Northern Trust

NTRS • NASDAQ

Northern Trust is a asset management company in the financial services sector on NASDAQ, led by Michael G. O'Grady, with a market cap of $26.5B. As of Q3 2025, 83% of shares are held by 840 institutional investors, with VANGUARD GROUP INC as the largest holder at 11.69%.

CEOMichael G. O'Grady

Market Cap$26.5B

Asset Management

Financial Services

Employees23.1K

Websitenortherntrust.com

Country

United States of America

Overview

Overview of institutional ownership in NTRS as of Q3 2025 with a market cap of $25.7B

All Institutions

Institutions: 840
Value Held: $21.4B
Shares Held: 158.6M
Avg Position: $25.5M
Median Position: $809.8K

Hedge Funds

Hedge Funds: 51
Value Held: $707.7M
Shares Held: 5.3M
Avg Position: $13.9M
Median Position: $3.6M

Ownership Breakdown

Institutional (non-HF)

80.7%

$20.7B

Hedge Funds

2.76%

$707.7M

Retail & Other

16.54%

$4.2B

Based on market cap of $25.7B as of Q3 2025. Institutional (non-HF) excludes hedge funds to avoid double counting.

Biggest Investors

Institutions with the largest positions in NTRS as of Q3 2025

Institution	Key People	Position Value	Ownership	Owned Since	Total AUM (Long)
VANGUARD GROUP INC Institution	Salim Ramji CEO	$3.0B 0.04% of portfolio	11.69% 22.3M shares	≤ Q2 2013 Held for 12y 5m+	$6.69T
FMR LLC Institution	-	$2.1B 0.11% of portfolio	8.22% 15.7M shares	≤ Q2 2013 Held for 12y 5m+	$1.92T
B BlackRock, Inc. Institution	-	$2.0B 0.04% of portfolio	7.81% 14.9M shares	≤ Q2 2013 Held for 12y 5m+	$5.67T
STATE STREET CORP Institution	Ronald P. O'Hanley CEO	$1.3B 0.04% of portfolio	4.98% 9.5M shares	≤ Q2 2013 Held for 12y 5m+	$2.88T
PRIMECAP MANAGEMENT CO/CA/ Long Only Manager	Mohammed Mohsin Ansari Chairman	$1.0B 0.79% of portfolio	3.96% 7.5M shares	Q1 2016 Held for 9y 8m	$128.84B
MASSACHUSETTS FINANCIAL SERVICES CO /MA/ Long Only Manager	Edward Murray Maloney CEO	$837.9M 0.26% of portfolio	3.26% 6.2M shares	Q1 2015 Held for 10y 8m	$322.72B
NORTHERN TRUST CORP Institution	Michael G. O'Grady CEO	$778.8M 0.10% of portfolio	3.03% 5.8M shares	≤ Q2 2013 Held for 12y 5m+	$782.01B
GEODE CAPITAL MANAGEMENT LLC ETF Provider	David Kenneth Lane CEO	$679.7M 0.04% of portfolio	2.66% 5.1M shares	≤ Q2 2013 Held for 12y 5m+	$1.57T
S STATE FARM MUTUAL AUTOMOBILE INSURANCE CO Institution	-	$557.9M 0.47% of portfolio	2.17% 4.1M shares	≤ Q2 2013 Held for 12y 5m+	$119.95B
Invesco Ltd. ETF Provider	Brian Christopher Hartigan CEO	$463.9M 0.07% of portfolio	1.81% 3.4M shares	≤ Q2 2013 Held for 12y 5m+	$633.08B

Net Capital Flow

Institutional buying and selling activity for NTRS in Q3 2025

Traded: −$426.7M
Buyers: 375
Sellers: 346
Total Bought: +$1.2B
Total Sold: −$1.6B
Avg Position: $23.8M

Biggest Buyers

Institution	Net Bought	Current Position
PRUDENTIAL FINANCIAL INC Institution	+$93.6M +695.2K shares	$111.6M 829.4K shares
GOLDMAN SACHS GROUP INC Institution	+$83.4M +619.8K shares	$367.9M 2.7M shares
JUPITER ASSET MANAGEMENT LTD Long Only Manager	+$64.9M +481.9K shares	$64.9M 481.9K shares
R Rakuten Investment Management, Inc. Institution	+$61.9M +51.3K shares	$83.6M 69.3K shares
MORGAN STANLEY RIA/Wealth	+$58.7M +435.8K shares	$398.7M 3.0M shares
AQR CAPITAL MANAGEMENT LLC Hedge Fund•Multi-Strategy	+$54.9M +409.4K shares	$136.7M 1.0M shares
BARCLAYS PLC Institution	+$53.9M +400.2K shares	$140.3M 1.0M shares
MILLENNIUM MANAGEMENT LLC Hedge Fund•Multi-Strategy	+$49.4M +367.1K shares	$57.5M 426.9K shares
PANAGORA ASSET MANAGEMENT INC Hedge Fund•Quant	+$48.5M +360.6K shares	$87.5M 649.9K shares
R ROYAL BANK OF CANADA Institution	+$33.3M +247.6K shares	$94.5M 702.4K shares

