Carvana Co. bonds CVNA
Who owns Carvana Co.'s debt and what their own filings say it is worth. Bond prices and yields are fund-reported marks (SEC Form N-PORT) as of Jul 2026; they lag the market by about two months. CVNA stock page.
Every bond funds hold
Each bond's latest fund-reported mark. Price per 100 of face value; yield to maturity from price, coupon and maturity; spread over the matched-maturity Treasury for US-dollar bonds.
| Bond | Coupon | Maturity | Ccy | Price | Yield | Spread | Funds | Held | As of |
|---|---|---|---|---|---|---|---|---|---|
| 146869AF9 | 5.5% fixed | 2027-04-15 | USD | 99.00 | 6.96% | 303 bp | 4 | $6.0M | Jul 2026 |
| 146869AD4 | 5.875% fixed | 2028-10-01 | USD | 97.00 | 7.39% | 316 bp | 4 | $2.6M | Jul 2026 |
| 146869AH5 | 4.875% fixed | 2029-09-01 | USD | 92.00 | 7.84% | 358 bp | 4 | $5.5M | Jul 2026 |
| 146869AJ1 | 10.25% fixed | 2030-05-01 | USD | 107.00 | 8.04% | 376 bp | 2 | $542K | Jul 2026 |
| 146869AN2 | 9% fixed | 2030-06-01 | USD | 103.14 | 8.03% | 374 bp | 44 | $175.1M | Jul 2026 |
| 146869AM4 | 9% fixed | 2031-06-01 | USD | 110.01 | 6.55% | 222 bp | 51 | $202.3M | Jul 2026 |
Spread history
Median spread of the US-dollar bonds over Treasuries, month-ends with complete filings. Fund-reported.
Price history
Median fund-marked price across the bonds, per 100 of face value.
By month
Funds file on staggered quarter-ends, so each month-end is marked by the funds that reported for it; the amount held moves with which funds filed, not only with buying and selling.
| Month-end | Bonds | Held | Median price | USD yield | USD spread | Most funds on one bond |
|---|---|---|---|---|---|---|
| Jul 2026 | 6 | $392.1M | 101.07 | 7.84% | 358 bp | 51 |
| Jun 2026 | 6 | $1.18B | 100.83 | 7.75% | 359 bp | 87 |
| May 2026 | 6 | $564.5M | 100.88 | 8.07% | 402 bp | 56 |
| Apr 2026 | 6 | $378.9M | 101.07 | 7.63% | 379 bp | 50 |
| Mar 2026 | 6 | $1.16B | 100.90 | 7.82% | 409 bp | 79 |
| Feb 2026 | 6 | $528.4M | 101.07 | 7.73% | 420 bp | 52 |
| Jan 2026 | 6 | $367.6M | 101.09 | 7.50% | 390 bp | 48 |
| Dec 2025 | 6 | $1.24B | 101.54 | 7.24% | 368 bp | 84 |
| Nov 2025 | 6 | $492.4M | 101.69 | 7.11% | 351 bp | 52 |
| Oct 2025 | 6 | $340.0M | 101.46 | 6.94% | 338 bp | 44 |
| Sep 2025 | 8 | $1.33B | 101.12 | 6.89% | 334 bp | 102 |
| Aug 2025 | 8 | $636.6M | 101.16 | 7.52% | 381 bp | 51 |
| Jul 2025 | 8 | $395.4M | 101.05 | 7.25% | 338 bp | 46 |
Who holds the debt
Fund series in their latest quarterly N-PORT report, largest first, with the change in face value against each fund's own previous report. Names as reported in the filings. 47 added, 35 cut, 15 new holders and 8 exits in the latest quarter.
