Stock Analysis
Data Source: SEC EDGAR 13F
Updated Hourly

Cenovus Energy Inc (CVE)

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

Current Price
-- USD
Analyst Target
-- (0 analysts)
Upside
0.00%
Net Flow Q/Q
↑ +29
Streak
2Q ▲
Buyers last Q
56%

Smart Money Signals — CVE

Based on 462 hedge funds · latest filing: 2026 Q1 · updated quarterly

📈

Buying streak — 2 quarters in a row

last 6Q
For 2 consecutive quarters, more hedge funds added CVE 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
462 hedge funds hold CVE 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 — +18% more funds vs a year ago

fund count last 6Q
+71 new funds entered over the past year (+18% YoY). Gradual, steady growth in institutional ownership is generally a healthy signal — not a speculative rush, but consistent conviction.
🟡

Slight buying edge — 56% buying

275 buying216 selling
Last quarter: 275 funds bought or added vs 216 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.
➡️

Steady new buyers — ~96 new funds per quarter

new funds entering per quarter
Funds opening this position for the first time: 59 → 55 → 94 → 96. A stable flow of new institutional buyers suggests ongoing interest without signs of either acceleration or slowdown.
🔒

60% of holders stayed for 2+ years

■ 60% conviction (2yr+) ■ 16% medium ■ 24% new
279 out of 462 hedge funds have held CVE 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.
💰

Price up while funds trimmed (+46% value, -4% shares)

Value
+46%
Shares
-4%
Last quarter: total value of institutional CVE holdings rose +46% even though funds reduced share count by 4%. The stock price increased enough to offset the selling. Institutions are quietly trimming into price strength — watch for rotation.
🚀

Acceleration phase — new buyers rushing in

43 → 59 → 55 → 94 → 96 new funds/Q
New funds entering each quarter: 59 → 55 → 94 → 96. 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 — 66% veterans vs 24% newcomers

■ 66% veterans ■ 10% 1-2yr ■ 24% new
Entry-cohort mix of 496 holders: 328 (66%) are 2+ year veterans, 49 entered 1–2 years ago, and 119 (24%) joined within the past year. A veteran-weighted cap table skews toward institutional memory over fresh momentum.
🏆

Elite ownership — 63% AUM from top-100 funds

63% from top-100 AUM funds
57 of 458 holders are among the 100 largest funds by AUM, controlling 63% of total institutional value in CVE. When the biggest players dominate the cap table, it signifies deep institutional support — since mega-funds deploy the most rigorous due diligence and capital.
3.9
out of 10
Low Exit Risk
Exit risk score 3.9/10 — 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 — CVE

In 2026 Q1, 275 hedge funds were net buyers of CVE (96 opened a new position, 179 added to an existing one), while 216 reduced or exited (149 trimmed, 67 sold completely) — a 56% buyer ratio, indicating a slight buying edge. Net buying has persisted for two consecutive quarters, a positive momentum signal. 63% of total institutional value in CVE is held by top-100 AUM funds, reflecting elite-tier ownership quality. Net fund flow last quarter: +29 funds (more new holders than closures). Total institutional holders: 462.

Hedge Fund Ownership: CVE

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

Market Analysis: CVE

Analyst Price Targets

Avg. Price Target
--

Analyst Recommendations

Stock Performance

Real-time

Company Profile: CVE

-- --

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

Is It Too Late to Buy Cenovus Energy Inc (CVE) Based on Hedge Fund 13F Filings?

Signal Freshness measures how much CVE 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 · 79d ago
CVE
-6.6%
XLE
-10.8%

CVE outperformed XLE by +4.2% since March 31, 2026.

Since 13F Filing Date May 15, 2026 · 34d ago
CVE
-19.1%
XLE
-8.0%

Since the filing became public, CVE outperformed XLE by -11.1% .

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 ?
Growing Institutional Interest

Quality funds are building positions — conviction is rising but not yet widespread.

