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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
Gates Foundation Trust
1
Gates Foundation Trust
Washington
$6.18B
Royal Bank of Canada
2
Royal Bank of Canada
Ontario, Canada
$3.72B +$415M +3,646,856 +13%
Fidelity International
3
Fidelity International
Bermuda
$2.28B +$261M +2,288,097 +14%
Caisse de Depot et Placement du Quebec (CDPQ)
4
Caisse de Depot et Placement du Quebec (CDPQ)
Quebec, Canada
$2.26B +$20.3M +178,385 +0.9%
1832 Asset Management
5
1832 Asset Management
Ontario, Canada
$1.97B -$247M -2,164,896 -12%
Vanguard Capital Management
6
Vanguard Capital Management
Pennsylvania
$1.9B +$13.7M +120,099 +0.8%
Bank of Montreal
7
Bank of Montreal
Ontario, Canada
$1.77B +$96.3M +845,548 +6%
Mackenzie Financial
8
Mackenzie Financial
Ontario, Canada
$1.51B +$18.6M +163,017 +2%
TD Asset Management
9
TD Asset Management
Ontario, Canada
$1.18B -$253M -2,223,622 -18%
TCI Fund Management
10
TCI Fund Management
United Kingdom
$1.12B -$47.4M -416,512 -4%
Wellington Management Group
11
Wellington Management Group
Massachusetts
$1.02B -$340M -2,985,994 -26%
CIBC Asset Management
12
CIBC Asset Management
Ontario, Canada
$820M +$364M +3,193,207 +87%
National Bank of Canada
13
National Bank of Canada
Quebec, Canada
$805M +$8.67M +76,139 +1%
Massachusetts Financial Services
14
Massachusetts Financial Services
Massachusetts
$784M -$266M -2,333,392 -62%
Deutsche Bank
15
Deutsche Bank
Germany
$723M -$130M -1,142,973 -16%
T. Rowe Price Associates
16
T. Rowe Price Associates
Maryland
$722M -$48.3M -424,251 -7%
ClearBridge Investments
17
ClearBridge Investments
New York
$711M +$81M +711,429 +14%
Geode Capital Management
18
Geode Capital Management
Massachusetts
$707M +$69.2M +607,775 +12%
Norges Bank
19
Norges Bank
Norway
$679M +$648M +5,695,165 New
Connor, Clark & Lunn Investment Management (CC&L)
20
Connor, Clark & Lunn Investment Management (CC&L)
British Columbia, Canada
$676M +$125M +1,099,056 +24%
HL
21
Harding Loevner
New Jersey
$648M +$290M +2,549,371 +90%
Fiera Capital (Canada)
22
Fiera Capital (Canada)
Quebec, Canada
$644M -$89.3M -784,633 -13%
Manulife (Manufacturers Life Insurance)
23
Manulife (Manufacturers Life Insurance)
Ontario, Canada
$632M +$102M +899,494 +20%
Arrowstreet Capital
24
Arrowstreet Capital
Massachusetts
$614M +$48.3M +424,278 +9%
CIBC World Market
25
CIBC World Market
Ontario, Canada
$602M -$8.38M -73,565 -1%

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.