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 ($4.1m this quarter). Holder counts are more reliable. Shares outstanding: 270.6m as of 2026-07-30, 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 ≈ $48.61. Options: 6 managers hold calls ($7.2m notional), 3 hold puts ($1.8m).
Trends to Q2 2026
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 |
| Q3 2025 | 292 |
| Q4 2025 | 293 |
| Q1 2026 | 295 |
| Q2 2026 | 311 |
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 2024 | 148 | 98 |
| Q4 2024 | 140 | 105 |
| Q1 2025 | 132 | 109 |
| Q2 2025 | 140 | 126 |
| Q3 2025 | 163 | 120 |
| Q4 2025 | 157 | 135 |
| Q1 2026 | 157 | 135 |
| Q2 2026 | 158 | 138 |
Calls vs puts
Options held, notional value, last 4 quarters. P/C = puts ÷ calls
Numbers
| Quarter | Calls | Puts | P/C |
|---|---|---|---|
| Q3 2025 | $26.5m | $18.6k | 0.00 |
| Q4 2025 | $23.9k | $1.5m | 64.80 |
| Q1 2026 | $27.6k | $13.8k | 0.50 |
| Q2 2026 | $7.2m | $1.8m | 0.25 |
Biggest buyers
| MORGAN STANLEY | Added | +530.0k |
| MILLENNIUM MANAGEMENT LLC | Added | +461.0k |
| ARROWSTREET CAPITAL, LIMITED PARTNERSHIP | Added | +320.1k |
| WEALTH ENHANCEMENT ADVISORY SERVICES, LLC | Added | +238.5k |
| ExodusPoint Capital Management, LP | New | +221.4k |
| JPMORGAN CHASE & CO | Added | +196.9k |
| Quantinno Capital Management LP | Added | +182.0k |
| HRT FINANCIAL LP | Added | +167.9k |
| BARCLAYS PLC | Added | +167.1k |
| LSV ASSET MANAGEMENT | Added | +161.9k |
Biggest sellers
| FIRST TRUST ADVISORS LP | Reduced | -1.1m |
| AQR CAPITAL MANAGEMENT LLC | Reduced | -211.6k |
| Bridgewater Associates, LP | Sold out | -145.7k |
| Gotham Asset Management, LLC | Reduced | -139.3k |
| Lighthouse Investment Partners, LLC | Sold out | -137.7k |
| BlackRock, Inc. | Reduced | -133.4k |
| Creative Planning | Reduced | -124.7k |
| Vest Financial, LLC | Sold out | -76.0k |
| GOLDMAN SACHS GROUP INC | Reduced | -73.5k |
| TWO SIGMA INVESTMENTS, LP | Reduced | -70.4k |
Biggest calls
| JANE STREET GROUP, LLC | New | $3.7m75.4k shares |
| CITADEL ADVISORS LLC | New | $1.8m36.2k shares |
| SIMPLEX TRADING, LLC | Added | $894.4k18.4k shares |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | New | $806.9k16.6k shares |
| GROUP ONE TRADING LLC | Added | $34.0k700 shares |
| ELEVATION POINT WEALTH PARTNERS, LLC | New | $2.3k48 shares |
Biggest puts
| CITADEL ADVISORS LLC | New | $1.5m31.4k shares |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | New | $218.7k4.5k shares |
| GROUP ONE TRADING LLC | Unchanged | $14.6k300 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 since 1 Apr 2026
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 |
|---|---|---|---|---|---|
| Q4 2024 | 0 | — | 1 | $1.1m | — |
| Q1 2025 | 1 | $185.6k | 2 | $942.7k | $305.4k |
| Q2 2025 | 0 | — | 2 | $1.2m | $914.4k |
| Q3 2025 | 0 | — | 2 | $1.8m | $877.5k |
| Q4 2025 | 0 | — | 1 | $865.3k | $865.3k |
| Q1 2026 | 0 | — | 2 | $448.7k | $297.6k |
| Q2 2026 | 0 | — | 0 | — | — |
