As of November 8, 2026, 4 holders' latest Schedule 13D or 13G filings report owning 5% or more of ARS Pharmaceuticals, Inc. The largest reported stake is RA Capital Management, L.P.'s, at 11.1%. 12 filings are on record since July 2, 2025 (Schedule 13D/A, October 1, 2025).
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Key facts
- · Reporting person: BlackRock, Inc. · Sole voting: 5,126,277 · Shared voting: 0 · Sole dispositive: 5,218,264 · Shared dispositive: 0 · SCHEDULE 13G, 2026-07-27
- · Reporting person: Integrated Core Strategies (US) LLC · Sole voting: 0 · Shared voting: 1,336,609 · Sole dispositive: 0 · Shared dispositive: 1,336,609 · SCHEDULE 13G/A, 2026-07-14
- · Holder: Rubric Capital Management LP · Percent: 8.06% · SCHEDULE 13G/A
- · Holder: BlackRock, Inc. · Percent: 4.98% · SCHEDULE 13G/A
- · Holder: Millennium Management LLC · Percent: 6% · SCHEDULE 13G/A
ARS Pharmaceuticals, Inc. has 12 Schedule 13D or 13G filings on record since 2025-07-02. 4 holders' latest filing reports 5% or more of common stock. Each figure below is the holder's own, as filed, with the filing linked.
Holders
| Holder | Percent | Shares | Latest | Event date |
|---|---|---|---|---|
| RA Capital Management, L.P. | 11.1% | 10,940,977 | SCHEDULE 13D/A, 2025-10-01 | 2025-09-29 |
| Rubric Capital Management LP | 8.06% | 8,000,000 | SCHEDULE 13G/A, 2026-05-15 | 2026-03-31 |
| 7.75% | 7,610,217 | SCHEDULE 13D/A, 2025-08-01 | 2025-07-30 | |
| BlackRock, Inc. | 5.3% | 5,218,264 | SCHEDULE 13G, 2026-07-27 | 2026-06-30 |
| Millennium Management LLC | 2.5% | 2,520,937 | SCHEDULE 13G/A, 2026-07-14 | 2026-06-30 |
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More on ARS Pharmaceuticals, Inc. and the records around it.
ARS Pharmaceuticals, Inc. elsewhere on the record
- Leadership changes Jul 2026
- Who owns it
Companies that share a holder
- Deerfield Mgmt III, L.P. also filed stake reports on 19 other companies: Climb Bio, Inc. (Oct 2026), Cogent Biosciences, Inc. (Aug 2026), Enhabit, Inc. (Aug 2026)
- Rubric Capital Management LP also filed stake reports on 32 other companies: ARDELYX, INC. (Aug 2026), Enovis Corporation (Aug 2026), MeiraGTx Holdings plc (Aug 2026)
- RA Capital Management, L.P. also filed stake reports on 100 other companies: Climb Bio, Inc. (Nov 2026), Bambusa Therapeutics, Inc. (Nov 2026), SOLID BIOSCIENCES INC. (Nov 2026)
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What the Full Report on ARS Pharmaceuticals, Inc. covers
The Short Answer
Which Company This Is
What They Do, And How The Money Works
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The Money: Funding, Valuation, Runway
Who Pays Them, And Who They Are Up Against
Warning Bells
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Voting and dispositive power, as filed
| Reporting person | Sole voting | Shared voting | Sole dispositive | Shared dispositive | Filing |
|---|---|---|---|---|---|
| BlackRock, Inc. | 5,126,277 | 0 | 5,218,264 | 0 | SCHEDULE 13G, 2026-07-27 |
| Integrated Core Strategies (US) LLC | 0 | 1,336,609 | 0 | 1,336,609 | SCHEDULE 13G/A, 2026-07-14 |
| Millennium Management LLC | 0 | 2,520,937 | 0 | 2,520,937 | SCHEDULE 13G/A, 2026-07-14 |
| Millennium Group Management LLC | 0 | 2,520,937 | 0 | 2,520,937 | SCHEDULE 13G/A, 2026-07-14 |
| Israel A. Englander | 0 | 2,520,937 | 0 | 2,520,937 | SCHEDULE 13G/A, 2026-07-14 |
The latest filing identifies ARS Pharmaceuticals, Inc. by CUSIP 82835W108 and gives its principal executive office as 11682 El Camino Real, Suite 300, SAN DIEGO, CA 92130 (SCHEDULE 13G, 2026-07-27).
Purpose of Transaction (Item 4)
RA Capital Management, L.P.
