CANADIAN NAT RES LTD CNQ
COM · Common Stock · CUSIP 136385101 · ISIN CA1363851017
- SectorEnergy
- IndustryCrude Petroleum & Natural Gas
- FilingsSEC EDGAR
* 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
Numbers
| Quarter | Holders |
|---|---|
| Q3 2022 | 455 |
| Q4 2022 | 502 |
| Q1 2023 | 510 |
| Q2 2023 | 504 |
Buyers vs sellers
Managers adding to or starting a position, vs cutting or selling out
Numbers
| Quarter | Bought or added | Cut or sold out |
|---|---|---|
| Q4 2022 | 223 | 223 |
| Q1 2023 | 258 | 223 |
| Q2 2023 | 219 | 237 |
Calls vs puts
Options held, notional value, last 4 quarters. P/C = puts ÷ calls
Numbers
| Quarter | Calls | Puts | P/C |
|---|---|---|---|
| Q3 2022 | $243.0m | $429.4m | 1.77 |
| Q4 2022 | $1.2bn | $1.5bn | 1.20 |
| Q1 2023 | $318.8m | $484.4m | 1.52 |
| Q2 2023 | $345.1m | $494.5m | 1.43 |
Biggest buyers
| TORONTO DOMINION BANK | Added | +10.8m |
| T. Rowe Price Investment Management, Inc. | New | +9.5m |
| MUFG Securities EMEA plc | New | +6.1m |
| BANK OF NOVA SCOTIA | Added | +5.7m |
| BANK OF MONTREAL /CAN/ | Added | +5.6m |
| BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp | Added | +2.2m |
| Ninepoint Partners LP | Added | +1.8m |
| MANUFACTURERS LIFE INSURANCE COMPANY, THE | Added | +1.5m |
| VANGUARD GROUP INC | Added | +939.0k |
| Capital International Investors | Added | +818.5k |
Biggest sellers
| FMR LLC | Reduced | -57.5m |
| Capital Research Global Investors | Reduced | -11.6m |
| NATIONAL BANK OF CANADA /FI/ | Reduced | -7.8m |
| CANADA PENSION PLAN INVESTMENT BOARD | Reduced | -4.1m |
| HEALTHCARE OF ONTARIO PENSION PLAN TRUST FUND | Reduced | -2.7m |
| PRICE T ROWE ASSOCIATES INC /MD/ | Sold out | -2.2m |
| Canoe Financial LP | Reduced | -1.4m |
| CIBC WORLD MARKET INC. | Reduced | -1.3m |
| GOLDMAN SACHS GROUP INC | Reduced | -1.0m |
| Balyasny Asset Management L.P. | Reduced | -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.
| Holder | Stake |
|---|---|
| Capital World Investors 13G · institution filed 2025-05-13 | 10.0% |
| BlackRock, Inc. 13G · institution new · filed 2026-07-27 | 5.7% |
| Capital Research Global Investors 13G · institution -1.4 pts · filed 2026-08-12 | 5.6% |
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
| Manager | Shares | Change |
|---|---|---|
| Capital World Investors 1.61% of their portfolio | 148.9m $8.4bn | Reduced -741.7k |
| Capital Research Global Investors 1.39% of their portfolio | 92.2m $5.2bn | Reduced -11.6m |
| ROYAL BANK OF CANADA 0.98% of their portfolio | 62.3m $3.5bn | Reduced -260.2k |
| FMR LLC 0.24% of their portfolio | 49.9m $2.8bn | Reduced -57.5m |
| VANGUARD GROUP INC 0.06% of their portfolio | 42.2m $2.4bn | Added +939.0k |
| BANK OF MONTREAL /CAN/ 0.74% of their portfolio | 35.8m $2.0bn | Added +5.6m |
| CANADA PENSION PLAN INVESTMENT BOARD 2.28% of their portfolio | 26.7m $1.5bn | Reduced -4.1m |
| BANK OF NOVA SCOTIA 3.69% of their portfolio | 24.7m $1.4bn | Added +5.7m |
| FIL Ltd 1.49% of their portfolio | 23.6m $1.3bn | Reduced -570.5k |
| TORONTO DOMINION BANK 0.99% of their portfolio | 22.4m $1.3bn | Added +10.8m |
| TD Asset Management Inc 1.15% of their portfolio | 17.9m $1.0bn | Added +182.8k |
| MACKENZIE FINANCIAL CORP 1.50% of their portfolio | 17.4m $979.9m | Added +533.4k |
| YACKTMAN ASSET MANAGEMENT LP 8.06% of their portfolio | 15.1m $850.0m | Reduced -105.4k |
| 1832 Asset Management L.P. 1.64% of their portfolio | 15.0m $845.5m | Reduced -100.2k |
| CIBC Asset Management Inc 2.64% of their portfolio | 12.0m $672.7m | Reduced -138.8k |
| MANUFACTURERS LIFE INSURANCE COMPANY, THE 0.35% of their portfolio | 11.1m $624.0m | Added +1.5m |
