BARING ASSET MANAGEMENT Ltd

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CIK 1606779

13F portfolio (2017-Q3)

$1.7B

Positions

184

Implied 1Y CAGR

modeled · as filed

Long positions in SEC Section 13(f) securities (US-listed stocks, ADRs and ETFs), largest first · Δ vs 2017-Q2. A lagged quarterly snapshot (filed ≤45 days after quarter-end); excludes shorts, options, cash, and shares listed only on non-US exchanges — foreign companies held via a US listing or ADR (e.g. Alibaba, TSMC) ARE included.

Implied return what this book implies · modeled, not advice methodology →

Open in PORT →

As filed = each book applied at its quarter-end (what the reported book did) · As copyable = applied at its statutory 45-day filing deadline (what a 13F follower could have earned).

Computing…

Hypothetical modeled performance constructed with hindsight — not actual results, and not indicative of future results. See the Disclaimer.

Exposures · what this manager owns, by sector & size (2017-Q3)

Holdings

184

Top 5

36.9%

Top 10

51.5%

Effective N

21.4

HHI

0.047

This quarter

22 new · 0 exit →

By sector

Unclassified38.3%

Industrials19.9%

Consumer Discretionary10.9%

Information Technology10.2%

Energy6.7%

Materials4.5%

Financials4.1%

Consumer Staples2.6%

Other2.8%

By market cap

Unknown77.3%

Large ($10–200B)14.1%

Mid ($2–10B)4.6%

Mega (>$200B)3.3%

Small ($300M–2B)0.7%

By region

Other38.5%

North America34.2%

Asia-Pacific27.4%

By industry group GICS — finer than sector

Industry group	Weight	Names
Unclassified	38.29%	59
Commercial Services & Supplies	17.26%	5
Oil, Gas & Consumable Fuels	6.73%	9
Specialty Retail	5.28%	8
Software & IT Services	5.06%	9
Banks	3.65%	7
Diversified Consumer Services	3.23%	2
Semiconductors & Semiconductor Equipment	2.75%	4
Software	2.65%	6
Machinery	2.32%	5
Chemicals	2.24%	14
Food Products	1.51%	6
Hotels, Restaurants & Leisure	1.46%	3
Paper & Forest Products	1.00%	4
Beverages	0.95%	3
Construction Materials	0.93%	2
Health Care Equipment & Supplies	0.91%	6
Pharmaceuticals & Biotechnology	0.70%	7
Distributors	0.57%	3
Utilities	0.39%	4
Metals & Mining	0.31%	3
Aerospace & Defense	0.29%	2
Road & Rail	0.28%	1
Health Care Providers & Services	0.25%	3
Technology Hardware & Equipment	0.23%	3
Household Durables	0.20%	1
Food & Staples Retailing	0.17%	1
Textiles, Apparel & Luxury Goods	0.13%	1
Marine	0.11%	1
Media & Entertainment	0.08%	1
Entertainment	0.07%	1

Top holdings

#	Ticker	Name	Sector	Weight
1	BABA	Alibaba Group Holding Ltd	Industrials	16.59%
2	IWO	ISHARES TR	Unclassified	5.18%
3	IWF	ISHARES TR	Unclassified	5.08%
4	IVV	ISHARES TR	Unclassified	5.02%
5	OEF	ISHARES TR	Unclassified	5.01%
6	JD	JD.Com, Inc.	Consumer Discretionary	4.41%
7	TAL	TAL Education Group	Consumer Discretionary	3.11%
8	TSM	Taiwan Semiconductor Manufacturing Co Ltd	Information Technology	2.48%
9	NBIS	NEBIUS GROUP N.V.	Unclassified	2.39%
10	SU	SUNCOR ENERGY INC	Energy	2.26%

125/184 names classified · sector 61.7% of weight · industry 61.7% · mkt cap 22.7%; unclassified names shown, never dropped.

