Sphera Management Technology Funds Ltd
In its 13F for Q4 2025 (holdings as of December 31, 2025, filed February 17, 2026), Sphera Management Technology Funds Ltd reported 59 stock positions worth $191.1 million. Its top holding was Meta Platforms Class A (META) at 7.3% of the portfolio, followed by Amazon.com (AMZN, 7.2%) and Microsoft (MSFT, 6.3%). Compared with Q3 2025, it opened 14 new positions, sold out of 19, added to 19 and reduced 17. The biggest buy was a new position in On Semiconductor Corp. (on 0 05/01/27) and the biggest sale an exit from On Semiconductor Corp. (on 0.5 03/01/29).
- Most Recent 13F
- Q2 2026
- Location
- TEL AVIV, L3
- CIK
- 0002030525
- Portfolio Value
- $191.1M (Q4 2025)
- SEC Filing
- 0002030525-26-000001 ↗ filed Feb 17, 2026
Holdings Value
Holdings 59 stocks · $191.1M
| META Meta Platforms Inc. Class A | 7.25% | 21,000 | $13.9M | Add +4.1% |
| AMZN Amazon.com Inc. | 7.25% | 60,000 | $13.8M | Reduce -12.4% |
| MSFT Microsoft Corp. | 6.33% | 25,000 | $12.1M | Add +13.6% |
| AVGO Broadcom Inc. | 4.87% | 26,900 | $9.3M | Reduce -1.3% |
| TSLA Tesla Inc. | 4.74% | 20,130 | $9.1M | Add +11.7% |
| NVDA Nvidia Corp. | 4.71% | 48,300 | $9.0M | Add +50.6% |
| AMD Advanced Micro Devices | 4.48% | 40,000 | $8.6M | Reduce -29.8% |
| INTC Intel Corp. | 3.09% | 160,000 | $5.9M | Reduce -14.9% |
| SOLAR EDGE TECHNOLOGIES (SEDG 2.25 07/01/29) | 2.89% | 4,700,000 | $5.5M | No change |
| GOOG Alphabet Inc. Class C | 2.63% | 16,020 | $5.0M | Add +24.5% |
| ON SEMICONDUCTOR CORP (ON 0 05/01/27) | 2.50% | 4,000,000 | $4.8M | New |
| U Unity Software Inc. | 2.31% | 100,000 | $4.4M | Reduce -9.1% |
| AMAT Applied Materials Inc. | 2.31% | 17,150 | $4.4M | Add +43.5% |
| TSM Taiwan Semiconductor-SP ADR | 2.07% | 13,000 | $4.0M | New |
| PANW Palo Alto Networks Inc. | 1.97% | 20,400 | $3.8M | Add +20.0% |
| SMWB Similarweb Ltd. | 1.88% | 480,000 | $3.6M | Add +3.7% |
| TWLO Twilio Inc. Class A | 1.86% | 25,000 | $3.6M | Add +25.0% |
| CRM Salesforce Inc. | 1.66% | 12,000 | $3.2M | Add +98.0% |
| TXN Texas Instruments Inc. | 1.54% | 17,000 | $2.9M | Add +13.3% |
| ORCL Oracle Corp. | 1.53% | 15,000 | $2.9M | Reduce -11.8% |
| ENPH Enphase Energy Inc. | 1.51% | 90,000 | $2.9M | Add +125.0% |
| CAMT Camtek Ltd. | 1.39% | 25,000 | $2.7M | Reduce -28.6% |
| WIX Wix.com Ltd. | 1.36% | 25,000 | $2.6M | Add +92.3% |
| ADI Analog Devices Inc. | 1.31% | 9,200 | $2.5M | Add +19.5% |
| UBER Uber Technologies Inc. | 1.28% | 30,000 | $2.5M | No change |
| MRVL Marvell Technology Inc. | 1.28% | 28,800 | $2.4M | Reduce -53.5% |
| MDB Mongodb Inc. | 1.23% | 5,600 | $2.4M | New |
| VARONIS SYSTEM INC (VRNS 1 09/15/29) | 1.22% | 2,500,000 | $2.3M | New |
| NICE Nice Ltd. - Spon ADR | 1.18% | 20,000 | $2.3M | Reduce -13.0% |
| NOK Nokia Corp.-Spon ADR | 1.08% | 320,000 | $2.1M | New |
| FROG Jfrog Ltd. | 1.06% | 32,300 | $2.0M | Reduce -28.2% |
| KLAC KLA Corp. | 1.04% | 1,635 | $2.0M | New |
| BOX INC (BOX 1.5 09/15/29) | 1.03% | 2,000,000 | $2.0M | No change |
| RBRK Rubrik Inc. Class A | 0.91% | 22,800 | $1.7M | New |
| SNOW Snowflake Inc. | 0.81% | 7,100 | $1.6M | New |
| SNOWFLAKE INC (SNOW 0 10/01/29) | 0.81% | 1,000,000 | $1.5M | Reduce -56.5% |
| COHR Coherent Corp. | 0.77% | 8,000 | $1.5M | New |
