SECTOR GAMMA AS
Filing Date
Global Rank
#2,868
/ 8,605
▲ 35
· as of Mar 2026
Top Industry
Drug Manufacturers - General
36.6%
3Y Alpha vs SPY
-11.1%
Period ended 3 months ago
Filed May 7, 2026 · 2mo
25 quarters · since Mar 2020
Clone Performance
Jul 2023–Jul 2026 · vs SPYHypothetical growth of cloning every reported 13F position and rebalancing on each filing, indexed to the same start.
Cloned portfolio
+32.0%
SPY
+76.5%
Annualised alpha
-11.2%
Max drawdown
−16.1%
Estimate. 13F holdings are quarter-lagged and long-only, so the clone rebalances about 45 days after each period end — when the filing becomes public — and excludes options and short positions. Past performance does not predict future results.
Portfolio Concentration
42 positions · as of Mar 31, 2026 · Δ vs Dec 31, 2025Top Position
11.9%
+2.6 pts
Top 5
36.7%
+2.6 pts
Top 10
54.1%
−1.0 pts
HHI
444
Diversified+8
Portfolio Trend
25 quarters · across all stocks
Sector Breakdown
As of Mar 31, 2026| Sector | % Portfolio | Value |
|---|---|---|
| Healthcare | 100.0% | $423,489,408 |
Last Quarter's Activity
Export CSVAdded To
Positions the filer increased
12 positions
| Ticker | Company | Δ Shares | Shares | Value | Open |
|---|---|---|---|---|---|
| PFE | Pfizer Inc | +231,846 | 1,091,385 | $30,646,090 | |
| BMY | Bristol Myers Squibb Co | +81,946 | 827,901 | $50,212,195 | |
| OGN | Organon & Co. | +75,974 | 375,974 | $2,252,084 | |
| BMRN | Biomarin Pharmaceutical Inc | +41,413 | 239,918 | $13,552,967 | |
| SNDX | Syndax Pharmaceuticals Inc | +33,945 | 286,007 | $6,681,123 | |
| ZBH | Zimmer Biomet Holdings, Inc. | +23,357 | 155,835 | $14,090,600 | |
| PTCT | Ptc Therapeutics, Inc. | +13,077 | 75,000 | $5,109,750 | |
| GEHC | GE HealthCare Technologies Inc. | +12,028 | 126,418 | $8,998,433 | |
| ELV | Elevance Health, Inc. | +11,416 | 43,962 | $12,869,875 | |
| MDT | Medtronic plc | +11,038 | 280,682 | $24,321,095 | |
| ASND | Ascendis Pharma A/S | +5,000 | 21,305 | $4,873,092 | |
| BIIB | Biogen Inc. | +4,621 | 90,096 | $16,517,299 | |
| No positions match the current search. | |||||
Trimmed
Positions the filer reduced
16 positions
| Ticker | Company | Δ Shares | Shares | Value | Open |
|---|---|---|---|---|---|
| GILD | Gilead Sciences, Inc. | −123,167 | 53,247 | $7,421,034 | |
| MRK | Merck & Co., Inc. | −103,311 | 260,340 | $31,316,298 | |
| CNC | Centene Corp | −95,704 | 162,405 | $5,317,139 | |
| BDX | Becton Dickinson & Co | −49,761 | 82,615 | $12,989,556 | |
| KURA | Kura Oncology, Inc. | −44,031 | 411,810 | $3,348,015 | |
| CVS | CVS HEALTH Corp | −42,262 | 135,337 | $9,719,903 | |
| EW | Edwards Lifesciences Corp | −36,000 | 60,402 | $4,836,992 | |
| CRNX | Crinetics Pharmaceuticals, Inc. | −20,805 | 94,195 | $3,421,162 | |
| DXCM | Dexcom Inc | −20,000 | 56,122 | $3,524,461 | |
