Spruce House Investment Management LLC

In its 13F for Q1 2024 (holdings as of March 31, 2024, filed May 15, 2024), Spruce House Investment Management LLC reported 11 stock positions worth $1.4 billion. Its top holding was Carvana (CVNA) at 31.6% of the portfolio, followed by AppLovin Class A (APP, 24.9%) and Cimpress (CMPR, 13.1%). Compared with Q4 2023, it opened 5 new positions, added to 1 and reduced 3. The biggest buy was Colliers Intl GR-Subord Vot (CIGI, shares +30%) and the biggest sale Carvana (CVNA, shares −47%).

Most Recent 13F
Q2 2026
Location
NEW YORK, NY
CIK
0001543170
Portfolio Value
$1.4B (Q1 2024)
SEC Filing
0001493152-24-019891 ↗ filed May 15, 2024

Holdings Value

0$1.0B$2.0B$3.0B$4.0B Q1 2024: $1.4B $1.4B Q1 2024 Q2 2024: $1.5B Q2 2024 Q3 2024: $2.0B Q3 2024 Q4 2024: $2.7B Q4 2024 Q1 2025: $1.9B Q1 2025 Q2 2025: $2.7B Q2 2025 Q3 2025: $3.9B Q3 2025 Q4 2025: $3.4B Q4 2025 Q1 2026: $2.8B Q1 2026 Q2 2026: $3.4B Q2 2026

Holdings 11 stocks · $1.4B
CVNA Carvana Co. 31.61% 5,000,000 $439.6M Reduce -47.3%
APP AppLovin Corp. Class A 24.89% 5,000,000 $346.1M No change
CMPR Cimpress PLC 13.10% 2,058,904 $182.2M Reduce -12.7%
W Wayfair Inc. Class A 12.87% 2,637,000 $179.0M Reduce -27.8%
CIGI Colliers Intl GR-Subord Vot 11.44% 1,301,132 $159.1M Add +30.1%
DASH DoorDash Inc. Class A 2.97% 300,000 $41.3M No change
CNM Core & Main Inc. Class A 1.23% 300,000 $17.2M New
BECN Beacon Roofing Supply Inc. 0.73% 103,000 $10.1M New
GPI Group 1 Automotive Inc. 0.41% 19,500 $5.7M New
LAD Lithia Motors Inc. 0.38% 17,500 $5.3M New
GXO Gxo Logistics Inc. 0.38% 97,000 $5.2M New

Portfolio Sells Q4 2023 → Q1 2024
CVNA Carvana Co. Reduce -47.3% 31.61% −7.89
W Wayfair Inc. Class A Reduce -27.8% 12.87% −4.83
CMPR Cimpress PLC Reduce -12.7% 13.10% −1.74

Portfolio Buys Q4 2023 → Q1 2024
CIGI Colliers Intl GR-Subord Vot Add +30.1% 11.44% +1.48
CNM Core & Main Inc. Class A New 1.23% +1.23
BECN Beacon Roofing Supply Inc. New 0.73% +0.73
GPI Group 1 Automotive Inc. New 0.41% +0.41
LAD Lithia Motors Inc. New 0.38% +0.38
GXO Gxo Logistics Inc. New 0.38% +0.38

All Filings

QuarterPositions13F Reported ValueTop Holdings
Q2 2026 11$3.4BAPP, CVNA, CPAY, W, GXO
Q1 2026 11$2.8BCVNA, APP, CIGI, CPAY, DKNG
Q4 2025 10$3.4BAPP, CVNA, W, CPAY, CIGI
Q3 2025 10$3.9BAPP, CVNA, W, CIGI, GXO
Q2 2025 9$2.7BCVNA, APP, GXO, CIGI, W
Q1 2025 9$1.9BCVNA, APP, GXO, CIGI, CNM
Q4 2024 11$2.7BAPP, CVNA, CIGI, CMPR, W
Q3 2024 10$2.0BCVNA, APP, CIGI, CMPR, W
Q2 2024 10$1.5BCVNA, APP, CMPR, CIGI, W
Q1 2024 11$1.4BCVNA, APP, CMPR, W, CIGI