Stock Analysis
Data Source: SEC EDGAR 13F
Updated Hourly

ARS PHARMACEUTICALS INC (SPRY)

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

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Current Price
-- USD
Analyst Target
-- (0 analysts)
Upside
0.00%
Net Flow Q/Q
↓ -2
Streak
1Q ▼
Buyers last Q
49%

Smart Money Signals — SPRY

Based on 181 hedge funds · latest filing: 2025 Q4 · updated quarterly

📉

Selling streak — 1 quarter in a row

last 6Q
For 1 consecutive quarter, more hedge funds reduced or closed their SPRY positions than added to them. Sustained institutional selling is a meaningful warning sign — these are professionals with deep research teams collectively deciding to exit.
🏔️

At the ownership peak (99% of max)

99% of all-time peak
181 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 — +13% more funds vs a year ago

fund count last 6Q
+21 new funds entered over the past year (+13% YoY). Gradual, steady growth in institutional ownership is generally a healthy signal — not a speculative rush, but consistent conviction.
🟠

More sellers than buyers — 49% buying

89 buying93 selling
Last quarter: 93 funds reduced or exited vs 89 that bought or added. When more than half of active funds are selling, it's a caution flag — especially if the stock price hasn't moved down yet.
⚠️

Fewer new buyers each quarter (-8 vs last Q)

new funds entering per quarter
Funds opening this position for the first time: 40 → 30 → 41 → 33. Each quarter fewer new institutions are entering. This usually means most funds that wanted in are already in — the stock is well-known but the pool of potential new buyers is shrinking.
📌

Mixed — 38% long-term, 27% new

38% conviction (2yr+) 35% medium 27% new
Of the 181 current holders: 69 (38%) held >2 years, 63 held 1–2 years, and 49 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.
💰

Value +22% but shares only +5% — price-driven

Value
+21%
Shares
+4%
Last quarter: the total dollar value of institutional holdings rose +22%, but actual share count only changed +5%. The gap is explained by the stock's price rising — not new buying. Strong value growth with weak share growth means the rally is price momentum, not fresh institutional demand.
➡️

Steady discovery — ~33 new funds/quarter

33 → 40 → 30 → 41 → 33 new funds/Q
New funds entering each quarter: 40 → 30 → 41 → 33. Consistent flow of new institutional buyers without clear acceleration or slowdown.
🏛️

Deep conviction — 45% of holders stayed 2+ years

45% veterans 16% 1-2yr 39% new
Of 185 current holders: 84 (45%) 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 — 22% AUM from major funds

22% from top-100 AUM funds
30 of 181 holders rank in the top 100 by AUM, accounting for 22% 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.

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

-- --
Smart Money Signal ?
Limited Smart Money Interest

No strong consensus or elite conviction detected among institutional holders.

33 top-rated funds 3 high-conviction
Consensus
6.6
/ 10
breadth
×
Elite
2.8
/ 10
conviction
Hedge Fund Positioning: SPRY
2026 Q1 Stats Unlock in 22 days 185 + Investors

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

Metric All 13F Filers (2025 Q4) Prior (2025 Q3) Change
Funds Holding 185 191 -3.14%
13F Shares 89M 85M 4.84%
Total Value $1.04B $857M 21.52%
New Positions 33 42 -9
Increased Positions 60 78 -18
Closed Positions 38 40 -2
Reduced Positions 67 53 +14
Total Calls 4 7 -42.86%
Total Puts 2 5 -60.0%
PUT/CALL Ratio 0.5 0.71 Bullish

Statistics: SPRY

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Valuation Measures Data as of: --

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

Financial Highlights

Profitability
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Return on Assets (ttm) --
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Institutional Holders (2026 Q1)

185 + investors

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

Top 25 institutional holders of SPRY — 2025 Q4 · Source: SEC Form 13F
# Investor % of Portfolio Shares Mkt Value
1 VALLEY FORGE INVESTMENT CONSULTANTS INC ADV 0.20% 83,225 $668K
2 Norman Fields, Gottscho Capital Management, LLC 0.11% 39,850 $320K
3 Everstar Asset Management, LLC 0.09% 20,000 $161K
4 AssuredPartners Investment Advisors, LLC 0.07% 76,210 $639K
5 Janney Montgomery Scott LLC 0.04% 2,016,464 $16K
6 PROFUND ADVISORS LLC 0.02% 52,328 $420K
7 China Universal Asset Management Co., Ltd. 0.01% 17,541 $141K
8 FOSTER & MOTLEY INC 0.01% 14,780
9 E Fund Management Co., Ltd. 0.00% 14,787 $119K
10 Y-Intercept (Hong Kong) Ltd 0.00% 15,924 $128K
11 CX Institutional 0.00% 8,890
12 Hilton Head Capital Partners, LLC 0.00% 365 $3K
13 Versant Capital Management, Inc 0.00% 1,538 $12K
14 OPPENHEIMER & CO INC 0.00% 12,439 $100K
15 Private Advisor Group, LLC 0.00% 30,242 $243K
16 BROWN, LISLE/CUMMINGS, INC. 0.00% 400 $3K
17 SIGNATUREFD, LLC 0.00% 2,812 $23K
18 GF FUND MANAGEMENT CO. LTD. 0.00% 2,208 $18K
19 GAMMA Investing LLC 0.00% 603 $5K
20 ProShare Advisors LLC 0.00% 12,974 $104K
21 SBI Securities Co., Ltd. 0.00% 650 $5K
22 Spire Wealth Management 0.00% 400 $3K
23 EASTERN BANK 0.00% 750 $6K
24 Pictet Asset Management Holding SA 0.00% 10,362 $83K
25 Sterling Capital Management LLC 0.00% 383 $3K
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?

Selling streak — 1 quarter in a row: For 1 consecutive quarter, more hedge funds reduced or closed their SPRY positions than added to them. Sustained institutional selling is a meaningful warning sign — these are professionals with deep research teams collectively deciding to exit.

What is the institutional breadth score for SPRY?

More sellers than buyers — 49% buying: Last quarter: 93 funds reduced or exited vs 89 that bought or added. When more than half of active funds are selling, it's a caution flag — especially if the stock price hasn't moved down yet.

What is the fund quality score for SPRY holders?

Strong quality — 22% AUM from major funds: 30 of 181 holders rank in the top 100 by AUM, accounting for 22% 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 — 38% long-term, 27% new: Of the 181 current holders: 69 (38%) held >2 years, 63 held 1–2 years, and 49 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.

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.