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Canadian National Railway Company 2025-2026 Proxy Voting Records

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

41Reported items
499Asset managers
4,566Fund votes
2026-05-01Meeting date

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

Explore Canadian National Railway Company in the interactive database Compare manager voting policies

How asset managers voted at the Canadian National Railway Company 2025-2026 meeting

Each item below shows how the 499 asset managers that disclosed a Canadian National Railway Company 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 Company’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

Combines 5 wordings of this item as funds reported it.

90% fund support · no official result

FOR 90%10%

The 347 asset managers below cast 90% of the shares they voted on this item FOR (56,688,344 for, 6,579,473 against).

FOR: 56,688,344 (89.6%)AGAINST: 6,579,473 (10.4%)

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 Company, 2025-2026
Asset manager	For	Against	Vote
BlackRock	21,729,280	90	For
1832 Asset Management L.P.	11,225,816	6,042,680	For
Fiera Capital Corp	5,969,178	0	For
SCOTIA CAPITAL INC.	5,286,542	0	For
JPMorgan	1,493,837	0	For
HARDING LOEVNER LP	1,407,287	0	For
HARDING LOEVNER FUNDS INC	1,244,054	0	For
Cardinal Capital Management, Inc.	1,090,783	0	For
Bridge Builder Trust	963,254	0	For
Northern Trust	723,079	0	For
Value Partners Investments Inc.	605,661	0	For
Foyston, Gordon & Payne Inc	438,902	0	For
AMANA MUTUAL FUNDS TRUST	400,000	0	For
Natixis	258,670	0	For
Edward D. Jones & Co., L.P.	224,793	0	For
Ninepoint Partners LP	188,973	0	For
AGF MANAGEMENT LTD	177,641	0	For
NATIONAL BANK INVESTMENTS INC.	171,793	0	For
CAPTRUST FINANCIAL ADVISORS	159,745	0	For
ENVESTNET ASSET MANAGEMENT INC	151,113	0	For
Coleford Investment Management Ltd.	150,096	0	For
Vancity Investment Management Ltd	0	122,966	Against
ROCKEFELLER FINANCIAL LLC	114,432	0	For
YCG Mutual Funds	112,430	0	For
PINNACLE ASSOCIATES LTD	105,441	0	For

Showing the 25 largest of 347 asset managers. See all 347 in the interactive database.

2. Election of Director: Shauneen Bruder

DIRECTOR ELECTIONS

Combines 5 wordings of this item as funds reported it.

94% fund support · no official result

FOR 94%

The 112 asset managers below cast 94% of the shares they voted on this item FOR (53,583,932 for, 3,239,352 against).

FOR: 53,583,932 (94.3%)AGAINST: 3,239,352 (5.7%)

Largest asset managers voting on “Election of Director: Shauneen Bruder” at Canadian National Railway Company, 2025-2026
Asset manager	For	Against	Vote
Vanguard	24,490,660	0	For
Lazard	5,229,759	0	For
Fidelity	4,859,198	237,616	For
BlackRock	3,240,126	0	For
T. Rowe Price	0	2,909,667	Against
Charles Schwab	1,599,904	0	For
JPMorgan	1,417,732	0	For
TIAA	1,286,558	0	For
HARDING LOEVNER FUNDS INC	1,244,054	0	For
Bridge Builder Trust	1,021,595	0	For
State Street	945,327	0	For
MFS	865,116	0	For
Dimensional	677,492	0	For
AQR	508,731	0	For
Capital Group	507,313	0	For
Dixon Mitchell Investment Counsel Inc.	443,778	0	For
AMANA MUTUAL FUNDS TRUST	400,000	0	For
American Century	345,313	0	For
First Trust	332,834	0	For
NYLI CBRE Global Infrastructure Megatrends Term Fund	326,000	0	For
Invesco	231,921	0	For
Northern Trust	201,007	30,435	For
Transamerica	222,466	0	For
Hartford	217,222	0	For
Principal	181,792	0	For

Showing the 25 largest of 112 asset managers. See all 112 in the interactive database.

3. Election of Director: David Freeman

DIRECTOR ELECTIONS

Combines 4 wordings of this item as funds reported it.

100% fund support · no official result

FOR 100%

The 112 asset managers below cast 100% of the shares they voted on this item FOR (56,823,284 for, 0 against).

