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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
+20.27%
1 Year Est. Return
+261.28%
3 Year Est. Return
–
5 Year Est. Return
–
10 Year Est. Return
–
AUM
$632M
AUM Growth
+$16.9M
Cap. Flow
-$45.8M
Cap. Flow %
-7.25%
Top 10 Hldgs %
39.33%
Holding
49
New
13
Increased
6
Reduced
19
Closed
11

Top Buys

Rank Stock Value
1
NTRA icon
Natera
NTRA
+$17.9M
2
BCAX
Bicara Therapeutics
BCAX
+$14.3M
3
ACLX
Arcellx
ACLX
+$14.3M
4
GERN icon
Geron
GERN
+$14.2M
5
VRNA
Verona Pharma
VRNA
+$14.1M

Top Sells

Rank Stock Value
1
SRPT icon
Sarepta Therapeutics
SRPT
+$28.7M
2
IMVT icon
Immunovant
IMVT
+$18.4M
3
DXCM icon
DexCom
DXCM
+$18.2M
4
ATEC icon
Alphatec Holdings
ATEC
+$14.2M
5
IDYA icon
IDEAYA Biosciences
IDYA
+$14M

Sector Composition

Rank Sector Weight
1 Healthcare 100%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
ELVN icon
26
Enliven Therapeutics
ELVN
$3.78B
$13.7M 2.16%
535,092
+121,849
+29% +$2.82M
ADMA icon
27
ADMA Biologics
ADMA
$1.92B
$13.3M 2.1%
+664,985
New +$10.3M
DAWN
28
DELISTED
Day One Biopharmaceuticals
DAWN
$13.2M 2.09%
+947,878
New +$13.5M
RGEN icon
29
Repligen
RGEN
$7.44B
$13.2M 2.09%
+88,714
New +$12.7M
XENE icon
30
Xenon Pharmaceuticals
XENE
$6.32B
$12.8M 2.03%
325,218
-14,658
-4% -$591K
GKOS icon
31
Glaukos
GKOS
$9.02B
$12.5M 1.98%
+96,097
New +$12M
KRYS icon
32
Krystal Biotech
KRYS
$9.88B
$12.4M 1.96%
67,942
-41,280
-38% -$7.96M
CYTK icon
33
Cytokinetics
CYTK
$11B
$11.8M 1.87%
223,147
-70,171
-24% -$3.91M
RCKT icon
34
Rocket Pharmaceuticals
RCKT
$348M
$11.5M 1.82%
621,306
+60,317
+11% +$1.24M
BBIO icon
35
BridgeBio Pharma
BBIO
$16.5B
$10.2M 1.61%
+399,781
New +$10.5M
RLAY icon
36
Relay Therapeutics
RLAY
$4.02B
$8.68M 1.37%
+1,226,354
New +$9.16M
SPRY icon
37
ARS Pharmaceuticals
SPRY
$590M
$8.6M 1.36%
+593,291
New +$7.06M
KALV
38
DELISTED
KalVista Pharmaceuticals
KALV
$4.11M 0.65%
355,000
-704,540
-66% -$8.86M
APGE icon
39
Apogee Therapeutics
APGE
$10.2B
– –
-318,327
Closed -$12.5M
ATEC icon
40
Alphatec Holdings
ATEC
$1.27B
– –
-1,360,410
Closed -$14.2M
DXCM icon
41
DexCom
DXCM
$27.6B
– –
-160,096
Closed -$18.2M
IDYA icon
42
IDEAYA Biosciences
IDYA
$3.41B
– –
-397,782
Closed -$14M
IMCR icon
43
Immunocore
IMCR
$1.78B
– –
-291,086
Closed -$9.86M
IMVT icon
44
Immunovant
IMVT
$8.09B
– –
-695,428
Closed -$18.4M
IRON icon
45
Disc Medicine
IRON
$2.83B
– –
-138,907
Closed -$6.26M
RVMD icon
46
Revolution Medicines
RVMD
$40.2B
– –
-329,519
Closed -$12.8M
SLN
47
Silence Therapeutics
SLN
$521M
– –
-537,338
Closed -$10.2M
SRPT icon
48
Sarepta Therapeutics
SRPT
$1.66B
– –
-181,669
Closed -$28.7M
SYRE icon
49
Spyre Therapeutics
SYRE
$8.87B
– –
-464,435
Closed -$10.9M
1
2

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First Turn Management's Q3 2024 Portfolio in Review

As of Q3 2024, First Turn Management held 49 positions worth $632M, up 2.7% from $615M the previous quarter. Its ten largest holdings account for 39% of the portfolio.

First Turn Management withdrew a net $45.8M in Q3 2024, closing 11 positions and reducing 19 holdings. Its most notable exit was Sarepta Therapeutics, an estimated $28.7M 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 Natera worth $19.8M.

  • First Turn Management's largest Q3 2024 buy was Natera: 155,650 shares worth $19.8M.
  • First Turn Management added most to Syndax Pharmaceuticals in Q3 2024, an estimated $11.3M increase.
  • First Turn Management's biggest Q3 2024 reduction was argenx, cutting an estimated $12.9M.
  • First Turn Management fully exited Sarepta Therapeutics in Q3 2024, selling an estimated $28.7M.
  • First Turn Management's ten largest holdings make up 39% of its $632M portfolio in Q3 2024.
  • First Turn Management opened 13 new positions and closed 11 in Q3 2024.
  • First Turn Management's portfolio value rose 2.7% quarter-over-quarter to $632M.

Based on First Turn Management's 13F filing for Q3 2024, filed 7 Nov 2024.