13F HOLDINGS REPORT
Baldwin Investment Management, LLC
Quarter ended Q3 2025 · Filed November 10, 2025 · Accession 0001346378-25-000009
Total Value
$873.4M
Positions
207
Other Managers
0
Confidential Omitted
No
Holdings (207)
| # | Issuer | Ticker / CUSIP | Shares | Value | % of Filing |
|---|---|---|---|---|---|
| 1 | Berkshire Hathaway Inc A | BRK-A | 556 | $419.3M | 48.01% |
| 2 | Broadcom Limited | AVGO | 72,212 | $23.8M | 2.73% |
| 3 | Nvidia Corp | NVDA | 118,189 | $22.1M | 2.52% |
| 4 | Apple Inc | AAPL | 72,486 | $18.5M | 2.11% |
| 5 | Microsoft Corp | MSFT | 32,688 | $16.9M | 1.94% |
| 6 | J.P. Morgan Chase & Co | VYLD | 48,789 | $15.4M | 1.76% |
| 7 | Lam Research Corp | LRCX | 100,028 | $13.4M | 1.53% |
| 8 | Costco Wholesale Corporation | 22160K105 | 11,048 | $10.2M | 1.17% |
| 9 | Berkshire Hathaway Inc B | BRK-A | 18,978 | $9.5M | 1.09% |
| 10 | Amazon.com Inc | AMZN | 41,364 | $9.1M | 1.04% |
| 11 | Eli Lilly & Company | LLY | 11,079 | $8.5M | 0.97% |
| 12 | Alphabet Inc Class A | GOOG | 33,819 | $8.2M | 0.94% |
| 13 | Visa Inc. | V | 21,536 | $7.4M | 0.84% |
| 14 | RTX Corp | RTX | 43,252 | $7.2M | 0.83% |
| 15 | Abbvie Inc | ABBV | 28,980 | $6.7M | 0.77% |
| 16 | Exxon Mobil Corporation | XOM | 56,873 | $6.4M | 0.73% |
| 17 | Vertex Pharmaceuticals | VRTX | 15,748 | $6.2M | 0.71% |
| 18 | Enterprise Products Partners | 293792107 | 192,440 | $6.0M | 0.69% |
| 19 | Linde PLC | LIN | 12,012 | $5.7M | 0.65% |
| 20 | Blackrock Inc | BLK | 4,651 | $5.4M | 0.62% |
| 21 | Vanguard S&P 500 Etf | 922908363 | 8,811 | $5.4M | 0.62% |
| 22 | Abbott Laboratories | ABLZF | 39,465 | $5.3M | 0.61% |
| 23 | Goldman Sachs Group Inc | GSCE | 6,417 | $5.1M | 0.59% |
| 24 | S&P Global Inc | SPGI | 10,242 | $5.0M | 0.57% |
| 25 | Palo Alto Networks | PANW | 24,255 | $4.9M | 0.57% |
| 26 | Eaton Corp | ETN | 12,710 | $4.8M | 0.54% |
| 27 | Intuitive Surgical | ISRG | 10,562 | $4.7M | 0.54% |
| 28 | Home Depot Inc | HD | 11,614 | $4.7M | 0.54% |
| 29 | Taiwan Semiconductor Manufacturing ADR | 874039100 | 16,592 | $4.6M | 0.53% |
| 30 | Caterpillar Inc | CAT | 8,582 | $4.1M | 0.47% |
| 31 | Thermo Fisher Scientific | TMO | 8,250 | $4.0M | 0.46% |
| 32 | Alphabet Inc Class C | GOOG | 15,772 | $3.8M | 0.44% |
| 33 | Rockwell Automation | ROK | 10,540 | $3.7M | 0.42% |
| 34 | Vertiv Holdings Co | VRT | 24,301 | $3.7M | 0.42% |
| 35 | Baker Hughes Co | BKR | 73,452 | $3.6M | 0.41% |
| 36 | Zoetis Inc | ZTS | 22,966 | $3.4M | 0.38% |
| 37 | Johnson & Johnson | JNJ | 17,940 | $3.3M | 0.38% |
| 38 | Morgan Stanley & Co | MS-PQ | 19,672 | $3.1M | 0.36% |
| 39 | Union Pacific Corp | UNP | 13,082 | $3.1M | 0.35% |
