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Asset Manager ← All Institutions

SPHERA FUNDS MANAGEMENT LTD.

Q3 2025 · Filed 2025-11-14
Market Value
$378M
+9.8%
Holdings
107
-5
New Purchases
20
Added To
20
Closed
19
Reduced
29
Top 10 Concentration
40.6%
Turnover
36.4%

Top Buys (by % of Portfolio)

SymbolCur %Prior %Chg %Value
NICE 6.03% 0.00% +6.03% $23M
QQQ 3.65% 0.00% +3.65% $14M
TSEM 5.97% 3.34% +2.63% $23M
RARE 2.81% 1.06% +1.75% $11M
CLBT 1.47% 0.00% +1.47% $6M
RAPP 1.24% 0.00% +1.24% $5M
VRNS 1.12% 0.00% +1.12% $4M
DYN 1.43% 0.61% +0.82% $5M
RVMD 0.74% 0.00% +0.74% $3M
IDYA 0.72% 0.00% +0.72% $3M
GPCR 1.29% 0.58% +0.71% $5M
SEDG 1.38% 0.76% +0.62% $5M
CRVS 0.80% 0.21% +0.58% $3M
AVGO 0.57% 0.00% +0.57% $2M
TECX 0.48% 0.00% +0.48% $2M

Top Sells (by % of Portfolio)

SymbolCur %Prior %Chg %Value
SNDX 1.58% 4.28% -2.70% $6M
NVDA 0.00% 2.50% -2.50% $0
NVMI 3.72% 6.07% -2.35% $14M
MSFT 0.00% 1.71% -1.71% $0
TVTX 0.00% 1.44% -1.44% $0
AMZN 0.80% 2.07% -1.27% $3M
ORA 0.74% 1.90% -1.16% $3M
META 0.76% 1.83% -1.07% $3M
CLDX 1.42% 2.48% -1.06% $5M
RNAM 0.00% 1.04% -1.04% $0
AMAT 0.00% 0.96% -0.96% $0
ARWR 0.11% 0.93% -0.82% $431K
UBER 0.00% 0.81% -0.81% $0
PHVS 0.79% 1.59% -0.80% $3M
SRPT 0.00% 0.79% -0.79% $0

Sector Allocation Over Time

Market Cap Concentration

TierHoldingsValueWeight
Mega Cap 13 $54M 14.4%
Large Cap 22 $117M 30.9%
Mid Cap 30 $122M 32.4%
Small Cap 31 $75M 19.8%
Micro Cap 11 $10M 2.5%

Portfolio Analytics

Avg Market Cap
$194.5B
Median Market Cap
$3.3B
Avg P/E
47.2
Median P/E
32.1
Avg Dividend Yield
0.00%
Avg Beta
0.85
# Stocks
105
# ETFs / Funds
2

Top Holdings (107 total)

