Vault-13

DONEGAL GROUP INC DGICA

CL A · Common Stock · CUSIP 257701201

97 institutional holders +8 vs Q1 2024
9,637,0629.6m shares reported held*
$124.1mreported value*
18 new 35 added 28 reduced 11 sold out net sold ≈ $5.8m (-448.4k shares)

* 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 ($1.5m this quarter). Holder counts are more reliable. Implied quarter-end price ≈ $12.88. Options: 1 managers hold calls ($0 notional), 1 hold puts ($0).

Trends to Q2 2024

Institutional holders

Managers reporting a position, each quarter

050100Q3 22: 92Q4 22: 97Q1 23: 90Q2 23: 88Q3 23: 86Q4 23: 89Q1 24: 89Q2 24: 9797Q3 22Q1 23Q3 23Q1 24Q2 24
Numbers
QuarterHolders
Q3 202292
Q4 202297
Q1 202390
Q2 202388
Q3 202386
Q4 202389
Q1 202489
Q2 202497

Buyers vs sellers

Managers adding to or starting a position, vs cutting or selling out

Bought or addedCut or sold out
1000100Q4 22: 41 bought or addedQ4 22: 46 cut or sold outQ4 22Q1 23: 36 bought or addedQ1 23: 42 cut or sold outQ2 23: 27 bought or addedQ2 23: 43 cut or sold outQ2 23Q3 23: 33 bought or addedQ3 23: 34 cut or sold outQ4 23: 33 bought or addedQ4 23: 34 cut or sold outQ4 23Q1 24: 35 bought or addedQ1 24: 43 cut or sold outQ2 24: 53 bought or addedQ2 24: 39 cut or sold outQ2 24
Numbers
QuarterBought or addedCut or sold out
Q4 20224146
Q1 20233642
Q2 20232743
Q3 20233334
Q4 20233334
Q1 20243543
Q2 20245339

Calls vs puts

Options held, notional value, last 4 quarters. P/C = puts ÷ calls

CallsPuts
$0$2.5k$5k$7.5k$10kQ3 23 calls: $0Q3 23 puts: $0Q3 23P/C —Q4 23 calls: $8.4kQ4 23 puts: $2.8kQ4 23P/C 0.33Q1 24 calls: $0Q1 24 puts: $0Q1 24P/C —Q2 24 calls: $0Q2 24 puts: $0Q2 24P/C —
Numbers
QuarterCallsPutsP/C
Q3 2023$0$0—
Q4 2023$8.4k$2.8k0.33
Q1 2024$0$0—
Q2 2024$0$0—

Biggest buyers

Biggest sellers

MORGAN STANLEY Reduced -382,939-382.9k
VANGUARD GROUP INC Reduced -147,257-147.3k
Empowered Funds, LLC Reduced -102,576-102.6k
DIMENSIONAL FUND ADVISORS LP Reduced -38,557-38.6k
Ategra Capital Management, LLC Reduced -22,219-22.2k
WEDBUSH SECURITIES INC Reduced -11,775-11.8k
Mariner, LLC Sold out -11,027-11.0k
Lewis Asset Management, LLC Sold out -10,902-10.9k
TEACHER RETIREMENT SYSTEM OF TEXAS Reduced -8,432-8.4k
UBS Group AG Reduced -7,996-8.0k

Biggest calls

Biggest puts

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.

HolderStakeChangeShares Last filed
DIMENSIONAL FUND ADVISORS LP 13G · institution filed 2026-01-21 5.6% 1.7m≈ $32.6m 2026-01-21

Fell to 5% or below in the last year: BlackRock, Inc. (4.9%, 2026-10-27)

Insider purchases and sales in Q2 2024

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)

BuyingSelling
10010Q3 22: 1 buyingQ3 22: 2 sellingQ4 22: 0 buyingQ4 22: 7 sellingQ4 22Q1 23: 0 buyingQ1 23: 3 sellingQ2 23: 1 buyingQ2 23: 4 sellingQ2 23Q3 23: 0 buyingQ3 23: 2 sellingQ4 23: 0 buyingQ4 23: 1 sellingQ4 23Q1 24: 0 buyingQ1 24: 0 sellingQ2 24: 0 buyingQ2 24: 0 sellingQ2 24
Numbers
QuarterBuyingBoughtSellingSoldSold under a plan
Q3 20221$43.3k2$1.1m—
Q4 20220—7$2.0m—
Q1 20230—3$997.9k—
Q2 20231$584$2.1m—
Q3 20230—2$155.4k—
Q4 20230—1$192.9k—
Q1 20240—0——
Q2 20240—0——

None reported in Q2 2024.

