PCM
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Pentwater Capital Management’s Norfolk Southern NSC Stock Holding History

Pentwater Capital Management’s Portfolio NSC Stock Details NSC Fund Activity
Bought
Maintained
Sold
Quarter Market Value Status Shares Change in
Stake 		Trade Value Portfolio Weight Portfolio Position
2026
Q2 		$873M Sell
2,775,000
-445,000
-14% -$137M 5.34% 6
2026
Q1 		$924M Buy
3,220,000
+201,000
+7% +$59.7M 4.79% 7
2025
Q4 		$872M Buy
3,019,000
+269,000
+10% +$77.8M 4.58% 9
2025
Q3 		$826M Buy
+2,750,000
New +$764M 4.62% 6

Other funds holding NSC

BlackRock
BlackRock New York $6.73T AUM 46.02% 1-Year Est. Return
Vanguard Capital Management
Vanguard Capital Management Malvern, Pennsylvania $4.68T AUM
State Street
State Street Boston, Massachusetts $3.37T AUM 44.26% 1-Year Est. Return
Vanguard Portfolio Management
Vanguard Portfolio Management Malvern, Pennsylvania $2.22T AUM
Millennium Management
Millennium Management New York $276B AUM 44.8% 1-Year Est. Return
Geode Capital Management
Geode Capital Management Boston, Massachusetts $1.88T AUM 44.46% 1-Year Est. Return
Bank of America
Bank of America Charlotte, North Carolina $1.55T AUM 33.47% 1-Year Est. Return
Norges Bank
Norges Bank Oslo, Norway $1T AUM
Northern Trust
Northern Trust Chicago, Illinois $860B AUM 41.15% 1-Year Est. Return
Morgan Stanley
Morgan Stanley New York $1.89T AUM 35.08% 1-Year Est. Return

Pentwater Capital Management's NSC Position: Q2 2026 in Review

Pentwater Capital Management reduced its Norfolk Southern (NSC) stake by 14% in Q2 2026, selling an estimated $137M and leaving 2,775,000 shares worth $873M. The position accounts for 5.34% of the portfolio, ranked #6.

Pentwater Capital Management first reported a position in NSC in Q3 2025 and has held it in 4 quarters since. The position peaked at $924M in Q1 2026. 1,862 funds tracked by Wall St. Rank hold NSC as of Q2 2026.

  • Pentwater Capital Management held 2,775,000 shares of Norfolk Southern worth $873M as of Q2 2026.
  • Pentwater Capital Management sold 445,000 Norfolk Southern shares in Q2 2026, an estimated $137M.
  • Norfolk Southern made up 5.34% of Pentwater Capital Management's portfolio in Q2 2026, its #6 holding.
  • Pentwater Capital Management first reported a position in Norfolk Southern in Q3 2025 and has held it in 4 quarters since.
  • Pentwater Capital Management's Norfolk Southern position peaked at $924M in Q1 2026.
  • 1,862 funds tracked by Wall St. Rank held Norfolk Southern as of Q2 2026.

Based on Pentwater Capital Management's 13F filing for Q2 2026, filed 14 Aug 2026.