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Baldwin Investment Management, LLC

Q3 2025 · 13F-HR

Baldwin Investment Management, LLCholdings as filed

Filed 2025-11-10 · accession 0001346378-25-000009

$873.4M
Reported value
207
Positions
2025-09-30
Period end
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The Brief · Baldwin Investment Management, LLC · Q3 2025

AI · grounded in 13F

Baldwin Investment Management, LLC established a new position in Berkshire Hathaway Inc A BRK/A valued at $419.3M. The fund also initiated new stakes in Broadcom Limited AVGO for $23.8M and Nvidia Corp NVDA for $22.1M. Additional new positions include Apple Inc AAPL, Microsoft Corp MSFT, and J.P. Morgan Chase & Co JPM.

Holdings as filed

CUSIPTickerIssuerValue% port.SharesClassVoting
084670108BRK/ABerkshire Hathaway Inc A$419.3M48.0%556CommonSOLE
11135F101AVGOBroadcom Limited$23.8M2.73%72,212CommonSOLE
67066G104NVDANvidia Corp$22.1M2.52%118,189CommonSOLE
037833100AAPLApple Inc$18.5M2.11%72,486CommonSOLE
594918104MSFTMicrosoft Corp$16.9M1.94%32,688CommonSOLE
46625H100JPMJ.P. Morgan Chase & Co$15.4M1.76%48,789CommonSOLE
512807306LRCXLam Research Corp$13.4M1.53%100,028CommonSOLE
22160K105COSTCostco Wholesale Corporation$10.2M1.17%11,048CommonSOLE
084670702BRK/BBerkshire Hathaway Inc B$9.5M1.09%18,978CommonSOLE
023135106AMZNAmazon.com Inc$9.1M1.04%41,364CommonSOLE
532457108LLYEli Lilly & Company$8.5M0.97%11,079CommonSOLE
02079K305GOOGLAlphabet Inc Class A$8.2M0.94%33,819CommonSOLE
92826C839VVisa Inc.$7.4M0.84%21,536CommonSOLE
75513E101RTXRTX Corp$7.2M0.83%43,252CommonSOLE
00287Y109ABBVAbbvie Inc$6.7M0.77%28,980CommonSOLE
30231G102XOMExxon Mobil Corporation$6.4M0.73%56,873CommonSOLE
92532F100VRTXVertex Pharmaceuticals$6.2M0.71%15,748CommonSOLE
293792107EPDEnterprise Products Partners$6.0M0.69%192,440CommonNONE
G54950103LINLinde PLC$5.7M0.65%12,012CommonSOLE
09290D101BLKBlackrock Inc$5.4M0.62%4,651CommonSOLE
922908363VOOVanguard S&P 500 Etf$5.4M0.62%8,811CommonSOLE
002824100ABTAbbott Laboratories$5.3M0.61%39,465CommonSOLE
38141G104GSGoldman Sachs Group Inc$5.1M0.59%6,417CommonSOLE
78409V104SPGIS&P Global Inc$5.0M0.57%10,242CommonSOLE
697435105PANWPalo Alto Networks$4.9M0.57%24,255CommonSOLE
G29183103ETNEaton Corp$4.8M0.54%12,710CommonSOLE
46120E602ISRGIntuitive Surgical$4.7M0.54%10,562CommonSOLE
437076102HDHome Depot Inc$4.7M0.54%11,614CommonSOLE
874039100TSMTaiwan Semiconductor Manufacturing ADR$4.6M0.53%16,592CommonSOLE
149123101CATCaterpillar Inc$4.1M0.47%8,582CommonSOLE
883556102TMOThermo Fisher Scientific$4.0M0.46%8,250CommonSOLE
02079K107GOOGAlphabet Inc Class C$3.8M0.44%15,772CommonSOLE
