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NOA

North American Construction
NOA

73 hedge funds and large institutions have $265M invested in North American Construction in 2023 Q1 according to their latest regulatory filings, with 17 funds opening new positions, 22 increasing their positions, 20 reducing their positions, and 5 closing their positions.

New
Increased
Maintained
Reduced
Closed

240% more first-time investments, than exits

New positions opened: 17 | Existing positions closed: 5

50% more funds holding in top 10

Funds holding in top 10: 2 → 3 (+1)

32% more capital invested

Capital invested by funds: $201M → $265M (+$64.1M)

20% more funds holding

Funds holding: 61 → 73 (+12)

10% more repeat investments, than reductions

Existing positions increased: 22 | Existing positions reduced: 20

2.86% more ownership

Funds ownership: 54.28% → 57.13% (+2.9%)

Holders
73
Holders Change
+12
Holders Change %
+19.67%
% of All Funds
1.16%
Holding in Top 10
3
Holding in Top 10 Change
+1
Holding in Top 10 Change %
+50%
% of All Funds
0.05%
New
17
Increased
22
Reduced
20
Closed
5
Calls
$12K
Puts
–
Net Calls
+$12K
Net Calls Change
+$13K

Top Buyers

Rank Fund Capital Flow
1
HIM
Hillsdale Investment Management
Ontario, Canada
+$11.4M
2
National Bank of Canada
National Bank of Canada
Quebec, Canada
+$4.94M
3
Acadian Asset Management
Acadian Asset Management
Massachusetts
+$3.07M
4
Connor, Clark & Lunn Investment Management (CC&L)
Connor, Clark & Lunn Investment Management (CC&L)
British Columbia, Canada
+$2.34M
5
TPM
Triasima Portfolio Management
Quebec, Canada
+$1.76M

Top Sellers

Rank Fund Capital Flow
1
PAMP
Polar Asset Management Partners
Ontario, Canada
-$10.4M
2
CC
Cannell Capital
Wyoming
-$2.43M
3
CP
Cumberland Partners
Ontario, Canada
-$2.3M
4
IIM
Intact Investment Management
Quebec, Canada
-$1.74M
5
AI
Acuitas Investments
Washington
-$956K
Name Holding Trade Value Shares
Change 		Change in
Stake
Millennium Management
26
Millennium Management
New York
$1.58M +$1.16M +74,994 +383%
Two Sigma Investments
27
Two Sigma Investments
New York
$1.56M +$1.29M +82,936 +786%
American Century Companies
28
American Century Companies
Missouri
$1.27M +$342K +22,046 +40%
Envestnet Asset Management
29
Envestnet Asset Management
Illinois
$1.27M +$1.18M +75,762 New
Goldman Sachs
30
Goldman Sachs
New York
$1.25M -$558K -35,975 -33%
AI
31
Acuitas Investments
Washington
$1.14M -$956K -61,616 -47%
DWM
32
Dorchester Wealth Management
Quebec, Canada
$1.09M -$667K -42,975 -40%
PCM
33
PenderFund Capital Management
British Columbia, Canada
$1.01M – – –
QC
34
Quadrature Capital
United Kingdom
$1.01M +$940K +60,600 New
RA
35
Royce & Associates
New York
$835K – – –
Janney Montgomery Scott
36
Janney Montgomery Scott
Pennsylvania
$743K +$66.2K +4,267 +11%
Marshall Wace
37
Marshall Wace
United Kingdom
$632K +$431K +27,749 +274%
Two Sigma Advisers
38
Two Sigma Advisers
New York
$626K +$582K +37,500 New
MCM
39
MAI Capital Management
Ohio
$540K – – –
FCH
40
Freestone Capital Holdings
Washington
$459K – – –
CHAM
41
Clear Harbor Asset Management
Connecticut
$426K – – –
OSAM
42
O'Shaughnessy Asset Management
Connecticut
$422K +$155K +10,007 +66%
Morgan Stanley
43
Morgan Stanley
New York
$408K -$663K -42,719 -64%
Russell Investments Group
44
Russell Investments Group
United Kingdom
$405K +$377K +24,296 New
SEI Investments
45
SEI Investments
Pennsylvania
$325K +$302K +19,467 New
RJFSA
46
Raymond James Financial Services Advisors
Florida
$282K -$52K -3,351 -17%
BlackRock
47
BlackRock
New York
$254K +$49.6K +3,198 +27%
TP
48
Tranquility Partners
Tennessee
$247K -$22K -1,417 -9%
SIA
49
SkyView Investment Advisors
New Jersey
$245K +$1.91K +123 +0.8%
Bank of America
50
Bank of America
North Carolina
$232K -$196K -12,606 -48%
1
2
3 4

NOA Hedge Fund Activity: Q1 2023 in Review

73 of the 6,275 institutional investors tracked by Wall St. Rank reported a position in North American Construction (NOA) for Q1 2023, worth a combined $265M — up 32% from $201M a quarter earlier.

Buyers outnumbered sellers: 17 funds opened new NOA positions and 5 closed out — a net gain of 12 holders — while 22 added to existing stakes and 20 trimmed.

The largest buyer was Hillsdale Investment Management, adding an estimated $11.4M. The largest seller was Polar Asset Management Partners, cutting an estimated $10.4M.

  • 73 institutional investors held North American Construction (NOA) as of Q1 2023, up from 61 in Q4 2022.
  • Funds reported $265M of North American Construction stock for Q1 2023, up 32% quarter-over-quarter.
  • 17 funds opened new North American Construction positions in Q1 2023 and 5 closed out, a net change of +12 holders.
  • The largest North American Construction buyer in Q1 2023 was Hillsdale Investment Management, an estimated $11.4M added.
  • The largest North American Construction seller in Q1 2023 was Polar Asset Management Partners, an estimated $10.4M sold.

Based on aggregated 13F filings for Q1 2023.