Spruce Point Capital Management

A New York-based investment management firm focused on short-selling, value and special situation investment opportunities.

About Us

Founded in 2009 by Ben Axler, Spruce Point Capital Management conducts in-depth fundamental research focused on forensic accounting analysis and takes an activist approach to investing.

14+

Years exposing corporate and Wall Street greed

Read More

100+

Companies exposed through Spruce Point’s research reports

Read More

50+

CEOs and CFOs have resigned or been replaced following Spruce Point’s reports

Read More
RESEARCH

Our Featured Research

Spruce Point regularly releases new forensic short reports on companies across a diverse range of industries, market capitalizations and geographies.

iRhythm Technologies, Inc.
Aug 18, 2025

iRhythm Technologies, Inc.

NASDAQ:
IRTC
INDEX:
S&P 500
Sector:
Healthcare
Position:
Short
View Report
Limbach Holdings, Inc.
Jul 22, 2025

Limbach Holdings, Inc.

NASDAQ:
LMB
INDEX:
S&P 500
Sector:
Industrials
Position:
Short
View Report
Tempus AI, Inc.
May 28, 2025

Tempus AI, Inc.

NASDAQ:
TEM
INDEX:
S&P 500
Sector:
Technology
Position:
Short
View Report
Clear Secure, Inc.
Apr 30, 2025

Clear Secure, Inc.

NYSE:
YOU
INDEX:
S&P 500
Sector:
Technology
Position:
Short
View Report
Newsroom

Featured News

Ben Axler: Market Being More Discerning
Aug 26, 2025

Ben Axler: Market Being More Discerning

Bloomberg

Ben Axler, Spruce Point Capital Management, joins Bloomberg’s ‘The Close’ to discuss how his firm separates substance from hype when evaluating AI companies in today’s market.

Read More
Here Are the Manager Finalists for the 2023 Hedge Fund Industry Awards
Mar 13, 2023

Here Are the Manager Finalists for the 2023 Hedge Fund Industry Awards

Institutional Investor

There were plenty of losers in 2022, as stocks plummeted and bond markets broke down in the face of rising interest rates.

Read More
This Top Short-Seller Still Sees Huge Opportunities Despite The Market
Nov 9, 2022

This Top Short-Seller Still Sees Huge Opportunities Despite The Market

Forbes

The industrial sector rallied almost 14% in October, but short-sellers quickly increased their bets against the sector as prices rose. According to S&P Global Market Intelligence, investors boosted short interest in the sector to 3.08%. However, one well-known short-seller prefers consumer discretionary stocks over industrial names.

Read More
Spruce Point Gains in a Big Year for Short Sellers
Jan 24, 2022

Spruce Point Gains in a Big Year for Short Sellers

Institutional Investor

Activist short seller Spruce Point Capital Management bested the market downturn last year with a gain of 7.4 percent, according to a yearend letter to investors that Institutional Investor has received.

Read More
Join The Mailing List

Spruce Point Alerts & Updates

See the other side of the Wall Street hype machine.