In Q2 2026, CAS Investment Partners held 6 US-listed stocks worth $1.9bn. Its biggest move was selling all of its Capital One Financial (6.0% the quarter before), followed by buying Meta Platforms (now 4.1% of the portfolio). It started 2 new positions and sold out of 1. Its largest holding is Carvana at 79%.
Q2 2026, filed 14 Aug 2026 (filing): 2 new, 1 added to, 3 trimmed, 1 sold out. Select a row to see it over time.How this works
Changes compare share counts with Q1 2026, adjusted for stock splits. Share classes of the same company are combined. Values are at quarter-end prices.
13F holdings with change from the previous quarter
Each bar is one 13F. Select a bar or press play to see that quarter’s 12 largest positions.How this works
Bars are split by share of the US portfolio: the six biggest holdings over the period in colour, everything else in grey. The last eight quarters are shown in full, earlier years at year end.
2017
2019
2021
2023
Q4 ’24
Q2 ’25
Q4 ’25
Q2 ’26
CVNAHGVCDLXWRLDHLFCOFEverything else
2017: Carvana 0.0%, Hilton Grand Vacations 0.0%, Cardlytics 0.0%, World Acceptance 26.8%, Herbalife 21.1%, Capital One Financial 0.0%; 2018: Carvana 26.9%, Hilton Grand Vacations 0.0%, Cardlytics 0.0%, World Acceptance 25.0%, Herbalife 25.3%, Capital One Financial 0.0%; 2019: Carvana 42.0%, Hilton Grand Vacations 0.0%, Cardlytics 29.2%, World Acceptance 8.5%, Herbalife 9.3%, Capital One Financial 0.0%; 2020: Carvana 42.5%, Hilton Grand Vacations 0.0%, Cardlytics 35.5%, World Acceptance 4.0%, Herbalife 3.8%, Capital One Financial 0.0%; 2021: Carvana 40.1%, Hilton Grand Vacations 21.0%, Cardlytics 17.9%, World Acceptance 9.7%, Herbalife 6.5%, Capital One Financial 0.0%; 2022: Carvana 7.7%, Hilton Grand Vacations 67.8%, Cardlytics 7.5%, World Acceptance 11.9%, Herbalife 0.0%, Capital One Financial 3.4%; 2023: Carvana 43.7%, Hilton Grand Vacations 32.9%, Cardlytics 6.0%, World Acceptance 8.9%, Herbalife 0.0%, Capital One Financial 8.5%; Q3 ’24: Carvana 74.5%, Hilton Grand Vacations 15.3%, Cardlytics 1.4%, World Acceptance 0.7%, Herbalife 0.0%, Capital One Financial 8.1%; Q4 ’24: Carvana 75.5%, Hilton Grand Vacations 14.7%, Cardlytics 1.4%, World Acceptance 0.0%, Herbalife 0.0%, Capital One Financial 8.4%; Q1 ’25: Carvana 77.2%, Hilton Grand Vacations 13.9%, Cardlytics 0.7%, World Acceptance 0.0%, Herbalife 0.0%, Capital One Financial 8.3%; Q2 ’25: Carvana 80.8%, Hilton Grand Vacations 11.4%, Cardlytics 0.5%, World Acceptance 0.0%, Herbalife 0.0%, Capital One Financial 7.3%; Q3 ’25: Carvana 82.3%, Hilton Grand Vacations 10.5%, Cardlytics 0.6%, World Acceptance 0.0%, Herbalife 0.0%, Capital One Financial 6.3%; Q4 ’25: Carvana 83.3%, Hilton Grand Vacations 10.2%, Cardlytics 0.3%, World Acceptance 0.0%, Herbalife 0.0%, Capital One Financial 6.1%; Q1 ’26: Carvana 81.7%, Hilton Grand Vacations 11.7%, Cardlytics 0.3%, World Acceptance 0.0%, Herbalife 0.0%, Capital One Financial 6.0%; Q2 ’26: Carvana 78.8%, Hilton Grand Vacations 14.5%, Cardlytics 0.1%, World Acceptance 0.0%, Herbalife 0.0%, Capital One Financial 0.0%
Q1 Q2 Q3 Q4 · each quarter is that quarter’s profits times the stake reported at its end. *2026 so far: 2 quarters. Click a quarter to see its holdings.
Net income is as reported (GAAP), so it includes one-off items and, for some companies, gains or losses on investments they hold. Companies that report under IFRS (most non-US companies) or whose shares we can’t match reliably are left out; “portfolio covered” shows how much is included. Look-through earnings explained. Growth compares earnings per share over the last 12 months with the 12 months a year earlier, for holdings profitable in both.
5% stake filings
Holdings of 5% or more of a company (13D and 13G), usually reported well before the next 13F.How this works
CAS Investment Partners’s filings since December 2024, newest first. An amendment showing less than 5% means the holding fell below the threshold. A 13D means the holder may seek to influence the company. How to read a 13D.