Driehaus Capital Management LLC

Chicago, IL · CIK 938206 · 13F filing filed 2026-08-14

SEC-registered investment adviser since 1983 · limited liability company

Assets managed$26.1bn
Staff82 · 27 in investment roles
Main clients (by assets)Mutual funds and ETFs 39%, Private funds 31%, State and local governments 20%
Private funds5 (3 hedge) · $1.2bn gross assets
Form ADV · 2026-09-14SEC adviser record

Legal entityDRIEHAUS CAPITAL MANAGEMENT LLC (US)

$17.3bn reported value +26.9% vs Q1 2026

354positions

16.3%in top 10

84 new 139 added 108 reduced 85 sold out vs Q1 2026

Holdings, Q2 2026

The small lines show how much was held over the last 4 quarters (adjusted for stock splits).

#	Security	Ticker	Shares	Value	% of portfolio	Change	Shares change
1	TAIWAN SEMICONDUCTOR MFG LTD SPONSORED ADS TSM	TSM	984,500	$470.2m2.72%	2.72%	Reduced -280.4k	-280,390 -22.2%
2	DEFINIUM THERAPEUTICS INC COM SHS DFTX	DFTX	6,845,276	$322.0m1.87%	1.87%	Added +933.4k	+933,387 15.8%
3	PRAXIS PRECISION MEDICINES I COM NEW PRAX	PRAX	959,048	$321.1m1.86%	1.86%	Added +9.8k	+9,823 1.0%
4	XENON PHARMACEUTICALS INC COM XENE	XENE	4,418,557	$266.7m1.55%	1.55%	Reduced -73.1k	-73,096 -1.6%
5	SILICON MOTION TECHNOLOGY CO SPONSORED ADR SIMO	SIMO	786,074	$262.0m1.52%	1.52%	Added +276.1k	+276,099 54.1%
6	SPYRE THERAPEUTICS INC COM NEW SYRE	SYRE	2,799,166	$248.5m1.44%	1.44%	Added +8.4k	+8,381 0.3%
7	CRINETICS PHARMACEUTICALS IN COM CRNX	CRNX	6,463,551	$241.9m1.40%	1.40%	Added +67.6k	+67,629 1.1%
8	APOGEE THERAPEUTICS INC COM COM		1,740,101	$231.0m1.34%	1.34%	Reduced -180.7k	-180,699 -9.4%
9	GUARDANT HEALTH INC COM GH	GH	1,533,985	$230.1m1.33%	1.33%	Added +9.7k	+9,703 0.6%
10	PLANET LABS PBC COM CL A PL	PL	6,721,154	$222.7m1.29%	1.29%	Reduced -1.2m	-1,197,539 -15.1%
11	CREDICORP LTD COM BAP	BAP	557,228	$217.1m1.26%	1.26%	Added +106.5k	+106,498 23.6%
12	EDGEWISE THERAPEUTICS INC COM EWTX	EWTX	4,728,623	$192.1m1.11%	1.11%	Added +250.7k	+250,681 5.6%
13	VICOR CORP COM VICR	VICR	496,507	$188.6m1.09%	1.09%	Added +307.0k	+307,044 162.1%
14	ULTRA CLEAN HLDGS INC COM UCTT	UCTT	1,309,202	$186.7m1.08%	1.08%	Added +246.8k	+246,826 23.2%
15	CURTISS WRIGHT CORP COM CW	CW	229,123	$173.6m1.01%	1.01%	Added +3.4k	+3,364 1.5%
16	XOMETRY INC CLASS A COM XMTR	XMTR	1,768,213	$170.7m0.99%	0.99%	Added +255.4k	+255,358 16.9%
17	TERAWULF INC COM WULF	WULF	6,163,879	$152.2m0.88%	0.88%	Added +100.9k	+100,879 1.7%
18	SEPTERNA INC COM SEPN	SEPN	4,433,058	$148.5m0.86%	0.86%	Added +37.5k	+37,486 0.8%
