Vault-13

CANADIAN NAT RES LTD CNQ

COM · Common Stock · CUSIP 136385101 · ISIN CA1363851017

504 institutional holders -6 vs Q1 2023
819,532,347819.5m shares reported held*
$46.4bnreported value*
46 new 173 added 182 reduced 55 sold out net sold ≈ $2.8bn (-49.0m shares)

* 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 ($330.7m this quarter). Holder counts are more reliable. Implied quarter-end price ≈ $56.63. Options: 27 managers hold calls ($345.1m notional), 26 hold puts ($494.5m).

Trends to Q2 2023

Institutional holders

Managers reporting a position, each quarter

0200400600Q3 22: 455Q4 22: 502Q1 23: 510Q2 23: 504504Q3 22Q4 22Q1 23Q2 23
Numbers
QuarterHolders
Q3 2022455
Q4 2022502
Q1 2023510
Q2 2023504

Buyers vs sellers

Managers adding to or starting a position, vs cutting or selling out

Bought or addedCut or sold out
4000400Q4 22: 223 bought or addedQ4 22: 223 cut or sold outQ4 22Q1 23: 258 bought or addedQ1 23: 223 cut or sold outQ1 23Q2 23: 219 bought or addedQ2 23: 237 cut or sold outQ2 23
Numbers
QuarterBought or addedCut or sold out
Q4 2022223223
Q1 2023258223
Q2 2023219237

Calls vs puts

Options held, notional value, last 4 quarters. P/C = puts ÷ calls

CallsPuts
$0$500m$1bn$1.5bnQ3 22 calls: $243.0mQ3 22 puts: $429.4mQ3 22P/C 1.77Q4 22 calls: $1.2bnQ4 22 puts: $1.5bnQ4 22P/C 1.20Q1 23 calls: $318.8mQ1 23 puts: $484.4mQ1 23P/C 1.52Q2 23 calls: $345.1mQ2 23 puts: $494.5mQ2 23P/C 1.43
Numbers
QuarterCallsPutsP/C
Q3 2022$243.0m$429.4m1.77
Q4 2022$1.2bn$1.5bn1.20
Q1 2023$318.8m$484.4m1.52
Q2 2023$345.1m$494.5m1.43

Biggest buyers

TORONTO DOMINION BANK Added +10,786,322+10.8m
T. Rowe Price Investment Management, Inc. New +9,507,379+9.5m
MUFG Securities EMEA plc New +6,071,800+6.1m
BANK OF NOVA SCOTIA Added +5,684,896+5.7m
BANK OF MONTREAL /CAN/ Added +5,646,629+5.6m
BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp Added +2,223,039+2.2m
Ninepoint Partners LP Added +1,750,000+1.8m
MANUFACTURERS LIFE INSURANCE COMPANY, THE Added +1,467,291+1.5m
VANGUARD GROUP INC Added +939,004+939.0k
Capital International Investors Added +818,528+818.5k

Biggest sellers

FMR LLC Reduced -57,491,694-57.5m
Capital Research Global Investors Reduced -11,590,701-11.6m
NATIONAL BANK OF CANADA /FI/ Reduced -7,754,774-7.8m
CANADA PENSION PLAN INVESTMENT BOARD Reduced -4,146,000-4.1m
HEALTHCARE OF ONTARIO PENSION PLAN TRUST FUND Reduced -2,686,000-2.7m
PRICE T ROWE ASSOCIATES INC /MD/ Sold out -2,207,989-2.2m
Canoe Financial LP Reduced -1,396,615-1.4m
CIBC WORLD MARKET INC. Reduced -1,328,743-1.3m
GOLDMAN SACHS GROUP INC Reduced -1,042,599-1.0m
Balyasny Asset Management L.P. Reduced -849,556-849.6k

Biggest calls

SUSQUEHANNA INTERNATIONAL GROUP, LLP Added $60.5m1.1m shares
SIG North Trading, ULC Added $47.6m845.7k shares
ROYAL BANK OF CANADA Reduced $34.5m613.5k shares
CIBC WORLD MARKET INC. Reduced $26.7m473.8k shares
BANK OF MONTREAL /CAN/ Added $24.2m430.0k shares
CITADEL ADVISORS LLC Reduced $23.9m424.8k shares
D. E. Shaw & Co., Inc. Reduced $18.5m329.5k shares
JANE STREET GROUP, LLC Added $18.1m321.6k shares
Waratah Capital Advisors Ltd. Unchanged $16.9m300.0k shares
SIMPLEX TRADING, LLC Added $16.0m284.6k shares

