Stock Analysis
Data Source: SEC EDGAR 13F
Updated Hourly

Hershey Co (HSY)

1K + Investors. Track Smart Money conviction in HSY. See who's accumulating, reducing, or initiating positions.

Current Price
-- USD
Analyst Target
-- (0 analysts)
Upside
0.00%
Net Flow Q/Q
↓ -67
Streak
1Q ▼
Buyers last Q
48%

Smart Money Signals — HSY

Based on 1407 hedge funds · latest filing: 2026 Q2 · updated quarterly

📉

Selling streak — 1 quarter in a row

last 6Q
For 1 consecutive quarter, more hedge funds reduced or closed their HSY positions than added to them. Sustained institutional selling is a meaningful warning sign — these are professionals with deep research teams collectively deciding to exit.
🏔️

At the ownership peak (95% of max)

95% of all-time peak
1,407 hedge funds hold HSY right now — the highest count in 3.0 years. When ownership is this concentrated, any bad news can trigger a chain reaction: one big fund sells, others follow. This is a classic 'crowded trade' — high popularity doesn't equal safety.
📶

Steady growth — +8% more funds vs a year ago

fund count last 6Q
+105 new funds entered over the past year (+8% YoY). Gradual, steady growth in institutional ownership is generally a healthy signal — not a speculative rush, but consistent conviction.
🟠

More sellers than buyers — 48% buying

672 buying714 selling
Last quarter: 714 funds reduced or exited vs 672 that bought or added. When more than half of active funds are selling, it's a caution flag — especially if the stock price hasn't moved down yet.
⚠️

Fewer new buyers each quarter (-70 vs last Q)

new funds entering per quarter
Funds opening this position for the first time: 162 → 186 → 203 → 133. Each quarter fewer new institutions are entering. This usually means most funds that wanted in are already in — the stock is well-known but the pool of potential new buyers is shrinking.
🔒

69% of holders stayed for 2+ years

■ 69% conviction (2yr+) ■ 16% medium ■ 14% new
975 out of 1,407 hedge funds have held HSY for over 2 years without selling. Long-term investors are generally harder to shake out during market stress, creating a stable ownership base that limits the risk of sudden capitulation.
💎

Buying through price weakness — shares +39%, value -10%

Value
-10%
Shares
+39%
Last quarter: funds added +39% more shares while total portfolio value only changed -10%. Institutions were buying while the price was falling — a high-conviction accumulation signal. They're deliberately loading up on the dip.
➡️

Steady discovery — ~133 new funds/quarter

127 → 162 → 186 → 203 → 133 new funds/Q
New funds entering each quarter: 162 → 186 → 203 → 133. Consistent flow of new institutional buyers without clear acceleration or slowdown.
🏛️

Veteran-anchored — 72% veterans vs 16% newcomers

■ 72% veterans ■ 12% 1-2yr ■ 16% new
Entry-cohort mix of 1,437 holders: 1,029 (72%) are 2+ year veterans, 173 entered 1–2 years ago, and 235 (16%) joined within the past year. A veteran-weighted cap table skews toward institutional memory over fresh momentum.
🏆

Elite ownership — 60% AUM from top-100 funds

60% from top-100 AUM funds
69 of 1403 holders are among the 100 largest funds by AUM, controlling 60% of total institutional value in HSY. When the biggest players dominate the cap table, it signifies deep institutional support — since mega-funds deploy the most rigorous due diligence and capital.
3.3
out of 10
Low Exit Risk
Exit risk score 3.3/10 — low institutional crowding. Ownership is below peak levels, holder base is relatively sticky, and buying momentum is positive.

Methodology note: these Smart Money cards use consecutive 13F disclosure snapshots, not trade-by-trade execution data. "Buying", "selling", "new holders", and "trimmed" refer to quarter-over-quarter changes in reported holders, aggregate shares, or disclosed position values between filings. They are useful for ownership regime analysis and crowding, but they do not imply exact trade timing on the filing date.

