Canadian National Railway Company
US ˙ NYSE ˙ CA1363751027

SecurityCNI / Canadian National Railway Company
InstitutionMacquarie Group Ltd
Latest Disclosed Ownership0 shares
Latest Disclosed Value $ 0
Macquarie Group Ltd closes position in CNI / Canadian National Railway Company

On February 13, 2026 - Macquarie Group Ltd filed a 13F-HR form disclosing ownership of 0 shares of Canadian National Railway Company (US:CNI) valued at $0 USD as of December 31, 2025. The entity filed a previous 13F-HR on November 13, 2025 disclosing 42,668 shares of Canadian National Railway Company. The current value of the position is $0 USD.

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)
2026-02-13 2025-12-31 13F CANADIAN NATL RY COM 136375102 0 -100.00 0
2025-11-13 2025-09-30 13F CANADIAN NATL RY COM 136375102 42,668 -475,239 -91.76 4,024 -94.40 0.0021
2025-08-14 2025-06-30 13F CANADIAN NATL RY COM 136375102 517,907 160,823 45.04 71,863 48.56 0.0882
2025-08-14 2025-03-31 13F/A-1 CANADIAN NATL RY COM 136375102 357,084 318,483 825.06 48,374 1,134.66 0.0600
2025-05-15 2025-03-31 13F CANADIAN NATL RY COM 136375102 357,084 318,483 48,374 0.0395
2025-02-14 2024-12-31 13F CANADIAN NATL RY COM 136375102 38,601 -724 -1.84 3,919 -14.94 0.0048
2024-11-14 2024-09-30 13F CANADIAN NATL RY COM 136375102 39,325 -461 -1.16 4,607 -2.00 0.0050
2024-08-09 2024-06-30 13F CANADIAN NATL RY COM 136375102 39,786 -399 -0.99 4,700 -11.19 0.0054
2024-05-14 2024-03-31 13F CANADIAN NATL RY COM 136375102 40,185 -228 -0.56 5,293 4.23 0.0060
2024-02-14 2023-12-31 13F CANADIAN NATL RY COM 136375102 40,413 -2,120 -4.98 5,077 10.18 0.0059
2023-11-14 2023-09-30 13F CANADIAN NATL RY COM 136375102 42,533 -422 -0.98 4,608 -11.40 0.0058
2023-10-27 2023-06-30 13F/A-2 CANADIAN NATL RY COM 136375102 42,955 -7,976 -15.66 5,201 -13.43 0.0059
2023-10-12 2023-06-30 13F/A-1 CANADIAN NATL RY COM 136375102 42,955 -7,976 5,201 0.0052
2023-08-14 2023-06-30 13F CANADIAN NATL RY COM 136375102 42,955 -7,976 5,201 0.0053
2023-06-01 2023-03-31 13F/A-1 CANADIAN NATL RY COM 136375102 50,931 -528 -1.03 6,008 -1.78 0.0071
2023-05-15 2023-03-31 13F CANADIAN NATL RY COM 136375102 50,931 -528 6,008 0.0055
2023-02-21 2022-12-31 13F CANADIAN NATL RY COM 136375102 51,459 4,640 9.91 6,117 20.98 0.0072
2022-11-14 2022-09-30 13F CANADIAN NATL RY COM 136375102 46,819 -1,096 -2.29 5,056 -6.18 0.0062
2022-08-17 2022-06-30 13F/A-1 CANADIAN NATL RY COM 136375102 47,915 -2,427 -4.82 5,389 -20.20 0.0061
2022-08-15 2022-06-30 13F CANADIAN NATL RY COM 136375102 47,915 -2,427 5,389 0.0019
2022-05-16 2022-03-31 13F CANADIAN NATL RY COM 136375102 50,342 0 0.00 6,753 9.18 0.0051
2022-02-11 2021-12-31 13F Canadian Ntl Rail COM 136375102 50,342 404 0.81 6,185 7.08 0.0052
2021-11-12 2021-09-30 13F CANADIAN NATL RY COM 136375102 49,938 0 0.00 5,776 9.62 0.0049
2021-08-13 2021-06-30 13F CANADIAN NATL RY COM 136375102 49,938 -1,377 -2.68 5,269 -11.46 0.0043
2021-05-14 2021-03-31 13F CANADIAN NATL RY COM 136375102 51,315 -254 -0.49 5,951 5.05 0.0084
2021-02-16 2020-12-31 13F CANADIAN NATL RY COM 136375102 51,569 395 0.77 5,665 3.98 0.0083
2020-11-13 2020-09-30 13F CANADIAN NATL RY COM 136375102 51,174 0 0.00 5,448 20.21 0.0092
2020-08-11 2020-06-30 13F CANADIAN NATL RY COM 136375102 51,174 51,174 4,532 0.0078
2020-05-15 2020-03-31 13F CANADIAN NATL RY COM 136375102 0 -62,521 -100.00 0 -100.00
2020-03-18 2019-12-31 13F/A-2 CANADIAN NATL RY COM 136375102 62,521 9,510 17.94 5,655 18.70 0.0081
