First Turn Management, LLC Diversified Active

Location: Del Mar, CA

CIK: 0001993440 · Show all filings

Period: Q1 2025 (← Previous) (Next →)

Filing Date: May 15, 2025

Total Value: $496M (100.0% shares, 0.0% debt)

Holdings (35)

INSM INSMED INC 6.2%

Value $30.64M Shares 401,629 Est. Cost $48.11 Unrealized +59.0%

— VERONA PHARMA PLC 5.6%

Value $27.64M Shares 435,385 Est. Cost $30.67 Unrealized —

ARGX ARGENX SE 5.0%

Value $24.81M Shares 41,911 Est. Cost $380.43 Unrealized —

NUVL NUVALENT INC 4.7%

Value $23.54M Shares 331,927 Est. Cost $69.26 Unrealized +12.9%

XENE XENON PHARMACEUTICALS INC 4.6%

Value $22.93M Shares 683,451 Est. Cost $38.49 Unrealized -1.4%

BBIO BRIDGEBIO PHARMA INC 4.6%

Value $22.7M Shares 656,699 Est. Cost $28.54 Unrealized +18.1%

MIRM MIRUM PHARMACEUTICALS INC 4.6%

Value $22.66M Shares 503,014 Est. Cost $29.91 Unrealized +57.6%

NTRA NATERA INC 4.0%

Value $19.79M Shares 139,942 Est. Cost $128.20 Unrealized +25.4%

— MERUS N V 3.9%

Value $19.53M Shares 463,960 Est. Cost $52.59 Unrealized —

BSX BOSTON SCIENTIFIC CORP 3.6%

Value $17.97M Shares 178,156 Est. Cost $100.70 Unrealized 0.0%

ASND ASCENDIS PHARMA A/S 3.6%

Value $17.66M Shares 113,278 Est. Cost $134.19 Unrealized —

TGTX TG THERAPEUTICS INC 3.2%

Value $15.8M Shares 400,644 Est. Cost $33.65 Unrealized 0.0%

VERA VERA THERAPEUTICS INC 3.0%

Value $14.98M Shares 623,612 Est. Cost $37.69 Unrealized -14.8%

AXSM AXSOME THERAPEUTICS INC 2.8%

Value $13.78M Shares 118,179 Est. Cost $69.19 Unrealized +64.7%

GH GUARDANT HEALTH INC 2.7%

Value $13.45M Shares 315,737 Est. Cost $43.14 Unrealized 0.0%

— SPRINGWORKS THERAPEUTICS INC 2.7%

Value $13.42M Shares 304,076 Est. Cost $44.13 Unrealized —

GKOS GLAUKOS CORP 2.7%

Value $13.41M Shares 136,241 Est. Cost $127.08 Unrealized +5.0%

EXAS EXACT SCIENCES CORP 2.6%

Value $13.03M Shares 300,909 Est. Cost $62.23 Unrealized -18.6%

PODD INSULET CORP 2.6%

Value $12.96M Shares 49,350 Est. Cost $270.64 Unrealized 0.0%

RVMD REVOLUTION MEDICINES INC 2.4%

Value $12.03M Shares 340,109 Est. Cost $50.47 Unrealized -19.6%

JANX JANUX THERAPEUTICS INC 2.3%

Value $11.61M Shares 430,163 Est. Cost $51.25 Unrealized -26.4%

ORIC ORIC PHARMACEUTICALS INC 2.3%

Value $11.31M Shares 2,027,430 Est. Cost $10.41 Unrealized -16.0%

ADMA ADMA BIOLOGICS INC 2.3%

Value $11.25M Shares 566,945 Est. Cost $15.64 Unrealized +10.6%

ISRG INTUITIVE SURGICAL INC 2.2%

Value $10.95M Shares 22,109 Est. Cost $415.00 Unrealized +33.3%

ELVN ENLIVEN THERAPEUTICS INC 2.1%

Value $10.53M Shares 535,092 Est. Cost $21.53 Unrealized -0.1%

PCVX VAXCYTE INC 2.1%

Value $10.46M Shares 276,905 Est. Cost $63.04 Unrealized +26.8%

APGE APOGEE THERAPEUTICS INC 1.7%

Value $8.581M Shares 229,675 Est. Cost $51.00 Unrealized -24.2%

SPRY ARS PHARMACEUTICALS INC 1.7%

Value $8.416M Shares 669,010 Est. Cost $11.91 Unrealized +1.0%

— BLUEPRINT MEDICINES CORP 1.6%

Value $8.146M Shares 92,033 Est. Cost $102.57 Unrealized —

RDNT RADNET INC 1.6%

Value $7.837M Shares 157,615 Est. Cost $59.14 Unrealized 0.0%

HQY HEALTHEQUITY INC 1.5%

