Data as of Q4 2025 (Dec 31, 2025)

SECTOR GAMMA AS

โ€ขCIK: 1475373โ€ขFiling: Q4 2025

**SECTOR GAMMA AS** manages $439M across a concentrated portfolio of 36 positions, exhibiting a clear focus on the biotechnology and pharmaceutical sectors. The fund's top holdings are heavily weighted toward established biopharma leaders, notably BMY ($40.2M) and MRK ($38.3M). Significant allocations are also maintained in MDT ($25.9M), BDX ($25.7M), and GILD ($21.7M), suggesting a deep conviction in specialized drug development and market leaders. This structure points to a highly selective, sector-specific investment mandate within the life sciences space.

Total AUM
$438.7M
QoQ Performance
+8.8%
Positions
36
Top 10 Concentration
55.7%
Latest Filing
Q4 2025

Top Holdings Allocation

BMY
MRK
MDT
BDX
BMY9.2%
MRK8.7%
MDT5.9%
BDX5.9%
GILD4.9%
INCY4.9%
PFE4.9%
AMGN4.5%

๐Ÿ“ˆ Biggest Buys

BMY
BRISTOL-MYERS SQUIBB CO
+28.3%
9.2% of portfolio
ELV
ELEVANCE HEALTH INC FORMERLY
+238.9%
2.6% of portfolio
REGN
REGENERON PHARMACEUTICALS
NEW
1.3% of portfolio
CRNX
CRINETICS PHARMACEUTICALS IN
NEW
1.2% of portfolio
BDX
BECTON DICKINSON & CO
+21.6%
5.9% of portfolio

๐Ÿ“‰ Biggest Sells

PFE
PFIZER INC
-31.4%
4.9% of portfolio
ISI
IONIS PHARMACEUTICALS INC
-31.7%
3.3% of portfolio
PTCT
PTC THERAPEUTICS INC
-47.6%
1.1% of portfolio
MDT
MEDTRONIC PLC
-11.1%
5.9% of portfolio
OGN
ORGANON & CO
-44.8%
0.5% of portfolio

Sector Breakdown

Other55.8%
Healthcare44.2%

๐Ÿšช Exited Positionssold since Q3 2025

BAX
BAXTER INTL INC
SOLD
$8.7M
VTRS
VIATRIS INC
SOLD
$6.6M
HUM
HUMANA INC
SOLD
$6.2M
ELAN
ELANCO ANIMAL HEALTH INC
SOLD
$6.2M
ICLR
ICON PLC
SOLD
$4.4M
+3 more exited positions

Changes from Q3 2025

NEW3 new positions
โ†‘22 increased
โ†“10 decreased

Historical Filings

Q4 2025Q3 2025Q2 2025Q1 2025Q4 2024Q3 2024Q2 2024Q1 2024Q4 2023