Spruce Street Capital LP

Registered adviser

CIK

2050194

Location

NEW YORK, NY

Portfolio Value

Small $509,683,850

Diversification

Diversified

Filing Date

Global Rank

#3,794 / 8,818 ▲ 157

Top Industry

Biotechnology 78.0%

3Y Alpha vs SPY

+9.9%

Period ended 4 months ago

Filed Aug 13, 2026 · 3mo

3 quarters · since Dec 2025

Regulatory profile

From Form ADV, the SEC filer profile, 13D/13G type codes and N-CEN, never from the name.

Holder type

Registered adviser

Form ADV roster, Oct 1, 2026

Form ADV adviser

CRD 333213

Roster of Oct 1, 2026

Regulatory AUM

$555,900,000

Main clients

Pooled investment vehicles (100% of AUM)

Private funds

3 funds · Hedge funds

Focus by fund count, roster of Oct 1, 2026

$900,900,000 gross assets

LEI

2549001ICA4Q5ZPPGF12

Form ADV history

Monthly rosters from Dec 2019; each row is a run with the same figures, newest first.

Rosters	Regulatory AUM	Main clients
Apr 2026 to Oct 2026	$555,900,000	Pooled investment vehicles (100%)
May 2025 to Mar 2026	$293,000,000	Pooled investment vehicles (100%)
Nov 2024 to Mar 2025	—	—

Portfolio style

Measured from the filed 13F common-share book for Jun 30, 2026, never from the firm's own description.

Style

Concentrated

The top 10 positions are 70.2% of the book (60%+)

Turnover

Turnover unknown

It needs four straight quarters of measured turnover

Horizon

Short horizon

Value-weighted holding period 2.7 quarters (under 4)

Closest benchmark: the Russell 2000 as of 2026-06-30, active share 98.7%; sector active share 88.5% against the combined 13F book's sector weights.

Over time 3 measured quarters

How the bands are measured

Style bands measure the filed 13F common-share book each closed quarter, tested in this order. Unknown: under $10,000,000 of valued equity or 5 stocks. Index-like (100+ stocks): active share of 20% or less against the closest benchmark, which is the S&P 500, S&P MidCap 400, S&P SmallCap 600, Russell 1000, Russell 2000, Nasdaq-100 or Dow Jones Industrial Average (weighted by an index-tracking fund's reported holdings or the index's constituents nearest the quarter end, over the names resolved to companies, and only when those are 90%+ of its weight) or every 13F filer's combined book, or index series holding 80%+ of the registered fund assets it advises (N-CEN) and equal to 50%+ of its book. Systematic-like: 500+ stocks, 100%+ annual turnover and a top 10 weight of 25% or less. Concentrated: a top 10 weight of 60%+ or 12 or fewer effective positions. Diversified active: none of these. Turnover is the smaller of buys and sells over average equity value, summed over four quarters: low under 30%, high 100%+. Horizon is the value-weighted number of quarters each position has been held: short under 4, long 12+.

Clone Performance

Build a hypothetical price-return history from this filer's public 13F holdings.

View clone backtest

Portfolio Concentration

30 tracked positions · as of Jun 30, 2026 · Δ vs Mar 31, 2026

Top Position

11.5%

+1.1 pts

Top 5

46.9%

+5.0 pts

Top 10

70.2%

+4.4 pts

HHI

626

Diversified+71

Portfolio Trend

3 quarters · across all stocks

Sector Breakdown

As of Jun 30, 2026

Sector	% Portfolio	Value	Positions
Healthcare	97.5%	$497,196,250	27
Financial Services	2.5%	$12,487,600	3

Last Quarter's Activity

Export CSV

Jun 30, 2026 vs Mar 31, 2026

Added To

Positions the filer increased

8 positions

Ticker	Company	Δ Shares	Shares	Value
CATX	Perspective Therapeutics, Inc.	+1,066,824	3,693,931	$12,596,304
ALKS	Alkermes plc.	+225,884	543,876	$28,499,102
KNSA	Kiniksa Pharmaceuticals International, plc	+157,007	918,070	$58,710,576
ENTA	Enanta Pharmaceuticals Inc	+156,133	1,088,731	$15,873,697
RLMD	Relmada Therapeutics, Inc.	+129,214	6,391,328	$44,227,989
SVRA	Savara Inc	+69,401	3,452,576	$21,267,868
PCVX	Vaxcyte, Inc.	+60,338	306,047	$17,790,512
ANRO	Alto Neuroscience, Inc.	+27,837	1,353,047	$35,706,910
No positions match the current search.

Trimmed

Positions the filer reduced

1 positions

Ticker	Company	Δ Shares	Shares	Value	Open
DNTH	Dianthus Therapeutics, Inc.	−18,458	354,816	$34,587,463
No positions match the current search.

New Positions

Positions the filer opened this quarter

5 positions

Ticker	Company	Shares	Value
IFRX	InflaRx N.V.	5,352,198	$11,988,923
RACC	Research Alliance Corp III	500,000	$5,350,000
ZLAB	Zai Lab Ltd	279,110	$5,303,090
ACHV	Achieve Life Sciences, Inc.	736,637	$4,810,239
JATT	JATT II Acquisition Corp.	160,000	$1,817,600
No positions match the current search.

