Keurig Dr Pepper 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 809 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

• JAB (register side, strategic holder that has fully exited; recorded as a note, not a row). JAB BevCo B.V. (formerly Maple Holdings B.V., part of JAB Holding Company S.a.r.l. and affiliates) filed a Schedule 13D/A on 2024-10-30 reporting 214,443,879 shares beneficially owned (voting and dispositive power shared across JAB BevCo, Acorn Holdings B.V. and JAB Cofinance & Co S.C.A.), 15.8% of common stock based on 1,356,453,649 shares outstanding as of 2024-10-22. That is the most recent 13D/A on file; JAB filed no 13F (it is a private European holding company, so the 13D is the best available filed source for that snapshot). KDP's DEF 14A filed 2026-04-24 states directly: 'JAB BevCo B.V. ("JAB"), who was a more than 5% stockholder of KDP until May 5, 2025' and JAB does not appear in that proxy's 5%-beneficial-ownership table (record date 2026-04-20: FMR LLC 10.0%, Capital World Investors 7.3%, BlackRock 6.8%, Harris Associates LP 6.3%; no JAB row). Under Section 13(d), a holder that drops below 5% has no further amendment obligation, which is consistent with no 13D/A being filed between Oct 2024 and the exit date; JAB simply stopped being a 5% holder. Per the brief's rule, a fully exited strategic holder is recorded as a note with no register row, not a null row.
• JAB commercial relationships (historic): while JAB was a >5% stockholder, KDP had arm's length commercial arrangements (manufacturing, syrup/packaged-beverage sales, coffee/tea portion packs) with JAB-controlled Peet's Coffee & Tea, Caribou Coffee, Einstein Bros Bagels and Krispy Kreme. The 2026 proxy discloses these only as historical related-party context tied to the JAB stockholder period, ended by May 5, 2025.
• Separation: KDP announced on 2025-08-25 an intended separation of its beverage and coffee portfolios into two independent, publicly traded companies. As of the Q2 2026 10-Q (filed 2026-08-10, covering the period through June 30, 2026), the filing still refers to this as the 'intended' Separation, i.e. it had NOT closed as of the latest filing. No holding or register entry results from it; nothing to size yet.
• JDE Peet's acquisition (closed, but not to 100%): on 2026-01-15 KDP commenced a tender offer for all outstanding ordinary shares of JDE Peet's N.V. at EUR31.85/share. It substantially completed on 2026-04-01 (96.22% acquired), with additional shares acquired 2026-04-15 bringing the total to 97.75% of outstanding ordinary shares as of the Q2 2026 10-Q. The remaining 2.25% is being acquired through Dutch statutory buy-out proceedings, which had commenced but not concluded as of June 30, 2026 (estimated deferred consideration recorded in other current liabilities). JDE Peet's is now a controlled, consolidated subsidiary (renamed JDEP Coffee B.V. on 2026-05-01), not an equity-method holding, so per the brief it belongs here in notes rather than as a holdings-side row. Total consideration for the acquisition was reported as net cash of $17,430 million plus assumed liabilities.
• GHOST Lifestyle LLC: KDP acquired a 60% ownership interest effective 2024-12-31 for $999 million aggregate consideration and separately agreed to purchase the remaining 40% in 2028 (a mandatorily redeemable financial instrument for the non-controlling interest). GHOST is consolidated (majority/controlling interest, non-controlling interest on the balance sheet), not an equity-method holding, so it is excluded from the holdings side per the brief's wholly/majority-owned-subsidiary exclusion.
• Pod Manufacturing JV (Keurig JV, LP): completed 2026-03-30. KDP contributed its Coffee Production Assets and related Canadian coffee assets; JV Investors (funds/accounts managed by Apollo Capital Management, KKR and Goldman Sachs Asset Management, via the JV Investor Partner holding company) contributed $4 billion cash for a 49% interest. KDP retains the controlling 51% interest and appoints a majority of the JV Committee. This is KDP's own controlled venture with outside investors holding a minority in IT, not a KDP holding in another company, so it is not a holdings-side row; it is also not a register entry because the JV Investors hold an interest in the JV, not in KDP common stock.
• Vita Coco (The Vita Coco Company, Inc.): EXITED. KDP held Vita Coco as an equity security with a readily determinable fair value (mark-to-market through Other expense/income) and sold the entire investment in Q1 2025, recording a realized gain of $34 million (FY2025 10-K). No row; not held as of the latest filing.
• Bedford Systems, LLC (maker of Drinkworks, the alcohol-beverage joint venture with Anheuser-Busch InBev): EXITED/wound down. Bedford was an equity method investment through at least FY2023 (its board told KDP in December 2021 it was unable to obtain additional investors). The term does not appear anywhere in the FY2025 10-K or the Q2 2026 10-Q, and it has dropped out of the equity-method-investments table entirely (which by FY2023 already listed only Nutrabolt, Chobani, Tractor and Athletic Brewing). Treated as exited; no row.
