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Norfolk Southern
NSC

1,856 hedge funds and large institutions have $53.5B invested in Norfolk Southern in 2026 Q2 according to their latest regulatory filings, with 134 funds opening new positions, 610 increasing their positions, 633 reducing their positions, and 84 closing their positions.

New
Increased
Maintained
Reduced
Closed

60% more first-time investments, than exits

New positions opened: 134 | Existing positions closed: 84

11% more capital invested

Capital invested by funds: $48.2B → $53.5B (+$5.33B)

1% more funds holding

Funds holding: 1,837 → 1,856 (+19)

0.97% more ownership

Funds ownership: 74.84% → 75.8% (+0.97%)

4% less repeat investments, than reductions

Existing positions increased: 610 | Existing positions reduced: 633

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

Holders
1,856
Holders Change
+19
Holders Change %
+1.03%
% of All Funds
22.42%
Holding in Top 10
53
Holding in Top 10 Change
-2
Holding in Top 10 Change %
-3.64%
% of All Funds
0.64%
New
134
Increased
610
Reduced
633
Closed
84
Calls
$145M
Puts
$172M
Net Calls
-$27.3M
Net Calls Change
+$15.4M

Top Buyers

Rank Fund Capital Flow
1
Vanguard Portfolio Management
Vanguard Portfolio Management
Pennsylvania
+$984M
2
BlackRock
BlackRock
New York
+$223M
3
CAU
Caxton Associates (UK)
+$217M
4
Millennium Management
Millennium Management
New York
+$190M
5
TP
Third Point
New York
+$154M

Top Sellers

Rank Fund Capital Flow
1
Dodge & Cox
Dodge & Cox
California
-$1.16B
2
Citadel Advisors
Citadel Advisors
Florida
-$319M
3
DZ Bank
DZ Bank
Germany
-$240M
4
UBS Group
UBS Group
Switzerland
-$238M
5
Amundi
Amundi
France
-$212M
Name Holding Trade Value Shares
Change 		Change in
Stake
NEWAS
1826
N.E.W. Advisory Services
Wisconsin
$2.52K +$2.47K +8 New
CJ
1827
Caitlin John
Michigan
$2.39K – – –
BCV
1828
Banque Cantonale Vaudoise
Switzerland
$2.38K -$416K -1,349 -15%
CIAS
1829
CBIZ Investment Advisory Services
Ohio
$2.3K – – –
BIM
1830
Breakwater Investment Management
Washington
$2.2K – – –
1CP
1831
1015 Capital Partners
Pennsylvania
$2.2K – – –
CAC
1832
Core Alternative Capital
Georgia
$2.2K – – –
STB
1833
S&T Bank
Pennsylvania
$2.2K – – –
BWS
1834
Buck Wealth Strategies
Colorado
$2.2K +$2.16K +7 New
EC
1835
Elequin Capital
New York
$1.89K – – –
MWM
1836
Mascoma Wealth Management
New Hampshire
$1.89K – – –
DCM
1837
Davis Capital Management
Florida
$1.89K +$1.23K +4 +200%
WWM
1838
Wolff Wiese Magana
California
$1.57K – – –
EWP
1839
Elevation Wealth Partners
California
$1.26K – – –
IPS
1840
Investors Portfolio Services
Washington
$1.26K – – –
MBFW
1841
Morton Brown Family Wealth
Pennsylvania
$1.26K +$1.23K +4 New
NWM
1842
Navigoe Wealth Management
California
$1K +$1.23K +4 New
PJC
1843
Phillip James Consulting
Minnesota
$944 – – –
SRCM
1844
Signature Resources Capital Management
California
$944 – – –
RCM
1845
Raleigh Capital Management
North Carolina
$673 – – –
HHGA
1846
Halbert Hargrove Global Advisors
California
$641 +$617 +2 New
DF
1847
DecisionPoint Financial
Arizona
$638 +$617 +2 New
FGP
1848
Freestone Grove Partners
California
$629 – – –
IAS
1849
IMA Advisory Services
Colorado
$629 – – –
T
1850
Tidemark
California
$629 – – –
72 73
74
75 76

NSC Hedge Fund Activity: Q2 2026 in Review

1,856 of the 8,279 institutional investors tracked by Wall St. Rank reported a position in Norfolk Southern (NSC) for Q2 2026, worth a combined $53.5B — up 11% from $48.2B a quarter earlier.

Buyers outnumbered sellers: 134 funds opened new NSC positions and 84 closed out — a net gain of 50 holders — while 610 added to existing stakes and 633 trimmed.

The largest buyer was Vanguard Portfolio Management, adding an estimated $984M. The largest seller was Dodge & Cox, cutting an estimated $1.16B.

  • 1,856 institutional investors held Norfolk Southern (NSC) as of Q2 2026, up from 1,837 in Q1 2026.
  • Funds reported $53.5B of Norfolk Southern stock for Q2 2026, up 11% quarter-over-quarter.
  • 134 funds opened new Norfolk Southern positions in Q2 2026 and 84 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.