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FTM
First Turn Management Portfolio holdings
AUM
$895M
1-Year Est. Return
261.28%
This Fund
S&P 500
This Quarter
Est. Return
+21.43%
1 Year Est. Return
+261.28%
3 Year Est. Return
–
5 Year Est. Return
–
10 Year Est. Return
–
AUM
$668M
AUM Growth
-$27.9M
(-4%)
Cap. Flow
-$62.3M
Cap. Flow
% of AUM
-9.33%
Top 10 Holdings %
Top 10 Hldgs %
42.06%
Holding
40
New
9
Increased
10
Reduced
11
Closed
6
Top Buys
| Rank | Stock | Value |
|---|---|---|
| 1 |
Apogee Therapeutics
APGE
|
+$16.6M |
| 2 |
KALV
KalVista Pharmaceuticals
KALV
|
+$15.7M |
| 3 |
Alphatec Holdings
ATEC
|
+$14.7M |
| 4 |
Spyre Therapeutics
SYRE
|
+$13.5M |
| 5 |
Oric Pharmaceuticals
ORIC
|
+$13M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
CBAY
Cymabay Therapeutics
CBAY
|
+$35.4M |
| 2 |
Cytokinetics
CYTK
|
+$29.2M |
| 3 |
KRTX
Karuna Therapeutics, Inc. Common Stock
KRTX
|
+$27.7M |
| 4 |
Insulet
PODD
|
+$25M |
| 5 |
Krystal Biotech
KRYS
|
+$15.5M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Healthcare | 100% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
|
ITCI
26
DELISTED
Intra-Cellular Therapies Inc.
ITCI
| $14.3M | 2.14% |
206,707
-10,718
| -5% | -$737K |
|
|
KALV
27
DELISTED
KalVista Pharmaceuticals
KALV
| $14M | 2.09% |
+1,179,420
| New | +$15.7M |
|
|
28
Alphatec Holdings
ATEC
$1.27B
| $13.7M | 2.04% |
+990,618
| New | +$14.7M |
|
29
Legend Biotech
LEGN
$4.3B
| $12.8M | 1.92% |
228,251
-247,828
| -52% | -$14.9M |
|
30
EyePoint Inc
EYPT
$1.02B
| $12.1M | 1.81% |
585,447
+268,437
| +85% | +$6.65M |
|
31
Viking Therapeutics
VKTX
$4.04B
| $10.5M | 1.57% |
+128,064
| New | +$5.7M |
|
32
Rocket Pharmaceuticals
RCKT
$348M
| $6.76M | 1.01% |
+250,870
| New | +$7.13M |
|
33
Tyra Biosciences
TYRA
$1.82B
| $6.25M | 0.94% |
+381,210
| New | +$6.25M |
|
34
Vera Therapeutics
VERA
$2.54B
| $5.1M | 0.76% |
+118,260
| New | +$4.21M |
|
35
Cabaletta Bio
CABA
$439M
| – | – |
-175,359
| Closed | -$3.98M |
|
|
36
Insulet
PODD
$11.3B
| – | – |
-115,366
| Closed | -$25M |
|
37
Roivant Sciences
ROIV
$25.2B
| – | – |
-1,363,504
| Closed | -$15.3M |
|
|
CBAY
38
DELISTED
Cymabay Therapeutics
CBAY
| – | – |
-1,497,331
| Closed | -$35.4M |
|
|
KRTX
39
DELISTED
Karuna Therapeutics, Inc. Common Stock
KRTX
| – | – |
-87,369
| Closed | -$27.7M |
|
|
SLGCW
40
DELISTED
SomaLogic, Inc. Warrant
SLGCW
| – | – |
-17,953
| Closed | -$2.15K |
|
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First Turn Management's Q1 2024 Portfolio in Review
As of Q1 2024, First Turn Management held 40 positions worth $668M, down 4% from $696M the previous quarter. Its ten largest holdings account for 42% of the portfolio.
First Turn Management withdrew a net $62.3M in Q1 2024, closing 6 positions and reducing 11 holdings. Its most notable exit was Cymabay Therapeutics, an estimated $35.4M position sold in full.
By sector, the portfolio is most concentrated in Healthcare at 100% of assets, up from 100% a quarter earlier.
Against the trend, First Turn Management opened a new position in Apogee Therapeutics worth $25.2M.
- First Turn Management's largest Q1 2024 buy was Apogee Therapeutics: 379,803 shares worth $25.2M.
- First Turn Management added most to Shockwave Medical, Inc. Common Stock in Q1 2024, an estimated $9.97M increase.
- First Turn Management's biggest Q1 2024 reduction was Cytokinetics, cutting an estimated $29.2M.
- First Turn Management fully exited Cymabay Therapeutics in Q1 2024, selling an estimated $35.4M.
- First Turn Management's ten largest holdings make up 42% of its $668M portfolio in Q1 2024.
- First Turn Management opened 9 new positions and closed 6 in Q1 2024.
- First Turn Management's portfolio value fell 4% quarter-over-quarter to $668M.
Based on First Turn Management's 13F filing for Q1 2024, filed 6 May 2024.