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NSC · Norfolk Southern Corp · Holdings

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$330.50 +0.51 (+0.15%)
S&P 500 member Russell 1000 member Rebalance outlook locked
Market Cap
$74.12B
Shares
224.62M
Volume · Oct 23 1.1M Avg daily vol (3M) 1.07M

Institutional ownership from SEC Form 13F filings. Investment managers with more than $100 million in U.S. equities must disclose their positions every quarter, within 45 days of quarter-end, so the holdings shown can lag the market by up to a quarter.

Use institutional holdings through the 13F API or MCP → See every holder of NSC: 13F, 13D and 13G, insiders and funds →
Recent SEC filings are still being reconciled. Holder totals and changes may be incomplete until processing catches up.
The Sep 30, 2026 filing window is still open — showing the latest known positions. Funds that have not filed yet carry their prior-quarter positions; a fund that filed without this stock counts as sold out. Each fund's Change is measured against its own previous reported quarter, shown in the Reported column. Pick a completed quarter in the Quarter selector below to put every fund on one quarter and see the stock-wide activity breakdown.
Holders: 1,886
Total Value: $53,948,166,331
Total Shares: 171,652,925
Showing 1–100 of 1,921 holdings by value · page 1 of 20

Institutional Ownership Trend

27 quarters

Superinvestors Holding NSC

All superinvestors →
Daniel Loeb $188,754,000 Thomas Gayner $88,871,675 Joel Greenblatt $24,566,333

Holder Concentration

Across 1,874 13F filers
Top Holder
9.3%
Sep 2023 → Jun 2026 · range 9.0% – 12.0%
of institutional value
Top 5
31.1%
Sep 2023 → Jun 2026 · range 30.2% – 38.2%
of institutional value
Top 10
40.9%
Sep 2023 → Jun 2026 · range 40.7% – 52.2%
of institutional value
HHI
276
Sep 2023 → Jun 2026 · range 271 – 390
Broadly held

Who Holds NSC

Last 8 quarters through Sep 30, 2026 (filing window open)

Each kind of 13F filer's share of the common shares 13F filers report. Holder type comes from regulatory records, never the filer's name; style, turnover and horizon are measured from each filer's own 13F book. The quarter selector does not change this card.

Jun 30, 2026, the newest closed quarter: 1,872 filers, like-for-like change -0.3%; actively managed books -1.3%; index-like books +1.1%.

Holder type Share Filers Change
Registered adviser 46.2% 1,137 +0.8%
Exempt adviser 2.1% 14 +28.7%
Adviser 3.6% 24 -4.4%
Bank 15.0% 61 -2.7%
Insurer 0.8% 6 -1.9%
Broker-dealer 0.2% 2 +1.3%
Benefit plan 0.7% 11 +18.3%
Non-US 4.1% 23 +18.0%
Holding company 14.4% 14 -1.1%
Unknown 13.0% 580 -6.1%

The Sep 30, 2026 filing window is still open, so its bar carries the Jun 30, 2026 positions of filers that have not filed yet.

How the mix is measured

Shares are 13F common shares restated to today's split basis; options and principal amounts are left out. The change compares only filers with a 13F in both quarters and keeps each filer in its bucket of the later quarter on both sides; a filer that continues under a new CIK is compared through its successor. Holder type comes from each filer's current regulatory profile; client base and private funds come from the Form ADV roster current at each quarter end (rosters from December 2019, so an earlier quarter reads Unknown). Style, turnover, horizon and book size are measured from each filer's 13F book in the newest measured quarter, and Not measured means none was. Actively managed books are those measured systematic-like, concentrated or diversified active.

Excluded 20 holders with no observed 2026-03-31 13F and 22 holders with no observed 2026-06-30 13F. Compared across CIK changes: JANUS HENDERSON GROUP PLC continues as Jupiter Topco LLC.

Conviction and Crowding

1,872 13F filers, quarter ended Jun 30, 2026

Measured across every 13F filer's common-share book once the quarter's filing window closed. Crowding counts filers with high turnover or that advise private funds on Form ADV.

