Baldwin Investment Management, LLC

Registered adviser

CIK

1346378

Location

WEST CONSHOHOCKEN, PA

Portfolio Value

Mid $1,033,771,792

Diversification

Moderately concentrated

Filing Date

Global Rank

#2,475 / 8,827 ▲ 87

Top Industry

Insurance - Diversified 42.8%

Period ended 4 months ago

Filed Jul 28, 2026 · 3mo

26 quarters · since Mar 2020

Regulatory profile

From Form ADV, the SEC filer profile, 13D/13G type codes and N-CEN, never from the name.

Holder type

Registered adviser

Form ADV roster, Nov 1, 2026

Form ADV adviser

CRD 108922

Roster of Nov 1, 2026

Regulatory AUM

$1,295,038,694

Main clients

Individuals and high net worth (91% of AUM)

Form ADV history

Monthly rosters from Dec 2019; each row is a run with the same figures, newest first.

Rosters	Regulatory AUM	Main clients
Apr 2026 to Nov 2026	$1,295,038,694	Individuals and high net worth (91%)
Apr 2025 to Mar 2026	$1,234,272,924	Individuals and high net worth (91%)
Apr 2024 to Mar 2025	$1,087,072,004	Individuals and high net worth (92%)
May 2023 to Mar 2024	$1,028,818,592	Individuals and high net worth (92%)
Apr 2023	$1,028,818,592	Individuals and high net worth (92%)
Apr 2022 to Mar 2023	$1,142,281,528	Individuals and high net worth (91%)

3 earlier changes not shown.

Portfolio style

Measured from the filed 13F common-share book for Jun 30, 2026, never from the firm's own description.

Style

Concentrated

The top 10 positions are 61.3% of the book (60%+)

Turnover

Low turnover

5.1% over the last four quarters (under 30%)

Horizon

Long horizon

Value-weighted holding period 15.3 quarters (12+), a floor since 32.7% of the book was already held when coverage starts

Closest benchmark: the S&P 500 as of 2026-06-30, active share 60.8%; sector active share 37.2% against the combined 13F book's sector weights.

Over time 26 measured quarters

How the bands are measured

Style bands measure the filed 13F common-share book each closed quarter, tested in this order. Unknown: under $10,000,000 of valued equity or 5 stocks. Index-like (100+ stocks): active share of 20% or less against the closest benchmark, which is the S&P 500, S&P MidCap 400, S&P SmallCap 600, Russell 1000, Russell 2000, Nasdaq-100 or Dow Jones Industrial Average (weighted by an index-tracking fund's reported holdings or the index's constituents nearest the quarter end, over the names resolved to companies, and only when those are 90%+ of its weight) or every 13F filer's combined book, or index series holding 80%+ of the registered fund assets it advises (N-CEN) and equal to 50%+ of its book. Systematic-like: 500+ stocks, 100%+ annual turnover and a top 10 weight of 25% or less. Concentrated: a top 10 weight of 60%+ or 12 or fewer effective positions. Diversified active: none of these. Turnover is the smaller of buys and sells over average equity value, summed over four quarters: low under 30%, high 100%+. Horizon is the value-weighted number of quarters each position has been held: short under 4, long 12+.

Clone Performance

Build a hypothetical price-return history from this filer's public 13F holdings.

View clone backtest

Portfolio Concentration

231 tracked positions · as of Jun 30, 2026 · Δ vs Mar 31, 2026

Top Position

41.2%

−6.5 pts

Top 5

52.9%

−4.0 pts

Top 10

61.3%

−2.9 pts

HHI

1,763

Moderately concentrated−558

Portfolio Trend

26 quarters · across all stocks

Sector Breakdown

As of Jun 30, 2026

Sector	% Portfolio	Value	Positions
Financial Services	48.4%	$500,628,051	27
Technology	19.2%	$198,567,353	38
Healthcare	6.8%	$69,841,922	26
Industrials	6.6%	$68,317,930	33
Consumer Cyclical	4.3%	$44,888,786	19
Unclassified	3.8%	$39,571,063	41
Communication Services	3.0%	$30,969,696	7
Energy	2.6%	$26,933,291	10
Consumer Defensive	2.4%	$24,950,069	10
Basic Materials	1.3%	$13,774,240	10
Utilities	1.0%	$10,836,976	6
Real Estate	0.4%	$4,492,415	4