FOR: 56,823,284 (100.0%)

Largest asset managers voting on “Election of Director: David Freeman” at Canadian National Railway Company, 2025-2026
Asset manager	For	Vote
Vanguard	24,490,660	For
Lazard	5,229,759	For
Fidelity	5,096,814	For
BlackRock	3,240,126	For
T. Rowe Price	2,909,667	For
Charles Schwab	1,599,904	For
JPMorgan	1,417,732	For
TIAA	1,286,558	For
HARDING LOEVNER FUNDS INC	1,244,054	For
Bridge Builder Trust	1,021,595	For
State Street	945,327	For
MFS	865,116	For
Dimensional	677,492	For
AQR	508,731	For
Capital Group	507,313	For
Dixon Mitchell Investment Counsel Inc.	443,778	For
AMANA MUTUAL FUNDS TRUST	400,000	For
American Century	345,313	For
First Trust	332,834	For
NYLI CBRE Global Infrastructure Megatrends Term Fund	326,000	For
Invesco	231,921	For
Northern Trust	231,442	For
Transamerica	222,466	For
Hartford	217,222	For
Principal	181,792	For

Showing the 25 largest of 112 asset managers. See all 112 in the interactive database.

4. Election of Director: Denise Gray

DIRECTOR ELECTIONS

Combines 4 wordings of this item as funds reported it.

94% fund support · no official result

FOR 94%

The 112 asset managers below cast 94% of the shares they voted on this item FOR (53,583,932 for, 3,239,352 against).

FOR: 53,583,932 (94.3%)AGAINST: 3,239,352 (5.7%)

Largest asset managers voting on “Election of Director: Denise Gray” at Canadian National Railway Company, 2025-2026
Asset manager	For	Against	Vote
Vanguard	24,490,660	0	For
Lazard	5,229,759	0	For
Fidelity	4,859,198	237,616	For
BlackRock	3,240,126	0	For
T. Rowe Price	0	2,909,667	Against
Charles Schwab	1,599,904	0	For
JPMorgan	1,417,732	0	For
TIAA	1,286,558	0	For
HARDING LOEVNER FUNDS INC	1,244,054	0	For
Bridge Builder Trust	1,021,595	0	For
State Street	945,327	0	For
MFS	865,116	0	For
Dimensional	677,492	0	For
AQR	508,731	0	For
Capital Group	507,313	0	For
Dixon Mitchell Investment Counsel Inc.	443,778	0	For
AMANA MUTUAL FUNDS TRUST	400,000	0	For
American Century	345,313	0	For
First Trust	332,834	0	For
NYLI CBRE Global Infrastructure Megatrends Term Fund	326,000	0	For
Invesco	231,921	0	For
Northern Trust	201,007	30,435	For
Transamerica	222,466	0	For
Hartford	217,222	0	For
Principal	181,792	0	For

Showing the 25 largest of 112 asset managers. See all 112 in the interactive database.

5. Election of Director: Jo-ann dePass Olsovsky

DIRECTOR ELECTIONS

Combines 5 wordings of this item as funds reported it.

94% fund support · no official result

FOR 94%

The 112 asset managers below cast 94% of the shares they voted on this item FOR (53,630,721 for, 3,192,563 against).

FOR: 53,630,721 (94.4%)AGAINST: 3,192,563 (5.6%)

Largest asset managers voting on “Election of Director: Jo-ann dePass Olsovsky” at Canadian National Railway Company, 2025-2026
Asset manager	For	Against	Vote
Vanguard	24,490,660	0	For
Lazard	5,229,759	0	For
Fidelity	4,859,198	237,616	For
BlackRock	3,240,126	0	For
T. Rowe Price	0	2,909,667	Against
Charles Schwab	1,599,904	0	For
JPMorgan	1,417,732	0	For
TIAA	1,286,558	0	For
HARDING LOEVNER FUNDS INC	1,244,054	0	For
Bridge Builder Trust	1,021,595	0	For
State Street	945,327	0	For
MFS	865,116	0	For
Dimensional	677,492	0	For
AQR	508,731	0	For
Capital Group	507,313	0	For
Dixon Mitchell Investment Counsel Inc.	443,778	0	For
AMANA MUTUAL FUNDS TRUST	400,000	0	For
American Century	345,313	0	For
First Trust	332,834	0	For
NYLI CBRE Global Infrastructure Megatrends Term Fund	326,000	0	For
Invesco	231,921	0	For
Northern Trust	231,442	0	For
Transamerica	222,466	0	For
Hartford	217,222	0	For
Principal	181,792	0	For

Showing the 25 largest of 112 asset managers. See all 112 in the interactive database.

6. Election of Director: Justin M. Howell

DIRECTOR ELECTIONS

Combines 4 wordings of this item as funds reported it.

94% fund support · no official result

FOR 94%

The 112 asset managers below cast 94% of the shares they voted on this item FOR (53,583,932 for, 3,239,352 against).

