Greenoaks Reports 4.2% Stake in Carvana (CVNA) — 5.66M Shares

Greenoaks Capital Partners LLC and two managing members report a shared beneficial ownership of 5,657,525 shares of Carvana Co. Class A common stock, representing 4.2% of the class.

Rhea-AI Filing Summary

Greenoaks Capital Partners LLC and two managing members report a shared beneficial ownership of 5,657,525 shares of Carvana Co. Class A common stock, representing 4.2% of the class. The filing states the shares are held by Greenoaks-managed funds, with shared voting and dispositive power but no sole voting or dispositive power. The Greenoaks Funds have the right to receive dividends or sale proceeds. The filing is a Schedule 13G/A and affirms the position is held in the ordinary course of business and not intended to influence control.

Insights

Financial Analyst

TL;DR: Greenoaks reports a modest 4.2% shared stake in CVNA via funds it manages, signaling a passive, non-control position.

The filing discloses 5,657,525 shares (4.2%) beneficially owned by Greenoaks Funds with shared voting and dispositive authority. The absence of sole voting or dispositive power and the Schedule 13G/A form indicate the position is reported as passive under the relevant rules. For investors, this documents a meaningful institutional holding without an expressed intent to change control. The declaration that dividends and sale proceeds rights lie with the Greenoaks Funds clarifies economic interest.

Corporate Governance Expert

TL;DR: Ownership structure shows shared authority but does not signal an activist or control-seeking posture.

The reporting persons—Greenoaks Capital Partners LLC and two managing members—report shared voting and dispositive power for the same block of 5,657,525 shares. Filing on Schedule 13G/A and the certification language together indicate the stake is held in the ordinary course and not for influence over issuer control. From a governance perspective, this is a disclosure of passive institutional ownership rather than a move toward board influence or proxy activism.

FAQ

What stake in Carvana (CVNA) does Greenoaks Capital Partners report?

The filing reports a shared beneficial ownership of 5,657,525 shares, representing 4.2% of Carvana Class A common stock.

Who are the reporting persons on the Schedule 13G/A for CVNA?

The statement is filed by Greenoaks Capital Partners LLC and two managing members: Neil Mehta and Benjamin Peretz.

Does Greenoaks have sole voting or dispositive power over the shares?

No. The filing shows 0 sole voting power and 0 sole dispositive power, and 5,657,525 shares of shared voting and dispositive power.

Is the Greenoaks position reported as passive or active?

The Schedule 13G/A and the certification state the position is held in the ordinary course of business and not for the purpose of changing or influencing control, indicating a passive position.

Where are the reporting persons' business offices located?

The business office address for the reporting persons is listed as 4 Orinda Way Building C, Suite 200, Orinda, CA 94563.

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Accepted by SEC EDGAR 08/14/2025 - 04:39 PM Learn about SEC filing dates

SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13G

UNDER THE SECURITIES EXCHANGE ACT OF 1934

(Amendment No. 2)

CARVANA CO.

(Name of Issuer)

Class A Common Stock, par value $0.001 per share

(Title of Class of Securities)

146869102

(CUSIP Number)

06/30/2025

(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)

SCHEDULE 13G

CUSIP No. 146869102

1

Names of Reporting Persons

GREENOAKS CAPITAL PARTNERS LLC

2

Check the appropriate box if a member of a Group (see instructions)

(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 0.00
6	Shared Voting Power 5,657,525.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 5,657,525.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

5,657,525.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

4.2 %

12

Type of Reporting Person (See Instructions)

IA, HC

SCHEDULE 13G

CUSIP No. 146869102

1

Names of Reporting Persons

MEHTA NEIL

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

UNITED STATES

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 0.00
6	Shared Voting Power 5,657,525.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 5,657,525.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

5,657,525.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

4.2 %

12

Type of Reporting Person (See Instructions)

IN, HC

SCHEDULE 13G

CUSIP No. 146869102

1

Names of Reporting Persons

PERETZ BENJAMIN

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

UNITED STATES

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 0.00
6	Shared Voting Power 5,657,525.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 5,657,525.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

5,657,525.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

4.2 %

12

Type of Reporting Person (See Instructions)

