NORFOLK SOUTHERN CORP (NSC) — Institutional Holders, Q2 2026

1,875 institutional investment managers reported a NSC position on SEC Form 13F-HR for the quarter ended June 30, 2026, with a combined reported value of $53.5B. Every filer is listed below, ranked by position value, 100 per page; this page shows ranks 1 to 100. Put and call option positions are excluded, and a firm filing several lots or share classes is shown once with its total.

← NSC stock profile

NSC in Q2 2026: what funds did

Funds that filed a 13F for both Q1 2026 and Q2 2026, by what they did with the common stock. Share counts are adjusted for any split between the two quarters; dollar figures are the change in shares at this quarter’s price.

New positions

120

Added to

613

Trimmed

640

Sold out

Biggest buyers

VANGUARD PORTFOLIO MANAGEMENTAdded · +3,190,005 sh+$1.0B
BlackRockAdded · +724,235 sh+$227.8M
CAXTON ASSOCIATES LLPAdded · +705,249 sh+$221.9M
MILLENNIUM MANAGEMENTAdded · +617,642 sh+$194.3M
Third PointAdded · +500,000 sh+$157.3M

Biggest sellers

DODGE & COXTrimmed · -3,749,622 sh-$1.2B
CITADEL ADVISORSTrimmed · -1,034,915 sh-$325.6M
DZ BANK AG Deutsche Zentral Genossenschafts Bank, FrankfurtTrimmed · -777,910 sh-$244.7M
UBS Group AGTrimmed · -773,416 sh-$243.3M
AmundiTrimmed · -686,280 sh-$215.9M

