SPHERA FUNDS MANAGEMENT LTD. — 13F Holdings & Portfolio
CIK 1496201 · latest 13F-HR filed 2026-08-14
SPHERA FUNDS MANAGEMENT LTD. manages $766.5M in 13F-reported U.S. long-equity assets across 106 reported positions as of its 2026-06-30 13F-HR filing. Its largest disclosed positions are TEVA (6.23%), MLYS (5.17%), TSEM (3.68%). Quarter over quarter (versus its 2026-03-31 filing) the fund opened 22 new positions, exited 17, added to 46, and trimmed 20.
AUM is the long-equity portion reported on Form 13F-HR. Excludes short positions, cash, foreign holdings, and non-13F assets. For informational purposes only — not investment advice.
29TH FLOOR
TEL AVIV, L3 6777520
$766.5M
Long-equity book
106
Distinct positions
2026-06-30
Filed 2026-08-14
+22 / −17 / ↑46 / ↓20
vs 2026-03-31
| Name | Title / Status | Ownership | Type |
|---|
Top Adds (vs prior quarter)
- TEVA PHARMACEUTICAL INDS LTD$16.6M +48.4%
- CYTOKINETICS INC$16.1M +614.1%
- BIOMARIN PHARMACEUTICAL INC$10.9M +137.9%
- CYBIN INC$6.0M +126.1%
- MAZE THERAPEUTICS INC$5.7M +83.6%
Top Trims
- NOVA LTD-$9.5M -41.0%
- ORMAT TECHNOLOGIES INC-$4.6M -60.1%
- BIOCRYST PHARMACEUTICALS INC-$4.0M -48.8%
- BIOHAVEN LTD-$2.6M -51.3%
- UPSTREAM BIO INC-$1.7M -52.8%
New Positions
- INSMED INC$12.7M
- RHYTHM PHARMACEUTICALS INC$8.9M
- LAM RESEARCH CORP$8.0M
- APPLIED MATLS INC$8.0M
- IDEAYA BIOSCIENCES INC$7.3M
Exited Positions
- AMICUS THERAPEUTIC$8.7M
- CELLEBRITE DI LTD$8.7M
- APELLIS PHARMACEUTICALS INC$8.6M
- PALO ALTO NETWORKS INC$8.5M
- CAMTEK LTD$8.0M
Rows tagged Call or Put are options positions, not stock. Per SEC Form 13F-HR, Value shows the notional value of the underlying (shares covered × underlying price), not the option premium. Shares is the number of underlying shares covered (divide by 100 for contract count).
| # | Issuer | Symbol | CUSIP | Value | Weight | Shares | Type |
|---|---|---|---|---|---|---|---|
| 1 | TEVA PHARMACEUTICAL INDS LTD | TEVA | 881624209 | $47.8M | 6.23% | 1,410,082 | SH |
| 2 | MINERALYS THERAPEUTICS INC | MLYS | 603170101 | $39.7M | 5.17% | 1,469,971 | SH |
| 3 | TOWER SEMICONDUCTOR LTD | TSEM | M87915274 | $28.2M | 3.68% | 108,265 | SH |
| 4 | SPDR SERIES TRUST Put | XBI | 78464A870 | $23.7M | 3.10% | 150,000 | SH |
| 5 | SYNDAX PHARMACEUTICALS INC | SNDX | 87164F105 | $22.2M | 2.89% | 1,014,606 | SH |
| 6 | BIOGEN INC Call | BIIB | 09062X103 | $21.6M | 2.82% | 100,000 | SH |
| 7 | BIOGEN INC | BIIB | 09062X103 | $20.9M | 2.72% | 96,626 | SH |
| 8 | ULTRAGENYX PHARMACEUTICAL IN | RARE | 90400D108 | $19.6M | 2.56% | 588,494 | SH |
| 9 | BIOMARIN PHARMACEUTICAL INC | BMRN | 09061G101 | $18.8M | 2.45% | 328,550 | SH |
| 10 | CYTOKINETICS INC | CYTK | 23282W605 | $18.7M | 2.44% | 219,987 | SH |
| 11 | BRIDGEBIO PHARMA INC | BBIO | 10806X102 | $18.3M | 2.38% | 245,346 | SH |
| 12 | COGENT BIOSCIENCES INC | COGT | 19240Q201 | $17.8M | 2.32% | 459,340 | SH |
| 13 | NOVA LTD | NVMI | M7516K103 | $13.7M | 1.78% | 25,169 | SH |
| 14 | INSMED INC | INSM | 457669307 | $12.7M | 1.65% | 118,800 | SH |
| 15 | MAZE THERAPEUTICS INC | MAZE | 578784100 | $12.5M | 1.63% | 417,564 | SH |
