Also trades as: CNQ.TO (TSX) · $vol 773M
CNQ Institutional Ownership
Canadian Natural Resources Limited
1W: -0.2%
1M: +13.7%
3M: +17.4%
YTD: +62.1%
1Y: +80.2%
3Y: +90.0%
5Y: +224.4%
$54.07
-1.04 (-1.89%)
Weekly Expected Move ±3.2%
$52
$53
$55
$57
$59
Credit Risk of going bust: lower than 80% of companies Debt: 9.9% of company value Bonds: $286.1M held by 294 funds, 84 bp over Treasuries → details ▾
If the stock fell to about $0.45 (down 99.2%), Canadian Natural Resources Limited would be worth roughly what it owes.
Total debt $12.21B against a stock market value of $111.47B.
Distance to default 9.75 (Merton model): prices to 2026-10-27, balance sheet 2026-06-30, debt counted $6.89B (short-term plus half of long-term), stock volatility 30.9%; Altman Z'' 3.26. A ranking and a back-test, not a forecast.
Bond figures are fund-reported marks (SEC N-PORT) as of Jul 2026. How these are computed.
Total debt $12.21B against a stock market value of $111.47B.
Distance to default 9.75 (Merton model): prices to 2026-10-27, balance sheet 2026-06-30, debt counted $6.89B (short-term plus half of long-term), stock volatility 30.9%; Altman Z'' 3.26. A ranking and a back-test, not a forecast.
Bond figures are fund-reported marks (SEC N-PORT) as of Jul 2026. How these are computed.
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Institutional Ownership — CNQ
837
Institutional Holders
+20 vs prior quarter
0.0%
Ownership
+0.00pp
$58B
Total Invested
101
New Positions
287
Increased
328
Reduced
85
Closed
0.88
Put/Call Ratio
Ownership Trends
Top Institutional Holders (901 total)
| # | Holder | Shares | Value | Change | Change % | Holding Period | Filing |
|---|---|---|---|---|---|---|---|
| 1 | Capital World Investors | 217,960,835 | $11.8B | +20,281,072 | +10.3% | 42Q | SEC ↗ |
| 2 | ROYAL BANK OF CANADA | 137,606,544 | $7.4B | +12,793,594 | +10.3% | 87Q | SEC ↗ |
| 3 | Capital Research Global Investors | 116,067,730 | $6.3B | -48,364,929 | -29.4% | 75Q | SEC ↗ |
| 4 | BANK OF MONTREAL /CAN | 64,790,046 | $3.5B | +886,881 | +1.4% | 53Q | SEC ↗ |
| 5 | FMR LLC | 64,243,259 | $3.5B | -20,960,566 | -24.6% | 104Q | SEC ↗ |
| 6 | VANGUARD CAPITAL MANAGEMENT LLC | 58,776,966 | $3.2B | +742,871 | +1.3% | 2Q | SEC ↗ |
| 7 | GOLDMAN SACHS GROUP INC | 50,811,234 | $2.7B | +24,652,519 | +94.2% | 15Q | SEC ↗ |
| 8 | CANADA PENSION PLAN INVESTMENT BOARD | 38,636,215 | $2.1B | -1,645,100 | -4.1% | 74Q | SEC ↗ |
| 9 | TD Asset Management Inc | 31,168,077 | $1.7B | -8,772,820 | -22.0% | 67Q | SEC ↗ |
| 10 | HEALTHCARE OF ONTARIO PENSION PLAN TRU | 30,793,200 | $1.7B | -6,664,300 | -17.8% | 7Q | SEC ↗ |
| 11 | CIBC WORLD MARKET INC. | 30,371,087 | $1.6B | -14,515,387 | -32.3% | 73Q | SEC ↗ |
| 12 | 1832 Asset Management L.P. | 28,134,122 | $1.5B | +197,564 | +0.7% | 82Q | SEC ↗ |
