First Turn Management, LLC
CIK 1993440 · View on SEC EDGAR ↗
- Portfolio value
- $934.7M
- Positions
- 31
- As of
- June 30, 2026
#2,559 of 9,443 by 13F value · top 27.1%
Portfolio value QoQ: +4.4% 13F does not disclose cash
- Top 10 holdings weight
- 53.58%
- Top 25 holdings weight
- 93.03%
- Positions above 1%
- 29
- Effective number of positions
- 23.8
Based on 13F long-equity holdings only (cash, bonds, shorts not disclosed)
Turnover Q2 2026: 23.58% Est. buys $215,747,621 · sells $322,552,612
Median holding: 3.0 quarters Tracked Q4 2024–Q2 2026 · 41.9% still held
- New positions
- 6
- Increased
- 13
- Decreased
- 11
- Closed
- 8
On this page
- Performance vs S&P How this manager's 13F portfolio performed against the S&P 500.
- Sector breakdown How the portfolio splits across market sectors.
- Portfolio Every stock this institution reports holding, from its latest 13F.
- High-conviction bets The holdings this manager is most concentrated in.
- Biggest new bets Brand-new positions opened in the latest quarter.
- Top moves The biggest position increases and decreases this quarter.
- Exited positions Positions the manager fully sold out of last quarter.
Performance vs S&P 500
Annualized: +40.5% · S&P 500: +18.0%
Approximates a buy-and-hold portfolio built from quarterly SEC 13F snapshots. Excludes cash, short positions, options/derivatives, and non-13(f) securities — reflects the disclosed long-equity book only, not total fund AUM. SEC filing lag is up to 45 days; this is not a real-time-copyable timing.
Priceable coverage: 97.8% · Options excluded: 0.0%
Sector breakdown
Healthcare
97.0%
Other/Unmapped
3.0%
Full portfolio 31 positions
| Type | Streak | 8Q trend | |||||
|---|---|---|---|---|---|---|---|
| RVMD Revolution Medicines, Inc. - Common Stock | $77,778,695 | 8.32% | 415,307 | $32,229,129 | Down ×3 | ||
| ABVX Abivax SA - American Depositary Shares | $65,282,608 | 6.98% | 489,889 | $13,408,095 | Up ×3 | ||
| AXSM Axsome Therapeutics, Inc. - Common Stock | $53,461,440 | 5.72% | 218,415 | $21,555,197 | Up ×1 | ||
| ELVN Enliven Therapeutics, Inc. - Common Stock | $48,433,770 | 5.18% | 954,360 | $23,979,281 | Up ×1 | ||
| BBIO BridgeBio Pharma, Inc. - Common Stock | $47,172,951 | 5.05% | 633,364 | $-4,491,068 | Down ×1 | ||
| ROIV Roivant Sciences Ltd. - Common Shares | $47,106,426 | 5.04% | 1,331,066 | $14,140,157 | Up ×3 | ||
| UTHR United Therapeutics Corporation - Common Stock | $46,018,706 | 4.92% | 84,932 | $-16,081,717 | Down ×1 | ||
| CYTK Cytokinetics, Incorporated - Common Stock | $44,930,228 | 4.81% | 527,412 | $26,231,561 | Up ×1 | ||
| XENE Xenon Pharmaceuticals Inc. - Common Shares | $36,228,072 | 3.88% | 600,200 | $-9,526,907 | Down ×2 | ||
| CELC Celcuity Inc. - Common Stock | $34,430,547 | 3.68% | 329,101 | $10,395,174 | Up ×1 | ||
| VRDN Viridian Therapeutics, Inc. - Common Stock | $30,677,900 | 3.28% | 1,670,000 | $12,852,148 | Up ×2 | ||
