RLI

RLI • NYSE

RLI is a insurance - property & casualty company in the financial services sector on NYSE, led by Craig W. Kliethermes, with a market cap of $5.9B. As of Q3 2025, 82% of shares are held by 424 institutional investors, with VANGUARD GROUP INC as the largest holder at 9.95%.

Chief Executive OfficerCraig W. Kliethermes

Market Cap$5.9B

Insurance - Property & Casualty

Financial Services

Employees1.1K

Websiterlicorp.com

Country

United States of America

Overview

Overview of institutional ownership in RLI as of Q3 2025 with a market cap of $6.0B

All Institutions

Institutions: 424
Value Held: $4.9B
Shares Held: 75.2M
Avg Position: $11.6M
Median Position: $800.9K

Hedge Funds

Hedge Funds: 50
Value Held: $364.0M
Shares Held: 5.6M
Avg Position: $7.3M
Median Position: $2.1M

Ownership Breakdown

Institutional (non-HF)

75.88%

$4.5B

Hedge Funds

6.08%

$364.0M

Retail & Other

18.04%

$1.1B

Based on market cap of $6.0B as of Q3 2025. Institutional (non-HF) excludes hedge funds to avoid double counting.

Biggest Investors

Institutions with the largest positions in RLI as of Q3 2025

Institution	Key People	Position Value	Ownership	Owned Since	Total AUM (Long)
VANGUARD GROUP INC Institution	Salim Ramji CEO	$596.0M 0.01% of portfolio	9.95% 9.1M shares	≤ Q2 2013 Held for 12y 5m+	$6.69T
STATE STREET CORP Institution	Ronald P. O'Hanley CEO	$570.7M 0.02% of portfolio	9.53% 8.8M shares	≤ Q2 2013 Held for 12y 5m+	$2.88T
B BlackRock, Inc. Institution	-	$536.4M 0.01% of portfolio	8.96% 8.2M shares	≤ Q2 2013 Held for 12y 5m+	$5.67T
KAYNE ANDERSON RUDNICK INVESTMENT MANAGEMENT LLC Long Only Manager	George Robert Aylward CEO	$369.5M 0.90% of portfolio	6.17% 5.7M shares	≤ Q2 2013 Held for 12y 5m+	$41.0B
MARKEL CORP Institution	Thomas S. Gayner CEO	$156.2M 1.27% of portfolio	2.61% 2.4M shares	≤ Q2 2013 Held for 12y 5m+	$12.3B
GEODE CAPITAL MANAGEMENT LLC ETF Provider	David Kenneth Lane CEO	$138.6M 0.01% of portfolio	2.31% 2.1M shares	≤ Q2 2013 Held for 12y 5m+	$1.57T
DIMENSIONAL FUND ADVISORS LP Long Only Manager	David Paul Butler CEO	$116.5M 0.02% of portfolio	1.95% 1.8M shares	≤ Q2 2013 Held for 12y 5m+	$466.32B
Maren Capital LLC Long Only Manager	Bradley Carl Schatz CEO	$110.2M 6.13% of portfolio	1.84% 1.7M shares	Q4 2023 Held for 1y 11m	$1.8B
P Port Capital LLC Hedge Fund•Value	Brien Michael Obrien CEO	$100.3M 4.26% of portfolio	1.67% 1.5M shares	Q4 2017 Held for 7y 11m	$2.4B
T T. Rowe Price Investment Management, Inc. Insurance Manager	John Edward Robison President	$96.9M 0.06% of portfolio	1.62% 1.5M shares	Q4 2023 Held for 1y 11m	$161.58B

Net Capital Flow

Institutional buying and selling activity for RLI in Q3 2025

Traded: +$115.1M
Buyers: 231
Sellers: 172
Total Bought: +$408.4M
Total Sold: −$293.3M
Avg Position: $10.4M

