CIK: 0002050194
Total reported value
$415.9M
Reporting period: 2026-03-31 · Number of holdings: 28
Spruce Street Capital LP disclosed 28 holdings in its latest 13F filing for the period ending 2026-03-31, with total reported value of $415.9M and a quarterly turnover rate of 90.4%.
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Spruce Street Capital LP's disclosed holdings carry a Herfindahl concentration index of 0.055 — mathematically equivalent to about 18 equally-sized positions, close to its 28 actual disclosed holdings. Value is spread relatively evenly across the portfolio rather than concentrated in a handful of names.
Position sizes are fairly uniform across the portfolio (a coefficient of variation of 0.75), suggesting a disciplined, rules-based approach to how much capital goes into each idea.
No strong tilt toward either adding to existing winners or initiating outsized new positions was observed in the latest reported quarter.
Sector classification currently covers about 3% 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.
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Add ANRO
+494.7% $25.1M
Add 260
+528.0% $17.5M
Add RLMD
+53.3% $23.3M
Add DNTH
+25.5% $19.1M
Trim ERAS
-89.1% -$7.6M
Add KNSA
+75.0% $18.7M
| # | Ticker | Issuer | Asset Subclass | Weight | Weight Change | Shares Change | 4Q Trend |
|---|---|---|---|---|---|---|---|
| 1 | RLMD | Relmada Therapeutics INC | Stock-Other | 10.34% | +3.82% | +53.25% | |
| 2 | KNSA | Kiniksa Pharmaceuticals International, plc | Stock-Other | 8.81% | +2.88% | +74.96% | |
| 3 | LBRX | Lb Pharmaceuticals INC | Stock-Other | 8.09% | +0.69% | +36.85% | |
| 4 | DNTH | Dianthus Therapeutics INC | Stock-Other | 7.53% | +3.48% | +25.50% | |
| 5 | RLAY | Relay Therapeutics INC | Stock-Other | 7.14% | -1.20% | — | |
| 6 | ANRO | Alto Neuroscience INC | Stock-Other | 7.00% | +5.69% | +494.68% | |
| 7 | 260 | Centessa Pharmaceuticals-adr | Stock-Other | 4.68% | +4.04% | +528.04% | |
| 8 | SVRA | Savara INC | Stock-Other | 4.44% | -0.36% | +40.32% | |
| 9 | 4XC1 | Kalvista Pharmaceuticals INC | Stock-Other | 4.34% | +2.27% | +131.38% | |
| 10 | PCVX | Vaxcyte INC | Stock-Other | 3.43% | -2.67% | -38.63% | |
| 11 | ELVN | Enliven Therapeutics INC | Stock-Other | 3.10% | +0.83% | -26.25% | |
| 12 | SRZN | Surrozen INC | Stock-Other | 3.03% | -0.20% | — | |
| 13 | ENTA | Enanta Pharmaceuticals INC | Stock-Other | 2.83% | +0.80% | +139.32% | |
| 14 | ALKS | Alkermes plc | Stock-Healthcare | 2.70% | +2.70% | NEW | |
| 15 | CATX | Perspective Therapeutics INC | Stock-Other | 2.63% | +2.63% | NEW | |
| 16 | NERV | Minerva Neurosciences INC | Stock-Other | 2.40% | +0.20% | — | |
| 17 | IPSC | Century Therapeutics INC | Stock-Other | 2.21% | +1.74% | +185.54% | |
| 18 | ALMS | Alumis INC | Stock-Other | 2.08% | +2.08% | NEW | |
| 19 | SABS | Sab Biotherapeutics INC | Stock-Other | 2.02% | -0.70% | — | |
| 20 | ERAS | Erasca INC | Stock-Other | 1.64% | -3.14% | -89.14% | |
| 21 | IKT | Inhibikase Therapeutics INC | Stock-Other | 1.45% | -0.98% | — | |
| 22 | MAZE | Maze Therapeutics INC | Stock-Other | 1.44% | +1.44% | NEW | |
| 23 | ANTX | An2 Therapeutics INC | Stock-Other | 1.34% | +1.34% | NEW | |
| 24 | LXEO | Lexeo Therapeutics INC | Stock-Other | 1.28% | +0.71% | +430.62% | |
| 25 | ✓ | Helix Acquisition CORP Iii | Stock-Other | 1.22% | +1.22% | NEW | |
| 26 | ALEC | Alector INC | Stock-Other | 1.09% | +0.51% | +87.93% | |
| 27 | LONA | Leonabio INC | Stock-Other | 0.92% | -0.06% | — | |
| 28 | CRVS | Corvus Pharmaceuticals INC | Stock-Other | 0.81% | +0.81% | NEW |
Performance for Q3 2026
+5.6%
Performance Last 4 Quarters
+15.2%
Based on 5 months of available history
Based on 75% of reported portfolio value with available pricing
Spruce Street Capital LP's most significant position changes for 2026-03-31: Sold out: Cidara Therapeutics INC (CDTX); Sold out: Eyepoint INC (EYPT); New buy: Alkermes plc (ALKS); New buy: Perspective Therapeutics INC (CATX); Sold out: Ocular Therapeutix INC (OCUL).
