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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
-1.36%
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
$1.12B
AUM Growth
-$192M
(-15%)
Cap. Flow
-$62M
Cap. Flow
% of AUM
-5.56%
Top 10 Holdings %
Top 10 Hldgs %
59.87%
Holding
40
New
7
Increased
9
Reduced
19
Closed
5
Top Buys
| Rank | Stock | Value |
|---|---|---|
| 1 |
PVLA
Palvella Therapeutics
PVLA
|
+$28.3M |
| 2 |
TriSalus Life Sciences
TLSI
|
+$24.8M |
| 3 |
GeneDx Holdings
WGS
|
+$22.2M |
| 4 |
Apogee Therapeutics
APGE
|
+$21.2M |
| 5 |
Omnicell
OMCL
|
+$20.5M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Disc Medicine
IRON
|
+$41.5M |
| 2 |
Axogen
AXGN
|
+$40M |
| 3 |
Madrigal Pharmaceuticals
MDGL
|
+$38.9M |
| 4 |
Vera Therapeutics
VERA
|
+$23.9M |
| 5 |
Rhythm Pharmaceuticals
RYTM
|
+$20.3M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Healthcare | 100% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
|
1
Axogen
AXGN
$2.77B
| $133M | 11.88% |
4,002,768
-1,230,558
| -24% | -$40M |
|
|
PVLA
2
Palvella Therapeutics
PVLA
$2.16B
| $122M | 10.96% |
980,758
+271,617
| +38% | +$28.3M |
|
3
NeoGenomics
NEO
$2.32B
| $72.2M | 6.47% |
9,729,978
-305,085
| -3% | -$3.21M |
|
4
SI-BONE Inc
SIBN
$861M
| $67.6M | 6.06% |
5,353,190
+320,286
| +6% | +$5.01M |
|
|
CNTA
5
DELISTED
Centessa Pharmaceuticals
CNTA
| $62M | 5.56% |
1,560,991
-717,949
| -32% | -$18.4M |
|
|
6
Apogee Therapeutics
APGE
$10.2B
| $48.5M | 4.35% |
576,684
+291,693
| +102% | +$21.2M |
|
7
Amylyx Pharmaceuticals
AMLX
$3.87B
| $44.3M | 3.97% |
3,190,645
-164,894
| -5% | -$2.32M |
|
8
Twist Bioscience
TWST
$8.87B
| $41.8M | 3.74% |
878,848
-261,923
| -23% | -$11.7M |
|
9
Crinetics Pharmaceuticals
CRNX
$9B
| $39.6M | 3.55% |
1,089,670
-104,593
| -9% | -$4.67M |
|
10
908 Devices
MASS
$444M
| $37.2M | 3.33% |
6,072,563
+1,236,377
| +26% | +$7.74M |
|
11
Neuropace
NPCE
$495M
| $32.3M | 2.9% |
2,459,966
+1,110,484
| +82% | +$16.7M |
|
12
Edgewise Therapeutics
EWTX
$4.64B
| $31.6M | 2.83% |
1,001,846
-571,855
| -36% | -$16.5M |
|
13
AnaptysBio
ANAB
$1.67B
| $31.4M | 2.81% |
565,431
-80,807
| -13% | -$4.35M |
|
14
Simulations Plus
SLP
$372M
| $31.1M | 2.79% |
2,632,823
+663,906
| +34% | +$9.79M |
|
15
Guardant Health
GH
$21.7B
| $25.9M | 2.32% |
280,299
-14,452
| -5% | -$1.45M |
|
16
Tandem Diabetes Care
TNDM
$1.49B
| $25.2M | 2.26% |
1,314,715
+225,222
| +21% | +$4.89M |
|
17
AtriCure
ATRC
$2.47B
| $20.8M | 1.87% |
729,521
-445,924
| -38% | -$15.2M |
|
|
18
TriSalus Life Sciences
TLSI
$297M
| $20.3M | 1.82% |
+5,066,827
| New | +$24.8M |
|
|
TECX
19
Tectonic Therapeutic
TECX
$696M
| $20M | 1.79% |
+647,743
| New | +$15.9M |
|
20
iRhythm Holdings
IRTC
$3.96B
| $19.8M | 1.78% |
168,116
+14,245
| +9% | +$2.06M |
|
|
SEPN
21
Septerna Inc
SEPN
$1.82B
| $17.6M | 1.58% |
732,860
+112,049
| +18% | +$2.95M |
|
22
Establishment Labs
ESTA
$2.11B
| $17.5M | 1.57% |
307,738
-65,344
| -18% | -$4.46M |
|
23
Health Catalyst
HCAT
$120M
| $16.4M | 1.47% |
12,878,700
-32,241
| -0.2% | -$60.6K |
|
|
24
Omnicell
OMCL
$1.51B
| $16.4M | 1.47% |
+489,846
| New | +$20.5M |
|
25
KORU Medical Systems
KRMD
$149M
| $16.3M | 1.46% |
3,768,380
-442,132
| -11% | -$2.19M |
|
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First Light Asset Management's Q1 2026 Portfolio in Review
As of Q1 2026, First Light Asset Management held 40 positions worth $1.12B, down 15% from $1.31B the previous quarter. Its ten largest holdings account for 60% of the portfolio.
First Light Asset Management withdrew a net $62M in Q1 2026, closing 5 positions and reducing 19 holdings. Its most notable exit was Disc Medicine, an estimated $41.5M 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 TriSalus Life Sciences worth $20.3M.
- First Light Asset Management's largest Q1 2026 buy was TriSalus Life Sciences: 5,066,827 shares worth $20.3M.
- First Light Asset Management added most to Palvella Therapeutics in Q1 2026, an estimated $28.3M increase.
- First Light Asset Management's biggest Q1 2026 reduction was Axogen, cutting an estimated $40M.
- First Light Asset Management fully exited Disc Medicine in Q1 2026, selling an estimated $41.5M.
- First Light Asset Management's ten largest holdings make up 60% of its $1.12B portfolio in Q1 2026.
- First Light Asset Management opened 7 new positions and closed 5 in Q1 2026.
- First Light Asset Management's portfolio value fell 15% quarter-over-quarter to $1.12B.
Based on First Light Asset Management's 13F filing for Q1 2026, filed 15 May 2026.