Item 4 is hereby amended and supplemented as follows: On September 29, 2025, the Issuer and certain direct and indirect subsidiaries of the Issuer who may become a party thereto from time to time, as guarantors (the "Guarantors"), and ARS Pharmaceuticals Operations, Inc., a wholly owned subsidiary of the Issuer, as the borrower (the "Borrower" and, collectively with the Guarantors, the "Credit Parties"), entered into a credit agreement (the "Credit Agreement") with RA Capital Agency Services, LLC (as the "Administrative Agent" and as the "Collateral Agent"), and affiliates of OMERS Administration Corporation and RA Capital, as lenders, and such other lenders from time to time party thereto (the "Lenders"), providing for up to $250.0 million of term loans from the Lenders to the Borrower (the "Term Loans"). The proceeds of the Term Loans will be used to (i) fund research, development and other product development and commercialization activities of the Company's products and (ii) for other general corporate purposes.Item 4 of the SCHEDULE 13D/A filed 2025-10-01
Timeline
| Filed | Holder | Percent | Filing |
|---|---|---|---|
| 2025-07-02 | James E. Flynn | 9.9% | SCHEDULE 13D/A |
| 2025-07-22 | James E. Flynn | 8.79% | SCHEDULE 13D/A |
| 2025-08-01 | James E. Flynn | 7.75% | SCHEDULE 13D/A |
| 2025-10-01 | RA Capital Management, L.P. | 11.1% | SCHEDULE 13D/A |
| 2026-01-21 | BlackRock, Inc. | 5.1% | SCHEDULE 13G |
| 2026-02-13 | Rubric Capital Management LP | 6.27% | SCHEDULE 13G |
| 2026-03-24 | Millennium Management LLC | 5.4% | SCHEDULE 13G |
| 2026-03-31 | Millennium Management LLC | 6% | SCHEDULE 13G/A |
| 2026-04-27 | BlackRock, Inc. | 4.98% | SCHEDULE 13G/A |
| 2026-05-15 | Rubric Capital Management LP | 8.06% | SCHEDULE 13G/A |
| 2026-07-14 | Millennium Management LLC | 2.5% | SCHEDULE 13G/A |
| 2026-07-27 | BlackRock, Inc. | 5.3% | SCHEDULE 13G |
Questions about who owns ARS Pharmaceuticals, Inc.
Who owns ARS Pharmaceuticals, Inc.?
On this page, 4 holders' latest ownership filings report 5% or more of ARS Pharmaceuticals, Inc.: RA Capital Management, L.P. (11.1%, Schedule 13D/A, filed 2025-10-01), Rubric Capital Management LP (8.06%, Schedule 13G/A, filed 2026-05-15), James E. Flynn (7.75%, Schedule 13D/A, filed 2025-08-01) and BlackRock, Inc. (5.3%, Schedule 13G, filed 2026-07-27).
Who are the largest shareholders of ARS Pharmaceuticals, Inc.?
By the share each holder's latest filing reports, the largest holders of ARS Pharmaceuticals, Inc. on this page are RA Capital Management, L.P. (11.1%), Rubric Capital Management LP (8.06%) and James E. Flynn (7.75%).
When did RA Capital Management, L.P. buy into ARS Pharmaceuticals, Inc.?
The filings give report dates, not purchase dates. The earliest filing from RA Capital Management, L.P. on this page is the Schedule 13D/A, filed 2025-10-01, reporting 11.1%. That earliest filing is itself an amendment, which updates an earlier report.
Is this an audit or a full list?
Neither. The ownership list on this page covers only Schedule 13D and 13G filings, which holders make once they own 5% or more of a class of shares (an amendment can report a stake that has since fallen below 5%); 12 such filings are shown here. It is not an audit and not a full cap table: holders who never reached 5% are not listed, and a stake can change after its latest filing.
Also on the record for ARS Pharmaceuticals, Inc.
| Date | Record | Figure | Our page | Source |
|---|---|---|---|---|
| July 17, 2026 | Leadership change: Richard Lowenthal departs, Director, and 1 more | — | Leadership changes | Source |
| July 7, 2026 | Leadership change filing (Form 8-K, Item 5.02) | — | Leadership changes | Source |
| May 13, 2026 | Leadership change filing (Form 8-K, Item 5.02) | — | Leadership changes | Source |
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Where this comes from
Anyone who comes to own more than 5% of a class of a listed company's voting shares has to tell the SEC. A holder who may seek to change or influence the company files Schedule 13D, and has to say in Item 4, "Purpose of Transaction", what it intends to do. A holder with no such intent, such as many index and passive funds, may file the shorter Schedule 13G. Both are amended when the stake changes, including when it falls below 5%.
Every row here is one of those filings, linked to the filing itself. Percentages and share counts are exactly as the holder filed them, for the holder the filing names; an amendment showing a lower figure is shown as filed. Item 4 text is quoted word for word. Where a 13D's Item 4 contains a sentence stating a definite intent to influence the company, that sentence is marked and quoted; the page does not describe the holder or its motives beyond the words it filed. Nothing here is investment advice.