Who owns Norfolk Southern (NSC)
Which tracked institutional funds hold NSC, how they are positioned, and who is buying versus exiting — from SEC Form 13F-HR filings. See NSC company fundamentals →
Ownership as of the 2026-Q1 13F filings (latest filed 2026-05-18). 13F is disclosed up to 45 days after quarter-end, so the most recent quarter fills in over the following weeks.
How the tape is positioned
The tracked-fund tape on NSC is one-sided between 2026-Q1 and 2026-Q2: 21 added or opened and 1056 trimmed or exited — on balance reducing.
A prompt to read the filings, not a verdict. 13F is a quarter-end snapshot disclosed up to 45 days late; a fund adds or exits for mandate, benchmark, and timing reasons that have nothing to do with a view on the stock. This is a starting question, not a signal to trade.
Conviction spread
NSC’s largest tracked holder by dollar value, VANGUARD GROUP INC, sizes it at 0.1% of its own reported 13F book, while the median holder sizes it at 0.1% of theirs — a 0.0pp gap the other way — the median holder sizes NSC more heavily than its largest holder by dollar value does.
Book-share is each fund’s reported value in NSC divided by its whole reported 13F book, so it is comparable across funds of different sizes and is unaffected by stock splits. A higher share means a fund has committed more of its book to the name — a starting question about conviction, not a verdict or a signal to trade.
Institutional & insider positioning
Between 2025-Q4 and 2026-Q1, across 1817 tracked filers holding NSC, 705 increased or opened the position and 819 reduced or closed it; over the same quarter, there were no open-market insider Form 4s.
This fuses two public signals for the same quarter — how tracked institutions changed their positions and whether insiders bought or sold in the open market. It describes what was filed; it is a starting question, not a verdict or a signal to trade.
New buyers & exits
Funds opening or closing a position in NSC between the 2026-Q1 and 2026-Q2 13F filings, and the largest changes among funds holding it in both. New buyers and exits are counted on fund presence (split-invariant); adds and trims are measured on reported value.
New buyers 1
- MANGROVE PARTNERS IM, LLC$2M
Full exits 1048
- VANGUARD CAPITAL MANAGEMENT LLC$4.2B
- GEODE CAPITAL MANAGEMENT, LLC$1.5B
- VANGUARD PORTFOLIO MANAGEMENT LLC$1.2B
- BANK OF AMERICA CORP /DE/$919M
- NORTHERN TRUST CORP$757M
- MORGAN STANLEY$754M
Largest adds
- BlackRock, Inc.$1.3B
- STATE STREET CORP$400M
- NORGES BANK$396M
- MILLENNIUM MANAGEMENT LLC$321M
- CAXTON ASSOCIATES LLP$231M
- D. E. Shaw & Co., Inc.$169M
Largest trims
- DODGE & COX$1.0B
- CITADEL ADVISORS LLC$253M
- FMR LLC$85M
- Invesco Ltd.$71M
- Pentwater Capital Management LP$51M
- BALYASNY ASSET MANAGEMENT L.P.$35M
Institutional holders
One row per tracked fund, largest reported value first. “% of value” is the fund’s share of this security’s tracked institutional value — not of shares outstanding. Rows marked stale are from an earlier filing than the security’s latest quarter — that fund is absent from the newest snapshot (position exited, or reported under a different name).
