Free · no sign-up · Q2 2026

Which funds own CP

Canadian Pacific Kansas City in the Q2 2026 filings. At least 6 of the 91 current managers on file reported a position, worth $9.2bn between them. It is among the largest positions of fewer than a fifth of the current managers on file. The quarter went the other way: 5 managers trimmed or sold out against 2 buying.

Managers holding: 6; at least, of 91 current
Combined value: $9.2bn; as reported
Opened: 0; new this quarter
Added to: 2; already held
Trimmed or sold out: 5; 1 sold out entirely

Only each manager’s largest 200 positions are listed here, so a smaller holder may be missing.

Managers reporting a position

Largest first. Weight is the share of that manager’s whole reported book, which is the number worth quoting: $400m is a rounding error in one book and a defining bet in another.

Manager	Value	Weight	Shares	Change on the quarter	Action
TCI Fund Management Ltd Long/short equity · $52.8bn book	$3.9bn	7.4%	45,325,726	+$266m-1,196,197	Trimmed
Fidelity (FMR LLC) Long-only · $2304bn book	$2.1bn	0.1%	24,316,233	+$522m+4,157,528	Added
Invesco Ltd Long-only · $1264bn book	$1.8bn	0.1%	20,465,048	+$21m-1,813,742	Trimmed
MFS Investment Management Long-only · $315bn book	$821m	0.3%	4,248,626	+$361m-589,883	Trimmed
Janus Henderson Group Ltd Long-only · $245bn book	$577m	0.2%	6,654,647	+$46m-94,880	Trimmed
Markel Group Inc Activist · $13.1bn book	$6.3m	0.0%	73,000	+$1.6m+13,500	Added

Sold out of this quarter

Valued at what the position was worth in the previous filing, because by this one it is gone.

Holocene Advisors LP · Long/short equity$77m held before

Ownership through time

At least 8 of the 95 managers whose filings are on file listed CP in Q2 2026, against 1 in Q1 2023. 2 managers fewer than in Q1 2026: 2 no longer listed it among the positions read, which can mean a holding below the listed range or a filing not yet made.

Each manager’s largest 500 positions a quarter are read, so a small holding in a very large book can be missing, and a manager is counted as leaving only where its own filing shows it.

Managers on file listing it

Their combined reported value

Between the quarter ends of Q1 2026 and Q2 2026. Each change in shares is valued at the Q2 2026 price, so the price’s own move is left out; a 13F shows the two quarter ends, not when in between anything was bought or sold.

Started in Q2 2026

No manager on file started a position.

Largest increases, by shares

Fidelity (FMR LLC)20,158,705 to 24,316,233 shares+$360m
Markel Group Inc59,500 to 73,000 shares+$1.2m
Baillie Gifford & Co98,454 to 98,947 shares+$43k
First Eagle Investment Management LLC3,382 to 3,516 shares+$12k

Largest decreases, by shares

Invesco Ltd22,278,790 to 20,465,048 shares-$157m
MFS Investment Management4,838,509 to 4,248,626 shares-$114m
TCI Fund Management Ltd46,521,923 to 45,325,726 shares-$104m
Janus Henderson Group Ltd6,749,527 to 6,654,647 shares-$8.2m

Left it

No manager on file is shown leaving it.

Manager	First listed	Largest	Q2 2026
TCI Fund Management Ltd	Q2 2023	$4.8bn	$3.9bn
Fidelity (FMR LLC)	Q2 2023	$2.7bn	$2.1bn
Invesco Ltd	Q2 2023	$1.8bn	$1.8bn
MFS Investment Management	Q2 2023	$2.1bn	$821m
Janus Henderson Group Ltd	Q2 2023	$577m	$577m
Baillie Gifford & Co	Q2 2023	$162m	$8.6m
Markel Group Inc	Q3 2025	$6.3m	$6.3m
First Eagle Investment Management LLC	Q2 2023	$305k	$305k
Capital World Investors	Q2 2023	$1.7bn	last listed Q3 2024
Egerton Capital UK LLP	Q2 2023	$1.4bn	last listed Q3 2025
Pershing Square Capital Management LP	Q2 2023	$1.3bn	last listed Q1 2025
T. Rowe Price Associates Inc	Q1 2023	$1.0bn	last listed Q3 2024
Artisan Partners LP	Q2 2023	$557m	last listed Q4 2024
Wellington Management Group LLP	Q2 2023	$241m	last listed Q4 2024
Holocene Advisors LP	Q2 2024	$215m	last listed Q1 2026
Neuberger Berman Group LLC	Q2 2023	$211m	last listed Q3 2025
Balyasny Asset Management LLC	Q1 2024	$182m	last listed Q1 2025
Millennium Management LLC	Q4 2025	$164m	last listed Q4 2025

What CP is worth

Knowing who owns it is half the question. The other half is what it is worth against the companies it trades beside, which is the one an interviewer will follow up with.

Build the comp set around CP →

How much of the picture this is

A Form 13F reports US-listed long equity and nothing else: no shorts, no bonds, no cash and no non-US listings. It arrives forty-five days after the quarter ends, so a manager who sold in July still shows the position in a filing published in August. This page reads the managers on file here rather than every filer in the market, and each manager’s largest positions rather than the whole table, so a small position in a very large book may not appear. Say “their last filing showed” rather than “they own”, and the distinction will do you credit.

What to do with a name the funds are buying

Knowing who owns something is the start of a pitch, not the pitch. The next questions are what it is worth and why they were buying.

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