Parnassus Investments released its second-quarter 2025 investor letter, reporting a net return of 7.24%, outperforming the Russell 1000 Value Index at 3.79%. The letter lists the top 5 holdings, including The Progressive Corporation (NYSE:PGR), which fell by -141.561% in the past month but increased by 12.78% in the last year.

The investor letter from Parnassus Investments highlighted The Progressive Corporation (NYSE:PGR) underperforming due to policy growth slowing and concerns about tariffs. However, they believe the company is well positioned to outperform peers long term given its scale.

The Progressive Corporation (NYSE:PGR) is ranked 30th in the 30 most popular stocks among hedge funds. While 91 hedge fund portfolios held positions in PGR at the end of Q1 2025, down from 100 in the previous quarter, some believe AI stocks offer greater upside potential with less downside risk.

Although The Progressive Corporation (NYSE:PGR) is a popular stock among hedge funds, some investors see greater promise in AI stocks with higher potential returns over a shorter time frame. If you’re looking for an AI stock with 10,000% upside potential, consider exploring the report on the cheapest AI stock available.

Read more at Yahoo Finance: Parnassus Investments Thinks The Progressive Corp. (PGR) “Remains Well Positioned to Outperform Peers”