Canadian Natl RailwayCNI
13F holders, Q4 2025 (December 31)808holders +52
86new positions
48sold out
12famous investors
$99.27avg. 13F price*
At the end of Q4 2025, 808 institutions reported holding Canadian Natl Railway Co. (CNI) in their 13F filings, up 52 from Q3 2025. 86 opened new positions and 48 sold out. The largest holders were Gates Foundation Trust ($5.1B), Royal Bank of Canada ($2.6B) and Vanguard Group Inc. ($2.4B). 12 famous investors held it, including Bill Gates / Michael Larson (14.5% of Gates Foundation Trust's portfolio), Chris Hohn (1.8% of TCI Fund Management's portfolio) and Prem Watsa (0.1% of Fairfax Financial Holdings's portfolio).
- Company
- Canadian Natl Railway Co.
- CUSIP
- 136375102
- Latest filing quarter
- Q2 2026
History
Number of 13F holders
Total Exit/New Position Q3 2025 → Q4 2025
| Institutions | Total Value | |
|---|---|---|
| New Positions | 86 | $379.0M |
| Exits | 48 | $197.0M |
All 13F filers, Q3 2025 → Q4 2025: 32,720,678 shares bought and 29,808,914 shares sold, net +2,911,764 shares. Counts holders who added, trimmed, opened or closed a position; split-adjusted.
Ownership 808 holders
| Gates Foundation Trust | 14.49% | No change | 51,826,786 | $5.1B |
| Royal Bank of Canada | 0.45% | Reduce -2.7% | 26,114,070 | $2.6B |
| Vanguard Group Inc. | 0.04% | Add +1.4% | 24,646,922 | $2.4B |
| 1832 Asset Management L.P. | 2.37% | Add +98.3% | 18,747,746 | $1.9B |
| FIL Ltd | 1.17% | Add +49.5% | 15,745,744 | $1.6B |
| Bank of Montreal | 0.58% | Reduce -0.2% | 14,178,973 | $1.4B |
| Caisse de depot et placement du Quebec | 2.33% | No change | 13,894,922 | $1.4B |
| TD Asset Management Inc | 0.91% | Reduce -0.8% | 11,374,457 | $1.1B |
| Massachusetts Financial Services Co. | 0.34% | Reduce -9.2% | 10,584,719 | $1.0B |
| Capital International Investors | 0.15% | Reduce -1.2% | 9,917,406 | $981.3M |
| TCI Fund Management | 1.82% | Reduce -47.5% | 9,849,934 | $974.1M |
| Wellington Management Group LLP | 0.16% | Reduce -20.2% | 9,315,803 | $922.4M |
| Deutsche Bank AG | 0.29% | Add +15.1% | 8,998,101 | $889.5M |
| Mackenzie Financial Corp. | 1.04% | Add +3.1% | 8,894,923 | $882.0M |
| Lazard Asset Management LLC | 1.50% | Reduce -0.6% | 8,903,624 | $880.6M |
| T. Rowe Price Associates Inc. | 0.09% | Add +1.1% | 8,032,989 | $794.1M |
| National Bank of Canada | 0.68% | Reduce -2.9% | 6,710,219 | $663.1M |
| Fiera Capital Corp | 2.09% | Add +2.7% | 6,648,582 | $657.8M |
| Arrowstreet Capital, Limited Partnership | 0.36% | Add +2.9% | 6,165,148 | $609.6M |
| Norges Bank | 0.06% | — | 5,764,854 | $570.2M |
| Geode Capital Management, LLC | 0.03% | Add +4.3% | 5,119,084 | $514.9M |
| Cibc World Market Inc. | 0.91% | Add +14.4% | 5,165,704 | $510.6M |
| Clearbridge Investments, LLC | 0.36% | Add +27.9% | 4,481,206 | $443.0M |
| Manufacturers Life Insurance Company, The | 0.37% | Add +9.9% | 4,452,495 | $441.3M |
