Canadian National Railway Co
CNI- Exchange
- NYSE
- Industry
- Railroads, Line-Haul Operating
- SEC CIK
- 0000016868
No open-market purchases or sales by Canadian National Railway Co insiders were filed in the last 90 days; 849 institutions reported holding it in 13F filings for Q2 2026, worth $48.6B in total; 5 superinvestors hold it, including Gates Foundation Trust and TCI Fund Management.
13F holders, Q3 2025
Institutional positions in Canadian National Railway Co as of Sep 30, 2025. Investment managers with $100 million or more in US stocks report their long positions on Form 13F within 45 days after each quarter ends. How 13F works
- Institutional holders
- 758
- −48 vs. Q2 2025
- Shares held
- 411.6M
- −10.5M (−2.5%) vs. Q2 2025
- Total value
- $38.9B
- −$5.14B (−11.7%) vs. Q2 2025
- New holders
- 54
- 243 more added
- Sold out
- 102
- 292 more reduced
15 institutions that held it in Q2 2025 haven't filed for Q3 2025 yet. Not filing isn't selling, so they aren't counted as sold out or in the changes above.
Compare with Q2 2025: new holders, sold out and not filed yet
Holders and value by quarter
Institutions reporting CNI on Form 13F each quarter since Q1 2021, and the total value they reported. Values are as of each quarter end, so they also move with the share price.
| Quarter | Holders | Value |
|---|---|---|
| Q2 2026 | 849 | $48.6B |
| Q1 2026 | 831 | $42.0B |
| Q4 2025 | 809 | $40.8B |
| Q3 2025 | 758 | $38.9B |
| Q2 2025 | 821 | $44.8B |
| Q1 2025 | 824 | $41.8B |
| Q4 2024 | 857 | $43.1B |
| Q3 2024 | 852 | $50.0B |
| Q2 2024 | 855 | $51.9B |
| Q1 2024 | 857 | $59.1B |
| Q4 2023 | 825 | $57.2B |
| Q3 2023 | 773 | $49.4B |
| Q2 2023 | 792 | $55.1B |
| Q1 2023 | 792 | $54.5B |
| Q4 2022 | 784 | $54.8B |
| Q3 2022 | 739 | $50.2B |
| Q2 2022 | 758 | $47.2B |
| Q1 2022 | 779 | $54.6B |
| Q4 2021 | 782 | $51.5B |
| Q3 2021 | 714 | $48.5B |
| Q2 2021 | 710 | $43.5B |
| Q1 2021 | 725 | $46.7B |
Institutions, Q3 2025
Shares, value and share of portfolio for each institution holding Canadian National Railway Co; share changes are against Q2 2025.
| Institution | Shares | Value | % of portfolio | Change in shares | Action |
|---|---|---|---|---|---|
| Gates Foundation TrustSuperinvestorGates Foundation Trust | 51,826,786 | $4.89B | 13.36% | −3,000,000−5.5% | Reduced |
| Royal Bank of Canada | 26,832,399 | $2.53B | 0.45% | −1,319,248−4.7% | Reduced |
| Vanguard Group Inc | 24,300,252 | $2.29B | 0.03% | +372,859+1.6% | Added |
| TCI Fund Management LtdSuperinvestorTCI Fund Management | 18,767,774 | $1.77B | 3.36% | −4,221,292−18.4% | Reduced |
| Bank of Montreal | 14,201,675 | $1.34B | 0.59% | −27,093−0.2% | Reduced |
| Caisse de Depot Et Placement du Quebec | 13,894,922 | $1.31B | 2.36% | +157,000+1.1% | Added |
| Wellington Management Group LLP | 11,675,838 | $1.10B | 0.19% | −10,832,887−48.1% | Reduced |
| Massachusetts Financial Services Co | 11,660,891 | $1.10B | 0.34% | −162,770−1.4% | Reduced |
| TD Asset Management Inc | 11,464,138 | $1.08B | 0.88% | −608,402−5.0% | Reduced |
| FIL Ltd | 10,535,341 | $993.5M | 0.78% | +5,807,825+122.9% | Added |
| Capital International Investors | 10,035,944 | $946.0M | 0.15% | −469,639−4.5% | Reduced |
| 1832 Asset Management L.P. | 9,452,820 | $891.4M | 1.51% | −1,170,153−11.0% | Reduced |
| Lazard Asset Management LLC | 8,955,711 | $844.4M | 1.14% | +8,954,310+639,137.0% | Added |
| Jarislowsky, Fraser Ltd | 8,871,249 | $836.8M | 4.60% | −370,454−4.0% | Reduced |
| Mackenzie Financial Corp | 8,626,147 | $813.3M | 0.99% | +35,938+0.4% | Added |
