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CANADIAN NATIONAL RAILWAY CO. 2024-2025 Proxy Voting Records

Compiled from SEC Form N-PX filings. Page generated 02 October 2026.

40Reported items
473Asset managers
4,755Fund votes
2025-05-02Meeting date

Proxy season: 2023-2024 2024-2025 2025-2026

Explore CANADIAN NATIONAL RAILWAY CO. in the interactive database Compare manager voting policies

How asset managers voted at the CANADIAN NATIONAL RAILWAY CO. 2024-2025 meeting

Each item below shows how the 473 asset managers that disclosed a CANADIAN NATIONAL RAILWAY CO. vote in their SEC Form N-PX filings actually voted. Share totals are the shares those managers' funds voted, summed across every fund they report. These are reported items, not a count of the ballot: fund filings describe one ballot item in different words. Two descriptions are shown as one item only on evidence — the same text (or one cut short of the other), the same director nominee, or a match to the same row of CANADIAN NATIONAL RAILWAY CO.’s own Form 8-K tally — never because they merely read alike. A description that could not be joined that way is listed on its own, so one ballot item can appear more than once.

1. Non-binding advisory resolution (the full text of which is set out on page 15 of the Information Circular) to accept the approach to executive compensation disclosed in the Information Circular.

SECTION 14A SAY-ON-PAY VOTES

Meeting held 2025-05-02; no official results are on file for this meeting.

Combines 9 wordings of this item as funds reported it.

98% fund support · no official result

FOR 98%

The 348 asset managers below cast 98% of the shares they voted on this item FOR (59,696,736 for, 1,180,462 against).

FOR: 59,696,736 (98.0%)AGAINST: 1,180,462 (1.9%)ABSTAIN: 18,406 (0.0%)

Largest asset managers voting on “Non-binding advisory resolution (the full text of which is set out on page 15 of the Information Circular) to ” at CANADIAN NATIONAL RAILWAY CO., 2024-2025
Asset manager	For	Against	Vote
BlackRock	21,182,247	19,192	For
1832 Asset Management L.P.	12,372,929	0	For
JARISLOWSKY, FRASER Ltd	6,116,829	199,137	For
SCOTIA CAPITAL INC.	4,392,723	0	For
JPMorgan	1,877,147	0	For
Goldman Sachs	1,525,538	0	For
HARDING LOEVNER LP	1,192,243	0	For
Bridge Builder Trust	1,105,031	0	For
Northern Trust	1,095,558	0	For
HARDING LOEVNER FUNDS INC	1,067,281	0	For
Manning & Napier	993,541	6,893	For
Cardinal Capital Management, Inc.	708,163	0	For
Value Partners Investments Inc.	552,972	0	For
RIVULET CAPITAL, LLC	483,300	0	For
Korea Investment CORP	0	411,006	Against
AMANA MUTUAL FUNDS TRUST	384,000	0	For
Treasurer of the State of North Carolina	375,510	0	For
AGF MANAGEMENT LTD	325,533	0	For
ENVESTNET ASSET MANAGEMENT INC	253,102	0	For
GW&K Investment Management, LLC	205,695	0	For
Natixis	177,795	0	For
Janney Montgomery Scott LLC	161,321	0	For
COBBLESTONE CAPITAL ADVISORS LLC /NY/	57	149,014	Against
YCG Funds	145,592	0	For
Six Circles Trust	132,878	0	For

Showing the 25 largest of 348 asset managers. See all 348 in the interactive database.

2. ELECTION OF DIRECTOR: SHAUNEEN BRUDER

DIRECTOR ELECTIONS

Meeting held 2025-05-02; no official results are on file for this meeting.

Combines 5 wordings of this item as funds reported it.

99.9% fund support · no official result

FOR 99.9%

The 100 asset managers below cast 99.9% of the shares they voted on this item FOR (70,486,926 for, 51,878 against).

FOR: 70,486,926 (99.9%)AGAINST: 51,878 (0.1%)ABSTAIN: 17,406 (0.0%)

Largest asset managers voting on “ELECTION OF DIRECTOR: SHAUNEEN BRUDER” at CANADIAN NATIONAL RAILWAY CO., 2024-2025
Asset manager	For	Against	Vote
Vanguard	29,281,301	0	For
Capital Group	8,506,916	0	For
MFS	5,346,954	0	For
BlackRock	3,608,706	0	For
T. Rowe Price	2,872,037	0	For
Fidelity	2,560,212	0	For
JPMorgan	1,876,880	0	For
Charles Schwab	1,428,771	0	For
BNY Mellon	1,344,965	0	For
Dimensional	1,235,230	0	For
EUPAC FUND	1,148,740	0	For
Bridge Builder Trust	1,105,031	0	For
TIAA	1,087,366	0	For
HARDING LOEVNER FUNDS INC	1,067,281	0	For
Northern Trust	854,097	35,630	For
Hartford	875,738	0	For
Brighthouse	694,129	0	For
INTERNATIONAL GROWTH & INCOME FUND	574,631	0	For
First Trust	449,180	0	For
AMANA MUTUAL FUNDS TRUST	384,000	0	For
Cohen & Steers	330,702	0	For
New York Life	318,180	0	For
Manning & Napier	297,434	0	For
Partners Group Private Equity (Master Fund), LLC	209,549	0	For
Columbia Threadneedle	201,481	0	For

Showing the 25 largest of 100 asset managers. See all 100 in the interactive database.

3. Election of Director: David Freeman

DIRECTOR ELECTIONS

Meeting held 2025-05-02; no official results are on file for this meeting.

Combines 3 wordings of this item as funds reported it.

100% fund support · no official result

FOR 100%

The 100 asset managers below cast 100% of the shares they voted on this item FOR (70,556,210 for, 0 against).

