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FLAM

First Light Asset Management Portfolio holdings

AUM $1.12B
1-Year Est. Return 114.45%
This Fund
S&P 500
This Quarter Est. Return
+0.86%
1 Year Est. Return
+114.45%
3 Year Est. Return
+266.49%
5 Year Est. Return
+454.92%
10 Year Est. Return
+8,470.94%
AUM
$771M
AUM Growth
-$104M
Cap. Flow
-$60.1M
Cap. Flow %
-7.79%
Top 10 Hldgs %
60%
Holding
45
New
8
Increased
11
Reduced
19
Closed
7

Top Buys

Rank Stock Value
1
ORGO icon
Organogenesis Holdings
ORGO
+$25.3M
2
ADMA icon
ADMA Biologics
ADMA
+$19.4M
3
SENS icon
Senseonics Holdings Inc
SENS
+$18.1M
4
CAI
Caris Life Sciences
CAI
+$11.9M
5
SLP icon
Simulations Plus
SLP
+$10M

Top Sells

Rank Stock Value
1
ANAB icon
AnaptysBio
ANAB
+$22.9M
2
IRTC icon
iRhythm Holdings
IRTC
+$17.8M
3
XENE icon
Xenon Pharmaceuticals
XENE
+$14.3M
4
VERA icon
Vera Therapeutics
VERA
+$13.8M
5
JANX icon
Janux Therapeutics
JANX
+$13.4M

Sector Composition

Rank Sector Weight
1 Healthcare 100%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
MASS icon
26
908 Devices
MASS
$293M
$7.61M 0.99%
1,067,613
-633,482
-37% -$3.52M
ELDN icon
27
Eledon Pharmaceuticals
ELDN
$276M
$7.05M 0.91%
2,600,498
+271,730
+12% +$815K
GH icon
28
Guardant Health
GH
$19.5B
$6.71M 0.87%
128,868
-142,247
-52% -$6.35M
INSM icon
29
Insmed
INSM
$23.2B
$6.33M 0.82%
62,901
-5,252
-8% -$402K
SLP icon
30
Simulations Plus
SLP
$371M
$6.23M 0.81%
+357,157
New +$10M
XENE icon
31
Xenon Pharmaceuticals
XENE
$6.32B
$5.9M 0.76%
188,367
-439,537
-70% -$14.3M
RGEN icon
32
Repligen
RGEN
$7.44B
$5.47M 0.71%
43,949
-43,901
-50% -$5.59M
ALHC icon
33
Alignment Healthcare
ALHC
$4.02B
$5.37M 0.7%
383,663
-572,778
-60% -$9.22M
EOLS icon
34
Evolus
EOLS
$394M
$4.8M 0.62%
+520,631
New +$5.33M
RDNT icon
35
RadNet
RDNT
$4.84B
$3.91M 0.51%
+68,694
New +$3.77M
JANX icon
36
Janux Therapeutics
JANX
$935M
$3.46M 0.45%
149,596
-509,228
-77% -$13.4M
GPCR icon
37
Structure Therapeutics
GPCR
$3.49B
$2.53M 0.33%
122,226
-10,154
-8% -$223K
LNTH icon
38
Lantheus
LNTH
$6.82B
$2.46M 0.32%
+30,045
New +$2.64M
LABD icon
39
Direxion Daily S&P Biotech Bear 3X ETF
LABD
$66.7M
– –
-14,028
Closed -$2.3M
OSCR icon
40
Oscar Health
OSCR
$8.5B
– –
-522,302
Closed -$6.85M
PCVX icon
41
Vaxcyte
PCVX
$7.89B
– –
-94,420
Closed -$3.57M
PODD icon
42
Insulet
PODD
$11.3B
– –
-17,022
Closed -$4.47M
TMDX icon
43
Transmedics
TMDX
$2.5B
– –
-107,860
Closed -$7.26M
TNDM icon
44
Tandem Diabetes Care
TNDM
$1.17B
– –
-245,257
Closed -$4.7M
FNA
45
DELISTED
Paragon 28, Inc.
FNA
– –
-500,000
Closed -$6.53M
1
2

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First Light Asset Management's Q2 2025 Portfolio in Review

As of Q2 2025, First Light Asset Management held 45 positions worth $771M, down 12% from $876M the previous quarter. Its ten largest holdings account for 60% of the portfolio.

First Light Asset Management withdrew a net $60.1M in Q2 2025, closing 7 positions and reducing 19 holdings. Its most notable exit was Transmedics, an estimated $7.26M position sold in full.

By sector, the portfolio is most concentrated in Healthcare at 100% of assets, up from 100% a quarter earlier.

Against the trend, First Light Asset Management opened a new position in Organogenesis Holdings worth $24.8M.

  • First Light Asset Management's largest Q2 2025 buy was Organogenesis Holdings: 6,777,163 shares worth $24.8M.
  • First Light Asset Management added most to Senseonics Holdings Inc in Q2 2025, an estimated $18.1M increase.
  • First Light Asset Management's biggest Q2 2025 reduction was AnaptysBio, cutting an estimated $22.9M.
  • First Light Asset Management fully exited Transmedics in Q2 2025, selling an estimated $7.26M.
  • First Light Asset Management's ten largest holdings make up 60% of its $771M portfolio in Q2 2025.
  • First Light Asset Management opened 8 new positions and closed 7 in Q2 2025.
  • First Light Asset Management's portfolio value fell 12% quarter-over-quarter to $771M.

Based on First Light Asset Management's 13F filing for Q2 2025, filed 14 Aug 2025.