First Turn Management portfolio
Concentrated managerInvestment firmPortfolio as of Jun 30, 2026 (Q2 2026) · filed with the SEC on Aug 14, 2026 · data updated on Nov 5, 2026 · Q2 2026 13F (filing) ↗ · all its 13F filings ↗
A 13F shows the portfolio at quarter-end and is filed up to 45 days later: these are not real-time positions and they may have changed.
First Turn Management reported a $935M portfolio of 31 positions to the SEC as of the end of Q2 2026. Its largest positions are RVMD, ABVX, AXSM. During the quarter it opened Vaxcyte and Rhythm Pharmaceuticals and exited IDEAYA Biosciences and Fulcrum Therapeutics.
Sections with a free account
What changed this quarter
36 positions with a change (5 new, 14 added to, 11 trimmed, 6 sold); also, 1 exited through an acquisition or merger. 12 are listed here: those of 0.5 points of the portfolio or more (up to 12).
- Apogee Therapeutics−73%fewer sharesReduced4.8% → 2.0%
- Nuvalent−93%fewer sharesReduced4.2% → 0.3%
- IDEAYA Biosciences−3.1 ppof portfolioSold out3.3% → —
- Vaxcyte+2.8 ppof portfolioNew— → 2.8%
- Mirum Pharmaceuticals−46%fewer sharesReduced4.1% → 2.7%
- Cytokinetics+86%more sharesIncreased2.1% → 4.8%
- Kymera Therapeutics−60%fewer sharesReduced2.4% → 1.3%
- Fulcrum Therapeutics−1.9 ppof portfolioSold out1.9% → —
- Rhythm Pharmaceuticals+1.8 ppof portfolioNew— → 1.8%
- Vera Therapeutics−1.8 ppof portfolioSold out1.9% → —
- Enliven Therapeutics+53%more sharesIncreased2.7% → 5.2%
- Natera−1.7 ppof portfolioSold out1.8% → —
The figure on the right: for positions added to or trimmed, the change in the number of shares (%); for new and sold ones, the points of the portfolio moved (pp). Below, the portfolio weight before → after. Traded weight: what it bought or sold, excluding price effects.
Top holdings
- Revolution MedicinesRVMD8.3%
- AbivaxABVX7.0%
- Axsome TherapeuticsAXSM5.7%
- Enliven TherapeuticsELVN5.2%
- BridgeBio PharmaBBIO5.0%
- Roivant SciencesROIV5.0%
- United TherapeuticsUTHR4.9%
- CytokineticsCYTK4.8%
- Xenon PharmaceuticalsXENE3.9%
- CelcuityCELC3.7%
- Viridian TherapeuticsVRDN3.3%
- InsmedINSM3.0%
- uniQureQURE3.0%
- Ascendis Pharma A/SASND3.0%
- Praxis Precision MedicinesPRAX3.0%
“Since”: first quarter of the current run, unbroken until today. In the details, prices are the quarter-end prices of the quarters in which it added shares, per the 13F. The manager may have bought at any price within each quarter; the SEC only publishes the value at quarter end.
Portfolio by sector
- ● Health Care 100%
How its portfolio changed (8 quarters)
Q2 2026: 31
Q2 2026: 54%
Q2 2026: 25.3%
Traded turnover: the weight it bought plus the weight it sold in the quarter, divided by two, excluding price moves. The plain “turnover” in the header does include that effect. With a free account: the full history and sectors over time.
Stakes above 5% (13D/13G)
Companies where this filer reported holding 5% or more of the shares. It is the figure from its latest filing on each one; history since December 2024.
How we classify it
Investment firm, per its Form ADV of Mar 25, 2026 (medium confidence).
The data, as reported: FIRST TURN MANAGEMENT, LLC (CRD 327421): Institutional mandates; 5.D assets by client type: sovereign funds 90%, pooled vehicles 10% (of $900M); 5.F 4 accounts, 0% non-discretionary; 5.D 4 clients, 0 individuals
The type comes from a rule applied to that data. If it looks wrong, tell us.
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