The Public Sector Pension Investment Board (PSPIB) increased its stake in CarGurus, Inc. (NASDAQ:CARG) by 29.0% during the third quarter of 2025, according to a recent filing with the Securities and Exchange Commission (SEC).
The pension fund now holds 372,214 shares of CarGurus, representing approximately 0.37% of the company’s outstanding stock. The value of the position was approximately $13.86 million as of the time of the disclosure, reflecting an additional 83,700 shares purchased during the quarter. This move signals continued institutional interest in the used-car marketplace, even as other investors have taken different approaches.
The increase by PSPIB occurred during a period of mixed signals for CarGurus. Regulatory filings indicate that insiders have been net sellers of the company’s stock in recent months, with executives and others selling a combined 49,003 shares. Analysts also maintain a range of price targets for the company. Despite these factors, the substantial purchase by the public pension investor suggests a longer-term confidence in CarGurus’ business model.
Other institutional investors also made incremental moves during the third quarter. One asset manager initiated a new position valued at approximately $27,000, even as others increased existing stakes, though from smaller initial holdings. Collectively, institutional investors now control nearly 87% of CarGurus’ stock. The pattern of incremental exposure suggests firms are seeking to participate in a sector that has demonstrated both resilience and sensitivity to macroeconomic trends.
PSPIB’s increased investment in CarGurus comes as the online automotive marketplace navigates a volatile market. The fund’s decision to expand its position underscores its belief in the company’s potential despite recent fluctuations and broader economic uncertainties.
