Frazier Life Sciences Management, L.P. 13F: Quarter-over-Quarter Portfolio Changes
Frazier Life Sciences Management, L.P. reported a disclosed portfolio value of approximately $3.9 billion in its latest SEC Form 13F-HR filing for Q1 2026, up 4.4% quarter on quarter. Over the quarter, the fund initiated 4 new positions, bought more shares in 8 holdings, trimmed 9 holdings, and exited 6 positions.
Frazier Life Sciences Management, L.P.'s top buy was a new stake in Biocryst Pharmaceuticals INC (BCRX) , equal to 1.0% of the disclosed portfolio. Its top sell was Avidity Biosciences INC (RNAGBP) . The fund exited the position completely after it had accounted for 1.9% of the previous portfolio.
New PositionsQ1 2026
Securities disclosed for the first time in Q1 2026 that were not present in the prior 13F-HR filing.
| Company | Ticker | Initial Portfolio Weight | History |
|---|---|---|---|
| BIOCRYST PHARMACEUTICALS INC | BCRX | 1.0% | Holders → |
| ACLARIS THERAPEUTICS INC | ACRS | 0.5% | Holders → |
| MONTE ROSA THERAPEUTICS INC | GLUE | 0.4% | Holders → |
| XILIO THERAPEUTICS INC | XLO | 0.1% | Holders → |
Top BuysQ1 2026
The fund's top buys among existing positions in Q1 2026. Ranked by portfolio-weight impact, with the percentage of additional shares shown separately.
| Company | Ticker | Portfolio Weight Change | More Shares | History |
|---|---|---|---|---|
| MANNKIND CORP | MNKD | +-0.3% | +39.6% | Holders → |
| IMMUNOCORE HLDGS PLC | IMCR | +0.0% | +26.0% | Holders → |
| CYTOKINETICS INC | CYTK | +0.4% | +24.1% | Holders → |
| PALVELLA THERAPEUTICS INC NE | PVLA | +0.8% | +22.1% | Holders → |
| MIRUM PHARMACEUTICALS INC | MIRM | +3.8% | +13.0% | History → |
| ACADIA PHARMACEUTICALS INC. | ACAD | +-0.1% | +10.9% | Holders → |
| ERASCA INC | ERAS | +8.0% | +8.6% | History → |
| DISC MEDICINE INC | IRON | +-0.5% | +7.5% | Holders → |
Top SellsQ1 2026
The fund's top sells among positions it retained in Q1 2026. Ranked by portfolio-weight impact. Full exits are listed separately.
| Company | Ticker | Portfolio Weight Change | Shares Sold | History |
|---|---|---|---|---|
| REVOLUTION MEDICINES INC | RVMD | -0.0% | 15.3% | Holders → |
| AUTOLUS THERAPEUTICS LTD | AUTL | -0.1% | 3.8% | Holders → |
| TREVI THERAPEUTICS INC | TRVI | -0.4% | 3.1% | History → |
| BRIDGEBIO PHARMA INC | BBIO | -0.7% | 2.7% | History → |
| ALLOGENE THERAPEUTICS INC | ALLO | 0.1% | 1.9% | Holders → |
| AGIOS PHARMACEUTICALS INC | AGIO | 0.2% | 1.8% | Holders → |
| KALVISTA PHARMACEUTICALS | KALV | 0.4% | 1.6% | Holders → |
| KRYSTAL BIOTECH | KRYS | -0.0% | 1.5% | History → |
| SAVARA INC | SVRA | -0.2% | 1.4% | Holders → |
Full ExitsQ1 2026
Positions present in the prior 13F-HR filing that no longer appear in Q1 2026.
| Company | Ticker | Last-Reported Portfolio Weight |
|---|---|---|
| AVIDITY BIOSCIENCES INC | RNAGBP | 1.9% |
| ABIVAX SA | ABVX | 1.4% |
| RAPT THERAPEUTICS INC | RAPT | 0.9% |
| TRAVERE THERAPEUTICS INC | TVTX | 0.2% |
| DESIGN THERAPEUTICS INC | DSGN | 0.1% |
| XILIO THERAPEUTICS INC | SYN_98422T100 | 0.1% |
Net Portfolio Value ChangeQ1 2026
- $3.7BPrior quarter
- $3.9BCurrent quarter
- +$0.2BNet delta
- +4.4%% change
Methodology & FAQ
How Frazier Life Sciences Management, L.P. Quarterly Changes Are Computed
All deltas are sourced from sequential SEC Form 13F-HR filings for Frazier Life Sciences Management, L.P.: each row joins the most recent filing against the immediately preceding quarterly filing for the same fund. Share-count changes reflect reported trading activity, while portfolio weights can also move because of market price changes. Portfolio weights are normalized to exclude listed options for comparability. A complete description — including how confidential treatment filings are handled — is documented in the Methodology.
What stocks did Frazier Life Sciences Management, L.P. buy in Q1 2026?
