KLA CORP

KLAC Q1 2026 institutional ownership is a $160.6B book across 2,005 holders -- the largest single-stock institutional book in this batch. The quarter is defined by extreme active-manager rotation: Wellington Management built from $438M to $2.12B (+$1.59B, +3,627%) -- the most aggressive build percentage-wise in the dataset. FMR LLC built from $254M to $648M (+$3.39B, +1,233%). Uhlmann Price Securities built from $373 to $1.22B (+$1.22B). Capital Research Global Investors built from $192M to $1.44B (+$1.20B, +625%). Capital International Investors reduced from $4.01B to $2.69B (-$2.62B) -- the largest seller, cutting nearly two-thirds of its position. Alkeon Capital reduced $199M. State Street $9.1B (share DECREASED but +$1.50B valueChange = price appreciation artifact). BlackRock $18.5B (+$3.50B from share INCREASED, #1 holder). Vanguard total passive ~$19.5B across three entities (NEW). Geode Capital $5.4B (+$1.14B). JPMorgan not in top 20. Goldman Sachs $2.7B (+$916M). Morgan Stanley $2.6B (+$504M). Invesco $2.4B (+$519M). MassFinancial Services $2.4B (-$328M). Northern Trust $2.3B (+$368M despite share DECREASED). Primecap Management $3.6B (-$95M). Bank of America $1.9B (+$108M despite share DECREASED). Janus Henderson $1.8B (-$184M). State Farm $2.1B (-$341M). UBS AM $1.6B (+$451M). Amundi $1.6B (+$642M). UBS Group not significant. New positions: Vanguard three. Sellers: Capital International -$2.62B, Alkeon -$199M, Primecap -$95M, MassFinancial -$328M, Janus Henderson -$184M, State Farm -$341M. Buyers: Wellington +$1.59B, FMR +$3.39B, Uhlmann Price +$1.22B, Capital Research +$1.20B, BlackRock +$3.50B, State Street +$1.50B (artifact), Geode +$1.14B, Goldman +$916M, Morgan Stanley +$504M, Invesco +$519M, Northern Trust +$368M, BofA +$108M, UBS AM +$451M, Amundi +$642M. The 75.50 whaleScore reflects AUM. Smart-money read: MIXED -- defining-rotation quarter. Wellington, FMR, Capital Research, Uhlmann Price building massive new positions signals HIGH conviction in semiconductor equipment; KLAC is a leading AOI (advanced optical inspection) and process control vendor for AI chip manufacturing. Capital International's -$2.62B exit is the largest single reduction in this batch and cannot be dismissed. The net-add cohort (Wellington/FMR/Capital Research/Uhlmann/BlackRock) dwarfs the sell cohort in dollar terms, but Capital International's size means their view carries weight. Read: cautiously bullish on KLAC -- extreme conviction from a subset of active managers front-running AI semiconductor capex cycle, but not unanimous. The Vanguard three-way split shows passive-core continuity at ~$19.5B.