| INCY | Incyte Corp | −18,273 | 200,510 | $18,872,001 | |
| IONS | Ionis Pharmaceuticals Inc | −15,509 | 169,468 | $12,725,352 | |
| AMGN | Amgen Inc | −13,801 | 47,155 | $16,591,486 | |
| LH | Labcorp Holdings Inc. | −8,000 | 19,019 | $5,074,459 | |
| CAH | Cardinal Health Inc | −7,049 | 54,897 | $11,600,285 | |
| BRKR | Bruker Corp | −687 | 254,010 | $9,174,841 | |
| LNTH | Lantheus Holdings, Inc. | −479 | 93,344 | $7,080,142 | |
| No positions match the current search. | |||||
New Positions
Positions the filer opened this quarter
11 positions
| Ticker | Company | Shares | Value | Open |
|---|---|---|---|---|
| UNH | Unitedhealth Group Inc | 36,435 | $9,858,946 | |
| ABT | Abbott Laboratories | 87,532 | $8,986,910 | |
| IQV | Iqvia Holdings Inc. | 40,230 | $6,860,824 | |
| QGEN | Qiagen N.V. | 162,371 | $6,501,334 | |
| HUM | Humana Inc | 19,202 | $3,329,434 | |
| BBIO | BridgeBio Pharma, Inc. | 44,263 | $3,286,970 | |
| IOVA | Iovance Biotherapeutics, Inc. | 900,000 | $3,159,000 | |
| DNLI | Denali Therapeutics Inc. | 162,710 | $3,124,032 | |
| ARDX | Ardelyx, Inc. | 516,131 | $3,091,624 | |
| COGT | Cogent Biosciences, Inc. | 80,000 | $3,079,200 | |
| ARWR | Arrowhead Pharmaceuticals, Inc. | 30,000 | $1,881,000 | |
| No positions match the current search. | ||||
Sold Out
Positions the filer fully exited
5 positions
| Ticker | Company | Shares | Value | Open |
|---|---|---|---|---|
| TMO | Thermo Fisher Scientific Inc. | 21,688 | $12,567,111 | |
| REGN | Regeneron Pharmaceuticals, Inc. | 7,165 | $5,530,448 | |
| HCA | HCA Healthcare, Inc. | 10,784 | $5,034,618 | |
| CGON | CG Oncology, Inc. | 52,039 | $2,160,659 | |
| CERT | Certara, Inc. | 230,565 | $2,031,277 | |
| No positions match the current search. | ||||
42 positions ·
$423,489,408 total
· as of Mar 31, 2026
| Ticker | Company | Type | Shares | Value (USD) | % of Portfolio | History |
|---|---|---|---|---|---|---|
| BMY |
Bristol Myers Squibb Co
Healthcare
|
Added | 827,901 | $50,212,195 | 11.86% | |
| MRK |
Merck & Co., Inc.
Healthcare
|
Reduced | 260,340 | $31,316,298 | 7.39% | |
| PFE |
Pfizer Inc
Healthcare
|
Added | 1,091,385 | $30,646,090 | 7.24% | |
| MDT |
Medtronic plc
Healthcare
|
Added | 280,682 | $24,321,095 | 5.74% | |
| INCY |
Incyte Corp
Healthcare
|
Reduced | 200,510 | $18,872,001 | 4.46% | |
| AMGN |
Amgen Inc
Healthcare
|
Reduced | 47,155 | $16,591,486 | 3.92% | |
| BIIB |
Biogen Inc.
Healthcare
|
Added | 90,096 | $16,517,299 | 3.90% | |
| ZBH |
Zimmer Biomet Holdings, Inc.
Healthcare
|
Added | 155,835 | $14,090,600 | 3.33% | |
| BMRN |
Biomarin Pharmaceutical Inc
Healthcare
|
Added | 239,918 | $13,552,967 | 3.20% | |
| BDX |
Becton Dickinson & Co
Healthcare
|
Reduced | 82,615 | $12,989,556 | 3.07% | |
| ELV |
Elevance Health, Inc.
