Kellanova

K • NYSE

Kellanova is a packaged foods company in the consumer defensive sector on NYSE, led by Steve Cahillane, with a market cap of $29.0B. As of Q3 2025, 85% of shares are held by 853 institutional investors, with KELLOGG W K FOUNDATION TRUST as the largest holder at 12.97%.

CEOSteve Cahillane

Market Cap$29.0B

Packaged Foods

Consumer Defensive

Employees23.0K

Websitekellanova.com

Country

United States of America

Overview

Overview of institutional ownership in K as of Q3 2025 with a market cap of $28.5B

All Institutions

Institutions: 853
Value Held: $24.2B
Shares Held: 294.7M
Avg Position: $28.3M
Median Position: $636.9K

Hedge Funds

Hedge Funds: 71
Value Held: $3.2B
Shares Held: 39.6M
Avg Position: $45.8M
Median Position: $16.6M

Ownership Breakdown

Institutional (non-HF)

73.37%

$20.9B

Hedge Funds

11.39%

$3.2B

Retail & Other

15.24%

$4.3B

Based on market cap of $28.5B as of Q3 2025. Institutional (non-HF) excludes hedge funds to avoid double counting.

Biggest Investors

Institutions with the largest positions in K as of Q3 2025

Institution	Key People	Position Value	Ownership	Owned Since	Total AUM (Long)
K KELLOGG W K FOUNDATION TRUST Institution	-	$3.7B 100.00% of portfolio	12.97% 45.1M shares	≤ Q2 2013 Held for 12y 5m+	$3.7B
VANGUARD GROUP INC Institution	Salim Ramji CEO	$2.7B 0.04% of portfolio	9.61% 33.4M shares	≤ Q2 2013 Held for 12y 5m+	$6.69T
B BlackRock, Inc. Institution	-	$2.5B 0.04% of portfolio	8.89% 30.9M shares	≤ Q2 2013 Held for 12y 5m+	$5.67T
KEYBANK NATIONAL ASSOCIATION/OH RIA/Wealth	Kevin Michael Mccann CCO	$1.6B 5.68% of portfolio	5.67% 19.7M shares	Q4 2012 Held for 12y 11m	$28.4B
STATE STREET CORP Institution	Ronald P. O'Hanley CEO	$1.1B 0.04% of portfolio	3.86% 13.4M shares	≤ Q2 2013 Held for 12y 5m+	$2.88T
Pentwater Capital Management LP Hedge Fund•Event Driven	Matthew Charles Halbower CEO	$820.2M 7.77% of portfolio	2.88% 10.0M shares	Q3 2024 Held for 1y 2m	$10.6B
UBS Group AG Institution	Sergio P. Ermotti CEO	$616.8M 0.12% of portfolio	2.16% 7.5M shares	Q4 2014 Held for 10y 11m	$511.54B
GEODE CAPITAL MANAGEMENT LLC ETF Provider	David Kenneth Lane CEO	$604.1M 0.04% of portfolio	2.13% 7.4M shares	≤ Q2 2013 Held for 12y 5m+	$1.57T
D D. E. Shaw & Co., Inc. Institution	-	$440.2M 0.38% of portfolio	1.54% 5.4M shares	≤ Q2 2013 Held for 12y 5m+	$115.81B
BANK OF AMERICA CORP /DE/ Institution	Brian T. Moynihan CEO	$385.1M 0.03% of portfolio	1.35% 4.7M shares	≤ Q2 2013 Held for 12y 5m+	$1.33T

Net Capital Flow

Institutional buying and selling activity for K in Q3 2025

Traded: +$770.9M
Buyers: 360
Sellers: 412
Total Bought: +$2.3B
Total Sold: −$1.5B
Avg Position: $25.5M

Biggest Buyers

Institution	Net Bought	Current Position
D D. E. Shaw & Co., Inc. Institution	+$362.8M +4.4M shares	$440.2M 5.4M shares
FARALLON CAPITAL MANAGEMENT LLC Hedge Fund•Multi-Strategy	+$323.5M +3.9M shares	$323.5M 3.9M shares
HBK INVESTMENTS L P Hedge Fund•Multi-Strategy	+$164.0M +2.0M shares	$164.0M 2.0M shares
L LMR Partners LLP Institution	+$141.8M +1.7M shares	$220.7M 2.7M shares
A Amundi Institution	+$132.3M +1.6M shares	$346.2M 4.2M shares
UBS Group AG Institution	+$128.8M +1.6M shares	$616.8M 7.5M shares
Pentwater Capital Management LP Hedge Fund•Event Driven	+$89.4M +1.1M shares	$820.2M 10.0M shares
MILLENNIUM MANAGEMENT LLC Hedge Fund•Multi-Strategy	+$77.6M +946.6K shares	$252.4M 3.1M shares
Hudson Bay Capital Management LP Hedge Fund•Multi-Strategy	+$73.3M +894.1K shares	$100.0M 1.2M shares
BANK OF AMERICA CORP /DE/ Institution	+$52.5M +639.7K shares	$385.1M 4.7M shares

