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NOA

North American Construction
NOA

60 hedge funds and large institutions have $154M invested in North American Construction in 2014 Q2 according to their latest regulatory filings, with 21 funds opening new positions, 19 increasing their positions, 13 reducing their positions, and 4 closing their positions.

New
Increased
Maintained
Reduced
Closed

1,500% more call options, than puts

Call options by funds: $768K | Put options by funds: $48K

425% more first-time investments, than exits

New positions opened: 21 | Existing positions closed: 4

46% more repeat investments, than reductions

Existing positions increased: 19 | Existing positions reduced: 13

40% more funds holding

Funds holding: 43 → 60 (+17)

4% more capital invested

Capital invested by funds: $149M → $154M (+$5.53M)

5.09% less ownership

Funds ownership: 59.47% → 54.38% (-5.1%)

20% less funds holding in top 10

Funds holding in top 10: 5 → 4 (-1)

Holders
60
Holders Change
+17
Holders Change %
+39.53%
% of All Funds
1.72%
Holding in Top 10
4
Holding in Top 10 Change
-1
Holding in Top 10 Change %
-20%
% of All Funds
0.11%
New
21
Increased
19
Reduced
13
Closed
4
Calls
$768K
Puts
$48K
Net Calls
+$720K
Net Calls Change
+$528K

Top Buyers

Rank Fund Capital Flow
1
Connor, Clark & Lunn Investment Management (CC&L)
Connor, Clark & Lunn Investment Management (CC&L)
British Columbia, Canada
+$20M
2
PAMP
Polar Asset Management Partners
Ontario, Canada
+$6.53M
3
TD Asset Management
TD Asset Management
Ontario, Canada
+$5.19M
4
OSAM
O'Shaughnessy Asset Management
Connecticut
+$4.5M
5
HIM
Hillsdale Investment Management
Ontario, Canada
+$2.69M

Top Sellers

Rank Fund Capital Flow
1
HH
Harbinger Holdings
New York
-$50.6M
2
Invesco
Invesco
Georgia
-$6.79M
3
FCG
FrontFour Capital Group
Connecticut
-$2.61M
4
BC
Brookfield Corp
Ontario, Canada
-$1.8M
5
KCM
Kennedy Capital Management
Missouri
-$474K
Name Holding Trade Value Shares
Change 		Change in
Stake
Connor, Clark & Lunn Investment Management (CC&L)
1
Connor, Clark & Lunn Investment Management (CC&L)
British Columbia, Canada
$22M +$20M +2,555,900 New
FCG
2
FrontFour Capital Group
Connecticut
$20.7M -$2.61M -333,100 -11%
CC
3
Cannell Capital
Wyoming
$15.1M +$1.7M +216,718 +13%
PGIM
4
Pacific Global Investment Management
California
$11.7M +$146K +18,650 +1%
Invesco
5
Invesco
Georgia
$10.8M -$6.79M -868,396 -39%
Bank of Montreal
6
Bank of Montreal
Ontario, Canada
$9.11M -$54.5K -6,965 -0.6%
CCPM
7
Cooper Creek Partners Management
New York
$8.54M -$187K -23,900 -2%
PAMP
8
Polar Asset Management Partners
Ontario, Canada
$6.71M +$6.53M +834,700 New
OSAM
9
O'Shaughnessy Asset Management
Connecticut
$5.73M +$4.5M +574,597 +418%
TD Asset Management
10
TD Asset Management
Ontario, Canada
$5.35M +$5.19M +663,000 New
HIM
11
Hillsdale Investment Management
Ontario, Canada
$4.09M +$2.69M +343,588 +209%
BC
12
Brookfield Corp
Ontario, Canada
$3.83M -$1.8M -229,957 -33%
Acadian Asset Management
13
Acadian Asset Management
Massachusetts
$3.31M – – –
Renaissance Technologies
14
Renaissance Technologies
New York
$3.13M +$1.87M +238,843 +160%
KJHP
15
K.J. Harrison & Partners
Ontario, Canada
$2.65M +$458K +58,500 +22%
Royal Bank of Canada
16
Royal Bank of Canada
Ontario, Canada
$2.31M +$2.04M +260,400 +975%
DAL
17
David A. Lorber
$2.17M +$142K +18,100 +7%
RFC
18
Russell Frank Company
Washington
$1.7M +$1.79M +228,276 New
Morgan Stanley
19
Morgan Stanley
New York
$1.58M +$842K +107,634 +121%
FP
20
Foundry Partners
Minnesota
$1.37M -$310K -39,600 -19%
CAM
21
ClariVest Asset Management
California
$1.33M +$867K +110,823 +204%
BIT
22
BlackRock Institutional Trust
California
$968K +$657K +83,971 +232%
BCM
23
Bridgeway Capital Management
Texas
$846K – – –
EI
24
EAM Investors
California
$775K +$753K +96,245 New
PIC
25
PCJ Investment Counsel
Ontario, Canada
$766K +$743K +95,000 New
1
2 3

NOA Hedge Fund Activity: Q2 2014 in Review

60 of the 3,479 institutional investors tracked by Wall St. Rank reported a position in North American Construction (NOA) for Q2 2014, worth a combined $154M — up 3.7% from $149M a quarter earlier.

Buyers outnumbered sellers: 21 funds opened new NOA positions and 4 closed out — a net gain of 17 holders — while 19 added to existing stakes and 13 trimmed.

The largest buyer was Connor, Clark & Lunn Investment Management (CC&L), opening a new position worth an estimated $20M. The largest seller was Harbinger Holdings, exiting entirely with an estimated $50.6M sold.

  • 60 institutional investors held North American Construction (NOA) as of Q2 2014, up from 43 in Q1 2014.
  • Funds reported $154M of North American Construction stock for Q2 2014, up 3.7% quarter-over-quarter.
  • 21 funds opened new North American Construction positions in Q2 2014 and 4 closed out, a net change of +17 holders.
  • The largest North American Construction buyer in Q2 2014 was Connor, Clark & Lunn Investment Management (CC&L), an estimated $20M added.
  • The largest North American Construction seller in Q2 2014 was Harbinger Holdings, an estimated $50.6M sold.

Based on aggregated 13F filings for Q2 2014.