ARS Pharmaceuticals
SPRY
190 hedge funds and large institutions have $1.05B invested in ARS Pharmaceuticals in 2025 Q4 according to their latest regulatory filings, with 38 funds opening new positions, 58 increasing their positions, 55 reducing their positions, and 34 closing their positions.
200% more funds holding in top 10
Funds holding in top 10: 1 → 3 (+2)
25% more capital invested
Capital invested by funds: $840M → $1.05B (+$210M)
13% more call options, than puts
Call options by funds: $4.58M | Put options by funds: $4.04M
12% more first-time investments, than exits
New positions opened: 38 | Existing positions closed: 34
6.57% more ownership
Funds ownership: 84.63% → 91.2% (+6.6%)
1% more funds holding
Funds holding: 188 → 190 (+2)
5% more repeat investments, than reductions
Existing positions increased: 58 | Existing positions reduced: 55
Top Buyers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
Millennium Management
New York
|
+$30.8M |
| 2 |
TCM
Tyro Capital Management
Miami,
Florida
|
+$19.4M |
| 3 |
RCMNY
Rubric Capital Management (New York)
New York
|
+$16.5M |
| 4 |
UBS Group
Zurich,
Switzerland
|
+$15.1M |
| 5 |
Fidelity International
Hamilton,
Bermuda
|
+$7.88M |
Top Sellers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
AllianceBernstein
Nashville,
Tennessee
|
-$25.1M |
| 2 |
MB
MPM BioImpact
Boston,
Massachusetts
|
-$13.1M |
| 3 |
Qube Research & Technologies (QRT)
London,
United Kingdom
|
-$10.4M |
| 4 |
EP
Eversept Partners
New York
|
-$7.05M |
| 5 |
KPF
K2 Principal Fund
Toronto,
Ontario, Canada
|
-$5.95M |
SPRY Hedge Fund Activity: Q4 2025 in Review
190 of the 8,270 institutional investors tracked by Wall St. Rank reported a position in ARS Pharmaceuticals (SPRY) for Q4 2025, worth a combined $1.05B — up 25% from $840M a quarter earlier.
Buyers outnumbered sellers: 38 funds opened new SPRY positions and 34 closed out — a net gain of 4 holders — while 58 added to existing stakes and 55 trimmed.
The largest buyer was Millennium Management, opening a new position worth an estimated $30.8M. The largest seller was AllianceBernstein, cutting an estimated $25.1M.
- 190 institutional investors held ARS Pharmaceuticals (SPRY) as of Q4 2025, up from 188 in Q3 2025.
- Funds reported $1.05B of ARS Pharmaceuticals stock for Q4 2025, up 25% quarter-over-quarter.
- 38 funds opened new ARS Pharmaceuticals positions in Q4 2025 and 34 closed out, a net change of +4 holders.
- The largest ARS Pharmaceuticals buyer in Q4 2025 was Millennium Management, an estimated $30.8M added.
- The largest ARS Pharmaceuticals seller in Q4 2025 was AllianceBernstein, an estimated $25.1M sold.
Based on aggregated 13F filings for Q4 2025.