Giverny Capital Inc.: PROGRESSIVE CORP (PGR): Quarterly 13F Position History
As of Q1 2026, Giverny Capital Inc. reported 528,364 shares of PROGRESSIVE CORP (PGR), worth $104.7M and representing 3.8% of its 13F equity book. Quarter-over-quarter share count change: 8,468 (-1.6%) . The position first appeared in Q3 2019 and has been disclosed across 27 13F-HR filings in Pactolio's tracked window.
- 528,364Shares Held (Latest Filing)
- $104.7MReported Market Value (Latest Filing)
- 3.8%Portfolio Weight (% of 13F Equity Book)
- 8,468Quarter-over-Quarter Share Change
- -$17.5MQuarter-over-Quarter Value Change
- 816,752Peak Reported Shares (Historical)
Quarterly 13F-HR Disclosure History Source: SEC 13F-HR filings, 27 quarter s
| Quarter | Shares | QoQ Share Change | Share Change (%) | Market Value | Weight | Implied Price |
|---|---|---|---|---|---|---|
| Q1 2026 | 528,364 | 8,468 | -1.6% | $104.7M | 3.8% | $198.2 |
| Q4 2025 | 536,832 | +2,943 | +0.6% | $122.2M | 4.1% | $227.7 |
| Q3 2025 | 533,889 | +13,522 | +2.6% | $131.8M | 4.0% | $246.9 |
| Q2 2025 | 520,367 | 8,787 | -1.7% | $138.9M | 4.8% | $266.9 |
| Q1 2025 | 529,154 | 16,702 | -3.1% | $149.8M | 5.5% | $283.0 |
| Q4 2024 | 545,856 | +9,163 | +1.7% | $130.8M | 4.8% | $239.6 |
| Q3 2024 | 536,693 | +1,872 | +0.4% | $136.2M | 5.2% | $253.8 |
| Q2 2024 | 534,821 | +4,452 | +0.8% | $111.1M | 4.7% | $207.7 |
| Q1 2024 | 530,369 | +24,818 | +4.9% | $109.7M | 4.5% | $206.8 |
| Q4 2023 | 505,551 | +4,120 | +0.8% | $80.5M | 3.8% | $159.3 |
| Q3 2023 | 501,431 | +14,022 | +2.9% | $69.8M | 3.8% | $139.3 |
| Q2 2023 | 487,409 | +6,178 | +1.3% | $64.5M | 3.4% | $132.4 |
| Q1 2023 | 481,231 | +19,906 | +4.3% | $68.8M | 4.1% | $143.1 |
| Q4 2022 | 461,325 | +10,401 | +2.3% | $59.8M | 3.7% | $129.7 |
| Q3 2022 | 450,924 | 127,915 | -22.1% | $52.4M | 3.5% | $116.2 |
| Q2 2022 | 578,839 | 141,096 | -19.6% | $67.3M | 4.4% | $116.3 |
| Q1 2022 | 719,935 | 96,817 | -11.9% | $82.1M | 4.6% | $114.0 |
| Q4 2021 | 816,752 | +15,856 | +2.0% | $83.8M | 4.5% | $102.7 |
| Q3 2021 | 800,896 | +30,277 | +3.9% | $72.4M | 4.3% | $90.4 |
| Q2 2021 | 770,619 | +95,117 | +14.1% | $75.7M | 4.6% | $98.2 |
| Q1 2021 | 675,502 | +21,278 | +3.3% | $64.6M | 4.3% | $95.6 |
| Q4 2020 | 654,224 | +39,960 | +6.5% | $64.7M | 5.0% | $98.9 |
| Q3 2020 | 614,264 | +10,328 | +1.7% | $58.2M | 5.3% | $94.7 |
| Q2 2020 | 603,936 | +39,398 | +7.0% | $48.4M | 4.8% | $80.1 |
| Q1 2020 | 564,538 | +115,149 | +25.6% | $41.7M | 5.3% | $73.8 |
| Q4 2019 | 449,389 | +181,146 | +67.5% | $32.5M | 2.9% | $72.4 |
| Q3 2019 | 268,243 | — | — | $20.7M | 2.1% | $77.3 |
Methodology & FAQ
How This Position History Is Sourced
Each row is one SEC Form 13F-HR filing disclosing this position. Share count, market value, and reported quarter are taken verbatim from the filing; portfolio weight is recomputed against the same filing's total reported equity book. Implied price-per-share is market value divided by shares — a quarter-end mark, not the manager's cost basis. See the full methodology document for the normalization rules.
When did Giverny Capital Inc. first disclose a PGR position in 13F-HR filings?
Giverny Capital Inc. first reported PROGRESSIVE CORP (PGR) on its 13F-HR filing for the period ending 2019-09-30 (Q3 2019). The position has appeared on 27 reported quarters within Pactolio's tracked window.
What was Giverny Capital Inc.'s most recent quarter-over-quarter share-count change in PGR?
Between Q4 2025 and Q1 2026, Giverny Capital Inc. reduced its PGR position by 8,468 shares (-1.6%), leaving 528,364 shares at a market value of $104.7M.
Does the implied price-per-share represent Giverny Capital Inc.'s cost basis in PGR?
No. The implied price-per-share column is the 13F-HR reported market value divided by reported share count on the filing date (end of quarter). It is a quarter-end mark, not a cost basis or transaction price. Use it as a sanity check on the value column, not as an indicator of the manager's entry or exit price.