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First Turn Management Portfolio holdings
AUM
$935M
Turnover
31.58%
1-Year Est. Return
298.58%
This Fund
S&P 500
This Quarter Est. Return
+26.73%
1 Year Est. Return
+298.58%
3 Year Est. Return
–
5 Year Est. Return
–
10 Year Est. Return
–
AUM
$935M
AUM Growth
+$39.6M
(+4.4%)
Cap. Flow
-$96.5M
Cap. Flow % of AUM
Cap. Flow %
-10.33%
Top 10 Holdings %
Top 10 Hldgs %
53.58%
Holding
38
New
5
Increased
14
Reduced
11
Closed
7
Avg Time Held
1
year
Top 10 Avg Time Held
0.4
years
Top 20 Avg Time Held
0.8
years
Top Buys
| Rank | Stock | Value |
|---|---|---|
| 1 |
Vaxcyte
PCVX
|
+$24.1M |
| 2 |
Cytokinetics
CYTK
|
+$17.5M |
| 3 |
Inhibrx
INBX
|
+$16.5M |
| 4 |
Enliven Therapeutics
ELVN
|
+$14M |
| 5 |
Rhythm Pharmaceuticals
RYTM
|
+$13.9M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Nuvalent
NUVL
|
+$37M |
| 2 |
Apogee Therapeutics
APGE
|
+$33.8M |
| 3 |
IDEAYA Biosciences
IDYA
|
+$29.1M |
| 4 |
Mirum Pharmaceuticals
MIRM
|
+$18.3M |
| 5 |
Fulcrum Therapeutics
FULC
|
+$17.3M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Healthcare | 100% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | Held Since | |
|---|---|---|---|---|---|---|---|
|
26
Inhibrx
INBX
$1.32B
| $15.6M | 1.67% |
+164,783
| New | +$16.5M |
2026 Q2
0 quarters
|
|
27
Scholar Rock
SRRK
$4.9B
| $14.9M | 1.6% |
271,227
-175,163
| -39% | -$8.46M |
2025 Q4
2 quarters
|
|
28
Oruka Therapeutics
ORKA
$4.93B
| $14.8M | 1.58% |
+155,343
| New | +$10.4M |
2026 Q2
0 quarters
|
|
29
Kymera Therapeutics
KYMR
$8.99B
| $11.8M | 1.26% |
102,533
-152,139
| -60% | -$13.1M |
2025 Q3
3 quarters
|
|
30
Sionna Therapeutics
SION
$181M
| $4.86M | 0.52% |
+110,493
| New | +$4.42M |
2026 Q2
0 quarters
|
|
|
31
DELISTED
Nuvalent
NUVL
| $3.25M | 0.35% |
26,298
-344,046
| -93% | -$37M |
2023 Q4
10 quarters
|
|
|
32
Fulcrum Therapeutics
FULC
$283M
| – | – |
-2,256,109
| Closed | -$17.3M | – |
|
|
33
IDEAYA Biosciences
IDYA
$3.26B
| – | – |
-873,838
| Closed | -$29.1M | – |
|
34
MoonLake Immunotherapeutics
MLTX
$830M
| – | – |
-315,563
| Closed | -$5.88M | – |
|
35
Natera
NTRA
$57.6B
| – | – |
-81,077
| Closed | -$16.2M | – |
|
36
Olema Pharmaceuticals
OLMA
$622M
| – | – |
-768,662
| Closed | -$11.5M | – |
|
37
DELISTED
Terns Pharmaceuticals
TERN
| – | – |
-326,694
| Closed | -$17.2M | – |
|
38
Vera Therapeutics
VERA
$2.08B
| – | – |
-422,023
| Closed | -$17M | – |
|
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First Turn Management's Q2 2026 Portfolio in Review
As of Q2 2026, First Turn Management held 38 positions worth $935M, up 4.4% from $895M the previous quarter. Its ten largest holdings account for 54% of the portfolio.
First Turn Management withdrew a net $96.5M in Q2 2026, closing 7 positions and reducing 11 holdings. Its most notable exit was IDEAYA Biosciences, an estimated $29.1M position sold in full.
By sector, the portfolio is most concentrated in Healthcare at 100% of assets, unchanged from a quarter earlier.
Against the trend, First Turn Management opened a new position in Vaxcyte worth $25.8M.
- First Turn Management's largest Q2 2026 buy was Vaxcyte: 443,836 shares worth $25.8M.
- First Turn Management added most to Cytokinetics in Q2 2026, an estimated $17.5M increase.
- First Turn Management's biggest Q2 2026 reduction was Nuvalent, cutting an estimated $37M.
- First Turn Management fully exited IDEAYA Biosciences in Q2 2026, selling an estimated $29.1M.
- First Turn Management's ten largest holdings make up 54% of its $935M portfolio in Q2 2026.
- First Turn Management opened 5 new positions and closed 7 in Q2 2026.
- First Turn Management's portfolio value rose 4.4% quarter-over-quarter to $935M.
Based on First Turn Management's 13F filing for Q2 2026, filed 14 Aug 2026.