FOR: 70,556,210 (100.0%)

Largest asset managers voting on “Election of Director: David Freeman” at CANADIAN NATIONAL RAILWAY CO., 2024-2025
Asset manager	For	Vote
Vanguard	29,281,301	For
Capital Group	8,506,916	For
MFS	5,346,954	For
BlackRock	3,608,706	For
T. Rowe Price	2,872,037	For
Fidelity	2,560,212	For
JPMorgan	1,876,880	For
Charles Schwab	1,428,771	For
BNY Mellon	1,344,965	For
Dimensional	1,235,230	For
EUPAC FUND	1,148,740	For
Bridge Builder Trust	1,105,031	For
TIAA	1,087,366	For
HARDING LOEVNER FUNDS INC	1,067,281	For
Northern Trust	889,727	For
Hartford	875,738	For
Brighthouse	694,129	For
INTERNATIONAL GROWTH & INCOME FUND	574,631	For
First Trust	449,180	For
AMANA MUTUAL FUNDS TRUST	384,000	For
Cohen & Steers	330,702	For
New York Life	318,180	For
Manning & Napier	297,434	For
Partners Group Private Equity (Master Fund), LLC	209,549	For
Columbia Threadneedle	201,481	For

Showing the 25 largest of 100 asset managers. See all 100 in the interactive database.

4. Election of Director: Denise Gray

DIRECTOR ELECTIONS

Meeting held 2025-05-02; no official results are on file for this meeting.

Combines 3 wordings of this item as funds reported it.

99.8% fund support · no official result

FOR 99.8%

The 100 asset managers below cast 99.8% of the shares they voted on this item FOR (70,440,876 for, 115,334 against).

FOR: 70,440,876 (99.8%)AGAINST: 115,334 (0.2%)

Largest asset managers voting on “Election of Director: Denise Gray” at CANADIAN NATIONAL RAILWAY CO., 2024-2025
Asset manager	For	Against	Vote
Vanguard	29,281,301	0	For
Capital Group	8,506,916	0	For
MFS	5,346,954	0	For
BlackRock	3,608,706	0	For
T. Rowe Price	2,872,037	0	For
Fidelity	2,560,212	0	For
JPMorgan	1,876,880	0	For
Charles Schwab	1,428,771	0	For
BNY Mellon	1,344,965	0	For
Dimensional	1,235,230	0	For
EUPAC FUND	1,148,740	0	For
Bridge Builder Trust	1,105,031	0	For
TIAA	1,087,366	0	For
HARDING LOEVNER FUNDS INC	1,067,281	0	For
Northern Trust	854,097	35,630	For
Hartford	875,738	0	For
Brighthouse	694,129	0	For
INTERNATIONAL GROWTH & INCOME FUND	574,631	0	For
First Trust	449,180	0	For
AMANA MUTUAL FUNDS TRUST	384,000	0	For
Cohen & Steers	330,702	0	For
New York Life	318,180	0	For
Manning & Napier	297,434	0	For
Partners Group Private Equity (Master Fund), LLC	209,549	0	For
Columbia Threadneedle	201,481	0	For

Showing the 25 largest of 100 asset managers. See all 100 in the interactive database.

5. Election of Director: Jo-ann dePass Olsovsky

DIRECTOR ELECTIONS

Meeting held 2025-05-02; no official results are on file for this meeting.

Combines 4 wordings of this item as funds reported it.

99.9% fund support · no official result

FOR 99.9%

The 100 asset managers below cast 99.9% of the shares they voted on this item FOR (70,538,776 for, 28 against).

FOR: 70,538,776 (100.0%)AGAINST: 28 (0.0%)ABSTAIN: 17,406 (0.0%)

Largest asset managers voting on “Election of Director: Jo-ann dePass Olsovsky” at CANADIAN NATIONAL RAILWAY CO., 2024-2025
Asset manager	For	Vote
Vanguard	29,281,301	For
Capital Group	8,506,916	For
MFS	5,346,954	For
BlackRock	3,608,706	For
T. Rowe Price	2,872,037	For
Fidelity	2,560,212	For
JPMorgan	1,876,880	For
Charles Schwab	1,428,771	For
BNY Mellon	1,344,965	For
Dimensional	1,235,230	For
EUPAC FUND	1,148,740	For
Bridge Builder Trust	1,105,031	For
TIAA	1,087,366	For
HARDING LOEVNER FUNDS INC	1,067,281	For
Northern Trust	889,727	For
Hartford	875,738	For
Brighthouse	694,129	For
INTERNATIONAL GROWTH & INCOME FUND	574,631	For
First Trust	449,180	For
AMANA MUTUAL FUNDS TRUST	384,000	For
Cohen & Steers	330,702	For
New York Life	318,180	For
Manning & Napier	297,434	For
Partners Group Private Equity (Master Fund), LLC	209,549	For
Columbia Threadneedle	201,481	For

Showing the 25 largest of 100 asset managers. See all 100 in the interactive database.

6. ELECTION OF DIRECTOR: JUSTIN M. HOWELL

DIRECTOR ELECTIONS

Meeting held 2025-05-02; no official results are on file for this meeting.

Combines 4 wordings of this item as funds reported it.

99.9% fund support · no official result

FOR 99.9%

The 100 asset managers below cast 99.9% of the shares they voted on this item FOR (70,486,926 for, 69,284 against).

