AVIS BUDGET GROUP CAR
COM · Common Stock · CUSIP 053774105 · ISIN US0537741052
American rental car company
- IndustryServices-Auto Rental & Leasing (No Drivers)
- HeadquartersParsippany, NJ
- Founded2006
- Websiteavisbudgetgroup.com
- FilingsSEC EDGAR
* Summed across managers. Shares that two managers' reports both contain – a subsidiary's holdings that its parent's report includes too, or a sub-adviser's in its client's – are counted once ($3.0m this quarter). Holder counts are more reliable. Shares outstanding: 35.3m as of 2026-07-22, from the company's own SEC filing; the percentage can still exceed 100%: lent-out shares are counted by the lender and the buyer, and some reports overlap without saying so. Implied quarter-end price ≈ $147.84. Options: 25 managers hold calls ($804.1m notional), 41 hold puts ($1.1bn).
Trends to Q2 2026
Institutional holders
Managers reporting a position, each quarter
Numbers
| Quarter | Holders |
|---|---|
| Q3 2022 | 287 |
| Q4 2022 | 302 |
| Q1 2023 | 297 |
| Q2 2023 | 302 |
| Q3 2023 | 297 |
| Q4 2023 | 300 |
| Q1 2024 | 261 |
| Q2 2024 | 267 |
| Q3 2024 | 272 |
| Q4 2024 | 260 |
| Q1 2025 | 264 |
| Q2 2025 | 290 |
| Q3 2025 | 292 |
| Q4 2025 | 303 |
| Q1 2026 | 294 |
| Q2 2026 | 303 |
Buyers vs sellers
Managers adding to or starting a position, vs cutting or selling out
Numbers
| Quarter | Bought or added | Cut or sold out |
|---|---|---|
| Q3 2024 | 134 | 133 |
| Q4 2024 | 124 | 135 |
| Q1 2025 | 140 | 118 |
| Q2 2025 | 150 | 155 |
| Q3 2025 | 148 | 135 |
| Q4 2025 | 139 | 138 |
| Q1 2026 | 127 | 155 |
| Q2 2026 | 144 | 159 |
Calls vs puts
Options held, notional value, last 4 quarters. P/C = puts ÷ calls
Numbers
| Quarter | Calls | Puts | P/C |
|---|---|---|---|
| Q3 2025 | $2.3bn | $2.8bn | 1.21 |
| Q4 2025 | $1.2bn | $1.5bn | 1.23 |
| Q1 2026 | $312.2m | $450.9m | 1.44 |
| Q2 2026 | $804.1m | $1.1bn | 1.38 |
Biggest buyers
| NOMURA HOLDINGS INC | Added | +1.1m |
| SG Americas Securities, LLC | Added | +720.5k |
| NATIONAL BANK OF CANADA /FI/ | Added | +573.0k |
| Allianz Asset Management GmbH | Added | +360.4k |
| Nearwater Capital Markets, Ltd | New | +235.0k |
| RENAISSANCE TECHNOLOGIES LLC | New | +211.0k |
| Amundi | Added | +170.2k |
| BANK OF NOVA SCOTIA | Added | +156.8k |
| MIZUHO MARKETS AMERICAS LLC | Added | +100.0k |
| GOLDMAN SACHS GROUP INC | Added | +92.2k |
Biggest sellers
| Pentwater Capital Management LP | Reduced | -4.5m |
| UBS Group AG | Reduced | -1.8m |
| BANK OF AMERICA CORP /DE/ | Reduced | -1.4m |
| ING GROEP NV | Sold out | -1.2m |
| Hudson Bay Capital Management LP | Sold out | -500.0k |
| DIMENSIONAL FUND ADVISORS LP | Reduced | -272.8k |
| Assenagon Asset Management S.A. | Reduced | -243.0k |
| BNP PARIBAS FINANCIAL MARKETS | Reduced | -217.2k |
| FMR LLC | Reduced | -206.9k |
| PAR CAPITAL MANAGEMENT INC | Sold out | -200.0k |
Biggest calls
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | Added | $217.9m1.5m shares |
| JANE STREET GROUP, LLC | Added | $171.5m1.2m shares |
| NOMURA HOLDINGS INC | New | $147.8m1.0m shares |
| IMC-Chicago, LLC | Added | $89.6m605.9k shares |
| CITADEL ADVISORS LLC | Added | $63.7m430.9k shares |
| Walleye Trading LLC | Added | $19.7m133.1k shares |
| D. E. Shaw & Co., Inc. | Reduced | $19.1m128.9k shares |
| GROUP ONE TRADING LLC | Reduced | $11.8m79.8k shares |
| Point72 Asset Management, L.P. | Added | $11.1m75.1k shares |
| SIMPLEX TRADING, LLC | Added | $10.7m72.5k shares |
Biggest puts
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | Added | $230.5m1.6m shares |
| JANE STREET GROUP, LLC | Added | $210.5m1.4m shares |
| NOMURA HOLDINGS INC | New | $147.8m1.0m shares |
| CITADEL ADVISORS LLC | Added | $114.6m774.9k shares |
| IMC-Chicago, LLC | Added | $111.3m753.1k shares |
| GROUP ONE TRADING LLC | Added | $39.9m270.0k shares |
| LMR Partners LLP | Added | $39.6m267.7k shares |
| PEAK6 LLC | Added | $27.3m184.4k shares |
| Walleye Trading LLC | Added | $21.9m147.9k shares |
| Point72 Asset Management, L.P. | Added | $19.6m132.3k shares |
Options at notional value: the value of the shares the contracts control, as filers report them, not what the options cost. Not included in the holders, shares or buying above.
