Canadian National Railway Ownership

Who are the major shareholders and have insiders been buying or selling?

Recent Insider Transactions

DB:CY2 Recent Insider Transactions by Companies or Individuals
Date	Value	Name	Entity	Shares	Max Price
29 Apr 25	Sell€143,471,645	TCI Fund Management Limited	Company	1,200,634	€119.50
03 Apr 25	Buy€60,691,465	TCI Fund Management Limited	Company	468,354	€129.58
26 Mar 25	Buy€59,353	Shauneen Bruder	Individual	645	€92.02
12 Mar 25	Buy€78,229	Michel Letellier	Individual	880	€88.91
03 Feb 25	Buy€135,023	Margaret McKenzie	Individual	1,400	€96.45
23 Dec 24	Buy€58,964	Shauneen Bruder	Individual	608	€96.98
20 Nov 24	Buy€331,638	Tracy Robinson	Individual	3,300	€100.50
06 Nov 24	Buy€186,831	Josephine Ann dePass Olsovsky	Individual	1,786	€104.61
01 Nov 24	Sell€483,315,133	TCI Fund Management Limited	Company	4,514,808	€107.05
30 Oct 24	Buy€161,563	Margaret McKenzie	Individual	1,600	€100.98
24 Oct 24	Buy€102,356	David Freeman	Individual	1,000	€102.36
25 Sep 24	Buy€56,940	Shauneen Bruder	Individual	543	€104.86
17 Sep 24	Buy€131,901	Susan Jones	Individual	1,230	€107.24
13 Sep 24	Buy€668,552	Al Monaco	Individual	6,200	€107.83
26 Jul 24	Buy€461,037	Josephine Ann dePass Olsovsky	Individual	4,351	€106.19
25 Jun 24	Buy€59,630	Shauneen Bruder	Individual	544	€109.61

Insider Trading Volume

Insider Buying: CY2 insiders have bought more shares than they have sold in the past 3 months.

Ownership Breakdown

What is the ownership structure of CY2?
Owner Type	Number of Shares	Ownership Percentage
State or Government	634,225	0.101%
Individual Insiders	16,427,397	2.62%
General Public	168,998,811	26.9%
Institutions	441,439,567	70.3%

Dilution of Shares: Shareholders have not been meaningfully diluted in the past year.

Top Shareholders

Top 25 shareholders own 49.94% of the company

Ownership	Name	Shares	Current Value	Change %	Portfolio %
8.74%	Bill & Melinda Gates Foundation Trust	54,826,786	€4.9b	0%	12.06%
4.17%	TCI Fund Management Limited	26,166,798	€2.3b	-11.9%	4.55%
3.66%	The Vanguard Group, Inc.	22,986,678	€2.1b	0.44%	0.03%
2.79%	Wellington Management Group LLP	17,476,898	€1.6b	-5.85%	0.29%
2.57%	Melinda Gates	16,145,309	€1.4b	59.1%	no data
2.46%	RBC Global Asset Management Inc.	15,458,281	€1.4b	9.25%	0.95%
2.45%	BMO Asset Management Corp.	15,346,289	€1.4b	-2.45%	0.61%
2.02%	Capital Research and Management Company	12,696,038	€1.1b	10.8%	0.06%
1.99%	Caisse de dépôt et placement du Québec	12,496,600	€1.1b	0%	1.22%
1.93%	Massachusetts Financial Services Company	12,121,917	€1.1b	0.2%	0.27%
1.88%	TD Asset Management, Inc.	11,768,500	€1.1b	2.7%	0.86%
1.69%	1832 Asset Management L.P.	10,607,365	€949.8m	3.37%	1.44%
1.55%	RBC Dominion Securities Inc., Asset Management Arm	9,696,955	€868.2m	4.44%	1.1%
1.46%	Jarislowsky, Fraser Limited	9,159,075	€820.1m	4.83%	4.54%
1.35%	Walter Scott & Partners Limited	8,451,208	€756.7m	-3.34%	2.03%
1.29%	Mackenzie Financial Corporation	8,066,218	€722.2m	-9.76%	0.85%
1.24%	National Bank Investments Inc.	7,757,997	€694.6m	15.2%	0.98%
0.91%	Deutsche Asset & Wealth Management	5,688,331	€509.3m	5.88%	0.16%
0.9%	Fiera Capital Corporation	5,624,594	€503.6m	2.59%	1.34%
0.88%	Norges Bank Investment Management	5,551,563	€497.1m	-6.56%	0.04%
0.87%	T. Rowe Price Group, Inc.	5,489,874	€491.6m	33.6%	0.05%
0.85%	Canadian Imperial Bank of Commerce, Asset Management Arm	5,329,751	€477.2m	-5.12%	1.21%
0.82%	CIBC Asset Management Inc.	5,119,674	€458.4m	12.6%	0.97%
0.77%	Arrowstreet Capital, Limited Partnership	4,814,469	€431.1m	29.7%	0.37%
0.72%	Legal & General Investment Management Limited	4,529,315	€405.5m	-4.06%	0.1%

Company Analysis and Financial Data Status

Data	Last Updated (UTC time)
Company Analysis	2025/05/05 03:48
End of Day Share Price	2025/05/05 00:00
Earnings	2025/03/31
Annual Earnings	2024/12/31

Data Sources

The data used in our company analysis is from S&P Global Market Intelligence LLC. The following data is used in our analysis model to generate this report. Data is normalised which can introduce a delay from the source being available.

Package	Data	Timeframe	Example US Source ^*
Company Financials	10 years	Income statement Cash flow statement Balance sheet	SEC Form 10-K SEC Form 10-Q
Analyst Consensus Estimates	+3 years	Forecast financials Analyst price targets	Analyst Research Reports Blue Matrix
Market Prices	30 years	Stock prices Dividends, Splits and Actions	ICE Market Data SEC Form S-1
Ownership	10 years	Top shareholders Insider trading	SEC Form 4 SEC Form 13D
Management	10 years	Leadership team Board of directors	SEC Form 10-K SEC Form DEF 14A
Key Developments	10 years	Company announcements	SEC Form 8-K

^* Example for US securities, for non-US equivalent regulatory forms and sources are used.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more.

Analysis Model and Snowflake

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Learn about the world class team who designed and built the Simply Wall St analysis model.

Industry and Sector Metrics

Our industry and section metrics are calculated every 6 hours by Simply Wall St, details of our process are available on Github.

Analyst Sources

Canadian National Railway Company is covered by 56 analysts. 27 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.

Analyst	Institution
Will Chien	Accountability Research Corporation
John Eade	Argus Research Company
Christopher Murray	ATB Capital Markets