North American Construction
NOA
29 hedge funds and large institutions have $47.9M invested in North American Construction in 2018 Q1 according to their latest regulatory filings, with 1 funds opening new positions, 8 increasing their positions, 15 reducing their positions, and 12 closing their positions.
16.09% less ownership
Funds ownership: 48.38% → 32.29% (-16%)
28% less funds holding
Funds holding: 40 → 29 (-11)
30% less capital invested
Capital invested by funds: $68.7M → $47.9M (-$20.8M)
47% less repeat investments, than reductions
Existing positions increased: 8 | Existing positions reduced: 15
50% less funds holding in top 10
Funds holding in top 10: 2 → 1 (-1)
92% less first-time investments, than exits
New positions opened: 1 | Existing positions closed: 12
Top Buyers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
HIM
Hillsdale Investment Management
Toronto,
Ontario, Canada
|
+$569K |
| 2 |
RA
Royce & Associates
New York
|
+$431K |
| 3 |
Millennium Management
New York
|
+$109K |
| 4 |
JP Morgan Chase
New York
|
+$36.3K |
| 5 |
Renaissance Technologies
New York
|
+$17K |
Top Sellers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
CC
Cannell Capital
Alta,
Wyoming
|
-$14.5M |
| 2 |
SCM
Signia Capital Management
Spokane,
Washington
|
-$3.26M |
| 3 |
PGIM
Pacific Global Investment Management
Glendale,
California
|
-$1.57M |
| 4 |
IIM
Intact Investment Management
Montreal,
Quebec, Canada
|
-$1.38M |
| 5 |
Morgan Stanley
New York
|
-$628K |
| Name | Holding | Trade Value |
Shares Change |
Change in Stake |
|
|---|---|---|---|---|---|
|
GT
26
Glenmede Trust
Philadelphia,
Pennsylvania
| $9K | – | – | – |
|
|
FDCDDQ
27
Federation des caisses Desjardins du Quebec
Levis,
Quebec, Canada
| $7.37K | +$4.98K | +1,000 | +227% |
|
28
PNC Financial Services Group
Pittsburgh,
Pennsylvania
| $2K | – | – | – |
|
|
CC
29
Cannell Capital
Alta,
Wyoming
| – | -$14.5M | -2,936,129 | Closed |
|
|
SCM
30
Signia Capital Management
Spokane,
Washington
| – | -$3.26M | -658,542 | Closed |
|
|
BFM
31
Boothbay Fund Management
New York
| – | -$514K | -103,852 | Closed |
|
|
BRF
32
B. Riley Financial
Los Angeles,
California
| – | -$466K | -94,058 | Closed |
|
33
Russell Investments Group
London,
United Kingdom
| – | -$217K | -43,812 | Closed |
|
|
FCH
34
Freestone Capital Holdings
Seattle,
Washington
| – | -$136K | -27,500 | Closed |
|
35
Goldman Sachs
New York
| – | -$86K | -17,400 | Closed |
|
|
TRCT
36
Tower Research Capital (TRC)
New York
| – | -$43K | -8,637 | -99% |
|
|
GFP
37
Gryphon Financial Partners
Columbus,
Ohio
| – | -$5K | -1,000 | Closed |
|
38
Bank of America
Charlotte,
North Carolina
| – | -$4K | -870 | Closed |
|
NOA Hedge Fund Activity: Q1 2018 in Review
29 of the 4,363 institutional investors tracked by Wall St. Rank reported a position in North American Construction (NOA) for Q1 2018, worth a combined $47.9M — down 30% from $68.7M a quarter earlier.
Sellers outnumbered buyers: 12 funds closed out of NOA and 1 opened new positions — a net loss of 11 holders — while 15 trimmed existing stakes and 8 added.
The largest buyer was Hillsdale Investment Management, adding an estimated $569K. The largest seller was Cannell Capital, exiting entirely with an estimated $14.5M sold.
- 29 institutional investors held North American Construction (NOA) as of Q1 2018, down from 40 in Q4 2017.
- Funds reported $47.9M of North American Construction stock for Q1 2018, down 30% quarter-over-quarter.
- 1 fund opened new North American Construction positions in Q1 2018 and 12 closed out, a net change of -11 holders.
- The largest North American Construction buyer in Q1 2018 was Hillsdale Investment Management, an estimated $569K added.
- The largest North American Construction seller in Q1 2018 was Cannell Capital, an estimated $14.5M sold.
Based on aggregated 13F filings for Q1 2018.