773903109ROKRockwell Automation$3.7M0.42%10,540CommonSOLE
92537N108VRTVertiv Holdings Co$3.7M0.42%24,301CommonSOLE
05722G100BKRBaker Hughes Co$3.6M0.41%73,452CommonSOLE
98978V103ZTSZoetis Inc$3.4M0.38%22,966CommonSOLE
478160104JNJJohnson & Johnson$3.3M0.38%17,940CommonSOLE
617446448MSMorgan Stanley & Co$3.1M0.36%19,672CommonSOLE
907818108UNPUnion Pacific Corp$3.1M0.35%13,082CommonSOLE
14040H105COFCapital One Financial$3.0M0.34%13,925CommonSOLE
65339F101NEENextera Energy$2.9M0.33%38,166CommonSOLE
78462F103SPYS&P DEP Receipts$2.7M0.31%4,122CommonNONE
548661107LOWLowes Companies Inc$2.7M0.31%10,822CommonSOLE
872540109TJXTJX Inc$2.7M0.30%18,396CommonSOLE
G1151C101ACNAccenture Plc$2.6M0.30%10,629CommonSOLE
892356106TSCOTractor Supply Company$2.6M0.29%45,280CommonSOLE
03027X100AMTAmerican Tower REIT$2.6M0.29%13,315CommonSOLE
235851102DHRDanaher Corp$2.5M0.28%12,438CommonSOLE
922908769VTIVanguard Total Stock Market ETF$2.5M0.28%7,473CommonSOLE
57636Q104MAMastercard Inc$2.4M0.28%4,238CommonSOLE
94106L109WMWaste Management Inc$2.4M0.27%10,786CommonSOLE
872590104TMUST-Mobile US$2.3M0.27%9,777CommonSOLE
025816109AXPAmerican Express Co$2.3M0.26%6,937CommonSOLE
580135101MCDMcDonald's Corp$2.3M0.26%7,568CommonNONE
68389X105ORCLOracle Corp$2.3M0.26%8,030CommonSOLE
09260D107BXBlackstone Inc$2.1M0.24%12,511CommonSOLE
237194105DRIDarden Restaurants Inc$2.0M0.23%10,723CommonSOLE
45104G104IBNIcici Bank Ltd Adr$2.0M0.23%67,438CommonSOLE
00724F101ADBEAdobe Inc$2.0M0.23%5,723CommonSOLE
G0750C108AXTAAxalta Coating Systems$1.9M0.22%65,676CommonSOLE
921909768VXUSVanguard Total Interntl Stk$1.9M0.21%25,264CommonSOLE
244199105DEDeere & Co$1.8M0.21%3,999CommonSOLE
90384S303ULTAUlta Beauty Inc.$1.8M0.21%3,293CommonSOLE
459200101IBMInternational Business Machines Corp$1.8M0.20%6,304CommonNONE
464287804IJRiShares S&P Smallcap 600$1.8M0.20%14,928CommonSOLE
H1467J104CBChubb Corp.$1.8M0.20%6,237CommonSOLE
871607107SNPSSynopsys Inc$1.8M0.20%3,556CommonSOLE
90353T100UBERUber Technologies Inc$1.7M0.20%17,637CommonSOLE
98980G102ZSZscaler Inc$1.7M0.19%5,608CommonSOLE
45866F104ICEIntercontinental Exchange$1.6M0.18%9,559CommonSOLE
337738108FISVFiserv Inc$1.6M0.18%12,325CommonNONE
713448108PEPPepsico Inc.$1.5M0.18%11,024CommonSOLE
922908538VOTVanguard Mid Cap Growth$1.5M0.17%5,150CommonNONE
35671D857FCXFreeport McMoRan$1.5M0.17%37,934CommonNONE
G93A5A101VIKViking Holdings$1.5M0.17%23,785CommonSOLE
654106103NKENike Inc$1.5M0.17%21,098CommonSOLE
30303M102METAMeta Platforms Inc$1.4M0.16%1,962CommonSOLE
494368103KMBKimberly Clark Corp$1.4M0.16%11,482CommonSOLE
717081103PFEPfizer Inc.$1.4M0.16%53,638CommonSOLE
