13F HOLDINGS REPORT
Baldwin Investment Management, LLC
Quarter ended Q4 2025 · Filed February 13, 2026 · Accession 0001346378-26-000001
Total Value
$885.8M
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 | $419.7M | 47.38% |
| 2 | Broadcom Limited | AVGO | 73,420 | $25.4M | 2.87% |
| 3 | Nvidia Corp | NVDA | 115,629 | $21.6M | 2.43% |
| 4 | Apple Inc | AAPL | 69,950 | $19.0M | 2.15% |
| 5 | Lam Research Corp | LRCX | 98,134 | $16.8M | 1.90% |
| 6 | Microsoft Corp | MSFT | 32,411 | $15.7M | 1.77% |
| 7 | J.P. Morgan Chase & Co | VYLD | 48,114 | $15.5M | 1.75% |
| 8 | Eli Lilly & Company | LLY | 10,976 | $11.8M | 1.33% |
| 9 | Alphabet Inc Class A | GOOG | 33,629 | $10.5M | 1.19% |
| 10 | Costco Wholesale Corp | 22160K105 | 11,356 | $9.8M | 1.11% |
| 11 | Amazon.com Inc | AMZN | 41,192 | $9.5M | 1.07% |
| 12 | Berkshire Hathaway Inc B | BRK-A | 18,174 | $9.1M | 1.03% |
| 13 | RTX Corp | RTX | 44,853 | $8.2M | 0.93% |
| 14 | Visa Inc. | V | 21,322 | $7.5M | 0.84% |
| 15 | Vertex Pharmaceuticals | VRTX | 15,554 | $7.1M | 0.80% |
| 16 | Exxon Mobil Corporation | XOM | 56,311 | $6.8M | 0.77% |
| 17 | Abbvie Inc | ABBV | 28,549 | $6.5M | 0.74% |
| 18 | Enterprise Products Partners | 293792107 | 191,988 | $6.2M | 0.69% |
| 19 | Intuitive Surgical | ISRG | 10,566 | $6.0M | 0.68% |
| 20 | Vanguard S&P 500 Etf | 922908363 | 8,884 | $5.6M | 0.63% |
| 21 | Goldman Sachs Group Inc | GSCE | 6,308 | $5.5M | 0.63% |
| 22 | S&P Global Inc | SPGI | 10,471 | $5.5M | 0.62% |
| 23 | Taiwan Semiconductor Manufacturing ADR | 874039100 | 16,507 | $5.0M | 0.57% |
| 24 | Abbott Laboratories | ABLZF | 39,556 | $5.0M | 0.56% |
| 25 | Blackrock Inc | BLK | 4,617 | $4.9M | 0.56% |
| 26 | Alphabet Inc Class C | GOOG | 15,441 | $4.8M | 0.55% |
| 27 | Linde PLC | LIN | 11,292 | $4.8M | 0.54% |
| 28 | Thermo Fisher Scientific | TMO | 8,112 | $4.7M | 0.53% |
| 29 | Caterpillar Inc | CAT | 8,199 | $4.7M | 0.53% |
| 30 | Palo Alto Networks | PANW | 24,648 | $4.5M | 0.51% |
| 31 | Eaton Corp | ETN | 12,935 | $4.1M | 0.47% |
| 32 | Rockwell Automation | ROK | 10,382 | $4.0M | 0.46% |
| 33 | Vertiv Holdings Co | VRT | 24,032 | $3.9M | 0.44% |
| 34 | Home Depot Inc | HD | 11,043 | $3.8M | 0.43% |
| 35 | Johnson & Johnson | JNJ | 17,710 | $3.7M | 0.41% |
| 36 | Capital One Financial | 14040H105 | 14,790 | $3.6M | 0.40% |
| 37 | Morgan Stanley & Co | MS-PQ | 19,673 | $3.5M | 0.39% |
| 38 | Baker Hughes Co | BKR | 74,146 | $3.4M | 0.38% |
| 39 | Nextera Energy | NEE-PW | 37,707 | $3.0M | 0.34% |
| 40 | Union Pacific Corp | UNP | 12,793 | $3.0M | 0.33% |
| 41 | TJX Inc | 872540109 | 18,196 | $2.8M | 0.32% |
