Norfolk Southern
1,863 hedge funds and large institutions have $53.6B invested in Norfolk Southern in 2026 Q2 according to their latest regulatory filings, with 135 funds opening new positions, 610 increasing their positions, 639 reducing their positions, and 85 closing their positions.
59% more first-time investments, than exits
New positions opened: 135 | Existing positions closed: 85
11% more capital invested
Capital invested by funds: $48.2B → $53.6B (+$5.43B)
1% more funds holding
Funds holding: 1,838 → 1,863 (+25)
1.11% more ownership
Funds ownership: 74.84% → 75.95% (+1.1%)
5% less repeat investments, than reductions
Existing positions increased: 610 | Existing positions reduced: 639
4% less funds holding in top 10
Funds holding in top 10: 55 → 53 (-2)
16% less call options, than puts
Call options by funds: $145M | Put options by funds: $172M
Top Buyers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
Vanguard Portfolio Management
Malvern,
Pennsylvania
|
+$984M |
| 2 |
BlackRock
New York
|
+$223M |
| 3 |
CAU
Caxton Associates (UK)
London,
|
+$217M |
| 4 |
Millennium Management
New York
|
+$190M |
| 5 |
TP
Third Point
New York
|
+$154M |
Top Sellers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
Dodge & Cox
San Francisco,
California
|
-$1.16B |
| 2 |
Citadel Advisors
Miami,
Florida
|
-$319M |
| 3 |
DZ Bank
Frankfurt Am Main,
Germany
|
-$240M |
| 4 |
UBS Group
Zurich,
Switzerland
|
-$238M |
| 5 |
Amundi
Paris,
France
|
-$212M |
NSC Hedge Fund Activity: Q2 2026 in Review
1,863 of the 8,323 institutional investors tracked by Wall St. Rank reported a position in Norfolk Southern (NSC) for Q2 2026, worth a combined $53.6B — up 11% from $48.2B a quarter earlier.
Buyers outnumbered sellers: 135 funds opened new NSC positions and 85 closed out — a net gain of 50 holders — while 610 added to existing stakes and 639 trimmed.
The largest buyer was Vanguard Portfolio Management, adding an estimated $984M. The largest seller was Dodge & Cox, cutting an estimated $1.16B.
- 1,863 institutional investors held Norfolk Southern (NSC) as of Q2 2026, up from 1,838 in Q1 2026.
- Funds reported $53.6B of Norfolk Southern stock for Q2 2026, up 11% quarter-over-quarter.
- 135 funds opened new Norfolk Southern positions in Q2 2026 and 85 closed out, a net change of +50 holders.
- The largest Norfolk Southern buyer in Q2 2026 was Vanguard Portfolio Management, an estimated $984M added.
- The largest Norfolk Southern seller in Q2 2026 was Dodge & Cox, an estimated $1.16B sold.
Based on aggregated 13F filings for Q2 2026.