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).

What they own

Ownership

Skin in the game
44/ 100
Level 2Aligned

III owns about 38% of Carvana Co., worth $6.18B at the last close.

SEC filings
569
Stake 82.8M reported shares ≈ 37.8% of shares outstanding — no 13G on file, so an estimate 35/35
Founder No career file yet — the founder axis scores zero until one exists 0/15
Tenure Start date not on file — tenure scores zero until it is 0/10
Track record No career file yet — prior companies score zero until one exists 0/15
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

Score = stake band (35) + founder (15) + tenure (10) + track record (15) + 12-month direction (−10…15) + filing discipline (10). Every input links to a filing or to the career file; the bands are ours.

Reported · Forms 3, 4, 5 82.8M 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 82.8M
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 Comon StockDirect2,737,500
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 2025-08-1382,817,838
Held directly
45%
Vehicles
4 trusts or entities
Share classes
3
Last filing
May 1, 2026
Every issuer Ernest Garcia III files as an insider of
CompanyRoleReportedBeneficial% of class
CVNA CARVANA CO. This page Director 83M
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
  • Form 144 Form 144 filed 2026-05-01 announces an intended sale. Filing ↗
  • Pledge CARVANA CO. shares carry a pledge/borrowing footnote (first seen 2026-05-01): "E-SPE pledged 4,000,000 shares of the Issuer's Class B common stock and 5,000,000 units of Carvana Group, LLC Class A units (collectively, the "Pledged Shares") to secure its obligations under the transaction. During the term of the pledge, E-SPE retains the right to vote the Ple" Filing ↗
  • Sale 2026-05: sold 4,000,000 CARVANA CO. shares for $272,230,000 via ECG II SPE, LLC, with the 10b5-1 box unticked (1 filing). Filing ↗
  • Late 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. Filing ↗
  • Form 144 Form 144 filed 2025-08-06 announces an intended sale. Filing ↗
  • Sale 2025-05: sold 4,050,000 CARVANA CO. shares for $115,257,770 via ECG II SPE, LLC, partly under a 10b5-1 plan (2 filings). Filing ↗

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

2025

Who else runs a company like this one

Every CEO we track →