TWFG, Inc. (TWFG): Bunch family reports 74% beneficial stake in Class A

Rhea-AI Filing Summary

TWFG, Inc. received an amended Schedule 13G indicating concentrated insider ownership of its Class A common stock. As of June 30, 2026, Bunch Family Holdings, LLC beneficially owns 33,706,604 Class A-equivalent shares, representing 73.0% of the Class A stock when including exchangeable Class C shares. Richard F. Bunch III, through direct holdings, family trusts, and Bunch Family Holdings, may be deemed to beneficially own 34,276,133 Class A-equivalent shares, or 73.8% of the class. Michelle Caroline Bunch may be deemed to beneficially own 288,451 Class A-equivalent shares, or 2.2%. If treated as a group, the reporting persons may be deemed to own 34,552,884 Class A-equivalent shares, or 74.0%, indicating effective control by the Bunch family.

Key Figures

Shares outstanding: 12,797,112 shares Bunch Family Holdings stake: 33,706,604 shares; 73.0% Richard F. Bunch III stake: 34,276,133 shares; 73.8% +5 more

8 metrics

Shares outstanding 12,797,112 shares Class A common stock outstanding as of June 30, 2026

Bunch Family Holdings stake 33,706,604 shares; 73.0% Class A-equivalent shares beneficially owned, including exchangeable Class C

Richard F. Bunch III stake 34,276,133 shares; 73.8% Class A-equivalent shares he may be deemed to beneficially own

Michelle C. Bunch stake 288,451 shares; 2.2% Class A-equivalent shares she may be deemed to beneficially own

Group ownership 34,552,884 shares; 74.0% Class A-equivalent shares if reporting persons are deemed a group

Bunch Family Class C shares 33,364,242 shares Class C common stock exchangeable 1-for-1 into Class A

RFB Spousal Lifetime Trust Class C 264,784 shares Exchangeable for Class A at the election of RFB Spousal Lifetime Trust

MCB Spousal Lifetime Trust Class C 264,784 shares Exchangeable for Class A at the election of MCB Spousal Lifetime Trust

Key Terms

beneficial owner, sole voting power, shared voting power, Spousal Lifetime Trust, +1 more

5 terms

beneficial owner financial

"Bunch Family Holdings, LLC is the sole beneficial owner of the 33,706,604 shares"

A beneficial owner is the person who ultimately owns or controls a financial asset or property, even if their name isn't directly on official documents. Think of it like someone who secretly holds the keys to a safe deposit box—others may appear to have access, but the true owner is the one who benefits from what's inside. Identifying beneficial owners helps ensure transparency and prevent illegal activities like money laundering or fraud.

sole voting power financial

"Bunch Family Holdings, LLC had sole power to vote or direct the vote of 33,706,604 shares"

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.

shared voting power financial

"Richard F. Bunch III had shared power to vote or direct the vote of 11,700 shares"

Shared voting power occurs when two or more parties jointly have the right to vote or decide how a block of company shares is cast, like co-owners who must agree before moving a piece of furniture. Investors care because who controls voting rights affects board elections, major corporate decisions and takeover outcomes, and shared control can alter regulatory disclosures and the practical influence any holder has over a company’s direction and value.

Spousal Lifetime Trust financial

"RFB Spousal Lifetime Trust U/T/A 8/25/2025 ... MCB Spousal Lifetime Trust U/T/A 6/19/2025"

exchangeable financial

"Class C Common Stock, which is exchangeable for Class A Common Stock on a one-for-one basis"

FAQ

How much of TWFG (TWFG) does Bunch Family Holdings, LLC own?

Bunch Family Holdings, LLC beneficially owns 33,706,604 Class A-equivalent shares of TWFG, representing 73.0% of the Class A common stock as of June 30, 2026, including exchangeable Class C shares.

What is Richard F. Bunch III’s beneficial ownership in TWFG (TWFG)?

Richard F. Bunch III may be deemed to beneficially own 34,276,133 Class A-equivalent shares of TWFG, or 73.8% of the Class A common stock, through direct holdings, trusts, and Bunch Family Holdings, LLC.

What stake does Michelle Caroline Bunch hold in TWFG (TWFG)?

Michelle Caroline Bunch may be deemed to beneficially own 288,451 Class A-equivalent shares of TWFG, representing 2.2% of the Class A common stock, including shares via a spousal lifetime trust and indirect family holdings.

What is the combined ownership of the reporting persons in TWFG (TWFG)?

If considered a group, the reporting persons may be deemed to beneficially own 34,552,884 Class A-equivalent shares of TWFG, equal to 74.0% of the Class A common stock as of June 30, 2026.

