Markel Corp reports 11.11% increase in ownership of HSY / The Hershey Company

The Hershey Company

MX ˙ BMV ˙ US4278661081

Security	MX:HSY / The Hershey Company
Institution	Markel Corp
Latest Disclosed Ownership	75,000 shares
Latest Disclosed Value	$ 15,591,750

On May 1, 2026 - Markel Corp filed a 13F-HR form disclosing ownership of 75,000 shares of The Hershey Company (MX:HSY) valued at $15,591,750 USD as of March 31, 2026. The entity filed a previous 13F-HR on February 6, 2026 disclosing 67,500 shares of The Hershey Company. This represents a change in shares of 11.11% during the quarter.

Institutional Ownership: 13F and NPORT Filings

The Security and Class in the table below are shown exactly as filed by the investor. We do our best to track continuity of investments through acquisitions, and this will be reflected in the table as changes in names. In addition to descriptive data, performance of the investment is shown over time. To calculate quarterly performance, we first calculate cost basis of the shares purchased during the quarter, then use that to calculate gross profit. Quarterly return is Gross Profit / Starting Portfolio value.

Note that cost basis is calculated and stored in thousands, so small quarterly changes in shares frequently result in a cost basis of zero.

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Disclosed Equity Positions (from 13F/NPORT Filings)

File Date	Effective Date	Form	Security	Class	ID	Reported Shares	ΔShares	ΔShares (%)	Reported Value (x1000)	ΔValue (%)	Alloc (%)
2026-05-01	2026-03-31	13F	HERSHEY	COM	427866108	75,000	7,500	11.11	15,592	26.93	0.1126
2026-02-06	2025-12-31	13F	HERSHEY	COM	427866108	67,500	13,000	23.85	12,284	20.49	0.0979
2025-10-31	2025-09-30	13F	HERSHEY	COM	427866108	54,500	0	0.00	10,194	12.72	0.0827
2025-08-01	2025-06-30	13F	HERSHEY	COM	427866108	54,500	0	0.00	9,044	-2.97	0.0765
2025-05-02	2025-03-31	13F	HERSHEY	COM	427866108	54,500	9,500	21.11	9,321	22.32	0.0828
2025-02-07	2024-12-31	13F	HERSHEY	COM	427866108	45,000	9,000	25.00	7,621	10.37	0.0672
2024-11-01	2024-09-30	13F	HERSHEY	COM	427866108	36,000	14,500	67.44	6,904	74.70	0.0621
2024-08-02	2024-06-30	13F	HERSHEY	COM	427866108	21,500	12,000	126.32	3,952	113.97	0.0389
2024-05-03	2024-03-31	13F	HERSHEY	COM	427866108	9,500	9,500		1,848		0.0182
2019-02-08	2018-12-31	13F	Hershey Foods	COM	427866108	0	-24,100	-100.00	0	-100.00
2018-11-02	2018-09-30	13F	Hershey Foods	COM	427866108	24,100	0	0.00	2,458	9.59	0.0415
2018-08-03	2018-06-30	13F	Hershey Foods	COM	427866108	24,100	0	0.00	2,243	-5.95	0.0412
2018-08-03	2018-06-30	13F	General Electric	COM	369604103	95,000	0		1,293		0.0237
2018-04-27	2018-03-31	13F	Hershey Foods	COM	427866108	24,100	0	0.00	2,385	-12.83	0.0453
2018-04-27	2018-03-31	13F	General Electric	COM	369604103	95,000	0		1,281		0.0244
2018-02-09	2017-12-31	13F	Hershey Foods	COM	427866108	24,100	0	0.00	2,736	3.99	0.0517
2018-02-09	2017-12-31	13F	General Electric	COM	369604103	95,000	0		1,658		0.0313
2017-10-27	2017-09-30	13F	Hershey Foods	COM	427866108	24,100	0	0.00	2,631	1.66	0.0524
2017-10-27	2017-09-30	13F	General Electric	COM	369604103	95,000	55,000		2,297		0.0457
2017-07-28	2017-06-30	13F	Hershey Foods	COM	427866108	24,100	0	0.00	2,588	-1.71	0.0552
2017-07-28	2017-06-30	13F	General Electric	COM	369604103	40,000	40,000		1,080		0.0230
2017-04-28	2017-03-31	13F	Hershey Foods	COM	427866108	24,100	0	0.00	2,633	5.62	0.0593
2017-02-10	2016-12-31	13F	Hershey Foods	COM	427866108	24,100	0	0.00	2,493	8.20	0.0601
2016-11-04	2016-09-30	13F	Hershey Foods	COM	427866108	24,100	0	0.00	2,304	-15.76	0.0594
2016-08-05	2016-06-30	13F	Hershey Foods	COM	427866108	24,100	7,700	46.95	2,735	81.13	0.0721
2016-05-06	2016-03-31	13F	Hershey Foods	COM	427866108	16,400	4,400	36.67	1,510	40.99	0.0405
2016-02-16	2015-12-31	13F	Hershey Foods	COM	427866108	12,000	-2,951,000	-99.60	1,071	-98.57	0.0290
2015-11-09	2015-09-30	13F	General Electric	COM	369604103	2,963,000	0	0.00	74,727	-5.08	1.9686
2015-08-14	2015-06-30	13F	General Electric	COM	369604103	2,963,000	0	0.00	78,727	7.09	1.9659
2015-05-07	2015-03-31	13F	General Electric	COM	369604103	2,963,000	23,000	0.78	73,512	-1.05	1.8583
2015-02-09	2014-12-31	13F	General Electric	COM	369604103	2,940,000	66,000	2.30	74,294	0.90	1.9605
2014-11-12	2014-09-30	13F	General Electric	COM	369604103	2,874,000	58,000	2.06	73,632	-0.50	2.0766
2014-08-08	2014-06-30	13F	General Electric	COM	369604103	2,816,000	186,000	7.07	74,004	8.68	2.1100
2014-05-13	2014-03-31	13F	General Electric	COM	369604103	2,630,000	31,700	1.22	68,091	-6.51	2.0905
2014-02-11	2013-12-31	13F	General Electric	COM	369604103	2,598,300	144,859	5.90	72,830	24.26	2.3020
2013-11-12	2013-09-30	13F	General Electric	COM	369604103	2,453,441	21,910	0.90	58,613	3.95	2.0095
2013-08-08	2013-06-30	13F	General Electric	COM	369604103	2,431,531	2,431,531		56,387		2.0169

Legend

Shares: The total number of shares held by the institution at the end of the reporting period (the effective date). This is provided in the filing.
Value: The total value of the shares as of the effective date. This is provided in the filing.
Avg. Share Price: The weighted average share price of the shares held by the institution. We use FIFO accounting to determine this price
Class: This is the security class as indicated by the filer. There are a variety of values for this field. Common values include "EC" = equity common, "EP" - equity preferred

Allocation (%): The percent of the institution's portfolio that this position represents. This is provided in NPORT filings. For 13F filings, we calculate it.
Change in Allocation: The change in allocation from the prior reporting period. This is calculated as current allocation - prior allocation.
Change in Allocation (%): The percent change in allocation from the prior reporting period. This is calculated as (current allocation - prior allocation) / prior allocation.
Cost Basis: The total cost of the shares held. This is calculated as reported shares * avg. share price
Unrealized Gain/Loss: This is the market value of the position as of the effective date minus the cost basis.