# Baldwin Investment Management, LLC

> Institutional holdings reported to the SEC as of Q2 2026 on Form 13F. CIK 1346378. Source: https://holderbook.com/funds/1346378-baldwin-investment-management-llc/

- Reported value: $1.0B
- Positions: 231
- Weight of the ten largest: 59.9%
- Filed: 2026-07-28

A 13F reports long US equity positions only. Short positions, bonds, foreign listings, private holdings and cash are not visible, so this is not the manager's whole book.

## Holdings

| Security | Ticker | Value | Shares | Weight | Quarters held |
|---|---|---|---|---|---|
| BERKSHIRE HATHAWAY INC DEL | [BRKA](https://holderbook.com/stocks/BRKA/) | $415.6M | 555 | 40.2% | 6 |
| LAM RESEARCH CORP | [LRCX](https://holderbook.com/stocks/LRCX/) | $36.9M | 85,114 | 3.6% | 8 |
| APPLE INC | [AAPL](https://holderbook.com/stocks/AAPL/) | $28.9M | 99,797 | 2.8% | 31 |
| BROADCOM INC | [AVGO](https://holderbook.com/stocks/AVGO/) | $28.4M | 75,155 | 2.7% | 21 |
| NVIDIA CORPORATION | [NVDA](https://holderbook.com/stocks/NVDA/) | $27.0M | 134,950 | 2.6% | 31 |
| JPMORGAN CHASE & CO | [JPM](https://holderbook.com/stocks/JPM/) | $20.0M | 61,191 | 1.9% | 31 |
| MICROSOFT CORP | [MSFT](https://holderbook.com/stocks/MSFT/) | $16.6M | 44,413 | 1.6% | 31 |
| ALPHABET INC | [GOOGL](https://holderbook.com/stocks/GOOGL/) | $16.4M | 45,918 | 1.6% | 31 |
| ELI LILLY & CO | [LLY](https://holderbook.com/stocks/LLY/) | $15.5M | 12,959 | 1.5% | 24 |
| COSTCO WHOLESALE CORPORATION | [COST](https://holderbook.com/stocks/COST/) | $13.9M | 14,865 | 1.3% | 31 |
| RTX CORPORATION | [RTX](https://holderbook.com/stocks/RTX/) | $11.8M | 62,019 | 1.1% | 25 |
| AMAZON COM INC | [AMZN](https://holderbook.com/stocks/AMZN/) | $11.2M | 46,834 | 1.1% | 31 |
| BERKSHIRE HATHAWAY INC DEL | [BRKB](https://holderbook.com/stocks/BRKB/) | $9.9M | 19,793 | 1.0% | 15 |
| PALO ALTO NETWORKS INC | [PANW](https://holderbook.com/stocks/PANW/) | $9.7M | 28,553 | 0.9% | 14 |
| EXXONMOBIL HOLDINGS CORP COM SHS | [XOM](https://holderbook.com/stocks/XOM/) | $9.3M | 67,677 | 0.9% | 1 |
| CATERPILLAR INC | [CAT](https://holderbook.com/stocks/CAT/) | $8.9M | 8,327 | 0.9% | 31 |
| VERTEX PHARMACEUTICALS INC | [VRTX](https://holderbook.com/stocks/VRTX/) | $8.4M | 16,870 | 0.8% | 22 |
| VISA INC | [V](https://holderbook.com/stocks/V/) | $8.2M | 23,968 | 0.8% | 31 |
| VERTIV HOLDINGS CO | [VRT](https://holderbook.com/stocks/VRT/) | $8.0M | 23,823 | 0.8% | 10 |
| ABBVIE INC | [ABBV](https://holderbook.com/stocks/ABBV/) | $7.9M | 31,297 | 0.8% | 31 |
| TAIWAN SEMICONDUCTOR MANUFAC | [TSM](https://holderbook.com/stocks/TSM/) | $7.8M | 16,395 | 0.8% | 31 |
| EATON CORP PLC | [ETN](https://holderbook.com/stocks/ETN/) | $7.4M | 17,394 | 0.7% | 21 |
| GOLDMAN SACHS GROUP INC | [GS](https://holderbook.com/stocks/GS/) | $7.1M | 7,008 | 0.7% | 31 |
| ENTERPRISE PRODS PARTNERS L | [EPD](https://holderbook.com/stocks/EPD/) | $7.0M | 191,338 | 0.7% | 31 |
| JOHNSON & JOHNSON | [JNJ](https://holderbook.com/stocks/JNJ/) | $7.0M | 27,516 | 0.7% | 31 |
| BLACKROCK INC | [BLK](https://holderbook.com/stocks/BLK/) | $6.6M | 6,867 | 0.6% | 8 |
| LINDE PLC | [LIN](https://holderbook.com/stocks/LIN/) | $6.5M | 12,444 | 0.6% | 14 |
| VANGUARD INDEX FDS | [VOO](https://holderbook.com/stocks/VOO/) | $6.4M | 9,257 | 0.6% | 7 |
| DELL TECHNOLOGIES INC | [DELL](https://holderbook.com/stocks/DELL/) | $5.7M | 13,240 | 0.6% | 10 |
