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Canadian Natural Resources
CNQ

626 hedge funds and large institutions have $45.2B invested in Canadian Natural Resources in 2024 Q4 according to their latest regulatory filings, with 76 funds opening new positions, 229 increasing their positions, 232 reducing their positions, and 65 closing their positions.

New
Increased
Maintained
Reduced
Closed

17% more first-time investments, than exits

New positions opened: 76 | Existing positions closed: 65

1% more funds holding

Funds holding: 621 → 626 (+5)

1% less repeat investments, than reductions

Existing positions increased: 229 | Existing positions reduced: 232

1.9% less ownership

Funds ownership: 71.17% → 69.27% (-1.9%)

10% less capital invested

Capital invested by funds: $50.3B → $45.2B (-$5.07B)

23% less call options, than puts

Call options by funds: $453M | Put options by funds: $589M

24% less funds holding in top 10

Funds holding in top 10: 34 → 26 (-8)

Holders
626
Holders Change
+5
Holders Change %
+0.81%
% of All Funds
8.25%
Holding in Top 10
26
Holding in Top 10 Change
-8
Holding in Top 10 Change %
-23.53%
% of All Funds
0.34%
New
76
Increased
229
Reduced
232
Closed
65
Calls
$453M
Puts
$589M
Net Calls
-$136M
Net Calls Change
-$36M

Top Buyers

1
Fidelity Investments
Fidelity Investments
Massachusetts
+$248M
2
National Bank of Canada
National Bank of Canada
Quebec, Canada
+$201M
3
Goldman Sachs
Goldman Sachs
New York
+$134M
4
Assenagon Asset Management
Assenagon Asset Management
Luxembourg
+$121M
5
Connor, Clark & Lunn Investment Management (CC&L)
Connor, Clark & Lunn Investment Management (CC&L)
British Columbia, Canada
+$109M

Top Sellers

1
Bank of America
Bank of America
North Carolina
-$558M
2
Capital World Investors
Capital World Investors
California
-$423M
3
Bank of Nova Scotia
Bank of Nova Scotia
Ontario, Canada
-$337M
4
Fidelity International
Fidelity International
Bermuda
-$243M
5
Morgan Stanley
Morgan Stanley
New York
-$214M
Name Holding Trade Value Shares
Change 		Change in
Stake
Osaic Holdings
226
Osaic Holdings
Arizona
$3.07M -$763K -22,646 -19%
US Bancorp
227
US Bancorp
Minnesota
$2.99M -$106K -3,155 -3%
QT
228
Quantbot Technologies
New York
$2.98M -$1.58M -46,804 -33%
TLP
229
Trinity Legacy Partners
Texas
$2.9M +$97.1K +2,882 +3%
RWM
230
Ritholtz Wealth Management
New York
$2.87M -$375K -11,121 -11%
GIM
231
Gold Investment Management
Alberta, Canada
$2.8M +$88.2K +2,618 +3%
PNC Financial Services Group
232
PNC Financial Services Group
Pennsylvania
$2.76M +$244K +7,236 +9%
DFG
233
Dupree Financial Group
Kentucky
$2.73M -$52K -1,544 -2%
KAS
234
Kestra Advisory Services
Texas
$2.69M -$80.1K -2,379 -3%
Cetera Investment Advisers
235
Cetera Investment Advisers
Illinois
$2.62M +$275K +8,148 +11%
Wolverine Trading
236
Wolverine Trading
Illinois
$2.59M +$2.11M +62,642 +271%
SLAM
237
Swiss Life Asset Management
$2.59M +$2.27M +67,495 +406%
BCI
238
Brinker Capital Investments
Pennsylvania
$2.53M +$16.7K +497 +0.6%
OPS
239
Orion Portfolio Solutions
Nebraska
$2.53M +$16.7K +497 +0.6%
MIM
240
Merrion Investment Management
New Jersey
$2.53M – – –
Mirae Asset Global ETFs Holdings
241
Mirae Asset Global ETFs Holdings
Hong Kong
$2.51M +$69.6K +2,067 +3%
Aviva
242
Aviva
United Kingdom
$2.48M -$6.77K -201 -0.2%
PIMJS
243
PKO Investment Management Joint-Stock
Poland
$2.45M – – –
MIP
244
Marietta Investment Partners
Wisconsin
$2.44M -$719K -21,332 -21%
PFA
245
Peak Financial Advisors
Colorado
$2.37M -$33.9K -1,006 -1%
EF
246
Empowered Funds
Pennsylvania
$2.35M +$447K +13,277 +21%
CIC
247
Carnegie Investment Counsel
Ohio
$2.34M -$430K -12,766 -14%
Northwestern Mutual Wealth Management
248
Northwestern Mutual Wealth Management
Wisconsin
$2.31M +$568K +16,851 +29%
MPM
249
Meritage Portfolio Management
Kansas
$2.31M -$187K -5,557 -7%
DZ Bank
250
DZ Bank
Germany
$2.29M +$371K +11,004 +17%
8 9
10
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CNQ Hedge Fund Activity: Q4 2024 in Review

626 of the 7,592 institutional investors tracked by Wall St. Rank reported a position in Canadian Natural Resources (CNQ) for Q4 2024, worth a combined $45.2B — down 10% from $50.3B a quarter earlier.

Buyers outnumbered sellers: 76 funds opened new CNQ positions and 65 closed out — a net gain of 11 holders — while 229 added to existing stakes and 232 trimmed.

The largest buyer was Fidelity Investments, adding an estimated $248M. The largest seller was Bank of America, cutting an estimated $558M.

  • 626 institutional investors held Canadian Natural Resources (CNQ) as of Q4 2024, up from 621 in Q3 2024.
  • Funds reported $45.2B of Canadian Natural Resources stock for Q4 2024, down 10% quarter-over-quarter.
  • 76 funds opened new Canadian Natural Resources positions in Q4 2024 and 65 closed out, a net change of +11 holders.
  • The largest Canadian Natural Resources buyer in Q4 2024 was Fidelity Investments, an estimated $248M added.
  • The largest Canadian Natural Resources seller in Q4 2024 was Bank of America, an estimated $558M sold.

Based on aggregated 13F filings for Q4 2024.