13F HOLDINGS REPORT
Baldwin Investment Management, LLC
Quarter ended Q2 2025 · Filed August 11, 2025 · Accession 0001346378-25-000004
Total Value
$828.4M
Positions
209
Other Managers
0
Confidential Omitted
No
Holdings (209)
| # | Issuer | Ticker / CUSIP | Shares | Value | % of Filing |
|---|---|---|---|---|---|
| 1 | Berkshire Hathaway Inc A | BRK-A | 556 | $405.2M | 48.92% |
| 2 | Broadcom Limited | AVGO | 76,307 | $21.0M | 2.54% |
| 3 | Nvidia Corp | NVDA | 120,936 | $19.1M | 2.31% |
| 4 | Microsoft Corp | MSFT | 32,728 | $16.3M | 1.97% |
| 5 | Apple Inc | AAPL | 72,428 | $14.9M | 1.79% |
| 6 | J.P. Morgan Chase & Co | VYLD | 48,966 | $14.2M | 1.71% |
| 7 | Lam Research Corp | LRCX | 101,768 | $9.9M | 1.20% |
| 8 | Costco Wholesale Corporation | 22160K105 | 9,990 | $9.9M | 1.19% |
| 9 | Amazon.com Inc | AMZN | 41,864 | $9.2M | 1.11% |
| 10 | Berkshire Hathaway Inc B | BRK-A | 18,844 | $9.2M | 1.11% |
| 11 | Visa Inc. | V | 21,506 | $7.6M | 0.92% |
| 12 | Eli Lilly & Company | LLY | 9,574 | $7.5M | 0.90% |
| 13 | Vertex Pharmaceuticals | VRTX | 14,541 | $6.5M | 0.78% |
| 14 | Exxon Mobil Corporation | XOM | 56,300 | $6.1M | 0.73% |
| 15 | Alphabet Inc Class A | GOOG | 34,334 | $6.1M | 0.73% |
| 16 | Enterprise Products Partners | 293792107 | 192,615 | $6.0M | 0.72% |
| 17 | Linde PLC | LIN | 12,238 | $5.7M | 0.69% |
| 18 | Intuitive Surgical | ISRG | 9,857 | $5.4M | 0.65% |
| 19 | S&P Global Inc | SPGI | 10,102 | $5.3M | 0.64% |
| 20 | Abbvie Inc | ABBV | 28,530 | $5.3M | 0.64% |
| 21 | Abbott Laboratories | ABLZF | 37,963 | $5.2M | 0.62% |
| 22 | Vanguard S&P 500 Etf | 922908363 | 8,759 | $5.0M | 0.60% |
| 23 | RTX Corp | RTX | 33,151 | $4.8M | 0.58% |
| 24 | Blackrock Inc | BLK | 4,576 | $4.8M | 0.58% |
| 25 | Eaton Corp | ETN | 13,165 | $4.7M | 0.57% |
| 26 | Goldman Sachs Group Inc | GSCE | 6,242 | $4.4M | 0.53% |
| 27 | Palo Alto Networks | PANW | 20,845 | $4.3M | 0.51% |
| 28 | Home Depot Inc | HD | 11,509 | $4.2M | 0.51% |
| 29 | Taiwan Semiconductor Manufacturing ADR | 874039100 | 16,642 | $3.8M | 0.46% |
| 30 | Zoetis Inc | ZTS | 23,711 | $3.7M | 0.45% |
| 31 | Union Pacific Corp | UNP | 15,770 | $3.6M | 0.44% |
| 32 | Rockwell Automation | ROK | 10,615 | $3.5M | 0.43% |
| 33 | Caterpillar Inc | CAT | 8,777 | $3.4M | 0.41% |
| 34 | Accenture Plc | ACN | 11,194 | $3.3M | 0.40% |
| 35 | Thermo Fisher Scientific | TMO | 8,240 | $3.3M | 0.40% |
| 36 | Vertiv Holdings Co | VRT | 24,301 | $3.1M | 0.38% |
| 37 | American Tower REIT | 03027X100 | 13,314 | $2.9M | 0.36% |
| 38 | Baker Hughes Co | BKR | 75,252 | $2.9M | 0.35% |
| 39 | Morgan Stanley & Co | MS-PQ | 19,867 | $2.8M | 0.34% |
| 40 | Alphabet Inc Class C | GOOG | 15,722 | $2.8M | 0.34% |
