Carmax Inc: which funds bought and sold

Institutions that bought and sold Carmax shares in Q2 2026, from the holdings they reported to the SEC on Form 13F for March 31, 2026 and June 30, 2026.

Between March 31, 2026 and June 30, 2026, 217 institutions that filed 13F reports for both quarters added to or opened positions in Carmax, and 335 cut or closed them. Together they sold a net 6.1M shares, −4.1% on what they held at the start of the quarter. Active managers and hedge funds on our list were net sellers of 1.2M shares (−2.2%); index fund managers were net buyers of 232K shares (+0.6%). 83 opened a new position and 80 sold out entirely.

Bought, Q2 2026 217 institutions, 83 of them new holders Sold, Q2 2026 335 institutions, 80 of them sold out

Net change, all compared −6.1M shares (−4.1%)

Net change, active managers −1.2M shares (−2.2%), 33 bought, 35 sold

Buyers versus sellers

institutions compared, 624

217 bought 72 335 sold

Active managers and hedge funds 33 bought · 35 sold · −1.2M

Index fund managers 8 bought · 3 sold · +232K

Other institutions 176 bought · 297 sold · −5.1M

Biggest buyers

by change in shares held

Biggest buyers
Institution	Change in shares	Shares June 30, 2026	Value
Hawk Ridge Capital Management LP Hedge fund	+2.8M New position	2.8M	$150M
Canada Pension Plan Investment Board	+1.9M +693.8%	2.2M	$115M
American Century Companies Inc Active manager	+1.9M +133.7%	3.3M	$172M
Slate Path Capital LP Hedge fund	+1.8M New position	1.8M	$96.7M
Alyeska Investment Group, L.P. Hedge fund	+958K New position	958K	$50.7M
Dimensional Fund Advisors LP	+699K +16.4%	5.0M	$263M
Millennium Management LLC Hedge fund	+584K +44.4%	1.9M	$100M
Jane Street Group, LLC	+511K +111.7%	969K	$51.3M
Two Sigma Investments, LP Hedge fund	+485K +9.1%	5.8M	$308M
Balyasny Asset Management L.P. Hedge fund	+424K New position	424K	$22.4M
D. E. Shaw & Co., Inc. Hedge fund	+360K +12.3%	3.3M	$173M
Point72 Asset Management, L.P. Hedge fund	+340K New position	340K	$18M
Squarepoint Ops LLC Hedge fund	+305K New position	305K	$16.2M
State Street Corp Index funds	+271K +5.6%	5.2M	$273M
SRS Investment Management, LLC Hedge fund	+271K +4.8%	5.9M	$313M
Nuveen, LLC	+267K +94.3%	550K	$29.1M
Woodline Partners LP Hedge fund	+241K +31.5%	1.0M	$53.2M
Fideuram Asset Management (Ireland) Dac	+222K New position	222K	$9.1M
Capital Fund Management S.A. Hedge fund	+210K +813.2%	236K	$12.5M
Mount Capital Ltd	+174K +42.5%	585K	$30.9M

Biggest buyers, active managers and hedge funds
Institution	Change in shares	Shares June 30, 2026	Value
Hawk Ridge Capital Management LP Hedge fund	+2.8M New position	2.8M	$150M
American Century Companies Inc Active manager	+1.9M +133.7%	3.3M	$172M
Slate Path Capital LP Hedge fund	+1.8M New position	1.8M	$96.7M
Alyeska Investment Group, L.P. Hedge fund	+958K New position	958K	$50.7M
Millennium Management LLC Hedge fund	+584K +44.4%	1.9M	$100M
Two Sigma Investments, LP Hedge fund	+485K +9.1%	5.8M	$308M
Balyasny Asset Management L.P. Hedge fund	+424K New position	424K	$22.4M
D. E. Shaw & Co., Inc. Hedge fund	+360K +12.3%	3.3M	$173M
Point72 Asset Management, L.P. Hedge fund	+340K New position	340K	$18M
Squarepoint Ops LLC Hedge fund	+305K New position	305K	$16.2M

Biggest sellers

by change in shares held

Biggest sellers
Institution	Change in shares	Shares June 30, 2026	Value
AQR Capital Management LLC Hedge fund	−3.4M −34.2%	6.6M	$349M
Starboard Value LP Hedge fund	−3.0M −48.3%	3.2M	$170M
Apollo Management Holdings, L.P.	−2.2M −52.1%	2.0M	$105M
Vulcan Value Partners, LLC Active manager	−1.3M −58.6%	913K	$48.3M
Pacer Advisors, Inc.	−1.2M Sold out	0	—
Diamond Hill Capital Management, LLC (Investment Advisor) Active manager	−842K −34.1%	1.6M	$86.2M
Gotham Asset Management, LLC Hedge fund	−766K −77.8%	218K	$11.5M
UBS Group AG	−748K −46.3%	867K	$45.8M
Bank Of America Corp	−642K −38.1%	1.0M	$55.3M
Focus Partners Wealth	−476K −31.9%	1.0M	$53.8M
Davenport & Co LLC	−474K −77.0%	142K	$7.5M
Citadel Advisors LLC Hedge fund	−463K −95.5%	22K	$1.1M
Renaissance Technologies LLC Hedge fund	−381K −30.6%	864K	$45.7M
Morgan Stanley	−358K −14.1%	2.2M	$115M
Marshall Wace, LLP Hedge fund	−320K Sold out	0	—
Man Group PLC Hedge fund	−319K −63.6%	182K	$9.6M
Ieq Capital, LLC	−311K −50.0%	311K	$16.4M
Ameriprise Financial Inc	−268K −44.9%	329K	$17.4M
FMR LLC Active manager	−260K −56.2%	203K	$10.7M
Trexquant Investment LP Hedge fund	−232K −61.2%	147K	$7.8M