# Symbol % Port Shares Value Avg Price Q/Q Value Chg Share Chg Chg % Status
1 TEVA 8.06% 1,507,025 $30M $20.20 $3M -113,965 -7.0%
2 NICE 6.03% 157,400 $23M $144.78 +157,400 NEW
3 TSEM 5.97% 311,802 $23M $72.30 $11M +47,080 +17.8%
4 NVMI 3.72% 43,896 $14M $319.66 -$7M -31,940 -42.1%
5 QQQ 3.65% 22,960 $14M $600.37 +22,960 NEW
6 BIIB 3.07% 82,738 $12M $140.08 $1M
7 RARE 2.81% 352,558 $11M $30.08 $7M +252,473 +252.3%
8 SNY 2.74% 219,515 $10M $47.20 -$244K
9 CYTK 2.35% 161,517 $9M $54.96 -$2M -165,201 -50.6%
10 MLYS 2.21% 219,910 $8M $37.92 $2M -261,064 -54.3%
11 FOLD 2.07% 991,142 $8M $7.88 $2M +424 +0.0%
12 LLY 2.03% 10,040 $8M $763.00 -$1M -1,500 -13.0%
13 JNJ 2.00% 40,831 $8M $185.42 $1M
14 CDTX 1.92% 75,743 $7M $95.76 $531K -62,258 -45.1%
15 SNDX 1.58% 387,716 $6M $15.39 -$9M -1,183,848 -75.3%
16 TRVI 1.56% 643,957 $6M $9.15 $2M -156,000 -19.5%
17 NVO 1.55% 105,677 $6M $55.49 -$1M
18 ABBV 1.55% 25,256 $6M $231.54 $1M
19 CLBT 1.47% 298,948 $6M $18.53 +298,948 NEW
20 ANNX 1.45% 1,794,387 $5M $3.05 $1M +30,000 +1.7%
21 DYN 1.43% 426,518 $5M $12.65 $3M +205,102 +92.6%
22 CLDX 1.42% 207,764 $5M $25.87 -$3M -211,776 -50.5%
23 GSK 1.39% 122,000 $5M $43.16 $581K
24 SEDG 1.38% 140,966 $5M $37.00 $3M +13,000 +10.2%
25 ORIC 1.37% 431,693 $5M $12.00 $1M +37,000 +9.4%
26 IMTX 1.32% 583,105 $5M $8.52 $2M
27 GPCR 1.29% 173,931 $5M $28.00 $3M +78,000 +81.3%
28 SVRA 1.28% 1,350,333 $5M $3.57 $2M +40,100 +3.1%
29 NVS 1.26% 37,000 $5M $128.24 $268K
30 RAPP 1.24% 157,533 $5M $29.70 +157,533 NEW
31 VRNS 1.12% 73,900 $4M $57.47 +73,900 NEW
32 IMVT 1.10% 256,743 $4M $16.12 $31K
33 MRK 1.08% 48,600 $4M $83.93 $232K
34 MAZE 1.06% 154,343 $4M $25.93 -$372K -202,110 -56.7%
35 ESLT 0.91% 6,740 $3M $509.80 $739K +740 +12.3%
36 RZLT 0.91% 363,947 $3M $9.40 $70K -387,500 -51.6%
37 ELVN 0.90% 166,765 $3M $20.47 $836K +38,250 +29.8%
38 ELDN 0.88% 1,280,233 $3M $2.59 -$2M -679,377 -34.7%
39 ACAD 0.84% 148,900 $3M $21.34 -$595K -26,000 -14.9%
40 CAMT 0.81% 29,048 $3M $105.05 $348K -2,928 -9.2%
41 AMZN 0.80% 13,760 $3M $219.57 -$4M -18,681 -57.6%
42 CRVS 0.80% 407,709 $3M $7.37 $2M +224,615 +122.7%
43 PHVS 0.79% 119,406 $3M $24.95 -$2M -190,525 -61.5%
44 META 0.76% 3,924 $3M $734.38 -$3M -4,602 -54.0%
45 RVMD 0.74% 60,000 $3M $46.70 +60,000 NEW
46 ORA 0.74% 29,000 $3M $96.25 -$4M -49,000 -62.8%
47 IDYA 0.72% 100,000 $3M $27.21 +100,000 NEW
48 AMGN 0.71% 9,500 $3M $282.20 $28K
49 AMD 0.66% 15,470 $3M $161.79 $1M +7,220 +87.5%
50 PFE 0.58% 86,000 $2M $25.48 $107K
51 CYBN 0.58% 370,376 $2M $5.89 -$1M -27,933 -7.0%
52 KURA 0.58% 245,522 $2M $8.85 $814K +10,000 +4.2%
53 AVGO 0.57% 6,555 $2M $329.91 +6,555 NEW
54 CEVA 0.57% 81,085 $2M $26.41 $1M +32,165 +65.8%
55 BBIO 0.56% 40,746 $2M $51.94 -$2M -46,362 -53.2%
56 JANX 0.56% 85,840 $2M $24.44 $115K
57 ATXS 0.48% 251,225 $2M $7.28 $449K -6,177 -2.4%
58 TECX 0.48% 115,908 $2M $15.69 +115,908 NEW
59 PCVX 0.48% 50,000 $2M $36.02 +50,000 NEW
60 CATX 0.46% 510,343 $2M $3.43 $683K +200,000 +64.4%
61 IMNM 0.46% 147,200 $2M $11.71 +147,200 NEW
62 MIST 0.43% 820,000 $2M $2.00 +820,000 NEW
63 QURE 0.38% 24,900 $1M $58.37 +24,900 NEW
64 APLS 0.38% 63,660 $1M $22.63 -$539K -50,686 -44.3%
65 COGT 0.37% 98,526 $1M $14.36 $383K -45,167 -31.4%
66 IBIT 0.37% 21,455 $1M $65.00 $81K
67 VTYX 0.36% 440,114 $1M $3.11 $179K -115,700 -20.8%
68 BCAX 0.36% 85,747 $1M $15.79 $744K +20,068 +30.6%
69 TSHA 0.35% 408,146 $1M $3.27 $364K -11,854 -2.8%
70 DAWN 0.33% 175,371 $1M $7.05 $96K
71 HOWL 0.33% 626,810 $1M $1.97 $552K
72 ENPH 0.25% 26,700 $945K $35.39 +26,700 NEW
73 VYGR 0.25% 199,761 $933K $4.67 +199,761 NEW
74 CLYM 0.23% 434,837 $874K $2.01 $614K +225,000 +107.2%
75 LRMR 0.22% 260,385 $841K $3.23 $273K +63,750 +32.4%
76 PEPG 0.21% 171,467 $792K $4.62 $618K +15,000 +9.6%
77 BMY 0.21% 17,500 $789K $45.10 -$21K
78 0LOV.L 0.18% 78,307 $691K $8.83 $14K -85,000 -52.0%
79 ROIV 0.17% 42,571 $644K $15.13 +42,571 NEW
80 ETNB 0.15% 39,675 $583K $14.70 -$1M -166,000 -80.7%
81 MLTX 0.13% 71,010 $509K $7.17 +71,010 NEW
82 CMMB 0.12% 179,425 $472K $2.63 +179,425 NEW
83 ARWR 0.11% 12,496 $431K $34.49 -$3M -190,500 -93.8%
84 WVE 0.10% 50,000 $366K $7.32 +50,000 NEW
85 OKUR 0.04% 60,454 $166K $2.75 $22K
86 DSGN 0.04% 21,918 $165K $7.53 +21,918 NEW
87 PMN 0.03% 295,187 $125K $0.42 -$793K -1,604,110 -84.5%
88 APLT 0.01% 50,000 $30K $0.60 $15K
89 NTLA —% -$1M -128,780 -100.0% SOLD
90 SRPT —% -$3M -159,323 -100.0% SOLD
91 NVDA —% -$9M -54,515 -100.0% SOLD
92 MSFT —% -$6M -11,792 -100.0% SOLD
93 WIX —% -$3M -16,931 -100.0% SOLD
94 NNDM —% -$1M -717,518 -100.0% SOLD
95 SRRK —% -$2M -57,497 -100.0% SOLD
96 CRM —% -$2M -6,800 -100.0% SOLD
97 TVTX —% -$5M -335,333 -100.0% SOLD
98 KRYS —% -$1M -7,335 -100.0% SOLD
99 RNAM —% -$4M -126,000 -100.0% SOLD
100 S —% -$494K -27,000 -100.0% SOLD

