What smart money is saying about Progressive
2 funds in our archive have pitched Progressive — most recently Appalaches Capital in September 2025.
The Progressive Corporation, an insurance holding company, provides personal and commercial auto, personal residential and commercial property, general liability, and other specialty property-casualty insurance products and related services in the United States. It operates in three segments: Personal Lines, Commercial Lines, and Property. The Personal Lines segment writes insurance for personal autos and recreational vehicles (RV). This segment's products include personal auto insurance; and special lines products, including insurance for motorcycles, ATVs, RVs, watercrafts, snowmobiles, and related products. The Commercial Lines segment provides auto-related primary liability and physical damage insurance, and business-related general liability and property insurance for autos, vans, pick-up trucks, and dump trucks used by small businesses; tractors, trailers, and straight trucks primarily used by regional general freight and expeditor-type businesses, and long-haul operators; dump trucks, log trucks, and garbage trucks used by dirt, sand and gravel, logging, and coal-type businesses; and tow trucks and wreckers used in towing services and gas/service station businesses; as well as non-fleet and airport taxis, and black-car services. The Property segment writes residential property insurance for homeowners, other property owners, and renters, as well as offers personal umbrella insurance, and primary and excess flood insurance. The company also offers policy issuance and claims adjusting services; and acts as an agent to homeowner general liability, workers' compensation insurance, and other products. In addition, it provides reinsurance services. The company sells its products through independent insurance agencies, as well as directly on Internet through mobile devices, and over the phone. The Progressive Corporation was founded in 1937 and is headquartered in Mayfield, Ohio.
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Position history
Between Q4 2024 and Q2 2026, 7 fund letters reported a position in Progressive — 3 opened or added to the position, 2 trimmed or exited.
| Quarter | Letters | Bought | Sold | Theses |
|---|---|---|---|---|
| Q2 2026 | 5 | 3 | 0 | 0 |
| Q1 2026 | 2 | 0 | 2 | 0 |
| Q3 2025 | 0 | 0 | 0 | 1 |
| Q4 2024 | 0 | 0 | 0 | 1 |
Fund activity · 7 positions · 5 moves
- HoldsHarding Loevner Global EquityJune 2026
Listed in Harding Loevner Global Equity’s reported holdings.
Read the letterProgressive - AddedAppalaches Capital Appalaches Core LOJune 2026
“We increased our stakes in AutoZone, CME Group, and Progressive.”
Read the letterProgressive - AddedGiverny Capital Asset Management Model PortfolioJune 2026
“In June, we bought more Progressive at $205.”
Read the letterProgressive - AddedWedgewood Partners Large Cap Focused StrategyJune 2026
“During the quarter, we were unusually busy. We bought Hermès and sold Tractor Supply Company, Zoetis, and CDW. We increased positions in Chubb, Progressive, Meta, Amazon, Microsoft, and Visa. We trimmed United Rentals, Alphabet, and Taiwan Semiconductor Manufacturing.”
Read the letterProgressive - HoldsHL Global Developed Markets EquityMay 2026
“Despite reporting positive results, insurers RGA and Progressive both fell, as did electronic trading platform Tradeweb.”
Read the letterProgressive - ExitedLarge-Cap GrowthMarch 2026
“Progressive Corporation (PGR) was exited following a period of strong performance, as we identified a more compelling opportunity within insurance brokerage.”
Read the letterProgressive - TrimmedBrown Advisory Large‑Cap Sustainable GrowthMarch 2026
“The slight decrease in our absolute exposure to Financials was a function of price action and fundamentally-driven trading activity, most notably trims of Charles Schwab (SCHW) and Progressive (PGR) during the quarter.”
Read the letterProgressive
Also mentioned · 4
These funds discuss Progressive — as a competitor, benchmark or comparable — without disclosing a position in it.
- MentionedArtisan Partners Select Equity StrategyJune 2026
“Then Progressive Insurance and GEICO started selling those policies directly, bypassing insurance agents.”
Read the letterProgressive - MentionedArtisan Partners Global Value FundJune 2026
“Then Progressive Insurance and GEICO started selling those policies directly, bypassing insurance agents.”
Read the letterProgressive - MentionedArtisan Partners US Select Equity FundJune 2026
“Then Progressive Insurance and GEICO started selling those policies directly, bypassing insurance agents.”
Read the letterProgressive - MentionedHL Global EquityMay 2026
“Despite reporting positive results, insurers RGA and Progressive both fell, as did electronic trading platform Tradeweb.”
Read the letterProgressive
Fund coverage · 2 theses
- Appalaches CapitalSeptember 2025
Progressive is a leading auto insurer that leverages data and analytics to offer competitive rates and consistently profitable underwriting, positioning itself for continued growth in the market.
Read the full thesis - Fiduciary ManagementDecember 2024
Progressive Corp. is a leading auto insurer in the U.S. with strong competitive advantages and promising growth potential as the industry recovers after the pandemic.
Read the full thesis
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