Driehaus Capital Management LLC

In its 13F for Q4 2025 (holdings as of December 31, 2025, filed February 17, 2026), Driehaus Capital Management LLC reported 385 stock positions worth $14.7 billion. Its top holding was Taiwan Semiconductor-SP ADR (TSM) at 4.5% of the portfolio, followed by Crinetics Pharmaceuticals (CRNX, 2.0%) and Praxis Precision Medicines I (PRAX, 1.9%). Compared with Q3 2025, it opened 77 new positions, sold out of 110, added to 135 and reduced 150. The biggest buy was Praxis Precision Medicines I (PRAX, shares +86%) and the biggest sale Astera Labs (ALAB, shares −100%).

Most Recent 13F
Q2 2026
Location
Chicago, IL
CIK
0000938206
Portfolio Value
$14.7B (Q4 2025)
SEC Filing
0000938206-26-000018 ↗ filed Feb 17, 2026

Holdings Value

0$5.0B$10.0B$15.0B$20.0B Q1 2024: $10.0B Q1 2024 Q2 2024: $10.3B Q2 2024 Q3 2024: $11.6B Q3 2024 Q4 2024: $12.1B Q4 2024 Q1 2025: $10.4B Q1 2025 Q2 2025: $12.5B Q2 2025 Q3 2025: $14.0B Q3 2025 Q4 2025: $14.7B $14.7B Q4 2025 Q1 2026: $13.6B Q1 2026 Q2 2026: $17.3B Q2 2026

