Who owns CNI (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-Q1 13F filings. 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
224 tracked funds added or opened CNI while 138 trimmed or exited it between 2025-Q4 and 2026-Q1 — 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 16.8% of its own reported 13F book, while the median holder sizes it at 0.4% of theirs — a 16.5pp 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 2025-Q4 and 2026-Q1, across 823 tracked filers holding CNI, 364 increased or opened the position and 361 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 2025-Q4 and 2026-Q1 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 44
- VANGUARD CAPITAL MANAGEMENT LLC$1.6B
- VANGUARD FIDUCIARY TRUST CO$494M
- Vanguard Global Advisers, LLC$226M
- Mitsubishi UFJ Trust & Banking Corp$144M
- VANGUARD ASSET MANAGEMENT, Ltd$106M
- OMERS ADMINISTRATION Corp$60M
Full exits 30
- VANGUARD GROUP INC$2.4B
- Clean Energy Transition LLP$47M
- DUFF & PHELPS INVESTMENT MANAGEMENT CO$33M
- CIBC Private Wealth Group LLC$31M
- TWO SIGMA ADVISERS, LP$21M
- Bridgewater Associates, LP$19M
Largest adds
- Caisse de depot et placement du Quebec$551M
- WELLINGTON MANAGEMENT GROUP LLP$260M
- ROYAL BANK OF CANADA$246M
- TD Waterhouse Canada Inc.$234M
- GATES FOUNDATION TRUST$203M
- FIL Ltd$176M
Largest trims
- Capital International Investors$833M
- Quadrature Capital Ltd$178M
- DEUTSCHE BANK AG\$149M
- BANK OF NOVA SCOTIA$136M
- PRICE T ROWE ASSOCIATES INC /MD/$128M
- ARROWSTREET CAPITAL, LIMITED PARTNERSHIP$123M
Institutional holders
One row per tracked fund, largest reported value first. “% of value” is the fund’s share of this security’s tracked institutional value — not of shares outstanding. Rows marked stale are from an earlier filing than the security’s latest quarter — that fund is absent from the newest snapshot (position exited, or reported under a different name).
| Fund | Shares | Reported value | % of value | Quarter |
|---|---|---|---|---|
| GATES FOUNDATION TRUST | 51,826,786 | $5.3B | 12.2% | 2026-Q1 |
| ROYAL BANK OF CANADA added | 27,509,225 | $2.8B | 6.5% | 2026-Q1 |
| Caisse de depot et placement du Quebec added | 18,784,173 | $1.9B | 4.4% | 2026-Q1 |
| 1832 Asset Management L.P. trimmed | 18,683,240 | $1.9B | 4.4% | 2026-Q1 |
| FIL Ltd added | 16,841,218 | $1.7B | 4.0% | 2026-Q1 |
| VANGUARD CAPITAL MANAGEMENT LLC new | 15,798,602 | $1.6B | 3.7% | 2026-Q1 |
| BANK OF MONTREAL /CAN/ trimmed | 13,995,757 | $1.4B | 3.3% | 2026-Q1 |
| TD Asset Management Inc added | 12,131,313 | $1.2B | 2.8% | 2026-Q1 |
| WELLINGTON MANAGEMENT GROUP LLP added | 11,520,425 | $1.2B | 2.7% | 2026-Q1 |
| MASSACHUSETTS FINANCIAL SERVICES CO /MA/ trimmed | 3,750,670 | $1.1B | 2.4% | 2026-Q1 |
| TCI FUND MANAGEMENT LTD | 9,849,934 | $1.0B | 2.3% | 2026-Q1 |
| LAZARD ASSET MANAGEMENT LLC added | 9,077,518 | $934M | 2.1% | 2026-Q1 |
| MACKENZIE FINANCIAL CORP trimmed | 8,776,306 | $903M | 2.1% | 2026-Q1 |
| DEUTSCHE BANK AG\ trimmed | 7,205,119 | $740M | 1.7% | 2026-Q1 |
| NATIONAL BANK OF CANADA /FI/ trimmed | 6,685,129 | $686M | 1.6% | 2026-Q1 |
| PRICE T ROWE ASSOCIATES INC /MD/ trimmed | 6,476,573 | $666M | 1.5% | 2026-Q1 |
