Norfolk Southern Corporation
MX ˙ BMV ˙ US6558441084
SecurityMX:NSC / Norfolk Southern Corporation
InstitutionNaples Global Advisors, Llc
Latest Disclosed Ownership9,054 shares
Latest Disclosed Value $ 2,598,469
Naples Global Advisors, Llc reports 0.29% increase in ownership of NSC / Norfolk Southern Corporation

On April 20, 2026 - Naples Global Advisors, Llc filed a 13F-HR form disclosing ownership of 9,054 shares of Norfolk Southern Corporation (MX:NSC) valued at $2,598,469 USD as of March 31, 2026. The entity filed a previous 13F-HR on February 4, 2026 disclosing 9,028 shares of Norfolk Southern Corporation. This represents a change in shares of 0.29% 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)
2026-04-20 2026-03-31 13F NORFOLK SOUTHN COM 655844108 9,054 26 0.29 2,598 -0.31 0.1896
2026-02-04 2025-12-31 13F NORFOLK SOUTHN COM 655844108 9,028 -3 -0.03 2,607 -3.91 0.1948
2025-10-30 2025-09-30 13F NORFOLK SOUTHN COM 655844108 9,031 -5 -0.06 2,713 17.30 0.2113
2025-07-18 2025-06-30 13F NORFOLK SOUTHN COM 655844108 9,036 -50 -0.55 2,313 7.48 0.1990
2025-04-10 2025-03-31 13F NORFOLK SOUTHN COM 655844108 9,086 -190 -2.05 2,152 -1.19 0.2045
2025-01-29 2024-12-31 13F NORFOLK SOUTHN COM 655844108 9,276 5 0.05 2,177 -5.47 0.2036
2024-10-24 2024-09-30 13F NORFOLK SOUTHN COM 655844108 9,271 -175 -1.85 2,304 13.62 0.2142
2024-07-18 2024-06-30 13F NORFOLK SOUTHN COM 655844108 9,446 0 0.00 2,028 -15.79 0.2035
2024-04-29 2024-03-31 13F NORFOLK SOUTHN COM 655844108 9,446 15 0.16 2,407 7.99 0.2464
2024-01-11 2023-12-31 13F NORFOLK SOUTHN COM 655844108 9,431 0 0.00 2,229 20.03 0.2452
2023-10-16 2023-09-30 13F NORFOLK SOUTHN COM 655844108 9,431 345 3.80 1,857 -9.85 0.2251
2023-07-17 2023-06-30 13F NORFOLK SOUTHN COM 655844108 9,086 175 1.96 2,060 9.05 0.2417
2023-04-17 2023-03-31 13F NORFOLK SOUTHN COM 655844108 8,911 -130 -1.44 1,889 -15.18 0.2355
2023-04-17 2022-12-31 13F/A-1 NORFOLK SOUTHN COM 655844108 9,041 -225 -2.43 2,228 14.62 0.2831
2023-01-20 2022-12-31 13F NORFOLK SOUTHN COM 655844108 9,041 -225 2,228 0.0003
2022-10-20 2022-09-30 13F NORFOLK SOUTHN COM 655844108 9,266 -100 -1.07 1,943 -8.74 0.2674
2022-08-11 2022-06-30 13F NORFOLK SOUTHN COM 655844108 9,366 145 1.57 2,129 -19.05 0.2763
2022-04-28 2022-03-31 13F NORFOLK SOUTHN COM 655844108 9,221 -670 -6.77 2,630 -10.70 0.3037
2022-02-04 2021-12-31 13F NORFOLK SOUTHN COM 655844108 9,891 -240 -2.37 2,945 21.49 0.3413
2021-10-29 2021-09-30 13F/A-1 NORFOLK SOUTHN COM 655844108 10,131 126 1.26 2,424 -8.70 0.3184
2021-10-25 2021-09-30 13F NORFOLK SOUTHN COM 655844108 10,131 126 2,424 0.3168
2021-08-06 2021-06-30 13F NORFOLK SOUTHN COM 655844108 10,005 -40 -0.40 2,655 -1.56 0.3692
2021-05-10 2021-03-31 13F NORFOLK SOUTHN COM 655844108 10,045 -100 -0.99 2,697 11.86 0.4099