Biggest sellers, active managers and hedge funds
Institution	Change in shares	Shares June 30, 2026	Value
AQR Capital Management LLC Hedge fund	−3.4M −34.2%	6.6M	$349M
Starboard Value LP Hedge fund	−3.0M −48.3%	3.2M	$170M
Vulcan Value Partners, LLC Active manager	−1.3M −58.6%	913K	$48.3M
Diamond Hill Capital Management, LLC (Investment Advisor) Active manager	−842K −34.1%	1.6M	$86.2M
Gotham Asset Management, LLC Hedge fund	−766K −77.8%	218K	$11.5M
Citadel Advisors LLC Hedge fund	−463K −95.5%	22K	$1.1M
Renaissance Technologies LLC Hedge fund	−381K −30.6%	864K	$45.7M
Marshall Wace, LLP Hedge fund	−320K Sold out	0	—
Man Group PLC Hedge fund	−319K −63.6%	182K	$9.6M
FMR LLC Active manager	−260K −56.2%	203K	$10.7M

New positions

largest by value

Institution	Shares	Value June 30, 2026
Hawk Ridge Capital Management LPHedge fund	2.8M	$150M
Slate Path Capital LPHedge fund	1.8M	$96.7M
Alyeska Investment Group, L.P.Hedge fund	958K	$50.7M
Balyasny Asset Management L.P.Hedge fund	424K	$22.4M
Point72 Asset Management, L.P.Hedge fund	340K	$18M
Squarepoint Ops LLCHedge fund	305K	$16.2M
Fideuram Asset Management (Ireland) Dac	222K	$9.1M
J. Goldman & Co LPHedge fund	116K	$6.1M
Varcov Co.	75K	$4M
Engineers Gate Manager LPHedge fund	67K	$3.5M

Sold out

largest by value

Institution	Shares	Value March 31, 2026
Pacer Advisors, Inc.	1.2M	$48.6M
Marshall Wace, LLPHedge fund	320K	$13.3M
Kirr Marbach & Co LLC	125K	$5.2M
Wedge Capital Management L L PActive manager	119K	$5M
Twinbeech Capital LP	109K	$4.5M
Fora Capital, LLC	71K	$3M
Inkwell Capital LLC	64K	$2.7M
Blueshift Asset Management, LLC	62K	$2.6M
Delta Global Management LP	53K	$2.2M
Aquatic Capital Management LLC	51K	$2.1M

Who holds the shares

13F holdings at June 30, 2026

Institutions reporting: 551
Ten largest holders: 46.3%
Index fund managers: 28.7%
Active managers and hedge funds: 35.4%

Buying and selling by type of institution, March 31, 2026 to June 30, 2026
Type	Bought	Sold	New	Sold out	Net change in shares	Net %
Active managers and hedge funds	33	35	14	7	−1.2M	−2.2%
Index fund managers	8	3	0	0	+232K	+0.6%
Other institutions	176	297	69	73	−5.1M	−9.7%

Active managers and hedge funds: a list we maintain of about 400 well-known stock-picking firms and hedge funds, matched by SEC registration number (CIK) and checked against the filer names each quarter. Index fund managers: the large index houses, such as BlackRock, Vanguard, State Street, Geode and Northern Trust. Every other filer (banks, brokers, wealth managers, pension funds, insurers and firms not on the list) counts as another institution. A firm that files under several SEC registrations appears once for each.

What these filings can and cannot tell you

Form 13F lists the long positions in US-listed shares held by investment managers with more than $100 million in such holdings. Managers file it up to 45 days after each quarter ends, so this page shows what funds held at the end of each quarter, not what they are doing now: a position may have changed since. Short positions, most derivatives and smaller managers are not included, and a cut can mean a fund lost clients or rebalanced rather than a view on Carmax.

Only managers that filed a holdings report for both quarters are compared (624 here). 16 other holders are left out: first-time or late filers, firms that changed their SEC registration, and filings that withheld positions under confidential treatment, any of which would otherwise look like a new position or a sale. Figures are as reported by each manager in the SEC's quarterly 13F data sets; option positions are excluded.

← Back to Carmax Inc · Insiders · Politicians