| LSCC Lattice Semiconductor Corp. | 0.77% | 20,000 | $1.5M | Reduce -33.3% |
| CLBT Cellebrite Di Ltd. | 0.75% | 80,000 | $1.4M | Reduce -52.9% |
| NOW ServiceNow Inc. | 0.74% | 9,200 | $1.4M | New |
| ODD Oddity Tech Ltd. Class A | 0.74% | 35,000 | $1.4M | No change |
| TTMI TTM Technologies | 0.67% | 18,600 | $1.3M | Add +24.0% |
| ZETA Zeta Global Holdings Corp. Class A | 0.64% | 60,000 | $1.2M | Add +20.0% |
| SANM Sanmina Corp. | 0.63% | 8,000 | $1.2M | New |
| CIEN Ciena Corp. | 0.61% | 5,000 | $1.2M | Reduce -73.7% |
| BILL HOLDINGS INC (BILL 0 04/01/30) | 0.60% | 1,250,000 | $1.2M | New |
| VRNS Varonis Systems Inc. | 0.60% | 35,000 | $1.1M | Add +16.7% |
| WDAY Workday Inc. Class A | 0.60% | 5,300 | $1.1M | Reduce -24.3% |
| COIN Coinbase Global Inc. Class A | 0.59% | 5,000 | $1.1M | No change |
| RTAC Renatus Tactical Acquisiti-A | 0.56% | 100,000 | $1.1M | New |
| COMP Compass Inc. Class A | 0.55% | 100,000 | $1.1M | No change |
| ALGM Allegro Microsystems Inc. | 0.55% | 40,000 | $1.1M | No change |
| FSLR First Solar Inc. | 0.55% | 4,000 | $1.0M | No change |
| PAYO Payoneer Global Inc. | 0.53% | 180,000 | $1.0M | Add +5.9% |
| SEI Solaris Energy Infrastructur | 0.48% | 20,000 | $919K | Reduce -33.3% |
| SEDG Solaredge Technologies Inc. | 0.45% | 30,000 | $866K | Reduce -40.0% |
| OSCR Oscar Health Inc. Class A | 0.45% | 60,000 | $862K | No change |
| SERV Serve Robotics Inc. | 0.43% | 80,000 | $830K | New |
| SPWR Sunpower Inc. | 0.36% | 433,500 | $681K | Add +26.1% |
Options reported separately and not counted above: QQQ puts ($95.2M), NICE calls ($4.0M), S calls ($2.7M).
Portfolio Sells Q3 2025 → Q4 2025
| ON SEMICONDUCTOR CORP (ON 0.5 03/01/29) | Sold out | 0.00% | −1.78 |
| CHKP Check Point Software Tech | Sold out | 0.00% | −1.57 |
| NFLX Netflix Inc. | Sold out | 0.00% | −1.52 |
| MRVL Marvell Technology Inc. | Reduce -53.5% | 1.28% | −1.36 |
| IBM Intl Business Machines Corp. | Sold out | 0.00% | −1.14 |
| SNOWFLAKE INC (SNOW 0 10/01/29) | Reduce -56.5% | 0.81% | −1.02 |
| AKAMAI TECHNOLOGIES INC (AKAM 1.125 02/15/29) | Sold out | 0.00% | −0.95 |
| ORCL Oracle Corp. | Reduce -11.8% | 1.53% | −0.89 |
| CLBT Cellebrite Di Ltd. | Reduce -52.9% | 0.75% | −0.84 |
| HUT Hut 8 Corp. | Sold out | 0.00% | −0.79 |
| CIEN Ciena Corp. | Reduce -73.7% | 0.61% | −0.79 |
| SUNRUN INC (RUN 4 03/01/30) | Sold out | 0.00% | −0.76 |
| IREN Iren Ltd. | Sold out | 0.00% | −0.71 |
| NET Cloudflare Inc. Class A | Sold out | 0.00% | −0.65 |
| AVAV Aerovironment Inc. | Sold out | 0.00% | −0.62 |
| HPE Hewlett Packard Enterprise | Sold out | 0.00% | −0.62 |
| CEVA Ceva Inc. | Sold out | 0.00% | −0.58 |
| PENGUIN SOLUTIONS CAYMEN (PENG 2 08/15/30) | Sold out | 0.00% | −0.51 |
| NICE Nice Ltd. - Spon ADR | Reduce -13.0% | 1.18% | −0.50 |
| SEDG Solaredge Technologies Inc. | Reduce -40.0% | 0.45% | −0.48 |
| CAMT Camtek Ltd. | Reduce -28.6% | 1.39% | −0.47 |
| ETOR Etoro Group Ltd. Class A | Sold out | 0.00% | −0.42 |
| PERI Perion Network Ltd. | Sold out | 0.00% | −0.39 |
| AMZN Amazon.com Inc. | Reduce -12.4% | 7.25% | −0.37 |
| LSCC Lattice Semiconductor Corp. | Reduce -33.3% | 0.77% | −0.34 |
| NNDM Nano Dimension Ltd. - ADR | Sold out | 0.00% | −0.34 |
