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SHIM

Spruce House Investment Management Portfolio holdings

AUM $2.8B
1-Year Est. Return 65.68%
This Fund
S&P 500
This Quarter Est. Return
-9.04%
1 Year Est. Return
+65.68%
3 Year Est. Return
+1,495.01%
5 Year Est. Return
+378.3%
10 Year Est. Return
+4,584.23%
AUM
$1.93B
AUM Growth
-$795M
Cap. Flow
-$615M
Cap. Flow %
-31.95%
Top 10 Hldgs %
100%
Holding
12
New
1
Increased
2
Reduced
2
Closed
3

Top Buys

Rank Stock Value
1
GXO icon
GXO Logistics
GXO
+$90M
2
CNM icon
Core & Main
CNM
+$49.2M
3
QXO
QXO Inc
QXO
+$11.1M

Top Sells

Rank Stock Value
1
APP icon
Applovin
APP
+$362M
2
CVNA icon
Carvana
CVNA
+$290M
3
BECN
Beacon Roofing Supply, Inc.
BECN
+$50.8M
4
DASH icon
DoorDash
DASH
+$50.3M
5
GPI icon
Group 1 Automotive
GPI
+$12.4M

Sector Composition

Rank Sector Weight
1 Consumer Discretionary 43.33%
2 Communication Services 28.3%
3 Industrials 20.19%
4 Real Estate 8.18%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
CVNA icon
1
Carvana
CVNA
$77.9B
$755M 39.19%
18,046,440
-6,558,560
-27% -$290M
APP icon
2
Applovin
APP
$116B
$545M 28.3%
2,057,024
-1,050,000
-34% -$362M
GXO icon
3
GXO Logistics
GXO
$5.55B
$166M 8.63%
4,253,997
+2,153,997
+103% +$90M
CIGI icon
4
Colliers International
CIGI
$5.19B
$157M 8.18%
1,301,133
– –
CNM icon
5
Core & Main
CNM
$8.71B
$118M 6.15%
2,450,000
+950,000
+63% +$49.2M
CMPR icon
6
Cimpress
CMPR
$2.31B
$93.1M 4.84%
2,058,904
– –
W icon
7
Wayfair
W
$14.6B
$69.8M 3.63%
2,180,385
– –
QXO
8
QXO Inc
QXO
$17.4B
$11M 0.57%
+813,009
New +$11.1M
DKNG icon
9
DraftKings
DKNG
$11.9B
$9.96M 0.52%
300,000
– –
DASH icon
10
DoorDash
DASH
$93.7B
– –
-300,000
Closed -$50.3M
GPI icon
11
Group 1 Automotive
GPI
$3.18B
– –
-29,500
Closed -$12.4M
BECN
12
DELISTED
Beacon Roofing Supply, Inc.
BECN
– –
-500,000
Closed -$50.8M

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Spruce House Investment Management's Q1 2025 Portfolio in Review

As of Q1 2025, Spruce House Investment Management held 12 positions worth $1.93B, down 29% from $2.72B the previous quarter. Its ten largest holdings account for 100% of the portfolio.

Spruce House Investment Management withdrew a net $615M in Q1 2025, closing 3 positions and reducing 2 holdings. Its most notable exit was Beacon Roofing Supply, Inc., an estimated $50.8M position sold in full.

By sector, the portfolio is most concentrated in Consumer Discretionary at 43% of assets, up from 43% a quarter earlier, followed by Communication Services and Industrials.

Against the trend, Spruce House Investment Management opened a new position in QXO Inc worth $11M.

  • Spruce House Investment Management's largest Q1 2025 buy was QXO Inc: 813,009 shares worth $11M.
  • Spruce House Investment Management added most to GXO Logistics in Q1 2025, an estimated $90M increase.
  • Spruce House Investment Management's biggest Q1 2025 reduction was Applovin, cutting an estimated $362M.
  • Spruce House Investment Management fully exited Beacon Roofing Supply, Inc. in Q1 2025, selling an estimated $50.8M.
  • Spruce House Investment Management's ten largest holdings make up 100% of its $1.93B portfolio in Q1 2025.
  • Spruce House Investment Management opened 1 new position and closed 3 in Q1 2025.
  • Spruce House Investment Management's portfolio value fell 29% quarter-over-quarter to $1.93B.

Based on Spruce House Investment Management's 13F filing for Q1 2025, filed 15 May 2025.