BI
Baldwin Investment Management, LLC Holdings Report (Q2 2026) — 13F Stock Portfolio
Baldwin Investment Management, LLCCIK: 0001346378
Momentum followerConcentrated strategy
Total reported value
$1.0B
Reporting period: 2026-06-30 · Number of holdings: 231
Baldwin Investment Management, LLC disclosed 231 holdings in its latest 13F filing for the period ending 2026-06-30, with total reported value of $1.0B and a quarterly turnover rate of 24.5%.
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Personality snowflake
- Concentration
- 67.29
- Portfolio Stability
- 24.47
- Momentum
- 100
- Sector conviction
- 56.92
- Diversification
- 100
- Sizing Uniformity
- 38.33
Baldwin Investment Management, LLC's disclosed holdings carry a Herfindahl concentration index of 0.168 — mathematically equivalent to about 6 equally-sized positions, well below its 231 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 6.17), 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 53% 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.
Source and citation information
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Recent moves
View source Form 13F filing on SEC.govTrim BRK-A
0.0% $17.0M
Add LRCX
-3.9% $18.0M
Sold out XOM
New buy 30233Q108
Add AAPL
+41.4% $11.0M
Add GOOGL
+37.3% $6.8M
Holdings Map
New buyAddUnchangedTrim
Top 10 holdings by weight
Full holdings list this quarter
Showing top 200 holdings (of 231 total)
| # | Ticker | Issuer | Asset Subclass | Weight | Weight Change | Shares Change | 4Q Trend |
|---|---|---|---|---|---|---|---|
| 1 | BRK-A | Berkshire Hathaway Inc-cl A | Stock-Other | 40.20% | -6.38% | — | |
| 2 | LRCX | Lam Research CORP | Stock-Tech | 3.57% | +1.36% | -3.93% | |
| 3 | AAPL | Apple Inc | Stock-Tech | 2.79% | +0.70% | +41.41% | |
| 4 | AVGO | Broadcom Inc | Stock-Tech | 2.75% | +0.17% | +5.32% | |
| 5 | NVDA | Nvidia CORP | Stock-Tech | 2.61% | +0.28% | +18.09% | |
| 6 | JPM | Jpmorgan Chase & Co | Stock-Financials | 1.94% | +0.28% | +27.02% | |
| 7 | MSFT | Microsoft CORP | Stock-Tech | 1.60% | +0.17% | +34.69% | |
| 8 | GOOGL | Alphabet Inc-cl A | Stock-Comm Services | 1.59% | +0.47% | +37.26% | |
| 9 | LLY | Eli Lilly & Co | Stock-Healthcare | 1.50% | +0.32% | +18.46% | |
| 10 | COST | Costco Wholesale CORP | Stock-Consumer Staples | 1.35% | — | +28.36% | |
| 11 | RTX | Rtx CORP | Stock-Industrials | 1.14% | +0.14% | +39.28% | |
| 12 | AMZN | Amazon.com Inc | Stock-Consumer Disc | 1.08% | +0.06% | +11.73% | |
| 13 | BRK-B | Berkshire Hathaway Inc-cl B | Stock-Other | 0.96% | -0.13% | +1.88% | |
| 14 | PANW | Palo Alto Networks Inc | Stock-Tech | 0.94% | +0.44% | +7.41% | |
| 15 | ✓ | Stock-Other | 0.90% | +0.90% | NEW | ||
| 16 | CAT | Caterpillar Inc | Stock-Industrials | 0.86% | +0.19% | +3.57% | |
| 17 | VRTX | Vertex Pharmaceuticals Inc | Stock-Healthcare | 0.81% | -0.01% | +7.71% | |
