Q4 2025 · 13F-HR
First Light Asset Management, LLCholdings as filed
Filed 2026-02-17 · accession 0001999371-26-003511
$1.31B
Reported value
33
Positions
2025-12-31
Period end
The Brief · First Light Asset Management, LLC · Q4 2025
AI · grounded in 13F
First Light Asset Management, LLC closed its position in PFMTUSD for a reduction of $90.58M. The fund also exited positions in LENZ and CDTX, totaling losses of $32.28M and $28.02M respectively. Offsetting these sells, the manager established a new position in WVE worth $31.52M and increased its stake in MDGL by 479.18%.
Holdings as filed
| CUSIP | Ticker | Issuer | Value | % port. | Shares | Class | Voting |
|---|---|---|---|---|---|---|---|
| 05463X106 | AXGN | AXOGEN INC | $171.3M | 13.1% | 5,233,326 | Common | SOLE |
| 64049M209 | NEO | NEOGENOMICS INC | $118.0M | 9.02% | 10,035,063 | Common | SOLE |
| 825704109 | SIBN | SI-BONE INC | $99.2M | 7.59% | 5,032,904 | Common | SOLE |
| 697947109 | PVLA | PALVELLA THERAPEUTICS INC | $74.2M | 5.67% | 709,141 | Common | SOLE |
| 152309100 | CNTA | CENTESSA PHARMACEUTICALS LIMITED | $57.0M | 4.36% | 2,278,940 | Common | SOLE |
| 22663K107 | CRNX | CRINETICS PHARMACEUTICALS INC | $55.6M | 4.25% | 1,194,263 | Common | SOLE |
| 04963C209 | ATRC | ATRICURE INC | $46.5M | 3.56% | 1,175,445 | Common | SOLE |
| 92337R101 | VERA | VERA THERAPEUTICS INC | $44.0M | 3.37% | 869,676 | Common | SOLE |
| 254604101 | IRON | DISC MEDICINE INC | $41.5M | 3.18% | 523,167 | Common | SOLE |
| 03237H101 | AMLX | AMYLYX PHARMACEUTICALS INC | $40.5M | 3.10% | 3,355,539 | Common | SOLE |
| 28036F105 | EWTX | EDGEWISE THERAPEUTICS INC | $39.1M | 2.99% | 1,573,701 | Common | SOLE |
| 558868105 | MDGL | MADRIGAL PHARMACEUTICALS INC | $38.9M | 2.98% | 66,831 | Common | SOLE |
| 90184D100 | TWST | TWIST BIOSCIENCE CORPORATION | $36.2M | 2.77% | 1,140,771 | Common | SOLE |
| 829214105 | SLP | SIMULATIONS PLUS INC | $35.9M | 2.74% | 1,968,917 | Common | SOLE |
| 76243J105 | RYTM | RHYTHM PHARMACEUTICALS INC | $31.7M | 2.42% | 295,844 | Common | SOLE |
| Y95308105 | WVE | WAVE LIFE SCIENCES LTD | $31.5M | 2.41% | 1,853,851 | Common | SOLE |
| 032724106 | ANAB | ANAPTYS BIO INC | $31.3M | 2.40% | 646,238 | Common | SOLE |
| 42225T107 | HCAT | HEALTH CATALYST INC | $30.9M | 2.36% | 12,910,941 | Common | SOLE |
| 40131M109 | GH | GUARDANT HEALTH | $30.1M | 2.30% | 294,751 | Common | SOLE |
| 450056106 | IRTC | IRHYTHM TECHNOLOGIES | $27.3M | 2.09% | 153,871 | Common | SOLE |
| G31249108 | ESTA | ESTABLISHMENT LABS HOLDINGS | $27.2M | 2.08% | 373,082 | Common | SOLE |
| 65443P102 | MASS | 908 DEVICES INC | $25.4M | 1.94% | 4,836,186 | Common | SOLE |
| 759910102 | KRMD | KORU MEDICAL SYSTEMS INC | $24.5M | 1.87% | 4,210,512 | Common | SOLE |
| 875372203 | TNDM | TANDEM DIABETES CARE INC | $23.9M | 1.83% | 1,089,493 | Common | SOLE |
| 03770N101 | APGE | APOGEE THERAPEUTICS INC | $21.5M | 1.64% | 284,991 | Common | SOLE |
| 641288105 | NPCE | NEUROPACE INC | $20.8M | 1.59% | 1,349,482 | Common | SOLE |
| 602496101 | MDXG | MIMEDX GROUP INC | $20.6M | 1.57% | 3,039,341 | Common | SOLE |
| 68621F102 | ORGO | ORGANOGENESIS HOLDINGS INC | $20.0M | 1.53% | 3,862,820 | Common | SOLE |
| 81734D104 | SEPN | SEPTERNA INC | $17.3M | 1.32% | 620,811 | Common | SOLE |
| 00370M103 | ABVX | ABIVAX SA-ADR | $12.0M | 0.91% | 88,674 | Common | SOLE |
| 124155102 | BFLY | BUTTERFLY NETWORK INC | $10.7M | 0.82% | 2,812,131 | Common | SOLE |
| 26818M108 | DYN | DYNE THERAPEUTICS INC | $3.0M | 0.23% | 155,231 | Common | SOLE |
| 464287648 | IWO | ISHARES RUSSELL 2000 GROWTH ETF | $245,488 | 0.02% | 760 | Common | SOLE |
Source: SEC EDGAR · raw 13F holdings as filed. The Class column shows the option type when reported (Put/Call) or Common when the issuer's equity is held directly. 13F discloses long positions only.