Hedge Fund - Spruce House Investment Management

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

Established in September 2006, Spruce House Investment Management is a New York-based hedge fund managed by co-founders Zachary Sternberg and Benjamin Stein. The firm's primary objective is long-term capital appreciation, achieved through the purchase and long-term ownership of common stock.

Benjamin Stein, co-founder of The Spruce House Partnership, focuses on global investments in public companies, aligning with management teams committed to long-term value growth. He earned a Bachelor of Arts in International Relations from the University of Pennsylvania in 2008 and serves on the board of The Africa Center, a New York-based institution focused on African business, culture, and policy.

Zachary Sternberg, also a co-founder and Managing Member of The Spruce House Partnership, specializes in global investments in both public and private companies. Spruce House has maintained a 9.0% stake in Cimpress and has been a shareholder since 2011, exemplifying its strategy of collaborating with management teams dedicated to long-term per-share value growth.

As of March 2024, Spruce House Investment Management manages discretionary assets totaling $2,277,183,030 for three clients. Their last reported 13F filing for Q1 2024 listed $1,390,747,781 in managed 13F securities, with a top 10 holdings concentration of 99.63%. The firm's largest holding is Carvana Co, with 5,000,000 shares.

Benjamin Stein And Zachary Sternberg
Fund Profile
Filing Period:
Fund Name: Spruce House Investment Management
Manager Benjamin Stein And Zachary Sternberg
Portfolio Value $1,390,747,781
Change This QTR +1.09%
Filing Period:
Last update:
No. Security Ticker Shares Value Activity % Port History
1. CVNA 5,000,000 $439,550,000 -48% 31.6%
2. APP 5,000,000 $346,100,000 24.88%
3. CMPR 2,058,904 $182,233,593 -13% 13.1%
4. W 2,637,000 $178,999,560 -28% 12.87%
5. CIGI 1,301,132 $159,099,313 +31% 11.43%
News, Interviews and Investor Letters