Gates Foundation Trust’s Canadian National Railway CNI Stock Holding History

Gates Foundation Trust’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
2026 Q1	$5.33B	Hold	51,826,786	–	–	16.82%	3
2025 Q4	$5.12B	Hold	51,826,786	–	–	14.49%	3
2025 Q3	$4.89B	Sell	51,826,786 -3,000,000	-5%	-$289M	13.36%	3
2025 Q2	$5.7B	Hold	54,826,786	–	–	11.94%	4
2025 Q1	$5.34B	Hold	54,826,786	–	–	12.78%	4
2024 Q4	$5.57B	Hold	54,826,786	–	–	13.25%	4
2024 Q3	$6.42B	Hold	54,826,786	–	–	14.25%	4
2024 Q2	$6.48B	Hold	54,826,786	–	–	13.59%	4
2024 Q1	$7.22B	Hold	54,826,786	–	–	15.75%	4
2023 Q4	$6.89B	Hold	54,826,786	–	–	16.29%	3
2023 Q3	$5.94B	Hold	54,826,786	–	–	15.26%	3
2023 Q2	$6.64B	Hold	54,826,786	–	–	15.78%	3
2023 Q1	$6.47B	Hold	54,826,786	–	–	17.74%	2
2022 Q4	$6.52B	Hold	54,826,786	–	–	18.24%	3
2022 Q3	$5.92B	Buy	54,826,786 +44,548,156	+433%	+$5.31B	17.42%	3
2022 Q2	$1.16B	Sell	10,278,630 -2,787,539	-21%	-$326M	6.54%	4
2022 Q1	$1.75B	Hold	13,066,169	–	–	8.87%	3
2021 Q4	$1.61B	Hold	13,066,169	–	–	6.99%	4
2021 Q3	$1.51B	Sell	13,066,169 -841,114	-6%	-$93M	6.52%	4
2021 Q2	$1.47B	Hold	13,907,283	–	–	6.15%	4
2021 Q1	$1.61B	Sell	13,907,283 -3,071,985	-18%	-$341M	7.7%	4
2020 Q4	$1.87B	Sell	16,979,268 -147,606	-0.9%	-$15.9M	8.35%	4
2020 Q3	$1.82B	Hold	17,126,874	–	–	8.26%	3
2020 Q2	$1.52B	Hold	17,126,874	–	–	8.49%	3
2020 Q1	$1.33B	Hold	17,126,874	–	–	7.66%	3
2019 Q4	$1.55B	Hold	17,126,874	–	–	7.25%	4
2019 Q3	$1.54B	Hold	17,126,874	–	–	7.25%	3
2019 Q2	$1.58B	Hold	17,126,874	–	–	7.99%	3
2019 Q1	$1.53B	Hold	17,126,874	–	–	7.34%	3
2018 Q4	$1.27B	Hold	17,126,874	–	–	5.79%	5
2018 Q3	$1.54B	Hold	17,126,874	–	–	5.96%	5
2018 Q2	$1.4B	Hold	17,126,874	–	–	6.33%	5
2018 Q1	$1.25B	Hold	17,126,874	–	–	5.12%	5
2017 Q4	$1.41B	Hold	17,126,874	–	–	5.34%	5
2017 Q3	$1.42B	Hold	17,126,874	–	–	5.51%	4
2017 Q2	$1.39B	Hold	17,126,874	–	–	6.01%	3
2017 Q1	$1.27B	Hold	17,126,874	–	–	6.71%	3
2016 Q4	$1.15B	Hold	17,126,874	–	–	6.07%	3
2016 Q3	$1.12B	Hold	17,126,874	–	–	6.07%	3
2016 Q2	$1.01B	Hold	17,126,874	–	–	6.01%	3
2016 Q1	$1.07B	Hold	17,126,874	–	–	6.22%	3
2015 Q4	$957M	Hold	17,126,874	–	–	5.74%	3
2015 Q3	$972M	Hold	17,126,874	–	–	5.64%	2
2015 Q2	$989M	Hold	17,126,874	–	–	5.81%	2
2015 Q1	$1.15B	Hold	17,126,874	–	–	6.15%	2
2014 Q4	$1.18B	Hold	17,126,874	–	–	5.9%	2
2014 Q3	$1.22B	Hold	17,126,874	–	–	5.6%	2
2014 Q2	$1.11B	Hold	17,126,874	–	–	5.58%	4
2014 Q1	$963M	Hold	17,126,874	–	–	4.86%	5
2013 Q4	$977M	Hold	17,126,874	–	–	4.87%	5
2013 Q3	$868M	Hold	17,126,874	–	–	4.46%	5
2013 Q2	$833M	Buy	+17,126,874	New	+$845M	4.68%	6

Other funds holding CNI

Royal Bank of Canada Toronto, Ontario, Canada $570B AUM 27.57% 1-Year Est. Return

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

1832 Asset Management Toronto, Ontario, Canada $109B AUM 35.56% 1-Year Est. Return

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

VCM

Vanguard Capital Management Malvern, Pennsylvania $4.04T AUM

Bank of Montreal Toronto, Ontario, Canada $269B AUM 31.4% 1-Year Est. Return

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

Wellington Management Group Boston, Massachusetts $535B AUM 26.23% 1-Year Est. Return

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

TCI Fund Management London, United Kingdom $45.2B AUM 12.74% 1-Year Est. Return

Gates Foundation Trust's CNI Position: Q1 2026 in Review

Gates Foundation Trust held its Canadian National Railway (CNI) position steady in Q1 2026 at 51,826,786 shares worth $5.33B. The position accounts for 16.82% of the portfolio, ranked #3.

Gates Foundation Trust first reported a position in CNI in Q2 2013 and has held it in 52 quarters since. The position peaked at $7.22B in Q1 2024. 824 funds tracked by Wall St. Rank hold CNI as of Q1 2026.

Gates Foundation Trust held 51,826,786 shares of Canadian National Railway worth $5.33B as of Q1 2026.
Gates Foundation Trust left its Canadian National Railway share count unchanged in Q1 2026.
Canadian National Railway made up 16.82% of Gates Foundation Trust's portfolio in Q1 2026, its #3 holding.
Gates Foundation Trust first reported a position in Canadian National Railway in Q2 2013 and has held it in 52 quarters since.
Gates Foundation Trust's Canadian National Railway position peaked at $7.22B in Q1 2024.
824 funds tracked by Wall St. Rank held Canadian National Railway as of Q1 2026.

Based on Gates Foundation Trust's 13F filing for Q1 2026, filed 15 May 2026.