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FCM
FirstWave Capital Management Portfolio holdings
AUM
$227M
This Fund
S&P 500
This Quarter
Est. Return
+72.03%
1 Year Est. Return
–
3 Year Est. Return
–
5 Year Est. Return
–
10 Year Est. Return
–
AUM
$227M
AUM Growth
+$132M
(+141%)
Cap. Flow
+$83.7M
Cap. Flow
% of AUM
36.95%
Top 10 Holdings %
Top 10 Hldgs %
47.03%
Holding
69
New
42
Increased
17
Reduced
4
Closed
6
Avg Time Held Equity + Options
0.6
quarters
Top 10 Avg Time Held Equity + Options
1.4
quarters
Top 20 Avg Time Held Equity + Options
1.3
quarters
Avg Time Held Equity only
0.6
quarters
Top 10 Avg Time Held Equity only
1.4
quarters
Top 20 Avg Time Held Equity only
1.3
quarters
Top Buys
| Rank | Stock | Value |
|---|---|---|
| 1 |
Applied Optoelectronics
AAOI
|
+$6.31M |
| 2 |
Transmedics
TMDX
|
+$5.67M |
| 3 |
Reddit
RDDT
|
+$3.74M |
| 4 |
FPS
Forgent Power Solutions
FPS
|
+$3.54M |
| 5 |
Zeta Global
ZETA
|
+$3.13M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
NBIS
Nebius Group N.V.
NBIS
|
+$8.86M |
| 2 |
Astera Labs
ALAB
|
+$4.34M |
| 3 |
Coupang
CPNG
|
+$3.63M |
| 4 |
On Holding
ONON
|
+$2M |
| 5 |
Robinhood
HOOD
|
+$1.56M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Technology | 38.08% |
| 2 | Healthcare | 18.22% |
| 3 | Communication Services | 17.15% |
| 4 | Consumer Discretionary | 7.3% |
| 5 | Financials | 7.08% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | Held Since | |
|---|---|---|---|---|---|---|---|
|
1
Reddit
RDDT
$30.8B
| $13.4M | 5.93% |
77,389
+23,356
| +43% | +$3.74M |
2025 Q4
2 quarters
|
|
2
Applovin
APP
$92.7B
| $13.1M | 5.78% |
25,426
+5,553
| +28% | +$2.68M |
2025 Q4
2 quarters
|
|
|
3
Transmedics
TMDX
$2.7B
| $12.7M | 5.61% |
191,240
+66,972
| +54% | +$5.67M |
2025 Q4
2 quarters
|
|
|
NBIS
4
Nebius Group N.V.
NBIS
$60.1B
| $12.3M | 5.44% |
44,645
-44,754
| -50% | -$8.86M |
2025 Q4
2 quarters
|
|
5
Hims & Hers Health
HIMS
$7.21B
| $11.8M | 5.2% |
339,978
+79,731
| +31% | +$2.14M |
2025 Q4
2 quarters
|
|
6
Credo Technology Group
CRDO
$40.7B
| $11.1M | 4.9% |
40,819
-7,843
| -16% | -$1.55M |
2025 Q4
2 quarters
|
|
7
Harrow
HROW
$1.1B
| $9M | 3.97% |
211,981
+68,058
| +47% | +$2.53M |
2025 Q4
2 quarters
|
|
|
8
Applied Optoelectronics
AAOI
$9.31B
| $8.63M | 3.81% |
58,277
+38,823
| +200% | +$6.31M |
2026 Q1
1 quarter
|
|
9
Mercado Libre
MELI
$95.8B
| $7.55M | 3.33% |
4,448
+1,821
| +69% | +$3.11M |
2025 Q4
2 quarters
|
|
10
Nu Holdings
NU
$77.9B
| $6.92M | 3.06% |
518,327
+228,575
| +79% | +$3.08M |
2025 Q4
2 quarters
|
|
11
Iris Energy
IREN
$13.9B
| $5.65M | 2.49% |
123,456
+4,842
| +4% | +$252K |
2025 Q4
2 quarters
|
|
12
Micron Technology
MU
$1.16T
| $5.32M | 2.35% |
4,612
+1,509
| +49% | +$1.13M |
2026 Q1
1 quarter
|
|
|
13
Astera Labs
ALAB
$59.4B
| $5.29M | 2.33% |
10,953
-16,337
