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ALETHEA CAPITAL MANAGEMENT, LLC

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13F filer, CIK 1549408, MERCER ISLAND, WA

ALETHEA CAPITAL MANAGEMENT, LLC reported $155,657,721 across 34 holdings for the quarter ended 2025-09-30, in a 13F-HR filed 2025-11-14. Its ten largest share positions make up 94.46% of the portfolio.

Filed (acceptance time not in the bulk data set), ingested 13F-HR 0001549408-25-000009

Period
2025-09-30
Reported value
$156M
Holdings
34
Top 10 weight
94.46%
New
23
Sold out
20

Largest buys vs the previous quarter

SecurityShares changeApprox. value
KURAadded+439,509$3.89M
RNAMadded+17,503$763K
JNJnew+3,323$616K
CDTXnew+5,957$570K
VTRnew+8,040$563K

Ranked by the share change valued at this quarter's implied price (value over shares in the 13F). A position sold out is valued at the previous quarter's price, its last report.

Largest sells vs the previous quarter

SecurityShares changeApprox. value
RSPUreduced-91,117-$6.99M
NRGexited-3,308-$531K
NFLXexited-339-$454K
DASHexited-1,728-$426K
TPRexited-4,487-$394K

Ranked by the share change valued at this quarter's implied price (value over shares in the 13F). A position sold out is valued at the previous quarter's price, its last report.

Holdings, Q3 2025

Share positions as resolved from 13F-HR 0001549408-25-000009, largest first. % of portfolio is the value over $155,380,221, the sum of the share positions whose value is usable for ratios (method).

SecurityHistorySharesValue% of portfolioChangeLatest eventTimeline
AXSMAXSOME THERAPEUTICS INC.Quarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 738,503 shares; 2024Q4: 734,317 shares; 2025Q1: 667,368 shares; 2025Q2: 667,368 shares; 2025Q3: 670,883 shares 670,883$81.5M52.44%+3,515Timeline
BILSPDR SERIES TRUSTQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 324,107 shares; 2024Q4: 298,752 shares; 2025Q1: 306,042 shares; 2025Q2: 311,541 shares; 2025Q3: 311,974 shares 311,974$28.6M18.42%+433Timeline
RNAMAVIDITY BIOSCIENCES INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 427,454 shares; 2024Q4: 420,871 shares; 2025Q1: 421,724 shares; 2025Q2: 428,624 shares; 2025Q3: 446,127 shares 446,127$19.4M12.51%+17,503Timeline
KURAKURA ONCOLOGY INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 553,542 shares; 2024Q4: 558,442 shares; 2025Q1: 659,177 shares; 2025Q2: 949,285 shares; 2025Q3: 1,388,794 shares 1,388,794$12.3M7.91%+439,509Timeline
TLTISHARES TRQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 23,123 shares; 2024Q4: 23,123 shares; 2025Q1: 23,123 shares; 2025Q2: 23,123 shares; 2025Q3: 23,123 shares 23,123$2.07M1.33%0Timeline
JNJJOHNSON & JOHNSONQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: 3,323 shares 3,323$616K0.4%newTimeline
CDTXCIDARA THERAPEUTICS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 79,908 shares; 2024Q4: 14,311 shares; 2025Q1: 14,311 shares; 2025Q2: not reported; 2025Q3: 5,957 shares 5,957$570K0.37%newTimeline
VTRVENTAS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: 4,515 shares; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: 8,040 shares 8,040$563K0.36%newTimeline
UNHUNITEDHEALTH GROUP INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: 1,627 shares 1,627$562K0.36%newTimeline
SJMSMUCKER J M COQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: 5,170 shares 5,170$561K0.36%newTimeline
CNPCENTERPOINT ENERGY INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: 13,820 shares 13,820$536K0.35%newTimeline
MCDMCDONALDS CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 1,457 shares; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: 1,739 shares 1,739$528K0.34%newTimeline
EXCEXELON CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 10,575 shares; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: 11,693 shares 11,693$526K0.34%newTimeline
VZVERIZON COMMUNICATIONS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: 11,732 shares 11,732$516K0.33%newTimeline
BF-BBROWN FORMAN CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: 18,864 shares 18,864$511K0.33%newTimeline
EDCONSOLIDATED EDISON INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: 5,058 shares 5,058$508K0.33%newTimeline
AWKAMERICAN WTR WKS CO INC NEWQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: 3,648 shares 3,648$508K0.33%newTimeline
MAAMID-AMER APT CMNTYS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: 3,430 shares 3,430$479K0.31%newTimeline
TAPMOLSON COORS BEVERAGE COQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: 10,557 shares 10,557$478K0.31%newTimeline
CCICROWN CASTLE INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: 4,941 shares 4,941$477K0.31%newTimeline
INVHINVITATION HOMES INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: 12,246 shares; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: 15,478 shares 15,478$454K0.29%newTimeline
PAYXPAYCHEX INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: 3,493 shares 3,493$443K0.28%newTimeline
LKQLKQ CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 8,785 shares; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: 13,716 shares 13,716$419K0.27%newTimeline
HEDJWISDOMTREE TRQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 8,020 shares; 2024Q4: 7,925 shares; 2025Q1: 7,925 shares; 2025Q2: 7,925 shares; 2025Q3: 7,925 shares 7,925$399K0.26%0Timeline
TAT&T INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: 12,782 shares 12,782$361K0.23%newTimeline
LMTLOCKHEED MARTIN CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: 663 shares 663$331K0.21%newTimeline
STZCONSTELLATION BRANDS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: 2,362 shares 2,362$318K0.2%newTimeline
XOMEXXON MOBIL CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: 2,379 shares 2,379$268K0.17%newTimeline
RSPUINVESCO EXCHANGE TRADED FD TQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: 93,989 shares; 2025Q3: 2,872 shares 2,872$220K0.14%-91,117Timeline
IMRXIMMUNEERING CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: 22,935 shares; 2025Q3: 22,935 shares 22,935$161K0.1%0Timeline
EATON VANCE CALIFORNIA MUNI…EATON VANCE CALIFORNIA MUNI BOQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 10,658 shares; 2024Q4: 10,658 shares; 2025Q1: 10,658 shares; 2025Q2: 10,658 shares; 2025Q3: 10,658 shares 10,658$101K0.07%0
TGBTASEKO MINES LTDQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: 10,000 shares; 2025Q1: 10,000 shares; 2025Q2: 10,000 shares; 2025Q3: 10,000 shares 10,000$42.3K0.03%0Timeline
LPROOPEN LENDING CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 12,000 shares; 2024Q4: 12,000 shares; 2025Q1: 12,000 shares; 2025Q2: 12,000 shares; 2025Q3: 12,000 shares 12,000$25.3K0.02%0Timeline

