Spruce Point Capital Management, LLC

Portfolio Overview

Spruce Point Capital Management, LLC disclosed 24 positions worth $90.9M in its Form 13F-HR for Q1 2026 — $74.8M in common stock plus $16.1M of put/call option positions (reported at underlying notional value, not premium at risk), followed by $BG. During the quarter the fund opened 7 new positions and exited 2 — including a new stake in $BG and a full exit from $SPY. The portfolio is most concentrated in Other (92.7% of disclosed assets). All figures are sourced directly from Spruce Point Capital Management, LLC’s Form 13F-HR filing with the SEC under CIK 1731579.

• VANECK ETF TRUST

  —

  Quality

  $13.4M158,020 sh
• 

  Bunge Global SA

  $BG PUT

  55.9#1,136

  Quality

  $11.5M90,400 sh

• VANECK ETF TRUST

  —

  Quality

  $10.2M116,164 sh
• 

  SPDR S&P 500 ETF TRUST

  $SPY

  —

  Quality

  $9.8M15,000 sh

• SELECT SECTOR SPDR TR

  —

  Quality

  $9.0M110,000 sh

• ISHARES TR

  —

  Quality

  $6.9M28,000 sh

• VANECK ETF TRUST

  —

  Quality

  $5.4M44,880 sh

• ISHARES TR

  —

  Quality

  $3.3M94,000 sh
• 

  INVESCO QQQ TRUST, SERIES 1

  $QQQ

  —

  Quality

  $2.9M5,000 sh
• 

  Bunge Global SA

  $BG CALL

  55.9

  Quality

  $2.6M20,300 sh

Company	Quality	Value	Shares
VANECK ETF TRUST	—	$13.4M	158,020
Bunge Global SA$BGPUT	55.9#1,136	$11.5M	90,400
VANECK ETF TRUST	—	$10.2M	116,164
SPDR S&P 500 ETF TRUST$SPY	—	$9.8M	15,000
SELECT SECTOR SPDR TR	—	$9.0M	110,000
ISHARES TR	—	$6.9M	28,000
VANECK ETF TRUST	—	$5.4M	44,880
ISHARES TR	—	$3.3M	94,000
INVESCO QQQ TRUST, SERIES 1$QQQ	—	$2.9M	5,000
Bunge Global SA$BGCALL	55.9	$2.6M	20,300

Showing top 10 of 24 holdings.

Full Holdings — Spruce Point Capital Management, LLC (Q1 2026)

All 24 disclosed positions from the latest Form 13F-HR, with quarter-over-quarter share changes and 13F Pro quality scores. Sourced from SEC EDGAR.

#	Ticker	Company	Value	Weight	QoQ	Quality
1	—	VANECK ETF TRUST	$13.4M	17.9%	+96%	—
2	$BGPUT	Bunge Global SA	$11.5M	—	NEW	55.9
3	—	VANECK ETF TRUST	$10.2M	13.7%	+44%	—
4	$SPY	SPDR S&P 500 ETF TRUST	$9.8M	13.0%	+17%	—
5	—	SELECT SECTOR SPDR TR	$9.0M	12.1%	+400%	—
6	—	ISHARES TR	$6.9M	9.3%	+133%	—
7	—	VANECK ETF TRUST	$5.4M	7.2%	-44%	—
8	—	ISHARES TR	$3.3M	4.4%	-12%	—
9	$QQQ	INVESCO QQQ TRUST, SERIES 1	$2.9M	3.9%	-64%	—
10	$BGCALL	Bunge Global SA	$2.6M	—	NEW	55.9
11	—	VANECK ETF TRUST	$2.4M	3.2%	-67%	—
12	$SII	SPROTT INC.	$2.3M	3.1%	+147%	—
13	—	ISHARES INC	$2.3M	3.0%	-46%	—
14	$ADM	Archer-Daniels-Midland Co	$1.8M	2.5%	NEW	49.4
15	—	ISHARES INC	$1.1M	1.5%	-56%	—
16	—	SELECT SECTOR SPDR TR	$1.0M	1.4%	-71%	—
17	—	VANECK ETF TRUST	$960,320	—	NEW	—
18	$WCC	WESCO INTERNATIONAL INC	$930,582	1.2%	NEW	55.4
19	—	ISHARES TR	$711,060	0.9%	-61%	—
20	$SGHCCALL	Super Group (SGHC) Ltd	$624,240	—	NEW	—
21	—	FIRST TR EXCHANGE TRADED FD	$481,561	0.6%	+0%	—
22	—	ISHARES TR	$462,520	0.6%	-27%	—
23	$NVAPUT	Nova Minerals Corp	$446,707	—	NEW	—
24	$YMM	Full Truck Alliance Co. Ltd.	$387,440	0.5%	-76%	—