| NEXTERA ENERGY INC | [NEE](https://holderbook.com/stocks/NEE/) | $5.5M | 62,458 | 0.5% | 31 |
| ROCKWELL AUTOMATION INC | [ROK](https://holderbook.com/stocks/ROK/) | $5.4M | 10,843 | 0.5% | 23 |
| INTUITIVE SURGICAL INC | [ISRG](https://holderbook.com/stocks/ISRG/) | $5.1M | 12,766 | 0.5% | 18 |
| THERMO FISHER SCIENTIFIC INC | [TMO](https://holderbook.com/stocks/TMO/) | $5.0M | 9,982 | 0.5% | 31 |
| ALPHABET INC | [GOOG](https://holderbook.com/stocks/GOOG/) | $5.0M | 14,041 | 0.5% | 31 |
| TJX COS INC NEW | [TJX](https://holderbook.com/stocks/TJX/) | $4.8M | 31,845 | 0.5% | 21 |
| BAKER HUGHES COMPANY | [BKR](https://holderbook.com/stocks/BKR/) | $4.8M | 86,680 | 0.5% | 17 |
| S&P GLOBAL INC | [SPGI](https://holderbook.com/stocks/SPGI/) | $4.7M | 11,421 | 0.4% | 22 |
| MASTERCARD INCORPORATED | [MA](https://holderbook.com/stocks/MA/) | $4.6M | 8,901 | 0.4% | 31 |
| HOME DEPOT INC | [HD](https://holderbook.com/stocks/HD/) | $4.3M | 12,291 | 0.4% | 31 |
| CAPITAL ONE FINL CORP | [COF](https://holderbook.com/stocks/COF/) | $4.2M | 20,953 | 0.4% | 31 |
| MORGAN STANLEY | [MS](https://holderbook.com/stocks/MS/) | $4.2M | 20,065 | 0.4% | 24 |
| LOWES COS INC | [LOW](https://holderbook.com/stocks/LOW/) | $3.8M | 17,240 | 0.4% | 31 |
| VANGUARD INDEX FDS | [VTI](https://holderbook.com/stocks/VTI/) | $3.7M | 9,962 | 0.4% | 14 |
| DARDEN RESTAURANTS INC | [DRI](https://holderbook.com/stocks/DRI/) | $3.5M | 16,895 | 0.3% | 16 |
| UNION PAC CORP | [UNP](https://holderbook.com/stocks/UNP/) | $3.5M | 12,763 | 0.3% | 31 |
| ABBOTT LABORATORIES | [ABT](https://holderbook.com/stocks/ABT/) | $3.4M | 37,845 | 0.3% | 31 |
| SOUTHERN CO | [SO](https://holderbook.com/stocks/SO/) | $3.2M | 33,202 | 0.3% | 21 |
| CROWDSTRIKE HLDGS INC | [CRWD](https://holderbook.com/stocks/CRWD/) | $3.2M | 4,143 | 0.3% | 8 |
| WASTE MGMT INC DEL | [WM](https://holderbook.com/stocks/WM/) | $3.1M | 13,806 | 0.3% | 24 |
| ULTA BEAUTY INC | [ULTA](https://holderbook.com/stocks/ULTA/) | $3.0M | 6,690 | 0.3% | 28 |
| MARVELL TECHNOLOGY INC | [MRVL](https://holderbook.com/stocks/MRVL/) | $3.0M | 10,071 | 0.3% | 21 |
| DEERE & CO | [DE](https://holderbook.com/stocks/DE/) | $2.9M | 4,536 | 0.3% | 24 |
| ASML HLDG NV | [ASML](https://holderbook.com/stocks/ASML/) | $2.8M | 1,426 | 0.3% | 13 |
| PEPSICO INC | [PEP](https://holderbook.com/stocks/PEP/) | $2.7M | 20,225 | 0.3% | 31 |
| VANGUARD STAR FDS | [VXUS](https://holderbook.com/stocks/VXUS/) | $2.7M | 31,368 | 0.3% | 14 |
| CHEVRON CORPORATION | [CVX](https://holderbook.com/stocks/CVX/) | $2.6M | 15,784 | 0.3% | 31 |
| STATE STR SPDR S&P 500 ETF T | [SPY](https://holderbook.com/stocks/SPY/) | $2.5M | 3,397 | 0.2% | 31 |
| FIRST SOLAR INC | [FSLR](https://holderbook.com/stocks/FSLR/) | $2.5M | 10,509 | 0.2% | 22 |
| CHUBB LIMITED | [CB](https://holderbook.com/stocks/CB/) | $2.5M | 7,265 | 0.2% | 21 |
| FREEPORT-MCMORAN INC | [FCX](https://holderbook.com/stocks/FCX/) | $2.5M | 39,212 | 0.2% | 22 |
| ISHARES TR | [IJR](https://holderbook.com/stocks/IJR/) | $2.5M | 16,615 | 0.2% | 31 |
| T-MOBILE US INC | [TMUS](https://holderbook.com/stocks/TMUS/) | $2.5M | 14,661 | 0.2% | 14 |
| SYNOPSYS INC | [SNPS](https://holderbook.com/stocks/SNPS/) | $2.4M | 5,468 | 0.2% | 9 |
| META PLATFORMS INC | [META](https://holderbook.com/stocks/META/) | $2.4M | 4,272 | 0.2% | 14 |
| DATADOG INC | [DDOG](https://holderbook.com/stocks/DDOG/) | $2.4M | 9,206 | 0.2% | 5 |