NSC 13F holders ranked 1–100 of 1,875

Institutional investors reporting a position in NORFOLK SOUTHERN CORP on SEC Form 13F-HR for Q2 2026, ranked by reported value.
#	Institution	Shares	Value	% of portfolio	QoQShares vs Q1 2026
1	BlackRock#1 · 16,000,346 sh	16,000,346	$5.0B	0.07%	+4.7%
2	VANGUARD CAPITAL MANAGEMENT#2 · 14,666,136 sh	14,666,136	$4.6B	0.10%	+0.5%
3	STATE STREET#3 · 10,242,817 sh	10,242,817	$3.2B	0.10%	+4.2%
4	VANGUARD PORTFOLIO MANAGEMENT#4 · 7,215,898 sh	7,215,898	$2.3B	0.10%	+79.2%
5	MILLENNIUM MANAGEMENT#5 · 5,201,728 sh	5,201,728	$1.6B	0.59%	+13.5%
6	GEODE CAPITAL MANAGEMENT#6 · 5,114,278 sh	5,114,278	$1.6B	0.09%	+0.8%
7	BANK OF AMERICA#7 · 3,111,914 sh	3,111,914	$979.0M	0.06%	-2.8%
8	NORGES BANK#8 · 3,040,628 sh	3,040,628	$956.6M	0.10%	—
9	Pentwater Capital Management#9 · 2,775,000 sh	2,775,000	$873.0M	5.34%	-13.8%
10	NORTHERN#10 · 2,614,406 sh	2,614,406	$822.5M	0.10%	-0.9%
11	MORGAN STANLEY#11 · 2,611,985 sh	2,611,985	$821.7M	0.04%	-0.6%
12	D. E. Shaw#12 · 2,601,202 sh	2,601,202	$818.3M	0.39%	+14.9%
13	DODGE & COX#13 · 2,508,128 sh	2,508,128	$789.0M	0.41%	-59.9%
14	DIMENSIONAL FUND ADVISORS#14 · 2,259,711 sh	2,259,711	$710.9M	0.13%	0.0%
15	Capital World Investors#15 · 2,011,919 sh	2,011,919	$632.9M	0.07%	+0.3%
16	PRICE T ROWE ASSOCIATES#16 · 1,925,031 sh	1,925,031	$605.6M	0.06%	-9.6%
17	GOLDMAN SACHS GROUP#17 · 1,888,947 sh	1,888,947	$594.2M	0.05%	+16.2%
18	HBK INVESTMENTS L P#18 · 1,750,000 sh	1,750,000	$550.5M	5.38%	+0.8%
19	ARROWSTREET CAPITAL, LIMITED PARTNERSHIP#19 · 1,732,049 sh	1,732,049	$544.9M	0.24%	+6.5%
20	LONDON OF VIRGINIA#20 · 1,652,991 sh	1,652,991	$520.0M	2.97%	-2.8%
21	Legal & General Group Plc#21 · 1,599,203 sh	1,599,203	$503.1M	0.10%	-6.4%
22	CITADEL ADVISORS#22 · 1,585,467 sh	1,585,467	$498.8M	0.06%	-39.5%
23	Amundi#23 · 1,540,605 sh	1,540,605	$484.7M	0.12%	-30.8%
24	AMERICAN CENTURY COMPANIES#24 · 1,526,249 sh	1,526,249	$480.1M	0.21%	-24.8%
25	CHARLES SCHWAB INVESTMENT MANAGEMENT#25 · 1,483,414 sh	1,483,414	$466.7M	0.06%	+0.3%
26	MIRAE ASSET GLOBAL ETFS Ltd.#26 · 1,427,631 sh	1,427,631	$449.1M	0.54%	+8.6%
27	FMR#27 · 1,389,376 sh	1,389,376	$437.1M	0.02%	-23.7%
28	JPMORGAN CHASE#28 · 1,350,252 sh	1,350,252	$427.6M	0.02%	-17.0%
29	Invesco Ltd.#29 · 1,346,401 sh	1,346,401	$423.6M	0.03%	-23.8%
30	VANGUARD FIDUCIARY#30 · 1,260,990 sh	1,260,990	$396.7M	0.09%	-0.3%
31	Fisher Asset Management#31 · 1,200,449 sh	1,200,449	$377.6M	0.11%	+3.9%
