Hershey

HSY • NYSE

Hershey is a food confectioners company in the consumer defensive sector on NYSE, led by Kirk Tanner, with a market cap of $36.9B. As of Q3 2025, 62% of shares are held by 1,319 institutional investors, with VANGUARD GROUP INC as the largest holder at 9.31%.

President and Chief Executive OfficerKirk Tanner

Market Cap$36.9B

Food Confectioners

Consumer Defensive

Employees20.5K

Websitethehersheycompany.com

Country

United States of America

Overview

Overview of institutional ownership in HSY as of Q3 2025 with a market cap of $37.9B

All Institutions

Institutions: 1,319
Value Held: $23.5B
Shares Held: 125.8M
Avg Position: $17.8M
Median Position: $747.9K

Hedge Funds

Hedge Funds: 48
Value Held: $1.4B
Shares Held: 7.2M
Avg Position: $28.2M
Median Position: $2.3M

Ownership Breakdown

Institutional (non-HF)

58.51%

$22.2B

Hedge Funds

3.57%

$1.4B

Retail & Other

37.92%

$14.4B

Based on market cap of $37.9B as of Q3 2025. Institutional (non-HF) excludes hedge funds to avoid double counting.

Biggest Investors

Institutions with the largest positions in HSY as of Q3 2025

Institution	Key People	Position Value	Ownership	Owned Since	Total AUM (Long)
VANGUARD GROUP INC Institution	Salim Ramji CEO	$3.5B 0.05% of portfolio	9.31% 18.9M shares	≤ Q2 2013 Held for 12y 5m+	$6.69T
B BlackRock, Inc. Institution	-	$2.3B 0.04% of portfolio	5.96% 12.1M shares	≤ Q2 2013 Held for 12y 5m+	$5.67T
C Capital International Investors Institution	-	$1.7B 0.27% of portfolio	4.41% 8.9M shares	Q2 2024 Held for 1y 5m	$615.90B
STATE STREET CORP Institution	Ronald P. O'Hanley CEO	$1.4B 0.05% of portfolio	3.58% 7.3M shares	≤ Q2 2013 Held for 12y 5m+	$2.88T
SCHWAB CHARLES INVESTMENT MANAGEMENT INC Long Only Manager	Omar Aguilar Chavez CEO	$971.0M 0.16% of portfolio	2.56% 5.2M shares	≤ Q2 2013 Held for 12y 5m+	$620.51B
GEODE CAPITAL MANAGEMENT LLC ETF Provider	David Kenneth Lane CEO	$881.3M 0.06% of portfolio	2.33% 4.7M shares	≤ Q2 2013 Held for 12y 5m+	$1.57T
MORGAN STANLEY RIA/Wealth	Jed Finn CEO	$683.5M 0.04% of portfolio	1.80% 3.7M shares	≤ Q2 2013 Held for 12y 5m+	$1.65T
R ROYAL BANK OF CANADA Institution	-	$564.1M 0.10% of portfolio	1.49% 3.0M shares	≤ Q2 2013 Held for 12y 5m+	$542.04B
CITADEL ADVISORS LLC Hedge Fund•Multi-Strategy	Kenneth Cordele Griffin CEO	$469.2M 0.38% of portfolio	1.24% 2.5M shares	≤ Q2 2013 Held for 12y 5m+	$122.08B
H HERSHEY TRUST CO Institution	-	$386.5M 99.13% of portfolio	1.02% 2.1M shares	Q2 2023 Held for 2y 5m	$389.9M

Net Capital Flow

Institutional buying and selling activity for HSY in Q3 2025

Traded: +$60.7M
Buyers: 630
Sellers: 530
Total Bought: +$1.8B
Total Sold: −$1.7B
Avg Position: $16.7M

Biggest Buyers

Institution	Net Bought	Current Position
CITADEL ADVISORS LLC Hedge Fund•Multi-Strategy	+$258.2M +1.4M shares	$469.2M 2.5M shares
FIRST TRUST ADVISORS LP ETF Provider	+$166.7M +891.3K shares	$236.2M 1.3M shares
FMR LLC Institution	+$144.7M +773.4K shares	$215.5M 1.2M shares
ENVESTNET ASSET MANAGEMENT INC Long Only Manager	+$113.2M +605.0K shares	$206.6M 1.1M shares
Point72 Asset Management, L.P. Hedge Fund•Multi-Strategy	+$75.8M +405.5K shares	$75.8M 405.5K shares
MILLENNIUM MANAGEMENT LLC Hedge Fund•Multi-Strategy	+$65.9M +352.1K shares	$103.3M 552.2K shares
Candlestick Capital Management LP Hedge Fund•Long/Short	+$64.5M +344.7K shares	$64.5M 344.7K shares
UBS Group AG Institution	+$46.1M +246.3K shares	$340.5M 1.8M shares
Clark Capital Management Group, Inc. RIA/Wealth	+$44.5M +237.7K shares	$44.5M 237.7K shares
ExodusPoint Capital Management, LP Hedge Fund•Multi-Strategy	+$43.0M +229.8K shares	$43.0M 229.8K shares

