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Norfolk Southern
NSC

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.

New
Increased
Maintained
Reduced
Closed

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

Holders
1,691
Holders Change
+38
Holders Change %
+2.3%
% of All Funds
22.26%
Holding in Top 10
14
Holding in Top 10 Change
+2
Holding in Top 10 Change %
+16.67%
% of All Funds
0.18%
New
157
Increased
532
Reduced
618
Closed
101
Calls
$221M
Puts
$197M
Net Calls
+$23.9M
Net Calls Change
+$4.58M

Top Buyers

Rank Fund Capital Flow
1
Holocene Advisors
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
D.E. Shaw & Co
New York
+$127M
5
Goldman Sachs
Goldman Sachs
New York
+$106M

Top Sellers

Rank Fund Capital Flow
1
JP Morgan Chase
JP Morgan Chase
New York
-$424M
2
UBS AM
UBS AM
Illinois
-$258M
3
BlackRock
BlackRock
New York
-$137M
4
Boston Partners
Boston Partners
Massachusetts
-$94.4M
5
T. Rowe Price Associates
T. Rowe Price Associates
Maryland
-$89M
Name Holding Trade Value Shares
Change 		Change in
Stake
RA
1326
Rise Advisors
New York
$249K +$1.42K +6 +0.6%
MAM
1327
Marotta Asset Management
Virginia
$249K -$225K -955 -49%
CSA
1328
Cornerstone Select Advisors
Missouri
$249K – – –
OFP
1329
OLIO Financial Planning
Virginia
$248K +$229K +970 New
ACP
1330
Aviance Capital Partners
Florida
$246K – – –
WPA
1331
Wealth Preservation Advisors
Tennessee
$246K -$472 -2 -0.2%
NPT
1332
National Philanthropic Trust
Pennsylvania
$245K -$457K -1,936 -67%
MWPCG
1333
Measured Wealth Private Client Group
New Hampshire
$244K – – –
TCM
1334
Teza Capital Management
Illinois
$244K +$224K +952 New
HB
1335
Horizon Bancorp
Indiana
$243K -$9.43K -40 -4%
MA
1336
MCF Advisors
Kentucky
$243K – – –
CFS
1337
CRA Financial Services
New Jersey
$242K +$1.18K +5 +0.5%
CCWM
1338
Cassaday & Co Wealth Management
Virginia
$241K -$10.4K -44 -4%
NG
1339
Norden Group
Utah
$241K +$1.42K +6 +0.6%
ZF
1340
Zhang Financial
Michigan
$241K -$7.78K -33 -3%
NAM
1341
NTV Asset Management
West Virginia
$241K – – –
WS
1342
Wela Strategies
Georgia
$240K – – –
BPFA
1343
Barnes Pettey Financial Advisors
Mississippi
$239K – – –
CIG
1344
CHB Investment Group
Pennsylvania
$238K – – –
CFIA
1345
Cantor Fitzgerald Investment Advisors
New York
$237K – – –
MIA
1346
MeadowBrook Investment Advisors
Michigan
$237K – – –
RFP
1347
Root Financial Partners
California
$236K +$8.25K +35 +4%
HWA
1348
Heartwood Wealth Advisors
Virginia
$236K – – –
PFA
1349
Pure Financial Advisors
California
$235K +$217K +919 New
RCWM
1350
Royal Capital Wealth Management
Indiana
$234K – – –
52 53
54
55 56

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.