# EDGAR Filing Document

**Accession Number:** 0001016073
**File Stem:** 0002066578-25-000381
**Filing Date:** 2025-8
**Character Count:** 40031
**Document Hash:** 3b48b27369ed7cc97179bd07eb159da2
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0002066578-25-000381.hdr.sgml**: 20250826

**ACCESSION NUMBER**: 0002066578-25-000381

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 1

**CONFORMED PERIOD OF REPORT**: 20250630

**FILED AS OF DATE**: 20250826

**DATE AS OF CHANGE**: 20250826

**PERIOD START**: 20251231

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** DRIEHAUS MUTUAL FUNDS
- **CENTRAL INDEX KEY:** 0001016073

**ORGANIZATION NAME:**
- **EIN:** 000000000
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-07655
- **FILM NUMBER:** 251255216

**BUSINESS ADDRESS:**
- **STREET 1:** 25 EAST ERIE ST
- **STREET 2:** 25 EAST ERIE STREET
- **CITY:** CHICAGO
- **STATE:** IL
- **ZIP:** 60611
- **BUSINESS PHONE:** 3125873800

**MAIL ADDRESS:**
- **STREET 1:** 25 E. ERIE STREET
- **CITY:** CHICAGO
- **STATE:** IL
- **ZIP:** 60611

## Series and Classes Contracts Data

### Driehaus Small/Mid Cap Growth Fund (Series ID: S000068519)

| Class ID   | Class Name                         | Ticker Symbol   |
|:---|:---|:---|
| C000219126 | Driehaus Small/Mid Cap Growth Fund | DSMDX           |

## Form NPORT-P: Monthly Portfolio Investments Report

### NPORT-P: Part A: General Information

**Item A.1. Information about the Registrant.**

- **a. Name of Registrant:** Driehaus Mutual Funds

- **b. Investment Company Act file number:** 811-07655

- **c. CIK number of Registrant:** 0001016073

- **d. LEI of Registrant:** 25490065PZVMACERQ816

- **e. Address and telephone number of Registrant.**

  - **Street Address 1:** 25 EAST ERIE STREET

  - **City:** CHICAGO

  - **State:** IL

  - **Foreign country:** US

  - **Zip / Postal Code:** 60611

  - **Telephone number:** 312 587 3800

**Item A.2. Information about the Series.**

- **a. Name of Series:** Driehaus Small/Mid Cap Growth Fund

- **b. EDGAR series identifier (if any):** S000068519

- **c. LEI of Series:** 254900VOPB557F5N3Z75

**Item A.3. Reporting period.**

- **a. Date of fiscal year-end:** 2025-12-31

- **b. Date as of which information is reported:** 2025-06-30

**Item A.4. Final filing**

Does the Fund anticipate that this will be its final filing on Form N-PORT? **No**

### Fund Information

**Total Assets:** $62251334.44

**Total Liabilities:** $62850.78

**Net Assets:** $62188483.66

**Cash Not Reported:** $0.01

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000219126 | 2.14%                | 5.92%                | 7.16%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $-2067469.71             | $3307325.48                                |
| Month 2  | $-790669.81              | $4039905.02                                |
| Month 3  | $-266622.03              | $4414681.13                                |

