Cenovus Energy

CVE • NYSE

Cenovus Energy is a oil & gas integrated company in the energy sector on NYSE, led by Jonathan McKenzie, with a market cap of $34.1B. As of Q3 2025, 52% of shares are held by 366 institutional investors, with Capital World Investors as the largest holder at 8.67%.

CEOJonathan McKenzie

Market Cap$34.1B

Oil & Gas Integrated

Energy

Employees6.9K

Websitecenovus.com

Overview

Overview of institutional ownership in CVE as of Q3 2025 with a market cap of $30.6B

All Institutions

Institutions: 366
Value Held: $16.0B
Shares Held: 941.3M
Avg Position: $43.8M
Median Position: $996.6K

Hedge Funds

Hedge Funds: 37
Value Held: $736.4M
Shares Held: 43.3M
Avg Position: $19.9M
Median Position: $6.8M

Ownership Breakdown

Institutional (non-HF)

50.02%

$15.3B

Hedge Funds

2.41%

$736.4M

Retail & Other

47.57%

$14.5B

Based on market cap of $30.6B as of Q3 2025. Institutional (non-HF) excludes hedge funds to avoid double counting.

Biggest Investors

Institutions with the largest positions in CVE as of Q3 2025

Institution	Key People	Position Value	Ownership	Owned Since	Total AUM (Long)
C Capital World Investors Institution	-	$2.6B 0.36% of portfolio	8.67% 156.0M shares	Q3 2017 Held for 8y 3m	$730.00B
Capital Research Global Investors RIA/Wealth	Maria Alejandra Herrera CIO	$1.8B 0.34% of portfolio	5.92% 106.6M shares	Q2 2018 Held for 7y 6m	$532.36B
VANGUARD GROUP INC Institution	Salim Ramji CEO	$956.4M 0.01% of portfolio	3.13% 56.3M shares	Q1 2015 Held for 10y 9m	$6.69T
C Capital International Investors Institution	-	$833.5M 0.13% of portfolio	2.73% 49.1M shares	Q4 2021 Held for 4 years	$617.62B
R ROYAL BANK OF CANADA Institution	-	$660.9M 0.12% of portfolio	2.16% 38.9M shares	≤ Q2 2013 Held for 12y 6m+	$542.04B
FMR LLC Institution	-	$587.2M 0.03% of portfolio	1.92% 34.6M shares	≤ Q2 2013 Held for 12y 6m+	$1.92T
MACKENZIE FINANCIAL CORP Long Only Manager	Joseph Luke Gregoire Gould CEO	$520.2M 0.63% of portfolio	1.70% 30.6M shares	≤ Q2 2013 Held for 12y 6m+	$82.7B
F FIL Ltd Institution	-	$467.2M 0.37% of portfolio	1.53% 27.5M shares	Q2 2018 Held for 7y 6m	$127.75B
Robeco Investment Management, Inc. Long Only Manager	Joseph Francis Feeney CEO	$409.3M 0.42% of portfolio	1.24% 22.2M shares	Q1 2020 Held for 5y 9m	$97.8B
GOLDMAN SACHS GROUP INC Institution	David M. Solomon CEO	$348.9M 0.05% of portfolio	1.14% 20.5M shares	≤ Q2 2013 Held for 12y 6m+	$691.37B

Net Capital Flow

Institutional buying and selling activity for CVE in Q3 2025

Traded: +$1.1B
Buyers: 185
Sellers: 192
Total Bought: +$3.5B
Total Sold: −$2.3B
Avg Position: $36.4M

Biggest Buyers

Institution	Net Bought	Current Position
Capital Research Global Investors RIA/Wealth	+$1.3B +79.3M shares	$1.8B 106.6M shares
F FIL Ltd Institution	+$463.2M +27.3M shares	$467.2M 27.5M shares
MACKENZIE FINANCIAL CORP Long Only Manager	+$165.6M +9.8M shares	$520.2M 30.6M shares
CIBC Global Asset Management Inc Long Only Manager	+$161.8M +9.5M shares	$194.5M 11.4M shares
M MANUFACTURERES LIFE INSURANCE CO Institution	+$128.6M +7.6M shares	$206.2M 12.1M shares
BANK OF MONTREAL /CAN/ Institution	+$114.1M +6.7M shares	$313.8M 18.5M shares
Federation des caisses Desjardins du Quebec Fund of Funds	+$105.6M +6.2M shares	$170.6M 10.1M shares
MASSACHUSETTS FINANCIAL SERVICES CO /MA/ Long Only Manager	+$67.0M +3.9M shares	$245.1M 14.4M shares
Connor, Clark & Lunn Investment Management Ltd. Long Only Manager	+$66.4M +3.9M shares	$80.9M 4.8M shares
TORONTO DOMINION BANK Institution	+$61.6M +3.6M shares	$146.6M 8.6M shares

