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HomeStocksKMXInstitutional Holders

KMX logoCarMax, Inc. (KMX) Institutional Ownership

Q2 2026 13F Data|Updated 2026-11-07

✨

Institutional ownership decreased this quarter (-4.48 pp), representing a broadly distributed shareholder base.

Institutional Ownership
Can exceed 100% due to securities lending, short interest, and reporting timing differences.
107.7%$8.0B total value · ▼ 4.48 pp vs prior quarter
Smart Money Score
Based on ownership concentration, fund quality, buying/selling activity, ownership indicators, and institutional trend.
51 / 100Neutral
Institutions & Flow561 holders+5 net flow (+84 / -79)

AI Insights & Key Takeaways

  • Positive Institutional Flow (+5)
  • Marquee funds including Two Sigma Investments, Lp and Millennium Management Llc maintain significant positions
  • Top 10 holders control 45.2% of institutional value
  • Insiders Buying

Top Institutional Holders of KMX

Ranked by reported Q2 2026 13F market value

Top 10 Holders
45.2%
Top 25 Holders
69.9%

Share of total reported institutional value in KMX held by the largest 10 / 25 filers.

#InstitutionShares HeldMarket ValueQoQ ChangeOwnership %% of Fund
1BlackRock, Inc.17.1M$904.0M-1.0%12.044%0.01%
2VANGUARD PORTFOLIO MANAGEMENT LLC7.3M$385.4M+0.1%5.135%0.02%
3AQR CAPITAL MANAGEMENT LLC6.6M$349.0M-34.2%4.667%

Quarterly Institutional Activity

Filings activity in KMX during Q2 2026, grouped by how each filer changed its position.

OverviewNew Buyers84Added To333Trimmed126Exited79
  • HAWK RIDGE CAPITAL MANAGEMENT LP$149.9M
  • Slate Path Capital LP$96.7M
  • Alyeska Investment Group, L.P.

KMX Institutional Ownership by Quarter

8 quarters of 13F filings · Δ columns show change vs prior quarter

QuarterInst. HoldersΔ HoldersOwnership %Δ OwnershipTotal 13F ValueΔ Value
Q2 2026561+2.0%107.75%4.48 pp$7.99B+23%
Q1 2026550+3.2%112.23%+1.63 pp$6.49B+9.7%
Q4 202553314%110.60%+7.61 pp$5.92B12%
Q3 202561814%102.99%1.96 pp$6.72B36%
Q2 20257211.8%104.95%+2.13 pp$10.41B13%
Q1 2025734

Recent Insider Activity in KMX

Latest Form 4 transactions by company officers and directors. Insider buys are widely viewed as a key fundamental indicator because executives are risking personal capital.

DateInsiderActionSharesPriceValue
Jun 25, 2026Chawla Sona Buy2K$53.39$107K
Jun 25, 2026Shinder Marcella Buy574$52.01$30K
Jun 24, 2026ONeil Mark F Buy5K$52.36$251K
Jun 22, 2026Barr Keith Buy9K$53.01$498K
Jun 22, 2026Bensen Peter J Buy

KMX — Frequently Asked Questions

Quick answers to the most common questions about buying KMX stock.

What percentage of KMX is owned by institutions?

Based on Q2 2026 13F filings, institutional ownership of CarMax, Inc. stands at 107.7%, held across 561 reporting institutions.

Who is the largest institutional holder of KMX?

BlackRock, Inc. is the largest reported institutional holder of KMX, with approximately 17,092,089 shares worth $0.90B as of Q2 2026.

Is KMX a hedge fund favorite?

Yes — 3 widely-followed marquee investors appear among the top 25 institutional holders of KMX, including TWO SIGMA INVESTMENTS, LP, MILLENNIUM MANAGEMENT LLC, SUSQUEHANNA INTERNATIONAL GROUP, LLP.

What is KMX's Smart Money Score?

Our composite Smart Money Score for KMX is 51 out of 100 (Neutral). It combines net institutional buying activity, ownership shift, marquee investor presence, and holder-count growth.

