Who owns Lemonade (LMND)
Which tracked institutional funds hold LMND, how they are positioned, and who is buying versus exiting — from SEC Form 13F-HR filings. See LMND company fundamentals →
Ownership as of the 2026-Q1 13F filings (latest filed 2026-05-18). 13F is disclosed up to 45 days after quarter-end, so the most recent quarter fills in over the following weeks.
How the tape is positioned
62 tracked funds added or opened LMND while 104 trimmed or exited it between 2025-Q4 and 2026-Q1 — the tape is split. When large holders disagree on a name, the funds moving first are sometimes ahead of the story.
A prompt to read the filings, not a verdict. 13F is a quarter-end snapshot disclosed up to 45 days late; a fund adds or exits for mandate, benchmark, and timing reasons that have nothing to do with a view on the stock. This is a starting question, not a signal to trade.
Conviction spread
LMND’s largest tracked holder by dollar value, VANGUARD GROUP INC, sizes it at 0.0% of its own reported 13F book, while the median holder sizes it at 0.0% of theirs — a 0.0pp gap the other way — the median holder sizes LMND more heavily than its largest holder by dollar value does.
Book-share is each fund’s reported value in LMND divided by its whole reported 13F book, so it is comparable across funds of different sizes and is unaffected by stock splits. A higher share means a fund has committed more of its book to the name — a starting question about conviction, not a verdict or a signal to trade.
Institutional & insider positioning
Between 2025-Q4 and 2026-Q1, across 348 tracked filers holding LMND, 178 increased or opened the position and 182 reduced or closed it; over the same quarter, open-market insider Form 4s were net purchases.
This fuses two public signals for the same quarter — how tracked institutions changed their positions and whether insiders bought or sold in the open market. It describes what was filed; it is a starting question, not a verdict or a signal to trade.
New buyers & exits
Funds opening or closing a position in LMND between the 2025-Q4 and 2026-Q1 13F filings, and the largest changes among funds holding it in both. New buyers and exits are counted on fund presence (split-invariant); adds and trims are measured on reported value.
New buyers 26
- VANGUARD CAPITAL MANAGEMENT LLC$189M
- VANGUARD PORTFOLIO MANAGEMENT LLC$187M
- FRONTIER CAPITAL MANAGEMENT CO LLC$42M
- VANGUARD FIDUCIARY TRUST CO$28M
- Trexquant Investment LP$17M
- TB Alternative Assets Ltd.$15M
Full exits 22
- VANGUARD GROUP INC$449M
- SOFTBANK GROUP CORP.$66M
- Man Group plc$26M
- TWO SIGMA ADVISERS, LP$25M
- NZS Capital, LLC$9M
- Atika Capital Management LLC$8M
Largest adds
- JANE STREET GROUP, LLC$76M
- Squarepoint Ops LLC$50M
- Walleye Capital LLC$17M
- CAPITAL FUND MANAGEMENT S.A.$17M
- CITIGROUP INC$12M
- CITADEL ADVISORS LLC$11M
Largest trims
- M&T Bank Corp$344M
- BlackRock, Inc.$210M
- PRICE T ROWE ASSOCIATES INC /MD/$101M
- BIT Capital GmbH$93M
- D. E. Shaw & Co., Inc.$61M
- DEUTSCHE BANK AG\$31M
Institutional holders
One row per tracked fund, largest reported value first. “% of value” is the fund’s share of this security’s tracked institutional value — not of shares outstanding. Rows marked stale are from an earlier filing than the security’s latest quarter — that fund is absent from the newest snapshot (position exited, or reported under a different name).
