SP
Spruce Point Capital Management, LLC Quarterly 13F Portfolio Update (Q2 2026)
Spruce Point Capital Management, LLCCIK: 0001731579
Sector-focusedMomentum followerQuality / disciplined sizing
Total reported value
$57.8M
Reporting period: 2026-06-30 · Number of holdings: 21
Spruce Point Capital Management, LLC disclosed 21 holdings in its latest 13F filing for the period ending 2026-06-30, with total reported value of $57.8M and a quarterly turnover rate of 71.7%.
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Personality snowflake
- Concentration
- 43.62
- Portfolio Stability
- 71.69
- Momentum
- 100
- Sector conviction
- 100
- Diversification
- 40
- Sizing Uniformity
- 88.85
Spruce Point Capital Management, LLC's disclosed holdings carry a Herfindahl concentration index of 0.109 — mathematically equivalent to about 9 equally-sized positions, well below its 21 actual disclosed holdings. That gap points to a strategy built around a small core of high-conviction bets rather than broad diversification.
Position sizes are fairly uniform across the portfolio (a coefficient of variation of 1.11), suggesting a disciplined, rules-based approach to how much capital goes into each idea.
Recent activity leans toward adding more aggressively to already-large existing positions than to newly initiated ones (a 3.3 percentage-point tilt) — a pattern consistent with a momentum-following approach.
Sector classification currently covers about 10% of this portfolio's disclosed value; the remainder includes holdings (e.g. unmapped tickers, options, or other security types) not yet covered by our sector mapping.
Source and citation information
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Recent moves
View source Form 13F filing on SEC.govTrim MOO
-98.0% -$13.1M
Trim BG
-81.8% -$11.9M
Add SPY
+13.3% $2.9M
Sold out XLP
Add QQQ
+64.2% $3.2M
Add IWM
-9.3% $687.4K
Holdings Map
New buyAddUnchangedTrim
Top 10 holdings by weight
Full holdings list this quarter
Showing top 20 holdings (of 21 total)
| # | Ticker | Issuer | Asset Subclass | Weight | Weight Change | Shares Change | 4Q Trend |
|---|---|---|---|---|---|---|---|
| 1 | SPY | Ss Spdr S&p 500 ETF Trust-us | ETF-Large Cap & Growth | 21.95% | +11.22% | +13.33% | |
| 2 | IWM | Ishares Russell 2000 ETF | ETF-Small Cap | 13.19% | +5.55% | -9.29% | |
| 3 | REMX | Vaneck Rar Earth Nd Stg-usdi | ETF-Other | 12.96% | +1.72% | -27.06% | |
| 4 | QQQ | Invesco Qqq Trust Series 1 | ETF-Tech | 10.45% | +7.28% | +64.20% | |
| 5 | GDXJ | Vaneck Junior Gold Miners | ETF-Commodities | 6.79% | -0.19% | -24.36% | |
| 6 | EUFN | Ishares Msci Europe Financia | ETF-Other | 6.07% | +2.47% | -4.26% | |
| 7 | VEGI | Ishares Msci Agriculture Pro | ETF-Other | 3.81% | +1.32% | — | |
| 8 | BG | Bunge Global SA | Stock-Consumer Staples | 3.73% | -11.76% | -81.75% | |
| 9 | ADM | Archer-daniels-midland Co | Stock-Consumer Staples | 3.17% | +1.14% | -5.41% | |
| 10 | GDX | Vaneck Gold Miners ETF | ETF-Commodities | 3.07% | +0.42% | -10.37% | |
| 11 | XLI | Ss Industrial Select Sector | ETF-Other | 2.88% | +1.74% | +40.63% | |
| 12 | TG | Tredegar CORP | Stock-Other | 1.98% | +1.98% | NEW | |
| 13 | EWA | Ishares Msci Australia ETF | ETF-Other | 1.95% | +0.73% | — | |
| 14 | IGM | Ishares Expanded Tech Sector | ETF-Tech | 1.70% | +0.92% | — | |
| 15 | WCC | Wesco International Inc | Stock-Industrials | 1.61% | +0.59% | -20.58% | |
| 16 | SGHC | Super Group (SGHC) Limited | Stock-Other | 1.35% | +0.66% | — | |
| 17 | SWKS | Skyworks Solutions Inc | Stock-Tech | 1.35% | +1.35% | NEW | |
| 18 | AIRR | First Trust Rba American Ind | ETF-Other | 1.00% | +0.47% | — | |
| 19 | URNM | Sprott Uranium Miners ETF | ETF-Other | 0.55% | -2.02% | -83.78% | |
| 20 | MOO | Vaneck Agribusiness ETF | ETF-Other | 0.44% | -14.25% | -97.97% |
Portfolio Performance
Performance for Q3 2026
-0.7%
Performance Last 4 Quarters
+7.2%
- Stdev
- +26.3%
- Beta
- +1.3
- Alpha
- -15.3%
- Max Drawdown
- -7.7%
- Annualized Perf
- +14.9%
- Batting Avg vs S&P
- +33.3%
- Sortino
- +1.32
- Stutzer
- +0.2
- Treynor
- +0.13
- Sterling
- —
- Calmar
- +1.95
- Information Ratio
- -0.68
- Tracking Error
- +11.7%
- Stdev Down
- +12.7%
- Winning Months %
- +50%
- Losing Months %
- +50%
- Best 12 Months
- —
- Worst 12 Months
- —
- Efficiency Ratio
- +0.19
- Sharpe
- +0.64
- Stdev Sectors
- +25.9%
- Skewness
- +0.32
- Kurtosis
- -1.38
- Upside Potential
- +3.65
Reported value over time
Sector allocation
Sector allocation over time
Quarterly history
Holding changes this quarter
Spruce Point Capital Management, LLC's most significant position changes for 2026-06-30: Sold out: Ss Consumer Staples Sel Sect (XLP); New buy: Tredegar CORP (TG); New buy: Skyworks Solutions Inc (SWKS); Sold out: Ishares US Transportation Et (IYT); Sold out: Nova Minerals Ltd-adr (QM30).