19	NEXTRACKER INC CLASS A COM NXT	NXT	1,207,194	$143.8m0.83%	0.83%	Added +169.6k	+169,643 16.4%
20	CECO ENVIRONMENTAL CORP COM CECO	CECO	1,560,486	$141.6m0.82%	0.82%	Added +920.6k	+920,594 143.9%
21	CREDO TECHNOLOGY GROUP HOLDI ORDINARY SHARES CRDO	CRDO	517,062	$140.6m0.81%	0.81%	New
22	CARPENTER TECHNOLOGY CORP COM CRS	CRS	227,203	$140.1m0.81%	0.81%	Reduced -88.3k	-88,254 -28.0%
23	ICICI BANK LIMITED ADR IBN	IBN	4,826,120	$140.1m0.81%	0.81%	Added +569.3k	+569,260 13.4%
24	NLIGHT INC COM LASR	LASR	1,986,119	$138.3m0.80%	0.80%	Added +213.4k	+213,422 12.0%
25	ONTO INNOVATION INC COM ONTO	ONTO	354,650	$134.2m0.78%	0.78%	Added +34.1k	+34,116 10.6%
26	RUSH STREET INTERACTIVE INC COM RSI	RSI	4,341,612	$129.1m0.75%	0.75%	Added +1.7m	+1,725,453 66.0%
27	SITIME CORP COM SITM	SITM	172,133	$128.3m0.74%	0.74%	Reduced -55.8k	-55,832 -24.5%
28	SOLARIS ENERGY INFRAS INC COM CL A SEI	SEI	1,584,985	$127.5m0.74%	0.74%	Reduced -43.2k	-43,189 -2.6%
29	DAVE INC CLASS A COM NEW DAVE	DAVE	331,537	$123.5m0.72%	0.72%	Added +269.2k	+269,203 431.9%
30	SCHOLAR ROCK HLDG CORP COM SRRK	SRRK	2,205,618	$121.3m0.70%	0.70%	Added +285.4k	+285,385 14.9%
31	STERLING INFRASTRUCTURE INC COM STRL	STRL	143,684	$120.6m0.70%	0.70%	Reduced -24.5k	-24,525 -14.6%
32	BLOOM ENERGY CORP COM CL A BE	BE	390,259	$118.1m0.68%	0.68%	Reduced -459.5k	-459,542 -54.1%
33	PTC THERAPEUTICS INC COM PTCT	PTCT	1,440,107	$117.5m0.68%	0.68%	Added +424.3k	+424,335 41.8%
34	LIFE TIME GROUP HOLDINGS INC COMMON STOCK LTH	LTH	2,864,852	$117.0m0.68%	0.68%	Added +2.2m	+2,216,746 342.0%
35	CARDINAL INFRASTRUCTURE GROU CL A CDNL	CDNL	1,208,910	$113.9m0.66%	0.66%	Added +548.4k	+548,396 83.0%
36	MODINE MFG CO COM MOD	MOD	422,646	$112.9m0.65%	0.65%	Reduced -72.1k	-72,088 -14.6%
37	FOMENTO ECONOMICO MEXICANO S SPON ADR UNITS FMX	FMX	877,127	$112.2m0.65%	0.65%	Added +73.9k	+73,874 9.2%
38	NU HLDGS LTD ORD SHS CL A NU	NU	8,314,486	$111.1m0.64%	0.64%	Added +1.0m	+1,026,204 14.1%
39	SAIA INC COM SAIA	SAIA	262,043	$110.4m0.64%	0.64%	Added +4.1k	+4,080 1.6%
40	CADENCE DESIGN SYSTEM INC COM CDNS	CDNS	293,693	$110.2m0.64%	0.64%	New
41	ARROWHEAD PHARMACEUTICALS IN COM ARWR	ARWR	1,350,556	$110.1m0.64%	0.64%	Added +160.2k	+160,221 13.5%
42	VALE S A SPONSORED ADS VALE	VALE	7,236,306	$108.8m0.63%	0.63%	Added +3.6m	+3,568,359 97.3%
43	UNIVERSAL TECHNICAL INST INC COM UTI	UTI	2,499,689	$106.9m0.62%	0.62%	Added +743.1k	+743,138 42.3%
44	SOUTHERN COPPER CORP COM SCCO	SCCO	611,241	$106.5m0.62%	0.62%	Added +287.5k	+287,526 88.8%
