First Turn Management, Llc
- Regulatory AUM
- $900M
- Discretionary
- $900M
- Clients
- 4
- Avg AUM / client
- $225M
- Accounts
- 4
- Employees
- 4
AUM over time
Annual snapshots from Form ADV filings · as of Mar 25, 2026
Who they serve
| Client type | Clients | AUM | % of AUM |
|---|---|---|---|
| Pooled investment vehicles (non-investment companies) | 3 | $93.1M | 10.3% |
| Sovereign wealth funds and foreign official institutions | 1 | $807M | 89.7% |
Private funds (1)
Reported in Form ADV Section 7.B.(1), filing of Mar 2024 · $71.4M combined gross assets
| Fund | Type | Domicile | Gross assets | Owners |
|---|---|---|---|---|
| First Turn, Lp | Hedge Fund | Delaware | $71.4M | 56 |
People (4)
| Name | Role / title | Credentials | With firm since | Ownership |
|---|---|---|---|---|
| Wheatley, Lisa, Gable | Manager | May 2023 (3y) | ≈ 37.5% – 75% via Wcw Capital, Llc | |
| Murphy, Tracy, Austin | Director | Jul 2023 (3y) | Less than 5% | |
| Newcomb, Catherine | Chief Compliance Officer | Jul 2023 (3y) | Less than 5% | |
| Rosetta, Stephen, Allyn | Director | Jul 2023 (3y) | Less than 5% |
Entity owners (Schedule A/B)
| Entity | Title / status | Since | Sch. | Ownership |
|---|---|---|---|---|
| Wcw Capital, Llc | Member | Jul 2023 | A | 50% – 75% |
| Cedb, Llc | Member | Jul 2023 | A | 10% – 25% |
| Ramiq, Inc. Cash Balance Plan (Fka Tam Investors, Llc Cash Balance Plan) | Member | Jul 2023 | A | 10% – 25% |
| Lansara Advisors, Inc. Cash Balance Plan | Member | Jul 2023 | A | 10% – 25% |
| Ce Solo K Plan | Sole Member | Dec 2006 | B | ≈ 7.5% – 25% via Cedb, Llc |
| Rf Manager, Llc | Manager | May 2021 | B | GP / trustee / elected manager of Cedb, Llc (indirect) |
Undisclosed: 0% – 20% of the firm is not attributable from the filed Schedule A bands.
Estimated effective ownership (look-through of filed bands):
- Wheatley, Lisa, Gable: 75% – 100% of Wcw Capital, Llc × 50% – 75% direct ≈ 37.5% – 75% of the firm
- Ce Solo K Plan: 75% – 100% of Cedb, Llc × 10% – 25% direct ≈ 7.5% – 25% of the firm
Roster from the IAPD representatives feed; ownership and acquisition dates from Form ADV Schedule A/B. "Since" is the earliest filed registration or acquisition date.
Private funds (1, $71.4M gross assets)
| Fund | Type | Gross assets | Min. investment | Owners |
|---|---|---|---|---|
| First Turn, Lp | Hedge Fund | $71.4M | $1.0M | 56 |
From Form ADV Section 7.B private fund reporting.
Documents (1 archived)
| Form | Period | Size | |
|---|---|---|---|
| Form ADV (full filing) | 03/25/2026 | 1.49 MB | View · PDF · Source ↗ |
Archived copies of the firm's regulatory filings, versioned by content hash.
Disciplinary disclosures
No disciplinary events reported on the firm's latest Form ADV filing.
How they charge
- • Percentage of assets under management
- • Performance-based fees
Services
- • Portfolio management for individuals/small businesses
- • Portfolio management for pooled investment vehicles
- • Portfolio management for businesses/institutional clients
Custody
Reported custodians
- Citigroup Global Markets Inc. $807M (90% of AUM) Mar 2026
- J.P. Morgan $93.1M (10% of AUM) Mar 2026
Amounts as reported in ADV Item 5.K.(3) (custodians holding 10%+ of SMA assets).
Firm reports it does not have custody of client funds or securities (Item 9.A).
Source
All data on this page comes from this firm's Form ADV filings, reproduced without modification. Latest filing: Mar 25, 2026.
View current Form ADV (SEC/IAPD) ↗