Spruce House Investment Management’s FirstService FSV Stock Holding History

Spruce House Investment Management’s Portfolio FSV Stock Details FSV Fund Activity

Bought

Maintained

Sold

Quarter	Market Value	Status	Shares	Change in Stake	Trade Value	Portfolio Weight	Portfolio Position
2017 Q2	–	Sell	-1,000,000	Closed	-$60.4M	–	9
2017 Q1	$60.4M	Sell	1,000,000 -1,453,036	-59%	-$78.2M	5.19%	6
2016 Q4	$116M	Hold	2,453,036	–	–	11.69%	4
2016 Q3	$114M	Hold	2,453,036	–	–	12.97%	4
2016 Q2	$112M	Hold	2,453,036	–	–	15.63%	4
2016 Q1	$101M	Hold	2,453,036	–	–	13.67%	4
2015 Q4	$99.1M	Hold	2,453,036	–	–	15.56%	4
2015 Q3	$79.5M	Hold	2,453,036	–	–	14.73%	4
2015 Q2	$68.2M	Buy	+2,453,036	New	+$64.7M	13.45%	4

Other funds holding FSV

T. Rowe Price Associates Baltimore, Maryland $999B AUM 46.22% 1-Year Est. Return

William Blair Investment Management Chicago, Illinois $33.3B AUM 44.76% 1-Year Est. Return

VBA

Van Berkom & Associates Montreal, Quebec, Canada $3.1B AUM 12.88% 1-Year Est. Return

Fiera Capital (Canada) Montreal, Quebec, Canada $27.6B AUM 23.56% 1-Year Est. Return

PNC Financial Services Group Pittsburgh, Pennsylvania $202B AUM 37.79% 1-Year Est. Return

FAM

Fred Alger Management New York $30B AUM 76.99% 1-Year Est. Return

Renaissance Technologies New York $72.6B AUM 54.88% 1-Year Est. Return

Neuberger Berman Group New York $150B AUM 40.08% 1-Year Est. Return

Vanguard Group Malvern, Pennsylvania $6.9T AUM 27.45% 1-Year Est. Return

Bank of Montreal Toronto, Ontario, Canada $304B AUM 35.64% 1-Year Est. Return

Spruce House Investment Management's FSV Position: Q2 2017 in Review

Spruce House Investment Management sold out of FirstService (FSV) in Q2 2017, closing a stake of 1,000,000 shares — an estimated $60.4M sold.

Spruce House Investment Management first reported a position in FSV in Q2 2015 and held it in 8 quarters. The position peaked at $116M in Q4 2016. 110 funds tracked by Wall St. Rank hold FSV as of Q2 2017.

Spruce House Investment Management reported no remaining FirstService position as of Q2 2017 after selling out during the quarter.
Spruce House Investment Management sold 1,000,000 FirstService shares in Q2 2017, an estimated $60.4M.
Spruce House Investment Management first reported a position in FirstService in Q2 2015 and held it in 8 quarters.
Spruce House Investment Management's FirstService position peaked at $116M in Q4 2016.
110 funds tracked by Wall St. Rank held FirstService as of Q2 2017.

Based on Spruce House Investment Management's 13F filing for Q2 2017, filed 14 Aug 2017.