2020-02-28 2019-12-31 13F/A-1 CANADIAN NATL RY COM 136375102 62,521 0 5,655 0.0082
2020-02-14 2019-12-31 13F CANADIAN NATL RY COM 136375102 62,521 9,510 5,655 7,096.5458
2019-11-14 2019-09-30 13F CANADIAN NATL RY COM 136375102 53,011 -3,174 -5.65 4,764 -8.31 0.0080
2019-11-06 2019-06-30 13F/A-2 CANADIAN NATL RY COM 136375102 56,185 3,174 5.99 5,196 9.55 0.0088
2019-09-24 2019-06-30 13F/A-1 CANADIAN NATL RY COM 136375102 56,185 0 5,196 0.0088
2019-08-14 2019-06-30 13F CANADIAN NATL RY COM 136375102 56,185 3,174 5,196
2019-05-15 2019-03-31 13F CANADIAN NATL RY COM 136375102 53,011 245 0.46 4,743 21.30 0.0081
2019-02-15 2018-12-31 13F CANADIAN NATL RY COM 136375102 52,766 420 0.80 3,910 -16.83 0.0076
2018-11-15 2018-09-30 13F CANADIAN NATL RY COM 136375102 52,346 342 0.66 4,701 10.59 0.0077
2019-03-21 2018-06-30 13F/A-1 CANADIAN NATL RY COM 136375102 52,004 -17,768 -25.47 4,251 -16.65 0.0073
2018-08-14 2018-06-30 13F CANADIAN NATL RY COM 136375102 52,004 -17,768 4,251
2018-05-11 2018-03-31 13F CANADIAN NATL RY COM 136375102 69,772 19,301 38.24 5,100 22.48 0.0093
2018-02-14 2017-12-31 13F CANADIAN NATL RY COM 136375102 50,471 726 1.46 4,164 1.04 0.0074
2017-11-08 2017-09-30 13F CANADIAN NATL RY COM 136375102 49,745 0 0.00 4,121 2.21 0.0074
2017-08-14 2017-06-30 13F CANADIAN NATL RY COM 136375102 49,745 0 0.00 4,032 9.62 0.0074
2017-05-15 2017-03-31 13F Canadian Natl Ry COM 136375102 49,745 -3,039 -5.76 3,678 3.37 0.0067
2017-03-30 2016-12-31 13F/A-1 Canadian National Railway COMMON 136375102 52,784 -18,594 -26.05 3,558 -23.78 0.0068
2017-02-15 2016-12-31 13F Canadian National Railway COMMON 136375102 52,784 3,558
2016-11-15 2016-09-30 13F CANADIAN NATIONAL RAILWAY COMMON 136375102 71,378 4,026 5.98 4,668 17.35 0.0090
2016-09-14 2016-06-30 13F/A-1 CANADIAN NATIONAL RAILWAY COMMON 136375102 67,352 8,153 13.77 3,978 7.57 0.0078
2016-08-15 2016-06-30 13F CANADIAN NATIONAL RAILWAY COMMON 136375102 67,352 3,978
2016-05-16 2016-03-31 13F CANADIAN NATIONAL RAILWAY COMMON 136375102 59,199 -93,085 -61.13 3,698 -56.55 0.0075
2016-02-16 2015-12-31 13F CANADIAN NATIONAL RAILWAY COMMON 136375102 152,284 0 0.00 8,510 -1.55 0.0175
2015-11-16 2015-09-30 13F CANADIAN NATIONAL RAILWAY COMMON 136375102 152,284 0 0.00 8,644 -1.71 0.0185
2015-08-21 2015-06-30 13F/A-1 CANADIAN NATIONAL RAILWAY COMMON 136375102 152,284 -9,300 -5.76 8,794 -18.61 0.0174
2015-08-14 2015-06-30 13F CANADIAN NATIONAL RAILWAY COMMON 136375102 152,284 8,794
2015-05-18 2015-03-31 13F CANADIAN NATIONAL RAILWAY COMMON 136375102 161,584 0 0.00 10,805 -2.96 0.0212
2015-02-17 2014-12-31 13F CANADIAN NATIONAL RAILWAY COMMON 136375102 161,584 -8,144 -4.80 11,135 -7.55 0.0230
2014-11-14 2014-09-30 13F CANADIAN NATIONAL RAILWAY COMMON 136375102 169,728 -4,420 -2.54 12,044 6.37 0.0258
2014-08-14 2014-06-30 13F CANADIAN NATIONAL RAILWAY COMMON 136375102 174,148 -12,032 -6.46 11,323 8.18 0.0253
2014-05-15 2014-03-31 13F CANADIAN NATIONAL RAILWAY Common 136375102 186,180 2,010 1.09 10,467 -0.32 0.0181
2014-02-14 2013-12-31 13F CANADIAN NATIONAL RAILWAY Common Stock 136375102 184,170 -27,404 -12.95 10,501 -51.03 0.0188
2013-11-14 2013-09-30 13F CDN NTL RAILWAY Common Stock 136375102 211,574 5,132 2.49 21,443 6.78 0.0419
2013-08-16 2013-06-30 13F/A-1 CDN NTL RAILWAY COMMON 136375102 206,442 206,442 20,081 0.0438
2013-08-14 2013-06-30 13F CDN NTL RAILWAY COMMON 136375102 206,442 20,081 0.0438
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.