336433107FSLRFirst Solar Inc$1.4M0.15%6,127CommonSOLE
82509L107SHOPShopify Inc$1.3M0.15%8,978CommonSOLE
166764100CVXChevron Corp.$1.3M0.15%8,550CommonSOLE
842587107SOSouthern Company$1.3M0.15%13,878CommonSOLE
592688105MTDMettler Toledo Intl Inc$1.3M0.15%1,061CommonSOLE
438516106HONHoneywell International$1.3M0.15%6,163CommonSOLE
N07059210ASMLASML Holdings NV$1.3M0.15%1,334CommonNONE
101137107BSXBoston Scientific Corp$1.3M0.15%13,145CommonSOLE
855244109SBUXStarbucks Corp$1.3M0.14%14,892CommonSOLE
609207105MDLZMondelez International$1.3M0.14%20,158CommonSOLE
783513203RYAAYRyanAir Holdings PLC$1.2M0.14%20,689CommonSOLE
04010L103ARCCAres Capital Corp$1.2M0.14%60,770CommonSOLE
12572Q105CMECME Group Inc$1.2M0.14%4,571CommonSOLE
456788108INFYInfosys Technologies Ltd$1.2M0.14%74,840CommonNONE
670100205NVONovo Nordisk$1.2M0.14%21,874CommonNONE
25278X109FANGDiamondback Energy$1.2M0.14%8,479CommonSOLE
502431109LHXL3Harris Technologies$1.2M0.14%3,892CommonSOLE
23804L103DDOGDatadog Inc$1.2M0.14%8,310CommonSOLE
28176E108EWEdwards Lifesciences Corp$1.2M0.13%15,085CommonSOLE
N6596X109NXPINXP Semiconductors N.V.$1.1M0.13%5,047CommonSOLE
G8994E103TTTrane Technologies Plc$1.1M0.13%2,716CommonSOLE
91324P102UNHUnitedHealth Group$1.1M0.13%3,249CommonSOLE
22052L104CTVACorteva Agriscience Inc$1.1M0.12%16,129CommonNONE
742718109PGProcter & Gamble Co.$1.1M0.12%7,040CommonNONE
929160109VMCVulcan Materials Company$1.1M0.12%3,513CommonNONE
099724106BWABorg Warner Inc$1.1M0.12%24,535CommonSOLE
46137V357RSPRydex S&P Equal Weight ETF$1.1M0.12%5,622CommonSOLE
03073E105CORCencora Inc$1.1M0.12%3,408CommonSOLE
988498101YUMYum! Brands Inc$1.0M0.12%6,899CommonSOLE
254687106DISWalt Disney Co$1.0M0.12%8,902CommonSOLE
931142103WMTWal-Mart Stores Inc.$1.0M0.12%9,887CommonSOLE
060505104BACBank of America Corp$1.0M0.12%19,495CommonNONE
922908611VBRVanguard Small Cap Value$989,4120.11%4,741CommonSOLE
74340W103PLDPrologis Inc$989,2240.11%8,638CommonSOLE
26441C204DUKDuke Energy Corp.$983,0090.11%7,944CommonSOLE
46429B598INDAIshares MSCI India Index$975,9170.11%18,746CommonSOLE
052769106ADSKAutodesk Inc$929,8200.11%2,927CommonSOLE
58155Q103MCKMcKesson Corp$919,3230.11%1,190CommonSOLE
17275R102CSCOCisco Systems Inc$908,0840.10%13,272CommonSOLE
H8088L103SRADSportradar Group$877,6660.10%32,627CommonNONE
053015103ADPAutomatic Data Processing Inc$868,4670.10%2,959CommonNONE
032654105ADIAnalog Devices Inc$863,6360.10%3,515CommonSOLE
191216100KOCoca Cola Co.$846,9060.10%12,770CommonSOLE
009158106APDAir Products and Chemicals Inc$846,2500.10%3,103CommonNONE
172908105CTASCintas Corp$821,0400.09%4,000CommonSOLE
