726 hedge funds and large institutions have $10.8B invested in CarMax in 2025 Q2 according to their latest regulatory filings, with 104 funds opening new positions, 260 increasing their positions, 274 reducing their positions, and 116 closing their positions.

New
Increased
Maintained
Reduced
Closed

more call options, than puts

Call options by funds: $ | Put options by funds: $

more ownership

Funds ownership:

less repeat investments, than reductions

Existing positions increased: | Existing positions reduced:

less funds holding

Funds holding:

10% less first-time investments, than exits

New positions opened: 104 | Existing positions closed: 116

12% less capital invested

Capital invested by funds: $12.2B → $10.8B (-$1.45B)

41% less funds holding in top 10

Funds holding in top 10: 2213 (-9)

Holders
726
Holders Change
Holders Change %
% of All Funds
Holding in Top 10
13
Holding in Top 10 Change
Holding in Top 10 Change %
% of All Funds
New
Increased
Reduced
Closed
Calls
$184M
Puts
$108M
Net Calls
Net Calls Change
Name Holding Trade Value Shares
Change
Change in
Stake
LPL Financial
101
LPL Financial
California
$14.7M
Bank of Montreal
102
Bank of Montreal
Ontario, Canada
$13.8M
California Public Employees Retirement System
103
California Public Employees Retirement System
California
$13.6M
HF
104
HRT Financial
New York
$13.4M
ONB
105
Old National Bancorp
Indiana
$13.2M
ACM
106
Aquatic Capital Management
Illinois
$13.2M
OC
107
Oppenheimer & Co
New York
$13M
HFS
108
Hantz Financial Services
Michigan
$12.9M
MPWT
109
MassMutual Private Wealth & Trust
Connecticut
$11.7M
GS
110
Gagnon Securities
New York
$11M
Osaic Holdings
111
Osaic Holdings
Arizona
$10.8M
AllianceBernstein
112
AllianceBernstein
Tennessee
$10.7M
Mitsubishi UFJ Asset Management
113
Mitsubishi UFJ Asset Management
Japan
$10.7M
LCOV
114
London Company of Virginia
Virginia
$10.6M
Stifel Financial
115
Stifel Financial
Missouri
$10.6M
Fidelity Investments
116
Fidelity Investments
Massachusetts
$10.5M
Cetera Investment Advisers
117
Cetera Investment Advisers
Illinois
$10.5M
First Manhattan
118
First Manhattan
New York
$10.5M
Brown Advisory
119
Brown Advisory
Maryland
$10.4M
Ninety One (UK)
120
Ninety One (UK)
United Kingdom
$10.4M
State Board of Administration of Florida Retirement System
121
State Board of Administration of Florida Retirement System
Florida
$10.2M
ACM
122
AKRE Capital Management
Virginia
$10.1M
HCM
123
Hutchinson Capital Management
California
$9.96M
ERP
124
Eldred Rock Partners
Texas
$9.89M
California State Teachers Retirement System (CalSTRS)
125
California State Teachers Retirement System (CalSTRS)
California
$9.83M