Spruce Street Capital LP Diversified Active

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
ALKS	ALKERMES PLC	317,992	$11,244	2.7%	$32.34	0.0%	SHS	G01767105
CATX	PERSPECTIVE THERAPEUTICS	2,627,107	$10,955	2.6%	$3.84	0.0%	COM NEW	46489V302
ALMS	ALUMIS INC	392,574	$8,648	2.1%	$24.33	0.0%	COM	022307102
MAZE	MAZE THERAPEUTICS INC	200,000	$5,970	1.4%	$44.04	0.0%	COM	578784100
ANTX	AN2 THERAPEUTICS INC	1,661,073	$5,576	1.3%	$1.13	0.0%	COM	037326105
HLXC	HELIX ACQUISITION CORP III	500,000	$5,080	1.2%	$10.16	—	USD CL A ORD SHS	G4444S107
CRVS	CORVUS PHARMACEUTICALS I	231,585	$3,388	0.8%	$16.29	0.0%	COM	221015100

Increased Positions (12)

ANRO ALTO NEUROSCIENCE INC 7.0%

Value ($000) $29,116 (+634.0%) Shares 1,325,210 (+494.7%) Est. Cost $16.06 Unrealized +4.4%

RLMD RELMADA THERAPEUTICS INC 10.3%

Value ($000) $42,998 (+117.9%) Shares 6,262,114 (+53.3%) Est. Cost $3.58 Unrealized +12.1%

DNTH DIANTHUS THERAPEUTICS IN 7.5%

Value ($000) $31,325 (+155.6%) Shares 373,274 (+25.5%) Est. Cost $40.56 Unrealized +17.3%

KNSA KINIKSA PHARMACEUTICALS I 8.8%

Value ($000) $36,645 (+104.2%) Shares 761,063 (+75.0%) Est. Cost $41.42 Unrealized +4.2%

CNTA CENTESSA PHARMACEUTICALS 4.7%

Value ($000) $19,457 (+897.4%) Shares 489,849 (+528.0%) Est. Cost $37.38 Unrealized —

KALV KALVISTA PHARMACEUTICALS 4.3%

Value ($000) $18,070 (+188.4%) Shares 897,681 (+131.4%) Est. Cost $14.52 Unrealized +6.7%

LBRX LB PHARMACEUTICALS INC 8.1%

Value ($000) $33,645 (+50.3%) Shares 1,376,159 (+36.9%) Est. Cost $18.79 Unrealized +19.1%

IPSC CENTURY THERAPEUTICS 2.2%

Value ($000) $9,173 (+548.7%) Shares 4,059,054 (+185.5%) Est. Cost $1.47 Unrealized +31.5%

ENTA ENANTA PHARMACEUTICALS I 2.8%

Value ($000) $11,779 (+91.7%) Shares 932,598 (+139.3%) Est. Cost $13.16 Unrealized +2.5%

SVRA SAVARA INC 4.4%

Value ($000) $18,472 (+27.1%) Shares 3,383,175 (+40.3%) Est. Cost $5.13 Unrealized +11.1%

LXEO LEXEO THERAPEUTICS INC 1.3%

Value ($000) $5,330 (+206.7%) Shares 928,593 (+430.6%) Est. Cost $7.83 Unrealized -3.8%

ALEC ALECTOR INC 1.1%

Value ($000) $4,517 (+159.0%) Shares 2,101,068 (+87.9%) Est. Cost $1.84 Unrealized +3.8%

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
ANRO	ALTO NEUROSCIENCE INC	1,325,210 (+494.7%)	$29,116 (+634.0%)	7.0%	$16.06	+4.4%	COM SHS	02157Q109
RLMD	RELMADA THERAPEUTICS INC	6,262,114 (+53.3%)	$42,998 (+117.9%)	10.3%	$3.58	+12.1%	COM	75955J402
DNTH	DIANTHUS THERAPEUTICS IN	373,274 (+25.5%)	$31,325 (+155.6%)	7.5%	$40.56	+17.3%	COM	252828108
KNSA	KINIKSA PHARMACEUTICALS I	761,063 (+75.0%)	$36,645 (+104.2%)	8.8%	$41.42	+4.2%	ORD SHS CL A	G52694109
CNTA	CENTESSA PHARMACEUTICALS	489,849 (+528.0%)	$19,457 (+897.4%)	4.7%	$37.38	—	SPONSORED ADS	152309100
KALV	KALVISTA PHARMACEUTICALS	897,681 (+131.4%)	$18,070 (+188.4%)	4.3%	$14.52	+6.7%	COM	483497103
LBRX	LB PHARMACEUTICALS INC	1,376,159 (+36.9%)	$33,645 (+50.3%)	8.1%	$18.79	+19.1%	COM SHS	50180M108
IPSC	CENTURY THERAPEUTICS	4,059,054 (+185.5%)	$9,173 (+548.7%)	2.2%	$1.47	+31.5%	COM	15673T100
ENTA	ENANTA PHARMACEUTICALS I	932,598 (+139.3%)	$11,779 (+91.7%)	2.8%	$13.16	+2.5%	COM	29251M106
SVRA	SAVARA INC	3,383,175 (+40.3%)	$18,472 (+27.1%)	4.4%	$5.13	+11.1%	COM	805111101
LXEO	LEXEO THERAPEUTICS INC	928,593 (+430.6%)	$5,330 (+206.7%)	1.3%	$7.83	-3.8%	COM	52886X107
ALEC	ALECTOR INC	2,101,068 (+87.9%)	$4,517 (+159.0%)	1.1%	$1.84	+3.8%	COM	014442107

