Sector Gamma As
In its 13F for Q2 2025 (holdings as of June 30, 2025, filed July 31, 2025), Sector Gamma As reported 38 stock positions worth $305.9 million. Its top holding was Pfizer (PFE) at 7.3% of the portfolio, followed by Medtronic (MDT, 6.4%) and Bristol-Myers Squibb (BMY, 6.1%). Compared with Q1 2025, it opened 6 new positions, sold out of 1, added to 12 and reduced 17. The biggest buy was a new position in Merck (MRK) and the biggest sale an exit from Johnson & Johnson (JNJ).
- Most Recent 13F
- Q2 2026
- Location
- OSLO, Q8
- CIK
- 0001475373
- Portfolio Value
- $305.9M (Q2 2025)
- SEC Filing
- 0000945621-25-000646 ↗ filed Jul 31, 2025
Holdings Value
Holdings 38 stocks · $305.9M
| PFE Pfizer Inc. | 7.29% | 920,000 | $22.3M | Reduce -0.5% |
| MDT Medtronic PLC | 6.38% | 224,000 | $19.5M | Add +9.3% |
| BMY Bristol-Myers Squibb Co. | 6.14% | 406,000 | $18.8M | Reduce -6.7% |
| BDX Becton Dickinson and Co. | 5.52% | 98,000 | $16.9M | Add +19.5% |
| MRK Merck & Co. Inc. | 5.23% | 202,000 | $16.0M | New |
| GILD Gilead Sciences Inc. | 4.60% | 127,000 | $14.1M | Reduce -9.3% |
| INCY Incyte Corp. | 4.54% | 204,000 | $13.9M | Add +28.3% |
| AMGN Amgen Inc. | 4.02% | 44,000 | $12.3M | Reduce -25.4% |
| IONS Ionis Pharmaceuticals Inc. | 3.69% | 285,842 | $11.3M | No change |
| CVS CVS Health Corp. | 3.68% | 163,000 | $11.2M | Reduce -19.3% |
| CAH Cardinal Health Inc. | 3.62% | 66,000 | $11.1M | Reduce -25.0% |
| TMO Thermo Fisher Scientific Inc. | 3.38% | 25,500 | $10.3M | New |
| CNC Centene Corp. | 2.70% | 152,000 | $8.3M | Reduce -14.1% |
| BAX Baxter International Inc. | 2.65% | 268,007 | $8.1M | Add +8.2% |
| ZBH Zimmer Biomet Holdings Inc. | 2.64% | 88,631 | $8.1M | Reduce -22.0% |
| BRKR Bruker Corp. | 2.64% | 195,970 | $8.1M | Reduce -7.5% |
| ELV Elevance Health Inc. | 2.39% | 18,779 | $7.3M | Reduce -34.8% |
| BMRN Biomarin Pharmaceutical Inc. | 2.20% | 122,348 | $6.7M | Reduce -10.9% |
| BIIB Biogen Inc. | 2.08% | 50,639 | $6.4M | Add +171.7% |
| HUM Humana Inc. | 1.88% | 23,500 | $5.7M | Reduce -6.0% |
| QGEN Qiagen N.V. | 1.84% | 117,000 | $5.6M | Reduce -37.4% |
| GEHC GE Healthcare Technology | 1.79% | 74,000 | $5.5M | Add +19.4% |
| LH Labcorp Holdings Inc. | 1.67% | 19,484 | $5.1M | New |
| AVTR Avantor Inc. | 1.64% | 372,638 | $5.0M | New |
| PTCT PTC Therapeutics Inc. | 1.47% | 92,250 | $4.5M | No change |
| DXCM Dexcom Inc. | 1.43% | 50,000 | $4.4M | New |
| BIO Bio-Rad Laboratories-A | 1.41% | 17,829 | $4.3M | Add +28.9% |
| ELAN Elanco Animal Health Inc. | 1.36% | 292,073 | $4.2M | Reduce -38.8% |
| LNTH Lantheus Holdings Inc. | 1.35% | 50,301 | $4.1M | Add +101.2% |
| BNTX Biontech SE-ADR | 1.30% | 37,470 | $4.0M | Add +24.9% |
