CELSIUS HLDGS INC

Celsius Holdings Inc. (CELH, CUSIP 15118V207) entered Q1 2026 with $6.2B of institutional 13F value across 551 holders — a holder breadth appropriate to a functional-beverage and energy-drink company whose zero-sugar, caffeine-and-electrolyte positioning has captured a durable slice of the $80B+ global energy-drink market through fitness-center, convenience-store, and mass-market retail distribution. The defining Q1 signal is ten new positions opening across an already-meaningful holder base: this represents a genuine coverage-expansion event at the consumer-discretionary manager tier, where specialized consumer-staples and beverage-focused managers are building CELH positions as the brand crosses from niche-fitness to mainstream-energy-drink visibility. With PepsiCo's distribution partnership (signed 2022, accelerating post-2024) providing national-scale reach and shelf placement that Celsius could not have achieved as an independent distributor, the institutional thesis links CELH's growth trajectory to PepsiCo's Gatorade-and-Mountain-Dew-channel displacement rather than to independent organic growth alone. For smart-money trackers, CELH's Q1 holder expansion is a consumer-sector signal most usefully compared against the broader non-alcoholic-beverage and functional-foods allocation patterns — the ten-new-position event is the actionable read.