SECTORAL ASSET MANAGEMENT INC

Filed: 11/14/2025ACC: 0001104659-25-112082

📋 What this filing means

SECTORAL ASSET MANAGEMENT INC filed this quarterly 13F‑HR report disclosing 82 equity positions with a total reported market value of $162.01M. This filing provides a transparent view of the manager's long equity holdings as of the quarter end.

Positions

$162.01M

Total AUM (reported)

8.11M

Total Shares

Allocation by class

COM$106.40M65.7%

SP ADR$15.43M9.5%

CL A$11.14M6.9%

COM NEW$9.92M6.1%

SHS$7.33M4.5%

COMMON STOCK$5.40M3.3%

S&P BIOTECH$3.41M2.1%

Portfolio Concentration

Top 3$22.78M14.1%

4–10$33.97M21.0%

11–25$47.68M29.4%

Rest$57.60M35.6%

Top 3 weight

14.1%

Top 10 weight

35.0%

Voting Authority Distribution

Total shares with voting rights: 8.11M

Sole

Full voting authority

3.35M

% of voting shares41.3%

Shared

Joint voting authority

0.00

% of voting shares0.0%

None

No voting authority

4.77M

% of voting shares58.7%

Investment Discretion (by position count)

Sole82

Shared0

Other0

Dominant voting typeNone · 58.7% of voting shares

Institutional Holdings82

Rows:

CONTINEUM THERAPEUTICS

SOLE

CL A

Shares800.79K

TypeSH

Market value$9.41M

5.81%

Sole

800.79K

Shared

0.00

None

0.00

ELI LILLY & CO

SOLE

COM

Shares9.38K

TypeSH

Market value$7.15M

4.42%

Sole

9.38K

Shared

0.00

None

0.00

STRUCTURE THERAPEUTICS

SOLE

SP ADR

Shares221.87K

TypeSH

Market value$6.21M

3.83%

Sole

38.60K

Shared

0.00

None

183.27K

ANAPTYSBIO INC

SOLE

COM

Shares194.49K

TypeSH

Market value$5.96M

3.68%

Sole

27.20K

Shared

0.00

None

167.28K

SHOULDER INNOVATIONS

SOLE

COMMON STOCK

Shares430.28K

TypeSH

Market value$5.40M

3.33%

Sole

430.28K

Shared

0.00

None

0.00

ARCUS BIOSCIENCES

SOLE

COM

Shares368.07K

TypeSH

Market value$5.01M

3.09%

Sole

67.60K

Shared

0.00

None

300.47K

IMMATICS NV

SOLE

SHS

Shares560.49K

TypeSH

Market value$4.78M

2.95%

Sole

0.00

Shared

0.00

None

560.49K

UNITEDHEALTH GRP INC

SOLE

COM

Shares13.54K

TypeSH

Market value$4.68M

2.89%

Sole

13.54K

Shared

0.00

None

0.00

BICARA THERAPEUTICS

SOLE

COM

Shares266.50K

TypeSH

Market value$4.21M

2.60%

Sole

0.00

Shared

0.00

None

266.50K

ORIC PHARMACEUTICALS

SOLE

COM

Shares328.65K

TypeSH

Market value$3.94M

2.43%

Sole

19.10K

Shared

0.00

None

309.56K

SOLID BIOSCIENCES

SOLE

COM NEW

Shares633.05K

TypeSH

Market value$3.91M

2.41%

Sole

0.00

Shared

0.00

None

633.05K

KURA ONCOLOGY

SOLE

COM

Shares395.87K

TypeSH

Market value$3.50M

2.16%

Sole

0.00

Shared

0.00

None

395.87K

VENTYX BIOSCIENCES

SOLE

COM

Shares1.11M

TypeSH

Market value$3.44M

2.13%

Sole

0.00

Shared

0.00

None

1.11M

ABBVIE INC

SOLE

COM

Shares14.80K

TypeSH

Market value$3.43M

2.12%

Sole

14.80K

Shared

0.00

None

0.00

MBX BIOSCIENCES INC

SOLE

COM

Shares194.90K

TypeSH

Market value$3.41M

2.11%

Sole

30.30K

Shared

0.00

None

164.60K

SPDR SERIES TRUST

SOLE

S&P BIOTECH

Shares34K

TypeSH

Market value$3.41M

2.10%

Sole

0.00

Shared

0.00

None

34K

ZENAS BIOPHARMA

SOLE

COM

Shares152.03K

TypeSH

Market value$3.37M

2.08%

Sole

0.00

Shared

0.00

None

152.03K

PALVELLA THERAPEUTIC

SOLE

COM

Shares49.12K

TypeSH

Market value$3.08M

1.90%

Sole

0.00

Shared

0.00

None

49.12K

TECTONIC THERAPEUTIC

SOLE

COM

Shares192.77K

TypeSH

Market value$3.02M

1.87%

Sole

0.00

Shared

0.00

None

192.77K

VERTEX PHARMA

SOLE

COM

Shares7.71K

TypeSH

Market value$3.02M

1.86%

Sole

6.63K

Shared

0.00

None

1.08K

AMGEN INC

SOLE

COM

Shares10.34K

TypeSH

Market value$2.92M

1.80%

Sole

8.78K

Shared

0.00

None

1.56K

INSTIL BIO INC

SOLE

COM NEW

Shares161.38K

TypeSH

Market value$2.88M

1.78%

Sole

20.85K

Shared

0.00

None

140.53K

ARGENX SE SPN ADR

SOLE

SP ADR

Shares3.89K

TypeSH

Market value$2.87M

1.77%

Sole

3.48K

Shared

0.00

None

414.00

JOHNSON & JOHNSON

SOLE

COM

Shares15.30K

TypeSH

Market value$2.84M

1.75%

Sole

15.30K

Shared

0.00

None

0.00

INTUITIVE SURGIC INC

SOLE

COM NEW

Shares5.75K

TypeSH

Market value$2.57M

1.59%

Sole

5.75K

Shared

0.00

None

0.00

Issuer	Class	Shares	Type	Value / Portfolio %	Voting — Sole	None
CONTINEUM THERAPEUTICSSOLE	CL A	800.79K	SH	$9.41M 5.81%	800.79K	0.00
ELI LILLY & COSOLE	COM	9.38K	SH	$7.15M 4.42%	9.38K	0.00
STRUCTURE THERAPEUTICSSOLE	SP ADR	221.87K	SH	$6.21M 3.83%	38.60K	183.27K
ANAPTYSBIO INCSOLE	COM	194.49K	SH	$5.96M 3.68%	27.20K	167.28K
SHOULDER INNOVATIONSSOLE	COMMON STOCK	430.28K	SH	$5.40M 3.33%	430.28K	0.00
ARCUS BIOSCIENCESSOLE	COM	368.07K	SH	$5.01M 3.09%	67.60K	300.47K
IMMATICS NVSOLE	SHS	560.49K	SH	$4.78M 2.95%	0.00	560.49K
UNITEDHEALTH GRP INCSOLE	COM	13.54K	SH	$4.68M 2.89%	13.54K	0.00
BICARA THERAPEUTICSSOLE	COM	266.50K	SH	$4.21M 2.60%	0.00	266.50K
ORIC PHARMACEUTICALSSOLE	COM	328.65K	SH	$3.94M 2.43%	19.10K	309.56K
SOLID BIOSCIENCESSOLE	COM NEW	633.05K	SH	$3.91M 2.41%	0.00	633.05K
KURA ONCOLOGYSOLE	COM	395.87K	SH	$3.50M 2.16%	0.00	395.87K
VENTYX BIOSCIENCESSOLE	COM	1.11M	SH	$3.44M 2.13%	0.00	1.11M
ABBVIE INCSOLE	COM	14.80K	SH	$3.43M 2.12%	14.80K	0.00
MBX BIOSCIENCES INCSOLE	COM	194.90K	SH	$3.41M 2.11%	30.30K	164.60K
SPDR SERIES TRUSTSOLE	S&P BIOTECH	34K	SH	$3.41M 2.10%	0.00	34K
ZENAS BIOPHARMASOLE	COM	152.03K	SH	$3.37M 2.08%	0.00	152.03K
PALVELLA THERAPEUTICSOLE	COM	49.12K	SH	$3.08M 1.90%	0.00	49.12K
TECTONIC THERAPEUTICSOLE	COM	192.77K	SH	$3.02M 1.87%	0.00	192.77K
VERTEX PHARMASOLE	COM	7.71K	SH	$3.02M 1.86%	6.63K	1.08K
AMGEN INCSOLE	COM	10.34K	SH	$2.92M 1.80%	8.78K	1.56K
INSTIL BIO INCSOLE	COM NEW	161.38K	SH	$2.88M 1.78%	20.85K	140.53K
ARGENX SE SPN ADRSOLE	SP ADR	3.89K	SH	$2.87M 1.77%	3.48K	414.00
JOHNSON & JOHNSONSOLE	COM	15.30K	SH	$2.84M 1.75%	15.30K	0.00
INTUITIVE SURGIC INCSOLE	COM NEW	5.75K	SH	$2.57M 1.59%	5.75K	0.00

Page 1 of 4