Biggest Sellers

Institution	Net Sold	Current Position
FMR LLC Institution	−$231.9M −1.7M shares	$2.1B 15.7M shares
JPMORGAN CHASE & CO Institution	−$206.5M −1.5M shares	$156.0M 1.2M shares
MASSACHUSETTS FINANCIAL SERVICES CO /MA/ Long Only Manager	−$133.2M −989.4K shares	$837.9M 6.2M shares
Marshall Wace LLP Institution	−$74.1M −550.5K shares	$14.3M 106.6K shares
R Rokos Capital Management LLP Hedge Fund•Global Macro	−$73.9M −582.6K shares	Sold Off 0 shares
UBS GLOBAL ASSET MANAGEMENT AMERICAS INC Long Only Manager	−$55.9M −415.5K shares	$213.1M 1.6M shares
A AMERICAN CENTURY COMPANIES INC Institution	−$49.3M −366.6K shares	$340.1M 2.5M shares
WELLINGTON MANAGEMENT CO LLP Long Only Manager	−$48.1M −357.6K shares	$288.3M 2.1M shares
$DEUTSCHE BANK AG\ logo$ DEUTSCHE BANK AG\ Institution	−$47.6M −353.3K shares	$101.5M 754.4K shares
ARROWSTREET CAPITAL LIMITED PARTNERSHIP Hedge Fund•Quant	−$45.0M −334.6K shares	$4.8M 35.9K shares

Entry and Exit Activity

Institutions that initiated new positions or completely exited NTRS in Q3 2025

New Positions: 49
New Value: $29.1M
Exited Positions: 61
Exited Value: $151.7M

New Positions

Institution	Position Value
Cambria Investment Management, L.P. ETF Provider	$9.4M 69.7K shares
L La Banque Postale Asset Management SA Institution	$3.8M 28.4K shares
D L CARLSON INVESTMENT GROUP INC RIA/Wealth	$3.4M 25.5K shares
J. Safra Sarasin Holding AG Fund of Funds	$2.6M 19.0K shares
Jain Global LLC Hedge Fund•Multi-Strategy	$1.9M 14.2K shares
Catalytic Wealth RIA, LLC RIA/Wealth	$857.4K 6.4K shares
Krilogy Financial LLC RIA/Wealth	$637.2K 5.0K shares
Precision Wealth Strategies, LLC RIA/Wealth	$612.7K 4.6K shares
Retireful, LLC ETF Provider	$581.2K 4.3K shares
Trueblood Wealth Management, LLC RIA/Wealth	$573.3K 4.3K shares

Exited Positions

Institution	Previous Position
R Rokos Capital Management LLP Hedge Fund•Global Macro	$73.9M 582.6K shares
T Twin Tree Management, LP Hedge Fund•Vol Arbitrage	$17.9M 141.1K shares
Governors Lane LP Hedge Fund•Event Driven	$8.2M 64.5K shares
Holocene Advisors, LP Hedge Fund•Long/Short	$5.7M 44.8K shares
M Mubadala Investment Co PJSC Institution	$5.0M 39.3K shares
A Andra AP-fonden Institution	$4.4M 34.4K shares
A AXA Institution	$3.9M 30.9K shares
AlphaStar Capital Management, LLC RIA/Wealth	$3.1M 24.1K shares
F Fisher Funds Management LTD Institution	$2.9M 22.8K shares
G Glaxis Capital Management, LLC Hedge Fund•Global Macro	$2.5M 20.0K shares

Options Activity

Institutions with the largest Call and Put options positions in NTRS as of Q3 2025

Call Positions: 15
Call Value: $350.4M
Put Positions: 14
Put Value: $32.2M

Call Positions

Institution	Position Value
MILLENNIUM MANAGEMENT LLC Hedge Fund•Multi-Strategy	$272.2M 20.2K contracts
SUSQUEHANNA INTERNATIONAL GROUP, LLP Private Equity	$28.8M 2.1K contracts
Walleye Trading LLC RIA/Wealth	$21.6M 1.6K contracts
T Twin Tree Management, LP Hedge Fund•Vol Arbitrage	$7.8M 580.0 contracts
W WOLVERINE TRADING, LLC Institution	$5.3M 399.0 contracts
CITADEL ADVISORS LLC Hedge Fund•Multi-Strategy	$3.9M 287.0 contracts
TUDOR INVESTMENT CORP ET AL Hedge Fund•Multi-Strategy	$3.6M 269.0 contracts
J JANE STREET GROUP, LLC Institution	$2.4M 179.0 contracts
Caption Management, LLC Hedge Fund•Long/Short	$2.4M 175.0 contracts
S Squarepoint Ops LLC Hedge Fund•Quant	$996.0K 74.0 contracts

