BWIN at a glance
Baldwin Insurance Group, Inc. (BWIN, SEC CIK 1781755) filed its latest 10-K annual report on February 26, 2026, a 10-Q quarterly report on July 30, 2026, an 8-K current report on September 21, 2026 and Form 4 insider filings as recently as October 2, 2026. SignalX summarizes each filing with AI and tracks the company's insider trades and institutional holders.
- For the fiscal year ended December 31, 2025 (FY2025), Baldwin Insurance Group, Inc. (BWIN) reported revenue of $1.5 billion (up 8.5% from FY2024) and a net loss of $33.8 million. Diluted EPS was -$0.50.
- As of June 30, 2026, 27 institutional investment managers tracked by SignalX reported holding Baldwin Insurance Group, Inc. (BWIN) shares worth $1.2 billion in 13F-HR filings.
Source: SEC EDGAR (XBRL financial data, 13F-HR and Form 4 filings).
- Revenue · FY2025
- $1.5B
- +8.5% vs prior year
- Insiders · 90 days
- 0 buys · 0 sells
- No open-market trades
- 13F holders
- 27 funds
- $1.2B · +3 vs prior quarter
- Latest 8-K
- Sep 21, 2026
- Item 5.02
AI 10-K Annual Report Analysis
Latest 10-K, fiscal year ended Dec 31, 2025
Business Overview
- Core business model: Independent insurance distribution with tailored risk management, insurance, and employee benefits solutions delivered via three operating groups
- New products/services: Launched two new middle market MGA commercial lines products in 2025; expanded MSI platform with 20+ proprietary insurance products and embedding renters insurance via API integrations
- Strategic shift: Sold UCTS Wholesale Business in early 2024; launched Texas-domiciled reciprocal insurance exchange and protective cell captive for underwriting participation in 2025
- Quantitative metric: Employee count grew to ~5,000 colleagues as of January 2026, including 900 risk advisors and 125 offices in 24 states
- Noteworthy fact: Completed 37 partnerships since 2020 totaling $909 million in acquired revenue, including nine Top 100 firms, enhancing geographic and product expertise
Risk Factors
- Debt obligations $2.3B including $600M Senior Secured Notes with 7.125% fixed interest maturing May 2031
- Exposure to $250M contingent earnout payment tied to CAC Group Transaction net commission and fee thresholds
- Operating lease commitments $85.9M through August 2035 with annual rent escalations linked to inflation indexes
- Competitive risk from partnerships and acquisitions with earnout provisions impacting up to $50M contingent liabilities
- Full valuation allowance on deferred tax assets due to cumulative losses over 2023-2025 affecting realizability of tax benefits
Management Discussion & Analysis
- No segment performance or comparative financial metrics mentioned
- Risks highlighted: stock price volatility from short selling and analyst coverage changes
- Risks due to potential material weaknesses in internal controls affecting financial reporting accuracy and investor confidence
AI summary of the BWIN 10-K filed . Generated from the filing text; verify against the original.View on SEC EDGARHow to read a 10-K
AI 10-Q Quarterly Report Analysis
Latest 10-Q, quarter ended Jun 30, 2026
Management Discussion & Analysis
- Quarterly revenue $492.9M, up 30% YoY from $378.8M, driven by $106.8M partnership contribution
- Operating margin (1.7%) vs 7.4% YoY; net loss $56.0M vs $5.1M
- Commissions and fees $488.8M, up 30%; organic profit-sharing revenue increased $6.0M
- Six-month partnerships totaled $1.6B; higher borrowings increased quarterly interest expense $14.3M
- Near-term headwind: interest expense expected higher year over year from JPM Credit Facility borrowings