Biggest Sellers

Institution	Net Sold	Current Position
GOLDMAN SACHS GROUP INC Institution	−$100.9M −1.2M shares	$184.0M 2.2M shares
K KELLOGG W K FOUNDATION TRUST Institution	−$75.2M −916.7K shares	$3.7B 45.1M shares
UBS GLOBAL ASSET MANAGEMENT AMERICAS INC Long Only Manager	−$71.4M −870.2K shares	$210.9M 2.6M shares
RENAISSANCE TECHNOLOGIES LLC Hedge Fund•Quant	−$63.4M −773.4K shares	$107.4M 1.3M shares
S STATE FARM MUTUAL AUTOMOBILE INSURANCE CO Institution	−$51.5M −628.2K shares	$146.7M 1.8M shares
R ROYAL BANK OF CANADA Institution	−$48.4M −590.0K shares	$78.0M 950.4K shares
CAPSTONE INVESTMENT ADVISORS, LLC Hedge Fund•Multi-Strategy	−$46.9M −571.3K shares	$22.9M 279.3K shares
ARROWSTREET CAPITAL LIMITED PARTNERSHIP Hedge Fund•Quant	−$38.0M −463.1K shares	$39.8M 484.7K shares
A ADAGE CAPITAL PARTNERS GP LLC Institution	−$37.7M −460.1K shares	$86.4M 1.1M shares
TWO SIGMA INVESTMENTS LLC Hedge Fund•Multi-Strategy	−$36.1M −440.6K shares	$4.8M 58.0K shares

Entry and Exit Activity

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

New Positions: 31
New Value: $357.9M
Exited Positions: 94
Exited Value: $214.8M

New Positions

Institution	Position Value
FARALLON CAPITAL MANAGEMENT LLC Hedge Fund•Multi-Strategy	$323.5M 3.9M shares
O ODDO BHF ASSET MANAGEMENT SAS Institution	$24.9M 303.6K shares
D Delta Global Management LP Hedge Fund•Market Neutral	$2.6M 31.6K shares
JT Stratford LLC RIA/Wealth	$2.3M 28.0K shares
SummitTX Capital, L.P. Hedge Fund•Multi-Strategy	$1.2M 15.0K shares
P Polymer Capital Management LLC Hedge Fund•Multi-Strategy	$588.1K 7.2K shares
F FIFTH LANE CAPITAL, LP Institution	$574.1K 7.0K shares
L Legacy Trust Institution	$450.1K 5.5K shares
Catalytic Wealth RIA, LLC RIA/Wealth	$400.3K 4.9K shares
S Shay Capital LLC Institution	$312.7K 3.8K shares

Exited Positions

Institution	Previous Position
C Capula Management Ltd Institution	$32.6M 410.0K shares
Slotnik Capital, LLC Hedge Fund•Event Driven	$25.5M 321.1K shares
S SOROS FUND MANAGEMENT LLC Institution	$22.3M 280.1K shares
DSC Meridian Capital LP Hedge Fund•Distressed	$21.1M 265.5K shares
Decagon Asset Management LLP Hedge Fund•Event Driven	$19.2M 241.4K shares
Caption Management, LLC Hedge Fund•Long/Short	$15.0M 188.3K shares
H Halcyon Management Partners LP Institution	$10.5M 132.2K shares
Weiss Asset Management LP Hedge Fund•Multi-Strategy	$10.1M 126.9K shares
CenterBook Partners LP Hedge Fund•Market Neutral	$6.9M 87.2K shares
NINE MASTS CAPITAL Ltd Institution	$4.5M 56.8K shares