Sector allocation over time · how the GICS mix & top names shifted quarter by quarter

top 5/sector, rest → “Other” · 13 quarters

Information TechnologyTSM, BIDU, NTES, EPAM, INFY · other

EnergySU, CNQ, HAL, CVX, SLB · other

IndustrialsBABA, HON, AGCO, DE, FET · other

MaterialsPPG, ALB, IFF, AVY, MOS · other

Consumer DiscretionaryJD, TAL, SBUX, VIPS, YUMC · other

Consumer StaplesTSN, FMX, CVS, HAIN, ADM · other

FinancialsITUB, BLK, JPM, MET, BBD · other

Health CareCOO, AMGN, BDX, ZBH, GILD · other

Communication ServicesGOOG, TV, META, CCOI, VZ · other

Real EstateWY, CCI, PSA, LTC, SPG

UtilitiesKMI, EDN, PAM, WEC, PCG · other

UnclassifiedIWF, IWO, OEF, IVV, XLK · other

Sector is classified on each name's CURRENT fundamentals, not point-in-time — apparent sector drift can reflect the market re-rating a holding, not a manager trade. 13F is a lagged quarterly snapshot of long positions in US-listed securities only — foreign companies held via a US listing or ADR ARE included, but shares listed only on non-US exchanges (plus shorts, options and cash) are not. Latest quarter: 61.7% of the book is sector-classified (unclassified names shown, never dropped).

Style box · size × value-growth placement of the reported book (2017-Q3), classified on current fundamentals (not point-in-time) — load it into PORT to overlay your own portfolio

Only 22% of book weight classified — the grid is NOT representative of the whole book.

holdings, colored by sector (98 classified)BARING ASSET MANAGEMENT Ltd centroid (Mid Core)

MaterialsEnergyConsumer DiscretionaryInformation TechnologyIndustrialsConsumer StaplesHealth CareFinancialsCommunication ServicesUtilities

Style box summary for BARING ASSET MANAGEMENT Ltd: centroid Mid Core. Heaviest cells: Large Value 4.2%, Small Core 3.8%, Mid Value 3.5%.

Classified: 21.9% of book weight (98/155 names) · unclassified 78.1%: BABA, , IWO, IWF, IVV, OEF, JD, TAL, TSM, NBIS +47 more. Size: cap 70/20/10 bands; style: value/growth composite on our own metrics — not Morningstar's model.

Contribution holdings-based, any period

No contribution data for this period.

