We are live on ! Find out more
TFII icon

TFI International

234 hedge funds and large institutions have $5.89B invested in TFI International in 2025 Q4 according to their latest regulatory filings, with 34 funds opening new positions, 79 increasing their positions, 87 reducing their positions, and 33 closing their positions.

New
Increased
Maintained
Reduced
Closed

146% more call options, than puts

Call options by funds: $36.8M | Put options by funds: $14.9M

25% more capital invested

Capital invested by funds: $4.72B → $5.89B (+$1.17B)

4.35% more ownership

Funds ownership: 64.97%69.32% (+4.3%)

3% more first-time investments, than exits

New positions opened: 34 | Existing positions closed: 33

1% less funds holding

Funds holding: 236234 (-2)

9% less repeat investments, than reductions

Existing positions increased: 79 | Existing positions reduced: 87

40% less funds holding in top 10

Funds holding in top 10: 53 (-2)

Holders
234
Holders Change
-2
Holders Change %
-0.85%
% of All Funds
2.85%
Holding in Top 10
3
Holding in Top 10 Change
-2
Holding in Top 10 Change %
-40%
% of All Funds
0.04%
New
34
Increased
79
Reduced
87
Closed
33
Calls
$36.8M
Puts
$14.9M
Net Calls
+$21.8M
Net Calls Change
+$14.9M
Name Holding Trade Value Shares
Change
Change in
Stake
Caisse de Depot et Placement du Quebec (CDPQ)
1
Caisse de Depot et Placement du Quebec (CDPQ)
Quebec, Canada
$733M +$131M +1,402,273 +25%
Fidelity International
2
Fidelity International
Bermuda
$624M -$632K -6,795 -0.1%
1832 Asset Management
3
1832 Asset Management
Ontario, Canada
$477M +$330M +3,548,947 +332%
Fidelity Investments
4
Fidelity Investments
Massachusetts
$409M +$139M +1,498,510 +61%
Janus Henderson Group
5
Janus Henderson Group
United Kingdom
$391M +$849K +9,121 +0.2%
Vanguard Group
6
Vanguard Group
Pennsylvania
$354M +$4.71M +50,656 +2%
FDCDDQ
7
Federation des caisses Desjardins du Quebec
Quebec, Canada
$224M +$303K +3,253 +0.2%
Royal Bank of Canada
8
Royal Bank of Canada
Ontario, Canada
$207M -$34M -365,623 -15%
National Bank of Canada
9
National Bank of Canada
Quebec, Canada
$159M +$4.98M +53,472 +4%
Manulife (Manufacturers Life Insurance)
10
Manulife (Manufacturers Life Insurance)
Ontario, Canada
$159M +$99.7M +1,071,017 +231%
TCAM
11
Turtle Creek Asset Management
Ontario, Canada
$142M -$41.5M -445,485 -24%
UBS Group
12
UBS Group
Switzerland
$130M +$114M +1,227,326 +3,566%
Baillie Gifford & Co
13
Baillie Gifford & Co
United Kingdom
$107M +$995K +10,693 +1%
Norges Bank
14
Norges Bank
Norway
$106M +$95.6M +1,026,741 New
Bank of Montreal
15
Bank of Montreal
Ontario, Canada
$98.1M +$5.84M +62,706 +7%
DMIC
16
Dixon Mitchell Investment Counsel
British Columbia, Canada
$94.2M -$590K -6,340 -0.7%
TD Asset Management
17
TD Asset Management
Ontario, Canada
$82.4M +$8.27M +88,875 +13%
CIBC World Market
18
CIBC World Market
Ontario, Canada
$78.6M +$2.88M +30,941 +4%
Geode Capital Management
19
Geode Capital Management
Massachusetts
$76.3M +$3.56M +38,200 +5%
Connor, Clark & Lunn Investment Management (CC&L)
20
Connor, Clark & Lunn Investment Management (CC&L)
British Columbia, Canada
$72.5M +$771K +8,282 +1%
AQR Capital Management
21
AQR Capital Management
Connecticut
$70.2M +$63.2M +678,889 New
Legal & General Group
22
Legal & General Group
United Kingdom
$45.6M +$2.83M +30,460 +7%
BFS
23
Baskin Financial Services
Ontario, Canada
$44.2M +$24.5K +263 +0.1%
Canada Pension Plan Investment Board
24
Canada Pension Plan Investment Board
Ontario, Canada
$43.3M +$837K +8,990 +2%
QI
25
QV Investors
Alberta, Canada
$42.4M -$2.95M -31,742 -7%

TFII Hedge Fund Activity: Q4 2025 in Review

234 of the 8,223 institutional investors tracked by Wall St. Rank reported a position in TFI International (TFII) for Q4 2025, worth a combined $5.89B — up 25% from $4.72B a quarter earlier.

Buyers outnumbered sellers: 34 funds opened new TFII positions and 33 closed out — a net gain of 1 holder — while 79 added to existing stakes and 87 trimmed.

The largest buyer was 1832 Asset Management, adding an estimated $330M. The largest seller was Maple Rock Capital Partners, exiting entirely with an estimated $96.7M sold.

  • 234 institutional investors held TFI International (TFII) as of Q4 2025, down from 236 in Q3 2025.
  • Funds reported $5.89B of TFI International stock for Q4 2025, up 25% quarter-over-quarter.
  • 34 funds opened new TFI International positions in Q4 2025 and 33 closed out, a net change of +1 holder.
  • The largest TFI International buyer in Q4 2025 was 1832 Asset Management, an estimated $330M added.
  • The largest TFI International seller in Q4 2025 was Maple Rock Capital Partners, an estimated $96.7M sold.

Based on aggregated 13F filings for Q4 2025.