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Progressive
PGR

420 hedge funds and large institutions have $10.9B invested in Progressive in 2014 Q2 according to their latest regulatory filings, with 58 funds opening new positions, 127 increasing their positions, 161 reducing their positions, and 28 closing their positions.

New
Increased
Maintained
Reduced
Closed

107% more first-time investments, than exits

New positions opened: 58 | Existing positions closed: 28

7% more funds holding

Funds holding: 394 → 420 (+26)

0% more capital invested

Capital invested by funds: $10.9B → $10.9B (+$9.99M)

0% more funds holding in top 10

Funds holding in top 10: 6 → 6 (0)

3.15% less ownership

Funds ownership: 76.02% → 72.87% (-3.1%)

21% less repeat investments, than reductions

Existing positions increased: 127 | Existing positions reduced: 161

63% less call options, than puts

Call options by funds: $1.24M | Put options by funds: $3.35M

Holders
420
Holders Change
+26
Holders Change %
+6.6%
% of All Funds
12.07%
Holding in Top 10
6
Holding in Top 10 Change
–
Holding in Top 10 Change %
–
% of All Funds
0.17%
New
58
Increased
127
Reduced
161
Closed
28
Calls
$1.24M
Puts
$3.35M
Net Calls
-$2.1M
Net Calls Change
-$2.29M

Top Buyers

1
Pzena Investment Management
Pzena Investment Management
New York
+$69.2M
2
Two Sigma Investments
Two Sigma Investments
New York
+$63.4M
3
Capital Research Global Investors
Capital Research Global Investors
California
+$62.6M
4
Norges Bank
Norges Bank
Norway
+$56M
5
Two Sigma Advisers
Two Sigma Advisers
New York
+$45.9M

Top Sellers

1
DSA
Davis Selected Advisers
Arizona
-$670M
2
Macquarie Group
Macquarie Group
Australia
-$354M
3
Capital World Investors
Capital World Investors
California
-$71.4M
4
Baillie Gifford & Co
Baillie Gifford & Co
United Kingdom
-$67.8M
5
Public Sector Pension Investment Board (PSP Investments)
Public Sector Pension Investment Board (PSP Investments)
Quebec, Canada
-$51.7M
Name Holding Trade Value Shares
Change 		Change in
Stake
HI
226
HBK Investments
Texas
$1.44M +$1.4M +56,700 New
SMDAM
227
Sumitomo Mitsui DS Asset Management
Japan
$1.43M -$153K -6,188 -10%
Robeco Institutional Asset Management
228
Robeco Institutional Asset Management
Netherlands
$1.4M +$231K +9,314 +20%
HighTower Advisors
229
HighTower Advisors
Illinois
$1.36M +$818K +33,017 +160%
CSS
230
Cubist Systematic Strategies
Connecticut
$1.33M +$1.3M +52,581 New
CCM
231
CrestPoint Capital Management
Missouri
$1.33M +$1.3M +52,300 New
VKH
232
Virtu KCG Holdings
New York
$1.32M +$392K +15,842 +44%
DADC
233
D.A. Davidson & Co
Montana
$1.31M -$18.1K -730 -1%
Fifth Third Bancorp
234
Fifth Third Bancorp
Ohio
$1.29M -$236K -9,518 -16%
V
235
Veritable
Delaware
$1.24M +$55.9K +2,257 +5%
SAM
236
Securian Asset Management
Minnesota
$1.24M -$11.1K -447 -0.9%
Arrowstreet Capital
237
Arrowstreet Capital
Massachusetts
$1.24M +$1.21M +48,904 New
Rafferty Asset Management
238
Rafferty Asset Management
New York
$1.22M +$1.19M +48,041 New
Tudor Investment Corp
239
Tudor Investment Corp
Connecticut
$1.21M +$706K +28,507 +148%
AC
240
Altus Capital
Ohio
$1.21M -$815K -32,901 -41%
NCCM
241
Nine Chapters Capital Management
New Jersey
$1.21M +$1.18M +47,600 New
GMIM
242
General Motors Investment Management
New York
$1.2M +$1.17M +47,335 New
B
243
Barings
North Carolina
$1.13M +$218K +8,800 +25%
LSERS
244
Louisiana State Employees Retirement System
Louisiana
$1.08M -$17.3K -700 -2%
BMCMI
245
Bryn Mawr Capital Management Inc
Pennsylvania
$1.08M +$1.06M +42,712 New
NI
246
Numeric Investors
Massachusetts
$1.05M +$1.02M +41,300 New
TMAM
247
Tokio Marine Asset Management
Japan
$1.04M – – –
MAM
248
Martingale Asset Management
Massachusetts
$1.04M +$96.7K +3,903 +10%
CAM
249
Capstone Asset Management
Texas
$1.04M -$305K -12,294 -23%
Zurich Cantonal Bank
250
Zurich Cantonal Bank
Switzerland
$1.04M +$93.4K +3,770 +10%
8 9
10
11 12

PGR Hedge Fund Activity: Q2 2014 in Review

420 of the 3,479 institutional investors tracked by Wall St. Rank reported a position in Progressive (PGR) for Q2 2014, worth a combined $10.9B — up 0.09% from $10.9B a quarter earlier.

Buyers outnumbered sellers: 58 funds opened new PGR positions and 28 closed out — a net gain of 30 holders — while 127 added to existing stakes and 161 trimmed.

The largest buyer was Pzena Investment Management, adding an estimated $69.2M. The largest seller was Davis Selected Advisers, cutting an estimated $670M.

  • 420 institutional investors held Progressive (PGR) as of Q2 2014, up from 394 in Q1 2014.
  • Funds reported $10.9B of Progressive stock for Q2 2014, up 0.09% quarter-over-quarter.
  • 58 funds opened new Progressive positions in Q2 2014 and 28 closed out, a net change of +30 holders.
  • The largest Progressive buyer in Q2 2014 was Pzena Investment Management, an estimated $69.2M added.
  • The largest Progressive seller in Q2 2014 was Davis Selected Advisers, an estimated $670M sold.

Based on aggregated 13F filings for Q2 2014.