Form 13-F position report

ANNEXON INC

Reported by SPHERA FUNDS MANAGEMENT LTD

ANNX CUSIP 03589W102 Manager CIK 0001496201

Reported 1,794,387 shares, up 30,000 (1.7%) from the prior quarter.

Reported value 29.2%; share count 1.7% vs. the prior quarter.

Added
% of reported 13F value 1.15% This manager · Q3 2025
Shares 1,794,387 Quarter-end amount reported
Reported value $5,472,880 Fair value at quarter end
Consecutive quarters held 4 Through Q3 2025

Reported position value by quarter

Reported position value by quarter

Each bar is a Form 13-F quarter-end snapshot. It does not show trades made within the quarter.

Reported position value by quarter
Date Holding Value
2021-09-30 2301000
2021-12-31 1421000
2022-03-31 0
2023-03-31 962500
2023-06-30 0
2024-12-31 6376790
2025-03-31 3405267
2025-06-30 4234529
2025-09-30 5472880
2025-12-31 6607384
2026-03-31 0

Quarterly position history

How this manager's reported quarter-end position changed over time.

11 quarters
Quarterly reported position history for ANNEXON INC held by SPHERA FUNDS MANAGEMENT LTD.
Quarter Activity Shares Change % of reported 13F Reported value Filed Source filing
Q1 2026 Reduced 0 -1,316,212 (-100.0%) 0 $0 2026-05-15
Q4 2025 Reduced 1,316,212 -478,175 (-26.6%) 1.28% $6,607,384 2026-02-17
Q3 2025 Added 1,794,387 +30,000 (1.7%) 1.15% $5,472,880 2025-11-14
Q2 2025 Unchanged 1,764,387 0 (0.0%) 0.99% $4,234,529 2025-08-14
Q1 2025 Added 1,764,387 +521,348 (41.9%) 0.78% $3,405,267 2025-05-15
Q4 2024 New 1,243,039 +1,243,039 (0.0%) 1.15% $6,376,790 2025-02-14
Q2 2023 Reduced 0 -250,000 (-100.0%) 0 $0 2023-08-14
Q1 2023 New 250,000 +250,000 (0.0%) 0.16% $962,500 2023-05-15
Q1 2022 Reduced 0 -123,637 (-100.0%) 0 $0 2022-05-16
Q4 2021 Unchanged 123,637 0 (0.0%) 0.16% $1,421,000 2022-02-14
Q3 2021 Reduced 123,637 -24,681 (-16.6%) 0.19% $2,301,000 2021-11-15
Five years are shown. A free account unlocks the complete reported history. Unlock full history

Who else reported the position

159 managers reported ANNEXON INC for Q3 2025.

Managers reporting ANNEXON INC in Q3 2025.
Manager Activity Shares Change % of reported 13F Reported value Tenure
FMR LLC Reduced 11,081,163 -4,614,063 < 0.01% $33,797,548 21 qtrs
BlackRock Inc Reduced 7,899,008 -63,360 < 0.01% $24,091,974 5 qtrs
BVF INC IL Unchanged 7,000,000 0 0.87% $21,350,000 8 qtrs
Redmile Group LLC Unchanged 6,300,644 0 1.87% $19,216,964 21 qtrs
VANGUARD GROUP INC Added 5,835,112 +469,073 < 0.01% $17,797,091 21 qtrs
Bain Capital Life Sciences Investors LLC Unchanged 5,249,069 0 1.06% $16,009,660 21 qtrs
Bellevue Group AG Unchanged 5,157,290 0 0.33% $15,729,735 7 qtrs
MORGAN STANLEY Added 3,029,848 +2,197,308 < 0.01% $9,241,037 21 qtrs
MILLENNIUM MANAGEMENT LLC Added 2,822,823 +308,689 < 0.01% $8,609,610 17 qtrs
Woodline Partners LP Added 2,638,275 +1,584,566 0.04% $8,046,739 14 qtrs
Premium adds each manager's conviction percentile across reporting peers.
Filing details and methodology As reported
Report period
September 30, 2025
Filed
November 14, 2025
Filing type
13F-HR
Position type
COM

Voting authority reported

Sole
1,794,387
Shared
0
None
0

“None” means the manager reported no voting authority for those shares on non-routine matters. It does not disclose why and is not evidence of securities lending.

Form 13-F is a delayed quarter-end snapshot of disclosed long Section 13(f) securities. It can be filed up to 45 days after quarter end, excludes short positions and most non-U.S. securities, and does not reveal intra-quarter trading. For options, reported shares and value describe the underlying-share exposure; strike, expiry, premium, and written positions are not disclosed.