CARVANA CO CVNA
CL A · Common Stock · CUSIP 146869102 · ISIN US1468691027
Online used car dealer based in Arizona
- SectorConsumer discretionary
- IndustryRetail-Auto Dealers & Gasoline Stations
- HeadquartersTempe, AZ
- Websitecarvana.com
- FilingsSEC EDGAR
Q1 2026 share counts are adjusted for a 5-for-1 stock split, so holders aren't shown as buying or selling because of it.
* Summed across managers. Shares that two managers' reports both contain – a subsidiary's holdings that its parent's report includes too, or a sub-adviser's in its client's – are counted once ($102.7m this quarter). Holder counts are more reliable. Implied quarter-end price ≈ $66.05. Options: 50 managers hold calls ($5.8bn notional), 56 hold puts ($4.5bn).
Trends to Q2 2026
Institutional holders
Managers reporting a position, each quarter
Numbers
| Quarter | Holders |
|---|---|
| Q3 2022 | 272 |
| Q4 2022 | 223 |
| Q1 2023 | 215 |
| Q2 2023 | 247 |
| Q3 2023 | 258 |
| Q4 2023 | 293 |
| Q1 2024 | 336 |
| Q2 2024 | 414 |
| Q3 2024 | 492 |
| Q4 2024 | 589 |
| Q1 2025 | 616 |
| Q2 2025 | 742 |
| Q3 2025 | 776 |
| Q4 2025 | 853 |
| Q1 2026 | 781 |
| Q2 2026 | 814 |
Buyers vs sellers
Managers adding to or starting a position, vs cutting or selling out
Numbers
| Quarter | Bought or added | Cut or sold out |
|---|---|---|
| Q3 2024 | 289 | 189 |
| Q4 2024 | 329 | 231 |
| Q1 2025 | 350 | 269 |
| Q2 2025 | 474 | 267 |
| Q3 2025 | 442 | 319 |
| Q4 2025 | 480 | 363 |
| Q1 2026 | 403 | 453 |
| Q2 2026 | 463 | 370 |
Calls vs puts
Options held, notional value, last 4 quarters. P/C = puts ÷ calls
Numbers
| Quarter | Calls | Puts | P/C |
|---|---|---|---|
| Q3 2025 | $8.2bn | $5.3bn | 0.64 |
| Q4 2025 | $9.8bn | $7.2bn | 0.73 |
| Q1 2026 | $6.5bn | $5.3bn | 0.81 |
| Q2 2026 | $5.8bn | $4.5bn | 0.77 |
Biggest buyers
| Capital Research Global Investors | Added | +9.2m |
| Capital International Investors | Added | +6.6m |
| Divisadero Street Capital Management, LP | Added | +3.0m |
| MARSHALL WACE, LLP | Added | +2.4m |
| Invesco Ltd. | Added | +2.3m |
| Aspex Management (HK) Ltd | Added | +1.8m |
| LONE PINE CAPITAL LLC | Added | +1.7m |
| Durable Capital Partners LP | Added | +1.7m |
| Capital World Investors | Added | +1.2m |
| MILLENNIUM MANAGEMENT LLC | Added | +1.1m |
Biggest sellers
| BlackRock, Inc. | Reduced | -9.2m |
| Dragoneer Investment Group, LLC | Sold out | -6.3m |
| PRICE T ROWE ASSOCIATES INC /MD/ | Reduced | -4.2m |
| JPMORGAN CHASE & CO | Reduced | -4.1m |
| FMR LLC | Reduced | -3.6m |
| Lingotto Investment Management LLP | Reduced | -3.5m |
| GEODE CAPITAL MANAGEMENT, LLC | Reduced | -2.9m |
| MASSACHUSETTS FINANCIAL SERVICES CO /MA/ | Reduced | -2.3m |
| SANDS CAPITAL MANAGEMENT, LLC | Reduced | -2.1m |
| WELLINGTON MANAGEMENT GROUP LLP | Reduced | -1.8m |
Biggest calls
| JANE STREET GROUP, LLC | Added | $1.4bn21.7m shares |
| CITADEL ADVISORS LLC | Reduced | $1.3bn20.4m shares |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | Reduced | $1.2bn18.9m shares |
| IMC-Chicago, LLC | Reduced | $292.9m4.5m shares |
| SIMPLEX TRADING, LLC | Added | $196.7m3.0m shares |
| Caption Management, LLC | Added | $195.8m3.0m shares |