| Legal & General Group Plc | 0.09% | Reduce -2.5% | 4,113,459 | $407.4M |
| Scotia Capital Inc. | 1.53% | Add +3.7% | 3,839,951 | $379.6M |
| Federation des caisses Desjardins du Quebec | 1.43% | Add +4.6% | 3,780,155 | $374.0M |
| Canada Pension Plan Investment Board | 0.24% | Add +10.6% | 3,604,681 | $356.5M |
| Goldman Sachs Group Inc. | 0.05% | Add +2.8% | 3,597,734 | $355.6M |
| CIBC Asset Management Inc | 0.84% | Reduce -21.8% | 3,510,774 | $348.1M |
| Connor, Clark & Lunn Investment Management Ltd. | 0.80% | Add +41.5% | 3,067,634 | $303.4M |
| Canoe Financial LP | 3.93% | Add +5.6% | 2,924,042 | $289.2M |
| Troy Asset Management Ltd | 7.42% | Reduce -0.1% | 2,736,154 | $288.0M |
| Bank of Nova Scotia | 0.42% | Add +5.2% | 2,826,410 | $279.5M |
| Morgan Stanley | 0.02% | Add +10.0% | 2,649,092 | $261.9M |
| Beutel, Goodman & Co Ltd. | 1.60% | Reduce -31.7% | 2,629,511 | $260.4M |
| JPMorgan Chase & Co. | 0.02% | Reduce -16.1% | 2,345,167 | $231.8M |
| Bank of America Corp. | 0.02% | Reduce -15.2% | 2,319,526 | $229.3M |
| Fisher Asset Management | 0.08% | Add +10.5% | 2,279,778 | $225.4M |
| Quadrature Capital Ltd | 2.29% | Add +30.0% | 2,261,305 | $223.9M |
| Harding Loevner LP | 1.86% | Reduce -6.7% | 2,143,651 | $211.9M |
| Toronto Dominion Bank | 0.36% | Add +40.9% | 2,046,347 | $202.4M |
| TD Waterhouse Canada Inc. | 1.22% | Add +5.5% | 1,978,313 | $195.6M |
| FMR LLC | 0.01% | Reduce -19.8% | 1,621,619 | $160.4M |
| Charles Schwab Investment Management Inc. | 0.02% | Add +3.4% | 1,579,907 | $156.5M |
| Swiss National Bank | 0.08% | Reduce -9.2% | 1,393,900 | $138.1M |
| Stifel Financial Corp. | 0.12% | Reduce -0.0% | 1,358,452 | $134.3M |
| Cardinal Capital Management, Inc. | 2.97% | Add +31.3% | 974,350 | $132.3M |
| Loring Wolcott & Coolidge Fiduciary Advisors LLP | 1.19% | Reduce -6.3% | 1,305,390 | $131.2M |
| Dimensional Fund Advisors LP | 0.03% | Add +1.8% | 1,280,638 | $126.6M |
| AQR Capital Management | 0.06% | Add +6329.3% | 1,234,030 | $122.1M |
| Findlay Park Partners LLP | 1.53% | Reduce -16.9% | 1,216,968 | $120.3M |
| Nuveen, LLC | 0.03% | Reduce -7.0% | 1,198,901 | $118.7M |
| Balyasny Asset Management L.P. | 0.22% | Add +7521.2% | 1,143,186 | $113.0M |
| Invesco Ltd. | 0.01% | Add +24.8% | 1,089,190 | $107.7M |
| Douglass Winthrop Advisors, LLC | 1.73% | Reduce -7.5% | 1,003,520 | $99.2M |
| Brown Advisory Inc. | 0.12% | Reduce -4.2% | 855,544 | $84.6M |
| BLI - Banque de Luxembourg Investments | 2.45% | Reduce -6.4% | 844,888 | $83.7M |
| Mufg Securities (canada), LTD. | 2.29% | Reduce -9.3% | 834,086 | $82.5M |
| BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp | 0.43% | Add +142.3% | 820,775 | $81.2M |
| Amundi | 0.02% | Reduce -4.3% | 821,063 | $81.2M |
| Letko, Brosseau & Associates Inc. | 1.25% | New | 773,340 | $76.6M |
