ARS Pharmaceuticals
SPRY
188 hedge funds and large institutions have $840M invested in ARS Pharmaceuticals in 2025 Q3 according to their latest regulatory filings, with 43 funds opening new positions, 69 increasing their positions, 44 reducing their positions, and 42 closing their positions.
81% more call options, than puts
Call options by funds: $13.5M | Put options by funds: $7.46M
57% more repeat investments, than reductions
Existing positions increased: 69 | Existing positions reduced: 44
2% more first-time investments, than exits
New positions opened: 43 | Existing positions closed: 42
1% more funds holding
Funds holding: 187 → 188 (+1)
1.43% less ownership
Funds ownership: 86.06% → 84.63% (-1.4%)
43% less capital invested
Capital invested by funds: $1.48B → $840M (-$635M)
88% less funds holding in top 10
Funds holding in top 10: 8 → 1 (-7)
Top Buyers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
RCMNY
Rubric Capital Management (New York)
New York
|
+$46M |
| 2 |
CC
Casdin Capital
New York
|
+$23M |
| 3 |
Aberdeen Group
Edinburgh,
United Kingdom
|
+$22.9M |
| 4 |
BAMCO Inc
New York
|
+$17.6M |
| 5 |
Qube Research & Technologies (QRT)
London,
United Kingdom
|
+$14.9M |
Top Sellers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
DM
Deerfield Management
New York
|
-$31.9M |
| 2 |
Adage Capital Partners
Boston,
Massachusetts
|
-$30.2M |
| 3 |
Wellington Management Group
Boston,
Massachusetts
|
-$25M |
| 4 |
OCA
Octagon Capital Advisors
New York
|
-$23.6M |
| 5 |
CAM
Cormorant Asset Management
Boston,
Massachusetts
|
-$19.2M |
SPRY Hedge Fund Activity: Q3 2025 in Review
188 of the 7,621 institutional investors tracked by Wall St. Rank reported a position in ARS Pharmaceuticals (SPRY) for Q3 2025, worth a combined $840M — down 43% from $1.48B a quarter earlier.
Buyers outnumbered sellers: 43 funds opened new SPRY positions and 42 closed out — a net gain of 1 holder — while 69 added to existing stakes and 44 trimmed.
The largest buyer was Rubric Capital Management (New York), adding an estimated $46M. The largest seller was Deerfield Management, cutting an estimated $31.9M.
- 188 institutional investors held ARS Pharmaceuticals (SPRY) as of Q3 2025, up from 187 in Q2 2025.
- Funds reported $840M of ARS Pharmaceuticals stock for Q3 2025, down 43% quarter-over-quarter.
- 43 funds opened new ARS Pharmaceuticals positions in Q3 2025 and 42 closed out, a net change of +1 holder.
- The largest ARS Pharmaceuticals buyer in Q3 2025 was Rubric Capital Management (New York), an estimated $46M added.
- The largest ARS Pharmaceuticals seller in Q3 2025 was Deerfield Management, an estimated $31.9M sold.
Based on aggregated 13F filings for Q3 2025.