Greenhaven Road Capital Doubled Its Holdings in Hagerty (HGTY)

5 days ago 6

Soumya Eswaran

Mon, November 10, 2025 astatine 7:49 AM CST 3 min read

Greenhaven Road Capital, an concern absorption company, released its third-quarter 2025 capitalist letter. A transcript of the missive tin beryllium downloaded here. In the 3rd quarter, the money returned astir -9%, bringing the YTD returns to astir -9%. The factors that affected the portfolio during the 4th included a deficiency of nonstop concern successful AI, nary overlap with the S&P 500 and Russell 2000, and insufficient ownership of small, precocious growth, yet unprofitable companies that person driven the caller rally and benefited from the existent AI landscape. In addition, you tin cheque the fund’s apical 5 holdings to find its champion picks for 2025.

In its third-quarter 2025 capitalist letter, Greenhaven Road Capital highlighted stocks specified arsenic Hagerty, Inc. (NYSE:HGTY). Hagerty, Inc. (NYSE:HGTY) is simply a US-based institution that provides security services for collector cars and enthusiast vehicles. The one-month instrumentality of Hagerty, Inc. (NYSE:HGTY) was 5.70%, and its shares gained 14.25% of their worth implicit the past 52 weeks. On November 7, 2025, Hagerty, Inc. (NYSE:HGTY) banal closed astatine $12.43 per share, with a marketplace capitalization of $4.252 billion.

Greenhaven Road Capital stated the pursuing regarding Hagerty, Inc. (NYSE:HGTY) successful its 3rd 4th 2025 capitalist letter:

"Hagerty, Inc. (NYSE:HGTY): We person much than doubled Greenhaven Road’s fig of shares held implicit the people of 2025. The halfway thesis: Hagerty's net could turn 5x from 2024-2029, driven by 3 factors. First, the State Farm concern transitions from a multi-million-dollar disbursal (pre-launch preparation) to a nett contributor arsenic policies travel online. Second, operating leverage kicks successful arsenic policies successful unit turn portion the institution consolidates onto 1 IT level (Duck Creek), reducing costs. Third, nonaccomplishment ratios normalize backmost to Hagerty's humanities 42% people aft caller hurricane and proviso concatenation disruptions.

Hagerty, Inc. (NYSE:HGTY) is not connected our database of 30 Most Popular Stocks Among Hedge Funds. According to our database, 11 hedge money portfolios held Hagerty, Inc. (NYSE:HGTY) astatine the extremity of the 2nd quarter, compared to 12 successful the erstwhile quarter. While we admit the imaginable of Hagerty, Inc. (NYSE:HGTY) arsenic an investment, we judge definite AI stocks connection greater upside imaginable and transportation little downside risk. If you're looking for an highly undervalued AI banal that besides stands to payment importantly from Trump-era tariffs and the onshoring trend, spot our escaped study connected the best short-term AI stock.