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Livermore
Livermore
ZHEN

Sphera Funds Management Ltd.

SEC CIK
0001496201
Latest filing
Aug 14, 2026

Holdings in Q2 2025

Holdings as of Jun 30, 2025, filed Aug 14, 2025. Long positions only; changes compare share counts with Q1 2025.

Institution overview
Positions
101
−11 vs. Q1 2025
Portfolio value
$382.5M
−$23.0M (−5.7%) vs. Q1 2025
Filed
Aug 14, 2025
SEC
Holdings of Sphera Funds Management Ltd. in Q2 2025
SecurityClassSharesValue% of portfolioShare changeActionHistory
TEVATeva Pharmaceutical Industries LtdSPONSORED ADS1,620,990$27.2M7.1%+48,809+3.1%AddedHistory
NVMINova Ltd.COM75,836$20.9M5.5%−14,861−16.4%ReducedHistory
SNDXSyndax Pharmaceuticals IncCOM1,571,564$14.7M3.8%−92,410−5.6%ReducedHistory
TSEMTower Semiconductor LtdSHS NEW264,722$11.5M3.0%+203,173+330.1%AddedHistory
CYTKCytokinetics IncCOM NEW326,718$10.8M2.8%+181,757+125.4%AddedHistory
SNYSanofiSPONSORED ADR219,515$10.6M2.8%−85,000−27.9%ReducedHistory
BIIBBiogen Inc.COM82,738$10.4M2.7%+60,000+263.9%AddedHistory
AZNAstraZeneca PLCSPONSORED ADR135,060$9.44M2.5%−40,000−22.8%ReducedHistory
LLYEli Lilly & CoStock11,540$9.00M2.4%−150−1.3%ReducedHistory
NVDANVIDIA CorpStock54,515$8.61M2.3%+24,910+84.1%AddedHistory
CLDXCelldex Therapeutics, Inc.COM NEW419,540$8.54M2.2%−88,289−17.4%ReducedHistory
NVONovo Nordisk A SADR105,677$7.29M1.9%−12,403−10.5%ReducedHistory
AMZNAmazon Com IncStock32,441$7.12M1.9%−4,166−11.4%ReducedHistory
CDTXCidara Therapeutics, Inc.COM NEW138,001$6.72M1.8%+120,873+705.7%AddedHistory
ORAOrmat Technologies, Inc.COM78,000$6.53M1.7%−6,000−7.1%ReducedHistory
MLYSMineralys Therapeutics, Inc.COM480,974$6.51M1.7%+15,448+3.3%AddedHistory
FBRXForte Biosciences, Inc.COM NEW495,109$6.40M1.7%+495,109NewHistory
METAMeta Platforms, Inc.Stock8,526$6.29M1.6%−1,436−14.4%ReducedHistory
JNJJohnson & JohnsonStock40,831$6.24M1.6%−12,000−22.7%ReducedHistory
MSFTMicrosoft CorpStock11,792$5.87M1.5%+7,200+156.8%AddedHistory
FOLDAmicus Therapeutics, Inc.COM990,718$5.68M1.5%+990,718NewHistory
Ormat Technologies, Inc.686688AC6DEBT 2.500% 7/15,037,000$5.61M1.5%00.0%Unchanged–
PHVSPharvaris N.V.COM309,931$5.45M1.4%−73,925−19.3%ReducedHistory
ELDNEledon Pharmaceuticals, Inc.COM1,959,610$5.31M1.4%−347,509−15.1%ReducedHistory
TVTXTravere Therapeutics, Inc.COM335,333$4.96M1.3%+135,333+67.7%AddedHistory
ABBVAbbVie Inc.Stock25,256$4.69M1.2%−5,000−16.5%ReducedHistory
GSKGSK plcADR122,000$4.68M1.2%−8,000−6.2%ReducedHistory
PRAXPraxis Precision Medicines, Inc.COM NEW109,757$4.62M1.2%−30,903−22.0%ReducedHistory