| T. Rowe Price Investment Management, Inc. 0.36% of their portfolio | 9.5m $534.9m | New |
| NATIONAL BANK OF CANADA /FI/ 1.06% of their portfolio | 9.5m $532.5m | Reduced -7.8m |
| CIBC WORLD MARKET INC. 1.71% of their portfolio | 8.8m $496.8m | Reduced -1.3m |
| WELLINGTON MANAGEMENT GROUP LLP 0.08% of their portfolio | 7.8m $441.1m | Reduced -717.2k |
| Boston Partners 0.61% of their portfolio | 7.7m $453.1m | Added +102.4k |
| Capital International Investors 0.10% of their portfolio | 7.4m $417.2m | Added +818.5k |
| MUFG Securities EMEA plc 2.87% of their portfolio | 6.1m $452.0m | New |
| MORGAN STANLEY 0.03% of their portfolio | 5.5m $308.3m | Added +43.7k |
| HEALTHCARE OF ONTARIO PENSION PLAN TRUST FUND 1.34% of their portfolio | 5.3m $300.1m | Reduced -2.7m |
| Connor, Clark & Lunn Investment Management Ltd. 1.50% of their portfolio | 5.3m $299.8m | Added +362.5k |
| EdgePoint Investment Group Inc. 2.25% of their portfolio | 4.5m $250.5m | Reduced -95.8k |
| JPMORGAN CHASE & CO 0.03% of their portfolio | 4.3m $242.6m | Reduced -31.0k |
| Legal & General Group Plc 0.08% of their portfolio | 4.2m $237.9m | Reduced -71.5k |
| Swiss National Bank 0.16% of their portfolio | 4.2m $234.5m | Reduced -279.4k |
| JANUS HENDERSON GROUP PLC 0.15% of their portfolio | 4.2m $234.0m | Added +319.2k |
| AMERIPRISE FINANCIAL INC 0.07% of their portfolio | 4.1m $229.0m | Reduced -64.8k |
| GEODE CAPITAL MANAGEMENT, LLC 0.03% of their portfolio | 3.9m $222.2m | Added +207.3k |
| Invesco Ltd. 0.06% of their portfolio | 3.8m $215.9m | Added +86.3k |
| DIMENSIONAL FUND ADVISORS LP 0.07% of their portfolio | 3.8m $212.6m | Added +14.6k |
| Amundi 0.10% of their portfolio | 3.4m $189.5m | Added +158.3k |
| Alberta Investment Management Corp 1.74% of their portfolio | 3.2m $181.3m | Added +201.5k |
| FRANKLIN RESOURCES INC 0.08% of their portfolio | 2.9m $161.2m | Reduced -298.6k |
| AGF MANAGEMENT LTD 1.11% of their portfolio | 2.7m $153.3m | Reduced -93.6k |
| OMERS ADMINISTRATION Corp 2.31% of their portfolio | 2.6m $148.2m | Reduced -90.1k |
| MASSACHUSETTS FINANCIAL SERVICES CO /MA/ 0.05% of their portfolio | 2.5m $141.5m | Added +16.6k |
| TD Waterhouse Canada Inc. 1.85% of their portfolio | 2.5m $185.2m | Reduced -5.8k |
| BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp 1.31% of their portfolio | 2.5m $139.8m | Added +2.2m |
| BANK OF AMERICA CORP /DE/ 0.02% of their portfolio | 2.5m $137.9m | Added +529.8k |
| GUARDIAN CAPITAL LP 4.36% of their portfolio | 2.4m $136.3m | Reduced -21.6k |
| Sumitomo Mitsui Trust Group, Inc. 0.10% of their portfolio | 2.4m $132.2m | Reduced -501.6k |
| Waratah Capital Advisors Ltd. 5.51% of their portfolio | 1.9m $109.3m | Reduced -233.9k |
| SCOTIA CAPITAL INC. 0.74% of their portfolio | 1.9m $108.2m | Added +70.4k |
| Marathon Asset Management Ltd 3.04% of their portfolio | 1.9m $108.2m | Reduced -22.3k |
| Ninepoint Partners LP 12.89% of their portfolio | 1.8m $99.1m | Added +1.8m |
| Fiera Capital Corp 0.27% of their portfolio | 1.6m $92.5m | Reduced -19.4k |
| INGALLS & SNYDER LLC 4.41% of their portfolio | 1.6m $91.3m | Reduced -2.7k |
| LETKO, BROSSEAU & ASSOCIATES INC 1.70% of their portfolio | 1.6m $91.1m | Reduced -119.3k |
| GOLDMAN SACHS GROUP INC 0.02% of their portfolio | 1.4m $78.4m | Reduced -1.0m |
| CIDEL ASSET MANAGEMENT INC 3.54% of their portfolio | 1.4m $78.1m | Reduced -10.4k |
| DEUTSCHE BANK AG\ 0.04% of their portfolio | 1.3m $75.2m | Reduced -132.1k |
| Bank of New York Mellon Corp 0.02% of their portfolio | 1.3m $73.4m | Added +27.7k |
| Addenda Capital Inc. 4.06% of their portfolio | 1.3m $96.7m | Reduced -42.6k |
| Credential Qtrade Securities Inc. 4.26% of their portfolio | 1.2m $67.8m | Added +57.3k |
