In Q4 2023, Driehaus Capital held 209 positions worth $5.3B. They initiated 40 new positions and exited 178. Their largest holding was XENE ($200.1M). Portfolio value grew +10.9% versus the prior quarter.
Portfolio Value (13F)
$5.3B
Holdings
209
Top 10 Concentration
24.3%
QoQ Change
+10.9%
Turnover
9.0%
Sector Breakdown
Q4 2023 Holdings (209)
| # | Ticker | Company | Change | Value | % of Portfolio | SI % Float ? |
|---|---|---|---|---|---|---|
| 1 | XENE | Xenon Pharmaceuticals Inc. | Decreased | $200.1M | 3.77% | 6.3% |
| 2 | CRNX | Crinetics Pharmaceuticals Inc. | Decreased | $179.3M | 3.38% | 7.3% |
| 3 | CAMT | Camtek Ltd. | Increased | $142.2M | 2.68% | 8.7% |
| 4 | CCJ | Cameco Corp. | Decreased | $137.6M | 2.59% | — |
| 5 | IBN | Icici Bank Ltd. | Decreased | $123.4M | 2.33% | 1.1% |
| 6 | GPCR | Structure Therapeutics Inc. | Increased | $105.9M | 2.00% | 14.5% |
| 7 | PCVX | Vaxcyte Inc. | Increased | $105.2M | 1.98% | 11.7% |
| 8 | FTAIN | FTAI Aviation Ltd. | Increased | $99.7M | 1.88% | — |
| 9 | BRBR | Bellring Brands, Inc. | Increased | $99.4M | 1.87% | 12.1% |
| 10 | APLD | Applied Digital Corp. | Increased | $95.8M | 1.80% | 20.5% |
| 11 | AXON | Axon Enterprise, Inc. | Increased | $88.7M | 1.67% | 5.7% |
| 12 | SAIA | Saia Inc. | Increased | $88.3M | 1.66% | 4.5% |
| 13 | ONTO | Onto Innovation Inc. | Increased | $87.1M | 1.64% | 7.7% |
| 14 | TMDXOther Healthcare | TransMedics Group, Inc. | Increased | $86.1M | 1.62% | 38.4% |
| 15 | MNDY | monday.com Ltd. | Decreased | $81.1M | 1.53% | 14.6% |
| 16 | WT | WisdomTree, Inc. | $79.0M | 1.49% | 17.6% | |
| 17 | ELF | e.l.f. Beauty, Inc. | Decreased | $77.3M | 1.46% | 8.2% |
| 18 | GTLB | Gitlab Inc. | Increased | $72.2M | 1.36% | 8.3% |
| 19 | ATI | Ati Inc. | Decreased | $70.4M | 1.33% | 5.3% |
| 20 | NUVL | Nuvalent Inc. | Decreased | $69.0M | 1.30% | 6.2% |
| 21 | FN | Fabrinet | Increased | $64.4M | 1.21% | 6.1% |
| 22 | UEC | Uranium Energy Corp. | Increased | $57.5M | 1.08% | 14.8% |
| 23 | MOD | Modine Manufacturing CO | Increased | $56.9M | 1.07% | 6.0% |
| 24 | DUOL | Duolingo, Inc. | Increased | $53.0M | 1.00% | 20.4% |
| 25 | RMBS | Rambus Inc. | Increased | $52.7M | 0.99% | 6.0% |
| 26 | STRL | Sterling Infrastructure, Inc. | Increased | $51.9M | 0.98% | 4.4% |
| 27 | SOJF | Southern CO | Increased | $48.9M | 0.92% | — |
| 28 | MELI | Mercadolibre Inc. | Decreased | $47.8M | 0.90% | 1.8% |
| 29 | GKOSOther Healthcare | Glaukos Corporation | Increased | $46.8M | 0.88% | 7.9% |
| 30 | AGYS | Agilysys Inc. | Decreased | $44.9M | 0.85% | 7.4% |
| 31 | NTRA | Natera Inc. | Held | $44.2M | 0.83% | 4.5% |
| 32 | TTI | Tetra Technologies Inc. | Increased | $44.2M | 0.83% | 8.0% |
| 33 | EVR | Evercore Inc. | Increased | $42.6M | 0.80% | 3.2% |
| 34 | FTI | TechnipFMC plc | Decreased | $42.1M | 0.79% | 3.5% |
