SPHERA FUNDS MANAGEMENT LTD.
Exempt adviserReports for
Sphera Global Healthcare Management LP
Sphera Global Healthcare GP Ltd.
Filing Date
Global Rank
#2,985
/ 8,817
▲ 191
Top Industry
Biotechnology
64.0%
Period ended 4 months ago
Filed Aug 14, 2026 · 2mo
26 quarters · since Mar 2020
Regulatory profile
From Form ADV, the SEC filer profile, 13D/13G type codes and N-CEN, never from the name.
Holder type
Exempt adviser
Form ADV roster, Oct 1, 2026
Private funds
1 fund
· Hedge funds
Focus by fund count, roster of Oct 1, 2026
$849,654,447 gross assets
LEI
254900DT9451Z70GV733
Private funds on Schedule D 7.B.(1)
As filed Mar 6, 2024; SEC's bulk Form ADV archive ends with 2024 filings.
$640,439,412 gross assets in 1 fund
Hedge funds
$640,439,412
(1)
Form ADV history
Monthly rosters from Dec 2019; each row is a run with the same figures, newest first.
| Rosters | Regulatory AUM | Main clients |
|---|---|---|
| Apr 2026 to Oct 2026 | — | — |
| Apr 2025 to Mar 2026 | — | — |
| Apr 2024 to Mar 2025 | — | — |
| Jun 2023 to Mar 2024 | — | — |
| May 2023 | $0 | — |
| Apr 2021 to Apr 2023 | — | — |
Portfolio style
Measured from the filed 13F common-share book for Jun 30, 2026, never from the firm's own description.
Style
Diversified active
Top 10 weight 37.2%, 44.1 effective positions, active share 94.0% against the S&P 500 as of 2026-06-30; it meets none of the index-like, systematic-like or concentrated tests
Turnover
Medium turnover
99.9% over the last four quarters (30% to under 100%)
Horizon
Horizon unknown
The value-weighted holding period is at least 9.5 quarters, but 5.4% of the book was already held when coverage starts
Closest benchmark: the S&P 500 as of 2026-06-30, active share 94.0%; sector active share 80.5% against the combined 13F book's sector weights.
Over time 26 measured quarters
How the bands are measured
Style bands measure the filed 13F common-share book each closed quarter, tested in this order. Unknown: under $10,000,000 of valued equity or 5 stocks. Index-like (100+ stocks): active share of 20% or less against the closest benchmark, which is the S&P 500, S&P MidCap 400, S&P SmallCap 600, Russell 1000, Russell 2000, Nasdaq-100 or Dow Jones Industrial Average (weighted by an index-tracking fund's reported holdings or the index's constituents nearest the quarter end, over the names resolved to companies, and only when those are 90%+ of its weight) or every 13F filer's combined book, or index series holding 80%+ of the registered fund assets it advises (N-CEN) and equal to 50%+ of its book. Systematic-like: 500+ stocks, 100%+ annual turnover and a top 10 weight of 25% or less. Concentrated: a top 10 weight of 60%+ or 12 or fewer effective positions. Diversified active: none of these. Turnover is the smaller of buys and sells over average equity value, summed over four quarters: low under 30%, high 100%+. Horizon is the value-weighted number of quarters each position has been held: short under 4, long 12+.
Clone Performance
Build a hypothetical price-return history from this filer's public 13F holdings.