### Schedule of Portfolio Investments

| Name                                     | Title                                                 | Identifiers                                   | Payoff Profile   | Asset Category   | Issuer Category   | Country   |   Balance | Units   | Value (USD)   | % of Net Assets   | Maturity Date   | Coupon Type   | Annualized Rate (%)   | Restricted?   |   Fair Value Level | Lending Status   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| Guidewire Software Inc                   | Guidewire Software Inc COM USD0.0001                  | CUSIP: 40171V100<br>LEI: 549300WXSG0J8IXZCK32 | Long             | EC               | CORP              | US        |      3162 | NS      | $744492.90    | 1.20%             |  |  |  | No            |                  1 | On Loan: No      |
| Rocket Lab Corp.                         | Rocket Lab Corp. COM                                  | CUSIP: 773121108<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     10940 | NS      | $391323.80    | 0.63%             |  |  |  | No            |                  1 | On Loan: No      |
| Chime Financial Inc.                     | Chime Financial Inc. COM SHS CL A                     | CUSIP: 16935C109<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      7568 | NS      | $261171.68    | 0.42%             |  |  |  | No            |                  1 | On Loan: No      |
| PTC Therapeutics, Inc.                   | PTC Therapeutics, Inc. COM USD0.001                   | CUSIP: 69366J200<br>LEI: 549300UJLWOIWFDGB318 | Long             | EC               | CORP              | US        |      5769 | NS      | $281757.96    | 0.45%             |  |  |  | No            |                  1 | On Loan: No      |
| Sprouts Farmers Markets Inc              | Sprouts Farmers Markets Inc COM USD0.001              | CUSIP: 85208M102<br>LEI: 529900P8F4G77Q52XE24 | Long             | EC               | CORP              | US        |      4133 | NS      | $680457.12    | 1.09%             |  |  |  | No            |                  1 | On Loan: No      |
| Boot Barn Holdings Inc                   | Boot Barn Holdings Inc COM USD0.0001                  | CUSIP: 099406100<br>LEI: 529900QE1BFMYA3N4E71 | Long             | EC               | CORP              | US        |      3122 | NS      | $474544.00    | 0.76%             |  |  |  | No            |                  1 | On Loan: No      |
| Quanta Services, Inc.                    | Quanta Services, Inc. COM USD0.00001                  | CUSIP: 74762E102<br>LEI: SHVRXXEACT60MMH07S24 | Long             | EC               | CORP              | US        |      3215 | NS      | $1215527.20   | 1.95%             |  |  |  | No            |                  1 | On Loan: No      |
| Comfort Systems USA Inc.                 | Comfort Systems USA Inc. COM USD0.01                  | CUSIP: 199908104<br>LEI: 5299009DT1ZA5HTU6R38 | Long             | EC               | CORP              | US        |      1010 | NS      | $541572.10    | 0.87%             |  |  |  | No            |                  1 | On Loan: No      |
| Costar Group Inc                         | Costar Group Inc COM USD0.01                          | CUSIP: 22160N109<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      2363 | NS      | $189985.20    | 0.31%             |  |  |  | No            |                  1 | On Loan: No      |
| CACI International Inc.                  | CACI International Inc. CLASS'A'COM USD0.10           | CUSIP: 127190304<br>LEI: SYRPI2D1O9WRTS2WX210 | Long             | EC               | CORP              | US        |       805 | NS      | $383743.50    | 0.62%             |  |  |  | No            |                  1 | On Loan: No      |
| Carpenter Technology Corporation         | Carpenter Technology Corporation COM USD5             | CUSIP: 144285103<br>LEI: DX6I6ZD3X5WNNCDJKP85 | Long             | EC               | CORP              | US        |      3926 | NS      | $1085067.88   | 1.74%             |  |  |  | No            |                  1 | On Loan: No      |
| Teledyne Technologies Inc                | Teledyne Technologies Inc COM USD0.01                 | CUSIP: 879360105<br>LEI: 549300VSMO9KYQWDND94 | Long             | EC               | CORP              | US        |       588 | NS      | $301238.28    | 0.48%             |  |  |  | No            |                  1 | On Loan: No      |
| Casey'S General Stores Inc.              | Casey'S General Stores Inc. COM NPV                   | CUSIP: 147528103<br>LEI: 549300CAFWSI86V66Q65 | Long             | EC               | CORP              | US        |       573 | NS      | $292384.71    | 0.47%             |  |  |  | No            |                  1 | On Loan: No      |
| Curtiss-Wright Corp.                     | Curtiss-Wright Corp. COM USD1                         | CUSIP: 231561101<br>LEI: TEL51ETZWP7D0ZM4X325 | Long             | EC               | CORP              | US        |      2211 | NS      | $1080184.05   | 1.74%             |  |  |  | No            |                  1 | On Loan: No      |
