Baldwin Investment Management’s Texas Pacific Land TPL Stock Holding History

Bought

Maintained

Sold

Quarter	Market Value	Status	Shares	Change in Stake	Trade Value	Portfolio Weight	Portfolio Position
2022 Q2	–	Sell	-6,300	Closed	-$946	–	232
2022 Q1	$946	Hold	6,300	–	–	0.14%	106
2021 Q4	$874	Hold	6,300	–	–	0.14%	116
2021 Q3	$847K	Sell	6,300 -900	-13%	-$140K	0.15%	110
2021 Q2	$1.28M	Sell	7,200 -1,800	-20%	-$313K	0.22%	79
2021 Q1	$1.59M	Hold	9,000	–	–	0.29%	64
2020 Q4	$727K	Hold	9,000	–	–	0.14%	114
2020 Q3	$452K	Hold	9,000	–	–	0.11%	130
2020 Q2	$595K	Hold	9,000	–	–	0.19%	83
2020 Q1	$380K	Hold	9,000	–	–	0.13%	103
2019 Q4	$781K	Hold	9,000	–	–	0.21%	75
2019 Q3	$650K	Hold	9,000	–	–	0.19%	79
2019 Q2	$787K	Hold	9,000	–	–	0.23%	70
2019 Q1	$774K	Hold	9,000	–	–	0.23%	70
2018 Q4	$542K	Hold	9,000	–	–	0.17%	86
2018 Q3	$863K	Hold	9,000	–	–	0.25%	65
2018 Q2	$695K	Buy	+9,000	New	+$631K	0.22%	78