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Canadian National Railway

822 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, 262 increasing their positions, 317 reducing their positions, and 94 closing their positions.

New
Increased
Maintained
Reduced
Closed

20% more funds holding in top 10

Funds holding in top 10: 2024 (+4)

16% more call options, than puts

Call options by funds: $109M | Put options by funds: $93.9M

0.81% more ownership

Funds ownership: 67.5%68.3% (+0.81%)

4% less capital invested

Capital invested by funds: $43.6B → $41.8B (-$1.77B)

4% less funds holding

Funds holding: 856822 (-34)

17% less repeat investments, than reductions

Existing positions increased: 262 | Existing positions reduced: 317

26% less first-time investments, than exits

New positions opened: 70 | Existing positions closed: 94

Holders
822
Holders Change
-34
Holders Change %
-3.97%
% of All Funds
11.02%
Holding in Top 10
24
Holding in Top 10 Change
+4
Holding in Top 10 Change %
+20%
% of All Funds
0.32%
New
70
Increased
262
Reduced
317
Closed
94
Calls
$109M
Puts
$93.9M
Net Calls
+$15.5M
Net Calls Change
-$35.4M
Name Holding Trade Value Shares
Change
Change in
Stake
Gates Foundation Trust
1
Gates Foundation Trust
Washington
$5.34B
Royal Bank of Canada
2
Royal Bank of Canada
Ontario, Canada
$2.63B -$81.6M -807,121 -3%
TCI Fund Management
3
TCI Fund Management
United Kingdom
$2.62B -$283M -2,794,686 -9%
Vanguard Group
4
Vanguard Group
Pennsylvania
$2.25B +$18.1M +179,261 +0.8%
Wellington Management Group
5
Wellington Management Group
Massachusetts
$1.57B -$136M -1,340,861 -8%
Bank of Montreal
6
Bank of Montreal
Ontario, Canada
$1.42B -$76.9M -760,462 -5%
Caisse de Depot et Placement du Quebec (CDPQ)
7
Caisse de Depot et Placement du Quebec (CDPQ)
Quebec, Canada
$1.22B
Massachusetts Financial Services
8
Massachusetts Financial Services
Massachusetts
$1.18B +$2.45M +24,202 +0.2%
Bank of New York Mellon
9
Bank of New York Mellon
New York
$1.18B -$38.4M -379,542 -3%
TD Asset Management
10
TD Asset Management
Ontario, Canada
$1.15B +$3.04M +30,066 +0.3%
Capital International Investors
11
Capital International Investors
California
$1.12B -$26.9M -266,520 -2%
1832 Asset Management
12
1832 Asset Management
Ontario, Canada
$1.1B +$64.3M +636,147 +6%
JFL
13
Jarislowsky, Fraser Ltd
Quebec, Canada
$897M +$5.8M +57,384 +0.6%
Mackenzie Financial
14
Mackenzie Financial
Ontario, Canada
$834M +$51.1M +505,588 +6%
National Bank of Canada
15
National Bank of Canada
Quebec, Canada
$736M -$18M -178,373 -2%
T. Rowe Price Associates
16
T. Rowe Price Associates
Maryland
$647M +$116M +1,148,569 +21%
CIBC World Market
17
CIBC World Market
Ontario, Canada
$638M +$123M +1,215,571 +23%
Deutsche Bank
18
Deutsche Bank
Germany
$600M +$46M +454,439 +8%
Norges Bank
19
Norges Bank
Norway
$540M -$266K -2,626 -0%
Fiera Capital (Canada)
20
Fiera Capital (Canada)
Quebec, Canada
$533M -$15.7M -154,912 -3%
Manulife (Manufacturers Life Insurance)
21
Manulife (Manufacturers Life Insurance)
Ontario, Canada
$518M +$146M +1,439,617 +37%
Arrowstreet Capital
22
Arrowstreet Capital
Massachusetts
$511M +$43.5M +430,382 +9%
CIBC Asset Management
23
CIBC Asset Management
Ontario, Canada
$483M -$17.4M -172,249 -3%
Legal & General Group
24
Legal & General Group
United Kingdom
$419M -$22.1M -218,619 -5%
BGC
25
Beutel, Goodman & Co
Ontario, Canada
$415M +$14.8M +146,207 +4%