1y return+91.9%S&P 500 +20.9%
3y return+47.1%S&P 500 +68.5%
5y return+16.0%S&P 500 +74.5%
10y return+472.3%S&P 500 +256.5%
These returns are for its stock picks as disclosed on Form 13F: last quarter's holdings, valued at this quarter's prices. They miss trades within each quarter, short positions, options, bonds, cash and fees, so they aren't the returns its clients got.
$100 invested in its stock picks
Since June 30, 2016: $572 against $357 in the S&P 500.2
First Light Asset Management, LLCS&P 500 (SPY)
Top holdings
At the end of June 30, 2026. Change is in shares since the quarter before.2
| Stock | Value | Share of portfolio | Change |
|---|---|---|---|
| NEONeogenomics Inc | $179.2M | 10.9% | +26.2% |
| SIBNSi-bone Inc | $132.6M | 8.1% | +51.8% |
| AXGNAxogen Inc | $126.9M | 7.7% | −31.3% |
| Apogee Therapeutics IncCUSIP 03770N101 | $123.5M | 7.5% | +61.3% |
| PVLAPalvella Therapeutics Inc | $118.0M | 7.2% | −21.3% |
| TWSTTwist Bioscience Corporation | $74.9M | 4.6% | −17.2% |
| ELVNEnliven Therapeutics Inc | $69.1M | 4.2% | +574.1% |
| GHGuardant Health | $66.3M | 4.0% | +57.5% |
| MASS908 Devices Inc | $54.7M | 3.3% | +3.5% |
| AMLXAmylyx Pharmaceuticals Inc | $54.3M | 3.3% | −5.2% |
| WGSGenedx Holdings Corp | $53.8M | 3.3% | +222.7% |
| Simulations Plus IncCUSIP 829214105 | $51.1M | 3.1% | +6.1% |
| TNDMTandem Diabetes Care Inc | $51.1M | 3.1% | +157.4% |
| Crinetics Pharmaceuticals IncCUSIP 22663K107 | $50.9M | 3.1% | +24.9% |
| NPCENeuropace Inc | $45.5M | 2.8% | +16.3% |
| EWTXEdgewise Therapeutics Inc | $44.5M | 2.7% | +9.3% |
| ANABAnaptys Bio Inc | $39.3M | 2.4% | +2.9% |
| TRVITrevi Therapeutics Inc | $39.1M | 2.4% | New |
| SEPNSepterna Inc | $32.3M | 2.0% | +31.4% |
| TLSITrisalus Life Sciences Inc | $29.8M | 1.8% | +29.3% |
| TECXTectonic Therapeutics Inc | $27.5M | 1.7% | +23.6% |
| HCATHealth Catalyst Inc | $25.5M | 1.5% | |
| BFLYButterfly Network Inc | $22.2M | 1.4% | |
| Establishment Labs HoldingsCUSIP G31249108 | $21.2M | 1.3% | −19.9% |
| PCVXVaxcyte Inc | $20.1M | 1.2% | +143.4% |
Best picks still held
How each current holding has done since the quarter it first appeared in its filings (up to six years back).
| Stock | Held since | Return since | Now worth |
|---|---|---|---|
| GHGuardant Health | December 31, 2022 | +451.6% | $66.3M |
| AXGNAxogen Inc | September 30, 2020 | +297.2% | $126.9M |
| ANABAnaptys Bio Inc | June 30, 2023 | +231.9% | $39.3M |
| BFLYButterfly Network Inc | December 31, 2024 | +169.9% | $22.2M |
| PVLAPalvella Therapeutics Inc | September 30, 2025 | +143.8% | $118.0M |
| TWSTTwist Bioscience Corporation | December 31, 2024 | +121.4% | $74.9M |
| Establishment Labs HoldingsCUSIP G31249108 | March 31, 2025 | +110.3% | $21.2M |
| MASS908 Devices Inc | March 31, 2025 | +94.2% | $54.7M |
| Apogee Therapeutics IncCUSIP 03770N101 | December 31, 2025 | +75.8% | $123.5M |
| EWTXEdgewise Therapeutics Inc | December 31, 2024 | +52.2% | $44.5M |
Sold off last quarter
- Centessa Pharmaceuticals LimitedCUSIP 152309100 was $62.0M
- Wave Life Sciences LtdCUSIP Y95308105 was $13.4M
- VERAVera Therapeutics Inc was $12.6M
- MDXGMimedx Group Inc was $11.2M
- SGPSpyglass Pharma Inc was $9.7M
- ORGOOrganogenesis Holdings Inc was $8.3M
Quarter by quarter
| Quarter | Its picks | S&P 500 |
|---|---|---|
| June 30, 2026 | +35.5% | +14.8% |
| March 31, 2026 | −10.3% | −4.6% |
| December 31, 2025 | +29.2% | +2.4% |
| September 30, 2025 | +22.3% | +7.8% |
| June 30, 2025 | −2.8% | +10.5% |
| March 31, 2025 | −9.9% | −4.6% |
| December 31, 2024 | −7.3% | +2.1% |
| September 30, 2024 | +14.0% | +5.4% |
| June 30, 2024 | −6.1% | +4.0% |
| March 31, 2024 | +1.1% | +10.0% |
| December 31, 2023 | +10.5% | +11.2% |
| September 30, 2023 | −21.0% | −3.6% |
| June 30, 2023 | +10.0% | +8.3% |
| March 31, 2023 | +6.0% | +7.0% |
| December 31, 2022 | +6.5% | +7.1% |
| September 30, 2022 | +15.7% | −5.3% |
| June 30, 2022 | −25.1% | −16.5% |
| March 31, 2022 | −13.9% | −4.9% |
| December 31, 2021 | −9.0% | +10.7% |
| September 30, 2021 | −6.4% | +0.3% |
Sources
Every number on this page points here. Each one links to the public record.
- 1SEC EDGAR: First Light Asset Management, LLC Form 13F filingshttps://www.sec.gov/cgi-bin/browse-edgar?action=getcompany&CIK=1600004&type=13F-HR&dateb=&owner=include&count=40CIK 1600004
- 2SEC: 13F for the quarter ended June 30, 2026https://www.sec.gov/Archives/edgar/data/1600004/000199937126018014/Filed August 14, 2026 · accession 0001999371-26-018014