Avis Budget Group

CAR • NASDAQ

Avis Budget Group is a rental & leasing services company in the industrials sector on NASDAQ, led by Brian J. Choi, with a market cap of $4.6B. As of Q3 2025, 123% of shares are held by 285 institutional investors, with SRS Investment Management, LLC as the largest holder at 49.53%.

Chief Executive OfficerBrian J. Choi

Market Cap$4.6B

Rental & Leasing Services

Industrials

Employees31.0K

Websiteavisbudgetgroup.com

Country

United States of America

Overview

Overview of institutional ownership in CAR as of Q3 2025 with a market cap of $5.7B

All Institutions

Institutions: 285
Value Held: $6.9B
Shares Held: 43.1M
Avg Position: $24.3M
Median Position: $467.4K

Hedge Funds

Hedge Funds: 41
Value Held: $3.5B
Shares Held: 22.0M
Avg Position: $86.2M
Median Position: $2.6M

Ownership Breakdown

Institutional (non-HF)

60.01%

$3.4B

Hedge Funds

62.55%

$3.5B

Retail & Other

Based on market cap of $5.7B as of Q3 2025. Institutional (non-HF) excludes hedge funds to avoid double counting.

Biggest Investors

Institutions with the largest positions in CAR as of Q3 2025

Institution	Key People	Position Value	Ownership	Owned Since	Total AUM (Long)
SRS Investment Management, LLC Hedge Fund•Long/Short	Karthik Ramakrishna Sarma Managing Partner	$2.8B 30.48% of portfolio	49.53% 17.4M shares	≤ Q2 2013 Held for 12y 5m+	$9.2B
Pentwater Capital Management LP Hedge Fund•Event Driven	Matthew Charles Halbower CEO	$507.9M 4.81% of portfolio	8.99% 3.2M shares	Q1 2024 Held for 1y 8m	$10.6B
UBS Group AG Institution	Sergio P. Ermotti CEO	$346.8M 0.07% of portfolio	6.14% 2.2M shares	Q4 2014 Held for 10y 11m	$511.54B
H HSBC HOLDINGS PLC Institution	-	$272.3M 0.16% of portfolio	4.84% 1.7M shares	Q3 2013 Held for 12y 2m	$169.01B
B BlackRock, Inc. Institution	-	$258.9M 0.00% of portfolio	4.58% 1.6M shares	≤ Q2 2013 Held for 12y 5m+	$5.67T
VANGUARD GROUP INC Institution	Salim Ramji CEO	$247.6M 0.00% of portfolio	4.38% 1.5M shares	≤ Q2 2013 Held for 12y 5m+	$6.69T
N NOMURA HOLDINGS INC Institution	-	$239.3M 1.30% of portfolio	4.23% 1.5M shares	Q4 2012 Held for 12y 11m	$18.4B
MORGAN STANLEY RIA/Wealth	Jed Finn CEO	$229.6M 0.01% of portfolio	4.06% 1.4M shares	≤ Q2 2013 Held for 12y 5m+	$1.65T
N NATIONAL BANK OF CANADA /FI/ Institution	-	$207.1M 0.23% of portfolio	3.67% 1.3M shares	Q4 2021 Held for 3y 11m	$88.3B
BANK OF AMERICA CORP /DE/ Institution	Brian T. Moynihan CEO	$195.5M 0.01% of portfolio	3.46% 1.2M shares	≤ Q2 2013 Held for 12y 5m+	$1.33T

Net Capital Flow

Institutional buying and selling activity for CAR in Q3 2025

Traded: +$614.7M
Buyers: 153
Sellers: 127
Total Bought: +$1.0B
Total Sold: −$397.4M
Avg Position: $21.1M

Biggest Buyers

Institution	Net Bought	Current Position
Pentwater Capital Management LP Hedge Fund•Event Driven	+$143.4M +893.0K shares	$507.9M 3.2M shares
BANK OF AMERICA CORP /DE/ Institution	+$142.2M +885.4K shares	$195.5M 1.2M shares
I ING GROEP NV Institution	+$135.4M +843.4K shares	$166.2M 1.0M shares
N NOMURA HOLDINGS INC Institution	+$68.9M +429.4K shares	$239.3M 1.5M shares
N NATIONAL BANK OF CANADA /FI/ Institution	+$65.8M +409.8K shares	$207.1M 1.3M shares
C CIBC World Markets Inc. Institution	+$64.2M +400.0K shares	$64.2M 400.0K shares
H HEALTHCARE OF ONTARIO PENSION PLAN TRUST FUND Institution	+$39.0M +243.0K shares	$39.0M 243.0K shares
VOLORIDGE INVESTMENT MANAGEMENT, LLC Hedge Fund•Multi-Strategy	+$33.8M +210.3K shares	$41.1M 256.2K shares
UBS Group AG Institution	+$33.5M +208.8K shares	$346.8M 2.2M shares
BANK OF MONTREAL /CAN/ Institution	+$24.1M +149.9K shares	$24.5M 152.5K shares

