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Canadian Natural Resources
CNQ

635 hedge funds and large institutions have $46.9B invested in Canadian Natural Resources in 2025 Q3 according to their latest regulatory filings, with 85 funds opening new positions, 235 increasing their positions, 205 reducing their positions, and 63 closing their positions.

New
Increased
Maintained
Reduced
Closed

35% more first-time investments, than exits

New positions opened: 85 | Existing positions closed: 63

15% more repeat investments, than reductions

Existing positions increased: 235 | Existing positions reduced: 205

3% more funds holding

Funds holding: 619 → 635 (+16)

0% more capital invested

Capital invested by funds: $46.7B → $46.9B (+$165M)

0.81% less ownership

Funds ownership: 71% → 70.19% (-0.81%)

5% less funds holding in top 10

Funds holding in top 10: 21 → 20 (-1)

20% less call options, than puts

Call options by funds: $632M | Put options by funds: $787M

Holders
635
Holders Change
+16
Holders Change %
+2.58%
% of All Funds
8.33%
Holding in Top 10
20
Holding in Top 10 Change
-1
Holding in Top 10 Change %
-4.76%
% of All Funds
0.26%
New
85
Increased
235
Reduced
205
Closed
63
Calls
$632M
Puts
$787M
Net Calls
-$155M
Net Calls Change
-$20.5M

Top Buyers

Rank Fund Capital Flow
1
Healthcare of Ontario Pension Plan (HOOPP) Trust Fund
Healthcare of Ontario Pension Plan (HOOPP) Trust Fund
Ontario, Canada
+$608M
2
Toronto Dominion Bank
Toronto Dominion Bank
Ontario, Canada
+$548M
3
Royal Bank of Canada
Royal Bank of Canada
Ontario, Canada
+$390M
4
Fidelity Investments
Fidelity Investments
Massachusetts
+$110M
5
Canada Pension Plan Investment Board
Canada Pension Plan Investment Board
Ontario, Canada
+$105M

Top Sellers

Rank Fund Capital Flow
1
Bank of Montreal
Bank of Montreal
Ontario, Canada
-$389M
2
Goldman Sachs
Goldman Sachs
New York
-$329M
3
T. Rowe Price Investment Management
T. Rowe Price Investment Management
Maryland
-$237M
4
CIBC World Market
CIBC World Market
Ontario, Canada
-$233M
5
National Bank of Canada
National Bank of Canada
Quebec, Canada
-$225M
Name Holding Trade Value Shares
Change 		Change in
Stake
CFO
601
CVA Family Office
Colorado
$2.65K -$1.57K -50 -38%
PTC
602
Private Trust Company
Ohio
$2.62K +$2.57K +82 New
BFS
603
Bare Financial Services
Pennsylvania
$2.52K – – –
WWA
604
Wealth Watch Advisors
Colorado
$2.37K +$2.32K +74 New
JWM
605
JPL Wealth Management
Colorado
$2.27K +$2.22K +71 New
PCM
606
Penserra Capital Management
California
$2K – – –
PWA
607
Provenance Wealth Advisors
Florida
$1.98K – – –
FCAS
608
First Command Advisory Services
Texas
$1.92K – – –
Optiver Holding
609
Optiver Holding
Netherlands
$1.89K +$1.85K +59 New
DWM
610
Darwin Wealth Management
Florida
$1.85K +$31 +1 +2%
WPA
611
Wealth Preservation Advisors
Tennessee
$1.66K – – –
SC
612
Swan Capital
Florida
$1.63K -$1.6K -51 -50%
SIS
613
Sound Income Strategies
Florida
$1.57K +$1.5K +48 New
VWA
614
Valued Wealth Advisors
Utah
$1.43K – – –
CIAM
615
Caitong International Asset Management
Hong Kong
$1.41K -$126K -4,034 -99%
NEWAS
616
N.E.W. Advisory Services
Wisconsin
$1.41K – – –
OCM
617
Orion Capital Management
California
$1.15K +$1.13K +36 New
CSC
618
Caldwell Sutter Capital
California
$1.09K – – –
CI
619
CX Institutional
Indiana
$1K – – –
VNA
620
Valley National Advisers
Pennsylvania
$1K – – –
OC
621
Oakworth Capital
Alabama
$959 – – –
T
622
Tidemark
California
$810 – – –
BHWM
623
Beaird Harris Wealth Management
Texas
$801 +$783 +25 New
PAM
624
Palisade Asset Management
Minnesota
$704 +$689 +22 New
Kayne Anderson Rudnick Investment Management
625
Kayne Anderson Rudnick Investment Management
California
$639 – – –
23 24
25
26 27

CNQ Hedge Fund Activity: Q3 2025 in Review

635 of the 7,619 institutional investors tracked by Wall St. Rank reported a position in Canadian Natural Resources (CNQ) for Q3 2025, worth a combined $46.9B — up 0.35% from $46.7B a quarter earlier.

Buyers outnumbered sellers: 85 funds opened new CNQ positions and 63 closed out — a net gain of 22 holders — while 235 added to existing stakes and 205 trimmed.

The largest buyer was Healthcare of Ontario Pension Plan (HOOPP) Trust Fund, adding an estimated $608M. The largest seller was Bank of Montreal, cutting an estimated $389M.

  • 635 institutional investors held Canadian Natural Resources (CNQ) as of Q3 2025, up from 619 in Q2 2025.
  • Funds reported $46.9B of Canadian Natural Resources stock for Q3 2025, up 0.35% quarter-over-quarter.
  • 85 funds opened new Canadian Natural Resources positions in Q3 2025 and 63 closed out, a net change of +22 holders.
  • The largest Canadian Natural Resources buyer in Q3 2025 was Healthcare of Ontario Pension Plan (HOOPP) Trust Fund, an estimated $608M added.
  • The largest Canadian Natural Resources seller in Q3 2025 was Bank of Montreal, an estimated $389M sold.

Based on aggregated 13F filings for Q3 2025.