CarMax
550 hedge funds and large institutions have $6.36B invested in CarMax in 2026 Q1 according to their latest regulatory filings, with 103 funds opening new positions, 180 increasing their positions, 189 reducing their positions, and 83 closing their positions.
30% more funds holding in top 10
Funds holding in top 10: 10 → 13 (+3)
24% more first-time investments, than exits
New positions opened: 103 | Existing positions closed: 83
9% more capital invested
Capital invested by funds: $5.83B → $6.36B (+$530M)
2% more funds holding
Funds holding: 538 → 550 (+12)
1.63% more ownership
Funds ownership: 106.39% → 108.02% (+1.6%)
5% less repeat investments, than reductions
Existing positions increased: 180 | Existing positions reduced: 189
15% less call options, than puts
Call options by funds: $141M | Put options by funds: $167M
Top Buyers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
SV
Starboard Value
New York
|
+$271M |
| 2 |
Two Sigma Investments
New York
|
+$104M |
| 3 |
AQR Capital Management
Greenwich,
Connecticut
|
+$93.3M |
| 4 |
Pacer Advisors
Malvern,
Pennsylvania
|
+$51.2M |
| 5 |
Goldman Sachs
New York
|
+$49.5M |
Top Sellers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
Diamond Hill Capital Management
Columbus,
Ohio
|
-$76.2M |
| 2 |
Arrowstreet Capital
Boston,
Massachusetts
|
-$68.5M |
| 3 |
AMH
Apollo Management Holdings
New York
|
-$39.5M |
| 4 |
VVP
Vulcan Value Partners
Birmingham,
Alabama
|
-$31.7M |
| 5 |
D.E. Shaw & Co
New York
|
-$31.6M |
KMX Hedge Fund Activity: Q1 2026 in Review
550 of the 8,187 institutional investors tracked by Wall St. Rank reported a position in CarMax (KMX) for Q1 2026, worth a combined $6.36B — up 9.1% from $5.83B a quarter earlier.
Buyers outnumbered sellers: 103 funds opened new KMX positions and 83 closed out — a net gain of 20 holders — while 180 added to existing stakes and 189 trimmed.
The largest buyer was Starboard Value, opening a new position worth an estimated $271M. The largest seller was Diamond Hill Capital Management, cutting an estimated $76.2M.
- 550 institutional investors held CarMax (KMX) as of Q1 2026, up from 538 in Q4 2025.
- Funds reported $6.36B of CarMax stock for Q1 2026, up 9.1% quarter-over-quarter.
- 103 funds opened new CarMax positions in Q1 2026 and 83 closed out, a net change of +20 holders.
- The largest CarMax buyer in Q1 2026 was Starboard Value, an estimated $271M added.
- The largest CarMax seller in Q1 2026 was Diamond Hill Capital Management, an estimated $76.2M sold.
Based on aggregated 13F filings for Q1 2026.