Frazier Life Sciences Management, L.P. — 13F Holdings & Portfolio
CIK 1892134 · latest 13F-HR filed 2026-05-15
Frazier Life Sciences Management, L.P. manages $3.89B in 13F-reported U.S. long-equity assets across 38 reported positions as of its 2026-03-31 13F-HR filing. Its largest disclosed positions are MIRM (18.25%), NAMS (13.96%), ERAS (10.27%). Quarter over quarter (versus its 2025-12-31 filing) the fund opened 4 new positions, exited 6, added to 13, and trimmed 18.
AUM is the long-equity portion reported on Form 13F-HR. Excludes short positions, cash, foreign holdings, and non-13F assets. For informational purposes only — not investment advice.
$3.89B
Long-equity book
38
Distinct positions
2026-03-31
Filed 2026-05-15
+4 / −6 / ↑13 / ↓18
vs 2025-12-31
| Name | Title / Status | Ownership | Type |
|---|
Top Adds (vs prior quarter)
- ERASCA INC$314.7M +372.2%
- MIRUM PHARMACEUTICALS INC$172.7M +32.2%
- PALVELLA THERAPEUTICS INC NE$34.4M +45.5%
- KALVISTA PHARMACEUTICALS INC$18.5M +22.7%
- CYTOKINETICS INC$17.1M +28.7%
Top Trims
- PHATHOM PHARMACEUTICALS INC-$68.3M -33.0%
- ARCUTIS BIOTHERAPEUTICS INC-$54.1M -18.9%
- MAZE THERAPEUTICS INC-$52.9M -28.0%
- NEWAMSTERDAM PHARMA COMPANY-$52.0M -8.8%
- LEXEO THERAPEUTICS INC-$18.5M -42.2%
New Positions
- BIOCRYST PHARMACEUTICALS INC$38.2M
- ACLARIS THERAPEUTICS INC$18.5M
- MONTE ROSA THERAPEUTICS INC$16.4M
- XILIO THERAPEUTICS INC$3.6M
Exited Positions
- AVIDITY BIOSCIENCES INC$70.9M
- ABIVAX SA$51.0M
- RAPT THERAPEUTICS INC$33.3M
- TRAVERE THERAPEUTICS INC$9.2M
- DESIGN THERAPEUTICS INC$4.9M
Rows tagged Call or Put are options positions, not stock. Per SEC Form 13F-HR, Value shows the notional value of the underlying (shares covered × underlying price), not the option premium. Shares is the number of underlying shares covered (divide by 100 for contract count).
| # | Issuer | Symbol | CUSIP | Value | Weight | Shares | Type |
|---|---|---|---|---|---|---|---|
| 1 | MIRUM PHARMACEUTICALS INC | MIRM | 604749101 | $709.4M | 18.25% | 7,679,684 | SH |
| 2 | NEWAMSTERDAM PHARMA COMPANY | NAMS | N62509109 | $542.4M | 13.96% | 16,943,774 | SH |
| 3 | ERASCA INC | ERAS | 29479A108 | $399.2M | 10.27% | 24,675,188 | SH |
| 4 | BRIDGEBIO PHARMA INC | BBIO | 10806X102 | $256.1M | 6.59% | 3,448,139 | SH |
| 5 | ARCUTIS BIOTHERAPEUTICS INC | ARQT | 03969K108 | $232.6M | 5.99% | 9,874,511 | SH |
| 6 | MBX BIOSCIENCES INC | MBX | 55287L101 | $198.6M | 5.11% | 6,652,013 | SH |
| 7 | PHATHOM PHARMACEUTICALS INC | PHAT | 71722W107 | $138.5M | 3.56% | 12,466,489 | SH |
| 8 | MAZE THERAPEUTICS INC | MAZE | 578784100 | $136.3M | 3.51% | 4,567,274 | SH |
| 9 | KRYSTAL BIOTECH INC | KRYS | 501147102 | $124.3M | 3.20% | 481,307 | SH |
