CANADIAN NAT RES LTD CNQ
COM · Common Stock · CUSIP 136385101 · ISIN CA1363851017
- SectorEnergy
- IndustryCrude Petroleum & Natural Gas
- FilingsSEC EDGAR
Q1 2024 share counts are adjusted for a 2-for-1 stock split, so holders aren't shown as buying or selling because of it.
* 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 ($442.7m this quarter). Holder counts are more reliable. Implied quarter-end price ≈ $35.69. Options: 31 managers hold calls ($314.8m notional), 28 hold puts ($408.6m).
Trends to Q2 2024
Institutional holders
Managers reporting a position, each quarter
Numbers
| Quarter | Holders |
|---|---|
| Q3 2022 | 455 |
| Q4 2022 | 502 |
| Q1 2023 | 510 |
| Q2 2023 | 504 |
| Q3 2023 | 537 |
| Q4 2023 | 565 |
| Q1 2024 | 601 |
| Q2 2024 | 616 |
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 |
| Q3 2023 | 252 | 223 |
| Q4 2023 | 269 | 239 |
| Q1 2024 | 319 | 236 |
| Q2 2024 | 295 | 274 |
Calls vs puts
Options held, notional value, last 4 quarters. P/C = puts ÷ calls
Numbers
| Quarter | Calls | Puts | P/C |
|---|---|---|---|
| Q3 2023 | $445.1m | $592.6m | 1.33 |
| Q4 2023 | $382.2m | $2.2bn | 5.67 |
| Q1 2024 | $412.2m | $544.3m | 1.32 |
| Q2 2024 | $314.8m | $408.6m | 1.30 |
Biggest buyers
| Fisher Asset Management, LLC | Added | +41.9m |
| TORONTO DOMINION BANK | Added | +8.1m |
| CHARLES SCHWAB INVESTMENT MANAGEMENT INC | New | +5.4m |
| FIL Ltd | Added | +4.7m |
| BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp | Added | +3.8m |
| Ninepoint Partners LP | Added | +3.0m |
| ARROWSTREET CAPITAL, LIMITED PARTNERSHIP | Added | +2.5m |
| Balyasny Asset Management L.P. | Added | +2.1m |
| Capital World Investors | Added | +1.9m |
| Federation des caisses Desjardins du Quebec | Added | +1.7m |
Biggest sellers
| Capital Research Global Investors | Reduced | -45.9m |
| MORGAN STANLEY | Reduced | -27.6m |
| GOLDMAN SACHS GROUP INC | Reduced | -15.2m |
| Capital International Investors | Reduced | -14.5m |
| ROYAL BANK OF CANADA | Reduced | -13.8m |
| BANK OF AMERICA CORP /DE/ | Reduced | -9.7m |
| Sumitomo Mitsui Trust Group, Inc. | Reduced | -5.0m |
| BANK OF NOVA SCOTIA | Reduced | -4.4m |
| T. Rowe Price Investment Management, Inc. | Reduced | -4.1m |
| CIBC WORLD MARKET INC. | Reduced | -3.5m |
Biggest calls
| JANE STREET GROUP, LLC | Reduced | $51.5m1.4m shares |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | Reduced | $41.4m1.2m shares |
| CITADEL ADVISORS LLC | Reduced | $37.9m1.1m shares |
| MILLENNIUM MANAGEMENT LLC | Reduced | $17.1m351.3k shares |
| ROYAL BANK OF CANADA | Reduced | $15.7m440.0k shares |
| UBS Group AG | Added | $14.7m414.0k shares |
| SIMPLEX TRADING, LLC | Reduced | $13.3m373.2k shares |
| SIG North Trading, ULC | Reduced | $13.1m367.7k shares |
| Squarepoint Ops LLC | Reduced | $11.4m321.6k shares |
| Calamos Advisors LLC | Added | $9.8m129.0k shares |
Biggest puts
| ROYAL BANK OF CANADA | Reduced | $90.1m2.5m shares |
| JANE STREET GROUP, LLC | Added | $61.4m1.7m shares |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | Reduced | $33.4m938.1k shares |
| MILLENNIUM MANAGEMENT LLC | Reduced | $28.1m659.2k shares |
| SIG North Trading, ULC | Reduced | $25.0m701.0k shares |
| Twin Tree Management, LP | Reduced | $22.5m632.0k shares |
| UBS Group AG | Added | $21.6m607.4k shares |
| CITADEL ADVISORS LLC | Reduced | $21.3m599.6k shares |
| CIBC WORLD MARKET INC. | Unchanged | $17.8m500.0k shares |
| BANK OF MONTREAL /CAN/ | Reduced | $15.1m420.0k 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 2024
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 2024.
