Canadian Natural Resources
CNQ
637 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, 236 increasing their positions, 205 reducing their positions, and 63 closing their positions.
35% more first-time investments, than exits
New positions opened: 85 | Existing positions closed: 63
15% more repeat investments, than reductions
Existing positions increased: 236 | Existing positions reduced: 205
3% more funds holding
Funds holding: 621 → 637 (+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
Top Buyers
Top Sellers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
Bank of Montreal
Toronto,
Ontario, Canada
|
-$389M |
| 2 |
Goldman Sachs
New York
|
-$329M |
| 3 |
T. Rowe Price Investment Management
Baltimore,
Maryland
|
-$237M |
| 4 |
CIBC World Market
Toronto,
Ontario, Canada
|
-$233M |
| 5 |
National Bank of Canada
Montreal,
Quebec, Canada
|
-$225M |
CNQ Hedge Fund Activity: Q3 2025 in Review
637 of the 7,639 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 236 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.
- 637 institutional investors held Canadian Natural Resources (CNQ) as of Q3 2025, up from 621 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.