DOW INC DOW
COM · Common Stock · CUSIP 260557103 · ISIN US2605571031
American chemical company
* 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 ($141.7m this quarter). Holder counts are more reliable. Shares outstanding: 720.7m as of 2026-03-31, from the company's own SEC filing; the percentage can still exceed 100%: lent-out shares are counted by the lender and the buyer, and some reports overlap without saying so. Implied quarter-end price ≈ $27.40. Options: 35 managers hold calls ($509.5m notional), 42 hold puts ($612.2m).
Trends to Q2 2026
Institutional holders
Managers reporting a position, each quarter
Numbers
| Quarter | Holders |
|---|---|
| Q3 2022 | 1,434 |
| Q4 2022 | 1,520 |
| Q1 2023 | 1,544 |
| Q2 2023 | 1,520 |
| Q3 2023 | 1,509 |
| Q4 2023 | 1,598 |
| Q1 2024 | 1,611 |
| Q2 2024 | 1,550 |
| Q3 2024 | 1,498 |
| Q4 2024 | 1,422 |
| Q1 2025 | 1,345 |
| Q2 2025 | 1,214 |
| Q3 2025 | 1,107 |
| Q4 2025 | 1,126 |
| Q1 2026 | 1,316 |
| Q2 2026 | 1,200 |
Buyers vs sellers
Managers adding to or starting a position, vs cutting or selling out
Numbers
| Quarter | Bought or added | Cut or sold out |
|---|---|---|
| Q3 2024 | 595 | 783 |
| Q4 2024 | 507 | 873 |
| Q1 2025 | 615 | 708 |
| Q2 2025 | 552 | 682 |
| Q3 2025 | 408 | 686 |
| Q4 2025 | 425 | 573 |
| Q1 2026 | 715 | 482 |
| Q2 2026 | 527 | 680 |
Calls vs puts
Options held, notional value, last 4 quarters. P/C = puts ÷ calls
Numbers
| Quarter | Calls | Puts | P/C |
|---|---|---|---|
| Q3 2025 | $658.8m | $621.2m | 0.94 |
| Q4 2025 | $648.7m | $642.4m | 0.99 |
| Q1 2026 | $1.1bn | $1.1bn | 0.94 |
| Q2 2026 | $509.5m | $612.2m | 1.20 |
Biggest buyers
| TWO SIGMA INVESTMENTS, LP | Added | +13.4m |
| Capital World Investors | Added | +8.6m |
| BlackRock, Inc. | Added | +8.4m |
| Qube Research & Technologies Ltd | New | +6.9m |
| AQR CAPITAL MANAGEMENT LLC | Added | +5.4m |
| VOLORIDGE INVESTMENT MANAGEMENT, LLC | Added | +4.5m |
| D. E. Shaw & Co., Inc. | Added | +4.2m |
| RENAISSANCE TECHNOLOGIES LLC | New | +2.9m |
| STATE STREET CORP | Added | +2.8m |
| GOLDMAN SACHS GROUP INC | Added | +2.6m |
Biggest sellers
| Capital Research Global Investors | Sold out | -9.1m |
| PZENA INVESTMENT MANAGEMENT LLC | Reduced | -6.4m |
| Holocene Advisors, LP | Sold out | -5.1m |
| Artemis Investment Management LLP | Sold out | -4.7m |
| VOYA INVESTMENT MANAGEMENT LLC | Reduced | -3.2m |
| PRIMECAP MANAGEMENT CO/CA/ | Reduced | -2.1m |
| Electron Capital Partners, LLC | Sold out | -1.9m |
| Balyasny Asset Management L.P. | Reduced | -1.5m |
| JENNISON ASSOCIATES LLC | Sold out | -1.4m |
| Eurizon Capital SGR S.p.A. | Reduced | -1.2m |
Biggest calls
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | Reduced | $104.4m3.8m shares |
| JANE STREET GROUP, LLC | Added | $100.1m3.7m shares |
| CITADEL ADVISORS LLC | Reduced | $77.1m2.8m shares |
| IMC-Chicago, LLC | Reduced | $40.0m1.5m shares |
| UBS Group AG | Added | $28.5m1.0m shares |
| ROYAL BANK OF CANADA | New | $20.3m742.4k shares |
| SIMPLEX TRADING, LLC | Reduced | $17.0m620.9k shares |
| Walleye Trading LLC | Added | $15.5m567.2k shares |
| Point72 Asset Management, L.P. | Added | $15.1m550.9k shares |
| D. E. Shaw & Co., Inc. | Reduced | $13.5m494.5k shares |
Biggest puts
| JANE STREET GROUP, LLC | Added | $135.3m4.9m shares |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | Reduced | $127.5m4.7m shares |
| CITADEL ADVISORS LLC | Reduced | $59.0m2.2m shares |
| D. E. Shaw & Co., Inc. | Reduced | $55.4m2.0m shares |
| IMC-Chicago, LLC | Reduced | $31.3m1.1m shares |
| 140 Summer Partners LP | New | $21.9m800.0k shares |
| SIMPLEX TRADING, LLC | Reduced | $18.9m690.7k shares |
| GROUP ONE TRADING LLC | Reduced | $18.9m690.6k shares |
| JPMORGAN CHASE & CO | Reduced | $17.5m628.4k shares |
| MARSHALL WACE, LLP | Added | $17.3m630.5k shares |
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.
