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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
+50.7%
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
$1.06B
AUM Growth
+$289M
Cap. Flow
+$90.7M
Cap. Flow %
8.55%
Top 10 Hldgs %
54.86%
Holding
47
New
9
Increased
15
Reduced
17
Closed
6

Top Buys

Rank Stock Value
1
AMLX icon
Amylyx Pharmaceuticals
AMLX
+$31.6M
2
LENZ
LENZ Therapeutics
LENZ
+$25.5M
3
PVLA
Palvella Therapeutics
PVLA
+$24.1M
4
NEO icon
NeoGenomics
NEO
+$21.6M
5
AXGN icon
Axogen
AXGN
+$18.5M

Top Sells

Rank Stock Value
1
ANAB icon
AnaptysBio
ANAB
+$58.5M
2
CNTA
Centessa Pharmaceuticals
CNTA
+$11.7M
3
PHLT
Performant Healthcare Inc
PHLT
+$9.24M
4
SENS icon
Senseonics Holdings Inc
SENS
+$8.55M
5
RARE icon
Ultragenyx Pharmaceutical
RARE
+$7.86M

Sector Composition

Rank Sector Weight
1 Healthcare 100%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
AXGN icon
1
Axogen
AXGN
$2.1B
$104M 9.76%
5,805,730
+1,276,487
+28% +$18.5M
PHLT
2
DELISTED
Performant Healthcare Inc
PHLT
$90.6M 8.54%
11,718,612
-1,451,769
-11% -$9.24M
CNTA
3
DELISTED
Centessa Pharmaceuticals
CNTA
$88.2M 8.31%
3,635,816
-657,595
-15% -$11.7M
NEO icon
4
NeoGenomics
NEO
$1.81B
$76.6M 7.22%
9,927,269
+3,080,837
+45% +$21.6M
AMLX icon
5
Amylyx Pharmaceuticals
AMLX
$2.05B
$45.6M 4.3%
+3,355,882
New +$31.6M
CRNX icon
6
Crinetics Pharmaceuticals
CRNX
$8.86B
$39.2M 3.7%
941,516
+77,380
+9% +$2.47M
HCAT icon
7
Health Catalyst
HCAT
$154M
$38.3M 3.61%
13,436,220
+1,206,039
+10% +$4.13M
PVLA
8
Palvella Therapeutics
PVLA
$1.98B
$33.9M 3.2%
+541,544
New +$24.1M
TWST icon
9
Twist Bioscience
TWST
$5.62B
$33.6M 3.17%
1,194,883
+249,850
+26% +$7.57M
LENZ
10
LENZ Therapeutics
LENZ
$172M
$32.3M 3.04%
+693,044
New +$25.5M
ORGO icon
11
Organogenesis Holdings
ORGO
$308M
$31.6M 2.98%
7,497,911
+720,748
+11% +$3.35M
ATRC icon
12
AtriCure
ATRC
$1.77B
$31.4M 2.96%
890,362
-124,808
-12% -$4.3M
ANAB icon
13
AnaptysBio
ANAB
$1.6B
$30.3M 2.86%
990,161
-2,549,432
-72% -$58.5M
SIBN icon
14
SI-BONE Inc
SIBN
$737M
$28.2M 2.66%
1,917,903
+166,902
+10% +$2.73M
CDTX
15
DELISTED
Cidara Therapeutics
CDTX
$28M 2.64%
292,657
+112,042
+62% +$7.15M
IRTC icon
16
iRhythm Holdings
IRTC
$3.59B
$26.7M 2.51%
155,099
-32,256
-17% -$5.13M
MDXG icon
17
MiMedx Group
MDXG
$626M
$25.5M 2.4%
3,652,952
+1,725,458
+90% +$12M
EWTX icon
18
Edgewise Therapeutics
EWTX
$4.39B
$23M 2.16%
1,414,994
-299,025
-17% -$4.24M
MASS icon
19
908 Devices
MASS
$293M
$22M 2.07%
2,510,496
+1,442,883
+135% +$9.59M
MRUS
20
DELISTED
Merus
MRUS
$21.1M 1.99%
+224,080
New +$14.6M
RYTM icon
21
Rhythm Pharmaceuticals
RYTM
$7B
$18.2M 1.72%
+180,484
New +$16.8M
GH icon
22
Guardant Health
GH
$19.5B
$17.5M 1.65%
280,001
+151,133
+117% +$8.22M
KRMD icon
23
KORU Medical Systems
KRMD
$176M
$17.3M 1.63%
4,527,737
-153,889
-3% -$589K
ESTA icon
24
Establishment Labs
ESTA
$2.72B
$17.1M 1.62%
418,358
+1,201
+0.3% +$49.1K
ADMA icon
25
ADMA Biologics
ADMA
$1.92B
$15.7M 1.48%
1,069,233
+117,137
+12% +$2.01M
1
2

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First Light Asset Management's Q3 2025 Portfolio in Review

As of Q3 2025, First Light Asset Management held 47 positions worth $1.06B, up 38% from $771M the previous quarter. Its ten largest holdings account for 55% of the portfolio.

First Light Asset Management deployed $90.7M of net new capital in Q3 2025, opening 9 new positions and adding to 15 existing holdings. Its largest new stake was Amylyx Pharmaceuticals: 3,355,882 shares worth $45.6M.

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 AnaptysBio, an estimated $58.5M trimmed.

  • First Light Asset Management's largest Q3 2025 buy was Amylyx Pharmaceuticals: 3,355,882 shares worth $45.6M.
  • First Light Asset Management added most to NeoGenomics in Q3 2025, an estimated $21.6M increase.
  • First Light Asset Management's biggest Q3 2025 reduction was AnaptysBio, cutting an estimated $58.5M.
  • First Light Asset Management fully exited Eledon Pharmaceuticals in Q3 2025, selling an estimated $7.05M.
  • First Light Asset Management's ten largest holdings make up 55% of its $1.06B portfolio in Q3 2025.
  • First Light Asset Management opened 9 new positions and closed 6 in Q3 2025.
  • First Light Asset Management's portfolio value rose 38% quarter-over-quarter to $1.06B.

Based on First Light Asset Management's 13F filing for Q3 2025, filed 14 Nov 2025.