SPHERA FUNDS MANAGEMENT LTD.

Q1 2026 13F-HR Holdings

Location
Tel Aviv, L3
Holdings as of
3/31/2026
Date filed
5/15/2026
Form type
13F-HR
Num holdings
96
Total value ($000)
$629,683
Net value change ($000)
+112,389 (21.7%)
New positions
20
Sold out positions
22
Turnover %
25.4%
Sector allocation + QoQ delta (equities-only)

Holdings aggregated across other managers listed in the original SEC filing. View detailed breakdown

Prev filing: 2/17/2026 Next filing: — SEC filing

Snapshot: Change Analysis

Compared to Q4 2025
Methodology: sector metrics are equities-only; instrument mix chart is ex-options; options exposure is shown separately. Why this matters.
Top Adds (Value $000, Stocks/ETFs)
MLYS 20,006 122.8%
AZN 12,332 NEW
TSEM 11,189 77.8%
RARE 10,042 145.2%
BBIO 9,971 121.0%
CLBT 8,702 NEW
PANW 8,465 NEW
ORA 7,639 NEW
NVMI 7,464 47.5%
XENE 7,385 NEW
Top Reduces (Value $000, Stocks/ETFs)
AZN -12,416 -100.0%
ANNX -6,607 -100.0%
DYN -4,773 -62.1%
Astria Therapeutics, Inc. -4,656 -100.0%
AMD -3,863 -100.0%
TARA -3,465 -100.0%
AVGO -3,376 -100.0%
CYTK -3,204 -55.0%
ESLT -3,085 -100.0%
SVRA -3,068 -43.2%
Instrument mix + QoQ Δ (ex-options)
Derivatives reported exposure ($000): 48,201 (7.7% of total reported value)
How this table is calculated: SEC VALUE ($000) is used as reported. For derivatives (PUT/CALL/WARRANT/RIGHT), SEC value represents reported underlying exposure, not premium cash paid/received. Column % is bucket-based: non-options share is calculated inside non-option total, options share is calculated inside options total. Details.
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Instrument:
Issuer Name Ticker Sector Industry Class History Value ($000) % Shares Shares Δ Shares Δ% Value Δ ($000) Value Δ% Principal Option Type