2026 Q1 Portfolio Activity
In 2026 Q1, Frazier Life Sciences Management, L.P. maintained a portfolio of 44 distinct positions. The most significant new addition was BIOCRYST PHARMACEUTICALS INC, now representing 0.98% of the total fund value. They heavily accumulated shares in ERASCA INC, increasing the position by 8.6%. Conversely, Frazier Life Sciences Management, L.P. completely exited their position in AVIDITY BIOSCIENCES INC.
Position History
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Frazier Life Sciences Management, L.P.
Seattle, WA
Life Sciences Venture Capital / Growth Equity
AUM $3,887M
Total Positions
44
Quarter
2026 Q1
Top Holding
MIRM (18.3%)
Top 10 Concentration
73.5%
Turnover Rate
23.4%
Sector HHI
0.18
Items per page:
Showing 1-44 of 44
Frazier Life Sciences Management, L.P. Full Holdings List — 2026 Q1
| Stock | History | Sector / Type | Port % | Prev % | Rank / Prev | Conviction | Change | % Change | Influence | Shares | Mkt Value | Avg Cost | Price Held | 1st Owned | Source | Source Date | Date Reported | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
|
MIRM
MIRUM PHARMACEU...
|
Healthcare | 18.25% | 14.42% |
#1
1
Prev: #2
|
8.0 |
—
|
884,563 | 13.0% |
P
S
|
7,679,684 | $709,449,208 | 2022 Q1 | 13F Filing | 2026-03-31 | 2026-05-15 | |||
|
NAMS
NEWAMSTERDAM PH...
|
Healthcare | 13.96% | 15.96% |
#2
1
Prev: #1
|
6.5 |
—
|
no change | no change |
P
S
|
16,943,774 | $542,370,206 | 2022 Q4 | 13F Filing | 2026-03-31 | 2026-05-15 | |||
|
ERAS
ERASCA INC
|
Healthcare | 10.27% | 2.27% |
#3
8
Prev: #11
|
7.0 |
—
|
1,945,752 | 8.6% |
P
S
|
24,675,188 | $399,244,542 | 2024 Q2 | 13F Filing | 2026-03-31 | 2026-05-15 | |||
|
BBIO
BRIDGEBIO PHARM...
|
Healthcare | 6.59% | 7.28% |
#4
Prev: #4
|
3.6 |
—
|
-97,418 | -2.7% |
P
S
|
3,448,139 | $256,058,802 | 2023 Q1 | 13F Filing | 2026-03-31 | 2026-05-15 | |||
|
ARQT
ARCUTIS BIOTHER...
|
Healthcare | 5.99% | 7.70% |
#5
2
Prev: #3
|
3.9 |
—
|
no change | no change |
P
S
|
9,874,511 | $232,643,479 | 2022 Q1 | 13F Filing | 2026-03-31 | 2026-05-15 | |||
|
MBX
MBX BIOSCIENCES...
|
Healthcare | 5.11% | 5.64% |
#6
1
Prev: #5
|
3.0 |
—
|
no change | no change |
P
S
|
6,652,013 | $198,562,588 | 2024 Q3 | 13F Filing | 2026-03-31 | 2026-05-15 | |||
|
PHAT
PHATHOM PHARMAC...
|
Healthcare | 3.56% | 5.55% |
#7
1
Prev: #6
|
2.4 |
—
|
no change | no change |
P
S
|
12,466,489 | $138,502,693 | 2022 Q1 | 13F Filing | 2026-03-31 | 2026-05-15 | |||
|
MAZE
MAZE THERAPEUTI...
|
Healthcare | 3.51% | 5.08% |
#8
1
Prev: #7
|
2.4 |
—
|
no change | no change |
P
S
|
4,567,274 | $136,333,129 | 2025 Q1 | 13F Filing | 2026-03-31 | 2026-05-15 | |||
|
KRYS
KRYSTAL BIOTECH...
