XENE

XENE

XENE

Letters With This Ticker

Quarter	Letter Date	Fund Name	QTD	YTD	Tickers	Keywords/Themes	Theme Commentary	Pitches	Letter
2025 Q3	Sep 30, 2025	Baron Health Care Fund	5.4%	-2.7%	ABBV, ACLX, ARGX, AZN, BSX, CDTX, COO, HRTX, IMVT, INSM, IONS, ISRG, JNJ, LLY, MASI, PFE, RDNT, ROIV, SYK, TMO, UNH, WAT, XENE	AI, Biotechnology, GLP1, growth, healthcare, Medical Devices, Pharmaceuticals	Strong stock selection in biotechnology contributed the vast majority of relative gains, with main drivers being argenx SE and Insmed Incorporated. The third quarter saw several positive biotechnology clinical data readouts, a strong rebound in biotechnology funding, and an acceleration in M&A activity.		View
2024 Q3	Sep 30, 2024	Peapack Private	-	-	ABBV, ACLX, ARGX, AZN, BSX, CDTX, COO, HRTX, INSM, IONS, ISRG, JNJ, LLY, MASI, PFE, RDNT, ROIV, SYK, TMO, UNH, WAT, XENE	AI, Biotechnology, GLP-1, healthcare, M&A, Medical Devices, Pharmaceuticals	Strong stock selection in biotechnology contributed the vast majority of relative gains, with main drivers being argenx SE and Insmed Incorporated. The quarter saw several positive biotechnology clinical data readouts, a strong rebound in biotechnology funding, and an acceleration in M&A activity.		View
2023 Q3	Sep 30, 2023	Driehaus Micro Cap Growth Strategy	-7.0%	3.0%	AEHR, ELF, FSLY, MOD, XENE	energy, growth, inflation, Micro Cap, Onshoring, semiconductors, small caps, Yields	Inflation remains the key factor to monitor with continued progress towards lower rates. The four primary Covid-related drivers of inflation have all normalized, and most CPI components continue to trend lower. Rent inflation is expected to moderate as real-time measurements show rents have already fallen due to new apartment unit growth.		View
2023 Q2	Jun 30, 2023	Driehaus Small Cap Growth Fund	9.0%	14.0%	AAPL, ACLS, INSP, JPM, KNSL, SMCI, XENE	AI, growth, healthcare, industrials, Recession, small cap, technology, Valuations	AI is still in its infancy but will have significant economic impact and create many investment opportunities. Hardware investment to support AI applications is showing huge growth inflection, particularly in servers and networking equipment. The fund holds several companies benefiting from AI demand, including a server manufacturer seeing tremendous growth in AI applications.		View
2025 Q1	Apr 4, 2025	Carrington Wealth Management	-	-	ABBV, ACLX, ARGX, AZN, BSX, CDTX, COO, HRTX, INSM, IONS, ISRG, JNJ, LLY, MASI, RDNT, ROIV, SYK, TMO, UNH, WAT, XENE	AI, Biotechnology, GLP1, healthcare, M&A, Medical Devices, Pharmaceuticals	Strong stock selection in biotechnology contributed the vast majority of relative gains, with main drivers being argenx SE and Insmed Incorporated. The quarter saw several positive biotechnology clinical data readouts, a strong rebound in biotechnology funding, and an acceleration in M&A activity.		View
2024 Q1	Apr 27, 2024	Driehaus Micro Cap Growth Strategy	8.2%	24.0%	CAMT, CRNX, FTAI, MOD, NVDA, SMCI, XENE	AI, Biotech, growth, healthcare, industrials, Micro Cap, semiconductors, technology	AI holds tremendous potential to enhance productivity across industries through automation, analytics, and customer experience improvements. Enterprise adoption is growing rapidly with 45% piloting AI and significant investment planned. The manager views AI as early-stage with durable growth prospects, comparing it favorably to past technology cycles like the internet and cloud.		View
