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Avis
CAR

240 hedge funds and large institutions have $5.97B invested in Avis in 2014 Q1 according to their latest regulatory filings, with 41 funds opening new positions, 59 increasing their positions, 107 reducing their positions, and 32 closing their positions.

New
Increased
Maintained
Reduced
Closed

168% more call options, than puts

Call options by funds: $184M | Put options by funds: $68.9M

28% more first-time investments, than exits

New positions opened: 41 | Existing positions closed: 32

26% more capital invested

Capital invested by funds: $4.73B → $5.97B (+$1.24B)

25% more funds holding in top 10

Funds holding in top 10: 16 → 20 (+4)

4.15% more ownership

Funds ownership: 85.55% → 89.7% (+4.1%)

3% more funds holding

Funds holding: 234 → 240 (+6)

45% less repeat investments, than reductions

Existing positions increased: 59 | Existing positions reduced: 107

Holders
240
Holders Change
+6
Holders Change %
+2.56%
% of All Funds
6.93%
Holding in Top 10
20
Holding in Top 10 Change
+4
Holding in Top 10 Change %
+25%
% of All Funds
0.58%
New
41
Increased
59
Reduced
107
Closed
32
Calls
$184M
Puts
$68.9M
Net Calls
+$115M
Net Calls Change
+$82.3M

Top Buyers

1
Morgan Stanley
Morgan Stanley
New York
+$205M
2
Tiger Global Management
Tiger Global Management
New York
+$168M
3
GCM
Glenview Capital Management
New York
+$92.6M
4
Lord, Abbett & Co
Lord, Abbett & Co
New Jersey
+$44.9M
5
SCM
SAB Capital Management
New York
+$43.3M

Top Sellers

1
PCM
PAR Capital Management
Massachusetts
-$122M
2
Hotchkis & Wiley Capital Management
Hotchkis & Wiley Capital Management
California
-$82.2M
3
IAM
Iridian Asset Management
Connecticut
-$41.2M
4
PCM
Pennant Capital Management
New Jersey
-$37.8M
5
PC
PointState Capital
New York
-$28.7M
Name Holding Trade Value Shares
Change 		Change in
Stake
BCIM
151
British Columbia Investment Management
British Columbia, Canada
$1.12M +$387K +9,000 +64%
GH
152
GAM Holding
Switzerland
$1.08M +$954K +22,200 New
Royal Bank of Canada
153
Royal Bank of Canada
Ontario, Canada
$1.07M -$137K -3,199 -13%
U
154
UBS
Switzerland
$1.03M +$73.5K +1,710 +9%
CIBC Private Wealth Group
155
CIBC Private Wealth Group
Georgia
$955K +$799K +18,583 New
BlackRock
156
BlackRock
New York
$953K +$250K +5,806 +42%
LBG
157
Lloyds Banking Group
United Kingdom
$946K -$513K -11,940 -38%
URS
158
Utah Retirement Systems
Utah
$935K +$4.3K +100 +0.5%
Canada Life
159
Canada Life
Manitoba, Canada
$866K +$63.9K +1,488 +9%
OPERF
160
Oregon Public Employees Retirement Fund
Oregon
$837K – – –
QIM
161
Quantitative Investment Management
Virginia
$837K +$739K +17,200 New
BA
162
BlackRock Advisors
Delaware
$793K +$18.2K +424 +3%
Los Angeles Capital Management
163
Los Angeles Capital Management
California
$764K -$3.01M -70,076 -82%
BP
164
BBR Partners
New York
$731K – – –
Marshall Wace
165
Marshall Wace
United Kingdom
$715K +$631K +14,680 New
PM
166
Platinum Management
New York
$682K +$602K +14,000 New
MA
167
Montag & Associates
Georgia
$623K -$249K -5,800 -31%
RCM
168
Reynolds Capital Management
Nevada
$599K -$43K -1,000 -8%
NA
169
Navellier & Associates
Nevada
$595K -$1.25K -29 -0.2%
AB
170
Amalgamated Bank
New York
$592K -$3.91K -91 -0.7%
GF
171
Gerstein Fisher
New York
$580K -$876K -20,380 -63%
Jane Street
172
Jane Street
New York
$569K +$252K +5,854 +100%
SCM
173
SOL Capital Management
Maryland
$567K – – –
MIU
174
Man Investments (UK)
United Kingdom
$560K -$248K -5,772 -33%
OC
175
Oppenheimer & Co
New York
$553K – – –
5 6
7
8 9

CAR Hedge Fund Activity: Q1 2014 in Review

240 of the 3,462 institutional investors tracked by Wall St. Rank reported a position in Avis (CAR) for Q1 2014, worth a combined $5.97B — up 26% from $4.73B a quarter earlier.

Buyers outnumbered sellers: 41 funds opened new CAR positions and 32 closed out — a net gain of 9 holders — while 59 added to existing stakes and 107 trimmed.

The largest buyer was Morgan Stanley, adding an estimated $205M. The largest seller was PAR Capital Management, cutting an estimated $122M.

  • 240 institutional investors held Avis (CAR) as of Q1 2014, up from 234 in Q4 2013.
  • Funds reported $5.97B of Avis stock for Q1 2014, up 26% quarter-over-quarter.
  • 41 funds opened new Avis positions in Q1 2014 and 32 closed out, a net change of +9 holders.
  • The largest Avis buyer in Q1 2014 was Morgan Stanley, an estimated $205M added.
  • The largest Avis seller in Q1 2014 was PAR Capital Management, an estimated $122M sold.

Based on aggregated 13F filings for Q1 2014.