Holdings 385 stocks · $14.7B

TSM Taiwan Semiconductor-SP ADR 4.47% 2,163,564 $657.5M Reduce -3.6%
CRNX Crinetics Pharmaceuticals Inc. 2.02% 6,387,740 $297.3M Reduce -1.4%
PRAX Praxis Precision Medicines I 1.87% 933,061 $275.0M Add +86.4%
GH Guardant Health Inc. 1.49% 2,143,193 $218.9M Reduce -0.4%
XENE Xenon Pharmaceuticals Inc. 1.38% 4,538,691 $203.4M Add +8.9%
PL Planet Labs PBC 1.14% 8,511,620 $167.8M Reduce -40.8%
APGE Apogee Therapeutics Inc. 1.12% 2,183,704 $164.8M Add +1.2%
EOSE Eos Energy Enterprises Inc. 1.11% 14,270,294 $163.5M Add +117.3%
SITM Sitime Corp. 0.99% 412,873 $145.8M Reduce -28.2%
NTRA Natera Inc. 0.97% 625,912 $143.4M Add +6.8%
CCJ Cameco Corp. 0.95% 1,522,638 $139.3M Reduce -12.9%
FTAI Ftai Aviation Ltd. 0.94% 700,525 $137.9M Add +6.9%
RYTM Rhythm Pharmaceuticals Inc. 0.93% 1,285,222 $137.6M Reduce -7.1%
HDB HDFC Bank Ltd.-ADR 0.92% 3,722,331 $136.0M Add +16.1%
BAP Credicorp Ltd. 0.92% 472,044 $135.5M Add +6.8%
SEPN Septerna Inc. 0.91% 4,809,470 $134.1M Reduce -2.2%
NU Nu Holdings Ltd./Cayman Isl-A filed as NU HLDGS LTD 0.88% 7,706,057 $129.0M Add +91.8%
BBIO Bridgebio Pharma Inc. 0.87% 1,680,972 $128.6M Add +1.1%
PI Impinj Inc. 0.87% 737,474 $128.3M Add +43.3%
CRS Carpenter Technology 0.86% 403,296 $127.0M Add +47.2%
CW Curtiss-Wright Corp. 0.86% 229,703 $126.6M Reduce -14.6%
LITE Lumentum Holdings Inc. 0.85% 341,048 $125.7M Reduce -43.8%
IBN Icici Bank Ltd.-Spon ADR 0.82% 4,063,452 $121.1M Reduce -24.2%
IDCC Interdigital Inc. 0.81% 375,174 $119.4M Add +13.6%
XMTR Xometry Inc. Class A 0.80% 1,985,865 $118.1M Add +32.6%
ARWR Arrowhead Pharmaceuticals Inc. 0.80% 1,769,340 $117.5M Reduce -15.7%
GPCR Structure Therapeutics Inc. 0.78% 1,642,444 $114.2M Add +88.0%
WVE Wave Life Sciences Ltd. 0.76% 6,581,067 $111.9M Add +4.5%
FN Fabrinet 0.75% 240,978 $109.7M Reduce -35.5%
WFRD Weatherford International PL 0.74% 1,384,142 $108.3M Add +43.6%
UEC Uranium Energy Corp. 0.72% 9,112,072 $106.4M Reduce -4.0%
EWTX Edgewise Therapeutics Inc. 0.71% 4,191,193 $104.0M Add +88.1%
EMBJ Embraer SA-Spon ADR 0.70% 1,590,028 $102.4M Add +71.2%
KRMN Karman Holdings Inc. 0.67% 1,355,169 $99.2M Reduce -12.8%
PTGX Protagonist Therapeutics Inc. 0.65% 1,099,170 $96.0M Reduce -3.6%
TARS Tarsus Pharmaceuticals Inc. 0.65% 1,172,427 $96.0M Add +13.7%
CVNA Carvana Co. 0.65% 226,963 $95.8M Reduce -28.6%
SYRE Spyre Therapeutics Inc. 0.64% 2,882,420 $94.4M Add +39.9%
CR Crane Co. 0.63% 505,668 $93.3M Reduce -6.1%
EYE National Vision Holdings Inc. 0.63% 3,606,811 $93.1M Add +59.9%
VSEC Vse Corp. 0.61% 520,237 $89.9M Add +54.1%
RMBS Rambus Inc. 0.60% 954,164 $87.7M New
DFTX Definium Therapeutics Inc. 0.59% 6,537,202 $87.5M New
TMDX Transmedics Group Inc. 0.59% 712,041 $86.6M Reduce -3.5%
PTCT PTC Therapeutics Inc. 0.59% 1,136,188 $86.3M Add +0.4%
SRRK Scholar Rock Holding Corp. 0.58% 1,952,877 $86.0M Reduce -3.5%
SPXC SPX Technologies Inc. 0.58% 429,764 $86.0M Add +56.1%
ITUB Itau Unibanco H-Spon PRF ADR 0.58% 11,857,114 $84.9M Add +12.0%
KYMR Kymera Therapeutics Inc. 0.57% 1,069,238 $83.2M Add +13.9%
COHR Coherent Corp. 0.56% 447,945 $82.7M Add +2.1%
MTSI Macom Technology Solutions H 0.56% 482,051 $82.6M Add +28.6%
CPA Copa Holdings SA Class A 0.55% 670,657 $80.9M Add +2.5%
IMNM Immunome Inc. 0.54% 3,705,974 $79.6M Add +432.1%
AXON Axon Enterprise Inc. 0.53% 136,364 $77.4M Reduce -17.4%
AVAV Aerovironment Inc. 0.53% 319,833 $77.4M Reduce -4.3%
TCOM Trip.com Group Ltd.-ADR 0.52% 1,072,741 $77.1M Add +5.0%
RSI Rush Street Interactive Inc. 0.51% 3,889,159 $75.6M Reduce -3.6%
VALE Vale SA-SP ADR 0.51% 5,780,150 $75.3M Reduce -29.4%
ROAD Construction Partners Inc. Class A 0.51% 693,594 $75.3M Reduce -22.4%
REAL The Realreal Inc. filed as THE REALREAL INC 0.51% 4,754,440 $75.0M Add +53.6%
ARQT Arcutis Biotherapeutics Inc. 0.51% 2,562,445 $74.4M Add +133.6%
INDV Indivior Pharmaceuticals Inc. 0.49% 2,000,339 $71.8M New
PAY Paymentus Holdings Inc. Class A 0.48% 2,239,138 $70.7M Reduce -9.3%
SCCO Southern Copper Corp. 0.47% 486,393 $69.8M Reduce -35.0%
NXT Nextpower Inc. 0.47% 799,738 $69.7M Add +74.4%
SMTC Semtech Corp. 0.47% 931,305 $68.6M Add +108.3%
FMX Fomento Economico Mex-SP ADR 0.46% 672,848 $68.0M New
FLS Flowserve Corp. 0.46% 977,589 $67.8M Reduce -8.0%
WULF Terawulf Inc. 0.46% 5,864,195 $67.4M Reduce -34.9%
GGAL Grupo Financiero Galicia-ADR 0.45% 1,236,833 $66.7M Add +31.5%
HAPN Happen Inc. filed as LENDINGCLUB CORP 0.45% 3,519,350 $66.7M Reduce -3.5%
HCI Hci Group Inc. 0.45% 346,329 $66.4M Reduce -19.6%
MDGL Madrigal Pharmaceuticals Inc. 0.44% 111,666 $65.0M Reduce -3.7%
ULS Ul Solutions Inc. Class A 0.44% 817,581 $64.5M Add +191.9%
MOD Modine Manufacturing Co. 0.44% 480,392 $64.1M Reduce -28.6%
BOOT Boot Barn Holdings Inc. 0.43% 360,278 $63.6M Reduce -23.9%
FTI Technipfmc PLC 0.42% 1,384,997 $61.7M Reduce -12.2%
PAAS Pan American Silver Corp. 0.42% 1,188,932 $61.6M Reduce -41.3%
