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 |
|---|---|---|---|---|---|
| Brown Advisory Inc | 893,154 | $84.2M | 0.11% | −6,133−0.7% | Reduced |
| BLI - Banque de Luxembourg Investments | 902,895 | $85.2M | 2.48% | −4,900−0.5% | Reduced |
| Agf Management Ltd | 755,322 | $86.3M | 0.38% | −45,228−5.6% | Reduced |
| MUFG Securities (Canada), Ltd. | 919,403 | $86.7M | 2.42% | −18,235−1.9% | Reduced |
| Douglass Winthrop Advisors, LLC | 1,085,209 | $102.3M | 1.78% | +7,828+0.7% | Added |
| Two Sigma Investments, LP | 1,247,971 | $117.7M | 0.18% | +111,090+9.8% | Added |
| Dimensional Fund Advisors LP | 1,258,404 | $118.7M | 0.03% | +10,500+0.8% | Added |
| Nuveen, LLC | 1,289,858 | $121.7M | 0.03% | −29,663−2.2% | Reduced |
| Stifel Financial Corp | 1,358,627 | $128.1M | 0.12% | +181,779+15.4% | Added |
| Loring Wolcott & Coolidge Fiduciary Advisors LLP | 1,392,998 | $133.7M | 1.17% | −32,081−2.3% | Reduced |
| Toronto Dominion Bank | 1,452,212 | $136.9M | 0.27% | +88,340+6.5% | Added |
| Findlay Park Partners LLP | 1,463,768 | $138.0M | 1.45% | −26,600−1.8% | Reduced |
| Charles Schwab Investment Management Inc | 1,527,844 | $144.1M | 0.02% | +4850.0% | Added |
| Swiss National Bank | 1,534,600 | $144.8M | 0.08% | −88,800−5.5% | Reduced |
| Quadrature Capital Ltd | 1,739,700 | $164.0M | 1.94% | +1,642,700+1,693.5% | Added |
| TD Waterhouse Canada Inc. | 1,875,427 | $176.9M | 1.15% | +30,645+1.7% | Added |
| FMR LLC | 2,022,976 | $190.8M | 0.01% | +263,554+15.0% | Added |
| Fisher Asset Management, LLC | 2,062,815 | $194.5M | 0.07% | +239,015+13.1% | Added |
| Connor, Clark & Lunn Investment Management Ltd. | 2,168,232 | $204.4M | 0.64% | −2,051,918−48.6% | Reduced |
| Harding Loevner LP | 2,297,538 | $216.7M | 1.59% | −27,639−1.2% | Reduced |
| Morgan Stanley | 2,407,870 | $227.1M | 0.01% | +127,421+5.6% | Added |
| Bank of Nova Scotia | 2,685,798 | $253.3M | 0.45% | −88,301−3.2% | Reduced |
| Bank of America Corp | 2,733,973 | $257.8M | 0.02% | +935,425+52.0% | Added |
| Troy Asset Management Ltd | 2,738,372 | $258.2M | 6.63% | +1,360,723+98.8% | Added |
| Canoe Financial LP | 2,768,282 | $261.0M | 3.73% | +156,027+6.0% | Added |
| JPMorgan Chase & Co | 2,795,417 | $263.6M | 0.02% | +246,355+9.7% | Added |
| Canada Pension Plan Investment Board | 3,259,541 | $307.3M | 0.22% | −374,898−10.3% | Reduced |
| Goldman Sachs Group Inc | 3,499,784 | $330.0M | 0.05% | +1,2440.0% | Added |
| Clearbridge Investments, LLC | 3,504,882 | $330.5M | 0.25% | +2,185,540+165.7% | Added |
| Federation des caisses Desjardins du Quebec | 3,612,868 | $340.7M | 1.34% | +129,510+3.7% | Added |
| Scotia Capital Inc. | 3,703,622 | $349.1M | 1.49% | +204,898+5.9% | Added |
| Beutel, Goodman & Co Ltd. | 3,847,915 | $362.9M | 2.19% | −287,039−6.9% | Reduced |
