Canadian Natural Resources Limited
US ˙ NYSE ˙ CA1363851017

SecurityCNQ / Canadian Natural Resources Limited
InstitutionFirst Manhattan Co
Latest Disclosed Ownership1,158,981 shares
Latest Disclosed Value $ 56,991,446
First Manhattan Co reports 17.31% decrease in ownership of CNQ / Canadian Natural Resources Limited

On May 15, 2026 - First Manhattan Co filed a 13F-HR form disclosing ownership of 1,158,981 shares of Canadian Natural Resources Limited (US:CNQ) valued at $56,477,144 USD as of March 31, 2026. The entity filed a previous 13F-HR on February 17, 2026 disclosing 1,401,603 shares of Canadian Natural Resources Limited. This represents a change in shares of -17.31% during the quarter. The current value of the position is $55,271,804 USD.

Institutional Ownership: 13F and NPORT Filings

The Security and Class in the table below are shown exactly as filed by the investor. We do our best to track continuity of investments through acquisitions, and this will be reflected in the table as changes in names. In addition to descriptive data, performance of the investment is shown over time. To calculate quarterly performance, we first calculate cost basis of the shares purchased during the quarter, then use that to calculate gross profit. Quarterly return is Gross Profit / Starting Portfolio value.

Note that cost basis is calculated and stored in thousands, so small quarterly changes in shares frequently result in a cost basis of zero.