FOR: 53,583,932 (94.3%)AGAINST: 3,239,352 (5.7%)

Largest asset managers voting on “Election of Director: Justin M. Howell” at Canadian National Railway Company, 2025-2026
Asset manager	For	Against	Vote
Vanguard	24,490,660	0	For
Lazard	5,229,759	0	For
Fidelity	4,859,198	237,616	For
BlackRock	3,240,126	0	For
T. Rowe Price	0	2,909,667	Against
Charles Schwab	1,599,904	0	For
JPMorgan	1,417,732	0	For
TIAA	1,286,558	0	For
HARDING LOEVNER FUNDS INC	1,244,054	0	For
Bridge Builder Trust	1,021,595	0	For
State Street	945,327	0	For
MFS	865,116	0	For
Dimensional	677,492	0	For
AQR	508,731	0	For
Capital Group	507,313	0	For
Dixon Mitchell Investment Counsel Inc.	443,778	0	For
AMANA MUTUAL FUNDS TRUST	400,000	0	For
American Century	345,313	0	For
First Trust	332,834	0	For
NYLI CBRE Global Infrastructure Megatrends Term Fund	326,000	0	For
Invesco	231,921	0	For
Northern Trust	201,007	30,435	For
Transamerica	222,466	0	For
Hartford	217,222	0	For
Principal	181,792	0	For

Showing the 25 largest of 112 asset managers. See all 112 in the interactive database.

7. Election of Director: Madeleine Paquin

DIRECTOR ELECTIONS

Combines 4 wordings of this item as funds reported it.

100% fund support · no official result

FOR 100%

The 112 asset managers below cast 100% of the shares they voted on this item FOR (56,823,284 for, 0 against).

FOR: 56,823,284 (100.0%)

Largest asset managers voting on “Election of Director: Madeleine Paquin” at Canadian National Railway Company, 2025-2026
Asset manager	For	Vote
Vanguard	24,490,660	For
Lazard	5,229,759	For
Fidelity	5,096,814	For
BlackRock	3,240,126	For
T. Rowe Price	2,909,667	For
Charles Schwab	1,599,904	For
JPMorgan	1,417,732	For
TIAA	1,286,558	For
HARDING LOEVNER FUNDS INC	1,244,054	For
Bridge Builder Trust	1,021,595	For
State Street	945,327	For
MFS	865,116	For
Dimensional	677,492	For
AQR	508,731	For
Capital Group	507,313	For
Dixon Mitchell Investment Counsel Inc.	443,778	For
AMANA MUTUAL FUNDS TRUST	400,000	For
American Century	345,313	For
First Trust	332,834	For
NYLI CBRE Global Infrastructure Megatrends Term Fund	326,000	For
Invesco	231,921	For
Northern Trust	231,442	For
Transamerica	222,466	For
Hartford	217,222	For
Principal	181,792	For

Showing the 25 largest of 112 asset managers. See all 112 in the interactive database.

8. Election of Director: Michel Letellier

DIRECTOR ELECTIONS

Combines 4 wordings of this item as funds reported it.

99.9% fund support · no official result

FOR 99.9%

The 112 asset managers below cast 99.9% of the shares they voted on this item FOR (56,776,495 for, 46,789 against).

FOR: 56,776,495 (99.9%)AGAINST: 46,789 (0.1%)

Largest asset managers voting on “Election of Director: Michel Letellier” at Canadian National Railway Company, 2025-2026
Asset manager	For	Against	Vote
Vanguard	24,490,660	0	For
Lazard	5,229,759	0	For
Fidelity	5,096,814	0	For
BlackRock	3,240,126	0	For
T. Rowe Price	2,909,667	0	For
Charles Schwab	1,599,904	0	For
JPMorgan	1,417,732	0	For
TIAA	1,286,558	0	For
HARDING LOEVNER FUNDS INC	1,244,054	0	For
Bridge Builder Trust	1,021,595	0	For
State Street	945,327	0	For
MFS	865,116	0	For
Dimensional	677,492	0	For
AQR	508,731	0	For
Capital Group	507,313	0	For
Dixon Mitchell Investment Counsel Inc.	443,778	0	For
AMANA MUTUAL FUNDS TRUST	400,000	0	For
American Century	345,313	0	For
First Trust	332,834	0	For
NYLI CBRE Global Infrastructure Megatrends Term Fund	326,000	0	For
Invesco	231,921	0	For
Northern Trust	201,007	30,435	For
Transamerica	222,466	0	For
Hartford	217,222	0	For
Principal	181,792	0	For

Showing the 25 largest of 112 asset managers. See all 112 in the interactive database.

9. Election of Director: Robert Knight

DIRECTOR ELECTIONS

Combines 4 wordings of this item as funds reported it.

94% fund support · no official result

FOR 94%

The 112 asset managers below cast 94% of the shares they voted on this item FOR (53,620,816 for, 3,202,468 against).