Holders, Q2 2024

#ManagerLocationShares Value% of their portfolioChangeShares change
1 DIMENSIONAL FUND ADVISORS LP 0.01% of their portfolio AUSTIN, TX 1,785,6651.8m $23.0m $23.0m 0.01% Reduced -38.6k -38,557
2 BlackRock Inc. 0.00% of their portfolio New York, NY 1,642,5681.6m $21.2m $21.2m 0.00% Added +47.7k +47,739
3 VANGUARD GROUP INC 0.00% of their portfolio Valley Forge, PA 1,035,7481.0m $13.3m $13.3m 0.00% Reduced -147.3k -147,257
4 OLD REPUBLIC INTERNATIONAL CORP 0.22% of their portfolio CHICAGO, IL 425,500425.5k $5.5m $5.5m 0.22% Unchanged
5 GEODE CAPITAL MANAGEMENT, LLC 0.00% of their portfolio BOSTON, MA 359,380359.4k $4.6m $4.6m 0.00% Added +8.8k +8,756
6 RENAISSANCE TECHNOLOGIES LLC 0.01% of their portfolio NEW YORK, NY 340,911340.9k $4.4m $4.4m 0.01% Reduced -5.3k -5,300
7 STATE STREET CORP 0.00% of their portfolio BOSTON, MA 330,142330.1k $4.3m $4.3m 0.00% Reduced -1.8k -1,805
8 PHILADELPHIA TRUST CO 0.27% of their portfolio PHILADELPHIA, PA 268,765268.8k $3.5m $3.5m 0.27% Reduced -8.0k -7,950
9 BRIDGEWAY CAPITAL MANAGEMENT, LLC 0.07% of their portfolio HOUSTON, TX 242,856242.9k $3.1m $3.1m 0.07% Added +8.6k +8,640
10 Foundry Partners, LLC 0.17% of their portfolio MINNEAPOLIS, MN 242,290242.3k $3.1m $3.1m 0.17% Reduced -3.1k -3,150
11 CALDWELL SUTTER CAPITAL, INC. 1.49% of their portfolio SAUSALITO, CA 233,181233.2k $3.0m $3.0m 1.49% Added +5.5k +5,461
12 WELLS FARGO & COMPANY/MN 0.00% of their portfolio SAN FRANCISCO, CA 226,235226.2k $2.9m $2.9m 0.00% Added +1.1k +1,143
13 LOGAN CAPITAL MANAGEMENT INC 0.12% of their portfolio Newtown Square, PA 223,703223.7k $2.9m $2.9m 0.12% Unchanged
14 KENNEDY CAPITAL MANAGEMENT LLC 0.06% of their portfolio ST LOUIS, MO 204,322204.3k $2.6m $2.6m 0.06% Reduced -877 -877
15 MORGAN STANLEY 0.00% of their portfolio NEW YORK, NY 174,524174.5k $2.2m $2.2m 0.00% Reduced -382.9k -382,939
16 NORTHERN TRUST CORP 0.00% of their portfolio CHICAGO, IL 167,118167.1k $2.2m $2.2m 0.00% Added +7.4k +7,374
17 Keeley-Teton Advisors, LLC 0.24% of their portfolio Chicago, IL 143,354143.4k $1.8m $1.8m 0.24% Added +69 +69
18 Bank of New York Mellon Corp 0.00% of their portfolio NEW YORK, NY 129,551129.6k $1.7m $1.7m 0.00% Added +5.4k +5,416
19 Empowered Funds, LLC 0.03% of their portfolio NEWTOWN SQUARE, PA 119,856119.9k $1.5m $1.5m 0.03% Reduced -102.6k -102,576
20 JACOBS LEVY EQUITY MANAGEMENT, INC 0.00% of their portfolio FLORHAM PARK, NJ 89,09389.1k $1.1m $1.1m 0.00% Added +13.3k +13,260
21 JPMORGAN CHASE & CO 0.00% of their portfolio NEW YORK, NY 74,00674.0k $953.2k $953.2k 0.00% Reduced -6.7k -6,720
22 CANNELL CAPITAL LLC 0.22% of their portfolio ALTA, WY 72,10072.1k $928.6k $928.6k 0.22% Added +12.6k +12,638
23 Brandywine Global Investment Management, LLC 0.01% of their portfolio PHILADELPHIA, PA 69,99470.0k $901.5k $901.5k 0.01% Reduced -3.3k -3,253
