Vault-13

KELLANOVA K

COM · Common Stock · CUSIP 487836108 · ISIN US4878361082

872 institutional holders +33 vs Q1 2024
292,457,038292.5m shares reported held*
$16.9bnreported value*
90 new 291 added 308 reduced 53 sold out net sold ≈ $444.1m (-7.7m 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 ($307.5m this quarter). Holder counts are more reliable. Implied quarter-end price ≈ $57.66. Options: 23 managers hold calls ($141.8m notional), 19 hold puts ($98.7m).

Trends to Q2 2024

Institutional holders

Managers reporting a position, each quarter

05001kQ3 22: 883Q4 22: 919Q1 23: 922Q2 23: 904Q3 23: 873Q4 23: 863Q1 24: 839Q2 24: 872872Q3 22Q1 23Q3 23Q1 24Q2 24
Numbers
QuarterHolders
Q3 2022883
Q4 2022919
Q1 2023922
Q2 2023904
Q3 2023873
Q4 2023863
Q1 2024839
Q2 2024872

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 outQ2 23: 389 bought or addedQ2 23: 390 cut or sold outQ2 23Q3 23: 367 bought or addedQ3 23: 427 cut or sold outQ4 23: 336 bought or addedQ4 23: 463 cut or sold outQ4 23Q1 24: 359 bought or addedQ1 24: 409 cut or sold outQ2 24: 381 bought or addedQ2 24: 361 cut or sold outQ2 24
Numbers
QuarterBought or addedCut or sold out
Q4 2022401355
Q1 2023383410
Q2 2023389390
Q3 2023367427
Q4 2023336463
Q1 2024359409
Q2 2024381361

Calls vs puts

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

CallsPuts
$0$100m$200m$300mQ3 23 calls: $212.6mQ3 23 puts: $141.9mQ3 23P/C 0.67Q4 23 calls: $143.3mQ4 23 puts: $130.2mQ4 23P/C 0.91Q1 24 calls: $106.1mQ1 24 puts: $98.0mQ1 24P/C 0.92Q2 24 calls: $141.8mQ2 24 puts: $98.7mQ2 24P/C 0.70
Numbers
QuarterCallsPutsP/C
Q3 2023$212.6m$141.9m0.67
Q4 2023$143.3m$130.2m0.91
Q1 2024$106.1m$98.0m0.92
Q2 2024$141.8m$98.7m0.70

Biggest buyers

CITADEL ADVISORS LLC Added +2,454,919+2.5m
MILLENNIUM MANAGEMENT LLC Added +1,990,936+2.0m
D. E. Shaw & Co., Inc. Added +1,664,461+1.7m
MAVERICK CAPITAL LTD New +1,526,789+1.5m
Focus Partners Wealth New +1,114,260+1.1m
Point72 Asset Management, L.P. New +1,102,367+1.1m
Ilex Capital Partners (UK) LLP New +991,712+991.7k
UBS AM, a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Added +860,577+860.6k
NORGES BANK Added +695,783+695.8k
Robeco Institutional Asset Management B.V. Added +614,782+614.8k

Biggest sellers

MORGAN STANLEY Reduced -8,522,188-8.5m
WELLINGTON MANAGEMENT GROUP LLP Reduced -6,333,862-6.3m
TWO SIGMA INVESTMENTS, LP Reduced -1,392,506-1.4m
TWO SIGMA ADVISERS, LP Reduced -1,187,700-1.2m
STATE STREET CORP Reduced -1,009,078-1.0m
KELLOGG W K FOUNDATION TRUST Reduced -933,600-933.6k
RENAISSANCE TECHNOLOGIES LLC Reduced -714,500-714.5k
MARSHALL WACE, LLP Reduced -607,746-607.7k
HRT FINANCIAL LP Sold out -539,815-539.8k
BANK OF AMERICA CORP /DE/ Reduced -480,571-480.6k