Last Quarter's Activity

Export CSV

Jun 30, 2026 vs Mar 31, 2026

Added To

Positions the filer increased

25 positions

Ticker	Company	Δ Shares	Shares	Value
AAPL	Apple Inc.	+29,226	99,797	$28,877,259
NFLX	Netflix Inc	+24,918	31,468	$2,246,815
NEE	Nextera Energy Inc	+24,850	62,458	$5,481,938
NVDA	Nvidia Corp	+20,673	134,950	$27,002,145
RTX	RTX Corp	+17,490	62,019	$11,766,864
KO	Coca Cola Co	+16,235	28,955	$2,353,172
SO	Southern Co	+14,965	33,202	$3,177,763
BKR	Baker Hughes Co	+14,618	86,680	$4,810,740
TJX	Tjx Companies Inc	+13,574	31,845	$4,824,517
JPM	Jpmorgan Chase & Co	+13,017	61,191	$20,029,650
GOOGL	Alphabet Inc.	+12,464	45,918	$16,409,715
XOM	ExxonMobil Holdings Corp	+12,458	67,677	$9,252,799
MSFT	Microsoft Corp	+11,439	44,413	$16,566,937
BWA	Borgwarner Inc	+10,561	36,018	$2,391,595
JNJ	Johnson & Johnson	+9,863	27,516	$6,988,238
PEP	Pepsico Inc	+8,531	20,225	$2,738,465
SCHD	Schwab U.S. Dividend Equity ETF	+8,466	33,305	$1,056,101
PFE	Pfizer Inc	+7,914	44,312	$1,067,032
CVX	Chevron Corp	+7,234	15,784	$2,616,355
LOW	Lowes Companies Inc	+7,008	17,240	$3,801,247
ORCL	Oracle Corp	+6,545	11,520	$1,688,256
VXUS	Vanguard Total International Stock ETF	+6,455	31,368	$2,681,650
TMUS	T-Mobile US, Inc.	+5,556	14,661	$2,459,089
COF	Capital One Financial Corp	+5,071	20,953	$4,203,590
WMT	Walmart Inc.	+5,034	16,621	$1,882,494
No positions match the current search.

Trimmed

Positions the filer reduced

25 positions

Ticker	Company	Δ Shares	Shares	Value
AXTA	Axalta Coating Systems Ltd.	−19,707	34,322	$1,174,498
NKE	NIKE, Inc.	−13,550	8,077	$331,560
BAC	Bank Of America Corp	−10,000	8,475	$482,905
ADSK	Autodesk, Inc.	−7,778	2,879	$559,735
BROS	Dutch Bros Inc.	−7,515	10,920	$784,165
ZTS	Zoetis Inc.	−6,153	15,799	$1,135,316
GXO	GXO Logistics, Inc.	−5,550	9,117	$462,231
CTVA	Corteva, Inc.	−5,000	10,929	$925,577
ICE	Intercontinental Exchange, Inc.	−4,381	4,583	$564,213
LRCX	Lam Research Corp	−3,480	85,114	$36,882,449
INDA	iShares MSCI India ETF	−2,691	11,905	$587,987
MRVL	Marvell Technology, Inc.	−2,439	10,071	$3,000,050
AMRZ	Amrize Ltd	−2,255	6,800	$362,440
ABT	Abbott Laboratories	−1,974	37,845	$3,434,055
KMB	Kimberly Clark Corp	−1,955	6,902	$757,632
ITUB	Itau Unibanco Holding S.A.	−1,878	72,571	$592,905
VIK	Viking Holdings Ltd	−1,660	20,250	$2,119,567
GLW	Corning Inc	−1,640	3,220	$822,484
PLTR	Palantir Technologies Inc.	−1,582	2,094	$244,306
PNC	Pnc Financial Services Group, Inc.	−1,105	1,603	$394,690
INFY	Infosys Ltd	−1,005	73,835	$774,529
GOOG	Alphabet Inc.	−910	14,041	$4,961,106
ADBE	Adobe Inc.	−899	3,262	$668,775
ARCC	Ares Capital Corp	−783	59,409	$1,100,848
IBN	Icici Bank Ltd	−726	73,112	$2,122,441
No positions match the current search.

New Positions

Positions the filer opened this quarter

25 positions

Ticker	Company	Shares	Value
TXN	Texas Instruments Inc	7,349	$2,190,516
HONA	Honeywell Aerospace Inc.	7,035	$1,555,297
SYK	Stryker Corp	2,968	$934,445
IVV	iShares Core S&P 500 ETF	1,047	$784,087
MDT	Medtronic plc	8,826	$690,457
URI	United Rentals, Inc.	593	$671,803
SPCX	Space Exploration Technologies Corp	3,855	$658,665
QUAL	iShares MSCI USA Quality Factor ETF	2,904	$637,224
IEFA	iShares Core MSCI EAFE ETF	5,014	$484,252
MGK	VANGUARD MEGA CAP GROWTH INDEX FUND	5,175	$454,934
IEMG	iShares Trust	4,324	$358,200
JMBS	Janus Henderson Mortgage-Backed Securities ETF	7,844	$352,901
MMM	3M Co	2,150	$348,106
QCOM	Qualcomm Inc	1,835	$339,089
AMAT	Applied Materials Inc	432	$312,336
NVT	nVent Electric plc	1,770	$300,209
Q	Qnity Electronics, Inc.	1,710	$279,260
IGSB	iShares 1-5 Year Investment Grade Corporate Bond ETF	5,273	$276,357
LEN	Lennar Corp	2,875	$260,158
AVDV	Avantis International Small Cap Value ETF	2,500	$257,625
WDFC	Wd 40 Co	985	$239,985
AIS	VistaShares Artificial Intelligence Supercycle ETF	2,700	$230,337
GE	General Electric Co	612	$228,722
KLAC	Kla Corp	750	$226,282
TRV	Travelers Companies, Inc.	675	$222,831
No positions match the current search.

