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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
OAM
451
Oppenheimer Asset Management
New York
$456K -$176K -2,410 -31%
APG Asset Management
452
APG Asset Management
Netherlands
$450K -$7.32K -100 -2%
BFEC
453
Benjamin F. Edwards & Company
Missouri
$449K -$40.1K -548 -9%
PA
454
Procyon Advisors
Connecticut
$448K +$392K +5,349 New
ET
455
Equitable Trust
Tennessee
$440K -$13.8K -189 -3%
Assenagon Asset Management
456
Assenagon Asset Management
Luxembourg
$437K – – –
P
457
Pitcairn
Pennsylvania
$436K +$382K +5,212 New
AWM
458
Apollon Wealth Management
South Carolina
$434K +$379K +5,180 New
CT
459
Clearstead Trust
Maine
$432K +$34.4K +470 +8%
CW
460
Connectus Wealth
Ohio
$425K – – –
TSW
461
Thompson Siegel & Walmsley
Virginia
$424K – – –
PCS
462
Personal CFO Solutions
New Jersey
$422K +$33.9K +463 +10%
GT
463
Glenmede Trust
Pennsylvania
$422K – – –
CFA
464
Capstone Financial Advisors
Illinois
$419K – – –
EWA
465
Encompass Wealth Advisors
Oregon
$419K – – –
PCM
466
PAR Capital Management
Massachusetts
$419K +$366K +5,000 New
NMIMC
467
Northwestern Mutual Investment Management Company
Wisconsin
$418K +$1.68K +23 +0.5%
KA
468
Kintegral Advisory
New York
$416K – – –
SCA
469
Snowden Capital Advisors
New York
$412K -$28K -382 -7%
CC
470
Centiva Capital
New York
$408K +$357K +4,877 New
BFA
471
Beacon Financial Advisory
Ohio
$406K +$24.8K +339 +8%
EF
472
Empirical Finance
Pennsylvania
$406K +$39.8K +543 +13%
PP
473
Patten & Patten
Tennessee
$405K -$47.6K -650 -12%
CAMV
474
Concord Asset Management (Virginia)
Virginia
$398K +$54.6K +746 +19%
MGP
475
Metis Global Partners
California
$398K -$12.9K -176 -4%
17 18
19
20 21

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.