CIK: 0001475373
Total reported value
$423.5M
Reporting period: 2026-03-31 · Number of holdings: 42
SECTOR GAMMA AS disclosed 42 holdings in its latest 13F filing for the period ending 2026-03-31, with total reported value of $423.5M and a quarterly turnover rate of 42.2%.
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Sector Gamma As's disclosed holdings carry a Herfindahl concentration index of 0.044 — mathematically equivalent to about 23 equally-sized positions, well below its 42 actual disclosed holdings. That gap points to a strategy built around a small core of high-conviction bets rather than broad diversification.
Position sizes are fairly uniform across the portfolio (a coefficient of variation of 0.94), suggesting a disciplined, rules-based approach to how much capital goes into each idea.
No strong tilt toward either adding to existing winners or initiating outsized new positions was observed in the latest reported quarter.
Trim GILD
-69.8% -$14.2M
Trim BDX
-37.6% -$12.7M
Add BMY
+11.0% $10.0M
Add PFE
+27.0% $9.2M
Trim MRK
-28.4% -$7.0M
Trim CNC
-37.1% -$5.3M
| # | Ticker | Issuer | Asset Subclass | Weight | Weight Change | Shares Change | 4Q Trend |
|---|---|---|---|---|---|---|---|
| 1 | BMY | Bristol-myers Squibb Co | Stock-Healthcare | 11.86% | +2.69% | +10.99% | |
| 2 | MRK | Merck & Co. INC. | Stock-Healthcare | 7.39% | -1.33% | -28.41% | |
| 3 | PFE | Pfizer INC | Stock-Healthcare | 7.24% | +2.36% | +26.97% | |
| 4 | MDT | Medtronic plc | Stock-Healthcare | 5.74% | -0.16% | +4.09% | |
| 5 | INCY | Incyte CORP | Stock-Healthcare | 4.46% | -0.47% | -8.35% | |
| 6 | AMGN | Amgen INC | Stock-Healthcare | 3.92% | -0.63% | -22.64% | |
| 7 | BIIB | Biogen INC | Stock-Healthcare | 3.90% | +0.47% | +5.41% | |
| 8 | ZBH | Zimmer Biomet Holdings INC | Stock-Healthcare | 3.33% | +0.61% | +17.63% | |
| 9 | BMRN | Biomarin Pharmaceutical INC | Stock-Healthcare | 3.20% | +0.51% | +20.86% | |
| 10 | BDX | Becton Dickinson And Co | Stock-Healthcare | 3.07% | -2.79% | -37.59% | |
| 11 | ELV | Elevance Health INC | Stock-Healthcare | 3.04% | +0.44% | +35.08% | |
| 12 | IONS | Ionis Pharmaceuticals INC | Stock-Healthcare | 3.00% | -0.34% | -8.38% | |
| 13 | CAH | Cardinal Health INC | Stock-Healthcare | 2.74% | -0.16% | -11.38% | |
| 14 | UNH | Unitedhealth Group INC | Stock-Healthcare | 2.33% | +2.33% | NEW | |
| 15 | CVS | Cvs Health CORP | Stock-Healthcare | 2.30% | -0.91% | -23.80% | |
| 16 | BRKR | Bruker CORP | Stock-Healthcare | 2.17% | -0.57% | -0.27% | |
| 17 | GEHC | GE Healthcare Technology | Stock-Healthcare | 2.12% | -0.02% | +10.51% | |
