Baldwin Investment Management, LLC
In its 13F for Q2 2024 (holdings as of June 30, 2024, filed July 30, 2024), Baldwin Investment Management, LLC reported 205 stock positions worth $730.2 million. Its top holding was Berkshire Hathaway Class A (BRK.A) at 46.8% of the portfolio, followed by Microsoft (MSFT, 2.4%) and Apple (AAPL, 2.1%). Compared with Q1 2024, it opened 5 new positions, sold out of 9, added to 61 and reduced 104. The biggest buy was Exxon Mobil (XOM, shares +80%) and the biggest sale Berkshire Hathaway Class A (BRK.A, shares −1%).
- Most Recent 13F
- Q2 2026
- Location
- WEST CONSHOHOCKEN, PA
- CIK
- 0001346378
- Portfolio Value
- $730.2M (Q2 2024)
- SEC Filing
- 0001346378-24-000003 ↗ filed Jul 30, 2024
Holdings Value
Holdings 205 stocks · $730.2M
| BRK.A Berkshire Hathaway Inc. Class A | 46.79% | 558 | $341.6M | Reduce -0.5% |
| MSFT Microsoft Corp. | 2.44% | 39,826 | $17.8M | Add +0.8% |
| AAPL Apple Inc. | 2.13% | 73,919 | $15.6M | Reduce -1.2% |
| NVDA Nvidia Corp. | 1.94% | 114,602 | $14.2M | Reduce -0.7% |
| AVGO Broadcom Inc. | 1.81% | 8,228 | $13.2M | Reduce -0.6% |
| LRCX Lam Research Corp. | 1.47% | 10,112 | $10.8M | Reduce -0.2% |
| JPM JPMorgan Chase & Co. | 1.46% | 52,782 | $10.7M | Reduce -0.3% |
| COST Costco Wholesale Corp. | 1.17% | 10,073 | $8.6M | Reduce -2.0% |
| BRK.B Berkshire Hathaway Inc. Class B | 1.15% | 20,681 | $8.4M | Add +4.1% |
| LLY Eli Lilly & Co. | 1.01% | 8,159 | $7.4M | Add +0.1% |
| AMZN Amazon.com Inc. | 0.97% | 36,485 | $7.1M | Reduce -0.1% |
| GOOGL Alphabet Inc. Class A | 0.88% | 35,145 | $6.4M | Reduce -0.4% |
| LIN Linde PLC | 0.83% | 13,886 | $6.1M | Reduce -0.9% |
| EPD Enterprise Products Partners | 0.79% | 199,081 | $5.8M | Add +0.5% |
| XOM Exxon Mobil Corp. | 0.79% | 49,858 | $5.7M | Add +79.7% |
| VRTX Vertex Pharmaceuticals Inc. | 0.75% | 11,756 | $5.5M | Add +13.6% |
| ABBV Abbvie Inc. | 0.74% | 31,468 | $5.4M | Add +0.5% |
| ZTS Zoetis Inc. | 0.73% | 30,898 | $5.4M | Add +14.3% |
| V Visa Inc. Class A | 0.67% | 18,547 | $4.9M | Reduce -1.7% |
| TMO Thermo Fisher Scientific Inc. | 0.60% | 7,868 | $4.4M | Add +1.3% |
| SPGI S&P Global Inc. | 0.58% | 9,565 | $4.3M | Reduce -0.9% |
| ISRG Intuitive Surgical Inc. | 0.58% | 9,585 | $4.3M | Add +7.5% |
| HD Home Depot Inc. | 0.56% | 11,871 | $4.1M | Reduce -0.3% |
| DHR Danaher Corp. | 0.56% | 16,274 | $4.1M | Reduce -4.9% |
| BLK BlackRock Finance Inc. | 0.55% | 5,072 | $4.0M | Reduce -2.1% |
| SPY SS SPDR S&P 500 ETF Trust-US | 0.53% | 7,135 | $3.9M | Reduce -1.4% |
| ACN Accenture PLC Class A | 0.53% | 12,652 | $3.8M | Add +3.3% |
| RTX RTX Corp. | 0.50% | 36,703 | $3.7M | Add +0.0% |
| GS Goldman Sachs Group Inc. | 0.49% | 7,910 | $3.6M | Reduce -3.4% |
| UNP Union Pacific Corp. | 0.49% | 15,789 | $3.6M | Add +0.2% |
| ADBE Adobe Inc. | 0.49% | 6,390 | $3.5M | Reduce -13.4% |
