Boot Barn Holdings, Inc.

**Signal Note:** Driehaus Capital's $63.6M debut position in Boot Barn (BOOT) represents a notable portfolio diversification away from core biotech holdings into retail apparel—unusual for a growth-focused manager with significant life sciences allocation. This signals either a tactical rebalancing toward defensive consumer discretionary exposure or conviction in Boot Barn's operational turnaround, though the move lacks the typical biotech/pharma catalyst triggers that define Driehaus's mandate.