Canadian National Railway Company (CNI) Ownership
CNI ownership summary
as of October 18, 2026- Institutions
- 73.9% of shares outstanding
- Insiders
- 0.03% of shares outstanding
- Shares outstanding
- 604.1M
- Float
- 603.2M shares available to trade
- Short interest
- 0.85% 6.4M shares short
- Days to cover
- 4.38 short interest down 5.2% vs prior month
- Institutions 73.93%
- Insiders 0.03%
- Other investors 26.05%
CNI top institutional holders
20 largest| # | Holder | % of shares | Shares | Value | Change | Reported |
|---|---|---|---|---|---|---|
| 1 | Gates Bill & Melinda Foundation | 8.58% | 51.8M | $6.31B | — | June 30, 2026 |
| 2 | Royal Bank of Canada | 5.16% | 31.2M | $3.79B | +3.6M (+13.3%) | June 30, 2026 |
| 3 | Fidelity International Ltd | 3.17% | 19.1M | $2.33B | +2.3M (+13.6%) | June 30, 2026 |
| 4 | Caisse De Depot Et Placement Du Quebec | 3.14% | 19.0M | $2.31B | +178,385 (+0.9%) | June 30, 2026 |
| 5 | 1832 Asset Management L.P | 2.73% | 16.5M | $2.01B | −2.2M (−11.6%) | June 30, 2026 |
| 6 | Vanguard Capital Management, LLC | 2.64% | 15.9M | $1.94B | +120,099 (+0.8%) | June 30, 2026 |
| 7 | Bank of Montreal | 2.46% | 14.8M | $1.81B | +845,548 (+6.0%) | June 30, 2026 |
| 8 | BMO Capital Markets Corp. | 2.46% | 14.8M | $1.81B | +845,548 (+6.0%) | June 30, 2026 |
| 9 | TD Asset Management Inc | 1.64% | 9.9M | $1.21B | −2.2M (−18.3%) | June 30, 2026 |
| 10 | TCI Fund Management Limited | 1.56% | 9.4M | $1.15B | −416,512 (−4.2%) | June 30, 2026 |
| 11 | Mackenzie Investments | 1.48% | 8.9M | $1.09B | +163,017 (+1.9%) | June 30, 2026 |
| 12 | Wellington Management Company LLP | 1.41% | 8.5M | $1.04B | −3.0M (−25.9%) | June 30, 2026 |
| 13 | CIBC Global Asset Management Inc | 1.14% | 6.9M | $835.7M | +3.2M (+87.0%) | June 30, 2026 |
| 14 | NATIONAL BANK OF CANADA /FI/ | 1.12% | 6.8M | $823.5M | +76,139 (+1.1%) | June 30, 2026 |
| 15 | Deutsche Bank AG | 1.00% | 6.1M | $738.3M | −1.1M (−15.9%) | June 30, 2026 |
| 16 | T. Rowe Price Associates, Inc. | 1.00% | 6.1M | $737.1M | −424,251 (−6.6%) | June 30, 2026 |
| 17 | ClearBridge Advisors, LLC | 0.99% | 6.0M | $726.4M | +711,429 (+13.5%) | June 30, 2026 |
| 18 | Geode Capital Management, LLC | 0.97% | 5.8M | $710.0M | +607,775 (+11.6%) | June 30, 2026 |
| 19 | NORGES BANK | 0.94% | 5.7M | $693.6M | −69,689 (−1.2%) | June 30, 2026 |
| 20 | Connor Clark & Lunn Inv Mgmt Ltd | 0.94% | 5.7M | $691.1M | +1.1M (+24.0%) | June 30, 2026 |
Value at the latest close. Change = shares bought or sold in the latest quarterly filing (13F). In the top 20, 12 holders added 13.8M shares and 7 cut 9.4M.