IN, HC

SCHEDULE 13G

Item 1.
(a)	Name of issuer: CARVANA CO.
(b)	Address of issuer's principal executive offices: 300 E. RIO SALADO PARKWAY, 300 E. RIO SALADO PARKWAY, TEMPE, ARIZONA, 85281.
Item 2.
(a)	Name of person filing: This statement is filed by: (i) Greenoaks Capital Partners LLC (the "Investment Manager"), a Delaware limited liability company and the investment adviser to certain funds and accounts (the "Greenoaks Funds"), with respect to the shares of Class A Common Stock (as defined in Item 2(d) below) directly held by the Greenoaks Funds; (ii) Mr. Neil Mehta ("Mr. Mehta"), a managing member of the Investment Manager, with respect to the shares of Class A Common Stock directly held by the Greenoaks Funds; and (iii) Mr. Benjamin Peretz ("Mr. Peretz"), a managing member of the Investment Manager, with respect to the shares of Class A Common Stock directly held by the Greenoaks Funds. The foregoing persons are hereinafter sometimes collectively referred to as the "Reporting Persons." The filing of this statement should not be construed as an admission that any of the forgoing persons or any Reporting Person is, for the purposes of Section 13 of the Act, the beneficial owner of the shares of Class A Common Stock reported herein.
(b)	Address or principal business office or, if none, residence: The address of the business office of each of the Reporting Persons is 4 Orinda Way Building C, Suite 200 Orinda, CA 94563.
(c)	Citizenship: The Investment Manager is a Delaware limited liability company. Mr. Mehta and Mr. Peretz are each citizens of the United States.
(d)	Title of class of securities: Class A Common Stock, par value $0.001 per share
(e)	CUSIP No.: 146869102
Item 3.	If this statement is filed pursuant to §§ 240.13d-1(b) or 240.13d-2(b) or (c), check whether the person filing is a:
(a)	Broker or dealer registered under section 15 of the Act (15 U.S.C. 78o);
(b)	Bank as defined in section 3(a)(6) of the Act (15 U.S.C. 78c);
(c)	Insurance company as defined in section 3(a)(19) of the Act (15 U.S.C. 78c);
(d)	Investment company registered under section 8 of the Investment Company Act of 1940 (15 U.S.C. 80a-8);
(e)	An investment adviser in accordance with § 240.13d-1(b)(1)(ii)(E);
(f)	An employee benefit plan or endowment fund in accordance with § 240.13d-1(b)(1)(ii)(F);
(g)	A parent holding company or control person in accordance with § 240.13d-1(b)(1)(ii)(G);
(h)	A savings associations as defined in Section 3(b) of the Federal Deposit Insurance Act (12 U.S.C. 1813);
(i)	A church plan that is excluded from the definition of an investment company under section 3(c)(14) of the Investment Company Act of 1940 (15 U.S.C. 80a-3);
(j)	A non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J). If filing as a non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J), please specify the type of institution:
(k)	Group, in accordance with Rule 240.13d-1(b)(1)(ii)(K).
Item 4.	Ownership
(a)	Amount beneficially owned: 5,657,525
(b)	Percent of class: 4.2%
(c)	Number of shares as to which the person has:
	(i) Sole power to vote or to direct the vote: 0
	(ii) Shared power to vote or to direct the vote: 5,657,525
	(iii) Sole power to dispose or to direct the disposition of: 0
	(iv) Shared power to dispose or to direct the disposition of: 5,657,525
Item 5.	Ownership of 5 Percent or Less of a Class.
	Ownership of 5 percent or less of a class
Item 6.	Ownership of more than 5 Percent on Behalf of Another Person.
	If any other person is known to have the right to receive or the power to direct the receipt of dividends from, or the proceeds from the sale of, such securities, a statement to that effect should be included in response to this item and, if such interest relates to more than 5 percent of the class, such person should be identified. A listing of the shareholders of an investment company registered under the Investment Company Act of 1940 or the beneficiaries of employee benefit plan, pension fund or endowment fund is not required. See Item 2. The Greenoaks Funds have the right to receive or the power to direct the receipt of dividends from, or the proceeds from the sale of, the shares of Class A Common Stock reported herein.
Item 7.	Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on by the Parent Holding Company or Control Person.
	Not Applicable
Item 8.	Identification and Classification of Members of the Group.
	Not Applicable
Item 9.	Notice of Dissolution of Group.
	Not Applicable

Item 10.

Certifications:

By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were acquired and are held in the ordinary course of business and were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under § 240.14a-11.

SIGNATURE

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

GREENOAKS CAPITAL PARTNERS LLC

Signature:	/s/ Neil Mehta
Name/Title:	Managing Member
Date:	08/14/2025

MEHTA NEIL

Signature:	/s/ Neil Mehta
Name/Title:	Neil Mehta
Date:	08/14/2025

PERETZ BENJAMIN

Signature:	/s/ Benjamin Peretz
Name/Title:	Benjamin Peretz
Date:	08/14/2025