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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
NUVL
1
DELISTED
Nuvalent
NUVL
$36.7M 5.82%
359,114
+106,838
+42% +$8.86M
ARGX icon
2
argenx
ARGX
$52.9B
$29.5M 4.67%
54,440
-25,538
-32% -$12.9M
INSM icon
3
Insmed
INSM
$23.2B
$26M 4.12%
356,451
+33,091
+10% +$2.44M
MIRM icon
4
Mirum Pharmaceuticals
MIRM
$7.11B
$25.3M 4%
647,611
-55,787
-8% -$2.23M
PCVX icon
5
Vaxcyte
PCVX
$8.01B
$24.2M 3.84%
211,985
-48,296
-19% -$4.35M
AXSM icon
6
Axsome Therapeutics
AXSM
$11.4B
$22.9M 3.63%
255,294
-81,952
-24% -$7.15M
SNDX icon
7
Syndax Pharmaceuticals
SNDX
$1.98B
$22.9M 3.62%
1,187,165
+546,776
+85% +$11.3M
ASND icon
8
Ascendis Pharma A/S
ASND
$16.5B
$22.5M 3.56%
150,593
-35,988
-19% -$4.86M
NTRA icon
9
Natera
NTRA
$37.6B
$19.8M 3.13%
+155,650
New +$17.9M
ITCI
10
DELISTED
Intra-Cellular Therapies Inc.
ITCI
$18.6M 2.95%
254,800
-92,543
-27% -$6.96M
CRNX icon
11
Crinetics Pharmaceuticals
CRNX
$8.88B
$18.1M 2.86%
353,376
-15,926
-4% -$821K
TMDX icon
12
Transmedics
TMDX
$2.54B
$17.9M 2.84%
114,247
-25,533
-18% -$3.93M
ACLX
13
DELISTED
Arcellx
ACLX
$17.9M 2.83%
+214,298
New +$14.3M
BPMC
14
DELISTED
Blueprint Medicines
BPMC
$16.6M 2.62%
178,929
-5,972
-3% -$593K
VRNA
15
DELISTED
Verona Pharma
VRNA
$16.5M 2.61%
+572,928
New +$14.1M
VRTX icon
16
Vertex Pharmaceuticals
VRTX
$122B
$16.4M 2.59%
35,222
-15,470
-31% -$7.43M
BHVN icon
17
Biohaven
BHVN
$2.24B
$15.8M 2.5%
315,816
-50,203
-14% -$1.95M
ESTA icon
18
Establishment Labs
ESTA
$2.75B
$15.4M 2.45%
357,003
-12,977
-4% -$564K
MRUS
19
DELISTED
Merus
MRUS
$15.4M 2.44%
308,014
-13,892
-4% -$725K
ORIC icon
20
Oric Pharmaceuticals
ORIC
$1.08B
$14.9M 2.35%
1,451,037
-64,923
-4% -$642K
ISRG icon
21
Intuitive Surgical
ISRG
$125B
$14.9M 2.35%
30,254
-11,647
-28% -$5.42M
HROW icon
22
Harrow
HROW
$1.66B
$14.7M 2.32%
+326,582
New +$11M
VERA icon
23
Vera Therapeutics
VERA
$2.66B
$14.4M 2.28%
326,494
+113,550
+53% +$4.31M
BCAX
24
Bicara Therapeutics
BCAX
$1.78B
$14.3M 2.27%
+562,391
New +$14.3M
GERN icon
25
Geron
GERN
$924M
$14.2M 2.25%
+3,124,967
New +$14.2M
1
2

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IWP
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SI
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GEM
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BFFIM
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SFM
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JIR
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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.