Baldwin Investment Management, LLC
In its 13F for Q1 2026 (holdings as of March 31, 2026, filed May 12, 2026), Baldwin Investment Management, LLC reported 210 stock positions worth $855.7 million. Its top holding was Berkshire Hathaway Class A (BRK.A) at 46.6% of the portfolio, followed by Broadcom (AVGO, 2.6%) and Nvidia (NVDA, 2.3%). Compared with Q4 2025, it opened 10 new positions, sold out of 7, added to 63 and reduced 64. The biggest buy was Vertiv Class A (VRT, shares +0%) and the biggest sale Berkshire Hathaway Class A (BRK.A, shares −0%).
- Most Recent 13F
- Q2 2026
- Location
- WEST CONSHOHOCKEN, PA
- CIK
- 0001346378
- Portfolio Value
- $855.7M (Q1 2026)
- SEC Filing
- 0001346378-26-000002 ↗ filed May 12, 2026
Holdings Value
Holdings 210 stocks · $855.7M
| BRK.A Berkshire Hathaway Inc. Class A | 46.58% | 555 | $398.6M | Reduce -0.2% |
| AVGO Broadcom Inc. | 2.58% | 71,361 | $22.1M | Reduce -2.8% |
| NVDA Nvidia Corp. | 2.33% | 114,277 | $19.9M | Reduce -1.2% |
| LRCX Lam Research Corp. | 2.21% | 88,594 | $18.9M | Reduce -9.7% |
| AAPL Apple Inc. | 2.09% | 70,571 | $17.9M | Add +0.9% |
| JPM JPMorgan Chase & Co. | 1.66% | 48,174 | $14.2M | Add +0.1% |
| MSFT Microsoft Corp. | 1.43% | 32,974 | $12.2M | Add +1.7% |
| COST Costco Wholesale Corp. | 1.35% | 11,581 | $11.5M | Add +2.0% |
| LLY Eli Lilly & Co. | 1.18% | 10,940 | $10.1M | Reduce -0.3% |
| GOOGL Alphabet Inc. Class A | 1.12% | 33,454 | $9.6M | Reduce -0.5% |
| XOM Exxon Mobil Corp. | 1.09% | 55,219 | $9.4M | Reduce -1.9% |
| BRK.B Berkshire Hathaway Inc. Class B | 1.09% | 19,428 | $9.3M | Add +6.9% |
| AMZN Amazon.com Inc. | 1.02% | 41,916 | $8.7M | Add +1.8% |
| RTX RTX Corp. | 1.00% | 44,529 | $8.6M | Reduce -0.7% |
| EPD Enterprise Products Partners | 0.85% | 191,838 | $7.3M | Reduce -0.1% |
| VRTX Vertex Pharmaceuticals Inc. | 0.82% | 15,662 | $7.0M | Add +0.7% |
| V Visa Inc. Class A | 0.75% | 21,372 | $6.5M | Add +0.2% |
| ABBV Abbvie Inc. | 0.72% | 28,449 | $6.2M | Reduce -0.3% |
| VRT Vertiv Holdings Co. Class A | 0.71% | 24,092 | $6.0M | Add +0.3% |
| CAT Caterpillar Inc. | 0.67% | 8,040 | $5.7M | Reduce -1.9% |
| TSM Taiwan Semiconductor-SP ADR | 0.66% | 16,672 | $5.6M | Add +1.0% |
| LIN Linde PLC | 0.65% | 11,242 | $5.6M | Reduce -0.4% |
| VOO Vanguard S&P 500 ETF | 0.64% | 9,177 | $5.5M | Add +3.3% |
| GS Goldman Sachs Group Inc. | 0.62% | 6,256 | $5.3M | Reduce -0.8% |
| ISRG Intuitive Surgical Inc. | 0.58% | 10,825 | $5.0M | Add +2.5% |
| SPGI S&P Global Inc. | 0.55% | 11,137 | $4.7M | Add +6.4% |
| ETN Eaton Corp. PLC | 0.54% | 12,950 | $4.6M | Add +0.1% |
| BLK BlackRock Inc. | 0.52% | 4,617 | $4.4M | No change |
| BKR Baker Hughes Co. | 0.51% | 72,062 | $4.4M | Reduce -2.8% |