| 41 | Capital One Financial | 14040H105 | 13,090 | $2.8M | 0.34% |
| 42 | Johnson & Johnson | JNJ | 17,684 | $2.7M | 0.33% |
| 43 | S&P DEP Receipts | SPY | 4,318 | $2.7M | 0.32% |
| 44 | Nextera Energy | NEE-PW | 36,626 | $2.5M | 0.31% |
| 45 | Danaher Corp | 235851102 | 12,738 | $2.5M | 0.30% |
| 46 | Tractor Supply Company | TSCO | 47,530 | $2.5M | 0.30% |
| 47 | Lowes Companies Inc | 548661107 | 11,156 | $2.5M | 0.30% |
| 48 | Waste Management Inc | 94106L109 | 10,486 | $2.4M | 0.29% |
| 49 | Mastercard Inc | MA | 4,238 | $2.4M | 0.29% |
| 50 | Fiserv Inc | FISV | 13,775 | $2.4M | 0.29% |
| 51 | Adobe Inc | ADBE | 6,098 | $2.4M | 0.28% |
| 52 | T-Mobile US | TMUSZ | 9,789 | $2.3M | 0.28% |
| 53 | McDonald's Corp | MCD | 7,918 | $2.3M | 0.28% |
| 54 | Icici Bank Ltd Adr | IBN | 67,438 | $2.3M | 0.27% |
| 55 | Vanguard Total Stock Market ETF | 922908769 | 7,435 | $2.3M | 0.27% |
| 56 | TJX Inc | 872540109 | 18,246 | $2.3M | 0.27% |
| 57 | American Express Co | AXP | 6,787 | $2.2M | 0.26% |
| 58 | Axalta Coating Systems | AXTA | 63,226 | $1.9M | 0.23% |
| 59 | Blackstone Inc | BX | 12,511 | $1.9M | 0.23% |
| 60 | Synopsys Inc | SNPS | 3,620 | $1.9M | 0.22% |
| 61 | Deere & Co | DE | 3,614 | $1.8M | 0.22% |
| 62 | Oracle Corp | ORCL-PD | 8,345 | $1.8M | 0.22% |
| 63 | Chubb Corp. | CB | 6,237 | $1.8M | 0.22% |
| 64 | Darden Restaurants Inc | DRI | 8,093 | $1.8M | 0.21% |
| 65 | Intercontinental Exchange | 45866F104 | 9,559 | $1.8M | 0.21% |
| 66 | Vanguard Total Interntl Stk | 921909768 | 25,136 | $1.7M | 0.21% |
| 67 | Kimberly Clark Corp | KMB | 12,922 | $1.7M | 0.20% |
| 68 | iShares S&P Smallcap 600 | 464287804 | 14,928 | $1.6M | 0.20% |
| 69 | Uber Technologies Inc | UBER | 17,105 | $1.6M | 0.19% |
| 70 | Novo Nordisk | NONOF | 21,874 | $1.5M | 0.18% |
| 71 | Nike Inc | NKE | 21,098 | $1.5M | 0.18% |
| 72 | International Business Machines Corp | INTR | 5,029 | $1.5M | 0.18% |
| 73 | Ulta Beauty Inc. | ULTA | 3,153 | $1.5M | 0.18% |
| 74 | Meta Platforms Inc | META | 1,987 | $1.5M | 0.18% |
| 75 | Vanguard Mid Cap Growth | 922908538 | 5,150 | $1.5M | 0.18% |
| 76 | Freeport McMoRan | FCX | 33,234 | $1.4M | 0.17% |
| 77 | Pepsico Inc. | PEP | 10,874 | $1.4M | 0.17% |
| 78 | Honeywell International | 438516106 | 6,071 | $1.4M | 0.17% |
| 79 | Viking Holdings | VIK | 26,505 | $1.4M | 0.17% |
| 80 | Infosys Technologies Ltd | INFY | 74,840 | $1.4M | 0.17% |
| 81 | Constellation Brands Inc | STZ | 8,482 | $1.4M | 0.17% |
| 82 | Starbucks Corp | SBUX | 14,992 | $1.4M | 0.17% |
| 83 | Mondelez International | 609207105 | 20,232 | $1.4M | 0.16% |
| 84 | Boston Scientific Corp | BSX | 12,470 | $1.3M | 0.16% |
| 85 | Pfizer Inc. | PFE | 53,238 | $1.3M | 0.16% |
