SPHERA FUNDS MANAGEMENT LTD. — 13F Holdings & Portfolio
CIK 1496201 · latest 13F-HR filed 2026-05-15
SPHERA FUNDS MANAGEMENT LTD. manages $629.7M in 13F-reported U.S. long-equity assets across 97 reported positions as of its 2026-03-31 13F-HR filing. Its largest disclosed positions are MLYS (5.76%), TEVA (5.01%), TSEM (4.06%). Quarter over quarter (versus its 2025-12-31 filing) the fund opened 20 new positions, exited 22, added to 38, and trimmed 28.
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.
$629.7M
Long-equity book
97
Distinct positions
2026-03-31
Filed 2026-05-15
+20 / −22 / ↑38 / ↓28
vs 2025-12-31
| Name | Title / Status | Ownership | Type |
|---|
Top Adds (vs prior quarter)
- MINERALYS THERAPEUTICS INC$20.0M +122.8%
- TOWER SEMICONDUCTOR LTD$11.2M +77.8%
- ULTRAGENYX PHARMACEUTICAL IN$10.0M +145.2%
- BRIDGEBIO PHARMA INC$10.0M +121.0%
- NOVA LTD$7.5M +47.5%
Top Trims
- DYNE THERAPEUTICS INC-$4.8M -62.1%
- CYTOKINETICS INC-$3.2M -55.0%
- SAVARA INC-$3.1M -43.2%
- SOLAREDGE TECHNOLOGIES INC-$3.0M -52.4%
- WAVE LIFE SCIENCES LTD-$3.0M -42.7%
New Positions
- ASTRAZENECA PLC$12.3M
- CELLEBRITE DI LTD$8.7M
- PALO ALTO NETWORKS INC$8.5M
- ORMAT TECHNOLOGIES INC$7.6M
- XENON PHARMACEUTICALS INC$7.4M
Exited Positions
- ASTRAZENECA PLC$12.4M
- ANNEXON INC$6.6M
- ASTRIA THERAPEUTICS INC$4.7M
- ADVANCED MICRO DEVICES INC$3.9M
- PROTARA THERAPEUTICS INC$3.5M
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 | MINERALYS THERAPEUTICS INC | MLYS | 603170101 | $36.3M | 5.76% | 1,339,971 | SH |
| 2 | TEVA PHARMACEUTICAL INDS LTD | TEVA | 881624209 | $31.5M | 5.01% | 1,046,975 | SH |
| 3 | TOWER SEMICONDUCTOR LTD | TSEM | M87915274 | $25.6M | 4.06% | 145,735 | SH |
| 4 | SPDR SERIES TRUST Put | XBI | 78464A870 | $25.5M | 4.06% | 200,000 | SH |
| 5 | NOVA LTD | NVMI | M7516K103 | $23.2M | 3.68% | 53,366 | SH |
| 6 | BRIDGEBIO PHARMA INC | BBIO | 10806X102 | $18.2M | 2.89% | 245,246 | SH |
| 7 | CYTOKINETICS INC Call | CYTK | 23282W605 | $17.1M | 2.71% | 259,300 | SH |
| 8 | BIOGEN INC | BIIB | 09062X103 | $17.0M | 2.69% | 92,526 | SH |
| 9 | ULTRAGENYX PHARMACEUTICAL IN | RARE | 90400D108 | $17.0M | 2.69% | 809,333 | SH |
| 10 | SYNDAX PHARMACEUTICALS INC | SNDX | 87164F105 | $16.9M | 2.69% | 724,563 | SH |
| 11 | COGENT BIOSCIENCES INC | COGT | 19240Q201 | $16.0M | 2.54% | 416,340 | SH |
| 12 | SANOFI SA | SNY | 80105N105 | $13.0M | 2.06% | 269,515 | SH |
| 13 | ASTRAZENECA PLC | AZN | G0593M107 | $12.3M | 1.96% | 62,530 | SH |
| 14 | AMICUS THERAPEUTIC | FOLD | 03152W109 | $8.7M | 1.39% | 603,377 | SH |
| 15 | CELLEBRITE DI LTD | CLBT | M2197Q107 | $8.7M | 1.38% | 631,521 | SH |
| 16 | APELLIS PHARMACEUTICALS INC | APLS | 03753U106 | $8.6M | 1.37% | 214,914 | SH |
| 17 | PALO ALTO NETWORKS INC | PANW | 697435105 | $8.5M | 1.34% | 52,800 | SH |
