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Canadian Natural Resources
CNQ

304 hedge funds and large institutions have $16.1B invested in Canadian Natural Resources in 2015 Q4 according to their latest regulatory filings, with 24 funds opening new positions, 100 increasing their positions, 140 reducing their positions, and 46 closing their positions.

New
Increased
Maintained
Reduced
Closed

78% more funds holding in top 10

Funds holding in top 10: 9 → 16 (+7)

9% more capital invested

Capital invested by funds: $14.8B → $16.1B (+$1.33B)

3.87% less ownership

Funds ownership: 144.53% → 140.66% (-3.9%)

7% less funds holding

Funds holding: 328 → 304 (-24)

29% less repeat investments, than reductions

Existing positions increased: 100 | Existing positions reduced: 140

48% less first-time investments, than exits

New positions opened: 24 | Existing positions closed: 46

49% less call options, than puts

Call options by funds: $72.1M | Put options by funds: $142M

Holders
304
Holders Change
-24
Holders Change %
-7.32%
% of All Funds
7.97%
Holding in Top 10
16
Holding in Top 10 Change
+7
Holding in Top 10 Change %
+77.78%
% of All Funds
0.42%
New
24
Increased
100
Reduced
140
Closed
46
Calls
$72.1M
Puts
$142M
Net Calls
-$70.3M
Net Calls Change
-$77.4M

Top Buyers

1
Capital Research Global Investors
Capital Research Global Investors
California
+$495M
2
Fidelity Investments
Fidelity Investments
Massachusetts
+$167M
3
Capital International Investors
Capital International Investors
California
+$55.5M
4
SCM
Steadfast Capital Management
New York
+$54.7M
5
SCM
SIR Capital Management
New York
+$37.4M

Top Sellers

1
T. Rowe Price Associates
T. Rowe Price Associates
Maryland
-$204M
2
FCM
Fairholme Capital Management
Florida
-$199M
3
First Eagle Investment Management
First Eagle Investment Management
New York
-$153M
4
William Blair Investment Management
William Blair Investment Management
Illinois
-$96M
5
Toronto Dominion Bank
Toronto Dominion Bank
Ontario, Canada
-$94M
Name Holding Trade Value Shares
Change 		Change in
Stake
Capital Research Global Investors
1
Capital Research Global Investors
California
$2.34B +$495M +44,293,471 +25%
Royal Bank of Canada
2
Royal Bank of Canada
Ontario, Canada
$1.16B -$45.1M -4,038,526 -4%
T. Rowe Price Associates
3
T. Rowe Price Associates
Maryland
$1B -$204M -18,297,702 -16%
Fidelity Investments
4
Fidelity Investments
Massachusetts
$822M +$167M +14,968,340 +24%
Invesco
5
Invesco
Georgia
$525M +$22.4M +2,002,458 +4%
Wellington Management Group
6
Wellington Management Group
Massachusetts
$476M -$69.4M -6,209,357 -12%
Bank of Montreal
7
Bank of Montreal
Ontario, Canada
$475M -$34.8M -3,116,870 -6%
BGC
8
Beutel, Goodman & Co
Ontario, Canada
$439M +$22.6M +2,023,131 +5%
TD Asset Management
9
TD Asset Management
Ontario, Canada
$431M -$6.07M -543,142 -1%
Caisse de Depot et Placement du Quebec (CDPQ)
10
Caisse de Depot et Placement du Quebec (CDPQ)
Quebec, Canada
$421M +$20.3M +1,817,011 +5%
JFL
11
Jarislowsky, Fraser Ltd
Quebec, Canada
$402M -$7.2M -644,094 -2%
Vanguard Group
12
Vanguard Group
Pennsylvania
$384M +$27.1M +2,427,538 +7%
First Eagle Investment Management
13
First Eagle Investment Management
New York
$370M -$153M -13,731,476 -28%
LBA
14
Letko, Brosseau & Associates
Quebec, Canada
$336M -$406K -36,332 -0.1%
CIBC World Market
15
CIBC World Market
Ontario, Canada
$331M +$123K +11,038 +0%
CIBC Asset Management
16
CIBC Asset Management
Ontario, Canada
$303M -$6.4M -573,341 -2%
Connor, Clark & Lunn Investment Management (CC&L)
17
Connor, Clark & Lunn Investment Management (CC&L)
British Columbia, Canada
$255M +$11.3M +1,007,798 +4%
Boston Partners
18
Boston Partners
Massachusetts
$239M -$40.3M -3,611,719 -14%
Mackenzie Financial
19
Mackenzie Financial
Ontario, Canada
$219M +$29.4M +2,631,052 +15%
Toronto Dominion Bank
20
Toronto Dominion Bank
Ontario, Canada
$214M -$94M -8,415,414 -29%
Norges Bank
21
Norges Bank
Norway
$203M +$533K +47,692 +0.2%
IGIM
22
I.G. Investment Management
Manitoba, Canada
$199M -$35.1M -3,143,570 -14%
BAM
23
Burgundy Asset Management
Ontario, Canada
$176M +$1.31M +117,390 +0.7%
Fiera Capital (Canada)
24
Fiera Capital (Canada)
Quebec, Canada
$174M -$6.97M -623,561 -4%
GCC
25
Guardian Capital (Canada)
Ontario, Canada
$152M +$12M +1,071,536 +8%
1
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CNQ Hedge Fund Activity: Q4 2015 in Review

304 of the 3,812 institutional investors tracked by Wall St. Rank reported a position in Canadian Natural Resources (CNQ) for Q4 2015, worth a combined $16.1B — up 9% from $14.8B a quarter earlier.

Sellers outnumbered buyers: 46 funds closed out of CNQ and 24 opened new positions — a net loss of 22 holders — while 140 trimmed existing stakes and 100 added.

The largest buyer was Capital Research Global Investors, adding an estimated $495M. The largest seller was T. Rowe Price Associates, cutting an estimated $204M.

  • 304 institutional investors held Canadian Natural Resources (CNQ) as of Q4 2015, down from 328 in Q3 2015.
  • Funds reported $16.1B of Canadian Natural Resources stock for Q4 2015, up 9% quarter-over-quarter.
  • 24 funds opened new Canadian Natural Resources positions in Q4 2015 and 46 closed out, a net change of -22 holders.
  • The largest Canadian Natural Resources buyer in Q4 2015 was Capital Research Global Investors, an estimated $495M added.
  • The largest Canadian Natural Resources seller in Q4 2015 was T. Rowe Price Associates, an estimated $204M sold.

Based on aggregated 13F filings for Q4 2015.