MondegarAI
Baldwin Investment Management, LLC

Q4 2025 · 13F-HR

Baldwin Investment Management, LLCholdings as filed

Filed 2026-02-13 · accession 0001346378-26-000001

$885.8M
Reported value
207
Positions
2025-12-31
Period end
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The Brief · Baldwin Investment Management, LLC · Q4 2025

AI · grounded in 13F

Baldwin Investment Management, LLC closed its position in Fiserv Inc FISV, reducing its holdings by $1.59M. The fund trimmed several other positions, including American Tower REIT AMT by 22.64% and Oracle Corp ORCL by 8.84%. Offsetting these sales, the fund accumulated shares of Broadcom Limited AVGO by 1.67% and Intuitive Surgical ISRG by 0.04%.

Holdings as filed

CUSIPTickerIssuerValue% port.SharesClassVoting
084670108BRK/ABerkshire Hathaway Inc A$419.7M47.4%556CommonSOLE
11135F101AVGOBroadcom Limited$25.4M2.87%73,420CommonSOLE
67066G104NVDANvidia Corp$21.6M2.43%115,629CommonSOLE
037833100AAPLApple Inc$19.0M2.15%69,950CommonSOLE
512807306LRCXLam Research Corp$16.8M1.90%98,134CommonSOLE
594918104MSFTMicrosoft Corp$15.7M1.77%32,411CommonSOLE
46625H100JPMJ.P. Morgan Chase & Co$15.5M1.75%48,114CommonSOLE
532457108LLYEli Lilly & Company$11.8M1.33%10,976CommonSOLE
02079K305GOOGLAlphabet Inc Class A$10.5M1.19%33,629CommonSOLE
22160K105COSTCostco Wholesale Corp$9.8M1.11%11,356CommonSOLE
023135106AMZNAmazon.com Inc$9.5M1.07%41,192CommonSOLE
084670702BRK/BBerkshire Hathaway Inc B$9.1M1.03%18,174CommonSOLE
75513E101RTXRTX Corp$8.2M0.93%44,853CommonSOLE
92826C839VVisa Inc.$7.5M0.84%21,322CommonSOLE
92532F100VRTXVertex Pharmaceuticals$7.1M0.80%15,554CommonSOLE
30231G102XOMExxon Mobil Corporation$6.8M0.77%56,311CommonSOLE
00287Y109ABBVAbbvie Inc$6.5M0.74%28,549CommonSOLE
293792107EPDEnterprise Products Partners$6.2M0.69%191,988CommonNONE
46120E602ISRGIntuitive Surgical$6.0M0.68%10,566CommonSOLE
922908363VOOVanguard S&P 500 Etf$5.6M0.63%8,884CommonNONE
38141G104GSGoldman Sachs Group Inc$5.5M0.63%6,308CommonSOLE
78409V104SPGIS&P Global Inc$5.5M0.62%10,471CommonSOLE
874039100TSMTaiwan Semiconductor Manufacturing ADR$5.0M0.57%16,507CommonSOLE
002824100ABTAbbott Laboratories$5.0M0.56%39,556CommonSOLE
09290D101BLKBlackrock Inc$4.9M0.56%4,617CommonSOLE
02079K107GOOGAlphabet Inc Class C$4.8M0.55%15,441CommonSOLE
G54950103LINLinde PLC$4.8M0.54%11,292CommonSOLE
883556102TMOThermo Fisher Scientific$4.7M0.53%8,112CommonSOLE
149123101CATCaterpillar Inc$4.7M0.53%8,199CommonSOLE
697435105PANWPalo Alto Networks$4.5M0.51%24,648CommonSOLE
G29183103ETNEaton Corp$4.1M0.47%12,935CommonSOLE
