NORTHERN TRUST CORP
Long book
$756.58B
Q1 2026
Positions
4396
Top-10 weight
28%
concentration
Last quarter
+14.3%
SPY +14.8%
Turnover
7%
of book per quarter
Strategy in plain words
auto-generated from filingsNORTHERN TRUST CORP is an index provider — its holdings mirror index composition mechanically, running a $756.58B US long book across 4396 positions.
The portfolio is moderately concentrated (top 10 ≈ 28% of the book). The book barely moves quarter to quarter — a patient, low-turnover holder. Current anchor positions: NVIDIA CORP, APPLE INC, MICROSOFT CORP, AMAZON.COM INC, ALPHABET INC-CL A.
Over the last 9 quarters its long book ran on average 0.2pp per quarter behind the S&P 500, beating the index in 3 of 9 quarters. Its holdings are mechanical (indexing / client flows), so position changes carry no stock-picking signal.
Implied long-book return vs S&P 500
methodology: positions priced quarterly, no shorts/options Fund long book S&P 500
Q1 2024
+3.1%
Q2 2024
+6.2%
Q3 2024
+1.7%
Q4 2024
-4.1%
Q1 2025
+10.2%
Q2 2025
+8.0%
Q3 2025
+2.5%
Q4 2025
-3.3%
Q1 2026
+14.3%
Sector allocation
Technology 38%
Financials 12%
Industrials 11%
Consumer discretionary 9%
Healthcare 9%
Services media 5%
Other 3%
Energy 3%
Long book by quarter
What does NORTHERN TRUST own?
Q1 2026 13F| Company | Sector | Shares | Value | % of book | Change |
|---|---|---|---|---|---|
| NVDA NVIDIA CORP | Technology | 252.7M | $44.08B | 5.8% | -0.4% |
| AAPL APPLE INC | Technology | 159.3M | $40.42B | 5.3% | -0.9% |
| MSFT MICROSOFT CORP | Technology | 79.7M | $29.50B | 3.9% | -0.1% |
| AMZN AMAZON.COM INC | Consumer discretionary | 95.1M | $19.81B | 2.6% | +0.4% |
| GOOGL ALPHABET INC-CL A | Technology | 65.0M | $18.69B | 2.5% | -0.2% |
| GOOG ALPHABET INC-CL C | Technology | 52.3M | $15.02B | 2.0% | -0.1% |
| AVGO BROADCOM INC | Technology | 47.6M | $14.74B | 1.9% | -0.2% |
| META META PLATFORMS INC-CLASS A | Technology | 22.0M | $12.58B | 1.7% | -0.7% |
| TSLA TESLA INC | Industrials | 25.7M | $9.54B | 1.3% | -0.6% |
| JPM JPMORGAN CHASE & CO | Financials | 31.2M | $9.18B | 1.2% | -1.4% |
| LLY ELI LILLY & CO | Healthcare | 8.8M | $8.12B | 1.1% | -0.1% |
| BRK/B BERKSHIRE HATHAWAY INC-CL B | Financials | 15.5M | $7.42B | 1.0% | -0.3% |
| XOM EXXON MOBIL CORP | Energy | 42.8M | $7.26B | 1.0% | -0.6% |
| JNJ JOHNSON & JOHNSON | Healthcare | 29.3M | $7.17B | 0.9% | +0.1% |
| V VISA INC-CLASS A SHARES | Services media | 17.7M | $5.33B | 0.7% | -1.0% |
| WMT WALMART INC | Consumer discretionary | 41.8M | $5.19B | 0.7% | +0.1% |
| COST COSTCO WHOLESALE CORP | Consumer discretionary | 4.9M | $4.91B | 0.6% | +0.3% |
| ABBV ABBVIE INC | Healthcare | 21.2M | $4.61B | 0.6% | -2.4% |
| MA MASTERCARD INC - A | Services media | 8.7M | $4.34B | 0.6% | -0.6% |
| CVX CHEVRON CORP | Energy | 20.3M | $4.20B | 0.6% | -2.5% |
| NFLX NETFLIX INC | Services media | 42.6M | $4.10B | 0.5% | -1.9% |
