PaperPanda Fund Terminal
Clifford Sosin
CAS Investment Partners, LLC · CIK: 1697591 · Report Period: 2025-12-31 · Filed: 2026-02-17
Portfolio Concentration
Top 10 holdings by weight — hover for cross-investor insights
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Holdings
Total: $2,337,079,892 · 5 positions
| # | Ticker | Issuer | Class | % of Portfolio | Value ($) | Shares | Activity | Share Change |
|---|---|---|---|---|---|---|---|---|
| 1 |
 CVNA
|
CARVANA CO CL A | COM | 83.2% | $1,945,596,604 | 4,610,200 | REDUCE | -279,474 |
| 2 | [43283x] | HILTON GRAND VACATIONS | COM | 10.2% | $237,952,755 | 5,317,380 | NEW BUY | +5,317,380 |
| 3 |
 COF
|
CAPITAL ONE FINANCIAL CORP | COM | 6.1% | $141,568,535 | 584,125 | REDUCE | -81,345 |
| 4 |
 SWIM
|
LATHAM GROUP | COM | 0.3% | $5,984,221 | 942,397 | REDUCE | -57,603 |
| 5 | [14161w] | CARDLYTICS, INC. | COM | 0.3% | $5,977,777 | 5,198,067 | NEW BUY | +5,198,067 |
Position Changes
8 quarters available
| # | Ticker | Issuer | Action | Share Change | % Change | Shares Held | Value ($) |
|---|---|---|---|---|---|---|---|
| 1 | SWIM | LATHAM GROUP | REDUCE | -57,603 | -5.8% | 942,397 | $5,984,221 |
| 2 | - | HILTON GRAND VACATIONS INC | SOLD | -5,643,776 | Exit | - | - |
| 3 | - | CARDLYTICS, INC. | NEW BUY | +5,198,067 | New | 5,198,067 | $5,977,777 |
| 4 | CVNA | CARVANA CO CL A | REDUCE | -279,474 | -5.7% | 4,610,200 | $1,945,596,604 |
| 5 | - | HILTON GRAND VACATIONS | NEW BUY | +5,317,380 | New | 5,317,380 | $237,952,755 |
| 6 | - | CARDLYTICS INC | SOLD | -5,198,067 | Exit | - | - |
| 7 | COF | CAPITAL ONE FINANCIAL CORP | REDUCE | -81,345 | -12.2% | 584,125 | $141,568,535 |
| # | Ticker | Issuer | Action | Share Change | % Change | Shares Held | Value ($) |
|---|---|---|---|---|---|---|---|
| 1 | SWIM | LATHAM GROUP INC | NEW BUY | +1,000,000 | New | 1,000,000 | $7,610,000 |
| 2 | - | HILTON GRAND VACATIONS INC | REDUCE | -16,027 | -0.3% | 5,643,776 | $235,966,275 |
| 3 | CVNA | CARVANA CO | REDUCE | -32,594 | -0.7% | 4,889,674 | $1,844,580,620 |
| 4 | - | CARDLYTICS INC | REDUCE | -415,855 | -7.4% | 5,198,067 | $12,631,303 |
| 5 | COF | CAPITAL ONE FINL CORP | REDUCE | -36,711 | -5.2% | 665,470 | $141,465,613 |
| # | Ticker | Issuer | Action | Share Change | % Change | Shares Held | Value ($) |
|---|---|---|---|---|---|---|---|
| 1 | - | HILTON GRAND VACATIONS INC | REDUCE | -775,703 | -11.9% | 5,716,641 | $213,859,540 |
| 2 | CVNA | CARVANA CO | REDUCE | -692,768 | -10.9% | 5,685,029 | $1,188,625,863 |
| 3 | - | CARDLYTICS INC | REDUCE | -754,988 | -11.9% | 5,613,922 | $10,217,338 |
| 4 | COF | CAPITAL ONE FINL CORP | REDUCE | -97,094 | -12.0% | 709,295 | $127,176,593 |
| # | Ticker | Issuer | Action | Share Change | % Change | Shares Held | Value ($) |
|---|---|---|---|---|---|---|---|
| 1 | - | HILTON GRAND VACATIONS INC | ADD | +129,333 | +2.0% | 6,492,344 | $252,876,799 |
| 2 | CVNA | CARVANA CO | REDUCE | -75,797 | -1.2% | 6,377,797 | $1,296,988,798 |
| 3 | - | CARDLYTICS INC | REDUCE | -50,823 | -0.8% | 6,368,910 | $23,628,656 |
| 4 | - | WORLD ACCEP CORPORATION | SOLD | -93,299 | Exit | - | - |
| 5 | COF | CAPITAL ONE FINL CORP | REDUCE | -5,111 | -0.6% | 806,389 | $143,795,286 |
| # | Ticker | Issuer | Action | Share Change | % Change | Shares Held | Value ($) |
|---|---|---|---|---|---|---|---|
| 1 | - | HILTON GRAND VACATIONS INC | REDUCE | -83,650 | -1.3% | 6,363,011 | $231,104,559 |
| 2 | CVNA | CARVANA CO | REDUCE | -77,300 | -1.2% | 6,453,594 | $1,123,635,251 |
| 3 | - | CARDLYTICS INC | REDUCE | -45,126 | -0.7% | 6,419,733 | $20,543,146 |
| 4 | - | WORLD ACCEP CORPORATION | REDUCE | -158,473 | -62.9% | 93,299 | $11,007,416 |
| 5 | COF | CAPITAL ONE FINL CORP | ADD | +125,448 | +18.3% | 811,500 | $121,505,895 |
| # | Ticker | Issuer | Action | Share Change | % Change | Shares Held | Value ($) |
|---|---|---|---|---|---|---|---|
| 1 | - | CARDLYTICS INC | ADD | +91,183 | +1.4% | 6,464,859 | $53,076,492 |
| 2 | - | WORLD ACCEP CORPORATION | REDUCE | -86,392 | -25.5% | 251,772 | $31,113,984 |
| 3 | COF | CAPITAL ONE FINL CORP | ADD | +40,800 | +6.3% | 686,052 | $94,983,899 |
| # | Ticker | Issuer | Action | Share Change | % Change | Shares Held | Value ($) |
|---|---|---|---|---|---|---|---|
| 1 | - | HILTON GRAND VACATIONS INC | REDUCE | -322,259 | -4.8% | 6,446,661 | $304,346,866 |
| 2 | CVNA | CARVANA CO | REDUCE | -296,909 | -4.3% | 6,530,894 | $574,130,892 |
| 3 | - | CARDLYTICS INC | ADD | +957,560 | +17.7% | 6,373,676 | $92,354,565 |
| 4 | - | WORLD ACCEP CORPORATION | REDUCE | -224,327 | -39.9% | 338,164 | $49,027,017 |
| 5 | COF | CAPITAL ONE FINL CORP | ADD | +111,792 | +21.0% | 645,252 | $96,071,570 |
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