24 Invesco Ltd. 0.00% of their portfolio ATLANTA, GA 59,62459.6k $768.0k $768.0k 0.00% Added +6.1k +6,083
25 Connor, Clark & Lunn Investment Management Ltd. 0.00% of their portfolio VANCOUVER, A1 57,81057.8k $744.6k $744.6k 0.00% Added +16.6k +16,643
26 TWO SIGMA ADVISERS, LP 0.00% of their portfolio NEW YORK, NY 55,50055.5k $714.8k $714.8k 0.00% Added +15.4k +15,400
27 GOLDMAN SACHS GROUP INC 0.00% of their portfolio NEW YORK, NY 54,46154.5k $701.5k $701.5k 0.00% Added +8.9k +8,918
28 TWO SIGMA INVESTMENTS, LP 0.00% of their portfolio NEW YORK, NY 49,19849.2k $633.7k $633.7k 0.00% Added +6.2k +6,241
29 BARCLAYS PLC 0.00% of their portfolio LONDON, X0 46,82046.8k $603.0k $603.0k 0.00% Reduced -2.7k -2,706
30 Minerva Advisors LLC 0.40% of their portfolio BALA CYNWYD, PA 46,49046.5k $596.5k $596.5k 0.40% Unchanged
31 CHARLES SCHWAB INVESTMENT MANAGEMENT INC 0.00% of their portfolio SAN FRANCISCO, CA 44,99445.0k $579.5k $579.5k 0.00% Added +4.3k +4,285
32 Dakota Wealth Management 0.01% of their portfolio PALM BEACH GARDENS, FL 44,73744.7k $576.2k $576.2k 0.01% Unchanged
33 UBS AM, a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC 0.00% of their portfolio NEW YORK, NY 43,64243.6k $562.1k $562.1k 0.00% Added +22.1k +22,115
34 LOS ANGELES CAPITAL MANAGEMENT LLC 0.00% of their portfolio LOS ANGELES, CA 40,40740.4k $520.4k $520.4k 0.00% Added +19.7k +19,707
35 Squarepoint Ops LLC 0.00% of their portfolio NEW YORK, NY 34,81734.8k $448.4k $448.4k 0.00% New
36 WEDBUSH SECURITIES INC 0.02% of their portfolio PASADENA, CA 33,02033.0k $425.0k $425.0k 0.02% Reduced -11.8k -11,775
37 Swiss National Bank 0.00% of their portfolio ZURICH, V8 32,60032.6k $419.9k $419.9k 0.00% Unchanged
38 HSBC HOLDINGS PLC 0.00% of their portfolio LONDON, X0 31,09131.1k $388.9k $388.9k 0.00% Added +2.2k +2,250
39 Nuveen Asset Management, LLC 0.00% of their portfolio CHICAGO, IL 28,31528.3k $364.7k $364.7k 0.00% Added +2.3k +2,294
40 RHUMBLINE ADVISERS 0.00% of their portfolio BOSTON, MA 25,30225.3k $325.9k $325.9k 0.00% Added +222 +222
41 ALLIANCEBERNSTEIN L.P. 0.00% of their portfolio NASHVILLE, TN 24,49424.5k $315.5k $315.5k 0.00% Added +3.0k +2,980
42 TEACHER RETIREMENT SYSTEM OF TEXAS 0.00% of their portfolio AUSTIN, TX 24,04224.0k $310.0k $310.0k 0.00% Reduced -8.4k -8,432
43 MILLENNIUM MANAGEMENT LLC 0.00% of their portfolio NEW YORK, NY 22,43622.4k $289.0k $289.0k 0.00% New
44 Allspring Global Investments Holdings, LLC 0.00% of their portfolio CHARLOTTE, NC 21,86221.9k $281.6k $281.6k 0.00% Reduced -3.8k -3,846
45 MARTINGALE ASSET MANAGEMENT L P 0.01% of their portfolio BOSTON, MA 21,45121.5k $276.3k $276.3k 0.01% Added +800 +800
46 Trexquant Investment LP 0.00% of their portfolio STAMFORD, CT 19,70719.7k $253.8k $253.8k 0.00% New
