HERSHEY CO

Ticker: HSY CUSIP: 427866108 Class: COM

STATE OF MICHIGAN RETIREMENT SYSTEM's Holding History (CIK: 0000762152)

Note: Option positions (PUT/CALL) are excluded.

Q4 2025

Shares 39,734 Value ($000) $7,231 Avg Close $182.10 Range $160.20 - $195.61

Q3 2025

Shares 41,734 Value ($000) $7,806 Avg Close $179.65 Range $157.64 - $195.98

Q2 2025

Shares 41,934 Value ($000) $6,959 Avg Close $161.62 Range $147.76 - $171.55

Q1 2025

Shares 41,634 Value ($000) $7,121 Avg Close $159.26 Range $135.68 - $188.86

Q4 2024

Shares 41,634 Value ($000) $7,051 Avg Close $172.88 Range $161.40 - $201.43

Q3 2024

Shares 42,334 Value ($000) $8,119 Avg Close $186.05 Range $173.28 - $197.64

Q2 2024

Shares 42,534 Value ($000) $7,819 Avg Close $183.90 Range $170.96 - $200.78

Q1 2024

Shares 43,334 Value ($000) $8,428 Avg Close $182.08 Range $171.64 - $197.25

Q4 2023

Shares 43,334 Value ($000) $8,079 Avg Close $177.67 Range $168.22 - $188.07

Q3 2023

Shares 43,334 Value ($000) $8,670 Avg Close $208.68 Range $186.34 - $234.08

Q2 2023

Shares 188,234 Value ($000) $47,002 Avg Close $243.41 Range $229.38 - $256.47

Q1 2023

Shares 189,134 Value ($000) $48,118 Avg Close $217.16 Range $196.48 - $236.25

Q4 2022

Shares 188,734 Value ($000) $43,705 Avg Close $212.11 Range $194.14 - $223.77

Q3 2022

Shares 190,134 Value ($000) $41,919 Avg Close $205.25 Range $195.64 - $215.32

Q2 2022

Shares 159,734 Value ($000) $34,368 Avg Close $198.68 Range $184.07 - $210.73

Q1 2022

Shares 44,634 Value ($000) $9,669 Avg Close $184.39 Range $172.95 - $198.80

Q4 2021

Shares 44,561 Value ($000) $8,621 Avg Close $163.59 Range $152.06 - $175.74

Q3 2021

Shares 39,505 Value ($000) $6,686 Avg Close $158.83 Range $151.23 - $163.85

Q2 2021

Shares 39,805 Value ($000) $6,933 Avg Close $150.65 Range $139.49 - $157.70

Q1 2021

Shares 39,505 Value ($000) $6,248 Avg Close $134.06 Range $128.16 - $144.34

Q4 2020

Shares 39,805 Value ($000) $6,063 Avg Close $130.99 Range $119.95 - $137.31

Q3 2020

Shares 40,805 Value ($000) $5,849 Avg Close $124.86 Range $110.57 - $134.39

Q2 2020

Shares 37,605 Value ($000) $4,874 Avg Close $117.69 Range $110.22 - $129.02

Q1 2020

Shares 33,982 Value ($000) $4,503 Avg Close $128.46 Range $95.94 - $141.23

Q4 2019

Shares 35,882 Value ($000) $5,274 Avg Close $128.44 Range $120.24 - $136.96

Q3 2019

Shares 35,782 Value ($000) $5,546 Avg Close $130.18 Range $114.84 - $140.21

Q2 2019

Shares 33,382 Value ($000) $4,474 Avg Close $108.95 Range $96.71 - $119.86

Q1 2019

Shares 40,082 Value ($000) $4,603 Avg Close $92.82 Range $85.67 - $98.33

Q4 2018

Shares 40,182 Value ($000) $4,307 Avg Close $90.02 Range $83.70 - $93.74

Q3 2018

Shares 41,682 Value ($000) $4,252 Avg Close $83.10 Range $75.87 - $90.13

Q2 2018

Shares 41,382 Value ($000) $3,851 Avg Close $77.82 Range $74.15 - $84.11

Q1 2018

Shares 41,482 Value ($000) $4,105 Avg Close $85.63 Range $79.23 - $94.75

Q4 2017

Shares 41,382 Value ($000) $4,697 Avg Close $90.64 Range $84.24 - $95.74

Q3 2017

Shares 42,882 Value ($000) $4,681 Avg Close $87.23 Range $84.75 - $90.95

Q2 2017

Shares 45,982 Value ($000) $4,937 Avg Close $89.83 Range $86.09 - $95.13

Q1 2017

Shares 45,882 Value ($000) $5,013 Avg Close $86.82 Range $82.06 - $89.26

Q4 2016

Shares 45,582 Value ($000) $4,715 Avg Close $79.47 Range $75.46 - $85.01

Q3 2016

Shares 49,026 Value ($000) $4,687 Avg Close $84.63 Range $75.80 - $91.46

Q2 2016

Shares 48,826 Value ($000) $5,541 Avg Close $74.40 Range $69.72 - $94.01

