Graham Capital Management’s Carvana CVNA Stock Holding History

Graham Capital Management’s Portfolio CVNA Stock Details CVNA Fund Activity

Bought

Maintained

Sold

Quarter	Market Value	Status	Shares	Change in Stake	Trade Value	Portfolio Weight	Portfolio Position
2025 Q4	–	Sell	-28,045	Closed	-$2.12M	–	1295
2025 Q3	$2.12M	Sell	28,045 -11,350	-29%	-$812K	0.03%	219
2025 Q2	$2.65M	Sell	39,395 -27,270	-41%	-$1.5M	0.04%	282
2025 Q1	$2.79M	Buy	66,665 +29,085	+77%	+$1.29M	0.05%	242
2024 Q4	$1.53M	Sell	37,580 -27,030	-42%	-$1.21M	0.02%	377
2024 Q3	$2.25M	Buy	64,610 +22,665	+54%	+$651K	0.04%	250
2024 Q2	$1.08M	Buy	41,945 +22,760	+119%	+$458K	0.02%	398
2024 Q1	$337K	Sell	19,185 -42,870	-69%	-$523K	0.01%	743
2023 Q4	$657K	Buy	+62,055	New	+$465K	0.01%	507
2022 Q3	–	Sell	-281,950	Closed	-$1.27M	–	1107
2022 Q2	$1.27M	Buy	+281,950	New	+$2.97M	0.05%	353
2021 Q4	–	Sell	-119,090	Closed	-$7.18M	–	530
2021 Q3	$7.18M	Buy	+119,090	New	+$7.92M	0.37%	42
2021 Q2	–	Sell	-75,000	Closed	-$3.94M	–	123
2021 Q1	$3.94M	Buy	+75,000	New	+$4.13M	0.18%	91

Other funds holding CVNA

T. Rowe Price Associates Baltimore, Maryland $865B AUM 30.76% 1-Year Est. Return

Vanguard Group Malvern, Pennsylvania $6.9T AUM 27.45% 1-Year Est. Return

BlackRock New York $5.72T AUM 30.48% 1-Year Est. Return

JP Morgan Chase New York $1.56T AUM 27.86% 1-Year Est. Return

Fidelity Investments Boston, Massachusetts $1.9T AUM 41.92% 1-Year Est. Return

State Street Boston, Massachusetts $2.9T AUM 29.55% 1-Year Est. Return

Capital Research Global Investors Los Angeles, California $645B AUM 30.41% 1-Year Est. Return

CIP

CAS Investment Partners Westport, Connecticut $1.75B AUM 41.95% 1-Year Est. Return

GCP

Greenoaks Capital Partners Orinda, California $2.3B AUM 19.87% 1-Year Est. Return

Geode Capital Management Boston, Massachusetts $1.61T AUM 30.72% 1-Year Est. Return

Graham Capital Management's CVNA Position: Q4 2025 in Review

Graham Capital Management sold out of Carvana (CVNA) in Q4 2025, closing a stake of 28,045 shares — an estimated $2.12M sold.

Graham Capital Management first reported a position in CVNA in Q1 2021 and held it in 11 quarters. The position peaked at $7.18M in Q3 2021. 850 funds tracked by Wall St. Rank hold CVNA as of Q4 2025.

Graham Capital Management reported no remaining Carvana position as of Q4 2025 after selling out during the quarter.
Graham Capital Management sold 28,045 Carvana shares in Q4 2025, an estimated $2.12M.
Graham Capital Management first reported a position in Carvana in Q1 2021 and held it in 11 quarters.
Graham Capital Management's Carvana position peaked at $7.18M in Q3 2021.
850 funds tracked by Wall St. Rank held Carvana as of Q4 2025.

Based on Graham Capital Management's 13F filing for Q4 2025, filed 17 Feb 2026.