SCHEDULE: Susquehanna Group Discloses 6.4% Stake in Avis Budget

A group of Susquehanna-affiliated entities has disclosed a passive 6.4% beneficial ownership stake in Avis Budget Group, Inc., totaling 2,268,454 shares.

Summary

• A group of six affiliated entities, including G1 Execution Services, LLC, SIG Brokerage, LP, Susquehanna Fundamental Investments, LLC, Susquehanna Investment Group, Susquehanna Portfolio Strategies, LLC, and Susquehanna Securities, LLC, collectively reported beneficial ownership of Avis Budget Group, Inc. common stock.
• The aggregate amount beneficially owned by the group is 2,268,454 shares, representing 6.4% of the class outstanding.
• The ownership includes options to buy shares held by SIG Brokerage, LP, Susquehanna Investment Group, and Susquehanna Securities, LLC, with Susquehanna Securities, LLC holding options for 1,930,900 shares.
• The shares were acquired and are held in the ordinary course of business, not for the purpose of changing or influencing control of Avis Budget Group, Inc.
• Avis Budget Group, Inc. had 35,193,504 shares outstanding as of July 25, 2025, according to its Quarterly Report on Form 10-Q filed on July 30, 2025.

Sentiment

Score: 6

Explanation: The filing is generally neutral as it's a passive ownership disclosure. However, the disclosure of a significant stake by a prominent investment group can be seen as a positive signal of institutional confidence in the issuer, slightly elevating the sentiment.

Positives

• Increased institutional interest in Avis Budget Group, Inc. shares, as evidenced by a significant passive stake from a reputable financial group.
• The filing indicates a long-term, passive investment strategy, suggesting confidence in the company's underlying value without seeking control.

Negatives

• No specific negative information regarding Avis Budget Group, Inc. is contained within this ownership disclosure filing.

Risks

• The beneficial ownership includes a substantial portion in options, which introduces potential volatility based on option exercise decisions and market price movements.
• While declared passive, any future changes in the group's investment intent could potentially influence the company's stock price or governance dynamics.

Future Outlook

This Schedule 13G filing does not contain any forward-looking statements or guidance from Avis Budget Group, Inc. or the reporting persons regarding the issuer's future performance.

Industry Context

The disclosure of a significant passive stake by a major financial group like Susquehanna in Avis Budget Group, Inc. can signal increased institutional confidence in the travel and car rental industry, which has seen fluctuating demand and operational challenges in recent years. Such an investment might reflect a belief in the long-term recovery or stability of the sector.

Stakeholder Impact

• Shareholders: The disclosure of a significant institutional stake may increase investor confidence and potentially influence trading activity, signaling a vote of confidence from a sophisticated investor.
• Company Management: Awareness of a large passive shareholder group may subtly influence strategic decisions, though the stated intent is not to influence control.

Key Dates

Keywords

Avis Budget Group, Susquehanna, Beneficial Ownership, Schedule 13G, Common Stock, Institutional Investment, Car Rental, Travel Industry