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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
Public Sector Pension Investment Board (PSP Investments)
176
Public Sector Pension Investment Board (PSP Investments)
Quebec, Canada
$6.54M -$2.6M -77,116 -27%
KPWS
177
Kestra Private Wealth Services
Texas
$6.47M +$637K +18,919 +10%
MSRPS
178
Maryland State Retirement & Pension System
Maryland
$6.31M +$156K +4,622 +2%
GQG Partners
179
GQG Partners
Florida
$5.69M +$6.21M +184,371 New
MAA
180
Mraz Amerine & Associates
California
$5.62M +$223K +6,616 +4%
PP
181
Pacifica Partners
Canada
$5.6M +$135K +4,005 +2%
ECP
182
Epacria Capital Partners
Colorado
$5.59M +$861K +25,561 +16%
SA
183
Sanctuary Advisors
Indiana
$5.47M -$272K -8,067 -4%
LI
184
Louisbourg Investments
New Brunswick, Canada
$5.42M -$1.35M -40,071 -19%
SCA
185
Stokes Capital Advisors
South Carolina
$5.39M +$114K +3,383 +2%
HAI
186
Hennessy Advisors Inc
California
$5.29M -$189K -5,600 -3%
FT
187
Fiduciary Trust
Massachusetts
$5.29M -$440K -13,070 -7%
MIM
188
Meixler Investment Management
Arizona
$5.28M +$718K +21,325 +14%
HighTower Advisors
189
HighTower Advisors
Illinois
$5.22M -$398K -11,816 -7%
PWS
190
Peterson Wealth Services
Utah
$5.16M +$163K +4,825 +3%
CP
191
Cumberland Partners
Ontario, Canada
$4.83M -$325K -9,641 -6%
HHAM
192
HITE Hedge Asset Management
Massachusetts
$4.79M +$5.23M +155,285 New
Commonwealth Equity Services
193
Commonwealth Equity Services
Massachusetts
$4.63M -$473K -14,036 -9%
TI
194
Trexquant Investment
Connecticut
$4.61M +$42.3K +1,255 +0.8%
Ensign Peak Advisors
195
Ensign Peak Advisors
Utah
$4.54M – – –
MIF
196
Mediolanum International Funds
Ireland
$4.45M +$2.3M +68,218 +86%
MNA
197
Manning & Napier Advisors
New York
$4.44M -$180K -5,356 -4%
IC
198
Immersion Capital
United Kingdom
$4.41M -$1.78M -52,800 -27%
EGA
199
Eagle Global Advisors
Texas
$4.4M – – –
HPG
200
Harvest Portfolios Group
Ontario, Canada
$4.4M +$552K +16,387 +13%
6 7
8
9 10

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.