Norfolk Southern Corporation
MX ˙ BMV ˙ US6558441084
SecurityMX:NSC / Norfolk Southern Corporation
InstitutionGeode Capital Management, Llc
Latest Disclosed Ownership5,076,188 shares
Latest Disclosed Value $ 1,450,340,202
Geode Capital Management, Llc reports 4.06% increase in ownership of NSC / Norfolk Southern Corporation

On May 15, 2026 - Geode Capital Management, Llc filed a 13F-HR form disclosing ownership of 5,076,188 shares of Norfolk Southern Corporation (MX:NSC) valued at $1,450,340,202 USD as of March 31, 2026. The entity filed a previous 13F-HR on February 9, 2026 disclosing 4,878,029 shares of Norfolk Southern Corporation. This represents a change in shares of 4.06% during the quarter.

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 Avg Price
Paid (Est)		 Reported
Shares		 ΔShares ΔShares
(%)		 Reported
Value
(x1000)		 ΔValue
(%)		 Alloc
(%)		 ΔAlloc ΔAlloc (%) Cost Basis
(x1000)		 Unrealized
Gain/Loss
(x1000)
2026-05-15 2026-03-31 13F NORFOLK SOUTHERN COM 655844108 5,076,188 198,159 4.06 1,450,340 3.46 0.0482
2026-02-09 2025-12-31 13F NORFOLK SOUTHERN COM 655844108 4,878,029 36,205 0.75 1,401,797 -3.15 0.0865
2025-11-12 2025-09-30 13F NORFOLK SOUTHERN COM 655844108 4,841,824 19,749 0.41 1,447,320 17.85 0.0923
2025-08-08 2025-06-30 13F NORFOLK SOUTHERN COM 655844108 4,822,075 36,362 0.76 1,228,064 8.76 0.0861
2025-05-13 2025-03-31 13F NORFOLK SOUTHERN COM 655844108 4,785,713 91,140 1.94 1,129,192 2.80 0.0888
2025-02-12 2024-12-31 13F NORFOLK SOUTHERN COM 655844108 4,694,573 113,648 2.48 1,098,472 -3.12 0.0851
2024-11-12 2024-09-30 13F NORFOLK SOUTHERN COM 655844108 4,580,925 62,186 1.38 1,133,828 17.24 0.0918
2024-08-09 2024-06-30 13F NORFOLK SOUTHERN COM 655844108 4,518,739 53,887 1.21 967,060 -14.75 0.0849
2024-05-13 2024-03-31 13F NORFOLK SOUTHERN COM 655844108 4,464,852 132,669 3.06 1,134,415 11.12 0.1049
2024-02-13 2023-12-31 13F NORFOLK SOUTHERN COM 655844108 4,332,183 69,256 1.62 1,020,896 21.91 0.1068
2023-11-13 2023-09-30 13F NORFOLK SOUTHERN COM 655844108 4,262,927 63,231 1.51 837,398 -11.80 0.0997
2023-08-11 2023-06-30 13F NORFOLK SOUTHERN COM 655844108 4,199,696 86,988 2.12 949,455 9.18 0.1116
2023-05-15 2023-03-31 13F NORFOLK SOUTHERN COM 655844108 4,112,708 13,513 0.33 869,600 86,255.41 0.1129
2023-02-13 2022-12-31 13F NORFOLK SOUTHERN COM 655844108 4,099,195 25,997 0.64 1,008 -99.88 0.1415
2022-11-14 2022-09-30 13F NORFOLK SOUTHERN COM 655844108 4,073,198 22,718 0.56 852,797 -7.18 0.1294
2022-08-12 2022-06-30 13F NORFOLK SOUTHERN COM 655844108 4,050,480 81,509 2.05 918,786 -18.61 0.1346
2022-05-13 2022-03-31 13F NORFOLK SOUTHERN COM 655844108 3,968,971 30,294 0.77 1,128,928 -3.43 0.1409
2022-02-11 2021-12-31 13F NORFOLK SOUTHERN COM 655844108 3,938,677 93,008 2.42 1,169,049 27.45 0.1408
2021-11-12 2021-09-30 13F NORFOLK SOUTHERN COM 655844108 3,845,669 10,064 0.26 917,237 -9.61 0.1235
2021-08-13 2021-06-30 13F NORFOLK SOUTHERN COM 655844108 3,835,605 77,043 2.05 1,014,743 0.85 0.1398
2021-05-12 2021-03-31 13F NORFOLK SOUTHERN COM 655844108 3,758,562 20,779 0.56 1,006,156 13.61 0.1539
2021-02-12 2020-12-31 13F NORFOLK SOUTHERN COM 655844108 3,737,783 34,451 0.93 885,633 12.01 0.1486
2020-11-13 2020-09-30 13F NORFOLK SOUTHERN COM 655844108 3,703,332 -6,937 -0.19 790,691 21.63 0.1549
2020-08-13 2020-06-30 13F NORFOLK SOUTHERN COM 655844108 3,710,269 49,139 1.34 650,073 21.88 0.1391
2020-05-14 2020-03-31 13F NORFOLK SOUTHERN COM 655844108 3,661,130 69,008 1.92 533,368 -23.34 0.1390
2020-02-20 2019-12-31 13F/A-1 NORFOLK SOUTHERN COM 655844108 3,592,122 94 0.00 695,725 7.99 0.1454
2020-02-13 2019-12-31 13F NORFOLK SOUTHERN COM 655844108 3,592,122 94 695,725 88,664.0511