Biggest calls

SUSQUEHANNA INTERNATIONAL GROUP, LLP Reduced $29.7m515.6k shares
Candlestick Capital Management LP New $23.1m400.0k shares
GOLDMAN SACHS GROUP INC Added $18.2m315.2k shares
CITADEL ADVISORS LLC Reduced $17.0m294.2k shares
WOLVERINE TRADING, LLC Added $12.4m215.4k shares
IMC-Chicago, LLC Added $8.9m154.7k shares
NOMURA HOLDINGS INC New $8.7m150.3k shares
SIMPLEX TRADING, LLC Reduced $6.3m125.9k shares
GROUP ONE TRADING LLC Added $5.7m98.6k shares
JANE STREET GROUP, LLC Added $3.2m55.3k shares

Biggest puts

SUSQUEHANNA INTERNATIONAL GROUP, LLP Added $24.5m425.3k shares
CITADEL ADVISORS LLC Added $22.9m397.6k shares
CAPITAL FUND MANAGEMENT S.A. Reduced $14.4m249.3k shares
GROUP ONE TRADING LLC Reduced $8.2m142.7k shares
SIMPLEX TRADING, LLC Added $7.2m141.6k shares
Squarepoint Ops LLC Reduced $5.1m88.5k shares
IMC-Chicago, LLC Added $4.8m83.7k shares
GTS SECURITIES LLC Added $4.3m75.2k shares
WOLVERINE TRADING, LLC Added $2.0m34.7k shares
CAPSTONE INVESTMENT ADVISORS, LLC Added $2.0m34.4k 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 2024

