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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
FGAM
701
Financial Gravity Asset Management
Texas
$199 +$6.15K +84 New
Comerica Bank
702
Comerica Bank
Texas
$117 +$639K +8,724 New
SWA
703
SOA Wealth Advisors
New York
$84 – – –
DCM
704
Dorsal Capital Management
California
– -$45M -700,000 Closed
Renaissance Technologies
705
Renaissance Technologies
New York
– -$37.9M -589,700 Closed
MC
706
MIG Capital
California
– -$12M -187,109 Closed
Two Sigma Advisers
707
Two Sigma Advisers
New York
– -$9.71M -151,100 Closed
WBC
708
Westpac Banking Corp
Australia
– -$5.61M -87,244 Closed
HF
709
HRT Financial
New York
– -$5.5M -85,512 Closed
Qube Research & Technologies (QRT)
710
Qube Research & Technologies (QRT)
United Kingdom
– -$4.75M -73,836 Closed
Marshall Wace
711
Marshall Wace
United Kingdom
– -$4.56M -70,969 Closed
IIA
712
IPG Investment Advisors
California
– -$4.39M -68,310 Closed
FC
713
FORA Capital
Florida
– -$2.15M -33,501 Closed
HV
714
HST Ventures
Utah
– -$1.98M -30,873 Closed
OAG
715
Orbis Allan Gray
Bermuda
– -$1.94M -30,122 Closed
PRC
716
Pearl River Capital
Michigan
– -$1.13M -17,555 Closed
CCM
717
CAAS Capital Management
New York
– -$1.07M -14,670 Closed
IMC Chicago
718
IMC Chicago
Illinois
– -$1.07M -14,621 Closed
WEG
719
World Equity Group
Illinois
– -$281K -14,330 Closed
TCM
720
Teza Capital Management
Illinois
– -$866K -13,477 Closed
GP
721
Greenline Partners
New York
– -$746K -11,605 Closed
EP
722
Edgestream Partners
New Jersey
– -$707K -10,994 Closed
VI
723
Versor Investments
New York
– -$572K -8,902 Closed
QIM
724
Quantitative Investment Management
Virginia
– -$478K -7,440 Closed
Nomura Holdings
725
Nomura Holdings
Japan
– -$501K -6,838 Closed
27 28
29
30 31

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.