CNI top mutual fund and ETF holders
20 largest| # | Holder | % of shares | Shares | Value | Change | Reported |
|---|---|---|---|---|---|---|
| 1 | Vanguard Total Intl Stock Index Inv | 1.33% | 8.0M | $975.2M | +4,229 (+0.1%) | August 31, 2026 |
| 2 | Vanguard Developed Markets Index Admiral | 0.87% | 5.2M | $638.7M | −80,297 (−1.5%) | September 30, 2026 |
| 3 | RBC Canadian Dividend Fund A | 0.78% | 4.7M | $571.1M | — | June 30, 2026 |
| 4 | iShares Core S&P/TSX Cap Composite ETF | 0.63% | 3.8M | $464.0M | −22,140 (−0.6%) | September 30, 2026 |
| 5 | DWS Top Dividende LD | 0.62% | 3.7M | $452.8M | — | August 31, 2026 |
| 6 | TD Dividend Growth - I | 0.56% | 3.4M | $414.7M | — | June 30, 2026 |
| 7 | Vanguard Dividend Growth Inv | 0.55% | 3.3M | $405.3M | −2.8M (−45.5%) | June 30, 2026 |
| 8 | iShares S&P/TSX 60 ETF | 0.52% | 3.2M | $384.7M | +82,013 (+2.7%) | September 30, 2026 |
| 9 | Scotia Canadian Dividend A | 0.51% | 3.1M | $373.6M | −105,500 (−3.3%) | July 31, 2026 |
| 10 | Fidelity SAI Canada Equity Index | 0.46% | 2.7M | $334.9M | +74,436 (+2.8%) | August 31, 2026 |
| 11 | Fidelity Canadian Large Cap Sr B | 0.43% | 2.6M | $316.7M | −210,000 (−7.5%) | June 30, 2026 |
| 12 | Harding Loevner International Eq Instl | 0.38% | 2.3M | $278.4M | −75,269 (−3.2%) | July 31, 2026 |
| 13 | JPMorgan BetaBuilders Canada ETF | 0.33% | 2.0M | $246.4M | +8,379 (+0.4%) | September 30, 2026 |
| 14 | iProfile Canadian Equity Private Pool I | 0.33% | 2.0M | $245.2M | — | July 31, 2026 |
| 15 | BMO S&P/TSX Capped Composite ETF | 0.32% | 1.9M | $236.1M | — | September 17, 2026 |
| 16 | Vanguard FTSE Canada All Cap ETF | 0.31% | 1.9M | $230.7M | −427 (−0.0%) | September 30, 2026 |
| 17 | BMO Dividend A | 0.27% | 1.6M | $199.2M | — | August 31, 2026 |
| 18 | Vanguard Windsor Investor Shares | 0.27% | 1.6M | $198.2M | +138,542 (+9.3%) | June 30, 2026 |
| 19 | Findlay Park American I USD Dist | 0.25% | 1.5M | $185.6M | −301,900 (−16.5%) | July 31, 2026 |
| 20 | Fidelity Canadian Large Cp Mlt Ast Bs O | 0.25% | 1.5M | $185.1M | −35,000 (−2.3%) | June 30, 2026 |
Funds report holdings monthly or quarterly; dates differ by fund.
CNI shares outstanding
Year-end shares outstanding, adjusted for splits.
Who owns CNI
Institutional investors own 73.9% of Canadian National Railway's shares and insiders 0.03%. The largest holder is Gates Bill & Melinda Foundation with 8.58% of the shares (51.8M), as of June 30, 2026. Among the top 20 institutions, 12 added shares and 7 reduced their stake in the latest filings. Short interest is 0.85% of the float, or 4.38 days of average trading volume. The share count fell 24.6% since 2014.
Related: CNI analyst forecast, CNI dividend history. See the CNI stock overview for the latest quote and news.
CNI ownership FAQ
Who owns the most Canadian National Railway stock?
The largest shareholders of Canadian National Railway are Gates Bill & Melinda Foundation (8.58%), Royal Bank of Canada (5.16%), Fidelity International Ltd (3.17%), Caisse De Depot Et Placement Du Quebec (3.14%), 1832 Asset Management L.P (2.73%).
What percentage of Canadian National Railway is owned by institutions?
Institutions hold 73.9% of Canadian National Railway's shares outstanding; insiders hold 0.03%.
Which funds own Canadian National Railway?
The largest fund holders of Canadian National Railway are Vanguard Total Intl Stock Index Inv (1.33%), Vanguard Developed Markets Index Admiral (0.87%), RBC Canadian Dividend Fund A (0.78%), iShares Core S&P/TSX Cap Composite ETF (0.63%), DWS Top Dividende LD (0.62%).
What is Canadian National Railway's short interest?
6.4M shares of Canadian National Railway were sold short, 0.85% of the float; at the average daily volume it would take 4.38 days to cover.
How many shares of Canadian National Railway are outstanding?
Canadian National Railway has 604.1M shares outstanding, of which 603.2M are in the public float.