# Spruce Street Capital LP

> Institutional holdings reported to the SEC as of Q2 2026 on Form 13F. CIK 2050194. Source: https://holderbook.com/funds/2050194-spruce-street-capital-lp/

- Reported value: $509.7M
- Positions: 30
- Weight of the ten largest: 70.2%
- Filed: 2026-08-13

A 13F reports long US equity positions only. Short positions, bonds, foreign listings, private holdings and cash are not visible, so this is not the manager's whole book.

## Holdings

| Security | Ticker | Value | Shares | Weight | Quarters held |
|---|---|---|---|---|---|
| KINIKSA PHARMACEUTICALS INTL | [KNSA](https://holderbook.com/stocks/KNSA/) | $58.7M | 918,070 | 11.5% | 3 |
| RELAY THERAPEUTICS INC | [RLAY](https://holderbook.com/stocks/RLAY/) | $55.8M | 2,984,125 | 11.0% | 3 |
| LB PHARMACEUTICALS INC | [LBRX](https://holderbook.com/stocks/LBRX/) | $44.7M | 1,376,159 | 8.8% | 3 |
| RELMADA THERAPEUTICS INC | [RLMD](https://holderbook.com/stocks/RLMD/) | $44.2M | 6,391,328 | 8.7% | 3 |
| ALTO NEUROSCIENCE INC | [ANRO](https://holderbook.com/stocks/ANRO/) | $35.7M | 1,353,047 | 7.0% | 3 |
| DIANTHUS THERAPEUTICS INC | [DNTH](https://holderbook.com/stocks/DNTH/) | $34.6M | 354,816 | 6.8% | 3 |
| ALKERMES PLC | [ALKS](https://holderbook.com/stocks/ALKS/) | $28.5M | 543,876 | 5.6% | 2 |
| SAVARA INC | [SVRA](https://holderbook.com/stocks/SVRA/) | $21.3M | 3,452,576 | 4.2% | 3 |
| VAXCYTE INC | [PCVX](https://holderbook.com/stocks/PCVX/) | $17.8M | 306,047 | 3.5% | 3 |
| ENLIVEN THERAPEUTICS INC | [ELVN](https://holderbook.com/stocks/ELVN/) | $16.7M | 329,006 | 3.3% | 3 |
| ENANTA PHARMACEUTICALS INC | [ENTA](https://holderbook.com/stocks/ENTA/) | $15.9M | 1,088,731 | 3.1% | 3 |
| PERSPECTIVE THERAPEUTICS INC | [CATX](https://holderbook.com/stocks/CATX/) | $12.6M | 3,693,931 | 2.5% | 2 |
| INFLARX NV | [IFRX](https://holderbook.com/stocks/IFRX/) | $12.0M | 5,352,198 | 2.4% | 1 |
| SURROZEN INC | [SRZN](https://holderbook.com/stocks/SRZN/) | $11.2M | 432,040 | 2.2% | 3 |
| ALUMIS INC | [ALMS](https://holderbook.com/stocks/ALMS/) | $11.0M | 392,574 | 2.2% | 2 |
| CENTURY THERAPEUTICS INC | [IPSC](https://holderbook.com/stocks/IPSC/) | $9.9M | 4,059,054 | 2.0% | 3 |
| MINERVA NEUROSCIENCES INC | [NERV](https://holderbook.com/stocks/NERV/) | $9.2M | 1,655,500 | 1.8% | 3 |
| SAB BIOTHERAPEUTICS INC | [SABS](https://holderbook.com/stocks/SABS/) | $8.6M | 2,198,502 | 1.7% | 3 |
| AN2 THERAPEUTICS INC | [ANTX](https://holderbook.com/stocks/ANTX/) | $8.0M | 1,661,073 | 1.6% | 2 |
| ERASCA INC | [ERAS](https://holderbook.com/stocks/ERAS/) | $7.7M | 422,543 | 1.5% | 3 |
| INHIBIKASE THERAPEUTICS INC | [IKT](https://holderbook.com/stocks/IKT/) | $7.3M | 3,581,603 | 1.4% | 3 |
| RESEARCH ALLIANCE CORP III | [RACC](https://holderbook.com/stocks/RACC/) | $5.3M | 500,000 | 1.0% | 1 |
| HELIX ACQUISITION CORP III | [HLXC](https://holderbook.com/stocks/HLXC/) | $5.3M | 500,000 | 1.0% | 2 |
| ZAI LAB LTD | [ZLAB](https://holderbook.com/stocks/ZLAB/) | $5.3M | 279,110 | 1.0% | 1 |
| ACHIEVE LIFE SCIENCE INC | [ACHV](https://holderbook.com/stocks/ACHV/) | $4.8M | 736,637 | 0.9% | 1 |
| LEXEO THERAPEUTICS INC | [LXEO](https://holderbook.com/stocks/LXEO/) | $4.3M | 928,593 | 0.8% | 3 |
| ALECTOR INC | [ALEC](https://holderbook.com/stocks/ALEC/) | $4.2M | 2,101,068 | 0.8% | 3 |
| LEONABIO INC | [LONA](https://holderbook.com/stocks/LONA/) | $3.6M | 393,701 | 0.7% | 3 |
| CORVUS PHARMACEUTICALS INC | [CRVS](https://holderbook.com/stocks/CRVS/) | $3.5M | 231,585 | 0.7% | 2 |
| JATT II ACQUISITION CORP | - | $1.8M | 160,000 | 0.4% | 1 |

## What the disclosed book did

Not the fund's return. This is the change in value of the positions disclosed on Form 13F, had they been left untouched, against SPY over the same quarter ends.

| Quarter | Book | Market | Difference | Priced |
|---|---|---|---|---|
| Q2 2026 | +19.6% | +14.8% | +4.8% | 91% |
| Q1 2026 | +37.1% | -4.6% | +41.7% | 83% |

## Quarter by quarter

| Quarter | Value | Positions |
|---|---|---|
| Q2 2026 | $509.7M | 30 |
| Q1 2026 | $415.9M | 28 |
| Q4 2025 | $302.7M | 27 |