Kenvue Inc.

The full register, from 13F filings

The Register tab above is hand research: a dozen holders, each traced to the filing it came from. This asks the same question of the whole market for the quarter ended 31-mar-2026, where 1,000 managers reported a position. Broad where the research is deep, and shallow in the ways a 13F always is.

Built from 13F filings, which report US listed, long, US custodied positions only. A register from this source is a floor rather than a level: a holder's true position can be far larger, as BlackRock's ASML stake shows at 1.28m shares in a 13F against 26.3m in its 13G/A. Holdings held through derivatives, outside US custody, or below a manager's reporting obligation do not appear. Where a holder is marked as a family, its total sums several separate filing entities and describes something no single filing describes; the constituent entities and their share counts are listed so the total can be checked. That roll-up can legitimately exceed the family's own Schedule 13G, because a 13G is filed by one legal entity: Vanguard reports Alphabet through ten advisory entities, and The Vanguard Group Inc itself reported zero after its January 2026 disaggregation.

What a reader needs to know to read these numbers

• WHAT J&J HOLDS TODAY: NOTHING, CONFIRMED FROM KENVUE'S OWN FILINGS. Kenvue's FY2025 10-K and Q2 2026 10-Q both state, in identical language: 'In May 2024, J&J completed an additional exchange offer (the "Debt-for-Equity Exchange") through which J&J exchanged indebtedness of J&J for shares of Kenvue common stock owned by J&J. Following the completion of the Debt-for-Equity Exchange, J&J did not own any shares of Kenvue common stock.' The full mechanism, entirely from Kenvue's own filings: (1) May 2023, Kenvue IPO on NYSE, J&J retained the large majority of shares; (2) August 2023, J&J's Exchange Offer completed, under which J&J shareholders exchanged J&J stock for J&J's Kenvue shares, substantially completing the Separation; (3) 17 May 2024, J&J's Debt-for-Equity Exchange completed, in which J&J exchanged its own indebtedness for the remaining Kenvue shares J&J still held, after which J&J held zero Kenvue shares. Kenvue's own 2026 proxy's 5%-holder table and full beneficial-ownership table list only Vanguard, BlackRock and State Street as 5% holders and mention Johnson & Johnson only as a past employer of two independent directors (Michael E. Sneed, Melanie L. Healey), never as a shareholder. THIS CORROBORATES data/research/johnson-johnson.json, whose silence on Kenvue (no holdings row, no register row, no note or unknown mentioning Kenvue) is therefore correct rather than an unresearched gap: J&J's own Q2 2026 10-Q, 13F-HR and 2026 proxy (used to build that file) evidently never carried a Kenvue position either, consistent with a full exit completed 17 May 2024, more than two years before either company's most recent filings.
• FILING HISTORY UNDER THIS CIK (0001944048), from the EDGAR submissions feed. Registration: S-1 filed 4 Jan 2023 (IPO) and a second S-1 filed 13 May 2024 (relating to the Debt-for-Equity Exchange). Periodic reports: three 10-Ks (FY2023 filed 1 Mar 2024, FY2024 filed 24 Feb 2025, FY2025 filed 20 Feb 2026, the latter used throughout this file) and eleven 10-Qs from Q2 2023 through Q2 2026 (period 28 Jun 2026, filed 6 Aug 2026, used for the cover-page share count). Three DEF 14A proxies exist (2024, 2025, 2026 annual meetings); the 2026 proxy (filed 8 Apr 2026, ownership as of 23 Mar 2026) is used for the entire insider side of the register here. Numerous Schedule 13G and 13G/A filings exist from Vanguard, BlackRock, State Street, FMR/Fidelity and T. Rowe Price dated 2024, none from J&J after the Debt-for-Equity Exchange. No SC 13D has been filed against this CIK.
