Baldwin Investment Management, LLC
In its 13F for Q3 2024 (holdings as of September 30, 2024, filed November 13, 2024), Baldwin Investment Management, LLC reported 213 stock positions worth $797.9 million. Its top holding was 1/100 Berkshire HTWY A Class A (BRK.A) at 48.3% of the portfolio, followed by Microsoft (MSFT, 2.2%) and Apple (AAPL, 2.1%). Compared with Q2 2024, it opened 13 new positions, sold out of 6, added to 55 and reduced 93. The biggest buy was a new position in 1/100 Berkshire HTWY A Class A (BRK.A) and the biggest sale an exit from Berkshire Hathaway Class A (BRK.A).
- Most Recent 13F
- Q2 2026
- Location
- WEST CONSHOHOCKEN, PA
- CIK
- 0001346378
- Portfolio Value
- $797.9M (Q3 2024)
- SEC Filing
- 0001346378-24-000009 ↗ filed Nov 13, 2024
Holdings Value
Holdings 213 stocks · $797.9M
| BRK.A 1/100 Berkshire HTWY A Class A | 48.34% | 55,800 | $385.7M | New |
| MSFT Microsoft Corp. | 2.20% | 40,829 | $17.6M | Add +2.5% |
| AAPL Apple Inc. | 2.15% | 73,567 | $17.1M | Reduce -0.5% |
| NVDA Nvidia Corp. | 1.84% | 120,981 | $14.7M | Add +5.6% |
| AVGO Broadcom Inc. | 1.76% | 81,378 | $14.0M | Reduce -1.1% |
| JPM JPMorgan Chase & Co. | 1.37% | 51,922 | $10.9M | Reduce -1.6% |
| BRK.B Berkshire Hathaway Inc. Class B | 1.15% | 19,904 | $9.2M | Reduce -3.8% |
| COST Costco Wholesale Corp. | 1.09% | 9,855 | $8.7M | Reduce -2.2% |
| LRCX Lam Research Corp. | 1.05% | 10,249 | $8.4M | New |
| AMZN Amazon.com Inc. | 0.98% | 42,135 | $7.9M | Add +15.5% |
| LLY Eli Lilly & Co. | 0.93% | 8,354 | $7.4M | Add +2.4% |
| LIN Linde PLC | 0.82% | 13,651 | $6.5M | Reduce -1.7% |
| ABBV Abbvie Inc. | 0.75% | 30,451 | $6.0M | Reduce -3.2% |
| XOM Exxon Mobil Corp. | 0.74% | 50,310 | $5.9M | Add +0.9% |
| ZTS Zoetis Inc. | 0.73% | 29,958 | $5.9M | Reduce -3.0% |
| EPD Enterprise Products Partners | 0.72% | 198,533 | $5.8M | Reduce -0.3% |
| GOOGL Alphabet Inc. Class A | 0.72% | 34,711 | $5.8M | Reduce -1.2% |
| VRTX Vertex Pharmaceuticals Inc. | 0.69% | 11,891 | $5.5M | Add +1.1% |
| V Visa Inc. Class A | 0.63% | 18,352 | $5.0M | Reduce -1.1% |
| SPGI S&P Global Inc. | 0.62% | 9,596 | $5.0M | Add +0.3% |
| TMO Thermo Fisher Scientific Inc. | 0.60% | 7,760 | $4.8M | Reduce -1.4% |
| ISRG Intuitive Surgical Inc. | 0.60% | 9,743 | $4.8M | Add +1.6% |
| BLK BlackRock Inc. | 0.59% | 4,958 | $4.7M | Reduce -2.3% |
| HD Home Depot Inc. | 0.58% | 11,457 | $4.6M | Reduce -3.5% |
| ACN Accenture PLC Class A | 0.57% | 12,950 | $4.6M | Add +2.4% |
| DHR Danaher Corp. | 0.55% | 15,926 | $4.4M | Reduce -2.1% |
| RTX RTX Corp. | 0.55% | 36,377 | $4.4M | Reduce -0.9% |
| SPY SS SPDR S&P 500 ETF Trust-US | 0.51% | 7,147 | $4.1M | Add +0.2% |
| ABT Abbott Laboratories | 0.49% | 34,165 | $3.9M | Add +1.9% |