| 35 | GLOB | Globant S.A. | Increased | $41.7M | 0.79% | 28.3% |
| 36 | INSPOther Healthcare | Inspire Medical Systems, Inc. | Increased | $41.1M | 0.77% | 19.0% |
| 37 | FIX | Comfort Systems Usa Inc. | Decreased | $39.7M | 0.75% | 2.8% |
| 38 | CUBB | Customers Bancorp, Inc. | New | $39.5M | 0.74% | — |
| 39 | ATECOther Healthcare | Alphatec Holdings, Inc. | Increased | $39.4M | 0.74% | 10.5% |
| 40 | HCIIP | HCI Group, Inc. | New | $38.9M | 0.73% | — |
| 41 | SNPS | Synopsys Inc. | Decreased | $38.7M | 0.73% | 2.6% |
| 42 | SKWD | Skyward Specialty Insurance Group, Inc. | Increased | $37.8M | 0.71% | 4.8% |
| 43 | SPXC | SPX Technologies, Inc. | Decreased | $37.8M | 0.71% | 4.2% |
| 44 | ESTC | Elastic N.V. | New | $37.2M | 0.70% | 5.2% |
| 45 | APGE | Apogee Therapeutics Inc. | Held | $37.1M | 0.70% | 7.3% |
| 46 | CELH | Celsius Holdings, Inc. | Increased | $37.0M | 0.70% | 12.4% |
| 47 | DRS | Leonardo DRS, Inc. | New | $36.0M | 0.68% | 1.2% |
| 48 | IBP | Installed Building Products, Inc. | Decreased | $34.6M | 0.65% | 7.9% |
| 49 | CRS | Carpenter Technology Corp. | Increased | $33.9M | 0.64% | 3.0% |
| 50 | AMD | Advanced Micro Devices Inc. | Increased | $33.8M | 0.64% | 2.4% |
| 51 | IDYA | IDEAYA Biosciences Inc. | Increased | $32.5M | 0.61% | 11.1% |
| 52 | BCC | Boise Cascade Co | New | $32.2M | 0.61% | 6.7% |
| 53 | DECK | Deckers Outdoor Corp. | Decreased | $30.2M | 0.57% | 9.7% |
| 54 | CPA | Copa Holdings, S.A. | Increased | $30.0M | 0.57% | 5.2% |
| 55 | GTLS | Chart Industries Inc. | Decreased | $29.9M | 0.56% | 10.9% |
| 56 | SFM | Sprouts Farmers Market, Inc. | New | $29.8M | 0.56% | 18.7% |
| 57 | TRPCF | Trip.com Group Ltd. | Decreased | $29.8M | 0.56% | — |
| 58 | MDB | MongoDB, Inc. | Decreased | $29.4M | 0.55% | 3.6% |
| 59 | BLDR | Builders FirstSource, Inc. | Increased | $29.4M | 0.55% | 10.2% |
| 60 | MTH | Meritage Homes Corp. | Increased | $29.3M | 0.55% | 9.0% |
| 61 | BROS | Dutch Bros Inc. | New | $28.9M | 0.54% | 50.5% |
| 62 | APLS | Apellis Pharmaceuticals Inc. | Increased | $28.8M | 0.54% | 12.6% |
| 63 | ENVX | Enovix Corp. | Decreased | $28.5M | 0.54% | 27.1% |
| 64 | GDEN | Golden Entertainment, Inc. | Decreased | $27.9M | 0.53% | 4.0% |
| 65 | RYTM | Rhythm Pharmaceuticals Inc. | Increased | $27.5M | 0.52% | 15.8% |
| 66 | OSW | Onespaworld Holdings Ltd. | Decreased | $26.4M | 0.50% | 7.0% |
| 67 | VRT | Vertiv Holdings Co | Increased | $26.3M | 0.50% | 3.7% |
| 68 | LRN | Stride, Inc. | Increased | $25.9M | 0.49% | 27.5% |
| 69 | SMMT | Summit Therapeutics Inc. | Increased | $24.8M | 0.47% | 26.3% |
| 70 | KRYS | Krystal Biotech Inc. | Decreased | $24.4M | 0.46% | 19.2% |
| 71 | CR | Crane Co | New | $24.3M | 0.46% | 2.5% |
| 72 | WFRD | Weatherford International plc | Decreased | $24.0M | 0.45% | 6.6% |
| 73 | DT | Dynatrace, Inc. | Increased | $23.9M | 0.45% | 5.7% |
