AMERICAN FINL GROUP INC OHIO AFG
COM · Common Stock · CUSIP 025932104 · ISIN US0259321042
American insurance and investments company
- SectorFinancials
- IndustryFire, Marine & Casualty Insurance
- HeadquartersCincinnati, OH
- Founded1872
- Websiteafginc.com
- FilingsSEC EDGAR
* Summed across managers. Shares that two managers' reports both contain – a subsidiary's holdings that its parent's report includes too, or a sub-adviser's in its client's – are counted once ($7.5m this quarter). Holder counts are more reliable. Shares outstanding: 83.4m as of 2025-11-01, from the company's own SEC filing; the percentage can still exceed 100%: lent-out shares are counted by the lender and the buyer, and some reports overlap without saying so. Implied quarter-end price ≈ $146.02. Options: 8 managers hold calls ($38.8m notional), 3 hold puts ($5.9m).
Trends to Q3 2025
Institutional holders
Managers reporting a position, each quarter
Numbers
| Quarter | Holders |
|---|---|
| Q3 2022 | 428 |
| Q4 2022 | 465 |
| Q1 2023 | 436 |
| Q2 2023 | 421 |
| Q3 2023 | 395 |
| Q4 2023 | 412 |
| Q1 2024 | 419 |
| Q2 2024 | 426 |
| Q3 2024 | 423 |
| Q4 2024 | 452 |
| Q1 2025 | 483 |
| Q2 2025 | 460 |
| Q3 2025 | 489 |
Buyers vs sellers
Managers adding to or starting a position, vs cutting or selling out
Numbers
| Quarter | Bought or added | Cut or sold out |
|---|---|---|
| Q4 2023 | 196 | 183 |
| Q1 2024 | 208 | 180 |
| Q2 2024 | 204 | 187 |
| Q3 2024 | 225 | 168 |
| Q4 2024 | 225 | 171 |
| Q1 2025 | 259 | 187 |
| Q2 2025 | 211 | 244 |
| Q3 2025 | 221 | 225 |
Calls vs puts
Options held, notional value, last 4 quarters. P/C = puts ÷ calls
Numbers
| Quarter | Calls | Puts | P/C |
|---|---|---|---|
| Q4 2024 | $6.6m | $3.5m | 0.54 |
| Q1 2025 | $12.6m | $4.4m | 0.35 |
| Q2 2025 | $24.0m | $3.7m | 0.15 |
| Q3 2025 | $38.8m | $5.9m | 0.15 |
Biggest buyers
| Balyasny Asset Management L.P. | Added | +571.7k |
| JPMORGAN CHASE & CO | Added | +507.7k |
| VICTORY CAPITAL MANAGEMENT INC | Added | +337.6k |
| FMR LLC | Added | +292.2k |
| NORTHERN TRUST CORP | Added | +255.7k |
| Woodline Partners LP | Added | +229.1k |
| GOLDMAN SACHS GROUP INC | Added | +228.9k |
| Gillson Capital LP | Added | +164.8k |
| Man Group plc | Added | +150.9k |
| Freestone Grove Partners LP | Added | +129.8k |
Biggest sellers
| VESTOR CAPITAL, LLC | Reduced | -387.8k |
| BlackRock, Inc. | Reduced | -313.9k |
| VANGUARD GROUP INC | Reduced | -294.7k |
| LSV ASSET MANAGEMENT | Reduced | -247.0k |
| ROYAL BANK OF CANADA | Reduced | -171.0k |
| HSBC HOLDINGS PLC | Reduced | -159.3k |
| FIL Ltd | Reduced | -150.0k |
| VIRGINIA RETIREMENT SYSTEMS ET Al | Reduced | -147.9k |
| AMERICAN FINANCIAL GROUP INC 401(K) RETIREMENT & SAVINGS PLAN | Reduced | -145.4k |
| Amundi | Reduced | -134.5k |
Biggest calls
| Balyasny Asset Management L.P. | Unchanged | $21.9m150.0k shares |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | Added | $8.7m59.7k shares |
| GOLDMAN SACHS GROUP INC | New | $2.5m16.9k shares |
| SIMPLEX TRADING, LLC | Added | $1.5m10.6k shares |
| CITADEL ADVISORS LLC | Reduced | $1.4m9.9k shares |
| WOLVERINE TRADING, LLC | New | $1.4m9.9k shares |
| JANE STREET GROUP, LLC | New | $743.2k5.1k shares |
| GROUP ONE TRADING LLC | Added | $612.0k4.2k shares |
Biggest puts
| CITADEL ADVISORS LLC | Added | $3.1m21.3k shares |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | Reduced | $1.9m12.7k shares |
| WOLVERINE TRADING, LLC | New | $896.1k6.2k shares |
Options at notional value: the value of the shares the contracts control, as filers report them, not what the options cost. Not included in the holders, shares or buying above.