Holdings· 184 positions (2017-Q3) · largest first · Δ vs 2017-Q2

#	Security	Shares	Value	Weight	Δ QoQ
1	BABAALIBABA GROUP HLDG LTD	1,643,530	$284M	16.6%	TRIM −13%
2	IWOISHARES TR	497,176	$89M	5.2%	HOLD
3	IWFISHARES TR	697,807	$87M	5.1%	HOLD
4	IVVISHARES TR	340,751	$86M	5.0%	HOLD
5	OEFISHARES TR	772,382	$86M	5.0%	HOLD
6	JDJD.COM INC	1,974,906	$75M	4.4%	ADD 25%
7	TALTAL EDUCATION GROUP	1,577,595	$53M	3.1%	ADD 411%
8	TSMTAIWAN SEMICONDUCTOR MFG LTD	1,129,578	$42M	2.5%	TRIM −6%
9	NBISNEBIUS GROUP N.V.	1,240,745	$41M	2.4%	TRIM −5%
10	SUSUNCOR ENERGY INC NEW	1,106,335	$39M	2.3%	TRIM −17%
11	NTESNETEASE COM INC	140,074	$37M	2.2%	TRIM −16%
12	NEW ORIENTAL ED & TECHNOLOGY	413,905	$37M	2.1%	ADD 110%
13	EPAMEPAM SYS INC	406,329	$36M	2.1%	ADD 106%
14	ITUBITAU UNIBANCO HLDG S A	2,481,182	$34M	2.0%	TRIM −8%
15	MOBILEYE NV XXXMANDATORY MERGER EFF: 06/03/18	386,470	$24M	1.4%	TRIM −26%
16	MOBILE TELESYSTEMS PJSC	2,245,903	$23M	1.4%	ADD 8%
17	YUMCYUM CHINA HLDGS INC	548,182	$22M	1.3%	ADD 51%
18	EOGEOG RES INC	213,270	$21M	1.2%	ADD 8%
19	BIDUBAIDU INC	82,000	$20M	1.2%	NEW
20	POTASH CORP OF SASKATCHEWAN	1,029,972	$20M	1.2%	TRIM −6%
21	HALHALLIBURTON CO	398,926	$18M	1.1%	HOLD
22	CTRACOTERRA ENERGY INC	657,449	$18M	1.0%	HOLD
23	PBR.APETROLEO BRASILEIRO SA PETRO	1,760,506	$17M	1.0%	ADD 7%
24	TSNTYSON FOODS INC	231,531	$16M	1.0%	ADD 4%
25	ALBALBEMARLE CORP	118,732	$16M	0.9%	TRIM −16%
26	AGRIUM INC	132,525	$14M	0.8%	TRIM −15%
27	AGCOAGCO CORP	185,473	$14M	0.8%	TRIM −2%
28	BBDBANCO BRADESCO S A	1,231,955	$14M	0.8%	HOLD
29	AVYAVERY DENNISON CORP	130,212	$13M	0.7%	TRIM −19%
30	MOMO INC	382,770	$12M	0.7%	NEW
31	WBWEIBO CORP	120,623	$12M	0.7%	NEW
32	SLBSCHLUMBERGER LTD	170,557	$12M	0.7%	HOLD
33	DEDEERE & CO	94,658	$12M	0.7%	ADD 8%
34	CVXCHEVRON CORP NEW	98,077	$12M	0.7%	HOLD
35	FETFORUM ENERGY TECHNOLOGIES	704,126	$11M	0.7%	ADD 49%
36	EXPEAGLE MATLS INC	103,441	$11M	0.6%	HOLD
37	PRAXAIR INC	76,840	$11M	0.6%	HOLD
38	ABEVAMBEV SA	1,474,800	$10M	0.6%	HOLD
39	GDSGDS HLDGS LTD	817,103	$9M	0.5%	TRIM −33%
40	NATIONAL OILWELL VARCO INC	236,410	$8M	0.5%	ADD 106%
41	PBRPETROLEO BRASILEIRO S A	723,733	$7M	0.4%	HOLD
42	RSRELIANCE INC	86,344	$7M	0.4%	HOLD
43	AMERICA MOVIL SAB DE CV	362,641	$6M	0.4%	HOLD
44	JPMJPMORGAN CHASE & CO	64,548	$6M	0.4%	TRIM −3%
