GATES FOUNDATION TRUST: CANADIAN NATL RY CO (CNI): Quarterly 13F Position History
As of Q1 2026, GATES FOUNDATION TRUST reported 51,826,786 shares of CANADIAN NATL RY CO (CNI), worth $5.3B and representing 16.8% of its 13F equity book. The position first appeared in Q1 2016 and has been disclosed across 41 13F-HR filings in Pactolio's tracked window.
- 51,826,786Shares Held (Latest Filing)
- $5.3BReported Market Value (Latest Filing)
- 16.8%Portfolio Weight (% of 13F Equity Book)
- 0Quarter-over-Quarter Share Change
- +$203.2MQuarter-over-Quarter Value Change
- 54,826,786Peak Reported Shares (Historical)
Quarterly 13F-HR Disclosure History Source: SEC 13F-HR filings, 41 quarter s
| Quarter | Shares | QoQ Share Change | Share Change (%) | Market Value | Weight | Implied Price |
|---|---|---|---|---|---|---|
| Q1 2026 | 51,826,786 | 0 | — | $5.3B | 16.8% | $102.8 |
| Q4 2025 | 51,826,786 | 0 | — | $5.1B | 14.5% | $98.8 |
| Q3 2025 | 51,826,786 | 3,000,000 | -5.5% | $4.9B | 13.4% | $94.3 |
| Q2 2025 | 54,826,786 | 0 | — | $5.7B | 11.9% | $104.0 |
| Q1 2025 | 54,826,786 | 0 | — | $5.3B | 12.8% | $97.5 |
| Q4 2024 | 54,826,786 | 0 | — | $5.6B | 13.2% | $101.5 |
| Q3 2024 | 54,826,786 | 0 | — | $6.4B | 14.2% | $117.2 |
| Q2 2024 | 54,826,786 | 0 | — | $6.5B | 13.6% | $118.1 |
| Q1 2024 | 54,826,786 | 0 | — | $7.2B | 15.7% | $131.7 |
| Q4 2023 | 54,826,786 | 0 | — | $6.9B | 16.3% | $125.6 |
| Q3 2023 | 54,826,786 | 0 | — | $5.9B | 15.3% | $108.3 |
| Q2 2023 | 54,826,786 | 0 | — | $6.6B | 15.8% | $121.1 |
| Q1 2023 | 54,826,786 | 0 | — | $6.5B | 17.7% | $118.0 |
| Q4 2022 | 54,826,786 | 0 | — | $6.5B | 18.2% | $118.9 |
| Q3 2022 | 54,826,786 | +44,548,156 | +433.4% | $5.9B | 17.4% | $108.0 |
| Q2 2022 | 10,278,630 | 2,787,539 | -21.3% | $1.2B | 6.5% | $112.5 |
| Q1 2022 | 13,066,169 | 0 | — | $1.8B | 8.9% | $134.2 |
| Q4 2021 | 13,066,169 | 0 | — | $1.6B | 7.0% | $122.9 |
| Q3 2021 | 13,066,169 | 841,114 | -6.0% | $1.5B | 6.5% | $115.7 |
| Q2 2021 | 13,907,283 | 0 | — | $1.5B | 6.2% | $105.5 |
| Q1 2021 | 13,907,283 | 3,071,985 | -18.1% | $1.6B | 7.7% | $116.0 |
| Q4 2020 | 16,979,268 | 147,606 | -0.9% | $1.9B | 8.4% | $109.8 |
| Q3 2020 | 17,126,874 | 0 | — | $1.8B | 8.3% | $106.5 |
| Q2 2020 | 17,126,874 | 0 | — | $1.5B | 8.5% | $88.6 |
| Q1 2020 | 17,126,874 | 0 | — | $1.3B | 7.7% | $77.6 |
| Q4 2019 | 17,126,874 | 0 | — | $1.5B | 7.3% | $90.5 |
| Q3 2019 | 17,126,874 | 0 | — | $1.5B | 7.3% | $89.9 |
| Q2 2019 | 17,126,874 | 0 | — | $1.6B | 8.0% | $92.5 |
| Q1 2019 | 17,126,874 | 0 | — | $1.5B | 7.3% | $89.5 |
| Q4 2018 | 17,126,874 | 0 | — | $1.3B | 5.8% | $74.1 |
| Q3 2018 | 17,126,874 | 0 | — | $1.5B | 6.0% | $89.8 |
| Q2 2018 | 17,126,874 | 0 | — | $1.4B | 6.3% | $81.8 |
| Q1 2018 | 17,126,874 | 0 | — | $1.3B | 5.1% | $73.1 |
| Q4 2017 | 17,126,874 | 0 | — | $1.4B | 5.3% | $82.5 |
| Q3 2017 | 17,126,874 | 0 | — | $1.4B | 5.5% | $82.8 |
| Q2 2017 | 17,126,874 | 0 | — | $1.4B | 6.0% | $81.0 |
| Q1 2017 | 17,126,874 | 0 | — | $1.3B | 6.7% | $73.9 |
| Q4 2016 | 17,126,874 | 0 | — | $1.2B | 6.1% | $67.4 |
| Q3 2016 | 17,126,874 | 0 | — | $1.1B | 6.1% | $65.4 |
| Q2 2016 | 17,126,874 | 0 | — | $1.0B | 6.0% | $59.1 |
| Q1 2016 | 17,126,874 | — | — | $1.1B | 6.2% | $62.5 |
Methodology & FAQ
How This Position History Is Sourced
Each row is one SEC Form 13F-HR filing disclosing this position. Share count, market value, and reported quarter are taken verbatim from the filing; portfolio weight is recomputed against the same filing's total reported equity book. Implied price-per-share is market value divided by shares — a quarter-end mark, not the manager's cost basis. See the full methodology document for the normalization rules.
When did GATES FOUNDATION TRUST first disclose a CNI position in 13F-HR filings?
GATES FOUNDATION TRUST first reported CANADIAN NATL RY CO (CNI) on its 13F-HR filing for the period ending 2016-03-31 (Q1 2016). The position has appeared on 41 reported quarters within Pactolio's tracked window.
What was GATES FOUNDATION TRUST's most recent quarter-over-quarter share-count change in CNI?
GATES FOUNDATION TRUST held the same 51,826,786 shares of CNI between Q4 2025 and Q1 2026 — the reported share count was unchanged quarter-over-quarter.
Does the implied price-per-share represent GATES FOUNDATION TRUST's cost basis in CNI?
No. The implied price-per-share column is the 13F-HR reported market value divided by reported share count on the filing date (end of quarter). It is a quarter-end mark, not a cost basis or transaction price. Use it as a sanity check on the value column, not as an indicator of the manager's entry or exit price.