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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
PFA
326
Professional Financial Advisors
Nebraska
$1.21M +$137K +2,043 +15%
HAG
327
HF Advisory Group
Maryland
$1.18M +$304K +4,521 +42%
Wealthfront Advisers
328
Wealthfront Advisers
California
$1.17M -$308K -4,588 -23%
PAM
329
Panagora Asset Management
Massachusetts
$1.14M – – –
UBS Group
330
UBS Group
Switzerland
$1.13M -$3.7K -55 -0.4%
DPAM
331
Degroof Petercam Asset Management
Belgium
$1.11M +$971K +14,445 New
VI
332
Versor Investments
New York
$1.07M +$402K +5,976 +75%
RIA
333
Realta Investment Advisors
Delaware
$1.06M -$6.25K -93 -0.7%
EMPI
334
Elo Mutual Pension Insurance
Finland
$1.06M +$43.3K +644 +5%
Pacer Advisors
335
Pacer Advisors
Pennsylvania
$1.06M -$5.23M -77,737 -85%
TRSOTSOK
336
Teachers Retirement System of the State of Kentucky
Kentucky
$1.05M -$41.3K -615 -4%
PA
337
Procyon Advisors
Connecticut
$1.04M -$78.7K -1,170 -8%
BPA
338
Beacon Pointe Advisors
California
$1.04M +$73.3K +1,090 +9%
IVP
339
Intrinsic Value Partners
Arizona
$1.03M -$9.41K -140 -1%
ST
340
Sabal Trust
Florida
$1.01M +$134 +2 +0%
BL
341
Balentine LLC
Georgia
$1.01M -$182K -2,701 -17%
GIBU
342
Gulf International Bank (UK)
United Kingdom
$1.01M -$197K -2,931 -18%
JFG
343
Jefferies Financial Group
New York
$996K +$519K +7,727 +147%
PFPT
344
Pinnacle Financial Partners (Tennessee)
Tennessee
$993K -$2.24M -33,288 -72%
N
345
Numerai
California
$984K +$862K +12,817 New
ASN
346
Advisory Services Network
Georgia
$983K -$205K -3,050 -19%
WSC
347
Wellington Shields & Co
New York
$977K -$7.19K -107 -0.8%
KRS
348
Kentucky Retirement Systems
Kentucky
$974K +$16.9K +252 +2%
SMDAM
349
Sumitomo Mitsui DS Asset Management
Japan
$970K – – –
Nordea Investment Management
350
Nordea Investment Management
Sweden
$962K – – –
12 13
14
15 16

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.