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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
+50.7%
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
$1.06B
AUM Growth
+$289M
(+38%)
Cap. Flow
+$90.7M
Cap. Flow
% of AUM
8.55%
Top 10 Holdings %
Top 10 Hldgs %
54.86%
Holding
47
New
9
Increased
15
Reduced
17
Closed
6
Top Buys
| Rank | Stock | Value |
|---|---|---|
| 1 |
Amylyx Pharmaceuticals
AMLX
|
+$31.6M |
| 2 |
LENZ
LENZ Therapeutics
LENZ
|
+$25.5M |
| 3 |
PVLA
Palvella Therapeutics
PVLA
|
+$24.1M |
| 4 |
NeoGenomics
NEO
|
+$21.6M |
| 5 |
Axogen
AXGN
|
+$18.5M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
AnaptysBio
ANAB
|
+$58.5M |
| 2 |
CNTA
Centessa Pharmaceuticals
CNTA
|
+$11.7M |
| 3 |
PHLT
Performant Healthcare Inc
PHLT
|
+$9.24M |
| 4 |
Senseonics Holdings Inc
SENS
|
+$8.55M |
| 5 |
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 | |
|---|---|---|---|---|---|---|
|
1
Axogen
AXGN
$2.54B
| $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 |
|
|
4
NeoGenomics
NEO
$2.27B
| $76.6M | 7.22% |
9,927,269
+3,080,837
| +45% | +$21.6M |
|
|
5
Amylyx Pharmaceuticals
AMLX
$3.61B
| $45.6M | 4.3% |
+3,355,882
| New | +$31.6M |
|
|
CRNX
6
DELISTED
Crinetics Pharmaceuticals
CRNX
| $39.2M | 3.7% |
941,516
+77,380
| +9% | +$2.47M |
|
7
Health Catalyst
HCAT
$130M
| $38.3M | 3.61% |
13,436,220
+1,206,039
| +10% | +$4.13M |
|
|
PVLA
8
Palvella Therapeutics
PVLA
$2.18B
| $33.9M | 3.2% |
+541,544
| New | +$24.1M |
|
9
Twist Bioscience
TWST
$8.26B
| $33.6M | 3.17% |
1,194,883
+249,850
| +26% | +$7.57M |
|
|
LENZ
10
LENZ Therapeutics
LENZ
$154M
| $32.3M | 3.04% |
+693,044
| New | +$25.5M |
|
11
Organogenesis Holdings
ORGO
$202M
| $31.6M | 2.98% |
7,497,911
+720,748
| +11% | +$3.35M |
|
12
AtriCure
ATRC
$2.7B
| $31.4M | 2.96% |
890,362
-124,808
| -12% | -$4.3M |
|
|
13
AnaptysBio
ANAB
$1.65B
| $30.3M | 2.86% |
990,161
-2,549,432
| -72% | -$58.5M |
|
14
SI-BONE Inc
SIBN
$825M
| $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 |
|
16
iRhythm Holdings
IRTC
$3.94B
| $26.7M | 2.51% |
155,099
-32,256
| -17% | -$5.13M |
|
17
MiMedx Group
MDXG
$683M
| $25.5M | 2.4% |
3,652,952
+1,725,458
| +90% | +$12M |
|
18
Edgewise Therapeutics
EWTX
$4.71B
| $23M | 2.16% |
1,414,994
-299,025
| -17% | -$4.24M |
|
19
908 Devices
MASS
$401M
| $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 |
|
21
Rhythm Pharmaceuticals
RYTM
$6.96B
| $18.2M | 1.72% |
+180,484
| New | +$16.8M |
|
22
Guardant Health
GH
$21.8B
| $17.5M | 1.65% |
280,001
+151,133
| +117% | +$8.22M |
|
23
KORU Medical Systems
KRMD
$145M
| $17.3M | 1.63% |
4,527,737
-153,889
| -3% | -$589K |
|
24
Establishment Labs
ESTA
$2.22B
| $17.1M | 1.62% |
418,358
+1,201
| +0.3% | +$49.1K |
|
25
ADMA Biologics
ADMA
$2.12B
| $15.7M | 1.48% |
1,069,233
+117,137
| +12% | +$2.01M |
|
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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.