Norfolk Southern Corporation
MX ˙ BMV ˙ US6558441084
SecurityMX:NSC / Norfolk Southern Corporation
InstitutionCommerce Bank
Latest Disclosed Ownership42,295 shares
Latest Disclosed Value $ 12,138,665
Commerce Bank reports 15.50% increase in ownership of NSC / Norfolk Southern Corporation

On May 11, 2026 - Commerce Bank filed a 13F-HR form disclosing ownership of 42,295 shares of Norfolk Southern Corporation (MX:NSC) valued at $12,138,665 USD as of March 31, 2026. The entity filed a previous 13F-HR on February 13, 2026 disclosing 36,620 shares of Norfolk Southern Corporation. This represents a change in shares of 15.50% 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)
2026-05-11 2026-03-31 13F NORFOLK SOUTHN COM 655844108 42,295 5,675 15.50 12,139 14.81 0.0588
2026-02-13 2025-12-31 13F NORFOLK SOUTHN COM 655844108 36,620 927 2.60 10,573 -1.40 0.0584
2025-11-12 2025-09-30 13F NORFOLK SOUTHN COM 655844108 35,693 -905 -2.47 10,723 14.47 0.0597
2025-08-07 2025-06-30 13F NORFOLK SOUTHN COM 655844108 36,598 -435 -1.17 9,368 6.80 0.0553
2025-05-08 2025-03-31 13F NORFOLK SOUTHN COM 655844108 37,033 -1,071 -2.81 8,771 -1.92 0.0560
2025-02-13 2024-12-31 13F NORFOLK SOUTHN COM 655844108 38,104 -1,231 -3.13 8,943 -8.50 0.0551
2024-11-08 2024-09-30 13F NORFOLK SOUTHN COM 655844108 39,335 -358 -0.90 9,775 14.70 0.0599
2024-08-12 2024-06-30 13F NORFOLK SOUTHN COM 655844108 39,693 2,240 5.98 8,522 -10.73 0.0552
2024-05-03 2024-03-31 13F NORFOLK SOUTHN COM 655844108 37,453 -1,179 -3.05 9,546 4.53 0.0631
2024-02-09 2023-12-31 13F NORFOLK SOUTHN COM 655844108 38,632 -871 -2.20 9,132 17.38 0.0650
2023-11-14 2023-09-30 13F NORFOLK SOUTHN COM 655844108 39,503 156 0.40 7,779 -12.81 0.0613
2023-08-08 2023-06-30 13F NORFOLK SOUTHN COM 655844108 39,347 -1,371 -3.37 8,922 3.36 0.0668
2023-05-04 2023-03-31 13F NORFOLK SOUTHN COM 655844108 40,718 -463 -1.12 8,632 -14.93 0.0676
2023-02-10 2022-12-31 13F NORFOLK SOUTHN COM 655844108 41,181 -1,134 -2.68 10,148 14.38 0.0824
2022-11-04 2022-09-30 13F NORFOLK SOUTHN COM 655844108 42,315 -1,425 -3.26 8,871 -10.77 0.0771
2022-08-12 2022-06-30 13F NORFOLK SOUTHN COM 655844108 43,740 284 0.65 9,942 -19.79 0.0810
2022-05-09 2022-03-31 13F NORFOLK SOUTHN COM 655844108 43,456 -3,257 -6.97 12,395 -10.87 0.0849
2022-02-14 2021-12-31 13F NORFOLK SOUTHN COM 655844108 46,713 45 0.10 13,907 24.55 0.0909
2021-11-09 2021-09-30 13F NORFOLK SOUTHN COM 655844108 46,668 849 1.85 11,166 -8.18 0.0790
2021-08-09 2021-06-30 13F NORFOLK SOUTHN COM 655844108 45,819 -17 -0.04 12,161 -1.19 0.0863
2021-05-05 2021-03-31 13F NORFOLK SOUTHN COM 655844108 45,836 186 0.41 12,308 13.47 0.0936
2021-02-09 2020-12-31 13F NORFOLK SOUTHN COM 655844108 45,650 318 0.70 10,847 11.81 0.0877
2020-11-06 2020-09-30 13F NORFOLK SOUTHN COM 655844108 45,332 3,171 7.52 9,701 31.06 0.0877
2020-08-07 2020-06-30 13F NORFOLK SOUTHERN COM 655844108 42,161 -3,895 -8.46 7,402 10.08 0.0721
2020-05-08 2020-03-31 13F NORFOLK SOUTHERN COM 655844108 46,056 2,657 6.12 6,724 -20.19 0.0814
