Dollar General Corporation (NYSE: DG) is one of the largest discount retailers in the United States, operating thousands of small-format stores focused on everyday essentials. Shares recently traded around $137 per share, giving the company a market value of roughly $30.2 billion.
Looking at who owns Dollar General and recent insider activity helps show how major institutions and company executives appear to be positioning around the stock today.
Who Are Dollar General’s Top Shareholders?
Dollar General’s shareholder base is led by large institutional investors, particularly passive asset managers that tend to hold through market cycles. Active managers have adjusted positions in both directions, suggesting a mix of confidence and caution following the stock’s rebound.
- The Vanguard Group: 26,784,446 shares (12.17%), $3.68B value. Added 77,135 shares (+0.29%).
- BlackRock Institutional Trust Company: 11,980,565 shares (5.44%), $1.64B value. Added 344,804 shares (+2.96%).
- Pzena Investment Management: 11,677,669 shares (5.31%), $1.60B value. Cut 171,269 shares (1.45%).
- State Street Investment Management: 10,963,378 shares (4.98%), $1.51B value. Added 913,373 shares (+9.09%).
- First Eagle Investment Management: 5,977,005 shares (2.72%), $821M value. Minimal change.
- Geode Capital Management: 5,664,873 shares (2.57%), $778M value. Added 15,651 shares (+0.28%).
- BlackRock Financial Management: 4,937,052 shares (2.24%), $678M value. Added 342,643 shares (+7.46%).
- ACR Alpine Capital Research: 3,895,406 shares (1.77%), $535M value. Cut 282,436 shares (6.76%).
- Baillie Gifford & Co.: 3,247,432 shares (1.48%), $446M value. Cut 108,416 shares (3.23%).
- Arrowstreet Capital: 2,811,797 shares (1.28%), $386M value. Added 96,825 shares (+3.57%).
The presence of large passive institutions provides a stable ownership base, while mixed activity among active managers suggests differing views on valuation, which may keep expectations balanced for investors.
Hedge Fund Highlights
One notable move last quarter came from Citadel Advisors, founded by Ken Griffin, which increased its Dollar General position by 3,069% to roughly $68M. The size of the increase suggests the firm may be rebuilding exposure after the stock’s rebound, though the timing and intent are not fully clear.
AQR Capital Management, led by Cliff Asness, raised its position by 416%, bringing total holdings to approximately $261M. This increase appears consistent with a valuation-driven or factor-based adjustment rather than a concentrated single-company bet.
At Bridgewater Associates, founded by Ray Dalio, holdings rose by 280% to nearly $5M. While the dollar amount is modest, the percentage change stands out and may reflect a tactical reallocation.
Meanwhile, Jefferies Financial Group, led by Richard Handler, boosted its stake by 770% to about $3.8M, a small but directional increase that points to selective hedge fund interest at current price levels for investors.
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Dollar General’s Recent Insider Trades
Insider filings over the past month show mostly modest transactions that appear tied to stock-based compensation activity rather than large discretionary moves.
- Bryan D. Wheeler (Officer): Sold 9,776 shares at ~$135, ~$1.3M.
- Rhonda M. Taylor (Officer): Sold 7,500 shares at ~$135, ~$1.0M.
- Roderick J. West (Officer): Sold 2,282 shares at ~$133, ~$0.3M.
- Anita C. Elliott (Officer): Sold 2,516 shares at ~$133, ~$0.3M.
- Carman R. Wenkoff (Officer): Sold 19,166 shares at ~$132, ~$2.5M.
- Tracey N. Herrmann (Officer): Sold 4,850 shares at ~$131, ~$0.6M.
Several filings also show corresponding share receipts, which may relate to compensation mechanics, though this is not confirmed, and overall activity does not meaningfully shift insider ownership for investors.
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What the Ownership & Insider Trade Data Tell Us
Dollar General’s shareholder base remains anchored by large passive institutions, which tends to support stability through market cycles. Among active managers and hedge funds, positioning appears mixed, with selective buying alongside trimming after the stock’s recovery.
Insider activity looks cautious and limited in size, with transactions that appear more administrative than directional. For investors, the data suggest Dollar General continues to be viewed as a stable business with solid institutional support, while expectations around earnings recovery and valuation remain measured rather than overly optimistic.
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