| GS Goldman Sachs Group Inc. | 0.49% | 7,861 | $3.9M | Reduce -0.6% |
| UNP Union Pacific Corp. | 0.48% | 15,624 | $3.9M | Reduce -1.1% |
| FISV Fiserv Inc. | 0.48% | 21,345 | $3.8M | Reduce -2.7% |
| CAT Caterpillar Inc. | 0.48% | 9,751 | $3.8M | Reduce -3.0% |
| ETN Eaton Corp. PLC | 0.43% | 10,287 | $3.4M | Add +5.5% |
| TSCO Tractor Supply Company | 0.42% | 11,402 | $3.3M | Add +0.3% |
| ADBE Adobe Inc. | 0.40% | 6,199 | $3.2M | Reduce -3.0% |
| JNJ Johnson & Johnson | 0.40% | 19,483 | $3.2M | Reduce -3.8% |
| AMT American Tower Corp. | 0.39% | 13,321 | $3.1M | Reduce -1.0% |
| NEE Nextera Energy Inc. | 0.37% | 35,357 | $3.0M | Add +0.9% |
| BWA Borgwarner Inc. | 0.37% | 81,504 | $3.0M | Add +14.4% |
| TSM Taiwan Semiconductor-SP ADR | 0.35% | 16,216 | $2.8M | Add +1.3% |
| GOOG Alphabet Inc. Class C | 0.35% | 16,600 | $2.8M | Reduce -1.7% |
| PANW Palo Alto Networks Inc. | 0.34% | 8,027 | $2.7M | Add +1.0% |
| LOW Lowe's Cos Inc. | 0.34% | 9,981 | $2.7M | Reduce -5.7% |
| NVO Novo-Nordisk A/S-Spons ADR | 0.33% | 22,180 | $2.6M | No change |
| SNPS Synopsys Inc. | 0.33% | 5,151 | $2.6M | Add +124.8% |
| BX Blackstone Inc. | 0.32% | 16,922 | $2.6M | Reduce -1.1% |
| FSLR First Solar Inc. | 0.30% | 9,739 | $2.4M | Add +37.0% |
| WM Waste Management Inc. | 0.30% | 11,641 | $2.4M | Reduce -6.0% |
| ULTA Ulta Beauty Inc. | 0.30% | 6,111 | $2.4M | Reduce -4.4% |
| KMB Kimberly-Clark Corp. | 0.29% | 16,397 | $2.3M | Add +13.8% |
| MS Morgan Stanley | 0.29% | 22,347 | $2.3M | Reduce -8.3% |
| PEP Pepsico Inc. | 0.29% | 13,499 | $2.3M | Reduce -5.7% |
| STZ Constellation Brands Inc. Class A | 0.29% | 8,870 | $2.3M | Reduce -12.3% |
| TMUS T-Mobile US Inc. | 0.27% | 10,565 | $2.2M | Add +0.3% |
| ICE Intercontinental Exchange Inc. | 0.27% | 13,527 | $2.2M | Add +0.7% |
| IJR iShares Core S&P Small-Cap E | 0.26% | 17,920 | $2.1M | Reduce -1.2% |
| VTI VG Morningstar TS MKT ETF-US | 0.26% | 7,325 | $2.1M | Add +32.7% |
| NKE Nike Inc. Class B | 0.26% | 23,044 | $2.0M | Reduce -1.5% |
| MCD McDonald's Corp. | 0.25% | 6,466 | $2.0M | Reduce -9.4% |
| VRT Vertiv Holdings Co. Class A | 0.24% | 19,509 | $1.9M | Add +86.3% |
| MTD Mettler-Toledo International | 0.24% | 1,291 | $1.9M | No change |
| FTV Fortive Corp. | 0.24% | 24,468 | $1.9M | Reduce -11.8% |
| IBM Intl Business Machines Corp. filed as INTERNATIONAL BUSINESS MACHS | 0.24% | 8,549 | $1.9M | No change |
| COF Capital One Financial Corp. | 0.23% | 12,215 | $1.8M | Add +0.6% |
| INFY Infosys Ltd.-SP ADR | 0.22% | 78,356 | $1.7M | No change |
| IBN Icici Bank Ltd.-Spon ADR | 0.21% | 57,476 | $1.7M | No change |
| VXUS Vanguard Total Intl Stock | 0.21% | 26,464 | $1.7M | Add +3.2% |
