Driehaus Capital Management portfolio

What changed this quarter

388 positions with a change (76 new, 121 added to, 107 trimmed, 84 sold); also, 8 entered through an IPO, 1 exited through an acquisition or merger. 12 are listed here: those of 0.5 points of the portfolio or more (up to 12).

• Fabrinet−95%fewer sharesReduced
  1.5% → 0.1%
• Credo Technology Group Holding+0.8 ppof portfolioNew
  — → 0.8%
• Taiwan Semiconductor Manufacturing−22%fewer sharesReduced
  3.1% → 2.7%
• Lumentum Holdings−64%fewer sharesReduced
  1.2% → 0.4%
• Vicor+162%more sharesIncreased
  0.2% → 1.1%
• Bloom Energy−54%fewer sharesReduced
  0.8% → 0.7%
• Cadence Design Systems+0.6 ppof portfolioNew
  — → 0.6%
• Coherent−50%fewer sharesReduced
  0.9% → 0.6%
• Dave+432%more sharesIncreased
  0.1% → 0.7%
• Astera Labs+0.5 ppof portfolioNew
  — → 0.5%
• Silicon Motion Technology+54%more sharesIncreased
  0.4% → 1.5%
• Life Time Group Holdings+342%more sharesIncreased
  0.1% → 0.7%

The figure on the right: for positions added to or trimmed, the change in the number of shares (%); for new and sold ones, the points of the portfolio moved (pp). Below, the portfolio weight before → after. Traded weight?: what it bought or sold, excluding price effects.

Top holdings

• Taiwan Semiconductor ManufacturingTSM2.7%
• Definium TherapeuticsDFTX1.9%
• Praxis Precision MedicinesPRAX1.9%
• Xenon PharmaceuticalsXENE1.5%
• Silicon Motion TechnologySIMO1.5%
• Spyre TherapeuticsSYRE1.4%
• Crinetics PharmaceuticalsCRNX1.4%
• Apogee Therapeutics1.3%
• Guardant HealthGH1.3%
• Planet Labs PBCPL1.3%
• CredicorpBAP1.3%
• Edgewise TherapeuticsEWTX1.1%
• VicorVICR1.1%
• Ultra Clean HoldingsUCTT1.1%
• Curtiss-wrightCW1.0%
• XometryXMTR1.0%
• TerawulfWULF0.9%
• SepternaSEPN0.9%
• NextpowerNXT0.8%
• CECO EnvironmentalCECO0.8%
• Credo Technology Group HoldingCRDO0.8%
• Carpenter TechnologyCRS0.8%
• Icici BankIBN0.8%
• NlightLASR0.8%
• ONTO InnovationONTO0.8%
• Rush Street InteractiveRSI0.7%
• SiTimeSITM0.7%
• Solaris Energy InfrastructureSEI0.7%
• DaveDAVE0.7%
• Scholar Rock HoldingSRRK0.7%
• Sterling InfrastructureSTRL0.7%
• Bloom EnergyBE0.7%
• PTC TherapeuticsPTCT0.7%
• Life Time Group HoldingsLTH0.7%
• Cardinal Infrastructure GroupCDNL0.7%
• Modine ManufacturingMOD0.7%
• Fomento Economico Mexicano SFMX0.7%
• Nu HoldingsNU0.6%
• SaiaSAIA0.6%
• Cadence Design SystemsCDNS0.6%
• Arrowhead PharmaceuticalsARWR0.6%
• VALEVALE0.6%
• Universal Technical InstituteUTI0.6%
• Southern Copper Corp/SCCO0.6%
• Kymera TherapeuticsKYMR0.6%
• Twist BioscienceTWST0.6%
• NateraNTRA0.6%
• StoneX GroupSNEX0.6%
• CoherentCOHR0.6%
• Esco TechnologiesESE0.6%
• Vita CocoCOCO0.6%
• MACOM Technology Solutions HoldingsMTSI0.6%
• Indivior PharmaceuticalsINDV0.5%
• Astera LabsALAB0.5%
• IMAXIMAX0.5%
• ImmunomeIMNM0.5%
• Axsome TherapeuticsAXSM0.5%
• GlaukosGKOS0.5%
• DigitalOcean HoldingsDOCN0.5%
• Protagonist TherapeuticsPTGX0.5%
• BandwidthBAND0.5%
• Dycom IndustriesDY0.5%
• Cipher DigitalCIFR0.5%
• UL SolutionsULS0.5%
• Structure TherapeuticsGPCR0.5%
• Travere TherapeuticsTVTX0.5%
• SezzleSEZL0.5%
• SOLV EnergyMWH0.5%
• Vista Energy, S.A.B. de C.V.VIST0.5%
• Eos Energy EnterprisesEOSE0.5%
• Dutch BrosBROS0.5%
• WisdomTreeWT0.5%
• FlywireFLYW0.5%
• Knight-Swift Transportation HoldingsKNX0.5%
• CAVA GroupCAVA0.5%
• Construction PartnersROAD0.4%
• FTAI AviationFTAI0.4%
• Forgent Power SolutionsFPS0.4%
• JFrogFROG0.4%
• Fluence EnergyFLNC0.4%
• Lumentum HoldingsLITE0.4%
• Advanced Energy IndustriesAEIS0.4%
• MercadoLibreMELI0.4%
• SemtechSMTC0.4%
• Almonty IndustriesALM0.4%
• Alkermes plc.ALKS0.4%
• CamecoCCJ0.4%
• TerexTEX0.4%
• MP MaterialsMP0.4%
• Garrett MotionGTX0.4%
• OpenlaneOPLN0.4%
• Comfort Systems USAFIX0.4%
• VeracyteVCYT0.4%
• Zurn Elkay Water SolutionsZWS0.4%
• Everus Construction GroupECG0.3%
• Firstcash HoldingsFCFS0.3%
• Mercury SystemsMRCY0.3%
• Tower SemiconductorTSEM0.3%
• MBX BiosciencesMBX0.3%
• BankUnitedBKU0.3%