SPHERA FUNDS MANAGEMENT LTD.
13F Reported Value
ⓘ$629.7M
incl. option notional
Equity Holdings
ⓘ$581.5M
Option Notional
ⓘ$48.2M
$25.5M puts / $22.7M calls
Holdings
96
Latest Filing
2026-03-31
Filing Quarter
Q1 2026
Portfolio Overview
SPHERA FUNDS MANAGEMENT LTD. disclosed 96 positions worth $629.7M in its Form 13F-HR for Q1 2026 — $581.5M in common stock plus $48.2M of put/call option positions (reported at underlying notional value, not premium at risk), led by $MLYS (Mineralys Therapeutics, Inc.) at 6.2% of the equity portfolio, followed by $TEVA and $TSEM. During the quarter the fund opened 21 new positions and exited 24 — including a new stake in $CYTK and a full exit from $PRAX. The portfolio is most concentrated in Healthcare (80.2% of disclosed assets). All figures are sourced directly from SPHERA FUNDS MANAGEMENT LTD.’s Form 13F-HR filing with the SEC under CIK 1496201.
AI Fund Analysis
ConcentratingSector Allocation
AUM History
Top Equity Holdings by Value
Option Positions
13F rules report options at the value of the underlying shares (notional) — not the premium paid or capital at risk. Shown separately from the equity sleeve above.
Quarterly Activity — Q1 2026
Click any card to unlockTop Holdings
- —
Quality
$36.3M1,339,971 sh - $34.2M1,136,975 sh
- —
Quality
$25.6M145,735 sh SPDR SERIES TRUST PUT
—Quality
$25.5M200,000 sh- —
Quality
$23.2M53,366 sh - 31.7
Quality
$18.2M245,246 sh - 28.0
Quality
$17.1M259,300 sh - 65.6
Quality
$17.0M92,526 sh - 31.0
Quality
$17.0M809,333 sh - 30.0
Quality
$16.9M724,563 sh
| Company | Quality | Value | Shares |
|---|---|---|---|
 Mineralys Therapeutics, Inc.$MLYS | — | $36.3M | 1,339,971 |
 TEVA PHARMACEUTICAL INDUSTRIES LTD$TEVA | — | $34.2M | 1,136,975 |
 TOWER SEMICONDUCTOR LTD$TSEM | — | $25.6M | 145,735 |
| SPDR SERIES TRUST PUT | — | $25.5M | 200,000 |
 NOVA LTD.$NVMI | — | $23.2M | 53,366 |
 BridgeBio Pharma, Inc.$BBIO | 31.7 | $18.2M | 245,246 |
 CYTOKINETICS INC$CYTKCALL | 28.0 | $17.1M | 259,300 |
 BIOGEN INC.$BIIB | 65.6 | $17.0M | 92,526 |
 Ultragenyx Pharmaceutical Inc.$RARE | 31.0 | $17.0M | 809,333 |
 Syndax Pharmaceuticals Inc$SNDX | 30.0 | $16.9M | 724,563 |
Unlock AI quality scores for every holding
32-signal composite ranking on each of SPHERA FUNDS MANAGEMENT LTD.'s 96 positions.
Showing top 10 of 96 holdings.
Sector Allocation
Healthcare
$466.3M
Technology
$88.9M
Utilities
$7.6M
Other
$6.9M
Consumer Discretionary
$6.7M
Industrials
$2.8M
Financials
$2.3M
Full Holdings — SPHERA FUNDS MANAGEMENT LTD. (Q1 2026)
All 96 disclosed positions from the latest Form 13F-HR, with quarter-over-quarter share changes and 13F Pro quality scores. Sourced from SEC EDGAR.
