Equity Research Database

Institutional Investment Pitches

Explore thousands of hedge fund pitches, high-conviction equity research memos, and portfolio manager commentary extracted from quarterly letters.

Recurve Capital's investment thesis on Carvana ($CVNA) — Q2 2025 | Buyside Digest

$CVNANASDAQCarvana

BULL

Recurve Capital—CVNA

Fund Letter

Q2 2025

Published July 14, 2025

$75.77USD

+1.6% vs last month

$69.50Pitched

+9.0% since pitch

Market Cap$102.3B

P/E (TTM)N/A

52-Wk RangeN/A

Div. YieldN/A

Recurve Capital returned +31% gross in Q2 2025 and +14.8% gross YTD (+12% net), outperforming major indices. Carvana remains the...

— Aaron Chan

BSD Research Exclusive

Full equity research memos, financial breakdowns, and hedge fund thesis write-ups are reserved for BSD Research ($55/mo) and Pro subscribers.

6,000+ Institutional Pitches

Proprietary AI Analysis

100 Letter Unlocks/Cycle

Already a Research or Pro subscriber? Sign In

◆ Keep Reading

Other investors who've written on Carvana

Carvana is an online used car retailer that enables customers to buy, sell, and finance vehicles through a fully digital platform. The stock sold...

Carvana possesses a structurally superior business model characterized by higher gross margins compared to traditional peers. Its ultimate success...

Carvana finished the year with another strong quarter.