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FIRST LIGHT ASSET MANAGEMENT, LLC

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EDINA MN Investment Advisor Hedge Fund
13F Summary

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85

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First Light Asset Management is based out of Edina. First Light Asset Management is a hedge fund with 1165 clients and discretionary assets under management (AUM) of $1,387,863,426 (Form ADV from 2024-12-03). Their last reported 13F filing for Q4 2024 included $1,045,162,147 in managed 13F securities and a top 10 holdings concentration of 60.57%. First Light Asset Management's largest holding is Paragon 28 Inc with shares held of 10,580,467. Whalewisdom has at least 45 13F filings, 2 13D filings, 97 13G filings, and 3 Form 4 filings
Business Description
First Light Asset Management, LLC ("First Light") is a Delaware limited liability company formed in September 2013. Mathew P. Arens, First Light’s Managing Member, Chief Executive Officer and Senior Portfolio Manager, is its principal owner. First Light provides advisory services using the Genesis Strategy to many Separate Account Clients pursuant to dual contract programs sponsored by unaffiliated broker-dealers/investment advisers. In these programs, the client executes two agreements: one with the program sponsor for custodial and brokerage services, and another with First Light for investment advisory services. The investment advisory agreement discloses the strategy’s investment mandate and grants First Light discretionary investment authority.
Investment Strategy
First Light employs the Genesis Strategy, which focuses on investing in publicly traded health care equities. This strategy utilizes a fundamental, bottom-up approach to stock selection, seeking high-quality, compelling investment opportunities in companies growing faster than the U.S. economy. The Genesis Strategy typically invests in equities that are weighted in the portfolio based on First Light’s level of conviction. First Light also provides advisory services using the Genesis Strategy to Separate Account Clients through dual contract programs. In these programs, clients have one contract with the program sponsor for custodial and brokerage services and another agreement with First Light, granting First Light discretionary investment authority to implement the Genesis Strategy.
Owners
  • MATHEW ARENS 2021 IRREVOCABLE TRUST - MEMBER
  • JOHNSON, BRETT, THOMAS - SENIOR RESEARCH ANALYST & FOUNDING PRINCIPAL
  • ARENS, MATHEW, PAUL - MANAGING MEMBER, CEO, & SENIOR PORTFOLIO MANAGER
  • PETERSON, KURT, TERRY - CHIEF FINANCIAL OFFICER & CHIEF COMPLIANCE OFFICER
  • Click on the Ownership/Private Fund Data tab for more details.
Known Email Addresses
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Other Contact Information
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2024-12-31

Top Buys (13F)

2024-12-31

Top Sells (13F)

2024-12-31

13F Holdings Summary

Name $ Change
FNA Paragon 28 Inc 10.46%
CNTA Centessa Pharmaceuti 9.3%
AXGN Axogen Inc 7.11%
ATRC AtriCure Inc 5.76%
TWST Twist Bioscience Cor 5.45%

2024-12-31

13F Activity

Market Value $1.05b, Prior: $1.20b
Inflows (Outflows) as % of Total MV (-6.8076)%
New Purchases 9 stocks
Added To 9 stocks
Sold out of 11 stocks
Reduced holdings in 18 stocks
Top 10 Holdings % 60.57%
Turnover %[1] 42.55%
Turnover Alt %[2] 22.91%
Time Held Top 20 5.15 quarters
Time Held Top 10 2.2 quarters
Time Held All 9.78 quarters

[1]: Turnover is calculated by taking the # of new holdings (initial purchases) + the # of positions sold out of (not just reduced) divided by the total # of holdings for the quarter.

[2]: Alt Turnover is calculated by taking either the total MV of new purchases or the MV of securities sold, whichever is less, divided by the total MV of the fund.

2024-12-31

13F Sector Allocation Over Time

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2024-12-31

Analysis

Top 20 equal-weighted holdings. Performance numbers calculated through 2024-12-31

Portfolio Performance