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CarMax
KMX

704 hedge funds and large institutions have $13.9B invested in CarMax in 2023 Q2 according to their latest regulatory filings, with 95 funds opening new positions, 228 increasing their positions, 253 reducing their positions, and 61 closing their positions.

New
Increased
Maintained
Reduced
Closed

56% more first-time investments, than exits

New positions opened: 95 | Existing positions closed: 61

42% more funds holding in top 10

Funds holding in top 10: 19 → 27 (+8)

26% more capital invested

Capital invested by funds: $11B → $13.9B (+$2.87B)

5% more funds holding

Funds holding: 671 → 704 (+33)

10% less repeat investments, than reductions

Existing positions increased: 228 | Existing positions reduced: 253

3.49% less ownership

Funds ownership: 108.44% → 104.95% (-3.5%)

41% less call options, than puts

Call options by funds: $301M | Put options by funds: $509M

Holders
704
Holders Change
+33
Holders Change %
+4.92%
% of All Funds
11.05%
Holding in Top 10
27
Holding in Top 10 Change
+8
Holding in Top 10 Change %
+42.11%
% of All Funds
0.42%
New
95
Increased
228
Reduced
253
Closed
61
Calls
$301M
Puts
$509M
Net Calls
-$208M
Net Calls Change
+$338M

Top Buyers

1
Norges Bank
Norges Bank
Norway
+$86.1M
2
Corient Private Wealth
Corient Private Wealth
Florida
+$63.2M
3
Millennium Management
Millennium Management
New York
+$40.3M
4
Goldman Sachs
Goldman Sachs
New York
+$25.7M
5
Kovitz Investment Group Partners
Kovitz Investment Group Partners
Illinois
+$23.8M

Top Sellers

1
TCAM
Turtle Creek Asset Management
Ontario, Canada
-$56.7M
2
Two Sigma Investments
Two Sigma Investments
New York
-$46.3M
3
Invesco
Invesco
Georgia
-$45.5M
4
DCM
Dorsal Capital Management
California
-$45M
5
Wellington Management Group
Wellington Management Group
Massachusetts
-$44.7M
Name Holding Trade Value Shares
Change 		Change in
Stake
YIH
251
Y-Intercept (HK)
Hong Kong
$2.29M +$2.01M +27,390 New
RA
252
Royce & Associates
New York
$2.28M +$170K +2,324 +9%
YCM
253
Yousif Capital Management
Michigan
$2.28M -$14.6K -199 -0.7%
URS
254
Utah Retirement Systems
Utah
$2.27M -$65.9K -900 -3%
Parallax Volatility Advisers
255
Parallax Volatility Advisers
California
$2.27M +$1.98M +27,101 New
FAF
256
Fjarde Ap-fonden
Sweden
$2.21M +$564K +7,700 +41%
CIBC World Market
257
CIBC World Market
Ontario, Canada
$2.16M -$401K -5,474 -18%
Korea Investment Corp
258
Korea Investment Corp
South Korea
$2.11M -$233K -3,182 -11%
State of Tennessee, Department of Treasury
259
State of Tennessee, Department of Treasury
Tennessee
$2.11M – – –
Los Angeles Capital Management
260
Los Angeles Capital Management
California
$2.1M +$1.83M +25,037 New
M&T Bank
261
M&T Bank
New York
$2.09M -$12.1K -165 -0.7%
Victory Capital Management
262
Victory Capital Management
Texas
$2.06M -$972K -13,273 -35%
BS
263
Biglari Sardar
$2.06M – – –
GAG
264
Goodman Advisory Group
Massachusetts
$2.05M +$1.8M +24,532 New
Rafferty Asset Management
265
Rafferty Asset Management
New York
$2.03M +$8.35K +114 +0.5%
GCMG
266
Gyroscope Capital Management Group
Florida
$2M +$45.1K +616 +3%
ProShare Advisors
267
ProShare Advisors
Maryland
$2M +$62.5K +854 +4%
BNP Paribas Asset Management
268
BNP Paribas Asset Management
France
$1.94M +$811K +11,071 +91%
X
269
Xponance
Pennsylvania
$1.94M -$141K -1,930 -8%
KCM
270
Kornitzer Capital Management
Kansas
$1.94M – – –
CIBC Asset Management
271
CIBC Asset Management
Ontario, Canada
$1.94M -$15.6K -213 -0.9%
Zurich Cantonal Bank
272
Zurich Cantonal Bank
Switzerland
$1.93M -$15.4K -211 -0.9%
LCM
273
Logan Capital Management
Pennsylvania
$1.93M -$467K -6,377 -22%
LAM
274
Lakewood Asset Management
Illinois
$1.93M -$1.46K -20 -0.1%
VF
275
Virtu Financial
New York
$1.91M +$1.67M +22,810 New
9 10
11
12 13

KMX Hedge Fund Activity: Q2 2023 in Review

704 of the 6,369 institutional investors tracked by Wall St. Rank reported a position in CarMax (KMX) for Q2 2023, worth a combined $13.9B — up 26% from $11B a quarter earlier.

Buyers outnumbered sellers: 95 funds opened new KMX positions and 61 closed out — a net gain of 34 holders — while 228 added to existing stakes and 253 trimmed.

The largest buyer was Norges Bank, adding an estimated $86.1M. The largest seller was Turtle Creek Asset Management, cutting an estimated $56.7M.

  • 704 institutional investors held CarMax (KMX) as of Q2 2023, up from 671 in Q1 2023.
  • Funds reported $13.9B of CarMax stock for Q2 2023, up 26% quarter-over-quarter.
  • 95 funds opened new CarMax positions in Q2 2023 and 61 closed out, a net change of +34 holders.
  • The largest CarMax buyer in Q2 2023 was Norges Bank, an estimated $86.1M added.
  • The largest CarMax seller in Q2 2023 was Turtle Creek Asset Management, an estimated $56.7M sold.

Based on aggregated 13F filings for Q2 2023.