View clone backtestPortfolio Concentration
100 tracked positions · as of Jun 30, 2026 · Δ vs Mar 31, 2026Top Position
6.7%
+0.7 pts
Top 5
25.0%
+0.8 pts
Top 10
38.7%
−0.4 pts
HHI
230
Diversified−1
Portfolio Trend
26 quarters · across all stocks
Sector Breakdown
As of Jun 30, 2026| Sector | % Portfolio | Value |
|---|---|---|
| Healthcare | 86.7% | $652,445,388 |
| Technology | 7.7% | $57,868,970 |
| Unclassified | 3.7% | $27,799,240 |
| Utilities | 2.0% | $14,831,925 |
Last Quarter's Activity
Export CSVAdded To
Positions the filer increased
25 positions
| Ticker | Company | Δ Shares | Shares | Value | Open |
|---|---|---|---|---|---|
| CTMX | CytomX Therapeutics, Inc. | +659,000 | 879,000 | $3,296,250 | |
| HELP | Helus Pharma Inc. | +633,663 | 1,620,753 | $10,713,177 | |
| PALI | Palisade Bio, Inc. | +523,635 | 2,257,106 | $4,717,351 | |
| PRLD | Prelude Therapeutics Inc | +461,493 | 1,019,832 | $5,435,704 | |
| TEVA | Teva Pharmaceutical Industries Ltd | +363,107 | 1,500,082 | $50,822,778 | |
| SNDX | Syndax Pharmaceuticals Inc | +290,043 | 1,014,606 | $22,179,287 | |
| VSTM | Verastem, Inc. | +288,954 | 632,632 | $2,416,654 | |
| ORIC | Oric Pharmaceuticals, Inc. | +215,355 | 752,983 | $8,154,805 | |
| MAZE | Maze Therapeutics, Inc. | +190,221 | 417,564 | $12,460,109 | |
| BMRN | Biomarin Pharmaceutical Inc | +188,650 | 328,550 | $18,799,631 | |
| CYTK | Cytokinetics Inc | +180,170 | 219,987 | $18,740,692 | |
| MSLE | Satellos Bioscience Inc. | +163,383 | 652,590 | $5,073,887 | |
| MLYS | Mineralys Therapeutics, Inc. | +130,000 | 1,469,971 | $39,659,817 | |
| BIOA | BioAge Labs, Inc. | +127,153 | 213,671 | $5,237,076 | |
| ACAD | Acadia Pharmaceuticals Inc | +100,332 | 356,534 | $9,020,310 | |
| PFE | Pfizer Inc | +100,000 | 286,000 | $6,886,880 | |
| VOR | Vor Biopharma Inc. | +94,500 | 416,417 | $7,666,236 | |
| WVE | Wave Life Sciences, Inc. | +90,000 | 638,272 | $3,708,360 | |
| — | +64,709 | 249,693 | $5,305,976 | ||
| CLYM | Climb Bio, Inc. | +64,500 | 483,747 | $6,308,060 | |
| GENB | Generate Biomedicines, Inc. | +60,000 | 245,000 | $4,133,150 | |
| COGT | Cogent Biosciences, Inc. | +43,000 | 459,340 | $17,776,458 | |
| DYN | Dyne Therapeutics, Inc. | +39,000 | 199,594 | $4,432,982 | |
| IMTX | Immatics N.V. | +23,952 | 720,057 | $7,294,177 | |
| SVRA | Savara Inc | +17,000 | 756,164 | $4,657,970 | |
| No positions match the current search. | |||||
Trimmed
Positions the filer reduced
25 positions
| Ticker | Company | Δ Shares | Shares | Value | Open |
|---|---|---|---|---|---|
| CRIS | Curis Inc | −1,895,941 | 98,996 | $51,477 | |
| ELDN | Eledon Pharmaceuticals, Inc. | −580,944 | 1,191,187 | $4,693,276 | |
| BCRX | Biocryst Pharmaceuticals Inc | −444,413 | 422,051 | $4,220,510 | |
| BHVN | Biohaven Ltd. | −429,563 | 164,437 | $2,446,822 | |
| OVID | Ovid Therapeutics Inc. | −269,828 | 1,353,000 | $3,639,570 | |
| RARE | Ultragenyx Pharmaceutical Inc. | −220,839 | 588,494 | $19,649,814 | |
| STTK | Shattuck Labs, Inc. | −194,325 | 86,461 | $600,039 | |