| BORGWARNER INC | [BWA](https://holderbook.com/stocks/BWA/) | $2.4M | 36,018 | 0.2% | 10 |
| COCA COLA CO | [KO](https://holderbook.com/stocks/KO/) | $2.4M | 28,955 | 0.2% | 31 |
| MCDONALDS CORP | [MCD](https://holderbook.com/stocks/MCD/) | $2.3M | 8,494 | 0.2% | 31 |
| DANAHER CORP DEL | [DHR](https://holderbook.com/stocks/DHR/) | $2.3M | 11,881 | 0.2% | 31 |
| NETFLIX INC | [NFLX](https://holderbook.com/stocks/NFLX/) | $2.2M | 31,468 | 0.2% | 3 |
| AMERICAN EXPRESS CO | [AXP](https://holderbook.com/stocks/AXP/) | $2.2M | 6,601 | 0.2% | 24 |
| TEXAS INSTRS INC | [TXN](https://holderbook.com/stocks/TXN/) | $2.2M | 7,349 | 0.2% | 1 |
| INTERNATIONAL BUSINESS MACHS | [IBM](https://holderbook.com/stocks/IBM/) | $2.2M | 7,699 | 0.2% | 25 |
| DISNEY WALT CO | [DIS](https://holderbook.com/stocks/DIS/) | $2.1M | 22,282 | 0.2% | 24 |
| ICICI BANK LIMITED | [IBN](https://holderbook.com/stocks/IBN/) | $2.1M | 73,112 | 0.2% | 31 |
| VIKING HOLDINGS LTD | [VIK](https://holderbook.com/stocks/VIK/) | $2.1M | 20,250 | 0.2% | 7 |
| WALMART INC | [WMT](https://holderbook.com/stocks/WMT/) | $1.9M | 16,621 | 0.2% | 26 |
| CISCO SYS INC | [CSCO](https://holderbook.com/stocks/CSCO/) | $1.9M | 15,758 | 0.2% | 24 |
| MCKESSON CORP | [MCK](https://holderbook.com/stocks/MCK/) | $1.7M | 2,306 | 0.2% | 22 |
| ACCENTURE PLC IRELAND | [ACN](https://holderbook.com/stocks/ACN/) | $1.7M | 13,982 | 0.2% | 31 |
| AMERICAN TOWER CORP | [AMT](https://holderbook.com/stocks/AMT/) | $1.7M | 10,619 | 0.2% | 31 |
| HONEYWELL INTL INC | [HON](https://holderbook.com/stocks/HON/) | $1.7M | 7,547 | 0.2% | 1 |
| ORACLE CORP | [ORCL](https://holderbook.com/stocks/ORCL/) | $1.7M | 11,520 | 0.2% | 22 |
| STARBUCKS CORP | [SBUX](https://holderbook.com/stocks/SBUX/) | $1.6M | 16,137 | 0.2% | 31 |
| HONEYWELL AEROSPACE INC | [HONA](https://holderbook.com/stocks/HONA/) | $1.6M | 7,035 | 0.2% | 1 |
| TRACTOR SUPPLY CO | [TSCO](https://holderbook.com/stocks/TSCO/) | $1.5M | 48,815 | 0.1% | 16 |
| VANGUARD INDEX FDS | [VOT](https://holderbook.com/stocks/VOT/) | $1.5M | 5,000 | 0.1% | 31 |
| WELLTOWER INC | [WELL](https://holderbook.com/stocks/WELL/) | $1.5M | 6,392 | 0.1% | 10 |
| INVESCO EXCHANGE TRADED FD T | [RSP](https://holderbook.com/stocks/RSP/) | $1.4M | 6,692 | 0.1% | 21 |
| MICRON TECHNOLOGY INC | [MU](https://holderbook.com/stocks/MU/) | $1.4M | 1,227 | 0.1% | 4 |
| BLACKSTONE INC | [BX](https://holderbook.com/stocks/BX/) | $1.4M | 12,009 | 0.1% | 29 |
| VANGUARD INDEX FDS | [VBR](https://holderbook.com/stocks/VBR/) | $1.4M | 5,715 | 0.1% | 25 |
| MONDELEZ INTL INC | [MDLZ](https://holderbook.com/stocks/MDLZ/) | $1.4M | 23,539 | 0.1% | 31 |
| METTLER TOLEDO INTERNATIONAL | [MTD](https://holderbook.com/stocks/MTD/) | $1.3M | 1,047 | 0.1% | 31 |
| RYANAIR HOLDINGS PLC | [RYAAY](https://holderbook.com/stocks/RYAAY/) | $1.3M | 20,367 | 0.1% | 31 |
| TRANE TECHNOLOGIES PLC | [TT](https://holderbook.com/stocks/TT/) | $1.3M | 2,670 | 0.1% | 26 |
| DIAMONDBACK ENERGY INC | [FANG](https://holderbook.com/stocks/FANG/) | $1.2M | 7,103 | 0.1% | 15 |
| EDWARDS LIFESCIENCES CORP | [EW](https://holderbook.com/stocks/EW/) | $1.2M | 13,730 | 0.1% | 5 |
| AIR PRODUCTS AND CHEMICALS I | [APD](https://holderbook.com/stocks/APD/) | $1.2M | 4,030 | 0.1% | 31 |
| AXALTA COATING SYS LTD | [AXTA](https://holderbook.com/stocks/AXTA/) | $1.2M | 34,322 | 0.1% | 7 |

