Norfolk Southern Corporation
MX ˙ BMV ˙ US6558441084
SecurityMX:NSC / Norfolk Southern Corporation
InstitutionSkylands Capital, LLC
Latest Disclosed Ownership55,290 shares
Latest Disclosed Value $ 15,868,230
Skylands Capital, LLC reports 4.47% decrease in ownership of NSC / Norfolk Southern Corporation

On April 22, 2026 - Skylands Capital, LLC filed a 13F-HR form disclosing ownership of 55,290 shares of Norfolk Southern Corporation (MX:NSC) valued at $15,868,230 USD as of March 31, 2026. The entity filed a previous 13F-HR on January 30, 2026 disclosing 57,880 shares of Norfolk Southern Corporation. This represents a change in shares of -4.47% 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)
2026-04-22 2026-03-31 13F NORFOLK SOUTHN COM 655844108 55,290 -2,590 -4.47 15,868 -5.04 2.0796
2026-01-30 2025-12-31 13F NORFOLK SOUTHN COM 655844108 57,880 -1,800 -3.02 16,711 -6.79 2.2671
2025-11-06 2025-09-30 13F NORFOLK SOUTHN COM 655844108 59,680 2,245 3.91 17,928 21.95 2.4781
2025-08-08 2025-06-30 13F NORFOLK SOUTHN COM 655844108 57,435 -3,850 -6.28 14,702 1.28 2.1321
2025-04-25 2025-03-31 13F NORFOLK SOUTHN COM 655844108 61,285 -2,385 -3.75 14,515 -2.86 2.0954
2025-02-04 2024-12-31 13F NORFOLK SOUTHN COM 655844108 63,670 5,900 10.21 14,943 4.10 2.0876
2024-11-01 2024-09-30 13F NORFOLK SOUTHN COM 655844108 57,770 -2,210 -3.68 14,356 11.48 1.9476
2024-07-26 2024-06-30 13F NORFOLK SOUTHN COM 655844108 59,980 13,800 29.88 12,877 9.41 1.8255
2024-05-03 2024-03-31 13F NORFOLK SOUTHN COM 655844108 46,180 -2,085 -4.32 11,770 3.16 1.6259
2024-02-05 2023-12-31 13F NORFOLK SOUTHN COM 655844108 48,265 -8,260 -14.61 11,409 2.49 1.6795
2023-10-27 2023-09-30 13F NORFOLK SOUTHN COM 655844108 56,525 8,565 17.86 11,131 2.35 1.6826
2023-08-03 2023-06-30 13F NORFOLK SOUTHN COM 655844108 47,960 -310 -0.64 10,875 6.27 1.5604
2023-05-04 2023-03-31 13F NORFOLK SOUTHN COM 655844108 48,270 4,900 11.30 10,233 -4.25 1.4965
2023-02-09 2022-12-31 13F NORFOLK SOUTHN COM 655844108 43,370 -12,600 -22.51 10,687 -8.92 1.6928
2022-11-01 2022-09-30 13F NORFOLK SOUTHN COM 655844108 55,970 -1,700 -2.95 11,734 -10.48 1.9279
2022-07-28 2022-06-30 13F NORFOLK SOUTHERN COM 655844108 57,670 -2,800 -4.63 13,108 -24.00 1.9217
2022-05-05 2022-03-31 13F NORFOLK SOUTHERN COM 655844108 60,470 2,015 3.45 17,247 -0.90 2.0878
2022-02-08 2021-12-31 13F NORFOLK SOUTHERN COM 655844108 58,455 -8,750 -13.02 17,403 8.23 2.0093
2021-11-02 2021-09-30 13F NORFOLK SOUTHERN COM 655844108 67,205 8,050 13.61 16,079 2.41 1.9863
2021-08-02 2021-06-30 13F NORFOLK SOUTHERN COM 655844108 59,155 7,350 14.19 15,700 12.86 1.8594
2021-05-04 2021-03-31 13F NORFOLK SOUTHERN COM 655844108 51,805 -2,700 -4.95 13,911 7.41 1.7726
2021-02-09 2020-12-31 13F NORFOLK SOUTHERN COM 655844108 54,505 -1,300 -2.33 12,951 8.45 1.8783
2020-10-27 2020-09-30 13F NORFOLK SOUTHERN COM 655844108 55,805 -30,325 -35.21 11,942 -21.03 1.9912
