Institutional HoldersBeta

Who holds a company, from every 13F filed for the quarter, one row per filer exactly as filed, against the latest share count the company reported.

DONEGAL GROUP INC

CIK 0000800457DGICADGICB· quarter ending 2026-06-30

Shares outstanding

37,119,282

as of 2026-07-31 · 10-Q cover page, filed 2026-08-04

Held by 13F filers

13,589,979

43.1% of Common Class A

Holders

153

-3 vs 2026-03-31 · 20 new, 23 exited

Value

$256.3M

shares +5.2% vs prior quarter

Share classes (cover page of the 10-Q filed 2026-08-04, as of 2026-07-31)

Class	Listed	Shares outstanding	Held by 13F filers	% of class	Holders	CUSIP
Common Class A	DGICA · NASDAQ	31,542,507	13,589,979	43.1%	153	257701201
Common Class B	DGICB · NASDAQ	5,576,775	435,246	7.8%	11	257701300

Each class is compared with its own share count; classes are not added together. A class that is not exchange-listed cannot be held by 13F filers.

Securities (CUSIPs held in 13F this quarter)

tick to combine

Count	CUSIP	Class (as filers write it)	Holders	Shares held	Class shares	% of class	Value	Options	Mapped via
	257701201	CL A	153	13,589,979	31,542,507	43.1%	$256.3M	—	13DG	holders →
	257701300	CL B	11	435,246	5,576,775	7.8%	$9.5M	—	prefix	holders →

Totals combine the ticked CUSIPs and update as you tick: common-stock classes by default; preferreds, notes, warrants and depositary shares are listed but not counted. "holders →" shows a single CUSIP on its own. Bonds are held as a principal amount, not shares. Options positions are never counted as holdings.

Top holders (153 of 153 · 257701201)