| ABT Abbott Laboratories | 0.48% | 33,513 | $3.5M | Add +0.7% |
| CAT Caterpillar Inc. | 0.46% | 10,053 | $3.3M | No change |
| FISV Fiserv Inc. | 0.45% | 21,945 | $3.3M | Reduce -0.1% |
| NVO Novo-Nordisk A/S-Spons ADR | 0.43% | 22,180 | $3.2M | Reduce -2.0% |
| GOOG Alphabet Inc. Class C | 0.42% | 16,880 | $3.1M | Reduce -0.1% |
| TSCO Tractor Supply Company | 0.42% | 11,364 | $3.1M | Reduce -1.0% |
| ETN Eaton Corp. PLC | 0.42% | 9,748 | $3.1M | Reduce -0.4% |
| JNJ Johnson & Johnson | 0.41% | 20,258 | $3.0M | Reduce -7.4% |
| TSM Taiwan Semiconductor-SP ADR | 0.38% | 16,016 | $2.8M | Reduce -2.1% |
| PANW Palo Alto Networks Inc. | 0.37% | 7,944 | $2.7M | Reduce -5.6% |
| WM Waste Management Inc. | 0.36% | 12,391 | $2.6M | Add +2.1% |
| AMT American Tower Corp. | 0.36% | 13,451 | $2.6M | Reduce -1.1% |
| STZ Constellation Brands Inc. Class A | 0.36% | 10,119 | $2.6M | Reduce -0.6% |
| NEE Nextera Energy Inc. | 0.34% | 35,040 | $2.5M | Add +2.0% |
| ULTA Ulta Beauty Inc. | 0.34% | 6,395 | $2.5M | Add +23.1% |
| MS Morgan Stanley | 0.32% | 24,380 | $2.4M | Reduce -3.9% |
| PEP Pepsico Inc. | 0.32% | 14,309 | $2.4M | Reduce -4.7% |
| LOW Lowe's Cos Inc. | 0.32% | 10,581 | $2.3M | No change |
| BWA Borgwarner Inc. | 0.31% | 71,255 | $2.3M | Add +47.1% |
| BX Blackstone Inc. | 0.29% | 17,117 | $2.1M | Add +0.3% |
| BSY Bentley Systems Inc. Class B | 0.29% | 42,285 | $2.1M | Add +28.5% |
| FTV Fortive Corp. | 0.28% | 27,729 | $2.1M | Add +19.0% |
| KMB Kimberly-Clark Corp. | 0.27% | 14,407 | $2.0M | Add +13.8% |
| IJR iShares Core S&P Small-Cap E | 0.27% | 18,140 | $1.9M | Reduce -1.1% |
| TMUS T-Mobile US Inc. | 0.25% | 10,530 | $1.9M | Add +2.5% |
| NXPI NXP Semiconductors NV | 0.25% | 6,887 | $1.9M | Reduce -0.2% |
| ICE Intercontinental Exchange Inc. | 0.25% | 13,427 | $1.8M | No change |
| MCD McDonald's Corp. | 0.25% | 7,136 | $1.8M | Add +2.1% |
| MTD Mettler-Toledo International | 0.25% | 1,291 | $1.8M | Reduce -0.1% |
| NKE Nike Inc. Class B | 0.24% | 23,393 | $1.8M | Reduce -3.1% |
| DE Deere & Co. | 0.24% | 4,608 | $1.7M | Add +1.1% |
| COF Capital One Financial Corp. | 0.23% | 12,145 | $1.7M | Reduce -3.3% |
| RSP Invesco S&P 500 Equal Weight | 0.23% | 10,182 | $1.7M | Reduce -1.1% |
| CBT Cabot Corp. | 0.23% | 18,184 | $1.7M | Reduce -23.0% |
| TJX TJX Companies Inc. filed as TJX COS INC NEW | 0.23% | 15,175 | $1.7M | Reduce -5.8% |
| IBN Icici Bank Ltd.-Spon ADR | 0.23% | 57,476 | $1.7M | Reduce -3.8% |
| FSLR First Solar Inc. | 0.22% | 7,110 | $1.6M | Reduce -5.3% |
| CVX Chevron Corp. | 0.22% | 10,216 | $1.6M | Add +2.3% |
| VXUS Vanguard Total Intl Stock | 0.21% | 25,650 | $1.5M | Reduce -0.1% |
| IBM Intl Business Machines Corp. filed as INTERNATIONAL BUSINESS MACHS | 0.20% | 8,549 | $1.5M | Add +2.4% |
| VTI VG Morningstar TS MKT ETF-US | 0.20% | 5,519 | $1.5M | Add +0.4% |