Conviction holders
59
3.15% of filers hold it in their top 10
Mar 31, 2026: 61
Holders above 5%
30
median weight 0.056%
Mar 31, 2026: 29
Crowding
21.7%
of shares outstanding, 63rd percentile
Mar 31, 2026: 22.9%
Private-fund advisers
20.1%
of shares outstanding
Institutional ownership
76.0%
76.0% of the estimated free float
Top 10 holders
41.0%
of 13F shares, Herfindahl 0.028
Active holders
-1.3%
like-for-like share change of active filers
5% stakes on record
2
0 13D, 2 13G (2 institutional, 0 passive, 0 exempt)
How long holders have held it value-weighted 16.4 quarters
Under 1 year 18.1% 1 to 3 years 25.2% 3 years or more 56.7% Since coverage start 0.000%

Managers in the top fifth by current three-year FundScore alpha were net sellers of $209,968 (0 buying, 1 selling).

Estimated Holder Cost Basis

Quarter ended Jun 30, 2026, on that quarter's share basis

Estimated, never filed: each 13F buy is costed at its quarter's average traded price and each sale keeps the average cost, so this is what holders paid on average if they traded evenly through each quarter.

Estimated avg cost
$283.70
estimated per share
Mar 31, 2026: $278.86
Quarter-end price
$314.43
implied by 13F values
Estimated gain or loss
+10.8%
price against the estimated cost
Estimated at a loss
0.000%
of costed 13F value

Estimated cost covers 19.0% of the 13F shares; positions already held when a filer's 13F history starts, or bought in a quarter without a trusted average price, have no estimate.

Shared Holders

Companies NSC's active holders also own, quarter ended Jun 30, 2026
# Company Shared holders
1 PG PROCTER & GAMBLE Co 606
2 CVX Chevron Corp 616
3 JNJ Johnson & Johnson 674
4 PEP Pepsico Inc 519
5 ABBV AbbVie Inc. 621
6 HD Home Depot, Inc. 604
7 CSCO Cisco Systems, Inc. 606
8 MRK Merck & Co., Inc. 571
9 RTX RTX Corp 523
10 JPM Jpmorgan Chase & Co 682

Shareholder Targets

13F filers that own its peers but not NSC, quarter ended Jun 30, 2026

Found through its holder-overlap peers: PG, CVX, JNJ, PEP, ABBV, HD, CSCO, MRK, RTX, JPM, KO, MCD, WMT, MSFT, XOM, AAPL, GOOGL, BRK-B, LLY, AMZN. 5,413 filers in all.

# Filer In peers
1 Capital Research Global Investors Adviser, Diversified active $200,175,592,037 20 held
2 Berkshire Hathaway Inc Insurer, Concentrated $150,208,527,191 4 held
3 LILLY ENDOWMENT INC Unknown, Unknown $108,400,867,760 1 held
4 Capital International Investors Adviser, Diversified active $95,557,909,197 19 held
5 STATE FARM MUTUAL AUTOMOBILE INSURANCE CO Insurer, Diversified active $54,950,859,214 14 held
6 MASSACHUSETTS FINANCIAL SERVICES CO /MA/ Registered adviser, Diversified active $49,429,579,617 19 held
7 Sanders Capital, LLC Registered adviser, Concentrated $29,940,811,555 9 held
8 Ensign Peak Advisors, Inc Unknown, Diversified active $17,702,078,789 18 held
9 T. Rowe Price Investment Management, Inc. Adviser, Diversified active $15,471,561,096 19 held
10 H&H International Investment, LLC Registered adviser, Concentrated $13,436,589,258 4 held

Fund Ownership of NSC by Fund Type

Registered funds' Form N-PORT reports for the quarter ended Jun 30, 2026

Index funds and index ETFs hold 18.07% of shares outstanding.

Fund type Of shares outstanding Shares
Index funds 3.91% 8,774,143
Index ETFs 14.16% 31,815,162
Active ETFs 0.57% 1,277,384
Active funds 5.27% 11,842,151
Unclassified 1.79% 4,031,044
All registered funds 25.71% 57,739,884
How fund types are measured

Each fund series counts once, with its latest Form N-PORT report dated inside the quarter; only long share positions count, restated to today's split basis. The fund type is the series' latest Form N-CEN answer on or before the quarter end (the index-fund box and the exchange-traded flag), never its name. Unclassified funds have no usable N-CEN; unit investment trusts are among them, so index ownership is a floor. Funds sit inside their advisers' 13F reports, so these shares overlap the 13F figures and are never added to them.

