DaveManuel.com · Institutional Ownership · Who Owns It
NORFOLK SOUTHN CORP (NSC)
Institutional ownership reported to the SEC as of Q2 2026, across 32 quarters.
1,880
Reporting holders
$54.0B
Reported value
76.1%
Of shares outstanding
0.3%
Calls
0.3%
Puts
+34
Holder change
Institutions report 170,873,739 shares against 224,608,373 outstanding. Shares only - option lines are excluded, which is why this can be compared with the company at all. The count comes from the cover page of the company's own most recent report, so it is dated when that was filed rather than at quarter end.
Calls and puts are the parts of reported value carried in derivative lines rather than shares, and they point in opposite directions: a manager holding calls is positioned for the security, one holding puts against it - or hedging shares they already own, which is why index funds carry so many. Most sites add the two together and report one figure, which averages away the only interesting part.
Holders
| Filer | Value | Shares | Their book | Held | Change |
|---|---|---|---|---|---|
| BlackRock, Inc. | $5.0B | 16,000,346 | 0.07% | 8q | +4.7%+$227.8M |
| VANGUARD CAPITAL MANAGEMENT LLC | $4.6B | 14,666,136 | 0.10% | 2q | +0.5%+$25.0M |
| STATE STREET CORP | $3.2B | 10,242,817 | 0.10% | 31q | +4.2%+$128.6M |
| VANGUARD PORTFOLIO MANAGEMENT LLC | $2.3B | 7,215,898 | 0.10% | 2q | +79.2%+$1.0B |
| MILLENNIUM MANAGEMENT LLC | $1.6B | 5,201,728 | 0.59% | 31q | +13.5%+$194.3M |
| GEODE CAPITAL MANAGEMENT, LLC | $1.6B | 5,114,278 | 0.09% | 31q | +0.8%+$11.9M |
| BANK OF AMERICA CORP /DE/ | $979.0M | 3,111,914 | 0.06% | 31q | -2.8%-$28.1M |
| NORGES BANK | $956.6M | 3,040,628 | 0.10% | 32q | -19.1%-$225.3M |
| Pentwater Capital Management LP | $905.5M incl. $32.5M options PUT | 2,775,000 | 5.54% | 4q | -13.8%-$145.2M |
| NORTHERN TRUST CORP | $822.5M | 2,614,406 | 0.10% | 31q | -0.9%-$7.3M |
| MORGAN STANLEY | $821.7M | 2,611,985 | 0.04% | 35q | -0.6%-$4.9M |
| D. E. Shaw & Co., Inc. | $818.3M | 2,601,202 | 0.39% | 5q | +14.9%+$106.2M |
| Dodge & Cox | $789.0M | 2,508,128 | 0.41% | 31q | -59.9%-$1.2B |
| DIMENSIONAL FUND ADVISORS LP | $710.9M | 2,259,711 | 0.13% | 31q | HELD |
| Capital World Investors | $632.9M | 2,011,919 | 0.07% | 31q | HELD |
| PRICE T ROWE ASSOCIATES INC /MD/ | $605.6M | 1,925,031 | 0.06% | 31q | -9.6%-$64.4M |
| GOLDMAN SACHS GROUP INC | $594.2M | 1,888,947 | 0.05% | 31q | +16.2%+$82.8M |
| HBK INVESTMENTS L P | $550.5M | 1,750,000 | 5.35% | 4q | +0.8%+$4.3M |
| ARROWSTREET CAPITAL, LIMITED PARTNERSHIP | $544.9M | 1,732,049 | 0.24% | 9q | +6.5%+$33.1M |
