Texas Windstorm Insurance Association

TWFG • XNAS

Texas Windstorm Insurance Association is a insurance agents, brokers & service company on XNAS, with a market cap of $435.7M. As of Q3 2025, 81% of shares are held by 67 institutional investors, with T. Rowe Price Investment Management, Inc. as the largest holder at 18.8%.

Market Cap$435.7M

INSURANCE AGENTS, BROKERS & SERVICE

Websitetwfg.com

Overview

Overview of institutional ownership in TWFG as of Q3 2025 with a market cap of $411.7M

All Institutions

Institutions: 67
Value Held: $334.1M
Shares Held: 12.2M
Avg Position: $5.0M
Median Position: $1.3M

Hedge Funds

Hedge Funds: 12
Value Held: $24.5M
Shares Held: 893.0K
Avg Position: $2.0M
Median Position: $1.5M

Ownership Breakdown

Institutional (non-HF)

75.19%

$309.6M

Hedge Funds

5.95%

$24.5M

Retail & Other

18.86%

$77.6M

Based on market cap of $411.7M as of Q3 2025. Institutional (non-HF) excludes hedge funds to avoid double counting.

Biggest Investors

Institutions with the largest positions in TWFG as of Q3 2025

Institution	Key People	Position Value	Ownership	Owned Since	Total AUM (Long)
T T. Rowe Price Investment Management, Inc. Insurance Manager	John Edward Robison President	$77.4M 0.05% of portfolio	18.80% 2.8M shares	Q3 2024 Held for 1y 2m	$161.58B
ALLIANCEBERNSTEIN L.P. Long Only Manager	Seth Perry Bernstein CEO	$31.2M 0.01% of portfolio	7.58% 1.1M shares	Q3 2024 Held for 1y 2m	$317.45B
FMR LLC Institution	-	$29.9M 0.00% of portfolio	7.27% 1.1M shares	Q3 2024 Held for 1y 2m	$1.92T
BAMCO INC /NY/ Long Only Manager	Ronald Stephen Baron CEO	$26.2M 0.07% of portfolio	6.36% 954.1K shares	Q3 2024 Held for 1y 2m	$37.7B
VANGUARD GROUP INC Institution	Salim Ramji CEO	$17.6M 0.00% of portfolio	4.26% 639.7K shares	Q3 2024 Held for 1y 2m	$6.69T
RIVERBRIDGE PARTNERS LLC Long Only Manager	Mark Albright Thompson Chairman	$14.9M 0.25% of portfolio	3.62% 542.7K shares	Q2 2025 Held for 5 months	$5.9B
N Nuveen, LLC Institution	-	$13.6M 0.00% of portfolio	3.30% 495.1K shares	Q1 2025 Held for 8 months	$377.89B
C CENTRAL SECURITIES CORP Institution	-	$12.3M 1.02% of portfolio	3.00% 450.0K shares	Q3 2025 Held for 2 months	$1.2B
C Capital International Investors Institution	-	$12.3M 0.00% of portfolio	2.98% 447.0K shares	Q3 2024 Held for 1y 2m	$615.90B
VICTORY CAPITAL MANAGEMENT INC Long Only Manager	David Craig Brown CEO	$9.6M 0.01% of portfolio	2.34% 351.5K shares	Q1 2025 Held for 8 months	$158.22B

Net Capital Flow

Institutional buying and selling activity for TWFG in Q3 2025

Traded: +$9.4M
Buyers: 39
Sellers: 44
Total Bought: +$56.0M
Total Sold: −$46.6M
Avg Position: $3.7M

Biggest Buyers

Institution	Net Bought	Current Position
C CENTRAL SECURITIES CORP Institution	+$12.3M +450.0K shares	$12.3M 450.0K shares
T T. Rowe Price Investment Management, Inc. Insurance Manager	+$10.0M +365.6K shares	$77.4M 2.8M shares
RIVERBRIDGE PARTNERS LLC Long Only Manager	+$5.4M +198.4K shares	$14.9M 542.7K shares
BRASADA CAPITAL MANAGEMENT, LP Real Assets	+$4.7M +169.4K shares	$4.7M 169.4K shares
VICTORY CAPITAL MANAGEMENT INC Long Only Manager	+$3.5M +128.2K shares	$9.6M 351.5K shares
FMR LLC Institution	+$3.4M +122.5K shares	$29.9M 1.1M shares
Giverny Capital Inc. RIA/Wealth	+$3.4M +122.5K shares	$8.2M 300.3K shares
GEODE CAPITAL MANAGEMENT LLC ETF Provider	+$1.9M +67.5K shares	$6.0M 219.8K shares
Woodline Partners LP Hedge Fund•Long/Short	+$1.6M +58.0K shares	$1.6M 58.0K shares
BAMCO INC /NY/ Long Only Manager	+$1.4M +52.1K shares	$26.2M 954.1K shares