| Exelixis, Inc.                           | Exelixis, Inc. COM USD0.001                           | CUSIP: 30161Q104<br>LEI: 254900PJQB59O2O95R37 | Long             | EC               | CORP              | US        |     10421 | NS      | $459305.58    | 0.74%             |  |  |  | No            |                  1 | On Loan: No      |
| Flowserve Corporation                    | Flowserve Corporation COM USD1.25                     | CUSIP: 34354P105<br>LEI: 6Y0GK87T6V7NJKZJVM41 | Long             | EC               | CORP              | US        |      7681 | NS      | $402100.35    | 0.65%             |  |  |  | No            |                  1 | On Loan: No      |
| Fair Isaac Corporation                   | Fair Isaac Corporation COM USD0.01                    | CUSIP: 303250104<br>LEI: RI6HET5SJUEY30V1PS26 | Long             | EC               | CORP              | US        |       157 | NS      | $286989.72    | 0.46%             |  |  |  | No            |                  1 | On Loan: No      |
| Take-Two Interactive Software Inc.       | Take-Two Interactive Software Inc. COM USD0.01        | CUSIP: 874054109<br>LEI: BOMSTHHJK882EWYX3334 | Long             | EC               | CORP              | US        |      4186 | NS      | $1016570.10   | 1.63%             |  |  |  | No            |                  1 | On Loan: No      |
| Modine Manufacturing Co.                 | Modine Manufacturing Co. COM USD0.625                 | CUSIP: 607828100<br>LEI: Z35SZFYJR8GZZRSIUU09 | Long             | EC               | CORP              | US        |      5877 | NS      | $578884.50    | 0.93%             |  |  |  | No            |                  1 | On Loan: No      |
| Lumentum Holdings Inc.                   | Lumentum Holdings Inc. COM USD0.001                   | CUSIP: 55024U109<br>LEI: 549300JLWRRC38DWEF52 | Long             | EC               | CORP              | US        |      5941 | NS      | $564751.46    | 0.91%             |  |  |  | No            |                  1 | On Loan: No      |
| Northern Institutional Funds             | Northern Institutional Funds GOVT PTFL                | CUSIP: 665278404<br>LEI: 549300Y178DO5JBR1S04 | Long             | STIV             | RF                | US        |    242173 | NS      | $242172.60    | 0.39%             |  |  |  | No            |                  1 | On Loan: No      |
| Sterling Infrastructure Inc              | Sterling Infrastructure Inc COM USD0.01               | CUSIP: 859241101<br>LEI: 549300RZIK6K1215XU51 | Long             | EC               | CORP              | US        |      3005 | NS      | $693343.65    | 1.11%             |  |  |  | No            |                  1 | On Loan: No      |
| Ormat Technologies Inc.                  | Ormat Technologies Inc. COM STK USD0.001              | CUSIP: 686688102<br>LEI: 5493000TSHHWY24VHM09 | Long             | EC               | CORP              | US        |      3882 | NS      | $325156.32    | 0.52%             |  |  |  | No            |                  1 | On Loan: No      |
| Corcept Therapeutics Inc.                | Corcept Therapeutics Inc. COM STK USD0.00001          | CUSIP: 218352102<br>LEI: 529900EO9LUTFMZ7FF90 | Long             | EC               | CORP              | US        |      3279 | NS      | $240678.60    | 0.39%             |  |  |  | No            |                  1 | On Loan: No      |
| RBC Bearings Inc                         | RBC Bearings Inc COM STK USD0.01                      | CUSIP: 75524B104<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      1576 | NS      | $606444.80    | 0.98%             |  |  |  | No            |                  1 | On Loan: No      |
| Grand Canyon Education Inc               | Grand Canyon Education Inc COM USD0.01                | CUSIP: 38526M106<br>LEI: 529900XFER799IYOSW74 | Long             | EC               | CORP              | US        |      3235 | NS      | $611415.00    | 0.98%             |  |  |  | No            |                  1 | On Loan: No      |
| Insmed Inc                               | Insmed Inc COM USD0.01                                | CUSIP: 457669307<br>LEI: 529900Q55QAG41CCAC11 | Long             | EC               | CORP              | US        |      2657 | NS      | $267400.48    | 0.43%             |  |  |  | No            |                  1 | On Loan: No      |
| MACOM Technology Solutions Holdings Inc. | MACOM Technology Solutions Holdings Inc. COM USD0.001 | CUSIP: 55405Y100<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      2167 | NS      | $310509.43    | 0.50%             |  |  |  | No            |                  1 | On Loan: No      |
| Natera Inc.                              | Natera Inc. COM USD0.0001                             | CUSIP: 632307104<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      8990 | NS      | $1518770.60   | 2.44%             |  |  |  | No            |                  1 | On Loan: No      |
