As part of the weekly research here at The Acquirer’s Multiple we’re always interested in superinvestors who hold the same stocks that appear in our Acquirer’s Multiple Stock Screeners, based on their latest 13F’s. Investors such as Warren Buffett, Joel Greenblatt, Carl Icahn, Jim Simons, Prem Watsa, Jeremy Grantham, Seth Klarman, Ray Dalio, and Howard Marks.
While doing this research we’ve also uncovered a number of stocks that superinvestors have sold, or reduced in their portfolios, according to their latest 13f’s. So we’re now providing a new weekly feature article called ‘One Stock Superinvestors Are Selling‘. This week we’ll take a look at:
CarMax, Inc (NYSE: KMX)
CarMax sells, finances, and services used and new cars through a chain of over 220 used retail stores at the end of fiscal 2021 plus one new-vehicle store. It was formed in 1993 as a unit of Circuit City and spun off into an independent company in late 2002. Used-vehicle sales account for about 83% of revenue and wholesale about 14%, with the remaining portion composed of extended service plans and repair. In fiscal 2021, the company retailed and wholesaled 751,862 and 426,268 used vehicles, respectively. CarMax is the largest used-vehicle retailer in the U.S. but still estimates that it has only about 3.5% U.S. market share of vehicles 0-10 years old. It seeks over 5% share by the end of calendar 2025. CarMax is based in Richmond, Virginia.
A quick look at the price chart below for CarMax shows us that the stock is up 45% in the past twelve months.
(Source: Morningstar)
Superinvestors who reduced, or sold out of CarMax include:
(Remaining shares)
Chuck Akre – 7,113,107
Bill Ruane – 6,726,194
Wally Weitz – 554,700
David Tepper – 415,000
John Rogers – 348,077
Israel Englander – 55,021
Paul Tudor Jones – 7,229
Ken Griffin – 2,862
Chuck Royce – 2,100
Jim O’Shaughnessy – 460
Dan Loeb – SOLD OUT
Jeremy Grantham – SOLD OUT
Louis Bacon – SOLD OUT
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