AWM Investment Company, Inc.

In its 13F for Q2 2025 (holdings as of June 30, 2025, filed August 14, 2025), AWM Investment Company, Inc. reported 92 stock positions worth $891.5 million. Its top holding was American Superconductor (AMSC) at 6.4% of the portfolio, followed by Blacksky Technology (BKSY, 5.1%) and Adma Biologics (ADMA, 4.5%). Compared with Q1 2025, it opened 11 new positions, sold out of 12, added to 20 and reduced 28. The biggest buy was Nlight (LASR, shares +2%) and the biggest sale Adma Biologics (ADMA, shares −9%).

Most Recent 13F
Q2 2026
Location
NEW YORK, NY
CIK
0001535264
Portfolio Value
$891.5M (Q2 2025)
SEC Filing
0001535264-25-000052 ↗ filed Aug 14, 2025

Holdings Value

0$500.0M$1.0B$1.5B Q1 2024: $763.5M Q1 2024 Q2 2024: $740.2M Q2 2024 Q3 2024: $825.3M Q3 2024 Q4 2024: $820.5M Q4 2024 Q1 2025: $725.8M Q1 2025 Q2 2025: $891.5M $891.5M Q2 2025 Q3 2025: $1.1B Q3 2025 Q4 2025: $1.0B Q4 2025 Q1 2026: $903.4M Q1 2026 Q2 2026: $1.2B Q2 2026

