Vanguard Group Inc ownership in NSC / Norfolk Southern Corporation

諾福克南方公司

US ˙ NYSE ˙ US6558441084

Security	NSC / Norfolk Southern Corporation
Institution	Vanguard Group Inc
Latest Disclosed Ownership	20,824,287 shares
Ownership	9.28%

2026-01-30 - Vanguard Group Inc has filed an SCHEDULE 13G/A form with the Securities and Exchange Commission (SEC) disclosing ownership of 20,824,287 shares of Norfolk Southern Corporation (US:NSC). This represents 9.28 percent ownership of the company. In their previous filing dated 2024-02-13 , Vanguard Group Inc had reported owning 18,534,987 shares, indicating an increase of 12.35 percent.

Institutional Ownership: 13D/G Filings

This table shows a history of the 13D/G filings made by the investor and/or investor group. Note that the share values in this table are not directly comparable to any numbers shown in the 13F table (if any).

File Date	Effective Date	Form	Prev Shares	Latest Shares	ΔShares (Percent)	Ownership (Percent)	ΔOwnership (Percent)
2026-01-30	2026-01-30	13G/A	18,534,987	20,824,287	12.35	9.28	13.17
2024-02-13	2024-02-13	13G/A	18,533,329	18,534,987	0.01	8.20	2.37
2023-02-09	2023-02-09	13G/A	18,425,636	18,533,329	0.58	8.01	5.81
2022-02-10	2022-02-10	13G/A	18,819,645	18,425,636	-2.09	7.57	2.16
2021-02-10	2021-02-10	13G/A	19,733,702	18,819,645	-4.63	7.41	-1.98
2020-02-12	2020-02-12	13G/A	21,026,933	19,733,702	-6.15	7.56	-2.07
2019-02-11	2019-02-11	13G/A	20,863,000	21,026,933	0.79	7.72	5.90
2018-09-10	2018-09-10	13G/A	20,863,000	13,731,680	-34.18	8.53	17.01
2018-02-09	2018-02-09	13G/A	20,927,287	24,646,030	17.77	15.33	114.11
2017-02-10	2017-02-10	13G/A	19,013,740	20,927,287	10.06	7.16	12.58
2016-02-11	2016-02-11	13G/A		19,013,740		6.36
2015-02-10	2015-02-10	13G/A		18,925,167		6.11
2014-02-12	2014-02-12	13G/A		17,129,217		5.54
2013-02-12	2013-02-12	13G		16,201,884		5.12

Important Note: One of the primary uses of the 13D/G filings is to evaluate the ability of a firm to control a company (ie, the "beneficial ownership"). To that end, firms are required to report not just direct holdings in companies, but indirect holdings that they control. For investment firms, these indirect holdings can include shares in funds they manage, advisory accounts, and in the case of activist campaigns, pledged votes. Therefore, share counts listed in 13D/G filings can differ significantly than share counts listed in 13F filings.

Institutional Ownership: 13F and NPORT Filings

The Security and Class in the table below are shown exactly as filed by the investor. We do our best to track continuity of investments through acquisitions, and this will be reflected in the table as changes in names. In addition to descriptive data, performance of the investment is shown over time. To calculate quarterly performance, we first calculate cost basis of the shares purchased during the quarter, then use that to calculate gross profit. Quarterly return is Gross Profit / Starting Portfolio value.

Note that cost basis is calculated and stored in thousands, so small quarterly changes in shares frequently result in a cost basis of zero.

