The Baldwin Insurance Group, Inc.

BWIN • NASDAQ

The Baldwin Insurance Group, Inc. is a publicly traded company on NASDAQ, led by Trevor Lowry Baldwin, with a market cap of $3.1B. As of Q3 2025, 112% of shares are held by 208 institutional investors, with FMR LLC as the largest holder at 15.08%.

CEOTrevor Lowry Baldwin

Market Cap$3.1B

Employees3.9K

Websitebaldwin.com

Country

United States of America

Overview

Overview of institutional ownership in BWIN as of Q3 2025 with a market cap of $2.0B

All Institutions

Institutions: 208
Value Held: $2.2B
Shares Held: 79.6M
Avg Position: $10.8M
Median Position: $767.0K

Hedge Funds

Hedge Funds: 15
Value Held: $43.5M
Shares Held: 1.5M
Avg Position: $2.9M
Median Position: $990.2K

Ownership Breakdown

Institutional (non-HF)

109.49%

$2.2B

Hedge Funds

2.16%

$43.5M

Retail & Other

Based on market cap of $2.0B as of Q3 2025. Institutional (non-HF) excludes hedge funds to avoid double counting.

Biggest Investors

Institutions with the largest positions in BWIN as of Q3 2025

Institution	Key People	Position Value	Ownership	Owned Since	Total AUM (Long)
FMR LLC Institution	-	$303.4M 0.02% of portfolio	15.08% 10.8M shares	Q2 2024 Held for 1y 6m	$1.92T
VANGUARD GROUP INC Institution	Salim Ramji CEO	$185.2M 0.00% of portfolio	9.21% 6.6M shares	Q2 2024 Held for 1y 6m	$6.69T
BlackRock, Inc. Institution	Laurence D. Fink CEO	$145.9M 0.00% of portfolio	7.25% 5.2M shares	Q2 2024 Held for 1y 6m	$5.67T
WILLIAM BLAIR INVESTMENT MANAGEMENT, LLC Long Only Manager	Brent Walker Gledhill CEO	$144.0M 0.37% of portfolio	7.16% 5.1M shares	Q2 2024 Held for 1y 6m	$38.7B
Capital Research Global Investors RIA/Wealth	Maria Alejandra Herrera CIO	$127.3M 0.02% of portfolio	6.33% 4.5M shares	Q4 2024 Held for 1 year	$532.36B
C Champlain Investment Partners, LLC Long Only Manager	Judith Wilkinson O'Connell CEO	$110.5M 0.83% of portfolio	5.49% 3.9M shares	Q2 2024 Held for 1y 6m	$13.3B
C Capital International Investors Institution	-	$88.7M 0.01% of portfolio	4.41% 3.1M shares	Q2 2024 Held for 1y 6m	$617.62B
BAMCO INC /NY/ Long Only Manager	Ronald Stephen Baron CEO	$84.9M 0.23% of portfolio	4.22% 3.0M shares	Q2 2024 Held for 1y 6m	$37.7B
T T. Rowe Price Investment Management, Inc. Insurance Manager	John Edward Robison President	$84.7M 0.05% of portfolio	4.21% 3.0M shares	Q2 2024 Held for 1y 6m	$161.58B
WESTWOOD HOLDINGS GROUP INC Institution	Brian O. Casey CEO	$70.2M 0.51% of portfolio	3.49% 2.5M shares	Q1 2024 Held for 1y 9m	$13.8B

Net Capital Flow

Institutional buying and selling activity for BWIN in Q3 2025

Traded: +$68.0M
Buyers: 100
Sellers: 115
Total Bought: +$253.2M
Total Sold: −$185.2M
Avg Position: $8.9M

Biggest Buyers

Institution	Net Bought	Current Position
FMR LLC Institution	+$73.4M +2.6M shares	$303.4M 10.8M shares
Bank of New York Mellon Corp Institution	+$40.3M +1.4M shares	$64.7M 2.3M shares
C Champlain Investment Partners, LLC Long Only Manager	+$18.6M +659.4K shares	$110.5M 3.9M shares
WESTWOOD HOLDINGS GROUP INC Institution	+$16.0M +568.5K shares	$70.2M 2.5M shares
AMERIPRISE FINANCIAL INC Institution	+$14.2M +502.6K shares	$14.2M 502.6K shares
Tributary Capital Management, LLC Long Only Manager	+$11.1M +391.8K shares	$23.0M 815.5K shares
KENNEDY CAPITAL MANAGEMENT, INC. Long Only Manager	+$8.4M +298.7K shares	$16.9M 598.2K shares
A Artemis Investment Management LLP Institution	+$7.3M +257.7K shares	$7.3M 257.7K shares
C Capital World Investors Institution	+$7.1M +250.0K shares	$35.5M 1.3M shares
Aristotle Capital Boston, LLC Long Only Manager	+$6.5M +228.9K shares	$18.5M 656.0K shares

Biggest Sellers

Institution	Net Sold	Current Position
LOOMIS SAYLES & CO L P Long Only Manager	−$46.7M −1.1M shares	Sold Off 0 shares
EMERALD ADVISERS INC/PA Long Only Manager	−$17.2M −610.8K shares	$5.5M 195.5K shares
Granite Investment Partners, LLC Long Only Manager	−$14.8M −345.1K shares	Sold Off 0 shares
EMERALD MUTUAL FUND ADVISERS TRUST Long Only Manager	−$11.9M −420.2K shares	$1.5M 52.1K shares
M MACQUARIE GROUP LTD Institution	−$10.4M −369.9K shares	$61.0M 2.2M shares
WILLIAM BLAIR INVESTMENT MANAGEMENT, LLC Long Only Manager	−$8.4M −298.1K shares	$144.0M 5.1M shares
T T. Rowe Price Investment Management, Inc. Insurance Manager	−$6.6M −235.3K shares	$84.7M 3.0M shares
N Neuberger Berman Group LLC Institution	−$6.4M −148.9K shares	Sold Off 0 shares
C CI Private Wealth, LLC RIA/Wealth	−$6.2M −220.4K shares	$1.4M 49.4K shares
D D. E. Shaw & Co., Inc. Institution	−$5.9M −207.9K shares	$1.2M 41.3K shares

