NORFOLK SOUTHERN CORP

Ticker: NSC CUSIP: 655844108 Class: COM

FARMERS & MERCHANTS INVESTMENTS INC's Holding History (CIK: 0001259969)

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

Q4 2025

Shares 10,480 Value ($000) $3,026 Avg Close $288.62 Range $277.08 - $300.79

Q3 2025

Shares 11,230 Value ($000) $3,374 Avg Close $276.03 Range $252.95 - $299.47

Q2 2025

Shares 11,230 Value ($000) $2,875 Avg Close $233.06 Range $198.48 - $255.81

Q1 2025

Shares 11,698 Value ($000) $2,771 Avg Close $239.35 Range $222.00 - $264.36

Q4 2024

Shares 11,698 Value ($000) $2,746 Avg Close $248.46 Range $225.19 - $271.79

Q3 2024

Shares 11,748 Value ($000) $2,919 Avg Close $233.00 Range $204.24 - $253.86

Q2 2024

Shares 11,749 Value ($000) $2,522 Avg Close $224.21 Range $200.19 - $246.91

Q1 2024

Shares 11,699 Value ($000) $2,982 Avg Close $237.76 Range $214.83 - $253.85

Q4 2023

Shares 11,702 Value ($000) $2,766 Avg Close $200.12 Range $174.02 - $227.48

Q3 2023

Shares 11,762 Value ($000) $2,316 Avg Close $205.00 Range $184.44 - $225.83

Q2 2023

Shares 11,762 Value ($000) $2,667 Avg Close $200.25 Range $185.68 - $215.05

Q1 2023

Shares 11,982 Value ($000) $2,540 Avg Close $216.72 Range $184.28 - $242.90

Q4 2022

Shares 12,182 Value ($000) $3,002 Avg Close $220.43 Range $189.06 - $244.31

Q3 2022

Shares 12,182 Value ($000) $2,554 Avg Close $222.85 Range $194.58 - $245.30

Q2 2022

Shares 12,252 Value ($000) $2,785 Avg Close $226.47 Range $202.60 - $262.57

Q1 2022

Shares 12,252 Value ($000) $3,495 Avg Close $252.93 Range $227.90 - $273.69

Q4 2021

Shares 13,517 Value ($000) $4,024 Avg Close $255.22 Range $218.02 - $273.89

Q3 2021

Shares 13,517 Value ($000) $3,234 Avg Close $233.46 Range $217.60 - $249.27

Q2 2021

Shares 13,547 Value ($000) $3,596 Avg Close $250.29 Range $237.13 - $267.99

Q1 2021

Shares 13,534 Value ($000) $3,634 Avg Close $228.85 Range $207.42 - $247.83

Q4 2020

Shares 13,564 Value ($000) $3,223 Avg Close $204.73 Range $176.03 - $223.49

Q3 2020

Shares 13,564 Value ($000) $2,903 Avg Close $179.92 Range $151.06 - $201.91

Q2 2020

Shares 13,564 Value ($000) $2,381 Avg Close $150.98 Range $121.35 - $179.10

Q1 2020

Shares 13,557 Value ($000) $1,979 Avg Close $163.63 Range $100.01 - $194.41

Q4 2019

Shares 13,632 Value ($000) $2,646 Avg Close $165.56 Range $146.52 - $174.77

Q3 2019

Shares 13,657 Value ($000) $2,454 Avg Close $161.51 Range $148.22 - $182.44

Q2 2019

Shares 13,798 Value ($000) $2,750 Avg Close $173.34 Range $164.54 - $184.28

Q1 2019

Shares 13,794 Value ($000) $2,578 Avg Close $150.47 Range $124.50 - $164.26

Q4 2018

Shares 13,872 Value ($000) $2,074 Avg Close $142.35 Range $120.21 - $160.07

Q3 2018

Shares 13,922 Value ($000) $2,513 Avg Close $147.16 Range $128.72 - $161.27

Q2 2018

Shares 14,063 Value ($000) $2,122 Avg Close $125.28 Range $109.19 - $136.18

Q1 2018

Shares 14,163 Value ($000) $1,923 Avg Close $122.67 Range $112.62 - $133.63

Q4 2017

Shares 14,373 Value ($000) $2,083 Avg Close $113.99 Range $106.48 - $124.43

Q3 2017

Shares 14,484 Value ($000) $1,915 Avg Close $102.71 Range $93.81 - $113.26

Q2 2017

Shares 14,454 Value ($000) $1,759 Avg Close $98.76 Range $93.02 - $105.49

Q1 2017

Shares 12,954 Value ($000) $1,450 Avg Close $97.78 Range $88.22 - $104.69

Q4 2016

Shares 13,027 Value ($000) $1,408 Avg Close $83.99 Range $74.46 - $92.84

Q3 2016

Shares 5,497 Value ($000) $534 Avg Close $75.16 Range $68.43 - $80.53

