Barings Participation Investors
Sponsor: Barings · Inception Oct 24, 1988 · Pays quarterly
Market priceShare price
$16.94
+0.89% (+$0.15)
NAVAsset value per share
—
as of —
Premium / discountPrice vs. assets
NAV unavailable
Close vs NAV, Oct 15, 2026
Distribution rate (price)Payout rate
8.74%
regular, annualised · on NAV —
Expense ratioAnnual cost
Not reported
no tagged fee table
LeverageBorrowing
Not reported
senior securities not tagged
Quote status: Market closed — last regular-session price · last trade Oct 16, 2026, 3:57 PM EDT (exchange time, ET) · retrieved Oct 16, 2026, 5:45 PM EDTRegular-session prices; extended-hours quotes are not displayed.
Full portfolio as filed on SEC Form N-PORT for the month ending Jun 30, 2026, filed Aug 28, 2026. 570 positions; weights are percent of net assets as reported. Weights sum to 100.0% — leverage, cash, derivatives and short positions mean totals need not equal 100%. This is a historical report, not a live portfolio.
Top 10 holdings
| # | Security | Type | Country | Weight | Value (USD) |
|---|---|---|---|---|---|
| 1 | Madison Air Solutions Corp | Equity | United States | 10.08% | $23.1M |
| 2 | STACKLINE | Loan | United States | 1.23% | $2.8M |
| 3 | HEARTLAND VETERINARY PTR LLC | Loan | United States | 1.02% | $2.3M |
| 4 | RPX CORPORATION | Loan | United States | 0.95% | $2.2M |
| 5 | Kid Distro Holdings LLC | Loan | United States | 0.89% | $2M |
| 6 | FSS BUYER LLC | Loan | United States | 0.81% | $1.9M |
| 7 | SAFETY PRODUCTS HOLDINGS LLC | Loan | United States | 0.76% | $1.7M |
| 8 | CLOUD SOFTWARE GRP INC | Debt | United States | 0.75% | $1.7M |
| 9 | BITLY INC | Loan | United States | 0.71% | $1.6M |
| 10 | EMPOWER BRANDS FRANCHISING LLC | Loan | United States | 0.70% | $1.6M |
Asset class
| Asset class | % net assets | Value |
|---|---|---|
| Loans | 81.56% | $187M |
| Debt | 3.75% | $8.6M |
| Equity (common) | 14.59% | $33.5M |
| Equity (preferred) | 0.09% | $209K |
Country (top 12)
| Country (top 12) | % net assets | Value |
|---|---|---|
| United States | 97.76% | $225M |
| Canada | 0.88% | $2M |
| Bermuda | 0.64% | $1.5M |
| Ireland | 0.32% | $736K |
| Cayman Islands | 0.22% | $505K |
| XX | 0.18% | $415K |
Region
| Region | % net assets | Value |
|---|---|---|
| United States | 97.76% | $225M |
| Canada | 0.88% | $2M |
| Offshore domiciles | 0.86% | $2M |
| Developed Europe | 0.32% | $736K |
| Other | 0.18% | $415K |
Issuer type
| Issuer type | % net assets | Value |
|---|---|---|
| Corporate | 100.00% | $230M |
Fair-value level
| Fair-value level | % net assets | Value |
|---|---|---|
| Level 3 | 84.02% | $193M |
| Level 2 | 15.74% | $36.2M |
| N/A | 0.23% | $539K |
Level 3 = valued with unobservable inputs (typically private or illiquid).
Long / short
| Long / short | % net assets | Value |
|---|---|---|
| Long | 100.00% | $230M |
All allocation percentages use net assets as the denominator (N-PORT convention). A position's share of invested assets may differ from its share of the whole fund including cash and leverage.
