SPRUCE HOUSE INVESTMENT MANAGEMENT LLC 13F: Quarter-over-Quarter Portfolio Changes
SPRUCE HOUSE INVESTMENT MANAGEMENT LLC reported a disclosed portfolio value of approximately $2.8 billion in its latest SEC Form 13F-HR filing for Q1 2026, down 18.8% quarter on quarter. Over the quarter, the fund initiated 1 new position, bought more shares in 4 holdings, and trimmed 3 holdings.
SPRUCE HOUSE INVESTMENT MANAGEMENT LLC's top buy was Draftkings INC New (DKNG) . The fund bought 129.6% more shares, lifting the position's portfolio weight by 3.2 percentage points. Its top sell was Cimpress PLC (CMPR) . The fund sold 16.6% of its previously reported shares, reducing the position's portfolio weight by 0.4 percentage points.
New PositionsQ1 2026
Securities disclosed for the first time in Q1 2026 that were not present in the prior 13F-HR filing.
| Company | Ticker | Initial Portfolio Weight | History |
|---|---|---|---|
| SPORTRADAR GROUP AG | SRAD | 1.6% | History → |
Top BuysQ1 2026
The fund's top buys among existing positions in Q1 2026. Ranked by portfolio-weight impact, with the percentage of additional shares shown separately.
| Company | Ticker | Portfolio Weight Change | More Shares | History |
|---|---|---|---|---|
| DRAFTKINGS INC NEW | DKNG | +3.2% | +129.6% | History → |
| COLLIERS INTL GROUP INC | CIGI | +4.0% | +93.0% | History → |
| CORPAY INC | CPAY | +1.9% | +6.0% | History → |
| CARVANA CO | CVNA | +-1.6% | +2.6% | History → |
Top SellsQ1 2026
The fund's top sells among positions it retained in Q1 2026. Ranked by portfolio-weight impact. Full exits are listed separately.
| Company | Ticker | Portfolio Weight Change | Shares Sold | History |
|---|---|---|---|---|
| CIMPRESS PLC | CMPR | 0.4% | 16.6% | History → |
| WAYFAIR INC | W | -1.5% | 11.1% | History → |
| APPLOVIN CORP | APP | -9.7% | 0.5% | History → |
Net Portfolio Value ChangeQ1 2026
- $3.4BPrior quarter
- $2.8BCurrent quarter
- $-0.6BNet delta
- -18.8%% change
Methodology & FAQ
How SPRUCE HOUSE INVESTMENT MANAGEMENT LLC Quarterly Changes Are Computed
All deltas are sourced from sequential SEC Form 13F-HR filings for SPRUCE HOUSE INVESTMENT MANAGEMENT LLC: each row joins the most recent filing against the immediately preceding quarterly filing for the same fund. Share-count changes reflect reported trading activity, while portfolio weights can also move because of market price changes. Portfolio weights are normalized to exclude listed options for comparability. A complete description — including how confidential treatment filings are handled — is documented in the Methodology.
What stocks did SPRUCE HOUSE INVESTMENT MANAGEMENT LLC buy in Q1 2026?
In Q1 2026, SPRUCE HOUSE INVESTMENT MANAGEMENT LLC initiated 1 new position (SPORTRADAR GROUP AG (SRAD)); bought more shares of DRAFTKINGS INC NEW (DKNG), COLLIERS INTL GROUP INC (CIGI), CORPAY INC (CPAY), CARVANA CO (CVNA).
What stocks did SPRUCE HOUSE INVESTMENT MANAGEMENT LLC sell in Q1 2026?
In Q1 2026, SPRUCE HOUSE INVESTMENT MANAGEMENT LLC reduced holdings in CIMPRESS PLC (CMPR), WAYFAIR INC (W), APPLOVIN CORP (APP).
Which positions did SPRUCE HOUSE INVESTMENT MANAGEMENT LLC initiate in Q1 2026?
SPRUCE HOUSE INVESTMENT MANAGEMENT LLC established 1 new position in Q1 2026: SPORTRADAR GROUP AG (SRAD, 1.6%).
Which existing positions saw the largest allocation increases for SPRUCE HOUSE INVESTMENT MANAGEMENT LLC in Q1 2026?
Of 4 existing positions with share-count increases in Q1 2026, the largest were: DRAFTKINGS INC NEW (DKNG, +3.2% weight, +129.6% shares), COLLIERS INTL GROUP INC (CIGI, +4.0% weight, +93.0% shares), CORPAY INC (CPAY, +1.9% weight, +6.0% shares), CARVANA CO (CVNA, +-1.6% weight, +2.6% shares).
Which positions did SPRUCE HOUSE INVESTMENT MANAGEMENT LLC fully exit in Q1 2026?
SPRUCE HOUSE INVESTMENT MANAGEMENT LLC fully exited no positions in Q1 2026.
Which existing positions saw the largest allocation reductions for SPRUCE HOUSE INVESTMENT MANAGEMENT LLC in Q1 2026?
Of 3 existing positions with share-count reductions in Q1 2026, the largest were: CIMPRESS PLC (CMPR, 0.4% weight, -16.6% shares), WAYFAIR INC (W, -1.5% weight, -11.1% shares), APPLOVIN CORP (APP, -9.7% weight, -0.5% shares).
Do quarter-over-quarter 13F allocation changes constitute explicit trading signals?
No. Quarter-over-quarter changes reflect a combination of active trading and market price movement. A weight increase can result from price appreciation alone, without the manager adding shares. Share-count delta is the cleaner indicator of explicit trading activity. All deltas on this page are sourced from sequential SEC Form 13F-HR filings.