CI
CAS Investment Partners, LLC 13F Portfolio & Top Holdings (Q2 2026)
CAS Investment Partners, LLCCIK: 0001697591
Concentrated strategySector-focusedMomentum follower
Total reported value
$1.9B
Reporting period: 2026-06-30 · Number of holdings: 6
CAS Investment Partners, LLC disclosed 6 holdings in its latest 13F filing for the period ending 2026-06-30, with total reported value of $1.9B and a quarterly turnover rate of 19.4%.
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Personality snowflake
- Concentration
- 100
- Portfolio Stability
- 19.37
- Momentum
- 100
- Sector conviction
- 100
- Diversification
- 12
- Sizing Uniformity
- 81.44
CAS Investment Partners, LLC's disclosed holdings carry a Herfindahl concentration index of 0.645 — mathematically equivalent to about 2 equally-sized positions, well below its 6 actual disclosed holdings. That gap points to a strategy built around a small core of high-conviction bets rather than broad diversification.
Position sizes vary widely across the portfolio (a coefficient of variation of 1.86), with a handful of outsized bets alongside many smaller positions.
Recent activity leans toward adding more aggressively to already-large existing positions than to newly initiated ones (a 78.6 percentage-point tilt) — a pattern consistent with a momentum-following approach.
Source and citation information
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Recent moves
View source Form 13F filing on SEC.govSold out COF
New buy META
Trim CVNA
+396.8% $57.2M
Add HGV
-0.6% $67.7M
New buy VAC
Trim CDLXEUR
-90.9% -$3.3M
Holdings Map
New buyAddUnchangedTrim
Top 10 holdings by weight
Full holdings list this quarter
| # | Ticker | Issuer | Asset Subclass | Weight | Weight Change | Shares Change | 4Q Trend |
|---|---|---|---|---|---|---|---|
| 1 | CVNA | Carvana Co | Stock-Consumer Disc | 78.85% | -2.82% | +396.77% | |
| 2 | HGV | Hilton Grand Vacations Inc | Stock-Other | 14.48% | +2.75% | -0.63% | |
| 3 | META | Meta Platforms Inc-class A | Stock-Comm Services | 4.08% | +4.08% | NEW | |
| 4 | VAC | Marriott Vacations World | Stock-Consumer Disc | 2.16% | +2.16% | NEW | |
| 5 | SWIM | Latham Group Inc | Stock-Other | 0.32% | +0.03% | -0.64% | |
| 6 | CDLXEUR | Cardlytics Inc | Stock-Other | 0.11% | -0.20% | -90.94% |
Portfolio Performance
Performance for Q3 2026
-2.8%
Performance Last 4 Quarters
-3.6%
- Stdev
- +35.2%
- Beta
- +1.71
- Alpha
- -4.6%
- Max Drawdown
- -21.3%
- Annualized Perf
- +26.4%
- Batting Avg vs S&P
- +47.2%
- Sortino
- +1.57
- Stutzer
- +0.25
- Treynor
- +0.17
- Sterling
- +0.98
- Calmar
- +1.24
- Information Ratio
- +0.33
- Tracking Error
- +28.9%
- Stdev Down
- +18.8%
- Winning Months %
- +55.6%
- Losing Months %
- +44.4%
- Best 12 Months
- +108.4%
- Worst 12 Months
- -9.7%
- Efficiency Ratio
- +0.34
- Sharpe
- +0.84
- Stdev Sectors
- +45.2%
- Skewness
- +0.21
- Kurtosis
- -0.74
- Upside Potential
- +3.48
Reported value over time
Sector allocation
Sector allocation over time
Quarterly history
| Period | Holdings | Total value | Stability | Top holdings | |
|---|---|---|---|---|---|
| 2026 Q2 | 6 | $1.9B | 19 | ||
| 2026 Q1 | 5 | $1.7B | 49 | ||
| 2025 Q4 | 5 | $2.3B | 26 | ||
| 2025 Q3 | 5 | $2.2B | 33 | ||
| 2025 Q2 | 4 | $2.1B | 0 | ||
| 2025 Q1 | 4 | $1.5B | 100 | ||
| 2024 Q4 | 4 | $1.7B | 0 | ||
| 2024 Q3 | 5 | $1.5B | 0 | ||
| 2024 Q2 | 5 | $1.3B | 0 | ||
| 2024 Q1 | 5 | $1.1B | 0 | ||
| 2023 Q4 | 5 | $826.7M | 0 | ||
| 2023 Q3 | 5 | $780.0M | 0 | ||
| 2023 Q2 | 5 | $656.8M | 0 | ||
| 2023 Q1 | 5 | $487.5M | 0 | ||
| 2022 Q4 | 6 | $418.7M | 0 | ||
| 2022 Q3 | 5 | $547.7M | 0 | ||
| 2022 Q2 | 5 | $659.5M | 0 | ||
| 2022 Q1 | 6 | $1.5B | 0 | ||
