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First Turn Management, LLC

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13F filer, CIK 1993440, DEL MAR, CA

First Turn Management, LLC reported $895,098,772 across 33 holdings for the quarter ended 2026-03-31, in a 13F-HR filed 2026-05-15. Its ten largest share positions make up 50.52% of the portfolio.

Filed (acceptance time not in the bulk data set), ingested 13F-HR 0001993440-26-000002

Period
2026-03-31
Reported value
$895M
Holdings
33
Top 10 weight
50.52%
New
5
Sold out
5

Largest buys vs the previous quarter

SecurityShares changeApprox. value
ELVNnew+623,839$24.5M
UTHRadded+41,146$24.4M
CELCnew+210,578$24M
DNTHnew+220,921$18.5M
PVLAnew+148,093$18.5M

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
TERNreduced-545,355-$28.8M
GHexited-271,685-$27.7M
ARGXexited-23,256-$19.6M
RVMDreduced-170,009-$16.5M
RYTMexited-146,303-$15.7M

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 2026

Share positions as resolved from 13F-HR 0001993440-26-000002, largest first. % of portfolio is the value over $895,098,772, the sum of the share positions whose value is usable for ratios (method).

SecurityHistorySharesValue% of portfolioChangeLatest eventTimeline
UTHRUNITED THERAPEUTICS CORP DELQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: 85,318 shares; 2025Q4: 63,580 shares; 2026Q1: 104,726 shares 104,726$62.1M6.94%+41,146Timeline
ABVXABIVAX SAQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: 291,820 shares; 2025Q4: 381,233 shares; 2026Q1: 465,869 shares 465,869$51.9M5.8%+84,636Timeline
BBIOBRIDGEBIO PHARMA INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q2: restricted; 2024Q3: 399,781 shares; 2024Q4: 452,290 shares; 2025Q1: 656,699 shares; 2025Q2: 551,684 shares; 2025Q3: 589,729 shares; 2025Q4: 595,473 shares; 2026Q1: 695,718 shares 695,718$51.7M5.77%+100,245Timeline
XENEXENON PHARMACEUTICALS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q2: restricted; 2024Q3: 325,218 shares; 2024Q4: 684,986 shares; 2025Q1: 683,451 shares; 2025Q2: 660,617 shares; 2025Q3: 799,743 shares; 2025Q4: 799,743 shares; 2026Q1: 786,844 shares 786,844$45.8M5.11%-12,899Timeline
RVMDREVOLUTION MEDICINES INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: 403,915 shares; 2025Q1: 340,109 shares; 2025Q2: 415,591 shares; 2025Q3: 643,050 shares; 2025Q4: 638,385 shares; 2026Q1: 468,376 shares 468,376$45.5M5.09%-170,009Timeline
APGEAPOGEE THERAPEUTICS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: 252,725 shares; 2025Q1: 229,675 shares; 2025Q2: 311,490 shares; 2025Q3: 402,811 shares; 2025Q4: 474,839 shares; 2026Q1: 513,770 shares 513,770$43.2M4.83%+38,931Timeline
INSMINSMED INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q2: restricted; 2024Q3: 356,451 shares; 2024Q4: 446,980 shares; 2025Q1: 401,629 shares; 2025Q2: 372,672 shares; 2025Q3: 319,773 shares; 2025Q4: 264,293 shares; 2026Q1: 248,475 shares 248,475$40.6M4.54%-15,818Timeline
NUVLNUVALENT INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q2: restricted; 2024Q3: 359,114 shares; 2024Q4: 309,521 shares; 2025Q1: 331,927 shares; 2025Q2: 320,798 shares; 2025Q3: 394,754 shares; 2025Q4: 368,697 shares; 2026Q1: 370,344 shares 370,344$37.9M4.24%+1,647Timeline
MIRMMIRUM PHARMACEUTICALS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q2: restricted; 2024Q3: 647,611 shares; 2024Q4: 506,908 shares; 2025Q1: 503,014 shares; 2025Q2: 527,540 shares; 2025Q3: 570,569 shares; 2025Q4: 481,564 shares; 2026Q1: 400,464 shares 400,464$37M4.13%-81,100Timeline
COGTCOGENT BIOSCIENCES INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: 824,283 shares; 2026Q1: 947,339 shares 947,339$36.5M4.07%+123,056Timeline
ROIVROIVANT SCIENCES LTDQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: 959,703 shares; 2025Q4: 1,186,817 shares; 2026Q1: 1,190,118 shares 1,190,118$33M3.68%+3,301Timeline
AXSMAXSOME THERAPEUTICS INC.Quarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q2: restricted; 2024Q3: 255,294 shares; 2024Q4: 192,146 shares; 2025Q1: 118,179 shares; 2025Q2: 144,400 shares; 2025Q3: 152,614 shares; 2025Q4: 206,921 shares; 2026Q1: 188,772 shares 188,772$31.9M3.56%-18,149Timeline
IDYAIDEAYA BIOSCIENCES INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: 723,653 shares; 2026Q1: 873,838 shares 873,838$29.1M3.25%+150,185Timeline
