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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
AXON
26
Axon Enterprise
AXON
$49B
$2.54M 1.12%
+4,528
New +$1.89M
BE icon
27
Bloom Energy
BE
$62.9B
$2.52M 1.11%
+8,340
New +$2.14M
CIFR icon
28
Cipher Digital
CIFR
$6.67B
$2.41M 1.06%
+98,381
New +$2.08M
LITE icon
29
Lumentum
LITE
$82.5B
$2.35M 1.04%
2,737
+1,326
+94% +$1.18M
CRWV
30
CoreWeave
CRWV
$48.2B
$2.33M 1.03%
+23,373
New +$2.52M
PL icon
31
Planet Labs
PL
$7.59B
$2.18M 0.96%
+65,849
New +$2.43M
MDB icon
32
MongoDB
MDB
$32.3B
$2.13M 0.94%
+6,347
New +$1.9M
COHR icon
33
Coherent
COHR
$56.6B
$2.09M 0.92%
5,304
+1,586
+43% +$561K
DDOG icon
34
Datadog
DDOG
$82.5B
$2.08M 0.92%
+7,985
New +$1.48M
CLPT icon
35
ClearPoint Neuro
CLPT
$496M
$2.06M 0.91%
115,600
+19,760
+21% +$247K
AMD icon
36
Advanced Micro Devices
AMD
$788B
$2.02M 0.89%
+3,481
New +$1.43M
ASTS icon
37
AST SpaceMobile
ASTS
$18B
$1.95M 0.86%
+21,895
New +$1.91M
ZS icon
38
Zscaler
ZS
$27.1B
$1.88M 0.83%
+13,351
New +$1.86M
RKLB icon
39
Rocket Lab Corp
RKLB
$42.5B
$1.88M 0.83%
+18,492
New +$1.84M
GLW icon
40
Corning
GLW
$129B
$1.82M 0.8%
+7,133
New +$1.3M
MGM icon
41
MGM Resorts International
MGM
$10.9B
$1.82M 0.8%
+38,002
New +$1.58M
INTC icon
42
Intel
INTC
$458B
$1.81M 0.8%
+12,950
New +$1.31M
FLNC icon
43
Fluence Energy
FLNC
$1.56B
$1.76M 0.78%
+88,375
New +$1.64M
DXYZ
44
Destiny Tech100
DXYZ
$1.04B
$1.73M 0.76%
+67,104
New +$2.52M
LPTH icon
45
Lightpath Technologies
LPTH
$828M
$1.7M 0.75%
+103,995
New +$1.45M
NUAI
46
New Era Energy & Digital Inc
NUAI
$531M
$1.61M 0.71%
+252,068
New +$1.22M
LEN icon
47
Lennar Class A
LEN
$21.1B
$1.48M 0.65%
+16,368
New +$1.46M
KEEL
48
Keel Infrastructure Corp
KEEL
$2.11B
$1.48M 0.65%
+257,503
New +$1.11M
QCOM icon
49
Qualcomm
QCOM
$173B
$1.46M 0.64%
+7,900
New +$1.48M
IBM icon
50
IBM
IBM
$216B
$1.45M 0.64%
+5,162
New +$1.3M
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.