Spruce House Investment Management LLC · Q2 2026 13F · SEC CIK 1543170
Zach Sternberg and Ben Stein portfolio
Hedge fundSpruce House Investment Management 13F holdings. Filed 2026-08-14 for Q2 2026. Open the filing ↗ · All SEC filings ↗
- Reported 13F value
- $3.4B
- Reported positions
- 11
- Top holdings a year, 3 yrs
- +78.4%
- Assets under management
- $5.2B
Zach Sternberg and Ben Stein is the founder of Spruce House Investment Management, which reported 11 positions worth $3.4B in its Q2 2026 13F, filed 2026-08-14. Its largest holdings were Applovin Corp (APP, 27.1%), Carvana Co (CVNA, 22.6%), Corpay Inc (CPAY, 8.6%). A portfolio copying its top holdings returned 78.4% a year over the last 3 years, against 22.3% for the S&P 500.
Zach Sternberg and Ben Stein holdings all 11 positions.
Weights are shares of the filer's total reported 13F value, compared with Q1 2026. Share changes may reflect splits; weight changes also reflect price moves. A 13F shows long US-listed positions only, up to 135 days after the fact.
| Stock | % of 13F value | Share change | Reported value |
|---|---|---|---|
| APPApplovin Corp | 27.1% | +0.0% | $922.3M |
| CVNACarvana Co | 22.6% | +400.0% | $768.4M |
| CPAYCorpay Inc | 8.6% | +0.0% | $293.3M |
| WWayfair Inc | 7.9% | +11.9% | $268.9M |
| GXOGxo Logistics Incorporated | 7.8% | +61.5% | $266.2M |
| CIGIColliers Intl Group Inc. | 7.6% | +9.3% | $257.4M |
| DKNGDraftkings Inc | 7.2% | +0.0% | $243.8M |
| SRADSportradar Group AG | 4.0% | +232.9% | $137.1M |
| CMPRCimpress PLC | 3.7% | +0.0% | $124.3M |
| CNMCore & Main Inc | 3.1% | +0.0% | $103.7M |
| QXOQxo Inc | 0.4% | +0.0% | $14.0M |
What Zach Sternberg and Ben Stein bought and sold in Q2 2026, against Q1 2026.
New positions
No new positions among the largest holdings.
Added to
- CVNA Carvana Co+400.0% shares
- SRAD Sportradar Group AG+232.9% shares
- GXO Gxo Logistics Incorporated+61.5% shares
- W Wayfair Inc+11.9% shares
- CIGI Colliers Intl Group Inc.+9.3% shares
Reduced
No position shrank by more than 5%.
Sold out
Nothing sold out.
Share counts compared with the Q1 2026 13F; a split also changes share counts.
How the holdings did against the S&P 500.
- 1 year
- -15.9% /yr
- S&P 500 +11.7%
- 3 years
- +78.4% /yr
- S&P 500 +22.3%
- 5 years
- +11.5% /yr
- S&P 500 +10.6%
A portfolio of the filer's 20 largest 13F positions, weighted by value, bought the trading day after each 13F was filed and held until the next one was: what copying this filer could have earned. 13Fs show long US-listed positions only, so this is an estimate of the stock picks, not the fund's reported returns.
Reported 13F value by quarter.
| Quarter | 13F value | Positions |
|---|---|---|
| Q2 2026 | $3.4B | 11 |
| Q1 2026 | $2.8B | 11 |
| Q4 2025 | $3.4B | 10 |
| Q3 2025 | $3.9B | 10 |
| Q2 2025 | $2.7B | 9 |
| Q1 2025 | $1.9B | 9 |
| Q4 2024 | $2.7B | 11 |
| Q3 2024 | $2.0B | 10 |
| Q2 2024 | $1.5B | 10 |
| Q1 2024 | $1.4B | 11 |
| Q4 2023 | $1.3B | 6 |
| Q3 2023 | $1.1B | 6 |
Questions about Zach Sternberg and Ben Stein's portfolio
Who is Zach Sternberg and Ben Stein?
Zach Sternberg and Ben Stein is the founder of Spruce House Investment Management, a hedge fund that files its US stock holdings with the SEC on Form 13F under the name Spruce House Investment Management LLC.
What stocks does Zach Sternberg and Ben Stein own?
Spruce House Investment Management LLC's latest 13F, for Q2 2026 and filed Aug 14, 2026, lists 11 positions worth $3.4B. The largest are Applovin Corp (APP) at 27.1%, Carvana Co (CVNA) at 22.6%, Corpay Inc (CPAY) at 8.6%, Wayfair Inc (W) at 7.9% and Gxo Logistics Incorporated (GXO) at 7.8%.
What did Zach Sternberg and Ben Stein buy last quarter?
In Q2 2026, Spruce House Investment Management LLC added Carvana Co (CVNA) (+400.0% shares), Sportradar Group AG (SRAD) (+232.9% shares) and Gxo Logistics Incorporated (GXO) (+61.5% shares), compared with its Q1 2026 filing.
What did Zach Sternberg and Ben Stein sell last quarter?
Spruce House Investment Management LLC sold out of nothing and cut no large position by more than 5% in Q2 2026.
How has Zach Sternberg and Ben Stein's portfolio performed?
A portfolio copying Spruce House Investment Management LLC's 20 largest 13F holdings each quarter, from the day each filing was public, returned +78.4% a year over the last 3 years, against +22.3% for the S&P 500. Over 1 year: -15.9% against +11.7%. Over 5 years: +11.5% a year against +10.6%.
When is Spruce House Investment Management LLC's next 13F filing due?
13F filings are due 45 days after each quarter ends. Spruce House Investment Management LLC's filing for the quarter ending Sep 30, 2026 is due by Nov 14, 2026; this page updates the day after it is published.
How much money does Spruce House Investment Management LLC manage?
Spruce House Investment Management LLC reported $5.2B of regulatory assets under management on its latest SEC Form ADV. Its 13F, which covers only US-listed stocks and options, totals $3.4B.
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