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Perennial Investors, LLC
> NOA
| Date | Name | Ticker | Shares | Change | Value | Change | Price |
| 09/30/2011 | North American Construction Group Ltd. | NOA | 469,334 | 295,475 | 2,361,000 | 1,029,000 | $5.03 |
| 06/30/2011 | North American Construction Group Ltd. | NOA | 173,859 | 41,300 | 1,332,000 | -302,000 | $7.66 |
| 03/31/2011 | North American Construction Group Ltd. | NOA | 132,559 | -552,340 | 1,634,000 | -6,763,000 | $12.33 |
| 12/31/2010 | North American Construction Group Ltd. | NOA | 684,899 | -252,565 | 8,397,000 | 757,000 | $12.26 |
| 09/30/2010 | North American Construction Group Ltd. | NOA | 937,464 | 186,195 | 7,640,000 | 1,006,000 | $8.15 |
| 06/30/2010 | North American Construction Group Ltd. | NOA | 751,269 | 107,400 | 6,634,000 | 459,000 | $8.83 |
| 03/31/2010 | North American Construction Group Ltd. | NOA | 643,869 | 50,303 | 6,175,000 | 1,866,000 | $9.59 |
| 12/31/2009 | North American Construction Group Ltd. | NOA | 593,566 | 600 | 4,309,000 | 751,000 | $7.26 |
| 09/30/2009 | North American Construction Group Ltd. | NOA | 592,966 | 213,766 | 3,558,000 | 1,249,000 | $6.00 |
| 06/30/2009 | North American Construction Group Ltd. | NOA | 379,200 | 379,200 | 2,309,000 | 2,309,000 | $6.09 |
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