change vs 2026-03-31

#	Filer	Shares	% of class	Value	Change
1	BlackRock, Inc.	2,169,284	6.88%	$40.9M	+262,498 (+13.8%)
2	DIMENSIONAL FUND ADVISORS LP	1,809,165	5.74%	$34.1M	+71,899 (+4.1%)
3	VANGUARD CAPITAL MANAGEMENT LLC	706,706	2.24%	$13.3M	-42,449 (-5.7%)
4	GEODE CAPITAL MANAGEMENT, LLC	596,546	1.89%	$11.3M	+40,594 (+7.3%)
5	AMERICAN CENTURY COMPANIES INC	469,881	1.49%	$8.9M	+73,902 (+18.7%)
6	OLD REPUBLIC INTERNATIONAL CORP	425,500	1.35%	$8.0M	—
7	STATE STREET CORP	406,603	1.29%	$7.7M	+14,035 (+3.6%)
8	RENAISSANCE TECHNOLOGIES LLC	359,911	1.14%	$6.8M	-32,800 (-8.4%)
9	MORGAN STANLEY	330,680	1.05%	$6.2M	+48,962 (+17.4%)
10	Connor, Clark & Lunn Investment Management Ltd.	322,288	1.02%	$6.1M	-25,358 (-7.3%)
11	CSM Advisors, LLC	289,040	0.92%	$5.5M	+110,960 (+62.3%)
12	ARROWSTREET CAPITAL, LIMITED PARTNERSHIP	267,074	0.85%	$5.0M	-9,163 (-3.3%)
13	GOLDMAN SACHS GROUP INC	259,723	0.82%	$4.9M	+101,346 (+64.0%)
14	CALDWELL SUTTER CAPITAL, INC.	226,439	0.72%	$4.3M	+14,136 (+6.7%)
15	LOGAN CAPITAL MANAGEMENT INC	223,703	0.71%	$4.2M	NEW
16	PHILADELPHIA TRUST CO	223,650	0.71%	$4.2M	-11,950 (-5.1%)
17	WELLS FARGO & COMPANY/MN	217,942	0.69%	$4.1M	+7,974 (+3.8%)
18	ROYCE & ASSOCIATES LP	209,183	0.66%	$3.9M	+11,208 (+5.7%)
19	TWO SIGMA INVESTMENTS, LP	197,233	0.63%	$3.7M	+19,591 (+11.0%)
20	AQR CAPITAL MANAGEMENT LLC	170,415	0.54%	$3.2M	-1,728 (-1.0%)
21	NORTHERN TRUST CORP	169,734	0.54%	$3.2M	+9,746 (+6.1%)
22	Bank of New York Mellon Corp	167,590	0.53%	$3.2M	+974 (+0.6%)
23	VANGUARD PORTFOLIO MANAGEMENT LLC	167,046	0.53%	$3.2M	+12,777 (+8.3%)
24	Creative Planning	159,860	0.51%	$3.0M	+36,100 (+29.2%)
25	Qube Research & Technologies Ltd	143,443	0.45%	$2.7M	-98,247 (-40.7%)
26	CHARLES SCHWAB INVESTMENT MANAGEMENT INC	142,414	0.45%	$2.7M	+2,894 (+2.1%)
27	BRIDGEWAY CAPITAL MANAGEMENT, LLC	136,781	0.43%	$2.6M	—
28	VANGUARD FIDUCIARY TRUST CO	113,689	0.36%	$2.1M	+6,716 (+6.3%)
29	TEACHER RETIREMENT SYSTEM OF TEXAS	112,113	0.36%	$2.1M	-22,614 (-16.8%)
30	CITADEL ADVISORS LLC	110,704	0.35%	$2.1M	+48,076 (+76.8%)
31	MILLENNIUM MANAGEMENT LLC	105,245	0.33%	$2.0M	-77,375 (-42.4%)
32	RAYMOND JAMES FINANCIAL INC	100,638	0.32%	$1.9M	+48,005 (+91.2%)
33	JACOBS LEVY EQUITY MANAGEMENT, INC	100,095	0.32%	$1.9M	-29,132 (-22.5%)
34	PINNACLE ASSOCIATES LTD	92,874	0.29%	$1.8M	+2,279 (+2.5%)
35	Empowered Funds, LLC	90,606	0.29%	$1.7M	—
36	Trexquant Investment LP	89,951	0.29%	$1.7M	+39,846 (+79.5%)
37	CANNELL CAPITAL LLC	82,939	0.26%	$1.6M	—
38	D. E. Shaw & Co., Inc.	75,242	0.24%	$1.4M	NEW
39	BANK OF AMERICA CORP /DE/	71,501	0.23%	$1.3M	-2,319 (-3.1%)
40	Quantinno Capital Management LP	63,179	0.20%	$1.2M	+11,514 (+22.3%)
41	NORGES BANK	61,000	0.19%	$1.2M	NEW
42	VICTORY CAPITAL MANAGEMENT INC	58,000	0.18%	$1.1M	NEW
43	FRANKLIN RESOURCES INC	57,561	0.18%	$1.1M	+2,213 (+4.0%)
44	FIRST TRUST ADVISORS LP	56,519	0.18%	$1.1M	+3,095 (+5.8%)
45	Numerai GP LLC	47,915	0.15%	$904K	NEW
46	Campbell & CO Investment Adviser LLC	46,767	0.15%	$882K	+651 (+1.4%)
47	Minerva Advisors LLC	46,490	0.15%	$877K	—
48	UBS Group AG	46,045	0.15%	$868K	-64,081 (-58.2%)
49	MML INVESTORS SERVICES, LLC	45,443	0.14%	$857K	+2,602 (+6.1%)
50	Empirical Financial Services, LLC d.b.a. Empirical Wealth Management	44,875	0.14%	$846K	+8,126 (+22.1%)
51	HRT FINANCIAL LP	42,103	0.13%	$794K	+26,513 (+170.1%)
52	UBS AM, a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC	40,168	0.13%	$758K	-1,966 (-4.7%)
53	BARCLAYS PLC	40,114	0.13%	$757K	-1,172 (-2.8%)
54	Nuveen, LLC	39,019	0.12%	$736K	+18,516 (+90.3%)
55	MARTINGALE ASSET MANAGEMENT L P	38,121	0.12%	$719K	+3,996 (+11.7%)
56	Swiss National Bank	34,700	0.11%	$654K	+1,200 (+3.6%)
57	AMERIPRISE FINANCIAL INC	34,339	0.11%	$648K	+7,428 (+27.6%)
58	PANAGORA ASSET MANAGEMENT INC	30,411	0.10%	$574K	NEW
59	Invesco Ltd.	29,850	0.09%	$563K	-7,034 (-19.1%)
60	ALLIANCEBERNSTEIN L.P.	24,844	0.08%	$427K	+2,800 (+12.7%)
61	ExodusPoint Capital Management, LP	21,372	0.07%	$403K	NEW
62	RHUMBLINE ADVISERS	21,190	0.07%	$400K	+1,162 (+5.8%)
63	WEALTH ENHANCEMENT ADVISORY SERVICES, LLC	20,946	0.07%	$395K	+866 (+4.3%)
64	COMMONWEALTH EQUITY SERVICES, LLC	19,954	0.06%	$376K	+3,911 (+24.4%)
65	PUBLIC EMPLOYEES RETIREMENT SYSTEM OF OHIO	18,222	0.06%	$344K	+6,007 (+49.2%)
66	VANGUARD ASSET MANAGEMENT, Ltd	17,556	0.06%	$331K	+8,806 (+100.6%)
67	DEUTSCHE BANK AG\	17,465	0.06%	$329K	+2,400 (+15.9%)
68	Orion Porfolio Solutions, LLC	15,313	0.05%	$289K	+4,146 (+37.1%)
69	US BANCORP \DE\	15,231	0.05%	$287K	+27 (+0.2%)
70	Pinnacle Wealth Management Advisory Group, LLC	15,130	0.05%	$285K	-8,276 (-35.4%)
71	FIDELIS CAPITAL PARTNERS, LLC	15,108	0.05%	$285K	NEW
72	CALIFORNIA STATE TEACHERS RETIREMENT SYSTEM	14,751	0.05%	$278K	-526 (-3.4%)
73	Ancora Advisors LLC	14,500	0.05%	$273K	-400 (-2.7%)
74	PRICE T ROWE ASSOCIATES INC /MD/	14,448	0.05%	$273K	+757 (+5.5%)
75	Russell Investments Group, Ltd.	13,481	0.04%	$254K	+9,028 (+202.7%)
76	MERCER GLOBAL ADVISORS INC /ADV	13,351	0.04%	$252K	+987 (+8.0%)
77	JPMORGAN CHASE & CO	13,109	0.04%	$247K	-4,371 (-25.0%)
78	CITIGROUP INC	13,020	0.04%	$246K	+7,509 (+136.3%)
79	HAZLETT, BURT & WATSON, INC.	12,936	0.04%	$244K	—
80	Ascent Group, LLC	12,666	0.04%	$239K	+1,411 (+12.5%)
81	Balyasny Asset Management L.P.	12,646	0.04%	$239K	NEW
82	Savant Capital, LLC	12,475	0.04%	$235K	+2,467 (+24.7%)
83	Allianz Asset Management GmbH	11,640	0.04%	$220K	NEW
84	Bleakley Financial Group, LLC	11,357	0.04%	$214K	NEW
85	Y-Intercept (Hong Kong) Ltd	11,271	0.04%	$213K	NEW
86	Mariner, LLC	10,792	0.03%	$204K	-597 (-5.2%)
87	Vise Technologies, Inc.	10,668	0.03%	$201K	NEW
88	MetLife Investment Management, LLC	10,483	0.03%	$198K	+1,802 (+20.8%)
89	IAG Wealth Partners, LLC	9,892	0.03%	$187K	—
90	IFP Advisors, Inc	9,214	0.03%	$174K	+2,004 (+27.8%)
91	Steward Partners Investment Advisory, LLC	8,500	0.03%	$160K	—
92	VIRTUS ADVISERS, LLC	8,449	0.03%	$159K	+1,012 (+13.6%)
93	MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd.	7,960	0.03%	$150K	-28 (-0.4%)
94	Legal & General Group Plc	7,831	0.02%	$148K	-992 (-11.2%)
95	Vanguard Investments Australia, Ltd.	5,430	0.02%	$102K	—
96	PhiloSmith Capital Corp	5,192	0.02%	$98K	—
97	BNP PARIBAS FINANCIAL MARKETS	4,937	0.02%	$93K	-7,902 (-61.5%)
