Stock Analysis
Data Source: SEC EDGAR 13F
Updated Hourly

Canadian Nat Res Ltd Med Ter (CNQ)

732 + Investors. Track Smart Money conviction in CNQ. See who's accumulating, reducing, or initiating positions.

Current Price
-- USD
Analyst Target
-- (0 analysts)
Upside
0.00%
Net Flow Q/Q
↑ +67
Streak
4Q ▲
Buyers last Q
58%

Smart Money Signals — CNQ

Based on 742 hedge funds · latest filing: 2026 Q1 · updated quarterly

📈

Buying streak — 4 quarters in a row

last 6Q
For 4 consecutive quarters, more hedge funds added CNQ than sold it. That's a consistent pattern of professional buying — not a one-time trade. When institutions keep buying quarter after quarter, it usually means they see a multi-year opportunity, not just a short-term momentum flip.
🏔️

At the ownership peak (100% of max)

100% of all-time peak
742 hedge funds hold CNQ right now — the highest count in 3.0 years. When ownership is this concentrated, any bad news can trigger a chain reaction: one big fund sells, others follow. This is a classic 'crowded trade' — high popularity doesn't equal safety.
📶

Steady growth — +20% more funds vs a year ago

fund count last 6Q
+124 new funds entered over the past year (+20% YoY). Gradual, steady growth in institutional ownership is generally a healthy signal — not a speculative rush, but consistent conviction.
🟡

Slight buying edge — 58% buying

411 buying303 selling
Last quarter: 411 funds bought or added vs 303 that reduced or exited. It's nearly a 50/50 split — some institutions are convinced, others are taking profits. This mixed picture is normal near price highs.
📈

More new buyers each quarter (+19 vs last Q)

new funds entering per quarter
Funds opening a new CNQ position: 67 → 82 → 120 → 139. A growing influx of new institutional buyers means the asset is still gathering momentum — the consensus hasn't fully saturated yet.
🔒

58% of holders stayed for 2+ years

■ 58% conviction (2yr+) ■ 19% medium ■ 23% new
428 out of 742 hedge funds have held CNQ for over 2 years without selling. Long-term investors are generally harder to shake out during market stress, creating a stable ownership base that limits the risk of sudden capitulation.
💰

Value +49% but shares only +6% — price-driven

Value
+48%
Shares
+5%
Last quarter: the total dollar value of institutional holdings rose +49%, but actual share count only changed +6%. The gap is explained by the stock's price rising — not new buying. Strong value growth with weak share growth means the rally is price momentum, not fresh institutional demand.
🚀

Acceleration phase — new buyers rushing in

84 → 67 → 82 → 120 → 139 new funds/Q
New funds entering each quarter: 67 → 82 → 120 → 139. The pace of institutional discovery is accelerating sharply. This is the 'hot idea' phase — the thesis is being passed from fund to fund. You are not late — the accumulation wave is still building.
🏛️

Veteran-anchored — 64% veterans vs 26% newcomers

■ 64% veterans ■ 11% 1-2yr ■ 26% new
Entry-cohort mix of 779 holders: 495 (64%) are 2+ year veterans, 84 entered 1–2 years ago, and 200 (26%) joined within the past year. A veteran-weighted cap table skews toward institutional memory over fresh momentum.
🏆

Elite ownership — 67% AUM from top-100 funds

67% from top-100 AUM funds
60 of 734 holders are among the 100 largest funds by AUM, controlling 67% of total institutional value in CNQ. When the biggest players dominate the cap table, it signifies deep institutional support — since mega-funds deploy the most rigorous due diligence and capital.
3.8
out of 10
Low Exit Risk
Exit risk score 3.8/10 — low institutional crowding. Ownership is below peak levels, holder base is relatively sticky, and buying momentum is positive.

Methodology note: these Smart Money cards use consecutive 13F disclosure snapshots, not trade-by-trade execution data. "Buying", "selling", "new holders", and "trimmed" refer to quarter-over-quarter changes in reported holders, aggregate shares, or disclosed position values between filings. They are useful for ownership regime analysis and crowding, but they do not imply exact trade timing on the filing date.