Put Positions

Institution	Position Value
CITADEL ADVISORS LLC Hedge Fund•Multi-Strategy	$9.8M 727.0 contracts
SUSQUEHANNA INTERNATIONAL GROUP, LLP Private Equity	$7.8M 579.0 contracts
Walleye Trading LLC RIA/Wealth	$2.9M 219.0 contracts
B Bayview Asset Management, LLC Hedge Fund•Multi-Strategy	$2.7M 200.0 contracts
W WOLVERINE TRADING, LLC Institution	$2.3M 175.0 contracts
MILLENNIUM MANAGEMENT LLC Hedge Fund•Multi-Strategy	$1.8M 136.0 contracts
R RMB Capital Management, LLC RIA/Wealth	$1.3M - contracts
J JANE STREET GROUP, LLC Institution	$1.2M 91.0 contracts
TUDOR INVESTMENT CORP ET AL Hedge Fund•Multi-Strategy	$1.2M 89.0 contracts
Walleye Trading Advisors, LLC Hedge Fund•Multi-Strategy	$592.2K 44.0 contracts

Most Committed Institutions

Institutions with NTRS as the highest % of their portfolio as of Q3 2025

Institution	Key People	Portfolio Weight	Ownership	Owned Since	Total AUM (Long)
R RNC CAPITAL MANAGEMENT LLC RIA/Wealth	Daniel John Genter CEO	3.55% $76.9M	0.30% 571.3K shares	Q1 2025 Held for 8 months	$2.2B
C CONTINENTAL ADVISORS LLC Hedge Fund•Long/Short	David Philip Purcell Managing Partner	2.76% $4.1M	0.02% 30.3K shares	Q2 2023 Held for 2y 5m	$148.0M
W WILKINS INVESTMENT COUNSEL INC RIA/Wealth	John Parker Wilkins Chairman	2.75% $19.4M	0.08% 144.2K shares	≤ Q2 2013 Held for 12y 5m+	$706.1M
Andrew Hill Investment Advisors, Inc. RIA/Wealth	Andrew D.W. Hill President	2.24% $2.9M	0.01% 21.4K shares	Q2 2025 Held for 5 months	$128.5M
CONFLUENCE INVESTMENT MANAGEMENT LLC Long Only Manager	Mark Alan Keller CEO	2.24% $155.8M	0.61% 1.2M shares	Q4 2013 Held for 11y 11m	$6.9B
NUANCE INVESTMENTS, LLC Long Only Manager	Paul Trowbridge Gillespie President	1.93% $18.9M	0.07% 140.5K shares	≤ Q2 2013 Held for 12y 5m+	$982.1M
ARIEL INVESTMENTS, LLC Long Only Manager	Mellody Louise Hobson Lucas CEO	1.85% $172.9M	0.67% 1.3M shares	≤ Q2 2013 Held for 12y 5m+	$9.4B
SPEECE THORSON CAPITAL GROUP INC Long Only Manager	Matthew Jeremy Weight Director	1.85% $9.2M	0.04% 68.7K shares	≤ Q2 2013 Held for 12y 5m+	$500.5M
Marble Harbor Investment Counsel, LLC RIA/Wealth	Paul Robert Davis CIO	1.69% $16.1M	0.06% 119.5K shares	≤ Q2 2013 Held for 12y 5m+	$954.0M
H Horizon Investment Services, LLC RIA/Wealth	Charles Brian Carlson CEO	1.54% $4.1M	0.02% 30.2K shares	Q4 2024 Held for 11 months	$264.9M

Hedge Fund Spotlight

Discover hedge funds investing in NTRS

Hudson Bay Capital Management LP

Hedge Fund • Multi-Strategy

Portfolio ManagerSander Ross Gerber

Portfolio Value: $14.7B
Positions: 892
Last Reported: Q3 2025

Sector Allocation

Position in Northern Trust

Market Value: $9.8M
Shares Held: 73.0K
Portfolio Weight: 0.07%
Owned Since: 2025-Q2

Top Holding	Sector	Market Value	Weight
1 Nvidia NVDA	Semiconductors Technology	$1.1B	7.58%
2 Amazon AMZN	Specialty Retail Consumer Cyclical	$977.3M	6.66%
3 Tesla, Inc. TSLA	Auto - Manufacturers Consumer Cyclical	$787.6M	5.37%