What smart money is saying about Progressive Corporation
3 funds in our archive have pitched Progressive Corporation, most recently Brown Advisory Global Leaders Strategy in June 2026.
The Progressive Corporation, an insurance holding company, offers a comprehensive range of insurance products and associated services across the United States. Its portfolio includes personal and commercial vehicle coverage, residential and commercial property protection, general liability, and various other specialized property-casualty insurance options. The company's operations are structured into three main divisions: Personal Lines, Commercial Lines, and Property. Within the Personal Lines segment, Progressive provides coverage for individual automobiles and recreational vehicles. Offerings range from standard personal auto policies to specialized options for motorcycles, all-terrain vehicles (ATVs), RVs, watercraft, snowmobiles, and similar forms of personal transport. The Commercial Lines division focuses on providing primary liability and physical damage insurance for business vehicles, alongside general liability and property insurance tailored for commercial applications. This segment insures a diverse array of vehicles, including cars, vans, pickup trucks, and dump trucks for small businesses; tractors, trailers, and straight trucks for regional freight, expedited shipping, and long-haul transport companies; heavy-duty vehicles like dump trucks, log trucks, and garbage trucks used in industries such as construction, logging, and mining; and tow trucks and wreckers for towing and service stations, as well as various non-fleet taxis and premium car services. The Property segment offers residential insurance solutions for homeowners, other property owners, and renters. Its portfolio further extends to include personal umbrella policies and both primary and excess flood insurance. Beyond underwriting, the company facilitates policy issuance and claims adjusting. It also serves as an agent for various additional insurance products, such as homeowner general liability and workers' compensation, and provides reinsurance services. Progressive's products are distributed through independent insurance agencies, as well as directly to consumers via its online platforms (including mobile access) and telephone channels. Established in 1937, The Progressive Corporation maintains its headquarters in Mayfield, Ohio.
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Fund signal · last 12 months
14 lettersMore funds are buying than selling
Moves described in fund letters in our archive. A sentence published word for word by several funds of one house in the same quarter counts once.
Position history
Between Q4 2024 and Q3 2026, 20 fund letters reported a position in Progressive Corporation, with 4 buys (opened or added) and 3 sells (trimmed or exited).
| Quarter | Letters | Bought | Sold | Theses |
|---|---|---|---|---|
| Q3 2026 | 4 | 0 | 0 | 0 |
| Q2 2026 | 8 | 4 | 0 | 1 |
| Q1 2026 | 2 | 0 | 2 | 0 |
| Q3 2025 | 2 | 0 | 1 | 1 |
| Q2 2025 | 4 | 0 | 0 | 0 |
| Q4 2024 | 0 | 0 | 0 | 1 |
Bought and Sold count moves: the same sentence published by several funds of one house in a quarter counts once.
Fund activity · 20 positions · 8 moves
- September 2026
Listed in Middle Coast Investing Equity Portfolios’s reported holdings.
Progressive Corporation - HoldsBretton FundSeptember 2026
Listed in Bretton Fund’s reported holdings.
Progressive Corporation - September 2026
Listed in Harding Loevner Global Developed Markets Equity’s reported holdings.
Progressive Corporation - HoldsGoodHaven FundJuly 2026
“Contributors (11/30/2025- 05/31/2026) Detractors (11/30/2025 – 05/31/2026) Arrow Electronics, Inc. Builders FirstSource, Inc. . Alphabet Inc. - Class C Lennar Corp - Class B TerraVest Industries Berkshire Hathaway - Class B Devon Energy KKR & Co. Occidental Petroleum Corp Wt Exp 080327 Progressive Corp.”
Progressive Corporation - June 2026
Listed in Harding Loevner Global Equity’s reported holdings.
Progressive Corporation - June 2026
“We have had the opportunity to invest in a couple of new businesses this quarter, and the great opportunity to invest more in some of our current holdings. We increased our stakes in AutoZone, CME Group, and Progressive. We also made a new investment in McKesson Corporation and had other smaller purchases.”
