Who owns ERAS (ERAS)
Which tracked institutional funds hold ERAS, how they are positioned, and who is buying versus exiting — from SEC Form 13F-HR filings. See ERAS company fundamentals →
Ownership as of the 2026-Q1 13F filings. 13F is disclosed up to 45 days after quarter-end, so the most recent quarter fills in over the following weeks.
How the tape is positioned
The tracked-fund tape on ERAS is one-sided between 2025-Q4 and 2026-Q1: 140 added or opened and 9 trimmed or exited — on balance accumulating.
A prompt to read the filings, not a verdict. 13F is a quarter-end snapshot disclosed up to 45 days late; a fund adds or exits for mandate, benchmark, and timing reasons that have nothing to do with a view on the stock. This is a starting question, not a signal to trade.
Conviction spread
ERAS’s largest tracked holder by dollar value, Frazier Life Sciences Management, L.P., sizes it at 10.3% of its own reported 13F book, while the median holder sizes it at 0.0% of theirs — a 10.3pp conviction gap — its largest holder concentrates the name more heavily than the typical one.
Book-share is each fund’s reported value in ERAS divided by its whole reported 13F book, so it is comparable across funds of different sizes and is unaffected by stock splits. A higher share means a fund has committed more of its book to the name — a starting question about conviction, not a verdict or a signal to trade.
Institutional & insider positioning
Between 2025-Q4 and 2026-Q1, across 224 tracked filers holding ERAS, 171 increased or opened the position and 67 reduced or closed it; over the same quarter, open-market insider Form 4 buying and selling roughly offset.
This fuses two public signals for the same quarter — how tracked institutions changed their positions and whether insiders bought or sold in the open market. It describes what was filed; it is a starting question, not a verdict or a signal to trade.
New buyers & exits
Funds opening or closing a position in ERAS between the 2025-Q4 and 2026-Q1 13F filings, and the largest changes among funds holding it in both. New buyers and exits are counted on fund presence (split-invariant); adds and trims are measured on reported value.
New buyers 56
- VANGUARD CAPITAL MANAGEMENT LLC$182M
- Cormorant Asset Management, LP$94M
- JANUS HENDERSON GROUP PLC$60M
- Commodore Capital LP$51M
- ADAGE CAPITAL PARTNERS GP, L.L.C.$34M
- VANGUARD PORTFOLIO MANAGEMENT LLC$29M
Full exits 7
- VANGUARD GROUP INC$42M
- Soleus Capital Management, L.P.$8M
- Ikarian Capital, LLC$3M
- HRT FINANCIAL LP$2M
- DAFNA Capital Management LLC$947K
- BOOTHBAY FUND MANAGEMENT, LLC$701K
Largest adds
- T. Rowe Price Investment Management, Inc.$326M
- Frazier Life Sciences Management, L.P.$315M
- RTW INVESTMENTS, LP$261M
- Venrock Adviser, LLC$199M
- Vivo Capital, LLC$162M
- Siren, L.L.C.$149M
Largest trims
- Spruce Street Capital LP$8M
- BARCLAYS PLC$769K
Institutional holders
One row per tracked fund, largest reported value first. “% of value” is the fund’s share of this security’s tracked institutional value — not of shares outstanding. Rows marked stale are from an earlier filing than the security’s latest quarter — that fund is absent from the newest snapshot (position exited, or reported under a different name).