Biggest Sellers

Institution	Net Sold	Current Position
C Capital World Investors Institution	−$487.1M −28.7M shares	$2.6B 156.0M shares
MILLENNIUM MANAGEMENT LLC Hedge Fund•Multi-Strategy	−$353.3M −20.8M shares	$47.9M 2.8M shares
ARROWSTREET CAPITAL LIMITED PARTNERSHIP Hedge Fund•Quant	−$229.8M −16.9M shares	Sold Off 0 shares
C Capital International Investors Institution	−$204.6M −12.0M shares	$833.5M 49.1M shares
C CANADA PENSION PLAN INVESTMENT BOARD Institution	−$182.2M −10.7M shares	$81.3M 4.8M shares
D D. E. Shaw & Co., Inc. Institution	−$111.2M −6.6M shares	$61.4M 3.6M shares
T TD ASSET MANAGEMENT INC Institution	−$107.6M −6.3M shares	$278.5M 16.4M shares
N NATIONAL BANK OF CANADA /FI/ Institution	−$103.4M −6.1M shares	$105.1M 6.2M shares
GOLDMAN SACHS GROUP INC Institution	−$97.3M −5.7M shares	$348.9M 20.5M shares
Robeco Investment Management, Inc. Long Only Manager	−$84.9M −4.6M shares	$409.3M 22.2M shares

Entry and Exit Activity

Institutions that initiated new positions or completely exited CVE in Q3 2025

New Positions: 17
New Value: $17.9M
Exited Positions: 74
Exited Value: $357.3M

New Positions

Institution	Position Value
AEGIS FINANCIAL CORP Long Only Manager	$15.6M 920.5K shares
A ASAHI LIFE ASSET MANAGEMENT CO., LTD. Institution	$381.0K 22.4K shares
C CAPROCK Group, Inc. Fund of Funds	$354.0K 21.3K shares
Bleakley Financial Group, LLC RIA/Wealth	$342.7K 20.2K shares
Beacon Pointe Advisors, LLC RIA/Wealth	$214.0K 12.6K shares
Streettalk Advisors, LLC RIA/Wealth	$190.5K 11.2K shares
R Ritter Alpha, LP Institution	$186.1K 11.0K shares
Atomi Financial Group, Inc. RIA/Wealth	$177.6K 10.5K shares
DiMeo Schneider & Associates, L.L.C. Pension/Endowment	$169.9K 10.0K shares
P PenderFund Capital Management Ltd. Institution	$169.8K 10.0K shares

Exited Positions

Institution	Previous Position
ARROWSTREET CAPITAL LIMITED PARTNERSHIP Hedge Fund•Quant	$229.8M 16.9M shares
P Panview Capital Ltd Institution	$18.4M 1.4M shares
HITE Hedge Asset Management LLC Hedge Fund•Long/Short	$13.3M 977.2K shares
J Jump Financial, LLC Institution	$12.5M 921.2K shares
O ONTARIO TEACHERS PENSION PLAN BOARD Institution	$10.8M 795.5K shares
UBS GLOBAL ASSET MANAGEMENT AMERICAS INC Long Only Manager	$9.8M 719.5K shares
C Cubist Systematic Strategies, LLC Institution	$6.8M 499.8K shares
A AustralianSuper Pty Ltd Institution	$6.4M 470.5K shares
ING INVESTMENT MANAGEMENT LLC Insurance Manager	$5.0M 367.3K shares
D De Lisle Partners LLP Institution	$3.7M 270.0K shares

Options Activity

Institutions with the largest Call and Put options positions in CVE as of Q3 2025

