1y return+63.4%S&P 500 +20.9%
These returns are for its stock picks as disclosed on Form 13F: last quarter's holdings, valued at this quarter's prices. They miss trades within each quarter, short positions, options, bonds, cash and fees, so they aren't the returns its clients got.
$100 invested in its stock picks
Since December 31, 2023: $154 against $157 in the S&P 500.2
First Turn Management, LLCS&P 500 (SPY)
Top holdings
At the end of June 30, 2026. Change is in shares since the quarter before.2
| Stock | Value | Share of portfolio | Change |
|---|---|---|---|
| RVMDRevolution Medicines Inc | $77.8M | 8.3% | −11.3% |
| ABVXAbivax Sa | $65.3M | 7.0% | +5.2% |
| AXSMAxsome Therapeutics Inc. | $53.5M | 5.7% | +15.7% |
| ELVNEnliven Therapeutics Inc | $48.4M | 5.2% | +53.0% |
| BBIOBridgebio Pharma Inc | $47.2M | 5.0% | −9.0% |
| Roivant Sciences LtdCUSIP G76279101 | $47.1M | 5.0% | +11.8% |
| UTHRUnited Therapeutics Corp Del | $46.0M | 4.9% | −18.9% |
| CYTKCytokinetics Inc | $44.9M | 4.8% | +85.9% |
| XENEXenon Pharmaceuticals Inc | $36.2M | 3.9% | −23.7% |
| CELCCelcuity Inc | $34.4M | 3.7% | +56.3% |
| VRDNViridian Therapeutics Inc | $30.7M | 3.3% | +83.2% |
| INSMInsmed Inc | $28.1M | 3.0% | +6.2% |
| Uniqure NvCUSIP N90064101 | $28.0M | 3.0% | −1.1% |
| Ascendis Pharma A/sCUSIP K08588103 | $28.0M | 3.0% | New |
| PRAXPraxis Precision Medicines I | $28.0M | 3.0% | +96.8% |
| DNTHDianthus Therapeutics Inc | $27.9M | 3.0% | +29.4% |
| PCVXVaxcyte Inc | $25.8M | 2.8% | New |
| MIRMMirum Pharmaceuticals Inc | $25.5M | 2.7% | −45.6% |
| PVLAPalvella Therapeutics Inc Ne | $23.9M | 2.6% | +5.6% |
| COGTCogent Biosciences Inc | $23.3M | 2.5% | −36.4% |
| ERASErasca Inc | $22.4M | 2.4% | +40.8% |
| ORICOric Pharmaceuticals Inc | $21.8M | 2.3% | |
| Newamsterdam Pharma CompanyCUSIP N62509109 | $19.7M | 2.1% | +4.3% |
| Apogee Therapeutics IncCUSIP 03770N101 | $18.4M | 2.0% | −73.0% |
| RYTMRhythm Pharmaceuticals Inc | $17.1M | 1.8% | New |
Best picks still held
How each current holding has done since the quarter it first appeared in its filings (up to six years back).
| Stock | Held since | Return since | Now worth |
|---|---|---|---|
| RVMDRevolution Medicines Inc | December 31, 2024 | +328.2% | $77.8M |
| MIRMMirum Pharmaceuticals Inc | December 31, 2023 | +296.6% | $25.5M |
| AXSMAxsome Therapeutics Inc. | December 31, 2023 | +207.5% | $53.5M |
| Apogee Therapeutics IncCUSIP 03770N101 | December 31, 2024 | +193.0% | $18.4M |
| BBIOBridgebio Pharma Inc | September 30, 2024 | +192.5% | $47.2M |
| Roivant Sciences LtdCUSIP G76279101 | September 30, 2025 | +133.9% | $47.1M |
| KYMRKymera Therapeutics Inc | September 30, 2025 | +102.6% | $11.8M |
| Uniqure NvCUSIP N90064101 | December 31, 2025 | +92.5% | $28.0M |
| Newamsterdam Pharma CompanyCUSIP N62509109 | June 30, 2025 | +87.1% | $19.7M |
| Nuvalent IncCUSIP 670703107 | December 31, 2023 | +67.8% | $3.2M |
Sold off last quarter
- IDYAIdeaya Biosciences Inc was $29.1M
- Ascendis Pharma A/sCUSIP 04351P101 was $17.5M
- FULCFulcrum Therapeutics Inc was $17.3M
- Terns Pharmaceuticals IncCUSIP 880881107 was $17.2M
- VERAVera Therapeutics Inc was $17.0M
- NTRANatera Inc was $16.2M
- OLMAOlema Pharmaceuticals Inc was $11.5M
- MLTXMoonlake Immunotherapeutics was $5.9M
Quarter by quarter
| Quarter | Its picks | S&P 500 |
|---|---|---|
| June 30, 2026 | +16.7% | +14.8% |
| March 31, 2026 | +1.6% | −4.6% |
| December 31, 2025 | +17.5% | +2.4% |
| September 30, 2025 | +17.3% | +7.8% |
| June 30, 2025 | +14.1% | +10.5% |
| March 31, 2025 | −8.9% | −4.6% |
| December 31, 2024 | −8.8% | +2.1% |
| September 30, 2024 | +6.0% | +5.4% |
| June 30, 2024 | −7.3% | +4.0% |
| March 31, 2024 | +1.4% | +10.0% |
Sources
Every number on this page points here. Each one links to the public record.
- 1SEC EDGAR: First Turn Management, LLC Form 13F filingshttps://www.sec.gov/cgi-bin/browse-edgar?action=getcompany&CIK=1993440&type=13F-HR&dateb=&owner=include&count=40CIK 1993440
- 2SEC: 13F for the quarter ended June 30, 2026https://www.sec.gov/Archives/edgar/data/1993440/000199344026000004/Filed August 14, 2026 · accession 0001993440-26-000004