Holdings 92 stocks · $891.5M
AMSC American Superconductor Corp. 6.41% 1,558,478 $57.2M No change
BKSY Blacksky Technology Inc. 5.10% 2,209,926 $45.5M Reduce -7.5%
ADMA Adma Biologics Inc. 4.49% 2,200,000 $40.1M Reduce -9.3%
MASS 908 Devices Inc. 4.16% 5,199,924 $37.1M No change
AVAV Aerovironment Inc. 3.64% 113,893 $32.5M Reduce -12.3%
ASPI Asp Isotopes Inc. 3.25% 3,931,186 $28.9M Reduce -12.9%
LASR Nlight Inc. 2.97% 1,344,917 $26.5M Add +1.9%
AEHR Aehr Test Systems 2.28% 1,573,824 $20.3M Reduce -0.9%
AIOT Powerfleet Inc. 2.23% 4,602,940 $19.8M No change
PI Impinj Inc. 2.22% 178,173 $19.8M Reduce -18.3%
GRSD Grandstand Ltd. filed as GAMBLING COM GROUP LIMITED 1.99% 1,494,915 $17.8M Add +0.3%
NGS Natural Gas Services Group 1.96% 676,652 $17.5M No change
GILT Gilat Satellite Networks Ltd. 1.91% 2,398,088 $17.0M No change
BLZE Backblaze Inc. Class A 1.89% 3,064,526 $16.9M Add +0.7%
SNWV Sanuwave Health Inc. 1.80% 489,550 $16.1M Reduce -4.6%
VICR Vicor Corp. 1.70% 333,210 $15.1M Reduce -10.5%
KOPN Kopin Corp. 1.69% 9,863,887 $15.1M Add +1.5%
RCAT Red Cat Holdings Inc. 1.66% 2,037,616 $14.8M Add +15.3%
CEVA Ceva Inc. 1.64% 667,162 $14.7M Add +8.4%
UTI Universal Technical Institut 1.61% 422,700 $14.3M Reduce -18.4%
RDCM Radcom Ltd. 1.51% 991,261 $13.5M No change
MRAM Everspin Technologies Inc. 1.50% 2,126,241 $13.4M No change
LOVE The Lovesac Co. 1.49% 730,960 $13.3M Add +7.2%
ARLO Arlo Technologies Inc. 1.32% 694,576 $11.8M Add +6.1%
MDXH Mdxhealth 1.29% 5,221,282 $11.5M No change
KIDS Orthopediatrics Corp. 1.28% 531,540 $11.4M Reduce -2.5%
SRTA Strata Critical Medical Inc. filed as BLADE AIR MOBILITY INC 1.25% 2,765,468 $11.1M No change
ONDS Ondas Inc. filed as ONDAS HLDGS INC 1.25% 5,793,239 $11.1M New
TALK Talkspace Inc. 1.24% 3,968,500 $11.0M No change
LMAT Lemaitre Vascular Inc. 1.21% 130,000 $10.8M Reduce -10.3%
REAL BROKERAGE INC/THE filed as THE REAL BROKERAGE INC 1.17% 2,317,865 $10.5M No change
DXLG Destination XL Group Inc. 1.17% 9,399,297 $10.4M No change
ARBE Arbe Robotics Ltd. 1.16% 5,788,169 $10.3M Reduce -2.4%
ACOG Alpha Cognition Inc. 1.15% 1,095,652 $10.2M No change
GNSS Genasys Inc. 1.10% 5,649,544 $9.8M No change
OOMA Ooma Inc. 1.06% 732,627 $9.5M Reduce -35.0%
VITL Vital Farms Inc. 1.05% 242,249 $9.3M No change
IMDX Insight Molecular Diagnostic 0.96% 2,822,530 $8.5M No change
ASPN Aspen Aerogels Inc. 0.95% 1,435,477 $8.5M Reduce -41.4%
GAIA Gaia Inc. 0.94% 1,912,706 $8.4M Reduce -2.5%
ARGX Argenx SE - ADR 0.93% 15,000 $8.3M Reduce -34.8%
INFU Infusystem Holdings Inc. 0.89% 1,272,296 $7.9M Reduce -21.8%
MIND MEDICINE MINDMED INC 0.88% 1,215,662 $7.9M Add +0.6%
CTRN Citi Trends Inc. 0.87% 232,477 $7.8M No change
REAL The Realreal Inc. filed as THE REALREAL INC 0.77% 1,433,847 $6.9M Add +3.2%
TLSI Trisalus Life Sciences Inc. 0.76% 1,250,000 $6.8M New
Bit Digital, Inc. 0.74% 3,000,000 $6.6M New
RSVR Reservoir Media Inc. 0.73% 847,558 $6.5M Add +6.3%
TBCH Turtle Beach Corp. 0.70% 452,352 $6.3M No change
RGEN Repligen Corp. 0.63% 45,000 $5.6M Reduce -21.1%
ABX Abacus Global Management Inc. 0.62% 1,083,695 $5.6M Add +59.2%
CRVO Cervomed Inc. 0.61% 863,200 $5.4M No change
LPTH Lightpath Technologies Inc. Class A 0.60% 1,727,610 $5.3M No change
NATR Natures Sunshine Prods Inc. 0.58% 350,000 $5.2M New
BRPHF Galaxy Digital HLD Ltd. Class A 0.58% 235,000 $5.1M New
NONE filed as Galaxy Digital, Inc.-Class A 0.55% 225,000 $4.9M New
XTNT Xtant Medical Holdings Inc. 0.55% 6,596,621 $4.9M New
CNTY Century Casinos Inc. 0.52% 2,195,549 $4.6M Add +6.4%
Allot Ltd. (Israel) 0.48% 498,700 $4.3M New
PGNY Progyny Inc. 0.44% 180,000 $4.0M No change
FORGE GLOBAL HOLDINGS INC 0.44% 206,392 $3.9M Reduce -94.8%
LSF Laird Superfood Inc. 0.42% 599,411 $3.8M Add +33.2%
OPRX Optimizerx Corp. 0.39% 255,421 $3.4M No change
Forte Biosciences, Inc. 0.38% 261,821 $3.4M Add +91.4%
AVNW Aviat Networks Inc. 0.37% 138,806 $3.3M No change
SNCR Synchronoss Technologies Inc. 0.36% 465,785 $3.2M Add +3.4%
SPIR Spire Global Inc. 0.36% 266,545 $3.2M Add +1044.0%
UCTT Ultra Clean Holdings Inc. 0.36% 140,440 $3.2M Reduce -33.1%
APEI American Public Education 0.34% 99,000 $3.0M No change
ELDN Eledon Pharmaceuticals Inc. 0.33% 1,100,473 $3.0M No change
GRWG Growgeneration Corp. 0.33% 3,109,535 $2.9M Reduce -5.3%
AVDL Avadel Pharmaceuticals Ltd. 0.31% 316,189 $2.8M Add +671.2%
CRNX Crinetics Pharmaceuticals Inc. 0.31% 95,000 $2.7M No change
IPWR Ideal Power Inc. 0.31% 601,531 $2.7M No change
ABEO Abeona Therapeutics Inc. 0.30% 470,000 $2.7M New
OPK Opko Health Inc. 0.30% 2,000,000 $2.6M Add +8.1%
RNXT Renovorx Inc. 0.28% 1,870,225 $2.5M Reduce -18.1%
DHX Dhi Group Inc. 0.23% 681,000 $2.0M No change
SERA Sera Prognostics Inc. Class A 0.21% 680,931 $1.9M Reduce -21.4%
SYNX Silynxcom Ltd. 0.20% 1,043,593 $1.8M Add +56.0%
BNTC Benitec Biopharma Inc. 0.18% 137,977 $1.6M No change
PVLA Palvella Therapeutics Inc. 0.18% 69,416 $1.6M No change
ECOR Electrocore Inc. 0.16% 269,926 $1.4M Reduce -15.2%
AYTU Aytu Biopharma Inc. 0.15% 619,874 $1.4M New
BDTX Black Diamond Therapeutics I 0.14% 500,000 $1.2M No change
NKTX Nkarta Inc. 0.13% 700,000 $1.2M Reduce -30.0%
STIM Neuronetics Inc. 0.10% 245,924 $858K No change
TEAD Teads Holding Co. 0.08% 286,155 $710K No change
MFI MF International Ltd. Class A filed as MF INTL LTD 0.08% 113,177 $686K New
MODULAR MED INC 0.07% 878,628 $655K Reduce -15.0%
NMTC NeuroOne Medical Technologies 0.07% 916,667 $622K Reduce -21.4%
ANRO Alto Neuroscience Inc. 0.07% 280,483 $617K Reduce -68.9%
Other holdings (2): bonds, preferreds, convertibles and warrants · $202K (not counted above)
SecurityClassShares / PrincipalValueChange
MOBBW Mobilicom Ltd. -27 *W EXP 08/31/202 363,100$134KNo change
ABLLW East Resources Acquis -CW27 *W EXP 06/30/202 60,561$68KNo change