45	YPFYPF SOCIEDAD ANONIMA	271,258	$6M	0.4%	HOLD
46	SINA CORP	51,527	$6M	0.3%	NEW
47	BANCOLOMBIA S A	128,800	$6M	0.3%	ADD 37%
48	RANDGOLD RES LTD	57,970	$6M	0.3%	TRIM −14%
49	BDXBECTON DICKINSON & CO	27,857	$5M	0.3%	ADD 12%
50	TJXTJX COS INC NEW	66,191	$5M	0.3%	ADD 132%
51	CXCEMEX SAB DE CV	536,400	$5M	0.3%	ADD 506%
52	UNPUNION PAC CORP	40,612	$5M	0.3%	ADD 6%
53	TELEFONICA BRASIL SA FSPONSORED ADR 1 ADR REPS 2 ORD SHS	293,400	$5M	0.3%	TRIM −24%
54	MAMASTERCARD INCORPORATED	31,742	$4M	0.3%	TRIM −9%
55	FMXFOMENTO ECONOMICO MEXICANO S	45,304	$4M	0.3%	TRIM −55%
56	TRINSEO S A	63,000	$4M	0.2%	TRIM −6%
57	MONSANTO CO NEW	34,415	$4M	0.2%	HOLD
58	ADBEADOBE INC	26,654	$4M	0.2%	HOLD
59	AZUL S A	142,558	$4M	0.2%	NEW
60	VVISA INC	36,692	$4M	0.2%	ADD 62%
61	LLYELI LILLY & CO	43,492	$4M	0.2%	ADD 115%
62	COOCOOPER COMPANIES INC	15,670	$4M	0.2%	TRIM −29%
63	EDNEMPRESA DIST Y COMERCIAL NOR	93,280	$4M	0.2%	HOLD
64	ADMARCHER DANIELS MIDLAND CO	85,104	$4M	0.2%	HOLD
65	PAASPAN AMERN SILVER CORP	203,047	$3M	0.2%	HOLD
66	AOSSMITH A O CORP	58,159	$3M	0.2%	TRIM −8%
67	FBINFORTUNE BRANDS INNOVATIONS I	50,339	$3M	0.2%	TRIM −15%
68	GOOGALPHABET INC	3,486	$3M	0.2%	HOLD
69	METAMETA PLATFORMS INC	19,392	$3M	0.2%	TRIM −15%
70	NKENIKE INC	62,536	$3M	0.2%	ADD 35%
71	BAPCREDICORP LTD	15,555	$3M	0.2%	HOLD
72	HONHONEYWELL INTL INC	22,239	$3M	0.2%	TRIM −5%
73	NWLNEWELL BRANDS INC	72,389	$3M	0.2%	ADD 311%
74	AAPLAPPLE INC	19,258	$3M	0.2%	TRIM −5%
75	ZTSZOETIS INC	46,416	$3M	0.2%	TRIM −10%
76	RAYTHEON CO	15,763	$3M	0.2%	TRIM −6%
77	AGROADECOAGRO S A	269,206	$3M	0.2%	TRIM −60%
78	CVSCVS HEALTH CORP	34,904	$3M	0.2%	TRIM −9%
79	ACWIISHARES TR	40,292	$3M	0.2%	TRIM −9%
80	CLCOLGATE PALMOLIVE CO	37,002	$3M	0.2%	ADD 8%
81	AMZNAMAZON COM INC	2,696	$3M	0.2%	TRIM −18%
82	MMM3M CO	11,275	$2M	0.1%	HOLD
83	INGRINGREDION INC	19,438	$2M	0.1%	ADD 11%
84	FRCBFIRST REP BK SAN FRANCISCO C	22,426	$2M	0.1%	TRIM −3%
85	ACTIVISION BLIZZARD INC	35,747	$2M	0.1%	TRIM −4%
86	BMABANCO MACRO SA	19,101	$2M	0.1%	HOLD
87	BRF SA	155,134	$2M	0.1%	HOLD
88	ACHCACADIA HEALTHCARE COMPANY IN	46,777	$2M	0.1%	TRIM −20%
89	HDHOME DEPOT INC	13,651	$2M	0.1%	TRIM −2%
90	PEPPEPSICO INC	19,870	$2M	0.1%	ADD 28%
91	SYKSTRYKER CORPORATION	15,534	$2M	0.1%	ADD 170%
92	CTASCINTAS CORP	15,034	$2M	0.1%	HOLD
