Baldwin Investment Management, LLC Buys Bristol-Myers Squibb Company, S&T Bancorp Inc, XPO Logistics Inc, Sells Celgene Corp, Corning Inc, FedEx Corp

• New Purchases: STBA, XPO, RDS.B, GSK, LPT, NVS, PM, CLV, VB,
• Added Positions: BMY, DHR, FISV, BX, ULTA, FL, TAK, JPM, NSP, UTX, NVDA, SCHD, CTVA, INFY, APA, VZ, PNC, PDI, CL,
• Reduced Positions: FDX, TSCO, VIG, HON, JNJ, SLB, TGP, BA, CAT, TROW, VO, XOM, RDS.A, VEA, IBB, TIP, VBR, PFE, XLF, XLK, LIN, SRPT, LAZ, ITW, IAC, GILD, EOG, CVX, IEP,
• Sold Out: CELG, GLW, DNBF, CBM, IBM, CHRW, CSCO, WFC,

For the details of Baldwin Investment Management, LLC's stock buys and sells, go to https://www.gurufocus.com/guru/baldwin+investment+management%2C+llc/current-portfolio/portfolio

1. Berkshire Hathaway Inc (BRK.A) - 587 shares, 54.43% of the total portfolio. Shares reduced by 0.34%
2. Apple Inc (AAPL) - 21,543 shares, 1.73% of the total portfolio.
3. Microsoft Corp (MSFT) - 28,365 shares, 1.22% of the total portfolio. Shares reduced by 0.7%
4. JPMorgan Chase & Co (JPM) - 31,465 shares, 1.20% of the total portfolio. Shares added by 1.61%
5. Fiserv Inc (FISV) - 29,186 shares, 0.92% of the total portfolio. Shares added by 4.61%

Baldwin Investment Management, LLC initiated holding in S&T Bancorp Inc. The purchase prices were between $35.19 and $40.88, with an estimated average price of $37.97. The stock is now traded at around $38.20. The impact to a portfolio due to this purchase was 0.08%. The holding were 7,218 shares as of .

Baldwin Investment Management, LLC initiated holding in XPO Logistics Inc. The purchase prices were between $68.59 and $85.67, with an estimated average price of $79.66. The stock is now traded at around $93.61. The impact to a portfolio due to this purchase was 0.07%. The holding were 3,405 shares as of .

Baldwin Investment Management, LLC initiated holding in Royal Dutch Shell PLC. The purchase prices were between $56.44 and $60.86, with an estimated average price of $58.87. The stock is now traded at around $51.56. The impact to a portfolio due to this purchase was 0.07%. The holding were 4,104 shares as of .

Baldwin Investment Management, LLC initiated holding in Vanguard Small-Cap ETF. The purchase prices were between $149.04 and $166.74, with an estimated average price of $159.59. The stock is now traded at around $166.42. The impact to a portfolio due to this purchase was 0.06%. The holding were 1,262 shares as of .

Baldwin Investment Management, LLC initiated holding in GlaxoSmithKline PLC. The purchase prices were between $41.19 and $47.32, with an estimated average price of $44.58. The stock is now traded at around $44.42. The impact to a portfolio due to this purchase was 0.06%. The holding were 4,300 shares as of .

Baldwin Investment Management, LLC initiated holding in Novartis AG. The purchase prices were between $84.35 and $95.37, with an estimated average price of $89.9. The stock is now traded at around $96.93. The impact to a portfolio due to this purchase was 0.06%. The holding were 2,142 shares as of .

Baldwin Investment Management, LLC added to a holding in Bristol-Myers Squibb Company by 198.81%. The purchase prices were between $49.21 and $64.19, with an estimated average price of $57.47. The stock is now traded at around $66.50. The impact to a portfolio due to this purchase was 0.38%. The holding were 32,645 shares as of .

Baldwin Investment Management, LLC added to a holding in Blackstone Group Inc by 23.61%. The purchase prices were between $45.61 and $56.3, with an estimated average price of $52.04. The stock is now traded at around $63.44. The impact to a portfolio due to this purchase was 0.04%. The holding were 14,400 shares as of .

Baldwin Investment Management, LLC added to a holding in Foot Locker Inc by 24.20%. The purchase prices were between $37.13 and $46.63, with an estimated average price of $42.07. The stock is now traded at around $38.91. The impact to a portfolio due to this purchase was 0.02%. The holding were 9,750 shares as of .

Baldwin Investment Management, LLC sold out a holding in Celgene Corp. The sale prices were between $97.62 and $110.41, with an estimated average price of $105.2.

Baldwin Investment Management, LLC sold out a holding in Corning Inc. The sale prices were between $27.27 and $30.61, with an estimated average price of $29.04.

Baldwin Investment Management, LLC sold out a holding in DNB Financial Corp. The sale prices were between $42.81 and $47.66, with an estimated average price of $45.28.

Baldwin Investment Management, LLC sold out a holding in International Business Machines Corp. The sale prices were between $131.91 and $143, with an estimated average price of $135.78.

Baldwin Investment Management, LLC sold out a holding in Cambrex Corp. The sale prices were between $59.46 and $59.99, with an estimated average price of $59.75.

Baldwin Investment Management, LLC sold out a holding in Wells Fargo & Co. The sale prices were between $47.82 and $54.46, with an estimated average price of $52.48.