| 18 | V | Visa Inc-class A Shares | Stock-Financials | 0.80% | +0.05% | +12.15% | |
| 19 | VRT | Vertiv Holdings Co-a | Stock-Industrials | 0.77% | +0.06% | -1.12% | |
| 20 | ABBV | Abbvie Inc | Stock-Healthcare | 0.76% | +0.04% | +10.01% | |
| 21 | TSM | Taiwan Semiconductor-sp Adr | Stock-Tech | 0.76% | +0.10% | -1.66% | |
| 22 | ETN | Eaton Corporation plc | Stock-Industrials | 0.72% | +0.18% | +34.32% | |
| 23 | GS | Goldman Sachs Group Inc | Stock-Financials | 0.69% | +0.07% | +12.02% | |
| 24 | EPD | Enterprise Products Partners | Stock-Energy | 0.68% | -0.17% | -0.26% | |
| 25 | JNJ | Johnson & Johnson | Stock-Healthcare | 0.68% | +0.18% | +55.87% | |
| 26 | BLK | Blackrock Inc | Stock-Financials | 0.64% | +0.12% | +48.73% | |
| 27 | LIN | Linde plc | Stock-Materials | 0.62% | -0.03% | +10.69% | |
| 28 | VOO | Vanguard S&p 500 ETF | ETF-Large Cap & Growth | 0.61% | -0.02% | +0.87% | |
| 29 | DELL | Dell Technologies -c | Stock-Tech | 0.55% | +0.31% | +6.54% | |
| 30 | NEE | Nextera Energy Inc | Stock-Utilities | 0.53% | +0.12% | +66.08% | |
| 31 | ROK | Rockwell Automation Inc | Stock-Industrials | 0.52% | +0.08% | +4.49% | |
| 32 | ISRG | Intuitive Surgical Inc | Stock-Healthcare | 0.49% | -0.09% | +17.93% | |
| 33 | TMO | Thermo Fisher Scientific Inc | Stock-Healthcare | 0.48% | +0.01% | +23.20% | |
| 34 | GOOG | Alphabet Inc-cl C | Stock-Comm Services | 0.48% | -0.02% | -6.09% | |
| 35 | TJX | Tjx Companies Inc | Stock-Consumer Disc | 0.47% | +0.13% | +74.29% | |
| 36 | BKR | Baker Hughes Co | Stock-Energy | 0.47% | -0.04% | +20.29% | |
| 37 | SPGI | S&p Global Inc | Stock-Financials | 0.45% | -0.10% | +2.55% | |
| 38 | MA | Mastercard Inc - A | Stock-Financials | 0.44% | +0.19% | +110.03% | |
| 39 | HD | Home Depot Inc | Stock-Consumer Disc | 0.42% | -0.03% | +5.70% | |
| 40 | COF | Capital One Financial CORP | Stock-Financials | 0.41% | +0.07% | +31.93% | |
| 41 | MS | Morgan Stanley | Stock-Financials | 0.41% | +0.03% | +2.89% | |
| 42 | LOW | Lowe's Cos Inc | Stock-Consumer Disc | 0.37% | +0.09% | +68.49% | |
| 43 | VTI | Vanguard Total Stock Mkt ETF | ETF-Other | 0.36% | +0.04% | +17.48% | |
| 44 | DRI | Darden Restaurants Inc | Stock-Consumer Disc | 0.34% | +0.07% | +41.13% | |
| 45 | UNP | Union Pacific CORP | Stock-Industrials | 0.34% | -0.02% | -0.12% | |
| 46 | ABT | Abbott Laboratories | Stock-Healthcare | 0.33% | -0.15% | -4.96% | |
| 47 | SO | Southern Co/the | Stock-Utilities | 0.31% | +0.10% | +82.06% | |
| 48 | CRWD | Crowdstrike Holdings Inc - A | Stock-Tech | 0.31% | +0.26% | +296.46% | |
| 49 | WM | Waste Management Inc | Stock-Industrials | 0.30% | +0.01% | +28.48% | |
| 50 | ULTA | Ulta Beauty Inc | Stock-Consumer Disc | 0.29% | +0.08% | +97.40% |
1–50 of 200
* This report is exclusively curated by the AlphaSMO team. AlphaSMO is the web's most authoritative 13F / Inside Trader database, delivering precise insider trading and institutional holdings insights.