Biggest puts

ROYAL BANK OF CANADA Reduced $137.7m2.4m shares
CIBC WORLD MARKET INC. Reduced $83.0m1.5m shares
SIG North Trading, ULC Reduced $47.2m839.0k shares
BANK OF MONTREAL /CAN/ Added $45.0m800.0k shares
MILLENNIUM MANAGEMENT LLC Added $39.6m541.1k shares
JANE STREET GROUP, LLC Added $31.8m566.7k shares
CITADEL ADVISORS LLC Added $29.1m517.1k shares
SUSQUEHANNA INTERNATIONAL GROUP, LLP Added $28.4m504.9k shares
D. E. Shaw & Co., Inc. Reduced $15.8m280.5k shares
SIMPLEX TRADING, LLC Reduced $8.7m155.1k 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.

Major shareholders (over 5%)

Anyone who owns more than 5% of a class of the company's shares has to say so: on Schedule 13D if they may try to influence or control the company, on 13G if they're a passive investor, and update it as the stake changes. Each holder's latest filing, from 19 Dec 2024 on; percentages are of the share class, as the holder worked them out.

HolderStakeChangeShares Last filed
Capital World Investors 13G · institution filed 2025-05-13 10.0% 209.8m≈ $8.3bn 2025-05-13
BlackRock, Inc. 13G · institution new · filed 2026-07-27 5.7% new 117.9m≈ $4.7bn 2026-07-27
Capital Research Global Investors 13G · institution -1.4 pts · filed 2026-08-12 5.6% -1.4 pts 116.1m≈ $4.6bn 2026-08-12

Insider purchases and sales in Q2 2023

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.

None reported in Q2 2023.

