Norfolk Southern Corporation
MX ˙ BMV ˙ US6558441084
SecurityMX:NSC / Norfolk Southern Corporation
InstitutionWelch Group, LLC
Latest Disclosed Ownership14,503 shares
Latest Disclosed Value $ 4,162,285
Welch Group, LLC reports 364.39% increase in ownership of NSC / Norfolk Southern Corporation

On April 21, 2026 - Welch Group, LLC filed a 13F-HR form disclosing ownership of 14,503 shares of Norfolk Southern Corporation (MX:NSC) valued at $4,162,285 USD as of March 31, 2026. The entity filed a previous 13F-HR on January 26, 2026 disclosing 3,123 shares of Norfolk Southern Corporation. This represents a change in shares of 364.39% 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)
2026-04-21 2026-03-31 13F NORFOLK SOUTHN COMMON 655844108 14,503 11,380 364.39 4,162 361.93 0.1564
2026-01-26 2025-12-31 13F NORFOLK SOUTHN COMMON STOCK 655844108 3,123 -90 -2.80 902 -6.63 0.0348
2025-10-14 2025-09-30 13F NORFOLK SOUTHN COMMON 655844108 3,213 1,374 74.71 965 105.32 0.0377
2025-07-25 2025-06-30 13F NORFOLK SOUTHN COMMON 655844108 1,839 -36 -1.92 471 8.80 0.0197
2025-04-08 2025-03-31 13F NORFOLK SOUTHN COMMON 655844108 1,875 -48 -2.50 432 -3.57 0.0190
2025-01-27 2024-12-31 13F NORFOLK SOUTHN COMMON 655844108 1,923 3 0.16 449 -6.08 0.0202
2024-10-24 2024-09-30 13F NORFOLK SOUTHN COMMON 655844108 1,920 29 1.53 477 17.78 0.0207
2024-07-17 2024-06-30 13F NORFOLK SOUTHN COMMON 655844108 1,891 1 0.05 406 -15.80 0.0195
2024-04-09 2024-03-31 13F NORFOLK SOUTHN COMMON 655844108 1,890 -16 -0.84 482 6.89 0.0239
2024-01-23 2023-12-31 13F NORFOLK SOUTHN Common 655844108 1,906 3 0.16 450 20.32 0.0243
2023-10-18 2023-09-30 13F NORFOLK SOUTHN Common 655844108 1,903 100 5.55 375 -8.33 0.0222
2023-07-18 2023-06-30 13F NORFOLK SOUTHN Common 655844108 1,803 0 0.00 409 6.81 0.0234
2023-04-13 2023-03-31 13F NORFOLK SOUTHN Common 655844108 1,803 -363 -16.76 382 -28.33 0.0222
2023-01-30 2022-12-31 13F NORFOLK SOUTHN Common 655844108 2,166 2 0.09 534 17.40 0.0305
2022-10-13 2022-09-30 13F NORFOLK SOUTHN COMMON 655844108 2,164 0 0.00 454 -7.72 0.0296
2022-07-21 2022-06-30 13F NORFOLK SOUTHN COMMON 655844108 2,164 2 0.09 492 -20.26 0.0300
2022-04-29 2022-03-31 13F NORFOLK SOUTHN COMMON 655844108 2,162 2 0.09 617 -4.04 0.0352
2022-01-26 2021-12-31 13F NORFOLK SOUTHN COMMON 655844108 2,160 -186 -7.93 643 14.62 0.0376
2021-11-05 2021-09-30 13F NORFOLK SOUTHN COMMON 655844108 2,346 101 4.50 561 -5.87 0.0380
2021-07-21 2021-06-30 13F NORFOLK SOUTHN COMMON 655844108 2,245 25 1.13 596 0.00 0.0406
2021-04-23 2021-03-31 13F NORFOLK SOUTHN COMMON 655844108 2,220 2 0.09 596 13.09 0.0429
2021-01-25 2020-12-31 13F NORFOLK SOUTHN Common 655844108 2,218 39 1.79 527 13.09 0.0423
2020-10-28 2020-09-30 13F NORFOLK SOUTHN Common 655844108 2,179 226 11.57 466 35.86 0.0407