| # | Ticker | Issuer | Weight Change | Shares Change | Action |
|---|---|---|---|---|---|
| 1 | SPY | Ss Spdr S&p 500 ETF Trust-us | +11.2% | +13.33% | Add |
| 2 | QQQ | Invesco Qqq Trust Series 1 | +7.3% | +64.20% | Add |
| 3 | IWM | Ishares Russell 2000 ETF | +5.6% | -9.29% | Trim |
| 4 | EUFN | Ishares Msci Europe Financia | +2.5% | -4.26% | Trim |
| 5 | TG | Tredegar CORP | +2% | NEW | New buy |
| 6 | XLI | Ss Industrial Select Sector | +1.7% | +40.63% | Add |
| 7 | REMX | Vaneck Rar Earth Nd Stg-usdi | +1.7% | -27.06% | Trim |
| 8 | SWKS | Skyworks Solutions Inc | +1.4% | NEW | New buy |
| 9 | VEGI | Ishares Msci Agriculture Pro | +1.3% | — | Unchanged |
| 10 | ADM | Archer-daniels-midland Co | +1.1% | -5.41% | Trim |
| 11 | IGM | Ishares Expanded Tech Sector | +0.9% | — | Unchanged |
| 12 | EWA | Ishares Msci Australia ETF | +0.7% | — | Unchanged |
| 13 | SGHC | Super Group (SGHC) Limited | +0.7% | — | Unchanged |
| 14 | WCC | Wesco International Inc | +0.6% | -20.58% | Trim |
| 15 | AIRR | First Trust Rba American Ind | +0.5% | — | Unchanged |
| 16 | GDX | Vaneck Gold Miners ETF | +0.4% | -10.37% | Trim |
| 17 | GDXJ | Vaneck Junior Gold Miners | -0.2% | -24.36% | Trim |
| 18 | URA | Global X Uranium ETF | -0.4% | EXIT | Sold out |
| 19 | QM30 | Nova Minerals Ltd-adr | -0.5% | EXIT | Sold out |
| 20 | IYT | Ishares US Transportation Et | -0.5% | EXIT | Sold out |
| 21 | URNM | Sprott Uranium Miners ETF | -2% | -83.78% | Trim |
| 22 | XLP | Ss Consumer Staples Sel Sect | -9.9% | EXIT | Sold out |
| 23 | BG | Bunge Global SA | -11.8% | -81.75% | Trim |
| 24 | MOO | Vaneck Agribusiness ETF | -14.3% | -97.97% | Trim |
Filing History
FAQ
What is Spruce Point Capital Management, LLC and what type of investor is it?
Spruce Point Capital Management, LLC is an investment manager that files SEC Form 13F quarterly, disclosing its U.S. public equity holdings to regulators. As of the most recent reporting period (2026-06-30), the firm manages a tracked equity portfolio valued at approximately $57.8M, spread across 21 disclosed positions.
What are Spruce Point Capital Management, LLC's largest equity positions?
Based on the latest 13F filing, Spruce Point Capital Management, LLC's top holdings by market value are:
1. Ss Spdr S&p 500 ETF Trust-us (SPY) — $12.7M (21.9%)
2. Ishares Russell 2000 ETF (IWM) — $7.6M (13.2%)
3. Vaneck Rar Earth Nd Stg-usdi (REMX) — $7.5M (13.0%)
4. Invesco Qqq Trust Series 1 (QQQ) — $6.0M (10.4%)
5. Vaneck Junior Gold Miners (GDXJ) — $3.9M (6.8%)
What changes did Spruce Point Capital Management, LLC make in its most recent portfolio filing?
In the latest reported quarter, Spruce Point Capital Management, LLC made 19 notable position adjustments: 2 new positions were initiated, 3 existing holdings were added to, 10 positions were partially reduced, and 4 were completely exited. The largest of these moves: Sold out: Ss Consumer Staples Sel Sect (XLP); New buy: Tredegar CORP (TG); New buy: Skyworks Solutions Inc (SWKS); Sold out: Ishares US Transportation Et (IYT); Sold out: Nova Minerals Ltd-adr (QM30)
What sectors does Spruce Point Capital Management, LLC focus on?
Spruce Point Capital Management, LLC is concentrated in the following sectors based on its current disclosed equity portfolio:
• Consumer Staples: 70.0%
• Industrials: 16.4%
• Information Technology: 13.7%
Investment Profile
Spruce Point Capital Management, LLC returned an annualized 14.9% over the trailing 6 months — underperforming the S&P 500 by 15.3 points — based on a reconstructed track record of its disclosed 13F positions, with a beta of 1.30 (more volatile than the market) and a 33% quarterly batting average against the index.
Its portfolio is moderately concentrated and fast-trading, with 70.0% of the portfolio concentrated in Consumer Staples.
Its turnover score has risen from 0 to 72 over the past 3 quarters — a shift toward more active trading.
It has added to its IWM position for two straight quarters, increasing it by $4.7M to reach $7.6M.
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