Pelican Bay Capital Management, LLC on Royalty Pharma
Thesis
Pelican Bay's Royalty Pharma position has appreciated as investors gained confidence in management's ability to acquire new pharmaceutical royalties on attractive terms. The fund views that capital-allocation capability as central to the company's value creation model. Following the share-price increase, Royalty Pharma became the portfolio's largest holding, showing that the manager continues to retain meaningful exposure rather than selling into the strength. P(1) Pelican Bay Capital Manage…
“investors gained confidence in management’s ability to acquire new royalties on attractive terms”