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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
MAA
76
Managed Account Advisors
New Jersey
$6.78M -$333K -6,317 -4%
State Board of Administration of Florida Retirement System
77
State Board of Administration of Florida Retirement System
Florida
$6.55M -$809K -15,341 -9%
Arrowstreet Capital
78
Arrowstreet Capital
Massachusetts
$6.5M -$2.11M -39,911 -21%
HC
79
Hosking & Co
Ireland
$6.49M +$543K +10,293 +8%
GIA
80
Gateway Investment Advisers
Ohio
$6.39M – – –
Primecap Management
81
Primecap Management
California
$6.39M +$7.65M +145,000 New
Los Angeles Capital Management
82
Los Angeles Capital Management
California
$6.31M +$5.41M +102,530 +253%
Millennium Management
83
Millennium Management
New York
$6.28M -$3.56M -67,417 -32%
CSS
84
Cubist Systematic Strategies
Connecticut
$6.04M +$2.74M +51,889 +61%
DCM
85
Dupont Capital Management
Delaware
$5.78M +$4.32M +81,900 +166%
Swiss National Bank
86
Swiss National Bank
Switzerland
$5.43M +$111K +2,100 +2%
JP Morgan Chase
87
JP Morgan Chase
New York
$5.39M +$1.44M +27,359 +29%
IIA
88
IPG Investment Advisors
California
$5.38M +$105K +1,995 +2%
PFC
89
Phocas Financial Corp
California
$5.34M -$219K -4,148 -3%
HHC
90
Hutchin Hill Capital
New York
$5.33M +$5.09M +96,500 +397%
BCM
91
Bridgeway Capital Management
Texas
$5.23M – – –
Federated Hermes
92
Federated Hermes
Pennsylvania
$4.78M -$59.4K -1,126 -1%
Invesco
93
Invesco
Georgia
$4.61M -$2.16M -40,911 -28%
MLIM
94
Mountain Lake Investment Management
Florida
$4.49M +$5.37M +101,800 New
GCP
95
GSA Capital Partners
United Kingdom
$4.42M +$2.67M +50,658 +102%
CC
96
Coastland Capital
California
$4.41M -$15.8M -300,000 -75%
Legal & General Group
97
Legal & General Group
United Kingdom
$4.4M -$384K -7,272 -7%
BNP Paribas Asset Management
98
BNP Paribas Asset Management
France
$4.39M +$4.35M +82,369 +478%
SEI Investments
99
SEI Investments
Pennsylvania
$4.38M +$2.92M +55,384 +126%
MHC
100
Meyer Handelman Company
New York
$4.35M – – –
2 3
4
5 6

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.