47 Legal & General Group Plc 0.00% of their portfolio London, X0 19,03419.0k $245.2k $245.2k 0.00% Added +7.3k +7,333
48 JANE STREET GROUP, LLC 0.00% of their portfolio NEW YORK, NY 18,43318.4k $237.4k $237.4k 0.00% New
49 AMERICAN CENTURY COMPANIES INC 0.00% of their portfolio KANSAS CITY, MO 18,41618.4k $237.2k $237.2k 0.00% Reduced -88 -88
50 Ategra Capital Management, LLC 0.20% of their portfolio VIENNA, VA 17,71517.7k $228.2k $228.2k 0.20% Reduced -22.2k -22,219
51 Ancora Advisors LLC 0.01% of their portfolio Cleveland, OH 17,48117.5k $225.2k $225.2k 0.01% Unchanged
52 BANK OF AMERICA CORP /DE/ 0.00% of their portfolio CHARLOTTE, NC 17,28217.3k $222.6k $222.6k 0.00% Added +5.1k +5,088
53 CALIFORNIA STATE TEACHERS RETIREMENT SYSTEM 0.00% of their portfolio WEST SACRAMENTO, CA 16,16016.2k $208.1k $208.1k 0.00% Reduced -187 -187
54 Virtus Investment Advisers, LLC 0.17% of their portfolio HARTFORD, CT 15,66515.7k $201.8k $201.8k 0.17% Unchanged
55 EntryPoint Capital, LLC 0.09% of their portfolio NEW YORK, NY 14,60914.6k $188.2k $188.2k 0.09% Added +4.9k +4,911
56 Janney Montgomery Scott LLC 0.00% of their portfolio PHILADELPHIA, PA 10,62510.6k $137.0k $137.0k 0.00% Reduced -6.5k -6,500
57 STIFEL FINANCIAL CORP 0.00% of their portfolio ST. LOUIS, MO 10,00010.0k $128.8k $128.8k 0.00% Unchanged
58 UBS Group AG 0.00% of their portfolio ZURICH, V8 9,99110.0k $128.7k $128.7k 0.00% Reduced -8.0k -7,996
59 ROYAL BANK OF CANADA 0.00% of their portfolio TORONTO, A6 9,3299.3k $121.0k $121.0k 0.00% Added +1.1k +1,112
60 MetLife Investment Management, LLC 0.00% of their portfolio Whippany, NJ 8,8908.9k $114.5k $114.5k 0.00% Added +873 +873
61 CITIGROUP INC 0.00% of their portfolio NEW YORK, NY 8,6458.6k $111.3k $111.3k 0.00% Added +1.5k +1,452
62 Corebridge Financial, Inc. 0.00% of their portfolio HOUSTON, TX 8,3178.3k $107.1k $107.1k 0.00% First filing
63 MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. 0.00% of their portfolio CAUSEWAY BAY, K3 8,1358.1k $104.8k $104.8k 0.00% First filing
64 OSAIC HOLDINGS, INC. 0.00% of their portfolio SCOTTSDALE, AZ 5,8905.9k $75.9k $75.9k 0.00% Added +1.3k +1,252
65 DEUTSCHE BANK AG\ 0.00% of their portfolio FRANKFURT AM MAIN, 2M 5,6915.7k $73.3k $73.3k 0.00% New
66 PhiloSmith Capital Corp 0.02% of their portfolio STAMFORD, CT 5,1925.2k $66.9k $66.9k 0.02% Unchanged
67 PUBLIC EMPLOYEES RETIREMENT SYSTEM OF OHIO 0.00% of their portfolio COLUMBUS, OH 4,8344.8k $62.3k $62.3k 0.00% Reduced -293 -293
68 NEW YORK STATE COMMON RETIREMENT FUND 0.00% of their portfolio ALBANY, NY 4,7664.8k $61.4k $61.4k 0.00% Reduced -5 -5
69 Tower Research Capital LLC (TRC) 0.00% of their portfolio NEW YORK, NY 4,0464.0k $52.1k $52.1k 0.00% Added +4.0k +3,964
70 SALEM INVESTMENT COUNSELORS INC 0.00% of their portfolio WINSTON-SALEM, NC 3,7603.8k $48.4k $48.4k 0.00% Unchanged
