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.
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%)
Top Buyers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
HIM
Hillsdale Investment Management
Toronto,
Ontario, Canada
|
+$11.4M |
| 2 |
National Bank of Canada
Montreal,
Quebec, Canada
|
+$4.94M |
| 3 |
Acadian Asset Management
Boston,
Massachusetts
|
+$3.07M |
| 4 |
Connor, Clark & Lunn Investment Management (CC&L)
Vancouver,
British Columbia, Canada
|
+$2.34M |
| 5 |
TPM
Triasima Portfolio Management
Montreal,
Quebec, Canada
|
+$1.76M |
Top Sellers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
PAMP
Polar Asset Management Partners
Toronto,
Ontario, Canada
|
-$10.4M |
| 2 |
CC
Cannell Capital
Alta,
Wyoming
|
-$2.43M |
| 3 |
CP
Cumberland Partners
Toronto,
Ontario, Canada
|
-$2.3M |
| 4 |
IIM
Intact Investment Management
Montreal,
Quebec, Canada
|
-$1.74M |
| 5 |
AI
Acuitas Investments
Seattle,
Washington
|
-$956K |
| Name | Holding | Trade Value |
Shares Change |
Change in Stake |
|
|---|---|---|---|---|---|
76
Jane Street
New York
| – | -$223K | -16,710 | Closed |
|
77
Citadel Advisors
Miami,
Florida
| – | -$216K | -16,190 | Closed |
|
|
IA
78
IFP Advisors
Tampa,
Florida
| – | -$1K | -1 | Closed |
|
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.