NORFOLK SOUTHERN CORP

Ticker: NSC CUSIP: 655844108 Class: COM

STATE OF WISCONSIN INVESTMENT BOARD's Holding History (CIK: 0000854157)

Note: Option positions (PUT/CALL) are excluded.

Q4 2025

Shares 116,278 Value ($000) $33,572 Avg Close $288.62 Range $277.08 - $300.79

Q3 2025

Shares 118,563 Value ($000) $35,618 Avg Close $276.03 Range $252.95 - $299.47

Q2 2025

Shares 120,789 Value ($000) $30,918 Avg Close $233.06 Range $198.48 - $255.81

Q1 2025

Shares 127,258 Value ($000) $30,141 Avg Close $239.35 Range $222.00 - $264.36

Q4 2024

Shares 124,794 Value ($000) $29,289 Avg Close $248.46 Range $225.19 - $271.79

Q3 2024

Shares 132,326 Value ($000) $32,883 Avg Close $233.00 Range $204.24 - $253.86

Q2 2024

Shares 124,988 Value ($000) $26,834 Avg Close $224.21 Range $200.19 - $246.91

Q1 2024

Shares 132,836 Value ($000) $33,856 Avg Close $237.76 Range $214.83 - $253.85

Q4 2023

Shares 130,668 Value ($000) $30,887 Avg Close $200.12 Range $174.02 - $227.48

Q3 2023

Shares 126,923 Value ($000) $24,995 Avg Close $205.00 Range $184.44 - $225.83

Q2 2023

Shares 123,738 Value ($000) $28,059 Avg Close $200.25 Range $185.68 - $215.05

Q1 2023

Shares 129,024 Value ($000) $27,353 Avg Close $216.72 Range $184.28 - $242.90

Q4 2022

Shares 122,976 Value ($000) $30,304 Avg Close $220.43 Range $189.06 - $244.31

Q3 2022

Shares 140,040 Value ($000) $29,359 Avg Close $222.85 Range $194.58 - $245.30

Q2 2022

Shares 173,455 Value ($000) $39,425 Avg Close $226.47 Range $202.60 - $262.57

Q1 2022

Shares 183,564 Value ($000) $52,356 Avg Close $252.93 Range $227.90 - $273.69

Q4 2021

Shares 176,528 Value ($000) $52,554 Avg Close $255.22 Range $218.02 - $273.89

Q3 2021

Shares 190,103 Value ($000) $45,482 Avg Close $233.46 Range $217.60 - $249.27

Q2 2021

Shares 184,992 Value ($000) $49,099 Avg Close $250.29 Range $237.13 - $267.99

Q1 2021

Shares 178,724 Value ($000) $47,991 Avg Close $228.85 Range $207.42 - $247.83

Q4 2020

Shares 184,024 Value ($000) $43,726 Avg Close $204.73 Range $176.03 - $223.49

Q3 2020

Shares 224,400 Value ($000) $48,019 Avg Close $179.92 Range $151.06 - $201.91

Q2 2020

Shares 214,284 Value ($000) $37,622 Avg Close $150.98 Range $121.35 - $179.10

Q1 2020

Shares 217,353 Value ($000) $31,734 Avg Close $163.63 Range $100.01 - $194.41

Q4 2019

Shares 287,390 Value ($000) $55,791 Avg Close $165.56 Range $146.52 - $174.77

Q3 2019

Shares 384,643 Value ($000) $69,105 Avg Close $161.51 Range $148.22 - $182.44

Q2 2019

Shares 406,292 Value ($000) $80,986 Avg Close $173.34 Range $164.54 - $184.28

Q1 2019

Shares 283,381 Value ($000) $52,961 Avg Close $150.47 Range $124.50 - $164.26

Q4 2018

Shares 285,066 Value ($000) $42,629 Avg Close $142.35 Range $120.21 - $160.07

Q3 2018

Shares 300,979 Value ($000) $54,327 Avg Close $147.16 Range $128.72 - $161.27

Q2 2018

Shares 269,938 Value ($000) $40,726 Avg Close $125.28 Range $109.19 - $136.18

Q1 2018

Shares 255,551 Value ($000) $34,699 Avg Close $122.67 Range $112.62 - $133.63

Q4 2017

Shares 258,696 Value ($000) $37,485 Avg Close $113.99 Range $106.48 - $124.43

Q3 2017

Shares 264,526 Value ($000) $34,981 Avg Close $102.71 Range $93.81 - $113.26

Q2 2017

Shares 246,499 Value ($000) $29,999 Avg Close $98.76 Range $93.02 - $105.49

Q1 2017

Shares 187,649 Value ($000) $21,011 Avg Close $97.78 Range $88.22 - $104.69

Q4 2016

Shares 152,512 Value ($000) $16,482 Avg Close $83.99 Range $74.46 - $92.84

Q3 2016

Shares 182,218 Value ($000) $17,686 Avg Close $75.16 Range $68.43 - $80.53

Q2 2016

Shares 197,018 Value ($000) $16,772 Avg Close $69.72 Range $63.83 - $76.86

