Capital Research Global Investors discloses 4.2% stake in BWIN (BWIN) via Schedule 13G/A

Rhea-AI Filing Summary

Capital Research Global Investors filed an amended Schedule 13G reporting its beneficial ownership of The Baldwin Insurance Group, Inc. common stock. It reports beneficial ownership of 3,017,071 shares, representing 4.2% of the 71,589,503 shares believed to be outstanding as of the event date.

Capital Research Global Investors has sole voting and sole dispositive power over these 3,017,071 shares, with no shared voting or dispositive power. The filer certifies the shares were acquired and are held in the ordinary course of business and not for the purpose of changing or influencing control of the company.

SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13G

UNDER THE SECURITIES EXCHANGE ACT OF 1934

(Amendment No. 1)

The Baldwin Insurance Group, Inc.

(Name of Issuer)

Common Stock

(Title of Class of Securities)

05589G102

(CUSIP Number)

12/31/2025

(Date of Event Which Requires Filing of this Statement)

Check the appropriate box to designate the rule pursuant to which this Schedule is filed:

Rule 13d-1(b)

Rule 13d-1(c)

Rule 13d-1(d)

SCHEDULE 13G

CUSIP No. 05589G102

1

Names of Reporting Persons

Capital Research Global Investors

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

DELAWARE

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 3,017,071.00
6	Shared Voting Power 0.00
7	Sole Dispositive Power 3,017,071.00
8	Shared Dispositive Power 0.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

3,017,071.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

4.2 %

12

Type of Reporting Person (See Instructions)

IA

SCHEDULE 13G

Item 1.
(a)	Name of issuer: The Baldwin Insurance Group, Inc.
(b)	Address of issuer's principal executive offices: 4211 W. BOY SCOUT BLVD., SUITE 800, TAMPA, FL 33607
Item 2.
(a)	Name of person filing: Capital Research Global Investors
(b)	Address or principal business office or, if none, residence: 333 South Hope Street, 55th Fl, Los Angeles, CA 90071
(c)	Citizenship: N/A
(d)	Title of class of securities: Common Stock
(e)	CUSIP No.: 05589G102
Item 3.	If this statement is filed pursuant to §§ 240.13d-1(b) or 240.13d-2(b) or (c), check whether the person filing is a:
(a)	Broker or dealer registered under section 15 of the Act (15 U.S.C. 78o);
(b)	Bank as defined in section 3(a)(6) of the Act (15 U.S.C. 78c);
(c)	Insurance company as defined in section 3(a)(19) of the Act (15 U.S.C. 78c);
(d)	Investment company registered under section 8 of the Investment Company Act of 1940 (15 U.S.C. 80a-8);
(e)	An investment adviser in accordance with § 240.13d-1(b)(1)(ii)(E);
(f)	An employee benefit plan or endowment fund in accordance with § 240.13d-1(b)(1)(ii)(F);
(g)	A parent holding company or control person in accordance with § 240.13d-1(b)(1)(ii)(G);
(h)	A savings associations as defined in Section 3(b) of the Federal Deposit Insurance Act (12 U.S.C. 1813);
(i)	A church plan that is excluded from the definition of an investment company under section 3(c)(14) of the Investment Company Act of 1940 (15 U.S.C. 80a-3);
(j)	A non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J). If filing as a non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J), please specify the type of institution:
(k)	Group, in accordance with Rule 240.13d-1(b)(1)(ii)(K).
Item 4.	Ownership
(a)	Amount beneficially owned: 3,017,071 ** **Capital Research Global Investors ("CRGI") is a division of Capital Research and Management Company ("CRMC"), as well as its investment management subsidiaries and affiliates Capital Bank and Trust Company, Capital International, Inc., Capital International Limited, Capital International Sarl, Capital International K.K., Capital Group Private Client Services, Inc., and Capital Group Investment Management Private Limited (together with CRMC, the "investment management entities"). CRGI's divisions of each of the investment management entities collectively provide investment management services under the name "Capital Research Global Investors." CRGI is deemed to be the beneficial owner of 3,017,071 shares or 4.2% of the 71,589,503 shares believed to be outstanding.
(b)	Percent of class: 4.2 %
(c)	Number of shares as to which the person has:
	(i) Sole power to vote or to direct the vote: 3,017,071
	(ii) Shared power to vote or to direct the vote: 0
	(iii) Sole power to dispose or to direct the disposition of: 3,017,071
	(iv) Shared power to dispose or to direct the disposition of: 0
Item 5.	Ownership of 5 Percent or Less of a Class.
	Ownership of 5 percent or less of a class
Item 6.	Ownership of more than 5 Percent on Behalf of Another Person.
	Not Applicable
Item 7.	Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on by the Parent Holding Company or Control Person.
	Not Applicable
Item 8.	Identification and Classification of Members of the Group.
	Not Applicable
Item 9.	Notice of Dissolution of Group.
	Not Applicable

Item 10.

Certifications:

By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were acquired and are held in the ordinary course of business and were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under ?? 240.14a-11.

SIGNATURE

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

Capital Research Global Investors

Signature:	Jae Won Chung
Name/Title:	Vice President and Senior Counsel II, Capital Research and Management Company
Date:	02/05/2026

FAQ

What stake does Capital Research Global Investors report in BWIN's common stock?

Capital Research Global Investors reports beneficial ownership of 3,017,071 shares of The Baldwin Insurance Group, Inc. common stock, representing 4.2% of 71,589,503 shares believed outstanding. This ownership is reported as of the event date specified in the Schedule 13G/A filing.

Does Capital Research Global Investors control voting for the BWIN shares it holds?

Yes. The filing states Capital Research Global Investors has sole voting power over 3,017,071 shares and no shared voting power. It also has sole dispositive power over the same number of shares, indicating exclusive authority to vote and dispose of these securities.

Is Capital Research Global Investors part of a group in this BWIN Schedule 13G/A?

No group relationship is reported. The Schedule 13G/A identifies Capital Research Global Investors as the sole reporting person, with “Not Applicable” indicated for group identification and dissolution items, suggesting the position is not being reported as part of a coordinated group.

What percentage of The Baldwin Insurance Group, Inc. does 3,017,071 shares represent?

The filing states that 3,017,071 shares represent 4.2% of the 71,589,503 shares of The Baldwin Insurance Group, Inc. common stock believed to be outstanding. This percentage is used to determine the reporting threshold under beneficial ownership rules.

Is Capital Research Global Investors seeking to influence control of BWIN with this holding?

The filer certifies the securities were acquired and are held in the ordinary course of business and not for the purpose of changing or influencing control of The Baldwin Insurance Group, Inc., consistent with the passive investment intent typical of a Schedule 13G filing.

Who signed the Schedule 13G/A for Capital Research Global Investors regarding BWIN?

The Schedule 13G/A is signed by Jae Won Chung, identified as Vice President and Senior Counsel II of Capital Research and Management Company. The signature section also includes a certification that the information in the statement is true, complete and correct.