Goldman Sachs & Co. Reports 2.66M Shares in Avis Budget (CAR)

Rhea-AI Filing Summary

Goldman Sachs reports a material passive stake in Avis Budget Group. The filing shows The Goldman Sachs Group, Inc., together with its subsidiary Goldman Sachs & Co. LLC, beneficially own 2,660,942.99 shares of Avis Budget Group common stock, representing 7.6% of the class. The reported interest is held with shared voting power of 2,660,924.99 shares and shared dispositive power of 2,660,942.99 shares, with no sole voting or dispositive power disclosed.

The parties submitted a joint filing agreement and identify the securities as owned or deemed owned by the broker/dealer and investment adviser subsidiary. The filing certifies the holdings were acquired and are held in the ordinary course of business and not for the purpose of changing or influencing control of the issuer.

Positive

• Material disclosure of ownership: Reporting persons beneficially own 2,660,942.99 shares (7.6%), which exceeds the 5% SEC reporting threshold
• Clear classification and consolidation: Exhibit clarifies that GS Group is the parent and Goldman Sachs & Co. LLC is the subsidiary broker/dealer and investment adviser responsible for the securities
• Joint filing agreement filed: Parties agreed to joint filing, simplifying responsibility and amendment authority
• Ordinary-course certification: Reporting persons certify holdings were acquired and are held in the ordinary course of business and not to influence control

Negative

• None.

Insights

Institutional Investor Analyst

TL;DR: Goldman Sachs and its broker/dealer subsidiary report a material passive stake of 7.6% in Avis Budget, disclosed via joint Schedule 13G.

This Schedule 13G is a routine disclosure for a substantial passive investor. The 2,660,942.99-share position is meaningful relative to typical free-float concentrations and exceeds the 5% reporting threshold, which can attract market attention. The filing shows shared voting and dispositive power rather than sole control, and includes a certification that the holdings are in the ordinary course of business rather than intended to influence control. For investors, this is a material ownership disclosure but not evidence of an activist intent.

Corporate Governance Expert

TL;DR: The joint filing and classification as parent/subsidiary clarify aggregation of ownership but indicate no control attempt.

The exhibit stating that GS Group is a parent holding company and that Goldman Sachs & Co. LLC is a broker/dealer and investment adviser explains why ownership is reported on a consolidated basis. The joint filing agreement formalizes shared reporting responsibilities. The explicit certification that the securities are not held to change or influence control is important for governance readers: it signals passive intent under Rule 13d-1, reducing immediate takeover or proxy-change concerns. This remains a material disclosure for governance monitoring.

SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13G

UNDER THE SECURITIES EXCHANGE ACT OF 1934

AVIS BUDGET GROUP, INC.

(Name of Issuer)

Common Stock, par value $0.01 per share

(Title of Class of Securities)

053774105

(CUSIP Number)

06/30/2025

(Date of Event Which Requires Filing of this Statement)

Check the appropriate box to designate the rule pursuant to which this Schedule is filed:

Rule 13d-1(b)

Rule 13d-1(c)

Rule 13d-1(d)

SCHEDULE 13G

CUSIP No. 053774105

1

Names of Reporting Persons

THE GOLDMAN SACHS GROUP, INC.

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

DELAWARE

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 0.00
6	Shared Voting Power 2,660,924.99
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 2,660,942.99

9

Aggregate Amount Beneficially Owned by Each Reporting Person

2,660,942.99

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

7.6 %

12

Type of Reporting Person (See Instructions)

HC, CO

SCHEDULE 13G

CUSIP No. 053774105

1

Names of Reporting Persons

GOLDMAN SACHS & CO. LLC

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

NEW YORK

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 0.00
6	Shared Voting Power 2,660,924.99
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 2,660,942.99

9

Aggregate Amount Beneficially Owned by Each Reporting Person

2,660,942.99

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

7.6 %

12

Type of Reporting Person (See Instructions)

