CNA FINL CORP CNA
COM · Common Stock · CUSIP 126117100
American insurance company
* Summed across managers. Shares that two managers' reports both contain – a subsidiary's holdings that its parent's report includes too, or a sub-adviser's in its client's – are counted once ($4.4m this quarter). Holder counts are more reliable. Shares outstanding: 270.7m as of 2025-07-31, from the company's own SEC filing; the percentage can still exceed 100%: lent-out shares are counted by the lender and the buyer, and some reports overlap without saying so. Implied quarter-end price ≈ $46.52. Options: 3 managers hold calls ($45.9k notional), 3 hold puts ($23.0k).
Trends to Q2 2025
Institutional holders
Managers reporting a position, each quarter
Numbers
| Quarter | Holders |
|---|---|
| Q3 2022 | 196 |
| Q4 2022 | 225 |
| Q1 2023 | 215 |
| Q2 2023 | 209 |
| Q3 2023 | 209 |
| Q4 2023 | 225 |
| Q1 2024 | 241 |
| Q2 2024 | 246 |
| Q3 2024 | 278 |
| Q4 2024 | 275 |
| Q1 2025 | 268 |
| Q2 2025 | 267 |
Buyers vs sellers
Managers adding to or starting a position, vs cutting or selling out
Numbers
| Quarter | Bought or added | Cut or sold out |
|---|---|---|
| Q3 2023 | 88 | 104 |
| Q4 2023 | 111 | 90 |
| Q1 2024 | 123 | 95 |
| Q2 2024 | 124 | 112 |
| Q3 2024 | 148 | 98 |
| Q4 2024 | 140 | 105 |
| Q1 2025 | 132 | 109 |
| Q2 2025 | 140 | 126 |
Calls vs puts
Options held, notional value, last 4 quarters. P/C = puts ÷ calls
Numbers
| Quarter | Calls | Puts | P/C |
|---|---|---|---|
| Q3 2024 | $1.7m | $371.4k | 0.22 |
| Q4 2024 | $391.8k | $130.6k | 0.33 |
| Q1 2025 | $365.4k | $106.7k | 0.29 |
| Q2 2025 | $45.9k | $23.0k | 0.50 |
Biggest buyers
| RHUMBLINE ADVISERS | Added | +422.7k |
| NORTHERN TRUST CORP | Added | +378.6k |
| Torray Investment Partners LLC | Added | +325.7k |
| Bank of New York Mellon Corp | Added | +309.5k |
| HSBC HOLDINGS PLC | Added | +191.2k |
| BlackRock, Inc. | Added | +162.5k |
| Russell Investments Group, Ltd. | Added | +127.2k |
| BANK OF AMERICA CORP /DE/ | Added | +92.0k |
| Quantinno Capital Management LP | Added | +82.4k |
| AQR CAPITAL MANAGEMENT LLC | Added | +80.7k |
Biggest sellers
| FIRST TRUST ADVISORS LP | Reduced | -528.0k |
| RAYMOND JAMES FINANCIAL INC | Reduced | -186.3k |
| Alaska Permanent Fund Corp | Sold out | -158.5k |
| ARROWSTREET CAPITAL, LIMITED PARTNERSHIP | Reduced | -138.2k |
| River Road Asset Management, LLC | Reduced | -98.8k |
| LSV ASSET MANAGEMENT | Reduced | -87.9k |
| PGGM Investments | Sold out | -81.0k |
| VOLORIDGE INVESTMENT MANAGEMENT, LLC | Sold out | -66.1k |
| Schonfeld Strategic Advisors LLC | Sold out | -57.2k |
| Invesco Ltd. | Reduced | -40.3k |
Biggest calls
| GROUP ONE TRADING LLC | Reduced | $41.9k900 shares |
| SIMPLEX TRADING, LLC | Reduced | $4.0k100 shares |
| CONCOURSE FINANCIAL GROUP SECURITIES, INC. | Unchanged | $00 shares |
Biggest puts
| GROUP ONE TRADING LLC | New | $14.0k300 shares |
| SIMPLEX TRADING, LLC | New | $9.0k200 shares |
| CONCOURSE FINANCIAL GROUP SECURITIES, INC. | Unchanged | $00 shares |
Options at notional value: the value of the shares the contracts control, as filers report them, not what the options cost. Not included in the holders, shares or buying above.
Insider purchases and sales in Q2 2025
Shares bought or sold by the company's own officers, directors and 10% owners, in the open market or privately, as they reported to the SEC on Form 4 (due within two business days of the trade). Grants, option exercises, shares withheld for tax and gifts aren't included.
