First Light Asset Management 13F annual report
First Light Asset Management is an investment fund managing more than $988 million ran by Kurt Peterson. There are currently 71 companies in Mr. Peterson’s portfolio. The largest investments include Prothena plc and Model N Inc, together worth $183 million.
$988 million Assets Under Management (AUM)
As of 7th November 2022, First Light Asset Management’s top holding is 1,538,678 shares of Prothena plc currently worth over $93.3 million and making up 9.4% of the portfolio value.
Relative to the number of outstanding shares of Prothena plc, First Light Asset Management owns more than approximately 0.1% of the company.
In addition, the fund holds 2,608,221 shares of Model N Inc worth $89.3 million, whose value fell approximately 0.1% in the past six months.
The third-largest holding is Atricure Inc worth $58.4 million and the next is SeaSpine Corp worth $40.1 million, with 7,067,572 shares owned.
Currently, First Light Asset Management's portfolio is worth at least $988 million. The total portfolio value may be much higher due to cash
assets that are not publicly disclosed such as fixed income, real estate, or cash equivalents.
Careers at First Light Asset Management
The First Light Asset Management office and employees reside in Edina, Minnesota. According to the last 13-F report filed with the SEC, Kurt Peterson serves as the Chief Compliance Officer at First Light Asset Management.
Recent trades
In the most recent 13F filing, First Light Asset Management revealed that it had opened a new position in
Reata Pharmaceuticals Inc and bought 1,054,985 shares worth $26.5 million.
This means they effectively own approximately 0.1% of the company.
Reata Pharmaceuticals Inc makes up
3.2%
of the fund's Health Care sector allocation and has decreased its share price by approximately 0.1% in the past year.
The investment fund also strengthened its position in Atricure Inc by buying
129,843 additional shares.
This makes their stake in Atricure Inc total 1,494,655 shares worth $58.4 million.
Atricure Inc dropped approximately 0.1% in the past year.
On the other hand, there are companies that First Light Asset Management is getting rid of from its portfolio.
First Light Asset Management closed its position in Intersect ENT Inc on 14th November 2022.
It sold the previously owned 699,235 shares for $19.6 million.
Kurt Peterson also disclosed a decreased stake in Prothena plc by 0.2%.
This leaves the value of the investment at $93.3 million and 1,538,678 shares.
One of the average hedge funds
The two most similar investment funds to First Light Asset Management are Wilmington Funds Management Corp and Harvard Management Co Inc. They manage $988 million and $989 million respectively.
Kurt Peterson investment strategy
First Light Asset Management’s portfolio is diversified across 5 sectors.
Currently, their heaviest sector is Health Care — making up 83.7% of
the total portfolio value.
The fund focuses on investments in the United States as
76.1% of the portfolio companies
are based in the United States.
The majority of the companies in the fund’s portfolio are large-cap stocks.
Stocks with a size of more than $10 billion in market cap make up
24% of the total holdings value.
On the other hand, small-cap stocks make up only 1.4% of the portfolio.
The average market cap of the portfolio companies is close to $32 billion.
The complete list of First Light Asset Management trades based on 13F SEC filings
These positions were updated on November 14th based on the fund’s latest 13F filing. Quickly find out what the most recently closed or increased positions are.