| CITADEL ADVISORS LLC | $522.9M incl. $24.1M options CALL+PUT | 1,585,467 | 0.06% | 31q | -39.5%-$341.3M |
| LONDON CO OF VIRGINIA | $520.0M | 1,652,991 | 2.97% | 31q | -2.8%-$14.9M |
| Legal & General Group Plc | $503.1M | 1,599,203 | 0.10% | 31q | -6.4%-$34.7M |
| Amundi | $484.7M | 1,540,605 | 0.12% | 21q | -30.8%-$215.9M |
| AMERICAN CENTURY COMPANIES INC | $480.1M | 1,526,249 | 0.21% | 31q | -24.8%-$158.1M |
| CHARLES SCHWAB INVESTMENT MANAGEMENT INC | $466.7M | 1,483,414 | 0.06% | 31q | HELD |
| MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. | $449.1M | 1,427,631 | 0.54% | 9q | +8.6%+$35.7M |
| FMR LLC | $437.1M | 1,389,376 | 0.02% | 31q | -23.7%-$135.7M |
| JPMORGAN CHASE & CO | $428.2M incl. $665.0K options PUT | 1,350,252 | 0.02% | 31q | -17.0%-$87.9M |
| Invesco Ltd. | $423.6M | 1,346,401 | 0.03% | 31q | -23.8%-$132.3M |
| VANGUARD FIDUCIARY TRUST CO | $396.7M | 1,260,990 | 0.09% | 2q | HELD |
| Fisher Asset Management, LLC | $377.6M | 1,200,449 | 0.11% | 31q | +3.9%+$14.2M |
| Capital Wealth Planning, LLC | $374.3M | 1,189,769 | 1.87% | 2q | +32.4%+$91.7M |
| Bank of New York Mellon Corp | $364.4M | 1,158,377 | 0.06% | 31q | -2.9%-$10.8M |
| UBS AM, a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC | $364.2M | 1,157,595 | 0.07% | 31q | HELD |
| UBS Group AG | $362.3M incl. $46.2M options CALL+PUT | 1,004,653 | 0.05% | 31q | -43.5%-$278.9M |
| DEUTSCHE BANK AG\ | $356.6M | 1,133,406 | 0.10% | 34q | +61.2%+$135.3M |
| Balyasny Asset Management L.P. | $354.1M incl. $4.6M options PUT | 1,111,173 | 0.44% | 4q | -17.0%-$72.5M |
| WELLS FARGO & COMPANY/MN | $328.9M incl. $157.3K options PUT | 1,044,885 | 0.05% | 31q | HELD |
| CAXTON ASSOCIATES LLP | $328.2M | 1,043,375 | 6.16% | 4q | +208.6%+$221.9M |
| PRIMECAP MANAGEMENT CO/CA/ | $324.9M | 1,032,910 | 0.19% | 31q | HELD |
| Qube Research & Technologies Ltd | $281.6M | 895,245 | 0.26% | 4q | -2.5%-$7.2M |
| COHEN & STEERS, INC. | $244.5M | 777,270 | 0.39% | 31q | +4.5%+$10.4M |
| ADAGE CAPITAL PARTNERS GP, L.L.C. | $241.1M | 766,536 | 0.34% | 31q | -10.2%-$27.5M |
| Kryger Capital LLC | $241.1M | 766,243 | 13.75% | 2q | +44.5%+$74.2M |
| Verition Fund Management LLC | $241.0M incl. $2.3M options CALL+PUT | 758,728 | 1.22% | 26q | +3.8%+$8.8M |
| CITIGROUP INC | $239.9M incl. $3.1M options CALL+PUT | 752,636 | 0.08% | 31q | +14.9%+$31.0M |
| HOTCHKIS & WILEY CAPITAL MANAGEMENT LLC | $228.8M | 727,138 | 0.67% | 8q | -2.0%-$4.6M |
| LMR Partners LLP | $227.1M | 721,895 | 0.85% | 4q | +66.0%+$90.3M |
