Carlson Capital’s Canadian National Railway CNI Stock Holding History

Carlson Capital’s Portfolio CNI Stock Details CNI Fund Activity

Bought

Maintained

Sold

Quarter	Market Value	Status	Shares	Change in Stake	Trade Value	Portfolio Weight	Portfolio Position
2025 Q4	–	Sell	-8,900	Closed	-$839K	–	78
2025 Q3	$839K	Buy	8,900 +4,000	+82%	+$386K	0.48%	29
2025 Q2	$510K	Buy	+4,900	New	+$499K	0.29%	51
2023 Q4	–	Sell	-91,886	Closed	-$9.95M	–	132
2023 Q3	$9.95M	Buy	91,886 +8,400	+10%	+$964K	0.78%	35
2023 Q2	$10.1M	Sell	83,486 -10,591	-11%	-$1.26M	0.87%	31
2023 Q1	$11.1M	Buy	94,077 +60,877	+183%	+$7.2M	1.04%	19
2022 Q4	$3.95M	Sell	33,200 -75,500	-69%	-$9.02M	0.3%	84
2022 Q3	$11.7M	Buy	+108,700	New	+$13M	0.89%	25
2022 Q2	–	Sell	-75,100	Closed	-$10.1M	–	132
2022 Q1	$10.1M	Buy	+75,100	New	+$9.39M	0.69%	37
2021 Q3	–	Sell	-66,094	Closed	-$6.97M	–	168
2021 Q2	$6.97M	Buy	66,094 +31,685	+92%	+$3.5M	0.34%	62
2021 Q1	$3.99M	Buy	+34,409	New	+$3.82M	0.15%	126
2019 Q2	–	Sell	-208,272	Closed	-$18.6M	–	262
2019 Q1	$18.6M	Buy	+208,272	New	+$17.5M	0.33%	96
2018 Q4	–	Sell	-150,236	Closed	-$13.5M	–	279
2018 Q3	$13.5M	Sell	150,236 -112,189	-43%	-$9.79M	0.17%	149
2018 Q2	$21.5M	Buy	+262,425	New	+$20.9M	0.3%	89

Other funds holding CNI

Gates Foundation Trust

Gates Foundation Trust Kirkland, Washington $31.7B AUM 20.52% 1-Year Est. Return

Royal Bank of Canada

Royal Bank of Canada Toronto, Ontario, Canada $528B AUM 27.57% 1-Year Est. Return

Vanguard Group Malvern, Pennsylvania $6.9T AUM 27.45% 1-Year Est. Return

1832 Asset Management

1832 Asset Management Toronto, Ontario, Canada $75.5B AUM 35.56% 1-Year Est. Return

Fidelity International

Fidelity International Hamilton, Bermuda $129B AUM 30.83% 1-Year Est. Return

Bank of Montreal

Bank of Montreal Toronto, Ontario, Canada $245B AUM 31.4% 1-Year Est. Return

Caisse de Depot et Placement du Quebec (CDPQ)

Caisse de Depot et Placement du Quebec (CDPQ) Montreal, Quebec, Canada $62.4B AUM 23.7% 1-Year Est. Return

TD Asset Management

TD Asset Management Toronto, Ontario, Canada $123B AUM 34.51% 1-Year Est. Return

Massachusetts Financial Services

Massachusetts Financial Services Boston, Massachusetts $298B AUM 21.96% 1-Year Est. Return

Capital International Investors

Capital International Investors Los Angeles, California $427B AUM 29.17% 1-Year Est. Return