TFI International

TFII • NYSE

TFI International is a trucking company in the industrials sector on NYSE, led by Alain Bédard, with a market cap of $7.9B. As of Q3 2025, 65% of shares are held by 233 institutional investors, with FIL Ltd as the largest holder at 7.28%.

CEOAlain Bédard

Market Cap$7.9B

Trucking

Industrials

Employees25.0K

Websitetfiintl.com

Overview

Overview of institutional ownership in TFII as of Q3 2025 with a market cap of $7.3B

All Institutions

Institutions: 233
Value Held: $4.7B
Shares Held: 53.5M
Avg Position: $20.2M
Median Position: $1.3M

Hedge Funds

Hedge Funds: 30
Value Held: $361.6M
Shares Held: 4.1M
Avg Position: $12.1M
Median Position: $2.1M

Ownership Breakdown

Institutional (non-HF)

59.57%

$4.4B

Hedge Funds

4.95%

$361.6M

Retail & Other

35.48%

$2.6B

Based on market cap of $7.3B as of Q3 2025. Institutional (non-HF) excludes hedge funds to avoid double counting.

Biggest Investors

Institutions with the largest positions in TFII as of Q3 2025

Institution	Key People	Position Value	Ownership	Owned Since	Total AUM (Long)
F FIL Ltd Institution	-	$532.1M 0.42% of portfolio	7.28% 6.0M shares	Q2 2020 Held for 5y 5m	$127.75B
CAISSE DE DEPOT ET PLACEMENT DU QUEBEC Fund of Funds	Neil David Blundell CIO	$500.3M 0.90% of portfolio	6.85% 5.7M shares	Q3 2023 Held for 2y 2m	$55.5B
HENDERSON GROUP PLC Institution	Ali Dibadj CEO	$332.1M 0.15% of portfolio	4.54% 3.8M shares	Q4 2021 Held for 3y 11m	$218.74B
VANGUARD GROUP INC Institution	Salim Ramji CEO	$296.9M 0.00% of portfolio	4.06% 3.4M shares	Q1 2020 Held for 5y 8m	$6.69T
Jarislowsky, Fraser Ltd Long Only Manager	Marc Jeffrey Rowan CEO	$281.8M 1.55% of portfolio	3.86% 3.2M shares	Q1 2025 Held for 8 months	$18.2B
FMR LLC Institution	-	$216.3M 0.01% of portfolio	2.96% 2.5M shares	Q1 2020 Held for 5y 8m	$1.92T
R ROYAL BANK OF CANADA Institution	-	$208.4M 0.04% of portfolio	2.85% 2.4M shares	Q1 2020 Held for 5y 8m	$542.04B
Federation des caisses Desjardins du Quebec Fund of Funds	Neil David Blundell CIO	$190.3M 0.75% of portfolio	2.61% 2.2M shares	Q1 2020 Held for 5y 8m	$25.4B
T Turtle Creek Asset Management Inc. Institution	-	$160.3M 4.84% of portfolio	2.19% 1.8M shares	Q1 2020 Held for 5y 8m	$3.3B
N NATIONAL BANK OF CANADA /FI/ Institution	-	$130.8M 0.15% of portfolio	1.80% 1.5M shares	Q4 2021 Held for 3y 11m	$88.6B

Net Capital Flow

Institutional buying and selling activity for TFII in Q3 2025

Net Flow: −$65.7M
Buyers: 82
Sellers: 138
Total Bought: +$462.2M
Total Sold: −$527.9M
Avg Position: $18.6M

Biggest Buyers

Institution	Net Bought	Current Position
CAISSE DE DEPOT ET PLACEMENT DU QUEBEC Fund of Funds	+$143.0M +1.6M shares	$500.3M 5.7M shares
FMR LLC Institution	+$45.5M +516.6K shares	$216.3M 2.5M shares
F FIL Ltd Institution	+$38.3M +435.0K shares	$532.1M 6.0M shares
Q Quadrature Capital Ltd Institution	+$23.5M +267.2K shares	$24.1M 273.7K shares
Connor, Clark & Lunn Investment Management Ltd. Long Only Manager	+$23.1M +263.1K shares	$61.0M 692.8K shares
Federation des caisses Desjardins du Quebec Fund of Funds	+$22.0M +250.5K shares	$190.3M 2.2M shares
T TD ASSET MANAGEMENT INC Institution	+$17.9M +203.1K shares	$62.3M 707.6K shares
HENDERSON GROUP PLC Institution	+$17.6M +199.8K shares	$332.1M 3.8M shares
N NATIONAL BANK OF CANADA /FI/ Institution	+$15.1M +171.5K shares	$130.8M 1.5M shares
GOLDMAN SACHS GROUP INC Institution	+$14.3M +162.2K shares	$90.6M 1.0M shares