| 42 | S&P DEP Receipts | SPY | 4,097 | $2.8M | 0.32% |
| 43 | Danaher Corp | 235851102 | 12,100 | $2.8M | 0.31% |
| 44 | Zoetis Inc | ZTS | 21,817 | $2.7M | 0.31% |
| 45 | Accenture Plc | ACN | 9,899 | $2.7M | 0.30% |
| 46 | Vanguard Total Stock Market ETF | 922908769 | 7,637 | $2.6M | 0.29% |
| 47 | American Express Co | AXP | 6,860 | $2.5M | 0.29% |
| 48 | Lowes Companies Inc | 548661107 | 10,232 | $2.5M | 0.28% |
| 49 | Mastercard Inc | MA | 4,238 | $2.4M | 0.27% |
| 50 | Waste Management Inc | 94106L109 | 10,786 | $2.4M | 0.27% |
| 51 | McDonald's Corp | MCD | 7,563 | $2.3M | 0.26% |
| 52 | Darden Restaurants Inc | DRI | 12,046 | $2.2M | 0.25% |
| 53 | Tractor Supply Company | TSCO | 44,200 | $2.2M | 0.25% |
| 54 | Ulta Beauty Inc. | ULTA | 3,389 | $2.1M | 0.23% |
| 55 | Icici Bank Ltd Adr | IBN | 67,438 | $2.0M | 0.23% |
| 56 | International Business Machines Corp | INTR | 6,709 | $2.0M | 0.22% |
| 57 | Chubb Corp. | CB | 6,293 | $2.0M | 0.22% |
| 58 | T-Mobile US | TMUSZ | 9,605 | $2.0M | 0.22% |
| 59 | Vanguard Total Interntl Stk | 921909768 | 25,743 | $1.9M | 0.22% |
| 60 | Freeport McMoRan | FCX | 37,312 | $1.9M | 0.21% |
| 61 | Axalta Coating Systems | AXTA | 58,304 | $1.9M | 0.21% |
| 62 | Adobe Inc | ADBE | 5,366 | $1.9M | 0.21% |
| 63 | Blackstone Inc | BX | 12,009 | $1.9M | 0.21% |
| 64 | American Tower REIT | 03027X100 | 10,301 | $1.8M | 0.20% |
| 65 | iShares S&P Smallcap 600 | 464287804 | 14,778 | $1.8M | 0.20% |
| 66 | Pepsico Inc. | PEP | 11,669 | $1.7M | 0.19% |
| 67 | Viking Holdings | VIK | 23,005 | $1.6M | 0.19% |
| 68 | First Solar Inc | FSLR | 6,013 | $1.6M | 0.18% |
| 69 | Zscaler Inc | ZS | 6,887 | $1.5M | 0.17% |
| 70 | Deere & Co | DE | 3,295 | $1.5M | 0.17% |
| 71 | Meta Platforms Inc | META | 2,322 | $1.5M | 0.17% |
| 72 | RyanAir Holdings PLC | RYAOF | 20,689 | $1.5M | 0.17% |
| 73 | Southern Company | SOMN | 17,037 | $1.5M | 0.17% |
| 74 | Mettler Toledo Intl Inc | MTD | 1,061 | $1.5M | 0.17% |
| 75 | Synopsys Inc | SNPS | 3,099 | $1.5M | 0.16% |
| 76 | Intercontinental Exchange | 45866F104 | 8,964 | $1.5M | 0.16% |
| 77 | Autodesk Inc | ADSK | 4,832 | $1.4M | 0.16% |
| 78 | ASML Holdings NV | ASMLF | 1,334 | $1.4M | 0.16% |
| 79 | Oracle Corp | ORCL-PD | 7,320 | $1.4M | 0.16% |
| 80 | Vanguard Mid Cap Growth | 922908538 | 5,000 | $1.4M | 0.16% |
| 81 | Nike Inc | NKE | 21,601 | $1.4M | 0.16% |
| 82 | Shopify Inc | SHOP | 8,423 | $1.4M | 0.15% |
| 83 | Infosys Technologies Ltd | INFY | 74,840 | $1.3M | 0.15% |
| 84 | Chevron Corp. | CVX | 8,550 | $1.3M | 0.15% |
| 85 | Uber Technologies Inc | UBER | 15,775 | $1.3M | 0.15% |