Options Activity

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

Call Positions: 21
Call Value: $188.6M
Put Positions: 39
Put Value: $710.9M

Call Positions

Institution	Position Value
SUSQUEHANNA INTERNATIONAL GROUP, LLP Private Equity	$51.1M 6.2K contracts
MILLENNIUM MANAGEMENT LLC Hedge Fund•Multi-Strategy	$31.8M 3.9K contracts
P SCHOENFELD ASSET MANAGEMENT LP Hedge Fund•Event Driven	$17.0M 2.1K contracts
L LMR Partners LLP Institution	$16.4M 2.0K contracts
Kintayl Capital LP Hedge Fund•Long/Short	$16.4M 2.0K contracts
N NOMURA HOLDINGS INC Institution	$16.4M 2.0K contracts
Verition Fund Management LLC Hedge Fund•Multi-Strategy	$7.2M 875.0 contracts
E EQUITEC PROPRIETARY MARKETS, LLC Institution	$6.8M 833.0 contracts
CITADEL ADVISORS LLC Hedge Fund•Multi-Strategy	$4.9M 601.0 contracts
GOLDMAN SACHS GROUP INC Institution	$4.5M 550.0 contracts

Put Positions

Institution	Position Value
Caption Management, LLC Hedge Fund•Long/Short	$96.5M 11.8K contracts
MILLENNIUM MANAGEMENT LLC Hedge Fund•Multi-Strategy	$91.4M 11.1K contracts
J JANE STREET GROUP, LLC Institution	$67.9M 8.3K contracts
SUSQUEHANNA INTERNATIONAL GROUP, LLP Private Equity	$53.7M 6.5K contracts
BALYASNY ASSET MANAGEMENT LLC Hedge Fund•Multi-Strategy	$51.2M 6.2K contracts
C Concentric Capital Strategies, LP Hedge Fund•Long/Short	$45.3M 5.5K contracts
L LMR Partners LLP Institution	$45.1M 5.5K contracts
Centiva Capital, LP Hedge Fund•Multi-Strategy	$41.0M 5.0K contracts
Hudson Bay Capital Management LP Hedge Fund•Multi-Strategy	$36.9M 4.5K contracts
C CAXTON ASSOCIATES LLP Institution	$28.7M 3.5K contracts

Most Committed Institutions

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

Institution	Key People	Portfolio Weight	Ownership	Owned Since	Total AUM (Long)
K KELLOGG W K FOUNDATION TRUST Institution	-	100.00% $3.7B	12.97% 45.1M shares	≤ Q2 2013 Held for 12y 5m+	$3.7B
S Samson Rock Capital LLP Institution	-	61.15% $23.0M	0.08% 280.0K shares	Q4 2024 Held for 11 months	$37.6M
S SYQUANT CAPITAL SAS Institution	-	57.75% $124.1M	0.44% 1.5M shares	Q4 2024 Held for 11 months	$214.9M
PSquared Asset Management AG Private Equity	-	33.96% $42.8M	0.15% 521.5K shares	Q1 2025 Held for 8 months	$126.0M
E EQUITEC PROPRIETARY MARKETS, LLC Institution	-	25.35% $4.2M	0.01% 51.8K shares	Q3 2024 Held for 1y 2m	$16.8M
Twin Securities, Inc. Hedge Fund•Event Driven	David Joel Simon President	22.88% $45.4M	0.16% 553.7K shares	Q3 2024 Held for 1y 2m	$198.5M
Boussard & Gavaudan Investment Management LLP Hedge Fund•Multi-Strategy	Emmanuel Gavaudan CEO	16.71% $24.4M	0.09% 298.2K shares	Q2 2025 Held for 5 months	$145.9M
S Sand Grove Capital Management LLP Hedge Fund•Event Driven	Daniel Caplan CEO	13.06% $26.7M	0.09% 325.9K shares	Q3 2024 Held for 1y 2m	$204.7M
P SCHOENFELD ASSET MANAGEMENT LP Hedge Fund•Event Driven	Peter Michael Schoenfeld CEO	12.41% $43.7M	0.15% 532.4K shares	Q3 2024 Held for 1y 2m	$351.9M
H HARVEST MANAGEMENT LLC Hedge Fund•Event Driven	Marjorie Gochberg Kellner Managing Partner	8.15% $16.6M	0.06% 202.0K shares	Q3 2024 Held for 1y 2m	$203.3M

Hedge Fund Spotlight

Discover hedge funds investing in K

Greenland Capital Management LP

Hedge Fund • Multi-Strategy

Portfolio ManagerMichael J Englander

Portfolio Value: $641.9M
Positions: 218
Last Reported: Q3 2025

Sector Allocation

Position in Kellanova

Market Value: $11.9M
Shares Held: 145.4K
Portfolio Weight: 1.86%
Owned Since: 2024-Q3

Top Holding	Sector	Market Value	Weight
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