| Holder | Stake |
|---|---|
| VANGUARD CAPITAL MANAGEMENT LLC 13G · institution new · filed 2026-04-29 | 7.4% |
| STATE STREET CORP 13G · institution new · filed 2026-08-07 | 5.3% |
Fell to 5% or below in the last year: VANGUARD GROUP INC (0.0%, 2026-03-26; now reported by VANGUARD CAPITAL MANAGEMENT LLC)
Insider purchases and sales since 1 Apr 2026
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)
Numbers
| Quarter | Buying | Bought | Selling | Sold | Sold under a plan |
|---|---|---|---|---|---|
| Q4 2024 | 3 | $1.6m | 0 | — | — |
| Q1 2025 | 1 | $26.2k | 0 | — | — |
| Q2 2025 | 0 | — | 0 | — | — |
| Q3 2025 | 0 | — | 0 | — | — |
| Q4 2025 | 0 | — | 0 | — | — |
| Q1 2026 | 0 | — | 0 | — | — |
| Q2 2026 | 0 | — | 0 | — | — |
| Q3 2026 | 0 | — | 0 | — | — |
None reported since 1 Apr 2026.
Holders, Q2 2026
| Manager | Shares | Change |
|---|---|---|
| BlackRock, Inc. 0.03% of their portfolio | 61.7m $1.7bn | Added +8.4m |
| VANGUARD CAPITAL MANAGEMENT LLC 0.03% of their portfolio | 47.0m $1.3bn | Added +837.2k |
| STATE STREET CORP 0.03% of their portfolio | 37.9m $1.0bn | Added +2.8m |
| VANGUARD PORTFOLIO MANAGEMENT LLC 0.04% of their portfolio | 34.9m $954.5m | Added +2.1m |
| GEODE CAPITAL MANAGEMENT, LLC 0.03% of their portfolio | 19.3m $525.4m | Added +503.1k |
| TWO SIGMA INVESTMENTS, LP 0.37% of their portfolio | 17.9m $489.0m | Added +13.4m |
| Capital World Investors 0.05% of their portfolio | 15.7m $430.8m | Added +8.6m |
| AQR CAPITAL MANAGEMENT LLC 0.15% of their portfolio | 15.7m $429.5m | Added +5.4m |
| MORGAN STANLEY 0.02% of their portfolio | 15.1m $413.1m | Added +1.1m |
| PZENA INVESTMENT MANAGEMENT LLC 1.00% of their portfolio | 12.5m $342.2m | Reduced -6.4m |
| Invesco Ltd. 0.02% of their portfolio | 9.7m $264.5m | Added +37.1k |
| FMR LLC 0.01% of their portfolio | 9.4m $256.7m | Added +1.2m |
| NORGES BANK 0.03% of their portfolio | 9.3m $254.5m | Not comparable |
| GOLDMAN SACHS GROUP INC 0.03% of their portfolio | 8.8m $241.5m | Added +2.6m |
| CHARLES SCHWAB INVESTMENT MANAGEMENT INC 0.03% of their portfolio | 7.9m $214.8m | Added +42.0k |
| D. E. Shaw & Co., Inc. 0.12% of their portfolio | 7.3m $200.1m | Added +4.2m |
| Qube Research & Technologies Ltd 0.21% of their portfolio | 6.9m $188.2m | New |
| NORTHERN TRUST CORP 0.02% of their portfolio | 6.6m $180.9m | Reduced -95.1k |
| VOLORIDGE INVESTMENT MANAGEMENT, LLC 0.75% of their portfolio | 6.4m $176.3m | Added +4.5m |
| BANK OF AMERICA CORP /DE/ 0.01% of their portfolio | 6.1m $168.2m | Added +543.2k |
| UBS Group AG 0.03% of their portfolio | 5.9m $160.7m | Added +906.4k |
| MARSHALL WACE, LLP 0.13% of their portfolio | 5.8m $159.3m | Added +89.0k |
| NEUBERGER BERMAN GROUP LLC 0.10% of their portfolio | 5.3m $144.0m | Reduced -780.1k |
| DIMENSIONAL FUND ADVISORS LP 0.02% of their portfolio | 5.0m $137.9m | Added +957.4k |
| STATE FARM MUTUAL AUTOMOBILE INSURANCE CO 0.09% of their portfolio | 4.8m $131.8m | Unchanged |
| WORLDQUANT MILLENNIUM ADVISORS LLC 0.45% of their portfolio | 4.8m $130.8m | Added +652.1k |
| BARCLAYS PLC 0.04% of their portfolio | 4.2m $114.6m | Added +1.8m |
| UBS AM, a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC 0.02% of their portfolio | 4.1m $111.4m | Reduced -148.6k |
