BWINNasdaqInsurance Agents, Brokers & ServiceFiscal year ends December 31
Baldwin Insurance Group, Inc.
Financials through Q2 FY2026, quarter ended Jun 30, 2026Last filing: 10-Q on Jul 30, 2026
$31.87−0.04 (-0.13%)
Close on Oct 19, 2026
- Market cap
- $2.96B
- P/E (TTM)
- –
- Dividend yield
- –
Ownership
Institutional holdings as of Jun 30, 2026, from 13F filings
Held by institutions
64.1%
89M of 139M shares
Institutional holders
227
39 new, 25 sold out
Net institutional buying
0M
In Q2 2026
Insider trades, 12 months
2 buys · 12 sales
Net sold $12.25M
Shares held by institutions
Holders of more than 5%
Latest Schedule 13D (active) or 13G (passive) filed by each holder
| Holder | Shares | % of class | Filing | As of |
|---|---|---|---|---|
| William Blair Investment Management, LLC | 6,794,492 | 7.00% | 13G (passive) amendment | Mar 31, 2026 |
| Paul J. Glazer | 5,179,906 | 5.35% | 13G (passive) | Sep 18, 2026 |
| BlackRock, Inc. | 4,612,410 | 7.20% | 13G (passive) amendment | Dec 31, 2023 |
| Champlain Investment Partners, LLC | 3,915,879 | 5.50% | 13G (passive) | Sep 30, 2025 |
| L. Lowry Baldwin | 19,938,909 | 17.00% | 13G (passive) amendment | Mar 31, 2026 |
| FMR LLC | 10,697,221 | 15.00% | 13G (passive) amendment | Sep 30, 2025 |
Top institutional holders
13F holdings as of Jun 30, 2026
| Holder | Shares | % of BWIN | Value | Change | % of portfolio |
|---|---|---|---|---|---|
| FMR LLC | 14,752,216 | 10.58% | $392.11M | +798,154 | 0.02% |
| BlackRock, Inc. | 7,251,950 | 5.20% | $192.76M | +600,650 | 0.00% |
| William Blair Investment Management, LLC | 6,732,965 | 4.83% | $178.96M | −61,527 | 0.54% |
| Vanguard Portfolio Management LLC | 3,262,912 | 2.34% | $86.73M | −212,219 | 0.00% |
| Vanguard Capital Management LLC | 3,166,381 | 2.27% | $84.16M | −298,538 | 0.00% |
| Bank of New York Mellon Corp | 3,077,351 | 2.21% | $81.80M | −840,736 | 0.01% |
| Bamco Inc /Ny/ | 2,712,386 | 1.94% | $72.10M | +2,318 | 0.11% |
| State Street Corp | 2,665,874 | 1.91% | $70.83M | +192,620 | 0.00% |
| Geode Capital Management, LLC | 2,339,453 | 1.68% | $62.19M | +188,420 | 0.00% |
| Morgan Stanley | 2,277,033 | 1.63% | $60.52M | +473,826 | 0.00% |
| Woodline Partners LP | 2,264,135 | 1.62% | $60.18M | +1,774,195 | 0.19% |
| Frontier Capital Management Co LLC | 2,097,658 | 1.50% | $55.76M | +995,206 | 0.52% |
| T. Rowe Price Investment Management, Inc. | 2,010,989 | 1.44% | $53.45K | +438,186 | 0.04% |
| Westwood Holdings Group Inc | 1,938,370 | 1.39% | $51.52M | −638,826 | 0.39% |
| Nomura Asset Management International Inc. | 1,912,711 | 1.37% | $50.84M | −67,172 | 0.08% |
| Capital International Investors | 1,690,697 | 1.21% | $44.94M | +47,140 | 0.01% |
| UBS Group AG | 1,641,349 | 1.18% | $43.63M | +374,524 | 0.01% |
| Annis Gardner Whiting Capital Advisors, LLC | 1,582,587 | 1.13% | $42.07M | −134,951 | 6.31% |
| Dimensional Fund Advisors LP | 1,346,168 | 0.97% | $35.78M | +12,297 | 0.01% |
| Capital Research Global Investors | 1,308,203 | 0.94% | $34.77M | −234,646 | 0.00% |
Institutional buying and selling by quarter
Positions opened, added to, reduced and closed by 13F filers
| Quarter | Holders | Shares held | % of shares | New / added | Reduced / closed | Shares bought | Shares sold |
