Sector Gamma As
In its 13F for Q1 2025 (holdings as of March 31, 2025, filed May 13, 2025), Sector Gamma As reported 33 stock positions worth $312.2 million. Its top holding was Bristol-Myers Squibb (BMY) at 8.5% of the portfolio, followed by Pfizer (PFE, 7.5%) and Becton Dickinson and (BDX, 6.0%). Compared with Q4 2024, it opened 5 new positions, sold out of 2, added to 15 and reduced 12. The biggest buy was Elevance Health (ELV, shares +67%) and the biggest sale Pfizer (PFE, shares −20%).
- Most Recent 13F
- Q2 2026
- Location
- OSLO, Q8
- CIK
- 0001475373
- Portfolio Value
- $312.2M (Q1 2025)
- SEC Filing
- 0000945621-25-000464 ↗ filed May 13, 2025
Holdings Value
Holdings 33 stocks · $312.2M
| BMY Bristol-Myers Squibb Co. | 8.50% | 435,000 | $26.5M | Add +18.8% |
| PFE Pfizer Inc. | 7.51% | 925,000 | $23.4M | Reduce -19.9% |
| BDX Becton Dickinson and Co. | 6.02% | 82,000 | $18.8M | Add +7.9% |
| MDT Medtronic PLC | 5.90% | 205,000 | $18.4M | Reduce -35.9% |
| AMGN Amgen Inc. | 5.89% | 59,000 | $18.4M | Add +28.3% |
| JNJ Johnson & Johnson | 5.21% | 98,000 | $16.3M | Add +25.6% |
| GILD Gilead Sciences Inc. | 5.02% | 140,000 | $15.7M | Reduce -29.1% |
| CVS CVS Health Corp. | 4.38% | 202,000 | $13.7M | Reduce -6.9% |
| ZBH Zimmer Biomet Holdings Inc. | 4.12% | 113,631 | $12.9M | Reduce -17.5% |
| ELV Elevance Health Inc. | 4.01% | 28,779 | $12.5M | Add +66.5% |
| CAH Cardinal Health Inc. | 3.88% | 88,000 | $12.1M | No change |
| CNC Centene Corp. | 3.44% | 177,000 | $10.7M | Add +4.1% |
| BMRN Biomarin Pharmaceutical Inc. | 3.11% | 137,348 | $9.7M | Reduce -36.8% |
| INCY Incyte Corp. | 3.08% | 159,000 | $9.6M | Reduce -19.4% |
| EW Edwards Lifesciences Corp. | 2.86% | 123,000 | $8.9M | Add +24.2% |
| BRKR Bruker Corp. | 2.83% | 211,970 | $8.8M | Add +33.3% |
| IONS Ionis Pharmaceuticals Inc. | 2.76% | 285,842 | $8.6M | Add +21.2% |
| BAX Baxter International Inc. | 2.72% | 247,650 | $8.5M | Add +56.1% |
| QGEN Qiagen N.V. | 2.40% | 187,000 | $7.5M | Reduce -5.7% |
| HUM Humana Inc. | 2.12% | 25,000 | $6.6M | Add +78.6% |
| THC Tenet Healthcare Corp. | 1.85% | 43,000 | $5.8M | Add +95.5% |
| ELAN Elanco Animal Health Inc. | 1.60% | 477,073 | $5.0M | Add +72.3% |
| GEHC GE Healthcare Technology | 1.60% | 62,000 | $5.0M | Add +24.0% |
| PTCT PTC Therapeutics Inc. | 1.51% | 92,250 | $4.7M | Add +41.4% |
| TNDM Tandem Diabetes Care Inc. | 1.11% | 180,523 | $3.5M | New |
| BIO Bio-Rad Laboratories-A | 1.08% | 13,829 | $3.4M | Reduce -17.8% |
| BNTX Biontech SE-ADR | 0.88% | 30,000 | $2.7M | Reduce -25.0% |
| ASND Ascendis Pharma A/S | 0.85% | 17,000 | $2.6M | New |
| BIIB Biogen Inc. | 0.82% | 18,639 | $2.6M | Reduce -35.7% |
| LNTH Lantheus Holdings Inc. | 0.78% | 25,000 | $2.4M | Reduce -2.8% |
| ACLX Arcellx Inc. | 0.74% | 35,000 | $2.3M | New |
