# EDGAR Filing Document

**Accession Number:** 0001016073
**File Stem:** 0002066578-26-000382
**Filing Date:** 2026-2
**Character Count:** 48834
**Document Hash:** 266bb262d6c14c6adc240277705406eb
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0002066578-26-000382.hdr.sgml**: 20260225

**ACCESSION NUMBER**: 0002066578-26-000382

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 1

**CONFORMED PERIOD OF REPORT**: 20251231

**FILED AS OF DATE**: 20260225

**DATE AS OF CHANGE**: 20260225

**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:** 26675211

**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 Micro Cap Growth Fund (Series ID: S000042829)

| Class ID   | Class Name                     | Ticker Symbol   |
|:---|:---|:---|
| C000132648 | Driehaus Micro Cap Growth Fund | DMCRX           |

## 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 Micro Cap Growth Fund

- **b. EDGAR series identifier (if any):** S000042829

- **c. LEI of Series:** 25490094BBGBJLBUT068

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

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

- **b. Date as of which information is reported:** 2025-12-31

**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:** $444399611.94

**Total Liabilities:** $583429.05

**Net Assets:** $443816182.89

**Cash Not Reported:** $3912.23

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000132648 | 11.46%               | -3.53%               | 1.39%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $25306621.07             | $25735042.34                               |
| Month 2  | $6126894.15              | $-23582712.49                              |
| Month 3  | $6862072.77              | $-330553.42                                |