| 18 | ABT | Abbott Laboratories | Stock-Healthcare | 2.12% | +2.12% | NEW | |
| 19 | GILD | Gilead Sciences INC | Stock-Healthcare | 1.75% | -3.19% | -69.82% | |
| 20 | LNTH | Lantheus Holdings INC | Stock-Healthcare | 1.67% | +0.25% | -0.51% | |
| 21 | IQV | Iqvia Holdings INC | Stock-Healthcare | 1.62% | +1.62% | NEW | |
| 22 | SNDX | Syndax Pharmaceuticals INC | Stock-Other | 1.58% | +0.37% | +13.47% | |
| 23 | BIO | Bio-rad Laboratories-a | Stock-Healthcare | 1.56% | -0.08% | — | |
| 24 | QGEN | Qiagen N.V. | Stock-Healthcare | 1.54% | +1.54% | NEW | |
| 25 | AVTR | Avantor INC | Stock-Healthcare | 1.29% | -0.53% | — | |
| 26 | CNC | Centene CORP | Stock-Healthcare | 1.26% | -1.16% | -37.08% | |
| 27 | TNDM | Tandem Diabetes Care INC | Stock-Other | 1.21% | -0.13% | — | |
| 28 | PTCT | Ptc Therapeutics INC | Stock-Healthcare | 1.21% | +0.14% | +21.12% | |
| 29 | LH | Labcorp Holdings INC | Stock-Healthcare | 1.20% | -0.35% | -29.61% | |
| 30 | ASND | Ascendis Pharma A/S | Stock-Other | 1.15% | +0.36% | +30.67% | |
| 31 | EW | Edwards Lifesciences CORP | Stock-Healthcare | 1.14% | -0.73% | -37.34% | |
| 32 | DXCM | Dexcom INC | Stock-Healthcare | 0.83% | -0.32% | -26.27% | |
| 33 | CRNX | Crinetics Pharmaceuticals In | Stock-Other | 0.81% | -0.41% | -18.09% | |
| 34 | KURA | Kura Oncology INC | Stock-Other | 0.79% | -0.29% | -9.66% | |
| 35 | HUM | Humana INC | Stock-Healthcare | 0.79% | +0.79% | NEW | |
| 36 | BBIO | Bridgebio Pharma INC | Stock-Healthcare | 0.78% | +0.78% | NEW | |
| 37 | IOVA | Iovance Biotherapeutics INC | Stock-Other | 0.75% | +0.75% | NEW | |
| 38 | DNLI | Denali Therapeutics INC | Stock-Other | 0.74% | +0.74% | NEW | |
| 39 | ARDX | Ardelyx INC | Stock-Other | 0.73% | +0.73% | NEW | |
| 40 | COGT | Cogent Biosciences INC | Stock-Other | 0.73% | +0.73% | NEW | |
| 41 | OGN | Organon & Co | Stock-Healthcare | 0.53% | +0.04% | +25.32% | |
| 42 | ARWR | Arrowhead Pharmaceuticals In | Stock-Healthcare | 0.44% | +0.44% | NEW |
Performance for Q3 2026
+11.6%
Performance Last 4 Quarters
+27.1%
Based on 81% of reported portfolio value with available pricing
| Period | Holdings | Total value | Stability | Top holdings |
|---|---|---|---|---|
| 2026-03-31 | 42 | $423.5M | 42 | |
| 2025-12-31 | 36 | $438.7M | 40 | |
| 2025-09-30 | 41 | $403.3M | 58 | |
| 2025-06-30 | 38 | $305.9M | 0 | |
| 2025-03-31 | 33 | $312.2M | 100 | |
| 2024-12-31 | 30 | $290.9M | 0 | |
| 2024-09-30 | 29 | $329.6M | 0 | |
| 2024-06-30 | 28 | $267.7M | 0 | |
| 2024-03-31 | 28 | $354.8M | 0 | |
| 2023-12-31 | 30 | $412.1M | 0 | |
| 2023-09-30 | 28 | $391.3M | 0 | |
