National Bank of Canada
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National Bank of Canada’s Canadian National Railway CNI Stock Holding History

National Bank of Canada’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 		$686M Sell
6,685,129
-25,090
-0.4% -$2.59M 0.62% 31
2025
Q4 		$663M Sell
6,710,219
-201,802
-3% -$19.4M 0.6% 31
2025
Q3 		$651M Sell
6,912,021
-542,494
-7% -$52.3M 0.65% 26
2025
Q2 		$775M Sell
7,454,515
-125,109
-2% -$12.7M 0.74% 26
2025
Q1 		$736M Sell
7,579,624
-178,373
-2% -$18M 0.77% 24
2024
Q4 		$788M Buy
7,757,997
+1,020,675
+15% +$112M 0.83% 21
2024
Q3 		$789M Buy
6,737,322
+2,146,948
+47% +$250M 0.9% 17
2024
Q2 		$537M Sell
4,590,374
-707,583
-13% -$88.6M 0.73% 26
2024
Q1 		$674M Sell
5,297,957
-1,087,484
-17% -$139M 1.03% 15
2023
Q4 		$801M Buy
6,385,441
+311,961
+5% +$35.3M 1.28% 11
2023
Q3 		$646M Buy
6,073,480
+15,014
+0.2% +$1.72M 0.98% 15
2023
Q2 		$733M Buy
6,058,466
+229,938
+4% +$27.3M 1.34% 10
2023
Q1 		$687M Sell
5,828,528
-149,226
-2% -$17.6M 1.69% 9
2022
Q4 		$710M Buy
5,977,754
+3,846,281
+180% +$460M 1.81% 6
2022
Q3 		$230M Buy
2,131,473
+24,307
+1% +$2.9M 1.24% 10
2022
Q2 		$236M Buy
2,107,166
+10,058
+0.5% +$1.18M 1.08% 7
2022
Q1 		$280M Buy
2,097,108
+583,753
+39% +$73M 0.83% 22
2021
Q4 		$185M Buy
+1,513,355
New +$192M 0.63% 29

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 $570B AUM 27.57% 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
1832 Asset Management
1832 Asset Management Toronto, Ontario, Canada $109B AUM 35.56% 1-Year Est. Return
Fidelity International
Fidelity International Hamilton, Bermuda $129B AUM 30.83% 1-Year Est. Return
VCM
Vanguard Capital Management Malvern, Pennsylvania $4.04T AUM
Bank of Montreal
Bank of Montreal Toronto, Ontario, Canada $269B AUM 31.4% 1-Year Est. Return
TD Asset Management
TD Asset Management Toronto, Ontario, Canada $115B AUM 41.58% 1-Year Est. Return
Wellington Management Group
Wellington Management Group Boston, Massachusetts $535B AUM 26.23% 1-Year Est. Return
Massachusetts Financial Services
Massachusetts Financial Services Boston, Massachusetts $315B AUM 27.84% 1-Year Est. Return

National Bank of Canada's CNI Position: Q1 2026 in Review

National Bank of Canada reduced its Canadian National Railway (CNI) stake by 0.37% in Q1 2026, selling an estimated $2.59M and leaving 6,685,129 shares worth $686M. The position accounts for 0.62% of the portfolio, ranked #31.

National Bank of Canada first reported a position in CNI in Q4 2021 and has held it in 18 quarters since. The position peaked at $801M in Q4 2023. 825 funds tracked by Wall St. Rank hold CNI as of Q1 2026.

  • National Bank of Canada held 6,685,129 shares of Canadian National Railway worth $686M as of Q1 2026.
  • National Bank of Canada sold 25,090 Canadian National Railway shares in Q1 2026, an estimated $2.59M.
  • Canadian National Railway made up 0.62% of National Bank of Canada's portfolio in Q1 2026, its #31 holding.
  • National Bank of Canada first reported a position in Canadian National Railway in Q4 2021 and has held it in 18 quarters since.
  • National Bank of Canada's Canadian National Railway position peaked at $801M in Q4 2023.
  • 825 funds tracked by Wall St. Rank held Canadian National Railway as of Q1 2026.

Based on National Bank of Canada's 13F filing for Q1 2026, filed 15 May 2026.