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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
MDWD icon
51
MediWound
MDWD
$188M
$4.4M 0.7%
273,192
+42,845
+19% +$745K
KOD icon
52
Kodiak Sciences
KOD
$2.67B
$4.38M 0.7%
114,796
-60,704
-35% -$1.57M
ZBIO
53
Zenas BioPharma
ZBIO
$1.86B
$4.19M 0.67%
+214,334
New +$4.81M
PMN icon
54
ProMIS Neurosciences
PMN
$136M
$4.14M 0.66%
325,591
+313,784
+2,658% +$4.68M
TLT icon
55
CALL
iShares 20+ Year Treasury Bond ETF
TLT
$42.1B
$4.07M 0.65%
47,000
– –
RLAY icon
56
Relay Therapeutics
RLAY
$4.34B
$4.06M 0.65%
+408,436
New +$3.65M
SVRA icon
57
Savara
SVRA
$1.13B
$4.04M 0.64%
739,164
-439,000
-37% -$2.44M
WVE icon
58
Wave Life Sciences
WVE
$1.12B
$3.97M 0.63%
548,272
+140,106
+34% +$1.83M
CRVS icon
59
Corvus Pharmaceuticals
CRVS
$1.25B
$3.63M 0.58%
247,961
-159,748
-39% -$2.55M
OVID icon
60
Ovid Therapeutics
OVID
$455M
$3.6M 0.57%
+1,622,828
New +$2.9M
IRON icon
61
Disc Medicine
IRON
$2.91B
$3.42M 0.54%
+53,538
New +$3.72M
UPB
62
Upstream Bio Inc
UPB
$381M
$3.22M 0.51%
+358,000
New +$6.44M
ACOG
63
Alpha Cognition
ACOG
$185M
$3.12M 0.49%
567,616
– –
PALI icon
64
Palisade Bio
PALI
$342M
$3.03M 0.48%
1,733,471
+1,549,371
+842% +$2.82M
DYN icon
65
Dyne Therapeutics
DYN
$3.92B
$2.91M 0.46%
160,594
-232,300
-59% -$4.01M
CLYM
66
Climb Bio
CLYM
$727M
$2.87M 0.46%
419,247
-513,000
-55% -$2.96M
ZIM icon
67
ZIM Integrated Shipping Services
ZIM
$2.93B
$2.79M 0.44%
105,950
-30,055
-22% -$749K
MSLE
68
Satellos Bioscience
MSLE
$186M
$2.75M 0.44%
+489,207
New +$4.81M
SEDG icon
69
SolarEdge
SEDG
$3.25B
$2.7M 0.43%
52,836
-143,700
-73% -$5.4M
AMGN icon
70
Amgen
AMGN
$198B
$2.64M 0.42%
7,500
– –
CYTK icon
71
Cytokinetics
CYTK
$10.9B
$2.62M 0.42%
39,817
-51,900
-57% -$3.3M
GPCR icon
72
Structure Therapeutics
GPCR
$3.45B
$2.45M 0.39%
50,800
+9,800
+24% +$671K
KURA icon
73
Kura Oncology
KURA
$964M
$2.4M 0.38%
295,522
– –
GENB
74
Generate Biomedicines
GENB
$1.74B
$2.31M 0.37%
+185,000
New +$2.26M
IBIT icon
75
iShares Bitcoin Trust
IBIT
$47B
$2.29M 0.36%
59,505
+29,450
+98% +$1.28M
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 $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.