Vault-13

KELLANOVA K

COM · Common Stock · CUSIP 487836108 · ISIN US4878361082

904 institutional holders -18 vs Q1 2023
286,492,256286.5m shares reported held*
$19.3bnreported value*
57 new 332 added 305 reduced 85 sold out net bought ≈ $15.5m (-861.1k shares)

* 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 ($285.1m this quarter). Holder counts are more reliable. Implied quarter-end price ≈ $67.38. Options: 22 managers hold calls ($127.1m notional), 24 hold puts ($97.8m).

Trends to Q2 2023

Institutional holders

Managers reporting a position, each quarter

05001kQ3 22: 883Q4 22: 919Q1 23: 922Q2 23: 904904Q3 22Q4 22Q1 23Q2 23
Numbers
QuarterHolders
Q3 2022883
Q4 2022919
Q1 2023922
Q2 2023904

Buyers vs sellers

Managers adding to or starting a position, vs cutting or selling out

Bought or addedCut or sold out
5000500Q4 22: 401 bought or addedQ4 22: 355 cut or sold outQ4 22Q1 23: 383 bought or addedQ1 23: 410 cut or sold outQ1 23Q2 23: 389 bought or addedQ2 23: 390 cut or sold outQ2 23
Numbers
QuarterBought or addedCut or sold out
Q4 2022401355
Q1 2023383410
Q2 2023389390

Calls vs puts

Options held, notional value, last 4 quarters. P/C = puts ÷ calls

CallsPuts
$0$100m$200m$300m$400mQ3 22 calls: $177.7mQ3 22 puts: $297.6mQ3 22P/C 1.67Q4 22 calls: $175.7mQ4 22 puts: $303.8mQ4 22P/C 1.73Q1 23 calls: $137.4mQ1 23 puts: $103.0mQ1 23P/C 0.75Q2 23 calls: $127.1mQ2 23 puts: $97.8mQ2 23P/C 0.77
Numbers
QuarterCallsPutsP/C
Q3 2022$177.7m$297.6m1.67
Q4 2022$175.7m$303.8m1.73
Q1 2023$137.4m$103.0m0.75
Q2 2023$127.1m$97.8m0.77

Biggest buyers

Sessa Capital IM, L.P. Added +3,020,110+3.0m
WELLINGTON MANAGEMENT GROUP LLP Added +2,684,445+2.7m
MILLENNIUM MANAGEMENT LLC Added +935,365+935.4k
VAN ECK ASSOCIATES CORP Added +857,994+858.0k
Man Group plc New +671,446+671.4k
Amundi Added +407,792+407.8k
GOLDMAN SACHS GROUP INC Added +398,054+398.1k
Schonfeld Strategic Advisors LLC Added +320,992+321.0k
UBS Group AG Added +278,027+278.0k
DEUTSCHE BANK AG\ Added +243,067+243.1k

Biggest sellers

AMERIPRISE FINANCIAL INC Reduced -1,670,421-1.7m
ENVESTNET ASSET MANAGEMENT INC Reduced -1,624,243-1.6m
MASSACHUSETTS FINANCIAL SERVICES CO /MA/ Sold out -1,388,767-1.4m
FMR LLC Reduced -1,187,157-1.2m
NORDEA INVESTMENT MANAGEMENT AB Reduced -1,037,042-1.0m
BlackRock Inc. Reduced -839,750-839.8k
BANK OF AMERICA CORP /DE/ Reduced -603,271-603.3k
KELLOGG W K FOUNDATION TRUST Reduced -600,000-600.0k
PANAGORA ASSET MANAGEMENT INC Reduced -546,417-546.4k
Man Group plc Sold out -532,403-532.4k

Biggest calls

SUSQUEHANNA INTERNATIONAL GROUP, LLP Added $55.7m826.8k shares
CITADEL ADVISORS LLC Reduced $13.6m202.1k shares
JANE STREET GROUP, LLC Added $12.9m192.1k shares
SIMPLEX TRADING, LLC Added $11.2m166.6k shares
GROUP ONE TRADING LLC Added $8.6m128.2k shares
MILLENNIUM MANAGEMENT LLC Reduced $4.7m69.1k shares
WOLVERINE TRADING, LLC Reduced $4.2m63.0k shares
Parallax Volatility Advisers, L.P. Added $3.4m50.1k shares
IMC-Chicago, LLC Added $3.2m47.2k shares
Walleye Capital LLC New $2.7m40.2k shares