45	KYMERA THERAPEUTICS INC COM KYMR	KYMR	919,233	$105.4m0.61%	0.61%	Reduced -124.3k	-124,350 -11.9%
46	TWIST BIOSCIENCE CORP COM TWST	TWST	1,022,526	$105.2m0.61%	0.61%	Added +437.8k	+437,830 74.9%
47	NATERA INC COM NTRA	NTRA	383,872	$104.2m0.60%	0.60%	Added +99.5k	+99,534 35.0%
48	STONEX GROUP INC COM SNEX	SNEX	875,452	$103.7m0.60%	0.60%	Added +13.9k	+13,922 1.6%
49	COHERENT CORP COM COHR	COHR	259,497	$102.4m0.59%	0.59%	Reduced -256.7k	-256,732 -49.7%
50	ESCO TECHNOLOGIES INC COM ESE	ESE	287,995	$100.8m0.58%	0.58%	Added +102.3k	+102,290 55.1%
51	VITA COCO CO INC COM COCO	COCO	1,503,177	$99.4m0.58%	0.58%	Reduced -20.5k	-20,470 -1.3%
52	MACOM TECH SOLUTIONS HLDGS I COM MTSI	MTSI	251,107	$95.5m0.55%	0.55%	Reduced -85.7k	-85,706 -25.4%
53	INDIVIOR PHARMACEUTICALS INC COM INDV	INDV	2,299,054	$94.3m0.55%	0.55%	Added +419.0k	+419,015 22.3%
54	ASTERA LABS INC COM ALAB	ALAB	194,619	$94.0m0.54%	0.54%	New
55	IMAX CORP COM IMAX	IMAX	2,340,475	$93.3m0.54%	0.54%	Added +688.8k	+688,764 41.7%
56	IMMUNOME INC COM IMNM	IMNM	4,346,139	$92.1m0.53%	0.53%	Added +246.2k	+246,238 6.0%
57	AXSOME THERAPEUTICS INC COM AXSM	AXSM	372,474	$91.2m0.53%	0.53%	Added +80.1k	+80,104 27.4%
58	GLAUKOS CORP COM GKOS	GKOS	650,571	$90.9m0.53%	0.53%	Added +162.7k	+162,659 33.3%
59	DIGITALOCEAN HLDGS INC COM DOCN	DOCN	576,956	$90.6m0.53%	0.53%	Added +52.8k	+52,772 10.1%
60	PROTAGONIST THERAPEUTICS INC COM PTGX	PTGX	731,053	$89.6m0.52%	0.52%	Added +10.1k	+10,125 1.4%
61	BANDWIDTH INC COM CL A BAND	BAND	1,388,899	$87.9m0.51%	0.51%	New
62	DYCOM INDS INC COM DY	DY	172,486	$87.2m0.51%	0.51%	Added +35.1k	+35,143 25.6%
63	CIPHER MINING INC COM CIFR	CIFR	3,548,322	$86.9m0.50%	0.50%	New
64	UL SOLUTIONS INC CLASS A COM SHS ULS	ULS	823,352	$83.9m0.49%	0.49%	Added +12.7k	+12,737 1.6%
65	STRUCTURE THERAPEUTICS INC SPONSORED ADS GPCR	GPCR	1,553,219	$83.4m0.48%	0.48%	Reduced -24.1k	-24,137 -1.5%
66	TRAVERE THERAPEUTICS INC COM TVTX	TVTX	1,439,134	$81.8m0.47%	0.47%	Added +156.6k	+156,616 12.2%
67	SEZZLE INC COM SEZL	SEZL	476,026	$81.7m0.47%	0.47%	New
68	SOLV ENERGY INC COM SHS CL A MWH	MWH	2,378,054	$81.0m0.47%	0.47%	Added +1.1m	+1,107,548 87.2%
69	VISTA ENERGY S.A.B. DE C.V. SPONSORED ADS VIST	VIST	1,259,484	$80.4m0.47%	0.47%	Added +7.9k	+7,898 0.6%
70	EOS ENERGY ENTERPRISES INC COM CL A EOSE	EOSE	13,556,010	$79.7m0.46%	0.46%	Reduced -1.3m	-1,313,160 -8.8%
71	DUTCH BROS INC CL A BROS	BROS	1,109,974	$79.7m0.46%	0.46%	New
72	WISDOMTREE INC COM WT	WT	4,702,705	$79.7m0.46%	0.46%	Added +3.1m	+3,058,463 186.0%