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| Rush Street Interactive Inc               | Rush Street Interactive Inc COM                        | CUSIP: 782011100<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    331472 | NS      | $6440500.96   | 1.45%             |  |  |  | No            |                  1 | On Loan: No      |
| Mama's Creations, Inc                     | Mama's Creations, Inc COM                              | CUSIP: 56146T103<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    108544 | NS      | $1464258.56   | 0.33%             |  |  |  | No            |                  1 | On Loan: No      |
| Applied Digital Corp                      | Applied Digital Corp COM NEW                           | CUSIP: 038169207<br>LEI: 2549004NE2B6RYXINZ02 | Long             | EC               | CORP              | US        |     49192 | NS      | $1206187.84   | 0.27%             |  |  |  | No            |                  1 | On Loan: No      |
| Shoals Technologies Group Inc             | Shoals Technologies Group Inc CL A                     | CUSIP: 82489W107<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    214383 | NS      | $1822255.50   | 0.41%             |  |  |  | No            |                  1 | On Loan: No      |
| AbCellera Biologics Inc                   | AbCellera Biologics Inc COM                            | CUSIP: 00288U106<br>LEI: 9845000861BC95FF9F73 | Long             | EC               | CORP              | CA        |    247246 | NS      | $845581.32    | 0.19%             |  |  |  | No            |                  1 | On Loan: No      |
| GeneDx Holdings Corp                      | GeneDx Holdings Corp COM CL A                          | CUSIP: 81663L200<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     19736 | NS      | $2566864.16   | 0.58%             |  |  |  | No            |                  1 | On Loan: No      |
| Apogee Therapeutics Inc.                  | Apogee Therapeutics Inc. COM                           | CUSIP: 03770N101<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     62876 | NS      | $4745880.48   | 1.07%             |  |  |  | No            |                  1 | On Loan: No      |
| Porch Group Inc.                          | Porch Group Inc. COM                                   | CUSIP: 733245104<br>LEI: 549300NXEI7CVW8IXQ90 | Long             | EC               | CORP              | US        |    332594 | NS      | $3036583.22   | 0.68%             |  |  |  | No            |                  1 | On Loan: No      |
| Ligand Pharmaceuticals Incorporated       | Ligand Pharmaceuticals Incorporated 'B'COM USD0.001    | CUSIP: 53220K504<br>LEI: 5493008K7TB0IKP37H79 | Long             | EC               | CORP              | US        |     18725 | NS      | $3540335.75   | 0.80%             |  |  |  | No            |                  1 | On Loan: No      |
| Tactile Systems Technology Inc.           | Tactile Systems Technology Inc. COM USD0.001           | CUSIP: 87357P100<br>LEI: 54930069VDTITHOTKJ98 | Long             | EC               | CORP              | US        |     86609 | NS      | $2511661.00   | 0.57%             |  |  |  | No            |                  1 | On Loan: No      |
| Solaris Energy Infrastructure Inc         | Solaris Energy Infrastructure Inc COM USD0.01 CL A     | CUSIP: 83418M103<br>LEI: 529900MTK3C8Y8TIIC10 | Long             | EC               | CORP              | US        |     65744 | NS      | $3022251.68   | 0.68%             |  |  |  | No            |                  1 | On Loan: No      |
| Proto Labs Inc                            | Proto Labs Inc COM USD0.001                            | CUSIP: 743713109<br>LEI: 529900QHG5MGWT2WQQ09 | Long             | EC               | CORP              | US        |     58485 | NS      | $2958756.15   | 0.67%             |  |  |  | No            |                  1 | On Loan: No      |
| Applied Optoelectronics Inc               | Applied Optoelectronics Inc COM USD0.001               | CUSIP: 03823U102<br>LEI: 529900I8U6Q5SYDNLT48 | Long             | EC               | CORP              | US        |     77670 | NS      | $2707576.20   | 0.61%             |  |  |  | No            |                  1 | On Loan: No      |
| LCI Industries                            | LCI Industries COM USD0.01                             | CUSIP: 50189K103<br>LEI: 549300E1B98YNJ1WIQ04 | Long             | EC               | CORP              | US        |     18226 | NS      | $2211542.84   | 0.50%             |  |  |  | No            |                  1 | On Loan: No      |
| Cardinal Infrastructure Group Inc.        | Cardinal Infrastructure Group Inc. CL A                | CUSIP: 14154A102<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     77827 | NS      | $1881856.86   | 0.42%             |  |  |  | No            |                  1 | On Loan: No      |
| CommScope Holding Co Inc.                 | CommScope Holding Co Inc. COM USD0.01                  | CUSIP: 20337X109<br>LEI: 254900AW4CEPCQWSRI58 | Long             | EC               | CORP              | US        |    166432 | NS      | $3017412.16   | 0.68%             |  |  |  | No            |                  1 | On Loan: No      |
| Rhythm Pharmaceuticals Inc                | Rhythm Pharmaceuticals Inc COM USD0.001                | CUSIP: 76243J105<br>LEI: 529900JPNWXQ8DPLA551 | Long             | EC               | CORP              | US        |     48096 | NS      | $5148195.84   | 1.16%             |  |  |  | No            |                  1 | On Loan: No      |
| Cooper-Standard Holdings Inc.             | Cooper-Standard Holdings Inc. COM USD0.01              | CUSIP: 21676P103<br>LEI: 549300VVOH2RQP5YMB08 | Long             | EC               | CORP              | US        |     66926 | NS      | $2197180.58   | 0.50%             |  |  |  | No            |                  1 | On Loan: No      |
| Allient Inc                               | Allient Inc COM NPV                                    | CUSIP: 019330109<br>LEI: 549300I2LHAWYGNBPM97 | Long             | EC               | CORP              | US        |     59253 | NS      | $3184848.75   | 0.72%             |  |  |  | No            |                  1 | On Loan: No      |