Sold Out

Positions the filer fully exited

7 positions

Ticker	Company	Shares	Value
ZS	Zscaler, Inc.	6,887	$966,177
VMC	Vulcan Materials CO	3,238	$881,707
BSX	Boston Scientific Corp	11,035	$692,446
UBER	Uber Technologies, Inc	6,863	$493,655
CBT	Cabot Corp	5,230	$393,871
EXP	Eagle Materials Inc	1,800	$341,010
TOST	Toast, Inc.	8,450	$224,009
No positions match the current search.

Portfolio Positions

Compact Export CSV View 13F filing

231 tracked positions · $1,033,771,792 total · filing declares 231 positions · $1,033,771,748 · as of Jun 30, 2026

All sectors Basic Materials Communication Services Consumer Cyclical Consumer Defensive Energy Financial Services Healthcare Industrials Real Estate Technology Utilities

Showing 1–50 of 231 positions by value · page 1 of 5

Ticker	Company	Type	Shares	Δ Shares	Value (USD)	% Δ Value	Held (qtrs)	Est. cost/share	% of Portfolio
BRK-A	Berkshire Hathaway Inc Financial Services	Held	555	0	$415,611,750	+4.3%	6	$729,330.80	40.20%
LRCX	Lam Research Corp Technology	Reduced	85,114	-3,480	$36,882,449	+94.8%	26+	before history	3.57%
AAPL	Apple Inc. Technology	Added	99,797	+29,226	$28,877,259	+61.2%	26+	before history	2.79%
AVGO	Broadcom Inc. Technology	Added	75,155	+3,794	$28,389,801	+28.5%	21	$70.46	2.75%
NVDA	Nvidia Corp Technology	Added	134,950	+20,673	$27,002,145	+35.5%	26+	before history	2.61%
JPM	Jpmorgan Chase & Co Financial Services	Added	61,191	+13,017	$20,029,650	+41.3%	26+	before history	1.94%
MSFT	Microsoft Corp Technology	Added	44,413	+11,439	$16,566,937	+35.7%	26+	before history	1.60%
GOOGL	Alphabet Inc. Communication Services	Added	45,918	+12,464	$16,409,715	+70.6%	26+	before history	1.59%
LLY	ELI LILLY & Co Healthcare	Added	12,959	+2,019	$15,543,414	+54.5%	24	$471.02	1.50%
COST	Costco Wholesale Corp Consumer Defensive	Added	14,865	+3,284	$13,905,761	+20.5%	26+	before history	1.35%
RTX	RTX Corp Industrials	Added	62,019	+17,490	$11,766,864	+37.0%	25	unpriced	1.14%
AMZN	Amazon Com Inc Consumer Cyclical	Added	46,834	+4,918	$11,162,415	+27.9%	26+	before history	1.08%
BRK-B	Berkshire Hathaway Inc Financial Services	Added	19,793	+365	$9,904,219	+6.4%	15	$326.21	0.96%
PANW	Palo Alto Networks Inc Technology	Added	28,553	+1,970	$9,737,144	+128.5%	14	unpriced	0.94%
XOM	ExxonMobil Holdings Corp Energy	Added	67,677	+12,458	$9,252,799	−1.2%	26+	before history	0.90%
CAT	Caterpillar Inc Industrials	Added	8,327	+287	$8,867,422	+55.7%	26+	before history	0.86%
VRTX	Vertex Pharmaceuticals Inc Healthcare	Added	16,870	+1,208	$8,379,835	+19.8%	22	$332.27	0.81%
V	Visa Inc. Financial Services	Added	23,968	+2,596	$8,223,181	+27.3%	26+	before history	0.80%
VRT	Vertiv Holdings Co Industrials	Reduced	23,823	-269	$7,976,416	+32.1%	10	$93.95	0.77%
ABBV	AbbVie Inc. Healthcare	Added	31,297	+2,848	$7,875,577	+27.3%	26+	before history	0.76%
TSM	Taiwan Semiconductor Manufacturing Co Ltd Technology	Reduced	16,395	-277	$7,829,760	+39.0%	26+	before history	0.76%
ETN	Eaton Corp plc Industrials	Added	17,394	+4,444	$7,411,931	+60.0%	21	$258.48	0.72%
GS	Goldman Sachs Group Inc Financial Services	Added	7,008	+752	$7,087,680	+33.9%	26+	before history	0.69%
