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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
CAM
201
Capstone Asset Management
Texas
$205K -$55.9K -1,300 -24%
NCCM
202
Nine Chapters Capital Management
New Jersey
$205K +$180K +4,200 New
Teacher Retirement System of Texas
203
Teacher Retirement System of Texas
Texas
$195K -$1.59K -37 -0.9%
Bank of Montreal
204
Bank of Montreal
Ontario, Canada
$194K -$53.5K -1,245 -24%
VAM
205
Visium Asset Management
New York
$161K +$142K +3,298 New
BKBG
206
BHF Kleinwort Benson Group
Belgium
$160K +$141K +3,290 New
AIG
207
American International Group
New York
$113K -$120K -2,794 -55%
SG Americas Securities
208
SG Americas Securities
New York
$102K -$560K -13,040 -86%
OIA
209
Optimum Investment Advisors
Illinois
$71K – – –
Asset Management One
210
Asset Management One
Japan
$65K -$34.4K -800 -38%
PI
211
PineBridge Investments
New York
$64K +$56.1K +1,306 New
Parallax Volatility Advisers
212
Parallax Volatility Advisers
California
$62K +$54.5K +1,269 New
HMS
213
Hanseatic Management Services
New Mexico
$52.1K -$1.41M -32,734 -93%
ST
214
SpiderRock Trading
Illinois
$46K – – –
Creative Planning
215
Creative Planning
Kansas
$35K +$2.58K +60 +9%
MAA
216
Managed Account Advisors
New Jersey
$30K -$229K -5,335 -90%
PCM
217
Prelude Capital Management
New York
$23K -$22.3K -520 -52%
LTFS
218
Ladenburg Thalmann Financial Services
Florida
$23K +$6.45K +150 +48%
BPBT
219
Boston Private Bank & Trust
Massachusetts
$22K – – –
MI
220
Markston International
New York
$19K – – –
GT
221
Glenmede Trust
Pennsylvania
$18K – – –
AP
222
Advisors Preferred
Maryland
$14.8K -$8.72K -203 -40%
JFGIW
223
Johnson Financial Group Inc (Wisconsin)
Wisconsin
$12K – – –
JG
224
Jefferies Group
New York
$8K -$2.48M -57,745 -100%
PSI
225
Pinnacle Summer Investments
Virginia
$8K -$3.31K -77 -33%
7 8
9
10 11

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.