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Institutional Investment Manager
Baldwin Investment Management, LLC
Baldwin Investment Management, LLC (CIK: 0001346378) incorporated in Pennsylvania, located at 1001 Conshohocken State Rd, West Conshohocken, PA. Institutional holdings reported to the SEC.

Institutional Holdings (2017Q1)
Portfolio Summary: 120 holdings with a total value of $258,197,000.
#
Name
Shares
Value ($)
%
Options
Notes
1 BERKSHIRE HATHAWAY INC DEL 621 155,157,000 60.09% SH
2 APPLE INC 26,218 3,766,000 1.46% SH
3 CUSTOMERS BANCORP INC COM 84,477 2,664,000 1.03% SH
4 ENTERPRISE PRODS PARTNERS L 92,800 2,562,000 0.99% SH
5 METTLER-TOLEDO 5,339 2,557,000 0.99% SH
6 CELGENE CORP 20,135 2,505,000 0.97% SH
7 AMAZON COM INC 2,530 2,243,000 0.87% SH
8 BERKSHIRE HATHAWAY B 12,450 2,075,000 0.80% SH
9 VISA INC 23,274 2,068,000 0.80% SH
10 NIKE INC 34,223 1,907,000 0.74% SH
11 JPMORGAN CHASE & CO 21,256 1,867,000 0.72% SH
12 ISHARES TR 25,530 1,766,000 0.68% SH
13 SCHLUMBERGER LTD 22,165 1,731,000 0.67% SH
14 COSTCO WHSL CORP NEW 10,050 1,685,000 0.65% SH
15 DANAHER CORP DEL 19,025 1,627,000 0.63% SH
16 ACCENTURE PLC IRELAND 13,240 1,587,000 0.61% SH
17 QUALCOMM INC 27,233 1,562,000 0.60% SH
18 STARBUCKS CORP 24,900 1,454,000 0.56% SH
19 TRACTOR SUPPLY CO 21,060 1,453,000 0.56% SH
20 THERMO FISHER SCIENTIFIC INC 9,222 1,416,000 0.55% SH
21 EXXON MOBIL CORP 17,188 1,410,000 0.55% SH
22 ZOETIS INC 26,383 1,408,000 0.55% SH
23 SPDR S&P 500 ETF TR 5,942 1,401,000 0.54% SH
24 CELANESE CORP DEL 15,300 1,375,000 0.53% SH
25 BROADCOM LTD 6,242 1,367,000 0.53% SH
26 ONEOK PARTNERS LP 24,776 1,338,000 0.52% SH
27 Adobe Systems Inc 10,050 1,308,000 0.51% SH
28 FORTIVE CORP 21,700 1,307,000 0.51% SH
29 AMERICAN TOWER CORP NEW 10,725 1,304,000 0.51% SH
30 UNION PAC CORP 12,246 1,297,000 0.50% SH
31 LOWES COS INC 15,075 1,239,000 0.48% SH
32 ABBVIE INC 18,817 1,226,000 0.47% SH
33 LAM RESEARCH CORP 9,500 1,219,000 0.47% SH
34 ALLERGAN PLC 4,729 1,130,000 0.44% SH
35 3M CO 5,891 1,127,000 0.44% SH
36 WELLS FARGO & CO NEW 19,968 1,111,000 0.43% SH
37 CVS HEALTH CORP 14,150 1,111,000 0.43% SH
38 ENVIVA PARTNERS LP 38,100 1,071,000 0.41% SH
39 ALPHABET INC 1,234 1,046,000 0.41% SH
40 CAPITAL ONE FINL CORP 11,607 1,006,000 0.39% SH
41 ALPHABET INC 1,163 965,000 0.37% SH
42 SMUCKER J M CO 7,352 964,000 0.37% SH
43 ABBOTT LABS 21,350 948,000 0.37% SH
44 FEDEX CORP 4,787 934,000 0.36% SH
45 MONDELEZ INTL INC 21,518 927,000 0.36% SH
46 TAKE-TWO INTERACTIVE SOFTWAR 15,000 889,000 0.34% SH
47 TATA MTRS LTD 24,043 857,000 0.33% SH
48 TAIWAN SEMICONDUCTOR MFG LTD 25,659 843,000 0.33% SH
49 JOHNSON & JOHNSON 6,725 838,000 0.32% SH
50 ISHARES TR 7,125 817,000 0.32% SH
Page 1 of 3

Portfolio data is normalized using SEC Form 13F filings, including the Original 13F-HR (0001346378-17-000002, filed 2017.05.09).

From 2023-01-03 onward, the SEC requires values to be reported in nearest dollars. Earlier filings reported values in thousands; therefore, positions shown as $0 in older filings may represent actual values between $0–$999.