| Manufacturers Life Insurance Company, The | 4,052,784 | $382.3M | 0.31% | −2,652,895−39.6% | Reduced |
| Legal & General Group Plc | 4,219,717 | $398.0M | 0.09% | −77,608−1.8% | Reduced |
| CIBC Asset Management Inc | 4,490,422 | $423.6M | 1.23% | −732,048−14.0% | Reduced |
| CIBC World Markets Inc. | 4,513,941 | $425.7M | 0.88% | −330,536−6.8% | Reduced |
| Geode Capital Management, LLC | 4,909,765 | $469.0M | 0.03% | +543,855+12.5% | Added |
| Bank of New York Mellon Corp | 5,232,657 | $493.4M | 0.09% | −480,922−8.4% | Reduced |
| Arrowstreet Capital, Limited Partnership | 5,991,738 | $565.0M | 0.36% | −305,090−4.8% | Reduced |
| Fiera Capital Corp | 6,471,710 | $610.1M | 1.97% | +671,127+11.6% | Added |
| National Bank of Canada | 6,912,021 | $651.4M | 0.74% | −542,494−7.3% | Reduced |
| Deutsche Bank AG | 7,815,995 | $737.0M | 0.25% | +1,761,366+29.1% | Added |
| Price T Rowe Associates Inc | 7,943,017 | $749.0M | 0.08% | +1,776,576+28.8% | Added |
| Mackenzie Financial Corp | 8,626,147 | $813.3M | 0.99% | +35,938+0.4% | Added |
| Jarislowsky, Fraser Ltd | 8,871,249 | $836.8M | 4.60% | −370,454−4.0% | Reduced |
| Lazard Asset Management LLC | 8,955,711 | $844.4M | 1.14% | +8,954,310+639,137.0% | Added |
| 1832 Asset Management L.P. | 9,452,820 | $891.4M | 1.51% | −1,170,153−11.0% | Reduced |
| Capital International Investors | 10,035,944 | $946.0M | 0.15% | −469,639−4.5% | Reduced |
| FIL Ltd | 10,535,341 | $993.5M | 0.78% | +5,807,825+122.9% | Added |
| TD Asset Management Inc | 11,464,138 | $1.08B | 0.88% | −608,402−5.0% | Reduced |
| Massachusetts Financial Services Co | 11,660,891 | $1.10B | 0.34% | −162,770−1.4% | Reduced |
| Wellington Management Group LLP | 11,675,838 | $1.10B | 0.19% | −10,832,887−48.1% | Reduced |
| Caisse de Depot Et Placement du Quebec | 13,894,922 | $1.31B | 2.36% | +157,000+1.1% | Added |
| Bank of Montreal | 14,201,675 | $1.34B | 0.59% | −27,093−0.2% | Reduced |
| TCI Fund Management LtdSuperinvestorTCI Fund Management | 18,767,774 | $1.77B | 3.36% | −4,221,292−18.4% | Reduced |
| Vanguard Group Inc | 24,300,252 | $2.29B | 0.03% | +372,859+1.6% | Added |
| Royal Bank of Canada | 26,832,399 | $2.53B | 0.45% | −1,319,248−4.7% | Reduced |
| Gates Foundation TrustSuperinvestorGates Foundation Trust | 51,826,786 | $4.89B | 13.36% | −3,000,000−5.5% | Reduced |
| Ninety One UK Ltd | 0 | $0 | 0.00% | −2,050,826−100.0% | Sold out |
| Marshall Wace, LLP | 0 | $0 | 0.00% | −384,230−100.0% | Sold out |
| Millennium Management LLC | 0 | $0 | 0.00% | −374,868−100.0% | Sold out |
| Point72 Asset Management, L.P. | 0 | $0 | 0.00% | −315,611−100.0% | Sold out |
| Eisler Capital Management Ltd. | 0 | $0 | 0.00% | −227,126−100.0% | Sold out |
