Trupanion

TRUP • NASDAQ

Trupanion is a insurance - specialty company in the financial services sector on NASDAQ, led by Margaret Tooth, with a market cap of $1.6B. As of Q3 2025, 88% of shares are held by 219 institutional investors, with BlackRock, Inc. as the largest holder at 12.0%.

Chief Executive OfficerMargaret Tooth

Market Cap$1.6B

Insurance - Specialty

Financial Services

Employees1.1K

Websitetrupanion.com

Country

United States of America

Overview

Overview of institutional ownership in TRUP as of Q3 2025 with a market cap of $1.9B

All Institutions

Institutions: 219
Value Held: $1.6B
Shares Held: 37.7M
Avg Position: $7.4M
Median Position: $544.6K

Hedge Funds

Hedge Funds: 39
Value Held: $227.5M
Shares Held: 5.3M
Avg Position: $5.8M
Median Position: $1.7M

Ownership Breakdown

Institutional (non-HF)

75.45%

$1.4B

Hedge Funds

12.23%

$227.5M

Retail & Other

12.33%

$229.4M

Based on market cap of $1.9B as of Q3 2025. Institutional (non-HF) excludes hedge funds to avoid double counting.

Biggest Investors

Institutions with the largest positions in TRUP as of Q3 2025

Institution	Key People	Position Value	Ownership	Owned Since	Total AUM (Long)
B BlackRock, Inc. Institution	-	$223.3M 0.00% of portfolio	12.00% 5.2M shares	Q1 2016 Held for 9y 8m	$5.67T
C Capital World Investors Institution	-	$178.1M 0.02% of portfolio	9.57% 4.1M shares	Q4 2014 Held for 10y 11m	$730.00B
AFLAC INC Institution	Daniel P. Amos CEO	$157.4M 99.90% of portfolio	8.46% 3.6M shares	Q1 2022 Held for 3y 8m	$157.5M
VANGUARD GROUP INC Institution	Salim Ramji CEO	$153.8M 0.00% of portfolio	8.27% 3.6M shares	Q3 2014 Held for 11y 2m	$6.69T
FMR LLC Institution	-	$57.6M 0.00% of portfolio	3.09% 1.3M shares	Q3 2019 Held for 6y 2m	$1.92T
Polar Capital Holdings Plc Long Only Manager	Gavin Mark Rochussen CEO	$56.3M 0.27% of portfolio	3.02% 1.3M shares	Q1 2022 Held for 3y 8m	$20.8B
BALYASNY ASSET MANAGEMENT LLC Hedge Fund•Multi-Strategy	Dmitry Balyasny CIO	$56.1M 0.12% of portfolio	3.01% 1.3M shares	Q2 2023 Held for 2y 5m	$48.1B
STATE STREET CORP Institution	Ronald P. O'Hanley CEO	$54.7M 0.00% of portfolio	2.94% 1.3M shares	Q3 2014 Held for 11y 2m	$2.88T
Marshall Wace LLP Institution	Diana Lj Harrison President	$52.5M 0.06% of portfolio	2.82% 1.2M shares	Q1 2022 Held for 3y 8m	$90.3B
BANK OF AMERICA CORP /DE/ Institution	Brian T. Moynihan CEO	$42.8M 0.00% of portfolio	2.30% 989.8K shares	Q1 2015 Held for 10y 8m	$1.33T

Net Capital Flow

Institutional buying and selling activity for TRUP in Q3 2025

Traded: −$81.0M
Buyers: 101
Sellers: 118
Total Bought: +$138.2M
Total Sold: −$219.2M
Avg Position: $6.3M

