Norfolk Southern
1,653 hedge funds and large institutions have $41.3B invested in Norfolk Southern in 2025 Q1 according to their latest regulatory filings, with 104 funds opening new positions, 558 increasing their positions, 593 reducing their positions, and 106 closing their positions.
12% more call options, than puts
Call options by funds: $177M | Put options by funds: $158M
0% more funds holding in top 10
Funds holding in top 10: 12 → 12 (0)
0.09% less ownership
Funds ownership: 77.13% → 77.04% (-0.09%)
2% less first-time investments, than exits
New positions opened: 104 | Existing positions closed: 106
4% less capital invested
Capital invested by funds: $43.1B → $41.3B (-$1.8B)
6% less repeat investments, than reductions
Existing positions increased: 558 | Existing positions reduced: 593
2% less funds holding
Funds holding: 1,683 → 1,653 (-30)
Top Buyers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
T. Rowe Price Associates
Baltimore,
Maryland
|
+$661M |
| 2 |
Fidelity Investments
Boston,
Massachusetts
|
+$247M |
| 3 |
Adage Capital Partners
Boston,
Massachusetts
|
+$149M |
| 4 |
PF
Phoenix Financial
Givatayim,
Israel
|
+$113M |
| 5 |
Arrowstreet Capital
Boston,
Massachusetts
|
+$103M |
Top Sellers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
Lazard Asset Management
New York
|
-$323M |
| 2 |
Stifel Financial
St. Louis,
Missouri
|
-$251M |
| 3 |
Neuberger Berman Group
New York
|
-$175M |
| 4 |
Amundi
Paris,
France
|
-$157M |
| 5 |
Deutsche Bank
Frankfurt Am Main Ge,
Germany
|
-$124M |
NSC Hedge Fund Activity: Q1 2025 in Review
1,653 of the 7,458 institutional investors tracked by Wall St. Rank reported a position in Norfolk Southern (NSC) for Q1 2025, worth a combined $41.3B — down 4.2% from $43.1B a quarter earlier.
Sellers outnumbered buyers: 106 funds closed out of NSC and 104 opened new positions — a net loss of 2 holders — while 593 trimmed existing stakes and 558 added.
The largest buyer was T. Rowe Price Associates, adding an estimated $661M. The largest seller was Lazard Asset Management, cutting an estimated $323M.
- 1,653 institutional investors held Norfolk Southern (NSC) as of Q1 2025, down from 1,683 in Q4 2024.
- Funds reported $41.3B of Norfolk Southern stock for Q1 2025, down 4.2% quarter-over-quarter.
- 104 funds opened new Norfolk Southern positions in Q1 2025 and 106 closed out, a net change of -2 holders.
- The largest Norfolk Southern buyer in Q1 2025 was T. Rowe Price Associates, an estimated $661M added.
- The largest Norfolk Southern seller in Q1 2025 was Lazard Asset Management, an estimated $323M sold.
Based on aggregated 13F filings for Q1 2025.