Stock Analysis
Data Source: SEC EDGAR 13F
Updated Hourly

Carvana Co (CVNA)

779 + Investors. Track Smart Money conviction in CVNA. See who's accumulating, reducing, or initiating positions.

Current Price
-- USD
Analyst Target
-- (0 analysts)
Upside
0.00%
Net Flow Q/Q
↓ -76
Streak
1Q ▼
Buyers last Q
47%

Smart Money Signals — CVNA

Based on 785 hedge funds · latest filing: 2026 Q1 · updated quarterly

📉

Selling streak — 1 quarter in a row

last 6Q
For 1 consecutive quarter, more hedge funds reduced or closed their CVNA positions than added to them. Sustained institutional selling is a meaningful warning sign — these are professionals with deep research teams collectively deciding to exit.
📊

High ownership — 91% of 3.0Y peak

91% of all-time peak
785 funds currently hold this stock — 91% of the 3.0-year high of 861 funds (reached 2025 Q4). Ownership is elevated but not yet at maximum concentration. Room to grow, but watch if the trend reverses.
🚀

Fast accumulation — +28% more funds vs a year ago

fund count last 6Q
+170 new funds entered over the past year (+28% YoY). That's a rapid rush of institutional money. Fast accumulation often signals a major thesis — but it also means the stock could fall quickly if that thesis breaks.
🟠

More sellers than buyers — 47% buying

435 buying494 selling
Last quarter: 494 funds reduced or exited vs 435 that bought or added. When more than half of active funds are selling, it's a caution flag — especially if the stock price hasn't moved down yet.
⚠️

Fewer new buyers each quarter (-94 vs last Q)

new funds entering per quarter
Funds opening this position for the first time: 203 → 131 → 207 → 113. Each quarter fewer new institutions are entering. This usually means most funds that wanted in are already in — the stock is well-known but the pool of potential new buyers is shrinking.
🔒

43% of holders stayed for 2+ years

■ 43% conviction (2yr+) ■ 29% medium ■ 28% new
335 out of 785 hedge funds have held CVNA for over 2 years without selling. Long-term investors are generally harder to shake out during market stress, creating a stable ownership base that limits the risk of sudden capitulation.
💎

Buying through price weakness — shares -1%, value -28%

Value
-28%
Shares
-1%
Last quarter: funds added -1% more shares while total portfolio value only changed -28%. Institutions were buying while the price was falling — a high-conviction accumulation signal. They're deliberately loading up on the dip.
➡️

Steady discovery — ~113 new funds/quarter

137 → 203 → 131 → 207 → 113 new funds/Q
New funds entering each quarter: 203 → 131 → 207 → 113. Consistent flow of new institutional buyers without clear acceleration or slowdown.
🏛️

Veteran-anchored — 53% veterans vs 36% newcomers

■ 53% veterans ■ 11% 1-2yr ■ 36% new
Entry-cohort mix of 858 holders: 453 (53%) are 2+ year veterans, 95 entered 1–2 years ago, and 310 (36%) joined within the past year. A veteran-weighted cap table skews toward institutional memory over fresh momentum.
🏆

Elite ownership — 42% AUM from top-100 funds

42% from top-100 AUM funds
68 of 768 holders are among the 100 largest funds by AUM, controlling 42% of total institutional value in CVNA. When the biggest players dominate the cap table, it signifies deep institutional support — since mega-funds deploy the most rigorous due diligence and capital.
3.7
out of 10
Low Exit Risk
Exit risk score 3.7/10 — low institutional crowding. Ownership is below peak levels, holder base is relatively sticky, and buying momentum is positive.

Methodology note: these Smart Money cards use consecutive 13F disclosure snapshots, not trade-by-trade execution data. "Buying", "selling", "new holders", and "trimmed" refer to quarter-over-quarter changes in reported holders, aggregate shares, or disclosed position values between filings. They are useful for ownership regime analysis and crowding, but they do not imply exact trade timing on the filing date.

