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.
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 |
|---|---|---|---|---|---|---|---|---|---|
| PROJECT POTTER PARENT L.P | — | Equity | CORP | United States | 6,629 | shares | $32.3K | 0.01% | 3 |
| IMS LEGAL STRATEGIES | — | Equity | CORP | United States | 32 | shares | $32.1K | 0.01% | 3 |
| PROFITOPTICS | — | Loan | CORP | United States | 32,258 | principal | $31.2K | 0.01% | 3 |
| VITALSOURCE | — | Loan | CORP | United States | 31,398 | principal | $31.2K | 0.01% | 3 |
| PRO VISION | — | Equity | CORP | United States | 218 | shares | $30.6K | 0.01% | 3 |
| MISSION MICROWAVE | — | Equity | CORP | United States | 276 | shares | $30.2K | 0.01% | 3 |
| RAPIDAIR COMPRESSED AIR PROD | — | Equity | CORP | United States | 30 | shares | $29.8K | 0.01% | 3 |
| TRAFFIC AND PARKING CONTROL | — | Equity | CORP | United States | 23 | shares | $29.6K | 0.01% | 3 |
| FSS Buyer LLC | — | Loan | CORP | United States | 28,774 | principal | $28.8K | 0.01% | 3 |
| PARKVIEW DENTAL PARTNERS | — | Loan | CORP | United States | 28,500 | principal | $28.4K | 0.01% | 3 |
| ZIYAD INC | — | Equity | CORP | United States | 34 | shares | $27.9K | 0.01% | 3 |
| DAWGS DOOR AND WINDOW GUARD | — | Equity | CORP | United States | 20 | shares | $27.1K | 0.01% | 3 |
| ADVANTAGE SOFTWARE | — | Equity | CORP | United States | 1,926 | shares | $26.3K | 0.01% | 3 |
| AMERICO CHEMICAL PRODUCTS | — | Equity | CORP | United States | 22,480 | shares | $26.3K | 0.01% | 3 |
| ONSITE DEALER SERVICES | — | Equity | CORP | United States | 25 | shares | $26K | 0.01% | 3 |
| SCALED AGILE INC | — | Loan | CORP | United States | 59,286 | principal | $25.7K | 0.01% | 3 |
| PPW AERO BUYER, INC | — | Loan | CORP | United States | 25,413 | principal | $25.3K | 0.01% | 3 |
| FIVE STAR HOLDING LLC | — | Equity | CORP | United States | 34 | shares | $25K | 0.01% | 3 |
| COGENCY GLOBAL INC | — | Loan | CORP | United States | 24,926 | principal | $24.8K | 0.01% | 3 |
| DATASERV | — | Equity | CORP | United States | 17,546 | shares | $23.7K | 0.01% | 3 |
| ETHOS RISK SERVICES | — | Loan | CORP | United States | 22,999 | principal | $22.7K | 0.01% | 3 |
| ASC Communications LLC | — | Loan | CORP | United States | 22,664 | principal | $22.5K | 0.01% | 3 |
| Express Wash Acquisition Company, LLC | — | Loan | CORP | United States | 23,180 | principal | $21.7K | 0.01% | 3 |
| METALLIZING SERVICE COMPANY HO | — | Equity | CORP | United States | 20,836 | shares | $20.8K | 0.01% | 3 |
| Tank Holding Corp | 87583FAM0 | Loan | CORP | United States | 21,818 | principal | $20.6K | 0.01% | 3 |
| ASC COMMUNICATIONS, LLC (BECKE | — | Equity | CORP | United States | 535 | shares | $20.2K | 0.01% | 3 |
| SEKO Global Logistics Network, LLC | — | Loan | CORP | United States | 20,047 | principal | $20K | 0.01% | 3 |
| Randys Holdings, Inc. | — | Loan | CORP | United States | 18,648 | principal | $18.5K | 0.01% | 3 |
| HEMASOURCE, INC. | — | Equity | CORP | United States | 11,337 | shares | $17.5K | 0.01% | 3 |
| WOODLAND FOODS INC | — | Equity | CORP | United States | 10 | shares | $17.2K | 0.01% | 3 |
| AMERICAN ROLLER COMPANY LLC | — | Equity | CORP | United States | 15,914 | shares | $16.1K | 0.01% | 3 |
| LEADSONLINE WEATHERBY PARENT | — | Equity | CORP | United States | 7,050 | shares | $15.3K | 0.01% | 3 |
| NEWFORMA | — | Equity | CORP | United States | 81,722 | shares | $14.7K | 0.01% | 3 |
| CCF HLDGS LLC | 12509J109 | Equity | CORP | United States | 12 | shares | $13.7K | 0.01% | 3 |