FOR: 53,620,816 (94.4%)AGAINST: 3,202,468 (5.6%)

Largest asset managers voting on “Election of Director: Robert Knight” at Canadian National Railway Company, 2025-2026
Asset manager	For	Against	Vote
Vanguard	24,490,660	0	For
Lazard	5,229,759	0	For
Fidelity	4,859,198	237,616	For
BlackRock	3,240,126	0	For
T. Rowe Price	0	2,909,667	Against
Charles Schwab	1,599,904	0	For
JPMorgan	1,417,732	0	For
TIAA	1,286,558	0	For
HARDING LOEVNER FUNDS INC	1,244,054	0	For
Bridge Builder Trust	1,021,595	0	For
State Street	945,327	0	For
MFS	865,116	0	For
Dimensional	677,492	0	For
AQR	508,731	0	For
Capital Group	507,313	0	For
Dixon Mitchell Investment Counsel Inc.	443,778	0	For
AMANA MUTUAL FUNDS TRUST	400,000	0	For
American Century	345,313	0	For
First Trust	332,834	0	For
NYLI CBRE Global Infrastructure Megatrends Term Fund	326,000	0	For
Invesco	231,921	0	For
Northern Trust	231,442	0	For
Transamerica	222,466	0	For
Hartford	217,222	0	For
Principal	181,792	0	For

Showing the 25 largest of 112 asset managers. See all 112 in the interactive database.

10. Election of Director: Susan C. Jones

DIRECTOR ELECTIONS

Combines 4 wordings of this item as funds reported it.

100% fund support · no official result

FOR 100%

The 112 asset managers below cast 100% of the shares they voted on this item FOR (56,823,284 for, 0 against).

FOR: 56,823,284 (100.0%)

Largest asset managers voting on “Election of Director: Susan C. Jones” at Canadian National Railway Company, 2025-2026
Asset manager	For	Vote
Vanguard	24,490,660	For
Lazard	5,229,759	For
Fidelity	5,096,814	For
BlackRock	3,240,126	For
T. Rowe Price	2,909,667	For
Charles Schwab	1,599,904	For
JPMorgan	1,417,732	For
TIAA	1,286,558	For
HARDING LOEVNER FUNDS INC	1,244,054	For
Bridge Builder Trust	1,021,595	For
State Street	945,327	For
MFS	865,116	For
Dimensional	677,492	For
AQR	508,731	For
Capital Group	507,313	For
Dixon Mitchell Investment Counsel Inc.	443,778	For
AMANA MUTUAL FUNDS TRUST	400,000	For
American Century	345,313	For
First Trust	332,834	For
NYLI CBRE Global Infrastructure Megatrends Term Fund	326,000	For
Invesco	231,921	For
Northern Trust	231,442	For
Transamerica	222,466	For
Hartford	217,222	For
Principal	181,792	For

Showing the 25 largest of 112 asset managers. See all 112 in the interactive database.

11. Election of Director: Tracy Robinson

DIRECTOR ELECTIONS

Combines 4 wordings of this item as funds reported it.

100% fund support · no official result

FOR 100%

The 112 asset managers below cast 100% of the shares they voted on this item FOR (56,823,284 for, 0 against).

FOR: 56,823,284 (100.0%)

Largest asset managers voting on “Election of Director: Tracy Robinson” at Canadian National Railway Company, 2025-2026
Asset manager	For	Vote
Vanguard	24,490,660	For
Lazard	5,229,759	For
Fidelity	5,096,814	For
BlackRock	3,240,126	For
T. Rowe Price	2,909,667	For
Charles Schwab	1,599,904	For
JPMorgan	1,417,732	For
TIAA	1,286,558	For
HARDING LOEVNER FUNDS INC	1,244,054	For
Bridge Builder Trust	1,021,595	For
State Street	945,327	For
MFS	865,116	For
Dimensional	677,492	For
AQR	508,731	For
Capital Group	507,313	For
Dixon Mitchell Investment Counsel Inc.	443,778	For
AMANA MUTUAL FUNDS TRUST	400,000	For
American Century	345,313	For
First Trust	332,834	For
NYLI CBRE Global Infrastructure Megatrends Term Fund	326,000	For
Invesco	231,921	For
Northern Trust	231,442	For
Transamerica	222,466	For
Hartford	217,222	For
Principal	181,792	For

Showing the 25 largest of 112 asset managers. See all 112 in the interactive database.

12. Election of Director: Al Monaco

DIRECTOR ELECTIONS

Combines 2 wordings of this item as funds reported it.

99.8% fund support · no official result

FOR 99.8%

The 102 asset managers below cast 99.8% of the shares they voted on this item FOR (46,932,146 for, 92,041 against).

