Frazier Life Sciences Management, L.P.
In its 13F for Q4 2024 (holdings as of December 31, 2024, filed February 18, 2025), Frazier Life Sciences Management, L.P. reported 49 stock positions worth $2.4 billion. Its top holding was Newamsterdam Pharma (NAMS) at 17.0% of the portfolio, followed by Mirum Pharmaceuticals (MIRM, 11.3%) and Verona Pharma (VRNA, 6.5%). Compared with Q3 2024, it opened 3 new positions, sold out of 6, added to 12 and reduced 9. The biggest buy was Newamsterdam Pharma (NAMS, shares +24%) and the biggest sale Vaxcyte (PCVX, shares −39%).
- Most Recent 13F
- Q2 2026
- Location
- PALO ALTO, CA
- CIK
- 0001892134
- Portfolio Value
- $2.4B (Q4 2024)
- SEC Filing
- 0001892134-25-000001 ↗ filed Feb 18, 2025
Holdings Value
Holdings 49 stocks · $2.4B
| NAMS Newamsterdam Pharma Co. NV | 17.03% | 15,916,418 | $409.1M | Add +23.8% |
| MIRM Mirum Pharmaceuticals Inc. | 11.31% | 6,570,392 | $271.7M | No change |
| VRNA Verona Pharma Ltd. | 6.54% | 3,383,950 | $157.2M | No change |
| KRYS Krystal Biotech Inc. | 5.14% | 788,460 | $123.5M | Reduce -20.2% |
| ARQT Arcutis Biotherapeutics Inc. | 5.09% | 8,785,284 | $122.4M | No change |
| IRON Disc Medicine Inc. | 4.63% | 1,754,834 | $111.3M | No change |
| MBX MBX Biosciences Inc. | 4.59% | 5,985,347 | $110.3M | No change |
| RYTM Rhythm Pharmaceuticals Inc. | 4.36% | 1,869,808 | $104.7M | Reduce -22.6% |
| BBIO Bridgebio Pharma Inc. | 4.34% | 3,800,457 | $104.3M | Add +1.1% |
| TARS Tarsus Pharmaceuticals Inc. | 3.66% | 1,587,527 | $87.9M | No change |
| PHAT Phathom Pharmaceuticals Inc. | 3.42% | 10,109,279 | $82.1M | No change |
| ERAS Erasca Inc. | 2.03% | 19,391,687 | $48.7M | No change |
| PCVX Vaxcyte Inc. | 1.84% | 539,405 | $44.2M | Reduce -38.7% |
| TRVI Trevi Therapeutics Inc. | 1.83% | 10,664,774 | $43.9M | Add +44.5% |
| RVMD Revolution Medicines Inc. | 1.82% | 997,455 | $43.6M | No change |
| KALV Kalvista Pharmaceuticals Inc. | 1.72% | 4,887,867 | $41.4M | Add +32.5% |
| AGIO Agios Pharmaceuticals Inc. | 1.46% | 1,069,754 | $35.2M | Add +2.5% |
| EWTX Edgewise Therapeutics Inc. | 1.41% | 1,271,245 | $33.9M | Reduce -55.1% |
| SLNO Soleno Therapeutics Inc. | 1.31% | 699,159 | $31.4M | Reduce -20.2% |
| ORIC Oric Pharmaceuticals Inc. | 1.31% | 3,888,238 | $31.4M | Reduce -6.2% |
| RARE Ultragenyx Pharmaceutical Inc. | 1.15% | 658,715 | $27.7M | Add +3.9% |
| SVRA Savara Inc. | 1.11% | 8,660,379 | $26.6M | Add +6.2% |
| CGON CG Oncology Inc. | 0.92% | 770,000 | $22.1M | No change |
| HLVX Hillevax Inc. | 0.91% | 10,617,062 | $22.0M | No change |
| ANAB Anaptysbio Inc. | 0.87% | 1,573,719 | $20.8M | Reduce -28.8% |
| RCKT Rocket Pharmaceuticals Inc. | 0.77% | 1,479,025 | $18.6M | Reduce -0.4% |
| ASND Ascendis Pharma A/S | 0.76% | 133,333 | $18.4M | No change |
| MREO Mereo Biopharma Group PL-ADR | 0.74% | 5,097,779 | $17.8M | No change |
| ALKS Alkermes PLC | 0.72% | 601,129 | $17.3M | Add +4.3% |
| MRUS Merus NV | 0.65% | 373,100 | $15.7M | No change |
| IMTX Immatics NV | 0.64% | 2,147,911 | $15.3M | Add +58.5% |
| PLRX Pliant Therapeutics Inc. | 0.61% | 1,120,803 | $14.8M | New |
| DSGN Design Therapeutics Inc. | 0.50% | 1,953,547 | $12.1M | Add +3.2% |
| ORKA Oruka Therapeutics Inc. | 0.47% | 583,327 | $11.3M | Add +22.2% |
| AUTL Autolus Therapeutics PLC | 0.45% | 4,623,324 | $10.9M | No change |
| MGNX Macrogenics Inc. | 0.43% | 3,175,665 | $10.3M | Add +5.5% |
| DAWN Day One Biopharmaceuticals I | 0.36% | 689,655 | $8.7M | No change |
| ACAD Acadia Pharmaceuticals Inc. | 0.36% | 470,338 | $8.6M | No change |
| SLN Silence Therapeutics PLC-ADR | 0.33% | 1,148,591 | $7.9M | No change |
| PVLA Palvella Therapeutics Inc. | 0.33% | 653,892 | $7.8M | New |
| ETNB 89BIO Inc. | 0.33% | 1,000,000 | $7.8M | No change |
| COGT Cogent Biosciences Inc. | 0.30% | 936,576 | $7.3M | No change |
| LXEO Lexeo Therapeutics Inc. | 0.26% | 955,515 | $6.3M | Reduce -23.6% |
| ALLO Allogene Therapeutics Inc. | 0.25% | 2,867,750 | $6.1M | No change |
| ARVN Arvinas Inc. | 0.23% | 285,331 | $5.5M | No change |
| ADVM Adverum Biotechnologies Inc. | 0.21% | 1,069,244 | $5.0M | No change |
| ELDN Eledon Pharmaceuticals Inc. | 0.20% | 1,176,735 | $4.8M | New |
| ELEV Elevation Oncology Inc. | 0.14% | 5,993,579 | $3.4M | No change |
| IMCR Immunocore Holdings PLC-ADR | 0.13% | 108,762 | $3.2M | No change |
Other holdings (1): bonds, preferreds, convertibles and warrants · $7.1M (not counted above)
| Security | Class | Shares / Principal | Value | Change |
|---|---|---|---|---|
| NAMSW Newamsterdam Pharma Co. NV-27 | *W EXP 99/99/999 | 500,333 | $7.1M | No change |
Total filed on the 13F, all lines: $2.4B.
