First Turn Management, LLC

Q1 2026 13F-HR Holdings

Location
Del Mar, CA
Holdings as of
3/31/2026
Date filed
5/15/2026
Form type
13F-HR
Num holdings
33
Total value ($000)
$895,099
Net value change ($000)
+19,895 (2.3%)
New positions
5
Sold out positions
5
Turnover %
21.0%
Sector allocation + QoQ delta (equities-only)
Prev filing: 2/13/2026 Next filing: — SEC filing

Snapshot: Change Analysis

Compared to Q4 2025
Methodology: sector metrics are equities-only; instrument mix chart is ex-options; options exposure is shown separately. Why this matters.
Top Adds (Value $000, Stocks/ETFs)
UTHR 31,121 100.5%
ELVN 24,454 NEW
CELC 24,035 NEW
DNTH 18,540 NEW
PVLA 18,460 NEW
ERAS 14,038 NEW
XENE 9,911 27.7%
ORIC 9,115 55.4%
APGE 7,403 20.7%
ROIV 7,212 28.0%
Top Reduces (Value $000, Stocks/ETFs)
GH -27,750 -100.0%
ARGX -19,557 -100.0%
TERN -18,008 -51.1%
RYTM -15,660 -100.0%
VERA -13,496 -44.3%
NAMS -13,471 -43.0%
RCUS -13,467 -100.0%
IRON -12,166 -100.0%
ASND -10,655 -37.9%
AXSM -5,886 -15.6%
Instrument mix + QoQ Δ (ex-options)
How this table is calculated: SEC VALUE ($000) is used as reported. For derivatives (PUT/CALL/WARRANT/RIGHT), SEC value represents reported underlying exposure, not premium cash paid/received. Column % is bucket-based: non-options share is calculated inside non-option total, options share is calculated inside options total. Details.
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Instrument:
Issuer Name Ticker Sector Industry Class History Value ($000) % Shares Shares Δ Shares Δ% Value Δ ($000) Value Δ% Principal Option Type