Frazier Life Sciences Management, L.P.

Registered adviser

CIK

1892134

Location

PALO ALTO, CA

Portfolio Value

Mid $4,592,080,302

Diversification

Diversified

Filing Date

Global Rank

#939 / 8,818 ▲ 4

Top Industry

Biotechnology 97.9%

Period ended 4 months ago

Filed Aug 14, 2026 · 2mo

18 quarters · since Mar 2022

Regulatory profile

From Form ADV, the SEC filer profile, 13D/13G type codes and N-CEN, never from the name.

Holder type

Registered adviser

Form ADV roster, Oct 1, 2026

Form ADV adviser

CRD 317522

Roster of Oct 1, 2026

Regulatory AUM

$6,966,857,739

Main clients

Pooled investment vehicles (100% of AUM)

Private funds

8 funds · Mixed

Focus by fund count, roster of Oct 1, 2026

$6,966,857,739 gross assets

LEI

254900K7JVMHHKW0QH33

Private funds on Schedule D 7.B.(1)

As filed Mar 30, 2024; SEC's bulk Form ADV archive ends with 2024 filings.

$2,703,027,395 gross assets in 8 funds Hedge funds $1,181,816,158 (2) Venture capital funds $881,564,864 (3) Private equity funds $639,646,373 (3)

Form ADV history

Monthly rosters from Dec 2019; each row is a run with the same figures, newest first.

Rosters	Regulatory AUM	Main clients
Apr 2026 to Oct 2026	$6,966,857,739	Pooled investment vehicles (100%)
Apr 2025 to Mar 2026	$4,334,440,401	Pooled investment vehicles (100%)
Apr 2024 to Mar 2025	$3,560,674,175	Pooled investment vehicles (100%)
May 2023 to Mar 2024	$3,576,923,882	Pooled investment vehicles (100%)
Apr 2023	$3,576,923,882	Pooled investment vehicles (100%)
Apr 2022 to Mar 2023	$4,035,931,342	Pooled investment vehicles (100%)

1 earlier changes not shown.

Portfolio style

Measured from the filed 13F common-share book for Jun 30, 2026, never from the firm's own description.

Style

Concentrated

The top 10 positions are 73.8% of the book (60%+)

Turnover

Low turnover

17.9% over the last four quarters (under 30%)

Horizon

Long horizon

Value-weighted holding period 12.3 quarters (12+)

Closest benchmark: the Russell 2000 as of 2026-06-30, active share 97.7%; sector active share 90.9% against the combined 13F book's sector weights.

Over time 18 measured quarters

How the bands are measured

Style bands measure the filed 13F common-share book each closed quarter, tested in this order. Unknown: under $10,000,000 of valued equity or 5 stocks. Index-like (100+ stocks): active share of 20% or less against the closest benchmark, which is the S&P 500, S&P MidCap 400, S&P SmallCap 600, Russell 1000, Russell 2000, Nasdaq-100 or Dow Jones Industrial Average (weighted by an index-tracking fund's reported holdings or the index's constituents nearest the quarter end, over the names resolved to companies, and only when those are 90%+ of its weight) or every 13F filer's combined book, or index series holding 80%+ of the registered fund assets it advises (N-CEN) and equal to 50%+ of its book. Systematic-like: 500+ stocks, 100%+ annual turnover and a top 10 weight of 25% or less. Concentrated: a top 10 weight of 60%+ or 12 or fewer effective positions. Diversified active: none of these. Turnover is the smaller of buys and sells over average equity value, summed over four quarters: low under 30%, high 100%+. Horizon is the value-weighted number of quarters each position has been held: short under 4, long 12+.

Clone Performance

Build a hypothetical price-return history from this filer's public 13F holdings.

