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, Q4 2025
Institutional positions in Canadian National Railway Co as of Dec 31, 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
- 809
- +67 vs. Q3 2025
- Shares held
- 411.1M
- +9.62M (+2.4%) vs. Q3 2025
- Total value
- $40.8B
- +$2.91B (+7.7%) vs. Q3 2025
- New holders
- 116
- 253 more added
- Sold out
- 49
- 278 more reduced
16 institutions that held it in Q3 2025 haven't filed for Q4 2025 yet. Not filing isn't selling, so they aren't counted as sold out or in the changes above.
Compare with Q3 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, Q4 2025
Shares, value and share of portfolio for each institution holding Canadian National Railway Co; share changes are against Q3 2025.
| Institution | Shares | Value | % of portfolio | Change in shares | Action |
|---|---|---|---|---|---|
| Gates Foundation TrustSuperinvestorGates Foundation Trust | 51,826,786 | $5.12B | 14.49% | 00.0% | Unchanged |
| Royal Bank of Canada | 26,114,070 | $2.58B | 0.45% | −718,329−2.7% | Reduced |
| Vanguard Group Inc | 24,646,922 | $2.44B | 0.04% | +346,670+1.4% | Added |
| 1832 Asset Management L.P. | 18,747,746 | $1.85B | 2.35% | +9,294,926+98.3% | Added |
| FIL Ltd | 15,745,744 | $1.56B | 1.17% | +5,210,403+49.5% | Added |
| Bank of Montreal | 14,178,973 | $1.40B | 0.57% | −22,702−0.2% | Reduced |
| Caisse de Depot Et Placement du Quebec | 13,894,922 | $1.38B | 2.33% | 00.0% | Unchanged |
| TD Asset Management Inc | 11,374,457 | $1.13B | 0.91% | −89,681−0.8% | Reduced |
| Massachusetts Financial Services Co | 10,584,719 | $1.05B | 0.34% | −1,076,172−9.2% | Reduced |
| Capital International Investors | 9,917,406 | $981.3M | 0.15% | −118,538−1.2% | Reduced |
| TCI Fund Management LtdSuperinvestorTCI Fund Management | 9,849,934 | $974.1M | 1.82% | −8,917,840−47.5% | Reduced |
| Wellington Management Group LLP | 9,315,803 | $922.4M | 0.16% | −2,360,035−20.2% | Reduced |
| Deutsche Bank AG | 8,998,101 | $889.5M | 0.29% | +1,182,106+15.1% | Added |
| Mackenzie Financial Corp | 8,894,923 | $882.0M | 1.04% | +268,776+3.1% | Added |
| Lazard Asset Management LLC | 8,903,624 | $880.6M | 1.49% | −52,087−0.6% | Reduced |
| Price T Rowe Associates Inc | 8,032,989 | $794.1M | 0.09% | +89,972+1.1% | Added |
| National Bank of Canada | 6,710,219 | $663.1M | 0.68% | −201,802−2.9% | Reduced |
| Fiera Capital Corp | 6,648,582 | $657.8M | 2.09% | +176,872+2.7% | Added |
| Arrowstreet Capital, Limited Partnership | 6,165,148 | $609.6M | 0.36% | +173,410+2.9% | Added |
| Norges Bank | 5,764,854 | $570.2M | 0.06% | +5,764,854 | New |
| Geode Capital Management, LLC | 5,119,084 | $514.9M | 0.03% | +209,319+4.3% | Added |
| CIBC World Markets Inc. | 5,165,704 | $510.6M | 0.91% | +651,763+14.4% | Added |
| Clearbridge Investments, LLC | 4,481,206 | $443.0M | 0.35% | +976,324+27.9% | Added |
| Manufacturers Life Insurance Company, The | 4,452,495 | $441.3M | 0.36% | +399,711+9.9% | Added |
| Legal & General Group Plc | 4,113,459 | $407.4M | 0.09% | −106,258−2.5% | Reduced |
| Scotia Capital Inc. | 3,839,951 | $379.6M | 1.53% | +136,329+3.7% | Added |