ATEC Alphatec Holdings Inc. 0.41% 2,858,771 $60.1M Add +102.8%
OSIS Osi Systems Inc. 0.41% 235,768 $60.1M Add +60.3%
TNL Travel + Leisure Co. 0.41% 847,346 $59.8M Add +52.2%
STRL Sterling Infrastructure Inc. 0.40% 194,539 $59.6M Reduce -45.6%
LEU Centrus Energy Corp. Class A 0.40% 244,344 $59.3M Reduce -32.0%
DAVE Dave Inc. 0.39% 257,437 $57.0M Reduce -16.1%
SEI Solaris Energy Infrastructur 0.38% 1,227,721 $56.4M Add +27.7%
CUBI Customers Bancorp Inc. 0.38% 766,207 $56.0M Add +79.8%
CRDO Credo Technology Group Holdi 0.38% 383,696 $55.2M Reduce -56.3%
ONTO Onto Innovation Inc. 0.37% 349,014 $55.1M Add +247.4%
GRAB Grab Holdings Ltd. Class A 0.37% 11,003,892 $54.9M Add +42.9%
IAG Iamgold Corp. 0.37% 3,274,437 $54.0M Add +13.4%
MIR Mirion Technologies Inc. 0.37% 2,299,122 $53.8M Add +15.7%
IBP Installed Building Products 0.37% 207,279 $53.8M Reduce -9.3%
COCO The Vita Coco Co. Inc. 0.37% 1,014,236 $53.8M Add +61.9%
ORA Ormat Technologies Inc. 0.36% 473,770 $52.3M Add +226.4%
TPB Turning Point Brands Inc. 0.35% 481,834 $52.2M Add +19.0%
PIPR Piper Sandler Cos 0.35% 152,006 $51.6M Add +86.5%
SQM Quimica Y Minera Chil-SP ADR filed as SOCIEDAD QUIMICA Y MINERA DE 0.35% 747,890 $51.5M New
WGS Genedx Holdings Corp. 0.35% 395,323 $51.4M Reduce -3.6%
ECG Everus Construction Group 0.35% 593,905 $50.8M Reduce -8.3%
MYRG MYR Group Inc./Delaware 0.34% 228,655 $50.0M Add +9.5%
NUVL Nuvalent Inc. Class A 0.33% 483,504 $48.6M Add +123.3%
BROS Dutch Bros Inc. Class A 0.33% 790,451 $48.4M Add +6.3%
SAIA Saia Inc. 0.32% 146,485 $47.8M New
IRTC Irhythm Holdings Inc. 0.32% 267,968 $47.5M Add +22.7%
SE Sea Ltd.-ADR 0.32% 371,261 $47.4M Add +142.8%
CLS Celestica Inc. 0.32% 159,795 $47.2M Reduce -49.8%
DY Dycom Industries Inc. 0.32% 138,229 $46.7M Reduce -3.8%
SNEX Stonex Group Inc. 0.31% 483,833 $46.0M Add +14.2%
ALH Alliance Laundry Holdings Inc. 0.30% 2,206,046 $44.9M New
ADPT Adaptive Biotechnologies 0.30% 2,760,387 $44.8M Reduce -8.6%
BE Bloom Energy Corp. Class A 0.30% 515,481 $44.8M Reduce -52.6%
MBX MBX Biosciences Inc. 0.30% 1,408,159 $44.4M Reduce -8.5%
ESE Esco Technologies Inc. 0.30% 225,441 $44.0M Reduce -3.8%
THO Thor Industries Inc. 0.30% 427,944 $43.9M Reduce -0.5%
GLOB Globant SA 0.30% 665,035 $43.5M New
JBTM JBT Marel Corp. 0.29% 287,304 $43.3M Reduce -16.4%
TER Teradyne Inc. 0.29% 221,054 $42.8M New
PWR Quanta Services Inc. 0.29% 101,138 $42.7M Reduce -17.3%
SGI Somnigroup International Inc. 0.28% 460,525 $41.1M Add +173.5%
COMP Compass Inc. Class A 0.28% 3,864,996 $40.9M New
DOO BRP Inc./Ca- Sub Voting 0.28% 575,366 $40.7M New
HOOD Robinhood Markets Inc. Class A 0.27% 357,488 $40.4M Add +6.4%
AXSM Axsome Therapeutics Inc. 0.27% 220,518 $40.3M Reduce -1.3%
CCB Coastal Financial Corp. 0.27% 344,364 $39.5M Reduce -3.4%
HBM Hudbay Minerals Inc. 0.27% 1,977,986 $39.3M Reduce -3.7%
MP MP Materials Corp. 0.26% 759,478 $38.4M Reduce -8.4%
IMAX Imax Corp. 0.26% 1,023,852 $37.8M Add +34.1%
FIX Comfort Systems USA Inc. 0.26% 40,482 $37.8M Reduce -20.0%
NXE Nexgen Energy Ltd. 0.26% 4,105,110 $37.8M Add +6.8%
AMLX Amylyx Pharmaceuticals Inc. 0.26% 3,109,503 $37.6M Add +28.4%
FSS Federal Signal Corp. 0.25% 341,624 $37.1M Reduce -23.2%
CAE Cae Inc. 0.25% 1,207,400 $36.7M Reduce -2.0%
ATRO Astronics Corp. 0.25% 666,498 $36.2M Add +155.6%
SHOO Steven Madden Ltd. filed as MADDEN STEVEN LTD 0.24% 857,979 $35.7M New
AEM Agnico Eagle Mines Ltd. 0.24% 209,200 $35.5M Reduce -37.3%
TNDM Tandem Diabetes Care Inc. 0.24% 1,610,342 $35.4M New
VIST Vista Energy Sab DE CV 0.24% 724,010 $35.2M Add +1123.3%
TTI Tetra Technologies Inc. 0.24% 3,716,699 $34.8M New
CECO Ceco Environmental Corp. 0.24% 579,950 $34.7M Add +11.8%
TVTX Travere Therapeutics Inc. 0.23% 901,404 $34.4M Add +27.4%
GIL Gildan Activewear Inc. 0.23% 538,800 $33.7M Add +0.1%
IE Ivanhoe Electric Inc. / US 0.23% 2,103,189 $33.6M Reduce -0.2%
LIVN Livanova PLC 0.23% 545,085 $33.5M Reduce -26.7%
ASND Ascendis Pharma A/S 0.23% 156,272 $33.3M Reduce -12.8%
TKO Tko Group Holdings Inc. 0.23% 158,847 $33.2M Add +12.1%
VSXY Victoria's Secret & Co. 0.22% 601,593 $32.6M New
RBC RBC Bearings Inc. 0.22% 72,489 $32.5M Reduce -16.0%
IVVD Invivyd Inc. 0.22% 13,062,945 $32.3M Add +29.3%
GPOR Gulfport Energy Corp. 0.22% 154,700 $32.2M Reduce -32.2%
INSP Inspire Medical Systems Inc. 0.22% 348,500 $32.1M New
TPR Tapestry Inc. 0.21% 238,419 $30.5M Reduce -5.4%
SITE Siteone Landscape Supply Inc. 0.21% 244,395 $30.4M Reduce -20.9%
IESC Ies Holdings Inc. filed as IES HLDGS INC 0.20% 77,082 $30.0M Reduce -3.7%
CAMT Camtek Ltd. 0.20% 281,310 $29.9M Add +22.1%
SIMO Silicon Motion Technol-ADR 0.20% 319,624 $29.6M Reduce -3.4%
LGN Legence Corp. Class A 0.20% 686,510 $29.5M New
EVR Evercore Inc. Class A 0.20% 86,785 $29.5M Add +134.7%
BBNX Beta Bionics Inc. 0.20% 956,784 $29.2M Reduce -9.7%
NEO Neogenomics Inc. 0.20% 2,471,738 $29.1M New