How many TWFG (TWFG) shares are outstanding for the ownership calculation?

The ownership percentages are based on 12,797,112 shares of TWFG Class A common stock outstanding as of June 30, 2026, plus shares that the reporting persons may acquire within 60 days.

What are the voting powers of the Bunch family in TWFG (TWFG)?

As of June 30, 2026, Bunch Family Holdings, LLC has sole voting power over 33,706,604 Class A-equivalent shares; Richard F. Bunch III has sole voting power over 34,264,433 shares and shared power over 11,700 shares.

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Available on EDGAR 08/14/2026 - 05:42 PM Accepted by SEC EDGAR 08/14/2026 - 05:42 PM Learn about SEC filing dates

SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13G

UNDER THE SECURITIES EXCHANGE ACT OF 1934

(Amendment No. 1)

TWFG, Inc.

(Name of Issuer)

Class A Common Stock, par value $0.01 par value per share

(Title of Class of Securities)

87318A101

(CUSIP Number)

06/30/2026

(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

Richard F. Bunch III

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

UNITED STATES

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 34,264,433.00
6	Shared Voting Power 11,700.00
7	Sole Dispositive Power 34,264,433.00
8	Shared Dispositive Power 11,700.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

34,276,133.00

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)

0.7 %

12

Type of Reporting Person (See Instructions)

IN

SCHEDULE 13G

CUSIP Number(s): 87318A101

1

Names of Reporting Persons

Michelle Caroline Bunch

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

UNITED STATES

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 276,751.00
6	Shared Voting Power 11,700.00
7	Sole Dispositive Power 276,751.00
8	Shared Dispositive Power 11,700.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

288,451.00

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)

0.0 %

12

Type of Reporting Person (See Instructions)

IN

SCHEDULE 13G

CUSIP Number(s): 87318A101

1

Names of Reporting Persons

Bunch Family Holdings, LLC

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

UNITED STATES

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 33,706,604.00
6	Shared Voting Power 0.00
7	Sole Dispositive Power 33,706,604.00
8	Shared Dispositive Power 0.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

33,706,604.00

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)

0.7 %

12

Type of Reporting Person (See Instructions)

