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
* 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. Holder counts are more reliable. Implied quarter-end price ≈ $42.02. Options: 36 managers hold calls ($878.8m notional), 34 hold puts ($535.9m).
Trends to Q3 2023
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 |
Buyers vs sellers
Managers adding to or starting a position, vs cutting or selling out
Numbers
| Quarter | Bought or added | Cut or sold out |
|---|---|---|
| Q4 2022 | 115 | 163 |
| Q1 2023 | 88 | 121 |
| Q2 2023 | 128 | 97 |
| Q3 2023 | 126 | 136 |
Calls vs puts
Options held, notional value, last 4 quarters. P/C = puts ÷ calls
Numbers
| Quarter | Calls | Puts | P/C |
|---|---|---|---|
| Q4 2022 | $139.7m | $84.5m | 0.60 |
| Q1 2023 | $153.5m | $150.5m | 0.98 |
| Q2 2023 | $456.0m | $404.1m | 0.89 |
| Q3 2023 | $878.8m | $535.9m | 0.61 |
Biggest buyers
| PRICE T ROWE ASSOCIATES INC /MD/ | Added | +5.1m |
| BlackRock Inc. | Added | +3.9m |
| MORGAN STANLEY | Added | +1.8m |
| RENAISSANCE TECHNOLOGIES LLC | New | +1.4m |
| FIRST TRUST ADVISORS LP | New | +1.3m |
| Point72 Asset Management, L.P. | New | +549.8k |
| TD Asset Management Inc | New | +545.6k |
| GOLDMAN SACHS GROUP INC | Added | +502.3k |
| CHARLES SCHWAB INVESTMENT MANAGEMENT INC | Added | +280.9k |
| Driehaus Capital Management LLC | New | +265.6k |
Biggest sellers
| MILLENNIUM MANAGEMENT LLC | Reduced | -2.6m |
| BIT Capital GmbH | Sold out | -1.5m |
| JANE STREET GROUP, LLC | Reduced | -1.4m |
| GREENOAKS LLC | Reduced | -1.3m |
| BANK OF MONTREAL /CAN/ | Reduced | -1.3m |
| D. E. Shaw & Co., Inc. | Reduced | -1.1m |
| Pelham Capital Ltd. | Sold out | -769.4k |
| Thrive Capital Management, LLC | Reduced | -680.6k |
| Trexquant Investment LP | Reduced | -591.2k |
| Lingotto Investment Management LLP | Reduced | -559.2k |
Biggest calls
| JANE STREET GROUP, LLC | Added | $135.3m3.2m shares |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | Added | $99.5m2.4m shares |
| GROUP ONE TRADING LLC | Added | $92.3m2.2m shares |
| CITADEL ADVISORS LLC | Added | $86.9m2.1m shares |
| Luxor Capital Group, LP | Reduced | $74.1m1.8m shares |
| SIMPLEX TRADING, LLC | Reduced | $60.7m1.4m shares |
| IMC-Chicago, LLC | Added | $50.0m1.2m shares |
| D. E. Shaw & Co., Inc. | Added | $43.3m1.0m shares |
| NATIONAL BANK OF CANADA /FI/ | Added | $41.3m10.5k shares |
| WOLVERINE TRADING, LLC | Added | $36.5m869.4k shares |
Biggest puts
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | Added | $127.7m3.0m shares |
| NOMURA HOLDINGS INC | Added | $120.5m2.9m shares |
| CITADEL ADVISORS LLC | Reduced | $57.6m1.4m shares |
| D. E. Shaw & Co., Inc. | New | $40.8m971.0k shares |
| WOLVERINE TRADING, LLC | Added | $34.4m820.1k shares |
| Parallax Volatility Advisers, L.P. | Added | $22.7m541.5k shares |
| CARRONADE CAPITAL MANAGEMENT, LP | New | $21.0m500.0k shares |
| GTS SECURITIES LLC | New | $17.7m422.4k shares |
| 683 Capital Management, LLC | Reduced | $16.8m400.0k shares |
