Themes / Cluster
Inactive · established relationshipLatest completed snapshot · 11:33 ET

MARKET-DISCOVERED GROUP

Food & Beverage

THE TRADER READMKC dominates an otherwise mixed group path

3 of 4 measured session-normalized paths align to the upside across 2.1 effective names. SJM, FIZZ are also moving with filing-linked members. Capital-flow agreement is 22%, so the basket is not yet clean. No verified headline preceded the measured move.

Price breadth1 up · 2 down+0.2% session-normalized median path
Capital-flow alignment22%Price breadth is not yet confirmed by flow
Activity nowCalmActivity score 0/100 · lift 0.8×
Evidence depth5 support daysLow sample—context, not a validated playbook
EVIDENCE CLOCK

What happened, in timestamp order

4 timed events · 11:40–10:55 ET
TIMING READNo verified timestamped headline was found within 24 hours of the first measured price move in the available common-bar window. The move currently reads as market-led or unexplained.
  1. 5-minute inferenceKDP registered the first material upside path

    +0.60% session path at the threshold · KDP

  2. 5-minute inferencePEP registered a material upside path

    +0.42% session path at the threshold · PEP

  3. 5-minute inferenceINGR registered a material upside path

    +0.36% session path at the threshold · INGR

  4. 5-minute inferenceMKC registered a material downside path

    -1.05% session path at the threshold · MKC

2 earlier filing context receipts

THU, NOV 6INGR filing documented shared operating contextcredit / rates affecting interest expense · date precision only

MON, FEB 23KDP filing documented shared operating contextcredit / rates affecting interest expense · date precision only

Headline times and retained activity confirmations are point-in-time evidence. Price order is inferred from aligned 5-minute bars. Filing evidence has date precision only and is context, not an intraday catalyst claim.
THEME CONSTRUCTION

Broad move or one-stock disguise?

Session-normalized 5m paths

Observed movement is concentrated across 2.1 effective names. MKC represents 64.8% of absolute path energy; 3 of 4 members align with the up relative path.

ConstructionConcentrated64.8% from the largest path
Effective names2.1 / 4Movement diversity after concentration
Direction breadth3/4 alignedupside relative path · 1 counter-moving
Largest moverMKC 64.8%86.7% from the top two paths
MKC64.8%Dominant mover · path -2.25% · basket -0.56pp
KDP21.9%Aligned contributor · path +0.76% · basket +0.19pp
PEP7.8%Aligned contributor · path +0.27% · basket +0.07pp
INGR5.6%Aligned contributor · path +0.19% · basket +0.05pp
Top six names by movement share are shown. Movement share measures absolute 5-minute path energy; signed basket contribution is equal-weight. Neither is a portfolio weight or causal attribution.

01 · WHAT IS HAPPENING

The move, the flow and who is driving it

Price breadth, unusual activity and signed capital flow are separate observations
HOW THE PRICE MOVE SPREAD

Observed session sequence

5-minute bars · inferred
  1. KDP moved higher firstFirst member to clear the material path threshold · path +0.60%
  2. PEP registered a material higher path110m after the first price move · path +0.42%
  3. INGR registered a material higher path210m after the first price move · path +0.36%
  4. MKC registered a material lower path1310m after the first price move · path -1.05%

Sequence inferred from aligned 5-minute price paths; it is not a causal ordering.

RELATIVE CO-MOVEMENT

How the members are behaving together

Session-normalized
Sep 29 · 11:40 ETMove visible 15:20 ETSep 30 · 10:55 ET
Group median +0.23%Strongest relative path KDPWeakest relative path MKC

Observed member paths normalized to the session. The dashed marker shows when the median move first cleared a material threshold; shading marks the latest 20% of the observed window.

02 · WHY IT MATTERS

Why now and where the move could travel

Context and lead/lag links are evidence, not proof of causation or a forecast
WHY NOW

Verified recent context

0 items

No verified recent catalyst is attached to this move. The relationship may be market-led rather than news-led.