| 2023-06-30 | 29 | $446.9M | 0 | |
| 2023-03-31 | 31 | $412.5M | 0 | |
| 2022-12-31 | 31 | $437.4M | 0 | |
| 2022-09-30 | 31 | $388.0M | 0 | |
| 2022-06-30 | 37 | $447.0M | 0 | |
| 2022-03-31 | 40 | $460.2M | 0 | |
| 2021-12-31 | 33 | $425.4M | 0 | |
| 2021-09-30 | 29 | $501.3M | 0 | |
| 2021-06-30 | 37 | $564.6M | 98 | |
| 2021-03-31 | 33 | $546.0M | 36 | |
| 2020-12-31 | 29 | $525.5M | 41 | |
| 2020-09-30 | 28 | $439.4M | 32 | |
| 2020-06-30 | 32 | $484.4M | 31 | |
| 2020-03-31 | 31 | $469.0M | 42 | |
| 2019-12-31 | 37 | $624.4M | 40 | |
| 2019-09-30 | 34 | $591.8M | 28 | |
| 2019-06-30 | 34 | $622.1M | 27 | |
| 2019-03-31 | 33 | $623.5M | 40 | |
| 2018-12-31 | 33 | $594.7M | 43 | |
| 2018-09-30 | 31 | $637.8M | 34 | |
| 2018-06-30 | 32 | $601.7M | 28 | |
| 2018-03-31 | 30 | $554.9M | 41 | |
| 2017-12-31 | 36 | $594.9M | 41 | |
| 2017-09-30 | 28 | $656.1M | 32 | |
| 2017-06-30 | 26 | $687.8M | 26 | |
| 2017-03-31 | 26 | $628.8M | 32 | |
| 2016-12-31 | 26 | $531.5M | 93 | |
| 2016-09-30 | 24 | $533.9M | 0 | |
| 2016-06-30 | 24 | $494.1M | 0 | |
| 2016-03-31 | 24 | $477.4M | 0 | |
| 2015-12-31 | 24 | $389.2M | 35 | |
| 2015-09-30 | 24 | $369.4M | 40 | |
| 2015-06-30 | 24 | $391.7M | 33 | |
| 2015-03-31 | 26 | $378.2M | 30 | |
| 2014-12-31 | 30 | $449.6M | 38 | |
| 2014-09-30 | 33 | $427.4M | 32 | |
| 2014-06-30 | 31 | $422.7M | 42 | |
| 2014-03-31 | 31 | $417.1M | 57 | |
| 2013-12-31 | 33 | $370.6M | 46 | |
| 2013-09-30 | 33 | $389.8M | 36 | |
| 2013-06-30 | 33 | $342.9M | 0 |
Sector Gamma As's most significant position changes for 2026-03-31: Sold out: Thermo Fisher Scientific INC (TMO); New buy: Unitedhealth Group INC (UNH); New buy: Abbott Laboratories (ABT); New buy: Iqvia Holdings INC (IQV); New buy: Qiagen N.V. (QGEN).
| # | Ticker | Issuer | Weight Change | Shares Change | Action |
|---|---|---|---|---|---|
| 1 | BMY | Bristol-myers Squibb Co | +2.7% | +10.99% | Add |
| 2 | PFE | Pfizer INC | +2.4% | +26.97% | Add |
| 3 | ZBH | Zimmer Biomet Holdings INC | +0.6% | +17.63% | Add |
| 4 | BMRN | Biomarin Pharmaceutical INC | +0.5% | +20.86% | Add |
| 5 | BIIB | Biogen INC | +0.5% | +5.41% | Add |
| 6 | ELV | Elevance Health INC | +0.4% | +35.08% | Add |
| 7 | SNDX | Syndax Pharmaceuticals INC | +0.4% | +13.47% | Add |
| 8 | ASND | Ascendis Pharma A/S | +0.4% | +30.67% | Add |
| 9 | LNTH | Lantheus Holdings INC | +0.3% | -0.51% | Trim |
| 10 | PTCT | Ptc Therapeutics INC | +0.1% | +21.12% | Add |
| 11 | OGN | Organon & Co | 0% | +25.32% | Add |
| 12 | GEHC | GE Healthcare Technology | 0% | +10.51% | Add |
