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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
-11.74%
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
$434M
AUM Growth
-$119M
Cap. Flow
-$36.8M
Cap. Flow %
-8.48%
Top 10 Hldgs %
36.01%
Holding
127
New
20
Increased
19
Reduced
51
Closed
12

Top Buys

Rank Stock Value
1
SRPT icon
Sarepta Therapeutics
SRPT
+$6.21M
2
NVMI
Nova
NVMI
+$5.21M
3
MAZE
Maze Therapeutics
MAZE
+$4.28M
4
IMVT icon
Immunovant
IMVT
+$4.07M
5
SNDX icon
Syndax Pharmaceuticals
SNDX
+$3.99M

Top Sells

Rank Stock Value
1
BBIO icon
BridgeBio Pharma
BBIO
+$18.2M
2
MSFT icon
Microsoft
MSFT
+$7.23M
3
META icon
Meta Platforms (Facebook)
META
+$7.12M
4
WIX icon
WIX.com
WIX
+$6.33M
5
MRVL icon
Marvell Technology
MRVL
+$6.16M

Sector Composition

Rank Sector Weight
1 Healthcare 73.67%
2 Technology 12.64%
3 Consumer Discretionary 2.04%
4 Communication Services 2%
5 Utilities 1.37%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
APRE icon
101
Aprea Therapeutics
APRE
$7.68M
$551K 0.13%
270,000
– –
ZURA icon
102
Zura Bio
ZURA
$516M
$543K 0.13%
421,229
-269,489
-39% -$425K
KZR
103
DELISTED
Kezar Life Sciences
KZR
$529K 0.12%
108,473
– –
JSPR icon
104
Jasper Therapeutics
JSPR
$21M
$525K 0.12%
122,017
-13,703
-10% -$91.2K
IBIT icon
105
iShares Bitcoin Trust
IBIT
$46.7B
$382K 0.09%
+8,150
New +$431K
CDTX
106
DELISTED
Cidara Therapeutics
CDTX
$369K 0.08%
+17,128
New +$380K
OKUR
107
OnKure Therapeutics
OKUR
$154M
$346K 0.08%
80,454
-6,900
-8% -$38.8K
FATE icon
108
Fate Therapeutics
FATE
$286M
$314K 0.07%
397,177
– –
CLYM
109
Climb Bio
CLYM
$681M
$295K 0.07%
241,935
-10,000
-4% -$16.2K
ALEC icon
110
Alector
ALEC
$168M
$134K 0.03%
109,208
-215,431
-66% -$351K
ELEV
111
DELISTED
Elevation Oncology
ELEV
$92.9K 0.02%
358,562
-660,000
-65% -$377K
LVTX
112
DELISTED
LAVA Therapeutics
LVTX
$61.5K 0.01%
48,420
-77,908
-62% -$86.7K
APLT
113
DELISTED
Applied Therapeutics
APLT
$24.4K 0.01%
50,000
– –
IMTXW
114
DELISTED
Immatics N.V. Warrants
IMTXW
$1.58K ﹤0.01%
100,000
– –
ACAD icon
115
Acadia Pharmaceuticals
ACAD
$4.43B
– –
-288,539
Closed -$5.29M
CGEM icon
116
Cullinan Oncology
CGEM
$1.01B
– –
-205,000
Closed -$2.5M
CGEN icon
117
Compugen
CGEN
$222M
– –
-177,094
Closed -$271K
CRGX
118
DELISTED
CARGO Therapeutics
CRGX
– –
-179,674
Closed -$2.59M
CYTK icon
119
CALL
Cytokinetics
CYTK
$10.5B
– –
-50,000
Closed -$2.35M
ENPH icon
120
Enphase Energy
ENPH
$4.96B
– –
-50,198
Closed -$3.45M
JSPR icon
121
CALL
Jasper Therapeutics
JSPR
$21M
– –
-61,100
Closed -$1.31M
JSPR icon
122
PUT
Jasper Therapeutics
JSPR
$21M
– –
-77,500
Closed -$1.66M
MRSN
123
DELISTED
Mersana Therapeutics
MRSN
– –
-27,611
Closed -$987K
PLRX icon
124
Pliant Therapeutics
PLRX
$64.4M
– –
-297,362
Closed -$3.92M
KYTX icon
125
Kyverna Therapeutics
KYTX
$444M
– –
-118,758
Closed -$444K
2 3 4
5
6

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KCMH
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FCFC
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BI
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PWW
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TTSTC
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SWP
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EIM
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Sphera Funds Management's Q1 2025 Portfolio in Review

As of Q1 2025, Sphera Funds Management held 127 positions worth $434M, down 21% from $553M the previous quarter. Its ten largest holdings account for 36% of the portfolio.

Sphera Funds Management withdrew a net $36.8M in Q1 2025, closing 12 positions and reducing 51 holdings. Its most notable exit was Acadia Pharmaceuticals, an estimated $5.29M position sold in full.

By sector, the portfolio is most concentrated in Healthcare at 74% of assets, up from 73% a quarter earlier, followed by Technology and Consumer Discretionary.

Against the trend, Sphera Funds Management opened a new position in Maze Therapeutics worth $3.91M.

  • Sphera Funds Management's largest Q1 2025 buy was Maze Therapeutics: 355,554 shares worth $3.91M.
  • Sphera Funds Management added most to Sarepta Therapeutics in Q1 2025, an estimated $6.21M increase.
  • Sphera Funds Management's biggest Q1 2025 reduction was BridgeBio Pharma, cutting an estimated $18.2M.
  • Sphera Funds Management fully exited Acadia Pharmaceuticals in Q1 2025, selling an estimated $5.29M.
  • Sphera Funds Management's ten largest holdings make up 36% of its $434M portfolio in Q1 2025.
  • Sphera Funds Management opened 20 new positions and closed 12 in Q1 2025.
  • Sphera Funds Management's portfolio value fell 21% quarter-over-quarter to $434M.

Based on Sphera Funds Management's 13F filing for Q1 2025, filed 15 May 2025.