| Andersen Group Inc.                       | Andersen Group Inc. CL A                               | CUSIP: 033853102<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    105538 | NS      | $2736600.34   | 0.62%             |  |  |  | No            |                  1 | On Loan: No      |
| Willdan Group Inc.                        | Willdan Group Inc. COM STK USD0.01                     | CUSIP: 96924N100<br>LEI: 529900YQO0LF5VAEKN05 | Long             | EC               | CORP              | US        |     32240 | NS      | $3341998.40   | 0.75%             |  |  |  | No            |                  1 | On Loan: No      |
| Xenon Pharmaceuticals Inc                 | Xenon Pharmaceuticals Inc COM NPV                      | CUSIP: 98420N105<br>LEI: 549300XV44Q9Z1MIPQ03 | Long             | EC               | CORP              | CA        |    113158 | NS      | $5071741.56   | 1.14%             |  |  |  | No            |                  1 | On Loan: No      |
| Neogenomics Inc                           | Neogenomics Inc COM NPV                                | CUSIP: 64049M209<br>LEI: 549300KN62PPGHBVXB46 | Long             | EC               | CORP              | US        |    292394 | NS      | $3438553.44   | 0.77%             |  |  |  | No            |                  1 | On Loan: No      |
| Wave Life Sciences Ltd.                   | Wave Life Sciences Ltd. COM NPV                        | CUSIP: Y95308105<br>LEI: 54930070006GPKFYZ813 | Long             | EC               | CORP              | SG        |    235274 | NS      | $3999658.00   | 0.90%             |  |  |  | No            |                  1 | On Loan: No      |
| National Vision Holdings Inc              | National Vision Holdings Inc COM USD0.01               | CUSIP: 63845R107<br>LEI: 549300JHURCBLI5ROA42 | Long             | EC               | CORP              | US        |    183680 | NS      | $4742617.60   | 1.07%             |  |  |  | No            |                  1 | On Loan: No      |
| HCI Group, Inc.                           | HCI Group, Inc. COM NPV                                | CUSIP: 40416E103<br>LEI: 549300CZF7EZJH0MPH74 | Long             | EC               | CORP              | US        |     15017 | NS      | $2878608.73   | 0.65%             |  |  |  | No            |                  1 | On Loan: No      |
| Ameresco Inc                              | Ameresco Inc COM USD0.0001 CL 'A'                      | CUSIP: 02361E108<br>LEI: 529900NZXZGBCBXYY327 | Long             | EC               | CORP              | US        |     77237 | NS      | $2262271.73   | 0.51%             |  |  |  | No            |                  1 | On Loan: No      |
| Precigen Inc                              | Precigen Inc COM                                       | CUSIP: 74017N105<br>LEI: 549300XCWNQU35K64G19 | Long             | EC               | CORP              | US        |    551211 | NS      | $2304061.98   | 0.52%             |  |  |  | No            |                  1 | On Loan: No      |
| Tarsus Pharmaceuticals Inc                | Tarsus Pharmaceuticals Inc COM                         | CUSIP: 87650L103<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     64287 | NS      | $5263819.56   | 1.19%             |  |  |  | No            |                  1 | On Loan: No      |
| Eos Energy Enterprises Inc.               | Eos Energy Enterprises Inc. COM CL A                   | CUSIP: 29415C101<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    517961 | NS      | $5935833.06   | 1.34%             |  |  |  | No            |                  1 | On Loan: No      |
| NeuroPace Inc                             | NeuroPace Inc COM                                      | CUSIP: 641288105<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    175588 | NS      | $2711078.72   | 0.61%             |  |  |  | No            |                  1 | On Loan: No      |
| National Energy Services Reunited Corp.   | National Energy Services Reunited Corp. COM NPV        | CUSIP: G6375R107<br>LEI: N/A                  | Long             | EC               | CORP              | VG        |    228448 | NS      | $3577495.68   | 0.81%             |  |  |  | No            |                  1 | On Loan: No      |
| Helios Technologies Inc                   | Helios Technologies Inc COM USD0.001                   | CUSIP: 42328H109<br>LEI: 5493000BCJSMIDRNTI78 | Long             | EC               | CORP              | US        |     45221 | NS      | $2418871.29   | 0.55%             |  |  |  | No            |                  1 | On Loan: No      |
| Vital Farms Inc.                          | Vital Farms Inc. COM                                   | CUSIP: 92847W103<br>LEI: 549300S6NYY7ER3XOT61 | Long             | EC               | CORP              | US        |     39360 | NS      | $1257158.40   | 0.28%             |  |  |  | No            |                  1 | On Loan: No      |
| Ivanhoe Electric Inc                      | Ivanhoe Electric Inc COM                               | CUSIP: 46578C108<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    321929 | NS      | $5144425.42   | 1.16%             |  |  |  | No            |                  1 | On Loan: No      |
| Alphatec Holdings Inc.                    | Alphatec Holdings Inc. COM USD0.0001                   | CUSIP: 02081G201<br>LEI: 549300EZE8CQ8K65FS24 | Long             | EC               | CORP              | US        |    208397 | NS      | $4384672.88   | 0.99%             |  |  |  | No            |                  1 | On Loan: No      |
| The Realreal Inc                          | The Realreal Inc COM USD0.00001                        | CUSIP: 88339P101<br>LEI: 549300O00VUGT4H1PE90 | Long             | EC               | CORP              | US        |    457454 | NS      | $7218624.12   | 1.63%             |  |  |  | No            |                  1 | On Loan: No      |
| Sitime Corporation                        | Sitime Corporation COM                                 | CUSIP: 82982T106<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     10508 | NS      | $3711320.52   | 0.84%             |  |  |  | No            |                  1 | On Loan: No      |