| Q3 2026 | 0 | — | 2 | $1.6m | — |
| Date | Insider | Trade | Value |
|---|---|---|---|
| 2026-08-04 | Franzetti Daniel Paul EVP & CAO | Sold | $1.2m22.7k shares |
| 2026-08-04 | James Mark Steven EVP, Chief Risk & Rein Off | Sold | $439.7k8.3k 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 2026
| Manager | Shares | Change |
|---|---|---|
| Loews Corp 96.43% of their portfolio | 248.4m $12.1bn | Unchanged |
| AQR CAPITAL MANAGEMENT LLC 0.05% of their portfolio | 2.8m $137.4m | Reduced -211.6k |
| BlackRock, Inc. 0.00% of their portfolio | 1.6m $80.2m | Reduced -133.4k |
| FIRST TRUST ADVISORS LP 0.03% of their portfolio | 1.0m $50.8m | Reduced -1.1m |
| MORGAN STANLEY 0.00% of their portfolio | 975.8k $47.4m | Added +530.0k |
| Quantinno Capital Management LP 0.05% of their portfolio | 867.2k $42.2m | Added +182.0k |
| CHARLES SCHWAB INVESTMENT MANAGEMENT INC 0.01% of their portfolio | 820.5k $39.9m | Added +63.4k |
| TWO SIGMA INVESTMENTS, LP 0.03% of their portfolio | 811.6k $39.5m | Reduced -70.4k |
| River Road Asset Management, LLC 0.43% of their portfolio | 802.4k $39.0m | Reduced -45.8k |
| CORDA Investment Management, LLC. 2.25% of their portfolio | 753.7k $36.6m | Added +23.5k |
| ARROWSTREET CAPITAL, LIMITED PARTNERSHIP 0.01% of their portfolio | 575.8k $28.0m | Added +320.1k |
| Torray Investment Partners LLC 3.42% of their portfolio | 522.2k $25.4m | Added +51.9k |
| MILLENNIUM MANAGEMENT LLC 0.02% of their portfolio | 500.6k $24.3m | Added +461.0k |
| Gotham Asset Management, LLC 0.05% of their portfolio | 479.5k $23.3m | Reduced -139.3k |
| STATE STREET CORP 0.00% of their portfolio | 471.7k $22.9m | Reduced -38.9k |
| JACOBS LEVY EQUITY MANAGEMENT, INC 0.07% of their portfolio | 429.0k $20.9m | Reduced -35.7k |
| LSV ASSET MANAGEMENT 0.04% of their portfolio | 427.0k $20.8m | Added +161.9k |
| UBS Group AG 0.00% of their portfolio | 390.1k $19.0m | Added +76.9k |
| VICTORY CAPITAL MANAGEMENT INC 0.01% of their portfolio | 382.9k $18.6m | Reduced -10.5k |
| GOLDMAN SACHS GROUP INC 0.00% of their portfolio | 377.0k $18.3m | Reduced -73.5k |
| NORGES BANK 0.00% of their portfolio | 345.2k $16.8m | Not comparable |
| GEODE CAPITAL MANAGEMENT, LLC 0.00% of their portfolio | 339.3k $16.5m | Reduced -32.9k |
| BARCLAYS PLC 0.00% of their portfolio | 291.9k $14.2m | Added +167.1k |
| Squarepoint Ops LLC 0.03% of their portfolio | 280.3k $13.6m | Added +55.7k |
| JPMORGAN CHASE & CO 0.00% of their portfolio | 262.2k $12.8m | Added +196.9k |
| VANGUARD CAPITAL MANAGEMENT LLC 0.00% of their portfolio | 261.6k $12.7m | Added +7.9k |
| WEALTH ENHANCEMENT ADVISORY SERVICES, LLC 0.02% of their portfolio | 254.9k $12.7m | Added +238.5k |
| CITADEL ADVISORS LLC 0.01% of their portfolio | 253.3k $12.3m | Added +110.0k |
| HRT FINANCIAL LP 0.03% of their portfolio | 236.8k $11.5m | Added +167.9k |
| ExodusPoint Capital Management, LP 0.10% of their portfolio | 221.4k $10.8m | New |
