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FLAM
First Light Asset Management Portfolio holdings
AUM
$1.65B
1-Year Est. Return
203.21%
This Fund
S&P 500
This Quarter
Est. Return
+0.86%
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
$771M
AUM Growth
-$104M
(-12%)
Cap. Flow
-$60.1M
Cap. Flow
% of AUM
-7.79%
Top 10 Holdings %
Top 10 Hldgs %
60%
Holding
45
New
8
Increased
11
Reduced
19
Closed
7
Top Buys
| Rank | Stock | Value |
|---|---|---|
| 1 |
Organogenesis Holdings
ORGO
|
+$25.3M |
| 2 |
ADMA Biologics
ADMA
|
+$19.4M |
| 3 |
Senseonics Holdings Inc
SENS
|
+$18.1M |
| 4 |
CAI
Caris Life Sciences
CAI
|
+$11.9M |
| 5 |
Simulations Plus
SLP
|
+$10M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
AnaptysBio
ANAB
|
+$22.9M |
| 2 |
iRhythm Holdings
IRTC
|
+$17.8M |
| 3 |
Xenon Pharmaceuticals
XENE
|
+$14.3M |
| 4 |
Vera Therapeutics
VERA
|
+$13.8M |
| 5 |
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 | |
|---|---|---|---|---|---|---|
|
1
AnaptysBio
ANAB
$1.65B
| $78.6M | 10.19% |
3,539,593
-1,094,009
| -24% | -$22.9M |
|
|
CNTA
2
DELISTED
Centessa Pharmaceuticals
CNTA
| $56.4M | 7.31% |
4,293,411
-580,713
| -12% | -$7.36M |
|
|
PHLT
3
DELISTED
Performant Healthcare Inc
PHLT
| $52.7M | 6.83% |
13,170,381
+1,477,348
| +13% | +$4.19M |
|
4
NeoGenomics
NEO
$2.27B
| $50M | 6.49% |
6,846,432
+803,610
| +13% | +$6.49M |
|
5
Axogen
AXGN
$2.54B
| $49.1M | 6.37% |
4,529,243
+55,028
| +1% | +$721K |
|
6
Health Catalyst
HCAT
$130M
| $46.1M | 5.98% |
12,230,181
+1,793,374
| +17% | +$7.05M |
|
7
Twist Bioscience
TWST
$8.26B
| $34.8M | 4.51% |
945,033
-273,666
| -22% | -$9.46M |
|
8
AtriCure
ATRC
$2.7B
| $33.3M | 4.31% |
1,015,170
-299,548
| -23% | -$9.73M |
|
9
SI-BONE Inc
SIBN
$825M
| $33M | 4.27% |
1,751,001
+138,593
| +9% | +$2.3M |
|
|
10
iRhythm Holdings
IRTC
$3.94B
| $28.8M | 3.74% |
187,355
-137,691
| -42% | -$17.8M |
|
|
CRNX
11
DELISTED
Crinetics Pharmaceuticals
CRNX
| $24.9M | 3.22% |
864,136
+8,717
| +1% | +$269K |
|
|
12
Organogenesis Holdings
ORGO
$202M
| $24.8M | 3.22% |
+6,777,163
| New | +$25.3M |
|
13
Edgewise Therapeutics
EWTX
$4.71B
| $22.5M | 2.91% |
1,714,019
-138,271
| -7% | -$1.99M |
|
14
Ultragenyx Pharmaceutical
RARE
$1.41B
| $19.9M | 2.58% |
547,905
-84,128
| -13% | -$3.03M |
|
15
Establishment Labs
ESTA
$2.22B
| $17.8M | 2.31% |
417,157
+80,287
| +24% | +$2.8M |
|
|
16
ADMA Biologics
ADMA
$2.12B
| $17.3M | 2.25% |
+952,096
| New | +$19.4M |
|
|
17
Senseonics Holdings Inc
SENS
$461M
| $17M | 2.21% |
1,785,406
+1,552,531
| +667% | +$18.1M |
|
18
KORU Medical Systems
KRMD
$145M
| $16.8M | 2.17% |
4,681,626
+226,700
| +5% | +$644K |
|
19
Neuropace
NPCE
$498M
| $15.4M | 1.99% |
1,380,410
-203,638
| -13% | -$2.55M |
|
|
20
Vera Therapeutics
VERA
$2.43B
| $13.3M | 1.72% |
562,981
-612,898
| -52% | -$13.8M |
|
21
MiMedx Group
MDXG
$683M
| $11.8M | 1.53% |
1,927,494
-1,525,580
| -44% | -$10.1M |
|
|
CAI
22
Caris Life Sciences
CAI
$6.79B
| $11.2M | 1.46% |
+443,043
| New | +$11.9M |
|
23
Butterfly Network
BFLY
$1.99B
| $10.9M | 1.42% |
5,465,032
-40,617
| -0.7% | -$93.3K |
|
|
CDTX
24
DELISTED
Cidara Therapeutics
CDTX
| $8.8M | 1.14% |
+180,615
| New | +$4.34M |
|
25
Evolent Health
EVH
$469M
| $8.32M | 1.08% |
738,550
+153,114
| +26% | +$1.41M |
|
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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.