NSC Institutional Ownership
Norfolk Southern Corporation
1W: +4.4%
1M: +8.5%
3M: +1.6%
YTD: +18.6%
1Y: +21.7%
3Y: +77.2%
5Y: +35.5%
$339.74
+5.75 (+1.72%)
After Hours: $336.74 (-3.00, -0.88%)
Weekly Expected Move ±2.7%
$312
$321
$330
$339
$348
Credit Risk of going bust: lower than 87% of companies Debt: 18.1% of company value Bonds: $155.1M held by 272 funds, 80 bp over Treasuries → details ▾
Of US companies ranked in the safest four tenths, about 1 in 3,500 filed for bankruptcy within a year (2020-2025).
If the stock fell to about $3.70 (down 99%), Norfolk Southern Corporation would be worth roughly what it owes.
Total debt $16.61B against a stock market value of $75.02B.
Distance to default 12.16 (Merton model): prices to 2026-10-26, balance sheet 2026-09-30, debt counted $8.63B (short-term plus half of long-term), stock volatility 20.9%; Altman Z'' 2.17. A ranking and a back-test, not a forecast.
Bond figures are fund-reported marks (SEC N-PORT) as of Jul 2026. How these are computed.
If the stock fell to about $3.70 (down 99%), Norfolk Southern Corporation would be worth roughly what it owes.
Total debt $16.61B against a stock market value of $75.02B.
Distance to default 12.16 (Merton model): prices to 2026-10-26, balance sheet 2026-09-30, debt counted $8.63B (short-term plus half of long-term), stock volatility 20.9%; Altman Z'' 2.17. A ranking and a back-test, not a forecast.
Bond figures are fund-reported marks (SEC N-PORT) as of Jul 2026. How these are computed.
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Institutional Ownership — NSC
1,964
Institutional Holders
+3 vs prior quarter
0.0%
Ownership
+0.00pp
$53B
Total Invested
140
New Positions
611
Increased
728
Reduced
85
Closed
1.00
Put/Call Ratio
Ownership Trends
Top Institutional Holders (845 total)
| # | Holder | Shares | Value | Change | Change % | Holding Period | Filing |
|---|---|---|---|---|---|---|---|
| 1 | CALIFORNIA STATE TEACHERS RETIREMENT S | 107,455,765 | $36.5B | +107,144,045 | +34371.9% | 2Q | SEC ↗ |
| 2 | STATE STREET CORP NEW | 10,242,817 | $3.5B | +10,242,817 | — | 1Q | SEC ↗ |
| 3 | DODGE & COX NEW | 2,508,128 | $852M | +2,508,128 | — | 1Q | SEC ↗ |
| 4 | GOLDMAN SACHS GROUP INC NEW | 1,888,947 | $642M | +1,888,947 | — | 1Q | SEC ↗ |
| 5 | ARROWSTREET CAPITAL, LIMITED PARTNERSH NEW | 1,732,049 | $588M | +1,732,049 | — | 1Q | SEC ↗ |
| 6 | CITADEL ADVISORS LLC NEW | 1,585,467 | $539M | +1,585,467 | — | 1Q | SEC ↗ |
| 7 | WELLS FARGO & COMPANY/MN NEW | 1,043,477 | $355M | +1,043,477 | — | 1Q | SEC ↗ |
| 8 | PRIMECAP MANAGEMENT CO/CA/ NEW | 1,032,910 | $351M | +1,032,910 | — | 1Q | SEC ↗ |
| 9 | MARSHALL WACE, LLP NEW | 711,526 | $242M | +711,526 | — | 1Q | SEC ↗ |
| 10 | Third Point LLC NEW | 600,000 | $204M | +600,000 | — | 1Q | SEC ↗ |
| 11 | BANK OF NOVA SCOTIA NEW | 575,207 | $195M | +575,207 | — | 1Q | SEC ↗ |
| 12 | HSBC HOLDINGS PLC | 517,163 | $176M | +512,417 | +10796.8% | 27Q | SEC ↗ |
| 13 | DAVENPORT & Co LLC | 373,953 | $127M | -71,635 | -16.1% | 3Q | SEC ↗ |
| 14 | Sculptor Capital LP | 366,413 | $124M | -292,000 | -44.3% | 2Q | SEC ↗ |
| 15 | COMMONWEALTH OF PENNSYLVANIA PUBLIC SC | 321,969 | $109M | -31,760 | -9.0% | 2Q | SEC ↗ |
| 16 | AMERIPRISE FINANCIAL INC NEW | 295,360 | $100M | +295,360 | — | 1Q | SEC ↗ |
| 17 | MARKEL GROUP INC. | 282,500 | $96M | -224,500 | -44.3% | 2Q | SEC ↗ |
| 18 | PRINCIPAL FINANCIAL GROUP INC NEW | 249,080 | $85M | +249,080 | — | 1Q | SEC ↗ |
| 19 | NEW YORK STATE COMMON RETIREMENT FUND NEW | 229,920 | $78M | +229,920 | — | 1Q | SEC ↗ |
| 20 | ENVESTNET ASSET MANAGEMENT INC NEW | 226,821 | $77M | +226,821 | — | 1Q | SEC ↗ |