## What the disclosed book did

Not the fund's return. This is the change in value of the positions disclosed on Form 13F, had they been left untouched, against SPY over the same quarter ends.

| Quarter | Book | Market | Difference | Priced |
|---|---|---|---|---|
| Q2 2026 | +10.1% | +14.8% | -4.7% | 100% |
| Q1 2026 | -3.5% | -4.6% | +1.1% | 100% |
| Q4 2025 | +1.9% | +2.4% | -0.4% | 100% |
| Q3 2025 | +5.2% | +7.8% | -2.6% | 100% |
| Q2 2025 | -0.4% | +10.5% | -10.8% | 100% |
| Q4 2024 | -0.8% | +2.1% | -3.0% | 100% |
| Q3 2024 | +9.1% | +5.4% | +3.7% | 100% |
| Q2 2024 | -0.3% | +4.0% | -4.4% | 100% |

## Quarter by quarter

| Quarter | Value | Positions |
|---|---|---|
| Q2 2026 | $1.0B | 231 |
| Q1 2026 | $855.7M | 210 |
| Q4 2025 | $885.8M | 207 |
| Q3 2025 | $873.4M | 207 |
| Q2 2025 | $828.4M | 209 |
| Q1 2025 | $831.9M | 200 |
| Q4 2024 | $767.9M | 199 |
| Q3 2024 | $797.9M | 213 |
| Q2 2024 | $730.2M | 205 |
| Q1 2024 | $737.3M | 209 |
| Q4 2023 | $639.8M | 203 |
| Q3 2023 | $598.1M | 192 |