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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
-$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
0.8
quarters
Top 10 Avg Time Held Equity + Options
0.6
quarters
Top 20 Avg Time Held Equity + Options
0.8
quarters
Avg Time Held Equity only
0.8
quarters
Top 10 Avg Time Held Equity only
0.6
quarters
Top 20 Avg Time Held Equity only
0.8
quarters
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 | |
|---|---|---|---|---|---|---|---|
|
1
Transmedics
TMDX
$2.7B
| $12.4M | 13.13% |
124,268
+49,706
| +67% | +$6.48M |
2025 Q4
1 quarter
|
|
|
NBIS
2
Nebius Group N.V.
NBIS
$60.1B
| $9.28M | 9.86% |
89,399
+3,537
| +4% | +$353K |
2025 Q4
1 quarter
|
|
|
3
Applovin
APP
$92.7B
| $7.91M | 8.41% |
19,873
+11,541
| +139% | +$5.58M |
2025 Q4
1 quarter
|
|
|
4
Reddit
RDDT
$30.8B
| $7.28M | 7.73% |
54,033
+28,641
| +113% | +$4.87M |
2025 Q4
1 quarter
|
|
5
Hims & Hers Health
HIMS
$7.21B
| $5.4M | 5.74% |
260,247
+72,590
| +39% | +$1.71M |
2025 Q4
1 quarter
|
|
6
Coupang
CPNG
$28.4B
| $5.29M | 5.63% |
280,435
-5,078
| -2% | -$99.4K |
2025 Q4
1 quarter
|
|
|
7
Harrow
HROW
$1.1B
| $5.07M | 5.39% |
143,923
+49,970
| +53% | +$2.2M |
2025 Q4
1 quarter
|
|
8
Credo Technology Group
CRDO
$40.7B
| $4.57M | 4.86% |
48,662
+14,284
| +42% | +$1.74M |
2025 Q4
1 quarter
|
|
|
9
Mercado Libre
MELI
$95.8B
| $4.54M | 4.83% |
2,627
+1,400
| +114% | +$2.7M |
2025 Q4
1 quarter
|
|
10
Nu Holdings
NU
$77.9B
| $4.16M | 4.43% |
289,752
+131,216
| +83% | +$2.13M |
2025 Q4
1 quarter
|
|
11
Iris Energy
IREN
$13.9B
| $4.07M | 4.32% |
118,614
-42,270
| -26% | -$1.91M |
2025 Q4
1 quarter
|
|
12
Sea Limited
SE
$58.3B
| $3.13M | 3.32% |
37,751
-1,835
| -5% | -$197K |
2025 Q4
1 quarter
|
|
13
Astera Labs
ALAB
$59.4B
| $2.99M | 3.18% |
27,290
-2,679
| -9% | -$382K |
2025 Q4
1 quarter
|
|
14
MP Materials
MP
$8.22B
| $2.4M | 2.55% |
49,653
-8,723
| -15% | -$522K |
2025 Q4
1 quarter
|
|
15
Procept Biorobotics
PRCT
$1.05B
| $2.01M | 2.14% |
80,339
-39,184
| -33% | -$1.1M |
2025 Q4
1 quarter
|
|
16
On Holding
ONON
$11.7B
| $2M | 2.12% |
58,726
-37,048
| -39% | -$1.62M |
2025 Q4
1 quarter
|
|
17
Applied Optoelectronics
AAOI
$9.31B
| $1.65M | 1.75% |
+19,454
| New | +$1.24M |
2026 Q1
0 quarters
|
|
18
Robinhood
HOOD
$98B
| $1.56M | 1.66% |
+22,572
| New | +$1.98M |
2026 Q1
0 quarters
|
|
19
Ondas Inc
ONDS
$3.92B
| $1.44M | 1.53% |
159,094
-55,005
| -26% | -$598K |
2025 Q4
1 quarter
|
|
|
20
Celsius Holdings
CELH
$7.23B
| $1.17M | 1.24% |
32,934
-67,645
| -67% | -$3.21M |
2025 Q4
1 quarter
|
|
21
Micron Technology
MU
$1.16T
| $1.05M | 1.11% |
+3,103
| New | +$1.22M |
2026 Q1
0 quarters
|
|
22
Lumentum
LITE
$99.9B
| $992K | 1.05% |
1,411
-1,823
| -56% | -$1M |
2025 Q4
1 quarter
|
|
23
SoFi Technologies
SOFI
$20.4B
| $887K | 0.94% |
+55,835
| New | +$1.18M |
2026 Q1
0 quarters
|
|
24
Coherent
COHR
$61.6B
| $886K | 0.94% |
+3,718
| New | +$851K |
2026 Q1
0 quarters
|
|
|
25
ClearPoint Neuro
CLPT
$320M
| $872K | 0.93% |
95,840
-267,569
| -74% | -$3.38M |
2025 Q4
1 quarter
|
|
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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.