Norfolk Southern Corporation
MX ˙ BMV ˙ US6558441084
SecurityMX:NSC / Norfolk Southern Corporation
InstitutionMagellan Asset Management Ltd
ManagerHamish Douglass
Latest Disclosed Ownership206,026 shares
Latest Disclosed Value $ 59,129,462
Magellan Asset Management Ltd reports 10.13% decrease in ownership of NSC / Norfolk Southern Corporation

On May 11, 2026 - Magellan Asset Management Ltd filed a 13F-HR form disclosing ownership of 206,026 shares of Norfolk Southern Corporation (MX:NSC) valued at $59,129,462 USD as of March 31, 2026. The entity filed a previous 13F-HR on February 10, 2026 disclosing 229,244 shares of Norfolk Southern Corporation. This represents a change in shares of -10.13% 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 206,026 -23,218 -10.13 59,129 -10.66 0.7671
2026-02-10 2025-12-31 13F NORFOLK SOUTHN COM 655844108 229,244 -23,604 -9.34 66,187 -12.86 0.8046
2025-11-10 2025-09-30 13F NORFOLK SOUTHN COM 655844108 252,848 -145,419 -36.51 75,958 -25.49 0.8996
2025-08-07 2025-06-30 13F NORFOLK SOUTHN COM 655844108 398,267 -60,053 -13.10 101,944 -6.09 1.1653
2025-05-12 2025-03-31 13F NORFOLK SOUTHN COM 655844108 458,320 -303,325 -39.82 108,553 -39.27 1.3198
2025-02-12 2024-12-31 13F NORFOLK SOUTHN COM 655844108 761,645 -25,437 -3.23 178,758 -8.61 1.9639
2024-11-14 2024-09-30 13F NORFOLK SOUTHN COM 655844108 787,082 -175,447 -18.23 195,590 -5.35 1.9473
2024-08-13 2024-06-30 13F NORFOLK SOUTHN COM 655844108 962,529 131,756 15.86 206,645 -2.41 1.9673
2024-05-14 2024-03-31 13F NORFOLK SOUTHN COM 655844108 830,773 -139,350 -14.36 211,739 -7.67 2.0225
2024-02-13 2023-12-31 13F NORFOLK SOUTHN COM 655844108 970,123 -54,686 -5.34 229,318 13.63 2.2847
2023-11-13 2023-09-30 13F NORFOLK SOUTHN COM 655844108 1,024,809 44,912 4.58 201,816 -9.17 2.1448
2023-08-11 2023-06-30 13F NORFOLK SOUTHN COM 655844108 979,897 -55,490 -5.36 222,201 1.23 1.9774
2023-05-12 2023-03-31 13F NORFOLK SOUTHN COM 655844108 1,035,387 86,264 9.09 219,502 -6.15 1.8745
2023-02-13 2022-12-31 13F NORFOLK SOUTHN COM 655844108 949,123 -46,673 -4.69 233,883 12.03 2.0010
2022-11-10 2022-09-30 13F NORFOLK SOUTHN COM 655844108 995,796 -40,380 -3.90 208,769 -11.36 1.4592
2022-08-12 2022-06-30 13F NORFOLK SOUTHN COM 655844108 1,036,176 -35,631 -3.32 235,512 -22.96 1.2855
2022-05-13 2022-03-31 13F NORFOLK SOUTHN COM 655844108 1,071,807 41,515 4.03 305,701 -0.33 1.1837
2022-02-11 2021-12-31 13F NORFOLK SOUTHN COM 655844108 1,030,292 -840 -0.08 306,728 24.33 0.7813
2021-11-04 2021-09-30 13F NORFOLK SOUTHN COM 655844108 1,031,132 -16,851 -1.61 246,698 -11.31 0.4929
2021-08-12 2021-06-30 13F NORFOLK SOUTHN COM 655844108 1,047,983 10,151 0.98 278,145 -0.19 0.5505
2021-05-13 2021-03-31 13F NORFOLK SOUTHN COM 655844108 1,037,832 467,573 81.99 278,679 105.67 0.5830
2021-02-11 2020-12-31 13F NORFOLK SOUTHN COM 655844108 570,259 570,164 600,172.63 135,499 677,395.00 0.3134
2020-11-12 2020-09-30 13F NORFOLK SOUTHERN COM 655844108 95 95 20 0.0001
2018-02-14 2017-12-31 13F NORFOLK SOUTHERN COM 655844108 0 -68,267 -100.00 0 -100.00
2017-11-13 2017-09-30 13F NORFOLK SOUTHERN COM 655844108 68,267 -297,616 -81.34 9,028 -79.73 0.0340
2017-08-11 2017-06-30 13F NORFOLK SOUTHERN COM 655844108 365,883 -19,722 -5.11 44,528 3.55 0.1868
2017-05-16 2017-03-31 13F NORFOLK SOUTHERN COM 655844108 385,605 34,666 9.88 43,000 13.38 0.1898
2017-02-15 2016-12-31 13F NORFOLK SOUTHERN COM 655844108 350,939 16,227 4.85 37,926 16.74 0.1779
2016-11-14 2016-09-30 13F NORFOLK SOUTHERN COM 655844108 334,712 334,712 32,487 0.1629
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.