2020-07-29 2020-06-30 13F NORFOLK SOUTHERN COM 655844108 86,130 -3,070 -3.44 15,122 16.12 2.6724
2020-04-27 2020-03-31 13F NORFOLK SOUTHERN COM 655844108 89,200 14,250 19.01 13,023 -10.49 2.8889
2020-02-11 2019-12-31 13F NORFOLK SOUTHERN COM 655844108 74,950 -17,300 -18.75 14,550 -12.21 2.1125
2019-10-29 2019-09-30 13F NORFOLK SOUTHERN COM 655844108 92,250 5,725 6.62 16,574 -3.90 2.4104
2019-07-29 2019-06-30 13F NORFOLK SOUTHERN COM 655844108 86,525 -8,675 -9.11 17,247 -3.06 2.3723
2019-04-30 2019-03-31 13F NORFOLK SOUTHERN COM 655844108 95,200 -750 -0.78 17,792 24.00 2.4607
2019-02-07 2018-12-31 13F NORFOLK SOUTHERN COM 655844108 95,950 21,000 28.02 14,348 6.06 2.3548
2018-10-22 2018-09-30 13F NORFOLK SOUTHERN COM 655844108 74,950 -11,425 -13.23 13,528 3.81 1.7479
2018-07-24 2018-06-30 13F NORFOLK SOUTHERN COM 655844108 86,375 11,025 14.63 13,031 27.37 1.7150
2018-04-19 2018-03-31 13F NORFOLK SOUTHERN COM 655844108 75,350 -650 -0.86 10,231 -7.09 1.3488
2018-01-16 2017-12-31 13F NORFOLK SOUTHERN COM 655844108 76,000 -36,375 -32.37 11,012 -25.90 1.4187
2017-10-19 2017-09-30 13F NORFOLK SOUTHERN COM 655844108 112,375 -2,075 -1.81 14,860 6.68 1.9755
2017-07-20 2017-06-30 13F NORFOLK SOUTHERN COM 655844108 114,450 -775 -0.67 13,929 7.96 1.9265
2017-04-17 2017-03-31 13F NORFOLK SOUTHERN COM 655844108 115,225 5,925 5.42 12,902 9.23 1.7764
2017-01-19 2016-12-31 13F NORFOLK SOUTHERN COM 655844108 109,300 -58,800 -34.98 11,812 -27.60 1.7956
2016-10-18 2016-09-30 13F NORFOLK SOUTHERN COM 655844108 168,100 -8,100 -4.60 16,316 8.77 2.5547
2016-07-25 2016-06-30 13F NORFOLK SOUTHERN COM 655844108 176,200 16,350 10.23 15,000 12.71 2.4515
2016-04-14 2016-03-31 13F NORFOLK SOUTHERN COM 655844108 159,850 -95,450 -37.39 13,308 -38.38 2.1281
2016-01-19 2015-12-31 13F NORFOLK SOUTHERN COM 655844108 255,300 -193,500 -43.11 21,596 -37.02 3.0850
2015-10-14 2015-09-30 13F NORFOLK SOUTHERN COM 655844108 448,800 -47,450 -9.56 34,288 -20.91 4.6113
2015-07-16 2015-06-30 13F NORFOLK SOUTHERN COM 655844108 496,250 -13,200 -2.59 43,352 -17.32 4.6563
2015-04-16 2015-03-31 13F NORFOLK SOUTHERN COM 655844108 509,450 1,250 0.25 52,433 -5.87 5.3212
2015-01-23 2014-12-31 13F NORFOLK SOUTHERN COM 655844108 508,200 75,325 17.40 55,704 15.31 5.6999
2014-10-23 2014-09-30 13F NORFOLK SOUTHERN COM 655844108 432,875 -8,800 -1.99 48,309 6.16 4.9012
2014-07-22 2014-06-30 13F NORFOLK SOUTHERN COM 655844108 441,675 -11,700 -2.58 45,506 3.30 4.4487
2014-04-21 2014-03-31 13F NORFOLK SOUTHERN COM 655844108 453,375 -17,725 -3.76 44,054 0.74 4.5443
2014-01-23 2013-12-31 13F NORFOLK SOUTHERN COM 655844108 471,100 -27,700 -5.55 43,732 13.35 4.7452
2013-10-22 2013-09-30 13F NORFOLK SOUTHERN COM 655844108 498,800 26,150 5.53 38,582 12.36 4.2997
2013-07-25 2013-06-30 13F NORFOLK SOUTHERN COM 655844108 472,650 472,650 34,338 4.1148
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.