| LHX L3HARRIS Technologies Inc. | 0.20% | 6,537 | $1.5M | Reduce -4.7% |
| INFY Infosys Ltd.-SP ADR | 0.20% | 78,356 | $1.5M | Reduce -0.2% |
| VMC Vulcan Materials Co. | 0.20% | 5,864 | $1.5M | No change |
| DRI Darden Restaurants Inc. | 0.20% | 9,533 | $1.4M | Reduce -11.2% |
| HON Honeywell International Inc. | 0.19% | 6,534 | $1.4M | Reduce -36.9% |
| UNH Unitedhealth Group Inc. | 0.19% | 2,726 | $1.4M | Reduce -3.8% |
| CB Chubb Ltd. | 0.19% | 5,441 | $1.4M | Reduce -0.2% |
| MDLZ Mondelez International Inc. Class A | 0.19% | 21,186 | $1.4M | Reduce -7.3% |
| FANG Diamondback Energy Inc. | 0.19% | 6,925 | $1.4M | Add +3.6% |
| ADSK Autodesk Inc. | 0.19% | 5,595 | $1.4M | Reduce -30.2% |
| SNPS Synopsys Inc. | 0.19% | 2,291 | $1.4M | New |
| SCHD Schwab US DVD Equity ETF | 0.18% | 17,273 | $1.3M | Add +0.7% |
| VOE Vngrd Mrngstr MD-Cap Val ETF | 0.18% | 8,913 | $1.3M | No change |
| INDA iShares MSCI India ETF | 0.18% | 23,753 | $1.3M | Add +7.8% |
| J Jacobs Solutions Inc. | 0.18% | 9,425 | $1.3M | Reduce -6.7% |
| PLD Prologis Inc. | 0.18% | 11,699 | $1.3M | Reduce -30.7% |
| VOT Vngrd Mrngstr MC GRW ETF-Usd | 0.18% | 5,684 | $1.3M | No change |
| LMT Lockheed Martin Corp. | 0.17% | 2,719 | $1.3M | Reduce -1.5% |
| FCX Freeport-McMoran Inc. | 0.17% | 25,457 | $1.2M | Add +1.3% |
| NUE Nucor Corp. | 0.16% | 7,595 | $1.2M | Add +9.6% |
| VBR Vngrd Mrngst SL-CP Val ETF-U | 0.16% | 6,505 | $1.2M | Reduce -0.1% |
| CTVA Corteva Inc. | 0.16% | 21,187 | $1.1M | Reduce -10.6% |
| PG The Procter & Gamble Co. | 0.16% | 6,884 | $1.1M | Reduce -0.2% |
| ARCC Ares Capital Corp. | 0.15% | 54,287 | $1.1M | Reduce -0.1% |
| TT Trane Technologies PLC | 0.15% | 3,420 | $1.1M | Reduce -4.2% |
| YUM Yum! Brands Inc. | 0.15% | 8,452 | $1.1M | Reduce -1.2% |
| MCK McKesson Corp. | 0.15% | 1,897 | $1.1M | Reduce -1.4% |
| ORCL Oracle Corp. | 0.15% | 7,762 | $1.1M | Add +3.8% |
Portfolio Sells Q1 2024 → Q2 2024
| BRK.A Berkshire Hathaway Inc. Class A | Reduce -0.5% | 46.79% | −1.48 |
| PXD Pioneer Natural Resources Co. | Sold out | 0.00% | −0.35 |
| PLD Prologis Inc. | Reduce -30.7% | 0.18% | −0.12 |
| SBUX Starbucks Corp. | Reduce -35.0% | 0.15% | −0.11 |
| HON Honeywell International Inc. | Reduce -36.9% | 0.19% | −0.10 |
| ADSK Autodesk Inc. | Reduce -30.2% | 0.19% | −0.09 |
| MTN Vail Resorts Inc. | Sold out | 0.00% | −0.09 |
| CBT Cabot Corp. | Reduce -23.0% | 0.23% | −0.07 |
| NKE Nike Inc. Class B | Reduce -3.1% | 0.24% | −0.07 |
| JNJ Johnson & Johnson | Reduce -7.4% | 0.41% | −0.06 |
| BMY Bristol-Myers Squibb Co. | Reduce -32.2% | 0.07% | −0.06 |
| HD Home Depot Inc. | Reduce -0.3% | 0.56% | −0.06 |
| CMCSA Comcast Corp. Class A | Reduce -32.2% | 0.09% | −0.06 |
| WYNN WYNN Resorts Ltd. | Sold out | 0.00% | −0.06 |
| CVS CVS Health Corp. | Sold out | 0.00% | −0.05 |