| Walleye Trading LLC | Reduced | $163.7m2.5m shares |
| JPMORGAN CHASE & CO | Added | $132.2m2.1m shares |
| HRT FINANCIAL LP | Reduced | $123.9m1.9m shares |
| Optiver Holding B.V. | Added | $103.9m1.6m shares |
Biggest puts
| CITIGROUP INC | Reduced | $1.6bn25.0m shares |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | Reduced | $751.2m11.4m shares |
| CITADEL ADVISORS LLC | Reduced | $447.5m6.8m shares |
| JANE STREET GROUP, LLC | Reduced | $293.0m4.5m shares |
| Caption Management, LLC | Reduced | $249.9m3.8m shares |
| IMC-Chicago, LLC | Reduced | $232.0m3.5m shares |
| SIMPLEX TRADING, LLC | Reduced | $90.3m1.4m shares |
| Walleye Trading LLC | Added | $76.7m1.2m shares |
| Optiver Holding B.V. | Added | $76.5m1.2m shares |
| GROUP ONE TRADING LLC | Reduced | $72.9m1.1m shares |
Options at notional value: the value of the shares the contracts control, as filers report them, not what the options cost. Not included in the holders, shares or buying above.
Major shareholders (over 5%)
Anyone who owns more than 5% of a class of the company's shares has to say so: on Schedule 13D if they may try to influence or control the company, on 13G if they're a passive investor, and update it as the stake changes. Each holder's latest filing, from 19 Dec 2024 on; percentages are of the share class, as the holder worked them out.
| Holder | Stake |
|---|---|
GARCIA ERNEST C. II
13D · may seek influence
-1.0 pts · filed 2026-05-01
Stated purposeItem 4 of the Original Schedule 13D is hereby amended and restated to include the following information. The information set forth in Item 5 is incorporated by reference in its entirety into this Item 4. The Reporting Persons' acquisitions of the securities reported herein were made for investment purposes. Except as set forth in this Item 4, the Reporting Persons do not have any present plans or proposals that relate to or would result in any of the matters described in clauses (a) through (j) of the instructions to Item 4 of Schedule 13D. However, in the future, the Reporting Persons will take such actions with respect to their investment in the Issuer as they deem appropriate, including, without limitation, acquiring or disposing of securities of the Issuer, entering into hedging or le… Full filing |
22.9% |
| GARCIA ERNEST C. III 13G · exempt (held before listing) filed 2025-08-01 | 18.2% |
| PRICE T ROWE ASSOCIATES INC /MD/ 13G · institution filed 2026-02-17 | 12.6% |
| Capital Research Global Investors 13G · institution +1.3 pts · filed 2026-08-12 | 8.9% |
| VANGUARD CAPITAL MANAGEMENT LLC 13G · institution new · filed 2026-04-29 | 7.2% |
| BlackRock, Inc. 13G · institution -1.3 pts · filed 2026-07-29 | 6.3% |
| FMR LLC 13G · institution +0.7 pts · filed 2026-05-06 | 5.2% |
Fell to 5% or below in the last year: VANGUARD GROUP INC (0.0%, 2026-03-26; now reported by VANGUARD CAPITAL MANAGEMENT LLC)
Insider purchases and sales since 1 Apr 2026
Shares bought or sold by the company's own officers, directors and 10% owners, in the open market or privately, as they reported to the SEC on Form 4 (due within two business days of the trade). Grants, option exercises, shares withheld for tax and gifts aren't included.
