Norfolk Southern Corporation
MX ˙ BMV ˙ US6558441084
SecurityMX:NSC / Norfolk Southern Corporation
InstitutionTufton Capital Management
Latest Disclosed Ownership33,344 shares
Latest Disclosed Value $ 9,569
Tufton Capital Management reports 1.25% decrease in ownership of NSC / Norfolk Southern Corporation

On May 12, 2026 - Tufton Capital Management filed a 13F-HR form disclosing ownership of 33,344 shares of Norfolk Southern Corporation (MX:NSC) valued at $9,569 USD as of March 31, 2026. The entity filed a previous 13F-HR on January 28, 2026 disclosing 33,766 shares of Norfolk Southern Corporation. This represents a change in shares of -1.25% 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)
2026-05-12 2026-03-31 13F NORFOLK SOUTHN CORP COM COM 655844108 33,344 -422 -1.25 10 0.00 1.7408
2026-01-28 2025-12-31 13F NORFOLK SOUTHERN COM 655844108 33,766 -342 -1.00 10 -10.00 1.7040
2025-10-31 2025-09-30 13F NORFOLK SOUTHERN COM 655844108 34,108 -184 -0.54 10 25.00 1.8264
2025-08-05 2025-06-30 13F NORFOLK SOUTHERN COM 655844108 34,292 -877 -2.49 9 -99.90 1.6688
2025-05-06 2025-03-31 13F NORFOLK SOUTHERN COM 655844108 35,169 -145 -0.41 8,330 0.49 1.6045
2025-02-05 2024-12-31 13F NORFOLK SOUTHERN COM 655844108 35,314 31 0.09 8,288 -5.46 1.5677
2024-11-08 2024-09-30 13F NORFOLK SOUTHERN COM 655844108 35,283 -1,293 -3.54 8,768 11.65 1.6437
2024-07-31 2024-06-30 13F NORFOLK SOUTHERN COM 655844108 36,576 -294 -0.80 7,853 -16.44 1.5271
2024-05-07 2024-03-31 13F NORFOLK SOUTHERN COM 655844108 36,870 -3 -0.01 9,397 7.81 1.8455
2024-01-31 2023-12-31 13F NORFOLK SOUTHERN COM 655844108 36,873 -1,359 -3.55 8,716 15.77 1.8284
2023-10-30 2023-09-30 13F/A-1 NORFOLK SOUTHERN COM 655844108 38,232 1,064 2.86 7,529 -10.67 1.6798
2023-10-30 2023-09-30 13F NORFOLK SOUTHERN COM 655844108 38,232 1,064 7,529 1.6798
2023-07-28 2023-06-30 13F NORFOLK SOUTHERN COM 655844108 37,168 -648 -1.71 8,428 5.13 1.8183
2023-04-19 2023-03-31 13F NORFOLK SOUTHERN COM 655844108 37,816 -2,463 -6.11 8,017 -19.22 1.7339
2023-01-26 2022-12-31 13F NORFOLK SOUTHERN COM 655844108 40,279 -487 -1.19 9,926 16.14 2.1836
2022-10-21 2022-09-30 13F NORFOLK SOUTHERN COM 655844108 40,766 -8,992 -18.07 8,546 -24.43 2.0629
2022-07-20 2022-06-30 13F NORFOLK SOUTHERN COM 655844108 49,758 503 1.02 11,309 -19.50 2.1125
2022-04-25 2022-03-31 13F NORFOLK SOUTHERN COM 655844108 49,255 -765 -1.53 14,048 -5.66 2.2706
2022-01-28 2021-12-31 13F NORFOLK SOUTHERN COM 655844108 50,020 -133 -0.27 14,891 24.10 2.2864
2021-10-21 2021-09-30 13F NORFOLK SOUTHERN COM 655844108 50,153 1,596 3.29 11,999 -6.89 2.0311
2021-07-29 2021-06-30 13F NORFOLK SOUTHERN COM 655844108 48,557 -743 -1.51 12,887 -2.65 2.1165
2021-04-22 2021-03-31 13F NORFOLK SOUTHERN COM 655844108 49,300 -1,002 -1.99 13,238 10.76 2.2616
2021-02-01 2020-12-31 13F NORFOLK SOUTHERN COM 655844108 50,302 -1 -0.00 11,952 11.04 2.2040
2020-10-23 2020-09-30 13F NORFOLK SOUTHERN COM 655844108 50,303 -1,453 -2.81 10,764 18.47 2.2238