| Arcutis Biotherapeutics Inc.              | Arcutis Biotherapeutics Inc. COM                       | CUSIP: 03969K108<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    162323 | NS      | $4713859.92   | 1.06%             |  |  |  | No            |                  1 | On Loan: No      |
| Perpetua Resources Corp                   | Perpetua Resources Corp COM                            | CUSIP: 714266103<br>LEI: 529900BQBMS383SEPY05 | Long             | EC               | CORP              | CA        |    146401 | NS      | $3544368.21   | 0.80%             |  |  |  | No            |                  1 | On Loan: No      |
| Xometry Inc                               | Xometry Inc CLASS A COM                                | CUSIP: 98423F109<br>LEI: 5493006JFRGU7YRRXE44 | Long             | EC               | CORP              | US        |    109003 | NS      | $6482408.41   | 1.46%             |  |  |  | No            |                  1 | On Loan: No      |
| Invivyd Inc                               | Invivyd Inc COM                                        | CUSIP: 00534A102<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    844335 | NS      | $2085507.45   | 0.47%             |  |  |  | No            |                  1 | On Loan: No      |
| Lending Club Corporation                  | Lending Club Corporation COM USD0.01(POST REV SPLIT)   | CUSIP: 52603A208<br>LEI: 549300YC50YO7Y1OJR92 | Long             | EC               | CORP              | US        |    192902 | NS      | $3653563.88   | 0.82%             |  |  |  | No            |                  1 | On Loan: No      |
| Adaptive Biotechnologies Corp             | Adaptive Biotechnologies Corp COM USD0.0001            | CUSIP: 00650F109<br>LEI: 549300ZTF7OT1FW66Q96 | Long             | EC               | CORP              | US        |    335436 | NS      | $5447480.64   | 1.23%             |  |  |  | No            |                  1 | On Loan: No      |
| Planet Labs Pbc                           | Planet Labs Pbc COM CL A                               | CUSIP: 72703X106<br>LEI: 254900Q7PVI3HTQBRB44 | Long             | EC               | CORP              | US        |    355874 | NS      | $7017835.28   | 1.58%             |  |  |  | No            |                  1 | On Loan: No      |
| Lightpath Technologies Inc.               | Lightpath Technologies Inc. COM USD0.01 CL'A'          | CUSIP: 532257805<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    281931 | NS      | $3044854.80   | 0.69%             |  |  |  | No            |                  1 | On Loan: No      |
| Centrus Energy Corp.                      | Centrus Energy Corp. CL A                              | CUSIP: 15643U104<br>LEI: 549300G6VDK9G8276661 | Long             | EC               | CORP              | US        |     17373 | NS      | $4217469.48   | 0.95%             |  |  |  | No            |                  1 | On Loan: No      |
| American Superconductor Corp.             | American Superconductor Corp. COM USD0.01              | CUSIP: 030111207<br>LEI: 549300S9YT8Z8LOK4452 | Long             | EC               | CORP              | US        |     76519 | NS      | $2202216.82   | 0.50%             |  |  |  | No            |                  1 | On Loan: No      |
| Babcock & Wilcox Enterprises Inc.         | Babcock & Wilcox Enterprises Inc. COM USD0.01          | CUSIP: 05614L209<br>LEI: 5493006H661OZN2C0T54 | Long             | EC               | CORP              | US        |    348199 | NS      | $2207581.66   | 0.50%             |  |  |  | No            |                  1 | On Loan: No      |
| ThredUP Inc.                              | ThredUP Inc. CL A                                      | CUSIP: 88556E102<br>LEI: 549300JKGKTKX3L3XK25 | Long             | EC               | CORP              | US        |    331144 | NS      | $2116010.16   | 0.48%             |  |  |  | No            |                  1 | On Loan: No      |
| Mercury Systems Inc                       | Mercury Systems Inc COM USD0.01                        | CUSIP: 589378108<br>LEI: 549300P3B84SGK7HH679 | Long             | EC               | CORP              | US        |     46514 | NS      | $3395987.14   | 0.77%             |  |  |  | No            |                  1 | On Loan: No      |
| Artivion Inc                              | Artivion Inc COM USD0.01                               | CUSIP: 228903100<br>LEI: 549300YTKV8DMSMG6K81 | Long             | EC               | CORP              | US        |     79219 | NS      | $3613178.59   | 0.81%             |  |  |  | No            |                  1 | On Loan: No      |
| IMAX Corporation                          | IMAX Corporation COM NPV                               | CUSIP: 45245E109<br>LEI: 5493002KS2T1Q0X7VZ21 | Long             | EC               | CORP              | CA        |    156574 | NS      | $5786975.04   | 1.30%             |  |  |  | No            |                  1 | On Loan: No      |
| Frequency Electronics Inc.                | Frequency Electronics Inc. COM USD1                    | CUSIP: 358010106<br>LEI: 549300S56SO2JB5JBE31 | Long             | EC               | CORP              | US        |     48194 | NS      | $2594764.96   | 0.58%             |  |  |  | No            |                  1 | On Loan: No      |
| Powell Industries Inc.                    | Powell Industries Inc. COM USD0.01                     | CUSIP: 739128106<br>LEI: 549300V08RO7MX2UBN26 | Long             | EC               | CORP              | US        |      4122 | NS      | $1314011.16   | 0.30%             |  |  |  | No            |                  1 | On Loan: No      |
| Standex International Corp                | Standex International Corp COM USD1.50                 | CUSIP: 854231107<br>LEI: RCX52GR0JW2LRRMH9Z54 | Long             | EC               | CORP              | US        |     13251 | NS      | $2879177.28   | 0.65%             |  |  |  | No            |                  1 | On Loan: No      |
