Hedge Fund - Spruce House Investment Management

Benjamin Stein And Zachary Sternberg Bio, Returns, AUM, Net Worth

Spruce House Investment Management LLC, headquartered in New York, operates as a substantial advisory firm overseeing $2.46 billion in regulatory assets across 2 client accounts. Since its inception in 2014, the firm has been registered with the SEC as an adviser, experiencing a remarkable 851% growth in assets under management (AUM).

Benjamin Stein is one of the co-founders of The Spruce House Partnership, an investment partnership located in New York. Established in 2005, Spruce House engages in global investments in public companies and aims to align its investments with management teams dedicated to long-term value growth. Mr. Stein earned his Bachelor of Arts in International Relations from the University of Pennsylvania in 2008 and currently holds a position on the board of The Africa Center, a New York-based institution with a focus on African business, culture, and policy.

Additionally, Zachary Sternberg serves as the co-founder and Managing Member of the General Partner of The Spruce House Partnership, an investment partnership based in New York. The firm specializes in global investments in both public and private companies, aiming to collaborate with management teams committed to long-term per-share value growth. Notably, Spruce House has maintained a 9.0% stake in Cimpress and has been a shareholder in the company since 2011.

Spruce House Investment Management oversees discretionary assets under management (AUM) totaling $1.32 billion. As per their latest 13F filing for Q3 2023, they managed $1.12 billion in 13F securities, with a top 10 holdings concentration reaching 100%. Moreover, the firm has a diversified portfolio spanning 3 sectors. Currently, the Consumer Discretionary sector holds the highest weight, constituting 42.1% of the overall portfolio value. The fund primarily targets investments in the United States, with 25.0% of its portfolio companies based in the country. The majority of the companies in the fund's portfolio are large-cap stocks, with those exceeding a $10 billion market cap accounting for around 0.1% of the total holdings value. Conversely, small-cap stocks make up approximately 0.1% of the portfolio. The average market cap of the portfolio companies is approximately $4.36 billion.

Benjamin Stein And Zachary Sternberg
Fund Profile
Filing Period:
Fund Name: Spruce House Investment Management
Manager Benjamin Stein And Zachary Sternberg
Portfolio Value $1,272,044,225
Change This QTR +1.13%
Fund Holdings Sector Distribution
Filing Period:
Last update:
No. Security Ticker Shares Value Activity % Port History
1. CVNA 9,490,000 $502,400,600 -6% 39.49%
2. W 3,650,000 $225,205,000 17.7%
3. APP 5,000,000 $199,250,000 15.66%
4. CMPR 2,358,904 $188,830,265 14.84%
5. CIGI 1,000,000 $126,691,360 9.95%
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