The Baldwin Insurance Group, Inc.
US ˙ NasdaqGS ˙ US05589G1022

SecurityBWIN / The Baldwin Insurance Group, Inc.
InstitutionMacquarie Group Ltd
Latest Disclosed Ownership2,576,613 shares
Ownership 3.86%
Macquarie Group Ltd ownership in BWIN / The Baldwin Insurance Group, Inc.

2024-11-01 - Macquarie Group Ltd has filed an SC 13G/A form with the Securities and Exchange Commission (SEC) disclosing ownership of 2,576,613 shares of The Baldwin Insurance Group, Inc. (US:BWIN). This represents 3.86 percent ownership of the company. In their previous filing dated 2024-02-14 , Macquarie Group Ltd had reported owning 3,542,273 shares, indicating a decrease of -27.26 percent.

Institutional Ownership: 13D/G Filings

This table shows a history of the 13D/G filings made by the investor and/or investor group. Note that the share values in this table are not directly comparable to any numbers shown in the 13F table (if any).

File
Date		Effective
Date		Form Prev
Shares		 Latest
Shares		 ΔShares
(Percent)		 Ownership
(Percent)		 ΔOwnership
(Percent)
2024-11-01 2024-11-01 13G/A 3,542,273 2,576,613 -27.26 3.86 -29.82
2024-02-14 2024-02-14 13G 3,542,273 5.50

Important Note: One of the primary uses of the 13D/G filings is to evaluate the ability of a firm to control a company (ie, the "beneficial ownership"). To that end, firms are required to report not just direct holdings in companies, but indirect holdings that they control. For investment firms, these indirect holdings can include shares in funds they manage, advisory accounts, and in the case of activist campaigns, pledged votes. Therefore, share counts listed in 13D/G filings can differ significantly than share counts listed in 13F filings.

Institutional Ownership: 13F and NPORT Filings

The Security and Class in the table below are shown exactly as filed by the investor. We do our best to track continuity of investments through acquisitions, and this will be reflected in the table as changes in names. In addition to descriptive data, performance of the investment is shown over time. To calculate quarterly performance, we first calculate cost basis of the shares purchased during the quarter, then use that to calculate gross profit. Quarterly return is Gross Profit / Starting Portfolio value.

Note that cost basis is calculated and stored in thousands, so small quarterly changes in shares frequently result in a cost basis of zero.