| JNJ Johnson & Johnson | 0.50% | 17,653 | $4.3M | Reduce -0.3% |
| GOOG Alphabet Inc. Class C | 0.50% | 14,951 | $4.3M | Reduce -3.2% |
| PANW Palo Alto Networks Inc. | 0.50% | 26,583 | $4.3M | Add +7.8% |
| ABT Abbott Laboratories | 0.48% | 39,819 | $4.1M | Add +0.7% |
| TMO Thermo Fisher Scientific Inc. | 0.47% | 8,102 | $4.0M | Reduce -0.1% |
| HD Home Depot Inc. | 0.45% | 11,628 | $3.8M | Add +5.3% |
| ROK Rockwell Automation Inc. | 0.44% | 10,377 | $3.7M | Reduce -0.1% |
| NEE Nextera Energy Inc. | 0.41% | 37,608 | $3.5M | Reduce -0.3% |
| MS Morgan Stanley | 0.38% | 19,501 | $3.2M | Reduce -0.9% |
| UNP Union Pacific Corp. | 0.36% | 12,778 | $3.1M | Reduce -0.1% |
| TJX TJX Companies Inc. filed as TJX COS INC NEW | 0.34% | 18,271 | $2.9M | Add +0.4% |
| COF Capital One Financial Corp. | 0.34% | 15,882 | $2.9M | Add +7.4% |
| VTI VG Morningstar TS MKT ETF-US | 0.32% | 8,480 | $2.7M | Add +11.0% |
| ZTS Zoetis Inc. | 0.30% | 21,952 | $2.6M | Add +0.6% |
| ADSK Autodesk Inc. | 0.30% | 10,657 | $2.6M | Add +120.5% |
| WM Waste Management Inc. | 0.29% | 10,746 | $2.5M | Reduce -0.4% |
| LOW Lowe's Cos Inc. | 0.28% | 10,232 | $2.4M | No change |
| DRI Darden Restaurants Inc. | 0.27% | 11,971 | $2.3M | Reduce -0.6% |
| MCD McDonald's Corp. | 0.26% | 7,283 | $2.3M | Reduce -3.7% |
| DHR Danaher Corp. | 0.26% | 11,900 | $2.3M | Reduce -1.6% |
| DE Deere & Co. | 0.25% | 3,785 | $2.1M | Add +14.9% |
| MA Mastercard Inc. Class A | 0.25% | 4,238 | $2.1M | No change |
| FCX Freeport-McMoran Inc. | 0.25% | 35,712 | $2.1M | Reduce -4.3% |
| AXP American Express Co. | 0.24% | 6,860 | $2.1M | No change |
| DELL Dell Technologies -C | 0.24% | 12,427 | $2.0M | Add +96.7% |
| CB Chubb Ltd. | 0.24% | 6,193 | $2.0M | Reduce -1.6% |
| TSCO Tractor Supply Company | 0.23% | 44,275 | $2.0M | Add +0.2% |
| VXUS Vanguard Total Intl Stock | 0.22% | 24,913 | $1.9M | Reduce -3.2% |
| TMUS T-Mobile US Inc. | 0.22% | 9,105 | $1.9M | Reduce -5.2% |
| IBN Icici Bank Ltd.-Spon ADR | 0.22% | 73,838 | $1.9M | Add +9.5% |
| ACN Accenture PLC Class A | 0.22% | 9,534 | $1.9M | Reduce -3.7% |
| IJR iShares Core S&P Small-Cap E | 0.22% | 14,919 | $1.9M | Add +0.9% |
| SPY SS SPDR S&P 500 ETF Trust-US | 0.22% | 2,847 | $1.9M | Reduce -30.5% |
| PEP Pepsico Inc. | 0.21% | 11,694 | $1.8M | Add +0.2% |
| AMT American Tower Corp. | 0.21% | 10,476 | $1.8M | Add +1.7% |
| ULTA Ulta Beauty Inc. | 0.21% | 3,389 | $1.8M | No change |
| CVX Chevron Corp. | 0.21% | 8,550 | $1.8M | No change |
| ASML ASML Holding NV-NY Reg SHS filed as ASML HLDG NV | 0.21% | 1,334 | $1.8M | No change |
| SO The Southern Co. | 0.21% | 18,237 | $1.8M | Add +7.0% |