| TETRA Technologies Inc.                   | TETRA Technologies Inc. COM USD0.01                    | CUSIP: 88162F105<br>LEI: 549300T5W131705EK832 | Long             | EC               | CORP              | US        |    569012 | NS      | $5331642.44   | 1.20%             |  |  |  | No            |                  1 | On Loan: No      |
| IAMGOLD Corp                              | IAMGOLD Corp COM NPV                                   | CUSIP: 450913108<br>LEI: 254900E7II30XAB9LA72 | Long             | EC               | CORP              | CA        |    356928 | NS      | $5885742.72   | 1.33%             |  |  |  | No            |                  1 | On Loan: No      |
| Agilysys Inc                              | Agilysys Inc COM NPV                                   | CUSIP: 00847J105<br>LEI: 5299001XWB5V3B5IPN93 | Long             | EC               | CORP              | US        |     22847 | NS      | $2715137.48   | 0.61%             |  |  |  | No            |                  1 | On Loan: No      |
| Universal Technical Institute, Inc.       | Universal Technical Institute, Inc. COM USD0.0001      | CUSIP: 913915104<br>LEI: 2549003YOJGAZ0PVFV48 | Long             | EC               | CORP              | US        |     56477 | NS      | $1475744.01   | 0.33%             |  |  |  | No            |                  1 | On Loan: No      |
| DXP Enterprises Inc.                      | DXP Enterprises Inc. COM USD0.01                       | CUSIP: 233377407<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     19335 | NS      | $2122789.65   | 0.48%             |  |  |  | No            |                  1 | On Loan: No      |
| Innodata Inc                              | Innodata Inc COM NEW                                   | CUSIP: 457642205<br>LEI: L9O7MPYIT56T6KBE0R95 | Long             | EC               | CORP              | US        |     31655 | NS      | $1612822.25   | 0.36%             |  |  |  | No            |                  1 | On Loan: No      |
| Power Solutions International, Inc.       | Power Solutions International, Inc. COM NEW            | CUSIP: 73933G202<br>LEI: 549300JWGWDXC70SNH31 | Long             | EC               | CORP              | US        |     35068 | NS      | $2003785.52   | 0.45%             |  |  |  | No            |                  1 | On Loan: No      |
| LIncoln Educational Services Corp.        | LIncoln Educational Services Corp. COM                 | CUSIP: 533535100<br>LEI: 549300BJ55KUY6RG7L98 | Long             | EC               | CORP              | US        |     67950 | NS      | $1640992.50   | 0.37%             |  |  |  | No            |                  1 | On Loan: No      |
| Silicon Motion Technology Corp.           | Silicon Motion Technology Corp. SPONS ADR EA REP 4 COM | CUSIP: 82706C108<br>LEI: 5299005RBVBZQJTYFC89 | Long             | EC               | CORP              | KY        |     48910 | NS      | $4533957.00   | 1.02%             |  |  |  | No            |                  1 | On Loan: No      |
| WisdomTree, Inc.                          | WisdomTree, Inc. COM USD0.01                           | CUSIP: 97717P104<br>LEI: 549300WIU8IS7UFO7871 | Long             | EC               | CORP              | US        |    134035 | NS      | $1633886.65   | 0.37%             |  |  |  | No            |                  1 | On Loan: No      |
| Indivior PLC                              | Indivior PLC ORD USD0.5                                | CUSIP: G4766E116<br>LEI: 213800V3NCQTY7IED471 | Long             | EC               | CORP              | GB        |    137416 | NS      | $4930486.08   | 1.11%             |  |  |  | No            |                  1 | On Loan: No      |
| Bright Minds Biosciences Inc              | Bright Minds Biosciences Inc COM NEW                   | CUSIP: 10919W405<br>LEI: N/A                  | Long             | EC               | CORP              | CA        |     30847 | NS      | $2407299.88   | 0.54%             |  |  |  | No            |                  1 | On Loan: No      |
| Uranium Energy Corp.                      | Uranium Energy Corp. COM USD0.001                      | CUSIP: 916896103<br>LEI: 549300VD69WD2USLIP04 | Long             | EC               | CORP              | US        |    410212 | NS      | $4791276.16   | 1.08%             |  |  |  | No            |                  1 | On Loan: No      |
| VSE Corp.                                 | VSE Corp. COM STK USD0.05                              | CUSIP: 918284100<br>LEI: 549300QWJYQDH4U5XI15 | Long             | EC               | CORP              | US        |     27927 | NS      | $4824947.79   | 1.09%             |  |  |  | No            |                  1 | On Loan: No      |
| Astronics Corp.                           | Astronics Corp. COM USD0.01                            | CUSIP: 046433108<br>LEI: 549300NNXCF8H4MSMK17 | Long             | EC               | CORP              | US        |    102020 | NS      | $5533564.80   | 1.25%             |  |  |  | No            |                  1 | On Loan: No      |
| CECO Environmental Corp.                  | CECO Environmental Corp. COM USD0.01                   | CUSIP: 125141101<br>LEI: 5493002CZCTL4HGLIY91 | Long             | EC               | CORP              | US        |     88762 | NS      | $5312405.70   | 1.20%             |  |  |  | No            |                  1 | On Loan: No      |
| United States Antimony Corp               | United States Antimony Corp COM                        | CUSIP: 911549103<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    198008 | NS      | $994000.16    | 0.22%             |  |  |  | No            |                  1 | On Loan: No      |
| Kestra Medical Technologies Ltd.          | Kestra Medical Technologies Ltd. SHS                   | CUSIP: G52441105<br>LEI: N/A                  | Long             | EC               | CORP              | BM        |     70877 | NS      | $1879658.04   | 0.42%             |  |  |  | No            |                  1 | On Loan: No      |