Officers and directors buying vs selling
Number of people, by quarter (10% owners not included)
Numbers
| Quarter | Buying | Bought | Selling | Sold | Sold under a plan |
|---|---|---|---|---|---|
| Q4 2024 | 0 | — | 7 | $136.5m | $129.2m |
| Q1 2025 | 0 | — | 4 | $67.3m | $67.3m |
| Q2 2025 | 0 | — | 11 | $326.3m | $310.9m |
| Q3 2025 | 0 | — | 8 | $347.4m | $326.0m |
| Q4 2025 | 0 | — | 10 | $212.4m | $186.4m |
| Q1 2026 | 1 | $2.2k | 6 | $29.1m | $28.2m |
| Q2 2026 | 0 | — | 6 | $29.1m | $28.0m |
| Q3 2026 | 1 | $1.5m | 6 | $28.8m | $26.6m |
| Date | Insider | Trade | Value |
|---|---|---|---|
| 2026-09-14 | Taira Thomas President, Special Projects | Sold plan | $1.2m16.8k shares |
| 2026-09-01 | JENKINS MARK W. Chief Financial Officer | Sold plan | $4.6m63.8k shares |
| 2026-09-01 | HUSTON BENJAMIN E. Chief Operating Officer | Sold plan | $3.6m50.0k shares |
| 2026-09-01 | Palmer Stephen R Vice President of Accounting | Sold plan | $357.8k5.0k shares |
| 2026-08-14 | PLATT IRA J. Director | Sold | $1.1m15.0k shares |
| 2026-08-14 | QUAYLE J DANFORTH Director | Sold plan | $1.1m14.5k shares |
| 2026-08-13 | PLATT IRA J. Director | Sold | $1.1m15.0k shares |
| 2026-08-03 | JENKINS MARK W. Chief Financial Officer | Sold plan | $4.1m63.8k shares |
| 2026-08-03 | HUSTON BENJAMIN E. Chief Operating Officer | Sold plan | $3.2m50.0k shares |
| 2026-08-03 | Palmer Stephen R Vice President of Accounting | Sold plan | $322.5k5.0k shares |
| 2026-07-31 | MAROONE MICHAEL E Director | Bought | $1.5m25.0k shares |
| 2026-07-01 | JENKINS MARK W. Chief Financial Officer | Sold plan | $4.4m63.8k shares |
| 2026-07-01 | HUSTON BENJAMIN E. Chief Operating Officer | Sold plan | $3.4m50.0k shares |
| 2026-07-01 | Palmer Stephen R Vice President of Accounting | Sold plan | $342.6k5.0k shares |
| 2026-06-15 | PLATT IRA J. Director | Sold | $1.0m15.0k shares |
| 2026-06-10 | QUAYLE J DANFORTH Director | Sold plan | $1.0m14.5k shares |
| 2026-06-08 | Taira Thomas President, Special Projects | Sold plan | $375.8k5.6k shares |
| 2026-06-01 | JENKINS MARK W. Chief Financial Officer | Sold plan | $4.5m63.8k shares |
| 2026-06-01 | HUSTON BENJAMIN E. Chief Operating Officer | Sold plan | $3.5m50.0k shares |
| 2026-06-01 | Palmer Stephen R Vice President of Accounting | Sold plan | $352.1k5.0k shares |
| 2026-05-08 | Taira Thomas President, Special Projects | Sold plan | $447.0k5.6k shares |
| 2026-05-01 | JENKINS MARK W. Chief Financial Officer | Sold plan | $4.9m12.8k shares |
| 2026-05-01 | HUSTON BENJAMIN E. Chief Operating Officer | Sold plan | $3.8m10.0k shares |
| 2026-05-01 | Palmer Stephen R Vice President of Accounting | Sold plan | $395.3k1.0k shares |
| 2026-04-08 | Taira Thomas President, Special Projects | Sold plan | $1.3m3.8k shares |
| 2026-04-01 | JENKINS MARK W. Chief Financial Officer | Sold plan | $4.0m12.8k shares |
| 2026-04-01 | HUSTON BENJAMIN E. Chief Operating Officer | Sold plan | $3.1m10.0k shares |
| 2026-04-01 | Palmer Stephen R Vice President of Accounting | Sold plan | $317.5k1.0k shares |
Their holding: how much the trade added to or took from the insider's holding (direct, or the trust or fund named). The same trade is sometimes reported by more than one insider, such as a fund and the director who represents it; totals count it once. A value is left blank where the reported price is far from the market price (usually a typo).