| 40 | Capital One Financial | 14040H105 | 13,925 | $3.0M | 0.34% |
| 41 | Nextera Energy | NEE-PW | 38,166 | $2.9M | 0.33% |
| 42 | S&P DEP Receipts | SPY | 4,122 | $2.7M | 0.31% |
| 43 | Lowes Companies Inc | 548661107 | 10,822 | $2.7M | 0.31% |
| 44 | TJX Inc | 872540109 | 18,396 | $2.7M | 0.30% |
| 45 | Accenture Plc | ACN | 10,629 | $2.6M | 0.30% |
| 46 | Tractor Supply Company | TSCO | 45,280 | $2.6M | 0.29% |
| 47 | American Tower REIT | 03027X100 | 13,315 | $2.6M | 0.29% |
| 48 | Danaher Corp | 235851102 | 12,438 | $2.5M | 0.28% |
| 49 | Vanguard Total Stock Market ETF | 922908769 | 7,473 | $2.5M | 0.28% |
| 50 | Mastercard Inc | MA | 4,238 | $2.4M | 0.28% |
| 51 | Waste Management Inc | 94106L109 | 10,786 | $2.4M | 0.27% |
| 52 | T-Mobile US | TMUSZ | 9,777 | $2.3M | 0.27% |
| 53 | American Express Co | AXP | 6,937 | $2.3M | 0.26% |
| 54 | McDonald's Corp | MCD | 7,568 | $2.3M | 0.26% |
| 55 | Oracle Corp | ORCL-PD | 8,030 | $2.3M | 0.26% |
| 56 | Blackstone Inc | BX | 12,511 | $2.1M | 0.24% |
| 57 | Darden Restaurants Inc | DRI | 10,723 | $2.0M | 0.23% |
| 58 | Icici Bank Ltd Adr | IBN | 67,438 | $2.0M | 0.23% |
| 59 | Adobe Inc | ADBE | 5,723 | $2.0M | 0.23% |
| 60 | Axalta Coating Systems | AXTA | 65,676 | $1.9M | 0.22% |
| 61 | Vanguard Total Interntl Stk | 921909768 | 25,264 | $1.9M | 0.21% |
| 62 | Deere & Co | DE | 3,999 | $1.8M | 0.21% |
| 63 | Ulta Beauty Inc. | ULTA | 3,293 | $1.8M | 0.21% |
| 64 | International Business Machines Corp | INTR | 6,304 | $1.8M | 0.20% |
| 65 | iShares S&P Smallcap 600 | 464287804 | 14,928 | $1.8M | 0.20% |
| 66 | Chubb Corp. | CB | 6,237 | $1.8M | 0.20% |
| 67 | Synopsys Inc | SNPS | 3,556 | $1.8M | 0.20% |
| 68 | Uber Technologies Inc | UBER | 17,637 | $1.7M | 0.20% |
| 69 | Zscaler Inc | ZS | 5,608 | $1.7M | 0.19% |
| 70 | Intercontinental Exchange | 45866F104 | 9,559 | $1.6M | 0.18% |
| 71 | Fiserv Inc | FISV | 12,325 | $1.6M | 0.18% |
| 72 | Pepsico Inc. | PEP | 11,024 | $1.5M | 0.18% |
| 73 | Vanguard Mid Cap Growth | 922908538 | 5,150 | $1.5M | 0.17% |
| 74 | Freeport McMoRan | FCX | 37,934 | $1.5M | 0.17% |
| 75 | Viking Holdings | VIK | 23,785 | $1.5M | 0.17% |
| 76 | Nike Inc | NKE | 21,098 | $1.5M | 0.17% |
| 77 | Meta Platforms Inc | META | 1,962 | $1.4M | 0.16% |
| 78 | Kimberly Clark Corp | KMB | 11,482 | $1.4M | 0.16% |
| 79 | Pfizer Inc. | PFE | 53,638 | $1.4M | 0.16% |
| 80 | First Solar Inc | FSLR | 6,127 | $1.4M | 0.15% |
| 81 | Shopify Inc | SHOP | 8,978 | $1.3M | 0.15% |
| 82 | Chevron Corp. | CVX | 8,550 | $1.3M | 0.15% |
| 83 | Southern Company | SOMN | 13,878 | $1.3M | 0.15% |
| 84 | Mettler Toledo Intl Inc | MTD | 1,061 | $1.3M | 0.15% |
