Driehaus Capital Management’s Varonis Systems VRNS Stock Holding History

Bought

Maintained

Sold

Quarter	Market Value	Status	Shares	Change in Stake	Trade Value	Portfolio Weight	Portfolio Position
2025 Q4	–	Sell	-551,702	Closed	-$31.7M	–	492
2025 Q3	$31.7M	Buy	+551,702	New	+$30.6M	0.23%	149
2025 Q1	–	Sell	-1,084,651	Closed	-$48.2M	–	464
2024 Q4	$48.2M	Sell	1,084,651 -264,813	-20%	-$13.8M	0.4%	87
2024 Q3	$76.2M	Buy	+1,349,464	New	+$71M	0.65%	38
2021 Q4	–	Sell	-385,877	Closed	-$23.5M	–	450
2021 Q3	$23.5M	Buy	+385,877	New	+$24.2M	0.28%	109
2018 Q3	–	Sell	-13,200	Closed	-$328K	–	556
2018 Q2	$328K	Sell	13,200 -389,280	-97%	-$9.33M	0.01%	419
2018 Q1	$8.12M	Sell	402,480 -346,932	-46%	-$6.42M	0.29%	94
2017 Q4	$12.1M	Sell	749,412 -198,420	-21%	-$3.11M	0.46%	50
2017 Q3	$13.2M	Buy	947,832 +185,340	+24%	+$2.39M	0.52%	39
2017 Q2	$9.46M	Buy	762,492 +225,351	+42%	+$2.58M	0.35%	56
2017 Q1	$5.69M	Buy	+537,141	New	+$5.14M	0.2%	116
2014 Q2	–	Sell	-216,759	Closed	-$2.58M	–	637
2014 Q1	$2.58M	Buy	+216,759	New	+$3.14M	0.09%	294