The Hershey Company: which funds bought and sold

Institutions that bought and sold The Hershey shares in Q2 2026, from the holdings they reported to the SEC on Form 13F for March 31, 2026 and June 30, 2026.

Between March 31, 2026 and June 30, 2026, 641 institutions that filed 13F reports for both quarters added to or opened positions in The Hershey, and 685 cut or closed them. Together they added a net 4.9M shares, +3.9% on what they held at the start of the quarter. Active managers and hedge funds on our list were net buyers of 346K shares (+1.9%); index fund managers were net buyers of 938K shares (+1.9%). 105 opened a new position and 177 sold out entirely.

Bought, Q2 2026 641 institutions, 105 of them new holders Sold, Q2 2026 685 institutions, 177 of them sold out

Net change, all compared +4.9M shares (+3.9%)

Net change, active managers +346K shares (+1.9%), 34 bought, 41 sold

Buyers versus sellers

institutions compared, 1,563

641 bought 237 685 sold

Active managers and hedge funds 34 bought · 41 sold · +346K

Index fund managers 8 bought · 4 sold · +938K

Other institutions 599 bought · 640 sold · +3.6M

Biggest buyers

by change in shares held

Biggest buyers
Institution	Change in shares	Shares June 30, 2026	Value
GQG Partners LLC Active manager	+2.8M New position	2.8M	$485M
Morgan Stanley	+1.7M +43.2%	5.6M	$991M
Federated Hermes, Inc. Active manager	+989K +68003.0%	990K	$174M
Nordea Investment Management AB	+809K +370.7%	1.0M	$183M
Capital World Investors Active manager	+750K +27.3%	3.5M	$614M
Assenagon Asset Management S.A.	+471K +8999.9%	477K	$83.6M
Charles Schwab Investment Management Inc Index funds	+462K +10.7%	4.8M	$835M
Check Capital Management Inc	+424K +220.2%	616K	$108M
Raymond James Financial Inc	+391K +70.5%	947K	$166M
Blackrock, Inc. Index funds	+351K +2.7%	13.1M	$2.3B
Invesco Ltd.	+320K +18.8%	2.0M	$355M
Capital Research Global Investors Active manager	+317K +13.3%	2.7M	$474M
Nfj Investment Group, LLC	+299K +176.6%	469K	$82.3M
Robeco Institutional Asset Management B.V.	+264K +492.1%	317K	$55.7M
Pfa Pension, Forsikringsaktieselskab	+228K +252.5%	318K	$55.8M
Franklin Resources Inc Active manager	+227K +72.4%	540K	$94.7M
BNP Paribas Asset Management Holding S.A.	+214K +349.2%	275K	$48.2M
Amundi	+187K +21.9%	1.0M	$183M
Bank Of America Corp	+171K +12.3%	1.6M	$275M
Jennison Associates LLC Active manager	+153K +3970.2%	157K	$27.5M

Biggest buyers, active managers and hedge funds
Institution	Change in shares	Shares June 30, 2026	Value
GQG Partners LLC Active manager	+2.8M New position	2.8M	$485M
Federated Hermes, Inc. Active manager	+989K +68003.0%	990K	$174M
Capital World Investors Active manager	+750K +27.3%	3.5M	$614M
Capital Research Global Investors Active manager	+317K +13.3%	2.7M	$474M
Franklin Resources Inc Active manager	+227K +72.4%	540K	$94.7M
Jennison Associates LLC Active manager	+153K +3970.2%	157K	$27.5M
Jupiter Asset Management Ltd Active manager	+150K New position	150K	$26.4M
Lighthouse Investment Partners, LLC Hedge fund	+103K +2232.6%	108K	$18.9M
Los Angeles Capital Management LLC Active manager	+100K +3388.9%	103K	$18.1M
Arrowstreet Capital, Limited Partnership Hedge fund	+55K +110.4%	104K	$18.2M

Biggest sellers

by change in shares held

Biggest sellers
Institution	Change in shares	Shares June 30, 2026	Value
Two Sigma Investments, LP Hedge fund	−1.9M −97.7%	45K	$7.9M
First Trust Advisors LP	−806K −74.3%	278K	$48.8M
Jane Street Group, LLC	−670K −99.7%	2,082	$365,287
Hershey Trust Co	−610K −31.3%	1.3M	$234M
Qube Research & Technologies Ltd Hedge fund	−460K −52.4%	419K	$73.4M
Marshall Wace, LLP Hedge fund	−400K −91.8%	35K	$6.2M
Citadel Advisors LLC Hedge fund	−365K −50.0%	365K	$64M
Millennium Management LLC Hedge fund	−314K −58.1%	227K	$39.8M
HRT Financial LP	−287K Sold out	0	—
Squarepoint Ops LLC Hedge fund	−278K −56.7%	213K	$37.3M
Trexquant Investment LP Hedge fund	−277K −82.7%	58K	$10.1M
Westwood Holdings Group Inc Active manager	−273K −97.2%	7,940	$1.4M
American Century Companies Inc Active manager	−240K −61.9%	148K	$25.9M
Balyasny Asset Management L.P. Hedge fund	−222K −98.5%	3,363	$590,038
Nomura Asset Management International Inc.	−201K −53.4%	175K	$30.8M
Citigroup Inc	−179K −34.6%	337K	$59.2M
UBS Group AG	−179K −16.3%	919K	$161M
Axiom Investors LLC Active manager	−178K −46.8%	202K	$35.5M
Barclays PLC	−150K −36.0%	267K	$46.8M
Royal Bank Of Canada	−145K −4.8%	2.9M	$507M