#ManagerLocationShares Value% of their portfolioChangeShares change
1 KELLOGG W K FOUNDATION TRUST 93.00% of their portfolio CHICAGO, IL 51,219,83851.2m $3.0bn $3.0bn 93.00% Reduced -933.6k -933,600
2 VANGUARD GROUP INC 0.04% of their portfolio Valley Forge, PA 31,639,12931.6m $1.8bn $1.8bn 0.04% Added +10.0k +9,985
3 BlackRock Inc. 0.04% of their portfolio New York, NY 28,500,57528.5m $1.6bn $1.6bn 0.04% Reduced -437.1k -437,062
4 KEYBANK NATIONAL ASSOCIATION/OH 4.63% of their portfolio BROOKLYN, OH 19,611,35119.6m $1.1bn $1.1bn 4.63% Reduced -421.4k -421,440
5 STATE STREET CORP 0.04% of their portfolio BOSTON, MA 13,994,14714.0m $807.2m $807.2m 0.04% Reduced -1.0m -1,009,078
6 Beutel, Goodman & Co Ltd. 2.17% of their portfolio TORONTO, A6 7,088,6607.1m $408.9m $408.9m 2.17% Added +430.4k +430,418
7 Sessa Capital IM, L.P. 15.67% of their portfolio NEW YORK, NY 6,959,3087.0m $401.4m $401.4m 15.67% Unchanged
8 GEODE CAPITAL MANAGEMENT, LLC 0.03% of their portfolio BOSTON, MA 6,528,9686.5m $375.6m $375.6m 0.03% Added +159.6k +159,584
9 Invesco Ltd. 0.07% of their portfolio ATLANTA, GA 5,554,6565.6m $320.4m $320.4m 0.07% Reduced -257.6k -257,591
10 NORGES BANK 0.04% of their portfolio OSLO, Q8 4,377,3834.4m $252.5m $252.5m 0.04% Added +695.8k +695,783
11 TOMS Capital Investment Management LP 16.56% of their portfolio NEW YORK, NY 3,862,1003.9m $222.8m $222.8m 16.56% Added +75.1k +75,100
12 NORTHERN TRUST CORP 0.04% of their portfolio CHICAGO, IL 3,673,5433.7m $211.9m $211.9m 0.04% Reduced -390.2k -390,224
13 MORGAN STANLEY 0.02% of their portfolio NEW YORK, NY 3,489,7313.5m $201.3m $201.3m 0.02% Reduced -8.5m -8,522,188
14 UBS AM, a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC 0.06% of their portfolio NEW YORK, NY 3,418,1723.4m $197.2m $197.2m 0.06% Added +860.6k +860,577
15 Amundi 0.07% of their portfolio Paris, I0 3,389,6953.4m $192.1m $192.1m 0.07% Reduced -421.3k -421,263
16 MILLENNIUM MANAGEMENT LLC 0.15% of their portfolio NEW YORK, NY 3,093,6393.1m $178.4m $178.4m 0.15% Added +2.0m +1,990,936
17 JPMORGAN CHASE & CO 0.01% of their portfolio NEW YORK, NY 2,953,3483.0m $170.3m $170.3m 0.01% Reduced -343.7k -343,726
18 CITADEL ADVISORS LLC 0.16% of their portfolio MIAMI, FL 2,835,1712.8m $163.5m $163.5m 0.16% Added +2.5m +2,454,919
19 DIMENSIONAL FUND ADVISORS LP 0.04% of their portfolio AUSTIN, TX 2,616,3122.6m $150.9m $150.9m 0.04% Added +277.2k +277,171
20 STATE FARM MUTUAL AUTOMOBILE INSURANCE CO 0.13% of their portfolio BLOOMINGTON, IL 2,416,2612.4m $139.4m $139.4m 0.13% Unchanged
21 Legal & General Group Plc 0.04% of their portfolio London, X0 2,401,4292.4m $138.5m $138.5m 0.04% Added +2.6k +2,572
22 YACKTMAN ASSET MANAGEMENT LP 1.16% of their portfolio AUSTIN, TX 2,141,9132.1m $123.5m $123.5m 1.16% Added +10.5k +10,510
23 SOUTHEASTERN ASSET MANAGEMENT INC/TN/ 4.95% of their portfolio MEMPHIS, TN 1,969,0692.0m $113.6m $113.6m 4.95% Reduced -119.8k -119,813
24 D. E. Shaw & Co., Inc. 0.15% of their portfolio New York, NY 1,881,6251.9m $108.5m $108.5m 0.15% Added +1.7m +1,664,461
25 Bank of New York Mellon Corp 0.02% of their portfolio NEW YORK, NY 1,786,5291.8m $103.0m $103.0m 0.02% Added +687 +687