Biggest Sellers

Institution	Net Sold	Current Position
M Maple Rock Capital Partners, Inc. Hedge Fund•Multi-Strategy	−$70.3M −415.6K shares	Sold Off 0 shares
D D. E. Shaw & Co., Inc. Institution	−$54.6M −340.0K shares	$45.1M 281.1K shares
TWO SIGMA INVESTMENTS LLC Hedge Fund•Multi-Strategy	−$44.2M −275.0K shares	$10.5M 65.1K shares
BARCLAYS PLC Institution	−$35.7M −222.5K shares	$4.3M 26.9K shares
GOLDMAN SACHS GROUP INC Institution	−$31.4M −195.4K shares	$20.4M 127.1K shares
C Capital World Investors Institution	−$27.7M −163.7K shares	Sold Off 0 shares
P PAR CAPITAL MANAGEMENT INC Hedge Fund•Long/Short	−$19.3M −120.0K shares	$32.1M 200.0K shares
B BlackRock, Inc. Institution	−$8.8M −55.0K shares	$258.9M 1.6M shares
SRS Capital Advisors, Inc. RIA/Wealth	−$6.3M −175.4K shares	Sold Off 0 shares
VANGUARD GROUP INC Institution	−$6.0M −37.2K shares	$247.6M 1.5M shares

Entry and Exit Activity

Institutions that initiated new positions or completely exited CAR in Q3 2025

New Positions: 13
New Value: $4.8M
Exited Positions: 43
Exited Value: $153.8M

New Positions

Institution	Position Value
U Universal- Beteiligungs- und Servicegesellschaft mbH Institution	$2.7M 17.0K shares
WEST MICHIGAN ADVISORS, LLC RIA/Wealth	$532.6K 3.3K shares
B Baader Bank INC Institution	$415.5K 2.6K shares
P Polymer Capital Management LLC Hedge Fund•Multi-Strategy	$413.6K 2.6K shares
F Farringdon Capital, Ltd. Institution	$245.8K 1.5K shares
Pinkerton Retirement Specialists, LLC RIA/Wealth	$217.7K 1.4K shares
CENTAURUS FINANCIAL, INC. RIA/Wealth	$207.6K 1.3K shares
LRI Investments, LLC RIA/Wealth	$24.1K 150.0 shares
Sontag Advisory, LLC RIA/Wealth	$14.5K 90.0 shares
R Root Financial Partners, LLC RIA/Wealth	$11.6K 72.0 shares

Exited Positions

Institution	Previous Position
M Maple Rock Capital Partners, Inc. Hedge Fund•Multi-Strategy	$70.3M 415.6K shares
C Capital World Investors Institution	$27.7M 163.7K shares
SRS Capital Advisors, Inc. RIA/Wealth	$6.3M 175.4K shares
Marshall Wace LLP Institution	$5.7M 33.8K shares
VR Advisory Services Ltd Hedge Fund•Distressed	$4.2M 25.0K shares
Think Investments LP Hedge Fund•Long/Short	$4.2M 24.9K shares
ALGERT COLDIRON INVESTORS LLC Hedge Fund•Quant	$4.1M 24.3K shares
Adviser Investments LLC Family Office	$3.7M 21.8K shares
M Man Group plc Institution	$3.0M 17.6K shares
V Virtu Financial LLC Institution	$2.7M 15.7K shares

Options Activity

Institutions with the largest Call and Put options positions in CAR as of Q3 2025