Major shareholders (over 5%)
Anyone who owns more than 5% of a class of the company's shares has to say so: on Schedule 13D if they may try to influence or control the company, on 13G if they're a passive investor, and update it as the stake changes. Each holder's latest filing, from 19 Dec 2024 on; percentages are of the share class, as the holder worked them out.
| Holder | Stake |
|---|---|
| BlackRock, Inc. 13G · institution filed 2025-10-17 | 8.5% |
LINDNER CARL H III
13D · may seek influence
filed 2026-04-15
Stated purposeThe Reporting Person is the Co-Chief Executive Officer of AFG and also serves on the Board of Directors. In these capacities, Mr. Lindner has responsibility for AFG's management and strategic direction. Additionally, in his capacity as a shareholder of the Company, Mr. Lindner reviews his investment in the Company on a continuous basis. Mr. Lindner may from time to time acquire additional Common Shares or dispose of a portion of the Common Shares that he beneficially owns. Any transactions that Mr. Lindner may pursue may be made at any time and from time to time without prior notice and will depend upon a variety of factors, including, without limitation, other investment and business opportunities available to Mr. Lindner, tax and estate planning considerations and other factors. Othe… Full filing |
6.8% |
| FMR LLC 13G · institution -1.4 pts · filed 2026-08-06 | 6.5% |
LINDNER S CRAIG
13D · may seek influence
filed 2026-04-15
Stated purposeThe Reporting Person is the Co-Chief Executive Officer of AFG and also serves on the Board of Directors. In these capacities, Mr. Lindner has responsibility for AFG's management and strategic direction. Additionally, in his capacity as a shareholder of the Company, Mr. Lindner reviews his investment in the Company on a continuous basis. Mr. Lindner may from time to time acquire additional Common Shares or dispose of a portion of the Common Shares that he beneficially owns. Any transactions that Mr. Lindner may pursue may be made at any time and from time to time without prior notice and will depend upon a variety of factors, including, without limitation, other investment and business opportunities available to Mr. Lindner, tax and estate planning considerations and other factors. Other t… Full filing |
6.2% |
Fell to 5% or below in the last year: VANGUARD GROUP INC (0.0%, 2026-03-26)
Insider purchases and sales in Q3 2025
Shares bought or sold by the company's own officers, directors and 10% owners, in the open market or privately, as they reported to the SEC on Form 4 (due within two business days of the trade). Grants, option exercises, shares withheld for tax and gifts aren't included.
Officers and directors buying vs selling
Number of people, by quarter (10% owners not included)
Numbers
| Quarter | Buying | Bought | Selling | Sold | Sold under a plan |
|---|---|---|---|---|---|
| Q4 2023 | 0 | — | 2 | $423.3k | — |
| Q1 2024 | 0 | — | 5 | $1.9m | — |
| Q2 2024 | 1 | $150.2k | 0 | — | — |
| Q3 2024 | 0 | — | 0 | — | — |
| Q4 2024 | 0 | — | 0 | — | — |
| Q1 2025 | 1 | $363.0k | 1 | $319.5k | — |
| Q2 2025 | 0 | — | 0 | — | — |
| Q3 2025 | 0 | — | 2 | $1.5m | — |
| Date | Insider | Trade | Value |
|---|---|---|---|
| 2025-09-03 | Murray Amy Y Director | Sold | $125.7k920 shares |
| 2025-08-21 | Lindner Stephen Craig Jr Director · By Indirect #1 | Sold | $1.3m10.0k shares |
Their holding: how much the trade added to or took from the insider's holding (direct, or the trust or fund named). The same trade is sometimes reported by more than one insider, such as a fund and the director who represents it; totals count it once. A value is left blank where the reported price is far from the market price (usually a typo).
