NOA Hedge Fund Ownership (Q2 2026)

Q: Is it too late to buy North Amern Constr Group Ltd (NOA) following the 2026 Q2 hedge fund 13F filings?

As of today, NOA has moved -11.6% since the 2026 Q2 13F filing date (August 14, 2026), compared to +1.3% for the XLE sector ETF — an outperformance of -12.9%. Since the quarter end (June 30, 2026), NOA gained -8.6% vs +18.1% for XLE. The stock is tracking its sector benchmark closely. The signal remains fresh and the entry point is still near the fund's implied reference.

North Amern Constr Group Ltd (NOA)

71 + Investors. Track Smart Money conviction in NOA. See who's accumulating, reducing, or initiating positions.

Smart Money Signals — NOA

Based on 73 hedge funds · latest filing: 2026 Q2 · updated quarterly

📉

Selling streak — 2 quarters in a row

last 6Q

For 2 consecutive quarters, more hedge funds reduced or closed their NOA positions than added to them. Sustained institutional selling is a meaningful warning sign — these are professionals with deep research teams collectively deciding to exit.

📊

High ownership — 83% of 3.0Y peak

83% of all-time peak

73 funds currently hold this stock — 83% of the 3.0-year high of 88 funds (reached 2023 Q3). Ownership is elevated but not yet at maximum concentration. Room to grow, but watch if the trend reverses.

📉

Outflows — 4% fewer funds vs a year ago

fund count last 6Q

3 fewer hedge funds hold NOA compared to a year ago (-4% decline). When institutions consistently reduce their exposure, it's worth exploring the underlying fundamental reasons driving them away.

🟢

More buyers than sellers — 60% buying

46 buying31 selling

Last quarter: 46 funds were net buyers (9 opened a brand new position + 37 added to an existing one). Only 31 were sellers (18 trimmed + 13 sold completely). A clear majority buying is a strong confirmation signal.

➡️

Steady new buyers — ~9 new funds per quarter

new funds entering per quarter

Funds opening this position for the first time: 9 → 23 → 12 → 9. A stable flow of new institutional buyers suggests ongoing interest without signs of either acceleration or slowdown.

🔒

67% of holders stayed for 2+ years

■ 67% conviction (2yr+) ■ 14% medium ■ 19% new

49 out of 73 hedge funds have held NOA for over 2 years without selling. Long-term investors are generally harder to shake out during market stress, creating a stable ownership base that limits the risk of sudden capitulation.

📊

Peak discovery — momentum slowing

10 → 9 → 23 → 12 → 9 new funds/Q

New funds entering each quarter: 9 → 23 → 12 → 9. NOA is well-known in the hedge fund world, but fresh entries are gradually declining. The explosive phase of institutional discovery is likely behind us.

🏛️

Veteran-anchored — 73% veterans vs 20% newcomers

■ 73% veterans ■ 7% 1-2yr ■ 20% new

Entry-cohort mix of 74 holders: 54 (73%) are 2+ year veterans, 5 entered 1–2 years ago, and 15 (20%) joined within the past year. A veteran-weighted cap table skews toward institutional memory over fresh momentum.

🏆

Elite ownership — 41% AUM from top-100 funds

41% from top-100 AUM funds

21 of 72 holders are among the 100 largest funds by AUM, controlling 41% of total institutional value in NOA. When the biggest players dominate the cap table, it signifies deep institutional support — since mega-funds deploy the most rigorous due diligence and capital.

2.6

out of 10

Low Exit Risk

Exit risk score 2.6/10 — low institutional crowding. Ownership is below peak levels, holder base is relatively sticky, and buying momentum is positive.

Methodology note: these Smart Money cards use consecutive 13F disclosure snapshots, not trade-by-trade execution data. "Buying", "selling", "new holders", and "trimmed" refer to quarter-over-quarter changes in reported holders, aggregate shares, or disclosed position values between filings. They are useful for ownership regime analysis and crowding, but they do not imply exact trade timing on the filing date.

Metric	All 13F Filers (2026 Q2)	Prior (2026 Q1)	Change
Funds Holding	71	77	-7.79%
13F Shares	16M	17M	-4.06%
Total Value	$191M	$203M	-5.56%
New Positions	9	12	-3
Increased Positions	37	33	+4
Closed Positions	14	15	-1
Reduced Positions	17	23	-6
Total Calls	1	0	100%
Total Puts	1	1	-
PUT/CALL Ratio	1.0	0.0	Neutral

Metric

All 13F Filers (2026 Q2)

Prior (2026 Q1)

Change

Funds Holding

-7.79%

13F Shares

16M

17M

-4.06%

Total Value

$191M

$203M

-5.56%

New Positions

-3

Increased Positions

Closed Positions

-1

Reduced Positions

-6

Total Calls

100%

Total Puts

PUT/CALL Ratio

1.0

0.0

Neutral

Institutional Holders (2026 Q2)

71 + investors

Explore institutional interest and hedge fund ownership dynamics. Analyze portfolio weights, new positions, and conviction trends in NOA. Verified SEC 13F-HR filings.

