Sector Gamma As
In its 13F for Q1 2026 (holdings as of March 31, 2026, filed May 7, 2026), Sector Gamma As reported 42 stock positions worth $423.5 million. Its top holding was Bristol-Myers Squibb (BMY) at 11.9% of the portfolio, followed by Merck (MRK, 7.4%) and Pfizer (PFE, 7.2%). Compared with Q4 2025, it opened 11 new positions, sold out of 5, added to 12 and reduced 16. The biggest buy was Bristol-Myers Squibb (BMY, shares +11%) and the biggest sale Gilead Sciences (GILD, shares −70%).
- Most Recent 13F
- Q2 2026
- Location
- OSLO, Q8
- CIK
- 0001475373
- Portfolio Value
- $423.5M (Q1 2026)
- SEC Filing
- 0000945621-26-000644 ↗ filed May 7, 2026
Holdings Value
Holdings 42 stocks · $423.5M
| BMY Bristol-Myers Squibb Co. | 11.86% | 827,901 | $50.2M | Add +11.0% |
| MRK Merck & Co. Inc. | 7.39% | 260,340 | $31.3M | Reduce -28.4% |
| PFE Pfizer Inc. | 7.24% | 1,091,385 | $30.6M | Add +27.0% |
| MDT Medtronic PLC | 5.74% | 280,682 | $24.3M | Add +4.1% |
| INCY Incyte Corp. | 4.46% | 200,510 | $18.9M | Reduce -8.3% |
| AMGN Amgen Inc. | 3.92% | 47,155 | $16.6M | Reduce -22.6% |
| BIIB Biogen Inc. | 3.90% | 90,096 | $16.5M | Add +5.4% |
| ZBH Zimmer Biomet Holdings Inc. | 3.33% | 155,835 | $14.1M | Add +17.6% |
| BMRN Biomarin Pharmaceutical Inc. | 3.20% | 239,918 | $13.6M | Add +20.9% |
| BDX Becton Dickinson and Co. | 3.07% | 82,615 | $13.0M | Reduce -37.6% |
| ELV Elevance Health Inc. | 3.04% | 43,962 | $12.9M | Add +35.1% |
| IONS Ionis Pharmaceuticals Inc. | 3.00% | 169,468 | $12.7M | Reduce -8.4% |
| CAH Cardinal Health Inc. | 2.74% | 54,897 | $11.6M | Reduce -11.4% |
| UNH Unitedhealth Group Inc. | 2.33% | 36,435 | $9.9M | New |
| CVS CVS Health Corp. | 2.30% | 135,337 | $9.7M | Reduce -23.8% |
| BRKR Bruker Corp. | 2.17% | 254,010 | $9.2M | Reduce -0.3% |
| GEHC GE Healthcare Technology | 2.12% | 126,418 | $9.0M | Add +10.5% |
| ABT Abbott Laboratories | 2.12% | 87,532 | $9.0M | New |
| GILD Gilead Sciences Inc. | 1.75% | 53,247 | $7.4M | Reduce -69.8% |
| LNTH Lantheus Holdings Inc. | 1.67% | 93,344 | $7.1M | Reduce -0.5% |
| IQV Iqvia Holdings Inc. | 1.62% | 40,230 | $6.9M | New |
| SNDX Syndax Pharmaceuticals Inc. | 1.58% | 286,007 | $6.7M | Add +13.5% |
| BIO Bio-Rad Laboratories-A | 1.56% | 23,750 | $6.6M | No change |
| QGEN Qiagen N.V. | 1.54% | 162,371 | $6.5M | New |
| AVTR Avantor Inc. | 1.29% | 695,403 | $5.5M | No change |
| CNC Centene Corp. | 1.26% | 162,405 | $5.3M | Reduce -37.1% |
| TNDM Tandem Diabetes Care Inc. | 1.21% | 267,091 | $5.1M | No change |
| PTCT PTC Therapeutics Inc. | 1.21% | 75,000 | $5.1M | Add +21.1% |
| LH Labcorp Holdings Inc. | 1.20% | 19,019 | $5.1M | Reduce -29.6% |
| ASND Ascendis Pharma A/S | 1.15% | 21,305 | $4.9M | Add +30.7% |
| EW Edwards Lifesciences Corp. | 1.14% | 60,402 | $4.8M | Reduce -37.3% |
| DXCM Dexcom Inc. | 0.83% | 56,122 | $3.5M | Reduce -26.3% |
| CRNX Crinetics Pharmaceuticals Inc. | 0.81% | 94,195 | $3.4M | Reduce -18.1% |
| KURA Kura Oncology Inc. | 0.79% | 411,810 | $3.3M | Reduce -9.7% |
| HUM Humana Inc. | 0.79% | 19,202 | $3.3M | New |
