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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
-12.3%
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
$784M
AUM Growth
-$237M
Cap. Flow
-$75.7M
Cap. Flow %
-9.66%
Top 10 Hldgs %
46.1%
Holding
163
New
33
Increased
30
Reduced
43
Closed
36

Top Buys

Rank Stock Value
1
TEVA icon
Teva Pharmaceuticals
TEVA
+$37.3M
2
INCY icon
Incyte
INCY
+$11.2M
3
BMRN icon
BioMarin Pharmaceuticals
BMRN
+$8.68M
4
SHPG
Shire pic
SHPG
+$8.32M
5
BIIB icon
Biogen
BIIB
+$8.01M

Top Sells

Rank Stock Value
1
MRK icon
Merck
MRK
+$22.8M
2
GILD icon
Gilead Sciences
GILD
+$22.2M
3
PFE icon
Pfizer
PFE
+$10.1M
4
CXRX
Concordia International Corp. Common Stock
CXRX
+$9.03M
5
VRNT
Verint Systems
VRNT
+$8.47M

Sector Composition

Rank Sector Weight
1 Healthcare 55.74%
2 Industrials 4.06%
3 Utilities 2.54%
4 Technology 1.27%
5 Consumer Discretionary 0.92%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
TTPH
151
DELISTED
Tetraphase Pharmaceuticals, Inc.
TTPH
– –
-2,475
Closed -$2.35M
MLNX
152
DELISTED
Mellanox Technologies, Ltd.
MLNX
– –
-62,850
Closed -$3.05M
MDCO
153
CALL
DELISTED
Medicines Co
MDCO
– –
-1,000
Closed -$2.86M
MDCO
154
DELISTED
Medicines Co
MDCO
– –
-180,000
Closed -$5.15M
PAY
155
DELISTED
Verifone Systems Inc
PAY
– –
-93,055
Closed -$3.16M
CXRX
156
DELISTED
Concordia International Corp. Common Stock
CXRX
– –
-100,000
Closed -$9.03M
IPXL
157
DELISTED
Impax Laboratories, Inc.
IPXL
– –
-15,000
Closed -$689K
BRCM
158
DELISTED
BROADCOM CORP CL-A
BRCM
– –
-24,894
Closed -$1.28M
TW
159
DELISTED
TOWERS WATSON & CO COM STK CL A (DE)
TW
– –
-12,807
Closed -$1.61M
LMNS
160
DELISTED
LUMENIS LTD CL B ORD SHS (ISR)
LMNS
– –
-245
Closed –
RCPT
161
DELISTED
RECEPTOS INC COM STK (DE)
RCPT
– –
-20,000
Closed -$3.8M
MDVN
162
DELISTED
MEDIVATION, INC.
MDVN
– –
-68,230
Closed -$3.9M
TTHI
163
DELISTED
TRANSITION THERAPEUTICS INC (CANADA)
TTHI
– –
-70,273
Closed -$148K
3 4 5 6
7

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FCFC
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PWW
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SWP
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Sphera Funds Management's Q3 2015 Portfolio in Review

As of Q3 2015, Sphera Funds Management held 163 positions worth $784M, down 23% from $1.02B the previous quarter. Its ten largest holdings account for 46% of the portfolio.

Sphera Funds Management withdrew a net $75.7M in Q3 2015, closing 36 positions and reducing 43 holdings. Its most notable exit was Merck, an estimated $22.8M position sold in full.

By sector, the portfolio is most concentrated in Healthcare at 56% of assets, up from 51% a quarter earlier, followed by Industrials and Utilities.

Against the trend, Sphera Funds Management opened a new position in Incyte worth $11M.

  • Sphera Funds Management's largest Q3 2015 buy was Incyte: 100,000 shares worth $11M.
  • Sphera Funds Management added most to Teva Pharmaceuticals in Q3 2015, an estimated $37.3M increase.
  • Sphera Funds Management's biggest Q3 2015 reduction was Gilead Sciences, cutting an estimated $22.2M.
  • Sphera Funds Management fully exited Merck in Q3 2015, selling an estimated $22.8M.
  • Sphera Funds Management's ten largest holdings make up 46% of its $784M portfolio in Q3 2015.
  • Sphera Funds Management opened 33 new positions and closed 36 in Q3 2015.
  • Sphera Funds Management's portfolio value fell 23% quarter-over-quarter to $784M.

Based on Sphera Funds Management's 13F filing for Q3 2015, filed 16 Nov 2015.