Biggest Sellers

Institution	Net Sold	Current Position
C Capital International Investors Institution	−$70.3M −787.6K shares	$778.3K 8.7K shares
BANK OF AMERICA CORP /DE/ Institution	−$70.0M −794.6K shares	$28.3M 320.9K shares
MORGAN STANLEY RIA/Wealth	−$63.5M −720.8K shares	$50.2M 569.9K shares
CITADEL ADVISORS LLC Hedge Fund•Multi-Strategy	−$37.2M −422.1K shares	$53.5M 608.0K shares
ARROWSTREET CAPITAL LIMITED PARTNERSHIP Hedge Fund•Quant	−$31.3M −355.6K shares	$31.9M 362.3K shares
R ROYAL BANK OF CANADA Institution	−$25.9M −293.8K shares	$208.4M 2.4M shares
MILLENNIUM MANAGEMENT LLC Hedge Fund•Multi-Strategy	−$20.5M −232.7K shares	$1.4M 15.6K shares
ARGENT CAPITAL MANAGEMENT LLC Long Only Manager	−$12.8M −142.9K shares	Sold Off 0 shares
C Cubist Systematic Strategies, LLC Institution	−$10.8M −122.4K shares	$2.7M 31.2K shares
BALYASNY ASSET MANAGEMENT LLC Hedge Fund•Multi-Strategy	−$10.7M −121.0K shares	$15.8M 179.1K shares

Entry and Exit Activity

Institutions that initiated new positions or completely exited TFII in Q3 2025

New Positions: 12
New Value: $25.2M
Exited Positions: 42
Exited Value: $48.8M

New Positions

Institution	Position Value
S Scheer, Rowlett & Associates Investment Management Ltd. Institution	$14.6M 165.5K shares
MANNING & NAPIER ADVISORS LLC RIA/Wealth	$3.4M 38.5K shares
K K.J. Harrison & Partners Inc Institution	$3.1M 34.7K shares
GUARDIAN CAPITAL LP Long Only Manager	$2.6M 30.0K shares
U Utah Retirement Systems Institution	$770.1K 8.7K shares
IEQ CAPITAL, LLC RIA/Wealth	$395.4K 4.5K shares
FourThought Financial Partners, LLC RIA/Wealth	$245.0K 2.8K shares
Point72 Ltd RIA/Wealth	$85.1K 967.0 shares
Sound Income Strategies, LLC RIA/Wealth	$908.0 10.0 shares
R Root Financial Partners, LLC RIA/Wealth	$616.0 7.0 shares

Exited Positions

Institution	Previous Position
ARGENT CAPITAL MANAGEMENT LLC Long Only Manager	$12.8M 142.9K shares
O ONTARIO TEACHERS PENSION PLAN BOARD Institution	$5.0M 55.9K shares
UBS GLOBAL ASSET MANAGEMENT AMERICAS INC Long Only Manager	$4.9M 54.5K shares
C Capital Group Private Client Services, Inc. RIA/Wealth	$3.4M 38.0K shares
VOLORIDGE INVESTMENT MANAGEMENT, LLC Hedge Fund•Multi-Strategy	$2.6M 28.9K shares
RAYMOND JAMES FINANCIAL INC RIA/Wealth	$2.5M 27.7K shares
L Laurel Wealth Advisors LLC RIA/Wealth	$2.4M 26.9K shares
PCJ Investment Counsel Ltd. Long Only Manager	$2.0M 22.3K shares
O OSSIAM Institution	$1.4M 15.9K shares
L LRT Capital Management, LLC Institution	$1.4M 15.2K shares