| Bank of New York Mellon Corp 0.02% of their portfolio | 4.1m $111.2m | Reduced -69.2k |
| VANGUARD FIDUCIARY TRUST CO 0.02% of their portfolio | 4.0m $110.8m | Added +18.5k |
| Amundi 0.03% of their portfolio | 3.9m $107.5m | Added +2.5m |
| MILLENNIUM MANAGEMENT LLC 0.07% of their portfolio | 3.9m $105.6m | Added +1.5m |
| STIFEL FINANCIAL CORP 0.08% of their portfolio | 3.5m $96.5m | Reduced -102.0k |
| CITADEL ADVISORS LLC 0.05% of their portfolio | 3.2m $86.3m | Added +1.4m |
| JPMORGAN CHASE & CO 0.01% of their portfolio | 3.1m $87.3m | Reduced -70.3k |
| RENAISSANCE TECHNOLOGIES LLC 0.11% of their portfolio | 2.9m $79.2m | New |
| Legal & General Group Plc 0.02% of their portfolio | 2.7m $75.0m | Reduced -239.8k |
| ACADIAN ASSET MANAGEMENT LLC 0.08% of their portfolio | 2.6m $70.4m | Added +1.8m |
| WELLS FARGO & COMPANY/MN 0.01% of their portfolio | 2.6m $70.2m | Reduced -553.6k |
| Empower Advisory Group, LLC 0.16% of their portfolio | 2.5m $68.7m | Added +43.5k |
| DEUTSCHE BANK AG\ 0.02% of their portfolio | 2.3m $61.7m | Added +16.6k |
| PRIMECAP MANAGEMENT CO/CA/ 0.04% of their portfolio | 2.3m $61.6m | Reduced -2.1m |
| BNP PARIBAS ASSET MANAGEMENT Holding S.A. 0.06% of their portfolio | 2.0m $56.0m | Added +143.7k |
| Swiss National Bank 0.03% of their portfolio | 2.0m $55.6m | Reduced -55.0k |
| CONFLUENCE INVESTMENT MANAGEMENT LLC 0.79% of their portfolio | 1.9m $50.6m | Reduced -19.7k |
| Nuveen, LLC 0.01% of their portfolio | 1.8m $50.2m | Added +76.0k |
| Mitsubishi UFJ Asset Management Co., Ltd. 0.03% of their portfolio | 1.8m $48.3m | Added +158.1k |
| BNP PARIBAS FINANCIAL MARKETS 0.02% of their portfolio | 1.7m $45.5m | Added +83.1k |
| Cullen Capital Management, LLC 0.45% of their portfolio | 1.7m $45.4m | Reduced -902.7k |
| Man Group plc 0.08% of their portfolio | 1.6m $44.2m | Added +338.9k |
| Auto-Owners Insurance Co 1.00% of their portfolio | 1.6m $44.1m | Unchanged |
| Jump Financial, LLC 0.39% of their portfolio | 1.6m $43.3m | Added +1.4m |
| Vanguard Global Advisers, LLC 0.02% of their portfolio | 1.6m $43.1m | Added +9.7k |
| VANGUARD ASSET MANAGEMENT, Ltd 0.03% of their portfolio | 1.5m $41.7m | Added +189.2k |
| Sumitomo Mitsui Trust Group, Inc. 0.02% of their portfolio | 1.5m $41.4m | Reduced -1.5k |
| CITIGROUP INC 0.02% of their portfolio | 1.5m $40.9m | Added +530.8k |
| HSBC HOLDINGS PLC 0.02% of their portfolio | 1.5m $40.8m | Reduced -396.3k |
| HEALTHCARE OF ONTARIO PENSION PLAN TRUST FUND 0.06% of their portfolio | 1.4m $38.9m | Added +1.4m |
| NORDEA INVESTMENT MANAGEMENT AB 0.03% of their portfolio | 1.4m $37.3m | Added +161.9k |
| National Pension Service 0.02% of their portfolio | 1.3m $36.6m | Added +1.3m |
| ROYAL BANK OF CANADA 0.01% of their portfolio | 1.3m $36.1m | Reduced -405.3k |
| Connor, Clark & Lunn Investment Management Ltd. 0.07% of their portfolio | 1.3m $35.6m | Reduced -147.4k |
| RHUMBLINE ADVISERS 0.03% of their portfolio | 1.3m $35.2m | Added +1.1k |
| California Public Employees Retirement System 0.02% of their portfolio | 1.2m $32.9m | Added +312.9k |
| M&T Bank Corp 0.10% of their portfolio | 1.2m $32.5m | Reduced -28.5k |