| IBM Intl Business Machines Corp. filed as INTERNATIONAL BUSINESS MACHS | 0.21% | 7,239 | $1.8M | Add +7.9% |
| DIS The Walt Disney Co. filed as DISNEY WALT CO | 0.20% | 18,080 | $1.7M | Add +80.0% |
| VIK Viking Holdings Ltd. | 0.19% | 21,910 | $1.6M | Reduce -4.8% |
| AXTA Axalta Coating Systems Ltd. | 0.17% | 54,029 | $1.5M | Reduce -7.3% |
| META Meta Platforms Inc. Class A | 0.17% | 2,611 | $1.5M | Add +12.4% |
| WMT Walmart Inc. | 0.17% | 11,587 | $1.4M | Add +18.4% |
| SNPS Synopsys Inc. | 0.17% | 3,605 | $1.4M | Add +16.3% |
| ICE Intercontinental Exchange Inc. | 0.16% | 8,964 | $1.4M | No change |
| FANG Diamondback Energy Inc. | 0.16% | 7,103 | $1.4M | Reduce -15.1% |
| BWA Borgwarner Inc. | 0.16% | 25,457 | $1.4M | Add +6.0% |
| BX Blackstone Inc. | 0.16% | 12,009 | $1.4M | No change |
| HON Honeywell International Inc. | 0.16% | 5,975 | $1.4M | No change |
| MTD Mettler-Toledo International | 0.16% | 1,061 | $1.3M | No change |
| CTVA Corteva Inc. | 0.16% | 15,929 | $1.3M | No change |
| SBUX Starbucks Corp. | 0.15% | 14,750 | $1.3M | Add +0.3% |
| CME Cme Group Inc. | 0.15% | 4,463 | $1.3M | Reduce -0.1% |
| LHX L3HARRIS Technologies Inc. | 0.15% | 3,815 | $1.3M | Reduce -2.0% |
| VOT Vngrd Mrngstr MC GRW ETF-Usd | 0.15% | 5,000 | $1.3M | No change |
| MRVL Marvell Technology Inc. | 0.14% | 12,510 | $1.2M | Add +22.6% |
| RYAAY Ryanair Holdings PLC-SP ADR | 0.14% | 20,689 | $1.2M | No change |
| FSLR First Solar Inc. | 0.14% | 5,913 | $1.2M | Reduce -1.7% |
| EW Edwards Lifesciences Corp. | 0.13% | 14,320 | $1.1M | Reduce -5.1% |
| NKE Nike Inc. Class B | 0.13% | 21,627 | $1.1M | Add +0.1% |
| MDLZ Mondelez International Inc. Class A | 0.13% | 19,533 | $1.1M | Reduce -0.8% |
| TT Trane Technologies PLC | 0.13% | 2,670 | $1.1M | No change |
| ARCC Ares Capital Corp. | 0.13% | 60,192 | $1.1M | Reduce -2.3% |
| COR Cencora Inc. | 0.13% | 3,408 | $1.1M | No change |
| RSP Invesco S&P 500 Equal Weight | 0.12% | 5,505 | $1.1M | Reduce -0.6% |
| PLD Prologis Inc. | 0.12% | 7,973 | $1.1M | Reduce -2.0% |
| YUM Yum! Brands Inc. | 0.12% | 6,672 | $1.0M | No change |
| PFE Pfizer Inc. | 0.12% | 36,398 | $1.0M | Reduce -5.3% |
| CSCO Cisco Systems Inc. | 0.12% | 13,172 | $1.0M | No change |
Portfolio Sells Q4 2025 → Q1 2026
| BRK.A Berkshire Hathaway Inc. Class A | Reduce -0.2% | 46.58% | −0.80 |
| AVGO Broadcom Inc. | Reduce -2.8% | 2.58% | −0.29 |
| LLY Eli Lilly & Co. | Reduce -0.3% | 1.18% | −0.16 |
| NVDA Nvidia Corp. | Reduce -1.2% | 2.33% | −0.11 |
| SPY SS SPDR S&P 500 ETF Trust-US | Reduce -30.5% | 0.22% | −0.10 |
| ADBE Adobe Inc. | Reduce -22.5% | 0.12% | −0.09 |
| UBER Uber Technologies Inc. | Reduce -56.5% | 0.06% | −0.09 |
| ACN Accenture PLC Class A | Reduce -3.7% | 0.22% | −0.08 |