| Price T Rowe Associates Inc | 7,943,017 | $749.0M | 0.08% | +1,776,576+28.8% | Added |
| Deutsche Bank AG | 7,815,995 | $737.0M | 0.25% | +1,761,366+29.1% | Added |
| National Bank of Canada | 6,912,021 | $651.4M | 0.74% | −542,494−7.3% | Reduced |
| Fiera Capital Corp | 6,471,710 | $610.1M | 1.97% | +671,127+11.6% | Added |
| Arrowstreet Capital, Limited Partnership | 5,991,738 | $565.0M | 0.36% | −305,090−4.8% | Reduced |
| Bank of New York Mellon Corp | 5,232,657 | $493.4M | 0.09% | −480,922−8.4% | Reduced |
| Geode Capital Management, LLC | 4,909,765 | $469.0M | 0.03% | +543,855+12.5% | Added |
| CIBC World Markets Inc. | 4,513,941 | $425.7M | 0.88% | −330,536−6.8% | Reduced |
| CIBC Asset Management Inc | 4,490,422 | $423.6M | 1.23% | −732,048−14.0% | Reduced |
| Legal & General Group Plc | 4,219,717 | $398.0M | 0.09% | −77,608−1.8% | Reduced |
| Manufacturers Life Insurance Company, The | 4,052,784 | $382.3M | 0.31% | −2,652,895−39.6% | Reduced |
| Beutel, Goodman & Co Ltd. | 3,847,915 | $362.9M | 2.19% | −287,039−6.9% | Reduced |
| Scotia Capital Inc. | 3,703,622 | $349.1M | 1.49% | +204,898+5.9% | Added |
| Federation des caisses Desjardins du Quebec | 3,612,868 | $340.7M | 1.34% | +129,510+3.7% | Added |
| Clearbridge Investments, LLC | 3,504,882 | $330.5M | 0.25% | +2,185,540+165.7% | Added |
| Goldman Sachs Group Inc | 3,499,784 | $330.0M | 0.05% | +1,2440.0% | Added |
| Canada Pension Plan Investment Board | 3,259,541 | $307.3M | 0.22% | −374,898−10.3% | Reduced |
| JPMorgan Chase & Co | 2,795,417 | $263.6M | 0.02% | +246,355+9.7% | Added |
| Canoe Financial LP | 2,768,282 | $261.0M | 3.73% | +156,027+6.0% | Added |
| Troy Asset Management Ltd | 2,738,372 | $258.2M | 6.63% | +1,360,723+98.8% | Added |
| Bank of America Corp | 2,733,973 | $257.8M | 0.02% | +935,425+52.0% | Added |
| Bank of Nova Scotia | 2,685,798 | $253.3M | 0.45% | −88,301−3.2% | Reduced |
| Morgan Stanley | 2,407,870 | $227.1M | 0.01% | +127,421+5.6% | Added |
| Harding Loevner LP | 2,297,538 | $216.7M | 1.59% | −27,639−1.2% | Reduced |
| Connor, Clark & Lunn Investment Management Ltd. | 2,168,232 | $204.4M | 0.64% | −2,051,918−48.6% | Reduced |
| Fisher Asset Management, LLC | 2,062,815 | $194.5M | 0.07% | +239,015+13.1% | Added |
| FMR LLC | 2,022,976 | $190.8M | 0.01% | +263,554+15.0% | Added |
| TD Waterhouse Canada Inc. | 1,875,427 | $176.9M | 1.15% | +30,645+1.7% | Added |
| Quadrature Capital Ltd | 1,739,700 | $164.0M | 1.94% | +1,642,700+1,693.5% | Added |
| Swiss National Bank | 1,534,600 | $144.8M | 0.08% | −88,800−5.5% | Reduced |
| Charles Schwab Investment Management Inc | 1,527,844 | $144.1M | 0.02% | +4850.0% | Added |
| Findlay Park Partners LLP | 1,463,768 | $138.0M | 1.45% | −26,600−1.8% | Reduced |
| Toronto Dominion Bank | 1,452,212 | $136.9M | 0.27% | +88,340+6.5% | Added |
| Loring Wolcott & Coolidge Fiduciary Advisors LLP | 1,392,998 | $133.7M | 1.17% | −32,081−2.3% | Reduced |
| Stifel Financial Corp | 1,358,627 | $128.1M | 0.12% | +181,779+15.4% | Added |
| Nuveen, LLC | 1,289,858 | $121.7M | 0.03% | −29,663−2.2% | Reduced |
| Dimensional Fund Advisors LP | 1,258,404 | $118.7M | 0.03% | +10,500+0.8% | Added |
| Two Sigma Investments, LP | 1,247,971 | $117.7M | 0.18% | +111,090+9.8% | Added |
| Douglass Winthrop Advisors, LLC | 1,085,209 | $102.3M | 1.78% | +7,828+0.7% | Added |
| MUFG Securities (Canada), Ltd. | 919,403 | $86.7M | 2.42% | −18,235−1.9% | Reduced |
| Agf Management Ltd | 755,322 | $86.3M | 0.38% | −45,228−5.6% | Reduced |
| BLI - Banque de Luxembourg Investments | 902,895 | $85.2M | 2.48% | −4,900−0.5% | Reduced |