32	Capital Wealth Planning#32 · 1,189,769 sh	1,189,769	$374.3M	1.87%	+32.4%
33	Bank of New York Mellon#33 · 1,158,377 sh	1,158,377	$364.4M	0.06%	-2.9%
34	UBS AM, a distinct business unit of UBS ASSET MANAGEMENT AME#34 · 1,157,595 sh	1,157,595	$364.2M	0.07%	+0.3%
35	DEUTSCHE BANK AG\#35 · 1,133,406 sh	1,133,406	$356.6M	0.10%	+61.2%
36	BALYASNY ASSET MANAGEMENT L.P.#36 · 1,111,173 sh	1,111,173	$349.6M	0.44%	-17.0%
37	WELLS FARGO & COMPANY#37 · 1,044,885 sh	1,044,885	$328.7M	0.05%	+0.1%
38	CAXTON ASSOCIATES LLP#38 · 1,043,375 sh	1,043,375	$328.2M	6.16%	+208.6%
39	PRIMECAP MANAGEMENT#39 · 1,032,910 sh	1,032,910	$324.9M	0.19%	0.0%
40	UBS Group AG#40 · 1,004,653 sh	1,004,653	$316.1M	0.04%	-43.5%
41	Qube Research & Technologies Ltd#41 · 895,245 sh	895,245	$281.6M	0.26%	-2.5%
42	COHEN & STEERS#42 · 777,270 sh	777,270	$244.5M	0.39%	+4.5%
43	ADAGE CAPITAL PARTNERS GP, L.L.C.#43 · 766,536 sh	766,536	$241.1M	0.34%	-10.2%
44	Kryger Capital#44 · 766,243 sh	766,243	$241.1M	13.75%	+44.5%
45	Verition Fund Management#45 · 758,728 sh	758,728	$238.7M	0.34%	+3.8%
46	CITIGROUP#46 · 752,636 sh	752,636	$236.8M	0.08%	+14.9%
47	HOTCHKIS & WILEY CAPITAL MANAGEMENT#47 · 727,138 sh	727,138	$228.8M	0.67%	-2.0%
48	LMR Partners LLP#48 · 721,895 sh	721,895	$227.1M	0.85%	+66.0%
49	MARSHALL WACE, LLP#49 · 711,526 sh	711,526	$223.8M	0.18%	+10.6%
50	Symmetry Investments#50 · 650,496 sh	650,496	$204.6M	13.84%	+319.8%
51	TUDOR INVESTMENT ET AL#51 · 647,145 sh	647,145	$203.6M	0.28%	+2.4%
52	Swiss National Bank#52 · 633,240 sh	633,240	$199.2M	0.10%	-3.8%
53	Nuveen#53 · 628,769 sh	628,769	$197.8M	0.05%	-6.0%
54	Third Point#54 · 600,000 sh	600,000	$188.8M	4.03%	+500.0%
55	CANADA PENSION PLAN INVESTMENT BOARD#55 · 588,715 sh	588,715	$185.2M	0.10%	+13.1%
56	BANK OF NOVA SCOTIA#56 · 575,207 sh	575,207	$181.0M	0.27%	-2.3%
57	AQR Arbitrage#57 · 578,240 sh	578,240	$180.9M	2.58%	+29.6%
58	CINCINNATI FINANCIAL#58 · 574,287 sh	574,287	$180.7M	3.45%	-2.3%
59	National Pension Service#59 · 548,054 sh	548,054	$172.4M	0.11%	+3.4%
60	Mitsubishi UFJ Asset Management , Ltd.#60 · 543,331 sh	543,331	$170.9M	0.09%	+6.7%
61	ALLIANCEBERNSTEIN L.P.#61 · 577,036 sh	577,036	$165.6M	0.05%	+1.0%
62	HSBC PLC#62 · 517,163 sh	517,163	$162.9M	0.07%	+15.4%
63	Westchester Capital Management#63 · 515,734 sh	515,734	$162.2M	7.94%	+2.8%
64	FIL Ltd#64 · 501,163 sh	501,163	$157.7M	0.11%	+2.1%
65	Sumitomo Mitsui#65 · 498,289 sh	498,289	$156.8M	0.09%	-1.1%