| # | Ticker | Company | Value | Weight | QoQ | Quality |
|---|---|---|---|---|---|---|
| 1 | $MLYS | Mineralys Therapeutics, Inc. | $36.3M | 6.2% | +198% | — |
| 2 | $TEVA | TEVA PHARMACEUTICAL INDUSTRIES LTD | $34.2M | 5.9% | +1% | — |
| 3 | $TSEM | TOWER SEMICONDUCTOR LTD | $25.6M | 4.4% | +19% | — |
| 4 | — | SPDR SERIES TRUST | $25.5M | — | +186% | — |
| 5 | $NVMI | NOVA LTD. | $23.2M | 4.0% | +12% | — |
| 6 | $BBIO | BridgeBio Pharma, Inc. | $18.2M | 3.1% | +128% | 31.7 |
| 7 | $CYTKCALL | CYTOKINETICS INC | $17.1M | — | NEW | 28 |
| 8 | $BIIB | BIOGEN INC. | $17.0M | 2.9% | -2% | 65.6 |
| 9 | $RARE | Ultragenyx Pharmaceutical Inc. | $17.0M | 2.9% | +169% | 31 |
| 10 | $SNDX | Syndax Pharmaceuticals Inc | $16.9M | 2.9% | -5% | 30 |
| 11 |  $COGT | Cogent Biosciences, Inc. | $16.0M | 2.8% | +10% | — |
| 12 |  $SNY | Sanofi | $13.0M | 2.2% | +13% | — |
| 13 |  $AZN | ASTRAZENECA PLC | $12.3M | 2.1% | -54% | — |
| 14 |  $FOLD | AMICUS THERAPEUTICS, INC. | $8.7M | 1.5% | -8% | 44.2 |
| 15 |  $CLBT | Cellebrite DI Ltd. | $8.7M | 1.5% | NEW | — |
| 16 |  $APLS | Apellis Pharmaceuticals, Inc. | $8.6M | 1.5% | -14% | 63.9 |
| 17 |  $PANW | Palo Alto Networks Inc | $8.5M | 1.5% | NEW | 66.5 |
| 18 |  $LLY | ELI LILLY & Co | $8.3M | 1.4% | +0% | 89.3 |
| 19 |  $BCRX | BIOCRYST PHARMACEUTICALS INC | $8.2M | 1.4% | +3% | 37.2 |
| 20 |  $CAMT | CAMTEK LTD | $8.0M | 1.4% | +34% | — |
| 21 |  $BMRN | BIOMARIN PHARMACEUTICAL INC | $7.9M | 1.4% | -5% | 74.1 |
| 22 |  $CLDX | Celldex Therapeutics, Inc. | $7.7M | 1.3% | +2% | 13.2 |
| 23 |  $ORA | ORMAT TECHNOLOGIES, INC. | $7.6M | 1.3% | NEW | 53.5 |
| 24 |  $XENE | Xenon Pharmaceuticals Inc. | $7.4M | 1.3% | NEW | 12.9 |
| 25 |  $SLNO | SOLENO THERAPEUTICS INC | $7.2M | 1.3% | +59% | 46.3 |
| 26 |  $TNGX | Tango Therapeutics, Inc. | $7.2M | 1.2% | -37% | 26.9 |
| 27 |  $JNJ | JOHNSON & JOHNSON | $7.0M | 1.2% | -20% | 72.8 |
| 28 | — | SOLAREDGE TECHNOLOGIES INC | $6.9M | 1.2% | +0% | — |
| 29 |  $IMTX | Immatics N.V. | $6.8M | 1.2% | -19% | — |
| 30 |  $TRVI | Trevi Therapeutics, Inc. | $6.8M | 1.2% | -4% | — |
| 31 |  $ORIC | Oric Pharmaceuticals, Inc. | $6.8M | 1.2% | -46% | — |
| 32 |  $MAZE | Maze Therapeutics, Inc. | $6.8M | 1.2% | +216% | 19.7 |
| 33 |  $GSK | GSK plc | $6.7M | 1.2% | +0% | — |
| 34 |  $AMZN | AMAZON COM INC | $6.7M | 1.1% | NEW | 74.6 |
| 35 |  $ABBV | AbbVie Inc. | $6.6M | 1.1% | +20% | 59.3 |
| 36 |  $AAOI | APPLIED OPTOELECTRONICS, INC. | $6.2M | 1.1% | NEW | 40.6 |
| 37 |  $ELVN | Enliven Therapeutics, Inc. | $6.0M | 1.0% | -32% | — |
| 38 |  $MRK | Merck & Co., Inc. | $5.8M | 1.0% | +0% | 70.9 |
| 39 |  $VOR | Vor Biopharma Inc. | $5.7M | 1.0% | -22% | — |
| 40 |  $ACAD | ACADIA PHARMACEUTICALS INC | $5.7M | 1.0% | +21% | 69.8 |
| 41 |  $NVS | NOVARTIS AG | $5.7M | 1.0% | +0% | — |
| 42 |  $ELDN | Eledon Pharmaceuticals, Inc. | $5.5M | 0.9% | -17% | — |
| 43 |  $ENPH | Enphase Energy, Inc. | $5.4M | 0.9% | -24% | 44.1 |