Call Positions: 27
Call Value: $208.8M
Put Positions: 22
Put Value: $285.4M

Call Positions

Institution	Position Value
SUSQUEHANNA INTERNATIONAL GROUP, LLP Private Equity	$38.4M 22.6K contracts
J JANE STREET GROUP, LLC Institution	$33.5M 19.7K contracts
D D. E. Shaw & Co., Inc. Institution	$16.6M 9.8K contracts
S SIG North Trading, ULC Institution	$16.3M 9.6K contracts
CITADEL ADVISORS LLC Hedge Fund•Multi-Strategy	$14.3M 8.4K contracts
Caption Management, LLC Hedge Fund•Long/Short	$12.7M 7.5K contracts
R ROYAL BANK OF CANADA Institution	$10.5M 6.2K contracts
P PEAK6 LLC Institution	$9.6M 5.7K contracts
Point72 Asset Management, L.P. Hedge Fund•Multi-Strategy	$9.5M 5.6K contracts
P Parallax Volatility Advisers, LLC Hedge Fund•Vol Arbitrage	$9.3M 5.5K contracts

Put Positions

Institution	Position Value
R ROYAL BANK OF CANADA Institution	$84.3M 49.6K contracts
S SIG North Trading, ULC Institution	$36.8M 21.7K contracts
J JANE STREET GROUP, LLC Institution	$32.5M 19.1K contracts
TORONTO DOMINION BANK Institution	$29.4M 17.3K contracts
SUSQUEHANNA INTERNATIONAL GROUP, LLP Private Equity	$20.4M 12.0K contracts
CITADEL ADVISORS LLC Hedge Fund•Multi-Strategy	$18.3M 10.8K contracts
D D. E. Shaw & Co., Inc. Institution	$15.4M 9.1K contracts
Walleye Trading LLC RIA/Wealth	$9.5M 5.6K contracts
GOLDMAN SACHS GROUP INC Institution	$6.7M 3.9K contracts
Caption Management, LLC Hedge Fund•Long/Short	$5.9M 3.5K contracts

Most Committed Institutions

Institutions with CVE as the highest % of their portfolio as of Q3 2025

Institution	Key People	Portfolio Weight	Ownership	Owned Since	Total AUM (Long)
R Ritter Alpha, LP Institution	-	9.68% $186.1K	0.00% 11.0K shares	Q3 2025 Held for 3 months	$1.9M
T Talaria Asset Management Pty Ltd Institution	-	9.04% $50.2M	0.16% 3.0M shares	Q2 2025 Held for 6 months	$555.8M
Recurrent Investment Advisors LLC Long Only Manager	Mark Jason Laskin Managing Partner	8.62% $112.4M	0.36% 6.4M shares	Q4 2019 Held for 6 years	$1.3B
Ninepoint Partners LP Hedge Fund•Multi-Strategy	James Robert Fox Managing Partner	8.30% $60.1M	0.20% 3.5M shares	Q2 2019 Held for 6y 6m	$724.5M
Greenfield Seitz Capital Management, LLC RIA/Wealth	Stuart Edwards Greenfield Managing Partner	7.34% $22.8M	0.07% 1.3M shares	Q4 2023 Held for 2 years	$310.2M
L L1 Capital Pty Ltd Institution	-	7.18% $113.7M	0.36% 6.5M shares	Q2 2020 Held for 5y 6m	$1.6B
AEGIS FINANCIAL CORP Long Only Manager	Scott Lon Barbee President	5.98% $15.6M	0.05% 920.5K shares	Q3 2025 Held for 3 months	$261.3M
Corigliano Investment Advisers, LLC Hedge Fund•Sector	Mark E Corigliano CEO	5.84% $18.0M	0.06% 1.1M shares	Q2 2025 Held for 6 months	$308.5M
Smead Capital Management, Inc. Long Only Manager	Cole W. Smead CEO	5.37% $278.2M	0.91% 16.4M shares	Q1 2021 Held for 4y 9m	$5.2B
G GeoSphere Capital Management Hedge Fund•Long/Short	Arvind Singh Sanger CIO	4.15% $5.4M	0.02% 320.0K shares	Q2 2025 Held for 6 months	$131.0M

Hedge Fund Spotlight

Discover hedge funds investing in CVE

CITADEL ADVISORS LLC

Hedge Fund • Multi-Strategy

Portfolio ManagerKenneth Cordele Griffin

Portfolio Value: $122.10B
Positions: 5,533
Last Reported: Q3 2025

Sector Allocation

Position in Cenovus Energy

Market Value: $1.3M
Shares Held: 76.4K
Portfolio Weight: 0.00%
Owned Since: 2013-Q2

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