Royalty Pharma Sub-Manager, LLC
Long book
$172.8M
Q1 2026
Positions
4
Top-10 weight
100%
concentration
Last quarter
+37.5%
SPY +14.8%
Turnover
0%
of book per quarter
Strategy in plain words
auto-generated from filingsRoyalty Pharma Sub-Manager, LLC is a diversified fundamental manager, specialised in healthcare (100% of the long book), running a $172.8M US long book across 4 positions.
The portfolio is extremely concentrated — the top 10 positions are almost the whole book. The book barely moves quarter to quarter — a patient, low-turnover holder. Current anchor positions: CYTOKINETICS INC, BICARA THERAPEUTICS INC, BIOCRYST PHARMACEUTICALS INC, BIOHAVEN LTD.
We rate its filings as signal-bearing: position changes reflect genuine views.
Implied long-book return vs S&P 500
methodology: positions priced quarterly, no shorts/options Fund long book S&P 500
Q4 2025
+5.2%
Q1 2026
+37.5%
Sector allocation
Healthcare 100%