| 44 |  $RVMD | Revolution Medicines, Inc. | $5.4M | 0.9% | +5% | — |
| 45 |  $PFE | PFIZER INC | $5.2M | 0.9% | +116% | 69 |
| 46 |  $BHVN | Biohaven Ltd. | $5.0M | 0.9% | NEW | — |
| 47 |  $FBRX | Forte Biosciences, Inc. | $4.8M | 0.8% | -0% | — |
| 48 |  $HELP | CYBIN INC. | $4.7M | 0.8% | +20% | — |
| 49 |  $MDGL | MADRIGAL PHARMACEUTICALS, INC. | $4.7M | 0.8% | +174% | 25.4 |
| 50 |  $SRRK | Scholar Rock Holding Corp | $4.6M | 0.8% | -40% | — |
| 51 |  $NVO | NOVO NORDISK A S | $4.4M | 0.8% | +4% | — |
| 52 |  $MDWD | MediWound Ltd. | $4.4M | 0.8% | +19% | — |
| 53 |  $KOD | Kodiak Sciences Inc. | $4.4M | 0.8% | -35% | — |
| 54 |  $ZBIO | Zenas BioPharma, Inc. | $4.2M | 0.7% | NEW | 14.4 |
| 55 |  $PMN | ProMIS Neurosciences Inc. | $4.1M | 0.7% | +2658% | — |
| 56 | — | ISHARES TR | $4.1M | — | +0% | — |
| 57 |  $RLAY | Relay Therapeutics, Inc. | $4.1M | 0.7% | NEW | 12.7 |
| 58 |  $SVRA | Savara Inc | $4.0M | 0.7% | -37% | — |
| 59 |  $WVE | Wave Life Sciences Ltd. | $4.0M | 0.7% | +34% | — |
| 60 |  $CRVS | Corvus Pharmaceuticals, Inc. | $3.6M | 0.6% | -39% | — |
| 61 |  $OVID | Ovid Therapeutics Inc. | $3.6M | 0.6% | NEW | 13.1 |
| 62 |  $IRON | Disc Medicine, Inc. | $3.4M | 0.6% | NEW | — |
| 63 |  $UPB | Upstream Bio, Inc. | $3.2M | 0.6% | NEW | 22.6 |
| 64 |  $ACOG | Alpha Cognition Inc. | $3.1M | 0.5% | +0% | — |
| 65 |  $PALI | PALISADE BIO, INC. | $3.0M | 0.5% | +842% | — |
| 66 |  $DYN | Dyne Therapeutics, Inc. | $2.9M | 0.5% | -59% | — |
| 67 |  $CLYM | Climb Bio, Inc. | $2.9M | 0.5% | -55% | — |
| 68 |  $ZIM | ZIM Integrated Shipping Services Ltd. | $2.8M | 0.5% | -22% | — |
| 69 |  $MSLE | Satellos Bioscience Inc. | $2.8M | 0.5% | NEW | — |
| 70 |  $SEDG | SOLAREDGE TECHNOLOGIES, INC. | $2.7M | 0.5% | -73% | 25.9 |
| 71 |  $AMGN | AMGEN INC | $2.6M | 0.5% | +0% | 79.5 |
| 72 | $CYTK | CYTOKINETICS INC | $2.6M | 0.5% | -57% | 28 |
| 73 |  $GPCR | Structure Therapeutics Inc. | $2.4M | 0.4% | +24% | — |
| 74 |  $KURA | Kura Oncology, Inc. | $2.4M | 0.4% | +0% | 9.1 |
| 75 |  $GENB | Generate Biomedicines, Inc. | $2.3M | 0.4% | NEW | — |
| 76 |  $IBIT | iShares Bitcoin Trust ETF | $2.3M | 0.4% | +98% | — |
| 77 |  $CTNM | Contineum Therapeutics, Inc. | $2.3M | 0.4% | +0% | — |
| 78 |  $TENX | TENAX THERAPEUTICS, INC. | $2.2M | 0.4% | -28% | — |
| 79 |  $PRLD | Prelude Therapeutics Inc | $1.9M | 0.3% | +355% | 27 |
| 80 |  $ASND | Ascendis Pharma A/S | $1.8M | 0.3% | -27% | 41.5 |
| 81 |  $VSTM | Verastem, Inc. | $1.8M | 0.3% | +0% | 40.8 |
| 82 |  $VYGR | Voyager Therapeutics, Inc. | $1.8M | 0.3% | +38% | 5.5 |
| 83 |  $STTK | Shattuck Labs, Inc. | $1.8M | 0.3% | +44% | — |
| 84 |  $EVMN | Evommune, Inc. | $1.8M | 0.3% | -53% | — |
| 85 |  $BIOA | BioAge Labs, Inc. | $1.5M | 0.3% | -64% | 28.6 |
| 86 |  $OLMACALL | Olema Pharmaceuticals, Inc. | $1.5M | — | NEW | — |
| 87 |  $ORGO | Organogenesis Holdings Inc. | $1.3M | 0.2% | NEW | 20.5 |
| 88 |  $CRIS | CURIS INC | $1.1M | 0.2% | NEW | — |
