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 ($74.7m this quarter). Holder counts are more reliable. Implied quarter-end price ≈ $313.92. Options: 52 managers hold calls ($6.5bn notional), 64 hold puts ($5.3bn).
Trends to Q1 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 |
Buyers vs sellers
Managers adding to or starting a position, vs cutting or selling out
Numbers
| Quarter | Bought or added | Cut or sold out |
|---|---|---|
| Q2 2024 | 241 | 155 |
| 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 |
Calls vs puts
Options held, notional value, last 4 quarters. P/C = puts ÷ calls
Numbers
| Quarter | Calls | Puts | P/C |
|---|---|---|---|
| Q2 2025 | $7.9bn | $4.6bn | 0.58 |
| Q3 2025 | $8.2bn | $5.3bn | 0.64 |
| Q4 2025 | $9.8bn | $7.2bn | 0.73 |
| Q1 2026 | $6.5bn | $5.3bn | 0.81 |
Biggest buyers
| Capital Research Global Investors | Added | +5.1m |
| Capital International Investors | New | +3.3m |
| Aspex Management (HK) Ltd | New | +1.8m |
| VIKING GLOBAL INVESTORS LP | Added | +1.7m |
| FMR LLC | Added | +1.5m |
| Capital World Investors | Added | +1.3m |
| D1 Capital Partners L.P. | New | +668.4k |
| Dream Peak Capital Ltd | Added | +411.2k |
| JENNISON ASSOCIATES LLC | New | +313.1k |
| Dragoneer Investment Group, LLC | Added | +273.5k |
Biggest sellers
| JPMORGAN CHASE & CO | Reduced | -3.6m |
| COATUE MANAGEMENT LLC | Reduced | -1.3m |
| Invesco Ltd. | Reduced | -910.5k |
| Castle Hook Partners LP | Sold out | -695.1k |
| TWO SIGMA INVESTMENTS, LP | Reduced | -373.8k |
| LORD, ABBETT & CO. LLC | Reduced | -334.1k |
| BANK OF AMERICA CORP /DE/ | Reduced | -333.5k |
| SANDS CAPITAL MANAGEMENT, LLC | Reduced | -325.3k |
| TWO SIGMA ADVISERS, LP | Sold out | -309.3k |
| Lingotto Investment Management LLP | Reduced | -307.1k |
Biggest calls
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | Reduced | $2.0bn6.4m shares |
| CITADEL ADVISORS LLC | Added | $1.4bn4.5m shares |
| JANE STREET GROUP, LLC | Reduced | $872.6m2.8m shares |
| IMC-Chicago, LLC | Reduced | $489.6m1.6m shares |
| BARCLAYS PLC | Reduced | $213.5m679.0k shares |
| Walleye Trading LLC | Added | $193.9m616.9k shares |
| Squarepoint Ops LLC | Added | $193.3m614.9k shares |
| Caption Management, LLC | Reduced | $182.2m579.5k shares |
| HRT FINANCIAL LP | Added | $180.1m573.0k shares |
| SIMPLEX TRADING, LLC | Added | $161.0m512.2k shares |
Biggest puts
| CITIGROUP INC | Added | $1.9bn6.0m shares |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | Reduced | $761.8m2.4m shares |
| CITADEL ADVISORS LLC | Reduced | $657.9m2.1m shares |
| JANE STREET GROUP, LLC | Added | $375.7m1.2m shares |
| Caption Management, LLC | Added | $357.6m1.1m shares |
| IMC-Chicago, LLC | New | $323.8m1.0m shares |
| SIMPLEX TRADING, LLC | New | $126.4m402.1k shares |
| GROUP ONE TRADING LLC | New | $101.1m321.5k shares |
| D. E. Shaw & Co., Inc. | Reduced | $69.0m219.4k shares |
| PEAK6 LLC | Reduced | $68.3m217.1k 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 Q1 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 |
|---|---|---|---|---|---|
| Q2 2024 | 0 | — | 11 | $57.7m | $39.7m |
| Q3 2024 | 0 | — | 4 | $24.0m | $24.0m |
| 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 |
| Date | Insider | Trade | Value |
|---|---|---|---|
| 2026-03-16 | MAROONE MICHAEL E Director · By Family Trust FBO Michael E. Maroone | Sold | $6222 shares |
