River Road Asset Management’s Norfolk Southern NSC Stock Holding History

River Road 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
2014 Q3	–	Sell	-586,984	Closed	-$60.5M	–	175
2014 Q2	$60.5M	Sell	586,984 -229,697	-28%	-$22.5M	0.8%	49
2014 Q1	$79.4M	Sell	816,681 -456,958	-36%	-$42.4M	0.86%	49
2013 Q4	$118M	Sell	1,273,639 -391,761	-24%	-$33.6M	1.28%	31
2013 Q3	$129M	Sell	1,665,400 -14,945	-0.9%	-$1.12M	1.59%	12
2013 Q2	$122M	Buy	+1,680,345	New	+$128M	1.52%	13

Other funds holding NSC

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

State Street Boston, Massachusetts $2.9T AUM 29.55% 1-Year Est. Return

BIT

BlackRock Institutional Trust San Francisco, California $675B AUM 16.07% 1-Year Est. Return

Wells Fargo San Francisco, California $530B AUM 22.01% 1-Year Est. Return

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

Fidelity Investments Boston, Massachusetts $1.9T AUM 41.92% 1-Year Est. Return

Northern Trust Chicago, Illinois $757B AUM 28.64% 1-Year Est. Return

Wellington Management Group Boston, Massachusetts $535B AUM 26.23% 1-Year Est. Return

Capital World Investors Los Angeles, California $733B AUM 35.63% 1-Year Est. Return

BFA

BlackRock Fund Advisors San Francisco, California $542B AUM 18.13% 1-Year Est. Return

River Road Asset Management's NSC Position: Q3 2014 in Review

River Road Asset Management sold out of Norfolk Southern (NSC) in Q3 2014, closing a stake of 586,984 shares — an estimated $60.5M sold.

River Road Asset Management first reported a position in NSC in Q2 2013 and held it in 5 quarters. The position peaked at $129M in Q3 2013. 1,015 funds tracked by Wall St. Rank hold NSC as of Q3 2014.

River Road Asset Management reported no remaining Norfolk Southern position as of Q3 2014 after selling out during the quarter.
River Road Asset Management sold 586,984 Norfolk Southern shares in Q3 2014, an estimated $60.5M.
River Road Asset Management first reported a position in Norfolk Southern in Q2 2013 and held it in 5 quarters.
River Road Asset Management's Norfolk Southern position peaked at $129M in Q3 2013.
1,015 funds tracked by Wall St. Rank held Norfolk Southern as of Q3 2014.

Based on River Road Asset Management's 13F filing for Q3 2014, filed 13 Nov 2014.