CIK: 0001346378
Total reported value
$855.7M
Reporting period: 2026-03-31 · Number of holdings: 210
Baldwin Investment Management, LLC disclosed 210 holdings in its latest 13F filing for the period ending 2026-03-31, with total reported value of $855.7M and a quarterly turnover rate of 10.3%.
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Baldwin Investment Management, LLC's disclosed holdings carry a Herfindahl concentration index of 0.222 — mathematically equivalent to about 5 equally-sized positions, well below its 210 actual disclosed holdings. That gap points to a strategy built around a small core of high-conviction bets rather than broad diversification.
Position sizes vary widely across the portfolio (a coefficient of variation of 6.76), with a handful of outsized bets alongside many smaller positions.
No strong tilt toward either adding to existing winners or initiating outsized new positions was observed in the latest reported quarter.
Sector classification currently covers about 50% of this portfolio's disclosed value; the remainder includes holdings (e.g. unmapped tickers, options, or other security types) not yet covered by our sector mapping.
Trim BRK-A
-0.2% -$21.1M
Trim MSFT
+1.7% -$3.5M
Add XOM
-1.9% $2.6M
Add LRCX
-9.7% $2.1M
Trim AVGO
-2.8% -$3.3M
Add VRT
+0.2% $2.1M
Showing top 200 holdings (of 210 total)
| # | Ticker | Issuer | Asset Subclass | Weight | Weight Change | Shares Change | 4Q Trend |
|---|---|---|---|---|---|---|---|
| 1 | BRK-A | Berkshire Hathaway Inc-cl A | Stock-Other | 46.58% | -0.80% | -0.18% | |
| 2 | AVGO | Broadcom INC | Stock-Tech | 2.58% | -0.29% | -2.80% | |
| 3 | NVDA | Nvidia CORP | Stock-Tech | 2.33% | -0.10% | -1.17% | |
| 4 | LRCX | Lam Research CORP | Stock-Tech | 2.21% | +0.31% | -9.72% | |
| 5 | AAPL | Apple INC | Stock-Tech | 2.09% | -0.06% | +0.89% | |
| 6 | JPM | Jpmorgan Chase & Co | Stock-Financials | 1.66% | -0.09% | +0.12% | |
| 7 | MSFT | Microsoft CORP | Stock-Tech | 1.43% | -0.34% | +1.74% | |
| 8 | COST | Costco Wholesale CORP | Stock-Consumer Staples | 1.35% | +0.24% | +1.98% | |
| 9 | LLY | Eli Lilly & Co | Stock-Healthcare | 1.18% | -0.15% | -0.33% | |
| 10 | GOOGL | Alphabet Inc-cl A | Stock-Comm Services | 1.12% | -0.07% | -0.52% | |
| 11 | XOM | Exxon Mobil CORP | Stock-Energy | 1.09% | +0.33% | -1.94% | |
| 12 | BRK-B | Berkshire Hathaway Inc-cl B | Stock-Other | 1.09% | — | +6.90% | |
| 13 | AMZN | Amazon.com INC | Stock-Consumer Disc | 1.02% | -0.05% | +1.76% | |
| 14 | RTX | Rtx CORP | Stock-Industrials | 1.00% | — | -0.72% | |
| 15 | EPD | Enterprise Products Partners | Stock-Energy | 0.85% | +0.16% | -0.08% | |
