Sectoral Asset Management Inc.
In its 13F for Q2 2025 (holdings as of June 30, 2025, filed August 14, 2025), Sectoral Asset Management Inc. reported 94 stock positions worth $151.5 million. Its top holding was Lenz Therapeutics (LENZ) at 18.9% of the portfolio, followed by Eli Lilly (LLY, 4.6%) and Unitedhealth (UNH, 3.4%). Compared with Q1 2025, it opened 25 new positions, sold out of 15, added to 23 and reduced 25. The biggest buy was Oric Pharmaceuticals (ORIC, shares +1057%) and the biggest sale an exit from Medtronic (MDT).
- Most Recent 13F
- Q2 2026
- Location
- MONTREAL, A8
- CIK
- 0001274413
- Portfolio Value
- $151.5M (Q2 2025)
- SEC Filing
- 0001104659-25-078356 ↗ filed Aug 14, 2025
Holdings Value
Holdings 94 stocks · $151.5M
| LENZ Lenz Therapeutics Inc. | 18.91% | 977,245 | $28.6M | No change |
| LLY Eli Lilly & Co. | 4.62% | 8,976 | $7.0M | Reduce -4.7% |
| UNH Unitedhealth Group Inc. | 3.45% | 16,745 | $5.2M | Add +29.9% |
| MLYS Mineralys Therapeutics Inc. | 3.42% | 382,415 | $5.2M | Add +3.2% |
| CTNM Contineum Therapeutics Inc. Class A | 2.10% | 800,787 | $3.2M | No change |
| AMGN Amgen Inc. | 2.08% | 11,270 | $3.1M | Add +8.5% |
| VRTX Vertex Pharmaceuticals Inc. | 2.04% | 6,945 | $3.1M | Add +47.0% |
| JNJ Johnson & Johnson | 1.95% | 19,300 | $2.9M | Reduce -11.5% |
| ISRG Intuitive Surgical Inc. | 1.88% | 5,250 | $2.9M | No change |
| ABBV Abbvie Inc. | 1.81% | 14,800 | $2.7M | No change |
| ORIC Oric Pharmaceuticals Inc. | 1.55% | 231,485 | $2.3M | Add +1057.4% |
| BSX Boston Scientific Corp. | 1.50% | 21,126 | $2.3M | Reduce -12.8% |
| ARGX Argenx SE - ADR | 1.49% | 4,085 | $2.3M | Add +31.6% |
| MBX MBX Biosciences Inc. | 1.45% | 191,825 | $2.2M | New |
| GILD Gilead Sciences Inc. | 1.44% | 19,690 | $2.2M | Reduce -38.5% |
| PVLA Palvella Therapeutics Inc. | 1.42% | 95,615 | $2.2M | New |
| REPL Replimune Group Inc. | 1.42% | 231,650 | $2.2M | New |
| RCUS Arcus Biosciences Inc. | 1.38% | 257,270 | $2.1M | Add +857.5% |
| DHR Danaher Corp. | 1.38% | 10,575 | $2.1M | No change |
| ABT Abbott Laboratories | 1.36% | 15,198 | $2.1M | Reduce -18.7% |
| SLDB Solid Biosciences Inc. | 1.36% | 421,580 | $2.1M | New |
| RAPP Rapport Therapeutics Inc. | 1.35% | 179,860 | $2.0M | New |
| ZBIO Zenas Biopharma Inc. | 1.35% | 210,625 | $2.0M | New |
| VTYX Ventyx Biosciences Inc. | 1.32% | 931,620 | $2.0M | New |
| TECX Tectonic Therapeutic Inc. | 1.30% | 98,970 | $2.0M | New |
| BCAX Bicara Therapeutics Inc. | 1.24% | 201,395 | $1.9M | New |
| PFE Pfizer Inc. | 1.23% | 77,150 | $1.9M | Add +29.3% |