FOR: 70,486,926 (99.9%)AGAINST: 69,284 (0.1%)

Largest asset managers voting on “ELECTION OF DIRECTOR: JUSTIN M. HOWELL” at CANADIAN NATIONAL RAILWAY CO., 2024-2025
Asset manager	For	Against	Vote
Vanguard	29,281,301	0	For
Capital Group	8,506,916	0	For
MFS	5,346,954	0	For
BlackRock	3,608,706	0	For
T. Rowe Price	2,872,037	0	For
Fidelity	2,560,212	0	For
JPMorgan	1,876,880	0	For
Charles Schwab	1,428,771	0	For
BNY Mellon	1,344,965	0	For
Dimensional	1,235,230	0	For
EUPAC FUND	1,148,740	0	For
Bridge Builder Trust	1,105,031	0	For
TIAA	1,087,366	0	For
HARDING LOEVNER FUNDS INC	1,067,281	0	For
Northern Trust	854,097	35,630	For
Hartford	875,738	0	For
Brighthouse	694,129	0	For
INTERNATIONAL GROWTH & INCOME FUND	574,631	0	For
First Trust	449,180	0	For
AMANA MUTUAL FUNDS TRUST	384,000	0	For
Cohen & Steers	330,702	0	For
New York Life	318,180	0	For
Manning & Napier	297,434	0	For
Partners Group Private Equity (Master Fund), LLC	209,549	0	For
Columbia Threadneedle	201,481	0	For

Showing the 25 largest of 100 asset managers. See all 100 in the interactive database.

7. Election of Director: Margaret A. McKenzie

DIRECTOR ELECTIONS

Meeting held 2025-05-02; no official results are on file for this meeting.

Combines 5 wordings of this item as funds reported it.

99.9% fund support · no official result

FOR 99.9%

The 100 asset managers below cast 99.9% of the shares they voted on this item FOR (70,486,954 for, 69,256 against).

FOR: 70,486,954 (99.9%)AGAINST: 69,256 (0.1%)

Largest asset managers voting on “Election of Director: Margaret A. McKenzie” at CANADIAN NATIONAL RAILWAY CO., 2024-2025
Asset manager	For	Against	Vote
Vanguard	29,281,301	0	For
Capital Group	8,506,916	0	For
MFS	5,346,954	0	For
BlackRock	3,608,706	0	For
T. Rowe Price	2,872,037	0	For
Fidelity	2,560,212	0	For
JPMorgan	1,876,880	0	For
Charles Schwab	1,428,771	0	For
BNY Mellon	1,344,965	0	For
Dimensional	1,235,230	0	For
EUPAC FUND	1,148,740	0	For
Bridge Builder Trust	1,105,031	0	For
TIAA	1,087,366	0	For
HARDING LOEVNER FUNDS INC	1,067,281	0	For
Northern Trust	854,097	35,630	For
Hartford	875,738	0	For
Brighthouse	694,129	0	For
INTERNATIONAL GROWTH & INCOME FUND	574,631	0	For
First Trust	449,180	0	For
AMANA MUTUAL FUNDS TRUST	384,000	0	For
Cohen & Steers	330,702	0	For
New York Life	318,180	0	For
Manning & Napier	297,434	0	For
Partners Group Private Equity (Master Fund), LLC	209,549	0	For
Columbia Threadneedle	201,481	0	For

Showing the 25 largest of 100 asset managers. See all 100 in the interactive database.

8. Election of Director: Michel Letellier

DIRECTOR ELECTIONS

Meeting held 2025-05-02; no official results are on file for this meeting.

Combines 3 wordings of this item as funds reported it.

99.3% fund support · no official result

FOR 99.3%

The 100 asset managers below cast 99.3% of the shares they voted on this item FOR (70,102,954 for, 453,256 against).

FOR: 70,102,954 (99.4%)AGAINST: 453,256 (0.6%)

Largest asset managers voting on “Election of Director: Michel Letellier” at CANADIAN NATIONAL RAILWAY CO., 2024-2025
Asset manager	For	Against	Vote
Vanguard	29,281,301	0	For
Capital Group	8,506,916	0	For
MFS	5,346,954	0	For
BlackRock	3,608,706	0	For
T. Rowe Price	2,872,037	0	For
Fidelity	2,560,212	0	For
JPMorgan	1,876,880	0	For
Charles Schwab	1,428,771	0	For
BNY Mellon	1,344,965	0	For
Dimensional	1,235,230	0	For
EUPAC FUND	1,148,740	0	For
Bridge Builder Trust	1,105,031	0	For
TIAA	1,087,366	0	For
HARDING LOEVNER FUNDS INC	1,067,281	0	For
Northern Trust	854,097	35,630	For
Hartford	875,738	0	For
Brighthouse	694,129	0	For
INTERNATIONAL GROWTH & INCOME FUND	574,631	0	For
First Trust	449,180	0	For
AMANA MUTUAL FUNDS TRUST	0	384,000	Against
Cohen & Steers	330,702	0	For
New York Life	318,180	0	For
Manning & Napier	297,434	0	For
Partners Group Private Equity (Master Fund), LLC	209,549	0	For
Columbia Threadneedle	201,481	0	For

Showing the 25 largest of 100 asset managers. See all 100 in the interactive database.

9. Election of Director: Robert Knight

DIRECTOR ELECTIONS

Meeting held 2025-05-02; no official results are on file for this meeting.

Combines 3 wordings of this item as funds reported it.

99.9% fund support · no official result

FOR 99.9%

The 100 asset managers below cast 99.9% of the shares they voted on this item FOR (70,538,776 for, 28 against).

