Q2 2026 13F · SEC CIK 1892134

Frazier Life Sciences Management, L.P.

Hedge fundFiled 2026-08-14 for Q2 2026. Open the filing ↗ · All SEC filings ↗

Reported 13F value: $4.6B
Reported positions: 41
Top holdings a year, 3 yrs: +48.2%
Average holding period: 3.5 yrs

Frazier Life Sciences Management, L.P. is a hedge fund that reported 41 positions worth $4.6B in its Q2 2026 13F, filed 2026-08-14. Its largest holdings were Mirum Pharmaceuticals Inc (MIRM, 19.6%), Newamsterdam Pharma Company Ordinary (NAMS, 13.3%), Erasca, Inc. (ERAS, 10.0%). A portfolio copying its top holdings returned 48.2% a year over the last 3 years, against 20.4% for the S&P 500.

Frazier Life Sciences Management, L.P. holdings all 41 positions.

Weights are shares of the filer's total reported 13F value, compared with Q1 2026. Share changes may reflect splits; weight changes also reflect price moves. A 13F shows long US-listed positions only, up to 135 days after the fact.

Frazier Life Sciences Management, L.P. 13F holdings
Stock	% of 13F value	Q1 2026	Shares	Share change	Reported value
MIRMMirum Pharmaceuticals Inc	19.6%	18.3%	7,679,684	+0.0%	$899.1M
NAMSNewamsterdam Pharma Company Ordinary	13.3%	14.0%	18,088,902	+6.8%	$613.0M
ERASErasca, Inc.	10.0%	10.3%	24,975,188	+1.2%	$457.5M
MBXMbx Biosciences Inc	8.0%	5.1%	6,652,013	+0.0%	$367.2M
ARQTArcutis Biotherapeutics Inc	5.6%	6.0%	9,874,511	+0.0%	$258.9M
TRVITrevi Therapeutics Inc	4.0%	3.1%	9,939,447	-0.0%	$185.4M
KRYSKrystal Biotech Inc	3.9%	3.2%	481,307	+0.0%	$178.9M
MAZEMaze Therapeutics Inc	3.3%	3.5%	5,032,915	+10.2%	$150.2M
PHATPhathom Pharmaceuticals Inc Com	2.9%	3.6%	12,466,489	+0.0%	$135.3M
PVLAPalvella Therapeutics Inc Ne	2.9%	2.8%	882,400	+0.0%	$134.8M
BBIOBridgebio Pharma Inc	2.5%	6.6%	1,548,139	-55.1%	$115.3M
IRONDisc Medicine Inc	2.2%	2.2%	1,354,852	+0.0%	$99.1M
CYTKCytokinetics	2.2%	2.0%	1,159,879	+0.0%	$98.8M
DYNDyne Therapeutics Inc	1.5%	1.5%	3,153,082	+0.0%	$70.0M
04351P101Ascendis Pharma A/s	1.3%	0.8%	225,155	+68.9%	$60.1M
SVRASavara Inc	1.3%	1.4%	9,720,852	+0.0%	$59.9M
PBLSParabilis Medicines, Inc.	1.1%	New	1,920,805	—	$52.6M
AURAAura Biosciences Inc	1.1%	0.9%	7,100,000	+39.2%	$50.4M
ACHVAchieve Life Science Inc	1.1%	New	7,614,836	—	$49.7M
VORVor Biopharma Inc	1.0%	1.2%	2,543,939	+0.0%	$46.8M
ALLOAllogene Therapeutics Inc	1.0%	0.2%	22,446,668	+491.2%	$46.7M
TARSTarsus Pharmaceuticals Inc	1.0%	1.3%	728,644	+0.0%	$45.9M
BCRXBiocryst Pharmaceuticals Inc	0.9%	1.0%	4,009,240	+0.0%	$40.1M
ALKSAlkermes PLC	0.8%	0.6%	700,647	+0.0%	$36.7M
ACADAcadia Pharmaceuticals Inc	0.8%	0.8%	1,438,198	+0.0%	$36.4M
ZLABZai Lab Ltd	0.8%	0.9%	1,902,320	+0.0%	$36.1M
MNKDMannkind Corp	0.6%	0.4%	6,600,000	+11.9%	$28.1M
DSGNDesign Therapeutics, Inc.	0.6%	New	1,809,854	—	$26.2M
ACRSAclaris Therapeutics Inc	0.6%	0.5%	4,925,374	+0.0%	$26.1M
STTKShattuck Labs Inc	0.6%	New	3,750,000	—	$26.0M
KLRAKailera Therapeutics Inc	0.5%	New	1,100,000	—	$24.2M
GLUEMonte Rosa Therapeutics Inc	0.5%	0.4%	1,000,000	+0.0%	$24.2M
LXEOLexeo Therapeutics Inc	0.5%	0.7%	4,824,725	+9.0%	$22.5M
RLAYRelay Therapeutics Inc	0.4%	New	1,015,693	—	$19.0M
EOLSEvolus Inc	0.4%	0.3%	2,630,665	+0.0%	$18.3M
IMCRImmunocore Hldgs PLC	0.3%	0.4%	484,782	+0.0%	$15.4M
VALNValneva SE	0.3%	0.4%	2,291,666	+0.0%	$12.0M
NAMSWNewamsterdam Pharma Company	0.2%	0.3%	500,333	+0.0%	$10.7M
AUTLAutolus Therapeutics PLC	0.2%	0.2%	4,447,910	+0.0%	$7.1M
XLOXilio Therapeutics Inc	0.1%	0.1%	422,505	+0.0%	$4.0M
IBIOIbio Inc	0.1%	0.1%	1,953,467	+0.0%	$3.4M

