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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
DEA
501
DoubleLine ETF Adviser
Florida
$281K +$3.16K +47 +1%
RG
502
Rathbones Group
United Kingdom
$276K – – –
Public Sector Pension Investment Board (PSP Investments)
503
Public Sector Pension Investment Board (PSP Investments)
Quebec, Canada
$276K -$895K -13,313 -79%
SWM
504
Segment Wealth Management
Texas
$275K +$241K +3,589 New
HIS
505
Harvest Investment Services
Illinois
$275K +$241K +3,583 New
SAM
506
Sompo Asset Management
Japan
$273K -$63.9K -950 -21%
IWA
507
Icon Wealth Advisors
Texas
$271K +$238K +3,535 New
PWS
508
Precision Wealth Strategies
Missouri
$271K -$1.01K -15 -0.4%
ECG
509
Edge Capital Group
Georgia
$271K -$269 -4 -0.1%
I
510
InceptionR
California
$267K +$234K +3,479 New
BAMF
511
BI Asset Management Fondsmaeglerselskab
Denmark
$266K -$396K -5,897 -63%
MG
512
Meritage Group
California
$266K +$15.1K +224 +7%
MHIC
513
Marble Harbor Investment Counsel
Massachusetts
$266K -$49.7K -740 -18%
WANY
514
Wealthspire Advisors (New York)
New York
$264K -$129K -1,919 -36%
AFG
515
Allegheny Financial Group
Pennsylvania
$263K – – –
KC
516
Kinloch Capital
Virginia
$261K -$3.36K -50 -1%
BMCM
517
Bryn Mawr Capital Management
Pennsylvania
$261K +$229K +3,400 New
FFM
518
Forum Financial Management
Illinois
$258K +$32.1K +478 +17%
Lido Advisors
519
Lido Advisors
California
$257K -$30.3K -450 -12%
GCP
520
GSA Capital Partners
United Kingdom
$253K -$95.4K -1,419 -30%
BCM
521
Brookstone Capital Management
Illinois
$253K -$17.6K -262 -7%
SAM
522
Summit Asset Management
Tennessee
$252K – – –
MAM
523
Meeder Asset Management
Ohio
$246K – – –
TFS
524
Thoroughbred Financial Services
Tennessee
$244K -$1.61K -24 -0.7%
Vontobel Holding
525
Vontobel Holding
Switzerland
$243K +$18.8K +279 +10%
19 20
21
22 23

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.