SPRUCE HOUSE INVESTMENT MANAGEMENT LLC
Registered adviserRegulatory profile
From Form ADV, the SEC filer profile, 13D/13G type codes and N-CEN, never from the name.
| Rosters | Regulatory AUM | Main clients |
|---|---|---|
| Apr 2026 to Oct 2026 | $5,235,479,309 | Pooled investment vehicles (100%) |
| Apr 2025 to Mar 2026 | $3,552,879,746 | Pooled investment vehicles (100%) |
| Apr 2024 to Mar 2025 | $2,277,183,030 | Pooled investment vehicles (100%) |
| May 2023 to Mar 2024 | $1,318,097,419 | Pooled investment vehicles (100%) |
| Apr 2023 | $1,318,097,419 | Pooled investment vehicles (100%) |
| Apr 2022 to Mar 2023 | $4,686,597,375 | Pooled investment vehicles (100%) |
Portfolio style
Measured from the filed 13F common-share book for Jun 30, 2026, never from the firm's own description.
Closest benchmark: the Nasdaq-100 as of 2026-06-30, active share 99.3%; sector active share 59.3% against the combined 13F book's sector weights.
Over time 26 measured quarters
How the bands are measured
Style bands measure the filed 13F common-share book each closed quarter, tested in this order. Unknown: under $10,000,000 of valued equity or 5 stocks. Index-like (100+ stocks): active share of 20% or less against the closest benchmark, which is the S&P 500, S&P MidCap 400, S&P SmallCap 600, Russell 1000, Russell 2000, Nasdaq-100 or Dow Jones Industrial Average (weighted by an index-tracking fund's reported holdings or the index's constituents nearest the quarter end, over the names resolved to companies, and only when those are 90%+ of its weight) or every 13F filer's combined book, or index series holding 80%+ of the registered fund assets it advises (N-CEN) and equal to 50%+ of its book. Systematic-like: 500+ stocks, 100%+ annual turnover and a top 10 weight of 25% or less. Concentrated: a top 10 weight of 60%+ or 12 or fewer effective positions. Diversified active: none of these. Turnover is the smaller of buys and sells over average equity value, summed over four quarters: low under 30%, high 100%+. Horizon is the value-weighted number of quarters each position has been held: short under 4, long 12+.
Clone Performance
Build a hypothetical price-return history from this filer's public 13F holdings.
View clone backtestPortfolio Concentration
11 tracked positions · as of Jun 30, 2026 · Δ vs Mar 31, 2026Portfolio Trend
Sector Breakdown
As of Jun 30, 2026| Sector | % Portfolio | Value |
|---|---|---|
| Consumer Cyclical | 37.7% | $1,281,121,974 |
| Communication Services | 27.1% | $922,261,700 |
| Industrials | 15.0% | $508,303,071 |
| Technology | 12.7% | $430,327,950 |
| Real Estate | 7.6% | $257,484,031 |
Last Quarter's Activity
Export CSVAdded To
Positions the filer increased| Ticker | Company | Δ Shares | Shares | Value | Open |
|---|---|---|---|---|---|
| CVNA | Carvana Co. | +9,340,000 | 11,675,000 | $768,448,500 | |
| SRAD | Sportradar Group AG | +6,405,000 | 9,155,000 | $137,050,350 | |
| GXO | GXO Logistics, Inc. | +2,000,000 | 5,250,000 | $266,175,000 | |
| W | Wayfair Inc. | +309,700 | 2,909,700 | $268,914,474 | |
| CIGI | Colliers International Group Inc. | +234,325 | 2,745,325 | $257,484,031 | |
| No positions match the current search. | |||||
Trimmed
Positions the filer reducedNew Positions
Positions the filer opened this quarterSold Out
Positions the filer fully exited| Ticker | Company | Type | Shares | Value (USD) | % of Portfolio | History |
|---|---|---|---|---|---|---|
| APP |
AppLovin Corp
Communication Services
|
Held | 1,790,000 | $922,261,700 | 27.13% | |
| CVNA |
Carvana Co.
Consumer Cyclical
|
Added | 11,675,000 | $768,448,500 | 22.60% | |
| CPAY |
Corpay, Inc.
Technology
|
Held | 880,000 | $293,277,600 | 8.63% | |
| W |
Wayfair Inc.
Consumer Cyclical
|
Added | 2,909,700 | $268,914,474 | 7.91% | |
| GXO |
GXO Logistics, Inc.
Industrials
|
Added | 5,250,000 | $266,175,000 | 7.83% | |
| CIGI |
Colliers International Group Inc.
Real Estate
|
Added | 2,745,325 | $257,484,031 | 7.57% | |
| DKNG |
DraftKings Inc.
Consumer Cyclical
|
Held | 9,650,000 | $243,759,000 | 7.17% | |
| SRAD |
Sportradar Group AG
Technology
|
Added | 9,155,000 | $137,050,350 | 4.03% | |
| CMPR |
CIMPRESS plc
Industrials
|
Held | 1,222,633 | $124,341,776 | 3.66% | |
| CNM |
Core & Main, Inc.
Industrials
|
Held | 2,150,000 | $103,737,500 | 3.05% | |
| QXO |
QXO, Inc.
Industrials
|
Held | 813,009 | $14,048,795 | 0.41% |
Covers the securities this platform tracks: U.S.-listed common stock and the put/call positions reported on it. A 13F can also report security types outside that coverage — preferred shares, bonds, warrants, untracked share classes — so the filing's own declared total can exceed the figures above. The source filing is linked at the top of this table.