First Light Asset Management Portfolio holdings
First Light Asset Management invests only in health care, from biotech to medical devices and health care services. It mostly looks for less-crowded stocks of micro-cap to mid-cap companies that are often inefficiently priced, and it weights each holding by how strongly its research convinces the team. Its Genesis Strategy invests in publicly traded health care stocks. The firm was formed in September 2013, and Mathew P. Arens, its chief executive and senior portfolio manager, is its principal owner.
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 | |
|---|---|---|---|---|---|---|---|
26
iRhythm Holdings
IRTC
$4.17B
| $19.9M | 1.21% |
167,092
-1,024
| -0.6% | -$119K |
2024 Q4
6 quarters
|
|
27
Omnicell
OMCL
$1.62B
| $18.8M | 1.14% |
452,324
-37,522
| -8% | -$1.51M |
2026 Q1
1 quarter
|
|
28
AtriCure
ATRC
$3.07B
| $15.9M | 0.97% |
567,838
-161,683
| -22% | -$4.55M |
2013 Q4
50 quarters
|
|
29
KORU Medical Systems
KRMD
$143M
| $14.2M | 0.86% |
3,387,902
-380,478
| -10% | -$1.56M |
2019 Q4
26 quarters
|
|
30
Tactile Systems Technology
TCMD
$561M
| $13.8M | 0.84% |
+462,562
| New | +$11.6M |
2026 Q2
0 quarters
|
|
31
Rhythm Pharmaceuticals
RYTM
$5.95B
| $9.5M | 0.58% |
85,765
-1,416
| -2% | -$128K |
2025 Q3
3 quarters
|
|
|
CNTA
32
DELISTED
Centessa Pharmaceuticals
CNTA
| – | – |
-1,560,991
| Closed | -$62M | – |
|
33
MiMedx Group
MDXG
$474M
| – | – |
-2,842,892
| Closed | -$11.2M | – |
|
34
Organogenesis Holdings
ORGO
$107M
| – | – |
-3,498,533
| Closed | -$8.29M | – |
|
|
35
Vera Therapeutics
VERA
$2.21B
| – | – |
-313,906
| Closed | -$12.6M | – |
|
|
36
Wave Life Sciences
WVE
$706M
| – | – |
-1,843,968
| Closed | -$13.4M | – |
|
37
SpyGlass Pharma
SGP
$1.15B
| – | – |
-375,000
| Closed | -$9.7M | – |
|
Similar funds
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.