All 570 positions
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| Security | Identifier | Type | Issuer | Country | Balance | Units | Value (USD) | Weight | FV level |
|---|---|---|---|---|---|---|---|---|---|
| Madison Air Solutions Corp | 55658T105 | Equity | CORP | United States | 698,323 | shares | $23.1M | 10.08% | 2 |
| STACKLINE | — | Loan | CORP | United States | 2,816,407 | principal | $2.8M | 1.23% | 3 |
| HEARTLAND VETERINARY PTR LLC | — | Loan | CORP | United States | 2,456,800 | principal | $2.3M | 1.02% | 3 |
| RPX CORPORATION | — | Loan | CORP | United States | 2,214,239 | principal | $2.2M | 0.95% | 3 |
| Kid Distro Holdings LLC | — | Loan | CORP | United States | 2,038,519 | principal | $2M | 0.89% | 3 |
| FSS BUYER LLC | — | Loan | CORP | United States | 1,868,296 | principal | $1.9M | 0.81% | 3 |
| SAFETY PRODUCTS HOLDINGS LLC | — | Loan | CORP | United States | 1,734,875 | principal | $1.7M | 0.76% | 3 |
| CLOUD SOFTWARE GRP INC | 18912UAG7 | Debt | CORP | United States | 2,000,000 | principal | $1.7M | 0.75% | 2 |
| BITLY INC | — | Loan | CORP | United States | 1,655,756 | principal | $1.6M | 0.71% | 3 |
| EMPOWER BRANDS FRANCHISING LLC | — | Loan | CORP | United States | 1,630,125 | principal | $1.6M | 0.70% | 3 |
| U.S. Legal Support, Inc. | — | Loan | CORP | United States | 1,610,057 | principal | $1.6M | 0.70% | 3 |
| W50 Holdings LLC | — | Loan | CORP | United States | 1,598,275 | principal | $1.6M | 0.70% | 3 |
| CW MERGER SUB LLC | — | Loan | CORP | United States | 1,581,714 | principal | $1.6M | 0.69% | 3 |
| PROJECT HOMER | — | Loan | CORP | United States | 1,614,477 | principal | $1.6M | 0.68% | 3 |
| VITALSOURCE | — | Loan | CORP | United States | 1,538,484 | principal | $1.5M | 0.67% | 3 |
| Turnberry Solutions Inc | — | Loan | CORP | United States | 1,551,604 | principal | $1.5M | 0.66% | 3 |
| Bausch Health Companies Inc | XAC6903HAB06 | Loan | CORP | Canada | 1,561,955 | principal | $1.5M | 0.66% | 2 |
| COGNITO FORMS | — | Loan | CORP | United States | 1,500,986 | principal | $1.5M | 0.65% | 3 |
| Trident Maritime Systems Inc | — | Loan | CORP | United States | 1,735,074 | principal | $1.5M | 0.65% | 3 |
| LEADSONLINE | — | Loan | CORP | United States | 1,433,134 | principal | $1.4M | 0.62% | 3 |
| Dwyer Instruments Inc | 26745LAC2 | Loan | CORP | United States | 1,389,526 | principal | $1.4M | 0.60% | 3 |
| RKD GROUP LLC | — | Loan | CORP | United States | 1,394,754 | principal | $1.4M | 0.60% | 3 |
| Sara Lee Frozen Bakery, LLC | 48268JAC8 | Loan | CORP | United States | 1,422,125 | principal | $1.4M | 0.60% | 3 |
| PEGASUS TRANSTECH HLDG | US70558CAD48 | Loan | CORP | United States | 1,390,769 | principal | $1.4M | 0.60% | 3 |
| TENCARVA MACHINERY COMPANY | — | Loan | CORP | United States | 1,381,093 | principal | $1.4M | 0.60% | 3 |
| OSP Lakeside Intermediate Holdings 2 LLC | — | Loan | CORP | United States | 1,463,941 | principal | $1.4M | 0.60% | 3 |
| BRIGHTSIGN | US10947UAC27 | Loan | CORP | United States | 1,386,329 | principal | $1.4M | 0.59% | 3 |
| CADENCE INC | — | Loan | CORP | United States | 1,357,024 | principal | $1.4M | 0.59% | 3 |
| COMPASS PRECISION | — | Equity | CORP | United States | 158,995 | shares | $1.4M | 0.59% | 3 |
| COMPASS PRECISION | — | Loan | CORP | United States | 1,349,137 | principal | $1.3M | 0.59% | 3 |
| POLICY SERVICES COMPANY LLC | — | Loan | CORP | United States | 1,475,760 | principal | $1.3M | 0.58% | 3 |
| SISU AcquisitionCo Inc | — | Loan | CORP | United States | 1,325,738 | principal | $1.3M | 0.57% | 3 |
| STAGE 3 HOLDCO LLC | — | Loan | CORP | United States | 1,323,529 | principal | $1.3M | 0.57% | 3 |
| Recovery Point Systems Inc | — | Loan | CORP | United States | 1,278,514 | principal | $1.3M | 0.56% | 3 |
