Stock Analysis
Data Source: SEC EDGAR 13F
Updated Hourly

Ars Pharmaceuticals Inc (SPRY)

197 + Investors. Track Smart Money conviction in SPRY. See who's accumulating, reducing, or initiating positions.

Current Price
-- USD
Analyst Target
-- (0 analysts)
Upside
0.00%
Net Flow Q/Q
↑ +11
Streak
1Q ▲
Buyers last Q
54%

Smart Money Signals — SPRY

Based on 199 hedge funds · latest filing: 2026 Q1 · updated quarterly

📈

Buying streak — 1 quarter in a row

last 6Q
For 1 consecutive quarter, more hedge funds added SPRY than sold it. That's a consistent pattern of professional buying — not a one-time trade. When institutions keep buying quarter after quarter, it usually means they see a multi-year opportunity, not just a short-term momentum flip.
🏔️

At the ownership peak (100% of max)

100% of all-time peak
199 hedge funds hold SPRY right now — the highest count in 3.0 years. When ownership is this concentrated, any bad news can trigger a chain reaction: one big fund sells, others follow. This is a classic 'crowded trade' — high popularity doesn't equal safety.
📶

Steady growth — +9% more funds vs a year ago

fund count last 6Q
+16 new funds entered over the past year (+9% YoY). Gradual, steady growth in institutional ownership is generally a healthy signal — not a speculative rush, but consistent conviction.
🟡

Slight buying edge — 54% buying

102 buying86 selling
Last quarter: 102 funds bought or added vs 86 that reduced or exited. It's nearly a 50/50 split — some institutions are convinced, others are taking profits. This mixed picture is normal near price highs.
📈

More new buyers each quarter (+6 vs last Q)

new funds entering per quarter
Funds opening a new SPRY position: 32 → 41 → 34 → 40. A growing influx of new institutional buyers means the asset is still gathering momentum — the consensus hasn't fully saturated yet.
📌

Mixed — 37% long-term, 29% new

■ 37% conviction (2yr+) ■ 35% medium ■ 29% new
Of the 199 current holders: 73 (37%) held >2 years, 69 held 1–2 years, and 57 entered in the last year. A mixed base — the stock has long-term believers but also recent buyers who haven't been tested by a downturn yet.
💎

Buying through price weakness — shares +4%, value -30%

Value
-29%
Shares
+4%
Last quarter: funds added +4% more shares while total portfolio value only changed -30%. Institutions were buying while the price was falling — a high-conviction accumulation signal. They're deliberately loading up on the dip.
➡️

Steady discovery — ~40 new funds/quarter

41 → 32 → 41 → 34 → 40 new funds/Q
New funds entering each quarter: 32 → 41 → 34 → 40. Consistent flow of new institutional buyers without clear acceleration or slowdown.
🏛️

Deep conviction — 43% of holders stayed 2+ years

■ 43% veterans ■ 19% 1-2yr ■ 38% new
Of 204 current holders: 88 (43%) have held for over 2 years without selling. These are not momentum buyers — they have lived through drawdowns and stayed. A large veteran base acts as a stabilizing force during selloffs.
✅

Strong quality — 27% AUM from major funds

27% from top-100 AUM funds
42 of 199 holders rank in the top 100 by AUM, accounting for 27% of total institutional value held. A meaningful share of the ownership value comes from the most well-resourced institutions.
3.8
out of 10
Low Exit Risk
Exit risk score 3.8/10 — low institutional crowding. Ownership is below peak levels, holder base is relatively sticky, and buying momentum is positive.

Methodology note: these Smart Money cards use consecutive 13F disclosure snapshots, not trade-by-trade execution data. "Buying", "selling", "new holders", and "trimmed" refer to quarter-over-quarter changes in reported holders, aggregate shares, or disclosed position values between filings. They are useful for ownership regime analysis and crowding, but they do not imply exact trade timing on the filing date.

Institutional Sentiment Summary — SPRY

In 2026 Q1, 102 hedge funds were net buyers of SPRY (40 opened a new position, 62 added to an existing one), while 86 reduced or exited (57 trimmed, 29 sold completely) — a 54% buyer ratio, indicating a slight buying edge. 27% of total institutional value in SPRY is held by top-100 AUM funds, reflecting strong institutional quality. Net fund flow last quarter: +11 funds (more new holders than closures). Total institutional holders: 199.

Hedge Fund Ownership: SPRY

How many hedge funds hold SPRY — quarterly history vs. share price
Quarterly hedge fund ownership of SPRY vs. share price

Market Analysis: SPRY

Analyst Price Targets

Avg. Price Target
--

Analyst Recommendations

Stock Performance

Real-time

Company Profile: SPRY

-- --

Institutional ownership data sourced from SEC EDGAR Form 13F-HR filings.

Is It Too Late to Buy Ars Pharmaceuticals Inc (SPRY) Based on Hedge Fund 13F Filings?

Signal Freshness measures how much SPRY has moved relative to its sector benchmark (XLV) since the 2026 Q1 13F filing. A stock that has barely outrun its sector is still a relatively fresh entry point — the fund's thesis has not yet been priced in by the broader market.

Since Quarter End March 31, 2026 · 75d ago
SPRY
+21.5%
XLV
+4.9%

SPRY outperformed XLV by +16.6% since March 31, 2026.

Since 13F Filing Date May 15, 2026 · 30d ago
SPRY
+31.4%
XLV
+6.0%

Since the filing became public, SPRY outperformed XLV by +25.4% .

Interpretation: The stock has significantly outperformed its sector benchmark — the original entry opportunity has largely been captured by earlier investors. Learn more →

Smart Money Signal ?
Limited Smart Money Interest

No strong consensus or elite conviction detected among institutional holders.

21 top-rated funds 1 high-conviction
Consensus
5.8
/ 10
breadth
×
Elite
1.7
/ 10
conviction
Hedge Fund Positioning: SPRY
197 + Investors

Track Smart Money conviction in SPRY. See who's accumulating, reducing, or initiating positions.

Metric All 13F Filers (2026 Q1) Prior (2025 Q4) Change
Funds Holding 197 188 4.79%
13F Shares 93M 90M 4.06%
Total Value $732M $1.04B -29.79%
New Positions 38 34 +4
Increased Positions 60 57 +3
Closed Positions 29 36 -7
Reduced Positions 56 58 -2
Total Calls 4 4 -
Total Puts 2 2 -
PUT/CALL Ratio 0.5 0.5 Bullish

Statistics: SPRY

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Valuation Measures Data as of: --

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PEG Ratio (5yr expected) --
Price/Sales (ttm) --
Price/Book (mrq) --
Enterprise Value/Revenue --
Enterprise Value/EBITDA --
Beta (5Y Monthly) --
Short Ratio (Days to Cover) --
Short % of Float --

Financial Highlights

Profitability
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Total Cash (mrq) --
Total Debt/Equity (mrq) --
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Institutional Holders (2026 Q1)

197 + investors

Explore institutional interest and hedge fund ownership dynamics. Analyze portfolio weights, new positions, and conviction trends in SPRY. Verified SEC 13F-HR filings.