FOR: 70,538,776 (100.0%)AGAINST: 28 (0.0%)ABSTAIN: 17,406 (0.0%)

Largest asset managers voting on “Election of Director: Robert Knight” at CANADIAN NATIONAL RAILWAY CO., 2024-2025
Asset manager	For	Vote
Vanguard	29,281,301	For
Capital Group	8,506,916	For
MFS	5,346,954	For
BlackRock	3,608,706	For
T. Rowe Price	2,872,037	For
Fidelity	2,560,212	For
JPMorgan	1,876,880	For
Charles Schwab	1,428,771	For
BNY Mellon	1,344,965	For
Dimensional	1,235,230	For
EUPAC FUND	1,148,740	For
Bridge Builder Trust	1,105,031	For
TIAA	1,087,366	For
HARDING LOEVNER FUNDS INC	1,067,281	For
Northern Trust	889,727	For
Hartford	875,738	For
Brighthouse	694,129	For
INTERNATIONAL GROWTH & INCOME FUND	574,631	For
First Trust	449,180	For
AMANA MUTUAL FUNDS TRUST	384,000	For
Cohen & Steers	330,702	For
New York Life	318,180	For
Manning & Napier	297,434	For
Partners Group Private Equity (Master Fund), LLC	209,549	For
Columbia Threadneedle	201,481	For

Showing the 25 largest of 100 asset managers. See all 100 in the interactive database.

10. Election of Director: Susan C. Jones

DIRECTOR ELECTIONS

Meeting held 2025-05-02; no official results are on file for this meeting.

Combines 3 wordings of this item as funds reported it.

99.9% fund support · no official result

FOR 99.9%

The 100 asset managers below cast 99.9% of the shares they voted on this item FOR (70,538,804 for, 17,406 against).

FOR: 70,538,804 (100.0%)AGAINST: 17,406 (0.0%)

Largest asset managers voting on “Election of Director: Susan C. Jones” at CANADIAN NATIONAL RAILWAY CO., 2024-2025
Asset manager	For	Vote
Vanguard	29,281,301	For
Capital Group	8,506,916	For
MFS	5,346,954	For
BlackRock	3,608,706	For
T. Rowe Price	2,872,037	For
Fidelity	2,560,212	For
JPMorgan	1,876,880	For
Charles Schwab	1,428,771	For
BNY Mellon	1,344,965	For
Dimensional	1,235,230	For
EUPAC FUND	1,148,740	For
Bridge Builder Trust	1,105,031	For
TIAA	1,087,366	For
HARDING LOEVNER FUNDS INC	1,067,281	For
Northern Trust	889,727	For
Hartford	875,738	For
Brighthouse	694,129	For
INTERNATIONAL GROWTH & INCOME FUND	574,631	For
First Trust	449,180	For
AMANA MUTUAL FUNDS TRUST	384,000	For
Cohen & Steers	330,702	For
New York Life	318,180	For
Manning & Napier	297,434	For
Partners Group Private Equity (Master Fund), LLC	209,549	For
Columbia Threadneedle	201,481	For

Showing the 25 largest of 100 asset managers. See all 100 in the interactive database.

11. Election of Director: Tracy Robinson

DIRECTOR ELECTIONS

Meeting held 2025-05-02; no official results are on file for this meeting.

Combines 3 wordings of this item as funds reported it.

99.9% fund support · no official result

FOR 99.9%

The 100 asset managers below cast 99.9% of the shares they voted on this item FOR (70,538,804 for, 17,406 against).

FOR: 70,538,804 (100.0%)AGAINST: 17,406 (0.0%)

Largest asset managers voting on “Election of Director: Tracy Robinson” at CANADIAN NATIONAL RAILWAY CO., 2024-2025
Asset manager	For	Vote
Vanguard	29,281,301	For
Capital Group	8,506,916	For
MFS	5,346,954	For
BlackRock	3,608,706	For
T. Rowe Price	2,872,037	For
Fidelity	2,560,212	For
JPMorgan	1,876,880	For
Charles Schwab	1,428,771	For
BNY Mellon	1,344,965	For
Dimensional	1,235,230	For
EUPAC FUND	1,148,740	For
Bridge Builder Trust	1,105,031	For
TIAA	1,087,366	For
HARDING LOEVNER FUNDS INC	1,067,281	For
Northern Trust	889,727	For
Hartford	875,738	For
Brighthouse	694,129	For
INTERNATIONAL GROWTH & INCOME FUND	574,631	For
First Trust	449,180	For
AMANA MUTUAL FUNDS TRUST	384,000	For
Cohen & Steers	330,702	For
New York Life	318,180	For
Manning & Napier	297,434	For
Partners Group Private Equity (Master Fund), LLC	209,549	For
Columbia Threadneedle	201,481	For

Showing the 25 largest of 100 asset managers. See all 100 in the interactive database.

12. Election of Director: Al Monaco

DIRECTOR ELECTIONS

Meeting held 2025-05-02; no official results are on file for this meeting.

99.9% fund support · no official result

FOR 99.9%

The 92 asset managers below cast 99.9% of the shares they voted on this item FOR (52,968,805 for, 17,434 against).

FOR: 52,968,805 (100.0%)AGAINST: 17,434 (0.0%)

Largest asset managers voting on “Election of Director: Al Monaco” at CANADIAN NATIONAL RAILWAY CO., 2024-2025
Asset manager	For	Vote
Vanguard	15,028,351	For
Capital Group	8,506,916	For
MFS	5,346,954	For
BlackRock	3,608,706	For
T. Rowe Price	2,872,037	For
Fidelity	2,560,212	For
JPMorgan	1,876,880	For
BNY Mellon	1,344,965	For
Dimensional	1,235,230	For
EUPAC FUND	1,148,740	For
Bridge Builder Trust	1,105,031	For
TIAA	1,087,366	For
HARDING LOEVNER FUNDS INC	1,067,281	For
Northern Trust	889,727	For
INTERNATIONAL GROWTH & INCOME FUND	574,631	For
First Trust	449,180	For
AMANA MUTUAL FUNDS TRUST	384,000	For
Cohen & Steers	330,702	For
New York Life	318,180	For
Manning & Napier	297,434	For
Columbia Threadneedle	201,481	For
State Street	187,583	For
Putnam	160,454	For
American Century	152,887	For
Pacific Life	147,992	For

Showing the 25 largest of 92 asset managers. See all 92 in the interactive database.