| TJX TJX Companies Inc. filed as TJX COS INC NEW | 0.21% | 14,400 | $1.7M | Reduce -5.1% |
| FCX Freeport-McMoran Inc. | 0.21% | 33,081 | $1.7M | Add +29.9% |
| UNH Unitedhealth Group Inc. | 0.21% | 2,800 | $1.6M | Add +2.7% |
| LMT Lockheed Martin Corp. | 0.20% | 2,783 | $1.6M | Add +2.4% |
| BSY Bentley Systems Inc. Class B | 0.20% | 31,935 | $1.6M | Reduce -24.5% |
| NXPI NXP Semiconductors NV | 0.20% | 6,707 | $1.6M | Reduce -2.6% |
| MDLZ Mondelez International Inc. Class A | 0.19% | 20,676 | $1.5M | Reduce -2.4% |
| CB Chubb Ltd. | 0.19% | 5,201 | $1.5M | Reduce -4.4% |
| VOE Vngrd Mrngstr MD-Cap Val ETF | 0.19% | 8,916 | $1.5M | Add +0.0% |
| VMC Vulcan Materials Co. | 0.18% | 5,764 | $1.4M | Reduce -1.7% |
| CVX Chevron Corp. | 0.18% | 9,744 | $1.4M | Reduce -4.6% |
| CBT Cabot Corp. | 0.18% | 12,555 | $1.4M | Reduce -31.0% |
| PLD Prologis Inc. | 0.17% | 10,967 | $1.4M | Reduce -6.3% |
| VOT Vngrd Mrngstr MC GRW ETF-Usd | 0.17% | 5,684 | $1.4M | No change |
| INDA iShares MSCI India ETF | 0.17% | 23,203 | $1.4M | Reduce -2.3% |
| FANG Diamondback Energy Inc. | 0.17% | 7,822 | $1.3M | Add +12.9% |
| ORCL Oracle Corp. | 0.17% | 7,912 | $1.3M | Add +1.9% |
| HON Honeywell International Inc. | 0.17% | 6,453 | $1.3M | Reduce -1.2% |
| DRI Darden Restaurants Inc. | 0.17% | 8,103 | $1.3M | Reduce -15.0% |
| TT Trane Technologies PLC | 0.16% | 3,370 | $1.3M | Reduce -1.5% |
| LHX L3HARRIS Technologies Inc. | 0.16% | 5,427 | $1.3M | Reduce -17.0% |
| SBUX Starbucks Corp. | 0.16% | 13,228 | $1.3M | Reduce -3.2% |
| SCHD Schwab US DVD Equity ETF | 0.16% | 15,031 | $1.3M | Reduce -13.0% |
| CARR Carrier Global Corp. | 0.16% | 15,775 | $1.3M | Add +0.1% |
| VBR Vngrd Mrngst SL-CP Val ETF-U | 0.16% | 6,319 | $1.3M | Reduce -2.9% |
| APD Air Products & Chemicals Inc. | 0.16% | 4,155 | $1.2M | No change |
| J Jacobs Solutions Inc. | 0.15% | 9,215 | $1.2M | Reduce -2.2% |
| PG The Procter & Gamble Co. | 0.15% | 6,906 | $1.2M | Add +0.3% |
| CME Cme Group Inc. | 0.15% | 5,390 | $1.2M | Reduce -2.4% |
| RSP Invesco S&P 500 Equal Weight | 0.15% | 6,553 | $1.2M | Reduce -35.6% |
| AXP American Express Co. | 0.14% | 4,210 | $1.1M | Add +2.4% |
| DE Deere & Co. | 0.14% | 2,721 | $1.1M | Reduce -41.0% |
Portfolio Sells Q2 2024 → Q3 2024
| BRK.A Berkshire Hathaway Inc. Class A | Sold out | 0.00% | −46.79 |
| LRCX Lam Research Corp. | Sold out | 0.00% | −1.47 |
| GOOGL Alphabet Inc. Class A | Reduce -1.2% | 0.72% | −0.16 |
| DE Deere & Co. | Reduce -41.0% | 0.14% | −0.09 |
| JPM JPMorgan Chase & Co. | Reduce -1.6% | 1.37% | −0.09 |
| ADBE Adobe Inc. | Reduce -3.0% | 0.40% | −0.08 |
| BSY Bentley Systems Inc. Class B | Reduce -24.5% | 0.20% | −0.08 |
| RSP Invesco S&P 500 Equal Weight | Reduce -35.6% | 0.15% | −0.08 |
