TrueCar

TRUE • NASDAQ

TrueCar is a internet content & information company in the communication services sector on NASDAQ, led by Michael Darrow, with a market cap of $190.3M. As of Q3 2025, 72% of shares are held by 107 institutional investors, with Caledonia Investments Pty Ltd as the largest holder at 20.08%.

Interim President and Chief Executive OfficerMichael Darrow

Market Cap$190.3M

Internet Content & Information

Communication Services

Employees324.0

Websitetruecar.com

Country

United States of America

Overview

Overview of institutional ownership in TRUE as of Q3 2025 with a market cap of $162.7M

All Institutions

Institutions: 107
Value Held: $116.6M
Shares Held: 63.4M
Avg Position: $1.1M
Median Position: $63.7K

Hedge Funds

Hedge Funds: 17
Value Held: $46.1M
Shares Held: 25.0M
Avg Position: $2.7M
Median Position: $130.1K

Ownership Breakdown

Institutional (non-HF)

43.37%

$70.6M

Hedge Funds

28.3%

$46.1M

Retail & Other

28.32%

$46.1M

Based on market cap of $162.7M as of Q3 2025. Institutional (non-HF) excludes hedge funds to avoid double counting.

Biggest Investors

Institutions with the largest positions in TRUE as of Q3 2025

Institution	Key People	Position Value	Ownership	Owned Since	Total AUM (Long)
Caledonia Investments Pty Ltd Hedge Fund•Long/Short	David Brinton Scully Chairman	$32.7M 0.53% of portfolio	20.08% 17.8M shares	Q2 2016 Held for 9y 5m	$6.2B
U UNITED SERVICES AUTOMOBILE ASSOCIATION Institution	-	$14.7M 1.02% of portfolio	9.00% 8.0M shares	Q2 2014 Held for 11y 5m	$1.4B
B BlackRock, Inc. Institution	-	$12.6M 0.00% of portfolio	7.72% 6.8M shares	Q2 2015 Held for 10y 5m	$5.67T
VANGUARD GROUP INC Institution	Salim Ramji CEO	$8.1M 0.00% of portfolio	4.95% 4.4M shares	Q2 2014 Held for 11y 5m	$6.69T
Whetstone Capital Advisors, LLC Hedge Fund•Long/Short	David Alan Atterbury President	$6.2M 1.72% of portfolio	3.82% 3.4M shares	Q2 2025 Held for 5 months	$361.1M
ACADIAN ASSET MANAGEMENT LLC Long Only Manager	Gillian Morna Therese Savage CEO	$5.4M 0.01% of portfolio	3.30% 2.9M shares	Q1 2019 Held for 6y 8m	$51.5B
DIMENSIONAL FUND ADVISORS LP Long Only Manager	David Paul Butler CEO	$5.2M 0.00% of portfolio	3.21% 2.8M shares	Q3 2018 Held for 7y 2m	$466.32B
RENAISSANCE TECHNOLOGIES LLC Hedge Fund•Quant	Peter Fitzhugh Brown CEO	$3.8M 0.01% of portfolio	2.34% 2.1M shares	Q1 2019 Held for 6y 8m	$75.8B
GEODE CAPITAL MANAGEMENT LLC ETF Provider	David Kenneth Lane CEO	$3.4M 0.00% of portfolio	2.12% 1.9M shares	Q2 2014 Held for 11y 5m	$1.57T
STATE STREET CORP Institution	Ronald P. O'Hanley CEO	$3.3M 0.00% of portfolio	2.03% 1.8M shares	Q2 2014 Held for 11y 5m	$2.88T

Net Capital Flow

Institutional buying and selling activity for TRUE in Q3 2025

Traded: −$2.0M
Buyers: 48
Sellers: 43
Total Bought: +$8.6M
Total Sold: −$10.6M
Avg Position: $964.0K

Biggest Buyers

Institution	Net Bought	Current Position
Whetstone Capital Advisors, LLC Hedge Fund•Long/Short	+$4.4M +2.4M shares	$6.2M 3.4M shares
MILLENNIUM MANAGEMENT LLC Hedge Fund•Multi-Strategy	+$827.9K +450.0K shares	$877.9K 477.1K shares
CITADEL ADVISORS LLC Hedge Fund•Multi-Strategy	+$677.7K +368.3K shares	$677.7K 368.3K shares
ACADIAN ASSET MANAGEMENT LLC Long Only Manager	+$431.5K +234.5K shares	$5.4M 2.9M shares
J JANE STREET GROUP, LLC Institution	+$337.7K +183.5K shares	$406.4K 220.9K shares
D D. E. Shaw & Co., Inc. Institution	+$335.1K +182.1K shares	$1.9M 1.0M shares
GOLDMAN SACHS GROUP INC Institution	+$222.5K +120.9K shares	$858.2K 466.4K shares
SCHWAB CHARLES INVESTMENT MANAGEMENT INC Long Only Manager	+$216.4K +117.6K shares	$592.3K 321.9K shares
TWO SIGMA INVESTMENTS LLC Hedge Fund•Multi-Strategy	+$150.9K +82.0K shares	$150.9K 82.0K shares
A Assenagon Asset Management S.A. Institution	+$121.8K +66.2K shares	$343.5K 186.7K shares

