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Asset Manager ← All Institutions

Frazier Life Sciences Management, L.P.

Q4 2025 · Filed 2026-02-13
Market Value
$3.1B
+10.2%
Holdings
43
-3
New Purchases
3
Added To
5
Closed
8
Reduced
8
Top 10 Concentration
69.3%
Turnover
25.6%

Top Buys (by % of Portfolio)

SymbolCur %Prior %Chg %Value
ARQT 9.31% 6.66% +2.65% $287M
MBX 6.81% 4.16% +2.64% $210M
MAZE 6.14% 4.24% +1.90% $189M
BBIO 8.80% 7.15% +1.66% $271M
PHAT 6.71% 5.25% +1.46% $207M
RNAM 2.30% 0.97% +1.33% $71M
RAPT 1.08% 0.00% +1.08% $33M
VOR 1.08% 0.00% +1.08% $33M
ERAS 2.74% 1.77% +0.97% $85M
PVLA 2.45% 1.62% +0.83% $76M
TRVI 4.17% 3.36% +0.81% $128M
MNKD 0.78% 0.00% +0.78% $24M
DYN 2.00% 1.23% +0.77% $62M
ACAD 1.12% 0.47% +0.66% $35M
ABVX 1.66% 1.15% +0.51% $51M

Top Sells (by % of Portfolio)

SymbolCur %Prior %Chg %Value
VRNA 0.00% 12.92% -12.92% $0
RARE 0.00% 1.06% -1.06% $0
ZLAB 1.09% 1.97% -0.88% $34M
AGIO 1.13% 1.84% -0.71% $35M
MREO 0.00% 0.70% -0.70% $0
AKRO 0.00% 0.62% -0.62% $0
PCVX 0.00% 0.61% -0.61% $0
TARS 1.94% 2.48% -0.55% $60M
KRYS 3.91% 4.35% -0.44% $120M
JBIO 0.00% 0.44% -0.44% $0
MIRM 17.42% 17.82% -0.40% $537M
DSGN 0.16% 0.53% -0.37% $5M
VALN 0.66% 1.00% -0.34% $20M
AURA 0.90% 1.13% -0.23% $28M
MGNX 0.00% 0.19% -0.19% $0

Sector Allocation Over Time

Market Cap Concentration

TierHoldingsValueWeight
Large Cap 4 $406M 13.2%
Mid Cap 17 $1.6B 51.5%
Small Cap 18 $1.1B 34.3%
Micro Cap 4 $33M 1.1%

Portfolio Analytics

Avg Market Cap
$5.2B
Median Market Cap
$1.7B
Avg P/E
29.5
Median P/E
39.0
Avg Dividend Yield
—%
Avg Beta
0.88
# Stocks
43
# ETFs / Funds
0

Top Holdings (43 total)

# Symbol % Port Shares Value Avg Price Q/Q Value Chg Share Chg Chg % Status
1 MIRM 17.42% 6,795,121 $537M $78.99 $39M
2 ARQT 9.31% 9,874,511 $287M $29.04 $101M
3 BBIO 8.80% 3,545,557 $271M $76.49 $71M -299,900 -7.8%
4 MBX 6.81% 6,652,013 $210M $31.54 $93M
5 PHAT 6.71% 12,466,489 $207M $16.59 $60M
6 MAZE 6.14% 4,567,274 $189M $41.43 $71M
7 TRVI 4.17% 10,259,409 $128M $12.52 $35M
8 KRYS 3.91% 488,460 $120M $246.54 -$1M -200,000 -29.1%
9 IRON 3.25% 1,260,000 $100M $79.41 $5M -178,534 -12.4%
10 ERAS 2.74% 22,729,436 $85M $3.72 $35M
11 KALV 2.64% 5,039,867 $81M $16.15 $20M
12 PVLA 2.45% 722,400 $76M $104.67 $30M
13 RNAM 2.30% 983,125 $71M $72.13 $44M +358,125 +57.3%
14 RVMD 2.06% 797,455 $64M $79.65 $17M -200,000 -20.1%
15 DYN 2.00% 3,153,082 $62M $19.56 $27M +434,977 +16.0%
16 TARS 1.94% 728,644 $60M $81.88 -$10M -438,883 -37.6%
17 SVRA 1.93% 9,862,301 $59M $6.03 $19M -1,600,000 -14.0%
18 CYTK 1.93% 934,642 $59M $63.54 $10M +44,197 +5.0%
19 ABVX 1.66% 378,300 $51M $134.86 $19M
20 LXEO 1.43% 4,424,725 $44M $9.93 $15M
21 AGIO 1.13% 1,279,754 $35M $27.22 -$17M
22 ACAD 1.12% 1,297,198 $35M $26.71 $22M +683,361 +111.3%
23 ZLAB 1.09% 1,902,320 $34M $17.64 -$22M +275,000 +16.9%
24 RAPT 1.08% 983,333 $33M $33.87 +983,333 NEW
25 VOR 1.08% 2,543,939 $33M $13.08 +2,543,939 NEW
26 AURA 0.90% 5,100,000 $28M $5.45 -$4M
27 MNKD 0.78% 4,225,000 $24M $5.67 +4,225,000 NEW
28 VALN 0.66% 2,291,666 $20M $8.82 -$8M
29 ALKS 0.64% 700,647 $20M $27.98 -$1M
30 EOLS 0.57% 2,630,665 $17M $6.65 $1M
31 IMCR 0.43% 384,782 $13M $34.71 -$623K
32 TVTX 0.30% 241,592 $9M $38.21 -$140K -150,500 -38.4%
33 AUTL 0.30% 4,623,324 $9M $1.99 $2M
34 ALLO 0.17% 3,868,750 $5M $1.37 $503K
35 DSGN 0.16% 521,000 $5M $9.38 -$10M -1,432,547 -73.3%
36 PCVX —% -$17M -474,405 -100.0% SOLD
37 JBIO —% -$12M -1,413,280 -100.0% SOLD
38 AKRO —% -$17M -366,784 -100.0% SOLD
39 MGNX —% -$5M -3,175,665 -100.0% SOLD
40 RARE —% -$30M -983,715 -100.0% SOLD
41 SLN —% -$5M -970,130 -100.0% SOLD
42 MREO —% -$19M -9,440,112 -100.0% SOLD
43 VRNA —% -$361M -3,383,950 -100.0% SOLD

New Positions

SymbolValue% Port
RAPT $33M 1.08%
VOR $33M 1.08%
MNKD $24M 0.78%

Sold Out Positions

SymbolValue% Port
JBIO —%
MREO —%
MGNX —%
PCVX —%
RARE —%
SLN —%
AKRO —%
VRNA —%
View SEC EDGAR Filings for Frazier Life Sciences Management, L.P. →

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For informational purposes only. Not investment advice. Data sourced from SEC filings. Privacy Terms