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.
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)
Top Buyers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
JP Morgan Chase
New York
|
+$850M |
| 2 |
Capital Research Global Investors
Los Angeles,
California
|
+$694M |
| 3 |
BlackRock
New York
|
+$584M |
| 4 |
D.E. Shaw & Co
New York
|
+$400M |
| 5 |
Coatue Management
New York
|
+$347M |
Top Sellers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
Fidelity Investments
Boston,
Massachusetts
|
-$911M |
| 2 |
TCMNY
Thrive Capital Management (New York)
New York
|
-$560M |
| 3 |
Viking Global Investors
Stamford,
Connecticut
|
-$405M |
| 4 |
DCP
Durable Capital Partners
Bethesda,
Maryland
|
-$285M |
| 5 |
CIP
CAS Investment Partners
Westport,
Connecticut
|
-$209M |
| Name | Holding | Trade Value |
Shares Change |
Change in Stake |
|
|---|---|---|---|---|---|
|
TC
801
Trust Company
Manhattan,
Kansas
| – | -$1.67K | -40 | Closed |
|
|
SFGP
802
Stonebridge Financial Group (Pennsylvania)
Wormleysburg,
Pennsylvania
| – | -$1.25K | -30 | Closed |
|
|
MG
803
Mather Group
Chicago,
Illinois
| – | -$705 | -15 | Closed |
|
|
NC
804
North Capital
Salt Lake City,
Utah
| – | -$627 | -15 | Closed |
|
805
PEAK6
Chicago,
Illinois
| – | -$823 | -15 | Closed |
|
|
HHGA
806
Halbert Hargrove Global Advisors
Long Beach,
California
| – | -$147 | -5 | Closed |
|
|
PCTC
807
Perkins Coie Trust Company
Seattle,
Washington
| – | -$209 | -5 | Closed |
|
|
WBC
808
West Branch Capital
Amherst,
Massachusetts
| – | -$138 | -5 | Closed |
|
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.