2020-07-22 2020-06-30 13F NORFOLK SOUTHERN Common 655844108 1,953 1 0.05 343 20.35 0.0320
2020-04-28 2020-03-31 13F NORFOLK SOUTHERN Common 655844108 1,952 335 20.72 285 -9.24 0.0304
2020-01-24 2019-12-31 13F Norfolk Southern Common 655844108 1,617 -1,025 -38.80 314 -33.89 0.0309
2019-11-05 2019-09-30 13F Norfolk Southern Common 655844108 2,642 940 55.23 475 40.12 0.0488
2019-07-11 2019-06-30 13F Norfolk Southern Common 655844108 1,702 34 2.04 339 8.65 0.0362
2019-04-15 2019-03-31 13F Norfolk Southern Common 655844108 1,668 -207 -11.04 312 11.43 0.0343
2019-01-10 2018-12-31 13F Norfolk Southern Common 655844108 1,875 354 23.27 280 1.82 0.0343
2018-11-01 2018-09-30 13F Norfolk Southern Common 655844108 1,521 -280 -15.55 275 1.10 0.0286
2018-07-30 2018-06-30 13F Norfolk Southern Common 655844108 1,801 0 0.00 272 11.02 0.0339
2018-04-23 2018-03-31 13F Norfolk Southern Common 655844108 1,801 722 66.91 245 57.05 0.0310
2018-02-01 2017-12-31 13F Norfolk Southern Common 655844108 1,079 -39 -3.49 156 5.41 0.0242
2017-11-07 2017-09-30 13F Norfolk Southern Common 655844108 1,118 -125 -10.06 148 -1.99 0.0247
2017-08-07 2017-06-30 13F Norfolk Southern Common 655844108 1,243 0 0.00 151 8.63 0.0252
2017-05-01 2017-03-31 13F Norfolk Southern Common 655844108 1,243 -94 -7.03 139 -3.47 0.0262
2017-02-09 2016-12-31 13F Norfolk Southern Common 655844108 1,337 0 0.00 144 10.77 0.0281
2016-10-28 2016-09-30 13F Norfolk Southern Common 655844108 1,337 0 0.00 130 14.04 0.0258
2016-07-27 2016-06-30 13F Norfolk Southern Common 655844108 1,337 0 0.00 114 2.70 0.0232
2016-05-05 2016-03-31 13F Norfolk Southern Common 655844108 1,337 -110 -7.60 111 -9.02 0.0185
2016-01-21 2015-12-31 13F Norfolk Southern Common 655844108 1,447 0 0.00 122 9.91 0.0219
2015-10-23 2015-09-30 13F Norfolk Southern COM 655844108 1,447 0 0.00 111 -11.90 0.0215
2015-07-31 2015-06-30 13F Norfolk Southern Common 655844108 1,447 110 8.23 126 -8.70 0.0239
2015-04-29 2015-03-31 13F Norfolk Southern Common 655844108 1,337 0 0.00 138 -6.12 0.0253
2015-01-20 2014-12-31 13F Norfolk Southern Common 655844108 1,337 0 0.00 147 -1.34 0.0284
2014-10-29 2014-09-30 13F Norfolk Southern Common 655844108 1,337 0 0.00 149 7.97 0.0308
2014-07-22 2014-06-30 13F Norfolk Southern Common 655844108 1,337 -105 -7.28 138 -1.43 0.0286
2014-04-23 2014-03-31 13F Norfolk Southern COM 655844108 1,442 0 0.00 140 4.48 0.0317
2014-02-07 2013-12-31 13F Norfolk Southern Common 655844108 1,442 0 0.00 134 19.64 0.0304
2013-10-04 2013-09-30 13F Norfolk Southern Common 655844108 1,442 0 0.00 112 6.67 0.0275
2013-07-29 2013-06-30 13F Norfolk Southern Common 655844108 1,442 1,442 105 0.0273
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.