Progressive
PGR
1,188 hedge funds and large institutions have $71.6B invested in Progressive in 2023 Q1 according to their latest regulatory filings, with 127 funds opening new positions, 434 increasing their positions, 456 reducing their positions, and 88 closing their positions.
44% more first-time investments, than exits
New positions opened: 127 | Existing positions closed: 88
11% more capital invested
Capital invested by funds: $64.3B → $71.6B (+$7.32B)
9% more funds holding in top 10
Funds holding in top 10: 53 → 58 (+5)
1% more funds holding
Funds holding: 1,171 → 1,188 (+17)
0.77% more ownership
Funds ownership: 84.74% → 85.51% (+0.77%)
1% less call options, than puts
Call options by funds: $249M | Put options by funds: $252M
5% less repeat investments, than reductions
Existing positions increased: 434 | Existing positions reduced: 456
Top Buyers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
Fidelity Investments
Boston,
Massachusetts
|
+$435M |
| 2 |
DZ Bank
Frankfurt Am Main,
Germany
|
+$369M |
| 3 |
Neuberger Berman Group
New York
|
+$194M |
| 4 |
Brown Advisory
Baltimore,
Maryland
|
+$185M |
| 5 |
Invesco
Atlanta,
Georgia
|
+$108M |
Top Sellers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
CB
Cooke & Bieler
Philadelphia,
Pennsylvania
|
-$206M |
| 2 |
State Street
Boston,
Massachusetts
|
-$160M |
| 3 |
OAG
Orbis Allan Gray
Hamilton,
Bermuda
|
-$125M |
| 4 |
Victory Capital Management
San Antonio,
Texas
|
-$123M |
| 5 |
T. Rowe Price Associates
Baltimore,
Maryland
|
-$108M |
PGR Hedge Fund Activity: Q1 2023 in Review
1,188 of the 6,283 institutional investors tracked by Wall St. Rank reported a position in Progressive (PGR) for Q1 2023, worth a combined $71.6B — up 11% from $64.3B a quarter earlier.
Buyers outnumbered sellers: 127 funds opened new PGR positions and 88 closed out — a net gain of 39 holders — while 434 added to existing stakes and 456 trimmed.
The largest buyer was Fidelity Investments, adding an estimated $435M. The largest seller was Cooke & Bieler, cutting an estimated $206M.
- 1,188 institutional investors held Progressive (PGR) as of Q1 2023, up from 1,171 in Q4 2022.
- Funds reported $71.6B of Progressive stock for Q1 2023, up 11% quarter-over-quarter.
- 127 funds opened new Progressive positions in Q1 2023 and 88 closed out, a net change of +39 holders.
- The largest Progressive buyer in Q1 2023 was Fidelity Investments, an estimated $435M added.
- The largest Progressive seller in Q1 2023 was Cooke & Bieler, an estimated $206M sold.
Based on aggregated 13F filings for Q1 2023.