NVSNovartis AGADR37,000$4.48M1.2%−13,000−26.0%ReducedHistory
TRVITrevi Therapeutics, Inc.COM799,957$4.38M1.1%+799,957NewHistory
MAZEMaze Therapeutics, Inc.COM356,453$4.37M1.1%+899+0.3%AddedHistory
ANNXAnnexon, Inc.COM1,764,387$4.23M1.1%00.0%UnchangedHistory
IMVTImmunovant, Inc.COM256,743$4.11M1.1%+62,105+31.9%AddedHistory
ORICOric Pharmaceuticals, Inc.COM394,693$4.01M1.0%+159,859+68.1%AddedHistory
MRKMerck & Co., Inc.Stock48,600$3.85M1.0%−11,000−18.5%ReducedHistory
ACADAcadia Pharmaceuticals IncCOM174,900$3.77M1.0%+174,900NewHistory
BBIOBridgeBio Pharma, Inc.COM87,108$3.76M1.0%−279,500−76.2%ReducedHistory
RAREUltragenyx Pharmaceutical Inc.COM100,085$3.64M1.0%−167,300−62.6%ReducedHistory
Avidity Biosciences, Inc.05370A108COM126,000$3.58M0.9%+20,000+18.9%Added–
ACOGAlpha Cognition Inc.COM NEW376,649$3.51M0.9%−220,343−36.9%ReducedHistory
RZLTRezolute, Inc.COM NEW751,447$3.35M0.9%−330,000−30.5%ReducedHistory
HELPCybin Inc.COM NEW398,309$3.34M0.9%−128,913−24.5%ReducedHistory
AMATApplied Materials IncStock18,000$3.30M0.9%00.0%UnchangedHistory
ARWRArrowhead Pharmaceuticals, Inc.COM202,996$3.21M0.8%−74,554−26.9%ReducedHistory
IMTXImmatics N.V.SHS583,105$3.14M0.8%−338,006−36.7%ReducedHistory
SVRASavara IncCOM1,310,233$2.99M0.8%+26,082+2.0%AddedHistory
UBERUber Technologies, IncStock30,000$2.80M0.7%00.0%UnchangedHistory
SRPTSarepta Therapeutics, Inc.COM159,323$2.72M0.7%+1,392+0.9%AddedHistory
CAMTCamtek LtdORD31,976$2.70M0.7%+8,890+38.5%AddedHistory
ESLTElbit Systems LtdStock6,000$2.70M0.7%+6,000NewHistory
PANWPalo Alto Networks IncStock13,114$2.68M0.7%+13,114NewHistory
WIXWix.com Ltd.SHS16,931$2.68M0.7%+8,131+92.4%AddedHistory
AMGNAmgen IncStock9,500$2.65M0.7%−500−5.0%ReducedHistory
SEDGSolaredge Technologies, Inc.COM127,966$2.61M0.7%−181,250−58.6%ReducedHistory
ELVNEnliven Therapeutics, Inc.COM128,515$2.58M0.7%+16,772+15.0%AddedHistory
SKYESkye Bioscience, Inc.COM NEW538,434$2.25M0.6%−937,919−63.5%ReducedHistory
DYNDyne Therapeutics, Inc.COM221,416$2.11M0.6%−107,846−32.8%ReducedHistory
PFEPfizer IncStock86,000$2.08M0.5%−4,000−4.4%ReducedHistory
BHVNBiohaven Ltd.COM145,372$2.05M0.5%+45,588+45.7%AddedHistory
SRRKScholar Rock Holding CorpCOM57,497$2.04M0.5%−20,696−26.5%ReducedHistory
ETNB89bio, Inc.COM205,675$2.02M0.5%−412,668−66.7%ReducedHistory
GPCRStructure Therapeutics Inc.SPONSORED ADS95,931$1.99M0.5%+11,931+14.2%AddedHistory
JANXJanux Therapeutics, Inc.COM85,840$1.98M0.5%−40,000−31.8%ReducedHistory
APLSApellis Pharmaceuticals, Inc.COM114,346$1.98M0.5%−67,000−36.9%ReducedHistory
CRMSalesforce, Inc.Stock6,800$1.85M0.5%−2,300−25.3%ReducedHistory
