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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 9 of 11  ·  210 positions
# Ticker Company Sector Shares Value ↓ % Port Chg Shares Chg % Period Price ① Since Period ①
161 Iqvia Hldgs Inc 2,758.0 $470K 0.06% +200.0 +7.8% $170.54
162 TCOM Trip.com Group Ltd Consumer Cyclical 9,442.0 $470K 0.06% $49.79 -0.9%
163 VWO Vanguard FTSE Emerging Mkt ETF 8,688.0 $470K 0.06% $54.05 +7.1%
164 JCI Johnson Controls Inc Industrials 3,464.0 $454K 0.05% $130.95 +4.9%
165 FLKR Franklin FTSE South Korea ETF 11,225.0 $448K 0.05% NEW $39.87 +41.2%
166 NVR NVR Inc Consumer Cyclical 65.0 $428K 0.05% $6589.83 -13.2%
167 Leidos Holdings Inc 2,750.0 $428K 0.05% $155.52
168 CRWD Crowdstrike Hldgs Inc Technology 1,045.0 $408K 0.05% +205.0 +24.4% $390.41 +58.5%
169 SHW Sherwin Williams Co Basic Materials 1,232.0 $395K 0.05% $320.55 -5.5%
170 CBT Cabot Corporation Basic Materials 5,230.0 $394K 0.05% -300.0 -5.4% $75.31 +8.8%
171 ALL Allstate Corp Financial Services 1,850.0 $384K 0.04% $207.34 +8.3%
172 MU Micron Technology Inc Technology 1,101.0 $372K 0.04% -199.0 -15.3% $337.84 +101.7%
173 EFA iShares MSCI EAFE Index Fund 3,825.0 $372K 0.04% $97.13 +4.9%
174 GEV GE Vernova Inc. Utilities 420.0 $367K 0.04% +63.0 +17.6% $872.90 +16.0%
175 XLI Industrial Select Sector SPDR Fund 2,226.0 $360K 0.04% +356.0 +19.0% $161.72 +4.3%
176 AVUV Avantis US Small Cap Value ETF 3,248.0 $359K 0.04% +498.0 +18.1% $110.46 +6.1%
177 IYW iShares Trust Dow Jones US Tech Fund 1,930.0 $350K 0.04% $181.42 +29.3%
178 CHKP Check Point Software Technologies Technology 2,451.0 $350K 0.04% $142.85 -11.8%
179 FDX FedEx Corp Industrials 977.0 $348K 0.04% $356.18 +3.8%
180 BIDU Baidu Inc ADR Communication Services 3,102.0 $346K 0.04% $111.42 +23.6%
Page 9 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%