Spruce House Investment Management LLC
In its 13F for Q2 2025 (holdings as of June 30, 2025, filed August 14, 2025), Spruce House Investment Management LLC reported 9 stock positions worth $2.7 billion. Its top holding was Carvana (CVNA) at 44.9% of the portfolio, followed by AppLovin Class A (APP, 26.6%) and Gxo Logistics (GXO, 6.5%). Compared with Q1 2025, it added to 1 and reduced 1. The biggest buy was Wayfair Class A (W, shares +38%) and the biggest sale Gxo Logistics (GXO, shares −15%).
- Most Recent 13F
- Q2 2026
- Location
- NEW YORK, NY
- CIK
- 0001543170
- Portfolio Value
- $2.7B (Q2 2025)
- SEC Filing
- 0001543170-25-000008 ↗ filed Aug 14, 2025
Holdings Value
Holdings 9 stocks · $2.7B
| CVNA Carvana Co. | 44.87% | 3,609,288 | $1.2B | No change |
| APP AppLovin Corp. Class A | 26.57% | 2,057,024 | $720.1M | No change |
| GXO Gxo Logistics Inc. | 6.47% | 3,600,000 | $175.3M | Reduce -15.4% |
| CIGI Colliers Intl GR-Subord Vot | 6.29% | 1,301,133 | $170.4M | No change |
| W Wayfair Inc. Class A | 5.66% | 3,000,000 | $153.4M | Add +37.6% |
| CNM Core & Main Inc. Class A | 5.46% | 2,450,000 | $147.9M | No change |
| CMPR Cimpress PLC | 3.57% | 2,058,904 | $96.8M | No change |
| QXO Qxo Inc. | 0.65% | 813,009 | $17.5M | No change |
| DKNG Draftkings Inc. Class A | 0.47% | 300,000 | $12.9M | No change |
Portfolio Sells Q1 2025 → Q2 2025
| GXO Gxo Logistics Inc. | Reduce -15.4% | 6.47% | −2.16 |
Portfolio Buys Q1 2025 → Q2 2025
| W Wayfair Inc. Class A | Add +37.6% | 5.66% | +2.03 |
All Filings
| Quarter | Positions | 13F Reported Value | Top Holdings |
|---|---|---|---|
| Q2 2026 | 11 | $3.4B | APP, CVNA, CPAY, W, GXO |
| Q1 2026 | 11 | $2.8B | CVNA, APP, CIGI, CPAY, DKNG |
| Q4 2025 | 10 | $3.4B | APP, CVNA, W, CPAY, CIGI |
| Q3 2025 | 10 | $3.9B | APP, CVNA, W, CIGI, GXO |
| Q2 2025 | 9 | $2.7B | CVNA, APP, GXO, CIGI, W |
| Q1 2025 | 9 | $1.9B | CVNA, APP, GXO, CIGI, CNM |
| Q4 2024 | 11 | $2.7B | APP, CVNA, CIGI, CMPR, W |
| Q3 2024 | 10 | $2.0B | CVNA, APP, CIGI, CMPR, W |
| Q2 2024 | 10 | $1.5B | CVNA, APP, CMPR, CIGI, W |
| Q1 2024 | 11 | $1.4B | CVNA, APP, CMPR, W, CIGI |