Biggest Buyers

Institution	Net Bought	Current Position
BALYASNY ASSET MANAGEMENT LLC Hedge Fund•Multi-Strategy	+$36.6M +846.8K shares	$56.1M 1.3M shares
MILLENNIUM MANAGEMENT LLC Hedge Fund•Multi-Strategy	+$17.4M +402.4K shares	$26.8M 619.0K shares
TWO SIGMA INVESTMENTS LLC Hedge Fund•Multi-Strategy	+$9.4M +217.6K shares	$9.7M 224.4K shares
Marshall Wace LLP Institution	+$7.1M +163.1K shares	$52.5M 1.2M shares
TUDOR INVESTMENT CORP ET AL Hedge Fund•Multi-Strategy	+$6.6M +153.5K shares	$10.3M 237.1K shares
UBS Group AG Institution	+$4.9M +114.0K shares	$7.6M 176.3K shares
C Campbell & CO Investment Adviser LLC Hedge Fund•Quant Macro	+$3.8M +87.1K shares	$3.8M 87.1K shares
BARCLAYS PLC Institution	+$3.5M +81.9K shares	$16.4M 379.9K shares
Q Qube Research & Technologies Ltd Institution	+$3.5M +80.2K shares	$5.0M 116.1K shares
M MAVERICK CAPITAL LTD Hedge Fund•Long/Short	+$3.0M +70.2K shares	$3.4M 79.6K shares

Biggest Sellers

Institution	Net Sold	Current Position
WELLINGTON MANAGEMENT CO LLP Long Only Manager	−$60.2M −1.4M shares	$28.0M 647.9K shares
B BAILLIE GIFFORD & CO Institution	−$33.2M −599.1K shares	Sold Off 0 shares
BANK OF AMERICA CORP /DE/ Institution	−$13.7M −317.2K shares	$42.8M 989.8K shares
PALISADE CAPITAL MANAGEMENT LLC/NJ Long Only Manager	−$13.2M −237.8K shares	Sold Off 0 shares
DF DENT & CO INC Long Only Manager	−$13.0M −234.9K shares	Sold Off 0 shares
S Squarepoint Ops LLC Hedge Fund•Quant	−$8.4M −193.9K shares	$3.1M 70.9K shares
MORGAN STANLEY RIA/Wealth	−$7.5M −174.4K shares	$33.8M 781.0K shares
VOLORIDGE INVESTMENT MANAGEMENT, LLC Hedge Fund•Multi-Strategy	−$6.2M −112.6K shares	Sold Off 0 shares
JACOBS LEVY EQUITY MANAGEMENT, INC Hedge Fund•Quant	−$4.5M −104.6K shares	$6.1M 141.4K shares
GOLDMAN SACHS GROUP INC Institution	−$4.5M −103.3K shares	$9.5M 220.5K shares

Entry and Exit Activity

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

New Positions: 12
New Value: $9.0M
Exited Positions: 39
Exited Value: $81.5M

New Positions

Institution	Position Value
C Campbell & CO Investment Adviser LLC Hedge Fund•Quant Macro	$3.8M 87.1K shares
Bridgewater Associates, LP Hedge Fund•Global Macro	$2.7M 63.0K shares
B BRANT POINT INVESTMENT MANAGEMENT LLC Hedge Fund•Long/Short	$1.2M 26.9K shares
B Bryce Point Capital, LLC Hedge Fund•Market Neutral	$606.3K 14.0K shares
Susquehanna Portfolio Strategies, LLC Private Equity	$304.5K 7.0K shares
B Bridgefront Capital, LLC Hedge Fund•Quant	$218.2K 5.0K shares
CONTRAVISORY INVESTMENT MANAGEMENT, INC. Long Only Manager	$199.3K 4.6K shares
P Pilgrim Partners Asia Pte Ltd Institution	$39.0K 900.0 shares
O Optiver Holding B.V. Institution	$8.2K 190.0 shares
S Salomon & Ludwin, LLC Institution	$8.1K 186.0 shares

Exited Positions

Institution	Previous Position
B BAILLIE GIFFORD & CO Institution	$33.2M 599.1K shares
PALISADE CAPITAL MANAGEMENT LLC/NJ Long Only Manager	$13.2M 237.8K shares
DF DENT & CO INC Long Only Manager	$13.0M 234.9K shares
VOLORIDGE INVESTMENT MANAGEMENT, LLC Hedge Fund•Multi-Strategy	$6.2M 112.6K shares
T TEXAS PERMANENT SCHOOL FUND Institution	$3.5M 63.5K shares
C CANADA PENSION PLAN INVESTMENT BOARD Institution	$2.0M 36.9K shares
C Cubist Systematic Strategies, LLC Institution	$1.7M 30.0K shares
H Hidden Lake Asset Management LP Hedge Fund•Long/Short	$1.4M 26.1K shares
Weiss Asset Management LP Hedge Fund•Multi-Strategy	$1.1M 20.5K shares
Point72 Asset Management, L.P. Hedge Fund•Multi-Strategy	$596.6K 10.8K shares