CO

SCHEDULE 13G

Item 1.
(a)	Name of issuer: TWFG, Inc.
(b)	Address of issuer's principal executive offices: 10055 Grogans Mill Road, Suite 500, The Woodlands, Texas, 77380
Item 2.
(a)	Name of person filing: This statement is filed by: Richard F. Bunch III Michelle Caroline Bunch Bunch Family Holdings, LLC The foregoing persons are hereinafter sometimes collectively referred to as the "Reporting Persons."
(b)	Address or principal business office or, if none, residence: The address of the principal business office of each of the Reporting Persons is c/o TWFG, Inc., 10055 Grogans Mill Road, Suite 500, The Woodlands, TX 77380.
(c)	Citizenship: Richard F. Bunch is a citizen of the United States. Michelle Caroline Bunch is a citizen of the United States. Bunch Family Holdings, LLC is a Texas limited liability company.
(d)	Title of class of securities: Class A Common Stock, par value $0.01 par value per share
(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: The information required by Items 4(a) - (c) is set forth in Rows 5 - 11 of the cover page for each of the Reporting Persons and is incorporated herein by reference. As of June 30, 2026: Bunch Family Holdings, LLC directly holds 342,362 shares of Class A Common Stock and 33,364,242 shares of Class C Common Stock, which is exchangeable for Class A Common Stock on a one-for-one basis at the election of Bunch Family Holdings, LLC. Bunch Family Holdings, LLC is the sole beneficial owner of the 33,706,604 shares of Class A Common Stock. Richard F. Bunch III directly holds 293,045 shares of Class A Common Stock and may be deemed to indirectly beneficially own 11,700 shares of Class A Common Stock held by his sons, the beneficial ownership of which have been expressly disclaimed. As the trustee of RFB Spousal Lifetime Trust U/T/A 8/25/2025, Mr. Bunch may be deemed to be the sole beneficial owner of the 264,784 shares of Class C Common Stock which is exchangeable for Class A Common Stock on a one-for-one basis at the election of RFB Spousal Lifetime Trust U/T/A 8/25/2025. As the managing member of Bunch Family Holdings, LLC, Mr. Bunch may be deemed the sole beneficial owner of the shares that it beneficially owns. Collectively, Mr. Bunch may be deemed to have sole beneficial ownership of 34,264,433 shares of Class A Common Stock and to have shared beneficial ownership of 11,700 shares of Class A Common Stock, for a total of 34,276,133 shares of Class A Common Stock. Michelle Caroline Bunch directly holds 11,967 shares of Class A Common Stock and may be deemed to indirectly beneficially own 11,700 shares of Class A Common Stock held by her sons, the beneficial ownership of which have been expressly disclaimed. As the trustee of MCB Spousal Lifetime Trust U/T/A 6/19/2025, Ms. Bunch may be deemed to be the sole beneficial owner of the 264,784 shares of Class C Common Stock which is exchangeable for Class A Common Stock on a one-for-one basis at the election of MCB Spousal Lifetime Trust U/T/A 6/19/2025. Collectively, Ms. Bunch may be deemed to have sole beneficial ownership of 276,751 shares of Class A Common Stock and to have shared beneficial ownership of 11,700 shares of Class A Common Stock, for a total of 288,451 shares of Class A Common Stock. If the Reporting Persons were deemed to be a "group," such group would be deemed to beneficially own 34,552,884 shares of Class A Common Stock.
(b)	Percent of class: As of June 30, 2026: Based on 12,797,112 shares of Class A Common Stock of the Issuer outstanding as of June 30, 2026, as reported in the Issuer's Form 10-Q filed with the Securities and Exchange Commission on August 6, 2026, plus shares that may be acquired by the Reporting Persons within 60 days, Bunch Family Holdings, LLC is the beneficial owner of 73.0% of the Class A Common Stock; Mr. Bunch may be deemed to beneficially own 73.8% of the Class A Common Stock; Ms. Bunch may be deemed to beneficially own 2.2% of the Class A Common Stock; and The group that may be deemed to be formed by the Reporting Persons may be deemed to beneficially own 74.0% of the Class A Common Stock.
(c)	Number of shares as to which the person has:
	(i) Sole power to vote or to direct the vote: As of June 30, 2026: Bunch Family Holdings, LLC had sole power to vote or direct the vote of 33,706,604 shares of Class A Common Stock; Richard F. Bunch III had sole power to vote or direct the vote of 34,264,433 shares of Class A Common Stock; Michelle Caroline Bunch had sole power to vote or direct the vote of 276,751 shares of Class A Common Stock;
	(ii) Shared power to vote or to direct the vote: As of June 30, 2026: Bunch Family Holdings, LLC had shared power to vote or direct the vote of 0 shares of Class A Common Stock; Richard F. Bunch III had shared power to vote or direct the vote of 11,700 shares of Class A Common Stock; Michelle Caroline Bunch had shared power to vote or direct the vote of 11,700 shares of Class A Common Stock;
	(iii) Sole power to dispose or to direct the disposition of: As of June 30, 2026: Bunch Family Holdings, LLC had sole power to dispose or to direct the disposition of 33,706,604 shares of Class A Common Stock; Richard F. Bunch III had sole power to dispose or to direct the disposition of 34,264,433 shares of Class A Common Stock; Michelle Caroline Bunch had sole power to dispose or to direct the disposition of 276,751 shares of Class A Common Stock;
	(iv) Shared power to dispose or to direct the disposition of: As of June 30, 2026: Bunch Family Holdings, LLC had shared power to dispose or to direct the disposition of 0 shares of Class A Common Stock; Richard F. Bunch III had shared power to dispose or to direct the disposition of 11,700 shares of Class A Common Stock; Michelle Caroline Bunch had shared power to dispose or to direct the disposition of 11,700 shares of Class A Common Stock;
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.
	If any other person is known to have the right to receive or the power to direct the receipt of dividends from, or the proceeds from the sale of, such securities, a statement to that effect should be included in response to this item and, if such interest relates to more than 5 percent of the class, such person should be identified. A listing of the shareholders of an investment company registered under the Investment Company Act of 1940 or the beneficiaries of employee benefit plan, pension fund or endowment fund is not required. The securities beneficially owned by Bunch Family Holdings, LLC are beneficially owned by Richard F. Bunch III.
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:

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.

Richard F. Bunch III

Signature:	/s/ Richard F. Bunch III
Name/Title:	Richard F. Bunch III / Self
Date:	08/14/2026

Michelle Caroline Bunch

Signature:	/s/ Michelle Caroline Bunch
Name/Title:	Michelle Caroline Bunch / Self
Date:	08/14/2026

Bunch Family Holdings, LLC

Signature:	/s/ Richard F. Bunch III
Name/Title:	Richard F. Bunch III / Managing Member
Date:	08/14/2026