Holders, Q2 2023

#ManagerLocationShares Value% of their portfolioChangeShares change
1 Capital World Investors 1.61% of their portfolio LOS ANGELES, CA 148,906,205148.9m $8.4bn $8.4bn 1.61% Reduced -741.7k -741,697
2 Capital Research Global Investors 1.39% of their portfolio Los Angeles, CA 92,178,97792.2m $5.2bn $5.2bn 1.39% Reduced -11.6m -11,590,701
3 ROYAL BANK OF CANADA 0.98% of their portfolio TORONTO, A6 62,337,82862.3m $3.5bn $3.5bn 0.98% Reduced -260.2k -260,215
4 FMR LLC 0.24% of their portfolio BOSTON, MA 49,859,58249.9m $2.8bn $2.8bn 0.24% Reduced -57.5m -57,491,694
5 VANGUARD GROUP INC 0.06% of their portfolio Valley Forge, PA 42,165,26042.2m $2.4bn $2.4bn 0.06% Added +939.0k +939,004
6 BANK OF MONTREAL /CAN/ 0.74% of their portfolio TORONTO, A6 35,840,71935.8m $2.0bn $2.0bn 0.74% Added +5.6m +5,646,629
7 CANADA PENSION PLAN INVESTMENT BOARD 2.28% of their portfolio TORONTO ONTARIO, A6 26,724,68926.7m $1.5bn $1.5bn 2.28% Reduced -4.1m -4,146,000
8 BANK OF NOVA SCOTIA 3.69% of their portfolio TORONTO, A6 24,739,04024.7m $1.4bn $1.4bn 3.69% Added +5.7m +5,684,896
9 FIL Ltd 1.49% of their portfolio HAMILTON, D0 23,570,56223.6m $1.3bn $1.3bn 1.49% Reduced -570.5k -570,483
10 TORONTO DOMINION BANK 0.99% of their portfolio TORONTO, ONTARIO, A6 22,399,38022.4m $1.3bn $1.3bn 0.99% Added +10.8m +10,786,322
11 TD Asset Management Inc 1.15% of their portfolio Toronto, A6 17,926,95517.9m $1.0bn $1.0bn 1.15% Added +182.8k +182,756
12 MACKENZIE FINANCIAL CORP 1.50% of their portfolio TORONTO ONTARIO, A6 17,431,59117.4m $979.9m $979.9m 1.50% Added +533.4k +533,430
13 YACKTMAN ASSET MANAGEMENT LP 8.06% of their portfolio AUSTIN, TX 15,108,45515.1m $850.0m $850.0m 8.06% Reduced -105.4k -105,374
14 1832 Asset Management L.P. 1.64% of their portfolio TORONTO, A6 15,028,68415.0m $845.5m $845.5m 1.64% Reduced -100.2k -100,167
15 CIBC Asset Management Inc 2.64% of their portfolio TORONTO, Z4 11,956,54312.0m $672.7m $672.7m 2.64% Reduced -138.8k -138,824
16 MANUFACTURERS LIFE INSURANCE COMPANY, THE 0.35% of their portfolio Toronto, A6 11,102,77211.1m $624.0m $624.0m 0.35% Added +1.5m +1,467,291
17 T. Rowe Price Investment Management, Inc. 0.36% of their portfolio BALTIMORE, MD 9,507,3799.5m $534.9m $534.9m 0.36% New
18 NATIONAL BANK OF CANADA /FI/ 1.06% of their portfolio MONTREAL, A8 9,478,3659.5m $532.5m $532.5m 1.06% Reduced -7.8m -7,754,774
19 CIBC WORLD MARKET INC. 1.71% of their portfolio TORONTO, A6 8,828,1118.8m $496.8m $496.8m 1.71% Reduced -1.3m -1,328,743
20 WELLINGTON MANAGEMENT GROUP LLP 0.08% of their portfolio Boston, MA 7,839,9607.8m $441.1m $441.1m 0.08% Reduced -717.2k -717,219
21 Boston Partners 0.61% of their portfolio BOSTON, MA 7,658,4347.7m $453.1m $453.1m 0.61% Added +102.4k +102,428
22 Capital International Investors 0.10% of their portfolio Los Angeles, CA 7,419,9317.4m $417.2m $417.2m 0.10% Added +818.5k +818,528
23 MUFG Securities EMEA plc 2.87% of their portfolio LONDON, X0 6,071,8006.1m $452.0m $452.0m 2.87% New
24 MORGAN STANLEY 0.03% of their portfolio NEW YORK, NY 5,480,0465.5m $308.3m $308.3m 0.03% Added +43.7k +43,729
