Sands Capital Management’s Carvana CVNA Stock Holding History

Sands 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
2026 Q1	$666M	Sell	10,586,240 -1,626,430	-13%	-$121M	2.61%	14
2025 Q4	$1.03B	Buy	12,212,670 +3,755,095	+44%	+$279M	3.14%	8
2025 Q3	$638M	Buy	8,457,575 +3,951,440	+88%	+$283M	1.76%	23
2025 Q2	$304M	Buy	4,506,135 +4,200,480	+1,374%	+$230M	0.87%	32
2025 Q1	$12.8M	Buy	+305,655	New	+$13.5M	0.04%	69
2022 Q1	–	Sell	-5,984,870	Closed	-$277M	–	70
2021 Q4	$277M	Sell	5,984,870 -221,595	-4%	-$12.2M	0.51%	40
2021 Q3	$374M	Sell	6,206,465 -45,995	-0.7%	-$3.06M	0.62%	39
2021 Q2	$377M	Buy	+6,252,460	New	+$340M	0.64%	42

Other funds holding CVNA

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

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

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

VCM

Vanguard Capital Management Malvern, Pennsylvania $4.04T AUM

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

VPM

Vanguard Portfolio Management Malvern, Pennsylvania $1.91T AUM

State Street Boston, Massachusetts $2.9T AUM 29.55% 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

Sands Capital Management's CVNA Position: Q1 2026 in Review

Sands Capital Management reduced its Carvana (CVNA) stake by 13% in Q1 2026, selling an estimated $121M and leaving 10,586,240 shares worth $666M. The position accounts for 2.61% of the portfolio, ranked #14.

Sands Capital Management first reported a position in CVNA in Q2 2021 and has held it in 8 quarters since. The position peaked at $1.03B in Q4 2025. 775 funds tracked by Wall St. Rank hold CVNA as of Q1 2026.

Sands Capital Management held 10,586,240 shares of Carvana worth $666M as of Q1 2026.
Sands Capital Management sold 1,626,430 Carvana shares in Q1 2026, an estimated $121M.
Carvana made up 2.61% of Sands Capital Management's portfolio in Q1 2026, its #14 holding.
Sands Capital Management first reported a position in Carvana in Q2 2021 and has held it in 8 quarters since.
Sands Capital Management's Carvana position peaked at $1.03B in Q4 2025.
775 funds tracked by Wall St. Rank held Carvana as of Q1 2026.

Based on Sands Capital Management's 13F filing for Q1 2026, filed 8 May 2026.