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Canadian Natural Resources
CNQ

368 hedge funds and large institutions have $26.4B invested in Canadian Natural Resources in 2014 Q1 according to their latest regulatory filings, with 62 funds opening new positions, 127 increasing their positions, 116 reducing their positions, and 29 closing their positions.

New
Increased
Maintained
Reduced
Closed

268% more call options, than puts

Call options by funds: $501M | Put options by funds: $136M

114% more first-time investments, than exits

New positions opened: 62 | Existing positions closed: 29

26% more funds holding in top 10

Funds holding in top 10: 34 → 43 (+9)

12% more capital invested

Capital invested by funds: $23.4B → $26.4B (+$2.91B)

8% more funds holding

Funds holding: 340 → 368 (+28)

9% more repeat investments, than reductions

Existing positions increased: 127 | Existing positions reduced: 116

1.98% less ownership

Funds ownership: 131.3% → 129.32% (-2%)

Holders
368
Holders Change
+28
Holders Change %
+8.24%
% of All Funds
10.63%
Holding in Top 10
43
Holding in Top 10 Change
+9
Holding in Top 10 Change %
+26.47%
% of All Funds
1.24%
New
62
Increased
127
Reduced
116
Closed
29
Calls
$501M
Puts
$136M
Net Calls
+$365M
Net Calls Change
+$362M

Top Buyers

1
GMI
Greystone Managed Investments
Saskatchewan, Canada
+$200M
2
MAMU
Marathon Asset Management (UK)
United Kingdom
+$103M
3
DCM
Discovery Capital Management
Connecticut
+$103M
4
Capital Research Global Investors
Capital Research Global Investors
California
+$84.3M
5
Bank of Montreal
Bank of Montreal
Ontario, Canada
+$75.3M

Top Sellers

1
Capital World Investors
Capital World Investors
California
-$515M
2
HCM
Highfields Capital Management
Massachusetts
-$182M
3
OTPPB
Ontario Teachers' Pension Plan Board
Ontario, Canada
-$181M
4
NIMC
NWQ Investment Management Company
California
-$134M
5
DSA
Davis Selected Advisers
Arizona
-$98.4M
Name Holding Trade Value Shares
Change 		Change in
Stake
Royal Bank of Canada
1
Royal Bank of Canada
Ontario, Canada
$2.05B -$96.7M -5,720,402 -5%
Fidelity Investments
2
Fidelity Investments
Massachusetts
$1.6B +$70.7M +4,182,856 +5%
DSA
3
Davis Selected Advisers
Arizona
$1.23B -$98.4M -5,821,738 -8%
Bank of Montreal
4
Bank of Montreal
Ontario, Canada
$1.06B +$75.3M +4,453,589 +8%
First Eagle Investment Management
5
First Eagle Investment Management
New York
$1.03B -$10.7M -633,434 -1%
HCM
6
Highfields Capital Management
Massachusetts
$819M -$182M -10,787,467 -20%
BGC
7
Beutel, Goodman & Co
Ontario, Canada
$800M +$726K +42,953 +0.1%
TD Asset Management
8
TD Asset Management
Ontario, Canada
$781M +$33.7M +1,994,289 +5%
Invesco
9
Invesco
Georgia
$752M -$52.8M -3,125,700 -7%
JFL
10
Jarislowsky, Fraser Ltd
Quebec, Canada
$694M +$48.1M +2,842,762 +8%
Capital Research Global Investors
11
Capital Research Global Investors
California
$653M +$84.3M +4,986,230 +16%
CIBC World Market
12
CIBC World Market
Ontario, Canada
$620M +$7.03M +415,646 +1%
CIBC Asset Management
13
CIBC Asset Management
Ontario, Canada
$601M -$22.4M -1,325,892 -4%
Toronto Dominion Bank
14
Toronto Dominion Bank
Ontario, Canada
$566M +$37.7M +2,229,584 +8%
LBA
15
Letko, Brosseau & Associates
Quebec, Canada
$554M -$13M -770,626 -3%
Wellington Management Group
16
Wellington Management Group
Massachusetts
$518M -$24.7M -1,459,086 -5%
Canada Life
17
Canada Life
Manitoba, Canada
$400M -$14.8M -877,191 -4%
Norges Bank
18
Norges Bank
Norway
$352M – – –
Connor, Clark & Lunn Investment Management (CC&L)
19
Connor, Clark & Lunn Investment Management (CC&L)
British Columbia, Canada
$349M -$12.8M -759,984 -4%
Fiera Capital (Canada)
20
Fiera Capital (Canada)
Quebec, Canada
$349M +$1.81M +107,147 +0.6%
Mackenzie Financial
21
Mackenzie Financial
Ontario, Canada
$341M +$60.2M +3,558,870 +24%
IGIM
22
I.G. Investment Management
Manitoba, Canada
$322M -$11.7M -693,896 -4%
Caisse de Depot et Placement du Quebec (CDPQ)
23
Caisse de Depot et Placement du Quebec (CDPQ)
Quebec, Canada
$305M -$5.3M -313,591 -2%
OTPPB
24
Ontario Teachers' Pension Plan Board
Ontario, Canada
$289M -$181M -10,688,547 -41%
1832 Asset Management
25
1832 Asset Management
Ontario, Canada
$289M +$69.4M +4,106,145 +35%
1
2 3 4 5

CNQ Hedge Fund Activity: Q1 2014 in Review

368 of the 3,462 institutional investors tracked by Wall St. Rank reported a position in Canadian Natural Resources (CNQ) for Q1 2014, worth a combined $26.4B — up 12% from $23.4B a quarter earlier.

Buyers outnumbered sellers: 62 funds opened new CNQ positions and 29 closed out — a net gain of 33 holders — while 127 added to existing stakes and 116 trimmed.

The largest buyer was Greystone Managed Investments, opening a new position worth an estimated $200M. The largest seller was Capital World Investors, cutting an estimated $515M.

  • 368 institutional investors held Canadian Natural Resources (CNQ) as of Q1 2014, up from 340 in Q4 2013.
  • Funds reported $26.4B of Canadian Natural Resources stock for Q1 2014, up 12% quarter-over-quarter.
  • 62 funds opened new Canadian Natural Resources positions in Q1 2014 and 29 closed out, a net change of +33 holders.
  • The largest Canadian Natural Resources buyer in Q1 2014 was Greystone Managed Investments, an estimated $200M added.
  • The largest Canadian Natural Resources seller in Q1 2014 was Capital World Investors, an estimated $515M sold.

Based on aggregated 13F filings for Q1 2014.