Biggest Sellers

Institution	Net Sold	Current Position
C Capital International Investors Institution	−$322.7M −1.7M shares	$1.7B 8.9M shares
JPMORGAN CHASE & CO Institution	−$267.9M −1.4M shares	$344.9M 1.8M shares
A Amundi Institution	−$93.3M −478.2K shares	$115.9M 593.7K shares
UBS GLOBAL ASSET MANAGEMENT AMERICAS INC Long Only Manager	−$82.6M −441.7K shares	$176.1M 941.7K shares
M MACQUARIE GROUP LTD Institution	−$77.0M −411.6K shares	$111.7M 597.1K shares
R READYSTATE ASSET MANAGEMENT LP Hedge Fund•Multi-Strategy	−$73.0M −440.0K shares	Sold Off 0 shares
BARCLAYS PLC Institution	−$57.1M −305.1K shares	$74.4M 398.0K shares
A AMERICAN CENTURY COMPANIES INC Institution	−$50.2M −268.4K shares	$100.6M 537.7K shares
CITIGROUP INC Institution	−$47.6M −254.3K shares	$52.4M 280.3K shares
BALYASNY ASSET MANAGEMENT LLC Hedge Fund•Multi-Strategy	−$46.2M −247.1K shares	$95.7M 511.4K shares

Entry and Exit Activity

Institutions that initiated new positions or completely exited HSY in Q3 2025

New Positions: 55
New Value: $73.0M
Exited Positions: 92
Exited Value: $222.3M

New Positions

Institution	Position Value
Ceredex Value Advisors LLC Long Only Manager	$22.7M 121.3K shares
B Baypointe Partners LLC Hedge Fund•Long/Short	$16.4M 87.5K shares
A Albar Capital Partners LLP Institution	$9.3M 49.8K shares
Alley Investment Management Company, LLC RIA/Wealth	$6.6M 35.5K shares
B BUTENSKY & COHEN FINANCIAL SECURITY, INC Institution	$3.7M 19.5K shares
Intrinsic Edge Capital Management LLC Hedge Fund•Multi-Strategy	$2.8M 15.0K shares
Uniplan Investment Counsel, Inc. RIA/Wealth	$1.3M 7.0K shares
Dynasty Wealth Management, LLC Fund of Funds	$1.1M 5.6K shares
CHESAPEAKE CAPITAL CORP /IL/ Long Only Manager	$697.5K 3.7K shares
1 111 Capital Institution	$662.7K 3.5K shares

Exited Positions

Institution	Previous Position
R READYSTATE ASSET MANAGEMENT LP Hedge Fund•Multi-Strategy	$73.0M 440.0K shares
V Value Partner Investments Inc. Institution	$35.6M 214.4K shares
B BAILLIE GIFFORD & CO Institution	$16.8M 101.4K shares
A AXA Institution	$11.8M 70.9K shares
R Railway Pension Investments Ltd Institution	$7.2M 43.5K shares
Burns Wealth Management, Inc. RIA/Wealth	$6.7M 40.5K shares
YACKTMAN ASSET MANAGEMENT LP Long Only Manager	$6.3M 38.3K shares
Quinn Opportunity Partners LLC Hedge Fund•Event Driven	$6.1M 36.9K shares
L Laurel Wealth Advisors LLC RIA/Wealth	$4.8M 29.0K shares
X XTX Topco Ltd Institution	$4.5M 27.3K shares

Options Activity

Institutions with the largest Call and Put options positions in HSY as of Q3 2025