| 21 | Assenagon Asset Management S.A. NEW | 191,873 | $65M | +191,873 | — | 1Q | SEC ↗ |
| 22 | STATE BOARD OF ADMINISTRATION OF FLORI NEW | 187,828 | $64M | +187,828 | — | 1Q | SEC ↗ |
| 23 | Man Group plc NEW | 178,433 | $61M | +178,433 | — | 1Q | SEC ↗ |
| 24 | Robeco Institutional Asset Management NEW | 158,720 | $54M | +158,720 | — | 1Q | SEC ↗ |
| 25 | MANUFACTURERS LIFE INSURANCE COMPANY, | 149,918 | $51M | -3,220 | -2.1% | 2Q | SEC ↗ |
| 26 | M&T BANK CORP NEW | 140,405 | $48M | +140,405 | — | 1Q | SEC ↗ |
| 27 | Schonfeld Strategic Advisors LLC NEW | 140,110 | $48M | +140,110 | — | 1Q | SEC ↗ |
| 28 | TORONTO DOMINION BANK NEW | 136,864 | $46M | +136,864 | — | 1Q | SEC ↗ |
| 29 | BOUSSARD & GAVAUDAN GESTION SAS NEW | 135,885 | $46M | +135,885 | — | 1Q | SEC ↗ |
| 30 | Baird Financial Group, Inc. NEW | 125,095 | $42M | +125,095 | — | 1Q | SEC ↗ |
| 31 | Handelsbanken Fonder AB NEW | 123,304 | $42M | +123,304 | — | 1Q | SEC ↗ |
| 32 | Carnegie Investment Counsel | 120,754 | $41M | -2,940 | -2.4% | 3Q | SEC ↗ |
| 33 | Ascentis Wealth Management, LLC NEW | 105,316 | $36M | +105,316 | — | 1Q | SEC ↗ |
| 34 | Allianz Asset Management GmbH NEW | 96,951 | $33M | +96,951 | — | 1Q | SEC ↗ |
| 35 | Walleye Capital LLC NEW | 96,000 | $33M | +96,000 | — | 1Q | SEC ↗ |
| 36 | PSquared Asset Management AG NEW | 95,704 | $33M | +95,704 | — | 1Q | SEC ↗ |
| 37 | Alberta Investment Management Corp NEW | 93,000 | $32M | +93,000 | — | 1Q | SEC ↗ |
| 38 | NISA INVESTMENT ADVISORS, LLC NEW | 92,951 | $32M | +92,951 | — | 1Q | SEC ↗ |
| 39 | WATERS PARKERSON & CO., LLC NEW | 88,170 | $30M | +88,170 | — | 1Q | SEC ↗ |
| 40 | PUBLIC EMPLOYEES RETIREMENT SYSTEM OF NEW | 86,455 | $29M | +86,455 | — | 1Q | SEC ↗ |
| 41 | Mariner, LLC | 85,700 | $29M | -58,231 | -40.5% | 2Q | SEC ↗ |
| 42 | Greenland Capital Management LP NEW | 83,140 | $28M | +83,140 | — | 1Q | SEC ↗ |
| 43 | Corient Private Wealth LP NEW | 81,428 | $28M | +81,428 | — | 1Q | SEC ↗ |
| 44 | CAISSE DE DEPOT ET PLACEMENT DU QUEBEC | 68,047 | $23M | +20,887 | +44.3% | 2Q | SEC ↗ |
| 45 | MERCER GLOBAL ADVISORS INC /ADV NEW | 67,341 | $23M | +67,341 | — | 1Q | SEC ↗ |
| 46 | BARTLETT & CO. WEALTH MANAGEMENT LLC | 67,123 | $23M | +9 | +0.0% | 2Q | SEC ↗ |
| 47 | Czech National Bank NEW | 63,928 | $22M | +63,928 | — | 1Q | SEC ↗ |
| 48 | Skylands Capital, LLC NEW | 57,730 | $20M | +57,730 | — | 1Q | SEC ↗ |
| 49 | STATE OF MICHIGAN RETIREMENT SYSTEM NEW | 57,490 | $20M | +57,490 | — | 1Q | SEC ↗ |
| 50 | GABELLI FUNDS LLC NEW | 54,862 | $19M | +54,862 | — | 1Q | SEC ↗ |
Recent Activity
New Positions (20)
| Holder | Shares | Value |
|---|---|---|
| STATE STREET CORP | 10,242,817 | $3.5B |
| DODGE & COX | 2,508,128 | $852M |
| GOLDMAN SACHS GROUP INC | 1,888,947 | $642M |
| ARROWSTREET CAPITAL, LIMITED PARTNE | 1,732,049 | $588M |
| CITADEL ADVISORS LLC | 1,585,467 | $539M |
| WELLS FARGO & COMPANY/MN | 1,043,477 | $355M |
| PRIMECAP MANAGEMENT CO/CA/ | 1,032,910 | $351M |
| MARSHALL WACE, LLP | 711,526 | $242M |
| Third Point LLC | 600,000 | $204M |
| BANK OF NOVA SCOTIA | 575,207 | $195M |
| AMERIPRISE FINANCIAL INC | 295,360 | $100M |
| PRINCIPAL FINANCIAL GROUP INC | 249,080 | $85M |
| NEW YORK STATE COMMON RETIREMENT FU | 229,920 | $78M |
| ENVESTNET ASSET MANAGEMENT INC | 226,821 | $77M |
| Assenagon Asset Management S.A. | 191,873 | $65M |
| STATE BOARD OF ADMINISTRATION OF FL | 187,828 | $64M |
| Man Group plc | 178,433 | $61M |
| Robeco Institutional Asset Manageme | 158,720 | $54M |
| M&T BANK CORP | 140,405 | $48M |
| Schonfeld Strategic Advisors LLC | 140,110 | $48M |
Sold Out (0)
No sold-out positions this quarter.