| 86 | CME Group Inc | CME | 4,571 | $1.3M | 0.15% |
| 87 | Lockheed Martin Corp | LMT | 2,693 | $1.2M | 0.15% |
| 88 | Mettler Toledo Intl Inc | MTD | 1,061 | $1.2M | 0.15% |
| 89 | Chevron Corp. | CVX | 8,610 | $1.2M | 0.15% |
| 90 | Southern Company | SOMN | 13,328 | $1.2M | 0.15% |
| 91 | Corteva Agriscience Inc | CTVA | 16,229 | $1.2M | 0.15% |
| 92 | Procter & Gamble Co. | 742718109 | 7,540 | $1.2M | 0.15% |
| 93 | Ares Capital Corp | ARCC | 54,667 | $1.2M | 0.14% |
| 94 | RyanAir Holdings PLC | RYAOF | 20,689 | $1.2M | 0.14% |
| 95 | Trane Technologies Plc | TT | 2,716 | $1.2M | 0.14% |
| 96 | UnitedHealth Group | UNH | 3,789 | $1.2M | 0.14% |
| 97 | Diamondback Energy | FANG | 8,503 | $1.2M | 0.14% |
| 98 | Cencora Inc | COR | 3,858 | $1.2M | 0.14% |
| 99 | Zscaler Inc | ZS | 3,616 | $1.1M | 0.14% |
| 100 | Walt Disney Co | 254687106 | 9,091 | $1.1M | 0.14% |
| 101 | NXP Semiconductors N.V. | NXPI | 5,047 | $1.1M | 0.13% |
| 102 | Rydex S&P Equal Weight ETF | IVZ | 5,918 | $1.1M | 0.13% |
| 103 | Shopify Inc | SHOP | 9,208 | $1.1M | 0.13% |
| 104 | Prologis Inc | PLDGP | 9,888 | $1.0M | 0.13% |
| 105 | Wal-Mart Stores Inc. | WMT | 10,487 | $1.0M | 0.12% |
| 106 | Yum! Brands Inc | YUM | 6,899 | $1.0M | 0.12% |
| 107 | First Solar Inc | FSLR | 6,162 | $1.0M | 0.12% |
| 108 | Marvell Technology Group | MRVL | 13,110 | $1.0M | 0.12% |
| 109 | Ishares MSCI India Index | 46429B598 | 17,946 | $999,233 | 0.12% |
| 110 | Vanguard Small Cap Value | 922908611 | 4,947 | $964,650 | 0.12% |
| 111 | McKesson Corp | MCK | 1,260 | $923,303 | 0.11% |
| 112 | Cisco Systems Inc | CSCO | 13,272 | $920,825 | 0.11% |
| 113 | Bank of America Corp | 060505104 | 19,400 | $918,008 | 0.11% |
| 114 | ASML Holdings NV | ASMLF | 1,144 | $916,790 | 0.11% |
| 115 | Vulcan Materials Company | 929160109 | 3,513 | $916,261 | 0.11% |
| 116 | Sportradar Group | SRAD | 32,627 | $916,166 | 0.11% |
| 117 | L3Harris Technologies | LHX | 3,642 | $913,559 | 0.11% |
| 118 | Automatic Data Processing Inc | ADP | 2,959 | $912,556 | 0.11% |
| 119 | Autodesk Inc | ADSK | 2,927 | $906,111 | 0.11% |
| 120 | Coca Cola Co. | KO | 12,770 | $903,478 | 0.11% |
| 121 | Datadog Inc | DDOG | 6,640 | $891,951 | 0.11% |
| 122 | Cintas Corp | CTAS | 4,000 | $891,480 | 0.11% |
| 123 | Duke Energy Corp. | DUKB | 7,489 | $883,683 | 0.11% |
| 124 | Air Products and Chemicals Inc | AIIR | 3,103 | $875,232 | 0.11% |
| 125 | Borg Warner Inc | BWA | 25,235 | $844,868 | 0.10% |
| 126 | Cigna Corporation | 125523100 | 2,504 | $827,772 | 0.10% |
| 127 | Carrier Global Corp | CARR | 11,240 | $822,656 | 0.10% |
| 128 | iShares Russell Midcap Index Fd | 464287499 | 8,363 | $769,145 | 0.09% |