| 86 | Edwards Lifesciences Corp | EW | 15,095 | $1.3M | 0.15% |
| 87 | Diamondback Energy | FANG | 8,363 | $1.3M | 0.14% |
| 88 | Ares Capital Corp | ARCC | 61,575 | $1.2M | 0.14% |
| 89 | Starbucks Corp | SBUX | 14,700 | $1.2M | 0.14% |
| 90 | CME Group Inc | CME | 4,469 | $1.2M | 0.14% |
| 91 | Boston Scientific Corp | BSX | 12,785 | $1.2M | 0.14% |
| 92 | Honeywell International | 438516106 | 5,975 | $1.2M | 0.13% |
| 93 | Datadog Inc | DDOG | 8,530 | $1.2M | 0.13% |
| 94 | Cencora Inc | COR | 3,408 | $1.2M | 0.13% |
| 95 | Kimberly Clark Corp | KMB | 11,332 | $1.1M | 0.13% |
| 96 | L3Harris Technologies | LHX | 3,892 | $1.1M | 0.13% |
| 97 | Walt Disney Co | 254687106 | 10,042 | $1.1M | 0.13% |
| 98 | Novo Nordisk | NONOF | 21,549 | $1.1M | 0.12% |
| 99 | Wal-Mart Stores Inc. | WMT | 9,787 | $1.1M | 0.12% |
| 100 | Borg Warner Inc | BWA | 24,007 | $1.1M | 0.12% |
| 101 | Dutch Bros Inc | BROS | 17,535 | $1.1M | 0.12% |
| 102 | Corteva Agriscience Inc | CTVA | 15,929 | $1.1M | 0.12% |
| 103 | Rydex S&P Equal Weight ETF | IVZ | 5,536 | $1.1M | 0.12% |
| 104 | Mondelez International | 609207105 | 19,682 | $1.1M | 0.12% |
| 105 | Trane Technologies Plc | TT | 2,670 | $1.0M | 0.12% |
| 106 | Prologis Inc | PLDGP | 8,133 | $1.0M | 0.12% |
| 107 | Bank of America Corp | 060505104 | 18,475 | $1.0M | 0.11% |
| 108 | Cisco Systems Inc | CSCO | 13,172 | $1.0M | 0.11% |
| 109 | Ishares MSCI India Index | 46429B598 | 18,746 | $1.0M | 0.11% |
| 110 | Immunome, Inc. | IMNM | 47,167 | $1.0M | 0.11% |
| 111 | Yum! Brands Inc | YUM | 6,672 | $1.0M | 0.11% |
| 112 | Vanguard Small Cap Value | 922908611 | 4,654 | $985,766 | 0.11% |
| 113 | McKesson Corp | MCK | 1,185 | $972,044 | 0.11% |
| 114 | Pfizer Inc. | PFE | 38,448 | $957,355 | 0.11% |
| 115 | UnitedHealth Group | UNH | 2,874 | $948,736 | 0.11% |
| 116 | Vulcan Materials Company | 929160109 | 3,238 | $923,542 | 0.10% |
| 117 | NXP Semiconductors N.V. | NXPI | 4,235 | $919,249 | 0.10% |
| 118 | Duke Energy Corp. | DUKB | 7,826 | $917,341 | 0.10% |
| 119 | Coca Cola Co. | KO | 12,720 | $889,255 | 0.10% |
| 120 | Marvell Technology Group | MRVL | 10,205 | $867,221 | 0.10% |
| 121 | Procter & Gamble Co. | 742718109 | 5,913 | $847,323 | 0.10% |
| 122 | Expand Energy Corp | EXE | 7,583 | $836,860 | 0.09% |
| 123 | Technology Select Sector SPDR Fund | 81369Y803 | 5,700 | $820,629 | 0.09% |
| 124 | Analog Devices Inc | ADI | 3,010 | $816,312 | 0.09% |
| 125 | iShares Russell Midcap Index Fd | 464287499 | 8,363 | $805,106 | 0.09% |
| 126 | Automatic Data Processing Inc | ADP | 3,104 | $798,442 | 0.09% |
| 127 | Dell Inc | DELL | 6,317 | $795,184 | 0.09% |
