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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
+10.64%
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
$630M
AUM Growth
+$112M
Cap. Flow
+$77.7M
Cap. Flow %
12.34%
Top 10 Hldgs %
36.68%
Holding
120
New
21
Increased
31
Reduced
30
Closed
24

Top Buys

Rank Stock Value
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

Rank Stock Value
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

Rank Sector Weight
1 Healthcare 74.06%
2 Technology 14.11%
3 Miscellaneous 9.12%
4 Utilities 1.21%
5 Consumer Discretionary 1.06%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
TNGX icon
26
Tango Therapeutics
TNGX
$3.81B
$7.19M 1.14%
343,563
-201,000
-37% -$2.8M
JNJ icon
27
Johnson & Johnson
JNJ
$651B
$7.05M 1.12%
28,831
-7,000
-20% -$1.63M
IMTX icon
28
Immatics
IMTX
$1.43B
$6.85M 1.09%
696,105
-165,000
-19% -$1.62M
TRVI icon
29
Trevi Therapeutics
TRVI
$2.43B
$6.85M 1.09%
574,029
-24,505
-4% -$274K
ORIC icon
30
Oric Pharmaceuticals
ORIC
$1.32B
$6.81M 1.08%
537,628
-466,750
-46% -$5.3M
MAZE
31
Maze Therapeutics
MAZE
$1.47B
$6.79M 1.08%
227,343
+155,500
+216% +$6.86M
GSK icon
32
GSK
GSK
$98.4B
$6.73M 1.07%
122,000
– –
AMZN icon
33
Amazon
AMZN
$2.75T
$6.65M 1.06%
+31,940
New +$7.03M
ABBV icon
34
AbbVie
ABBV
$444B
$6.58M 1.05%
30,256
+5,000
+20% +$1.11M
AAOI icon
35
Applied Optoelectronics
AAOI
$9.51B
$6.21M 0.99%
+73,400
New +$4.68M
ELVN icon
36
Enliven Therapeutics
ELVN
$4.36B
$6.01M 0.95%
153,265
-73,500
-32% -$2.04M
MRK icon
37
Merck
MRK
$367B
$5.85M 0.93%
48,600
– –
VOR icon
38
Vor Biopharma
VOR
$1.51B
$5.74M 0.91%
321,917
-88,500
-22% -$1.25M
ACAD icon
39
Acadia Pharmaceuticals
ACAD
$4.79B
$5.7M 0.91%
256,202
+44,000
+21% +$1.05M
NVS icon
40
Novartis
NVS
$266B
$5.65M 0.9%
37,000
– –
ELDN icon
41
Eledon Pharmaceuticals
ELDN
$241M
$5.46M 0.87%
1,772,131
-360,000
-17% -$848K
ENPH icon
42
Enphase Energy
ENPH
$5.07B
$5.38M 0.86%
142,419
-44,081
-24% -$1.83M
RVMD icon
43
Revolution Medicines
RVMD
$45.2B
$5.36M 0.85%
55,110
+2,610
+5% +$264K
PFE icon
44
Pfizer
PFE
$160B
$5.22M 0.83%
186,000
+100,000
+116% +$2.66M
BHVN icon
45
Biohaven
BHVN
$2.35B
$5.03M 0.8%
+594,000
New +$6.5M
FBRX
46
DELISTED
Forte Biosciences
FBRX
$4.79M 0.76%
184,984
-885
-0.5% -$25.5K
HELP
47
Cybin Inc
HELP
$891M
$4.74M 0.75%
987,090
+161,514
+20% +$1.04M
MDGL icon
48
Madrigal Pharmaceuticals
MDGL
$12.4B
$4.73M 0.75%
9,040
+5,740
+174% +$2.74M
SRRK icon
49
Scholar Rock
SRRK
$6.86B
$4.63M 0.74%
94,265
-64,000
-40% -$2.87M
NVO
50
Novo Nordisk
NVO
$202B
$4.43M 0.7%
120,677
+5,000
+4% +$237K
1
2
3 4 5

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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 $77.7M 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 Miscellaneous.

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.