Philippe Laffont's Coatue significantly increased its stake in Carvana (CVNA) during the second quarter of 2026, a period that preceded the company's announcement of record-breaking financial results. According to a quarterly report filed with the SEC, which discloses trades made by June 30, Coatue acquired an additional 2.6 million shares, bringing its total to 3.28 million. This represents a 381% increase in their holding.
The investment disclosure, made public in mid-August, reflects portfolio changes from the preceding quarter and is not indicative of current trading activity. Carvana later reported record Q2 revenue and profit on July 29, with sales growing 52% year-over-year. While Coatue has not publicly commented on the motive for the trade, the increased position was timed before the announcement of these strong quarterly results.