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Avis
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232 hedge funds and large institutions have $4.54B invested in Avis in 2017 Q4 according to their latest regulatory filings, with 47 funds opening new positions, 54 increasing their positions, 93 reducing their positions, and 34 closing their positions.

New
Increased
Maintained
Reduced
Closed

38% more first-time investments, than exits

New positions opened: 47 | Existing positions closed: 34

6% more funds holding

Funds holding: 219 → 232 (+13)

4% more capital invested

Capital invested by funds: $4.37B → $4.54B (+$171M)

11.77% less ownership

Funds ownership: 138.9% → 127.13% (-12%)

14% less call options, than puts

Call options by funds: $342M | Put options by funds: $399M

27% less funds holding in top 10

Funds holding in top 10: 11 → 8 (-3)

42% less repeat investments, than reductions

Existing positions increased: 54 | Existing positions reduced: 93

Holders
232
Holders Change
+13
Holders Change %
+5.94%
% of All Funds
5.26%
Holding in Top 10
8
Holding in Top 10 Change
-3
Holding in Top 10 Change %
-27.27%
% of All Funds
0.18%
New
47
Increased
54
Reduced
93
Closed
34
Calls
$342M
Puts
$399M
Net Calls
-$57.4M
Net Calls Change
+$113M

Top Buyers

1
JG
Jefferies Group
New York
+$257M
2
SIM
SRS Investment Management
New York
+$139M
3
Two Sigma Investments
Two Sigma Investments
New York
+$44.1M
4
Pzena Investment Management
Pzena Investment Management
New York
+$26.6M
5
Two Sigma Advisers
Two Sigma Advisers
New York
+$17.2M

Top Sellers

1
Morgan Stanley
Morgan Stanley
New York
-$152M
2
Nomura Holdings
Nomura Holdings
Japan
-$130M
3
Bank of Montreal
Bank of Montreal
Ontario, Canada
-$86M
4
Neuberger Berman Group
Neuberger Berman Group
New York
-$81.8M
5
Bank of America
Bank of America
North Carolina
-$62.7M
Name Holding Trade Value Shares
Change 		Change in
Stake
Geode Capital Management
26
Geode Capital Management
Massachusetts
$29.1M -$435K -10,946 -2%
Bank of America
27
Bank of America
North Carolina
$26.5M -$62.7M -1,576,377 -72%
Charles Schwab
28
Charles Schwab
California
$26.5M +$592K +14,884 +3%
Allianz Asset Management
29
Allianz Asset Management
Germany
$26M +$13.3M +335,000 +130%
Hotchkis & Wiley Capital Management
30
Hotchkis & Wiley Capital Management
California
$24.4M -$5.03M -126,500 -19%
Norges Bank
31
Norges Bank
Norway
$24M – – –
Bank of Nova Scotia
32
Bank of Nova Scotia
Ontario, Canada
$23.5M -$796K -20,000 -4%
Primecap Management
33
Primecap Management
California
$21.1M – – –
PPA
34
Parametric Portfolio Associates
Washington
$20.5M -$2.42M -60,754 -11%
Capital World Investors
35
Capital World Investors
California
$20.3M -$8.19M -206,000 -31%
MLIM
36
Mountain Lake Investment Management
Florida
$19.7M -$3.76M -94,500 -17%
Two Sigma Advisers
37
Two Sigma Advisers
New York
$19M +$17.2M +432,693 New
California Public Employees Retirement System
38
California Public Employees Retirement System
California
$18.4M +$924K +23,230 +6%
Deutsche Bank
39
Deutsche Bank
Germany
$17.6M +$10.4M +260,491 +185%
LSV Asset Management
40
LSV Asset Management
Illinois
$17.6M -$9.5M -238,923 -37%
TA
41
Teachers Advisors
New York
$17M +$3.31M +83,191 +27%
TCIM
42
TIAA CREF Investment Management
New York
$15.9M -$713K -17,918 -5%
Prudential Financial
43
Prudential Financial
New Jersey
$15.5M +$12M +301,476 +589%
Principal Financial Group
44
Principal Financial Group
Iowa
$13.3M -$190K -4,789 -2%
First Manhattan
45
First Manhattan
New York
$12.6M -$502K -12,610 -4%
CS
46
Credit Suisse
Switzerland
$12.2M +$1.49M +37,491 +16%
TCA
47
Teewinot Capital Advisers
New York
$11.1M -$919K -23,100 -8%
CWM
48
CIBC World Markets
New York
$9.92M -$12.1M -303,000 -57%
Legal & General Group
49
Legal & General Group
United Kingdom
$9.89M +$295K +7,413 +3%
Ameriprise
50
Ameriprise
Minnesota
$9.82M -$468K -11,770 -5%
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CAR Hedge Fund Activity: Q4 2017 in Review

232 of the 4,409 institutional investors tracked by Wall St. Rank reported a position in Avis (CAR) for Q4 2017, worth a combined $4.54B — up 3.9% from $4.37B a quarter earlier.

Buyers outnumbered sellers: 47 funds opened new CAR positions and 34 closed out — a net gain of 13 holders — while 54 added to existing stakes and 93 trimmed.

The largest buyer was Jefferies Group, opening a new position worth an estimated $257M. The largest seller was Morgan Stanley, cutting an estimated $152M.

  • 232 institutional investors held Avis (CAR) as of Q4 2017, up from 219 in Q3 2017.
  • Funds reported $4.54B of Avis stock for Q4 2017, up 3.9% quarter-over-quarter.
  • 47 funds opened new Avis positions in Q4 2017 and 34 closed out, a net change of +13 holders.
  • The largest Avis buyer in Q4 2017 was Jefferies Group, an estimated $257M added.
  • The largest Avis seller in Q4 2017 was Morgan Stanley, an estimated $152M sold.

Based on aggregated 13F filings for Q4 2017.