| 10 | TREVI THERAPEUTICS INC | TRVI | 89532M101 | $118.6M | 3.05% | 9,939,547 | SH |
| 11 | PALVELLA THERAPEUTICS INC NE | PVLA | 697947109 | $110.0M | 2.83% | 882,400 | SH |
| 12 | KALVISTA PHARMACEUTICALS INC | KALV | 483497103 | $99.9M | 2.57% | 4,961,108 | SH |
| 13 | DISC MEDICINE INC | IRON | 254604101 | $86.6M | 2.23% | 1,354,852 | SH |
| 14 | CYTOKINETICS INC | CYTK | 23282W605 | $76.4M | 1.97% | 1,159,879 | SH |
| 15 | REVOLUTION MEDICINES INC | RVMD | 76155X100 | $65.7M | 1.69% | 675,686 | SH |
| 16 | DYNE THERAPEUTICS INC | DYN | 26818M108 | $57.2M | 1.47% | 3,153,082 | SH |
| 17 | SAVARA INC | SVRA | 805111101 | $53.1M | 1.37% | 9,720,852 | SH |
| 18 | TARSUS PHARMACEUTICALS INC | TARS | 87650L103 | $51.1M | 1.32% | 728,644 | SH |
| 19 | VOR BIOPHARMA INC | VOR | 929033207 | $45.4M | 1.17% | 2,543,939 | SH |
| 20 | AGIOS PHARMACEUTICALS INC | AGIO | 00847X104 | $42.5M | 1.09% | 1,256,080 | SH |
| 21 | BIOCRYST PHARMACEUTICALS INC | BCRX | 09058V103 | $38.2M | 0.98% | 4,009,240 | SH |
| 22 | ZAI LAB LTD | ZLAB | 98887Q104 | $35.8M | 0.92% | 1,902,320 | SH |
| 23 | AURA BIOSCIENCES INC | AURA | 05153U107 | $34.1M | 0.88% | 5,100,000 | SH |
| 24 | ACADIA PHARMACEUTICALS INC | ACAD | 004225108 | $32.0M | 0.82% | 1,438,198 | SH |
| 25 | ASCENDIS PHARMA A/S | ASND | 04351P101 | $30.5M | 0.78% | 133,333 | SH |
| 26 | LEXEO THERAPEUTICS INC | LXEO | 52886X107 | $25.4M | 0.65% | 4,424,725 | SH |
| 27 | ALKERMES PLC | ALKS | G01767105 | $24.8M | 0.64% | 700,647 | SH |
| 28 | ACLARIS THERAPEUTICS INC | ACRS | 00461U105 | $18.5M | 0.48% | 4,925,374 | SH |
| 29 | MONTE ROSA THERAPEUTICS INC | GLUE | 61225M102 | $16.4M | 0.42% | 1,000,000 | SH |
| 30 | IMMUNOCORE HLDGS PLC | IMCR | 45258D105 | $14.6M | 0.38% | 484,782 | SH |
| 31 | MANNKIND CORP | MNKD | 56400P706 | $14.5M | 0.37% | 5,900,000 | SH |
| 32 | VALNEVA SE | VALN | 92025Y103 | $14.3M | 0.37% | 2,291,666 | SH |
| 33 | EVOLUS INC | EOLS | 30052C107 | $10.8M | 0.28% | 2,630,665 | SH |
| 34 | NEWAMSTERDAM PHARMA COMPANY | NAMSW | N62509117 | $10.0M | 0.26% | 500,333 | SH |
| 35 | ALLOGENE THERAPEUTICS INC | ALLO | 019770106 | $9.3M | 0.24% | 3,796,668 | SH |
| 36 | AUTOLUS THERAPEUTICS LTD | AUTL | 05280R100 | $6.1M | 0.16% | 4,447,910 | SH |
| 37 | IBIO INC | IBIO | 451033708 | $3.7M | 0.10% | 1,953,467 | SH |
| 38 | XILIO THERAPEUTICS INC | XLO | 98422T209 | $3.6M | 0.09% | 422,505 | SH |
| Period | Filed | AUM | Holdings | Accession |
|---|---|---|---|---|
| 2026-03-31 | 2026-05-15 | $3.89B | 38 | 0001892134-26-000002 |
| 2025-12-31 | 2026-02-13 | $3.72B | 40 | 0001892134-26-000001 |
| 2025-09-30 | 2025-11-14 | $3.34B | 47 | 0001892134-25-000012 |