QUARTER:
Top 25 SPRY holders by conviction (% of portfolio weight) — 2026 Q1 · Source: SEC Form 13F
# Investor % of Portfolio Shares Mkt Value
1 Sr One Capital Management, LP 3.52% 4,012,903 $32.2M
2 Tyro Capital Management LLC 2.59% 2,968,599 $23.8M
3 Orbimed Advisors LLC 1.32% 8,288,510 $66.6M
4 Ra Capital Management, L.P. 0.92% 10,860,977 $87.2M
5 Deerfield Management Company, L.P. 0.71% 7,503,812 $60.3M
6 Investment Management Associates Inc /Adv 0.69% 359,074 $2.9M
7 Rubric Capital Management LP 0.68% 8,000,000 $64.2M
8 ADAR1 Capital Management, LLC 0.64% 1,361,536 $10.9M
9 Sectoral Asset Management Inc 0.56% 79,150 $677K
10 Tejara Capital Ltd 0.56% 210,400 $1.7M
11 Third Point LLC 0.39% 1,000,000 $8.0M
12 General American Investors Co Inc 0.38% 727,154 $5.8M
13 Nextech Invest, Ltd. 0.35% 610,703 $4.9M
14 Levin Capital Strategies, L.P. 0.34% 552,561 $4.4M
15 K2 Principal Fund, L.P. 0.31% 559,697 $4.5M
16 DAFNA Capital Management LLC 0.25% 139,285 $1.1M
17 Empire Life Investments Inc. 0.25% 499,150 $4.0M
18 Diker Management LLC 0.24% 33,508 $269K
19 Matisse Capital 0.23% 67,229 $540K
20 Valley Forge Investment Consultants Inc Adv 0.20% 83,225 $668K
21 Nano Cap New Millennium Growth Fund L P 0.19% 25,000 $201K
22 Schulhoff & Co Inc 0.17% 51,150 $411K
23 Wexford Capital LP 0.15% 130,313 $1.0M
24 CenterBook Partners LP 0.13% 291,179 $2.3M
25 Tannin Capital LLC 0.11% 18,593 $149K
Investor Ownership
History 		% of Portfolio Prev % Rank Conviction Avg Buy Price 13F Score™ 3Y / 7Y Sell Timing Shares Mkt Value Change Change % Source Quarter Filed

Frequently Asked Questions — Ars Pharmaceuticals Inc (SPRY)

What does the Smart Money Trend signal show for SPRY?

Buying streak — 1 quarter in a row: For 1 consecutive quarter, more hedge funds added SPRY than sold it. That's a consistent pattern of professional buying — not a one-time trade. When institutions keep buying quarter after quarter, it usually means they see a multi-year opportunity, not just a short-term momentum flip.

What is the institutional breadth score for SPRY?

Slight buying edge — 54% buying: Last quarter: 102 funds bought or added vs 86 that reduced or exited. It's nearly a 50/50 split — some institutions are convinced, others are taking profits. This mixed picture is normal near price highs.

What is the fund quality score for SPRY holders?

Strong quality — 27% AUM from major funds: 42 of 199 holders rank in the top 100 by AUM, accounting for 27% of total institutional value held. A meaningful share of the ownership value comes from the most well-resourced institutions.

How long have hedge funds held SPRY?

Mixed — 37% long-term, 29% new: Of the 199 current holders: 73 (37%) held >2 years, 69 held 1–2 years, and 57 entered in the last year. A mixed base — the stock has long-term believers but also recent buyers who haven't been tested by a downturn yet.

Is it too late to buy Ars Pharmaceuticals Inc (SPRY) following the 2026 Q1 hedge fund 13F filings?

As of today, SPRY has moved +31.4% since the 2026 Q1 13F filing date (May 15, 2026), compared to +6.0% for the XLV sector ETF — an outperformance of +25.4%. Since the quarter end (March 31, 2026), SPRY has gained +21.5% vs +4.9% for XLV. The stock has significantly outperformed its sector benchmark — the original entry opportunity has largely been captured by earlier investors.

Where does this institutional ownership data come from?

All holdings data is sourced from SEC Form 13F filings, which institutional investment managers with over $100 million in assets are required to submit quarterly. Data is parsed directly from SEC EDGAR.

Disclaimer: The information on this page is for informational purposes only and does not constitute investment advice, a recommendation, or an offer to buy or sell any security. Institutional holdings data is sourced from SEC Form 13F filings and reflects positions as of the filing date. Past performance of any fund or portfolio is not indicative of future results. 13Foresight is not a registered investment adviser. Always conduct your own due diligence before making investment decisions.

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