INDA iShares MSCI India ETF 0.19% 521,953 $28.2M Add +449.5%
CIFR Cipher Digital Inc. 0.19% 1,909,677 $28.2M Add +32.3%
KTOS Kratos Defense & Security 0.19% 369,700 $28.1M Reduce -59.4%
ALNY Alnylam Pharmaceuticals Inc. 0.19% 69,778 $27.7M Add +13.7%
LASR Nlight Inc. 0.19% 732,547 $27.5M New
RKLB Rocket Lab Corp. 0.19% 393,430 $27.4M Reduce -76.6%
ARLO Arlo Technologies Inc. 0.19% 1,951,869 $27.3M Reduce -21.5%
VCYT Veracyte Inc. 0.18% 631,710 $26.6M New
EVLV Evolv Technologies Holdings 0.18% 3,713,494 $26.6M Reduce -3.4%
AWI Armstrong World Industries 0.18% 138,001 $26.4M Add +33.0%
KNSA Kiniksa Pharmaceuticals Inte 0.18% 632,827 $26.1M Reduce -3.3%
AMBA Ambarella Inc. 0.18% 366,251 $25.9M Reduce -3.9%
LECO Lincoln Electric Holdings 0.17% 104,401 $25.0M Add +111.7%
FIVE Five Below 0.17% 132,668 $25.0M Reduce -21.2%
CELC Celcuity Inc. 0.17% 250,055 $24.9M Add +54.1%
CDE Coeur Mining Inc. 0.17% 1,393,680 $24.8M Add +37.7%
ATI Ati Inc. 0.17% 213,111 $24.5M New
PRM Perimeter Solutions Inc. 0.16% 869,718 $23.9M New
TTWO Take-Two Interactive Softwre 0.16% 92,929 $23.8M Reduce -41.8%
MIAX Miami International Holdings 0.16% 532,391 $23.6M Add +177.8%
AORT Artivion Inc. 0.16% 517,479 $23.6M Add +102.5%
CACI Caci International Inc. Class A 0.16% 44,251 $23.6M Add +20.1%
ALM Almonty Industries Inc. 0.16% 2,659,069 $23.4M Reduce -21.5%
XERS Xeris Biopharma Holdings Inc. 0.16% 2,980,567 $23.4M Add +13.8%
NESR National Energy Services Reu 0.16% 1,492,513 $23.4M New
NPCE Neuropace Inc. 0.16% 1,511,289 $23.3M Add +60.9%
FIGS Figs Inc. Class A 0.16% 2,043,417 $23.2M New
PPTA Perpetua Resources Corp. 0.16% 956,711 $23.2M Reduce -19.2%
LGND Ligand Pharmaceuticals 0.16% 122,326 $23.1M Reduce -24.9%
DQ Daqo New Energy Corp.-ADR 0.16% 780,973 $23.0M Add +955.8%
GHM Graham Corp. 0.15% 354,912 $22.8M New
CASY Casey's General Stores Inc. 0.15% 41,233 $22.8M Add +26.6%
MTZ Mastec Inc. 0.15% 104,195 $22.6M Add +6.5%
PRCH Porch Group Inc. 0.15% 2,469,216 $22.5M Reduce -7.8%
BWXT BWX Technologies Inc. 0.15% 130,379 $22.5M Reduce -41.7%
ALKS Alkermes PLC 0.15% 796,968 $22.3M Reduce -3.7%
MRCY Mercury Systems Inc. 0.15% 304,726 $22.2M Add +37.9%
WLDN Willdan Group Inc. 0.15% 210,586 $21.8M Add +70.1%
PSMT Pricesmart Inc. 0.15% 176,347 $21.6M Add +45.4%
WWD Woodward Inc. 0.15% 70,841 $21.4M New
DRUG Bright Minds Biosciences Inc. 0.14% 269,641 $21.0M New
VIK Viking Holdings Ltd. 0.14% 293,790 $21.0M Add +45.0%
ALNT Allient Inc. 0.14% 387,147 $20.8M New
NBIX Neurocrine Biosciences Inc. 0.14% 145,561 $20.6M Add +38.7%
AR Antero Resources Corp. 0.14% 583,249 $20.1M Add +50.9%
LPTH Lightpath Technologies Inc. Class A 0.14% 1,842,100 $19.9M New
VISN Vistance Networks Inc. filed as COMMSCOPE HLDG CO INC 0.13% 1,087,304 $19.7M New
BLD Topbuild Corp. 0.13% 46,776 $19.5M Add +4.5%
ROKU Roku Inc. 0.13% 179,485 $19.5M New
PRLB Proto Labs Inc. 0.13% 382,155 $19.3M New
WMS Advanced Drainage Systems Inc. 0.13% 132,677 $19.2M Add +6.3%
UUUU Energy Fuels Inc. 0.13% 1,316,473 $19.1M Reduce -2.4%
AMPX Amprius Technologies Inc. 0.13% 2,393,212 $18.9M Reduce -22.6%
SXI Standex International Corp. 0.13% 86,578 $18.8M Add +61.0%
INSM Insmed Inc. 0.12% 105,617 $18.4M Add +6.4%
NP Neptune Insurance Holdi Class A 0.12% 620,152 $18.1M New
ASTS Ast Spacemobile Inc. 0.12% 246,363 $17.9M Reduce -76.0%
ANDG Andersen Group Inc. Class A 0.12% 688,666 $17.9M New
AGYS Agilysys Inc. 0.12% 149,286 $17.7M Reduce -22.9%
AAOI Applied Optoelectronics Inc. 0.12% 507,473 $17.7M Add +35.2%
OPLN Openlane Inc. 0.12% 588,120 $17.5M Reduce -3.4%
APEI American Public Education 0.12% 458,854 $17.3M Add +33.1%
FEIM Frequency Electronics Inc. 0.11% 313,029 $16.9M New
CHRW C.H. Robinson Worldwide Inc. 0.11% 102,804 $16.5M Add +6.3%
QXO Qxo Inc. 0.11% 851,019 $16.4M Add +6.7%
TCMD Tactile Systems Technology I 0.11% 565,642 $16.4M New
DLTR Dollar Tree Inc. 0.11% 133,329 $16.4M New
AFRM Affirm Holdings Inc. 0.11% 217,252 $16.2M Reduce -31.1%
HLIO Helios Technologies Inc. 0.11% 295,499 $15.8M Add +65.6%
MAZE Maze Therapeutics Inc. 0.11% 378,015 $15.7M No change
LOPE Grand Canyon Education Inc. 0.11% 93,994 $15.6M Reduce -75.1%
STNE Stoneco Ltd. Class A 0.10% 1,038,406 $15.4M Reduce -79.5%
GRDN Guardian Phrmcy Services-A 0.10% 506,475 $15.2M Reduce -3.3%
PGEN Precigen Inc. 0.10% 3,601,674 $15.1M Add +76.3%
EXEL Exelixis Inc. 0.10% 337,339 $14.8M Add +6.4%
AMRC Ameresco Inc. Class A 0.10% 504,658 $14.8M Add +135.1%
GMED Globus Medical Inc. Class A 0.10% 167,762 $14.6M New
TATT Tat Technologies Ltd. 0.10% 323,773 $14.5M Add +5.2%
LCII Lci Industries 0.10% 119,071 $14.4M Add +3.5%
BW Babcock & Wilcox Enterpr 0.10% 2,275,156 $14.4M New
W Wayfair Inc. Class A 0.10% 143,638 $14.4M Add +2.8%
CELH Celsius Holdings Inc. 0.10% 315,133 $14.4M Reduce -39.9%
AMSC American Superconductor Corp. 0.10% 499,984 $14.4M Reduce -59.0%
