# Frazier Life Sciences Management, L.P.

> Institutional holdings reported to the SEC as of Q2 2026 on Form 13F. CIK 1892134. Source: https://holderbook.com/funds/1892134-frazier-life-sciences-management-l-p/

- Reported value: $4.6B
- Positions: 41
- Weight of the ten largest: 73.6%
- Filed: 2026-08-14

A 13F reports long US equity positions only. Short positions, bonds, foreign listings, private holdings and cash are not visible, so this is not the manager's whole book.

## Holdings

| Security | Ticker | Value | Shares | Weight | Quarters held |
|---|---|---|---|---|---|
| MIRUM PHARMACEUTICALS INC | [MIRM](https://holderbook.com/stocks/MIRM/) | $899.1M | 7,679,684 | 19.6% | 18 |
| NEWAMSTERDAM PHARMA COMPANY | [NAMS](https://holderbook.com/stocks/NAMS/) | $613.0M | 18,088,902 | 13.3% | 15 |
| ERASCA INC | [ERAS](https://holderbook.com/stocks/ERAS/) | $457.5M | 24,975,188 | 10.0% | 9 |
| MBX BIOSCIENCES INC | [MBX](https://holderbook.com/stocks/MBX/) | $367.2M | 6,652,013 | 8.0% | 8 |
| ARCUTIS BIOTHERAPEUTICS INC | [ARQT](https://holderbook.com/stocks/ARQT/) | $258.9M | 9,874,511 | 5.6% | 18 |
| TREVI THERAPEUTICS INC | [TRVI](https://holderbook.com/stocks/TRVI/) | $185.4M | 9,939,447 | 4.0% | 17 |
| KRYSTAL BIOTECH INC | [KRYS](https://holderbook.com/stocks/KRYS/) | $178.9M | 481,307 | 3.9% | 18 |
| MAZE THERAPEUTICS INC | [MAZE](https://holderbook.com/stocks/MAZE/) | $150.2M | 5,032,915 | 3.3% | 6 |
| PHATHOM PHARMACEUTICALS INC | [PHAT](https://holderbook.com/stocks/PHAT/) | $135.3M | 12,466,489 | 2.9% | 18 |
| PALVELLA THERAPEUTICS INC NE | [PVLA](https://holderbook.com/stocks/PVLA/) | $134.8M | 882,400 | 2.9% | 7 |
| BRIDGEBIO PHARMA INC | [BBIO](https://holderbook.com/stocks/BBIO/) | $115.3M | 1,548,139 | 2.5% | 14 |
| DISC MEDICINE INC | [IRON](https://holderbook.com/stocks/IRON/) | $99.1M | 1,354,852 | 2.2% | 13 |
| CYTOKINETICS INC | [CYTK](https://holderbook.com/stocks/CYTK/) | $98.8M | 1,159,879 | 2.2% | 5 |
| DYNE THERAPEUTICS INC | [DYN](https://holderbook.com/stocks/DYN/) | $70.0M | 3,153,082 | 1.5% | 6 |
| ASCENDIS PHARMA A/S | [ASND](https://holderbook.com/stocks/ASND/) | $60.1M | 225,155 | 1.3% | 8 |
| SAVARA INC | [SVRA](https://holderbook.com/stocks/SVRA/) | $59.9M | 9,720,852 | 1.3% | 12 |
| PARABILIS MEDICINES INC | [PBLS](https://holderbook.com/stocks/PBLS/) | $52.6M | 1,920,805 | 1.1% | 1 |
| AURA BIOSCIENCES INC | [AURA](https://holderbook.com/stocks/AURA/) | $50.4M | 7,100,000 | 1.1% | 5 |
| ACHIEVE LIFE SCIENCE INC | [ACHV](https://holderbook.com/stocks/ACHV/) | $49.7M | 7,614,836 | 1.1% | 1 |
| VOR BIOPHARMA INC | [VOR](https://holderbook.com/stocks/VOR/) | $46.8M | 2,543,939 | 1.0% | 3 |
| ALLOGENE THERAPEUTICS INC | [ALLO](https://holderbook.com/stocks/ALLO/) | $46.7M | 22,446,668 | 1.0% | 10 |
| TARSUS PHARMACEUTICALS INC | [TARS](https://holderbook.com/stocks/TARS/) | $45.9M | 728,644 | 1.0% | 18 |
| BIOCRYST PHARMACEUTICALS INC | [BCRX](https://holderbook.com/stocks/BCRX/) | $40.1M | 4,009,240 | 0.9% | 2 |
| ALKERMES PLC | [ALKS](https://holderbook.com/stocks/ALKS/) | $36.7M | 700,647 | 0.8% | 8 |
| ACADIA PHARMACEUTICALS INC | [ACAD](https://holderbook.com/stocks/ACAD/) | $36.4M | 1,438,198 | 0.8% | 4 |
| ZAI LAB LTD | [ZLAB](https://holderbook.com/stocks/ZLAB/) | $36.1M | 1,902,320 | 0.8% | 6 |
| MANNKIND CORP | [MNKD](https://holderbook.com/stocks/MNKD/) | $28.1M | 6,600,000 | 0.6% | 3 |
| DESIGN THERAPEUTICS INC | [DSGN](https://holderbook.com/stocks/DSGN/) | $26.2M | 1,809,854 | 0.6% | 1 |
| ACLARIS THERAPEUTICS INC | [ACRS](https://holderbook.com/stocks/ACRS/) | $26.1M | 4,925,374 | 0.6% | 2 |
| SHATTUCK LABS INC | [STTK](https://holderbook.com/stocks/STTK/) | $26.0M | 3,750,000 | 0.6% | 1 |
| KAILERA THERAPEUTICS INC | [KLRA](https://holderbook.com/stocks/KLRA/) | $24.2M | 1,100,000 | 0.5% | 1 |
| MONTE ROSA THERAPEUTICS INC | [GLUE](https://holderbook.com/stocks/GLUE/) | $24.2M | 1,000,000 | 0.5% | 2 |
| LEXEO THERAPEUTICS INC | [LXEO](https://holderbook.com/stocks/LXEO/) | $22.5M | 4,824,725 | 0.5% | 8 |
| RELAY THERAPEUTICS INC | [RLAY](https://holderbook.com/stocks/RLAY/) | $19.0M | 1,015,693 | 0.4% | 1 |
| EVOLUS INC | [EOLS](https://holderbook.com/stocks/EOLS/) | $18.3M | 2,630,665 | 0.4% | 5 |
| IMMUNOCORE HLDGS PLC | [IMCR](https://holderbook.com/stocks/IMCR/) | $15.4M | 484,782 | 0.3% | 9 |
| VALNEVA SE | [VALN](https://holderbook.com/stocks/VALN/) | $12.0M | 2,291,666 | 0.3% | 5 |
| NEWAMSTERDAM PHARMA COMPANY | [NAMSW](https://holderbook.com/stocks/NAMSW/) | $10.7M | 500,333 | 0.2% | 15 |
| AUTOLUS THERAPEUTICS LTD | [AUTL](https://holderbook.com/stocks/AUTL/) | $7.1M | 4,447,910 | 0.2% | 18 |
| XILIO THERAPEUTICS INC | [XLO](https://holderbook.com/stocks/XLO/) | $4.0M | 422,505 | 0.1% | 2 |
| IBIO INC | [IBIO](https://holderbook.com/stocks/IBIO/) | $3.4M | 1,953,467 | 0.1% | 3 |

