Advance Auto Parts (NYSE: AAP) is a major automotive aftermarket retailer serving both do-it-yourself and professional customers across North America. Shares recently traded around $41 per share, giving the company a market capitalization of roughly $2.5B.
The stock has declined meaningfully over the past year. Looking at who owns Advance Auto Parts and how insiders have traded recently helps add context around institutional confidence and management behavior at current price levels.
Who Are Advance Auto Parts’ Top Shareholders?
Advance Auto Parts’ shareholder base is led by large institutional investors. Recent filings show that several active managers reduced exposure, while a smaller group selectively added shares, suggesting differing views on valuation and execution risk.
- BlackRock Institutional Trust Company, N.A.: 7,959,592 shares (13.26%), $328.3M value. Cut 150,712 shares (-1.86%).
- The Vanguard Group, Inc.: 6,809,432 shares (11.34%), $280.9M value. Cut 57,532 shares (-0.84%).
- T. Rowe Price Associates, Inc.: 6,213,503 shares (10.35%), $256.3M value. Cut 1,033,079 shares (-14.26%).
- Pzena Investment Management, LLC: 3,995,052 shares (6.66%), $164.8M value. Cut 399,912 shares (-9.10%).
- Fuller & Thaler Asset Management Inc.: 3,003,100 shares (5.00%), $123.9M value. Cut 607,783 shares (-16.83%).
For investors, this ownership profile suggests Advance Auto Parts still has strong institutional backing, though several active managers appear to be trimming exposure as the company works through operational challenges and uneven earnings visibility.
Hedge Fund Highlights
Millennium Management, founded by Israel Englander, significantly increased its exposure to Advance Auto Parts last quarter, boosting its position by over 190%. The firm now holds roughly $46M value of AAP shares, which may suggest positioning for a potential rebound after the stock’s sharp decline.
BeaconLight Capital, led by Ed Bosek, also raised its stake by nearly 65%. While the total position remains modest at about $8M value, the size of the increase stands out relative to prior holdings.
Citadel Advisors, founded by Ken Griffin, reported a smaller increase of just over 9%. Although Advance Auto Parts represents a very small portion of Citadel’s overall portfolio, the incremental buying suggests the firm has not fully stepped away from the stock.
Geode Capital Management, co-founded by David Finkelstein, maintained a large existing position with only minor changes. With holdings valued at roughly $87M, this exposure appears consistent with index-driven ownership rather than a high-conviction directional bet. For investors, hedge fund activity appears mixed, with selective buying emerging alongside broader institutional trimming.
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Advance Auto Parts’ Recent Insider Trades
Insider transactions over the past several months have been relatively small and represent a minimal portion of shares outstanding.
- Ryan P. Grimsland (Officer): Sold 3,597 shares at approximately $52.50.
- Kristen L. Soler (Officer): Sold 7,662 shares at around $51.00.
- Shane M. Okelly (Officer and Director): Sold 11,505 shares at roughly $60.12.
- Eugene I. Lee Jr. (Director): Bought shares near $55.
- Joan M. Hilson (Director): Bought shares near $56.
- Jeffrey J. Jones II (Director): Bought shares near $54.
- John Francis Ferraro (Director): Bought shares near $59.
- Carla Jean Bailo (Director): Bought shares near $58.
- Thomas W. Seboldt (Director): Bought shares near $57.
It appears insider activity has been limited in size and scope. While several executives reduced exposure earlier in the year at higher prices, the transactions do not materially alter overall ownership levels. For investors, these trades may provide context rather than a clear directional signal.
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What the Ownership & Insider Trade Data Tell Us
Advance Auto Parts’ shareholder base remains anchored by large institutions, but recent reductions by several active managers suggest caution around near-term execution and earnings stability.
At the same time, selective hedge fund buying and modest insider purchases indicate that not all investors view the current valuation the same way.
For investors, the takeaway is that confidence around Advance Auto Parts appears mixed. Institutional support remains intact, but position adjustments suggest ongoing debate around the company’s turnaround progress, leverage profile, and long-term earnings durability at current price levels.
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