13. Advisory Vote on Executive Compensation Approach

COMPENSATION

Meeting held 2025-05-02; no official results are on file for this meeting.

Combines 2 wordings of this item as funds reported it.

97% fund support · no official result

FOR 97%

The 73 asset managers below cast 97% of the shares they voted on this item FOR (56,061,649 for, 1,822,044 against).

FOR: 56,061,649 (96.9%)AGAINST: 1,822,044 (3.1%)ABSTAIN: 810 (0.0%)

Largest asset managers voting on “Advisory Vote on Executive Compensation Approach” at CANADIAN NATIONAL RAILWAY CO., 2024-2025
Asset manager	For	Against	Vote
Vanguard	15,028,351	0	For
Capital Group	8,506,916	0	For
Walter Scott & Partners Ltd	6,839,641	0	For
MFS	5,346,954	0	For
T. Rowe Price	2,872,037	0	For
Fidelity	2,560,212	0	For
Desjardins Global Asset Management Inc.	2,307,540	0	For
JPMorgan	2,092,143	0	For
APG Asset Management US Inc.	0	1,620,563	Against
BNY Mellon	1,344,965	0	For
Dimensional	1,235,230	0	For
EUPAC FUND	1,148,740	0	For
TIAA	1,087,366	0	For
Northern Trust	889,727	0	For
INTERNATIONAL GROWTH & INCOME FUND	574,631	0	For
Dixon Mitchell Investment Counsel Inc.	495,540	0	For
First Trust	412,100	0	For
CIDEL ASSET MANAGEMENT INC	393,080	0	For
Cohen & Steers	330,702	0	For
New York Life	318,180	0	For
MONTRUSCO BOLTON INVESTMENTS INC.	221,717	0	For
Columbia Threadneedle	0	201,481	Against
State Street	187,583	0	For
Putnam	160,454	0	For
American Century	152,887	0	For

Showing the 25 largest of 73 asset managers. See all 73 in the interactive database.

14. Management Advisory Vote on Climate Change

ENVIRONMENT OR CLIMATE

Meeting held 2025-05-02; no official results are on file for this meeting.

97% fund support · no official result

FOR 97%

The 61 asset managers below cast 97% of the shares they voted on this item FOR (42,479,335 for, 1,313,860 against).

FOR: 42,479,335 (97.0%)AGAINST: 1,313,860 (3.0%)

Largest asset managers voting on “Management Advisory Vote on Climate Change” at CANADIAN NATIONAL RAILWAY CO., 2024-2025
Asset manager	For	Against	Vote
Vanguard	15,028,351	0	For
Capital Group	8,506,916	0	For
MFS	5,346,954	0	For
T. Rowe Price	2,872,037	0	For
Fidelity	2,560,212	0	For
BNY Mellon	1,344,965	0	For
Dimensional	0	1,235,230	Against
EUPAC FUND	1,148,740	0	For
TIAA	1,087,366	0	For
Northern Trust	889,727	0	For
INTERNATIONAL GROWTH & INCOME FUND	574,631	0	For
First Trust	412,100	0	For
Cohen & Steers	330,702	0	For
New York Life	318,180	0	For
Columbia Threadneedle	201,481	0	For
State Street	187,583	0	For
Putnam	160,454	0	For
American Century	152,887	0	For
Pacific Life	147,992	0	For
Invesco	123,724	0	For
Franklin Templeton	117,175	0	For
Brighthouse	109,319	0	For
Lincoln Financial	87,453	9,816	For
WisdomTree	83,769	0	For
Goldman Sachs	80,661	0	For

Showing the 25 largest of 61 asset managers. See all 61 in the interactive database.

15. Ratify KPMG LLP as Auditors

AUDIT-RELATED

Meeting held 2025-05-02; no official results are on file for this meeting.

100% fund support · no official result

FOR 100%

The 61 asset managers below cast 100% of the shares they voted on this item FOR (43,793,195 for, 0 against).

FOR: 43,793,195 (100.0%)

Largest asset managers voting on “Ratify KPMG LLP as Auditors” at CANADIAN NATIONAL RAILWAY CO., 2024-2025
Asset manager	For	Vote
Vanguard	15,028,351	For
Capital Group	8,506,916	For
MFS	5,346,954	For
T. Rowe Price	2,872,037	For
Fidelity	2,560,212	For
BNY Mellon	1,344,965	For
Dimensional	1,235,230	For
EUPAC FUND	1,148,740	For
TIAA	1,087,366	For
Northern Trust	889,727	For
INTERNATIONAL GROWTH & INCOME FUND	574,631	For
First Trust	412,100	For
Cohen & Steers	330,702	For
New York Life	318,180	For
Columbia Threadneedle	201,481	For
State Street	187,583	For
Putnam	160,454	For
American Century	152,887	For
Pacific Life	147,992	For
Invesco	123,724	For
Franklin Templeton	117,175	For
Brighthouse	109,319	For
Lincoln Financial	97,269	For
WisdomTree	83,769	For
Goldman Sachs	80,661	For

Showing the 25 largest of 61 asset managers. See all 61 in the interactive database.

16. APPOINTMENT OF KPMG LLP AS AUDITORS.

AUDIT-RELATED

Meeting held 2025-05-02; no official results are on file for this meeting.

Combines 3 wordings of this item as funds reported it.

100% fund support · no official result

FOR 99.9%

The 32 asset managers below cast 100% of the shares they voted on this item FOR (9,170,748 for, 0 against).

