CNI
Canadian National Railway Company · Industrials · Railroads
Momentum inputs (comparable managers):
holder breadth -8.0% ·
share flow -10.4% ·
net new positions -13.0%
· formula
Broad distribution: falling shares and fewer holders
All ownership figures: tracked 13F managers only, common-stock positions, reporting period Q3 2025
| Quarter | Holders | Δ | Shares | Reported value | New | Exits |
|---|---|---|---|---|---|---|
| Q3 2026 | 4 | +1 | 4.58M | $536.74M | +1 | −1 |
| Q2 2026 | 138 | 0 | 330.76M | $40.53B | +5 | −7 |
| Q1 2026 | 142 | 0 | 332.35M | $34.83B | +6 | −7 |
| Q4 2025 | 142 | +4 | 350.13M | $34.64B | +6 | −1 |
| Q3 2025 | 23 | -2 | 143.47M | $13.54B | +1 | −4 |
| Q2 2025 | 23 | +2 | 154.22M | $16.06B | +2 | n/a |
| Q1 2025 | 18 | 0 | 123.25M | $12.01B | +1 | −1 |
| Q4 2024 | 18 | 0 | 126.42M | $12.84B | +1 | −1 |
| Q3 2024 | 17 | +1 | 128.35M | $15.04B | +1 | n/a |
| Q2 2024 | 16 | n/a | 127.57M | $15.07B | n/a | n/a |
| # | Manager | Shares | Δ shares | Value | Their weight | Held | ||
|---|---|---|---|---|---|---|---|---|
| 1 | Gates Foundation Trust ✦ | 51.83M | -5.5% | $4.89B | 13.4% | ▼ Trim | 6 | SEC ↗ |
| 2 | The Vanguard Group ✦ (passive) | 24.30M | +1.6% | $2.29B | 0.0% | ▲ Add | 2 | SEC ↗ ×6 |
| 3 | TCI Fund Management ✦ | 18.77M | -18.4% | $1.77B | 3.4% | ▼ Trim | 6 | SEC ↗ |
| 4 | Wellington Management ✦ | 11.68M | -48.1% | $1.10B | 0.2% | ▼ Trim | 6 | SEC ↗ ×5 |
| 5 | T. Rowe Price ✦ | 7.94M | +28.8% | $749.03M | 0.1% | ▲ Add | 6 | SEC ↗ ×2 |
| 6 | Arrowstreet Capital ✦ | 5.99M | -4.8% | $564.97M | 0.4% | ▼ Trim | 6 | SEC ↗ |
| 7 | JPMorgan Chase ✦ | 5.59M | n/a | $527.22M | 0.0% | n/c | 1 | SEC ↗ ×28 |
| 8 | Geode Capital Management ✦ (passive) | 4.91M | +12.5% | $469.04M | 0.0% | ▲ Add | 6 | SEC ↗ ×2 |
| 9 | Goldman Sachs Group ✦ | 3.50M | n/a | $330.03M | 0.0% | n/c | 1 | SEC ↗ ×5 |
| 10 | Morgan Stanley ✦ | 2.41M | n/a | $227.06M | 0.0% | n/c | 1 | SEC ↗ ×13 |
| 11 | Fisher Asset Management ✦ | 2.06M | +13.1% | $194.52M | 0.1% | ▲ Add | 2 | SEC ↗ |
| 12 | Fidelity (FMR) ✦ | 2.02M | +15.0% | $190.77M | 0.0% | ▲ Add | 2 | SEC ↗ ×4 |
| 13 | Two Sigma Investments ✦ | 1.25M | +9.8% | $117.68M | 0.2% | ▲ Add | 6 | SEC ↗ |
| 14 | BlackRock ✦ (passive) | 382.74K | -23.0% | $36.09M | 0.0% | ▼ Trim | 2 | SEC ↗ ×6 |
| 15 | Renaissance Technologies ✦ | 250.40K | -55.8% | $23.61M | 0.0% | ▼ Trim | 6 | SEC ↗ |
| 16 | Bridgewater Associates ✦ | 203.22K | +14.0% | $19.17M | 0.1% | ▲ Add | 6 | SEC ↗ |
| 17 | State Street Global Advisors ✦ (passive) | 168.47K | -15.2% | $15.89M | 0.0% | ▼ Trim | 4 | SEC ↗ |
| 18 | Citadel Advisors ✦ | 85.70K | +2113.9% | $8.08M | 0.0% | ▲ Add | 6 | SEC ↗ |
| 19 | D. E. Shaw & Co. ✦ | 39.97K | -77.3% | $3.77M | 0.0% | ▼ Trim | 6 | SEC ↗ ×2 |
| 20 | Capital World Investors ✦ | 26.81K | +21.4% | $2.53M | 0.0% | ▲ Add | 6 | SEC ↗ |
| 21 | Markel Group ✦ | 25.00K | New | $2.36M | 0.0% | New | 1 | SEC ↗ |
| 22 | Gotham Asset Management ✦ | 23.97K | +116.4% | $2.26M | 0.0% | ▲ Add | 2 | SEC ↗ |
| 23 | AQR Capital Management ✦ | 19.19K | +81.9% | $1.81M | 0.0% | ▲ Add | 3 | SEC ↗ ×3 |
“Their weight” = the position's share of that manager's reported 13F equity value: the conviction measure. ✦ = curated manager.
New buyers
| Markel Group | $2.36M | 0.0% |
Exited
| Norges Bank | $591.90M | was 0.1% |
| Marshall Wace | $39.98M | was 0.0% |
| Millennium Management | $39.01M | was 0.0% |
| Point72 Asset Management | $32.83M | was 0.1% |
Full-market context: across ALL 13F filers (SEC structured data, Q1 2026): 819 holders, 397.55M shares, $40.35B reported. This is a different, older period than the tracked-universe figures above and the two are never mixed.
What else this security's tracked holders most often hold: shared-ownership counts, not fundamental relationships.