| CALDWELL + GREGORY LLC | — | Loan | CORP | United States | 1,274,344 | principal | $1.3M | 0.55% | 3 |
| ASC COMMUNICATIONS LLC | — | Loan | CORP | United States | 1,267,971 | principal | $1.3M | 0.55% | 3 |
| SCP CDH BUYER INC | — | Loan | CORP | United States | 1,186,043 | principal | $1.2M | 0.51% | 3 |
| FOREST BUYER, LLC | — | Loan | CORP | United States | 1,202,495 | principal | $1.1M | 0.49% | 3 |
| WOODLAND FOODS INC | — | Loan | CORP | United States | 1,121,072 | principal | $1.1M | 0.48% | 3 |
| SMARTLING INC | — | Loan | CORP | United States | 1,113,176 | principal | $1.1M | 0.48% | 3 |
| PPW AERO BUYER, INC | — | Loan | CORP | United States | 1,093,093 | principal | $1.1M | 0.47% | 3 |
| VESTA FINANCE MERGER SUB LLC | — | Loan | CORP | United States | 1,085,428 | principal | $1.1M | 0.47% | 3 |
| EFC INTERNATIONAL | — | Loan | CORP | United States | 1,046,132 | principal | $1M | 0.45% | 3 |
| Gmes LLC | — | Loan | CORP | United States | 1,037,021 | principal | $1M | 0.45% | 3 |
| Counsel Press Holdings Inc. | — | Loan | CORP | United States | 1,033,950 | principal | $1M | 0.45% | 3 |
| FRAGILEPAK | — | Loan | CORP | United States | 1,024,219 | principal | $1M | 0.45% | 3 |
| LAUNCHPAD HOME GROUP | — | Loan | CORP | United States | 1,033,354 | principal | $1M | 0.44% | 3 |
| NAW BUYER, LLC | — | Loan | CORP | United States | 1,016,705 | principal | $1M | 0.44% | 3 |
| TEAM AIR DISTRIBUTING, LLC | — | Loan | CORP | United States | 1,117,916 | principal | $1M | 0.44% | 3 |
| AZALEA BUYER, LLC | — | Loan | CORP | United States | 1,011,657 | principal | $1M | 0.44% | 3 |
| NORTHSTAR RECYCLING | — | Loan | CORP | United States | 998,987 | principal | $999K | 0.43% | 3 |
| CGI PARENT, LLC | — | Loan | CORP | United States | 991,898 | principal | $987K | 0.43% | 3 |
| SHELF BIDCO LTD | — | Loan | CORP | Bermuda | 985,000 | principal | $981K | 0.43% | 3 |
| ELECTRIC EQUIPMENT AND ENG CO | — | Equity | CORP | United States | 515,625 | shares | $980K | 0.43% | 3 |
| SPATCO ENERGY SOLUTIONS, LLC | — | Loan | CORP | United States | 999,525 | principal | $971K | 0.42% | 3 |
| G-3 Chickadee Purchaser, LLC | — | Loan | CORP | United States | 979,663 | principal | $962K | 0.42% | 3 |
| SMARTSHIFT TECHNOLOGIES | — | Loan | CORP | United States | 955,578 | principal | $956K | 0.42% | 3 |
| SBP HOLDING LP | — | Loan | CORP | United States | 955,157 | principal | $955K | 0.42% | 3 |
| ROI SOLUTIONS | — | Loan | CORP | United States | 1,030,332 | principal | $945K | 0.41% | 3 |
| MEDIA RECOVERY INC | — | Loan | CORP | United States | 942,905 | principal | $943K | 0.41% | 3 |
| RENOVATION BRANDS | — | Loan | CORP | United States | 929,612 | principal | $930K | 0.40% | 3 |
| TAPCO BUYER LLC | — | Loan | CORP | United States | 905,045 | principal | $896K | 0.39% | 3 |
| ELECTRIC EQUIPMENT AND ENG CO | — | Loan | CORP | United States | 885,972 | principal | $871K | 0.38% | 3 |
| Tank Holding Corp | 87583FAN8 | Loan | CORP | United States | 922,382 | principal | $870K | 0.38% | 3 |
| GOLDEN CERAMIC DENTAL LAB | — | Loan | CORP | United States | 869,493 | principal | $869K | 0.38% | 3 |
| UHY ADVISORS INC | — | Loan | CORP | United States | 867,139 | principal | $867K | 0.38% | 3 |
| OSP HAMILTON PURCHASER, LLC | — | Loan | CORP | United States | 873,964 | principal | $865K | 0.38% | 3 |
| INTEGRATED PRECISION STM LLC | — | Loan | CORP | United States | 870,712 | principal | $862K | 0.38% | 3 |
| UHY ADVISORS INC | — | Loan | CORP | United States | 856,826 | principal | $857K | 0.37% | 3 |
| BOXER PARENT COMPANY INC | 05988HAN7 | Loan | CORP | United States | 1,000,000 | principal | $853K | 0.37% | 2 |
| PAS CHASSIS HOLDCO LLC | — | Loan | CORP | United States | 865,801 | principal | $850K | 0.37% | 3 |
| APPLICATION BOOT CAMP LLC | — | Loan | CORP | United States | 844,149 | principal | $846K | 0.37% | 3 |