Options

Puts and calls, as filed. The amount and value describe the underlying shares, not the option premium, so they stay out of % of portfolio (H5).

SecurityTypeAmountValueChange
KURAKURA ONCOLOGY INC Stockcall150,000$278Knew

Sold out in Q3 2025

Positions in the previous quarter's report that this quarter's report no longer lists.

SecurityShares beforeValue beforeType
NRGNRG ENERGY INC3,308$531Kshares
NFLXNETFLIX INC.339$454Kshares
DASHDOORDASH INC1,728$426Kshares
TPRTAPESTRY INC4,487$394Kshares
SMCISUPER MICRO COMPUTER INC7,844$384Kshares
CTVACORTEVA INC5,018$374Kshares
EBAYEBAY INC.4,664$347Kshares
XYLXYLEM INC2,643$342Kshares
ECLECOLAB INC1,245$335Kshares
SYKSTRYKER CORPORATION847$335Kshares
KRKROGER CO4,665$335Kshares
MAMASTERCARD INCORPORATED575$323Kshares
VLOVALERO ENERGY CORP2,392$322Kshares
GRMNGARMIN LTD1,455$304Kshares
CPAYCORPAY INC906$301Kshares
LLYELI LILLY & CO383$299Kshares
EOGEOG RES INC2,462$294Kshares
GEHCGE HEALTHCARE TECHNOLOGIES I3,914$290Kshares
TRGPTARGA RES CORP1,575$274Kshares
FISVFISERV INC1,432$247Kshares

How Q3 2025 was built

Available 13F filings of this filer for the quarter and their roles: the base report is the latest original or restatement, NEW HOLDINGS amendments filed after it are added (method).

FilingRoleAmendmentFiledAcceptedIngested
13F-HR 0001549408-25-000009 base2025-11-14acceptance time not in the bulk data set