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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
VAM
251
Visium Asset Management
New York
$1.03M +$1M +40,559 New
ERSOT
252
Employees Retirement System of Texas
Texas
$989K -$347K -14,000 -26%
N
253
Nuveen
North Carolina
$974K -$83K -3,351 -8%
WBC
254
Westpac Banking Corp
Australia
$969K -$7.98K -322 -0.8%
DP
255
Dearborn Partners
Illinois
$953K – – –
KT
256
Kanaly Trust
Texas
$898K -$253K -10,220 -22%
BMO
257
Beck Mack & Oliver
New York
$875K – – –
Natixis Advisors
258
Natixis Advisors
Massachusetts
$857K -$31.8K -1,285 -4%
RJT
259
Raymond James Trust
Florida
$857K -$9.94K -401 -1%
KBC Group
260
KBC Group
Belgium
$848K -$60.5K -2,442 -7%
CG
261
Clinton Group
New York
$800K +$90.3K +3,645 +13%
PP
262
Paloma Partners
Connecticut
$798K +$780K +31,481 New
DnB Asset Management
263
DnB Asset Management
Norway
$787K +$769K +31,025 New
EWM
264
Evercore Wealth Management
New York
$752K -$198K -8,005 -21%
SIM
265
Sentry Investment Management
Wisconsin
$749K -$53.7K -2,166 -7%
RFC
266
Regions Financial Corp
Alabama
$749K -$32.5K -1,313 -4%
Renaissance Technologies
267
Renaissance Technologies
New York
$741K -$13.1M -529,034 -95%
T
268
TradeWorx
New Jersey
$720K +$703K +28,392 New
WIL
269
Winifred I. Li
$711K +$695K +28,050 New
AA
270
Ancora Advisors
Ohio
$700K +$64.5K +2,603 +10%
SO
271
STRS Ohio
Ohio
$679K – – –
HNB
272
Huntington National Bank
Ohio
$669K -$24.8K -1,000 -4%
Bessemer Group
273
Bessemer Group
New Jersey
$643K -$47.6K -1,921 -7%
HK
274
Horizon Kinetics
New York
$632K -$264K -10,672 -30%
CIA
275
Choate Investment Advisors
Massachusetts
$604K – – –
9 10
11
12 13

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.