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CarMax
KMX

560 hedge funds and large institutions have $8.92B invested in CarMax in 2020 Q1 according to their latest regulatory filings, with 56 funds opening new positions, 183 increasing their positions, 239 reducing their positions, and 129 closing their positions.

New
Increased
Maintained
Reduced
Closed

26% more call options, than puts

Call options by funds: $90.2M | Put options by funds: $71.7M

1.04% more ownership

Funds ownership: 100.37% → 101.41% (+1%)

12% less funds holding

Funds holding: 638 → 560 (-78)

23% less repeat investments, than reductions

Existing positions increased: 183 | Existing positions reduced: 239

35% less funds holding in top 10

Funds holding in top 10: 34 → 22 (-12)

38% less capital invested

Capital invested by funds: $14.4B → $8.92B (-$5.52B)

57% less first-time investments, than exits

New positions opened: 56 | Existing positions closed: 129

Holders
560
Holders Change
-78
Holders Change %
-12.23%
% of All Funds
12.34%
Holding in Top 10
22
Holding in Top 10 Change
-12
Holding in Top 10 Change %
-35.29%
% of All Funds
0.48%
New
56
Increased
183
Reduced
239
Closed
129
Calls
$90.2M
Puts
$71.7M
Net Calls
+$18.5M
Net Calls Change
+$78.8M

Top Buyers

1
Janus Henderson Group
Janus Henderson Group
United Kingdom
+$208M
2
CIA
Caledonia Investments (Australia)
Australia
+$171M
3
ACM
AKRE Capital Management
Virginia
+$122M
4
RCG
Ruane, Cunniff & Goldfarb
New York
+$103M
5
SCA
Southpoint Capital Advisors
New York
+$72.7M

Top Sellers

1
PCM
Palestra Capital Management
New York
-$126M
2
D.E. Shaw & Co
D.E. Shaw & Co
New York
-$118M
3
MAM
Madison Asset Management
Wisconsin
-$64.4M
4
Wells Fargo
Wells Fargo
California
-$62.3M
5
Primecap Management
Primecap Management
California
-$52.7M
Name Holding Trade Value Shares
Change 		Change in
Stake
Vanguard Group
1
Vanguard Group
Pennsylvania
$994M +$25.5M +301,189 +2%
BlackRock
2
BlackRock
New York
$577M -$281K -3,316 -0%
Primecap Management
3
Primecap Management
California
$550M -$52.7M -622,860 -6%
RCG
4
Ruane, Cunniff & Goldfarb
New York
$493M +$103M +1,213,362 +15%
Principal Financial Group
5
Principal Financial Group
Iowa
$458M +$57.6M +680,460 +9%
ACM
6
AKRE Capital Management
Virginia
$441M +$122M +1,442,720 +21%
State Street
7
State Street
Massachusetts
$371M -$3.4M -40,172 -0.6%
Janus Henderson Group
8
Janus Henderson Group
United Kingdom
$268M +$208M +2,454,260 +97%
MG
9
Markel Group
Virginia
$264M – – –
T. Rowe Price Associates
10
T. Rowe Price Associates
Maryland
$166M -$23.6M -279,305 -8%
N
11
Nuveen
North Carolina
$159M +$5.04M +59,608 +2%
Invesco
12
Invesco
Georgia
$147M -$6.49M -76,734 -3%
Geode Capital Management
13
Geode Capital Management
Massachusetts
$138M +$4.6M +54,329 +2%
LCOV
14
London Company of Virginia
Virginia
$138M +$24.4M +288,410 +13%
Wellington Management Group
15
Wellington Management Group
Massachusetts
$132M -$7.3M -86,227 -3%
BRIM
16
Broad Run Investment Management
Virginia
$127M -$19.3M -227,745 -9%
Brown Advisory
17
Brown Advisory
Maryland
$119M +$19.6M +231,822 +12%
CIA
18
Caledonia Investments (Australia)
Australia
$109M +$171M +2,021,438 New
Northern Trust
19
Northern Trust
Illinois
$98.6M -$951K -11,235 -0.6%
Bank of America
20
Bank of America
North Carolina
$92.6M +$15M +176,941 +11%
DC
21
Davenport & Co
Virginia
$84.2M -$15.6M -183,906 -11%
Dimensional Fund Advisors
22
Dimensional Fund Advisors
Texas
$82.4M -$2.16M -25,507 -2%
DDC
23
DF Dent & Co
Maryland
$80.7M -$1.66M -19,618 -1%
Wells Fargo
24
Wells Fargo
California
$74.2M -$62.3M -736,013 -35%
Baird Financial Group
25
Baird Financial Group
Wisconsin
$73.1M +$5.86M +69,231 +5%
1
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KMX Hedge Fund Activity: Q1 2020 in Review

560 of the 4,538 institutional investors tracked by Wall St. Rank reported a position in CarMax (KMX) for Q1 2020, worth a combined $8.92B — down 38% from $14.4B a quarter earlier.

Sellers outnumbered buyers: 129 funds closed out of KMX and 56 opened new positions — a net loss of 73 holders — while 239 trimmed existing stakes and 183 added.

The largest buyer was Janus Henderson Group, adding an estimated $208M. The largest seller was Palestra Capital Management, exiting entirely with an estimated $126M sold.

  • 560 institutional investors held CarMax (KMX) as of Q1 2020, down from 638 in Q4 2019.
  • Funds reported $8.92B of CarMax stock for Q1 2020, down 38% quarter-over-quarter.
  • 56 funds opened new CarMax positions in Q1 2020 and 129 closed out, a net change of -73 holders.
  • The largest CarMax buyer in Q1 2020 was Janus Henderson Group, an estimated $208M added.
  • The largest CarMax seller in Q1 2020 was Palestra Capital Management, an estimated $126M sold.

Based on aggregated 13F filings for Q1 2020.