Immersion Capital LLP CNQ — CANADIAN NAT RES LTD

Ownership history in Immersion Capital LLP  ·  9 quarters on record

AI Ownership Summary

Immersion Capital LLP reported CANADIAN NAT RES LTD (CNQ) in 9 quarterly 13F filings from 2023 Q4 through 2025 Q4. Peak portfolio weight reached 3.9% in 2024 Q2. The latest visible filing shows CNQ at 3.03% of the fund.

This page tracks quarterly shares, estimated market value, portfolio weight, filing dates, and disclosure-aligned stock prices directly from SEC EDGAR 13F filings.

What this CNQ ownership page tells you

This page is designed to answer the real investor question behind a 13F filing: how meaningful was Immersion Capital LLP's position in CANADIAN NAT RES LTD, and how did that conviction change over time? You can read the holding window, peak weight, latest reported size, disclosure timing, and quarter-by-quarter changes without piecing the story together from raw SEC rows.

Freshest filing
Latest Reported Filing
2025 Q4

CNQ was reported at 3.03% of portfolio in the most recent visible filing.

High-water mark
Peak Conviction
3.9% in 2024 Q2

Peak weight helps separate a token disclosure from a real conviction holding the fund genuinely cared about.

Time in book
Holding Window
2023 Q4 to 2025 Q4

Longer holding windows often tell a very different story from short-lived tactical trades or one-quarter experiments.

Decision context
Why It Matters
Position size beats headlines

Knowing that a fund owned a stock is useful. Knowing whether it was a 0.20% placeholder or a true high-conviction position is where the signal actually starts.

CNQ stock page Immersion Capital LLP fund profile Immersion Capital LLP full holdings
How Immersion Capital LLP held CNQ — position size vs. price
% of Fund (quarterly)    CNQ price (quarter-end, indexed to 100)    SPY (indexed to 100)    QQQ (indexed to 100)
📋 Quarterly Holdings History 9 quarters  ▾
Quarter Action Sold % After 3M Timing Shares Change Chg % % of Fund Mkt Value Filed Price (Filed)
2025 Q4 REDUCED 27.9% +45.2% ❌ 61,874 -24,000 -27.9% 3.03% $2.1M 2026-02-14 (Est.) $40.31
2025 Q3 UNCHANGED — — — 85,874 — 0% 2.82% $2.7M 2025-11-14 $33.27
2025 Q2 REDUCED 39.9% +2.9% ❌ 85,874 -57,100 -39.9% 2.71% $2.7M 2025-08-14 $29.52
2025 Q1 UNCHANGED — — — 142,974 — 0% 3.02% $4.4M 2025-05-15 $30.22
2024 Q4 REDUCED 27.0% +1.1% ❌ 142,974 -52,800 -27.0% 3.69% $4.4M 2025-02-14 $29.07
2024 Q3 UNCHANGED — — — 195,774 — 0% 3.55% $6.5M 2024-11-14 $32.44
2024 Q2 ADDED — — — 195,774 +97,887 +100.0% 3.90% $7.0M 2024-08-14 $34.03
2024 Q1 UNCHANGED — — — 97,887 — 0% 2.96% $7.5M 2024-05-15 $35.40
2023 Q4 INITIATED — — — 97,887 — — 2.76% $6.4M 2024-02-14 $27.67

🏢 Other funds also holding CNQ

As of 2026 Q1 — sorted by position size

YACKTMAN ASSET MANAGEMENT LP 3Y 7Y 10.75% Rempart Asset Management Inc. 3Y 5.76% VIEWPOINT INVESTMENT PARTNERS CORP 3Y 7Y 4.16% Baskin Financial Services Inc. 3Y 7Y 3.91% Addenda Capital Inc. 3Y 7Y 3.49% Turn8 Private Wealth Inc. 3.03% Marathon Asset Management Ltd 3Y 3.0% DIVIDEND ASSETS CAPITAL, LLC 3Y 7Y 2.9% Pacifica Partners Inc. 3Y 2.88% Alberta Investment Management Corp 3Y 7Y 2.6%

FAQ About Immersion Capital LLP and CNQ

These are the practical questions this page is built to answer before you even open the full history table.

How long has Immersion Capital LLP reported owning CNQ?

Immersion Capital LLP reported CNQ across 9 quarterly 13F filings, from 2023 Q4 through 2025 Q4.

What was the largest reported CNQ position in Immersion Capital LLP's portfolio?

The largest reported portfolio weight for CNQ was 3.90% in 2024 Q2.

What is the latest reported CNQ position on this page?

The most recent filing on this page is 2025 Q4, when Immersion Capital LLP reported 61,874 shares, equal to 3.03% of portfolio, with an estimated market value of $2.1M.

What does the chart on this CNQ ownership page compare?

The chart compares Immersion Capital LLP's quarterly CNQ portfolio weight with the stock's indexed share price, so you can see whether the fund was building, trimming, or holding the position as price moved.

How well did Immersion Capital LLP time their CNQ position?

Based on 13F filing dates vs. subsequent CNQ price moves, Immersion Capital LLP correctly timed 1 out of 4 reported position changes (25%). The annualised alpha on CNQ relative to SPY over the holding period was +2.0%.

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