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Disclosed Equity Positions (from 13F/NPORT Filings)

File Date	Effective Date	Form	Security	Class	ID	Reported Shares	ΔShares	ΔShares (%)	Reported Value (x1000)	ΔValue (%)	Alloc (%)
2026-01-29	2025-12-31	13F	NORFOLK SOUTHN	COM	655844108	20,825,837	272,651	1.33	6,012,836	-2.62	0.0872
2025-11-07	2025-09-30	13F	NORFOLK SOUTHN	COM	655844108	20,553,186	-8,087	-0.04	6,174,383	17.32	0.0924
2025-08-11	2025-06-30	13F	NORFOLK SOUTHN	COM	655844108	20,561,273	239,914	1.18	5,263,069	9.35	0.0852
2025-05-09	2025-03-31	13F	NORFOLK SOUTHN	COM	655844108	20,321,359	232,195	1.16	4,813,114	2.08	0.0870
2025-02-11	2024-12-31	13F	NORFOLK SOUTHN	COM	655844108	20,089,164	139,485	0.70	4,714,927	-4.89	0.0821
2024-11-13	2024-09-30	13F	NORFOLK SOUTHN	COM	655844108	19,949,679	215,544	1.09	4,957,495	17.01	0.0888
2024-08-13	2024-06-30	13F	NORFOLK SOUTHN	COM	655844108	19,734,135	110,445	0.56	4,236,721	-15.29	0.0814
2024-05-10	2024-03-31	13F	NORFOLK SOUTHN	COM	655844108	19,623,690	1,088,072	5.87	5,001,490	14.15	0.0991
2024-03-11	2023-12-31	13F/A-1	NORFOLK SOUTHN	COM	655844108	18,535,618	30,674	0.17	4,381,449	20.23	0.0957
2024-02-14	2023-12-31	13F	NORFOLK SOUTHN	COM	655844108	18,535,618	30,674		4,381,449		0.0832
2023-12-18	2023-09-30	13F/A-1	NORFOLK SOUTHN	COM	655844108	18,504,944	9,810	0.05	3,644,179	-13.11	0.0895
2023-11-14	2023-09-30	13F	NORFOLK SOUTHN	COM	655844108	18,504,944	9,810		3,644,179		0.0161
2023-08-14	2023-06-30	13F	NORFOLK SOUTHN	COM	655844108	18,495,134	15,065	0.08	4,193,957	7.05	0.0994
2023-07-14	2023-03-31	13F/A-1	NORFOLK SOUTHN	COM	655844108	18,480,069	-53,260	-0.29	3,917,775	-14.22	0.0998
2023-05-15	2023-03-31	13F	NORFOLK SOUTHN	COM	655844108	18,479,438	-53,891		3,917,641		0.0998
2023-02-10	2022-12-31	13F	NORFOLK SOUTHN	COM	655844108	18,533,329	-67,229	-0.36	4,566,983	17.11	0.1244
2022-11-14	2022-09-30	13F	NORFOLK SOUTHN	COM	655844108	18,600,558	-91,478	-0.49	3,899,607	-8.21	0.1147
2022-08-12	2022-06-30	13F	NORFOLK SOUTHN	COM	655844108	18,692,036	135,831	0.73	4,248,513	-19.73	0.1194
2022-05-13	2022-03-31	13F	NORFOLK SOUTHN	COM	655844108	18,556,205	130,569	0.71	5,292,600	-3.52	0.1252
2022-02-14	2021-12-31	13F	NORFOLK SOUTHN	COM	655844108	18,425,636	-260,052	-1.39	5,485,497	22.70	0.1245
2021-11-12	2021-09-30	13F	NORFOLK SOUTHN	COM	655844108	18,685,688	-209,648	-1.11	4,470,552	-10.86	0.1110
2021-08-13	2021-06-30	13F	NORFOLK SOUTHN	COM	655844108	18,895,336	25,524	0.14	5,015,012	-1.02	0.1248
2021-05-14	2021-03-31	13F	NORFOLK SOUTHN	COM	655844108	18,869,812	50,167	0.27	5,066,921	13.31	0.1371
2021-02-12	2020-12-31	13F	NORFOLK SOUTHN	COM	655844108	18,819,645	-281,428	-1.47	4,471,735	9.40	0.1297
2020-11-16	2020-09-30	13F	NORFOLK SOUTHN	COM	655844108	19,101,073	-378,693	-1.94	4,087,440	19.51	0.1353
2020-08-14	2020-06-30	13F	NORFOLK SOUTHERN	COM	655844108	19,479,766	-665,276	-3.30	3,420,063	16.28	0.1213
