Stock Analysis
Data Source: SEC EDGAR 13F
Updated Hourly

CANADIAN NAT RES LTD MED TER (CNQ)

691 + 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
↑ +44
Streak
2Q ▲
Buyers last Q
56%

Smart Money Signals — CNQ

Based on 652 hedge funds · latest filing: 2025 Q4 · updated quarterly

📈

Buying streak — 2 quarters in a row

last 6Q
For 2 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
652 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 — +10% more funds vs a year ago

fund count last 6Q
+57 new funds entered over the past year (+10% YoY). Gradual, steady growth in institutional ownership is generally a healthy signal — not a speculative rush, but consistent conviction.
🟡

Slight buying edge — 56% buying

365 buying286 selling
Last quarter: 365 funds bought or added vs 286 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 (+39 vs last Q)

new funds entering per quarter
Funds opening a new CNQ position: 82 → 63 → 79 → 118. A growing influx of new institutional buyers means the asset is still gathering momentum — the consensus hasn't fully saturated yet.
🔒

62% of holders stayed for 2+ years

■ 62% conviction (2yr+) ■ 20% medium ■ 18% new
402 out of 652 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.
📈

Growing discovery — still being found

64 → 82 → 63 → 79 → 118 new funds/Q
New funds entering each quarter: 82 → 63 → 79 → 118. A growing number of institutions are discovering CNQ each quarter. The narrative is still spreading — leaving room for ongoing capital accumulation.
🏛️

Deep conviction — 65% of holders stayed 2+ years

■ 65% veterans ■ 12% 1-2yr ■ 23% new
Of 691 current holders: 450 (65%) have held for over 2 years without selling. These are not momentum buyers — they have lived through drawdowns and stayed. A large veteran base acts as a stabilizing force during selloffs.
🏆

Elite ownership — 65% AUM from top-100 funds

65% from top-100 AUM funds
42 of 652 holders are among the 100 largest funds by AUM, controlling 65% 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.
3.6
out of 10
Low Exit Risk
Exit risk score 3.6/10 — 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.

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

-- --
Smart Money Signal ?
Broad Consensus, Selective Conviction

Many quality funds hold this stock, but top-tier positions remain relatively small.

68 top-rated funds 16 high-conviction
Consensus
8.0
/ 10
breadth
×
Elite
5.1
/ 10
conviction
Hedge Fund Positioning: CNQ
2026 Q1 Stats Unlock in 22 days 691 + Investors

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

Metric All 13F Filers (2025 Q4) Prior (2025 Q3) Change
Funds Holding 691 650 6.31%
13F Shares 1.48B 1.50B -1.13%
Total Value $50.05B $47.73B 4.86%
New Positions 118 79 +39
Increased Positions 287 296 -9
Closed Positions 77 65 +12
Reduced Positions 279 270 +9
Total Calls 25 26 -3.85%
Total Puts 23 23 -
PUT/CALL Ratio 0.92 0.88 Neutral

Statistics: CNQ

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Valuation Measures Data as of: --

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PEG Ratio (5yr expected) --
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Enterprise Value/EBITDA --
Beta (5Y Monthly) --
Short Ratio (Days to Cover) --
Short % of Float --

Financial Highlights

Profitability
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Institutional Holders (2026 Q1)

691 + investors

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

Top 25 institutional holders of CNQ — 2025 Q4 · Source: SEC Form 13F
# Investor % of Portfolio Shares Mkt Value
1 Rempart Asset Management Inc. 5.76% 563,467 $27.4M
2 VIEWPOINT INVESTMENT PARTNERS CORP 4.16% 182,990 $9.0M
3 Baskin Financial Services Inc. 3.91% 979,213 $48K
4 Addenda Capital Inc. 3.49% 1,812,408 $124.1M
5 Turn8 Private Wealth Inc. 3.03% 99,610 $4.8M
6 Marathon Asset Management Ltd 3.00% 1,595,650 $78.3M
7 Pacifica Partners Inc. 2.88% 178,232 $8.7M
8 Canoe Financial LP 2.28% 3,433,507 $167.4M
9 QV Investors Inc. 2.22% 564,807 $27K
10 RD Lewis Holdings, Inc. 2.18% 55,137 $2.5M
11 Merrion Investment Management Co, LLC 2.06% 78,800 $3.8M
12 PEAK FINANCIAL ADVISORS LLC 2.02% 93,840 $4.6M
13 Verity & Verity, LLC 2.00% 549,875 $26.8M
14 MILLER HOWARD INVESTMENTS INC /NY 1.92% 1,440,125 $70.2M
15 Buttonwood Financial Advisors Inc. 1.76% 107,873 $5.3M
16 Gold Investment Management Ltd. 1.48% 97,860 $4.8M
17 JCIC Asset Management Inc. 1.45% 97,409 $4.7M
18 Rockingstone Advisors LLC 1.40% 62,430 $3.0M
19 LOUISBOURG INVESTMENTS INC. 1.22% 132,989 $6.5M
20 Vigil Wealth Management, LLC 1.18% 30,000 $1.5M
21 Steadtrust LLC 1.08% 38,980 $1.9M
22 McAlvany Wealth Management LLC 1.01% 30,419 $1.5M
23 Finivi Inc. 0.87% 32,540 $1.6M
24 Sage Investment Counsel LLC 0.75% 13,800 $672K
25 Summerhill Capital Management lnc. 0.74% 17,537 $854K
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 — 2 quarters in a row: For 2 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 — 56% buying: Last quarter: 365 funds bought or added vs 286 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 — 65% AUM from top-100 funds: 42 of 652 holders are among the 100 largest funds by AUM, controlling 65% 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?

62% of holders stayed for 2+ years: 402 out of 652 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.

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.