26 CHARLES SCHWAB INVESTMENT MANAGEMENT INC 0.02% of their portfolio SAN FRANCISCO, CA 1,595,3411.6m $92.0m $92.0m 0.02% Added +33.1k +33,074
27 DEUTSCHE BANK AG\ 0.04% of their portfolio FRANKFURT AM MAIN, 2M 1,572,7661.6m $90.7m $90.7m 0.04% Reduced -59.7k -59,724
28 MAVERICK CAPITAL LTD 1.67% of their portfolio DALLAS, TX 1,526,7891.5m $88.1m $88.1m 1.67% New
29 GOLDMAN SACHS GROUP INC 0.02% of their portfolio NEW YORK, NY 1,407,2491.4m $81.2m $81.2m 0.02% Added +6.4k +6,447
30 Candlestick Capital Management LP 3.11% of their portfolio GREENWICH, CT 1,400,0001.4m $80.8m $80.8m 3.11% Added +200.0k +200,000
31 TD Asset Management Inc 0.07% of their portfolio Toronto, A6 1,391,1961.4m $80.2m $80.2m 0.07% Added +40.4k +40,406
32 BROWN ADVISORY INC 0.10% of their portfolio BALTIMORE, MD 1,379,6951.4m $79.6m $79.6m 0.10% Added +217.8k +217,767
33 Boston Partners 0.09% of their portfolio BOSTON, MA 1,290,4991.3m $74.4m $74.4m 0.09% Added +12.4k +12,420
34 California Public Employees Retirement System 0.05% of their portfolio Sacramento, CA 1,277,4271.3m $73.7m $73.7m 0.05% Reduced -252.0k -251,986
35 MARSHALL WACE, LLP 0.10% of their portfolio LONDON, X0 1,258,9291.3m $72.6m $72.6m 0.10% Reduced -607.7k -607,746
36 FIRST TRUST ADVISORS LP 0.07% of their portfolio Wheaton, IL 1,201,7931.2m $69.3m $69.3m 0.07% Reduced -104.1k -104,055
37 Aberdeen Group plc 0.13% of their portfolio EDINBURGH, X0 1,193,8291.2m $68.9m $68.9m 0.13% Added +89.4k +89,423
38 BANK OF AMERICA CORP /DE/ 0.01% of their portfolio CHARLOTTE, NC 1,192,6581.2m $68.8m $68.8m 0.01% Reduced -480.6k -480,571
39 FMR LLC 0.00% of their portfolio BOSTON, MA 1,120,1271.1m $64.6m $64.6m 0.00% Added +92.9k +92,936
40 Focus Partners Wealth 0.22% of their portfolio ST LOUIS, MO 1,114,2601.1m $64.3m $64.3m 0.22% New
41 Point72 Asset Management, L.P. 0.21% of their portfolio STAMFORD, CT 1,102,3671.1m $63.6m $63.6m 0.21% New
42 AMERIPRISE FINANCIAL INC 0.02% of their portfolio MINNEAPOLIS, MN 1,082,9291.1m $62.5m $62.5m 0.02% Added +321.8k +321,772
43 AQR CAPITAL MANAGEMENT LLC 0.10% of their portfolio Greenwich, CT 1,077,0181.1m $62.1m $62.1m 0.10% Added +609.0k +608,989
44 Ilex Capital Partners (UK) LLP 5.86% of their portfolio London, X0 991,712991.7k $57.2m $57.2m 5.86% New
45 BNP PARIBAS FINANCIAL MARKETS 0.06% of their portfolio PARIS, I0 927,229927.2k $53.5m $53.5m 0.06% Reduced -41.9k -41,867
46 BANK OF MONTREAL /CAN/ 0.02% of their portfolio TORONTO, A6 879,923879.9k $51.3m $51.3m 0.02% Reduced -9.7k -9,718
47 JANE STREET GROUP, LLC 0.05% of their portfolio NEW YORK, NY 835,670835.7k $48.2m $48.2m 0.05% Reduced -105.8k -105,831
48 Man Group plc 0.13% of their portfolio LONDON, X0 831,597831.6k $48.0m $48.0m 0.13% Added +186.5k +186,506
49 Cullen Capital Management, LLC 0.55% of their portfolio New York, NY 824,559824.6k $47.6m $47.6m 0.55% Reduced -63.1k -63,126
50 Sumitomo Mitsui Trust Group, Inc. 0.03% of their portfolio CHIYODA-KU, TOKYO, M0 821,390821.4k $47.4m $47.4m 0.03% Reduced -908 -908