2020-05-15	2020-03-31	13F	NORFOLK SOUTHERN	COM	655844108	20,145,042	411,340	2.08	2,941,175	-23.23	0.1253
2020-02-14	2019-12-31	13F	NORFOLK SOUTHERN	COM	655844108	19,733,702	-64,524	-0.33	3,830,904	7.70	0.1306
2019-11-14	2019-09-30	13F	NORFOLK SOUTHERN	COM	655844108	19,798,226	-39,283	-0.20	3,556,949	-10.05	0.1319
2019-08-14	2019-06-30	13F	NORFOLK SOUTHERN	COM	655844108	19,837,509	88,933	0.45	3,954,210	7.14	0.1488
2019-05-15	2019-03-31	13F	NORFOLK SOUTHERN	COM	655844108	19,748,576	-1,278,357	-6.08	3,690,812	17.38	0.1448
2019-02-14	2018-12-31	13F	NORFOLK SOUTHERN	COM	655844108	21,026,933	-132,199	-0.62	3,144,369	-17.67	0.1413
2018-12-13	2018-09-30	13F/A-2	NORFOLK SOUTHERN	COM	655844108	21,159,132	336,725	1.62	3,819,223	21.57	0.1492
2018-12-13	2018-09-30	13F/A-2	GRAMERCY PPTY TR	COM NEW	385002308	13,779,399	-9,035,246		378,108		0.0148
2018-11-23	2018-09-30	13F/A-1	NORFOLK SOUTHERN	COM	655844108	21,159,132	7,379,733		3,819,223		0.1492
2018-11-23	2018-09-30	13F/A-1	GRAMERCY PPTY TR	COM NEW	385002308	13,779,399	-7,379,733		378,108		0.0148
2018-11-14	2018-09-30	13F	NORFOLK SOUTHERN	COM	655844108	21,159,132	336,725		3,819,223
2018-11-14	2018-09-30	13F	GRAMERCY PPTY TR	COM NEW	385002308	13,779,399			378,108
2018-08-14	2018-06-30	13F	NORFOLK SOUTHERN	COM	655844108	20,822,407	-150,437	-0.72	3,141,476	10.32	0.1314
2018-08-14	2018-06-30	13F	GRAMERCY PPTY TR	COM NEW	385002308	22,814,645	-867,009		623,295		0.0261
2018-05-15	2018-03-31	13F	NORFOLK SOUTHERN	COM	655844108	20,972,844	109,844	0.53	2,847,693	-5.80	0.1245
2018-05-15	2018-03-31	13F	GRAMERCY PPTY TR	COM NEW	385002308	23,681,654	-964,376		514,602		0.0225
2018-02-14	2017-12-31	13F	NORFOLK SOUTHERN	COM	655844108	20,863,000	476,852	2.34	3,023,049	12.14	0.1322
2018-02-14	2017-12-31	13F	GRAMERCY PPTY TR	COM NEW	385002308	24,646,030	789,477		657,063		0.0287
2017-11-14	2017-09-30	13F	NORFOLK SOUTHERN	COM	655844108	20,386,148	288,815	1.44	2,695,864	10.22	0.1260
2017-11-14	2017-09-30	13F	GRAMERCY PPTY TR	COM NEW	385002308	23,856,553	394,355		721,661		0.0337
2017-08-24	2017-06-30	13F/A-1	NORFOLK SOUTHERN	COM	655844108	20,097,333	631,018	3.24	2,445,845	12.21	0.1205
2017-08-24	2017-06-30	13F/A-1	GRAMERCY PPTY TR	COM NEW	385002308	23,462,198	1,437,301		697,062		0.0343
2017-08-11	2017-06-30	13F	NORFOLK SOUTHERN	COM	655844108	20,097,333	631,018		2,445,845
2017-08-11	2017-06-30	13F	GRAMERCY PPTY TR	COM NEW	385002308	23,462,198			697,062
2017-05-12	2017-03-31	13F	NORFOLK SOUTHERN	COM	655844108	19,466,315	-1,460,972	-6.98	2,179,644	-3.62	0.1121
2017-05-12	2017-03-31	13F	GRAMERCY PPTY TR	COM NEW	385002308	22,024,897	1,097,610		579,255		0.0298
2017-02-14	2016-12-31	13F	NORFOLK SOUTHERN	COM	655844108	20,927,287	422,912	2.06	2,261,613	13.64	0.1262
2016-11-14	2016-09-30	13F	NORFOLK SOUTHERN	COM	655844108	20,504,375	231,930	1.14	1,990,155	15.32	0.1169