| VISTA ACQUISITION LLC | — | Loan | CORP | United States | 818,286 | principal | $810K | 0.35% | 3 |
| CLOUDONE DIGITAL CORP | — | Loan | CORP | United States | 815,415 | principal | $808K | 0.35% | 3 |
| ENTACT ENVRNMNTL SRVCES INC | — | Loan | CORP | United States | 785,742 | principal | $786K | 0.34% | 3 |
| AUTOMATED FINANCIAL SYSTEMS | — | Loan | CORP | United States | 782,386 | principal | $775K | 0.34% | 3 |
| POLYTEX ENVIRONMENTAL INKS | — | Debt | CORP | United States | 2,436,434 | principal | $775K | 0.34% | 3 |
| IMS Services Enterprises, LLC | — | Loan | CORP | United States | 781,458 | principal | $774K | 0.34% | 3 |
| SURFACE FINISHING TECHNOLOGIES | — | Loan | CORP | United States | 780,316 | principal | $773K | 0.34% | 3 |
| MUSIC REPORTS INC | — | Loan | CORP | United States | 783,584 | principal | $771K | 0.34% | 3 |
| BECKLAR LLC | — | Loan | CORP | United States | 775,611 | principal | $769K | 0.33% | 3 |
| LONDON BUYER LLC | — | Loan | CORP | United States | 765,839 | principal | $758K | 0.33% | 3 |
| EMPOWER BRANDS FRANCHISING LLC | — | Loan | CORP | United States | 746,403 | principal | $741K | 0.32% | 3 |
| DIVERSIFIED PACKAGING | — | Loan | CORP | United States | 745,149 | principal | $733K | 0.32% | 3 |
| FOREST BUYER, LLC | — | Loan | CORP | United States | 775,316 | principal | $724K | 0.32% | 3 |
| MOBILE PRO SYSTEMS | — | Equity | CORP | United States | 4,118 | shares | $722K | 0.31% | 3 |
| STAPLES INC | 855030AQ5 | Debt | CORP | United States | 750,000 | principal | $715K | 0.31% | 2 |
| PRO VISION | — | Loan | CORP | United States | 709,021 | principal | $706K | 0.31% | 3 |
| HEMASOURCE INC | — | Loan | CORP | United States | 692,120 | principal | $692K | 0.30% | 3 |
| WWEC HOLDINGS II CORP | — | Loan | CORP | United States | 693,478 | principal | $691K | 0.30% | 3 |
| BROWN MACHINE GROUP HOLDINGS | — | Loan | CORP | United States | 750,912 | principal | $681K | 0.30% | 3 |
| THE CAPROCK GROUP | — | Loan | CORP | United States | 678,399 | principal | $674K | 0.29% | 3 |
| PPW AERO BUYER INC | — | Loan | CORP | United States | 672,139 | principal | $669K | 0.29% | 3 |
| KAMC HOLDINGS INC | — | Loan | CORP | United States | 686,199 | principal | $660K | 0.29% | 3 |
| HS ADVISORY BUYER LLC | — | Loan | CORP | United States | 664,331 | principal | $658K | 0.29% | 3 |
| ICE HOUSE AMERICA | — | Loan | CORP | United States | 675,676 | principal | $655K | 0.28% | 3 |
| STAGE 3 HOLDCO LLC | — | Loan | CORP | United States | 661,765 | principal | $653K | 0.28% | 3 |
| SISU ACQUISITIONCO INC | — | Loan | CORP | United States | 653,475 | principal | $647K | 0.28% | 3 |
| DURARE BIDCO LLC | — | Loan | CORP | United States | 655,071 | principal | $647K | 0.28% | 3 |
| CGI PARENT, LLC | — | Loan | CORP | United States | 644,812 | principal | $642K | 0.28% | 3 |
| POLARA | — | Loan | CORP | United States | 636,047 | principal | $636K | 0.28% | 3 |
| PROFITOPTICS | — | Loan | CORP | United States | 638,823 | principal | $635K | 0.28% | 3 |
| HYPERION SOLUTIONS, LLC | — | Equity | CORP | United States | 995,335 | shares | $635K | 0.28% | 3 |
| PROFITOPTICS | — | Loan | CORP | United States | 634,355 | principal | $631K | 0.27% | 3 |
| PB HOLDINGS LLC | US74274BAF67 | Loan | CORP | United States | 626,592 | principal | $627K | 0.27% | 3 |
| Comply365, LLC | — | Loan | CORP | United States | 619,726 | principal | $618K | 0.27% | 3 |
| AL GCX HOLDINGS LLC | 00162DAE5 | Loan | CORP | United States | 615,741 | principal | $616K | 0.27% | 2 |
| Accurus Aerospace Corporation | — | Loan | CORP | United States | 615,724 | principal | $614K | 0.27% | 3 |
| MOBILE PRO SYSTEMS | — | Loan | CORP | United States | 608,463 | principal | $608K | 0.26% | 3 |
| WILSONART LLC | 97246JAA6 | Debt | CORP | United States | 750,000 | principal | $608K | 0.26% | 2 |
