HGTY Hagerty, Inc.
Executive Summary
Five mega-passive institutional investors (Vanguard, BlackRock, State Street, Fidelity, Morgan Stanley) collectively added $27.3M to their HGTY positions during Q3 2025, with aggregate holdings rising to $60.6M. The cluster is entirely passive/index-driven, reflecting index rebalancing or market-cap weighting adjustments, not an active investment thesis. No sellers were present. The signal value is low: passive inflows do not reflect fundamental conviction, and the 45-day 13F reporting lag means these additions may already be stale.
Key Financial Metrics
Institutional Positions
Net institutional flow: $27.3M
▲ Buyers (5)
| Institution | Action | Change | Position Value | Value Δ |
|---|---|---|---|---|
| Vanguard | ADD | +32.3% | $41.6M | $15.2M |
| Fidelity | DOUBLED | +1283164.1% | $6.0M | $6.0M |
| BlackRock | ADD | +38.1% | $7.8M | $3.1M |
| Morgan Stanley | DOUBLED | +105.6% | $2.8M | $2.0M |
| State Street | ADD | +44.9% | $2.4M | $1.0M |
Actionable Insight
The cluster is solely passive index-driven and carries no fundamental signal. Index additions are likely already priced in. HGTY's historical report data shows a consistent negative T+20 drift of -2.74% average, suggesting the stock has been underperforming. Monitor for active manager accumulation or strategic insider buying before considering a position.
Key Facts
- 5 passive institutions added $27.3M in new HGTY exposure during Q3 2025
- Aggregate holdings rose to $60.6M; no institutional sellers
- All buyers are mega-passive index fund managers (Vanguard, BlackRock, State Street, Fidelity, Morgan Stanley)
- 13F data is 45+ days stale and reflects quarter-end positions, not current positioning
- Fidelity's position went from a de minimis 26 shares to 500.5K shares (one-time correction or index tracking, not conviction)
- Historical report scores on HGTY show a net negative average T+20 return of -2.74% with only a 33% win rate
Financial Impact
5 passive institutions accumulated $27.3M in new HGTY holdings during Q3 2025, bringing total reported holdings to $60.6M
Risk Factors
- 13F data is at least 45 days stale and may not reflect current institutional positioning
- No active managers in this cluster — passive inflows do not reflect fundamental conviction
- Historical filing reports on HGTY show an average -2.74% T+20 return across 9 settled reports with only 33% win rate
Market Snapshot
Documents Analyzed
This report is based on 1 institutional 13F filing from SEC EDGAR.
| Document | Accession Number |
|---|---|
| INST-CLUSTER Data (Synthetic) | inst-cluster-HGTY-2025-Q3 |
Track record builds as more directional reports settle.
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
|
Jun 11, 2026
4d ago
|
Institutional Cluster
| $10.84 awaiting T+5 | awaiting T+5 | — | — |
|
May 19, 2026
27d ago
|
Press Release
| $11.05 $10.15 | ▼ −8.14% | ▼ −10.44% | — |
|
May 6, 2026
5w ago
|
8-K
| $10.07 $9.99 | ▼ −0.79% | ▼ −1.93% | — |
|
Apr 30, 2026
6w ago
|
DEFA14A
| $10.34 $10.06 | ▼ −2.71% | ▼ −5.05% | — |
|
Apr 28, 2026
6w ago
|
Press Release
| $10.67 $10.07 | ▼ −5.62% | ▼ −7.32% | — |
|
Apr 24, 2026
7w ago
|
Press Release
| $10.70 $10.16 | ▼ −5.05% | ▼ −5.96% | — |
|
Apr 22, 2026
7w ago
|
Press Release
| $10.51 $10.62 | ▲ +1.05% | ▲ +0.99% | — |
|
Apr 15, 2026
8w ago
|
8-K
| $10.53 $10.61 | ▲ +0.76% | ▼ −0.22% | — |
|
Apr 14, 2026
8w ago
|
Press Release
| $10.92 $10.78 | ▼ −1.28% | ▼ −2.68% | — |
|
Apr 7, 2026
9w ago
|
144
| $11.36 $11.02 | ▼ −2.99% | ▼ −6.51% | — |
US Market Status
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