| COST Costco Wholesale Corp. | Reduce -2.2% | 1.09% | −0.08 |
| GOOG Alphabet Inc. Class C | Reduce -1.7% | 0.35% | −0.08 |
| STZ Constellation Brands Inc. Class A | Reduce -12.3% | 0.29% | −0.07 |
| EPD Enterprise Products Partners | Reduce -0.3% | 0.72% | −0.07 |
| ADSK Autodesk Inc. | Reduce -33.3% | 0.13% | −0.06 |
| WM Waste Management Inc. | Reduce -6.0% | 0.30% | −0.06 |
| CBT Cabot Corp. | Reduce -31.0% | 0.18% | −0.05 |
| NXPI NXP Semiconductors NV | Reduce -2.6% | 0.20% | −0.05 |
| MCK McKesson Corp. | Reduce -14.8% | 0.10% | −0.05 |
| AVGO Broadcom Inc. | Reduce -1.1% | 1.76% | −0.05 |
| MRVL Marvell Technology Inc. | Reduce -29.2% | 0.10% | −0.05 |
| ULTA Ulta Beauty Inc. | Reduce -4.4% | 0.30% | −0.04 |
| FTV Fortive Corp. | Reduce -11.8% | 0.24% | −0.04 |
| LHX L3HARRIS Technologies Inc. | Reduce -17.0% | 0.16% | −0.04 |
| CVX Chevron Corp. | Reduce -4.6% | 0.18% | −0.04 |
| PEP Pepsico Inc. | Reduce -5.7% | 0.29% | −0.04 |
| V Visa Inc. Class A | Reduce -1.1% | 0.63% | −0.03 |
| FDX FedEx Corp. | Reduce -19.0% | 0.07% | −0.03 |
| IMCR Immunocore Holdings PLC-ADR | Sold out | 0.00% | −0.03 |
| ROK Rockwell Automation Inc. | Reduce -19.8% | 0.08% | −0.03 |
| MS Morgan Stanley | Reduce -8.3% | 0.29% | −0.03 |
| DRI Darden Restaurants Inc. | Reduce -15.0% | 0.17% | −0.03 |
| EW Edwards Lifesciences Corp. | Sold out | 0.00% | −0.03 |
| J Jacobs Solutions Inc. | Reduce -2.2% | 0.15% | −0.03 |
| CAVA Cava Group Inc. | Sold out | 0.00% | −0.03 |
| NUE Nucor Corp. | Reduce -5.1% | 0.14% | −0.03 |
| CSCO Cisco Systems Inc. | Reduce -36.7% | 0.05% | −0.03 |
| CTRA Coterra Energy Inc. | Reduce -0.1% | 0.12% | −0.03 |
| SCHD Schwab US DVD Equity ETF | Reduce -13.0% | 0.16% | −0.02 |
| DELL Dell Technologies -C | Reduce -16.1% | 0.05% | −0.02 |
| HON Honeywell International Inc. | Reduce -1.2% | 0.17% | −0.02 |
| ARCC Ares Capital Corp. | Reduce -6.7% | 0.13% | −0.02 |
| CTVA Corteva Inc. | Reduce -13.4% | 0.14% | −0.02 |
| RIVN Rivian Automotive Inc. Class A | Sold out | 0.00% | −0.02 |
| GXO Gxo Logistics Inc. | Reduce -32.9% | 0.03% | −0.02 |
| VMC Vulcan Materials Co. | Reduce -1.7% | 0.18% | −0.02 |
| LIN Linde PLC | Reduce -1.7% | 0.82% | −0.02 |
| SHEL Shell PLC-ADR | Reduce -3.7% | 0.07% | −0.02 |
| TJX TJX Companies Inc. | Reduce -5.1% | 0.21% | −0.02 |
| PAYX Paychex Inc. | Reduce -35.2% | 0.03% | −0.01 |
| YUM Yum! Brands Inc. | Reduce -4.3% | 0.14% | −0.01 |
| INDA iShares MSCI India ETF | Reduce -2.3% | 0.17% | −0.01 |
Portfolio Buys Q2 2024 → Q3 2024
| BRK.A 1/100 Berkshire HTWY A Class A | New | 48.34% | +48.34 |
| LRCX Lam Research Corp. | New | 1.05% | +1.05 |
| SNPS Synopsys Inc. | Add +124.8% | 0.33% | +0.14 |
| UBER Uber Technologies Inc. | New | 0.12% | +0.12 |