|
Healthcare | 3.20% | 3.23% |
#9
Prev: #9
|
1.8 |
—
|
-7,153 | -1.5% |
P
S
|
481,307 | $124,331,224 | 2022 Q1 | 13F Filing | 2026-03-31 | 2026-05-15 | |||
|
TRVI
TREVI THERAPEUT...
|
Healthcare | 3.05% | 3.45% |
#10
2
Prev: #8
|
1.7 |
—
|
-319,862 | -3.1% |
P
S
|
9,939,547 | $118,578,796 | 2022 Q2 | 13F Filing | 2026-03-31 | 2026-05-15 | |||
|
PVLA
PALVELLA THERAP...
|
Healthcare | 2.83% | 2.03% |
#11
2
Prev: #13
|
3.6 |
—
|
160,000 | 22.1% |
P
S
|
882,400 | $109,991,160 | 2024 Q4 | 13F Filing | 2026-03-31 | 2026-05-15 | |||
|
KALV
KALVISTA PHARMA...
|
Healthcare | 2.57% | 2.19% |
#12
Prev: #12
|
1.5 |
—
|
-78,759 | -1.6% |
P
S
|
4,961,108 | $99,867,104 | 2022 Q1 | 13F Filing | 2026-03-31 | 2026-05-15 | |||
|
IRON
DISC MEDICINE I...
|
Healthcare | 2.23% | 2.69% |
#13
3
Prev: #10
|
2.9 |
—
|
94,852 | 7.5% |
P
S
|
1,354,852 | $86,629,237 | 2023 Q2 | 13F Filing | 2026-03-31 | 2026-05-15 | |||
|
CYTK
CYTOKINETICS IN...
|
Healthcare | 1.97% | 1.60% |
#14
5
Prev: #19
|
3.3 |
—
|
225,237 | 24.1% |
P
S
|
1,159,879 | $76,447,625 | 2025 Q2 | 13F Filing | 2026-03-31 | 2026-05-15 | |||
|
RVMD
REVOLUTION MEDI...
|
Healthcare | 1.69% | 1.71% |
#15
Prev: #15
|
1.2 |
—
|
-121,769 | -15.3% |
P
S
|
675,686 | $65,710,464 | 2023 Q1 | 13F Filing | 2026-03-31 | 2026-05-15 | |||
|
DYN
DYNE THERAPEUTI...
|
Healthcare | 1.47% | 1.66% |
#16
Prev: #16
|
1.6 |
—
|
no change | no change |
P
S
|
3,153,082 | $57,165,377 | 2023 Q4 | 13F Filing | 2026-03-31 | 2026-05-15 | |||
|
SVRA
SAVARA INC
|
Healthcare | 1.37% | 1.60% |
#17
1
Prev: #18
|
1.0 |
—
|
-141,449 | -1.4% |
P
S
|
9,720,852 | $53,075,852 | 2023 Q3 | 13F Filing | 2026-03-31 | 2026-05-15 | |||
|
TARS
TARSUS PHARMACE...
|
Healthcare | 1.32% | 1.60% |
#18
1
Prev: #17
|
1.5 |
—
|
no change | no change |
P
S
|
728,644 | $51,114,377 | 2022 Q1 | 13F Filing | 2026-03-31 | 2026-05-15 | |||
|
VOR
VOR BIOPHARMA I...
|
Healthcare | 1.17% | 0.89% |
#19
7
Prev: #26
|
1.5 |
—
|
no change | no change |
P
S
|
2,543,939 | $45,383,872 | 2025 Q4 | 13F Filing | 2026-03-31 | 2026-05-15 | |||
|
AGIO
AGIOS PHARMACEU...
|
Healthcare | 1.09% | 0.94% |
#20
2
Prev: #22
|
0.9 |
—
|
-23,674 | -1.8% |
P
S
|
1,256,080 | $42,493,186 | 2023 Q3 | 13F Filing | 2026-03-31 | 2026-05-15 | |||
|
BCRX
BIOCRYST PHARMA...