ENGNenGene Therapeutics Inc.COM504,409$1.84M0.5%−23,956−4.5%ReducedHistory
Cyberark Software LtdM2682V108SHS4,000$1.63M0.4%+4,000New–
MRVLMarvell Technology, Inc.COM18,730$1.45M0.4%+3,660+24.3%AddedHistory
ATXSAstria Therapeutics, Inc.COM257,402$1.38M0.4%+67,602+35.6%AddedHistory
KURAKura Oncology, Inc.COM235,522$1.36M0.4%−108,000−31.4%ReducedHistory
IBITiShares Bitcoin Trust ETFETF21,455$1.31M0.3%+13,305+163.3%AddedHistory
NTLAIntellia Therapeutics, Inc.COM128,780$1.21M0.3%−252,300−66.2%ReducedHistory
VTYXVentyx Biosciences, Inc.COM555,814$1.19M0.3%−456,935−45.1%ReducedHistory
AMDAdvanced Micro Devices IncStock8,250$1.17M0.3%+8,250NewHistory
NNDMNano Dimension Ltd.SPONSORD ADS NEW717,518$1.16M0.3%00.0%UnchangedHistory
DAWNDay One Biopharmaceuticals, Inc.Stock175,371$1.14M0.3%−159,616−47.6%ReducedHistory
CEVACeva IncCOM48,920$1.08M0.3%00.0%UnchangedHistory
CATXPerspective Therapeutics, Inc.COM NEW310,343$1.07M0.3%−149,904−32.6%ReducedHistory
COGTCogent Biosciences, Inc.COM143,693$1.03M0.3%−191,331−57.1%ReducedHistory
KRYSKrystal Biotech, Inc.COM7,335$1.01M0.3%+7,335NewHistory
TSHATaysha Gene Therapies, Inc.COM SHS420,000$970.2K0.3%+420,000NewHistory
PMNProMIS Neurosciences Inc.COM1,899,297$918.9K0.2%−30,000−1.6%ReducedHistory
VTGNVistagen Therapeutics, Inc.COM447,939$895.9K0.2%−342,611−43.3%ReducedHistory
CMMBChemomab Therapeutics Ltd.SPONSORED ADS738,048$856.1K0.2%−162,380−18.0%ReducedHistory
BMYBristol Myers Squibb CoStock17,500$810.1K0.2%−2,500−12.5%ReducedHistory
CRVSCorvus Pharmaceuticals, Inc.COM183,094$732.4K0.2%−22,765−11.1%ReducedHistory
HOWLWerewolf Therapeutics, Inc.COM626,810$683.2K0.2%00.0%UnchangedHistory
VSTMVerastem, Inc.COM NEW163,307$677.7K0.2%+163,307NewHistory
BCAXBicara Therapeutics Inc.COM65,679$610.2K0.2%+65,679NewHistory
LRMRLarimar Therapeutics, Inc.COM196,635$568.3K0.1%−169,669−46.3%ReducedHistory
SSentinelOne, Inc.CL A27,000$493.6K0.1%+27,000NewHistory
APREAprea Therapeutics, Inc.COM NEW270,000$456.3K0.1%00.0%UnchangedHistory
CGNTCognyte Software Ltd.ORD SHS45,181$417.5K0.1%+45,181NewHistory
KZRKezar Life Sciences, Inc.COM58,539$268.1K0.1%−49,934−46.0%ReducedHistory
CLYMClimb Bio, Inc.COM209,837$260.2K0.1%−32,098−13.3%ReducedHistory
SLDBSolid Biosciences Inc.COM NEW50,190$244.4K0.1%+50,190NewHistory
PEPGPepGen Inc.COM156,467$173.7K<0.1%+156,467NewHistory
OKUROnKure Therapeutics, Inc.COM CL A60,454$144.5K<0.1%−20,000−24.9%ReducedHistory
ELEVElevation Acquisition Group Inc.COM328,562$120.6K<0.1%−30,000−8.4%ReducedHistory
JSPRJasper Therapeutics, Inc.COM NEW14,671$81.4K<0.1%−107,346−88.0%ReducedHistory