• PENDING TRANSACTION WITH KIMBERLY-CLARK. On 2 Nov 2025 Kenvue entered an Agreement and Plan of Merger to combine with Kimberly-Clark Corporation; shareholders of each company approved it in January 2026 and the companies expect closing in the second half of 2026, subject to regulatory approvals (per the FY2025 10-K and the 2026 proxy). This is the most likely explanation for the register's large merger-arbitrage-shaped names in the pre-built data/registers/KVUE.json snapshot (Millennium Management, Balyasny, D.E. Shaw, HBK, Pentwater, Massachusetts Financial Services) that were not individually re-verified here given the time budget; none of them is large enough or strategic enough (activist board seat, sovereign, or founder) to change the register's shape versus what is captured above, but a reader should expect elevated arb-fund turnover in this register relative to a normal S&P 500 constituent.
• SHARE BASIS. company.shares_outstanding (1,920,773,467) is the 10-Q cover-page dei:EntityCommonStockSharesOutstanding figure, as of 31 Jul 2026 (a few weeks after the 28 Jun 2026 quarter end), taken from the filing's own XBRL cover-page report (R1.htm), not from the balance sheet or Note 11 (which both give 1,920,241,102 as of 28 Jun 2026 itself, essentially the same number, off by 532,365 shares from routine share issuance in July). No stock split or reverse split has occurred since the Separation; the only 'stock split' language in the 10-K refers to a pre-IPO subscription-agreement retrospective presentation, not a real corporate action. The proxy's own denominator (1,919,916,307, as of the 23 Mar 2026 record date) is used only for the two proxy-sourced register rows (Starboard/Smith and the officers group), left as the proxy's own as-filed ratio rather than restated, consistent with how the institutional rows use the 31 Jul 2026 count; the two dates differ by about 0.04%, immaterial.
• HOLDINGS SIDE IS EMPTY, SEARCHED ACROSS BOTH THE 10-K AND THE Q2 2026 10-Q. Neither filing contains the terms 'equity method', 'joint venture' (except in forward-looking risk-factor boilerplate about the Kimberly-Clark transaction possibly disrupting third-party joint venture relationships, not a Kenvue equity stake), 'non-marketable', or 'noncontrolling interest'. Both filings state explicitly, in the Liquidity and Capital Resources section: 'We did not have during the periods presented, and we do not currently have, any off-balance sheet arrangements... or any relationships with unconsolidated entities that have or are reasonably likely to have a material current or future effect on our financial condition.' Exhibit 21 to the FY2025 10-K (the subsidiaries list) lists over 140 subsidiaries by jurisdiction with no ownership-percentage column at all (unlike Qnity, Quest Diagnostics or PPG's Exhibit 21s), consistent with every listed entity being wholly owned; no joint venture or minority-owned entity appears anywhere in it. Kenvue is a brand-and-manufacturing consumer-health company with no venture-investing arm analogous to J&J's JJDC, so an empty holdings side here is a genuinely sourced finding, not a gap.
• Register self-gate, computed the way the chart computes it (a member counts at full value and only reduces the container it rolls into; an aggregate with no members would count at full value too, but this one has exactly one member). members = {'All Directors and Current Executive Officers as a Group (24 persons)': 27,307,632 (Starboard Value LP / Jeffrey C. Smith)}. The officers group's own raw total (30,471,350) is reduced to its residual (30,471,350 - 27,307,632 = 3,163,718); every other row counts at full value. Total = 238,980,083 (Vanguard family) + 157,051,418 (FMR) + 150,825,694 (BlackRock) + 121,619,054 (State Street) + 52,021,320 (Geode) + 27,307,632 (Starboard, full value as a member) + 14,830,845 (T. Rowe Price Associates) + 3,163,718 (officers-group residual) = 765,799,764 shares against 1,920,773,467 shares outstanding = 39.87 percent. This sits within the expected 25 to 45 percent band, toward its upper end, consistent with a widely held large-cap consumer company plus one sizeable activist stake.