| Almonty Industries Inc                    | Almonty Industries Inc COM NEW                         | CUSIP: 020398707<br>LEI: 54930049R1BTGV5RJ021 | Long             | EC               | CORP              | CA        |    411498 | NS      | $3625297.38   | 0.82%             |  |  |  | No            |                  1 | On Loan: No      |
| American Public Education Inc.            | American Public Education Inc. COM STK USD0.01         | CUSIP: 02913V103<br>LEI: 254900GZNX6TJQGM4S17 | Long             | EC               | CORP              | US        |     70299 | NS      | $2657302.20   | 0.60%             |  |  |  | No            |                  1 | On Loan: No      |
| Argan Inc                                 | Argan Inc COM STK USD0.15                              | CUSIP: 04010E109<br>LEI: 529900E4KZWBV9KGBS83 | Long             | EC               | CORP              | US        |      3649 | NS      | $1143304.68   | 0.26%             |  |  |  | No            |                  1 | On Loan: No      |
| ANI Pharmaceuticals Inc.                  | ANI Pharmaceuticals Inc. COM USD0.0001                 | CUSIP: 00182C103<br>LEI: 5493000T6CXTND40YH31 | Long             | EC               | CORP              | US        |     11788 | NS      | $930544.72    | 0.21%             |  |  |  | No            |                  1 | On Loan: No      |
| Genius Sports Ltd.                        | Genius Sports Ltd. COM NPV                             | CUSIP: G3934V109<br>LEI: N/A                  | Long             | EC               | CORP              | GG        |    159081 | NS      | $1753072.62   | 0.39%             |  |  |  | No            |                  1 | On Loan: No      |
| Amylyx Pharmaceuticals Inc                | Amylyx Pharmaceuticals Inc COM                         | CUSIP: 03237H101<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    233305 | NS      | $2818324.40   | 0.64%             |  |  |  | No            |                  1 | On Loan: No      |
| The Vita Coco Company Inc                 | The Vita Coco Company Inc COM                          | CUSIP: 92846Q107<br>LEI: 54930020WXOAWHR85Y25 | Long             | EC               | CORP              | US        |    109167 | NS      | $5786942.67   | 1.30%             |  |  |  | No            |                  1 | On Loan: No      |
| Edgewise Therapeutics Inc.                | Edgewise Therapeutics Inc. COM                         | CUSIP: 28036F105<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    185366 | NS      | $4599857.29   | 1.04%             |  |  |  | No            |                  1 | On Loan: No      |
| Latham Group Inc                          | Latham Group Inc COM                                   | CUSIP: 51819L107<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    313095 | NS      | $1988153.25   | 0.45%             |  |  |  | No            |                  1 | On Loan: No      |
| FIGS Inc                                  | FIGS Inc CL A                                          | CUSIP: 30260D103<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    312780 | NS      | $3553180.80   | 0.80%             |  |  |  | No            |                  1 | On Loan: No      |
| Evolv Technologies Holdings Inc.          | Evolv Technologies Holdings Inc. COM CL A              | CUSIP: 30049H102<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    568341 | NS      | $4069321.56   | 0.92%             |  |  |  | No            |                  1 | On Loan: No      |
| Cipher Mining Inc                         | Cipher Mining Inc COM                                  | CUSIP: 17253J106<br>LEI: 254900QABG5HCQZ28A17 | Long             | EC               | CORP              | US        |     94767 | NS      | $1398760.92   | 0.32%             |  |  |  | No            |                  1 | On Loan: No      |
| Xeris Biopharma Holdings Inc              | Xeris Biopharma Holdings Inc COM                       | CUSIP: 98422E103<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    405250 | NS      | $3181212.50   | 0.72%             |  |  |  | No            |                  1 | On Loan: No      |
| Structure Therapeutics Inc                | Structure Therapeutics Inc SPONSORED ADS               | CUSIP: 86366E106<br>LEI: N/A                  | Long             | EC               | CORP              | KY        |     84962 | NS      | $5909107.10   | 1.33%             |  |  |  | No            |                  1 | On Loan: No      |
| Protagonist Therapeutics Inc              | Protagonist Therapeutics Inc COM USD0.00001            | CUSIP: 74366E102<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     63867 | NS      | $5578143.78   | 1.26%             |  |  |  | No            |                  1 | On Loan: No      |
| Tandem Diabetes Care Inc                  | Tandem Diabetes Care Inc COM USD0.001(POST REV SPLT)   | CUSIP: 875372203<br>LEI: 549300JEPFOD0K4D3I05 | Long             | EC               | CORP              | US        |    183509 | NS      | $4033527.82   | 0.91%             |  |  |  | No            |                  1 | On Loan: No      |
| Scholar Rock Holding Corp.                | Scholar Rock Holding Corp. COM USD0.001                | CUSIP: 80706P103<br>LEI: 549300Z1FLPGL4OWJ459 | Long             | EC               | CORP              | US        |     98705 | NS      | $4347955.25   | 0.98%             |  |  |  | No            |                  1 | On Loan: No      |
| Exzeo Group Inc.                          | Exzeo Group Inc. COM SHS                               | CUSIP: 30234F101<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     83931 | NS      | $2035326.75   | 0.46%             |  |  |  | No            |                  1 | On Loan: No      |
| Celcuity Inc.                             | Celcuity Inc. COM USD0.001                             | CUSIP: 15102K100<br>LEI: 25490070W7UU7W2SEY87 | Long             | EC               | CORP              | US        |     38271 | NS      | $3817149.54   | 0.86%             |  |  |  | No            |                  1 | On Loan: No      |