Options (9)

Puts and calls in the same filing. Amounts are the market value of the underlying shares, which is what 13F reports.

Option positions of Sphera Funds Management Ltd. in Q2 2025
SecurityClassPutsCalls
State Street SPDR S&P Biotech ETF78464A870ETF$16.6M–
RAREUltragenyx Pharmaceutical Inc.COM–$6.57M
MLTXMoonLake ImmunotherapeuticsCLASS A ORD–$5.90M
PRAXPraxis Precision Medicines, Inc.COM NEW–$4.21M
iShares Tr46428743220 YR TR BD ETF–$4.15M
SRPTSarepta Therapeutics, Inc.COM–$2.56M
BBIOBridgeBio Pharma, Inc.COM$2.15M–
COGTCogent Biosciences, Inc.COM–$1.44M
ELDNEledon Pharmaceuticals, Inc.COM–$84.6K

Sold out since Q1 2025 (27)

Positions held at the end of Q1 2025 that are gone from this filing.

Positions of Sphera Funds Management Ltd. sold out since Q1 2025
SecurityClassShares in Q1 2025Value in Q1 2025% of portfolio in Q1 2025History
NICENICE Ltd.SPONSORED ADR33,303$5.13M1.3%History
MRUSMerus N.V.COM106,532$4.48M1.1%History
VIGLVigil Neuroscience, Inc.COM1,604,429$2.86M0.7%History
WDAYWorkday, Inc.CL A10,000$2.34M0.6%History
SWTXSpringWorks Therapeutics, Inc.COM52,009$2.30M0.6%History
GOOGAlphabet Inc.Stock13,500$2.11M0.5%History
VKTXViking Therapeutics, Inc.COM83,270$2.01M0.5%History
AVGOBroadcom Inc.Stock11,695$1.96M0.5%History
IONSIonis Pharmaceuticals IncCOM63,821$1.93M0.5%History
NKENIKE, Inc.Stock30,050$1.91M0.5%History
CHKPCheck Point Software Technologies LtdORD8,334$1.90M0.5%History
RCKTRocket Pharmaceuticals, Inc.COM271,792$1.81M0.4%History
NTRNutrien Ltd.COM30,894$1.53M0.4%History
FROGJFrog LtdStock42,871$1.37M0.3%History
SHL Telemedicine Ltd78423T200ADS632,456$1.31M0.3%–
INZYInozyme Pharma, Inc.COM1,191,140$1.08M0.3%History
OTLKOutlook Therapeutics, Inc.Stock857,142$1.05M0.3%History
ARVNArvinas, Inc.COM125,000$877.5K0.2%History
XENEXenon Pharmaceuticals Inc.COM26,097$875.6K0.2%History
PERIPerion Network Ltd.SHS NEW102,612$835.3K0.2%History
RGLSRegulus Therapeutics Inc.COM452,845$792.5K0.2%History
VIRVir Biotechnology, Inc.COM90,855$588.7K0.1%History
ZURAZura Bio LtdCLASS A ORD SHS421,229$543.4K0.1%History
FATEFate Therapeutics IncCOM397,177$313.8K0.1%History
ALECAlector, Inc.COM109,208$134.3K<0.1%History
LVTXLAVA Therapeutics NVSHS48,420$61.5K<0.1%History
Immatics N.V.N44445117*W EXP 07/01/202100,000$1.58K<0.1%–