Q1 2016

Shares 248,798 Value ($000) $20,712 Avg Close $61.54 Range $52.69 - $70.78

Q4 2015

Shares 214,808 Value ($000) $18,171 Avg Close $69.12 Range $61.01 - $79.94

Q3 2015

Shares 227,688 Value ($000) $17,395 Avg Close $65.12 Range $57.94 - $70.74

Q2 2015

Shares 360,650 Value ($000) $31,506 Avg Close $77.43 Range $69.21 - $84.64

Q1 2015

Shares 361,750 Value ($000) $37,231 Avg Close $84.19 Range $78.29 - $88.38

Q4 2014

Shares 368,180 Value ($000) $40,356 Avg Close $85.81 Range $79.24 - $92.28

Q3 2014

Shares 354,400 Value ($000) $39,551 Avg Close $82.62 Range $77.74 - $88.50

Q2 2014

Shares 404,870 Value ($000) $41,714 Avg Close $76.02 Range $70.92 - $81.20

Q1 2014

Shares 403,860 Value ($000) $39,243 Avg Close $71.41 Range $66.84 - $75.69

Q4 2013

Shares 403,600 Value ($000) $37,466 Avg Close $65.71 Range $58.01 - $71.47

Q3 2013

Shares 410,310 Value ($000) $31,737 Avg Close $56.99 Range $54.14 - $60.17

Q2 2013

Shares 428,270 Value ($000) $31,114 Avg Close $57.67 Range $53.20 - $61.33

Period	Shares	Value ($000)	Average Close	Price Range
Q4 2025	116,278	$33,572	$288.62	$277.08 - $300.79
Q3 2025	118,563	$35,618	$276.03	$252.95 - $299.47
Q2 2025	120,789	$30,918	$233.06	$198.48 - $255.81
Q1 2025	127,258	$30,141	$239.35	$222.00 - $264.36
Q4 2024	124,794	$29,289	$248.46	$225.19 - $271.79
Q3 2024	132,326	$32,883	$233.00	$204.24 - $253.86
Q2 2024	124,988	$26,834	$224.21	$200.19 - $246.91
Q1 2024	132,836	$33,856	$237.76	$214.83 - $253.85
Q4 2023	130,668	$30,887	$200.12	$174.02 - $227.48
Q3 2023	126,923	$24,995	$205.00	$184.44 - $225.83
Q2 2023	123,738	$28,059	$200.25	$185.68 - $215.05
Q1 2023	129,024	$27,353	$216.72	$184.28 - $242.90
Q4 2022	122,976	$30,304	$220.43	$189.06 - $244.31
Q3 2022	140,040	$29,359	$222.85	$194.58 - $245.30
Q2 2022	173,455	$39,425	$226.47	$202.60 - $262.57
Q1 2022	183,564	$52,356	$252.93	$227.90 - $273.69
Q4 2021	176,528	$52,554	$255.22	$218.02 - $273.89
Q3 2021	190,103	$45,482	$233.46	$217.60 - $249.27
Q2 2021	184,992	$49,099	$250.29	$237.13 - $267.99
Q1 2021	178,724	$47,991	$228.85	$207.42 - $247.83
Q4 2020	184,024	$43,726	$204.73	$176.03 - $223.49
Q3 2020	224,400	$48,019	$179.92	$151.06 - $201.91
Q2 2020	214,284	$37,622	$150.98	$121.35 - $179.10
Q1 2020	217,353	$31,734	$163.63	$100.01 - $194.41
Q4 2019	287,390	$55,791	$165.56	$146.52 - $174.77
Q3 2019	384,643	$69,105	$161.51	$148.22 - $182.44
Q2 2019	406,292	$80,986	$173.34	$164.54 - $184.28
Q1 2019	283,381	$52,961	$150.47	$124.50 - $164.26
Q4 2018	285,066	$42,629	$142.35	$120.21 - $160.07
Q3 2018	300,979	$54,327	$147.16	$128.72 - $161.27
Q2 2018	269,938	$40,726	$125.28	$109.19 - $136.18
Q1 2018	255,551	$34,699	$122.67	$112.62 - $133.63
Q4 2017	258,696	$37,485	$113.99	$106.48 - $124.43
Q3 2017	264,526	$34,981	$102.71	$93.81 - $113.26
Q2 2017	246,499	$29,999	$98.76	$93.02 - $105.49
Q1 2017	187,649	$21,011	$97.78	$88.22 - $104.69
Q4 2016	152,512	$16,482	$83.99	$74.46 - $92.84
Q3 2016	182,218	$17,686	$75.16	$68.43 - $80.53
Q2 2016	197,018	$16,772	$69.72	$63.83 - $76.86
Q1 2016	248,798	$20,712	$61.54	$52.69 - $70.78
Q4 2015	214,808	$18,171	$69.12	$61.01 - $79.94
Q3 2015	227,688	$17,395	$65.12	$57.94 - $70.74
Q2 2015	360,650	$31,506	$77.43	$69.21 - $84.64
Q1 2015	361,750	$37,231	$84.19	$78.29 - $88.38
Q4 2014	368,180	$40,356	$85.81	$79.24 - $92.28
Q3 2014	354,400	$39,551	$82.62	$77.74 - $88.50
Q2 2014	404,870	$41,714	$76.02	$70.92 - $81.20
Q1 2014	403,860	$39,243	$71.41	$66.84 - $75.69
Q4 2013	403,600	$37,466	$65.71	$58.01 - $71.47
Q3 2013	410,310	$31,737	$56.99	$54.14 - $60.17
Q2 2013	428,270	$31,114	$57.67	$53.20 - $61.33