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FCM
FirstWave Capital Management Portfolio holdings
AUM
$227M
Turnover
69.57%
This Fund
S&P 500
This Quarter
Est. Return
-15.84%
1 Year Est. Return
–
3 Year Est. Return
–
5 Year Est. Return
–
10 Year Est. Return
–
AUM
$94.1M
AUM Growth
-$74.3M
(-44%)
Cap. Flow
-$52.2M
Cap. Flow
% of AUM
-55.43%
Top 10 Holdings %
Top 10 Hldgs %
70%
Holding
79
New
6
Increased
9
Reduced
12
Closed
52
Avg Time Held Equity + Options
0.2
years
Top 10 Avg Time Held Equity + Options
0.2
years
Top 20 Avg Time Held Equity + Options
0.2
years
Avg Time Held Equity only
0.2
years
Top 10 Avg Time Held Equity only
0.2
years
Top 20 Avg Time Held Equity only
0.2
years
Top Buys
| Rank | Stock | Value |
|---|---|---|
| 1 |
Transmedics
TMDX
|
+$6.48M |
| 2 |
Applovin
APP
|
+$5.58M |
| 3 |
Reddit
RDDT
|
+$4.87M |
| 4 |
Mercado Libre
MELI
|
+$2.7M |
| 5 |
Harrow
HROW
|
+$2.2M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Shift4
FOUR
|
+$5.22M |
| 2 |
2x Long VIX Futures ETF
UVIX
|
+$5.03M |
| 3 |
ClearPoint Neuro
CLPT
|
+$3.38M |
| 4 |
Celsius Holdings
CELH
|
+$3.21M |
| 5 |
Zeta Global
ZETA
|
+$3.08M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Healthcare | 27.33% |
| 2 | Communication Services | 26% |
| 3 | Consumer Discretionary | 15.9% |
| 4 | Technology | 14.42% |
| 5 | Financials | 12.17% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | Held Since | |
|---|---|---|---|---|---|---|---|
26
Circle Internet Group
CRCL
$20.9B
| $770K | 0.82% |
8,075
-3,128
| -28% | -$265K |
2025 Q4
1 quarter
|
|
27
CALL
State Street SPDR S&P 500 ETF Trust
SPY
$806B
| $362K | 0.38% |
+400,000
| New | +$272M |
2026 Q1
0 quarters
|
|
28
ACM Research
ACMR
$3.7B
| – | – |
-29,491
| Closed | -$1.16M | – |
|
29
Ambarella
AMBA
$2.72B
| – | – |
-33,075
| Closed | -$2.34M | – |
|
30
Advanced Micro Devices
AMD
$863B
| – | – |
-3,856
| Closed | -$826K | – |
|
31
Aspen Aerogels
ASPN
$431M
| – | – |
-372,001
| Closed | -$1.05M | – |
|
32
ASE Group
ASX
$103B
| – | – |
-84,380
| Closed | -$1.36M | – |
|
33
Alphatec Holdings
ATEC
$1.62B
| – | – |
-52,726
| Closed | -$1.11M | – |
|
34
AeroVironment
AVAV
$6.19B
| – | – |
-5,602
| Closed | -$1.36M | – |
|
35
AXT Inc
AXTI
$3.38B
| – | – |
-44,543
| Closed | -$728K | – |
|
36
Alibaba
BABA
$271B
| – | – |
-6,185
| Closed | -$907K | – |
|
37
Cameco
CCJ
$35.5B
| – | – |
-9,816
| Closed | -$898K | – |
|
38
Cipher Digital
CIFR
$3.73B
| – | – |
-76,124
| Closed | -$1.12M | – |
|
39
Salesforce
CRM
$198B
| – | – |
-1,972
| Closed | -$522K | – |
|
40
Carvana
CVNA
$64.7B
| – | – |
-12,880
| Closed | -$1.09M | – |
|
41
Dave Inc
DAVE
$4.69B
| – | – |
-5,293
| Closed | -$1.17M | – |
|
42
Datadog
DDOG
$88.7B
| – | – |
-7,418
| Closed | -$1.01M | – |
|
43
dLocal
DLO
$4.32B
| – | – |
-73,572
| Closed | -$1.04M | – |
|
44
Duolingo
DUOL
$6.63B
| – | – |
-4,345
| Closed | -$763K | – |
|
45
Eos Energy Enterprises
EOSE
$663M
| – | – |
-97,326
| Closed | -$1.12M | – |
|
46
Freeport-McMoran
FCX
$99.9B
| – | – |
-15,544
| Closed | -$789K | – |
|
47
Comfort Systems
FIX
$50.6B
| – | – |
-1,225
| Closed | -$1.14M | – |
|
48
Fluence Energy
FLNC
$830M
| – | – |
-55,306
| Closed | -$1.09M | – |
|
|
49
Shift4
FOUR
$3.11B
| – | – |
-82,871
| Closed | -$5.22M | – |
|
50
FTAI Aviation
FTAI
$16.9B
| – | – |
-11,394
| Closed | -$2.24M | – |
|
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FirstWave Capital Management's Q1 2026 Portfolio in Review
As of Q1 2026, FirstWave Capital Management held 79 positions worth $94.1M, down 44% from $168M the previous quarter. Its ten largest holdings account for 70% of the portfolio.
FirstWave Capital Management withdrew a net $52.2M in Q1 2026, closing 52 positions and reducing 12 holdings. Its most notable exit was Shift4, an estimated $5.22M position sold in full.
By sector, the portfolio is most concentrated in Healthcare at 27% of assets, up from 20% a quarter earlier, followed by Communication Services and Consumer Discretionary.
Against the trend, FirstWave Capital Management opened a new position in Robinhood worth $1.56M.
- FirstWave Capital Management's largest Q1 2026 buy was Robinhood: 22,572 shares worth $1.56M.
- FirstWave Capital Management added most to Transmedics in Q1 2026, an estimated $6.48M increase.
- FirstWave Capital Management's biggest Q1 2026 reduction was ClearPoint Neuro, cutting an estimated $3.38M.
- FirstWave Capital Management fully exited Shift4 in Q1 2026, selling an estimated $5.22M.
- FirstWave Capital Management's ten largest holdings make up 70% of its $94.1M portfolio in Q1 2026.
- FirstWave Capital Management opened 6 new positions and closed 52 in Q1 2026.
- FirstWave Capital Management's portfolio value fell 44% quarter-over-quarter to $94.1M.
Based on FirstWave Capital Management's 13F filing for Q1 2026, filed 12 May 2026.