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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 7 of 11  ·  210 positions
# Ticker Company Sector Shares Value ↓ % Port Chg Shares Chg % Period Price ① Since Period ①
121 NVO Novo Nordisk Healthcare 21,549.0 $792K 0.09% $36.75 +20.5%
122 UNH UnitedHealth Group Healthcare 2,894.0 $783K 0.09% +20.0 +0.7% $270.59 +44.5%
123 LMT Lockheed Martin Corp Industrials 1,275.0 $771K 0.09% $604.39 -12.6%
124 WELL Welltower Inc Real Estate 3,876.0 $766K 0.09% -200.0 -4.9% $197.71 +7.5%
125 SCHD Schwab US Dividend Equity ETF 24,839.0 $762K 0.09% +4K +16.4% $30.68 +4.6%
126 GXO GXO Logistics Inc Industrials 14,667.0 $760K 0.09% -325.0 -2.2% $51.85 -9.1%
127 XLK Technology Select Sector SPDR Fund 5,700.0 $758K 0.09% $132.90 +30.4%
128 SCHF Schwab International Equity Fund 30,153.0 $746K 0.09% $24.75 +7.8%
129 ORCL Oracle Corp Technology 4,975.0 $732K 0.09% -2K -32.0% $147.11 +26.9%
130 BEP Brookfield Renewable Partners LP Utilities 21,459.0 $700K 0.08% $32.64 +4.3%
131 BSX Boston Scientific Corp Healthcare 11,035.0 $692K 0.08% -2K -13.7% $62.75 -9.5%
132 FTV Fortive Corp Technology 12,461.0 $689K 0.08% $55.28 +6.7%
133 INDA Ishares MSCI India Index 14,596.0 $684K 0.08% -4K -22.1% $46.84 +0.9%
134 CTAS Cintas Corp Industrials 4,000.0 $677K 0.08% $169.14 +3.2%
135 EWJ iShares MSCI Japan Index Fund 7,921.0 $669K 0.08% $84.44 +6.9%
136 CI Cigna Corporation Healthcare 2,500.0 $667K 0.08% $266.75 +9.2%
137 GLW Corning Inc Technology 4,860.0 $661K 0.08% -2K -32.5% $135.97 +31.3%
138 CMI Cummins Inc Industrials 1,225.0 $659K 0.08% -15.0 -1.2% $538.02 +22.6%
139 MRK Merck & Co Inc Healthcare 5,370.0 $646K 0.07% $120.29 -6.4%
140 ADP Automatic Data Processing Inc Industrials 3,104.0 $631K 0.07% $203.18 +8.5%
Page 7 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%