First Turn Management, LLC

2. Key Holdings

The portfolio is characterized by remarkably even weight distribution among its top assets, suggesting a strategy that avoids over-concentration in any single name. The top three positions—United Therapeutics Corp (UTHR), Merus N.V., and Xenon Pharmaceuticals Inc (XENE)—are tightly clustered, representing 7.89%, 7.73%, and 7.08% of the portfolio, respectively. No single holding constitutes more than 8% of the total assets, which mitigates idiosyncratic risk while maintaining exposure to high-growth potential.