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Livermore
Livermore
ZHEN

First Light Asset Management, LLC

SEC CIK
0001600004
Latest filing
Aug 14, 2026

Holdings in Q4 2025

Holdings as of Dec 31, 2025, filed Feb 17, 2026. Long positions only; changes compare share counts with Q3 2025.

Institution overview
Positions
33
−8 vs. Q3 2025
Portfolio value
$1.31B
+$247.2M (+23.3%) vs. Q3 2025
Filed
Feb 17, 2026
SEC
Holdings of First Light Asset Management, LLC in Q4 2025
SecurityClassSharesValue% of portfolioShare changeActionHistory
AXGNAxogen, Inc.COM5,233,326$171.3M13.1%−572,404−9.9%ReducedHistory
NEONeogenomics IncCOM NEW10,035,063$118.0M9.0%+107,794+1.1%AddedHistory
SIBNSI-BONE, Inc.COM5,032,904$99.2M7.6%+3,115,001+162.4%AddedHistory
PVLAPalvella Therapeutics, Inc.COM709,141$74.2M5.7%+167,597+30.9%AddedHistory
CNTACentessa Pharmaceuticals plcSPONSORED ADS2,278,940$57.0M4.4%−1,356,876−37.3%ReducedHistory
CRNXCrinetics Pharmaceuticals, Inc.COM1,194,263$55.6M4.3%+252,747+26.8%AddedHistory
ATRCAtriCure, Inc.COM1,175,445$46.5M3.6%+285,083+32.0%AddedHistory
VERAVera Therapeutics, Inc.CL A869,676$44.0M3.4%+362,579+71.5%AddedHistory
IRONDisc Medicine, Inc.COM523,167$41.5M3.2%+291,981+126.3%AddedHistory
AMLXAmylyx Pharmaceuticals, Inc.COM3,355,539$40.5M3.1%−3430.0%ReducedHistory
EWTXEdgewise Therapeutics, Inc.COM1,573,701$39.1M3.0%+158,707+11.2%AddedHistory
MDGLMadrigal Pharmaceuticals, Inc.COM66,831$38.9M3.0%+55,292+479.2%AddedHistory
TWSTTwist Bioscience CorpCOM1,140,771$36.2M2.8%−54,112−4.5%ReducedHistory
SLPSimulations Plus, Inc.COM1,968,917$35.9M2.7%+1,201,157+156.4%AddedHistory
RYTMRhythm Pharmaceuticals, Inc.COM295,844$31.7M2.4%+115,360+63.9%AddedHistory
WVEWave Life Sciences, Inc.SHS1,853,851$31.5M2.4%+1,853,851NewHistory
ANABAnaptysbio, IncCOM646,238$31.3M2.4%−343,923−34.7%ReducedHistory
HCATHealth Catalyst, Inc.COM12,910,941$30.9M2.4%−525,279−3.9%ReducedHistory
GHGuardant Health, Inc.COM294,751$30.1M2.3%+14,750+5.3%AddedHistory
IRTCiRhythm Holdings, Inc.COM153,871$27.3M2.1%−1,228−0.8%ReducedHistory
ESTAEstablishment Labs Holdings Inc.COM373,082$27.2M2.1%−45,276−10.8%ReducedHistory
MASS908 Devices Inc.COM4,836,186$25.4M1.9%+2,325,690+92.6%AddedHistory
KRMDKORU Medical Systems, Inc.COM4,210,512$24.5M1.9%−317,225−7.0%ReducedHistory
TNDMTandem Diabetes Care IncCOM NEW1,089,493$23.9M1.8%+1,089,493NewHistory
APGEApogee Therapeutics, Inc.COM284,991$21.5M1.6%+284,991NewHistory
NPCENeuroPace IncCOM1,349,482$20.8M1.6%−10,589−0.8%ReducedHistory
MDXGMimedx Group, Inc.COM3,039,341$20.6M1.6%−613,611−16.8%ReducedHistory
ORGOOrganogenesis Holdings Inc.COM3,862,820$20.0M1.5%−3,635,091−48.5%ReducedHistory
SEPNSepterna, Inc.COM620,811$17.3M1.3%+620,811NewHistory
ABVXAbivax S.A.SPONSORED ADS88,674$12.0M0.9%−7,281−7.6%ReducedHistory
BFLYButterfly Network, Inc.COM CL A2,812,131$10.7M0.8%+1,684,133+149.3%AddedHistory
DYNDyne Therapeutics, Inc.COM155,231$3.04M0.2%+155,231NewHistory
iShares Russell 2000 Growth ETF464287648ETF760$245.5K<0.1%+760New–

Sold out since Q3 2025 (14)

Positions held at the end of Q3 2025 that are gone from this filing.

Positions of First Light Asset Management, LLC sold out since Q3 2025
SecurityClassShares in Q3 2025Value in Q3 2025% of portfolio in Q3 2025History
PHLTPerformant Healthcare IncCOM11,718,612$90.6M8.5%History
LENZLENZ Therapeutics, Inc.COM693,044$32.3M3.0%History
CDTXCidara Therapeutics, Inc.COM NEW292,657$28.0M2.6%History
MRUSMerus N.V.COM224,080$21.1M2.0%History
ADMAAdma Biologics, Inc.COM1,069,233$15.7M1.5%History
CAICaris Life Sciences, Inc.COM403,924$11.9M1.1%History
RAREUltragenyx Pharmaceutical Inc.COM285,699$8.59M0.8%History
SENSSenseonics Holdings, Inc.COM18,007,632$7.85M0.7%History
RGENRepligen CorpCOM41,427$5.54M0.5%History
GPCRStructure Therapeutics Inc.SPONSORED ADS197,350$5.53M0.5%History
EVHEvolent Health, Inc.CL A545,282$4.61M0.4%History
ALHCAlignment Healthcare, Inc.COM203,138$3.54M0.3%History
RDNTRadNet, Inc.COM42,280$3.22M0.3%History
TECXTectonic Therapeutic, Inc.COM202,393$3.18M0.3%History