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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
Cap. Flow
-$62.3M
Cap. Flow %
-9.33%
Top 10 Hldgs %
42.06%
Holding
40
New
9
Increased
10
Reduced
11
Closed
6

Top Buys

Rank Stock Value
1
APGE icon
Apogee Therapeutics
APGE
+$16.6M
2
KALV
KalVista Pharmaceuticals
KALV
+$15.7M
3
ATEC icon
Alphatec Holdings
ATEC
+$14.7M
4
SYRE icon
Spyre Therapeutics
SYRE
+$13.5M
5
ORIC icon
Oric Pharmaceuticals
ORIC
+$13M

Top Sells

Rank Stock Value
1
CBAY
Cymabay Therapeutics
CBAY
+$35.4M
2
CYTK icon
Cytokinetics
CYTK
+$29.2M
3
KRTX
Karuna Therapeutics, Inc. Common Stock
KRTX
+$27.7M
4
PODD icon
Insulet
PODD
+$25M
5
KRYS icon
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
SWAV
1
DELISTED
Shockwave Medical, Inc. Common Stock
SWAV
$31.9M 4.78%
98,111
+40,627
+71% +$9.97M
ARGX icon
2
argenx
ARGX
$54.7B
$31.5M 4.71%
79,978
-3,425
-4% -$1.33M
CYTK icon
3
Cytokinetics
CYTK
$11B
$30.2M 4.51%
430,349
-377,095
-47% -$29.2M
XENE icon
4
Xenon Pharmaceuticals
XENE
$6.45B
$29.3M 4.38%
680,389
– –
SRPT icon
5
Sarepta Therapeutics
SRPT
$1.71B
$28.7M 4.29%
221,748
+17,866
+9% +$2.19M
AXSM icon
6
Axsome Therapeutics
AXSM
$12.2B
$27.3M 4.08%
342,173
+46,745
+16% +$3.92M
DXCM icon
7
DexCom
DXCM
$28.8B
$26.8M 4%
192,932
– –
IMCR icon
8
Immunocore
IMCR
$1.75B
$25.7M 3.84%
394,674
+51,595
+15% +$3.54M
APGE icon
9
Apogee Therapeutics
APGE
$10.1B
$25.2M 3.78%
+379,803
New +$16.6M
VRTX icon
10
Vertex Pharmaceuticals
VRTX
$122B
$24.6M 3.68%
58,832
-22,851
-28% -$9.66M
MIRM icon
11
Mirum Pharmaceuticals
MIRM
$7.14B
$24.1M 3.6%
958,654
+122,352
+15% +$3.36M
BHVN icon
12
Biohaven
BHVN
$2.34B
$23.6M 3.54%
432,342
-44,972
-9% -$2.23M
KRYS icon
13
Krystal Biotech
KRYS
$10B
$23.3M 3.48%
130,850
-111,335
-46% -$15.5M
ASND icon
14
Ascendis Pharma A/S
ASND
$16.7B
$22.9M 3.43%
151,587
– –
TMDX icon
15
Transmedics
TMDX
$2.57B
$22M 3.29%
297,377
-25,808
-8% -$2.13M
DAWN
16
DELISTED
Day One Biopharmaceuticals
DAWN
$21.8M 3.26%
1,318,207
-382,742
-23% -$5.73M
NUVL
17
DELISTED
Nuvalent
NUVL
$20M 2.99%
265,897
+10,000
+4% +$796K
IONS icon
18
Ionis Pharmaceuticals
IONS
$8.82B
$18.3M 2.73%
421,487
+64,808
+18% +$3.09M
PCVX icon
19
Vaxcyte
PCVX
$8.38B
$17.8M 2.66%
260,281
-97,247
-27% -$6.73M
SYRE icon
20
Spyre Therapeutics
SYRE
$8.92B
$17.6M 2.64%
+464,435
New +$13.5M
IDYA icon
21
IDEAYA Biosciences
IDYA
$3.46B
$17.5M 2.61%
397,782
+15,400
+4% +$662K
IMVT icon
22
Immunovant
IMVT
$8.12B
$16.6M 2.48%
512,893
– –
IRON icon
23
Disc Medicine
IRON
$2.89B
$15.7M 2.35%
252,673
+95,399
+61% +$6.19M
VRNA
24
DELISTED
Verona Pharma
VRNA
$15.7M 2.34%
973,130
-233,161
-19% -$4.03M
ORIC icon
25
Oric Pharmaceuticals
ORIC
$1.12B
$15.1M 2.26%
+1,097,571
New +$13M
1
2

Similar funds

WIC
Water Island Capital New York $896M AUM 107.59% 1-Year Est. Return
IWP
IAG Wealth Partners Waukesha, Wisconsin $896M AUM 15.29% 1-Year Est. Return
SI
Squadra Investments Rio De Janeiro, Brazil $894M AUM 33.04% 1-Year Est. Return
GEM
Global Endowment Management Charlotte, North Carolina $896M AUM 13.86% 1-Year Est. Return
BFFIM
Baring Fintech Fund III Managers St Peter Port, Guernsey $893M AUM 20.23% 1-Year Est. Return
WP
WealthShield Partners Cary, North Carolina $898M AUM 19.35% 1-Year Est. Return
SFM
Signet Financial Management Parsippany, New Jersey $892M AUM 23.24% 1-Year Est. Return
JIR
James Investment Research Alpha, Ohio $891M AUM 30.4% 1-Year Est. Return

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.