Holders, Q3 2025
| Manager | Shares | Change |
|---|---|---|
| VANGUARD GROUP INC 0.02% of their portfolio | 7.4m $1.1bn | Reduced -294.7k |
| BlackRock, Inc. 0.02% of their portfolio | 7.3m $1.1bn | Reduced -313.9k |
| FMR LLC 0.05% of their portfolio | 6.9m $1.0bn | Added +292.2k |
| VICTORY CAPITAL MANAGEMENT INC 0.25% of their portfolio | 3.0m $431.9m | Added +337.6k |
| STATE STREET CORP 0.01% of their portfolio | 2.7m $386.3m | Reduced -45.0k |
| CHARLES SCHWAB INVESTMENT MANAGEMENT INC 0.06% of their portfolio | 2.5m $365.8m | Reduced -54.9k |
| AMERICAN FINANCIAL GROUP INC 401(K) RETIREMENT & SAVINGS PLAN 100.00% of their portfolio | 2.4m $350.8m | Reduced -145.4k |
| GEODE CAPITAL MANAGEMENT, LLC 0.02% of their portfolio | 1.7m $248.0m | Added +13.6k |
| DIMENSIONAL FUND ADVISORS LP 0.04% of their portfolio | 1.1m $164.3m | Added +110.9k |
| NORTHERN TRUST CORP 0.02% of their portfolio | 1.0m $149.6m | Added +255.7k |
| ALLIANCEBERNSTEIN L.P. 0.05% of their portfolio | 998.8k $145.5m | Reduced -19.8k |
| Invesco Ltd. 0.02% of their portfolio | 922.2k $134.4m | Reduced -14.7k |
| Bank of New York Mellon Corp 0.02% of their portfolio | 871.3k $127.0m | Reduced -24.4k |
| MORGAN STANLEY 0.01% of their portfolio | 858.0k $125.0m | Reduced -54.1k |
| GOLDMAN SACHS GROUP INC 0.02% of their portfolio | 838.3k $122.2m | Added +228.9k |
| JPMORGAN CHASE & CO 0.00% of their portfolio | 815.5k $118.8m | Added +507.7k |
| Balyasny Asset Management L.P. 0.19% of their portfolio | 654.3k $95.3m | Added +571.7k |
| Woodline Partners LP 0.43% of their portfolio | 621.6k $90.6m | Added +229.1k |
| FORT WASHINGTON INVESTMENT ADVISORS INC /OH/ 0.48% of their portfolio | 607.6k $88.5m | Reduced -115 |
| JOHNSON INVESTMENT COUNSEL INC 0.72% of their portfolio | 591.7k $86.2m | Reduced -10.9k |
| Boston Trust Walden Corp 0.58% of their portfolio | 543.3k $79.2m | Reduced -37.4k |
| UBS Group AG 0.02% of their portfolio | 528.4k $77.0m | Added +58.8k |
| EULAV Asset Management 1.69% of their portfolio | 498.7k $72.7m | Reduced -30 |
| Bahl & Gaynor LLC 0.35% of their portfolio | 479.2k $69.8m | Reduced -40.1k |
| AMERIPRISE FINANCIAL INC 0.01% of their portfolio | 440.1k $64.1m | Added +15.3k |
| LORD, ABBETT & CO. LLC 0.18% of their portfolio | 419.0k $61.1m | Reduced -18.5k |
| UBS AM, a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC 0.01% of their portfolio | 407.2k $59.3m | Reduced -96.1k |
| JARISLOWSKY, FRASER Ltd 0.30% of their portfolio | 369.8k $53.9m | Reduced -3.6k |
| Wealthquest Corp 3.99% of their portfolio | 343.4k $50.0m | Unchanged |
| Allianz Asset Management GmbH 0.06% of their portfolio | 335.7k $48.9m | Added +29.6k |
| BANK OF AMERICA CORP /DE/ 0.00% of their portfolio | 292.9k $42.7m | Reduced -26.4k |
| LSV ASSET MANAGEMENT 0.09% of their portfolio | 291.1k $42.4m | Reduced -247.0k |
| ProShare Advisors LLC 0.08% of their portfolio | 278.3k $40.6m | Added +20.6k |
