Vanguard Capital Management Reports New 7.55% Passive Stake in Norfolk Southern Corp

On April 30, 2026, Vanguard Capital Management LLC filed a Schedule 13G reporting a new significant passive stake in Norfolk Southern Corp (NSC). As of the event date on March 31, 2026, Vanguard beneficially owns 16,955,045 shares of common stock, representing a 7.55% ownership stake in the company. This filing marks a substantial increase from a previous position of zero, indicating a major entry into the stock. The reporting person, an investment adviser based in Malvern, PA, disclosed sole dispositive power over the full 16,955,045 shares, while maintaining sole voting power over 2,368,386 shares. The filing includes holdings across various Vanguard affiliates, including Vanguard Asset Management Limited and Vanguard Global Advisers, LLC. In accordance with Rule 13d-1(b), Vanguard certified that these securities were acquired in the ordinary course of business and not for the purpose of influencing or changing the control of Norfolk Southern Corp. No other single person's interest in these securities exceeds 5%.