Major shareholders (over 5%)
Anyone who owns more than 5% of a class of the company's shares has to say so: on Schedule 13D if they may try to influence or control the company, on 13G if they're a passive investor, and update it as the stake changes. Each holder's latest filing, from 19 Dec 2024 on; percentages are of the share class, as the holder worked them out.
| Holder | Stake |
|---|---|
| Pentwater Capital Management LP 13G · institution -14.9 pts · filed 2026-05-07 | 7.3% |
| MORGAN STANLEY 13G · institution new · filed 2026-02-11 | 5.6% |
Fell to 5% or below in the last year: JANE STREET GROUP, LLC (0.2%, 2026-05-11), NOMURA HOLDINGS INC (1.8%, 2026-02-17), SUSQUEHANNA SECURITIES, LLC (3.6%, 2026-02-13)
Insider purchases and sales since 1 Apr 2026
Shares bought or sold by the company's own officers, directors and 10% owners, in the open market or privately, as they reported to the SEC on Form 4 (due within two business days of the trade). Grants, option exercises, shares withheld for tax and gifts aren't included.
Officers and directors buying vs selling
Number of people, by quarter (10% owners not included)
Numbers
| Quarter | Buying | Bought | Selling | Sold | Sold under a plan |
|---|---|---|---|---|---|
| Q4 2024 | 0 | — | 0 | — | — |
| Q1 2025 | 0 | — | 1 | $196.3k | — |
| Q2 2025 | 0 | — | 0 | — | — |
| Q3 2025 | 0 | — | 2 | $64.5m | — |
| Q4 2025 | 0 | — | 0 | — | — |
| Q1 2026 | 0 | — | 1 | $178.5k | — |
| Q2 2026 | 0 | — | 2 | $2.4m | — |
| Q3 2026 | 0 | — | 1 | $652.6k | — |
| Date | Insider | Trade | Value |
|---|---|---|---|
| 2026-08-07 | Simhambhatla Ravi EVP, CDIO - see remarks | Sold | $652.6k4.7k shares |
| 2026-04-30 | Linnen Edward P EVP, Chief HR Officer | Sold | $1.7m9.5k shares |
| 2026-04-30 | Simhambhatla Ravi EVP, CDIO - see remarks | Sold | $638.6k3.5k shares |
| 2026-04-23 | Pentwater Capital Management LP +1 10% owner · Pentwater Merger Arbitrage Master Fund Ltd. | Sold | $289.3m1.0m shares |
| 2026-04-23 | Pentwater Capital Management LP +1 10% owner · Pentwater Merger Arbitrage Master Fund Ltd. | Sold | $223.1m843.2k shares |
| 2026-04-23 | Pentwater Capital Management LP +1 10% owner · Pentwater Equity Opportunities Master Fund Ltd. | Sold | $107.4m393.9k shares |
| 2026-04-23 | Pentwater Capital Management LP +1 10% owner · Crown Managed Accounts SPC acting for and on behalf of Crown/PW Segregated Portfolio | Sold | $52.8m193.5k shares |
| 2026-04-23 | Pentwater Capital Management LP +1 10% owner · Oceana Master Fund Ltd. | Sold | $48.9m184.7k shares |
| 2026-04-23 | Pentwater Capital Management LP +1 10% owner · Pentwater Credit Master Fund Ltd. | Sold | $9.5m34.9k shares |
| 2026-04-23 | Pentwater Capital Management LP +1 10% owner · LMA SPC for and on behalf of the MAP 98 Segregated Portfolio | Sold | $1.5m5.6k shares |
| 2026-04-22 | Pentwater Capital Management LP +1 10% owner · Pentwater Merger Arbitrage Master Fund Ltd. | Sold | $1.5m3.3k shares |
Their holding: how much the trade added to or took from the insider's holding (direct, or the trust or fund named). The same trade is sometimes reported by more than one insider, such as a fund and the director who represents it; totals count it once. A value is left blank where the reported price is far from the market price (usually a typo).
