ALETHEA CAPITAL MANAGEMENT, LLC
Long book
$186.1M
Q1 2026
Positions
13
Top-10 weight
100%
concentration
Last quarter
+29.2%
SPY +14.8%
Turnover
38%
of book per quarter
Strategy in plain words
auto-generated from filingsALETHEA CAPITAL MANAGEMENT, LLC is an institutional manager, specialised in healthcare (98% of the long book), running a $186.1M US long book across 13 positions.
The portfolio is extremely concentrated — the top 10 positions are almost the whole book. The portfolio is actively managed, with meaningful quarterly turnover. Current anchor positions: AXSOME THERAPEUTICS INC, SS SPDR BB 1-3M T-BILL ETF, KURA ONCOLOGY INC, ISHARES 20+ YEAR TREASURY BD, TEMPUS AI INC-CL A.
Over the last 9 quarters its long book ran on average 4.6pp per quarter ahead of the S&P 500, beating the index in 5 of 9 quarters. Signal value of individual moves is limited — treat changes as weak evidence.
Implied long-book return vs S&P 500
methodology: positions priced quarterly, no shorts/options Fund long book S&P 500
Q1 2024
+0.7%
Q2 2024
+7.8%
Q3 2024
-8.9%
Q4 2024
+22.0%
Q1 2025
-6.2%
Q2 2025
+12.9%
Q3 2025
+32.0%
Q4 2025
-7.5%
Q1 2026
+29.2%
Sector allocation
Healthcare 98%
Technology 1%
Financials 0%
Other 0%
Long book by quarter
What does ALETHEA CAPITAL own?
Q1 2026 13F| Company | Sector | Shares | Value | % of book | Change |
|---|---|---|---|---|---|
| AXSM AXSOME THERAPEUTICS INC | Healthcare | 649.1K | $109.7M | 58.9% | -2.9% |
| KURA KURA ONCOLOGY INC | Healthcare | 1.5M | $12.4M | 6.7% | +7.5% |
| TEM TEMPUS AI INC-CL A | Technology | 31.6K | $1.4M | 0.8% | Held |
| RNA ATRIUM THERAPEUTICS INC | Healthcare | 43.8K | $585K | 0.3% | New |
| WFC WELLS FARGO & CO | Financials | 6.0K | $480K | 0.3% | New |
| GPK GRAPHIC PACKAGING HOLDING CO | Other | 16.3K | $162K | 0.1% | New |
| IMRX IMMUNEERING CORP - CLASS A | Healthcare | 22.9K | $121K | 0.1% | Held |
| UDM TASEKO MINES LTD | — | 10.0K | $65K | 0.0% | Held |
| LPRO OPEN LENDING CORP | Financials | 12.0K | $15K | 0.0% | Held |
13F filing history
| Period | Form | Filed | Entries | Reported value | Flags | Source |
|---|---|---|---|---|---|---|
| Q1 2026 | 13F-HR | May 13, 2026 | 14 | $194.9M | canonical | SEC ↗ |
| Q4 2025 | 13F-HR | Feb 11, 2026 | 13 | $205.9M | canonical | SEC ↗ |
| Q3 2025 | 13F-HR | Nov 14, 2025 | 34 | $155.7M | canonical | SEC ↗ |
| Q2 2025 | 13F-HR | Aug 14, 2025 | 31 | $132.1M | canonical | SEC ↗ |
| Q1 2025 | 13F-HR | May 14, 2025 | 11 | $134.0M | canonical | SEC ↗ |
| Q4 2024 | 13F-HR | Feb 14, 2025 | 30 | $116.8M | canonical | SEC ↗ |
| Q3 2024 | 13F-HR | Nov 14, 2024 | 30 | $138.5M | canonical | SEC ↗ |
| Q2 2024 | 13F-HR | Aug 15, 2024 | 31 | $131.8M | canonical | SEC ↗ |
| Q1 2024 | 13F-HR | May 16, 2024 | 32 | $123.1M | canonical | SEC ↗ |