| ORCL Oracle Corp. | Reduce -32.0% | 0.09% | −0.08 |
| CCL Carnival Corp. | Sold out | 0.00% | −0.07 |
| TMO Thermo Fisher Scientific Inc. | Reduce -0.1% | 0.47% | −0.07 |
| GOOGL Alphabet Inc. Class A | Reduce -0.5% | 1.12% | −0.06 |
| BSX Boston Scientific Corp. | Reduce -13.7% | 0.08% | −0.06 |
| DHR Danaher Corp. | Reduce -1.6% | 0.26% | −0.05 |
| IMNM Immunome Inc. | Reduce -46.2% | 0.07% | −0.05 |
| GOOG Alphabet Inc. Class C | Reduce -3.2% | 0.50% | −0.05 |
| CMCSA Comcast Corp. Class A | Sold out | 0.00% | −0.04 |
| FSLR First Solar Inc. | Reduce -1.7% | 0.14% | −0.04 |
| AXTA Axalta Coating Systems Ltd. | Reduce -7.3% | 0.17% | −0.04 |
| INDA iShares MSCI India ETF | Reduce -22.1% | 0.08% | −0.03 |
| KMB Kimberly-Clark Corp. | Reduce -21.8% | 0.10% | −0.03 |
| SYY Sysco Corp. | Sold out | 0.00% | −0.03 |
| QCOM Qualcomm Inc. | Sold out | 0.00% | −0.03 |
| VO Vngrd Mrngstr MD-Cap ETF-Usd | Sold out | 0.00% | −0.03 |
| VLTO Veralto Corp. | Sold out | 0.00% | −0.03 |
| PGR Progressive Corp. | Sold out | 0.00% | −0.02 |
| ROK Rockwell Automation Inc. | Reduce -0.1% | 0.44% | −0.02 |
| DDOG Datadog Inc. Class A | Reduce -5.8% | 0.11% | −0.02 |
| MS Morgan Stanley | Reduce -0.9% | 0.38% | −0.02 |
| ARCC Ares Capital Corp. | Reduce -2.3% | 0.13% | −0.01 |
| ABBV Abbvie Inc. | Reduce -0.3% | 0.72% | −0.01 |
| EW Edwards Lifesciences Corp. | Reduce -5.1% | 0.13% | −0.01 |
| GS Goldman Sachs Group Inc. | Reduce -0.8% | 0.62% | −0.01 |
| RPM RPM International Inc. | Reduce -12.7% | 0.03% | −0.01 |
| NUE Nucor Corp. | Reduce -13.4% | 0.03% | −0.00 |
| GXO Gxo Logistics Inc. | Reduce -2.2% | 0.09% | −0.00 |
| PH Parker Hannifin Corp. | Reduce -4.2% | 0.06% | +0.00 |
| MU Micron Technology Inc. | Reduce -15.3% | 0.04% | +0.00 |
| SYLD Cambria Shareholder Yield Et | Reduce -4.2% | 0.04% | +0.00 |
| MCK McKesson Corp. | Reduce -6.3% | 0.11% | +0.00 |
| VIK Viking Holdings Ltd. | Reduce -4.8% | 0.19% | +0.00 |
| TMUS T-Mobile US Inc. | Reduce -5.2% | 0.22% | +0.00 |
| MCD McDonald's Corp. | Reduce -3.7% | 0.26% | +0.00 |
| RSP Invesco S&P 500 Equal Weight | Reduce -0.6% | 0.12% | +0.00 |
| WELL Welltower Inc. | Reduce -4.9% | 0.09% | +0.00 |
| CBT Cabot Corp. | Reduce -5.4% | 0.05% | +0.00 |
| VXUS Vanguard Total Intl Stock | Reduce -3.2% | 0.22% | +0.01 |
| CMI Cummins Inc. | Reduce -1.2% | 0.08% | +0.01 |
| PLD Prologis Inc. | Reduce -2.0% | 0.12% | +0.01 |
| CARR Carrier Global Corp. | Reduce -0.9% | 0.07% | +0.01 |
Portfolio Buys Q4 2025 → Q1 2026
| VRT Vertiv Holdings Co. Class A | Add +0.3% | 0.71% | +0.27 |
| COST Costco Wholesale Corp. | Add +2.0% | 1.35% | +0.24 |
| DELL Dell Technologies -C | Add +96.7% | 0.24% | +0.15 |