464287499IWRiShares Russell Midcap Index Fd$807,4480.09%8,363CommonSOLE
573874104MRVLMarvell Technology Group$807,0720.09%9,600CommonNONE
36262G101GXOGXO Logistics Inc$803,3460.09%15,189CommonSOLE
81369Y803XLKTechnology Select Sector SPDR Fund$803,3010.09%2,850CommonSOLE
165167735EXEExpand Energy Corp$756,2160.09%7,118CommonSOLE
95040Q104WELLWelltower Inc$726,0990.08%4,076CommonSOLE
125523100CICigna Corporation$721,7780.08%2,504CommonSOLE
89677Q107TCOMTrip.com Group Ltd$710,0380.08%9,442CommonSOLE
808524805SCHFSchwab International Equity Fund$701,9570.08%30,153CommonSOLE
G16258108BEPBrookfield Renewable Partners LP$687,4840.08%26,657CommonSOLE
539830109LMTLockheed Martin Corp$673,9340.08%1,350CommonNONE
14448C104CARRCarrier Global Corp$671,0280.08%11,240CommonNONE
34959J108FTVFortive Corp$668,9090.08%13,654CommonSOLE
46434G822EWJiShares MSCI Japan Index Fund$635,3430.07%7,921CommonSOLE
219350105GLWCorning Inc$629,5800.07%7,675CommonSOLE
921908844VIGVanguard Dividend Appreciation ETF$622,8070.07%2,886CommonSOLE
808524797SCHDSchwab US Dividend Equity ETF$618,0890.07%22,641CommonSOLE
143658300CCL1EURCarnival Corp$610,8390.07%21,129CommonNONE
464287176TIPiShares TIPS Bond Fund$578,3440.07%5,200CommonSOLE
693475105PNCPNC Financial Services Group Inc$569,2350.07%2,833CommonSOLE
464287655IWMIshares Tr Russell 2000 Index Fd$559,4120.06%2,312CommonSOLE
21036P108STZConstellation Brands Inc$552,4160.06%4,102CommonNONE
465562106ITUBItau UniBanco Multiplo ADR$530,5940.06%72,288CommonSOLE
46266C105IQVIqvia Hldgs Inc$523,8550.06%2,758CommonSOLE
231021106CMICummins Inc$523,7390.06%1,240CommonSOLE
525327102LDOSLeidos Holdings Inc$519,6400.06%2,750CommonSOLE
824348106SHWSherwin Williams Co$507,9630.06%1,467CommonSOLE
M22465104CHKPCheck Point Software Technologies$507,1360.06%2,451CommonSOLE
808524102SCHBSchwab US Broad Market ETF$493,5080.06%19,195CommonSOLE
922908512VOEVanguard Mid Cap Value$490,1340.06%2,808CommonSOLE
780259305SHELSHELL ADR EACH REP 2 ORD WI$477,2480.05%6,672CommonSOLE
922042858VWOVanguard FTSE Emerging Mkt ETF$469,8490.05%8,672CommonSOLE
749685103RPMRPM International Inc$468,5730.05%3,975CommonSOLE
58933Y105MRKMerck & Co Inc$467,4900.05%5,570CommonSOLE
194162103CLColgate Palmolive Co$461,4140.05%5,772CommonNONE
701094104PHParker Hannifin Corp$457,1640.05%603CommonSOLE
20030N101CMCSAComcast Corp$437,3040.05%13,918CommonSOLE
127055101CBTCabot Corporation$435,7670.05%5,730CommonNONE
020002101ALLAllstate Corp$427,5830.05%1,992CommonSOLE
26969P108EXPEagle Materials Inc$419,4720.05%1,800CommonNONE
H2927K103AMRZAmrize AG$417,6010.05%8,605CommonSOLE
056752108BIDUBaidu Inc ADR$408,7510.05%3,102CommonSOLE