| 2026-03-09 | QUAYLE J DANFORTH Director | Sold | $898.9k2.9k shares |
| 2026-03-09 | Taira Thomas President, Special Projects | Sold plan | $309.7k953 shares |
| 2026-03-02 | JENKINS MARK W. Chief Financial Officer | Sold plan | $4.1m12.8k shares |
| 2026-03-02 | HUSTON BENJAMIN E. Chief Operating Officer | Sold plan | $3.2m10.0k shares |
| 2026-03-02 | Palmer Stephen R Vice President of Accounting | Sold plan | $324.8k1.0k shares |
| 2026-02-09 | Taira Thomas President, Special Projects | Sold plan | $417.3k1.0k shares |
| 2026-02-09 | MAROONE MICHAEL E Director · By Family Trust FBO Michael E. Maroone | Sold | $1.2k3 shares |
| 2026-02-02 | JENKINS MARK W. Chief Financial Officer | Sold plan | $5.2m12.8k shares |
| 2026-02-02 | HUSTON BENJAMIN E. Chief Operating Officer | Sold plan | $4.1m10.0k shares |
| 2026-02-02 | Palmer Stephen R Vice President of Accounting | Sold plan | $393.0k1.0k shares |
| 2026-01-08 | Taira Thomas President, Special Projects | Sold plan | $524.8k1.2k shares |
| 2026-01-08 | MAROONE MICHAEL E Director · By Family Trust FBO Michael E. Maroone | Bought | $2.2k5 shares |
| 2026-01-02 | JENKINS MARK W. Chief Financial Officer | Sold plan | $5.1m12.8k shares |
| 2026-01-02 | HUSTON BENJAMIN E. Chief Operating Officer | Sold plan | $4.0m10.0k shares |
| 2026-01-02 | Palmer Stephen R Vice President of Accounting | Sold plan | $419.5k1.0k 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, Q1 2026
| Manager | Shares | Change |
|---|---|---|
| PRICE T ROWE ASSOCIATES INC /MD/ 0.65% of their portfolio | 17.8m $5.6bn | Added +54.9k |
| BlackRock, Inc. 0.06% of their portfolio | 11.5m $3.6bn | Reduced -185.7k |
| Capital Research Global Investors 0.53% of their portfolio | 10.9m $3.4bn | Added +5.1m |
| VANGUARD CAPITAL MANAGEMENT LLC 0.07% of their portfolio | 9.0m $2.8bn | First filing |
| FMR LLC 0.12% of their portfolio | 7.4m $2.3bn | Added +1.5m |
| VANGUARD PORTFOLIO MANAGEMENT LLC 0.10% of their portfolio | 6.3m $2.0bn | First filing |
| STATE STREET CORP 0.06% of their portfolio | 5.7m $1.8bn | Reduced -21.8k |
| CAS Investment Partners, LLC 81.67% of their portfolio | 4.5m $1.4bn | Reduced -68.9k |
| GREENOAKS LLC 57.53% of their portfolio | 4.2m $1.3bn | Reduced -32.8k |
| GEODE CAPITAL MANAGEMENT, LLC 0.08% of their portfolio | 3.9m $1.2bn | Added +32.1k |
| Capital International Investors 0.25% of their portfolio | 3.3m $1.0bn | New |
| VIKING GLOBAL INVESTORS LP 2.44% of their portfolio | 2.8m $874.0m | Added +1.7m |
| Capital World Investors 0.11% of their portfolio | 2.6m $819.1m | Added +1.3m |
| Lingotto Investment Management LLP 15.88% of their portfolio | 2.5m $801.1m | Reduced -307.1k |
| JPMORGAN CHASE & CO 0.05% of their portfolio | 2.5m $737.7m | Reduced -3.6m |
| SPRUCE HOUSE INVESTMENT MANAGEMENT LLC 26.21% of their portfolio | 2.3m $734.1m | Added +60.0k |
| SANDS CAPITAL MANAGEMENT, LLC 2.61% of their portfolio | 2.1m $665.6m | Reduced -325.3k |
| Aspex Management (HK) Ltd 8.29% of their portfolio | 1.8m $571.9m | New |
| LONE PINE CAPITAL LLC 4.40% of their portfolio | 1.8m $551.6m | Reduced -24.6k |
| KPS Global Asset Management UK Ltd 76.21% of their portfolio | 1.5m $471.6m | Unchanged |
| MORGAN STANLEY 0.03% of their portfolio | 1.3m $423.9m | Reduced -178.2k |
| Dragoneer Investment Group, LLC 13.12% of their portfolio | 1.3m $393.9m | Added +273.5k |
| NORTHERN TRUST CORP 0.05% of their portfolio | 1.2m $381.4m | Added +24.1k |