2025 Q1	Mar 31, 2025	EQUAM Global Value Fund	-1.2%	-1.2%	ABBV, ACLX, ARGX, AZN, BSX, CDTX, COO, HRTX, IMVT, INSM, IONS, ISRG, JNJ, LLY, MASI, PFE, RDNT, ROIV, SYK, TMO, UNH, WAT, XENE	AI, Biotechnology, GLP1, healthcare, M&A, Medical Devices, Pharmaceuticals	Strong stock selection in biotechnology contributed the vast majority of relative gains, with main drivers being argenx SE and Insmed Incorporated. The quarter saw several positive biotechnology clinical data readouts, a strong rebound in biotechnology funding, and an acceleration in M&A activity.	ACAD SS BFSA GR STM GR CIE SM BME LN	View
2023 Q1	Mar 31, 2023	Driehaus Micro Cap Growth Strategy	2.0%	2.0%	AGYS, ELF, PI, TMDX, UBS, XENE	Banking Crisis, Fed policy, growth, healthcare, inflation, Micro Cap, Recession, technology	Regional bank failures including Silicon Valley Bank and Signature Bank created a banking crisis in March. The crisis was driven by concentrated deposit bases, uninsured deposits, and forced treasury sales at losses rather than credit quality issues. Emergency Fed measures including deposit guarantees and the Bank Term Funding Program helped restore stability.		View
2023 Q4	Jan 22, 2024	Biondo Investment Advisors	-	-	ABBV, ACLX, ARGX, AZN, BSX, CDTX, COO, HRTX, INSM, IONS, ISRG, JNJ, LLY, MASI, PFE, RDNT, ROIV, SYK, TMO, UNH, WAT, XENE	AI, Biotechnology, Diagnostics, GLP1, healthcare, Medical Devices, Pharmaceuticals	Strong stock selection in biotechnology contributed the vast majority of relative gains, with main drivers being argenx SE and Insmed Incorporated. The fund holds 31.8% in biotechnology companies and sees multiple secular growth opportunities in genomics, genetic testing, and genetic medicine.		View
2024 Q4	Jan 11, 2025	Driehaus Micro Cap Growth Strategy	0.5%	-32.9%	CLFD, ELF, PI, TMDX, XENE	Fed policy, growth, inflation, infrastructure, Micro Cap, Onshoring, Recession, small caps	Manager believes inflation will continue to fall as key drivers like excess money supply (M2 now negative year-over-year), excess savings, and supply chain issues have largely normalized. Fed policy response to inflation trajectory remains the key market driver.		View
2023 Q4	Jan 17, 2024	Driehaus Micro Cap Growth Strategy	8.2%	24.0%	CLFD, ELF, PI, TMDX, XENE	Fed policy, growth, inflation, infrastructure, Micro Cap, Onshoring, Recession, small caps	Manager extensively analyzes inflation drivers including excess money supply, savings, supply chains, and labor shortages. Believes inflation will continue to fall as M2 money supply turns negative, excess savings decline, and supply chains recover. Views falling inflation as key catalyst for equity market recovery.		View

Pitches With This Ticker

Date	Pitch Type	Author	Company	Industry	Sub Industry	Bull / Bear	Stock Exchange	Keywords	Action
No pitches found.

BSD Shareholders of XENE

This report provides a detailed summary of investor holdings for a specified stock ticker, highlighting key metrics such as fund name, total assets under management (AUM), invested value, portfolio weight, and shares owned. It also tracks changes in share ownership during the last quarter, including the percentage of shares bought or sold and the percentage of outstanding shares owned. The data is generated using an API that processes investor holdings and calculates these values for each fund. This report helps investors and analysts monitor the stock positions of major funds, identify investment trends, and assess the influence of large investors on individual stocks.

Filing Date: September 30, 2025

Manager Name	Fund Name	Fund AUM	Invested Value	Portfolio Weight	Shares Owned	Shares Bought / Sold During Quarter	% Bought / Sold During Quarter	% of Shares Outstanding Owned
No investor data available.

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