Institutional Sentiment Summary — CNQ

In 2026 Q1, 411 hedge funds were net buyers of CNQ (139 opened a new position, 272 added to an existing one), while 303 reduced or exited (231 trimmed, 72 sold completely) — a 58% buyer ratio, indicating a slight buying edge. This marks 4 consecutive quarters of net institutional buying — a persistent conviction signal. 67% of total institutional value in CNQ is held by top-100 AUM funds, reflecting elite-tier ownership quality. Net fund flow last quarter: +67 funds (more new holders than closures). Total institutional holders: 742.

Hedge Fund Ownership: CNQ

How many hedge funds hold CNQ — quarterly history vs. share price
Quarterly hedge fund ownership of CNQ vs. share price

Market Analysis: CNQ

Analyst Price Targets

Avg. Price Target
--

Analyst Recommendations

Stock Performance

Real-time

Company Profile: CNQ

-- --

Institutional ownership data sourced from SEC EDGAR Form 13F-HR filings.

Is It Too Late to Buy Canadian Nat Res Ltd Med Ter (CNQ) Based on Hedge Fund 13F Filings?

Signal Freshness measures how much CNQ has moved relative to its sector benchmark (XLE) since the 2026 Q1 13F filing. A stock that has barely outrun its sector is still a relatively fresh entry point — the fund's thesis has not yet been priced in by the broader market.

Since Quarter End March 31, 2026 · 78d ago
CNQ
-12.4%
XLE
+60616.7%

CNQ outperformed XLE by -60629.1% since March 31, 2026.

Since 13F Filing Date May 15, 2026 · 33d ago
CNQ
-11.1%
XLE
+49577.3%

Since the filing became public, CNQ outperformed XLE by -49588.4% .

Interpretation: The stock is tracking its sector benchmark closely. The signal remains fresh and the entry point is still near the fund's implied reference. Learn more →

Smart Money Signal ?
Strong Institutional Conviction

Multiple high-quality funds hold meaningful positions with strong conviction.

39 top-rated funds 25 high-conviction
Consensus
7.0
/ 10
breadth
×
Elite
6.3
/ 10
conviction
Hedge Fund Positioning: CNQ
732 + Investors

Track Smart Money conviction in CNQ. See who's accumulating, reducing, or initiating positions.

Metric All 13F Filers (2026 Q1) Prior (2025 Q4) Change
Funds Holding 732 675 8.44%
13F Shares 1.57B 1.48B 5.85%
Total Value $74.47B $50.12B 48.59%
New Positions 136 120 +16
Increased Positions 261 236 +25
Closed Positions 79 75 +4
Reduced Positions 221 214 +7
Total Calls 23 25 -8.0%
Total Puts 21 23 -8.7%
PUT/CALL Ratio 0.91 0.92 Neutral

Statistics: CNQ

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Short Ratio (Days to Cover) --
Short % of Float --

Financial Highlights

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Institutional Holders (2026 Q1)

732 + investors

Explore institutional interest and hedge fund ownership dynamics. Analyze portfolio weights, new positions, and conviction trends in CNQ. Verified SEC 13F-HR filings.

