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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
CA
351
Continuum Advisory
Idaho
$959K -$170K -2,526 -17%
OPERF
352
Oregon Public Employees Retirement Fund
Oregon
$952K +$11.1K +165 +1%
CIA
353
Cape Investment Advisory
Georgia
$942K +$20.6K +306 +3%
MW
354
Maia Wealth
Colorado
$930K +$814K +12,115 New
Cetera Investment Advisers
355
Cetera Investment Advisers
Illinois
$926K -$45.8K -682 -5%
MSRPS
356
Maryland State Retirement & Pension System
Maryland
$925K – – –
ECP
357
Epacria Capital Partners
Colorado
$921K – – –
Creative Planning
358
Creative Planning
Kansas
$911K -$184K -2,734 -19%
DADC
359
D.A. Davidson & Co
Montana
$909K +$26.9K +400 +3%
BCM
360
Bayesian Capital Management
New York
$904K +$792K +11,785 New
CIBC World Market
361
CIBC World Market
Ontario, Canada
$901K -$562K -8,353 -42%
BBHC
362
Brown Brothers Harriman & Co
New York
$900K -$242K -3,607 -24%
WA
363
Waverly Advisors
Alabama
$896K +$785K +11,670 New
PPWP
364
Premier Path Wealth Partners
New Jersey
$893K +$771K +11,475 New
LKIM
365
Lawson Kroeker Investment Management
Nebraska
$892K – – –
PAG
366
Private Advisor Group
New Jersey
$881K +$168K +2,497 +28%
CSPAM
367
Cary Street Partners Asset Management
Virginia
$878K -$28.6K -425 -4%
CWM
368
Compass Wealth Management
Connecticut
$875K – – –
EI
369
Ethic Inc
New York
$875K -$7.66K -114 -1%
VCA
370
Verdence Capital Advisors
Maryland
$853K +$102K +1,518 +16%
AWM
371
Avior Wealth Management
Nebraska
$852K +$26.9K +400 +4%
CC
372
Copperleaf Capital
North Carolina
$852K -$24.1K -359 -3%
CWM
373
Chemistry Wealth Management
New York
$830K +$2.15K +32 +0.3%
EF
374
Empowered Funds
Pennsylvania
$826K -$34.8K -518 -5%
HIMCH
375
Hartford Investment Management Co (HIMCO)
Connecticut
$819K -$7.46K -111 -1%
13 14
15
16 17

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.