Driehaus Capital Management LLC
Filing Date
Global Rank
#347
/ 7,976
▲ 23
Top Industry
Biotechnology
14.1%
3Y Alpha vs SPY
+2.9%
Period ended 9 months ago
Filed Nov 14, 2025 · 7mo
23 quarters · since Mar 2020
Clone Performance
Jun 2023–Jun 2026 · vs SPYHypothetical growth of cloning every reported 13F position and rebalancing on each filing, indexed to the same start.
Cloned portfolio
+90.0%
SPY
+76.5%
Annualised alpha
+3.0%
Max drawdown
−32.5%
Estimate. 13F holdings are quarter-lagged and long-only, so the clone rebalances about 45 days after each period end — when the filing becomes public — and excludes options and short positions. Past performance does not predict future results.
Portfolio Concentration
395 positions · as of Sep 30, 2025 · Δ vs Jun 30, 2025Top Position
4.6%
−0.3 pts
Top 5
10.3%
−0.9 pts
Top 10
15.8%
−1.4 pts
HHI
73
Diversified−7
Portfolio Trend
23 quarters · across all stocks
Sector Breakdown
As of Sep 30, 2025| Sector | % Portfolio | Value |
|---|---|---|
| Industrials | 23.6% | $3,254,182,854 |
| Technology | 22.3% | $3,065,159,718 |
| Healthcare | 19.4% | $2,665,334,323 |
| Consumer Cyclical | 9.6% | $1,326,975,095 |
| Financial Services | 9.2% | $1,267,941,429 |
| Energy | 4.9% | $678,414,430 |
| Basic Materials | 4.7% | $641,652,402 |
| Consumer Defensive | 4.1% | $565,438,141 |
| Communication Services | 1.9% | $258,389,147 |
| Utilities | 0.3% | $38,466,138 |
| Unclassified | 0.0% | $4,920,312 |
| Real Estate | 0.0% | $1,123,113 |
Last Quarter's Activity
Export CSVAdded To
Positions the filer increased
25 positions
| Ticker | Company | Δ Shares | Shares | Value | Open |
|---|---|---|---|---|---|
| PL | Planet Labs PBC | +8,310,284 | 14,372,467 | $186,554,621 | |
| GRAB | Grab Holdings Ltd | +7,317,462 | 7,700,582 | $46,357,503 | |
| WULF | Terawulf Inc. | +5,652,461 | 9,006,964 | $102,859,528 | |
| VALE | Vale S.A. | +4,041,775 | 8,186,514 | $88,905,542 | |
| RSI | Rush Street Interactive, Inc. | +1,823,744 | 4,033,625 | $82,608,640 | |
| HDB | Hdfc Bank Ltd | +1,775,684 | 3,205,345 | $109,494,585 | |
| REAL | TheRealReal, Inc. | +1,425,006 | 3,094,432 | $32,893,812 | |
| EYE | National Vision Holdings, Inc. | +1,267,788 | 2,256,000 | $65,852,640 | |
| QBTS | D-Wave Quantum Inc. | +1,234,071 | 2,443,818 | $60,386,742 | |
| ABCL | AbCellera Biologics Inc. | +1,227,019 | 1,726,941 | $8,686,513 | |
| AMLX | Amylyx Pharmaceuticals, Inc. | +1,155,770 | 2,420,767 | $32,898,223 | |
| TDUP | ThredUp Inc. | +1,128,668 | 2,502,219 | $23,645,969 | |
| NU | Nu Holdings Ltd. | +876,435 | 4,016,759 | $64,308,311 | |
| SRRK | Scholar Rock Holding Corp | +846,444 | 2,023,959 | $75,372,233 | |
| XMTR | Xometry, Inc. | +768,328 | 1,497,085 | $81,546,219 | |
| ASTS | AST SpaceMobile, Inc. | +680,268 | 1,025,758 | $50,344,202 | |
| SWIM | Latham Group, Inc. | +663,509 | 2,117,550 | $16,114,555 | |
| IAG | Iamgold Corp | +653,738 | 2,888,177 | $37,344,128 | |
| CAE | Cae Inc | +603,600 | 1,232,400 | $36,528,336 | |
| ADPT | Adaptive Biotechnologies Corp | +596,350 | 3,019,940 | $45,178,302 | |
| CPA | Copa Holdings, S.A. | +577,673 | 654,390 | $77,754,619 | |
| XERS | Xeris Biopharma Holdings, Inc. | +548,054 | 2,619,129 | $21,319,710 | |
| SMR | NUSCALE POWER Corp | +534,145 | 915,975 | $32,975,100 | |
| ARLO | Arlo Technologies, Inc. | +487,513 | 2,485,483 | $42,128,936 | |