| RLAY | Relay Therapeutics, Inc. | −174,600 | 233,836 | $4,375,071 | |
| UPB | Upstream Bio, Inc. | −138,300 | 219,700 | $1,520,324 | |
| TNGX | Tango Therapeutics, Inc. | −89,313 | 254,250 | $7,947,855 | |
| TRVI | Trevi Therapeutics, Inc. | −75,000 | 499,029 | $9,306,890 | |
| EVMN | Evommune, Inc. | −55,602 | 22,632 | $300,779 | |
| VYGR | Voyager Therapeutics, Inc. | −42,207 | 427,554 | $1,496,439 | |
| ELVN | Enliven Therapeutics, Inc. | −40,500 | 112,765 | $5,722,823 | |
| ORA | Ormat Technologies, Inc. | −40,235 | 28,015 | $3,050,833 | |
| TSEM | Tower Semiconductor Ltd | −37,470 | 108,265 | $28,218,189 | |
| KOD | Kodiak Sciences Inc. | −33,000 | 81,796 | $3,186,772 | |
| RVMD | Revolution Medicines, Inc. | −32,710 | 22,400 | $4,195,072 | |
| NVMI | Nova Ltd. | −28,197 | 25,169 | $13,665,256 | |
| GPCR | Structure Therapeutics Inc. | −22,200 | 28,600 | $1,534,962 | |
| XENE | Xenon Pharmaceuticals Inc. | −22,000 | 105,000 | $6,337,800 | |
| ACOG | Alpha Cognition Inc. | −21,800 | 545,816 | $3,940,791 | |
| GSK | GSK plc | −20,000 | 102,000 | $5,346,840 | |
| TENX | Tenax Therapeutics, Inc. | −15,815 | 120,200 | $1,748,910 | |
| CRVS | Corvus Pharmaceuticals, Inc. | −3,000 | 244,961 | $3,659,717 | |
| No positions match the current search. | |||||
New Positions
Positions the filer opened this quarter
22 positions
| Ticker | Company | Shares | Value | Open |
|---|---|---|---|---|
| INSM | INSMED Inc | 118,800 | $12,666,456 | |
| RYTM | Rhythm Pharmaceuticals, Inc. | 80,400 | $8,926,812 | |
| LRCX | Lam Research Corp | 18,470 | $8,003,605 | |
| AMAT | Applied Materials Inc | 11,040 | $7,981,920 | |
| IDYA | IDEAYA Biosciences, Inc. | 196,408 | $7,320,126 | |
| NVCT | Nuvectis Pharma, Inc. | 382,945 | $7,042,358 | |
| HRMY | Harmony Biosciences Holdings, Inc. | 176,663 | $6,432,299 | |
| VST | Vistra Corp. | 29,450 | $4,671,653 | |
| TLN | Talen Energy Corp | 12,135 | $4,662,995 | |
| AVTX | Avalo Therapeutics, Inc. | 232,294 | $4,292,793 | |
| CABA | Cabaletta Bio, Inc. | 1,329,012 | $4,133,227 | |
| BBOT | BridgeBio Oncology Therapeutics, Inc. | 460,985 | $3,512,705 | |
| PRQR | ProQR Therapeutics N.V. | 1,757,458 | $3,268,871 | |
| ALNY | Alnylam Pharmaceuticals, Inc. | 10,800 | $3,251,124 | |
| LRMR | Larimar Therapeutics, Inc. | 926,004 | $2,824,312 | |
| IMMX | Immix Biopharma, Inc. | 270,000 | $2,783,700 | |
| CEG | Constellation Energy Corp | 9,850 | $2,446,444 | |
| TSHA | Taysha Gene Therapies, Inc. | 250,000 | $1,702,500 | |
| IKT | Inhibikase Therapeutics, Inc. | 649,309 | $1,318,097 | |
| TRAX | First Tracks Biotherapeutics, Inc. | 27,876 | $560,865 | |
| TRAW | Traws Pharma, Inc. | 398,486 | $334,728 | |
| CLOU | Global X Cloud Computing ETF | 195,900 | $0 | |
| No positions match the current search. | ||||
Sold Out
Positions the filer fully exited
17 positions
| Ticker | Company | Shares | Value | Open |
|---|---|---|---|---|
| CLBT | Cellebrite DI Ltd. | 631,521 | $8,702,359 | |
| PANW | Palo Alto Networks Inc | 52,800 | $8,464,896 | |
| CAMT | Camtek Ltd | 53,020 | $8,038,362 | |
