Credit Acceptance
CACC
154 hedge funds and large institutions have $1.8B invested in Credit Acceptance in 2016 Q2 according to their latest regulatory filings, with 26 funds opening new positions, 46 increasing their positions, 64 reducing their positions, and 35 closing their positions.
60% more funds holding in top 10
Funds holding in top 10: 10 → 16 (+6)
1% more capital invested
Capital invested by funds: $1.77B → $1.8B (+$22.1M)
6% less funds holding
Funds holding: 164 → 154 (-10)
19% less call options, than puts
Call options by funds: $7.09M | Put options by funds: $8.78M
26% less first-time investments, than exits
New positions opened: 26 | Existing positions closed: 35
28% less repeat investments, than reductions
Existing positions increased: 46 | Existing positions reduced: 64
Top Buyers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
MP
Makaira Partners
La Jolla,
California
|
+$37.6M |
| 2 |
AA
Ancient Art
Austin,
Texas
|
+$25.6M |
| 3 |
BG
Baupost Group
Boston,
Massachusetts
|
+$18.3M |
| 4 |
LP
LMR Partners
London,
United Kingdom
|
+$11.6M |
| 5 |
Vanguard Group
Malvern,
Pennsylvania
|
+$8.75M |
Top Sellers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
Invesco
Atlanta,
Georgia
|
-$21.9M |
| 2 |
SJV
Scott J. Vassalluzzo
|
-$16.3M |
| 3 |
TWS
Thomas W. Smith
|
-$16.3M |
| 4 |
AQR Capital Management
Greenwich,
Connecticut
|
-$11.4M |
| 5 |
Goldman Sachs
New York
|
-$8.4M |
| Name | Holding | Trade Value |
Shares Change |
Change in Stake |
|
|---|---|---|---|---|---|
176
Squarepoint
New York
| – | -$399K | -2,200 | Closed |
|
|
VKH
177
Virtu KCG Holdings
New York
| – | -$381K | -2,097 | Closed |
|
|
BC
178
Burney Company
Reston,
Virginia
| – | -$363K | -2,000 | Closed |
|
|
PAM
179
Princeton Alpha Management
Princeton Junction,
New Jersey
| – | -$329K | -1,810 | Closed |
|
180
Ameriprise
Minneapolis,
Minnesota
| – | -$247K | -1,360 | Closed |
|
|
HI
181
HBK Investments
Dallas,
Texas
| – | -$213K | -1,174 | Closed |
|
182
Rafferty Asset Management
New York
| – | -$202K | -1,113 | Closed |
|
|
TRCT
183
Tower Research Capital (TRC)
New York
| – | -$180K | -994 | Closed |
|
|
IMAS
184
ID Management A/S
Randers,
Denmark
| – | -$127K | -700 | Closed |
|
185
New York State Teachers Retirement System (NYSTRS)
Albany,
New York
| – | -$54K | -300 | Closed |
|
|
GS
186
GAM Systematic
Cambridge,
United Kingdom
| – | -$23K | -126 | Closed |
|
|
PHK
187
Point72 Hong Kong
Hong Kong
| – | -$18K | -100 | Closed |
|
188
Northwestern Mutual Wealth Management
Milwaukee,
Wisconsin
| – | -$4K | -21 | Closed |
|
CACC Hedge Fund Activity: Q2 2016 in Review
154 of the 3,748 institutional investors tracked by Wall St. Rank reported a position in Credit Acceptance (CACC) for Q2 2016, worth a combined $1.8B — up 1.2% from $1.77B a quarter earlier.
Sellers outnumbered buyers: 35 funds closed out of CACC and 26 opened new positions — a net loss of 9 holders — while 64 trimmed existing stakes and 46 added.
The largest buyer was Makaira Partners, opening a new position worth an estimated $37.6M. The largest seller was Invesco, cutting an estimated $21.9M.
- 154 institutional investors held Credit Acceptance (CACC) as of Q2 2016, down from 164 in Q1 2016.
- Funds reported $1.8B of Credit Acceptance stock for Q2 2016, up 1.2% quarter-over-quarter.
- 26 funds opened new Credit Acceptance positions in Q2 2016 and 35 closed out, a net change of -9 holders.
- The largest Credit Acceptance buyer in Q2 2016 was Makaira Partners, an estimated $37.6M added.
- The largest Credit Acceptance seller in Q2 2016 was Invesco, an estimated $21.9M sold.
Based on aggregated 13F filings for Q2 2016.