| Federation des caisses Desjardins du Quebec | 3,780,155 | $374.0M | 1.43% | +167,287+4.6% | Added |
| Canada Pension Plan Investment Board | 3,604,681 | $356.5M | 0.24% | +345,140+10.6% | Added |
| Goldman Sachs Group Inc | 3,597,734 | $355.6M | 0.05% | +97,950+2.8% | Added |
| CIBC Asset Management Inc | 3,510,774 | $348.1M | 0.84% | −979,648−21.8% | Reduced |
| Connor, Clark & Lunn Investment Management Ltd. | 3,067,634 | $303.4M | 0.80% | +899,402+41.5% | Added |
| Canoe Financial LP | 2,924,042 | $289.2M | 3.93% | +155,760+5.6% | Added |
| Troy Asset Management Ltd | 2,736,154 | $288.0M | 7.42% | −2,218−0.1% | Reduced |
| Bank of Nova Scotia | 2,826,410 | $279.5M | 0.41% | +140,612+5.2% | Added |
| Morgan Stanley | 2,649,092 | $261.9M | 0.02% | +241,222+10.0% | Added |
| Beutel, Goodman & Co Ltd. | 2,629,511 | $260.4M | 1.60% | −1,218,404−31.7% | Reduced |
| JPMorgan Chase & Co | 2,345,167 | $231.8M | 0.02% | −450,250−16.1% | Reduced |
| Bank of America Corp | 2,319,526 | $229.3M | 0.02% | −414,447−15.2% | Reduced |
| Fisher Asset Management, LLC | 2,279,778 | $225.4M | 0.08% | +216,963+10.5% | Added |
| Quadrature Capital Ltd | 2,261,305 | $223.9M | 2.29% | +521,605+30.0% | Added |
| Harding Loevner LP | 2,143,651 | $211.9M | 1.86% | −153,887−6.7% | Reduced |
| Toronto Dominion Bank | 2,046,347 | $202.4M | 0.36% | +594,135+40.9% | Added |
| TD Waterhouse Canada Inc. | 1,978,313 | $195.6M | 1.22% | +102,886+5.5% | Added |
| FMR LLC | 1,621,619 | $160.4M | 0.01% | −401,357−19.8% | Reduced |
| Charles Schwab Investment Management Inc | 1,579,907 | $156.5M | 0.02% | +52,063+3.4% | Added |
| Swiss National Bank | 1,393,900 | $138.1M | 0.08% | −140,700−9.2% | Reduced |
| Stifel Financial Corp | 1,358,452 | $134.3M | 0.12% | −1750.0% | Reduced |
| Cardinal Capital Management, Inc. | 974,350 | $132.3M | 2.97% | +232,120+31.3% | Added |
| Loring Wolcott & Coolidge Fiduciary Advisors LLP | 1,305,390 | $131.2M | 1.19% | −87,608−6.3% | Reduced |
| Dimensional Fund Advisors LP | 1,280,638 | $126.6M | 0.03% | +22,234+1.8% | Added |
| AQR Capital Management LLC | 1,234,030 | $122.1M | 0.06% | +1,214,836+6,329.2% | Added |
| Findlay Park Partners LLP | 1,216,968 | $120.3M | 1.53% | −246,800−16.9% | Reduced |
| Nuveen, LLC | 1,198,901 | $118.7M | 0.03% | −90,957−7.1% | Reduced |
| Balyasny Asset Management LLC | 1,143,186 | $113.0M | 0.21% | +1,128,186+7,521.2% | Added |
| Invesco Ltd. | 1,089,190 | $107.7M | 0.01% | +216,316+24.8% | Added |
| Douglass Winthrop Advisors, LLC | 1,003,520 | $99.2M | 1.73% | −81,689−7.5% | Reduced |
| Brown Advisory Inc | 855,544 | $84.6M | 0.12% | −37,610−4.2% | Reduced |
| BLI - Banque de Luxembourg Investments | 844,888 | $83.7M | 2.45% | −58,007−6.4% | Reduced |
| MUFG Securities (Canada), Ltd. | 834,086 | $82.5M | 2.29% | −85,317−9.3% | Reduced |
| British Columbia Investment Management Corp | 820,775 | $81.2M | 0.43% | +482,005+142.3% | Added |
| Amundi | 821,063 | $81.2M | 0.02% | −37,186−4.3% | Reduced |
| Letko, Brosseau & Associates Inc | 773,340 | $76.6M | 1.25% | +773,340 | New |