| Scheer, Rowlett & Associates Investment Management Ltd. | 5.17% | Reduce -13.5% | 761,487 | $75.3M |
| Two Sigma Investments, LP | 0.12% | Reduce -39.8% | 750,930 | $74.2M |
| Alberta Investment Management Corp | 0.47% | Reduce -0.6% | 718,500 | $71.1M |
| Agf Management Ltd. | 0.30% | Reduce -28.6% | 539,682 | $69.8M |
| QV Investors Inc. | 5.10% | Add +7.4% | 629,069 | $62.3M |
| Franklin Resources Inc. | 0.02% | Add +0.3% | 629,572 | $62.3M |
| DekaBank Deutsche Girozentrale | 0.11% | No change | 456,770 | $61.8M |
| Addenda Capital Inc. | 1.81% | Reduce -3.1% | 454,002 | $61.6M |
| Voloridge Investment Management, LLC | 0.21% | Reduce -22.3% | 606,175 | $59.9M |
| Value Partners Investments Inc. | 4.59% | Add +0.4% | 604,155 | $59.8M |
| Sei Investments Co. | 0.06% | Add +2.5% | 577,126 | $57.0M |
| MORGUARD LINCLUDEN GLOBAL INVESTMENTS Ltd | 4.83% | Reduce -3.5% | 419,122 | $56.9M |
| Intact Investment Management Inc. | 1.61% | Add +29.7% | 565,920 | $56.0M |
| Northern Trust Corp. | 0.01% | Add +7.1% | 560,016 | $55.4M |
| Russell Investments Group, Ltd. | 0.06% | Reduce -0.4% | 545,277 | $54.0M |
| State of Tennessee, Department of Treasury | 0.17% | Reduce -24.9% | 537,779 | $51.9M |
| Point72 Asset Management | 0.08% | New | 522,622 | $51.6M |
| Dixon Mitchell Investment Counsel Inc. | 1.64% | Reduce -0.6% | 502,525 | $49.8M |
| Bank of New York Mellon Corp | 0.01% | Reduce -90.4% | 500,597 | $49.5M |
| Clean Energy Transition LLP | 3.94% | New | 478,184 | $47.3M |
| UBS Group AG | 0.01% | Reduce -12.7% | 451,954 | $44.7M |
| Aviva PLC | 0.07% | Add +5.4% | 448,612 | $44.4M |
| Northwest & Ethical Investments L.P. | 0.96% | Add +12.4% | 430,970 | $42.6M |
| BCV Asset Management Inc. | 1.07% | — | 294,559 | $42.5M |
| Guardian Capital LP | 1.17% | Add +11.2% | 399,231 | $39.5M |
| Millennium Management | 0.03% | New | 385,156 | $38.1M |
| BlackRock, Inc. | 0.00% | Add +0.6% | 385,055 | $38.1M |
| Saturna Capital Corp. | 0.50% | Reduce -0.0% | 384,214 | $38.0M |
| First Trust Advisors LP | 0.03% | Reduce -10.1% | 367,766 | $36.4M |
| Picton Mahoney Asset Management | 0.37% | Add +97.7% | 344,448 | $34.1M |
| Public Sector Pension Investment Board | 0.11% | Reduce -17.0% | 341,109 | $33.7M |
| Duff & Phelps Investment Management Co. | 0.38% | Add +11.3% | 336,789 | $33.4M |
| Korea Investment CORP | 0.06% | Add +1.1% | 325,541 | $32.2M |
| CIBC Private Wealth Group LLC | 0.05% | Reduce -6.7% | 317,879 | $31.4M |
| Adage Capital Partners Gp, L.L.C. | 0.05% | New | 312,500 | $30.9M |
| Renaissance Technologies | 0.05% | Add +20.9% | 302,600 | $29.9M |
| American Century Companies Inc. | 0.01% | Add +18.3% | 296,124 | $29.3M |
| Ycg, LLC | 2.19% | Add +0.5% | 293,152 | $29.0M |
"% of holder's portfolio" is CNI's weight in each manager's 13F, not the share of Canadian Natl Railway Co. the manager owns.