| 128 | GXO Logistics Inc | GXO | 14,992 | $789,179 | 0.09% |
| 129 | Sportradar Group | SRAD | 32,627 | $775,544 | 0.09% |
| 130 | Air Products and Chemicals Inc | AIIR | 3,103 | $766,503 | 0.09% |
| 131 | Welltower Inc | WELL | 4,076 | $756,546 | 0.09% |
| 132 | Cintas Corp | CTAS | 4,000 | $752,280 | 0.08% |
| 133 | Schwab International Equity Fund | 808524805 | 30,153 | $724,873 | 0.08% |
| 134 | Cigna Corporation | 125523100 | 2,500 | $688,075 | 0.08% |
| 135 | Fortive Corp | FTV | 12,461 | $687,972 | 0.08% |
| 136 | Trip.com Group Ltd | TRPCF | 9,442 | $678,974 | 0.08% |
| 137 | Carnival Corp | CUKPF | 21,049 | $642,836 | 0.07% |
| 138 | iShares MSCI Japan Index Fund | 46434G822 | 7,921 | $639,542 | 0.07% |
| 139 | Vanguard Dividend Appreciation ETF | 921908844 | 2,899 | $637,237 | 0.07% |
| 140 | Cummins Inc | CMI | 1,240 | $632,958 | 0.07% |
| 141 | Corning Inc | GLW | 7,200 | $630,432 | 0.07% |
| 142 | Lockheed Martin Corp | LMT | 1,275 | $616,679 | 0.07% |
| 143 | Schwab US Dividend Equity ETF | 808524797 | 21,333 | $585,165 | 0.07% |
| 144 | Carrier Global Corp | CARR | 11,040 | $583,354 | 0.07% |
| 145 | Brookfield Renewable Partners LP | G16258108 | 21,459 | $578,749 | 0.07% |
| 146 | Iqvia Hldgs Inc | IQV | 2,558 | $576,599 | 0.07% |
| 147 | iShares TIPS Bond Fund | 464287176 | 5,200 | $571,532 | 0.06% |
| 148 | Ishares Tr Russell 2000 Index Fd | 464287655 | 2,312 | $569,122 | 0.06% |
| 149 | Merck & Co Inc | MRK | 5,370 | $565,246 | 0.06% |
| 150 | PNC Financial Services Group Inc | 693475105 | 2,708 | $565,241 | 0.06% |
| 151 | Itau UniBanco Multiplo ADR | 465562106 | 74,449 | $533,058 | 0.06% |
| 152 | Parker Hannifin Corp | PH | 603 | $530,013 | 0.06% |
| 153 | Schwab US Broad Market ETF | 808524102 | 19,204 | $503,722 | 0.06% |
| 154 | Vanguard Mid Cap Value | 922908512 | 2,833 | $502,538 | 0.06% |
| 155 | Leidos Holdings Inc | LDOS | 2,750 | $496,100 | 0.06% |
| 156 | Boeing Co | BA-PA | 2,247 | $487,869 | 0.06% |
| 157 | Amrize AG | AMRZ | 8,980 | $485,638 | 0.05% |
| 158 | NVR Inc | NVR | 65 | $474,030 | 0.05% |
| 159 | Vanguard FTSE Emerging Mkt ETF | 922042858 | 8,688 | $467,062 | 0.05% |
| 160 | Check Point Software Technologies | M22465104 | 2,451 | $454,808 | 0.05% |
| 161 | Bristol-Myers Squibb | CELG-RI | 8,375 | $451,741 | 0.05% |
| 162 | HSBC PLC Spon ADR | HBCYF | 5,707 | $448,970 | 0.05% |
| 163 | Colgate Palmolive Co | CL | 5,563 | $439,588 | 0.05% |
| 164 | Johnson Controls Inc | G51502105 | 3,464 | $414,814 | 0.05% |
| 165 | Baidu Inc ADR | BAIDF | 3,102 | $405,307 | 0.05% |
| 166 | Sherwin Williams Co | SHW | 1,232 | $399,205 | 0.05% |