CPS Cooper-Standard Holding 0.10% 437,267 $14.4M Add +142.1%
ULTA Ulta Beauty Inc. 0.10% 23,697 $14.3M New
FTK Flotek Industries Inc. 0.10% 830,602 $14.3M New
ARGX Argenx SE - ADR 0.10% 16,897 $14.2M Reduce -11.2%
PLNT Planet Fitness Inc. Class A 0.10% 130,423 $14.1M Reduce -66.1%
FSLY Fastly Inc. Class A 0.10% 1,384,967 $14.1M New
PODD Insulet Corp. 0.10% 49,372 $14.0M Reduce -49.4%
ALSN Allison Transmission Holding 0.10% 143,119 $14.0M New
DXPE DXP Enterprises Inc. 0.09% 126,326 $13.9M Reduce -3.4%
TDUP Thredup Inc. Class A 0.09% 2,162,600 $13.8M Reduce -13.6%
TDY Teledyne Technologies Inc. 0.09% 27,026 $13.8M Reduce -41.8%
JBIO Jade Biosciences Inc. 0.09% 887,179 $13.7M Reduce -29.4%
CGNT Cognyte Software Ltd. 0.09% 1,433,197 $13.5M Add +0.7%
XZO Exzeo Group Inc. 0.09% 548,432 $13.3M New
IFS Intercorp Financial Services 0.09% 312,103 $13.2M Reduce -0.5%
PSIX Power Solutions Internationa 0.09% 229,120 $13.1M Add +70.3%
LBRT Liberty Energy Inc. 0.09% 707,513 $13.1M New
SWIM Latham Group Inc. 0.09% 2,045,782 $13.0M Reduce -3.4%
LTH Life Time Group Holdings Inc. 0.09% 488,327 $13.0M Reduce -70.8%
ABCL Abcellera Biologics Inc. 0.09% 3,771,999 $12.9M Add +118.4%
INCY Incyte Corp. 0.09% 128,384 $12.7M New
LAUR Laureate Education Inc. 0.09% 375,002 $12.6M Reduce -42.0%
CDNL Cardinal Infrastructure GR-A 0.08% 508,093 $12.3M New
KMTS Kestra Medical Technologies 0.08% 463,061 $12.3M New
SHLS Shoals Technologies Group -A 0.08% 1,400,869 $11.9M New
GENI Genius Sports Ltd. 0.08% 1,047,820 $11.5M Reduce -59.6%
UCTT Ultra Clean Holdings Inc. 0.08% 453,630 $11.5M Add +40.9%
DSGN Design Therapeutics Inc. 0.08% 1,179,817 $11.1M Add +9.6%
LINC Lincoln Educational Services 0.07% 443,031 $10.7M Add +10.3%
WT Wisdomtree Inc. 0.07% 875,774 $10.7M Reduce -3.4%
INOD Innodata Inc. 0.07% 206,817 $10.5M Reduce -29.7%
HUT Hut 8 Corp. 0.07% 217,624 $10.0M Reduce -82.8%
UTI Universal Technical Institut 0.07% 369,026 $9.6M Add +63.8%
MAMA Mama's Creations Inc. 0.06% 708,458 $9.6M New
RLMD Relmada Therapeutics Inc. 0.06% 1,880,006 $9.1M Add +154.1%
GWRE Guidewire Software Inc. 0.06% 43,287 $8.7M Reduce -63.3%
POWL Powell Industries Inc. 0.06% 26,912 $8.6M Reduce -68.5%
VITL Vital Farms Inc. 0.06% 257,178 $8.2M Reduce -58.5%
LIND Lindblad Expeditions Holding 0.06% 567,906 $8.2M Reduce -32.6%
HLMN Hillman Solutions Corp. 0.05% 930,045 $8.1M Reduce -4.4%
APLD Applied Digital Corp. 0.05% 321,371 $7.9M Reduce -77.0%
AS Amer Sports Inc. 0.05% 205,343 $7.7M Reduce -50.4%
ATAT Atour Lifestyle Holdings-ADR 0.05% 193,558 $7.6M Add +9.5%
KFII K&F Growth Acquisition Cor-A 0.05% 725,185 $7.5M Reduce -3.1%
TDW Tidewater Inc. 0.05% 148,026 $7.5M Reduce -38.4%
AGX Argan Inc. 0.05% 23,830 $7.5M Reduce -81.8%
BRCB Black Rock Coffee Bar Inc. Class A 0.05% 335,369 $7.5M Add +26.4%
BEAG Bold Eagle Acquisition Cor-A 0.05% 678,279 $7.2M Reduce -15.8%
PTRN Pattern Group Inc. Class A 0.05% 618,861 $7.1M Reduce -4.3%
OACC Oaktree Acquisition Corp. I-A 0.05% 670,072 $7.1M Reduce -6.0%
P Everpure Inc. Class A filed as PURE STORAGE INC 0.05% 106,289 $7.1M New
ONC Beone Medicines Ltd.-ADR 0.05% 23,213 $7.1M Add +73.7%
TARA Protara Therapeutic Inc. 0.05% 1,259,427 $6.7M Add +183.4%
UAMY United States Antimony Corp. 0.04% 1,293,548 $6.5M Reduce -54.2%
CNNE Cannae Holdings Inc. 0.04% 410,421 $6.5M Reduce -3.9%
WSC Willscot Holdings Corp. 0.04% 320,487 $6.0M Reduce -6.6%
ANIP Ani Pharmaceuticals Inc. 0.04% 76,180 $6.0M Reduce -3.3%
TBBB BBB Foods Inc. Class A 0.04% 179,971 $6.0M Add +596.5%
ANRO Alto Neuroscience Inc. 0.04% 336,762 $6.0M New
GDEN Golden Entertainment Inc. 0.04% 219,125 $6.0M No change
ATII Archimedes Tech Spac Partner 0.04% 573,083 $5.9M No change
TE T1 Energy Inc. 0.04% 842,862 $5.6M New
JCAP Jefferson Capital Inc. 0.04% 247,230 $5.5M Reduce -34.2%
INV Innventure Inc. 0.04% 1,256,486 $5.3M New
VRDN Viridian Therapeutics Inc. 0.04% 167,934 $5.2M Reduce -51.2%
GXO Gxo Logistics Inc. 0.04% 98,918 $5.2M No change
HVMC Highview Merger Corp. Class A 0.03% 500,000 $5.0M No change
BLFY Blue Foundry Bancorp 0.03% 400,997 $5.0M No change
GOOGL Alphabet Inc. Class A 0.03% 14,016 $4.4M Reduce -2.0%
WLAC Willow Lane Acquisition Class A 0.03% 319,667 $4.0M No change
LUCK Lucky Strike Entertainment C 0.03% 459,178 $3.9M No change
NHIC Newhold Investment Cor III-A 0.03% 369,986 $3.8M No change
VINP Vinci Compass Investments LT 0.02% 278,878 $3.6M No change
NVDA Nvidia Corp. 0.02% 19,289 $3.6M Reduce -8.8%
CBIO Crescent Biopharma Inc. 0.02% 302,457 $3.6M No change
SION Sionna Therapeutics Inc. 0.02% 83,850 $3.4M No change
PENN Penn Entertainment Inc. 0.02% 228,679 $3.4M No change
DTIL Precision Biosciences Inc. 0.02% 787,700 $3.3M New
RNAM Avidity Biosciences Inc. 0.02% 45,408 $3.3M Reduce -25.0%
GSHR Gesher Acquisition Corp. II-A 0.02% 317,974 $3.3M No change
DSACU Daedalus Special Acquisition 0.02% 300,000 $3.0M New
