Canadian National Railway Company
DE ˙ DB ˙ CA1363751027
102,20 € ↓ -0,75 (-0,73%)
2026-06-04
DEL PRIS
SecurityDE:CY2 / Canadian National Railway Company
InstitutionTCI Fund Management Ltd
Latest Disclosed Ownership26,166,798 shares
Ownership 4.20%
TCI Fund Management Ltd ownership in CY2 / Canadian National Railway Company

2025-04-30 - TCI Fund Management Ltd has filed an SCHEDULE 13D/A form with the Securities and Exchange Commission (SEC) disclosing ownership of 26,166,798 shares of Canadian National Railway Company (DE:CY2). This represents 4.2 percent ownership of the company. In their previous filing dated 2024-11-04 , TCI Fund Management Ltd had reported owning 32,719,677 shares, indicating a decrease of -20.03 percent.

Institutional Ownership: 13D/G Filings

This table shows a history of the 13D/G filings made by the investor and/or investor group. Note that the share values in this table are not directly comparable to any numbers shown in the 13F table (if any).

File
Date		Effective
Date		Form Prev
Shares		 Latest
Shares		 ΔShares
(Percent)		 Ownership
(Percent)		 ΔOwnership
(Percent)
2025-04-30 2025-04-30 13D/A 32,719,677 26,166,798 -20.03 4.20
2024-11-04 2024-11-04 13D/A 40,518,953 32,719,677 -19.25
2023-11-09 2023-11-09 13D/A 36,699,825 40,518,953 10.41
2022-01-26 2022-01-26 13D/A 36,699,825 36,699,825 0.00
2021-10-18 2021-10-18 13D/A 36,699,825 36,699,825 0.00
2021-09-27 2021-09-27 13D/A 36,699,825 36,699,825 0.00
2021-09-17 2021-09-17 13D/A 36,699,825 36,699,825 0.00
2021-09-13 2021-09-13 13D/A 36,699,825 36,699,825 0.00
2021-09-07 2021-09-07 13D/A 36,611,825 36,699,825 0.24
2021-08-31 2021-08-31 13D/A 36,521,825 36,611,825 0.25
2021-08-30 2021-08-30 13D 36,521,825

Important Note: One of the primary uses of the 13D/G filings is to evaluate the ability of a firm to control a company (ie, the "beneficial ownership"). To that end, firms are required to report not just direct holdings in companies, but indirect holdings that they control. For investment firms, these indirect holdings can include shares in funds they manage, advisory accounts, and in the case of activist campaigns, pledged votes. Therefore, share counts listed in 13D/G filings can differ significantly than share counts listed in 13F filings.

Institutional Ownership: 13F and NPORT Filings

The Security and Class in the table below are shown exactly as filed by the investor. We do our best to track continuity of investments through acquisitions, and this will be reflected in the table as changes in names. In addition to descriptive data, performance of the investment is shown over time. To calculate quarterly performance, we first calculate cost basis of the shares purchased during the quarter, then use that to calculate gross profit. Quarterly return is Gross Profit / Starting Portfolio value.

Note that cost basis is calculated and stored in thousands, so small quarterly changes in shares frequently result in a cost basis of zero.

