Spruce Street Capital LP 13F: Quarter-over-Quarter Portfolio Changes
Spruce Street Capital LP reported a disclosed portfolio value of approximately $509.7 million in its latest SEC Form 13F-HR filing for Q2 2026, up 22.5% quarter on quarter. Over the quarter, the fund initiated 5 new positions, bought more shares in 8 holdings, trimmed 1 holding, and exited 3 positions.
Spruce Street Capital LP's top buy was Alkermes PLC (ALKS) . The fund bought 71.0% more shares, lifting the position's portfolio weight by 2.9 percentage points. Its top sell was Centessa Pharmaceuticals PLC (CNTA) . The fund exited the position completely after it had accounted for 4.7% of the previous portfolio.
New PositionsQ2 2026
Securities disclosed for the first time in Q2 2026 that were not present in the prior 13F-HR filing.
| Company | Ticker | Initial Portfolio Weight | History |
|---|---|---|---|
| INFLARX NV | IFRX | 2.4% | Holders → |
| RESEARCH ALLIANCE CORP III | RACC | 1.0% | Holders → |
| ZAI LAB LTD | ZLAB | 1.0% | Holders → |
| ACHIEVE LIFE SCIENCE INC | ACHV | 0.9% | Holders → |
| JATT II ACQUISITION CORP | JATT | 0.4% | Holders → |
Top BuysQ2 2026
The fund's top buys among existing positions in Q2 2026. Ranked by portfolio-weight impact, with the percentage of additional shares shown separately.
| Company | Ticker | Portfolio Weight Change | More Shares | History |
|---|---|---|---|---|
| ALKERMES PLC | ALKS | +2.9% | +71.0% | History → |
| PERSPECTIVE THERAPEUTICS INC | CATX | +-0.2% | +40.6% | Holders → |
| VAXCYTE INC | PCVX | +0.1% | +24.6% | History → |
| KINIKSA PHARMACEUTICALS INTL | KNSA | +2.7% | +20.6% | History → |
| ENANTA PHARMACEUTICALS INC | ENTA | +0.3% | +16.7% | Holders → |
| ALTO NEUROSCIENCE INC | ANRO | +0.0% | +2.1% | History → |
| RELMADA THERAPEUTICS INC | RLMD | +-1.7% | +2.1% | History → |
| SAVARA INC | SVRA | +-0.3% | +2.1% | History → |
Top SellsQ2 2026
The fund's top sells among positions it retained in Q2 2026. Ranked by portfolio-weight impact. Full exits are listed separately.
| Company | Ticker | Portfolio Weight Change | Shares Sold | History |
|---|---|---|---|---|
| DIANTHUS THERAPEUTICS INC | DNTH | -0.7% | 4.9% | History → |
Full ExitsQ2 2026
Positions present in the prior 13F-HR filing that no longer appear in Q2 2026.
| Company | Ticker | Last-Reported Portfolio Weight |
|---|---|---|
| CENTESSA PHARMACEUTICALS PLC | CNTA | 4.7% |
| KALVISTA PHARMACEUTICALS | KALV | 4.3% |
| MAZE THERAPEUTICS INC | MAZE | 1.4% |
Net Portfolio Value ChangeQ2 2026
- $0.4BPrior quarter
- $0.5BCurrent quarter
- +$0.1BNet delta
- +22.5%% change
Methodology & FAQ
How Spruce Street Capital LP Quarterly Changes Are Computed
All deltas are sourced from sequential SEC Form 13F-HR filings for Spruce Street Capital LP: each row joins the most recent filing against the immediately preceding quarterly filing for the same fund. Share-count changes reflect reported trading activity, while portfolio weights can also move because of market price changes. Portfolio weights are normalized to exclude listed options for comparability. A complete description, including how confidential treatment filings are handled, is documented in the Methodology.
What stocks did Spruce Street Capital LP buy in Q2 2026?
In Q2 2026, Spruce Street Capital LP initiated 5 new positions (INFLARX NV (IFRX), RESEARCH ALLIANCE CORP III (RACC), ZAI LAB LTD (ZLAB), ACHIEVE LIFE SCIENCE INC (ACHV), JATT II ACQUISITION CORP (JATT)); bought more shares of ALKERMES PLC (ALKS), PERSPECTIVE THERAPEUTICS INC (CATX), VAXCYTE INC (PCVX), KINIKSA PHARMACEUTICALS INTL (KNSA), ENANTA PHARMACEUTICALS INC (ENTA) (the largest 5 of 8 adds).
What stocks did Spruce Street Capital LP sell in Q2 2026?
In Q2 2026, Spruce Street Capital LP fully sold 3 positions (CENTESSA PHARMACEUTICALS PLC (CNTA), KALVISTA PHARMACEUTICALS (KALV), MAZE THERAPEUTICS INC (MAZE)); reduced holdings in DIANTHUS THERAPEUTICS INC (DNTH).
Which positions did Spruce Street Capital LP initiate in Q2 2026?
Spruce Street Capital LP established 5 new positions in Q2 2026: INFLARX NV (IFRX, 2.4%), RESEARCH ALLIANCE CORP III (RACC, 1.0%), ZAI LAB LTD (ZLAB, 1.0%), ACHIEVE LIFE SCIENCE INC (ACHV, 0.9%), JATT II ACQUISITION CORP (JATT, 0.4%).
Which existing positions saw the largest allocation increases for Spruce Street Capital LP in Q2 2026?
Of 8 existing positions with share-count increases in Q2 2026, the largest were: ALKERMES PLC (ALKS, +2.9% weight, +71.0% shares), PERSPECTIVE THERAPEUTICS INC (CATX, +-0.2% weight, +40.6% shares), VAXCYTE INC (PCVX, +0.1% weight, +24.6% shares), KINIKSA PHARMACEUTICALS INTL (KNSA, +2.7% weight, +20.6% shares), ENANTA PHARMACEUTICALS INC (ENTA, +0.3% weight, +16.7% shares), ALTO NEUROSCIENCE INC (ANRO, +0.0% weight, +2.1% shares), RELMADA THERAPEUTICS INC (RLMD, +-1.7% weight, +2.1% shares), SAVARA INC (SVRA, +-0.3% weight, +2.1% shares).
Which positions did Spruce Street Capital LP fully exit in Q2 2026?
Spruce Street Capital LP fully exited 3 positions in Q2 2026: CENTESSA PHARMACEUTICALS PLC (CNTA, last-reported weight 4.7%), KALVISTA PHARMACEUTICALS (KALV, last-reported weight 4.3%), MAZE THERAPEUTICS INC (MAZE, last-reported weight 1.4%).
Which existing positions saw the largest allocation reductions for Spruce Street Capital LP in Q2 2026?
Of 1 existing position with share-count reductions in Q2 2026, the largest were: DIANTHUS THERAPEUTICS INC (DNTH, -0.7% weight, -4.9% shares).
Do quarter-over-quarter 13F allocation changes constitute explicit trading signals?
No. Quarter-over-quarter changes reflect a combination of active trading and market price movement. A weight increase can result from price appreciation alone, without the manager adding shares. Share-count delta is the cleaner indicator of explicit trading activity. All deltas on this page are sourced from sequential SEC Form 13F-HR filings.