APG Asset Management’s Norfolk Southern NSC Stock Holding History

APG Asset Management’s Portfolio NSC Stock Details NSC Fund Activity

Bought

Maintained

Sold

Quarter	Market Value	Status	Shares	Change in Stake	Trade Value	Portfolio Weight	Portfolio Position
2025 Q4	–	Sell	-125,300	Closed	-$32M	–	559
2025 Q3	$32M	Hold	125,300	–	–	0.09%	182
2025 Q2	$27.3M	Buy	125,300 +2,300	+2%	+$542K	0.08%	208
2025 Q1	$27M	Sell	123,000 -100	-0.1%	-$24.4K	0.08%	198
2024 Q4	$27.9M	Buy	+123,100	New	+$31.3M	0.08%	206
2024 Q3	–	Sell	-25,978	Closed	-$5.2M	–	575
2024 Q2	$5.2M	Buy	25,978 +18,000	+226%	+$4.18M	0.01%	456
2024 Q1	$1.88M	Sell	7,978 -100	-1%	-$24.7K	﹤0.01%	527
2023 Q4	$1.73M	Sell	8,078 -9,911	-55%	-$2.08M	﹤0.01%	531
2023 Q3	$3.54M	Sell	17,989 -12,900	-42%	-$2.79M	0.01%	500
2023 Q2	$6.42M	Sell	30,889 -18,500	-37%	-$3.93M	0.01%	457
2023 Q1	$9.64M	Buy	49,389 +9,886	+25%	+$2.29M	0.02%	427
2022 Q4	$9.73M	Buy	39,503 +2,414	+7%	+$571K	0.02%	452
2022 Q3	$7.94M	Buy	37,089 +13,600	+58%	+$3.27M	0.02%	405
2022 Q2	$5.11M	Sell	23,489 -18,600	-44%	-$4.57M	0.01%	447
2022 Q1	$10.8M	Sell	42,089 -2,100	-5%	-$579K	0.02%	411
2021 Q4	$11.6M	Sell	44,189 -8,700	-16%	-$2.43M	0.02%	426
2021 Q3	$10.9M	Buy	52,889 +28,200	+114%	+$7.23M	0.02%	438
2021 Q2	$5.53M	Sell	24,689 -25,400	-51%	-$7.01M	0.01%	527
2021 Q1	$11.4M	Sell	50,089 -67,699	-57%	-$17.1M	0.02%	474
2020 Q4	$22.9M	Sell	117,788 -54,430	-32%	-$12.4M	0.04%	408
2020 Q3	$31.4M	Buy	172,218 +7,600	+5%	+$1.53M	0.05%	330
2020 Q2	$25.7M	Buy	164,618 +9,700	+6%	+$1.64M	0.05%	352
2020 Q1	$22.6M	Buy	154,918 +124,287	+406%	+$22.9M	0.04%	384
2019 Q4	$5.3M	Sell	30,631 -26,323	-46%	-$4.94M	0.01%	687
2019 Q3	$9.39M	Sell	56,954 -18,299	-24%	-$3.37M	0.02%	563
2019 Q2	$13.2M	Sell	75,253 -20,994	-22%	-$4.16M	0.02%	480
2019 Q1	$16M	Sell	96,247 -12,300	-11%	-$2.13M	0.03%	414
2018 Q4	$14.2M	Buy	108,547 +19,600	+22%	+$3.22M	0.03%	411
2018 Q3	$13.8M	Hold	88,947	–	–	0.02%	447
2018 Q2	$11.5M	Hold	88,947	–	–	0.02%	465
2018 Q1	$9.82M	Hold	88,947	–	–	0.02%	475
2017 Q4	$10.7M	Sell	88,947 -66,842	-43%	-$8.98M	0.02%	483
2017 Q3	$20.6M	Buy	155,789 +61,900	+66%	+$7.53M	0.03%	400
2017 Q2	$11.4M	Sell	93,889 -340,359	-78%	-$40M	0.02%	488
2017 Q1	$48.6M	Sell	434,248 -80,801	-16%	-$9.45M	0.09%	297
2016 Q4	$52.8M	Sell	515,049 -52,200	-9%	-$5.27M	0.1%	281
2016 Q3	$55.1M	Sell	567,249 -78,300	-12%	-$7.13M	0.1%	273
2016 Q2	$55M	Buy	645,549 +49,700	+8%	+$4.22M	0.1%	251
2016 Q1	$49.6M	Buy	595,849 +72,704	+14%	+$5.49M	0.1%	246
2015 Q4	$44.3M	Sell	523,145 -59,868	-10%	-$5.12M	0.1%	243
2015 Q3	$44.5M	Sell	583,013 -3,253	-0.6%	-$264K	0.1%	240
2015 Q2	$51.2M	Buy	586,266 +51,199	+10%	+$4.99M	0.1%	248
2015 Q1	$55.1M	Sell	535,067 -1,416	-0.3%	-$151K	0.11%	227
2014 Q4	$58.8M	Buy	536,483 +10,967	+2%	+$1.2M	0.11%	220
2014 Q3	$58.6M	Buy	525,516 +99,701	+23%	+$10.6M	0.12%	212
2014 Q2	$43.9M	Buy	425,815 +58,188	+16%	+$5.71M	0.09%	246
2014 Q1	$35.7M	Buy	367,627 +61,140	+20%	+$5.67M	0.09%	238
2013 Q4	$28.5M	Sell	306,487 -8,211	-3%	-$705K	0.08%	261
2013 Q3	$24.3M	Sell	314,698 -44,849	-12%	-$3.36M	0.08%	292
2013 Q2	$26.1M	Buy	+359,547	New	+$27.4M	0.08%	274

Other funds holding NSC

Vanguard Group Malvern, Pennsylvania $6.9T AUM 27.45% 1-Year Est. Return

BlackRock New York $6.73T AUM 46.02% 1-Year Est. Return

State Street Boston, Massachusetts $3.37T AUM 44.26% 1-Year Est. Return

Dodge & Cox San Francisco, California $191B AUM 17.5% 1-Year Est. Return

Geode Capital Management Boston, Massachusetts $1.88T AUM 44.46% 1-Year Est. Return

Millennium Management New York $240B AUM 35.51% 1-Year Est. Return

Norges Bank Oslo, Norway $1T AUM

Bank of America Charlotte, North Carolina $1.37T AUM 24.88% 1-Year Est. Return

PCM

Pentwater Capital Management Naples, Florida $19.3B AUM 58.13% 1-Year Est. Return

T. Rowe Price Associates Baltimore, Maryland $865B AUM 30.76% 1-Year Est. Return

APG Asset Management's NSC Position: Q4 2025 in Review

APG Asset Management sold out of Norfolk Southern (NSC) in Q4 2025, closing a stake of 125,300 shares — an estimated $32M sold.

APG Asset Management first reported a position in NSC in Q2 2013 and held it in 49 quarters. The position peaked at $58.8M in Q4 2014. 1,850 funds tracked by Wall St. Rank hold NSC as of Q4 2025.

APG Asset Management reported no remaining Norfolk Southern position as of Q4 2025 after selling out during the quarter.
APG Asset Management sold 125,300 Norfolk Southern shares in Q4 2025, an estimated $32M.
APG Asset Management first reported a position in Norfolk Southern in Q2 2013 and held it in 49 quarters.
APG Asset Management's Norfolk Southern position peaked at $58.8M in Q4 2014.
1,850 funds tracked by Wall St. Rank held Norfolk Southern as of Q4 2025.

Based on APG Asset Management's 13F filing for Q4 2025, filed 12 Feb 2026.