Norfolk Southern Corporation
US ˙ NYSE ˙ US6558441084

SecurityNSC / Norfolk Southern Corporation
InstitutionFirst Foundation Advisors
Latest Disclosed Ownership1,511 shares
Latest Disclosed Value $ 433,657
First Foundation Advisors reports 114.63% increase in ownership of NSC / Norfolk Southern Corporation

On May 4, 2026 - First Foundation Advisors filed a 13F-HR form disclosing ownership of 1,511 shares of Norfolk Southern Corporation (US:NSC) valued at $433,657 USD as of March 31, 2026. The entity filed a previous 13F-HR on February 4, 2026 disclosing 704 shares of Norfolk Southern Corporation. This represents a change in shares of 114.63% during the quarter. The current value of the position is $461,021 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)
2026-05-04 2026-03-31 13F NORFOLK SOUTHN COM 655844108 1,511 807 114.63 434 113.30 0.0175
2026-02-04 2025-12-31 13F NORFOLK SOUTHN COM 655844108 704 0 0.00 203 -3.79 0.0077
2025-11-17 2025-09-30 13F NORFOLK SOUTHN COM 655844108 704 704 211 0.0078
2024-11-14 2024-09-30 13F NORFOLK SOUTHN COM 655844108 0 -957 -100.00 0 -100.00
2024-08-06 2024-06-30 13F NORFOLK SOUTHN COM 655844108 957 -51 -5.06 205 -19.92 0.0079
2024-05-10 2024-03-31 13F NORFOLK SOUTHN COM 655844108 1,008 120 13.51 257 22.49 0.0103
2024-02-14 2023-12-31 13F NORFOLK SOUTHN COM 655844108 888 -774 -46.57 210 -36.09 0.0096
2023-11-15 2023-09-30 13F NORFOLK SOUTHN COM 655844108 1,662 1 0.06 327 -13.03 0.0153
2023-08-14 2023-06-30 13F NORFOLK SOUTHN COM 655844108 1,661 206 14.16 377 22.08 0.0163
2023-05-12 2023-03-31 13F NORFOLK SOUTHN COM 655844108 1,455 -2 -0.14 308 -14.21 0.0142
2023-02-14 2022-12-31 13F NORFOLK SOUTHN COM 655844108 1,457 26 1.82 359 19.67 0.0172
2022-11-14 2022-09-30 13F NORFOLK SOUTHN COM 655844108 1,431 -12 -0.83 300 -8.54 0.0147
2022-08-12 2022-06-30 13F NORFOLK SOUTHN COM 655844108 1,443 -236 -14.06 328 -31.52 0.0145
2022-05-05 2022-03-31 13F NORFOLK SOUTHN COM 655844108 1,679 -1,226 -42.20 479 -44.62 0.0173
2022-02-14 2021-12-31 13F NORFOLK SOUTHN COM 655844108 2,905 -236 -7.51 865 15.18 0.0297
2021-11-15 2021-09-30 13F NORFOLK SOUTHN COM 655844108 3,141 216 7.38 751 -3.22 0.0280
2021-08-13 2021-06-30 13F NORFOLK SOUTHN COM 655844108 2,925 -508 -14.80 776 -15.84 0.0299
2021-05-18 2021-03-31 13F NORFOLK SOUTHN COM 655844108 3,433 -383 -10.04 922 1.65 0.0395
2021-02-16 2020-12-31 13F NORFOLK SOUTHN COM 655844108 3,816 -439 -10.32 907 -0.44 0.0402
2020-11-12 2020-09-30 13F Norfolk Southern COM 655844108 4,255 2 0.05 911 21.95 0.0423
2020-08-14 2020-06-30 13F Norfolk Southern COM 655844108 4,253 -3,231 -43.17 747 -31.66 0.0385
2020-05-11 2020-03-31 13F Norfolk Southern COM 655844108 7,484 6,002 404.99 1,093 279.51 0.0670
2020-02-11 2019-12-31 13F Norfolk Southern COM 655844108 1,482 216 17.06 288 26.87 0.0143
2019-11-12 2019-09-30 13F Norfolk Southern COM 655844108 1,266 231 22.32 227 10.19 0.0121
2019-08-14 2019-06-30 13F Norfolk Southern COM 655844108 1,035 1,035 206 0.0115
2019-02-14 2018-12-31 13F Gramercy Property Trust COM NEW 385002308 0 -2,013,740 -100.00 0 -100.00
2018-11-13 2018-09-30 13F Gramercy Property Trust COM NEW 385002308 2,013,740 77,977 4.03 55,257 4.49 3.0581
2018-08-14 2018-06-30 13F GRAMERCY PPTY TR COM NEW 385002308 1,935,763 -103,461 -5.07 52,885 19.35 3.1078
2018-05-15 2018-03-31 13F Gramercy Property Trust COM NEW 385002308 2,039,224 2,037,287 105,177.44 44,312 15,669.40 2.4724
2018-02-14 2017-12-31 13F Norfolk Southern COM 655844108 1,937 8 0.41 281 10.20 0.0152
2017-11-14 2017-09-30 13F Norfolk Southern COM 655844108 1,929 1,929 255 0.0145
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.