Biggest puts

SUSQUEHANNA INTERNATIONAL GROUP, LLP Added $33.7m499.3k shares
JANE STREET GROUP, LLC Added $14.9m220.4k shares
Westchester Capital Management, LLC Reduced $12.7m188.2k shares
CITADEL ADVISORS LLC Reduced $10.4m154.2k shares
BNP PARIBAS FINANCIAL MARKETS Unchanged $3.9m586 shares
GROUP ONE TRADING LLC Added $3.6m53.9k shares
SIMPLEX TRADING, LLC Reduced $2.9m43.3k shares
MILLENNIUM MANAGEMENT LLC Added $2.5m36.9k shares
IMC-Chicago, LLC Added $2.2m32.7k shares
WOLVERINE TRADING, LLC Added $2.2m32.6k 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.

HolderStakeChangeShares Last filed
BlackRock, Inc. 13G · institution filed 2025-02-05 7.7% 26.4m 2025-02-05

Fell to 5% or below in the last year: NORTHERN TRUST CORP (0.0%, 2026-02-17), KELLOGG W K FOUNDATION TRUST (0.0%, 2026-02-13), KEYBANK NATIONAL ASSOCIATION/OH (0.0%, 2026-01-07), GUND GORDON (0.0%, 2025-12-15)

Holders, Q2 2023

#ManagerLocationShares Value% of their portfolioChangeShares change
1 KELLOGG W K FOUNDATION TRUST 100.00% of their portfolio CHICAGO, IL 54,731,83854.7m $3.7bn $3.7bn 100.00% Reduced -600.0k -600,000
2 VANGUARD GROUP INC 0.05% of their portfolio Valley Forge, PA 30,984,38131.0m $2.1bn $2.1bn 0.05% Reduced -113.0k -113,050
3 BlackRock Inc. 0.06% of their portfolio New York, NY 30,858,07130.9m $2.1bn $2.1bn 0.06% Reduced -839.8k -839,750
4 KEYBANK NATIONAL ASSOCIATION/OH 6.30% of their portfolio BROOKLYN, OH 20,590,61320.6m $1.4bn $1.4bn 6.30% Reduced -59.8k -59,791
5 WELLINGTON MANAGEMENT GROUP LLP 0.17% of their portfolio Boston, MA 13,673,78413.7m $921.6m $921.6m 0.17% Added +2.7m +2,684,445
6 STATE STREET CORP 0.05% of their portfolio BOSTON, MA 13,167,39113.2m $887.5m $887.5m 0.05% Reduced -6.9k -6,920
7 GEODE CAPITAL MANAGEMENT, LLC 0.05% of their portfolio BOSTON, MA 5,855,4955.9m $393.7m $393.7m 0.05% Added +196.1k +196,091
8 CHARLES SCHWAB INVESTMENT MANAGEMENT INC 0.10% of their portfolio SAN FRANCISCO, CA 5,358,5455.4m $361.2m $361.2m 0.10% Added +238.0k +238,002
9 Beutel, Goodman & Co Ltd. 1.60% of their portfolio TORONTO, A6 4,236,9484.2m $285.6m $285.6m 1.60% Added +48.9k +48,940
10 Invesco Ltd. 0.07% of their portfolio ATLANTA, GA 3,857,7813.9m $260.0m $260.0m 0.07% Reduced -100.6k -100,556
11 VAN ECK ASSOCIATES CORP 0.57% of their portfolio NEW YORK, NY 3,839,0303.8m $258.8m $258.8m 0.57% Added +858.0k +857,994
12 NORTHERN TRUST CORP 0.05% of their portfolio CHICAGO, IL 3,788,2863.8m $255.3m $255.3m 0.05% Reduced -184.2k -184,168
13 MORGAN STANLEY 0.02% of their portfolio NEW YORK, NY 3,309,7733.3m $223.1m $223.1m 0.02% Added +239.0k +238,986
14 Sessa Capital IM, L.P. 10.62% of their portfolio NEW YORK, NY 3,168,3583.2m $213.5m $213.5m 10.62% Added +3.0m +3,020,110
