Dow

DOW • NYSE

Dow is a chemicals company in the basic materials sector on NYSE, led by James R. Fitterling, with a market cap of $16.3B. As of Q3 2025, 66% of shares are held by 1,061 institutional investors, with VANGUARD GROUP INC as the largest holder at 12.06%.

President and CEOJames R. Fitterling

Market Cap$16.3B

Chemicals

Basic Materials

Employees35.9K

Websitedow.com

Country

United States of America

Overview

Overview of institutional ownership in DOW as of Q3 2025 with a market cap of $16.3B

All Institutions

Institutions: 1,061
Value Held: $10.7B
Shares Held: 464.8M
Avg Position: $10.1M
Median Position: $395.9K

Hedge Funds

Hedge Funds: 56
Value Held: $663.3M
Shares Held: 28.8M
Avg Position: $11.8M
Median Position: $2.2M

Ownership Breakdown

Institutional (non-HF)

61.53%

$10.0B

Hedge Funds

4.08%

$663.3M

Retail & Other

34.39%

$5.6B

Based on market cap of $16.3B as of Q3 2025. Institutional (non-HF) excludes hedge funds to avoid double counting.

Biggest Investors

Institutions with the largest positions in DOW as of Q3 2025

Institution	Key People	Position Value	Ownership	Owned Since	Total AUM (Long)
VANGUARD GROUP INC Institution	Salim Ramji CEO	$2.0B 0.03% of portfolio	12.06% 85.5M shares	Q2 2019 Held for 6y 5m	$6.69T
B BlackRock, Inc. Institution	-	$1.1B 0.02% of portfolio	6.97% 49.4M shares	Q2 2019 Held for 6y 5m	$5.67T
STATE STREET CORP Institution	Ronald P. O'Hanley CEO	$782.7M 0.03% of portfolio	4.82% 34.1M shares	Q2 2019 Held for 6y 5m	$2.88T
PZENA INVESTMENT MANAGEMENT LLC Long Only Manager	Chenyu Caroline Cai CEO	$622.9M 2.01% of portfolio	3.83% 27.2M shares	Q1 2020 Held for 5y 8m	$30.9B
GEODE CAPITAL MANAGEMENT LLC ETF Provider	David Kenneth Lane CEO	$420.2M 0.03% of portfolio	2.58% 18.3M shares	Q2 2019 Held for 6y 5m	$1.57T
MORGAN STANLEY RIA/Wealth	Jed Finn CEO	$322.0M 0.02% of portfolio	1.98% 14.0M shares	Q1 2019 Held for 6y 8m	$1.65T
Capital Research Global Investors RIA/Wealth	Sardar Sheraz Iftikhar CEO	$268.8M 0.05% of portfolio	1.65% 11.7M shares	Q4 2024 Held for 11 months	$532.36B
Invesco Ltd. ETF Provider	Brian Christopher Hartigan CEO	$231.3M 0.04% of portfolio	1.42% 10.1M shares	Q2 2019 Held for 6y 5m	$633.08B
UBS Group AG Institution	Sergio P. Ermotti CEO	$191.3M 0.04% of portfolio	1.18% 8.3M shares	Q2 2019 Held for 6y 5m	$511.54B
SCHWAB CHARLES INVESTMENT MANAGEMENT INC Long Only Manager	Omar Aguilar Chavez CEO	$153.3M 0.02% of portfolio	0.94% 6.7M shares	Q2 2019 Held for 6y 5m	$620.51B

Net Capital Flow

Institutional buying and selling activity for DOW in Q3 2025

Net Flow: −$465.8M
Buyers: 324
Sellers: 666
Total Bought: +$874.7M
Total Sold: −$1.3B
Avg Position: $8.9M

