The Progressive Corporation
MX ˙ BMV ˙ US7433151039
SecurityMX:PGR / The Progressive Corporation
InstitutionBaird Financial Group, Inc.
Latest Disclosed Ownership4,139,552 shares
Latest Disclosed Value $ 820,624,734
Baird Financial Group, Inc. reports 6.76% increase in ownership of PGR / The Progressive Corporation

On May 14, 2026 - Baird Financial Group, Inc. filed a 13F-HR form disclosing ownership of 4,139,552 shares of The Progressive Corporation (MX:PGR) valued at $820,624,734 USD as of March 31, 2026. The entity filed a previous 13F-HR on February 13, 2026 disclosing 3,877,430 shares of The Progressive Corporation. This represents a change in shares of 6.76% during the quarter.

Institutional Ownership: 13F and NPORT Filings

The Security and Class in the table below are shown exactly as filed by the investor. We do our best to track continuity of investments through acquisitions, and this will be reflected in the table as changes in names. In addition to descriptive data, performance of the investment is shown over time. To calculate quarterly performance, we first calculate cost basis of the shares purchased during the quarter, then use that to calculate gross profit. Quarterly return is Gross Profit / Starting Portfolio value.

Note that cost basis is calculated and stored in thousands, so small quarterly changes in shares frequently result in a cost basis of zero.