| 16 | ASTRAZENECA PLC | AZN | G0593M107 | $11.9M | 1.55% | 62,530 | SH |
| 17 | SANOFI SA | SNY | 80105N105 | $11.5M | 1.50% | 269,515 | SH |
| 18 | CYBIN INC | HELP | 23256X407 | $10.7M | 1.40% | 1,620,753 | SH |
| 19 | ELI LILLY & CO | LLY | 532457108 | $9.6M | 1.26% | 8,040 | SH |
| 20 | MADRIGAL PHARMACEUTICALS INC | MDGL | 558868105 | $9.4M | 1.22% | 17,419 | SH |
| 21 | TREVI THERAPEUTICS INC | TRVI | 89532M101 | $9.3M | 1.21% | 499,029 | SH |
| 22 | ACADIA PHARMACEUTICALS INC | ACAD | 004225108 | $9.0M | 1.18% | 356,534 | SH |
| 23 | CELLDEX THERAPEUTICS INC NEW | CLDX | 15117B202 | $9.0M | 1.17% | 240,868 | SH |
| 24 | RHYTHM PHARMACEUTICALS INC | RYTM | 76243J105 | $8.9M | 1.16% | 80,400 | SH |
| 25 | CYTOKINETICS INC Call | CYTK | 23282W605 | $8.5M | 1.11% | 100,000 | SH |
| 26 | ORIC PHARMACEUTICALS INC | ORIC | 68622P109 | $8.2M | 1.06% | 752,983 | SH |
| 27 | LAM RESEARCH CORP | LRCX | 512807306 | $8.0M | 1.04% | 18,470 | SH |
| 28 | APPLIED MATLS INC | AMAT | 038222105 | $8.0M | 1.04% | 11,040 | SH |
| 29 | TANGO THERAPEUTICS INC | TNGX | 87583X109 | $7.9M | 1.04% | 254,250 | SH |
| 30 | NOVARTIS AG | NVS | 66987V109 | $7.8M | 1.02% | 50,000 | SH |
| 31 | SOLAREDGE TECHNOLOGIES INC | SEDG | 83417MAE4 | $7.7M | 1.01% | 4,000,000 | SH |
| 32 | VOR BIOPHARMA INC | VOR | 929033207 | $7.7M | 1.00% | 416,417 | SH |
| 33 | ABBVIE INC | ABBV | 00287Y109 | $7.6M | 0.99% | 30,256 | SH |
| 34 | MERCK & CO INC | MRK | 58933Y105 | $7.5M | 0.98% | 58,600 | SH |
| 35 | JOHNSON & JOHNSON | JNJ | 478160104 | $7.3M | 0.96% | 28,831 | SH |
| 36 | IDEAYA BIOSCIENCES INC | IDYA | 45166A102 | $7.3M | 0.95% | 196,408 | SH |
| 37 | IMMATICS N.V | IMTX | N44445109 | $7.3M | 0.95% | 720,057 | SH |
| 38 | NUVECTIS PHARMA INC | NVCT | 67080T108 | $7.0M | 0.92% | 382,945 | SH |
| 39 | PFIZER INC | PFE | 717081103 | $6.9M | 0.90% | 286,000 | SH |
| 40 | HARMONY BIOSCIENCES HLDGS IN | HRMY | 413197104 | $6.4M | 0.84% | 176,663 | SH |
| 41 | XENON PHARMACEUTICALS INC | XENE | 98420N105 | $6.3M | 0.83% | 105,000 | SH |
| 42 | CLIMB BIO INC | CLYM | 28658R106 | $6.3M | 0.82% | 483,747 | SH |
| 43 | ZENAS BIOPHARMA INC | ZBIO | 98937L105 | $5.9M | 0.76% | 230,834 | SH |
| 44 | NOVO-NORDISK A S | NVO | 670100205 | $5.8M | 0.75% | 120,677 | SH |
| 45 | ENLIVEN THERAPEUTICS INC | ELVN | 29337E102 | $5.7M | 0.75% | 112,765 | SH |
| 46 | PRELUDE THERAPEUTICS INC | PRLD | 74065P101 | $5.4M | 0.71% | 1,019,832 | SH |
| 47 | GSK PLC | GSK | 37733W204 | $5.3M | 0.70% | 102,000 | SH |
| 48 | FORTE BIOSCIENCES INC | FBRX | 34962G208 | $5.3M | 0.69% | 249,693 | SH |
| 49 | BIOAGE LABS INC | BIOA | 09077V100 | $5.2M | 0.68% | 213,671 | SH |
| 50 | SCHOLAR ROCK HLDG CORP | SRRK | 80706P103 | $5.2M | 0.68% | 94,265 | SH |
| Period | Filed | AUM | Holdings | Accession |
|---|---|---|---|---|
| 2026-06-30 | 2026-08-14 | $766.5M | 106 | 0001496201-26-000004 |
| 2026-03-31 | 2026-05-15 | $629.7M | 97 | 0001496201-26-000003 |
| 2025-12-31 | 2026-02-17 | $517.3M | 100 | 0001496201-26-000002 |
| 2025-09-30 | 2025-11-14 | $474.1M | 115 | 0001496201-25-000017 |