Who owns CNI
Which tracked institutional funds hold CNI, how they are positioned, and who is buying versus exiting — from SEC Form 13F-HR filings. See CNI company fundamentals →
Ownership as of the 2026-Q2 13F filings (latest filed 2026-08-14). 13F is disclosed up to 45 days after quarter-end, so the most recent quarter fills in over the following weeks.
How the tape is positioned
311 tracked funds added or opened CNI while 114 trimmed or exited it between 2026-Q1 and 2026-Q2 — the tape is split. When large holders disagree on a name, the funds moving first are sometimes ahead of the story.
A prompt to read the filings, not a verdict. 13F is a quarter-end snapshot disclosed up to 45 days late; a fund adds or exits for mandate, benchmark, and timing reasons that have nothing to do with a view on the stock. This is a starting question, not a signal to trade.
Conviction spread
CNI’s largest tracked holder by dollar value, GATES FOUNDATION TRUST, sizes it at 18.0% of its own reported 13F book, while the median holder sizes it at 0.3% of theirs — a 17.7pp conviction gap — its largest holder concentrates the name more heavily than the typical one.
Book-share is each fund’s reported value in CNI divided by its whole reported 13F book, so it is comparable across funds of different sizes and is unaffected by stock splits. A higher share means a fund has committed more of its book to the name — a starting question about conviction, not a verdict or a signal to trade.
Institutional & insider positioning
Between 2026-Q1 and 2026-Q2, across 797 tracked filers holding CNI, 372 increased or opened the position and 359 reduced or closed it; over the same quarter, there were no open-market insider Form 4s.
This fuses two public signals for the same quarter — how tracked institutions changed their positions and whether insiders bought or sold in the open market. It describes what was filed; it is a starting question, not a verdict or a signal to trade.
New buyers & exits
Funds opening or closing a position in CNI between the 2026-Q1 and 2026-Q2 13F filings, and the largest changes among funds holding it in both. New buyers and exits are counted on fund presence (split-invariant); adds and trims are measured on reported value.
New buyers 23
- PineStone Asset Management Inc.$243M
- Encompass Capital Advisors LLC$39M
- Daiwa Securities Group Inc.$28M
- Nykredit A/S$24M
- Haven Global Partners, LLC$22M
- SummitTX Capital, L.P.$10M
Full exits 65
- Beutel, Goodman & Co Ltd.$248M
- Amundi$105M
- QV Investors Inc.$63M
- DekaBank Deutsche Girozentrale$48M
- LINCLUDEN MANAGEMENT LTD$42M
- NATIXIS ADVISORS, LLC$27M
Largest adds
- ROYAL BANK OF CANADA$888M
- GATES FOUNDATION TRUST$854M
- MACKENZIE FINANCIAL CORP$610M
- FIL Ltd$549M
- CIBC Asset Management Inc$443M
- Harding Loevner LP$356M
Largest trims
- LAZARD ASSET MANAGEMENT LLC$468M
- MASSACHUSETTS FINANCIAL SERVICES CO /MA/$270M
- Fisher Asset Management, LLC$236M
- WELLINGTON MANAGEMENT GROUP LLP$164M
- CITADEL ADVISORS LLC$157M
- Capital International Investors$123M
Institutional holders
One row per tracked fund, most shares held first (every row is from one quarter; reported value breaks ties). “% of value” is the fund’s share of this security’s tracked institutional value — not of shares outstanding.