Holders, Q2 2026
| Manager | Shares | Change |
|---|---|---|
| SRS Investment Management, LLC 24.12% of their portfolio | 17.4m $2.6bn | Unchanged |
| UBS Group AG 0.06% of their portfolio | 2.5m $375.0m | Reduced -1.8m |
| Pentwater Capital Management LP 2.97% of their portfolio | 2.5m $371.5m | Reduced -4.5m |
| MORGAN STANLEY 0.02% of their portfolio | 2.0m $300.1m | Reduced -87.8k |
| HSBC HOLDINGS PLC 0.12% of their portfolio | 1.7m $247.8m | Reduced -25.7k |
| BlackRock, Inc. 0.00% of their portfolio | 1.7m $245.4m | Added +1.1k |
| NOMURA HOLDINGS INC 1.00% of their portfolio | 1.6m $237.2m | Added +1.1m |
| NATIONAL BANK OF CANADA /FI/ 0.18% of their portfolio | 1.4m $208.8m | Added +573.0k |
| VANGUARD CAPITAL MANAGEMENT LLC 0.00% of their portfolio | 788.7k $116.6m | Added +61.8k |
| VANGUARD PORTFOLIO MANAGEMENT LLC 0.01% of their portfolio | 756.4k $111.8m | Added +47.0k |
| SG Americas Securities, LLC 0.06% of their portfolio | 722.1k $106.7m | Added +720.5k |
| STATE STREET CORP 0.00% of their portfolio | 613.6k $90.7m | Reduced -53.6k |
| Allianz Asset Management GmbH 0.09% of their portfolio | 558.9k $82.6m | Added +360.4k |
| CIBC Bancorp USA Inc. 0.09% of their portfolio | 500.2k $73.9m | Reduced -199.9k |
| CIBC WORLD MARKET INC. 0.12% of their portfolio | 500.0k $73.9m | Reduced -200.0k |
| MIZUHO MARKETS AMERICAS LLC 1.33% of their portfolio | 500.0k $73.9m | Added +100.0k |
| NATIXIS 0.27% of their portfolio | 384.9k $56.9m | Added +44.8k |
| GEODE CAPITAL MANAGEMENT, LLC 0.00% of their portfolio | 355.1k $52.5m | Added +4.3k |
| DISCOVERY CAPITAL MANAGEMENT, LLC / CT 2.17% of their portfolio | 353.8k $52.3m | Reduced -194.8k |
| BANK OF NOVA SCOTIA 0.07% of their portfolio | 315.9k $46.7m | Added +156.8k |
| ROYAL BANK OF CANADA 0.01% of their portfolio | 269.0k $39.8m | Reduced -6.6k |
| GOLDMAN SACHS GROUP INC 0.00% of their portfolio | 258.2k $38.2m | Added +92.2k |
| Amundi 0.01% of their portfolio | 248.0k $36.7m | Added +170.2k |
| Nearwater Capital Markets, Ltd 0.60% of their portfolio | 235.0k $34.7m | New |
| CHARLES SCHWAB INVESTMENT MANAGEMENT INC 0.00% of their portfolio | 217.1k $32.1m | Reduced -2.4k |
| RENAISSANCE TECHNOLOGIES LLC 0.04% of their portfolio | 211.0k $31.2m | New |
| MACQUARIE GROUP LTD 0.12% of their portfolio | 194.9k $28.8m | Unchanged |
| NORTHERN TRUST CORP 0.00% of their portfolio | 148.6k $22.0m | Reduced -471 |
| Invesco Ltd. 0.00% of their portfolio | 133.1k $19.7m | Added +10.3k |
| NORGES BANK 0.00% of their portfolio | 115.6k $17.1m | Not comparable |
| VANGUARD FIDUCIARY TRUST CO 0.00% of their portfolio | 108.7k $16.1m | Added +3.9k |
| Bank of New York Mellon Corp 0.00% of their portfolio | 103.1k $15.2m | Reduced -38.4k |
| BANK OF AMERICA CORP /DE/ 0.00% of their portfolio | 90.3k $13.3m | Reduced -1.4m |