Options Activity

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

Call Positions: 11
Call Value: $26.5M
Put Positions: 10
Put Value: $12.7M

Call Positions

Institution	Position Value
BALYASNY ASSET MANAGEMENT LLC Hedge Fund•Multi-Strategy	$15.1M 3.5K contracts
SUSQUEHANNA INTERNATIONAL GROUP, LLP Private Equity	$4.9M 1.1K contracts
BARCLAYS PLC Institution	$4.3M 1.0K contracts
CITADEL ADVISORS LLC Hedge Fund•Multi-Strategy	$653.5K 151.0 contracts
W WOLVERINE TRADING, LLC Institution	$429.4K 98.0 contracts
J JANE STREET GROUP, LLC Institution	$415.5K 96.0 contracts
Walleye Trading LLC RIA/Wealth	$406.8K 94.0 contracts
D D. E. Shaw & Co., Inc. Institution	$264.0K 61.0 contracts
C CSS LLC/IL Institution	- - contracts
Walleye Trading Advisors, LLC Hedge Fund•Multi-Strategy	- - contracts

Put Positions

Institution	Position Value
SUSQUEHANNA INTERNATIONAL GROUP, LLP Private Equity	$7.2M 1.7K contracts
CITADEL ADVISORS LLC Hedge Fund•Multi-Strategy	$2.9M 675.0 contracts
W WOLVERINE TRADING, LLC Institution	$1.7M 383.0 contracts
Walleye Trading LLC RIA/Wealth	$476.1K 110.0 contracts
J JANE STREET GROUP, LLC Institution	$428.5K 99.0 contracts
C CSS LLC/IL Institution	- - contracts
Caption Management, LLC Hedge Fund•Long/Short	- - contracts
Walleye Trading Advisors, LLC Hedge Fund•Multi-Strategy	- - contracts
Freshford Capital Management, LLC Hedge Fund•Long/Short	- - contracts
T TORNO CAPITAL, LLC Institution	- - contracts

Most Committed Institutions

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

Institution	Key People	Portfolio Weight	Ownership	Owned Since	Total AUM (Long)
AFLAC INC Institution	Daniel P. Amos CEO	99.90% $157.4M	8.46% 3.6M shares	Q1 2022 Held for 3y 8m	$157.5M
G GREENLEA LANE CAPITAL MANAGEMENT, LLC Hedge Fund•Value	Josh David Tarasoff Managing Partner	9.64% $33.1M	1.78% 764.1K shares	Q4 2018 Held for 6y 11m	$343.0M
K Kopion Asset Management, LLC RIA/Wealth	Terry Lee Ledbetter President	7.42% $11.5M	0.62% 264.6K shares	Q3 2022 Held for 3y 2m	$154.3M
Lagoda Investment Management, L.P. Long Only Manager	Fatima Katarzyna Dickey Managing Partner	6.37% $11.3M	0.60% 260.1K shares	Q2 2017 Held for 8y 5m	$176.7M
RENAISSANCERE HOLDINGS LTD RIA/Wealth	Blake Thornton Headley President	1.54% $11.4M	0.61% 263.0K shares	Q4 2019 Held for 5y 11m	$741.2M
B Bryce Point Capital, LLC Hedge Fund•Market Neutral	Gil Maor Managing Partner	0.74% $606.3K	0.03% 14.0K shares	Q3 2025 Held for 2 months	$81.9M
Hosking Partners LLP Hedge Fund•Value	Luke Robinson Orlando Bridgeman Partner	0.67% $18.7M	1.00% 430.9K shares	Q2 2024 Held for 1y 5m	$2.8B
Redmond Asset Management, LLC Long Only Manager	Robert Scott Redmond Managing Partner	0.47% $1.9M	0.10% 44.4K shares	Q2 2019 Held for 6y 5m	$407.3M
PDT Partners, LLC Hedge Fund•Quant	Peter (Nmn) Muller CEO	0.46% $7.3M	0.39% 167.7K shares	Q1 2023 Held for 2y 8m	$1.6B
Blueshift Asset Management, LLC Hedge Fund•Quant	Mani Sabet Mahjouri CEO	0.35% $1.1M	0.06% 26.4K shares	Q1 2023 Held for 2y 8m	$325.8M