USS Investment Management’s Norfolk Southern NSC Stock Holding History

Bought

Maintained

Sold

Quarter	Market Value	Status	Shares	Change in Stake	Trade Value	Portfolio Weight	Portfolio Position
2026 Q1	$13.7M	Buy	47,536 +4,997	+12%	+$1.49M	0.05%	185
2025 Q4	$12.3M	Buy	42,539 +1,236	+3%	+$357K	0.06%	189
2025 Q3	$12.4M	Hold	41,303	–	–	0.06%	186
2025 Q2	$10.6M	Hold	41,303	–	–	0.06%	200
2025 Q1	$9.79M	Sell	41,303 -9,200	-18%	-$2.24M	0.07%	199
2024 Q4	$11.9M	Sell	50,503 -7,410	-13%	-$1.88M	0.08%	192
2024 Q3	$14.4M	Hold	57,913	–	–	0.1%	168
2024 Q2	$12.4M	Buy	57,913 +905	+2%	+$210K	0.1%	169
2024 Q1	$14.5M	Buy	57,008 +3,182	+6%	+$787K	0.12%	142
2023 Q4	$12.7M	Sell	53,826 -1,835	-3%	-$385K	0.11%	146
2023 Q3	$11M	Buy	55,661 +2,773	+5%	+$599K	0.12%	160
2023 Q2	$12M	Hold	52,888	–	–	0.14%	151
2023 Q1	$11.2M	Buy	52,888 +480	+0.9%	+$111K	0.15%	147
2022 Q4	$12.9M	Buy	52,408 +3,570	+7%	+$845K	0.18%	127
2022 Q3	$10.3M	Sell	48,838 -16,402	-25%	-$3.94M	0.15%	142
2022 Q2	$14.9M	Sell	65,240 -4,486	-6%	-$1.1M	0.15%	146
2022 Q1	$19.9M	Buy	69,726 +4,891	+8%	+$1.35M	0.16%	133
2021 Q4	$19.3M	Hold	64,835	–	–	0.15%	141
2021 Q3	$15.5M	Buy	64,835 +48,846	+305%	+$12.5M	0.13%	161
2021 Q2	$4.24M	Sell	15,989 -600	-4%	-$166K	0.03%	289
2021 Q1	$4.46M	Hold	16,589	–	–	0.04%	264
2020 Q4	$3.94M	Sell	16,589 -1,100	-6%	-$250K	0.04%	263
2020 Q3	$3.79M	Hold	17,689	–	–	0.04%	258
2020 Q2	$3.11M	Buy	+17,689	New	+$3M	0.03%	274