Officers and directors buying vs selling
Number of people, by quarter (10% owners not included)
Numbers
| Quarter | Buying | Bought | Selling | Sold | Sold under a plan |
|---|---|---|---|---|---|
| Q3 2023 | 0 | — | 0 | — | — |
| Q4 2023 | 0 | — | 2 | $1.4m | — |
| Q1 2024 | 0 | — | 0 | — | — |
| Q2 2024 | 0 | — | 1 | $1.0m | — |
| Q3 2024 | 0 | — | 4 | $2.8m | — |
| Q4 2024 | 0 | — | 1 | $1.1m | — |
| Q1 2025 | 1 | $185.6k | 2 | $942.7k | $305.4k |
| Q2 2025 | 0 | — | 2 | $1.2m | $914.4k |
| Date | Insider | Trade | Value |
|---|---|---|---|
| 2025-06-02 | Robusto Dino Executive Chairman, director | Sold plan | $297.7k6.2k shares |
| 2025-05-20 | James Mark Steven EVP, Chief Risk & Rein Off | Sold | $242.5k5.0k shares |
| 2025-05-01 | Robusto Dino Executive Chairman, director | Sold plan | $297.6k6.2k shares |
| 2025-04-01 | Robusto Dino Executive Chairman, director | Sold plan | $319.1k6.2k shares |
Their holding: how much the trade added to or took from the insider's holding (direct, or the trust or fund named). The same trade is sometimes reported by more than one insider, such as a fund and the director who represents it; totals count it once. A value is left blank where the reported price is far from the market price (usually a typo).
Holders, Q2 2025
| Manager | Shares | Change |
|---|---|---|
| Loews Corp 95.89% of their portfolio | 248.4m $11.6bn | Unchanged |
| AQR CAPITAL MANAGEMENT LLC 0.09% of their portfolio | 2.4m $112.8m | Added +80.7k |
| BlackRock, Inc. 0.00% of their portfolio | 1.7m $79.1m | Added +162.5k |
| Bank of New York Mellon Corp 0.01% of their portfolio | 1.5m $69.8m | Added +309.5k |
| FIRST TRUST ADVISORS LP 0.04% of their portfolio | 1.0m $47.8m | Reduced -528.0k |
| River Road Asset Management, LLC 0.50% of their portfolio | 881.7k $39.1m | Reduced -98.8k |
| CHARLES SCHWAB INVESTMENT MANAGEMENT INC 0.01% of their portfolio | 871.5k $40.6m | Added +8.8k |
| LSV ASSET MANAGEMENT 0.09% of their portfolio | 870.4k $40.5m | Reduced -87.9k |
| NORTHERN TRUST CORP 0.00% of their portfolio | 696.4k $32.4m | Added +378.6k |
| CORDA Investment Management, LLC. 2.34% of their portfolio | 684.8k $31.9m | Added +18.9k |
| VANGUARD GROUP INC 0.00% of their portfolio | 544.7k $25.3m | Reduced -12.0k |
| MORGAN STANLEY 0.00% of their portfolio | 513.4k $23.9m | Added +68.8k |
| RHUMBLINE ADVISERS 0.02% of their portfolio | 495.9k $23.1m | Added +422.7k |
| Torray Investment Partners LLC 2.86% of their portfolio | 422.9k $19.7m | Added +325.7k |
| UBS Group AG 0.00% of their portfolio | 403.6k $18.8m | Added +64.6k |
| STATE STREET CORP 0.00% of their portfolio | 399.6k $18.6m | Reduced -27.7k |
| JACOBS LEVY EQUITY MANAGEMENT, INC 0.07% of their portfolio | 387.1k $18.0m | Added +67.0k |
| NORGES BANK 0.00% of their portfolio | 371.1k $17.3m | Added +21.9k |
| GEODE CAPITAL MANAGEMENT, LLC 0.00% of their portfolio | 330.2k $15.4m | Reduced -3.9k |
| GOLDMAN SACHS GROUP INC 0.00% of their portfolio | 320.0k $14.9m | Reduced -32.0k |
| Gotham Asset Management, LLC 0.08% of their portfolio | 298.2k $13.9m | Added +80.2k |
| ALTRINSIC GLOBAL ADVISORS LLC 0.47% of their portfolio | 280.0k $13.0m | Reduced -951 |
| HSBC HOLDINGS PLC 0.01% of their portfolio | 260.1k $12.0m | Added +191.2k |