QUARTER:

FILTER:All New Added To Reduced No Change | Overweight >5%

Top 25 NOA holders by conviction (% of portfolio weight) — 2026 Q2 · Source: SEC Form 13F
#	Investor	% of Portfolio	Shares	Mkt Value
1	Cannell Capital LLC	6.99%	783,691	$10.4M
2	Simcoe Capital LLC	3.19%	393,867	$5.2M
3	Orchard Capital Management, LLC	2.94%	226,537	$3.0M
4	Aegis Financial Corp	2.18%	1,038,177	$13.8M
5	Bastion Asset Management Inc.	1.06%	213,316	$3.1M
6	Intrinsic Edge Capital Management LLC	0.26%	190,100	$2.5M
7	Jb Capital Partners LP	0.14%	70,000	$931K
8	Morgan Dempsey Capital Management LLC	0.13%	23,326	$315K
9	CenterBook Partners LP	0.13%	193,653	$2.6M
10	Intact Investment Management INC.	0.09%	244,300	$3.2M
11	Dynamic Technology Lab Private Ltd	0.08%	27,071	$360K
12	Tranquility Partners, LLC	0.07%	15,928	$212K
13	PDT Partners, LLC	0.04%	63,988	$851K
14	CIBC Asset Management Inc	0.04%	1,354,606	$18.2M
15	Renaissance Group LLC	0.04%	65,168	$867K
16	Quadrature Capital Ltd	0.03%	236,300	$3.1M
17	Boothbay Fund Management, LLC	0.02%	101,930	$1.4M
18	Connor, Clark & Lunn Investment Management Ltd.	0.02%	604,396	$8.0M
19	National Bank of Canada /Fi/	0.01%	1,396,384	$18.6M
20	TD Waterhouse Canada Inc.	0.01%	329,224	$4.3M
21	Freestone Capital Holdings, LLC	0.01%	27,500	$366K
22	Bank of Montreal /Can/	0.01%	1,420,790	$18.9M
23	OneDigital Investment Advisors LLC	0.01%	54,534	$725K
24	WINTON GROUP Ltd	0.00%	10,792	$144K
25	Renaissance Technologies LLC	0.00%	247,000	$3.3M

Investor	Ownership History	% of Portfolio	Prev %	Rank	Conviction	Avg Buy Price	13F Score™ 3Y / 7Y	Sell Timing	Shares	Mkt Value	Change	Change %	Source	Quarter	Filed

Frequently Asked Questions — North Amern Constr Group Ltd (NOA)

What does the Smart Money Trend signal show for NOA?

Selling streak — 2 quarters in a row: For 2 consecutive quarters, more hedge funds reduced or closed their NOA positions than added to them. Sustained institutional selling is a meaningful warning sign — these are professionals with deep research teams collectively deciding to exit.

What is the institutional breadth score for NOA?

More buyers than sellers — 60% buying: Last quarter: 46 funds were net buyers (9 opened a brand new position + 37 added to an existing one). Only 31 were sellers (18 trimmed + 13 sold completely). A clear majority buying is a strong confirmation signal.

What is the fund quality score for NOA holders?

Elite ownership — 41% AUM from top-100 funds: 21 of 72 holders are among the 100 largest funds by AUM, controlling 41% of total institutional value in NOA. When the biggest players dominate the cap table, it signifies deep institutional support — since mega-funds deploy the most rigorous due diligence and capital.

How long have hedge funds held NOA?

67% of holders stayed for 2+ years: 49 out of 73 hedge funds have held NOA for over 2 years without selling. Long-term investors are generally harder to shake out during market stress, creating a stable ownership base that limits the risk of sudden capitulation.

Is it too late to buy North Amern Constr Group Ltd (NOA) following the 2026 Q2 hedge fund 13F filings?

As of today, NOA has moved -11.6% since the 2026 Q2 13F filing date (August 14, 2026), compared to +1.3% for the XLE sector ETF — an outperformance of -12.9%. Since the quarter end (June 30, 2026), NOA has gained -8.6% vs +18.1% for XLE. The stock is tracking its sector benchmark closely. The signal remains fresh and the entry point is still near the fund's implied reference.

Where does this institutional ownership data come from?

All holdings data is sourced from SEC Form 13F filings, which institutional investment managers with over $100 million in assets are required to submit quarterly. Data is parsed directly from SEC EDGAR.

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North Amern Constr Group Ltd (NOA)

Smart Money Signals — NOA

Selling streak — 2 quarters in a row

High ownership — 83% of 3.0Y peak

Outflows — 4% fewer funds vs a year ago

More buyers than sellers — 60% buying

Steady new buyers — ~9 new funds per quarter

67% of holders stayed for 2+ years

Peak discovery — momentum slowing

Veteran-anchored — 73% veterans vs 20% newcomers

Elite ownership — 41% AUM from top-100 funds

Institutional Sentiment Summary — NOA

Hedge Fund Ownership: NOA

Market Analysis: NOA

Analyst Price Targets

Analyst Recommendations

Stock Performance

Company Profile: NOA

Is It Too Late to Buy North Amern Constr Group Ltd (NOA) Based on Hedge Fund 13F Filings?

Hedge Fund Positioning: NOA

Statistics: NOA

Valuation Measures Data as of: --

Financial Highlights

Institutional Holders (2026 Q2)

Frequently Asked Questions — North Amern Constr Group Ltd (NOA)

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