First Turn Management, LLC reported 28 positions worth $847.76M for the quarter ended Jun 30, 2026, up 13.8% on the prior quarter. It opened 5 new positions, added to 13, trimmed 9 and exited 6. Its largest holding is Revolution Medicines, Inc. at 9.2% of the portfolio.
Reported 13F market value at each quarter end. A change mixes trading with price moves in the positions held.
Dollar value of shares bought and sold each quarter, at that quarter’s price. It counts trading only, not price changes.
How many positions were opened, added to, trimmed or closed each quarter.
Share of reported value in each sector at every quarter end.
| Holding | Change | Change % | Trade Value | Weight |
|---|---|---|---|---|
| PCVX Vaxcyte, Inc. | +443.8K | – | $25.80M | 3.04% |
| CYTK Cytokinetics Inc | +243.7K | +85.9% | $20.76M | 5.3% |
| RYTM Rhythm Pharmaceuticals, Inc. | +154.0K | – | $17.10M | 2.02% |
| ELVN Enliven Therapeutics, Inc. | +330.5K | +53.0% | $16.77M | 5.71% |
| INBX Inhibrx Biosciences, Inc. | +164.8K | – | $15.61M | 1.84% |
| ORKA Oruka Therapeutics, Inc. | +155.3K | – | $14.78M | 1.74% |
| VRDN Viridian Therapeutics, Inc.\DE | +758.7K | +83.2% | $13.94M | 3.62% |
| PRAX Praxis Precision Medicines, Inc. | +41.1K | +96.8% | $13.76M | 3.3% |
| CELC Celcuity Inc. | +118.5K | +56.3% | $12.40M | 4.06% |
| ASND Ascendis Pharma A/S | +28.6K | +37.5% | $7.62M | 3.3% |
| Holding | Change | Change % | Trade Value | Weight |
|---|---|---|---|---|
| IDYA IDEAYA Biosciences, Inc. | -873.8K | -100.0% | $29.12M | Exited |
| MIRM Mirum Pharmaceuticals, Inc. | -182.4K | -45.6% | $21.36M | 3.01% |
| KYMR Kymera Therapeutics, Inc. | -152.1K | -59.7% | $17.45M | 1.39% |
| FULC Fulcrum Therapeutics, Inc. | -2.26M | -100.0% | $17.30M | Exited |
| VERA Vera Therapeutics, Inc. | -422.0K | -100.0% | $16.98M | Exited |
| NTRA Natera, Inc. | -81.1K | -100.0% | $16.21M | Exited |
| COGT Cogent Biosciences, Inc. | -345.1K | -36.4% | $13.35M | 2.75% |
| OLMA Olema Pharmaceuticals, Inc. | -768.7K | -100.0% | $11.46M | Exited |
| XENE Xenon Pharmaceuticals Inc. | -186.6K | -23.7% | $11.27M | 4.27% |
| UTHR UNITED THERAPEUTICS Corp | -19.8K | -18.9% | $10.72M | 5.43% |
| Holding | Shares Sold | Trade Value | Prior Weight |
|---|---|---|---|
| IDYA IDEAYA Biosciences, Inc. | -873.8K | $29.12M | 3.91% |
| FULC Fulcrum Therapeutics, Inc. | -2.26M | $17.30M | 2.32% |
| VERA Vera Therapeutics, Inc. | -422.0K | $16.98M | 2.28% |
| NTRA Natera, Inc. | -81.1K | $16.21M | 2.18% |
| OLMA Olema Pharmaceuticals, Inc. | -768.7K | $11.46M | 1.54% |
| MLTX MoonLake Immunotherapeutics | -315.6K | $5.88M | 0.79% |
| # | Activity | ||||||||
|---|---|---|---|---|---|---|---|---|---|
| 1 | RVMD Revolution Medicines, Inc. | Healthcare | 415.3K | $77.78M | 9.17% | -53.1K | -11.3% | Reduced | 0.19% |