| 129 | Fortive Corp | FTV | 14,243 | $742,488 | 0.09% |
| 130 | Skechers USA Inc | 830566105 | 11,525 | $727,228 | 0.09% |
| 131 | GXO Logistics Inc | GXO | 14,849 | $723,146 | 0.09% |
| 132 | Technology Select Sector SPDR Fund | 81369Y803 | 2,850 | $721,706 | 0.09% |
| 133 | Sentinelone Inc | S | 37,975 | $694,183 | 0.08% |
| 134 | Brookfield Renewable Partners LP | G16258108 | 26,657 | $680,020 | 0.08% |
| 135 | Schwab International Equity Fund | 808524805 | 30,153 | $666,376 | 0.08% |
| 136 | Bristol-Myers Squibb | CELG-RI | 14,139 | $654,481 | 0.08% |
| 137 | Welltower Inc | WELL | 4,076 | $626,603 | 0.08% |
| 138 | Schwab US Dividend Equity ETF | 808524797 | 22,711 | $601,841 | 0.07% |
| 139 | Carnival Corp | CUKPF | 21,149 | $594,710 | 0.07% |
| 140 | iShares MSCI Japan Index Fund | 46434G822 | 7,921 | $593,837 | 0.07% |
| 141 | Vanguard Dividend Appreciation ETF | 921908844 | 2,879 | $589,283 | 0.07% |
| 142 | iShares TIPS Bond Fund | 464287176 | 5,200 | $572,208 | 0.07% |
| 143 | Trip.com Group Ltd | TRPCF | 9,442 | $553,679 | 0.07% |
| 144 | Check Point Software Technologies | M22465104 | 2,451 | $542,284 | 0.07% |
| 145 | PNC Financial Services Group Inc | 693475105 | 2,833 | $528,128 | 0.06% |
| 146 | Colgate Palmolive Co | CL | 5,772 | $524,675 | 0.06% |
| 147 | Sherwin Williams Co | SHW | 1,467 | $503,709 | 0.06% |
| 148 | Ishares Tr Russell 2000 Index Fd | 464287655 | 2,312 | $498,906 | 0.06% |
| 149 | Comcast Corp | CCZ | 13,918 | $496,733 | 0.06% |
| 150 | Itau UniBanco Multiplo ADR | 465562106 | 72,288 | $490,836 | 0.06% |
| 151 | Vanguard Mid Cap Value | 922908512 | 2,944 | $484,242 | 0.06% |
| 152 | Cava Group Inc | CAVA | 5,729 | $482,554 | 0.06% |
| 153 | SHELL ADR EACH REP 2 ORD WI | RYDAF | 6,672 | $469,776 | 0.06% |
| 154 | Expand Energy Corp | EXE | 3,918 | $458,171 | 0.06% |
| 155 | Schwab US Broad Market ETF | 808524102 | 19,187 | $457,225 | 0.06% |
| 156 | Corning Inc | GLW | 8,650 | $454,904 | 0.05% |
| 157 | Nucor Corp | NUE | 3,435 | $444,970 | 0.05% |
| 158 | Merck & Co Inc | MRK | 5,570 | $440,921 | 0.05% |
| 159 | Iqvia Hldgs Inc | IQV | 2,783 | $438,573 | 0.05% |
| 160 | Cabot Corporation | CBT | 5,830 | $437,250 | 0.05% |
| 161 | Leidos Holdings Inc | LDOS | 2,750 | $433,840 | 0.05% |
| 162 | Vanguard FTSE Emerging Mkt ETF | 922042858 | 8,668 | $428,708 | 0.05% |
| 163 | Parker Hannifin Corp | PH | 603 | $421,177 | 0.05% |
| 164 | RPM International Inc | 749685103 | 3,700 | $406,408 | 0.05% |
| 165 | Cummins Inc | CMI | 1,240 | $406,100 | 0.05% |
| 166 | Edwards Lifesciences Corp | EW | 5,145 | $402,390 | 0.05% |
| 167 | Allstate Corp | ALL-PJ | 1,992 | $401,010 | 0.05% |
| 168 | Dell Inc | DELL | 3,178 | $389,623 | 0.05% |