View clone backtest

Portfolio Concentration

41 tracked positions · as of Jun 30, 2026 · Δ vs Mar 31, 2026

Top Position

19.6%

+1.3 pts

Top 5

56.8%

+1.4 pts

Top 10

73.8%

+0.1 pts

HHI

856

Diversified+25

Portfolio Trend

18 quarters · across all stocks

Sector Breakdown

As of Jun 30, 2026

Sector	% Portfolio	Value	Positions
Healthcare	100.0%	$4,592,080,302	41

Last Quarter's Activity

Export CSV

Jun 30, 2026 vs Mar 31, 2026

Added To

Positions the filer increased

8 positions

Ticker	Company	Δ Shares	Shares	Value
ALLO	Allogene Therapeutics, Inc.	+18,650,000	22,446,668	$46,689,069
AURA	Aura Biosciences, Inc.	+2,000,000	7,100,000	$50,410,000
NAMS	NewAmsterdam Pharma Co N.V.	+1,145,128	18,088,902	$613,032,888
MNKD	Mannkind Corp	+700,000	6,600,000	$28,116,000
MAZE	Maze Therapeutics, Inc.	+465,641	5,032,915	$150,182,183
LXEO	Lexeo Therapeutics, Inc.	+400,000	4,824,725	$22,459,094
ERAS	Erasca, Inc.	+300,000	24,975,188	$457,545,444
ASND	Ascendis Pharma A/S	+91,822	225,155	$60,053,341
No positions match the current search.

Trimmed

Positions the filer reduced

2 positions

Ticker	Company	Δ Shares	Shares	Value
BBIO	BridgeBio Pharma, Inc.	−1,900,000	1,548,139	$115,305,392
TRVI	Trevi Therapeutics, Inc.	−100	9,939,447	$185,370,686
No positions match the current search.

New Positions

Positions the filer opened this quarter

6 positions

Ticker	Company	Shares	Value
PBLS	Parabilis Medicines, Inc.	1,920,805	$52,572,432
ACHV	Achieve Life Sciences, Inc.	7,614,836	$49,724,879
DSGN	Design Therapeutics, Inc.	1,809,854	$26,188,587
STTK	Shattuck Labs, Inc.	3,750,000	$26,025,000
KLRA	Kailera Therapeutics, Inc.	1,100,000	$24,233,000
RLAY	Relay Therapeutics, Inc.	1,015,693	$19,003,616
No positions match the current search.

Sold Out

Positions the filer fully exited

3 positions

Ticker	Company	Shares	Value
—		4,961,108	$99,867,104
RVMD	Revolution Medicines, Inc.	675,686	$65,710,463
AGIO	Agios Pharmaceuticals, Inc.	1,256,080	$42,493,186
No positions match the current search.

Portfolio Positions

Compact Export CSV View 13F filing

41 tracked positions · $4,592,080,302 total · filing declares 41 positions · $4,592,076,814 · as of Jun 30, 2026

