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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
+12.19%
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
$426M
AUM Growth
-$8.17M
Cap. Flow
-$21.9M
Cap. Flow %
-5.15%
Top 10 Hldgs %
33.1%
Holding
137
New
22
Increased
24
Reduced
54
Closed
27

Top Buys

Rank Stock Value
1
TSEM icon
Tower Semiconductor
TSEM
+$7.8M
2
BIIB icon
Biogen
BIIB
+$7.48M
3
FOLD
Amicus Therapeutics
FOLD
+$6.39M
4
CYTK icon
Cytokinetics
CYTK
+$6.32M
5
TRVI icon
Trevi Therapeutics
TRVI
+$4.98M

Top Sells

Rank Stock Value
1
BBIO icon
BridgeBio Pharma
BBIO
+$10.2M
2
RARE icon
Ultragenyx Pharmaceutical
RARE
+$6.03M
3
NICE icon
Nice
NICE
+$5.13M
4
MRUS
Merus
MRUS
+$4.48M
5
SNY icon
Sanofi
SNY
+$4.34M

Sector Composition

Rank Sector Weight
1 Healthcare 65.73%
2 Technology 17.1%
3 Consumer Discretionary 1.67%
4 Utilities 1.53%
5 Communication Services 1.48%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
ELDN icon
26
Eledon Pharmaceuticals
ELDN
$262M
$5.31M 1.25%
1,959,610
-347,509
-15% -$1.04M
TVTX icon
27
Travere Therapeutics
TVTX
$5.2B
$4.96M 1.16%
335,333
+135,333
+68% +$2.24M
ABBV icon
28
AbbVie
ABBV
$465B
$4.69M 1.1%
25,256
-5,000
-17% -$929K
GSK icon
29
GSK
GSK
$108B
$4.68M 1.1%
122,000
-8,000
-6% -$306K
PRAX icon
30
Praxis Precision Medicines
PRAX
$8.25B
$4.62M 1.08%
109,757
-30,903
-22% -$1.18M
NVS icon
31
Novartis
NVS
$304B
$4.48M 1.05%
37,000
-13,000
-26% -$1.47M
TRVI icon
32
Trevi Therapeutics
TRVI
$2.62B
$4.38M 1.03%
+799,957
New +$4.98M
MAZE
33
Maze Therapeutics
MAZE
$1.54B
$4.37M 1.03%
356,453
+899
+0.3% +$9.35K
ANNX icon
34
Annexon
ANNX
$814M
$4.23M 0.99%
1,764,387
– –
PRAX icon
35
CALL
Praxis Precision Medicines
PRAX
$8.25B
$4.21M 0.99%
100,000
– –
TLT icon
36
CALL
iShares 20+ Year Treasury Bond ETF
TLT
$43.1B
$4.15M 0.97%
47,000
-208,100
-82% -$18.1M
IMVT icon
37
Immunovant
IMVT
$7.99B
$4.11M 0.96%
256,743
+62,105
+32% +$939K
ORIC icon
38
Oric Pharmaceuticals
ORIC
$1.23B
$4.01M 0.94%
394,693
+159,859
+68% +$1.07M
MRK icon
39
Merck
MRK
$326B
$3.85M 0.9%
48,600
-11,000
-18% -$874K
ACAD icon
40
Acadia Pharmaceuticals
ACAD
$4.45B
$3.77M 0.89%
+174,900
New +$3.25M
BBIO icon
41
BridgeBio Pharma
BBIO
$16.8B
$3.76M 0.88%
87,108
-279,500
-76% -$10.2M
RARE icon
42
Ultragenyx Pharmaceutical
RARE
$2.56B
$3.64M 0.85%
100,085
-167,300
-63% -$6.03M
RNAM
43
DELISTED
Avidity Biosciences
RNAM
$3.58M 0.84%
126,000
+20,000
+19% +$596K
ACOG
44
Alpha Cognition
ACOG
$183M
$3.51M 0.82%
376,649
-220,343
-37% -$1.62M
RZLT icon
45
Rezolute
RZLT
$474M
$3.35M 0.79%
751,447
-330,000
-31% -$1.23M
HELP
46
Cybin Inc
HELP
$471M
$3.34M 0.78%
398,309
-128,913
-24% -$938K
AMAT icon
47
Applied Materials
AMAT
$378B
$3.3M 0.77%
18,000
– –
ARWR icon
48
Arrowhead Research
ARWR
$12.1B
$3.21M 0.75%
202,996
-74,554
-27% -$1.07M
IMTX icon
49
Immatics
IMTX
$1.19B
$3.14M 0.74%
583,105
-338,006
-37% -$1.68M
SVRA icon
50
Savara
SVRA
$1.09B
$2.99M 0.7%
1,310,233
+26,082
+2% +$70.9K
1
2
3 4 5

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Sphera Funds Management's Q2 2025 Portfolio in Review

As of Q2 2025, Sphera Funds Management held 137 positions worth $426M, down 1.9% from $434M the previous quarter. Its ten largest holdings account for 33% of the portfolio.

Sphera Funds Management withdrew a net $21.9M in Q2 2025, closing 27 positions and reducing 54 holdings. Its most notable exit was Nice, an estimated $5.13M position sold in full.

By sector, the portfolio is most concentrated in Healthcare at 66% of assets, down from 74% a quarter earlier, followed by Technology and Consumer Discretionary.

Against the trend, Sphera Funds Management opened a new position in Amicus Therapeutics worth $5.68M.

  • Sphera Funds Management's largest Q2 2025 buy was Amicus Therapeutics: 990,718 shares worth $5.68M.
  • Sphera Funds Management added most to Tower Semiconductor in Q2 2025, an estimated $7.8M increase.
  • Sphera Funds Management's biggest Q2 2025 reduction was BridgeBio Pharma, cutting an estimated $10.2M.
  • Sphera Funds Management fully exited Nice in Q2 2025, selling an estimated $5.13M.
  • Sphera Funds Management's ten largest holdings make up 33% of its $426M portfolio in Q2 2025.
  • Sphera Funds Management opened 22 new positions and closed 27 in Q2 2025.
  • Sphera Funds Management's portfolio value fell 1.9% quarter-over-quarter to $426M.

Based on Sphera Funds Management's 13F filing for Q2 2025, filed 14 Aug 2025.