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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
+29.52%
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
$517M
AUM Growth
+$43.2M
Cap. Flow
-$38.9M
Cap. Flow %
-7.51%
Top 10 Hldgs %
31.59%
Holding
139
New
25
Increased
32
Reduced
26
Closed
40

Top Buys

Rank Stock Value
1
MLYS icon
Mineralys Therapeutics
MLYS
+$9.19M
2
BMRN icon
BioMarin Pharmaceuticals
BMRN
+$8M
3
COGT icon
Cogent Biosciences
COGT
+$7.87M
4
VOR icon
Vor Biopharma
VOR
+$7.64M
5
ORIC icon
Oric Pharmaceuticals
ORIC
+$6.59M

Top Sells

Rank Stock Value
1
NICE icon
Nice
NICE
+$19M
2
TSEM icon
Tower Semiconductor
TSEM
+$18.2M
3
QQQ icon
Invesco QQQ Trust
QQQ
+$13.8M
4
PRAX icon
Praxis Precision Medicines
PRAX
+$10.8M
5
TEVA icon
Teva Pharmaceuticals
TEVA
+$9.45M

Sector Composition

Rank Sector Weight
1 Healthcare 79.54%
2 Technology 10.61%
3 Industrials 1.15%
4 Communication Services 0%
5 Consumer Discretionary 0%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
AMD icon
51
Advanced Micro Devices
AMD
$791B
$3.86M 0.75%
18,040
+2,570
+17% +$577K
CLYM
52
Climb Bio
CLYM
$692M
$3.73M 0.72%
932,247
+497,410
+114% +$1.19M
ACOG
53
Alpha Cognition
ACOG
$190M
$3.69M 0.71%
567,616
+228,864
+68% +$1.45M
ELVN icon
54
Enliven Therapeutics
ELVN
$3.85B
$3.49M 0.68%
226,765
+60,000
+36% +$1.2M
TARA icon
55
Protara Therapeutics
TARA
$227M
$3.46M 0.67%
+650,000
New +$3.61M
AVGO icon
56
Broadcom
AVGO
$1.85T
$3.38M 0.65%
9,755
+3,200
+49% +$1.14M
ELDN icon
57
Eledon Pharmaceuticals
ELDN
$263M
$3.22M 0.62%
2,132,131
+851,898
+67% +$2.02M
BIOA
58
BioAge Labs
BIOA
$1.1B
$3.22M 0.62%
+243,035
New +$2.15M
CRVS icon
59
Corvus Pharmaceuticals
CRVS
$1.11B
$3.14M 0.61%
407,709
– –
ESLT icon
60
Elbit Systems
ESLT
$36.8B
$3.08M 0.6%
5,340
-1,400
-21% -$702K
KURA icon
61
Kura Oncology
KURA
$826M
$3.07M 0.59%
295,522
+50,000
+20% +$525K
MAZE
62
Maze Therapeutics
MAZE
$1.53B
$2.98M 0.58%
71,843
-82,500
-53% -$2.84M
ZIM icon
63
ZIM Integrated Shipping Services
ZIM
$2.98B
$2.89M 0.56%
+136,005
New +$2.28M
GPCR icon
64
Structure Therapeutics
GPCR
$3.52B
$2.85M 0.55%
41,000
-132,931
-76% -$5.43M
EVMN
65
Evommune Inc
EVMN
$409M
$2.84M 0.55%
+166,147
New +$3.12M
VSTM icon
66
Verastem
VSTM
$536M
$2.65M 0.51%
343,678
+265,371
+339% +$2.37M
AMGN icon
67
Amgen
AMGN
$209B
$2.45M 0.47%
7,500
-2,000
-21% -$634K
NRIX icon
68
Nurix Therapeutics
NRIX
$2.45B
$2.35M 0.45%
+124,000
New +$1.78M
ASND icon
69
Ascendis Pharma A/S
ASND
$16.5B
$2.35M 0.45%
+11,000
New +$2.27M
TENX icon
70
Tenax Therapeutics
TENX
$401M
$2.32M 0.45%
+190,111
New +$1.65M
JANX icon
71
Janux Therapeutics
JANX
$950M
$2.18M 0.42%
157,840
+72,000
+84% +$1.69M
PFE icon
72
Pfizer
PFE
$142B
$2.14M 0.41%
86,000
– –
TSHA icon
73
Taysha Gene Therapies
TSHA
$1.69B
$2.02M 0.39%
368,146
-40,000
-10% -$194K
CTNM
74
Contineum Therapeutics
CTNM
$589M
$1.98M 0.38%
+173,475
New +$1.98M
MDGL icon
75
Madrigal Pharmaceuticals
MDGL
$11.4B
$1.92M 0.37%
+3,300
New +$1.69M
1 2
3
4 5

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FCFC
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PWW
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SWP
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Sphera Funds Management's Q4 2025 Portfolio in Review

As of Q4 2025, Sphera Funds Management held 139 positions worth $517M, up 9.1% from $474M the previous quarter. Its ten largest holdings account for 32% of the portfolio.

Sphera Funds Management withdrew a net $38.9M in Q4 2025, closing 40 positions and reducing 26 holdings. Its most notable exit was Nice, an estimated $19M position sold in full.

By sector, the portfolio is most concentrated in Healthcare at 80% of assets, up from 64% a quarter earlier, followed by Technology and Industrials.

Against the trend, Sphera Funds Management opened a new position in BioMarin Pharmaceuticals worth $8.74M.

  • Sphera Funds Management's largest Q4 2025 buy was BioMarin Pharmaceuticals: 147,000 shares worth $8.74M.
  • Sphera Funds Management added most to Mineralys Therapeutics in Q4 2025, an estimated $9.19M increase.
  • Sphera Funds Management's biggest Q4 2025 reduction was Tower Semiconductor, cutting an estimated $18.2M.
  • Sphera Funds Management fully exited Nice in Q4 2025, selling an estimated $19M.
  • Sphera Funds Management's ten largest holdings make up 32% of its $517M portfolio in Q4 2025.
  • Sphera Funds Management opened 25 new positions and closed 40 in Q4 2025.
  • Sphera Funds Management's portfolio value rose 9.1% quarter-over-quarter to $517M.

Based on Sphera Funds Management's 13F filing for Q4 2025, filed 17 Feb 2026.