2020-02-14 2019-12-31 13F NORFOLK SOUTHERN COM 655844108 43,399 131 0.30 8,425 8.37 0.0802
2019-11-12 2019-09-30 13F NORFOLK SOUTHERN COM 655844108 43,268 -260 -0.60 7,774 -10.41 0.0798
2019-08-07 2019-06-30 13F NORFOLK SOUTHERN COM 655844108 43,528 -494 -1.12 8,677 5.47 0.0973
2019-05-08 2019-03-31 13F NORFOLK SOUTHERN COM 655844108 44,022 -6,961 -13.65 8,227 7.91 0.0974
2019-02-11 2018-12-31 13F NORFOLK SOUTHERN COM 655844108 50,983 4,256 9.11 7,624 -9.61 0.0971
2018-11-02 2018-09-30 13F NORFOLK SOUTHERN COM 655844108 46,727 -109 -0.23 8,435 19.37 0.1004
2018-08-08 2018-06-30 13F NORFOLK SOUTHERN COM 655844108 46,836 1,083 2.37 7,066 13.75 0.0898
2018-05-03 2018-03-31 13F NORFOLK SOUTHERN COM 655844108 45,753 -4,692 -9.30 6,212 -15.02 0.0820
2018-02-12 2017-12-31 13F NORFOLK SOUTHERN COM 655844108 50,445 -992 -1.93 7,310 7.47 0.0952
2017-11-07 2017-09-30 13F/A-1 NORFOLK SOUTHERN COM 655844108 51,437 200 0.39 6,802 9.09 0.0924
2017-11-07 2017-09-30 13F NORFOLK SOUTHERN COM 655844108 51,237 6,235
2017-08-08 2017-06-30 13F NORFOLK SOUTHERN COM 655844108 51,237 -468 -0.91 6,235 7.70 0.0874
2017-05-05 2017-03-31 13F NORFOLK SOUTHERN COM 655844108 51,705 9 0.02 5,789 3.62 0.0825
2017-02-08 2016-12-31 13F NORFOLK SOUTHERN COM 655844108 51,696 -5,856 -10.18 5,587 0.02 0.0834
2016-11-03 2016-09-30 13F NORFOLK SOUTHERN COM 655844108 57,552 -9,084 -13.63 5,586 -1.53 0.0870
2016-08-09 2016-06-30 13F NORFOLK SOUTHERN COM 655844108 66,636 383 0.58 5,673 2.86 0.0897
2016-04-27 2016-03-31 13F NORFOLK SOUTHERN COM 655844108 66,253 -2,046 -3.00 5,515 -4.55 0.0916
2016-02-12 2015-12-31 13F NORFOLK SOUTHERN COM 655844108 68,299 562 0.83 5,778 11.65 0.0967
2015-11-10 2015-09-30 13F NORFOLK SOUTHERN COM 655844108 67,737 -7,500 -9.97 5,175 -21.27 0.0890
2015-08-03 2015-06-30 13F NORFOLK SOUTHERN COM 655844108 75,237 -420 -0.56 6,573 -15.58 0.1029
2015-05-06 2015-03-31 13F NORFOLK SOUTHERN COM 655844108 75,657 900 1.20 7,786 -4.98 0.1210
2015-02-11 2014-12-31 13F NORFOLK SOUTHERN COM 655844108 74,757 -707 -0.94 8,194 -2.71 0.1295
2014-11-06 2014-09-30 13F NORFOLK SOUTHERN COM 655844108 75,464 -1,328 -1.73 8,422 6.45 0.1390
2014-08-05 2014-06-30 13F NORFOLK SOUTHERN COM 655844108 76,792 -225 -0.29 7,912 5.72 0.1293
2014-05-09 2014-03-31 13F NORFOLK SOUTHERN COM 655844108 77,017 3,523 4.79 7,484 9.70 0.1274
2014-02-14 2013-12-31 13F NORFOLK SOUTHERN COM 655844108 73,494 -514 -0.69 6,822 19.16 0.1182
2013-11-05 2013-09-30 13F/A-1 NORFOLK SOUTHERN COM 655844108 56,483 -37,148 4,198 0.0757
2013-11-05 2013-09-30 13F/A-2 NORFOLK SOUTHERN COM 655844108 74,008 -19,623 -20.96 5,725 -15.83 0.1033
2013-11-04 2013-09-30 13F NORFOLK SOUTHERN COM 655844108 56,483 4,198
2013-08-07 2013-06-30 13F NORFOLK SOUTHERN COM 655844108 93,631 33,408 55.47 6,802 46.53 0.1265
2013-08-08 2013-03-31 13F/A-1 NORFOLK SOUTHERN COM 655844108 60,223 60,223 4,642 0.0906
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.