Holders, Q2 2026
| Manager | Shares | Change |
|---|---|---|
| PRICE T ROWE ASSOCIATES INC /MD/ 0.56% of their portfolio | 84.7m $5.6bn | Reduced -4.2m |
| Capital Research Global Investors 0.58% of their portfolio | 63.4m $4.2bn | Added +9.2m |
| BlackRock, Inc. 0.05% of their portfolio | 48.5m $3.2bn | Reduced -9.2m |
| VANGUARD CAPITAL MANAGEMENT LLC 0.06% of their portfolio | 45.6m $3.0bn | Added +620.0k |
| FMR LLC 0.10% of their portfolio | 33.6m $2.2bn | Reduced -3.6m |
| VANGUARD PORTFOLIO MANAGEMENT LLC 0.10% of their portfolio | 32.2m $2.1bn | Added +417.6k |
| STATE STREET CORP 0.06% of their portfolio | 29.4m $1.9bn | Added +970.7k |
| Capital International Investors 0.32% of their portfolio | 23.3m $1.5bn | Added +6.6m |
| CAS Investment Partners, LLC 78.85% of their portfolio | 22.6m $1.5bn | Reduced -146.9k |
| GREENOAKS LLC 59.61% of their portfolio | 21.3m $1.4bn | Added +330.0k |
| GEODE CAPITAL MANAGEMENT, LLC 0.06% of their portfolio | 16.7m $1.1bn | Reduced -2.9m |
| Capital World Investors 0.11% of their portfolio | 14.2m $934.7m | Added +1.2m |
| VIKING GLOBAL INVESTORS LP 2.31% of their portfolio | 12.3m $811.1m | Reduced -1.6m |
| SPRUCE HOUSE INVESTMENT MANAGEMENT LLC 22.61% of their portfolio | 11.7m $768.4m | Unchanged |
| Aspex Management (HK) Ltd 8.08% of their portfolio | 10.9m $716.9m | Added +1.8m |
| LONE PINE CAPITAL LLC 4.23% of their portfolio | 10.5m $692.5m | Added +1.7m |
| Lingotto Investment Management LLP 13.15% of their portfolio | 9.3m $611.1m | Reduced -3.5m |
| JPMORGAN CHASE & CO 0.03% of their portfolio | 8.6m $549.1m | Reduced -4.1m |
| SANDS CAPITAL MANAGEMENT, LLC 2.07% of their portfolio | 8.5m $557.0m | Reduced -2.1m |
| Invesco Ltd. 0.04% of their portfolio | 7.6m $501.3m | Added +2.3m |
| KPS Global Asset Management UK Ltd 79.62% of their portfolio | 7.5m $493.6m | Unchanged |
| Durable Capital Partners LP 4.30% of their portfolio | 6.7m $442.4m | Added +1.7m |
| MORGAN STANLEY 0.02% of their portfolio | 6.4m $419.3m | Reduced -371.1k |
| NORTHERN TRUST CORP 0.05% of their portfolio | 6.2m $406.0m | Added +103.6k |
| CHARLES SCHWAB INVESTMENT MANAGEMENT INC 0.05% of their portfolio | 5.5m $364.6m | Added +364.9k |
| NORGES BANK 0.03% of their portfolio | 5.2m $345.1m | Not comparable |
| RENAISSANCE TECHNOLOGIES LLC 0.46% of their portfolio | 5.1m $337.2m | Reduced -883.6k |
| UBS Group AG 0.05% of their portfolio | 4.5m $296.7m | Reduced -109.7k |
| Sachem Head Capital Management LP 6.11% of their portfolio | 4.5m $294.5m | Added +525.0k |
| Whale Rock Capital Management LLC 2.25% of their portfolio | 4.3m $280.9m | Reduced -120.7k |
| Divisadero Street Capital Management, LP 6.39% of their portfolio | 4.2m $274.0m | Added +3.0m |
| VANGUARD FIDUCIARY TRUST CO 0.06% of their portfolio | 4.1m $268.7m | Added +33.8k |
| D1 Capital Partners L.P. 0.72% of their portfolio | 3.8m $248.8m | Added +437.4k |
