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CarMax
KMX

704 hedge funds and large institutions have $13.1B invested in CarMax in 2023 Q4 according to their latest regulatory filings, with 94 funds opening new positions, 232 increasing their positions, 276 reducing their positions, and 64 closing their positions.

New
Increased
Maintained
Reduced
Closed

47% more first-time investments, than exits

New positions opened: 94 | Existing positions closed: 64

11% more capital invested

Capital invested by funds: $11.9B → $13.1B (+$1.26B)

5% more funds holding in top 10

Funds holding in top 10: 20 → 21 (+1)

3% more funds holding

Funds holding: 682 → 704 (+22)

2.3% more ownership

Funds ownership: 105.82% → 108.12% (+2.3%)

16% less repeat investments, than reductions

Existing positions increased: 232 | Existing positions reduced: 276

28% less call options, than puts

Call options by funds: $306M | Put options by funds: $425M

Holders
704
Holders Change
+22
Holders Change %
+3.23%
% of All Funds
10.26%
Holding in Top 10
21
Holding in Top 10 Change
+1
Holding in Top 10 Change %
+5%
% of All Funds
0.31%
New
94
Increased
232
Reduced
276
Closed
64
Calls
$306M
Puts
$425M
Net Calls
-$119M
Net Calls Change
+$92M

Top Buyers

1
Morgan Stanley
Morgan Stanley
New York
+$142M
2
MIS
Morningstar Investment Services
Illinois
+$89.2M
3
Diamond Hill Capital Management
Diamond Hill Capital Management
Ohio
+$77.4M
4
Holocene Advisors
Holocene Advisors
New York
+$47.9M
5
Adage Capital Partners
Adage Capital Partners
Massachusetts
+$40.2M

Top Sellers

1
RCG
Ruane, Cunniff & Goldfarb
New York
-$96.7M
2
Wellington Management Group
Wellington Management Group
Massachusetts
-$87.7M
3
Citadel Advisors
Citadel Advisors
Florida
-$87.2M
4
Goldman Sachs
Goldman Sachs
New York
-$61.5M
5
Los Angeles Capital Management
Los Angeles Capital Management
California
-$42.7M
Name Holding Trade Value Shares
Change 		Change in
Stake
CG
226
Cynosure Group
Utah
$2.94M +$1.67M +24,897 +186%
BFS
227
Bard Financial Services
Connecticut
$2.87M -$67.2K -1,000 -3%
Millennium Management
228
Millennium Management
New York
$2.85M -$37.2M -553,409 -94%
AI
229
Atria Investments
North Carolina
$2.83M -$183K -2,723 -7%
Mirae Asset Global Investments
230
Mirae Asset Global Investments
South Korea
$2.82M +$90.3K +1,343 +4%
TIM
231
Triad Investment Management
California
$2.75M -$268K -3,982 -10%
MME
232
Meag Munich Ergo
Germany
$2.74M -$1.29M -19,217 -35%
RFC
233
Regions Financial Corp
Alabama
$2.72M +$115K +1,717 +5%
Retirement Systems of Alabama
234
Retirement Systems of Alabama
Alabama
$2.68M -$54.1K -805 -2%
COPPSERS
235
Commonwealth of Pennsylvania Public School Employees Retirement System
Pennsylvania
$2.67M +$197K +2,935 +9%
ACM
236
Aquatic Capital Management
Illinois
$2.66M +$1.91M +28,400 +451%
BCI
237
Brinker Capital Investments
Pennsylvania
$2.64M -$367K -5,454 -13%
OPS
238
Orion Portfolio Solutions
Nebraska
$2.64M -$367K -5,454 -13%
PGCM
239
Prescott Group Capital Management
Oklahoma
$2.61M +$941K +14,000 +70%
SSWM
240
Sheets Smith Wealth Management
North Carolina
$2.55M – – –
BBVA
241
Banco Bilbao Vizcaya Argentaria
Spain
$2.51M +$335K +4,989 +18%
TPSF
242
Texas Permanent School Fund
Texas
$2.5M +$3.63K +54 +0.2%
GHAM
243
Gilman Hill Asset Management
Connecticut
$2.47M -$15.8K -235 -0.7%
GWM
244
Graybill Wealth Management
Illinois
$2.43M +$26.1K +388 +1%
FAF
245
Första AP-fonden
Sweden
$2.42M -$80.7K -1,200 -4%
HT
246
HAP Trading
New York
$2.39M -$7.69M -114,420 -79%
SAM
247
Storebrand Asset Management
Norway
$2.38M -$84.8K -1,262 -4%
Russell Investments Group
248
Russell Investments Group
United Kingdom
$2.36M -$659K -9,810 -24%
FAF
249
Fjarde Ap-fonden
Sweden
$2.36M +$40.3K +600 +2%
DekaBank Deutsche Girozentrale
250
DekaBank Deutsche Girozentrale
Germany
$2.36M +$96K +1,428 +5%
8 9
10
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KMX Hedge Fund Activity: Q4 2023 in Review

704 of the 6,859 institutional investors tracked by Wall St. Rank reported a position in CarMax (KMX) for Q4 2023, worth a combined $13.1B — up 11% from $11.9B a quarter earlier.

Buyers outnumbered sellers: 94 funds opened new KMX positions and 64 closed out — a net gain of 30 holders — while 232 added to existing stakes and 276 trimmed.

The largest buyer was Morgan Stanley, adding an estimated $142M. The largest seller was Ruane, Cunniff & Goldfarb, cutting an estimated $96.7M.

  • 704 institutional investors held CarMax (KMX) as of Q4 2023, up from 682 in Q3 2023.
  • Funds reported $13.1B of CarMax stock for Q4 2023, up 11% quarter-over-quarter.
  • 94 funds opened new CarMax positions in Q4 2023 and 64 closed out, a net change of +30 holders.
  • The largest CarMax buyer in Q4 2023 was Morgan Stanley, an estimated $142M added.
  • The largest CarMax seller in Q4 2023 was Ruane, Cunniff & Goldfarb, an estimated $96.7M sold.

Based on aggregated 13F filings for Q4 2023.