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DCM

Driehaus Capital Management Portfolio holdings

AUM $13.6B
1-Year Est. Return 173.98%
This Fund
S&P 500
This Quarter Est. Return
+33.02%
1 Year Est. Return
+173.98%
3 Year Est. Return
+706.72%
5 Year Est. Return
+1,585.86%
10 Year Est. Return
+31,592.09%
AUM
$14B
AUM Growth
+$1.46B
Cap. Flow
-$850M
Cap. Flow %
-6.09%
Top 10 Hldgs %
15.61%
Holding
531
New
115
Increased
142
Reduced
137
Closed
100

Top Buys

Rank Stock Value
1
PI icon
Impinj
PI
+$81.1M
2
CPA icon
Copa Holdings
CPA
+$66.1M
3
PL icon
Planet Labs
PL
+$64.1M
4
IBP icon
Installed Building Products
IBP
+$54.3M
5
MP icon
MP Materials
MP
+$52.2M

Top Sells

Rank Stock Value
1
CYBR
CyberArk
CYBR
+$195M
2
ALAB icon
Astera Labs
ALAB
+$85.7M
3
UPST icon
Upstart Holdings
UPST
+$82.3M
4
MRUS
Merus
MRUS
+$77.4M
5
TSM icon
TSMC
TSM
+$77.3M

Sector Composition

Rank Sector Weight
1 Industrials 23.47%
2 Technology 21.96%
3 Healthcare 19.79%
4 Consumer Discretionary 9.5%
5 Financials 9.45%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
NET icon
401
Cloudflare
NET
$100B
$541K ﹤0.01%
2,521
-2,369
-48% -$484K
VEEV icon
402
Veeva Systems
VEEV
$33.5B
$533K ﹤0.01%
+1,789
New +$503K
HCMAU
403
HCM III Acquisition Corp Units
HCMAU
$516K ﹤0.01%
+50,000
New +$509K
EWY icon
404
iShares MSCI South Korea ETF
EWY
$23.3B
$514K ﹤0.01%
6,416
-31,710
-83% -$2.36M
CEG icon
405
Constellation Energy
CEG
$97.7B
$482K ﹤0.01%
+1,465
New +$473K
NKE icon
406
Nike
NKE
$63.3B
$464K ﹤0.01%
+6,648
New +$495K
AZN icon
407
AstraZeneca
AZN
$245B
$462K ﹤0.01%
3,009
-2,908
-49% -$440K
RDDT icon
408
Reddit
RDDT
$29.8B
$460K ﹤0.01%
+2,002
New +$409K
PLD icon
409
Prologis
PLD
$135B
$396K ﹤0.01%
3,459
– –
ROP icon
410
Roper Technologies
ROP
$38.8B
$366K ﹤0.01%
734
– –
LLY icon
411
Eli Lilly
LLY
$1,000B
$362K ﹤0.01%
474
-1,167
-71% -$868K
USFD icon
412
US Foods
USFD
$21.9B
$361K ﹤0.01%
4,710
– –
NOW icon
413
ServiceNow
NOW
$118B
$357K ﹤0.01%
1,940
-1,860
-49% -$347K
PM icon
414
Philip Morris
PM
$292B
$349K ﹤0.01%
2,154
-3,380
-61% -$569K
KSA icon
415
iShares MSCI Saudi Arabia ETF
KSA
$622M
$269K ﹤0.01%
6,641
+678
+11% +$25.8K
PGYWW
416
Pagaya Technologies Ltd Warrants
PGYWW
$1.45M
$240K ﹤0.01%
480,716
– –
UAE icon
417
iShares MSCI UAE ETF
UAE
$312M
$225K ﹤0.01%
11,895
-25,945
-69% -$507K
TIP icon
418
iShares TIPS Bond ETF
TIP
$14.5B
$205K ﹤0.01%
+1,839
New +$203K
TACOW
419
Berto Acquisition Corp Warrant
TACOW
$16.5M
$159K ﹤0.01%
226,724
– –
OACCW
420
Oaktree Acquisition Corp III Life Sciences Warrant
OACCW
$3.68M
$157K ﹤0.01%
180,000
– –
KFIIR
421
K&F Growth Acquisition Corp II Rights
KFIIR
$156K ﹤0.01%
1,200,000
– –
ATIIW
422
Archimedes Tech SPAC Partners II Co Warrant
ATIIW
$18.1M
$140K ﹤0.01%
400,000
– –
XPRO icon
423
Expro Ltd
XPRO
$1.79B
$122K ﹤0.01%
+10,295
New +$112K
HYAC.WS
424
DELISTED
Haymaker Acquisition Corp 4 Warrants
HYAC.WS
$100K ﹤0.01%
249,999
– –
NHICW
425
NewHold Investment Corp III Warrants
NHICW
$18.8M
$90K ﹤0.01%
249,999
– –
15 16
17
18 19

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Driehaus Capital Management's Q3 2025 Portfolio in Review

As of Q3 2025, Driehaus Capital Management held 531 positions worth $14B, up 12% from $12.5B the previous quarter. Its ten largest holdings account for 16% of the portfolio.

Driehaus Capital Management withdrew a net $850M in Q3 2025, closing 100 positions and reducing 137 holdings. Its most notable exit was Upstart Holdings, an estimated $82.3M position sold in full.

By sector, the portfolio is most concentrated in Industrials at 23% of assets, up from 20% a quarter earlier, followed by Technology and Healthcare.

Against the trend, Driehaus Capital Management opened a new position in Impinj worth $93M.

  • Driehaus Capital Management's largest Q3 2025 buy was Impinj: 514,500 shares worth $93M.
  • Driehaus Capital Management added most to Copa Holdings in Q3 2025, an estimated $66.1M increase.
  • Driehaus Capital Management's biggest Q3 2025 reduction was CyberArk, cutting an estimated $195M.
  • Driehaus Capital Management fully exited Upstart Holdings in Q3 2025, selling an estimated $82.3M.
  • Driehaus Capital Management's ten largest holdings make up 16% of its $14B portfolio in Q3 2025.
  • Driehaus Capital Management opened 115 new positions and closed 100 in Q3 2025.
  • Driehaus Capital Management's portfolio value rose 12% quarter-over-quarter to $14B.

Based on Driehaus Capital Management's 13F filing for Q3 2025, filed 14 Nov 2025.