Robert Vinall's RV Capital significantly increased its stake in used-car retailer Carvana (CVNA) during the second quarter of 2026, boosting its share count by over 360% and making it the fund's largest position by a wide margin. The Carvana holding now represents over 30% of the firm's $382.89 million 13F portfolio. This aggressive addition continues a long-held conviction for Vinall, who has spoken positively about the company's stronger, more profitable business model.
In a concentrated portfolio known for long-term holdings, the filing also revealed notable reductions in two other top positions. The stake in auto-finance company Credit Acceptance Corp. (CACC) was trimmed by approximately 13%, and the position in Interactive Brokers (IBKR) was reduced by about 26%. Despite these reductions, both remain significant holdings, collectively accounting for over 30% of the portfolio's value. Vinall has previously expressed admiration for both businesses, highlighting Credit Acceptance's resilient model and Interactive Brokers' long growth runway.
The increased concentration in Carvana, funded in part by trimming other long-standing successful investments, marks a significant shift in the portfolio's composition. While the exact timing and motivation for these Q2 changes are not publicly detailed, they reflect a doubling down on a high-conviction idea. The portfolio's other major holdings include Meta Platforms (META) and Microsoft (MSFT), which saw a 31% increase in shares.