Institutional Sentiment Summary — HSY

In 2026 Q2, 672 hedge funds were net buyers of HSY (133 opened a new position, 539 added to an existing one), while 714 reduced or exited (514 trimmed, 200 sold completely) — a 48% buyer ratio, indicating roughly balanced activity. 60% of total institutional value in HSY is held by top-100 AUM funds, reflecting elite-tier ownership quality. Net fund flow last quarter: -67 funds (more exits than new entries). Total institutional holders: 1407.

Hedge Fund Ownership: HSY

How many hedge funds hold HSY — quarterly history vs. share price
Quarterly hedge fund ownership of HSY vs. share price

Market Analysis: HSY

Analyst Price Targets

Avg. Price Target
--

Analyst Recommendations

Stock Performance

Real-time

Company Profile: HSY

-- --

Institutional ownership data sourced from SEC EDGAR Form 13F-HR filings.

Is It Too Late to Buy Hershey Co (HSY) Based on Hedge Fund 13F Filings?

Signal Freshness measures how much HSY has moved relative to its sector benchmark (XLP) since the 2026 Q2 13F filing. A stock that has barely outrun its sector is still a relatively fresh entry point — the fund's thesis has not yet been priced in by the broader market.

Since Quarter End June 30, 2026 · 79d ago
HSY
-2.9%
XLP
+0.3%

HSY outperformed XLP by -3.2% since June 30, 2026.

Since 13F Filing Date August 14, 2026 · 34d ago
HSY
-7.5%
XLP
-3.2%

Since the filing became public, HSY outperformed XLP by -4.3% .

Interpretation: The stock is tracking its sector benchmark closely. The signal remains fresh and the entry point is still near the fund's implied reference. Learn more →

Smart Money Signal ?
Broad Consensus, Selective Conviction

Many quality funds hold this stock, but top-tier positions remain relatively small.

41 top-rated funds 6 high-conviction
Consensus
7.0
/ 10
breadth
×
Elite
3.6
/ 10
conviction
Hedge Fund Positioning: HSY
1K + Investors

Track Smart Money conviction in HSY. See who's accumulating, reducing, or initiating positions.

Metric All 13F Filers (2026 Q2) Prior (2026 Q1) Change
Funds Holding 1391 1474 -5.63%
13F Shares 132M 126M 4.75%
Total Value $22.73B $25.54B -10.98%
New Positions 130 203 -73
Increased Positions 526 531 -5
Closed Positions 209 135 +74
Reduced Positions 502 469 +33
Total Calls 18 21 -14.29%
Total Puts 15 19 -21.05%
PUT/CALL Ratio 0.83 0.9 Neutral

Statistics: HSY

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Valuation Measures Data as of: --

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PEG Ratio (5yr expected) --
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Enterprise Value/EBITDA --
Beta (5Y Monthly) --
Short Ratio (Days to Cover) --
Short % of Float --

Financial Highlights

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Total Cash (mrq) --
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Institutional Holders (2026 Q2)

1K + investors

Explore institutional interest and hedge fund ownership dynamics. Analyze portfolio weights, new positions, and conviction trends in HSY. Verified SEC 13F-HR filings.