73	FLYWIRE CORPORATION COM VTG FLYW	FLYW	4,506,928	$79.2m0.46%	0.46%	New
74	KNIGHT-SWIFT TRANSN HLDGS IN CL A KNX	KNX	1,014,111	$79.0m0.46%	0.46%	Added +49.2k	+49,229 5.1%
75	CAVA GROUP INC COM CAVA	CAVA	996,496	$78.2m0.45%	0.45%	Added +149.8k	+149,758 17.7%
76	CONSTRUCTION PARTNERS INC COM CL A ROAD	ROAD	641,417	$76.2m0.44%	0.44%	Reduced -153.0k	-153,047 -19.3%
77	FTAI AVIATION LTD SHS FTAI	FTAI	278,208	$75.3m0.44%	0.44%	Reduced -301.3k	-301,313 -52.0%
78	FORGENT POWER SOLUTIONS INC COM SHS CL A FPS	FPS	1,334,384	$74.5m0.43%	0.43%	Reduced -49.7k	-49,739 -3.6%
79	JFROG LTD ORD SHS FROG	FROG	804,703	$73.1m0.42%	0.42%	New
80	FLUENCE ENERGY INC COM CL A FLNC	FLNC	3,575,964	$71.1m0.41%	0.41%	New
81	LUMENTUM HLDGS INC COM LITE	LITE	82,768	$71.0m0.41%	0.41%	Reduced -146.2k	-146,227 -63.9%
82	ADVANCED ENERGY INDS COM AEIS	AEIS	184,957	$69.0m0.40%	0.40%	Added +7.9k	+7,939 4.5%
83	MERCADOLIBRE INC COM MELI	MELI	40,135	$68.1m0.39%	0.39%	New
84	SEMTECH CORP COM SMTC	SMTC	419,633	$67.9m0.39%	0.39%	Reduced -208.8k	-208,823 -33.2%
85	ALMONTY INDS INC COM NEW ALM	ALM	4,039,183	$66.9m0.39%	0.39%	Reduced -56.2k	-56,152 -1.4%
86	ALKERMES PLC SHS ALKS	ALKS	1,238,809	$64.9m0.38%	0.38%	Added +446.8k	+446,846 56.4%
87	CAMECO CORP COM CCJ	CCJ	634,006	$64.6m0.37%	0.37%	Reduced -378.6k	-378,594 -37.4%
88	TEREX CORP NEW COM TEX	TEX	889,977	$64.4m0.37%	0.37%	Added +247.6k	+247,554 38.5%
89	MP MATERIALS CORP COM CL A MP	MP	1,148,299	$64.3m0.37%	0.37%	Added +368.8k	+368,831 47.3%
90	GARRETT MOTION INC COM GTX	GTX	1,755,586	$63.6m0.37%	0.37%	Added +530.5k	+530,530 43.3%
91	OPENLANE INC COM OPLN	OPLN	1,515,210	$62.5m0.36%	0.36%	Added +947.0k	+947,011 166.7%
92	COMFORT SYS USA INC COM FIX	FIX	31,499	$62.4m0.36%	0.36%	Reduced -9.6k	-9,606 -23.4%
93	VERACYTE INC COM VCYT	VCYT	1,045,826	$61.4m0.36%	0.36%	New
94	ZURN ELKAY WATER SOLNS CORP COM ZWS	ZWS	1,195,710	$60.4m0.35%	0.35%	Added +298.1k	+298,096 33.2%
95	EVERUS CONSTR GROUP COM ECG	ECG	360,544	$59.8m0.35%	0.35%	Reduced -155.2k	-155,225 -30.1%
96	FIRSTCASH HOLDINGS INC COM FCFS	FCFS	276,029	$59.7m0.35%	0.35%	Added +52.5k	+52,503 23.5%
97	MERCURY SYS INC COM MRCY	MRCY	487,921	$59.7m0.35%	0.35%	Added +193.3k	+193,293 65.6%
98	TOWER SEMICONDUCTOR LTD SHS NEW TSEM	TSEM	225,114	$58.7m0.34%	0.34%	Reduced -101.0k	-100,989 -31.0%
99	MBX BIOSCIENCES INC COM MBX	MBX	1,056,579	$58.3m0.34%	0.34%	Added +38.4k	+38,367 3.8%
100	BANKUNITED INC COM BKU	BKU	1,188,026	$57.6m0.33%	0.33%	Added +269.0k	+268,991 29.3%