| 16 | VRTX | Vertex Pharmaceuticals INC | Stock-Healthcare | 0.82% | — | +0.69% | |
| 17 | V | Visa Inc-class A Shares | Stock-Financials | 0.75% | -0.09% | +0.23% | |
| 18 | ABBV | Abbvie INC | Stock-Healthcare | 0.72% | — | -0.35% | |
| 19 | VRT | Vertiv Holdings Co-a | Stock-Industrials | 0.71% | +0.27% | +0.25% | |
| 20 | CAT | Caterpillar INC | Stock-Industrials | 0.67% | +0.14% | -1.94% | |
| 21 | TSM | Taiwan Semiconductor-sp Adr | Stock-Tech | 0.66% | +0.09% | +1.00% | |
| 22 | LIN | Linde plc | Stock-Materials | 0.65% | +0.11% | -0.44% | |
| 23 | VOO | Vanguard S&p 500 ETF | ETF-Large Cap & Growth | 0.64% | — | +3.30% | |
| 24 | GS | Goldman Sachs Group INC | Stock-Financials | 0.62% | — | -0.82% | |
| 25 | ISRG | Intuitive Surgical INC | Stock-Healthcare | 0.58% | -0.10% | +2.45% | |
| 26 | SPGI | S&p Global INC | Stock-Financials | 0.55% | -0.07% | +6.36% | |
| 27 | ETN | Eaton Corporation plc | Stock-Industrials | 0.54% | +0.07% | +0.12% | |
| 28 | BLK | Blackrock INC | Stock-Financials | 0.52% | -0.04% | — | |
| 29 | BKR | Baker Hughes Co | Stock-Energy | 0.51% | +0.13% | -2.81% | |
| 30 | JNJ | Johnson & Johnson | Stock-Healthcare | 0.50% | +0.09% | -0.32% | |
| 31 | GOOG | Alphabet Inc-cl C | Stock-Comm Services | 0.50% | -0.05% | -3.17% | |
| 32 | PANW | Palo Alto Networks INC | Stock-Tech | 0.50% | — | +7.85% | |
| 33 | ABT | Abbott Laboratories | Stock-Healthcare | 0.48% | -0.08% | +0.66% | |
| 34 | TMO | Thermo Fisher Scientific INC | Stock-Healthcare | 0.47% | -0.06% | -0.12% | |
| 35 | HD | Home Depot INC | Stock-Consumer Disc | 0.45% | — | +5.30% | |
| 36 | ROK | Rockwell Automation INC | Stock-Industrials | 0.44% | — | -0.05% | |
| 37 | NEE | Nextera Energy INC | Stock-Utilities | 0.41% | +0.07% | -0.26% | |
| 38 | MS | Morgan Stanley | Stock-Financials | 0.38% | — | -0.87% | |
| 39 | UNP | Union Pacific CORP | Stock-Industrials | 0.36% | — | -0.12% | |
| 40 | TJX | Tjx Companies INC | Stock-Consumer Disc | 0.34% | — | +0.41% | |
| 41 | COF | Capital One Financial CORP | Stock-Financials | 0.34% | -0.06% | +7.38% | |
| 42 | VTI | Vanguard Total Stock Mkt ETF | ETF-Other | 0.32% | — | +11.04% | |
| 43 | ZTS | Zoetis INC | Stock-Healthcare | 0.30% | — | +0.62% | |
| 44 | ADSK | Autodesk INC | Stock-Tech | 0.30% | +0.14% | +120.55% | |
| 45 | WM | Waste Management INC | Stock-Industrials | 0.29% | — | -0.37% | |
| 46 | LOW | Lowe's Cos INC | Stock-Consumer Disc | 0.28% | — | — | |
| 47 | DRI | Darden Restaurants INC | Stock-Consumer Disc | 0.27% | — | -0.62% | |
| 48 | MCD | Mcdonald's CORP | Stock-Consumer Disc | 0.26% | — | -3.70% | |
