Northern Trust2026-Q2
NORTHERN TRUST CORP's 2026-Q2 13F filing reveals significant shifts in its equity portfolio.
| Ticker | Action | Value Change |
|---|---|---|
| MU | add | +$8.96B |
| NVDA | trim | +$6.15B (shares trimmed but value rose due to stock price gain) |
| XOM | trim | -$1.65B |
| HON | sold_out | a notable change |
Northern Trust increased its stake in MU from a weight of 0.46% to 1.45%, making it one of the largest additions. This move aligns with the broader trend of increasing exposure to information technology, which now comprises 36.92% of the portfolio.
Despite trimming shares, Northern Trust's NVDA position grew in value by +$6.15B because the stock price gains outpaced the reduction in share count. The portfolio weight remained nearly flat at 5.84%, up from 5.83%.
Northern Trust reduced its XOM position, with the value falling by -$1.65B and weight decreasing from 0.96% to 0.65%. This contributed to a drop in the overall Energy sector weight from 4.13% to 3.1% in key_metrics.
Northern Trust sold out of HON entirely, moving from a portfolio weight of 0.17% to 0.0%. This action, along with trims in other industrials like CAT, led to a slight increase in the Industrials sector weight from 9.55% to 9.57%.
This filing shows Northern Trust doubling down on semiconductor stocks like MU while trimming mature tech holdings, reflecting a tactical shift towards high-growth segments. Investors might note the increased concentration in IT and the nuanced approach to position sizing amid rising prices.