First Light Asset Management reveals 13.15% Simulations Plus (SLP) ownership in 13G filing

Rhea-AI Filing Summary

Simulations Plus, Inc. received a Schedule 13G reporting that First Light Asset Management, LLC and its chief executive officer Mathew P. Arens beneficially own 2,649,879 shares of the company’s common stock, representing 13.15% of the outstanding class.

The filing states that First Light and Mr. Arens share voting and dispositive power over these shares, while having no sole voting or dispositive authority. They certify that the shares were acquired and are held in the ordinary course of business and not for the purpose of changing or influencing control of Simulations Plus.

SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13G

UNDER THE SECURITIES EXCHANGE ACT OF 1934

Simulations Plus, Inc.

(Name of Issuer)

Common Stock, $0.001 par value

(Title of Class of Securities)

829214105

(CUSIP Number)

01/31/2026

(Date of Event Which Requires Filing of this Statement)

Check the appropriate box to designate the rule pursuant to which this Schedule is filed:

Rule 13d-1(b)

Rule 13d-1(c)

Rule 13d-1(d)

SCHEDULE 13G

CUSIP No. 829214105

1

Names of Reporting Persons

First Light Asset Management, LLC

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

DELAWARE

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 0.00
6	Shared Voting Power 2,649,879.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 2,649,879.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

2,649,879.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

13.15 %

12

Type of Reporting Person (See Instructions)

IA

SCHEDULE 13G

CUSIP No. 829214105

1

Names of Reporting Persons

Mathew P. Arens

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

UNITED STATES

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 0.00
6	Shared Voting Power 2,649,879.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 2,649,879.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

2,649,879.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

13.15 %

12

Type of Reporting Person (See Instructions)

IN

SCHEDULE 13G

Item 1.
(a)	Name of issuer: Simulations Plus, Inc.
(b)	Address of issuer's principal executive offices: 800 Park Offices Drive, Suite 401, Research Triangle Park, NC 27709
Item 2.
(a)	Name of person filing: This Schedule 13G is jointly filed by the following: First Light Asset Management, LLC (the "Manager") Mathew P. Arens ("Mr. Arens") The Manager may be deemed to be the beneficial owner of 2,649,879 of the Issuer's shares of common stock (the "Shares"). The Manager acts as an investment adviser to certain persons holding separately managed accounts with the Manager, each of whom has the right to receive or the power to direct the receipt of dividends from, or the proceeds from the sale of, those shares. The Manager may also be deemed to be the beneficial owner of these shares because it acts as an investment adviser to certain private funds. Mr. Arens may also be deemed to be the beneficial owner of these shares because he controls the Manager in his position as managing member and majority owner of the Manager. The Manager and Mr. Arens are filing this Schedule 13G/A with respect to these Shares pursuant to Rule 13d-1(b) under the Act. The Manager and Mr. Arens may be deemed to be the beneficial owner of the total amount of Shares set forth across from its or his respective name in Item 4 below. The filing of this Schedule 13G shall not be construed as an admission that the reporting persons or any of their affiliates are the beneficial owner of any securities covered by this Schedule 13G for any other purposes other than Section 13(d) of the Securities Exchange Act of 1934.
(b)	Address or principal business office or, if none, residence: Each of the reporting persons identified in Item 2(a) has its principal business office at: 3300 Edinborough Way, Suite 201, Edina, MN 55435
(c)	Citizenship: First Light Asset Management, LLC - Delaware limited liability company Mathew P. Arens - United States citizen
(d)	Title of class of securities: Common Stock, $0.001 par value
(e)	CUSIP No.: 829214105
Item 3.	If this statement is filed pursuant to §§ 240.13d-1(b) or 240.13d-2(b) or (c), check whether the person filing is a:
(a)	Broker or dealer registered under section 15 of the Act (15 U.S.C. 78o);
(b)	Bank as defined in section 3(a)(6) of the Act (15 U.S.C. 78c);
(c)	Insurance company as defined in section 3(a)(19) of the Act (15 U.S.C. 78c);
(d)	Investment company registered under section 8 of the Investment Company Act of 1940 (15 U.S.C. 80a-8);
(e)	An investment adviser in accordance with § 240.13d-1(b)(1)(ii)(E);
(f)	An employee benefit plan or endowment fund in accordance with § 240.13d-1(b)(1)(ii)(F);
(g)	A parent holding company or control person in accordance with § 240.13d-1(b)(1)(ii)(G);
(h)	A savings associations as defined in Section 3(b) of the Federal Deposit Insurance Act (12 U.S.C. 1813);
(i)	A church plan that is excluded from the definition of an investment company under section 3(c)(14) of the Investment Company Act of 1940 (15 U.S.C. 80a-3);
(j)	A non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J). If filing as a non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J), please specify the type of institution:
(k)	Group, in accordance with Rule 240.13d-1(b)(1)(ii)(K).
Item 4.	Ownership
(a)	Amount beneficially owned: First Light Asset Management, LLC - 2,649,879 Mathew P. Arens - 2,649,879
(b)	Percent of class: First Light Asset Management, LLC - 13.15% Mathew P. Arens - 13.15%
(c)	Number of shares as to which the person has:
	(i) Sole power to vote or to direct the vote: First Light Asset Management, LLC - 0 Mathew P. Arens - 0
	(ii) Shared power to vote or to direct the vote: First Light Asset Management, LLC - 2,649,879 Mathew P. Arens - 2,649,879
	(iii) Sole power to dispose or to direct the disposition of: First Light Asset Management, LLC - 0 Mathew P. Arens -0
	(iv) Shared power to dispose or to direct the disposition of: First Light Asset Management, LLC - 2,649,879 Mathew P. Arens - 2,649,879
Item 5.	Ownership of 5 Percent or Less of a Class.
	Not Applicable
Item 6.	Ownership of more than 5 Percent on Behalf of Another Person.
	Not Applicable
Item 7.	Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on by the Parent Holding Company or Control Person.
	Not Applicable
Item 8.	Identification and Classification of Members of the Group.
	Not Applicable
Item 9.	Notice of Dissolution of Group.
	Not Applicable

