Institutional Manager · CIK 0001892134
Frazier Life Sciences Management, L.P.
PALO ALTO, CA · File #028-22504
Latest AUM
$3.72B
Positions
40
Top-10 Concentration
71.0%
Filings
9
Portfolio Value Over Time
2024-03
2024-06
2024-09
2024-12
2025-03
2025-06
2025-09
2025-12
Biggest QoQ Changes
Ranked by conviction flow (share change × current price) so mark-to-market moves don't dominate. Price effect column shows how much of the $ change was just the stock moving.
| Action | Issuer | Ticker / CUSIP | Δ Shares | Flow ($) | Price Effect |
|---|---|---|---|---|---|
| EXITED | VERONA PHARMA PLC | 925050106 | -3,383,950 | -$361.1M | $0 |
| REDUCE | KRYSTAL BIOTECH INC | KRYS | -200,000 | -$49.3M | +$48.2M |
| REDUCE | TARSUS PHARMACEUTICALS INC | TARS | -438,883 | -$35.9M | +$26.2M |
| NEW | RAPT THERAPEUTICS INC | 75382E208 | +983,333 | +$33.3M | $0 |
| NEW | VOR BIOPHARMA INC | VOR | +2,543,939 | +$33.3M | $0 |
| EXITED | ULTRAGENYX PHARMACEUTICAL IN | 90400D108 | -983,715 | -$29.6M | $0 |
| ADD | AVIDITY BIOSCIENCES INC | 05370A108 | +358,125 | +$25.8M | +$17.9M |
| NEW | MANNKIND CORP | MNKD | +4,225,000 | +$24.0M | $0 |
| REDUCE | BRIDGEBIO PHARMA INC | BBIO | -299,900 | -$22.9M | +$94.4M |
| EXITED | MEREO BIOPHARMA GROUP PLC | 589492107 | -9,440,112 | -$19.4M | $0 |
Sector Allocation
Filing History
- 13F HOLDINGS REPORTQ/E Dec 202540 pos · $3.72B
- 13F HOLDINGS REPORTQ/E Sep 202547 pos · $3.34B
- 13F HOLDINGS REPORTQ/E Jun 202549 pos · $2.50B
- 13F HOLDINGS REPORTQ/E Mar 202547 pos · $2.19B
- 13F HOLDINGS REPORTQ/E Dec 202450 pos · $2.41B
- 13F HOLDINGS REPORTQ/E Sep 202453 pos · $2.50B
- 13F HOLDINGS REPORTQ/E Jun 202449 pos · $2.14B
- 13F HOLDINGS REPORTQ/E Mar 202450 pos · $2.37B
- 13F HOLDINGS REPORTQ/E Dec 202352 pos · $1.51B
Top 20 Holdings — Dec 2025
| # | Issuer | Ticker | Shares | Value | % of Portfolio |
|---|---|---|---|---|---|
| 1 | NEWAMSTERDAM PHARMA COMPANY | NAMSW | 16,943,774 | $594.4M | 15.96% |
| 2 | MIRUM PHARMACEUTICALS INC | MIRM | 6,795,121 | $536.7M | 14.42% |
| 3 | ARCUTIS BIOTHERAPEUTICS INC | ARQT | 9,874,511 | $286.8M | 7.70% |
| 4 | BRIDGEBIO PHARMA INC | BBIO | 3,545,557 | $271.2M | 7.28% |
| 5 | MBX BIOSCIENCES INC | MBX | 6,652,013 | $209.8M | 5.64% |
| 6 | PHATHOM PHARMACEUTICALS INC | PHAT | 12,466,489 | $206.8M | 5.55% |
| 7 | MAZE THERAPEUTICS INC | MAZE | 4,567,274 | $189.2M | 5.08% |
| 8 | TREVI THERAPEUTICS INC | TRVI | 10,259,409 | $128.4M | 3.45% |
| 9 | KRYSTAL BIOTECH INC | KRYS | 488,460 | $120.4M | 3.23% |
| 10 | DISC MEDICINE INC | IRON | 1,260,000 | $100.1M | 2.69% |
| 11 | ERASCA INC | ERAS | 22,729,436 | $84.6M | 2.27% |
| 12 | KALVISTA PHARMACEUTICALS INC | KALV | 5,039,867 | $81.4M | 2.19% |
| 13 | PALVELLA THERAPEUTICS INC NE | PVLA | 722,400 | $75.6M | 2.03% |
| 14 | AVIDITY BIOSCIENCES INC | 05370A108 | 983,125 | $70.9M | 1.90% |
| 15 | REVOLUTION MEDICINES INC | RVMDW | 797,455 | $63.5M | 1.71% |
| 16 | DYNE THERAPEUTICS INC | DYN | 3,153,082 | $61.7M | 1.66% |
| 17 | TARSUS PHARMACEUTICALS INC | TARS | 728,644 | $59.7M | 1.60% |
| 18 | SAVARA INC | SVRA | 9,862,301 | $59.5M | 1.60% |
| 19 | CYTOKINETICS INC | CYTK | 934,642 | $59.4M | 1.60% |
| 20 | ABIVAX SA | AAVXF | 378,300 | $51.0M | 1.37% |