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Avis
CAR

263 hedge funds and large institutions have $4.93B invested in Avis in 2015 Q2 according to their latest regulatory filings, with 53 funds opening new positions, 86 increasing their positions, 82 reducing their positions, and 43 closing their positions.

New
Increased
Maintained
Reduced
Closed

215% more call options, than puts

Call options by funds: $271M | Put options by funds: $85.9M

23% more first-time investments, than exits

New positions opened: 53 | Existing positions closed: 43

3% more funds holding

Funds holding: 256 → 263 (+7)

5% more repeat investments, than reductions

Existing positions increased: 86 | Existing positions reduced: 82

0.06% more ownership

Funds ownership: 81.89% → 81.95% (+0.06%)

25% less capital invested

Capital invested by funds: $6.6B → $4.93B (-$1.67B)

38% less funds holding in top 10

Funds holding in top 10: 16 → 10 (-6)

Holders
263
Holders Change
+7
Holders Change %
+2.73%
% of All Funds
7.09%
Holding in Top 10
10
Holding in Top 10 Change
-6
Holding in Top 10 Change %
-37.5%
% of All Funds
0.27%
New
53
Increased
86
Reduced
82
Closed
43
Calls
$271M
Puts
$85.9M
Net Calls
+$185M
Net Calls Change
-$45.2M

Top Buyers

1
FTCM
Fir Tree Capital Management
New York
+$137M
2
Point72 Asset Management
Point72 Asset Management
Connecticut
+$111M
3
TCM
TimesSquare Capital Management
New York
+$86.5M
4
CGI
CI Global Investments
California
+$86M
5
Viking Global Investors
Viking Global Investors
Connecticut
+$78.8M

Top Sellers

1
Tiger Global Management
Tiger Global Management
New York
-$286M
2
Morgan Stanley
Morgan Stanley
New York
-$125M
3
YCMGA
York Capital Management Global Advisors
New York
-$119M
4
Goldman Sachs
Goldman Sachs
New York
-$64.3M
5
MGM
Miura Global Management
New York
-$59M
Name Holding Trade Value Shares
Change 		Change in
Stake
Norges Bank
26
Norges Bank
Norway
$37.4M – – –
SAM
27
Scopus Asset Management
New York
$35M -$10.9M -206,450 -21%
ACM
28
Apex Capital Management
Ohio
$33.2M +$1.55M +29,437 +4%
3CP
29
3G Capital Partners
New York
$32M +$38.3M +725,989 New
Deutsche Bank
30
Deutsche Bank
Germany
$29.4M -$27.8M -527,322 -44%
D.E. Shaw & Co
31
D.E. Shaw & Co
New York
$27.5M -$6.99M -132,438 -17%
AIM
32
abrdn Investment Management
United Kingdom
$27.1M -$22.4M -424,365 -41%
Geode Capital Management
33
Geode Capital Management
Massachusetts
$26.9M +$1.07M +20,293 +3%
New York State Common Retirement Fund
34
New York State Common Retirement Fund
New York
$26.2M +$14.3M +271,432 +84%
TCIM
35
TIAA CREF Investment Management
New York
$25.7M -$32.3M -612,155 -51%
OCAM
36
Owl Creek Asset Management
New York
$24M +$20.3M +385,691 +243%
Loomis, Sayles & Company
37
Loomis, Sayles & Company
Massachusetts
$23.5M +$11.2K +212 +0%
Bank of America
38
Bank of America
North Carolina
$23.1M +$8.28M +156,938 +43%
Renaissance Technologies
39
Renaissance Technologies
New York
$22.9M +$17.7M +335,750 +183%
Northern Trust
40
Northern Trust
Illinois
$22.3M +$1.9M +36,031 +8%
TCA
41
Taconic Capital Advisors
New York
$22M +$26.4M +500,000 New
Bank of New York Mellon
42
Bank of New York Mellon
New York
$21.4M -$6.92M -131,266 -21%
6CM
43
683 Capital Management
New York
$19M +$16.3M +309,000 +253%
Citadel Advisors
44
Citadel Advisors
Florida
$18.8M +$17.8M +338,132 +384%
Canada Pension Plan Investment Board
45
Canada Pension Plan Investment Board
Ontario, Canada
$17.7M +$3.9M +74,000 +23%
PCM
46
PAR Capital Management
Massachusetts
$17M +$20.4M +385,869 New
BIM
47
BRC Investment Management
Colorado
$16.9M +$20.3M +384,481 New
Bank of Montreal
48
Bank of Montreal
Ontario, Canada
$15.8M +$17.4M +330,016 +1,138%
Neuberger Berman Group
49
Neuberger Berman Group
New York
$15.6M -$14.2M -268,256 -43%
BCM
50
BBT Capital Management
Texas
$15.3M +$18.4M +348,000 New
1
2
3 4 5

CAR Hedge Fund Activity: Q2 2015 in Review

263 of the 3,711 institutional investors tracked by Wall St. Rank reported a position in Avis (CAR) for Q2 2015, worth a combined $4.93B — down 25% from $6.6B a quarter earlier.

Buyers outnumbered sellers: 53 funds opened new CAR positions and 43 closed out — a net gain of 10 holders — while 86 added to existing stakes and 82 trimmed.

The largest buyer was Fir Tree Capital Management, adding an estimated $137M. The largest seller was Tiger Global Management, exiting entirely with an estimated $286M sold.

  • 263 institutional investors held Avis (CAR) as of Q2 2015, up from 256 in Q1 2015.
  • Funds reported $4.93B of Avis stock for Q2 2015, down 25% quarter-over-quarter.
  • 53 funds opened new Avis positions in Q2 2015 and 43 closed out, a net change of +10 holders.
  • The largest Avis buyer in Q2 2015 was Fir Tree Capital Management, an estimated $137M added.
  • The largest Avis seller in Q2 2015 was Tiger Global Management, an estimated $286M sold.

Based on aggregated 13F filings for Q2 2015.