15 Amundi 0.09% of their portfolio Paris, I0 2,487,8222.5m $170.5m $170.5m 0.09% Added +407.8k +407,792
16 DIMENSIONAL FUND ADVISORS LP 0.05% of their portfolio AUSTIN, TX 2,445,1092.4m $164.8m $164.8m 0.05% Reduced -1.4k -1,380
17 RENAISSANCE TECHNOLOGIES LLC 0.24% of their portfolio NEW YORK, NY 2,425,9062.4m $163.5m $163.5m 0.24% Reduced -21.3k -21,300
18 STATE FARM MUTUAL AUTOMOBILE INSURANCE CO 0.16% of their portfolio BLOOMINGTON, IL 2,416,2612.4m $162.9m $162.9m 0.16% Unchanged
19 Bank of New York Mellon Corp 0.03% of their portfolio NEW YORK, NY 2,412,9662.4m $162.6m $162.6m 0.03% Reduced -12.3k -12,297
20 UBS AM, a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC 0.08% of their portfolio NEW YORK, NY 2,404,0722.4m $161.0m $161.0m 0.08% Unchanged
21 Legal & General Group Plc 0.05% of their portfolio London, X0 2,321,8632.3m $156.5m $156.5m 0.05% Added +11.6k +11,577
22 ACADIAN ASSET MANAGEMENT LLC 0.51% of their portfolio Boston, MA 1,859,0611.9m $125.3m $125.3m 0.51% Reduced -39.7k -39,730
23 FIRST TRUST ADVISORS LP 0.14% of their portfolio Wheaton, IL 1,817,5801.8m $122.5m $122.5m 0.14% Reduced -498.2k -498,201
24 NORGES BANK 0.02% of their portfolio OSLO, Q8 1,743,6121.7m $117.5m $117.5m 0.02% Reduced -52.7k -52,705
25 MARSHALL WACE, LLP 0.24% of their portfolio LONDON, X0 1,668,7921.7m $112.5m $112.5m 0.24% Added +153.3k +153,296
26 California Public Employees Retirement System 0.09% of their portfolio Sacramento, CA 1,608,5151.6m $108.4m $108.4m 0.09% Reduced -65.9k -65,859
27 GOLDMAN SACHS GROUP INC 0.03% of their portfolio NEW YORK, NY 1,485,0151.5m $100.1m $100.1m 0.03% Added +398.1k +398,054
28 MILLENNIUM MANAGEMENT LLC 0.10% of their portfolio NEW YORK, NY 1,403,0851.4m $94.6m $94.6m 0.10% Added +935.4k +935,365
29 DekaBank Deutsche Girozentrale 0.21% of their portfolio FRANKFURT, 2M 1,369,7041.4m $92.7m $92.7m 0.21% Added +100.3k +100,261
30 SOUTHEASTERN ASSET MANAGEMENT INC/TN/ 3.10% of their portfolio MEMPHIS, TN 1,303,6921.3m $87.9m $87.9m 3.10% Reduced -4.7k -4,716
31 DEUTSCHE BANK AG\ 0.05% of their portfolio FRANKFURT AM MAIN, 2M 1,261,7911.3m $85.0m $85.0m 0.05% Added +243.1k +243,067
32 FMR LLC 0.01% of their portfolio BOSTON, MA 1,211,3391.2m $81.6m $81.6m 0.01% Reduced -1.2m -1,187,157
33 JPMORGAN CHASE & CO 0.01% of their portfolio NEW YORK, NY 1,188,0371.2m $80.1m $80.1m 0.01% Added +86.6k +86,565
34 BANK OF AMERICA CORP /DE/ 0.01% of their portfolio CHARLOTTE, NC 1,163,6411.2m $78.4m $78.4m 0.01% Reduced -603.3k -603,271
35 TD Asset Management Inc 0.08% of their portfolio Toronto, A6 1,103,2081.1m $74.4m $74.4m 0.08% Reduced -21.8k -21,754
