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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
+1.87%
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
$3.45B
AUM Growth
-$422M
Cap. Flow
-$452M
Cap. Flow %
-13.12%
Top 10 Hldgs %
100%
Holding
10
New
–
Increased
2
Reduced
3
Closed
–

Top Buys

Rank Stock Value
1
DKNG icon
DraftKings
DKNG
+$128M
2
CPAY icon
Corpay
CPAY
+$118M

Top Sells

Rank Stock Value
1
CVNA icon
Carvana
CVNA
+$496M
2
APP icon
Applovin
APP
+$162M
3
CMPR icon
Cimpress
CMPR
+$40.3M

Sector Composition

Rank Sector Weight
1 Consumer Discretionary 40.56%
2 Communication Services 35.17%
3 Industrials 11.49%
4 Technology 7.24%
5 Real Estate 5.55%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
APP icon
1
Applovin
APP
$116B
$1.21B 35.17%
1,799,729
-257,295
-13% -$162M
CVNA icon
2
Carvana
CVNA
$77.9B
$960M 27.84%
11,375,000
-6,671,440
-37% -$496M
W icon
3
Wayfair
W
$14.6B
$294M 8.51%
2,923,845
– –
CPAY icon
4
Corpay
CPAY
$25.7B
$250M 7.24%
830,000
+405,000
+95% +$118M
CIGI icon
5
Colliers International
CIGI
$5.19B
$191M 5.55%
1,301,133
– –
GXO icon
6
GXO Logistics
GXO
$5.55B
$171M 4.96%
3,250,000
– –
DKNG icon
7
DraftKings
DKNG
$11.9B
$145M 4.2%
4,203,834
+3,903,834
+1,301% +$128M
CNM icon
8
Core & Main
CNM
$8.71B
$112M 3.24%
2,150,000
– –
CMPR icon
9
Cimpress
CMPR
$2.31B
$97.6M 2.83%
1,465,366
-593,538
-29% -$40.3M
QXO
10
QXO Inc
QXO
$17.4B
$15.7M 0.45%
813,009
– –

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Spruce House Investment Management's Q4 2025 Portfolio in Review

As of Q4 2025, Spruce House Investment Management held 10 positions worth $3.45B, down 11% from $3.87B the previous quarter. Its ten largest holdings account for 100% of the portfolio.

Spruce House Investment Management withdrew a net $452M in Q4 2025, reducing 3 holdings. Its largest reduction was Carvana, cutting an estimated $496M.

By sector, the portfolio is most concentrated in Consumer Discretionary at 41% of assets, down from 42% a quarter earlier, followed by Communication Services and Industrials.

Against the trend, Spruce House Investment Management added an estimated $128M to DraftKings.

  • Spruce House Investment Management added most to DraftKings in Q4 2025, an estimated $128M increase.
  • Spruce House Investment Management's biggest Q4 2025 reduction was Carvana, cutting an estimated $496M.
  • Spruce House Investment Management's ten largest holdings make up 100% of its $3.45B portfolio in Q4 2025.
  • Spruce House Investment Management opened 0 new positions and closed 0 in Q4 2025.
  • Spruce House Investment Management's portfolio value fell 11% quarter-over-quarter to $3.45B.

Based on Spruce House Investment Management's 13F filing for Q4 2025, filed 17 Feb 2026.