25 HEALTHCARE OF ONTARIO PENSION PLAN TRUST FUND 1.34% of their portfolio TORONTO, A6 5,335,0005.3m $300.1m $300.1m 1.34% Reduced -2.7m -2,686,000
26 Connor, Clark & Lunn Investment Management Ltd. 1.50% of their portfolio VANCOUVER, A1 5,332,8675.3m $299.8m $299.8m 1.50% Added +362.5k +362,495
27 EdgePoint Investment Group Inc. 2.25% of their portfolio TORONTO, A6 4,455,9544.5m $250.5m $250.5m 2.25% Reduced -95.8k -95,768
28 JPMORGAN CHASE & CO 0.03% of their portfolio NEW YORK, NY 4,312,2074.3m $242.6m $242.6m 0.03% Reduced -31.0k -31,046
29 Legal & General Group Plc 0.08% of their portfolio London, X0 4,226,1424.2m $237.9m $237.9m 0.08% Reduced -71.5k -71,524
30 Swiss National Bank 0.16% of their portfolio ZURICH, V8 4,166,7314.2m $234.5m $234.5m 0.16% Reduced -279.4k -279,400
31 JANUS HENDERSON GROUP PLC 0.15% of their portfolio LONDON, X0 4,158,7224.2m $234.0m $234.0m 0.15% Added +319.2k +319,220
32 AMERIPRISE FINANCIAL INC 0.07% of their portfolio MINNEAPOLIS, MN 4,068,1434.1m $229.0m $229.0m 0.07% Reduced -64.8k -64,823
33 GEODE CAPITAL MANAGEMENT, LLC 0.03% of their portfolio BOSTON, MA 3,916,6563.9m $222.2m $222.2m 0.03% Added +207.3k +207,298
34 Invesco Ltd. 0.06% of their portfolio ATLANTA, GA 3,836,8423.8m $215.9m $215.9m 0.06% Added +86.3k +86,303
35 DIMENSIONAL FUND ADVISORS LP 0.07% of their portfolio AUSTIN, TX 3,778,8003.8m $212.6m $212.6m 0.07% Added +14.6k +14,594
36 Amundi 0.10% of their portfolio Paris, I0 3,365,5653.4m $189.5m $189.5m 0.10% Added +158.3k +158,269
37 Alberta Investment Management Corp 1.74% of their portfolio EDMONTON, A0 3,220,7313.2m $181.3m $181.3m 1.74% Added +201.5k +201,524
38 FRANKLIN RESOURCES INC 0.08% of their portfolio San Mateo, CA 2,866,9112.9m $161.2m $161.2m 0.08% Reduced -298.6k -298,639
39 AGF MANAGEMENT LTD 1.11% of their portfolio TORONTO, A6 2,726,1912.7m $153.3m $153.3m 1.11% Reduced -93.6k -93,565
40 OMERS ADMINISTRATION Corp 2.31% of their portfolio TORONTO, A6 2,633,7932.6m $148.2m $148.2m 2.31% Reduced -90.1k -90,100
41 MASSACHUSETTS FINANCIAL SERVICES CO /MA/ 0.05% of their portfolio Boston, MA 2,514,9862.5m $141.5m $141.5m 0.05% Added +16.6k +16,568
42 TD Waterhouse Canada Inc. 1.85% of their portfolio TORONTO, A6 2,489,7382.5m $185.2m $185.2m 1.85% Reduced -5.8k -5,816
43 BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp 1.31% of their portfolio VICTORIA, A1 2,486,8092.5m $139.8m $139.8m 1.31% Added +2.2m +2,223,039
44 BANK OF AMERICA CORP /DE/ 0.02% of their portfolio CHARLOTTE, NC 2,450,8832.5m $137.9m $137.9m 0.02% Added +529.8k +529,835
45 GUARDIAN CAPITAL LP 4.36% of their portfolio TORONTO, A6 2,420,8912.4m $136.3m $136.3m 4.36% Reduced -21.6k -21,617
46 Sumitomo Mitsui Trust Group, Inc. 0.10% of their portfolio CHIYODA-KU, TOKYO, M0 2,350,2182.4m $132.2m $132.2m 0.10% Reduced -501.6k -501,554
47 Waratah Capital Advisors Ltd. 5.51% of their portfolio TORONTO, A6 1,944,8141.9m $109.3m $109.3m 5.51% Reduced -233.9k -233,893
48 SCOTIA CAPITAL INC. 0.74% of their portfolio TORONTO, A6 1,926,6831.9m $108.2m $108.2m 0.74% Added +70.4k +70,379
49 Marathon Asset Management Ltd 3.04% of their portfolio London, X0 1,900,9071.9m $108.2m $108.2m 3.04% Reduced -22.3k -22,346