| NXE | NexGen Energy Ltd. | +484,055 | 3,844,119 | $34,404,865 | |
| No positions match the current search. | |||||
Trimmed
Positions the filer reduced
25 positions
| Ticker | Company | Δ Shares | Shares | Value | Open |
|---|---|---|---|---|---|
| YMM | Full Truck Alliance Co. Ltd. | −5,660,779 | 286,309 | $3,713,427 | |
| CORZ | Core Scientific, Inc./tx | −1,814,692 | 3,935,066 | $70,595,084 | |
| MOS | Mosaic Co | −1,561,934 | 390,477 | $13,541,742 | |
| SEI | Solaris Energy Infrastructure, Inc. | −1,282,827 | 961,547 | $38,433,033 | |
| MGNI | Magnite, Inc. | −1,265,882 | 1,516,296 | $33,024,926 | |
| ITUB | Itau Unibanco Holding S.A. | −1,188,489 | 10,590,674 | $75,471,261 | |
| STNE | StoneCo Ltd. | −1,178,141 | 5,065,011 | $95,779,358 | |
| LTH | Life Time Group Holdings, Inc. | −1,127,227 | 1,675,467 | $46,242,889 | |
| UEC | Uranium Energy Corp | −1,078,861 | 9,487,816 | $126,567,465 | |
| KTOS | Kratos Defense & Security Solutions, Inc. | −965,607 | 911,297 | $83,265,206 | |
| BLFY | Blue Foundry Bancorp | −916,053 | 400,997 | $3,645,062 | |
| CCJ | Cameco Corp | −915,805 | 1,747,262 | $146,525,391 | |
| NTNX | Nutanix, Inc. | −814,129 | 169,364 | $12,598,987 | |
| SRAD | Sportradar Group AG | −760,972 | 2,280,929 | $61,356,990 | |
| SKWD | Skyward Specialty Insurance Group, Inc. | −724,296 | 656,743 | $31,234,697 | |
| BROS | Dutch Bros Inc. | −716,013 | 743,789 | $38,929,916 | |
| AR | ANTERO RESOURCES Corp | −707,609 | 386,490 | $12,970,604 | |
| UTI | Universal Technical Institute Inc | −623,443 | 225,233 | $7,331,334 | |
| CRDO | Credo Technology Group Holding Ltd | −586,886 | 877,110 | $127,715,987 | |
| AAOI | Applied Optoelectronics, Inc. | −565,617 | 375,296 | $9,731,425 | |
| LRCX | Lam Research Corp | −529,872 | 45,663 | $6,114,275 | |
| ALAB | Astera Labs, Inc. | −521,055 | 825,269 | $161,587,670 | |
| PRCH | Porch Group, Inc. | −510,329 | 2,678,509 | $44,945,381 | |
| IBN | Icici Bank Ltd | −507,612 | 5,359,266 | $162,010,611 | |
| EOSE | Eos Energy Enterprises, Inc. | −476,450 | 6,565,509 | $74,781,147 | |
| No positions match the current search. | |||||
New Positions
Positions the filer opened this quarter
25 positions
| Ticker | Company | Shares | Value | Open |
|---|---|---|---|---|
| PI | Impinj Inc | 514,500 | $92,995,875 | |
| BE | Bloom Energy Corp | 1,087,724 | $91,988,818 | |
| ARWR | Arrowhead Pharmaceuticals, Inc. | 2,099,398 | $72,408,237 | |
| IBP | Installed Building Products, Inc. | 228,621 | $56,391,655 | |
| MP | MP Materials Corp. / DE | 829,122 | $55,609,212 | |
| ECG | Everus Construction Group, Inc. | 647,847 | $55,552,880 | |
| MDGL | Madrigal Pharmaceuticals, Inc. | 115,974 | $53,192,634 | |
| VC | Visteon Corp | 429,512 | $51,481,308 | |
| THO | Thor Industries Inc | 430,044 | $44,591,262 | |
| HUT | Hut 8 Corp. | 1,267,787 | $44,131,665 | |
| OUST | Ouster, Inc. | 1,523,469 | $41,209,836 | |
| SITE | SiteOne Landscape Supply, Inc. | 308,956 | $39,793,532 | |
| USAR | USA Rare Earth, Inc. | 2,305,217 | $39,626,680 | |
| LIVN | LivaNova PLC | 743,442 | $38,941,491 | |
| WYFI | WhiteFiber, Inc. | 1,366,227 | $37,120,387 | |
| TNL | Travel & Leisure Co. | 556,866 | $33,127,958 | |
| AMPX | Amprius Technologies, Inc. | 3,090,669 | $32,513,837 | |
| SMTC | Semtech Corp | 447,036 | $31,940,722 | |
| IESC | IES Holdings, Inc. | 80,072 | $31,840,630 | |
