← Holdings
CP

CANADIAN PACIFIC KANSAS CITY

3 managers · $4.0B total
Data: SEC EDGAR 13F · 2026Q2
Manager holders · last 5 qtrs
3
2025Q2 – 2026Q2 · flat QoQ
Total position
$4.0B
Combined value across tracked managers
Net move this quarter
↓ Trimming
Weighted by holders' share change
HolderQ actionValue% of port.Style
TCITrim-2.57%$3.9B7.44%Concentrated / Value
MarathonTrim-12.76%$40M1.62%Capital cycle / Contrarian value
AKOTrim-11.71%$0M4.9%Quality growth / Concentrated long-term
What managers say
2022-08-10Colossus (Invest Like the Best / Business Breakdowns)NeutralUnion Pacific: Long Train Runnin’ - [Business Breakdowns, EP. 69]Detail →
13D/G Ownership Filings

Links open the original SEC EDGAR filing. Covers tracked managers only.

Earnings Calls
Q2 2026August 7, 2026
This quarter's results exceeded expectations, primarily driven by the continued release of network integration benefits, with the three-country single-line intermodal advantage across Canada, the US, and Mexico driving both volume and price gains.
Key data: revenue +13% YoY, core adjusted EPS of $1.20, +13% YoY, adjusted operating ratio of 61.6% (+90 bps YoY), record GTMs and +4% YoY. Core costs and incentive compensation provided a partial offset.
Business progress: grain, energy/chemicals/plastics, and automotive all set quarterly records, with grain revenue up 24% and automotive up 19%. Commercial highlights include Southeast Mexico Express volumes up over 30% from Q1, continued ramp-up of Mexico Midwest Express, commissioning of the Americold cold-chain facility at the Port of Saint John, and steady progress on the Canada–Mexico land bridge. On the operational side, one year after integration, Q2 records were set on core metrics such as car velocity and fuel efficiency, with track maintenance work advanced ahead of schedule. Management emphasized a strong commercial pipeline and said the operating leverage story is just beginning.
Guidance and outlook: management maintained full-year guidance, reaffirmed its 2026 target of double-digit EPS growth, and expects accelerating revenue and continued earnings improvement in the second half of the fiscal year. John cited a mid-single-digit full-year volume growth target, a core adjusted tax rate of approximately 24.75%, and full-year capex of $2.65 billion (down 15% YoY). Fuel prices and FX volatility present some variables, but the company believes the lag effect should turn positive by year-end.
Risks/highlights: On the positive side, management repeatedly emphasized that the demand environment is improving, with the cross-market diversified growth story moving from expectation to delivery. Negative risks include coal volumes down 29% due to customer mine-side production issues, which management explicitly said will remain a drag in the second half; the FTE accident rate rose YoY, and operations leadership acknowledged a safety-performance setback with a commitment to improve.
Financials
Financials coming soon — 10-K data not yet synced for this name