| Fund | Shares | Reported value | % of value | Quarter |
|---|---|---|---|---|
| Frazier Life Sciences Management, L.P. added | 24,675,188 | $399M | 9.5% | 2026-Q1 |
| T. Rowe Price Investment Management, Inc. added | 21,259,646 | $344M | 8.2% | 2026-Q1 |
| Venrock Adviser, LLC trimmed | 16,382,812 | $265M | 6.3% | 2026-Q1 |
| RTW INVESTMENTS, LP added | 16,157,175 | $261M | 6.2% | 2026-Q1 |
| Vivo Capital, LLC added | 12,151,480 | $197M | 4.7% | 2026-Q1 |
| VANGUARD CAPITAL MANAGEMENT LLC new | 11,249,738 | $182M | 4.3% | 2026-Q1 |
| Siren, L.L.C. added | 11,244,246 | $182M | 4.3% | 2026-Q1 |
| Logos Global Management LP trimmed | 11,150,000 | $180M | 4.3% | 2026-Q1 |
| Paradigm Biocapital Advisors LP trimmed | 10,392,702 | $168M | 4.0% | 2026-Q1 |
| STATE STREET CORP added | 9,300,084 | $150M | 3.6% | 2026-Q1 |
| BlackRock, Inc. trimmed | 8,882,117 | $144M | 3.4% | 2026-Q1 |
| ARCH Venture Management, LLC trimmed | 7,091,557 | $115M | 2.7% | 2026-Q1 |
| GEODE CAPITAL MANAGEMENT, LLC added | 5,996,149 | $97M | 2.3% | 2026-Q1 |
| Cormorant Asset Management, LP trimmed | 5,800,000 | $94M | 2.2% | 2026-Q1 |
| Affinity Asset Advisors, LLC added | 5,350,000 | $87M | 2.1% | 2026-Q1 |
| BALYASNY ASSET MANAGEMENT L.P. added | 5,143,985 | $83M | 2.0% | 2026-Q1 |
| GOLDMAN SACHS GROUP INC added | 4,875,186 | $79M | 1.9% | 2026-Q1 |
| JANUS HENDERSON GROUP PLC added | 3,710,966 | $60M | 1.4% | 2026-Q1 |
| 5AM Venture Management, LLC trimmed | 3,485,971 | $56M | 1.3% | 2026-Q1 |
| SUVRETTA CAPITAL MANAGEMENT, LLC trimmed | 3,434,967 | $56M | 1.3% | 2026-Q1 |
| Commodore Capital LP new | 3,175,000 | $51M | 1.2% | 2026-Q1 |
| BANK OF AMERICA CORP /DE/ added | 3,055,897 | $49M | 1.2% | 2026-Q1 |
| a16z Capital Management, L.L.C. | 2,862,500 | $46M | 1.1% | 2026-Q1 |
| Woodline Partners LP added | 2,831,538 | $46M | 1.1% | 2026-Q1 |
| ADAGE CAPITAL PARTNERS GP, L.L.C. added | 2,100,000 | $34M | 0.8% | 2026-Q1 |
| CHARLES SCHWAB INVESTMENT MANAGEMENT INC added | 1,898,224 | $31M | 0.7% | 2026-Q1 |
| SILVERARC CAPITAL MANAGEMENT, LLC added | 1,851,812 | $30M | 0.7% | 2026-Q1 |
| UBS Group AG added | 1,848,580 | $30M | 0.7% | 2026-Q1 |
| PRICE T ROWE ASSOCIATES INC /MD/ added | 1,815,340 | $29M | 0.7% | 2026-Q1 |
| DIMENSIONAL FUND ADVISORS LP added | 1,786,389 | $29M | 0.7% | 2026-Q1 |
| VANGUARD PORTFOLIO MANAGEMENT LLC new | 1,773,757 | $29M | 0.7% | 2026-Q1 |
| NORTHERN TRUST CORP added | 1,701,623 | $28M | 0.7% | 2026-Q1 |
| VICTORY CAPITAL MANAGEMENT INC added | 1,654,497 | $27M | 0.6% | 2026-Q1 |
| VANGUARD FIDUCIARY TRUST CO new | 1,537,915 | $25M | 0.6% | 2026-Q1 |
| FMR LLC added | 1,486,959 | $24M | 0.6% | 2026-Q1 |
| RENAISSANCE TECHNOLOGIES LLC added | 1,398,869 | $23M | 0.5% | 2026-Q1 |
| D. E. Shaw & Co., Inc. added | 1,219,534 | $20M | 0.5% | 2026-Q1 |