| ONC Beone Medicines Ltd.-ADR | 1.23% | 7,716 | $1.9M | Add +163.6% |
| KURA Kura Oncology Inc. | 1.23% | 323,572 | $1.9M | New |
| TRML Tourmaline Bio Inc. | 1.23% | 116,510 | $1.9M | New |
| ANAB Anaptysbio Inc. | 1.23% | 83,900 | $1.9M | New |
| TIL Instil Bio Inc. | 1.19% | 86,220 | $1.8M | New |
| IMTX Immatics NV | 1.18% | 332,270 | $1.8M | New |
| BNTX Biontech SE-ADR | 1.14% | 16,160 | $1.7M | Reduce -5.9% |
| MRK Merck & Co. Inc. | 1.10% | 20,900 | $1.7M | Reduce -22.3% |
| TMO Thermo Fisher Scientific Inc. | 1.04% | 3,900 | $1.6M | Add +20.0% |
| SYK Stryker Corp. | 1.02% | 3,900 | $1.5M | Reduce -36.1% |
| INSM Insmed Inc. | 0.99% | 14,880 | $1.5M | Reduce -2.3% |
| REGN Regeneron Pharmaceuticals | 0.96% | 2,773 | $1.5M | No change |
| SMMT Summit Therapeutics Inc. | 0.92% | 65,220 | $1.4M | Reduce -5.8% |
| AZN Astrazeneca PLC-Spons ADR | 0.86% | 18,640 | $1.3M | Reduce -0.8% |
| BMRN Biomarin Pharmaceutical Inc. | 0.85% | 23,530 | $1.3M | No change |
| EW Edwards Lifesciences Corp. | 0.77% | 15,000 | $1.2M | New |
| DXCM Dexcom Inc. | 0.76% | 13,200 | $1.2M | Reduce -12.0% |
| SPRY Ars Pharmaceuticals Inc. | 0.76% | 65,785 | $1.1M | Reduce -34.4% |
| ALNY Alnylam Pharmaceuticals Inc. | 0.72% | 3,323 | $1.1M | Reduce -36.2% |
| GPCR Structure Therapeutics Inc. | 0.70% | 51,369 | $1.1M | Add +52.5% |
| VERA Vera Therapeutics Inc. | 0.64% | 41,418 | $976K | Add +46.1% |
| MRUS Merus NV | 0.54% | 15,675 | $825K | New |
| GMED Globus Medical Inc. Class A | 0.53% | 13,500 | $797K | New |
| AVBP Arrivent Biopharma Inc. | 0.51% | 35,580 | $775K | Add +252.6% |
| QURE Uniqure NV | 0.51% | 55,450 | $773K | Reduce -3.6% |
| TARS Tarsus Pharmaceuticals Inc. | 0.50% | 18,535 | $751K | Add +7.5% |
| TRVI Trevi Therapeutics Inc. | 0.48% | 134,150 | $734K | Add +64.0% |
| MLTX Moonlake Immunotherapeutics | 0.47% | 15,108 | $713K | No change |
| RDNT Radnet Inc. | 0.47% | 12,500 | $711K | Reduce -37.5% |
| LEGN Legend Biotech Corp.-ADR | 0.46% | 19,627 | $697K | Reduce -45.4% |
| BBIO Bridgebio Pharma Inc. | 0.46% | 16,085 | $695K | No change |
| BOLD Boundless Bio Inc. | 0.45% | 678,574 | $685K | No change |
| FOLD Amicus Therapeutics Inc. | 0.45% | 119,585 | $685K | Add +11.2% |
| CNC Centene Corp. | 0.45% | 12,500 | $679K | New |
| OMDA Omada Health Inc. | 0.42% | 34,500 | $631K | New |
| ASND Ascendis Pharma A/S | 0.40% | 3,471 | $599K | Add +66.0% |
| CI The Cigna Group | 0.39% | 1,800 | $595K | New |
| SNDX Syndax Pharmaceuticals Inc. | 0.39% | 63,300 | $593K | New |