| FRANKLIN RESOURCES INC | Unchanged | $12.6m300.0k 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 in Q3 2023
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 2021 | 0 | — | 5 | $5.5m | — |
| Q1 2022 | 0 | — | 6 | — | — |
| Q2 2022 | 5 | $6.5m | 0 | — | — |
| Q3 2022 | 0 | — | 0 | — | — |
| Q4 2022 | 5 | $2.7m | 0 | — | — |
| Q1 2023 | 0 | — | 0 | — | — |
| Q2 2023 | 0 | — | 0 | — | — |
| Q3 2023 | 0 | — | 1 | $980.0k | $980.0k |
| Date | Insider | Trade | Value |
|---|---|---|---|
| 2023-09-11 | BREAUX PAUL W. Officer | Sold plan | $980.0k20.0k 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, Q3 2023
| Manager | Shares | Change |
|---|---|---|
| MORGAN STANLEY 0.06% of their portfolio | 14.8m $619.5m | Added +1.8m |
| SPRUCE HOUSE INVESTMENT MANAGEMENT LLC 37.32% of their portfolio | 10.0m $419.8m | Unchanged |
| VANGUARD GROUP INC 0.01% of their portfolio | 9.4m $393.3m | Added +62.8k |
| BlackRock Inc. 0.01% of their portfolio | 7.0m $292.7m | Added +3.9m |
| CAS Investment Partners, LLC 36.75% of their portfolio | 6.8m $286.6m | Unchanged |
| GREENOAKS LLC 31.36% of their portfolio | 6.0m $253.6m | Reduced -1.3m |
| PRICE T ROWE ASSOCIATES INC /MD/ 0.03% of their portfolio | 5.2m $217.5m | Added +5.1m |
| FMR LLC 0.02% of their portfolio | 4.7m $197.2m | Added +24.6k |
| Lingotto Investment Management LLP 10.41% of their portfolio | 4.6m $194.2m | Reduced -559.2k |
| D. E. Shaw & Co., Inc. 0.20% of their portfolio | 2.8m $118.2m | Reduced -1.1m |
| Thrive Capital Management, LLC 24.38% of their portfolio | 2.3m $95.2m | Reduced -680.6k |
| FPR PARTNERS LLC 5.13% of their portfolio | 2.3m $94.8m | Unchanged |
| TWO SIGMA ADVISERS, LP 0.24% of their portfolio | 2.2m $93.9m | Added +55.7k |
| STATE STREET CORP 0.01% of their portfolio | 2.2m $91.8m | Reduced -233.3k |
| TWO SIGMA INVESTMENTS, LP 0.25% of their portfolio | 2.1m $90.2m | Reduced -84.2k |
| GEODE CAPITAL MANAGEMENT, LLC 0.01% of their portfolio | 1.9m $81.4m | Added +39.4k |
| KPS Global Asset Management UK Ltd 35.49% of their portfolio | 1.6m $65.1m | Reduced -23.0k |
| GOODNOW INVESTMENT GROUP, LLC 10.19% of their portfolio | 1.4m $60.5m | Reduced -35.1k |
| RENAISSANCE TECHNOLOGIES LLC 0.10% of their portfolio | 1.4m $57.7m | New |
| FIRST TRUST ADVISORS LP 0.06% of their portfolio | 1.3m $53.2m | New |
| General Equity Holdings LP 54.48% of their portfolio | 1.1m $44.6m | Unchanged |
| NORTHERN TRUST CORP 0.01% of their portfolio | 888.5k $37.3m | Reduced -6.5k |
| GOLDMAN SACHS GROUP INC 0.01% of their portfolio | 873.8k $36.7m | Added +502.3k |
| CHARLES SCHWAB INVESTMENT MANAGEMENT INC 0.01% of their portfolio | 778.6k $32.7m | Added +280.9k |
| Steadview Capital Management LLC 12.82% of their portfolio | 758.4k $31.8m | Reduced -270.1k |
| BRIGHTLIGHT CAPITAL MANAGEMENT LP 20.98% of their portfolio | 711.7k $29.9m | Reduced -16.6k |
| MILLENNIUM MANAGEMENT LLC 0.03% of their portfolio | 686.9k $28.8m | Reduced -2.6m |
| RV Capital AG 8.15% of their portfolio | 636.1k $26.7m | Reduced -73.7k |
| VOLORIDGE INVESTMENT MANAGEMENT, LLC 0.12% of their portfolio | 580.9k $24.4m | Reduced -189.7k |
