SPHERA FUNDS MANAGEMENT LTD.
SEC Form 13F institutional filer · CIK 0001496201
13F-HR · 11 reported holdings · 2026-03-31
Reported long-US-equity value
$0.07B
Top-10 concentration
98.5%
SPHERA FUNDS MANAGEMENT LTD. — $70.6M AUM allocation strategy
SPHERA FUNDS MANAGEMENT LTD. files SEC Form 13F and reports $70.6M of long US equity value across 11 reported holdings for 2026-03-31.
Its largest sector bet is Health Care 76.0%, followed by Information Technology 12.0% and Consumer Discretionary 9.4%.
The top 10 holdings account for 99% of reported value — a conviction-weighted book concentrated in its best ideas. The sector and industry splits below are of the same reported value. Track quarter-over-quarter adds, trims, new positions and exits below — sourced from SEC 13F filings, public domain.
SPHERA FUNDS MANAGEMENT LTD. — latest SEC 13F insights
Reported long-US-equity value (13F AUM)
$70.6M
total across 11 reported holdings · 2026-03-31 · excludes shorts, cash, non-US
Top-10 concentration
99% of value
higher = narrower conviction; lower = spread / hedging
Biggest trims (shares)
−$JNJ −7K sh · −$368K−$BNY −3K sh · −$516K−$BIIB −2.21K sh · +$290K
Sector allocation (share of reported value)
each slice is a share of the reported long-US-equity value — smaller sectors and the rest of the book roll into “Other holdings”
Qtr shift = share-point change vs the prior quarter's filing — first period tracked for this filer; the column fills in with the next quarterly refresh.
Industry allocation (share of reported value)
- Pharmaceuticals38.9%—
- Biotechnology37.1%—
- Systems Software12.0%—
- Broadline Retail9.4%—
- Asset Management & Custody Banks2.6%—
the finer GICS cut of the same book — same denominator — smaller industries roll into “Other holdings”
Qtr shift = share-point change vs the prior quarter's filing — first period tracked for this filer; the column fills in with the next quarterly refresh.
Top S&P 500 holdings
10 of 10 rows · sorted by Value ↓
| Ticker | Holding | Shares | Value | Δ QoQ | Weight |
|---|---|---|---|---|---|
| $BIIB | Biogen Inc | 92.5K | $17M | -2.21K | 24.0% |
| $PANW | Palo Alto Networks Inc | 52.8K | $8.46M | — | 12.0% |
| $LLY | Eli Lilly and Company | 9.04K | $8.31M | +0 | 11.8% |
| $JNJ | Johnson & Johnson | 28.8K | $7.05M | -7K | 10.0% |
| $AMZN | Amazon.com Inc | 31.9K | $6.65M | — | 9.4% |
| $ABBV | AbbVie Inc | 30.3K | $6.58M | +5K | 9.3% |
| $MRK | Merck & Company Inc | 48.6K | $5.85M | +0 | 8.3% |
| $PFE | Pfizer Inc | 186K | $5.22M | +100K | 7.4% |
| $AMGN | Amgen Inc | 7.5K | $2.64M | +0 | 3.7% |
| $BNY | The Bank of New York Mellon Corporation | 8K | $1.83M | -3K | 2.6% |
…and 1 more holdings in the full 13F filing (top positions only shown).
SEC Form 13F data sets · public domain · 45-day filing lag · >$100M AUM managers · as reported
← All 13F filers·← QuantOrb.pro
How to read Δ QoQ — the five insight categories, and the caveats
The categories. Analysts, quants and retail traders look past total portfolio value to isolate actionable signals. Five categories matter.
Conviction & concentration shifts
New positions vs complete exits — a brand-new stock signals high conviction; a full liquidation suggests a broken thesis or tax-loss harvesting. Aggressive sizing — look at share count, not dollars: a 20% share increase during a drawdown is strong dip-buying. Concentration — a narrowing top-5/10 means conviction; spreading capital across more names means hedging.
Sector & macro allocation rotations
Aggregating Δ QoQ moves across sectors shows where smart money is leaning in or sneaking out — rotating out of growth into defensives or energy, for example. The fund's total long equity exposure quarter-over-quarter is a proxy for overall institutional risk appetite.
Crowding & smart-money consensus
When several managers initiate or expand the same stock in the same quarter, that is institutional consensus. Contrarian reads: top pickers buying hard into a beaten-down name the market is selling.
Derivative & option overlays
Reported call/put changes indicate whether managers are adding downside hedges or leveraging upside exposure. Note: a long increase may be half of a market-neutral pair trade.
Who reads this
| Retail "cloners" | High-conviction ideas to replicate ~45 days after quarter-end. |
| Corporate IR | Which funds bought or dumped the stock, before the next call. |
| Quant / algo traders | Cross-sectional factor inputs: flow, momentum, ownership. |
Four caveats before you trade on it
- 45-day lag — holdings are quarter-end; positions may already be closed.
- Long-only — 13Fs miss shorts, pair trades and cash.
- No non-US / fixed income — the picture is US equities plus options.
- Corporate actions — splits and spinoffs distort raw share deltas.
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