| KMTS Kestra Medical Technologies | 0.38% | 35,000 | $580K | New |
| ROIV Roivant Sciences Ltd. | 0.37% | 50,007 | $564K | Add +2.3% |
| ZLAB Zai Lab Ltd.-ADR | 0.37% | 15,840 | $554K | Reduce -47.1% |
| BMY Bristol-Myers Squibb Co. | 0.33% | 10,800 | $500K | Reduce -44.6% |
| HNGE Hinge Health Inc. Class A | 0.31% | 9,206 | $476K | New |
| CVRX CVRX Inc. | 0.29% | 73,500 | $432K | Add +7.3% |
| PTCT PTC Therapeutics Inc. | 0.28% | 8,535 | $417K | Add +2.2% |
| INCY Incyte Corp. | 0.27% | 6,060 | $413K | Reduce -1.4% |
| CYTK Cytokinetics Inc. | 0.26% | 11,723 | $387K | Reduce -35.1% |
| NBIX Neurocrine Biosciences Inc. | 0.25% | 2,960 | $372K | Add +1.9% |
| SRRK Scholar Rock Holding Corp. | 0.24% | 10,380 | $368K | New |
| IONS Ionis Pharmaceuticals Inc. | 0.24% | 9,205 | $364K | Reduce -2.5% |
| RPRX Royalty Pharma PLC Class A | 0.22% | 9,280 | $334K | No change |
| BIIB Biogen Inc. | 0.20% | 2,375 | $298K | Reduce -16.8% |
| ILMN Illumina Inc. | 0.18% | 2,782 | $265K | Reduce -24.4% |
| JAZZ Jazz Pharmaceuticals PLC | 0.16% | 2,274 | $241K | No change |
| TEM Tempus AI Inc. Class A | 0.16% | 3,760 | $239K | Add +74.1% |
| RVMD Revolution Medicines Inc. | 0.15% | 6,240 | $230K | No change |
| CAI Caris Life Sciences Inc. | 0.15% | 8,350 | $223K | New |
| MDGL Madrigal Pharmaceuticals Inc. | 0.15% | 730 | $221K | No change |
| UTHR United Therapeutics Corp. | 0.15% | 765 | $220K | No change |
| VTRS Viatris Inc. | 0.12% | 19,800 | $177K | No change |
| MEDP Medpace Holdings Inc. | 0.11% | 531 | $167K | No change |
| IOBTQ Io Biotech Inc. | 0.11% | 117,691 | $164K | Add +23.9% |
| MRNA Moderna Inc. | 0.10% | 5,600 | $155K | No change |
| PCVX Vaxcyte Inc. | 0.09% | 4,205 | $137K | Reduce -80.0% |
| CRSP Crispr Therapeutics AG | 0.08% | 2,540 | $124K | No change |
| AXSM Axsome Therapeutics Inc. | 0.07% | 1,020 | $106K | No change |
| RXRX Recursion Pharmaceuticals-A | 0.04% | 11,500 | $58K | No change |
Portfolio Sells Q1 2025 → Q2 2025
| MDT Medtronic PLC | Sold out | 0.00% | −1.67 |
| LLY Eli Lilly & Co. | Reduce -4.7% | 4.62% | −1.43 |
| GILD Gilead Sciences Inc. | Reduce -38.5% | 1.44% | −1.35 |
| THC Tenet Healthcare Corp. | Sold out | 0.00% | −0.94 |
| SWTX Springworks Therapeutics Inc. | Sold out | 0.00% | −0.87 |
| JNJ Johnson & Johnson | Reduce -11.5% | 1.95% | −0.87 |
| MRK Merck & Co. Inc. | Reduce -22.3% | 1.10% | −0.78 |
| BPMC Blueprint Medicines Corp. | Sold out | 0.00% | −0.77 |
| SYK Stryker Corp. | Reduce -36.1% | 1.02% | −0.75 |
| PHR Phreesia Inc. | Sold out | 0.00% | −0.68 |
| BMY Bristol-Myers Squibb Co. | Reduce -44.6% | 0.33% | −0.60 |