| Legal & General Group Plc 0.01% of their portfolio | 254.7k $37.1m | Added +2.7k |
| AQR CAPITAL MANAGEMENT LLC 0.02% of their portfolio | 218.1k $31.8m | Reduced -96.4k |
| Gillson Capital LP 2.71% of their portfolio | 214.6k $31.3m | Added +164.8k |
| RHUMBLINE ADVISERS 0.03% of their portfolio | 213.6k $31.1m | Reduced -2.1k |
| AMERICAN CENTURY COMPANIES INC 0.02% of their portfolio | 203.9k $29.7m | Added +21.6k |
| Man Group plc 0.06% of their portfolio | 198.5k $28.9m | Added +150.9k |
| Swiss National Bank 0.02% of their portfolio | 192.5k $28.1m | Reduced -10.1k |
| ROYAL BANK OF CANADA 0.00% of their portfolio | 170.4k $24.8m | Reduced -171.0k |
| Retirement Systems of Alabama 0.08% of their portfolio | 163.2k $23.8m | Reduced -4.1k |
| PRINCIPAL FINANCIAL GROUP INC 0.01% of their portfolio | 158.2k $23.1m | Reduced -9.0k |
| Amundi 0.01% of their portfolio | 151.1k $22.3m | Reduced -134.5k |
| Sumitomo Mitsui Trust Group, Inc. 0.01% of their portfolio | 150.9k $22.0m | Added +974 |
| California Public Employees Retirement System 0.01% of their portfolio | 144.7k $21.1m | Reduced -20.6k |
| Universal- Beteiligungs- und Servicegesellschaft mbH 0.03% of their portfolio | 144.2k $21.0m | Reduced -3.7k |
| FIRST TRUST ADVISORS LP 0.02% of their portfolio | 141.3k $20.6m | Added +49.9k |
| Freestone Grove Partners LP 0.14% of their portfolio | 132.9k $19.4m | Added +129.8k |
| MANUFACTURERS LIFE INSURANCE COMPANY, THE 0.02% of their portfolio | 132.5k $19.3m | Added +9.0k |
| Curi Capital, LLC 0.35% of their portfolio | 131.1k $19.1m | Reduced -4.6k |
| WELLINGTON MANAGEMENT GROUP LLP 0.00% of their portfolio | 129.6k $18.9m | Added +61.1k |
| FIL Ltd 0.01% of their portfolio | 125.0k $18.2m | Reduced -150.0k |
| Gotham Asset Management, LLC 0.08% of their portfolio | 123.5k $18.0m | Added +8.4k |
| BARCLAYS PLC 0.01% of their portfolio | 121.5k $17.7m | Added +44.1k |
| BNP PARIBAS FINANCIAL MARKETS 0.01% of their portfolio | 114.9k $16.7m | Added +63.9k |
| BRIDGES INVESTMENT MANAGEMENT INC 0.20% of their portfolio | 106.9k $15.6m | Added +2.8k |
| Alyeska Investment Group, L.P. 0.04% of their portfolio | 100.0k $14.6m | New |
| DEUTSCHE BANK AG\ 0.00% of their portfolio | 94.9k $13.8m | Added +5.6k |
| CALIFORNIA STATE TEACHERS RETIREMENT SYSTEM 0.01% of their portfolio | 91.4k $13.3m | Added +6.5k |
| Brandywine Global Investment Management, LLC 0.09% of their portfolio | 89.4k $13.0m | Reduced -5.4k |
| Nuveen, LLC 0.00% of their portfolio | 89.1k $13.0m | Reduced -26.0k |
| MILLENNIUM MANAGEMENT LLC 0.01% of their portfolio | 86.1k $12.5m | Added +60.3k |
| TWO SIGMA INVESTMENTS, LP 0.02% of their portfolio | 82.0k $12.0m | Reduced -23.6k |
| ARROWSTREET CAPITAL, LIMITED PARTNERSHIP 0.01% of their portfolio | 79.7k $11.6m | Reduced -20.4k |
| BANK OF MONTREAL /CAN/ 0.00% of their portfolio | 74.6k $10.9m | Reduced -11.2k |
| Bridgewater Associates, LP 0.04% of their portfolio | 72.8k $10.6m | Added +38.7k |
