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Q2 2026 13F · SEC CIK 1993440

First Turn Management, LLC

Institutional asset managerFiled 2026-08-14 for Q2 2026. Open the filing ↗ · All SEC filings ↗

Reported 13F value
$934.7M
Reported positions
31
Top holdings a year, 3 yrs
+15.8%
Assets under management
$900.1M

First Turn Management, LLC is an institutional asset manager that reported 31 positions worth $934.7M in its Q2 2026 13F, filed 2026-08-14. Its largest holdings were Revolution Medicines Inc (RVMD, 8.3%), Abivax SA (ABVX, 7.0%), Axsome Therapeutics, Inc. (AXSM, 5.7%). A portfolio copying its top holdings returned 15.8% a year over the last 3 years, against 16.5% for the S&P 500.

First Turn Management, LLC holdings all 31 positions.

Weights are shares of the filer's total reported 13F value, compared with Q1 2026. Share changes may reflect splits; weight changes also reflect price moves. A 13F shows long US-listed positions only, up to 135 days after the fact.

First Turn Management, LLC 13F holdings
Stock% of 13F valueShare changeReported value
RVMDRevolution Medicines Inc8.3%-11.3%$77.8M
ABVXAbivax SA7.0%+5.2%$65.3M
AXSMAxsome Therapeutics, Inc.5.7%+15.7%$53.5M
ELVNEnliven Therapeutics Inc5.2%+53.0%$48.4M
BBIOBridgebio Pharma Inc5.0%-9.0%$47.2M
ROIVRoivant Sciences Ltd5.0%+11.8%$47.1M
UTHRUnited Therapeutics Corp Del4.9%-18.9%$46.0M
CYTKCytokinetics4.8%+85.9%$44.9M
XENEXenon Pharmaceuticals Inc3.9%-23.7%$36.2M
CELCCelcuity Inc3.7%+56.3%$34.4M
VRDNViridian Therapeutics Inc3.3%+83.2%$30.7M
INSMInsmed Inc3.0%+6.2%$28.1M
QUREUniqure NV3.0%-1.1%$28.0M
ASNDAscendis Pharma A/s3.0%—$28.0M
PRAXPraxis Precision Medicines I3.0%+96.8%$28.0M
DNTHDianthus Therapeutics Inc3.0%+29.4%$27.9M
PCVXVaxcyte Inc2.8%—$25.8M
MIRMMirum Pharmaceuticals Inc2.7%-45.6%$25.5M
PVLAPalvella Therapeutics Inc Ne2.6%+5.6%$23.9M
COGTCogent Biosciences Inc2.5%-36.4%$23.3M
ERASErasca, Inc.2.4%+40.8%$22.4M
ORICOric Pharmaceuticals Inc2.3%+0.0%$21.8M
NAMSNewamsterdam Pharma Company Ordinary2.1%+4.3%$19.7M
APGEApogee Therapeutics Inc2.0%-73.0%$18.4M
RYTMRhythm Pharmaceuticals Inc1.8%—$17.1M
INBXInhibrx Biosciences Inc1.7%—$15.6M
SRRKScholar Rock Hldg Corp1.6%-39.2%$14.9M
ORKAOruka Therapeutics Inc1.6%—$14.8M
KYMRKymera Therapeutics Inc1.3%-59.7%$11.8M
829401108Sionna Therapeutics Inc0.5%—$4.9M
NUVLNuvalent Inc0.3%-92.9%$3.2M

What First Turn Management, LLC bought and sold in Q2 2026, against Q1 2026.

New positions

Added to

Reduced

Sold out

Share counts compared with the Q1 2026 13F; a split also changes share counts.

How the holdings did against the S&P 500.

1 year
+9.1% /yr
S&P 500 +11.7%
3 years
+15.8% /yr
S&P 500 +16.5%
5 years
—

A portfolio of the filer's 20 largest 13F positions, weighted by value, bought the trading day after each 13F was filed and held until the next one was: what copying this filer could have earned. 13Fs show long US-listed positions only, so this is an estimate of the stock picks, not the fund's reported returns.

Reported 13F value by quarter.

13F value by quarter
Quarter13F valuePositions
Q2 2026$934.7M31
Q1 2026$895.1M33
Q4 2025$875.2M33
Q3 2025$666.0M29
Q2 2025$536.0M35
Q1 2025$496.1M35
Q4 2024$558.3M36
Q3 2024$631.6M38
Q2 2024$614.7M36
Q1 2024$668.5M34
Q4 2023$696.3M31

Questions about First Turn Management, LLC's portfolio

What stocks does First Turn Management, LLC own?

First Turn Management, LLC's latest 13F, for Q2 2026 and filed Aug 14, 2026, lists 31 positions worth $934.7M. The largest are Revolution Medicines Inc (RVMD) at 8.3%, Abivax SA (ABVX) at 7.0%, Axsome Therapeutics, Inc. (AXSM) at 5.7%, Enliven Therapeutics Inc (ELVN) at 5.2% and Bridgebio Pharma Inc (BBIO) at 5.0%.

What did First Turn Management, LLC buy last quarter?

In Q2 2026, First Turn Management, LLC added a new position in Ascendis Pharma A/s (ASND), a new position in Vaxcyte Inc (PCVX), a new position in Rhythm Pharmaceuticals Inc (RYTM), a new position in Inhibrx Biosciences Inc (INBX), a new position in Oruka Therapeutics Inc (ORKA), Praxis Precision Medicines I (PRAX) (+96.8% shares), Cytokinetics (CYTK) (+85.9% shares) and Viridian Therapeutics Inc (VRDN) (+83.2% shares), compared with its Q1 2026 filing.

What did First Turn Management, LLC sell last quarter?

In Q2 2026, First Turn Management, LLC sold all of Ideaya Biosciences Inc (IDYA), sold all of Ascendis Pharma A/s, sold all of Fulcrum Therapeutics Inc (FULC), sold all of Terns Pharmaceuticals Inc (TERN), sold all of Vera Therapeutics Inc Class A (VERA), Nuvalent Inc (NUVL) (-92.9% shares), Apogee Therapeutics Inc (APGE) (-73.0% shares) and Kymera Therapeutics Inc (KYMR) (-59.7% shares), compared with its Q1 2026 filing.

How has First Turn Management, LLC's portfolio performed?

A portfolio copying First Turn Management, LLC's 20 largest 13F holdings each quarter, from the day each filing was public, returned +15.8% a year over the last 3 years, against +16.5% for the S&P 500. Over 1 year: +9.1% against +11.7%.

When is First Turn Management, LLC's next 13F filing due?

13F filings are due 45 days after each quarter ends. First Turn Management, LLC's filing for the quarter ending Sep 30, 2026 is due by Nov 14, 2026; this page updates the day after it is published.

How much money does First Turn Management, LLC manage?

First Turn Management, LLC reported $900.1M of regulatory assets under management on its latest SEC Form ADV. Its 13F, which covers only US-listed stocks and options, totals $934.7M.