In its 13F for Q1 2025 (holdings as of March 31, 2025, filed May 6, 2025), BloombergSen Inc. reported 29 stock positions worth $1.2 billion . Its top holding was Progressive (PGR) at 16.3% of the portfolio, followed by Corpay (CPAY, 11.2% ) and Aon Class A (AON, 10.0% ). Compared with Q4 2024, it opened 2 new positions, sold out of 2, added to 8 and reduced 19. The biggest buy was a new position in Microsoft (MSFT) and the biggest sale Encore Capital (ECPG, shares −11% ).
Location TORONTO, A6
CIK 0001484047
Portfolio Value $1.2B (Q1 2025) Holdings 29 stocks · $1.2B Holdings quarter Q2 2026 Q1 2026 Q4 2025 Q3 2025 Q2 2025 Q1 2025 Q4 2024 Q3 2024 Q2 2024 Q1 2024
Stock % Of Portfolio ▼ Shares Held Total Value Change vs Q4 2024 PGR Progressive Corp. 667,416 $188.9M Reduce -1.7% CPAY Corpay Inc. 372,079 $129.8M Reduce -1.7% AON Aon PLC Class A 289,525 $115.5M Reduce -1.7% HCA HCA Healthcare Inc. 282,007 $97.4M Reduce -1.7% PNFP Pinnacle Financial Partners 882,821 $93.6M Reduce -1.7% DHI D.R. Horton Inc. 655,757 $83.4M Reduce -1.7% BKNG Booking Holdings Inc. 17,583 $81.0M Reduce -1.7% CIGI Colliers Intl GR-Subord Vot 645,698 $78.3M Reduce -2.3% CBZ Cbiz Inc. 1,022,380 $77.6M Reduce -1.7% WRB WR Berkley Corp. filed as BERKLEY W R CORP 749,258 $53.3M Reduce -1.7% NFLX Netflix Inc. 35,831 $33.4M Reduce -1.7% CI The Cigna Group 100,598 $33.1M Reduce -1.7% HUM Humana Inc. 119,708 $31.7M Reduce -1.7% ECPG Encore Capital Group Inc. 803,578 $27.5M Reduce -11.0% MSFT Microsoft Corp. 42,300 $15.9M New CVNA Carvana Co. 21,565 $4.5M Add +275.8% TDUP Thredup Inc. Class A 1,269,649 $3.1M Add +98.5% UBER Uber Technologies Inc. 21,257 $1.5M Reduce -23.9% DASH DoorDash Inc. Class A 7,562 $1.4M Reduce -23.9% W Wayfair Inc. Class A 35,608 $1.1M Add +8.3% MNDY Monday.com Ltd. 4,249 $1.0M Add +16.9% FA First Advantage Corp. 67,696 $954K Add +64.6% FVRR Fiverr International Ltd. 39,714 $940K Add +107.4% SWIM Latham Group Inc. 131,716 $847K Add +10.2% RVLV Revolve Group Inc. Class A 37,727 $811K Add +38.3% TDY Teledyne Technologies Inc. 801 $399K Reduce -7.8% ACVA Acv Auctions Inc. Class A 27,905 $393K Reduce -42.8% GSHD Goosehead Insurance Inc. Class A 2,250 $266K Reduce -33.8% GOOG Alphabet Inc. Class C 100 $16K New
Options reported separately and not counted above: CI calls ($369.8M), GOOG calls ($85.3M).