Biggest Buyers

Institution	Net Bought	Current Position
VOLORIDGE INVESTMENT MANAGEMENT, LLC Hedge Fund•Multi-Strategy	+$76.4M +3.3M shares	$76.4M 3.3M shares
N Neuberger Berman Group LLC Institution	+$64.6M +2.8M shares	$66.4M 2.9M shares
MILLENNIUM MANAGEMENT LLC Hedge Fund•Multi-Strategy	+$51.1M +2.2M shares	$64.4M 2.8M shares
Connor, Clark & Lunn Investment Management Ltd. Long Only Manager	+$46.9M +2.0M shares	$69.6M 3.0M shares
C CANADA PENSION PLAN INVESTMENT BOARD Institution	+$42.1M +1.8M shares	$63.2M 2.8M shares
STATE STREET CORP Institution	+$41.2M +1.8M shares	$782.7M 34.1M shares
FMR LLC Institution	+$34.9M +1.5M shares	$96.0M 4.2M shares
TWO SIGMA INVESTMENTS LLC Hedge Fund•Multi-Strategy	+$31.7M +1.4M shares	$31.7M 1.4M shares
UBS Group AG Institution	+$31.1M +1.4M shares	$191.3M 8.3M shares
TWO SIGMA ADVISERS, LLC Hedge Fund•Multi-Strategy	+$30.8M +1.3M shares	$30.8M 1.3M shares

Biggest Sellers

Institution	Net Sold	Current Position
Capital Research Global Investors RIA/Wealth	−$332.7M −14.5M shares	$268.8M 11.7M shares
C Capital World Investors Institution	−$94.8M −3.6M shares	Sold Off 0 shares
NORDEA INVESTMENT MANAGEMENT AB Institution	−$61.7M −2.8M shares	$1.6M 72.4K shares
B BlackRock, Inc. Institution	−$51.0M −2.2M shares	$1.1B 49.4M shares
JPMORGAN CHASE & CO Institution	−$46.0M −2.0M shares	$62.8M 2.7M shares
DIMENSIONAL FUND ADVISORS LP Long Only Manager	−$44.7M −1.9M shares	$125.6M 5.5M shares
Ceredex Value Advisors LLC Long Only Manager	−$32.8M −1.2M shares	Sold Off 0 shares
Epoch Investment Partners, Inc. Long Only Manager	−$30.9M −1.2M shares	Sold Off 0 shares
Bank of New York Mellon Corp Institution	−$28.0M −1.2M shares	$90.4M 3.9M shares
C CAPITAL ADVISORS INC/OK Institution	−$26.3M −993.3K shares	Sold Off 0 shares

Entry and Exit Activity

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

New Positions: 31
New Value: $75.2M
Exited Positions: 178
Exited Value: $351.4M

New Positions

Institution	Position Value
Slate Path Capital LP Hedge Fund•Long/Short	$56.5M 2.5M shares
Arrow Capital Pty Ltd Hedge Fund•Market Neutral	$6.4M 185.0K shares
Mountain Hill Investment Partners Corp. RIA/Wealth	$5.7M 248.6K shares
Morningstar Investment Management LLC Long Only Manager	$2.0M 88.5K shares
Board of the Pension Protection Fund RIA/Wealth	$644.3K 28.1K shares
C Campbell & CO Investment Adviser LLC Hedge Fund•Quant Macro	$497.5K 21.7K shares
Atom Investors LP Hedge Fund•Market Neutral	$480.5K 21.0K shares
Argentarii, LLC RIA/Wealth	$464.4K 20.3K shares
LEIGH BALDWIN & CO., LLC RIA/Wealth	$402.6K 9.5K shares
K Kazazian Asset Management, LLC Hedge Fund•Long/Short	$366.9K 16.0K shares

Exited Positions

Institution	Previous Position
C Capital World Investors Institution	$94.8M 3.6M shares
Ceredex Value Advisors LLC Long Only Manager	$32.8M 1.2M shares
Epoch Investment Partners, Inc. Long Only Manager	$30.9M 1.2M shares
C CAPITAL ADVISORS INC/OK Institution	$26.3M 993.3K shares
Q Qube Research & Technologies Ltd Institution	$20.6M 777.3K shares
TUDOR INVESTMENT CORP ET AL Hedge Fund•Multi-Strategy	$15.1M 569.3K shares
NFJ INVESTMENT GROUP, LLC Long Only Manager	$9.0M 338.9K shares
A AXA Institution	$7.4M 279.2K shares
FERGUSON WELLMAN CAPITAL MANAGEMENT, INC RIA/Wealth	$6.8M 255.5K shares
M Mizuho Markets Cayman LP Institution	$6.7M 252.0K shares

