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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
DF
626
DecisionPoint Financial
Arizona
$572 – – –
BIA
627
Bell Investment Advisors
California
$512 +$501 +16 New
CTC
628
Central Trust Company
Missouri
$512 +$501 +16 New
MG
629
Mather Group
Illinois
$511 +$501 +16 New
PWA
630
Physician Wealth Advisors
Utah
$480 +$470 +15 New
FFA
631
Frazier Financial Advisors
Ohio
$324 +$313 +10 New
KG
632
Kilter Group
New York
$288 – – –
BWL
633
Bogart Wealth LLC
Virginia
$256 -$31 -1 -11%
GWSG
634
GPS Wealth Strategies Group
Colorado
$160 – – –
AUB
635
Atlantic Union Bankshares
Virginia
$17 – – –
Alyeska Investment Group
636
Alyeska Investment Group
Illinois
– -$79.1M -2,520,031 Closed
UBS AM
637
UBS AM
Illinois
– -$36.3M -1,155,669 Closed
Holocene Advisors
638
Holocene Advisors
New York
– -$29.8M -948,238 Closed
PE
639
Point72 Europe
United Kingdom
– -$24M -762,447 Closed
Point72 Asset Management
640
Point72 Asset Management
Connecticut
– -$17.7M -566,108 Closed
ECM
641
ExodusPoint Capital Management
New York
– -$7.72M -245,900 Closed
SG Americas Securities
642
SG Americas Securities
New York
– -$6.77M -215,727 Closed
CWP
643
Capital Wealth Planning
Florida
– -$5.8M -184,685 Closed
BCM
644
Barometer Capital Management
Ontario, Canada
– -$6.42M -150,000 Closed
TI
645
Trexquant Investment
Connecticut
– -$4.46M -142,082 Closed
DFG
646
Dupree Financial Group
Kentucky
– -$4.16M -132,468 Closed
CIM
647
Cambria Investment Management
California
– -$3.42M -108,781 Closed
NRD
648
Nebula Research & Development
New York
– -$2.87M -91,324 Closed
Axa
649
Axa
France
– -$2.69M -85,713 Closed
GCM
650
GeoSphere Capital Management
Florida
– -$2.35M -75,000 Closed
24 25
26
27 28

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.