DNMX Dynamix Corp. III Class A 0.02% 300,000 $3.0M New
FULC Fulcrum Therapeutics Inc. 0.02% 243,388 $2.8M New
AAPL Apple Inc. 0.02% 10,098 $2.7M Add +23.0%
PTN Palatin Technologies Inc. 0.02% 166,713 $2.6M New
APXT Apex Treasury Corp. Class A 0.02% 250,000 $2.5M New
CLYM Climb Bio Inc. 0.02% 600,946 $2.4M New
MNPR Monopar Therapeutics Inc. 0.01% 33,715 $2.2M Reduce -47.8%
PEPG Pepgen Inc. 0.01% 315,000 $2.1M No change
LRMR Larimar Therapeutics Inc. 0.01% 535,464 $2.0M No change
LATA Galata Acqu Corp. II Class A 0.01% 200,000 $2.0M No change
JPM JPMorgan Chase & Co. 0.01% 6,113 $2.0M Reduce -6.8%
MSFT Microsoft Corp. 0.01% 4,032 $1.9M Reduce -30.9%
PAM Pampa Energia SA-Spon ADR 0.01% 21,253 $1.9M No change
GDS GDS Holdings Ltd. - ADR filed as GDS HLDGS LTD 0.01% 51,576 $1.8M No change
AMZN Amazon.com Inc. 0.01% 7,669 $1.8M Add +39.8%
ALXO Alx Oncology Holdings Inc. 0.01% 1,422,882 $1.6M Add +78.8%
GLD SPDR Gold Shares 0.01% 3,049 $1.2M Reduce -6.1%
COF Capital One Financial Corp. 0.01% 4,870 $1.2M Add +46.4%
WMT Walmart Inc. 0.01% 10,591 $1.2M Add +44.8%
AVGO Broadcom Inc. 0.01% 3,291 $1.1M Add +6.4%
TSLA Tesla Inc. 0.01% 2,497 $1.1M New
KO The Coca-Cola Co. 0.01% 15,445 $1.1M Add +22.8%
XOM Exxon Mobil Corp. 0.01% 8,837 $1.1M Reduce -6.8%
BAC Bank of America Corp. filed as BANK AMERICA CORP 0.01% 19,076 $1.0M Add +2.8%
EQT Eqt Corp. 0.01% 19,527 $1.0M Reduce -6.8%
APP AppLovin Corp. Class A 0.01% 1,552 $1.0M Reduce -19.4%
CAEP Cantor Equity Partners III-A 0.01% 100,000 $1.0M No change
BDCI BTC Development Corp. Class A 0.01% 100,000 $1.0M No change
BND Vanguard Total Bond Market 0.01% 13,481 $999K Reduce -13.4%
SHOP Shopify Inc. Class A 0.01% 5,951 $958K Reduce -10.9%
META Meta Platforms Inc. Class A 0.01% 1,421 $938K Reduce -52.7%
LIN Linde PLC 0.01% 2,148 $916K Reduce -6.8%
AZN Astrazeneca PLC-Spons ADR 0.01% 9,774 $899K Add +62.4%
LLY Eli Lilly & Co. 0.01% 823 $884K Add +73.6%
VLUE iShares MSCI USA Value Facto 0.01% 6,442 $881K New
VLO Valero Energy Corp. 0.01% 5,158 $840K Add +28.2%
BA The Boeing Co. 0.01% 3,808 $827K Reduce -6.8%
PLD Prologis Inc. 0.01% 5,893 $752K Add +70.4%
DHR Danaher Corp. 0.01% 3,265 $747K New
NGNE Neurogene Inc. 0.00% 32,765 $675K No change
TFC Truist Financial Corp. 0.00% 13,418 $660K New
UNP Union Pacific Corp. 0.00% 2,754 $637K New
GILD Gilead Sciences Inc. 0.00% 5,033 $618K New
NET Cloudflare Inc. Class A 0.00% 2,974 $586K Add +18.0%
LRCX Lam Research Corp. 0.00% 3,277 $561K Reduce -92.8%
MRK Merck & Co. Inc. 0.00% 5,257 $553K New
KEYS Keysight Technologies Inc. 0.00% 2,633 $535K New
VEEV Veeva Systems Inc. Class A 0.00% 2,369 $529K Add +32.4%
CEPV Cantor Equity Partners Class A 0.00% 50,000 $513K New
CGNX Cognex Corp. 0.00% 14,097 $507K New
INTC Intel Corp. 0.00% 13,696 $505K New
TYL Tyler Technologies Inc. 0.00% 1,110 $504K New
HCMA HCM III Acquisition Cor Class A 0.00% 50,000 $503K No change
DYOR Insight Digital Partners I-A 0.00% 50,000 $496K New
SPOT Spotify Technology SA 0.00% 820 $476K Reduce -36.0%
WELL Welltower Inc. 0.00% 2,522 $468K Reduce -38.2%
ALAB Astera Labs Inc. 0.00% 2,709 $451K Reduce -99.7%
CRH CRH PLC 0.00% 3,468 $433K New
BSX Boston Scientific Corp. 0.00% 3,897 $372K Reduce -36.3%
CEG Constellation Energy 0.00% 1,019 $360K Reduce -30.4%
SPY SS SPDR S&P 500 ETF Trust-US 0.00% 464 $316K New
CCXIU Churchill Capital Corp. Xi 0.00% 22,500 $230K New
Other holdings (19): bonds, preferreds, convertibles and warrants · $2.2M (not counted above)
SecurityClassShares / PrincipalValueChange
HYAC.WS Haymaker Acquisition Corp.-28 *W EXP 05/31/202 249,999$387KNo change
BEAGR Bold Eagle Acquisition Corp. RIGHT 10/11/2029 1,200,000$384KNew
ATIIW Archimedes Tech-30 *W EXP 10/15/202 400,000$220KNo change
KFIIR K&F Growth Acquisition Corp. RIGHT 08/29/2031 1,200,000$192KNo change
PGYWW Pagaya Technologies Ltd. -27 *W EXP 99/99/999 480,716$154KNo change
OACCW Oaktree Acquisition III -31 *W EXP 09/01/203 180,000$128KNo change
RVMDW Revolution Medicines Inc.-28 *W EXP 12/17/202 135,000$127KNo change
BAERW Wildfire New Pubco Inc.-27 *W EXP 01/24/202 620,220$124KNo change
NHICW Newhold Investment Corp. - 30 *W EXP 01/30/203 249,999$90KNo change
TACOW Berto Acquisition Corp. - 30 *W EXP 05/01/203 226,724$84KNo change
GSHRW Gesher Acquisition Corp. I-30 *W EXP 10/31/203 199,999$70KNo change
HVMCW Highview Merger Corp. - 30 *W EXP 07/24/203 250,000$68KNo change
DNMXW Dynamix Corp. III *W EXP 10/10/203 150,000$48KNew
APXTW Apex Treasury Corp. -30 *W EXP 10/07/203 125,000$35KNew
LATAW Galata Acquisition Corp. - 30 *W EXP 09/12/203 66,666$23KNo change
BDCIW BTC Development Corp. - 30 *W EXP 09/11/203 24,999$11KNo change
DYORW Insight Digital Partners II *W EXP 10/28/203 25,000$8KNew
HCMAW HCM III Acquisition Corp. -30 *W EXP 07/23/203 16,666$8KNew
ISPOW Inspirato -CW30 *W EXP 02/11/202 167,540$1KNo change

