SECTOR GAMMA AS Diversified Active

CIK: 0001475373 · Show all filings

Period: Q4 2025 (← Previous)

Filing Date: Feb 12, 2026

Total Value ($000): $438,714 (100.0% shares, 0.0% debt)

Holdings (36)

New Positions (3)

REGN REGENERON PHARMACEUTICALS 1.3%

Value ($000) $5,530 Shares 7,165 Est. Cost $678.68 Unrealized 0.0%

CRNX CRINETICS PHARMACEUTICALS IN 1.2%

Value ($000) $5,353 Shares 115,000 Est. Cost $44.52 Unrealized 0.0%

CGON CG ONCOLOGY INC 0.5%

Value ($000) $2,161 Shares 52,039 Est. Cost $41.38 Unrealized 0.0%

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
REGN	REGENERON PHARMACEUTICALS	7,165	$5,530	1.3%	$678.68	0.0%	COM	75886F107
CRNX	CRINETICS PHARMACEUTICALS IN	115,000	$5,353	1.2%	$44.52	0.0%	COM	22663K107
CGON	CG ONCOLOGY INC	52,039	$2,161	0.5%	$41.38	0.0%	COM	156944100

Increased Positions (22)

BMY BRISTOL-MYERS SQUIBB CO 9.2%

Value ($000) $40,237 (+53.5%) Shares 745,955 (+28.3%) Est. Cost $48.48 Unrealized -2.0%

MRK MERCK & CO INC 8.7%

Value ($000) $38,278 (+41.4%) Shares 363,651 (+12.8%) Est. Cost $80.39 Unrealized +16.0%

ELV ELEVANCE HEALTH INC FORMERLY 2.6%

Value ($000) $11,409 (+267.7%) Shares 32,546 (+238.9%) Est. Cost $351.09 Unrealized -4.1%

BDX BECTON DICKINSON & CO 5.9%

Value ($000) $25,690 (+26.1%) Shares 132,376 (+21.6%) Est. Cost $211.58 Unrealized -10.4%

GILD GILEAD SCIENCES INC 4.9%

Value ($000) $21,653 (+32.5%) Shares 176,414 (+19.8%) Est. Cost $75.45 Unrealized +60.2%

BIIB BIOGEN INC 3.4%

Value ($000) $15,043 (+42.3%) Shares 85,475 (+13.2%) Est. Cost $164.21 Unrealized -0.5%

INCY INCYTE CORP 4.9%

Value ($000) $21,609 (+24.2%) Shares 218,783 (+6.7%) Est. Cost $71.18 Unrealized +35.9%

BRKR BRUKER CORP 2.7%

Value ($000) $11,999 (+47.2%) Shares 254,697 (+1.5%) Est. Cost $51.49 Unrealized -18.0%

TMO THERMO FISHER SCIENTIFIC INC 2.9%

Value ($000) $12,567 (+40.5%) Shares 21,688 (+17.6%) Est. Cost $439.21 Unrealized +28.7%

CAH CARDINAL HEALTH INC 2.9%

Value ($000) $12,730 (+36.2%) Shares 61,946 (+4.0%) Est. Cost $64.47 Unrealized +191.2%

CNC CENTENE CORP DEL 2.4%

Value ($000) $10,621 (+39.6%) Shares 258,109 (+21.1%) Est. Cost $53.34 Unrealized -29.8%

LNTH LANTHEUS HLDGS INC 1.4%

Value ($000) $6,244 (+89.0%) Shares 93,823 (+45.7%) Est. Cost $74.91 Unrealized -22.3%

EW EDWARDS LIFESCIENCES CORP 1.9%

Value ($000) $8,218 (+44.8%) Shares 96,402 (+32.1%) Est. Cost $78.07 Unrealized +5.1%

CVS CVS HEALTH CORP 3.2%

Value ($000) $14,094 (+19.7%) Shares 177,599 (+13.7%) Est. Cost $65.57 Unrealized +20.0%

BMRN BIOMARIN PHARMACEUTICAL INC 2.7%

Value ($000) $11,797 (+23.9%) Shares 198,505 (+12.9%) Est. Cost $72.29 Unrealized -24.7%

SNDX SYNDAX PHARMACEUTICALS INC 1.2%

Value ($000) $5,296 (+63.3%) Shares 252,062 (+19.6%) Est. Cost $13.80 Unrealized +26.4%

AVTR AVANTOR INC 1.8%

Value ($000) $7,969 (+33.8%) Shares 695,403 (+45.8%) Est. Cost $13.13 Unrealized -6.3%

GEHC GE HEALTHCARE TECHNOLOGIES I 2.1%

Value ($000) $9,382 (+12.2%) Shares 114,390 (+2.7%) Est. Cost $76.25 Unrealized +2.2%

KURA KURA ONCOLOGY INC 1.1%

Value ($000) $4,736 (+22.1%) Shares 455,841 (+4.0%) Est. Cost $7.26 Unrealized +44.6%

