On November 3, 2025, Privium Fund Management B.V. disclosed a new position in Lemonade (LMND 4.68%), acquiring 145,000 shares for an estimated $7.76 million.
What Happened
According to a filing released November 3, 2025, with the Securities and Exchange Commission (SEC), Privium Fund Management B.V. disclosed a new stake in Lemonade during the third quarter. The fund acquired about 145,000 shares, with an estimated transaction value of $7.76 million based on the quarter’s average share price. This addition brings the fund’s total reported U.S. equity holdings to 59 positions and $556.26 million in assets under management.
What Else to Know
This is a new position for the fund and comprises approximately 1.4% of its 13F reportable assets as of September 30, 2025.
Top holdings after the filing:
- NASDAQ:TSLA: $108.51 million (19.5% of AUM)
- NYSE:SPOT: $66.31 million (11.9% of AUM)
- NASDAQ:SHOP: $61.67 million (11.1% of AUM)
- NASDAQ:PLTR: $36.48 million (6.6% of AUM)
- NASDAQ:AMZN: $32.72 million (5.9% of AUM)
As of November 3, 2025, shares of Lemonade were priced at $61.54, up approximately 161.1% over the past year; shares have outperformed the S&P 500 by 138.80 percentage points.
Company Overview
| Metric | Value |
|---|---|
| Revenue (TTM) | $489.80 million |
| Net Income (TTM) | ($204.00 million) |
| Market Capitalization | $4.55 billion |
| Price (as of market close November 3, 2025) | $61.54 |
Company Snapshot
Lemonade, Inc. is a technology-driven insurance provider focused on property and casualty lines, with a strong presence in both the U.S. and European markets. The company leverages artificial intelligence and automation to deliver a differentiated customer experience and operational efficiency. Its scalable digital platform positions it to compete effectively against traditional insurers by offering fast, user-friendly insurance solutions.
The company offers renters, homeowners, pet, car, life, and landlord insurance products, generating revenue primarily from premiums and policy fees. It operates a digital-first, direct-to-consumer model leveraging artificial intelligence to streamline underwriting, claims, and customer service.
Lemonade targets individuals and households in the United States and Europe seeking property and casualty insurance solutions.
Foolish Take
There's no doubt about it: Lemonade stock is coming back to life. After years of underperformance, shares of the tech-driven insurer are perking back up. In fact, year-to-date, shares have advanced by 68% -- handily outpacing the S&P 500, which is up 18%.
What's more, some institutional players appear to be lining up for the stock, including Privium Fund Management, an independent fund management firm based out of the Netherlands. Privium's purchase of nearly $7.8 million shares demonstrates that major institutions are once again bullish on Lemonade's prospects.
At any rate, Lemonade is set to release third-quarter earnings report on the morning of November 05, 2025 for the three months ending on September 30, 2025. The earnings report comes at a critical time, as the company's stock is trading near its 52-week high of $63.48.
In summary, Privium's purchase of Lemonade stock is a sign of institutional support for the company in the runup to its forthcoming earnings release. Retail investors should take note.
Glossary
13F reportable assets: Assets that institutional investment managers must disclose quarterly to the SEC, showing their U.S. equity holdings.
Assets under management (AUM): The total market value of investments managed on behalf of clients by a fund or firm.
Position: The amount of a particular security or investment held by an individual or institution.
Stake: The ownership interest or share an investor holds in a company.
Direct-to-consumer model: A business approach where products are sold directly to end customers, bypassing intermediaries.
Underwriting: The process insurers use to evaluate risk and determine the terms and pricing of insurance policies.
Claims: Requests made by policyholders to an insurer for payment based on the terms of an insurance policy.
Property and casualty insurance: Insurance that covers damage to property and protection against legal liability for injuries or damage to others.
Scalable digital platform: Technology infrastructure that can efficiently handle increased business volume or users without sacrificing performance.
Artificial intelligence (AI): Computer systems designed to perform tasks that typically require human intelligence, such as decision-making and automation.
Outperforming: Achieving better returns or results than a benchmark or comparable group.
TTM: The 12-month period ending with the most recent quarterly report.
