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First Turn Management, LLC

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13F filer, CIK 1993440, DEL MAR, CA

First Turn Management, LLC reported $496,050,761 across 35 holdings for the quarter ended 2025-03-31, in a 13F-HR filed 2025-05-15. Its ten largest share positions make up 46.81% of the portfolio.

Filed (acceptance time not in the bulk data set), ingested 13F-HR 0001085146-25-003195

Period
2025-03-31
Reported value
$496M
Holdings
35
Top 10 weight
46.81%
New
8
Sold out
9

Largest buys vs the previous quarter

SecurityShares changeApprox. value
BSXnew+178,156$18M
TGTXnew+400,644$15.8M
GHnew+315,737$13.5M
SPRINGWORKS THERAPEUTICS INCnew+304,076$13.4M
PODDnew+49,350$13M

Ranked by the share change valued at this quarter's implied price (value over shares in the 13F). A position sold out is valued at the previous quarter's price, its last report.

Largest sells vs the previous quarter

SecurityShares changeApprox. value
INTRA-CELLULAR THERAPIES INCexited-294,414-$24.6M
CRNXexited-453,376-$23.2M
GERNexited-3,893,327-$13.8M
VERONA PHARMA PLCreduced-206,516-$13.1M
DAWNexited-947,878-$12M

Ranked by the share change valued at this quarter's implied price (value over shares in the 13F). A position sold out is valued at the previous quarter's price, its last report.

Holdings, Q1 2025

Share positions as resolved from 13F-HR 0001085146-25-003195, largest first. % of portfolio is the value over $496,050,761, the sum of the share positions whose value is usable for ratios (method).