Biggest Sellers

Institution	Net Sold	Current Position
DRIEHAUS CAPITAL MANAGEMENT LLC Hedge Fund•Event Driven	−$13.2M −377.1K shares	Sold Off 0 shares
Marshall Wace LLP Institution	−$4.5M −128.7K shares	Sold Off 0 shares
LORD, ABBETT & CO. LLC Long Only Manager	−$4.2M −154.1K shares	$2.5M 91.4K shares
TUDOR INVESTMENT CORP ET AL Hedge Fund•Multi-Strategy	−$2.7M −78.2K shares	Sold Off 0 shares
BALYASNY ASSET MANAGEMENT LLC Hedge Fund•Multi-Strategy	−$2.7M −76.9K shares	Sold Off 0 shares
MILLENNIUM MANAGEMENT LLC Hedge Fund•Multi-Strategy	−$2.5M −91.3K shares	$625.9K 22.8K shares
Lighthouse Investment Partners, LLC Fund of Funds	−$1.9M −54.0K shares	Sold Off 0 shares
C Capital International Investors Institution	−$1.9M −68.4K shares	$12.3M 447.0K shares
J JANE STREET GROUP, LLC Institution	−$1.2M −34.8K shares	Sold Off 0 shares
RENAISSANCE TECHNOLOGIES LLC Hedge Fund•Quant	−$1.2M −42.7K shares	$996.1K 36.3K shares

Entry and Exit Activity

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

New Positions: 7
New Value: $18.1M
Exited Positions: 24
Exited Value: $32.3M

New Positions

Institution	Position Value
C CENTRAL SECURITIES CORP Institution	$12.3M 450.0K shares
BRASADA CAPITAL MANAGEMENT, LP Real Assets	$4.7M 169.4K shares
Susquehanna Portfolio Strategies, LLC Private Equity	$465.8K 17.0K shares
BLALOCK WILLIAMS, LLC RIA/Wealth	$263.4K 9.6K shares
Bank of New York Mellon Corp Institution	$258.8K 9.4K shares
R Russell Investments Group, Ltd. RIA/Wealth	$141.8K 5.2K shares
Federation des caisses Desjardins du Quebec Fund of Funds	$3.7K 135.0 shares

Exited Positions

Institution	Previous Position
DRIEHAUS CAPITAL MANAGEMENT LLC Hedge Fund•Event Driven	$13.2M 377.1K shares
Marshall Wace LLP Institution	$4.5M 128.7K shares
TUDOR INVESTMENT CORP ET AL Hedge Fund•Multi-Strategy	$2.7M 78.2K shares
BALYASNY ASSET MANAGEMENT LLC Hedge Fund•Multi-Strategy	$2.7M 76.9K shares
Lighthouse Investment Partners, LLC Fund of Funds	$1.9M 54.0K shares
J JANE STREET GROUP, LLC Institution	$1.2M 34.8K shares
CITADEL ADVISORS LLC Hedge Fund•Multi-Strategy	$1.1M 32.0K shares
L LPL Financial LLC Institution	$1.1M 31.8K shares
X XTX Topco Ltd Institution	$521.5K 14.9K shares
PDT Partners, LLC Hedge Fund•Quant	$492.0K 14.1K shares

Options Activity

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

Call Positions: 0
Call Value: -
Put Positions: 0
Put Value: -

Call Positions

Institution	Position Value
No call positions found

Put Positions

Institution	Position Value
No put positions found

Most Committed Institutions

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

Institution	Key People	Portfolio Weight	Ownership	Owned Since	Total AUM (Long)
C CENTRAL SECURITIES CORP Institution	-	1.02% $12.3M	3.00% 450.0K shares	Q3 2025 Held for 2 months	$1.2B
BRASADA CAPITAL MANAGEMENT, LP Real Assets	Mark Edward Mcmeans CEO	0.79% $4.7M	1.13% 169.4K shares	Q3 2025 Held for 2 months	$588.1M
Grandeur Peak Global Advisors, LLC Long Only Manager	Blake Harold Walker CEO	0.39% $2.9M	0.70% 105.3K shares	Q2 2025 Held for 5 months	$745.4M
G Gillson Capital LP Hedge Fund•Long/Short	Daniel Bartlett Johnson Founder	0.35% $4.0M	0.98% 147.5K shares	Q3 2024 Held for 1y 2m	$1.2B
NEXT CENTURY GROWTH INVESTORS LLC Long Only Manager	Thomas Leigh Press CEO	0.29% $3.9M	0.96% 143.3K shares	Q3 2024 Held for 1y 2m	$1.4B
Giverny Capital Inc. RIA/Wealth	Francois Rochon CEO	0.28% $8.2M	2.00% 300.3K shares	Q2 2025 Held for 5 months	$3.0B
RIVERBRIDGE PARTNERS LLC Long Only Manager	Mark Albright Thompson Chairman	0.25% $14.9M	3.62% 542.7K shares	Q2 2025 Held for 5 months	$5.9B
BLALOCK WILLIAMS, LLC RIA/Wealth	John Butler Blalock CEO	0.23% $263.4K	0.06% 9.6K shares	Q3 2025 Held for 2 months	$112.8M
Ghisallo Capital Management LLC Hedge Fund•Multi-Strategy	Michael Walter Germino CEO	0.16% $2.7M	0.67% 100.0K shares	Q3 2024 Held for 1y 2m	$1.7B
S SEVEN GRAND MANAGERS, LLC Hedge Fund•Multi-Strategy	Chris E Fahy CIO	0.11% $1.4M	0.33% 50.0K shares	Q3 2024 Held for 1y 2m	$1.3B

Hedge Fund Spotlight

Discover hedge funds investing in TWFG

ExodusPoint Capital Management, LP

Hedge Fund • Multi-Strategy

Portfolio ManagerMichael Robert Gelband

Portfolio Value: $7.1B
Positions: 1,351
Last Reported: Q3 2025

Sector Allocation

Position in Texas Windstorm Insurance Association

Market Value: $1.1M
Shares Held: 39.7K
Portfolio Weight: 0.02%
Owned Since: 2024-Q3

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