Holder type: Registered adviser 1,143 Exempt adviser 15 Adviser 25 Bank 61 Insurer 6 Broker-dealer 2 Benefit plan 11 Non-US 23 Holding company 14 Unknown 586
Showing 100 of 1,921
All Common Calls Puts
Export CSV
Holder Value (USD) % of 13F Shares Open
BlackRock, Inc. $5,033,548,839 9.33% 16,000,346
VANGUARD CAPITAL MANAGEMENT LLC $4,613,819,724 8.55% 14,666,136
STATE STREET CORP $3,222,287,800 5.97% 10,242,817
VANGUARD PORTFOLIO MANAGEMENT LLC $2,270,049,351 4.21% 7,215,898
MILLENNIUM MANAGEMENT LLC $1,636,411,611 3.03% 5,201,728
GEODE CAPITAL MANAGEMENT, LLC $1,608,900,715 2.98% 5,114,278
BANK OF AMERICA CORP /DE/ $978,977,022 1.81% 3,111,914
NORGES BANK $956,551,162 1.77% 3,040,628
Pentwater Capital Management LP $872,987,250 1.62% 2,775,000
NORTHERN TRUST CORP $822,465,980 1.52% 2,614,406
MORGAN STANLEY $821,704,352 1.52% 2,611,985
D. E. Shaw & Co., Inc. $818,312,136 1.52% 2,601,202
Dodge & Cox $789,031,987 1.46% 2,508,128
DIMENSIONAL FUND ADVISORS LP $710,882,482 1.32% 2,259,711
Capital World Investors $632,929,598 1.17% 2,011,919
PRICE T ROWE ASSOCIATES INC /MD/ $605,595,501 1.12% 1,925,031
GOLDMAN SACHS GROUP INC $594,243,834 1.10% 1,888,947
HBK INVESTMENTS L P $550,532,500 1.02% 1,750,000
ARROWSTREET CAPITAL, LIMITED PARTNERSHIP $544,885,294 1.01% 1,732,049
LONDON CO OF VIRGINIA $520,014,438 0.96% 1,652,991
Legal & General Group Plc $503,093,271 0.93% 1,599,203
CITADEL ADVISORS LLC $498,772,062 0.92% 1,585,467
Amundi $484,658,923 0.90% 1,540,605
AMERICAN CENTURY COMPANIES INC $480,142,672 0.89% 1,526,249
CHARLES SCHWAB INVESTMENT MANAGEMENT INC $466,667,210 0.87% 1,483,414
MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. $449,118,434 0.83% 1,427,631
FMR LLC $437,083,794 0.81% 1,389,376
JPMORGAN CHASE & CO $424,775,767 0.79% 1,350,252
Invesco Ltd. $423,564,282 0.79% 1,346,401
VANGUARD FIDUCIARY TRUST CO $396,694,844 0.74% 1,260,990
Fisher Asset Management, LLC $377,649,250 0.70% 1,200,449
Capital Wealth Planning, LLC $374,289,429 0.69% 1,189,769
Bank of New York Mellon Corp $364,413,811 0.68% 1,158,377
UBS AM, a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC $364,167,806 0.68% 1,157,595
DEUTSCHE BANK AG\ $356,558,188 0.66% 1,133,406
Balyasny Asset Management L.P. $349,563,914 0.65% 1,111,173
WELLS FARGO & COMPANY/MN $328,710,370 0.61% 1,044,885
CAXTON ASSOCIATES LLP $328,235,341 0.61% 1,043,375
PRIMECAP MANAGEMENT CO/CA/ $324,943,156 0.60% 1,032,910
UBS Group AG $316,053,784 0.59% 1,004,653
Qube Research & Technologies Ltd $281,635,124 0.52% 895,245
COHEN & STEERS, INC. $244,521,369 0.45% 777,270
ADAGE CAPITAL PARTNERS GP, L.L.C. $241,144,560 0.45% 766,536
Kryger Capital LLC $241,052,385 0.45% 766,243
Verition Fund Management LLC $238,688,241 0.44% 758,728
CITIGROUP INC $236,771,758 0.44% 752,636
HOTCHKIS & WILEY CAPITAL MANAGEMENT LLC $228,750,343 0.42% 727,138
LMR Partners LLP $227,100,947 0.42% 721,895
MARSHALL WACE, LLP $223,838,964 0.41% 711,526