| 49 | DHR | Danaher CORP | Stock-Healthcare | 0.26% | -0.05% | -1.65% | |
| 50 | DE | Deere & Co | Stock-Industrials | 0.25% | +0.08% | +14.87% |
Performance for Q3 2026
—
Performance Last 4 Quarters
—
Based on 41% of reported portfolio value with available pricing
| Period | Holdings | Total value | Stability | Top holdings |
|---|---|---|---|---|
| 2026-03-31 | 210 | $855.7M | 10 | |
| 2025-12-31 | 207 | $885.8M | 6 | |
| 2025-09-30 | 207 | $873.4M | 16 | |
| 2025-06-30 | 209 | $828.4M | 0 | |
| 2025-03-31 | 200 | $831.9M | 100 | |
| 2024-12-31 | 199 | $767.9M | 0 | |
| 2024-09-30 | 213 | $797.9M | 0 | |
| 2024-06-30 | 205 | $730.2M | 0 | |
| 2024-03-31 | 209 | $737.3M | 0 | |
| 2023-12-31 | 203 | $639.8M | 0 | |
| 2023-09-30 | 192 | $598.1M | 0 | |
| 2023-06-30 | 196 | $607.0M | 0 | |
| 2023-03-31 | 199 | $563.6M | 0 | |
| 2022-12-31 | 195 | $553.1M | 0 | |
| 2022-09-30 | 197 | $491.2M | 0 | |
| 2022-06-30 | 215 | $526.3M | 0 | |
| 2022-03-31 | 241 | $660.6M | 0 | |
| 2021-12-31 | 253 | $640.2M | 0 | |
| 2021-09-30 | 246 | $574.4M | 0 | |
| 2021-06-30 | 252 | $587.5M | 100 | |
| 2021-03-31 | 242 | $547.8M | 14 | |
| 2020-12-31 | 235 | $506.0M | 18 | |
| 2020-09-30 | 202 | $426.8M | 31 | |
| 2020-06-30 | 152 | $318.5M | 12 | |
| 2020-03-31 | 144 | $290.4M | 26 | |
| 2019-12-31 | 167 | $373.7M | 11 | |
| 2019-09-30 | 166 | $343.8M | 7 | |
| 2019-06-30 | 165 | $346.5M | 7 | |
| 2019-03-31 | 166 | $332.1M | 10 | |
| 2018-12-31 | 157 | $314.6M | 12 | |
| 2018-09-30 | 170 | $349.2M | 12 | |
| 2018-06-30 | 171 | $318.2M | 22 | |
| 2018-03-31 | 108 | $279.6M | 3 | |
| 2017-12-31 | 110 | $280.8M | 9 | |
| 2017-09-30 | 110 | $265.0M | 9 | |
| 2017-06-30 | 108 | $249.0M | 6 | |
| 2017-03-31 | 120 | $258.2M | 5 | |
| 2016-12-31 | 120 | $251.6M | 12 | |
| 2016-09-30 | 121 | $233.9M | 5 | |
| 2016-06-30 | 119 | $232.8M | 5 | |
| 2016-03-31 | 123 | $231.8M | 11 | |
| 2015-12-31 | 123 | $222.6M | 9 | |
| 2015-09-30 | 128 | $227.0M | 11 | |
| 2015-06-30 | 133 | $241.7M | 8 | |
| 2015-03-31 | 135 | $252.6M | 7 | |
| 2014-12-31 | 133 | $258.0M | 12 | |
| 2014-09-30 | 136 | $243.2M | 9 | |
| 2014-06-30 | 133 | $231.3M | 6 | |
| 2014-03-31 | 136 | $226.0M | 7 | |
| 2013-12-31 | 135 | $221.9M | 8 | |
| 2013-09-30 | 128 | $207.5M | 4 | |
| 2013-06-30 | 125 | $202.0M | — |
Baldwin Investment Management, LLC's most significant position changes for 2026-03-31: Sold out: Carnival CORP LTD (CCL1EUR); New buy: Carnival CORP LTD Common Shares; New buy: Palantir Technologies Inc-a (PLTR); New buy: Franklin Ftse South Korea (FLKR); Trim: Berkshire Hathaway Inc-cl A (BRK-A) — shares -0.18%.