| MISSION MICROWAVE | — | Loan | CORP | United States | 600,526 | principal | $601K | 0.26% | 3 |
| AMERICO CHEMICAL PRODUCTS | — | Loan | CORP | United States | 602,941 | principal | $597K | 0.26% | 3 |
| TAPCO BUYER LLC | — | Loan | CORP | United States | 600,221 | principal | $594K | 0.26% | 3 |
| Cornerstone OnDemand Inc | 86803YAB9 | Loan | CORP | United States | 925,148 | principal | $585K | 0.25% | 2 |
| RECON BUYER LLC | — | Loan | CORP | United States | 590,488 | principal | $585K | 0.25% | 3 |
| PARKVIEW DENTAL PARTNERS | — | Loan | CORP | United States | 583,333 | principal | $582K | 0.25% | 3 |
| HSID ACQUISITION LLC | — | Loan | CORP | United States | 581,613 | principal | $579K | 0.25% | 3 |
| OneSky Flight, LLC | 68279FAB3 | Loan | CORP | United States | 576,923 | principal | $578K | 0.25% | 2 |
| DISCOVERY BUYER LP | — | Loan | CORP | United States | 579,848 | principal | $576K | 0.25% | 3 |
| TERRYBEAR | — | Loan | CORP | United States | 1,034,086 | principal | $574K | 0.25% | 3 |
| MAIN LINE COMMERCIAL POOLS | — | Loan | CORP | United States | 579,123 | principal | $572K | 0.25% | 3 |
| NF HOLDCO, LLC | — | Loan | CORP | United States | 620,325 | principal | $571K | 0.25% | 3 |
| ARGUS LOGISTICS LLC | — | Loan | CORP | United States | 567,655 | principal | $568K | 0.25% | 3 |
| THG ACQUISITION LLC | — | Loan | CORP | United States | 565,006 | principal | $562K | 0.24% | 3 |
| SRS ACQUIOM HOLDINGS LLC | — | Loan | CORP | United States | 563,206 | principal | $558K | 0.24% | 3 |
| HYPERION SOLUTIONS LLC | — | Loan | CORP | United States | 555,635 | principal | $556K | 0.24% | 3 |
| GMF Parent Inc. | — | Loan | CORP | United States | 557,179 | principal | $553K | 0.24% | 3 |
| DIVERSIFIED PACKAGING | — | Equity | CORP | United States | 2,769 | shares | $550K | 0.24% | 3 |
| MUSIC REPORTS INC | — | Loan | CORP | United States | 548,682 | principal | $540K | 0.23% | 3 |
| LOCKMASTERS SECURITY INTER INC | — | Loan | CORP | United States | 537,572 | principal | $536K | 0.23% | 3 |
| SVI INTERNATIONAL, INC. | — | Equity | CORP | United States | 311,881 | shares | $533K | 0.23% | 3 |
| THE CAPROCK GROUP | — | Loan | CORP | United States | 535,353 | principal | $532K | 0.23% | 3 |
| NATIONWIDE LEGAL LLC | — | Loan | CORP | United States | 534,351 | principal | $529K | 0.23% | 3 |
| BCPE EMPIRE HOLDINGS INC | 05550HAT2 | Loan | CORP | United States | 536,084 | principal | $529K | 0.23% | 2 |
| AMERICAN ROLLER COMPANY LLC | — | Loan | CORP | United States | 535,452 | principal | $529K | 0.23% | 3 |
| GOLDEN CERAMIC DENTAL LAB | — | Equity | CORP | United States | 419,595 | shares | $529K | 0.23% | 3 |
| CASCADE RESIDENTIAL SERVICES | — | Loan | CORP | United States | 570,875 | principal | $526K | 0.23% | 3 |
| SCALED AGILE INC | — | Loan | CORP | United States | 1,206,951 | principal | $524K | 0.23% | 3 |
| 0EST NR ACQUISITIONCO, LLC | — | Loan | CORP | United States | 523,647 | principal | $524K | 0.23% | 3 |
| MC GROUP VENTURES CORP | US55284BAB27 | Loan | CORP | United States | 556,598 | principal | $521K | 0.23% | 3 |
| NAW BUYER, LLC | — | Loan | CORP | United States | 521,829 | principal | $521K | 0.23% | 3 |
| 1261229 BC LTD | 68288AAA5 | Debt | CORP | Canada | 500,000 | principal | $506K | 0.22% | 2 |
| C&W SENIOR FINANCE LTD | 12665MAA0 | Debt | CORP | Cayman Islands | 500,000 | principal | $505K | 0.22% | 2 |
| CONCEPT MACHINE | — | Loan | CORP | United States | 571,829 | principal | $503K | 0.22% | 3 |
| TAPCO BUYER LLC | — | Loan | CORP | United States | 506,691 | principal | $502K | 0.22% | 3 |
| Versant Media Group Inc | 92528PAB0 | Loan | CORP | United States | 500,000 | principal | $501K | 0.22% | 2 |
| PROCESS INSIGHTS | US74276GAC06 | Loan | CORP | United States | 591,270 | principal | $498K | 0.22% | 3 |