Portfolio Sells Q3 2024 → Q4 2024
| PCVX Vaxcyte Inc. | Reduce -38.7% | 1.84% | −2.20 |
| ANAB Anaptysbio Inc. | Reduce -28.8% | 0.87% | −2.10 |
| KRYS Krystal Biotech Inc. | Reduce -20.2% | 5.14% | −2.08 |
| EWTX Edgewise Therapeutics Inc. | Reduce -55.1% | 1.41% | −1.62 |
| RYTM Rhythm Pharmaceuticals Inc. | Reduce -22.6% | 4.36% | −0.72 |
| TYRA Tyra Biosciences Inc. | Sold out | 0.00% | −0.69 |
| SLNO Soleno Therapeutics Inc. | Reduce -20.2% | 1.31% | −0.47 |
| ORIC Oric Pharmaceuticals Inc. | Reduce -6.2% | 1.31% | −0.40 |
| RCKT Rocket Pharmaceuticals Inc. | Reduce -0.4% | 0.77% | −0.33 |
| PBYI Puma Biotechnology Inc. | Sold out | 0.00% | −0.31 |
| PEPG Pepgen Inc. | Sold out | 0.00% | −0.24 |
| LXEO Lexeo Therapeutics Inc. | Reduce -23.6% | 0.26% | −0.19 |
| NUVB Nuvation Bio Inc. | Sold out | 0.00% | −0.11 |
| ACRS Aclaris Therapeutics Inc. | Sold out | 0.00% | −0.01 |
| PIERIS PHARMACEUTICALS INC | Sold out | 0.00% | −0.01 |
Portfolio Buys Q3 2024 → Q4 2024
| NAMS Newamsterdam Pharma Co. NV | Add +23.8% | 17.03% | +8.46 |
| TRVI Trevi Therapeutics Inc. | Add +44.5% | 1.83% | +0.84 |
| PLRX Pliant Therapeutics Inc. | New | 0.61% | +0.61 |
| BBIO Bridgebio Pharma Inc. | Add +1.1% | 4.34% | +0.50 |
| PVLA Palvella Therapeutics Inc. | New | 0.33% | +0.33 |
| ELDN Eledon Pharmaceuticals Inc. | New | 0.20% | +0.20 |
| DSGN Design Therapeutics Inc. | Add +3.2% | 0.50% | +0.09 |
| ALKS Alkermes PLC | Add +4.3% | 0.72% | +0.07 |
| MGNX Macrogenics Inc. | Add +5.5% | 0.43% | +0.03 |
| IMTX Immatics NV | Add +58.5% | 0.64% | +0.02 |
| KALV Kalvista Pharmaceuticals Inc. | Add +32.5% | 1.72% | +0.01 |
| ORKA Oruka Therapeutics Inc. | Add +22.2% | 0.47% | +0.00 |
| RARE Ultragenyx Pharmaceutical Inc. | Add +3.9% | 1.15% | −0.26 |
| SVRA Savara Inc. | Add +6.2% | 1.11% | −0.28 |
| AGIO Agios Pharmaceuticals Inc. | Add +2.5% | 1.46% | −0.40 |
All Filings
| Quarter | Positions | 13F Reported Value | Top Holdings |
|---|---|---|---|
| Q2 2026 | 40 | $4.6B | MIRM, NAMS, ERAS, MBX, ARQT |
| Q1 2026 | 37 | $3.9B | MIRM, NAMS, ERAS, BBIO, ARQT |
| Q4 2025 | 39 | $3.7B | NAMS, MIRM, ARQT, BBIO, MBX |
| Q3 2025 | 46 | $3.3B | MIRM, NAMS, VRNA, BBIO, ARQT |
| Q2 2025 | 48 | $2.5B | MIRM, VRNA, NAMS, BBIO, ARQT |
| Q1 2025 | 46 | $2.2B | NAMS, MIRM, VRNA, ARQT, BBIO |
| Q4 2024 | 49 | $2.4B | NAMS, MIRM, VRNA, KRYS, ARQT |
| Q3 2024 | 52 | $2.5B | MIRM, NAMS, PHAT, KRYS, MBX |
| Q2 2024 | 48 | $2.1B | NAMS, MIRM, KRYS, HLVX, PHAT |
| Q1 2024 | 49 | $2.4B | NAMS, KRYS, MIRM, HLVX, ALPN |