| Fiera Capital Corp trimmed | 6,191,510 | $636M | 1.5% | 2026-Q1 |
| GEODE CAPITAL MANAGEMENT, LLC added | 5,222,211 | $543M | 1.2% | 2026-Q1 |
| NORGES BANK trimmed | 5,548,937 | $540M | 1.2% | 2026-Q1 |
| Clearbridge Investments, LLC added | 5,252,996 | $540M | 1.2% | 2026-Q1 |
| CIBC WORLD MARKET INC. trimmed | 5,099,397 | $527M | 1.2% | 2026-Q1 |
| VANGUARD FIDUCIARY TRUST CO new | 4,795,222 | $494M | 1.1% | 2026-Q1 |
| ARROWSTREET CAPITAL, LIMITED PARTNERSHIP trimmed | 4,728,502 | $486M | 1.1% | 2026-Q1 |
| Connor, Clark & Lunn Investment Management Ltd. added | 4,575,185 | $471M | 1.1% | 2026-Q1 |
| CANADA PENSION PLAN INVESTMENT BOARD added | 4,490,181 | $462M | 1.1% | 2026-Q1 |
| MANUFACTURERS LIFE INSURANCE COMPANY, THE trimmed | 4,404,252 | $453M | 1.0% | 2026-Q1 |
| Legal & General Group Plc added | 4,215,174 | $432M | 1.0% | 2026-Q1 |
| TD Waterhouse Canada Inc. added | 4,181,425 | $430M | 1.0% | 2026-Q1 |
| SCOTIA CAPITAL INC. added | 3,924,912 | $402M | 0.9% | 2026-Q1 |
| Federation des caisses Desjardins du Quebec added | 3,835,776 | $392M | 0.9% | 2026-Q1 |
| CIBC Asset Management Inc added | 3,668,641 | $377M | 0.9% | 2026-Q1 |
| Canoe Financial LP added | 3,426,466 | $353M | 0.8% | 2026-Q1 |
| JPMORGAN CHASE & CO added | 2,937,155 | $298M | 0.7% | 2026-Q1 |
| Harding Loevner LP added | 2,841,460 | $292M | 0.7% | 2026-Q1 |
| Troy Asset Management Ltd trimmed | 2,628,962 | $285M | 0.7% | 2026-Q1 |
| GOLDMAN SACHS GROUP INC trimmed | 2,699,658 | $277M | 0.6% | 2026-Q1 |
| MORGAN STANLEY added | 2,665,627 | $274M | 0.6% | 2026-Q1 |
| Fisher Asset Management, LLC added | 2,534,484 | $260M | 0.6% | 2026-Q1 |
| Beutel, Goodman & Co Ltd. trimmed | 2,415,690 | $248M | 0.6% | 2026-Q1 |
| Vanguard Global Advisers, LLC new | 2,193,483 | $226M | 0.5% | 2026-Q1 |
| TORONTO DOMINION BANK trimmed | 1,962,533 | $202M | 0.5% | 2026-Q1 |
| Findlay Park Partners LLP added | 1,887,968 | $194M | 0.4% | 2026-Q1 |
| FMR LLC added | 1,842,426 | $190M | 0.4% | 2026-Q1 |
| Swiss National Bank added | 1,761,000 | $181M | 0.4% | 2026-Q1 |
| CHARLES SCHWAB INVESTMENT MANAGEMENT INC added | 1,620,498 | $166M | 0.4% | 2026-Q1 |
| CITADEL ADVISORS LLC added | 1,549,725 | $159M | 0.4% | 2026-Q1 |
| Capital International Investors trimmed | 1,443,751 | $149M | 0.3% | 2026-Q1 |
| BANK OF NOVA SCOTIA trimmed | 1,397,099 | $144M | 0.3% | 2026-Q1 |
| Mitsubishi UFJ Trust & Banking Corp added | 1,411,788 | $144M | 0.3% | 2026-Q1 |
| STIFEL FINANCIAL CORP added | 1,390,935 | $143M | 0.3% | 2026-Q1 |
| BANK OF AMERICA CORP /DE/ trimmed | 1,390,345 | $143M | 0.3% | 2026-Q1 |
| DIMENSIONAL FUND ADVISORS LP added | 1,382,499 | $142M | 0.3% | 2026-Q1 |
| LORING WOLCOTT & COOLIDGE FIDUCIARY ADVISORS LLP/MA trimmed | 1,272,014 | $140M | 0.3% | 2026-Q1 |
| Cardinal Capital Management, Inc. added | 1,185,461 | $122M | 0.3% | 2026-Q1 |
| Nuveen, LLC trimmed | 1,153,891 | $118M | 0.3% | 2026-Q1 |
| AQR CAPITAL MANAGEMENT LLC trimmed | 1,130,372 | $115M | 0.3% | 2026-Q1 |
| LETKO, BROSSEAU & ASSOCIATES INC added | 1,051,605 | $108M | 0.2% | 2026-Q1 |
| VANGUARD ASSET MANAGEMENT, Ltd new | 1,030,080 | $106M | 0.2% | 2026-Q1 |
