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Asset Manager ← All Institutions

SPHERA FUNDS MANAGEMENT LTD.

Q2 2025 · Filed 2025-08-14
Market Value
$344M
-6.0%
Holdings
112
+6
New Purchases
14
Added To
22
Closed
25
Reduced
44
Top 10 Concentration
38.4%
Turnover
34.8%

Top Buys (by % of Portfolio)

SymbolCur %Prior %Chg %Value
TSEM 3.34% 0.60% +2.74% $11M
BIIB 3.02% 0.85% +2.17% $10M
CDTX 1.95% 0.10% +1.85% $7M
FOLD 1.65% 0.00% +1.65% $6M
NVDA 2.50% 0.88% +1.63% $9M
CYTK 3.14% 1.59% +1.55% $11M
NVMI 6.07% 4.57% +1.50% $21M
TEVA 7.90% 6.61% +1.29% $27M
TRVI 1.27% 0.00% +1.27% $4M
MSFT 1.71% 0.47% +1.23% $6M
ACAD 1.10% 0.00% +1.10% $4M
ORIC 1.16% 0.36% +0.81% $4M
ESLT 0.78% 0.00% +0.78% $3M
PANW 0.78% 0.00% +0.78% $3M
CYBR 0.47% 0.00% +0.47% $2M

Top Sells (by % of Portfolio)

SymbolCur %Prior %Chg %Value
BBIO 1.09% 3.46% -2.37% $4M
SRPT 0.79% 2.76% -1.96% $3M
RARE 1.06% 2.65% -1.59% $4M
SNY 3.08% 4.62% -1.53% $11M
NICE 0.00% 1.40% -1.40% $0
SNDX 4.28% 5.59% -1.31% $15M
MRUS 0.00% 1.23% -1.23% $0
VIGL 0.00% 0.78% -0.78% $0
ETNB 0.59% 1.23% -0.64% $2M
WDAY 0.00% 0.64% -0.64% $0
SWTX 0.00% 0.63% -0.63% $0
SEDG 0.76% 1.37% -0.61% $3M
ELDN 1.54% 2.14% -0.59% $5M
JNJ 1.81% 2.40% -0.58% $6M
GOOG 0.00% 0.58% -0.58% $0

Sector Allocation Over Time

Market Cap Concentration

TierHoldingsValueWeight
Mega Cap 13 $61M 17.6%
Large Cap 25 $123M 35.8%
Mid Cap 29 $84M 24.3%
Small Cap 31 $69M 20.0%
Micro Cap 14 $8M 2.3%

Portfolio Analytics

Avg Market Cap
$223.8B
Median Market Cap
$3.6B
Avg P/E
44.0
Median P/E
28.9
Avg Dividend Yield
0.00%
Avg Beta
0.88
# Stocks
111
# ETFs / Funds
1

Top Holdings (112 total)

