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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
+6.37%
1 Year Est. Return
+261.28%
3 Year Est. Return
–
5 Year Est. Return
–
10 Year Est. Return
–
AUM
$615M
AUM Growth
-$53.7M
Cap. Flow
-$27.1M
Cap. Flow %
-4.41%
Top 10 Hldgs %
40.68%
Holding
44
New
10
Increased
7
Reduced
15
Closed
8

Top Buys

Rank Stock Value
1
ESTA icon
Establishment Labs
ESTA
+$18.8M
2
BPMC
Blueprint Medicines
BPMC
+$18.5M
3
CRNX icon
Crinetics Pharmaceuticals
CRNX
+$17.1M
4
ISRG icon
Intuitive Surgical
ISRG
+$16.7M
5
MRUS
Merus
MRUS
+$15.6M

Top Sells

Rank Stock Value
1
SWAV
Shockwave Medical, Inc. Common Stock
SWAV
+$31.9M
2
DAWN
Day One Biopharmaceuticals
DAWN
+$21.8M
3
TMDX icon
Transmedics
TMDX
+$18.9M
4
IONS icon
Ionis Pharmaceuticals
IONS
+$18.3M
5
VRNA
Verona Pharma
VRNA
+$15.7M

Sector Composition

Rank Sector Weight
1 Healthcare 100%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
BHVN icon
26
Biohaven
BHVN
$2.21B
$12.7M 2.07%
366,019
-66,323
-15% -$2.62M
APGE icon
27
Apogee Therapeutics
APGE
$10.2B
$12.5M 2.04%
318,327
-61,476
-16% -$2.98M
KALV
28
DELISTED
KalVista Pharmaceuticals
KALV
$12.5M 2.03%
1,059,540
-119,880
-10% -$1.4M
RCKT icon
29
Rocket Pharmaceuticals
RCKT
$358M
$12.1M 1.96%
560,989
+310,119
+124% +$7.12M
SYRE icon
30
Spyre Therapeutics
SYRE
$8.68B
$10.9M 1.78%
464,435
– –
ORIC icon
31
Oric Pharmaceuticals
ORIC
$1.13B
$10.7M 1.74%
1,515,960
+418,389
+38% +$3.75M
SLN
32
Silence Therapeutics
SLN
$541M
$10.2M 1.66%
+537,338
New +$11.4M
IMCR icon
33
Immunocore
IMCR
$1.81B
$9.86M 1.6%
291,086
-103,588
-26% -$5.28M
ELVN icon
34
Enliven Therapeutics
ELVN
$3.77B
$9.66M 1.57%
+413,243
New +$8.7M
VERA icon
35
Vera Therapeutics
VERA
$2.61B
$7.7M 1.25%
212,944
+94,684
+80% +$3.76M
IRON icon
36
Disc Medicine
IRON
$2.9B
$6.26M 1.02%
138,907
-113,766
-45% -$3.87M
DAWN
37
DELISTED
Day One Biopharmaceuticals
DAWN
– –
-1,318,207
Closed -$21.8M
EYPT icon
38
EyePoint Inc
EYPT
$1.05B
– –
-585,447
Closed -$12.1M
IONS icon
39
Ionis Pharmaceuticals
IONS
$9.23B
– –
-421,487
Closed -$18.3M
LEGN icon
40
Legend Biotech
LEGN
$4.55B
– –
-228,251
Closed -$12.8M
TYRA icon
41
Tyra Biosciences
TYRA
$1.83B
– –
-381,210
Closed -$6.25M
VKTX icon
42
Viking Therapeutics
VKTX
$4.11B
– –
-128,064
Closed -$10.5M
VRNA
43
DELISTED
Verona Pharma
VRNA
– –
-973,130
Closed -$15.7M
SWAV
44
DELISTED
Shockwave Medical, Inc. Common Stock
SWAV
– –
-98,111
Closed -$31.9M
1
2

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GEM
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BFFIM
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JIR
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First Turn Management's Q2 2024 Portfolio in Review

As of Q2 2024, First Turn Management held 44 positions worth $615M, down 8% from $668M the previous quarter. Its ten largest holdings account for 41% of the portfolio.

First Turn Management withdrew a net $27.1M in Q2 2024, closing 8 positions and reducing 15 holdings. Its most notable exit was Shockwave Medical, Inc. Common Stock, an estimated $31.9M 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 Establishment Labs worth $16.8M.

  • First Turn Management's largest Q2 2024 buy was Establishment Labs: 369,980 shares worth $16.8M.
  • First Turn Management added most to Intra-Cellular Therapies Inc. in Q2 2024, an estimated $9.75M increase.
  • First Turn Management's biggest Q2 2024 reduction was Transmedics, cutting an estimated $18.9M.
  • First Turn Management fully exited Shockwave Medical, Inc. Common Stock in Q2 2024, selling an estimated $31.9M.
  • First Turn Management's ten largest holdings make up 41% of its $615M portfolio in Q2 2024.
  • First Turn Management opened 10 new positions and closed 8 in Q2 2024.
  • First Turn Management's portfolio value fell 8% quarter-over-quarter to $615M.

Based on First Turn Management's 13F filing for Q2 2024, filed 8 Aug 2024.