BD, OO, IA

SCHEDULE 13G

Item 1.
(a)	Name of issuer: AVIS BUDGET GROUP, INC.
(b)	Address of issuer's principal executive offices: 379 INTERPACE PARKWAY, PARSIPPANY, X1, 7054
Item 2.
(a)	Name of person filing: THE GOLDMAN SACHS GROUP, INC.| GOLDMAN SACHS & CO. LLC
(b)	Address or principal business office or, if none, residence: The Goldman Sachs Group, Inc. 200 West Street New York, NY 10282| Goldman Sachs & Co. LLC 200 West Street New York, NY 10282
(c)	Citizenship: THE GOLDMAN SACHS GROUP, INC. - Delaware| GOLDMAN SACHS & CO. LLC - New York
(d)	Title of class of securities: Common Stock, par value $0.01 per share
(e)	CUSIP No.: 053774105
Item 3.	If this statement is filed pursuant to §§ 240.13d-1(b) or 240.13d-2(b) or (c), check whether the person filing is a:
(a)	Broker or dealer registered under section 15 of the Act (15 U.S.C. 78o);
(b)	Bank as defined in section 3(a)(6) of the Act (15 U.S.C. 78c);
(c)	Insurance company as defined in section 3(a)(19) of the Act (15 U.S.C. 78c);
(d)	Investment company registered under section 8 of the Investment Company Act of 1940 (15 U.S.C. 80a-8);
(e)	An investment adviser in accordance with § 240.13d-1(b)(1)(ii)(E);
(f)	An employee benefit plan or endowment fund in accordance with § 240.13d-1(b)(1)(ii)(F);
(g)	A parent holding company or control person in accordance with § 240.13d-1(b)(1)(ii)(G);
(h)	A savings associations as defined in Section 3(b) of the Federal Deposit Insurance Act (12 U.S.C. 1813);
(i)	A church plan that is excluded from the definition of an investment company under section 3(c)(14) of the Investment Company Act of 1940 (15 U.S.C. 80a-3);
(j)	A non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J). If filing as a non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J), please specify the type of institution:
(k)	Group, in accordance with Rule 240.13d-1(b)(1)(ii)(K).
Item 4.	Ownership
(a)	Amount beneficially owned: See the response(s) to Item 9 on the attached cover page(s).
(b)	Percent of class: See the response(s)to Item 11 on the attached cover page(s).
(c)	Number of shares as to which the person has:
	(i) Sole power to vote or to direct the vote: See the response(s) to Item 5 on the attached cover page(s).
	(ii) Shared power to vote or to direct the vote: See the response(s) to Item 6 on the attached cover page(s).
	(iii) Sole power to dispose or to direct the disposition of: See the response(s) to Item 7 on the attached cover page(s).
	(iv) Shared power to dispose or to direct the disposition of: See the response(s) to Item 8 on the attached cover page(s).
Item 5.	Ownership of 5 Percent or Less of a Class.
Item 6.	Ownership of more than 5 Percent on Behalf of Another Person.
	Not Applicable
Item 7.	Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on by the Parent Holding Company or Control Person.
	If a parent holding company has filed this schedule, pursuant to Rule 13d-1(b)(ii)(G), so indicate under Item 3(g) and attach an exhibit stating the identity and the Item 3 classification of the relevant subsidiary. If a parent holding company has filed this schedule pursuant to Rule 13d-1(c) or Rule 13d-1(d), attach an exhibit stating the identification of the relevant subsidiary. See Exhibit (99.2)
Item 8.	Identification and Classification of Members of the Group.
	Not Applicable
Item 9.	Notice of Dissolution of Group.
	Not Applicable

Item 10.

Certifications:

By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were acquired and are held in the ordinary course of business and were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under ?? 240.14a-11.

SIGNATURE

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

THE GOLDMAN SACHS GROUP, INC.

Signature:	Name: Abhilasha Bareja
Name/Title:	Attorney-in-fact
Date:	07/17/2025

GOLDMAN SACHS & CO. LLC

Signature:	Name: Abhilasha Bareja
Name/Title:	Attorney-in-fact
Date:	07/17/2025

Exhibit Information

EXHIBIT (99.1) JOINT FILING AGREEMENT In accordance with Rule 13d-1(k)(1) promulgated under the Securities Exchange Act of 1934, the undersigned agree to the joint filing of a Statement on Schedule 13G (including any and all amendments thereto) with respect to the Common Stock, par value $0.01 per share, of AVIS BUDGET GROUP, INC. and further agree to the filing of this agreement as an Exhibit thereto. In addition, each party to this Agreement expressly authorizes each other party to this Agreement to file on its behalf any and all amendments to such Statement on Schedule 13G. Date: 07/17/2025 THE GOLDMAN SACHS GROUP, INC. By:/s/ Abhilasha Bareja ---------------------------------------- Name: Abhilasha Bareja Title: Attorney-in-fact GOLDMAN SACHS & CO. LLC By:/s/ Abhilasha Bareja ---------------------------------------- Name: Abhilasha Bareja Title: Attorney-in-fact EXHIBIT (99.2) ITEM 7 INFORMATION The securities being reported on by The Goldman Sachs Group, Inc. ("GS Group"), as a parent holding company, are owned, or may be deemed to be beneficially owned, by Goldman Sachs & Co. LLC ("Goldman Sachs"), a broker or dealer registered under Section 15 of the Act and an investment adviser registered under Section 203 of the Investment Advisers Act of 1940. Goldman Sachs is a subsidiary of GS Group.

FAQ

What stake does Goldman Sachs report in Avis Budget Group (CAR)?

The filing states a beneficial ownership of 2,660,942.99 shares, representing 7.6% of Avis Budget Group common stock.

Does Goldman Sachs claim voting or dispositive control over CAR shares?

The filing shows no sole voting or dispositive power; it reports shared voting power of 2,660,924.99 shares and shared dispositive power of 2,660,942.99 shares.

Is this filing a joint submission and why does that matter?

Yes. A joint filing agreement is included, indicating the parties agree to file jointly and may amend the Schedule 13G on each other’s behalf.

Does the filing indicate activist intent by Goldman Sachs in CAR?

No. The filing includes a certification that the securities are held in the ordinary course of business and were not acquired to change or influence control.

Which Goldman entities are named as reporting persons on the Schedule 13G for CAR?

The reporting persons are The Goldman Sachs Group, Inc. and Goldman Sachs & Co. LLC.