Progressive Corporation - June 2026
“Stocks in our portfolio affected – Progressive Corporation (PGR) , COF, F&G Annuities & Life (FG) , Corpay (CPAY) , SCHW, Berkshire Hathaway (BRKB) , Pagseguro (PAGS) , TFS Financial (TFSL) , S&P Global (SPGI) , JP Morgan (JPM) , Travelers Cos (TRV) .”
Progressive Corporation - June 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.”
Progressive Corporation - June 2026
“In June, we bought more Progressive at $205.”
Progressive Corporation - New positionBrown Advisory Global Leaders Sustainable FundJune 2026
“ We initiated a position in Progressive Corporation in June.”
Progressive Corporation - New positionBrown Advisory Global Leaders StrategyJune 2026
“ We initiated a position in Progressive Corporation in June.”
Progressive Corporation - May 2026
“ By geography, our weakest relative performance was in the US. There and globally, most of our underperformance has been in IT. Several of our Financials holdings lagged during the month. Despite reporting positive results, insurers RGA and Progressive both fell, as did electronic trading platform Tradeweb.”
Progressive Corporation - 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.”
Progressive Corporation - March 2026
“ The Strategy’s sector positioning did not change meaningfully during the first quarter. 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.”
Progressive Corporation - TrimmedBaron FinTech FundSeptember 2025
“We trimmed The Progressive Corporation and Arch Capital Group Ltd. to limit our insurance industry exposure in a softening market cycle.”
Progressive Corporation - September 2025
Listed in RiverPark Next Century Large Growth Fund’s reported holdings.
Progressive Corporation - June 2025
“Many of our best performing names from the first quarter suffered the inverse fate in the second quarter, as Progressive (PGR), Arthur Gallagher (AJG), and Intuitive Surgical (ISRG) were all among the top detractors to absolute returns during the period.”
Progressive Corporation - June 2025
“The Progressive Corp. shares declined nearly 6% during the quarter.”
Progressive Corporation - June 2025
“Our insurance holdings, including Arch Capital Group and Progressive, which performed strongly in the first quarter, underperformed the strong equity market in the second quarter.”
Progressive Corporation - June 2025
“Progressive Corporation (PGR), one of the largest property and casualty insurance companies in the U.S., traded down during the quarter alongside other insurance companies but remains one of the top contributors to performance year-to-date.”
Progressive Corporation
Also mentioned · 5
These funds discuss Progressive Corporation as a competitor, benchmark or comparable, without disclosing a position in it.
- MentionedArtisan Partners Global Value FundJune 2026
“Consumers used to buy auto and home insurance from insurance agents. Then Progressive Insurance and GEICO started selling those policies directly, bypassing insurance agents.”
Progressive Corporation - June 2026
“Then Progressive Insurance and GEICO started selling those policies directly, bypassing insurance agents.”
Progressive Corporation - June 2026
“The direct insurance model has been around for decades, enabled by the Internet. Consumers used to buy auto and home insurance from insurance agents. Then Progressive Insurance and GEICO started selling those policies directly, bypassing insurance agents.”
Progressive Corporation - MentionedHL Global EquityMay 2026
“ By geography, our weakest relative performance was in the US. There and globally, most of our underperformance has been in IT. Several of our Financials holdings lagged during the month. Despite reporting positive results, insurers RGA and Progressive both fell, as did electronic trading platform Tradeweb.”
Progressive Corporation - MentionedThe GoodHaven FundDecember 2025
“Progressive Corporation two years ago was trading at an implied 9x 2025E earnings, and Bank of America was trading at 8x 2025E earnings.”
Progressive Corporation
Fund coverage · 3 theses
Progressive Corporation is a leading US auto insurer with scale, data-driven market-share gains, and attractive long-term return potential.
Read the full thesis- 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.
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