Northern Trust Corporation

The full register, from 13F filings

The Register tab above is hand research: a dozen holders, each traced to the filing it came from. This asks the same question of the whole market for the quarter ended 31-mar-2026, where 938 managers reported a position. Broad where the research is deep, and shallow in the ways a 13F always is.

Built from 13F filings, which report US listed, long, US custodied positions only. A register from this source is a floor rather than a level: a holder's true position can be far larger, as BlackRock's ASML stake shows at 1.28m shares in a 13F against 26.3m in its 13G/A. Holdings held through derivatives, outside US custody, or below a manager's reporting obligation do not appear. Where a holder is marked as a family, its total sums several separate filing entities and describes something no single filing describes; the constituent entities and their share counts are listed so the total can be checked. That roll-up can legitimately exceed the family's own Schedule 13G, because a 13G is filed by one legal entity: Vanguard reports Alphabet through ten advisory entities, and The Vanguard Group Inc itself reported zero after its January 2026 disaggregation.

What a reader needs to know to read these numbers

• Northern Trust (CIK 0000073124) files a very large Form 13F-HR (a 13F COMBINATION REPORT covering Northern Trust Corp itself plus dozens of subsidiary/affiliate managers such as Northern Trust Investments Inc, Northern Trust Global Investments Ltd, and ~30 other filers relying on the same report). The most recent one (filed 13 Aug 2026, period 30 Jun 2026, accession 0000073124-26-000053) reports tableEntryTotal = 19,568 positions and tableValueTotal = $859,788,523,480, per the filing's own primary_doc.xml summary page. This is client/custody assets under Northern Trust's investment-management and asset-servicing businesses, NOT Northern Trust's own holdings, exactly the pattern this project already excludes for JPMorgan's 13F (guarded by a CIK list plus a 400-position threshold in the ingest pipeline). None of these 19,568 positions were written into the holdings array.
• One of those 19,568 client positions is, unusually, Northern Trust's own common stock: 5,554,330 shares across 11 accounts, valued at $965,564,727 as of 30 Jun 2026 (from the same 13F-HR info table). This IS included as a REGISTER row ('who owns NTRS'), because it reflects real NTRS shares held by Northern Trust's investment-management/personal-trust businesses for third-party clients, but it is explicitly labelled active rather than insider or strategic, since it is not a Northern Trust corporate treasury or executive position. No holder_type in the fixed enum cleanly describes 'fiduciary/custodial client shares of the filer's own stock'; active was used as the closest fit.
• Holdings side: no equity-method investees, joint ventures, or non-marketable equity-in-companies were found beyond the three rows listed. Search terms 'equity method', 'non-marketable', 'nonmarketable', 'unconsolidated', 'joint venture', 'minority interest', 'strategic invest', 'equity investment', 'equity securities', 'Visa', 'Mastercard', 'clearing', 'membership', 'Community Development', 'Federal Home Loan Bank stock', 'Federal Reserve Bank stock' were run against both the Q2 2026 10-Q (filed 30 Jul 2026, https://www.sec.gov/Archives/edgar/data/73124/000007312426000047/ntrs-20260630.htm) and the FY2025 10-K (filed 24 Feb 2026, https://www.sec.gov/Archives/edgar/data/73124/000007312426000016/ntrs-20251231.htm) using scripts/filing.py. Exhibit 21 to the 10-K was read in full (83KB, ~150 entities) for its ownership-percentage column; it surfaced Equity Data Science, Inc. at 18.2% (included) and otherwise lists wholly-owned subsidiaries (100% or 99.9%/99.99%) and near-fully-owned NMTC/affordable-housing tax-credit fund vehicles (Enterprise Housing Equity Fund IV/VII at 99.99%, ~25 'TNT-... NMTC Fund, LLC' entries at 100%), all of which are consolidated subsidiaries and excluded.
• Federal Reserve Bank of Chicago stock and Federal Home Loan Bank stock (mandatory, redemption-value membership stock tied to being a member bank) and 'community development investments' (tax-credit/affordable-housing structures, mostly VIEs, reported at amortized cost, Table 66 of the 10-Q shows a combined $786.9m affordable-housing / $186.1m New Markets balance across many unnamed vehicles as of 30 Jun 2026) were found and deliberately excluded: they are not market equity stakes in operating companies, they are not individually broken out by investee, and several are wholly-owned consolidated vehicles anyway (see Exhibit 21 note above). 'Seed capital investments to certain funds managed by Northern Trust' (fair value $80.2m at 30 Jun 2026, $112.5m at 31 Dec 2025) were also excluded: this is Northern Trust's own money seeded into its own fund products, not an equity stake in another company.
• Register self-gate, computed from this final file exactly as the chart computes it (no rolls_up_into/is_aggregate rows are used, so every row counts at full raw value): 9 rows, raw shares sum to 72,703,596, against 182,955,653 common shares outstanding = 39.74%. Within the expected 25-45% range.