2016-08-10	2016-06-30	13F	NORFOLK SOUTHERN	COM	655844108	20,272,445	478,702	2.42	1,725,793	4.73	0.1072
2016-05-13	2016-03-31	13F	NORFOLK SOUTHERN	COM	655844108	19,793,743	780,003	4.10	1,647,830	2.45	0.1068
2016-02-08	2015-12-31	13F	NORFOLK SOUTHERN	COM	655844108	19,013,740	234,145	1.25	1,608,372	12.10	0.1081
2015-11-12	2015-09-30	13F/A-1	NORFOLK SOUTHERN	COM	655844108	18,779,595	-23,252	-0.12	1,434,760	-12.65	0.0609
2015-11-12	2015-09-30	13F/A-1	NORFOLK SOUTHERN	COM	655844108	18,779,595	-23,252		1,434,760		0.0609
2015-08-13	2015-06-30	13F	NORFOLK SOUTHERN	COM	655844108	18,802,847	75,422	0.40	1,642,617	-14.78	0.1110
2015-05-15	2015-03-31	13F/A-1	NORFOLK SOUTHERN	COM	655844108	18,727,425	-197,742	-1.04	1,927,427	-7.08	0.1307
2015-05-14	2015-03-31	13F	NORFOLK SOUTHERN	COM	655844108	18,727,425			1,927,427
2015-02-12	2014-12-31	13F	NORFOLK SOUTHERN	COM	655844108	18,925,167	796,689	4.39	2,074,388	2.53	0.1494
2014-11-12	2014-09-30	13F	NORFOLK SOUTHERN	COM	655844108	18,128,478	392,336	2.21	2,023,139	10.71	0.1577
2014-08-11	2014-06-30	13F	NORFOLK SOUTHERN	COM	655844108	17,736,142	411,709	2.38	1,827,355	8.55	0.1440
2014-05-13	2014-03-31	13F	NORFOLK SOUTHERN	COM	655844108	17,324,433	195,216	1.14	1,683,415	5.87	0.1416
2014-02-12	2013-12-31	13F	NORFOLK SOUTHERN	COM	655844108	17,129,217	135,668	0.80	1,590,105	20.97	0.1398
2013-11-07	2013-09-30	13F	NORFOLK SOUTHERN	COM	655844108	16,993,549	318,337	1.91	1,314,450	8.50	0.1284
2013-08-13	2013-06-30	13F	NORFOLK SOUTHERN	COM	655844108	16,675,212	16,675,212		1,211,454		0.1272

Legend

Shares: The total number of shares held by the institution at the end of the reporting period (the effective date). This is provided in the filing.
Value: The total value of the shares as of the effective date. This is provided in the filing.
Avg. Share Price: The weighted average share price of the shares held by the institution. We use FIFO accounting to determine this price
Class: This is the security class as indicated by the filer. There are a variety of values for this field. Common values include "EC" = equity common, "EP" - equity preferred

Allocation (%): The percent of the institution's portfolio that this position represents. This is provided in NPORT filings. For 13F filings, we calculate it.
Change in Allocation: The change in allocation from the prior reporting period. This is calculated as current allocation - prior allocation.
Change in Allocation (%): The percent change in allocation from the prior reporting period. This is calculated as (current allocation - prior allocation) / prior allocation.
Cost Basis: The total cost of the shares held. This is calculated as reported shares * avg. share price
Unrealized Gain/Loss: This is the market value of the position as of the effective date minus the cost basis.