98	Police & Firemen's Retirement System of New Jersey	4,881	0.02%	$92K	—
99	NEW YORK STATE COMMON RETIREMENT FUND	4,766	0.02%	$90K	—
100	Capital Advisors, Ltd. LLC	4,746	0.02%	$90K	+4,508 (+1894.1%)
101	ROYAL BANK OF CANADA	4,456	0.01%	$84K	+2,246 (+101.6%)
102	SALEM INVESTMENT COUNSELORS INC	3,760	0.01%	$71K	—
103	FMR LLC	3,731	0.01%	$70K	-656 (-15.0%)
104	KLP KAPITALFORVALTNING AS	3,700	0.01%	$70K	—
105	CANADA LIFE ASSURANCE Co	3,639	0.01%	$69K	-210 (-5.5%)
106	OSAIC HOLDINGS, INC.	3,444	0.01%	$65K	+453 (+15.1%)
107	Vanguard Global Advisers, LLC	3,417	0.01%	$64K	-3,225 (-48.6%)
108	Zurcher Kantonalbank (Zurich Cantonalbank)	3,325	0.01%	$63K	—
109	Allworth Financial LP	3,026	0.01%	$57K	-16 (-0.5%)
110	Tower Research Capital LLC (TRC)	2,625	0.01%	$50K	+1,083 (+70.2%)
111	Smartleaf Asset Management LLC	2,616	0.01%	$49K	—
112	Arax Advisory Partners	1,877	0.01%	$35K	+1,579 (+529.9%)
113	NISA INVESTMENT ADVISORS, LLC	1,873	0.01%	$35K	+1,866 (+26657.1%)
114	Larson Financial Group LLC	1,822	0.01%	$34K	+660 (+56.8%)
115	SIGNATUREFD, LLC	1,681	0.01%	$32K	+1,300 (+341.2%)
116	Ameritas Investment Partners, Inc.	1,516	0.00%	$29K	—
117	State of Alaska, Department of Revenue	1,359	0.00%	$25K	—
118	Versant Capital Management, Inc	1,325	0.00%	$25K	-1,885 (-58.7%)
119	EverSource Wealth Advisors, LLC	1,049	0.00%	$20K	+281 (+36.6%)
120	Parallel Advisors, LLC	862	0.00%	$16K	+405 (+88.6%)
121	GAMMA Investing LLC	787	0.00%	$15K	-50 (-6.0%)
122	PNC Financial Services Group, Inc.	506	0.00%	$10K	+204 (+67.5%)
123	Farther Finance Advisors, LLC	499	0.00%	$9K	-23 (-4.4%)
124	MassMutual Private Wealth & Trust, FSB	474	0.00%	$9K	—
125	Global Retirement Partners, LLC	366	0.00%	$7K	NEW
126	Sterling Capital Management LLC	348	0.00%	$7K	-13,432 (-97.5%)
127	Silver Grove Financial Group, Inc.	265	0.00%	$5K	NEW
128	JONES FINANCIAL COMPANIES LLLP	236	0.00%	$4K	+93 (+65.0%)
129	Optiver Holding B.V.	196	0.00%	$4K	+40 (+25.6%)
130	Stone House Investment Management, LLC	186	0.00%	$4K	+76 (+69.1%)
131	Planning Strategies Inc.	120	0.00%	$2K	NEW
132	ASSETMARK, INC	118	0.00%	$2K	—
133	Avion Wealth	108	0.00%	$2K	—
134	DANSKE BANK A/S	100	0.00%	$2K	—
135	BELLEVUE ASSET MANAGEMENT, LLC	89	0.00%	$2K	NEW
136	FIFTH THIRD BANCORP	89	0.00%	$2K	—
137	True Wealth Design, LLC	77	0.00%	$1K	-2 (-2.5%)
138	Blue Trust, Inc.	74	0.00%	$1K	—
139	Covestor Ltd	72	0.00%	$1K	+30 (+71.4%)
140	ROTHSCHILD INVESTMENT LLC	68	0.00%	$1K	+18 (+36.0%)
141	HUNTINGTON NATIONAL BANK	60	0.00%	$1K	—
142	Essential Partners LLC	46	0.00%	$868	-68 (-59.6%)
143	Kilter Group LLC	38	0.00%	$717	—
144	Trust Co	37	0.00%	$698	—
145	Basecamp Wealth Advisors LLC	36	0.00%	$679	+12 (+50.0%)
146	CoreCap Advisors, LLC	33	0.00%	$622	+26 (+371.4%)
147	Rialto Wealth Management, LLC	29	0.00%	$547	NEW
148	SBI Securities Co., Ltd.	24	0.00%	$453	+2 (+9.1%)
149	Clearstead Advisors, LLC	8	0.00%	$151	NEW
150	Caitong International Asset Management Co., Ltd	7	0.00%	$132	NEW
151	HARBOUR INVESTMENTS, INC.	3	0.00%	$58	—
152	Keating Financial Advisory Services, Inc.	2	0.00%	$38	-7 (-77.8%)
153	Hughes Financial Services, LLC	2	0.00%	$38	+1 (+100.0%)