QUARTER:
Top 25 CNQ holders by conviction (% of portfolio weight) — 2026 Q1 · Source: SEC Form 13F
# Investor % of Portfolio Shares Mkt Value
1 Turas Capital Management LP 11.37% 913,300 $44.5M
2 Yacktman Asset Management LP 10.75% 16,541,598 $806.1M
3 Epacria Capital Partners, LLC 8.80% 233,208 $11.4M
4 Guardian Point Capital, LP 8.03% 400,000 $19.5M
5 Goehring & Rozencwajg Associates, LLC 7.41% 2,827,853 $137.9M
6 Rempart Asset Management Inc. 5.76% 563,467 $27.4M
7 Mudita Advisors LLP 5.29% 532,366 $25.9M
8 Lifetime Wealth Management P.C. 5.19% 187,376 $9.1M
9 Heathbridge Capital Management Ltd. 4.97% 281,075 $13.7M
10 Purpose Unlimited Inc. 4.71% 2,336,691 $114.0M
11 Aviso Financial Inc. 4.64% 2,678,995 $130.6M
12 Guardian Capital LP 4.44% 3,453,521 $167.9M
13 Mufg Securities (canada), LTD. 4.32% 3,087,764 $150.4M
14 Investment Management Associates Inc /Adv 4.19% 360,870 $17.6M
15 Viewpoint Investment Partners Corp 4.16% 182,990 $9.0M
16 Bank of Nova Scotia Trust Co 4.06% 970,403 $47.3M
17 Burkett Asset Management Ltd 4.02% 83,708 $4.1M
18 Blue Sparrow, LLC /DE 3.85% 4,620,000 $225.1M
19 Cibc World Market INC. 3.57% 44,886,474 $2.19B
20 Harbor Advisors LLC 3.52% 499,800 $24.4M
21 Addenda Capital Inc. 3.49% 1,812,408 $124.1M
22 Immersion Capital LLP 3.45% 61,874 $3.0M
23 Egerton Capital (UK) LLP 3.07% 5,690,211 $277.1M
24 Turn8 Private Wealth Inc. 3.03% 99,610 $4.8M
25 Old West Investment Management, LLC 3.01% 569,348 $27.7M
Investor Ownership
History 		% of Portfolio Prev % Rank Conviction Avg Buy Price 13F Score™ 3Y / 7Y Sell Timing Shares Mkt Value Change Change % Source Quarter Filed

Frequently Asked Questions — Canadian Nat Res Ltd Med Ter (CNQ)

What does the Smart Money Trend signal show for CNQ?

Buying streak — 4 quarters in a row: For 4 consecutive quarters, more hedge funds added CNQ than sold it. That's a consistent pattern of professional buying — not a one-time trade. When institutions keep buying quarter after quarter, it usually means they see a multi-year opportunity, not just a short-term momentum flip.

What is the institutional breadth score for CNQ?

Slight buying edge — 58% buying: Last quarter: 411 funds bought or added vs 303 that reduced or exited. It's nearly a 50/50 split — some institutions are convinced, others are taking profits. This mixed picture is normal near price highs.

What is the fund quality score for CNQ holders?

Elite ownership — 67% AUM from top-100 funds: 60 of 734 holders are among the 100 largest funds by AUM, controlling 67% of total institutional value in CNQ. When the biggest players dominate the cap table, it signifies deep institutional support — since mega-funds deploy the most rigorous due diligence and capital.

How long have hedge funds held CNQ?

58% of holders stayed for 2+ years: 428 out of 742 hedge funds have held CNQ for over 2 years without selling. Long-term investors are generally harder to shake out during market stress, creating a stable ownership base that limits the risk of sudden capitulation.

Is it too late to buy Canadian Nat Res Ltd Med Ter (CNQ) following the 2026 Q1 hedge fund 13F filings?

As of today, CNQ has moved -11.1% since the 2026 Q1 13F filing date (May 15, 2026), compared to +49577.3% for the XLE sector ETF — an outperformance of -49588.4%. Since the quarter end (March 31, 2026), CNQ has gained -12.4% vs +60616.7% for XLE. The stock is tracking its sector benchmark closely. The signal remains fresh and the entry point is still near the fund's implied reference.

Where does this institutional ownership data come from?

All holdings data is sourced from SEC Form 13F filings, which institutional investment managers with over $100 million in assets are required to submit quarterly. Data is parsed directly from SEC EDGAR.

Disclaimer: The information on this page is for informational purposes only and does not constitute investment advice, a recommendation, or an offer to buy or sell any security. Institutional holdings data is sourced from SEC Form 13F filings and reflects positions as of the filing date. Past performance of any fund or portfolio is not indicative of future results. 13Foresight is not a registered investment adviser. Always conduct your own due diligence before making investment decisions.

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