| Fund | Shares | Reported value | % of value | Quarter |
|---|---|---|---|---|
| BlackRock, Inc. added | 6,047,782 | $393M | 11.9% | 2026-Q2 |
| JPMORGAN CHASE & CO added | 5,262,816 | $309M | 9.3% | 2026-Q1 |
| VANGUARD CAPITAL MANAGEMENT LLC new | 3,018,092 | $189M | 5.7% | 2026-Q1 |
| VANGUARD PORTFOLIO MANAGEMENT LLC new | 2,981,857 | $187M | 5.7% | 2026-Q1 |
| BAILLIE GIFFORD & CO trimmed | 2,751,019 | $179M | 5.4% | 2026-Q2 |
| STATE STREET CORP added | 1,769,235 | $115M | 3.5% | 2026-Q2 |
| GEODE CAPITAL MANAGEMENT, LLC added | 1,715,851 | $108M | 3.3% | 2026-Q1 |
| TWO SIGMA INVESTMENTS, LP added | 1,173,878 | $76M | 2.3% | 2026-Q2 |
| JANE STREET GROUP, LLC added | 1,218,215 | $76M | 2.3% | 2026-Q1 |
| MORGAN STANLEY trimmed | 1,164,638 | $73M | 2.2% | 2026-Q1 |
| Squarepoint Ops LLC added | 890,517 | $56M | 1.7% | 2026-Q1 |
| GOLDMAN SACHS GROUP INC trimmed | 725,403 | $45M | 1.4% | 2026-Q1 |
| FRONTIER CAPITAL MANAGEMENT CO LLC new | 672,383 | $42M | 1.3% | 2026-Q1 |
| Analyst IMS Investment Management Services Ltd. | 617,639 | $39M | 1.2% | 2026-Q1 |
| NORTHERN TRUST CORP added | 609,452 | $38M | 1.2% | 2026-Q1 |
| BIT Capital GmbH trimmed | 583,796 | $37M | 1.1% | 2026-Q1 |
| Holocene Advisors, LP trimmed | 553,566 | $35M | 1.0% | 2026-Q1 |
| Halter Ferguson Financial Inc. trimmed | 546,324 | $34M | 1.0% | 2026-Q1 |
| CHARLES SCHWAB INVESTMENT MANAGEMENT INC trimmed | 517,347 | $32M | 1.0% | 2026-Q1 |
| CITADEL ADVISORS LLC trimmed | 472,837 | $31M | 0.9% | 2026-Q2 |
| Nuveen, LLC added | 456,540 | $29M | 0.9% | 2026-Q1 |
| VANGUARD FIDUCIARY TRUST CO new | 442,885 | $28M | 0.8% | 2026-Q1 |
| BANK OF AMERICA CORP /DE/ added | 360,411 | $23M | 0.7% | 2026-Q1 |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP added | 346,916 | $22M | 0.7% | 2026-Q1 |
| UBS Group AG added | 346,833 | $22M | 0.7% | 2026-Q1 |
| CAPITAL FUND MANAGEMENT S.A. added | 311,309 | $20M | 0.6% | 2026-Q1 |
| Walleye Capital LLC added | 283,538 | $18M | 0.5% | 2026-Q1 |
| Qube Research & Technologies Ltd added | 277,810 | $17M | 0.5% | 2026-Q1 |
| Trexquant Investment LP added | 271,024 | $17M | 0.5% | 2026-Q1 |
| CITIGROUP INC added | 269,911 | $17M | 0.5% | 2026-Q1 |
| Privium Fund Management B.V. added | 255,259 | $16M | 0.5% | 2026-Q1 |
| TB Alternative Assets Ltd. new | 235,818 | $15M | 0.4% | 2026-Q1 |
| D. E. Shaw & Co., Inc. trimmed | 209,386 | $14M | 0.4% | 2026-Q2 |
| LANDSCAPE CAPITAL MANAGEMENT, L.L.C. added | 211,736 | $13M | 0.4% | 2026-Q1 |
| BARCLAYS PLC added | 191,976 | $12M | 0.4% | 2026-Q1 |
| Defiance ETFs, LLC new | 185,563 | $12M | 0.4% | 2026-Q1 |
| WELLS FARGO & COMPANY/MN added | 181,827 | $11M | 0.3% | 2026-Q1 |
| Bank of New York Mellon Corp trimmed | 181,510 | $11M | 0.3% | 2026-Q1 |
| GROUP ONE TRADING LLC added | 179,954 | $11M | 0.3% | 2026-Q1 |
