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Credit Acceptance
CACC

215 hedge funds and large institutions have $5.28B invested in Credit Acceptance in 2018 Q3 according to their latest regulatory filings, with 35 funds opening new positions, 70 increasing their positions, 79 reducing their positions, and 13 closing their positions.

New
Increased
Maintained
Reduced
Closed

169% more first-time investments, than exits

New positions opened: 35 | Existing positions closed: 13

15% more capital invested

Capital invested by funds: $4.61B → $5.28B (+$673M)

11% more funds holding

Funds holding: 194 → 215 (+21)

5.46% less ownership

Funds ownership: 67.98% → 62.52% (-5.5%)

6% less funds holding in top 10

Funds holding in top 10: 18 → 17 (-1)

11% less repeat investments, than reductions

Existing positions increased: 70 | Existing positions reduced: 79

18% less call options, than puts

Call options by funds: $70.8M | Put options by funds: $86.9M

Holders
215
Holders Change
+21
Holders Change %
+10.82%
% of All Funds
4.92%
Holding in Top 10
17
Holding in Top 10 Change
-1
Holding in Top 10 Change %
-5.56%
% of All Funds
0.39%
New
35
Increased
70
Reduced
79
Closed
13
Calls
$70.8M
Puts
$86.9M
Net Calls
-$16M
Net Calls Change
-$30.3M

Top Buyers

1
Axa
Axa
France
+$44.9M
2
Manulife (Manufacturers Life Insurance)
Manulife (Manufacturers Life Insurance)
Ontario, Canada
+$17M
3
AQR Capital Management
AQR Capital Management
Connecticut
+$11M
4
Arrowstreet Capital
Arrowstreet Capital
Massachusetts
+$7.74M
5
RA
Rational Advisors
New York
+$6.9M

Top Sellers

1
HP
Hound Partners
New York
-$221M
2
ABI
Abrams Bison Investments
Maryland
-$54.5M
3
VVP
Vulcan Value Partners
Alabama
-$32.9M
4
Vanguard Group
Vanguard Group
Pennsylvania
-$30.9M
5
PNC Financial Services Group
PNC Financial Services Group
Pennsylvania
-$22.8M
Name Holding Trade Value Shares
Change 		Change in
Stake
PGP
1
Prescott General Partners
Florida
$959M -$14.5M -34,590 -2%
Vanguard Group
2
Vanguard Group
Pennsylvania
$510M -$30.9M -73,685 -6%
RCG
3
Ruane, Cunniff & Goldfarb
New York
$476M -$5.73M -13,658 -1%
ABI
4
Abrams Bison Investments
Maryland
$350M -$54.5M -130,000 -14%
Wellington Management Group
5
Wellington Management Group
Massachusetts
$278M -$19.1M -45,560 -7%
BlackRock
6
BlackRock
New York
$217M -$6.19M -14,750 -3%
B
7
BloombergSen
Ontario, Canada
$188M +$1.06M +2,536 +0.6%
CCM
8
Cantillon Capital Management
New York
$133M -$8.7M -20,735 -6%
HP
9
Hound Partners
New York
$125M -$221M -526,112 -65%
BMO
10
Beck Mack & Oliver
New York
$125M -$698K -1,665 -0.6%
TCIM
11
TIAA CREF Investment Management
New York
$115M -$4.85M -11,551 -4%
GC
12
Gobi Capital
California
$99.8M +$5.86M +13,961 +7%
WA
13
Wasatch Advisors
Utah
$99.2M -$7.65M -18,224 -7%
Dimensional Fund Advisors
14
Dimensional Fund Advisors
Texas
$89M +$1.73M +4,116 +2%
JP Morgan Chase
15
JP Morgan Chase
New York
$67.8M +$382K +911 +0.6%
GIG
16
Goodnow Investment Group
Connecticut
$65.8M -$8.75M -20,854 -12%
State Street
17
State Street
Massachusetts
$63.8M +$124K +296 +0.2%
PNC Financial Services Group
18
PNC Financial Services Group
Pennsylvania
$58.8M -$22.8M -54,444 -29%
Geode Capital Management
19
Geode Capital Management
Massachusetts
$56.6M +$760K +1,812 +1%
Axa
20
Axa
France
$56.6M +$44.9M +106,962 +482%
HSBC Holdings
21
HSBC Holdings
United Kingdom
$50.5M +$1.99M +4,743 +4%
Invesco
22
Invesco
Georgia
$50.3M -$2.21M -5,261 -4%
IFLIT
23
Investmentaktiengesellschaft Fuer Langfristige Investoren TGV
Germany
$48.2M – – –
AQR Capital Management
24
AQR Capital Management
Connecticut
$48.1M +$11M +26,181 +31%
CIP
25
CAS Investment Partners
Connecticut
$47.3M – – –
1
2 3 4 5

CACC Hedge Fund Activity: Q3 2018 in Review

215 of the 4,374 institutional investors tracked by Wall St. Rank reported a position in Credit Acceptance (CACC) for Q3 2018, worth a combined $5.28B — up 15% from $4.61B a quarter earlier.

Buyers outnumbered sellers: 35 funds opened new CACC positions and 13 closed out — a net gain of 22 holders — while 70 added to existing stakes and 79 trimmed.

The largest buyer was Axa, adding an estimated $44.9M. The largest seller was Hound Partners, cutting an estimated $221M.

  • 215 institutional investors held Credit Acceptance (CACC) as of Q3 2018, up from 194 in Q2 2018.
  • Funds reported $5.28B of Credit Acceptance stock for Q3 2018, up 15% quarter-over-quarter.
  • 35 funds opened new Credit Acceptance positions in Q3 2018 and 13 closed out, a net change of +22 holders.
  • The largest Credit Acceptance buyer in Q3 2018 was Axa, an estimated $44.9M added.
  • The largest Credit Acceptance seller in Q3 2018 was Hound Partners, an estimated $221M sold.

Based on aggregated 13F filings for Q3 2018.