Hormel Foods Corporation

The full register, from 13F filings

The Register tab above is hand research: a dozen holders, each traced to the filing it came from. This asks the same question of the whole market for the quarter ended 31-mar-2026, where 621 managers reported a position. Broad where the research is deep, and shallow in the ways a 13F always is.

Built from 13F filings, which report US listed, long, US custodied positions only. A register from this source is a floor rather than a level: a holder's true position can be far larger, as BlackRock's ASML stake shows at 1.28m shares in a 13F against 26.3m in its 13G/A. Holdings held through derivatives, outside US custody, or below a manager's reporting obligation do not appear. Where a holder is marked as a family, its total sums several separate filing entities and describes something no single filing describes; the constituent entities and their share counts are listed so the total can be checked. That roll-up can legitimately exceed the family's own Schedule 13G, because a 13G is filed by one legal entity: Vanguard reports Alphabet through ten advisory entities, and The Vanguard Group Inc itself reported zero after its January 2026 disaggregation.

What a reader needs to know to read these numbers

• Holdings side (joint ventures and equity-method investments): Hormel's equity method investments as of the Q2 FY2026 10-Q (period 26 Apr 2026, the newest filing on record, filed after and superseding the FY2025 10-K's 26 Oct 2025 figures) are MegaMex Foods, LLC (50%), Joy Topco, L.P. (49%, newly created 15 Dec 2025), The Purefoods-Hormel Company, Inc. (40%), PT Garudafood Putra Putri Jaya Tbk (30%, publicly traded on the Indonesia Stock Exchange as GOOD), Okinawa Hormel Ltd. (26%), and a bucket labelled 'Corporate Venturing Investments' disclosed only as a range, '26% - 43%', covering an unspecified number of unnamed minority venture-capital-style stakes with no individual names or percentages given anywhere in the 10-Q, 10-K, or Exhibit 21. Per the brief's rule against assigning a combined balance to an unnamed or undifferentiated bucket, no row was created for Corporate Venturing Investments; it is recorded here only as a genuine unknown. Exhibit 21.1 to the FY2025 10-K (https://www.sec.gov/Archives/edgar/data/48465/000004846525000059/q42025ex211subsidiaries.htm) lists only wholly and majority CONSOLIDATED subsidiaries (100% down to entities like 'Beijing Hormel Foods Co. Ltd., China, 80%'), none of which are the equity-method affiliates above; it does carry an ownership-percentage column but for a completely different population of entities, so it neither confirms nor contradicts the equity-method percentages and was treated as a genuine negative for finding additional JV detail, consistent with the Darden/Labcorp pattern flagged in the chunk prompt. Note also two SEPARATE, unrelated, wholly/majority-owned CONSOLIDATED subsidiaries with similar names that must not be confused with the JVs above: 'PT Hormel Garudafood Jaya' (65.785% owned, Indonesia) and 'PT Hormel Pronas Nusantara' (60% owned, Indonesia), both from the same Exhibit 21.1; these are controlled operating subsidiaries, not the 30%-owned publicly traded 'PT Garudafood Putra Putri Jaya Tbk' equity-method investee, and are correctly excluded from holdings as consolidated operating units, matching the brief's exclusion of wholly/majority-owned operating subsidiaries.
• The combined 'Investments in Affiliates' balance-sheet line was $568,549 thousand at 26 Apr 2026 and $533,984 thousand at 26 Oct 2025 (Q2 FY2026 10-Q), covering MegaMex, Joy Topco, Purefoods-Hormel, Garudafood, Okinawa Hormel, and Corporate Venturing Investments together with no per-entity split for MegaMex, Purefoods-Hormel, or Okinawa Hormel individually. Garudafood is the one exception with an individually disclosed carrying value ($247.4 million as of 26 Apr 2026, from the other-than-temporary-impairment discussion) and fair value ($224.2 million, quoted IDX market price as of 24 Apr 2026); the fair value is used as this file's Garudafood value_usd. Joy Topco's value_usd ($47.4 million) is its one-time initial recorded fair value at the 15 Dec 2025 transaction date, not an ongoing market value (Joy Topco is private). MegaMex's, Purefoods-Hormel's, and Okinawa Hormel's value_usd fields are all null because no individual carrying value is disclosed and the combined total cannot be split with confidence.
• The Hormel Foundation's 46.60% block is the dominant feature of the register and was checked specifically for whether it double-counts into the officers/directors aggregate, per the task brief's central concern. It does not: the DEF 14A reports the Foundation's 256,433,116 shares in a separate 5%-holder table as the Foundation's own beneficial ownership (part individual owner, part trustee of various family/estate trusts with 'equal voting rights' among all Foundation board members, meaning no single Hormel director individually controls or is separately credited with those shares), while the Security Ownership of Management table's 'All current directors and executive officers as a group (20 persons)' aggregate totals only 3,207,562 shares (0.58%), an entirely separate and much smaller pool built from personal holdings, options, and RSUs. Even Jeffrey M. Ettinger, a long-serving former CEO/Chairman who also sits on the Foundation's board, is shown with only his own 1,163,421 personal shares in that table, with no footnote tying any of it to Foundation-held stock. No shares were reduced from either row because none overlap.