| 167 | Crowdstrike Hldgs Inc | CRWD | 840 | $393,758 | 0.04% |
| 168 | iShares Trust Dow Jones US Tech Fund | 464287721 | 1,930 | $385,382 | 0.04% |
| 169 | Allstate Corp | ALL-PJ | 1,850 | $385,078 | 0.04% |
| 170 | Eagle Materials Inc | 26969P108 | 1,800 | $372,024 | 0.04% |
| 171 | Micron Technology Inc | MU | 1,300 | $371,033 | 0.04% |
| 172 | iShares MSCI EAFE Index Fund | 464287465 | 3,825 | $367,315 | 0.04% |
| 173 | Cabot Corporation | CBT | 5,530 | $366,528 | 0.04% |
| 174 | Comcast Corp | CCZ | 12,253 | $366,242 | 0.04% |
| 175 | Phillips 66 | PSX | 2,600 | $335,504 | 0.04% |
| 176 | Tesla Inc | TSLA | 729 | $327,846 | 0.04% |
| 177 | RPM International Inc | 749685103 | 3,150 | $327,600 | 0.04% |
| 178 | Aon PLC | AON | 900 | $317,592 | 0.04% |
| 179 | Netflix Inc | NFLX | 3,340 | $313,158 | 0.04% |
| 180 | Canadian Pacific Kansas City Ltd | CP | 4,185 | $308,142 | 0.03% |
| 181 | Cambria Shareholder Yield ETF | 132061201 | 4,189 | $291,249 | 0.03% |
| 182 | Industrial Select Sector SPDR Fund | 81369Y704 | 1,870 | $290,074 | 0.03% |
| 183 | C S X Corp | CSX | 7,883 | $285,759 | 0.03% |
| 184 | Dover Corp | DOV | 1,450 | $283,098 | 0.03% |
| 185 | FedEx Corp | FDX | 977 | $282,216 | 0.03% |
| 186 | Exelon Corporation | EXC | 6,450 | $281,156 | 0.03% |
| 187 | Vanguard FTSE Developed Markets ETF | 921943858 | 4,491 | $280,568 | 0.03% |
| 188 | Avantis US Small Cap Value ETF | 025072877 | 2,750 | $280,469 | 0.03% |
| 189 | Nucor Corp | NUE | 1,678 | $273,699 | 0.03% |
| 190 | SHELL ADR EACH REP 2 ORD WI | RYDAF | 3,629 | $266,659 | 0.03% |
| 191 | Xylem Inc | XYL | 1,907 | $259,695 | 0.03% |
| 192 | Sysco Corp | SYY | 3,475 | $256,073 | 0.03% |
| 193 | SPDR Gold Trust | GLD | 625 | $247,694 | 0.03% |
| 194 | Ishares Tr S&P Midcap | 464287507 | 3,620 | $238,920 | 0.03% |
| 195 | Qualcomm Inc | QCOM | 1,365 | $233,483 | 0.03% |
| 196 | GE Vernova Inc. | GEV | 357 | $233,324 | 0.03% |
| 197 | Public Service Enterprise Group | 744573106 | 2,900 | $232,870 | 0.03% |
| 198 | Schwab US Small Cap ETF | 808524607 | 8,154 | $232,213 | 0.03% |
| 199 | Vanguard Mid-Cap ETF | 922908629 | 776 | $225,073 | 0.03% |
| 200 | VERALTO ORD WI | VLTO | 2,230 | $222,514 | 0.03% |
| 201 | Wells Fargo & Co. | 949746101 | 2,372 | $221,030 | 0.02% |
| 202 | Incyte Corporation | INCY | 2,140 | $211,368 | 0.02% |
| 203 | Mizuho Financial Group Inc | MZHOF | 28,800 | $210,816 | 0.02% |
| 204 | Emerson Electric Co | EMR | 1,587 | $210,627 | 0.02% |
| 205 | Powershares QQQ Trust | IVZ | 335 | $205,964 | 0.02% |
| 206 | Progressive Corp | 743315103 | 881 | $200,621 | 0.02% |
| 207 | Ocugen Inc | OCGN | 25,000 | $33,750 | 0.00% |