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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
ECP
126
Elk Creek Partners
Colorado
$2.52M +$1.59M +30,047 +110%
LMGAM
127
Liberty Mutual Group Asset Management
Massachusetts
$2.49M – – –
PG
128
PEAK6 Group
Illinois
$2.4M +$2.87M +54,375 New
PAM
129
Princeton Alpha Management
New Jersey
$2.23M +$2.67M +50,585 New
Walleye Trading
130
Walleye Trading
New York
$2.15M +$2.57M +48,768 New
VOYA Investment Management
131
VOYA Investment Management
Georgia
$2.15M -$88.3K -1,673 -3%
CIP
132
Convergence Investment Partners
Florida
$2.14M +$103K +1,952 +4%
EA
133
Emerald Advisers
Pennsylvania
$2.06M – – –
Ohio Public Employees Retirement System (OPERS)
134
Ohio Public Employees Retirement System (OPERS)
Ohio
$1.84M +$193K +3,653 +10%
Tudor Investment Corp
135
Tudor Investment Corp
Connecticut
$1.79M +$2.15M +40,700 New
UBS Group
136
UBS Group
Switzerland
$1.74M +$434K +8,221 +26%
MA
137
Montag & Associates
Georgia
$1.7M +$2.04M +38,650 New
ST
138
Spot Trading
Illinois
$1.67M +$1.21M +23,012 +156%
VIA
139
Vident Investment Advisory
Georgia
$1.62M +$736K +13,960 +61%
Group One Trading
140
Group One Trading
Illinois
$1.62M +$818K +15,500 +73%
ZIM
141
Zacks Investment Management
Illinois
$1.42M +$90.2K +1,710 +6%
SKK
142
Shepherd Kaplan Krochuk
Massachusetts
$1.4M – – –
Principal Financial Group
143
Principal Financial Group
Iowa
$1.39M +$347K +6,569 +26%
GC
144
Guggenheim Capital
Illinois
$1.35M -$277K -5,256 -15%
MCC
145
Malaga Cove Capital
California
$1.34M -$1.11K -21 -0.1%
SRF
146
Silver Rock Financial
California
$1.32M +$1.58M +30,000 New
Wells Fargo
147
Wells Fargo
California
$1.31M -$2.32M -43,952 -60%
CWA
148
Constellation Wealth Advisors
New York
$1.29M +$246K +4,665 +19%
VAM
149
Visium Asset Management
New York
$1.25M +$1.5M +28,475 New
VKH
150
Virtu KCG Holdings
New York
$1.25M +$1.16M +21,918 +342%
4 5
6
7 8

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.