Risk Factors
- Risk-factors section not provided; supplied text covers Items 2–6 only
- No new regulatory, legal, compliance, operational, competitive, market, or financial risk disclosures identifiable
- Share repurchases: $124.5 million remaining under authorized $250 million program as of June 30, 2026
- Quarterly repurchases: 4,002,280 shares at average $20.63 per share
AI summary of the BWIN 10-Q filed . Generated from the filing text; verify against the original.View on SEC EDGAR10-K vs 10-Q vs 8-K
AI 8-K Current Report Analysis
The most recent material events, by 8-K item
Item 5.02: Departure/Appointment of Directors or Principal Officers
- Corbyn Lichon resumed Chief Accounting Officer duties effective September 21, 2026
- Interim CAO Johnathan Daniel returned to Executive Director of Finance
Item 7.01: Regulation FD Disclosure
- Merger transaction remains subject to stockholder approval, regulatory clearances, financing, and other closing conditions
- Completion timing remains uncertain, with termination rights and potential litigation creating deal-breaker risk
Item EX-99.1: Item EX-99.1
- Take-private agreement values Baldwin at approximately $7.7B, including $4.6B equity value and $3.1B net debt
- Shareholders to receive $32.50 cash per share, an approximately 88% premium to the June 17, 2026 unaffected close
Item 1.01: Entry into a Material Definitive Agreement
- Take-private agreement at $32.50 cash per Class A share, subject to closing conditions
- Parent backed by DFO equity and committed debt financing, with no financing condition
Item 2.02: Results of Operations and Financial Condition
- Q2 2026 results for quarter ended June 30, 2026, announced July 30, 2026
- Full financial performance details contained in Exhibit 99.1 press release
Item EX-99.1: Item EX-99.1
- Q2 revenue rose 30% to $492.9M, but organic growth was only 2%, highlighting acquisition and partnership dependence
- Adjusted EBITDA increased 37% to $116.7M, with margin expanding to 23.7% from 22.6%
AI summaries of BWIN 8-K current reports filed with the SEC. What 8-K item codes mean
SignalX for BWIN
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Recent Insider Transactions (Form 4)
Latest reported trades by officers, directors and 10% owners
| Insider | Type | Date | Shares | Price |
|---|---|---|---|---|
| SULLIVAN CHRIS THOMAS | A | Oct 1, 2026 | 824 | - |
| Parasuraman Sunita | A | Oct 1, 2026 | 824 | - |
| Muthukrishnan Sathish | A | Oct 1, 2026 | 824 | - |
| Matas Barbara Ruth | A | Oct 1, 2026 | 824 | - |
| KADOW JOSEPH JOHN | A | Oct 1, 2026 | 824 | - |
| Shook Ellyn | A | Oct 1, 2026 | 824 | - |
| Sparks Paul Eugene | A | Oct 1, 2026 | 824 | - |
| Sparks Paul Eugene | F | Oct 1, 2026 | 244 | $31.77 |
Financial SummaryXBRL
| Metric | FY2023 | FY2024 | FY2025 |
|---|---|---|---|
| Profitability | |||
| Revenue | $1.2B | $1.4B | $1.5B |
| Operating Income | -$42.6M | $60.6M | $73.9M |
| Net Income | -$90.1M | -$24.5M | -$33.8M |
| Op. Margin | -3.5% | 4.4% | 4.9% |
| Net Margin | -7.4% | -1.8% | -2.3% |
| Balance Sheet | |||
| Total Assets | - | $3.5B | $3.9B |
| Equity | $560.4M | $583.2M | $600.2M |
| ROE | -16.1% | -4.2% | -5.6% |
| Per Share | |||
| EPS | $-1.50 | $-0.39 | $-0.50 |
| Cash Flow | |||
| Operating CF | $44.6M | $102.2M | -$29.4M |
Source: XBRL data in Baldwin Insurance Group, Inc. (BWIN)'s 10-K filings on SEC EDGAR, in USD. Compare across companies →
13F Fund Holdings: Quarterly Trend
Latest: Q2 2026Aggregate BWIN share value held by 13F filers tracked by SignalX, by quarter.