| Crinetics Pharmaceuticals Inc.            | Crinetics Pharmaceuticals Inc. COM USD0.001            | CUSIP: 22663K107<br>LEI: 549300Q1CNFXK5P31D28 | Long             | EC               | CORP              | US        |    173960 | NS      | $8097838.00   | 1.82%             |  |  |  | No            |                  1 | On Loan: No      |
| Miami International Holdings Inc.         | Miami International Holdings Inc. COM                  | CUSIP: 59356Q108<br>LEI: 254900TREUDBWGLAP788 | Long             | EC               | CORP              | US        |     81490 | NS      | $3616526.20   | 0.81%             |  |  |  | No            |                  1 | On Loan: No      |
| Tidewater Inc New                         | Tidewater Inc New COM USD0.001                         | CUSIP: 88642R109<br>LEI: 2549000JA5GRUPLMUH98 | Long             | EC               | CORP              | US        |     22656 | NS      | $1144354.56   | 0.26%             |  |  |  | No            |                  1 | On Loan: No      |
| Liberty Energy Inc                        | Liberty Energy Inc COM USD0.01 CL A                    | CUSIP: 53115L104<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    108281 | NS      | $1998867.26   | 0.45%             |  |  |  | No            |                  1 | On Loan: No      |
| Construction Partners Inc.                | Construction Partners Inc. COM USD0.001 CL A           | CUSIP: 21044C107<br>LEI: 549300MHLFL4E8JLZU44 | Long             | EC               | CORP              | US        |     33230 | NS      | $3607116.50   | 0.81%             |  |  |  | No            |                  1 | On Loan: No      |
| Pattern Group Inc.                        | Pattern Group Inc. COM SER A                           | CUSIP: 70339W104<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     94288 | NS      | $1088083.52   | 0.25%             |  |  |  | No            |                  1 | On Loan: No      |
| Ultra Clean Holdings Inc                  | Ultra Clean Holdings Inc COM USD0.001                  | CUSIP: 90385V107<br>LEI: 5493007L6LS7QX18PE75 | Long             | EC               | CORP              | US        |     69420 | NS      | $1758408.60   | 0.40%             |  |  |  | No            |                  1 | On Loan: No      |
| Graham Corp                               | Graham Corp COM STK USD0.10                            | CUSIP: 384556106<br>LEI: 254900EI9P4LTY524J77 | Long             | EC               | CORP              | US        |     54346 | NS      | $3490643.58   | 0.79%             |  |  |  | No            |                  1 | On Loan: No      |
| MYR Grp Inc                               | MYR Grp Inc COM USD0.01                                | CUSIP: 55405W104<br>LEI: 529900G1IMMZHOQ17I54 | Long             | EC               | CORP              | US        |     13494 | NS      | $2948439.00   | 0.66%             |  |  |  | No            |                  1 | On Loan: No      |
| OPENLANE Inc                              | OPENLANE Inc COM USD0.01                               | CUSIP: 48238T109<br>LEI: 5493004HKD20LBSG7D03 | Long             | EC               | CORP              | US        |     90022 | NS      | $2680855.16   | 0.60%             |  |  |  | No            |                  1 | On Loan: No      |
| TransMedics Group Inc.                    | TransMedics Group Inc. COM NPV                         | CUSIP: 89377M109<br>LEI: 549300060GVOSMWARH50 | Long             | EC               | CORP              | US        |     23949 | NS      | $2913395.85   | 0.66%             |  |  |  | No            |                  1 | On Loan: No      |
| Fastly Inc.                               | Fastly Inc. COM USD0.00002 CL A                        | CUSIP: 31188V100<br>LEI: 549300E2FZC83FJ3H565 | Long             | EC               | CORP              | US        |    211994 | NS      | $2158098.92   | 0.49%             |  |  |  | No            |                  1 | On Loan: No      |
| Black Rock Coffee Bar Inc.                | Black Rock Coffee Bar Inc. CL A                        | CUSIP: 092244102<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     51325 | NS      | $1141981.25   | 0.26%             |  |  |  | No            |                  1 | On Loan: No      |
| Lindblad Expeditions Holdings Inc.        | Lindblad Expeditions Holdings Inc. COM USD0.0001       | CUSIP: 535219109<br>LEI: 549300GSPW24GZE6R597 | Long             | EC               | CORP              | US        |     86176 | NS      | $1242657.92   | 0.28%             |  |  |  | No            |                  1 | On Loan: No      |
| Coastal Financial Corp.                   | Coastal Financial Corp. COM NPV                        | CUSIP: 19046P209<br>LEI: 549300XG5L36T6IU0B47 | Long             | EC               | CORP              | US        |     52703 | NS      | $6039236.77   | 1.36%             |  |  |  | No            |                  1 | On Loan: No      |
| Energy Fuels Inc.                         | Energy Fuels Inc. COM NPV                              | CUSIP: 292671708<br>LEI: 529900P0GCATXMGK8I62 | Long             | EC               | CORP              | CA        |    201480 | NS      | $2929519.20   | 0.66%             |  |  |  | No            |                  1 | On Loan: No      |
| Arlo Technologies Inc                     | Arlo Technologies Inc COM USD0.001                     | CUSIP: 04206A101<br>LEI: 549300T4EUX2OQ75HV52 | Long             | EC               | CORP              | US        |    299004 | NS      | $4183065.96   | 0.94%             |  |  |  | No            |                  1 | On Loan: No      |
| Nlight Inc.                               | Nlight Inc. COM USD0.0001                              | CUSIP: 65487K100<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    112121 | NS      | $4205658.71   | 0.95%             |  |  |  | No            |                  1 | On Loan: No      |
| Northern Institutional Funds              | Northern Institutional Funds GOVT SELECT PT            | CUSIP: 665278701<br>LEI: 549300Y178DO5JBR1S04 | Long             | STIV             | RF                | US        |    883814 | NS      | $883814.12    | 0.20%             |  |  |  | No            |                  1 | On Loan: No      |