| TRUIST FINANCIAL CORP 0.04% of their portfolio | 1.2m $31.9m | Added +234.5k |
| RAYMOND JAMES FINANCIAL INC 0.01% of their portfolio | 1.1m $30.6m | Reduced -59.9k |
| LPL Financial LLC 0.01% of their portfolio | 1.1m $30.1m | Reduced -37.5k |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP 0.03% of their portfolio | 1.1m $30.0m | Added +455.8k |
| PRICE T ROWE ASSOCIATES INC /MD/ 0.00% of their portfolio | 1.1m $29.1m | Added +17.7k |
| Trexquant Investment LP 0.17% of their portfolio | 1.0m $27.6m | Added +357.4k |
| Caisse de depot et placement du Quebec 0.04% of their portfolio | 1.0m $27.6m | New |
| Squarepoint Ops LLC 0.05% of their portfolio | 999.6k $27.3m | Added +980.5k |
| FOLGER NOLAN FLEMING DOUGLAS CAPITAL MANAGEMENT, INC 2.16% of their portfolio | 965.4k $26.4m | Unchanged |
| STOREBRAND ASSET MANAGEMENT AS 0.06% of their portfolio | 951.3k $26.0m | Added +670.8k |
| Russell Investments Group, Ltd. 0.02% of their portfolio | 935.7k $25.6m | Reduced -271.7k |
| PRUDENTIAL FINANCIAL INC 0.03% of their portfolio | 934.5k $25.6m | Added +583.5k |
| ALLIANCEBERNSTEIN L.P. 0.01% of their portfolio | 929.2k $38.7m | Reduced -243.5k |
| AMERIPRISE FINANCIAL INC 0.01% of their portfolio | 904.6k $24.7m | Added +190.1k |
| ENVESTNET ASSET MANAGEMENT INC 0.01% of their portfolio | 892.5k $24.4m | Reduced -241.5k |
| Pictet Asset Management Holding SA 0.02% of their portfolio | 872.9k $23.9m | Added +579.6k |
| PNC Financial Services Group, Inc. 0.01% of their portfolio | 870.6k $23.8m | Reduced -81.5k |
| ALPS ADVISORS INC 0.11% of their portfolio | 836.5k $22.9m | Added +117.1k |
| CALIFORNIA STATE TEACHERS RETIREMENT SYSTEM 0.02% of their portfolio | 836.4k $22.9m | Added +17.8k |
| Susquehanna Portfolio Strategies, LLC 0.36% of their portfolio | 831.3k $22.7m | Reduced -125.0k |
| CapWealth Advisors, LLC 1.55% of their portfolio | 823.6k $22.5m | Added +13.2k |
| Swiss Life Asset Management Ltd 0.09% of their portfolio | 804.7k $22.0m | Reduced -24.8k |
| Robeco Institutional Asset Management B.V. 0.03% of their portfolio | 794.3k $21.7m | New |
| PRINCIPAL FINANCIAL GROUP INC 0.01% of their portfolio | 786.4k $21.5m | Reduced -12.6k |
| STATE OF WISCONSIN INVESTMENT BOARD 0.04% of their portfolio | 736.3k $20.1m | Added +355.6k |
| CAPITAL FUND MANAGEMENT S.A. 0.14% of their portfolio | 718.9k $19.7m | Added +271.9k |
| LOS ANGELES CAPITAL MANAGEMENT LLC 0.07% of their portfolio | 709.4k $19.4m | Added +706.6k |
| SG Americas Securities, LLC 0.01% of their portfolio | 701.2k $19.2m | Reduced -442.0k |
| IEQ CAPITAL, LLC 0.09% of their portfolio | 692.7k $19.0m | Added +13.8k |
| CANADA PENSION PLAN INVESTMENT BOARD 0.01% of their portfolio | 689.8k $18.9m | Added +679.8k |
| Mariner, LLC 0.02% of their portfolio | 688.1k $18.8m | Added +108.7k |
| Korea Investment CORP 0.03% of their portfolio | 667.3k $18.3m | Reduced -369.7k |
| STATE BOARD OF ADMINISTRATION OF FLORIDA RETIREMENT SYSTEM 0.03% of their portfolio | 661.2k $18.1m | Reduced -9.1k |
| BANK OF MONTREAL /CAN/ 0.01% of their portfolio | 646.2k $17.7m | Added +193.3k |
| ADAGE CAPITAL PARTNERS GP, L.L.C. 0.02% of their portfolio | 642.4k $17.6m | Reduced -400 |