DNOW

DNOW • NYSE

DNOW is a oil & gas equipment & services company in the energy sector on NYSE, led by David Cherechinsky, with a market cap of $2.7B. As of Q3 2025, 105% of shares are held by 279 institutional investors, with BlackRock, Inc. as the largest holder at 16.83%.

President and Chief Executive OfficerDavid Cherechinsky

Market Cap$2.7B

Oil & Gas Equipment & Services

Energy

Employees2.7K

Websitednow.com

Country

United States of America

Overview

Overview of institutional ownership in DNOW as of Q3 2025 with a market cap of $1.6B

All Institutions

Institutions: 279
Value Held: $1.7B
Shares Held: 110.3M
Avg Position: $6.0M
Median Position: $476.0K

Hedge Funds

Hedge Funds: 38
Value Held: $212.4M
Shares Held: 13.9M
Avg Position: $5.6M
Median Position: $1.5M

Ownership Breakdown

Institutional (non-HF)

91.81%

$1.5B

Hedge Funds

13.26%

$212.4M

Retail & Other

Based on market cap of $1.6B as of Q3 2025. Institutional (non-HF) excludes hedge funds to avoid double counting.

Biggest Investors

Institutions with the largest positions in DNOW as of Q3 2025

Institution	Key People	Position Value	Ownership	Owned Since	Total AUM (Long)
B BlackRock, Inc. Institution	-	$269.5M 0.00% of portfolio	16.83% 17.7M shares	Q2 2014 Held for 11y 5m	$5.67T
VANGUARD GROUP INC Institution	Salim Ramji CEO	$179.0M 0.00% of portfolio	11.18% 11.7M shares	Q2 2014 Held for 11y 5m	$6.69T
DIMENSIONAL FUND ADVISORS LP Long Only Manager	David Paul Butler CEO	$98.4M 0.02% of portfolio	6.15% 6.5M shares	Q2 2014 Held for 11y 5m	$466.32B
Robeco Investment Management, Inc. Long Only Manager	Joseph Francis Feeney CEO	$72.3M 0.07% of portfolio	4.51% 4.7M shares	Q3 2025 Held for 2 months	$97.8B
STATE STREET CORP Institution	Ronald P. O'Hanley CEO	$62.4M 0.00% of portfolio	3.90% 4.1M shares	Q2 2014 Held for 11y 5m	$2.88T
RENAISSANCE TECHNOLOGIES LLC Hedge Fund•Quant	Peter Fitzhugh Brown CEO	$57.8M 0.08% of portfolio	3.61% 3.8M shares	Q3 2015 Held for 10y 2m	$75.8B
WELLINGTON MANAGEMENT CO LLP Long Only Manager	Jean Marie Hynes CEO	$57.4M 0.01% of portfolio	3.59% 3.8M shares	Q2 2021 Held for 4y 5m	$571.21B
BARROW HANLEY MEWHINNEY & STRAUSS LLC Long Only Manager	Cory Lawrence Martin CEO	$50.1M 0.16% of portfolio	3.13% 3.3M shares	Q1 2021 Held for 4y 8m	$31.4B
GEODE CAPITAL MANAGEMENT LLC ETF Provider	David Kenneth Lane CEO	$39.4M 0.00% of portfolio	2.46% 2.6M shares	Q2 2014 Held for 11y 5m	$1.57T
A AMERICAN CENTURY COMPANIES INC Institution	-	$36.4M 0.02% of portfolio	2.27% 2.4M shares	Q1 2019 Held for 6y 8m	$195.93B

Net Capital Flow

Institutional buying and selling activity for DNOW in Q3 2025

Traded: +$118.7M
Buyers: 137
Sellers: 136
Total Bought: +$267.3M
Total Sold: −$148.6M
Avg Position: $5.3M