2020-07-27 2020-06-30 13F NORFOLK SOUTHERN COM 655844108 51,756 839 1.65 9,086 22.24 2.0010
2020-04-23 2020-03-31 13F NORFOLK SOUTHERN COM 655844108 50,917 -70 -0.14 7,433 -24.90 1.9056
2020-01-24 2019-12-31 13F NORFOLK SOUTHERN COM 655844108 50,987 -21 -0.04 9,898 8.01 1.9479
2019-10-25 2019-09-30 13F NORFOLK SOUTHERN COM 655844108 51,008 -466 -0.91 9,164 -10.68 1.9338
2019-07-26 2019-06-30 13F NORFOLK SOUTHERN CORP COM COM 655844108 51,474 -11,264 -17.95 10,260 -12.49 2.1695
2019-04-29 2019-03-31 13F NORFOLK SOUTHERN CORP COM COM 655844108 62,738 -354 -0.56 11,725 24.28 2.4971
2019-01-28 2018-12-31 13F NORFOLK SOUTHERN CORP COM COM 655844108 63,092 -103 -0.16 9,434 -17.29 2.3144
2018-10-26 2018-09-30 13F NORFOLK SOUTHERN CORP COM COM 655844108 63,195 -6,012 -8.69 11,406 9.24 2.4264
2018-08-06 2018-06-30 13F NORFOLK SOUTHERN CORP COM COM 655844108 69,207 -1,448 -2.05 10,441 8.84 2.2390
2018-04-23 2018-03-31 13F NORFOLK SOUTHERN CORP COM COM 655844108 70,655 384 0.55 9,593 -5.78 1.8928
2018-01-26 2017-12-31 13F NORFOLK SOUTHERN CORP COM COM 655844108 70,271 -2,041 -2.82 10,182 6.47 1.9614
2017-10-20 2017-09-30 13F NORFOLK SOUTHERN CORP COM COM 655844108 72,312 -520 -0.71 9,563 7.89 1.9129
2017-07-28 2017-06-30 13F NORFOLK SOUTHERN CORP COM COM 655844108 72,832 -11,655 -13.80 8,864 -6.30 1.7989
2017-04-28 2017-03-31 13F NORFOLK SOUTHERN CORP COM COM 655844108 84,487 -1,145 -1.34 9,460 2.23 1.8641
2017-01-31 2016-12-31 13F NORFOLK SOUTHERN CORP COM COM 655844108 85,632 -1,956 -2.23 9,254 8.86 1.8775
2016-10-21 2016-09-30 13F NORFOLK SOUTHERN CORP COM COM 655844108 87,588 387 0.44 8,501 14.52 1.7139
2016-07-26 2016-06-30 13F NORFOLK SOUTHERN CORP COM COM 655844108 87,201 -3,350 -3.70 7,423 -1.53 1.5030
2016-04-13 2016-03-31 13F NORFOLK SOUTHERN CORP COM COM 655844108 90,551 -155 -0.17 7,538 -1.76 1.8767
2016-01-19 2015-12-31 13F NORFOLK SOUTHERN CORP COM COM 655844108 90,706 -28 -0.03 7,673 10.69 1.8881
2015-10-22 2015-09-30 13F NORFOLK SOUTHERN COM 655844108 90,734 5,477 6.42 6,932 -6.93 1.5231
2015-07-23 2015-06-30 13F NORFOLK SOUTHERN COM 655844108 85,257 -3,113 -3.52 7,448 -18.11 1.5047
2015-04-22 2015-03-31 13F NORFOLK SOUTHERN COM 655844108 88,370 88,370 0.00 9,095 1.6671
2015-02-02 2014-12-31 13F NORFOLK SOUTHERN COM 655844108 0 -87,980 -100.00 0 -100.00
2014-11-07 2014-09-30 13F NORFOLK SOUTHERN COM 655844108 87,980 -1,455 -1.63 9,819 6.57 1.8443
2014-07-16 2014-06-30 13F NORFOLK SOUTHERN COM 655844108 89,435 632 0.71 9,214 6.78 1.8670
2014-04-22 2014-03-31 13F NORFOLK SOUTHERN COM 655844108 88,803 480 0.54 8,629 5.24 1.8035
2014-01-30 2013-12-31 13F NORFOLK SOUTHERN COM 655844108 88,323 -673 -0.76 8,199 19.10 1.7560
2013-10-30 2013-09-30 13F NORFOLK SOUTHERN COM 655844108 88,996 -1,465 -1.62 6,884 4.75 1.6224
2013-07-18 2013-06-30 13F NORFOLK SOUTHERN COM 655844108 90,461 90,461 6,572 1.5782
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.