Northern Trust Corp Investment Analysis: Q2 2026 Portfolio Changes

As part of our ongoing analysis of institutional investor activity, we've examined the latest filing from Northern Trust Corp, dated as-of June 30, 2026. This report details observable changes in their holdings during this quarter.

Major Holdings and Their Evolution

Northern Trust Corp maintains a significant allocation to the Technology sector, with NVIDIA Corporation (NVDA) holding approximately 5.84% of its portfolio as of June 30th. The investor's stake in NVDA decreased slightly by about 0.67% in terms of shares during this period.

The second largest position is held by Apple Inc (AAPL) at roughly 5.31%. Similarly, the number of AAPL shares saw a small reduction, indicating either continued selling or dilution occurred since the previous quarter.

Micron Technology Inc (MU), Microsoft Corp (MSFT), Alphabet Inc's Google unit (GOOG), and Alphabet Inc's GOOGL unit all feature prominently in Northern Trust's portfolio. The allocation to these companies combined represents a substantial portion of their Technology investments, totaling over 14%. Changes varied across these holdings: NVDA decreased slightly, AAPL and MSFT saw modest reductions, while Alphabet (GOOGL) increased its stake by 1.19% in shares.

Significant Purchases This Quarter

The filing indicates notable buying activity for several stocks during Q2:

• ISHares TR (IWF), an exchange-traded fund, saw its share count increase by a staggering 261.27% during the quarter.
• KLA Corp experienced a significant jump in holdings with an 876.21% increase in shares, making it one of the largest new positions added this quarter.
• Booking Holdings Inc also showed a massive increase with over 2300% growth in share count during Q2.
• Devon Energy Corp New was added to the portfolio, albeit without being listed as a top holding due to its smaller allocation (0.05%). The share increase here was substantial at 85.38%.
• Carvana Co, another Energy sector stock, also showed a significant rise in allocation during the quarter.

Strategic Sales and Portfolio Shifts

In contrast to these purchases, Northern Trust Corp divested from several positions:

• The investor sold shares of Pfizer Inc (PFE), reducing its allocation by approximately 4.74% in terms of share count.
• Hecla Mining Company experienced a sharp decline, with the investor selling off nearly all holdings (93.21% reduction) and its allocation now stands at just 0.01%.
• The company also disposed of shares in several other stocks including Alight Inc, which saw a near-total reduction (72.18% decrease), and exited positions in companies like UR-ENERGY Inc (0.0%) and ISHares TR (AGG) which also saw a complete reduction of holdings.
• The filing confirms that the investor has engaged in both large purchases and large sales during this quarter, as indicated by the "has_large_buys" and "has_large_sells" flags being true.

  Sector Diversification and Top Holdings Overview

  While Technology remains a core sector for Northern Trust Corp (accounting for 30.76% of total portfolio value), the investor has diversified across other sectors including Healthcare, Communication Services, Consumer Cyclical, Industrials, Consumer Defensive, Energy, Real Estate, and Financial Services.

  The top holdings list shows that besides Technology stocks, significant allocations exist in ISHares TR (AGG) at 2.62%, followed by Healthcare's Pfizer Inc (PFE) and Energy's Devon Energy Corp New (DVN), each holding about 0.17% and 0.05% respectively.

  The overall portfolio value stood at approximately $851 billion as of June 30th, reflecting a complex mix of individual stocks and ETFs across various market capitalizations and sectors. The top five holdings by weight accounted for roughly 19.91% of the total portfolio.

  The complete list of significant stock purchases this quarter includes: KLAC, IWF, BKNG, DVN, CVNA. Conversely, notable exits or large reductions were seen in STEL, ASR, SCVL, QFIN, BILI (as per "significant_sell_symbols").