Billionaire Andreas Halvorsen’s Top 15 Long-Term Stock Picks

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2. The Progressive Corporation (NYSE:PGR)

Number of Hedge Fund Holders: 95  

Viking Global’s Stake: $884.6 million 

The Progressive Corporation (NYSE:PGR) is a company that provides personal and commercial automobile insurance and other specialty property-casualty insurance products and related services. The following factors make the company a prime candidate for investment. Firstly, as per the report of the third quarter of 2024, the Personal Lines side of the business recorded $16.3 billion in NPW, which represented 29% growth over the third quarter in the prior year, driven by more new applications, an increase in renewal customers, and higher average premiums written. The extraordinary new business growth during the quarter helped PIFs grow by over 1.4 million to end the quarter with 29.3 million PIFs, or 15% more than at the end of the third quarter last year. Secondly, the company is investing heavily in technology and data analytics to refine, improve risk assessment, and enhance customer experience by using telematics to monitor driving behavior, exemplifying the company’s commitment to innovation.

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