Clifford Sosin
CAS Investment Partners
Clifford Sosin (CAS Investment Partners) discloses a $1.75B portfolio across 5 US-listed positions in the latest 13F filing (2026Q1, filed May 15, 2026). The largest holding is CVNA at 81.7% of the book. Latticework's clone backtest puts this 13F book at +4.4%/yr vs SPY over 8.3 years.
About Clifford Sosin
Clifford Sosin runs CAS Investment Partners as an intensely concentrated long-only equity fund — five positions, with roughly 82% of the disclosed portfolio sitting in Carvana (CVNA) as of the latest filing. That positioning is not a recent development; Sosin has been a prominent Carvana bull through the stock's full cycle, including its near-bankruptcy episode in 2022, and has written publicly about his long-term thesis on the company's unit economics and used-car marketplace durability. His style sits in the tradition of high-conviction fundamental value investing, closer to a private-equity ownership mentality than a diversified long book. With only five reported equity positions and a top-five concentration of 100%, the 13F is essentially the entire picture of his long exposure — there is little hidden in a long tail. Readers should note, however, that any short positions, options overlays, or derivatives would not appear here, and that a single-stock weight of this magnitude makes the portfolio's reported performance inseparable from CVNA's own.
2026Q1 brief
Clifford Sosin's CAS Investment Partners held its $1.75B portfolio completely unchanged in Q1 2026 — no new positions, no adds, no trims, no exits across just five holdings. That itself is the story: with CVNA (Carvana) constituting a staggering 81.7% of assets, Sosin is running what is functionally a single-stock fund, and he chose to let the position ride despite what has been a volatile period for used-car markets and consumer credit. HGV (Hilton Grand Vacations, 11.7%) and COF (Capital One, 6.0%) round out the meaningful positions, with micro-weights in CDLX (0.3%) and SWIM (0.3%). The zero-activity filing underscores Sosin's unusually high-conviction, long-duration approach — a style that has historically rewarded patience on CVNA but leaves the portfolio extremely exposed to any deterioration in Carvana's unit economics or financing conditions. The key thing to watch in next quarter's filing is any reduction in the CVNA position, which would signal a rare change of view from one of the most concentrated super-investors in the universe.
AI-generated. Not investment advice.
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Frequently asked questions
- What stocks does Clifford Sosin own?
- As of 2026Q1, Clifford Sosin's 13F discloses 5 positions worth $1.75B. The top five holdings: CVNA (81.7%), HGV (11.7%), COF (6.0%), CDLX (0.3%), SWIM (0.3%). 13F filings cover long US-listed equities only — cash, bonds, shorts, and non-US positions are not disclosed.
- What did Clifford Sosin buy this quarter?
- The 2026Q1 filing shows no new purchases — no new positions were opened and no existing holdings were added to this quarter.
- How big is Clifford Sosin's portfolio?
- $1.75B across 5 positions per the latest 13F (filed May 15, 2026). The top five holdings account for 100% of the disclosed book.
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Long US equity 13F-HR filings only — no shorts, no derivatives. SEC filings at EDGAR (CIK 0001697591). Not investment advice.