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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
HIA
451
HFM Investment Advisors
New Jersey
$545 -$171 -1 -25%
CH
452
Cromwell Holdings
Wyoming
$545 – – –
HFS
453
Hughes Financial Services
Virginia
$545 – – –
HWA
454
Heartwood Wealth Advisors
Virginia
$545 +$514 +3 New
TIM
455
Tortoise Investment Management
New York
$363 – – –
TFM
456
TFC Financial Management
Massachusetts
$182 – – –
PG
457
Proffitt & Goodson
Tennessee
$182 +$171 +1 New
TPBG
458
Turning Point Benefit Group
Maryland
$181 +$171 +1 New
Norges Bank
459
Norges Bank
Norway
– -$77.2M -454,280 Closed
PFMOSF
460
Philadelphia Financial Management of San Francisco
California
– -$6.25M -36,766 Closed
KWM
461
Kingsview Wealth Management
Oregon
– -$2.3M -13,559 Closed
IIM
462
INTECH Investment Management
Florida
– -$1.73M -10,178 Closed
Impax Asset Management Group
463
Impax Asset Management Group
United Kingdom
– -$1.71M -10,074 Closed
WG
464
Winton Group
United Kingdom
– -$1.29M -7,577 Closed
Holocene Advisors
465
Holocene Advisors
New York
– -$801K -4,718 Closed
VF
466
Virtu Financial
New York
– -$794K -4,675 Closed
HIS
467
Harvest Investment Services
Illinois
– -$614K -3,616 Closed
OTPPB
468
Ontario Teachers' Pension Plan Board
Ontario, Canada
– -$596K -3,509 Closed
BMCM
469
Burns Matteson Capital Management
New York
– -$463K -2,728 Closed
XT
470
XTX Topco
Cayman Islands
– -$401K -2,361 Closed
GCM
471
Graham Capital Management
Connecticut
– -$304K -1,792 Closed
AC
472
AXQ Capital
New Jersey
– -$288K -1,696 Closed
MM
473
MQS Management
New York
– -$260K -1,532 Closed
SRL
474
Scientech Research LLC
New Jersey
– -$250K -1,469 Closed
PA
475
PharVision Advisers
Florida
– -$236K -1,391 Closed
16 17 18
19
20

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.