SPRUCE HOUSE INVESTMENT MANAGEMENT LLCtracked
Open in PORT →Compare →Tear sheet →← all managersCIK 1543170
Reported long US book (13F) · Δ vs 2025-Q4 · methodology
Implied return what this book implies methodology →
As filed = each book applied at quarter-end (what it did) · As copyable = applied at the 45-day filing deadline (what a follower could have earned).
Computing…
Exposures · what it owns, by sector & size (2026-Q1)
By sector
By market cap
By region
By industry group GICS — finer than sector
| Industry group | Weight | Names |
|---|---|---|
| Specialty Retail | 33.19% | 2 |
| Software & IT Services | 25.44% | 1 |
| Real Estate Management & Development | 9.58% | 1 |
| Commercial Services & Supplies | 9.14% | 1 |
| Entertainment | 7.45% | 1 |
| Transportation Infrastructure | 6.02% | 1 |
| Distributors | 4.36% | 2 |
| Media & Publishing | 3.19% | 1 |
| Unclassified | 1.64% | 1 |
Top holdings
| # | Ticker | Name | Sector | Weight |
|---|---|---|---|---|
| 1 | CVNA | CARVANA CO. | Consumer Discretionary | 26.21% |
| 2 | APP | AppLovin Corp | Communication Services | 25.44% |
| 3 | CIGI | Colliers International Group Inc. | Real Estate | 9.58% |
| 4 | CPAY | CORPAY, INC. | Financials | 9.14% |
| 5 | DKNG | DraftKings Inc. | Communication Services | 7.45% |
| 6 | W | Wayfair Inc. | Consumer Discretionary | 6.98% |
| 7 | GXO | GXO Logistics, Inc. | Industrials | 6.02% |
| 8 | CNM | Core & Main, Inc. | Consumer Discretionary | 3.79% |
| 9 | CMPR | CIMPRESS plc | Communication Services | 3.19% |
| 10 | SRAD | SPORTRADAR GROUP AG | Unclassified | 1.64% |
10/11 classified; unclassified names are still shown.
Sector allocation over time · how the sector mix & top names shifted each quarter
Sector allocation over 46 reported quarters, 2014-Q4 to 2026-Q1, 26 bands (top holdings within each sector). Latest quarter 2026-Q1: CVNA 26.2%, APP 25.4%, CIGI 9.6%, CPAY 9.1%, DKNG 7.4%. Use the arrow keys to read a quarter.
Sector is classified on each name's CURRENT fundamentals, not point-in-time — apparent sector drift can reflect the market re-rating a holding, not a manager trade. 13F is a lagged quarterly snapshot of long positions in US-listed securities only — foreign companies held via a US listing or ADR ARE included, but shares listed only on non-US exchanges (plus shorts, options and cash) are not. Latest quarter: 98.4% of the book is classified (unclassified names are still shown).
Style box · size × value-growth placement (2026-Q1), classified on today's fundamentals (not point-in-time) — load into PORT to overlay your own book
Classified: 83.9% of book weight (8/11 names) · unclassified 16.1%.
Contribution holdings-based, any period
Attribution lands once this book has priced history across the window. Try a longer period.
Holdings· 11 positions (2026-Q1) · largest first · Δ vs 2025-Q4
| # | Security | Shares | Value | Weight | Δ QoQ |
|---|---|---|---|---|---|
| 1 | CVNACARVANA CO | 2,335,000 | $734M | 26.2% | ADD 3% |
| 2 | APPAPPLOVIN CORP | 1,790,000 | $712M | 25.4% | HOLD |
| 3 | CIGICOLLIERS INTL GROUP INC | 2,511,000 | $268M | 9.6% | ADD 93% |
| 4 | CPAYCORPAY INC | 880,000 | $256M | 9.1% | ADD 6% |
| 5 | DKNGDRAFTKINGS INC NEW | 9,650,000 | $209M | 7.4% | ADD 130% |
| 6 | WWAYFAIR INC | 2,600,000 | $196M | 7.0% | TRIM −11% |
| 7 | GXOGXO LOGISTICS INCORPORATED | 3,250,000 | $169M | 6.0% | HOLD |
| 8 | CNMCORE & MAIN INC | 2,150,000 | $106M | 3.8% | HOLD |
| 9 | CMPRCIMPRESS PLC | 1,222,633 | $89M | 3.2% | TRIM −17% |
| 10 | SRADSPORTRADAR GROUP AG | 2,750,000 | $46M | 1.6% | NEW |
| 11 | QXOQXO INC | 813,009 | $16M | 0.6% | HOLD |
Position trends· top 11 holdings · shares held over 6 quarters
| Security | 2024-Q4 | 2025-Q1 | 2025-Q2 | 2025-Q3 | 2025-Q4 | 2026-Q1 | Latest value |
|---|---|---|---|---|---|---|---|
| CVNACARVANA CO | 4.9M | 3.6M | 3.6M | 3.6M | 2.3M | 2.3M | $734M |
| APPAPPLOVIN CORP | 3.1M | 2.1M | 2.1M | 2.1M | 1.8M | 1.8M | $712M |
| CIGICOLLIERS INTL GROUP INC | 1.3M | 1.3M | 1.3M | 1.3M | 1.3M | 2.5M | $268M |
| CPAYCORPAY INC | — | — | — | 425K | 830K | 880K | $256M |
| DKNGDRAFTKINGS INC NEW | 300K | 300K | 300K | 300K | 4.2M | 9.7M | $209M |
| WWAYFAIR INC | 2.2M | 2.2M | 3.0M | 2.9M | 2.9M | 2.6M | $196M |
| GXOGXO LOGISTICS INCORPORATED | 2.1M | 4.3M | 3.6M | 3.3M | 3.3M | 3.3M | $169M |
| CNMCORE & MAIN INC | 1.5M | 2.5M | 2.5M | 2.1M | 2.1M | 2.1M | $106M |
| CMPRCIMPRESS PLC | 2.1M | 2.1M | 2.1M | 2.1M | 1.5M | 1.2M | $89M |
| SRADSPORTRADAR GROUP AG | — | — | — | — | — | 2.8M | $46M |
| QXOQXO INC | — | 813K | 813K | 813K | 813K | 813K | $16M |
Green = added, red = trimmed, grey = held; a dash is a quarter with no 13F on file — a gap, not an exit.
Related· where to look next
Where this firm's principals came from, and what its alumni went on to found.
joins filed 13F data only — no style, strategy or performance similarity is claimed · 13F 2026-Q1
Also hold CVNA — other Section 13(f) filers reporting a long position in this book's largest tickered holding for 2026-Q1. Lagged quarterly filings (up to 45 days after quarter-end); “% of shares out” is omitted where the reported share count can't carry it. Institutional 13F holdings sum to 105.5% of shares outstanding. Readings above 100% reflect securities-lending double counting: shares on loan to short sellers are reported long by both the lending institution and the one that bought them. FINRA short interest of 73,007,090 shares (settlement 2026-05-15) accounts for the excess.
Filers outside the free window show locked, not hidden.