SecurityHistorySharesValue% of portfolioChangeLatest eventTimeline
INSMINSMED INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 356,451 shares; 2024Q4: 446,980 shares; 2025Q1: 401,629 shares 401,629$30.6M6.18%-45,351Timeline
VERONA PHARMA PLCVERONA PHARMA PLCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 572,928 shares; 2024Q4: 641,901 shares; 2025Q1: 435,385 shares 435,385$27.6M5.57%-206,516
ARGXARGENX SEQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 54,440 shares; 2024Q4: 43,078 shares; 2025Q1: 41,911 shares 41,911$24.8M5%-1,167Timeline
NUVLNUVALENT INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 359,114 shares; 2024Q4: 309,521 shares; 2025Q1: 331,927 shares 331,927$23.5M4.75%+22,406Timeline
XENEXENON PHARMACEUTICALS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 325,218 shares; 2024Q4: 684,986 shares; 2025Q1: 683,451 shares 683,451$22.9M4.62%-1,535Timeline
BBIOBRIDGEBIO PHARMA INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 399,781 shares; 2024Q4: 452,290 shares; 2025Q1: 656,699 shares 656,699$22.7M4.58%+204,409Timeline
MIRMMIRUM PHARMACEUTICALS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 647,611 shares; 2024Q4: 506,908 shares; 2025Q1: 503,014 shares 503,014$22.7M4.57%-3,894Timeline
NTRANATERA INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 155,650 shares; 2024Q4: 99,159 shares; 2025Q1: 139,942 shares 139,942$19.8M3.99%+40,783Timeline
MERUS N VMERUS N VQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 308,014 shares; 2024Q4: 285,159 shares; 2025Q1: 463,960 shares 463,960$19.5M3.94%+178,801
BSXBOSTON SCIENTIFIC CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: 178,156 shares 178,156$18M3.62%newTimeline
ASNDASCENDIS PHARMA A/SQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 150,593 shares; 2024Q4: 87,804 shares; 2025Q1: 113,278 shares 113,278$17.7M3.56%+25,474Timeline
TGTXTG THERAPEUTICS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: 400,644 shares 400,644$15.8M3.18%newTimeline
VERAVERA THERAPEUTICS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 326,494 shares; 2024Q4: 464,807 shares; 2025Q1: 623,612 shares 623,612$15M3.02%+158,805Timeline
AXSMAXSOME THERAPEUTICS INC.Quarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 255,294 shares; 2024Q4: 192,146 shares; 2025Q1: 118,179 shares 118,179$13.8M2.78%-73,967Timeline
GHGUARDANT HEALTH INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: 315,737 shares 315,737$13.5M2.71%newTimeline
SPRINGWORKS THERAPEUTICS INCSPRINGWORKS THERAPEUTICS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: 304,076 shares 304,076$13.4M2.71%new
GKOSGLAUKOS CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 96,097 shares; 2024Q4: 96,097 shares; 2025Q1: 136,241 shares 136,241$13.4M2.7%+40,144Timeline
EXASEXACT SCIENCES CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: 309,890 shares; 2025Q1: 300,909 shares 300,909$13M2.63%-8,981Timeline
PODDINSULET CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: 49,350 shares 49,350$13M2.61%newTimeline
RVMDREVOLUTION MEDICINES INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: 403,915 shares; 2025Q1: 340,109 shares 340,109$12M2.42%-63,806Timeline
JANXJANUX THERAPEUTICS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: 383,602 shares; 2025Q1: 430,163 shares 430,163$11.6M2.34%+46,561Timeline
ORICORIC PHARMACEUTICALS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 1,451,037 shares; 2024Q4: 1,451,037 shares; 2025Q1: 2,027,430 shares 2,027,430$11.3M2.28%+576,393Timeline
ADMAADMA BIOLOGICS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 664,985 shares; 2024Q4: 684,230 shares; 2025Q1: 566,945 shares 566,945$11.2M2.27%-117,285Timeline
ISRGINTUITIVE SURGICAL INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 30,254 shares; 2024Q4: 35,032 shares; 2025Q1: 22,109 shares 22,109$10.9M2.21%-12,923Timeline
ELVNENLIVEN THERAPEUTICS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 535,092 shares; 2024Q4: 535,092 shares; 2025Q1: 535,092 shares 535,092$10.5M2.12%0Timeline
PCVXVAXCYTE INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 211,985 shares; 2024Q4: 276,905 shares; 2025Q1: 276,905 shares 276,905$10.5M2.11%0Timeline
APGEAPOGEE THERAPEUTICS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: 252,725 shares; 2025Q1: 229,675 shares 229,675$8.58M1.73%-23,050Timeline
SPRYARS PHARMACEUTICALS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 593,291 shares; 2024Q4: 593,291 shares; 2025Q1: 669,010 shares 669,010$8.42M1.7%+75,719Timeline
BLUEPRINT MEDICINES CORPBLUEPRINT MEDICINES CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 178,929 shares; 2024Q4: 67,143 shares; 2025Q1: 92,033 shares 92,033$8.15M1.64%+24,890
RDNTRADNET INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: 157,615 shares 157,615$7.84M1.58%newTimeline
HQYHEALTHEQUITY INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: 125,867 shares; 2025Q1: 83,966 shares 83,966$7.42M1.5%-41,901Timeline
MLTXMOONLAKE IMMUNOTHERAPEUTICSQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: 179,196 shares 179,196$7M1.41%newTimeline
HROWHARROW INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 326,582 shares; 2024Q4: 304,874 shares; 2025Q1: 188,829 shares 188,829$5.02M1.01%-116,045Timeline
PRAXPRAXIS PRECISION MEDICINES IQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: 45,536 shares; 2025Q1: 71,775 shares 71,775$2.72M0.55%+26,239Timeline
SLNOSOLENO THERAPEUTICS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: 29,115 shares 29,115$2.08M0.42%newTimeline

Sold out in Q1 2025

Positions in the previous quarter's report that this quarter's report no longer lists.

SecurityShares beforeValue beforeType
INTRA-CELLULAR THERAPIES INCINTRA-CELLULAR THERAPIES INC294,414$24.6Mshares
CRNXCRINETICS PHARMACEUTICALS IN453,376$23.2Mshares
GERNGERON CORP3,893,327$13.8Mshares
DAWNDAY ONE BIOPHARMACEUTICALS I947,878$12Mshares
ACLXARCELLX INC152,356$11.7Mshares
BHVNBIOHAVEN LTD262,442$9.8Mshares
CRMDCORMEDIX INC1,021,421$8.27Mshares
BCAXBICARA THERAPEUTICS INC346,170$6.03Mshares
SNDXSYNDAX PHARMACEUTICALS INC441,587$5.84Mshares

How Q1 2025 was built

Available 13F filings of this filer for the quarter and their roles: the base report is the latest original or restatement, NEW HOLDINGS amendments filed after it are added (method).

FilingRoleAmendmentFiledAcceptedIngested
13F-HR 0001085146-25-003195 base2025-05-15acceptance time not in the bulk data set