| 89 |  $BMY | BRISTOL MYERS SQUIBB CO | $1.1M | 0.2% | +0% | 70.1 |
| 90 |  $CTMX | CytomX Therapeutics, Inc. | $1.0M | 0.2% | NEW | 19.1 |
| 91 |  $NICE | NICE Ltd. | $618,669 | 0.1% | NEW | — |
| 92 |  $HOWL | Werewolf Therapeutics, Inc. | $521,882 | 0.1% | +0% | — |
| 93 |  $SKYE | Skye Bioscience, Inc. | $417,269 | 0.1% | +42% | — |
| 94 |  $DTIL | PRECISION BIOSCIENCES INC | $220,000 | 0.0% | -90% | 3.9 |
| 95 |  $APRE | Aprea Therapeutics, Inc. | $205,983 | 0.0% | +0% | — |
| 96 |  $FHTX | Foghorn Therapeutics Inc. | $58,431 | 0.0% | NEW | 11.2 |
New Positions (21)
$CYTKCALL CYTOKINETICS INC$17.1M$CLBT Cellebrite DI Ltd.$8.7M$PANW Palo Alto Networks Inc$8.5M$ORA ORMAT TECHNOLOGIES, INC.$7.6M$XENE Xenon Pharmaceuticals Inc.$7.4M$AMZN AMAZON COM INC$6.7M$AAOI APPLIED OPTOELECTRONICS, INC.$6.2M$BHVN Biohaven Ltd.$5.0M$ZBIO Zenas BioPharma, Inc.$4.2M$RLAY Relay Therapeutics, Inc.$4.1M$OVID Ovid Therapeutics Inc.$3.6M$IRON Disc Medicine, Inc.$3.4M$UPB Upstream Bio, Inc.$3.2M$MSLE Satellos Bioscience Inc.$2.8M$GENB Generate Biomedicines, Inc.$2.3MExited Positions (24)
$PRAXCALL Praxis Precision Medicines, Inc.$RARECALL Ultragenyx Pharmaceutical Inc.
$ANNX Annexon, Inc.$NICECALL NICE Ltd.
$AMD ADVANCED MICRO DEVICES INC
$TARA Protara Therapeutics, Inc.
$AVGO Broadcom Inc.
$ESLT ELBIT SYSTEMS LTD
$NRIX Nurix Therapeutics, Inc.
$JANX Janux Therapeutics, Inc.
$TSHA Taysha Gene Therapies, Inc.
$PHVS Pharvaris N.V.
$VRNS VARONIS SYSTEMS INC
$VTYX Ventyx Biosciences, Inc.Browse Top Institutional Investors
13F Pro tracks 8,700+ institutional investors filing 13F reports with the SEC.
to search all 8,700+ institutional filers.
Available Analysis
13F Pro tracks comprehensive institutional data for SPHERA FUNDS MANAGEMENT LTD. including:
Track SPHERA FUNDS MANAGEMENT LTD.'s Full Portfolio
See every holding, quarter-over-quarter changes, sector allocation, and accumulation patterns for SPHERA FUNDS MANAGEMENT LTD. and 8,700+ other institutional investors.
Free tier includes full 13F search and fund profiles. Pro starts at $6.67/mo (billed annually).
AI-Powered Hedge Fund Analysis: SPHERA FUNDS MANAGEMENT LTD.
13F Pro is an AI hedge fund tracker and stock research platform. For SPHERA FUNDS MANAGEMENT LTD. (SEC CIK: 1496201), the platform ingests every quarterly Form 13F filing and applies AI-powered analysis on top — 10 specialized AI analysts (value, growth, momentum, macro, activist, and more) debate the fund's top positions and publish AI-generated analysis with cited SEC sources.
Every holding in SPHERA FUNDS MANAGEMENT LTD.'s portfolio is scored on a 32-signal AI quality ranking (ROIC, FCF margin, revenue growth, institutional flow, earnings quality, shareholder dilution, and more). Track accumulation and distribution quarter over quarter, identify conviction positions, and see AI stock analysis for each position — alongside 8,700+ other institutional filers and 2,800+ AI-ranked companies.