Healthcare
|
Added | 43,962 | $12,869,875 | 3.04% | |
| IONS |
Ionis Pharmaceuticals Inc
Healthcare
|
Reduced | 169,468 | $12,725,352 | 3.00% | |
| CAH |
Cardinal Health Inc
Healthcare
|
Reduced | 54,897 | $11,600,285 | 2.74% | |
| UNH |
Unitedhealth Group Inc
Healthcare
|
NEW | 36,435 | $9,858,946 | 2.33% | |
| CVS |
CVS HEALTH Corp
Healthcare
|
Reduced | 135,337 | $9,719,903 | 2.30% | |
| BRKR |
Bruker Corp
Healthcare
|
Reduced | 254,010 | $9,174,841 | 2.17% | |
| GEHC |
GE HealthCare Technologies Inc.
Healthcare
|
Added | 126,418 | $8,998,433 | 2.12% | |
| ABT |
Abbott Laboratories
Healthcare
|
NEW | 87,532 | $8,986,910 | 2.12% | |
| GILD |
Gilead Sciences, Inc.
Healthcare
|
Reduced | 53,247 | $7,421,034 | 1.75% | |
| LNTH |
Lantheus Holdings, Inc.
Healthcare
|
Reduced | 93,344 | $7,080,142 | 1.67% | |
| IQV |
Iqvia Holdings Inc.
Healthcare
|
NEW | 40,230 | $6,860,824 | 1.62% | |
| SNDX |
Syndax Pharmaceuticals Inc
Healthcare
|
Added | 286,007 | $6,681,123 | 1.58% | |
| BIO |
Bio-Rad Laboratories, Inc.
Healthcare
|
Held | 23,750 | $6,620,312 | 1.56% | |
| QGEN |
Qiagen N.V.
Healthcare
|
NEW | 162,371 | $6,501,334 | 1.54% | |
| AVTR |
Avantor, Inc.
Healthcare
|
Held | 695,403 | $5,451,959 | 1.29% | |
| CNC |
Centene Corp
Healthcare
|
Reduced | 162,405 | $5,317,139 | 1.26% | |
| TNDM |
Tandem Diabetes Care Inc
Healthcare
|
Held | 267,091 | $5,120,134 | 1.21% | |
| PTCT |
Ptc Therapeutics, Inc.
Healthcare
|
Added | 75,000 | $5,109,750 | 1.21% | |
| LH |
Labcorp Holdings Inc.
Healthcare
|
Reduced | 19,019 | $5,074,459 | 1.20% | |
| ASND |
Ascendis Pharma A/S
Healthcare
|
Added | 21,305 | $4,873,092 | 1.15% | |
| EW |
Edwards Lifesciences Corp
Healthcare
|
Reduced | 60,402 | $4,836,992 | 1.14% | |
| DXCM |
Dexcom Inc
Healthcare
|
Reduced | 56,122 | $3,524,461 | 0.83% | |
| CRNX |
Crinetics Pharmaceuticals, Inc.
Healthcare
|
Reduced | 94,195 | $3,421,162 | 0.81% | |
| KURA |
Kura Oncology, Inc.
Healthcare
|
Reduced | 411,810 | $3,348,015 | 0.79% | |
| HUM |
Humana Inc
Healthcare
|
NEW | 19,202 | $3,329,434 | 0.79% | |
| BBIO |
BridgeBio Pharma, Inc.
Healthcare
|
NEW | 44,263 | $3,286,970 | 0.78% | |
| IOVA |
Iovance Biotherapeutics, Inc.
Healthcare
|
NEW | 900,000 | $3,159,000 | 0.75% | |
| DNLI |
Denali Therapeutics Inc.
Healthcare
|
NEW | 162,710 | $3,124,032 | 0.74% | |
| ARDX |
Ardelyx, Inc.
Healthcare
|
NEW | 516,131 | $3,091,624 | 0.73% | |
| COGT |
Cogent Biosciences, Inc.
Healthcare
|
NEW | 80,000 | $3,079,200 | 0.73% | |
| OGN |
Organon & Co.
Healthcare
|
Added | 375,974 | $2,252,084 | 0.53% | |
| ARWR |
Arrowhead Pharmaceuticals, Inc.
Healthcare
|
NEW | 30,000 | $1,881,000 | 0.44% |