| INSM Insmed Incorporated - Common Stock | $28,131,794 | 3.01% | 263,851 | $-12,498,838 | Up ×1 | ||
| QURE uniQure N.V. - Ordinary Shares | $28,047,086 | 3.00% | 608,925 | $17,983,841 | Down ×1 | ||
| Unknown issuer (CUSIP: K08588103) | $27,972,793 | 2.99% | 104,877 | Up ×1 | |||
| PRAX Praxis Precision Medicines, Inc. - Common Stock | $27,964,339 | 2.99% | 83,528 | $14,290,273 | Up ×2 | ||
| DNTH Dianthus Therapeutics, Inc. - Common Stock | $27,856,957 | 2.98% | 285,771 | $9,317,267 | Up ×1 | ||
| PCVX Vaxcyte, Inc. - Common Stock | $25,800,187 | 2.76% | 443,836 | ||||
| MIRM Mirum Pharmaceuticals, Inc. - common stock | $25,527,231 | 2.73% | 218,051 | $-11,467,633 | Down ×3 | ||
| PVLA Palvella Therapeutics, Inc. - Common Stock | $23,908,689 | 2.56% | 156,450 | $5,448,897 | Up ×1 | ||
| COGT Cogent Biosciences, Inc. - Common Stock | $23,308,275 | 2.49% | 602,281 | $-13,154,803 | Down ×1 | ||
| ERAS Erasca, Inc. - Common Stock | $22,381,929 | 2.39% | 1,221,721 | $8,343,530 | Up ×1 | ||
| ORIC Oric Pharmaceuticals, Inc. - Common Stock | $21,847,186 | 2.34% | 2,017,284 | $-3,711,802 | |||
| NAMS NewAmsterdam Pharma Company N.V. - Ordinary Shares | $19,740,823 | 2.11% | 582,497 | $1,868,488 | Up ×1 | ||
| APGE Apogee Therapeutics, Inc. - Common Stock | $18,425,844 | 1.97% | 138,822 | $-24,818,177 | Down ×1 | ||
| RYTM Rhythm Pharmaceuticals, Inc. - Common Stock | $17,100,619 | 1.83% | 154,018 | ||||
| INBX Inhibrx Biosciences, Inc. - Common Stock | $15,613,189 | 1.67% | 164,783 | Up ×1 | |||
| SRRK Scholar Rock Holding Corporation - Common Stock | $14,917,485 | 1.60% | 271,227 | $-7,027,047 | Down ×2 | ||
| ORKA Oruka Therapeutics, Inc. - Common Stock | $14,783,993 | 1.58% | 155,343 | Up ×1 | |||
| KYMR Kymera Therapeutics, Inc. - Common Stock | $11,757,459 | 1.26% | 102,533 | $-9,454,172 | Down ×1 | ||
| SION Sionna Therapeutics, Inc. - Common Stock | $4,860,587 | 0.52% | 110,493 | Up ×1 | |||
| NUVL Nuvalent, Inc. - Class A Common Stock | $3,247,803 | 0.35% | 26,298 | $-34,693,940 | Down ×1 | ||
| No matches | |||||||
Conviction holdings
Positions increased for 3+ consecutive quarters.
Share counts are as reported in 13F filings (not split-adjusted)
Biggest new bets
New positions opened this quarter, largest first.
Top movers (QoQ)
| Security | Action | Shares Δ | Value Δ |
|---|---|---|---|
| RVMD | Trimmed | -53K | +$32.2M |
| CYTK | Bought more | +244K | +$26.2M |
| APGE | Trimmed | -375K | -$24.8M |
| ELVN | Bought more | +331K | +$24.0M |
| AXSM | Bought more | +30K | +$21.6M |
| QURE | Trimmed | -7K | +$18.0M |
| UTHR | Trimmed | -20K | -$16.1M |
| PRAX | Bought more | +41K | +$14.3M |
| ROIV | Bought more | +141K | +$14.1M |
| ABVX | Bought more | +24K | +$13.4M |
1 position hidden (data completeness check)
Exited positions
Includes corporate events (mergers, delistings) — not all exits are sells
Closed positions reflect 13F reporting changes; for index managers these are often mechanical (delisting, M&A, index rebalancing), not active decisions.
