# Spruce Point Capital Management, LLC

> Spruce Point Capital Management, LLC is an SEC-registered investment advisory firm in Riverhead, NY, registered since 2019, reporting $100 million to $500 million in regulatory assets under management in its Form ADV filing dated March 19, 2026.

- CRD: 288248
- Filed as: SPRUCE POINT CAPITAL MANAGEMENT, LLC
- Registration: SEC-registered investment adviser (status as filed: Approved)
- Location: Riverhead, NY
- Filing period: October 2026
- Form ADV filing dated: March 19, 2026
- SEC record (IAPD): https://adviserinfo.sec.gov/firm/summary/288248
- AdvisorCensus page: https://advisorcensus.com/firm/spruce-point-capital-management-llc-riverhead-ny-288248

## Quick answers

**How is Spruce Point Capital Management, LLC compensated?**
On its Form ADV (Item 5.E, October 2026), Spruce Point Capital Management, LLC reports these compensation arrangements: a percentage of assets under its management; performance-based fees; other.

**How much does Spruce Point Capital Management, LLC charge?**
Its Form ADV Part 2A brochure dated March 19, 2026 states: Asset-based fee: 0.95% to 2.5% a year (a range, as the brochure states it). Fees can differ by service and may be negotiable; the brochure is the complete statement.

**Where is Spruce Point Capital Management, LLC located?**
Spruce Point Capital Management, LLC's principal office is in Riverhead, NY, according to its Form ADV.

**Is Spruce Point Capital Management, LLC registered with the SEC or a state?**
Spruce Point Capital Management, LLC is an SEC-registered investment advisory firm, registered since 2019. Status as filed: Approved. CRD 288248.

**How much does Spruce Point Capital Management, LLC manage?**
Spruce Point Capital Management, LLC reports $262,179,127 in regulatory assets under management in its Form ADV filing dated March 19, 2026 (100% discretionary).

**How have Spruce Point Capital Management, LLC's assets and staff changed since 2021?**
In the Form ADV data for Spruce Point Capital Management, LLC: Regulatory assets under management: $204,977,456 in the October 2021 data and $262,179,127 in the October 2026 data, up 28%. Total employees: 4 in October 2021 and 3 in October 2026. Assets under management move with markets as well as with clients coming and going.

**What types of clients does Spruce Point Capital Management, LLC serve?**
By number of clients on Form ADV Item 5.D: pooled investment vehicles (other than investment companies and business development companies) (2).

**Does Spruce Point Capital Management, LLC report any disciplinary disclosures?**
Reports no disclosure items on Form ADV Item 11. The detail of any item is on the firm's SEC record: https://adviserinfo.sec.gov/firm/summary/288248

**What changed in Spruce Point Capital Management, LLC's recent Form ADV filings?**
In the April 2026 filing data: Regulatory assets under management went from $314,614,827 to $262,179,127 (-17%).

## From the Form ADV filing

### Compensation (Item 5.E)
- A percentage of assets under your management
- Performance-based fees
- Other

### Fees and minimums (Form ADV Part 2A brochure dated March 19, 2026)

- Asset-based fee: 0.95% to 2.5% a year (a range, as the brochure states it)

> Depending on the Series of Interest of the relevant Fund, the Management Fee ranges from .95%-2.5% per annum.

As stated in the firm's brochure. Fees can differ by service and may be negotiable.

### Regulatory assets under management (Item 5.F)
- Total: $262,179,127
- Discretionary: $262,179,127
- Non-discretionary: $0

### Clients (Item 5.D)

| Client type | Clients | Assets |
| --- | --- | --- |
| Pooled investment vehicles (other than investment companies and business development companies) | 2 | $262,179,127 |

### Advisory services (Item 5.G)
- Portfolio management for pooled investment vehicles (other than investment companies)

### Firm details
- Registered since: 2019 (7 years)
- Employees: 3 total, 2 performing advisory functions
- Wrap fee program participation: No
- States registered or notice-filed: NY
- Disclosures (Item 11): Reports no disclosure items on Form ADV Item 11.

### Websites listed on Form ADV (Item 1.I)
- hvst.com/organization/spruce-point-capital-management
- reddit.com/user/sprucepointcap
- seekingalpha.com/author/ben-axler
- sprucepointcap.com
- sumzero.com
- Instagram @sprucepointcap
- LinkedIn @ben-axler-a609b06
- X @sprucepointcap
- YouTube @UC9iY3qKASUkFnAhk9J11CdA

## Assets and staff over time

| Data period | Regulatory assets under management | Employees | Filing dated |
| --- | --- | --- | --- |
| October 2021 | $204,977,456 | 4 | April 29, 2021 |
| October 2022 | $214,336,339 | 2 | March 3, 2022 |
| October 2023 | $273,635,643 | 3 | March 14, 2023 |
| October 2024 | $334,548,566 | 3 | February 28, 2024 |
| October 2025 | $314,614,827 | 3 | March 12, 2025 |
| October 2026 | $262,179,127 | 3 | March 19, 2026 |

Regulatory assets under management: $204,977,456 in the October 2021 data and $262,179,127 in the October 2026 data, up 28%.
Total employees: 4 in October 2021 and 3 in October 2026.

## Changes in the filing (last 12 months)

### April 2026
- Regulatory assets under management went from $314,614,827 to $262,179,127 (-17%).

## Source

Form ADV as filed, October 2026. Values appear as filed. Cite as: AdvisorCensus. Spruce Point Capital Management, LLC (CRD 288248): Form ADV filing data as of October 2026.