Biggest Buyers

Institution	Net Bought	Current Position
B BlackRock, Inc. Institution	+$34.9M +535.8K shares	$536.4M 8.2M shares
TWO SIGMA INVESTMENTS LLC Hedge Fund•Multi-Strategy	+$22.7M +347.9K shares	$29.1M 446.4K shares
Bragg Financial Advisors, Inc RIA/Wealth	+$21.9M +335.4K shares	$48.7M 746.2K shares
GOLDMAN SACHS GROUP INC Institution	+$19.5M +298.2K shares	$31.5M 483.3K shares
UBS Group AG Institution	+$18.5M +283.1K shares	$36.4M 558.6K shares
STATE STREET CORP Institution	+$18.3M +280.0K shares	$570.7M 8.8M shares
AQR CAPITAL MANAGEMENT LLC Hedge Fund•Multi-Strategy	+$16.5M +253.8K shares	$23.1M 356.2K shares
Q Qube Research & Technologies Ltd Institution	+$14.4M +220.7K shares	$14.4M 220.7K shares
JPMORGAN CHASE & CO Institution	+$12.5M +191.0K shares	$92.8M 1.4M shares
D D. E. Shaw & Co., Inc. Institution	+$11.2M +172.1K shares	$20.5M 313.9K shares

Biggest Sellers

Institution	Net Sold	Current Position
ALLIANCEBERNSTEIN L.P. Long Only Manager	−$46.4M −711.2K shares	$7.2M 109.7K shares
MILLENNIUM MANAGEMENT LLC Hedge Fund•Multi-Strategy	−$22.7M −348.8K shares	$12.7M 194.8K shares
T T. Rowe Price Investment Management, Inc. Insurance Manager	−$19.1M −292.2K shares	$96.9M 1.5M shares
JACOBS LEVY EQUITY MANAGEMENT, INC Hedge Fund•Quant	−$17.1M −261.7K shares	$26.3M 403.8K shares
FIRST TRUST ADVISORS LP ETF Provider	−$16.7M −255.9K shares	$2.9M 43.9K shares
THRIVENT FINANCIAL FOR LUTHERANS Insurance Manager	−$16.4M −251.2K shares	$73.4M 1.1M shares
Woodline Partners LP Hedge Fund•Long/Short	−$15.5M −214.4K shares	Sold Off 0 shares
CITADEL ADVISORS LLC Hedge Fund•Multi-Strategy	−$12.9M −197.1K shares	$9.9M 151.2K shares
UBS GLOBAL ASSET MANAGEMENT AMERICAS INC Long Only Manager	−$9.3M −142.5K shares	$18.8M 288.3K shares
LOS ANGELES CAPITAL MANAGEMENT & EQUITY RESEARCH INC Long Only Manager	−$8.7M −132.9K shares	$2.1M 31.5K shares

Entry and Exit Activity

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

New Positions: 22
New Value: $13.3M
Exited Positions: 47
Exited Value: $47.3M

New Positions

Institution	Position Value
C Capitolis Liquid Global Markets LLC Private Equity	$9.4M 144.6K shares
Morningstar Investment Management LLC Long Only Manager	$1.0M 15.3K shares
B Bridgefront Capital, LLC Hedge Fund•Quant	$700.9K 10.7K shares
Virtus ETF Advisers LLC Long Only Manager	$486.9K 7.5K shares
F Farringdon Capital, Ltd. Institution	$462.6K 7.1K shares
C CAXTON ASSOCIATES LLP Institution	$383.3K 5.9K shares
V Vise Technologies, Inc. Institution	$298.7K 4.6K shares
F Fieldview Capital Management, LLC Hedge Fund•Long/Short	$215.5K 3.3K shares
D Daiwa Securities Group Inc. Institution	$119.4K 1.8K shares
A Abich Financial Wealth Management LLC RIA/Wealth	$115.4K 1.8K shares

Exited Positions

Institution	Previous Position
Woodline Partners LP Hedge Fund•Long/Short	$15.5M 214.4K shares
E EVENTIDE ASSET MANAGEMENT, LLC Long Only Manager	$7.9M 110.1K shares
DONALDSON CAPITAL MANAGEMENT, LLC RIA/Wealth	$4.1M 56.2K shares
T TEXAS PERMANENT SCHOOL FUND Institution	$2.7M 37.9K shares
ROYAL LONDON ASSET MANAGEMENT LTD Digital Asset Manager	$2.7M 36.9K shares
LEUCADIA NATIONAL CORP Institution	$2.5M 34.3K shares
A Amundi Institution	$1.7M 24.0K shares
O ONTARIO TEACHERS PENSION PLAN BOARD Institution	$1.0M 14.3K shares
SCHRODER INVESTMENT MANAGEMENT GROUP RIA/Wealth	$1.0M 14.2K shares
E Elo Mutual Pension Insurance Co Institution	$811.8K 11.2K shares

