Dow Inc.

The full register, from 13F filings

The Register tab above is hand research: a dozen holders, each traced to the filing it came from. This asks the same question of the whole market for the quarter ended 31-mar-2026, where 1,285 managers reported a position. Broad where the research is deep, and shallow in the ways a 13F always is.

Built from 13F filings, which report US listed, long, US custodied positions only. A register from this source is a floor rather than a level: a holder's true position can be far larger, as BlackRock's ASML stake shows at 1.28m shares in a 13F against 26.3m in its 13G/A. Holdings held through derivatives, outside US custody, or below a manager's reporting obligation do not appear. Where a holder is marked as a family, its total sums several separate filing entities and describes something no single filing describes; the constituent entities and their share counts are listed so the total can be checked. That roll-up can legitimately exceed the family's own Schedule 13G, because a 13G is filed by one legal entity: Vanguard reports Alphabet through ten advisory entities, and The Vanguard Group Inc itself reported zero after its January 2026 disaggregation.

What a reader needs to know to read these numbers

• Holdings are nine private Dow joint ventures, every one named and percentage-sized directly in the FY2025 10-K's 'Principal Partly Owned Companies' table (Item 1, as of 31 Dec 2025): EQUATE, Kuwait Olefins and Kuwait Styrene (all 42.50 percent, Kuwait), Map Ta Phut (32.77 percent effective, Thailand), Sadara (35.00 percent, Saudi Arabia), and the four SCGC-Dow Group entities in Thailand, Siam Polyethylene, Siam Polystyrene, Siam Styrene Monomer and Siam Synthetic Latex (each 50.00 percent). This is the JV-heavy company the research task warned about, so every pct_of_target above was read back against its own method_note prose before writing this file, and none is a fraction (written as 42.5, 32.77, 35.0 and 50.0, never 0.425/0.3277/0.35/0.5).
• Combined-balance trap: none of the nine holdings gets an individual value_usd. Dow's Q2 2026 10-Q (Note 12) reports a single 'Investment in nonconsolidated affiliates' balance of $1,121 million at 30 Jun 2026 ($1,264 million at 31 Dec 2025 per the FY2025 10-K's Note 11, which further breaks out $747 million as 'Investment in principal nonconsolidated affiliates' covering just the nine affiliates above, net of $933 million of 'Other noncurrent obligations' owed to some of the same affiliates, for a net investment/liability position of negative $186 million at 31 Dec 2025). None of these balances is split by investee anywhere in either filing, so per the brief's rule against assigning a combined balance to one investee, every holding row carries value_usd: null and the combined figures are recorded here rather than guessed.
• One specific individually disclosed figure exists and was NOT used as a value: the Q2 2026 10-Q states Dow's investment balance in EQUATE specifically was NEGATIVE $58 million at 30 Jun 2026 (negative $24 million at 31 Dec 2025), reported within 'Other noncurrent obligations'. This is a liability from cumulative losses/distributions exceeding invested capital, not a positive carrying value, so it is not written into EQUATE's value_usd field.
• Dow's own Q2 2026 10-K/10-Q searches for 'Kuwait', 'Hemlock', 'Map Ta Phut' (exact spelling), 'Dow Corning' and 'Thai' each returned zero hits in isolation because the filings spell these differently or in XBRL-tagged form; the affiliates were instead found through the 'Sadara' and 'EQUATE' hits and the Item 1 'Principal Partly Owned Companies' table, and Hemlock Semiconductor and Dow Corning (a legacy joint venture dissolved into Dow's silicones business years before this filing period) do not appear anywhere in either filing searched.
• The register uses each institution's Q2 2026 Form 13F-HR (30 Jun 2026 position date) as the primary source. The 2026 proxy's own stale Schedule 13G/A-based summary names only two 5 percent+ holders, BlackRock at 47,213,620 shares (6.6 percent, per a 13G/A filed 26 Jan 2024) and Vanguard at 82,116,884 shares (11.4 percent, source date not stated in the excerpt read), both materially different from the fresher 13F figures used here (BlackRock 61,742,580 shares/8.55 percent, Vanguard family 81,918,105 shares/11.34 percent), consistent with stale 13G filings rather than an error.
• Dow has a single class of common stock, no dual-class or founder-control structure, and Chair/CEO Jim Fitterling's beneficial ownership (2,075,141 shares) is under 1 percent, so there is no insider control story to flag beyond the standard officer/director aggregate.
• Self-gate, computed the way the chart computes it: 9 register rows, raw shares summed with the officer/director aggregate reduced to its residual (3,877,834 minus Fitterling's 2,075,141 rolled-up shares = 1,802,693) and Fitterling counted at full value, gives a total of 231,249,123 shares against 722,340,711 shares outstanding, or 32.01 percent, within the expected 25 to 45 percent range.