SPRUCE HOUSE INVESTMENT MANAGEMENT LLC Long-Term Concentrated

Name: SPRUCE HOUSE INVESTMENT MANAGEMENT LLC Q1 2026 13F Filing | 13F Explorer
Creator: SPRUCE HOUSE INVESTMENT MANAGEMENT LLC
Published: 2026-05-15

Location: NEW YORK, NY

CIK: 0001543170 · Show all filings

Period: Q1 2026 (← Previous)

Filing Date: May 15, 2026

Total Value: $2.801B (100.0% shares, 0.0% debt)

Holdings (11)

New Positions (1)

SRAD SPORTRADAR GROUP AG 1.6%

Value $46.03M Shares 2,750,000 Est. Cost $16.74 Unrealized —

Ticker	Issuer	Shares	Value	%	Est. Cost	Unrealized	Class	CUSIP
SRAD	SPORTRADAR GROUP AG	2,750,000	$46.03M	1.6%	$16.74	—	CLASS A ORD SHS	H8088L103

Increased Positions (4)

CVNA CARVANA CO 26.2%

Value $734M (-23.5%) Shares 2,335,000 (+2.6%) Est. Cost $50.35 Unrealized +711.3%

CIGI COLLIERS INTL GROUP INC 9.6%

Value $268M (+40.3%) Shares 2,511,000 (+93.0%) Est. Cost $93.87 Unrealized +43.1%

DKNG DRAFTKINGS INC NEW 7.4%

Value $209M (+44.0%) Shares 9,650,000 (+129.6%) Est. Cost $30.87 Unrealized -6.3%

CPAY CORPAY INC 9.1%

Value $256M (+2.5%) Shares 880,000 (+6.0%) Est. Cost $306.18 Unrealized +7.0%

Ticker	Issuer	Shares	Value	%	Est. Cost	Unrealized	Class	CUSIP
CVNA	CARVANA CO	2,335,000 (+2.6%)	$734M (-23.5%)	26.2%	$50.35	+711.3%	CL A	146869102
CIGI	COLLIERS INTL GROUP INC	2,511,000 (+93.0%)	$268M (+40.3%)	9.6%	$93.87	+43.1%	SUB VTG SHS	194693107
DKNG	DRAFTKINGS INC NEW	9,650,000 (+129.6%)	$209M (+44.0%)	7.4%	$30.87	-6.3%	COM CL A	26142V105
CPAY	CORPAY INC	880,000 (+6.0%)	$256M (+2.5%)	9.1%	$306.18	+7.0%	COM SHS	219948106

Decreased Positions (2)

W WAYFAIR INC 7.0%

Value $196M (-33.4%) Shares 2,600,000 (-11.1%) Est. Cost $63.55 Unrealized +56.4%

CMPR CIMPRESS PLC 3.2%

Value $89.25M (-8.5%) Shares 1,222,633 (-16.6%) Est. Cost $129.96 Unrealized -42.1%

Ticker	Issuer	Shares	Value	%	Est. Cost	Unrealized	Class	CUSIP
W	WAYFAIR INC	2,600,000 (-11.1%)	$196M (-33.4%)	7.0%	$63.55	+56.4%	CL A	94419L101
CMPR	CIMPRESS PLC	1,222,633 (-16.6%)	$89.25M (-8.5%)	3.2%	$129.96	-42.1%	SHS EURO	G2143T103

Unchanged Positions (4)

APP APPLOVIN CORP 25.4%

Value $712M Shares 1,790,000 Est. Cost $54.58 Unrealized +829.1%

CNM CORE & MAIN INC 3.8%

Value $106M Shares 2,150,000 Est. Cost $49.17 Unrealized +14.4%

GXO GXO LOGISTICS INCORPORATED 6.0%

Value $169M Shares 3,250,000 Est. Cost $47.44 Unrealized +24.6%

QXO QXO INC 0.6%

Value $15.79M Shares 813,009 Est. Cost $13.60 Unrealized +77.5%

Ticker	Issuer	Shares	Value	%	Est. Cost	Unrealized	Class	CUSIP
APP	APPLOVIN CORP	1,790,000	$712M	25.4%	$54.58	+829.1%	COM CL A	03831W108
CNM	CORE & MAIN INC	2,150,000	$106M	3.8%	$49.17	+14.4%	CL A	21874C102
GXO	GXO LOGISTICS INCORPORATED	3,250,000	$169M	6.0%	$47.44	+24.6%	COMMON STOCK	36262G101
QXO	QXO INC	813,009	$15.79M	0.6%	$13.60	+77.5%	COM NEW	82846H405