EPD	Enterprise Products Partners L.P. Energy	Reduced	191,338	-500	$7,033,584	−3.1%	26+	before history	0.68%
JNJ	Johnson & Johnson Healthcare	Added	27,516	+9,863	$6,988,238	+61.9%	26+	before history	0.68%
BLK	BlackRock, Inc. Financial Services	Added	6,867	+2,250	$6,603,032	+48.7%	8	$923.84	0.64%
LIN	Linde PLC Basic Materials	Added	12,444	+1,202	$6,457,689	+15.9%	14	$358.63	0.62%
VOO	VANGUARD 500 INDEX FUND	Added	9,257	+80	$6,357,800	+15.9%	7	unpriced	0.62%
DELL	Dell Technologies Inc. Technology	Added	13,240	+813	$5,712,530	+180.1%	10	$140.24	0.55%
NEE	Nextera Energy Inc Utilities	Added	62,458	+24,850	$5,481,938	+56.9%	26+	before history	0.53%
ROK	Rockwell Automation, Inc Industrials	Added	10,843	+466	$5,368,152	+44.1%	23	$287.97	0.52%
ISRG	Intuitive Surgical Inc Healthcare	Added	12,766	+1,941	$5,076,782	+1.7%	18	$329.26	0.49%
TMO	Thermo Fisher Scientific Inc. Healthcare	Added	9,982	+1,880	$5,004,575	+25.7%	26+	before history	0.48%
GOOG	Alphabet Inc. Communication Services	Reduced	14,041	-910	$4,961,106	+15.7%	26+	before history	0.48%
TJX	Tjx Companies Inc Consumer Cyclical	Added	31,845	+13,574	$4,824,517	+65.3%	21	$116.72	0.47%
BKR	Baker Hughes Co Energy	Added	86,680	+14,618	$4,810,740	+9.4%	17	$42.91	0.47%
SPGI	S&P Global Inc. Financial Services	Added	11,421	+284	$4,651,316	−1.8%	22	unpriced	0.45%
MA	Mastercard Inc Financial Services	Added	8,901	+4,663	$4,571,553	+115.9%	26+	before history	0.44%
HD	Home Depot, Inc. Consumer Cyclical	Added	12,291	+663	$4,334,789	+13.3%	26+	before history	0.42%
COF	Capital One Financial Corp Financial Services	Added	20,953	+5,071	$4,203,590	+45.1%	26+	before history	0.41%
MS	Morgan Stanley Financial Services	Added	20,065	+564	$4,194,387	+30.7%	24	$67.28	0.41%
LOW	Lowes Companies Inc Consumer Cyclical	Added	17,240	+7,008	$3,801,247	+57.2%	26+	before history	0.37%
VTI	VANGUARD TOTAL STOCK MARKET INDEX FUND	Added	9,962	+1,482	$3,686,338	+35.5%	14	unpriced	0.36%
DRI	Darden Restaurants Inc Consumer Cyclical	Added	16,895	+4,924	$3,480,538	+48.3%	16	$167.34	0.34%
UNP	Union Pacific Corp Industrials	Reduced	12,763	-15	$3,471,536	+12.0%	26+	before history	0.34%
ABT	Abbott Laboratories Healthcare	Reduced	37,845	-1,974	$3,434,055	−16.0%	26+	before history	0.33%
SO	Southern Co Utilities	Added	33,202	+14,965	$3,177,763	+80.5%	21	$84.21	0.31%
CRWD	CrowdStrike Holdings, Inc. Technology	Added	4,143	+3,098	$3,161,689	+675.0%	8	$508.62	0.31%
WM	Waste Management Inc Industrials	Added	13,806	+3,060	$3,077,081	+24.6%	24	$141.41	0.30%
ULTA	Ulta Beauty, Inc. Consumer Cyclical	Added	6,690	+3,301	$3,017,056	+70.3%	26+	before history	0.29%

Showing the top 50 of 231 positions. Create a free account to see every position, past quarters, search, filters and CSV export.

Covers the securities this platform tracks: U.S.-listed common stock and the put/call positions reported on it. A 13F can also report security types outside that coverage — preferred shares, bonds, warrants, untracked share classes — so the filing's own declared total can exceed the figures above. The source filing is linked at the top of this table.