CANADIAN NATL RY CO (CNI) — Hedge Fund Ownership Q4 2025
CNI
- CANADIAN NATL RY CO (CNI) is held by 5 of 81 tracked hedge funds, with Gates Foundation Trust (14%) and TCI Fund Management (2%) holding the largest stakes, indicating limited hedge fund interest relative to peers.
- The biggest increases in CNI holdings came from Markel Group (+78%), highlighting conviction.
- The biggest decreases in CNI holdings came from TCI Fund Management (-48%), suggesting profit-taking or de-risking.
- Overall, hedge funds decreased exposure to CANADIAN NATL RY CO (CNI) by -13% vs the prior quarter and -27% vs prior year.
| # | Fund | % of Portfolio † | Shares † | Shares vs Prior Quarter † | Shares vs Prior Year † | Aggregate Value † | Reported Price * | Option |
|---|---|---|---|---|---|---|---|---|
| 1 |
Gates Foundation Trust
|
14.49% | 51.8M | — | -5.47% | $5.12B | $98.85 | — |
| 2 |
TCI Fund Management
|
1.82% | 9.8M | -47.52% | -66.83% | $974.1M | $98.90 | — |
| 3 |
Fairfax Financial Holdings Prem Watsa
|
0.09% | 20K | NEW | — | $2.0M | $99.00 | — |
| 4 |
Markel Group Tom Gayner
|
0.04% | 44K | +78.00% | — | $4.4M | $98.85 | — |
| 5 |
First Eagle Investment Management
|
0.00% | 2K | — | +1.71% | $176,052 | $98.91 | — |
| 5 | Total | — | 61.7M | -12.60% | -27.03% | $6.10B | — | — |
* Reported price is not an actual purchase or sale price. It is the price as of the last portfolio date.
† Portfolio value, share counts, and period-over-period changes exclude options positions (PUT/CALL), which are shown in the Option column for reference only.
† Portfolio value, share counts, and period-over-period changes exclude options positions (PUT/CALL), which are shown in the Option column for reference only.