SPRY
ARS Pharmaceuticals, Inc. · Healthcare · Biotechnology
Momentum inputs (comparable managers):
holder breadth -23.5% ·
share flow -18.0% ·
net new positions -20.0%
— formula
Broad distribution — falling shares and fewer holders
All ownership figures: tracked 13F managers only, common-stock positions, reporting period Q3 2025
| Quarter | Holders | Δ | Shares | Reported value | New | Exits |
|---|---|---|---|---|---|---|
| Q2 2026 | 74 | +2 | 32.52M | $260.74M | +9 | −8 |
| Q1 2026 | 76 | +2 | 39.92M | $320.66M | +9 | −7 |
| Q4 2025 | 74 | +1 | 37.60M | $438.08M | +2 | −1 |
| Q3 2025 | 13 | -4 | 17.49M | $175.83M | +1 | −5 |
| Q2 2025 | 14 | 0 | 19.24M | $335.74M | +1 | −1 |
| Q1 2025 | 11 | +2 | 5.28M | $66.41M | +2 | — |
| Q4 2024 | 9 | -2 | 6.14M | $64.82M | — | −2 |
| Q3 2024 | 10 | +2 | 3.52M | $51.10M | +3 | −1 |
| Q2 2024 | 8 | — | 1.67M | $14.24M | — | — |
| # | Manager | Shares | Δ shares | Value | Their weight | Held | ||
|---|---|---|---|---|---|---|---|---|
| 1 | BlackRock ✦ (passive) | 4.83M | +9.2% | $48.55M | 0.0% | ▲ Add | 2 | SEC ↗ ×11 |
| 2 | The Vanguard Group ✦ (passive) | 3.50M | +7.3% | $35.18M | 0.0% | ▲ Add | 2 | SEC ↗ ×5 |
| 3 | State Street Global Advisors ✦ (passive) | 2.90M | +31.9% | $29.10M | 0.0% | ▲ Add | 4 | SEC ↗ |
| 4 | Citadel Advisors ✦ | 1.59M | -29.3% | $15.94M | 0.0% | ▼ Trim | 6 | SEC ↗ ×2 |
| 5 | Geode Capital Management ✦ (passive) | 1.51M | +12.2% | $15.13M | 0.0% | ▲ Add | 6 | SEC ↗ ×2 |
| 6 | Goldman Sachs Group ✦ | 1.33M | — | $13.32M | 0.0% | n/c | 1 | SEC ↗ ×2 |
| 7 | Fidelity (FMR) ✦ | 742.51K | -52.6% | $7.46M | 0.0% | ▼ Trim | 2 | SEC ↗ ×2 |
| 8 | Morgan Stanley ✦ | 700.41K | — | $7.04M | 0.0% | n/c | 1 | SEC ↗ ×6 |
| 9 | Marshall Wace ✦ | 197.32K | +394.4% | $1.98M | 0.0% | ▲ Add | 5 | SEC ↗ ×3 |
| 10 | Two Sigma Investments ✦ | 72.18K | New | $725,379 | 0.0% | New | 1 | SEC ↗ |
| 11 | JPMorgan Chase ✦ | 70.12K | — | $704,686 | 0.0% | n/c | 1 | SEC ↗ ×8 |
| 12 | D. E. Shaw & Co. ✦ | 34.22K | -40.4% | $343,901 | 0.0% | ▼ Trim | 6 | SEC ↗ ×2 |
| 13 | T. Rowe Price ✦ | 33.79K | +23.4% | $340,000 | 0.0% | ▲ Add | 6 | SEC ↗ |
“Their weight” = the position's share of that manager's reported 13F equity value — the conviction measure. ✦ = curated manager.
New buyers
| Two Sigma Investments | $725,379 | 0.0% |
Exited
| Adage Capital Partners | $30.15M | was 0.1% |
| Wellington Management | $25.01M | was 0.0% |
| Millennium Management | $15.32M | was 0.0% |
| Gotham Asset Management | $475,617 | was 0.0% |
| AQR Capital Management | $281,503 | was 0.0% |
Full-market context: across ALL 13F filers (SEC structured data, Q1 2026): 201 holders, 92.94M shares, $730.00M reported. This is a different, older period than the tracked-universe figures above and the two are never mixed.
What else this security's tracked holders most often hold — shared-ownership counts, not fundamental relationships.