66	Hudson Bay Capital Management#66 · 486,264 sh	486,264	$153.0M	0.42%	+17.9%
67	Vanguard Global Advisers#67 · 483,772 sh	483,772	$152.2M	0.07%	-1.3%
68	VANGUARD ASSET MANAGEMENT, Ltd#68 · 476,099 sh	476,099	$149.8M	0.10%	+12.7%
69	ALPINE ASSOCIATES MANAGEMENT#69 · 461,655 sh	461,655	$145.2M	9.09%	-0.6%
70	Squarepoint Ops#70 · 457,236 sh	457,236	$143.8M	0.16%	-40.3%
71	SG Americas Securities#71 · 451,488 sh	451,488	$142.0M	0.08%	-1.8%
72	ROYAL BANK OF CANADA#72 · 450,634 sh	450,634	$141.8M	0.02%	+1.5%
73	DAVENPORT#73 · 445,588 sh	445,588	$140.4M	—	-1.2%
74	CALIFORNIA PUBLIC EMPLOYEES RETIREMENT SYSTEM#74 · 432,067 sh	432,067	$135.9M	0.08%	+3.9%
75	RHUMBLINE ADVISERS#75 · 420,195 sh	420,195	$132.2M	0.10%	-1.1%
76	Laurion Capital Management#76 · 384,349 sh	384,349	$120.9M	3.10%	+9.3%
77	Sculptor Capital#77 · 366,413 sh	366,413	$115.3M	0.94%	-44.3%
78	TWO SIGMA INVESTMENTS#78 · 349,135 sh	349,135	$109.8M	0.08%	+152.6%
79	PNC FINANCIAL SERVICES GROUP#79 · 347,991 sh	347,991	$109.5M	0.05%	-1.4%
80	Neuberger Berman Group#80 · 343,678 sh	343,678	$108.1M	0.07%	-39.3%
81	abrdn plc#81 · 330,016 sh	330,016	$103.8M	0.15%	+9.5%
82	RAYMOND JAMES FINANCIAL#82 · 329,989 sh	329,989	$103.8M	0.03%	-0.7%
83	COMMONWEALTH OF PENNSYLVANIA PUBLIC SCHOOL EMPLS RETRMT SYS#83 · 321,969 sh	321,969	$101.3M	0.49%	-9.0%
84	CIBC Bancorp USA#84 · 321,792 sh	321,792	$101.2M	0.12%	+267.8%
85	BARCLAYS PLC#85 · 320,164 sh	320,164	$100.7M	0.02%	-22.2%
86	TIG Advisors#86 · 316,508 sh	316,508	$99.6M	4.41%	-5.9%
87	Rokos Capital Management LLP#87 · 314,671 sh	314,671	$99.0M	0.37%	+130.6%
88	Fort Baker Capital Management#88 · 314,269 sh	314,269	$98.9M	7.23%	+80.0%
89	BNP PARIBAS FINANCIAL MARKETS#89 · 303,204 sh	303,204	$95.4M	0.03%	-4.5%
90	HEALTHCARE OF ONTARIO PENSION PLAN FUND#90 · 294,092 sh	294,092	$92.5M	0.13%	+123.7%
91	AMERIPRISE FINANCIAL#91 · 289,229 sh	289,229	$91.0M	0.02%	-2.1%
92	MARKEL GROUP#92 · 282,500 sh	282,500	$88.9M	0.68%	0.0%
93	Empyrean Capital Partners#93 · 279,800 sh	279,800	$88.0M	2.91%	-11.8%
94	ING GROEP NV#94 · 276,878 sh	276,878	$87.1M	0.43%	+23.5%
95	Magnetar Financial#95 · 275,215 sh	275,215	$86.6M	0.79%	0.0%
96	HighTower Advisors#96 · 273,110 sh	273,110	$85.9M	0.08%	-1.4%
97	LPL Financial#97 · 272,157 sh	272,157	$85.6M	0.02%	+1.3%
98	PRINCIPAL FINANCIAL GROUP#98 · 249,080 sh	249,080	$78.4M	0.04%	-6.2%
99	NOMURA#99 · 247,656 sh	247,656	$77.9M	0.09%	+2831.5%
100	ExodusPoint Capital Management#100 · 244,499 sh	244,499	$76.9M	0.50%	+52.9%

