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1,310 hedge funds and large institutions have $21.3B invested in Hershey in 2025 Q2 according to their latest regulatory filings, with 114 funds opening new positions, 518 increasing their positions, 442 reducing their positions, and 133 closing their positions.

New
Increased
Maintained
Reduced
Closed

17% more repeat investments, than reductions

Existing positions increased: 518 | Existing positions reduced: 442

14% more funds holding in top 10

Funds holding in top 10: 78 (+1)

3.7% more ownership

Funds ownership: 83.05%86.75% (+3.7%)

1% more capital invested

Capital invested by funds: $21B → $21.3B (+$307M)

2% less funds holding

Funds holding: 1,3421,310 (-32)

14% less first-time investments, than exits

New positions opened: 114 | Existing positions closed: 133

18% less call options, than puts

Call options by funds: $337M | Put options by funds: $410M

Holders
1,310
Holders Change
-32
Holders Change %
-2.38%
% of All Funds
17.25%
Holding in Top 10
8
Holding in Top 10 Change
+1
Holding in Top 10 Change %
+14.29%
% of All Funds
0.11%
New
114
Increased
518
Reduced
442
Closed
133
Calls
$337M
Puts
$410M
Net Calls
-$73.3M
Net Calls Change
-$200M
Name Holding Trade Value Shares
Change
Change in
Stake
MG
176
Markel Group
Virginia
$9.04M
LCM
177
Logan Capital Management
Pennsylvania
$8.68M
UB
178
UMB Bank
Missouri
$8.67M +$901K +5,467 +12%
QCM
179
Quantinno Capital Management
New York
$8.44M +$140K +851 +2%
Kovitz Investment Group Partners
180
Kovitz Investment Group Partners
Illinois
$8.41M +$677K +4,108 +9%
Nomura Asset Management
181
Nomura Asset Management
Japan
$8.36M -$3.18M -19,271 -28%
Cerity Partners
182
Cerity Partners
New York
$8.34M -$147K -894 -2%
State of New Jersey Common Pension Fund D
183
State of New Jersey Common Pension Fund D
New Jersey
$8.3M -$101K -615 -1%
Wealthfront Advisers
184
Wealthfront Advisers
California
$8.27M +$3.57M +21,678 +77%
Natixis Advisors
185
Natixis Advisors
Massachusetts
$8.07M -$210K -1,277 -3%
Canada Pension Plan Investment Board
186
Canada Pension Plan Investment Board
Ontario, Canada
$8.03M +$2.11M +12,809 +36%
VOYA Investment Management
187
VOYA Investment Management
Georgia
$7.93M -$269K -1,632 -3%
KGC
188
Kennon-Green & Company
Ohio
$7.8M +$205K +1,243 +3%
LF
189
Lansforsakringar Fondforvaltning
Sweden
$7.79M -$263K -1,594 -3%
RB
190
Rodgers Brothers
Pennsylvania
$7.71M +$1.61M +9,780 +27%
DekaBank Deutsche Girozentrale
191
DekaBank Deutsche Girozentrale
Germany
$7.63M -$5.22M -31,662 -41%
GHA
192
GW Henssler & Associates
Georgia
$7.56M +$763K +4,630 +11%
Ohio Public Employees Retirement System (OPERS)
193
Ohio Public Employees Retirement System (OPERS)
Ohio
$7.51M +$62.1K +377 +0.8%
Fifth Third Bancorp
194
Fifth Third Bancorp
Ohio
$7.5M +$2.39M +14,510 +47%
RPI
195
Railway Pension Investments
United Kingdom
$7.23M
Baird Financial Group
196
Baird Financial Group
Wisconsin
$7.2M +$43.4K +263 +0.6%
T
197
TOBAM
France
$7.19M +$729K +4,422 +11%
SIA
198
Soltis Investment Advisors
Utah
$7.18M -$449K -2,722 -6%
ASRS
199
Arizona State Retirement System
Arizona
$7.18M +$91K +552 +1%
DnB Asset Management
200
DnB Asset Management
Norway
$7.06M +$868K +5,267 +14%

HSY Hedge Fund Activity: Q2 2025 in Review

1,310 of the 7,595 institutional investors tracked by Wall St. Rank reported a position in Hershey (HSY) for Q2 2025, worth a combined $21.3B — up 1.5% from $21B a quarter earlier.

Sellers outnumbered buyers: 133 funds closed out of HSY and 114 opened new positions — a net loss of 19 holders — while 442 trimmed existing stakes and 518 added.

The largest buyer was Capital Research Global Investors, adding an estimated $248M. The largest seller was Capital International Investors, cutting an estimated $156M.

  • 1,310 institutional investors held Hershey (HSY) as of Q2 2025, down from 1,342 in Q1 2025.
  • Funds reported $21.3B of Hershey stock for Q2 2025, up 1.5% quarter-over-quarter.
  • 114 funds opened new Hershey positions in Q2 2025 and 133 closed out, a net change of -19 holders.
  • The largest Hershey buyer in Q2 2025 was Capital Research Global Investors, an estimated $248M added.
  • The largest Hershey seller in Q2 2025 was Capital International Investors, an estimated $156M sold.

Based on aggregated 13F filings for Q2 2025.