Carvana Co. CVNA Chief Executive

What Ernest Garcia III says in public, and what their own SEC filings show they own.

Ernest Garcia III

Ernest Garcia III

CEO, President & Chairman · Carvana Co.

Co-founded Carvana in 2012. Led the company from startup to largest online used car retailer. Son of Ernest Garcia II (major shareholder).

@ernieg3
What they own

Ownership

Skin in the game
44/ 70
Level 3Stakeholder

III owns about 37% of Carvana Co., worth $5.01B at the last close.

SEC filings
569
Stake 80.1M reported shares ≈ 36.6% of shares outstanding — no 13G on file, so an estimate 35/35
Founder Not assessed — whether they founded the company has not been researched Not assessed
Tenure No start date on record, so tenure scores nothing 0/10
Track record Not assessed — their prior companies have not been researched Not assessed
Direction No open-market buys or sales in the last year 5/15
Discipline 1 late Form 4 in 569 filings · shares pledged as collateral 4/10

Nobody has researched this person's career yet, so founder and track record are left out of the score and of the total above.

Score = stake band (35) + founder (15) + tenure (10) + track record (15) + 12-month direction (−10…15) + filing discipline (10). An axis we have not researched is left out of the score and of the total it is shown over. Every input links to a filing or to our own research; the bands are ours.

Reported · Forms 3, 4, 5 80.1M Every lot on the person's own filings, as of Aug 13, 2025
Paper trail 1 late filing Form 4 covering a 2026-04-17 expiration (short position) in CARVANA CO. was filed 2026-05-01, 10 business days later; Section 16 allows two.
Reported Carvana Co. shares Forms 3, 4 and 5 · as of 2025-08-13
050M100M150M 201720182019202020212022202320242025 80.1M
How the stake is held
SecurityHeld viaShares
Class B Common StockDirect34,442,317
Class B Common StockSee Footnote11,952,000
Class B Common StockErnest C. Garcia III Multi-Generational Trust III11,952,000
Class B Common StockErnest Irrevocable 2004 Trust III11,834,021
Class B Common StockECG II SPE, LLC8,000,000
Class A Common StockErnest C. Garcia III Multi-Generational Trust III950,000
Class A Common StockErnest Irrevocable 2004 Trust III850,000
Class A Common StockSee Footnote100,000
Reported as of 2025-08-1380,080,338
Held directly
43%
Vehicles
4 trusts or entities
Share classes
2
Last filing
May 1, 2026
Every issuer Ernest Garcia III files as an insider of
CompanyRoleReportedBeneficial% of class
CVNA CARVANA CO. This page Director 80M
2025-08-13		 — —

Reported is every lot on the person's own Forms 3, 4 and 5 — direct and through trusts. Beneficial is the figure stated on the latest Schedule 13D/G cover page, which can exclude shares the person disclaims and include options exercisable within 60 days, so the two are never added together.

Paper trail

569 filings under CIK 0001017608 · captured 2026-09-05 · All filings on EDGAR ↗

On the record with shareholders

Earnings calls

  1. Q2 2026 Jul 29, 2026 Garcia argued that Carvana's results are now almost entirely a supply-and-execution story, and he brought data to prove it: the two regions where Carvana added the most reconditioning capacity grew inventory 57% and sales 54%, while the two where it added the least grew inventory 17% and sales 30%. His conclusion is that demand is not the binding constraint - inventory is, and inventory came in lighter than he wanted this quarter, which he said shows up either as lower sales or as lower unit economics. Against that he set the compounding case: almost 200,000 cars sold, still only 2% of the used-car market, and a 3-million-car, 13.5%-margin goal that has gone from six times today's scale to under four times in five quarters. He also defended giving fundamental gains back to customers as lower rates while capacity is tight, on the grounds that Carvana is now financially strong enough to make long-run choices. Read the call · 10 quotes →
In their own words

Podcasts, interviews & articles

6 recorded appearances

2026

Talk RV Capital Annual Gathering (Robert Vinall) · Jan 12, 2026 · 1h 6m

Mountainside Chat with Ernie Garcia, Founder of Carvana at RV Capital's 2026 Annual Gathering

A long, investor-audience conversation on how Carvana survived its near-death 2022, how Garcia thinks about capital structure and vertical integration, and why he measures the business by execution rather than market conditions.

Watch or read →

2025

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