Biggest sellers, active managers and hedge funds
Institution	Change in shares	Shares June 30, 2026	Value
Two Sigma Investments, LP Hedge fund	−1.9M −97.7%	45K	$7.9M
Qube Research & Technologies Ltd Hedge fund	−460K −52.4%	419K	$73.4M
Marshall Wace, LLP Hedge fund	−400K −91.8%	35K	$6.2M
Citadel Advisors LLC Hedge fund	−365K −50.0%	365K	$64M
Millennium Management LLC Hedge fund	−314K −58.1%	227K	$39.8M
Squarepoint Ops LLC Hedge fund	−278K −56.7%	213K	$37.3M
Trexquant Investment LP Hedge fund	−277K −82.7%	58K	$10.1M
Westwood Holdings Group Inc Active manager	−273K −97.2%	7,940	$1.4M
American Century Companies Inc Active manager	−240K −61.9%	148K	$25.9M
Balyasny Asset Management L.P. Hedge fund	−222K −98.5%	3,363	$590,038

New positions

largest by value

Institution	Shares	Value June 30, 2026
GQG Partners LLCActive manager	2.8M	$485M
Jupiter Asset Management LtdActive manager	150K	$26.4M
Varenne Capital Partners	127K	$22.3M
Pinebridge Investments LLC	73K	$12.8M
Logan Capital Management Inc	52K	$9.2M
Cinctive Capital Management LPHedge fund	39K	$6.9M
Varma Mutual Pension Insurance Co	39K	$6.8M
Intact Investment Management Inc.	33K	$5.8M
Entropy Technologies, LP	28K	$5M
Darwins River Capital, LP	28K	$4.9M

Sold out

largest by value

Institution	Shares	Value March 31, 2026
HRT Financial LP	287K	$59.6M
Tudor Investment Corp Et AlHedge fund	104K	$21.6M
Verition Fund Management LLCHedge fund	69K	$14.4M
Alyeska Investment Group, L.P.Hedge fund	68K	$14.1M
Sienna Gestion	52K	$11.3M
Erste Asset Management Gmbh	46K	$9.8M
Qsemble Capital Management, LP	41K	$8.5M
Jlb & Associates Inc	40K	$8.2M
Susquehanna Fundamental Investments, LLC	31K	$6.4M
Slagle Financial, LLC	28K	$5.9M

Who holds the shares

13F holdings at June 30, 2026

Institutions reporting: 1,405
Ten largest holders: 46.9%
Index fund managers: 37.7%
Active managers and hedge funds: 14.3%

Buying and selling by type of institution, March 31, 2026 to June 30, 2026
Type	Bought	Sold	New	Sold out	Net change in shares	Net %
Active managers and hedge funds	34	41	4	12	+346K	+1.9%
Index fund managers	8	4	0	0	+938K	+1.9%
Other institutions	599	640	101	165	+3.6M	+6.2%

Active managers and hedge funds: a list we maintain of about 400 well-known stock-picking firms and hedge funds, matched by SEC registration number (CIK) and checked against the filer names each quarter. Index fund managers: the large index houses, such as BlackRock, Vanguard, State Street, Geode and Northern Trust. Every other filer (banks, brokers, wealth managers, pension funds, insurers and firms not on the list) counts as another institution. A firm that files under several SEC registrations appears once for each.

What these filings can and cannot tell you

Form 13F lists the long positions in US-listed shares held by investment managers with more than $100 million in such holdings. Managers file it up to 45 days after each quarter ends, so this page shows what funds held at the end of each quarter, not what they are doing now: a position may have changed since. Short positions, most derivatives and smaller managers are not included, and a cut can mean a fund lost clients or rebalanced rather than a view on The Hershey.

Only managers that filed a holdings report for both quarters are compared (1,563 here). 39 other holders are left out: first-time or late filers, firms that changed their SEC registration, and filings that withheld positions under confidential treatment, any of which would otherwise look like a new position or a sale. Figures are as reported by each manager in the SEC's quarterly 13F data sets; option positions are excluded.

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