• Electrolit, C4 (now folded into Nutrabolt), Bloom, evian, Polar Beverages seltzer water, La Colombe and other names in KDP's 'portfolio of partner brands' (FY2025 10-K) are distribution/licensing relationships, some with a contractual path for KDP to acquire the brand company in future, but KDP does not disclose a current sized equity percentage or value for Electrolit (or CAB Enterprises, its operator) specifically; it is not one of the four named equity-method investees. Per the brief, an unsized distribution/licensing relationship is a commercial contract, not an equity stake, and is not recorded as a holding.
• 'Other' equity method investments: the FY2025 10-K and Q2 2026 10-Q equity-method table carries a residual 'Other' line of $28 million (Dec 31, 2025) / $35 million (Jun 30, 2026) beyond the four named investees. This is a combined balance covering an unspecified number of smaller investments; per the brief's combined-balance rule, it cannot be attributed to any single investee and is not recorded as a holding for any of them.
• Register self-gate, computed from this file exactly as the chart computes it (no rolls_up_into rows present, so every row counts at full value): 11 register rows, total shares = 977,596,465, shares_outstanding = 1,360,826,038, giving 71.84% of the company across the top 11 holders alone. This is above the ~55% ceiling the brief flags as a signal to check for double counting or mixed instruments. No double counting was found: each row is either a single 13F-HR filer or an explicit family roll-up of sibling registrants with no parent/child overlap among the 11 rows, and every share figure is a common-stock count from that filer's own Q2 2026 (2026-06-30) 13F-HR information table, not a unit, an LP interest or a pre-split count. The elevated total appears to reflect genuinely very high institutional ownership at KDP: third-party aggregator data (stockanalysis.com / fintel.io, consulted for context only, not as the basis for any figure in this file) puts total institutional ownership at roughly 97-99% of the float as of mid-2026, so 72% concentrated in the top 11 managers alone, with the rest spread across a long tail of smaller institutional holders, is consistent rather than anomalous. Corroborated first-hand by the coordinator against a source independent of any aggregator, and the 97 to 99 per cent third-party figure cited above is NOT relied on: a reading near 100% is the known artifact of aggregators double counting shared voting and dispositive power. The measured figure from this project's own 13F-derived register (data/registers/KDP.json, period 31 Mar 2026, separate pipeline) is 1,118,444,180 shares, 82.19% of the same denominator, with its top eleven at 66.51%. The eleven rows here reach 71.84%, above that prior-quarter top eleven but well below total institutional ownership, which is consistent with what the filings show happening: FMR rose from 146,176,995 to 172,397,835, BlackRock from 125,509,512 to 143,527,185 and Capital Group from 121,352,387 to 143,523,456 over the quarter, while Vanguard (162,016,603 to 163,653,195), Harris Associates and State Street barely moved. That accumulation is itself explained by JAB's full exit of a 15.8% strategic block, which put a large parcel into institutional hands. Every row implies the same $32.73 per share on 30 Jun 2026, ruling out a values-in-thousands or units error.
• Register figures are all sourced to each manager's own fresh Q2 2026 (period 2026-06-30) 13F-HR, not to the project's own data/registers/KDP.json snapshot (dated 31-Mar-2026) and not to the DEF 14A's 5%-owner table (record date 2026-04-20, itself sourced to older 13G data). The DEF 14A table is materially stale versus the fresh 13F: e.g. it shows FMR LLC at 135,874,927 sh (10.0%) and BlackRock at 93,075,153 sh (6.8%) as of April 2026, versus 172,397,835 sh and 143,527,185 sh respectively from the June 30, 2026 13F-HRs used here.
• Market cap and shares outstanding for company.market_cap_usd are as of 2026-08-19 (stockanalysis.com, live quote), not a filed figure; company.shares_outstanding (1,360,826,038) is the 10-Q cover-page count as of 2026-08-06 (Q2 2026 10-Q filed 2026-08-10), which is the basis used for every pct_of_company calculation in the register.
• COORDINATOR CORRECTION, 19 Aug 2026: two holdings were added that this file originally recorded only in notes, GHOST Lifestyle LLC at 60% and the Keurig JV, LP pod-manufacturing venture at 51%. Both were excluded on the ground that KDP consolidates them. That is not the test this project uses: the brief excludes WHOLLY owned operating subsidiaries, and in both cases a third party holds a real minority (40% of GHOST, 49% of the JV). Consolidated is not the same as wholly owned, and six earlier files in this database carry exactly this shape as holdings at the company's own percentage. The original notes are retained above unchanged so the reasoning on both sides is visible. The JDE Peet's exclusion was NOT changed and remains correct: at 97.75% with the residual 2.25% in Dutch statutory buy-out proceedings, that is an acquisition in its final procedural step rather than a minority stake in another company.