| DIMENSIONAL FUND ADVISORS LP 0.00% of their portfolio | 84.1k $12.4m | Reduced -272.8k |
| FMR LLC 0.00% of their portfolio | 81.5k $12.0m | Reduced -206.9k |
| FIRST TRUST ADVISORS LP 0.01% of their portfolio | 75.0k $11.1m | Added +54.8k |
| Assenagon Asset Management S.A. 0.01% of their portfolio | 72.6k $10.7m | Reduced -243.0k |
| BARCLAYS PLC 0.00% of their portfolio | 72.4k $10.7m | Reduced -158.4k |
| MUFG Securities EMEA plc 0.09% of their portfolio | 55.0k $8.1m | Reduced -145.0k |
| HENNESSY ADVISORS INC 0.26% of their portfolio | 54.1k $8.0m | New |
| Russell Investments Group, Ltd. 0.01% of their portfolio | 52.0k $7.7m | Added +49.5k |
| RHUMBLINE ADVISERS 0.01% of their portfolio | 50.0k $7.4m | Added +35 |
| UBS AM, a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC 0.00% of their portfolio | 48.8k $7.2m | Reduced -11.3k |
| LMR Partners LLP 0.04% of their portfolio | 41.4k $6.1m | New |
| Man Group plc 0.01% of their portfolio | 39.1k $5.8m | New |
| PRINCIPAL FINANCIAL GROUP INC 0.00% of their portfolio | 38.5k $5.7m | Added +730 |
| TUDOR INVESTMENT CORP ET AL 0.02% of their portfolio | 38.1k $5.6m | New |
| Squarepoint Ops LLC 0.01% of their portfolio | 37.9k $5.6m | New |
| Nuveen, LLC 0.00% of their portfolio | 37.9k $5.6m | Added +4.4k |
| JPMORGAN CHASE & CO 0.00% of their portfolio | 36.6k $5.8m | Added +10.5k |
| DEUTSCHE BANK AG\ 0.00% of their portfolio | 34.3k $5.1m | Reduced -93.6k |
| WELLS FARGO & COMPANY/MN 0.00% of their portfolio | 34.0k $5.0m | Reduced -23.6k |
| D. E. Shaw & Co., Inc. 0.00% of their portfolio | 33.3k $4.9m | Reduced -86.5k |
| Havemeyer Place LP 0.46% of their portfolio | 31.3k $4.6m | Added +18.9k |
| Quinn Opportunity Partners LLC 0.20% of their portfolio | 29.0k $4.3m | New |
| TWO SIGMA INVESTMENTS, LP 0.00% of their portfolio | 28.1k $4.2m | Added +13.2k |
| Quantinno Capital Management LP 0.00% of their portfolio | 26.1k $3.9m | Reduced -758 |
| ExodusPoint Capital Management, LP 0.03% of their portfolio | 24.9k $3.7m | Added +12.5k |
| Legal & General Group Plc 0.00% of their portfolio | 22.7k $3.4m | Reduced -4.3k |
| CANADA PENSION PLAN INVESTMENT BOARD 0.00% of their portfolio | 22.6k $3.3m | Unchanged |
| BNP PARIBAS FINANCIAL MARKETS 0.00% of their portfolio | 21.9k $3.2m | Reduced -217.2k |
| Walleye Trading LLC 0.04% of their portfolio | 21.6k $3.2m | Added +2.3k |
| Orion Porfolio Solutions, LLC 0.02% of their portfolio | 21.4k $3.2m | New |
| Swiss National Bank 0.00% of their portfolio | 21.3k $3.1m | Reduced -13.4k |
| JACOBS LEVY EQUITY MANAGEMENT, INC 0.01% of their portfolio | 20.6k $3.0m | New |
| PRICE T ROWE ASSOCIATES INC /MD/ 0.00% of their portfolio | 19.3k $2.9m | Added +1.1k |
| ALLIANCEBERNSTEIN L.P. 0.00% of their portfolio | 18.8k $2.7m | Added +594 |
| Retirement Systems of Alabama 0.01% of their portfolio | 17.5k $2.6m | Reduced -13.6k |
