Holders over time
- HSY
- PM
| Quarter | HSY | PM |
|---|---|---|
| Q3 2020 | 18 holders, $1.6bn | 25 holders, $19.7bn |
| Q4 2020 | 16 holders, $1.8bn | 25 holders, $21.5bn |
| Q1 2021 | 17 holders, $1.7bn | 27 holders, $22.1bn |
| Q2 2021 | 15 holders, $1.9bn | 20 holders, $23.2bn |
| Q3 2021 | 16 holders, $1.9bn | 25 holders, $22.8bn |
| Q4 2021 | 18 holders, $2.2bn | 26 holders, $22.3bn |
| Q1 2022 | 20 holders, $2.4bn | 29 holders, $23.2bn |
| Q2 2022 | 20 holders, $2.8bn | 28 holders, $25.8bn |
| Q3 2022 | 23 holders, $3.0bn | 33 holders, $22.2bn |
| Q4 2022 | 19 holders, $2.8bn | 26 holders, $27.0bn |
| Q1 2023 | 26 holders, $3.4bn | 36 holders, $27.6bn |
| Q2 2023 | 26 holders, $3.3bn | 29 holders, $28.9bn |
| Q3 2023 | 20 holders, $2.4bn | 32 holders, $28.5bn |
| Q4 2023 | 22 holders, $2.0bn | 34 holders, $28.8bn |
| Q1 2024 | 14 holders, $1.5bn | 36 holders, $28.4bn |
| Q2 2024 | 12 holders, $1.0bn | 31 holders, $31.4bn |
| Q3 2024 | 8 holders, $269m | 39 holders, $38.2bn |
| Q4 2024 | 13 holders, $555m | 40 holders, $36.6bn |
| Q1 2025 | 9 holders, $424m | 44 holders, $49.1bn |
| Q2 2025 | 12 holders, $1.1bn | 44 holders, $54.3bn |
| Q3 2025 | 12 holders, $1.5bn | 36 holders, $49.3bn |
| Q4 2025 | 15 holders, $1.2bn | 26 holders, $50.5bn |
| Q1 2026 | 17 holders, $3.0bn | 25 holders, $57.3bn |
| Q2 2026 | 10 holders, $1.6bn | 27 holders, $63.8bn |
Hershey Co
- Holders
- 15
- Reported value
- $1.2bn
- Buyers
- 24
- Sellers
- 15
Breadth +9 among 92 comparable managers.
Philip Morris Intl Inc
- Holders
- 26
- Reported value
- $50.5bn
- Buyers
- 20
- Sellers
- 24
Breadth -4 among 92 comparable managers.
Who holds both, Q4 2025
Both (8)
Capital Research Global Investors, Freestone Grove Partners LP, Markel Group Inc, Maverick Capital Ltd, MFS Investment Management, Neuberger Berman Group LLC, Squarepoint Ops LLC, Woodline Partners LP
Only HSY (7)
Balyasny Asset Management LLC, Holocene Advisors LP, Hudson Bay Capital Management LP, Marshall Wace LLP, Quantbot Technologies LP, Two Sigma Investments LP, Verition Fund Management LLC
Only PM (18)
Acadian Asset Management LLC, AllianceBernstein LP, AQR Capital Management LLC, Arrowstreet Capital LP, Artisan Partners LP, Baillie Gifford & Co, Capital World Investors, D. E. Shaw & Co., Dodge & Cox, Fidelity (FMR LLC), First Eagle Investment Management LLC, Harris Associates LP, Invesco Ltd, Janus Henderson Group Ltd, Lone Pine Capital LLC, T. Rowe Price Associates Inc, Walleye Capital LLC, Wellington Management Group LLP
How much of the picture this is
A 13F is a manager’s long US-listed equity book at a quarter end, filed up to 45 days later. Buyers and sellers count comparable managers (those that filed both quarters) by shares, so a rise in value with no rise in shares is the price. Large books are listed to their largest positions. These are 95 tracked managers, not the institutional market.