| 85 | Honeywell International | 438516106 | 6,163 | $1.3M | 0.15% |
| 86 | ASML Holdings NV | ASMLF | 1,334 | $1.3M | 0.15% |
| 87 | Boston Scientific Corp | BSX | 13,145 | $1.3M | 0.15% |
| 88 | Starbucks Corp | SBUX | 14,892 | $1.3M | 0.14% |
| 89 | Mondelez International | 609207105 | 20,158 | $1.3M | 0.14% |
| 90 | RyanAir Holdings PLC | RYAOF | 20,689 | $1.2M | 0.14% |
| 91 | Ares Capital Corp | ARCC | 60,770 | $1.2M | 0.14% |
| 92 | CME Group Inc | CME | 4,571 | $1.2M | 0.14% |
| 93 | Infosys Technologies Ltd | INFY | 74,840 | $1.2M | 0.14% |
| 94 | Novo Nordisk | NONOF | 21,874 | $1.2M | 0.14% |
| 95 | Diamondback Energy | FANG | 8,479 | $1.2M | 0.14% |
| 96 | L3Harris Technologies | LHX | 3,892 | $1.2M | 0.14% |
| 97 | Datadog Inc | DDOG | 8,310 | $1.2M | 0.14% |
| 98 | Edwards Lifesciences Corp | EW | 15,085 | $1.2M | 0.13% |
| 99 | NXP Semiconductors N.V. | NXPI | 5,047 | $1.1M | 0.13% |
| 100 | Trane Technologies Plc | TT | 2,716 | $1.1M | 0.13% |
| 101 | UnitedHealth Group | UNH | 3,249 | $1.1M | 0.13% |
| 102 | Corteva Agriscience Inc | CTVA | 16,129 | $1.1M | 0.12% |
| 103 | Procter & Gamble Co. | 742718109 | 7,040 | $1.1M | 0.12% |
| 104 | Vulcan Materials Company | 929160109 | 3,513 | $1.1M | 0.12% |
| 105 | Borg Warner Inc | BWA | 24,535 | $1.1M | 0.12% |
| 106 | Rydex S&P Equal Weight ETF | IVZ | 5,622 | $1.1M | 0.12% |
| 107 | Cencora Inc | COR | 3,408 | $1.1M | 0.12% |
| 108 | Yum! Brands Inc | YUM | 6,899 | $1.0M | 0.12% |
| 109 | Walt Disney Co | 254687106 | 8,902 | $1.0M | 0.12% |
| 110 | Wal-Mart Stores Inc. | WMT | 9,887 | $1.0M | 0.12% |
| 111 | Bank of America Corp | 060505104 | 19,495 | $1.0M | 0.12% |
| 112 | Vanguard Small Cap Value | 922908611 | 4,741 | $989,412 | 0.11% |
| 113 | Prologis Inc | PLDGP | 8,638 | $989,224 | 0.11% |
| 114 | Duke Energy Corp. | DUKB | 7,944 | $983,009 | 0.11% |
| 115 | Ishares MSCI India Index | 46429B598 | 18,746 | $975,917 | 0.11% |
| 116 | Autodesk Inc | ADSK | 2,927 | $929,820 | 0.11% |
| 117 | McKesson Corp | MCK | 1,190 | $919,323 | 0.11% |
| 118 | Cisco Systems Inc | CSCO | 13,272 | $908,084 | 0.10% |
| 119 | Sportradar Group | SRAD | 32,627 | $877,666 | 0.10% |
| 120 | Automatic Data Processing Inc | ADP | 2,959 | $868,467 | 0.10% |
| 121 | Analog Devices Inc | ADI | 3,515 | $863,636 | 0.10% |
| 122 | Coca Cola Co. | KO | 12,770 | $846,906 | 0.10% |
| 123 | Air Products and Chemicals Inc | AIIR | 3,103 | $846,250 | 0.10% |
| 124 | Cintas Corp | CTAS | 4,000 | $821,040 | 0.09% |
| 125 | iShares Russell Midcap Index Fd | 464287499 | 8,363 | $807,448 | 0.09% |
| 126 | Marvell Technology Group | MRVL | 9,600 | $807,072 | 0.09% |
| 127 | GXO Logistics Inc | GXO | 15,189 | $803,346 | 0.09% |
