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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
HLIT icon
51
Harmonic Inc
HLIT
$1.35B
$1.39M 0.61%
+84,874
New +$1.08M
CPNG icon
52
Coupang
CPNG
$29.7B
$1.38M 0.61%
79,317
-201,118
-72% -$3.63M
FSLY icon
53
Fastly Inc
FSLY
$3.72B
$1.34M 0.59%
+73,227
New +$1.59M
MAGS icon
54
Listed Funds Trust Roundhill Magnificent Seven ETF
MAGS
$4.17B
$1.29M 0.57%
+20,000
New +$1.32M
GLXY
55
Galaxy Digital Inc
GLXY
$4.66B
$1.26M 0.56%
+46,152
New +$1.28M
ATEC icon
56
Alphatec Holdings
ATEC
$1.44B
$1.24M 0.55%
+143,851
New +$1.31M
TWLO icon
57
Twilio
TWLO
$34.7B
$1.24M 0.55%
+6,025
New +$1.07M
BFLY icon
58
Butterfly Network
BFLY
$2.27B
$1.22M 0.54%
+145,398
New +$753K
CCXI
59
Churchill Capital Corp XI
CCXI
$800M
$1.11M 0.49%
+63,781
New +$679K
CLSK icon
60
CleanSpark
CLSK
$3.13B
$1.09M 0.48%
+74,622
New +$1.05M
BMM
61
Blue Moon Metals Inc
BMM
$592M
$1.08M 0.48%
+168,555
New +$1.2M
CCJ icon
62
Cameco
CCJ
$46.8B
$977K 0.43%
+9,593
New +$1.08M
MTUM icon
63
PUT
iShares MSCI USA Momentum Factor ETF
MTUM
$24.7B
$154K 0.07%
+42,500
New +$12.7M
CELH icon
64
Celsius Holdings
CELH
$8.81B
– –
-32,934
Closed -$1.17M
HOOD icon
65
Robinhood
HOOD
$97.8B
– –
-22,572
Closed -$1.56M
ONON icon
66
On Holding
ONON
$9.74B
– –
-58,726
Closed -$2M
SOFI icon
67
SoFi Technologies
SOFI
$24.3B
– –
-55,835
Closed -$887K
SPY icon
68
CALL
State Street SPDR S&P 500 ETF Trust
SPY
$821B
– –
-400,000
Closed -$362K
CRCL
69
Circle Internet Group
CRCL
$22.5B
– –
-8,075
Closed -$770K
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.