CarMax
703 hedge funds and large institutions have $13.9B invested in CarMax in 2023 Q2 according to their latest regulatory filings, with 94 funds opening new positions, 227 increasing their positions, 253 reducing their positions, and 61 closing their positions.
54% more first-time investments, than exits
New positions opened: 94 | 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 → 703 (+32)
3.49% less ownership
Funds ownership: 108.44% → 104.95% (-3.5%)
10% less repeat investments, than reductions
Existing positions increased: 227 | Existing positions reduced: 253
41% less call options, than puts
Call options by funds: $301M | Put options by funds: $509M
Top Buyers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
Norges Bank
Oslo,
Norway
|
+$86.1M |
| 2 |
Corient Private Wealth
Miami,
Florida
|
+$63.2M |
| 3 |
Millennium Management
New York
|
+$40.3M |
| 4 |
Goldman Sachs
New York
|
+$25.7M |
| 5 |
Kovitz Investment Group Partners
Chicago,
Illinois
|
+$23.8M |
Top Sellers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
TCAM
Turtle Creek Asset Management
Toronto,
Ontario, Canada
|
-$56.7M |
| 2 |
Two Sigma Investments
New York
|
-$46.3M |
| 3 |
Invesco
Atlanta,
Georgia
|
-$45.5M |
| 4 |
DCM
Dorsal Capital Management
Redwood City,
California
|
-$45M |
| 5 |
Wellington Management Group
Boston,
Massachusetts
|
-$44.7M |
KMX Hedge Fund Activity: Q2 2023 in Review
703 of the 6,383 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: 94 funds opened new KMX positions and 61 closed out — a net gain of 33 holders — while 227 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.
- 703 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.
- 94 funds opened new CarMax positions in Q2 2023 and 61 closed out, a net change of +33 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.