NOA.TO Archives

Letters With This Ticker

Quarter	Letter Date	Fund Name	QTD	YTD	Tickers	Keywords/Themes	Theme Commentary	Pitches	Letter
2023 Q3	Dec 20, 2023	Bonhoeffer Capital Management	11.3%	0.0%	ABG, BLDR, CNSL, NOA.TO	Construction, Distribution, international, Mining Services, small caps, Telecom, value	Holdings include car dealerships, branded capital equipment dealerships, building product distributors, automobile transportation logistics, and capital equipment leasing firms. Key performance indicator is velocity or inventory turns, with the fund owning some of the highest-velocity dealerships globally. Recovery seen in markets previously hit by COVID like South Africa and Latin America.	NOA.TO	View
2024 Q3	Dec 15, 2024	Bonhoeffer Capital Management	11.3%	0.0%	ABG, AHT.L, ARW, BLDR, FFBB, LOTTE.KS, NBN, NOA.TO, TIGO, TVK.TO, UBAB, VST.L	Asia, banks, Buybacks, Consolidation, Construction, Distribution, growth, value	Holdings in car dealerships, branded capital equipment dealerships, building product distributors and electrical component distributors comprise 51.6% of portfolio. Focus on highest-velocity distributors with strong inventory turns in markets worldwide. Arrow Electronics exemplifies the model with modest earnings growth and aggressive buybacks.		View
2023 Q4	Feb 13, 2024	Bonhoeffer Capital Management	11.3%	0.0%	ABG, BLDR, CNSL, NOA.TO	Buybacks, Construction, Distribution, international, Mining Services, small caps, value	Holdings include car dealerships, branded capital equipment dealerships, building product distributors, automobile transportation logistics, and capital equipment leasing firms. Key performance indicator is velocity or inventory turns, with the fund owning some of the highest-velocity dealerships globally. Recovery seen in markets previously hit by COVID like South Africa and Latin America.	NOA.TO	View

Pitches With This Ticker

Date	Pitch Type	Author	Company	Industry	Sub Industry	Bull / Bear	Stock Exchange	Keywords	Action
Apr 28, 2026	Fund Letters	Bonhoeffer Capital Management	North American Construction Group	Industrials	Construction & Engineering	Bull	Toronto Stock Exchange	Acquisitions, Australia, Bulk Earthmoving, Canada, construction, Earthmoving, Equipment Fleet, Heavy Civil, Indigenous Partnerships, Mining Services, Oil sands, Specialized Contractor, turnaround, Value	View Pitch
Apr 28, 2026	Fund Letters	Bonhoeffer Capital Management	North American Construction Group	Industrials	Construction & Engineering	Bull	Toronto Stock Exchange	acquisition strategy, Australia, Canada, Commodities, construction, Earthmoving, Heavy Equipment, Indigenous Partnerships, infrastructure, Mining Services, Oil sands, Value	View Pitch

BSD Shareholders of NOA-TO

This report provides a detailed summary of investor holdings for a specified stock ticker, highlighting key metrics such as fund name, total assets under management (AUM), invested value, portfolio weight, and shares owned. It also tracks changes in share ownership during the last quarter, including the percentage of shares bought or sold and the percentage of outstanding shares owned. The data is generated using an API that processes investor holdings and calculates these values for each fund. This report helps investors and analysts monitor the stock positions of major funds, identify investment trends, and assess the influence of large investors on individual stocks.

Filing Date: September 30, 2025

NOA-TO

NOA-TO

Letters With This Ticker

Pitches With This Ticker

BSD Shareholders of NOA-TO

Join for free and get access to the buyside

Get insights from the world's most influential hedge fund investors direct to your inbox

Follow Us On: