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CarMax
KMX

423 hedge funds and large institutions have $12.4B invested in CarMax in 2015 Q4 according to their latest regulatory filings, with 44 funds opening new positions, 160 increasing their positions, 158 reducing their positions, and 52 closing their positions.

New
Increased
Maintained
Reduced
Closed

6.4% more ownership

Funds ownership: 100.45% → 106.85% (+6.4%)

1% more repeat investments, than reductions

Existing positions increased: 160 | Existing positions reduced: 158

2% less funds holding

Funds holding: 433 → 423 (-10)

7% less capital invested

Capital invested by funds: $13.4B → $12.4B (-$998M)

15% less first-time investments, than exits

New positions opened: 44 | Existing positions closed: 52

19% less call options, than puts

Call options by funds: $115M | Put options by funds: $142M

23% less funds holding in top 10

Funds holding in top 10: 22 → 17 (-5)

Holders
423
Holders Change
-10
Holders Change %
-2.31%
% of All Funds
11.1%
Holding in Top 10
17
Holding in Top 10 Change
-5
Holding in Top 10 Change %
-22.73%
% of All Funds
0.45%
New
44
Increased
160
Reduced
158
Closed
52
Calls
$115M
Puts
$142M
Net Calls
-$26.5M
Net Calls Change
-$6.94M

Top Buyers

1
Principal Financial Group
Principal Financial Group
Iowa
+$80.2M
2
Primecap Management
Primecap Management
California
+$79.4M
3
Manulife (Manufacturers Life Insurance)
Manulife (Manufacturers Life Insurance)
Ontario, Canada
+$79.2M
4
Citadel Advisors
Citadel Advisors
Florida
+$75.1M
5
Harris Associates
Harris Associates
Illinois
+$65.3M

Top Sellers

1
Deutsche Bank
Deutsche Bank
Germany
-$49.1M
2
TCIM
TIAA CREF Investment Management
New York
-$48M
3
FPA
First Pacific Advisors
California
-$45.1M
4
Wells Fargo
Wells Fargo
California
-$44.7M
5
ESCM
Echo Street Capital Management
New York
-$36.7M
Name Holding Trade Value Shares
Change 		Change in
Stake
CONA
276
Capital One National Association
New York
$593K +$13.4K +234 +2%
CIM
277
Calvert Investment Management
Maryland
$567K +$140K +2,457 +31%
PL
278
Parkwood LLC
Ohio
$556K – – –
SFU
279
Stonehage Fleming (UK)
United Kingdom
$552K +$43.6K +763 +8%
DekaBank Deutsche Girozentrale
280
DekaBank Deutsche Girozentrale
Germany
$547K -$83.5K -1,462 -13%
BMO
281
Beck Mack & Oliver
New York
$540K – – –
APFBOT
282
Amica Pension Fund Board of Trustees
Rhode Island
$539K +$570K +9,990 New
BNP Paribas Asset Management
283
BNP Paribas Asset Management
France
$526K -$241K -4,221 -30%
B
284
Barings
North Carolina
$524K -$811K -14,200 -59%
BNP Paribas Financial Markets
285
BNP Paribas Financial Markets
France
$506K -$86.6K -1,517 -14%
KCM
286
Kanawha Capital Management
Virginia
$498K +$527K +9,231 New
PC
287
Pier Capital
Connecticut
$497K +$11.9K +209 +2%
TSW
288
Thompson Siegel & Walmsley
Virginia
$494K – – –
Robeco Institutional Asset Management
289
Robeco Institutional Asset Management
Netherlands
$492K +$194K +3,394 +59%
HNB
290
Huntington National Bank
Ohio
$447K -$16K -281 -3%
TMAM
291
Tokio Marine Asset Management
Japan
$436K -$20.3K -356 -4%
WBC
292
Westpac Banking Corp
Australia
$432K -$799 -14 -0.2%
PA
293
Profund Advisors
Maryland
$432K +$43.9K +769 +11%
CC
294
Curian Capital
Colorado
$420K -$983K -17,216 -69%
KRSITF
295
Kentucky Retirement Systems Insurance Trust Fund
Kentucky
$410K +$36.5K +639 +9%
SCM
296
Southport Capital Management
Tennessee
$406K -$28.7K -502 -6%
V
297
Veritable
Delaware
$402K +$59.8K +1,048 +16%
Commonwealth Equity Services
298
Commonwealth Equity Services
Massachusetts
$399K -$625K -10,950 -60%
SO
299
STRS Ohio
Ohio
$399K -$189K -3,312 -31%
S
300
SignatureFD
Georgia
$380K +$367K +6,437 +1,055%
10 11
12
13 14

KMX Hedge Fund Activity: Q4 2015 in Review

423 of the 3,812 institutional investors tracked by Wall St. Rank reported a position in CarMax (KMX) for Q4 2015, worth a combined $12.4B — down 7.5% from $13.4B a quarter earlier.

Sellers outnumbered buyers: 52 funds closed out of KMX and 44 opened new positions — a net loss of 8 holders — while 158 trimmed existing stakes and 160 added.

The largest buyer was Principal Financial Group, adding an estimated $80.2M. The largest seller was Deutsche Bank, cutting an estimated $49.1M.

  • 423 institutional investors held CarMax (KMX) as of Q4 2015, down from 433 in Q3 2015.
  • Funds reported $12.4B of CarMax stock for Q4 2015, down 7.5% quarter-over-quarter.
  • 44 funds opened new CarMax positions in Q4 2015 and 52 closed out, a net change of -8 holders.
  • The largest CarMax buyer in Q4 2015 was Principal Financial Group, an estimated $80.2M added.
  • The largest CarMax seller in Q4 2015 was Deutsche Bank, an estimated $49.1M sold.

Based on aggregated 13F filings for Q4 2015.