| AMZN | Amazon Com Inc | 31,940 | $6,652,143 | |
| AAOI | Applied Optoelectronics, Inc. | 73,400 | $6,208,906 | |
| ENPH | Enphase Energy, Inc. | 142,419 | $5,384,862 | |
| ZIM | ZIM Integrated Shipping Services Ltd. | 105,950 | $2,791,782 | |
| SEDG | Solaredge Technologies, Inc. | 52,836 | $2,697,277 | |
| IBIT | iShares Bitcoin Trust ETF | 59,505 | $2,286,182 | |
| ASND | Ascendis Pharma A/S | 8,000 | $1,829,840 | |
| BMY | Bristol Myers Squibb Co | 17,500 | $1,061,375 | |
| NICE | NICE Ltd. | 5,611 | $618,668 | |
| DTIL | Precision Biosciences Inc | 40,000 | $220,000 | |
| FHTX | Foghorn Therapeutics Inc. | 12,224 | $58,430 | |
| — | 214,914 | $0 | ||
| — | 216,281 | $0 | ||
| — | 603,377 | $0 | ||
| No positions match the current search. | ||||
100 tracked positions ·
$752,945,523 total
· filing declares
106 positions · $766,539,858
· as of Jun 30, 2026
Showing 1–50
of 100 positions by value
· page 1 of 2
| Ticker | Company | Type | Shares | Value (USD) | % of Portfolio | History |
|---|---|---|---|---|---|---|
| TEVA |
Teva Pharmaceutical Industries Ltd
Healthcare
|
Added | 1,500,082 | $50,822,778 | 6.75% | |
| BIIB |
Biogen Inc.
CALL
+ SHARES
Healthcare
|
Added | 196,626 | $42,483,013 | 5.64% | |
| MLYS |
Mineralys Therapeutics, Inc.
Healthcare
|
Added | 1,469,971 | $39,659,817 | 5.27% | |
| TSEM |
Tower Semiconductor Ltd
Technology
|
Reduced | 108,265 | $28,218,189 | 3.75% | |
| CYTK |
Cytokinetics Inc
CALL
+ SHARES
Healthcare
|
Added | 319,987 | $27,259,692 | 3.62% | |
| XBI |
State Street(R) SPDR(R) S&P(R) Biotech ETF
PUT
|
Reduced | 150,000 | $23,737,500 | 3.15% | |
| SNDX |
Syndax Pharmaceuticals Inc
Healthcare
|
Added | 1,014,606 | $22,179,287 | 2.95% | |
| RARE |
Ultragenyx Pharmaceutical Inc.
Healthcare
|
Reduced | 588,494 | $19,649,814 | 2.61% | |
| BMRN |
Biomarin Pharmaceutical Inc
Healthcare
|
Added | 328,550 | $18,799,631 | 2.50% | |
| BBIO |
BridgeBio Pharma, Inc.
Healthcare
|
Added | 245,346 | $18,273,370 | 2.43% | |
| COGT |
Cogent Biosciences, Inc.
Healthcare
|
Added | 459,340 | $17,776,458 | 2.36% | |
| NVMI |
Nova Ltd.
Technology
|
Reduced | 25,169 | $13,665,256 | 1.81% | |
| INSM |
INSMED Inc
Healthcare
|
NEW | 118,800 | $12,666,456 | 1.68% | |
| MAZE |
Maze Therapeutics, Inc.
Healthcare
|
Added | 417,564 | $12,460,109 | 1.65% | |
| AZN |
Astrazeneca PLC
Healthcare
|
Held | 62,530 | $11,856,938 | 1.57% | |
| SNY |
Sanofi
Healthcare
|
Held | 269,515 | $11,497,509 | 1.53% | |
| HELP |
Helus Pharma Inc.
Healthcare
|
Added | 1,620,753 | $10,713,177 | 1.42% | |
| LLY |
ELI LILLY & Co
Healthcare
|
Reduced | 8,040 | $9,643,418 | 1.28% | |
| MDGL |
Madrigal Pharmaceuticals, Inc.
Healthcare
|
Added | 17,419 | $9,353,132 | 1.24% | |
| TRVI |
Trevi Therapeutics, Inc.
Healthcare
|
Reduced | 499,029 | $9,306,890 | 1.24% | |
| ORIC |
Oric Pharmaceuticals, Inc.
CALL
+ SHARES
Healthcare
|
Added | 852,983 | $9,237,805 | 1.23% | |
| ACAD |
Acadia Pharmaceuticals Inc
Healthcare
|
Added | 356,534 | $9,020,310 | 1.20% | |
| CLDX |
Celldex Therapeutics, Inc.
