Royalty Pharma Sub-Manager, LLC

Fundamental diversified ★Signal healthcare specialist (100%) CIK 2081668
Long book
$172.8M
Q1 2026
Positions
4
Top-10 weight
100%
concentration
Last quarter
-12.0%
SPY -4.4%
Turnover
0%
of book per quarter

Strategy in plain words

auto-generated from filings

Royalty 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, ZENAS BIOPHARMA INC, BIOCRYST PHARMACEUTICALS INC, BIOHAVEN LTD.

We rate its filings as signal-bearing: position changes reflect genuine views.

Sector allocation

Healthcare
100%

Long book by quarter

$171.3M
Q4 2025
$172.8M
Q1 2026

What does Royalty Pharma own?

Q1 2026 13F
CompanySectorSharesValue% of bookChange
CYTK CYTOKINETICS INCHealthcare980.4K$64.6M37.4%Held
ZBIO ZENAS BIOPHARMA INCHealthcare2.4M$46.7M27.0%+89.1%
BCRX BIOCRYST PHARMACEUTICALS INCHealthcare3.8M$36.6M21.2%Held
BHVN BIOHAVEN LTDHealthcare2.9M$24.8M14.4%Held

13F filing history

PeriodFormFiledEntriesReported valueFlagsSource
Q1 202613F-HR/ARESTATEMENTAug 21, 20264$172.8M canonicalSEC ↗
Q1 202613F-HRMay 14, 20264$172.8M SEC ↗
Q4 202513F-HR/ARESTATEMENTAug 21, 20264$171.3M canonicalSEC ↗
Q4 202513F-HRApr 1, 20264$171.3M SEC ↗

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