Alethea Capital Management, LLC
In its 13F for Q2 2025 (holdings as of June 30, 2025, filed August 14, 2025), Alethea Capital Management, LLC reported 31 stock positions worth $132.1 million. Its top holding was Axsome Therapeutics (AXSM) at 52.7% of the portfolio, followed by SS SPDR BB 1-3M T-Bill ETF (BIL, 21.6%) and Avidity Biosciences (RNAM, 9.2%). Compared with Q1 2025, it opened 22 new positions, sold out of 2 and added to 3. The biggest buy was a new position in Invesco S&P 500 Equal Weight (RSPU) and the biggest sale an exit from SS SPDR S&P 500 ETF Trust-US (SPY).
- Most Recent 13F
- Q2 2026
- Location
- MERCER ISLAND, WA
- CIK
- 0001549408
- Portfolio Value
- $132.1M (Q2 2025)
- SEC Filing
- 0001549408-25-000007 ↗ filed Aug 14, 2025
Holdings Value
Holdings 31 stocks · $132.1M
| AXSM Axsome Therapeutics Inc. | 52.72% | 667,368 | $69.7M | No change |
| BIL SS SPDR BB 1-3M T-Bill ETF | 21.63% | 311,541 | $28.6M | Add +1.8% |
| RNAM Avidity Biosciences Inc. | 9.21% | 428,624 | $12.2M | Add +1.6% |
| RSPU Invesco S&P 500 Equal Weight | 5.06% | 93,989 | $6.7M | New |
| KURA Kura Oncology Inc. | 4.15% | 949,285 | $5.5M | Add +44.0% |
| TLT iShares 20+ Year Treasury BD | 1.54% | 23,123 | $2.0M | No change |
| NRG NRG Energy Inc. | 0.40% | 3,308 | $531K | New |
| NFLX Netflix Inc. | 0.34% | 339 | $454K | New |
| DASH DoorDash Inc. Class A | 0.32% | 1,728 | $426K | New |
| TPR Tapestry Inc. | 0.30% | 4,487 | $394K | New |
| SMCI Super Micro Computer Inc. | 0.29% | 7,844 | $384K | New |
| HEDJ Wisdomtree Europe Hedged Equ | 0.29% | 7,925 | $381K | No change |
| CTVA Corteva Inc. | 0.28% | 5,018 | $374K | New |
| EBAY eBay Inc. | 0.26% | 4,664 | $347K | New |
| XYL Xylem Inc. | 0.26% | 2,643 | $342K | New |
| ECL Ecolab Inc. | 0.25% | 1,245 | $335K | New |
| SYK Stryker Corp. | 0.25% | 847 | $335K | New |
| KR Kroger Co. | 0.25% | 4,665 | $335K | New |
| MA Mastercard Inc. Class A | 0.24% | 575 | $323K | New |
| VLO Valero Energy Corp. | 0.24% | 2,392 | $322K | New |
| GRMN Garmin Ltd. | 0.23% | 1,455 | $304K | New |
| CPAY Corpay Inc. | 0.23% | 906 | $301K | New |
| LLY Eli Lilly & Co. | 0.23% | 383 | $299K | New |
| EOG EOG Resources Inc. | 0.22% | 2,462 | $294K | New |
| GEHC GE Healthcare Technology | 0.22% | 3,914 | $290K | New |
| TRGP Targa Resources Corp. | 0.21% | 1,575 | $274K | New |
| FISV Fiserv Inc. | 0.19% | 1,432 | $247K | New |
| XEVMX Eaton Vance Cal Muni Bond | 0.07% | 10,658 | $95K | No change |
| IMRX Immuneering Corp. Class A | 0.06% | 22,935 | $77K | New |
| TASEKO MINES LTD | 0.02% | 10,000 | $32K | No change |
| LPRO Open Lending Corp. | 0.02% | 12,000 | $23K | No change |
Portfolio Sells Q1 2025 → Q2 2025
Portfolio Buys Q1 2025 → Q2 2025
| RSPU Invesco S&P 500 Equal Weight | New | 5.06% | +5.06 |
| KURA Kura Oncology Inc. | Add +44.0% | 4.15% | +0.90 |
| BIL SS SPDR BB 1-3M T-Bill ETF | Add +1.8% | 21.63% | +0.68 |
| NRG NRG Energy Inc. | New | 0.40% | +0.40 |
| NFLX Netflix Inc. | New | 0.34% | +0.34 |
| DASH DoorDash Inc. Class A | New | 0.32% | +0.32 |
| TPR Tapestry Inc. | New | 0.30% | +0.30 |
| SMCI Super Micro Computer Inc. | New | 0.29% | +0.29 |
| CTVA Corteva Inc. | New | 0.28% | +0.28 |
| EBAY eBay Inc. | New | 0.26% | +0.26 |
| XYL Xylem Inc. | New | 0.26% | +0.26 |
| ECL Ecolab Inc. | New | 0.25% | +0.25 |
| SYK Stryker Corp. | New | 0.25% | +0.25 |
| KR Kroger Co. | New | 0.25% | +0.25 |
| MA Mastercard Inc. Class A | New | 0.24% | +0.24 |
| VLO Valero Energy Corp. | New | 0.24% | +0.24 |
| GRMN Garmin Ltd. | New | 0.23% | +0.23 |
| CPAY Corpay Inc. | New | 0.23% | +0.23 |
| LLY Eli Lilly & Co. | New | 0.23% | +0.23 |
| EOG EOG Resources Inc. | New | 0.22% | +0.22 |
| GEHC GE Healthcare Technology | New | 0.22% | +0.22 |
| TRGP Targa Resources Corp. | New | 0.21% | +0.21 |
| FISV Fiserv Inc. | New | 0.19% | +0.19 |
| IMRX Immuneering Corp. Class A | New | 0.06% | +0.06 |
| RNAM Avidity Biosciences Inc. | Add +1.6% | 9.21% | −0.08 |
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 |