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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
APC
151
Alta Park Capital
California
$18.9M -$1.98M -36,180 -11%
Mitsubishi UFJ Trust & Banking
152
Mitsubishi UFJ Trust & Banking
Japan
$18.5M +$1.33M +24,230 +10%
NCL
153
Nishkama Capital LLC
Puerto Rico
$18.4M -$3.8M -69,375 -20%
GAM
154
Gotham Asset Management
New York
$18.3M +$2.61M +47,645 +21%
Pictet Asset Management
155
Pictet Asset Management
Switzerland
$17.7M +$2.24M +40,875 +18%
ECM
156
ExodusPoint Capital Management
New York
$17.6M +$8.44M +153,835 +143%
Ensign Peak Advisors
157
Ensign Peak Advisors
Utah
$17.2M +$550K +10,025 +4%
DB
158
Danske Bank
Denmark
$16.7M +$1.14M +20,760 +9%
SG Americas Securities
159
SG Americas Securities
New York
$16.6M +$13.5M +245,910 New
Ohio Public Employees Retirement System (OPERS)
160
Ohio Public Employees Retirement System (OPERS)
Ohio
$16.5M +$4.31M +78,545 +47%
Nordea Investment Management
161
Nordea Investment Management
Sweden
$16.5M +$3.92M +71,455 +40%
Asset Management One
162
Asset Management One
Japan
$15.4M +$1.02M +18,575 +9%
MSV
163
MN Services Vermogensbeheer
Netherlands
$15.2M +$12.4M +226,000 New
KK
164
KLP Kapitalforvaltning
Norway
$14.9M +$1.43M +26,000 +13%
AQR Capital Management
165
AQR Capital Management
Connecticut
$14.3M -$1.81M -33,040 -13%
Victory Capital Management
166
Victory Capital Management
Texas
$13.8M +$168K +3,070 +2%
Marshall Wace
167
Marshall Wace
United Kingdom
$13.8M -$7.81M -142,375 -41%
State of New Jersey Common Pension Fund D
168
State of New Jersey Common Pension Fund D
New Jersey
$13.8M +$379K +6,905 +3%
Verition Fund Management
169
Verition Fund Management
Connecticut
$13M -$12.9M -235,470 -55%
RAM
170
Resona Asset Management
Japan
$12.6M +$1.03M +18,805 +11%
Nomura Asset Management
171
Nomura Asset Management
Japan
$12.5M +$842K +15,350 +9%
BMSSC
172
B. Metzler seel. Sohn & Co
Germany
$12.3M +$1.04M +18,925 +12%
William Blair & Company
173
William Blair & Company
Illinois
$12.2M -$2.36M -43,115 -19%
Principal Financial Group
174
Principal Financial Group
Iowa
$12M +$8.11M +147,830 +498%
ASRS
175
Arizona State Retirement System
Arizona
$11.9M +$519K +9,460 +6%

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.