| 18 | ELI LILLY & CO | LLY | 532457108 | $8.3M | 1.32% | 9,040 | SH |
| 19 | BIOCRYST PHARMACEUTICALS INC | BCRX | 09058V103 | $8.2M | 1.31% | 866,464 | SH |
| 20 | CAMTEK LTD | CAMT | M20791105 | $8.0M | 1.28% | 53,020 | SH |
| 21 | BIOMARIN PHARMACEUTICAL INC | BMRN | 09061G101 | $7.9M | 1.26% | 139,900 | SH |
| 22 | CELLDEX THERAPEUTICS INC NEW | CLDX | 15117B202 | $7.7M | 1.23% | 243,575 | SH |
| 23 | ORMAT TECHNOLOGIES INC | ORA | 686688102 | $7.6M | 1.21% | 68,250 | SH |
| 24 | XENON PHARMACEUTICALS INC | XENE | 98420N105 | $7.4M | 1.17% | 127,000 | SH |
| 25 | SOLENO THERAPEUTICS INC | SLNO | 834203309 | $7.2M | 1.15% | 216,281 | SH |
| 26 | TANGO THERAPEUTICS INC | TNGX | 87583X109 | $7.2M | 1.14% | 343,563 | SH |
| 27 | JOHNSON & JOHNSON | JNJ | 478160104 | $7.0M | 1.12% | 28,831 | SH |
| 28 | SOLAREDGE TECHNOLOGIES INC | SEDG | 83417MAE4 | $6.9M | 1.10% | 4,000,000 | SH |
| 29 | IMMATICS N.V | IMTX | N44445109 | $6.8M | 1.09% | 696,105 | SH |
| 30 | TREVI THERAPEUTICS INC | TRVI | 89532M101 | $6.8M | 1.09% | 574,029 | SH |
| 31 | ORIC PHARMACEUTICALS INC | ORIC | 68622P109 | $6.8M | 1.08% | 537,628 | SH |
| 32 | MAZE THERAPEUTICS INC | MAZE | 578784100 | $6.8M | 1.08% | 227,343 | SH |
| 33 | GSK PLC | GSK | 37733W204 | $6.7M | 1.07% | 122,000 | SH |
| 34 | AMAZON COM INC | AMZN | 023135106 | $6.7M | 1.06% | 31,940 | SH |
| 35 | ABBVIE INC | ABBV | 00287Y109 | $6.6M | 1.05% | 30,256 | SH |
| 36 | APPLIED OPTOELECTRONICS INC | AAOI | 03823U102 | $6.2M | 0.99% | 73,400 | SH |
| 37 | ENLIVEN THERAPEUTICS INC | ELVN | 29337E102 | $6.0M | 0.95% | 153,265 | SH |
| 38 | MERCK & CO INC | MRK | 58933Y105 | $5.8M | 0.93% | 48,600 | SH |
| 39 | VOR BIOPHARMA INC | VOR | 929033207 | $5.7M | 0.91% | 321,917 | SH |
| 40 | ACADIA PHARMACEUTICALS INC | ACAD | 004225108 | $5.7M | 0.91% | 256,202 | SH |
| 41 | NOVARTIS AG | NVS | 66987V109 | $5.7M | 0.90% | 37,000 | SH |
| 42 | ELEDON PHARMACEUTICALS INC | ELDN | 28617K101 | $5.5M | 0.87% | 1,772,131 | SH |
| 43 | ENPHASE ENERGY INC | ENPH | 29355A107 | $5.4M | 0.86% | 142,419 | SH |
| 44 | REVOLUTION MEDICINES INC | RVMD | 76155X100 | $5.4M | 0.85% | 55,110 | SH |
| 45 | PFIZER INC | PFE | 717081103 | $5.2M | 0.83% | 186,000 | SH |
| 46 | BIOHAVEN LTD | BHVN | G1110E107 | $5.0M | 0.80% | 594,000 | SH |
| 47 | FORTE BIOSCIENCES INC | FBRX | 34962G208 | $4.8M | 0.76% | 184,984 | SH |
| 48 | CYBIN INC | HELP | 23256X407 | $4.7M | 0.75% | 987,090 | SH |
| 49 | MADRIGAL PHARMACEUTICALS INC | MDGL | 558868105 | $4.7M | 0.75% | 9,040 | SH |
| 50 | SCHOLAR ROCK HLDG CORP | SRRK | 80706P103 | $4.6M | 0.74% | 94,265 | SH |
| Period | Filed | AUM | Holdings | Accession |
|---|---|---|---|---|
| 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 |