| 2 | AXSM Axsome Therapeutics, Inc. | Healthcare | 218.4K | $53.46M | 6.31% | +29.6K | +15.7% | Added | 0.42% |
| 3 | ELVN Enliven Therapeutics, Inc. | Healthcare | 954.4K | $48.43M | 5.71% | +330.5K | +53.0% | Added | 1.3% |
| 4 | BBIO BridgeBio Pharma, Inc. | Healthcare | 633.4K | $47.17M | 5.56% | -62.4K | -9.0% | Reduced | 0.32% |
| 5 | ROIV Roivant Sciences Ltd. | Healthcare | 1.33M | $47.11M | 5.56% | +140.9K | +11.8% | Added | 0.18% |
| 6 | UTHR UNITED THERAPEUTICS Corp | Healthcare | 84.9K | $46.02M | 5.43% | -19.8K | -18.9% | Reduced | 0.2% |
| 7 | CYTK Cytokinetics Inc | Healthcare | 527.4K | $44.93M | 5.3% | +243.7K | +85.9% | Added | 0.38% |
| 8 | XENE Xenon Pharmaceuticals Inc. | Healthcare | 600.2K | $36.23M | 4.27% | -186.6K | -23.7% | Reduced | 0.6% |
| 9 | CELC Celcuity Inc. | Healthcare | 329.1K | $34.43M | 4.06% | +118.5K | +56.3% | Added | 0.6% |
| 10 | VRDN Viridian Therapeutics, Inc.\DE | Healthcare | 1.67M | $30.68M | 3.62% | +758.7K | +83.2% | Added | 1.47% |
| 11 | INSM INSMED Inc | Healthcare | 263.9K | $28.13M | 3.32% | +15.4K | +6.2% | Added | 0.12% |
| 12 | QURE uniQure N.V. | Healthcare | 608.9K | $28.05M | 3.31% | -6,564 | -1.1% | Reduced | 0.88% |
| 13 | ASND Ascendis Pharma A/S | Healthcare | 104.9K | $27.97M | 3.3% | +28.6K | +37.5% | Added | 0.17% |
| 14 | PRAX Praxis Precision Medicines, Inc. | Healthcare | 83.5K | $27.96M | 3.3% | +41.1K | +96.8% | Added | 0.29% |
| 15 | DNTH Dianthus Therapeutics, Inc. | Healthcare | 285.8K | $27.86M | 3.29% | +64.9K | +29.4% | Added | 0.51% |
Tip. Select a row to see that position’s full history at First Turn Management.
As of its Q2 2026 13F filing, First Turn Management, LLC’s five largest positions were Revolution Medicines, Inc. (RVMD) at 9.2%, Axsome Therapeutics, Inc. (AXSM) at 6.3%, Enliven Therapeutics, Inc. (ELVN) at 5.7%, BridgeBio Pharma, Inc. (BBIO) at 5.6%, Roivant Sciences Ltd. (ROIV) at 5.6% of the reported portfolio.
First Turn Management, LLC reported a 13F portfolio worth $847.76M across 28 positions for Q2 2026. That is up 13.8% from the previous quarter.
Its largest purchases by value were Vaxcyte, Inc. ($25.80M), Cytokinetics Inc ($20.76M), Rhythm Pharmaceuticals, Inc. ($17.10M). It opened 5 new positions.
Its largest sales by value were IDEAYA Biosciences, Inc. ($29.12M), Mirum Pharmaceuticals, Inc. ($21.36M), Kymera Therapeutics, Inc. ($17.45M). It exited 6 positions entirely.
From the Form 13F-HR reports First Turn Management, LLC files with the SEC each quarter, within 45 days of quarter end. A 13F lists long positions in US-listed equities and options; it excludes short positions, cash, bonds and most non-US holdings.
13F data reflects long positions in US-listed equities and options as reported to the SEC up to 45 days after quarter end. It excludes short positions, cash, bonds and most non-US securities, so it is not a complete picture of a manager’s assets.