Progressive

PGR • NYSE

Progressive is a insurance - property & casualty company in the financial services sector on NYSE, led by Susan Patricia (Tricia) Griffith, with a market cap of $133.14B. As of Q3 2025, 84% of shares are held by 1,751 institutional investors, with VANGUARD GROUP INC as the largest holder at 9.32%.

President and CEOSusan Patricia (Tricia) Griffith

Market Cap$133.14B

Insurance - Property & Casualty

Financial Services

Employees61.4K

Websiteprogressive.com

Country

United States of America

Overview

Overview of institutional ownership in PGR as of Q3 2025 with a market cap of $144.81B

All Institutions

Institutions: 1,751
Value Held: $121.70B
Shares Held: 493.5M
Avg Position: $69.5M
Median Position: $1.2M

Hedge Funds

Hedge Funds: 100
Value Held: $3.7B
Shares Held: 15.2M
Avg Position: $37.4M
Median Position: $5.0M

Ownership Breakdown

Institutional (non-HF)

81.46%

$117.96B

Hedge Funds

2.58%

$3.7B

Retail & Other

15.96%

$23.1B

Based on market cap of $144.81B as of Q3 2025. Institutional (non-HF) excludes hedge funds to avoid double counting.

Biggest Investors

Institutions with the largest positions in PGR as of Q3 2025

Institution	Key People	Position Value	Ownership	Owned Since	Total AUM (Long)
VANGUARD GROUP INC Institution	Salim Ramji CEO	$13.5B 0.20% of portfolio	9.32% 54.7M shares	≤ Q2 2013 Held for 12y 5m+	$6.69T
B BlackRock, Inc. Institution	-	$12.0B 0.21% of portfolio	8.31% 48.7M shares	≤ Q2 2013 Held for 12y 5m+	$5.67T
STATE STREET CORP Institution	Ronald P. O'Hanley CEO	$6.4B 0.22% of portfolio	4.40% 25.8M shares	≤ Q2 2013 Held for 12y 5m+	$2.88T
JPMORGAN CHASE & CO Institution	Jamie Dimon CEO	$4.5B 0.29% of portfolio	3.13% 18.3M shares	≤ Q2 2013 Held for 12y 5m+	$1.56T
GEODE CAPITAL MANAGEMENT LLC ETF Provider	David Kenneth Lane CEO	$3.9B 0.25% of portfolio	2.67% 15.7M shares	≤ Q2 2013 Held for 12y 5m+	$1.57T
C Capital International Investors Institution	-	$3.4B 0.55% of portfolio	2.34% 13.7M shares	Q3 2022 Held for 3y 2m	$615.90B
BANK OF AMERICA CORP /DE/ Institution	Brian T. Moynihan CEO	$3.3B 0.25% of portfolio	2.28% 13.4M shares	≤ Q2 2013 Held for 12y 5m+	$1.33T
MASSACHUSETTS FINANCIAL SERVICES CO /MA/ Long Only Manager	Edward Murray Maloney CEO	$3.1B 0.98% of portfolio	2.17% 12.8M shares	Q2 2020 Held for 5y 5m	$322.72B
FMR LLC Institution	-	$3.0B 0.16% of portfolio	2.08% 12.2M shares	≤ Q2 2013 Held for 12y 5m+	$1.92T
Capital Research Global Investors RIA/Wealth	Sardar Sheraz Iftikhar CEO	$2.8B 0.52% of portfolio	1.90% 11.2M shares	≤ Q2 2013 Held for 12y 5m+	$532.36B

Net Capital Flow

Institutional buying and selling activity for PGR in Q3 2025

Net Flow: −$541.8M
Buyers: 671
Sellers: 937
Total Bought: +$7.9B
Total Sold: −$8.4B
Avg Position: $65.8M

Biggest Buyers

Institution	Net Bought	Current Position
C Capital International Investors Institution	+$1.5B +6.0M shares	$3.4B 13.7M shares
JPMORGAN CHASE & CO Institution	+$732.8M +3.0M shares	$4.5B 18.3M shares
Capital Research Global Investors RIA/Wealth	+$571.7M +2.3M shares	$2.8B 11.2M shares
TWO SIGMA ADVISERS, LLC Hedge Fund•Multi-Strategy	+$339.8M +1.4M shares	$375.3M 1.5M shares
B BlackRock, Inc. Institution	+$266.3M +1.1M shares	$12.0B 48.7M shares
HENDERSON GROUP PLC Institution	+$218.3M +884.1K shares	$1.2B 5.0M shares
GQG Partners LLC Long Only Manager	+$198.2M +802.7K shares	$2.3B 9.3M shares
C CANADA PENSION PLAN INVESTMENT BOARD Institution	+$186.5M +755.3K shares	$207.9M 841.7K shares
A Atlantic Trust Group, LLC Institution	+$180.6M +731.2K shares	$189.5M 767.5K shares
MARSHFIELD ASSOCIATES Long Only Manager	+$161.4M +653.8K shares	$389.6M 1.6M shares

