SELECT SECTOR SPDR TR

Ticker: XLV CUSIP: 81369Y209 Class: SBI HEALTHCARE

SPHERA FUNDS MANAGEMENT LTD.'s Holding History (CIK: 0001496201)

Note: Option positions (PUT/CALL) are excluded.

Q1 2015
Shares 59,853 Value ($000) $4,339 Avg Close — Range —
Q4 2014
Shares 48,853 Value ($000) $3,341 Avg Close — Range —
Q3 2014
Shares 48,853 Value ($000) $3,122 Avg Close — Range —
Q2 2014
Shares 29,353 Value ($000) $1,786 Avg Close — Range —
Q1 2014
Shares 159,353 Value ($000) $9,321 Avg Close — Range —
Q4 2013
Shares 136,023 Value ($000) $7,541 Avg Close — Range —