|---|---|---|---|---|---|---|---|
| Q2 2026 | 227 | 89M | 64.1% | 39 / 70 | 77 / 25 | 11M | 10M |
| Q1 2026 | 218 | 90M | 64.9% | 46 / 91 | 51 / 30 | 29M | 13M |
| Q4 2025 | 206 | 81M | 58.2% | 42 / 80 | 53 / 44 | 14M | 13M |
| Q3 2025 | 213 | 81M | 57.9% | 31 / 68 | 77 / 42 | 10M | 7M |
| Q2 2025 | 226 | 78M | 55.8% | 32 / 93 | 68 / 26 | 8M | 3M |
| Q1 2025 | 221 | 73M | 52.1% | 39 / 85 | 62 / 22 | 8M | 3M |
| Q4 2024 | 208 | 68M | 48.6% | 28 / 82 | 65 / 37 | 9M | 8M |
| Q3 2024 | 219 | 66M | 47.7% | 50 / 62 | 76 / 14 | 13M | 7M |
| Q2 2024 | 184 | 65M | 46.3% | 40 / 73 | 46 / 26 | 5M | 4M |
| Q1 2024 | 172 | 64M | 45.6% | 32 / 52 | 62 / 22 | 6M | 3M |
| Q4 2023 | 162 | 61M | 43.7% | 32 / 57 | 52 / 21 | 9M | 7M |
| Q3 2023 | 153 | 59M | 42.5% | 15 / 58 | 55 / 9 | 6M | 4M |
Top mutual fund and ETF holders
Latest monthly portfolio reports (Form N-PORT)
| Fund | Shares | % of BWIN | Value | % of fund | As of |
|---|---|---|---|---|---|
| Strategic Advisers Fidelity U.S. Total Stock Fund | 3,697,792 | 2.65% | $71.81M | 0.03% | May 31, 2026 |
| SMALLCAP World Fund Inc | 2,916,599 | 2.09% | $77.52M | 0.08% | Jun 30, 2026 |
| Baron Small Cap Fund | 2,700,000 | 1.94% | $71.77M | 2.52% | Jun 30, 2026 |
| iShares Russell 2000 ETF | 2,555,851 | 1.83% | $67.93M | 0.08% | Jun 30, 2026 |
| Vanguard Total Stock Market Index Fund | 2,173,804 | 1.56% | $57.78M | 0.00% | Jun 30, 2026 |
| Fidelity Balanced Fund | 2,026,641 | 1.45% | $39.36M | 0.06% | May 31, 2026 |
| Vanguard Small-Cap Index Fund | 1,563,988 | 1.12% | $41.57M | 0.02% | Jun 30, 2026 |
| Nomura Small Cap Core Fund | 1,551,313 | 1.11% | $30.13M | 0.55% | May 29, 2026 |
| Fidelity Small Cap Value Fund | 1,162,119 | 0.83% | $32.24M | 0.59% | Jul 31, 2026 |
| Fidelity U.S. Equity Central Fund | 1,083,300 | 0.78% | $28.79M | 0.12% | Jun 30, 2026 |
| Fidelity Small Cap Index Fund | 1,071,840 | 0.77% | $29.73M | 0.09% | Jul 31, 2026 |
| T. Rowe Price Small-Cap Value Fund, Inc. | 1,066,984 | 0.76% | $28.36M | 0.27% | Jun 30, 2026 |
| BNY Mellon Small/Mid Cap Growth Fund | 1,054,196 | 0.76% | $28.02M | 3.23% | Jun 30, 2026 |
| Vanguard Extended Market Index Fund | 914,371 | 0.66% | $24.30M | 0.02% | Jun 30, 2026 |
| iShares Russell 2000 Growth ETF | 905,379 | 0.65% | $24.06M | 0.16% | Jun 30, 2026 |
Officers, directors and major owners
People who filed Forms 3, 4 or 5 in the last two years
| Name | Role | Shares owned | % of shares | Latest filing |
|---|---|---|---|---|
| Trevor Baldwin | Chief Executive Officer, Director | 2,074,613 | 1.49% | Mar 17, 2026 |
| Willis Johnathan Daniel | Interim CAO | 38,553 | 0.03% | Jun 17, 2026 |
| Seth Bala Cohen | General Counsel | 14,024 | 0.01% | May 15, 2026 |
| Bradford Hale | Chief Financial Officer | 304,672 | 0.22% | Apr 3, 2026 |
| Corbyn N. Lichon | Chief Accounting Officer | 57,291 | 0.04% | Apr 3, 2026 |
| James Morgan Roche | See Remarks | 1,104,223 | 0.79% | Mar 17, 2026 |
| Daniel Galbraith | See Remarks | 1,264,880 | 0.91% | Mar 17, 2026 |
| Barbara Ruth Matas | Director | 19,600 | 0.01% | Jul 2, 2026 |
| Chris Thomas Sullivan | Director | 85,682 | 0.06% | Jul 2, 2026 |
| Myron K. Williams | Director | 14,445 | 0.01% | Jul 2, 2026 |