Exited since 2026-03-31 (23 filers; largest 23 shown)

ProShare Advisors LLC	−356,309
ACADIAN ASSET MANAGEMENT LLC	−48,831
JANE STREET GROUP, LLC	−34,868
STATE OF WISCONSIN INVESTMENT BOARD	−25,169
State of Wyoming	−17,896
HSBC HOLDINGS PLC	−17,707
Universal- Beteiligungs- und Servicegesellschaft mbH	−16,807
Brevan Howard Capital Management LP	−14,484
QRG CAPITAL MANAGEMENT, INC.	−12,969
Polymer Capital Management (US) LLC	−12,544
Amundi	−12,007
CWM, LLC	−11,349
LOS ANGELES CAPITAL MANAGEMENT LLC	−6,725
Aquatic Capital Management LLC	−3,730
Crewe Advisors LLC	−180
Root Financial Partners, LLC	−74
MAI Capital Management	−53
QUADRANT CAPITAL GROUP LLC	−39
Physician Wealth Advisors, Inc.	−38
Cornerstone Planning Group LLC	−36
Fortitude Family Office, LLC	−27
Advisory Services Network, LLC	−16
Sunbelt Securities, Inc.	−6

Large holders from 13D/13G (latest per reporting person, last 2 years)

Filed when a holder crosses 5% or changes materially, so often more current than the quarter-end 13F. Percentages are the filer's own, against the share count they used.

Reporting person	Form	Filed	Event	Shares	% of class
BlackRock, Inc.	SCHEDULE 13G	2026-07-28	2026-06-30	1,607,515	5.1%
Dimensional Fund Advisors LP	SCHEDULE 13G/A	2026-01-21	2025-12-31	1,729,921	5.6%

Source: SEC Form 13F-HR information tables for the quarter ending 2026-06-30 (filed within 45 days of quarter end; amendments applied; values normalised to dollars), the share count from the company's latest 10-K/10-Q XBRL cover page, and Schedule 13D/13G filings. Each row is a legal 13F filer as filed — related entities (e.g. Vanguard's advisers) are not merged. Retail brokerage accounts are not reported on 13F, so the remainder is mostly retail and insiders.