93	IFFINTERNATIONAL FLAVORS&FRAGRA	14,877	$2M	0.1%	ADD 83%
94	SCISERVICE CORP INTL	61,426	$2M	0.1%	TRIM −17%
95	EWJISHARES INC	38,038	$2M	0.1%	ADD 47%
96	MUMICRON TECHNOLOGY INC	50,911	$2M	0.1%	TRIM −5%
97	Bunge Ltd	27,728	$2M	0.1%	TRIM −40%
98	GILDGILEAD SCIENCES INC	23,323	$2M	0.1%	NEW
99	LMTLOCKHEED MARTIN CORP	6,010	$2M	0.1%	HOLD
100	CCLCARNIVAL CORP	28,637	$2M	0.1%	ADD 135%
101	GPCGENUINE PARTS CO	18,101	$2M	0.1%	TRIM −9%
102	PGPROCTER AND GAMBLE CO	19,012	$2M	0.1%	HOLD
103	EZUISHARES INC MSCI EURZONE ETF	39,789	$2M	0.1%	ADD 31%
104	SHWSHERWIN WILLIAMS CO	4,745	$2M	0.1%	ADD 11%
105	NTRSNORTHERN TR CORP	18,300	$2M	0.1%	TRIM −3%
106	COSTCOSTCO WHSL CORP NEW	9,994	$2M	0.1%	HOLD
107	MKCMCCORMICK & CO INC	15,983	$2M	0.1%	HOLD
108	PNCPNC FINL SVCS GROUP INC	12,114	$2M	0.1%	TRIM −5%
109	RSGREPUBLIC SVCS INC	24,625	$2M	0.1%	HOLD
110	INTUINTUIT	11,418	$2M	0.1%	NEW
111	HSYHERSHEY CO	14,836	$2M	0.1%	ADD 343%
112	EAELECTRONIC ARTS INC	13,694	$2M	0.1%	TRIM −3%
113	APDAIR PRODS & CHEMS INC	10,539	$2M	0.1%	TRIM −7%
114	ARMKARAMARK	39,135	$2M	0.1%	NEW
115	GOOGLALPHABET INC	1,630	$2M	0.1%	NEW
116	AVGOBROADCOM LTD	6,500	$2M	0.1%	HOLD
117	WSTWEST PHARMACEUTICAL SVSC INC	16,214	$2M	0.1%	ADD 2%
118	JNJJOHNSON & JOHNSON	12,001	$2M	0.1%	TRIM −19%
119	ELLAUDER ESTEE COS INC	14,369	$2M	0.1%	HOLD
120	WMWASTE MGMT INC DEL	19,519	$2M	0.1%	ADD 2%
121	ITWILLINOIS TOOL WKS INC	10,227	$2M	0.1%	TRIM −3%
122	SBUXSTARBUCKS CORP	27,848	$1M	0.1%	TRIM −44%
123	CHDCHURCH & DWIGHT CO INC	30,798	$1M	0.1%	HOLD
124	BANK OF THE OZARKS	30,366	$1M	0.1%	TRIM −27%
125	LABORATORY CORP AMER HLDGS	9,549	$1M	0.1%	ADD 4%
126	CNKCINEMARK HOLDINGS INC	39,652	$1M	0.1%	ADD 321%
127	SDYSPDR SER TR	15,725	$1M	0.1%	TRIM −10%
128	AIVLWISDOMTREE TR	16,959	$1M	0.1%	TRIM −10%
129	DVYISHARES TR	15,203	$1M	0.1%	TRIM −9%
130	GGBGERDAU SA	407,900	$1M	0.1%	NEW
131	PHPARKER-HANNIFIN CORP	7,993	$1M	0.1%	TRIM −6%
132	SYYSYSCO CORP	25,942	$1M	0.1%	TRIM −8%
133	PCGPG&E CORP	20,478	$1M	0.1%	NEW
134	MOSMOSAIC CO NEW	63,419	$1M	0.1%	NEW
135	TSCOTRACTOR SUPPLY CO	21,095	$1M	0.1%	NEW
136	EMBISHARES TR	11,336	$1M	0.1%	NEW
137	PAMPAMPA ENERGIA S A	20,242	$1M	0.1%	HOLD
138	DISDISNEY WALT CO	12,966	$1M	0.1%	HOLD
139	DGXQUEST DIAGNOSTICS INC	13,456	$1M	0.1%	ADD 6%
140	PRICELINE COM INC	686	$1M	0.1%	TRIM −43%