Symmetry Investments LP $204,639,536 0.38% 650,496
TUDOR INVESTMENT CORP ET AL $203,585,345 0.38% 647,145
Swiss National Bank $199,210,971 0.37% 633,240
Nuveen, LLC $197,804,437 0.37% 628,769
Third Point LLC $188,754,000 0.35% 600,000
CANADA PENSION PLAN INVESTMENT BOARD $185,203,851 0.34% 588,715
AQR Arbitrage LLC $181,908,521 0.34% 578,240
ALLIANCEBERNSTEIN L.P. $181,529,755 0.34% 577,036
BANK OF NOVA SCOTIA $180,954,370 0.34% 575,207
CINCINNATI FINANCIAL CORP $180,664,947 0.33% 574,287
National Pension Service $172,412,307 0.32% 548,054
Mitsubishi UFJ Asset Management Co., Ltd. $170,926,499 0.32% 543,331
HSBC HOLDINGS PLC $162,694,304 0.30% 517,163
Westchester Capital Management, LLC $162,244,757 0.30% 515,734
FIL Ltd $157,660,868 0.29% 501,163
Sumitomo Mitsui Trust Group, Inc. $156,756,736 0.29% 498,289
Hudson Bay Capital Management LP $152,973,791 0.28% 486,264
Vanguard Global Advisers, LLC $152,189,833 0.28% 483,772
VANGUARD ASSET MANAGEMENT, Ltd $149,775,984 0.28% 476,099
ALPINE ASSOCIATES MANAGEMENT INC. $145,232,046 0.27% 461,655
Squarepoint Ops LLC $143,841,873 0.27% 457,236
SG Americas Securities, LLC $142,033,609 0.26% 451,488
ROYAL BANK OF CANADA $141,764,944 0.26% 450,634
California Public Employees Retirement System $135,923,957 0.25% 432,067
RHUMBLINE ADVISERS $132,189,145 0.25% 420,195
Laurion Capital Management LP $120,912,351 0.22% 384,349
DAVENPORT & Co LLC $115,551,477 0.21% 373,953
Sculptor Capital LP $115,269,865 0.21% 366,413
TWO SIGMA INVESTMENTS, LP $109,834,379 0.20% 349,135
PNC FINANCIAL SERVICES GROUP, INC. $109,474,487 0.20% 347,991
NEUBERGER BERMAN GROUP LLC $108,117,662 0.20% 343,678
CALIFORNIA STATE TEACHERS RETIREMENT SYSTEM $107,455,764 0.20% 341,574
Aberdeen Group plc $103,819,732 0.19% 330,016
RAYMOND JAMES FINANCIAL INC $103,811,238 0.19% 329,989
COMMONWEALTH OF PENNSYLVANIA PUBLIC SCHOOL EMPLS RETRMT SYS $101,288,227 0.19% 321,969
CIBC Bancorp USA Inc. $101,232,544 0.19% 321,792
BARCLAYS PLC $100,720,392 0.19% 320,164
TIG Advisors, LLC $99,570,251 0.18% 316,508
Rokos Capital Management LLP $98,992,349 0.18% 314,671
Fort Baker Capital Management LP $98,865,884 0.18% 314,269
BNP PARIBAS ARBITRAGE, SA $95,384,946 0.18% 303,204
HEALTHCARE OF ONTARIO PENSION PLAN TRUST FUND $92,518,402 0.17% 294,092
AMERIPRISE FINANCIAL INC $90,988,548 0.17% 289,229
Markel Group Inc. $88,871,675 0.16% 282,500
Empyrean Capital Partners, LP $88,022,282 0.16% 279,800
ING GROEP NV $87,103,050 0.16% 276,878
Magnetar Financial LLC $86,579,886 0.16% 275,215
HighTower Advisors, LLC $85,917,674 0.16% 273,110
LPL Financial LLC $85,617,870 0.16% 272,157
PRINCIPAL FINANCIAL GROUP INC $78,358,076 0.15% 249,080
NOMURA HOLDINGS INC $77,910,099 0.14% 247,656

Showing the top 100 of 1,921 holders. Create a free account to see every holder, past quarters, search, filters and CSV export.

Key facts CIK 702165 CUSIP 655844108 13F (30d) 548 filings 532 filers Visit website Investor relations