Options Activity

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

Call Positions: 40
Call Value: $538.5M
Put Positions: 44
Put Value: $541.6M

Call Positions

Institution	Position Value
SUSQUEHANNA INTERNATIONAL GROUP, LLP Private Equity	$132.0M 57.5K contracts
CITADEL ADVISORS LLC Hedge Fund•Multi-Strategy	$71.6M 31.2K contracts
S Squarepoint Ops LLC Hedge Fund•Quant	$52.7M 23.0K contracts
CAPITAL FUND MANAGEMENT S.A. Hedge Fund•Quant Macro	$42.9M 18.7K contracts
MILLENNIUM MANAGEMENT LLC Hedge Fund•Multi-Strategy	$26.9M 11.7K contracts
M MASTERS CAPITAL MANAGEMENT LLC Hedge Fund•Long/Short	$22.9M 10.0K contracts
C Cubist Systematic Strategies, LLC Institution	$21.1M 9.2K contracts
J JANE STREET GROUP, LLC Institution	$20.4M 8.9K contracts
D D. E. Shaw & Co., Inc. Institution	$18.7M 8.2K contracts
TUDOR INVESTMENT CORP ET AL Hedge Fund•Multi-Strategy	$18.2M 7.9K contracts

Put Positions

Institution	Position Value
SUSQUEHANNA INTERNATIONAL GROUP, LLP Private Equity	$99.5M 43.4K contracts
CITADEL ADVISORS LLC Hedge Fund•Multi-Strategy	$75.8M 33.1K contracts
S Squarepoint Ops LLC Hedge Fund•Quant	$59.3M 25.9K contracts
D D. E. Shaw & Co., Inc. Institution	$57.2M 25.0K contracts
CAPITAL FUND MANAGEMENT S.A. Hedge Fund•Quant Macro	$54.2M 23.6K contracts
J JANE STREET GROUP, LLC Institution	$35.9M 15.7K contracts
C Cubist Systematic Strategies, LLC Institution	$20.4M 8.9K contracts
TUDOR INVESTMENT CORP ET AL Hedge Fund•Multi-Strategy	$18.1M 7.9K contracts
Q Qube Research & Technologies Ltd Institution	$18.0M 7.9K contracts
UBS Group AG Institution	$16.4M 7.2K contracts

Most Committed Institutions

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

Institution	Key People	Portfolio Weight	Ownership	Owned Since	Total AUM (Long)
Mountain Hill Investment Partners Corp. RIA/Wealth	Andrew John Kaiser CEO	5.00% $5.7M	0.04% 248.6K shares	Q3 2025 Held for 2 months	$114.1M
Arrow Capital Pty Ltd Hedge Fund•Market Neutral	Tim Bolger COO	3.69% $6.4M	0.03% 185.0K shares	Q3 2025 Held for 2 months	$173.8M
F FOLGER NOLAN FLEMING DOUGLAS CAPITAL MANAGEMENT, INC RIA/Wealth	Christopher Douglas CEO	2.47% $22.1M	0.14% 962.6K shares	Q2 2022 Held for 3y 5m	$894.2M
M MASTERS CAPITAL MANAGEMENT LLC Hedge Fund•Long/Short	Michael Willingham Masters CEO	2.20% $11.5M	0.07% 500.0K shares	Q4 2024 Held for 11 months	$521.3M
PZENA INVESTMENT MANAGEMENT LLC Long Only Manager	Chenyu Caroline Cai CEO	2.01% $622.9M	3.83% 27.2M shares	Q1 2020 Held for 5y 8m	$30.9B
CapWealth Advisors, LLC RIA/Wealth	Phoebe Jones Venable CEO	1.65% $18.3M	0.11% 799.1K shares	Q2 2019 Held for 6y 5m	$1.1B
E Econ Financial Services Corp Institution	-	1.63% $3.3M	0.02% 142.3K shares	Q2 2025 Held for 5 months	$200.6M
NAN FUNG TRINITY Ltd RIA/Wealth	Fredric Brian Fisher President	1.52% $15.2M	0.09% 665.0K shares	Q1 2025 Held for 8 months	$1.0B
Collar Capital Management, LLC RIA/Wealth	Patrick Daniel Collar Managing Partner	1.50% $2.1M	0.01% 93.6K shares	Q4 2024 Held for 11 months	$143.5M
H Hedges Asset Management LLC RIA/Wealth	William Thomas Hedges Managing Partner	1.42% $1.9M	0.01% 80.9K shares	Q4 2021 Held for 3y 11m	$130.6M