Portfolio Performance
Performance for Q3 2026
+2.9%
Performance Last 4 Quarters
+14.6%
Based on 52% of reported portfolio value with available pricing
- Stdev
- +14%
- Beta
- +0.92
- Alpha
- +1.1%
- Max Drawdown
- -7.7%
- Annualized Perf
- +9.6%
- Batting Avg vs S&P
- +40%
- Sortino
- +1.31
- Stutzer
- +0.22
- Treynor
- +0.11
- Sterling
- +0.63
- Calmar
- +1.24
- Information Ratio
- +0.09
- Tracking Error
- +3.8%
- Stdev Down
- +7.7%
- Winning Months %
- +53.3%
- Losing Months %
- +46.7%
- Best 12 Months
- +14.2%
- Worst 12 Months
- +8.9%
- Efficiency Ratio
- +0.25
- Sharpe
- +0.72
- Stdev Sectors
- +9.5%
- Skewness
- +0.19
- Kurtosis
- -0.38
- Upside Potential
- +3.15
Reported value over time
Sector allocation
Sector allocation over time
Quarterly history
| Period | Holdings | Total value | Stability | Top holdings | |
|---|---|---|---|---|---|
| 2026 Q2 | 231 | $1.0B | 24 | ||
| 2026 Q1 | 210 | $855.7M | 10 | ||
| 2025 Q4 | 207 | $885.8M | 6 | ||
| 2025 Q3 | 207 | $873.4M | 16 | ||
| 2025 Q2 | 209 | $828.4M | 0 | ||
| 2025 Q1 | 200 | $831.9M | 100 | ||
| 2024 Q4 | 199 | $391.7M | 0 | ||
| 2024 Q3 | 213 | $797.9M | 0 | ||
| 2024 Q2 | 205 | $730.2M | 0 | ||
| 2024 Q1 | 209 | $737.3M | 0 | ||
| 2023 Q4 | 203 | $639.8M | 0 | ||
| 2023 Q3 | 192 | $598.1M | 0 | ||
| 2023 Q2 | 196 | $607.0M | 0 | ||
| 2023 Q1 | 199 | $563.6M | 0 | ||
| 2022 Q4 | 195 | $553.1M | 0 | ||
| 2022 Q3 | 197 | $491.2M | 0 | ||
| 2022 Q2 | 215 | $526.3M | 0 | ||
| 2022 Q1 | 241 | $660.6M | 0 | ||
| 2021 Q4 | 253 | $640.2M | 0 | ||
| 2021 Q3 | 246 | $574.4M | 0 | ||
| 2021 Q2 | 252 | $587.5M | 100 | ||
| 2021 Q1 | 242 | $547.8M | 14 | ||
| 2020 Q4 | 235 | $506.0M | 18 | ||
| 2020 Q3 | 202 | $426.8M | 31 | ||
| 2020 Q2 | 152 | $318.5M | 12 | ||
| 2020 Q1 | 144 | $290.4M | 26 | ||
| 2019 Q4 | 167 | $373.7M | 11 | ||
| 2019 Q3 | 166 | $343.8M | 7 | ||
| 2019 Q2 | 165 | $346.5M | 7 | ||
| 2019 Q1 | 166 | $332.1M | 10 | ||
| 2018 Q4 | 157 | $314.6M | 12 | ||
| 2018 Q3 | 170 | $349.2M | 12 | ||
| 2018 Q2 | 171 | $318.2M | 22 | ||
| 2018 Q1 | 108 | $279.6M | 3 | ||
| 2017 Q4 | 110 | $280.8M | 9 | ||
| 2017 Q3 | 110 | $265.0M | 9 | ||
| 2017 Q2 | 108 | $249.0M | 6 | ||
| 2017 Q1 | 120 | $258.2M | 5 | ||
| 2016 Q4 | 120 | $251.6M | 12 | ||
| 2016 Q3 | 121 | $233.9M | 5 | ||
| 2016 Q2 | 119 | $232.8M | 5 | ||
| 2016 Q1 | 123 | $231.8M | 11 | ||
| 2015 Q4 | 123 | $222.6M | 9 | ||
| 2015 Q3 | 128 | $227.0M | 11 | ||
| 2015 Q2 | 133 | $241.7M | 8 | ||
| 2015 Q1 | 135 | $252.6M | 7 | ||
| 2014 Q4 | 133 | $258.0M | 12 | ||
| 2014 Q3 | 136 | $243.2M | 9 | ||
| 2014 Q2 | 133 | $231.3M | 6 | ||
| 2014 Q1 | 136 | $226.0M | 7 | ||
| 2013 Q4 | 135 | $221.9M | 8 | ||
| 2013 Q3 | 128 | $207.5M | 4 | ||
| 2013 Q2 | 125 | $202.0M | — |
Holding changes this quarter
Baldwin Investment Management, LLC's most significant position changes for 2026-06-30: Sold out: Exxon Mobil CORP (XOM); New buy: ; New buy: Texas Instruments Inc (TXN); New buy: ; New buy: .