BIO BIO RAD LABS INC 1.6%

Value ($000) $7,196 (+12.4%) Shares 23,750 (+4.0%) Est. Cost $294.39 Unrealized +6.0%

ZBH ZIMMER BIOMET HOLDINGS INC 2.7%

Value ($000) $11,912 (+6.6%) Shares 132,478 (+16.7%) Est. Cost $107.10 Unrealized -11.7%

LH LABCORP HOLDINGS INC 1.5%

Value ($000) $6,779 (-9.1%) Shares 27,019 (+4.0%) Est. Cost $248.69 Unrealized +6.6%

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
BMY	BRISTOL-MYERS SQUIBB CO	745,955 (+28.3%)	$40,237 (+53.5%)	9.2%	$48.48	-2.0%	COM	110122108
MRK	MERCK & CO INC	363,651 (+12.8%)	$38,278 (+41.4%)	8.7%	$80.39	+16.0%	COM	58933Y105
ELV	ELEVANCE HEALTH INC FORMERLY	32,546 (+238.9%)	$11,409 (+267.7%)	2.6%	$351.09	-4.1%	COM	036752103
BDX	BECTON DICKINSON & CO	132,376 (+21.6%)	$25,690 (+26.1%)	5.9%	$211.58	-10.4%	COM	075887109
GILD	GILEAD SCIENCES INC	176,414 (+19.8%)	$21,653 (+32.5%)	4.9%	$75.45	+60.2%	COM	375558103
BIIB	BIOGEN INC	85,475 (+13.2%)	$15,043 (+42.3%)	3.4%	$164.21	-0.5%	COM	09062X103
INCY	INCYTE CORP	218,783 (+6.7%)	$21,609 (+24.2%)	4.9%	$71.18	+35.9%	COM	45337C102
BRKR	BRUKER CORP	254,697 (+1.5%)	$11,999 (+47.2%)	2.7%	$51.49	-18.0%	COM	116794108
TMO	THERMO FISHER SCIENTIFIC INC	21,688 (+17.6%)	$12,567 (+40.5%)	2.9%	$439.21	+28.7%	COM	883556102
CAH	CARDINAL HEALTH INC	61,946 (+4.0%)	$12,730 (+36.2%)	2.9%	$64.47	+191.2%	COM	14149Y108
CNC	CENTENE CORP DEL	258,109 (+21.1%)	$10,621 (+39.6%)	2.4%	$53.34	-29.8%	COM	15135B101
LNTH	LANTHEUS HLDGS INC	93,823 (+45.7%)	$6,244 (+89.0%)	1.4%	$74.91	-22.3%	COM	516544103
EW	EDWARDS LIFESCIENCES CORP	96,402 (+32.1%)	$8,218 (+44.8%)	1.9%	$78.07	+5.1%	COM	28176E108
CVS	CVS HEALTH CORP	177,599 (+13.7%)	$14,094 (+19.7%)	3.2%	$65.57	+20.0%	COM	126650100
BMRN	BIOMARIN PHARMACEUTICAL INC	198,505 (+12.9%)	$11,797 (+23.9%)	2.7%	$72.29	-24.7%	COM	09061G101
SNDX	SYNDAX PHARMACEUTICALS INC	252,062 (+19.6%)	$5,296 (+63.3%)	1.2%	$13.80	+26.4%	COM	87164F105
AVTR	AVANTOR INC	695,403 (+45.8%)	$7,969 (+33.8%)	1.8%	$13.13	-6.3%	COM	05352A100
GEHC	GE HEALTHCARE TECHNOLOGIES I	114,390 (+2.7%)	$9,382 (+12.2%)	2.1%	$76.25	+2.2%	COMMON STOCK	36266G107
KURA	KURA ONCOLOGY INC	455,841 (+4.0%)	$4,736 (+22.1%)	1.1%	$7.26	+44.6%	COM	50127T109
BIO	BIO RAD LABS INC	23,750 (+4.0%)	$7,196 (+12.4%)	1.6%	$294.39	+6.0%	CL A	090572207
ZBH	ZIMMER BIOMET HOLDINGS INC	132,478 (+16.7%)	$11,912 (+6.6%)	2.7%	$107.10	-11.7%	COM	98956P102
LH	LABCORP HOLDINGS INC	27,019 (+4.0%)	$6,779 (-9.1%)	1.5%	$248.69	+6.6%	COM SHS	504922105

Exited Positions (8)

