Pentwater Capital Management LP: NORFOLK SOUTHN CORP (NSC): Quarterly 13F Position History
As of Q2 2026, Pentwater Capital Management LP reported 2,775,000 shares of NORFOLK SOUTHN CORP (NSC), worth $873.0M and representing 7.0% of its 13F equity book. Quarter-over-quarter share count change: 445,000 (-13.8%) . The position first appeared in Q3 2025 and has been disclosed across 4 13F-HR filings in Pactolio's tracked window.
- 2,775,000Shares Held (Latest Filing)
- $873.0MReported Market Value (Latest Filing)
- 7.0%Portfolio Weight (% of 13F Equity Book)
- 445,000Quarter-over-Quarter Share Change
- -$51.2MQuarter-over-Quarter Value Change
- 3,220,000Peak Reported Shares (Historical)
Quarterly 13F-HR Disclosure History Source: SEC 13F-HR filings, 4 quarter s
| Quarter | Shares | QoQ Share Change | Share Change (%) | Market Value | Weight | Implied Price |
|---|---|---|---|---|---|---|
| Q2 2026 | 2,775,000 | 445,000 | -13.8% | $873.0M | 7.0% | $314.6 |
| Q1 2026 | 3,220,000 | +201,000 | +6.7% | $924.1M | 6.6% | $287.0 |
| Q4 2025 | 3,019,000 | +269,000 | +9.8% | $871.6M | 6.3% | $288.7 |
| Q3 2025 | 2,750,000 | – | – | $826.1M | 7.4% | $300.4 |
Methodology & FAQ
How This Position History Is Sourced
Each row is one SEC Form 13F-HR filing disclosing this position. Share count, market value, and reported quarter are taken verbatim from the filing; portfolio weight is recomputed against the same filing's total reported equity book. Implied price-per-share is market value divided by shares, a quarter-end mark rather than the manager's cost basis. See the full methodology document for the normalization rules.
When did Pentwater Capital Management LP first disclose a NSC position in 13F-HR filings?
Pentwater Capital Management LP first reported NORFOLK SOUTHN CORP (NSC) on its 13F-HR filing for the period ending 2025-09-30 (Q3 2025). The position has appeared on 4 reported quarters within Pactolio's tracked window.
What was Pentwater Capital Management LP's most recent quarter-over-quarter share-count change in NSC?
Between Q1 2026 and Q2 2026, Pentwater Capital Management LP reduced its NSC position by 445,000 shares (-13.8%), leaving 2,775,000 shares at a market value of $873.0M.
Does the implied price-per-share represent Pentwater Capital Management LP's cost basis in NSC?
No. The implied price-per-share column is the 13F-HR reported market value divided by reported share count on the filing date (end of quarter). It is a quarter-end mark, not a cost basis or transaction price. Use it as a sanity check on the value column, not as an indicator of the manager's entry or exit price.