773903109ROKRockwell Automation$4.0M0.46%10,382CommonSOLE
92537N108VRTVertiv Holdings Co$3.9M0.44%24,032CommonSOLE
437076102HDHome Depot Inc$3.8M0.43%11,043CommonSOLE
478160104JNJJohnson & Johnson$3.7M0.41%17,710CommonSOLE
14040H105COFCapital One Financial$3.6M0.40%14,790CommonSOLE
617446448MSMorgan Stanley & Co$3.5M0.39%19,673CommonSOLE
05722G100BKRBaker Hughes Co$3.4M0.38%74,146CommonSOLE
65339F101NEENextera Energy$3.0M0.34%37,707CommonSOLE
907818108UNPUnion Pacific Corp$3.0M0.33%12,793CommonSOLE
872540109TJXTJX Inc$2.8M0.32%18,196CommonNONE
78462F103SPYS&P DEP Receipts$2.8M0.32%4,097CommonSOLE
235851102DHRDanaher Corp$2.8M0.31%12,100CommonSOLE
98978V103ZTSZoetis Inc$2.7M0.31%21,817CommonSOLE
G1151C101ACNAccenture Plc$2.7M0.30%9,899CommonSOLE
922908769VTIVanguard Total Stock Market ETF$2.6M0.29%7,637CommonSOLE
025816109AXPAmerican Express Co$2.5M0.29%6,860CommonSOLE
548661107LOWLowes Companies Inc$2.5M0.28%10,232CommonSOLE
57636Q104MAMastercard Inc$2.4M0.27%4,238CommonNONE
94106L109WMWaste Management Inc$2.4M0.27%10,786CommonSOLE
580135101MCDMcDonald's Corp$2.3M0.26%7,563CommonNONE
237194105DRIDarden Restaurants Inc$2.2M0.25%12,046CommonSOLE
892356106TSCOTractor Supply Company$2.2M0.25%44,200CommonSOLE
90384S303ULTAUlta Beauty Inc.$2.1M0.23%3,389CommonSOLE
45104G104IBNIcici Bank Ltd Adr$2.0M0.23%67,438CommonSOLE
459200101IBMInternational Business Machines Corp$2.0M0.22%6,709CommonSOLE
H1467J104CBChubb Corp.$2.0M0.22%6,293CommonSOLE
872590104TMUST-Mobile US$2.0M0.22%9,605CommonSOLE
921909768VXUSVanguard Total Interntl Stk$1.9M0.22%25,743CommonSOLE
35671D857FCXFreeport McMoRan$1.9M0.21%37,312CommonSOLE
G0750C108AXTAAxalta Coating Systems$1.9M0.21%58,304CommonSOLE
00724F101ADBEAdobe Inc$1.9M0.21%5,366CommonSOLE
09260D107BXBlackstone Inc$1.9M0.21%12,009CommonSOLE
03027X100AMTAmerican Tower REIT$1.8M0.20%10,301CommonSOLE
464287804IJRiShares S&P Smallcap 600$1.8M0.20%14,778CommonSOLE
713448108PEPPepsico Inc.$1.7M0.19%11,669CommonSOLE
G93A5A101VIKViking Holdings$1.6M0.19%23,005CommonSOLE
336433107FSLRFirst Solar Inc$1.6M0.18%6,013CommonSOLE
98980G102ZSZscaler Inc$1.5M0.17%6,887CommonSOLE
244199105DEDeere & Co$1.5M0.17%3,295CommonSOLE
30303M102METAMeta Platforms Inc$1.5M0.17%2,322CommonSOLE
783513203RYAAYRyanAir Holdings PLC$1.5M0.17%20,689CommonSOLE
842587107SOSouthern Company$1.5M0.17%17,037CommonSOLE
592688105MTDMettler Toledo Intl Inc$1.5M0.17%1,061CommonSOLE
871607107SNPSSynopsys Inc$1.5M0.16%3,099CommonSOLE
45866F104ICEIntercontinental Exchange$1.5M0.16%8,964CommonSOLE
052769106ADSKAutodesk Inc$1.4M0.16%4,832CommonSOLE
N07059210ASMLASML Holdings NV$1.4M0.16%1,334CommonSOLE
