Alethea Capital Management, LLC
In its 13F for Q1 2025 (holdings as of March 31, 2025, filed May 14, 2025), Alethea Capital Management, LLC reported 11 stock positions worth $134.0 million. Its top holding was Axsome Therapeutics (AXSM) at 58.1% of the portfolio, followed by SS SPDR BB 1-3M T-Bill ETF (BIL, 20.9%) and Avidity Biosciences (RNAM, 9.3%). Compared with Q4 2024, it opened 1 new position, sold out of 20, added to 3 and reduced 1. The biggest buy was a new position in SS SPDR S&P 500 ETF Trust-US (SPY) and the biggest sale an exit from Citizens Financial (CFG).
- Most Recent 13F
- Q2 2026
- Location
- MERCER ISLAND, WA
- CIK
- 0001549408
- Portfolio Value
- $134.0M (Q1 2025)
- SEC Filing
- 0001549408-25-000006 ↗ filed May 14, 2025
Holdings Value
Holdings 11 stocks · $134.0M
| AXSM Axsome Therapeutics Inc. | 58.07% | 667,368 | $77.8M | Reduce -9.1% |
| BIL SS SPDR BB 1-3M T-Bill ETF | 20.95% | 306,042 | $28.1M | Add +2.4% |
| RNAM Avidity Biosciences Inc. | 9.29% | 421,724 | $12.4M | Add +0.2% |
| SPY SS SPDR S&P 500 ETF Trust-US | 6.25% | 14,970 | $8.4M | New |
| KURA Kura Oncology Inc. | 3.25% | 659,177 | $4.4M | Add +18.0% |
| TLT iShares 20+ Year Treasury BD | 1.57% | 23,123 | $2.1M | No change |
| HEDJ Wisdomtree Europe Hedged Equ | 0.28% | 7,925 | $376K | No change |
| CDTX Cidara Therapeutics Inc. | 0.23% | 14,311 | $308K | No change |
| XEVMX Eaton Vance Cal Muni Bond | 0.07% | 10,658 | $99K | No change |
| LPRO Open Lending Corp. | 0.02% | 12,000 | $33K | No change |
| TASEKO MINES LTD | 0.02% | 10,000 | $22K | No change |
Portfolio Sells Q4 2024 → Q1 2025
| CFG Citizens Financial Group | Sold out | 0.00% | −0.39 |
| MO Altria Group Inc. | Sold out | 0.00% | −0.37 |
| AMT American Tower Corp. | Sold out | 0.00% | −0.37 |
| HPQ HP Inc. | Sold out | 0.00% | −0.34 |
| PNW Pinnacle West Capital | Sold out | 0.00% | −0.34 |
| DUK Duke Energy Corp. | Sold out | 0.00% | −0.34 |
| SWKS Skyworks Solutions Inc. | Sold out | 0.00% | −0.34 |
| PFE Pfizer Inc. | Sold out | 0.00% | −0.34 |
| FANG Diamondback Energy Inc. | Sold out | 0.00% | −0.34 |
| INVH Invitation Homes Inc. | Sold out | 0.00% | −0.34 |
| APA Apa Corp. | Sold out | 0.00% | −0.33 |
| DG Dollar General Corp. | Sold out | 0.00% | −0.33 |
| MRK Merck & Co. Inc. | Sold out | 0.00% | −0.32 |
| CPB The Campbell's Company | Sold out | 0.00% | −0.32 |
| AMGN Amgen Inc. | Sold out | 0.00% | −0.30 |
| VLO Valero Energy Corp. | Sold out | 0.00% | −0.27 |
| IRM Iron Mountain Inc. | Sold out | 0.00% | −0.26 |
| DVN Devon Energy Corp. | Sold out | 0.00% | −0.23 |
| VTR Ventas Inc. | Sold out | 0.00% | −0.23 |
| ESS Essex Property Trust Inc. | Sold out | 0.00% | −0.19 |
| AXSM Axsome Therapeutics Inc. | Reduce -9.1% | 58.07% | +4.89 |
Portfolio Buys Q4 2024 → Q1 2025
All Filings
| Quarter | Positions | 13F Reported Value | Top Holdings |
|---|---|---|---|
| Q2 2026 | 41 | $241.4M | AXSM, BIL, KURA, IMRX, TLT |
| Q1 2026 | 13 | $186.1M | AXSM, BIL, KURA, TLT, TEM |
| Q4 2025 | 13 | $205.9M | AXSM, RNAM, BIL, KURA, SPY |
| Q3 2025 | 33 | $155.4M | AXSM, BIL, RNAM, KURA, TLT |
| Q2 2025 | 31 | $132.1M | AXSM, BIL, RNAM, RSPU, KURA |
| Q1 2025 | 11 | $134.0M | AXSM, BIL, RNAM, SPY, KURA |
| Q4 2024 | 30 | $116.8M | AXSM, BIL, RNAM, KURA, TLT |
| Q3 2024 | 30 | $138.5M | AXSM, BIL, RNAM, KURA, TLT |
| Q2 2024 | 31 | $131.8M | AXSM, BIL, RNAM, KURA, TLT |
| Q1 2024 | 32 | $123.1M | AXSM, BIL, RNAM, KURA, TLT |