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Disclosed Equity Positions (from 13F/NPORT Filings)
File
Date		 Effective
Date		Form Security Class ID Avg Price
Paid (Est)		 Reported
Shares		 ΔShares ΔShares
(%)		 Reported
Value
(x1000)		 ΔValue
(%)		 Alloc
(%)		 ΔAlloc ΔAlloc (%) Cost Basis
(x1000)		 Unrealized
Gain/Loss
(x1000)
2026-05-15 2026-03-31 13F CANADIAN NATL RY COM 136375102 9,849,934 0 0.00 1,013,208 4.01 2.2431
2026-02-17 2025-12-31 13F CANADIAN NATL RY COM 136375102 9,849,934 -8,917,840 -47.52 974,115 -44.96 1.8157
2025-11-14 2025-09-30 13F CANADIAN NATL RY COM 136375102 18,767,774 -4,221,292 -18.36 1,769,673 -26.09 3.3580
2025-08-14 2025-06-30 13F CANADIAN NATL RY COM 136375102 22,989,066 -3,910,012 -14.54 2,394,410 -8.60 4.7221
2025-05-15 2025-03-31 13F CANADIAN NATL RY COM 136375102 26,899,078 -2,794,686 -9.41 2,619,620 -13.08 6.0398
2025-02-14 2024-12-31 13F CANADIAN NATL RY COM 136375102 29,693,764 -5,743,513 -16.21 3,013,663 -27.39 7.1054
2024-11-14 2024-09-30 13F CANADIAN NATL RY COM 136375102 35,437,277 -4,051,108 -10.26 4,150,342 -11.05 9.4282
2024-08-14 2024-06-30 13F CANADIAN NATL RY COM 136375102 39,488,385 0 0.00 4,665,902 -10.30 11.4013
2024-05-15 2024-03-31 13F CANADIAN NATL RY COM 136375102 39,488,385 -583,928 -1.46 5,201,441 3.25 13.1154
2024-02-14 2023-12-31 13F CANADIAN NATL RY COM 136375102 40,072,313 -816,640 -2.00 5,037,819 13.79 14.0066
2023-11-14 2023-09-30 13F CANADIAN NATL RY COM 136375102 40,888,953 0 0.00 4,427,183 -10.61 16.0611
2023-08-14 2023-06-30 13F CANADIAN NATL RY COM 136375102 40,888,953 4,189,128 11.41 4,952,547 14.39 14.7099
2023-05-15 2023-03-31 13F CANADIAN NATL RY COM 136375102 36,699,825 0 0.00 4,329,617 -0.65 14.8255
2023-02-14 2022-12-31 13F CANADIAN NATL RY COM 136375102 36,699,825 0 0.00 4,357,887 10.04 14.5605
2022-11-14 2022-09-30 13F CANADIAN NATL RY COM 136375102 36,699,825 0 0.00 3,960,442 -4.05 13.8590
2022-08-15 2022-06-30 13F CANADIAN NATL RY COM 136375102 36,699,825 0 0.00 4,127,697 -16.13 13.0618
2022-05-16 2022-03-31 13F CANADIAN NATL RY COM 136375102 36,699,825 0 0.00 4,921,414 9.10 13.3596
2022-02-14 2021-12-31 13F CANADIAN NATL RY COM 136375102 36,699,825 0 0.00 4,510,742 6.23 10.1511
2021-11-15 2021-09-30 13F CANADIAN NATL RY COM 136375102 36,699,825 6,592,022 21.89 4,246,357 33.68 10.1974
2021-08-16 2021-06-30 13F CANADIAN NATL RY COM 136375102 30,107,803 9,334,385 44.93 3,176,525 31.76 7.9223
2021-05-17 2021-03-31 13F CANADIAN NATL RY COM 136375102 20,773,418 0 0.00 2,410,839 5.62 6.9994
2021-02-16 2020-12-31 13F CANADIAN NATL RY COM 136375102 20,773,418 -28,847 -0.14 2,282,520 3.07 7.4907
2020-11-16 2020-09-30 13F CANADIAN NATL RY COM 136375102 20,802,265 -200,105 -0.95 2,214,569 19.13 7.9441
2020-08-14 2020-06-30 13F CANADIAN NATL RY COM 136375102 21,002,370 90,469 0.43 1,858,970 13.99 7.3751
2020-05-15 2020-03-31 13F CANADIAN NATL RY COM 136375102 20,911,901 430,988 2.10 1,630,758 -11.96 7.7438
2020-02-14 2019-12-31 13F CANADIAN NATL RY COM 136375102 20,480,913 1,378,200 7.21 1,852,238 7.91 8.1949
2019-11-14 2019-09-30 13F CANADIAN NATL RY COM 136375102 19,102,713 110,290 0.58 1,716,468 -2.32 8.9066
2019-08-14 2019-06-30 13F CANADIAN NATL RY COM 136375102 18,992,423 6,134,889 47.71 1,757,269 52.60 9.4791
2019-05-15 2019-03-31 13F CANADIAN NATL RY COM 136375102 12,857,534 2,137,051 19.93 1,151,538 44.91 7.5256
2019-02-14 2018-12-31 13F CANADIAN NATL RY COM 136375102 10,720,483 8,948,483 504.99 794,635 399.49 3.9757
2018-11-14 2018-09-30 13F CANADIAN NATL RY COM 136375102 1,772,000 1,772,000 159,088 0.8330
Legend
Shares
The total number of shares held by the institution at the end of the reporting period (the effective date). This is provided in the filing.
Value
The total value of the shares as of the effective date. This is provided in the filing.
Avg. Share Price
The weighted average share price of the shares held by the institution. We use FIFO accounting to determine this price
Class
This is the security class as indicated by the filer. There are a variety of values for this field. Common values include "EC" = equity common, "EP" - equity preferred
Allocation (%)
The percent of the institution's portfolio that this position represents. This is provided in NPORT filings. For 13F filings, we calculate it.
Change in Allocation
The change in allocation from the prior reporting period. This is calculated as current allocation - prior allocation.
Change in Allocation (%)
The percent change in allocation from the prior reporting period. This is calculated as (current allocation - prior allocation) / prior allocation.
Cost Basis
The total cost of the shares held. This is calculated as reported shares * avg. share price
Unrealized Gain/Loss
This is the market value of the position as of the effective date minus the cost basis.