Holders, Q2 2024
| Manager | Shares | Change |
|---|---|---|
| Capital World Investors 1.69% of their portfolio | 290.6m $10.4bn | Added +1.9m |
| ROYAL BANK OF CANADA 0.99% of their portfolio | 114.8m $4.1bn | Reduced -13.8m |
| Capital Research Global Investors 0.87% of their portfolio | 111.6m $4.0bn | Reduced -45.9m |
| VANGUARD GROUP INC 0.06% of their portfolio | 87.9m $3.1bn | Added +244.3k |
| FMR LLC 0.20% of their portfolio | 85.8m $3.1bn | Reduced -3.2m |
| BANK OF MONTREAL /CAN/ 0.65% of their portfolio | 60.0m $2.2bn | Added +1.6m |
| FIL Ltd 1.86% of their portfolio | 52.8m $1.9bn | Added +4.7m |
| T. Rowe Price Investment Management, Inc. 1.03% of their portfolio | 45.8m $1.6bn | Reduced -4.1m |
| TD Asset Management Inc 1.41% of their portfolio | 42.5m $1.5bn | Reduced -832.4k |
| Fisher Asset Management, LLC 0.65% of their portfolio | 41.9m $1.5bn | Added +41.9m |
| CANADA PENSION PLAN INVESTMENT BOARD 1.45% of their portfolio | 41.5m $1.5bn | Reduced -1.5m |
| 1832 Asset Management L.P. 2.04% of their portfolio | 31.7m $1.1bn | Added +822.0k |
| MACKENZIE FINANCIAL CORP 1.59% of their portfolio | 30.0m $1.1bn | Reduced -1.5m |
| YACKTMAN ASSET MANAGEMENT LP 9.84% of their portfolio | 29.5m $1.0bn | Reduced -619.1k |
| JPMORGAN CHASE & CO 0.04% of their portfolio | 27.9m $993.5m | Added +731.8k |
| MANUFACTURERS LIFE INSURANCE COMPANY, THE 0.90% of their portfolio | 27.1m $963.3m | Added +304.8k |
| BANK OF NOVA SCOTIA 1.88% of their portfolio | 27.0m $960.0m | Reduced -4.4m |
| CIBC WORLD MARKET INC. 2.35% of their portfolio | 26.6m $946.3m | Reduced -3.5m |
| CIBC Asset Management Inc 2.90% of their portfolio | 22.9m $815.8m | Reduced -761.6k |
| GQG Partners LLC 1.05% of their portfolio | 19.5m $694.4m | Reduced -322.0k |
| TORONTO DOMINION BANK 1.06% of their portfolio | 18.5m $658.7m | Added +8.1m |
| WELLINGTON MANAGEMENT GROUP LLP 0.09% of their portfolio | 13.8m $491.3m | Reduced -323.2k |
| Connor, Clark & Lunn Investment Management Ltd. 1.81% of their portfolio | 12.1m $431.3m | Reduced -178.6k |
| MORGAN STANLEY 0.03% of their portfolio | 11.4m $405.9m | Reduced -27.6m |
| JANUS HENDERSON GROUP PLC 0.17% of their portfolio | 9.1m $324.7m | Added +373.1k |
| GEODE CAPITAL MANAGEMENT, LLC 0.03% of their portfolio | 9.0m $326.9m | Added +401.5k |
| HEALTHCARE OF ONTARIO PENSION PLAN TRUST FUND 0.94% of their portfolio | 8.9m $317.8m | Added +920.0k |
| AMERIPRISE FINANCIAL INC 0.08% of their portfolio | 8.7m $309.0m | Added +229.3k |
| Boston Partners 0.37% of their portfolio | 8.3m $295.4m | Reduced -808.1k |
| Legal & General Group Plc 0.08% of their portfolio | 8.0m $285.9m | Reduced -447.8k |
| PRICE T ROWE ASSOCIATES INC /MD/ 0.03% of their portfolio | 7.4m $262.0m | Added +390.5k |
| DIMENSIONAL FUND ADVISORS LP 0.07% of their portfolio | 7.1m $252.9m | Added +87.8k |
| Amundi 0.10% of their portfolio | 7.0m $253.1m | Added +202.8k |
