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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
-4.96%
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
$876M
AUM Growth
-$169M
Cap. Flow
-$74.8M
Cap. Flow %
-8.55%
Top 10 Hldgs %
62.04%
Holding
42
New
6
Increased
11
Reduced
19
Closed
5

Top Buys

Rank Stock Value
1
ANAB icon
AnaptysBio
ANAB
+$62.8M
2
NEO icon
NeoGenomics
NEO
+$35.9M
3
EWTX icon
Edgewise Therapeutics
EWTX
+$28.1M
4
HCAT icon
Health Catalyst
HCAT
+$27.5M
5
NPCE icon
Neuropace
NPCE
+$19.8M

Top Sells

Rank Stock Value
1
FNA
Paragon 28, Inc.
FNA
+$125M
2
INSM icon
Insmed
INSM
+$30.8M
3
ATRC icon
AtriCure
ATRC
+$24.3M
4
PLRX icon
Pliant Therapeutics
PLRX
+$22.1M
5
XENE icon
Xenon Pharmaceuticals
XENE
+$20.2M

Sector Composition

Rank Sector Weight
1 Healthcare 99.74%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
ANAB icon
1
AnaptysBio
ANAB
$1.58B
$86.1M 9.84%
4,633,602
+3,764,720
+433% +$62.8M
AXGN icon
2
Axogen
AXGN
$2.27B
$82.8M 9.45%
4,474,215
-32,580
-0.7% -$588K
CNTA
3
DELISTED
Centessa Pharmaceuticals
CNTA
$70.1M 8%
4,874,124
-931,060
-16% -$15.2M
NEO icon
4
NeoGenomics
NEO
$1.96B
$57.3M 6.55%
6,042,822
+2,875,237
+91% +$35.9M
TWST icon
5
Twist Bioscience
TWST
$5.7B
$47.8M 5.46%
1,218,699
-7,556
-0.6% -$340K
HCAT icon
6
Health Catalyst
HCAT
$154M
$47.3M 5.4%
10,436,807
+5,195,686
+99% +$27.5M
ATRC icon
7
AtriCure
ATRC
$1.92B
$42.4M 4.84%
1,314,718
-654,503
-33% -$24.3M
EWTX icon
8
Edgewise Therapeutics
EWTX
$4.13B
$40.8M 4.65%
1,852,290
+1,071,651
+137% +$28.1M
PHLT
9
DELISTED
Performant Healthcare Inc
PHLT
$34.6M 3.95%
11,693,033
+346,384
+3% +$898K
IRTC icon
10
iRhythm Holdings
IRTC
$3.85B
$34M 3.89%
325,046
-105,454
-24% -$11.2M
CRNX icon
11
Crinetics Pharmaceuticals
CRNX
$8.84B
$28.7M 3.28%
855,419
-30,034
-3% -$1.12M
VERA icon
12
Vera Therapeutics
VERA
$2.3B
$28.2M 3.23%
1,175,879
-85,367
-7% -$2.74M
MDXG icon
13
MiMedx Group
MDXG
$602M
$26.2M 3%
3,453,074
+109,213
+3% +$913K
RARE icon
14
Ultragenyx Pharmaceutical
RARE
$2.45B
$22.9M 2.61%
632,033
-131,574
-17% -$5.47M
SIBN icon
15
SI-BONE Inc
SIBN
$788M
$22.6M 2.58%
1,612,408
+475,426
+42% +$7.67M
XENE icon
16
Xenon Pharmaceuticals
XENE
$6.06B
$21.1M 2.41%
627,904
-532,676
-46% -$20.2M
NPCE icon
17
Neuropace
NPCE
$439M
$19.5M 2.22%
+1,584,048
New +$19.8M
ALHC icon
18
Alignment Healthcare
ALHC
$3.07B
$17.8M 2.03%
+956,441
New +$14.3M
JANX icon
19
Janux Therapeutics
JANX
$925M
$17.8M 2.03%
658,824
+345,042
+110% +$13M
ESTA icon
20
Establishment Labs
ESTA
$2.72B
$13.7M 1.57%
+336,870
New +$12.6M
BFLY icon
21
Butterfly Network
BFLY
$1.89B
$12.6M 1.43%
5,505,649
+1,511,029
+38% +$5.4M
GH icon
22
Guardant Health
GH
$21.5B
$11.5M 1.32%
271,115
-38,274
-12% -$1.65M
KRMD icon
23
KORU Medical Systems
KRMD
$189M
$11.3M 1.29%
4,454,926
-1,460,508
-25% -$5.43M
RGEN icon
24
Repligen
RGEN
$7.96B
$11.2M 1.28%
87,850
+5,395
+7% +$830K
ELDN icon
25
Eledon Pharmaceuticals
ELDN
$261M
$7.89M 0.9%
2,328,768
– –
1
2

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First Light Asset Management's Q1 2025 Portfolio in Review

As of Q1 2025, First Light Asset Management held 42 positions worth $876M, down 16% from $1.05B the previous quarter. Its ten largest holdings account for 62% of the portfolio.

First Light Asset Management withdrew a net $74.8M in Q1 2025, closing 5 positions and reducing 19 holdings. Its most notable exit was Pliant Therapeutics, an estimated $22.1M position sold in full.

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

Against the trend, First Light Asset Management opened a new position in Neuropace worth $19.5M.

  • First Light Asset Management's largest Q1 2025 buy was Neuropace: 1,584,048 shares worth $19.5M.
  • First Light Asset Management added most to AnaptysBio in Q1 2025, an estimated $62.8M increase.
  • First Light Asset Management's biggest Q1 2025 reduction was Paragon 28, Inc., cutting an estimated $125M.
  • First Light Asset Management fully exited Pliant Therapeutics in Q1 2025, selling an estimated $22.1M.
  • First Light Asset Management's ten largest holdings make up 62% of its $876M portfolio in Q1 2025.
  • First Light Asset Management opened 6 new positions and closed 5 in Q1 2025.
  • First Light Asset Management's portfolio value fell 16% quarter-over-quarter to $876M.

Based on First Light Asset Management's 13F filing for Q1 2025, filed 15 May 2025.