The Travelers Companies, Inc.

The full register, from 13F filings

The Register tab above is hand research: a dozen holders, each traced to the filing it came from. This asks the same question of the whole market for the quarter ended 31-mar-2026, where 1,769 managers reported a position. Broad where the research is deep, and shallow in the ways a 13F always is.

Built from 13F filings, which report US listed, long, US custodied positions only. A register from this source is a floor rather than a level: a holder's true position can be far larger, as BlackRock's ASML stake shows at 1.28m shares in a 13F against 26.3m in its 13G/A. Holdings held through derivatives, outside US custody, or below a manager's reporting obligation do not appear. Where a holder is marked as a family, its total sums several separate filing entities and describes something no single filing describes; the constituent entities and their share counts are listed so the total can be checked. That roll-up can legitimately exceed the family's own Schedule 13G, because a 13G is filed by one legal entity: Vanguard reports Alphabet through ten advisory entities, and The Vanguard Group Inc itself reported zero after its January 2026 disaggregation.

What a reader needs to know to read these numbers

• The Travelers 13F exclusion, applied narrowly. Travelers itself files a Form 13F-HR (CIK 0000086312, jointly with subsidiary Travelers Indemnity Co, CIK 0000937875, as an included manager): the Q2 2026 filing (filed 7 Aug 2026, period 30 Jun 2026) reports exactly 2 positions with total value $141,638,454. Unlike a bank or asset manager's 13F, this is not client assets, it is Travelers' own directly-held equity portfolio, but the filing's tiny size (2 lines, versus thousands for the bank/asset-manager 13Fs elsewhere in this project) shows it captures only positions where Travelers itself, rather than a delegated external manager, holds investment discretion. It is not a proxy for Travelers' whole public-equity book (see next note), and one of the two lines (Pelagos) is a named strategic minority stake tied to a reinsurance relationship, so it is treated as a holding rather than waved off wholesale the way PNC's or a bank's enormous client-asset 13F is.
• Ramaco Resources Inc, the second line in Travelers' own Q2 2026 13F (15,724 shares, $208,029, CUSIP 75134P600), is excluded from holdings as immaterial: about 0.15% of the $141.6 million reported on that 13F and roughly a rounding error against Travelers' $103.2 billion total investment portfolio. Neither the Q2 2026 10-Q nor the FY2025 10-K names Ramaco Resources anywhere, so no operating or strategic relationship is disclosed; it reads as an ordinary equity-portfolio holding, not a strategic stake, and is not sized further here.
• Travelers' Q2 2026 10-Q balance sheet shows total investments of $103,179 million, of which public equity securities (common stock plus non-redeemable preferred) were only $652 million at fair value (cost $410 million), and 'Other investments' (private equity, hedge fund and real estate partnerships and joint ventures accounted for under the equity method) were $4,142 million. No individual investee is named within either bucket in the 10-Q or the FY2025 10-K beyond the Pelagos/Ramaco disclosures already captured from the 13F, so per the brief's rule against sizing unnamed combined balances, no additional holdings rows are recorded for the $4,142 million equity-method bucket; it is reported here and in unknowns instead of being invented as sized positions. Searched terms in both filings: 'equity method', 'unconsolidated', 'joint venture', 'strategic investment', 'non-redeemable preferred', 'other investments', 'private equity'.
• The Pelagos stake carries a business relationship beyond passive investment: Travelers' Q2 2026 10-Q discloses it 'renewed a quota share reinsurance agreement with subsidiaries of Pelagos Insurance Capital Limited (formerly known as Fidelis Insurance Holdings Limited) for 2026 pursuant to which the Company assumes 20% of the subject gross written premiums of Pelagos' and separately states 'The Company also has a minority investment in Pelagos,' without a dollar figure. The share count and value used here (5,808,231 shares, $141,430,425) come from Travelers' own 13F-HR as of 30 Jun 2026. Pelagos is a NYSE-listed company (ticker PLGO, formerly FIHL; legal name change effective 7 May 2026), so target_is_private is false.
• Vanguard case: Vanguard Group Inc (CIK 0000102909) filed 13F-NT (no holdings) for Q2 2026. Per the brief this is the successors-summed case: Vanguard Capital Management LLC and Vanguard Portfolio Management LLC are summed into one 'The Vanguard Group' register row (22,201,255 shares) rather than listing Vanguard more than once.
• Register reconciliation, 13F vs proxy 13G data. Travelers' 2026 proxy 5% Owners table (based on the most recent Schedule 13G/A each holder filed, share counts mostly dated 30 or 31 Mar 2026 or 31 Dec 2023) shows: Vanguard 22,177,978 shares (10.43%), BlackRock 17,219,168 shares (8.10%, sourced from a 13G filed 17 Apr 2025 as of 31 Mar 2025, over a year stale), State Street 15,818,206 shares (7.44%), FMR LLC 15,072,586.57 shares (7.09%, a non-whole-number count, presumably an aggregator artifact in the proxy's own sourcing). This register instead uses each manager's Q2 2026 Form 13F-HR (30 Jun 2026 position dates) per the brief: Vanguard 22,201,255, BlackRock 20,949,680 (meaningfully higher than the stale 2025 13G figure), State Street 15,706,016, and FMR 10,272,794 (meaningfully lower than the proxy's 13G-sourced figure, an unresolved discrepancy; both figures are real filings, just different report types and dates, so both are recorded here rather than picking one to overwrite the other).
• Capital Research Global Investors (CIK 0001422848), listed among this project's verified TRV-relevant manager CIKs, was checked against its own Q2 2026 13F-HR (accession 0001422848-26-000094) and holds no Travelers position (CUSIP 89417E109 not present in its information table), so it is not included in the register.
• Percentages are computed by this research against 208,575,022 common shares outstanding as of 10 July 2026 (Q2 2026 10-Q cover page), including for the two proxy-sourced insider rows, whose underlying share counts are as of the proxy's own record date of 23 March 2026; the proxy itself does not disclose a shares-outstanding figure to use as an alternative denominator alongside that table.
• Market capitalisation of $77.25 billion and the $370.36 share price are stockanalysis.com's figures as of 14 August 2026 (previous close). Cross-check: 208,575,022 shares x $370.36 implies approximately $77.25 billion, consistent with the reported market cap.
• Self-gate check: summing the twelve non-aggregate, non-insider, non-member register rows (Vanguard through Franklin Resources) gives 93,069,546 shares against 208,575,022 shares outstanding, or 44.62%, within the expected 15 to 55 percent range for this register.