Driehaus Capital discloses 2.91% Planet Labs (PL) stake in 13G/A filing

Rhea-AI Filing Summary

Planet Labs PBC received an amended Schedule 13G/A showing that Driehaus Capital Management LLC beneficially owns 8,511,620 shares of Planet Labs Class A common stock, representing 2.91% of the class as of the event date of 12/31/2025.

Driehaus reports no sole voting or dispositive power over the shares, with all 8,511,620 shares held with shared voting and shared dispositive power. The filing states the securities were acquired and are held in the ordinary course of business and not for the purpose of changing or influencing control of Planet Labs.

SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13G

UNDER THE SECURITIES EXCHANGE ACT OF 1934

(Amendment No. 1)

Planet Labs PBC

(Name of Issuer)

Class A Common Stock

(Title of Class of Securities)

72703X106

(CUSIP Number)

12/31/2025

(Date of Event Which Requires Filing of this Statement)

Check the appropriate box to designate the rule pursuant to which this Schedule is filed:

Rule 13d-1(b)

Rule 13d-1(c)

Rule 13d-1(d)

SCHEDULE 13G

CUSIP No. 72703X106

1

Names of Reporting Persons

DRIEHAUS CAPITAL MANAGEMENT LLC

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

DELAWARE

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 0.00
6	Shared Voting Power 8,511,620.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 8,511,620.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

8,511,620.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

2.91 %

12

Type of Reporting Person (See Instructions)

IA

SCHEDULE 13G

Item 1.
(a)	Name of issuer: Planet Labs PBC
(b)	Address of issuer's principal executive offices: 645 Harrison Street, Floor 4, San Francisco, California, 94107
Item 2.
(a)	Name of person filing: Driehaus Capital Management LLC
(b)	Address or principal business office or, if none, residence: 25 East Erie Street Chicago, Illinois 60611
(c)	Citizenship: USA
(d)	Title of class of securities: Class A Common Stock
(e)	CUSIP No.: 72703X106
Item 3.	If this statement is filed pursuant to §§ 240.13d-1(b) or 240.13d-2(b) or (c), check whether the person filing is a:
(a)	Broker or dealer registered under section 15 of the Act (15 U.S.C. 78o);
(b)	Bank as defined in section 3(a)(6) of the Act (15 U.S.C. 78c);
(c)	Insurance company as defined in section 3(a)(19) of the Act (15 U.S.C. 78c);
(d)	Investment company registered under section 8 of the Investment Company Act of 1940 (15 U.S.C. 80a-8);
(e)	An investment adviser in accordance with § 240.13d-1(b)(1)(ii)(E);
(f)	An employee benefit plan or endowment fund in accordance with § 240.13d-1(b)(1)(ii)(F);
(g)	A parent holding company or control person in accordance with § 240.13d-1(b)(1)(ii)(G);
(h)	A savings associations as defined in Section 3(b) of the Federal Deposit Insurance Act (12 U.S.C. 1813);
(i)	A church plan that is excluded from the definition of an investment company under section 3(c)(14) of the Investment Company Act of 1940 (15 U.S.C. 80a-3);
(j)	A non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J). If filing as a non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J), please specify the type of institution:
(k)	Group, in accordance with Rule 240.13d-1(b)(1)(ii)(K).
Item 4.	Ownership
(a)	Amount beneficially owned: 8511620
(b)	Percent of class: 2.91 %
(c)	Number of shares as to which the person has:
	(i) Sole power to vote or to direct the vote: 0
	(ii) Shared power to vote or to direct the vote: 8511620
	(iii) Sole power to dispose or to direct the disposition of: 0
	(iv) Shared power to dispose or to direct the disposition of: 8511620
Item 5.	Ownership of 5 Percent or Less of a Class.
	Ownership of 5 percent or less of a class
Item 6.	Ownership of more than 5 Percent on Behalf of Another Person.
	Not Applicable
Item 7.	Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on by the Parent Holding Company or Control Person.
	Not Applicable
Item 8.	Identification and Classification of Members of the Group.
	Not Applicable
Item 9.	Notice of Dissolution of Group.
	Not Applicable

Item 10.

Certifications:

By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were acquired and are held in the ordinary course of business and were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under ?? 240.14a-11.

SIGNATURE

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

DRIEHAUS CAPITAL MANAGEMENT LLC

Signature:	Janet McWilliams
Name/Title:	Janet McWilliams/General Counsel
Date:	02/17/2026

FAQ

What stake in Planet Labs PBC (PL) does Driehaus Capital Management report?

Driehaus Capital Management reports beneficial ownership of 8,511,620 shares of Planet Labs PBC Class A common stock, representing 2.91% of the class. This ownership is disclosed in an amended Schedule 13G/A reflecting Driehaus as a significant but sub‑5% institutional holder.

What type of Planet Labs PBC (PL) securities does Driehaus hold?

Driehaus Capital Management reports holding Class A common stock of Planet Labs PBC. The Schedule 13G/A specifies 8,511,620 Class A shares with shared voting and shared dispositive power, indicating an institutional investment position rather than any preferred or derivative securities.

How much voting power does Driehaus have over Planet Labs PBC (PL) shares?

Driehaus Capital Management reports 0 shares with sole voting power and 8,511,620 shares with shared voting power. It also reports no sole dispositive power, with all 8,511,620 shares subject to shared dispositive power, indicating decisions are made jointly with other parties.

Is Driehaus Capital Management seeking control of Planet Labs PBC (PL)?

Driehaus states the Planet Labs securities were acquired and are held in the ordinary course of business and not for the purpose of changing or influencing control. The certification explicitly disclaims any control-seeking intent, consistent with a passive institutional investment under Schedule 13G.

Why did Driehaus file an amended Schedule 13G/A for Planet Labs PBC (PL)?

The filing is labeled Amendment No. 1 to a Schedule 13G, reflecting updated ownership information as of 12/31/2025. It reports Driehaus’ revised beneficial holdings of 8,511,620 Planet Labs Class A shares, representing 2.91% of the outstanding class.

Does Driehaus own more than 5% of Planet Labs PBC (PL)?

No. Driehaus Capital Management reports beneficial ownership of 2.91% of the class, which is explicitly characterized as ownership of 5 percent or less of Planet Labs PBC Class A common stock under Item 5 of the Schedule 13G/A.