| # | Ticker | Issuer | Weight Change | Shares Change | Action |
|---|---|---|---|---|---|
| 1 | XOM | Exxon Mobil CORP | +0.3% | -1.94% | Trim |
| 2 | LRCX | Lam Research CORP | +0.3% | -9.72% | Trim |
| 3 | VRT | Vertiv Holdings Co-a | +0.3% | +0.25% | Add |
| 4 | COST | Costco Wholesale CORP | +0.2% | +1.98% | Add |
| 5 | EPD | Enterprise Products Partners | +0.2% | -0.08% | Trim |
| 6 | DELL | Dell Technologies -c | +0.2% | +96.72% | Add |
| 7 | ADSK | Autodesk INC | +0.1% | +120.55% | Add |
| 8 | CAT | Caterpillar INC | +0.1% | -1.94% | Trim |
| 9 | BKR | Baker Hughes Co | +0.1% | -2.81% | Trim |
| 10 | LIN | Linde plc | +0.1% | -0.44% | Trim |
| 11 | JNJ | Johnson & Johnson | +0.1% | -0.32% | Trim |
| 12 | TSM | Taiwan Semiconductor-sp Adr | +0.1% | +1.00% | Add |
| 13 | DE | Deere & Co | +0.1% | +14.87% | Add |
| 14 | DIS | Walt Disney Co/the | +0.1% | +80.04% | Add |
| 15 | ETN | Eaton Corporation plc | +0.1% | +0.12% | Add |
| 16 | NEE | Nextera Energy INC | +0.1% | -0.26% | Trim |
| 17 | CVX | Chevron CORP | +0.1% | — | Unchanged |
| 18 | BLK | Blackrock INC | 0% | — | Unchanged |
| 19 | IMNM | Immunome INC | 0% | -46.16% | Trim |
| 20 | FSLR | First Solar INC | 0% | -1.66% | Trim |
| 21 | AMZN | Amazon.com INC | -0.1% | +1.76% | Add |
| 22 | GOOG | Alphabet Inc-cl C | -0.1% | -3.17% | Trim |
| 23 | DHR | Danaher CORP | -0.1% | -1.65% | Trim |
| 24 | BX | Blackstone INC | -0.1% | — | Unchanged |
| 25 | AXP | American Express Co | -0.1% | — | Unchanged |
| 26 | AAPL | Apple INC | -0.1% | +0.89% | Add |
| 27 | TMO | Thermo Fisher Scientific INC | -0.1% | -0.12% | Trim |
| 28 | COF | Capital One Financial CORP | -0.1% | +7.38% | Add |
| 29 | ZS | Zscaler INC | -0.1% | — | Unchanged |
| 30 | BSX | Boston Scientific CORP | -0.1% | -13.69% | Trim |
| 31 | GOOGL | Alphabet Inc-cl A | -0.1% | -0.52% | Trim |
| 32 | SPGI | S&p Global INC | -0.1% | +6.36% | Add |
| 33 | ORCL | Oracle CORP | -0.1% | -32.04% | Trim |
| 34 | ABT | Abbott Laboratories | -0.1% | +0.66% | Add |
| 35 | ACN | Accenture plc | -0.1% | -3.69% | Trim |
| 36 | JPM | Jpmorgan Chase & Co | -0.1% | +0.12% | Add |
| 37 | V | Visa Inc-class A Shares | -0.1% | +0.23% | Add |
| 38 | ADBE | Adobe INC | -0.1% | -22.46% | Trim |
| 39 | UBER | Uber Technologies INC | -0.1% | -56.49% | Trim |
| 40 | NVDA | Nvidia CORP | -0.1% | -1.17% | Trim |
| 41 | ISRG | Intuitive Surgical INC | -0.1% | +2.45% | Add |
| 42 | SPY | Ss Spdr S&p 500 ETF Trust-us | -0.1% | -30.51% | Trim |
| 43 | LLY | Eli Lilly & Co | -0.2% | -0.33% | Trim |
| 44 | AVGO | Broadcom INC | -0.3% | -2.80% | Trim |
| 45 | MSFT | Microsoft CORP | -0.3% | +1.74% | Add |
| 46 | BRK-A | Berkshire Hathaway Inc-cl A | -0.8% | -0.18% | Trim |
| 47 | CCL1EUR | Carnival CORP LTD | — | EXIT | Sold out |
| 48 | ✓ | Carnival CORP LTD Common Shares | — | NEW | New buy |
| 49 | PLTR | Palantir Technologies Inc-a | — | NEW | New buy |