• The Vanguard Group row sums seven successor entities from Q2 2026 13F-HR filings (all period 30 Jun 2026, filed 11-13 Aug 2026): VANGUARD CAPITAL MANAGEMENT LLC (CIK 0002100119) 11,779,613 sh / $2,047,767,924; VANGUARD PORTFOLIO MANAGEMENT LLC (CIK 0002100121) 8,414,408 sh / $1,462,760,687; VANGUARD FIDUCIARY TRUST CO (CIK 0000933478) 1,033,058 sh / $179,586,803; Vanguard Global Advisers, LLC (CIK 0001811242) 399,615 sh / $69,469,072; VANGUARD ASSET MANAGEMENT, Ltd (CIK 0001680208) 412,269 sh / $71,668,843; Vanguard Investments Australia, Ltd. (CIK 0001550100) 91,564 sh / $15,917,486; Vanguard Personalized Indexing Management, LLC (CIK 0001767306) 27,562 sh / $4,791,378. The parent, The Vanguard Group, Inc. (CIK 0000102909), filed a Form 13F-NT (a notice carrying no holdings) for this period, confirmed via https://data.sec.gov/submissions/CIK0000102909.json, so per the project's own rule these seven successors ARE the Vanguard position and were summed rather than substituted. Never re-add the parent or any single successor on top of this row. This project's own register snapshot (data/registers/NTRS.json, dated 31 Mar 2026) independently lists the same seven CIKs at a slightly lower combined 22,148,680 shares, consistent with the fresh 22,158,089 figure used here (that snapshot was used only to identify the entity list, per the research instructions, never for the numbers).
• Capital Group was checked and holds NOTHING: all three registrant CIKs (Capital World Investors 0001422849, Capital International Investors 0001562230, Capital Research Global Investors 0001422848) were searched in their own Q2 2026 13F-HR info tables (filed 12 Aug 2026) for 'NORTHERN TRUST' / 'NORTHERN TR' / 'NORTHERN' and none carry a Northern Trust Corp row. No register row was created for Capital Group.
• T. Rowe Price Investment Management, Inc. (CIK 0001897612, the separate registrant flagged in the research instructions) was also checked in its own Q2 2026 13F-HR (filed 14 Aug 2026) and holds NOTHING in Northern Trust. Only T. Rowe Price Associates, Inc. (CIK 0000080255) holds a position. T. Rowe reports values in THOUSANDS: the info table shows $54,745 against 314,903 shares, an implied price of $173.85/share, consistent with BlackRock's and Vanguard's own Q2 2026 filings pricing NTRS at $173.84-173.85/share as of 30 Jun 2026, so this was converted to $54,745,000 in value_usd (not left at the raw $54,745).
• The 'All directors and executive officers as a group (24 persons)' row uses only the SHARES column (1,124,209) from the DEF 14A filed 11 Mar 2026 (beneficial ownership table as of 31 Dec 2025); it excludes 104,516 shares underlying exercisable stock options that the proxy adds to reach its 'TOTAL BENEFICIAL OWNERSHIP OF COMMON STOCK' figure of 1,228,725, since option shares are not yet outstanding shares. No individual director/officer rows are included in this file (so no is_aggregate/rolls_up_into marking was needed), meaning the self-gate is not exposed to the Marriott-style double-counting bug described in the research instructions.
• The same DEF 14A separately discloses that one non-employee director (identified in the filing as 'Mr. Smith') is the beneficiary of trusts holding 1,002,160 NTRS shares (plus 1,704 shares in a trust he shares voting/investment power over with one other individual), explicitly EXCLUDED from his own beneficial-ownership table row because he shares voting/investment power over the larger trust with three or more other individuals. No register row was created for this: the proxy does not name the trust or a specific controlling holder, so it cannot be attributed to a single, clean holder_name. Flagged here as a real, sourced finding rather than a silent gap.
• Preferred stock: Northern Trust has Series D Non-Cumulative Perpetual Preferred Stock (5,000 shares, no par, $493.5m) and Series E Non-Cumulative Perpetual Preferred Stock (16,000 shares, no par, $391.4m, represented by depositary shares trading as NTRSO on Nasdaq). company.shares_outstanding (182,955,653) is COMMON shares only, from the 30 Jun 2026 10-Q cover page ('At June 30, 2026, 182,955,653 shares of common stock, $1.66 2/3 par value, were outstanding.'). No preferred or depositary share count was used in any register row's shares field or denominator.
• This project's own register snapshot for NTRS (data/registers/NTRS.json, dated 31 Mar 2026) was used ONLY to identify which entity names/CIKs to check for Vanguard, Geode, and to confirm Capital Group and T. Rowe were absent from it (prompting the direct checks above, per the project lesson that this snapshot can be incomplete). Its numbers were not used for any figure in this file. It also independently shows Northern Trust holding 5,876,501 of its own shares as of 31 Mar 2026, consistent in kind (though not amount) with the 5,554,330-share fiduciary position found fresh for 30 Jun 2026 above.
• MFS Investment Management, State Farm Mutual Automobile Insurance Co, Invesco, Goldman Sachs, Morgan Stanley, AQR Capital Management, Dimensional Fund Advisors and BNY Mellon all appear in this project's 31 Mar 2026 register snapshot with meaningful NTRS positions (roughly 1.2m to 5.8m shares each) but were NOT independently refreshed against their own Q2 2026 13F-HR filings in this task and are therefore NOT included as register rows here, to avoid reporting stale or unverified figures as filed.