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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
LIP
651
Lighthouse Investment Partners
Florida
– -$1.97M -62,882 Closed
HIP
652
HUB Investment Partners
Texas
– -$1.9M -60,519 Closed
GAM
653
Gotham Asset Management
New York
– -$1.69M -53,958 Closed
WT
654
Whittier Trust
California
– -$1.65M -52,446 Closed
AFM
655
Anson Funds Management
Texas
– -$1.26M -40,000 Closed
SAM
656
Shell Asset Management
Netherlands
– -$1.19M -38,072 Closed
MYIA
657
Mount Yale Investment Advisors
Colorado
– -$1.19M -37,995 Closed
VAS
658
Vestmark Advisory Solutions
Massachusetts
– -$1.05M -33,340 Closed
BCM
659
Bayesian Capital Management
New York
– -$892K -28,400 Closed
AG
660
Algert Global
California
– -$785K -25,089 Closed
WTC
661
WhitTier Trust Company
Nevada
– -$767K -24,433 Closed
YIH
662
Y-Intercept (HK)
Hong Kong
– -$764K -24,331 Closed
WA
663
Wealthstar Advisors
Texas
– -$589K -18,770 Closed
OCAM
664
Onex Canada Asset Management
Ontario, Canada
– -$526K -16,753 Closed
DTL
665
Dynamic Technology Lab
Singapore
– -$524K -16,668 Closed
QC
666
Quadrature Capital
United Kingdom
– -$471K -15,015 Closed
ERSOT
667
Employees Retirement System of Texas
Texas
– -$441K -14,045 Closed
BC
668
Bayforest Capital
United Kingdom
– -$375K -11,952 Closed
SPC
669
Sigma Planning Corp
Michigan
– -$369K -11,761 Closed
FRM
670
Fox Run Management
Connecticut
– -$326K -10,367 Closed
IC
671
Iconiq Capital
California
– -$311K -9,902 Closed
PL
672
Plancorp LLC
Missouri
– -$250K -7,970 Closed
FAIM
673
Financial Advocates Investment Management
Washington
– -$239K -7,612 Closed
QWM
674
Quadcap Wealth Management
Texas
– -$224K -7,123 Closed
TSMHT
675
Thurston Springer Miller Herd & Titak
Indiana
– -$176K -5,613 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.