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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
EVM
101
Eaton Vance Management
Massachusetts
$4.25M -$707K -13,405 -12%
RhumbLine Advisers
102
RhumbLine Advisers
Massachusetts
$4.17M +$279K +5,292 +6%
RFC
103
Russell Frank Company
Washington
$4.12M +$390K +7,394 +9%
BPGAM
104
BTG Pactual Global Asset Management
Bermuda
$4.07M +$4.34M +82,296 +823%
CCMH
105
Cornerstone Capital Management Holdings
New York
$4.06M -$4.36M -82,691 -47%
DCM
106
Dynamic Capital Management
Jersey
$3.87M +$4.63M +87,708 New
State of Wisconsin Investment Board
107
State of Wisconsin Investment Board
Wisconsin
$3.58M +$63.3K +1,200 +1%
BG
108
BlackRock Group
United Kingdom
$3.58M +$233K +4,415 +6%
Citigroup
109
Citigroup
New York
$3.57M +$2.01M +38,038 +88%
SFP
110
Santa Fe Partners
New Mexico
$3.54M +$3.83M +72,575 +927%
KCM
111
KSA Capital Management
New Jersey
$3.46M +$528K +10,000 +15%
AQR Capital Management
112
AQR Capital Management
Connecticut
$3.41M -$1.92M -36,350 -32%
BT
113
Beacon Trust
New Jersey
$3.39M -$12.1K -230 -0.3%
SCM
114
Stevens Capital Management
Pennsylvania
$3.33M +$1.87M +35,490 +89%
TPM
115
T2 Partners Management
New York
$3.17M – – –
First Manhattan
116
First Manhattan
New York
$3.15M – – –
AllianceBernstein
117
AllianceBernstein
Tennessee
$3.14M +$42.2K +800 +1%
Macquarie Group
118
Macquarie Group
Australia
$3.09M – – –
Two Sigma Advisers
119
Two Sigma Advisers
New York
$3M -$5.31M -100,696 -60%
AIM
120
Assured Investment Management
New York
$2.81M +$3.36M +63,676 New
Natixis Advisors
121
Natixis Advisors
Massachusetts
$2.7M -$176K -3,331 -5%
PP
122
PDT Partners
New York
$2.67M +$3.2M +60,679 New
EAM
123
EverPoint Asset Management
Connecticut
$2.65M +$3.17M +60,000 New
BIM
124
BlackRock Investment Management
Delaware
$2.59M +$1.31M +24,923 +73%
MAM
125
Meeder Asset Management
Ohio
$2.55M -$2.64K -50 -0.1%
3 4
5
6 7

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.