v3.26.1
Schedule H, Line 4i – Schedule of Assets (Held At End of Year)
12 Months Ended
Dec. 31, 2025
EBP 001  
EBP, Schedule of Asset Held for Investment [Line Items]  
Schedule H, Line 4i – Schedule of Assets (Held At End of Year)
Thoroughbred Retirement Investment Plan of
Norfolk Southern Corporation and Participating Subsidiary Companies
EIN: 52-1188014 Plan 003
Schedule H, line 4i – Schedule of Assets (Held at End of Year)
December 31, 2025
Identity of issue, borrower,Description of investment, including maturity date,
lessor or similar partyrate of interest, collateral, par or maturity valueCurrent Value
($ in thousands)
*Plan interest in Master Trust
     for NS stock2,648,552 units of NS Stock Fund$254,288 
Value of Interests in Registered Investment Companies:
*The Vanguard Group, Inc.428,367 shares ofVanguard Growth Index Fund Institutional Shares107,584 
*The Vanguard Group, Inc.1,252,105 shares ofVanguard Wellington Fund Admiral Shares96,650 
*The Vanguard Group, Inc.546,811 shares ofVanguard Value Index Fund Institutional Shares40,743 
*The Vanguard Group, Inc.476,781 shares ofVanguard Mid-Cap Index Fund Institutional Shares37,847 
*The Vanguard Group, Inc.195,864 shares ofVanguard Small-Cap Index Fund Institutional Shares24,205 
*The Vanguard Group, Inc.1,065,483 shares ofVanguard Inflation-Protected Securities Fund9,973 
*The Vanguard Group, Inc.43,877 shares ofVanguard Cash Reserve Federal MM Fund44 
317,046 
Value of Interests in Common Collective Trusts:
*The Vanguard Group, Inc.924,513 units ofVanguard Institutional 500 Index Trust C128,896 
*The Vanguard Group, Inc.629,882 units ofVanguard Institutional Total International Stock Market Index Trust C88,624 
*The Vanguard Group, Inc.543,473 units ofVanguard Institutional Total Bond Market Index Trust C59,864 
*The Vanguard Group, Inc.54,403,361 units of Vanguard Retirement Savings Trust III54,403 
*The Vanguard Group, Inc.422,831 units ofVanguard Target Retirement 2045 Trust I50,643 
*The Vanguard Group, Inc.389,859 units ofVanguard Target Retirement 2040 Trust I44,370 
*The Vanguard Group, Inc.347,770 units ofVanguard Target Retirement 2050 Trust I43,040 
*The Vanguard Group, Inc.380,276 units ofVanguard Target Retirement 2035 Trust I39,975 
*The Vanguard Group, Inc.195,143 units ofVanguard Target Retirement 2055 Trust I29,451 
*The Vanguard Group, Inc.291,276 units ofVanguard Target Retirement 2030 Trust I28,510 
*The Vanguard Group, Inc.152,661 units ofVanguard Target Retirement 2025 Trust I14,046 
*The Vanguard Group, Inc.167,940 units ofVanguard Target Retirement 2060 Trust I13,321 
*The Vanguard Group, Inc.97,601 units ofVanguard Target Retirement Income Trust I7,386 
*The Vanguard Group, Inc.122,004 units ofVanguard Target Retirement 2065 Trust I5,951 
*The Vanguard Group, Inc.66,435 units ofVanguard Target Retirement 2020 Trust I5,638 
*The Vanguard Group, Inc.57,874 units ofVanguard Target Retirement 2070 Trust I1,721 
615,839 
*Participant loans
Participant loans (interest rates of 4.25%-9.50%, maturing through 2031)
29,660 
Total investments at fair value$1,216,833 
*Party-in-interest
See accompanying Report of Independent Registered Public Accounting Firm