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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
ANAB icon
1
AnaptysBio
ANAB
$1.6B
$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
NEO icon
4
NeoGenomics
NEO
$1.81B
$50M 6.49%
6,846,432
+803,610
+13% +$6.49M
AXGN icon
5
Axogen
AXGN
$2.1B
$49.1M 6.37%
4,529,243
+55,028
+1% +$721K
HCAT icon
6
Health Catalyst
HCAT
$154M
$46.1M 5.98%
12,230,181
+1,793,374
+17% +$7.05M
TWST icon
7
Twist Bioscience
TWST
$5.62B
$34.8M 4.51%
945,033
-273,666
-22% -$9.46M
ATRC icon
8
AtriCure
ATRC
$1.77B
$33.3M 4.31%
1,015,170
-299,548
-23% -$9.73M
SIBN icon
9
SI-BONE Inc
SIBN
$737M
$33M 4.27%
1,751,001
+138,593
+9% +$2.3M
IRTC icon
10
iRhythm Holdings
IRTC
$3.59B
$28.8M 3.74%
187,355
-137,691
-42% -$17.8M
CRNX icon
11
Crinetics Pharmaceuticals
CRNX
$8.86B
$24.9M 3.22%
864,136
+8,717
+1% +$269K
ORGO icon
12
Organogenesis Holdings
ORGO
$308M
$24.8M 3.22%
+6,777,163
New +$25.3M
EWTX icon
13
Edgewise Therapeutics
EWTX
$4.39B
$22.5M 2.91%
1,714,019
-138,271
-7% -$1.99M
RARE icon
14
Ultragenyx Pharmaceutical
RARE
$2.65B
$19.9M 2.58%
547,905
-84,128
-13% -$3.03M
ESTA icon
15
Establishment Labs
ESTA
$2.72B
$17.8M 2.31%
417,157
+80,287
+24% +$2.8M
ADMA icon
16
ADMA Biologics
ADMA
$1.92B
$17.3M 2.25%
+952,096
New +$19.4M
SENS icon
17
Senseonics Holdings Inc
SENS
$254M
$17M 2.21%
1,785,406
+1,552,531
+667% +$18.1M
KRMD icon
18
KORU Medical Systems
KRMD
$176M
$16.8M 2.17%
4,681,626
+226,700
+5% +$644K
NPCE icon
19
Neuropace
NPCE
$505M
$15.4M 1.99%
1,380,410
-203,638
-13% -$2.55M
VERA icon
20
Vera Therapeutics
VERA
$2.54B
$13.3M 1.72%
562,981
-612,898
-52% -$13.8M
MDXG icon
21
MiMedx Group
MDXG
$626M
$11.8M 1.53%
1,927,494
-1,525,580
-44% -$10.1M
CAI
22
Caris Life Sciences
CAI
$4.39B
$11.2M 1.46%
+443,043
New +$11.9M
BFLY icon
23
Butterfly Network
BFLY
$1.72B
$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
EVH icon
25
Evolent Health
EVH
$475M
$8.32M 1.08%
738,550
+153,114
+26% +$1.41M
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.