| Alberta Investment Management Corp 2.55% of their portfolio | 6.8m $241.3m | Added +286.7k |
| Swiss National Bank 0.16% of their portfolio | 6.4m $229.0m | Reduced -29.8k |
| Invesco Ltd. 0.05% of their portfolio | 6.0m $214.2m | Added +99.4k |
| AGF MANAGEMENT LTD 1.23% of their portfolio | 6.0m $221.5m | Added +333.2k |
| BANK OF AMERICA CORP /DE/ 0.02% of their portfolio | 5.9m $210.3m | Reduced -9.7m |
| TD Waterhouse Canada Inc. 1.84% of their portfolio | 5.7m $204.8m | Added +36.4k |
| CHARLES SCHWAB INVESTMENT MANAGEMENT INC 0.04% of their portfolio | 5.4m $191.4m | New |
| SCOTIA CAPITAL INC. 1.08% of their portfolio | 5.2m $184.5m | Added +304.9k |
| PRINCIPAL FINANCIAL GROUP INC 0.11% of their portfolio | 5.0m $179.7m | Reduced -1.2m |
| NATIONAL BANK OF CANADA /FI/ 0.28% of their portfolio | 5.0m $179.2m | Reduced -625.8k |
| MASSACHUSETTS FINANCIAL SERVICES CO /MA/ 0.05% of their portfolio | 4.7m $166.2m | Reduced -25.5k |
| BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp 0.97% of their portfolio | 4.5m $161.1m | Added +3.8m |
| WCM INVESTMENT MANAGEMENT, LLC 0.38% of their portfolio | 4.5m $158.8m | Reduced -29.1k |
| Federation des caisses Desjardins du Quebec 0.79% of their portfolio | 4.0m $147.8m | Added +1.7m |
| GOLDMAN SACHS GROUP INC 0.03% of their portfolio | 3.9m $137.3m | Reduced -15.2m |
| OMERS ADMINISTRATION Corp 1.26% of their portfolio | 3.7m $130.5m | Reduced -938.2k |
| DekaBank Deutsche Girozentrale 0.23% of their portfolio | 3.7m $130.5m | Added +856.4k |
| Capital International Investors 0.03% of their portfolio | 3.4m $122.8m | Reduced -14.5m |
| GUARDIAN CAPITAL LP 4.60% of their portfolio | 3.4m $122.0m | Reduced -568.4k |
| FRANKLIN RESOURCES INC 0.04% of their portfolio | 3.4m $120.2m | Reduced -120.8k |
| Ninepoint Partners LP 11.89% of their portfolio | 3.1m $110.6m | Added +3.0m |
| Fiera Capital Corp 0.34% of their portfolio | 3.1m $110.3m | Added +9.3k |
| VOLORIDGE INVESTMENT MANAGEMENT, LLC 0.39% of their portfolio | 2.9m $104.9m | Reduced -1.0m |
| ARROWSTREET CAPITAL, LIMITED PARTNERSHIP 0.09% of their portfolio | 2.9m $103.7m | Added +2.5m |
| Aviso Financial Inc. 5.36% of their portfolio | 2.7m $96.2m | First filing |
| INGALLS & SNYDER LLC 4.13% of their portfolio | 2.7m $95.6m | Reduced -67.7k |
| NORTHERN TRUST CORP 0.02% of their portfolio | 2.5m $89.7m | Added +24.8k |
| Waratah Capital Advisors Ltd. 5.33% of their portfolio | 2.5m $88.2m | Added +936.3k |
| Bank of New York Mellon Corp 0.02% of their portfolio | 2.4m $87.2m | Reduced -48.0k |
| MONTRUSCO BOLTON INVESTMENTS INC. 0.89% of their portfolio | 2.4m $85.2m | Reduced -213.3k |
| Nuveen Asset Management, LLC 0.02% of their portfolio | 2.4m $84.1m | Reduced -5.8k |
| Addenda Capital Inc. 4.46% of their portfolio | 2.3m $113.8m | Reduced -80.1k |
| Balyasny Asset Management L.P. 0.20% of their portfolio | 2.2m $77.5m | Added +2.1m |
| Marathon Asset Management Ltd 2.36% of their portfolio | 2.1m $75.4m | Reduced -384.8k |
