We are live on
!
Find out more
FTM
First Turn Management Portfolio holdings
AUM
$895M
1-Year Est. Return
261.28%
This Fund
S&P 500
This Quarter
Est. Return
+14.87%
1 Year Est. Return
+261.28%
3 Year Est. Return
–
5 Year Est. Return
–
10 Year Est. Return
–
AUM
$536M
AUM Growth
+$40M
(+8.1%)
Cap. Flow
-$19.2M
Cap. Flow
% of AUM
-3.57%
Top 10 Holdings %
Top 10 Hldgs %
46.73%
Holding
42
New
7
Increased
14
Reduced
14
Closed
7
Top Buys
| Rank | Stock | Value |
|---|---|---|
| 1 |
Disc Medicine
IRON
|
+$14.1M |
| 2 |
ACLX
Arcellx
ACLX
|
+$13.4M |
| 3 |
ADMA Biologics
ADMA
|
+$10.7M |
| 4 |
NewAmsterdam Pharma
NAMS
|
+$9.5M |
| 5 |
Intuitive Surgical
ISRG
|
+$5.33M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
SWTX
SpringWorks Therapeutics
SWTX
|
+$13.4M |
| 2 |
Glaukos
GKOS
|
+$13.4M |
| 3 |
EXAS
Exact Sciences
EXAS
|
+$13M |
| 4 |
Vaxcyte
PCVX
|
+$10.5M |
| 5 |
VRNA
Verona Pharma
VRNA
|
+$9.28M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Healthcare | 100% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
|
26
NewAmsterdam Pharma
NAMS
$3.57B
| $9.44M | 1.76% |
+521,097
| New | +$9.5M |
|
27
HealthEquity
HQY
$7.89B
| $8.47M | 1.58% |
80,880
-3,086
| -4% | -$293K |
|
28
ARS Pharmaceuticals
SPRY
$596M
| $7.96M | 1.48% |
455,953
-213,057
| -32% | -$3.07M |
|
29
Vera Therapeutics
VERA
$2.61B
| $7.3M | 1.36% |
309,666
-313,946
| -50% | -$7.06M |
|
|
SLNO
30
DELISTED
Soleno Therapeutics
SLNO
| $7.23M | 1.35% |
86,332
+57,217
| +197% | +$4.28M |
|
31
Harrow
HROW
$1.56B
| $6.99M | 1.3% |
228,761
+39,932
| +21% | +$1.07M |
|
|
AKRO
32
DELISTED
Akero Therapeutics
AKRO
| $6.11M | 1.14% |
+114,554
| New | +$5.21M |
|
33
Alnylam Pharmaceuticals
ALNY
$35.9B
| $5.83M | 1.09% |
+17,879
| New | +$4.95M |
|
|
KALV
34
DELISTED
KalVista Pharmaceuticals
KALV
| $2.42M | 0.45% |
+214,138
| New | +$2.62M |
|
|
BBNX
35
Beta Bionics
BBNX
$719M
| $2.29M | 0.43% |
+157,194
| New | +$2.23M |
|
|
BPMC
36
DELISTED
Blueprint Medicines
BPMC
| – | – |
-92,033
| Closed | -$8.15M |
|
|
EXAS
37
DELISTED
Exact Sciences
EXAS
| – | – |
-300,909
| Closed | -$13M |
|
|
38
Glaukos
GKOS
$8.94B
| – | – |
-136,241
| Closed | -$13.4M |
|
39
MoonLake Immunotherapeutics
MLTX
$1.62B
| – | – |
-179,196
| Closed | -$7M |
|
|
40
Vaxcyte
PCVX
$8.03B
| – | – |
-276,905
| Closed | -$10.5M |
|
41
Praxis Precision Medicines
PRAX
$8.99B
| – | – |
-71,775
| Closed | -$2.72M |
|
|
SWTX
42
DELISTED
SpringWorks Therapeutics
SWTX
| – | – |
-304,076
| Closed | -$13.4M |
|
Similar funds
WIC
IWP
SI
GEM
BFFIM
WP
SFM
JIR
First Turn Management's Q2 2025 Portfolio in Review
As of Q2 2025, First Turn Management held 42 positions worth $536M, up 8.1% from $496M the previous quarter. Its ten largest holdings account for 47% of the portfolio.
First Turn Management withdrew a net $19.2M in Q2 2025, closing 7 positions and reducing 14 holdings. Its most notable exit was SpringWorks Therapeutics, an estimated $13.4M 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 Disc Medicine worth $15.9M.
- First Turn Management's largest Q2 2025 buy was Disc Medicine: 299,464 shares worth $15.9M.
- First Turn Management added most to ADMA Biologics in Q2 2025, an estimated $10.7M increase.
- First Turn Management's biggest Q2 2025 reduction was Verona Pharma, cutting an estimated $9.28M.
- First Turn Management fully exited SpringWorks Therapeutics in Q2 2025, selling an estimated $13.4M.
- First Turn Management's ten largest holdings make up 47% of its $536M portfolio in Q2 2025.
- First Turn Management opened 7 new positions and closed 7 in Q2 2025.
- First Turn Management's portfolio value rose 8.1% quarter-over-quarter to $536M.
Based on First Turn Management's 13F filing for Q2 2025, filed 14 Aug 2025.