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NOA

North American Construction
NOA

77 hedge funds and large institutions have $230M invested in North American Construction in 2026 Q1 according to their latest regulatory filings, with 12 funds opening new positions, 34 increasing their positions, 23 reducing their positions, and 14 closing their positions.

New
Increased
Maintained
Reduced
Closed

48% more repeat investments, than reductions

Existing positions increased: 34 | Existing positions reduced: 23

1.99% more ownership

Funds ownership: 57.54% → 59.53% (+2%)

0% more funds holding in top 10

Funds holding in top 10: 3 → 3 (0)

5% less capital invested

Capital invested by funds: $241M → $230M (-$11.8M)

3% less funds holding

Funds holding: 79 → 77 (-2)

14% less first-time investments, than exits

New positions opened: 12 | Existing positions closed: 14

92% less call options, than puts

Call options by funds: $13K | Put options by funds: $154K

Holders
77
Holders Change
-2
Holders Change %
-2.53%
% of All Funds
0.95%
Holding in Top 10
3
Holding in Top 10 Change
–
Holding in Top 10 Change %
–
% of All Funds
0.04%
New
12
Increased
34
Reduced
23
Closed
14
Calls
$13K
Puts
$154K
Net Calls
-$141K
Net Calls Change
-$608K

Top Buyers

1
AIMCA
Alberta Investment Management Corp (AIMCo)
Alberta, Canada
+$6.45M
2
Connor, Clark & Lunn Investment Management (CC&L)
Connor, Clark & Lunn Investment Management (CC&L)
British Columbia, Canada
+$3.45M
3
SC
Simcoe Capital
Washington
+$2.47M
4
Arrowstreet Capital
Arrowstreet Capital
Massachusetts
+$2.42M
5
IECM
Intrinsic Edge Capital Management
Illinois
+$1.83M

Top Sellers

1
Millennium Management
Millennium Management
New York
-$4.86M
2
PAMP
Polar Asset Management Partners
Ontario, Canada
-$3.32M
3
BAM
Bastion Asset Management
Canada
-$2.88M
4
Jane Street
Jane Street
New York
-$2.62M
5
CP
CenterBook Partners
Connecticut
-$2.37M
Name Holding Trade Value Shares
Change 		Change in
Stake
QC
26
Quadrature Capital
United Kingdom
$1.82M +$257K +16,860 +14%
Citadel Advisors
27
Citadel Advisors
Florida
$1.64M +$747K +48,913 +67%
Bank of America
28
Bank of America
North Carolina
$1.28M -$1.62M -106,081 -53%
Envestnet Asset Management
29
Envestnet Asset Management
Illinois
$1.16M +$1.32M +86,318 New
SIA
30
SkyView Investment Advisors
New Jersey
$1.01M +$21.6K +1,416 +2%
JCP
31
JB Capital Partners
New York
$944K +$763K +50,000 +250%
RG
32
Renaissance Group
Kentucky
$888K -$28.8K -1,888 -3%
FDCDDQ
33
Federation des caisses Desjardins du Quebec
Quebec, Canada
$862K +$204K +13,351 +25%
Lazard Asset Management
34
Lazard Asset Management
New York
$784K +$640K +41,954 +259%
CP
35
CenterBook Partners
Connecticut
$740K -$2.37M -155,356 -74%
KJHP
36
K.J. Harrison & Partners
Ontario, Canada
$707K -$605K -39,642 -43%
PP
37
PDT Partners
New York
$656K +$742K +48,639 New
SA
38
Sanctuary Advisors
Indiana
$612K +$693K +45,384 New
OIA
39
OneDigital Investment Advisors
Kansas
$548K +$4.47K +293 +0.7%
TD Asset Management
40
TD Asset Management
Ontario, Canada
$526K +$69.9K +4,580 +13%
Royal Bank of Canada
41
Royal Bank of Canada
Ontario, Canada
$492K -$233K -15,231 -29%
JP Morgan Chase
42
JP Morgan Chase
New York
$395K +$324K +21,199 +233%
FCH
43
Freestone Capital Holdings
Washington
$371K – – –
Mackenzie Financial
44
Mackenzie Financial
Ontario, Canada
$353K +$4.82K +316 +1%
Point72 Asset Management
45
Point72 Asset Management
Connecticut
$347K -$1.02M -66,744 -72%
MCM
46
MAI Capital Management
Ohio
$291K – – –
Millennium Management
47
Millennium Management
New York
$273K -$4.86M -318,611 -94%
UBS Group
48
UBS Group
Switzerland
$260K -$988K -64,745 -77%
MDCM
49
Morgan Dempsey Capital Management
Wisconsin
$257K +$291K +19,080 New
Qube Research & Technologies (QRT)
50
Qube Research & Technologies (QRT)
United Kingdom
$252K +$105K +6,885 +58%
1
2
3 4

NOA Hedge Fund Activity: Q1 2026 in Review

77 of the 8,126 institutional investors tracked by Wall St. Rank reported a position in North American Construction (NOA) for Q1 2026, worth a combined $230M — down 4.9% from $241M a quarter earlier.

Sellers outnumbered buyers: 14 funds closed out of NOA and 12 opened new positions — a net loss of 2 holders — while 23 trimmed existing stakes and 34 added.

The largest buyer was Alberta Investment Management Corp (AIMCo), opening a new position worth an estimated $6.45M. The largest seller was Millennium Management, cutting an estimated $4.86M.

  • 77 institutional investors held North American Construction (NOA) as of Q1 2026, down from 79 in Q4 2025.
  • Funds reported $230M of North American Construction stock for Q1 2026, down 4.9% quarter-over-quarter.
  • 12 funds opened new North American Construction positions in Q1 2026 and 14 closed out, a net change of -2 holders.
  • The largest North American Construction buyer in Q1 2026 was Alberta Investment Management Corp (AIMCo), an estimated $6.45M added.
  • The largest North American Construction seller in Q1 2026 was Millennium Management, an estimated $4.86M sold.

Based on aggregated 13F filings for Q1 2026.