ARS 파마슈티컬스, Inc.
US ˙ NasdaqGM ˙ US82835W1080

SecuritySPRY / ARS Pharmaceuticals, Inc.
InstitutionRoyce Micro-cap Trust, Inc /md/
Latest Disclosed Ownership12,510 shares
Latest Disclosed Value $ 218,299
Royce Micro-cap Trust, Inc /md/ reports 92.69% decrease in ownership of SPRY / ARS Pharmaceuticals, Inc.

On August 15, 2025 - Royce Micro-cap Trust, Inc /md/ filed a NPORT-P form disclosing ownership of 12,510 shares of ARS Pharmaceuticals, Inc. (US:SPRY) valued at $218,300 USD as of June 30, 2025. The entity filed a previous NPORT-P on May 19, 2025 disclosing 171,162 shares of ARS Pharmaceuticals, Inc.. This represents a change in shares of -92.69% during the quarter. The current value of the position is $107,086 USD.

Institutional Ownership: 13F and NPORT Filings

The Security and Class in the table below are shown exactly as filed by the investor. We do our best to track continuity of investments through acquisitions, and this will be reflected in the table as changes in names. In addition to descriptive data, performance of the investment is shown over time. To calculate quarterly performance, we first calculate cost basis of the shares purchased during the quarter, then use that to calculate gross profit. Quarterly return is Gross Profit / Starting Portfolio value.

Note that cost basis is calculated and stored in thousands, so small quarterly changes in shares frequently result in a cost basis of zero.

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Disclosed Equity Positions (from 13F/NPORT Filings)
File
Date		 Effective
Date		Form Security Class ID Avg Price
Paid (Est)		 Reported
Shares		 ΔShares ΔShares
(%)		 Reported
Value
(x1000)		 ΔValue
(%)		 Alloc
(%)		 ΔAlloc ΔAlloc (%) Cost Basis
(x1000)		 Unrealized
Gain/Loss
(x1000)
2025-08-15 2025-06-30 NP ARS Pharmaceuticals EC US82835W1080 12,510 -158,652 -92.69 218 -89.87 0.0393
2025-05-19 2025-03-31 NP ARS Pharmaceuticals EC US82835W1080 171,162 -63,856 -27.17 2,153 -13.15 0.4410
2025-02-21 2024-12-31 NP ARS Pharmaceuticals EC US82835W1080 235,018 175,763 296.62 2,479 188.59 0.4374
2024-11-19 2024-09-30 NP ARS Pharmaceuticals EC US82835W1080 59,255 59,255 859 0.1550
Legend
Shares
The total number of shares held by the institution at the end of the reporting period (the effective date). This is provided in the filing.
Value
The total value of the shares as of the effective date. This is provided in the filing.
Avg. Share Price
The weighted average share price of the shares held by the institution. We use FIFO accounting to determine this price
Class
This is the security class as indicated by the filer. There are a variety of values for this field. Common values include "EC" = equity common, "EP" - equity preferred
Allocation (%)
The percent of the institution's portfolio that this position represents. This is provided in NPORT filings. For 13F filings, we calculate it.
Change in Allocation
The change in allocation from the prior reporting period. This is calculated as current allocation - prior allocation.
Change in Allocation (%)
The percent change in allocation from the prior reporting period. This is calculated as (current allocation - prior allocation) / prior allocation.
Cost Basis
The total cost of the shares held. This is calculated as reported shares * avg. share price
Unrealized Gain/Loss
This is the market value of the position as of the effective date minus the cost basis.