| 2021 Q4 | 6 | $1.9B | 0 | ||
| 2021 Q3 | 6 | $2.1B | 0 | ||
| 2021 Q2 | 6 | $2.4B | 91 | ||
| 2021 Q1 | 6 | $2.0B | 24 | ||
| 2020 Q4 | 6 | $1.8B | 27 | ||
| 2020 Q3 | 6 | $1.4B | 43 | ||
| 2020 Q2 | 6 | $928.7M | 69 | ||
| 2020 Q1 | 6 | $454.8M | 29 | ||
| 2019 Q4 | 6 | $608.0M | 45 | ||
| 2019 Q3 | 6 | $452.8M | 49 | ||
| 2019 Q2 | 5 | $390.3M | 31 | ||
| 2019 Q1 | 4 | $334.7M | 41 | ||
| 2018 Q4 | 5 | $263.6M | 25 | ||
| 2018 Q3 | 5 | $329.0M | 15 | ||
| 2018 Q2 | 5 | $287.7M | 24 | ||
| 2018 Q1 | 5 | $229.1M | 62 | ||
| 2017 Q4 | 7 | $181.7M | 0 |
Holding changes this quarter
CAS Investment Partners, LLC's most significant position changes for 2026-06-30: Sold out: Capital One Financial CORP (COF); New buy: Meta Platforms Inc-class A (META); New buy: Marriott Vacations World (VAC); Add: Carvana Co (CVNA) — shares +396.77%; Trim: Hilton Grand Vacations Inc (HGV) — shares -0.63%.
| # | Ticker | Issuer | Weight Change | Shares Change | Action |
|---|---|---|---|---|---|
| 1 | META | Meta Platforms Inc-class A | +4.1% | NEW | New buy |
| 2 | HGV | Hilton Grand Vacations Inc | +2.8% | -0.63% | Trim |
| 3 | VAC | Marriott Vacations World | +2.2% | NEW | New buy |
| 4 | SWIM | Latham Group Inc | 0% | -0.64% | Trim |
| 5 | CDLXEUR | Cardlytics Inc | -0.2% | -90.94% | Trim |
| 6 | CVNA | Carvana Co | -2.8% | +396.77% | Add |
| 7 | COF | Capital One Financial CORP | -6% | EXIT | Sold out |
Filing History
FAQ
What is CAS Investment Partners, LLC and what type of investor is it?
CAS Investment Partners, LLC is an investment manager that files SEC Form 13F quarterly, disclosing its U.S. public equity holdings to regulators. As of the most recent reporting period (2026-06-30), the firm manages a tracked equity portfolio valued at approximately $1.9B, spread across 6 disclosed positions.
What are CAS Investment Partners, LLC's largest equity positions?
Based on the latest 13F filing, CAS Investment Partners, LLC's top holdings by market value are:
1. Carvana Co (CVNA) — $1.5B (78.8%)
2. Hilton Grand Vacations Inc (HGV) — $272.7M (14.5%)
3. Meta Platforms Inc-class A (META) — $76.7M (4.1%)
4. Marriott Vacations World (VAC) — $40.8M (2.2%)
5. Latham Group Inc (SWIM) — $6.0M (0.3%)
What changes did CAS Investment Partners, LLC make in its most recent portfolio filing?
In the latest reported quarter, CAS Investment Partners, LLC made 7 notable position adjustments: 2 new positions were initiated, 1 existing holdings were added to, 3 positions were partially reduced, and 1 were completely exited. The largest of these moves: Sold out: Capital One Financial CORP (COF); New buy: Meta Platforms Inc-class A (META); New buy: Marriott Vacations World (VAC); Add: Carvana Co (CVNA) — shares +396.77%; Trim: Hilton Grand Vacations Inc (HGV) — shares -0.63%
What sectors does CAS Investment Partners, LLC focus on?
CAS Investment Partners, LLC is concentrated in the following sectors based on its current disclosed equity portfolio:
• Consumer Discretionary: 95.2%
• Communication Services: 4.8%
Investment Profile
CAS Investment Partners, LLC returned an annualized 26.4% over the trailing 36 months — underperforming the S&P 500 by 4.6 points — based on a reconstructed track record of its disclosed 13F positions, with a beta of 1.71 (more volatile than the market) and a 47% quarterly batting average against the index.
Its portfolio is concentrated and long-term-holding, with 95.2% of the portfolio concentrated in Consumer Discretionary.
Its turnover score has risen from 0 to 19 over the past 4 quarters — a shift toward more active trading.
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Developer Access
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