Norfolk Southern Corporation
US ˙ NYSE ˙ US6558441084

SecurityNSC / Norfolk Southern Corporation
InstitutionMarkel Corp
Latest Disclosed Ownership282,500 shares
Latest Disclosed Value $ 81,077,500
Markel Corp reports 3.29% increase in ownership of NSC / Norfolk Southern Corporation

On May 1, 2026 - Markel Corp filed a 13F-HR form disclosing ownership of 282,500 shares of Norfolk Southern Corporation (US:NSC) valued at $81,077,500 USD as of March 31, 2026. The entity filed a previous 13F-HR on February 6, 2026 disclosing 273,500 shares of Norfolk Southern Corporation. This represents a change in shares of 3.29% during the quarter. The current value of the position is $86,193,575 USD.

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)
2026-05-01 2026-03-31 13F NORFOLK SOUTHN COM 655844108 282,500 9,000 3.29 81,078 2.68 0.5856
2026-02-06 2025-12-31 13F NORFOLK SOUTHN COM 655844108 273,500 17,000 6.63 78,965 2.48 0.6295
2025-10-31 2025-09-30 13F NORFOLK SOUTHN COM 655844108 256,500 20,000 8.46 77,055 27.29 0.6254
2025-08-01 2025-06-30 13F NORFOLK SOUTHN COM 655844108 236,500 7,000 3.05 60,537 11.37 0.5118
2025-05-02 2025-03-31 13F NORFOLK SOUTHN COM 655844108 229,500 0 0.00 54,357 0.92 0.4827
2025-02-07 2024-12-31 13F NORFOLK SOUTHN COM 655844108 229,500 0 0.00 53,864 -5.55 0.4748
2024-11-01 2024-09-30 13F NORFOLK SOUTHN COM 655844108 229,500 0 0.00 57,031 15.75 0.5133
2024-08-02 2024-06-30 13F NORFOLK SOUTHN COM 655844108 229,500 0 0.00 49,271 -15.76 0.4847
2024-05-03 2024-03-31 13F NORFOLK SOUTHN COM 655844108 229,500 0 0.00 58,493 7.82 0.5768
2024-02-02 2023-12-31 13F NORFOLK SOUTHN COM 655844108 229,500 0 0.00 54,249 20.03 0.5897
2023-11-03 2023-09-30 13F NORFOLK SOUTHN COM 655844108 229,500 0 0.00 45,195 -13.16 0.5456
2023-08-04 2023-06-30 13F NORFOLK SOUTHN COM 655844108 229,500 0 0.00 52,041 6.96 0.6196
2023-04-28 2023-03-31 13F NORFOLK SOUTHN COM 655844108 229,500 0 0.00 48,654 -13.97 0.6190
2023-02-03 2022-12-31 13F NORFOLK SOUTHN COM 655844108 229,500 0 0.00 56,553 17.54 0.7583
2022-11-04 2022-09-30 13F NORFOLK SOUTHN COM 655844108 229,500 0 0.00 48,114 -7.76 0.7102
2022-08-05 2022-06-30 13F NORFOLK SOUTHN COM 655844108 229,500 0 0.00 52,164 -20.31 0.7458
2022-04-29 2022-03-31 13F NORFOLK SOUTHN COM 655844108 229,500 0 0.00 65,458 -4.20 0.7266
2022-02-04 2021-12-31 13F NORFOLK SOUTHN COM 655844108 229,500 0 0.00 68,325 24.44 0.7861
2021-11-05 2021-09-30 13F NORFOLK SOUTHN COM 655844108 229,500 0 0.00 54,908 -9.86 0.6941
2021-08-06 2021-06-30 13F NORFOLK SOUTHN COM 655844108 229,500 0 0.00 60,912 -1.16 0.7711
2021-04-30 2021-03-31 13F NORFOLK SOUTHN COM 655844108 229,500 0 0.00 61,625 13.01 0.8529
2021-02-05 2020-12-31 13F NORFOLK SOUTHN COM 655844108 229,500 0 0.00 54,532 11.04 0.8124