In Q1 2026, Frazier Life Sciences Management, L.P. initiated 4 new positions (BIOCRYST PHARMACEUTICALS INC (BCRX), ACLARIS THERAPEUTICS INC (ACRS), MONTE ROSA THERAPEUTICS INC (GLUE), XILIO THERAPEUTICS INC (XLO)); bought more shares of MANNKIND CORP (MNKD), IMMUNOCORE HLDGS PLC (IMCR), CYTOKINETICS INC (CYTK), PALVELLA THERAPEUTICS INC NE (PVLA), MIRUM PHARMACEUTICALS INC (MIRM) — the largest 5 of 8 adds.
What stocks did Frazier Life Sciences Management, L.P. sell in Q1 2026?
In Q1 2026, Frazier Life Sciences Management, L.P. fully sold 6 positions (AVIDITY BIOSCIENCES INC (RNAGBP), ABIVAX SA (ABVX), RAPT THERAPEUTICS INC (RAPT), TRAVERE THERAPEUTICS INC (TVTX), DESIGN THERAPEUTICS INC (DSGN), XILIO THERAPEUTICS INC (SYN_98422T100)); reduced holdings in REVOLUTION MEDICINES INC (RVMD), AUTOLUS THERAPEUTICS LTD (AUTL), TREVI THERAPEUTICS INC (TRVI), BRIDGEBIO PHARMA INC (BBIO), ALLOGENE THERAPEUTICS INC (ALLO) — the largest 5 of 9 reductions.
Which positions did Frazier Life Sciences Management, L.P. initiate in Q1 2026?
Frazier Life Sciences Management, L.P. established 4 new positions in Q1 2026: BIOCRYST PHARMACEUTICALS INC (BCRX, 1.0%), ACLARIS THERAPEUTICS INC (ACRS, 0.5%), MONTE ROSA THERAPEUTICS INC (GLUE, 0.4%), XILIO THERAPEUTICS INC (XLO, 0.1%).
Which existing positions saw the largest allocation increases for Frazier Life Sciences Management, L.P. in Q1 2026?
Of 8 existing positions with share-count increases in Q1 2026, the largest were: MANNKIND CORP (MNKD, +-0.3% weight, +39.6% shares), IMMUNOCORE HLDGS PLC (IMCR, +0.0% weight, +26.0% shares), CYTOKINETICS INC (CYTK, +0.4% weight, +24.1% shares), PALVELLA THERAPEUTICS INC NE (PVLA, +0.8% weight, +22.1% shares), MIRUM PHARMACEUTICALS INC (MIRM, +3.8% weight, +13.0% shares), ACADIA PHARMACEUTICALS INC. (ACAD, +-0.1% weight, +10.9% shares), ERASCA INC (ERAS, +8.0% weight, +8.6% shares), DISC MEDICINE INC (IRON, +-0.5% weight, +7.5% shares).
Which positions did Frazier Life Sciences Management, L.P. fully exit in Q1 2026?
Frazier Life Sciences Management, L.P. fully exited 6 positions in Q1 2026: AVIDITY BIOSCIENCES INC (RNAGBP, last-reported weight 1.9%), ABIVAX SA (ABVX, last-reported weight 1.4%), RAPT THERAPEUTICS INC (RAPT, last-reported weight 0.9%), TRAVERE THERAPEUTICS INC (TVTX, last-reported weight 0.2%), DESIGN THERAPEUTICS INC (DSGN, last-reported weight 0.1%), XILIO THERAPEUTICS INC (SYN_98422T100, last-reported weight 0.1%).
Which existing positions saw the largest allocation reductions for Frazier Life Sciences Management, L.P. in Q1 2026?
Of 9 existing positions with share-count reductions in Q1 2026, the largest were: REVOLUTION MEDICINES INC (RVMD, -0.0% weight, -15.3% shares), AUTOLUS THERAPEUTICS LTD (AUTL, -0.1% weight, -3.8% shares), TREVI THERAPEUTICS INC (TRVI, -0.4% weight, -3.1% shares), BRIDGEBIO PHARMA INC (BBIO, -0.7% weight, -2.7% shares), ALLOGENE THERAPEUTICS INC (ALLO, 0.1% weight, -1.9% shares), AGIOS PHARMACEUTICALS INC (AGIO, 0.2% weight, -1.8% shares), KALVISTA PHARMACEUTICALS (KALV, 0.4% weight, -1.6% shares), KRYSTAL BIOTECH (KRYS, -0.0% weight, -1.5% shares), SAVARA INC (SVRA, -0.2% weight, -1.4% shares).
Do quarter-over-quarter 13F allocation changes constitute explicit trading signals?
No. Quarter-over-quarter changes reflect a combination of active trading and market price movement. A weight increase can result from price appreciation alone, without the manager adding shares. Share-count delta is the cleaner indicator of explicit trading activity. All deltas on this page are sourced from sequential SEC Form 13F-HR filings.