First Turn Management, LLC
Filing Date
Global Rank
#2,017
/ 8,633
▼ 2
Top Industry
Biotechnology
95.1%
3Y Alpha vs SPY
-3.8%
Period ended 51 days ago
Filed Aug 14, 2026 · 6d
11 quarters · since Dec 2023
Clone Performance
Feb 2024–Aug 2026 · vs SPYHypothetical growth of buying every stock this filer reported holding, rebalancing on each filing and indexed to the same start. Option positions cannot be bought this way and are left out.
Cloned portfolio
+48.4%
SPY
+54.3%
Annualised alpha
-1.8%
Max drawdown
−37.4%
Estimate. 13F holdings are quarter-lagged, so the clone rebalances about 45 days after each period end — when the filing becomes public — and it excludes option and short positions. Returns use comparable raw closes and exclude dividends; a captured split can shorten the simulated window. It tracks 100% of reported value on average across 11 quarters. Past performance does not predict future results.
Portfolio Concentration
31 tracked positions · as of Jun 30, 2026 · Δ vs Mar 31, 2026Top Position
8.4%
+1.0 pts
Top 5
31.4%
+0.8 pts
Top 10
53.8%
+0.5 pts
HHI
423
Diversified+15
Portfolio Trend
11 quarters · across all stocks
Sector Breakdown
As of Jun 30, 2026| Sector | % Portfolio | Value |
|---|---|---|
| Healthcare | 100.0% | $931,467,794 |
Last Quarter's Activity
Export CSVAdded To
Positions the filer increased
14 positions
| Ticker | Company | Δ Shares | Shares | Value | Open |
|---|---|---|---|---|---|
| VRDN | Viridian Therapeutics, Inc.\DE | +758,663 | 1,670,000 | $30,677,900 | |
| ERAS | Erasca, Inc. | +354,082 | 1,221,721 | $22,381,928 | |
| ELVN | Enliven Therapeutics, Inc. | +330,521 | 954,360 | $48,433,770 | |
| CYTK | Cytokinetics Inc | +243,712 | 527,412 | $44,930,228 | |
| ROIV | Roivant Sciences Ltd. | +140,948 | 1,331,066 | $47,106,425 | |
| CELC | Celcuity Inc. | +118,523 | 329,101 | $34,430,546 | |
| DNTH | Dianthus Therapeutics, Inc. /DE/ | +64,850 | 285,771 | $27,856,957 | |
| PRAX | Praxis Precision Medicines, Inc. | +41,087 | 83,528 | $27,964,339 | |
| AXSM | Axsome Therapeutics, Inc. | +29,643 | 218,415 | $53,461,439 | |
| ASND | Ascendis Pharma A/S | +28,577 | 104,877 | $27,972,793 | |
| NAMS | NewAmsterdam Pharma Co N.V. | +24,161 | 582,497 | $19,740,823 | |
| ABVX | Abivax S.A. | +24,020 | 489,889 | $65,282,608 | |
| INSM | INSMED Inc | +15,376 | 263,851 | $28,131,793 | |
| PVLA | Palvella Therapeutics, Inc. | +8,357 | 156,450 | $23,908,689 | |
| No positions match the current search. | |||||
Trimmed
Positions the filer reduced
11 positions
| Ticker | Company | Δ Shares | Shares | Value | Open |
|---|---|---|---|---|---|
| APGE | Apogee Therapeutics, Inc. | −374,948 | 138,822 | $18,425,844 | |
| COGT | Cogent Biosciences, Inc. | −345,058 | 602,281 | $23,308,274 | |
| NUVL | Nuvalent, Inc. | −344,046 | 26,298 | $0 | |
| XENE | Xenon Pharmaceuticals Inc. | −186,644 | 600,200 | $36,228,072 | |
| MIRM | Mirum Pharmaceuticals, Inc. | −182,413 | 218,051 | $25,527,230 | |
| SRRK | Scholar Rock Holding Corp | −175,163 | 271,227 | $14,917,485 | |
| KYMR | Kymera Therapeutics, Inc. | −152,139 | 102,533 | $11,757,459 | |
| BBIO | BridgeBio Pharma, Inc. | −62,354 | 633,364 | $47,172,950 | |
| RVMD | Revolution Medicines, Inc. | −53,069 | 415,307 | $77,778,694 | |
| UTHR | UNITED THERAPEUTICS Corp | −19,794 | 84,932 | $46,018,705 | |
| QURE | uniQure N.V. | −6,564 | 608,925 | $28,047,085 | |
| No positions match the current search. | |||||
New Positions
Positions the filer opened this quarter
5 positions
| Ticker | Company | Shares | Value | Open |
|---|---|---|---|---|
| PCVX | Vaxcyte, Inc. | 443,836 | $25,800,186 | |
| RYTM | Rhythm Pharmaceuticals, Inc. | 154,018 | $17,100,618 | |
| INBX | Inhibrx Biosciences, Inc. | 164,783 | $15,613,189 | |
| ORKA | Oruka Therapeutics, Inc. | 155,343 | $14,783,993 | |
| SION | Sionna Therapeutics, Inc. | 110,493 | $4,860,587 | |
| No positions match the current search. | ||||
Sold Out
Positions the filer fully exited
7 positions
| Ticker | Company | Shares | Value | Open |
|---|---|---|---|---|
| IDYA | IDEAYA Biosciences, Inc. | 873,838 | $29,116,282 | |
| FULC | Fulcrum Therapeutics, Inc. | 2,256,109 | $17,304,356 | |
| VERA | Vera Therapeutics, Inc. | 422,023 | $16,977,985 | |
| NTRA | Natera, Inc. | 81,077 | $16,214,589 | |
| OLMA | Olema Pharmaceuticals, Inc. | 768,662 | $11,460,750 | |
| MLTX | MoonLake Immunotherapeutics | 315,563 | $5,882,094 | |
| TERN | Terns Pharmaceuticals, Inc. | 326,694 | $0 | |
| No positions match the current search. | ||||
31 tracked positions ·
$931,467,794 total
· filing declares
31 positions · $934,715,611
· as of Jun 30, 2026
| Ticker | Company | Type | Shares | Value (USD) | % of Portfolio | History |
|---|---|---|---|---|---|---|
| RVMD |
Revolution Medicines, Inc.
