LAUREATE EDUCATION, INC.

**Signal Note: Driehaus Position in LAUR** This signal appears misaligned with Driehaus's biotech focus—LAUR is an education/online learning company, not a biopharmaceutical firm. The $12.6M position (375k shares) likely reflects portfolio diversification or a tactical trade rather than core biotech thesis activity. Without clarity on Driehaus's rationale, this warrants monitoring as either a data error or a notable strategic pivot away from pure biotech concentration.