Institutional Sentiment Summary — CVNA

In 2026 Q1, 435 hedge funds were net buyers of CVNA (113 opened a new position, 322 added to an existing one), while 494 reduced or exited (305 trimmed, 189 sold completely) — a 47% buyer ratio, indicating roughly balanced activity. 42% of total institutional value in CVNA is held by top-100 AUM funds, reflecting elite-tier ownership quality. Net fund flow last quarter: -76 funds (more exits than new entries). Total institutional holders: 785.

Hedge Fund Ownership: CVNA

How many hedge funds hold CVNA — quarterly history vs. share price
Quarterly hedge fund ownership of CVNA vs. share price

Market Analysis: CVNA

Analyst Price Targets

Avg. Price Target
--

Analyst Recommendations

Stock Performance

Real-time

Company Profile: CVNA

-- --

Institutional ownership data sourced from SEC EDGAR Form 13F-HR filings.

Is It Too Late to Buy Carvana Co (CVNA) Based on Hedge Fund 13F Filings?

Signal Freshness measures how much CVNA has moved relative to its sector benchmark (XLY) since the 2026 Q1 13F filing. A stock that has barely outrun its sector is still a relatively fresh entry point — the fund's thesis has not yet been priced in by the broader market.

Since Quarter End March 31, 2026 · 77d ago
CVNA
+9.6%
XLY
+8.9%

CVNA outperformed XLY by +0.7% since March 31, 2026.

Since 13F Filing Date May 15, 2026 · 32d ago
CVNA
+2.6%
XLY
+1.9%

Since the filing became public, CVNA outperformed XLY by +0.7% .

Interpretation: The stock is tracking its sector benchmark closely. The signal remains fresh and the entry point is still near the fund's implied reference. Learn more →

Smart Money Signal ?
Strong Institutional Conviction

Multiple high-quality funds hold meaningful positions with strong conviction.

54 top-rated funds 20 high-conviction
Consensus
7.6
/ 10
breadth
×
Elite
6.5
/ 10
conviction
Hedge Fund Positioning: CVNA
779 + Investors

Track Smart Money conviction in CVNA. See who's accumulating, reducing, or initiating positions.

Metric All 13F Filers (2026 Q1) Prior (2025 Q4) Change
Funds Holding 779 861 -9.52%
13F Shares 180M 183M -1.41%
Total Value $49.94B $69.41B -28.06%
New Positions 111 207 -96
Increased Positions 293 320 -27
Closed Positions 193 121 +72
Reduced Positions 288 257 +31
Total Calls 40 43 -6.98%
Total Puts 48 59 -18.64%
PUT/CALL Ratio 1.2 1.37 Neutral

Statistics: CVNA

View More

Valuation Measures Data as of: --

Market Cap --
Enterprise Value --
Trailing P/E --
Forward P/E --
PEG Ratio (5yr expected) --
Price/Sales (ttm) --
Price/Book (mrq) --
Enterprise Value/Revenue --
Enterprise Value/EBITDA --
Beta (5Y Monthly) --
Short Ratio (Days to Cover) --
Short % of Float --

Financial Highlights

Profitability
Profit Margin --
Return on Assets (ttm) --
Return on Equity (ttm) --
Income Statement & Cash Flow
Revenue (ttm) --
Net Income Avi to Common (ttm) --
Diluted EPS (ttm) --
Total Cash (mrq) --
Total Debt/Equity (mrq) --
Levered Free Cash Flow (ttm) --

Institutional Holders (2026 Q1)

779 + investors

Explore institutional interest and hedge fund ownership dynamics. Analyze portfolio weights, new positions, and conviction trends in CVNA. Verified SEC 13F-HR filings.