Healthcare
|
Reduced | 415,307 | $77,778,694 | 8.35% | |
| ABVX |
Abivax S.A.
Healthcare
|
Added | 489,889 | $65,282,608 | 7.01% | |
| AXSM |
Axsome Therapeutics, Inc.
Healthcare
|
Added | 218,415 | $53,461,439 | 5.74% | |
| ELVN |
Enliven Therapeutics, Inc.
Healthcare
|
Added | 954,360 | $48,433,770 | 5.20% | |
| BBIO |
BridgeBio Pharma, Inc.
Healthcare
|
Reduced | 633,364 | $47,172,950 | 5.06% | |
| ROIV |
Roivant Sciences Ltd.
Healthcare
|
Added | 1,331,066 | $47,106,425 | 5.06% | |
| UTHR |
UNITED THERAPEUTICS Corp
Healthcare
|
Reduced | 84,932 | $46,018,705 | 4.94% | |
| CYTK |
Cytokinetics Inc
Healthcare
|
Added | 527,412 | $44,930,228 | 4.82% | |
| XENE |
Xenon Pharmaceuticals Inc.
Healthcare
|
Reduced | 600,200 | $36,228,072 | 3.89% | |
| CELC |
Celcuity Inc.
Healthcare
|
Added | 329,101 | $34,430,546 | 3.70% | |
| VRDN |
Viridian Therapeutics, Inc.\DE
Healthcare
|
Added | 1,670,000 | $30,677,900 | 3.29% | |
| INSM |
INSMED Inc
Healthcare
|
Added | 263,851 | $28,131,793 | 3.02% | |
| QURE |
uniQure N.V.
Healthcare
|
Reduced | 608,925 | $28,047,085 | 3.01% | |
| ASND |
Ascendis Pharma A/S
Healthcare
|
Added | 104,877 | $27,972,793 | 3.00% | |
| PRAX |
Praxis Precision Medicines, Inc.
Healthcare
|
Added | 83,528 | $27,964,339 | 3.00% | |
| DNTH |
Dianthus Therapeutics, Inc. /DE/
Healthcare
|
Added | 285,771 | $27,856,957 | 2.99% | |
| PCVX |
Vaxcyte, Inc.
Healthcare
|
NEW | 443,836 | $25,800,186 | 2.77% | |
| MIRM |
Mirum Pharmaceuticals, Inc.
Healthcare
|
Reduced | 218,051 | $25,527,230 | 2.74% | |
| PVLA |
Palvella Therapeutics, Inc.
Healthcare
|
Added | 156,450 | $23,908,689 | 2.57% | |
| COGT |
Cogent Biosciences, Inc.
Healthcare
|
Reduced | 602,281 | $23,308,274 | 2.50% | |
| ERAS |
Erasca, Inc.
Healthcare
|
Added | 1,221,721 | $22,381,928 | 2.40% | |
| ORIC |
Oric Pharmaceuticals, Inc.
Healthcare
|
Held | 2,017,284 | $21,847,185 | 2.35% | |
| NAMS |
NewAmsterdam Pharma Co N.V.
Healthcare
|
Added | 582,497 | $19,740,823 | 2.12% | |
| APGE |
Apogee Therapeutics, Inc.
Healthcare
|
Reduced | 138,822 | $18,425,844 | 1.98% | |
| RYTM |
Rhythm Pharmaceuticals, Inc.
Healthcare
|
NEW | 154,018 | $17,100,618 | 1.84% | |
| INBX |
Inhibrx Biosciences, Inc.
Healthcare
|
NEW | 164,783 | $15,613,189 | 1.68% | |
| SRRK |
Scholar Rock Holding Corp
Healthcare
|
Reduced | 271,227 | $14,917,485 | 1.60% | |
| ORKA |
Oruka Therapeutics, Inc.
Healthcare
|
NEW | 155,343 | $14,783,993 | 1.59% | |
| KYMR |
Kymera Therapeutics, Inc.
Healthcare
|
Reduced | 102,533 | $11,757,459 | 1.26% | |
| SION |
Sionna Therapeutics, Inc.
Healthcare
|
NEW | 110,493 | $4,860,587 | 0.52% | |
| NUVL |
Nuvalent, Inc.
Healthcare
|
Reduced | 26,298 | $0 | 0.00% |
Covers the securities this platform tracks: U.S.-listed common stock and the put/call positions reported on it. A 13F can also report security types outside that coverage — preferred shares, bonds, warrants, untracked share classes — so the filing's own declared total can exceed the figures above. The source filing is linked at the top of this table.