Healthcare
|
Reduced | 240,868 | $8,962,698 | 1.19% | |
| RYTM |
Rhythm Pharmaceuticals, Inc.
Healthcare
|
NEW | 80,400 | $8,926,812 | 1.19% | |
| LRCX |
Lam Research Corp
Technology
|
NEW | 18,470 | $8,003,605 | 1.06% | |
| AMAT |
Applied Materials Inc
Technology
|
NEW | 11,040 | $7,981,920 | 1.06% | |
| TNGX |
Tango Therapeutics, Inc.
Healthcare
|
Reduced | 254,250 | $7,947,855 | 1.06% | |
| NVS |
Novartis AG
Healthcare
|
Added | 50,000 | $7,836,000 | 1.04% | |
| VOR |
Vor Biopharma Inc.
Healthcare
|
Added | 416,417 | $7,666,236 | 1.02% | |
| ABBV |
AbbVie Inc.
Healthcare
|
Held | 30,256 | $7,613,619 | 1.01% | |
| MRK |
Merck & Co., Inc.
Healthcare
|
Added | 58,600 | $7,530,100 | 1.00% | |
| JNJ |
Johnson & Johnson
Healthcare
|
Held | 28,831 | $7,322,209 | 0.97% | |
| IDYA |
IDEAYA Biosciences, Inc.
Healthcare
|
NEW | 196,408 | $7,320,126 | 0.97% | |
| IMTX |
Immatics N.V.
Healthcare
|
Added | 720,057 | $7,294,177 | 0.97% | |
| NVCT |
Nuvectis Pharma, Inc.
Healthcare
|
NEW | 382,945 | $7,042,358 | 0.94% | |
| PFE |
Pfizer Inc
Healthcare
|
Added | 286,000 | $6,886,880 | 0.91% | |
| HRMY |
Harmony Biosciences Holdings, Inc.
Healthcare
|
NEW | 176,663 | $6,432,299 | 0.85% | |
| XENE |
Xenon Pharmaceuticals Inc.
Healthcare
|
Reduced | 105,000 | $6,337,800 | 0.84% | |
| CLYM |
Climb Bio, Inc.
Healthcare
|
Added | 483,747 | $6,308,060 | 0.84% | |
| ZBIO |
Zenas BioPharma, Inc.
Healthcare
|
Added | 230,834 | $5,858,566 | 0.78% | |
| NVO |
Novo Nordisk A S
Healthcare
|
Held | 120,677 | $5,785,255 | 0.77% | |
| ELVN |
Enliven Therapeutics, Inc.
Healthcare
|
Reduced | 112,765 | $5,722,823 | 0.76% | |
| PRLD |
Prelude Therapeutics Inc
Healthcare
|
Added | 1,019,832 | $5,435,704 | 0.72% | |
| GSK |
GSK plc
Healthcare
|
Reduced | 102,000 | $5,346,840 | 0.71% | |
|
|
Added | 249,693 | $5,305,976 | 0.70% | ||
| BIOA |
BioAge Labs, Inc.
Healthcare
|
Added | 213,671 | $5,237,076 | 0.70% | |
| SRRK |
Scholar Rock Holding Corp
Healthcare
|
Held | 94,265 | $5,184,575 | 0.69% | |
| MSLE |
Satellos Bioscience Inc.
Healthcare
|
Added | 652,590 | $5,073,887 | 0.67% | |
| PALI |
Palisade Bio, Inc.
Healthcare
|
Added | 2,257,106 | $4,717,351 | 0.63% | |
| ELDN |
Eledon Pharmaceuticals, Inc.
Healthcare
|
Reduced | 1,191,187 | $4,693,276 | 0.62% |
Showing the top 50 of 100 positions. Create a free account to see every position, past quarters, search, filters and CSV export.
Covers the securities this platform tracks: U.S.-listed common stock and the put/call positions reported on it. A 13F can also report security types outside that coverage — preferred shares, bonds, warrants, untracked share classes — so the filing's own declared total can exceed the figures above. The source filing is linked at the top of this table.