Biggest Buyers

Institution	Net Bought	Current Position
Robeco Investment Management, Inc. Long Only Manager	+$72.3M +4.7M shares	$72.3M 4.7M shares
WELLINGTON MANAGEMENT CO LLP Long Only Manager	+$41.5M +2.7M shares	$57.4M 3.8M shares
M MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. Institution	+$32.1M +2.1M shares	$32.1M 2.1M shares
GOLDMAN SACHS GROUP INC Institution	+$16.8M +1.1M shares	$25.8M 1.7M shares
S Southpoint Capital Advisors LP Hedge Fund•Long/Short	+$12.3M +805.0K shares	$12.3M 805.0K shares
BALYASNY ASSET MANAGEMENT LLC Hedge Fund•Multi-Strategy	+$8.4M +552.3K shares	$18.0M 1.2M shares
Edgestream Partners, L.P. Hedge Fund•Quant Macro	+$7.3M +475.4K shares	$9.4M 619.3K shares
Decagon Asset Management LLP Hedge Fund•Event Driven	+$7.0M +458.1K shares	$7.0M 458.1K shares
ARROWSTREET CAPITAL LIMITED PARTNERSHIP Hedge Fund•Quant	+$4.2M +278.2K shares	$31.7M 2.1M shares
DENALI ADVISORS LLC Long Only Manager	+$4.1M +266.7K shares	$6.8M 443.3K shares

Biggest Sellers

Institution	Net Sold	Current Position
AMERIPRISE FINANCIAL INC Institution	−$35.2M −2.3M shares	$10.3M 676.6K shares
B BlackRock, Inc. Institution	−$18.1M −1.2M shares	$269.5M 17.7M shares
ALGERT COLDIRON INVESTORS LLC Hedge Fund•Quant	−$6.6M −445.1K shares	Sold Off 0 shares
Q Qube Research & Technologies Ltd Institution	−$5.8M −390.8K shares	Sold Off 0 shares
TUDOR INVESTMENT CORP ET AL Hedge Fund•Multi-Strategy	−$5.6M −368.9K shares	$3.5M 230.2K shares
Q Quantedge Capital Pte Ltd Institution	−$5.5M −358.9K shares	$5.4M 351.3K shares
CITADEL ADVISORS LLC Hedge Fund•Multi-Strategy	−$4.5M −297.5K shares	$9.6M 627.3K shares
B BNP PARIBAS ARBITRAGE, SA Institution	−$4.4M −286.5K shares	$616.9K 40.5K shares
MORGAN STANLEY RIA/Wealth	−$4.4M −286.2K shares	$14.7M 965.2K shares
UBS GLOBAL ASSET MANAGEMENT AMERICAS INC Long Only Manager	−$4.1M −268.4K shares	$3.3M 214.4K shares

Entry and Exit Activity

Institutions that initiated new positions or completely exited DNOW in Q3 2025

New Positions: 20
New Value: $9.3M
Exited Positions: 38
Exited Value: $29.4M

New Positions

Institution	Position Value
Decagon Asset Management LLP Hedge Fund•Event Driven	$7.0M 458.1K shares
Corigliano Investment Advisers, LLC Hedge Fund•Sector	$721.3K 47.3K shares
T TWINBEECH CAPITAL LP Hedge Fund•Quant	$544.9K 35.7K shares
TradeLink Capital LLC Hedge Fund•Event Driven	$241.0K 15.8K shares
CAPSTONE INVESTMENT ADVISORS, LLC Hedge Fund•Multi-Strategy	$210.8K 13.8K shares
Empirical Financial Services, LLC RIA/Wealth	$194.6K 12.8K shares
M MQS Management LLC Hedge Fund•Global Macro	$188.8K 12.4K shares
E Entropy Technologies, LP Hedge Fund•Quant Macro	$168.2K 11.0K shares
WEALTH ENHANCEMENT ADVISORY SERVICES, LLC RIA/Wealth	$44.1K 2.8K shares
Point72 Europe LLP Digital Asset Manager	$15.7K 1.0K shares

Exited Positions

Institution	Previous Position
ALGERT COLDIRON INVESTORS LLC Hedge Fund•Quant	$6.6M 445.1K shares
Q Qube Research & Technologies Ltd Institution	$5.8M 390.8K shares
ICON ADVISERS INC/CO Long Only Manager	$3.0M 200.0K shares
J Jump Financial, LLC Institution	$2.0M 137.0K shares
J J. Goldman & Co LP Hedge Fund•Multi-Strategy	$1.7M 114.8K shares
B Brevan Howard Capital Management LP Institution	$1.3M 84.3K shares
Graham Capital Management, L.P. Hedge Fund•Multi-Strategy	$966.0K 65.1K shares
CWA Asset Management Group, LLC RIA/Wealth	$927.3K 62.5K shares
Trexquant Investment LP Hedge Fund•Quant	$906.6K 61.1K shares
B BRANT POINT INVESTMENT MANAGEMENT LLC Hedge Fund•Long/Short	$741.5K 50.0K shares