Biggest Sellers

Institution	Net Sold	Current Position
JENNISON ASSOCIATES LLC Long Only Manager	−$782.9M −3.2M shares	$13.9M 56.1K shares
PRINCIPAL FINANCIAL GROUP INC Institution	−$646.7M −2.6M shares	$217.3M 879.7K shares
FMR LLC Institution	−$563.5M −2.3M shares	$3.0B 12.2M shares
UBS GLOBAL ASSET MANAGEMENT AMERICAS INC Long Only Manager	−$330.2M −1.3M shares	$1.4B 5.9M shares
B BROWN ADVISORY INC RIA/Wealth	−$264.8M −1.1M shares	$808.3M 3.3M shares
MORGAN STANLEY RIA/Wealth	−$248.6M −1.0M shares	$2.6B 10.3M shares
Invesco Ltd. ETF Provider	−$217.7M −881.4K shares	$960.1M 3.9M shares
VICTORY CAPITAL MANAGEMENT INC Long Only Manager	−$203.7M −825.0K shares	$93.8M 379.6K shares
WELLINGTON MANAGEMENT CO LLP Long Only Manager	−$180.9M −732.3K shares	$570.2M 2.3M shares
P Palestra Capital Management LLC Hedge Fund•Long/Short	−$166.8M −625.0K shares	Sold Off 0 shares

Entry and Exit Activity

Institutions that initiated new positions or completely exited PGR in Q3 2025

New Positions: 57
New Value: $66.8M
Exited Positions: 189
Exited Value: $1.0B

New Positions

Institution	Position Value
Morningstar Investment Management LLC Long Only Manager	$13.8M 55.9K shares
W WINMILL & CO. INC Institution	$13.7M 55.3K shares
I IPG Investment Advisors LLC RIA/Wealth	$12.2M 49.6K shares
A Aware Super Pty Ltd as trustee of Aware Super Institution	$4.0M 16.3K shares
Strategic Global Advisors, LLC Long Only Manager	$3.0M 12.1K shares
C CacheTech Inc. Hedge Fund•Multi-Strategy	$2.5M 10.0K shares
T TEMA ETFS LLC Institution	$2.2M 9.1K shares
A Adams Wealth Management Institution	$2.2M 9.0K shares
D DYMON ASIA CAPITAL PTE. LTD. Institution	$2.0M 8.3K shares
Ally Financial Inc. Institution	$2.0M 8.0K shares

Exited Positions

Institution	Previous Position
P Palestra Capital Management LLC Hedge Fund•Long/Short	$166.8M 625.0K shares
WESTFIELD CAPITAL MANAGEMENT CO LP Long Only Manager	$120.2M 450.3K shares
MARSICO CAPITAL MANAGEMENT LLC Long Only Manager	$84.8M 317.8K shares
Woodline Partners LP Hedge Fund•Long/Short	$83.2M 311.8K shares
JACOBS LEVY EQUITY MANAGEMENT, INC Hedge Fund•Quant	$66.7M 249.9K shares
C Cubist Systematic Strategies, LLC Institution	$59.6M 223.3K shares
Aquatic Capital Management LLC Hedge Fund•Quant	$55.9M 209.6K shares
C Crow's Nest Holdings LP Hedge Fund•Value	$18.7M 70.0K shares
R Railway Pension Investments Ltd Institution	$17.5M 65.4K shares
P PINNBROOK CAPITAL MANAGEMENT LP Hedge Fund•Global Macro	$14.2M 53.3K shares

Options Activity

Institutions with the largest Call and Put options positions in PGR as of Q3 2025

Call Positions: 38
Call Value: $468.9M
Put Positions: 36
Put Value: $372.8M

Call Positions

Institution	Position Value
SUSQUEHANNA INTERNATIONAL GROUP, LLP Private Equity	$130.2M 5.3K contracts
CITADEL ADVISORS LLC Hedge Fund•Multi-Strategy	$86.8M 3.5K contracts
J JANE STREET GROUP, LLC Institution	$32.3M 1.3K contracts
T Twin Tree Management, LP Hedge Fund•Vol Arbitrage	$25.1M 1.0K contracts
W WOLVERINE TRADING, LLC Institution	$20.4M 833.0 contracts
CAPITAL FUND MANAGEMENT S.A. Hedge Fund•Quant Macro	$20.3M 821.0 contracts
D D. E. Shaw & Co., Inc. Institution	$17.4M 703.0 contracts
C Cubist Systematic Strategies, LLC Institution	$16.7M 677.0 contracts
Q Qube Research & Technologies Ltd Institution	$15.6M 631.0 contracts
D Delta Accumulation, LLC Hedge Fund•Vol Arbitrage	$13.0M 76.0 contracts