ORICORIC PHARMACEUTICALS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q2: restricted; 2024Q3: 1,451,037 shares; 2024Q4: 1,451,037 shares; 2025Q1: 2,027,430 shares; 2025Q2: 2,009,923 shares; 2025Q3: 2,159,474 shares; 2025Q4: 2,010,307 shares; 2026Q1: 2,017,284 shares 2,017,284$25.6M2.86%+6,977Timeline
ELVNENLIVEN THERAPEUTICS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q2: restricted; 2024Q3: 535,092 shares; 2024Q4: 535,092 shares; 2025Q1: 535,092 shares; 2025Q2: 509,987 shares; 2025Q3: 783,411 shares; 2025Q4: not reported; 2026Q1: 623,839 shares 623,839$24.5M2.73%newTimeline
CELCCELCUITY INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: not reported; 2026Q1: 210,578 shares 210,578$24M2.69%newTimeline
SRRKSCHOLAR ROCK HLDG CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: 459,727 shares; 2026Q1: 446,390 shares 446,390$21.9M2.45%-13,337Timeline
KYMRKYMERA THERAPEUTICS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: 277,726 shares; 2025Q4: 206,445 shares; 2026Q1: 254,672 shares 254,672$21.2M2.37%+48,227Timeline
CYTKCYTOKINETICS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q2: restricted; 2024Q3: 223,147 shares; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: 254,795 shares; 2025Q4: 325,668 shares; 2026Q1: 283,700 shares 283,700$18.7M2.09%-41,968Timeline
DNTHDIANTHUS THERAPEUTICS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: not reported; 2026Q1: 220,921 shares 220,921$18.5M2.07%newTimeline
PVLAPALVELLA THERAPEUTICS INC NEQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: not reported; 2026Q1: 148,093 shares 148,093$18.5M2.06%newTimeline
NAMSNEWAMSTERDAM PHARMA COMPANYQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: 521,097 shares; 2025Q3: 716,971 shares; 2025Q4: 893,473 shares; 2026Q1: 558,336 shares 558,336$17.9M2%-335,137Timeline
VRDNVIRIDIAN THERAPEUTICS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: 690,528 shares; 2026Q1: 911,337 shares 911,337$17.8M1.99%+220,809Timeline
ASNDASCENDIS PHARMA A/SQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q2: restricted; 2024Q3: 150,593 shares; 2024Q4: 87,804 shares; 2025Q1: 113,278 shares; 2025Q2: 134,687 shares; 2025Q3: 146,291 shares; 2025Q4: 131,808 shares; 2026Q1: 76,300 shares 76,300$17.5M1.95%-55,508Timeline
FULCFULCRUM THERAPEUTICS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: 1,892,683 shares; 2026Q1: 2,256,109 shares 2,256,109$17.3M1.93%+363,426Timeline
TERNTERNS PHARMACEUTICALS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: 872,049 shares; 2026Q1: 326,694 shares 326,694$17.2M1.92%-545,355Timeline
VERAVERA THERAPEUTICS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q2: restricted; 2024Q3: 326,494 shares; 2024Q4: 464,807 shares; 2025Q1: 623,612 shares; 2025Q2: 309,666 shares; 2025Q3: 354,529 shares; 2025Q4: 601,774 shares; 2026Q1: 422,023 shares 422,023$17M1.9%-179,751Timeline
NTRANATERA INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q2: restricted; 2024Q3: 155,650 shares; 2024Q4: 99,159 shares; 2025Q1: 139,942 shares; 2025Q2: 118,130 shares; 2025Q3: 80,875 shares; 2025Q4: 80,875 shares; 2026Q1: 81,077 shares 81,077$16.2M1.81%+202Timeline
ERASERASCA INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: not reported; 2026Q1: 867,639 shares 867,639$14M1.57%newTimeline
PRAXPRAXIS PRECISION MEDICINES IQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: 45,536 shares; 2025Q1: 71,775 shares; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: 35,749 shares; 2026Q1: 42,441 shares 42,441$13.7M1.53%+6,692Timeline
OLMAOLEMA PHARMACEUTICALS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: 617,714 shares; 2026Q1: 768,662 shares 768,662$11.5M1.28%+150,948Timeline
QUREUNIQURE NVQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: 321,655 shares; 2026Q1: 615,489 shares 615,489$10.1M1.12%+293,834Timeline
MLTXMOONLAKE IMMUNOTHERAPEUTICSQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: 179,196 shares; 2025Q2: not reported; 2025Q3: 262,643 shares; 2025Q4: 262,643 shares; 2026Q1: 315,563 shares 315,563$5.88M0.66%+52,920Timeline

Sold out in Q1 2026

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

SecurityShares beforeValue beforeType
GHGUARDANT HEALTH INC271,685$27.7Mshares
ARGXARGENX SE23,256$19.6Mshares
RYTMRHYTHM PHARMACEUTICALS INC146,303$15.7Mshares
RCUSARCUS BIOSCIENCES INC565,142$13.5Mshares
IRONDISC MEDICINE INC153,206$12.2Mshares

How Q1 2026 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 0001993440-26-000002 base2026-05-15acceptance time not in the bulk data set