68389X105ORCLOracle Corp$1.4M0.16%7,320CommonSOLE
922908538VOTVanguard Mid Cap Growth$1.4M0.16%5,000CommonSOLE
654106103NKENike Inc$1.4M0.16%21,601CommonSOLE
82509L107SHOPShopify Inc$1.4M0.15%8,423CommonSOLE
456788108INFYInfosys Technologies Ltd$1.3M0.15%74,840CommonSOLE
166764100CVXChevron Corp.$1.3M0.15%8,550CommonSOLE
90353T100UBERUber Technologies Inc$1.3M0.15%15,775CommonSOLE
28176E108EWEdwards Lifesciences Corp$1.3M0.15%15,095CommonSOLE
25278X109FANGDiamondback Energy$1.3M0.14%8,363CommonSOLE
04010L103ARCCAres Capital Corp$1.2M0.14%61,575CommonSOLE
855244109SBUXStarbucks Corp$1.2M0.14%14,700CommonSOLE
12572Q105CMECME Group Inc$1.2M0.14%4,469CommonSOLE
101137107BSXBoston Scientific Corp$1.2M0.14%12,785CommonSOLE
438516106HONHoneywell International$1.2M0.13%5,975CommonSOLE
23804L103DDOGDatadog Inc$1.2M0.13%8,530CommonSOLE
03073E105CORCencora Inc$1.2M0.13%3,408CommonNONE
494368103KMBKimberly Clark Corp$1.1M0.13%11,332CommonSOLE
502431109LHXL3Harris Technologies$1.1M0.13%3,892CommonSOLE
254687106DISWalt Disney Co$1.1M0.13%10,042CommonSOLE
670100205NVONovo Nordisk$1.1M0.12%21,549CommonSOLE
931142103WMTWal-Mart Stores Inc.$1.1M0.12%9,787CommonSOLE
099724106BWABorg Warner Inc$1.1M0.12%24,007CommonSOLE
26701L100BROSDutch Bros Inc$1.1M0.12%17,535CommonSOLE
22052L104CTVACorteva Agriscience Inc$1.1M0.12%15,929CommonSOLE
46137V357RSPRydex S&P Equal Weight ETF$1.1M0.12%5,536CommonSOLE
609207105MDLZMondelez International$1.1M0.12%19,682CommonSOLE
G8994E103TTTrane Technologies Plc$1.0M0.12%2,670CommonSOLE
74340W103PLDPrologis Inc$1.0M0.12%8,133CommonSOLE
060505104BACBank of America Corp$1.0M0.11%18,475CommonSOLE
17275R102CSCOCisco Systems Inc$1.0M0.11%13,172CommonSOLE
46429B598INDAIshares MSCI India Index$1.0M0.11%18,746CommonSOLE
45257U108IMNMImmunome, Inc.$1.0M0.11%47,167CommonNONE
988498101YUMYum! Brands Inc$1.0M0.11%6,672CommonSOLE
922908611VBRVanguard Small Cap Value$985,7660.11%4,654CommonSOLE
58155Q103MCKMcKesson Corp$972,0440.11%1,185CommonSOLE
717081103PFEPfizer Inc.$957,3550.11%38,448CommonSOLE
91324P102UNHUnitedHealth Group$948,7360.11%2,874CommonSOLE
929160109VMCVulcan Materials Company$923,5420.10%3,238CommonSOLE
N6596X109NXPINXP Semiconductors N.V.$919,2490.10%4,235CommonSOLE
26441C204DUKDuke Energy Corp.$917,3410.10%7,826CommonSOLE
191216100KOCoca Cola Co.$889,2550.10%12,720CommonSOLE
573874104MRVLMarvell Technology Group$867,2210.10%10,205CommonNONE
742718109PGProcter & Gamble Co.$847,3230.10%5,913CommonNONE
165167735EXEExpand Energy Corp$836,8600.09%7,583CommonSOLE
81369Y803XLKTechnology Select Sector SPDR Fund$820,6290.09%5,700CommonSOLE