| Fund | Shares | Reported value | % of value | Quarter |
|---|---|---|---|---|
| GATES FOUNDATION TRUST | 51,826,786 | $6.2B | 13.3% | 2026-Q2 |
| ROYAL BANK OF CANADA added | 31,156,081 | $3.7B | 8.0% | 2026-Q2 |
| FIL Ltd added | 19,129,315 | $2.3B | 4.9% | 2026-Q2 |
| Caisse de depot et placement du Quebec added | 18,962,558 | $2.3B | 4.9% | 2026-Q2 |
| 1832 Asset Management L.P. trimmed | 16,518,344 | $2.0B | 4.3% | 2026-Q2 |
| VANGUARD CAPITAL MANAGEMENT LLC added | 15,918,701 | $1.9B | 4.1% | 2026-Q2 |
| BANK OF MONTREAL /CAN/ added | 14,841,305 | $1.8B | 3.8% | 2026-Q2 |
| TD Asset Management Inc trimmed | 9,907,691 | $1.2B | 2.6% | 2026-Q2 |
| TCI FUND MANAGEMENT LTD trimmed | 9,433,422 | $1.1B | 2.4% | 2026-Q2 |
| MACKENZIE FINANCIAL CORP added | 8,939,323 | $1.5B | 3.3% | 2026-Q2 |
| WELLINGTON MANAGEMENT GROUP LLP trimmed | 8,537,192 | $1.0B | 2.2% | 2026-Q2 |
| CIBC Asset Management Inc added | 6,861,848 | $820M | 1.8% | 2026-Q2 |
| NATIONAL BANK OF CANADA /FI/ added | 6,761,268 | $805M | 1.7% | 2026-Q2 |
| DEUTSCHE BANK AG\ trimmed | 6,062,146 | $723M | 1.6% | 2026-Q2 |
| PRICE T ROWE ASSOCIATES INC /MD/ trimmed | 6,052,322 | $722M | 1.6% | 2026-Q2 |
| Clearbridge Investments, LLC added | 5,964,425 | $711M | 1.5% | 2026-Q2 |
| GEODE CAPITAL MANAGEMENT, LLC added | 5,829,986 | $707M | 1.5% | 2026-Q2 |
| NORGES BANK added | 5,695,165 | $679M | 1.5% | 2026-Q2 |
| Connor, Clark & Lunn Investment Management Ltd. added | 5,674,241 | $676M | 1.5% | 2026-Q2 |
| Fiera Capital Corp trimmed | 5,406,877 | $644M | 1.4% | 2026-Q2 |
| Harding Loevner LP added | 5,390,831 | $648M | 1.4% | 2026-Q2 |
| MANUFACTURERS LIFE INSURANCE COMPANY, THE added | 5,303,746 | $632M | 1.4% | 2026-Q2 |
| ARROWSTREET CAPITAL, LIMITED PARTNERSHIP added | 5,152,780 | $614M | 1.3% | 2026-Q2 |
| CIBC WORLD MARKET INC. trimmed | 5,025,832 | $602M | 1.3% | 2026-Q2 |
| VANGUARD FIDUCIARY TRUST CO added | 4,816,343 | $575M | 1.2% | 2026-Q2 |
| CANADA PENSION PLAN INVESTMENT BOARD trimmed | 4,462,797 | $532M | 1.1% | 2026-Q2 |
| TD Waterhouse Canada Inc. added | 4,297,955 | $515M | 1.1% | 2026-Q2 |
| Legal & General Group Plc trimmed | 3,986,362 | $476M | 1.0% | 2026-Q2 |
| LAZARD ASSET MANAGEMENT LLC trimmed | 3,911,519 | $466M | 1.0% | 2026-Q2 |
| Federation des caisses Desjardins du Quebec added | 3,891,768 | $463M | 1.0% | 2026-Q2 |
| SCOTIA CAPITAL INC. trimmed | 3,802,550 | $453M | 1.0% | 2026-Q2 |
| MORGAN STANLEY added | 3,675,358 | $438M | 0.9% | 2026-Q2 |
| Canoe Financial LP trimmed | 3,407,690 | $406M | 0.9% | 2026-Q2 |
| GOLDMAN SACHS GROUP INC added | 3,129,271 | $373M | 0.8% | 2026-Q2 |
| JPMORGAN CHASE & CO trimmed | 2,621,159 | $315M | 0.7% | 2026-Q2 |
| Troy Asset Management Ltd trimmed | 2,564,246 | $322M | 0.7% | 2026-Q2 |
| Vanguard Global Advisers, LLC added | 2,325,865 | $278M | 0.6% | 2026-Q2 |
| TORONTO DOMINION BANK added | 2,069,940 | $247M | 0.5% | 2026-Q2 |