FOR: 9,170,748 (100.0%)ABSTAIN: 812 (0.0%)

Largest asset managers voting on “APPOINTMENT OF KPMG LLP AS AUDITORS.” at CANADIAN NATIONAL RAILWAY CO., 2024-2025
Asset manager	For	Vote
BlackRock	3,608,706	For
JPMorgan	1,876,880	For
Bridge Builder Trust	1,105,031	For
HARDING LOEVNER FUNDS INC	1,067,281	For
AMANA MUTUAL FUNDS TRUST	384,000	For
Manning & Napier	297,434	For
YCG Funds	145,592	For
Six Circles Trust	132,878	For
Brown Advisory Funds	96,953	For
BUFFALO FUNDS	93,998	For
RBB FUND, INC.	73,611	For
Jackson National	67,565	For
John Hancock	54,019	For
MASTER INVESTMENT PORTFOLIO	39,139	For
First Trust	37,080	For
Northern Lights Fund Trust IV	17,406	For
TRUST FOR PROFESSIONAL MANAGERS	16,060	For
Lincoln Financial	9,236	For
Tema ETF Trust	8,994	For
Guardian Variable Products Trust	7,427	For
Forethought Variable Insurance Trust	6,680	For
Pacer Funds Trust	5,249	For
Allianz	4,658	For
TIMOTHY PLAN	4,114	For
CULLEN FUNDS TRUST	3,774	For

Showing the 25 largest of 32 asset managers. See all 32 in the interactive database.

17. NON-BINDING ADVISORY RESOLUTION (THE FULL TEXT OF WHICH IS SET OUT ON PAGE 15 OF THE INFORMATION CIRCULAR) TO ACCEPT THE CLIMATE ACTION PLAN AS DISCLOSED IN THE INFORMATION CIRCULAR.

OTHER

Meeting held 2025-05-02; no official results are on file for this meeting.

Combines 3 wordings of this item as funds reported it.

99.8% fund support · no official result

FOR 99.7%

The 32 asset managers below cast 99.8% of the shares they voted on this item FOR (9,144,240 for, 9,914 against).

FOR: 9,144,240 (99.7%)AGAINST: 9,914 (0.1%)ABSTAIN: 17,406 (0.2%)

Largest asset managers voting on “NON-BINDING ADVISORY RESOLUTION (THE FULL TEXT OF WHICH IS SET OUT ON PAGE 15 OF THE INFORMATION CIRCULAR) TO ” at CANADIAN NATIONAL RAILWAY CO., 2024-2025
Asset manager	For	Against	Abstain	Vote
BlackRock	3,608,706	0	0	For
JPMorgan	1,876,880	0	0	For
Bridge Builder Trust	1,105,031	0	0	For
HARDING LOEVNER FUNDS INC	1,067,281	0	0	For
AMANA MUTUAL FUNDS TRUST	384,000	0	0	For
Manning & Napier	297,434	0	0	For
YCG Funds	145,592	0	0	For
Six Circles Trust	132,878	0	0	For
Brown Advisory Funds	96,953	0	0	For
BUFFALO FUNDS	93,998	0	0	For
RBB FUND, INC.	73,611	0	0	For
Jackson National	63,665	3,900	0	For
John Hancock	54,019	0	0	For
MASTER INVESTMENT PORTFOLIO	39,139	0	0	For
First Trust	37,080	0	0	For
Northern Lights Fund Trust IV	0	0	17,406	Abstain
TRUST FOR PROFESSIONAL MANAGERS	16,060	0	0	For
Lincoln Financial	9,236	0	0	For
Tema ETF Trust	8,994	0	0	For
Guardian Variable Products Trust	7,427	0	0	For
Forethought Variable Insurance Trust	6,680	0	0	For
Pacer Funds Trust	5,249	0	0	For
Allianz	2,758	1,900	0	For
TIMOTHY PLAN	0	4,114	0	Against
CULLEN FUNDS TRUST	3,774	0	0	For

Showing the 25 largest of 32 asset managers. See all 32 in the interactive database.

18. Advisory Vote to Ratify Named Executive Officers' Compensation

SECTION 14A SAY-ON-PAY VOTES

Meeting held 2025-05-02; no official results are on file for this meeting.

Combines 2 wordings of this item as funds reported it.

96% fund support · no official result

FOR 96%

The 24 asset managers below cast 96% of the shares they voted on this item FOR (31,401,706 for, 1,367,943 against).

FOR: 31,401,706 (95.8%)AGAINST: 1,367,943 (4.2%)

Largest asset managers voting on “Advisory Vote to Ratify Named Executive Officers' Compensation” at CANADIAN NATIONAL RAILWAY CO., 2024-2025
Asset manager	For	Against	Vote
Vanguard	12,905,873	1,347,077	For
TD ASSET MANAGEMENT INC	11,205,940	0	For
TD Waterhouse Canada Inc.	2,325,907	0	For
Charles Schwab	1,428,771	0	For
Troy Asset Management Ltd	1,392,532	0	For
Hartford	868,277	7,461	For
Brighthouse	582,475	2,335	For
Partners Group Private Equity (Master Fund), LLC	209,549	0	For
Beutel, Goodman & Co Ltd.	110,139	0	For
Russell Investments	105,119	0	For
LOUISBOURG INVESTMENTS INC.	102,419	0	For
Prudential/PGIM	82,192	0	For
Mercer Funds	29,929	0	For
Regime de rentes du Mouvement Desjardins	26,370	0	For
Windmill Hill Asset Management Ltd	21,724	0	For
Union Investment Privatfonds GmbH	0	10,750	Against
Coyle Financial Counsel LLC	2,059	0	For
Empirical Financial Services, LLC d.b.a. Empirical Wealth Ma	858	0	For
Edgemoor Investment Advisors, Inc.	609	0	For
Global X	514	0	For
Genus Capital Management Inc.	0	320	Against
MassMutual	199	0	For
FAYEZ SAROFIM & CO	151	0	For
BEACON INVESTMENT ADVISORY SERVICES, INC.	100	0	For

19. Advisory Vote on Climate Action Plan

ENVIRONMENT OR CLIMATE

Meeting held 2025-05-02; no official results are on file for this meeting.