Options Activity

Institutions with the largest Call and Put options positions in TFII as of Q3 2025

Call Positions: 12
Call Value: $23.4M
Put Positions: 15
Put Value: $18.4M

Call Positions

Institution	Position Value
CITADEL ADVISORS LLC Hedge Fund•Multi-Strategy	$7.5M 847.0 contracts
W WOLVERINE TRADING, LLC Institution	$4.6M 513.0 contracts
D D. E. Shaw & Co., Inc. Institution	$3.1M 351.0 contracts
SUSQUEHANNA INTERNATIONAL GROUP, LLP Private Equity	$2.4M 269.0 contracts
S SIG North Trading, ULC Institution	$2.3M 262.0 contracts
J JANE STREET GROUP, LLC Institution	$1.8M 204.0 contracts
Walleye Trading LLC RIA/Wealth	$774.9K 88.0 contracts
C Cubist Systematic Strategies, LLC Institution	$651.6K 74.0 contracts
Walleye Trading Advisors, LLC Hedge Fund•Multi-Strategy	$184.9K 21.0 contracts
TORONTO DOMINION BANK Institution	$105.6K 12.0 contracts

Put Positions

Institution	Position Value
S SIG North Trading, ULC Institution	$6.4M 729.0 contracts
R ROYAL BANK OF CANADA Institution	$4.0M 450.0 contracts
CITADEL ADVISORS LLC Hedge Fund•Multi-Strategy	$2.8M 322.0 contracts
BANK OF MONTREAL /CAN/ Institution	$1.8M 199.0 contracts
Walleye Trading LLC RIA/Wealth	$1.0M 114.0 contracts
C Cubist Systematic Strategies, LLC Institution	$880.6K 100.0 contracts
SUSQUEHANNA INTERNATIONAL GROUP, LLP Private Equity	$581.2K 66.0 contracts
W WOLVERINE TRADING, LLC Institution	$321.6K 36.0 contracts
P PEAK6 LLC Institution	$317.0K 36.0 contracts
J JANE STREET GROUP, LLC Institution	$273.2K 31.0 contracts

Most Committed Institutions

Institutions with TFII as the highest % of their portfolio as of Q3 2025

Institution	Key People	Portfolio Weight	Ownership	Owned Since	Total AUM (Long)
H Hauser Brothers GmbH Institution	-	22.87% $28.4M	0.39% 322.2K shares	Q4 2023 Held for 1y 11m	$124.1M
CDAM Ltd Hedge Fund•Value	Adam Chamberlain CEO	6.18% $34.3M	0.47% 389.3K shares	Q3 2022 Held for 3y 2m	$554.4M
T Turtle Creek Asset Management Inc. Institution	-	4.84% $160.3M	2.19% 1.8M shares	Q1 2020 Held for 5y 8m	$3.3B
M Maple Rock Capital Partners, Inc. Hedge Fund•Multi-Strategy	Xavier George Majic CEO	3.78% $96.7M	1.32% 1.1M shares	Q1 2024 Held for 1y 8m	$2.6B
Q QV Investors Inc. Institution	-	3.62% $38.9M	0.53% 441.5K shares	Q2 2022 Held for 3y 5m	$1.1B
D Dixon Mitchell Investment Counsel Inc. Institution	-	2.87% $80.7M	1.10% 912.0K shares	Q1 2020 Held for 5y 8m	$2.8B
B Baskin Financial Services Inc. Institution	-	2.86% $37.6M	0.51% 427.4K shares	Q1 2020 Held for 5y 8m	$1.3B
N Norwood Investment Partners, LP Hedge Fund•Long/Short	Charles Hamilton Hoeveler Managing Partner	2.42% $2.8M	0.04% 32.0K shares	Q4 2021 Held for 3y 11m	$116.3M
Jarislowsky, Fraser Ltd Long Only Manager	Marc Jeffrey Rowan CEO	1.55% $281.8M	3.86% 3.2M shares	Q1 2025 Held for 8 months	$18.2B
T Timelo Investment Management Inc. Institution	-	1.04% $616.4K	0.01% 7.0K shares	Q3 2025 Held for 2 months	$59.3M