Spruce House Investment Management LLC

In its 13F for Q1 2026 (holdings as of March 31, 2026, filed May 15, 2026), Spruce House Investment Management LLC reported 11 stock positions worth $2.8 billion. Its top holding was Carvana (CVNA) at 26.2% of the portfolio, followed by AppLovin Class A (APP, 25.4%) and Colliers Intl GR-Subord Vot (CIGI, 9.6%). Compared with Q4 2025, it opened 1 new position, added to 4 and reduced 3. The biggest buy was Colliers Intl GR-Subord Vot (CIGI, shares +93%) and the biggest sale AppLovin Class A (APP, shares −1%).

Most Recent 13F
Q2 2026
Location
NEW YORK, NY
CIK
0001543170
Portfolio Value
$2.8B (Q1 2026)
SEC Filing
0001543170-26-000006 ↗ filed May 15, 2026

Holdings Value

0$1.0B$2.0B$3.0B$4.0B Q1 2024: $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 $2.8B Q1 2026 Q2 2026: $3.4B Q2 2026

Holdings 11 stocks · $2.8B
CVNA Carvana Co. 26.21% 2,335,000 $734.1M Add +2.6%
APP AppLovin Corp. Class A 25.44% 1,790,000 $712.4M Reduce -0.5%
CIGI Colliers Intl GR-Subord Vot 9.58% 2,511,000 $268.4M Add +93.0%
CPAY Corpay Inc. 9.14% 880,000 $256.1M Add +6.0%
DKNG Draftkings Inc. Class A 7.45% 9,650,000 $208.6M Add +129.6%
W Wayfair Inc. Class A 6.98% 2,600,000 $195.5M Reduce -11.1%
GXO Gxo Logistics Inc. 6.02% 3,250,000 $168.5M No change
CNM Core & Main Inc. Class A 3.79% 2,150,000 $106.2M No change
CMPR Cimpress PLC 3.19% 1,222,633 $89.3M Reduce -16.6%
SRAD Sportradar Group AG-A 1.64% 2,750,000 $46.0M New
QXO Qxo Inc. 0.56% 813,009 $15.8M No change

Portfolio Sells Q4 2025 → Q1 2026
APP AppLovin Corp. Class A Reduce -0.5% 25.44% −9.73
W Wayfair Inc. Class A Reduce -11.1% 6.98% −1.53
CMPR Cimpress PLC Reduce -16.6% 3.19% +0.36

Portfolio Buys Q4 2025 → Q1 2026
CIGI Colliers Intl GR-Subord Vot Add +93.0% 9.58% +4.04
DKNG Draftkings Inc. Class A Add +129.6% 7.45% +3.25
CPAY Corpay Inc. Add +6.0% 9.14% +1.90
SRAD Sportradar Group AG-A New 1.64% +1.64
CVNA Carvana Co. Add +2.6% 26.21% −1.63

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