| Fund series | Report | Face value | Value | Change in face value |
|---|---|---|---|---|
| PIMCO Income Fund PIMCO FUNDS | 2026-06-30 | $465.1M | $498.1M | -$2.7M |
| PGIM High Yield Fund Prudential Investment Portfolios, Inc. 15 | 2026-05-29 | $227.1M | $244.6M | $10.3M |
| BlackRock High Yield Portfolio BlackRock Funds V | 2026-06-30 | $141.4M | $152.9M | -$4.9M |
| T. Rowe Price Blue Chip Growth Fund, Inc. T. ROWE PRICE BLUE CHIP GROWTH FUND, INC. | 2026-06-30 | $131.8M | $141.6M | -$587K |
| PGIM Total Return Bond Fund Prudential Investment Portfolios, Inc. 17 | 2026-07-31 | $82.4M | $87.0M | $0 |
| iShares Broad USD High Yield Corporate Bond ETF iShares Trust | 2026-07-31 | $71.9M | $77.3M | $6.6M |
| PGIM Short Duration High Yield Income Fund Prudential Investment Portfolios, Inc. 15 | 2026-05-29 | $54.4M | $57.5M | $6.4M |
| T. Rowe Price High Yield Fund, Inc. T. ROWE PRICE HIGH YIELD FUND, INC. | 2026-05-31 | $41.7M | $46.0M | -$1.5M |
| iShares iBoxx $ High Yield Corporate Bond ETF iShares Trust | 2026-05-31 | $42.4M | $45.5M | -$6.5M |
| Allspring Short-Term High Income Fund ALLSPRING FUNDS TRUST | 2026-05-31 | $33.6M | $36.3M | $11.0M |
| State Street(R) SPDR(R) Portfolio High Yield Bond ETF SPDR SERIES TRUST | 2026-06-30 | $31.9M | $34.2M | $1.9M |
| PIMCO Low Duration Income Fund PIMCO FUNDS | 2026-06-30 | $30.5M | $32.8M | -$200K |
| Janus Henderson Multi-Sector Income Fund Janus Investment Fund | 2026-06-30 | $29.8M | $31.4M | $0 |
| iShares 0-5 Year High Yield Corporate Bond ETF iShares Trust | 2026-07-31 | $26.6M | $28.4M | $14.1M |
| Bridge Builder Core Plus Bond Fund Bridge Builder Trust | 2026-06-30 | $22.6M | $24.3M | -$100K |
| PIMCO High Yield Fund PIMCO FUNDS | 2026-06-30 | $18.1M | $19.2M | $0 |
| High Yield Fund Principal Funds, Inc | 2026-07-31 | $17.9M | $18.5M | -$11.6M |
| MFS High Income Fund MFS Series Trust III | 2026-07-31 | $13.1M | $14.4M | $7K |
| FlexShares High Yield Value - Scored Bond Index Fund FlexShares Trust | 2026-07-31 | $13.2M | $14.1M | -$840K |
| Six Circles Credit Opportunities Fund SIX CIRCLES TRUST | 2026-06-30 | $13.1M | $14.1M | -$400K |
| PGIM Short Duration Multi-Sector Bond Fund Prudential Investment Portfolios, Inc. 17 | 2026-07-31 | $13.1M | $14.0M | $0 |
| AB HIGH INCOME FUND INC | 2026-07-31 | $12.7M | $13.3M | $0 |
| PGIM Active High Yield Bond ETF PGIM ETF Trust | 2026-05-29 | $12.5M | $13.2M | $2.0M |
| Fidelity High Income Fund Fidelity Summer Street Trust | 2026-07-31 | $12.7M | $12.9M | $0 |
| Multi-Manager High Yield Bond Fund Goldman Sachs Trust II | 2026-07-31 | $11.6M | $12.6M | $1.6M |
Largest exits in the latest quarter (fund held the bonds in its previous report, none now): Lord Abbett High Yield Fund ($3.0M), DWS High Income Fund ($1.7M), MFS MULTIMARKET INCOME TRUST ($1.1M), DWS Global High Income Fund ($877K), THRIVENT MODERATE ALLOCATION PORTFOLIO ($779K), Goldman Sachs High Yield Fund ($537K), BlackRock Global Allocation Fund, Inc. ($209K), DWS High Income VIP ($152K).