Q2 2016

Shares 5,806 Value ($000) $494 Avg Close $69.72 Range $63.83 - $76.86

Q1 2016

Shares 5,993 Value ($000) $499 Avg Close $61.54 Range $52.69 - $70.78

Q4 2015

Shares 6,539 Value ($000) $553 Avg Close $69.12 Range $61.01 - $79.94

Q3 2015

Shares 5,989 Value ($000) $458 Avg Close $65.12 Range $57.94 - $70.74

Q2 2015

Shares 6,139 Value ($000) $536 Avg Close $77.43 Range $69.21 - $84.64

Q1 2015

Shares 3,794 Value ($000) $390 Avg Close $84.19 Range $78.29 - $88.38

Q4 2014

Shares 3,929 Value ($000) $431 Avg Close $85.81 Range $79.24 - $92.28

Q3 2014

Shares 3,929 Value ($000) $438 Avg Close $82.62 Range $77.74 - $88.50

Q2 2014

Shares 3,946 Value ($000) $407 Avg Close $76.02 Range $70.92 - $81.20

Q1 2014

Shares 3,971 Value ($000) $386 Avg Close $71.41 Range $66.84 - $75.69

Q4 2013

Shares 3,970 Value ($000) $369 Avg Close $65.71 Range $58.01 - $71.47

Q3 2013

Shares 3,770 Value ($000) $292 Avg Close $56.99 Range $54.14 - $60.17

Q2 2013

Shares 3,670 Value ($000) $267 Avg Close $57.67 Range $53.20 - $61.33

Period	Shares	Value ($000)	Average Close	Price Range
Q4 2025	10,480	$3,026	$288.62	$277.08 - $300.79
Q3 2025	11,230	$3,374	$276.03	$252.95 - $299.47
Q2 2025	11,230	$2,875	$233.06	$198.48 - $255.81
Q1 2025	11,698	$2,771	$239.35	$222.00 - $264.36
Q4 2024	11,698	$2,746	$248.46	$225.19 - $271.79
Q3 2024	11,748	$2,919	$233.00	$204.24 - $253.86
Q2 2024	11,749	$2,522	$224.21	$200.19 - $246.91
Q1 2024	11,699	$2,982	$237.76	$214.83 - $253.85
Q4 2023	11,702	$2,766	$200.12	$174.02 - $227.48
Q3 2023	11,762	$2,316	$205.00	$184.44 - $225.83
Q2 2023	11,762	$2,667	$200.25	$185.68 - $215.05
Q1 2023	11,982	$2,540	$216.72	$184.28 - $242.90
Q4 2022	12,182	$3,002	$220.43	$189.06 - $244.31
Q3 2022	12,182	$2,554	$222.85	$194.58 - $245.30
Q2 2022	12,252	$2,785	$226.47	$202.60 - $262.57
Q1 2022	12,252	$3,495	$252.93	$227.90 - $273.69
Q4 2021	13,517	$4,024	$255.22	$218.02 - $273.89
Q3 2021	13,517	$3,234	$233.46	$217.60 - $249.27
Q2 2021	13,547	$3,596	$250.29	$237.13 - $267.99
Q1 2021	13,534	$3,634	$228.85	$207.42 - $247.83
Q4 2020	13,564	$3,223	$204.73	$176.03 - $223.49
Q3 2020	13,564	$2,903	$179.92	$151.06 - $201.91
Q2 2020	13,564	$2,381	$150.98	$121.35 - $179.10
Q1 2020	13,557	$1,979	$163.63	$100.01 - $194.41
Q4 2019	13,632	$2,646	$165.56	$146.52 - $174.77
Q3 2019	13,657	$2,454	$161.51	$148.22 - $182.44
Q2 2019	13,798	$2,750	$173.34	$164.54 - $184.28
Q1 2019	13,794	$2,578	$150.47	$124.50 - $164.26
Q4 2018	13,872	$2,074	$142.35	$120.21 - $160.07
Q3 2018	13,922	$2,513	$147.16	$128.72 - $161.27
Q2 2018	14,063	$2,122	$125.28	$109.19 - $136.18
Q1 2018	14,163	$1,923	$122.67	$112.62 - $133.63
Q4 2017	14,373	$2,083	$113.99	$106.48 - $124.43
Q3 2017	14,484	$1,915	$102.71	$93.81 - $113.26
Q2 2017	14,454	$1,759	$98.76	$93.02 - $105.49
Q1 2017	12,954	$1,450	$97.78	$88.22 - $104.69
Q4 2016	13,027	$1,408	$83.99	$74.46 - $92.84
Q3 2016	5,497	$534	$75.16	$68.43 - $80.53
Q2 2016	5,806	$494	$69.72	$63.83 - $76.86
Q1 2016	5,993	$499	$61.54	$52.69 - $70.78
Q4 2015	6,539	$553	$69.12	$61.01 - $79.94
Q3 2015	5,989	$458	$65.12	$57.94 - $70.74
Q2 2015	6,139	$536	$77.43	$69.21 - $84.64
Q1 2015	3,794	$390	$84.19	$78.29 - $88.38
Q4 2014	3,929	$431	$85.81	$79.24 - $92.28
Q3 2014	3,929	$438	$82.62	$77.74 - $88.50
Q2 2014	3,946	$407	$76.02	$70.92 - $81.20
Q1 2014	3,971	$386	$71.41	$66.84 - $75.69
Q4 2013	3,970	$369	$65.71	$58.01 - $71.47
Q3 2013	3,770	$292	$56.99	$54.14 - $60.17
Q2 2013	3,670	$267	$57.67	$53.20 - $61.33