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First Turn Management, LLC

Q1 2026 · Filed 2026-05-15
Market Value
$803M
+4.4%
Holdings
34
-3
New Purchases
5
Added To
15
Closed
5
Reduced
9
Top 10 Concentration
55.0%
Turnover
29.4%

Top Buys (by % of Portfolio)

SymbolCur %Prior %Chg %Value
UTHR 7.73% 4.03% +3.71% $62M
ELVN 3.05% 0.00% +3.05% $24M
CELC 2.99% 0.00% +2.99% $24M
DNTH 2.31% 0.00% +2.31% $19M
PVLA 2.30% 0.00% +2.30% $18M
ERAS 1.75% 0.00% +1.75% $14M
ORIC 3.18% 2.14% +1.05% $26M
XENE 5.70% 4.66% +1.04% $46M
ROIV 4.11% 3.35% +0.76% $33M
COGT 4.54% 3.81% +0.74% $36M
KYMR 2.64% 2.09% +0.55% $21M
BBIO 6.44% 5.92% +0.51% $52M
IDYA 3.63% 3.25% +0.38% $29M
MLTX 0.73% 0.45% +0.28% $6M
QURE 1.25% 1.00% +0.25% $10M

Top Sells (by % of Portfolio)

SymbolCur %Prior %Chg %Value
GH 0.00% 3.61% -3.61% $0
ARGX 0.00% 2.54% -2.54% $0
TERN 2.15% 4.58% -2.43% $17M
RYTM 0.00% 2.04% -2.04% $0
VERA 2.11% 3.96% -1.85% $17M
RCUS 0.00% 1.75% -1.75% $0
IRON 0.00% 1.58% -1.58% $0
AXSM 3.97% 4.91% -0.94% $32M
RVMD 5.67% 6.61% -0.94% $46M
INSM 5.06% 5.98% -0.92% $41M
FULC 2.16% 2.78% -0.63% $17M
OLMA 1.43% 2.01% -0.58% $11M
VRDN 2.22% 2.79% -0.57% $18M
NTRA 2.02% 2.41% -0.39% $16M
CYTK 2.33% 2.69% -0.36% $19M

Sector Allocation Over Time

Market Cap Concentration

TierHoldingsValueWeight
Large Cap 9 $281M 35.0%
Mid Cap 18 $415M 51.7%
Small Cap 7 $107M 13.3%

Portfolio Analytics

Avg Market Cap
$9.4B
Median Market Cap
$5.3B
Avg P/E
31.7
Median P/E
31.7
Avg Dividend Yield
—%
Avg Beta
0.88
# Stocks
34
# ETFs / Funds
0

Top Holdings (34 total)

# Symbol % Port Shares Value Avg Price Q/Q Value Chg Share Chg Chg % Status
1 UTHR 7.73% 104,726 $62M $592.98 $31M +41,146 +64.7%
2 ABVX 6.46% 465,869 $52M $111.35 $463K +84,636 +22.2%
3 BBIO 6.44% 695,718 $52M $74.26 $6M +100,245 +16.8%
4 XENE 5.70% 786,844 $46M $58.15 $10M -12,899 -1.6%
5 RVMD 5.67% 468,376 $46M $97.25 -$5M -170,009 -26.6%
6 INSM 5.06% 248,475 $41M $163.52 -$5M -15,818 -6.0%
7 NUVL 4.73% 370,344 $38M $102.45 $855K +1,647 +0.5%
8 MIRM 4.61% 400,464 $37M $92.38 -$1M -81,100 -16.8%
9 COGT 4.54% 947,339 $36M $38.49 $7M +123,056 +14.9%
10 ROIV 4.11% 1,190,118 $33M $27.70 $7M +3,301 +0.3%
11 AXSM 3.97% 188,772 $32M $169.02 -$6M -18,149 -8.8%
12 IDYA 3.63% 873,838 $29M $33.32 $4M +150,185 +20.8%
13 ORIC 3.18% 2,017,284 $26M $12.67 $9M +6,977 +0.3%
14 ELVN 3.05% 623,839 $24M $39.20 +623,839 NEW
15 CELC 2.99% 210,578 $24M $114.14 +210,578 NEW
16 SRRK 2.73% 446,390 $22M $49.16 $2M -13,337 -2.9%
17 KYMR 2.64% 254,672 $21M $83.29 $5M +48,227 +23.4%
18 CYTK 2.33% 283,700 $19M $65.91 -$2M -41,968 -12.9%
19 DNTH 2.31% 220,921 $19M $83.92 +220,921 NEW
20 PVLA 2.30% 148,093 $18M $124.65 +148,093 NEW
21 VRDN 2.22% 911,337 $18M $19.56 -$4M +220,809 +32.0%
22 FULC 2.16% 2,256,109 $17M $7.67 -$4M +363,426 +19.2%
23 TERN 2.15% 326,694 $17M $52.72 -$18M -545,355 -62.5%
24 VERA 2.11% 422,023 $17M $40.23 -$13M -179,751 -29.9%
25 NTRA 2.02% 81,077 $16M $199.99 -$2M +202 +0.2%
26 ERAS 1.75% 867,639 $14M $16.18 +867,639 NEW
27 OLMA 1.43% 768,662 $11M $14.91 -$4M +150,948 +24.4%
28 QURE 1.25% 615,489 $10M $16.35 $2M +293,834 +91.3%
29 MLTX 0.73% 315,563 $6M $18.64 $2M +52,920 +20.1%
30 ARGX —% -$20M -23,256 -100.0% SOLD
31 RCUS —% -$13M -565,142 -100.0% SOLD
32 IRON —% -$12M -153,206 -100.0% SOLD
33 RYTM —% -$16M -146,303 -100.0% SOLD
34 GH —% -$28M -271,685 -100.0% SOLD

New Positions

SymbolValue% Port
ELVN $24M 3.05%
CELC $24M 2.99%
DNTH $19M 2.31%
PVLA $18M 2.30%
ERAS $14M 1.75%

Sold Out Positions

SymbolValue% Port
RCUS —%
GH —%
ARGX —%
IRON —%
RYTM —%
View SEC EDGAR Filings for First Turn Management, LLC →

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For informational purposes only. Not investment advice. Data sourced from SEC filings. Privacy Terms