First Turn Management, LLC
13F Reported Value
ⓘ$895.1M
Holdings
33
Latest Filing
2026-03-31
Filing Quarter
Q1 2026
Portfolio Overview
First Turn Management, LLC disclosed 33 positions worth $895.1M in its Form 13F-HR for Q1 2026, led by $UTHR (UNITED THERAPEUTICS Corp) at 6.9% of the equity portfolio, followed by $ABVX and $BBIO. During the quarter the fund opened 5 new positions and exited 5 — including a new stake in $ELVN and a full exit from $GH. The portfolio is most concentrated in Healthcare (100.0% of disclosed assets). All figures are sourced directly from First Turn Management, LLC’s Form 13F-HR filing with the SEC under CIK 1993440.
AI Fund Analysis
ConcentratingSector Allocation
AUM History
Top Equity Holdings by Value
Quarterly Activity — Q1 2026
Click any card to unlockTop Holdings
- 80.1#46
Quality
$62.1M104,726 sh - —
Quality
$51.9M465,869 sh - 31.7#2,301
Quality
$51.7M695,718 sh - 12.9
Quality
$45.8M786,844 sh - —
Quality
$45.5M468,376 sh - —
Quality
$43.2M513,770 sh - 29.4
Quality
$40.6M248,475 sh - —
Quality
$37.9M370,344 sh - 32.7
Quality
$37.0M400,464 sh - —
Quality
$36.5M947,339 sh
| Company | Quality | Value | Shares |
|---|---|---|---|
 UNITED THERAPEUTICS Corp$UTHR | 80.1#46 | $62.1M | 104,726 |
 Abivax S.A.$ABVX | — | $51.9M | 465,869 |
 BridgeBio Pharma, Inc.$BBIO | 31.7#2,301 | $51.7M | 695,718 |
 Xenon Pharmaceuticals Inc.$XENE | 12.9 | $45.8M | 786,844 |
 Revolution Medicines, Inc.$RVMD | — | $45.5M | 468,376 |
 Apogee Therapeutics, Inc.$APGE | — | $43.2M | 513,770 |
 INSMED Inc$INSM | 29.4 | $40.6M | 248,475 |
 Nuvalent, Inc.$NUVL | — | $37.9M | 370,344 |
 Mirum Pharmaceuticals, Inc.$MIRM | 32.7 | $37.0M | 400,464 |
 Cogent Biosciences, Inc.$COGT | — | $36.5M | 947,339 |
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32-signal composite ranking on each of First Turn Management, LLC's 33 positions.
Showing top 10 of 33 holdings.
Sector Allocation
Healthcare
$895.1M
Full Holdings — First Turn Management, LLC (Q1 2026)
All 33 disclosed positions from the latest Form 13F-HR, with quarter-over-quarter share changes and 13F Pro quality scores. Sourced from SEC EDGAR.
| # | Ticker | Company | Value | Weight | QoQ | Quality |
|---|---|---|---|---|---|---|
| 1 | $UTHR | UNITED THERAPEUTICS Corp | $62.1M | 6.9% | +65% | 80.1 |
| 2 | $ABVX | Abivax S.A. | $51.9M | 5.8% | +22% | — |
| 3 | $BBIO | BridgeBio Pharma, Inc. | $51.7M | 5.8% | +17% | 31.7 |
| 4 | $XENE | Xenon Pharmaceuticals Inc. | $45.8M | 5.1% | -2% | 12.9 |
| 5 | $RVMD | Revolution Medicines, Inc. | $45.5M | 5.1% | -27% | — |
| 6 | $APGE | Apogee Therapeutics, Inc. | $43.2M | 4.8% | +8% | — |
| 7 | $INSM | INSMED Inc | $40.6M | 4.5% | -6% | 29.4 |
| 8 | $NUVL | Nuvalent, Inc. | $37.9M | 4.2% | +0% | — |
| 9 | $MIRM | Mirum Pharmaceuticals, Inc. | $37.0M | 4.1% | -17% | 32.7 |
| 10 | $COGT | Cogent Biosciences, Inc. | $36.5M | 4.1% | +15% | — |
| 11 |  $ROIV | Roivant Sciences Ltd. | $33.0M | 3.7% | +0% | — |
| 12 |  $AXSM | Axsome Therapeutics, Inc. | $31.9M | 3.6% | -9% | 36.6 |
| 13 |  $IDYA | IDEAYA Biosciences, Inc. | $29.1M | 3.3% | +21% | 10.5 |
| 14 |  $ORIC | Oric Pharmaceuticals, Inc. | $25.6M | 2.9% | +0% | — |
| 15 |  $ELVN | Enliven Therapeutics, Inc. | $24.5M | 2.7% | NEW | — |
| 16 |  $CELC | Celcuity Inc. | $24.0M | 2.7% | NEW | — |
| 17 |  $SRRK | Scholar Rock Holding Corp | $21.9M | 2.5% | -3% | — |
| 18 |  $KYMR | Kymera Therapeutics, Inc. | $21.2M | 2.4% | +23% | 29.2 |
| 19 |  $CYTK | CYTOKINETICS INC | $18.7M | 2.1% | -13% | 28 |
| 20 |  $DNTH | Dianthus Therapeutics, Inc. /DE/ | $18.5M | 2.1% | NEW | 26.8 |
| 21 |  $PVLA | PALVELLA THERAPEUTICS, INC. | $18.5M | 2.1% | NEW | — |
| 22 |  $NAMS | NewAmsterdam Pharma Co N.V. | $17.9M | 2.0% | -38% | — |
| 23 |  $VRDN | Viridian Therapeutics, Inc.\DE | $17.8M | 2.0% | +32% | 30.5 |
| 24 |  $ASND | Ascendis Pharma A/S | $17.5M | 1.9% | -42% | 41.5 |
| 25 |  $FULC | Fulcrum Therapeutics, Inc. | $17.3M | 1.9% | +19% | — |
| 26 |  $TERN | Terns Pharmaceuticals, Inc. | $17.2M | 1.9% | -63% | — |
| 27 |  $VERA | Vera Therapeutics, Inc. | $17.0M | 1.9% | -30% | — |
| 28 |  $NTRA | Natera, Inc. | $16.2M | 1.8% | +0% | 46.4 |
| 29 |  $ERAS | Erasca, Inc. | $14.0M | 1.6% | NEW | — |
| 30 |  $PRAX | Praxis Precision Medicines, Inc. | $13.7M | 1.5% | +19% | — |
| 31 |  $OLMA | Olema Pharmaceuticals, Inc. | $11.5M | 1.3% | +24% | — |
| 32 |  $QURE | uniQure N.V. | $10.1M | 1.1% | +91% | — |
| 33 |  $MLTX | MoonLake Immunotherapeutics | $5.9M | 0.7% | +20% | — |
New Positions (5)
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