| Jump Financial, LLC 0.08% of their portfolio | 190.8k $9.3m | Added +146.7k |
| Connor, Clark & Lunn Investment Management Ltd. 0.02% of their portfolio | 190.6k $9.3m | Added +16.9k |
| MARSHALL WACE, LLP 0.01% of their portfolio | 179.1k $8.7m | Added +28.7k |
| NORTHERN TRUST CORP 0.00% of their portfolio | 164.9k $8.0m | Added +2.0k |
| Patrick Mauro Investment Advisor, INC. 3.99% of their portfolio | 163.2k $7.9m | Added +1.8k |
| Private Advisory Group LLC 0.44% of their portfolio | 161.6k $7.9m | Added +120.7k |
| D. E. Shaw & Co., Inc. 0.00% of their portfolio | 159.6k $7.8m | Added +90.4k |
| HSBC HOLDINGS PLC 0.00% of their portfolio | 155.2k $7.6m | Added +143.2k |
| BNP PARIBAS FINANCIAL MARKETS 0.00% of their portfolio | 143.3k $7.0m | Added +78.9k |
| Point72 Asset Management, L.P. 0.01% of their portfolio | 141.0k $6.9m | Added +115.9k |
| BANK OF AMERICA CORP /DE/ 0.00% of their portfolio | 140.9k $6.9m | Added +5.1k |
| Baird Financial Group, Inc. 0.01% of their portfolio | 132.3k $6.4m | Added +3.3k |
| Schonfeld Strategic Advisors LLC 0.03% of their portfolio | 128.7k $6.3m | Added +18.6k |
| VANGUARD FIDUCIARY TRUST CO 0.00% of their portfolio | 119.1k $5.8m | Added +2.8k |
| Edgestream Partners, L.P. 0.16% of their portfolio | 112.2k $5.5m | Reduced -6.8k |
| Invesco Ltd. 0.00% of their portfolio | 107.6k $5.2m | Added +19.9k |
| VANGUARD PORTFOLIO MANAGEMENT LLC 0.00% of their portfolio | 106.6k $5.2m | Reduced -932 |
| VOYA INVESTMENT MANAGEMENT LLC 0.00% of their portfolio | 105.7k $5.1m | Reduced -2.7k |
| DEUTSCHE BANK AG\ 0.00% of their portfolio | 102.5k $5.0m | Added +97.7k |
| Russell Investments Group, Ltd. 0.00% of their portfolio | 99.4k $4.8m | Reduced -16.3k |
| Creative Planning 0.00% of their portfolio | 95.4k $4.6m | Reduced -124.7k |
| SummitTX Capital, L.P. 0.12% of their portfolio | 93.4k $4.5m | Added +67.2k |
| MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. 0.01% of their portfolio | 88.0k $4.3m | Reduced -371 |
| Ilex Capital Partners (UK) LLP 0.08% of their portfolio | 77.2k $3.8m | New |
| CITIGROUP INC 0.00% of their portfolio | 76.2k $3.7m | Added +70.7k |
| OCCUDO QUANTITATIVE STRATEGIES LP 0.20% of their portfolio | 75.5k $3.7m | Added +28.1k |
| Trexquant Investment LP 0.02% of their portfolio | 73.3k $3.6m | Added +55.4k |
| RAYMOND JAMES FINANCIAL INC 0.00% of their portfolio | 69.4k $3.4m | Reduced -2.2k |
| AGF MANAGEMENT LTD 0.01% of their portfolio | 68.0k $3.3m | Reduced -5.5k |
| COMMONWEALTH EQUITY SERVICES, LLC 0.00% of their portfolio | 67.0k $3.3m | Added +3.9k |
| Nuveen, LLC 0.00% of their portfolio | 64.1k $3.1m | Added +22.2k |
| FRANKLIN RESOURCES INC 0.00% of their portfolio | 55.8k $2.7m | Added +24.9k |
| Corient Private Wealth LP 0.00% of their portfolio | 54.2k $2.6m | Reduced -37.7k |
| AE Wealth Management LLC 0.01% of their portfolio | 49.5k $2.4m | Added +3.9k |
| SUSQUEHANNA FUNDAMENTAL INVESTMENTS, LLC 0.05% of their portfolio | 49.4k $2.4m | Reduced -36.9k |
