BABSON CAPITAL MANAGEMENT LLC

Insurance Manager

BABSON CAPITAL MANAGEMENT LLC is an Insurance Manager based in Charlotte, NC led by Michael David Freno, reporting $345.21B in AUM as of Q3 2025 with 82% ETF concentration, 75% concentrated in top 10 holdings, 21% allocation to IVV, and minimal technology exposure.

CEOMichael David Freno

Portfolio Value: $5.1B
Positions: 163
Top Holding: IVV at 21%
Last Reported: Q3 2025

Address300 S. Tryon Street, Suite 2500, Charlotte, NC, 28202, United States

Top Holdings

Largest long holdings in BABSON CAPITAL MANAGEMENT LLC's portfolio (75% of total portfolio)

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Holding	Sector	Position	Weight	Traded	Ownership	Owned Since
1 iShares Core S&P 500 ETF IVV	ETF ETF	$1.1B	21.00%	+$12.0M Bought	— 1.6M shares	Q3 2016 Held for 9y 2m
2 Invesco QQQ Trust QQQ	ETF ETF	$535.5M	10.52%	+$598.7K Bought	— 894.4K shares	Q4 2020 Held for 4y 11m
3 iShares Russell 2000 Growth IWO	ETF ETF	$519.6M	10.21%	-$14.9M Sold	— 1.6M shares	Q4 2017 Held for 7y 11m
4 Vanguard Short-Term Corporate Bond VCSH	ETF ETF	$408.3M	8.02%	—	— 5.1M shares	Q4 2019 Held for 5y 11m
5 iShares Trust IGSB	ETF ETF	$362.7M	7.13%	—	— 6.8M shares	Q4 2018 Held for 6y 11m
6 iShares iBoxx $ Investment Grade Corporate Bond LQD	ETF ETF	$309.0M	6.07%	+$301.0M Bought	— 2.8M shares	Q4 2018 Held for 6y 11m
7 Janus Henderson AAA CLO JAAA	ETF ETF	$304.7M	5.99%	+$304.7M New	— 6.0M shares	Q3 2025 Held for 2 months
8 Barings BDC BBDC	Financial - Credit Services Financial Services	$119.5M	2.35%	—	12.97% 13.6M shares	Q3 2018 Held for 7y 2m
9 Vanguard Total World Stock VT	ETF ETF	$111.8M	2.20%	+$3.0M Bought	— 811.5K shares	Q1 2022 Held for 3y 8m
10 SPDR S&P 500 ETF Trust SPY	ETF ETF	$76.5M	1.50%	+$16.9M Bought	— 114.8K shares	Q2 2021 Held for 4y 5m

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Changes

Portfolio activity, position movements, and quarter-over-quarter changes in BABSON CAPITAL MANAGEMENT LLC's latest filing

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Market Value

$5.1B

Prior: $4.2B

Q/Q Change

+22.27%

+$927.0M

Net Flows % of MV

+11.38%

Turnover Ratio

10.46%

New Purchases

8 stocks

$344.2M

Added To

35 stocks

+$453.3M

Sold Out Of

17 stocks

$107.7M

Reduced Holdings

52 stocks

-$110.4M

Increased Positions

Position	Shares Δ	Change
1 Janus Henderson AAA CLO JAAA	New	0 → 6.0M +$304.7M
2 BlackRock U.S. Equity Factor Rotation DYNF	New	0 → 424.8K +$25.1M
3 iShares Global Utilities JXI	New	0 → 102.7K +$8.0M
4 SPDR Bloomberg International Corporate Bond IBND	New	0 → 94.7K +$3.1M
5 Cameco CCJ	New	0 → 30.3K +$2.5M

Decreased Positions

Position	Shares Δ	Change
1 iShares MSCI USA Quality Factor QUAL	Sold	275.8K → 0 −$50.4M
2 Vanguard Financials VFH	Sold	89.0K → 0 −$11.3M
3 CHA China Telecom CHA	Sold	432.9K → 0 −$11.3M
4 BEKE KE Holdings BEKE	Sold	530.0K → 0 −$9.4M
5 Ecolab ECL	Sold	19.7K → 0 −$5.3M

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Analytics

Portfolio insights and performance metrics for BABSON CAPITAL MANAGEMENT LLC

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Sector Allocation

ETF

82.40%

Basic Materials

4.20%

Financial Services

3.60%

Energy

1.80%

Technology

0.60%

Consumer Defensive

0.50%

Consumer Cyclical

0.50%

Industrials

0.50%

Healthcare

0.40%

Real Estate

0.40%

Communication Services

0.20%

Market Cap Distribution

Mega Cap (> $200B)

1.56%

Large Cap ($10B - $200B)

7.28%

Mid Cap ($2B - $10B)

1.93%

Small Cap ($300M - $2B)

2.90%

Nano Cap (< $50M)

0.00%

N/A (ETF or Unknown)

86.33%

Portfolio Concentration

Top 10 Holdings %

74.99%

Top 20 Holdings %

84.79%

Top 50 Holdings %

94.34%

Top 100 Holdings %

98.92%

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BABSON CAPITAL MANAGEMENT LLC

Top Holdings

Changes

Increased Positions

Decreased Positions

Analytics

Sector Allocation

Market Cap Distribution

Portfolio Concentration

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