| 74 | VSOGF | Vista Energy, S.A.B. de C.V. | Increased | $23.6M | 0.45% | — |
| 75 | AXP | American Express CO | Increased | $23.1M | 0.44% | 2.1% |
| 76 | ARLO | Arlo Technologies, Inc. | Increased | $22.7M | 0.43% | 13.7% |
| 77 | DVAX | Dynavax Technologies Corporation | Decreased | $22.4M | 0.42% | 13.2% |
| 78 | FRSH | Freshworks Inc. | Increased | $22.0M | 0.41% | 10.9% |
| 79 | CVNA | Carvana CO. | Increased | $21.8M | 0.41% | 12.6% |
| 80 | RXSTOther Healthcare | RxSight Inc. | Decreased | $21.3M | 0.40% | 10.4% |
| 81 | AXSM | Axsome Therapeutics Inc. | Increased | $21.2M | 0.40% | 9.8% |
| 82 | ANET | Arista Networks, Inc. | Decreased | $21.0M | 0.40% | 1.1% |
| 83 | VECO | Veeco Instruments Inc. | New | $20.7M | 0.39% | 16.2% |
| 84 | LIN | Linde Plc | Increased | $20.5M | 0.39% | 1.3% |
| 85 | WSC | WillScot Holdings Corp. | Decreased | $20.2M | 0.38% | 12.2% |
| 86 | TDGMW | Tidewater Inc. | Decreased | $20.2M | 0.38% | — |
| 87 | CBAY | CymaBay Therapeutics Inc. | New | $19.9M | 0.37% | — |
| 88 | CAVA | Cava Group, Inc. | Increased | $19.1M | 0.36% | 14.4% |
| 89 | BLBD | Blue Bird Corp. | Increased | $19.1M | 0.36% | 16.6% |
| 90 | EMBJ | Embraer S.A. | Decreased | $19.0M | 0.36% | 1.1% |
| 91 | IPSC | Century Therapeutics, Inc. | Increased | $19.0M | 0.36% | 16.3% |
| 92 | CYTK | Cytokinetics Incorporated | Increased | $18.4M | 0.35% | 21.2% |
| 93 | HWM | Howmet Aerospace Inc. | Decreased | $18.3M | 0.34% | 2.6% |
| 94 | IRWD | Ironwood Pharmaceuticals Inc. | Held | $18.1M | 0.34% | 10.3% |
| 95 | RARE | Ultragenyx Pharmaceutical Inc. | Increased | $17.2M | 0.32% | 21.4% |
| 96 | BMEA | Biomea Fusion Inc. | Increased | $17.2M | 0.32% | 23.7% |
| 97 | ROAD | Construction Partners, Inc. | New | $17.0M | 0.32% | 6.7% |
| 98 | ARGX | argenx SE | Increased | $17.0M | 0.32% | 2.2% |
| 99 | MRCY | Mercury Systems Inc. | New | $16.9M | 0.32% | 9.5% |
| 100 | SITE | SiteOne Landscape Supply, Inc. | Decreased | $16.6M | 0.31% | 10.0% |
| 101 | SYRE | Spyre Therapeutics, Inc. | Decreased | $16.6M | 0.31% | 15.4% |
| 102 | RELY | Remitly Global, Inc. | Decreased | $16.5M | 0.31% | 10.0% |
| 103 | BLFY | Blue Foundry Bancorp | Increased | $16.4M | 0.31% | 3.8% |
| 104 | NTNX | Nutanix, Inc. | Increased | $16.4M | 0.31% | 6.0% |
| 105 | CRDO | Credo Technology Group Holding Ltd. | Increased | $16.1M | 0.30% | 6.7% |
| 106 | BHVN | Biohaven Pharmaceutical Holding | Increased | $16.1M | 0.30% | 16.1% |
| 107 | HLI | Houlihan Lokey, Inc. | Increased | $15.8M | 0.30% | 4.4% |
| 108 | FICO | Fair Isaac Corp. | Decreased | $15.8M | 0.30% | 12.5% |
| 109 | KNF | Knife River Corp. | Decreased | $15.7M | 0.30% | 10.2% |
| 110 | GGAL | Grupo Financiero Galicia SA | Increased | $15.7M | 0.30% | 18.9% |
| 111 | PRCTOther Healthcare | PROCEPT BioRobotics Corp. | Increased | $15.5M | 0.29% | 13.3% |