| Commvault Systems Inc.                   | Commvault Systems Inc. COM STK USD0.01                | CUSIP: 204166102<br>LEI: 65T5VRP62VXG39YFML83 | Long             | EC               | CORP              | US        |      4362 | NS      | $760427.46    | 1.22%             |  |  |  | No            |                  1 | On Loan: No      |
| ExlService Holdings Inc.                 | ExlService Holdings Inc. COM STK USD0.001             | CUSIP: 302081104<br>LEI: 81E3DTNF6OSH489ZOV15 | Long             | EC               | CORP              | US        |      6820 | NS      | $298647.80    | 0.48%             |  |  |  | No            |                  1 | On Loan: No      |
| Five Below Inc                           | Five Below Inc COM USD0.01                            | CUSIP: 33829M101<br>LEI: 529900AAXP5Z6BGI7418 | Long             | EC               | CORP              | US        |      3526 | NS      | $462540.68    | 0.74%             |  |  |  | No            |                  1 | On Loan: No      |
| Xenon Pharmaceuticals Inc                | Xenon Pharmaceuticals Inc COM NPV                     | CUSIP: 98420N105<br>LEI: 549300XV44Q9Z1MIPQ03 | Long             | EC               | CORP              | CA        |     11965 | NS      | $374504.50    | 0.60%             |  |  |  | No            |                  1 | On Loan: No      |
| AeroVironment, Inc.                      | AeroVironment, Inc. COM USD0.0001                     | CUSIP: 008073108<br>LEI: 529900PGHVI29YLZ6221 | Long             | EC               | CORP              | US        |      2377 | NS      | $677326.15    | 1.09%             |  |  |  | No            |                  1 | On Loan: No      |
| The Mosaic Company                       | The Mosaic Company COM USD0.01                        | CUSIP: 61945C103<br>LEI: 2YD5STGSJNMUB7H76907 | Long             | EC               | CORP              | US        |     18244 | NS      | $665541.12    | 1.07%             |  |  |  | No            |                  1 | On Loan: No      |
| Cyberark Software Ltd.                   | Cyberark Software Ltd. COM ILS0.01                    | CUSIP: M2682V108<br>LEI: 529900YEXNDM894PWS93 | Long             | EC               | CORP              | IL        |      3813 | NS      | $1551433.44   | 2.49%             |  |  |  | No            |                  1 | On Loan: No      |
| Ascendis Pharma A/S                      | Ascendis Pharma A/S SPON ADR EACH REP 1 ORD SHS       | CUSIP: 04351P101<br>LEI: 549300B66JN3W3J8GH73 | Long             | EC               | CORP              | DK        |      4789 | NS      | $826581.40    | 1.33%             |  |  |  | No            |                  1 | On Loan: No      |
| Glaukos Corp.                            | Glaukos Corp. COM USD0.001                            | CUSIP: 377322102<br>LEI: 5299004JA1LHE21M6T14 | Long             | EC               | CORP              | US        |      2833 | NS      | $292620.57    | 0.47%             |  |  |  | No            |                  1 | On Loan: No      |
| BWX Technologies Inc.                    | BWX Technologies Inc. COM USD0.01                     | CUSIP: 05605H100<br>LEI: 549300NP85N265KWMS58 | Long             | EC               | CORP              | US        |      6475 | NS      | $932788.50    | 1.50%             |  |  |  | No            |                  1 | On Loan: No      |
| TechnipFMC PLC                           | TechnipFMC PLC USD1                                   | CUSIP: G87110105<br>LEI: 549300D5I93QWCJTCK36 | Long             | EC               | CORP              | GB        |     16935 | NS      | $583241.40    | 0.94%             |  |  |  | No            |                  1 | On Loan: No      |
| Circle Internet Group Inc.               | Circle Internet Group Inc. COM CL A                   | CUSIP: 172573107<br>LEI: 254900HFVVR6NPMQVN93 | Long             | EC               | CORP              | US        |       633 | NS      | $114756.57    | 0.18%             |  |  |  | No            |                  1 | On Loan: No      |
| Fabrinet                                 | Fabrinet COM USD0.01                                  | CUSIP: G3323L100<br>LEI: 5493004TETZ6IYF7CV44 | Long             | EC               | CORP              | KY        |      2067 | NS      | $609103.56    | 0.98%             |  |  |  | No            |                  1 | On Loan: No      |
| Antero Resources Corporation             | Antero Resources Corporation USD0.01                  | CUSIP: 03674X106<br>LEI: APVBKPOULHUX7YZLKU17 | Long             | EC               | CORP              | US        |     26900 | NS      | $1083532.00   | 1.74%             |  |  |  | No            |                  1 | On Loan: No      |
| Ollies Bargain Outlet Holdings Inc.      | Ollies Bargain Outlet Holdings Inc. COM USD0.001      | CUSIP: 681116109<br>LEI: 529900YO5DSQCPEFDZ05 | Long             | EC               | CORP              | US        |      4127 | NS      | $543856.06    | 0.87%             |  |  |  | No            |                  1 | On Loan: No      |
