SPRUCE HOUSE INVESTMENT MANAGEMENT LLC Q4 2025 Filing

Filed February 17, 2026

Portfolio Value

$3.4B

Holdings

10

Report Date

Q4 2025

Filing Type

13F-HR

All Holdings (10 positions)

#	Stock	Shares	Value	% Portfolio	Type
1	APPAPPLOVIN CORP	1,799,729	$1.2B	35.17%
2	CVNACARVANA CO	2,275,000	$960.1M	27.84%
3	WWAYFAIR INC	2,923,845	$293.6M	8.51%
4	CPAYCORPAY INC	830,000	$249.8M	7.24%
5	CIGICOLLIERS INTL GROUP INC	1,301,133	$191.3M	5.55%
6	GXOGXO LOGISTICS INCORPORATED	3,250,000	$171.1M	4.96%
7	DKNGDRAFTKINGS INC NEW	4,203,834	$144.9M	4.20%
8	CNMCORE & MAIN INC	2,150,000	$111.7M	3.24%
9	CMPRCIMPRESS PLC	1,465,366	$97.6M	2.83%
10	QXOQXO INC	813,009	$15.7M	0.45%