Billionaire Louis Bacon’s Top 10 Long-Term Stock Picks

Page 4 of 10

7. The Progressive Corporation (NYSE:PGR)

Number of Hedge Fund Holders: 95  

Moore Global Investments’ Stake: $20.4 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. There are several key elements that position this company as an exceptional choice for investors. Firstly, as per the reports of the third quarter of 2024, the reported revenue was $19.7 billion, up 27% from the third quarter of 2023, and net income was $2.35 billion, up 112% from the third quarter of 2023. Secondly, the company’s continued growth in insurance led to more than 10,000 open roles in 2024.

Page 4 of 10