An Analysis of XPO Logistics: Is it a Buy?
XPO Logistics (NYSE:XPO) shares are down around 50% due to some headwinds. XPO has been a rollup, buying logistics companies and integrating them to capture the benefits of scale and efficiency.
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.
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