We are live on ! Find out more
CVNA icon

Carvana
CVNA

740 hedge funds and large institutions have $44.6B invested in Carvana in 2025 Q2 according to their latest regulatory filings, with 198 funds opening new positions, 286 increasing their positions, 202 reducing their positions, and 67 closing their positions.

New
Increased
Maintained
Reduced
Closed

196% more first-time investments, than exits

New positions opened: 198 | Existing positions closed: 67

73% more capital invested

Capital invested by funds: $25.8B → $44.6B (+$18.8B)

47% more call options, than puts

Call options by funds: $7.79B | Put options by funds: $5.29B

42% more repeat investments, than reductions

Existing positions increased: 286 | Existing positions reduced: 202

30.01% more ownership

Funds ownership: 459.59% → 489.6% (+30%)

21% more funds holding

Funds holding: 613 → 740 (+127)

3% less funds holding in top 10

Funds holding in top 10: 40 → 39 (-1)

Holders
740
Holders Change
+127
Holders Change %
+20.72%
% of All Funds
9.74%
Holding in Top 10
39
Holding in Top 10 Change
-1
Holding in Top 10 Change %
-2.5%
% of All Funds
0.51%
New
198
Increased
286
Reduced
202
Closed
67
Calls
$7.79B
Puts
$5.29B
Net Calls
+$2.51B
Net Calls Change
+$1.81B

Top Buyers

Rank Fund Capital Flow
1
JP Morgan Chase
JP Morgan Chase
New York
+$850M
2
Capital Research Global Investors
Capital Research Global Investors
California
+$694M
3
BlackRock
BlackRock
New York
+$584M
4
D.E. Shaw & Co
D.E. Shaw & Co
New York
+$400M
5
Coatue Management
Coatue Management
New York
+$347M

Top Sellers

Rank Fund Capital Flow
1
Fidelity Investments
Fidelity Investments
Massachusetts
-$911M
2
TCMNY
Thrive Capital Management (New York)
New York
-$560M
3
Viking Global Investors
Viking Global Investors
Connecticut
-$405M
4
DCP
Durable Capital Partners
Maryland
-$285M
5
CIP
CAS Investment Partners
Connecticut
-$209M
Name Holding Trade Value Shares
Change 		Change in
Stake
Calamos Advisors
301
Calamos Advisors
Illinois
$2.63M +$953K +17,385 +80%
SCM
302
Scopia Capital Management
New York
$2.62M +$2.13M +38,860 New
KM
303
KP Management
Minnesota
$2.53M -$685K -12,500 -25%
AS
304
Aware Super
Australia
$2.5M – – –
VIM
305
Vinva Investment Management
Australia
$2.48M +$1.54M +28,095 +261%
Cambridge Investment Research Advisors
306
Cambridge Investment Research Advisors
Iowa
$2.42M +$534K +9,735 +37%
KPWS
307
Kestra Private Wealth Services
Texas
$2.3M +$211K +3,840 +13%
LCM
308
Landscape Capital Management
New Jersey
$2.26M -$465K -8,475 -20%
Truist Financial
309
Truist Financial
North Carolina
$2.23M +$1.81M +33,035 New
Corient Private Wealth
310
Corient Private Wealth
Florida
$2.19M +$1.21M +22,110 +213%
US Bancorp
311
US Bancorp
Minnesota
$2.16M +$273K +4,970 +18%
PWM
312
Pinnacle Wealth Management
California
$2.15M +$744K +13,565 +74%
WAM
313
Wakefield Asset Management
Colorado
$2.13M +$1.73M +31,580 New
MSRPS
314
Maryland State Retirement & Pension System
Maryland
$2.1M +$325K +5,920 +23%
WHGC
315
Wealth High Governance Capital
Brazil
$2.09M +$1.7M +31,000 New
Rafferty Asset Management
316
Rafferty Asset Management
New York
$2.09M -$82.3K -1,500 -5%
PI
317
Point72 Italy
Italy
$2.08M -$1.68M -30,695 -50%
WAM
318
Wolverine Asset Management
Illinois
$2.06M -$603K -11,000 -27%
DS
319
DRW Securities
Illinois
$2.05M +$473K +8,625 +39%
VI
320
Versor Investments
New York
$2.02M -$3.12M -56,910 -66%
HCMT
321
Highland Capital Management (Tennessee)
Tennessee
$1.99M -$45.5K -830 -3%
KeyBank National Association
322
KeyBank National Association
Ohio
$1.99M +$220K +4,005 +16%
GIBU
323
Gulf International Bank (UK)
United Kingdom
$1.99M -$324K -5,900 -17%
UOTTAIMCU
324
University of Texas/Texas AM Investment Management Co (UTIMCO)
Texas
$1.96M – – –
Aberdeen Group
325
Aberdeen Group
United Kingdom
$1.96M +$598K +10,900 +60%
11 12
13
14 15

CVNA Hedge Fund Activity: Q2 2025 in Review

740 of the 7,595 institutional investors tracked by Wall St. Rank reported a position in Carvana (CVNA) for Q2 2025, worth a combined $44.6B — up 73% from $25.8B a quarter earlier.

Buyers outnumbered sellers: 198 funds opened new CVNA positions and 67 closed out — a net gain of 131 holders — while 286 added to existing stakes and 202 trimmed.

The largest buyer was JP Morgan Chase, adding an estimated $850M. The largest seller was Fidelity Investments, cutting an estimated $911M.

  • 740 institutional investors held Carvana (CVNA) as of Q2 2025, up from 613 in Q1 2025.
  • Funds reported $44.6B of Carvana stock for Q2 2025, up 73% quarter-over-quarter.
  • 198 funds opened new Carvana positions in Q2 2025 and 67 closed out, a net change of +131 holders.
  • The largest Carvana buyer in Q2 2025 was JP Morgan Chase, an estimated $850M added.
  • The largest Carvana seller in Q2 2025 was Fidelity Investments, an estimated $911M sold.

Based on aggregated 13F filings for Q2 2025.