| State of Tennessee, Department of Treasury 0.24% of their portfolio | 1.8m $65.4m | Added +1.1k |
| Dixon Mitchell Investment Counsel Inc. 3.32% of their portfolio | 1.8m $66.1m | Added +16.9k |
| LETKO, BROSSEAU & ASSOCIATES INC 1.24% of their portfolio | 1.8m $65.2m | Reduced -150.9k |
| BlackRock Inc. 0.00% of their portfolio | 1.7m $62.0m | Reduced -71.0k |
| Russell Investments Group, Ltd. 0.10% of their portfolio | 1.7m $61.9m | Reduced -26.1k |
| MILLER HOWARD INVESTMENTS INC /NY 2.03% of their portfolio | 1.7m $61.3m | Reduced -90.0k |
| GW&K Investment Management, LLC 0.56% of their portfolio | 1.7m $61.3m | Reduced -35.1k |
| DEUTSCHE BANK AG\ 0.03% of their portfolio | 1.7m $59.7m | Added +101.0k |
| Brandywine Global Investment Management, LLC 0.42% of their portfolio | 1.6m $56.3m | Reduced -90.0k |
| ENVESTNET ASSET MANAGEMENT INC 0.02% of their portfolio | 1.6m $56.1m | Added +44.6k |
| Corient Private Wealth LP 0.10% of their portfolio | 1.6m $56.1m | Added +46.4k |
| Quadrature Capital Ltd 0.91% of their portfolio | 1.5m $54.6m | Added +597.2k |
| FIRST MANHATTAN CO. LLC. 0.17% of their portfolio | 1.5m $53.4m | Reduced -67.9k |
| Triasima Portfolio Management inc. 4.83% of their portfolio | 1.5m $52.8m | Reduced -28.0k |
| RENAISSANCE TECHNOLOGIES LLC 0.09% of their portfolio | 1.4m $51.2m | Reduced -1.0m |
| UBS AM, a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC 0.01% of their portfolio | 1.4m $51.0m | New |
| Korea Investment CORP 0.13% of their portfolio | 1.4m $50.6m | Reduced -383.1k |
| BOWEN HANES & CO INC 1.39% of their portfolio | 1.4m $50.2m | Added +4.7k |
| Point72 Asset Management, L.P. 0.16% of their portfolio | 1.3m $47.9m | Added +384.4k |
| UNITED SERVICES AUTOMOBILE ASSOCIATION 1.14% of their portfolio | 1.3m $44.9m | Reduced -6.9k |
| MOORE CAPITAL MANAGEMENT, LP 0.97% of their portfolio | 1.2m $44.2m | Added +642.7k |
| UBS Group AG 0.01% of their portfolio | 1.2m $43.3m | Added +134.9k |
| Clearbridge Investments, LLC 0.03% of their portfolio | 1.2m $42.2m | Reduced -257.3k |
| Qube Research & Technologies Ltd 0.08% of their portfolio | 1.2m $41.2m | Added +1.1m |
| MUFG SECURITIES (CANADA), LTD. 2.66% of their portfolio | 1.1m $40.4m | Added +1.1m |
| SUSQUEHANNA FUNDAMENTAL INVESTMENTS, LLC 0.82% of their portfolio | 996.4k $35.5m | Added +709.8k |
| CITADEL ADVISORS LLC 0.03% of their portfolio | 983.5k $35.0m | Added +143.7k |
| Baskin Financial Services Inc. 2.96% of their portfolio | 970.5k $34.6m | Added +14.3k |
| Pacer Advisors, Inc. 0.07% of their portfolio | 897.6k $32.0m | Added +271.6k |
| Scheer, Rowlett & Associates Investment Management Ltd. 2.43% of their portfolio | 889.4k $31.7m | Reduced -2.8k |
| TWO SIGMA INVESTMENTS, LP 0.07% of their portfolio | 869.5k $31.0m | Reduced -728.5k |
| RAYMOND JAMES & ASSOCIATES 0.02% of their portfolio | 862.4k $30.7m | Added +72.1k |
| MACQUARIE GROUP LTD 0.03% of their portfolio | 854.5k $30.4m | Added +53.4k |