| 13 | BIO | Bio-rad Laboratories-a | -0.1% | — | Unchanged |
| 14 | TNDM | Tandem Diabetes Care INC | -0.1% | — | Unchanged |
| 15 | MDT | Medtronic plc | -0.2% | +4.09% | Add |
| 16 | CAH | Cardinal Health INC | -0.2% | -11.38% | Trim |
| 17 | KURA | Kura Oncology INC | -0.3% | -9.66% | Trim |
| 18 | DXCM | Dexcom INC | -0.3% | -26.27% | Trim |
| 19 | IONS | Ionis Pharmaceuticals INC | -0.3% | -8.38% | Trim |
| 20 | LH | Labcorp Holdings INC | -0.4% | -29.61% | Trim |
| 21 | CRNX | Crinetics Pharmaceuticals In | -0.4% | -18.09% | Trim |
| 22 | INCY | Incyte CORP | -0.5% | -8.35% | Trim |
| 23 | AVTR | Avantor INC | -0.5% | — | Unchanged |
| 24 | BRKR | Bruker CORP | -0.6% | -0.27% | Trim |
| 25 | AMGN | Amgen INC | -0.6% | -22.64% | Trim |
| 26 | EW | Edwards Lifesciences CORP | -0.7% | -37.34% | Trim |
| 27 | CVS | Cvs Health CORP | -0.9% | -23.80% | Trim |
| 28 | CNC | Centene CORP | -1.2% | -37.08% | Trim |
| 29 | MRK | Merck & Co. INC. | -1.3% | -28.41% | Trim |
| 30 | BDX | Becton Dickinson And Co | -2.8% | -37.59% | Trim |
| 31 | GILD | Gilead Sciences INC | -3.2% | -69.82% | Trim |
| 32 | TMO | Thermo Fisher Scientific INC | — | EXIT | Sold out |
| 33 | UNH | Unitedhealth Group INC | — | NEW | New buy |
| 34 | ABT | Abbott Laboratories | — | NEW | New buy |
| 35 | IQV | Iqvia Holdings INC | — | NEW | New buy |
| 36 | QGEN | Qiagen N.V. | — | NEW | New buy |
| 37 | REGN | Regeneron Pharmaceuticals | — | EXIT | Sold out |
| 38 | HCA | Hca Healthcare INC | — | EXIT | Sold out |
| 39 | HUM | Humana INC | — | NEW | New buy |
| 40 | BBIO | Bridgebio Pharma INC | — | NEW | New buy |
| 41 | IOVA | Iovance Biotherapeutics INC | — | NEW | New buy |
| 42 | DNLI | Denali Therapeutics INC | — | NEW | New buy |
| 43 | ARDX | Ardelyx INC | — | NEW | New buy |
| 44 | COGT | Cogent Biosciences INC | — | NEW | New buy |
| 45 | CGON | Cg Oncology INC | — | EXIT | Sold out |
| 46 | CERT | Certara INC | — | EXIT | Sold out |
| 47 | ARWR | Arrowhead Pharmaceuticals In | — | NEW | New buy |
| Period | Filed | Type | EDGAR |
|---|---|---|---|
| 2026-03-31 | 2026-05-07 | 13F-HR | View on EDGAR |
| 2025-12-31 | 2026-02-12 | 13F-HR | View on EDGAR |
| 2025-09-30 | 2025-10-31 | 13F-HR | View on EDGAR |
| 2025-06-30 | 2025-07-31 | 13F-HR | View on EDGAR |
| 2025-03-31 | 2025-05-13 | 13F-HR | View on EDGAR |
| 2024-12-31 | 2025-02-11 | 13F-HR | View on EDGAR |
| 2024-09-30 | 2024-11-13 | 13F-HR | View on EDGAR |
| 2024-06-30 | 2024-08-09 | 13F-HR | View on EDGAR |
| 2024-03-31 | 2024-05-08 | 13F-HR | View on EDGAR |
| 2023-12-31 | 2024-02-05 | 13F-HR | View on EDGAR |