| AZALEA BUYER, LLC | — | Loan | CORP | United States | 498,017 | principal | $498K | 0.22% | 3 |
| MAIN LINE COMMERCIAL POOLS | — | Loan | CORP | United States | 501,906 | principal | $496K | 0.22% | 3 |
| CLYDESDALE ACQUISITION | 18972EAB1 | Debt | CORP | United States | 500,000 | principal | $493K | 0.21% | 2 |
| FORGE BORROWER LLC | — | Loan | CORP | United States | 490,060 | principal | $486K | 0.21% | 3 |
| TheKey LLC | — | Loan | CORP | United States | 583,160 | principal | $486K | 0.21% | 3 |
| NCL CORPORATION LTD | 62886HBZ3 | Debt | CORP | Bermuda | 500,000 | principal | $486K | 0.21% | 2 |
| SBP HOLDING LP | — | Loan | CORP | United States | 482,809 | principal | $483K | 0.21% | 3 |
| CASCADE RESIDENTIAL SERVICES | — | Loan | CORP | United States | 523,346 | principal | $482K | 0.21% | 3 |
| PERRIGO FINANCE UNLIMITE | 71429MAD7 | Debt | CORP | Ireland | 504,000 | principal | $481K | 0.21% | 2 |
| SABRE GLBL INC | 78573NAM4 | Debt | CORP | United States | 500,000 | principal | $480K | 0.21% | 2 |
| FIVE STAR INTRMDT HOLDING LLC | — | Loan | CORP | United States | 476,190 | principal | $476K | 0.21% | 3 |
| POLICY SERVICES COMPANY LLC | — | Loan | CORP | United States | 525,999 | principal | $473K | 0.21% | 3 |
| ARGUS LOGISTICS LLC | — | Loan | CORP | United States | 471,863 | principal | $472K | 0.21% | 3 |
| RoadOne IntermodaLogistics | — | Loan | CORP | United States | 497,166 | principal | $472K | 0.21% | 3 |
| SAFETY PRODUCTS HOLDINGS LLC | — | Loan | CORP | United States | 468,630 | principal | $469K | 0.20% | 3 |
| U.S. LEGAL SUPPORT, INC. | — | Loan | CORP | United States | 467,915 | principal | $465K | 0.20% | 3 |
| RECON BUYER LLC | — | Loan | CORP | United States | 469,706 | principal | $465K | 0.20% | 3 |
| HTI TECHNOLOGY + INDUSTRIES | — | Loan | CORP | United States | 456,471 | principal | $452K | 0.20% | 3 |
| SCP MEDICAL PRODUCTS LLC | — | Loan | CORP | United States | 450,524 | principal | $447K | 0.19% | 3 |
| BKF ENGINEERS | — | Loan | CORP | United States | 448,093 | principal | $443K | 0.19% | 3 |
| SCREENVISION LLC | — | Loan | CORP | United States | 441,486 | principal | $435K | 0.19% | 3 |
| BISHOP STREET UNDERWRITERS | — | Loan | CORP | United States | 433,533 | principal | $430K | 0.19% | 3 |
| SCREENVISION LLC | — | Loan | CORP | United States | 442,742 | principal | $429K | 0.19% | 3 |
| RECON BUYER LLC | — | Loan | CORP | United States | 428,372 | principal | $424K | 0.18% | 3 |
| Omega Holdings | 67115EAC4 | Loan | CORP | United States | 423,067 | principal | $423K | 0.18% | 3 |
| MOMENTUM TEXTILES LLC | 60878JAE1 | Loan | CORP | United States | 423,865 | principal | $421K | 0.18% | 3 |
| MICRO HOLDINGS LLC | 48368PAD1 | Loan | CORP | United States | 421,610 | principal | $418K | 0.18% | 3 |
| BBB INDUSTRIES LLC | US12125BAE02 | Loan | CORP | United States | 454,545 | principal | $416K | 0.18% | 3 |
| COUNSEL PRESS INC | — | Loan | CORP | United States | 413,580 | principal | $410K | 0.18% | 3 |
| WEST NR ACQUISITIONCO, LLC | — | Loan | CORP | United States | 409,856 | principal | $410K | 0.18% | 3 |
| OWL ACQUISITION LLC | — | Loan | CORP | United States | 456,826 | principal | $410K | 0.18% | 3 |
| DANE STREET LLC | — | Loan | CORP | United States | 410,643 | principal | $407K | 0.18% | 3 |
| AUTOMATED FINANCIAL SYSTEMS | — | Loan | CORP | United States | 408,699 | principal | $405K | 0.18% | 3 |
| MICRO HOLDINGS LLC | 48368PAB5 | Loan | CORP | United States | 406,780 | principal | $404K | 0.18% | 3 |
| ALDINGER COMPANY | — | Loan | CORP | United States | 399,733 | principal | $397K | 0.17% | 3 |
| ILLUMIFIN | — | Loan | CORP | United States | 418,431 | principal | $396K | 0.17% | 3 |
| DAWGS INTERMEDIATE HOLDING CO. | — | Loan | CORP | United States | 394,524 | principal | $393K | 0.17% | 3 |