141	CFCF INDS HLDGS INC	35,569	$1M	0.1%	HOLD
142	EXIISHARES TR	13,742	$1M	0.1%	HOLD
143	APHAMPHENOL CORP	13,235	$1M	0.1%	TRIM −5%
144	EWDISHARES INC	29,626	$1M	0.1%	HOLD
145	CLXCLOROX CO DEL	7,283	$960,000	0.1%	NEW
146	VWOVANGUARD INTL EQUITY INDEX F	21,676	$944,000	0.1%	HOLD
147	EFAISHARES TR	13,512	$920,000	0.1%	TRIM −16%
148	AMGNAMGEN INC	4,428	$825,000	0.0%	TRIM −8%
149	CTSHCOGNIZANT TECHNOLOGY SOLUTIO	10,665	$774,000	0.0%	TRIM −17%
150	IEVISHARES TR	16,070	$753,000	0.0%	ADD 202%
151	HEWJISHARES TR	24,425	$753,000	0.0%	ADD 230%
152	HCAHCA HEALTHCARE INC	9,245	$736,000	0.0%	HOLD
153	MSFTMICROSOFT CORP	9,599	$715,000	0.0%	HOLD
154	SANDERSON FARMS INC	4,378	$707,000	0.0%	TRIM −40%
155	CSCOCISCO SYS INC	19,271	$648,000	0.0%	HOLD
156	EWGISHARES INC MSCI GERMANY ETF	18,962	$615,000	0.0%	HOLD
157	ECLECOLAB INC	4,541	$584,000	0.0%	TRIM −71%
158	PFEPFIZER INC	16,030	$572,000	0.0%	TRIM −59%
159	ISHARES TR	14,040	$545,000	0.0%	NEW
160	IATISHARES TR	11,491	$542,000	0.0%	HOLD
161	QTWOQ2 HLDGS INC	12,448	$518,000	0.0%	TRIM −32%
162	TITNTITAN MACHY INC	32,364	$503,000	0.0%	HOLD
163	GLOBGLOBANT S A	12,377	$496,000	0.0%	NEW
164	XOMEXXON MOBIL CORP	5,951	$488,000	0.0%	HOLD
165	BMRNBIOMARIN PHARMACEUTICAL INC	5,222	$486,000	0.0%	HOLD
166	PowerShares High Yld Eq Div Ac	27,768	$477,000	0.0%	TRIM −10%
167	NEMNEWMONT CORP	12,544	$471,000	0.0%	HOLD
168	KMBKIMBERLY-CLARK CORP	3,919	$462,000	0.0%	ADD 15%
169	IXGISHARES TR	6,820	$455,000	0.0%	NEW
170	SPYSTATE STR SPDR S&P 500 ETF T	1,790	$450,000	0.0%	ADD 10%
171	RPMRPM INTL INC	8,425	$432,000	0.0%	TRIM −66%
172	GPKGRAPHIC PACKAGING HLDG CO	30,473	$425,000	0.0%	TRIM −32%
173	REGAL ENTMT GROUP	25,810	$413,000	0.0%	TRIM −54%
174	CYBERARK SOFTWARE LTD	9,300	$381,000	0.0%	TRIM −32%
175	INDAISHARES TR	10,555	$347,000	0.0%	HOLD
176	IXNISHARES TR	2,350	$335,000	0.0%	NEW
177	MDTMEDTRONIC PLC	4,276	$332,000	0.0%	HOLD
178	EEMAISHARES INC	4,745	$330,000	0.0%	HOLD
179	PPCPILGRIMS PRIDE CORP	9,715	$276,000	0.0%	TRIM −33%
180	PEVERPURE INC	15,764	$252,000	0.0%	NEW
181	PAGPPLAINS GP HLDGS L P	10,239	$224,000	0.0%	TRIM −32%
182	INPHI CORP	5,502	$218,000	0.0%	NEW
183	DUKDUKE ENERGY CORP NEW	2,585	$217,000	0.0%	NEW
184	GOLDCORP INC NEW	16,276	$211,000	0.0%	HOLD

☆BARING ASSET MANAGEMENT Ltd