SCHEDULE: W.K. Kellogg Foundation Trust Maintains 13% Stake in Kellanova
Beneficial Ownership Report
W.K. Kellogg Foundation Trust and Foundation disclose continued beneficial ownership of 13.0% of Kellanova's common stock as of September 30, 2025.
Summary
- W.K. Kellogg Foundation Trust and W.K. Kellogg Foundation collectively beneficially own 45,097,438 shares of Kellanova common stock.
- This ownership represents 13.0% of Kellanova's outstanding shares, based on 347,669,200 shares reported as outstanding on June 28, 2025.
- The filing is Amendment No. 49 to the original Schedule 13G filed in April 1979.
- The W.K. Kellogg Foundation is the sole beneficiary of the Trust.
- The Trust's individual trustees as of September 30, 2025, are Steven A. Cahillane, La June Montgomery Tabron, and Richard M. Tsoumas, with The Northern Trust Company serving as the sole corporate trustee.
Sentiment
Score: 5
Explanation: The filing is a factual disclosure of beneficial ownership and does not contain information that would inherently suggest a positive or negative sentiment regarding the company's performance or prospects.
Positives
- NA
Negatives
- NA
Risks
- NA
Future Outlook
NA
Industry Context
This filing is a routine disclosure of a significant, long-standing institutional ownership stake in Kellanova, a global food company. It does not provide specific industry trends or competitive analysis.
Corporate Governance
| Change Type | Description | Effective Date | Impact Assessment |
|---|---|---|---|
| Clarification of Voting and Trustee Powers | The W.K. Kellogg Foundation has the power to direct the voting of shares if a majority of the Trust's trustees (including the corporate trustee) cannot agree. The Foundation also has the power to approve successor trustees and remove trustees, subject to certain limitations. | NA | This clarifies the governance structure and ultimate control over the significant block of shares held by the Trust, indicating the Foundation's influential role in major decisions related to this stake. |
Stakeholder Impact
- Shareholders: The disclosure confirms a significant, stable institutional shareholder, which can be viewed positively for long-term stability but also means a large block of shares is controlled by a single entity with specific governance rights.
Key Dates
| Date | Description |
|---|---|
| 04/23/1979 | Original Schedule 13G filed by previous trustees of the W.K. Kellogg Foundation Trust. |
| 06/28/2025 | Date as of which Kellanova reported 347,669,200 shares outstanding in its Quarterly Report on Form 10-Q. |
| 07/31/2025 | Date Kellanova filed its Quarterly Report on Form 10-Q with the SEC. |
| 09/30/2025 | Date of event which requires the filing of this statement, representing the ownership snapshot date. |
| 11/07/2025 | Date the Amendment No. 49 Schedule 13G was signed and filed. |
Keywords
Kellanova, W.K. Kellogg Foundation Trust, W.K. Kellogg Foundation, Beneficial Ownership, Schedule 13G, Common Stock, Institutional Investor, Equity Stake
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