| WELLS FARGO & COMPANY/MN 0.04% of their portfolio | 3.6m $237.5m | Reduced -237.1k |
| Bank of New York Mellon Corp 0.04% of their portfolio | 3.5m $228.8m | Reduced -75.8k |
| GOLDMAN SACHS GROUP INC 0.02% of their portfolio | 3.4m $224.6m | Added +243.7k |
| GOODNOW INVESTMENT GROUP, LLC 23.24% of their portfolio | 3.4m $224.0m | Reduced -219.0k |
| UBS AM, a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC 0.04% of their portfolio | 3.3m $218.9m | Reduced -404.5k |
| COATUE MANAGEMENT LLC 0.44% of their portfolio | 3.3m $215.8m | Reduced -126.1k |
| DIMENSIONAL FUND ADVISORS LP 0.04% of their portfolio | 3.1m $202.4m | Added +52.0k |
| Dream Peak Capital Ltd 19.48% of their portfolio | 3.0m $197.4m | Added +721.1k |
| Legal & General Group Plc 0.04% of their portfolio | 3.0m $194.7m | Reduced -312.5k |
| FRANKLIN RESOURCES INC 0.04% of their portfolio | 2.9m $193.8m | Reduced -725.3k |
| MASSACHUSETTS INSTITUTE OF TECHNOLOGY 25.98% of their portfolio | 2.9m $190.3m | Unchanged |
| National Philanthropic Trust 2.62% of their portfolio | 2.8m $181.4m | Reduced -530.0k |
| MAVERICK CAPITAL LTD 1.57% of their portfolio | 2.6m $173.7m | Added +537.3k |
| MARSHALL WACE, LLP 0.15% of their portfolio | 2.6m $172.9m | Added +2.4m |
| Nuveen, LLC 0.04% of their portfolio | 2.5m $163.5m | Added +368.4k |
| Amundi 0.04% of their portfolio | 2.4m $159.4m | Reduced -102.4k |
| North Peak Capital Management, LLC 16.87% of their portfolio | 2.3m $151.8m | Added +202.0k |
| MASSACHUSETTS FINANCIAL SERVICES CO /MA/ 0.05% of their portfolio | 2.3m $150.5m | Reduced -2.3m |
| CITIGROUP INC 0.07% of their portfolio | 2.2m $143.8m | Added +902.3k |
| MILLENNIUM MANAGEMENT LLC 0.09% of their portfolio | 2.1m $137.8m | Added +1.1m |
| Axxion S.A. 9.06% of their portfolio | 1.9m $126.7m | First filing |
| MANUFACTURERS LIFE INSURANCE COMPANY, THE 0.10% of their portfolio | 1.9m $124.9m | Reduced -61.7k |
| DEUTSCHE BANK AG\ 0.04% of their portfolio | 1.9m $121.9m | Reduced -316.2k |
| Swiss National Bank 0.06% of their portfolio | 1.8m $119.5m | Reduced -161.0k |
| Selkirk Management LLC 41.15% of their portfolio | 1.8m $118.5m | Reduced -25.0k |
| BANK OF AMERICA CORP /DE/ 0.01% of their portfolio | 1.8m $117.9m | Reduced -106.4k |
| RV Capital AG 30.31% of their portfolio | 1.8m $116.1m | Reduced -123.2k |
| PAR CAPITAL MANAGEMENT INC 2.84% of their portfolio | 1.7m $114.5m | Unchanged |
| FIRST TRUST ADVISORS LP 0.07% of their portfolio | 1.7m $112.5m | Reduced -335.2k |
| Mitsubishi UFJ Asset Management Co., Ltd. 0.06% of their portfolio | 1.7m $109.4m | Added +110.7k |
| Vanguard Global Advisers, LLC 0.05% of their portfolio | 1.5m $101.6m | Reduced -9.4k |
| National Pension Service 0.06% of their portfolio | 1.5m $99.3m | Added +134.9k |
| Styrax Capital, LP 6.51% of their portfolio | 1.5m $98.7m | Unchanged |
| Sumitomo Mitsui Trust Group, Inc. 0.06% of their portfolio | 1.5m $98.2m | Added +42.9k |
