Latest First Light Asset Management, LLC Stock Portfolio

First Light Asset Management, LLC Performance:

2025 Q3: 15.63%YTD: 0.44%2024: 5.94%

Performance for 2025 Q3 is 15.63%, and YTD is 0.44%, and 2024 is 5.94%.

About First Light Asset Management, LLC and 13F Hedge Fund Stock Holdings

In it's latest 13F Holdings report, First Light Asset Management, LLC reported an equity portfolio of $1.1 Billions as of 30 Sep, 2025.

The top stock holdings of First Light Asset Management, LLC are AXGN, PFMT, CNTA. The fund has invested 9.8% of it's portfolio in AXOGEN INC and 8.5% of portfolio in PERFORMANT HEALTHCARE INC.

The fund managers got completely rid off ELEDON PHARMACEUTICALS INC (ELDN), INSMED INC (INSM) and XENON PHARMACEUTICALS (XENE) stocks. They significantly reduced their stock positions in BUTTERFLY NETWORK INC (BFLY), ANAPTYS BIO INC (ANAB) and SENSEONICS HOLDINGS INC (SENS). First Light Asset Management, LLC opened new stock positions in AMYLYX PHARMACEUTICALS INC (AMLX), PALVELLA THERAPEUTICS INC and MERUS NV (MRUS). The fund showed a lot of confidence in some stocks as they added substantially to 908 DEVICES INC (MASS), GUARDANT HEALTH (GH) and SIMULATIONS PLUS INC (SLP).

First Light Asset Management, LLC Annual Return Estimates Vs S&P 500

Our best estimate is that First Light Asset Management, LLC made a return of 15.63% in the last quarter. In trailing 12 months, it's portfolio return was -2.25%.

New Buys

Ticker	$ Bought
amylyx pharmaceuticals inc	45,606,400
palvella therapeutics inc	33,949,400
lenz therapeutics inc	32,282,000
merus nv	21,097,100
rhythm pharmaceuticals inc	18,227,100
disc medicine inc	15,276,800
abivax sa-adr	8,146,580
madrigal pharmaceuticals inc	5,292,480

New stocks bought by First Light Asset Management, LLC

Additions

Ticker	% Inc.
908 devices inc	135
guardant health	117
simulations plus inc	114
mimedx group inc	89.52
cidara therapeutics inc	62.03
structure therapeutics inc	61.46
neogenomics inc	45.00
axogen inc	28.18

Additions to existing portfolio by First Light Asset Management, LLC

Reductions

Ticker	% Reduced
butterfly network inc	-79.36
anaptys bio inc	-72.03
senseonics holdings inc	-49.57
ultragenyx pharmaceutical inc	-47.86
alignment healthcare inc	-47.05
radnet inc	-38.45
evolent health inc	-26.17
edgewise therapeutics inc	-17.45

First Light Asset Management, LLC reduced stake in above stock

Sold off

Ticker	$ Sold
eledon pharmaceuticals inc	-7,047,350
evolus inc	-4,795,010
xenon pharmaceuticals	-5,895,890
janux therapeutics inc	-3,455,670
insmed inc	-6,330,360
lantheus holdings inc	-2,459,480

First Light Asset Management, LLC got rid off the above stocks

Sector Distribution

First Light Asset Management, LLC has about 81.1% of it's holdings in Healthcare sector.

Sector	%
Healthcare	81.1
Others	10.4
Industrials	8.5

Market Cap. Distribution

First Light Asset Management, LLC has about 0% of it's portfolio invested in the large-cap and mega-cap stocks.

Category	%
SMALL-CAP	40.8
MID-CAP	27.4
MICRO-CAP	21.5
UNALLOCATED	10.4

Stocks belong to which Index?

About 71.7% of the stocks held by First Light Asset Management, LLC either belong to S&P 500 or RUSSELL 2000 index.

Index	%
RUSSELL 2000	71.7
Others	28.3

Top 5 Winners (%)		%
PFMT	performant healthcare inc	88.1 %
CNTA	centessa pharmaceuticals limited	78.1 %
CDTX	cidara therapeutics inc	65.9 %
AXGN	axogen inc	53.5 %
CRNX	crinetics pharmaceuticals inc	42.2 %

Top 5 Winners ($)		$
PFMT	performant healthcare inc	46.4 M
CNTA	centessa pharmaceuticals limited	44.0 M
AXGN	axogen inc	36.1 M
ANAB	anaptys bio inc	19.1 M
CRNX	crinetics pharmaceuticals inc	11.6 M

Top 5 Losers (%)		%
HCAT	health catalyst inc	-23.6 %
EVH	evolent health inc	-21.6 %
TWST	twist bioscience corporation	-21.6 %
SIBN	si-bone inc	-21.0 %
ADMA	adma biologics inc	-18.6 %

Top 5 Losers ($)		$
HCAT	health catalyst inc	-11.8 M
TWST	twist bioscience corporation	-9.3 M
SIBN	si-bone inc	-7.5 M
ADMA	adma biologics inc	-3.6 M
RARE	ultragenyx pharmaceutical inc	-2.6 M

First Light Asset Management, LLC Holdings Map

This heatmap illustrates the top 50 positions within the fund's portfolio.

Current Stock Holdings of First Light Asset Management, LLC

First Light Asset Management, LLC has 41 stocks in it's portfolio. About 54.9% of the portfolio is in top 10 stocks. HCAT proved to be the most loss making stock for the portfolio. PFMT was the most profitable stock for First Light Asset Management, LLC last quarter.

Last Reported on: 14 Nov, 2025

Ticker	Namesorted ascending	% Portfolio	Shares Held	$ Value	Type	% Change
ADMA	adma biologics inc	1.48	1,069,230	15,675,000	added	12.3

ALHC	alignment healthcare inc	0.33	203,138	3,544,760	reduced	-47.05

AMLX	amylyx pharmaceuticals inc	4.30	3,355,880	45,606,400	new

ANAB	anaptys bio inc	2.86	990,161	30,318,700	reduced	-72.03

ATRC	atricure inc	2.96	890,362	31,385,300	reduced	-12.29

AXGN	axogen inc	9.76	5,805,730	103,574,000	added	28.18

BFLY	butterfly network inc	0.20	1,128,000	2,177,040	reduced	-79.36

CDTX	cidara therapeutics inc	2.64	292,657	28,024,800	added	62.03

CNTA	centessa pharmaceuticals limited	8.31	3,635,820	88,168,500	reduced	-15.32

CRNX	crinetics pharmaceuticals inc	3.70	941,516	39,214,100	added	8.95

ELDN	eledon pharmaceuticals inc	0.00	0.00	0.00	sold off	-100

EOLS	evolus inc	0.00	0.00	0.00	sold off	-100

ESTA	establishment labs holdings	1.62	418,358	17,148,500	added	0.29

EVH	evolent health inc	0.44	545,282	4,613,090	reduced	-26.17

EWTX	edgewise therapeutics inc	2.16	1,414,990	22,951,200	reduced	-17.45

GH	guardant health	1.65	280,001	17,494,500	added	117

HCAT	health catalyst inc	3.61	13,436,200	38,293,200	added	9.86

INSM	insmed inc	0.00	0.00	0.00	sold off	-100

IRTC	irhythm technologies	2.52	155,099	26,675,500	reduced	-17.22

JANX	janux therapeutics inc	0.00	0.00	0.00	sold off	-100