| Brown Advisory Inc | 893,154 | $84.2M | 0.11% | −6,133−0.7% | Reduced |
| Scheer, Rowlett & Associates Investment Management Ltd. | 880,187 | $83.0M | 4.95% | +77,930+9.7% | Added |
| Amundi | 858,249 | $82.9M | 0.03% | −288,386−25.2% | Reduced |
| Invesco Ltd. | 872,874 | $82.3M | 0.01% | +123,758+16.5% | Added |
| Burgundy Asset Management Ltd. | 845,531 | $81.8M | 0.77% | +136,747+19.3% | Added |
| Voloridge Investment Management, LLC | 780,214 | $73.6M | 0.25% | +168,547+27.6% | Added |
| Cardinal Capital Management, Inc. | 742,230 | $70.0M | 2.02% | +10,880+1.5% | Added |
| Alberta Investment Management Corp | 722,600 | $68.1M | 0.49% | −301,900−29.5% | Reduced |
| State of Tennessee, Treasury Department | 716,537 | $67.6M | 0.23% | −1,600−0.2% | Reduced |
| Addenda Capital Inc. | 468,314 | $61.5M | 1.82% | −946−0.2% | Reduced |
| Two Sigma Advisers, LP | 635,872 | $60.0M | 0.12% | +116,400+22.4% | Added |
| Franklin Resources Inc | 627,600 | $59.2M | 0.01% | +44,381+7.6% | Added |
| Value Partners Investments Inc. | 601,920 | $56.7M | 4.63% | +47,975+8.7% | Added |
| QV Investors Inc. | 585,546 | $55.2M | 4.78% | −5,409−0.9% | Reduced |
| SEI Investments Co | 562,902 | $53.1M | 0.06% | +48,133+9.4% | Added |
| HSBC Holdings PLC | 557,945 | $52.6M | 0.03% | +133,622+31.5% | Added |
| Russell Investments Group, Ltd. | 547,250 | $51.6M | 0.06% | −71,507−11.6% | Reduced |
| Northern Trust Corp | 522,863 | $49.3M | 0.01% | −53,055−9.2% | Reduced |
| UBS Group AG | 517,686 | $48.8M | 0.01% | −305,708−37.1% | Reduced |
| Ameriprise Financial Inc | 526,346 | $48.3M | 0.01% | +110,122+26.5% | Added |
| Dixon Mitchell Investment Counsel Inc. | 505,300 | $47.7M | 1.70% | −15,454−3.0% | Reduced |
| Bornite Capital Management LP | 500,000 | $47.1M | 4.38% | +500,000 | New |
| DekaBank Deutsche Girozentrale | 456,770 | $42.6M | 0.07% | 00.0% | Unchanged |
| Cidel Asset Management Inc | 450,643 | $42.5M | 2.44% | +51,374+12.9% | Added |
| Intact Investment Management Inc. | 436,470 | $41.2M | 1.25% | −62,023−12.4% | Reduced |
| Lincluden Management Ltd | 434,344 | $40.7M | 4.53% | +17,257+4.1% | Added |
| Aviva PLC | 425,687 | $40.1M | 0.07% | +25,300+6.3% | Added |
| BNP Paribas Arbitrage, SA | 423,296 | $39.9M | 0.03% | −232,544−35.5% | Reduced |
| Public Sector Pension Investment Board | 410,879 | $38.8M | 0.14% | +357,392+668.2% | Added |
| First Trust Advisors LP | 409,077 | $38.6M | 0.03% | +34,314+9.2% | Added |
| Saturna Capital CORP | 384,280 | $36.2M | 0.47% | 00.0% | Unchanged |
| Northwest & Ethical Investments L.P. | 383,299 | $36.1M | 0.85% | +5,637+1.5% | Added |
| BlackRock, Inc. | 382,743 | $36.1M | 0.00% | −114,400−23.0% | Reduced |
| Great West Life Assurance Co | 377,444 | $35.4M | 0.05% | +1,779+0.5% | Added |
| Guardian Capital LP | 359,196 | $33.9M | 1.09% | +14,282+4.1% | Added |
| Public Employees Retirement System of Ohio | 346,259 | $32.7M | 0.10% | −23,957−6.5% | Reduced |
| Zurcher Kantonalbank (Zurich Cantonalbank) | 342,605 | $32.3M | 0.07% | +109,094+46.7% | Added |
| CIBC Private Wealth Group, LLC | 340,708 | $32.1M | 0.06% | +14,843+4.6% | Added |
| British Columbia Investment Management Corp | 338,770 | $31.9M | 0.18% | −700,675−67.4% | Reduced |
| APG Asset Management N.V. | 378,900 | $30.4M | 0.09% | −4,000−1.0% | Reduced |
| Korea Investment CORP | 321,965 | $30.4M | 0.06% | −81,577−20.2% | Reduced |
| Partners Group Holding AG | 307,025 | $28.9M | 1.60% | −111,356−26.6% | Reduced |
| Duff & Phelps Investment Management Co | 302,540 | $28.5M | 0.32% | +126,063+71.4% | Added |