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FCM
FirstWave Capital Management Portfolio holdings
AUM
$227M
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
+$220M
Cap. Flow
% of AUM
233.64%
Top 10 Holdings %
Top 10 Hldgs %
70%
Holding
79
New
6
Increased
9
Reduced
12
Closed
52
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 | |
|---|---|---|---|---|---|---|
|
CRCL
26
Circle Internet Group
CRCL
$22.8B
| $770K | 0.82% |
8,075
-3,128
| -28% | -$265K |
|
27
CALL
State Street SPDR S&P 500 ETF Trust
SPY
$822B
| $362K | 0.38% |
+400,000
| New | +$272M |
|
28
ACM Research
ACMR
$5.5B
| – | – |
-29,491
| Closed | -$1.16M |
|
29
Ambarella
AMBA
$3.06B
| – | – |
-33,075
| Closed | -$2.34M |
|
30
Advanced Micro Devices
AMD
$790B
| – | – |
-3,856
| Closed | -$826K |
|
31
Aspen Aerogels
ASPN
$435M
| – | – |
-372,001
| Closed | -$1.05M |
|
32
ASE Group
ASX
$96.7B
| – | – |
-84,380
| Closed | -$1.36M |
|
33
Alphatec Holdings
ATEC
$1.44B
| – | – |
-52,726
| Closed | -$1.11M |
|
34
AeroVironment
AVAV
$7.52B
| – | – |
-5,602
| Closed | -$1.36M |
|
35
AXT Inc
AXTI
$4.29B
| – | – |
-44,543
| Closed | -$728K |
|
36
Alibaba
BABA
$288B
| – | – |
-6,185
| Closed | -$907K |
|
37
Cameco
CCJ
$46.8B
| – | – |
-9,816
| Closed | -$898K |
|
38
Cipher Digital
CIFR
$6.7B
| – | – |
-76,124
| Closed | -$1.12M |
|
39
Salesforce
CRM
$167B
| – | – |
-1,972
| Closed | -$522K |
|
40
Carvana
CVNA
$81.6B
| – | – |
-12,880
| Closed | -$1.09M |
|
41
Dave Inc
DAVE
$4.63B
| – | – |
-5,293
| Closed | -$1.17M |
|
42
Datadog
DDOG
$82.1B
| – | – |
-7,418
| Closed | -$1.01M |
|
43
dLocal
DLO
$4.57B
| – | – |
-73,572
| Closed | -$1.04M |
|
44
Duolingo
DUOL
$6.54B
| – | – |
-4,345
| Closed | -$763K |
|
45
Eos Energy Enterprises
EOSE
$1.22B
| – | – |
-97,326
| Closed | -$1.12M |
|
46
Freeport-McMoran
FCX
$113B
| – | – |
-15,544
| Closed | -$789K |
|
47
Comfort Systems
FIX
$56.5B
| – | – |
-1,225
| Closed | -$1.14M |
|
48
Fluence Energy
FLNC
$1.56B
| – | – |
-55,306
| Closed | -$1.09M |
|
|
49
Shift4
FOUR
$3.74B
| – | – |
-82,871
| Closed | -$5.22M |
|
50
FTAI Aviation
FTAI
$20.7B
| – | – |
-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 deployed $220M of net new capital in Q1 2026, opening 6 new positions and adding to 9 existing holdings. Its largest new stake was Robinhood: 22,572 shares worth $1.56M.
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.
On the sell side, the largest reduction was ClearPoint Neuro, an estimated $3.38M trimmed.
- 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.