How is hedge fund similarity measured?

Similarity is computed from each fund's top conviction holdings in their latest 13F filing. Funds are scored by the overlap of distinctive shared positions (the mega-caps that nearly every fund owns are excluded), so the ranking reflects genuinely shared strategy rather than common index exposure.

Hedge Funds Similar to SPHERA FUNDS LTD.

13F Portfolio OverlapQ2 2026SPHERA FUNDS LTD. portfolio →

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Most similar hedge funds by 13F overlap

SPHERA FUNDS MANAGEMENT LTD. is an institutional investor managing $767M across 105 U.S. equity positions as of Q2 2026. Based on the overlap of conviction holdings in their latest 13F filings, the hedge funds with portfolios most similar to SPHERA FUNDS LTD. are Ishara Investments, Palo Alto Investors, Migdal Insurance & Financial Ltd., with shared positions in $RARE, $BMRN, $BBIO, $CYTK, $MLYS, $INSM. The full ranking of 25 similar funds is below.

#1Ishara Investments LPActive

Notable overlap · 9 shared positions

$RARE $BMRN $BBIO $CYTK $MLYS $INSM

$136M

41 positions

#2Palo Alto Investors LP

Notable overlap · 8 shared positions

$BIIB $RARE $SNDX $BMRN $INSM $CLDX

$724M

52 positions

#3Migdal Insurance & Financial Holdings Ltd.Active

Notable overlap · 4 shared positions

$TEVA $TSEM $NVMI $AZN

$15.6B

364 positions

#4First Turn Management, LLCActive

Notable overlap · 7 shared positions

$CYTK $BBIO $COGT $INSM $ORIC $RYTM

$935M

31 positions

#5Mivtachim The Workers Social Insurance Fund Ltd. (Under SpecActive

Notable overlap · 3 shared positions

$TEVA $TSEM $NVMI

$759M

41 positions

#6Clal Insurance Enterprises Holdings LtdActive

Notable overlap · 3 shared positions

$TEVA $TSEM $NVMI

$22.3B

224 positions

#7Phoenix Financial Ltd.Active

Notable overlap · 3 shared positions

$TEVA $TSEM $NVMI

$14.7B

522 positions

#8Harel Insurance Investments & Financial Services Ltd.Active

Notable overlap · 3 shared positions

$TEVA $TSEM $NVMI

$20.6B

535 positions

#9GordonMD Global Investments LPActive

Notable overlap · 4 shared positions

$TEVA $RARE $INSM $CLDX

$207M

16 positions

#10Integral Health Asset Management, LLCActive

Notable overlap · 9 shared positions

$CYTK $INSM $RYTM $TNGX $NVS $BIIB

$2.5B

92 positions

#11SILVERARC CAPITAL MANAGEMENT, LLCActive

Notable overlap · 8 shared positions

$SNDX $COGT $TRVI $ORIC $RYTM $BIIB

$962M

73 positions

#12Trails Edge Capital Partners, LPActive

Notable overlap · 5 shared positions

$CYTK $SNDX $BMRN $INSM $XENE

$630M

35 positions

#13Knott David M JrActive

Notable overlap · 8 shared positions

$SNDX $BBIO $COGT $HELP $MDGL $RARE

$189M

84 positions

#14RTW INVESTMENTS, LPActive

Notable overlap · 8 shared positions

$RARE $CYTK $INSM $MDGL $ACAD $TNGX

$11.7B

84 positions

#15Catalio Capital Management, LPActive

Notable overlap · 4 shared positions

$MLYS $SNDX $BBIO $RARE

$532M

39 positions

#16Exome Asset Management LLCActive

Notable overlap · 6 shared positions

$CYTK $COGT $MAZE $AZN $RYTM $INSM

$162M

52 positions

#17Affinity Asset Advisors, LLCActive

Notable overlap · 8 shared positions

$CYTK $INSM $COGT $TRVI $CLDX $MDGL

$2.2B

113 positions

#18Jones Hill Capital LPActive

Notable overlap · 7 shared positions

$BMRN $INSM $SNDX $MDGL $TRVI $ORIC

$470M

29 positions

#19Vestal Point Capital, LPActive

Notable overlap · 8 shared positions

$BMRN $AZN $SNY $TRVI $IMTX $XENE

$4.3B

68 positions

#20PSP Research LLCActive

Notable overlap · 7 shared positions

$RARE $COGT $SNDX $TRVI $ACAD $CLDX

$188M

75 positions

#21Sofinnova Ventures IncActive

Notable overlap · 7 shared positions

$RARE $COGT $RYTM $BMRN $IDYA $IMTX

$1.9B

57 positions

#22Logos Global Management LPActive

Notable overlap · 8 shared positions

$MAZE $COGT $TRVI $CLDX $MLYS $TNGX

$2.3B

68 positions

#23HealthInvest Partners ABActive

Notable overlap · 5 shared positions

$BIIB $BBIO $INSM $TNGX $IDYA

$372M

39 positions

#24Rock Springs Capital Management LPActive

Notable overlap · 8 shared positions

$INSM $RARE $MDGL $CLDX $RYTM $COGT

$2.0B

104 positions

#25Frazier Life Sciences Management, L.P.Smart money

Notable overlap · 6 shared positions

$BBIO $CYTK $MAZE $TRVI $VOR $ACAD

$4.6B

41 positions

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Similarity is derived from each fund’s latest 13F-HR filing with the SEC. Funds are ranked by the overlap of distinctive conviction holdings; near-universal mega-cap positions are excluded so the ranking reflects shared strategy, not common index exposure. Data is informational only and not investment advice.