| Fund | Shares | Reported value | % of value | Quarter |
|---|---|---|---|---|
| BlackRock, Inc. added | 16,000,346 | $5.0B | 10.2% | 2026-Q2 |
| VANGUARD CAPITAL MANAGEMENT LLC new | 14,586,659 | $4.2B | 8.5% | 2026-Q1 |
| STATE STREET CORP added | 10,242,817 | $3.2B | 6.5% | 2026-Q2 |
| MILLENNIUM MANAGEMENT LLC added | 5,201,728 | $1.6B | 3.3% | 2026-Q2 |
| GEODE CAPITAL MANAGEMENT, LLC added | 5,076,188 | $1.5B | 2.9% | 2026-Q1 |
| VANGUARD PORTFOLIO MANAGEMENT LLC new | 4,025,893 | $1.2B | 2.3% | 2026-Q1 |
| NORGES BANK added | 3,040,628 | $957M | 1.9% | 2026-Q2 |
| BANK OF AMERICA CORP /DE/ trimmed | 3,201,093 | $919M | 1.9% | 2026-Q1 |
| Pentwater Capital Management LP trimmed | 2,775,000 | $873M | 1.8% | 2026-Q2 |
| D. E. Shaw & Co., Inc. added | 2,601,202 | $818M | 1.7% | 2026-Q2 |
| DODGE & COX trimmed | 2,508,128 | $789M | 1.6% | 2026-Q2 |
| NORTHERN TRUST CORP trimmed | 2,637,668 | $757M | 1.5% | 2026-Q1 |
| MORGAN STANLEY trimmed | 2,627,420 | $754M | 1.5% | 2026-Q1 |
| DIMENSIONAL FUND ADVISORS LP added | 2,259,558 | $648M | 1.3% | 2026-Q1 |
| Amundi added | 2,226,885 | $639M | 1.3% | 2026-Q1 |
| Capital World Investors added | 2,011,919 | $633M | 1.3% | 2026-Q2 |
| PRICE T ROWE ASSOCIATES INC /MD/ trimmed | 1,925,031 | $606M | 1.2% | 2026-Q2 |
| AMERICAN CENTURY COMPANIES INC added | 2,028,936 | $582M | 1.2% | 2026-Q1 |
| UBS Group AG added | 1,778,069 | $510M | 1.0% | 2026-Q1 |
| CITADEL ADVISORS LLC trimmed | 1,585,467 | $499M | 1.0% | 2026-Q2 |
| HBK INVESTMENTS L P trimmed | 1,736,356 | $498M | 1.0% | 2026-Q1 |
| Legal & General Group Plc trimmed | 1,709,405 | $491M | 1.0% | 2026-Q1 |
| LONDON CO OF VIRGINIA trimmed | 1,700,297 | $488M | 1.0% | 2026-Q1 |
| ARROWSTREET CAPITAL, LIMITED PARTNERSHIP added | 1,626,688 | $467M | 0.9% | 2026-Q1 |
| GOLDMAN SACHS GROUP INC trimmed | 1,625,745 | $467M | 0.9% | 2026-Q1 |
| JPMORGAN CHASE & CO trimmed | 1,627,442 | $459M | 0.9% | 2026-Q1 |
| FMR LLC trimmed | 1,389,376 | $437M | 0.9% | 2026-Q2 |
| CHARLES SCHWAB INVESTMENT MANAGEMENT INC added | 1,478,895 | $424M | 0.9% | 2026-Q1 |
| Invesco Ltd. trimmed | 1,346,401 | $424M | 0.9% | 2026-Q2 |
| MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. added | 1,313,998 | $377M | 0.8% | 2026-Q1 |
| VANGUARD FIDUCIARY TRUST CO new | 1,264,242 | $363M | 0.7% | 2026-Q1 |
| BALYASNY ASSET MANAGEMENT L.P. trimmed | 1,111,173 | $350M | 0.7% | 2026-Q2 |
| Bank of New York Mellon Corp trimmed | 1,192,855 | $342M | 0.7% | 2026-Q1 |
| Fisher Asset Management, LLC added | 1,155,414 | $332M | 0.7% | 2026-Q1 |
| UBS AM, a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC trimmed | 1,154,135 | $331M | 0.7% | 2026-Q1 |
| CAXTON ASSOCIATES LLP added | 1,043,375 | $328M | 0.7% | 2026-Q2 |
| PRIMECAP MANAGEMENT CO/CA/ trimmed | 1,032,910 | $325M | 0.7% | 2026-Q2 |
| WELLS FARGO & COMPANY/MN trimmed | 1,043,477 | $299M | 0.6% | 2026-Q1 |
