Royalty Pharma Sub-Manager, LLC — Q4 2025 13F-HR

← Royalty Pharma Sub-Manager, LLC

Q4 2025 · 13F-HR

Royalty Pharma Sub-Manager, LLCholdings as filed

Filed 2026-04-01 · accession 0002081668-26-000003

$171.3M

Reported value

Positions

2025-12-31

Period end

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The Brief · Royalty Pharma Sub-Manager, LLC · Q4 2025

AI · grounded in 13F

Royalty Pharma Sub-Manager, LLC established a new position in CYTK valued at $62.3M. The fund also initiated new stakes in BCAX for $45.9M and BHVN for $33.2M. Additionally, it added BCRX to its portfolio with a $30M investment. These four positions bring the fund's total AUM to $171.3M.

Holdings as filed

CUSIP	Ticker	Issuer	Value	% port.	Shares	Class	Voting
23282W605	CYTK	CYTOKINETICS, INC	$62.3M	36.4%	980,392	Common	SOLE
055477103	BCAX	ZENAS BIOPHARMA, INC.	$45.9M	26.8%	1,263,150	Common	SOLE
G1110E107	BHVN	BIOHAVEN LTD	$33.2M	19.4%	2,936,507	Common	SOLE
09058V103	BCRX	BIOCRYST PHARMACEUTICALS INC	$30.0M	17.5%	3,846,154	Common	SOLE

Source: SEC EDGAR · raw 13F holdings as filed. The Class column shows the option type when reported (Put/Call) or Common when the issuer's equity is held directly. 13F discloses long positions only.