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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
Cap. Flow
+$96.1M
Cap. Flow %
42.39%
Top 10 Hldgs %
47.03%
Holding
69
New
42
Increased
17
Reduced
4
Closed
6

Top Buys

Rank Stock Value
1
AAOI icon
Applied Optoelectronics
AAOI
+$6.31M
2
TMDX icon
Transmedics
TMDX
+$5.67M
3
RDDT icon
Reddit
RDDT
+$3.74M
4
FPS
Forgent Power Solutions
FPS
+$3.54M
5
ZETA icon
Zeta Global
ZETA
+$3.13M

Top Sells

Rank Stock Value
1
NBIS
Nebius Group N.V.
NBIS
+$8.86M
2
ALAB icon
Astera Labs
ALAB
+$4.34M
3
CPNG icon
Coupang
CPNG
+$3.63M
4
ONON icon
On Holding
ONON
+$2M
5
HOOD icon
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
RDDT icon
1
Reddit
RDDT
$31.3B
$13.4M 5.93%
77,389
+23,356
+43% +$3.74M
APP icon
2
Applovin
APP
$104B
$13.1M 5.78%
25,426
+5,553
+28% +$2.68M
TMDX icon
3
Transmedics
TMDX
$3.25B
$12.7M 5.61%
191,240
+66,972
+54% +$5.67M
NBIS
4
Nebius Group N.V.
NBIS
$60.3B
$12.3M 5.44%
44,645
-44,754
-50% -$8.86M
HIMS icon
5
Hims & Hers Health
HIMS
$7.41B
$11.8M 5.2%
339,978
+79,731
+31% +$2.14M
CRDO icon
6
Credo Technology Group
CRDO
$42.2B
$11.1M 4.9%
40,819
-7,843
-16% -$1.55M
HROW icon
7
Harrow
HROW
$1.55B
$9M 3.97%
211,981
+68,058
+47% +$2.53M
AAOI icon
8
Applied Optoelectronics
AAOI
$9.61B
$8.63M 3.81%
58,277
+38,823
+200% +$6.31M
MELI icon
9
Mercado Libre
MELI
$101B
$7.55M 3.33%
4,448
+1,821
+69% +$3.11M
NU icon
10
Nu Holdings
NU
$73.1B
$6.92M 3.06%
518,327
+228,575
+79% +$3.08M
IREN icon
11
Iris Energy
IREN
$15.1B
$5.65M 2.49%
123,456
+4,842
+4% +$252K
MU icon
12
Micron Technology
MU
$1.05T
$5.32M 2.35%
4,612
+1,509
+49% +$1.13M
ALAB icon
13
Astera Labs
ALAB
$49B
$5.29M 2.33%
10,953
-16,337
-60% -$4.34M
FPS
14
Forgent Power Solutions
FPS
$8.37B
$4.34M 1.91%
+77,617
New +$3.54M
SE icon
15
Sea Limited
SE
$75.4B
$4.32M 1.91%
45,120
+7,369
+20% +$648K
DRAM
16
Roundhill Memory ETF
DRAM
$26.4B
$3.68M 1.62%
+49,852
New +$2.6M
SHAZ
17
SharonAI Holdings
SHAZ
$2.18B
$3.53M 1.56%
+41,694
New +$2.35M
MP icon
18
MP Materials
MP
$10.7B
$3.44M 1.52%
61,473
+11,820
+24% +$719K
BRUN
19
Boost Run Inc
BRUN
$1.49B
$3.44M 1.52%
+88,631
New +$2.75M
ZETA icon
20
Zeta Global
ZETA
$7B
$3.32M 1.47%
+168,692
New +$3.13M
PRCT icon
21
Procept Biorobotics
PRCT
$1.24B
$3.26M 1.44%
144,408
+64,069
+80% +$1.6M
OUST icon
22
Ouster
OUST
$2.61B
$2.88M 1.27%
+46,043
New +$1.55M
NVDA icon
23
NVIDIA
NVDA
$5.16T
$2.79M 1.23%
+13,965
New +$2.87M
ONDS icon
24
Ondas Inc
ONDS
$4.7B
$2.72M 1.2%
330,115
+171,021
+107% +$1.69M
RBRK icon
25
Rubrik
RBRK
$19.1B
$2.71M 1.2%
+33,807
New +$2.13M
1
2 3

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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 $96.1M 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.