Options Breakdown

13 Calls $45M Call Value 4 Puts $5M Put Value 0.11 P/C Ratio

Top Calls

SymbolSharesValueStatus
MRUS 150,000 $14M NEW
CDTX 100,000 $10M NEW
BBIO 130,000 $7M NEW
TLT 47,000 $4M
SRPT 150,000 $3M
TVTX 101,800 $2M NEW
ROIV 151,600 $2M NEW
GPCR 50,000 $1M NEW
TRVI 129,200 $1M NEW
MLTX 10,000 $72K

Top Puts

SymbolSharesValueStatus
QURE 75,000 $4M NEW
ELDN 200,000 $518K NEW
BBIO $0 SOLD
XBI $0 SOLD

New Positions

SymbolValue% Port
NICE $23M 6.03%
QQQ $14M 3.65%
CLBT $6M 1.47%
RAPP $5M 1.24%
VRNS $4M 1.12%
RVMD $3M 0.74%
IDYA $3M 0.72%
AVGO $2M 0.57%
TECX $2M 0.48%
PCVX $2M 0.48%
IMNM $2M 0.46%
MIST $2M 0.43%
QURE $1M 0.38%
ENPH $945K 0.25%
VYGR $933K 0.25%

Sold Out Positions

SymbolValue% Port
SRRK —%
CRM —%
S —%
MRVL —%
AMAT —%
CGNT —%
PANW —%
NTLA —%
NNDM —%
UBER —%
TVTX —%
MSFT —%
NVDA —%
SRPT —%
KRYS —%
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