| Point72 Asset Management, L.P. 0.08% of their portfolio | 549.8k $23.1m | New |
| TD Asset Management Inc 0.03% of their portfolio | 545.6k $22.9m | New |
| Schusterman Interests, LLC 32.98% of their portfolio | 536.0k $22.5m | Unchanged |
| BANK OF AMERICA CORP /DE/ 0.00% of their portfolio | 529.6k $22.2m | Added +98.6k |
| GATES FOUNDATION TRUST 0.06% of their portfolio | 520.0k $21.8m | Unchanged |
| BANK OF MONTREAL /CAN/ 0.01% of their portfolio | 464.1k $25.2m | Reduced -1.3m |
| JANE STREET GROUP, LLC 0.03% of their portfolio | 459.0k $19.3m | Reduced -1.4m |
| Invesco Ltd. 0.00% of their portfolio | 440.2k $18.5m | Reduced -63.8k |
| INVESTMENTAKTIENGESELLSCHAFT FUER LANGFRISTIGE INVESTOREN TGV 1.46% of their portfolio | 425.0k $17.8m | Unchanged |
| PAR CAPITAL MANAGEMENT INC 0.63% of their portfolio | 402.0k $16.9m | Added +120.0k |
| Bank of New York Mellon Corp 0.00% of their portfolio | 360.6k $15.1m | Reduced -13.2k |
| Selkirk Management LLC 10.19% of their portfolio | 326.2k $13.7m | Added +10.0k |
| Driehaus Capital Management LLC 0.14% of their portfolio | 265.6k $11.1m | New |
| Nuveen Asset Management, LLC 0.00% of their portfolio | 263.6k $11.1m | Added +22.6k |
| Gotham Asset Management, LLC 0.22% of their portfolio | 254.6k $10.7m | Added +122.2k |
| Balyasny Asset Management L.P. 0.03% of their portfolio | 248.1k $10.4m | New |
| DIMENSIONAL FUND ADVISORS LP 0.00% of their portfolio | 237.8k $10.0m | New |
| TUDOR INVESTMENT CORP ET AL 0.15% of their portfolio | 236.7k $9.9m | Reduced -190.5k |
| Allianz Asset Management GmbH 0.02% of their portfolio | 235.0k $9.9m | New |
| SUSQUEHANNA FUNDAMENTAL INVESTMENTS, LLC 0.63% of their portfolio | 229.2k $9.6m | Unchanged |
| Avenir Management Company, LLC 19.29% of their portfolio | 201.2k $8.4m | Unchanged |
| Swiss National Bank 0.01% of their portfolio | 198.4k $8.3m | Added +2.1k |
| Alta Park Capital, LP 1.12% of their portfolio | 191.0k $8.0m | Reduced -89.3k |
| Anabranch Capital Management, LP 5.75% of their portfolio | 187.3k $7.9m | Unchanged |
| BNP PARIBAS FINANCIAL MARKETS 0.02% of their portfolio | 181.2k $7.6m | Added +63.8k |
| PANAGORA ASSET MANAGEMENT INC 0.05% of their portfolio | 180.4k $7.6m | Added +35.4k |
| Divisadero Street Capital Management, LP 1.98% of their portfolio | 150.0k $6.3m | Unchanged |
| RHUMBLINE ADVISERS 0.01% of their portfolio | 149.6k $6.3m | Added +4.8k |
| JPMORGAN CHASE & CO 0.00% of their portfolio | 143.5k $6.0m | Added +3.8k |
| Amundi 0.00% of their portfolio | 130.0k $4.4m | Added +73.5k |
| TWINBEECH CAPITAL LP 0.10% of their portfolio | 128.5k $5.4m | New |
| CITADEL ADVISORS LLC 0.01% of their portfolio | 123.1k $5.2m | Added +54.8k |
| BARCLAYS PLC 0.00% of their portfolio | 121.1k $5.1m | Added +60.5k |
| MANUFACTURERS LIFE INSURANCE COMPANY, THE 0.00% of their portfolio | 120.1k $5.0m | Added +82.4k |
| 3G Capital Partners LP 2.68% of their portfolio | 115.0k $4.8m | Added +55.0k |
| Penserra Capital Management LLC 0.10% of their portfolio | 115.0k $4.8m | Reduced -428.5k |