Exited Positions (6)

— CIDARA THERAPEUTICS INC 12.3%

Value ($000) $51,306 Shares 232,269 Est. Cost $220.89 Unrealized —

EYPT EYEPOINT INC 4.3%

Value ($000) $17,933 Shares 981,543 Est. Cost $14.17 Unrealized +7.4%

OCUL OCULAR THERAPEUTIX INC 2.3%

Value ($000) $9,518 Shares 783,999 Est. Cost $12.15 Unrealized -19.1%

ABVX ABIVAX SA 1.6%

Value ($000) $6,624 Shares 49,119 Est. Cost $134.86 Unrealized —

HELP CYBIN INC 1.5%

Value ($000) $6,299 Shares 770,000 Est. Cost $6.44 Unrealized +10.4%

STRO SUTRO BIOPHARMA INC 0.2%

Value ($000) $875 Shares 75,594 Est. Cost $9.49 Unrealized +58.9%

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
—	CIDARA THERAPEUTICS INC	232,269	$51,306	12.3%	$220.89	—	—	171757206
EYPT	EYEPOINT INC	981,543	$17,933	4.3%	$14.17	+7.4%	—	30233G209
OCUL	OCULAR THERAPEUTIX INC	783,999	$9,518	2.3%	$12.15	-19.1%	—	67576A100
ABVX	ABIVAX SA	49,119	$6,624	1.6%	$134.86	—	—	00370M103
HELP	CYBIN INC	770,000	$6,299	1.5%	$6.44	+10.4%	—	23256X407
STRO	SUTRO BIOPHARMA INC	75,594	$875	0.2%	$9.49	+58.9%	—	869367201

Decreased Positions (3)

ERAS ERASCA INC 1.6%

Value ($000) $6,837 (-52.8%) Shares 422,543 (-89.1%) Est. Cost $2.81 Unrealized +256.4%

ELVN ENLIVEN THERAPEUTICS INC 3.1%

Value ($000) $12,897 (+87.7%) Shares 329,006 (-26.2%) Est. Cost $19.92 Unrealized +28.5%

PCVX VAXCYTE INC 3.4%

Value ($000) $14,278 (-22.7%) Shares 245,709 (-38.6%) Est. Cost $44.73 Unrealized +18.0%

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
ERAS	ERASCA INC	422,543 (-89.1%)	$6,837 (-52.8%)	1.6%	$2.81	+256.4%	COM	29479A108
ELVN	ENLIVEN THERAPEUTICS INC	329,006 (-26.2%)	$12,897 (+87.7%)	3.1%	$19.92	+28.5%	COM	29337E102
PCVX	VAXCYTE INC	245,709 (-38.6%)	$14,278 (-22.7%)	3.4%	$44.73	+18.0%	COM	92243G108

Unchanged Positions (6)

RLAY RELAY THERAPEUTICS INC 7.1%

Value ($000) $29,692 Shares 2,984,125 Est. Cost $7.14 Unrealized +16.3%

NERV MINERVA NEUROSCIENC 2.4%

Value ($000) $9,974 Shares 1,655,500 Est. Cost $3.71 Unrealized +33.7%

SRZN SURROZEN INC COM NEW 3.0%

Value ($000) $12,585 Shares 432,040 Est. Cost $16.18 Unrealized +37.4%

IKT INHIBIKASE THERAPEUTI 1.4%

Value ($000) $6,017 Shares 3,581,603 Est. Cost $1.59 Unrealized +9.0%

LONA LEONABIO INC 0.9%

Value ($000) $3,845 Shares 393,701 Est. Cost $4.58 Unrealized +22.8%

SABS SAB BIOTHERAPEUTICS IN 2.0%

Value ($000) $8,420 Shares 2,198,502 Est. Cost $3.29 Unrealized +21.6%

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
RLAY	RELAY THERAPEUTICS INC	2,984,125	$29,692	7.1%	$7.14	+16.3%	COM	75943R102
NERV	MINERVA NEUROSCIENC	1,655,500	$9,974	2.4%	$3.71	+33.7%	COM NEW	603380205
SRZN	SURROZEN INC COM NEW	432,040	$12,585	3.0%	$16.18	+37.4%	COM NEW	86889P208
IKT	INHIBIKASE THERAPEUTI	3,581,603	$6,017	1.4%	$1.59	+9.0%	COM NEW	45719W205
LONA	LEONABIO INC	393,701	$3,845	0.9%	$4.58	+22.8%	COM	04746L203
SABS	SAB BIOTHERAPEUTICS IN	2,198,502	$8,420	2.0%	$3.29	+21.6%	COM NEW	78397T202