Q2 2026 13F · SEC CIK 2050194

Spruce Street Capital LP

Hedge fundFiled 2026-08-13 for Q2 2026. Open the filing ↗ · All SEC filings ↗

Reported 13F value: $509.7M
Reported positions: 30
Holdings vs S&P 500, 3 yrs: —
Assets under management: $555.9M

Spruce Street Capital LP is a hedge fund that reported 30 positions worth $509.7M in its Q2 2026 13F, filed 2026-08-13. Its largest holdings were Kiniksa Pharmaceuticals Intl P (KNSA, 11.5%), Relay Therapeutics Inc (RLAY, 11.0%), LB Pharmaceuticals, Inc. (LBRX, 8.8%).

Spruce Street Capital LP holdings all 30 positions.

Weights are shares of the filer's total reported 13F value, compared with Q1 2026. Share changes may reflect splits; weight changes also reflect price moves. A 13F shows long US-listed positions only, up to 135 days after the fact.

Spruce Street Capital LP 13F holdings
Stock	% of 13F value	Q1 2026	Shares	Share change	Reported value
KNSAKiniksa Pharmaceuticals Intl P	11.5%	8.8%	918,070	+20.6%	$58.7M
RLAYRelay Therapeutics Inc	11.0%	7.1%	2,984,125	+0.0%	$55.8M
LBRXLB Pharmaceuticals, Inc.	8.8%	8.1%	1,376,159	+0.0%	$44.7M
RLMDRelmada Therapeutics Inc	8.7%	10.3%	6,391,328	+2.1%	$44.2M
ANROAlto Neuroscience Inc	7.0%	7.0%	1,353,047	+2.1%	$35.7M
DNTHDianthus Therapeutics Inc	6.8%	7.5%	354,816	-4.9%	$34.6M
ALKSAlkermes PLC	5.6%	2.7%	543,876	+71.0%	$28.5M
SVRASavara Inc	4.2%	4.4%	3,452,576	+2.1%	$21.3M
PCVXVaxcyte Inc	3.5%	3.4%	306,047	+24.6%	$17.8M
ELVNEnliven Therapeutics Inc	3.3%	3.1%	329,006	+0.0%	$16.7M
ENTAEnanta Pharmaceuticals Inc	3.1%	2.8%	1,088,731	+16.7%	$15.9M
CATXPerspective Therapeutics Inc	2.5%	2.6%	3,693,931	+40.6%	$12.6M
N44821101Inflarx NV	2.4%	New	5,352,198	—	$12.0M
SRZNSurrozen Inc	2.2%	3.0%	432,040	+0.0%	$11.2M
ALMSAlumis Inc Com	2.2%	2.1%	392,574	+0.0%	$11.0M
IPSCCentury Therapeutics Inc	2.0%	2.2%	4,059,054	+0.0%	$9.9M
NERVMinerva Neurosciences Inc	1.8%	2.4%	1,655,500	+0.0%	$9.2M
SABSSab Biotherapeutics Inc	1.7%	2.0%	2,198,502	+0.0%	$8.6M
ANTXAn2 Therapeutics Inc	1.6%	1.3%	1,661,073	+0.0%	$8.0M
ERASErasca Inc	1.5%	1.6%	422,543	+0.0%	$7.7M
IKTInhibikase Therapeutics Inc	1.4%	1.4%	3,581,603	+0.0%	$7.3M
RACCResearch Alliance Corp III	1.1%	New	500,000	—	$5.3M
HLXCHelix Acquisition Corp III	1.0%	1.2%	500,000	+0.0%	$5.3M
ZLABZai Lab Ltd	1.0%	New	279,110	—	$5.3M
ACHVAchieve Life Sciences Inc	0.9%	New	736,637	—	$4.8M
LXEOLexeo Therapeutics Inc	0.8%	1.3%	928,593	+0.0%	$4.3M
ALECAlector Inc	0.8%	1.1%	2,101,068	+0.0%	$4.2M
LONALeonabio Inc	0.7%	0.9%	393,701	+0.0%	$3.6M
CRVSCorvus Pharmaceuticals Inc Com	0.7%	0.8%	231,585	+0.0%	$3.5M
JATTJatt II Acquisition Corp	0.4%	New	160,000	—	$1.8M

What Spruce Street Capital LP bought and sold in Q2 2026, against Q1 2026.