Total filed on the 13F, all lines: $891.7M.

Portfolio Sells Q1 2025 → Q2 2025
ADMA Adma Biologics Inc. Reduce -9.3% 4.49% −2.14
ASPN Aspen Aerogels Inc. Reduce -41.4% 0.95% −1.20
OOMA Ooma Inc. Reduce -35.0% 1.06% −0.97
ARGX Argenx SE - ADR Reduce -34.8% 0.93% −0.95
ALMU Aeluma Inc. Sold out 0.00% −0.82
VICR Vicor Corp. Reduce -10.5% 1.70% −0.70
SNWV Sanuwave Health Inc. Reduce -4.6% 1.80% −0.70
KIDS Orthopediatrics Corp. Reduce -2.5% 1.28% −0.57
PI Impinj Inc. Reduce -18.3% 2.22% −0.51
LMAT Lemaitre Vascular Inc. Reduce -10.3% 1.21% −0.47
RGEN Repligen Corp. Reduce -21.1% 0.63% −0.37
INFU Infusystem Holdings Inc. Reduce -21.8% 0.89% −0.32
BFLY Butterfly Network Inc. Sold out 0.00% −0.31
UCTT Ultra Clean Holdings Inc. Reduce -33.1% 0.36% −0.26
SERA Sera Prognostics Inc. Class A Reduce -21.4% 0.21% −0.23
UTI Universal Technical Institut Reduce -18.4% 1.61% −0.22
ANRO Alto Neuroscience Inc. Reduce -68.9% 0.07% −0.20
GRWG Growgeneration Corp. Reduce -5.3% 0.33% −0.16
NUVB Nuvation Bio Inc. Sold out 0.00% −0.16
OFIX Orthofix Medical Inc. Sold out 0.00% −0.15
ECOR Electrocore Inc. Reduce -15.2% 0.16% −0.13
NKTX Nkarta Inc. Reduce -30.0% 0.13% −0.12
NNDM Nano Dimension Ltd. - ADR Sold out 0.00% −0.12
CAPR Capricor Therapeutics Inc. Sold out 0.00% −0.11
GAIA Gaia Inc. Reduce -2.5% 0.94% −0.10
MODULAR MED INC Reduce -15.0% 0.07% −0.08
IRD Opus Genetics Inc. Sold out 0.00% −0.07
NMTC NeuroOne Medical Technologies Reduce -21.4% 0.07% −0.07
EU Encore Energy Corp. Sold out 0.00% −0.06
URBAN-GRO INC Sold out 0.00% −0.04
MaxCyte, Inc. Sold out 0.00% −0.04
RNXT Renovorx Inc. Reduce -18.1% 0.28% −0.03
MOVANO INC Sold out 0.00% −0.03
BITF Bitfarms Ltd./Canada Sold out 0.00% −0.02
FORGE GLOBAL HOLDINGS INC Reduce -94.8% 0.44% +0.14
ARBE Arbe Robotics Ltd. Reduce -2.4% 1.16% +0.31
ASPI Asp Isotopes Inc. Reduce -12.9% 3.25% +0.33
AEHR Aehr Test Systems Reduce -0.9% 2.28% +0.69
AVAV Aerovironment Inc. Reduce -12.3% 3.64% +1.51
BKSY Blacksky Technology Inc. Reduce -7.5% 5.10% +2.56

