Ranked by reported Q1 2026 13F market value
Share of total reported institutional value in NOA held by the largest 10 / 25 filers.
| # | Institution | Shares Held | Market Value | QoQ Change | Ownership % | % of Fund |
|---|---|---|---|---|---|---|
| 1 | BANK OF MONTREAL /CAN/ | 2.9M | $39.0M | +3.7% | 10.140% | 0.01% |
| 2 | CIBC Asset Management Inc | 1.5M | $19.8M | +1.4% | 5.126% | 0.05% |
| 3 | NATIONAL BANK OF CANADA /FI/ | 1.4M | $18.0M | +0.9% | 4.741% | 0.02% |
| 4 | AEGIS FINANCIAL CORP | 1.0M | $14.0M | 0.0% | 3.640% | 2.41% |
| 5 | CANNELL CAPITAL LLC | 963K | $13.0M | -10.5% | 3.376% | 8.18% |
| 6 | AMERICAN CENTURY COMPANIES INC | 592K | $8.0M | +11.4% | 2.076% | 0.00% |
| 7 | Connor, Clark & Lunn Investment Management Ltd. | 587K | $7.9M | +62.6% | 2.060% | 0.02% |
| 8 | Bastion Asset Management Inc. | 401K | $6.4M | -32.0% | 1.406% | 1.96% |
| 9 | Alberta Investment Management Corp | 422K | $5.7M | β | 1.482% | 0.04% |
| 10 | ARROWSTREET CAPITAL, LIMITED PARTNERSHIP | 402K | $5.4M | +65.1% | 1.411% | 0.00% |
| 11 | TD Waterhouse Canada Inc. | 325K | $4.3M | +8.7% | 1.141% | 0.01% |
| 12 | TWO SIGMA INVESTMENTS, LP | 313K | $4.2M | +25.9% | 1.097% | 0.00% |
| 13 | Polar Asset Management Partners Inc. | 310K | $4.2M | -41.2% | 1.087% | 0.09% |
| 14 | D. E. Shaw & Co., Inc. | 272K | $3.7M | +1.7% | 0.952% | 0.00% |
| 15 | RENAISSANCE TECHNOLOGIES LLC | 254K | $3.4M | -2.9% | 0.889% | 0.01% |
| 16 | GOLDMAN SACHS GROUP INC | 252K | $3.4M | +46.0% | 0.885% | 0.00% |
| 17 | Clearbridge Investments, LLC | 246K | $3.3M | +13.3% | 0.863% | 0.00% |
| 18 | Orchard Capital Managment, LLC | 224K | $3.0M | +44.4% | 0.785% | 3.95% |
| 19 | INTACT INVESTMENT MANAGEMENT INC. | 208K | $2.8M | +77.8% | 0.729% | 0.08% |
| 20 | DIMENSIONAL FUND ADVISORS LP | 200K | $2.7M | +35.6% | 0.702% | 0.00% |
| 21 | MARSHALL WACE, LLP | 199K | $2.7M | +135.7% | 0.697% | 0.00% |
| 22 | MORGAN STANLEY | 192K | $2.6M | +44.9% | 0.673% | 0.00% |
| 23 | Intrinsic Edge Capital Management LLC | 170K | $2.3M | +240.2% | 0.597% | 0.38% |
| 24 | Simcoe Capital LLC | 162K | $2.2M | β | 0.566% | 2.00% |
| 25 | Quadrature Capital Ltd | 135K | $1.8M | +14.2% | 0.474% | 0.02% |
denotes a marquee investor (Buffett, Burry, ARK, Tiger Global, Pershing Square, Baupost and other widely-followed managers). β% of Fundβ shows how much of that investorβs total 13F portfolio is invested in NOA β a direct measure of their conviction.
Filings activity in NOA during Q1 2026, grouped by how each filer changed its position.
Institutions that opened a new NOA position in Q1 2026
Institutions that fully closed their NOA position in Q1 2026
8 quarters of 13F filings Β· Ξ columns show change vs prior quarter
| Quarter | Inst. Holders | Ξ Holders | Ownership % | Ξ Ownership | Total 13F Value | Ξ Value |
|---|---|---|---|---|---|---|
| Q1 2026 | 76 | 3.8% | 52.12% | 2.72 pp | $201M | 5.0% |
| Q4 2025 | 79 | +11% | 54.84% | +6.90 pp | $211M | +14% |
| Q3 2025 | 71 | 10% | 47.94% | 152.05 pp | $185M | 83% |
| Q2 2025 | 79 | 6.0% | 199.99% | +134.10 pp | $1.06B | +317% |
| Q1 2025 | 84 | 3.4% | 65.89% | 16.95 pp | $254M | 20% |
| Q4 2024 | 87 | +6.1% | 82.84% | +11.33 pp | $319M | +16% |
| Q3 2024 | 82 | 5.7% | 71.51% | 5.19 pp | $276M | 6.8% |
| Q2 2024 | 87 | β | 76.70% | β | $296M | β |
Source: SEC 13F institutional filings. Ownership % requires market cap data and will show once linked. Ξ columns compare to the immediately prior filed quarter.
Quick answers to the most common questions about buying NOA stock.
Based on Q1 2026 13F filings, institutional ownership of North American Construction Group Ltd. stands at 52.1%, held across 76 reporting institutions.
BANK OF MONTREAL /CAN/ is the largest reported institutional holder of NOA, with approximately 2,891,696 shares worth $0.04B as of Q1 2026.
Yes β 2 widely-followed marquee investors appear among the top 25 institutional holders of NOA, including TWO SIGMA INVESTMENTS, LP, RENAISSANCE TECHNOLOGIES LLC.
Our composite Smart Money Score for NOA is 39 out of 100 (Bearish). It combines net institutional buying activity, ownership shift, marquee investor presence, and holder-count growth.
13 institutions opened new positions in NOA during Q1 2026, while 16 fully exited. 25 added to existing positions and 38 trimmed.
NOA institutional ownership fell by 2.72 percentage points quarter-over-quarter, with a net change of -3 holders.
The top 10 institutions account for 68.4% of all reported 13F value in NOA, and the top 25 account for 91.5%.
All data is sourced from SEC Form 13F filings, which institutional investment managers with at least $100M in assets are required to file each quarter. We process every 13F filing from EDGAR and recompute the aggregates after each cycle. Insider transactions are sourced from Form 4 filings.
North American Construction Group Ltd. (NOA) Institutional Ownership