| 2023-09-30 | 2023-11-06 | 13F-HR | View on EDGAR |
| 2023-06-30 | 2023-08-09 | 13F-HR | View on EDGAR |
| 2023-03-31 | 2023-05-12 | 13F-HR | View on EDGAR |
| 2022-12-31 | 2023-02-08 | Amendment | View on EDGAR |
| 2022-12-31 | 2023-02-07 | 13F-HR | View on EDGAR |
| 2022-09-30 | 2022-11-09 | 13F-HR | View on EDGAR |
| 2022-06-30 | 2022-08-05 | 13F-HR | View on EDGAR |
| 2022-03-31 | 2022-05-06 | 13F-HR | View on EDGAR |
| 2021-12-31 | 2022-02-08 | 13F-HR | View on EDGAR |
| 2021-09-30 | 2021-10-29 | 13F-HR | View on EDGAR |
| 2021-06-30 | 2021-08-04 | 13F-HR | View on EDGAR |
| 2021-03-31 | 2021-05-10 | 13F-HR | View on EDGAR |
| 2020-12-31 | 2021-02-10 | 13F-HR | View on EDGAR |
| 2020-09-30 | 2020-11-09 | 13F-HR | View on EDGAR |
| 2020-06-30 | 2020-08-07 | 13F-HR | View on EDGAR |
| 2020-03-31 | 2020-05-11 | 13F-HR | View on EDGAR |
| 2019-12-31 | 2020-02-12 | 13F-HR | View on EDGAR |
| 2019-09-30 | 2019-11-05 | 13F-HR | View on EDGAR |
| 2019-06-30 | 2019-07-31 | 13F-HR | View on EDGAR |
| 2019-03-31 | 2019-05-13 | 13F-HR | View on EDGAR |
| 2018-12-31 | 2019-02-12 | 13F-HR | View on EDGAR |
| 2018-09-30 | 2018-11-15 | Amendment | View on EDGAR |
| 2018-09-30 | 2018-11-08 | 13F-HR | View on EDGAR |
| 2018-06-30 | 2018-08-02 | 13F-HR | View on EDGAR |
| 2018-03-31 | 2018-05-09 | 13F-HR | View on EDGAR |
| 2017-12-31 | 2018-02-12 | 13F-HR | View on EDGAR |
| 2017-09-30 | 2017-11-07 | 13F-HR | View on EDGAR |
| 2017-06-30 | 2017-08-14 | 13F-HR | View on EDGAR |
| 2017-03-31 | 2017-06-09 | Amendment | View on EDGAR |
| 2017-03-31 | 2017-05-12 | 13F-HR | View on EDGAR |
| 2016-12-31 | 2017-02-14 | 13F-HR | View on EDGAR |
| 2016-09-30 | 2017-03-03 | Amendment | View on EDGAR |
| 2016-09-30 | 2016-11-08 | 13F-HR | View on EDGAR |
| 2016-06-30 | 2017-03-03 | Amendment | View on EDGAR |
| 2016-06-30 | 2016-08-11 | 13F-HR | View on EDGAR |
| 2016-03-31 | 2017-03-03 | Amendment | View on EDGAR |
| 2016-03-31 | 2016-05-27 | 13F-HR | View on EDGAR |
| 2015-12-31 | 2016-02-12 | 13F-HR | View on EDGAR |
| 2015-09-30 | 2015-11-16 | 13F-HR | View on EDGAR |
| 2015-06-30 | 2015-08-13 | 13F-HR | View on EDGAR |
| 2015-03-31 | 2015-05-14 | 13F-HR | View on EDGAR |
| 2014-12-31 | 2015-02-17 | 13F-HR | View on EDGAR |
| 2014-09-30 | 2014-11-13 | 13F-HR | View on EDGAR |
| 2014-06-30 | 2014-08-15 | 13F-HR | View on EDGAR |
| 2014-03-31 | 2014-05-09 | 13F-HR | View on EDGAR |
| 2013-12-31 | 2014-02-14 | 13F-HR | View on EDGAR |
| 2013-09-30 | 2013-12-16 | 13F-HR | View on EDGAR |
| 2013-06-30 | 2013-08-14 | 13F-HR | View on EDGAR |
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