SPRUCE HOUSE INVESTMENT MANAGEMENT LLC is an institutional investment manager that files quarterly 13F reports with the SEC. As of Q4 2025, the fund manages $3.4B in reported equity holdings across 10 positions. The largest holdings are APP (35.2%), CVNA (27.8%), W (8.5%), CPAY (7.2%), CIGI (5.5%). The portfolio is concentrated in Other (61.6%), Communication Services (35.2%), Industrials (3.2%). Data sourced from SEC EDGAR 13F filings (CIK 1543170).