| 13 | MACKENZIE FINANCIAL CORP | 27,195,960 | $1.5B | -234,582 | -0.9% | 41Q | SEC ↗ |
| 14 | MANUFACTURERS LIFE INSURANCE COMPANY, | 26,542,998 | $1.4B | -203,246 | -0.8% | 46Q | SEC ↗ |
| 15 | PRICE T ROWE ASSOCIATES INC /MD | 26,101,709 | $1.4B | +3,094,883 | +13.5% | 11Q | SEC ↗ |
| 16 | GEODE CAPITAL MANAGEMENT, LLC | 24,141,192 | $1.3B | +2,815,163 | +13.2% | 36Q | SEC ↗ |
| 17 | T. Rowe Price Investment Management, I | 21,027,147 | $1.1B | +8,790,819 | +71.8% | 13Q | SEC ↗ |
| 18 | NATIONAL BANK OF CANADA /FI | 19,011,978 | $1.0B | +7,007,557 | +58.4% | 19Q | SEC ↗ |
| 19 | VANGUARD FIDUCIARY TRUST CO | 18,104,686 | $979M | +129,030 | +0.7% | 2Q | SEC ↗ |
| 20 | CIBC Asset Management Inc | 16,720,694 | $904M | +1,021,985 | +6.5% | 102Q | SEC ↗ |
| 21 | YACKTMAN ASSET MANAGEMENT LP | 16,462,508 | $890M | -79,090 | -0.5% | 22Q | SEC ↗ |
| 22 | JPMORGAN CHASE & CO | 16,456,010 | $890M | +375,837 | +2.3% | 95Q | SEC ↗ |
| 23 | TD Waterhouse Canada Inc. | 16,236,328 | $878M | +88,990 | +0.6% | 19Q | SEC ↗ |
| 24 | ARROWSTREET CAPITAL, LIMITED PARTNERSH | 15,929,234 | $861M | -13,027,111 | -45.0% | 2Q | SEC ↗ |
| 25 | Vanguard Global Advisers, LLC | 15,896,121 | $860M | +1,376,397 | +9.5% | 2Q | SEC ↗ |
| 26 | MORGAN STANLEY | 15,003,222 | $811M | +4,811,193 | +47.2% | 60Q | SEC ↗ |
| 27 | TORONTO DOMINION BANK | 13,653,797 | $738M | -19,505,681 | -58.8% | 84Q | SEC ↗ |
| 28 | JANE STREET GROUP, LLC | 10,285,016 | $556M | +8,168,265 | +385.9% | 42Q | SEC ↗ |
| 29 | BRITISH COLUMBIA INVESTMENT MANAGEMENT | 10,034,176 | $543M | +2,228,597 | +28.6% | 31Q | SEC ↗ |
| 30 | WELLINGTON MANAGEMENT GROUP LLP | 9,848,227 | $532M | +1,473,432 | +17.6% | 83Q | SEC ↗ |
| 31 | SCOTIA CAPITAL INC. | 9,812,156 | $531M | +330,887 | +3.5% | 85Q | SEC ↗ |
| 32 | BANK OF NOVA SCOTIA | 9,798,316 | $530M | +3,232,924 | +49.2% | 15Q | SEC ↗ |
| 33 | DIMENSIONAL FUND ADVISORS LP | 9,708,157 | $525M | +297,834 | +3.2% | 57Q | SEC ↗ |
| 34 | Blue Sparrow, LLC /DE | 9,000,000 | $487M | +4,380,000 | +94.8% | 2Q | SEC ↗ |
| 35 | Amundi | 8,238,632 | $445M | +244,205 | +3.1% | 21Q | SEC ↗ |
| 36 | CHARLES SCHWAB INVESTMENT MANAGEMENT I | 7,659,170 | $414M | +369,989 | +5.1% | 9Q | SEC ↗ |
| 37 | Sixth Street Partners Management Compa NEW | 7,659,170 | $414M | — | +0.0% | 1Q | SEC ↗ |
| 38 | FRANKLIN RESOURCES INC | 7,613,910 | $412M | -386,926 | -4.8% | 22Q | SEC ↗ |
| 39 | Capital International Investors | 7,389,109 | $400M | -1,722,037 | -18.9% | 56Q | SEC ↗ |
| 40 | OMERS ADMINISTRATION Corp | 7,053,566 | $381M | +6,987,466 | +10571.1% | 3Q | SEC ↗ |
| 41 | Beutel, Goodman & Co Ltd. | 6,894,705 | $373M | +2,883,173 | +71.9% | 6Q | SEC ↗ |
| 42 | Swiss National Bank | 6,741,862 | $365M | -270,000 | -3.9% | 53Q | SEC ↗ |