Total filed on the 13F, all lines: $14.7B.

Portfolio Sells Q3 2025 → Q4 2025

ALAB Astera Labs Inc. Reduce -99.7% 0.00% −1.15
CVLT Commvault Systems Inc. Sold out 0.00% −0.86
STNE Stoneco Ltd. Class A Reduce -79.5% 0.10% −0.58
OLLI Ollie's Bargain Outlet Holdi Sold out 0.00% −0.55
CRDO Credo Technology Group Holdi Reduce -56.3% 0.38% −0.54
MELI MercadoLibre Inc. Sold out 0.00% −0.51
CORZ Core Scientific Inc. Sold out 0.00% −0.51
TME Tencent Music Entertainm-ADR Sold out 0.00% −0.50
LOPE Grand Canyon Education Inc. Reduce -75.1% 0.11% −0.49
STRL Sterling Infrastructure Inc. Reduce -45.6% 0.40% −0.47
CVSA Covista Inc. Sold out 0.00% −0.46
SRAD Sportradar Group AG-A Sold out 0.00% −0.44
QBTS D-Wave Quantum Inc. Sold out 0.00% −0.43
AMSC American Superconductor Corp. Reduce -59.0% 0.10% −0.42
LRN Stride Inc. Sold out 0.00% −0.41
KTOS Kratos Defense & Security Reduce -59.4% 0.19% −0.41
LEU Centrus Energy Corp. Class A Reduce -32.0% 0.40% −0.40
RKLB Rocket Lab Corp. Reduce -76.6% 0.19% −0.39
VC Visteon Corp. Sold out 0.00% −0.37
BE Bloom Energy Corp. Class A Reduce -52.6% 0.30% −0.35
IBN Icici Bank Ltd.-Spon ADR Reduce -24.2% 0.82% −0.34
AXON Axon Enterprise Inc. Reduce -17.4% 0.53% −0.32
CORT Corcept Therapeutics Inc. Sold out 0.00% −0.31
ROAD Construction Partners Inc. Class A Reduce -22.4% 0.51% −0.30
RBRK Rubrik Inc. Class A Sold out 0.00% −0.30
ODD Oddity Tech Ltd. Class A Sold out 0.00% −0.30
OUST Ouster Inc. Sold out 0.00% −0.30
USAR USA Rare Earth Inc. Sold out 0.00% −0.28
GTES Gates Industrial Corp. UK Ltd. Sold out 0.00% −0.28
WULF Terawulf Inc. Reduce -34.9% 0.46% −0.28
WYFI Whitefiber Inc. Sold out 0.00% −0.27
MIND MEDICINE MINDMED INC Sold out 0.00% −0.26
SITM Sitime Corp. Reduce -28.2% 0.99% −0.25
MOD Modine Manufacturing Co. Reduce -28.6% 0.44% −0.25
HUT Hut 8 Corp. Reduce -82.8% 0.07% −0.25
LTH Life Time Group Holdings Inc. Reduce -70.8% 0.09% −0.24
CLS Celestica Inc. Reduce -49.8% 0.32% −0.24
ASTS Ast Spacemobile Inc. Reduce -76.0% 0.12% −0.24
MGNI Magnite Inc. Sold out 0.00% −0.24
SMR Nuscale Power Corp. Sold out 0.00% −0.24
KRRO Korro Bio Inc. Sold out 0.00% −0.23
FN Fabrinet Reduce -35.5% 0.75% −0.23
AVAV Aerovironment Inc. Reduce -4.3% 0.53% −0.23
VRNS Varonis Systems Inc. Sold out 0.00% −0.23
SKWD Skyward Specialty Insurance Sold out 0.00% −0.22
QFIN Qfin Holdings Inc.-ADR Sold out 0.00% −0.21
CVNA Carvana Co. Reduce -28.6% 0.65% −0.21
AGX Argan Inc. Reduce -81.8% 0.05% −0.20
PL Planet Labs PBC Reduce -40.8% 1.14% −0.20
WWW Wolverine World Wide Inc. Sold out 0.00% −0.20