| LIN Linde PLC | Reduce -0.9% | 0.83% | −0.05 |
| V Visa Inc. Class A | Reduce -1.7% | 0.67% | −0.05 |
| DRI Darden Restaurants Inc. | Reduce -11.2% | 0.20% | −0.05 |
| KHC The Kraft Heinz Co. | Sold out | 0.00% | −0.04 |
| ON On Semiconductor | Reduce -51.8% | 0.03% | −0.04 |
| BLK BlackRock Finance Inc. | Reduce -2.1% | 0.55% | −0.04 |
| RYAAY Ryanair Holdings PLC-SP ADR | Reduce -2.7% | 0.14% | −0.04 |
| ROK Rockwell Automation Inc. | Reduce -20.2% | 0.12% | −0.04 |
| PEP Pepsico Inc. | Reduce -4.7% | 0.32% | −0.03 |
| J Jacobs Solutions Inc. | Reduce -6.7% | 0.18% | −0.03 |
| VLO Valero Energy Corp. | Sold out | 0.00% | −0.03 |
| CTVA Corteva Inc. | Reduce -10.6% | 0.16% | −0.03 |
| FISV Fiserv Inc. | Reduce -0.1% | 0.45% | −0.03 |
| CSCO Cisco Systems Inc. | Reduce -24.4% | 0.07% | −0.03 |
| CDW CDW Corp. | Sold out | 0.00% | −0.03 |
| TGT Target Corp. | Sold out | 0.00% | −0.03 |
| VBK Van Morst SML-Cap Gro-Usd Inc. | Sold out | 0.00% | −0.03 |
| MDLZ Mondelez International Inc. Class A | Reduce -7.3% | 0.19% | −0.03 |
| ADP Automatic Data Processing | Reduce -17.1% | 0.10% | −0.02 |
| DIS The Walt Disney Co. | Reduce -1.0% | 0.10% | −0.02 |
| COF Capital One Financial Corp. | Reduce -3.3% | 0.23% | −0.02 |
| GXO Gxo Logistics Inc. | Reduce -27.0% | 0.05% | −0.02 |
| PAYX Paychex Inc. | Reduce -33.8% | 0.04% | −0.02 |
| DHR Danaher Corp. | Reduce -4.9% | 0.56% | −0.02 |
| ADBE Adobe Inc. | Reduce -13.4% | 0.49% | −0.02 |
| CME Cme Group Inc. | Reduce -3.7% | 0.15% | −0.02 |
| STZ Constellation Brands Inc. Class A | Reduce -0.6% | 0.36% | −0.02 |
| SCHA Schwab US Small-Cap ETF | Reduce -11.5% | 0.09% | −0.01 |
| GEHC GE Healthcare Technology | Reduce -4.7% | 0.06% | −0.01 |
| SHOP Shopify Inc. Class A | Reduce -0.1% | 0.08% | −0.01 |
| NSP Insperity Inc. | Reduce -0.1% | 0.06% | −0.01 |
| CTRA Coterra Energy Inc. | Reduce -4.3% | 0.14% | −0.01 |
| MRVL Marvell Technology Inc. | Reduce -6.6% | 0.15% | −0.01 |
| IJR iShares Core S&P Small-Cap E | Reduce -1.1% | 0.27% | −0.01 |
| ITW Illinois Tool Works | Reduce -6.9% | 0.04% | −0.01 |
Portfolio Buys Q1 2024 → Q2 2024
| XOM Exxon Mobil Corp. | Add +79.7% | 0.79% | +0.35 |
| SNPS Synopsys Inc. | New | 0.19% | +0.19 |
| MSFT Microsoft Corp. | Add +0.8% | 2.44% | +0.18 |
| VRTX Vertex Pharmaceuticals Inc. | Add +13.6% | 0.75% | +0.17 |
| LLY Eli Lilly & Co. | Add +0.1% | 1.01% | +0.15 |
| ZTS Zoetis Inc. | Add +14.3% | 0.73% | +0.11 |
| ISRG Intuitive Surgical Inc. | Add +7.5% | 0.58% | +0.10 |
| BWA Borgwarner Inc. | Add +47.1% | 0.31% | +0.09 |
| BSY Bentley Systems Inc. Class B | Add +28.5% | 0.29% | +0.05 |
| KMB Kimberly-Clark Corp. | Add +13.8% | 0.27% | +0.05 |
| NEE Nextera Energy Inc. | Add +2.0% | 0.34% | +0.04 |
| SO The Southern Co. | Add +31.6% | 0.13% | +0.04 |
| IMCR Immunocore Holdings PLC-ADR | New | 0.03% | +0.03 |