New positions

Inflarx NV2.4% of 13F
RACC Research Alliance Corp III1.1% of 13F
ZLAB Zai Lab Ltd1.0% of 13F
ACHV Achieve Life Sciences Inc0.9% of 13F
JATT Jatt II Acquisition Corp0.4% of 13F

Added to

ALKS Alkermes PLC+71.0% shares
CATX Perspective Therapeutics Inc+40.6% shares
PCVX Vaxcyte Inc+24.6% shares
KNSA Kiniksa Pharmaceuticals Intl P+20.6% shares
ENTA Enanta Pharmaceuticals Inc+16.7% shares

Reduced

No position shrank by more than 5%.

Sold out

CNTA Centessa Pharmaceuticals PLCwas 4.7%
KALV Kalvista Pharmaceuticals Incwas 4.3%
MAZE Maze Therapeutics Incwas 1.4%

Share counts compared with the Q1 2026 13F; a split also changes share counts.

How the holdings did against the S&P 500.

1 year: —
3 years: —
5 years: —

A portfolio of the filer's 20 largest 13F positions, weighted by value and rebuilt each quarter on the day the filing became public. 13Fs show long US-listed positions only, so this is an estimate of the stock picks, not the fund's reported returns.

Reported 13F value by quarter.

13F value by quarter
Quarter	13F value	Positions
Q2 2026	$509.7M	30
Q1 2026	$415.9M	28
Q4 2025	$302.7M	27

Questions about Spruce Street Capital LP's portfolio

What stocks does Spruce Street Capital LP own?

Spruce Street Capital LP's latest 13F, for Q2 2026 and filed Aug 13, 2026, lists 30 positions worth $509.7M. The largest are Kiniksa Pharmaceuticals Intl P (KNSA) at 11.5%, Relay Therapeutics Inc (RLAY) at 11.0%, LB Pharmaceuticals, Inc. (LBRX) at 8.8%, Relmada Therapeutics Inc (RLMD) at 8.7% and Alto Neuroscience Inc (ANRO) at 7.0%.

What did Spruce Street Capital LP buy last quarter?

In Q2 2026, Spruce Street Capital LP added a new position in Inflarx NV, a new position in Research Alliance Corp III (RACC), a new position in Zai Lab Ltd (ZLAB), a new position in Achieve Life Sciences Inc (ACHV), a new position in Jatt II Acquisition Corp (JATT), Alkermes PLC (ALKS) (+71.0% shares), Perspective Therapeutics Inc (CATX) (+40.6% shares) and Vaxcyte Inc (PCVX) (+24.6% shares), compared with its Q1 2026 filing.

What did Spruce Street Capital LP sell last quarter?

In Q2 2026, Spruce Street Capital LP sold all of Centessa Pharmaceuticals PLC (CNTA), sold all of Kalvista Pharmaceuticals Inc (KALV) and sold all of Maze Therapeutics Inc (MAZE), compared with its Q1 2026 filing.

When is Spruce Street Capital LP's next 13F filing due?

13F filings are due 45 days after each quarter ends. Spruce Street Capital LP's filing for the quarter ending Sep 30, 2026 is due by Nov 14, 2026; this page updates the day after it is published.

How much money does Spruce Street Capital LP manage?

Spruce Street Capital LP reported $555.9M of regulatory assets under management on its latest SEC Form ADV. Its 13F, which covers only US-listed stocks and options, totals $509.7M.