Grand Canyon Education, Inc.

**Signal Note: Driehaus Biotech Allocation Shift** Note: Grand Canyon Education (LOPE) is an education services company, not a biotech firm—this appears to be a data mismatch or portfolio diversification move outside Driehaus's typical biotech focus. The $15.6M position represents a tactical allocation, but without clarity on the investment thesis, this signal lacks the typical biotech catalyst relevance (clinical data, regulatory decision, M&A) that would warrant sector-specific analysis.