| 128 | Technology Select Sector SPDR Fund | 81369Y803 | 2,850 | $803,301 | 0.09% |
| 129 | Expand Energy Corp | EXE | 7,118 | $756,216 | 0.09% |
| 130 | Welltower Inc | WELL | 4,076 | $726,099 | 0.08% |
| 131 | Cigna Corporation | 125523100 | 2,504 | $721,778 | 0.08% |
| 132 | Trip.com Group Ltd | TRPCF | 9,442 | $710,038 | 0.08% |
| 133 | Schwab International Equity Fund | 808524805 | 30,153 | $701,957 | 0.08% |
| 134 | Brookfield Renewable Partners LP | G16258108 | 26,657 | $687,484 | 0.08% |
| 135 | Lockheed Martin Corp | LMT | 1,350 | $673,934 | 0.08% |
| 136 | Carrier Global Corp | CARR | 11,240 | $671,028 | 0.08% |
| 137 | Fortive Corp | FTV | 13,654 | $668,909 | 0.08% |
| 138 | iShares MSCI Japan Index Fund | 46434G822 | 7,921 | $635,343 | 0.07% |
| 139 | Corning Inc | GLW | 7,675 | $629,580 | 0.07% |
| 140 | Vanguard Dividend Appreciation ETF | 921908844 | 2,886 | $622,807 | 0.07% |
| 141 | Schwab US Dividend Equity ETF | 808524797 | 22,641 | $618,089 | 0.07% |
| 142 | Carnival Corp | CUKPF | 21,129 | $610,839 | 0.07% |
| 143 | iShares TIPS Bond Fund | 464287176 | 5,200 | $578,344 | 0.07% |
| 144 | PNC Financial Services Group Inc | 693475105 | 2,833 | $569,235 | 0.07% |
| 145 | Ishares Tr Russell 2000 Index Fd | 464287655 | 2,312 | $559,412 | 0.06% |
| 146 | Constellation Brands Inc | STZ | 4,102 | $552,416 | 0.06% |
| 147 | Itau UniBanco Multiplo ADR | 465562106 | 72,288 | $530,594 | 0.06% |
| 148 | Iqvia Hldgs Inc | IQV | 2,758 | $523,855 | 0.06% |
| 149 | Cummins Inc | CMI | 1,240 | $523,739 | 0.06% |
| 150 | Leidos Holdings Inc | LDOS | 2,750 | $519,640 | 0.06% |
| 151 | Sherwin Williams Co | SHW | 1,467 | $507,963 | 0.06% |
| 152 | Check Point Software Technologies | M22465104 | 2,451 | $507,136 | 0.06% |
| 153 | Schwab US Broad Market ETF | 808524102 | 19,195 | $493,508 | 0.06% |
| 154 | Vanguard Mid Cap Value | 922908512 | 2,808 | $490,134 | 0.06% |
| 155 | SHELL ADR EACH REP 2 ORD WI | RYDAF | 6,672 | $477,248 | 0.05% |
| 156 | Vanguard FTSE Emerging Mkt ETF | 922042858 | 8,672 | $469,849 | 0.05% |
| 157 | RPM International Inc | 749685103 | 3,975 | $468,573 | 0.05% |
| 158 | Merck & Co Inc | MRK | 5,570 | $467,490 | 0.05% |
| 159 | Colgate Palmolive Co | CL | 5,772 | $461,414 | 0.05% |
| 160 | Parker Hannifin Corp | PH | 603 | $457,164 | 0.05% |
| 161 | Comcast Corp | CCZ | 13,918 | $437,304 | 0.05% |
| 162 | Cabot Corporation | CBT | 5,730 | $435,767 | 0.05% |
| 163 | Allstate Corp | ALL-PJ | 1,992 | $427,583 | 0.05% |
| 164 | Eagle Materials Inc | 26969P108 | 1,800 | $419,472 | 0.05% |
| 165 | Amrize AG | AMRZ | 8,605 | $417,601 | 0.05% |
| 166 | Baidu Inc ADR | BAIDF | 3,102 | $408,751 | 0.05% |