Q1 2016

Shares 49,426 Value ($000) $4,552 Avg Close $70.50 Range $64.94 - $74.38

Q4 2015

Shares 49,126 Value ($000) $4,385 Avg Close $70.38 Range $64.98 - $76.21

Q3 2015

Shares 52,726 Value ($000) $4,844 Avg Close $71.03 Range $64.48 - $73.88

Q2 2015

Shares 56,926 Value ($000) $5,057 Avg Close $73.07 Range $68.26 - $79.29

Q1 2015

Shares 57,026 Value ($000) $5,754 Avg Close $80.45 Range $75.95 - $85.66

Q4 2014

Shares 60,926 Value ($000) $6,332 Avg Close $74.66 Range $68.59 - $82.31

Q3 2014

Shares 61,126 Value ($000) $5,833 Avg Close $70.60 Range $66.83 - $74.33

Q2 2014

Shares 61,126 Value ($000) $5,952 Avg Close $74.38 Range $71.97 - $79.21

Q1 2014

Shares 61,226 Value ($000) $6,392 Avg Close $77.22 Range $71.70 - $82.25

Q4 2013

Shares 60,926 Value ($000) $5,924 Avg Close $72.20 Range $67.86 - $75.97

Q3 2013

Shares 60,826 Value ($000) $5,626 Avg Close $69.67 Range $66.17 - $73.07

Q2 2013

Shares 60,926 Value ($000) $5,439 Avg Close $65.69 Range $62.96 - $68.27

Period	Shares	Value ($000)	Average Close	Price Range
Q4 2025	39,734	$7,231	$182.10	$160.20 - $195.61
Q3 2025	41,734	$7,806	$179.65	$157.64 - $195.98
Q2 2025	41,934	$6,959	$161.62	$147.76 - $171.55
Q1 2025	41,634	$7,121	$159.26	$135.68 - $188.86
Q4 2024	41,634	$7,051	$172.88	$161.40 - $201.43
Q3 2024	42,334	$8,119	$186.05	$173.28 - $197.64
Q2 2024	42,534	$7,819	$183.90	$170.96 - $200.78
Q1 2024	43,334	$8,428	$182.08	$171.64 - $197.25
Q4 2023	43,334	$8,079	$177.67	$168.22 - $188.07
Q3 2023	43,334	$8,670	$208.68	$186.34 - $234.08
Q2 2023	188,234	$47,002	$243.41	$229.38 - $256.47
Q1 2023	189,134	$48,118	$217.16	$196.48 - $236.25
Q4 2022	188,734	$43,705	$212.11	$194.14 - $223.77
Q3 2022	190,134	$41,919	$205.25	$195.64 - $215.32
Q2 2022	159,734	$34,368	$198.68	$184.07 - $210.73
Q1 2022	44,634	$9,669	$184.39	$172.95 - $198.80
Q4 2021	44,561	$8,621	$163.59	$152.06 - $175.74
Q3 2021	39,505	$6,686	$158.83	$151.23 - $163.85
Q2 2021	39,805	$6,933	$150.65	$139.49 - $157.70
Q1 2021	39,505	$6,248	$134.06	$128.16 - $144.34
Q4 2020	39,805	$6,063	$130.99	$119.95 - $137.31
Q3 2020	40,805	$5,849	$124.86	$110.57 - $134.39
Q2 2020	37,605	$4,874	$117.69	$110.22 - $129.02
Q1 2020	33,982	$4,503	$128.46	$95.94 - $141.23
Q4 2019	35,882	$5,274	$128.44	$120.24 - $136.96
Q3 2019	35,782	$5,546	$130.18	$114.84 - $140.21
Q2 2019	33,382	$4,474	$108.95	$96.71 - $119.86
Q1 2019	40,082	$4,603	$92.82	$85.67 - $98.33
Q4 2018	40,182	$4,307	$90.02	$83.70 - $93.74
Q3 2018	41,682	$4,252	$83.10	$75.87 - $90.13
Q2 2018	41,382	$3,851	$77.82	$74.15 - $84.11
Q1 2018	41,482	$4,105	$85.63	$79.23 - $94.75
Q4 2017	41,382	$4,697	$90.64	$84.24 - $95.74
Q3 2017	42,882	$4,681	$87.23	$84.75 - $90.95
Q2 2017	45,982	$4,937	$89.83	$86.09 - $95.13
Q1 2017	45,882	$5,013	$86.82	$82.06 - $89.26
Q4 2016	45,582	$4,715	$79.47	$75.46 - $85.01
Q3 2016	49,026	$4,687	$84.63	$75.80 - $91.46
Q2 2016	48,826	$5,541	$74.40	$69.72 - $94.01
Q1 2016	49,426	$4,552	$70.50	$64.94 - $74.38
Q4 2015	49,126	$4,385	$70.38	$64.98 - $76.21
Q3 2015	52,726	$4,844	$71.03	$64.48 - $73.88
Q2 2015	56,926	$5,057	$73.07	$68.26 - $79.29
Q1 2015	57,026	$5,754	$80.45	$75.95 - $85.66
Q4 2014	60,926	$6,332	$74.66	$68.59 - $82.31
Q3 2014	61,126	$5,833	$70.60	$66.83 - $74.33
Q2 2014	61,126	$5,952	$74.38	$71.97 - $79.21
Q1 2014	61,226	$6,392	$77.22	$71.70 - $82.25
Q4 2013	60,926	$5,924	$72.20	$67.86 - $75.97
Q3 2013	60,826	$5,626	$69.67	$66.17 - $73.07
Q2 2013	60,926	$5,439	$65.69	$62.96 - $68.27