36 Swiss National Bank 0.05% of their portfolio ZURICH, V8 990,100990.1k $66.7m $66.7m 0.05% Reduced -25.7k -25,700
37 Nuveen Asset Management, LLC 0.02% of their portfolio CHICAGO, IL 973,854973.9k $65.6m $65.6m 0.02% Reduced -57.0k -56,957
38 APG Asset Management N.V. 0.12% of their portfolio Amsterdam, P7 961,817961.8k $59.4m $59.4m 0.12% Added +10.4k +10,400
39 BARCLAYS PLC 0.04% of their portfolio LONDON, X0 939,009939.0k $63.3m $63.3m 0.04% Reduced -28.3k -28,297
40 UBS Group AG 0.03% of their portfolio ZURICH, V8 883,254883.3k $59.5m $59.5m 0.03% Added +278.0k +278,027
41 Sumitomo Mitsui Trust Group, Inc. 0.04% of their portfolio CHIYODA-KU, TOKYO, M0 852,022852.0k $57.4m $57.4m 0.04% Reduced -74.0k -73,961
42 Aberdeen Group plc 0.13% of their portfolio EDINBURGH, X0 833,894833.9k $56.2m $56.2m 0.13% Added +94.6k +94,630
43 CREDIT SUISSE AG/ 0.05% of their portfolio ZURICH, V8 812,762812.8k $54.8m $54.8m 0.05% Reduced -17.7k -17,735
44 HSBC HOLDINGS PLC 0.06% of their portfolio LONDON, X0 778,442778.4k $52.5m $52.5m 0.06% Reduced -200.4k -200,436
45 BANK OF MONTREAL /CAN/ 0.02% of their portfolio TORONTO, A6 761,590761.6k $51.4m $51.4m 0.02% Added +95.2k +95,237
46 TWO SIGMA INVESTMENTS, LP 0.13% of their portfolio NEW YORK, NY 734,908734.9k $49.5m $49.5m 0.13% Added +55.1k +55,138
47 JANUS HENDERSON GROUP PLC 0.03% of their portfolio LONDON, X0 726,291726.3k $49.0m $49.0m 0.03% Added +22.8k +22,773
48 Allspring Global Investments Holdings, LLC 0.08% of their portfolio CHARLOTTE, NC 714,019714.0k $48.1m $48.1m 0.08% Reduced -55.2k -55,217
49 BROWN ADVISORY INC 0.07% of their portfolio BALTIMORE, MD 706,892706.9k $47.6m $47.6m 0.07% Added +14.6k +14,575
50 NEUBERGER BERMAN GROUP LLC 0.04% of their portfolio NEW YORK, NY 679,612679.6k $45.8m $45.8m 0.04% Reduced -55.1k -55,120
51 Ensign Peak Advisors, Inc 0.09% of their portfolio SALT LAKE CITY, UT 676,379676.4k $45.6m $45.6m 0.09% Reduced -6.0k -6,050
52 Man Group plc 0.14% of their portfolio LONDON, X0 671,446671.4k $45.3m $45.3m 0.14% New
53 AMERIPRISE FINANCIAL INC 0.01% of their portfolio MINNEAPOLIS, MN 612,715612.7k $41.3m $41.3m 0.01% Reduced -1.7m -1,670,421
54 STOREBRAND ASSET MANAGEMENT AS 0.19% of their portfolio LYSAKER, Q8 602,291602.3k $40.6m $40.6m 0.19% Reduced -13.9k -13,944
55 ROYAL BANK OF CANADA 0.01% of their portfolio TORONTO, A6 580,785580.8k $39.1m $39.1m 0.01% Added +20.9k +20,905
56 TOBAM 2.89% of their portfolio PARIS, I0 569,091569.1k $38.4m $38.4m 2.89% Reduced -65.6k -65,591
57 Bridgewater Associates, LP 0.23% of their portfolio Westport, CT 558,704558.7k $37.7m $37.7m 0.23% Added +18.6k +18,640
58 RHUMBLINE ADVISERS 0.04% of their portfolio BOSTON, MA 553,749553.7k $37.3m $37.3m 0.04% Added +17.3k +17,349
