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Carvana

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: 613740 (+127)

3% less funds holding in top 10

Funds holding in top 10: 4039 (-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
Name Holding Trade Value Shares
Change
Change in
Stake
DCP
26
Durable Capital Partners
Maryland
$301M -$285M -5,202,475 -54%
Two Sigma Investments
27
Two Sigma Investments
New York
$278M +$64.8M +1,182,305 +40%
Norges Bank
28
Norges Bank
Norway
$259M +$65.8M +1,199,755 +45%
GIG
29
Goodnow Investment Group
Connecticut
$253M -$30M -547,600 -13%
Northern Trust
30
Northern Trust
Illinois
$252M +$17.2M +313,725 +9%
Invesco
31
Invesco
Georgia
$247M +$141M +2,565,460 +232%
Wells Fargo
32
Wells Fargo
California
$238M +$95.7M +1,744,975 +97%
Squarepoint
33
Squarepoint
New York
$236M -$152M -2,767,895 -44%
UBS AM
34
UBS AM
Illinois
$231M +$42.7M +779,385 +29%
Lord, Abbett & Co
35
Lord, Abbett & Co
New Jersey
$224M +$6.71M +122,330 +4%
NPT
36
National Philanthropic Trust
Pennsylvania
$220M -$1.65M -30,155 -0.9%
Voloridge Investment Management
37
Voloridge Investment Management
Florida
$217M +$177M +3,225,740 New
MIOT
38
Massachusetts Institute of Technology
Massachusetts
$213M +$174M +3,164,620 New
Capital World Investors
39
Capital World Investors
California
$211M +$115M +2,092,450 +202%
WRCM
40
Whale Rock Capital Management
Massachusetts
$196M -$156M -2,839,195 -49%
Dimensional Fund Advisors
41
Dimensional Fund Advisors
Texas
$195M +$11.8M +215,220 +8%
Raymond James Financial
42
Raymond James Financial
Florida
$195M +$80.6M +1,470,175 +104%
Massachusetts Financial Services
43
Massachusetts Financial Services
Massachusetts
$193M +$157M +2,865,190 New
T. Rowe Price Investment Management
44
T. Rowe Price Investment Management
Maryland
$190M -$35.5M -647,950 -19%
Legal & General Group
45
Legal & General Group
United Kingdom
$189M +$23.9M +435,510 +18%
Charles Schwab
46
Charles Schwab
California
$185M +$15.6M +283,680 +12%
Arrowstreet Capital
47
Arrowstreet Capital
Massachusetts
$183M +$149M +2,716,970 New
RC
48
RV Capital
Switzerland
$172M -$10.2M -185,810 -7%
First Trust Advisors
49
First Trust Advisors
Illinois
$162M -$6.31M -115,105 -5%
PCM
50
PAR Capital Management
Massachusetts
$157M +$24.7M +449,860 +24%

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.