| PineStone Asset Management Inc. new | 2,034,355 | $243M | 0.5% | 2026-Q2 |
| Findlay Park Partners LLP trimmed | 1,826,068 | $218M | 0.5% | 2026-Q2 |
| FMR LLC trimmed | 1,824,799 | $218M | 0.5% | 2026-Q2 |
| Mitsubishi UFJ Trust & Banking Corp added | 1,718,819 | $205M | 0.4% | 2026-Q2 |
| CHARLES SCHWAB INVESTMENT MANAGEMENT INC added | 1,718,110 | $205M | 0.4% | 2026-Q2 |
| Swiss National Bank trimmed | 1,672,400 | $199M | 0.4% | 2026-Q2 |
| DIMENSIONAL FUND ADVISORS LP added | 1,440,786 | $172M | 0.4% | 2026-Q2 |
| MASSACHUSETTS FINANCIAL SERVICES CO /MA/ trimmed | 1,417,278 | $784M | 1.7% | 2026-Q2 |
| AQR CAPITAL MANAGEMENT LLC added | 1,406,399 | $168M | 0.4% | 2026-Q2 |
| TWO SIGMA INVESTMENTS, LP added | 1,398,413 | $167M | 0.4% | 2026-Q2 |
| STIFEL FINANCIAL CORP trimmed | 1,359,885 | $162M | 0.4% | 2026-Q2 |
| BANK OF NOVA SCOTIA trimmed | 1,335,451 | $159M | 0.3% | 2026-Q2 |
| BANK OF AMERICA CORP /DE/ trimmed | 1,269,855 | $151M | 0.3% | 2026-Q2 |
| Cardinal Capital Management, Inc. added | 1,254,252 | $149M | 0.3% | 2026-Q2 |
| LORING WOLCOTT & COOLIDGE FIDUCIARY ADVISORS LLP/MA trimmed | 1,251,453 | $149M | 0.3% | 2026-Q2 |
| Nuveen, LLC added | 1,236,343 | $147M | 0.3% | 2026-Q2 |
| VANGUARD ASSET MANAGEMENT, Ltd added | 1,156,300 | $138M | 0.3% | 2026-Q2 |
| LETKO, BROSSEAU & ASSOCIATES INC trimmed | 1,027,674 | $123M | 0.3% | 2026-Q2 |
| INTACT INVESTMENT MANAGEMENT INC. trimmed | 955,760 | $114M | 0.2% | 2026-Q2 |
| Douglass Winthrop Advisors, LLC trimmed | 936,884 | $112M | 0.2% | 2026-Q2 |
| Russell Investments Group, Ltd. added | 795,350 | $95M | 0.2% | 2026-Q2 |
| MUFG SECURITIES (CANADA), LTD. trimmed | 765,088 | $91M | 0.2% | 2026-Q2 |
| Alberta Investment Management Corp trimmed | 750,814 | $90M | 0.2% | 2026-Q2 |
| BALYASNY ASSET MANAGEMENT L.P. added | 745,247 | $89M | 0.2% | 2026-Q2 |
| Scheer, Rowlett & Associates Investment Management Ltd. trimmed | 727,812 | $87M | 0.2% | 2026-Q2 |
| BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp added | 716,203 | $85M | 0.2% | 2026-Q2 |
| FRANKLIN RESOURCES INC trimmed | 685,127 | $82M | 0.2% | 2026-Q2 |
| BLI - Banque de Luxembourg Investments trimmed | 683,667 | $82M | 0.2% | 2026-Q2 |
| HEALTHCARE OF ONTARIO PENSION PLAN TRUST FUND added | 651,600 | $78M | 0.2% | 2026-Q2 |
| NORTHERN TRUST CORP added | 628,393 | $75M | 0.2% | 2026-Q2 |
| Value Partners Investments Inc. added | 607,648 | $72M | 0.2% | 2026-Q2 |
| Public Sector Pension Investment Board added | 599,765 | $71M | 0.2% | 2026-Q2 |
| Bank of New York Mellon Corp added | 552,853 | $66M | 0.1% | 2026-Q2 |
| Addenda Capital Inc. added | 548,874 | $93M | 0.2% | 2026-Q2 |
| AGF MANAGEMENT LTD added | 540,109 | $88M | 0.2% | 2026-Q2 |
| State of Tennessee, Department of Treasury trimmed | 537,896 | $64M | 0.1% | 2026-Q2 |
| Vanguard Investments Australia, Ltd. added | 530,857 | $63M | 0.1% | 2026-Q2 |
| Invesco Ltd. trimmed | 524,812 | $63M | 0.1% | 2026-Q2 |
| SEI INVESTMENTS CO added | 516,827 | $62M | 0.1% | 2026-Q2 |
