2026 Q1 Portfolio Activity
In 2026 Q1, Spruce Street Capital LP maintained a portfolio of 34 distinct positions. The most significant new addition was ALKERMES PLC, now representing 2.70% of the total fund value. They heavily accumulated shares in ALTO NEUROSCIENCE INC, increasing the position by 494.7%. Conversely, Spruce Street Capital LP completely exited their position in CIDARA THERAPEUTICS INC.
Position History
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Spruce Street Capital LP
AUM $416M
Total Positions
34
Quarter
2026 Q1
Top Holding
RLMD (10.3%)
Top 10 Concentration
65.8%
Turnover Rate
23.4%
Sector HHI
0.18
Items per page:
Showing 1-34 of 34
Spruce Street Capital LP Full Holdings List — 2026 Q1
| Stock | History | Sector / Type | Port % | Prev % | Rank / Prev | Conviction | Change | % Change | Influence | Shares | Mkt Value | Avg Cost | Price Held | 1st Owned | Source | Source Date | Date Reported | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
|
RLMD
RELMADA THERAPE...
|
Healthcare | 10.34% | 6.52% |
#1
3
Prev: #4
|
9.0 |
—
|
2,175,933 | 53.3% |
P
S
|
6,262,114 | $42,998,208 | 2025 Q4 | 13F Filing | 2026-03-31 | 2026-05-14 | |||
|
KNSA
KINIKSA PHARMAC...
|
Healthcare | 8.81% | 5.93% |
#2
4
Prev: #6
|
8.0 |
—
|
326,081 | 75.0% |
P
S
|
761,063 | $36,645,183 | 2025 Q4 | 13F Filing | 2026-03-31 | 2026-05-14 | |||
|
LBRX
LB PHARMACEUTIC...
|
Healthcare | 8.09% | 7.40% |
#3
Prev: #3
|
6.7 |
—
|
370,566 | 36.9% |
P
S
|
1,376,159 | $33,644,866 | 2025 Q4 | 13F Filing | 2026-03-31 | 2026-05-14 | |||
|
DNTH
DIANTHUS THERAP...
|
Healthcare | 7.53% | 4.05% |
#4
6
Prev: #10
|
6.0 |
—
|
75,837 | 25.5% |
P
S
|
373,274 | $31,325,154 | 2025 Q4 | 13F Filing | 2026-03-31 | 2026-05-14 | |||
|
RLAY
RELAY THERAPEUT...
|
Healthcare | 7.14% | 8.34% |
#5
3
Prev: #2
|
4.4 |
—
|
no change | no change |
P
S
|
2,984,125 | $29,692,044 | 2025 Q4 | 13F Filing | 2026-03-31 | 2026-05-14 | |||
|
ANRO
ALTO NEUROSCIEN...
|
Healthcare | 7.00% | 1.31% |
#6
15
Prev: #21
|
5.8 |
—
|
1,102,366 | 494.7% |
P
S
|
1,325,210 | $29,116,321 | 2025 Q4 | 13F Filing | 2026-03-31 | 2026-05-14 | |||
|
CNTA
CENTESSA PHARMA...
|
Healthcare | 4.68% | 0.64% |
#7
16
Prev: #23
|
4.9 |
—
|
411,852 | 528.0% |
P
S
|
489,849 | $19,456,802 | 2025 Q4 | 13F Filing | 2026-03-31 | 2026-05-14 | |||
|
SVRA
SAVARA INC
|
Healthcare | 4.44% | 4.80% |
#8
Prev: #8
|
4.3 |
—
|
972,082 | 40.3% |
P
S
|
3,383,175 | $18,472,136 | 2025 Q4 | 13F Filing | 2026-03-31 | 2026-05-14 | |||
|
KALV
KALVISTA PHARMA...
