Norfolk Southern
1,583 hedge funds and large institutions have $40.7B invested in Norfolk Southern in 2023 Q4 according to their latest regulatory filings, with 257 funds opening new positions, 434 increasing their positions, 566 reducing their positions, and 96 closing their positions.
168% more first-time investments, than exits
New positions opened: 257 | Existing positions closed: 96
62% more funds holding in top 10
Funds holding in top 10: 13 → 21 (+8)
23% more capital invested
Capital invested by funds: $33.1B → $40.7B (+$7.55B)
10% more funds holding
Funds holding: 1,442 → 1,583 (+141)
2.12% more ownership
Funds ownership: 74.02% → 76.14% (+2.1%)
12% less call options, than puts
Call options by funds: $285M | Put options by funds: $325M
23% less repeat investments, than reductions
Existing positions increased: 434 | Existing positions reduced: 566
Top Buyers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
Morgan Stanley
New York
|
+$502M |
| 2 |
Dodge & Cox
San Francisco,
California
|
+$379M |
| 3 |
EIG
EdgePoint Investment Group
Toronto,
Ontario, Canada
|
+$356M |
| 4 |
Stifel Financial
St. Louis,
Missouri
|
+$183M |
| 5 |
Mitsubishi UFJ Trust & Banking
Tokyo,
Japan
|
+$130M |
Top Sellers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
Capital World Investors
Los Angeles,
California
|
-$301M |
| 2 |
BlackRock
New York
|
-$193M |
| 3 |
Lazard Asset Management
New York
|
-$162M |
| 4 |
Two Sigma Investments
New York
|
-$80.6M |
| 5 |
Two Sigma Advisers
New York
|
-$64.7M |
NSC Hedge Fund Activity: Q4 2023 in Review
1,583 of the 6,859 institutional investors tracked by Wall St. Rank reported a position in Norfolk Southern (NSC) for Q4 2023, worth a combined $40.7B — up 23% from $33.1B a quarter earlier.
Buyers outnumbered sellers: 257 funds opened new NSC positions and 96 closed out — a net gain of 161 holders — while 434 added to existing stakes and 566 trimmed.
The largest buyer was Morgan Stanley, adding an estimated $502M. The largest seller was Capital World Investors, cutting an estimated $301M.
- 1,583 institutional investors held Norfolk Southern (NSC) as of Q4 2023, up from 1,442 in Q3 2023.
- Funds reported $40.7B of Norfolk Southern stock for Q4 2023, up 23% quarter-over-quarter.
- 257 funds opened new Norfolk Southern positions in Q4 2023 and 96 closed out, a net change of +161 holders.
- The largest Norfolk Southern buyer in Q4 2023 was Morgan Stanley, an estimated $502M added.
- The largest Norfolk Southern seller in Q4 2023 was Capital World Investors, an estimated $301M sold.
Based on aggregated 13F filings for Q4 2023.