| Woodline Partners LP new | 179,608 | $11M | 0.3% | 2026-Q1 |
| PhiloSmith Capital Corp | 173,250 | $11M | 0.3% | 2026-Q1 |
| TUDOR INVESTMENT CORP ET AL added | 163,831 | $11M | 0.3% | 2026-Q2 |
| FEDERATED HERMES, INC. trimmed | 168,708 | $11M | 0.3% | 2026-Q1 |
| NEUBERGER BERMAN GROUP LLC added | 167,595 | $11M | 0.3% | 2026-Q1 |
| CANADA PENSION PLAN INVESTMENT BOARD added | 162,900 | $10M | 0.3% | 2026-Q1 |
| FIRST TRUST ADVISORS LP trimmed | 152,466 | $10M | 0.3% | 2026-Q1 |
| AMERIPRISE FINANCIAL INC added | 139,250 | $9M | 0.3% | 2026-Q1 |
| CI INVESTMENTS INC. trimmed | 131,261 | $8M | 0.2% | 2026-Q1 |
| Swiss National Bank | 123,800 | $8M | 0.2% | 2026-Q1 |
| Liontrust Investment Partners LLP | 93,854 | $7M | 0.2% | 2026-Q1 |
| Sparta 24 Ltd. trimmed | 105,728 | $7M | 0.2% | 2026-Q1 |
| GILDER GAGNON HOWE & CO LLC trimmed | 103,734 | $7M | 0.2% | 2026-Q1 |
| Ma Investment Partnership, LP | 100,000 | $6M | 0.2% | 2026-Q1 |
| PRICE T ROWE ASSOCIATES INC /MD/ added | 92,887 | $6M | 0.2% | 2026-Q2 |
| LPL Financial LLC added | 96,022 | $6M | 0.2% | 2026-Q1 |
| UBS AM, a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC trimmed | 92,619 | $6M | 0.2% | 2026-Q1 |
| TEACHERS RETIREMENT SYSTEM OF THE STATE OF KENTUCKY added | 91,662 | $6M | 0.2% | 2026-Q1 |
| PDT Partners, LLC trimmed | 89,507 | $6M | 0.2% | 2026-Q1 |
| Hillsdale Investment Management Inc. trimmed | 80,800 | $5M | 0.2% | 2026-Q1 |
| BALYASNY ASSET MANAGEMENT L.P. added | 75,870 | $5M | 0.1% | 2026-Q2 |
| MARSHALL WACE, LLP trimmed | 75,427 | $5M | 0.1% | 2026-Q2 |
| Invesco Ltd. trimmed | 74,460 | $5M | 0.1% | 2026-Q2 |
| RHUMBLINE ADVISERS trimmed | 75,141 | $5M | 0.1% | 2026-Q1 |
| CALIFORNIA STATE TEACHERS RETIREMENT SYSTEM added | 72,887 | $5M | 0.1% | 2026-Q1 |
| ALLIANCEBERNSTEIN L.P. added | 62,668 | $4M | 0.1% | 2026-Q1 |
| EFG International AG trimmed | 69,766 | $4M | 0.1% | 2026-Q1 |
| PEAK6 LLC added | 64,961 | $4M | 0.1% | 2026-Q1 |
| NIA IMPACT ADVISORS, LLC trimmed | 63,645 | $4M | 0.1% | 2026-Q1 |
| Connor, Clark & Lunn Investment Management Ltd. trimmed | 62,001 | $4M | 0.1% | 2026-Q1 |
| HRT FINANCIAL LP added | 61,700 | $4M | 0.1% | 2026-Q1 |
| Point72 Asset Management, L.P. added | 59,000 | $4M | 0.1% | 2026-Q1 |
| DEUTSCHE BANK AG\ trimmed | 58,596 | $4M | 0.1% | 2026-Q1 |
| Aquatic Capital Management LLC added | 58,412 | $4M | 0.1% | 2026-Q1 |
| Universal- Beteiligungs- und Servicegesellschaft mbH trimmed | 57,639 | $4M | 0.1% | 2026-Q1 |
| MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. trimmed | 56,886 | $4M | 0.1% | 2026-Q1 |
| Amtrust Financial Services, Inc. | 56,644 | $4M | 0.1% | 2026-Q1 |
| VANGUARD ASSET MANAGEMENT, Ltd new | 56,336 | $4M | 0.1% | 2026-Q1 |
| NATIXIS new | 53,750 | $3M | 0.1% | 2026-Q1 |
| Legal & General Group Plc trimmed | 49,937 | $3M | 0.1% | 2026-Q1 |