50 Ninepoint Partners LP 12.89% of their portfolio TORONTO, A6 1,760,9531.8m $99.1m $99.1m 12.89% Added +1.8m +1,750,000
51 Fiera Capital Corp 0.27% of their portfolio MONTREAL, A8 1,643,0341.6m $92.5m $92.5m 0.27% Reduced -19.4k -19,427
52 INGALLS & SNYDER LLC 4.41% of their portfolio NEW YORK, NY 1,622,3751.6m $91.3m $91.3m 4.41% Reduced -2.7k -2,719
53 LETKO, BROSSEAU & ASSOCIATES INC 1.70% of their portfolio MONTREAL, A8 1,618,0381.6m $91.1m $91.1m 1.70% Reduced -119.3k -119,340
54 GOLDMAN SACHS GROUP INC 0.02% of their portfolio NEW YORK, NY 1,393,0191.4m $78.4m $78.4m 0.02% Reduced -1.0m -1,042,599
55 CIDEL ASSET MANAGEMENT INC 3.54% of their portfolio TORONTO, A6 1,387,6231.4m $78.1m $78.1m 3.54% Reduced -10.4k -10,392
56 DEUTSCHE BANK AG\ 0.04% of their portfolio FRANKFURT AM MAIN, 2M 1,337,1721.3m $75.2m $75.2m 0.04% Reduced -132.1k -132,104
57 Bank of New York Mellon Corp 0.02% of their portfolio NEW YORK, NY 1,303,8301.3m $73.4m $73.4m 0.02% Added +27.7k +27,732
58 Addenda Capital Inc. 4.06% of their portfolio MONTREAL, A8 1,282,3131.3m $96.7m $96.7m 4.06% Reduced -42.6k -42,649
59 Credential Qtrade Securities Inc. 4.26% of their portfolio VANCOUVER, A1 1,205,3171.2m $67.8m $67.8m 4.26% Added +57.3k +57,314
60 Soroban Capital Partners LP 0.87% of their portfolio New York, NY 1,150,1061.2m $64.7m $64.7m 0.87% Unchanged
61 DekaBank Deutsche Girozentrale 0.14% of their portfolio FRANKFURT, 2M 1,126,1211.1m $63.5m $63.5m 0.14% Reduced -39.8k -39,807
62 Canoe Financial LP 1.22% of their portfolio CALGARY, A0 1,037,8401.0m $58.4m $58.4m 1.22% Reduced -1.4m -1,396,615
63 TrinityBridge Ltd 2.61% of their portfolio LONDON, X0 990,000990.0k $55.7m $55.7m 2.61% Unchanged
64 CREDIT SUISSE AG/ 0.05% of their portfolio ZURICH, V8 930,169930.2k $52.3m $52.3m 0.05% Reduced -48.5k -48,486
65 BlackRock Inc. 0.00% of their portfolio New York, NY 923,270923.3k $51.9m $51.9m 0.00% Reduced -36.7k -36,718
66 Dixon Mitchell Investment Counsel Inc. 2.92% of their portfolio VANCOUVER, A1 905,331905.3k $50.9m $50.9m 2.92% Added +2.6k +2,605
67 GW&K Investment Management, LLC 0.48% of their portfolio BOSTON, MA 898,419898.4k $50.5m $50.5m 0.48% Reduced -331.7k -331,713
68 MACQUARIE GROUP LTD 0.06% of their portfolio Sydney, NSW 2000, C3 878,182878.2k $49.4m $49.4m 0.06% Reduced -23.7k -23,704
69 FIRST MANHATTAN CO. LLC. 0.18% of their portfolio NEW YORK, NY 860,759860.8k $48.4m $48.4m 0.18% Reduced -26.4k -26,391
70 Federation des caisses Desjardins du Quebec 0.51% of their portfolio LEVIS, A8 849,081849.1k $51.5m $51.5m 0.51% Added +238.8k +238,814
71 Russell Investments Group, Ltd. 0.09% of their portfolio Seattle, WA 802,720802.7k $45.2m $45.2m 0.09% Added +47.8k +47,767
72 Triasima Portfolio Management inc. 3.64% of their portfolio MONTREAL, A8 773,437773.4k $57.6m $57.6m 3.64% Reduced -10.3k -10,279
73 MILLENNIUM MANAGEMENT LLC 0.05% of their portfolio NEW YORK, NY 772,582772.6k $43.5m $43.5m 0.05% Added +440.1k +440,144
74 Alyeska Investment Group, L.P. 0.32% of their portfolio CHICAGO, IL 740,846740.8k $41.7m $41.7m 0.32% Added +550.6k +550,637
75 Encompass Capital Advisors LLC 2.34% of their portfolio New York, NY 698,966699.0k $39.3m $39.3m 2.34% Reduced -478.2k -478,211