| BNP PARIBAS FINANCIAL MARKETS 0.05% of their portfolio | 1.4m $91.8m | Added +73.9k |
| LORD, ABBETT & CO. LLC 0.26% of their portfolio | 1.4m $91.6m | Added +44.0k |
| VANGUARD ASSET MANAGEMENT, Ltd 0.06% of their portfolio | 1.3m $86.5m | Added +150.4k |
| HSBC HOLDINGS PLC 0.04% of their portfolio | 1.3m $83.2m | Added +91.9k |
| RHUMBLINE ADVISERS 0.06% of their portfolio | 1.2m $80.3m | Reduced -114.4k |
| No Street GP LP 4.75% of their portfolio | 1.2m $79.1m | Reduced -183.7k |
| Senator Investment Group LP 2.73% of their portfolio | 1.1m $74.9m | Added +215.0k |
| General Equity Holdings LP 42.64% of their portfolio | 1.1m $71.4m | Reduced -158.1k |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP 0.06% of their portfolio | 1.0m $68.3m | Added +760.5k |
| SCOPUS ASSET MANAGEMENT, L.P. 1.58% of their portfolio | 1.0m $66.9m | Added +89.9k |
| NATIXIS ADVISORS, LLC 0.08% of their portfolio | 1.0m $66.8m | Added +205.6k |
| Spyglass Capital Management LLC 3.54% of their portfolio | 992.6k $65.3m | Added +155.7k |
| JONES FINANCIAL COMPANIES LLLP 0.02% of their portfolio | 991.1k $61.8m | Added +201.4k |
| PRIMECAP MANAGEMENT CO/CA/ 0.04% of their portfolio | 987.6k $65.0m | Unchanged |
| CALIFORNIA STATE TEACHERS RETIREMENT SYSTEM 0.06% of their portfolio | 970.3k $63.9m | Reduced -47.3k |
| California Public Employees Retirement System 0.04% of their portfolio | 964.1k $63.5m | Added +44.7k |
| BESSEMER GROUP INC 0.08% of their portfolio | 878.1k $57.8m | Reduced -10.8k |
| Kinetic Partners Management, LP 1.36% of their portfolio | 868.3k $57.2m | Added +6.2k |
| RAYMOND JAMES FINANCIAL INC 0.02% of their portfolio | 844.9k $55.6m | Reduced -957.8k |
| TD Asset Management Inc 0.05% of their portfolio | 817.0k $53.8m | Reduced -16.1k |
| Electron Capital Partners, LLC 2.14% of their portfolio | 813.1k $53.5m | New |
| BARCLAYS PLC 0.02% of their portfolio | 811.1k $53.4m | Reduced -685.3k |
| PRINCIPAL FINANCIAL GROUP INC 0.03% of their portfolio | 804.0k $52.9m | Reduced -3.1k |
| Palestra Capital Management LLC 1.78% of their portfolio | 795.6k $52.4m | Reduced -1.2m |
| ALLIANCEBERNSTEIN L.P. 0.08% of their portfolio | 782.0k $245.8m | Added +7.8k |
| 3G Capital Partners LP 13.67% of their portfolio | 775.0k $51.0m | Added +87.5k |
| GOLDENTREE ASSET MANAGEMENT LP 2.96% of their portfolio | 774.3k $50.9m | New |
| Allspring Global Investments Holdings, LLC 0.08% of their portfolio | 764.2k $51.9m | Reduced -327.6k |
| Steadview Capital Management LLC 14.96% of their portfolio | 755.6k $49.7m | Added +22.3k |
| 683 Capital Management, LLC 4.54% of their portfolio | 750.0k $49.4m | Reduced -25.0k |
| WORLDQUANT MILLENNIUM ADVISORS LLC 0.17% of their portfolio | 740.8k $48.8m | New |
| NORDEA INVESTMENT MANAGEMENT AB 0.04% of their portfolio | 733.1k $46.0m | Added +8.1k |
| NEW YORK STATE COMMON RETIREMENT FUND 0.06% of their portfolio | 699.7k $46.1m | Added +352.3k |