| AMERIPRISE FINANCIAL INC 0.00% of their portfolio | 16.8k $2.5m | Reduced -206 |
| Engineers Gate Manager LP 0.03% of their portfolio | 16.8k $2.5m | Added +9.5k |
| NEW YORK STATE TEACHERS RETIREMENT SYSTEM 0.00% of their portfolio | 14.4k $2.1m | Reduced -2.2k |
| Walleye Capital LLC 0.01% of their portfolio | 14.4k $2.1m | Added +14.4k |
| FLORIDA FINANCIAL ADVISORS, LLC 0.35% of their portfolio | 14.2k $2.1m | New |
| Edgestream Partners, L.P. 0.06% of their portfolio | 13.8k $2.0m | Reduced -28.0k |
| RAYMOND JAMES FINANCIAL INC 0.00% of their portfolio | 12.6k $1.9m | Added +10.7k |
| MANUFACTURERS LIFE INSURANCE COMPANY, THE 0.00% of their portfolio | 12.6k $1.9m | Reduced -3.2k |
| CALIFORNIA STATE TEACHERS RETIREMENT SYSTEM 0.00% of their portfolio | 12.2k $1.8m | Reduced -9.2k |
| STATE BOARD OF ADMINISTRATION OF FLORIDA RETIREMENT SYSTEM 0.00% of their portfolio | 12.1k $1.8m | Reduced -1.1k |
| VANGUARD ASSET MANAGEMENT, Ltd 0.00% of their portfolio | 11.8k $1.7m | Reduced -4.9k |
| Balyasny Asset Management L.P. 0.00% of their portfolio | 11.1k $1.6m | Added +4.2k |
| INTECH INVESTMENT MANAGEMENT LLC 0.01% of their portfolio | 11.0k $1.6m | New |
| CANADA LIFE ASSURANCE Co 0.00% of their portfolio | 10.8k $1.6m | Added +461 |
| FIRST MANHATTAN CO. LLC. 0.00% of their portfolio | 10.3k $1.5m | Reduced -16.7k |
| CITIGROUP INC 0.00% of their portfolio | 10.3k $1.5m | Added +3.3k |
| LPL Financial LLC 0.00% of their portfolio | 9.7k $1.4m | Reduced -1.7k |
| STATE OF WISCONSIN INVESTMENT BOARD 0.00% of their portfolio | 8.5k $1.3m | Reduced -2.8k |
| Point72 Asset Management, L.P. 0.00% of their portfolio | 8.4k $1.2m | New |
| MetLife Investment Management, LLC 0.01% of their portfolio | 8.4k $1.2m | Reduced -190 |
| Police & Firemen's Retirement System of New Jersey 0.01% of their portfolio | 8.0k $1.2m | Added +450 |
| AMALGAMATED BANK 0.01% of their portfolio | 7.7k $1.1m | Reduced -1.6k |
| NEW YORK STATE COMMON RETIREMENT FUND 0.00% of their portfolio | 7.7k $1.1m | Unchanged |
| Treasurer of the State of North Carolina 0.00% of their portfolio | 7.4k $1.1m | Added +180 |
| Creative Planning 0.00% of their portfolio | 6.9k $1.0m | Reduced -21.8k |
| O'SHAUGHNESSY ASSET MANAGEMENT, LLC 0.00% of their portfolio | 6.8k $1.0m | Added +2.2k |
| AlphaGrep UK Ltd 0.30% of their portfolio | 6.5k $968.1k | Added +768 |
| Vanguard Global Advisers, LLC 0.00% of their portfolio | 6.5k $965.0k | Reduced -221 |
| MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. 0.00% of their portfolio | 6.5k $960.7k | Reduced -2.8k |
| WHITEBOX ADVISORS LLC 0.02% of their portfolio | 6.3k $937.4k | Reduced -3.1k |
| MUTUAL OF AMERICA CAPITAL MANAGEMENT LLC 0.01% of their portfolio | 6.3k $931.2k | Reduced -175 |
| Zurcher Kantonalbank (Zurich Cantonalbank) 0.00% of their portfolio | 6.2k $913.9k | Unchanged |