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Avis
CAR

235 hedge funds and large institutions have $3.24B invested in Avis in 2017 Q2 according to their latest regulatory filings, with 40 funds opening new positions, 87 increasing their positions, 78 reducing their positions, and 53 closing their positions.

New
Increased
Maintained
Reduced
Closed

20% more funds holding in top 10

Funds holding in top 10: 5 → 6 (+1)

15.78% more ownership

Funds ownership: 125.18% → 140.97% (+16%)

12% more repeat investments, than reductions

Existing positions increased: 87 | Existing positions reduced: 78

2% more capital invested

Capital invested by funds: $3.16B → $3.24B (+$75.1M)

6% less funds holding

Funds holding: 249 → 235 (-14)

25% less first-time investments, than exits

New positions opened: 40 | Existing positions closed: 53

70% less call options, than puts

Call options by funds: $52.7M | Put options by funds: $176M

Holders
235
Holders Change
-14
Holders Change %
-5.62%
% of All Funds
5.86%
Holding in Top 10
6
Holding in Top 10 Change
+1
Holding in Top 10 Change %
+20%
% of All Funds
0.15%
New
40
Increased
87
Reduced
78
Closed
53
Calls
$52.7M
Puts
$176M
Net Calls
-$123M
Net Calls Change
-$52.1M

Top Buyers

1
BG
Baupost Group
Massachusetts
+$103M
2
SPC
Slate Path Capital
New York
+$79.9M
3
IIM
Ivory Investment Management
New York
+$55M
4
PCM
PAR Capital Management
Massachusetts
+$49.4M
5
Fidelity Investments
Fidelity Investments
Massachusetts
+$40.8M

Top Sellers

1
AL
AJO LP
Pennsylvania
-$74M
2
Nomura Holdings
Nomura Holdings
Japan
-$53.4M
3
Morgan Stanley
Morgan Stanley
New York
-$52.1M
4
UBS Group
UBS Group
Switzerland
-$40.8M
5
Vanguard Group
Vanguard Group
Pennsylvania
-$20.9M
Name Holding Trade Value Shares
Change 		Change in
Stake
Bank of Nova Scotia
101
Bank of Nova Scotia
Ontario, Canada
$1.94M +$1.83M +71,000 New
WIM
102
Wittenberg Investment Management
Massachusetts
$1.89M +$12.9K +500 +0.7%
Canada Life
103
Canada Life
Manitoba, Canada
$1.82M -$127K -4,944 -7%
WCP
104
Waterfront Capital Partners
New York
$1.75M +$1.65M +64,000 New
EP
105
Elkfork Partners
Oregon
$1.74M -$1.56M -60,676 -49%
TPSF
106
Texas Permanent School Fund
Texas
$1.68M -$19.5K -758 -1%
Parallax Volatility Advisers
107
Parallax Volatility Advisers
California
$1.52M +$1.44M +55,817 New
Prudential Financial
108
Prudential Financial
New Jersey
$1.52M -$5.71M -221,760 -80%
NSEDCP
109
NJ State Employees Deferred Compensation Plan
New Jersey
$1.5M +$773K +30,000 +120%
PC
110
Pomelo Capital
New York
$1.36M +$1.29M +50,000 New
TAM
111
Tyers Asset Management
Texas
$1.26M -$1.14M -44,128 -49%
State Board of Administration of Florida Retirement System
112
State Board of Administration of Florida Retirement System
Florida
$1.24M -$2.48M -96,276 -68%
MSA
113
Mason Street Advisors
Wisconsin
$1.12M +$13.5K +525 +1%
AAM
114
Aberdeen Asset Management
United Kingdom
$1.02M +$465K +18,059 +94%
OTPPB
115
Ontario Teachers' Pension Plan Board
Ontario, Canada
$1.01M +$952K +36,963 New
LMGAM
116
Liberty Mutual Group Asset Management
Massachusetts
$986K -$79.4K -3,082 -8%
ASRS
117
Arizona State Retirement System
Arizona
$968K -$7.73K -300 -0.8%
SOMRS
118
State of Michigan Retirement System
Michigan
$946K -$5.15K -200 -0.6%
SKK
119
Shepherd Kaplan Krochuk
Massachusetts
$945K +$86.3K +3,350 +11%
MC
120
Menta Capital
California
$941K +$889K +34,500 New
OPERF
121
Oregon Public Employees Retirement Fund
Oregon
$935K +$33.5K +1,301 +4%
VOYA Investment Management
122
VOYA Investment Management
Georgia
$917K +$53.3K +2,067 +7%
AIMCA
123
Alberta Investment Management Corp (AIMCo)
Alberta, Canada
$916K – – –
HA
124
Harbor Advisors
Florida
$907K – – –
CC
125
Coastland Capital
California
$892K -$717K -27,830 -46%
3 4
5
6 7

CAR Hedge Fund Activity: Q2 2017 in Review

235 of the 4,011 institutional investors tracked by Wall St. Rank reported a position in Avis (CAR) for Q2 2017, worth a combined $3.24B — up 2.4% from $3.16B a quarter earlier.

Sellers outnumbered buyers: 53 funds closed out of CAR and 40 opened new positions — a net loss of 13 holders — while 78 trimmed existing stakes and 87 added.

The largest buyer was Baupost Group, opening a new position worth an estimated $103M. The largest seller was AJO LP, exiting entirely with an estimated $74M sold.

  • 235 institutional investors held Avis (CAR) as of Q2 2017, down from 249 in Q1 2017.
  • Funds reported $3.24B of Avis stock for Q2 2017, up 2.4% quarter-over-quarter.
  • 40 funds opened new Avis positions in Q2 2017 and 53 closed out, a net change of -13 holders.
  • The largest Avis buyer in Q2 2017 was Baupost Group, an estimated $103M added.
  • The largest Avis seller in Q2 2017 was AJO LP, an estimated $74M sold.

Based on aggregated 13F filings for Q2 2017.