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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 | |
|---|---|---|---|---|---|---|---|
|
AXON
26
Axon Enterprise
AXON
$34.4B
| $2.54M | 1.12% |
+4,528
| New | +$1.89M |
2026 Q2
0 quarters
|
|
27
Bloom Energy
BE
$82.6B
| $2.52M | 1.11% |
+8,340
| New | +$2.14M |
2026 Q2
0 quarters
|
|
28
Cipher Digital
CIFR
$5.61B
| $2.41M | 1.06% |
+98,381
| New | +$2.08M |
2026 Q2
0 quarters
|
|
29
Lumentum
LITE
$99.9B
| $2.35M | 1.04% |
2,737
+1,326
| +94% | +$1.18M |
2025 Q4
2 quarters
|
|
|
CRWV
30
CoreWeave
CRWV
$45.3B
| $2.33M | 1.03% |
+23,373
| New | +$2.52M |
2026 Q2
0 quarters
|
|
31
Planet Labs
PL
$6.25B
| $2.18M | 0.96% |
+65,849
| New | +$2.43M |
2026 Q2
0 quarters
|
|
32
MongoDB
MDB
$31.1B
| $2.13M | 0.94% |
+6,347
| New | +$1.9M |
2026 Q2
0 quarters
|
|
33
Coherent
COHR
$61.6B
| $2.09M | 0.92% |
5,304
+1,586
| +43% | +$561K |
2026 Q1
1 quarter
|
|
34
Datadog
DDOG
$105B
| $2.08M | 0.92% |
+7,985
| New | +$1.48M |
2026 Q2
0 quarters
|
|
35
ClearPoint Neuro
CLPT
$320M
| $2.06M | 0.91% |
115,600
+19,760
| +21% | +$247K |
2025 Q4
2 quarters
|
|
36
Advanced Micro Devices
AMD
$993B
| $2.02M | 0.89% |
+3,481
| New | +$1.43M |
2026 Q2
0 quarters
|
|
37
AST SpaceMobile
ASTS
$15.3B
| $1.95M | 0.86% |
+21,895
| New | +$1.91M |
2026 Q2
0 quarters
|
|
38
Zscaler
ZS
$38.1B
| $1.88M | 0.83% |
+13,351
| New | +$1.86M |
2026 Q2
0 quarters
|
|
39
Rocket Lab Corp
RKLB
$43.6B
| $1.88M | 0.83% |
+18,492
| New | +$1.84M |
2026 Q2
0 quarters
|
|
40
Corning
GLW
$135B
| $1.82M | 0.8% |
+7,133
| New | +$1.3M |
2026 Q2
0 quarters
|
|
41
MGM Resorts International
MGM
$7.36B
| $1.82M | 0.8% |
+38,002
| New | +$1.58M |
2026 Q2
0 quarters
|
|
42
Intel
INTC
$553B
| $1.81M | 0.8% |
+12,950
| New | +$1.31M |
2026 Q2
0 quarters
|
|
43
Fluence Energy
FLNC
$1.06B
| $1.76M | 0.78% |
+88,375
| New | +$1.64M |
2026 Q2
0 quarters
|
|
|
DXYZ
44
Destiny Tech100
DXYZ
$937M
| $1.73M | 0.76% |
+67,104
| New | +$2.52M |
2026 Q2
0 quarters
|
|
45
Lightpath Technologies
LPTH
$681M
| $1.7M | 0.75% |
+103,995
| New | +$1.45M |
2026 Q2
0 quarters
|
|
|
NUAI
46
New Era Energy & Digital Inc
NUAI
$568M
| $1.61M | 0.71% |
+252,068
| New | +$1.22M |
2026 Q2
0 quarters
|
|
47
Lennar Class A
LEN
$18.2B
| $1.48M | 0.65% |
+16,368
| New | +$1.46M |
2026 Q2
0 quarters
|
|
|
KEEL
48
Keel Infrastructure Corp
KEEL
$1.88B
| $1.48M | 0.65% |
+257,503
| New | +$1.11M |
2026 Q2
0 quarters
|
|
49
Qualcomm
QCOM
$187B
| $1.46M | 0.64% |
+7,900
| New | +$1.48M |
2026 Q2
0 quarters
|
|
50
IBM
IBM
$214B
| $1.45M | 0.64% |
+5,162
| New | +$1.3M |
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.