CAS Investment Partners, LLC

In its 13F for Q4 2025 (holdings as of December 31, 2025, filed February 17, 2026), CAS Investment Partners, LLC reported 5 stock positions worth $2.3 billion. Its top holding was Carvana (CVNA) at 83.2% of the portfolio, followed by Hilton Grand Vacations (HGV, 10.2%) and Capital One Financial (COF, 6.1%). Compared with Q3 2025, it reduced 4. The biggest sale was Hilton Grand Vacations (HGV, shares −6%).

Most Recent 13F
Q2 2026
Location
WESTPORT, CT
CIK
0001697591
Portfolio Value
$2.3B (Q4 2025)
SEC Filing
0001697591-26-000002 ↗ filed Feb 17, 2026

Holdings Value

0$500.0M$1.0B$1.5B$2.0B$2.5B Q1 2024: $1.1B Q1 2024 Q2 2024: $1.3B Q2 2024 Q3 2024: $1.5B Q3 2024 Q4 2024: $1.7B Q4 2024 Q1 2025: $1.5B Q1 2025 Q2 2025: $2.1B Q2 2025 Q3 2025: $2.2B Q3 2025 Q4 2025: $2.3B $2.3B Q4 2025 Q1 2026: $1.7B Q1 2026 Q2 2026: $1.9B Q2 2026

Holdings 5 stocks · $2.3B
CVNA Carvana Co. 83.25% 4,610,200 $1.9B Reduce -5.7%
HGV Hilton Grand Vacations Inc. 10.18% 5,317,380 $238.0M Reduce -5.8%
COF Capital One Financial Corp. 6.06% 584,125 $141.6M Reduce -12.2%
SWIM Latham Group Inc. 0.26% 942,397 $6.0M Reduce -5.8%
CDLX Cardlytics Inc. 0.26% 5,198,067 $6.0M No change

Portfolio Sells Q3 2025 → Q4 2025
HGV Hilton Grand Vacations Inc. Reduce -5.8% 10.18% −0.34
COF Capital One Financial Corp. Reduce -12.2% 6.06% −0.25
SWIM Latham Group Inc. Reduce -5.8% 0.26% −0.08
CVNA Carvana Co. Reduce -5.7% 83.25% +0.98

Portfolio Buys Q3 2025 → Q4 2025
None this quarter.

All Filings

QuarterPositions13F Reported ValueTop Holdings
Q2 2026 6$1.9BCVNA, HGV, META, VAC, SWIM
Q1 2026 5$1.7BCVNA, HGV, COF, CDLX, SWIM
Q4 2025 5$2.3BCVNA, HGV, COF, SWIM, CDLX
Q3 2025 5$2.2BCVNA, HGV, COF, CDLX, SWIM
Q2 2025 4$2.1BCVNA, HGV, COF, CDLX
Q1 2025 4$1.5BCVNA, HGV, COF, CDLX
Q4 2024 4$1.7BCVNA, HGV, COF, CDLX
Q3 2024 5$1.5BCVNA, HGV, COF, CDLX, WRLD
Q2 2024 5$1.3BCVNA, HGV, COF, CDLX, WRLD
Q1 2024 5$1.1BCVNA, HGV, COF, CDLX, WRLD