FOR: 46,932,146 (99.8%)AGAINST: 92,041 (0.2%)

Largest asset managers voting on “Election of Director: Al Monaco” at Canadian National Railway Company, 2025-2026
Asset manager	For	Against	Vote
Vanguard	16,837,631	0	For
Lazard	5,229,759	0	For
Fidelity	5,096,814	0	For
BlackRock	3,240,126	0	For
T. Rowe Price	2,909,667	0	For
JPMorgan	1,417,732	0	For
TIAA	1,286,558	0	For
HARDING LOEVNER FUNDS INC	1,244,054	0	For
Bridge Builder Trust	1,021,595	0	For
State Street	945,327	0	For
MFS	865,116	0	For
Dimensional	677,492	0	For
AQR	508,731	0	For
Capital Group	507,313	0	For
Dixon Mitchell Investment Counsel Inc.	443,778	0	For
AMANA MUTUAL FUNDS TRUST	400,000	0	For
American Century	345,313	0	For
First Trust	332,834	0	For
NYLI CBRE Global Infrastructure Megatrends Term Fund	326,000	0	For
Invesco	231,921	0	For
Northern Trust	201,007	30,435	For
Transamerica	222,466	0	For
Principal	181,792	0	For
DWS	178,830	0	For
Putnam	175,622	0	For

Showing the 25 largest of 102 asset managers. See all 102 in the interactive database.

13. Advisory Vote on Executive Compensation Approach

SECTION 14A SAY-ON-PAY VOTES

95% fund support · no official result

FOR 95%

The 92 asset managers below cast 95% of the shares they voted on this item FOR (42,068,798 for, 2,077,614 against).

FOR: 42,068,798 (95.3%)AGAINST: 2,077,614 (4.7%)

Largest asset managers voting on “Advisory Vote on Executive Compensation Approach” at Canadian National Railway Company, 2025-2026
Asset manager	For	Against	Vote
Vanguard	16,837,631	0	For
Lazard	5,229,759	0	For
Fidelity	5,096,814	0	For
BlackRock	3,266,361	0	For
T. Rowe Price	2,909,667	0	For
TIAA	0	1,286,558	Against
State Street	945,327	0	For
MFS	865,116	0	For
Dimensional	677,492	0	For
CIDEL ASSET MANAGEMENT INC	521,147	0	For
AQR	508,731	0	For
Capital Group	507,313	0	For
Dixon Mitchell Investment Counsel Inc.	443,778	0	For
APG Asset Management US Inc.	0	441,980	Against
American Century	345,313	0	For
First Trust	332,834	0	For
NYLI CBRE Global Infrastructure Megatrends Term Fund	326,000	0	For
Northern Trust	232,714	0	For
Invesco	231,921	0	For
Transamerica	222,466	0	For
MONTRUSCO BOLTON INVESTMENTS INC.	196,802	0	For
NORDEA INVESTMENT MANAGEMENT AB	0	194,874	Against
Principal	181,792	0	For
DWS	178,830	0	For
Putnam	175,622	0	For

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

14. MANAGEMENT ADVISORY VOTE ON CLIMATE CHANGE

ENVIRONMENT OR CLIMATE

98% fund support · no official result

FOR 98%

The 83 asset managers below cast 98% of the shares they voted on this item FOR (39,878,905 for, 761,494 against).

FOR: 39,878,905 (98.1%)AGAINST: 761,494 (1.9%)

Largest asset managers voting on “MANAGEMENT ADVISORY VOTE ON CLIMATE CHANGE” at Canadian National Railway Company, 2025-2026
Asset manager	For	Against	Vote
Vanguard	16,837,631	0	For
Lazard	5,229,759	0	For
Fidelity	5,096,814	0	For
T. Rowe Price	2,909,667	0	For
BlackRock	1,355,690	0	For
TIAA	1,286,558	0	For
State Street	945,327	0	For
MFS	865,116	0	For
Dimensional	0	677,492	Against
AQR	508,731	0	For
Capital Group	507,313	0	For
Dixon Mitchell Investment Counsel Inc.	443,778	0	For
American Century	345,313	0	For
First Trust	332,834	0	For
NYLI CBRE Global Infrastructure Megatrends Term Fund	326,000	0	For
Invesco	231,921	0	For
Northern Trust	231,442	0	For
Transamerica	222,466	0	For
Principal	181,792	0	For
DWS	178,830	0	For
Putnam	175,622	0	For
Six Circles Trust	144,747	0	For
New York Life	142,270	0	For
Advisors' Inner Circle Fund III	138,932	0	For
Franklin Templeton	126,882	0	For

Showing the 25 largest of 83 asset managers. See all 83 in the interactive database.

15. RATIFY KPMG LLP AS AUDITORS

AUDIT-RELATED

99.9% fund support · no official result

FOR 99%

The 83 asset managers below cast 99.9% of the shares they voted on this item FOR (40,040,539 for, 2,960 against).

