Stock Analysis
Data Source: SEC EDGAR 13F
Updated Hourly

Cenovus Energy Inc (CVE)

482 + 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
3Q ▲
Buyers last Q
55%

Smart Money Signals — CVE

Based on 493 hedge funds · latest filing: 2026 Q2 · updated quarterly

📈

Buying streak — 3 quarters in a row

last 6Q
For 3 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
493 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.
🚀

Fast accumulation — +23% more funds vs a year ago

fund count last 6Q
+92 new funds entered over the past year (+23% YoY). That's a rapid rush of institutional money. Fast accumulation often signals a major thesis — but it also means the stock could fall quickly if that thesis breaks.
🟡

Slight buying edge — 55% buying

279 buying225 selling
Last quarter: 279 funds bought or added vs 225 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.
⚠️

Fewer new buyers each quarter (-14 vs last Q)

new funds entering per quarter
Funds opening this position for the first time: 55 → 94 → 97 → 83. Each quarter fewer new institutions are entering. This usually means most funds that wanted in are already in — the stock is well-known but the pool of potential new buyers is shrinking.
🔒

60% of holders stayed for 2+ years

■ 60% conviction (2yr+) ■ 16% medium ■ 24% new
295 out of 493 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.
📈

Growing discovery — still being found

60 → 55 → 94 → 97 → 83 new funds/Q
New funds entering each quarter: 55 → 94 → 97 → 83. A growing number of institutions are discovering CVE each quarter. The narrative is still spreading — leaving room for ongoing capital accumulation.
🏛️

Veteran-anchored — 67% veterans vs 25% newcomers

■ 67% veterans ■ 9% 1-2yr ■ 25% new
Entry-cohort mix of 529 holders: 352 (67%) are 2+ year veterans, 47 entered 1–2 years ago, and 130 (25%) joined within the past year. A veteran-weighted cap table skews toward institutional memory over fresh momentum.
🏆

Elite ownership — 62% AUM from top-100 funds

62% from top-100 AUM funds
57 of 488 holders are among the 100 largest funds by AUM, controlling 62% 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.
4.0
out of 10
Moderate Exit Risk
Exit risk score 4.0/10 — some crowding factors present, but no critical concentration. Watch ownership trend over the next 1–2 quarters for direction.

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 Q2, 279 hedge funds were net buyers of CVE (83 opened a new position, 196 added to an existing one), while 225 reduced or exited (171 trimmed, 54 sold completely) — a 55% buyer ratio, indicating a slight buying edge. This marks 3 consecutive quarters of net institutional buying — a persistent conviction signal. 62% 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: 493.

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.

Loading signal freshness…
Smart Money Signal ?
Limited Smart Money Interest

No strong consensus or elite conviction detected among institutional holders.

20 top-rated funds 10 high-conviction
Consensus
5.7
/ 10
breadth
×
Elite
5.8
/ 10
conviction
Hedge Fund Positioning: CVE
482 + Investors

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

Metric All 13F Filers (2026 Q2) Prior (2026 Q1) Change
Funds Holding 482 464 3.88%
13F Shares 929M 965M -3.73%
Total Value $22.71B $24.96B -8.99%
New Positions 79 97 -18
Increased Positions 181 170 +11
Closed Positions 56 67 -11
Reduced Positions 163 142 +21
Total Calls 21 19 10.53%
Total Puts 20 19 5.26%
PUT/CALL Ratio 0.95 1.0 Neutral

Statistics: CVE

View More

Valuation Measures Data as of: --

Market Cap --
Enterprise Value --
Trailing P/E --
Forward P/E --
PEG Ratio (5yr expected) --
Price/Sales (ttm) --
Price/Book (mrq) --
Enterprise Value/Revenue --
Enterprise Value/EBITDA --
Beta (5Y Monthly) --
Short Ratio (Days to Cover) --
Short % of Float --

Financial Highlights

Profitability
Profit Margin --
Return on Assets (ttm) --
Return on Equity (ttm) --
Income Statement & Cash Flow
Revenue (ttm) --
Net Income Avi to Common (ttm) --
Diluted EPS (ttm) --
Total Cash (mrq) --
Total Debt/Equity (mrq) --
Levered Free Cash Flow (ttm) --

Institutional Holders (2026 Q2)

482 + 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 Q2 · Source: SEC Form 13F
# Investor % of Portfolio Shares Mkt Value
1 Aegis Financial Corp 13.52% 3,451,821 $85.6M
2 Greenfield Seitz Capital Management, LLC 10.18% 1,378,040 $34.2M
3 Ninepoint Partners LP 9.65% 5,100,000 $126.5M
4 Recurrent Investment Advisors LLC 7.61% 4,739,325 $122.6M
5 Smead Capital Management, Inc. 7.11% 13,370,631 $331.4M
6 Hatch Cove Capital, LLC 5.59% 507,400 $12.6M
7 Scheer, Rowlett & Associates Investment Management Ltd. 4.80% 2,680,018 $66.8M
8 Lloyd Harbor Capital Management, LLC 4.60% 180,000 $4.5M
9 PCJ Investment Counsel Ltd. 2.64% 368,790 $9.2M
10 JCIC Asset Management Inc. 2.37% 292,184 $7.7M
11 Merewether Investment Management, LP 2.28% 4,871,447 $120.9M
12 Mak Capital One LLC 2.27% 536,832 $16.2M
13 Louisbourg Investments INC. 2.24% 491,348 $12.2M
14 Letko, Brosseau & Associates Inc 1.95% 5,327,707 $132.1M
15 SIR Capital Management, L.P. 1.92% 674,191 $16.7M
16 Intact Investment Management INC. 1.92% 2,719,770 $67.5M
17 Hartree Partners, LP 1.90% 360,000 $8.9M
18 Condire Management, LP 1.74% 600,000 $14.9M
19 Accordant Advisory Group Inc 1.54% 91,828 $2.3M
20 Foundation Resource Management Inc 1.46% 507,297 $12.6M
21 Yaupon Capital Management LP 1.41% 2,891,599 $71.7M
22 Nokomis Capital, L.L.C. 1.39% 167,300 $4.2M
23 Spark Investment Management LLC 1.35% 28,000 $694K
24 Hillsdale Investment Management Inc. 1.35% 2,387,412 $59.2M
25 Pacifica Partners Inc. 1.33% 178,567 $4.4M
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 — 3 quarters in a row: For 3 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 — 55% buying: Last quarter: 279 funds bought or added vs 225 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 — 62% AUM from top-100 funds: 57 of 488 holders are among the 100 largest funds by AUM, controlling 62% 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: 295 out of 493 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.

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.

Full history →