Norfolk Southern
1,691 hedge funds and large institutions have $45.1B invested in Norfolk Southern in 2025 Q2 according to their latest regulatory filings, with 157 funds opening new positions, 532 increasing their positions, 618 reducing their positions, and 101 closing their positions.
55% more first-time investments, than exits
New positions opened: 157 | Existing positions closed: 101
17% more funds holding in top 10
Funds holding in top 10: 12 → 14 (+2)
12% more call options, than puts
Call options by funds: $221M | Put options by funds: $197M
9% more capital invested
Capital invested by funds: $41.3B → $45.1B (+$3.82B)
2% more funds holding
Funds holding: 1,653 → 1,691 (+38)
1.14% more ownership
Funds ownership: 77.04% → 78.18% (+1.1%)
14% less repeat investments, than reductions
Existing positions increased: 532 | Existing positions reduced: 618
Top Buyers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
Holocene Advisors
New York
|
+$196M |
| 2 |
IP
Interval Partners
New York
|
+$184M |
| 3 |
TCIM
TOMS Capital Investment Management
New York
|
+$168M |
| 4 |
D.E. Shaw & Co
New York
|
+$127M |
| 5 |
Goldman Sachs
New York
|
+$106M |
Top Sellers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
JP Morgan Chase
New York
|
-$424M |
| 2 |
UBS AM
Chicago,
Illinois
|
-$258M |
| 3 |
BlackRock
New York
|
-$137M |
| 4 |
Boston Partners
Boston,
Massachusetts
|
-$94.4M |
| 5 |
T. Rowe Price Associates
Baltimore,
Maryland
|
-$89M |
NSC Hedge Fund Activity: Q2 2025 in Review
1,691 of the 7,595 institutional investors tracked by Wall St. Rank reported a position in Norfolk Southern (NSC) for Q2 2025, worth a combined $45.1B — up 9.3% from $41.3B a quarter earlier.
Buyers outnumbered sellers: 157 funds opened new NSC positions and 101 closed out — a net gain of 56 holders — while 532 added to existing stakes and 618 trimmed.
The largest buyer was Holocene Advisors, adding an estimated $196M. The largest seller was JP Morgan Chase, cutting an estimated $424M.
- 1,691 institutional investors held Norfolk Southern (NSC) as of Q2 2025, up from 1,653 in Q1 2025.
- Funds reported $45.1B of Norfolk Southern stock for Q2 2025, up 9.3% quarter-over-quarter.
- 157 funds opened new Norfolk Southern positions in Q2 2025 and 101 closed out, a net change of +56 holders.
- The largest Norfolk Southern buyer in Q2 2025 was Holocene Advisors, an estimated $196M added.
- The largest Norfolk Southern seller in Q2 2025 was JP Morgan Chase, an estimated $424M sold.
Based on aggregated 13F filings for Q2 2025.