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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 | |
|---|---|---|---|---|---|---|---|
51
Harmonic Inc
HLIT
$1.2B
| $1.39M | 0.61% |
+84,874
| New | +$1.08M |
2026 Q2
0 quarters
|
|
|
52
Coupang
CPNG
$28.4B
| $1.38M | 0.61% |
79,317
-201,118
| -72% | -$3.63M |
2025 Q4
2 quarters
|
|
53
Fastly Inc
FSLY
$4.67B
| $1.34M | 0.59% |
+73,227
| New | +$1.59M |
2026 Q2
0 quarters
|
|
54
Listed Funds Trust Roundhill Magnificent Seven ETF
MAGS
$5.72B
| $1.29M | 0.57% |
+20,000
| New | +$1.32M |
2026 Q2
0 quarters
|
|
|
GLXY
55
Galaxy Digital Inc
GLXY
$3.95B
| $1.26M | 0.56% |
+46,152
| New | +$1.28M |
2026 Q2
0 quarters
|
|
56
Alphatec Holdings
ATEC
$1.65B
| $1.24M | 0.55% |
+143,851
| New | +$1.31M |
2026 Q2
0 quarters
|
|
57
Twilio
TWLO
$44.5B
| $1.24M | 0.55% |
+6,025
| New | +$1.07M |
2026 Q2
0 quarters
|
|
58
Butterfly Network
BFLY
$2.2B
| $1.22M | 0.54% |
+145,398
| New | +$753K |
2026 Q2
0 quarters
|
|
|
CCXI
59
Churchill Capital Corp XI
CCXI
$609M
| $1.11M | 0.49% |
+63,781
| New | +$679K |
2026 Q2
0 quarters
|
|
60
CleanSpark
CLSK
$2.69B
| $1.09M | 0.48% |
+74,622
| New | +$1.05M |
2026 Q2
0 quarters
|
|
|
BMM
61
Blue Moon Metals Inc
BMM
$511M
| $1.08M | 0.48% |
+168,555
| New | +$1.2M |
2026 Q2
0 quarters
|
|
62
Cameco
CCJ
$38.4B
| $977K | 0.43% |
+9,593
| New | +$1.08M |
2026 Q2
0 quarters
|
|
63
PUT
iShares MSCI USA Momentum Factor ETF
MTUM
$20.5B
| $154K | 0.07% |
+42,500
| New | +$12.7M |
2026 Q2
0 quarters
|
|
64
Celsius Holdings
CELH
$7.23B
| – | – |
-32,934
| Closed | -$1.17M | – |
|
|
65
Robinhood
HOOD
$98B
| – | – |
-22,572
| Closed | -$1.56M | – |
|
|
66
On Holding
ONON
$11.7B
| – | – |
-58,726
| Closed | -$2M | – |
|
67
SoFi Technologies
SOFI
$20.4B
| – | – |
-55,835
| Closed | -$887K | – |
|
68
CALL
State Street SPDR S&P 500 ETF Trust
SPY
$833B
| – | – |
-400,000
| Closed | -$362K | – |
|
|
CRCL
69
Circle Internet Group
CRCL
$21.5B
| – | – |
-8,075
| Closed | -$770K | – |
|
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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.