## What the disclosed book did

Not the fund's return. This is the change in value of the positions disclosed on Form 13F, had they been left untouched, against SPY over the same quarter ends.

| Quarter | Book | Market | Difference | Priced |
|---|---|---|---|---|
| Q2 2026 | +20.6% | +14.8% | +5.8% | 97% |
| Q1 2026 | +3.1% | -4.6% | +7.8% | 97% |
| Q4 2025 | +30.0% | +2.4% | +27.6% | 88% |
| Q3 2025 | +34.4% | +7.8% | +26.6% | 99% |
| Q2 2025 | +7.7% | +10.5% | -2.8% | 100% |
| Q1 2025 | -6.2% | -4.6% | -1.7% | 100% |
| Q4 2024 | -2.1% | +2.1% | -4.2% | 100% |
| Q3 2024 | +7.5% | +5.4% | +2.1% | 99% |

## Quarter by quarter

| Quarter | Value | Positions |
|---|---|---|
| Q2 2026 | $4.6B | 41 |
| Q1 2026 | $3.9B | 38 |
| Q4 2025 | $3.7B | 40 |
| Q3 2025 | $3.3B | 47 |
| Q2 2025 | $2.5B | 49 |
| Q1 2025 | $2.2B | 47 |
| Q4 2024 | $2.4B | 50 |
| Q3 2024 | $2.5B | 53 |
| Q2 2024 | $2.1B | 49 |
| Q1 2024 | $2.4B | 50 |
| Q4 2023 | $1.9B | 49 |
| Q3 2023 | $1.5B | 51 |