| 169 | Texas Instruments, Inc. | 882508104 | 1,852 | $384,512 | 0.05% |
| 170 | iShares MSCI EAFE Index Fund | 464287465 | 4,225 | $377,673 | 0.05% |
| 171 | Crowdstrike Hldgs Inc | CRWD | 740 | $376,889 | 0.05% |
| 172 | Johnson Controls Inc | G51502105 | 3,464 | $365,868 | 0.04% |
| 173 | Eagle Materials Inc | 26969P108 | 1,800 | $363,798 | 0.04% |
| 174 | iShares Trust Dow Jones US Tech Fund | 464287721 | 2,030 | $351,738 | 0.04% |
| 175 | HSBC PLC Spon ADR | HBCYF | 5,707 | $346,929 | 0.04% |
| 176 | Canadian Pacific Kansas City Ltd | CP | 4,185 | $331,745 | 0.04% |
| 177 | Aon PLC | AON | 900 | $321,084 | 0.04% |
| 178 | FedEx Corp | FDX | 1,367 | $310,733 | 0.04% |
| 179 | Phillips 66 | PSX | 2,600 | $310,180 | 0.04% |
| 180 | VERALTO ORD WI | VLTO | 3,061 | $309,011 | 0.04% |
| 181 | Progressive Corp | 743315103 | 1,137 | $303,420 | 0.04% |
| 182 | Industrial Select Sector SPDR Fund | 81369Y704 | 2,020 | $297,990 | 0.04% |
| 183 | Cambria Shareholder Yield ETF | 132061201 | 4,213 | $273,999 | 0.03% |
| 184 | Baidu Inc ADR | BAIDF | 3,102 | $266,028 | 0.03% |
| 185 | Dover Corp | DOV | 1,450 | $265,684 | 0.03% |
| 186 | Avantis US Small Cap Value ETF | 025072877 | 2,913 | $265,398 | 0.03% |
| 187 | Sysco Corp | SYY | 3,475 | $263,197 | 0.03% |
| 188 | C S X Corp | CSX | 7,883 | $257,222 | 0.03% |
| 189 | RALLIANT CORP | RAL | 4,742 | $251,231 | 0.03% |
| 190 | GE Vernova Inc. | GEV | 467 | $247,113 | 0.03% |
| 191 | Xylem Inc | XYL | 1,907 | $246,690 | 0.03% |
| 192 | Public Service Enterprise Group | 744573106 | 2,900 | $244,122 | 0.03% |
| 193 | Analog Devices Inc | ADI | 1,015 | $241,590 | 0.03% |
| 194 | Tesla Inc | TSLA | 749 | $237,927 | 0.03% |
| 195 | Wells Fargo & Co. | 949746101 | 2,964 | $237,441 | 0.03% |
| 196 | Immunome, Inc. | IMNM | 25,394 | $236,164 | 0.03% |
| 197 | Teck Resources Ltd | TCKRF | 5,775 | $233,195 | 0.03% |
| 198 | Qualcomm Inc | QCOM | 1,462 | $232,838 | 0.03% |
| 199 | Ishares Tr S&P Midcap | 464287507 | 3,620 | $224,512 | 0.03% |
| 200 | Vanguard Mid-Cap ETF | 922908629 | 768 | $214,953 | 0.03% |
| 201 | Vanguard FTSE Developed Markets ETF | 921943858 | 3,754 | $213,990 | 0.03% |
| 202 | Emerson Electric Co | EMR | 1,587 | $211,595 | 0.03% |
| 203 | Powershares QQQ Trust | IVZ | 383 | $211,431 | 0.03% |
| 204 | Travelers Companies Inc | TRV | 775 | $207,344 | 0.03% |
| 205 | Schwab US Small Cap ETF | 808524607 | 8,142 | $205,986 | 0.02% |
| 206 | SPDR Gold Trust | GLD | 675 | $205,760 | 0.02% |
| 207 | KLA-Tencor Corp | KLAC | 225 | $201,542 | 0.02% |
| 208 | Mizuho Financial Group Inc | MZHOF | 28,800 | $160,128 | 0.02% |
| 209 | Ocugen Inc | OCGN | 25,000 | $24,260 | 0.00% |