Value $7.42M Shares 83,966 Est. Cost $93.19 Unrealized +10.1%

MLTX MOONLAKE IMMUNOTHERAPEUTICS 1.4%

Value $7.001M Shares 179,196 Est. Cost $43.09 Unrealized 0.0%

HROW HARROW INC 1.0%

Value $5.023M Shares 188,829 Est. Cost $33.81 Unrealized -11.5%

PRAX PRAXIS PRECISION MEDICINES I 0.5%

Value $2.718M Shares 71,775 Est. Cost $68.74 Unrealized -9.1%

SLNO SOLENO THERAPEUTICS INC 0.4%

Value $2.08M Shares 29,115 Est. Cost $48.69 Unrealized 0.0%

Ticker	Issuer	Shares	Value	%	Est. Cost	Unrealized	Class	CUSIP
INSM	INSMED INC	401,629	$30.64M	6.2%	$48.11	+59.0%	COM PAR $.01	457669307
—	VERONA PHARMA PLC	435,385	$27.64M	5.6%	$30.67	—	SPONSORED ADS	925050106
ARGX	ARGENX SE	41,911	$24.81M	5.0%	$380.43	—	SPONSORED ADR	04016X101
NUVL	NUVALENT INC	331,927	$23.54M	4.7%	$69.26	+12.9%	COM	670703107
XENE	XENON PHARMACEUTICALS INC	683,451	$22.93M	4.6%	$38.49	-1.4%	COM	98420N105
BBIO	BRIDGEBIO PHARMA INC	656,699	$22.7M	4.6%	$28.54	+18.1%	COM	10806X102
MIRM	MIRUM PHARMACEUTICALS INC	503,014	$22.66M	4.6%	$29.91	+57.6%	COM	604749101
NTRA	NATERA INC	139,942	$19.79M	4.0%	$128.20	+25.4%	COM	632307104
—	MERUS N V	463,960	$19.53M	3.9%	$52.59	—	COM	N5749R100
BSX	BOSTON SCIENTIFIC CORP	178,156	$17.97M	3.6%	$100.70	0.0%	COM	101137107
ASND	ASCENDIS PHARMA A/S	113,278	$17.66M	3.6%	$134.19	—	SPONSORED ADR	04351P101
TGTX	TG THERAPEUTICS INC	400,644	$15.8M	3.2%	$33.65	0.0%	COM	88322Q108
VERA	VERA THERAPEUTICS INC	623,612	$14.98M	3.0%	$37.69	-14.8%	CL A	92337R101
AXSM	AXSOME THERAPEUTICS INC	118,179	$13.78M	2.8%	$69.19	+64.7%	COM	05464T104
GH	GUARDANT HEALTH INC	315,737	$13.45M	2.7%	$43.14	0.0%	COM	40131M109
—	SPRINGWORKS THERAPEUTICS INC	304,076	$13.42M	2.7%	$44.13	—	COM	85205L107
GKOS	GLAUKOS CORP	136,241	$13.41M	2.7%	$127.08	+5.0%	COM	377322102
EXAS	EXACT SCIENCES CORP	300,909	$13.03M	2.6%	$62.23	-18.6%	COM	30063P105
PODD	INSULET CORP	49,350	$12.96M	2.6%	$270.64	0.0%	COM	45784P101
RVMD	REVOLUTION MEDICINES INC	340,109	$12.03M	2.4%	$50.47	-19.6%	COM	76155X100
JANX	JANUX THERAPEUTICS INC	430,163	$11.61M	2.3%	$51.25	-26.4%	COM	47103J105
ORIC	ORIC PHARMACEUTICALS INC	2,027,430	$11.31M	2.3%	$10.41	-16.0%	COM	68622P109
ADMA	ADMA BIOLOGICS INC	566,945	$11.25M	2.3%	$15.64	+10.6%	COM	000899104
ISRG	INTUITIVE SURGICAL INC	22,109	$10.95M	2.2%	$415.00	+33.3%	COM NEW	46120E602
ELVN	ENLIVEN THERAPEUTICS INC	535,092	$10.53M	2.1%	$21.53	-0.1%	COM	29337E102
PCVX	VAXCYTE INC	276,905	$10.46M	2.1%	$63.04	+26.8%	COM	92243G108
APGE	APOGEE THERAPEUTICS INC	229,675	$8.581M	1.7%	$51.00	-24.2%	COM	03770N101
SPRY	ARS PHARMACEUTICALS INC	669,010	$8.416M	1.7%	$11.91	+1.0%	COM	82835W108
—	BLUEPRINT MEDICINES CORP	92,033	$8.146M	1.6%	$102.57	—	COM	09627Y109
RDNT	RADNET INC	157,615	$7.837M	1.6%	$59.14	0.0%	COM	750491102
HQY	HEALTHEQUITY INC	83,966	$7.42M	1.5%	$93.19	+10.1%	COM	42226A107
MLTX	MOONLAKE IMMUNOTHERAPEUTICS	179,196	$7.001M	1.4%	$43.09	0.0%	CLASS A ORD	61559X104
HROW	HARROW INC	188,829	$5.023M	1.0%	$33.81	-11.5%	COM	415858109
PRAX	PRAXIS PRECISION MEDICINES I	71,775	$2.718M	0.5%	$68.74	-9.1%	COM NEW	74006W207
SLNO	SOLENO THERAPEUTICS INC	29,115	$2.08M	0.4%	$48.69	0.0%	COM	834203309