Carvana
CVNA
852 hedge funds and large institutions have $61.7B invested in Carvana in 2025 Q4 according to their latest regulatory filings, with 200 funds opening new positions, 325 increasing their positions, 251 reducing their positions, and 112 closing their positions.
79% more first-time investments, than exits
New positions opened: 200 | Existing positions closed: 112
29% more repeat investments, than reductions
Existing positions increased: 325 | Existing positions reduced: 251
25.09% more ownership
Funds ownership: 492.12% → 517.21% (+25%)
20% more capital invested
Capital invested by funds: $51.3B → $61.7B (+$10.4B)
19% more call options, than puts
Call options by funds: $9.75B | Put options by funds: $8.21B
16% more funds holding in top 10
Funds holding in top 10: 43 → 50 (+7)
10% more funds holding
Funds holding: 776 → 852 (+76)
Top Buyers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
Vanguard Group
Malvern,
Pennsylvania
|
+$1.24B |
| 2 |
State Street
Boston,
Massachusetts
|
+$1.03B |
| 3 |
BlackRock
New York
|
+$706M |
| 4 |
Capital Research Global Investors
Los Angeles,
California
|
+$636M |
| 5 |
T. Rowe Price Associates
Baltimore,
Maryland
|
+$523M |
Top Sellers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
SHIM
Spruce House Investment Management
New York
|
-$496M |
| 2 |
D.E. Shaw & Co
New York
|
-$432M |
| 3 |
Viking Global Investors
Stamford,
Connecticut
|
-$386M |
| 4 |
GCP
Greenoaks Capital Partners
Orinda,
California
|
-$382M |
| 5 |
CHP
Castle Hook Partners
New York
|
-$244M |
CVNA Hedge Fund Activity: Q4 2025 in Review
852 of the 8,265 institutional investors tracked by Wall St. Rank reported a position in Carvana (CVNA) for Q4 2025, worth a combined $61.7B — up 20% from $51.3B a quarter earlier.
Buyers outnumbered sellers: 200 funds opened new CVNA positions and 112 closed out — a net gain of 88 holders — while 325 added to existing stakes and 251 trimmed.
The largest buyer was Vanguard Group, adding an estimated $1.24B. The largest seller was Spruce House Investment Management, cutting an estimated $496M.
- 852 institutional investors held Carvana (CVNA) as of Q4 2025, up from 776 in Q3 2025.
- Funds reported $61.7B of Carvana stock for Q4 2025, up 20% quarter-over-quarter.
- 200 funds opened new Carvana positions in Q4 2025 and 112 closed out, a net change of +88 holders.
- The largest Carvana buyer in Q4 2025 was Vanguard Group, an estimated $1.24B added.
- The largest Carvana seller in Q4 2025 was Spruce House Investment Management, an estimated $496M sold.
Based on aggregated 13F filings for Q4 2025.