| 50 | FLKR | Franklin Ftse South Korea | — | NEW | New buy |
| Period | Filed | Type | EDGAR |
|---|---|---|---|
| 2026-03-31 | 2026-05-12 | 13F-HR | View on EDGAR |
| 2025-12-31 | 2026-02-13 | 13F-HR | View on EDGAR |
| 2025-09-30 | 2025-11-10 | 13F-HR | View on EDGAR |
| 2025-06-30 | 2025-08-11 | 13F-HR | View on EDGAR |
| 2025-03-31 | 2025-05-07 | 13F-HR | View on EDGAR |
| 2024-12-31 | 2025-02-14 | 13F-HR | View on EDGAR |
| 2024-09-30 | 2024-11-13 | 13F-HR | View on EDGAR |
| 2024-06-30 | 2024-07-30 | 13F-HR | View on EDGAR |
| 2024-03-31 | 2024-05-14 | 13F-HR | View on EDGAR |
| 2023-12-31 | 2024-02-13 | 13F-HR | View on EDGAR |
| 2023-09-30 | 2023-11-14 | 13F-HR | View on EDGAR |
| 2023-06-30 | 2023-08-01 | 13F-HR | View on EDGAR |
| 2023-03-31 | 2023-05-15 | 13F-HR | View on EDGAR |
| 2022-12-31 | 2023-02-10 | 13F-HR | View on EDGAR |
| 2022-09-30 | 2022-11-14 | 13F-HR | View on EDGAR |
| 2022-06-30 | 2022-08-02 | 13F-HR | View on EDGAR |
| 2022-03-31 | 2022-05-16 | 13F-HR | View on EDGAR |
| 2021-12-31 | 2022-02-11 | 13F-HR | View on EDGAR |
| 2021-09-30 | 2021-11-15 | 13F-HR | View on EDGAR |
| 2021-06-30 | 2021-08-16 | 13F-HR | View on EDGAR |
| 2021-03-31 | 2021-05-14 | 13F-HR | View on EDGAR |
| 2020-12-31 | 2021-02-16 | 13F-HR | View on EDGAR |
| 2020-09-30 | 2020-11-13 | 13F-HR | View on EDGAR |
| 2020-06-30 | 2020-07-27 | 13F-HR | View on EDGAR |
| 2020-03-31 | 2020-05-12 | 13F-HR | View on EDGAR |
| 2019-12-31 | 2020-02-10 | 13F-HR | View on EDGAR |
| 2019-09-30 | 2019-11-13 | 13F-HR | View on EDGAR |
| 2019-06-30 | 2019-08-06 | 13F-HR | View on EDGAR |
| 2019-03-31 | 2019-05-10 | 13F-HR | View on EDGAR |
| 2018-12-31 | 2019-02-13 | 13F-HR | View on EDGAR |
| 2018-09-30 | 2018-11-09 | 13F-HR | View on EDGAR |
| 2018-06-30 | 2018-08-15 | 13F-HR | View on EDGAR |
| 2018-03-31 | 2018-05-11 | 13F-HR | View on EDGAR |
| 2017-12-31 | 2018-02-13 | 13F-HR | View on EDGAR |
| 2017-09-30 | 2017-11-13 | 13F-HR | View on EDGAR |
| 2017-06-30 | 2017-08-08 | 13F-HR | View on EDGAR |
| 2017-03-31 | 2017-05-09 | 13F-HR | View on EDGAR |
| 2016-12-31 | 2017-02-13 | 13F-HR | View on EDGAR |
| 2016-09-30 | 2016-11-14 | 13F-HR | View on EDGAR |
| 2016-06-30 | 2016-08-02 | 13F-HR | View on EDGAR |
| 2016-03-31 | 2016-05-10 | 13F-HR | View on EDGAR |
| 2015-12-31 | 2016-02-09 | 13F-HR | View on EDGAR |
| 2015-09-30 | 2015-11-12 | 13F-HR | View on EDGAR |
| 2015-06-30 | 2015-08-11 | 13F-HR | View on EDGAR |
| 2015-03-31 | 2015-05-04 | 13F-HR | View on EDGAR |
| 2014-12-31 | 2015-02-06 | 13F-HR | View on EDGAR |
| 2014-09-30 | 2014-11-12 | 13F-HR | View on EDGAR |
| 2014-06-30 | 2014-08-08 | 13F-HR | View on EDGAR |
| 2014-03-31 | 2014-05-08 | 13F-HR | View on EDGAR |
| 2013-12-31 | 2014-02-10 | 13F-HR | View on EDGAR |
| 2013-09-30 | 2013-11-06 | 13F-HR | View on EDGAR |
| 2013-06-30 | 2013-08-09 | 13F-HR | View on EDGAR |
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