QUARTER:
Top 25 CVNA holders by conviction (% of portfolio weight) — 2026 Q1 · Source: SEC Form 13F
# Investor % of Portfolio Shares Mkt Value
1 CAS Investment Partners, LLC 81.67% 4,541,291 $1.43B
2 KPS Global Asset Management UK Ltd 76.21% 1,500,000 $471.6M
3 General Equity Holdings LP 58.02% 248,646 $78.2M
4 Greenoaks Capital Partners LLC 57.53% 4,202,834 $1.32B
5 Selkirk Management LLC 39.03% 365,220 $114.8M
6 Massachusetts Institute of Technology 31.51% 578,300 $181.8M
7 RV Capital AG 31.05% 377,298 $118.8M
8 Brightlight Capital Management LP 27.68% 89,263 $28.1M
9 Anabranch Capital Management, LP 26.30% 96,121 $30.2M
10 Spruce House Investment Management LLC 26.21% 2,335,000 $734.1M
11 Goodnow Investment Group, LLC 24.95% 724,441 $227.7M
12 North Peak Capital Management, LLC 22.01% 420,965 $132.3M
13 Dream Peak Capital Ltd 21.22% 455,525 $143.2M
14 Thrive Capital Management, LLC 20.74% 226,761 $71.3M
15 Steadview Capital Management LLC 20.35% 146,660 $46.1M
16 Lingotto Investment Management LLP 15.82% 2,548,077 $801.1M
17 3G Capital Partners LP 15.34% 137,500 $43.2M
18 Dragoneer Investment Group, LLC 13.12% 1,252,960 $393.9M
19 Octahedron Capital Management L.P. 8.94% 39,100 $12.3M
20 Gavilan Investment Partners LLC 7.77% 92,000 $28.9M
21 Styrax Capital, LP 6.59% 300,000 $94.3M
22 Flight Deck Capital, LP 6.02% 26,340 $8.3M
23 Sachem Head Capital Management LP 5.98% 790,000 $248.4M
24 No Street GP LP 5.81% 277,000 $87.1M
25 RDST Capital LLC 5.29% 174,802 $55.0M
Investor Ownership
History 		% of Portfolio Prev % Rank Conviction Avg Buy Price 13F Score™ 3Y / 7Y Sell Timing Shares Mkt Value Change Change % Source Quarter Filed

Frequently Asked Questions — Carvana Co (CVNA)

What does the Smart Money Trend signal show for CVNA?

Selling streak — 1 quarter in a row: For 1 consecutive quarter, more hedge funds reduced or closed their CVNA positions than added to them. Sustained institutional selling is a meaningful warning sign — these are professionals with deep research teams collectively deciding to exit.

What is the institutional breadth score for CVNA?

More sellers than buyers — 47% buying: Last quarter: 494 funds reduced or exited vs 435 that bought or added. When more than half of active funds are selling, it's a caution flag — especially if the stock price hasn't moved down yet.

What is the fund quality score for CVNA holders?

Elite ownership — 42% AUM from top-100 funds: 68 of 768 holders are among the 100 largest funds by AUM, controlling 42% of total institutional value in CVNA. When the biggest players dominate the cap table, it signifies deep institutional support — since mega-funds deploy the most rigorous due diligence and capital.

How long have hedge funds held CVNA?

43% of holders stayed for 2+ years: 335 out of 785 hedge funds have held CVNA for over 2 years without selling. Long-term investors are generally harder to shake out during market stress, creating a stable ownership base that limits the risk of sudden capitulation.

Is it too late to buy Carvana Co (CVNA) following the 2026 Q1 hedge fund 13F filings?

As of today, CVNA has moved +2.6% since the 2026 Q1 13F filing date (May 15, 2026), compared to +1.9% for the XLY sector ETF — an outperformance of +0.7%. Since the quarter end (March 31, 2026), CVNA has gained +9.6% vs +8.9% for XLY. The stock is tracking its sector benchmark closely. The signal remains fresh and the entry point is still near the fund's implied reference.

Where does this institutional ownership data come from?

All holdings data is sourced from SEC Form 13F filings, which institutional investment managers with over $100 million in assets are required to submit quarterly. Data is parsed directly from SEC EDGAR.

Disclaimer: The information on this page is for informational purposes only and does not constitute investment advice, a recommendation, or an offer to buy or sell any security. Institutional holdings data is sourced from SEC Form 13F filings and reflects positions as of the filing date. Past performance of any fund or portfolio is not indicative of future results. 13Foresight is not a registered investment adviser. Always conduct your own due diligence before making investment decisions.

Full history →