Entry and Exit Activity

Institutions that initiated new positions or completely exited BWIN in Q3 2025

New Positions: 20
New Value: $15.0M
Exited Positions: 42
Exited Value: $82.2M

New Positions

Institution	Position Value
A Artemis Investment Management LLP Institution	$7.3M 257.7K shares
D DARK FOREST CAPITAL MANAGEMENT LP Pension/Endowment	$1.5M 52.1K shares
FEDERATED INVESTORS INC /PA/ Long Only Manager	$1.2M 43.8K shares
Magnetar Financial LLC Hedge Fund•Multi-Strategy	$990.2K 35.1K shares
N NATIXIS Institution	$959.1K 34.0K shares
ENTREWEALTH, LLC RIA/Wealth	$812.1K 28.8K shares
A Austin Wealth Management, LLC RIA/Wealth	$678.2K 28.8K shares
Numerai GP LLC Hedge Fund•Quant	$409.6K 14.5K shares
E Elo Mutual Pension Insurance Co Institution	$346.2K 12.3K shares
SummitTX Capital, L.P. Hedge Fund•Multi-Strategy	$268.3K 9.5K shares

Exited Positions

Institution	Previous Position
LOOMIS SAYLES & CO L P Long Only Manager	$46.7M 1.1M shares
Granite Investment Partners, LLC Long Only Manager	$14.8M 345.1K shares
N Neuberger Berman Group LLC Institution	$6.4M 148.9K shares
SUSQUEHANNA INTERNATIONAL GROUP, LLP Private Equity	$3.8M 87.9K shares
Aubrey Capital Management Ltd Long Only Manager	$3.5M 82.3K shares
W Winton Capital Group Ltd Institution	$766.6K 17.9K shares
AQR CAPITAL MANAGEMENT LLC Hedge Fund•Multi-Strategy	$396.5K 9.3K shares
COMMERCE BANK RIA/Wealth	$375.1K 8.8K shares
RAYMOND JAMES FINANCIAL INC RIA/Wealth	$339.7K 7.9K shares
Verdence Capital Advisors LLC RIA/Wealth	$339.1K 7.9K shares

Options Activity

Institutions with the largest Call and Put options positions in BWIN as of Q3 2025

Call Positions: 3
Call Value: $4.0M
Put Positions: 1
Put Value: $363.9K

Call Positions

Institution	Position Value
Caption Management, LLC Hedge Fund•Long/Short	$2.4M 842.0 contracts
SUSQUEHANNA INTERNATIONAL GROUP, LLP Private Equity	$1.1M 406.0 contracts
CITADEL ADVISORS LLC Hedge Fund•Multi-Strategy	$471.1K 167.0 contracts

Put Positions

Institution	Position Value
SUSQUEHANNA INTERNATIONAL GROUP, LLP Private Equity	$363.9K 129.0 contracts

Most Committed Institutions

Institutions with BWIN as the highest % of their portfolio as of Q3 2025

Institution	Key People	Portfolio Weight	Ownership	Owned Since	Total AUM (Long)
V Venator Management LLC Hedge Fund•Long/Short	David Robert Fallgren CCO	5.23% $21.8M	1.08% 773.7K shares	Q2 2024 Held for 1y 6m	$417.0M
Otter Creek Advisors, LLC Hedge Fund•Long/Short	Justin Arthur Beals COO	3.66% $3.7M	0.18% 130.7K shares	Q2 2024 Held for 1y 6m	$100.8M
Tributary Capital Management, LLC Long Only Manager	Mark Alan Wynegar President	1.09% $23.0M	1.14% 815.5K shares	Q2 2024 Held for 1y 6m	$2.1B
Aristotle Capital Boston, LLC Long Only Manager	David Michael Adams CEO	0.95% $18.5M	0.92% 656.0K shares	Q2 2024 Held for 1y 6m	$2.0B
C Champlain Investment Partners, LLC Long Only Manager	Judith Wilkinson O'Connell CEO	0.83% $110.5M	5.49% 3.9M shares	Q2 2024 Held for 1y 6m	$13.3B
S Summit Creek Advisors LLC Long Only Manager	Joseph John Docter Managing Partner	0.69% $4.8M	0.24% 168.4K shares	Q1 2025 Held for 9 months	$686.1M
Pathway Financial Advisors LLC RIA/Wealth	Scott Anthony Beaudin CCO	0.52% $3.6M	0.18% 128.7K shares	Q2 2024 Held for 1y 6m	$699.0M
WESTWOOD HOLDINGS GROUP INC Institution	Brian O. Casey CEO	0.51% $70.2M	3.49% 2.5M shares	Q1 2024 Held for 1y 9m	$13.8B
L LAIRD NORTON TRUST COMPANY, LLC RIA/Wealth	Robert Scott Redmond President	0.47% $2.8M	0.14% 98.0K shares	Q3 2024 Held for 1y 3m	$582.0M
ENTREWEALTH, LLC RIA/Wealth	Jeffrey Edward Socha President	0.42% $812.1K	0.04% 28.8K shares	Q3 2025 Held for 3 months	$191.8M