Funds that sold out of NSC in Q2 2026 (84)

Held NSC at the end of Q1 2026 and filed a Q2 2026 13F without it. Not in the list above, because they no longer hold it. Largest prior position first.

Institutions that held NSC in Q1 2026 and reported no position in Q2 2026.
Institution	Shares sold	Value in Q1 2026
HRT FINANCIAL143,299 sh	143,299	$41.1M
LEUCADIA NATIONAL138,093 sh	138,093	$39.6M
Zurich Insurance Group Ltd121,096 sh	121,096	$34.8M
OFI INVEST ASSET MANAGEMENT116,366 sh	116,366	$29.0M
Capricorn Fund Managers Ltd61,117 sh	61,117	$17.5M
SummitTX Capital, L.P.53,121 sh	53,121	$15.2M
DAVIDSON INVESTMENT ADVISORS54,976 sh	54,976	$13.0M
Running Oak Capital25,161 sh	25,161	$7.2M
Aventail Capital Group17,628 sh	17,628	$5.1M
Y-Intercept (Hong Kong) Ltd17,102 sh	17,102	$4.9M
Blue Sparrow15,000 sh	15,000	$4.3M
Entropy Technologies14,756 sh	14,756	$4.2M
OCCUDO QUANTITATIVE STRATEGIES12,502 sh	12,502	$3.9M
GSA CAPITAL PARTNERS LLP11,845 sh	11,845	$3.4M
Machina Capital S.A.S.11,737 sh	11,737	$3.4M
Trexquant Investment8,509 sh	8,509	$2.4M
Dynamic Technology Lab Private Ltd8,327 sh	8,327	$2.4M
Point72 Asset Management, L.P.8,254 sh	8,254	$2.4M
Diametric Capital8,004 sh	8,004	$2.3M
Farringdon Capital, Ltd.7,898 sh	7,898	$2.3M
BLUE JEAN FINANCIAL5,251 sh	5,251	$1.5M
CenterBook Partners5,046 sh	5,046	$1.4M
AIGEN INVESTMENT MANAGEMENT4,825 sh	4,825	$1.4M
BW Gestao de Investimentos Ltda.4,822 sh	4,822	$1.4M
PARADIGM ASSET MANAGEMENT3,600 sh	3,600	$1.0M
DARK FOREST CAPITAL MANAGEMENT3,238 sh	3,238	$929.3K
CAPSTONE INVESTMENT ADVISORS3,228 sh	3,228	$926.4K
Schrum Private Wealth Management2,950 sh	2,950	$846.6K
R Squared Ltd2,775 sh	2,775	$796.4K
Pitcairn Wealth Advisors2,602 sh	2,602	$751.3K
Factorial Partners2,570 sh	2,570	$737.6K
EVOKE WEALTH2,022 sh	2,022	$580.5K
Fieldview Capital Management1,698 sh	1,698	$487.3K
DRW Securities1,658 sh	1,658	$473.3K
Integrity Advisory Solutions1,632 sh	1,632	$468.4K
Oasis Advisors1,408 sh	1,408	$401.8K
TWIN CAPITAL MANAGEMENT1,387 sh	1,387	$398.1K
LRT Capital Management1,162 sh	1,162	$333.5K
CAPITAL COUNSEL1,140 sh	1,140	$327.2K
Tradewinds994 sh	994	$314.0K
BRISTOL JOHN W1,035 sh	1,035	$297.0K
SAPIENT CAPITAL971 sh	971	$278.7K
Walsky Investment Management918 sh	918	$263.5K
Garton & Associates Financial Advisors900 sh	900	$258.3K
Patriot Financial Group Insurance Agency872 sh	872	$250.4K
Stonebridge Capital Advisors836 sh	836	$239.9K
PATTON FUND MANAGEMENT829 sh	829	$237.9K
KMG FIDUCIARY PARTNERS828 sh	828	$237.8K
Orange Investment Advisors804 sh	804	$230.7K
WASHINGTON BANK750 sh	750	$215.3K
Wealth Dimensions Group, Ltd.725 sh	725	$208.1K
Frisch Financial Group699 sh	699	$200.6K
Wealth Preservation Advisors495 sh	495	$142.1K
Annis Gardner Whiting Capital Advisors435 sh	435	$124.8K
Clayton Financial Group378 sh	378	$108.5K
CURIO WEALTH314 sh	314	$90.1K
SIMPLEX TRADING266 sh	266	$76.3K
True Link Financial Advisors259 sh	259	$74.3K
Golden State Equity Partners218 sh	218	$62.6K
Migdal Insurance & Financial Ltd.194 sh	194	$55.7K
Evergreen Advisors188 sh	188	$53.9K
Wall Street Financial Group167 sh	167	$47.9K
TWIN PEAKS WEALTH ADVISORS144 sh	144	$41.3K
Kohmann Bosshard Financial Services131 sh	131	$37.6K
BALLAST ADVISORS125 sh	125	$35.9K
Team Financial Group100 sh	100	$28.7K
TIAA , NATIONAL ASSOCIATION100 sh	100	$28.7K
New Age Alpha Advisors82 sh	82	$23.5K
Timothy G. Youngquist 2020 Irrevocable79 sh	79	$22.7K
GROUP ONE TRADING, L.P.71 sh	71	$20.4K
Bayforest Capital Ltd65 sh	65	$18.7K
Destiny Wealth Partners60 sh	60	$17.2K
Scarborough Advisors22 sh	22	$6.3K
Whipplewood Advisors21 sh	21	$6.0K
Portus Wealth Advisors13 sh	13	$3.7K
CAPITAL & PLANNING12 sh	12	$3.4K
Security National Bank9 sh	9	$2.6K
GoalVest Advisory9 sh	9	$2.6K
Kennebec Savings Bank7 sh	7	$2.0K
Legacy Wealth Managment6 sh	6	$1.7K
BARD ASSOCIATES4 sh	4	$1.1K
TopTier Wealth Management3 sh	3	$861.00
Intentional Wealth Strategies2 sh	2	$574.00
Murphy & Mullick Capital Management1 sh	1	$287.00

Source: Form 13F-HR filings on SEC EDGAR, Q2 2026. Values are as reported by each manager at quarter end. “% of portfolio” is the position’s share of the manager’s total reported 13F value for the same quarter. “New” means the manager filed a 13F for Q1 2026 without this position; a dash means no comparison is available. Where a manager’s own filing is internally inconsistent its value is withheld and it is listed last. 13F data shows reported holdings, not recommendations.