ETFs holding these bonds
From each ETF's own latest N-PORT report: the issuer's bonds as a share of the ETF's net assets. A holdings list, not a recommendation.
| ETF | Report | Bonds | Face value | Value | % of net assets |
|---|---|---|---|---|---|
| USHY iShares Broad USD High Yield Corporate Bond ETF | 2026-07-31 | 2 | $71.9M | $77.3M | 0.27% |
| HYG iShares iBoxx $ High Yield Corporate Bond ETF | 2026-05-31 | 2 | $42.4M | $45.5M | 0.28% |
| SPHY State Street(R) SPDR(R) Portfolio High Yield Bond ETF | 2026-06-30 | 2 | $31.9M | $34.2M | 0.30% |
| SHYG iShares 0-5 Year High Yield Corporate Bond ETF | 2026-07-31 | 2 | $26.6M | $28.4M | 0.37% |
| HYGV FlexShares High Yield Value - Scored Bond Index Fund | 2026-07-31 | 2 | $13.2M | $14.1M | 1.29% |
| PHYL PGIM Active High Yield Bond ETF | 2026-05-29 | 2 | $12.5M | $13.2M | 1.01% |
| BHYB Xtrackers USD High Yield BB-B ex Financials ETF | 2026-05-31 | 2 | $7.7M | $8.3M | 0.35% |
| YLD Principal Active High Yield ETF | 2026-06-30 | 1 | $7.9M | $8.2M | 1.43% |
| FBND Fidelity Total Bond ETF | 2026-05-31 | 4 | $5.1M | $5.3M | 0.02% |
| IUSB iShares Core Universal USD Bond ETF | 2026-07-31 | 2 | $4.8M | $5.1M | 0.01% |
| SYFI AB Short Duration High Yield ETF | 2026-05-31 | 2 | $2.4M | $2.6M | 0.28% |
| HYFI AB High Yield ETF | 2026-05-31 | 3 | $2.0M | $2.1M | 0.62% |
| SIHY Harbor Ares Systematic High Yield ETF | 2026-07-31 | 1 | $1.8M | $2.0M | 1.35% |
| BBHY JPMorgan BetaBuilders USD High Yield Corporate Bond ETF | 2026-05-31 | 2 | $1.6M | $1.7M | 0.29% |
| HYXF iShares ESG Advanced High Yield Corporate Bond ETF | 2026-07-31 | 2 | $1.6M | $1.7M | 0.88% |
Default risk, three ways
Stock market: distance-to-default
Distance-to-default 5.07: safer than 50% of companies (48th percentile in Consumer Cyclical). Market-implied, prices to 2026-10-16, balance sheet 2026-06-30.
| Equity value | $64.66B |
| Debt barrier (short-term + ½ long-term debt) | $2.81B |
| Equity volatility (1 year) | 62.4% |
| Asset value / asset volatility (solved) | $67.35B / 59.9% |
| Risk-free rate (1-year Treasury) | 4.28% |
Bond market: priced-in odds
A 358 bp spread prices in about 6.0% a year of default odds (spread ÷ (1 − 40% recovery)). Fund-reported marks as of Jul 2026; the spread also pays for liquidity and risk premium, so this overstates actual defaults.
Accounts: Altman Z
Altman Z = 6.36 (latest balance sheet). A fundamentals cross-check; see methods for the variant used.
The stock side: 13F filings
What institutions report holding in CVNA's stock and options. Options are reported at the value of the underlying shares, not the premium paid; 13F lists long positions only, lags 45 days after quarter-end, and does not show whether puts hedge a stock position.
| Quarter-end | Stock holders | Stock value | Put managers | Puts (underlying value) | Call managers | Calls (underlying value) | Convertible holders |
|---|---|---|---|---|---|---|---|
| 2026-09-30 filings still arriving | 89 | $127.0M | 1 | $125K | 0 | — | 0 |
| 2026-06-30 | 806 | $43.04B | 52 | $4.44B | 46 | $5.67B | 0 |
| 2026-03-31 | 764 | $36.03B | 60 | $5.26B | 47 | $6.32B | 0 |
| 2025-12-31 | 842 | $52.99B | 68 | $8.14B | 49 | $9.63B | 1 |
| 2025-09-30 | 768 | $44.87B | 61 | $5.66B | 48 | $7.85B | 1 |
| 2025-06-30 | 735 | $38.76B | 57 | $5.04B | 51 | $7.58B | 2 |
Sources: fund holdings and fund-reported marks from SEC Form N-PORT (published about 60 days after each month-end); 13F filings; House and Senate periodic transaction reports and OGE Form 278-T; Treasury yields from FRED. Findings from filings, not advice. How each number is computed.