| Cambria Investment Management, L.P. 0.64% of their portfolio | 72.3k $10.5m | Reduced -5.0k |
| NEW YORK STATE TEACHERS RETIREMENT SYSTEM 0.02% of their portfolio | 69.3k $10.1m | Unchanged |
| CANADA LIFE ASSURANCE Co 0.01% of their portfolio | 67.8k $9.8m | Reduced -13 |
| Mirae Asset Global Investments Co., Ltd. 0.03% of their portfolio | 65.0k $9.5m | Reduced -681 |
| Rakuten Investment Management, Inc. 0.08% of their portfolio | 64.7k $22.2m | First filing |
| Mitsubishi UFJ Asset Management Co., Ltd. 0.01% of their portfolio | 64.6k $9.4m | Unchanged |
| GATEWAY INVESTMENT ADVISERS LLC 0.09% of their portfolio | 62.8k $9.1m | Reduced -12 |
| Philadelphia Financial Management of San Francisco, LLC 1.80% of their portfolio | 61.7k $9.0m | New |
| STATE BOARD OF ADMINISTRATION OF FLORIDA RETIREMENT SYSTEM 0.02% of their portfolio | 60.0k $8.7m | Reduced -1.0k |
| MUTUAL OF AMERICA CAPITAL MANAGEMENT LLC 0.09% of their portfolio | 57.2k $8.3m | Reduced -13.3k |
| HSBC HOLDINGS PLC 0.00% of their portfolio | 56.7k $8.3m | Reduced -159.3k |
| PRICE T ROWE ASSOCIATES INC /MD/ 0.00% of their portfolio | 54.8k $8.0m | Added +529 |
| SUMMIT WEALTH GROUP LLC / CO 1.40% of their portfolio | 53.1k $13.2m | New |
| Janney Montgomery Scott LLC 0.02% of their portfolio | 51.7k $7.5m | Reduced -580 |
| REINHART PARTNERS, LLC. 0.24% of their portfolio | 51.6k $7.5m | Reduced -2.2k |
| Allworth Financial LP 0.03% of their portfolio | 49.7k $7.2m | Added +3.2k |
| DANSKE BANK A/S 0.02% of their portfolio | 49.1k $7.2m | Added +5.4k |
| WELLS FARGO & COMPANY/MN 0.00% of their portfolio | 47.4k $6.9m | Reduced -8.4k |
| STOREBRAND ASSET MANAGEMENT AS 0.02% of their portfolio | 47.2k $6.9m | Added +896 |
| Russell Investments Group, Ltd. 0.01% of their portfolio | 46.8k $6.8m | Reduced -6.2k |
| Holocene Advisors, LP 0.01% of their portfolio | 43.2k $6.3m | Reduced -23.7k |
| MACQUARIE GROUP LTD 0.01% of their portfolio | 42.6k $6.2m | Reduced -749 |
| Northwest & Ethical Investments L.P. 0.14% of their portfolio | 41.6k $6.1m | Added +26 |
| APG Asset Management N.V. 0.01% of their portfolio | 41.5k $5.1m | Unchanged |
| Stenham Asset Management (UK) Plc 6.42% of their portfolio | 41.3k $6.0m | First filing |
| VIKING FUND MANAGEMENT LLC 0.72% of their portfolio | 41.0k $6.0m | Unchanged |
| Lighthouse Investment Partners, LLC 0.21% of their portfolio | 40.5k $5.9m | Reduced -48.8k |
| CITIGROUP INC 0.00% of their portfolio | 39.3k $5.7m | Reduced -2.4k |
| Asset Management One Co., Ltd. 0.02% of their portfolio | 38.8k $5.6m | Reduced -5.6k |
| Federation des caisses Desjardins du Quebec 0.02% of their portfolio | 38.5k $5.6m | Added +5.3k |
| NISA INVESTMENT ADVISORS, LLC 0.02% of their portfolio | 38.3k $5.6m | Reduced -1.7k |
| Sovereign's Capital Management, LLC 2.92% of their portfolio | 36.9k $5.4m | Reduced -139 |
| Creative Planning 0.00% of their portfolio | 36.8k $5.4m | Added +6.6k |