Ownership Submission
FORM 3
 UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

INITIAL STATEMENT OF BENEFICIAL OWNERSHIP OF SECURITIES

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934, Section 17(a) of the Public Utility Holding Company Act of 1935 or Section 30(h) of the Investment Company Act of 1940
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(Print or Type Responses)
1. Name and Address of Reporting Person *
  Bianco Robert Leo Jr
 2. Date of Event Requiring Statement (Month/Day/Year)
06/03/2005		 3. Issuer Name and Ticker or Trading Symbol
CNF INC [CNF]
(Last)
(First)
(Middle)
3240 HILLVIEW AVENUE		 4. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
_____ Director _____ 10% Owner
__X__ Officer (give title below) _____ Other (specify below)
CNF Vice President &
 5. If Amendment, Date Original Filed(Month/Day/Year)
(Street)

PALO ALTO, CA 94304		 6. Individual or Joint/Group Filing(Check Applicable Line)
_X_ Form filed by One Reporting Person
___ Form filed by More than One Reporting Person
(City)
(State)
(Zip)
Table I - Non-Derivative Securities Beneficially Owned
1.Title of Security
(Instr. 4)		 2. Amount of Securities Beneficially Owned
(Instr. 4)		 3. Ownership Form: Direct (D) or Indirect (I)
(Instr. 5)		 4. Nature of Indirect Beneficial Ownership
(Instr. 5)
Common Stock 10,000
D
 
Common Stock 715.9137
I
by 401(k)

Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly. SEC 1473 (7-02)
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Table II - Derivative Securities Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security
(Instr. 4)		 2. Date Exercisable and Expiration Date
(Month/Day/Year)		 3. Title and Amount of Securities Underlying Derivative Security
(Instr. 4)		 4. Conversion or Exercise Price of Derivative Security 5. Ownership Form of Derivative Security: Direct (D) or Indirect (I)
(Instr. 5)		 6. Nature of Indirect Beneficial Ownership
(Instr. 5)
Date Exercisable Expiration Date Title Amount or Number of Shares
Non-Qualified Stock Option (right to buy)   (1) 12/04/2011 Common Stock 5,000 $ 25.11 D  
Non-Qualified Stock Option (right to buy)   (2) 08/01/2010 Common Stock 8,334 $ 25.4375 D  
Non-Qualified Stock Option (right to buy)   (3) 12/02/2012 Common Stock 6,000 $ 31.38 D  
Non-Qualified Stock Option (right to buy)   (4) 12/15/2013 Common Stock 7,125 $ 32.96 D  
Non-Qualified Stock Option (right to buy) 06/30/1999(5) 06/30/2008 Common Stock 4,000 $ 43.0625 D  
Non-Qualified Stock Option (right to buy)   (6) 01/24/2015 Common Stock 8,000 $ 46.02 D  
Series B Preferred Stock   (7)   (7) Common Stock 137.6254 $ (7) I by 401(k)

Reporting Owners

Reporting Owner Name / Address Relationships
Director 10% Owner Officer Other
Bianco Robert Leo Jr
3240 HILLVIEW AVENUE
PALO ALTO, CA 94304		       CNF Vice President &  

Signatures

By: Gary S Cullen, Attorney-at-Law For: Robert L Bianco Jr. 06/10/2005
**Signature of Reporting Person Date

Explanation of Responses:

* If the form is filed by more than one reporting person, see Instruction 5(b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
(1) This option vests in four annual equal installments, with the first installment vesting on January 1, 2003 - Option fully vested on January 1, 2006.
(2) 1/3 vests on 08/01/2001, one year from date of grant, and the remainer of the option vests on 8/1/2005, or earlier if certain performance criteria are met.
(3) This option vests in four annual equal installments, with the first installment vesting on January 1, 2004 - Option fully vested on January 1, 2007.
(4) This option vests in four annual equal installments, with the first installment vesting on January 1, 2005 - Option fully vested on January 1, 2008.
(5) Options vested in full one year from grant date.
(6) This option vests in three annual equal installments, with the first installment vesting on January 1, 2006 - Option fully vested on January 1, 2008.
(7) These shares were acquired under the CNF Thrift and Stock Plan as matching contributions or in lieu of cash dividends on other Series B preferred. Each Series B share converts to 4.708 shares of common stock at the option of the Trustee. Upon termination of plan participation each Series B preferred share, with a market value of $152.10, is converted to the equivalent number of common shares, but in no event fewer than 4.708 shares.

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