Sold Out

Positions the filer fully exited

3 positions

Ticker	Company	Shares	Value
CNTA	Centessa Pharmaceuticals plc	489,849	$19,456,802
—		897,681	$18,070,319
MAZE	Maze Therapeutics, Inc.	200,000	$5,970,000
No positions match the current search.

Portfolio Positions

Compact Export CSV View 13F filing

30 tracked positions · $509,683,850 total · filing declares 30 positions · $509,681,144 · as of Jun 30, 2026

All sectors Financial Services Healthcare

Ticker	Company	Type	Shares	Δ Shares	Value (USD)	% Δ Value	Held (qtrs)	Est. cost/share	% of Portfolio
KNSA	Kiniksa Pharmaceuticals International, plc Healthcare	Added	918,070	+157,007	$58,710,576	+60.2%	3	before history	11.52%
RLAY	Relay Therapeutics, Inc. Healthcare	Held	2,984,125	0	$55,832,978	+88.0%	3	before history	10.95%
LBRX	Lb Pharmaceuticals Inc Healthcare	Held	1,376,159	0	$44,663,240	+31.6%	3	before history	8.76%
RLMD	Relmada Therapeutics, Inc. Healthcare	Added	6,391,328	+129,214	$44,227,989	+1.5%	3	before history	8.68%
ANRO	Alto Neuroscience, Inc. Healthcare	Added	1,353,047	+27,837	$35,706,910	+19.9%	3	before history	7.01%
DNTH	Dianthus Therapeutics, Inc. Healthcare	Reduced	354,816	-18,458	$34,587,463	+10.4%	3	before history	6.79%
ALKS	Alkermes plc. Healthcare	Added	543,876	+225,884	$28,499,102	+153.5%	2	$34.36	5.59%
SVRA	Savara Inc Healthcare	Added	3,452,576	+69,401	$21,267,868	+15.1%	3	before history	4.17%
PCVX	Vaxcyte, Inc. Healthcare	Added	306,047	+60,338	$17,790,512	+24.6%	3	before history	3.49%
ELVN	Enliven Therapeutics, Inc. Healthcare	Held	329,006	0	$16,697,054	+29.5%	3	before history	3.28%
ENTA	Enanta Pharmaceuticals Inc Healthcare	Added	1,088,731	+156,133	$15,873,697	+34.8%	3	before history	3.11%
CATX	Perspective Therapeutics, Inc. Healthcare	Added	3,693,931	+1,066,824	$12,596,304	+15.0%	2	$4.10	2.47%
IFRX	InflaRx N.V. Healthcare	NEW	5,352,198	NEW	$11,988,923	NEW	1	$1.88	2.35%
SRZN	Surrozen, Inc. Healthcare	Held	432,040	0	$11,211,438	−10.9%	3	before history	2.20%
ALMS	Alumis Inc. Healthcare	Held	392,574	0	$11,047,032	+27.7%	2	$25.00	2.17%
IPSC	Century Therapeutics, Inc. Healthcare	Held	4,059,054	0	$9,944,682	+8.4%	3	before history	1.95%
NERV	Minerva Neurosciences, Inc. Healthcare	Held	1,655,500	0	$9,188,025	−7.9%	3	before history	1.80%
SABS	SAB Biotherapeutics, Inc. Healthcare	Held	2,198,502	0	$8,574,157	+1.8%	3	before history	1.68%
ANTX	AN2 Therapeutics, Inc. Healthcare	Held	1,661,073	0	$8,039,593	+41.5%	2	$2.06	1.58%
ERAS	Erasca, Inc. Healthcare	Held	422,543	0	$7,740,987	+13.2%	3	before history	1.52%
IKT	Inhibikase Therapeutics, Inc. Healthcare	Held	3,581,603	0	$7,270,654	+20.8%	3	before history	1.43%
RACC	Research Alliance Corp III Financial Services	NEW	500,000	NEW	$5,350,000	NEW	1	$10.42	1.05%
HLXC	Helix Acquisition Corp. III Financial Services	Held	500,000	0	$5,320,000	+4.7%	2	$10.24	1.04%
ZLAB	Zai Lab Ltd Healthcare	NEW	279,110	NEW	$5,303,090	NEW	1	$19.76	1.04%
ACHV	Achieve Life Sciences, Inc. Healthcare	NEW	736,637	NEW	$4,810,239	NEW	1	$4.77	0.94%
LXEO	Lexeo Therapeutics, Inc. Healthcare	Held	928,593	0	$4,322,600	−18.9%	3	before history	0.85%
ALEC	Alector, Inc. Healthcare	Held	2,101,068	0	$4,223,146	−6.5%	3	before history	0.83%
LONA	LeonaBio, Inc. Healthcare	Held	393,701	0	$3,618,112	−10.6%	3	before history	0.71%
CRVS	Corvus Pharmaceuticals, Inc. Healthcare	Held	231,585	0	$3,459,879	+2.1%	2	$15.96	0.68%
JATT	JATT II Acquisition Corp. Financial Services	NEW	160,000	NEW	$1,817,600	NEW	1	$10.63	0.36%

Covers the securities this platform tracks: U.S.-listed common stock and the put/call positions reported on it. A 13F can also report security types outside that coverage — preferred shares, bonds, warrants, untracked share classes — so the filing's own declared total can exceed the figures above. The source filing is linked at the top of this table.