| FOLLETT SCHOOL SOLUTIONS (FSS | — | Equity | CORP | United States | 1,081 | shares | $13.3K | 0.01% | 3 |
| RPS GROUP HOLDINGS, LLC | — | Equity | CORP | United States | 21,532 | shares | $12.9K | 0.01% | 3 |
| CASH FLOW MANAGEMENT (OSP HAMI | — | Equity | CORP | United States | 12,008 | shares | $12.7K | 0.01% | 3 |
| MERCHANT INDUSTRY LLC | — | Equity | CORP | United States | 12,783 | shares | $12.2K | 0.01% | 3 |
| UNOSQUARE LLC | — | Equity | CORP | United States | 15,278 | shares | $8.4K | 0.00% | 3 |
| ACCURUS AEROSPACE CORPORATION | — | Equity | CORP | United States | 8,752 | shares | $7.6K | 0.00% | 3 |
| RWA HOLDING COMPANY | — | Equity | CORP | United States | 54 | shares | $6.6K | 0.00% | 3 |
| AA&D Midco Inc | — | Loan | CORP | United States | 5,999 | principal | $6K | 0.00% | 3 |
| ETHOS RISK SERVICES | — | Equity | CORP | United States | 5,699 | shares | $5.2K | 0.00% | 3 |
| INNOVIA MEDICAL | — | Equity | CORP | United States | 39 | shares | $4.4K | 0.00% | 3 |
| PROCESS INSIGHTS ACQUISITION | — | Equity | CORP | United States | 3 | shares | $1.9K | 0.00% | 3 |
| ACCURUS AEROSPACE INTL UK | — | Equity | CORP | United States | 611 | shares | $531 | 0.00% | 3 |
| VB SPINE | — | Equity | CORP | United States | 26,485 | shares | $0 | 0.00% | 3 |
| TERRYBEAR | — | Equity | CORP | United States | 84,038 | shares | $0 | 0.00% | 3 |
| TEAM AIR | — | Equity | CORP | United States | 891,204 | shares | $0 | 0.00% | 3 |
| CONCEPT MACHINE CMT OPCO HOLD | — | Equity | CORP | United States | 443 | shares | $0 | 0.00% | 3 |
| POLYTEX HOLDINGS LLC | — | Equity | CORP | United States | 36,976 | shares | $0 | 0.00% | 3 |
| THEROX COMMON STOCK | — | Equity | CORP | United States | 2 | shares | $0 | 0.00% | 3 |
| SANDVINE CORPORATION | — | Equity | CORP | United States | 31,364 | shares | $0 | 0.00% | 3 |
| TOUCHSTONE HEALTH PRTNRSHP | — | Equity | CORP | United States | 292 | shares | $0 | 0.00% | 3 |
| MISSION MICROWAVE | — | Equity | CORP | United States | 31 | shares | $0 | 0.00% | 3 |
| POLYTEX HOLDINGS LLC | — | Equity | CORP | United States | 148,096 | shares | $0 | 0.00% | 3 |
| PMHC II INC | 92559QAH7 | Loan | CORP | United States | 0 | principal | $0 | 0.00% | 2 |
| PEARL HOLDING GROUP | — | Equity | CORP | United States | 9 | shares | $0 | 0.00% | 3 |
| WESTMINSTER FOODS II LLC | — | Equity | CORP | United States | 370,241 | shares | $0 | 0.00% | 3 |
| TEAM AIR (SWIFTY HOLDINGS LLC) | — | Equity | CORP | United States | 170,042 | shares | $0 | 0.00% | 3 |
| DECKS DIRECT LLC | — | Equity | CORP | United States | 2,209 | shares | $0 | 0.00% | 3 |
| DECKS DIRECT, LLC | — | Equity | CORP | United States | 553 | shares | $0 | 0.00% | 3 |
| DECKS DIRECT LLC | — | Equity | CORP | United States | 11 | shares | $0 | 0.00% | 3 |
| PMHC II INC | 92559QAG9 | Loan | CORP | United States | 0 | principal | $0 | 0.00% | 2 |
| SEKO GLOBAL LOGISTICS NETWORK | — | Equity | CORP | United States | 184 | shares | $0 | 0.00% | 3 |
| ELITE SPORTSWEAR HOLDING LLC | — | Equity | CORP | United States | 1,218,266 | shares | $0 | 0.00% | 3 |
| CONCEPT MACHINE | — | Equity | CORP | United States | 1,237 | shares | $0 | 0.00% | 3 |
| SANDVINE CORPORATION | — | Equity | CORP | United States | 688 | shares | $0 | 0.00% | 3 |
| PROCESS INSIGHTS | — | Equity | CORP | United States | 32 | shares | $0 | 0.00% | 3 |
| HQ ACQUISITION HOLDINGS, LLC | — | Equity | CORP | United States | 3,716 | shares | $0 | 0.00% | 3 |
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.