| 112 | ALKT | Alkami Technology, Inc. | Increased | $15.5M | 0.29% | 8.9% |
| 113 | LOPE | Grand Canyon Education, Inc. | New | $15.5M | 0.29% | 9.0% |
| 114 | NBIX | Neurocrine Biosciences Inc. | Decreased | $15.4M | 0.29% | 7.5% |
| 115 | HURN | Huron Consulting Group Inc. | Decreased | $15.0M | 0.28% | 5.3% |
| 116 | ADMA | ADMA Biologics Inc. | Decreased | $14.8M | 0.28% | 11.3% |
| 117 | AVAV | AeroVironment Inc. | New | $14.3M | 0.27% | 12.8% |
| 118 | LEGN | Legend Biotech Corporation | Increased | $14.1M | 0.27% | 19.9% |
| 119 | FSLY | Fastly, Inc. | Decreased | $13.7M | 0.26% | 15.5% |
| 120 | EVER | EverQuote, Inc. | Increased | $13.7M | 0.26% | 29.6% |
| 121 | AAON | Aaon, Inc. | Decreased | $13.3M | 0.25% | 8.2% |
| 122 | WRBY | Warby Parker Inc. | New | $13.2M | 0.25% | 20.9% |
| 123 | GBX | Greenbrier Companies Inc. | New | $13.1M | 0.25% | 12.7% |
| 124 | FHN-PH | First Horizon Corp. | Decreased | $12.9M | 0.24% | — |
| 125 | GENI | Genius Sports Ltd. | Increased | $12.7M | 0.24% | 15.5% |
| 126 | NEO | Neogenomics Inc. | Increased | $12.6M | 0.24% | 13.0% |
| 127 | KALV | KalVista Pharmaceuticals, Inc. | Held | $12.6M | 0.24% | 14.4% |
| 128 | HALO | Halozyme Therapeutics Inc. | Decreased | $12.3M | 0.23% | 17.7% |
| 129 | PRIM | Primoris Services Corp. | Decreased | $11.8M | 0.22% | 12.8% |
| 130 | GDYN | Grid Dynamics Holdings, Inc. | Increased | $11.7M | 0.22% | 7.4% |
| 131 | KNSA | Kiniksa Pharmaceuticals International, plc | Increased | $11.6M | 0.22% | 9.4% |
| 132 | VCYT | Veracyte, Inc. | Decreased | $11.3M | 0.21% | 15.0% |
| 133 | BLD | TopBuild Corp. | Increased | $11.2M | 0.21% | 8.3% |
| 134 | INCY | Incyte Corporation | New | $11.0M | 0.21% | 8.4% |
| 135 | HLMN | Hillman Solutions Corp. | $10.6M | 0.20% | 2.8% | |
| 136 | PWR | Quanta Services, Inc. | Decreased | $10.1M | 0.19% | 2.4% |
| 137 | HDB | Hdfc Bank Ltd. | Decreased | $10.1M | 0.19% | 0.7% |
| 138 | GAMB | Gambling.com Group Ltd. | Decreased | $9.7M | 0.18% | 4.5% |
| 139 | LOB-PA | Live Oak Bancshares, Inc. | New | $9.4M | 0.18% | — |
| 140 | QNST | Quinstreet, Inc. | New | $9.1M | 0.17% | 13.6% |
| 141 | PENOther Healthcare | Penumbra Inc. | Held | $8.7M | 0.16% | 6.6% |
| 142 | PODDOther Healthcare | Insulet Corp. | Increased | $8.6M | 0.16% | 8.7% |
| 143 | NVT | nVent Electric plc | Decreased | $7.9M | 0.15% | 3.4% |
| 144 | PLMR | Palomar Holdings, Inc. | New | $7.9M | 0.15% | 3.4% |
| 145 | EXAS | Exact Sciences Corporation | Held | $7.6M | 0.14% | 3.9% |
| 146 | CECO | Ceco Environmental Corp. | New | $7.6M | 0.14% | 3.7% |
| 147 | ALNY | Alnylam Pharmaceuticals Inc. | Held | $7.5M | 0.14% | 7.7% |
| 148 | NHC | National Healthcare Corp. | New | $7.4M | 0.14% | 6.4% |
| 149 | MCW | Mister Car Wash, Inc. | New | $7.4M | 0.14% | 10.3% |
| 150 | TERN | Terns Pharmaceuticals Inc. | Decreased | $7.3M | 0.14% | 7.0% |
