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SFM

Sphera Funds Management Portfolio holdings

AUM $630M
1-Year Est. Return 108.65%
This Fund
S&P 500
This Quarter Est. Return
+10.64%
1 Year Est. Return
+108.65%
3 Year Est. Return
+217.64%
5 Year Est. Return
+342.91%
10 Year Est. Return
+2,254.45%
AUM
$630M
AUM Growth
+$112M
Cap. Flow
+$86.5M
Cap. Flow %
13.74%
Top 10 Hldgs %
36.68%
Holding
120
New
21
Increased
31
Reduced
30
Closed
24

Top Buys

1
MLYS icon
Mineralys Therapeutics
MLYS
+$26.1M
2
RARE icon
Ultragenyx Pharmaceutical
RARE
+$11.5M
3
BBIO icon
BridgeBio Pharma
BBIO
+$9.97M
4
CLBT icon
Cellebrite
CLBT
+$9.52M
5
PANW icon
Palo Alto Networks
PANW
+$8.87M

Top Sells

1
ANNX icon
Annexon
ANNX
+$6.61M
2
SEDG icon
SolarEdge
SEDG
+$5.4M
3
ORIC icon
Oric Pharmaceuticals
ORIC
+$5.3M
4
ATXS
Astria Therapeutics
ATXS
+$4.66M
5
DYN icon
Dyne Therapeutics
DYN
+$4.01M

Sector Composition

1 Healthcare 74.06%
2 Technology 14.11%
3 Utilities 1.21%
4 Consumer Discretionary 1.06%
5 Industrials 0.44%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
MLYS icon
1
Mineralys Therapeutics
MLYS
$2.39B
$36.3M 5.76%
1,339,971
+890,968
+198% +$26.1M
TEVA icon
2
Teva Pharmaceuticals
TEVA
$37.3B
$34.2M 5.44%
1,136,975
+13,450
+1% +$433K
TSEM icon
3
Tower Semiconductor
TSEM
$26.5B
$25.6M 4.06%
145,735
+23,222
+19% +$3.12M
XBI icon
4
PUT
State Street SPDR S&P Biotech ETF
XBI
$10.4B
$25.5M 4.06%
200,000
+130,000
+186% +$16.2M
NVMI
5
Nova
NVMI
$13.9B
$23.2M 3.68%
53,366
+5,520
+12% +$2.43M
BBIO icon
6
BridgeBio Pharma
BBIO
$15.9B
$18.2M 2.89%
245,246
+137,500
+128% +$9.97M
CYTK icon
7
CALL
Cytokinetics
CYTK
$10.9B
$17.1M 2.71%
+259,300
New +$16.5M
BIIB icon
8
Biogen
BIIB
$30.4B
$17M 2.69%
92,526
-2,212
-2% -$408K
RARE icon
9
Ultragenyx Pharmaceutical
RARE
$2.88B
$17M 2.69%
809,333
+508,710
+169% +$11.5M
SNDX icon
10
Syndax Pharmaceuticals
SNDX
$2.02B
$16.9M 2.69%
724,563
-38,000
-5% -$826K
COGT icon
11
Cogent Biosciences
COGT
$6.68B
$16M 2.54%
416,340
+37,840
+10% +$1.4M
SNY icon
12
Sanofi
SNY
$107B
$13M 2.06%
269,515
+30,000
+13% +$1.4M
AZN icon
13
AstraZeneca
AZN
$262B
$12.3M 1.96%
62,530
-5,000
-7% -$964K
FOLD
14
DELISTED
Amicus Therapeutics
FOLD
$8.72M 1.39%
603,377
-55,000
-8% -$788K
CLBT icon
15
Cellebrite
CLBT
$3.85B
$8.7M 1.38%
+631,521
New +$9.52M
APLS
16
DELISTED
Apellis Pharmaceuticals
APLS
$8.65M 1.37%
214,914
-36,047
-14% -$777K
PANW icon
17
Palo Alto Networks
PANW
$292B
$8.46M 1.34%
+52,800
New +$8.87M
LLY icon
18
Eli Lilly
LLY
$1.05T
$8.31M 1.32%
9,040
– –
BCRX icon
19
BioCryst Pharmaceuticals
BCRX
$2.36B
$8.25M 1.31%
866,464
+28,575
+3% +$222K
CAMT icon
20
Camtek
CAMT
$6.82B
$8.04M 1.28%
53,020
+13,522
+34% +$2.05M
BMRN icon
21
BioMarin Pharmaceuticals
BMRN
$11.5B
$7.9M 1.26%
139,900
-7,100
-5% -$414K
CLDX icon
22
Celldex Therapeutics
CLDX
$2.77B
$7.73M 1.23%
243,575
+3,811
+2% +$104K
ORA icon
23
Ormat Technologies
ORA
$6.43B
$7.64M 1.21%
+68,250
New +$7.92M
XENE icon
24
Xenon Pharmaceuticals
XENE
$6.6B
$7.39M 1.17%
+127,000
New +$5.85M
SLNO
25
DELISTED
Soleno Therapeutics
SLNO
$7.24M 1.15%
216,281
+79,967
+59% +$3.14M
1
2 3 4 5

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SCM
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Sphera Funds Management's Q1 2026 Portfolio in Review

As of Q1 2026, Sphera Funds Management held 120 positions worth $630M, up 22% from $517M the previous quarter. Its ten largest holdings account for 37% of the portfolio.

Sphera Funds Management deployed $86.5M of net new capital in Q1 2026, opening 21 new positions and adding to 31 existing holdings. Its largest new stake was Cellebrite: 631,521 shares worth $8.7M.

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

On the sell side, the largest reduction was SolarEdge, an estimated $5.4M trimmed.

  • Sphera Funds Management's largest Q1 2026 buy was Cellebrite: 631,521 shares worth $8.7M.
  • Sphera Funds Management added most to Mineralys Therapeutics in Q1 2026, an estimated $26.1M increase.
  • Sphera Funds Management's biggest Q1 2026 reduction was SolarEdge, cutting an estimated $5.4M.
  • Sphera Funds Management fully exited Annexon in Q1 2026, selling an estimated $6.61M.
  • Sphera Funds Management's ten largest holdings make up 37% of its $630M portfolio in Q1 2026.
  • Sphera Funds Management opened 21 new positions and closed 24 in Q1 2026.
  • Sphera Funds Management's portfolio value rose 22% quarter-over-quarter to $630M.

Based on Sphera Funds Management's 13F filing for Q1 2026, filed 15 May 2026.