51 Swiss National Bank 0.03% of their portfolio ZURICH, V8 809,300809.3k $46.7m $46.7m 0.03% Reduced -11.3k -11,300
52 CANADA PENSION PLAN INVESTMENT BOARD 0.05% of their portfolio TORONTO ONTARIO, A6 800,484800.5k $46.2m $46.2m 0.05% Added +470.9k +470,910
53 BARCLAYS PLC 0.02% of their portfolio LONDON, X0 766,980767.0k $44.2m $44.2m 0.02% Reduced -96.4k -96,367
54 Robeco Institutional Asset Management B.V. 0.09% of their portfolio ROTTERDAM, P7 716,736716.7k $41.3m $41.3m 0.09% Added +614.8k +614,782
55 HSBC HOLDINGS PLC 0.03% of their portfolio LONDON, X0 700,254700.3k $40.4m $40.4m 0.03% Reduced -119.8k -119,780
56 UBS Group AG 0.01% of their portfolio ZURICH, V8 676,862676.9k $39.0m $39.0m 0.01% Reduced -371.3k -371,327
57 Bridgewater Associates, LP 0.20% of their portfolio Westport, CT 674,278674.3k $38.9m $38.9m 0.20% Reduced -25.6k -25,550
58 ALLIANCEBERNSTEIN L.P. 0.01% of their portfolio NASHVILLE, TN 672,758672.8k $38.8m $38.8m 0.01% Added +268.3k +268,263
59 Nuveen Asset Management, LLC 0.01% of their portfolio CHICAGO, IL 656,544656.5k $37.9m $37.9m 0.01% Reduced -1.9k -1,926
60 Clearbridge Investments, LLC 0.03% of their portfolio NEW YORK, NY 653,693653.7k $37.7m $37.7m 0.03% Added +1.9k +1,857
61 ANCHOR CAPITAL ADVISORS LLC 1.04% of their portfolio Boston, MA 642,846642.8k $37.1m $37.1m 1.04% Reduced -27.2k -27,232
62 BNP PARIBAS ASSET MANAGEMENT Holding S.A. 0.09% of their portfolio Paris, I0 615,017615.0k $35.5m $35.5m 0.09% Added +21.8k +21,776
63 DekaBank Deutsche Girozentrale 0.06% of their portfolio FRANKFURT, 2M 610,870610.9k $35.2m $35.2m 0.06% Reduced -61.4k -61,365
64 APG Asset Management N.V. 0.06% of their portfolio Amsterdam, P7 608,661608.7k $32.8m $32.8m 0.06% Reduced -381.2k -381,158
65 AVIVA PLC 0.10% of their portfolio LONDON, X0 598,450598.5k $34.5m $34.5m 0.10% Added +92.6k +92,580
66 RHUMBLINE ADVISERS 0.03% of their portfolio BOSTON, MA 586,030586.0k $33.8m $33.8m 0.03% Added +23.8k +23,777
67 Schonfeld Strategic Advisors LLC 0.26% of their portfolio NEW YORK, NY 580,470580.5k $33.5m $33.5m 0.26% New
68 Russell Investments Group, Ltd. 0.05% of their portfolio Seattle, WA 574,992575.0k $33.2m $33.2m 0.05% Added +70.1k +70,086
69 ROYAL BANK OF CANADA 0.01% of their portfolio TORONTO, A6 573,962574.0k $33.1m $33.1m 0.01% Added +29.2k +29,174
70 WELLS FARGO & COMPANY/MN 0.01% of their portfolio SAN FRANCISCO, CA 555,984556.0k $32.1m $32.1m 0.01% Reduced -23.1k -23,054
71 RAYMOND JAMES & ASSOCIATES 0.02% of their portfolio ST PETERSBURG, FL 548,154548.2k $31.6m $31.6m 0.02% Added +13.8k +13,793
72 OLD REPUBLIC INTERNATIONAL CORP 1.26% of their portfolio CHICAGO, IL 537,500537.5k $31.0m $31.0m 1.26% Reduced -4.5k -4,500
73 Ensign Peak Advisors, Inc 0.06% of their portfolio SALT LAKE CITY, UT 526,777526.8k $30.4m $30.4m 0.06% Reduced -14.3k -14,291
74 National Pension Service 0.03% of their portfolio JEONJU-SI, JEOLLABUK-DO, M5 518,298518.3k $29.9m $29.9m 0.03% Added +18.6k +18,578
75 FRANKLIN RESOURCES INC 0.01% of their portfolio San Mateo, CA 508,806508.8k $29.3m $29.3m 0.01% Reduced -15.8k -15,840
76 Ancora Advisors LLC 0.73% of their portfolio Cleveland, OH 507,795507.8k $29.3m $29.3m 0.73% Added +526 +526