How many institutions bought KMX this quarter?
0.12%
4VANGUARD CAPITAL MANAGEMENT LLC6.4M$339.6M+0.5%4.524%0.01%
5SRS Investment Management, LLC5.9M$313.3M+4.8%4.174%2.90%
6TWO SIGMA INVESTMENTS, LP5.8M$309.4M+9.2%4.122%0.22%
7STATE STREET CORP5.2M$272.7M+5.5%3.633%0.00%
8DIMENSIONAL FUND ADVISORS LP5.0M$263.1M+16.4%3.506%0.05%
9Jupiter Topco LLC4.6M$245.7M—3.273%0.10%
10PRIMECAP MANAGEMENT CO/CA/4.4M$230.5M+0.0%3.072%0.14%
11D. E. Shaw & Co., Inc.3.4M$181.8M+5.7%2.422%0.09%
12AMERICAN CENTURY COMPANIES INC3.3M$171.9M+133.7%2.290%0.08%
13Baird Financial Group, Inc.3.2M$169.6M+4.5%2.260%0.23%
14Starboard Value LP3.2M$169.6M-48.3%2.260%3.75%
15First Pacific Advisors, LP3.0M$159.1M+0.9%2.120%1.97%
16HAWK RIDGE CAPITAL MANAGEMENT LP2.8M$149.9M—1.997%4.81%
17GEODE CAPITAL MANAGEMENT, LLC2.6M$135.6M+0.4%1.807%0.01%
18MANUFACTURERS LIFE INSURANCE COMPANY, THE2.4M$128.0M+0.9%1.705%0.05%
19CANADA PENSION PLAN INVESTMENT BOARD2.2M$115.5M+693.8%1.538%0.06%
20MORGAN STANLEY2.2M$115.1M-14.1%1.534%0.01%
21Apollo Management Holdings, L.P.2.0M$105.1M-52.1%1.400%1.18%
22MILLENNIUM MANAGEMENT LLC1.9M$101.9M+37.3%1.357%0.04%
23Slate Path Capital LP1.8M$96.7M—1.288%1.34%
24SUSQUEHANNA INTERNATIONAL GROUP, LLP1.7M$90.1M+8.0%1.200%0.01%
25GOLDMAN SACHS GROUP INC1.6M$86.4M+2.1%1.152%0.01%

denotes a marquee investor (Buffett, Burry, ARK, Tiger Global, Pershing Square, Baupost and other widely-followed managers). “% of Fund” shows how much of that investor’s total 13F portfolio is invested in KMX — a direct measure of their conviction.

$50.7M
  • BALYASNY ASSET MANAGEMENT L.P.$22.4M
  • Fideuram Asset Management (Ireland) dac$9.1M
  • J. Goldman & Co LP$6.1M
  • Alphadyne Asset Management LP$4.2M
  • VARCOV Co.$4.0M
  • Engineers Gate Manager LP$3.5M
  • Jefferies Financial Group Inc.$2.2M
  • Covalis Capital LLP$2.0M
  • BW Gestao de Investimentos Ltda.$1.8M
  • +0.8%
    102.82%
    3.33 pp
    $12.02B
    14%
    Q4 2024728+1.8%106.15%+2.70 pp$14.04B+17%
    Q3 2024715—103.45%—$11.99B—

    Source: SEC 13F institutional filings. Ownership % requires market cap data and will show once linked. Δ columns compare to the immediately prior filed quarter.

    3K
    $52.20
    $131K

    84 institutions opened new positions in KMX during Q2 2026, while 79 fully exited. 333 added to existing positions and 126 trimmed.

    How is institutional ownership of KMX changing?

    KMX institutional ownership fell by 4.48 percentage points quarter-over-quarter, with a net change of +11 holders.

    How concentrated is KMX ownership among the top holders?

    The top 10 institutions account for 45.2% of all reported 13F value in KMX, and the top 25 account for 69.9%.

    Where does this KMX institutional ownership data come from?

    All data is sourced from SEC Form 13F filings, which institutional investment managers with at least $100M in assets are required to file each quarter. We process every 13F filing from EDGAR and recompute the aggregates after each cycle. Insider transactions are sourced from Form 4 filings.

    KMXCarMax, Inc.
    $51.48$7.3B
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