Item 10.

Certifications:

By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were acquired and are held in the ordinary course of business and were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under ?? 240.14a-11.

SIGNATURE

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

First Light Asset Management, LLC

Signature:	/s/ Kurt T. Peterson
Name/Title:	Kurt T. Peterson/Chief Compliance Officer
Date:	02/06/2026

Mathew P. Arens

Signature:	/s/ Mathew P. Arens
Name/Title:	Mathew P. Arens/Chief Executive Officer
Date:	02/06/2026

Exhibit Information

Exhibit A: Joint Filing Agreement

FAQ

What does the Schedule 13G filing disclose about Simulations Plus (SLP)?

The Schedule 13G discloses that First Light Asset Management, LLC and Mathew P. Arens beneficially own 2,649,879 Simulations Plus shares, or 13.15% of the common stock, giving them shared voting and dispositive power while holding the shares in the ordinary course of business.

Who are the reporting persons in the Simulations Plus (SLP) Schedule 13G?

The reporting persons are First Light Asset Management, LLC, a Delaware limited liability company, and its chief executive officer, Mathew P. Arens, a United States citizen. Both are deemed beneficial owners of the same 2,649,879 Simulations Plus common shares reported in the filing.

How much of Simulations Plus (SLP) does First Light Asset Management beneficially own?

First Light Asset Management, LLC is reported as beneficially owning 2,649,879 shares of Simulations Plus common stock, representing 13.15% of the class. This ownership is reported with shared voting and shared dispositive power, and no sole power over any of the shares.

What voting and dispositive powers are reported over Simulations Plus (SLP) shares?

The filing states that First Light Asset Management and Mathew P. Arens have shared voting power over 2,649,879 Simulations Plus shares and shared dispositive power over the same amount, with zero shares under sole voting or sole dispositive power for either reporting person.

Is the Simulations Plus (SLP) stake reported as a passive investment?

Yes. The certification explains the securities were acquired and are held in the ordinary course of business, not for the purpose of changing or influencing control of Simulations Plus, and not in connection with any transaction intended to have that control-related purpose or effect.

In what capacity does First Light Asset Management hold Simulations Plus (SLP) shares?

First Light Asset Management holds the Simulations Plus shares as an investment adviser to separately managed accounts and certain private funds. Those clients have rights to dividends or sale proceeds, while First Light and Mathew P. Arens are deemed beneficial owners through their advisory and control roles.