KAVL · Kaival Brands Innovations Group, Inc. · Shareholders & Ownership
Substantial doubt about the company's ability to continue as a going concern.
“We will need significant additional funds to satisfy our outstanding payables, fund our working capital, and fully implement our business plan. U.S. distribution of BIDI® Stick products has ceased. Our ability to continue as a going concern depends on royalty receipts under the PMI License Agreement and our ability to raise additional capital. FDA marketing-denial orders applicable to Bidi's products and the ITC patent proceeding involving those products may continue to affect royalty receipts. All of these factors raise substantial doubt regarding our ability to continue as a going concern.”View the 10-Q filed Sep 14, 2026
One customer — 21% of revenue (the year ended October 31, 2024)
“For the year then ended October 31, 2024, (i) 21% or $1,236,491 of the revenue from the sale of Products, solely consisting of the BIDI® Stick, was generated from QuikTrip Corporation”
One customer — 12% of revenue (the year ended October 31, 2024)
“(ii) 12% or $678,562 was generated from GPM Investments, LLC”
One customer — 11% of revenue (the year ended October 31, 2024)
“(iii) 11% or $655,583 was generated from FAVS Business, LLC”
One customer — 100% of receivables (as of October 31, 2024)
“QuikTrip Corporation with an outstanding balance of $205 accounted for 100% of the total accounts receivable from customers as of October 31, 2024.”
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Every disclosed holder of KAVL in one list: 13F institutions, Schedule 13D and 13G filers, insiders (Forms 3, 4 and 5) and registered funds, each from its own latest filing. Holders nest by CIK and SEC reporting links, never by name, and each is summed once.
Who Owns KAVL
13F quarter Sep 30, 2025| Holder group | Shares | % Out |
|---|---|---|
| Institutional (13F) | 139,125 | 0.71% |
| Insiders (Forms 3, 4, 5) | 8,187,687 | 41.91% |
| 13D/G-only blocks | 0 | 0.00% |
| Remaining | 11,208,590 | 57.38% |
| Registered funds (N-PORT, not summed) | 0 | 0.00% |
Shares outstanding: 19,535,402, the issuer's latest cover-page count restated onto today's split basis.
13D/G-only counts each filer's latest 13D or 13G that no 13F report of the listing contains, that names no 13F filer and that no counted insider files. Funds are never summed: their shares sit inside their advisers' 13F reports.
Holders of KAVL
| # | Holder | Shares | As of | Notes |
|---|---|---|---|---|
| 1 |
|
3,006,020 | ||
| 2 |
|
3,000,000 | ||
| 3 |
|
621,667 | ||
| 4 |
|
520,000 | ||
| 5 |
|
520,000 | ||
| 6 |
|
520,000 | ||
| 7 |
VANGUARD GROUP INC
13F
CIK 102909 · Registered investment adviser · Sep 30, 2025
|
51,436 | ||
| 8 |
GEODE CAPITAL MANAGEMENT, LLC
13F
CIK 1214717 · Registered investment adviser · Sep 30, 2025
|
42,905 | ||
| 9 |
TWO SIGMA INVESTMENTS, LP
13F
CIK 1179392 · Registered investment adviser · Sep 30, 2025
|
32,552 | ||
| 10 |
StoneX Group Inc.
13F
CIK 913760 · Unknown · Sep 30, 2025
|
10,011 | ||
| 11 |
CITIGROUP INC
13F
CIK 831001 · Bank · Sep 30, 2025
|
1,563 | ||
| 12 |
SBI Securities Co., Ltd.
13F
CIK 1851815 · Non-US institution · Sep 30, 2025
|
384 | ||
| 13 |
Larson Financial Group LLC
13F
CIK 1731061 · Registered investment adviser · Sep 30, 2025
|
185 | ||
| 14 |
BANK OF AMERICA CORP /DE/
13F
CIK 70858 · Bank · Sep 30, 2025
|
47 | ||
| 15 |
Federation des caisses Desjardins du Quebec
13F
CIK 2022297 · Unknown · Sep 30, 2025
|
22 | ||
| 16 |
MAI Capital Management
13F
CIK 1040197 · Registered investment adviser · Sep 30, 2025
|
20 |
Shares are restated onto today's split basis. Change compares each row with the same holder's previous filing in the same source; a dash means there is none to compare. Nested 13D/G, insider and fund rows are not summed, since a 13F report already holds them.