| Trexquant Investment LP | 0 | $0 | 0.00% | −158,665−100.0% | Sold out |
| Haven Global Partners, LLC | 0 | $0 | 0.00% | −134,275−100.0% | Sold out |
| Forge First Asset Management Inc. | 0 | $0 | 0.00% | −131,900−100.0% | Sold out |
| AXA S.A. | 0 | $0 | 0.00% | −121,568−100.0% | Sold out |
| Waratah Capital Advisors Ltd. | 0 | $0 | 0.00% | −115,955−100.0% | Sold out |
| Cumberland Partners Ltd | 0 | $0 | 0.00% | −104,438−100.0% | Sold out |
| Schonfeld Strategic Advisors LLC | 0 | $0 | 0.00% | −80,000−100.0% | Sold out |
| Promethos Capital, LLC | 0 | $0 | 0.00% | −76,036−100.0% | Sold out |
| Magnetar Financial LLC | 0 | $0 | 0.00% | −62,287−100.0% | Sold out |
| Ninety One SA (PTY) Ltd | 0 | $0 | 0.00% | −49,410−100.0% | Sold out |
| Victory Capital Management Inc | 0 | $0 | 0.00% | −45,600−100.0% | Sold out |
| Ontario Teachers Pension Plan Board | 0 | $0 | 0.00% | −44,510−100.0% | Sold out |
| Littlejohn Financial Services, Inc. | 0 | $0 | 0.00% | −19,270−100.0% | Sold out |
| Ako Capital LLP | 0 | $0 | 0.00% | −19,073−100.0% | Sold out |
| Nebula Research & Development LLC | 0 | $0 | 0.00% | −18,059−100.0% | Sold out |
| Vestcor Inc | 0 | $0 | 0.00% | −14,200−100.0% | Sold out |
| Summit X, LLC | 0 | $0 | 0.00% | −11,440−100.0% | Sold out |
| NEOS Investment Management LLC | 0 | $0 | 0.00% | −11,357−100.0% | Sold out |
| Tema ETFs LLC | 0 | $0 | 0.00% | −11,357−100.0% | Sold out |
| Sage Capital Advisors,llc | 0 | $0 | 0.00% | −11,133−100.0% | Sold out |
| Fischer Financial Services, Inc. | 0 | $0 | 0.00% | −10,282−100.0% | Sold out |
| Greenland Capital Management LP | 0 | $0 | 0.00% | −9,719−100.0% | Sold out |
| Premier Fund Managers Ltd | 0 | $0 | 0.00% | −9,000−100.0% | Sold out |
| Headlands Technologies LLC | 0 | $0 | 0.00% | −7,431−100.0% | Sold out |
| Gluskin Sheff & Assoc Inc | 0 | $0 | 0.00% | −7,281−100.0% | Sold out |
| Centiva Capital, LP | 0 | $0 | 0.00% | −7,200−100.0% | Sold out |
| Arjuna Capital | 0 | $0 | 0.00% | −7,193−100.0% | Sold out |
| ICONIQ Capital, LLC | 0 | $0 | 0.00% | −6,571−100.0% | Sold out |
| V-Square Quantitative Management LLC | 0 | $0 | 0.00% | −4,734−100.0% | Sold out |
| Evoke Wealth, LLC | 0 | $0 | 0.00% | −6,308−100.0% | Sold out |
| Worldquant Millennium Advisors LLC | 0 | $0 | 0.00% | −5,955−100.0% | Sold out |
| Whittier Trust Co of Nevada Inc | 0 | $0 | 0.00% | −5,556−100.0% | Sold out |
| Empowered Funds, LLC | 0 | $0 | 0.00% | −5,477−100.0% | Sold out |
| Bridgefront Capital, LLC | 0 | $0 | 0.00% | −4,898−100.0% | Sold out |
| ROI Financial Advisors, LLC | 0 | $0 | 0.00% | −4,703−100.0% | Sold out |
| FORA Capital, LLC | 0 | $0 | 0.00% | −4,694−100.0% | Sold out |
| Mount Yale Investment Advisors, LLC | 0 | $0 | 0.00% | −4,363−100.0% | Sold out |