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Progressive

PGR

Market cap $119B

426 hedge funds and large institutions have $11.3B invested in Progressive in 2014 Q3 according to their latest regulatory filings, with 43 funds opening new positions, 138 increasing their positions, 170 reducing their positions, and 33 closing their positions.

New

Increased

Maintained

Reduced

Closed

30% more first-time investments, than exits

New positions opened: 43 | Existing positions closed: 33

17% more funds holding in top 10

Funds holding in top 10: 6 → 7 (+1)

2.9% more ownership

Funds ownership: 72.87% → 75.77% (+2.9%)

1% more funds holding

Funds holding: 420 → 426 (+6)

3% more capital invested

Capital invested by funds: $10.9B → $11.3B (+$342M)

3% less call options, than puts

Call options by funds: $5.77M | Put options by funds: $5.97M

19% less repeat investments, than reductions

Existing positions increased: 138 | Existing positions reduced: 170

Holders

426

Holders Change

Holders Change %

+1.43%

% of All Funds

12.36%

Holding in Top 10

Holding in Top 10 Change

Holding in Top 10 Change %

+16.67%

% of All Funds

0.2%

New

Increased

138

Reduced

170

Closed

Calls

$5.77M

Puts

$5.97M

Net Calls

-$206K

Net Calls Change

+$1.9M

Top Buyers

1	FMI Fiduciary Management Inc Milwaukee, Wisconsin	+$492M
2	JP Morgan Chase New York	+$195M
3	Primecap Management Pasadena, California	+$67.5M
4	Neuberger Berman Group New York	+$66.3M
5	Victory Capital Management San Antonio, Texas	+$45.1M

Top Sellers

1	JSP Jackson Square Partners Larkspur, California	-$301M
2	Mackenzie Financial Toronto Ontario, Ontario, Canada	-$140M
3	Macquarie Group Sydney, NSW 2000, Australia	-$96.6M
4	Capital Research Global Investors Los Angeles, California	-$95.6M
5	Aristotle Capital Management Los Angeles, California	-$77.3M

#	Name	Holding	Trade Value	Shares Change	Change in Stake
26	CCM 26 Causeway Capital Management Los Angeles, California	$85.3M	+$1.97M	+79,900	+3%
27	27 Two Sigma Advisers New York	$85.2M	+$37.4M	+1,517,700	+82%
28	28 Baillie Gifford & Co Edinburgh, United Kingdom	$79.7M	-$7.13M	-289,552	-8%
29	MCI 29 McDonald Capital Investors Orinda, California	$76.5M	-$283K	-11,475	-0.4%
30	30 Mackenzie Financial Toronto Ontario, Ontario, Canada	$72.4M	-$140M	-5,689,369	-67%
31	31 Primecap Management Pasadena, California	$69.3M	+$67.5M	+2,740,700	New
32	TCM 32 Tran Capital Management San Rafael, California	$67M	-$4.52M	-183,365	-6%
33	33 Fidelity Investments Boston, Massachusetts	$65.4M	+$21.9M	+887,609	+52%
34	34 Legal & General Group London, United Kingdom	$63.3M	+$900K	+36,511	+1%
35	35 Norges Bank Oslo, Norway	$59.3M	-$57.8M	-2,345,425	-50%
36	TCIM 36 TIAA CREF Investment Management New York	$51.5M	-$6.65M	-269,962	-12%
37	PI 37 PGGM Investments Zeist, Netherlands	$51.2M	+$2.04M	+82,823	+4%
38	38 California Public Employees Retirement System Sacramento, California	$50.8M	-$2.27M	-92,200	-4%
39	39 Mitsubishi UFJ Trust & Banking Tokyo, Japan	$50M	-$26.7M	-1,081,970	-35%
40	HCM 40 Highbridge Capital Management New York	$48.5M	+$16.4M	+663,542	+53%
41	41 UBS AM Chicago, Illinois	$47.4M	-$2.19M	-89,081	-5%
42	42 Victory Capital Management San Antonio, Texas	$46.2M	+$45.1M	+1,829,100	New
43	43 Dimensional Fund Advisors Austin, Texas	$44.7M	+$8.7M	+353,125	+25%
44	44 EARNEST Partners Atlanta, Georgia	$43.9M	-$1.79M	-72,529	-4%
45	45 New York State Common Retirement Fund Albany, New York	$42.1M	+$1.95M	+79,014	+5%
46	TFP 46 Triple Frond Partners San Francisco, California	$40.7M	–	–	–
47	CS 47 Credit Suisse Zurich, Switzerland	$38.6M	+$2.08M	+84,474	+6%
48	48 Sumitomo Mitsui Trust Group Minato-Ku, Tokyo, Japan	$34.5M	-$874K	-35,470	-3%
49	49 Charles Schwab San Francisco, California	$34.4M	+$1.09M	+44,348	+3%
50	RFC 50 Russell Frank Company Seattle, Washington	$33.6M	+$10.1M	+407,904	+44%