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SFM

Sphera Funds Management Portfolio holdings

AUM $767M
1-Year Est. Return 119.71%
This Fund
S&P 500
This Quarter Est. Return
+18.13%
1 Year Est. Return
+119.71%
3 Year Est. Return
+244.81%
5 Year Est. Return
+382.5%
10 Year Est. Return
+2,655.81%
AUM
$767M
AUM Growth
+$137M
Cap. Flow
+$31.2M
Cap. Flow %
4.08%
Top 10 Hldgs %
34.48%
Holding
123
New
27
Increased
33
Reduced
30
Closed
18

Top Buys

Rank Stock Value
1
INSM icon
Insmed
INSM
+$14.4M
2
CYTK icon
Cytokinetics
CYTK
+$12.9M
3
TEVA icon
Teva Pharmaceuticals
TEVA
+$12.1M
4
BMRN icon
BioMarin Pharmaceuticals
BMRN
+$10.3M
5
RYTM icon
Rhythm Pharmaceuticals
RYTM
+$7.27M

Top Sells

Rank Stock Value
1
NVMI
Nova
NVMI
+$14.5M
2
TSEM icon
Tower Semiconductor
TSEM
+$8.98M
3
FOLD
Amicus Therapeutics
FOLD
+$8.72M
4
CLBT icon
Cellebrite
CLBT
+$8.7M
5
APLS
Apellis Pharmaceuticals
APLS
+$8.65M

Sector Composition

Rank Sector Weight
1 Healthcare 80.09%
2 Miscellaneous 10.43%
3 Technology 7.55%
4 Utilities 1.93%
5 Consumer Discretionary 0%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
TEVA icon
1
Teva Pharmaceuticals
TEVA
$42.7B
$50.8M 6.63%
1,500,082
+363,107
+32% +$12.1M
MLYS icon
2
Mineralys Therapeutics
MLYS
$2.5B
$39.7M 5.17%
1,469,971
+130,000
+10% +$3.57M
TSEM icon
3
Tower Semiconductor
TSEM
$23.3B
$28.2M 3.68%
108,265
-37,470
-26% -$8.98M
XBI icon
4
PUT
State Street SPDR S&P Biotech ETF
XBI
$11.7B
$23.7M 3.1%
150,000
-50,000
-25% -$6.76M
SNDX icon
5
Syndax Pharmaceuticals
SNDX
$1.85B
$22.2M 2.89%
1,014,606
+290,043
+40% +$6.03M
BIIB icon
6
CALL
Biogen
BIIB
$33.2B
$21.6M 2.82%
+100,000
New +$19.1M
BIIB icon
7
Biogen
BIIB
$33.2B
$20.9M 2.72%
96,626
+4,100
+4% +$784K
RARE icon
8
Ultragenyx Pharmaceutical
RARE
$1.46B
$19.6M 2.56%
588,494
-220,839
-27% -$5.49M
BMRN icon
9
BioMarin Pharmaceuticals
BMRN
$12.9B
$18.8M 2.45%
328,550
+188,650
+135% +$10.3M
CYTK icon
10
Cytokinetics
CYTK
$10.3B
$18.7M 2.44%
219,987
+180,170
+452% +$12.9M
BBIO icon
11
BridgeBio Pharma
BBIO
$14.7B
$18.3M 2.38%
245,346
+100
+0% +$7K
COGT icon
12
Cogent Biosciences
COGT
$6.06B
$17.8M 2.32%
459,340
+43,000
+10% +$1.5M
NVMI
13
Nova
NVMI
$11.2B
$13.7M 1.78%
25,169
-28,197
-53% -$14.5M
INSM icon
14
Insmed
INSM
$27.7B
$12.7M 1.65%
+118,800
New +$14.4M
MAZE
15
Maze Therapeutics
MAZE
$1.44B
$12.5M 1.63%
417,564
+190,221
+84% +$4.99M
AZN icon
16
AstraZeneca
AZN
$256B
$11.9M 1.55%
62,530
– –
SNY icon
17
Sanofi
SNY
$106B
$11.5M 1.5%
269,515
– –
HELP
18
Cybin Inc
HELP
$860M
$10.7M 1.4%
1,620,753
+633,663
+64% +$3.17M
LLY icon
19
Eli Lilly
LLY
$1.03T
$9.64M 1.26%
8,040
-1,000
-11% -$1.02M
MDGL icon
20
Madrigal Pharmaceuticals
MDGL
$12.5B
$9.35M 1.22%
17,419
+8,379
+93% +$4.29M
TRVI icon
21
Trevi Therapeutics
TRVI
$2.43B
$9.31M 1.21%
499,029
-75,000
-13% -$1.09M
ACAD icon
22
Acadia Pharmaceuticals
ACAD
$4.8B
$9.02M 1.18%
356,534
+100,332
+39% +$2.21M
CLDX icon
23
Celldex Therapeutics
CLDX
$3.09B
$8.96M 1.17%
240,868
-2,707
-1% -$87.4K
RYTM icon
24
Rhythm Pharmaceuticals
RYTM
$7.22B
$8.93M 1.16%
+80,400
New +$7.27M
CYTK icon
25
CALL
Cytokinetics
CYTK
$10.3B
$8.52M 1.11%
100,000
-159,300
-61% -$11.4M
1
2 3 4 5

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ACP
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NIM
Nexus Investment Management Toronto, Ontario, Canada $767M AUM 30.97% 1-Year Est. Return
ACM
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CBT
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SPIA
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CNB
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HI
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Sphera Funds Management's Q2 2026 Portfolio in Review

As of Q2 2026, Sphera Funds Management held 123 positions worth $767M, up 22% from $630M the previous quarter. Its ten largest holdings account for 34% of the portfolio.

Sphera Funds Management deployed $31.2M of net new capital in Q2 2026, opening 27 new positions and adding to 33 existing holdings. Its largest new stake was Insmed: 118,800 shares worth $12.7M.

By sector, the portfolio is most concentrated in Healthcare at 80% of assets, up from 74% a quarter earlier, followed by Miscellaneous and Technology.

On the sell side, the largest reduction was Nova, an estimated $14.5M trimmed.

  • Sphera Funds Management's largest Q2 2026 buy was Insmed: 118,800 shares worth $12.7M.
  • Sphera Funds Management added most to Cytokinetics in Q2 2026, an estimated $12.9M increase.
  • Sphera Funds Management's biggest Q2 2026 reduction was Nova, cutting an estimated $14.5M.
  • Sphera Funds Management fully exited Amicus Therapeutics in Q2 2026, selling an estimated $8.72M.
  • Sphera Funds Management's ten largest holdings make up 34% of its $767M portfolio in Q2 2026.
  • Sphera Funds Management opened 27 new positions and closed 18 in Q2 2026.
  • Sphera Funds Management's portfolio value rose 22% quarter-over-quarter to $767M.

Based on Sphera Funds Management's 13F filing for Q2 2026, filed 14 Aug 2026.