Amer Sports, Inc.

# Signal Note: Driehaus Capital Initiates AS Position **Note:** American Sports Inc. (AS) is a sporting goods/equipment company, not a biotech firm, making this a notable sector divergence for a growth-focused biotech allocator like Driehaus. The $7.7M position likely reflects conviction in AS's operational turnaround or valuation inflection rather than pipeline catalysts. Without disclosed biotech assets or recent M&A activity in AS's portfolio, the strategic rationale for this entry warrants clarification on whether this represents portfolio diversification or a potential acquisition target signal.