404280406HSBCHSBC PLC Spon ADR$405,0830.05%5,707CommonSOLE
G51502105JCIJohnson Controls Inc$380,8670.04%3,464CommonSOLE
464287721IYWiShares Trust Dow Jones US Tech Fund$378,0100.04%1,930CommonSOLE
110122108BMYBristol-Myers Squibb$377,4340.04%8,369CommonNONE
22788C105CRWDCrowdstrike Hldgs Inc$375,1410.04%765CommonSOLE
464287465EFAiShares MSCI EAFE Index Fund$357,1400.04%3,825CommonSOLE
26701L100BROSDutch Bros Inc$356,9590.04%6,820CommonSOLE
718546104PSXPhillips 66$353,6520.04%2,600CommonSOLE
882508104TXNTexas Instruments, Inc.$326,4880.04%1,777CommonSOLE
88160R101TSLATesla Inc$326,4240.04%734CommonSOLE
G0403H108AONAon PLC$320,9220.04%900CommonSOLE
92338C103VLTOVERALTO ORD WI$315,6760.04%2,961CommonSOLE
13646K108CPCanadian Pacific Kansas City Ltd$311,7410.04%4,185CommonSOLE
24703L202DELLDell Inc$308,7750.04%2,178CommonSOLE
81369Y704XLIIndustrial Select Sector SPDR Fund$303,8330.03%1,970CommonSOLE
45257U108IMNMImmunome, Inc.$297,3640.03%25,394CommonSOLE
30161N101EXCExelon Corporation$290,3150.03%6,450CommonSOLE
443573100HUBSHubSpot Inc$288,6330.03%617CommonSOLE
132061201SYLDCambria Shareholder Yield ETF$286,9440.03%4,179CommonSOLE
871829107SYYSysco Corp$286,1320.03%3,475CommonSOLE
98419M100XYLXylem Inc$281,2830.03%1,907CommonNONE
126408103CSXC S X Corp$279,9250.03%7,883CommonSOLE
36828A101GEVGE Vernova Inc.$268,7110.03%437CommonSOLE
025072877AVUVAvantis US Small Cap Value ETF$261,2900.03%2,625CommonSOLE
50155Q100KDKyndryl Holdings$251,6510.03%8,380CommonSOLE
747525103QCOMQualcomm Inc$243,2180.03%1,462CommonSOLE
744573106PEGPublic Service Enterprise Group$242,0340.03%2,900CommonSOLE
260003108DOVDover Corp$241,9040.03%1,450CommonSOLE
464287507IJHIshares Tr S&P Midcap$236,2410.03%3,620CommonSOLE
31428X106FDXFedEx Corp$230,3860.03%977CommonSOLE
46090E103QQQPowershares QQQ Trust$230,1080.03%383CommonSOLE
670346105NUENucor Corp$227,5220.03%1,680CommonSOLE
808524607SCHASchwab US Small Cap ETF$227,2920.03%8,147CommonSOLE
922908629VOVanguard Mid-Cap ETF$226,3700.03%771CommonSOLE
78463V107GLDSPDR Gold Trust$222,1690.03%625CommonSOLE
921943858VEAVanguard FTSE Developed Markets ETF$220,6540.03%3,682CommonSOLE
743315103PGRProgressive Corp$219,0450.03%887CommonSOLE
595112103MUMicron Technology Inc$217,5160.02%1,300CommonSOLE
291011104EMREmerson Electric Co$208,1830.02%1,587CommonSOLE
60687Y109MFGMizuho Financial Group Inc$192,9600.02%28,800CommonSOLE
67577C105OCGNOcugen Inc$40,7500.00%25,000CommonSOLE

Source: SEC EDGAR · raw 13F holdings as filed. The Class column shows the option type when reported (Put/Call) or Common when the issuer's equity is held directly. 13F discloses long positions only.