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Canadian National Railway

842 hedge funds and large institutions have $49.4B invested in Canadian National Railway in 2026 Q2 according to their latest regulatory filings, with 88 funds opening new positions, 301 increasing their positions, 259 reducing their positions, and 60 closing their positions.

New
Increased
Maintained
Reduced
Closed

231% more call options, than puts

Call options by funds: $189M | Put options by funds: $57M

47% more first-time investments, than exits

New positions opened: 88 | Existing positions closed: 60

30% more funds holding in top 10

Funds holding in top 10: 2330 (+7)

18% more capital invested

Capital invested by funds: $42B → $49.4B (+$7.39B)

16% more repeat investments, than reductions

Existing positions increased: 301 | Existing positions reduced: 259

2% more funds holding

Funds holding: 829842 (+13)

0.98% more ownership

Funds ownership: 65.63%66.61% (+0.98%)

Holders
842
Holders Change
+13
Holders Change %
+1.57%
% of All Funds
10.17%
Holding in Top 10
30
Holding in Top 10 Change
+7
Holding in Top 10 Change %
+30.43%
% of All Funds
0.36%
New
88
Increased
301
Reduced
259
Closed
60
Calls
$189M
Puts
$57M
Net Calls
+$132M
Net Calls Change
+$98.2M
Name Holding Trade Value Shares
Change
Change in
Stake
Vanguard Fiduciary Trust
26
Vanguard Fiduciary Trust
Pennsylvania
$575M +$2.4M +21,121 +0.4%
Canada Pension Plan Investment Board
27
Canada Pension Plan Investment Board
Ontario, Canada
$532M -$3.12M -27,384 -0.6%
TWC
28
TD Waterhouse Canada
Ontario, Canada
$515M +$13.3M +116,530 +3%
Legal & General Group
29
Legal & General Group
United Kingdom
$476M -$26.1M -228,812 -5%
Lazard Asset Management
30
Lazard Asset Management
New York
$466M -$588M -5,165,999 -57%
FDCDDQ
31
Federation des caisses Desjardins du Quebec
Quebec, Canada
$463M +$6.38M +55,992 +1%
SC
32
Scotia Capital
Ontario, Canada
$453M -$13.9M -122,362 -3%
Morgan Stanley
33
Morgan Stanley
New York
$438M +$115M +1,009,731 +38%
CF
34
Canoe Financial
Alberta, Canada
$406M -$2.14M -18,776 -0.5%
Goldman Sachs
35
Goldman Sachs
New York
$373M +$48.9M +429,613 +16%
TAM
36
Troy Asset Management
United Kingdom
$322M -$7.37M -64,716 -2%
JP Morgan Chase
37
JP Morgan Chase
New York
$315M -$36M -315,996 -11%
Vanguard Global Advisers
38
Vanguard Global Advisers
Pennsylvania
$278M +$15.1M +132,382 +6%
BGC
39
Beutel, Goodman & Co
Ontario, Canada
$251M -$35.4M -310,554 -13%
Toronto Dominion Bank
40
Toronto Dominion Bank
Ontario, Canada
$247M +$12.2M +107,407 +5%
PAM
41
PineStone Asset Management
Quebec, Canada
$243M +$232M +2,034,355 New
Fidelity Investments
42
Fidelity Investments
Massachusetts
$218M -$7.77M -68,240 -4%
FPP
43
Findlay Park Partners
United Kingdom
$218M -$7.05M -61,900 -3%
Charles Schwab
44
Charles Schwab
California
$205M +$11.1M +97,612 +6%
Mitsubishi UFJ Trust & Banking
45
Mitsubishi UFJ Trust & Banking
Japan
$205M +$35M +307,031 +22%
Swiss National Bank
46
Swiss National Bank
Switzerland
$199M -$10.1M -88,600 -5%
Dimensional Fund Advisors
47
Dimensional Fund Advisors
Texas
$172M +$6.64M +58,287 +4%
AQR Capital Management
48
AQR Capital Management
Connecticut
$168M +$31.3M +274,553 +24%
Two Sigma Investments
49
Two Sigma Investments
New York
$167M +$111M +974,828 +230%
Stifel Financial
50
Stifel Financial
Missouri
$162M -$3.54M -31,050 -2%

CNI Hedge Fund Activity: Q2 2026 in Review

842 of the 8,279 institutional investors tracked by Wall St. Rank reported a position in Canadian National Railway (CNI) for Q2 2026, worth a combined $49.4B — up 18% from $42B a quarter earlier.

Buyers outnumbered sellers: 88 funds opened new CNI positions and 60 closed out — a net gain of 28 holders — while 301 added to existing stakes and 259 trimmed.

The largest buyer was Royal Bank of Canada, adding an estimated $415M. The largest seller was Lazard Asset Management, cutting an estimated $588M.

  • 842 institutional investors held Canadian National Railway (CNI) as of Q2 2026, up from 829 in Q1 2026.
  • Funds reported $49.4B of Canadian National Railway stock for Q2 2026, up 18% quarter-over-quarter.
  • 88 funds opened new Canadian National Railway positions in Q2 2026 and 60 closed out, a net change of +28 holders.
  • The largest Canadian National Railway buyer in Q2 2026 was Royal Bank of Canada, an estimated $415M added.
  • The largest Canadian National Railway seller in Q2 2026 was Lazard Asset Management, an estimated $588M sold.

Based on aggregated 13F filings for Q2 2026.