Showing top 200 changes by size (of 240 total)
| # | Ticker | Issuer | Weight Change | Shares Change | Action |
|---|---|---|---|---|---|
| 1 | LRCX | Lam Research CORP | +1.4% | -3.93% | Trim |
| 2 | ✓ | +0.9% | NEW | New buy | |
| 3 | AAPL | Apple Inc | +0.7% | +41.41% | Add |
| 4 | GOOGL | Alphabet Inc-cl A | +0.5% | +37.26% | Add |
| 5 | PANW | Palo Alto Networks Inc | +0.4% | +7.41% | Add |
| 6 | LLY | Eli Lilly & Co | +0.3% | +18.46% | Add |
| 7 | DELL | Dell Technologies -c | +0.3% | +6.54% | Add |
| 8 | NVDA | Nvidia CORP | +0.3% | +18.09% | Add |
| 9 | JPM | Jpmorgan Chase & Co | +0.3% | +27.02% | Add |
| 10 | CRWD | Crowdstrike Holdings Inc - A | +0.3% | +296.46% | Add |
| 11 | TXN | Texas Instruments Inc | +0.2% | NEW | New buy |
| 12 | CAT | Caterpillar Inc | +0.2% | +3.57% | Add |
| 13 | MA | Mastercard Inc - A | +0.2% | +110.03% | Add |
| 14 | ETN | Eaton Corporation plc | +0.2% | +34.32% | Add |
| 15 | JNJ | Johnson & Johnson | +0.2% | +55.87% | Add |
| 16 | AVGO | Broadcom Inc | +0.2% | +5.32% | Add |
| 17 | MSFT | Microsoft CORP | +0.2% | +34.69% | Add |
| 18 | ✓ | +0.2% | NEW | New buy | |
| 19 | MRVL | Marvell Technology Inc | +0.2% | -19.50% | Trim |
| 20 | NFLX | Netflix Inc | +0.2% | +380.43% | Add |
| 21 | ✓ | +0.2% | NEW | New buy | |
| 22 | RTX | Rtx CORP | +0.1% | +39.28% | Add |
| 23 | TJX | Tjx Companies Inc | +0.1% | +74.29% | Add |
| 24 | BLK | Blackrock Inc | +0.1% | +48.73% | Add |
| 25 | NEE | Nextera Energy Inc | +0.1% | +66.08% | Add |
| 26 | DDOG | Datadog Inc - Class A | +0.1% | +14.57% | Add |
| 27 | KO | Coca-cola Co/the | +0.1% | +127.63% | Add |
| 28 | TSM | Taiwan Semiconductor-sp Adr | +0.1% | -1.66% | Trim |
| 29 | SO | Southern Co/the | +0.1% | +82.06% | Add |
| 30 | FSLR | First Solar Inc | +0.1% | +77.73% | Add |
| 31 | MU | Micron Technology Inc | +0.1% | +11.44% | Add |
| 32 | LOW | Lowe's Cos Inc | +0.1% | +68.49% | Add |
| 33 | SYK | Stryker CORP | +0.1% | NEW | New buy |
| 34 | ROK | Rockwell Automation Inc | +0.1% | +4.49% | Add |
| 35 | ULTA | Ulta Beauty Inc | +0.1% | +97.40% | Add |
| 36 | AON | Aon plc | +0.1% | +282.78% | Add |
| 37 | IVV | Ishares Core S&p 500 ETF | +0.1% | NEW | New buy |
| 38 | GS | Goldman Sachs Group Inc | +0.1% | +12.02% | Add |
| 39 | COF | Capital One Financial CORP | +0.1% | +31.93% | Add |
| 40 | DRI | Darden Restaurants Inc | +0.1% | +41.13% | Add |
| 41 | BWA | Borgwarner Inc | +0.1% | +41.49% | Add |
| 42 | SNPS | Synopsys Inc | +0.1% | +51.68% | Add |
| 43 | ORCL | Oracle CORP | +0.1% | +131.56% | Add |
| 44 | MDT | Medtronic plc | +0.1% | NEW | New buy |
| 45 | AMZN | Amazon.com Inc | +0.1% | +11.73% | Add |
| 46 | VRT | Vertiv Holdings Co-a | +0.1% | -1.12% | Trim |
