DRIEHAUS CAPITAL MANAGEMENT LLC recently filed their 13F report for the third quarter of 2022, which ended on 2022-09-30.
The 13F report details which stocks were in a guru’s equity portfolio at the end of the quarter, though investors should note that these filings are limited in scope, containing only a snapshot of long positions in U.S.-listed stocks and American depository receipts as of the quarter’s end. They are not required to include international holdings, short positions or other types of investments. Still, even this limited filing can provide valuable information.
Driehaus Capital Management LLC is an investment management firm based out of Chicago, Illinois. The company was established in 1982 by founder Richard Herman Driehaus, who continues to have an active role in the company acting as the company’s Chairmain, CIO, and director. Driehaus Capital Management conducts its research internally, utilizing a fundamental methodology to make its investment decisions. The company invests in the growth stocks of micro to large cap companies, utilizing a fundamental research based approach with bottom up stock picking. Driehaus Capital Management invests across a variety of sectors, focusing on companies that have diversified market capitalization and benchmarking its performance against various Russell and Morgan Stanley indices. The company invests most heavily in the information technology sector, which alone makes up over a quarter of its total asset allocations, and also invests in the consumer discretionary, health care, industrials, finance, and consumer staples sectors, among others to a lesser degree, in order of decreasing allocation. Driehaus Capital Management keeps its holdings for an average of 2.1 quarters and, in the most recent quarter, had a turnover rate of approximately 71.6%. The company now operates with 100 employees of which 40 are investment professionals. Driehaus Capital Management holds over $10.4 billion in total assets under management spread across 139 accounts, all of which are discretionary accounts. Although the company’s total number of accounts has been decreasing in recent years, its total assets under management has been increasing, growing significantly from $2.5 billion back in 2010 to well over four times that amount today. Driehaus Capital Management mainly caters to pooled investment vehicles, which alone makes up a third of its client base, and also provides to a variety of other clientele. The company offers a variety of mutual funds including its Active Income, Select Credit, Frontier Emerging Markets, and Event Driven funds.
As of the latest 13F report, the guru’s equity portfolio contained 343 stocks valued at a total of $6.59Bil. The top holdings were TSM(3.59%), XENE(2.47%), and CCJ(2.09%).
According to GuruFocus data, these were DRIEHAUS CAPITAL MANAGEMENT LLC’s top five trades of the quarter.
DICE Therapeutics Inc
DRIEHAUS CAPITAL MANAGEMENT LLC reduced their investment in NAS:DICE by 56,297 shares. The trade had a 0.03% impact on the equity portfolio. During the quarter, the stock traded for an average price of $35.51.
On 11/15/2022, DICE Therapeutics Inc traded for a price of $33.63 per share and a market cap of $1.60Bil. The stock has returned 5.99% over the past year.
GuruFocus gives the company a financial strength rating of 7 out of 10 and a profitability rating of 1 out of 10.
In terms of valuation, DICE Therapeutics Inc has a price-book ratio of 4.91, a EV-to-Ebitda ratio of -18.14 and a price-sales ratio of 369.33.
Pfizer Inc
The guru sold out of their 1,436,482-share investment in NYSE:PFE. Previously, the stock had a 1.22% weight in the equity portfolio. Shares traded for an average price of $48.59 during the quarter.
On 11/15/2022, Pfizer Inc traded for a price of $48.57 per share and a market cap of $272.64Bil. The stock has returned 1.05% over the past year.
GuruFocus gives the company a financial strength rating of 7 out of 10 and a profitability rating of 8 out of 10.
In terms of valuation, Pfizer Inc has a price-earnings ratio of 9.34, a price-book ratio of 2.94, a price-earnings-to-growth (PEG) ratio of 0.89, a EV-to-Ebitda ratio of 6.99 and a price-sales ratio of 2.79.
The price-to-GF Value ratio is 0.57, earning the stock a GF Value rank of 8.
Calix Inc
During the quarter, DRIEHAUS CAPITAL MANAGEMENT LLC bought 900,997 shares of NYSE:CALX for a total holding of 1,700,927. The trade had a 0.84% impact on the equity portfolio. During the quarter, the stock traded for an average price of $53.46.
On 11/15/2022, Calix Inc traded for a price of $67.07 per share and a market cap of $4.39Bil. The stock has returned -5.91% over the past year.
GuruFocus gives the company a financial strength rating of 9 out of 10 and a profitability rating of 3 out of 10.
In terms of valuation, Calix Inc has a price-earnings ratio of 94.46, a price-book ratio of 6.77, a EV-to-Ebitda ratio of 60.69 and a price-sales ratio of 5.69.
The price-to-GF Value ratio is 1.41, earning the stock a GF Value rank of 1.
Axonics Inc
The guru established a new position worth 648,976 shares in NAS:AXNX, giving the stock a 0.69% weight in the equity portfolio. Shares traded for an average price of $68.98 during the quarter.
On 11/15/2022, Axonics Inc traded for a price of $64.38 per share and a market cap of $3.19Bil. The stock has returned 8.97% over the past year.
GuruFocus gives the company a financial strength rating of 8 out of 10 and a profitability rating of 1 out of 10.
In terms of valuation, Axonics Inc has a price-book ratio of 5.79, a EV-to-Ebitda ratio of -41.57 and a price-sales ratio of 12.22.
The price-to-GF Value ratio is 0.55, earning the stock a GF Value rank of 8.
Wingstop Inc
The guru established a new position worth 356,492 shares in NAS:WING, giving the stock a 0.68% weight in the equity portfolio. Shares traded for an average price of $119.51 during the quarter.
On 11/15/2022, Wingstop Inc traded for a price of $167.03 per share and a market cap of $5.00Bil. The stock has returned 0.45% over the past year.
GuruFocus gives the company a financial strength rating of 4 out of 10 and a profitability rating of 9 out of 10.
In terms of valuation, Wingstop Inc has a price-earnings ratio of 118.46, a price-earnings-to-growth (PEG) ratio of 6.30, a EV-to-Ebitda ratio of 63.90 and a price-sales ratio of 15.22.
The price-to-GF Value ratio is 0.90, earning the stock a GF Value rank of 6.
Please note, the numbers and facts quoted are as of the writing of this article and may not factor in the latest trading data or company announcements.
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