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Disclosed Equity Positions (from 13F/NPORT Filings)
File
Date		 Effective
Date		Form Security Class ID Avg Price
Paid (Est)		 Reported
Shares		 ΔShares ΔShares
(%)		 Reported
Value
(x1000)		 ΔValue
(%)		 Alloc
(%)		 ΔAlloc ΔAlloc (%) Cost Basis
(x1000)		 Unrealized
Gain/Loss
(x1000)
2026-05-14 2026-03-31 13F PROGRESSIVE COM 743315103 4,139,552 262,122 6.76 820,625 -7.06 0.6899
2026-02-13 2025-12-31 13F PROGRESSIVE CORP COM COMMON 743315103 3,877,430 127,943 3.41 882,968 -4.64 1.3764
2025-11-13 2025-09-30 13F PROGRESSIVE CORP COM COMMON 743315103 3,749,487 192,799 5.42 925,936 -2.44 1.4890
2025-08-13 2025-06-30 13F PROGRESSIVE CORP COM COMMON 743315103 3,556,688 157,593 4.64 949,138 -1.33 1.6643
2025-05-15 2025-03-31 13F PROGRESSIVE CORP COM COMMON 743315103 3,399,095 -268,808 -7.33 961,978 9.46 1.8522
2025-02-14 2024-12-31 13F PROGRESSIVE CORP OHIO COMMON 743315103 3,667,903 111,659 3.14 878,866 -2.61 1.6808
2024-11-14 2024-09-30 13F PROGRESSIVE CORP OH COMMON 743315103 3,556,244 70,832 2.03 902,433 24.65 1.7525
2024-08-14 2024-06-30 13F PROGRESSIVE CORP OHIO COMMON 743315103 3,485,412 -186,527 -5.08 723,955 -4.67 1.5018
2024-05-14 2024-03-31 13F PROGRESSIVE CORP OHIO COMMON 743315103 3,671,939 94,208 2.63 759,430 33.27 1.5924
2024-02-14 2023-12-31 13F PROGRESSIVE CORP OHIO COMMON 743315103 3,577,731 86,686 2.48 569,861 17.18 1.2987
2023-11-13 2023-09-30 13F PROGRESSIVE CORP OHIO COMMON 743315103 3,491,045 81,183 2.38 486,303 7.74 1.3264
2023-08-11 2023-06-30 13F PROGRESSIVE CORP OHIO COMMON 743315103 3,409,862 -1,102,998 -24.44 451,363 -30.09 1.1913
2023-05-15 2023-03-31 13F PROGRESSIVE CORP OHIO COMMON 743315103 4,512,860 125,754 2.87 645,610 113,363.80 1.5926
2023-02-13 2022-12-31 13F PROGRESSIVE CORP OHIO COMMON 743315103 4,387,106 892,815 25.55 569 -99.86 1.4985
2022-11-15 2022-09-30 13F PROGRESSIVE CORP OHIO COMMON 743315103 3,494,291 69,318 2.02 406,072 1.97 1.1965
2022-08-08 2022-06-30 13F PROGRESSIVE CORP OHIO COMMON 743315103 3,424,973 6,339 0.19 398,222 2.19 1.1055
2022-05-13 2022-03-31 13F PROGRESSIVE CORP OHIO COMMON 743315103 3,418,634 76,382 2.29 389,691 13.59 0.9629
2022-02-09 2021-12-31 13F PROGRESSIVE CORP OH COM COMMON 743315103 3,342,252 36,800 1.11 343,082 14.83 0.8021
2021-11-12 2021-09-30 13F PROGRESSIVE CORP OH COM COMMON 743315103 3,305,452 38,006 1.16 298,780 -6.89 0.7642
2021-08-11 2021-06-30 13F PROGRESSIVE CORP OH COM COMMON 743315103 3,267,446 20,257 0.62 320,896 3.36 0.8340
2021-05-13 2021-03-31 13F PROGRESSIVE CORP OH COM COMMON 743315103 3,247,189 76,759 2.42 310,464 -0.97 0.8707
2021-02-11 2020-12-31 13F PROGRESSIVE CORP OH COM COMMON 743315103 3,170,430 21,674 0.69 313,492 5.17 0.9371
2020-11-12 2020-09-30 13F PROGRESSIVE CORP OH COM COMMON 743315103 3,148,756 19,389 0.62 298,093 18.91 1.0213
2020-10-22 2020-06-30 13F/A-1 PROGRESSIVE CORP OH COM COMMON 743315103 3,129,367 146,661 4.92 250,694 13.83 0.9444
2020-08-14 2020-06-30 13F PROGRESSIVE CORP OH COM COMMON 743315103 2,886,105 -96,601 225,434 446,758.9701
2020-05-14 2020-03-31 13F PROGRESSIVE CORP OH COM COMMON 743315103 2,982,706 403,518 15.65 220,243 17.96 1.0058
2020-02-14 2019-12-31 13F PROGRESSIVE CORP OH COM COMMON 743315103 2,579,188 -6,954 -0.27 186,708 -6.54 0.6702
2019-11-14 2019-09-30 13F PROGRESSIVE CORP OHIO Common 743315103 2,586,142 81,003 3.23 199,779 -0.23 0.7869
2019-08-14 2019-06-30 13F PROGRESSIVE CORP OHIO COMMON 743315103 2,505,139 2,478,696 9,373.73 200,236 10,405.56 0.7786
2019-05-14 2019-03-31 13F PROGRESSIVE CORP OHIO COMMON 743315103 26,443 4,662 21.40 1,906 45.05 0.0111
2019-02-14 2018-12-31 13F PROGRESSIVE CORP OHIO COMMON 743315103 21,781 18,836 639.59 1,314 531.73 0.0089
2018-11-13 2018-09-30 13F Progressive COMMON 743315103 2,945 2,945 208 0.0013
2018-08-13 2018-06-30 13F PROGRESSIVE CORP OHIO COMMON 743315103 0 -4,487 -100.00 0 -100.00
2018-05-14 2018-03-31 13F PROGRESSIVE CORP OHIO COMMON 743315103 4,487 4,487 273 0.0019
2016-11-10 2016-09-30 13F PROGRESSIVE CORP OHIO COMMON 743315103 0 -60,676 -100.00 0 -100.00
2016-08-11 2016-06-30 13F PROGRESSIVE CORP OHIO COMMON 743315103 60,676 -10,036 -14.19 2,033 -18.19 0.0186
2016-05-12 2016-03-31 13F PROGRESSIVE CORP OHIO COMMON 743315103 70,712 -10,811 -13.26 2,485 -4.13 0.0238
2016-02-11 2015-12-31 13F PROGRESSIVE CORP OHIO COMMON 743315103 81,523 3,914 5.04 2,592 9.00 0.0259
2015-11-12 2015-09-30 13F PROGRESSIVE CORP OHIO COMMON 743315103 77,609 -13,959 -15.24 2,378 -6.71 0.0253
2015-08-14 2015-06-30 13F PROGRESSIVE CORP OHIO COMMON 743315103 91,568 91,568 2,549 0.0251
Legend
Shares
The total number of shares held by the institution at the end of the reporting period (the effective date). This is provided in the filing.
Value
The total value of the shares as of the effective date. This is provided in the filing.
Avg. Share Price
The weighted average share price of the shares held by the institution. We use FIFO accounting to determine this price
Class
This is the security class as indicated by the filer. There are a variety of values for this field. Common values include "EC" = equity common, "EP" - equity preferred
Allocation (%)
The percent of the institution's portfolio that this position represents. This is provided in NPORT filings. For 13F filings, we calculate it.
Change in Allocation
The change in allocation from the prior reporting period. This is calculated as current allocation - prior allocation.
Change in Allocation (%)
The percent change in allocation from the prior reporting period. This is calculated as (current allocation - prior allocation) / prior allocation.
Cost Basis
The total cost of the shares held. This is calculated as reported shares * avg. share price
Unrealized Gain/Loss
This is the market value of the position as of the effective date minus the cost basis.