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Disclosed Equity Positions (from 13F/NPORT Filings)
File
Date		 Effective
Date		Form Security Class ID Avg Price
Paid (Est)		 Reported
Shares		 ΔShares ΔShares
(%)		 Reported
Value
(x1000)		 ΔValue
(%)		 Alloc
(%)		 ΔAlloc ΔAlloc (%) Cost Basis
(x1000)		 Unrealized
Gain/Loss
(x1000)
2026-02-13 2025-12-31 13F THE BALDWIN INSURANCE GRP IN COM CL A 05589G102 0 -100.00 0
2025-11-13 2025-09-30 13F THE BALDWIN INSURANCE GRP IN COM CL A 05589G102 2,162,471 -369,930 -14.61 61,003 -43.73 0.0311
2025-08-14 2025-06-30 13F THE BALDWIN INSURANCE GRP IN COM CL A 05589G102 2,532,401 30,168 1.21 108,412 -3.05 0.1330
2025-08-14 2025-03-31 13F/A-1 THE BALDWIN INSURANCE GRP IN COM CL A 05589G102 2,502,233 56,358 2.30 111,825 17.96 0.1388
2025-05-15 2025-03-31 13F THE BALDWIN INSURANCE GRP IN COM CL A 05589G102 2,502,233 56,358 111,825 0.1461
2025-02-14 2024-12-31 13F THE BALDWIN INSURANCE GRP IN COM CL A 05589G102 2,445,875 -130,738 -5.07 94,802 -26.12 0.1150
2024-11-14 2024-09-30 13F THE BALDWIN INSURANCE GRP IN COM CL A 05589G102 2,576,613 -868,652 -25.21 128,315 5.00 0.1385
2024-08-09 2024-06-30 13F THE BALDWIN INSURANCE GRP IN COM CL A 05589G102 3,445,265 -1,419 -0.04 122,204 22.51 0.1402
2024-05-14 2024-03-31 13F BRP GROUP COM CL A 05589G102 3,446,684 -96,176 -2.71 99,747 17.21 0.1131
2024-02-14 2023-12-31 13F BRP GROUP COM CL A 05589G102 3,542,860 1,064,363 42.94 85,099 47.81 0.0983
2023-11-14 2023-09-30 13F BRP GROUP COM CL A 05589G102 2,478,497 614,659 32.98 57,575 24.66 0.0723
2023-10-27 2023-06-30 13F/A-2 BRP GROUP COM CL A 05589G102 1,863,838 1,755,863 1,626.18 46,186 1,580.10 0.0528
2023-10-12 2023-06-30 13F/A-1 BRP GROUP COM CL A 05589G102 1,863,838 1,755,863 46,186 0.0464
2023-08-14 2023-06-30 13F BRP GROUP COM CL A 05589G102 1,863,838 1,755,863 46,186 0.0469
2023-06-01 2023-03-31 13F/A-1 BRP GROUP COM CL A 05589G102 107,975 -2,327 -2.11 2,749 -0.87 0.0033
2023-05-15 2023-03-31 13F BRP GROUP COM CL A 05589G102 107,975 -2,327 2,749 0.0025
2023-02-21 2022-12-31 13F BRP GROUP COM CL A 05589G102 110,302 -92,495 -45.61 2,773 -48.29 0.0033
2022-11-14 2022-09-30 13F BRP GROUP COM CL A 05589G102 202,797 56,745 38.85 5,363 52.06 0.0066
2022-08-17 2022-06-30 13F/A-1 BRP GROUP COM CL A 05589G102 146,052 -63,002 -30.14 3,527 -37.12 0.0040
2022-08-15 2022-06-30 13F BRP GROUP COM CL A 05589G102 146,052 -63,002 3,527 0.0013
2022-05-16 2022-03-31 13F BRP GROUP COM CL A 05589G102 209,054 29,370 16.35 5,609 -13.55 0.0043
2022-02-11 2021-12-31 13F BRP Group COM CL A 05589G102 179,684 65,727 57.68 6,488 71.01 0.0054
2021-11-12 2021-09-30 13F BRP GROUP COM CL A 05589G102 113,957 4,994 4.58 3,794 30.65 0.0032
2021-08-13 2021-06-30 13F BRP GROUP COM CL A 05589G102 108,963 9,353 9.39 2,904 7.00 0.0024
2021-05-14 2021-03-31 13F BRP GROUP COM CL A 05589G102 99,610 33,168 49.92 2,714 36.31 0.0038
2021-02-16 2020-12-31 13F BRP GROUP COM CL A 05589G102 66,442 -3,428 -4.91 1,991 14.43 0.0029
2020-11-13 2020-09-30 13F BRP GROUP COM CL A 05589G102 69,870 -20,583 -22.76 1,740 11.40 0.0029
2020-08-11 2020-06-30 13F BRP GROUP COM CL A 05589G102 90,453 32,910 57.19 1,562 157.33 0.0027
2020-05-15 2020-03-31 13F BRP GROUP COM CL A 05589G102 57,543 3,345 6.17 607 -30.23 0.0012
2020-03-18 2019-12-31 13F/A-2 BRP GROUP COM CL A 05589G102 54,198 54,198 870 0.0012
2020-02-28 2019-12-31 13F/A-1 BRP GROUP COM CL A 05589G102 54,198 0 870 0.0013
2020-02-14 2019-12-31 13F BRP GROUP COM CL A 05589G102 54,198 870 0.0012
Legend
Shares
The total number of shares held by the institution at the end of the reporting period (the effective date). This is provided in the filing.
Value
The total value of the shares as of the effective date. This is provided in the filing.
Avg. Share Price
The weighted average share price of the shares held by the institution. We use FIFO accounting to determine this price
Class
This is the security class as indicated by the filer. There are a variety of values for this field. Common values include "EC" = equity common, "EP" - equity preferred
Allocation (%)
The percent of the institution's portfolio that this position represents. This is provided in NPORT filings. For 13F filings, we calculate it.
Change in Allocation
The change in allocation from the prior reporting period. This is calculated as current allocation - prior allocation.
Change in Allocation (%)
The percent change in allocation from the prior reporting period. This is calculated as (current allocation - prior allocation) / prior allocation.
Cost Basis
The total cost of the shares held. This is calculated as reported shares * avg. share price
Unrealized Gain/Loss
This is the market value of the position as of the effective date minus the cost basis.