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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
AUB
526
Atlantic Union Bankshares
Virginia
$240K – – –
NICM
527
Neo Ivy Capital Management
New York
$240K -$2.55M -37,886 -92%
AIMCA
528
Alberta Investment Management Corp (AIMCo)
Alberta, Canada
$238K – – –
SBIA
529
Sheaff Brock Investment Advisors
Indiana
$238K -$7.39K -110 -3%
DWA
530
Douglass Winthrop Advisors
New York
$236K – – –
SWS
531
SYSTM Wealth Solutions
Illinois
$235K -$1.21M -18,030 -86%
WWC
532
Waypoint Wealth Counsel
Georgia
$233K -$941 -14 -0.5%
SFA
533
Sequoia Financial Advisors
Ohio
$232K +$203K +3,023 New
PCC
534
Park Circle Company
Maryland
$230K – – –
CA
535
Carson Advisory
Georgia
$230K -$253K -3,769 -56%
LRIA
536
Leonard Rickey Investment Advisors
Washington
$229K +$269 +4 +0.1%
BCV
537
Banque Cantonale Vaudoise
Switzerland
$228K +$41.1K +612 +26%
FNBT
538
FineMark National Bank & Trust
Florida
$228K – – –
AWS
539
Atria Wealth Solutions
New York
$228K +$199K +2,966 New
FSA
540
Franklin Street Advisors
North Carolina
$227K – – –
ZIM
541
Zacks Investment Management
Illinois
$221K +$194K +2,884 New
BTWM
542
Baker Tilly Wealth Management
Wisconsin
$221K -$62K -923 -24%
RCG
543
Regatta Capital Group
California
$219K +$192K +2,858 New
PE
544
Point72 Europe
United Kingdom
$217K +$190K +2,824 New
KA
545
Klingman & Associates
New York
$214K +$187K +2,785 New
CF
546
Centaurus Financial
California
$212K -$20.9K -311 -10%
VCM
547
Virtue Capital Management
Tennessee
$211K -$71.3K -1,061 -27%
NAS
548
Nicolet Advisory Services
Wisconsin
$208K -$56.9K -846 -23%
AWAP
549
Alliance Wealth Advisors (Pennsylvania)
Pennsylvania
$204K -$61.4K -914 -26%
KWM
550
Keebeck Wealth Management
Illinois
$202K +$177K +2,636 New
20 21
22
23 24

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.