| Planet Fitness Inc.                      | Planet Fitness Inc. COM USD0.0001 A                   | CUSIP: 72703H101<br>LEI: 549300LLE5HUPF6H8G33 | Long             | EC               | CORP              | US        |      5568 | NS      | $607190.40    | 0.98%             |  |  |  | No            |                  1 | On Loan: No      |
| Twilio Inc                               | Twilio Inc COM USD0.001 CL A                          | CUSIP: 90138F102<br>LEI: 5493004W8TRGD63APX93 | Long             | EC               | CORP              | US        |      6588 | NS      | $819283.68    | 1.32%             |  |  |  | No            |                  1 | On Loan: No      |
| E L F Beauty Inc                         | E L F Beauty Inc COM USD0.01                          | CUSIP: 26856L103<br>LEI: 549300U2K9TCON25C029 | Long             | EC               | CORP              | US        |      4201 | NS      | $522772.44    | 0.84%             |  |  |  | No            |                  1 | On Loan: No      |
| Nutanix Inc                              | Nutanix Inc COM USD0.000025 CL A                      | CUSIP: 67059N108<br>LEI: 549300X7J6E8TKVIXW09 | Long             | EC               | CORP              | US        |      9102 | NS      | $695756.88    | 1.12%             |  |  |  | No            |                  1 | On Loan: No      |
| Alamos Gold Inc.                         | Alamos Gold Inc. COM NPV CL A                         | CUSIP: 011532108<br>LEI: 549300TDOX73YGYXE959 | Long             | EC               | CORP              | CA        |     14509 | NS      | $385359.04    | 0.62%             |  |  |  | No            |                  1 | On Loan: No      |
| Rubrik Inc.                              | Rubrik Inc. CL A                                      | CUSIP: 781154109<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      3064 | NS      | $274503.76    | 0.44%             |  |  |  | No            |                  1 | On Loan: No      |
| Core Scientific Inc                      | Core Scientific Inc COM                               | CUSIP: 21874A106<br>LEI: 549300NY2WTA02KF7L12 | Long             | EC               | CORP              | US        |     23503 | NS      | $401196.21    | 0.65%             |  |  |  | No            |                  1 | On Loan: No      |
| Loar Holdings Inc                        | Loar Holdings Inc COM SHS                             | CUSIP: 53947R105<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      4814 | NS      | $414822.38    | 0.67%             |  |  |  | No            |                  1 | On Loan: No      |
| Insulet Corporation                      | Insulet Corporation COM STK USD0.001                  | CUSIP: 45784P101<br>LEI: 549300TZTYD2PYN92D43 | Long             | EC               | CORP              | US        |      2931 | NS      | $920861.58    | 1.48%             |  |  |  | No            |                  1 | On Loan: No      |
| Viking Holdings Ltd.                     | Viking Holdings Ltd. ORD SHS                          | CUSIP: G93A5A101<br>LEI: N/A                  | Long             | EC               | CORP              | BM        |      6813 | NS      | $363064.77    | 0.58%             |  |  |  | No            |                  1 | On Loan: No      |
| QXO Inc                                  | QXO Inc COM NEW                                       | CUSIP: 82846H405<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     21330 | NS      | $459448.20    | 0.74%             |  |  |  | No            |                  1 | On Loan: No      |
| Celestica Inc.                           | Celestica Inc. COM                                    | CUSIP: 15101Q207<br>LEI: 549300J3CG5T6RZWLN53 | Long             | EC               | CORP              | CA        |      3897 | NS      | $608360.67    | 0.98%             |  |  |  | No            |                  1 | On Loan: No      |
| Leonardo DRS Inc                         | Leonardo DRS Inc COM                                  | CUSIP: 52661A108<br>LEI: 549300HMMEWVG3PPQU18 | Long             | EC               | CORP              | US        |     15439 | NS      | $717604.72    | 1.15%             |  |  |  | No            |                  1 | On Loan: No      |
| Crinetics Pharmaceuticals Inc.           | Crinetics Pharmaceuticals Inc. COM USD0.001           | CUSIP: 22663K107<br>LEI: 549300Q1CNFXK5P31D28 | Long             | EC               | CORP              | US        |     29887 | NS      | $859550.12    | 1.38%             |  |  |  | No            |                  1 | On Loan: No      |
| Guardant Health Inc                      | Guardant Health Inc COM USD0.00001                    | CUSIP: 40131M109<br>LEI: 254900M8C3E5VC8BR186 | Long             | EC               | CORP              | US        |     17234 | NS      | $896857.36    | 1.44%             |  |  |  | No            |                  1 | On Loan: No      |
| Credo Technology Group Holding Ltd       | Credo Technology Group Holding Ltd ORDINARY SHARES    | CUSIP: G25457105<br>LEI: N/A                  | Long             | EC               | CORP              | KY        |      9803 | NS      | $907659.77    | 1.46%             |  |  |  | No            |                  1 | On Loan: No      |
