NSC
Norfolk Southern Corporation · Industrials · Railroads
Momentum inputs (comparable managers):
holder breadth -10.0% ·
share flow +8.6% ·
net new positions -11.1%
· formula
Concentrated accumulation: rising shares among fewer holders
All ownership figures: tracked 13F managers only, common-stock positions, reporting period Q1 2025
| Quarter | Holders | Δ | Shares | Reported value | New | Exits |
|---|---|---|---|---|---|---|
| Q2 2026 | 162 | -3 | 123.39M | $38.78B | +3 | −7 |
| Q1 2026 | 169 | 0 | 127.59M | $36.59B | +4 | −5 |
| Q4 2025 | 168 | +1 | 141.04M | $40.67B | +2 | n/a |
| Q3 2025 | 25 | 0 | 94.93M | $28.51B | +1 | −2 |
| Q2 2025 | 23 | +2 | 84.92M | $21.73B | +2 | n/a |
| Q1 2025 | 18 | -2 | 44.46M | $10.52B | n/a | −2 |
| Q4 2024 | 20 | 0 | 40.95M | $9.61B | n/a | n/a |
| Q3 2024 | 19 | 0 | 31.01M | $7.70B | +1 | −1 |
| Q2 2024 | 19 | n/a | 28.82M | $6.18B | n/a | n/a |
| # | Manager | Shares | Δ shares | Value | Their weight | Held | ||
|---|---|---|---|---|---|---|---|---|
| 1 | T. Rowe Price ✦ | 11.32M | +31.5% | $2.68B | 0.3% | ▲ Add | 4 | SEC ↗ ×3 |
| 2 | Dodge & Cox ✦ | 10.67M | -0.2% | $2.53B | 1.4% | ▼ Trim | 4 | SEC ↗ |
| 3 | State Street Global Advisors ✦ (passive) | 9.46M | +0.2% | $2.24B | 0.1% | ▲ Add | 2 | SEC ↗ |
| 4 | Geode Capital Management ✦ (passive) | 4.79M | +1.9% | $1.13B | 0.1% | ▲ Add | 4 | SEC ↗ ×2 |
| 5 | Norges Bank ✦ (passive) | 2.37M | +1.5% | $560.96M | 0.1% | ▲ Add | 4 | SEC ↗ |
| 6 | Capital World Investors ✦ | 1.63M | +0.2% | $386.34M | 0.1% | ▲ Add | 4 | SEC ↗ |
| 7 | Fisher Asset Management ✦ | 982.48K | +0.8% | $232.70M | 0.1% | ▲ Add | 4 | SEC ↗ |
| 8 | Adage Capital Partners ✦ | 789.95K | +341.9% | $187.10M | 0.3% | ▲ Add | 4 | SEC ↗ |
| 9 | Arrowstreet Capital ✦ | 782.00K | +118.6% | $185.22M | 0.1% | ▲ Add | 4 | SEC ↗ |
| 10 | PRIMECAP Management ✦ | 704.92K | +4.7% | $166.96M | 0.1% | ▲ Add | 4 | SEC ↗ |
| 11 | Marshall Wace ✦ | 411.93K | +61.2% | $97.56M | 0.1% | ▲ Add | 4 | SEC ↗ ×2 |
| 12 | Markel Group ✦ | 229.50K | 0.0% | $54.36M | 0.5% | Held | 4 | SEC ↗ ×2 |
| 13 | AQR Capital Management ✦ | 165.49K | +171.5% | $38.65M | 0.0% | ▲ Add | 4 | SEC ↗ ×6 |
| 14 | Citadel Advisors ✦ | 54.87K | -30.2% | $13.00M | 0.0% | ▼ Trim | 4 | SEC ↗ ×2 |
| 15 | Two Sigma Investments ✦ | 45.29K | +78.5% | $10.73M | 0.0% | ▲ Add | 4 | SEC ↗ |
| 16 | Millennium Management ✦ | 29.09K | -90.3% | $6.89M | 0.0% | ▼ Trim | 4 | SEC ↗ |
| 17 | Wellington Management ✦ | 27.59K | +15.5% | $6.53M | 0.0% | ▲ Add | 4 | SEC ↗ ×2 |
| 18 | Gotham Asset Management ✦ | 2.60K | -51.5% | $614,626 | 0.0% | ▼ Trim | 4 | SEC ↗ |
“Their weight” = the position's share of that manager's reported 13F equity value: the conviction measure. ✦ = curated manager.
New buyers
| No new tracked buyers this quarter. |
Exited
| D. E. Shaw & Co. | $63.63M | was 0.1% |
| Renaissance Technologies | $30.04M | was 0.0% |
Full-market context: across ALL 13F filers (SEC structured data, Q1 2026): 1,815 holders, 166.34M shares, $46.19B reported. This is a different, older period than the tracked-universe figures above and the two are never mixed.
What else this security's tracked holders most often hold: shared-ownership counts, not fundamental relationships.