77 RENAISSANCE TECHNOLOGIES LLC 0.05% of their portfolio NEW YORK, NY 504,106504.1k $29.1m $29.1m 0.05% Reduced -714.5k -714,500
78 Qube Research & Technologies Ltd 0.05% of their portfolio LONDON, X0 500,955501.0k $28.9m $28.9m 0.05% Added +411.5k +411,455
79 VICTORY CAPITAL MANAGEMENT INC 0.03% of their portfolio San Antonio, TX 496,578496.6k $28.6m $28.6m 0.03% Reduced -58.3k -58,258
80 ARMISTICE CAPITAL, LLC 0.68% of their portfolio NEW YORK, NY 451,544451.5k $26.0m $26.0m 0.68% Reduced -126.4k -126,376
81 Mitsubishi UFJ Trust & Banking Corp 0.06% of their portfolio TOKYO, M0 448,852448.9k $25.9m $25.9m 0.06% Added +39.4k +39,425
82 Alyeska Investment Group, L.P. 0.15% of their portfolio CHICAGO, IL 446,951447.0k $25.8m $25.8m 0.15% Added +176.1k +176,052
83 OVERSEA-CHINESE BANKING Corp Ltd 0.77% of their portfolio SINGAPORE, U0 443,969444.0k $25.6m $25.6m 0.77% Added +13.5k +13,486
84 AXA S.A. 0.04% of their portfolio PARIS, I0 421,286421.3k $24.3m $24.3m 0.04% Added +160.9k +160,857
85 TEACHER RETIREMENT SYSTEM OF TEXAS 0.13% of their portfolio AUSTIN, TX 407,217407.2k $23.5m $23.5m 0.13% Added +370.2k +370,229
86 LSV ASSET MANAGEMENT 0.05% of their portfolio CHICAGO, IL 401,940401.9k $23.2m $23.2m 0.05% Reduced -23.4k -23,360
87 CALIFORNIA STATE TEACHERS RETIREMENT SYSTEM 0.03% of their portfolio WEST SACRAMENTO, CA 395,962396.0k $22.8m $22.8m 0.03% Added +1.0k +1,031
88 TWINBEECH CAPITAL LP 0.45% of their portfolio PURCHASE, NY 395,706395.7k $22.8m $22.8m 0.45% Reduced -226.9k -226,854
89 ExodusPoint Capital Management, LP 0.23% of their portfolio NEW YORK, NY 365,573365.6k $21.1m $21.1m 0.23% Added +361.9k +361,873
90 PRICE T ROWE ASSOCIATES INC /MD/ 0.00% of their portfolio BALTIMORE, MD 365,392365.4k $21.1m $21.1m 0.00% Added +8.6k +8,589
91 WORLDQUANT MILLENNIUM ADVISORS LLC 0.19% of their portfolio NEW YORK, NY 364,711364.7k $21.0m $21.0m 0.19% Added +142.6k +142,594
92 Mitsubishi UFJ Asset Management Co., Ltd. 0.03% of their portfolio TOKYO, M0 361,577361.6k $20.9m $20.9m 0.03% Reduced -3.7k -3,713
93 ACADIAN ASSET MANAGEMENT LLC 0.06% of their portfolio Boston, MA 359,737359.7k $20.7m $20.7m 0.06% Reduced -94.3k -94,327
94 STOREBRAND ASSET MANAGEMENT AS 0.07% of their portfolio LYSAKER, Q8 353,634353.6k $20.4m $20.4m 0.07% Reduced -10.6k -10,593
95 PRINCIPAL FINANCIAL GROUP INC 0.01% of their portfolio DES MOINES, IA 349,725349.7k $20.2m $20.2m 0.01% Reduced -7.2k -7,173
96 TWO SIGMA INVESTMENTS, LP 0.05% of their portfolio NEW YORK, NY 333,814333.8k $19.3m $19.3m 0.05% Reduced -1.4m -1,392,506
97 DDD Partners, LLC 2.21% of their portfolio BELLEVUE, WA 330,253330.3k $19.0m $19.0m 2.21% Added +1.5k +1,463
98 DZ BANK AG Deutsche Zentral Genossenschafts Bank, Frankfurt am Main 0.02% of their portfolio FRANKFURT AM MAIN, 2M 329,799329.8k $19.0m $19.0m 0.02% Added +5.5k +5,489
99 CANADA LIFE ASSURANCE Co 0.04% of their portfolio WINNIPEG, A2 324,465324.5k $18.7m $18.7m 0.04% Added +67.9k +67,945
100 CITIGROUP INC 0.02% of their portfolio NEW YORK, NY 319,380319.4k $18.4m $18.4m 0.02% Reduced -21.8k -21,792