BAX BAXTER INTL INC 2.0%

Value ($000) $8,688 Shares 381,551 Est. Cost $32.82 Unrealized -39.1%

VTRS VIATRIS INC 1.5%

Value ($000) $6,622 Shares 668,851 Est. Cost $9.56 Unrealized +12.1%

HUM HUMANA INC 1.4%

Value ($000) $6,229 Shares 23,942 Est. Cost $305.10 Unrealized -14.3%

ELAN ELANCO ANIMAL HEALTH INC 1.4%

Value ($000) $6,188 Shares 307,271 Est. Cost $12.56 Unrealized +73.3%

ICLR ICON PLC 1.0%

Value ($000) $4,369 Shares 24,967 Est. Cost $167.36 Unrealized +6.4%

SOLV SOLVENTUM CORP 1.0%

Value ($000) $4,326 Shares 59,259 Est. Cost $73.56 Unrealized +4.1%

BNTX BIONTECH SE 0.6%

Value ($000) $2,735 Shares 27,732 Est. Cost $116.32 Unrealized —

ACLX ARCELLX INC 0.6%

Value ($000) $2,628 Shares 32,009 Est. Cost $68.67 Unrealized +16.2%

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
BAX	BAXTER INTL INC	381,551	$8,688	2.0%	$32.82	-39.1%	—	071813109
VTRS	VIATRIS INC	668,851	$6,622	1.5%	$9.56	+12.1%	—	92556V106
HUM	HUMANA INC	23,942	$6,229	1.4%	$305.10	-14.3%	—	444859102
ELAN	ELANCO ANIMAL HEALTH INC	307,271	$6,188	1.4%	$12.56	+73.3%	—	28414H103
ICLR	ICON PLC	24,967	$4,369	1.0%	$167.36	+6.4%	—	G4705A100
SOLV	SOLVENTUM CORP	59,259	$4,326	1.0%	$73.56	+4.1%	—	83444M101
BNTX	BIONTECH SE	27,732	$2,735	0.6%	$116.32	—	—	09075V102
ACLX	ARCELLX INC	32,009	$2,628	0.6%	$68.67	+16.2%	—	03940C100

Decreased Positions (6)

PFE PFIZER INC 4.9%

Value ($000) $21,403 (-32.9%) Shares 859,539 (-31.4%) Est. Cost $25.42 Unrealized -1.5%

OGN ORGANON & CO 0.5%

Value ($000) $2,151 (-63.0%) Shares 300,000 (-44.8%) Est. Cost $9.78 Unrealized -19.3%

IONS IONIS PHARMACEUTICALS INC 3.3%

Value ($000) $14,634 (-17.4%) Shares 184,977 (-31.7%) Est. Cost $46.09 Unrealized +63.4%

MDT MEDTRONIC PLC 5.9%

Value ($000) $25,902 (-10.4%) Shares 269,644 (-11.1%) Est. Cost $83.75 Unrealized +16.0%

PTCT PTC THERAPEUTICS INC 1.1%

Value ($000) $4,704 (-35.1%) Shares 61,923 (-47.6%) Est. Cost $46.46 Unrealized +56.4%

ASND ASCENDIS PHARMA A/S 0.8%

Value ($000) $3,477 (-28.1%) Shares 16,305 (-33.0%) Est. Cost $168.80 Unrealized —

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
PFE	PFIZER INC	859,539 (-31.4%)	$21,403 (-32.9%)	4.9%	$25.42	-1.5%	COM	717081103
OGN	ORGANON & CO	300,000 (-44.8%)	$2,151 (-63.0%)	0.5%	$9.78	-19.3%	COMMON STOCK	68622V106
IONS	IONIS PHARMACEUTICALS INC	184,977 (-31.7%)	$14,634 (-17.4%)	3.3%	$46.09	+63.4%	COM	462222100
MDT	MEDTRONIC PLC	269,644 (-11.1%)	$25,902 (-10.4%)	5.9%	$83.75	+16.0%	SHS	G5960L103
PTCT	PTC THERAPEUTICS INC	61,923 (-47.6%)	$4,704 (-35.1%)	1.1%	$46.46	+56.4%	COM	69366J200
ASND	ASCENDIS PHARMA A/S	16,305 (-33.0%)	$3,477 (-28.1%)	0.8%	$168.80	—	SPONSORED ADR	04351P101

Unchanged Positions (5)

AMGN AMGEN INC 4.5%

Value ($000) $19,952 Shares 60,956 Est. Cost $285.08 Unrealized +10.8%

TNDM TANDEM DIABETES CARE INC 1.3%

Value ($000) $5,871 Shares 267,091 Est. Cost $24.77 Unrealized -27.1%

CERT CERTARA INC 0.5%

Value ($000) $2,031 Shares 230,565 Est. Cost $10.94 Unrealized -5.8%

HCA HCA HEALTHCARE INC 1.1%

Value ($000) $5,035 Shares 10,784 Est. Cost $365.96 Unrealized +26.7%

DXCM DEXCOM INC 1.2%

Value ($000) $5,052 Shares 76,122 Est. Cost $78.65 Unrealized -17.8%

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
AMGN	AMGEN INC	60,956	$19,952	4.5%	$285.08	+10.8%	COM	031162100
TNDM	TANDEM DIABETES CARE INC	267,091	$5,871	1.3%	$24.77	-27.1%	COM NEW	875372203
CERT	CERTARA INC	230,565	$2,031	0.5%	$10.94	-5.8%	COM	15687V109
HCA	HCA HEALTHCARE INC	10,784	$5,035	1.1%	$365.96	+26.7%	COM	40412C101
DXCM	DEXCOM INC	76,122	$5,052	1.2%	$78.65	-17.8%	COM	252131107