Portfolio Sells Q4 2024 → Q1 2025 Portfolio Sells quarter Q2 2026 Q1 2026 Q4 2025 Q3 2025 Q2 2025 Q1 2025 Q4 2024 Q3 2024 Q2 2024 Q1 2024
Stock Change vs Q4 2024 % Of Portfolio Change To Portfolio ▲ ECPG Encore Capital Group Inc. Reduce -11.0% 2.38% −1.36 RXO Rxo Inc. Sold out 0.00% −1.22 CIGI Colliers Intl GR-Subord Vot Reduce -2.3% 6.77% −1.02 DHI D.R. Horton Inc. Reduce -1.7% 7.20% −0.88 PNFP Pinnacle Financial Partners Reduce -1.7% 8.09% −0.82 CACC Credit Acceptance Corp. Sold out 0.00% −0.72 BKNG Booking Holdings Inc. Reduce -1.7% 7.00% −0.71 CBZ Cbiz Inc. Reduce -1.7% 6.70% −0.68 ACVA Acv Auctions Inc. Class A Reduce -42.8% 0.03% −0.06 DASH DoorDash Inc. Class A Reduce -23.9% 0.12% −0.03 UBER Uber Technologies Inc. Reduce -23.9% 0.13% −0.01 GSHD Goosehead Insurance Inc. Class A Reduce -33.8% 0.02% −0.01 TDY Teledyne Technologies Inc. Reduce -7.8% 0.03% −0.00 HUM Humana Inc. Reduce -1.7% 2.74% +0.06 NFLX Netflix Inc. Reduce -1.7% 2.89% +0.07 CPAY Corpay Inc. Reduce -1.7% 11.21% +0.11 CI The Cigna Group Reduce -1.7% 2.86% +0.41 WRB WR Berkley Corp. Reduce -1.7% 4.61% +0.74 AON Aon PLC Class A Reduce -1.7% 9.98% +0.81 HCA HCA Healthcare Inc. Reduce -1.7% 8.42% +0.95 PGR Progressive Corp. Reduce -1.7% 16.32% +2.48
Portfolio Buys Q4 2024 → Q1 2025 Portfolio Buys quarter Q2 2026 Q1 2026 Q4 2025 Q3 2025 Q2 2025 Q1 2025 Q4 2024 Q3 2024 Q2 2024 Q1 2024
Stock Change vs Q4 2024 % Of Portfolio Change To Portfolio ▼ MSFT Microsoft Corp. New 1.37% +1.37 CVNA Carvana Co. Add +275.8% 0.39% +0.29 TDUP Thredup Inc. Class A Add +98.5% 0.26% +0.19 FVRR Fiverr International Ltd. Add +107.4% 0.08% +0.03 FA First Advantage Corp. Add +64.6% 0.08% +0.02 MNDY Monday.com Ltd. Add +16.9% 0.09% +0.02 GOOG Alphabet Inc. Class C New 0.00% +0.00 SWIM Latham Group Inc. Add +10.2% 0.07% +0.00 RVLV Revolve Group Inc. Class A Add +38.3% 0.07% −0.01 W Wayfair Inc. Class A Add +8.3% 0.10% −0.03
Options Activity Q4 2024 → Q1 2025 Security Type Change vs Q4 2024 Underlying Shares Value ▼ CI The Cigna Group call Reduce -1.7% 1,124,000 $369.8M GOOG Alphabet Inc. Class C call Reduce -1.7% 546,300 $85.3M CHTR Charter Communications Inc. Class A call Sold out 185,200 $63.5Mbefore exit CVNA Carvana Co. call Sold out 12,500 $2.5Mbefore exit
Calls and puts are listed by the shares they cover; their value is not part of the stock holdings above.
All Filings Quarter Positions 13F Reported Value Top Holdings Q2 2026 28 $894.0M PGR, CPAY, HCA, AON, PNFP Q1 2026 27 $892.8M HCA, PGR, CPAY, AON, PNFP Q4 2025 26 $947.2M PGR, HCA, CPAY, AON, CIGI Q3 2025 30 $1.2B PGR, HCA, DHI, CPAY, AON Q2 2025 29 $1.2B PGR, CPAY, HCA, AON, BKNG Q1 2025 29 $1.2B PGR, CPAY, AON, HCA, PNFP Q4 2024 29 $1.2B PGR, CPAY, AON, PNFP, DHI Q3 2024 31 $1.2B PGR, DHI, CPAY, HCA, AON Q2 2024 29 $1.1B PGR, CIGI, CPAY, DHI, HCA Q1 2024 29 $1.2B CIGI, PGR, CPAY, DHI, AON