| 43 | MUFG SECURITIES (CANADA), LTD. | 6,350,644 | $343M | +3,262,880 | +105.7% | 10Q | SEC ↗ |
| 44 | Legal & General Group Plc | 6,041,888 | $327M | -1,304,742 | -17.8% | 27Q | SEC ↗ |
| 45 | WCM INVESTMENT MANAGEMENT, LLC | 5,852,509 | $316M | +730,300 | +14.3% | 16Q | SEC ↗ |
| 46 | AQR CAPITAL MANAGEMENT LLC | 5,613,183 | $304M | +904,741 | +19.2% | 9Q | SEC ↗ |
| 47 | Fiera Capital Corp | 5,045,249 | $273M | +607,782 | +13.7% | 64Q | SEC ↗ |
| 48 | TWO SIGMA INVESTMENTS, LP | 4,889,895 | $264M | +4,695,453 | +2414.8% | 12Q | SEC ↗ |
| 49 | Jupiter Topco LLC NEW | 4,701,821 | $254M | — | +0.0% | 1Q | SEC ↗ |
| 50 | Connor, Clark & Lunn Investment Manage | 4,567,458 | $247M | -2,150,028 | -32.0% | 50Q | SEC ↗ |
Recent Activity
New Positions (20)
| Holder | Shares | Value |
|---|---|---|
| Sixth Street Partners Management Co | 7,659,170 | $414M |
| Jupiter Topco LLC | 4,701,821 | $254M |
| WILLIAM BLAIR INVESTMENT MANAGEMENT | 3,635,082 | $197M |
| RENAISSANCE TECHNOLOGIES LLC | 2,859,500 | $155M |
| Panview Capital Ltd | 486,326 | $26M |
| Curated Wealth Partners LLC | 400,023 | $22M |
| AustralianSuper Pty Ltd | 305,387 | $17M |
| HATCH COVE CAPITAL, LLC | 299,600 | $16M |
| Y-Intercept (Hong Kong) Ltd | 287,188 | $16M |
| Quantbot Technologies LP | 236,761 | $13M |
| Point72 Asset Management, L.P. | 173,588 | $9M |
| 4D Advisors, LLC | 150,000 | $8M |
| Quadrature Capital Ltd | 139,554 | $8M |
| Ruffer LLP | 136,720 | $7M |
| SIG North Trading, ULC | 119,875 | $6M |
| Fulcrum Asset Management LLP | 72,052 | $4M |
| NAVELLIER & ASSOCIATES INC | 60,189 | $3M |
| LOCKHEED MARTIN INVESTMENT MANAGEME | 53,300 | $3M |
| PARK AVENUE SECURITIES LLC | 45,635 | $2M |
| Quantitative Investment Management, | 45,200 | $2M |
Sold Out (20)
| Holder | Prev Shares | Prev Value |
|---|---|---|
| Egerton Capital (UK) LLP | 5,690,211 | $308M |
| Ninety One UK Ltd | 1,194,306 | $65M |
| Turas Capital Management LP | 913,300 | $49M |
| NOMURA ASSET MANAGEMENT INTERNATION | 593,864 | $32M |
| LONGFELLOW INVESTMENT MANAGEMENT CO | 464,721 | $25M |
| ExodusPoint Capital Management, LP | 447,083 | $24M |
| Waratah Capital Advisors Ltd. | 383,028 | $21M |
| NICOLA WEALTH MANAGEMENT LTD. | 336,100 | $18M |
| Trek Financial, LLC | 209,562 | $11M |
| Heronetta Management, L.P. | 193,600 | $10M |
| MOORE CAPITAL MANAGEMENT, LP | 175,000 | $9M |
| Brooklands Fund Management Ltd | 143,911 | $8M |
| Gotham Asset Management, LLC | 133,186 | $7M |
| BAROMETER CAPITAL MANAGEMENT INC. | 127,200 | $7M |
| Erste Asset Management GmbH | 105,710 | $6M |
| PEAK6 LLC | 105,403 | $6M |
| BTG Pactual Asset Management US LLC | 86,373 | $5M |
| SUSQUEHANNA ADVISORS GROUP, INC. | 78,202 | $4M |
| Ashton Thomas Private Wealth, LLC | 67,894 | $4M |
| Forum Financial Management, LP | 64,965 | $4M |
