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First Light Asset Management Portfolio holdings
AUM
$1.65B
Turnover
21.62%
1-Year Est. Return
203.21%
This Fund
S&P 500
This Quarter Est. Return
+42.6%
1 Year Est. Return
+203.21%
3 Year Est. Return
+364.25%
5 Year Est. Return
+595.91%
10 Year Est. Return
+10,683%
AUM
$1.65B
AUM Growth
+$529M
(+47%)
Cap. Flow
+$107M
Cap. Flow % of AUM
Cap. Flow %
6.48%
Top 10 Holdings %
Top 10 Hldgs %
60.74%
Holding
37
New
2
Increased
17
Reduced
12
Closed
6
Avg Time Held
2.5
years
Top 10 Avg Time Held
0.7
years
Top 20 Avg Time Held
1
year
Top Buys
| Rank | Stock | Value |
|---|---|---|
| 1 |
Enliven Therapeutics
ELVN
|
+$49.2M |
| 2 |
SI-BONE Inc
SIBN
|
+$39.6M |
| 3 |
Tandem Diabetes Care
TNDM
|
+$36.1M |
| 4 |
Apogee Therapeutics
APGE
|
+$31.9M |
| 5 |
GeneDx Holdings
WGS
|
+$30.7M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
CNTA
Centessa Pharmaceuticals
CNTA
|
+$62M |
| 2 |
Axogen
AXGN
|
+$50.6M |
| 3 |
Palvella Therapeutics
PVLA
|
+$25.4M |
| 4 |
Wave Life Sciences
WVE
|
+$13.4M |
| 5 |
Vera Therapeutics
VERA
|
+$12.6M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Healthcare | 100% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | Held Since | |
|---|---|---|---|---|---|---|---|
1
NeoGenomics
NEO
$2.13B
| $179M | 10.89% |
12,279,523
+2,549,545
| +26% | +$24.6M |
2013 Q4
50 quarters
|
|
|
2
SI-BONE Inc
SIBN
$963M
| $133M | 8.06% |
8,127,985
+2,774,795
| +52% | +$39.6M |
2019 Q2
28 quarters
|
|
|
3
Axogen
AXGN
$2.23B
| $127M | 7.72% |
2,748,361
-1,254,407
| -31% | -$50.6M |
2020 Q3
23 quarters
|
|
|
4
DELISTED
Apogee Therapeutics
APGE
| $123M | 7.51% |
930,289
+353,605
| +61% | +$31.9M |
2025 Q4
2 quarters
|
|
|
5
Palvella Therapeutics
PVLA
$1.8B
| $118M | 7.17% |
771,901
-208,857
| -21% | -$25.4M |
2025 Q3
3 quarters
|
|
6
Twist Bioscience
TWST
$9.28B
| $74.9M | 4.55% |
727,933
-150,915
| -17% | -$9.8M |
2024 Q4
6 quarters
|
|
|
7
Enliven Therapeutics
ELVN
$3.04B
| $69.1M | 4.2% |
1,360,750
+1,158,883
| +574% | +$49.2M |
2026 Q1
1 quarter
|
|
8
Guardant Health
GH
$22.7B
| $66.3M | 4.03% |
441,586
+161,287
| +58% | +$17.5M |
2022 Q4
14 quarters
|
|
9
908 Devices
MASS
$475M
| $54.7M | 3.32% |
6,282,804
+210,241
| +3% | +$1.61M |
2025 Q1
5 quarters
|
|
10
Amylyx Pharmaceuticals
AMLX
$3.41B
| $54.3M | 3.3% |
3,023,256
-167,389
| -5% | -$2.59M |
2025 Q3
3 quarters
|
|
|
11
GeneDx Holdings
WGS
$1.67B
| $53.8M | 3.27% |
783,923
+540,996
| +223% | +$30.7M |
2026 Q1
1 quarter
|
|
12
DELISTED
Simulations Plus
SLP
| $51.1M | 3.11% |
2,792,677
+159,854
| +6% | +$2.46M |
2025 Q2
4 quarters
|
|
|
13
Tandem Diabetes Care
TNDM
$1.21B
| $51.1M | 3.1% |
3,383,553
+2,068,838
| +157% | +$36.1M |
2025 Q4
2 quarters
|
|
14
DELISTED
Crinetics Pharmaceuticals
