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Construction Partners
ROAD

332 hedge funds and large institutions have $5.13B invested in Construction Partners in 2025 Q4 according to their latest regulatory filings, with 51 funds opening new positions, 104 increasing their positions, 133 reducing their positions, and 50 closing their positions.

New
Increased
Maintained
Reduced
Closed

378% more call options, than puts

Call options by funds: $13M | Put options by funds: $2.71M

2% more first-time investments, than exits

New positions opened: 51 | Existing positions closed: 50

0.9% more ownership

Funds ownership: 97.68% → 98.58% (+0.9%)

2% less funds holding

Funds holding: 338 → 332 (-6)

13% less capital invested

Capital invested by funds: $5.9B → $5.13B (-$761M)

14% less funds holding in top 10

Funds holding in top 10: 7 → 6 (-1)

22% less repeat investments, than reductions

Existing positions increased: 104 | Existing positions reduced: 133

Holders
332
Holders Change
-6
Holders Change %
-1.78%
% of All Funds
4.04%
Holding in Top 10
6
Holding in Top 10 Change
-1
Holding in Top 10 Change %
-14.29%
% of All Funds
0.07%
New
51
Increased
104
Reduced
133
Closed
50
Calls
$13M
Puts
$2.71M
Net Calls
+$10.3M
Net Calls Change
+$3.98M

Top Buyers

1
Fidelity Investments
Fidelity Investments
Massachusetts
+$77.1M
2
Capital World Investors
Capital World Investors
California
+$47.6M
3
VNIM
Vaughan Nelson Investment Management
Texas
+$44.1M
4
Invesco
Invesco
Georgia
+$32M
5
Goldman Sachs
Goldman Sachs
New York
+$26M

Top Sellers

1
Macquarie Group
Macquarie Group
Australia
-$168M
2
Kayne Anderson Rudnick Investment Management
Kayne Anderson Rudnick Investment Management
California
-$53.5M
3
Vanguard Group
Vanguard Group
Pennsylvania
-$39.4M
4
WA
Wasatch Advisors
Utah
-$38.2M
5
Royal Bank of Canada
Royal Bank of Canada
Ontario, Canada
-$35.4M
Name Holding Trade Value Shares
Change 		Change in
Stake
RFC
126
Regions Financial Corp
Alabama
$2.04M -$311K -2,759 -13%
Credit Agricole
127
Credit Agricole
France
$1.96M – – –
PP
128
PDT Partners
New York
$1.96M -$236K -2,100 -10%
BNP Paribas Financial Markets
129
BNP Paribas Financial Markets
France
$1.92M +$710K +6,305 +55%
HSBC Holdings
130
HSBC Holdings
United Kingdom
$1.79M +$1.21M +10,741 +192%
CFO
131
Callan Family Office
Pennsylvania
$1.63M +$1.37M +12,152 +421%
Handelsbanken Fonder
132
Handelsbanken Fonder
Sweden
$1.6M +$304K +2,700 +23%
MF
133
Magnetar Financial
Illinois
$1.52M +$1.58M +14,048 New
AI
134
Atria Investments
North Carolina
$1.48M +$100K +889 +7%
AWA
135
Arete Wealth Advisors
Illinois
$1.46M +$1.52M +13,458 New
ASRS
136
Arizona State Retirement System
Arizona
$1.42M -$93.8K -833 -6%
AQR Capital Management
137
AQR Capital Management
Connecticut
$1.41M -$53.7K -477 -4%
N
138
Numerai
California
$1.39M -$499K -4,432 -26%
VBA
139
Van Berkom & Associates
Quebec, Canada
$1.39M -$134K -1,194 -9%
PFSRSONJ
140
Police & Firemen's Retirement System of New Jersey
New Jersey
$1.39M -$23.9K -212 -2%
AWM
141
Avior Wealth Management
Nebraska
$1.28M -$820K -7,280 -38%
GT
142
Glenmede Trust
Pennsylvania
$1.28M +$1.32M +11,752 New
Citigroup
143
Citigroup
New York
$1.25M -$408K -3,621 -24%
Los Angeles Capital Management
144
Los Angeles Capital Management
California
$1.25M – – –
State Board of Administration of Florida Retirement System
145
State Board of Administration of Florida Retirement System
Florida
$1.24M – – –
SG Americas Securities
146
SG Americas Securities
New York
$1.23M -$407K -3,612 -24%
SCM
147
Sterling Capital Management
North Carolina
$1.21M +$1.24M +11,000 +9,649%
Verition Fund Management
148
Verition Fund Management
Connecticut
$1.19M -$22.5K -200 -2%
Polen Capital Management
149
Polen Capital Management
Florida
$1.15M -$29K -258 -2%
TC
150
Truvestments Capital
Florida
$1.13M +$111K +984 +10%
4 5
6
7 8

ROAD Hedge Fund Activity: Q4 2025 in Review

332 of the 8,223 institutional investors tracked by Wall St. Rank reported a position in Construction Partners (ROAD) for Q4 2025, worth a combined $5.13B — down 13% from $5.9B a quarter earlier.

Buyers outnumbered sellers: 51 funds opened new ROAD positions and 50 closed out — a net gain of 1 holder — while 104 added to existing stakes and 133 trimmed.

The largest buyer was Fidelity Investments, adding an estimated $77.1M. The largest seller was Macquarie Group, exiting entirely with an estimated $168M sold.

  • 332 institutional investors held Construction Partners (ROAD) as of Q4 2025, down from 338 in Q3 2025.
  • Funds reported $5.13B of Construction Partners stock for Q4 2025, down 13% quarter-over-quarter.
  • 51 funds opened new Construction Partners positions in Q4 2025 and 50 closed out, a net change of +1 holder.
  • The largest Construction Partners buyer in Q4 2025 was Fidelity Investments, an estimated $77.1M added.
  • The largest Construction Partners seller in Q4 2025 was Macquarie Group, an estimated $168M sold.

Based on aggregated 13F filings for Q4 2025.