| Graham Capital Management, L.P. 0.06% of their portfolio | 48.3k $2.3m | Added +7.2k |
| Pathstone Holdings, LLC 0.01% of their portfolio | 48.1k $2.3m | Added +20.6k |
| Focus Partners Wealth 0.00% of their portfolio | 47.8k $2.3m | Added +20.5k |
| Rodgers Brothers Inc. 0.22% of their portfolio | 47.4k $2.3m | Reduced -3.1k |
| XTX Topco Ltd 0.03% of their portfolio | 47.3k $2.3m | New |
| Atom Investors LP 0.20% of their portfolio | 46.1k $2.2m | New |
| Aquatic Capital Management LLC 0.07% of their portfolio | 40.3k $2.0m | Added +11.7k |
| Hudson Portfolio Management LLC 1.47% of their portfolio | 39.9k $1.9m | Reduced -200 |
| HB Wealth Management, LLC 0.01% of their portfolio | 39.5k $1.9m | Added +17.7k |
| Quantbot Technologies LP 0.07% of their portfolio | 38.5k $1.9m | Added +34.3k |
| Brevan Howard Capital Management LP 0.03% of their portfolio | 38.4k $1.9m | Added +10.9k |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP 0.00% of their portfolio | 36.7k $1.8m | New |
| Bank of New York Mellon Corp 0.00% of their portfolio | 36.4k $1.8m | Reduced -40.2k |
| AMERIPRISE FINANCIAL INC 0.00% of their portfolio | 35.7k $1.7m | Reduced -1.6k |
| RHUMBLINE ADVISERS 0.00% of their portfolio | 35.1k $1.7m | Reduced -12.8k |
| Summit Trail Advisors, LLC 0.02% of their portfolio | 33.2k $1.6m | Added +8.6k |
| CAXTON ASSOCIATES LLP 0.03% of their portfolio | 32.6k $1.6m | Unchanged |
| SlateStone Wealth, LLC 0.12% of their portfolio | 32.5k $1.6m | Reduced -496 |
| Tidal Investments LLC 0.00% of their portfolio | 31.8k $1.5m | Reduced -3.2k |
| Uncommon Cents Investing LLC 0.31% of their portfolio | 29.8k $1.4m | Added +300 |
| TUDOR INVESTMENT CORP ET AL 0.01% of their portfolio | 29.4k $1.4m | New |
| Perigon Wealth Management, LLC 0.02% of their portfolio | 29.2k $1.4m | Added +16.0k |
| GSA CAPITAL PARTNERS LLP 0.09% of their portfolio | 29.2k $1.4m | Reduced -5.8k |
| MANUFACTURERS LIFE INSURANCE COMPANY, THE 0.00% of their portfolio | 29.0k $1.4m | Added +15.5k |
| Employees Retirement System of Texas 0.01% of their portfolio | 28.4k $1.4m | Unchanged |
| BRIDGEWAY CAPITAL MANAGEMENT, LLC 0.02% of their portfolio | 28.3k $1.4m | New |
| KORNITZER CAPITAL MANAGEMENT INC /KS 0.03% of their portfolio | 27.7k $1.3m | Added +17.2k |
| Convergence Financial, LLC 0.11% of their portfolio | 27.3k $1.3m | Reduced -248 |
| ROYAL BANK OF CANADA 0.00% of their portfolio | 26.6k $1.3m | Added +19.3k |
| INCEPTIONR LLC 0.32% of their portfolio | 26.5k $1.3m | Added +17.3k |
| GUGGENHEIM CAPITAL LLC 0.01% of their portfolio | 26.3k $1.3m | Added +10.9k |
| Regal Investment Advisors LLC 0.07% of their portfolio | 26.2k $1.3m | Added +6.0k |
| BURNEY CO/ 0.03% of their portfolio | 25.8k $1.3m | Added +1.3k |
| DIMENSIONAL FUND ADVISORS LP 0.00% of their portfolio | 24.3k $1.2m | Added +161 |
| Pacifica Capital Investments, LLC 0.40% of their portfolio | 24.1k $1.2m | Unchanged |