032654105ADIAnalog Devices Inc$816,3120.09%3,010CommonSOLE
464287499IWRiShares Russell Midcap Index Fd$805,1060.09%8,363CommonSOLE
053015103ADPAutomatic Data Processing Inc$798,4420.09%3,104CommonSOLE
24703L202DELLDell Inc$795,1840.09%6,317CommonSOLE
36262G101GXOGXO Logistics Inc$789,1790.09%14,992CommonSOLE
H8088L103SRADSportradar Group$775,5440.09%32,627CommonNONE
009158106APDAir Products and Chemicals Inc$766,5030.09%3,103CommonSOLE
95040Q104WELLWelltower Inc$756,5460.09%4,076CommonSOLE
172908105CTASCintas Corp$752,2800.08%4,000CommonSOLE
808524805SCHFSchwab International Equity Fund$724,8730.08%30,153CommonSOLE
125523100CICigna Corporation$688,0750.08%2,500CommonNONE
34959J108FTVFortive Corp$687,9720.08%12,461CommonSOLE
89677Q107TCOMTrip.com Group Ltd$678,9740.08%9,442CommonSOLE
143658300CCL1EURCarnival Corp$642,8360.07%21,049CommonSOLE
46434G822EWJiShares MSCI Japan Index Fund$639,5420.07%7,921CommonSOLE
921908844VIGVanguard Dividend Appreciation ETF$637,2370.07%2,899CommonSOLE
231021106CMICummins Inc$632,9580.07%1,240CommonSOLE
219350105GLWCorning Inc$630,4320.07%7,200CommonSOLE
539830109LMTLockheed Martin Corp$616,6790.07%1,275CommonSOLE
808524797SCHDSchwab US Dividend Equity ETF$585,1650.07%21,333CommonSOLE
14448C104CARRCarrier Global Corp$583,3540.07%11,040CommonSOLE
G16258108BEPBrookfield Renewable Partners LP$578,7490.07%21,459CommonSOLE
46266C105IQVIqvia Hldgs Inc$576,5990.07%2,558CommonSOLE
464287176TIPiShares TIPS Bond Fund$571,5320.06%5,200CommonSOLE
464287655IWMIshares Tr Russell 2000 Index Fd$569,1220.06%2,312CommonSOLE
58933Y105MRKMerck & Co Inc$565,2460.06%5,370CommonSOLE
693475105PNCPNC Financial Services Group Inc$565,2410.06%2,708CommonSOLE
465562106ITUBItau UniBanco Multiplo ADR$533,0580.06%74,449CommonSOLE
701094104PHParker Hannifin Corp$530,0130.06%603CommonSOLE
808524102SCHBSchwab US Broad Market ETF$503,7220.06%19,204CommonSOLE
922908512VOEVanguard Mid Cap Value$502,5380.06%2,833CommonSOLE
525327102LDOSLeidos Holdings Inc$496,1000.06%2,750CommonSOLE
097023105BABoeing Co$487,8690.06%2,247CommonSOLE
H2927K103AMRZAmrize AG$485,6380.05%8,980CommonSOLE
62944T105NVRNVR Inc$474,0300.05%65CommonSOLE
922042858VWOVanguard FTSE Emerging Mkt ETF$467,0620.05%8,688CommonSOLE
M22465104CHKPCheck Point Software Technologies$454,8080.05%2,451CommonSOLE
110122108BMYBristol-Myers Squibb$451,7410.05%8,375CommonNONE
404280406HSBCHSBC PLC Spon ADR$448,9700.05%5,707CommonSOLE
194162103CLColgate Palmolive Co$439,5880.05%5,563CommonNONE
G51502105JCIJohnson Controls Inc$414,8140.05%3,464CommonNONE
