Q2 2025 · 13F-HR
First Turn Management, LLCholdings as filed
Filed 2025-08-14 · accession 0001085146-25-005077
$536.0M
Reported value
35
Positions
2025-06-30
Period end
The Brief · First Turn Management, LLC · Q2 2025
AI · grounded in 13F
First Turn Management, LLC established a new position in INSM valued at $37.5M. The fund also initiated new stakes in VRNA for $29.3M and MIRM for $26.8M. Other new additions include NUVL, ARGX, and BBIO. The fund ended the period with 35 positions and total AUM of $536M.
Holdings as filed
| CUSIP | Ticker | Issuer | Value | % port. | Shares | Class | Voting |
|---|---|---|---|---|---|---|---|
| 457669307 | INSM | INSMED INC | $37.5M | 7.00% | 372,672 | Common | SOLE |
| 925050106 | VRNA | VERONA PHARMA PLC | $29.3M | 5.47% | 309,988 | Common | SOLE |
| 604749101 | MIRM | MIRUM PHARMACEUTICALS INC | $26.8M | 5.01% | 527,540 | Common | SOLE |
| 670703107 | NUVL | NUVALENT INC | $24.5M | 4.57% | 320,798 | Common | SOLE |
| 04016X101 | ARGX | ARGENX SE | $24.2M | 4.52% | 43,953 | Common | SOLE |
| 10806X102 | BBIO | BRIDGEBIO PHARMA INC | $23.8M | 4.44% | 551,684 | Common | SOLE |
| 04351P101 | ASNDUSD | ASCENDIS PHARMA A/S | $23.2M | 4.34% | 134,687 | Common | SOLE |
| 98420N105 | XENE | XENON PHARMACEUTICALS INC | $20.7M | 3.86% | 660,617 | Common | SOLE |
| 68622P109 | ORIC | ORIC PHARMACEUTICALS INC | $20.4M | 3.81% | 2,009,923 | Common | SOLE |
| 632307104 | NTRA | NATERA INC | $20.0M | 3.72% | 118,130 | Common | SOLE |
| 000899104 | ADMA | ADMA BIOLOGICS INC | $19.9M | 3.71% | 1,092,361 | Common | SOLE |
| 46120E602 | ISRG | INTUITIVE SURGICAL INC | $17.6M | 3.27% | 32,305 | Common | SOLE |
| 45784P101 | PODD | INSULET CORP | $16.2M | 3.01% | 51,408 | Common | SOLE |
| 88322Q108 | TGTX | TG THERAPEUTICS INC | $16.1M | 3.01% | 447,884 | Common | SOLE |
| 254604101 | IRON | DISC MEDICINE INC | $15.9M | 2.96% | 299,464 | Common | SOLE |
| 40131M109 | GH | GUARDANT HEALTH INC | $15.7M | 2.93% | 302,307 | Common | SOLE |
| N5749R100 | 2GH | MERUS N V | $15.4M | 2.87% | 292,964 | Common | SOLE |
| 76155X100 | RVMD | REVOLUTION MEDICINES INC | $15.3M | 2.85% | 415,591 | Common | SOLE |
| 05464T104 | AXSM | AXSOME THERAPEUTICS INC | $15.1M | 2.81% | 144,400 | Common | SOLE |
| 101137107 | BSX | BOSTON SCIENTIFIC CORP | $14.9M | 2.78% | 138,834 | Common | SOLE |
| 03940C100 | ACLXGBX | ARCELLX INC | $14.2M | 2.64% | 215,223 | Common | SOLE |
| 03770N101 | APGE | APOGEE THERAPEUTICS INC | $13.5M | 2.52% | 311,490 | Common | SOLE |
| 750491102 | RDNT | RADNET INC | $11.3M | 2.10% | 197,759 | Common | SOLE |
| 47103J105 | JANX | JANUX THERAPEUTICS INC | $10.3M | 1.93% | 447,420 | Common | SOLE |
| 29337E102 | ELVN | ENLIVEN THERAPEUTICS INC | $10.2M | 1.91% | 509,987 | Common | SOLE |
| N62509109 | NAMS | NEWAMSTERDAM PHARMA COMPANY | $9.4M | 1.76% | 521,097 | Common | SOLE |
| 42226A107 | HQY | HEALTHEQUITY INC | $8.5M | 1.58% | 80,880 | Common | SOLE |
| 82835W108 | SPRY | ARS PHARMACEUTICALS INC | $8.0M | 1.48% | 455,953 | Common | SOLE |
| 92337R101 | VERA | VERA THERAPEUTICS INC | $7.3M | 1.36% | 309,666 | Common | SOLE |
| 834203309 | SLNO | SOLENO THERAPEUTICS INC | $7.2M | 1.35% | 86,332 | Common | SOLE |
| 415858109 | HROW | HARROW INC | $7.0M | 1.30% | 228,761 | Common | SOLE |
| 00973Y108 | AKRO | AKERO THERAPEUTICS INC | $6.1M | 1.14% | 114,554 | Common | SOLE |
| 02043Q107 | ALNY | ALNYLAM PHARMACEUTICALS INC | $5.8M | 1.09% | 17,879 | Common | SOLE |
| 483497103 | KALV | KALVISTA PHARMACEUTICALS INC | $2.4M | 0.45% | 214,138 | Common | SOLE |
| 08659B102 | BBNX | BETA BIONICS INC | $2.3M | 0.43% | 157,194 | Common | SOLE |
Source: SEC EDGAR · raw 13F holdings as filed. The Class column shows the option type when reported (Put/Call) or Common when the issuer's equity is held directly. 13F discloses long positions only.