| ExodusPoint Capital Management, LP added | 49,464 | $3M | 0.1% | 2026-Q1 |
| Marex Group plc added | 48,426 | $3M | 0.1% | 2026-Q1 |
| AQR CAPITAL MANAGEMENT LLC trimmed | 46,085 | $3M | 0.1% | 2026-Q2 |
| Tidal Investments LLC added | 47,642 | $3M | 0.1% | 2026-Q1 |
| Walleye Trading LLC trimmed | 45,521 | $3M | 0.1% | 2026-Q1 |
| Hudson Bay Capital Management LP trimmed | 43,327 | $3M | 0.1% | 2026-Q2 |
| Bridgewater Associates, LP trimmed | 42,648 | $3M | 0.1% | 2026-Q1 |
| CANTOR FITZGERALD, L. P. trimmed | 40,123 | $3M | 0.1% | 2026-Q1 |
| MILLENNIUM MANAGEMENT LLC added | 38,350 | $2M | 0.1% | 2026-Q2 |
| VANGUARD GROUP INC added | 6,305,453 | $449M | 13.6% | 2025-Q4 stale |
| SOFTBANK GROUP CORP. trimmed | 925,496 | $66M | 2.0% | 2025-Q4 stale |
| Man Group plc new | 364,963 | $26M | 0.8% | 2025-Q4 stale |
| TWO SIGMA ADVISERS, LP trimmed | 348,898 | $25M | 0.8% | 2025-Q4 stale |
| Cubist Systematic Strategies, LLC added | 268,672 | $12M | 0.4% | 2025-Q2 stale |
| NZS Capital, LLC added | 130,379 | $9M | 0.3% | 2025-Q4 stale |
| JUPITER ASSET MANAGEMENT LTD new | 169,260 | $9M | 0.3% | 2025-Q3 stale |
| Atika Capital Management LLC added | 113,917 | $8M | 0.2% | 2025-Q4 stale |
| Informed Momentum Co LLC trimmed | 64,080 | $5M | 0.1% | 2025-Q4 stale |
| Hidden Lake Asset Management LP added | 63,032 | $4M | 0.1% | 2025-Q4 stale |
| Verition Fund Management LLC trimmed | 54,959 | $4M | 0.1% | 2025-Q4 stale |
| BLUE JEAN FINANCIAL LLC new | 39,549 | $3M | 0.1% | 2025-Q4 stale |
Ownership over time
Tracked institutional holder count and total shares held by filing quarter (independent scales). The curated-era tail and any mid-ingest latest quarter are handled honestly — a partial quarter is not drawn as a collapse.
Reading this table
Funds hold the same stock for different reasons — an index fund “holds” almost everything, an active manager sizes a name to a mandate and a benchmark, and each fund entered at its own price and time. Because 13F is filed up to 45 days after quarter-end, every row is a backward-looking snapshot; a manager may have traded since. Share-class siblings (a company’s A and C shares) are rolled up to one line so a dual-class name is never double-counted. Compare like-for-like. A large holder is not an endorsement, and a fund exiting is not a warning — this is a starting question, not a verdict.
About 13F filings
A Form 13F is a quarterly disclosure that institutional investment managers with over $100 million in US-listed equities must file with the SEC. In plain English: it is a snapshot of the long stock positions a fund held at the end of a quarter. It covers long US-listed equities only — not short positions, options, cash, or private holdings — and the funds shown are the large sample we track, not the complete 13F universe.