All sectors Healthcare

Ticker	Company	Type	Shares	Δ Shares	Value (USD)	% Δ Value	Held (qtrs)	Est. cost/share	% of Portfolio
MIRM	Mirum Pharmaceuticals, Inc. Healthcare	Held	7,679,684	0	$899,060,605	+26.7%	18	before history	19.58%
NAMS	NewAmsterdam Pharma Co N.V. Healthcare	Added	18,088,902	+1,145,128	$613,032,888	+13.0%	15	$14.76	13.35%
ERAS	Erasca, Inc. Healthcare	Added	24,975,188	+300,000	$457,545,444	+14.6%	9	$3.08	9.96%
MBX	MBX Biosciences, Inc. Healthcare	Held	6,652,013	0	$367,191,117	+84.9%	8	unpriced	8.00%
ARQT	Arcutis Biotherapeutics, Inc. Healthcare	Held	9,874,511	0	$258,909,678	+11.3%	18	before history	5.64%
TRVI	Trevi Therapeutics, Inc. Healthcare	Reduced	9,939,447	-100	$185,370,686	+56.3%	17	$2.91	4.04%
KRYS	Krystal Biotech, Inc. Healthcare	Held	481,307	0	$178,887,372	+43.9%	18	before history	3.90%
MAZE	Maze Therapeutics, Inc. Healthcare	Added	5,032,915	+465,641	$150,182,183	+10.2%	6	$13.21	3.27%
PHAT	Phathom Pharmaceuticals, Inc. Healthcare	Held	12,466,489	0	$135,261,405	−2.3%	18	before history	2.95%
PVLA	Palvella Therapeutics, Inc. Healthcare	Held	882,400	0	$134,848,368	+22.6%	7	$32.20	2.94%
BBIO	BridgeBio Pharma, Inc. Healthcare	Reduced	1,548,139	-1,900,000	$115,305,392	−55.0%	14	$21.54	2.51%
IRON	Disc Medicine, Inc. Healthcare	Held	1,354,852	0	$99,093,875	+14.4%	13	$38.17	2.16%
CYTK	Cytokinetics Inc Healthcare	Held	1,159,879	0	$98,810,092	+29.3%	5	$43.27	2.15%
DYN	Dyne Therapeutics, Inc. Healthcare	Held	3,153,082	0	$70,029,951	+22.5%	6	$13.76	1.53%
ASND	Ascendis Pharma A/S Healthcare	Added	225,155	+91,822	$60,053,341	+96.9%	8	$175.24	1.31%
SVRA	Savara Inc Healthcare	Held	9,720,852	0	$59,880,448	+12.8%	12	$3.69	1.30%
PBLS	Parabilis Medicines, Inc. Healthcare	NEW	1,920,805	NEW	$52,572,432	NEW	1	unpriced	1.14%
AURA	Aura Biosciences, Inc. Healthcare	Added	7,100,000	+2,000,000	$50,410,000	+47.7%	5	$6.22	1.10%
ACHV	Achieve Life Sciences, Inc. Healthcare	NEW	7,614,836	NEW	$49,724,879	NEW	1	$4.77	1.08%
VOR	Vor Biopharma Inc. Healthcare	Held	2,543,939	0	$46,833,916	+3.2%	3	$18.62	1.02%
ALLO	Allogene Therapeutics, Inc. Healthcare	Added	22,446,668	+18,650,000	$46,689,069	+404.0%	10	$2.43	1.02%
TARS	Tarsus Pharmaceuticals, Inc. Healthcare	Held	728,644	0	$45,860,853	−10.3%	18	before history	1.00%
BCRX	Biocryst Pharmaceuticals Inc Healthcare	Held	4,009,240	0	$40,092,400	+5.0%	2	$7.77	0.87%
ALKS	Alkermes plc. Healthcare	Held	700,647	0	$36,713,902	+48.2%	8	$27.95	0.80%
ACAD	Acadia Pharmaceuticals Inc Healthcare	Held	1,438,198	0	$36,386,409	+13.7%	4	$23.79	0.79%
ZLAB	Zai Lab Ltd Healthcare	Held	1,902,320	0	$36,144,080	+1.0%	6	$31.38	0.79%
MNKD	Mannkind Corp Healthcare	Added	6,600,000	+700,000	$28,116,000	+94.5%	3	$5.00	0.61%
DSGN	Design Therapeutics, Inc. Healthcare	NEW	1,809,854	NEW	$26,188,587	NEW	1	$12.47	0.57%
ACRS	Aclaris Therapeutics, Inc. Healthcare	Held	4,925,374	0	$26,055,228	+41.1%	2	$3.37	0.57%
STTK	Shattuck Labs, Inc. Healthcare	NEW	3,750,000	NEW	$26,025,000	NEW	1	$6.24	0.57%
KLRA	Kailera Therapeutics, Inc. Healthcare	NEW	1,100,000	NEW	$24,233,000	NEW	1	$21.98	0.53%
GLUE	Monte Rosa Therapeutics, Inc. Healthcare	Held	1,000,000	0	$24,200,000	+47.1%	2	$19.12	0.53%
LXEO	Lexeo Therapeutics, Inc. Healthcare	Added	4,824,725	+400,000	$22,459,094	−11.6%	8	$5.17	0.49%
RLAY	Relay Therapeutics, Inc. Healthcare	NEW	1,015,693	NEW	$19,003,616	NEW	1	$14.52	0.41%
EOLS	Evolus, Inc. Healthcare	Held	2,630,665	0	$18,256,815	+68.9%	5	$10.05	0.40%
IMCR	Immunocore Holdings plc Healthcare	Held	484,782	0	$15,391,828	+5.3%	9	$35.38	0.34%
VALN	Valneva SE Healthcare	Held	2,291,666	0	$11,985,413	−16.3%	5	$7.14	0.26%
NAMSW	NewAmsterdam Pharma Co N.V. Healthcare	Held	500,333	0	$10,692,116	+6.6%	15	$0.78	0.23%
AUTL	Autolus Therapeutics plc Healthcare	Held	4,447,910	0	$7,116,656	+15.9%	18	before history	0.15%
XLO	Xilio Therapeutics, Inc. Healthcare	Held	422,505	0	$4,047,597	+13.9%	3	$10.51	0.09%
IBIO	iBio, Inc. Healthcare	Held	1,953,467	0	$3,418,567	−7.9%	3	$1.36	0.07%

Covers the securities this platform tracks: U.S.-listed common stock and the put/call positions reported on it. A 13F can also report security types outside that coverage — preferred shares, bonds, warrants, untracked share classes — so the filing's own declared total can exceed the figures above. The source filing is linked at the top of this table.