Baldwin Investment Management, LLC
Long book
$855.7M
Q1 2026
Positions
210
Top-10 weight
63%
concentration
Last quarter
+10.6%
SPY +14.8%
Turnover
8%
of book per quarter
Strategy in plain words
auto-generated from filingsBaldwin Investment Management, LLC is an institutional manager, running a $855.7M US long book across 210 positions.
The portfolio is concentrated: the top 10 names carry 63% of the portfolio. The book barely moves quarter to quarter — a patient, low-turnover holder. Current anchor positions: BERKSHIRE HATHAWAY INC-CL A, BROADCOM INC, NVIDIA CORP, LAM RESEARCH CORP, APPLE INC.
Over the last 9 quarters its long book ran on average 2.2pp per quarter behind the S&P 500, beating the index in 3 of 9 quarters. Signal value of individual moves is limited — treat changes as weak evidence.
Implied long-book return vs S&P 500
methodology: positions priced quarterly, no shorts/options Fund long book S&P 500
Q1 2024
-0.1%
Q2 2024
+9.3%
Q3 2024
+0.2%
Q4 2024
-3.2%
Q1 2025
-0.2%
Q2 2025
+5.4%
Q3 2025
+2.1%
Q4 2025
-3.4%
Q1 2026
+10.6%
Sector allocation
Financials 56%
Technology 15%
Industrials 8%
Healthcare 6%
Consumer discretionary 6%
Services media 2%
Utilities 2%
Other 2%
Long book by quarter
What does Baldwin Investment own?
Q1 2026 13F| Company | Sector | Shares | Value | % of book | Change |
|---|---|---|---|---|---|
| BRK/A BERKSHIRE HATHAWAY INC-CL A | Financials | 555 | $398.6M | 46.6% | -0.2% |
| AVGO BROADCOM INC | Technology | 71.4K | $22.1M | 2.6% | -2.8% |
| NVDA NVIDIA CORP | Technology | 114.3K | $19.9M | 2.3% | -1.2% |
| LRCX LAM RESEARCH CORP | Industrials | 88.6K | $18.9M | 2.2% | -9.7% |
| AAPL APPLE INC | Technology | 70.6K | $17.9M | 2.1% | +0.9% |
| JPM JPMORGAN CHASE & CO | Financials | 48.2K | $14.2M | 1.7% | +0.1% |
| MSFT MICROSOFT CORP | Technology | 33.0K | $12.2M | 1.4% | +1.7% |
| COST COSTCO WHOLESALE CORP | Consumer discretionary | 11.6K | $11.5M | 1.3% | +2.0% |
| LLY ELI LILLY & CO | Healthcare | 10.9K | $10.1M | 1.2% | -0.3% |
| GOOGL ALPHABET INC-CL A | Technology | 33.5K | $9.6M | 1.1% | -0.5% |
| XOM EXXON MOBIL CORP | Energy | 55.2K | $9.4M | 1.1% | -1.9% |
| BRK/B BERKSHIRE HATHAWAY INC-CL B | Financials | 19.4K | $9.3M | 1.1% | +6.9% |
| AMZN AMAZON.COM INC | Consumer discretionary | 41.9K | $8.7M | 1.0% | +1.8% |
| RTX RTX CORP | Industrials | 44.5K | $8.6M | 1.0% | -0.7% |
| EPD ENTERPRISE PRODUCTS PARTNERS | Utilities | 191.8K | $7.3M | 0.8% | -0.1% |
| VRTX VERTEX PHARMACEUTICALS INC | Healthcare | 15.7K | $7.0M | 0.8% | +0.7% |
| V VISA INC-CLASS A SHARES | Services media | 21.4K | $6.5M | 0.8% | +0.2% |
| ABBV ABBVIE INC | Healthcare | 28.4K | $6.2M | 0.7% | -0.4% |
| VRT VERTIV HOLDINGS CO-A | Technology | 24.1K | $6.0M | 0.7% | +0.2% |
| CAT CATERPILLAR INC | Industrials | 8.0K | $5.7M | 0.7% | -1.9% |
| LIN LINDE PLC | Materials | 11.2K | $5.6M | 0.7% | -0.4% |