Portfolio Buys Q1 2025 → Q2 2025
LASR Nlight Inc. Add +1.9% 2.97% +1.56
ONDS Ondas Inc. New 1.25% +1.25
TLSI Trisalus Life Sciences Inc. New 0.76% +0.76
Bit Digital, Inc. New 0.74% +0.74
NATR Natures Sunshine Prods Inc. New 0.58% +0.58
BRPHF Galaxy Digital HLD Ltd. Class A New 0.58% +0.58
NONE New 0.55% +0.55
XTNT Xtant Medical Holdings Inc. New 0.55% +0.55
Allot Ltd. (Israel) New 0.48% +0.48
KOPN Kopin Corp. Add +1.5% 1.69% +0.45
ARLO Arlo Technologies Inc. Add +6.1% 1.32% +0.43
SPIR Spire Global Inc. Add +1044.0% 0.36% +0.33
ABEO Abeona Therapeutics Inc. New 0.30% +0.30
AVDL Avadel Pharmaceuticals Ltd. Add +671.2% 0.31% +0.27
Forte Biosciences, Inc. Add +91.4% 0.38% +0.23
RCAT Red Cat Holdings Inc. Add +15.3% 1.66% +0.23
AYTU Aytu Biopharma Inc. New 0.15% +0.15
MFI MF International Ltd. Class A New 0.08% +0.08
LSF Laird Superfood Inc. Add +33.2% 0.42% +0.04
CNTY Century Casinos Inc. Add +6.4% 0.52% +0.04
ABX Abacus Global Management Inc. Add +59.2% 0.62% −0.08
MIND MEDICINE MINDMED INC Add +0.6% 0.88% −0.09
RSVR Reservoir Media Inc. Add +6.3% 0.73% −0.11
OPK Opko Health Inc. Add +8.1% 0.30% −0.13
SYNX Silynxcom Ltd. Add +56.0% 0.20% −0.13
BLZE Backblaze Inc. Class A Add +0.7% 1.89% −0.14
LOVE The Lovesac Co. Add +7.2% 1.49% −0.22
REAL The Realreal Inc. Add +3.2% 0.77% −0.26
SNCR Synchronoss Technologies Inc. Add +3.4% 0.36% −0.32
CEVA Ceva Inc. Add +8.4% 1.64% −0.53
GRSD Grandstand Ltd. Add +0.3% 1.99% −0.60

All Filings

QuarterPositions13F Reported ValueTop Holdings
Q2 2026 106$1.2BLASR, VICR, MASS, LPTH, AMSC
Q1 2026 98$903.4MAEHR, LASR, VICR, BKSY, GILT
Q4 2025 102$1.0BLASR, ADMA, VICR, BKSY, AEHR
Q3 2025 101$1.1BAEHR, MASS, AMSC, BKSY, AVAV
Q2 2025 92$891.5MAMSC, BKSY, ADMA, MASS, AVAV
Q1 2025 93$725.8MADMA, AMSC, AIOT, MASS, ASPI
Q4 2024 85$820.5MADMA, AMSC, AIOT, BKSY, PI
Q3 2024 96$825.3MADMA, PI, AMSC, ASPN, DXLG
Q2 2024 98$740.2MADMA, AMSC, PI, DXLG, ASPN
Q1 2024 114$763.5MPI, ADMA, AMSC, ASPN, DXLG