Norfolk Southern Corporation
MX ˙ BMV ˙ US6558441084
SecurityMX:NSC / Norfolk Southern Corporation
InstitutionSmith, Salley & Associates
Latest Disclosed Ownership2,050 shares
Latest Disclosed Value $ 588,299
Smith, Salley & Associates reports 3.67% decrease in ownership of NSC / Norfolk Southern Corporation

On April 16, 2026 - Smith, Salley & Associates filed a 13F-HR form disclosing ownership of 2,050 shares of Norfolk Southern Corporation (MX:NSC) valued at $588,299 USD as of March 31, 2026. The entity filed a previous 13F-HR on January 27, 2026 disclosing 2,128 shares of Norfolk Southern Corporation. This represents a change in shares of -3.67% 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)
2026-04-16 2026-03-31 13F NORFOLK SOUTHN COM 655844108 2,050 -78 -3.67 588 -4.23 0.0296
2026-01-27 2025-12-31 13F NORFOLK SOUTHN COM 655844108 2,128 -33 -1.53 614 -5.39 0.0304
2025-10-20 2025-09-30 13F NORFOLK SOUTHN COM 655844108 2,161 -265 -10.92 649 4.51 0.0334
2025-07-17 2025-06-30 13F NORFOLK SOUTHN COM 655844108 2,426 -67 -2.69 621 5.25 0.0359
2025-04-25 2025-03-31 13F NORFOLK SOUTHN COM 655844108 2,493 1,069 75.07 591 76.65 0.0387
2025-01-15 2024-12-31 13F NORFOLK SOUTHN COM 655844108 1,424 0 0.00 334 -5.38 0.0215
2024-10-24 2024-09-30 13F NORFOLK SOUTHN COM 655844108 1,424 -6 -0.42 354 14.98 0.0231
2024-07-29 2024-06-30 13F NORFOLK SOUTHN COM 655844108 1,430 -60 -4.03 307 -19.00 0.0220
2024-05-02 2024-03-31 13F NORFOLK SOUTHN COM 655844108 1,490 -8,678 -85.35 380 -84.23 0.0295
2024-01-24 2023-12-31 13F NORFOLK SOUTHN COM 655844108 10,168 7,233 246.44 2,404 316.46 0.1553
2023-10-27 2023-09-30 13F NORFOLK SOUTHN COM 655844108 2,935 -50 -1.68 578 -14.64 0.0429
2023-08-04 2023-06-30 13F NORFOLK SOUTHN COM 655844108 2,985 -73 -2.39 677 4.32 0.0499
2023-05-03 2023-03-31 13F NORFOLK SOUTHN COM 655844108 3,058 -227 -6.91 648 -19.90 0.0516
2023-02-03 2022-12-31 13F NORFOLK SOUTHN COM 655844108 3,285 -25 -0.76 809 16.57 0.0692
2022-11-01 2022-09-30 13F NORFOLK SOUTHN COM 655844108 3,310 9 0.27 694 -7.47 0.0646
2022-08-01 2022-06-30 13F NORFOLK SOUTHN COM 655844108 3,301 -12 -0.36 750 -20.63 0.0649
2022-05-10 2022-03-31 13F NORFOLK SOUTHN COM 655844108 3,313 -468 -12.38 945 -16.07 0.0695
2022-02-10 2021-12-31 13F NORFOLK SOUTHN COM 655844108 3,781 -14 -0.37 1,126 24.01 0.0798
2021-11-05 2021-09-30 13F NORFOLK SOUTHN COM 655844108 3,795 0 0.00 908 -9.83 0.0715
2021-08-09 2021-06-30 13F NORFOLK SOUTHN COM 655844108 3,795 -206 -5.15 1,007 -6.24 0.0815
2021-04-30 2021-03-31 13F NORFOLK SOUTHN COM 655844108 4,001 -2,182 -35.29 1,074 -26.94 0.0964
2021-01-28 2020-12-31 13F NORFOLK SOUTHN COM 655844108 6,183 3 0.05 1,470 11.20 0.1489