FOR: 40,040,539 (98.5%)AGAINST: 2,960 (0.0%)ABSTAIN: 596,900 (1.5%)

Largest asset managers voting on “RATIFY KPMG LLP AS AUDITORS” at Canadian National Railway Company, 2025-2026
Asset manager	For	Abstain	Vote
Vanguard	16,240,731	596,900	For
Lazard	5,229,759	0	For
Fidelity	5,096,814	0	For
T. Rowe Price	2,909,667	0	For
BlackRock	1,355,690	0	For
TIAA	1,286,558	0	For
State Street	945,327	0	For
MFS	865,116	0	For
Dimensional	677,492	0	For
AQR	508,731	0	For
Capital Group	507,313	0	For
Dixon Mitchell Investment Counsel Inc.	443,778	0	For
American Century	345,313	0	For
First Trust	332,834	0	For
NYLI CBRE Global Infrastructure Megatrends Term Fund	326,000	0	For
Invesco	231,921	0	For
Northern Trust	231,442	0	For
Transamerica	222,466	0	For
Principal	181,792	0	For
DWS	178,830	0	For
Putnam	175,622	0	For
Six Circles Trust	144,747	0	For
New York Life	142,270	0	For
Advisors' Inner Circle Fund III	138,932	0	For
Franklin Templeton	126,882	0	For

Showing the 25 largest of 83 asset managers. See all 83 in the interactive database.

16. Advisory Vote to Ratify Named Executive Officers' Compensation

SECTION 14A SAY-ON-PAY VOTES

99.9% fund support · no official result

FOR 99.9%

The 25 asset managers below cast 99.9% of the shares they voted on this item FOR (16,831,513 for, 7,510 against).

FOR: 16,831,513 (100.0%)AGAINST: 7,510 (0.0%)

Largest asset managers voting on “Advisory Vote to Ratify Named Executive Officers' Compensation” at Canadian National Railway Company, 2025-2026
Asset manager	For	Against	Vote
Vanguard	7,653,029	0	For
TD Waterhouse Canada Inc.	4,208,095	0	For
Troy Asset Management Ltd	2,657,849	0	For
Charles Schwab	1,599,904	0	For
Hartford	216,758	464	For
Prudential/PGIM	140,228	0	For
LOUISBOURG INVESTMENTS INC.	82,357	0	For
Russell Investments	71,470	0	For
Purpose Unlimited Inc.	71,035	0	For
Morningstar Funds Trust	37,233	0	For
Datum One Series Trust	33,904	0	For
Mercer Funds	33,478	0	For
Total Fund Solution	9,905	0	For
Windmill Hill Asset Management Ltd	7,976	0	For
Union Investment Management GmbH	0	6,561	Against
Coyle Financial Counsel LLC	1,984	0	For
CAMBIAR INVESTORS LLC	1,975	0	For
Global X	1,421	0	For
Fischer Financial Services, Inc.	1,225	0	For
Brighthouse	618	485	For
ARS Investment Partners, LLC	610	0	For
Edgemoor Investment Advisors, Inc.	277	0	For
Hanson & Doremus Investment Management	150	0	For
Impact Investors, Inc	32	0	For
Beutel, Goodman & Co Ltd.	0	0	--

17. Appointment of KPMG LLP as auditors.

AUDIT-RELATED

Combines 3 wordings of this item as funds reported it.

100% fund support · no official result

FOR 99.7%

The 24 asset managers below cast 100% of the shares they voted on this item FOR (6,365,888 for, 0 against).

FOR: 6,365,888 (99.7%)ABSTAIN: 17,900 (0.3%)

Largest asset managers voting on “Appointment of KPMG LLP as auditors.” at Canadian National Railway Company, 2025-2026
Asset manager	For	Abstain	Vote
BlackRock	1,884,436	0	For
JPMorgan	1,417,732	0	For
HARDING LOEVNER FUNDS INC	1,244,054	0	For
Bridge Builder Trust	963,254	0	For
AMANA MUTUAL FUNDS TRUST	400,000	0	For
YCG Mutual Funds	112,430	0	For
BUFFALO FUNDS	73,998	0	For
ADVISORS SERIES TRUST	58,672	0	For
Brown Advisory Funds	58,035	0	For
RBB FUND, INC.	53,215	0	For
MASTER INVESTMENT PORTFOLIO	32,228	0	For
Morningstar Funds Trust	22,689	0	For
Jackson Real Assets Fund	0	17,900	Abstain
Jackson National	14,050	0	For
Lincoln Financial	8,656	0	For
Ultimus Managers Trust	5,410	0	For
Tidal Trust II	4,735	0	For
CULLEN FUNDS TRUST	4,242	0	For
Gateway Trust	3,486	0	For
ETF Opportunities Trust	2,961	0	For
Harbor ETF Trust	803	0	For
Crewe Advisors LLC	400	0	For
EA Series Trust	300	0	For
Berkeley Capital Partners, LLC	102	0	For

18. 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.

ENVIRONMENT OR CLIMATE

Combines 2 wordings of this item as funds reported it.

99.8% fund support · no official result

FOR 99.8%

The 23 asset managers below cast 99.8% of the shares they voted on this item FOR (6,370,978 for, 7,400 against).