Sold out since Q1 2026

Security	Ticker	Shares held before	Value then
NATIONAL VISION HLDGS INC EYE	EYE	3,471,774	$89.9m3.5m shares
YUM CHINA HLDGS INC YUMC	YUMC	1,831,286	$89.3m1.8m shares
BRIDGEBIO PHARMA INC BBIO	BBIO	1,146,671	$85.2m1.1m shares
KARMAN HLDGS INC KRMN	KRMN	977,353	$78.2m977.4k shares
TECHNIPFMC PLC FTI	FTI	1,040,195	$71.9m1.0m shares
CG ONCOLOGY INC CGON	CGON	999,623	$67.7m999.6k shares
FLOWSERVE CORP FLS	FLS	802,581	$59.0m802.6k shares
METHANEX CORP MEOH	MEOH	974,088	$58.0m974.1k shares
CAMTEK LTD CAMT	CAMT	332,148	$50.4m332.1k shares
NUVALENT INC		481,180	$49.3m481.2k shares
TRANSOCEAN LTD RIG	RIG	7,210,869	$47.8m7.2m shares
SITEONE LANDSCAPE SUPPLY INC SITE	SITE	344,819	$45.9m344.8k shares
TRAVEL PLUS LEISURE CO TNL	TNL	638,965	$44.2m639.0k shares
AXON ENTERPRISE INC AXON	AXON	95,057	$40.4m95.1k shares
MARKETAXESS HLDGS INC MKTX	MKTX	239,256	$39.5m239.3k shares
CHORD ENERGY CORPORATION CHRD	CHRD	266,887	$37.9m266.9k shares
BRP INC DOO	DOO	445,762	$32.0m445.8k shares
OSI SYSTEMS INC OSIS	OSIS	117,963	$31.3m118.0k shares
BRINKER INTL INC EAT	EAT	215,492	$30.8m215.5k shares
PERPETUA RESOURCES CORP PPTA	PPTA	1,086,004	$30.5m1.1m shares
AGNICO EAGLE MINES LTD AEM	AEM	141,100	$28.6m141.1k shares
PATTERSON-UTI ENERGY INC PTEN	PTEN	2,559,637	$27.7m2.6m shares
GRIFFON CORP GFF	GFF	349,580	$25.4m349.6k shares
JOHN BEAN TECHNOLOGIES CORP JBTM	JBTM	195,795	$25.0m195.8k shares
ISHARES TR INDA	INDA	531,239	$24.9m531.2k shares

Stakes above 5%

Companies where this manager has reported owning more than 5% of a class of shares, on Schedule 13D (may seek influence) or 13G (passive): its latest filing for each, from 19 Dec 2024 on.

Company	Ticker	Stake	Change	Schedule	Last filed
ANDERSEN GROUP INC ANDG · 13G · filed 2026-08-05	ANDG	10.5%≈ $53.3m	+6.1 pts	13G	2026-08-05
SEPTERNA INC SEPN · 13G · filed 2026-08-14	SEPN	9.8%≈ $148.5m	-0.6 pts	13G	2026-08-14
PALATIN TECHNOLOGIES INC PTN · 13G · filed 2026-02-17	PTN	9.8%≈ $1.8m	new	13G	2026-02-17
FREQUENCY ELECTRS INC FEIM · 13G · filed 2026-08-14	FEIM	7.2%≈ $46.9m	new	13G	2026-08-14
CUE BIOPHARMA INC CUE · 13G · filed 2026-08-14	CUE	7.0%≈ $9.2m	new	13G	2026-08-14
CRINETICS PHARMACEUTICALS IN CRNX · 13G · filed 2026-05-15	CRNX	6.1%≈ $239.3m		13G	2026-05-15
CARDINAL INFRASTRUCTURE GROU CDNL · 13G · filed 2026-08-14	CDNL	6.1%≈ $113.9m	new	13G	2026-08-14
DEFINIUM THERAPEUTICS INC DFTX · 13G · filed 2026-08-14	DFTX	5.4%≈ $322.0m	-1.3 pts	13G	2026-08-14