76 Brandywine Global Investment Management, LLC 0.32% of their portfolio PHILADELPHIA, PA 690,299690.3k $38.8m $38.8m 0.32% Reduced -730.7k -730,699
77 BOWEN HANES & CO INC 1.23% of their portfolio PONTE VEDRA BEACH, FL 684,835684.8k $38.5m $38.5m 1.23% Added +805 +805
78 Korea Investment CORP 0.11% of their portfolio SEOUL, M5 674,136674.1k $37.9m $37.9m 0.11% Reduced -22.5k -22,499
79 SUSQUEHANNA INTERNATIONAL GROUP, LLP 0.06% of their portfolio BALA CYNWYD, PA 666,500666.5k $37.5m $37.5m 0.06% Reduced -3.9k -3,920
80 Point72 Asset Management, L.P. 0.13% of their portfolio STAMFORD, CT 660,601660.6k $37.2m $37.2m 0.13% New
81 LOOMIS SAYLES & CO L P 0.06% of their portfolio BOSTON, MA 639,441639.4k $36.0m $36.0m 0.06% Added +190.5k +190,508
82 State of Tennessee, Department of Treasury 0.15% of their portfolio NASHVILLE, TN 618,276618.3k $34.8m $34.8m 0.15% New
83 INTACT INVESTMENT MANAGEMENT INC. 1.35% of their portfolio MONTREAL, A8 590,110590.1k $33.2m $33.2m 1.35% Added +84.6k +84,560
84 Pacer Advisors, Inc. 0.12% of their portfolio Malvern, PA 550,642550.6k $31.0m $31.0m 0.12% Added +396.0k +395,987
85 HSBC HOLDINGS PLC 0.03% of their portfolio LONDON, X0 544,143544.1k $30.6m $30.6m 0.03% Added +8.9k +8,904
86 NORTHERN TRUST CORP 0.01% of their portfolio CHICAGO, IL 539,267539.3k $30.3m $30.3m 0.01% Added +4.1k +4,067
87 Galibier Capital Management Ltd. 6.02% of their portfolio TORONTO, A6 466,039466.0k $26.2m $26.2m 6.02% Added +49.6k +49,614
88 Scheer, Rowlett & Associates Investment Management Ltd. 2.08% of their portfolio TORONTO, A6 463,004463.0k $26.0m $26.0m 2.08% Added +13.9k +13,915
89 Zurcher Kantonalbank (Zurich Cantonalbank) 0.11% of their portfolio ZURICH, V8 455,946455.9k $25.7m $25.7m 0.11% Added +153.4k +153,409
90 Baskin Financial Services Inc. 2.41% of their portfolio TORONTO, A6 447,009447.0k $25.1m $25.1m 2.41% Added +6.0k +5,995
91 Forge First Asset Management Inc. 12.75% of their portfolio TORONTO, Z4 443,500443.5k $25.0m $25.0m 12.75% Reduced -22.6k -22,600
92 ALLIANCEBERNSTEIN L.P. 0.01% of their portfolio NASHVILLE, TN 433,878433.9k $24.4m $24.4m 0.01% Added +166.0k +165,966
93 Polar Capital Holdings Plc 0.17% of their portfolio London, X0 433,515433.5k $24.4m $24.4m 0.17% Reduced -2.5k -2,451
94 RENAISSANCE TECHNOLOGIES LLC 0.04% of their portfolio NEW YORK, NY 433,000433.0k $24.4m $24.4m 0.04% Reduced -50.3k -50,300
95 ExodusPoint Capital Management, LP 0.28% of their portfolio NEW YORK, NY 421,875421.9k $23.7m $23.7m 0.28% Added +415.1k +415,103
96 QV Investors Inc. 2.12% of their portfolio CALGARY, A0 418,368418.4k $23.5m $23.5m 2.12% Reduced -10.2k -10,243
97 Point72 Europe (London) LLP 3.40% of their portfolio LONDON, X0 414,926414.9k $23.3m $23.3m 3.40% New
98 ROYAL LONDON ASSET MANAGEMENT LTD 0.07% of their portfolio UNITED KINGDOM, X0 401,602401.6k $22.6m $22.6m 0.07% Added +133.2k +133,199
99 O'SHAUGHNESSY ASSET MANAGEMENT, LLC 0.33% of their portfolio Stamford, CT 393,688393.7k $22.1m $22.1m 0.33% Added +39.2k +39,182
100 UNITED SERVICES AUTOMOBILE ASSOCIATION 0.61% of their portfolio SAN ANTONIO, TX 377,142377.1k $21.2m $21.2m 0.61% Reduced -1.2k -1,174