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

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100+

Companies exposed through Spruce Point’s research reports

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50+

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

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RESEARCH

Our Featured Research

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

Boot Barn Holdings Inc.
May 8, 2024

Boot Barn Holdings Inc.

NYSE:
BOOT
INDEX:
S&P 500
Sector:
Consumer Discretionary
Position:
Short
View Report
PowerSchool Holdings, Inc
Apr 17, 2024

PowerSchool Holdings, Inc

NYSE:
PWSC
INDEX:
S&P 500
Sector:
Technology
Position:
Short
View Report
WSP Global
Apr 3, 2024

WSP Global

TSX:
WSP
INDEX:
S&P 500
Sector:
Industrials
Position:
Short
View Report
Enfusion Inc.
Mar 14, 2024

Enfusion Inc.

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

Featured News & Press

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

SOURCE:
Institutional Investor

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

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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

SOURCE:
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.

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

Spruce Point Gains in a Big Year for Short Sellers

SOURCE:
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.

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Short Activist Spruce Point Soars in Turbulent Year for Short Sellers
Jan 10, 2022

Short Activist Spruce Point Soars in Turbulent Year for Short Sellers

SOURCE:
Institutional Investor

Despite all the public outcry against short sellers, a number of them survived 2021 just fine. A case in point is Ben Axler’s Spruce Point Capital, whose flagship hedge funds gained 21.4 percent on a net basis, according to a letter to investors.

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See the other side of the Wall Street hype machine.