59 GLENMEDE TRUST CO NA 0.21% of their portfolio PHILADELPHIA, PA 548,712548.7k $36.7m $36.7m 0.21% Unchanged
60 OLD REPUBLIC INTERNATIONAL CORP 1.20% of their portfolio CHICAGO, IL 542,000542.0k $36.5m $36.5m 1.20% Unchanged
61 CITIGROUP INC 0.05% of their portfolio NEW YORK, NY 527,735527.7k $35.6m $35.6m 0.05% Reduced -287 -287
62 BNP PARIBAS ASSET MANAGEMENT Holding S.A. 0.11% of their portfolio Paris, I0 526,500526.5k $35.5m $35.5m 0.11% Added +23.0k +23,022
63 LSV ASSET MANAGEMENT 0.08% of their portfolio CHICAGO, IL 521,548521.5k $35.2m $35.2m 0.08% Reduced -37.9k -37,900
64 VICTORY CAPITAL MANAGEMENT INC 0.04% of their portfolio San Antonio, TX 515,236515.2k $34.7m $34.7m 0.04% Reduced -365.3k -365,251
65 InterOcean Capital Group, LLC 1.06% of their portfolio NASHVILLE, TN 501,944501.9k $33.8m $33.8m 1.06% Added +44.9k +44,854
66 BNP PARIBAS FINANCIAL MARKETS 0.07% of their portfolio PARIS, I0 501,531501.5k $33.8m $33.8m 0.07% Added +25.2k +25,217
67 Tredje AP-fonden 0.48% of their portfolio SE-111 91 STOCKHOLM, V7 499,480499.5k $33.7m $33.7m 0.48% Added +115.2k +115,205
68 Railway Pension Investments Ltd 0.32% of their portfolio LONDON, X0 482,357482.4k $32.5m $32.5m 0.32% Unchanged
69 WELLS FARGO & COMPANY/MN 0.01% of their portfolio SAN FRANCISCO, CA 470,176470.2k $31.7m $31.7m 0.01% Added +33.8k +33,834
70 Russell Investments Group, Ltd. 0.06% of their portfolio Seattle, WA 458,690458.7k $30.9m $30.9m 0.06% Reduced -108.3k -108,322
71 National Pension Service 0.05% of their portfolio JEONJU-SI, JEOLLABUK-DO, M5 448,522448.5k $30.0m $30.0m 0.05% Added +21.7k +21,660
72 Mitsubishi UFJ Trust & Banking Corp 0.07% of their portfolio TOKYO, M0 447,130447.1k $30.1m $30.1m 0.07% Added +12.0k +11,969
73 CALIFORNIA STATE TEACHERS RETIREMENT SYSTEM 0.04% of their portfolio WEST SACRAMENTO, CA 440,280440.3k $29.7m $29.7m 0.04% Added +11.2k +11,169
74 INTECH INVESTMENT MANAGEMENT LLC 0.28% of their portfolio WEST PALM BEACH, FL 402,636402.6k $27.1m $27.1m 0.28% Reduced -248.5k -248,512
75 CANADA PENSION PLAN INVESTMENT BOARD 0.04% of their portfolio TORONTO ONTARIO, A6 400,869400.9k $27.0m $27.0m 0.04% Reduced -114.2k -114,238
76 Retirement Systems of Alabama 0.12% of their portfolio MONTGOMERY, AL 383,325383.3k $25.8m $25.8m 0.12% Reduced -17.2k -17,229
77 DZ BANK AG Deutsche Zentral Genossenschafts Bank, Frankfurt am Main 0.04% of their portfolio FRANKFURT AM MAIN, 2M 375,936375.9k $25.3m $25.3m 0.04% Reduced -6.7k -6,664
78 RAYMOND JAMES & ASSOCIATES 0.02% of their portfolio ST PETERSBURG, FL 370,809370.8k $25.0m $25.0m 0.02% Added +115.3k +115,266
79 AVIVA PLC 0.10% of their portfolio LONDON, X0 365,277365.3k $24.6m $24.6m 0.10% Added +14.7k +14,716