| Security | Quarter | Shares before | Value before | Price since exit |
|---|---|---|---|---|
| MRUS | Dec. 31, 2025 | 372,022 | $35,025,871 | No longer tracked |
| VRNA | Sept. 30, 2025 | 309,988 | $29,318,665 | No longer tracked |
| IDYA | June 30, 2026 | 873,838 | $29,116,282 | 4.3% |
| GH | March 31, 2026 | 271,685 | $27,749,906 | 74.3% |
| ACLX | Dec. 31, 2025 | 313,733 | $25,757,479 | No longer tracked |
| NBIX | Dec. 31, 2025 | 181,897 | $25,534,701 | 9.6% |
| ITCI | March 31, 2025 | 294,414 | $24,589,457 | No longer tracked |
| CRNX | March 31, 2025 | 453,376 | $23,181,115 | 152.7% |
| ARGX | March 31, 2026 | 23,256 | $19,557,133 | 39.6% |
| AKRO | Dec. 31, 2025 | 397,010 | $18,850,035 | No longer tracked |
| ISRG | Sept. 30, 2025 | 32,305 | $17,554,860 | -10.0% |
| ASND | June 30, 2026 | 76,300 | $17,452,099 | -4.0% |
| FULC | June 30, 2026 | 2,256,109 | $17,304,356 | 7.2% |
| TERN | June 30, 2026 | 326,694 | $17,223,308 | No longer tracked |
| VERA | June 30, 2026 | 422,023 | $16,977,985 | -23.1% |
| NTRA | June 30, 2026 | 81,077 | $16,214,589 | 16.1% |
| PODD | Sept. 30, 2025 | 51,408 | $16,151,365 | -50.7% |
| TGTX | Sept. 30, 2025 | 447,884 | $16,119,345 | 41.4% |
| ELVN | Dec. 31, 2025 | 783,411 | $16,036,423 | 282.9% |
| GH | Sept. 30, 2025 | 302,307 | $15,732,056 | 157.7% |
| RYTM | March 31, 2026 | 146,303 | $15,660,273 | 35.1% |
| JANX | Dec. 31, 2025 | 639,699 | $15,634,244 | 25.4% |
| BSX | Sept. 30, 2025 | 138,834 | $14,912,160 | -47.1% |
| GERN | March 31, 2025 | 3,893,327 | $13,782,378 | -0.9% |
| RCUS | March 31, 2026 | 565,142 | $13,467,334 | 43.0% |
| SWTX | June 30, 2025 | 304,076 | $13,418,874 | No longer tracked |
| GKOS | June 30, 2025 | 136,241 | $13,408,839 | 81.4% |
| EXAS | June 30, 2025 | 300,909 | $13,026,351 | No longer tracked |
| IRON | March 31, 2026 | 153,206 | $12,166,088 | 26.5% |
| DAWN | March 31, 2025 | 947,878 | $12,009,614 | No longer tracked |
| ADMA | Dec. 31, 2025 | 808,673 | $11,855,146 | -45.4% |
| ACLX | March 31, 2025 | 152,356 | $11,684,182 | No longer tracked |
| OLMA | June 30, 2026 | 768,662 | $11,460,750 | -11.3% |
| RDNT | Sept. 30, 2025 | 197,759 | $11,254,465 | -1.3% |
| PCVX | June 30, 2025 | 276,905 | $10,455,933 | 91.4% |
| BHVN | March 31, 2025 | 262,442 | $9,802,209 | -40.2% |
| HQY | Sept. 30, 2025 | 80,880 | $8,472,989 | 9.3% |
| CRMD | March 31, 2025 | 1,021,421 | $8,273,510 | 33.9% |
| BPMC | June 30, 2025 | 92,033 | $8,145,841 | No longer tracked |
| SPRY | Sept. 30, 2025 | 455,953 | $7,956,380 | -34.9% |
| HROW | Dec. 31, 2025 | 160,234 | $7,720,074 | -15.0% |
| SLNO | Sept. 30, 2025 | 86,332 | $7,232,895 | No longer tracked |
| MLTX | June 30, 2025 | 179,196 | $7,001,188 | -65.2% |
| BCAX | March 31, 2025 | 346,170 | $6,030,281 | 100.8% |
| MLTX | June 30, 2026 | 315,563 | $5,882,094 | -15.6% |
| SNDX | March 31, 2025 | 441,587 | $5,837,780 | 67.2% |
| ALNY | Sept. 30, 2025 | 17,879 | $5,830,163 | -47.3% |
| PRAX | June 30, 2025 | 71,775 | $2,718,119 | 778.4% |
| KALV | Sept. 30, 2025 | 214,138 | $2,420,830 | No longer tracked |
| BBNX | Sept. 30, 2025 | 157,194 | $2,288,745 | 2.4% |