Rob Vinall’s (RV CAPITAL) Top Holdings, Trades & Investment Strategy
Wednesday, May 13, 2026 · Johnny Hopkins
RV Capital AG reported an equity portfolio of approximately $429.5 million in the latest reported quarter, reflecting founder Rob Vinall’s highly concentrated, long-term investment philosophy centered around owning a small number of high-conviction businesses.
Known for his focused approach and willingness to hold positions through volatility, Vinall’s portfolio continues to emphasize quality businesses, founder-led companies, and businesses with durable competitive advantages.
The portfolio is extremely concentrated, with the top 10 holdings accounting for approximately 99.0% of total assets. Consistent with RV Capital’s concentrated investing framework, turnover remains very low, with only modest adjustments across existing core positions rather than broad portfolio reshuffling.
Portfolio Snapshot
Total Portfolio Value: ~$429.5M
Top 10 Weight: 99.0% (extremely concentrated)
Turnover: Very Low — limited adjustments within core long-term holdings
Top Holdings & Weights
Carvana Co (CVNA) — ~$128.0M (29.81%)
Meta Platforms (META) — ~$90.0M (20.95%)
Credit Acceptance Corp (CACC) — ~$57.8M (13.47%)
Interactive Brokers Group (IBKR) — ~$48.4M (11.27%)
Wix.com (WIX) — ~$32.7M (7.62%)
H World Group (01179.HK) — ~$28.4M (6.61%)
Yum China Holdings (YUMC) — ~$21.2M (4.94%)
Alphabet (GOOGL) — ~$10.2M (2.37%)
Microsoft (MSFT) — ~$5.6M (1.29%)
Salesforce (CRM) — ~$2.9M (0.68%)
Key Takeaways
Extreme Concentration & High Conviction
The portfolio structure reflects an unusually concentrated approach, with a handful of positions accounting for nearly all invested assets. Carvana, Meta Platforms, Credit Acceptance, and Interactive Brokers collectively dominate the portfolio, underscoring Vinall’s preference for deep conviction over diversification.
Founder-Led & Platform-Oriented Businesses
Several holdings fit RV Capital’s long-standing preference for scalable platforms and founder-driven companies. Interactive Brokers, Wix, Meta Platforms, and Carvana all possess strong operating leverage, network effects, or customer ecosystem advantages that can compound over long periods.
Consumer & Financial Exposure
The portfolio balances consumer-facing growth businesses such as Carvana, Yum China, and H World Group with highly profitable financial platforms like Credit Acceptance and Interactive Brokers. This combination provides exposure to both secular growth and financially resilient cash-generative models.
Biggest Changes Last Quarter
Notable Trims
Carvana Co (CVNA)
Shares reduced by -141,852 (-31.86%)
→ Despite remaining the portfolio’s largest holding, the sizable trim likely reflects partial profit-taking following substantial share price appreciation and elevated volatility in the stock.
Interactive Brokers Group (IBKR)
Shares reduced by -46,789 (-5.85%)
→ The modest reduction appears more consistent with portfolio rebalancing rather than a significant shift in long-term conviction.
Meta Platforms (META)
Shares reduced by -3,401 (-2.43%)
→ A relatively minor trim that still leaves Meta as one of the fund’s highest-conviction positions.
Full Exits Last Quarter
PDD Holdings (PDD)
→ The complete exit from PDD suggests Vinall may have reassessed either the competitive landscape, geopolitical risks tied to Chinese equities, or relative opportunity costs elsewhere in the portfolio.
Summary
RV Capital AG’s latest filing highlights one of the more concentrated portfolios among global investment managers, reflecting Rob Vinall’s willingness to commit heavily to a limited number of businesses with long-term compounding potential. The portfolio remains heavily tilted toward technology-enabled platforms, consumer franchises, and specialized financial businesses with scalable economics.
Recent activity was relatively muted outside of a notable reduction in Carvana and the full exit from PDD Holdings, reinforcing the firm’s long-term, conviction-driven investment style. Overall, the filing continues to reflect a patient approach centered on owning a concentrated collection of businesses believed to possess durable competitive advantages and significant long-term intrinsic value upside.