| -60% | -$4.34M |
2025 Q4
2 quarters
|
|
|
FPS
14
Forgent Power Solutions
FPS
$11B
| $4.34M | 1.91% |
+77,617
| New | +$3.54M |
2026 Q2
0 quarters
|
|
15
Sea Limited
SE
$58.3B
| $4.32M | 1.91% |
45,120
+7,369
| +20% | +$648K |
2025 Q4
2 quarters
|
|
|
DRAM
16
Roundhill Memory ETF
DRAM
$26.9B
| $3.68M | 1.62% |
+49,852
| New | +$2.6M |
2026 Q2
0 quarters
|
|
|
SHAZ
17
SharonAI Holdings
SHAZ
$1.36B
| $3.53M | 1.56% |
+41,694
| New | +$2.35M |
2026 Q2
0 quarters
|
|
18
MP Materials
MP
$8.22B
| $3.44M | 1.52% |
61,473
+11,820
| +24% | +$719K |
2025 Q4
2 quarters
|
|
|
BRUN
19
Boost Run Inc
BRUN
$1.05B
| $3.44M | 1.52% |
+88,631
| New | +$2.75M |
2026 Q2
0 quarters
|
|
|
20
Zeta Global
ZETA
$8.31B
| $3.32M | 1.47% |
+168,692
| New | +$3.13M |
2026 Q2
0 quarters
|
|
21
Procept Biorobotics
PRCT
$1.05B
| $3.26M | 1.44% |
144,408
+64,069
| +80% | +$1.6M |
2025 Q4
2 quarters
|
|
22
Ouster
OUST
$2.88B
| $2.88M | 1.27% |
+46,043
| New | +$1.55M |
2026 Q2
0 quarters
|
|
23
NVIDIA
NVDA
$5.54T
| $2.79M | 1.23% |
+13,965
| New | +$2.87M |
2026 Q2
0 quarters
|
|
24
Ondas Inc
ONDS
$3.92B
| $2.72M | 1.2% |
330,115
+171,021
| +107% | +$1.69M |
2025 Q4
2 quarters
|
|
25
Rubrik
RBRK
$25.9B
| $2.71M | 1.2% |
+33,807
| New | +$2.13M |
2026 Q2
0 quarters
|
|
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FirstWave Capital Management's Q2 2026 Portfolio in Review
As of Q2 2026, FirstWave Capital Management held 69 positions worth $227M, up 141% from $94.1M the previous quarter. Its ten largest holdings account for 47% of the portfolio.
FirstWave Capital Management deployed $83.7M of net new capital in Q2 2026, opening 42 new positions and adding to 17 existing holdings. Its largest new stake was Forgent Power Solutions: 77,617 shares worth $4.34M.
By sector, the portfolio is most concentrated in Technology at 38% of assets, up from 14% a quarter earlier, followed by Healthcare and Communication Services.
On the sell side, the largest reduction was Nebius Group N.V., an estimated $8.86M trimmed.
- FirstWave Capital Management's largest Q2 2026 buy was Forgent Power Solutions: 77,617 shares worth $4.34M.
- FirstWave Capital Management added most to Applied Optoelectronics in Q2 2026, an estimated $6.31M increase.
- FirstWave Capital Management's biggest Q2 2026 reduction was Nebius Group N.V., cutting an estimated $8.86M.
- FirstWave Capital Management fully exited On Holding in Q2 2026, selling an estimated $2M.
- FirstWave Capital Management's ten largest holdings make up 47% of its $227M portfolio in Q2 2026.
- FirstWave Capital Management opened 42 new positions and closed 6 in Q2 2026.
- FirstWave Capital Management's portfolio value rose 141% quarter-over-quarter to $227M.
Based on FirstWave Capital Management's 13F filing for Q2 2026, filed 12 Aug 2026.