CarMax
558 hedge funds and large institutions have $7.8B invested in CarMax in 2026 Q2 according to their latest regulatory filings, with 94 funds opening new positions, 133 increasing their positions, 258 reducing their positions, and 81 closing their positions.
16% more first-time investments, than exits
New positions opened: 94 | Existing positions closed: 81
8% more funds holding in top 10
Funds holding in top 10: 13 → 14 (+1)
1% more funds holding
Funds holding: 550 → 558 (+8)
7% more call options, than puts
Call options by funds: $179M | Put options by funds: $167M
3% less capital inflows, than outflows
Capital inflows: $980M | Capital outflows: $1.01B
4.04% less ownership
Funds ownership: 108.02% → 103.99% (-4%)
48% less repeat investments, than reductions
Existing positions increased: 133 | Existing positions reduced: 258
Top Buyers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
Hawk Ridge Capital Management
Los Angeles,
California
|
+$123M |
| 2 |
Canada Pension Plan Investment Board
Toronto Ontario,
Ontario, Canada
|
+$83M |
| 3 |
American Century Companies
Kansas City,
Missouri
|
+$80.9M |
| 4 |
Slate Path Capital
New York
|
+$79.5M |
| 5 |
Alyeska Investment Group
Chicago,
Illinois
|
+$41.7M |
Top Sellers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
AQR Capital Management
Greenwich,
Connecticut
|
-$150M |
| 2 |
Starboard Value
New York
|
-$130M |
| 3 |
Apollo Management Holdings
New York
|
-$93.9M |
| 4 |
Vulcan Value Partners
Birmingham,
Alabama
|
-$56.2M |
| 5 |
Pacer Advisors
Malvern,
Pennsylvania
|
-$48.6M |
KMX Hedge Fund Activity: Q2 2026 in Review
558 of the 8,358 institutional investors tracked by Wall St. Rank reported a position in CarMax (KMX) for Q2 2026, worth a combined $7.8B — up 23% from $6.36B a quarter earlier.
Buyers outnumbered sellers: 94 funds opened new KMX positions and 81 closed out — a net gain of 13 holders — while 133 added to existing stakes and 258 trimmed.
The largest buyer was Hawk Ridge Capital Management, opening a new position worth an estimated $123M. The largest seller was AQR Capital Management, cutting an estimated $150M.
- 558 institutional investors held CarMax (KMX) as of Q2 2026, up from 550 in Q1 2026.
- Funds reported $7.8B of CarMax stock for Q2 2026, up 23% quarter-over-quarter.
- 94 funds opened new CarMax positions in Q2 2026 and 81 closed out, a net change of +13 holders.
- The largest CarMax buyer in Q2 2026 was Hawk Ridge Capital Management, an estimated $123M added.
- The largest CarMax seller in Q2 2026 was AQR Capital Management, an estimated $150M sold.
Based on aggregated 13F filings for Q2 2026.