Filed: 2/13/2026ACC: 0001993440-26-000001
📋 What this filing means
FIRST TURN MANAGEMENT, LLC filed this quarterly 13F‑HR report disclosing 33 equity positions with a total reported market value of $875.20M. This filing provides a transparent view of the manager's long equity holdings as of the quarter end.
33
Positions
$875.20M
Total AUM (reported)
17.57M
Total Shares
Allocation by class
COM$600.17M68.6%
SPONSORED ADS$51.41M5.9%
SPONSORED ADR$47.66M5.4%
COM PAR $.01$46.00M5.3%
SHS$33.45M3.8%
ORDINARY SHARES$31.34M3.6%
COM NEW$31.23M3.6%
Portfolio Concentration
Top 3$148.26M16.9%
4–10$265.38M30.3%
11–25$367.07M41.9%
Rest$94.50M10.8%
Top 3 weight
16.9%
Top 10 weight
47.3%
Voting Authority Distribution
Total shares with voting rights: 17.57M
Sole
Full voting authority
17.57M
shares
% of voting shares100.0%
Shared
Joint voting authority
0.00
shares
% of voting shares0.0%
None
No voting authority
0.00
shares
% of voting shares0.0%
Investment Discretion (by position count)
Sole33
Shared0
Other0
Dominant voting typeSole · 100.0% of voting shares
Institutional Holdings33
Rows:
ABIVAX SA
SOLEShares381.23K
TypeSH
Market value$51.41M
5.87%
Sole
381.23K
Shared
0.00
None
0.00
REVOLUTION MEDICINES INC
SOLEShares638.38K
TypeSH
Market value$50.85M
5.81%
Sole
638.38K
Shared
0.00
None
0.00
INSMED INC
SOLEShares264.29K
TypeSH
Market value$46.00M
5.26%
Sole
264.29K
Shared
0.00
None
0.00
BRIDGEBIO PHARMA INC
SOLEShares595.47K
TypeSH
Market value$45.55M
5.20%
Sole
595.47K
Shared
0.00
None
0.00
MIRUM PHARMACEUTICALS INC
SOLEShares481.56K
TypeSH
Market value$38.04M
4.35%
Sole
481.56K
Shared
0.00
None
0.00
AXSOME THERAPEUTICS INC
SOLEShares206.92K
TypeSH
Market value$37.79M
4.32%
Sole
206.92K
Shared
0.00
None
0.00
NUVALENT INC
SOLEShares368.70K
TypeSH
Market value$37.09M
4.24%
Sole
368.70K
Shared
0.00
None
0.00
XENON PHARMACEUTICALS INC
SOLEShares799.74K
TypeSH
Market value$35.84M
4.10%
Sole
799.74K
Shared
0.00
None
0.00
APOGEE THERAPEUTICS INC
SOLEShares474.84K
TypeSH
Market value$35.84M
4.10%
Sole
474.84K
Shared
0.00
None
0.00
TERNS PHARMACEUTICALS INC
SOLEShares872.05K
TypeSH
Market value$35.23M
4.03%
Sole
872.05K
Shared
0.00
None
0.00
NEWAMSTERDAM PHARMA COMPANY
SOLEShares893.47K
TypeSH
Market value$31.34M
3.58%
Sole
893.47K
Shared
0.00
None
0.00
UNITED THERAPEUTICS CORP DEL
SOLEShares63.58K
TypeSH
Market value$30.98M
3.54%
Sole
63.58K
Shared
0.00
None
0.00
VERA THERAPEUTICS INC
SOLEShares601.77K
TypeSH
Market value$30.47M
3.48%
Sole
601.77K
Shared
0.00
None
0.00
COGENT BIOSCIENCES INC
SOLEShares824.28K
TypeSH
Market value$29.28M
3.35%
Sole
824.28K
Shared
0.00
None
0.00
ASCENDIS PHARMA A/S
SOLEShares131.81K
TypeSH
Market value$28.11M
3.21%
Sole
131.81K
Shared
0.00
None
0.00
GUARDANT HEALTH INC
SOLEShares271.69K
TypeSH
Market value$27.75M
3.17%
Sole
271.69K
Shared
0.00
None
0.00
ROIVANT SCIENCES LTD
SOLEShares1.19M
TypeSH
Market value$25.75M
2.94%
Sole
1.19M
Shared
0.00
None
0.00
IDEAYA BIOSCIENCES INC
SOLEShares723.65K
TypeSH
Market value$25.02M
2.86%
Sole
723.65K
Shared
0.00
None
0.00
VIRIDIAN THERAPEUTICS INC
SOLEShares690.53K
TypeSH
Market value$21.49M
