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Lemonade
LMND

277 hedge funds and large institutions have $1.97B invested in Lemonade in 2025 Q2 according to their latest regulatory filings, with 64 funds opening new positions, 97 increasing their positions, 52 reducing their positions, and 35 closing their positions.

New
Increased
Maintained
Reduced
Closed

94% more call options, than puts

Call options by funds: $228M | Put options by funds: $118M

87% more repeat investments, than reductions

Existing positions increased: 97 | Existing positions reduced: 52

83% more first-time investments, than exits

New positions opened: 64 | Existing positions closed: 35

43% more capital invested

Capital invested by funds: $1.38B → $1.97B (+$595M)

33% more funds holding in top 10

Funds holding in top 10: 3 → 4 (+1)

11% more funds holding

Funds holding: 250 → 277 (+27)

1.29% more ownership

Funds ownership: 60.14% → 61.43% (+1.3%)

Holders
277
Holders Change
+27
Holders Change %
+10.8%
% of All Funds
3.65%
Holding in Top 10
4
Holding in Top 10 Change
+1
Holding in Top 10 Change %
+33.33%
% of All Funds
0.05%
New
64
Increased
97
Reduced
52
Closed
35
Calls
$228M
Puts
$118M
Net Calls
+$110M
Net Calls Change
+$59.3M

Top Buyers

Rank Fund Capital Flow
1
Morgan Stanley
Morgan Stanley
New York
+$33.7M
2
UBS Group
UBS Group
Switzerland
+$24.9M
3
Jane Street
Jane Street
New York
+$18.9M
4
JP Morgan Chase
JP Morgan Chase
New York
+$17.4M
5
JF
Jump Financial
Illinois
+$15.2M

Top Sellers

Rank Fund Capital Flow
1
SoftBank Group
SoftBank Group
Japan
-$150M
2
Marshall Wace
Marshall Wace
United Kingdom
-$9.25M
3
Millennium Management
Millennium Management
New York
-$8.47M
4
HFF
Halter Ferguson Financial
Indiana
-$6.35M
5
Group One Trading
Group One Trading
Illinois
-$5.38M
Name Holding Trade Value Shares
Change 		Change in
Stake
DSC
301
Duncker Streett & Co
Missouri
– -$1.16K -37 Closed
FDW
302
Fourth Dimension Wealth
Ohio
– -$1.07K -34 Closed
HCP
303
Hexagon Capital Partners
Arkansas
– -$1.01K -32 Closed
SC
304
Stephens Consulting
Michigan
– -$629 -20 Closed
LWANC
305
Laurel Wealth Advisors (North Carolina)
North Carolina
– -$598 -19 Closed
CWA
306
Carolina Wealth Advisors
South Carolina
– -$409 -13 Closed
BI
307
Binnacle Investments
Iowa
– -$314 -10 Closed
WT
308
Washington Trust
Rhode Island
– -$314 -10 Closed
TWD
309
True Wealth Design
Ohio
– -$95 -3 Closed
TFM
310
TFC Financial Management
Massachusetts
– -$32 -1 Closed
9 10 11 12
13

LMND Hedge Fund Activity: Q2 2025 in Review

277 of the 7,596 institutional investors tracked by Wall St. Rank reported a position in Lemonade (LMND) for Q2 2025, worth a combined $1.97B — up 43% from $1.38B a quarter earlier.

Buyers outnumbered sellers: 64 funds opened new LMND positions and 35 closed out — a net gain of 29 holders — while 97 added to existing stakes and 52 trimmed.

The largest buyer was Morgan Stanley, adding an estimated $33.7M. The largest seller was SoftBank Group, cutting an estimated $150M.

  • 277 institutional investors held Lemonade (LMND) as of Q2 2025, up from 250 in Q1 2025.
  • Funds reported $1.97B of Lemonade stock for Q2 2025, up 43% quarter-over-quarter.
  • 64 funds opened new Lemonade positions in Q2 2025 and 35 closed out, a net change of +29 holders.
  • The largest Lemonade buyer in Q2 2025 was Morgan Stanley, an estimated $33.7M added.
  • The largest Lemonade seller in Q2 2025 was SoftBank Group, an estimated $150M sold.

Based on aggregated 13F filings for Q2 2025.