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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
+28.72%
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
$14.7B
AUM Growth
+$761M
Cap. Flow
-$934M
Cap. Flow %
-6.35%
Top 10 Hldgs %
16.56%
Holding
518
New
87
Increased
137
Reduced
150
Closed
114

Top Buys

Rank Stock Value
1
EOSE icon
Eos Energy Enterprises
EOSE
+$111M
2
RMBS icon
Rambus
RMBS
+$93.9M
3
PRAX icon
Praxis Precision Medicines
PRAX
+$80.5M
4
FMX icon
Fomento Económico Mexicano
FMX
+$65.4M
5
NU icon
Nu Holdings
NU
+$59.3M

Top Sells

Rank Stock Value
1
ALAB icon
Astera Labs
ALAB
+$138M
2
CVLT icon
Commault Systems
CVLT
+$120M
3
PL icon
Planet Labs
PL
+$84M
4
OLLI icon
Ollie's Bargain Outlet
OLLI
+$76.8M
5
CRDO icon
Credo Technology Group
CRDO
+$75.9M

Sector Composition

Rank Sector Weight
1 Healthcare 29.41%
2 Industrials 21.41%
3 Technology 18.1%
4 Consumer Discretionary 9.17%
5 Financials 9.13%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
SKYE icon
501
Skye Bioscience
SKYE
$20.5M
– –
-620,395
Closed -$2.44M
RBRK icon
502
Rubrik
RBRK
$15.3B
– –
-510,935
Closed -$42M
OKLO
503
Oklo
OKLO
$7.22B
– –
-110,298
Closed -$12.3M
TLN
504
Talen Energy Corp
TLN
$16.4B
– –
-23,820
Closed -$10.1M
USAR
505
USA Rare Earth Inc
USAR
$3.88B
– –
-2,305,217
Closed -$39.6M
CRCL
506
Circle Internet Group
CRCL
$15.1B
– –
-50,194
Closed -$6.65M
TACO
507
Berto Acquisition Corp
TACO
$392M
– –
-395,129
Closed -$4.11M
ASIC
508
Ategrity Specialty Insurance
ASIC
$1.16B
– –
-381,830
Closed -$7.55M
XRPN
509
Armada Acquisition Corp II
XRPN
$330M
– –
-150,000
Closed -$1.57M
XRPNW
510
Armada Acquisition Corp II Warrant
XRPNW
$8.91M
– –
-74,999
Closed -$71.2K
ARX
511
Accelerant Holdings
ARX
$2.64B
– –
-1,011,940
Closed -$15.1M
BLUWW
512
Blue Water Acquisition Corp III Warrant
BLUWW
$4.94M
– –
-112,500
Closed -$15.8K
BLUW
513
Blue Water Acquisition Corp III
BLUW
$334M
– –
-225,000
Closed -$2.24M
HCMAU
514
HCM III Acquisition Corp Units
HCMAU
– –
-50,000
Closed -$516K
WYFI
515
WhiteFiber Inc
WYFI
$995M
– –
-1,366,227
Closed -$37.1M
HVMCU
516
Highview Merger Corp Units
HVMCU
– –
-500,000
Closed -$5.06M
LATAU
517
Galata Acquisition Corp. II Units
LATAU
– –
-200,000
Closed -$2M
BDCIU
518
BTC Development Corp Unit
BDCIU
$232M
– –
-100,000
Closed -$1.01M
17 18 19 20
21

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Driehaus Capital Management's Q4 2025 Portfolio in Review

As of Q4 2025, Driehaus Capital Management held 518 positions worth $14.7B, up 5.4% from $14B the previous quarter. Its ten largest holdings account for 17% of the portfolio.

Driehaus Capital Management withdrew a net $934M in Q4 2025, closing 114 positions and reducing 150 holdings. Its most notable exit was Commault Systems, an estimated $120M position sold in full.

By sector, the portfolio is most concentrated in Healthcare at 29% of assets, up from 20% a quarter earlier, followed by Industrials and Technology.

Against the trend, Driehaus Capital Management opened a new position in Rambus worth $87.7M.

  • Driehaus Capital Management's largest Q4 2025 buy was Rambus: 954,164 shares worth $87.7M.
  • Driehaus Capital Management added most to Eos Energy Enterprises in Q4 2025, an estimated $111M increase.
  • Driehaus Capital Management's biggest Q4 2025 reduction was Astera Labs, cutting an estimated $138M.
  • Driehaus Capital Management fully exited Commault Systems in Q4 2025, selling an estimated $120M.
  • Driehaus Capital Management's ten largest holdings make up 17% of its $14.7B portfolio in Q4 2025.
  • Driehaus Capital Management opened 87 new positions and closed 114 in Q4 2025.
  • Driehaus Capital Management's portfolio value rose 5.4% quarter-over-quarter to $14.7B.

Based on Driehaus Capital Management's 13F filing for Q4 2025, filed 17 Feb 2026.