2.46%
Sole
690.53K
Shared
0.00
None
0.00
FULCRUM THERAPEUTICS INC
SOLEShares1.89M
TypeSH
Market value$21.41M
2.45%
Sole
1.89M
Shared
0.00
None
0.00
CYTOKINETICS INC
SOLEShares325.67K
TypeSH
Market value$20.69M
2.36%
Sole
325.67K
Shared
0.00
None
0.00
SCHOLAR ROCK HLDG CORP
SOLEShares459.73K
TypeSH
Market value$20.25M
2.31%
Sole
459.73K
Shared
0.00
None
0.00
ARGENX SE
SOLEShares23.26K
TypeSH
Market value$19.56M
2.23%
Sole
23.26K
Shared
0.00
None
0.00
NATERA INC
SOLEShares80.88K
TypeSH
Market value$18.53M
2.12%
Sole
80.88K
Shared
0.00
None
0.00
ORIC PHARMACEUTICALS INC
SOLEShares2.01M
TypeSH
Market value$16.44M
1.88%
Sole
2.01M
Shared
0.00
None
0.00
| Issuer | Class | Shares | Type | Value / Portfolio % | Voting — Sole | Shared | None |
|---|---|---|---|---|---|---|---|
ABIVAX SASOLE | SPONSORED ADS | 381.23K | SH | $51.41M 5.87% | 381.23K | 0.00 | 0.00 |
REVOLUTION MEDICINES INCSOLE | COM | 638.38K | SH | $50.85M 5.81% | 638.38K | 0.00 | 0.00 |
INSMED INCSOLE | COM PAR $.01 | 264.29K | SH | $46.00M 5.26% | 264.29K | 0.00 | 0.00 |
BRIDGEBIO PHARMA INCSOLE | COM | 595.47K | SH | $45.55M 5.20% | 595.47K | 0.00 | 0.00 |
MIRUM PHARMACEUTICALS INCSOLE | COM | 481.56K | SH | $38.04M 4.35% | 481.56K | 0.00 | 0.00 |
AXSOME THERAPEUTICS INCSOLE | COM | 206.92K | SH | $37.79M 4.32% | 206.92K | 0.00 | 0.00 |
NUVALENT INCSOLE | COM | 368.70K | SH | $37.09M 4.24% | 368.70K | 0.00 | 0.00 |
XENON PHARMACEUTICALS INCSOLE | COM | 799.74K | SH | $35.84M 4.10% | 799.74K | 0.00 | 0.00 |
APOGEE THERAPEUTICS INCSOLE | COM | 474.84K | SH | $35.84M 4.10% | 474.84K | 0.00 | 0.00 |
TERNS PHARMACEUTICALS INCSOLE | COM | 872.05K | SH | $35.23M 4.03% | 872.05K | 0.00 | 0.00 |
NEWAMSTERDAM PHARMA COMPANYSOLE | ORDINARY SHARES | 893.47K | SH | $31.34M 3.58% | 893.47K | 0.00 | 0.00 |
UNITED THERAPEUTICS CORP DELSOLE | COM | 63.58K | SH | $30.98M 3.54% | 63.58K | 0.00 | 0.00 |
VERA THERAPEUTICS INCSOLE | CL A | 601.77K | SH | $30.47M 3.48% | 601.77K | 0.00 | 0.00 |
COGENT BIOSCIENCES INCSOLE | COM | 824.28K | SH | $29.28M 3.35% | 824.28K | 0.00 | 0.00 |
ASCENDIS PHARMA A/SSOLE | SPONSORED ADR | 131.81K | SH | $28.11M 3.21% | 131.81K | 0.00 | 0.00 |
GUARDANT HEALTH INCSOLE | COM | 271.69K | SH | $27.75M 3.17% | 271.69K | 0.00 | 0.00 |
ROIVANT SCIENCES LTDSOLE | SHS | 1.19M | SH | $25.75M 2.94% | 1.19M | 0.00 | 0.00 |
IDEAYA BIOSCIENCES INCSOLE | COM | 723.65K | SH | $25.02M 2.86% | 723.65K | 0.00 | 0.00 |
VIRIDIAN THERAPEUTICS INCSOLE | COM | 690.53K | SH | $21.49M 2.46% | 690.53K | 0.00 | 0.00 |
FULCRUM THERAPEUTICS INCSOLE | COM | 1.89M | SH | $21.41M 2.45% | 1.89M | 0.00 | 0.00 |
CYTOKINETICS INCSOLE | COM NEW | 325.67K | SH | $20.69M 2.36% | 325.67K | 0.00 | 0.00 |
SCHOLAR ROCK HLDG CORPSOLE | COM | 459.73K | SH | $20.25M 2.31% | 459.73K | 0.00 | 0.00 |
ARGENX SESOLE | SPONSORED ADR | 23.26K | SH | $19.56M 2.23% | 23.26K | 0.00 | 0.00 |
NATERA INCSOLE | COM | 80.88K | SH | $18.53M 2.12% | 80.88K | 0.00 | 0.00 |
ORIC PHARMACEUTICALS INCSOLE | COM | 2.01M | SH | $16.44M 1.88% | 2.01M | 0.00 | 0.00 |
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