2020-10-30 2020-09-30 13F Norfolk Southern COM 655844108 229,500 0 0.00 49,110 21.88 0.8328
2020-08-03 2020-06-30 13F Norfolk Southern COM 655844108 229,500 0 0.00 40,294 20.26 0.7506
2020-05-01 2020-03-31 13F Norfolk Southern COM 655844108 229,500 0 0.00 33,507 -24.79 0.6302
2020-02-07 2019-12-31 13F Norfolk Southern COM 655844108 229,500 0 0.00 44,552 8.05 0.6185
2019-11-01 2019-09-30 13F Norfolk Southern COM 655844108 229,500 0 0.00 41,232 -9.87 0.6230
2019-08-02 2019-06-30 13F Norfolk Southern COM 655844108 229,500 0 0.00 45,746 6.66 0.7034
2019-05-03 2019-03-31 13F Norfolk Southern COM 655844108 229,500 0 0.00 42,891 24.98 0.7188
2019-02-08 2018-12-31 13F Norfolk Southern COM 655844108 229,500 0 0.00 34,319 -17.15 0.6557
2018-11-02 2018-09-30 13F Norfolk Southern COM 655844108 229,500 0 0.00 41,424 19.64 0.6986
2018-08-03 2018-06-30 13F Norfolk Southern COM 655844108 229,500 0 0.00 34,625 11.11 0.6355
2018-04-27 2018-03-31 13F Norfolk Southern COM 655844108 229,500 0 0.00 31,162 -6.29 0.5924
2018-02-09 2017-12-31 13F Norfolk Southern COM 655844108 229,500 0 0.00 33,255 9.58 0.6279
2017-10-27 2017-09-30 13F Norfolk Southern COM 655844108 229,500 0 0.00 30,349 8.66 0.6043
2017-07-28 2017-06-30 13F Norfolk Southern COM 655844108 229,500 0 0.00 27,930 8.69 0.5957
2017-04-28 2017-03-31 13F Norfolk Southern COM 655844108 229,500 0 0.00 25,697 3.61 0.5789
2017-02-10 2016-12-31 13F Norfolk Southern COM 655844108 229,500 0 0.00 24,802 11.34 0.5978
2016-11-04 2016-09-30 13F Norfolk Southern COM 655844108 229,500 0 0.00 22,275 14.01 0.5742
2016-08-05 2016-06-30 13F Norfolk Southern COM 655844108 229,500 21,000 10.07 19,537 12.55 0.5149
2016-05-06 2016-03-31 13F Norfolk Southern COM 655844108 208,500 1,500 0.72 17,358 -0.87 0.4660
2016-02-16 2015-12-31 13F Norfolk Southern COM 655844108 207,000 55,000 36.18 17,510 50.78 0.4740
2015-11-09 2015-09-30 13F Norfolk Southern COM 655844108 152,000 54,000 55.10 11,613 35.65 0.3059
2015-08-14 2015-06-30 13F Norfolk Southern COM 655844108 98,000 6,000 6.52 8,561 -9.59 0.2138
2015-05-07 2015-03-31 13F Norfolk Southern COM 655844108 92,000 0 0.00 9,469 -6.10 0.2394
2015-02-09 2014-12-31 13F Norfolk Southern COM 655844108 92,000 0 0.00 10,084 -1.78 0.2661
2014-11-12 2014-09-30 13F Norfolk Southern COM 655844108 92,000 0 0.00 10,267 8.31 0.2896
2014-08-08 2014-06-30 13F Norfolk Southern COM 655844108 92,000 0 0.00 9,479 6.03 0.2703
2014-05-13 2014-03-31 13F Norfolk Southern COM 655844108 92,000 -2,400 -2.54 8,940 2.02 0.2745
2014-02-11 2013-12-31 13F Norfolk Southern COM 655844108 94,400 0 0.00 8,763 20.01 0.2770
2013-11-12 2013-09-30 13F Norfolk Southern COM 655844108 94,400 0 0.00 7,302 6.47 0.2503
2013-08-08 2013-06-30 13F Norfolk Southern COM 655844108 94,400 94,400 6,858 0.2453
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.