Canadian National Railway
823 hedge funds and large institutions have $41.8B invested in Canadian National Railway in 2025 Q1 according to their latest regulatory filings, with 70 funds opening new positions, 261 increasing their positions, 318 reducing their positions, and 94 closing their positions.
20% more funds holding in top 10
Funds holding in top 10: 20 → 24 (+4)
16% more call options, than puts
Call options by funds: $109M | Put options by funds: $93.9M
0.81% more ownership
Funds ownership: 67.49% → 68.3% (+0.81%)
3% less capital invested
Capital invested by funds: $43.1B → $41.8B (-$1.33B)
4% less funds holding
Funds holding: 856 → 823 (-33)
18% less repeat investments, than reductions
Existing positions increased: 261 | Existing positions reduced: 318
26% less first-time investments, than exits
New positions opened: 70 | Existing positions closed: 94
Top Buyers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
Manulife (Manufacturers Life Insurance)
Canada,
Ontario, Canada
|
+$146M |
| 2 |
TAM
Troy Asset Management
London,
United Kingdom
|
+$123M |
| 3 |
CIBC World Market
Toronto,
Ontario, Canada
|
+$123M |
| 4 |
T. Rowe Price Associates
Baltimore,
Maryland
|
+$116M |
| 5 |
QC
Quadrature Capital
London,
United Kingdom
|
+$116M |
Top Sellers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
TCI Fund Management
London,
United Kingdom
|
-$283M |
| 2 |
Wellington Management Group
Boston,
Massachusetts
|
-$136M |
| 3 |
Royal London Asset Management
United Kingdom
|
-$83.1M |
| 4 |
Royal Bank of Canada
Toronto,
Ontario, Canada
|
-$81.6M |
| 5 |
Bank of Montreal
Toronto,
Ontario, Canada
|
-$76.9M |
CNI Hedge Fund Activity: Q1 2025 in Review
823 of the 7,471 institutional investors tracked by Wall St. Rank reported a position in Canadian National Railway (CNI) for Q1 2025, worth a combined $41.8B — down 3.1% from $43.1B a quarter earlier.
Sellers outnumbered buyers: 94 funds closed out of CNI and 70 opened new positions — a net loss of 24 holders — while 318 trimmed existing stakes and 261 added.
The largest buyer was Manulife (Manufacturers Life Insurance), adding an estimated $146M. The largest seller was TCI Fund Management, cutting an estimated $283M.
- 823 institutional investors held Canadian National Railway (CNI) as of Q1 2025, down from 856 in Q4 2024.
- Funds reported $41.8B of Canadian National Railway stock for Q1 2025, down 3.1% quarter-over-quarter.
- 70 funds opened new Canadian National Railway positions in Q1 2025 and 94 closed out, a net change of -24 holders.
- The largest Canadian National Railway buyer in Q1 2025 was Manulife (Manufacturers Life Insurance), an estimated $146M added.
- The largest Canadian National Railway seller in Q1 2025 was TCI Fund Management, an estimated $283M sold.
Based on aggregated 13F filings for Q1 2025.