| Rock Springs Capital Management LP added | 1,103,469 | $18M | 0.4% | 2026-Q1 |
| BNP PARIBAS FINANCIAL MARKETS added | 1,087,301 | $18M | 0.4% | 2026-Q1 |
| MORGAN STANLEY added | 989,210 | $16M | 0.4% | 2026-Q1 |
| EcoR1 Capital, LLC added | 900,000 | $15M | 0.3% | 2026-Q1 |
| First Turn Management, LLC new | 867,639 | $14M | 0.3% | 2026-Q1 |
| JPMORGAN CHASE & CO trimmed | 924,405 | $14M | 0.3% | 2026-Q1 |
| Holocene Advisors, LP new | 760,722 | $12M | 0.3% | 2026-Q1 |
| Integral Health Asset Management, LLC new | 700,000 | $11M | 0.3% | 2026-Q1 |
| Point72 Asset Management, L.P. added | 693,309 | $11M | 0.3% | 2026-Q1 |
| AQR CAPITAL MANAGEMENT LLC added | 675,166 | $11M | 0.3% | 2026-Q1 |
| AMERIPRISE FINANCIAL INC added | 670,597 | $11M | 0.3% | 2026-Q1 |
| Invesco Ltd. added | 667,712 | $11M | 0.3% | 2026-Q1 |
| ALLIANCEBERNSTEIN L.P. added | 2,644,920 | $10M | 0.2% | 2026-Q1 |
| MILLENNIUM MANAGEMENT LLC trimmed | 575,996 | $9M | 0.2% | 2026-Q1 |
| ExodusPoint Capital Management, LP trimmed | 575,715 | $9M | 0.2% | 2026-Q1 |
| WELLINGTON MANAGEMENT GROUP LLP added | 564,359 | $9M | 0.2% | 2026-Q1 |
| Bank of New York Mellon Corp added | 559,629 | $9M | 0.2% | 2026-Q1 |
| Nuveen, LLC added | 543,021 | $9M | 0.2% | 2026-Q1 |
| Ensign Peak Advisors, Inc added | 500,723 | $8M | 0.2% | 2026-Q1 |
| CITADEL ADVISORS LLC trimmed | 498,381 | $8M | 0.2% | 2026-Q1 |
| JANE STREET GROUP, LLC trimmed | 455,019 | $7M | 0.2% | 2026-Q1 |
| MARSHALL WACE, LLP added | 426,526 | $7M | 0.2% | 2026-Q1 |
| Spruce Street Capital LP trimmed | 422,543 | $7M | 0.2% | 2026-Q1 |
| Creative Planning added | 418,834 | $7M | 0.2% | 2026-Q1 |
| PRUDENTIAL FINANCIAL INC added | 416,715 | $7M | 0.2% | 2026-Q1 |
| Parkman Healthcare Partners LLC new | 406,702 | $7M | 0.2% | 2026-Q1 |
| TD Asset Management Inc added | 394,260 | $6M | 0.2% | 2026-Q1 |
| AMERICAN CENTURY COMPANIES INC added | 380,977 | $6M | 0.1% | 2026-Q1 |
| Polymer Capital Management (HK) LTD new | 357,670 | $6M | 0.1% | 2026-Q1 |
| ACUTA CAPITAL PARTNERS, LLC new | 354,575 | $6M | 0.1% | 2026-Q1 |
| Atom Investors LP trimmed | 345,587 | $6M | 0.1% | 2026-Q1 |
| KVP Capital Advisors, LP new | 340,000 | $6M | 0.1% | 2026-Q1 |
| Swiss National Bank added | 336,800 | $5M | 0.1% | 2026-Q1 |
| Trexquant Investment LP added | 301,066 | $5M | 0.1% | 2026-Q1 |
| UBS AM, a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC trimmed | 259,007 | $4M | 0.1% | 2026-Q1 |
| VOYA INVESTMENT MANAGEMENT LLC added | 253,554 | $4M | 0.1% | 2026-Q1 |
| SIMPLEX TRADING, LLC trimmed | 252,747 | $4M | 0.1% | 2026-Q1 |
| Rafferty Asset Management, LLC added | 251,963 | $4M | 0.1% | 2026-Q1 |
| RHUMBLINE ADVISERS added | 242,636 | $4M | 0.1% | 2026-Q1 |
| STEMPOINT CAPITAL LP new | 239,861 | $4M | 0.1% | 2026-Q1 |
| FRED ALGER MANAGEMENT, LLC added | 236,824 | $4M | 0.1% | 2026-Q1 |
