What smart money is saying about Advance Auto Parts
2 funds in our archive have pitched Advance Auto Parts, most recently TCW Relative Value Mid Cap Fund in March 2025.
Advance Auto Parts, Inc. provides automotive replacement parts, accessories, batteries, and maintenance items for domestic and imported cars, vans, sport utility vehicles, and light and heavy duty trucks. The company offers battery accessories; belts and hoses; brakes and brake pads; chassis and climate control parts; clutches and drive shafts; engines and engine parts; exhaust systems and parts; hub assemblies; ignition components and wires; radiators and cooling parts; starters and alternators; and steering and alignment parts. It also offers air conditioning chemicals and accessories; air fresheners; antifreeze and washer fluids; electrical wires and fuses; electronics; floor mats, seat covers, and interior accessories; hand and specialty tools; lighting products; performance parts; sealants, adhesives and compounds; tire repair accessories; vent shades, mirrors and exterior accessories; washes, waxes and cleaning supplies; and wiper blades. In addition, the company offers air filters; fuel and oil additives; fuel filters; grease and lubricants; motor oils; oil filters, part cleaners and treatments; and transmission fluids for engine maintenance. Further, it offers battery and wiper installation; engine light scanning and checking; electrical system testing; video clinic; oil and battery recycling; and loaner tool program services. Additionally, the company sells its products through its website. It serves professional installers and do-it-yourself customers. The company operates stores under the Advance Auto Parts, Autopart International, and Carquest brands, as well as branches under the Worldpac name. As of April 23, 2022, it operated 4,687 stores and 311 branches in the United States, Puerto Rico, the U.S. Virgin Islands, and Canada; and served 1,318 independently owned Carquest branded stores in Mexico, Grand Cayman, the Bahamas, Turks and Caicos, and the British Virgin Islands. The company was founded in 1929 and is based in Raleigh, North Carolina.
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Position history
Between Q1 2025 and Q3 2026, 4 fund letters reported a position in Advance Auto Parts, with 2 buys (opened or added) and 1 sell (trimmed or exited).
| Quarter | Letters | Bought | Sold | Theses |
|---|---|---|---|---|
| Q3 2026 | 2 | 1 | 0 | 0 |
| Q2 2026 | 1 | 1 | 0 | 0 |
| Q3 2025 | 1 | 0 | 1 | 0 |
| Q1 2025 | 0 | 0 | 0 | 2 |
Bought and Sold count moves: the same sentence published by several funds of one house in a quarter counts once.
Fund activity · 4 positions · 3 moves
- September 2026
“Our Consumer Discretionary picks, with a focus on apparel (PVH Corp, GIII and Levi’s) and auto (Dorman and Advance Auto Parts), also underperformed.”
Advance Auto Parts - September 2026
“The largest individual detractor was auto parts retailer Advance Auto Parts, which fell after a top-line miss driven by weakness in its do-it-yourself segment. The shortfall reflected a combination of a weaker consumer and a trade-down to value-priced products, exacerbated by unfavorable weather. Cabinet manufacturer MasterBrand declined after a noisy quarter complicated by the closing of its American Woodmark acquisition partway through the period. Demand remains weak, particularly as elevated interest rates weigh on housing turnover, and tariffs remain a risk. French residential developer Nexity declined on continued demand weakness in a municipal election year, when building permits typically slow. Despite the share-price weakness, earnings and guidance remained on track, and the company further strengthened its balance sheet. The information technology sector was the largest source of absolute contribution during the quarter. Staffing company Robert Half was the top individual contributor, as its own results and those of its peers suggested green shoots in the staffing industry following a prolonged downturn. Medical products company Baxter International rose after second-quarter results showed organic growth well ahead of expectations across all of its segments, led by its drug-compounding and intravenous (IV) solutions businesses, along with better-than- expected margins and improving free cash flow. Bank of Ireland advanced after first-half results showed solid loan growth in Ireland, cost discipline, and very low credit losses, and management raised its guidance for net interest income, returns, and capital generation. During the quarter, we initiated a position in Corebridge Financial, formerly AIG’s Life & Retirement business and a leading U.S. provider of annuities, group retirement products, and life insurance. Its top-five position across variable, fixed, and indexed annuities allows management to respond to shifts in demand, and its legacy variable annuity book is relatively clean. The shares trade at a discount to tangible book value, and we believe management has a credible path to sustainably higher returns through higher interest rates, a greater allocation to private credit and alternatives, and cost savings, including synergies from its pending merger with Equitable Holdings. We also added to Advance Auto Parts on weakness.”
Advance Auto Parts - June 2026
“We added to our existing positions in auto parts retailer Advance Auto Parts, consumer products company Spectrum Brands, and health insurer and retail pharmacy operator CVS Health on valuation.”
Advance Auto Parts - TrimmedPzena Global Best IdeasSeptember 2025
“To fund these purchases, we exited integrated oil major Shell, on strength, and trimmed global pork producer WH Group, and Advance Auto, both on appreciation.”
Advance Auto Parts
Fund coverage · 2 theses
- TCW Relative Value Mid Cap FundMarch 2025
Advance Auto Parts is poised for significant stock appreciation over the next two years through strategic management initiatives and favorable industry dynamics.
Read the full thesis - RoyceMarch 2025
Advanced Auto Parts is a potential turnaround investment due to its position in a consolidating aftermarket automotive industry, ongoing management improvements, and attractive risk/reward profile despite existing debt.
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