Norfolk Southern
1,837 hedge funds and large institutions have $48.2B invested in Norfolk Southern in 2026 Q1 according to their latest regulatory filings, with 131 funds opening new positions, 580 increasing their positions, 670 reducing their positions, and 112 closing their positions.
17% more first-time investments, than exits
New positions opened: 131 | Existing positions closed: 112
15% more funds holding in top 10
Funds holding in top 10: 48 → 55 (+7)
1% less funds holding
Funds holding: 1,850 → 1,837 (-13)
3% less capital invested
Capital invested by funds: $49.9B → $48.2B (-$1.74B)
2.26% less ownership
Funds ownership: 77.1% → 74.84% (-2.3%)
13% less repeat investments, than reductions
Existing positions increased: 580 | Existing positions reduced: 670
19% less call options, than puts
Call options by funds: $178M | Put options by funds: $221M
Top Buyers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
CWP
Capital Wealth Planning
Naples,
Florida
|
+$267M |
| 2 |
Qube Research & Technologies (QRT)
London,
United Kingdom
|
+$219M |
| 3 |
UBS Group
Zurich,
Switzerland
|
+$216M |
| 4 |
Amundi
Paris,
France
|
+$129M |
| 5 |
Millennium Management
New York
|
+$129M |
Top Sellers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
Dodge & Cox
San Francisco,
California
|
-$1B |
| 2 |
JP Morgan Chase
New York
|
-$277M |
| 3 |
TP
Third Point
New York
|
-$260M |
| 4 |
T. Rowe Price Associates
Baltimore,
Maryland
|
-$193M |
| 5 |
Toronto Dominion Bank
Toronto, Ontario,
Ontario, Canada
|
-$149M |
NSC Hedge Fund Activity: Q1 2026 in Review
1,837 of the 8,172 institutional investors tracked by Wall St. Rank reported a position in Norfolk Southern (NSC) for Q1 2026, worth a combined $48.2B — down 3.5% from $49.9B a quarter earlier.
Buyers outnumbered sellers: 131 funds opened new NSC positions and 112 closed out — a net gain of 19 holders — while 580 added to existing stakes and 670 trimmed.
The largest buyer was Capital Wealth Planning, opening a new position worth an estimated $267M. The largest seller was Dodge & Cox, cutting an estimated $1B.
- 1,837 institutional investors held Norfolk Southern (NSC) as of Q1 2026, down from 1,850 in Q4 2025.
- Funds reported $48.2B of Norfolk Southern stock for Q1 2026, down 3.5% quarter-over-quarter.
- 131 funds opened new Norfolk Southern positions in Q1 2026 and 112 closed out, a net change of +19 holders.
- The largest Norfolk Southern buyer in Q1 2026 was Capital Wealth Planning, an estimated $267M added.
- The largest Norfolk Southern seller in Q1 2026 was Dodge & Cox, an estimated $1B sold.
Based on aggregated 13F filings for Q1 2026.