| 47 | ASML | ASML Holding N.V. | +0.1% | +6.90% | Add |
| 48 | META | Meta Platforms Inc-class A | +0.1% | +63.62% | Add |
| 49 | CSCO | Cisco Systems Inc | +0.1% | +19.63% | Add |
| 50 | MCK | Mckesson CORP | +0.1% | +107.75% | Add |
1–50 of 200
Filing History
FAQ
What is Baldwin Investment Management, LLC and what type of investor is it?
Baldwin Investment Management, LLC is an investment manager that files SEC Form 13F quarterly, disclosing its U.S. public equity holdings to regulators. As of the most recent reporting period (2026-06-30), the firm manages a tracked equity portfolio valued at approximately $1.0B, spread across 231 disclosed positions.
What are Baldwin Investment Management, LLC's largest equity positions?
Based on the latest 13F filing, Baldwin Investment Management, LLC's top holdings by market value are:
1. Berkshire Hathaway Inc-cl A (BRK-A) — $415.6M (40.2%)
2. Lam Research CORP (LRCX) — $36.9M (3.6%)
3. Apple Inc (AAPL) — $28.9M (2.8%)
4. Broadcom Inc (AVGO) — $28.4M (2.8%)
5. Nvidia CORP (NVDA) — $27.0M (2.6%)
What changes did Baldwin Investment Management, LLC make in its most recent portfolio filing?
In the latest reported quarter, Baldwin Investment Management, LLC made 185 notable position adjustments: 30 new positions were initiated, 99 existing holdings were added to, 47 positions were partially reduced, and 9 were completely exited. The largest of these moves: Sold out: Exxon Mobil CORP (XOM); New buy: ; New buy: Texas Instruments Inc (TXN); New buy: ; New buy:
What sectors does Baldwin Investment Management, LLC focus on?
Baldwin Investment Management, LLC is concentrated in the following sectors based on its current disclosed equity portfolio:
• Information Technology: 35.8%
• Financials: 13.6%
• Health Care: 12.7%
• Industrials: 11.5%
• Consumer Discretionary: 8.0%
• Communication Services: 5.6%
Investment Profile
Baldwin Investment Management, LLC returned an annualized 9.6% over the trailing 15 months — outperforming the S&P 500 by 1.1 points — based on a reconstructed track record of its disclosed 13F positions, with a beta of 0.92 (roughly in line with the market) and a 40% quarterly batting average against the index.
Its portfolio is concentrated and moderately active, with 35.8% of the portfolio concentrated in Information Technology.
Its concentration score has fallen from 97 to 67 over the past 4 quarters — a shift toward broader diversification.
It has added to its LRCX position over the past two quarters (+$20.1M, now $36.9M), while trimming ZTS over the same stretch (-$1.6M, still holding $1.1M).
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Developer Access
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