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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
LPL Financial
126
LPL Financial
California
$3.02M +$284K +1,655 +11%
MOACM
127
Mutual of America Capital Management
New York
$3M -$230K -1,340 -8%
Robeco Institutional Asset Management
128
Robeco Institutional Asset Management
Netherlands
$3M -$332K -1,935 -10%
AB
129
Amalgamated Bank
New York
$2.99M -$10.6K -62 -0.4%
AG
130
Algert Global
California
$2.96M +$425K +2,480 +18%
Treasurer of the State of North Carolina
131
Treasurer of the State of North Carolina
North Carolina
$2.92M -$108K -632 -4%
PFSRSONJ
132
Police & Firemen's Retirement System of New Jersey
New Jersey
$2.92M +$401K +2,340 +17%
Deutsche Bank
133
Deutsche Bank
Germany
$2.84M +$212K +1,234 +9%
SOADOR
134
State of Alaska Department of Revenue
Alaska
$2.78M -$20.6K -120 -0.8%
HSBC Holdings
135
HSBC Holdings
United Kingdom
$2.73M -$1.34M -7,816 -34%
Focus Partners Wealth
136
Focus Partners Wealth
Massachusetts
$2.66M +$169K +985 +7%
State of Tennessee, Department of Treasury
137
State of Tennessee, Department of Treasury
Tennessee
$2.62M – – –
PIM
138
Pullen Investment Management
Florida
$2.61M +$355K +2,073 +17%
LG
139
Leuthold Group
Minnesota
$2.58M +$81.9K +478 +3%
Citigroup
140
Citigroup
New York
$2.55M +$662K +3,859 +38%
LBC
141
Lowe Brockenbrough & Co
Virginia
$2.52M -$15.4K -90 -0.6%
VI
142
Vestcor Inc
New Brunswick, Canada
$2.5M -$910K -5,310 -28%
Lazard Asset Management
143
Lazard Asset Management
New York
$2.44M +$112K +653 +5%
Nisa Investment Advisors
144
Nisa Investment Advisors
Missouri
$2.44M +$3.26K +19 +0.1%
A
145
AlphaQuest
New York
$2.41M +$1.94M +11,291 +563%
LTAS
146
Linden Thomas Advisory Services
North Carolina
$2.41M +$67.9K +396 +3%
HF
147
HRT Financial
New York
$2.33M +$403K +2,348 +22%
FDCDDQ
148
Federation des caisses Desjardins du Quebec
Quebec, Canada
$2.32M – – –
State of New Jersey Common Pension Fund D
149
State of New Jersey Common Pension Fund D
New Jersey
$2.22M +$9.26K +54 +0.4%
Ohio Public Employees Retirement System (OPERS)
150
Ohio Public Employees Retirement System (OPERS)
Ohio
$2.18M +$11.3K +66 +0.6%
4 5
6
7 8

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.