SPRUCE HOUSE INVESTMENT MANAGEMENT LLC

CIK 1543170 · last filed 2019-11-18

SPRUCE HOUSE INVESTMENT MANAGEMENT LLC is a corporate insider who has filed 10 SEC Form 4 insider transactions across 4 companies since 2016. The most recent filing shows the insider sold $274.6M of XPO on Nov 18, 2019. Across all open-market trades the lifetime net is +$176.0M, making them a net buyer over the disclosed history. Current disclosed insider exposure totals $3.31B across reported positions.

"Disclosed insider exposure" sums this person's most-recently-reported share counts across each company they're an insider in, multiplied by the current underlying price. It is not net worth — it misses retail holdings, private investments, real estate, index funds, and any company where the person isn't an SEC-reporting insider. For informational purposes only.

Disclosed Exposure

$3.31B

Companies

4

Total Filings

10

Lifetime Open-Market Net

$176.01M

Holdings By Company

Latest on-record share count from this person's most recent non-derivative Form 4 transaction in each company. Disclosed exposure = shares × current underlying price.

Symbol	Role	Shares	Price	Disclosed Exposure	Lifetime OM Net	Filings	Latest Filed
XPO	10%+ Owner	12,000,000	$199.50	$2.39B	-$379.95M	2	2019-11-18
GTT Communications, Inc. (GTT) Delisted	10%+ Owner	11,897,403	$2.36	$28.08M	$371.31M	3	2019-01-25
CVNA	10%+ Owner	5,600,000	$66.56	$372.74M	$121.46M	2	2019-01-07
CIGI	10%+ Owner	5,925,271	$91.31	$541.04M	$63.19M	3	2017-02-13

Recent Filings

10 filings

Insider activity across all companies, newest first. Form 4 rows are post-trade confirmations (buys, sells, grants, exercises). Notice (144) rows are pre-trade notices of intent to sell restricted or control stock under Rule 144 — they may not all execute. Compare adjacent dates to see which notices became actual sales.

Filed	Symbol	Action	Net Shares	Net $	Link
2019-11-18	XPO	Sell (S)	−3,264,500	-$274.62M	EDGAR
2019-11-14	XPO	Sell (S)	−1,235,500	-$105.33M	EDGAR
2019-01-25	GTT Communications, Inc. (GTT) Delisted	Buy (P)	+5,460,000	$136.27M	EDGAR
2019-01-07	CVNA	Buy (P)	+500,000	$14.85M	EDGAR
2018-12-19	CVNA	Buy (P)	+3,150,000	$106.61M	EDGAR
2018-10-26	GTT Communications, Inc. (GTT) Delisted	Buy (P)	+2,620,500	$87.92M	EDGAR
2018-09-10	GTT Communications, Inc. (GTT) Delisted	Buy (P)	+3,512,655	$147.12M	EDGAR
2017-02-13	CIGI	Buy (P)	+263,615	$10.09M	EDGAR
2016-10-05	CIGI	Buy (P)	+669,000	$28.13M	EDGAR
2016-09-19	CIGI	Buy (P)	+600,000	$24.97M	EDGAR

Form 4 codes: P = open-market purchase · S = open-market sale · A = grant/award · M = option exercise · F = tax withholding at vest · G = bona-fide gift · D = disposition to issuer · J = other (see filing footnote). Only P / S codes carry directional signal.
Notice (144 / 144/A): Form 144 is a notice of intent to sell restricted/control stock under Rule 144, filed before the sale; 144/A is an amendment. Many notices are pre-scheduled under Rule 10b5-1 plans. A Form 4 with code S typically follows within a few days when the planned sale executes; missing follow-up Form 4s suggest the notice was cancelled or modified.