| ABT Abbott Laboratories | Reduce -18.7% | 1.36% | −0.57 |
| ICLR Icon PLC | Sold out | 0.00% | −0.54 |
| PCVX Vaxcyte Inc. | Reduce -80.0% | 0.09% | −0.53 |
| CLOV Clover Health Investments Co. | Sold out | 0.00% | −0.51 |
| ELV Elevance Health Inc. | Sold out | 0.00% | −0.51 |
| LEGN Legend Biotech Corp.-ADR | Reduce -45.4% | 0.46% | −0.49 |
| ZLAB Zai Lab Ltd.-ADR | Reduce -47.1% | 0.37% | −0.48 |
| BSX Boston Scientific Corp. | Reduce -12.8% | 1.50% | −0.40 |
| ALNY Alnylam Pharmaceuticals Inc. | Reduce -36.2% | 0.72% | −0.38 |
| COGT Cogent Biosciences Inc. | Sold out | 0.00% | −0.37 |
| CYTK Cytokinetics Inc. | Reduce -35.1% | 0.26% | −0.31 |
| RDNT Radnet Inc. | Reduce -37.5% | 0.47% | −0.30 |
| SGOV iShares 0-3 Month Treasury B | Sold out | 0.00% | −0.28 |
| RCKT Rocket Pharmaceuticals Inc. | Sold out | 0.00% | −0.23 |
| SPRY Ars Pharmaceuticals Inc. | Reduce -34.4% | 0.76% | −0.22 |
| AZN Astrazeneca PLC-Spons ADR | Reduce -0.8% | 0.86% | −0.21 |
| NVO Novo-Nordisk A/S-Spons ADR | Sold out | 0.00% | −0.15 |
| CRNX Crinetics Pharmaceuticals Inc. | Sold out | 0.00% | −0.15 |
| SMMT Summit Therapeutics Inc. | Reduce -5.8% | 0.92% | −0.12 |
| BIIB Biogen Inc. | Reduce -16.8% | 0.20% | −0.11 |
| BNTX Biontech SE-ADR | Reduce -5.9% | 1.14% | −0.08 |
| ARVN Arvinas Inc. | Sold out | 0.00% | −0.07 |
| ILMN Illumina Inc. | Reduce -24.4% | 0.18% | −0.05 |
| ENGN Engene Holdings Inc. | Sold out | 0.00% | −0.04 |
| DXCM Dexcom Inc. | Reduce -12.0% | 0.76% | −0.04 |
| INCY Incyte Corp. | Reduce -1.4% | 0.27% | −0.02 |
| IONS Ionis Pharmaceuticals Inc. | Reduce -2.5% | 0.24% | +0.02 |
| QURE Uniqure NV | Reduce -3.6% | 0.51% | +0.04 |
| INSM Insmed Inc. | Reduce -2.3% | 0.99% | +0.08 |
Portfolio Buys Q1 2025 → Q2 2025
| ORIC Oric Pharmaceuticals Inc. | Add +1057.4% | 1.55% | +1.46 |
| MBX MBX Biosciences Inc. | New | 1.45% | +1.45 |
| PVLA Palvella Therapeutics Inc. | New | 1.42% | +1.42 |
| REPL Replimune Group Inc. | New | 1.42% | +1.42 |
| SLDB Solid Biosciences Inc. | New | 1.36% | +1.36 |
| RAPP Rapport Therapeutics Inc. | New | 1.35% | +1.35 |
| ZBIO Zenas Biopharma Inc. | New | 1.35% | +1.35 |
| VTYX Ventyx Biosciences Inc. | New | 1.32% | +1.32 |
| TECX Tectonic Therapeutic Inc. | New | 1.30% | +1.30 |
| BCAX Bicara Therapeutics Inc. | New | 1.24% | +1.24 |
| KURA Kura Oncology Inc. | New | 1.23% | +1.23 |
| TRML Tourmaline Bio Inc. | New | 1.23% | +1.23 |
| ANAB Anaptysbio Inc. | New | 1.23% | +1.23 |
| RCUS Arcus Biosciences Inc. | Add +857.5% | 1.38% | +1.22 |