# Symbol % Port Shares Value Avg Price Q/Q Value Chg Share Chg Chg % Status
1 TEVA 7.90% 1,620,990 $27M $16.76 $3M +48,809 +3.1%
2 NVMI 6.07% 75,836 $21M $275.20 $4M -14,861 -16.4%
3 SNDX 4.28% 1,571,564 $15M $9.37 -$6M -92,410 -5.5%
4 TSEM 3.34% 264,722 $11M $43.35 $9M +203,173 +330.1%
5 CYTK 3.14% 326,718 $11M $33.04 $5M +181,757 +125.4%
6 SNY 3.08% 219,515 $11M $48.31 -$6M -85,000 -27.9%
7 BIIB 3.02% 82,738 $10M $125.59 $7M +60,000 +263.9%
8 LLY 2.62% 11,540 $9M $779.53 -$659K -150 -1.3%
9 NVDA 2.50% 54,515 $9M $157.99 $5M +24,910 +84.1%
10 CLDX 2.48% 419,540 $9M $20.35 -$679K -88,289 -17.4%
11 NVO 2.12% 105,677 $7M $69.02 -$906K -12,403 -10.5%
12 AMZN 2.07% 32,441 $7M $219.39 $152K -4,166 -11.4%
13 CDTX 1.95% 138,001 $7M $48.71 $6M +120,873 +705.7%
14 ORA 1.90% 78,000 $7M $83.76 $589K -6,000 -7.1%
15 MLYS 1.89% 480,974 $7M $13.53 -$885K +15,448 +3.3%
16 META 1.83% 8,526 $6M $738.09 $551K -1,436 -14.4%
17 JNJ 1.81% 40,831 $6M $152.75 -$3M -12,000 -22.7%
18 MSFT 1.71% 11,792 $6M $497.41 $4M +7,200 +156.8%
19 FOLD 1.65% 990,718 $6M $5.73 +990,718 NEW
20 PHVS 1.59% 309,931 $5M $17.60 -$572K -73,925 -19.3%
21 ELDN 1.54% 1,959,610 $5M $2.71 -$3M -347,509 -15.1%
22 TVTX 1.44% 335,333 $5M $14.80 $1M +135,333 +67.7%
23 ABBV 1.36% 25,256 $5M $185.62 -$2M -5,000 -16.5%
24 GSK 1.36% 122,000 $5M $38.40 -$351K -8,000 -6.2%
25 NVS 1.30% 37,000 $4M $121.01 -$1M -13,000 -26.0%
26 TRVI 1.27% 799,957 $4M $5.47 +799,957 NEW
27 MAZE 1.27% 356,453 $4M $12.27 $459K +899 +0.2%
28 ANNX 1.23% 1,764,387 $4M $2.40 $829K
29 IMVT 1.19% 256,743 $4M $16.00 $782K +62,105 +31.9%
30 ORIC 1.16% 394,693 $4M $10.15 $3M +159,859 +68.1%
31 MRK 1.12% 48,600 $4M $79.16 -$2M -11,000 -18.5%
32 ACAD 1.10% 174,900 $4M $21.57 +174,900 NEW
33 BBIO 1.09% 87,108 $4M $43.18 -$9M -279,500 -76.2%
34 RARE 1.06% 100,085 $4M $36.36 -$6M -167,300 -62.6%
35 RNAM 1.04% 126,000 $4M $28.40 $449K +20,000 +18.9%
36 RZLT 0.97% 751,447 $3M $4.46 $215K -330,000 -30.5%
37 CYBN 0.97% 398,309 $3M $8.39 -$776 -128,913 -24.4%
38 AMAT 0.96% 18,000 $3M $183.07 $683K
39 ARWR 0.93% 202,996 $3M $15.80 -$329K -74,554 -26.9%
40 IMTX 0.91% 583,105 $3M $5.38 -$1M -338,006 -36.7%
41 SVRA 0.87% 1,310,233 $3M $2.28 -$570K +26,082 +2.0%
42 UBER 0.81% 30,000 $3M $93.30 $613K
43 SRPT 0.79% 159,323 $3M $17.10 -$7M +1,392 +0.9%
44 CAMT 0.79% 31,976 $3M $84.56 $1M +8,890 +38.5%
45 ESLT 0.78% 6,000 $3M $449.50 +6,000 NEW
46 PANW 0.78% 13,114 $3M $204.64 +13,114 NEW
47 WIX 0.78% 16,931 $3M $158.46 $1M +8,131 +92.4%
48 AMGN 0.77% 9,500 $3M $279.21 -$463K -500 -5.0%
49 SEDG 0.76% 127,966 $3M $20.40 -$2M -181,250 -58.6%
50 ELVN 0.75% 128,515 $3M $20.06 $379K +16,772 +15.0%
51 DYN 0.61% 221,416 $2M $9.52 -$1M -107,846 -32.8%
52 PFE 0.61% 86,000 $2M $24.24 -$196K -4,000 -4.4%
53 SRRK 0.59% 57,497 $2M $35.42 -$477K -20,696 -26.5%
54 ETNB 0.59% 205,675 $2M $9.82 -$2M -412,668 -66.7%
55 GPCR 0.58% 95,931 $2M $20.74 $536K +11,931 +14.2%
56 JANX 0.58% 85,840 $2M $23.10 -$1M -40,000 -31.8%
57 APLS 0.58% 114,346 $2M $17.31 -$2M -67,000 -37.0%
58 CRM 0.54% 6,800 $2M $272.69 -$588K -2,300 -25.3%
59 CYBR 0.47% 4,000 $2M $406.88 +4,000 NEW
60 MRVL 0.42% 18,730 $1M $77.40 $522K +3,660 +24.3%
61 ATXS 0.40% 257,402 $1M $5.36 $366K +67,602 +35.6%
62 KURA 0.40% 235,522 $1M $5.77 -$908K -108,000 -31.4%
63 IBIT 0.38% 21,455 $1M $61.21 $932K +13,305 +163.2%
64 NTLA 0.35% 128,780 $1M $9.38 -$2M -252,300 -66.2%
65 VTYX 0.35% 555,814 $1M $2.14 $25K -456,935 -45.1%
66 AMD 0.34% 8,250 $1M $141.90 +8,250 NEW
67 NNDM 0.34% 717,518 $1M $1.62 $22K
68 DAWN 0.33% 175,371 $1M $6.50 -$2M -159,616 -47.6%
69 CEVA 0.31% 48,920 $1M $21.98 -$178K
70 CATX 0.31% 310,343 $1M $3.44 $87K -149,904 -32.6%
71 COGT 0.30% 143,693 $1M $7.18 -$975K -191,331 -57.1%
72 KRYS 0.29% 7,335 $1M $137.46 +7,335 NEW
73 TSHA 0.28% 420,000 $970K $2.31 +420,000 NEW
74 PMN 0.27% 1,899,297 $919K $0.48 -$423K -30,000 -1.6%
75 BMY 0.24% 17,500 $810K $46.29 -$410K -2,500 -12.5%
76 CRVS 0.21% 183,094 $732K $4.00 $78K -22,765 -11.1%
77 HOWL 0.20% 626,810 $683K $1.09 $74K
78 0LOV.L 0.20% 163,307 $678K $4.15 +163,307 NEW
79 BCAX 0.18% 65,679 $610K $9.29 +65,679 NEW
80 LRMR 0.17% 196,635 $568K $2.89 -$219K -169,669 -46.3%
81 S 0.14% 27,000 $494K $18.28 +27,000 NEW
82 CGNT 0.12% 45,181 $417K $9.24 +45,181 NEW
83 CLYM 0.08% 209,837 $260K $1.24 -$35K -32,098 -13.3%
84 PEPG 0.05% 156,467 $174K $1.11 +156,467 NEW
85 OKUR 0.04% 60,454 $144K $2.39 -$201K -20,000 -24.9%
86 ELEV 0.04% 328,562 $121K $0.37 $28K -30,000 -8.4%
87 APLT —% 50,000 $16K $0.31 -$9K
88 VIR —% -$589K -90,855 -100.0% SOLD
89 WDAY —% -$2M -10,000 -100.0% SOLD
90 IONS —% -$2M -63,821 -100.0% SOLD
91 PERI —% -$835K -102,612 -100.0% SOLD
92 GOOG —% -$2M -13,500 -100.0% SOLD
93 RCKT —% -$2M -271,792 -100.0% SOLD
94 CHKP —% -$2M -8,334 -100.0% SOLD
95 NKE —% -$2M -30,050 -100.0% SOLD
96 ARVN —% -$878K -125,000 -100.0% SOLD
97 AVGO —% -$2M -11,695 -100.0% SOLD
98 NICE —% -$5M -33,303 -100.0% SOLD
99 XENE —% -$876K -26,097 -100.0% SOLD
100 ALEC —% -$134K -109,208 -100.0% SOLD