| KRNT Kornit Digital Ltd. | Sold out | 0.00% | −0.32 |
| FOUR SHIFT4 Payments Inc. Class A | Sold out | 0.00% | −0.31 |
| VLN Valens Semiconductor Ltd. | Sold out | 0.00% | −0.30 |
| WDAY Workday Inc. Class A | Reduce -24.3% | 0.60% | −0.26 |
| AMD Advanced Micro Devices | Reduce -29.8% | 4.48% | −0.19 |
| SEI Solaris Energy Infrastructur | Reduce -33.3% | 0.48% | −0.13 |
| INTC Intel Corp. | Reduce -14.9% | 3.09% | −0.10 |
| FROG Jfrog Ltd. | Reduce -28.2% | 1.06% | −0.02 |
| U Unity Software Inc. | Reduce -9.1% | 2.31% | +0.08 |
| AVGO Broadcom Inc. | Reduce -1.3% | 4.87% | +0.32 |
Portfolio Buys Q3 2025 → Q4 2025
| ON SEMICONDUCTOR CORP (ON 0 05/01/27) | New | 2.50% | +2.50 |
| TSM Taiwan Semiconductor-SP ADR | New | 2.07% | +2.07 |
| NVDA Nvidia Corp. | Add +50.6% | 4.71% | +1.68 |
| MDB Mongodb Inc. | New | 1.23% | +1.23 |
| VARONIS SYSTEM INC (VRNS 1 09/15/29) | New | 1.22% | +1.22 |
| NOK Nokia Corp.-Spon ADR | New | 1.08% | +1.08 |
| AMAT Applied Materials Inc. | Add +43.5% | 2.31% | +1.07 |
| GOOG Alphabet Inc. Class C | Add +24.5% | 2.63% | +1.04 |
| KLAC KLA Corp. | New | 1.04% | +1.04 |
| CRM Salesforce Inc. | Add +98.0% | 1.66% | +0.94 |
| RBRK Rubrik Inc. Class A | New | 0.91% | +0.91 |
| TWLO Twilio Inc. Class A | Add +25.0% | 1.86% | +0.85 |
| SNOW Snowflake Inc. | New | 0.81% | +0.81 |
| ENPH Enphase Energy Inc. | Add +125.0% | 1.51% | +0.79 |
| COHR Coherent Corp. | New | 0.77% | +0.77 |
| NOW ServiceNow Inc. | New | 0.74% | +0.74 |
| TSLA Tesla Inc. | Add +11.7% | 4.74% | +0.68 |
| SANM Sanmina Corp. | New | 0.63% | +0.63 |
| BILL HOLDINGS INC (BILL 0 04/01/30) | New | 0.60% | +0.60 |
| RTAC Renatus Tactical Acquisiti-A | New | 0.56% | +0.56 |
| MSFT Microsoft Corp. | Add +13.6% | 6.33% | +0.56 |
| SERV Serve Robotics Inc. | New | 0.43% | +0.43 |
| ADI Analog Devices Inc. | Add +19.5% | 1.31% | +0.35 |
| TTMI TTM Technologies | Add +24.0% | 0.67% | +0.23 |
| PANW Palo Alto Networks Inc. | Add +20.0% | 1.97% | +0.21 |
| WIX Wix.com Ltd. | Add +92.3% | 1.36% | +0.19 |
| TXN Texas Instruments Inc. | Add +13.3% | 1.54% | +0.15 |
| ZETA Zeta Global Holdings Corp. Class A | Add +20.0% | 0.64% | +0.14 |
| SPWR Sunpower Inc. | Add +26.1% | 0.36% | +0.05 |
| PAYO Payoneer Global Inc. | Add +5.9% | 0.53% | +0.01 |
| META Meta Platforms Inc. Class A | Add +4.1% | 7.25% | −0.25 |
| VRNS Varonis Systems Inc. | Add +16.7% | 0.60% | −0.27 |
| SMWB Similarweb Ltd. | Add +3.7% | 1.88% | −0.30 |
Options Activity Q3 2025 → Q4 2025
| QQQ Invesco QQQ Trust Series 1 | put | Reduce -18.4% | 155,000 | $95.2M |
| NICE Nice Ltd. - Spon ADR | call | Add +75.0% | 35,000 | $4.0M |
Calls and puts are listed by the shares they cover; their value is not part of the stock holdings above.
All Filings
| Quarter | Positions | 13F Reported Value | Top Holdings |
|---|---|---|---|
| Q2 2026 | 83 | $285.1M | AMD, GOOG, AMZN, MSFT, AVGO |
| Q1 2026 | 54 | $177.0M | AMZN, MSFT, NVDA, META, GOOG |
| Q4 2025 | 59 | $191.1M | META, AMZN, MSFT, AVGO, TSLA |
| Q3 2025 | 64 | $197.5M | AMZN, META, MSFT, AMD, AVGO |
| Q2 2025 | 62 | $163.0M | META, AMZN, MSFT, AMD, NVDA |
| Q1 2025 | 60 | $125.5M | AMZN, META, CRM, MSFT, AMD |
| Q4 2024 | 58 | $126.1M | AMZN, META, GOOG, MSFT, MRVL |