| ProShare Advisors LLC 0.02% of their portfolio | 115.0k $4.8m | Added +102.5k |
| ALLIANCEBERNSTEIN L.P. 0.00% of their portfolio | 112.9k $4.7m | Added +1.3k |
| CALIFORNIA STATE TEACHERS RETIREMENT SYSTEM 0.01% of their portfolio | 101.0k $4.2m | Reduced -10.2k |
| CREDIT SUISSE AG/ 0.00% of their portfolio | 100.0k $4.2m | Added +3.8k |
| Verition Fund Management LLC 0.05% of their portfolio | 89.4k $3.8m | Added +72.1k |
| Legal & General Group Plc 0.00% of their portfolio | 87.2k $3.7m | Added +3.9k |
| Taylor Frigon Capital Management LLC 2.03% of their portfolio | 87.2k $3.7m | Reduced -72.9k |
| SIMPLEX TRADING, LLC 0.13% of their portfolio | 87.2k $3.7m | New |
| Carnegie Investment Counsel 0.14% of their portfolio | 86.1k $3.6m | Reduced -75.4k |
| WOLVERINE TRADING, LLC 0.04% of their portfolio | 84.3k $3.5m | Added +19.8k |
| LANDSCAPE CAPITAL MANAGEMENT, L.L.C. 0.47% of their portfolio | 84.1k $3.5m | Reduced -41.0k |
| Mirae Asset Global Investments Co., Ltd. 0.01% of their portfolio | 82.7k $3.5m | Added +190 |
| UBS Group AG 0.00% of their portfolio | 81.6k $3.4m | Added +63.1k |
| UBS AM, a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC 0.00% of their portfolio | 79.5k $3.3m | Reduced -69.3k |
| STATE OF WISCONSIN INVESTMENT BOARD 0.01% of their portfolio | 74.6k $3.1m | Reduced -2.5k |
| Zweig-DiMenna Associates LLC 0.37% of their portfolio | 73.5k $3.1m | Unchanged |
| Jump Financial, LLC 0.11% of their portfolio | 73.3k $3.1m | New |
| Engineers Gate Manager LP 0.11% of their portfolio | 72.2k $3.0m | Added +55.6k |
| Quantbot Technologies LP 0.19% of their portfolio | 68.6k $2.9m | New |
| CANADA PENSION PLAN INVESTMENT BOARD 0.00% of their portfolio | 58.6k $2.5m | New |
| Raymond James Financial Services Advisors, Inc. 0.00% of their portfolio | 54.5k $2.3m | Reduced -15.8k |
| State of New Jersey Common Pension Fund D 0.01% of their portfolio | 52.4k $2.2m | New |
| Quadrature Capital Ltd 0.04% of their portfolio | 51.8k $2.2m | Reduced -105.2k |
| MetLife Investment Management, LLC 0.02% of their portfolio | 50.6k $2.1m | Unchanged |
| DEUTSCHE BANK AG\ 0.00% of their portfolio | 50.4k $2.1m | Added +6.1k |
| 683 Capital Management, LLC 0.21% of their portfolio | 50.0k $2.1m | New |
| Cutler Group LLC / CA 0.33% of their portfolio | 48.5k $2.0m | Added +48.2k |
| Harvest Investment Services, LLC 1.30% of their portfolio | 48.2k $2.0m | Added +33.4k |
| JANUS HENDERSON GROUP PLC 0.00% of their portfolio | 48.0k $2.0m | Added +10.0k |
| AMERICAN INTERNATIONAL GROUP, INC. 0.01% of their portfolio | 47.9k $2.0m | Added +1.7k |
| AMERIPRISE FINANCIAL INC 0.00% of their portfolio | 47.7k $2.0m | Reduced -26.4k |
| OSAIC HOLDINGS, INC. 0.00% of their portfolio | 47.0k $2.0m | Reduced -18.5k |
| Trexquant Investment LP 0.05% of their portfolio | 43.3k $1.8m | Reduced -591.2k |
| Must Asset Management Inc. 4.12% of their portfolio | 42.6k $1.7m | Added +17.0k |
| WOLVERINE ASSET MANAGEMENT LLC 0.03% of their portfolio | 40.8k $1.7m | Reduced -115.6k |