WHY THIS GROUP EXISTS

Shared filing context

4/4 members covered

Moderate filing support: the strongest shared 10-Q/K outlook is operating setup (near-term outlook) across KDP, MKC, PEP.

credit / rates affecting interest expense

“Interest expense, net increased $19 million, or 2.6%, to $754 million for the year ended December 31, 2025 compared to $735 million for the prior year, primarily driven by increased debt and higher financing costs (12 percentage points), which were mostly offset by a favorable year-over-year change in unrealized mark-to-market activity (10 percentage points).”

KDP 10-K · 2026-02-24
restructuring

“Impairment of intangible assets decreased $334 million to $78 million, driven by the favorable comparison of non-cash impairment charges for intangible brand assets compared to the prior year.”

KDP 10-K · 2026-02-24
input costs affecting expense

“This performance was driven by the gross profit impact of net sales growth (24 percentage points), which was partially offset by a net unfavorable impact from changes in ingredients, materials, and productivity, inclusive of tariffs (7 percentage points), increased transportation and warehousing expenses (3 percentage points), and higher labor costs (2 percentage points).”

KDP 10-Q · 2026-08-10
CONFIRMATION NETWORK

Outsiders and cross-asset links

2 outsiders confirming

No qualified cross-asset lead/lag link is available for this group.

Filing-linked outsiders test whether the move is spreading beyond the established cohort.

SJMMoving with group

KDP · text peer

FIZZMoving with group

KDP · text peer

WESTNot confirming

KDP · text peer

SXTNot confirming

INGR · text peer

03 · WHO IS IN IT

Member participation

Unusual activity and daily price direction are shown separately
KDPMKCPEPINGR

4/4 active2 rising · 2 falling

MemberUnusual activityToday's moveRead now
KDPKeurig Dr Pepper Inc.
Most unusual · 100/100
-1.4%
Aligned price + flowActive in 0% of observed group sessions
MKCMcCormick & Company, Incorporated
Elevated · 64/100
-0.2%
Dominant path moverActive in 0% of observed group sessions
PEPPepsiCo, Inc.
Elevated · 63/100
+0.1%
Aligned price + flowActive in 0% of observed group sessions
INGRIngredion Incorporated
Elevated · 19/100
+0.0%
Aligned price + flowActive in 0% of observed group sessions
View exact member values
TICKERCompanyRole nowTodayObserved historyTrader interpretation
KDPKeurig Dr Pepper Inc.Most unusual-1.4%0% of 0 sessionsMost unusual activity in this snapshot; performance direction may differ.
MKCMcCormick & Company, IncorporatedParticipating-0.2%0% of 0 sessionsPrice participation with distributing signed flow.
PEPPepsiCo, Inc.Participating+0.1%0% of 0 sessionsPrice participation with distributing signed flow.
INGRIngredion IncorporatedParticipating+0.0%0% of 0 sessionsPrice participation with accumulating signed flow.

04 · HAS THIS HAPPENED BEFORE

Identity history versus measured outcomes

Structural recurrence is not the same as a validated trading outcome
POINT-IN-TIME LIVE OUTCOMES

Live outcome ledger collecting

0/0 events completed

No completed point-in-time outcome is available yet. New live confirmations are now retained with their exact observation timestamp; statistics appear only after the corresponding candles complete.

Only point-in-time live watcher observations and conservative same-day EOD observations are included. Later backfills and replay runs are excluded.
Low structural sample

Only 0 completed episodes across 0 active sessions; treat history as context, not a validated playbook. These episode counts describe recurrence; the outcome ledger above is the only forward-performance evidence.

Structural support5 daysHow often the cohort identity was observed
Completed episodes0Separate periods of broad group activity
Active sessions0Completed session observations, not trades
2026-09-294 names in the durable cohort
2026-09-283 names in the durable cohort
2026-09-2411 names in the durable cohort
2026-09-234 names in the durable cohort
2026-09-216 names in the durable cohort
MEMBER CONSISTENCY IN OBSERVED ACTIVE SESSIONS
INGR0% · 0 episodes
KDP0% · 0 episodes
MKC0% · 0 episodes
PEP0% · 0 episodes