Options Breakdown

6 Calls $21M Call Value 2 Puts $19M Put Value 0.91 P/C Ratio

Top Calls

SymbolSharesValueStatus
RARE 180,600 $7M
MLTX 125,000 $6M NEW
TLT 47,000 $4M
SRPT 150,000 $3M NEW
COGT 200,000 $1M NEW
ELDN 31,200 $85K NEW

Top Puts

SymbolSharesValueStatus
XBI 200,000 $17M NEW
BBIO 49,900 $2M NEW

New Positions

SymbolValue% Port
FOLD $6M 1.65%
TRVI $4M 1.27%
ACAD $4M 1.10%
ESLT $3M 0.78%
PANW $3M 0.78%
CYBR $2M 0.47%
AMD $1M 0.34%
KRYS $1M 0.29%
TSHA $970K 0.28%
0LOV.L $678K 0.20%
BCAX $610K 0.18%
S $494K 0.14%
CGNT $417K 0.12%
PEPG $174K 0.05%

Sold Out Positions

SymbolValue% Port
NTR —%
NKE —%
ARVN —%
FATE —%
CHKP —%
IONS —%
ALEC —%
FROG —%
VKTX —%
RCKT —%
XENE —%
AVGO —%
GOOG —%
NICE —%
VIR —%
View SEC EDGAR Filings for SPHERA FUNDS MANAGEMENT LTD. →

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For informational purposes only. Not investment advice. Data sourced from SEC filings. Privacy Terms