| TIL Instil Bio Inc. | New | 1.19% | +1.19 |
| IMTX Immatics NV | New | 1.18% | +1.18 |
| EW Edwards Lifesciences Corp. | New | 0.77% | +0.77 |
| ONC Beone Medicines Ltd.-ADR | Add +163.6% | 1.23% | +0.61 |
| MRUS Merus NV | New | 0.54% | +0.54 |
| GMED Globus Medical Inc. Class A | New | 0.53% | +0.53 |
| CNC Centene Corp. | New | 0.45% | +0.45 |
| OMDA Omada Health Inc. | New | 0.42% | +0.42 |
| CI The Cigna Group | New | 0.39% | +0.39 |
| SNDX Syndax Pharmaceuticals Inc. | New | 0.39% | +0.39 |
| KMTS Kestra Medical Technologies | New | 0.38% | +0.38 |
| AVBP Arrivent Biopharma Inc. | Add +252.6% | 0.51% | +0.37 |
| HNGE Hinge Health Inc. Class A | New | 0.31% | +0.31 |
| VRTX Vertex Pharmaceuticals Inc. | Add +47.0% | 2.04% | +0.26 |
| GPCR Structure Therapeutics Inc. | Add +52.5% | 0.70% | +0.25 |
| SRRK Scholar Rock Holding Corp. | New | 0.24% | +0.24 |
| CAI Caris Life Sciences Inc. | New | 0.15% | +0.15 |
| ASND Ascendis Pharma A/S | Add +66.0% | 0.40% | +0.14 |
| VERA Vera Therapeutics Inc. | Add +46.1% | 0.64% | +0.11 |
| TRVI Trevi Therapeutics Inc. | Add +64.0% | 0.48% | +0.08 |
| TEM Tempus AI Inc. Class A | Add +74.1% | 0.16% | +0.08 |
| PFE Pfizer Inc. | Add +29.3% | 1.23% | +0.06 |
| ARGX Argenx SE - ADR | Add +31.6% | 1.49% | +0.06 |
| IOBTQ Io Biotech Inc. | Add +23.9% | 0.11% | +0.03 |
| NBIX Neurocrine Biosciences Inc. | Add +1.9% | 0.25% | −0.00 |
| ROIV Roivant Sciences Ltd. | Add +2.3% | 0.37% | −0.01 |
| PTCT PTC Therapeutics Inc. | Add +2.2% | 0.28% | −0.06 |
| TARS Tarsus Pharmaceuticals Inc. | Add +7.5% | 0.50% | −0.19 |
| TMO Thermo Fisher Scientific Inc. | Add +20.0% | 1.04% | −0.21 |
| FOLD Amicus Therapeutics Inc. | Add +11.2% | 0.45% | −0.23 |
| CVRX CVRX Inc. | Add +7.3% | 0.29% | −0.37 |
| AMGN Amgen Inc. | Add +8.5% | 2.08% | −0.44 |
| MLYS Mineralys Therapeutics Inc. | Add +3.2% | 3.42% | −1.16 |
| UNH Unitedhealth Group Inc. | Add +29.9% | 3.45% | −1.81 |
All Filings
| Quarter | Positions | 13F Reported Value | Top Holdings |
|---|---|---|---|
| Q2 2026 | 82 | $143.3M | CTNM, SI, LLY, UNH, JNJ |
| Q1 2026 | 77 | $120.7M | EVMN, CTNM, SI, LLY, JNJ |
| Q4 2025 | 74 | $124.8M | EVMN, CTNM, LLY, SI, UNH |
| Q3 2025 | 82 | $162.0M | CTNM, LLY, GPCR, ANAB, SI |
| Q2 2025 | 94 | $151.5M | LENZ, LLY, UNH, MLYS, CTNM |
| Q1 2025 | 84 | $128.5M | LENZ, LLY, UNH, MLYS, CTNM |
| Q4 2024 | 86 | $149.8M | LENZ, CTNM, LLY, UNH, GILD |
| Q3 2024 | 90 | $169.3M | LENZ, CTNM, LLY, UNH, GILD |
| Q2 2024 | 97 | $246.1M | LLY, LENZ, CTNM, UNH, MRK |
| Q1 2024 | 92 | $254.4M | LENZ, LLY, BOLD, UNH, MRK |