Options Activity

Institutions with the largest Call and Put options positions in DNOW as of Q3 2025

Call Positions: 4
Call Value: $689.3K
Put Positions: 1
Put Value: $378.2K

Call Positions

Institution	Position Value
Walleye Trading LLC RIA/Wealth	$510.9K 335.0 contracts
SUSQUEHANNA INTERNATIONAL GROUP, LLP Private Equity	$176.9K 116.0 contracts
Walleye Trading Advisors, LLC Hedge Fund•Multi-Strategy	$1.5K 1.0 contracts
CITADEL ADVISORS LLC Hedge Fund•Multi-Strategy	- - contracts

Put Positions

Institution	Position Value
Walleye Trading LLC RIA/Wealth	$378.2K 248.0 contracts

Most Committed Institutions

Institutions with DNOW as the highest % of their portfolio as of Q3 2025

Institution	Key People	Portfolio Weight	Ownership	Owned Since	Total AUM (Long)
Decagon Asset Management LLP Hedge Fund•Event Driven	Benjamin John Durham CEO	4.13% $7.0M	0.44% 458.1K shares	Q3 2025 Held for 2 months	$169.1M
Q Quantedge Capital Pte Ltd Institution	-	2.93% $5.4M	0.33% 351.3K shares	Q4 2023 Held for 1y 11m	$182.7M
TradeLink Capital LLC Hedge Fund•Event Driven	Steven Wesley Wolf CEO	2.00% $241.0K	0.02% 15.8K shares	Q3 2025 Held for 2 months	$12.0M
Global Alpha Capital Management Ltd. Long Only Manager	Robert Beauregard President	1.77% $30.9M	1.93% 2.0M shares	Q4 2022 Held for 2y 11m	$1.7B
PENN CAPITAL MANAGEMENT CO INC Long Only Manager	Pamela Marie Lawrence President	1.41% $18.3M	1.14% 1.2M shares	Q4 2021 Held for 3y 11m	$1.3B
DENALI ADVISORS LLC Long Only Manager	Robert Guenther Snigaroff CIO	0.76% $6.8M	0.42% 443.3K shares	Q1 2025 Held for 8 months	$885.1M
Q Quantessence Capital LLC Hedge Fund•Quant	Amit Manwani CEO	0.73% $2.3M	0.14% 151.6K shares	Q1 2025 Held for 8 months	$316.3M
SummerHaven Investment Management, LLC Long Only Manager	Kurt Jonathon Nelson CEO	0.55% $932.1K	0.06% 61.1K shares	Q3 2023 Held for 2y 2m	$170.9M
H HEARTLAND ADVISORS INC Long Only Manager	William Richard Nasgovitz CEO	0.36% $6.9M	0.43% 450.0K shares	Q1 2022 Held for 3y 8m	$1.9B
B BRIDGEWAY CAPITAL MANAGEMENT INC Long Only Manager	John Noland Ryan Montgomery CEO	0.36% $16.9M	1.05% 1.1M shares	Q2 2024 Held for 1y 5m	$4.7B

Hedge Fund Spotlight

Discover hedge funds investing in DNOW

TradeLink Capital LLC

Hedge Fund • Event Driven

Portfolio ManagerSteven Wesley Wolf

Portfolio Value: $12.0M
Positions: 29
Last Reported: Q3 2025

Sector Allocation

Position in DNOW

Market Value: $241.0K
Shares Held: 15.8K
Portfolio Weight: 2.00%
Owned Since: 2025-Q3

Top Holding	Sector	Market Value	Weight
1 Robinhood Markets, Inc. HOOD	Software - Infrastructure Technology	$1.2M	9.71%
2 John Wiley & Sons, Inc. WLY	Publishing Communication Services	$959.3K	7.97%
3 Middleby MIDD	Industrial - Machinery Industrials	$847.0K	7.04%