T. Rowe Price (TWFG) reports 2.10M shares, 14.0% stake — Amendment No. 5

Rhea-AI Filing Summary

T. Rowe Price Investment Management, Inc. filed an amendment to its Schedule 13G/A reporting beneficial ownership of 2,099,298 shares of TWFG Inc. common stock, representing 14.0% of the class as reported. The amendment is labeled Amendment No. 5 and bears a signature date of 05/15/2026.

The filing lists sole voting power and sole dispositive power over the same 2,099,298 shares. The filing also includes the issuer CUSIP 87318A101 and identifies the issuer's principal office in The Woodlands, Texas.

Insights

Institutional Ownership Analyst

T. Rowe Price reports a substantial 14.0% stake in TWFG as of the amendment.

The filing shows 2,099,298 shares beneficially owned with sole voting and sole dispositive power, indicating the filer can vote and direct disposition of the held shares. The document is an Amendment No. 5 to a Schedule 13G/A, updating prior disclosures.

Where relevant, subsequent filings may clarify whether this stake is passive under Schedule 13G conditions or subject to active strategies; the amendment itself includes a declaration disclaiming beneficial ownership.

Corporate Governance Specialist

Filing confirms voting and dispositive authority at the institutional level, while denying beneficial ownership.

The form lists identical counts for sole voting and dispositive power (2,099,298 shares) and reports 14.0% of the class. The signature block is dated 05/15/2026, and the reporting entity is T. Rowe Price Investment Management, Inc.

Stake disclosures of this scale can affect governance dynamics; any change in status or intent would appear in future amendments or a Schedule 13D if active intent arises.

Key Figures

Shares beneficially owned: 2,099,298 shares Percent of class: 14.0% CUSIP: 87318A101 +2 more

5 metrics

Shares beneficially owned 2,099,298 shares reported in Schedule 13G/A amendment

Percent of class 14.0% percent of common stock as stated in Item 4

CUSIP 87318A101 issuer CUSIP for TWFG common stock

Amendment Amendment No. 5 Schedule 13G/A amendment label

Signature date 05/15/2026 signature block date on the amendment

Key Terms

Schedule 13G/A, beneficial ownership, sole dispositive power, sole voting power

4 terms

Schedule 13G/A regulatory

"Amendment No. 5 to Schedule 13G/A reporting beneficial ownership"

A Schedule 13G/A is an amended public filing with the U.S. securities regulator that updates a previous Schedule 13G, disclosing when an individual or group holds a substantial (typically over 5%) stake in a company and is claiming a passive, non‑controlling intent. Investors monitor these updates because rising or falling holdings can signal changing confidence, potential future moves, or shifts in voting power — like watching a public ledger where large shareholders quietly adjust their positions.

beneficial ownership financial

"Amount beneficially owned: 2099298 and Percent of class: 14.0 %"

Beneficial ownership means the person or entity that actually enjoys the benefits of owning shares or other assets — such as receiving dividends, voting rights, or price gains — even if the legal title is held in another name. For investors it matters because knowing who truly controls and profits from a company reveals who can influence decisions, exposes potential conflicts of interest or hidden concentration of power, and affects transparency and risk in the stock.

sole dispositive power financial

"Sole power to dispose or to direct the disposition of: 2099298"

Sole dispositive power is the exclusive legal authority to decide what happens to a security — for example, whether to sell, transfer, or retain shares — without needing anyone else’s permission. Investors care because it signals who truly controls the economic outcome of an investment: like holding the only key to a safe, the holder can realize gains or losses and may trigger regulatory reporting, insider rules, or influence over corporate ownership.

sole voting power financial

"Sole power to vote or to direct the vote: 2099298"

Sole voting power is the exclusive right to cast votes attached to a shareholder’s stock without needing approval from anyone else. Like holding the only remote control for a TV, it lets that holder decide corporate matters such as board members, mergers, and policy changes, making it important to investors because it concentrates control and can strongly influence a company’s strategy and the value of its shares.

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SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13G

UNDER THE SECURITIES EXCHANGE ACT OF 1934

(Amendment No. 5)

TWFG INC

(Name of Issuer)

COMMON STOCK

(Title of Class of Securities)

87318A101

(CUSIP Number)

03/31/2026

(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)

schemaVersion:

SCHEDULE 13G

CUSIP Number(s): 87318A101

1

Names of Reporting Persons

T. Rowe Price Investment Management, Inc.

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

MARYLAND

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 2,099,298.00
6	Shared Voting Power 0.00
7	Sole Dispositive Power 2,099,298.00
8	Shared Dispositive Power 0.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

2,099,298.00

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)

14.0 %

12

Type of Reporting Person (See Instructions)

IA

SCHEDULE 13G

Item 1.
(a)	Name of issuer: TWFG INC
(b)	Address of issuer's principal executive offices: 1201 LAKE WOODLANDS DRIVE, SUITE 4020, THE WOODLANDS, TX, 77380
Item 2.
(a)	Name of person filing: T. Rowe Price Investment Management, Inc.
(b)	Address or principal business office or, if none, residence: 1307 Point Street, Baltimore, MD 21231
(c)	Citizenship: Maryland
(d)	Title of class of securities: COMMON STOCK
(e)	CUSIP No.: 87318A101
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: 2099298
(b)	Percent of class: 14.0 %
(c)	Number of shares as to which the person has:
	(i) Sole power to vote or to direct the vote: 2099298
	(ii) Shared power to vote or to direct the vote: 0
	(iii) Sole power to dispose or to direct the disposition of: 2099298
	(iv) Shared power to dispose or to direct the disposition of: 0
Item 5.	Ownership of 5 Percent or Less of a Class.
	Not Applicable
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. T. Rowe Price Investment Management, Inc. hereby declares and affirms that the filing of Schedule 13G shall not be construed as an admission that Price Investment Management is the beneficial owner of the securities referred to, which beneficial ownership is expressly denied.

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.

T. Rowe Price Investment Management, Inc.

Signature:	Ellen York
Name/Title:	Vice President
Date:	05/15/2026

FAQ

What does T. Rowe Price report owning in TWFG (symbol TWFG)?

T. Rowe Price reports beneficial ownership of 2,099,298 shares, representing 14.0% of TWFG's common stock. The filing lists identical sole voting and dispositive power over those shares and is submitted as Amendment No. 5 to a Schedule 13G/A.

Does the filing show T. Rowe Price can vote the reported TWFG shares?

Yes — the amendment states sole voting power over 2,099,298 shares. The filing also shows sole dispositive power for the same share count, indicating authority to direct votes and dispositions.

When was the Schedule 13G/A amendment signed for TWFG?

The signature block on the amendment is dated 05/15/2026. The cover references 03/31/2026 in the filing header, while the amendment itself carries the later signature date.

Does the filing assert T. Rowe Price is the beneficial owner of the shares?

The filing includes a statement in which T. Rowe Price expressly denies beneficial ownership of the securities, even while reporting voting and dispositive powers for 2,099,298 shares.