Biggest Increases (20)
| Holder | Added | Change % | Total Shares |
|---|---|---|---|
| CALIFORNIA STATE TEACHERS RETIREMEN | +107,144,045 | +34371.9% | 107,455,765 |
| HSBC HOLDINGS PLC | +512,886 | +12607.8% | 516,954 |
| Mariner, LLC | +27,692 | +57.7% | 75,669 |
| CAISSE DE DEPOT ET PLACEMENT DU QUE | +20,887 | +44.3% | 68,047 |
| Ausbil Investment Management Ltd | +9,965 | +35.6% | 37,991 |
| OLD SECOND NATIONAL BANK OF AURORA | +9,925 | +3507.1% | 10,208 |
| BOKF, NA | +8,119 | +515.8% | 9,693 |
| Patten Group, Inc. | +7,400 | +7254.9% | 7,502 |
| HM PAYSON & CO | +7,246 | +1262.4% | 7,820 |
| STOCK YARDS BANK & TRUST CO | +6,131 | +185.8% | 9,431 |
| Wedmont Private Capital | +4,017 | +93.9% | 8,296 |
| Fisher Funds Management LTD | +4,000 | +45.0% | 12,885 |
| Krilogy Financial LLC | +3,869 | +87.4% | 8,294 |
| Texas Bank & Trust Co | +3,785 | +3785.0% | 3,885 |
| First PREMIER Bank | +3,532 | +1503.0% | 3,767 |
| SHAYNE & JACOBS, LLC | +3,446 | +6892.0% | 3,496 |
| UNIVEST FINANCIAL Corp | +2,881 | +164.4% | 4,633 |
| Parkside Financial Bank & Trust | +2,414 | +701.7% | 2,758 |
| Farther Finance Advisors, LLC | +2,185 | +13.2% | 18,765 |
| GATEWAY INVESTMENT ADVISERS LLC | +2,129 | +32.9% | 8,606 |
Biggest Decreases (20)
| Holder | Reduced | Change % | Total Shares |
|---|---|---|---|
| Sculptor Capital LP | -292,000 | -44.3% | 366,413 |
| MARKEL GROUP INC. | -224,500 | -88.6% | 29,000 |
| Merit Financial Group, LLC | -99,456 | -88.0% | 13,624 |
| Mariner, LLC | -85,923 | -89.5% | 10,031 |
| DAVENPORT & Co LLC | -71,635 | -16.1% | 373,953 |
| COMMONWEALTH OF PENNSYLVANIA PUBLIC | -31,760 | -9.0% | 321,969 |
| 1ST SOURCE BANK | -25,077 | -49.7% | 25,389 |
| Somerset Trust Co | -18,242 | -50.6% | 17,816 |
| B. Riley Wealth Advisors, Inc. | -7,099 | -86.6% | 1,098 |
| Columbia Bank | -5,597 | -99.1% | 50 |
| TCV Trust & Wealth Management, Inc. | -5,461 | -25.5% | 15,947 |
| CITIZENS FINANCIAL GROUP INC/RI | -3,564 | -45.2% | 4,314 |
| MANUFACTURERS LIFE INSURANCE COMPAN | -3,220 | -2.1% | 149,918 |
| Carnegie Investment Counsel | -2,940 | -2.4% | 120,754 |
| United Bank | -2,751 | -39.2% | 4,264 |
| Cohen Klingenstein LLC | -2,627 | -7.4% | 32,873 |
| SIGNATURE ESTATE & INVESTMENT ADVIS | -2,493 | -47.3% | 2,783 |
| HARBOUR INVESTMENT MANAGEMENT LLC | -1,762 | -65.3% | 935 |
| BAXTER BROS INC | -1,705 | -9.8% | 15,705 |
| EASTERN BANK | -1,581 | -47.2% | 1,771 |