056752108BIDUBaidu Inc ADR$405,3070.05%3,102CommonSOLE
824348106SHWSherwin Williams Co$399,2050.05%1,232CommonSOLE
22788C105CRWDCrowdstrike Hldgs Inc$393,7580.04%840CommonSOLE
464287721IYWiShares Trust Dow Jones US Tech Fund$385,3820.04%1,930CommonSOLE
020002101ALLAllstate Corp$385,0780.04%1,850CommonSOLE
26969P108EXPEagle Materials Inc$372,0240.04%1,800CommonSOLE
595112103MUMicron Technology Inc$371,0330.04%1,300CommonSOLE
464287465EFAiShares MSCI EAFE Index Fund$367,3150.04%3,825CommonSOLE
127055101CBTCabot Corporation$366,5280.04%5,530CommonSOLE
20030N101CMCSAComcast Corp$366,2420.04%12,253CommonSOLE
718546104PSXPhillips 66$335,5040.04%2,600CommonSOLE
88160R101TSLATesla Inc$327,8460.04%729CommonSOLE
749685103RPMRPM International Inc$327,6000.04%3,150CommonSOLE
G0403H108AONAon PLC$317,5920.04%900CommonSOLE
64110L106NFLXNetflix Inc$313,1580.04%3,340CommonSOLE
13646K108CPCanadian Pacific Kansas City Ltd$308,1420.03%4,185CommonSOLE
132061201SYLDCambria Shareholder Yield ETF$291,2490.03%4,189CommonSOLE
81369Y704XLIIndustrial Select Sector SPDR Fund$290,0740.03%1,870CommonSOLE
126408103CSXC S X Corp$285,7590.03%7,883CommonSOLE
260003108DOVDover Corp$283,0980.03%1,450CommonSOLE
31428X106FDXFedEx Corp$282,2160.03%977CommonSOLE
30161N101EXCExelon Corporation$281,1560.03%6,450CommonSOLE
921943858VEAVanguard FTSE Developed Markets ETF$280,5680.03%4,491CommonSOLE
025072877AVUVAvantis US Small Cap Value ETF$280,4690.03%2,750CommonSOLE
670346105NUENucor Corp$273,6990.03%1,678CommonSOLE
780259305SHELSHELL ADR EACH REP 2 ORD WI$266,6590.03%3,629CommonSOLE
98419M100XYLXylem Inc$259,6950.03%1,907CommonNONE
871829107SYYSysco Corp$256,0730.03%3,475CommonSOLE
78463V107GLDSPDR Gold Trust$247,6940.03%625CommonSOLE
464287507IJHIshares Tr S&P Midcap$238,9200.03%3,620CommonSOLE
747525103QCOMQualcomm Inc$233,4830.03%1,365CommonNONE
36828A101GEVGE Vernova Inc.$233,3240.03%357CommonSOLE
744573106PEGPublic Service Enterprise Group$232,8700.03%2,900CommonSOLE
808524607SCHASchwab US Small Cap ETF$232,2130.03%8,154CommonSOLE
922908629VOVanguard Mid-Cap ETF$225,0730.03%776CommonSOLE
92338C103VLTOVERALTO ORD WI$222,5140.03%2,230CommonSOLE
949746101WMT2Wells Fargo & Co.$221,0300.02%2,372CommonSOLE
45337C102INCYIncyte Corporation$211,3680.02%2,140CommonSOLE
60687Y109MFGMizuho Financial Group Inc$210,8160.02%28,800CommonSOLE
291011104EMREmerson Electric Co$210,6270.02%1,587CommonSOLE
46090E103QQQPowershares QQQ Trust$205,9640.02%335CommonSOLE
743315103PGRProgressive Corp$200,6210.02%881CommonSOLE
67577C105OCGNOcugen Inc$33,7500.00%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.