How is hedge fund similarity measured?

Similarity is computed from each fund's top conviction holdings in their latest 13F filing. Funds are scored by the overlap of distinctive shared positions (the mega-caps that nearly every fund owns are excluded), so the ranking reflects genuinely shared strategy rather than common index exposure.

Hedge Funds Similar to First Turn

13F Portfolio OverlapQ2 2026First Turn portfolio →

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Most similar hedge funds by 13F overlap

First Turn Management, LLC is an institutional investor managing $935M across 31 U.S. equity positions as of Q2 2026. Based on the overlap of conviction holdings in their latest 13F filings, the hedge funds with portfolios most similar to First Turn are Affinity Asset Advisors, Patient Square, StemPoint, with shared positions in $ROIV, $XENE, $INSM, $PRAX, $ERAS, $CYTK. The full ranking of 25 similar funds is below.

#1Affinity Asset Advisors, LLCActive

Substantial overlap · 15 shared positions

$ROIV $XENE $INSM $PRAX $ERAS $CYTK

$2.2B

113 positions

#2Patient Square Capital LPActive

Substantial overlap · 10 shared positions

$RVMD $ROIV $ABVX $UTHR $MIRM $COGT

$646M

23 positions

#3StemPoint Capital LPPassive

Substantial overlap · 12 shared positions

$ABVX $RVMD $DNTH $ELVN $ERAS $PRAX

$581M

84 positions

#4Artia Global Partners LPActive

Substantial overlap · 14 shared positions

$ABVX $RVMD $INSM $DNTH $NAMS $CELC

$542M

48 positions

#5Integral Health Asset Management, LLCActive

Substantial overlap · 10 shared positions

$RVMD $CYTK $INSM $AXSM $ROIV $RYTM

$2.5B

92 positions

#6SILVERARC CAPITAL MANAGEMENT, LLCActive

Substantial overlap · 12 shared positions

$CELC $ABVX $DNTH $ELVN $COGT $PRAX

$962M

73 positions

#7Avoro Capital Advisors LLCSmart money

Substantial overlap · 8 shared positions

$UTHR $RVMD $CYTK $CELC $XENE $QURE

$11.1B

26 positions

#8Boxer Capital Management, LLCSmart money

Substantial overlap · 10 shared positions

$RVMD $ABVX $CELC $QURE $PCVX $KYMR

$1.3B

63 positions

#9Rock Springs Capital Management LPActive

Substantial overlap · 12 shared positions

$RVMD $MIRM $XENE $INSM $RYTM $SRRK

$2.0B

104 positions

#10Darwin Global Management, Ltd.Smart money

Substantial overlap · 4 shared positions

$RVMD $ABVX $ROIV $INSM

$3.8B

5 positions

#11Logos Global Management LPActive

Substantial overlap · 8 shared positions

$ABVX $RVMD $PRAX $DNTH $ERAS $COGT

$2.3B

68 positions

#12DEERFIELD MANAGEMENT COMPANY, L.P. (SERIES C)Active

Substantial overlap · 9 shared positions

$RVMD $PRAX $CELC $UTHR $COGT $NAMS

$9.6B

82 positions

#13BAKER BROS. ADVISORS LPSmart money

Substantial overlap · 11 shared positions

$RVMD $CELC $INSM $PRAX $RYTM $KYMR

$20.0B

84 positions

#14DIADEMA PARTNERS LPPassive

Substantial overlap · 7 shared positions

$ABVX $UTHR $RVMD $COGT $QURE $KYMR

$791M

149 positions

#15Caligan Partners LPSmart money

Substantial overlap · 5 shared positions

$RVMD $ABVX $PCVX $XENE $VRDN

$2.1B

28 positions

#16Seven Fleet Capital Management LPActive

Substantial overlap · 12 shared positions

$RVMD $ELVN $ABVX $MIRM $CYTK $ROIV

$606M

96 positions

#17SUPERSTRING CAPITAL MANAGEMENT LPActive

Substantial overlap · 8 shared positions

$RVMD $AXSM $COGT $UTHR $PCVX $ORIC

$158M

32 positions

#18Exome Asset Management LLCActive

Substantial overlap · 9 shared positions

$ABVX $CYTK $ELVN $PRAX $COGT $QURE

$162M

52 positions

#19Ishara Investments LPActive

Substantial overlap · 12 shared positions

$BBIO $INSM $PRAX $AXSM $PCVX $CYTK

$136M

41 positions

#20Paradigm Biocapital Advisors LPActive

Substantial overlap · 8 shared positions

$RVMD $INSM $ERAS $PCVX $VRDN $APGE

$5.3B

28 positions

#21Tri Locum Partners LPActive

Substantial overlap · 6 shared positions

$AXSM $ELVN $RVMD $UTHR $CYTK $DNTH

$813M

19 positions

#22Vestal Point Capital, LPActive

Substantial overlap · 7 shared positions

$ABVX $UTHR $ELVN $RVMD $QURE $XENE

$4.3B

68 positions

#23Octagon Capital Advisors LPActive

Substantial overlap · 7 shared positions

$ABVX $DNTH $MIRM $XENE $COGT $ERAS

$1.1B

27 positions

#24Bellevue Group AGActive

Substantial overlap · 10 shared positions

$RVMD $INSM $VRDN $PCVX $UTHR $BBIO

$4.8B

148 positions

#25PERCEPTIVE ADVISORS LLCActive

Substantial overlap · 10 shared positions

$ROIV $CELC $PRAX $APGE $RYTM $INBX

$6.7B

109 positions

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Similarity is derived from each fund’s latest 13F-HR filing with the SEC. Funds are ranked by the overlap of distinctive conviction holdings; near-universal mega-cap positions are excluded so the ranking reflects shared strategy, not common index exposure. Data is informational only and not investment advice.