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Portfolio (Quarterly) Guide ↗

Baldwin Investment Management, LLC

· CIK 0001346378
13F Portfolio $856M AUM 210 positions Filed May 12, 2026 EDGAR ↗ ← All Funds
Q1 2026 Q4 2025 · All 10 New 48 Added 52 Reduced 7 Exited
Page 4 of 11  ·  210 positions
# Ticker Company Sector Shares Value ↓ % Port Chg Shares Chg % Period Price ① Since Period ①
61 IJR iShares S&P Smallcap 600 14,919.0 $1.9M 0.22% +141.0 +0.9% $124.31 +7.1%
62 SPY S&P DEP Receipts Financial Services 2,847.0 $1.9M 0.22% -1K -30.5% $650.37 +12.8%
63 PEP Pepsico Inc. Consumer Defensive 11,694.0 $1.8M 0.21% $155.29 -4.0%
64 AMT American Tower REIT Real Estate 10,476.0 $1.8M 0.21% +175.0 +1.7% $172.58 +6.0%
65 ULTA Ulta Beauty Inc. Consumer Cyclical 3,389.0 $1.8M 0.21% $522.71 -8.2%
66 CVX Chevron Corp. Energy 8,550.0 $1.8M 0.21% $206.90 -5.2%
67 ASML ASML Holdings NV Technology 1,334.0 $1.8M 0.21% $1320.83 +10.5%
68 SO Southern Company Utilities 18,237.0 $1.8M 0.21% +1K +7.0% $96.52 -2.9%
69 IBM International Business Machines Corp Technology 7,239.0 $1.8M 0.20% +530.0 +7.9% $242.39 -8.1%
70 DIS Walt Disney Co Communication Services 18,080.0 $1.7M 0.20% +8K +80.0% $96.38 +7.9%
71 Viking Holdings 21,910.0 $1.6M 0.19% -1K -4.8% $73.48
72 AXTA Axalta Coating Systems Basic Materials 54,029.0 $1.5M 0.17% -4K -7.3% $27.70 +0.2%
73 META Meta Platforms Inc Communication Services 2,611.0 $1.5M 0.17% +289.0 +12.4% $572.20 +6.8%
74 WMT Wal-Mart Stores Inc. Consumer Defensive 11,587.0 $1.4M 0.17% +2K +18.4% $124.28 +7.3%
75 SNPS Synopsys Inc Technology 3,605.0 $1.4M 0.17% +506.0 +16.3% $396.48 +25.7%
76 ICE Intercontinental Exchange Financial Services 8,964.0 $1.4M 0.17% $157.28 -0.8%
77 FANG Diamondback Energy Energy 7,103.0 $1.4M 0.16% -1K -15.1% $197.79 +4.0%
78 BWA Borg Warner Inc Consumer Cyclical 25,457.0 $1.4M 0.16% +1K +6.0% $54.26 +12.7%
79 BX Blackstone Inc Financial Services 12,009.0 $1.4M 0.16% $114.99 -0.6%
80 HON Honeywell International Industrials 5,975.0 $1.4M 0.16% $226.03 -3.9%
Page 4 of 11  ·  210 positions

Period Price is the implied market price on the last day of the reporting period, calculated as reported value ÷ shares held. It is not the fund's purchase price or cost basis — the fund may have initiated or added to the position at any point during the quarter at a different price. Since Period shows the price change from that quarter-end snapshot to today's last price — it reflects stock movement after the report date, not the fund's actual return.

Sector Allocation
Technology 30.7%
Financial Services 14.3%
Healthcare 13.4%
Industrials 11.5%
Consumer Cyclical 8.1%
Energy 6.4%
Communication Services 4.9%
Consumer Defensive 4.6%
Basic Materials 3.4%
Utilities 1.9%