Call Positions: 23
Call Value: $322.6M
Put Positions: 27
Put Value: $319.3M

Call Positions

Institution	Position Value
SUSQUEHANNA INTERNATIONAL GROUP, LLP Private Equity	$146.9M 7.9K contracts
CITADEL ADVISORS LLC Hedge Fund•Multi-Strategy	$45.8M 2.5K contracts
J JANE STREET GROUP, LLC Institution	$35.7M 1.9K contracts
BARCLAYS PLC Institution	$32.6M 1.7K contracts
W WOLVERINE TRADING, LLC Institution	$15.8M 859.0 contracts
TUDOR INVESTMENT CORP ET AL Hedge Fund•Multi-Strategy	$9.6M 515.0 contracts
CAPITAL FUND MANAGEMENT S.A. Hedge Fund•Quant Macro	$9.3M 498.0 contracts
Walleye Trading LLC RIA/Wealth	$7.4M 395.0 contracts
C Cubist Systematic Strategies, LLC Institution	$5.7M 307.0 contracts
MILLENNIUM MANAGEMENT LLC Hedge Fund•Multi-Strategy	$2.9M 156.0 contracts

Put Positions

Institution	Position Value
SUSQUEHANNA INTERNATIONAL GROUP, LLP Private Equity	$146.0M 7.8K contracts
CITADEL ADVISORS LLC Hedge Fund•Multi-Strategy	$32.4M 1.7K contracts
BARCLAYS PLC Institution	$29.0M 1.6K contracts
J JANE STREET GROUP, LLC Institution	$26.7M 1.4K contracts
WELLS FARGO & COMPANY/MN Institution	$16.9M 902.0 contracts
W WOLVERINE TRADING, LLC Institution	$15.4M 839.0 contracts
CAPITAL FUND MANAGEMENT S.A. Hedge Fund•Quant Macro	$10.9M 582.0 contracts
Walleye Trading LLC RIA/Wealth	$7.5M 400.0 contracts
D D. E. Shaw & Co., Inc. Institution	$6.1M 326.0 contracts
MILLENNIUM MANAGEMENT LLC Hedge Fund•Multi-Strategy	$5.2M 276.0 contracts

Most Committed Institutions

Institutions with HSY as the highest % of their portfolio as of Q3 2025

Institution	Key People	Portfolio Weight	Ownership	Owned Since	Total AUM (Long)
H HERSHEY TRUST CO Institution	-	99.13% $386.5M	1.02% 2.1M shares	Q2 2023 Held for 2y 5m	$389.9M
DRH Investments, Inc. RIA/Wealth	Scott J Wood President	9.84% $10.8M	0.03% 58.0K shares	Q4 2021 Held for 3y 11m	$109.8M
B Baypointe Partners LLC Hedge Fund•Long/Short	Sean James Gambino Founder	7.48% $16.4M	0.04% 87.5K shares	Q3 2025 Held for 2 months	$218.8M
Kennon-Green & Company, LLC RIA/Wealth	Joshua Allan Kennon Managing Partner	6.47% $8.3M	0.02% 44.5K shares	Q4 2022 Held for 2y 11m	$128.8M
INKWELL CAPITAL LLC RIA/Wealth	Aaron Byrd President	3.57% $3.5M	0.01% 18.7K shares	Q4 2024 Held for 11 months	$97.8M
St. James Investment Company, LLC Long Only Manager	Robert Joseph Mark Manager	3.36% $21.4M	0.06% 114.3K shares	Q4 2024 Held for 11 months	$636.7M
I ISTHMUS PARTNERS, LLC RIA/Wealth	David A Hackworthy CIO	3.02% $13.6M	0.04% 72.5K shares	Q2 2024 Held for 1y 5m	$448.9M
M Monte Financial Group, LLC Institution	-	2.86% $7.8M	0.02% 41.5K shares	Q4 2023 Held for 1y 11m	$271.9M
TOBAM Long Only Manager	Christophe Eugéne Jean Lemarié CEO	2.78% $7.6M	0.02% 40.4K shares	Q1 2017 Held for 8y 8m	$272.0M
SCHARF INVESTMENTS, LLC RIA/Wealth	Brian Alan Krawez President	2.78% $99.9M	0.26% 534.0K shares	Q2 2025 Held for 5 months	$3.6B

Hedge Fund Spotlight

Discover hedge funds investing in HSY

New Age Alpha Advisors, LLC

Hedge Fund • Multi-Strategy

Portfolio ManagerArmen Raphael Arus

Portfolio Value: $2.4B
Positions: 799
Last Reported: Q3 2025

Sector Allocation

Position in Hershey

Market Value: $437.5K
Shares Held: 2.3K
Portfolio Weight: 0.02%
Owned Since: 2024-Q3

Top Holding	Sector	Market Value	Weight
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3 Nvidia NVDA	Semiconductors Technology	$68.8M	2.89%