| 151 | AVGO | Broadcom Inc. | Increased | $7.3M | 0.14% | 1.2% |
| 152 | CLS | Celestica Inc. | Decreased | $7.3M | 0.14% | 3.5% |
| 153 | DAWN | Day One Biopharmaceuticals Inc. | Decreased | $7.1M | 0.13% | 7.5% |
| 154 | GXO | GXO Logistics, Inc. | Decreased | $7.0M | 0.13% | 7.3% |
| 155 | LBRT | Liberty Energy Inc. | Increased | $6.8M | 0.13% | 14.9% |
| 156 | RLAY | Relay Therapeutics Inc. | $6.5M | 0.12% | 24.8% | |
| 157 | LMATOther Healthcare | Lemaitre Vascular Inc. | Decreased | $5.5M | 0.10% | 9.6% |
| 158 | HYAC-WT | Haymaker Acquisition Corp. 4 | $5.1M | 0.10% | — | |
| 159 | SWTX | SpringWorks Therapeutics Inc. | Decreased | $5.0M | 0.09% | — |
| 160 | PTGX | Protagonist Therapeutics Inc. | New | $4.6M | 0.09% | 16.8% |
| 161 | LAUR | Laureate Education, Inc. | New | $4.3M | 0.08% | 3.9% |
| 162 | EWTX | Edgewise Therapeutics, Inc. | New | $4.3M | 0.08% | 14.6% |
| 163 | MSFT | Microsoft Corp. | Increased | $4.1M | 0.08% | 0.8% |
| 164 | ATXS | Astria Therapeutics Inc. | Decreased | $3.3M | 0.06% | — |
| 165 | TGTX | TG Therapeutics Inc. | Increased | $3.2M | 0.06% | 28.9% |
| 166 | WVE | Wave Life Sciences Ltd. | New | $3.0M | 0.06% | 11.6% |
| 167 | TYRA | Tyra Biosciences, Inc. | Increased | $2.8M | 0.05% | 22.7% |
| 168 | AAPL | Apple Inc. | Increased | $2.5M | 0.05% | 0.8% |
| 169 | CNTA | Centessa Pharmaceuticals plc | New | $2.3M | 0.04% | 1.2% |
| 170 | FHTX | Foghorn Therapeutics Inc. | $2.2M | 0.04% | 6.6% | |
| 171 | CLYM | Climb Bio, Inc. | $2.2M | 0.04% | 23.9% | |
| 172 | GOOG | Alphabet Inc. | Increased | $2.0M | 0.04% | — |
| 173 | BRCB | Black Rock Coffee Bar, Inc. | $2.0M | 0.04% | 9.7% | |
| 174 | NVDA | Nvidia Corp. | Increased | $1.9M | 0.03% | 1.3% |
| 175 | MLYS | Mineralys Therapeutics, Inc. | Decreased | $1.8M | 0.03% | 10.6% |
| 176 | MMYT | MakeMyTrip Ltd. | Decreased | $1.3M | 0.03% | 14.2% |
| 177 | ORIC | ORIC Pharmaceuticals Inc. | $1.3M | 0.02% | 15.9% | |
| 178 | XOM | Exxon Mobil Corp. | Decreased | $1.2M | 0.02% | 1.1% |
| 179 | YUMC | Yum China Holdings, Inc. | Decreased | $1.1M | 0.02% | 1.8% |
| 180 | UBER | Uber Technologies, Inc. | Decreased | $1.1M | 0.02% | 2.5% |
| 181 | VERA | Vera Therapeutics Inc. | $1.1M | 0.02% | 27.2% | |
| 182 | ROP | Roper Technologies Inc. | Increased | $983K | 0.02% | 5.3% |
| 183 | ARWR | Arrowhead Pharmaceuticals Inc. | $902K | 0.02% | 10.6% | |
| 184 | VRTX | Vertex Pharmaceuticals Inc. | Increased | $866K | 0.02% | 2.0% |
| 185 | NOW | ServiceNow, Inc. | $803K | 0.02% | 2.9% | |
| 186 | GLD | Spdr Gold Trust | Increased | $720K | 0.01% | — |
| 187 | SPOT | Spotify Technology S.A. | New | $693K | 0.01% | 2.7% |
| 188 | SCHW-PJ | Schwab Charles Corp. | New | $557K | 0.01% | — |
| 189 | KOS | Kosmos Energy Ltd. | New | $532K | 0.01% | 5.8% |
| 190 | MSI | Motorola Solutions, Inc. | New | $524K | 0.01% | 2.3% |
