Baldwin Investment Management, LLC

Q3 2025 13F-HR Holdings

Location
West Conshohocken, PA
Holdings as of
9/30/2025
Date filed
11/10/2025
Form type
13F-HR
Num holdings
207
Total value ($000)
$873,386
Net value change ($000)
+45,013 (5.4%)
New positions
6
Sold out positions
8
Turnover %
0.6%
Sector allocation + QoQ delta (equities-only)
Prev filing: 8/11/2025 Next filing: 2/13/2026 SEC filing

Snapshot: Change Analysis

Compared to Q2 2025
Methodology: sector metrics are equities-only; instrument mix chart is ex-options; options exposure is shown separately. Why this matters.
Top Adds (Value $000, Stocks/ETFs)
BRK-B 14,122 3.5%
AAPL 3,597 24.2%
LRCX 3,488 35.2%
NVDA 2,945 15.4%
AVGO 2,790 13.3%
RTX 2,396 49.5%
GOOGL 2,170 35.9%
ABBV 1,414 26.7%
JPM 1,194 8.4%
GOOGL 1,052 37.7%
Top Reduces (Value $000, Stocks/ETFs)
STZ -828 -60.0%
FISV -786 -33.1%
SKAA -727 -100.0%
ACN -725 -21.7%
S -694 -100.0%
ISRG -632 -11.8%
LMT -573 -46.0%
UNP -536 -14.8%
CAVA -483 -100.0%
AMT -382 -13.0%
Instrument mix + QoQ Δ (ex-options)
How this table is calculated: SEC VALUE ($000) is used as reported. For derivatives (PUT/CALL/WARRANT/RIGHT), SEC value represents reported underlying exposure, not premium cash paid/received. Column % is bucket-based: non-options share is calculated inside non-option total, options share is calculated inside options total. Details.
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Instrument:
Issuer Name Ticker Sector Industry Class History Value ($000) % Shares Shares Δ Shares Δ% Value Δ ($000) Value Δ% Principal Option Type