71 Zurcher Kantonalbank (Zurich Cantonalbank) 0.00% of their portfolio ZURICH, V8 3,3253.3k $42.8k $42.8k 0.00% Unchanged
72 BNP PARIBAS FINANCIAL MARKETS 0.00% of their portfolio PARIS, I0 3,2593.3k $42.0k $42.0k 0.00% Reduced -7.1k -7,105
73 Russell Investments Group, Ltd. 0.00% of their portfolio Seattle, WA 3,1603.2k $40.7k $40.7k 0.00% Added +41 +41
74 FMR LLC 0.00% of their portfolio BOSTON, MA 2,8232.8k $36.4k $36.4k 0.00% Added +2.6k +2,557
75 Mitsubishi UFJ Asset Management Co., Ltd. 0.00% of their portfolio TOKYO, M0 2,7072.7k $34.9k $34.9k 0.00% New
76 State of Wyoming 0.01% of their portfolio CHEYENNE, WY 2,5832.6k $33.3k $33.3k 0.01% Added +167 +167
77 CANADA LIFE ASSURANCE Co 0.00% of their portfolio WINNIPEG, A2 2,5192.5k $33.0k $33.0k 0.00% Added +332 +332
78 INNEALTA CAPITAL, LLC 0.01% of their portfolio AUSTIN, TX 2,1212.1k $27.3k $27.3k 0.01% New
79 Ameritas Investment Partners, Inc. 0.00% of their portfolio LINCOLN, NE 1,5161.5k $19.5k $19.5k 0.00% Unchanged
80 US BANCORP \DE\ 0.00% of their portfolio MINNEAPOLIS, MN 1,0491.0k $13.5k $13.5k 0.00% New
81 DANSKE BANK A/S 0.00% of their portfolio COPENHAGEN V, G7 1,0001.0k $12.9k $12.9k 0.00% New
82 PNC Financial Services Group, Inc. 0.00% of their portfolio Pittsburgh, PA 927927 $11.9k $11.9k 0.00% Reduced -20 -20
83 CWM, LLC 0.00% of their portfolio OMAHA, NE 848848 $11.0k $11.0k 0.00% Reduced -1.3k -1,349
84 EverSource Wealth Advisors, LLC 0.00% of their portfolio BIRMINGHAM, AL 646646 $9.5k $9.5k 0.00% New
85 AMALGAMATED BANK 0.00% of their portfolio NEW YORK, NY 515515 $7.0k $7.0k 0.00% Unchanged
86 M&R CAPITAL MANAGEMENT INC 0.00% of their portfolio SUMMIT, NJ 500500 $6.4k $6.4k 0.00% Reduced -409 -409
87 GAMMA Investing LLC 0.00% of their portfolio FOSTER CITY, CA 262262 $3.4k $3.4k 0.00% New
88 Capital Advisors, Ltd. LLC 0.00% of their portfolio SHAKER HEIGHTS, OH 158158 $2.0k $2.0k 0.00% New
89 HighMark Wealth Management LLC 0.00% of their portfolio ST. PAUL, MN 113113 $1.5k $1.5k 0.00% New
90 Qube Research & Technologies Ltd 0.00% of their portfolio LONDON, X0 8383 $1.1k $1.1k 0.00% New
91 Avion Wealth 0.00% of their portfolio THE WOODLANDS, TX 7575 $0 $0 0.00% New
92 HUNTINGTON NATIONAL BANK 0.00% of their portfolio COLUMBUS, OH 6060 $772 $772 0.00% Reduced -783 -783
93 Smartleaf Asset Management LLC 0.00% of their portfolio BOSTON, MA 3838 $478 $478 0.00% New
94 MassMutual Private Wealth & Trust, FSB 0.00% of their portfolio Windsor, CT 2121 $270 $270 0.00% Reduced -43 -43
95 Covestor Ltd 0.00% of their portfolio LONDON, X0 1515 $0 $0 0.00% New
96 NISA INVESTMENT ADVISORS, LLC 0.00% of their portfolio ST. LOUIS, MO 77 $90 $90 0.00% New
97 CONCOURSE FINANCIAL GROUP SECURITIES, INC. 0.00% of their portfolio BIRMINGHAM, AL 00 $0 $0 0.00% Unchanged