Options Activity

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

Call Positions: 3
Call Value: $730.5K
Put Positions: 1
Put Value: $443.5K

Call Positions

Institution	Position Value
SUSQUEHANNA INTERNATIONAL GROUP, LLP Private Equity	$508.7K 78.0 contracts
Walleye Trading LLC RIA/Wealth	$221.7K 34.0 contracts
CITADEL ADVISORS LLC Hedge Fund•Multi-Strategy	- - contracts

Put Positions

Institution	Position Value
SUSQUEHANNA INTERNATIONAL GROUP, LLP Private Equity	$443.5K 68.0 contracts

Most Committed Institutions

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

Institution	Key People	Portfolio Weight	Ownership	Owned Since	Total AUM (Long)
Maren Capital LLC Long Only Manager	Bradley Carl Schatz CEO	6.13% $110.2M	1.84% 1.7M shares	Q4 2023 Held for 1y 11m	$1.8B
ST. NICHOLAS PRIVATE ASSET MANAGEMENT, INC RIA/Wealth	Jeffrey Scott Witt CEO	5.82% $6.7M	0.11% 102.8K shares	Q4 2024 Held for 11 months	$115.2M
K Karani Asset Management LLC Long Only Manager	Richard Lyman Bayles Managing Partner	5.11% $6.0M	0.10% 91.8K shares	Q4 2024 Held for 11 months	$117.1M
P Port Capital LLC Hedge Fund•Value	Brien Michael Obrien CEO	4.26% $100.3M	1.67% 1.5M shares	Q4 2017 Held for 7y 11m	$2.4B
Nepsis Capital Management, Inc. RIA/Wealth	Mark William Pearson President	4.12% $13.0M	0.22% 199.2K shares	Q4 2023 Held for 1y 11m	$315.3M
Philo Smith Capital Corp Hedge Fund•Sector	James Earl Inglis President	3.64% $13.0M	0.22% 199.8K shares	Q3 2021 Held for 4y 2m	$358.4M
L LRT Capital Management, LLC Institution	-	2.63% $4.0M	0.07% 60.8K shares	Q1 2023 Held for 2y 8m	$150.9M
Van Berkom & Associates Inc. Long Only Manager	Joannes Sebastian Van Berkom CEO	2.28% $80.2M	1.34% 1.2M shares	≤ Q2 2013 Held for 12y 5m+	$3.5B
Global Alpha Capital Management Ltd. Long Only Manager	Robert Beauregard President	1.73% $30.3M	0.51% 464.5K shares	Q2 2015 Held for 10y 5m	$1.7B
Bragg Financial Advisors, Inc RIA/Wealth	Benton Sellers Bragg CEO	1.63% $48.7M	0.81% 746.2K shares	≤ Q2 2013 Held for 12y 5m+	$3.0B

Hedge Fund Spotlight

Discover hedge funds investing in RLI

WORLDQUANT MILLENNIUM QUANTITATIVE STRATEGIES LLC

Hedge Fund • Multi-Strategy

Portfolio ManagerDan Michael Berkovitz

Portfolio Value: $23.2B
Positions: 502
Last Reported: Q3 2025

Sector Allocation

Position in RLI

Market Value: $1.1M
Shares Held: 17.6K
Portfolio Weight: 0.00%
Owned Since: 2025-Q2

Top Holding	Sector	Market Value	Weight
1 Apple AAPL	Consumer Electronics Technology	$1.3B	5.60%
2 Nvidia NVDA	Semiconductors Technology	$1.2B	5.24%
3 Microsoft MSFT	Software - Infrastructure Technology	$1.0B	4.41%