CRNX
| $50.9M | 3.1% |
1,360,866
+271,196
| +25% | +$10.1M |
2021 Q4
18 quarters
|
|
15
Neuropace
NPCE
$443M
| $45.5M | 2.76% |
2,861,167
+401,201
| +16% | +$6.46M |
2025 Q1
5 quarters
|
|
16
Edgewise Therapeutics
EWTX
$4.27B
| $44.5M | 2.7% |
1,095,171
+93,325
| +9% | +$3.22M |
2024 Q4
6 quarters
|
|
17
AnaptysBio
ANAB
$1.46B
| $39.3M | 2.39% |
582,004
+16,573
| +3% | +$1M |
2023 Q2
12 quarters
|
|
18
Trevi Therapeutics
TRVI
$1.8B
| $39.1M | 2.38% |
+2,097,215
| New | +$30.5M |
2026 Q2
0 quarters
|
|
19
Septerna Inc
SEPN
$1.89B
| $32.3M | 1.96% |
963,260
+230,400
| +31% | +$6.54M |
2025 Q4
2 quarters
|
|
20
TriSalus Life Sciences
TLSI
$221M
| $29.8M | 1.81% |
6,552,491
+1,485,664
| +29% | +$5.9M |
2026 Q1
1 quarter
|
|
21
Tectonic Therapeutic
TECX
$392M
| $27.5M | 1.67% |
800,726
+152,983
| +24% | +$4.49M |
2026 Q1
1 quarter
|
|
22
Health Catalyst
HCAT
$127M
| $25.5M | 1.55% |
12,810,861
-67,839
| -0.5% | -$97.9K |
2019 Q3
27 quarters
|
|
23
Butterfly Network
BFLY
$1.8B
| $22.2M | 1.35% |
2,642,404
-17,763
| -0.7% | -$92K |
2024 Q4
6 quarters
|
|
24
Establishment Labs
ESTA
$1.9B
| $21.2M | 1.29% |
246,577
-61,161
| -20% | -$4.39M |
2025 Q1
5 quarters
|
|
25
Vaxcyte
PCVX
$9.5B
| $20.1M | 1.22% |
345,157
+203,373
| +143% | +$11M |
2026 Q1
1 quarter
|
|
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BFO
First Light Asset Management's Q2 2026 Portfolio in Review
As of Q2 2026, First Light Asset Management held 37 positions worth $1.65B, up 47% from $1.12B the previous quarter. Its ten largest holdings account for 61% of the portfolio.
First Light Asset Management deployed $107M of net new capital in Q2 2026, opening 2 new positions and adding to 17 existing holdings. Its largest new stake was Trevi Therapeutics: 2,097,215 shares worth $39.1M.
By sector, the portfolio is most concentrated in Healthcare at 100% of assets, unchanged from a quarter earlier.
On the sell side, the largest reduction was Axogen, an estimated $50.6M trimmed.
- First Light Asset Management's largest Q2 2026 buy was Trevi Therapeutics: 2,097,215 shares worth $39.1M.
- First Light Asset Management added most to Enliven Therapeutics in Q2 2026, an estimated $49.2M increase.
- First Light Asset Management's biggest Q2 2026 reduction was Axogen, cutting an estimated $50.6M.
- First Light Asset Management fully exited Centessa Pharmaceuticals in Q2 2026, selling an estimated $62M.
- First Light Asset Management's ten largest holdings make up 61% of its $1.65B portfolio in Q2 2026.
- First Light Asset Management opened 2 new positions and closed 6 in Q2 2026.
- First Light Asset Management's portfolio value rose 47% quarter-over-quarter to $1.65B.
Based on First Light Asset Management's 13F filing for Q2 2026, filed 14 Aug 2026.