| RENAISSANCE TECHNOLOGIES LLC 0.59% of their portfolio | 1.2m $377.6m | Reduced -206.2k |
| Invesco Ltd. 0.03% of their portfolio | 1.1m $335.3m | Reduced -910.5k |
| CHARLES SCHWAB INVESTMENT MANAGEMENT INC 0.05% of their portfolio | 1.0m $325.3m | Added +32.4k |
| Durable Capital Partners LP 3.22% of their portfolio | 995.7k $313.0m | Added +70.7k |
| MASSACHUSETTS FINANCIAL SERVICES CO /MA/ 0.10% of their portfolio | 924.8k $290.7m | Added +107.1k |
| UBS Group AG 0.05% of their portfolio | 923.5k $290.3m | Added +263.4k |
| Whale Rock Capital Management LLC 3.56% of their portfolio | 877.6k $275.9m | Reduced -193.2k |
| VANGUARD FIDUCIARY TRUST CO 0.06% of their portfolio | 809.8k $254.6m | First filing |
| Sachem Head Capital Management LP 5.98% of their portfolio | 790.0k $248.4m | Added +165.0k |
| WELLS FARGO & COMPANY/MN 0.05% of their portfolio | 769.2k $241.8m | Reduced -19.5k |
| UBS AM, a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC 0.05% of their portfolio | 745.9k $234.5m | Reduced -2.7k |
| FRANKLIN RESOURCES INC 0.06% of their portfolio | 734.0k $230.8m | Reduced -195.7k |
| GOODNOW INVESTMENT GROUP, LLC 24.95% of their portfolio | 724.4k $227.7m | Added +14.3k |
| Bank of New York Mellon Corp 0.04% of their portfolio | 710.3k $223.3m | Added +16.7k |
| COATUE MANAGEMENT LLC 0.74% of their portfolio | 681.0k $214.1m | Reduced -1.3m |
| D1 Capital Partners L.P. 1.87% of their portfolio | 668.4k $210.1m | New |
| National Philanthropic Trust 2.20% of their portfolio | 657.1k $206.6m | Reduced -19 |
| Legal & General Group Plc 0.05% of their portfolio | 654.2k $205.7m | Added +176 |
| GOLDMAN SACHS GROUP INC 0.03% of their portfolio | 633.8k $199.2m | Added +13.8k |
| DIMENSIONAL FUND ADVISORS LP 0.04% of their portfolio | 604.7k $190.0m | Added +57.0k |
| MASSACHUSETTS INSTITUTE OF TECHNOLOGY 31.51% of their portfolio | 578.3k $181.8m | Unchanged |
| Amundi 0.04% of their portfolio | 504.7k $158.7m | Added +7.6k |
| Dream Peak Capital Ltd 21.22% of their portfolio | 455.5k $143.2m | Added +411.2k |
| DEUTSCHE BANK AG\ 0.05% of their portfolio | 433.8k $136.4m | Added +117.5k |
| Nuveen, LLC 0.04% of their portfolio | 423.3k $133.1m | Reduced -35.3k |
| North Peak Capital Management, LLC 22.01% of their portfolio | 421.0k $132.3m | Added +30.9k |
| MAVERICK CAPITAL LTD 1.54% of their portfolio | 420.3k $132.1m | Reduced -41.6k |
| FIRST TRUST ADVISORS LP 0.09% of their portfolio | 408.8k $128.5m | Reduced -66.1k |
| WELLINGTON MANAGEMENT GROUP LLP 0.02% of their portfolio | 406.3k $127.7m | Reduced -3.5k |
| Palestra Capital Management LLC 4.91% of their portfolio | 398.0k $125.1m | Added +105.5k |
| Swiss National Bank 0.07% of their portfolio | 395.2k $124.2m | Added +35.7k |
| MANUFACTURERS LIFE INSURANCE COMPANY, THE 0.11% of their portfolio | 391.9k $123.2m | Reduced -24.9k |
| FEDERATED HERMES, INC. 0.20% of their portfolio | 386.8k $121.6m | Added +190.7k |
| BANK OF AMERICA CORP /DE/ 0.01% of their portfolio | 379.7k $119.4m | Reduced -333.5k |
| RV Capital AG 31.05% of their portfolio | 377.3k $118.8m | Added +73.9k |
| Selkirk Management LLC 39.03% of their portfolio | 365.2k $114.8m | Unchanged |
| RAYMOND JAMES FINANCIAL INC 0.03% of their portfolio | 360.5k $107.2m | Reduced -160.8k |
| PAR CAPITAL MANAGEMENT INC 3.18% of their portfolio | 347.9k $109.4m | Reduced -2.8k |
