CNINYSERailroads, Line-Haul OperatingFiscal year ends December 31
CANADIAN NATIONAL RAILWAY CO
Financials through fiscal 2025, year ended Dec 31, 2025Last filing: 40-F on Feb 4, 2026
$120.09−1.70 (-1.40%)
Close on Oct 19, 2026
Ownership
Institutional holdings as of Jun 30, 2026, from 13F filings
Held by institutions
65.8%
404M of 614M shares
Institutional holders
843
88 new, 60 sold out
Net institutional buying
3M
In Q2 2026
Insider trades, 12 months
0 buys · 0 sales
Open-market trades only
Shares held by institutions
Top institutional holders
13F holdings as of Jun 30, 2026
| Holder | Shares | % of CNI | Value | Change | % of portfolio |
|---|---|---|---|---|---|
| Bill & Melinda Gates Foundation Trust | 51,826,786 | 8.43% | $6.18B | – | 17.95% |
| Royal Bank of Canada | 31,156,081 | 5.07% | $3.72B | +3,646,856 | 0.55% |
| FIL Ltd | 19,129,315 | 3.11% | $2.28B | +2,288,097 | 1.64% |
| Caisse De Depot Et Placement Du Quebec | 18,962,558 | 3.09% | $2.26B | +178,385 | 3.22% |
| 1832 Asset Management L.P. | 16,518,344 | 2.69% | $1.97B | −2,164,896 | 0.99% |
| Vanguard Capital Management LLC | 15,918,701 | 2.59% | $1.90B | +120,099 | 0.04% |
| Bank Of Montreal /Can/ | 14,841,305 | 2.42% | $1.77B | +845,548 | 0.58% |
| TD Asset Management Inc | 9,907,691 | 1.61% | $1.18B | −2,223,622 | 1.02% |
| Tci Fund Management Ltd | 9,433,422 | 1.54% | $1.12B | −416,512 | 2.13% |
| Mackenzie Financial Corp | 8,939,323 | 1.45% | $1.51B | +163,017 | 1.51% |
| Wellington Management Group Llp | 8,537,192 | 1.39% | $1.02B | −2,985,994 | 0.18% |
| CIBC Asset Management Inc | 6,861,848 | 1.12% | $819.90M | +3,193,207 | 1.80% |
| National Bank Of Canada /Fi/ | 6,761,268 | 1.10% | $805.31M | +76,139 | 0.58% |
| Deutsche Bank AG\ | 6,062,146 | 0.99% | $722.85M | −1,142,973 | 0.21% |
| Price T Rowe Associates Inc /Md/ | 6,052,322 | 0.99% | $721.68K | −424,251 | 0.07% |
| Clearbridge Investments, LLC | 5,964,425 | 0.97% | $711.20M | +711,429 | 0.59% |
| Geode Capital Management, LLC | 5,829,986 | 0.95% | $706.75M | +607,775 | 0.04% |
| Norges Bank | 5,695,165 | 0.93% | $678.97M | New | 0.07% |
| Connor, Clark & Lunn Investment Management Ltd. | 5,674,241 | 0.92% | $676.36M | +1,099,056 | 1.28% |
| Fiera Capital Corp | 5,406,877 | 0.88% | $643.97M | −784,633 | 2.34% |
Institutional buying and selling by quarter
Positions opened, added to, reduced and closed by 13F filers
| Quarter | Holders | Shares held | % of shares | New / added | Reduced / closed | Shares bought | Shares sold |
|---|---|---|---|---|---|---|---|
| Q2 2026 | 843 | 404M | 65.8% | 88 / 303 | 258 / 60 | 35M | 32M |
| Q1 2026 | 828 | 401M | 65.3% | 95 / 271 | 284 / 65 | 55M | 40M |
| Q4 2025 | 808 | 411M | 66.9% | 115 / 255 | 277 / 48 | 39M | 33M |
| Q3 2025 | 757 | 414M | 67.4% | 54 / 245 | 290 / 103 | 35M | 77M |
| Q2 2025 | 820 | 458M | 74.5% | 78 / 280 | 281 / 68 | 57M | 27M |
| Q1 2025 | 822 | 428M | 69.7% | 70 / 260 | 318 / 94 | 21M | 32M |
