CarMax
534 hedge funds and large institutions have $11B invested in CarMax in 2018 Q4 according to their latest regulatory filings, with 79 funds opening new positions, 180 increasing their positions, 191 reducing their positions, and 76 closing their positions.
36% more funds holding in top 10
Funds holding in top 10: 22 → 30 (+8)
4% more first-time investments, than exits
New positions opened: 79 | Existing positions closed: 76
0% less funds holding
Funds holding: 535 → 534 (-1)
6% less repeat investments, than reductions
Existing positions increased: 180 | Existing positions reduced: 191
1.32% less ownership
Funds ownership: 103.62% → 102.3% (-1.3%)
19% less capital invested
Capital invested by funds: $13.6B → $11B (-$2.55B)
54% less call options, than puts
Call options by funds: $42.1M | Put options by funds: $91.6M
Top Buyers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
MP
Makaira Partners
La Jolla,
California
|
+$48.5M |
| 2 |
ACM
AKRE Capital Management
Middleburg,
Virginia
|
+$34.5M |
| 3 |
CC
Cannell & Co
New York
|
+$31.1M |
| 4 |
Two Sigma Investments
New York
|
+$28.6M |
| 5 |
Squarepoint
New York
|
+$24.8M |
Top Sellers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
Harris Associates
Chicago,
Illinois
|
-$110M |
| 2 |
Manulife (Manufacturers Life Insurance)
Canada,
Ontario, Canada
|
-$92.7M |
| 3 |
Wellington Management Group
Boston,
Massachusetts
|
-$75M |
| 4 |
Principal Financial Group
Des Moines,
Iowa
|
-$72.6M |
| 5 |
Bank of America
Charlotte,
North Carolina
|
-$48.2M |
KMX Hedge Fund Activity: Q4 2018 in Review
534 of the 4,489 institutional investors tracked by Wall St. Rank reported a position in CarMax (KMX) for Q4 2018, worth a combined $11B — down 19% from $13.6B a quarter earlier.
Buyers outnumbered sellers: 79 funds opened new KMX positions and 76 closed out — a net gain of 3 holders — while 180 added to existing stakes and 191 trimmed.
The largest buyer was Makaira Partners, opening a new position worth an estimated $48.5M. The largest seller was Harris Associates, cutting an estimated $110M.
- 534 institutional investors held CarMax (KMX) as of Q4 2018, down from 535 in Q3 2018.
- Funds reported $11B of CarMax stock for Q4 2018, down 19% quarter-over-quarter.
- 79 funds opened new CarMax positions in Q4 2018 and 76 closed out, a net change of +3 holders.
- The largest CarMax buyer in Q4 2018 was Makaira Partners, an estimated $48.5M added.
- The largest CarMax seller in Q4 2018 was Harris Associates, an estimated $110M sold.
Based on aggregated 13F filings for Q4 2018.