| Security | Shares Owned | Value | Allocation |
|---|---|---|---|
| Prothena Corporation plc |
16.31%
1,538,678
|
$93,290,000 | 9.44% |
| Model N Inc |
3.65%
2,608,221
|
$89,279,000 | 9.04% |
| Atricure Inc |
9.51%
1,494,655
|
$58,441,000 | 5.91% |
| SeaSpine Holdings Corp |
0.88%
7,067,572
|
$40,144,000 | 4.06% |
| Karuna Therapeutics Inc |
42.31%
166,316
|
$37,409,000 | 3.79% |
| Halozyme Therapeutics Inc. |
41.64%
932,244
|
$36,861,000 | 3.73% |
| SI-BONE Inc |
86.97%
2,027,963
|
$35,408,000 | 3.58% |
| Cutera Inc |
1.43%
763,180
|
$34,801,000 | 3.52% |
| Axogen Inc. |
20.16%
2,911,824
|
$34,709,000 | 3.51% |
| Krystal Biotech Inc |
31.39%
492,555
|
$34,331,000 | 3.47% |
| Omnicell, Inc. |
8.50%
349,106
|
$30,383,000 | 3.07% |
| Reata Pharmaceuticals Inc |
Opened
1,054,985
|
$26,512,000 | 2.68% |
| Crinetics Pharmaceuticals Inc |
131.08%
1,346,652
|
$26,448,000 | 2.68% |
| Alphatec Holdings Inc |
9.44%
2,974,658
|
$25,999,000 | 2.63% |
| Bellus Health Inc |
4.39%
2,381,857
|
$25,152,000 | 2.55% |
| Neogenomics Inc. |
237.50%
2,720,099
|
$23,420,000 | 2.37% |
| Tandem Diabetes Care Inc |
11.56%
485,620
|
$23,237,000 | 2.35% |
| Keros Therapeutics, Inc. |
9.11%
598,213
|
$22,505,000 | 2.28% |
| Axonics Modulation Technologies |
13.34%
316,809
|
$22,316,000 | 2.26% |
| Paragon 28, Inc. |
10.68%
1,238,055
|
$22,062,000 | 2.23% |
| Pliant Therapeutics, Inc. |
134.63%
965,114
|
$20,161,000 | 2.04% |
| Intersect ENT Inc |
Closed
699,235
|
$19,586,000 | |
| Ultragenyx Pharmaceutical Inc. |
3.72%
453,794
|
$18,792,000 | 1.90% |
| Codexis Inc. |
Closed
830,002
|
$17,115,000 | |
| Bicycle Therapeutics plc |
20.83%
704,721
|
$16,392,000 | 1.66% |
| Insmed Inc |
2.52%
756,417
|
$16,293,000 | 1.65% |
| OrthoPediatrics corp |
22.47%
308,728
|
$14,245,000 | 1.44% |
| KORU Medical Systems Inc |
2.85%
6,273,773
|
$13,991,000 | 1.42% |
| Sutro Biopharma Inc |
Closed
1,672,497
|
$13,748,000 | |
| Ngm Biopharmaceuticals Inc |
17.00%
955,505
|
$12,498,000 | 1.26% |
| Health Catalyst Inc |
33.90%
1,149,833
|
$11,153,000 | 1.13% |
| Mirum Pharmaceuticals Inc |
143.15%
522,864
|
$10,985,000 | 1.11% |
| Biomarin Pharmaceutical Inc. |
32.49%
123,322
|
$10,454,000 | 1.06% |
| Bioventus Inc |
55.17%
1,398,922
|
$9,792,000 | 0.99% |
| Caredx Inc |
23.86%
549,797
|
$9,358,000 | 0.95% |
| Performant Financial Corp |
0.55%
5,020,107
|
$9,287,000 | 0.94% |
| Maxcyte Inc |
3.11%
1,362,543
|
$8,857,000 | 0.90% |
| Pfizer Inc. |
0.06%
147,151
|
$6,439,000 | 0.65% |
| Akumin Inc |
1.45%
3,764,264
|
$6,437,000 | 0.65% |
| TransMedics Group, Inc. |
Opened
153,769
|
$6,418,000 | 0.65% |
| Direxion Daily S&p Biotech Bull 3x Shares |
Opened
857,815
|
$6,013,000 | 0.61% |
| Abcam PLC |
71.70%
383,557
|
$5,750,000 | 0.58% |
| Turning Point Therapeutics Inc |
Closed
208,630