| PEG Public Service Enterprise GP | New | 0.03% | +0.03 |
| CAVA Cava Group Inc. | New | 0.03% | +0.03 |
| ADI Analog Devices Inc. | New | 0.03% | +0.03 |
| INDA iShares MSCI India ETF | Add +7.8% | 0.18% | +0.03 |
| TMUS T-Mobile US Inc. | Add +2.5% | 0.25% | +0.03 |
| ORCL Oracle Corp. | Add +3.8% | 0.15% | +0.02 |
| DELL Dell Technologies -C | Add +15.2% | 0.07% | +0.02 |
| BRK.B Berkshire Hathaway Inc. Class B | Add +4.1% | 1.15% | +0.02 |
| RTX RTX Corp. | Add +0.0% | 0.50% | +0.02 |
| BEP Brookfield Renewable Partner | Add +11.9% | 0.10% | +0.02 |
| META Meta Platforms Inc. Class A | Add +10.2% | 0.12% | +0.02 |
| CMI Cummins Inc. | Add +30.6% | 0.08% | +0.02 |
| VRT Vertiv Holdings Co. Class A | Add +6.1% | 0.12% | +0.01 |
| SKX Skechers USA Inc. Class A | Add +2.0% | 0.10% | +0.01 |
| WELL Welltower Inc. | Add +13.6% | 0.05% | +0.01 |
| BSX Boston Scientific Corp. | Add +2.7% | 0.08% | +0.01 |
| SHW The Sherwin-Williams Co. | Add +41.1% | 0.06% | +0.01 |
| WM Waste Management Inc. | Add +2.1% | 0.36% | +0.01 |
| ASML ASML Holding NV-NY Reg SHS | Add +3.9% | 0.11% | +0.01 |
| FANG Diamondback Energy Inc. | Add +3.6% | 0.19% | +0.01 |
| FTV Fortive Corp. | Add +19.0% | 0.28% | +0.01 |
| FCX Freeport-McMoran Inc. | Add +1.3% | 0.17% | +0.01 |
| VTI VG Morningstar TS MKT ETF-US | Add +0.4% | 0.20% | +0.01 |
| CL Colgate-Palmolive Co. | Add +6.0% | 0.06% | +0.01 |
| TECK Teck Resources Ltd.-CLS B | Add +14.1% | 0.04% | +0.01 |
| DUK Duke Energy Corp. | Add +0.8% | 0.12% | +0.01 |
| EPD Enterprise Products Partners | Add +0.5% | 0.79% | +0.01 |
| CVX Chevron Corp. | Add +2.3% | 0.22% | +0.01 |
| KO The Coca-Cola Co. | Add +0.7% | 0.08% | +0.00 |
| CSX CSX Corp. | Add +20.9% | 0.04% | +0.00 |
| VWO Vanguard Ftse Emerging Marke | Add +0.0% | 0.05% | +0.00 |
| VIG Vanguard Dividend Apprec ETF | Add +0.3% | 0.13% | +0.00 |
| PFE Pfizer Inc. | Add +0.7% | 0.06% | +0.00 |
| EWJ iShares MSCI Japan ETF | Add +5.0% | 0.08% | +0.00 |
| VEA Vanguard Ftse Developed ETF | Add +1.7% | 0.05% | +0.00 |
| OTIS Otis Worldwide Corp. | Add +2.1% | 0.10% | 0.00 |
| SYLD Cambria Shareholder Yield Et | Add +5.3% | 0.03% | −0.00 |
All Filings
| Quarter | Positions | 13F Reported Value | Top Holdings |
|---|---|---|---|
| Q2 2026 | 231 | $1.0B | BRK.A, LRCX, AAPL, AVGO, NVDA |
| Q1 2026 | 210 | $855.7M | BRK.A, AVGO, NVDA, LRCX, AAPL |
| Q4 2025 | 207 | $885.8M | BRK.A, AVGO, NVDA, AAPL, LRCX |
| Q3 2025 | 207 | $873.4M | BRK.A, AVGO, NVDA, AAPL, MSFT |
| Q2 2025 | 209 | $828.4M | BRK.A, AVGO, NVDA, MSFT, AAPL |
| Q1 2025 | 200 | $831.9M | BRK.A, AAPL, NVDA, AVGO, MSFT |
| Q4 2024 | 199 | $767.9M | BRK.A, AVGO, AAPL, NVDA, MSFT |
| Q3 2024 | 213 | $797.9M | BRK.A, MSFT, AAPL, NVDA, AVGO |
| Q2 2024 | 205 | $730.2M | BRK.A, MSFT, AAPL, NVDA, AVGO |
| Q1 2024 | 209 | $737.3M | BRK.A, MSFT, AAPL, AVGO, JPM |