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Carvana
CVNA

82 hedge funds and large institutions have $298M invested in Carvana in 2017 Q3 according to their latest regulatory filings, with 21 funds opening new positions, 33 increasing their positions, 14 reducing their positions, and 21 closing their positions.

New
Increased
Maintained
Reduced
Closed

136% more repeat investments, than reductions

Existing positions increased: 33 | Existing positions reduced: 14

124.75% more ownership

Funds ownership: 529.23% → 653.98% (+125%)

14% more call options, than puts

Call options by funds: $9.63M | Put options by funds: $8.46M

0% more funds holding in top 10

Funds holding in top 10: 1 → 1 (0)

0% more first-time investments, than exits

New positions opened: 21 | Existing positions closed: 21

2% less funds holding

Funds holding: 84 → 82 (-2)

8% less capital invested

Capital invested by funds: $326M → $298M (-$27.6M)

Holders
82
Holders Change
-2
Holders Change %
-2.38%
% of All Funds
2.04%
Holding in Top 10
1
Holding in Top 10 Change
–
Holding in Top 10 Change %
–
% of All Funds
0.02%
New
21
Increased
33
Reduced
14
Closed
21
Calls
$9.63M
Puts
$8.46M
Net Calls
+$1.17M
Net Calls Change
+$3.4M

Top Buyers

1
Fidelity Investments
Fidelity Investments
Massachusetts
+$16.2M
2
SCH
Sylebra Capital (HK)
Hong Kong
+$15.4M
3
CCP
Clough Capital Partners
Massachusetts
+$12.3M
4
Balyasny Asset Management
Balyasny Asset Management
Illinois
+$10.9M
5
PCM
PAR Capital Management
Massachusetts
+$6.56M

Top Sellers

1
PWAM
Park West Asset Management
California
-$18.3M
2
O
OppenheimerFunds
New York
-$9.12M
3
Citadel Advisors
Citadel Advisors
Florida
-$3.51M
4
Royal Bank of Canada
Royal Bank of Canada
Ontario, Canada
-$2.71M
5
Two Sigma Investments
Two Sigma Investments
New York
-$2.23M
Name Holding Trade Value Shares
Change 		Change in
Stake
SC
26
Shellback Capital
Massachusetts
$2.23M -$775K -212,455 -22%
Goldman Sachs
27
Goldman Sachs
New York
$2.22M +$1.31M +360,135 +91%
Norges Bank
28
Norges Bank
Norway
$2.2M – – –
Northern Trust
29
Northern Trust
Illinois
$2.17M -$289K -79,310 -10%
MWNA
30
Marshall Wace North America
New York
$2M +$2.43M +666,860 New
SIM
31
Spark Investment Management
New York
$1.99M +$447K +122,500 +22%
Geode Capital Management
32
Geode Capital Management
Massachusetts
$1.89M -$129K -35,495 -5%
ACM
33
Altimeter Capital Management
Massachusetts
$1.46M -$370K -101,600 -17%
TCIM
34
TIAA CREF Investment Management
New York
$1.38M +$976K +267,745 +132%
Bank of America
35
Bank of America
North Carolina
$1.28M +$1.46M +401,475 +1,196%
TA
36
Teachers Advisors
New York
$1.2M +$990K +271,370 +196%
JG
37
Jefferies Group
New York
$1.17M +$1.46M +400,000 New
NI
38
Numeric Investors
Massachusetts
$969K +$1.2M +330,000 New
Wells Fargo
39
Wells Fargo
California
$905K +$109K +29,990 +11%
HCS
40
Harvest Capital Strategies
California
$734K -$380K -104,285 -29%
TIM
41
Thornburg Investment Management
New Mexico
$717K – – –
Deutsche Bank
42
Deutsche Bank
Germany
$701K +$546K +149,665 +167%
NFA
43
Nationwide Fund Advisors
Ohio
$635K +$631K +173,105 +400%
FG
44
Formula Growth
Quebec, Canada
$514K +$273K +75,000 +75%
UBS Group
45
UBS Group
Switzerland
$510K +$47.7K +13,080 +8%
MVP
46
Miller Value Partners
Florida
$440K – – –
VF
47
Virtu Financial
New York
$429K +$533K +146,250 New
CSS
48
Cubist Systematic Strategies
Connecticut
$375K +$236K +64,775 +103%
Bank of Montreal
49
Bank of Montreal
Ontario, Canada
$374K +$465K +127,500 New
Charles Schwab
50
Charles Schwab
California
$365K – – –
1
2
3 4 5

CVNA Hedge Fund Activity: Q3 2017 in Review

82 of the 4,011 institutional investors tracked by Wall St. Rank reported a position in Carvana (CVNA) for Q3 2017, worth a combined $298M — down 8.5% from $326M a quarter earlier.

Fund positioning in CVNA was balanced in Q3 2017: 21 funds opened new positions, 21 closed out, 33 added to existing stakes and 14 trimmed.

The largest buyer was Fidelity Investments, adding an estimated $16.2M. The largest seller was Park West Asset Management, exiting entirely with an estimated $18.3M sold.

  • 82 institutional investors held Carvana (CVNA) as of Q3 2017, down from 84 in Q2 2017.
  • Funds reported $298M of Carvana stock for Q3 2017, down 8.5% quarter-over-quarter.
  • 21 funds opened new Carvana positions in Q3 2017 and 21 closed out, a net change of 0 holders.
  • The largest Carvana buyer in Q3 2017 was Fidelity Investments, an estimated $16.2M added.
  • The largest Carvana seller in Q3 2017 was Park West Asset Management, an estimated $18.3M sold.

Based on aggregated 13F filings for Q3 2017.