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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
TAM
201
Tocqueville Asset Management
New York
$331K -$86.8K -1,646 -18%
NFA
202
Nationwide Fund Advisors
Ohio
$331K +$285K +5,406 +258%
Prudential Financial
203
Prudential Financial
New Jersey
$308K -$1.47M -27,900 -80%
NCCM
204
Nine Chapters Capital Management
New Jersey
$295K +$353K +6,700 New
AAM
205
Advisors Asset Management
Colorado
$273K -$59.5K -1,128 -15%
GCA
206
Gideon Capital Advisors
New York
$268K +$321K +6,076 New
BlackRock
207
BlackRock
New York
$267K -$12K -227 -4%
Nomura Holdings
208
Nomura Holdings
Japan
$260K +$299K +5,663 New
M&T Bank
209
M&T Bank
New York
$256K -$52K -985 -15%
CIM
210
Calvert Investment Management
Maryland
$239K +$38.5K +729 +16%
Connor, Clark & Lunn Investment Management (CC&L)
211
Connor, Clark & Lunn Investment Management (CC&L)
British Columbia, Canada
$238K +$285K +5,400 New
CCS
212
Crosspoint Capital Strategies
California
$231K +$277K +5,246 New
OMCS
213
Old Mutual Customised Solutions
South Africa
$220K – – –
PCM
214
Piermont Capital Management
Missouri
$220K – – –
ACI
215
AMP Capital Investors
Australia
$211K -$406K -7,700 -62%
PAM
216
Panagora Asset Management
Massachusetts
$201K -$884K -16,764 -79%
SEC
217
Seven Eight Capital
New York
$190K +$227K +4,307 New
HHMI
218
Howard Hughes Medical Institute
Maryland
$185K -$209K -3,968 -49%
Teacher Retirement System of Texas
219
Teacher Retirement System of Texas
Texas
$182K +$48.3K +916 +28%
PCM
220
Prelude Capital Management
New York
$132K +$158K +3,000 New
AIG
221
American International Group
New York
$127K -$56.6K -1,073 -27%
IRS
222
Invictus RG (Singapore)
Singapore
$111K -$493K -9,345 -79%
JIR
223
James Investment Research
Ohio
$79K -$3.28M -62,195 -97%
Allianz Asset Management
224
Allianz Asset Management
Germany
$74K +$84.4K +1,600 New
AG
225
Ashmore Group
United Kingdom
$73K – – –
7 8
9
10 11

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.