|
$5,602,000 | |
| OptimizeRx Corp |
10.13%
364,036
|
$5,395,000 | 0.55% |
| Genmab As |
0.11%
161,727
|
$5,196,000 | 0.53% |
| Castle Biosciences, Inc. |
Opened
163,224
|
$4,257,000 | 0.43% |
| Sientra Inc |
Closed
1,789,359
|
$3,972,000 | |
| Mirati Therapeutics Inc |
Closed
45,205
|
$3,717,000 | |
| Inari Medical, Inc. |
0.15%
45,313
|
$3,292,000 | 0.33% |
| MEI Pharma Inc |
Closed
4,525,034
|
$2,726,000 | |
| LHC Group Inc |
Closed
15,500
|
$2,613,000 | |
| Miromatrix Medical Inc |
0.72%
516,007
|
$2,260,000 | 0.23% |
| Joint Corp |
Closed
56,498
|
$1,999,000 | |
| Simulations Plus Inc. |
52.83%
36,061
|
$1,750,000 | 0.18% |
| Elevance Health Inc |
No change
1,244
|
$565,000 | 0.06% |
| GSK Plc |
Closed
12,574
|
$548,000 | |
| Cigna Corp. |
No change
1,943
|
$539,000 | 0.05% |
| CVS Health Corp |
No change
5,519
|
$526,000 | 0.05% |
| Humana Inc. |
No change
1,068
|
$518,000 | 0.05% |
| United Therapeutics Corp |
No change
2,466
|
$516,000 | 0.05% |
| Bristol-Myers Squibb Co. |
No change
7,256
|
$516,000 | 0.05% |
| Abbvie Inc |
No change
3,740
|
$502,000 | 0.05% |
| Mckesson Corporation |
No change
1,346
|
$457,000 | 0.05% |
| Becton, Dickinson And Co. |
No change
1,888
|
$421,000 | 0.04% |
| Waters Corp. |
No change
1,536
|
$414,000 | 0.04% |
| Gilead Sciences, Inc. |
No change
6,705
|
$414,000 | 0.04% |
| Envista Holdings Corp |
No change
11,793
|
$387,000 | 0.04% |
| Hologic, Inc. |
No change
5,845
|
$377,000 | 0.04% |
| Integer Holdings Corp |
No change
5,846
|
$364,000 | 0.04% |
| Johnson & Johnson |
No change
2,161
|
$353,000 | 0.04% |
| Perrigo Company |
No change
9,823
|
$350,000 | 0.04% |
| Nuvasive Inc |
No change
7,850
|
$344,000 | 0.03% |
| Takeda Pharmaceutical Co |
No change
25,630
|
$332,000 | 0.03% |
| Baxter International Inc. |
No change
5,929
|
$319,000 | 0.03% |
| ICU Medical, Inc. |
No change
2,039
|
$307,000 | 0.03% |
| Universal Health Services, Inc. |
Closed
2,050
|
$297,000 | |
| Glaxosmithkline Plc |
Opened
10,058
|
$296,000 | 0.03% |
| Avantor, Inc. |
No change
14,596
|
$286,000 | 0.03% |
| Syneos Health Inc |
No change
5,736
|
$270,000 | 0.03% |
| Sanofi-synthelabo |
No change
6,650
|
$253,000 | 0.03% |
| Sonendo, Inc. |
Opened
223,393
|
$239,000 | 0.02% |
| Haleon Plc |
Opened
12,574
|
$77,000 | 0.01% |
| No transactions found | |||
| Showing first 500 out of 82 holdings | |||
Hedge funds similar to First Light Asset Management
- Technology Crossover Management Ix
- Parcion Private Wealth
- Sarissa Capital Management L.P.
- Portolan Capital Management
- Formation8 Gp
- Chicago Equity Partners
- Harvard Management Co Inc
- Wilmington Funds Management Corp
- M Securities
- Franklin Street Advisors Inc nc
- John F. Brennan, Jr
- Globalt
- Nachman Norwood & Parrott, Inc
- Knights Of Columbus Asset Advisors