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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
Wellington Management Group
76
Wellington Management Group
Massachusetts
$85.2M +$12.6M +230,460 +22%
Holocene Advisors
77
Holocene Advisors
New York
$84.2M -$103M -1,876,225 -60%
Deutsche Bank
78
Deutsche Bank
Germany
$83.6M -$4.92M -89,800 -7%
Franklin Resources
79
Franklin Resources
California
$83.3M +$60.3M +1,100,295 +807%
SC
80
Styrax Capital
New York
$81.7M +$66.5M +1,211,850 New
SCM
81
Steadfast Capital Management
New York
$81.2M -$11.1M -203,280 -14%
GEH
82
General Equity Holdings
New York
$79.5M -$45.3M -826,455 -41%
Capital Fund Management (CFM)
83
Capital Fund Management (CFM)
France
$76.5M +$49.2M +897,630 +377%
TCMNY
84
Thrive Capital Management (New York)
New York
$76.4M -$560M -10,204,245 -90%
California Public Employees Retirement System
85
California Public Employees Retirement System
California
$75.6M +$11.4M +208,545 +23%
MGCM
86
Mane Global Capital Management
New York
$74.7M -$19.1M -348,840 -24%
KPM
87
Kinetic Partners Management
Florida
$65.7M +$9.33M +170,210 +21%
DSCM
88
Divisadero Street Capital Management
Florida
$65.1M +$7.81M +142,395 +17%
Primecap Management
89
Primecap Management
California
$64.4M -$2.19M -39,875 -4%
BC
90
BIT Capital
Germany
$64.3M -$6.32M -115,255 -11%
Connor, Clark & Lunn Investment Management (CC&L)
91
Connor, Clark & Lunn Investment Management (CC&L)
British Columbia, Canada
$63.9M +$50.6M +922,760 +3,692%
California State Teachers Retirement System (CalSTRS)
92
California State Teachers Retirement System (CalSTRS)
California
$63.7M +$1.72M +31,330 +3%
National Pension Service
93
National Pension Service
South Korea
$63.6M +$468K +8,535 +0.9%
AG
94
Avala Global
New York
$63M -$34.7M -633,320 -40%
RhumbLine Advisers
95
RhumbLine Advisers
Massachusetts
$58.4M -$9.71M -177,100 -17%
Allspring Global Investments
96
Allspring Global Investments
North Carolina
$57.4M -$21.9M -400,020 -32%
MCM
97
Moore Capital Management
New York
$56.4M +$45.7M +832,780 +17,278%
Canada Pension Plan Investment Board
98
Canada Pension Plan Investment Board
Ontario, Canada
$56.3M -$6.8M -124,080 -13%
Healthcare of Ontario Pension Plan (HOOPP) Trust Fund
99
Healthcare of Ontario Pension Plan (HOOPP) Trust Fund
Ontario, Canada
$55.5M -$35.2M -642,100 -44%
SIG
100
Senator Investment Group
New York
$54.2M -$68.5M -1,250,000 -61%

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.