|
Healthcare | 0.98% | — |
#21
Prev: #—
|
3.9 |
—
|
4,009,240 | — |
NEW
|
4,009,240 | $38,167,965 | 2026 Q1 | 13F Filing | 2026-03-31 | 2026-05-15 | |||
|
ZLAB
ZAI LAB LTD
|
Healthcare | 0.92% | 0.90% |
#22
2
Prev: #24
|
1.4 |
—
|
no change | no change |
P
S
|
1,902,320 | $35,782,639 | 2025 Q1 | 13F Filing | 2026-03-31 | 2026-05-15 | |||
|
AURA
AURA BIOSCIENCE...
|
Healthcare | 0.88% | 0.75% |
#23
5
Prev: #28
|
1.4 |
—
|
no change | no change |
P
S
|
5,100,000 | $34,119,000 | 2025 Q2 | 13F Filing | 2026-03-31 | 2026-05-15 | |||
|
ACAD
ACADIA PHARMACE...
|
Healthcare | 0.82% | 0.93% |
#24
1
Prev: #23
|
2.3 |
—
|
141,000 | 10.9% |
P
S
|
1,438,198 | $32,014,287 | 2022 Q3 | 13F Filing | 2026-03-31 | 2026-05-15 | |||
|
ASND
ASCENDIS PHARMA...
|
Healthcare | 0.78% | 0.76% |
#25
2
Prev: #27
|
1.3 |
—
|
no change | no change |
P
S
|
133,333 | $30,497,257 | 2024 Q3 | 13F Filing | 2026-03-31 | 2026-05-15 | |||
|
LXEO
LEXEO THERAPEUT...
|
Healthcare | 0.65% | 1.18% |
#26
5
Prev: #21
|
1.3 |
—
|
no change | no change |
P
S
|
4,424,725 | $25,397,922 | 2024 Q3 | 13F Filing | 2026-03-31 | 2026-05-15 | |||
|
ALKS
ALKERMES PLC
|
Healthcare | 0.64% | 0.53% |
#27
4
Prev: #31
|
1.3 |
—
|
no change | no change |
P
S
|
700,647 | $24,774,878 | 2024 Q3 | 13F Filing | 2026-03-31 | 2026-05-15 | |||
|
ACRS
ACLARIS THERAPE...
|
Healthcare | 0.48% | — |
#28
Prev: #—
|
3.7 |
—
|
4,925,374 | — |
NEW
|
4,925,374 | $18,470,153 | 2022 Q1 | 13F Filing | 2026-03-31 | 2026-05-15 | |||
|
GLUE
MONTE ROSA THER...
|
Healthcare | 0.42% | — |
#29
Prev: #—
|
3.7 |
—
|
1,000,000 | — |
NEW
|
1,000,000 | $16,450,000 | 2026 Q1 | 13F Filing | 2026-03-31 | 2026-05-15 | |||
|
IMCR
IMMUNOCORE HLDG...
|
Healthcare | 0.38% | 0.36% |
#30
3
Prev: #33
|
2.7 |
—
|
100,000 | 26.0% |
P
S
|
484,782 | $14,616,177 | 2024 Q2 | 13F Filing | 2026-03-31 | 2026-05-15 | |||
|
MNKD
MANNKIND CORP
|
Healthcare | 0.37% | 0.64% |
#31
2
Prev: #29
|
2.6 |
—
|
1,675,000 | 39.6% |
P
S
|
5,900,000 | $14,455,000 | 2025 Q4 | 13F Filing | 2026-03-31 | 2026-05-15 | |||
|
VALN
VALNEVA SE
|
Healthcare | 0.37% | 0.54% |
#32
2
Prev: #30
|
1.1 |
—
|
no change | no change |
P
S
|
2,291,666 | $14,322,913 | 2025 Q2 | 13F Filing | 2026-03-31 | 2026-05-15 | |||
|
EOLS
EVOLUS INC
|
Healthcare | 0.28% | 0.47% |
#33
1
Prev: #32
|
1.1 |
—
|
no change | no change |
P
S
|
2,630,665 | $10,812,033 | 2025 Q2 | 13F Filing | 2026-03-31 | 2026-05-15 | |||
|
NAMSW
NEWAMSTERDAM PH...