FOR: 6,370,978 (99.9%)AGAINST: 7,400 (0.1%)

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 Company, 2025-2026
Asset manager	For	Against	Vote
BlackRock	1,884,436	0	For
JPMorgan	1,417,732	0	For
HARDING LOEVNER FUNDS INC	1,244,054	0	For
Bridge Builder Trust	963,254	0	For
AMANA MUTUAL FUNDS TRUST	400,000	0	For
YCG Mutual Funds	112,430	0	For
BUFFALO FUNDS	73,998	0	For
ADVISORS SERIES TRUST	58,672	0	For
Brown Advisory Funds	58,035	0	For
RBB FUND, INC.	53,215	0	For
MASTER INVESTMENT PORTFOLIO	32,228	0	For
Morningstar Funds Trust	22,689	0	For
Jackson Real Assets Fund	17,900	0	For
Jackson National	6,650	7,400	Against
Lincoln Financial	8,656	0	For
Tidal Trust II	4,735	0	For
CULLEN FUNDS TRUST	4,242	0	For
Gateway Trust	3,486	0	For
ETF Opportunities Trust	2,961	0	For
Harbor ETF Trust	803	0	For
Crewe Advisors LLC	400	0	For
EA Series Trust	300	0	For
Berkeley Capital Partners, LLC	102	0	For

19. Non-binding Advisory Vote on Executive Compensation -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

100% fund support · no official result

FOR 100%

The 20 asset managers below cast 100% of the shares they voted on this item FOR (73,359 for, 0 against).

FOR: 73,359 (100.0%)

Largest asset managers voting on “Non-binding Advisory Vote on Executive Compensation -Non-binding advisory resolution (the full text of which i” at Canadian National Railway Company, 2025-2026
Asset manager	For	Vote
Argent Trust Co	25,611	For
CHEMUNG CANAL TRUST CO	16,394	For
FIRST MERCHANTS CORP	7,863	For
Haverford Trust Co	5,773	For
Trust Co of the South	4,928	For
Florida Trust Wealth Management Co	3,282	For
Trust Point Inc.	2,702	For
Midwest Trust Co	2,326	For
STOCK YARDS BANK & TRUST CO	1,000	For
Glenview Trust Co	916	For
Bath Savings Trust Co	600	For
FIRST NATIONAL BANK & TRUST CO OF NEWTOWN	535	For
AMERICAN NATIONAL BANK & TRUST	450	For
First Citizens Financial Corp	400	For
Smithfield Trust Co	250	For
Pinnacle Financial Partners, Inc.	217	For
ADIRONDACK TRUST CO	40	For
FIRST CITIZENS BANK & TRUST CO	35	For
TIEDEMANN ADVISORS, LLC	33	For
First Nebraska Trust Co	4	For

20. Advisory Vote on Climate Action Plan

ENVIRONMENT OR CLIMATE

100% fund support · no official result

FOR 100%

The 11 asset managers below cast 100% of the shares they voted on this item FOR (9,798,897 for, 0 against).

FOR: 9,798,897 (100.0%)

Largest asset managers voting on “Advisory Vote on Climate Action Plan” at Canadian National Railway Company, 2025-2026
Asset manager	For	Vote
Vanguard	7,653,029	For
Charles Schwab	1,599,904	For
Hartford	217,222	For
Prudential/PGIM	140,228	For
Russell Investments	71,470	For
Morningstar Funds Trust	37,233	For
Datum One Series Trust	33,904	For
Mercer Funds	33,478	For
Total Fund Solution	9,905	For
Global X	1,421	For
Brighthouse	1,103	For

21. Appointment of Auditor

AUDIT-RELATED

100% fund support · no official result

FOR 99.5%

The 11 asset managers below cast 100% of the shares they voted on this item FOR (9,754,139 for, 0 against).

FOR: 9,754,139 (99.5%)ABSTAIN: 44,758 (0.5%)

Largest asset managers voting on “Appointment of Auditor” at Canadian National Railway Company, 2025-2026
Asset manager	For	Abstain	Vote
Vanguard	7,653,029	0	For
Charles Schwab	1,599,904	0	For
Hartford	216,758	464	For
Prudential/PGIM	140,228	0	For
Russell Investments	71,470	0	For
Morningstar Funds Trust	37,233	0	For
Datum One Series Trust	0	33,904	Abstain
Mercer Funds	33,478	0	For
Total Fund Solution	0	9,905	Abstain
Global X	1,421	0	For
Brighthouse	618	485	For

22. Elect Al Monaco

DIRECTOR ELECTIONS

100% fund support · no official result

FOR 100%

The 11 asset managers below cast 100% of the shares they voted on this item FOR (9,798,897 for, 0 against).