28 top-rated funds 11 high-conviction
Consensus
6.3
/ 10
breadth
×
Elite
7.2
/ 10
conviction
Hedge Fund Positioning: CVE
461 + Investors

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

Metric All 13F Filers (2026 Q1) Prior (2025 Q4) Change
Funds Holding 461 433 6.47%
13F Shares 964M 1.01B -4.36%
Total Value $24.96B $17.08B 46.16%
New Positions 95 94 +1
Increased Positions 170 165 +5
Closed Positions 67 41 +26
Reduced Positions 141 108 +33
Total Calls 19 18 5.56%
Total Puts 19 20 -5.0%
PUT/CALL Ratio 1.0 1.11 Neutral

Statistics: CVE

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

Financial Highlights

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Institutional Holders (2026 Q1)

461 + investors

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

QUARTER:
Top 25 CVE holders by conviction (% of portfolio weight) — 2026 Q1 · Source: SEC Form 13F
# Investor % of Portfolio Shares Mkt Value
1 Aegis Financial Corp 15.78% 3,451,821 $91.6M
2 Greenfield Seitz Capital Management, LLC 10.44% 1,304,498 $34.6M
3 Recurrent Investment Advisors LLC 9.61% 5,799,641 $159.6M
4 Smead Capital Management, Inc. 8.58% 14,868,003 $394.5M
5 Scheer, Rowlett & Associates Investment Management Ltd. 5.88% 3,088,546 $81.7M
6 Hartree Partners, LP 4.48% 790,000 $20.9M
7 Lloyd Harbor Capital Management, LLC 3.80% 350,000 $9.3M
8 SIR Capital Management, L.P. 3.66% 1,476,500 $39.2M
9 PCJ Investment Counsel Ltd. 3.33% 442,865 $11.7M
10 Caldwell Investment Management Ltd. 3.03% 290,800 $7.7M
11 Findell Capital Management LLC 2.91% 375,000 $9.9M
12 Intact Investment Management INC. 2.84% 3,750,960 $99.5M
13 Condire Management, LP 2.82% 1,100,000 $29.2M
14 Corigliano Investment Advisers, LLC 2.45% 236,500 $6.3M
15 Merewether Investment Management, LP 2.45% 4,771,600 $126.6M
16 Letko, Brosseau & Associates Inc 2.44% 5,711,489 $151.1M
17 JCIC Asset Management Inc. 2.37% 292,184 $7.7M
18 Yaupon Capital Management LP 2.37% 2,860,109 $75.9M
19 Mak Capital One LLC 2.10% 536,832 $14.2M
20 Summerhill Capital Management lnc. 1.91% 82,822 $2.2M
21 GeoSphere Capital Management, LLC 1.87% 161,548 $4.3M
22 Pacifica Partners Inc. 1.61% 182,587 $4.8M
23 Mufg Securities (canada), LTD. 1.53% 2,007,874 $53.2M
24 Canoe Financial LP 1.52% 4,211,181 $111.7M
25 Foundation Resource Management Inc 1.51% 505,637 $13.4M
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 — Cenovus Energy Inc (CVE)

What does the Smart Money Trend signal show for CVE?

Buying streak — 2 quarters in a row: For 2 consecutive quarters, more hedge funds added CVE 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 CVE?

Slight buying edge — 56% buying: Last quarter: 275 funds bought or added vs 216 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 CVE holders?

Elite ownership — 63% AUM from top-100 funds: 57 of 458 holders are among the 100 largest funds by AUM, controlling 63% of total institutional value in CVE. 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 CVE?

60% of holders stayed for 2+ years: 279 out of 462 hedge funds have held CVE 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 Cenovus Energy Inc (CVE) following the 2026 Q1 hedge fund 13F filings?

As of today, CVE has moved -19.1% since the 2026 Q1 13F filing date (May 15, 2026), compared to -8.0% for the XLE sector ETF — an outperformance of -11.1%. Since the quarter end (March 31, 2026), CVE has gained -6.6% vs -10.8% 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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