| Russell Investments Group, Ltd. 0.01% of their portfolio | 214.6k $10.0m | Added +127.2k |
| ARROWSTREET CAPITAL, LIMITED PARTNERSHIP 0.01% of their portfolio | 185.3k $8.6m | Reduced -138.2k |
| BANK OF AMERICA CORP /DE/ 0.00% of their portfolio | 183.6k $8.5m | Added +92.0k |
| Cyndeo Wealth Partners, LLC 0.43% of their portfolio | 155.9k $7.3m | Added +10.2k |
| MARSHALL WACE, LLP 0.01% of their portfolio | 155.1k $7.2m | Added +14.0k |
| Quantinno Capital Management LP 0.03% of their portfolio | 151.8k $7.1m | Added +82.4k |
| Patrick Mauro Investment Advisor, INC. 3.73% of their portfolio | 145.7k $6.6m | Added +17.0k |
| AMERICAN CENTURY COMPANIES INC 0.00% of their portfolio | 144.8k $6.7m | Added +120 |
| Connor, Clark & Lunn Investment Management Ltd. 0.02% of their portfolio | 141.7k $6.6m | Added +47.9k |
| MARTINGALE ASSET MANAGEMENT L P 0.14% of their portfolio | 125.8k $5.9m | Reduced -13.5k |
| Baird Financial Group, Inc. 0.01% of their portfolio | 122.2k $5.7m | Added +510 |
| TWO SIGMA ADVISERS, LP 0.01% of their portfolio | 121.7k $5.7m | Reduced -11.6k |
| BARCLAYS PLC 0.00% of their portfolio | 121.0k $5.6m | Added +77.6k |
| MILLENNIUM MANAGEMENT LLC 0.00% of their portfolio | 118.8k $5.5m | Reduced -5.0k |
| CITADEL ADVISORS LLC 0.00% of their portfolio | 96.8k $4.5m | Added +33.1k |
| IEQ CAPITAL, LLC 0.03% of their portfolio | 88.0k $4.1m | Reduced -24.1k |
| Capula Management Ltd 0.05% of their portfolio | 87.9k $4.1m | Added +68.0k |
| Invesco Ltd. 0.00% of their portfolio | 87.4k $4.1m | Reduced -40.3k |
| TWO SIGMA INVESTMENTS, LP 0.01% of their portfolio | 80.5k $3.7m | Reduced -26.2k |
| VOYA INVESTMENT MANAGEMENT LLC 0.00% of their portfolio | 80.2k $3.7m | New |
| RAYMOND JAMES FINANCIAL INC 0.00% of their portfolio | 78.7k $3.7m | Reduced -186.3k |
| RENAISSANCE TECHNOLOGIES LLC 0.00% of their portfolio | 76.5k $3.6m | Added +42.2k |
| BANK OF NOVA SCOTIA 0.01% of their portfolio | 74.2k $3.5m | Added +67.8k |
| TUDOR INVESTMENT CORP ET AL 0.03% of their portfolio | 72.9k $3.4m | Added +65.5k |
| STRS OHIO 0.01% of their portfolio | 67.8k $3.2m | Added +6.4k |
| AGF MANAGEMENT LTD 0.01% of their portfolio | 63.9k $3.0m | Added +8.3k |
| HighTower Advisors, LLC 0.00% of their portfolio | 63.7k $3.0m | Added +3.1k |
| COMMONWEALTH EQUITY SERVICES, LLC 0.00% of their portfolio | 57.1k $2.7m | Added +234 |
| TWINBEECH CAPITAL LP 0.06% of their portfolio | 54.6k $2.5m | New |
| Balyasny Asset Management L.P. 0.01% of their portfolio | 50.8k $2.4m | New |
| Lighthouse Investment Partners, LLC 0.09% of their portfolio | 45.6k $2.1m | New |
| Aquatic Capital Management LLC 0.04% of their portfolio | 41.1k $1.9m | Reduced -4.3k |
| Hudson Portfolio Management LLC 1.76% of their portfolio | 40.5k $1.9m | Reduced -200 |
| Bridgewater Associates, LP 0.01% of their portfolio | 36.1k $1.7m | Reduced -8.4k |
| WELLINGTON MANAGEMENT GROUP LLP 0.00% of their portfolio | 35.4k $1.6m | Reduced -4.9k |
| FRANKLIN RESOURCES INC 0.00% of their portfolio | 35.0k $1.6m | Added +4.3k |
| AE Wealth Management LLC 0.01% of their portfolio | 33.4k $1.6m | Reduced -208 |
| Creative Planning 0.00% of their portfolio | 33.0k $1.5m | Added +10.8k |
