North American Construction
NOA
88 hedge funds and large institutions have $374M invested in North American Construction in 2024 Q4 according to their latest regulatory filings, with 13 funds opening new positions, 38 increasing their positions, 21 reducing their positions, and 5 closing their positions.
160% more first-time investments, than exits
New positions opened: 13 | Existing positions closed: 5
143% more call options, than puts
Call options by funds: $393K | Put options by funds: $162K
81% more repeat investments, than reductions
Existing positions increased: 38 | Existing positions reduced: 21
50% more funds holding in top 10
Funds holding in top 10: 2 → 3 (+1)
15% more capital invested
Capital invested by funds: $324M → $374M (+$50M)
9% more funds holding
Funds holding: 81 → 88 (+7)
2.39% more ownership
Funds ownership: 62.32% → 64.72% (+2.4%)
Top Buyers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
HIM
Hillsdale Investment Management
Toronto,
Ontario, Canada
|
+$7.4M |
| 2 |
ACA
AYAL Capital Advisors
Toronto,
Ontario, Canada
|
+$7.06M |
| 3 |
National Bank of Canada
Montreal,
Quebec, Canada
|
+$3.07M |
| 4 |
Arrowstreet Capital
Boston,
Massachusetts
|
+$2.51M |
| 5 |
UBS Group
Zurich,
Switzerland
|
+$2.4M |
Top Sellers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
PAMP
Polar Asset Management Partners
Toronto,
Ontario, Canada
|
-$13.5M |
| 2 |
CIBC Asset Management
Toronto,
Ontario, Canada
|
-$4.5M |
| 3 |
NAM
NewGen Asset Management
Toronto,
Ontario, Canada
|
-$3.91M |
| 4 |
CC
Cannell Capital
Alta,
Wyoming
|
-$3.16M |
| 5 |
Bank of Montreal
Toronto,
Ontario, Canada
|
-$2.14M |
NOA Hedge Fund Activity: Q4 2024 in Review
88 of the 7,592 institutional investors tracked by Wall St. Rank reported a position in North American Construction (NOA) for Q4 2024, worth a combined $374M — up 15% from $324M a quarter earlier.
Buyers outnumbered sellers: 13 funds opened new NOA positions and 5 closed out — a net gain of 8 holders — while 38 added to existing stakes and 21 trimmed.
The largest buyer was Hillsdale Investment Management, opening a new position worth an estimated $7.4M. The largest seller was Polar Asset Management Partners, cutting an estimated $13.5M.
- 88 institutional investors held North American Construction (NOA) as of Q4 2024, up from 81 in Q3 2024.
- Funds reported $374M of North American Construction stock for Q4 2024, up 15% quarter-over-quarter.
- 13 funds opened new North American Construction positions in Q4 2024 and 5 closed out, a net change of +8 holders.
- The largest North American Construction buyer in Q4 2024 was Hillsdale Investment Management, an estimated $7.4M added.
- The largest North American Construction seller in Q4 2024 was Polar Asset Management Partners, an estimated $13.5M sold.
Based on aggregated 13F filings for Q4 2024.