NORTHERN TRUST CORP

CIK 0000073124 · Q1 2026

13F Equity AUM

$756.6B

-3.5% QoQ

Positions

3,718

-27 QoQ

AUM Rank

#31

Top 0.2%

Skill Alpha (FF)

-0.2%/yr^ns

No Clear Edge

Rank #2,552 · Top 31%

vs S&P -2.4%/yr (unadj.)

Quarters Tracked

~13 years

Portfolio Concentration

Top 5: 20.2%Top 10: 28.2%Top 20: 36.8%

NVDA5.8%

AAPL5.3%

MSFT3.9%

AMZN2.6%

GOOGL2.5%

GOOG2.0%

AVGO1.9%

META1.7%

TSLA1.3%

JPM1.2%

Others (3708)71.8%

HHI (Herfindahl-Hirschman Index) measures portfolio concentration. Low (<1500) = diversified, Moderate (1500-2500), High (>2500) = concentrated bets.

Position Sizing

Positions: 3718Median: 0.00%Avg: 0.03%

0–0.5%

3692(59.9%)

0.5–1%

14(9.6%)

1–3%

9(15.4%)

3–5%

1(3.9%)

5%+

2(11.2%)

Count of positions per weight bucket — (%) = combined portfolio weight

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Portfolio Overlap

Shared: 3,693Unique: 25vs 20 funds

50.4%High

3,718

Fund positions

7,299

Consensus CUSIPs

Jaccard similarity of this fund’s portfolio vs the consensus of top 20 funds by AUM. Low (<15%) = contrarian, Moderate (15-40%), High (>40%) = follows the crowd.

Most Similar Funds

Top 9 benchmark funds with highest portfolio overlap (Jaccard similarity)

BlackRock, Inc.

81.6%

MORGAN STANLEY

60.5%

GEODE CAPITAL MANAGEMENT, LLC

80.4%

BANK OF AMERICA CORP /DE/

59%

STATE STREET CORP

77.9%

VANGUARD CAPITAL MANAGEMENT LLC

77.9%

JPMORGAN CHASE & CO

50.4%

VANGUARD PORTFOLIO MANAGEMENT LLC

74.8%

FMR LLC

57.8%

Jaccard similarity per fund: shared CUSIPs / (fund A + fund B − shared). Higher values indicate more similar portfolios.

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Position Changes This Quarter

New131Increased2707Decreased1225Exited184

New Positions

AZN0.1%

+2.3M

AMCOR PLC0.0%

+3.8M

PNFP0.0%

+1.4M

PIPER SANDLER COMPAN…0.0%

+755K

QIAGEN NV0.0%

+1.0M

ADVANTAGE SOLUTIONS …0.0%

+31K

ONCE UPON A FARM PBC0.0%

+24K

RVPH0.0%

+10K

WLTH0.0%

+257K

YYAI0.0%

+85K

Increased

GUNR0.6%

+10.9M(+16%)

LYG0.0%

+9.2M(+63%)

UWMC0.0%

+5.8M(+529%)

HBAN0.0%

+4.6M(+32%)

CDE0.0%

+3.9M(+68%)

GOVT0.0%

+3.6M(+77%)

VWO0.4%

+3.0M(+6%)

RYN0.0%

+2.4M(+137%)

FITB0.1%

+2.2M(+33%)

TEVA0.0%

+2.0M(+36%)

Decreased

CPNG0.0%

-3,004,677(-33%)

USHY0.2%

-2,847,917(-8%)

NFRA0.3%

-2,380,622(-7%)

ELME0.0%

-1,563,172(-96%)

AAPL5.3%

-1,404,826(-1%)

BAC0.4%

-1,398,438(-2%)

HYGV0.1%

-1,287,486(-7%)

PFE0.2%

-1,224,037(-2%)

ARCC0.0%

-1,220,138(-98%)

HYPR0.0%

-1,165,220(-87%)

Exited

-4,756,686

-19,514,316

-1,402,411

-265,164

INDIVIOR PLC

-1,086,214

-1,133,001

-762,417

-1,091,519

-184,351

-2,317,389

Quarter-over-quarter changes compared to prior 13F filing. New = first appearance; Exited = no longer held.

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Holdings

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