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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
HFM
601
Harvest Fund Management
China
$154K +$126K +2,290 New
AssetMark Inc
602
AssetMark Inc
California
$149K +$99.3K +1,810 +458%
PS
603
Principal Securities
Iowa
$147K +$19.2K +350 +19%
SAM
604
Smartleaf Asset Management
Massachusetts
$146K -$23.3K -425 -16%
A
605
AlphaQuest
New York
$143K +$34K +620 +41%
SS
606
SBI Securities
Japan
$140K -$82.3K -1,500 -42%
IA
607
IFP Advisors
Florida
$128K -$108K -1,970 -62%
CMBA
608
C.M. Bidwell & Associates
Hawaii
$120K
GWM
609
Geneos Wealth Management
Colorado
$115K -$65.3K -1,190 -41%
CFB
610
Cullen/Frost Bankers
Texas
$109K -$17K -310 -16%
UB
611
UMB Bank
Missouri
$109K +$74K +1,350 +519%
VCM
612
Versant Capital Management
Arizona
$108K +$8.5K +155 +11%
EAM
613
Erste Asset Management
Austria
$107K +$95.4K +1,740 New
GBT
614
Grove Bank & Trust
Florida
$103K +$56.5K +1,030 +208%
AAG
615
Armstrong Advisory Group
Massachusetts
$96K +$78.1K +1,425 New
BIG
616
Brooklyn Investment Group
New York
$94.8K +$39.5K +720 +104%
Pacer Advisors
617
Pacer Advisors
Pennsylvania
$92K +$74K +1,350 +9,000%
ACM
618
Aster Capital Management
United Arab Emirates
$92K +$74.8K +1,365 New
PFBT
619
Parkside Financial Bank & Trust
Missouri
$90K +$16.7K +305 +30%
OAM
620
Ostrum Asset Management
France
$86.9K -$2.19K -40 -3%
CAL
621
Capital Advisors Ltd
Ohio
$86K -$548 -10 -0.8%
RI
622
Ridgewood Investments
New Jersey
$84.2K
VSQM
623
V-Square Quantitative Management
Illinois
$82.6K +$67.2K +1,225 New
BTI
624
Blue Trust Inc
Georgia
$76.2K -$17K -310 -22%
HNB
625
Huntington National Bank
Ohio
$71.4K +$36.5K +665 +168%

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.