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Disclosed Equity Positions (from 13F/NPORT Filings)
File
Date		 Effective
Date		Form Security Class ID Avg Price
Paid (Est)		 Reported
Shares		 ΔShares ΔShares
(%)		 Reported
Value
(x1000)		 ΔValue
(%)		 Alloc
(%)		 ΔAlloc ΔAlloc (%) Cost Basis
(x1000)		 Unrealized
Gain/Loss
(x1000)
2026-05-15 2026-03-31 13F CANADIAN NAT RES LTD MED TER COM 136385101 1,158,981 -242,622 -17.31 56,991 18.68 0.1580
2026-02-17 2025-12-31 13F CANADIAN NAT RES COM 136385101 1,401,603 -48,221 -3.33 48,023 2.30 0.1261
2025-11-14 2025-09-30 13F CANADIAN NAT RES COM 136385101 1,449,824 45,414 3.23 46,942 5.03 0.1240
2025-08-14 2025-06-30 13F CANADIAN NAT RES COM 136385101 1,404,410 9,258 0.66 44,693 2.66 0.1262
2025-05-15 2025-03-31 13F CANADIAN NAT RES COM 136385101 1,395,152 -24,583 -1.73 43,535 -1.89 0.1270
2025-02-14 2024-12-31 13F CANADIAN NAT RES COM 136385101 1,419,735 -28,210 -1.95 44,376 -8.77 0.1302
2024-11-14 2024-09-30 13F CANADIAN NAT RES COM 136385101 1,447,945 -37,395 -2.52 48,644 -8.98 0.1442
2024-08-15 2024-06-30 13F/A-1 CANADIAN NAT RES COM 136385101 1,485,340 708,736 91.26 53,442 -9.83 0.1714
2024-08-14 2024-06-30 13F CANADIAN NAT RES COM 136385101 1,485,340 708,736 53,442 0.1714
2024-05-15 2024-03-31 13F CANADIAN NAT RES COM 136385101 776,604 -33,217 -4.10 59,272 11.71 0.1920
2024-02-13 2023-12-31 13F CANADIAN NAT RES COM 136385101 809,821 -31,969 -3.80 53,061 -2.53 0.1841
2023-11-14 2023-09-30 13F CANADIAN NAT RES COM 136385101 841,790 -18,969 -2.20 54,439 12.41 0.2010
2023-08-14 2023-06-30 13F CANADIAN NAT RES COM 136385101 860,759 -26,391 -2.97 48,426 -1.38 0.1774
2023-05-15 2023-03-31 13F CANADIAN NAT RES COM 136385101 887,150 -74,709 -7.77 49,104 -8.07 0.1883
2023-02-14 2022-12-31 13F CANADIAN NAT RES COM 136385101 961,859 -9,457 -0.97 53,412 18.08 0.1957
2022-11-14 2022-09-30 13F CANADIAN NAT RES COM 136385101 971,316 7,563 0.78 45,234 -12.56 0.1916
2022-08-15 2022-06-30 13F CANADIAN NAT RES COM 136385101 963,753 -1,778 -0.18 51,734 -13.55 0.2085
2022-05-16 2022-03-31 13F CANADIAN NAT RES COM 136385101 965,531 -287,936 -22.97 59,843 13.00 0.1957
2022-02-14 2021-12-31 13F CANADIAN NAT RES COM 136385101 1,253,467 -88,828 -6.62 52,959 7.98 0.1745
2021-11-15 2021-09-30 13F CANADIAN NAT RES COM 136385101 1,342,295 -44,674 -3.22 49,047 -2.53 0.1807
2021-08-16 2021-06-30 13F CANADIAN NAT RES COM 136385101 1,386,969 -33,593 -2.36 50,319 14.75 0.1837
2021-05-14 2021-03-31 13F CANADIAN NAT RES COM 136385101 1,420,562 -99,366 -6.54 43,852 19.96 0.1890
2021-02-16 2020-12-31 13F CANADIAN NAT RES COM 136385101 1,519,928 81,229 5.65 36,554 58.70 0.1749
2020-11-12 2020-09-30 13F CDN NATURAL RES COMMON 136385101 1,438,699 46,780 3.36 23,033 -5.06 0.1187
2020-08-14 2020-06-30 13F CDN NATURAL RES COMMON 136385101 1,391,919 -3,679 -0.26 24,261 28.30 0.1402
2020-05-06 2020-03-31 13F CDN NATURAL RES COMMON 136385101 1,395,598 -81,875 -5.54 18,910 -60.44 0.1226
2020-02-13 2019-12-31 13F CDN NATURAL RES COMMON 136385101 1,477,473 -416,101 -21.97 47,796 -5.21 0.2398
2019-11-13 2019-09-30 13F CDN NATURAL RES COMMON 136385101 1,893,574 -2,040,663 -51.87 50,425 -52.48 0.2778
2019-08-16 2019-06-30 13F CDN NATURAL RES COMMON 136385101 3,934,237 80,885 2.10 106,106 0.13 0.5891
2019-04-12 2019-03-31 13F CDN NATURAL RES COMMON 136385101 3,853,352 -2,882 -0.07 105,967 13.88 0.6117
2019-01-30 2018-12-31 13F CDN NATURAL RES COMMON 136385101 3,856,234 797,164 26.06 93,050 -6.87 0.5792
2018-10-15 2018-09-30 13F CDN NATURAL RES COMMON 136385101 3,059,070 -11,492 -0.37 99,909 -9.79 0.5325
2018-08-01 2018-06-30 13F CDN NATURAL RES COMMON 136385101 3,070,562 15,751 0.52 110,755 15.21 0.6386
2018-04-20 2018-03-31 13F CDN NATURAL RES COMMON 136385101 3,054,811 -11,719 -0.38 96,134 -12.24 0.5470
2018-01-22 2017-12-31 13F CDN NATURAL RES COMMON 136385101 3,066,530 3,843 0.13 109,536 6.79 0.6002
2017-10-25 2017-09-30 13F CDN NATURAL RES COMMON 136385101 3,062,687 67,961 2.27 102,569 18.76 0.5874
2017-08-10 2017-06-30 13F/A-2 CDN NATURAL RES COMMON 136385101 2,994,726 99,324 3.43 86,367 -9.03 0.5036
2017-08-01 2017-06-30 13F/A-1 CDN NATURAL RES COMMON 136385101 2,994,726 0 86,367 0.5036
2017-07-28 2017-06-30 13F CDN NATURAL RES COMMON 136385101 2,994,726 99,324 86,367
2017-04-25 2017-03-31 13F/A-1 CDN NATURAL RES COMMON 136385101 2,895,402 461,824 18.98 94,940 22.37 0.5640
2017-04-24 2017-03-31 13F CDN NATURAL RES COMMON 136385101 2,417,956 77,471
2017-01-25 2016-12-31 13F CDN NATURAL RES COMMON 136385101 2,433,578 15,622 0.65 77,582 0.14 0.4718
2016-10-20 2016-09-30 13F CDN NATURAL RES COMMON 136385101 2,417,956 -20,570 -0.84 77,471 3.05 0.4725
2016-07-14 2016-06-30 13F CDN NATURAL RES COMMON 136385101 2,438,526 3,937 0.16 75,179 14.37 0.4618
2016-04-22 2016-03-31 13F CDN NATURAL RES COMMON 136385101 2,434,589 -76,411 -3.04 65,733 19.92 0.4044
2016-01-20 2015-12-31 13F CDN NATURAL RES COMMON 136385101 2,511,000 -78,450 -3.03 54,815 8.84 0.3364
2015-10-26 2015-09-30 13F CDN NATURAL RES COMMON 136385101 2,589,450 216,819 9.14 50,364 -21.84 0.3238
2015-07-17 2015-06-30 13F CDN NATURAL RES COMMON 136385101 2,372,631 16,222 0.69 64,440 -10.95 0.3805
2015-04-30 2015-03-31 13F CDN NATURAL RES COMMON 136385101 2,356,409 194,219 8.98 72,365 8.38 0.4169
2015-01-20 2014-12-31 13F CDN NATURAL RES COMMON 136385101 2,162,190 -56,592 -2.55 66,768 -22.52 0.3780
2014-10-23 2014-09-30 13F CDN NATURAL RES COMMON 136385101 2,218,782 -13,220 -0.59 86,177 -15.90 0.5012
2014-08-14 2014-06-30 13F/A-1 CDN NATURAL RES COMMON 136385101 2,232,002 -1,900 -0.09 102,471 19.55 0.6494
2014-05-16 2014-03-31 13F CDN NATURAL RES COMMON 136385101 2,233,902 1,525 0.07 85,714 13.46 0.5647
2014-02-04 2013-12-31 13F CDN NATURAL RES COMMON 136385101 2,232,377 870 0.04 75,543 7.68 0.4993
2013-10-29 2013-09-30 13F CDN NATURAL RES COMMON 136385101 2,231,507 6,600 0.30 70,158 1.30 0.4899
2013-08-13 2013-06-30 13F CDN NATURAL RES COMMON 136385101 2,224,907 2,224,907 69,261 0.4765
Legend
Shares
The total number of shares held by the institution at the end of the reporting period (the effective date). This is provided in the filing.
Value
The total value of the shares as of the effective date. This is provided in the filing.
Avg. Share Price
The weighted average share price of the shares held by the institution. We use FIFO accounting to determine this price
Class
This is the security class as indicated by the filer. There are a variety of values for this field. Common values include "EC" = equity common, "EP" - equity preferred
Allocation (%)
The percent of the institution's portfolio that this position represents. This is provided in NPORT filings. For 13F filings, we calculate it.
Change in Allocation
The change in allocation from the prior reporting period. This is calculated as current allocation - prior allocation.
Change in Allocation (%)
The percent change in allocation from the prior reporting period. This is calculated as (current allocation - prior allocation) / prior allocation.
Cost Basis
The total cost of the shares held. This is calculated as reported shares * avg. share price
Unrealized Gain/Loss
This is the market value of the position as of the effective date minus the cost basis.