QUARTER:
Top 25 HSY holders by conviction (% of portfolio weight) — 2026 Q2 · Source: SEC Form 13F
# Investor % of Portfolio Shares Mkt Value
1 DRH Investments, Inc. 7.74% 55,700 $9.8M
2 Kennon-Green & Company, LLC 5.96% 43,554 $7.6M
3 Varenne Capital Partners 3.69% 127,096 $22.3M
4 Owlhouse Capital LP 3.69% 13,700 $2.4M
5 Inkwell Capital LLC 3.34% 18,290 $3.2M
6 Miramar Capital, LLC 3.02% 78,278 $13.7M
7 Econ Financial Services Corp 2.87% 34,966 $6.1M
8 Nfj Investment Group, LLC 2.78% 468,818 $82.3M
9 Darwins River Capital, LP 2.68% 27,818 $4.9M
10 Skba Capital Management LLC 2.67% 92,065 $16.2M
11 Two Point Capital Management, Inc. 2.57% 36,409 $6.4M
12 Concorde Financial Corp 2.52% 17,825 $3.1M
13 Lawson Kroeker Investment Management Inc/Ne 2.48% 50,979 $8.9M
14 Hershey Trust Co 2.39% 1,336,119 $234.4M
15 Beck Bode, LLC 2.26% 84,896 $14.9M
16 Sone Capital Management, LLC 2.10% 156,927 $27.5M
17 Sierra Legacy Group 2.07% 15,196 $2.7M
18 Scharf Investments, LLC 2.06% 355,964 $62.5M
19 Orion Investment Co 2.00% 39,074 $6.9M
20 Virginia Wealth Management Group, INC. 1.99% 22,730 $4.0M
21 O'Domhnaill Enterprises, Inc. 1.96% 13,987 $2.5M
22 Bontempo Ohly Capital Mgmt LLC 1.93% 25,820 $4.5M
23 Equity Investment Corp 1.92% 572,436 $100.4M
24 Iron Gate Global Advisors LLC 1.89% 111,568 $19.6M
25 Confluence Investment Management LLC 1.82% 663,243 $116.4M
Investor Ownership
History 		% of Portfolio Prev % Rank Conviction Avg Buy Price 13F Score™ 3Y / 7Y Sell Timing Shares Mkt Value Change Change % Source Quarter Filed

Frequently Asked Questions — Hershey Co (HSY)

What does the Smart Money Trend signal show for HSY?

Selling streak — 1 quarter in a row: For 1 consecutive quarter, more hedge funds reduced or closed their HSY positions than added to them. Sustained institutional selling is a meaningful warning sign — these are professionals with deep research teams collectively deciding to exit.

What is the institutional breadth score for HSY?

More sellers than buyers — 48% buying: Last quarter: 714 funds reduced or exited vs 672 that bought or added. When more than half of active funds are selling, it's a caution flag — especially if the stock price hasn't moved down yet.

What is the fund quality score for HSY holders?

Elite ownership — 60% AUM from top-100 funds: 69 of 1403 holders are among the 100 largest funds by AUM, controlling 60% of total institutional value in HSY. When the biggest players dominate the cap table, it signifies deep institutional support — since mega-funds deploy the most rigorous due diligence and capital.

How long have hedge funds held HSY?

69% of holders stayed for 2+ years: 975 out of 1,407 hedge funds have held HSY for over 2 years without selling. Long-term investors are generally harder to shake out during market stress, creating a stable ownership base that limits the risk of sudden capitulation.

Is it too late to buy Hershey Co (HSY) following the 2026 Q2 hedge fund 13F filings?

As of today, HSY has moved -7.5% since the 2026 Q2 13F filing date (August 14, 2026), compared to -3.2% for the XLP sector ETF — an outperformance of -4.3%. Since the quarter end (June 30, 2026), HSY has gained -2.9% vs +0.3% for XLP. The stock is tracking its sector benchmark closely. The signal remains fresh and the entry point is still near the fund's implied reference.

Where does this institutional ownership data come from?

All holdings data is sourced from SEC Form 13F filings, which institutional investment managers with over $100 million in assets are required to submit quarterly. Data is parsed directly from SEC EDGAR.

Disclaimer: The information on this page is for informational purposes only and does not constitute investment advice, a recommendation, or an offer to buy or sell any security. Institutional holdings data is sourced from SEC Form 13F filings and reflects positions as of the filing date. Past performance of any fund or portfolio is not indicative of future results. 13Foresight is not a registered investment adviser. Always conduct your own due diligence before making investment decisions.

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