CANADIAN PACIFIC KANSAS CITY

Ticker: CP CUSIP: 13646K108 Class: Com

Note: Option positions (PUT/CALL) are excluded.

InstitutionSharesValue ($000)
ROYAL BANK OF CANADA52,973,768$3,900,457
TCI Fund Management Ltd47,654,423$3,508,630
VANGUARD GROUP INC38,030,675$2,799,894
Invesco Ltd.23,431,949$1,725,294
BANK OF MONTREAL /CAN/20,825,252$1,533,230
TD Asset Management Inc18,598,991$1,371,095
FIL Ltd16,666,777$1,227,045
WCM INVESTMENT MANAGEMENT, LLC16,306,938$1,211,442
MACKENZIE FINANCIAL CORP16,071,058$1,191,746
FMR LLC14,413,253$1,061,134
1832 Asset Management L.P.14,328,630$1,055,017
NORGES BANK13,290,852$978,558
CAUSEWAY CAPITAL MANAGEMENT LLC12,596,802$928,557
MANUFACTURERS LIFE INSURANCE COMPANY, THE10,470,156$772,454
JPMORGAN CHASE & CO9,486,920$698,522
Veritas Asset Management LLP9,344,449$688,032
GEODE CAPITAL MANAGEMENT, LLC8,821,358$661,339
CIBC WORLD MARKET INC.8,433,042$620,925
FRANKLIN RESOURCES INC8,318,781$612,484
CIBC Asset Management Inc7,683,036$568,426
Legal & General Group Plc7,324,191$539,819
NATIONAL BANK OF CANADA /FI/7,098,660$522,104
DZ BANK AG Deutsche Zentral Genossenschafts Bank, Frankfurt6,959,328$512,415
Sustainable Growth Advisers, LP6,564,219$483,323
Fiera Capital Corp6,213,733$457,618
JANUS HENDERSON GROUP PLC6,147,835$452,781
GOLDMAN SACHS GROUP INC6,107,664$449,707
CANADA PENSION PLAN INVESTMENT BOARD6,006,835$442,245
Fisher Asset Management, LLC5,773,272$425,086
Allspring Global Investments Holdings, LLC5,486,521$408,471
Rothschild & Co Wealth Management UK Ltd5,353,188$394,156
Connor, Clark & Lunn Investment Management Ltd.5,261,116$387,342
MASSACHUSETTS FINANCIAL SERVICES CO /MA/5,137,343$378,263
MORGAN STANLEY4,955,711$364,889
Fayez Sarofim & Co4,635,776$341,332
Select Equity Group, L.P.4,444,219$327,622
Beutel, Goodman & Co Ltd.4,437,890$327
TORONTO DOMINION BANK4,272,406$314,557
CANTILLON CAPITAL MANAGEMENT LLC4,207,858$309,825
Federation des caisses Desjardins du Quebec4,089,474$301,140
SCOTIA CAPITAL INC.3,981,072$292,970
BANK OF AMERICA CORP /DE/3,359,071$247,328
BARCLAYS PLC3,261,276$240,128
AKO CAPITAL LLP2,957,361$218
BNP PARIBAS ARBITRAGE, SA2,830,409$208,403
Clearbridge Investments, LLC2,595,766$191,126
Findlay Park Partners LLP2,578,696$189,869
AGF MANAGEMENT LTD2,500,911$184,287
NORTHERN TRUST CORP2,466,501$181,608
Swiss National Bank2,403,793$177,334
Consulta Ltd2,275,000$167,508
PICTON MAHONEY ASSET MANAGEMENT2,252,702$166,083
MILLENNIUM MANAGEMENT LLC2,232,426$164,383
CHARLES SCHWAB INVESTMENT MANAGEMENT INC2,218,910$163,575
THORNBURG INVESTMENT MANAGEMENT INC2,102,939$154,839
Mirova US LLC2,029,319$149,419
ALKEON CAPITAL MANAGEMENT LLC2,004,000$147,555
DIMENSIONAL FUND ADVISORS LP1,920,422$141,417
BRISTOL JOHN W & CO INC /NY/1,853,795$136,495
Rathbones Group PLC1,729,339$127,342
TD Waterhouse Canada Inc.1,708,432$125,733
BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp1,649,718$121,458
UBS Group AG1,598,213$117,676
DEUTSCHE BANK AG\1,581,202$116,424
BANK OF NOVA SCOTIA1,574,919$115,945
Cardinal Capital Management, Inc.1,549,556$156,583
Amundi1,532,245$112,819
WELLS FARGO & COMPANY/MN1,513,130$111,412
AMERICAN CENTURY COMPANIES INC1,505,720$110,863
MUFG SECURITIES (CANADA), LTD.1,371,627$101,005
Aviso Financial Inc.1,324,488$97,515
Maren Capital LLC1,275,173$93,891
GUARDIAN CAPITAL LP1,230,640$90,645
AVIVA PLC1,219,887$89,868
CAISSE DE DEPOT ET PLACEMENT DU QUEBEC1,178,471$86,875
Alberta Investment Management Corp1,125,000$82,827
BCV Asset Management Inc.1,118,986$127,340
Baird Financial Group, Inc.1,023,120$75,332
SEI INVESTMENTS CO1,018,358$74,982
Ninety One UK Ltd1,001,782$73,850
LAZARD ASSET MANAGEMENT LLC999,478$73,585
UniSuper Management Pty Ltd972,786$98,300
State of Tennessee, Department of Treasury935,393$69,746
ENVESTNET ASSET MANAGEMENT INC927,321$68,293
RAYMOND JAMES FINANCIAL INC923,720$68,013
Quilter Plc915,756$67,421
LOCUST WOOD CAPITAL ADVISERS, LLC888,326$65,407
Bank of New York Mellon Corp862,116$63,478
Russell Investments Group, Ltd.776,205$57,177
CI INVESTMENTS INC.744,870$54,845
Focus Partners Wealth737,018$54,270
QV Investors Inc.727,991$54
Addenda Capital Inc.718,820$72,801
BlackRock, Inc.716,524$52,758
CITADEL ADVISORS LLC697,991$51,393
Allianz Asset Management GmbH696,947$51,377
TWO SIGMA INVESTMENTS, LP682,050$50,219
Nuveen, LLC679,181$50,064
HighTower Advisors, LLC630,624$46,434
NATIXIS ADVISORS, L.P.616,956$45
841 other institutions40,822,875$2,857,956
Total (941 institutions)611,551,672$44,415,871