| Celsius Holdings Inc.                    | Celsius Holdings Inc. COM USD0.001                    | CUSIP: 15118V207<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     14028 | NS      | $650758.92    | 1.05%             |  |  |  | No            |                  1 | On Loan: No      |
| Chewy Inc                                | Chewy Inc COM USD0.01 CL A                            | CUSIP: 16679L109<br>LEI: 254900NPQSTG9I422879 | Long             | EC               | CORP              | US        |     11112 | NS      | $473593.44    | 0.76%             |  |  |  | No            |                  1 | On Loan: No      |
| TransMedics Group Inc.                   | TransMedics Group Inc. COM NPV                        | CUSIP: 89377M109<br>LEI: 549300060GVOSMWARH50 | Long             | EC               | CORP              | US        |      4490 | NS      | $601704.90    | 0.97%             |  |  |  | No            |                  1 | On Loan: No      |
| FTAI Aviation Ltd                        | FTAI Aviation Ltd COM USD0.01                         | CUSIP: G3730V105<br>LEI: N/A                  | Long             | EC               | CORP              | KY        |      3832 | NS      | $440833.28    | 0.71%             |  |  |  | No            |                  1 | On Loan: No      |
| BJ Wholesale Club Holdings Inc           | BJ Wholesale Club Holdings Inc COM USD0.01            | CUSIP: 05550J101<br>LEI: 549300UCIWH1C93V0J03 | Long             | EC               | CORP              | US        |      3274 | NS      | $353035.42    | 0.57%             |  |  |  | No            |                  1 | On Loan: No      |
| Tradeweb Markets Inc                     | Tradeweb Markets Inc COM USD0.00001 CL A              | CUSIP: 892672106<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      3255 | NS      | $476532.00    | 0.77%             |  |  |  | No            |                  1 | On Loan: No      |
| Knife River Corp.                        | Knife River Corp. COMMON STOCK                        | CUSIP: 498894104<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      2691 | NS      | $219693.24    | 0.35%             |  |  |  | No            |                  1 | On Loan: No      |
| Apogee Therapeutics Inc.                 | Apogee Therapeutics Inc. COM                          | CUSIP: 03770N101<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     10377 | NS      | $450673.11    | 0.72%             |  |  |  | No            |                  1 | On Loan: No      |
| BellRing Intermediate Holdings Inc.      | BellRing Intermediate Holdings Inc. COMMON STOCK      | CUSIP: 07831C103<br>LEI: 549300S3BOK5CMTS8054 | Long             | EC               | CORP              | US        |      4197 | NS      | $243132.21    | 0.39%             |  |  |  | No            |                  1 | On Loan: No      |
| CAVA Group Inc.                          | CAVA Group Inc. COM                                   | CUSIP: 148929102<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      4083 | NS      | $343911.09    | 0.55%             |  |  |  | No            |                  1 | On Loan: No      |
| Nexgen Energy Ltd                        | Nexgen Energy Ltd COM                                 | CUSIP: 65340P106<br>LEI: 529900N0IXNXB3IP7F06 | Long             | EC               | CORP              | CA        |     82553 | NS      | $572917.82    | 0.92%             |  |  |  | No            |                  1 | On Loan: No      |
| Life Time Group Holdings Inc             | Life Time Group Holdings Inc COMMON STOCK             | CUSIP: 53190C102<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     23758 | NS      | $720580.14    | 1.16%             |  |  |  | No            |                  1 | On Loan: No      |
| Coherent Corp                            | Coherent Corp COM                                     | CUSIP: 19247G107<br>LEI: 549300O5C25A0MMHHU33 | Long             | EC               | CORP              | US        |      7509 | NS      | $669877.89    | 1.08%             |  |  |  | No            |                  1 | On Loan: No      |
| Crane Co.                                | Crane Co. COMMON STOCK                                | CUSIP: 224408104<br>LEI: 5493000CQRQOTHUODL75 | Long             | EC               | CORP              | US        |      4485 | NS      | $851656.65    | 1.37%             |  |  |  | No            |                  1 | On Loan: No      |
| Sharkninja Inc.                          | Sharkninja Inc. COM SHS                               | CUSIP: G8068L108<br>LEI: N/A                  | Long             | EC               | CORP              | KY        |      3269 | NS      | $323598.31    | 0.52%             |  |  |  | No            |                  1 | On Loan: No      |