Biggest Increases (20)
| Holder | Added | Change % | Total Shares |
|---|---|---|---|
| GOLDMAN SACHS GROUP INC | +24,652,519 | +94.2% | 50,811,234 |
| Capital World Investors | +20,281,072 | +10.3% | 217,960,835 |
| ROYAL BANK OF CANADA | +12,793,594 | +10.3% | 137,606,544 |
| T. Rowe Price Investment Management | +8,790,819 | +71.8% | 21,027,147 |
| JANE STREET GROUP, LLC | +8,168,265 | +385.9% | 10,285,016 |
| NATIONAL BANK OF CANADA /FI | +7,007,557 | +58.4% | 19,011,978 |
| OMERS ADMINISTRATION Corp | +6,987,466 | +10571.1% | 7,053,566 |
| MORGAN STANLEY | +4,811,193 | +47.2% | 15,003,222 |
| TWO SIGMA INVESTMENTS, LP | +4,695,453 | +2414.8% | 4,889,895 |
| Blue Sparrow, LLC /DE | +4,380,000 | +94.8% | 9,000,000 |
| MUFG SECURITIES (CANADA), LTD. | +3,262,880 | +105.7% | 6,350,644 |
| BANK OF NOVA SCOTIA | +3,232,924 | +49.2% | 9,798,316 |
| PRICE T ROWE ASSOCIATES INC /MD | +3,094,883 | +13.5% | 26,101,709 |
| Beutel, Goodman & Co Ltd. | +2,883,173 | +71.9% | 6,894,705 |
| GEODE CAPITAL MANAGEMENT, LLC | +2,815,163 | +13.2% | 24,141,192 |
| CITADEL ADVISORS LLC | +2,451,085 | +378.2% | 3,099,237 |
| BRITISH COLUMBIA INVESTMENT MANAGEM | +2,228,597 | +28.6% | 10,034,176 |
| Public Sector Pension Investment Bo | +1,985,833 | +935.7% | 2,198,059 |
| MILLENNIUM MANAGEMENT LLC | +1,619,948 | +461.5% | 1,970,985 |
| Allianz Asset Management GmbH | +1,553,360 | +6275.4% | 1,578,113 |
Biggest Decreases (20)
| Holder | Reduced | Change % | Total Shares |
|---|---|---|---|
| Capital Research Global Investors | -48,364,929 | -29.4% | 116,067,730 |
| Fisher Asset Management, LLC | -43,359,229 | -96.3% | 1,665,176 |
| FMR LLC | -20,960,566 | -24.6% | 64,243,259 |
| TORONTO DOMINION BANK | -19,505,681 | -58.8% | 13,653,797 |
| GQG Partners LLC | -17,280,611 | -98.4% | 274,860 |
| CIBC WORLD MARKET INC. | -14,515,387 | -32.3% | 30,371,087 |
| ARROWSTREET CAPITAL, LIMITED PARTNE | -13,027,111 | -45.0% | 15,929,234 |
| TD Asset Management Inc | -8,772,820 | -22.0% | 31,168,077 |
| FIL Ltd | -7,954,654 | -67.7% | 3,797,221 |
| HEALTHCARE OF ONTARIO PENSION PLAN | -6,664,300 | -17.8% | 30,793,200 |
| Alberta Investment Management Corp | -6,175,625 | -69.6% | 2,701,258 |
| Boston Partners | -4,839,665 | -89.2% | 582,978 |
| JANUS HENDERSON GROUP PLC | -3,194,318 | -42.6% | 4,301,460 |
| Connor, Clark & Lunn Investment Man | -2,150,028 | -32.0% | 4,567,458 |
| Capital International Investors | -1,722,037 | -18.9% | 7,389,109 |
| CANADA PENSION PLAN INVESTMENT BOAR | -1,645,100 | -4.1% | 38,636,215 |
| BANK OF AMERICA CORP /DE | -1,537,425 | -27.3% | 4,088,342 |
| Legal & General Group Plc | -1,304,742 | -17.8% | 6,041,888 |
| PICTON MAHONEY ASSET MANAGEMENT | -1,110,625 | -20.6% | 4,270,778 |
| Canoe Financial LP | -996,162 | -29.0% | 2,437,345 |