Call Positions: 29
Call Value: $1.9B
Put Positions: 37
Put Value: $2.4B

Call Positions

Institution	Position Value
J JANE STREET GROUP, LLC Institution	$350.2M 21.8K contracts
SUSQUEHANNA INTERNATIONAL GROUP, LLP Private Equity	$347.2M 21.6K contracts
Walleye Trading LLC RIA/Wealth	$254.5M 15.8K contracts
CITADEL ADVISORS LLC Hedge Fund•Multi-Strategy	$223.9M 13.9K contracts
GOLDMAN SACHS GROUP INC Institution	$183.2M 11.4K contracts
N NOMURA HOLDINGS INC Institution	$123.0M 7.7K contracts
D D. E. Shaw & Co., Inc. Institution	$94.7M 5.9K contracts
S Squarepoint Ops LLC Hedge Fund•Quant	$83.4M 5.2K contracts
P PEAK6 LLC Institution	$73.5M 4.6K contracts
TUDOR INVESTMENT CORP ET AL Hedge Fund•Multi-Strategy	$44.3M 2.8K contracts

Put Positions

Institution	Position Value
Pentwater Capital Management LP Hedge Fund•Event Driven	$707.6M 44.1K contracts
SUSQUEHANNA INTERNATIONAL GROUP, LLP Private Equity	$403.1M 25.1K contracts
J JANE STREET GROUP, LLC Institution	$333.0M 20.7K contracts
CITADEL ADVISORS LLC Hedge Fund•Multi-Strategy	$237.7M 14.8K contracts
Walleye Trading LLC RIA/Wealth	$192.7M 12.0K contracts
GOLDMAN SACHS GROUP INC Institution	$141.4M 8.8K contracts
N NOMURA HOLDINGS INC Institution	$96.3M 6.0K contracts
L Lombard Odier Asset Management Corp Hedge Fund•Multi-Strategy	$55.4M 3.5K contracts
D D. E. Shaw & Co., Inc. Institution	$42.2M 2.6K contracts
P PEAK6 LLC Institution	$35.3M 2.2K contracts

Most Committed Institutions

Institutions with CAR as the highest % of their portfolio as of Q3 2025

Institution	Key People	Portfolio Weight	Ownership	Owned Since	Total AUM (Long)
SRS Investment Management, LLC Hedge Fund•Long/Short	Karthik Ramakrishna Sarma Managing Partner	30.48% $2.8B	49.53% 17.4M shares	≤ Q2 2013 Held for 12y 5m+	$9.2B
Pentwater Capital Management LP Hedge Fund•Event Driven	Matthew Charles Halbower CEO	4.81% $507.9M	8.99% 3.2M shares	Q1 2024 Held for 1y 8m	$10.6B
N NOMURA HOLDINGS INC Institution	-	1.30% $239.3M	4.23% 1.5M shares	Q4 2012 Held for 12y 11m	$18.4B
P PAR CAPITAL MANAGEMENT INC Hedge Fund•Long/Short	William David Moeykens President	0.95% $32.1M	0.57% 200.0K shares	Q2 2022 Held for 3y 5m	$3.4B
I ING GROEP NV Institution	-	0.90% $166.2M	2.94% 1.0M shares	Q3 2023 Held for 2y 2m	$18.5B
M MIZUHO MARKETS AMERICAS LLC Institution	-	0.85% $40.1M	0.71% 250.0K shares	Q1 2025 Held for 8 months	$4.7B
C Corton Capital Inc. Institution	-	0.83% $338.0K	0.01% 2.1K shares	Q3 2025 Held for 2 months	$40.6M
N Neo Ivy Capital Management Hedge Fund•Quant	Ranting Yao CIO	0.69% $2.8M	0.05% 17.5K shares	Q4 2024 Held for 11 months	$410.0M
I III Capital Management Hedge Fund•Multi-Strategy	Scott Lawrence Wyler CEO	0.37% $1.4M	0.03% 9.0K shares	Q4 2024 Held for 11 months	$388.1M
Quantbot Technologies LLC Hedge Fund•Quant	Paul Edward White CEO	0.33% $12.3M	0.22% 76.7K shares	Q1 2025 Held for 8 months	$3.7B

Hedge Fund Spotlight

Discover hedge funds investing in CAR

SRS Investment Management, LLC

Hedge Fund • Long/Short

Portfolio ManagerKarthik Ramakrishna Sarma

Portfolio Value: $9.2B
Positions: 28
Last Reported: Q3 2025

Sector Allocation

Position in Avis Budget Group

Market Value: $2.8B
Shares Held: 17.4M
Portfolio Weight: 30.48%
Owned Since: 2013-Q2

Top Holding	Sector	Market Value	Weight
1 Avis Budget Group CAR	Rental & Leasing Services Industrials	$2.8B	30.48%
2 Netflix NFLX	Entertainment Communication Services	$1.8B	19.82%
3 Nvidia NVDA	Semiconductors Technology	$597.7M	6.51%