K
57 AXIA 0.13% 723,802 $7M $9.16 -$60K +49,417 +7.3%
58 MSFT 0.13% 13,598 $7M $483.62 -$407K +116 +0.9%
59 ITUB 0.12% 891,821 $6M $7.16 -$2M -242,505 -21.4%
60 EZU 0.12% 99,439 $6M $64.10 $215K
61 CPT 0.12% 57,104 $6M $110.08 $599K
62 TECK 0.12% 129,609 $6M $47.89 $2M +34,027 +35.6%
63 GDX 0.11% 68,047 $6M $85.77 $5M +59,934 +738.7%
64 NVDA 0.11% 30,750 $6M $186.50 -$956K -5,108 -14.2%
65 EPAM 0.11% 26,486 $5M $204.88 +26,486 NEW
66 SQM 0.10% 77,312 $5M $68.80 +77,312 NEW
67 CTVA 0.10% 74,807 $5M $67.03 -$3M -42,916 -36.5%
68 PBR-A 0.09% 428,646 $5M $11.27 -$236K
69 ACWI 0.09% 33,428 $5M $141.49 $732K +4,506 +15.6%
70 AMZN 0.09% 19,799 $5M $230.82 -$657K -4,005 -16.8%
71 MPV 0.09% 283,014 $4M $15.89 -$1M +2,673 +0.9%
72 CTRA 0.09% 167,626 $4M $26.32 $2M +82,298 +96.5%
73 LIN 0.08% 9,604 $4M $426.39 -$10M -19,397 -66.9%
74 CCJ 0.08% 44,548 $4M $91.57 $2M +14,272 +47.1%
75 GOOGL 0.08% 13,012 $4M $313.00 $418K -2,023 -13.5%
76 MCI 0.08% 219,664 $4M $18.15 -$573K
77 ICSH 0.08% 78,600 $4M $50.58 +78,600 NEW
78 GLD 0.08% 9,828 $4M $397.45 -$2M -7,565 -43.5%
79 SU 0.07% 87,175 $4M $44.39 -$11M -266,680 -75.4%
80 AAPL 0.07% 13,353 $4M $271.86 $151K -310 -2.3%
81 CF 0.07% 45,674 $4M $77.34 $2M +30,820 +207.5%
82 IGF 0.07% 54,808 $3M $61.36 $322K +5,058 +10.2%
83 ADM 0.06% 58,121 $3M $57.49 -$5M -73,984 -56.0%
84 DE 0.06% 7,130 $3M $465.57 -$58K -257 -3.5%
85 EQR 0.06% 52,076 $3M $63.04 $216K
86 VLO 0.06% 19,903 $3M $162.79 -$149K
87 V 0.06% 9,222 $3M $350.71 $656K +1,670 +22.1%
88 FPE 0.06% 175,090 $3M $18.22 -$2M -100,291 -36.4%
89 TCPC 0.06% 540,615 $3M $5.47 -$21K +60,293 +12.6%
90 JPM 0.05% 8,627 $3M $322.22 $978K +2,914 +51.0%
91 META 0.05% 4,156 $3M $660.09 $684K +1,352 +48.2%
92 TSCO 0.05% 52,370 $3M $50.01 -$474K -2,010 -3.7%
93 MOAT 0.05% 24,935 $3M $103.56 $111K
94 WY 0.05% 104,457 $2M $23.69 -$191K -3,089 -2.9%
95 EWH 0.04% 108,175 $2M $21.25 -$1M -55,818 -34.0%
96 SHW 0.04% 7,091 $2M $324.03 -$158K
97 BLFS 0.04% 91,316 $2M $24.18 -$121K
98 SUSC 0.04% 90,424 $2M $23.38 -$747K -31,008 -25.5%
99 MOS 0.04% 85,299 $2M $24.09 -$508K +11,404 +15.4%
100 LLY 0.04% 1,865 $2M $1,074.68 $2M +1,297 +228.3%

New Positions

SymbolValue% Port
TOTB.DE $27M 0.51%
EPAM $5M 0.11%
SQM $5M 0.10%
ICSH $4M 0.08%
BABA $1M 0.03%
XLK $1M 0.03%
TLH $812K 0.02%
MICC $535K 0.01%
MRK $212K —%
GE $210K —%
GS $206K —%
HD $205K —%
IBM $203K —%
C $202K —%

Sold Out Positions

SymbolValue% Port
NEE —%
CRM —%
CPNG —%
GPK —%
YUMC —%
NUE —%
EMXC —%
EEMA —%
LIF —%
MCHI —%
HYG —%
NET —%
RSP —%
CEG —%
BIZD —%
View SEC EDGAR Filings for BARINGS LLC →

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For informational purposes only. Not investment advice. Data sourced from SEC filings. Privacy Terms