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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
ARGX icon
1
argenx
ARGX
$52.9B
$34.4M 5.6%
79,978
– –
SRPT icon
2
Sarepta Therapeutics
SRPT
$1.78B
$28.7M 4.67%
181,669
-40,079
-18% -$5.15M
AXSM icon
3
Axsome Therapeutics
AXSM
$11.4B
$27.1M 4.42%
337,246
-4,927
-1% -$365K
ASND icon
4
Ascendis Pharma A/S
ASND
$16.5B
$25.4M 4.14%
186,581
+34,994
+23% +$4.76M
MIRM icon
5
Mirum Pharmaceuticals
MIRM
$7.11B
$24M 3.91%
703,398
-255,256
-27% -$6.69M
ITCI
6
DELISTED
Intra-Cellular Therapies Inc.
ITCI
$23.8M 3.87%
347,343
+140,636
+68% +$9.75M
VRTX icon
7
Vertex Pharmaceuticals
VRTX
$122B
$23.8M 3.87%
50,692
-8,140
-14% -$3.53M
INSM icon
8
Insmed
INSM
$23.2B
$21.7M 3.52%
+323,360
New +$12.5M
TMDX icon
9
Transmedics
TMDX
$2.54B
$21.1M 3.42%
139,780
-157,597
-53% -$18.9M
KRYS icon
10
Krystal Biotech
KRYS
$10B
$20.1M 3.26%
109,222
-21,628
-17% -$3.63M
BPMC
11
DELISTED
Blueprint Medicines
BPMC
$19.9M 3.24%
+184,901
New +$18.5M
PCVX icon
12
Vaxcyte
PCVX
$8.01B
$19.7M 3.2%
260,281
– –
NUVL
13
DELISTED
Nuvalent
NUVL
$19.1M 3.11%
252,276
-13,621
-5% -$969K
MRUS
14
DELISTED
Merus
MRUS
$19M 3.1%
+321,906
New +$15.6M
ISRG icon
15
Intuitive Surgical
ISRG
$125B
$18.6M 3.03%
+41,901
New +$16.7M
IMVT icon
16
Immunovant
IMVT
$8.2B
$18.4M 2.99%
695,428
+182,535
+36% +$5.19M
DXCM icon
17
DexCom
DXCM
$29.2B
$18.2M 2.95%
160,096
-32,836
-17% -$4.15M
ESTA icon
18
Establishment Labs
ESTA
$2.75B
$16.8M 2.73%
+369,980
New +$18.8M
CRNX icon
19
Crinetics Pharmaceuticals
CRNX
$8.88B
$16.5M 2.69%
+369,302
New +$17.1M
CYTK icon
20
Cytokinetics
CYTK
$10.7B
$15.9M 2.59%
293,318
-137,031
-32% -$8.27M
ATEC icon
21
Alphatec Holdings
ATEC
$1.27B
$14.2M 2.31%
1,360,410
+369,792
+37% +$4.31M
IDYA icon
22
IDEAYA Biosciences
IDYA
$3.41B
$14M 2.27%
397,782
– –
XENE icon
23
Xenon Pharmaceuticals
XENE
$6.38B
$13.3M 2.16%
339,876
-340,513
-50% -$13.6M
SNDX icon
24
Syndax Pharmaceuticals
SNDX
$1.98B
$13.1M 2.14%
+640,389
New +$13.4M
RVMD icon
25
Revolution Medicines
RVMD
$38.4B
$12.8M 2.08%
+329,519
New +$12.3M
1
2

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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.