2020-11-05 2020-09-30 13F NORFOLK SOUTHN COM 655844108 6,180 -278 -4.30 1,322 16.58 0.1598
2020-08-04 2020-06-30 13F NORFOLK SOUTHERN COM 655844108 6,458 -109 -1.66 1,134 18.25 0.1513
2020-04-24 2020-03-31 13F NORFOLK SOUTHERN COM 655844108 6,567 -238 -3.50 959 -27.40 0.1595
2020-01-27 2019-12-31 13F NORFOLK SOUTHERN COM 655844108 6,805 -100 -1.45 1,321 6.53 0.1742
2019-10-30 2019-09-30 13F NORFOLK SOUTHERN COM 655844108 6,905 -34 -0.49 1,240 -10.34 0.1762
2019-07-12 2019-06-30 13F NORFOLK SOUTHERN COM 655844108 6,939 165 2.44 1,383 9.24 0.2085
2019-05-03 2019-03-31 13F NORFOLK SOUTHERN COM 655844108 6,774 -40 -0.59 1,266 24.24 0.2038
2019-02-05 2018-12-31 13F NORFOLK SOUTHERN COM 655844108 6,814 -1,943 -22.19 1,019 -35.55 0.1876
2018-11-06 2018-09-30 13F NORFOLK SOUTHERN COM 655844108 8,757 0 0.00 1,581 19.59 0.2495
2018-08-10 2018-06-30 13F NORFOLK SOUTHERN COM 655844108 8,757 -114 -1.29 1,322 9.80 0.2263
2018-05-09 2018-03-31 13F NORFOLK SOUTHERN COM 655844108 8,871 -636 -6.69 1,204 -12.63 0.2158
2018-02-12 2017-12-31 13F NORFOLK SOUTHERN COM 655844108 9,507 -26 -0.27 1,378 9.28 0.2468
2017-11-02 2017-09-30 13F NORFOLK SOUTHERN COM 655844108 9,533 -21 -0.22 1,261 8.52 0.2415
2017-07-25 2017-06-30 13F NORFOLK SOUTHERN COM 655844108 9,554 -13,735 -58.98 1,162 -55.44 0.2336
2017-05-05 2017-03-31 13F NORFOLK SOUTHERN COM 655844108 23,289 -13,509 -36.71 2,608 -34.42 0.5346
2017-02-01 2016-12-31 13F NORFOLK SOUTHERN COM 655844108 36,798 892 2.48 3,977 14.12 0.8280
2016-11-14 2016-09-30 13F NORFOLK SOUTHERN COM 655844108 35,906 3,336 10.24 3,485 25.68 0.7728
2016-07-29 2016-06-30 13F NORFOLK SOUTHERN COM 655844108 32,570 3,011 10.19 2,773 12.68 0.6461
2016-05-10 2016-03-31 13F NORFOLK SOUTHERN COM 655844108 29,559 -2,484 -7.75 2,461 -9.22 0.6167
2016-02-10 2015-12-31 13F NORFOLK SOUTHERN COM 655844108 32,043 5,411 20.32 2,711 33.28 0.6758
2015-11-12 2015-09-30 13F NORFOLK SOUTHERN COM 655844108 26,632 5,444 25.69 2,034 9.89 0.5489
2015-08-11 2015-06-30 13F NORFOLK SOUTHERN COM 655844108 21,188 1,256 6.30 1,851 -9.80 0.4712
2015-05-05 2015-03-31 13F NORFOLK SOUTHERN COM 655844108 19,932 19,932 0.00 2,052 0.5229
2015-02-04 2014-12-31 13F Norfold Southern COM 655844108 0 -16,219 -100.00 0 -100.00
2014-11-12 2014-09-30 13F Norfold Southern COM 655844108 16,219 4,113 33.97 1,810 45.15 0.4803
2014-08-13 2014-06-30 13F NORFOLK SOUTHERN COM 655844108 12,106 6,144 103.05 1,247 115.37 0.3330
2014-05-12 2014-03-31 13F Norfolk Southern Crp COM 655844108 5,962 1,196 25.09 579 31.00 0.3619
2014-02-11 2013-12-31 13F Norfolk Southern Crp COM 655844108 4,766 1,250 35.55 442 62.50 0.2884
2013-11-12 2013-09-30 13F Norfolk Southern Crp COM 655844108 3,516 3,516 272 0.2191
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.