| Joseph John Kadow | Director | 24,600 | 0.02% | Jul 2, 2026 |
| Sunita Parasuraman | Director | 14,445 | 0.01% | Jul 2, 2026 |
| Sathish Muthukrishnan | Director | 10,254 | 0.01% | Jul 2, 2026 |
| Jay A. Cohen | Director | 18,623 | 0.01% | Jul 2, 2026 |
| Ellyn Shook | Director | 14,445 | 0.01% | Jul 2, 2026 |
| Paul Eugene Sparks | Director | 1,113,817 | 0.80% | Jul 2, 2026 |
| Lowry Baldwin | Director, 10% owner | 12,537,590 | 8.99% | Mar 4, 2026 |
| Elizabeth Krystyn | – | 1,198,100 | 0.86% | May 8, 2026 |
| Bigh, Llc | 10% owner | 12,537,590 | 8.99% | Mar 4, 2026 |
| Laura Sherman | – | 2,237,544 | 1.60% | Apr 3, 2025 |
Insider trades
Common stock transactions reported on Form 4, newest first
| Insider | Date | Transaction | Shares | Price | Value | Shares after |
|---|---|---|---|---|---|---|
| Chris Thomas Sullivan Director | Jul 1, 2026 | Award | +1,207 | – | – | 85,682 |
| Barbara Ruth Matas Director | Jul 1, 2026 | Award | +1,207 | – | – | 19,600 |
| Paul Eugene Sparks Director | Jul 1, 2026 | Tax withholding | −416 | $26.91 | $11.19K | 2,282 |
| Paul Eugene Sparks Director | Jul 1, 2026 | Award | +1,207 | – | – | 2,698 |
| Sunita Parasuraman Director | Jul 1, 2026 | Award | +1,207 | – | – | 14,445 |
| Joseph John Kadow Director | Jul 1, 2026 | Award | +1,207 | – | – | 19,600 |
| Sathish Muthukrishnan Director | Jul 1, 2026 | Award | +1,207 | – | – | 10,254 |
| Jay A. Cohen Director | Jul 1, 2026 | Award | +1,207 | – | – | 18,623 |
| Ellyn Shook Director | Jul 1, 2026 | Award | +1,207 | – | – | 14,445 |
| Myron K. Williams Director | Jul 1, 2026 | Award | +1,207 | – | – | 14,445 |
| Seth Bala Cohen General Counsel | May 14, 2026 | Sale | −15,000 | $20.01 | $300.15K | 14,024 |
| Elizabeth Krystyn – | May 7, 2026 | Sale | −31,740 | $21.18 | $672.25K | 0 |
| Elizabeth Krystyn – | May 7, 2026 | Sale | −98,278 | $21.20 | $2.08M | 0 |
| Elizabeth Krystyn – | May 6, 2026 | Conversion | −152,000 | – | – | 1,198,100 |
| Elizabeth Krystyn – | May 6, 2026 | Conversion | +152,000 | – | – | 152,000 |
| Elizabeth Krystyn – | May 6, 2026 | Sale | −18,260 | $21.20 | $387.11K | 31,740 |
| Elizabeth Krystyn – | May 6, 2026 | Conversion | +50,000 | – | – | 50,000 |
| Elizabeth Krystyn – | May 6, 2026 | Conversion | −50,000 | – | – | 396,912 |
| Elizabeth Krystyn – | May 6, 2026 | Sale | −53,722 | $21.19 | $1.14M | 98,278 |
| Myron K. Williams Director | Apr 1, 2026 | Award | +1,221 | – | – | 13,238 |
| Sunita Parasuraman Director | Apr 1, 2026 | Award | +1,221 | – | – | 13,238 |
| Barbara Ruth Matas Director | Apr 1, 2026 | Award | +1,221 | – | – | 18,393 |
| Bradford Hale Chief Financial Officer | Apr 1, 2026 | Tax withholding | −9,837 | $21.53 | $211.79K | 174,501 |
| Sathish Muthukrishnan Director | Apr 1, 2026 | Award | +1,221 | – | – | 9,047 |
| Chris Thomas Sullivan Director | Apr 1, 2026 | Award | +1,221 | – | – | 84,475 |
| Paul Eugene Sparks Director | Apr 1, 2026 | Award | +2,275 | – | – | 2,275 |
| Paul Eugene Sparks Director | Apr 1, 2026 | Tax withholding | −784 | $21.53 | $16.88K | 1,491 |
| Corbyn N. Lichon Chief Accounting Officer | Apr 1, 2026 | Award | +2,033 | – | – | 57,291 |
| Ellyn Shook Director | Apr 1, 2026 | Award | +1,221 | – | – | 13,238 |
