Based on 1099 hedge funds · latest filing: 2026 Q1 · updated quarterly
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Selling streak — 1 quarter in a row
For 1 consecutive quarter, more hedge funds reduced or closed their KHC positions than added to them. Sustained institutional selling is a meaningful warning sign — these are professionals with deep research teams collectively deciding to exit.
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At the ownership peak (95% of max)
95% of all-time peak
1,099 hedge funds hold KHC right now — the highest count in 3.0 years. When ownership is this concentrated, any bad news can trigger a chain reaction: one big fund sells, others follow. This is a classic 'crowded trade' — high popularity doesn't equal safety.
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Outflows — 4% fewer funds vs a year ago
fund count last 6Q
41 fewer hedge funds hold KHC compared to a year ago (-4% decline). When institutions consistently reduce their exposure, it's worth exploring the underlying fundamental reasons driving them away.
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Slight buying edge — 53% buying
576 buying519 selling
Last quarter: 576 funds bought or added vs 519 that reduced or exited. It's nearly a 50/50 split — some institutions are convinced, others are taking profits. This mixed picture is normal near price highs.
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Fewer new buyers each quarter (-11 vs last Q)
new funds entering per quarter
Funds opening this position for the first time: 110 → 139 → 166 → 155. Each quarter fewer new institutions are entering. This usually means most funds that wanted in are already in — the stock is well-known but the pool of potential new buyers is shrinking.
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66% of holders stayed for 2+ years
■ 66% conviction (2yr+)
■ 16% medium
■ 18% new
729 out of 1,099 hedge funds have held KHC for over 2 years without selling. Long-term investors are generally harder to shake out during market stress, creating a stable ownership base that limits the risk of sudden capitulation.
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Growing discovery — still being found
127 → 110 → 139 → 166 → 155 new funds/Q
New funds entering each quarter: 110 → 139 → 166 → 155. A growing number of institutions are discovering KHC each quarter. The narrative is still spreading — leaving room for ongoing capital accumulation.
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Veteran-anchored — 70% veterans vs 20% newcomers
■ 70% veterans
■ 10% 1-2yr
■ 20% new
Entry-cohort mix of 1,152 holders: 806 (70%) are 2+ year veterans, 118 entered 1–2 years ago, and 228 (20%) joined within the past year. A veteran-weighted cap table skews toward institutional memory over fresh momentum.
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Elite ownership — 64% AUM from top-100 funds
64% from top-100 AUM funds
62 of 1090 holders are among the 100 largest funds by AUM, controlling 64% of total institutional value in KHC. When the biggest players dominate the cap table, it signifies deep institutional support — since mega-funds deploy the most rigorous due diligence and capital.
Exit risk score 3.2/10 — low institutional crowding. Ownership is below peak levels, holder base is relatively sticky, and buying momentum is positive.