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Penske Automotive Group
PAG

210 hedge funds and large institutions have $1.9B invested in Penske Automotive Group in 2014 Q2 according to their latest regulatory filings, with 51 funds opening new positions, 67 increasing their positions, 64 reducing their positions, and 13 closing their positions.

New
Increased
Maintained
Reduced
Closed

292% more first-time investments, than exits

New positions opened: 51 | Existing positions closed: 13

61% more call options, than puts

Call options by funds: $3.01M | Put options by funds: $1.87M

21% more funds holding

Funds holding: 173 → 210 (+37)

15% more capital invested

Capital invested by funds: $1.65B → $1.9B (+$253M)

5% more repeat investments, than reductions

Existing positions increased: 67 | Existing positions reduced: 64

0.05% more ownership

Funds ownership: 42.62% → 42.67% (+0.05%)

0% more funds holding in top 10

Funds holding in top 10: 1 → 1 (0)

Holders
210
Holders Change
+37
Holders Change %
+21.39%
% of All Funds
6.03%
Holding in Top 10
1
Holding in Top 10 Change
–
Holding in Top 10 Change %
–
% of All Funds
0.03%
New
51
Increased
67
Reduced
64
Closed
13
Calls
$3.01M
Puts
$1.87M
Net Calls
+$1.15M
Net Calls Change
+$260K

Top Buyers

Rank Fund Capital Flow
1
Norges Bank
Norges Bank
Norway
+$20.3M
2
AP
Alydar Partners
Massachusetts
+$20.2M
3
NI
Numeric Investors
Massachusetts
+$14.8M
4
FAM
Fred Alger Management
New York
+$12.4M
5
GIG
Goodnow Investment Group
Connecticut
+$8.92M

Top Sellers

Rank Fund Capital Flow
1
BFA
BlackRock Fund Advisors
California
-$34.8M
2
Capital Research Global Investors
Capital Research Global Investors
California
-$29.1M
3
SCM
Shapiro Capital Management
Georgia
-$26.9M
4
Northern Trust
Northern Trust
Illinois
-$19.5M
5
CCP
Clough Capital Partners
Massachusetts
-$14.4M
Name Holding Trade Value Shares
Change 		Change in
Stake
American Century Companies
26
American Century Companies
Missouri
$18.9M +$1.58M +34,631 +10%
TA
27
Teachers Advisors
New York
$18.8M +$531K +11,635 +3%
GH
28
GAM Holding
Switzerland
$18.6M – – –
AIM
29
Act II Management
New York
$17M -$1.02M -22,302 -6%
Principal Financial Group
30
Principal Financial Group
Iowa
$16.6M -$506K -11,079 -3%
PCM
31
Penn Capital Management
Pennsylvania
$16.6M -$1.16M -25,464 -7%
DKCM
32
Davidson Kempner Capital Management
New York
$16.1M +$4.47M +98,000 +43%
BFA
33
BlackRock Fund Advisors
California
$14.7M -$34.8M -762,057 -72%
Goldman Sachs
34
Goldman Sachs
New York
$14.3M +$7.5M +164,425 +133%
FAM
35
Fred Alger Management
New York
$13.5M +$12.4M +272,496 New
Millennium Management
36
Millennium Management
New York
$13.4M +$8.37M +183,486 +211%
EA
37
Emerald Advisers
Pennsylvania
$13.3M +$2.27M +49,827 +23%
Bank of New York Mellon
38
Bank of New York Mellon
New York
$11.4M -$3.3M -72,364 -24%
Geode Capital Management
39
Geode Capital Management
Massachusetts
$11.3M -$432K -9,467 -4%
BGIM
40
Brandywine Global Investment Management
Pennsylvania
$11.2M +$306K +6,700 +3%
TCIM
41
TIAA CREF Investment Management
New York
$10.5M -$186K -4,086 -2%
BA
42
BlackRock Advisors
Delaware
$10.2M +$148K +3,244 +2%
Royal Bank of Canada
43
Royal Bank of Canada
Ontario, Canada
$10.2M +$6.71M +147,002 +252%
Bank of America
44
Bank of America
North Carolina
$10M +$3.62M +79,396 +64%
EMFAT
45
Emerald Mutual Fund Advisers Trust
Pennsylvania
$9.86M +$2.97M +65,060 +49%
State of Wisconsin Investment Board
46
State of Wisconsin Investment Board
Wisconsin
$9.81M +$1.6M +35,130 +22%
GIG
47
Goodnow Investment Group
Connecticut
$9.68M +$8.92M +195,570 New
SCM
48
Sandler Capital Management
New York
$9.22M -$2.6M -57,000 -23%
Morgan Stanley
49
Morgan Stanley
New York
$8.92M +$5.6M +122,727 +214%
BCMNY
50
Buckingham Capital Management (New York)
New York
$8.03M +$7.4M +162,200 New
1
2
3 4 5

PAG Hedge Fund Activity: Q2 2014 in Review

210 of the 3,481 institutional investors tracked by Wall St. Rank reported a position in Penske Automotive Group (PAG) for Q2 2014, worth a combined $1.9B — up 15% from $1.65B a quarter earlier.

Buyers outnumbered sellers: 51 funds opened new PAG positions and 13 closed out — a net gain of 38 holders — while 67 added to existing stakes and 64 trimmed.

The largest buyer was Norges Bank, adding an estimated $20.3M. The largest seller was BlackRock Fund Advisors, cutting an estimated $34.8M.

  • 210 institutional investors held Penske Automotive Group (PAG) as of Q2 2014, up from 173 in Q1 2014.
  • Funds reported $1.9B of Penske Automotive Group stock for Q2 2014, up 15% quarter-over-quarter.
  • 51 funds opened new Penske Automotive Group positions in Q2 2014 and 13 closed out, a net change of +38 holders.
  • The largest Penske Automotive Group buyer in Q2 2014 was Norges Bank, an estimated $20.3M added.
  • The largest Penske Automotive Group seller in Q2 2014 was BlackRock Fund Advisors, an estimated $34.8M sold.

Based on aggregated 13F filings for Q2 2014.