SEC 13F Intelligence

Managers / Q1 2026

FirstWave Capital Management LLC

CIK 0002093108 · 80 SW 8TH STREET, SUITE 2100, MIAMI, FL, 33130 · 786-348-2330

Reported Value
$94M
Q1 2026
Positions
27
Filings on Record
2
2019–present window
Filed
May 12, 2026
original filing

Summary

Firstwave Capital Management LLC reported $94M in U.S.-listed holdings across 27 positions for Q1 2026.

Its largest position, TMDX, represents 13.1% of the portfolio.

Compared with Q4 2025, the fund opened 6 new positions and exited 52.

Portfolio Metrics

Turnover
+14.9%
vs prior filed quarter
Top-10 Concentration
+70.0%
share of reported value
Largest Position
+13.1%
Transmedics
New / Exited
6 / 52
positions this quarter

Methodology: turnover is min(value bought, value sold) ÷ average reported value across the two quarters — value-based, so market moves inflate it slightly versus a share-based measure. Concentration and largest position are shares of the filing’s total reported value, options excluded, with multiple share classes and repeated sub-manager rows for the same issuer combined into one position — the same rule the holdings table uses by default. New/exited counts compare against the prior filed quarter. All figures derive solely from the fund’s 13F filings.

Reported Value by Quarter

13F Reported Value
Q4 ’25: $168MQ4 ’25Q1 ’26: $94MQ1 ’26filingsflow.com

Portfolio Composition

By security type
Common Stock: 96.3%ADR: 3.3%ETP: 0.4%
  • Common Stock · 96.3% · $91M
  • ADR · 3.3% · $3M
  • ETP · 0.4% · $362,000

Quarter-over-Quarter Changes full breakdown →

vs Q4 2025 (amended baseline)

IssuerMoveShare ΔShares nowValue ΔValue now
AAOIAPPLIED OPTOELECTRONICS INCNEW+19.5K19.5K+$2M$2M
HOODROBINHOOD MKTS INCNEW+22.6K22.6K+$2M$2M
MUMICRON TECHNOLOGY INCNEW+3.1K3.1K+$1M$1M
SOFISOFI TECHNOLOGIES INCNEW+55.8K55.8K+$886,660$886,660
COHRCOHERENT CORPNEW+3.7K3.7K+$885,665$885,665
SPYSTATE STR SPDR S&P 500 ETF TNEW+400.0K400.0K+$362,000$362,000
APPAPPLOVIN CORPADDED+11.5K19.9K+$2M$8M
MELIMERCADOLIBRE INCADDED+1.4K2.6K+$2M$5M

Value changes conflate price moves with buying and selling — share changes are the real signal. Share counts are not split-adjusted.

Holdings — Q1 2026

26 positions
Export to Excel
#IssuerClass% PortfolioValue ↓Shares
1TMDXTRANSMEDICS GROUP INChistory →COM13.13%$12M124.3K
2NBISNEBIUS GROUP N.V.history →SHS CLASS A9.86%$9M89.4K
3APPAPPLOVIN CORPhistory →COM CL A8.41%$8M19.9K
4RDDTREDDIT INChistory →CL A7.73%$7M54.0K
5HIMSHIMS & HERS HEALTH INChistory →COM CL A5.74%$5M260.2K
6CPNGCOUPANG INChistory →CL A5.63%$5M280.4K
7HROWHARROW INChistory →COM5.39%$5M143.9K
8CRDOCREDO TECHNOLOGY GROUP HOLDIhistory →ORDINARY SHARES4.86%$5M48.7K
9MELIMERCADOLIBRE INChistory →COM4.83%$5M2.6K
10NUNU HLDGS LTDhistory →ORD SHS CL A4.43%$4M289.8K
11IRENIREN LIMITEDhistory →ORDINARY SHARES4.32%$4M118.6K
12SESEA LTDhistory →SPONSORD ADS3.32%$3M37.8K
13ALABASTERA LABS INChistory →COM3.18%$3M27.3K
14MPMP MATERIALS CORPhistory →COM CL A2.55%$2M49.7K
15PRCTPROCEPT BIOROBOTICS CORPhistory →COM2.14%$2M80.3K
16ONONON HLDG AGhistory →NAMEN AKT A2.12%$2M58.7K
17AAOIAPPLIED OPTOELECTRONICS INChistory →COM1.75%$2M19.5K
18HOODROBINHOOD MKTS INChistory →COM CL A1.66%$2M22.6K
19ONDSONDAS INChistory →COM NEW1.53%$1M159.1K
20CELHCELSIUS HLDGS INChistory →COM NEW1.24%$1M32.9K
21MUMICRON TECHNOLOGY INChistory →COM1.11%$1M3.1K
22LITELUMENTUM HLDGS INChistory →COM1.05%$991,5941.4K
23SOFISOFI TECHNOLOGIES INCCOM0.94%$886,66055.8K
24COHRCOHERENT CORPCOM0.94%$885,6653.7K
25CLPTCLEARPOINT NEURO INCCOM0.93%$872,14495.8K
26CRCLCIRCLE INTERNET GROUP INCCOM CL A0.82%$770,4368.1K

Filing History

QuarterReported ValuePositionsFiledTypeLinks
Q1 2026$94M27May 12, 202613F-HRchanges · EDGAR ↗
Q4 2025$168M73Feb 13, 202613F-HRchanges · EDGAR ↗

13F filings are due up to 45 days after quarter end, so holdings shown here lag the fund’s current book. Source: original SEC filing on EDGAR ↗.