Spruce Street Capital LP

CIK 0002050194 · Q2 2026

13F Equity AUM

$509.7M

+22.5% QoQ

Positions

+2 QoQ

AUM Rank

#3,647

Top 42%

Skill Alpha (FF)

—

Building track record (2q)

Quarters Tracked

~0 years

Portfolio Concentration

Top 5: 46.9%Top 10: 70.2%Top 20: 91.1%

KINIKSA PHARMACEUTICALS INTL11.5%

RLAY10.9%

LBRX8.8%

RLMD8.7%

ANRO7.0%

DNTH6.8%

ALKS5.6%

YB4P4.2%

PCVX3.5%

ELVN3.3%

Others (20)29.8%

HHI (Herfindahl-Hirschman Index) measures portfolio concentration. Low (<1500) = diversified, Moderate (1500-2500), High (>2500) = concentrated bets.

Sector Allocation

Healthcare86.0%

Unclassified14.0%

Portfolio weight by GICS sector based on latest 13F filing. Sectors below 2% are grouped as “Other.”

Position Sizing

Positions: 30Median: 2.06%Avg: 3.33%

0–0.5%

1(0.4%)

0.5–1%

5(4.0%)

1–3%

13(22.3%)

3–5%

4(14.1%)

5%+

7(59.3%)

Count of positions per weight bucket — (%) = combined portfolio weight

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Portfolio Overlap

Shared: 0Unique: 30vs 20 funds

0%Low

Fund positions

Consensus CUSIPs

Jaccard similarity of this fund’s portfolio vs the consensus of top 20 funds by AUM. Low (<15%) = contrarian, Moderate (15-40%), High (>40%) = follows the crowd.

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Position Changes This Quarter

New5Increased8Decreased1Exited3

New Positions

IFRX2.4%

+5.4M

RESEARCH ALLIANCE CO…1.1%

+500K

ZLAB1.0%

+279K

SP4P0.9%

+737K

JATT II ACQUISITION …0.4%

+160K

Increased

CATX2.5%

+1.1M(+41%)

ALKS5.6%

+226K(+71%)

KINIKSA PHARMACEUTIC…11.5%

+157K(+21%)

ENTA3.1%

+156K(+17%)

RLMD8.7%

+129K(+2%)

YB4P4.2%

+69K(+2%)

PCVX3.5%

+60K(+25%)

ANRO7.0%

+28K(+2%)

Decreased

DNTH6.8%

-18,458(-5%)

Exited

CNTA

-489,849

KALV

-897,681

MAZE

-200,000

Quarter-over-quarter changes compared to prior 13F filing. New = first appearance; Exited = no longer held.

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Holdings

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