Forge First Asset Management’s Canadian National Railway CNI Stock Holding History

Forge First Asset Management’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 Q3	–	Sell	-131,900	Closed	-$13.7M	–	45
2025 Q2	$13.7M	Sell	131,900 -97,400	-42%	-$9.91M	4.96%	7
2025 Q1	$22.3M	Buy	229,300 +52,500	+30%	+$5.31M	9.73%	1
2024 Q4	$17.9M	Buy	+176,800	New	+$19.3M	6.44%	4
2023 Q3	–	Sell	-19,500	Closed	-$2.36M	–	39
2023 Q2	$2.36M	Sell	19,500 -154,400	-89%	-$18.3M	1.19%	26
2023 Q1	$20.5M	Sell	173,900 -22,300	-11%	-$2.64M	9.25%	3
2022 Q4	$23.3M	Buy	+196,200	New	+$23.5M	9.14%	2

Other funds holding CNI

Gates Foundation Trust Kirkland, Washington $34.4B AUM 26.34% 1-Year Est. Return

Royal Bank of Canada Toronto, Ontario, Canada $672B AUM 33.48% 1-Year Est. Return

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

TCI Fund Management London, United Kingdom $52.8B AUM 12.71% 1-Year Est. Return

Bank of Montreal Toronto, Ontario, Canada $304B AUM 35.64% 1-Year Est. Return

Caisse de Depot et Placement du Quebec (CDPQ) Montreal, Quebec, Canada $70.2B AUM 30.95% 1-Year Est. Return

Wellington Management Group Boston, Massachusetts $580B AUM 38.23% 1-Year Est. Return

Massachusetts Financial Services Boston, Massachusetts $315B AUM 27.84% 1-Year Est. Return

TD Asset Management Toronto, Ontario, Canada $115B AUM 41.58% 1-Year Est. Return

Fidelity International Hamilton, Bermuda $139B AUM 29.06% 1-Year Est. Return

Forge First Asset Management's CNI Position: Q3 2025 in Review

Forge First Asset Management sold out of Canadian National Railway (CNI) in Q3 2025, closing a stake of 131,900 shares — an estimated $13.7M sold.

Forge First Asset Management first reported a position in CNI in Q4 2022 and held it in 6 quarters. The position peaked at $23.3M in Q4 2022. 759 funds tracked by Wall St. Rank hold CNI as of Q3 2025.

Forge First Asset Management reported no remaining Canadian National Railway position as of Q3 2025 after selling out during the quarter.
Forge First Asset Management sold 131,900 Canadian National Railway shares in Q3 2025, an estimated $13.7M.
Forge First Asset Management first reported a position in Canadian National Railway in Q4 2022 and held it in 6 quarters.
Forge First Asset Management's Canadian National Railway position peaked at $23.3M in Q4 2022.
759 funds tracked by Wall St. Rank held Canadian National Railway as of Q3 2025.

Based on Forge First Asset Management's 13F filing for Q3 2025, filed 12 Nov 2025.