| CAT CATERPILLAR INC | Industrials | 5.7M | $4.02B | 0.5% | -2.9% |
| PG PROCTER & GAMBLE CO/THE | Other | 27.1M | $3.92B | 0.5% | -2.0% |
| HD HOME DEPOT INC | Consumer discretionary | 11.3M | $3.73B | 0.5% | -1.1% |
| CSCO CISCO SYSTEMS INC | Technology | 47.4M | $3.67B | 0.5% | +0.1% |
| MU MICRON TECHNOLOGY INC | Technology | 10.4M | $3.51B | 0.5% | -2.4% |
| AMD ADVANCED MICRO DEVICES | Technology | 16.4M | $3.34B | 0.4% | -1.1% |
| MRK MERCK & CO. INC. | Healthcare | 27.1M | $3.26B | 0.4% | -0.5% |
| BAC BANK OF AMERICA CORP | Financials | 63.1M | $3.08B | 0.4% | -2.2% |
| KO COCA-COLA CO/THE | Consumer staples | 40.2M | $3.06B | 0.4% | -0.6% |
| PLTR PALANTIR TECHNOLOGIES INC-A | Technology | 20.9M | $3.06B | 0.4% | +0.7% |
| LRCX LAM RESEARCH CORP | Industrials | 14.2M | $3.03B | 0.4% | -1.7% |
| AMAT APPLIED MATERIALS INC | Technology | 8.8M | $3.00B | 0.4% | -2.3% |
| ITW ILLINOIS TOOL WORKS | Industrials | 11.2M | $2.92B | 0.4% | -1.6% |
| GE GENERAL ELECTRIC | Industrials | 10.3M | $2.91B | 0.4% | +1.6% |
| ORCL ORACLE CORP | Technology | 18.8M | $2.77B | 0.4% | -1.0% |
| GS GOLDMAN SACHS GROUP INC | Financials | 3.2M | $2.67B | 0.4% | -0.6% |
| MCD MCDONALD'S CORP | Consumer discretionary | 8.2M | $2.56B | 0.3% | -0.4% |
| IBM INTL BUSINESS MACHINES CORP | Technology | 10.3M | $2.50B | 0.3% | +1.7% |
| WFC WELLS FARGO & CO | Financials | 31.3M | $2.49B | 0.3% | -1.9% |
| GEV GE VERNOVA INC | Industrials | 2.8M | $2.43B | 0.3% | -1.1% |
| PM PHILIP MORRIS INTERNATIONAL | Consumer staples | 14.4M | $2.39B | 0.3% | -0.1% |
| UNH UNITEDHEALTH GROUP INC | Financials | 8.8M | $2.38B | 0.3% | -0.8% |
| RTX RTX CORP | Industrials | 12.1M | $2.34B | 0.3% | -0.5% |
| KLAC KLA CORP | Other | 1.6M | $2.31B | 0.3% | -1.9% |
| PEP PEPSICO INC | Consumer staples | 14.9M | $2.31B | 0.3% | -0.9% |
| VZ VERIZON COMMUNICATIONS INC | Communications | 44.3M | $2.23B | 0.3% | -0.1% |
| LIN LINDE PLC | Materials | 4.5M | $2.22B | 0.3% | +0.1% |
| AMGN AMGEN INC | Healthcare | 6.2M | $2.19B | 0.3% | +0.6% |
| TJX TJX COMPANIES INC | Consumer discretionary | 13.6M | $2.18B | 0.3% | +1.2% |
13F filing history
| Period | Form | Filed | Entries | Reported value | Flags | Source |
|---|---|---|---|---|---|---|
| Q1 2026 | 13F-HR | May 14, 2026 | 19864 | $756.58B | canonical | SEC ↗ |
| Q4 2025 | 13F-HR | Feb 17, 2026 | 20753 | $784.38B | canonical | SEC ↗ |
| Q3 2025 | 13F-HR | Nov 14, 2025 | 20749 | $781.71B | canonical | SEC ↗ |
| Q2 2025 | 13F-HR | Aug 13, 2025 | 20680 | $727.16B | canonical | SEC ↗ |
| Q1 2025 | 13F-HR | May 13, 2025 | 21514 | $673.56B | canonical | SEC ↗ |
| Q4 2024 | 13F-HR | Feb 14, 2025 | 19353 | $706.24B | canonical | SEC ↗ |
| Q3 2024 | 13F-HR | Nov 13, 2024 | 13708 | $610.87B | canonical | SEC ↗ |
| Q2 2024 | 13F-HR | Aug 14, 2024 | 13644 | $593.48B | canonical | SEC ↗ |
| Q1 2024 | 13F-HR | May 14, 2024 | 13724 | $578.76B | canonical | SEC ↗ |
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