13F Insight
DOSSIER · 13F-HR · Q1 2026

Frazier Life Sciences Management, L.P.

$3.9B in tracked AUM across 38 positions as of Q1 2026.

FL
CIK 0001892134 · last filed Mar 31, 2026
Total AUM
$3.9B
as of Q1 2026
Holdings
38
—
positions
Whale Score
70
70
strong
Activity
—
no data
changes this Q
AI Analysis · Q1 2026

Portfolio Overview

Frazier Life Sciences Management, L.P. manages a highly concentrated, specialized portfolio totaling approximately $1.93 billion across 33 holdings as of the report date September 30, 2025. The firm employs a high-conviction investment strategy, evidenced by the portfolio's narrow focus and significant allocation to single names. The portfolio experienced a substantial decrease in value of 22.9% (dropping from $2.50B in the previous quarter), a decline driven by a combina...

Key Holdings

The portfolio is dominated by NewAmsterdam Pharma Company, which stands as the singular largest holding with a value of $475 million, representing a massive 24.62% portfolio allocation. This indicates an exceptionally high level of conviction in this specific name. The next tier of significant holdings includes BridgeBio Pharma Inc (BBIO) at 10.35% ($199.73M) and Arcutis Biotherapeutics Inc (ARQT) at 9.65% ($186.13M). Together, these top three names signal a heavy tilt toward clinical-stage and commercial-stage biotechnology companies focusing on specific therapeutic areas such as cardiometabolic and dermatological diseases.

Analysis generated by 13F Insight from SEC Form 13F filing data · Q1 2026. Methodology

Quarter at a glance — Q1 2026

Position-change comparison pending.

No quarter-over-quarter changes available.

Top 10 holdings

By portfolio weight as of Q1 2026.

#HoldingValueSharesWeight
01
MIRM
MIRUM PHARMACEUTICALS INC
$709M7.7M18.3%02
N62509109
NEWAMSTERDAM PHARMA COMPANY
$542M16.9M14.0%03
ERAS
ERASCA INC
$399M24.7M10.3%04
BBIO
BRIDGEBIO PHARMA INC
$256M3.4M6.6%05
ARQT
ARCUTIS BIOTHERAPEUTICS INC
$233M9.9M6.0%06
MBX
MBX BIOSCIENCES INC
$199M6.7M5.1%07
PHAT
PHATHOM PHARMACEUTICALS INC
$139M12.5M3.6%08
MAZE
MAZE THERAPEUTICS INC
$136M4.6M3.5%09
KRYS
KRYSTAL BIOTECH INC
$124M481K3.2%10
TRVI
TREVI THERAPEUTICS INC
$119M9.9M3.1%

Filing history

2026Q1Mar 31
$3.9B▲ 4.4%
38 positionsView →2025Q4Dec 31
$3.7B▲ 93.0%
40 positionsView →2025Q3Sep 30
$1.9B▼ 22.9%
33 positionsView →2025Q2Jun 30
$2.5B▲ 108.0%
49 positionsLocked2025Q1Mar 31
$1.2B▼ 50.1%
32 positionsLocked2024Q4Dec 31
$2.4B▼ 3.4%
50 positionsLocked2024Q3Sep 30
$2.5B▲ 16.7%
53 positionsLocked2024Q2Jun 30
$2.1B▼ 9.8%
49 positionsLocked2024Q1Mar 31
$2.4B▲ 26.7%
50 positionsLocked2023Q4Dec 31
$1.9B▲ 24.2%
49 positionsLocked2023Q3Sep 30
$1.5B▼ 10.1%
52 positionsLocked2023Q2Jun 30
$1.7B▲ 21.2%
48 positionsLocked
Showing 12 of 17