| Qube Research & Technologies Ltd added | 917,991 | $263M | 0.5% | 2026-Q1 |
| Capital Wealth Planning, LLC new | 898,374 | $258M | 0.5% | 2026-Q1 |
| ADAGE CAPITAL PARTNERS GP, L.L.C. added | 854,036 | $245M | 0.5% | 2026-Q1 |
| Verition Fund Management LLC added | 758,728 | $239M | 0.5% | 2026-Q2 |
| DZ BANK AG Deutsche Zentral Genossenschafts Bank, Frankfurt am Main trimmed | 793,222 | $228M | 0.5% | 2026-Q1 |
| MARSHALL WACE, LLP added | 711,526 | $224M | 0.5% | 2026-Q2 |
| Squarepoint Ops LLC trimmed | 765,651 | $220M | 0.4% | 2026-Q1 |
| COHEN & STEERS, INC. added | 744,140 | $214M | 0.4% | 2026-Q1 |
| HOTCHKIS & WILEY CAPITAL MANAGEMENT LLC trimmed | 741,668 | $213M | 0.4% | 2026-Q1 |
| TUDOR INVESTMENT CORP ET AL added | 647,145 | $204M | 0.4% | 2026-Q2 |
| DEUTSCHE BANK AG\ added | 703,321 | $202M | 0.4% | 2026-Q1 |
| Nuveen, LLC added | 668,639 | $192M | 0.4% | 2026-Q1 |
| Swiss National Bank added | 658,520 | $189M | 0.4% | 2026-Q1 |
| Sculptor Capital LP added | 658,413 | $189M | 0.4% | 2026-Q1 |
| Third Point LLC added | 600,000 | $189M | 0.4% | 2026-Q2 |
| CITIGROUP INC added | 655,316 | $188M | 0.4% | 2026-Q1 |
| BANK OF NOVA SCOTIA added | 588,472 | $169M | 0.3% | 2026-Q1 |
| CINCINNATI FINANCIAL CORP | 587,687 | $169M | 0.3% | 2026-Q1 |
| ALLIANCEBERNSTEIN L.P. added | 571,572 | $165M | 0.3% | 2026-Q1 |
| NEUBERGER BERMAN GROUP LLC trimmed | 566,607 | $163M | 0.3% | 2026-Q1 |
| Hudson Bay Capital Management LP added | 486,264 | $153M | 0.3% | 2026-Q2 |
| Kryger Capital LLC new | 530,269 | $152M | 0.3% | 2026-Q1 |
| National Pension Service trimmed | 530,245 | $152M | 0.3% | 2026-Q1 |
| CANADA PENSION PLAN INVESTMENT BOARD trimmed | 520,482 | $149M | 0.3% | 2026-Q1 |
| Mitsubishi UFJ Asset Management Co., Ltd. added | 509,292 | $146M | 0.3% | 2026-Q1 |
| Sumitomo Mitsui Trust Group, Inc. trimmed | 504,042 | $145M | 0.3% | 2026-Q1 |
| Westchester Capital Management, LLC added | 501,638 | $144M | 0.3% | 2026-Q1 |
| FIL Ltd trimmed | 490,758 | $141M | 0.3% | 2026-Q1 |
| Vanguard Global Advisers, LLC new | 490,191 | $141M | 0.3% | 2026-Q1 |
| ALPINE ASSOCIATES MANAGEMENT INC. trimmed | 464,455 | $133M | 0.3% | 2026-Q1 |
| SG Americas Securities, LLC added | 459,805 | $132M | 0.3% | 2026-Q1 |
| DAVENPORT & Co LLC trimmed | 451,092 | $129M | 0.3% | 2026-Q1 |
| HSBC HOLDINGS PLC added | 448,091 | $128M | 0.3% | 2026-Q1 |
| ROYAL BANK OF CANADA trimmed | 444,019 | $127M | 0.3% | 2026-Q1 |
| AQR Arbitrage LLC added | 446,139 | $127M | 0.3% | 2026-Q1 |
| LMR Partners LLP added | 434,777 | $125M | 0.3% | 2026-Q1 |
| RHUMBLINE ADVISERS added | 424,758 | $122M | 0.2% | 2026-Q1 |
| VANGUARD ASSET MANAGEMENT, Ltd new | 422,518 | $121M | 0.2% | 2026-Q1 |
| California Public Employees Retirement System added | 415,656 | $119M | 0.2% | 2026-Q1 |
| BARCLAYS PLC trimmed | 411,590 | $118M | 0.2% | 2026-Q1 |
| Eurizon Capital SGR S.p.A. trimmed | 411,499 | $118M | 0.2% | 2026-Q1 |