| Axon Enterprise Inc                      | Axon Enterprise Inc COM USD0.00001                    | CUSIP: 05464C101<br>LEI: 549300QP2IEEGFE16681 | Long             | EC               | CORP              | US        |      2269 | NS      | $1878595.86   | 3.02%             |  |  |  | No            |                  1 | On Loan: No      |
| Argenx SE                                | Argenx SE SPON ADR EACH REP 1 ORD SHS                 | CUSIP: 04016X101<br>LEI: 7245009C5FZE6G9ODQ71 | Long             | EC               | CORP              | NL        |       510 | NS      | $281122.20    | 0.45%             |  |  |  | No            |                  1 | On Loan: No      |
| Tapestry Inc                             | Tapestry Inc COM USD0.01                              | CUSIP: 876030107<br>LEI: 549300LJNVY5SW3VTN33 | Long             | EC               | CORP              | US        |      3829 | NS      | $336224.49    | 0.54%             |  |  |  | No            |                  1 | On Loan: No      |
| Howmet Aerospace Inc                     | Howmet Aerospace Inc COM                              | CUSIP: 443201108<br>LEI: 549300HO5WFZUT5N2T22 | Long             | EC               | CORP              | US        |      2892 | NS      | $538287.96    | 0.87%             |  |  |  | No            |                  1 | On Loan: No      |
| Confluent Inc                            | Confluent Inc CLASS A COM                             | CUSIP: 20717M103<br>LEI: 254900MRZ83YWUV7SN74 | Long             | EC               | CORP              | US        |     12406 | NS      | $309281.58    | 0.50%             |  |  |  | No            |                  1 | On Loan: No      |
| Core & Main Inc                          | Core & Main Inc CL A                                  | CUSIP: 21874C102<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     12612 | NS      | $761134.20    | 1.22%             |  |  |  | No            |                  1 | On Loan: No      |
| On Holding AG                            | On Holding AG NAMEN AKT A                             | CUSIP: H5919C104<br>LEI: N/A                  | Long             | EC               | CORP              | CH        |      4907 | NS      | $255409.35    | 0.41%             |  |  |  | No            |                  1 | On Loan: No      |
| Dutch Bros Inc                           | Dutch Bros Inc CL A                                   | CUSIP: 26701L100<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     12382 | NS      | $846557.34    | 1.36%             |  |  |  | No            |                  1 | On Loan: No      |
| Royal Gold, Inc.                         | Royal Gold, Inc. COM USD0.01                          | CUSIP: 780287108<br>LEI: 5493001NGRU6SFL04184 | Long             | EC               | CORP              | US        |      2823 | NS      | $502042.32    | 0.81%             |  |  |  | No            |                  1 | On Loan: No      |
| Cameco Corporation                       | Cameco Corporation COM NPV                            | CUSIP: 13321L108<br>LEI: N4BHALMXL3GMZKCUON55 | Long             | EC               | CORP              | CA        |     10347 | NS      | $768057.81    | 1.24%             |  |  |  | No            |                  1 | On Loan: No      |
| Carvana Co                               | Carvana Co COM USD0.001 CL A                          | CUSIP: 146869102<br>LEI: 5493003WEAK2PJ5WS063 | Long             | EC               | CORP              | US        |      4588 | NS      | $1545972.48   | 2.49%             |  |  |  | No            |                  1 | On Loan: No      |
| Sitime Corporation                       | Sitime Corporation COM                                | CUSIP: 82982T106<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      2384 | NS      | $507982.72    | 0.82%             |  |  |  | No            |                  1 | On Loan: No      |
| Alnylam Pharmaceuticals Inc.             | Alnylam Pharmaceuticals Inc. COM USD0.01              | CUSIP: 02043Q107<br>LEI: 529900S3ZI14OWRJII50 | Long             | EC               | CORP              | US        |      1956 | NS      | $637832.04    | 1.03%             |  |  |  | No            |                  1 | On Loan: No      |
| Dominos Pizza Inc.                       | Dominos Pizza Inc. COM USD0.01                        | CUSIP: 25754A201<br>LEI: 25490005ZWM1IF9UXU57 | Long             | EC               | CORP              | US        |       524 | NS      | $236114.40    | 0.38%             |  |  |  | No            |                  1 | On Loan: No      |
| Penumbra Inc.                            | Penumbra Inc. COM USD0.001                            | CUSIP: 70975L107<br>LEI: 549300RGE06P3ECANU72 | Long             | EC               | CORP              | US        |      2912 | NS      | $747306.56    | 1.20%             |  |  |  | No            |                  1 | On Loan: No      |
| Upstart Holdings Inc                     | Upstart Holdings Inc COM                              | CUSIP: 91680M107<br>LEI: 549300WNB47JRNENIC75 | Long             | EC               | CORP              | US        |      5892 | NS      | $381094.56    | 0.61%             |  |  |  | No            |                  1 | On Loan: No      |
