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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
Mackenzie Financial
426
Mackenzie Financial
Ontario, Canada
$527K +$220 +3 +0%
HP
427
Hartree Partners
New York
$523K +$458K +6,250 New
XF
428
XML Financial
Maryland
$522K +$19.8K +270 +5%
CA
429
Clearstead Advisors
Ohio
$520K +$358K +4,886 +368%
CCG
430
Cypress Capital Group
Florida
$519K – – –
TI
431
Tidal Investments
Wisconsin
$518K -$452K -6,169 -50%
Aviva
432
Aviva
United Kingdom
$511K -$857K -11,702 -66%
Squarepoint
433
Squarepoint
New York
$507K -$14.7M -200,590 -97%
RCA
434
Resonant Capital Advisors
Wisconsin
$507K +$27.2K +372 +7%
RP
435
Riverwater Partners
Wisconsin
$506K – – –
CSS
436
Cubist Systematic Strategies
Connecticut
$502K -$11.1M -150,961 -96%
NSEDCP
437
NJ State Employees Deferred Compensation Plan
New Jersey
$502K – – –
BF
438
BOK Financial
Oklahoma
$495K – – –
CPIG
439
Chicago Partners Investment Group
Illinois
$490K -$245K -3,342 -36%
IWA
440
Intercontinental Wealth Advisors
Texas
$488K – – –
WSTAM
441
Wilbanks Smith & Thomas Asset Management
Virginia
$485K +$73 +1 +0%
CWA
442
CM Wealth Advisors
Ohio
$483K -$2.95M -40,304 -87%
SLAM
443
Swiss Life Asset Management
$483K +$422K +5,763 New
LAM
444
Lountzis Asset Management
Pennsylvania
$478K – – –
CFB
445
Cullen/Frost Bankers
Texas
$475K -$13.3K -181 -3%
KRSITF
446
Kentucky Retirement Systems Insurance Trust Fund
Kentucky
$475K +$4.1K +56 +1%
UCB
447
United Community Bank
South Carolina
$470K +$88.6K +1,210 +27%
CIAS
448
Capital Investment Advisory Services
North Carolina
$459K +$20.1K +275 +5%
TAM
449
Tocqueville Asset Management
New York
$458K +$401K +5,476 New
MCM
450
Manchester Capital Management
Vermont
$457K – – –
16 17
18
19 20

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.