Quarterly totals table
| Quarter | Funds | Total value |
|---|---|---|
| Q2 2026 | 27 | $1.16B |
| Q1 2026 | 24 | $944.3M |
| Q4 2025 | 23 | $867.1M |
| Q3 2025 | 24 | $1.03B |
| Q2 2025 | 27 | $1.30B |
| Q1 2025 | 26 | $1.16B |
| Q4 2024 | 22 | $872.1M |
| Q3 2024 | 18 | $338.8M |
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- Citadel Advisors LLC+74.0K
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- Millennium Management+9.7K
Source: 13F-HR filings on SEC EDGAR (aggregated from 191 fund-quarter rows). Reflects only 13F filers tracked by SignalX, not the full institutional ownership universe. How 13F filings work
BWIN filing archive
AI analysis pages for each 10-K, 10-Q and 8-K
10-K annual reports
10-Q quarterly reports
Latest 2026 SEC Filings: 10-K, 10-Q, 8-K & Form 4
| Form | Filing date | Period | Analysis | SEC |
|---|---|---|---|---|
| 4 | Oct 2, 2026 | - | - | - |
| 4 | Oct 2, 2026 | - | - | - |
| 4 | Oct 2, 2026 | - | - | - |
| 4 | Oct 2, 2026 | - | - | - |
| 4 | Oct 2, 2026 | - | - | - |
| 4 | Oct 2, 2026 | - | - | - |
| 4 | Oct 2, 2026 | - | - | - |
| 4 | Oct 2, 2026 | - | - | - |
| 4 | Oct 2, 2026 | - | - | - |
| SC 13G | Sep 25, 2026 | - | - | |
| 8-K | Sep 21, 2026 | - | Analysis | - |
| 8-K | Sep 14, 2026 | - | Analysis | - |
| 10-Q | Jul 30, 2026 | Jun 30, 2026 | Analysis | |
| 8-K | Jul 30, 2026 | - | Analysis | - |
| 4 | Jul 2, 2026 | - | - | - |
| 4 | Jul 2, 2026 | - | - | - |
| 4 | Jul 2, 2026 | - | - | - |
| 4 | Jul 2, 2026 | - | - | - |
| 4 | Jul 2, 2026 | - | - | - |
| 4 | Jul 2, 2026 | - | - | - |
| 4 | Jul 2, 2026 | - | - | - |
| 8-K | Jun 4, 2026 | - | Analysis | |
| 4 | May 15, 2026 | - | - | |
| 4 | May 8, 2026 | - | - | |
| 10-Q | May 4, 2026 | Mar 31, 2026 | Analysis |
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BWIN SEC filings: frequently asked questions
Which institutions hold BWIN stock?
As of June 30, 2026, the largest Baldwin Insurance Group, Inc. (BWIN) holders among the 13F filers tracked by SignalX were FMR LLC (Fidelity) ($392.1 million), BlackRock ($192.8 million), Vanguard Portfolio Management LLC ($86.7 million), Vanguard Capital Management LLC ($84.2 million), BNY Mellon ($81.8 million). 13F-HR reports are filed up to 45 days after each quarter ends.
What was BWIN's revenue in fiscal year 2025?
For the fiscal year ended December 31, 2025 (FY2025), Baldwin Insurance Group, Inc. (BWIN) reported revenue of $1.5 billion (up 8.5% from FY2024) and a net loss of $33.8 million. Diluted EPS was -$0.50. The figures come from the XBRL data in the 10-K.
What are the main risks in BWIN's latest 10-K?
In the 10-K filed February 26, 2026, Baldwin Insurance Group, Inc. (BWIN) flagged: Debt obligations $2.3B including $600M Senior Secured Notes with 7.125% fixed interest maturing May 2031. Exposure to $250M contingent earnout payment tied to CAC Group Transaction net commission and fee thresholds. (AI summary of the Risk Factors section.)
What did BWIN report in its latest 8-K?
Baldwin Insurance Group, Inc. (BWIN) filed an 8-K on September 21, 2026 reporting Item 5.02 (Departure/Appointment of Directors or Principal Officers). Corbyn Lichon resumed Chief Accounting Officer duties effective September 21, 2026.
What are the latest BWIN SEC filings?
Baldwin Insurance Group, Inc. (BWIN) filed its latest 10-K annual report on February 26, 2026, a 10-Q quarterly report on July 30, 2026, an 8-K current report on September 21, 2026 and a Form 4 insider filing on October 2, 2026.
What is BWIN's SEC CIK number?
Baldwin Insurance Group, Inc. (BWIN)'s SEC Central Index Key (CIK) is 1781755. EDGAR lists every BWIN filing under that number.
Ask anything about BWIN
The research agent reads BWIN's filings, financials, insider trades and 13F holders, then answers with sources.