| Amundi added | 1,021,905 | $105M | 0.2% | 2026-Q1 |
| INTACT INVESTMENT MANAGEMENT INC. added | 961,420 | $99M | 0.2% | 2026-Q1 |
| Douglass Winthrop Advisors, LLC trimmed | 954,295 | $98M | 0.2% | 2026-Q1 |
| MILLENNIUM MANAGEMENT LLC added | 950,376 | $98M | 0.2% | 2026-Q1 |
| Invesco Ltd. trimmed | 935,525 | $96M | 0.2% | 2026-Q1 |
| ADAGE CAPITAL PARTNERS GP, L.L.C. added | 857,585 | $88M | 0.2% | 2026-Q1 |
| MUFG SECURITIES (CANADA), LTD. trimmed | 809,402 | $83M | 0.2% | 2026-Q1 |
| BLI - Banque de Luxembourg Investments | 844,888 | $82M | 0.2% | 2026-Q1 |
| Point72 Asset Management, L.P. added | 779,813 | $80M | 0.2% | 2026-Q1 |
| Alberta Investment Management Corp added | 759,302 | $78M | 0.2% | 2026-Q1 |
| Scheer, Rowlett & Associates Investment Management Ltd. trimmed | 733,191 | $75M | 0.2% | 2026-Q1 |
| AGF MANAGEMENT LTD trimmed | 534,838 | $74M | 0.2% | 2026-Q1 |
| FRANKLIN RESOURCES INC added | 713,045 | $73M | 0.2% | 2026-Q1 |
| UBS Group AG added | 668,497 | $69M | 0.2% | 2026-Q1 |
| BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp trimmed | 646,694 | $67M | 0.2% | 2026-Q1 |
| Addenda Capital Inc. added | 460,005 | $66M | 0.2% | 2026-Q1 |
| QV Investors Inc. trimmed | 616,110 | $63M | 0.1% | 2026-Q1 |
| Value Partners Investments Inc. added | 605,969 | $62M | 0.1% | 2026-Q1 |
| NORTHERN TRUST CORP added | 591,453 | $61M | 0.1% | 2026-Q1 |
| OMERS ADMINISTRATION Corp added | 580,000 | $60M | 0.1% | 2026-Q1 |
| State of Tennessee, Department of Treasury added | 554,927 | $57M | 0.1% | 2026-Q1 |
| Vanguard Investments Australia, Ltd. new | 518,832 | $53M | 0.1% | 2026-Q1 |
| CIDEL ASSET MANAGEMENT INC added | 515,357 | $53M | 0.1% | 2026-Q1 |
| BALYASNY ASSET MANAGEMENT L.P. trimmed | 505,759 | $52M | 0.1% | 2026-Q1 |
| SEI INVESTMENTS CO trimmed | 505,257 | $52M | 0.1% | 2026-Q1 |
| Bank of New York Mellon Corp added | 504,017 | $52M | 0.1% | 2026-Q1 |
| Russell Investments Group, Ltd. trimmed | 503,705 | $52M | 0.1% | 2026-Q1 |
| BROWN ADVISORY INC trimmed | 489,824 | $50M | 0.1% | 2026-Q1 |
| VOLORIDGE INVESTMENT MANAGEMENT, LLC trimmed | 488,695 | $50M | 0.1% | 2026-Q1 |
| DekaBank Deutsche Girozentrale | 456,770 | $48M | 0.1% | 2026-Q1 |
| AVIVA PLC added | 461,754 | $47M | 0.1% | 2026-Q1 |
| RENAISSANCE TECHNOLOGIES LLC added | 460,500 | $47M | 0.1% | 2026-Q1 |
| Quadrature Capital Ltd trimmed | 452,000 | $46M | 0.1% | 2026-Q1 |
| VANGUARD GROUP INC added | 24,646,872 | $2.4B | 5.6% | 2025-Q4 stale |
| JARISLOWSKY, FRASER Ltd trimmed | 8,871,249 | $837M | 1.9% | 2025-Q3 stale |
| Ninety One UK Ltd added | 2,050,826 | $213M | 0.5% | 2025-Q2 stale |
| ClearBridge Investments Ltd added | 1,769,970 | $184M | 0.4% | 2025-Q2 stale |
| Burgundy Asset Management Ltd. added | 845,531 | $82M | 0.2% | 2025-Q3 stale |
| HSBC HOLDINGS PLC added | 557,945 | $53M | 0.1% | 2025-Q3 stale |
| Encompass Capital Advisors LLC added | 500,000 | $49M | 0.1% | 2025-Q1 stale |
| Clean Energy Transition LLP new | 478,184 | $47M | 0.1% | 2025-Q4 stale |
| Bornite Capital Management LP added | 500,000 | $47M | 0.1% | 2025-Q3 stale |
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.