| MARSHALL WACE, LLP | $223.8M | 711,526 | 0.18% | 15q | +10.6%+$21.4M |
| Symmetry Investments LP | $204.6M | 650,496 | 13.84% | 2q | +319.8%+$155.9M |
| TUDOR INVESTMENT CORP ET AL | $203.6M | 647,145 | 0.28% | 5q | +2.4%+$4.9M |
| Swiss National Bank | $199.2M | 633,240 | 0.10% | 31q | -3.8%-$8.0M |
| Nuveen, LLC | $197.8M | 628,769 | 0.05% | 6q | -6.0%-$12.5M |
| Third Point LLC | $188.8M | 600,000 | 4.03% | 4q | +500.0%+$157.3M |
| CANADA PENSION PLAN INVESTMENT BOARD | $185.2M | 588,715 | 0.10% | 31q | +13.1%+$21.5M |
| BANK OF NOVA SCOTIA | $181.0M | 575,207 | 0.27% | 31q | -2.3%-$4.2M |
| AQR Arbitrage LLC | $180.9M | 578,240 | 2.58% | 4q | +29.6%+$41.3M |
| CINCINNATI FINANCIAL CORP | $180.7M | 574,287 | 3.45% | 31q | -2.3%-$4.2M |
| HSBC HOLDINGS PLC | $172.7M incl. $9.8M options CALL+PUT | 517,163 | 0.07% | 31q | +15.4%+$23.1M |
| National Pension Service | $172.4M | 548,054 | 0.11% | 31q | +3.4%+$5.6M |
| Mitsubishi UFJ Asset Management Co., Ltd. | $170.9M | 543,331 | 0.09% | 31q | +6.7%+$10.7M |
| ALLIANCEBERNSTEIN L.P. | $165.6M | 577,036 | 0.05% | 31q | +1.0%+$1.6M |
| Westchester Capital Management, LLC | $162.2M | 515,734 | 7.94% | 4q | +2.8%+$4.4M |
| FIL Ltd | $157.7M | 501,163 | 0.11% | 31q | +2.1%+$3.3M |
| Sumitomo Mitsui Trust Group, Inc. | $156.8M | 498,289 | 0.09% | 31q | -1.1%-$1.8M |
| Hudson Bay Capital Management LP | $153.0M | 486,264 | 0.42% | 11q | +17.9%+$23.2M |
| Vanguard Global Advisers, LLC | $152.2M | 483,772 | 0.07% | 2q | -1.3%-$2.0M |
| VANGUARD ASSET MANAGEMENT, Ltd | $149.8M | 476,099 | 0.10% | 2q | +12.7%+$16.9M |
| ALPINE ASSOCIATES MANAGEMENT INC. | $145.2M | 461,655 | 9.09% | 4q | -0.6%-$880.9K |
| Squarepoint Ops LLC | $144.1M incl. $283.1K options CALL | 457,236 | 0.16% | 23q | -40.3%-$97.2M |
| DAVENPORT & Co LLC | $143.6M incl. $3.2M options CALL | 445,588 | 0.71% | 31q | -1.2%-$1.8M |
| SG Americas Securities, LLC | $142.0M | 451,488 | 0.08% | 31q | -1.8%-$2.6M |
| ROYAL BANK OF CANADA | $141.8M | 450,634 | 0.02% | 31q | +1.5%+$2.1M |
| California Public Employees Retirement System | $135.9M | 432,067 | 0.08% | 31q | +3.9%+$5.2M |
| RHUMBLINE ADVISERS | $132.2M | 420,195 | 0.10% | 31q | -1.1%-$1.4M |
| Laurion Capital Management LP | $120.9M | 384,349 | 3.10% | 5q | +9.3%+$10.3M |
| Assenagon Asset Management S.A. | $120.7M | 383,746 | 0.08% | 24q | +6.5%+$7.3M |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | $116.0M incl. $109.4M options CALL+PUT | 21,174 | 0.01% | 31q | -7.5%-$9.4M |
| Sculptor Capital LP | $115.3M | 366,413 | 0.94% | 5q | -44.3%-$91.9M |