| Q4 2024 | 856 | 440M | 71.7% | 101 / 248 | 334 / 83 | 39M | 28M |
| Q3 2024 | 852 | 430M | 69.9% | 72 / 286 | 301 / 66 | 22M | 35M |
| Q2 2024 | 854 | 443M | 72.1% | 74 / 262 | 318 / 65 | 19M | 30M |
| Q1 2024 | 855 | 456M | 74.2% | 89 / 281 | 292 / 47 | 15M | 19M |
| Q4 2023 | 824 | 460M | 74.9% | 114 / 276 | 265 / 46 | 22M | 19M |
| Q3 2023 | 772 | 458M | 74.5% | 62 / 246 | 288 / 75 | 21M | 20M |
Top mutual fund and ETF holders
Latest monthly portfolio reports (Form N-PORT)
| Fund | Shares | % of CNI | Value | % of fund | As of |
|---|---|---|---|---|---|
| Vanguard Total International Stock Index Fund | 7,998,805 | 1.30% | $1.43B | 0.16% | Jul 31, 2026 |
| Vanguard Developed Markets Index Fund | 5,312,463 | 0.86% | $899.13M | 0.20% | Jun 30, 2026 |
| Vanguard Dividend Growth Fund | 3,327,692 | 0.54% | $593.16M | 1.19% | Jul 31, 2026 |
| Fidelity SAI Canada Equity Index Fund | 2,675,213 | 0.44% | $242.65M | 2.14% | Jul 31, 2026 |
| Harding Loevner International Equity Portfolio | 2,285,743 | 0.37% | $290.77M | 2.29% | Jul 31, 2026 |
| Lazard Global Listed Infrastructure Portfolio | 2,150,306 | 0.35% | $180.94M | 2.06% | Jun 30, 2026 |
| Goldman Sachs GQG Partners International Opportunities Fund | 2,126,963 | 0.35% | $192.92M | 0.50% | Jul 31, 2026 |
| JPMorgan BetaBuilders Canada ETF | 1,958,823 | 0.32% | $177.67M | 2.29% | Jul 31, 2026 |
| Vanguard Windsor Fund | 1,634,753 | 0.27% | $207.96M | 0.82% | Jul 31, 2026 |
| Vanguard Ftse All-World Ex-US Index Fund | 1,294,040 | 0.21% | $230.66M | 0.17% | Jul 31, 2026 |
| Schwab International Equity ETF | 1,214,288 | 0.20% | $104.46M | 0.22% | May 31, 2026 |
| T. Rowe Price International Stock Fund | 1,109,327 | 0.18% | $141.12M | 1.05% | Jul 31, 2026 |
| Fidelity Series Canada Fund | 1,095,710 | 0.18% | $99.39M | 1.36% | Jul 31, 2026 |
| Fidelity Series Global ex U.S. Index Fund | 1,028,403 | 0.17% | $93.28M | 0.17% | Jul 31, 2026 |
| iShares MSCI Canada ETF | 933,463 | 0.15% | $80.18M | 2.02% | May 31, 2026 |
Planned insider sales
Notices of proposed sale filed on Form 144 before shares are sold
| Seller | Filed | Shares | Market value | Planned sale | Acquired through |
|---|---|---|---|---|---|
| M. Taylor Derek OFFICER | Dec 23, 2025 | 6,540 | $643.30K | Dec 23, 2025 | STOCK OPTION GRANT |
| Keith Reardon Donald OFFICER | Jul 25, 2024 | 7,892 | $962.82K | Jul 25, 2024 | STOCK OPTION EXERCISE |
| Keith Reardon Donald OFFICER | Feb 27, 2024 | 5,000 | $655.00K | Feb 27, 2024 | Vested PSU Settlement |
| Keith Reardon Donald OFFICER | Dec 12, 2023 | 8,940 | $1.06M | Dec 12, 2023 | STOCK OPTION GRANT |
| Klein Dorothea Officer | Jul 31, 2023 | 1,656 | $201.00K | Jul 31, 2023 | STOCK OPTION GRANT |
| Klein Dorothea Officer | May 11, 2023 | 19,658 | $2.39M | May 11, 2023 | STOCK OPTION GRANT |
| Randle Rance OFFICER | Apr 17, 2023 | 7,976 | $963.18K | Apr 17, 2023 | STOCK OPTION GRANT |