| JENNISON ASSOCIATES LLC 0.07% of their portfolio | 313.1k $98.4m | New |
| Vanguard Global Advisers, LLC 0.05% of their portfolio | 310.6k $97.6m | First filing |
| Mitsubishi UFJ Asset Management Co., Ltd. 0.07% of their portfolio | 310.1k $97.5m | Added +22.2k |
| AMERICAN CENTURY COMPANIES INC 0.05% of their portfolio | 308.9k $97.1m | Reduced -62.5k |
| Styrax Capital, LP 6.59% of their portfolio | 300.0k $94.3m | Added +74.7k |
| BARCLAYS PLC 0.03% of their portfolio | 299.3k $94.1m | Added +38.2k |
| Sumitomo Mitsui Trust Group, Inc. 0.06% of their portfolio | 289.8k $91.1m | Reduced -2.0k |
| NEUBERGER BERMAN GROUP LLC 0.07% of their portfolio | 287.4k $90.3m | Reduced -71.7k |
| No Street GP LP 5.82% of their portfolio | 277.0k $87.1m | Added +37.5k |
| National Pension Service 0.07% of their portfolio | 274.8k $86.4m | Added +20.7k |
| LORD, ABBETT & CO. LLC 0.28% of their portfolio | 269.5k $84.7m | Reduced -334.1k |
| RHUMBLINE ADVISERS 0.07% of their portfolio | 266.9k $83.9m | Added +387 |
| BNP PARIBAS FINANCIAL MARKETS 0.05% of their portfolio | 264.3k $83.1m | Reduced -51.3k |
| CITIGROUP INC 0.05% of their portfolio | 256.6k $80.7m | Added +46.3k |
| General Equity Holdings LP 58.02% of their portfolio | 248.6k $78.2m | Added +36.5k |
| HSBC HOLDINGS PLC 0.04% of their portfolio | 235.8k $73.8m | Reduced -207.7k |
| CAPITOLIS LIQUID GLOBAL MARKETS LLC 0.47% of their portfolio | 234.0k $73.6m | First filing |
| VANGUARD ASSET MANAGEMENT, Ltd 0.06% of their portfolio | 232.8k $73.2m | First filing |
| Thrive Capital Management, LLC 20.74% of their portfolio | 226.8k $71.3m | Unchanged |
| Divisadero Street Capital Management, LP 3.34% of their portfolio | 226.6k $71.2m | Added +8.4k |
| Avala Global LP 3.38% of their portfolio | 224.1k $70.4m | Added +9.9k |
| Allspring Global Investments Holdings, LLC 0.11% of their portfolio | 218.4k $68.1m | Reduced -11.2k |
| Point72 Asset Management, L.P. 0.12% of their portfolio | 215.0k $67.6m | Added +206.2k |
| CALIFORNIA STATE TEACHERS RETIREMENT SYSTEM 0.07% of their portfolio | 203.5k $64.0m | Reduced -379 |
| MILLENNIUM MANAGEMENT LLC 0.05% of their portfolio | 198.9k $62.5m | Added +198.1k |
| PRIMECAP MANAGEMENT CO/CA/ 0.05% of their portfolio | 197.5k $62.1m | Added +20.5k |
| SCOPUS ASSET MANAGEMENT, L.P. 1.83% of their portfolio | 185.4k $58.3m | New |
| Artisan Partners Limited Partnership 0.09% of their portfolio | 184.9k $58.1m | Reduced -105.2k |
| Senator Investment Group LP 2.67% of their portfolio | 184.6k $58.1m | Reduced -75.4k |
| California Public Employees Retirement System 0.04% of their portfolio | 183.9k $57.8m | Reduced -54.8k |
| BESSEMER GROUP INC 0.09% of their portfolio | 177.8k $55.9m | Added +4.7k |
| NATIXIS 0.22% of their portfolio | 176.7k $55.5m | Added +172.3k |
| RDST Capital LLC 5.29% of their portfolio | 174.8k $55.0m | Added +52.5k |
| Kinetic Partners Management, LP 3.03% of their portfolio | 172.4k $54.2m | Added +22.2k |
| Spyglass Capital Management LLC 3.73% of their portfolio | 167.4k $52.6m | Reduced -13.3k |
| TD Asset Management Inc 0.04% of their portfolio | 166.6k $52.4m | Reduced -5.1k |
| NATIXIS ADVISORS, LLC 0.07% of their portfolio | 161.8k $50.9m | Added +9.8k |
| PRINCIPAL FINANCIAL GROUP INC 0.03% of their portfolio | 161.4k $50.7m | Added +5.6k |
| 1832 Asset Management L.P. 0.07% of their portfolio | 160.1k $50.3m | Reduced -154.0k |