| TWO SIGMA INVESTMENTS, LP | $109.8M | 349,135 | 0.08% | 31q | +152.6%+$66.4M |
| PNC Financial Services Group, Inc. | $109.5M | 347,991 | 0.05% | 31q | -1.4%-$1.6M |
| NEUBERGER BERMAN GROUP LLC | $108.1M | 343,678 | 0.07% | 31q | -39.3%-$70.1M |
| CALIFORNIA STATE TEACHERS RETIREMENT SYSTEM | $107.5M | 341,574 | 0.10% | 31q | +9.6%+$9.4M |
| Aberdeen Group plc | $103.8M | 330,016 | 0.15% | 31q | +9.5%+$9.0M |
| RAYMOND JAMES FINANCIAL INC | $103.8M | 329,989 | 0.03% | 7q | -0.7%-$767.3K |
| COMMONWEALTH OF PENNSYLVANIA PUBLIC SCHOOL EMPLS RETRMT SYS | $101.3M | 321,969 | 0.49% | 31q | -9.0%-$10.0M |
| CIBC Bancorp USA Inc. | $101.2M | 321,792 | 0.12% | 3q | +267.8%+$73.7M |
| BARCLAYS PLC | $100.7M | 320,164 | 0.02% | 31q | -22.2%-$28.8M |
| TIG Advisors, LLC | $99.6M | 316,508 | 4.41% | 4q | -5.9%-$6.2M |
| Rokos Capital Management LLP | $99.0M | 314,671 | 0.37% | 4q | +130.6%+$56.1M |
| Fort Baker Capital Management LP | $98.9M | 314,269 | 7.23% | 2q | +80.0%+$43.9M |
| BNP PARIBAS FINANCIAL MARKETS | $95.4M | 303,204 | 0.03% | 31q | -4.5%-$4.5M |
| HEALTHCARE OF ONTARIO PENSION PLAN TRUST FUND | $92.5M | 294,092 | 0.13% | 9q | +123.7%+$51.2M |
| AMERIPRISE FINANCIAL INC | $91.0M | 289,229 | 0.02% | 31q | -2.1%-$1.9M |
| ExodusPoint Capital Management, LP | $90.2M incl. $13.3M options CALL | 244,499 | 0.58% | 4q | +52.9%+$31.2M |
| Markel Group Inc. | $88.9M | 282,500 | 0.68% | 31q | HELD |
| Empyrean Capital Partners, LP | $88.0M | 279,800 | 2.91% | 4q | -11.8%-$11.7M |
| ING GROEP NV | $87.1M | 276,878 | 0.43% | 4q | +23.5%+$16.6M |
| Magnetar Financial LLC | $86.6M | 275,215 | 0.79% | 4q | HELD |
| HighTower Advisors, LLC | $85.9M | 273,110 | 0.08% | 31q | -1.4%-$1.2M |
Showing the largest 100 of 1,881 reported holders. The count of 1,880 above leaves out 1 position whose reported value failed our price check; it is listed here as filed.
Q2 2026 in brief
In Q2 2026, 1,880 managers that file Form 13F reported holding Norfolk Southn Corp (NSC), $54.0B in all, or about 76% of the shares outstanding. 138 managers opened a position and 104 sold out completely, against 1,846 holders the quarter before. Largest holders: Blackrock, Inc., Vanguard Capital Management Llc and State Street Corp. Largest new positions: Mizuho Markets Americas Llc ($69.5M), Nearwater Capital Markets, Ltd ($46.9M) and Encompass Capital Advisors Llc ($45.6M).
Q2 2026 is the latest quarter whose 13F deadline has passed. A 13F shows long US stock positions at quarter end, filed up to 45 days later; an adviser and a sub-adviser can both report the same shares.