| Scheer, Rowlett & Associates Investment Management Ltd. | 761,487 | $75.3M | 5.17% | −118,700−13.5% | Reduced |
| Two Sigma Investments, LP | 750,930 | $74.2M | 0.11% | −497,041−39.8% | Reduced |
| Alberta Investment Management Corp | 718,500 | $71.1M | 0.43% | −4,100−0.6% | Reduced |
| Agf Management Ltd | 539,682 | $69.8M | 0.30% | −215,640−28.5% | Reduced |
| QV Investors Inc. | 629,069 | $62.3M | 5.10% | +43,523+7.4% | Added |
| Franklin Resources Inc | 629,572 | $62.3M | 0.02% | +1,972+0.3% | Added |
| DekaBank Deutsche Girozentrale | 456,770 | $61.8M | 0.12% | 00.0% | Unchanged |
| Addenda Capital Inc. | 454,002 | $61.6M | 1.81% | −14,312−3.1% | Reduced |
| Voloridge Investment Management, LLC | 606,175 | $59.9M | 0.21% | −174,039−22.3% | Reduced |
| Value Partners Investments Inc. | 604,155 | $59.8M | 4.59% | +2,235+0.4% | Added |
| SEI Investments Co | 577,126 | $57.0M | 0.06% | +14,224+2.5% | Added |
| Lincluden Management Ltd | 419,122 | $56.9M | 4.83% | −15,222−3.5% | Reduced |
| Intact Investment Management Inc. | 565,920 | $56.0M | 1.61% | +129,450+29.7% | Added |
| Northern Trust Corp | 560,016 | $55.4M | 0.01% | +37,153+7.1% | Added |
| Russell Investments Group, Ltd. | 545,277 | $54.0M | 0.06% | −1,973−0.4% | Reduced |
| State of Tennessee, Treasury Department | 537,779 | $51.9M | 0.17% | −178,758−24.9% | Reduced |
| Point72 Asset Management, L.P. | 522,622 | $51.6M | 0.08% | +522,622 | New |
| Dixon Mitchell Investment Counsel Inc. | 502,525 | $49.8M | 1.64% | −2,775−0.5% | Reduced |
| Bank of New York Mellon Corp | 500,597 | $49.5M | 0.01% | −4,732,060−90.4% | Reduced |
| Clean Energy Transition LLP | 478,184 | $47.3M | 3.94% | +478,184 | New |
| UBS Group AG | 451,954 | $44.7M | 0.01% | −65,732−12.7% | Reduced |
| Aviva PLC | 448,612 | $44.4M | 0.07% | +22,925+5.4% | Added |
| Northwest & Ethical Investments L.P. | 430,970 | $42.6M | 0.96% | +47,671+12.4% | Added |
| BCV Asset Management Inc. | 294,559 | $42.5M | 1.07% | +294,559 | New |
| Guardian Capital LP | 399,231 | $39.5M | 1.17% | +40,035+11.1% | Added |
| Millennium Management LLC | 385,156 | $38.1M | 0.03% | +385,156 | New |
| BlackRock, Inc. | 385,055 | $38.1M | 0.00% | +2,312+0.6% | Added |
| Saturna Capital CORP | 384,214 | $38.0M | 0.50% | −660.0% | Reduced |
| First Trust Advisors LP | 367,766 | $36.4M | 0.03% | −41,311−10.1% | Reduced |
| Picton Mahoney Asset Management | 344,448 | $34.1M | 0.37% | +170,245+97.7% | Added |
| Public Sector Pension Investment Board | 341,109 | $33.7M | 0.11% | −69,770−17.0% | Reduced |
| Duff & Phelps Investment Management Co | 336,789 | $33.4M | 0.38% | +34,249+11.3% | Added |
| Korea Investment CORP | 325,541 | $32.2M | 0.06% | +3,576+1.1% | Added |
| CIBC Private Wealth Group, LLC | 317,879 | $31.4M | 0.05% | −22,829−6.7% | Reduced |
| Adage Capital Partners GP, L.L.C. | 312,500 | $30.9M | 0.05% | +312,500 | New |
| Renaissance Technologies LLC | 302,600 | $29.9M | 0.05% | +52,200+20.8% | Added |
| American Century Companies Inc | 296,124 | $29.3M | 0.01% | +45,777+18.3% | Added |
| Ycg, LLC | 293,152 | $29.0M | 2.19% | +1,366+0.5% | Added |