Biggest Sellers

Institution	Net Sold	Current Position
CANNELL CAPITAL LLC Hedge Fund•Long/Short	−$7.3M −3.8M shares	Sold Off 0 shares
SPRINGBOK CAPITAL MANAGEMENT, LLC Fund of Funds	−$570.0K −300.0K shares	Sold Off 0 shares
UBS Group AG Institution	−$437.7K −237.9K shares	$869.4K 472.5K shares
Connective Capital Management, LLC Hedge Fund•Long/Short	−$396.1K −208.4K shares	Sold Off 0 shares
B BlackRock, Inc. Institution	−$288.0K −156.5K shares	$12.6M 6.8M shares
SUSQUEHANNA INTERNATIONAL GROUP, LLP Private Equity	−$268.1K −141.1K shares	Sold Off 0 shares
DIMENSIONAL FUND ADVISORS LP Long Only Manager	−$216.2K −117.5K shares	$5.2M 2.8M shares
PRICE T ROWE ASSOCIATES INC /MD/ Long Only Manager	−$157.4K −85.5K shares	$295.7K 160.7K shares
JPMORGAN CHASE & CO Institution	−$147.2K −80.0K shares	$203.6K 110.6K shares
$DEUTSCHE BANK AG\ logo$ DEUTSCHE BANK AG\ Institution	−$115.3K −60.7K shares	Sold Off 0 shares

Entry and Exit Activity

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

New Positions: 7
New Value: $62.3K
Exited Positions: 14
Exited Value: $8.9M

New Positions

Institution	Position Value
U Universal- Beteiligungs- und Servicegesellschaft mbH Institution	$28.6K 15.5K shares
HBK Sorce Advisory LLC Hedge Fund•Multi-Strategy	$19.2K 12.0K shares
Point72 Ltd RIA/Wealth	$5.9K 3.2K shares
P Point72 Asia Pte. Ltd. Institution	$5.6K 3.1K shares
O Optiver Holding B.V. Institution	$2.5K 1.4K shares
B Bare Financial Services, Inc Institution	$482.0 262.0 shares
R Root Financial Partners, LLC RIA/Wealth	$22.0 12.0 shares

Exited Positions

Institution	Previous Position
CANNELL CAPITAL LLC Hedge Fund•Long/Short	$7.3M 3.8M shares
SPRINGBOK CAPITAL MANAGEMENT, LLC Fund of Funds	$570.0K 300.0K shares
Connective Capital Management, LLC Hedge Fund•Long/Short	$396.1K 208.4K shares
SUSQUEHANNA INTERNATIONAL GROUP, LLP Private Equity	$268.1K 141.1K shares
$DEUTSCHE BANK AG\ logo$ DEUTSCHE BANK AG\ Institution	$115.3K 60.7K shares
Q Qube Research & Technologies Ltd Institution	$78.3K 41.2K shares
S SIMPLEX TRADING, LLC Institution	$53.7K 28.3K shares
K Kapitalo Investimentos Ltda Institution	$34.7K 18.3K shares
H HSBC HOLDINGS PLC Institution	$32.1K 16.8K shares
GSA CAPITAL PARTNERS LLP Hedge Fund•Quant	$31.9K 16.8K shares

Options Activity

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

Call Positions: 3
Call Value: $50.8K
Put Positions: 0
Put Value: -

Call Positions

Institution	Position Value
SUSQUEHANNA INTERNATIONAL GROUP, LLP Private Equity	$32.2K 175.0 contracts
CITADEL ADVISORS LLC Hedge Fund•Multi-Strategy	$18.6K 101.0 contracts
Walleye Trading LLC RIA/Wealth	- - contracts

Put Positions

Institution	Position Value
No put positions found

Most Committed Institutions

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

Institution	Key People	Portfolio Weight	Ownership	Owned Since	Total AUM (Long)
Whetstone Capital Advisors, LLC Hedge Fund•Long/Short	David Alan Atterbury President	1.72% $6.2M	3.82% 3.4M shares	Q2 2025 Held for 5 months	$361.1M
M Mill Road Capital Management LLC Private Equity	Thomas Edward Lynch Chairman	1.65% $3.2M	1.95% 1.7M shares	Q1 2023 Held for 2y 8m	$191.8M
U UNITED SERVICES AUTOMOBILE ASSOCIATION Institution	-	1.02% $14.7M	9.00% 8.0M shares	Q2 2014 Held for 11y 5m	$1.4B
Caledonia Investments Pty Ltd Hedge Fund•Long/Short	David Brinton Scully Chairman	0.53% $32.7M	20.08% 17.8M shares	Q2 2016 Held for 9y 5m	$6.2B
NOESIS CAPITAL MANGEMENT CORP RIA/Wealth	Nicolaas Bernardus Maria Letschert CEO	0.04% $230.0K	0.14% 125.0K shares	Q2 2024 Held for 1y 5m	$644.2M
Fairman Group, LLC RIA/Wealth	Shawn Paul Kindt Managing Partner	0.03% $38.8K	0.02% 21.1K shares	Q2 2025 Held for 5 months	$120.1M
S State of Wyoming Institution	-	0.01% $98.9K	0.06% 53.8K shares	Q4 2021 Held for 3y 11m	$879.7M
ACADIAN ASSET MANAGEMENT LLC Long Only Manager	Gillian Morna Therese Savage CEO	0.01% $5.4M	3.30% 2.9M shares	Q1 2019 Held for 6y 8m	$51.5B
OCCUDO QUANTITATIVE STRATEGIES LP Hedge Fund•Market Neutral	Ricky Xiaoxiao Shi Partner	0.01% $76.3K	0.05% 41.5K shares	Q4 2024 Held for 11 months	$821.7M
Cambria Investment Management, L.P. ETF Provider	Mebane Thadley Faber CEO	0.01% $126.3K	0.08% 66.5K shares	Q4 2024 Held for 11 months	$1.7B