| VICTORY CAPITAL MANAGEMENT INC 0.00% of their portfolio | 32.8k $1.5m | Added +253 |
| Nuveen, LLC 0.00% of their portfolio | 31.5k $1.5m | Reduced -4.9k |
| Squarepoint Ops LLC 0.00% of their portfolio | 30.8k $1.4m | Added +16.5k |
| BNP PARIBAS FINANCIAL MARKETS 0.00% of their portfolio | 30.3k $1.4m | Added +25.0k |
| CAPTRUST FINANCIAL ADVISORS 0.00% of their portfolio | 29.8k $1.4m | Reduced -1.9k |
| NISA INVESTMENT ADVISORS, LLC 0.01% of their portfolio | 28.8k $1.3m | Reduced -9.3k |
| GSA CAPITAL PARTNERS LLP 0.09% of their portfolio | 28.1k $1.3m | Added +983 |
| AlphaQuest LLC 0.12% of their portfolio | 27.3k $1.3m | Reduced -31.9k |
| OCCUDO QUANTITATIVE STRATEGIES LP 0.14% of their portfolio | 27.1k $1.3m | Reduced -5.4k |
| WEALTH ENHANCEMENT ADVISORY SERVICES, LLC 0.00% of their portfolio | 26.8k $1.2m | Reduced -1.1k |
| Uncommon Cents Investing LLC 0.33% of their portfolio | 26.6k $1.2m | Added +1.6k |
| AMERIPRISE FINANCIAL INC 0.00% of their portfolio | 26.5k $1.2m | Added +2.2k |
| Engineers Gate Manager LP 0.02% of their portfolio | 26.5k $1.2m | Added +11.9k |
| Illinois Municipal Retirement Fund 0.02% of their portfolio | 26.0k $1.2m | Added +1.3k |
| Ethic Inc. 0.02% of their portfolio | 26.0k $1.2m | Added +1.1k |
| SlateStone Wealth, LLC 0.11% of their portfolio | 26.0k $1.2m | Added +2.6k |
| Graham Capital Management, L.P. 0.04% of their portfolio | 25.7k $1.2m | New |
| APG Asset Management N.V. 0.00% of their portfolio | 25.5k $1.0m | Reduced -100 |
| CWM, LLC 0.00% of their portfolio | 25.5k $1.2m | Reduced -6.8k |
| Pacifica Capital Investments, LLC 0.35% of their portfolio | 25.3k $1.2m | Added +1.7k |
| Legal & General Group Plc 0.00% of their portfolio | 25.2k $1.2m | Reduced -11.6k |
| NINE MASTS CAPITAL Ltd 0.45% of their portfolio | 24.8k $1.2m | New |
| Mariner, LLC 0.00% of their portfolio | 23.5k $1.1m | Added +2.5k |
| Mork Capital Management, LLC 0.80% of their portfolio | 23.5k $1.1m | Unchanged |
| BURNEY CO/ 0.04% of their portfolio | 23.5k $1.1m | Added +2.0k |
| Pathstone Holdings, LLC 0.00% of their portfolio | 23.4k $1.1m | Reduced -2.3k |
| CAXTON ASSOCIATES LLP 0.03% of their portfolio | 22.8k $1.1m | Unchanged |
| Jump Financial, LLC 0.01% of their portfolio | 22.3k $1.0m | Added +4.4k |
| DIMENSIONAL FUND ADVISORS LP 0.00% of their portfolio | 22.0k $1.0m | Reduced -54 |
| Machina Capital S.A.S. 0.21% of their portfolio | 21.8k $1.0m | Added +13.1k |
| Board of the Pension Protection Fund 1.08% of their portfolio | 21.5k $1.0m | New |
| STATE BOARD OF ADMINISTRATION OF FLORIDA RETIREMENT SYSTEM 0.00% of their portfolio | 20.9k $970.6k | Reduced -830 |
| GREENWOOD CAPITAL ASSOCIATES LLC 0.12% of their portfolio | 20.6k $957.3k | Reduced -438 |
| Blue Capital, Inc. 0.66% of their portfolio | 20.0k $930.6k | First filing |
| UBS AM, a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC 0.00% of their portfolio | 19.9k $927.8k | Unchanged |
| MACQUARIE GROUP LTD 0.00% of their portfolio | 19.9k $926.0k | Reduced -20.5k |
| Mirae Asset Global Investments Co., Ltd. 0.00% of their portfolio | 19.7k $916.6k | Added +2.0k |
| Ballentine Partners, LLC 0.01% of their portfolio | 19.0k $883.6k | Added +3 |
| BRANDES INVESTMENT PARTNERS, LP 0.01% of their portfolio | 18.3k $849.8k | Added +666 |