| TAT Technologies                          | TAT Technologies ORD NEW                               | CUSIP: M8740S227<br>LEI: N/A                  | Long             | EC               | CORP              | IL        |     49559 | NS      | $2213304.94   | 0.50%             |  |  |  | No            |                  1 | On Loan: No      |
| Spyre Therapeutics Inc                    | Spyre Therapeutics Inc COM NEW                         | CUSIP: 00773J202<br>LEI: 52990017AIJPRH3HQH40 | Long             | EC               | CORP              | US        |    109436 | NS      | $3585123.36   | 0.81%             |  |  |  | No            |                  1 | On Loan: No      |
| Kiniksa Pharmaceuticals International PLC | Kiniksa Pharmaceuticals International PLC ORD SHS CL A | CUSIP: G52694109<br>LEI: N/A                  | Long             | EC               | CORP              | GB        |     96868 | NS      | $3995805.00   | 0.90%             |  |  |  | No            |                  1 | On Loan: No      |
| Beta Bionics Inc.                         | Beta Bionics Inc. COM                                  | CUSIP: 08659B102<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    115245 | NS      | $3511515.15   | 0.79%             |  |  |  | No            |                  1 | On Loan: No      |
| T1 Energy Inc.                            | T1 Energy Inc. COM NEW                                 | CUSIP: 35834F104<br>LEI: 529900H0645VFXNMJ693 | Long             | EC               | CORP              | US        |    129152 | NS      | $862735.36    | 0.19%             |  |  |  | No            |                  1 | On Loan: No      |
| Guardian Pharmacy Services Inc.           | Guardian Pharmacy Services Inc. CL A                   | CUSIP: 40145W101<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     77519 | NS      | $2332546.71   | 0.53%             |  |  |  | No            |                  1 | On Loan: No      |
| Karman Holdings Inc.                      | Karman Holdings Inc. COMMON STOCK                      | CUSIP: 485924104<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     35918 | NS      | $2628120.06   | 0.59%             |  |  |  | No            |                  1 | On Loan: No      |
| Mind Medicine (MindMed) Inc.              | Mind Medicine (MindMed) Inc. COM NEW                   | CUSIP: 60255C885<br>LEI: 549300QY8KN1O6RPFJ13 | Long             | EC               | CORP              | CA        |    352973 | NS      | $4726308.47   | 1.06%             |  |  |  | No            |                  1 | On Loan: No      |
| Praxis Precision Medicines Inc            | Praxis Precision Medicines Inc COM NEW                 | CUSIP: 74006W207<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     39846 | NS      | $11744210.04  | 2.65%             |  |  |  | No            |                  1 | On Loan: No      |
| Innventure Inc                            | Innventure Inc COM                                     | CUSIP: 45784M108<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    192468 | NS      | $804516.24    | 0.18%             |  |  |  | No            |                  1 | On Loan: No      |
| Septerna Inc.                             | Septerna Inc. COM                                      | CUSIP: 81734D104<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    158707 | NS      | $4424751.16   | 1.00%             |  |  |  | No            |                  1 | On Loan: No      |
| Immunome Inc                              | Immunome Inc COM                                       | CUSIP: 45257U108<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    273663 | NS      | $5878281.24   | 1.32%             |  |  |  | No            |                  1 | On Loan: No      |
| Amprius Technologies Inc.                 | Amprius Technologies Inc. COMMON STOCK                 | CUSIP: 03214Q108<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    366093 | NS      | $2888473.77   | 0.65%             |  |  |  | No            |                  1 | On Loan: No      |
| Perimeter Solutions Inc.                  | Perimeter Solutions Inc. COMMON STOCK                  | CUSIP: 71385M107<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    133117 | NS      | $3664711.01   | 0.83%             |  |  |  | No            |                  1 | On Loan: No      |
| Dave Inc                                  | Dave Inc CLASS A COM NEW                               | CUSIP: 23834J201<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     21272 | NS      | $4709833.52   | 1.06%             |  |  |  | No            |                  1 | On Loan: No      |
| Hut 8 Corp.                               | Hut 8 Corp. COM                                        | CUSIP: 44812J104<br>LEI: 98450066FEF9C1D3FC20 | Long             | EC               | CORP              | US        |     33309 | NS      | $1530215.46   | 0.34%             |  |  |  | No            |                  1 | On Loan: No      |
| Terawulf Inc                              | Terawulf Inc COM                                       | CUSIP: 88080T104<br>LEI: 254900CVMW1SX2T78A64 | Long             | EC               | CORP              | US        |    520790 | NS      | $5983877.10   | 1.35%             |  |  |  | No            |                  1 | On Loan: No      |
| MBX Biosciences, Inc.                     | MBX Biosciences, Inc. COM                              | CUSIP: 55287L101<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    137980 | NS      | $4351889.20   | 0.98%             |  |  |  | No            |                  1 | On Loan: No      |
| Flotek Industries, Inc.                   | Flotek Industries, Inc. COM NEW                        | CUSIP: 343389409<br>LEI: 549300TF60OEK4FPPC44 | Long             | EC               | CORP              | US        |    127440 | NS      | $2195791.20   | 0.49%             |  |  |  | No            |                  1 | On Loan: No      |

### Signature

**Date Signed:** 2026-01-30

**Name of Applicant:** Driehaus Mutual Funds

**Signature:** Robert M. Kurinsky

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

**Title:** Vice President and Treasurer