Portfolio Buys Q3 2025 → Q4 2025

PRAX Praxis Precision Medicines I Add +86.4% 1.87% +1.68
GPCR Structure Therapeutics Inc. Add +88.0% 0.78% +0.60
RMBS Rambus Inc. New 0.60% +0.60
DFTX Definium Therapeutics Inc. New 0.59% +0.59
EOSE Eos Energy Enterprises Inc. Add +117.3% 1.11% +0.58
APGE Apogee Therapeutics Inc. Add +1.2% 1.12% +0.51
INDV Indivior Pharmaceuticals Inc. New 0.49% +0.49
IMNM Immunome Inc. Add +432.1% 0.54% +0.48
FMX Fomento Economico Mex-SP ADR New 0.46% +0.46
EWTX Edgewise Therapeutics Inc. Add +88.1% 0.71% +0.45
WVE Wave Life Sciences Ltd. Add +4.5% 0.76% +0.43
NU Nu Holdings Ltd./Cayman Isl-A Add +91.8% 0.88% +0.42
SYRE Spyre Therapeutics Inc. Add +39.9% 0.64% +0.39
CRS Carpenter Technology Add +47.2% 0.86% +0.38
ARQT Arcutis Biotherapeutics Inc. Add +133.6% 0.51% +0.36
SQM Quimica Y Minera Chil-SP ADR New 0.35% +0.35
SAIA Saia Inc. New 0.32% +0.32
ALH Alliance Laundry Holdings Inc. New 0.30% +0.30
NTRA Natera Inc. Add +6.8% 0.97% +0.30
ULS Ul Solutions Inc. Class A Add +191.9% 0.44% +0.30
GLOB Globant SA New 0.30% +0.30
EMBJ Embraer SA-Spon ADR Add +71.2% 0.70% +0.29
TER Teradyne Inc. New 0.29% +0.29
ONTO Onto Innovation Inc. Add +247.4% 0.37% +0.28
COMP Compass Inc. Class A New 0.28% +0.28
DOO BRP Inc./Ca- Sub Voting New 0.28% +0.28
REAL The Realreal Inc. Add +53.6% 0.51% +0.27
GGAL Grupo Financiero Galicia-ADR Add +31.5% 0.45% +0.27
WFRD Weatherford International PL Add +43.6% 0.74% +0.26
ATEC Alphatec Holdings Inc. Add +102.8% 0.41% +0.26
ORA Ormat Technologies Inc. Add +226.4% 0.36% +0.26
BBIO Bridgebio Pharma Inc. Add +1.1% 0.87% +0.26
SHOO Steven Madden Ltd. New 0.24% +0.24
TNDM Tandem Diabetes Care Inc. New 0.24% +0.24
SMTC Semtech Corp. Add +108.3% 0.47% +0.24
TTI Tetra Technologies Inc. New 0.24% +0.24
NXT Nextpower Inc. Add +74.4% 0.47% +0.23
MTSI Macom Technology Solutions H Add +28.6% 0.56% +0.23
VIST Vista Energy Sab DE CV Add +1123.3% 0.24% +0.22
COHR Coherent Corp. Add +2.1% 0.56% +0.22
VSXY Victoria's Secret & Co. New 0.22% +0.22
INSP Inspire Medical Systems Inc. New 0.22% +0.22
XMTR Xometry Inc. Class A Add +32.6% 0.80% +0.22
SPXC SPX Technologies Inc. Add +56.1% 0.58% +0.22
TARS Tarsus Pharmaceuticals Inc. Add +13.7% 0.65% +0.21
VSEC Vse Corp. Add +54.1% 0.61% +0.21
PI Impinj Inc. Add +43.3% 0.87% +0.21
LGN Legence Corp. Class A New 0.20% +0.20
NEO Neogenomics Inc. New 0.20% +0.20
NUVL Nuvalent Inc. Class A Add +123.3% 0.33% +0.20

Notes & Other Activity Q3 2025 → Q4 2025

BEAGR Bold Eagle Acquisition Corp. RIGHT 10/11/2029 New 1,200,000 $384K
XRPNW Armada Acquisition Corp - A *W EXP 05/21/203 Sold out 74,999 $71Kbefore exit
DNMXW Dynamix Corp. III *W EXP 10/10/203 New 150,000 $48K
APXTW Apex Treasury Corp. -30 *W EXP 10/07/203 New 125,000 $35K
BLUWW Blue Water Acquisition-CW26 *W EXP 05/23/203 Sold out 112,500 $16Kbefore exit
DYORW Insight Digital Partners II *W EXP 10/28/203 New 25,000 $8K
HCMAW HCM III Acquisition Corp. -30 *W EXP 07/23/203 New 16,666 $8K

Bonds, preferreds, convertibles and warrants; not part of the stock holdings or percentages above.

All Filings

QuarterPositions13F Reported ValueTop Holdings
Q2 2026 353$17.3BTSM, DFTX, PRAX, XENE, SIMO
Q1 2026 354$13.6BTSM, PRAX, XENE, CRNX, PL
Q4 2025 385$14.7BTSM, CRNX, PRAX, GH, XENE
Q3 2025 418$14.0BTSM, CRNX, PL, SITM, XENE
Q2 2025 403$12.5BTSM, CCJ, IBN, AXON, CYBR
Q1 2025 388$10.4BTSM, IBN, CRNX, XENE, SFM
Q4 2024 375$12.1BTSM, CRNX, IBN, XENE, ALAB
Q3 2024 370$11.6BTSM, CRNX, TMDX, IBN, PCVX
Q2 2024Amended 361$10.3BTSM, CRNX, TMDX, CCJ, IBN
Q1 2024 380$10.0BTSM, SMCI, CRNX, XENE, CAMT