| Jay A. Cohen Director | Apr 1, 2026 | Award | +1,221 | – | – | 17,416 |
| Joseph John Kadow Director | Apr 1, 2026 | Award | +1,221 | – | – | 18,393 |
| Seth Bala Cohen General Counsel | Mar 15, 2026 | Tax withholding | −283 | $21.06 | $5.96K | 29,287 |
| Seth Bala Cohen General Counsel | Mar 15, 2026 | Tax withholding | −254 | $21.06 | $5.35K | 29,570 |
| Seth Bala Cohen General Counsel | Mar 15, 2026 | Tax withholding | −263 | $21.06 | $5.54K | 29,024 |
| Daniel Galbraith See Remarks | Mar 15, 2026 | Tax withholding | −556 | $21.06 | $11.71K | 43,888 |
| Daniel Galbraith See Remarks | Mar 15, 2026 | Tax withholding | −402 | $21.06 | $8.47K | 43,486 |
| James Morgan Roche See Remarks | Mar 15, 2026 | Tax withholding | −501 | $21.06 | $10.55K | 322,437 |
| Bradford Hale Chief Financial Officer | Mar 15, 2026 | Tax withholding | −556 | $21.06 | $11.71K | 184,740 |
| Bradford Hale Chief Financial Officer | Mar 15, 2026 | Tax withholding | −402 | $21.06 | $8.47K | 184,338 |
| Trevor Baldwin Chief Executive Officer, Director | Mar 15, 2026 | Tax withholding | −670 | $21.06 | $14.11K | 104,549 |
| Trevor Baldwin Chief Executive Officer, Director | Mar 15, 2026 | Tax withholding | −1,297 | $21.06 | $27.31K | 105,219 |
| Corbyn N. Lichon Chief Accounting Officer | Mar 15, 2026 | Tax withholding | −96 | $21.06 | $2.02K | 55,328 |
| Corbyn N. Lichon Chief Accounting Officer | Mar 15, 2026 | Tax withholding | −121 | $21.06 | $2.55K | 55,424 |
| Corbyn N. Lichon Chief Accounting Officer | Mar 15, 2026 | Tax withholding | −70 | $21.06 | $1.47K | 55,258 |
| Corbyn N. Lichon Chief Accounting Officer | Mar 15, 2026 | Tax withholding | −102 | $21.06 | $2.15K | 55,545 |
| Elizabeth Krystyn – | Mar 6, 2026 | Conversion | +29,431 | – | – | 29,431 |
| Elizabeth Krystyn – | Mar 6, 2026 | Conversion | +90,556 | – | – | 90,556 |
| Elizabeth Krystyn – | Mar 6, 2026 | Conversion | −29,431 | – | – | 446,912 |
| Elizabeth Krystyn – | Mar 6, 2026 | Sale | −29,431 | $21.25 | $625.41K | 0 |
| Elizabeth Krystyn – | Mar 6, 2026 | Conversion | −90,556 | – | – | 1,350,100 |
| Elizabeth Krystyn – | Mar 6, 2026 | Sale | −90,556 | $21.25 | $1.92M | 0 |
| Trevor Baldwin Chief Executive Officer, Director | Mar 3, 2026 | Tax withholding | −30,288 | $22.29 | $675.12K | 106,516 |
| Trevor Baldwin Chief Executive Officer, Director | Mar 3, 2026 | Award | +76,972 | – | – | 136,804 |
| James Morgan Roche See Remarks | Mar 3, 2026 | Award | +34,807 | – | – | 337,617 |
| James Morgan Roche See Remarks | Mar 3, 2026 | Tax withholding | −14,679 | $22.29 | $327.19K | 322,938 |
| Bradford Hale Chief Financial Officer | Mar 3, 2026 | Award | +28,986 | – | – | 195,556 |
| Bradford Hale Chief Financial Officer | Mar 3, 2026 | Tax withholding | −10,260 | $22.29 | $228.70K | 185,296 |
| Seth Bala Cohen General Counsel | Mar 3, 2026 | Tax withholding | −7,217 | $22.29 | $160.87K | 29,824 |
| Seth Bala Cohen General Counsel | Mar 3, 2026 | Award | +19,324 | – | – | 37,041 |
| Daniel Galbraith See Remarks | Mar 3, 2026 | Tax withholding | −10,232 | $22.29 | $228.07K | 44,444 |
Awards, option exercises, tax withholding and gifts are shown alongside open-market buys and sales. Each name links to the filing on SEC EDGAR.