| # | Ticker | Issuer | Weight Change | Shares Change | Action |
|---|---|---|---|---|---|
| 1 | ANRO | Alto Neuroscience INC | +5.7% | +494.68% | Add |
| 2 | 260 | Centessa Pharmaceuticals-adr | +4% | +528.04% | Add |
| 3 | RLMD | Relmada Therapeutics INC | +3.8% | +53.25% | Add |
| 4 | DNTH | Dianthus Therapeutics INC | +3.5% | +25.50% | Add |
| 5 | KNSA | Kiniksa Pharmaceuticals International, plc | +2.9% | +74.96% | Add |
| 6 | 4XC1 | Kalvista Pharmaceuticals INC | +2.3% | +131.38% | Add |
| 7 | IPSC | Century Therapeutics INC | +1.7% | +185.54% | Add |
| 8 | ELVN | Enliven Therapeutics INC | +0.8% | -26.25% | Trim |
| 9 | ENTA | Enanta Pharmaceuticals INC | +0.8% | +139.32% | Add |
| 10 | LXEO | Lexeo Therapeutics INC | +0.7% | +430.62% | Add |
| 11 | LBRX | Lb Pharmaceuticals INC | +0.7% | +36.85% | Add |
| 12 | ALEC | Alector INC | +0.5% | +87.93% | Add |
| 13 | NERV | Minerva Neurosciences INC | +0.2% | — | Unchanged |
| 14 | LONA | Leonabio INC | -0.1% | — | Unchanged |
| 15 | SRZN | Surrozen INC | -0.2% | — | Unchanged |
| 16 | SVRA | Savara INC | -0.4% | +40.32% | Add |
| 17 | SABS | Sab Biotherapeutics INC | -0.7% | — | Unchanged |
| 18 | IKT | Inhibikase Therapeutics INC | -1% | — | Unchanged |
| 19 | RLAY | Relay Therapeutics INC | -1.2% | — | Unchanged |
| 20 | PCVX | Vaxcyte INC | -2.7% | -38.63% | Trim |
| 21 | ERAS | Erasca INC | -3.1% | -89.14% | Trim |
| 22 | CDTX | Cidara Therapeutics INC | — | EXIT | Sold out |
| 23 | EYPT | Eyepoint INC | — | EXIT | Sold out |
| 24 | ALKS | Alkermes plc | — | NEW | New buy |
| 25 | CATX | Perspective Therapeutics INC | — | NEW | New buy |
| 26 | OCUL | Ocular Therapeutix INC | — | EXIT | Sold out |
| 27 | ALMS | Alumis INC | — | NEW | New buy |
| 28 | ABVX | Abivax Sa-adr | — | EXIT | Sold out |
| 29 | HELP | Cybin INC | — | EXIT | Sold out |
| 30 | MAZE | Maze Therapeutics INC | — | NEW | New buy |
| 31 | ANTX | An2 Therapeutics INC | — | NEW | New buy |
| 32 | ✓ | Helix Acquisition CORP Iii | — | NEW | New buy |
| 33 | CRVS | Corvus Pharmaceuticals INC | — | NEW | New buy |
| 34 | STRO | Sutro Biopharma INC | — | EXIT | Sold out |
| Period | Filed | Type | EDGAR |
|---|---|---|---|
| 2026-03-31 | 2026-05-14 | 13F-HR | View on EDGAR |
| 2025-12-31 | 2026-02-13 | 13F-HR | View on EDGAR |
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