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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
SPRY icon
501
ARS Pharmaceuticals
SPRY
$542M
– –
-464,030
Closed -$8.1M
SRZN icon
502
Surrozen
SRZN
$253M
– –
-67,566
Closed -$604K
SVRA icon
503
Savara
SVRA
$1.09B
– –
-182,296
Closed -$416K
TGTX icon
504
TG Therapeutics
TGTX
$7.07B
– –
-807,833
Closed -$29.1M
TITN icon
505
Titan Machinery
TITN
$423M
– –
-289,809
Closed -$5.74M
TOST icon
506
Toast
TOST
$19B
– –
-458,858
Closed -$20.3M
TW icon
507
Tradeweb Markets
TW
$21.5B
– –
-132,644
Closed -$19.4M
TWLO icon
508
Twilio
TWLO
$29.8B
– –
-268,404
Closed -$33.4M
UPST icon
509
Upstart Holdings
UPST
$2.82B
– –
-1,271,891
Closed -$82.3M
VIV icon
510
Telefônica Brasil
VIV
$20.3B
– –
-173,081
Closed -$1.97M
VLUE icon
511
iShares MSCI USA Value Factor ETF
VLUE
$9.21B
– –
-1,828
Closed -$207K
VRNA
512
DELISTED
Verona Pharma
VRNA
– –
-338,360
Closed -$32M
VRTX icon
513
Vertex Pharmaceuticals
VRTX
$119B
– –
-677
Closed -$301K
VT icon
514
Vanguard Total World Stock ETF
VT
$78B
– –
-2,636
Closed -$339K
XGN icon
515
Exagen
XGN
$113M
– –
-480,918
Closed -$3.36M
LOAR icon
516
Loar Holdings
LOAR
$6.74B
– –
-670,439
Closed -$57.8M
MRX
517
Marex Group Limited Ordinary Shares
MRX
$4.61B
– –
-753,652
Closed -$29.7M
LB
518
LandBridge Co
LB
$2.09B
– –
-231,580
Closed -$15.7M
BOW
519
Bowhead Specialty Holdings
BOW
$1.11B
– –
-382,500
Closed -$14.4M
GAUZ
520
Gauzy
GAUZ
$5.23M
– –
-256,279
Closed -$2.16M
RAPP
521
Rapport Therapeutics
RAPP
$1.95B
– –
-131,340
Closed -$1.49M
TWFG
522
TWFG Inc
TWFG
$356M
– –
-377,138
Closed -$13.2M
BKV
523
BKV Corp
BKV
$2.67B
– –
-329,068
Closed -$7.94M
DYNC
524
Dynamix Corp
DYNC
$240M
– –
-748,023
Closed -$7.62M
DYNCW
525
Dynamix Corp Warrant
DYNCW
– –
-450,000
Closed -$162K
18 19 20
21
22

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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.