| VRNS | Varonis Systems Inc | 551,702 | $31,706,313 | |
| AMBA | Ambarella Inc | 381,131 | $31,450,930 | |
| HBM | Hudbay Minerals Inc. | 2,053,547 | $31,131,772 | |
| QFIN | Qfin Holdings, Inc. | 1,041,340 | $29,969,765 | |
| EVLV | Evolv Technologies Holdings, Inc. | 3,842,967 | $29,014,400 | |
| CUBI | Customers Bancorp, Inc. | 426,274 | $27,865,531 | |
| No positions match the current search. | ||||
Sold Out
Positions the filer fully exited
25 positions
| Ticker | Company | Shares | Value | Open |
|---|---|---|---|---|
| UPST | Upstart Holdings, Inc. | 1,271,891 | $82,265,909 | |
| PLMR | Palomar Holdings, Inc. | 474,922 | $73,256,718 | |
| DRS | Leonardo DRS, Inc. | 1,563,245 | $72,659,627 | |
| ARM | Arm Holdings PLC /Uk | 437,769 | $70,804,758 | |
| MNDY | monday.com Ltd. | 202,183 | $63,582,509 | |
| SFM | Sprouts Farmers Market, Inc. | 378,383 | $62,296,977 | |
| ALKT | Alkami Technology, Inc. | 2,044,303 | $61,615,292 | |
| LOAR | Loar Holdings Inc. | 670,439 | $57,771,728 | |
| GKOS | GLAUKOS Corp | 500,472 | $51,693,752 | |
| AVPT | AvePoint, Inc. | 2,650,323 | $51,177,737 | |
| ACVA | ACV Auctions Inc. | 2,801,374 | $45,438,286 | |
| ADMA | Adma Biologics, Inc. | 2,477,013 | $45,106,406 | |
| KNF | Knife River Corp | 540,385 | $44,117,031 | |
| CAVA | Cava Group, Inc. | 476,772 | $40,158,505 | |
| AGI | Alamos Gold Inc | 1,484,557 | $39,429,833 | |
| EXLS | ExlService Holdings, Inc. | 836,131 | $36,614,176 | |
| BRBR | Bellring Brands, Inc. | 598,558 | $34,674,464 | |
| TWLO | Twilio Inc | 268,404 | $33,378,721 | |
| CAKE | Cheesecake Factory Inc | 507,614 | $31,807,093 | |
| ESAB | ESAB Corp | 263,442 | $31,757,933 | |
| MRX | Marex Group plc | 753,652 | $29,746,644 | |
| BV | BrightView Holdings, Inc. | 1,756,476 | $29,245,325 | |
| TGTX | Tg Therapeutics, Inc. | 807,833 | $29,073,909 | |
| SLDE | Slide Insurance Holdings, Inc. | 1,120,201 | $24,263,553 | |
| HWM | Howmet Aerospace Inc. | 117,859 | $21,937,095 | |
| No positions match the current search. | ||||
395 positions ·
$13,767,997,102 total
· as of Sep 30, 2025
All sectors
Basic Materials
Communication Services
Consumer Cyclical
Consumer Defensive
Energy
Financial Services
Healthcare
Industrials
Real Estate
Technology
Utilities
Showing 1–50
of 395 positions by value
· page 1 of 8
| Ticker | Company | Type | Shares | Value (USD) | % of Portfolio | History |
|---|---|---|---|---|---|---|
| NOW |
ServiceNow, Inc.
Technology
|
Reduced | 388 | $71,413 | 0.00% | |
| NFLX |
Netflix Inc
Communication Services
|
Held | 794 | $95,194 | 0.00% | |
| XPRO |
Expro Group Holdings N.V.
Energy
|
NEW | 10,295 | $122,304 | 0.00% | |
| PM |
Philip Morris International Inc.
Consumer Defensive
|
Reduced | 2,154 | $349,378 | 0.00% | |
| USFD |
US Foods Holding Corp.
Consumer Defensive
|
Held | 4,710 | $360,880 | 0.00% | |
| LLY |
ELI LILLY & Co
Healthcare
|
Reduced | 474 | $361,662 | 0.00% | |
| ROP |
Roper Technologies Inc
Technology
|
Held | 734 | $366,038 | 0.00% | |
| PLD |
Prologis, Inc.
Real Estate
|
Held | 3,459 | $396,124 | 0.00% | |
| RDDT |
Reddit, Inc.
Communication Services
|
NEW | 2,002 | $460,439 | 0.00% | |
| NKE |
NIKE, Inc.
Consumer Cyclical
|
NEW | 6,648 | $463,565 | 0.00% | |
| CEG |
Constellation Energy Corp
Utilities
|
NEW | 1,465 | $482,087 | 0.00% | |
| VEEV |
Veeva Systems Inc
Healthcare
|
NEW | 1,789 | $532,960 | 0.00% | |
| NET |
Cloudflare, Inc.