| VRT Vertiv Holdings Co. Class A | Add +86.3% | 0.24% | +0.12 |
| FSLR First Solar Inc. | Add +37.0% | 0.30% | +0.08 |
| VTI VG Morningstar TS MKT ETF-US | Add +32.7% | 0.26% | +0.06 |
| BWA Borgwarner Inc. | Add +14.4% | 0.37% | +0.06 |
| WYNN WYNN Resorts Ltd. | New | 0.05% | +0.05 |
| ACN Accenture PLC Class A | Add +2.4% | 0.57% | +0.05 |
| FCX Freeport-McMoran Inc. | Add +29.9% | 0.21% | +0.04 |
| SPGI S&P Global Inc. | Add +0.3% | 0.62% | +0.04 |
| NEE Nextera Energy Inc. | Add +0.9% | 0.37% | +0.03 |
| CRWD CrowdStrike Holdings Inc. Class A | New | 0.03% | +0.03 |
| TECK Teck Resources Ltd.-CLS B | Add +76.3% | 0.07% | +0.03 |
| LMT Lockheed Martin Corp. | Add +2.4% | 0.20% | +0.03 |
| SYLD Cambria Shareholder Yield Et | Add +112.8% | 0.06% | +0.03 |
| GLW Corning Inc. | New | 0.03% | +0.03 |
| PGR Progressive Corp. | New | 0.03% | +0.03 |
| DD Dupont DE Nemours Inc. | New | 0.03% | +0.03 |
| ODFL Old Dominion Freight Line | New | 0.03% | +0.03 |
| VBK Van Morst SML-Cap Gro-Usd Inc. | New | 0.03% | +0.03 |
| CHRW C.H. Robinson Worldwide Inc. | New | 0.03% | +0.03 |
| EXC Exelon Corp. | New | 0.03% | +0.03 |
| TGT Target Corp. | New | 0.03% | +0.03 |
| CARR Carrier Global Corp. | Add +0.1% | 0.16% | +0.02 |
| EXP Eagle Materials Inc. | Add +5.7% | 0.10% | +0.02 |
| ICE Intercontinental Exchange Inc. | Add +0.7% | 0.27% | +0.02 |
| KMB Kimberly-Clark Corp. | Add +13.8% | 0.29% | +0.02 |
| TMUS T-Mobile US Inc. | Add +0.3% | 0.27% | +0.02 |
| ORCL Oracle Corp. | Add +1.9% | 0.17% | +0.02 |
| PFE Pfizer Inc. | Add +40.7% | 0.07% | +0.02 |
| AMZN Amazon.com Inc. | Add +15.5% | 0.98% | +0.02 |
| ISRG Intuitive Surgical Inc. | Add +1.6% | 0.60% | +0.02 |
| GEHC GE Healthcare Technology | Add +12.8% | 0.08% | +0.02 |
| UNH Unitedhealth Group Inc. | Add +2.7% | 0.21% | +0.02 |
| META Meta Platforms Inc. Class A | Add +6.5% | 0.14% | +0.01 |
| AXP American Express Co. | Add +2.4% | 0.14% | +0.01 |
| PNC PNC Financial Services Group | Add +4.1% | 0.10% | +0.01 |
| ABT Abbott Laboratories | Add +1.9% | 0.49% | +0.01 |
| IQV Iqvia Holdings Inc. | Add +8.6% | 0.11% | +0.01 |
| BSX Boston Scientific Corp. | Add +11.8% | 0.09% | +0.01 |
| ETN Eaton Corp. PLC | Add +5.5% | 0.43% | +0.01 |
| VZ Verizon Communications Inc. | Add +13.8% | 0.04% | +0.00 |
| VOE Vngrd Mrngstr MD-Cap Val ETF | Add +0.0% | 0.19% | +0.00 |
| SCHF Schwab Intl Equity ETF | Add +6.5% | 0.08% | +0.00 |
| VXUS Vanguard Total Intl Stock | Add +3.2% | 0.21% | +0.00 |
| VO Vngrd Mrngstr MD-Cap ETF-Usd | Add +0.3% | 0.06% | 0.00 |
| DIS The Walt Disney Co. | Add +12.3% | 0.10% | −0.00 |
| VIG Vanguard Dividend Apprec ETF | Add +0.1% | 0.13% | −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 |