| TNDM Tandem Diabetes Care Inc. | 1.28% | 210,523 | $3.9M | Add +16.6% |
| EW Edwards Lifesciences Corp. | 1.07% | 42,000 | $3.3M | Reduce -65.8% |
| HCA HCA Healthcare Inc. | 1.00% | 8,000 | $3.1M | New |
| TGTX TG Therapeutics Inc. | 0.96% | 82,000 | $3.0M | Add +49.1% |
| ASND Ascendis Pharma A/S | 0.96% | 17,000 | $2.9M | No change |
| SOLV Solventum Corp. | 0.94% | 38,000 | $2.9M | Add +26.7% |
| THC Tenet Healthcare Corp. | 0.72% | 12,500 | $2.2M | Reduce -70.9% |
| ACLX Arcellx Inc. | 0.54% | 25,000 | $1.6M | Reduce -28.6% |
Portfolio Sells Q1 2025 → Q2 2025
| JNJ Johnson & Johnson | Sold out | 0.00% | −5.21 |
| BMY Bristol-Myers Squibb Co. | Reduce -6.7% | 6.14% | −2.36 |
| AMGN Amgen Inc. | Reduce -25.4% | 4.02% | −1.87 |
| EW Edwards Lifesciences Corp. | Reduce -65.8% | 1.07% | −1.78 |
| ELV Elevance Health Inc. | Reduce -34.8% | 2.39% | −1.62 |
| ZBH Zimmer Biomet Holdings Inc. | Reduce -22.0% | 2.64% | −1.48 |
| THC Tenet Healthcare Corp. | Reduce -70.9% | 0.72% | −1.13 |
| BMRN Biomarin Pharmaceutical Inc. | Reduce -10.9% | 2.20% | −0.91 |
| CNC Centene Corp. | Reduce -14.1% | 2.70% | −0.75 |
| CVS CVS Health Corp. | Reduce -19.3% | 3.68% | −0.71 |
| QGEN Qiagen N.V. | Reduce -37.4% | 1.84% | −0.57 |
| GILD Gilead Sciences Inc. | Reduce -9.3% | 4.60% | −0.42 |
| CAH Cardinal Health Inc. | Reduce -25.0% | 3.62% | −0.26 |
| ELAN Elanco Animal Health Inc. | Reduce -38.8% | 1.36% | −0.24 |
| HUM Humana Inc. | Reduce -6.0% | 1.88% | −0.24 |
| PFE Pfizer Inc. | Reduce -0.5% | 7.29% | −0.22 |
| ACLX Arcellx Inc. | Reduce -28.6% | 0.54% | −0.20 |
| BRKR Bruker Corp. | Reduce -7.5% | 2.64% | −0.20 |
Portfolio Buys Q1 2025 → Q2 2025
| MRK Merck & Co. Inc. | New | 5.23% | +5.23 |
| TMO Thermo Fisher Scientific Inc. | New | 3.38% | +3.38 |
| LH Labcorp Holdings Inc. | New | 1.67% | +1.67 |
| AVTR Avantor Inc. | New | 1.64% | +1.64 |
| INCY Incyte Corp. | Add +28.3% | 4.54% | +1.46 |
| DXCM Dexcom Inc. | New | 1.43% | +1.43 |
| BIIB Biogen Inc. | Add +171.7% | 2.08% | +1.26 |
| HCA HCA Healthcare Inc. | New | 1.00% | +1.00 |
| LNTH Lantheus Holdings Inc. | Add +101.2% | 1.35% | +0.56 |
| MDT Medtronic PLC | Add +9.3% | 6.38% | +0.48 |
| BNTX Biontech SE-ADR | Add +24.9% | 1.30% | +0.43 |
| BIO Bio-Rad Laboratories-A | Add +28.9% | 1.41% | +0.33 |
| TGTX TG Therapeutics Inc. | Add +49.1% | 0.96% | +0.27 |
| SOLV Solventum Corp. | Add +26.7% | 0.94% | +0.21 |
| GEHC GE Healthcare Technology | Add +19.4% | 1.79% | +0.19 |
| TNDM Tandem Diabetes Care Inc. | Add +16.6% | 1.28% | +0.17 |
| BAX Baxter International Inc. | Add +8.2% | 2.65% | −0.06 |
| BDX Becton Dickinson and Co. | Add +19.5% | 5.52% | −0.50 |
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 |