| TWO SIGMA INVESTMENTS, LP added | 349,135 | $110M | 0.2% | 2026-Q2 |
| Assenagon Asset Management S.A. added | 360,469 | $103M | 0.2% | 2026-Q1 |
| COMMONWEALTH OF PENNSYLVANIA PUBLIC SCHOOL EMPLS RETRMT SYS trimmed | 353,729 | $102M | 0.2% | 2026-Q1 |
| PNC FINANCIAL SERVICES GROUP, INC. trimmed | 352,998 | $101M | 0.2% | 2026-Q1 |
| Laurion Capital Management LP | 351,648 | $101M | 0.2% | 2026-Q1 |
| TIG Advisors, LLC added | 336,198 | $96M | 0.2% | 2026-Q1 |
| RAYMOND JAMES FINANCIAL INC trimmed | 332,428 | $95M | 0.2% | 2026-Q1 |
| BNP PARIBAS FINANCIAL MARKETS added | 317,367 | $91M | 0.2% | 2026-Q1 |
| Empyrean Capital Partners, LP added | 317,100 | $91M | 0.2% | 2026-Q1 |
| CALIFORNIA STATE TEACHERS RETIREMENT SYSTEM trimmed | 311,720 | $89M | 0.2% | 2026-Q1 |
| Magnetar Financial LLC added | 275,215 | $87M | 0.2% | 2026-Q2 |
| Aberdeen Group plc trimmed | 301,369 | $86M | 0.2% | 2026-Q1 |
| AMERIPRISE FINANCIAL INC trimmed | 295,360 | $85M | 0.2% | 2026-Q1 |
| VANGUARD GROUP INC added | 20,825,837 | $6.0B | 12.2% | 2025-Q4 stale |
| Holocene Advisors, LP added | 983,366 | $252M | 0.5% | 2025-Q2 stale |
| Interval Partners, LP added | 778,920 | $199M | 0.4% | 2025-Q2 stale |
| FARALLON CAPITAL MANAGEMENT LLC new | 615,000 | $185M | 0.4% | 2025-Q3 stale |
| TOMS Capital Investment Management LP new | 711,000 | $182M | 0.4% | 2025-Q2 stale |
| MASSACHUSETTS FINANCIAL SERVICES CO /MA/ added | 630,862 | $161M | 0.3% | 2025-Q2 stale |
| KRYGER CAPITAL Ltd added | 491,015 | $142M | 0.3% | 2025-Q4 stale |
| Capitolis Liquid Global Markets LLC new | 288,900 | $83M | 0.2% | 2025-Q4 stale |
Ownership over time
Tracked institutional holder count and total shares held by filing quarter (independent scales). The curated-era tail and any mid-ingest latest quarter are handled honestly — a partial quarter is not drawn as a collapse.
Reading this table
Funds hold the same stock for different reasons — an index fund “holds” almost everything, an active manager sizes a name to a mandate and a benchmark, and each fund entered at its own price and time. Because 13F is filed up to 45 days after quarter-end, every row is a backward-looking snapshot; a manager may have traded since. Share-class siblings (a company’s A and C shares) are rolled up to one line so a dual-class name is never double-counted. Compare like-for-like. A large holder is not an endorsement, and a fund exiting is not a warning — this is a starting question, not a verdict.
About 13F filings
A Form 13F is a quarterly disclosure that institutional investment managers with over $100 million in US-listed equities must file with the SEC. In plain English: it is a snapshot of the long stock positions a fund held at the end of a quarter. It covers long US-listed equities only — not short positions, options, cash, or private holdings — and the funds shown are the large sample we track, not the complete 13F universe.