| ADSK Autodesk Inc. | Add +120.5% | 0.30% | +0.14 |
| TSM Taiwan Semiconductor-SP ADR | Add +1.0% | 0.66% | +0.09 |
| ETN Eaton Corp. PLC | Add +0.1% | 0.54% | +0.08 |
| DE Deere & Co. | Add +14.9% | 0.25% | +0.08 |
| DIS The Walt Disney Co. | Add +80.0% | 0.20% | +0.07 |
| CCL Carnival Corp. Ltd. | New | 0.06% | +0.06 |
| PLTR Palantir Technologies Inc. Class A | New | 0.06% | +0.06 |
| BRK.B Berkshire Hathaway Inc. Class B | Add +6.9% | 1.09% | +0.06 |
| FLKR Franklin Ftse South Korea | New | 0.05% | +0.05 |
| MRVL Marvell Technology Inc. | Add +22.6% | 0.14% | +0.05 |
| WMT Walmart Inc. | Add +18.4% | 0.17% | +0.05 |
| BA The Boeing Co. | Add +87.8% | 0.10% | +0.04 |
| BWA Borgwarner Inc. | Add +6.0% | 0.16% | +0.04 |
| NFLX Netflix Inc. | Add +96.1% | 0.07% | +0.04 |
| SO The Southern Co. | Add +7.0% | 0.21% | +0.04 |
| TTE Totalenergies SE | New | 0.03% | +0.03 |
| VTI VG Morningstar TS MKT ETF-US | Add +11.0% | 0.32% | +0.03 |
| VLO Valero Energy Corp. | New | 0.03% | +0.03 |
| ON On Semiconductor | New | 0.03% | +0.03 |
| TOST Toast Inc. Class A | New | 0.03% | +0.03 |
| TJX TJX Companies Inc. | Add +0.4% | 0.34% | +0.03 |
| EQIX Equinix Inc. | New | 0.03% | +0.03 |
| AMGN Amgen Inc. | New | 0.02% | +0.02 |
| EXE Expand Energy Corp. | Add +21.2% | 0.12% | +0.02 |
| PEP Pepsico Inc. | Add +0.2% | 0.21% | +0.02 |
| SCHD Schwab US DVD Equity ETF | Add +16.4% | 0.09% | +0.02 |
| VRTX Vertex Pharmaceuticals Inc. | Add +0.7% | 0.82% | +0.02 |
| HQL Abrdn Life Sciences Investor | New | 0.02% | +0.02 |
| HD Home Depot Inc. | Add +5.3% | 0.45% | +0.02 |
| GEV GE Vernova Inc. | Add +17.6% | 0.04% | +0.02 |
| IJR iShares Core S&P Small-Cap E | Add +0.9% | 0.22% | +0.02 |
| SBUX Starbucks Corp. | Add +0.3% | 0.15% | +0.01 |
| VOO Vanguard S&P 500 ETF | Add +3.3% | 0.64% | +0.01 |
| AVUV Avantis US Small Cap Value | Add +18.1% | 0.04% | +0.01 |
| XLI SS Industrial Select Sector | Add +19.0% | 0.04% | +0.01 |
| IWM iShares Russell 2000 ETF | Add +8.9% | 0.07% | +0.01 |
| BMY Bristol-Myers Squibb Co. | Add +0.3% | 0.06% | +0.01 |
| GLD SPDR Gold Shares | Add +16.2% | 0.04% | +0.01 |
| VBR Vngrd Mrngst SL-CP Val ETF-U | Add +1.0% | 0.12% | +0.01 |
| AMT American Tower Corp. | Add +1.7% | 0.21% | +0.01 |
| VOE Vngrd Mrngstr MD-Cap Val ETF | Add +0.5% | 0.06% | +0.00 |
| AMRZ Amrize Ltd. | Add +0.8% | 0.06% | +0.00 |
| INCY Incyte Corp. | Add +15.9% | 0.03% | +0.00 |
| CRWD CrowdStrike Holdings Inc. Class A | Add +24.4% | 0.05% | +0.00 |
| SNPS Synopsys Inc. | Add +16.3% | 0.17% | +0.00 |
| VEA Vanguard Ftse Developed ETF | Add +0.0% | 0.03% | +0.00 |
| META Meta Platforms Inc. Class A | Add +12.4% | 0.17% | +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 |