SHP LTD
SHP LTD is a hedge fund based in Grand Cayman, Cayman Islands. According to its most recent Form D, filed Dec 12, 2025, the fund has sold $851,697,660 of interests to 11 investors since its first sale in Sep 2025. The minimum investment it accepts from an outside investor is $100,000. It relies on the Section 3(c)(1) exclusion, which limits it to 100 beneficial owners, typically accredited investors. The offering uses Rule 506(b), which does not permit general solicitation. Related persons named in the filing include Spruce House Investment Management LLC; Zachary Sternberg; Benjamin Stein.
Performance
No verified returns have been reported for this fund. As a rough guide, Spruce House Investment Management LLC, which manages it, disclosed U.S. stock holdings that returned an estimated -17.8% 2026 YTD through Jun 30 (S&P 500: +9.5%), based only on its public 13F filings. Over a longer period, Q3 2024 to Q2 2026, the estimate is +169.4% (S&P 500: +37.2%).
This estimate covers the firm's whole disclosed long U.S. stock portfolio. It is not this fund's return and excludes dividends, fees, shorts, derivatives, bonds, cash and trading within each quarter.
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- Total raised
- $851,697,660Cumulative sales reported on Form D
- Investors
- 11
- First sale
- Sep 14, 2025
- Minimum investment
- $100,000
- Who can invest
- Accredited investorsSection 3(c)(1): up to 100 beneficial owners
- Offering exemption
- Rule 506(b)No general advertising
- Key people and entities
- Spruce House Investment Management LLC; Zachary Sternberg; Benjamin Stein
- Latest Form D
- Dec 12, 2025
From SEC filings, not verified. This page republishes the fund's Form D as filed. It is not an offer, solicitation or recommendation, and AltMountain has not reviewed the fund. “Raised” is cumulative sales, not current assets or performance. Private funds are speculative, illiquid and generally limited to accredited investors or qualified purchasers. Full disclosures · Request a correction
Questions about SHP LTD
What is the minimum investment for SHP LTD?
According to its latest Form D, filed Dec 12, 2025, the minimum investment SHP LTD accepts from an outside investor is $100,000.
Who can invest in SHP LTD?
SHP LTD is generally open only to accredited investors, and it may have no more than 100 beneficial owners because it relies on Section 3(c)(1). It uses Rule 506(b), which does not allow general advertising.
How much has SHP LTD raised?
SHP LTD reports $851,697,660 sold from 11 investors on its Form D filed Dec 12, 2025. This is cumulative sales since the offering began, not current assets or performance.
Where is SHP LTD based?
SHP LTD is based in Grand Cayman, Cayman Islands and is managed by Spruce House Investment Management LLC.
When did SHP LTD launch?
SHP LTD reports its first sale in Sep 2025.
Size compared with every hedge fund
Raised more than 84% of the 2,363 hedge funds based in Cayman Islands, and more than 88% of all 10,308 that report sales.