Quarter by quarter
Coverage begins with the quarter ending 2018-12-31. Earlier filings exist only as occasional late amendments, too sparse to describe a market, so they are not shown.
| Quarter | Holders | Value | Shares | New | Added | Trimmed | Options |
|---|---|---|---|---|---|---|---|
| Q3 2026 | 725 | $1.7B | 5,634,869 | 42 | 189 | 192 | 0.2% |
| Q2 2026 | 1,880 | $54.0B | 170,873,739 | 117 | 514 | 554 | 0.6% |
| Q1 2026 | 1,846 | $48.6B | 168,063,125 | 104 | 493 | 587 | 0.8% |
| Q4 2025 | 1,861 | $50.5B | 173,370,099 | 96 | 485 | 569 | 0.9% |
| Q3 2025 | 1,810 | $52.9B | 174,263,684 | 224 | 445 | 540 | 1.1% |
| Q2 2025 | 1,707 | $45.7B | 177,068,369 | 137 | 457 | 547 | 0.9% |
| Q1 2025 | 1,665 | $41.6B | 174,412,648 | 86 | 480 | 522 | 0.8% |
| Q4 2024 | 1,695 | $42.1B | 177,229,359 | 101 | 444 | 507 | 1.3% |
| Q3 2024 | 1,622 | $45.2B | 180,194,918 | 150 | 409 | 534 | 0.9% |
| Q2 2024 | 1,573 | $39.1B | 180,460,236 | 90 | 455 | 508 | 1.0% |
| Q1 2024 | 1,639 | $47.5B | 184,028,722 | 122 | 433 | 526 | 1.5% |
| Q4 2023 | 1,600 | $44.6B | 186,117,036 | 168 | 379 | 518 | 1.4% |
| Q3 2023 | 1,458 | $33.8B | 169,243,164 | 64 | 401 | 487 | 1.2% |
| Q2 2023 | 1,539 | $38.6B | 168,147,723 | 105 | 414 | 519 | 1.2% |
| Q1 2023 | 1,506 | $36.2B | 168,103,184 | 111 | 333 | 596 | 1.6% |
| Q4 2022 | 1,597 | $43.1B | 171,830,675 | 121 | 375 | 531 | 1.8% |
| Q3 2022 | 1,488 | $115.4B | 762,729,169 | 62 | 421 | 484 | 0.6% |
| Q2 2022 | 1,538 | $125.4B | 549,346,851 | 81 | 445 | 468 | 0.4% |
| Q1 2022 | 1,640 | $143.1B | 499,583,670 | 116 | 424 | 525 | 0.4% |
| Q4 2021 | 1,641 | $153.7B | 597,330,832 | 135 | 414 | 493 | 0.6% |
| Q3 2021 | 1,490 | $134.3B | 679,232,400 | 71 | 408 | 475 | 0.4% |
| Q2 2021 | 1,541 | $130.9B | 589,491,137 | 102 | 412 | 468 | 0.5% |
| Q1 2021 | 1,507 | $148.3B | 627,696,735 | 115 | 369 | 528 | 0.7% |
| Q4 2020 | 1,456 | $131.9B | 605,632,921 | 102 | 379 | 483 | 0.8% |
| Q3 2020 | 1,364 | $118.8B | 630,211,040 | 140 | 322 | 496 | 0.6% |
| Q2 2020 | 1,298 | $93.2B | 581,091,249 | 113 | 328 | 487 | 0.7% |
| Q1 2020 | 1,266 | $105.2B | 907,428,916 | 85 | 318 | 529 | 0.5% |
| Q4 2019 | 1,356 | $115.2B | 633,690,787 | 77 | 340 | 451 | 0.5% |
| Q3 2019 | 1,294 | $101.2B | 624,637,965 | 73 | 347 | 479 | 0.6% |
| Q2 2019 | 1,338 | $110.0B | 757,189,107 | 102 | 331 | 496 | 1.2% |
| Q1 2019 | 1,318 | $105.2B | 559,322,206 | 118 | 303 | 526 | 0.7% |
| Q4 2018 | 1,268 | $96.8B | 704,291,868 | 11 | 23 | 15 | 2.0% |