National Bank of Canada’s Canadian Natural Resources CNQ Stock Holding History

National Bank of Canada’s Portfolio CNQ Stock Details CNQ Fund Activity

Bought

Maintained

Sold

Quarter	Market Value	Status	Shares	Change in Stake	Trade Value	Portfolio Weight	Portfolio Position
2026 Q1	$580M	Sell	12,004,421 -6,562,364	-35%	-$270M	0.52%	39
2025 Q4	$628M	Buy	18,566,785 +5,790,337	+45%	+$188M	0.57%	34
2025 Q3	$408M	Sell	12,776,448 -7,186,681	-36%	-$225M	0.41%	47
2025 Q2	$627M	Buy	19,963,129 +3,122,051	+19%	+$94.6M	0.6%	33
2025 Q1	$518M	Buy	16,841,078 +2,630,720	+19%	+$79.7M	0.54%	34
2024 Q4	$439M	Buy	14,210,358 +5,976,970	+73%	+$201M	0.47%	46
2024 Q3	$273M	Buy	8,233,388 +3,197,971	+64%	+$111M	0.31%	57
2024 Q2	$179M	Sell	5,035,417 -625,845	-11%	-$23.6M	0.24%	77
2024 Q1	$216M	Sell	5,661,262 -2,374,992	-30%	-$79.4M	0.33%	58
2023 Q4	$264M	Sell	8,036,254 -4,810,232	-37%	-$156M	0.42%	45
2023 Q3	$405M	Sell	12,846,486 -6,110,244	-32%	-$187M	0.62%	34
2023 Q2	$533M	Sell	18,956,730 -15,509,548	-45%	-$443M	0.98%	19
2023 Q1	$953M	Buy	34,466,278 +9,236,352	+37%	+$262M	2.35%	4
2022 Q4	$700M	Buy	25,229,926 +22,519,910	+831%	+$644M	1.78%	8
2022 Q3	$62.2M	Buy	2,710,016 +52,061	+2%	+$1.35M	0.33%	66
2022 Q2	$70M	Sell	2,657,955 -13,059	-0.5%	-$397K	0.32%	75
2022 Q1	$81.7M	Buy	2,671,014 +181,175	+7%	+$4.83M	0.24%	87
2021 Q4	$51.4M	Buy	+2,489,839	New	+$50.4M	0.18%	107

Other funds holding CNQ

Capital World Investors Los Angeles, California $733B AUM 35.63% 1-Year Est. Return

Capital Research Global Investors Los Angeles, California $645B AUM 30.41% 1-Year Est. Return

Royal Bank of Canada Toronto, Ontario, Canada $570B AUM 27.57% 1-Year Est. Return

Fidelity Investments Boston, Massachusetts $1.9T AUM 41.92% 1-Year Est. Return

Bank of Montreal Toronto, Ontario, Canada $269B AUM 31.4% 1-Year Est. Return

VCM

Vanguard Capital Management Malvern, Pennsylvania $4.04T AUM

Fisher Asset Management Camas, Washington $336B AUM 34.66% 1-Year Est. Return

CIBC World Market Toronto, Ontario, Canada $61.3B AUM 39.33% 1-Year Est. Return

Canada Pension Plan Investment Board Toronto Ontario, Ontario, Canada $155B AUM 29.93% 1-Year Est. Return

TD Asset Management Toronto, Ontario, Canada $115B AUM 41.58% 1-Year Est. Return

National Bank of Canada's CNQ Position: Q1 2026 in Review

National Bank of Canada reduced its Canadian Natural Resources (CNQ) stake by 35% in Q1 2026, selling an estimated $270M and leaving 12,004,421 shares worth $580M. The position accounts for 0.52% of the portfolio, ranked #39.

National Bank of Canada first reported a position in CNQ in Q4 2021 and has held it in 18 quarters since. The position peaked at $953M in Q1 2023. 741 funds tracked by Wall St. Rank hold CNQ as of Q1 2026.

National Bank of Canada held 12,004,421 shares of Canadian Natural Resources worth $580M as of Q1 2026.
National Bank of Canada sold 6,562,364 Canadian Natural Resources shares in Q1 2026, an estimated $270M.
Canadian Natural Resources made up 0.52% of National Bank of Canada's portfolio in Q1 2026, its #39 holding.
National Bank of Canada first reported a position in Canadian Natural Resources in Q4 2021 and has held it in 18 quarters since.
National Bank of Canada's Canadian Natural Resources position peaked at $953M in Q1 2023.
741 funds tracked by Wall St. Rank held Canadian Natural Resources as of Q1 2026.

Based on National Bank of Canada's 13F filing for Q1 2026, filed 15 May 2026.