| 191 | PANW | Palo Alto Networks Inc. | Increased | $518K | 0.01% | 2.7% |
| 192 | SHOP | Shopify Inc. | New | $471K | 0.01% | 1.7% |
| 193 | UNHOther Healthcare | Unitedhealth Group Inc. | Decreased | $470K | 0.01% | 2.0% |
| 194 | GLPGF | Galapagos NV | $457K | 0.01% | — | |
| 195 | LNG | Cheniere Energy, Inc. | New | $385K | 0.01% | 2.3% |
| 196 | LLY | Eli Lilly & Co | $352K | 0.01% | 0.8% | |
| 197 | STAG | STAG Industrial, Inc. | New | $307K | 0.01% | 5.3% |
| 198 | AZN | Astrazeneca Plc | Decreased | $306K | 0.01% | 0.2% |
| 199 | ETN | Eaton Corp plc | Decreased | $303K | 0.01% | 2.1% |
| 200 | BA-PA | Boeing CO | Decreased | $275K | 0.01% | — |
| 201 | VMC | Vulcan Materials CO | New | $269K | 0.01% | 4.7% |
| 202 | AMGN | Amgen Inc. | New | $253K | 0.00% | 2.6% |
| 203 | TMOOther Healthcare | Thermo Fisher Scientific Inc. | Increased | $227K | 0.00% | 1.5% |
| 204 | PLDGP | Prologis, Inc. | Decreased | $223K | 0.00% | — |
| 205 | MEDPOther Healthcare | Medpace Holdings Inc. | New | $217K | 0.00% | 7.1% |
| 206 | ANNX | Annexon Biosciences Inc. | $208K | 0.00% | 17.9% | |
| 207 | GILD | Gilead Sciences Inc. | New | $204K | 0.00% | 1.8% |
| 208 | KLAC | Kla Corp. | Increased | $203K | 0.00% | 2.1% |
| 209 | CAHOther Healthcare | Cardinal Health Inc. | New | $202K | 0.00% | 3.7% |
Top Movers This Quarter
Share changes reflect active decisions. Value changes include price moves.
Frequently asked questions
What stocks did Driehaus Capital own in Q4 2023?
Driehaus Capital held 209 biotech stocks in their 13F portfolio in Q4 2023. Their top positions include XENE, CRNX, CAMT, CCJ, IBN. The full holdings table is available on BiotechEdge with position sizes, quarter-over-quarter changes, and AI analysis.
How much was Driehaus Capital's portfolio worth in Q4 2023?
Driehaus Capital's tracked biotech portfolio was worth $5.3B across 209 positions, with total assets under management of approximately $28B. Portfolio values are based on 13F filings with the SEC.
What did Driehaus Capital buy in Q4 2023?
Driehaus Capital initiated 40 new positions in Q4 2023, including CUBB, HCIIP, ESTC, DRS, BCC and 35 more. They also increased 82 existing positions.
What did Driehaus Capital sell in Q4 2023?
Driehaus Capital fully exited 178 positions in Q4 2023, including XPEL, WING, WCC, WNC, VTS and 173 more. They also trimmed 73 existing positions.
Is Driehaus Capital a biotech fund?
Growth-oriented investment firm founded by Richard Driehaus (d. 2021), now led by CEO Steve Weber. Michael Caldwell manages the healthcare/life sciences portfolio, applying growth-at-a-reasonable-price philosophy to biotech with a focus on companies with accelerating revenue growth and approaching commercial inflection points.
Want AI analysis, insider signals, and catalyst overlays for Driehaus Capital?
View latest Driehaus Capital portfolio →