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KMX in the 13F filings

Carmax Inc · CUSIP 143130102

Sector · Consumer discretionary
Quarter
Q3 2026 · early filersQ2 2026Q1 2026Q4 2025Q3 2025Q2 2025Q1 2025Q4 2024Q3 2024Q2 2024Q1 2024Q4 2023
Quarter end
31 Mar 2025
the date the book describes
Filed
27 Aug 2025
latest of these filings; the earliest 2 May 2025
Managers listing it
23
at least, of 95 tracked, among listed positions
Comparable managers
95
filed both Q4 2024 and Q1 2025; 15 listed it in both
Shares listed
18,831,880
combined, among listed positions
Reported value
$1.5bn
combined, at the quarter end

Among the 95 comparable managers: 17 buyers (opened or added shares) and 5 sellers (trimmed or exited), at least, among listed positions. Their net change in shares is not known from listed positions, because at least one of them lists it in only one of the two quarters.

Managers listing KMX in Q1 2025

Share of 13F value is the position’s reported value over everything the manager reported that quarter. The share change is against Q4 2024, and only where both filings list the position. A rise in value with no rise in shares is the price, not buying.

23 of 23 holders

ActionFiling
Janus Henderson Group Ltd4,744,192$361m0.20%Added+72,24215 May 2025 (the filing on sec.gov)
Holocene Advisors LP3,366,823$262m0.77%Added+523,79815 May 2025 (the filing on sec.gov)
Marshall Wace LLP3,077,959$240m0.30%Added+2,388,46515 May 2025 (the filing on sec.gov)
AQR Capital Management LLC1,509,344$116m0.12%Added+109,33215 May 2025 (the filing on sec.gov)
Squarepoint Ops LLC1,223,280$95m0.12%Added+177,10027 Aug 2025 (the filing on sec.gov)
Millennium Management LLC1,081,826$84munder 0.1%Addedn.a.15 May 2025 (the filing on sec.gov)
Man Group PLC967,465$75m0.19%Added+324,70615 May 2025 (the filing on sec.gov)
Two Sigma Advisers LP872,400$68m0.15%Added+100,10015 May 2025 (the filing on sec.gov)
Two Sigma Investments LP632,625$49m0.11%Added+142,06115 May 2025 (the filing on sec.gov)
Akre Capital Management LLC205,275$16m0.15%Trimmed-462,16213 May 2025 (the filing on sec.gov)
Markel Group Inc136,500$11m0.09%Held02 May 2025 (the filing on sec.gov)
Walleye Capital LLC132,868$10munder 0.1%Addedn.a.14 May 2025 (the filing on sec.gov)
Baillie Gifford & Co126,428$9.9munder 0.1%Trimmed-40,8817 May 2025 (the filing on sec.gov)
Eisler Capital Management Ltd125,519$9.8m0.07%Addedn.a.14 May 2025 (the filing on sec.gov)
Freestone Grove Partners LP124,869$9.7m0.10%Trimmed-125,90815 May 2025 (the filing on sec.gov)
Tudor Investment Corp119,319$9.3munder 0.1%Addedn.a.15 May 2025 (the filing on sec.gov)
Schonfeld Strategic Advisors LLC118,778$9.3m0.06%Addedn.a.15 May 2025 (the filing on sec.gov)
Woodline Partners LP102,944$8.0m0.05%Addedn.a.15 May 2025 (the filing on sec.gov)
Maverick Capital Ltd79,042$6.2m0.11%Newnew15 May 2025 (the filing on sec.gov)
Quantbot Technologies LP48,984$3.8m0.12%Newnew13 May 2025 (the filing on sec.gov)
Winton Group Ltd15,490$1.2m0.07%Added+14115 May 2025 (the filing on sec.gov)
PDT Partners LLC13,670$1.1m0.08%Trimmed-12,03115 May 2025 (the filing on sec.gov)
Ruane Cunniff & Goldfarb LP6,280$489kunder 0.1%Trimmed-21,29115 May 2025 (the filing on sec.gov)

What managers have written about KMX

Shown because the letter names the company. A letter is commentary; it is not a record of why a position changed.