|
Unknown | 0.26% | 0.31% |
#34
Prev: #34
|
1.1 |
—
|
no change | no change |
P
S
|
500,333 | $10,026,673 | 2022 Q4 | 13F Filing | 2026-03-31 | 2026-05-15 | |||
|
ALLO
ALLOGENE THERAP...
|
Healthcare | 0.24% | 0.14% |
#35
2
Prev: #37
|
0.6 |
—
|
-72,082 | -1.9% |
P
S
|
3,796,668 | $9,263,870 | 2024 Q1 | 13F Filing | 2026-03-31 | 2026-05-15 | |||
|
AUTL
AUTOLUS THERAPE...
|
Healthcare | 0.16% | 0.25% |
#36
Prev: #36
|
0.6 |
—
|
-175,414 | -3.8% |
P
S
|
4,447,910 | $6,138,116 | 2022 Q1 | 13F Filing | 2026-03-31 | 2026-05-15 | |||
|
IBIO
IBIO INC
|
Healthcare | 0.10% | 0.10% |
#37
3
Prev: #40
|
1.0 |
—
|
no change | no change |
P
S
|
1,953,467 | $3,711,587 | 2025 Q4 | 13F Filing | 2026-03-31 | 2026-05-15 | |||
|
N/A
XILIO THERAPEUT...
|
|
Unknown | 0.09% | — |
#38
Prev: #—
|
3.5 |
—
|
422,505 | — |
NEW
|
422,505 | $3,553,267 | — | 13F Filing | 2026-03-31 | 2026-05-15 | ||
|
XLO
XILIO THERAPEUT...
|
Healthcare | 0.00% | 0.10% |
Sold All 😨
(Was: #39) |
0.0 |
—
|
-5,915,091 | -100.0% |
CLOSED
|
— | $— | 2025 Q4 | 13F Filing | 2026-03-31 | 2026-05-15 | |||
|
DSGN
DESIGN THERAPEU...
|
Healthcare | 0.00% | 0.13% |
Sold All 😨
(Was: #38) |
0.0 |
—
|
-521,000 | -100.0% |
CLOSED
|
— | $— | 2024 Q2 | 13F Filing | 2026-03-31 | 2026-05-15 | |||
|
TVTX
TRAVERE THERAPE...
|
Healthcare | 0.00% | 0.25% |
Sold All 😨
(Was: #35) |
0.0 |
—
|
-241,592 | -100.0% |
CLOSED
|
— | $— | 2025 Q2 | 13F Filing | 2026-03-31 | 2026-05-15 | |||
|
RAPT
RAPT THERAPEUTI...
|
Healthcare | 0.00% | 0.89% |
Sold All 😨
(Was: #25) |
0.0 |
—
|
-983,333 | -100.0% |
CLOSED
|
— | $— | 2025 Q4 | 13F Filing | 2026-03-31 | 2026-05-15 | |||
|
ABVX
ABIVAX SA
|
Healthcare | 0.00% | 1.37% |
Sold All 😨
(Was: #20) |
0.0 |
—
|
-378,300 | -100.0% |
CLOSED
|
— | $— | 2025 Q3 | 13F Filing | 2026-03-31 | 2026-05-15 | |||
|
RNA
AVIDITY BIOSCIE...
|
Healthcare | 0.00% | 1.90% |
Sold All 😨
(Was: #14) |
0.0 |
—
|
-983,125 | -100.0% |
CLOSED
|
— | $— | 2022 Q4 | 13F Filing | 2026-03-31 | 2026-05-15 |
Showing 1-44 of 44 holdings