| Tidal Investments LLC new | 226,877 | $4M | 0.1% | 2026-Q1 |
| Tema ETFs LLC new | 226,877 | $4M | 0.1% | 2026-Q1 |
| Seven Fleet Capital Management LP new | 222,468 | $4M | 0.1% | 2026-Q1 |
| MANUFACTURERS LIFE INSURANCE COMPANY, THE added | 216,614 | $4M | 0.1% | 2026-Q1 |
| CALIFORNIA STATE TEACHERS RETIREMENT SYSTEM added | 204,449 | $3M | 0.1% | 2026-Q1 |
| TANG CAPITAL MANAGEMENT LLC trimmed | 200,000 | $3M | 0.1% | 2026-Q1 |
| Pictet Asset Management Holding SA added | 208,273 | $3M | 0.1% | 2026-Q1 |
| HighVista Strategies LLC added | 181,069 | $3M | 0.1% | 2026-Q1 |
| Cinctive Capital Management LP new | 171,920 | $3M | 0.1% | 2026-Q1 |
| Longaeva Partners L.P. new | 171,233 | $3M | 0.1% | 2026-Q1 |
| DEUTSCHE BANK AG\ added | 163,326 | $3M | 0.1% | 2026-Q1 |
| NATIXIS new | 163,192 | $3M | 0.1% | 2026-Q1 |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP trimmed | 153,647 | $2M | 0.1% | 2026-Q1 |
| XTX Topco Ltd added | 147,618 | $2M | 0.1% | 2026-Q1 |
| Informed Momentum Co LLC new | 137,925 | $2M | 0.1% | 2026-Q1 |
| Legal & General Group Plc added | 133,444 | $2M | 0.1% | 2026-Q1 |
| Vanguard Global Advisers, LLC new | 113,645 | $2M | 0.0% | 2026-Q1 |
| VANGUARD GROUP INC trimmed | 11,376,093 | $42M | 1.0% | 2025-Q4 stale |
| Soleus Capital Management, L.P. | 2,162,162 | $8M | 0.2% | 2025-Q4 stale |
| Ikarian Capital, LLC new | 735,396 | $3M | 0.1% | 2025-Q4 stale |
| Sofinnova Investments, Inc. added | 1,877,085 | $3M | 0.1% | 2025-Q1 stale |
| HRT FINANCIAL LP added | 536,909 | $2M | 0.0% | 2025-Q4 stale |
Ownership over time
Tracked institutional holder count and total shares held by filing quarter (independent scales). The curated-era tail and any mid-ingest latest quarter are handled honestly — a partial quarter is not drawn as a collapse.
Reading this table
Funds hold the same stock for different reasons — an index fund “holds” almost everything, an active manager sizes a name to a mandate and a benchmark, and each fund entered at its own price and time. Because 13F is filed up to 45 days after quarter-end, every row is a backward-looking snapshot; a manager may have traded since. Share-class siblings (a company’s A and C shares) are rolled up to one line so a dual-class name is never double-counted. Compare like-for-like. A large holder is not an endorsement, and a fund exiting is not a warning — this is a starting question, not a verdict.
About 13F filings
A Form 13F is a quarterly disclosure that institutional investment managers with over $100 million in US-listed equities must file with the SEC. In plain English: it is a snapshot of the long stock positions a fund held at the end of a quarter. It covers long US-listed equities only — not short positions, options, cash, or private holdings — and the funds shown are the large sample we track, not the complete 13F universe.