| ADAGE CAPITAL PARTNERS GP, L.L.C. trimmed | 516,526 | $62M | 0.1% | 2026-Q2 |
| Point72 Asset Management, L.P. trimmed | 502,283 | $60M | 0.1% | 2026-Q2 |
| BlackRock, Inc. added | 496,796 | $59M | 0.1% | 2026-Q2 |
| Dixon Mitchell Investment Counsel Inc. added | 494,412 | $59M | 0.1% | 2026-Q2 |
| AMERICAN CENTURY COMPANIES INC added | 490,628 | $59M | 0.1% | 2026-Q2 |
| MILLENNIUM MANAGEMENT LLC trimmed | 473,152 | $56M | 0.1% | 2026-Q2 |
| Quadrature Capital Ltd added | 465,944 | $56M | 0.1% | 2026-Q2 |
| AVIVA PLC added | 464,294 | $55M | 0.1% | 2026-Q2 |
| GUARDIAN CAPITAL LP added | 422,207 | $50M | 0.1% | 2026-Q2 |
| CIDEL ASSET MANAGEMENT INC trimmed | 403,673 | $48M | 0.1% | 2026-Q2 |
| Northwest & Ethical Investments L.P. trimmed | 400,958 | $48M | 0.1% | 2026-Q2 |
| SATURNA CAPITAL CORP added | 400,815 | $48M | 0.1% | 2026-Q2 |
| UBS Group AG trimmed | 379,861 | $45M | 0.1% | 2026-Q2 |
| CIBC Bancorp USA Inc. trimmed | 339,921 | $41M | 0.1% | 2026-Q2 |
| BARCLAYS PLC trimmed | 334,663 | $40M | 0.1% | 2026-Q2 |
| Encompass Capital Advisors LLC trimmed | 325,000 | $39M | 0.1% | 2026-Q2 |
| NEUBERGER BERMAN GROUP LLC added | 307,260 | $37M | 0.1% | 2026-Q2 |
| ENVESTNET ASSET MANAGEMENT INC added | 291,367 | $35M | 0.1% | 2026-Q2 |
| BCV Asset Management Inc. trimmed | 288,600 | $35M | 0.1% | 2026-Q2 |
| BANK OF NOVA SCOTIA TRUST CO trimmed | 287,270 | $34M | 0.1% | 2026-Q2 |
| FIRST TRUST ADVISORS LP trimmed | 280,253 | $33M | 0.1% | 2026-Q2 |
| VAN ECK ASSOCIATES CORP added | 273,682 | $33M | 0.1% | 2026-Q2 |
| Pictet Asset Management Holding SA trimmed | 263,926 | $31M | 0.1% | 2026-Q2 |
Ownership over time
Tracked institutional holder count and total shares held by filing quarter (independent scales). The curated-era tail and any mid-ingest latest quarter are handled honestly — a partial quarter is not drawn as a collapse.
Reading this table
Funds hold the same stock for different reasons — an index fund “holds” almost everything, an active manager sizes a name to a mandate and a benchmark, and each fund entered at its own price and time. Because 13F is filed up to 45 days after quarter-end, every row is a backward-looking snapshot; a manager may have traded since. Share-class siblings (a company’s A and C shares) are rolled up to one line so a dual-class name is never double-counted. Compare like-for-like. A large holder is not an endorsement, and a fund exiting is not a warning — this is a starting question, not a verdict.
About 13F filings
A Form 13F is a quarterly disclosure that institutional investment managers with over $100 million in US-listed equities must file with the SEC. In plain English: it is a snapshot of the long stock positions a fund held at the end of a quarter. It covers long US-listed equities only — not short positions, options, cash, or private holdings — and the funds shown are the large sample we track, not the complete 13F universe.