100% fund support · no official result

FOR 100%

The 10 asset managers below cast 100% of the shares they voted on this item FOR (17,569,771 for, 0 against).

FOR: 17,569,771 (100.0%)

Largest asset managers voting on “Advisory Vote on Climate Action Plan” at CANADIAN NATIONAL RAILWAY CO., 2024-2025
Asset manager	For	Vote
Vanguard	14,252,950	For
Charles Schwab	1,428,771	For
Hartford	875,738	For
Brighthouse	584,810	For
Partners Group Private Equity (Master Fund), LLC	209,549	For
Russell Investments	105,119	For
Prudential/PGIM	82,192	For
Mercer Funds	29,929	For
Global X	514	For
MassMutual	199	For

20. Appointment of Auditor

AUDIT-RELATED

Meeting held 2025-05-02; no official results are on file for this meeting.

93% fund support · no official result

FOR 92%7%

The 10 asset managers below cast 93% of the shares they voted on this item FOR (16,212,898 for, 1,253,467 against).

FOR: 16,212,898 (92.3%)AGAINST: 1,253,467 (7.1%)ABSTAIN: 103,406 (0.6%)

Largest asset managers voting on “Appointment of Auditor” at CANADIAN NATIONAL RAILWAY CO., 2024-2025
Asset manager	For	Against	Abstain	Vote
Vanguard	12,905,873	1,253,467	93,610	For
Charles Schwab	1,428,771	0	0	For
Hartford	868,277	0	7,461	For
Brighthouse	582,475	0	2,335	For
Partners Group Private Equity (Master Fund), LLC	209,549	0	0	For
Russell Investments	105,119	0	0	For
Prudential/PGIM	82,192	0	0	For
Mercer Funds	29,929	0	0	For
Global X	514	0	0	For
MassMutual	199	0	0	For

21. Elect Al Monaco

DIRECTOR ELECTIONS

Meeting held 2025-05-02; no official results are on file for this meeting.

100% fund support · no official result

FOR 100%

The 10 asset managers below cast 100% of the shares they voted on this item FOR (17,569,771 for, 0 against).

FOR: 17,569,771 (100.0%)

Largest asset managers voting on “Elect Al Monaco” at CANADIAN NATIONAL RAILWAY CO., 2024-2025
Asset manager	For	Vote
Vanguard	14,252,950	For
Charles Schwab	1,428,771	For
Hartford	875,738	For
Brighthouse	584,810	For
Partners Group Private Equity (Master Fund), LLC	209,549	For
Russell Investments	105,119	For
Prudential/PGIM	82,192	For
Mercer Funds	29,929	For
Global X	514	For
MassMutual	199	For

22. 14A Executive Compensation

SECTION 14A SAY-ON-PAY VOTES

Meeting held 2025-05-02; no official results are on file for this meeting.

13% fund support · no official result

12%AGAINST 85%

The 10 asset managers below cast 13% of the shares they voted on this item FOR (20,100 for, 138,908 against).

FOR: 20,100 (12.3%)AGAINST: 138,908 (85.3%)NO VOTE: 3,694 (2.3%)NOT VOTED: 103 (0.1%)

Largest asset managers voting on “14A Executive Compensation” at CANADIAN NATIONAL RAILWAY CO., 2024-2025
Asset manager	For	Against	Vote
Vancity Investment Management Ltd	0	136,243	Against
Claret Asset Management Corp	14,743	0	For
Focus Partners Wealth	1,029	2,665	No Vote
MQS Management LLC	2,916	0	For
MATTERN CAPITAL MANAGEMENT, LLC	1,074	0	For
River Street Advisors LLC	175	0	For
EAGLE GLOBAL ADVISORS LLC	152	0	For
LEAVELL INVESTMENT MANAGEMENT, INC.	0	0	Not Voted
Inlet Private Wealth, LLC	11	0	For
ESL Trust Services, LLC	0	0	--

23. Non-binding advisory resolution (the full text of which is set out on page 15 of the management proxy circular) to accept the approach to executive compensation disclosed in the management proxy circular.

SECTION 14A SAY-ON-PAY VOTES

Reported under meeting date 2024-04-26; no official results on file for that date (outside the 2024-2025 season's 1 July to 30 June window; reported in this season's filings).

100% fund support · no official result

FOR 100%

The 6 asset managers below cast 100% of the shares they voted on this item FOR (20,731 for, 0 against).

FOR: 20,731 (100.0%)

Largest asset managers voting on “Non-binding advisory resolution (the full text of which is set out on page 15 of the management proxy circular” at CANADIAN NATIONAL RAILWAY CO., 2024-2025
Asset manager	For	Vote
DIVIDEND ASSETS CAPITAL, LLC	17,924	For
Sky Investment Group LLC	1,480	For
Ipswich Investment Management Co., Inc.	1,000	For
COLDSTREAM CAPITAL MANAGEMENT INC	220	For
VAUGHAN DAVID INVESTMENTS LLC/IL	107	For
Echo45 Advisors LLC	0	--

24. Non-binding Advisory Vote on Executive Compensation

SECTION 14A SAY-ON-PAY VOTES

Meeting held 2025-05-02; no official results are on file for this meeting.

Combines 2 wordings of this item as funds reported it.