|
Healthcare | 4.34% | 2.07% |
#9
10
Prev: #19
|
4.7 |
—
|
509,713 | 131.4% |
P
S
|
897,681 | $18,070,319 | 2025 Q4 | 13F Filing | 2026-03-31 | 2026-05-14 | |||
|
PCVX
VAXCYTE INC
|
Healthcare | 3.43% | 6.10% |
#10
5
Prev: #5
|
1.4 |
—
|
-154,651 | -38.6% |
P
S
|
245,709 | $14,278,150 | 2025 Q4 | 13F Filing | 2026-03-31 | 2026-05-14 | |||
|
ELVN
ENLIVEN THERAPE...
|
Healthcare | 3.10% | 2.27% |
#11
4
Prev: #15
|
1.2 |
—
|
-117,078 | -26.2% |
P
S
|
329,006 | $12,897,035 | 2025 Q4 | 13F Filing | 2026-03-31 | 2026-05-14 | |||
|
SRZN
SURROZEN INC CO...
|
Healthcare | 3.03% | 3.23% |
#12
1
Prev: #11
|
2.2 |
—
|
no change | no change |
P
S
|
432,040 | $12,585,325 | 2025 Q4 | 13F Filing | 2026-03-31 | 2026-05-14 | |||
|
ENTA
ENANTA PHARMACE...
|
Healthcare | 2.83% | 2.03% |
#13
7
Prev: #20
|
4.1 |
—
|
542,911 | 139.3% |
P
S
|
932,598 | $11,778,713 | 2025 Q4 | 13F Filing | 2026-03-31 | 2026-05-14 | |||
|
ALKS
ALKERMES PLC
|
Healthcare | 2.70% | — |
#14
Prev: #—
|
4.6 |
—
|
317,992 | — |
NEW
|
317,992 | $11,244,197 | 2026 Q1 | 13F Filing | 2026-03-31 | 2026-05-14 | |||
|
CATX
PERSPECTIVE THE...
|
Healthcare | 2.63% | — |
#15
Prev: #—
|
4.6 |
—
|
2,627,107 | — |
NEW
|
2,627,107 | $10,955,036 | 2026 Q1 | 13F Filing | 2026-03-31 | 2026-05-14 | |||
|
NERV
MINERVA NEUROSC...
|
Healthcare | 2.40% | 2.20% |
#16
Prev: #16
|
2.0 |
—
|
no change | no change |
P
S
|
1,655,500 | $9,974,388 | 2025 Q4 | 13F Filing | 2026-03-31 | 2026-05-14 | |||
|
IPSC
CENTURY THERAPE...
|
Healthcare | 2.21% | 0.47% |
#17
9
Prev: #26
|
3.9 |
—
|
2,637,522 | 185.5% |
P
S
|
4,059,054 | $9,173,462 | 2025 Q4 | 13F Filing | 2026-03-31 | 2026-05-14 | |||
|
ALMS
ALUMIS INC
|
Healthcare | 2.08% | — |
#18
Prev: #—
|
4.3 |
—
|
392,574 | — |
NEW
|
392,574 | $8,648,405 | 2026 Q1 | 13F Filing | 2026-03-31 | 2026-05-14 | |||
|
SABS
SAB BIOTHERAPEU...
|
Healthcare | 2.02% | 2.72% |
#19
6
Prev: #13
|
1.8 |
—
|
no change | no change |
P
S
|
2,198,502 | $8,420,263 | 2025 Q4 | 13F Filing | 2026-03-31 | 2026-05-14 | |||
|
ERAS
ERASCA INC
|
Healthcare | 1.64% | 4.78% |
#20
11
Prev: #9
|
0.7 |
—
|
-3,467,089 | -89.1% |
P
S
|
422,543 | $6,836,746 | 2025 Q4 | 13F Filing | 2026-03-31 | 2026-05-14 | |||
|
IKT
INHIBIKASE THER...
|
Healthcare | 1.45% | 2.43% |
#21
7
Prev: #14
|
1.6 |
—
|
no change | no change |
P
S
|
3,581,603 | $6,017,093 | 2025 Q4 | 13F Filing | 2026-03-31 | 2026-05-14 | |||
|
MAZE
MAZE THERAPEUTI...
