NORFOLK SOUTHERN CORP

Ticker: NSC CUSIP: 655844108 Class: COM

HORIZON KINETICS ASSET MANAGEMENT LLC's Holding History (CIK: 0001056823)

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

Q4 2025

Shares 3,033 Value ($000) $876 Avg Close $288.62 Range $277.08 - $300.79

Q3 2025

Shares 3,273 Value ($000) $983 Avg Close $276.03 Range $252.95 - $299.47

Q2 2025

Shares 3,273 Value ($000) $838 Avg Close $233.06 Range $198.48 - $255.81

Q1 2025

Shares 3,368 Value ($000) $798 Avg Close $239.35 Range $222.00 - $264.36

Q4 2024

Shares 3,368 Value ($000) $790 Avg Close $248.46 Range $225.19 - $271.79

Q3 2024

Shares 3,348 Value ($000) $832 Avg Close $233.00 Range $204.24 - $253.86

Q2 2024

Shares 3,328 Value ($000) $714 Avg Close $224.21 Range $200.19 - $246.91

Q1 2024

Shares 3,458 Value ($000) $881 Avg Close $237.76 Range $214.83 - $253.85

Q4 2023

Shares 3,493 Value ($000) $826 Avg Close $200.12 Range $174.02 - $227.48

Q3 2023

Shares 4,132 Value ($000) $814 Avg Close $205.00 Range $184.44 - $225.83

Q2 2023

Shares 4,341 Value ($000) $984 Avg Close $200.25 Range $185.68 - $215.05

Q1 2023

Shares 4,481 Value ($000) $950 Avg Close $216.72 Range $184.28 - $242.90

Q4 2022

Shares 4,531 Value ($000) $1,117 Avg Close $220.43 Range $189.06 - $244.31

Q3 2022

Shares 4,656 Value ($000) $976 Avg Close $222.85 Range $194.58 - $245.30

Q2 2022

Shares 4,586 Value ($000) $1,042 Avg Close $226.47 Range $202.60 - $262.57

Q1 2022

Shares 4,566 Value ($000) $1,302 Avg Close $252.93 Range $227.90 - $273.69

Q4 2021

Shares 4,566 Value ($000) $1,359 Avg Close $255.22 Range $218.02 - $273.89

Q3 2021

Shares 4,566 Value ($000) $1,092 Avg Close $233.46 Range $217.60 - $249.27

Q2 2021

Shares 4,806 Value ($000) $1,276 Avg Close $250.29 Range $237.13 - $267.99

Q1 2021

Shares 4,886 Value ($000) $1,312 Avg Close $228.85 Range $207.42 - $247.83

Q4 2020

Shares 4,886 Value ($000) $1,161 Avg Close $204.73 Range $176.03 - $223.49

Q3 2020

Shares 5,192 Value ($000) $1,111 Avg Close $179.92 Range $151.06 - $201.91

Q2 2020

Shares 3,507 Value ($000) $616 Avg Close $150.98 Range $121.35 - $179.10

Q1 2020

Shares 4,707 Value ($000) $687 Avg Close $163.63 Range $100.01 - $194.41

Q4 2019

Shares 4,757 Value ($000) $924 Avg Close $165.56 Range $146.52 - $174.77

Q3 2019

Shares 4,757 Value ($000) $855 Avg Close $161.51 Range $148.22 - $182.44

Q2 2019

Shares 4,757 Value ($000) $948 Avg Close $173.34 Range $164.54 - $184.28

Q1 2019

Shares 4,857 Value ($000) $908 Avg Close $150.47 Range $124.50 - $164.26

Period	Shares	Value ($000)	Average Close	Price Range
Q4 2025	3,033	$876	$288.62	$277.08 - $300.79
Q3 2025	3,273	$983	$276.03	$252.95 - $299.47
Q2 2025	3,273	$838	$233.06	$198.48 - $255.81
Q1 2025	3,368	$798	$239.35	$222.00 - $264.36
Q4 2024	3,368	$790	$248.46	$225.19 - $271.79
Q3 2024	3,348	$832	$233.00	$204.24 - $253.86
Q2 2024	3,328	$714	$224.21	$200.19 - $246.91
Q1 2024	3,458	$881	$237.76	$214.83 - $253.85
Q4 2023	3,493	$826	$200.12	$174.02 - $227.48
Q3 2023	4,132	$814	$205.00	$184.44 - $225.83
Q2 2023	4,341	$984	$200.25	$185.68 - $215.05
Q1 2023	4,481	$950	$216.72	$184.28 - $242.90
Q4 2022	4,531	$1,117	$220.43	$189.06 - $244.31
Q3 2022	4,656	$976	$222.85	$194.58 - $245.30
Q2 2022	4,586	$1,042	$226.47	$202.60 - $262.57
Q1 2022	4,566	$1,302	$252.93	$227.90 - $273.69
Q4 2021	4,566	$1,359	$255.22	$218.02 - $273.89
Q3 2021	4,566	$1,092	$233.46	$217.60 - $249.27
Q2 2021	4,806	$1,276	$250.29	$237.13 - $267.99
Q1 2021	4,886	$1,312	$228.85	$207.42 - $247.83
Q4 2020	4,886	$1,161	$204.73	$176.03 - $223.49
Q3 2020	5,192	$1,111	$179.92	$151.06 - $201.91
Q2 2020	3,507	$616	$150.98	$121.35 - $179.10
Q1 2020	4,707	$687	$163.63	$100.01 - $194.41
Q4 2019	4,757	$924	$165.56	$146.52 - $174.77
Q3 2019	4,757	$855	$161.51	$148.22 - $182.44
Q2 2019	4,757	$948	$173.34	$164.54 - $184.28
Q1 2019	4,857	$908	$150.47	$124.50 - $164.26