| 167 | HSBC PLC Spon ADR | HBCYF | 5,707 | $405,083 | 0.05% |
| 168 | Johnson Controls Inc | G51502105 | 3,464 | $380,867 | 0.04% |
| 169 | iShares Trust Dow Jones US Tech Fund | 464287721 | 1,930 | $378,010 | 0.04% |
| 170 | Bristol-Myers Squibb | CELG-RI | 8,369 | $377,434 | 0.04% |
| 171 | Crowdstrike Hldgs Inc | CRWD | 765 | $375,141 | 0.04% |
| 172 | iShares MSCI EAFE Index Fund | 464287465 | 3,825 | $357,140 | 0.04% |
| 173 | Dutch Bros Inc | BROS | 6,820 | $356,959 | 0.04% |
| 174 | Phillips 66 | PSX | 2,600 | $353,652 | 0.04% |
| 175 | Texas Instruments, Inc. | 882508104 | 1,777 | $326,488 | 0.04% |
| 176 | Tesla Inc | TSLA | 734 | $326,424 | 0.04% |
| 177 | Aon PLC | AON | 900 | $320,922 | 0.04% |
| 178 | VERALTO ORD WI | VLTO | 2,961 | $315,676 | 0.04% |
| 179 | Canadian Pacific Kansas City Ltd | CP | 4,185 | $311,741 | 0.04% |
| 180 | Dell Inc | DELL | 2,178 | $308,775 | 0.04% |
| 181 | Industrial Select Sector SPDR Fund | 81369Y704 | 1,970 | $303,833 | 0.03% |
| 182 | Immunome, Inc. | IMNM | 25,394 | $297,364 | 0.03% |
| 183 | Exelon Corporation | EXC | 6,450 | $290,315 | 0.03% |
| 184 | HubSpot Inc | HUBS | 617 | $288,633 | 0.03% |
| 185 | Cambria Shareholder Yield ETF | 132061201 | 4,179 | $286,944 | 0.03% |
| 186 | Sysco Corp | SYY | 3,475 | $286,132 | 0.03% |
| 187 | Xylem Inc | XYL | 1,907 | $281,283 | 0.03% |
| 188 | C S X Corp | CSX | 7,883 | $279,925 | 0.03% |
| 189 | GE Vernova Inc. | GEV | 437 | $268,711 | 0.03% |
| 190 | Avantis US Small Cap Value ETF | 025072877 | 2,625 | $261,290 | 0.03% |
| 191 | Kyndryl Holdings | KD | 8,380 | $251,651 | 0.03% |
| 192 | Qualcomm Inc | QCOM | 1,462 | $243,218 | 0.03% |
| 193 | Public Service Enterprise Group | 744573106 | 2,900 | $242,034 | 0.03% |
| 194 | Dover Corp | DOV | 1,450 | $241,904 | 0.03% |
| 195 | Ishares Tr S&P Midcap | 464287507 | 3,620 | $236,241 | 0.03% |
| 196 | FedEx Corp | FDX | 977 | $230,386 | 0.03% |
| 197 | Powershares QQQ Trust | IVZ | 383 | $230,108 | 0.03% |
| 198 | Nucor Corp | NUE | 1,680 | $227,522 | 0.03% |
| 199 | Schwab US Small Cap ETF | 808524607 | 8,147 | $227,292 | 0.03% |
| 200 | Vanguard Mid-Cap ETF | 922908629 | 771 | $226,370 | 0.03% |
| 201 | SPDR Gold Trust | GLD | 625 | $222,169 | 0.03% |
| 202 | Vanguard FTSE Developed Markets ETF | 921943858 | 3,682 | $220,654 | 0.03% |
| 203 | Progressive Corp | 743315103 | 887 | $219,045 | 0.03% |
| 204 | Micron Technology Inc | MU | 1,300 | $217,516 | 0.02% |
| 205 | Emerson Electric Co | EMR | 1,587 | $208,183 | 0.02% |
| 206 | Mizuho Financial Group Inc | MZHOF | 28,800 | $192,960 | 0.02% |
| 207 | Ocugen Inc | OCGN | 25,000 | $40,750 | 0.00% |