What Frazier Life Sciences Management, L.P. bought and sold in Q2 2026, against Q1 2026.

Share counts compared with the Q1 2026 13F; a split also changes share counts.

How the holdings did against the S&P 500.

1 year: +82.0% /yr; S&P 500 +20.1%
3 years: +48.2% /yr; S&P 500 +20.4%
5 years: +36.4% /yr; S&P 500 +15.9%

A portfolio of the filer's 20 largest 13F positions, weighted by value, bought the trading day after each 13F was filed and held until the next one was: what copying this filer could have earned. 13Fs show long US-listed positions only, so this is an estimate of the stock picks, not the fund's reported returns.

Reported 13F value by quarter.

13F value by quarter
Quarter	13F 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

Questions about Frazier Life Sciences Management, L.P.'s portfolio

What stocks does Frazier Life Sciences Management, L.P. own?

Frazier Life Sciences Management, L.P.'s latest 13F, for Q2 2026 and filed Aug 14, 2026, lists 41 positions worth $4.6B. The largest are Mirum Pharmaceuticals Inc (MIRM) at 19.6%, Newamsterdam Pharma Company Ordinary (NAMS) at 13.3%, Erasca, Inc. (ERAS) at 10.0%, Mbx Biosciences Inc (MBX) at 8.0% and Arcutis Biotherapeutics Inc (ARQT) at 5.6%.

What did Frazier Life Sciences Management, L.P. buy last quarter?

In Q2 2026, Frazier Life Sciences Management, L.P. added a new position in Parabilis Medicines, Inc. (PBLS), a new position in Achieve Life Science Inc (ACHV), a new position in Design Therapeutics, Inc. (DSGN), a new position in Shattuck Labs Inc (STTK), a new position in Kailera Therapeutics Inc (KLRA), Allogene Therapeutics Inc (ALLO) (+491.2% shares), Ascendis Pharma A/s (+68.9% shares) and Aura Biosciences Inc (AURA) (+39.2% shares), compared with its Q1 2026 filing.

What did Frazier Life Sciences Management, L.P. sell last quarter?

In Q2 2026, Frazier Life Sciences Management, L.P. sold all of Kalvista Pharmaceuticals Inc (KALV), sold all of Revolution Medicines Inc (RVMD), sold all of Agios Pharmaceuticals Inc (AGIO) and Bridgebio Pharma Inc (BBIO) (-55.1% shares), compared with its Q1 2026 filing.

How has Frazier Life Sciences Management, L.P.'s portfolio performed?

A portfolio copying Frazier Life Sciences Management, L.P.'s 20 largest 13F holdings each quarter, from the day each filing was public, returned +48.2% a year over the last 3 years, against +20.4% for the S&P 500. Over 1 year: +82.0% against +20.1%. Over 5 years: +36.4% a year against +15.9%.

When is Frazier Life Sciences Management, L.P.'s next 13F filing due?

13F filings are due 45 days after each quarter ends. Frazier Life Sciences Management, L.P.'s filing for the quarter ending Sep 30, 2026 is due by Nov 14, 2026; this page updates the day after it is published.