Ranked by reported Q1 2026 13F market value
Share of total reported institutional value in NSC held by the largest 10 / 25 filers.
| # | Institution | Shares Held | Market Value | QoQ Change | Ownership % | % of Fund |
|---|---|---|---|---|---|---|
| 1 | BlackRock, Inc. | 15.3M | $4.38B | +2.5% | 6.802% | 0.08% |
| 2 | VANGUARD CAPITAL MANAGEMENT LLC | 14.6M | $4.19B | β | 6.495% | 0.10% |
| 3 | STATE STREET CORP | 9.8M | $2.82B | +1.3% | 4.379% | 0.10% |
| 4 | DODGE & COX | 6.3M | $1.80B | -35.0% | 2.787% | 0.99% |
| 5 | GEODE CAPITAL MANAGEMENT, LLC | 5.1M | $1.45B | +4.1% | 2.260% | 0.09% |
| 6 | VANGUARD PORTFOLIO MANAGEMENT LLC | 4.0M | $1.16B | β | 1.793% | 0.06% |
| 7 | Pentwater Capital Management LP | 3.3M | $953.8M | +10.1% | 1.480% | 4.96% |
| 8 | BANK OF AMERICA CORP /DE/ | 3.2M | $918.7M | -0.9% | 1.425% | 0.07% |
| 9 | CITADEL ADVISORS LLC | 2.7M | $769.6M | +1.0% | 1.194% | 0.36% |
| 10 | NORTHERN TRUST CORP | 2.6M | $757.0M | -2.0% | 1.175% | 0.10% |
| 11 | MORGAN STANLEY | 2.6M | $754.1M | -0.1% | 1.170% | 0.05% |
| 12 | D. E. Shaw & Co., Inc. | 2.3M | $649.6M | -0.7% | 1.008% | 0.61% |
| 13 | DIMENSIONAL FUND ADVISORS LP | 2.3M | $648.4M | +2.1% | 1.006% | 0.13% |
| 14 | Amundi | 2.2M | $639.1M | +24.2% | 0.992% | 0.17% |
| 15 | UBS Group AG | 2.1M | $594.4M | +57.8% | 0.922% | 0.09% |
| 16 | AMERICAN CENTURY COMPANIES INC | 2.0M | $582.3M | 0.0% | 0.903% | 0.30% |
| 17 | Capital World Investors | 2.0M | $575.9M | +14.8% | 0.894% | 0.08% |
| 18 | FMR LLC | 1.8M | $522.5M | +1.2% | 0.811% | 0.03% |
| 19 | Invesco Ltd. | 1.8M | $507.2M | +13.5% | 0.787% | 0.08% |
| 20 | HBK INVESTMENTS L P | 1.7M | $498.3M | -18.5% | 0.773% | 6.48% |
| 21 | Legal & General Group Plc | 1.7M | $490.6M | -1.5% | 0.761% | 0.11% |
| 22 | LONDON CO OF VIRGINIA | 1.7M | $488.0M | -6.1% | 0.757% | 3.01% |
| 23 | GOLDMAN SACHS GROUP INC | 1.6M | $470.0M | -6.1% | 0.729% | 0.05% |
| 24 | ARROWSTREET CAPITAL, LIMITED PARTNERSHIP | 1.6M | $466.9M | +11.0% | 0.724% | 0.25% |
| 25 | CHARLES SCHWAB INVESTMENT MANAGEMENT INC | 1.5M | $424.4M | +2.0% | 0.658% | 0.06% |
denotes a marquee investor (Buffett, Burry, ARK, Tiger Global, Pershing Square, Baupost and other widely-followed managers). β% of Fundβ shows how much of that investorβs total 13F portfolio is invested in NSC β a direct measure of their conviction.
Filings activity in NSC during Q1 2026, grouped by how each filer changed its position.
Institutions that opened a new NSC position in Q1 2026
Institutions that fully closed their NSC position in Q1 2026
8 quarters of 13F filings Β· Ξ columns show change vs prior quarter
| Quarter | Inst. Holders | Ξ Holders | Ownership % | Ξ Ownership | Total 13F Value | Ξ Value |
|---|---|---|---|---|---|---|
| Q1 2026 | 1,797 | 0.7% | 63.01% | 5.19 pp | $44.42B | 7.6% |
| Q4 2025 | 1,809 | +3.3% | 68.20% | 0.35 pp | $48.08B | 0.5% |
| Q3 2025 | 1,752 | +5.3% | 68.55% | +11.49 pp | $48.33B | +20% |
| Q2 2025 | 1,664 | +3.3% | 57.06% | +0.75 pp | $40.23B | +1.3% |
| Q1 2025 | 1,611 | 1.0% | 56.31% | +3.59 pp | $39.70B | +6.8% |
| Q4 2024 | 1,628 | +4.3% | 52.72% | 0.75 pp | $37.17B | 1.4% |
| Q3 2024 | 1,561 | +3.4% | 53.47% | 0.72 pp | $37.69B | 1.3% |
| Q2 2024 | 1,509 | β | 54.19% | β | $38.20B | β |
Source: SEC 13F institutional filings. Ownership % requires market cap data and will show once linked. Ξ columns compare to the immediately prior filed quarter.
Quick answers to the most common questions about buying NSC stock.
Based on Q1 2026 13F filings, institutional ownership of Norfolk Southern Corporation stands at 63.0%, held across 1,797 reporting institutions.
BlackRock, Inc. is the largest reported institutional holder of NSC, with approximately 15,276,111 shares worth $4.38B as of Q1 2026.
Yes β 1 widely-followed marquee investor appear among the top 25 institutional holders of NSC, including CITADEL ADVISORS LLC.
Our composite Smart Money Score for NSC is 34 out of 100 (Bearish). It combines net institutional buying activity, ownership shift, marquee investor presence, and holder-count growth.
160 institutions opened new positions in NSC during Q1 2026, while 172 fully exited. 478 added to existing positions and 1,151 trimmed.
NSC institutional ownership fell by 5.19 percentage points quarter-over-quarter, with a net change of -12 holders.
The top 10 institutions account for 43.2% of all reported 13F value in NSC, and the top 25 account for 61.9%.
All data is sourced from SEC Form 13F filings, which institutional investment managers with at least $100M in assets are required to file each quarter. We process every 13F filing from EDGAR and recompute the aggregates after each cycle. Insider transactions are sourced from Form 4 filings.
Norfolk Southern Corporation (NSC) Institutional Ownership