FOR: 9,798,897 (100.0%)

Largest asset managers voting on “Elect Al Monaco” at Canadian National Railway Company, 2025-2026
Asset manager	For	Vote
Vanguard	7,653,029	For
Charles Schwab	1,599,904	For
Hartford	217,222	For
Prudential/PGIM	140,228	For
Russell Investments	71,470	For
Morningstar Funds Trust	37,233	For
Datum One Series Trust	33,904	For
Mercer Funds	33,478	For
Total Fund Solution	9,905	For
Global X	1,421	For
Brighthouse	1,103	For

23. 14A Executive Compensation

SECTION 14A SAY-ON-PAY VOTES

99.7% fund support · no official result

FOR 99.7%

The 6 asset managers below cast 99.7% of the shares they voted on this item FOR (189,888 for, 435 against).

FOR: 189,888 (99.7%)AGAINST: 435 (0.2%)ABSTAIN: 103 (0.1%)

Largest asset managers voting on “14A Executive Compensation” at Canadian National Railway Company, 2025-2026
Asset manager	For	Against	Abstain	Vote
Claret Asset Management Corp	156,376	0	0	For
K.J. Harrison & Partners Inc	29,981	0	0	For
REXFORD CAPITAL INC	3,379	0	0	For
PRENTISS SMITH & CO INC	0	435	0	Against
EAGLE GLOBAL ADVISORS LLC	152	0	0	For
LEAVELL INVESTMENT MANAGEMENT, INC.	0	0	103	Abstain

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

COMPENSATION

Combines 2 wordings of this item as funds reported it.

100% fund support · no official result

FOR 100%

The 6 asset managers below cast 100% of the shares they voted on this item FOR (211,067 for, 0 against).

FOR: 211,067 (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 Company, 2025-2026
Asset manager	For	Vote
Rempart Asset Management Inc.	184,432	For
Tacita Capital Inc	19,800	For
Ultimus Managers Trust	5,410	For
Belfer Management LLC	840	For
Etesian Wealth Advisors, Inc.	370	For
Generation Capital Management LLC	215	For

25. Considering and approving, in an advisory, non-binding capacity, a resolution (the full text of which is set out on page 15 of the accompanying management information circular) accepting our approach to executive compensation as disclosed in the Statement of Executive Compensation section of the accompanying management information circular

SECTION 14A SAY-ON-PAY VOTES

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 (69,208 for, 0 against).

FOR: 69,208 (100.0%)

Largest asset managers voting on “Considering and approving, in an advisory, non-binding capacity, a resolution (the full text of which is set o” at Canadian National Railway Company, 2025-2026
Asset manager	For	Against	Abstain	Withheld	Vote
Rothschild & Co Wealth Management UK Ltd	69,208	0	0	0	For
IPConcept (Luxemburg) S.A.	0	0	0	0	--

Showing the 25 reported items with the widest manager coverage, of 41 in total. View every item.

Largest Canadian National Railway Company shareholders voting in 2025-2026

Ranked by the number of Canadian National Railway Company shares each manager voted on the most widely held ballot item of the 2025-2026 meeting, shown as a share of the 613,300,000 shares outstanding at the time of that meeting.

Top Canadian National Railway Company shareholders by shares voted, 2025-2026
#	Asset manager	% of shares outstanding
1	BlackRock	3.54%
2	1832 Asset Management L.P.	2.82%
3	Fiera Capital Corp	0.97%
4	SCOTIA CAPITAL INC.	0.86%
5	JPMorgan	0.24%
6	HARDING LOEVNER LP	0.23%
7	HARDING LOEVNER FUNDS INC	0.20%
8	Cardinal Capital Management, Inc.	0.18%
9	Bridge Builder Trust	0.16%
10	Northern Trust	0.12%

Reported Canadian National Railway Company 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 Company beneficial owners on record for the 2025-2026 proxy season
Holder	% outstanding	Disclosure
Vanguard Group	4.02%	13F
Wellington Management	1.88%	13F
T. Rowe Price	1.06%	13F
Geode Capital	0.85%	13F
JPMorgan Chase	0.48%	13F
Goldman Sachs	0.44%	13F
Morgan Stanley	0.43%	13F
FMR (Fidelity)	0.31%	13F
Citadel Advisors	0.27%	13F
Charles Schwab	0.26%	13F

Percentages above are of 613,300,000 shares outstanding, as reported by Canadian National Railway Company on its Form 6-K dated 2025-12-31 (see the filing on EDGAR). This is the count contemporaneous with the 2025-2026 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 Company’s 6-K dated 2025-12-31. This page is a static snapshot rebuilt weekly on 02 October 2026; a live search always shows the current data.

At Canadian National Railway Company's shareholder meeting held 2026-05-01, in the 2025-2026 proxy season, 499 asset managers reported how they voted in their SEC Form N-PX filings, covering 4,566 separate fund positions. Their filings are grouped here into 41 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 90% 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 Company proxy season coverage: 2023-2024 · 2024-2025 · 2025-2026 (this page).