• Capital Group family checked and found to hold NOTHING in Hormel as of Q2 2026: all eleven Capital Group-affiliated filing entities were enumerated via EDGAR company search (not from the project's HRL.json snapshot, which omits Capital Group entirely, matching the Clorox researcher's prior finding that this snapshot can be incomplete for this family) and each entity's own Q2 2026 13F-HR was read directly for CUSIP 440452100 / any 'HORMEL' fragment: Capital Research & Management Co 0000017283 (13F-NT, no holdings), Capital Research Global Investors 0001422848 (426 rows, none match), Capital World Investors 0001422849 (637 rows, none match), Capital International Investors 0001562230 (446 rows, none match), Capital International, Inc./CA/ 0000895213 (302 rows, none match), Capital International Ltd /CA/ 0001065350 (150 rows, none match), Capital International Sarl 0001065349 (287 rows, none match), Capital Group Companies, Inc. 0000732812 (13F-NT, no holdings), Capital Group International, Inc. 0000949308 (13F-NT, no holdings), Capital Group Investment Management Pte. Ltd. 0001939970 (143 rows, none match), Capital Group Private Client Services, Inc. 0001857666 (260 rows, none match). Genuine negative across the full family; no row recorded for Capital Group.
• Self-gate computed from this final file, using the chart's own formula (members counted at full value, an aggregate reduced only by members that actually roll into it; here no register row has rolls_up_into set, so every row counts at full value including the officers/directors aggregate, which has no individually-listed members in this file): 11 register rows, total shares = 256,433,116 (Foundation) + 3,207,562 (officers/directors aggregate) + 36,859,445 (Vanguard family) + 25,867,365 (State Street) + 19,705,555 (BlackRock) + 15,171,561 (Invesco) + 12,325,712 (Two Sigma) + 9,372,480 (Dimensional) + 8,186,164 (Geode) + 6,189,592 (Morgan Stanley) + 439,023 (T. Rowe Price Associates) = 393,757,575 shares, against shares_outstanding 550,314,959 = 71.55% of the company. This is well above the 25-45% typical band and above the wider 55% outlier threshold flagged in the task brief, but the excess is fully explained by one real, individually sourced, non-duplicated factor: The Hormel Foundation alone holds 46.60% of the company (a genuinely control-sized charitable-foundation stake, the exact scenario the brief warned this company would present), on top of a fairly complete sweep of the ten largest non-Foundation holders which together total 137,324,459 shares, 24.95% of the company, itself a normal institutional total for a large-cap consumer staples name. Checked for the three usual causes of an inflated register and ruled out: not a mixed-instrument error (every institutional row is CUSIP 440452100 common stock; Two Sigma's separate small derivative line was explicitly excluded); not a mixed-basis error (T. Rowe Price Associates' thousands-denominated registrant was rescaled and its implied price cross-checked against every other filer, all clustering at $24.78-24.83/share on 30 Jun 2026); not a double-counted holder (the Foundation and the officers/directors aggregate were specifically checked against each other and found not to overlap, per the note above).
• Implied per-share price check: every Q2 2026 13F row (Vanguard's 7 entities, State Street, BlackRock, Invesco, Two Sigma, Dimensional, Geode, Morgan Stanley, and T. Rowe Price Associates after its thousands correction) clusters between approximately $24.78 and $24.83 per share, all dated 30 Jun 2026. This is independently plausible: the stock's live quote used for market_cap_usd was $24.41 at the 19 Aug 2026 close (stockanalysis.com), only modestly below the late-June 2026 implied level, consistent with Hormel trading in a fairly narrow band over that period.
• market_cap_usd is a computed figure: the 19 Aug 2026 closing price of $24.41 (stockanalysis.com) multiplied by the 24 May 2026 10-Q cover-page share count (550,314,959). The two dates are about three months apart because no single source carries both a current price and a current share count; this is disclosed rather than treated as precise, the same pattern used on this project's J.B. Hunt file.
• Hormel's fiscal year ends in late October, and this file specifically checked which filing was newest by date rather than defaulting to the most recent 10-Q out of habit, per the task brief's warning (the same trap that cost rework on Coherent, Clorox, and Tapestry). Here the check confirmed the 10-Q genuinely IS the newest: the Q2 FY2026 10-Q (period 26 Apr 2026, filed 28 May 2026) postdates the FY2025 10-K (period 26 Oct 2025, filed 5 Dec 2025), and as of 20 Aug 2026 no Q3 FY2026 10-Q had yet been filed (Hormel's Q3 10-Q was filed 28 Aug in the prior fiscal year, so it was plausibly still pending). The 10-Q's Note D additionally contains a wholly new equity-method position (Joy Topco, L.P., created 15 Dec 2025) absent from the 10-K, independently confirming it is the fresher document.
• The Hormel Foundation's shares_outstanding used for its own printed percentage in the DEF 14A (as of 28 Nov 2025) is not separately disclosed as a single number in the excerpts read, but is implied by 256,433,116 / 0.4662 = approximately 550.06 million shares, consistent with the company's issued share count trending from 550,107,260 (26 Oct 2025 10-K balance sheet) to 550,301,827 (26 Apr 2026 10-Q balance sheet) to 550,314,959 (24 May 2026 10-Q cover page), so no inconsistency was found across these close but not identical denominators.