| POLARA | — | Equity | CORP | United States | 1,471 | shares | $385K | 0.17% | 3 |
| SWOOP | — | Loan | CORP | United States | 378,788 | principal | $379K | 0.16% | 3 |
| SURFACE FINISHING TECHNOLOGIES | — | Loan | CORP | United States | 380,642 | principal | $377K | 0.16% | 3 |
| U.S. Legal Support, Inc. | — | Loan | CORP | United States | 377,335 | principal | $375K | 0.16% | 3 |
| HEARTLAND VETER PARTNERS LLC | — | Loan | CORP | United States | 390,195 | principal | $372K | 0.16% | 3 |
| AMERICO CHEMICAL PRODUCTS | — | Loan | CORP | United States | 375,452 | principal | $372K | 0.16% | 3 |
| AMERICAN ROLLER COMPANY LLC | — | Loan | CORP | United States | 374,790 | principal | $370K | 0.16% | 3 |
| APPLICATION BOOT CAMP LLC | — | Loan | CORP | United States | 367,021 | principal | $367K | 0.16% | 3 |
| SONICWALL US HOLDINGS INC | 83547MAH0 | Loan | CORP | United States | 957,453 | principal | $367K | 0.16% | N/A |
| Express Wash Acquisition Company, LLC | — | Loan | CORP | United States | 389,998 | principal | $365K | 0.16% | 3 |
| BISHOP STREET UNDERWRITERS | — | Loan | CORP | United States | 365,546 | principal | $362K | 0.16% | 3 |
| CASCADE RESIDENTIAL SERVICES | — | Loan | CORP | United States | 391,245 | principal | $360K | 0.16% | 3 |
| NATIONWIDE LEGAL LLC | — | Loan | CORP | United States | 363,868 | principal | $360K | 0.16% | 3 |
| CADENCE INC | — | Loan | CORP | United States | 358,809 | principal | $359K | 0.16% | 3 |
| RANDYS HOLDINGS INC | — | Loan | CORP | United States | 357,132 | principal | $354K | 0.15% | 3 |
| PANOS HOLDINGS INC | — | Equity | CORP | United States | 380,545 | shares | $354K | 0.15% | 3 |
| EFI PRODUCTIVITY SOFTWARE | — | Loan | CORP | United States | 351,855 | principal | $347K | 0.15% | 3 |
| SCP CDH BUYER INC | — | Loan | CORP | United States | 348,836 | principal | $346K | 0.15% | 3 |
| SMARTSHIFT TECHNOLOGIES | — | Loan | CORP | United States | 344,778 | principal | $345K | 0.15% | 3 |
| HSID ACQUISITION LLC | — | Loan | CORP | United States | 346,085 | principal | $344K | 0.15% | 3 |
| UNOSQUARE LLC | — | Loan | CORP | United States | 358,891 | principal | $341K | 0.15% | 3 |
| MC GROUP VENTURES CORPORATION | US55284BAF31 | Loan | CORP | United States | 364,973 | principal | $340K | 0.15% | 3 |
| FORGE BORROWER LLC | — | Loan | CORP | United States | 343,042 | principal | $340K | 0.15% | 3 |
| SMARTLING INC | — | Loan | CORP | United States | 343,374 | principal | $340K | 0.15% | 3 |
| CEC ENTERTAINMENT INC | — | Loan | CORP | United States | 343,478 | principal | $339K | 0.15% | 3 |
| LAUNCHPAD HOME GROUP | — | Loan | CORP | United States | 343,275 | principal | $338K | 0.15% | 3 |
| ROCK LABOR,LLC | — | Loan | CORP | United States | 337,655 | principal | $338K | 0.15% | 3 |
| Heavy Construction System SpecialistsLLC | — | Loan | CORP | United States | 336,681 | principal | $337K | 0.15% | 3 |
| EFI PRODUCTIVITY SOFTWARE | — | Loan | CORP | United States | 340,730 | principal | $336K | 0.15% | 3 |
| MERCHANT INDUSTRY LLC | — | Loan | CORP | United States | 337,768 | principal | $335K | 0.15% | 3 |
| DISCOVERY BUYER LP | — | Loan | CORP | United States | 334,304 | principal | $332K | 0.14% | 3 |
| DIG INTL FIN/DIFL US LLC | 25381MAA5 | Debt | CORP | XX | 322,000 | principal | $332K | 0.14% | 2 |
| MC GROUP VENTURES CORP | US55284BAC00 | Loan | CORP | United States | 349,056 | principal | $327K | 0.14% | 3 |
| WEST NR ACQUISITIONCO, LLC | — | Loan | CORP | United States | 322,060 | principal | $322K | 0.14% | 3 |
| TENCARVA MACHINERY COMPANY | — | Loan | CORP | United States | 321,435 | principal | $319K | 0.14% | 3 |
| BLI BUYER INC | — | Loan | CORP | United States | 319,770 | principal | $317K | 0.14% | 3 |
| ABC Legal Services Inc | — | Loan | CORP | United States | 315,939 | principal | $314K | 0.14% | 3 |