| BBIO Bridgebio Pharma Inc. | 0.78% | 44,263 | $3.3M | New |
| IOVA Iovance Biotherapeutics Inc. | 0.75% | 900,000 | $3.2M | New |
| DNLI Denali Therapeutics Inc. | 0.74% | 162,710 | $3.1M | New |
| ARDX Ardelyx Inc. | 0.73% | 516,131 | $3.1M | New |
| COGT Cogent Biosciences Inc. | 0.73% | 80,000 | $3.1M | New |
| OGN Organon & Co. | 0.53% | 375,974 | $2.3M | Add +25.3% |
| ARWR Arrowhead Pharmaceuticals Inc. | 0.44% | 30,000 | $1.9M | New |
Portfolio Sells Q4 2025 → Q1 2026
| GILD Gilead Sciences Inc. | Reduce -69.8% | 1.75% | −3.18 |
| TMO Thermo Fisher Scientific Inc. | Sold out | 0.00% | −2.86 |
| BDX Becton Dickinson and Co. | Reduce -37.6% | 3.07% | −2.79 |
| MRK Merck & Co. Inc. | Reduce -28.4% | 7.39% | −1.33 |
| REGN Regeneron Pharmaceuticals | Sold out | 0.00% | −1.26 |
| CNC Centene Corp. | Reduce -37.1% | 1.26% | −1.17 |
| HCA HCA Healthcare Inc. | Sold out | 0.00% | −1.15 |
| CVS CVS Health Corp. | Reduce -23.8% | 2.30% | −0.92 |
| EW Edwards Lifesciences Corp. | Reduce -37.3% | 1.14% | −0.73 |
| AMGN Amgen Inc. | Reduce -22.6% | 3.92% | −0.63 |
| BRKR Bruker Corp. | Reduce -0.3% | 2.17% | −0.57 |
| CGON CG Oncology Inc. | Sold out | 0.00% | −0.49 |
| INCY Incyte Corp. | Reduce -8.3% | 4.46% | −0.47 |
| CERT Certara Inc. | Sold out | 0.00% | −0.46 |
| CRNX Crinetics Pharmaceuticals Inc. | Reduce -18.1% | 0.81% | −0.41 |
| LH Labcorp Holdings Inc. | Reduce -29.6% | 1.20% | −0.35 |
| IONS Ionis Pharmaceuticals Inc. | Reduce -8.4% | 3.00% | −0.33 |
| DXCM Dexcom Inc. | Reduce -26.3% | 0.83% | −0.32 |
| KURA Kura Oncology Inc. | Reduce -9.7% | 0.79% | −0.29 |
| CAH Cardinal Health Inc. | Reduce -11.4% | 2.74% | −0.16 |
| LNTH Lantheus Holdings Inc. | Reduce -0.5% | 1.67% | +0.25 |
Portfolio Buys Q4 2025 → Q1 2026
| BMY Bristol-Myers Squibb Co. | Add +11.0% | 11.86% | +2.69 |
| PFE Pfizer Inc. | Add +27.0% | 7.24% | +2.36 |
| UNH Unitedhealth Group Inc. | New | 2.33% | +2.33 |
| ABT Abbott Laboratories | New | 2.12% | +2.12 |
| IQV Iqvia Holdings Inc. | New | 1.62% | +1.62 |
| QGEN Qiagen N.V. | New | 1.54% | +1.54 |
| HUM Humana Inc. | New | 0.79% | +0.79 |
| BBIO Bridgebio Pharma Inc. | New | 0.78% | +0.78 |
| IOVA Iovance Biotherapeutics Inc. | New | 0.75% | +0.75 |
| DNLI Denali Therapeutics Inc. | New | 0.74% | +0.74 |
| ARDX Ardelyx Inc. | New | 0.73% | +0.73 |
| COGT Cogent Biosciences Inc. | New | 0.73% | +0.73 |
| ZBH Zimmer Biomet Holdings Inc. | Add +17.6% | 3.33% | +0.61 |
| BMRN Biomarin Pharmaceutical Inc. | Add +20.9% | 3.20% | +0.51 |
| BIIB Biogen Inc. | Add +5.4% | 3.90% | +0.47 |
| ARWR Arrowhead Pharmaceuticals Inc. | New | 0.44% | +0.44 |
| ELV Elevance Health Inc. | Add +35.1% | 3.04% | +0.44 |
| SNDX Syndax Pharmaceuticals Inc. | Add +13.5% | 1.58% | +0.37 |
| ASND Ascendis Pharma A/S | Add +30.7% | 1.15% | +0.36 |
| PTCT PTC Therapeutics Inc. | Add +21.1% | 1.21% | +0.13 |
| OGN Organon & Co. | Add +25.3% | 0.53% | +0.04 |
| GEHC GE Healthcare Technology | Add +10.5% | 2.12% | −0.01 |
| MDT Medtronic PLC | Add +4.1% | 5.74% | −0.16 |
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 |