Baldwin Insurance Group, Inc. (BWIN) provided audited 2025 and 2024 financial statements for Cobbs Allen Capital Holdings, whose business Baldwin acquired on January 1, 2026, along with updated unaudited pro forma combined financial information for 2025, including a combined balance sheet as of December 31, 2025.
Cobbs Allen reported 2025 revenue of $299.2 million, compared with $282.0 million in 2024. Commissions contributed $221.5 million and fees $59.2 million. Its net loss was $478.6 million, versus $108.7 million a year earlier. Expense related to vested Membership Units was $422.1 million in 2025, compared with $134.6 million in 2024.
Cobbs Allen used $46.2 million of cash in operating activities, compared with $35.9 million in 2024. It reported $88.8 million of fiduciary cash as of December 31, 2025; the notes state those funds are segregated and unavailable for general obligations.
Baldwin Insurance Group, Inc. (BWIN) Class A common stock ownership was reported by FMR LLC and Abigail P. Johnson. Each reported beneficial ownership of 2,866,144 shares, or 3.0%, as of September 30, 2026.
FMR LLC reported sole voting power over 2,865,853 shares and sole dispositive power over 2,866,144 shares. Abigail P. Johnson reported zero sole and shared voting power, and sole dispositive power over 2,866,144 shares.
Baldwin Insurance Group, Inc. director Myron K. Williams acquired 824 shares of Class A Common Stock as a grant or award on October 1, 2026. The shares were held directly, and his reported directly held position after the transaction was 15,269 shares.
Baldwin Insurance Group, Inc. director Joseph John Kadow received a grant of 824 shares of Class A Common Stock on October 1, 2026, reported at $0.0000 per share. His direct holdings after the grant were 20,424 shares; the report also lists 5,000 shares held indirectly by Joseph J. Kadow Revocable Trust of 2008.
Baldwin Insurance Group, Inc. director Sunita Parasuraman acquired 824 shares of Class A Common Stock through a grant on October 1, 2026. The shares were held directly, and her reported direct holdings after the transaction were 15,269 shares. This was a compensation-related award acquisition rather than a market transaction.
Baldwin Insurance Group, Inc. director Paul Eugene Sparks received an award of 824 Class A common shares on October 1, 2026. The issuer withheld 244 shares to satisfy income tax withholding obligations connected with the restricted-stock grant. Reported indirect holdings on that date included 996,706 shares by Sparks 5280VC, LLC, 96,787 shares by the Paul Sparks Inheritor's Trust, for which Sparks acts as trustee, and 18,042 shares in his individual retirement account.
Baldwin Insurance Group, Inc. director Jay A. Cohen received a grant of 824 shares of Class A Common Stock on October 1, 2026. The reported price was $0.00 per share, and his directly held position after the award was 19,447 shares. The transaction is reported as a grant or award acquisition, not a purchase.
Baldwin Insurance Group, Inc. director Sathish Muthukrishnan acquired 824 shares of Class A Common Stock through a grant/award on October 1, 2026. The reported transaction price was $0.0000 per share. His reported direct holdings after the award were 11,078 shares. This was a grant/award acquisition, not a market purchase.
Baldwin Insurance Group, Inc. director Ellyn Shook acquired 824 shares of Class A Common Stock through a grant or award on October 1, 2026. The reported transaction price was $0.0000 per share, and her reported direct holdings after the transaction were 15,269 shares.
Baldwin Insurance Group, Inc. director Chris Thomas Sullivan acquired 824 shares of Class A Common Stock in a grant or award on October 1, 2026. The reported transaction price was $0.00 per share, and Sullivan's reported direct holdings following the transaction were 86,506 shares.