80 VOLORIDGE INVESTMENT MANAGEMENT, LLC 0.12% of their portfolio JUPITER, FL 362,083362.1k $24.4m $24.4m 0.12% Reduced -138.6k -138,626
81 NEW YORK STATE COMMON RETIREMENT FUND 0.03% of their portfolio ALBANY, NY 361,114361.1k $24.3m $24.3m 0.03% Added +3.7k +3,727
82 ALLIANCEBERNSTEIN L.P. 0.01% of their portfolio NASHVILLE, TN 360,381360.4k $24.3m $24.3m 0.01% Added +16.9k +16,922
83 PRINCIPAL FINANCIAL GROUP INC 0.02% of their portfolio DES MOINES, IA 353,649353.6k $23.8m $23.8m 0.02% Reduced -16.6k -16,575
84 PRICE T ROWE ASSOCIATES INC /MD/ 0.00% of their portfolio BALTIMORE, MD 342,060342.1k $23.1m $23.1m 0.00% Added +285 +285
85 Swiss Life Asset Management Ltd 0.34% of their portfolio Zurich, V8 336,348336.3k $22.7m $22.7m 0.34% Reduced -27.3k -27,290
86 Caisse de depot et placement du Quebec 0.06% of their portfolio Montreal, A8 334,766334.8k $22.6m $22.6m 0.06% Added +8.2k +8,212
87 AQR CAPITAL MANAGEMENT LLC 0.05% of their portfolio Greenwich, CT 332,880332.9k $22.3m $22.3m 0.05% Added +31.8k +31,807
88 FRANKLIN RESOURCES INC 0.01% of their portfolio San Mateo, CA 327,886327.9k $22.1m $22.1m 0.01% Reduced -119.8k -119,810
89 Schonfeld Strategic Advisors LLC 0.19% of their portfolio NEW YORK, NY 324,415324.4k $21.9m $21.9m 0.19% Added +321.0k +320,992
90 TORONTO DOMINION BANK 0.02% of their portfolio TORONTO, ONTARIO, A6 318,914318.9k $21.5m $21.5m 0.02% Added +175.0k +175,022
91 STATE BOARD OF ADMINISTRATION OF FLORIDA RETIREMENT SYSTEM 0.05% of their portfolio TALLAHASSEE, FL 309,140309.1k $20.8m $20.8m 0.05% Reduced -2.6k -2,579
92 LOS ANGELES CAPITAL MANAGEMENT LLC 0.08% of their portfolio LOS ANGELES, CA 301,822301.8k $20.3m $20.3m 0.08% Added +138.2k +138,235
93 KORNITZER CAPITAL MANAGEMENT INC /KS 0.40% of their portfolio SHAWNEE MISSION, KS 299,146299.1k $20.2m $20.2m 0.40% Reduced -465 -465
94 DAYMARK WEALTH PARTNERS, LLC 1.49% of their portfolio CINCINNATI, OH 297,142297.1k $20.0m $20.0m 1.49% Unchanged
95 Cubist Systematic Strategies, LLC 0.22% of their portfolio STAMFORD, CT 291,487291.5k $19.6m $19.6m 0.22% Added +104.9k +104,897
96 W1M Asset Management Ltd 1.90% of their portfolio London, X0 284,443284.4k $19.2m $19.2m 1.90% Reduced -14.4k -14,385
97 CANTOR FITZGERALD, L. P. 0.44% of their portfolio NEW YORK, NY 283,054283.1k $19.1m $19.1m 0.44% Reduced -4.7k -4,712
98 MACQUARIE GROUP LTD 0.02% of their portfolio Sydney, NSW 2000, C3 279,522279.5k $18.8m $18.8m 0.02% Reduced -832 -832
99 Swedbank AB 0.03% of their portfolio STOCKHOLM, V7 274,778274.8k $18.5m $18.5m 0.03% Reduced -1.1k -1,091
100 CANADA LIFE ASSURANCE Co 0.04% of their portfolio WINNIPEG, A2 272,955273.0k $18.5m $18.5m 0.04% Reduced -72.8k -72,789