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Hanover Insurance
THG

459 hedge funds and large institutions have $5.7B invested in Hanover Insurance in 2025 Q3 according to their latest regulatory filings, with 66 funds opening new positions, 173 increasing their positions, 143 reducing their positions, and 35 closing their positions.

New
Increased
Maintained
Reduced
Closed

89% more first-time investments, than exits

New positions opened: 66 | Existing positions closed: 35

21% more repeat investments, than reductions

Existing positions increased: 173 | Existing positions reduced: 143

6% more funds holding

Funds holding: 432 → 459 (+27)

4% more capital invested

Capital invested by funds: $5.48B → $5.7B (+$219M)

0% more funds holding in top 10

Funds holding in top 10: 1 → 1 (0)

2.13% less ownership

Funds ownership: 89.84% → 87.71% (-2.1%)

41% less call options, than puts

Call options by funds: $5.94M | Put options by funds: $10.1M

Holders
459
Holders Change
+27
Holders Change %
+6.25%
% of All Funds
6.02%
Holding in Top 10
1
Holding in Top 10 Change
–
Holding in Top 10 Change %
–
% of All Funds
0.01%
New
66
Increased
173
Reduced
143
Closed
35
Calls
$5.94M
Puts
$10.1M
Net Calls
-$4.2M
Net Calls Change
-$4.24M

Top Buyers

1
AQR Capital Management
AQR Capital Management
Connecticut
+$35.9M
2
Balyasny Asset Management
Balyasny Asset Management
Illinois
+$33.7M
3
Invesco
Invesco
Georgia
+$28.4M
4
First Trust Advisors
First Trust Advisors
Illinois
+$24.3M
5
William Blair Investment Management
William Blair Investment Management
Illinois
+$24M

Top Sellers

1
Franklin Resources
Franklin Resources
California
-$89.5M
2
Adage Capital Partners
Adage Capital Partners
Massachusetts
-$61.7M
3
Victory Capital Management
Victory Capital Management
Texas
-$22.6M
4
T. Rowe Price Investment Management
T. Rowe Price Investment Management
Maryland
-$21.2M
5
Allspring Global Investments
Allspring Global Investments
North Carolina
-$21.2M
Name Holding Trade Value Shares
Change 		Change in
Stake
N
251
Natixis
France
$478K +$451K +2,629 New
SAM
252
Securian Asset Management
Minnesota
$477K -$17.1K -100 -4%
KeyBank National Association
253
KeyBank National Association
Ohio
$474K -$76.8K -448 -15%
P
254
Pitcairn
Pennsylvania
$474K -$154K -898 -26%
Two Sigma Advisers
255
Two Sigma Advisers
New York
$472K -$206K -1,200 -32%
TPI
256
Trust Point Inc
Wisconsin
$461K +$5.31K +31 +1%
AA
257
ALPS Advisors
Colorado
$460K +$434K +2,530 New
BHCM
258
Brevan Howard Capital Management
Jersey
$457K -$501K -2,920 -54%
BC
259
Bayforest Capital
United Kingdom
$442K -$179K -1,042 -30%
M&T Bank
260
M&T Bank
New York
$434K -$90.3K -527 -18%
KAS
261
Kestra Advisory Services
Texas
$434K +$38.1K +222 +10%
Truist Financial
262
Truist Financial
North Carolina
$432K +$21.3K +124 +5%
Janney Montgomery Scott
263
Janney Montgomery Scott
Pennsylvania
$431K +$407K +2,375 New
AC
264
Armistice Capital
New York
$426K +$403K +2,348 New
Bank of Nova Scotia
265
Bank of Nova Scotia
Ontario, Canada
$424K +$400K +2,332 New
BAM
266
Blueshift Asset Management
New Jersey
$404K +$381K +2,223 New
JF
267
Jump Financial
Illinois
$401K +$379K +2,208 New
B
268
Bailard
California
$400K – – –
SC
269
Syon Capital
California
$399K +$377K +2,197 New
PAM
270
Panagora Asset Management
Massachusetts
$389K -$152K -884 -29%
WIA
271
World Investment Advisors
California
$384K – – –
P
272
&Partners
Tennessee
$382K +$3.77K +22 +1%
Renaissance Technologies
273
Renaissance Technologies
New York
$381K -$1.71M -10,000 -83%
GC
274
Grimes & Company
Massachusetts
$379K +$1.37K +8 +0.4%
VT
275
Vise Technologies
New York
$377K +$131K +763 +58%
9 10
11
12 13

THG Hedge Fund Activity: Q3 2025 in Review

459 of the 7,619 institutional investors tracked by Wall St. Rank reported a position in Hanover Insurance (THG) for Q3 2025, worth a combined $5.7B — up 4% from $5.48B a quarter earlier.

Buyers outnumbered sellers: 66 funds opened new THG positions and 35 closed out — a net gain of 31 holders — while 173 added to existing stakes and 143 trimmed.

The largest buyer was AQR Capital Management, adding an estimated $35.9M. The largest seller was Franklin Resources, cutting an estimated $89.5M.

  • 459 institutional investors held Hanover Insurance (THG) as of Q3 2025, up from 432 in Q2 2025.
  • Funds reported $5.7B of Hanover Insurance stock for Q3 2025, up 4% quarter-over-quarter.
  • 66 funds opened new Hanover Insurance positions in Q3 2025 and 35 closed out, a net change of +31 holders.
  • The largest Hanover Insurance buyer in Q3 2025 was AQR Capital Management, an estimated $35.9M added.
  • The largest Hanover Insurance seller in Q3 2025 was Franklin Resources, an estimated $89.5M sold.

Based on aggregated 13F filings for Q3 2025.