Managers / Q4 2019 · view latest →
FRAZIER MANAGEMENT LLC
CIK 0001032165 · 601 UNION ST, SUITE 2110, SEATTLE, WA, 98101 · 2066217200
Summary
Frazier Management LLC reported $596M in U.S.-listed holdings across 20 positions for Q4 2019.
The portfolio is heavily concentrated: PHAT alone accounts for 38.0% of reported value.
Compared with Q3 2019, the fund opened 2 new positions and exited 1.
Portfolio Metrics
Methodology: turnover is min(value bought, value sold) ÷ average reported value across the two quarters — value-based, so market moves inflate it slightly versus a share-based measure. Concentration and largest position are shares of the filing’s total reported value, options excluded, with multiple share classes and repeated sub-manager rows for the same issuer combined into one position — the same rule the holdings table uses by default. New/exited counts compare against the prior filed quarter. All figures derive solely from the fund’s 13F filings.
Reported Value by Quarter
Portfolio Composition
- Common Stock · 89.2% · $532M
- Other · 10.8% · $64M
Quarter-over-Quarter Changes full breakdown →
vs Q3 2019 (amended baseline)
| Issuer | Move | Share Δ | Shares now | Value Δ | Value now |
|---|---|---|---|---|---|
| PHATPHATHOM PHARMACEUTICALS INC | NEW | +7.28M | 7.28M | +$227M | $227M |
| ADVERUM BIOTECHNOLOGIES INC | NEW | +268.3K | 268.3K | +$3M | $3M |
| SYNLOGIC INC | SOLD OUT | −282.6K | 0 | −$647,000 | $0 |
| KEZAR LIFE SCIENCES INC | TRIMMED | −377.2K | 90.6K | −$1M | $363,000 |
| MIRMMIRUM PHARMACEUTICALS INC | HELD | +0 | 3.57M | +$52M | $87M |
| ANABANAPTYSBIO INC | HELD | +0 | 2.32M | −$43M | $38M |
| KRYSKRYSTAL BIOTECH INC | HELD | +0 | 895.0K | +$18M | $50M |
| COLLCOLLEGIUM PHARMACEUTICAL INC | HELD | +0 | 1.89M | +$17M | $39M |
Value changes conflate price moves with buying and selling — share changes are the real signal. Share counts are not split-adjusted.
Holdings — Q4 2019
| # | Issuer | Class | % Portfolio | Value ↓ | Shares |
|---|---|---|---|---|---|
| 1 | PHATPHATHOM PHARMACEUTICALS INChistory → | COM | 38.04% | $227M | 7.28M |
| 2 | MIRMMIRUM PHARMACEUTICALS INChistory → | COM | 14.67% | $87M | 3.57M |
| 3 | KRYSKRYSTAL BIOTECH INChistory → | COM | 8.31% | $50M | 895.0K |
| 4 | IOVAIOVANCE BIOTHERAPEUTICS INChistory → | COM | 8.13% | $48M | 1.75M |
| 5 | COLLCOLLEGIUM PHARMACEUTICAL INChistory → | COM | 6.51% | $39M | 1.89M |
| 6 | ANABANAPTYSBIO INChistory → | COM | 6.31% | $38M | 2.32M |
| 7 | GRITSTONE ONCOLOGY INC | COM | 3.10% | $18M | 2.06M |
| 8 | TRANSLATE BIO INC | COM | 2.98% | $18M | 2.18M |
| 9 | APTINYX INC | COM | 1.83% | $11M | 3.19M |
| 10 | ALPINE IMMUNE SCIENCES INC | COM | 1.66% | $10M | 2.57M |
| 11 | MILLENDO THERAPEUTICS INC | COM | 1.58% | $9M | 1.40M |
| 12 | ALLENA PHARMACEUTICALS INC | COM | 1.52% | $9M | 3.33M |
| 13 | ITERUM THERAPEUTICS PLC | SHS | 1.16% | $7M | 1.54M |
| 14 | ENTASIS THERAPEUTICS HLDGS I | COM | 1.13% | $7M | 1.35M |
| 15 | NABRIVA THERAPEUTICS PLC | SHS | 0.94% | $6M | 4.26M |
| 16 | CIDARA THERAPEUTICS INC | COM | 0.85% | $5M | 1.31M |
| 17 | ADVERUM BIOTECHNOLOGIES INC | COM | 0.52% | $3M | 268.3K |
| 18 | SIERRA ONCOLOGY INC | COM | 0.47% | $3M | 8.11M |
| 19 | BELLICUM PHARMACEUTICALS INC | COM | 0.23% | $1M | 1.05M |
| 20 | KEZAR LIFE SCIENCES INC | COM | 0.06% | $363,000 | 90.6K |
Filing History
| Quarter | Reported Value | Positions | Filed | Type | Links |
|---|---|---|---|---|---|
| Q3 2022 | $0 | 1 | Nov 14, 2022 | 13F-HR | changes · EDGAR ↗ |
| Q2 2022 | $1M | 1 | Aug 10, 2022 | 13F-HR | changes · EDGAR ↗ |
| Q1 2022 | Under review | 2 | May 13, 2022 | 13F-HR | changes · EDGAR ↗ |
| Q4 2021 | $1.3B | 43 | Feb 8, 2022 | 13F-HR | changes · EDGAR ↗ |
| Q3 2021 | $1.2B | 41 | Nov 12, 2021 | 13F-HR | changes · EDGAR ↗ |
| Q2 2021 | $1.1B | 34 | Aug 11, 2021 | 13F-HR | changes · EDGAR ↗ |
| Q1 2021 | $1.2B | 35 | May 12, 2021 | 13F-HR | changes · EDGAR ↗ |
| Q4 2020 | $1.3B | 35 | Feb 11, 2021 | 13F-HR | changes · EDGAR ↗ |
| Q3 2020 | $1.1B | 31 | Nov 12, 2020 | 13F-HR | changes · EDGAR ↗ |
| Q2 2020 | $1.1B | 26 | Aug 4, 2020 | 13F-HR | changes · EDGAR ↗ |
| Q1 2020 | $882M | 25 | May 13, 2020 | 13F-HR | changes · EDGAR ↗ |
| Q4 2019 | $596M | 20 | Feb 13, 2020 | 13F-HR | changes · EDGAR ↗ |
| Q3 2019 | $320M | 19 | Nov 12, 2019 | 13F-HR | changes · EDGAR ↗ |
| Q2 2019 | $390M | 18 | Aug 14, 2019 | 13F-HR | changes · EDGAR ↗ |
| Q1 2019 | $415M | 17 | May 15, 2019 | 13F-HR | changes · EDGAR ↗ |
| Q4 2018 | $388M | 17 | Feb 11, 2019 | 13F-HR | changes · EDGAR ↗ |
13F filings are due up to 45 days after quarter end, so holdings shown here lag the fund’s current book. Source: original SEC filing on EDGAR ↗.