Planned insider sales
Notices of proposed sale filed on Form 144 before shares are sold
| Seller | Filed | Shares | Market value | Planned sale | Acquired through |
|---|---|---|---|---|---|
| Seth Bala Cohen Officer | May 14, 2026 | 15,000 | $297.44K | May 14, 2026 | Bonus |
| Elizabeth Krystyn Officer | May 6, 2026 | 202,000 | $4.36M | May 6, 2026 | Redemption/Exchange of Class B Common and LLC Units held by Trust for Class A Common w/ Class B Common and LLC Units acquired in connection with corporate reorganization at IPO |
| Elizabeth Krystyn Officer | Mar 6, 2026 | 119,987 | $2.58M | Mar 6, 2026 | REDEMPTION/EXCHANGE OF CLASS B COMMON AND LLC UNITS HELD BY TRUST FOR CLASS A COMMON W/CLASS B COMMON AND LLC UNITS ACQUIRED IN CONNECTION WITH CORPORATE REORG AT IPO |
| James Morgan Roche Officer | Dec 15, 2025 | 80,000 | $1.92M | Dec 15, 2025 | Redemption/exchange of Class B common and LLC units for class A common acquired in connection with corporate reorganization at IPO |
| James Morgan Roche Officer | Dec 12, 2025 | 100,000 | $2.42M | Dec 12, 2025 | Redemption/exchange of Class B common and LLC units for class A common acquired in connection with corporate reorganization at IPO |
| James Morgan Roche Officer | Dec 12, 2025 | 100,000 | $2.42M | Dec 12, 2025 | Redemption/exchange of Class B common and LLC units for Class A common acquired in connection with corporate reorganization at IPO |
| James Morgan Roche Officer | Dec 11, 2025 | 60,000 | $1.40M | Dec 11, 2025 | Redemption/exchange of Class B common and LLC units for Class A common acquired in connection with corporate reorganization at IPO |
| James Morgan Roche Officer | Dec 5, 2025 | 15,000 | $376.16K | Dec 5, 2025 | Redemption/exchange of Class B common and LLC units for class A common acquired in connection with corporate reorganization at IPO |
| Seth Bala Cohen Officer | Aug 13, 2025 | 2,775 | $93.07K | Aug 13, 2025 | RSA |
| James Morgan Roche Officer | Jun 13, 2025 | 26,679 | $1.07M | Jun 13, 2025 | Redemption/exchange of Class B LLC unites for Class A common acquired in connection with corporate reorganization at IPO on 10/28/2019 |
| Trevor Baldwin Officer | Jun 12, 2025 | 117,000 | $4.66M | Jun 12, 2025 | REDEMPTION/EXCHANGE OF CLASS B COMMON AND LLC UNITS HELD BY TRUST FOR CLASS A COMMON W/CLASS B COMMON AND LLC UNITS ACQUIRED IN CONNECTION WITH CORPORATE REORG AT IPO |
| James Morgan Roche Officer | Jun 12, 2025 | 10,894 | $436.14K | Jun 12, 2025 | REDEMPTION/EXCHANGE OF CLASS B LLC UNITS FOR CLASS A COMMON ACQUIRED IN CONNECTION WITH CORPORATE REORGANIZATION AT IPO ON 10/28/2019 |
| Trevor Baldwin Officer | Jun 11, 2025 | 58,000 | $2.23M | Jun 11, 2025 | REDEMPTION/EXCHANGE OF CLASS B COMMON AND LLC UNITS HELD BY TRUST FOR CLASS A COMMON W/CLASS B COMMON AND LLC UNITS ACQUIRED IN CONNECTION WITH CORPORATE REORG AT IPO |
| Lowry Baldwin affiliate | Jun 9, 2025 | 50,000 | $1.95M | Jun 9, 2025 | REDEMPTION/EXCHANGE OF CLASS B COMMON AND LLC UNITS HELD BY TRUST FOR CLASS A COMMON W/CLASS B COMMON AND LLC UNITS ACQUIRED IN CONNECTION WITH CORPORATE REORG AT IPO |
| James Morgan Roche Officer | Jun 4, 2025 | 7,142 | $286.23K | Jun 4, 2025 | COMPENSATION |