| SOLV Solventum Corp. | 0.73% | 30,000 | $2.3M | New |
| TGTX TG Therapeutics Inc. | 0.69% | 55,000 | $2.2M | New |
Portfolio Sells Q4 2024 → Q1 2025
| PFE Pfizer Inc. | Reduce -19.9% | 7.51% | −3.03 |
| MDT Medtronic PLC | Reduce -35.9% | 5.90% | −2.89 |
| BMRN Biomarin Pharmaceutical Inc. | Reduce -36.8% | 3.11% | −1.80 |
| INCY Incyte Corp. | Reduce -19.4% | 3.08% | −1.60 |
| GILD Gilead Sciences Inc. | Reduce -29.1% | 5.02% | −1.25 |
| ZBH Zimmer Biomet Holdings Inc. | Reduce -17.5% | 4.12% | −0.88 |
| BIO Bio-Rad Laboratories-A | Reduce -17.8% | 1.08% | −0.82 |
| TANDEM DIABETES CARE INC (TNDM 1.5 05/01/25) | Sold out | 0.00% | −0.82 |
| QGEN Qiagen N.V. | Reduce -5.7% | 2.40% | −0.72 |
| BIIB Biogen Inc. | Reduce -35.7% | 0.82% | −0.71 |
| BNTX Biontech SE-ADR | Reduce -25.0% | 0.88% | −0.69 |
| LEGN Legend Biotech Corp.-ADR | Sold out | 0.00% | −0.54 |
| LNTH Lantheus Holdings Inc. | Reduce -2.8% | 0.78% | −0.01 |
| CVS CVS Health Corp. | Reduce -6.9% | 4.38% | +1.03 |
Portfolio Buys Q4 2024 → Q1 2025
| ELV Elevance Health Inc. | Add +66.5% | 4.01% | +1.82 |
| AMGN Amgen Inc. | Add +28.3% | 5.89% | +1.77 |
| BMY Bristol-Myers Squibb Co. | Add +18.8% | 8.50% | +1.38 |
| JNJ Johnson & Johnson | Add +25.6% | 5.21% | +1.33 |
| BAX Baxter International Inc. | Add +56.1% | 2.72% | +1.12 |
| TNDM Tandem Diabetes Care Inc. | New | 1.11% | +1.11 |
| HUM Humana Inc. | Add +78.6% | 2.12% | +0.90 |
| THC Tenet Healthcare Corp. | Add +95.5% | 1.85% | +0.90 |
| ASND Ascendis Pharma A/S | New | 0.85% | +0.85 |
| ACLX Arcellx Inc. | New | 0.74% | +0.74 |
| SOLV Solventum Corp. | New | 0.73% | +0.73 |
| TGTX TG Therapeutics Inc. | New | 0.69% | +0.69 |
| PTCT PTC Therapeutics Inc. | Add +41.4% | 1.51% | +0.49 |
| ELAN Elanco Animal Health Inc. | Add +72.3% | 1.60% | +0.45 |
| EW Edwards Lifesciences Corp. | Add +24.2% | 2.86% | +0.34 |
| GEHC GE Healthcare Technology | Add +24.0% | 1.60% | +0.26 |
| BDX Becton Dickinson and Co. | Add +7.9% | 6.02% | +0.09 |
| IONS Ionis Pharmaceuticals Inc. | Add +21.2% | 2.76% | −0.07 |
| CNC Centene Corp. | Add +4.1% | 3.44% | −0.10 |
| BRKR Bruker Corp. | Add +33.3% | 2.83% | −0.37 |
All Filings
| Quarter | Positions | 13F Reported Value | Top Holdings |
|---|---|---|---|
| Q2 2026 | 40 | $461.0M | BMY, MRK, MDT, PFE, INCY |
| Q1 2026 | 42 | $423.5M | BMY, MRK, PFE, MDT, INCY |
| Q4 2025 | 36 | $438.7M | BMY, MRK, MDT, BDX, GILD |
| Q3 2025 | 41 | $403.3M | PFE, MDT, MRK, BMY, BDX |
| Q2 2025 | 38 | $305.9M | PFE, MDT, BMY, BDX, MRK |
| Q1 2025 | 33 | $312.2M | BMY, PFE, BDX, MDT, AMGN |
| Q4 2024 | 30 | $290.9M | PFE, MDT, BMY, GILD, BDX |
| Q3 2024 | 29 | $329.6M | BMY, MDT, GILD, PFE, CVS |
| Q2 2024 | 28 | $267.7M | GILD, PFE, BMY, MDT, ELV |
| Q1 2024 | 28 | $354.8M | MDT, PFE, BMY, CVS, CAH |