Avis
260 hedge funds and large institutions have $6.5B invested in Avis in 2014 Q2 according to their latest regulatory filings, with 55 funds opening new positions, 59 increasing their positions, 110 reducing their positions, and 35 closing their positions.
110% more call options, than puts
Call options by funds: $227M | Put options by funds: $108M
57% more first-time investments, than exits
New positions opened: 55 | Existing positions closed: 35
9% more capital invested
Capital invested by funds: $5.97B → $6.5B (+$533M)
8% more funds holding
Funds holding: 240 → 260 (+20)
5.05% less ownership
Funds ownership: 89.7% → 84.65% (-5%)
20% less funds holding in top 10
Funds holding in top 10: 20 → 16 (-4)
46% less repeat investments, than reductions
Existing positions increased: 59 | Existing positions reduced: 110
Top Buyers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
MCM
Marcato Capital Management
San Francisco,
California
|
+$112M |
| 2 |
GCM
Glenview Capital Management
New York
|
+$99.1M |
| 3 |
AL
AJO LP
Philadelphia,
Pennsylvania
|
+$98.7M |
| 4 |
Citigroup
New York
|
+$60.5M |
| 5 |
MGM
Miura Global Management
New York
|
+$49.3M |
Top Sellers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
PCM
PAR Capital Management
Boston,
Massachusetts
|
-$122M |
| 2 |
Wellington Management Group
Boston,
Massachusetts
|
-$109M |
| 3 |
Lord, Abbett & Co
Jersey City,
New Jersey
|
-$50.9M |
| 4 |
AWG
Alpha Wave Global
New York
|
-$49.9M |
| 5 |
Morgan Stanley
New York
|
-$48.1M |
CAR Hedge Fund Activity: Q2 2014 in Review
260 of the 3,479 institutional investors tracked by Wall St. Rank reported a position in Avis (CAR) for Q2 2014, worth a combined $6.5B — up 8.9% from $5.97B a quarter earlier.
Buyers outnumbered sellers: 55 funds opened new CAR positions and 35 closed out — a net gain of 20 holders — while 59 added to existing stakes and 110 trimmed.
The largest buyer was Marcato Capital Management, opening a new position worth an estimated $112M. The largest seller was PAR Capital Management, exiting entirely with an estimated $122M sold.
- 260 institutional investors held Avis (CAR) as of Q2 2014, up from 240 in Q1 2014.
- Funds reported $6.5B of Avis stock for Q2 2014, up 8.9% quarter-over-quarter.
- 55 funds opened new Avis positions in Q2 2014 and 35 closed out, a net change of +20 holders.
- The largest Avis buyer in Q2 2014 was Marcato Capital Management, an estimated $112M added.
- The largest Avis seller in Q2 2014 was PAR Capital Management, an estimated $122M sold.
Based on aggregated 13F filings for Q2 2014.