|
Healthcare | 1.44% | — |
#22
Prev: #—
|
4.1 |
—
|
200,000 | — |
NEW
|
200,000 | $5,970,000 | 2026 Q1 | 13F Filing | 2026-03-31 | 2026-05-14 | |||
|
ANTX
AN2 THERAPEUTIC...
|
Healthcare | 1.34% | — |
#23
Prev: #—
|
4.0 |
—
|
1,661,073 | — |
NEW
|
1,661,073 | $5,575,870 | 2026 Q1 | 13F Filing | 2026-03-31 | 2026-05-14 | |||
|
LXEO
LEXEO THERAPEUT...
|
Healthcare | 1.28% | 0.57% |
#24
1
Prev: #25
|
3.5 |
—
|
753,593 | 430.6% |
P
S
|
928,593 | $5,330,124 | 2025 Q4 | 13F Filing | 2026-03-31 | 2026-05-14 | |||
|
N/A
HELIX ACQUISITI...
|
|
Unknown | 1.22% | — |
#25
Prev: #—
|
4.0 |
—
|
500,000 | — |
NEW
|
500,000 | $5,080,000 | — | 13F Filing | 2026-03-31 | 2026-05-14 | ||
|
ALEC
ALECTOR INC
|
Healthcare | 1.09% | 0.58% |
#26
2
Prev: #24
|
3.4 |
—
|
983,082 | 87.9% |
P
S
|
2,101,068 | $4,517,296 | 2025 Q4 | 13F Filing | 2026-03-31 | 2026-05-14 | |||
|
LONA
LEONABIO INC
|
Healthcare | 0.92% | 0.98% |
#27
5
Prev: #22
|
1.4 |
—
|
no change | no change |
P
S
|
393,701 | $3,844,884 | 2025 Q4 | 13F Filing | 2026-03-31 | 2026-05-14 | |||
|
CRVS
CORVUS PHARMACE...
|
Healthcare | 0.81% | — |
#28
Prev: #—
|
3.8 |
—
|
231,585 | — |
NEW
|
231,585 | $3,388,089 | 2026 Q1 | 13F Filing | 2026-03-31 | 2026-05-14 | |||
|
STRO
SUTRO BIOPHARMA...
|
Healthcare | 0.00% | 0.29% |
Sold All 😨
(Was: #27) |
0.0 |
—
|
-75,594 | -100.0% |
CLOSED
|
— | $— | 2025 Q4 | 13F Filing | 2026-03-31 | 2026-05-14 | |||
|
CYBN
CYBIN INC
|
Unknown | 0.00% | 2.08% |
Sold All 😨
(Was: #18) |
0.0 |
—
|
-770,000 | -100.0% |
CLOSED
|
— | $— | 2025 Q4 | 13F Filing | 2026-03-31 | 2026-05-14 | |||
|
ABVX
ABIVAX SA
|
Healthcare | 0.00% | 2.19% |
Sold All 😨
(Was: #17) |
0.0 |
—
|
-49,119 | -100.0% |
CLOSED
|
— | $— | 2025 Q4 | 13F Filing | 2026-03-31 | 2026-05-14 | |||
|
OCUL
OCULAR THERAPEU...
|
Healthcare | 0.00% | 3.14% |
Sold All 😨
(Was: #12) |
0.0 |
—
|
-783,999 | -100.0% |
CLOSED
|
— | $— | 2025 Q4 | 13F Filing | 2026-03-31 | 2026-05-14 | |||
|
EYPT
EYEPOINT INC
|
Healthcare | 0.00% | 5.93% |
Sold All 😨
(Was: #7) |
0.0 |
—
|
-981,543 | -100.0% |
CLOSED
|
— | $— | 2025 Q4 | 13F Filing | 2026-03-31 | 2026-05-14 | |||
|
CDTX
CIDARA THERAPEU...
|
Unknown | 0.00% | 16.95% |
Sold All 😨
(Was: #1) |
0.0 |
—
|
-232,269 | -100.0% |
CLOSED
|
— | $— | 2025 Q4 | 13F Filing | 2026-03-31 | 2026-05-14 |
Showing 1-34 of 34 holdings