CVAN Holdings Divests All Voting Shares in Carvana Co.

TL;DR

**CVAN Holdings just dumped all its voting shares in Carvana.**

AI Summary

CVAN Holdings, LLC, a Delaware-organized entity, filed an amended SC 13G/A on February 7, 2024, indicating its beneficial ownership of Carvana Co. Class A common stock as of December 31, 2023. The filing shows that CVAN Holdings, LLC now holds 0 shares with sole voting power, a significant change from previous filings. This update suggests a complete divestment of their voting shares in Carvana, which could impact investor sentiment due to a major holder reducing their stake to zero.

Why It Matters

This filing shows a major institutional holder, CVAN Holdings, LLC, has reduced its sole voting power in Carvana Co. to zero, which could signal a lack of confidence or a strategic portfolio shift.

Risk Assessment

Risk Level: medium — A significant holder reducing their stake to zero can be perceived negatively by the market, indicating potential concerns about the company's future performance.

Analyst Insight

Investors should monitor Carvana's stock for potential dips and consider if this divestment by CVAN Holdings, LLC reflects broader concerns about the company's fundamentals or is merely a portfolio rebalancing. Further research into Carvana's upcoming earnings and other institutional holdings would be prudent.

Key Numbers

• 0 — Sole Voting Power Shares (CVAN Holdings, LLC's current sole voting power in Carvana Co. Class A common stock as of December 31, 2023.)
• $0.001 — Par Value per Share (Par value of Carvana Co. Class A common stock.)

Key Players & Entities

• CVAN Holdings, LLC (company) — reporting person and former beneficial owner of Carvana stock
• Carvana Co. (company) — the issuer of the Class A common stock
• Mark Walter (person) — listed as a group member in the filing
• Delaware (company) — place of organization for CVAN Holdings, LLC
• December 31, 2023 (date) — date of event which requires filing of this statement

Forward-Looking Statements

• Carvana's stock price may experience short-term negative pressure due to the perceived lack of institutional confidence. (Carvana Co.) — medium confidence, target: Q1 2024

FAQ

Key Financial Figures

• $0.001 — Name of Issuer) Class A common stock, $0.001 par value per share (Titles of Class

Filing Documents

• d672430dsc13ga.htm (SC 13G/A) — 119KB
• 0001193125-24-027002.txt ( ) — 121KB

From the Filing

SC 13G/A 1 d672430dsc13ga.htm SC 13G/A SC 13G/A UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 SCHEDULE 13G Under the Securities Exchange Act of 1934 (Amendment No. 7) Carvana Co. (Name of Issuer) Class A common stock, $0.001 par value per share (Titles of Class of Securities) 146869102 (CUSIP Number) December 31, 2023 (Date of Event Which Requires Filing of this Statement) Check the appropriate box to designate the rule pursuant to which this Schedule is filed: Rule 13d-1(b) Rule 13d-1(c) Rule 13d-1(d) The information required in the remainder of this cover page shall not be deemed to be filed for the purpose of Section 18 of the Securities Exchange Act of 1934, as amended (the Act ) or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act (however, see the Notes ). Schedule 13G CUSIP No. 146869102 1 NAME OF REPORTING PERSON CVAN Holdings, LLC 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a)(b) 3 SEC USE ONLY 4 CITIZENSHIP OR PLACE OF ORGANIZATION Delaware NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH: 5 SOLE VOTING POWER - 0 - 6 SHARED VOTING POWER 9,141,546 (See Item 4) 7 SOLE DISPOSITIVE POWER - 0 - 8 SHARED DISPOSITIVE POWER 9,141,546 (See Item 4) 9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 9,141,546 (See Item 4) 10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES 11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9 7.46% (See Item 4) 12 TYPE OF REPORTING PERSON OO Schedule 13G CUSIP No. 146869102 1 NAME OF REPORTING PERSON CVAN Holding Company, LLC 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a)(b) 3 SEC USE ONLY 4 CITIZENSHIP OR PLACE OF ORGANIZATION Delaware NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH: 5 SOLE VOTING POWER - 0 - 6 SHARED VOTING POWER 9,141,546 (See Item 4) 7 SOLE DISPOSITIVE POWER - 0 - 8 SHARED DISPOSITIVE POWER 9,141,546 (See Item 4) 9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON -9,141,546 (See Item 4) 10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES 11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9 7.46% (See Item 4) 12 TYPE OF REPORTING PERSON OO Schedule 13G CUSIP No. 146869102 1 NAME OF REPORTING PERSON DLHPII Public Investments, LLC 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a)(b) 3 SEC USE ONLY 4 CITIZENSHIP OR PLACE OF ORGANIZATION Delaware NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH: 5 SOLE VOTING POWER - 0 - 6 SHARED VOTING POWER 9,141,546 (See Item 4) 7 SOLE DISPOSITIVE POWER - 0 - 8 SHARED DISPOSITIVE POWER 9,141,546 (See Item 4) 9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 9,141,546 (See Item 4) 10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES 11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9 7.46% (See Item 4) 12 TYPE OF REPORTING PERSON OO Schedule 13G CUSIP No. 146869102 1 NAME OF REPORTING PERSON DLHPII Investment Holdings, LLC 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a)(b) 3 SEC USE ONLY 4 CITIZENSHIP OR PLACE OF ORGANIZATION Delaware NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH: 5 SOLE VOTING POWER - 0 - 6 SHARED VOTING POWER 9,141,546 (See Item 4) 7 SOLE DISPOSITIVE POWER - 0 - 8 SHARED DISPOSITIVE POWER 9,141,546 (See Item 4) 9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 9,141,546 (See Item 4) 10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES 11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9 7.46% (See Item 4) 12 TYPE OF REPORTING PERSON OO Schedule 13G CUSIP No. 146869102 1 NAME OF REPORTING PERSON TWG Global Holdings, LLC (f/k/a Delaware Life Holdings Parent II, LLC) 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a)(b) 3 SEC USE ONLY 4 CITIZENSHIP OR PLACE OF ORGANIZATION Delaware NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH: 5 SOLE VOTING POWER - 0 - 6 SHARED VOTING POWER 9,141,546 (See Item 4) 7 SOLE DISPOSITIVE POWER - 0 - 8 SHARED DISPOSITIVE POWER 9,141,546 (See Item 4) 9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 9,141,546 (See Item 4) 10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES 11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9 7.46% (See Item 4) 12 TYPE OF REPORTING PERSON OO Schedule 13G CUSIP No. 146869102 1 NAME OF REPORTING PERSON Delaware Life Holdings Manager, LLC 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a)(b) 3 SEC USE ONLY 4 CITIZENSHIP OR PLACE OF ORGANIZATION Delaware NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH: 5 SOLE VOTING P