| GS GOLDMAN SACHS GROUP INC | Financials | 6.3K | $5.3M | 0.6% | -0.8% |
| ISRG INTUITIVE SURGICAL INC | Healthcare | 10.8K | $5.0M | 0.6% | +2.5% |
| SPGI S&P GLOBAL INC | Services media | 11.1K | $4.7M | 0.6% | +6.4% |
| ETN EATON CORP PLC | Industrials | 12.9K | $4.6M | 0.5% | +0.1% |
| BLK BLACKROCK INC | Financials | 4.6K | $4.4M | 0.5% | Held |
| BKR BAKER HUGHES CO | Industrials | 72.1K | $4.4M | 0.5% | -2.8% |
| JNJ JOHNSON & JOHNSON | Healthcare | 17.7K | $4.3M | 0.5% | -0.3% |
| GOOG ALPHABET INC-CL C | Technology | 15.0K | $4.3M | 0.5% | -3.2% |
| PANW PALO ALTO NETWORKS INC | Technology | 26.6K | $4.3M | 0.5% | +7.9% |
| ABT ABBOTT LABORATORIES | Healthcare | 39.8K | $4.1M | 0.5% | +0.7% |
| TMO THERMO FISHER SCIENTIFIC INC | Other | 8.1K | $4.0M | 0.5% | -0.1% |
| HD HOME DEPOT INC | Consumer discretionary | 11.6K | $3.8M | 0.4% | +5.3% |
| ROK ROCKWELL AUTOMATION INC | Other | 10.4K | $3.7M | 0.4% | 0.0% |
| NEE NEXTERA ENERGY INC | Utilities | 37.6K | $3.5M | 0.4% | -0.3% |
| MS MORGAN STANLEY | Financials | 19.5K | $3.2M | 0.4% | -0.9% |
| UNP UNION PACIFIC CORP | Industrials | 12.8K | $3.1M | 0.4% | -0.1% |
| TJX TJX COMPANIES INC | Consumer discretionary | 18.3K | $2.9M | 0.3% | +0.4% |
| COF CAPITAL ONE FINANCIAL CORP | Financials | 15.9K | $2.9M | 0.3% | +7.4% |
| ZTS ZOETIS INC | Healthcare | 22.0K | $2.6M | 0.3% | +0.6% |
| ADSK AUTODESK INC | Technology | 10.7K | $2.6M | 0.3% | +120.6% |
| WM WASTE MANAGEMENT INC | Utilities | 10.7K | $2.5M | 0.3% | -0.4% |
| LOW LOWE'S COS INC | Consumer discretionary | 10.2K | $2.4M | 0.3% | Held |
| DRI DARDEN RESTAURANTS INC | Consumer discretionary | 12.0K | $2.3M | 0.3% | -0.6% |
| MCD MCDONALD'S CORP | Consumer discretionary | 7.3K | $2.3M | 0.3% | -3.7% |
| DHR DANAHER CORP | Technology | 11.9K | $2.3M | 0.3% | -1.7% |
| DE DEERE & CO | Industrials | 3.8K | $2.1M | 0.2% | +14.9% |
| MA MASTERCARD INC - A | Services media | 4.2K | $2.1M | 0.2% | Held |
| FCX FREEPORT-MCMORAN INC | Materials | 35.7K | $2.1M | 0.2% | -4.3% |
| AXP AMERICAN EXPRESS CO | Financials | 6.9K | $2.1M | 0.2% | Held |
13F filing history
| Period | Form | Filed | Entries | Reported value | Flags | Source |
|---|---|---|---|---|---|---|
| Q1 2026 | 13F-HR | May 12, 2026 | 210 | $855.7M | canonical | SEC ↗ |
| Q4 2025 | 13F-HR | Feb 13, 2026 | 207 | $885.8M | canonical | SEC ↗ |
| Q3 2025 | 13F-HR | Nov 10, 2025 | 207 | $873.4M | canonical | SEC ↗ |
| Q2 2025 | 13F-HR | Aug 11, 2025 | 209 | $828.4M | canonical | SEC ↗ |
| Q1 2025 | 13F-HR | May 7, 2025 | 200 | $831.9M | canonical | SEC ↗ |
| Q4 2024 | 13F-HR | Feb 14, 2025 | 199 | $767.9M | canonical | SEC ↗ |
| Q3 2024 | 13F-HR | Nov 13, 2024 | 213 | $797.9M | canonical | SEC ↗ |
| Q2 2024 | 13F-HR | Jul 30, 2024 | 205 | $730.2M | canonical | SEC ↗ |
| Q1 2024 | 13F-HR | May 14, 2024 | 209 | $737.3M | canonical | SEC ↗ |
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