Spruce House Investment Management 13F annual report

Spruce House Investment Management is an investment fund managing more than $1.52 trillion ran by Keith Cozza. There are currently 10 companies in Mr. Cozza’s portfolio. The largest investments include Carvana Co and Applovin Corp, together worth $943 billion.

$1.52 trillion Assets Under Management (AUM)

As of 7th August 2024, Spruce House Investment Management’s top holding is 5,000,000 shares of Carvana Co currently worth over $644 billion and making up 42.4% of the portfolio value. Relative to the number of outstanding shares of Carvana Co, Spruce House Investment Management owns more than approximately 0.1% of the company. In addition, the fund holds 3,600,000 shares of Applovin Corp worth $300 billion. The third-largest holding is Cimpress plc worth $180 billion and the next is Colliers Intl Group Inc worth $145 billion, with 1,301,132 shares owned.

Currently, Spruce House Investment Management's portfolio is worth at least $1.52 trillion. The total portfolio value may be much higher due to cash assets that are not publicly disclosed such as fixed income, real estate, or cash equivalents.

Careers at Spruce House Investment Management

The Spruce House Investment Management office and employees reside in New York, New York. According to the last 13-F report filed with the SEC, Keith Cozza serves as the Chief Compliance Officer at Spruce House Investment Management.

Recent trades

In the most recent 13F filing, Spruce House Investment Management revealed that it had increased its stake in Gxo Logistics Incorporated and bought 803,000 additional shares worth around .

On the other hand, there are companies that Spruce House Investment Management is getting rid of from its portfolio. Spruce House Investment Management closed its position in Lithia Mtrs Inc on 14th August 2024. It sold the previously owned 17,500 shares for $5.27 billion. Keith Cozza also disclosed a decreased stake in Applovin Corp by 0.3%. This leaves the value of the investment at $300 billion and 3,600,000 shares.

One of the largest hedge funds

The two most similar investment funds to Spruce House Investment Management are Roffman Miller Associates Inc pa/ and Wolf Hill Capital Management, L.P.. They manage $1.52 trillion and $1.52 trillion respectively.

Keith Cozza investment strategy

Spruce House Investment Management’s portfolio is diversified across 5 sectors. Currently, their heaviest sector is Consumer Discretionary — making up 52.1% of the total portfolio value. The fund focuses on investments in the United States as 60.0% of the portfolio companies are based in the United States.

The majority of the companies in the fund’s portfolio are large-cap stocks. Stocks with a size of more than $10 billion in market cap make up 10% of the total holdings value. On the other hand, small-cap stocks make up only approximately 0.1% of the portfolio. The average market cap of the portfolio companies is close to $5.56 billion.

The complete list of Spruce House Investment Management trades based on 13F SEC filings

These positions were updated on August 14th based on the fund’s latest 13F filing. Quickly find out what the most recently closed or increased positions are.

Security	Shares Owned	Value	Allocation
Carvana Co.	No change 5,000,000	$643,600,000,000	42.38%
Applovin Corp	28.00% 3,600,000	$299,592,000,000	19.73%
Cimpress plc	No change 2,058,904	$180,380,579,000	11.88%
Colliers Intl Group Inc	No change 1,301,132	$145,318,519,000	9.57%
Wayfair Inc	No change 2,637,000	$139,049,010,000	9.16%
Gxo Logistics Incorporated	827.84% 900,000	$45,450,000,000	2.99%
DoorDash Inc	No change 300,000	$32,634,000,000	2.15%
Core & Main, Inc.	No change 300,000	$14,682,000,000	0.97%
Beacon Roofing Supply Inc	No change 103,000	$9,321,500,000	0.61%
Group 1 Automotive, Inc.	51.28% 29,500	$8,769,760,000	0.58%
Lithia Mtrs Inc	Closed 17,500	$5,265,050,000
No transactions found
Showing first 500 out of 11 holdings