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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
QI
626
QV Investors
Alberta, Canada
– -$21.1M -634,916 Closed
JC
627
JBF Capital
Colorado
– -$17.6M -529,298 Closed
Arrowstreet Capital
628
Arrowstreet Capital
Massachusetts
– -$12.3M -369,677 Closed
LBA
629
Letko, Brosseau & Associates
Quebec, Canada
– -$8.17M -245,646 Closed
CCS
630
Concentric Capital Strategies
Connecticut
– -$7.15M -215,238 Closed
Ohio Public Employees Retirement System (OPERS)
631
Ohio Public Employees Retirement System (OPERS)
Ohio
– -$5.99M -180,135 Closed
LHCM
632
Lloyd Harbor Capital Management
New York
– -$5.98M -180,000 Closed
IMCOOI
633
Investment Management Corp of Ontario (IMCO)
Canada
– -$4.81M -144,918 Closed
AAM
634
Azzad Asset Management
Virginia
– -$3.41M -102,667 Closed
DS
635
DRW Securities
Illinois
– -$3.76M -102,144 Closed
JAM
636
JCIC Asset Management
Ontario, Canada
– -$3.21M -96,820 Closed
SEC
637
Seven Eight Capital
New York
– -$3.13M -94,133 Closed
ERSOT
638
Employees Retirement System of Texas
Texas
– -$2.61M -78,520 Closed
HT
639
Headlands Technologies
Illinois
– -$2.5M -75,171 Closed
FF
640
Farrow Financial
Vermont
– -$1.84M -55,279 Closed
PP
641
PDT Partners
New York
– -$1.54M -46,300 Closed
FTDI
642
First Trust Direct Indexing
Massachusetts
– -$1.17M -35,088 Closed
UOTTAIMCU
643
University of Texas/Texas AM Investment Management Co (UTIMCO)
Texas
– -$1.04M -31,168 Closed
Janney Montgomery Scott
644
Janney Montgomery Scott
Pennsylvania
– -$893K -26,900 Closed
RC
645
RBF Capital
California
– -$797K -24,000 Closed
IAIM
646
International Assets Investment Management
Florida
– -$676 -22,450 Closed
CWM
647
CIBC World Markets
New York
– -$731K -22,000 Closed
SSA
648
Schonfeld Strategic Advisors
New York
– -$731K -22,000 Closed
LJAC
649
L.J. Altfest & Co
New York
– -$730K -21,975 Closed
XT
650
XTX Topco
Cayman Islands
– -$686K -20,643 Closed
24 25
26
27 28

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.