| Toast Inc                                | Toast Inc CL A                                        | CUSIP: 888787108<br>LEI: 549300TN1PZNLCD4I551 | Long             | EC               | CORP              | US        |     11254 | NS      | $498439.66    | 0.80%             |  |  |  | No            |                  1 | On Loan: No      |
| Astera Labs Inc                          | Astera Labs Inc COM                                   | CUSIP: 04626A103<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     12970 | NS      | $1172747.40   | 1.89%             |  |  |  | No            |                  1 | On Loan: No      |
| UL Solutions Inc.                        | UL Solutions Inc. CLASS A COM SHS                     | CUSIP: 903731107<br>LEI: 549300F7CUV5ESKV9P71 | Long             | EC               | CORP              | US        |      7495 | NS      | $546085.70    | 0.88%             |  |  |  | No            |                  1 | On Loan: No      |
| Bridgebio Pharma Inc                     | Bridgebio Pharma Inc COM USD0.001                     | CUSIP: 10806X102<br>LEI: 54930028YG89VTY2J114 | Long             | EC               | CORP              | US        |      9083 | NS      | $392203.94    | 0.63%             |  |  |  | No            |                  1 | On Loan: No      |
| Affirm Holdings Inc                      | Affirm Holdings Inc COM CL A                          | CUSIP: 00827B106<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     12342 | NS      | $853325.88    | 1.37%             |  |  |  | No            |                  1 | On Loan: No      |
| Paymentus Holdings Inc                   | Paymentus Holdings Inc COM CL A                       | CUSIP: 70439P108<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     22239 | NS      | $728327.25    | 1.17%             |  |  |  | No            |                  1 | On Loan: No      |
| Monday.Com Limited                       | Monday.Com Limited SHS                                | CUSIP: M7S64H106<br>LEI: 984500MDAFVD86E3B328 | Long             | EC               | CORP              | IL        |      1632 | NS      | $513231.36    | 0.83%             |  |  |  | No            |                  1 | On Loan: No      |
| Sportradar Group AG                      | Sportradar Group AG CLASS A ORD SHS                   | CUSIP: H8088L103<br>LEI: 549300H1P33YOAT7Z533 | Long             | EC               | CORP              | CH        |     22101 | NS      | $620596.08    | 1.00%             |  |  |  | No            |                  1 | On Loan: No      |
| Weatherford International Plc            | Weatherford International Plc COM USD0.001            | CUSIP: G48833118<br>LEI: 529900LPBDSCQDJKHQ39 | Long             | EC               | CORP              | IE        |      4637 | NS      | $233287.47    | 0.38%             |  |  |  | No            |                  1 | On Loan: No      |
| Robinhood Markets Inc                    | Robinhood Markets Inc COM CL A                        | CUSIP: 770700102<br>LEI: 213800FS5AO3YWIE6F63 | Long             | EC               | CORP              | US        |     12347 | NS      | $1156049.61   | 1.86%             |  |  |  | No            |                  1 | On Loan: No      |
| Clearwater Analytics Holdings Inc        | Clearwater Analytics Holdings Inc CL A                | CUSIP: 185123106<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      6881 | NS      | $150900.33    | 0.24%             |  |  |  | No            |                  1 | On Loan: No      |
| TKO Group Holdings Inc.                  | TKO Group Holdings Inc. CL A                          | CUSIP: 87256C101<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      3784 | NS      | $688498.80    | 1.11%             |  |  |  | No            |                  1 | On Loan: No      |
| Amer Sports Inc.                         | Amer Sports Inc. COM SHS                              | CUSIP: G0260P102<br>LEI: 391200YCSWTRD1J21867 | Long             | EC               | CORP              | KY        |      7912 | NS      | $306669.12    | 0.49%             |  |  |  | No            |                  1 | On Loan: No      |
| StoneX Group Inc                         | StoneX Group Inc COM                                  | CUSIP: 861896108<br>LEI: 549300JUF07L8VF02M60 | Long             | EC               | CORP              | US        |      3132 | NS      | $285450.48    | 0.46%             |  |  |  | No            |                  1 | On Loan: No      |
| Duolingo Inc                             | Duolingo Inc CL A COM                                 | CUSIP: 26603R106<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      1157 | NS      | $474393.14    | 0.76%             |  |  |  | No            |                  1 | On Loan: No      |

### Signature

**Date Signed:** 2025-07-31

**Name of Applicant:** Driehaus Mutual Funds

**Signature:** Robert M. Kurinsky

**Name of Signer:** Robert M. Kurinsky

**Title:** Vice President and Treasurer