NORFOLK SOUTHERN CORP

Ticker: NSC CUSIP: 655844108 Class: COM

Empirical Finance, LLC's Holding History (CIK: 0001572838)

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

Q4 2025

Shares 7,867 Value ($000) $2,271 Avg Close $288.62 Range $277.08 - $300.79

Q3 2025

Shares 8,188 Value ($000) $2,460 Avg Close $276.03 Range $252.95 - $299.47

Q2 2025

Shares 8,130 Value ($000) $2,081 Avg Close $233.06 Range $198.48 - $255.81

Q1 2025

Shares 8,075 Value ($000) $1,913 Avg Close $239.35 Range $222.00 - $264.36

Q4 2024

Shares 7,923 Value ($000) $1,860 Avg Close $248.46 Range $225.19 - $271.79

Q3 2024

Shares 8,022 Value ($000) $1,993 Avg Close $233.00 Range $204.24 - $253.86

Q2 2024

Shares 7,868 Value ($000) $1,689 Avg Close $224.21 Range $200.19 - $246.91

Q1 2024

Shares 8,536 Value ($000) $2,176 Avg Close $237.76 Range $214.83 - $253.85

Q4 2023

Shares 8,261 Value ($000) $1,953 Avg Close $200.12 Range $174.02 - $227.48

Q3 2023

Shares 8,257 Value ($000) $1,626 Avg Close $205.00 Range $184.44 - $225.83

Q2 2023

Shares 7,521 Value ($000) $1,705 Avg Close $200.25 Range $185.68 - $215.05

Q1 2023

Shares 6,791 Value ($000) $1,440 Avg Close $216.72 Range $184.28 - $242.90

Q4 2022

Shares 6,491 Value ($000) $1,600 Avg Close $220.43 Range $189.06 - $244.31

Q3 2022

Shares 6,046 Value ($000) $1,268 Avg Close $222.85 Range $194.58 - $245.30

Q2 2022

Shares 5,101 Value ($000) $1,159 Avg Close $226.47 Range $202.60 - $262.57

Q1 2022

Shares 4,839 Value ($000) $1,380 Avg Close $252.93 Range $227.90 - $273.69

Q4 2021

Shares 4,342 Value ($000) $1,293 Avg Close $255.22 Range $218.02 - $273.89

Q3 2021

Shares 3,233 Value ($000) $773 Avg Close $233.46 Range $217.60 - $249.27

Q2 2021

Shares 2,644 Value ($000) $628 Avg Close $250.29 Range $237.13 - $267.99

Q1 2021

Shares 2,644 Value ($000) $628 Avg Close $228.85 Range $207.42 - $247.83

Q4 2020

Shares 2,644 Value ($000) $628 Avg Close $204.73 Range $176.03 - $223.49

Q3 2020

Shares 2,194 Value ($000) $469 Avg Close $179.92 Range $151.06 - $201.91

Q2 2020

Shares 1,770 Value ($000) $311 Avg Close $150.98 Range $121.35 - $179.10

Q1 2020

Shares 1,557 Value ($000) $227 Avg Close $163.63 Range $100.01 - $194.41

Q4 2016

Shares 136 Value ($000) $15 Avg Close $83.99 Range $74.46 - $92.84

Period	Shares	Value ($000)	Average Close	Price Range
Q4 2025	7,867	$2,271	$288.62	$277.08 - $300.79
Q3 2025	8,188	$2,460	$276.03	$252.95 - $299.47
Q2 2025	8,130	$2,081	$233.06	$198.48 - $255.81
Q1 2025	8,075	$1,913	$239.35	$222.00 - $264.36
Q4 2024	7,923	$1,860	$248.46	$225.19 - $271.79
Q3 2024	8,022	$1,993	$233.00	$204.24 - $253.86
Q2 2024	7,868	$1,689	$224.21	$200.19 - $246.91
Q1 2024	8,536	$2,176	$237.76	$214.83 - $253.85
Q4 2023	8,261	$1,953	$200.12	$174.02 - $227.48
Q3 2023	8,257	$1,626	$205.00	$184.44 - $225.83
Q2 2023	7,521	$1,705	$200.25	$185.68 - $215.05
Q1 2023	6,791	$1,440	$216.72	$184.28 - $242.90
Q4 2022	6,491	$1,600	$220.43	$189.06 - $244.31
Q3 2022	6,046	$1,268	$222.85	$194.58 - $245.30
Q2 2022	5,101	$1,159	$226.47	$202.60 - $262.57
Q1 2022	4,839	$1,380	$252.93	$227.90 - $273.69
Q4 2021	4,342	$1,293	$255.22	$218.02 - $273.89
Q3 2021	3,233	$773	$233.46	$217.60 - $249.27
Q2 2021	2,644	$628	$250.29	$237.13 - $267.99
Q1 2021	2,644	$628	$228.85	$207.42 - $247.83
Q4 2020	2,644	$628	$204.73	$176.03 - $223.49
Q3 2020	2,194	$469	$179.92	$151.06 - $201.91
Q2 2020	1,770	$311	$150.98	$121.35 - $179.10
Q1 2020	1,557	$227	$163.63	$100.01 - $194.41
Q4 2016	136	$15	$83.99	$74.46 - $92.84