CAS Investment Partners’ Return, AUM, and Holdings

The most valuable position the fund held at the end of the third quarter was in Carvana Co (NYSE:CVNA) counting 2.06 million Class A shares, worth $121.5 million, occupying 36.92% of its equity portfolio. Carvana Co is an e-commerce platform designed for an easier purchase of used vehicles. Year to date, the company’s stock price gained 95.03%, now trading at $35.71. In its third quarter of 2018 financial report, Carvan Co disclosed revenue of total $534.9 million, which represents an increase of 137% compared to third quarter of 2017, and basic and diluted net loss (including Gift) per Class A Share of $0.50. Revenue growth of 127% is better represented through the fact that the company delivered more cars to its customers in the third quarter of 2018, than in all of 2015 and 2016, combined. At the end of the third quarter, there were 15 smart money investors from Insider Monkey’s database long this stock, same as in the previous quarter.

The second largest stake the fund had in World Acceptance Corp. (NASDAQ:WRLD), holding 643,000 shares worth $73.53 million after it has raised its stake during the quarter by 7%. This position accounted for 22.34% of its portfolio. Over the past 12 months the company’s stock price gained 23.22 and at the moment of writing, it is trading at $98.25. The number of hedge funds bullish on this stock recently fell by 4, hence there were 10 investors from our database with long holdings of this stock on September 30.

Already mentioned, Herbalife Nutrition Ltd (NYSE:HLF) is the company in which the fund had the third largest stake at the end of Q3 2018. This position counted 1.13 million shares outstanding with a value of $61.67 million, accounting for 18.74% of the fund’s portfolio. Over the last six months, Herbalife’s stock price gained 5.75%, and it is currently trading at $56.47. The number of smart money investors long the stock, inched up by 8 in recent months, and at the end of the third quarter, there were 38 hedge funds bullish on the stock.

The remaining two positions in the fund’s portfolio were in Credit Acceptance Corp. (NASDAQ:CACC) and Cimpress NV (NASDAQ:CMPR), counting 108,000 shares with a value of $47.32 million and 183,085 shares valued $25.01 million, respectively.

Disclosure: None. This article is originally published at Insider Monkey.