  • Starboard Value's letter to CarMax's incoming CEO10 Mar 2026 · Activist letter · Subject of the letter · Starboard Value LP’s 13F
    Before the letter
    31 Dec 2025 (Q4 2025 13F): not among Starboard Value LP’s listed positions. A holding below the listed range, under another security, or none at all would read the same.
    After the letter
    31 Mar 2026 (Q1 2026 13F): 6,201,362 shares, reported at $258m.

Every letter beside its positions →

Largest increases and reductions, by shares

Q4 2024 to Q1 2025, among managers that listed it in both quarters or opened it.

Increases

Reductions

New positions and exits

At least these many: a manager is shown exiting only where its own filing shows the position gone.

New (2)

Exited (0)

No exit shown by a manager’s own filing.

Ownership over time

Every quarter on file. A quarter-end value moves with the price as well as with the shares held; buyers and sellers count comparable managers, by shares.
17 in Q3 2024 to 12 in Q2 2026

Tracked managers listing it, at least.

01020302014201620182020202220242026
the quarter shown share split complete books; unmarked quarters rest on listed positionsClick a quarter to open it.
KMX by quarter
QuarterHoldersReported valueBuyersSellers
Q2 201314$2.6bnn.a.n.a.
Q3 201313$2.7bnn.a.n.a.
Q4 201310$2.5bnn.a.n.a.
Q1 201412$3.0bnn.a.n.a.
Q2 201411$3.3bnn.a.n.a.
Q3 201411$3.1bnn.a.n.a.
Q4 20148$4.2bnn.a.n.a.
Q1 201510$4.2bnn.a.n.a.
Q2 201514$3.5bnn.a.n.a.
Q3 201513$3.2bnn.a.n.a.
Q4 20159$3.1bnn.a.n.a.
Q1 20169$2.9bnn.a.n.a.
Q2 201612$2.9bnn.a.n.a.
Q3 201615$2.7bnn.a.n.a.
Q4 201612$3.5bnn.a.n.a.
Q1 201716$3.2bnn.a.n.a.
Q2 201716$3.5bnn.a.n.a.
Q3 201720$4.0bnn.a.n.a.
Q4 201721$2.9bnn.a.n.a.
Q1 201816$2.7bnn.a.n.a.
Q2 201820$3.2bnn.a.n.a.
Q3 201818$3.2bnn.a.n.a.
Q4 201821$2.5bnn.a.n.a.
Q1 201915$2.6bnn.a.n.a.
Q2 201922$3.2bnn.a.n.a.
Q3 201924$3.3bnn.a.n.a.
Q4 201922$3.1bnn.a.n.a.
Q1 202017$2.0bnn.a.n.a.
Q2 202014$3.5bnn.a.n.a.
Q3 202016$3.0bnn.a.n.a.
Q4 202017$3.3bnn.a.n.a.
Q1 202119$4.0bnn.a.n.a.
Q2 202116$3.9bnn.a.n.a.
Q3 202114$3.8bnn.a.n.a.
Q4 202115$4.3bnn.a.n.a.
Q1 202213$3.2bnn.a.n.a.
Q2 202211$2.8bnn.a.n.a.
Q3 20229$2.0bnn.a.n.a.
Q4 202213$2.1bnn.a.n.a.
Q1 202312$1.9bnn.a.n.a.
Q2 202313$2.3bnn.a.n.a.
Q3 202312$1.8bnn.a.n.a.
Q4 202317$2.0bn106
Q1 202418$2.2bn126
Q2 202418$1.6bn139
Q3 202417$1.0bn98
Q4 202419$1.3bn125
Q1 202523$1.5bn175
Q2 202519$1.3bn137
Q3 202511$650m65
Q4 202512$1.0bn1519
Q1 202612$1.4bn1815
Q2 202612$1.4bn2012

Compare with…

Holders over time, buyers and sellers, and the managers holding both, side by side for up to four stocks.

KMX and AMZN →KMX and TSLA →KMX and HD →Choose a stock to compare with KMX →

How much of the picture this is

A 13F is a manager’s long US-listed equity book at a quarter end, filed up to 45 days later. It shows no shorts, cash, bonds or performance, and it is never today’s portfolio. Large books are listed to their largest positions, so a manager missing from this table may still hold a small position below that line. These are 95 tracked managers, not the institutional market.

Which funds own KMX, latest filings →Back to the 13F Explorer →