Canadian National Railway
809 hedge funds and large institutions have $40.8B invested in Canadian National Railway in 2025 Q4 according to their latest regulatory filings, with 116 funds opening new positions, 253 increasing their positions, 278 reducing their positions, and 49 closing their positions.
137% more first-time investments, than exits
New positions opened: 116 | Existing positions closed: 49
82% more call options, than puts
Call options by funds: $109M | Put options by funds: $60.1M
11% more funds holding in top 10
Funds holding in top 10: 18 → 20 (+2)
7% more funds holding
Funds holding: 758 → 809 (+51)
5% more capital invested
Capital invested by funds: $38.9B → $40.8B (+$1.95B)
0.5% more ownership
Funds ownership: 66.3% → 66.8% (+0.5%)
9% less repeat investments, than reductions
Existing positions increased: 253 | Existing positions reduced: 278
Top Buyers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
1832 Asset Management
Toronto,
Ontario, Canada
|
+$894M |
| 2 |
Fidelity International
Hamilton,
Bermuda
|
+$501M |
| 3 |
AQR Capital Management
Greenwich,
Connecticut
|
+$117M |
| 4 |
Deutsche Bank
Frankfurt Am Main Ge,
Germany
|
+$114M |
| 5 |
Balyasny Asset Management
Chicago,
Illinois
|
+$108M |
Top Sellers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
TCI Fund Management
London,
United Kingdom
|
-$857M |
| 2 |
Bank of New York Mellon
New York
|
-$455M |
| 3 |
Wellington Management Group
Boston,
Massachusetts
|
-$227M |
| 4 |
BGC
Beutel, Goodman & Co
Toronto,
Ontario, Canada
|
-$117M |
| 5 |
Massachusetts Financial Services
Boston,
Massachusetts
|
-$103M |
CNI Hedge Fund Activity: Q4 2025 in Review
809 of the 8,284 institutional investors tracked by Wall St. Rank reported a position in Canadian National Railway (CNI) for Q4 2025, worth a combined $40.8B — up 5% from $38.9B a quarter earlier.
Buyers outnumbered sellers: 116 funds opened new CNI positions and 49 closed out — a net gain of 67 holders — while 253 added to existing stakes and 278 trimmed.
The largest buyer was 1832 Asset Management, adding an estimated $894M. The largest seller was TCI Fund Management, cutting an estimated $857M.
- 809 institutional investors held Canadian National Railway (CNI) as of Q4 2025, up from 758 in Q3 2025.
- Funds reported $40.8B of Canadian National Railway stock for Q4 2025, up 5% quarter-over-quarter.
- 116 funds opened new Canadian National Railway positions in Q4 2025 and 49 closed out, a net change of +67 holders.
- The largest Canadian National Railway buyer in Q4 2025 was 1832 Asset Management, an estimated $894M added.
- The largest Canadian National Railway seller in Q4 2025 was TCI Fund Management, an estimated $857M sold.
Based on aggregated 13F filings for Q4 2025.