Technology
|
Reduced | 2,521 | $540,981 | 0.00% | |
| ETN |
Eaton Corp plc
Industrials
|
NEW | 1,450 | $542,662 | 0.00% | |
| FCNCA |
First Citizens Bancshares Inc /De/
Financial Services
|
Held | 313 | $560,007 | 0.00% | |
| NGNE |
Neurogene Inc.
Healthcare
|
Held | 32,765 | $567,817 | 0.00% | |
| BSX |
Boston Scientific Corp
Healthcare
|
NEW | 6,122 | $597,690 | 0.00% | |
| VLO |
Valero Energy Corp/Tx
Energy
|
NEW | 4,024 | $685,126 | 0.00% | |
| TBBB |
Bbb Foods Inc
Consumer Defensive
|
Reduced | 25,839 | $696,619 | 0.01% | |
| SYK |
Stryker Corp
Healthcare
|
Held | 1,911 | $706,439 | 0.01% | |
| COF |
Capital One Financial Corp
Financial Services
|
Reduced | 3,327 | $707,253 | 0.01% | |
| WELL |
Welltower Inc.
Real Estate
|
NEW | 4,081 | $726,989 | 0.01% | |
| WMT |
Walmart Inc.
Consumer Defensive
|
Held | 7,315 | $753,883 | 0.01% | |
| UBER |
Uber Technologies, Inc
Technology
|
Added | 7,718 | $756,132 | 0.01% | |
| KO |
Coca Cola Co
Consumer Defensive
|
Added | 12,576 | $834,040 | 0.01% | |
| BA |
Boeing Co
Industrials
|
Added | 4,086 | $881,881 | 0.01% | |
| SLNO |
Soleno Therapeutics Inc
Healthcare
|
Reduced | 13,101 | $885,627 | 0.01% | |
| SPOT |
Spotify Technology S.A.
Communication Services
|
Added | 1,282 | $894,836 | 0.01% | |
| COIN |
Coinbase Global, Inc.
Financial Services
|
Added | 2,723 | $918,985 | 0.01% | |
| PYXS |
Pyxis Oncology, Inc.
Healthcare
|
NEW | 418,632 | $929,363 | 0.01% | |
| BAC |
Bank Of America Corp /De/
Financial Services
|
Added | 18,566 | $957,819 | 0.01% | |
| SHOP |
Shopify Inc.
Technology
|
NEW | 6,679 | $992,566 | 0.01% | |
| AVGO |
Broadcom Inc.
Technology
|
Reduced | 3,094 | $1,020,741 | 0.01% | |
| CAEP |
Cantor Equity Partners III, Inc.
Financial Services
|
Held | 100,000 | $1,032,000 | 0.01% | |
| ANET |
Arista Networks, Inc.
Technology
|
Added | 7,284 | $1,061,351 | 0.01% | |
| XOM |
Exxon Mobil Corp
Energy
|
Added | 9,483 | $1,069,208 | 0.01% | |
| MSI |
Motorola Solutions, Inc.
Technology
|
Added | 2,394 | $1,094,752 | 0.01% | |
| LIN |
Linde PLC
Basic Materials
|
Held | 2,305 | $1,094,875 | 0.01% | |
| EQT |
EQT Corp
Energy
|
Added | 20,952 | $1,140,417 | 0.01% | |
| GLD |
Spdr Gold Trust
|
Added | 3,246 | $1,153,855 | 0.01% | |
| AMZN |
Amazon Com Inc
Consumer Cyclical
|
Reduced | 5,484 | $1,204,121 | 0.01% | |
| KSPI |
Joint Stock Co Kaspi.kz
Technology
|
NEW | 15,190 | $1,240,719 | 0.01% | |
| TMCI |
Treace Medical Concepts, Inc.
Healthcare
|
Held | 188,915 | $1,267,619 | 0.01% | |
| PAM |
Pampa Energy Inc.
Industrials
|
Held | 21,253 | $1,276,455 | 0.01% | |
| APP |
AppLovin Corp
Communication Services
|
Added | 1,925 | $1,383,189 | 0.01% | |
| PEPG |
PepGen Inc.
Healthcare
|
NEW | 315,000 | $1,455,300 | 0.01% | |
| ALXO |
Alx Oncology Holdings Inc
Healthcare
|
NEW | 795,777 | $1,456,271 | 0.01% | |
| RLMD |
Relmada Therapeutics, Inc.
Healthcare
|
Held | 740,006 | $1,487,412 | 0.01% | |
| XRPN |
Armada Acquisition Corp. II
Financial Services
|
Held | 150,000 | $1,565,100 | 0.01% | |
| SO |
Southern Co
Utilities
|
Held | 16,552 | $1,568,633 | 0.01% |