| CMG MEDIA CORPORATION | 88146LAA1 | Debt | CORP | United States | 428,000 | principal | $313K | 0.14% | 2 |
| BKF ENGINEERS | — | Loan | CORP | United States | 315,871 | principal | $312K | 0.14% | 3 |
| NCP MSI BUYER INC | — | Loan | CORP | United States | 322,283 | principal | $310K | 0.13% | 3 |
| BKF ENGINEERS | — | Loan | CORP | United States | 308,687 | principal | $305K | 0.13% | 3 |
| ALDINGER COMPANY | — | Loan | CORP | United States | 306,817 | principal | $304K | 0.13% | 3 |
| BROADWAY BUYER LLC | — | Loan | CORP | United States | 301,549 | principal | $299K | 0.13% | 3 |
| ONEMAIN FINANCE CORP | 682691AN0 | Debt | CORP | United States | 301,000 | principal | $298K | 0.13% | 2 |
| WC ORS BUYER INC | — | Loan | CORP | United States | 299,718 | principal | $297K | 0.13% | 3 |
| RAPID BUYER LLC | — | Loan | CORP | United States | 298,712 | principal | $297K | 0.13% | 3 |
| ZAYO GROUP HOLDINGS INC | 98919VAC9 | Debt | CORP | United States | 295,075 | principal | $295K | 0.13% | 2 |
| COHERUS BIOSCIENCES INC | — | Loan | CORP | United States | 299,324 | principal | $294K | 0.13% | 3 |
| SPATCO ENERGY SOLUTIONS, LLC | — | Loan | CORP | United States | 300,827 | principal | $292K | 0.13% | 3 |
| PROFITOPTICS | — | Loan | CORP | United States | 292,790 | principal | $291K | 0.13% | 3 |
| BROADWAY BUYER LLC | — | Loan | CORP | United States | 291,234 | principal | $289K | 0.13% | 3 |
| Real Chemistry Intermediate III,Inc | 75584UAB5 | Loan | CORP | United States | 291,559 | principal | $289K | 0.13% | 3 |
| PPW AERO BUYER INC | — | Loan | CORP | United States | 286,801 | principal | $286K | 0.12% | 3 |
| MEDIA RECOVERY INC | — | Loan | CORP | United States | 284,076 | principal | $284K | 0.12% | 3 |
| BRIGHTSIGN LLC | 10947UAD0 | Loan | CORP | United States | 284,660 | principal | $280K | 0.12% | 3 |
| PEGASUS TRANSTECH CORPORATION | — | Loan | CORP | United States | 281,063 | principal | $277K | 0.12% | 3 |
| IMS Services Enterprises, LLC | — | Loan | CORP | United States | 279,092 | principal | $276K | 0.12% | 3 |
| OSP HAMILTON PURCHASER LLC | — | Loan | CORP | United States | 276,035 | principal | $273K | 0.12% | 3 |
| HYDRATECH HOLDINGS, INC. | — | Loan | CORP | United States | 272,801 | principal | $271K | 0.12% | 3 |
| VESTA FINANCE MERGER SUB LLC | — | Loan | CORP | United States | 271,357 | principal | $269K | 0.12% | 3 |
| SEKO Global Logistics Network, LLC | — | Loan | CORP | United States | 435,551 | principal | $268K | 0.12% | 3 |
| EFC INTERNATIONAL | — | Equity | CORP | United States | 205 | shares | $264K | 0.12% | 3 |
| SMARTLING INC | — | Loan | CORP | United States | 265,660 | principal | $263K | 0.11% | 3 |
| STAGE 3 HOLDCO LLC | — | Loan | CORP | United States | 264,706 | principal | $261K | 0.11% | 3 |
| CALDWELL + GREGORY LLC | — | Loan | CORP | United States | 257,262 | principal | $257K | 0.11% | 3 |
| LCPR SR SECURED FIN DAC | 50201DAA1 | Debt | CORP | Ireland | 447,000 | principal | $255K | 0.11% | 2 |
Equities show share counts; bonds and loans show principal amount. Coupon, maturity and ratings are shown where the filing discloses them. Source: SEC N-PORT via market-data vendor re-serve, position-level.
Holdings reports on file
| Report date | Filed | Positions | Σ weight | Net assets (calc.) | Coverage |
|---|---|---|---|---|---|
| Jun 30, 2026 | Aug 28, 2026 | 570 | 100.0% | $230M | full |
| Mar 31, 2026 | May 29, 2026 | 554 | 100.0% | $221M | full |
| Dec 31, 2025 | Mar 2, 2026 | 537 | 100.0% | $217M | full |
Net assets here are calculated from position values ÷ reported weights (median across positions), not a reported figure.
CEF Explorer research page for Barings Participation Investors. Figures carry their own dates and sources; a discount to NAV does not guarantee convergence or any return. This is not investment advice.