2019-11-12 2019-09-30 13F NORFOLK SOUTHERN COM 655844108 3,592,028 23,598 0.66 644,227 -9.25 0.1503
2019-08-14 2019-06-30 13F NORFOLK SOUTHERN COM 655844108 3,568,430 110,480 3.19 709,921 10.06 0.1718
2019-05-14 2019-03-31 13F NORFOLK SOUTHERN COM 655844108 3,457,950 93,099 2.77 645,031 28.43 0.1671
2019-03-06 2018-12-31 13F/A-1 NORFOLK SOUTHERN COM 655844108 3,364,851 221,780 7.06 502,245 -11.29 0.1553
2019-02-13 2018-12-31 13F NORFOLK SOUTHERN COM 655844108 3,364,851 221,780 502,245
2018-11-13 2018-09-30 13F NORFOLK SOUTHERN COM 655844108 3,143,071 126,444 4.19 566,160 24.68 0.1595
2018-11-13 2018-09-30 13F GRAMERCY PROPERTY TRUST COM NEW 385002308 1,556,374 66,895 42,706 0.0120
2018-08-14 2018-06-30 13F NORFOLK SOUTHERN COM 655844108 3,016,627 62,185 2.10 454,100 13.50 0.1396
2018-08-14 2018-06-30 13F GRAMERCY PROPERTY TRUST COM NEW 385002308 1,489,479 159,467 40,692 0.0125
2018-05-15 2018-03-31 13F NORFOLK SOUTHERN COM 655844108 2,954,442 134,676 4.78 400,101 -1.86 0.1304
2018-05-15 2018-03-31 13F GRAMERCY PROPERTY TRUST COM NEW 385002308 1,330,012 14,037 28,901 0.0094
2018-02-13 2017-12-31 13F NORFOLK SOUTHERN COM 655844108 2,819,766 58,309 2.11 407,666 11.87 0.1384
2018-02-13 2017-12-31 13F GRAMERCY PROPERTY TRUST COM NEW 385002308 1,315,975 75,866 35,083 0.0119
2017-11-14 2017-09-30 13F NORFOLK SOUTHERN COM 655844108 2,761,457 31,166 1.14 364,416 9.87 0.1345
2017-11-14 2017-09-30 13F GRAMERCY PROPERTY TRUST COM NEW 385002308 1,240,109 56,195 37,513 0.0138
2017-08-14 2017-06-30 13F NORFOLK SOUTHERN COM 655844108 2,730,291 32,540 1.21 331,677 9.97 0.1304
2017-08-14 2017-06-30 13F GRAMERCY PROPERTY TRUST COM NEW 385002308 1,183,914 119,712 35,174 0.0138
2017-06-21 2017-03-31 13F/A-1 NORFOLK SOUTHERN CORP COM COM 655844108 2,697,751 193,231 7.72 301,616 11.58 0.1237
2017-06-21 2017-03-31 13F/A-1 GRAMERCY PROPERTY TRUST COM NEW 385002308 1,064,202 -1,440,318 27,988 0.0115
2017-05-12 2017-03-31 13F NORFOLK SOUTHERN CORP COM COM 655844108 2,697,751 301,616
2017-05-12 2017-03-31 13F GRAMERCY PROPERTY TRUST COM NEW 385002308 1,064,202 27,988
2017-02-14 2016-12-31 13F NORFOLK SOUTHERN CORP COM COM 655844108 2,504,520 101,759 4.24 270,319 16.11 0.1257
2016-11-10 2016-09-30 13F NORFOLK SOUTHERN CORP COM COM 655844108 2,402,761 91,163 3.94 232,822 18.53 0.1172
2016-08-12 2016-06-30 13F NORFOLK SOUTHERN CORP COM COM 655844108 2,311,598 -75,821 -3.18 196,423 -0.97 0.1068
2016-05-13 2016-03-31 13F NORFOLK SOUTHERN CORP COM COM 655844108 2,387,419 -63,660 -2.60 198,344 -4.14 0.1053
2016-02-12 2015-12-31 13F NORFOLK SOUTHERN CORP COM COM 655844108 2,451,079 5,812 0.24 206,915 10.97 0.1179
2015-11-13 2015-09-30 13F NORFOLK SOUTHERN CORP COM COM 655844108 2,445,267 -16,762 -0.68 186,458 -13.14 0.1131
2015-08-14 2015-06-30 13F NORFOLK SOUTHERN CORP COM COM 655844108 2,462,029 17,017 0.70 214,667 -14.56 0.1226
2015-05-14 2015-03-31 13F NORFOLK SOUTHERN CORP COM COM 655844108 2,445,012 58,682 2.46 251,254 -3.82 0.1436
2015-02-12 2014-12-31 13F NORFOLK SOUTHERN CORP COM COM 655844108 2,386,330 83,605 3.63 261,236 1.78 0.1554
2014-11-14 2014-09-30 13F NORFOLK SOUTHERN CORP COM COM 655844108 2,302,725 -16,496 -0.71 256,661 7.47 0.1664
2014-08-13 2014-06-30 13F NORFOLK SOUTHERN CORP COM COM 655844108 2,319,221 -27,252 -1.16 238,810 4.78 0.1544
2014-05-14 2014-03-31 13F NORFOLK SOUTHERN CORP COM COM 655844108 2,346,473 27,714 1.20 227,912 5.91 0.1529
2014-02-14 2013-12-31 13F NORFOLK SOUTHERN CORP COM COM 655844108 2,318,759 104,343 4.71 215,188 25.66 0.1492
2013-11-14 2013-09-30 13F NORFOLK SOUTHERN CORP COM COM 655844108 2,214,416 47,350 2.18 171,241 8.79 0.1373
2013-08-14 2013-06-30 13F NORFOLK SOUTHERN CORP COM COM 655844108 2,167,066 2,167,066 157,404 0.1384
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.