Put Positions

Institution	Position Value
SUSQUEHANNA INTERNATIONAL GROUP, LLP Private Equity	$156.2M 6.3K contracts
CITADEL ADVISORS LLC Hedge Fund•Multi-Strategy	$57.3M 2.3K contracts
J JANE STREET GROUP, LLC Institution	$32.2M 1.3K contracts
Q Qube Research & Technologies Ltd Institution	$17.0M 690.0 contracts
D Delta Accumulation, LLC Hedge Fund•Vol Arbitrage	$12.9M 76.0 contracts
CAPSTONE INVESTMENT ADVISORS, LLC Hedge Fund•Multi-Strategy	$11.4M 461.0 contracts
CAPITAL FUND MANAGEMENT S.A. Hedge Fund•Quant Macro	$10.5M 427.0 contracts
B BNP PARIBAS ARBITRAGE, SA Institution	$9.6M 3.9 contracts
W WOLVERINE TRADING, LLC Institution	$8.9M 364.0 contracts
Sequoia Financial Advisors, LLC RIA/Wealth	$6.3M 255.0 contracts

Most Committed Institutions

Institutions with PGR as the highest % of their portfolio as of Q3 2025

Institution	Key People	Portfolio Weight	Ownership	Owned Since	Total AUM (Long)
B BONNESS ENTERPRISES INC Institution	-	41.51% $126.6M	0.09% 512.5K shares	≤ Q2 2013 Held for 12y 5m+	$304.8M
M MBB PUBLIC MARKETS I LLC Institution	-	24.53% $184.1M	0.13% 745.6K shares	Q1 2024 Held for 1y 8m	$750.7M
C Courant Investment Management LLC Hedge Fund•Value	Claude [Nmn] Leveille Managing Partner	22.68% $28.7M	0.02% 116.2K shares	Q1 2020 Held for 5y 8m	$126.5M
V Van Cleef Asset Management,Inc RIA/Wealth	Martin J Burke President	18.89% $185.8M	0.13% 752.6K shares	≤ Q2 2013 Held for 12y 5m+	$984.1M
M MCDONALD CAPITAL INVESTORS INC/CA RIA/Wealth	Andrew J. Mcdonald President	14.01% $225.4M	0.16% 912.9K shares	≤ Q2 2013 Held for 12y 5m+	$1.6B
Headland Capital, LLC RIA/Wealth	David Whittle Upchurch Managing Partner	13.81% $49.2M	0.03% 199.3K shares	Q4 2024 Held for 11 months	$356.2M
B BloombergSen Inc. Institution	Richard J Bloom President	12.61% $148.6M	0.10% 601.8K shares	Q1 2020 Held for 5y 8m	$1.2B
Capco Asset Management, LLC Hedge Fund•Value	William Hughes Harrell Managing Partner	11.35% $48.7M	0.03% 197.1K shares	Q4 2016 Held for 8y 11m	$428.9M
L LFL Advisers, LLC Hedge Fund•Value	Peter Clarke Lewis CCO	10.37% $29.9M	0.02% 121.3K shares	Q4 2016 Held for 8y 11m	$288.9M
Global Frontier Investments LLC Hedge Fund•Sector	Hedi (Nmn) Ben Mlouka CEO	8.81% $44.9M	0.03% 182.0K shares	Q2 2025 Held for 5 months	$510.2M

Hedge Fund Spotlight

Discover hedge funds investing in PGR

CITADEL ADVISORS LLC

Hedge Fund • Multi-Strategy

Portfolio ManagerKenneth Cordele Griffin

Portfolio Value: $122.08B
Positions: 5,531
Last Reported: Q3 2025

Sector Allocation

Position in Progressive

Market Value: $62.4M
Shares Held: 252.8K
Portfolio Weight: 0.05%
Owned Since: 2013-Q2

Top Holding	Sector	Market Value	Weight
1 Microsoft MSFT	Software - Infrastructure Technology	$2.1B	1.68%
2 Nvidia NVDA	Semiconductors Technology	$1.8B	1.50%
3 Meta Platforms, Inc. META	Internet Content & Information Communication Services	$1.4B	1.18%