99.5% fund support · no official result

FOR 99.5%

The 5 asset managers below cast 99.5% of the shares they voted on this item FOR (5,450,549 for, 22,879 against).

FOR: 5,450,549 (99.6%)AGAINST: 22,879 (0.4%)

Largest asset managers voting on “Non-binding Advisory Vote on Executive Compensation” at CANADIAN NATIONAL RAILWAY CO., 2024-2025
Asset manager	For	Against	Vote
Fiera Capital Corp	5,096,371	0	For
Coleford Investment Management Ltd.	155,896	0	For
First Long Island Investors, LLC	148,479	0	For
Gold Investment Management Ltd.	49,803	0	For
Lorne Steinberg Wealth Management Inc.	0	22,879	Against

25. Non-binding advisory resolution to accept the approach to executive compensation disclosed in the Information Circular

SECTION 14A SAY-ON-PAY VOTES

Meeting held 2025-05-02; no official results are on file for this meeting.

Combines 3 wordings of this item as funds reported it.

100% fund support · no official result

FOR 100%

The 4 asset managers below cast 100% of the shares they voted on this item FOR (235,972 for, 0 against).

FOR: 235,972 (100.0%)

Largest asset managers voting on “Non-binding advisory resolution to accept the approach to executive compensation disclosed in the Information ” at CANADIAN NATIONAL RAILWAY CO., 2024-2025
Asset manager	For	Vote
Rempart Asset Management Inc.	190,106	For
Summerhill Capital Management lnc.	44,990	For
Belfer Management LLC	876	For
Heronetta Management, L.P.	0	--

26. Ratify Appointment of Independent Auditors

AUDIT-RELATED

Meeting held 2025-05-02; no official results are on file for this meeting.

Combines 2 wordings of this item as funds reported it.

100% fund support · no official result

FOR 100%

The 2 asset managers below cast 100% of the shares they voted on this item FOR (200 for, 0 against).

FOR: 200 (100.0%)

Largest asset managers voting on “Ratify Appointment of Independent Auditors” at CANADIAN NATIONAL RAILWAY CO., 2024-2025
Asset manager	For	Against	Abstain	Withheld	Vote
MARCO INVESTMENT MANAGEMENT LLC	200	0	0	0	For
ESL Trust Services, LLC	0	0	0	0	--

Showing the 26 reported items with the widest manager coverage, of 40 in total. View every item.

Largest CANADIAN NATIONAL RAILWAY CO. shareholders voting in 2024-2025

Ranked by the number of CANADIAN NATIONAL RAILWAY CO. shares each manager voted on the most widely held ballot item of the 2024-2025 meeting, shown as a share of the 627,900,000 shares outstanding at the time of that meeting.

Top CANADIAN NATIONAL RAILWAY CO. shareholders by shares voted, 2024-2025
#	Asset manager	% of shares outstanding
1	BlackRock	3.38%
2	1832 Asset Management L.P.	1.97%
3	JARISLOWSKY, FRASER Ltd	1.01%
4	SCOTIA CAPITAL INC.	0.70%
5	JPMorgan	0.30%
6	Goldman Sachs	0.24%
7	HARDING LOEVNER LP	0.19%
8	Bridge Builder Trust	0.18%
9	Northern Trust	0.17%
10	HARDING LOEVNER FUNDS INC	0.17%

Reported CANADIAN NATIONAL RAILWAY CO. ownership

Positions disclosed to the SEC on Schedules 13D and 13G, Form 13F and the company’s own proxy statement (DEF 14A).

CANADIAN NATIONAL RAILWAY CO. beneficial owners on record for the 2024-2025 proxy season
Holder	% outstanding	Disclosure
Vanguard Group	3.69%	13F
Wellington Management	2.57%	13F
BNY Mellon	1.93%	13F
Capital International	1.84%	13F
T. Rowe Price	1.06%	13F
Norges Bank	0.97%	13F
Geode Capital	0.59%	13F
Morgan Stanley	0.46%	13F
JPMorgan Chase	0.42%	13F
Goldman Sachs	0.42%	13F

Percentages above are of 627,900,000 shares outstanding, as reported by CANADIAN NATIONAL RAILWAY CO. on its Form 6-K dated 2024-12-31 (see the filing on EDGAR). This is the count contemporaneous with the 2024-2025 meeting, so the percentages are the ones that were true then, not ones restated against today’s share count.

About this page

Every figure above is derived from filings made with the US Securities and Exchange Commission: Form N-PX, in which registered investment companies and institutional managers disclose how they voted every proxy, and Form 8-K Item 5.07, in which the company reports its own meeting results. Shares outstanding are taken from CANADIAN NATIONAL RAILWAY CO.’s 6-K dated 2024-12-31. This page is a static snapshot rebuilt weekly on 02 October 2026; a live search always shows the current data.

At CANADIAN NATIONAL RAILWAY CO.'s shareholder meeting held 2025-05-02, in the 2024-2025 proxy season, 473 asset managers reported how they voted in their SEC Form N-PX filings, covering 4,755 separate fund positions. Their filings are grouped here into 40 reported items; because filers word the same ballot item differently, that can be more than the number of items on the ballot. No official Form 8-K vote tally has been matched to this meeting, so this page states no certified outcome for its most widely held ballot item. On that item — Non-binding advisory resolution (the full text of which is set out on page 15 of the… — the reporting funds cast 98% of the shares they voted in favour (FOR divided by FOR plus AGAINST, the conventional basis for proxy support; abstentions, broker non-votes and unvoted shares are excluded because none of them took a side). That is the aggregate of those managers' own N-PX disclosures, not the company's certified result, and the funds are a subset of all shareholders.

CANADIAN NATIONAL RAILWAY CO. proxy season coverage: 2023-2024 · 2024-2025 (this page) · 2025-2026.