2021-02-08 2020-12-31 13F NORFOLK SOUTHN COM 655844108 10,145 -843 -7.67 2,411 2.55 0.4077
2020-10-26 2020-09-30 13F NORFOLK SOUTHN COM 655844108 10,988 -50 -0.45 2,351 21.31 0.4583
2020-08-04 2020-06-30 13F NORFOLK SOUTHERN COM 655844108 11,038 50 0.46 1,938 20.82 0.4176
2020-04-27 2020-03-31 13F NORFOLK SOUTHERN COM 655844108 10,988 -239 -2.13 1,604 -26.39 0.4204
2020-02-05 2019-12-31 13F Norfolk Southern COM 655844108 11,227 -95 -0.84 2,179 7.13 0.4575
2019-10-28 2019-09-30 13F Norfolk Southern COM 655844108 11,322 255 2.30 2,034 -7.80 0.4751
2019-07-10 2019-06-30 13F Norfolk Southern COM 655844108 11,067 -125 -1.12 2,206 5.45 0.5367
2019-04-29 2019-03-31 13F Norfolk Southern COM 655844108 11,192 -239 -2.09 2,092 13.39 0.5348
2019-02-01 2018-12-31 13F Norfolk Southern COM 655844108 11,431 -280 -2.39 1,845 -12.72 0.5251
2018-11-13 2018-09-30 13F/A-1 Norfolk Southern COM 655844108 11,711 -15 -0.13 2,114 19.50 0.5609
2018-11-13 2018-09-30 13F Norfolk Southern COM 655844108 11,726 0 1,769
2018-07-23 2018-06-30 13F Norfolk Southern COM 655844108 11,726 -828 -6.60 1,769 3.75 0.4983
2018-04-17 2018-03-31 13F Norfolk Southern COM 655844108 12,554 1,325 11.80 1,705 4.79 0.5058
2018-01-19 2017-12-31 13F Norfolk Southern COM 655844108 11,229 -15 -0.13 1,627 9.41 0.4804
2017-10-16 2017-09-30 13F Norfolk Southern COM 655844108 11,244 -65 -0.57 1,487 8.07 0.4964
2017-07-25 2017-06-30 13F Norfolk Southern COM 655844108 11,309 -125 -1.09 1,376 7.50 0.4881
2017-04-21 2017-03-31 13F Norfolk Southern COM 655844108 11,434 -150 -1.29 1,280 2.24 0.4594
2017-01-30 2016-12-31 13F Norfolk Southern COM 655844108 11,584 -400 -3.34 1,252 7.65 0.4875
2016-10-11 2016-09-30 13F Norfolk Southern COM 655844108 11,984 0 0.00 1,163 14.02 0.4548
2016-07-13 2016-06-30 13F Norfolk Southern COM 655844108 11,984 450 3.90 1,020 6.25 0.4175
2016-04-13 2016-03-31 13F Norfolk Southern COM 655844108 11,534 1,690 17.17 960 15.25 0.4023
2016-01-25 2015-12-31 13F Norfolk Southern COM 655844108 9,844 -150 -1.50 833 9.03 0.4036
2015-10-14 2015-09-30 13F Norfolk Southern COM 655844108 9,994 -1,745 -14.86 764 -25.54 0.3926
2015-07-27 2015-06-30 13F Norfolk Southern COM 655844108 11,739 299 2.61 1,026 -12.83 0.4924
2015-04-15 2015-03-31 13F Norfolk Southern COM 655844108 11,440 1,346 13.33 1,177 6.42 0.5594
2015-01-22 2014-12-31 13F Norfolk Southern COM 655844108 10,094 -100 -0.98 1,106 -2.81 0.5851
2014-10-16 2014-09-30 13F Norfolk Southern COM 655844108 10,194 0 0.00 1,138 8.38 0.6706
2014-07-14 2014-06-30 13F Norfolk Southern COM 655844108 10,194 0 0.00 1,050 5.95 0.6226
2014-04-07 2014-03-31 13F Norfolk Southern COM 655844108 10,194 0 0.00 991 4.76 0.6061
2014-01-16 2013-12-31 13F Norfolk Southern COM 655844108 10,194 10,194 946 0.6309
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.