| Soroban Capital Partners LP 0.87% of their portfolio | 1.2m $64.7m | Unchanged |
| DekaBank Deutsche Girozentrale 0.14% of their portfolio | 1.1m $63.5m | Reduced -39.8k |
| Canoe Financial LP 1.22% of their portfolio | 1.0m $58.4m | Reduced -1.4m |
| TrinityBridge Ltd 2.61% of their portfolio | 990.0k $55.7m | Unchanged |
| CREDIT SUISSE AG/ 0.05% of their portfolio | 930.2k $52.3m | Reduced -48.5k |
| BlackRock Inc. 0.00% of their portfolio | 923.3k $51.9m | Reduced -36.7k |
| Dixon Mitchell Investment Counsel Inc. 2.92% of their portfolio | 905.3k $50.9m | Added +2.6k |
| GW&K Investment Management, LLC 0.48% of their portfolio | 898.4k $50.5m | Reduced -331.7k |
| MACQUARIE GROUP LTD 0.06% of their portfolio | 878.2k $49.4m | Reduced -23.7k |
| FIRST MANHATTAN CO. LLC. 0.18% of their portfolio | 860.8k $48.4m | Reduced -26.4k |
| Federation des caisses Desjardins du Quebec 0.51% of their portfolio | 849.1k $51.5m | Added +238.8k |
| Russell Investments Group, Ltd. 0.09% of their portfolio | 802.7k $45.2m | Added +47.8k |
| Triasima Portfolio Management inc. 3.64% of their portfolio | 773.4k $57.6m | Reduced -10.3k |
| MILLENNIUM MANAGEMENT LLC 0.05% of their portfolio | 772.6k $43.5m | Added +440.1k |
| Alyeska Investment Group, L.P. 0.32% of their portfolio | 740.8k $41.7m | Added +550.6k |
| Encompass Capital Advisors LLC 2.34% of their portfolio | 699.0k $39.3m | Reduced -478.2k |
| Brandywine Global Investment Management, LLC 0.32% of their portfolio | 690.3k $38.8m | Reduced -730.7k |
| BOWEN HANES & CO INC 1.23% of their portfolio | 684.8k $38.5m | Added +805 |
| Korea Investment CORP 0.11% of their portfolio | 674.1k $37.9m | Reduced -22.5k |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP 0.06% of their portfolio | 666.5k $37.5m | Reduced -3.9k |
| Point72 Asset Management, L.P. 0.13% of their portfolio | 660.6k $37.2m | New |
| LOOMIS SAYLES & CO L P 0.06% of their portfolio | 639.4k $36.0m | Added +190.5k |
| State of Tennessee, Department of Treasury 0.15% of their portfolio | 618.3k $34.8m | New |
| INTACT INVESTMENT MANAGEMENT INC. 1.35% of their portfolio | 590.1k $33.2m | Added +84.6k |
| Pacer Advisors, Inc. 0.12% of their portfolio | 550.6k $31.0m | Added +396.0k |
| HSBC HOLDINGS PLC 0.03% of their portfolio | 544.1k $30.6m | Added +8.9k |
| NORTHERN TRUST CORP 0.01% of their portfolio | 539.3k $30.3m | Added +4.1k |
| Galibier Capital Management Ltd. 6.02% of their portfolio | 466.0k $26.2m | Added +49.6k |
| Scheer, Rowlett & Associates Investment Management Ltd. 2.08% of their portfolio | 463.0k $26.0m | Added +13.9k |
| Zurcher Kantonalbank (Zurich Cantonalbank) 0.11% of their portfolio | 455.9k $25.7m | Added +153.4k |
| Baskin Financial Services Inc. 2.41% of their portfolio | 447.0k $25.1m | Added +6.0k |
| Forge First Asset Management Inc. 12.75% of their portfolio | 443.5k $25.0m | Reduced -22.6k |
| ALLIANCEBERNSTEIN L.P. 0.01% of their portfolio | 433.9k $24.4m | Added +166.0k |
| Polar Capital Holdings Plc 0.17% of their portfolio | 433.5k $24.4m | Reduced -2.5k |
| RENAISSANCE TECHNOLOGIES LLC 0.04% of their portfolio | 433.0k $24.4m | Reduced -50.3k |
| ExodusPoint Capital Management, LP 0.28% of their portfolio | 421.9k $23.7m | Added +415.1k |
| QV Investors Inc. 2.12% of their portfolio | 418.4k $23.5m | Reduced -10.2k |
| Point72 Europe (London) LLP 3.40% of their portfolio | 414.9k $23.3m | New |
| ROYAL LONDON ASSET MANAGEMENT LTD 0.07% of their portfolio | 401.6k $22.6m | Added +133.2k |
| O'SHAUGHNESSY ASSET MANAGEMENT, LLC 0.33% of their portfolio | 393.7k $22.1m | Added +39.2k |
| UNITED SERVICES AUTOMOBILE ASSOCIATION 0.61% of their portfolio | 377.1k $21.2m | Reduced -1.2k |