# EDGAR Filing Document

**Accession Number:** 0001016073
**File Stem:** 0002066578-26-000384
**Filing Date:** 2026-2
**Character Count:** 44819
**Document Hash:** e5d12f8417d45e4c9b49cf1ee5eed30e
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0002066578-26-000384.hdr.sgml**: 20260225

**ACCESSION NUMBER**: 0002066578-26-000384

**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:** 26675213

**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 Cap Growth Fund (Series ID: S000058261)

| Class ID   | Class Name                | Ticker Symbol   |
|:---|:---|:---|
| C000190998 | Investor Share Class      | DVSMX           |
| C000190999 | Institutional Share Class | DNSMX           |

## 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 Cap Growth Fund

- **b. EDGAR series identifier (if any):** S000058261

- **c. LEI of Series:** 254900CG1SF0Y3TR2D13

**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:** $1153267039.52

**Total Liabilities:** $850674.00

**Net Assets:** $1152416365.52

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000190998 | 7.14%                | -0.26%               | -1.38%               |
| Class ID C000190999 | 7.14%                | -0.25%               | -1.29%               |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $31753392.81             | $50229490.21                               |
| Month 2  | $19649630.75             | $-23329269.94                              |
| Month 3  | $9073107.17              | $-24203424.78                              |

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| Kratos Defense & Security Solutions, Inc. | Kratos Defense & Security Solutions, Inc. COM USD0.001 | CUSIP: 50077B207<br>LEI: 5493000EKBN0UY1F3F88 | Long             | EC               | CORP              | US        |     83466 | NS      | $6335904.06   | 0.55%             |  |  |  | No            |                  1 | On Loan: No      |
| Embraer S.A.                              | Embraer S.A. SPON ADS EACH REP 4 ORD SHS               | CUSIP: 29082A107<br>LEI: 549300EM51WYXFHUY333 | Long             | EC               | CORP              | BR        |    139792 | NS      | $8998411.04   | 0.78%             |  |  |  | No            |                  1 | On Loan: No      |
| Alkermes PLC                              | Alkermes PLC COM USD0.01                               | CUSIP: G01767105<br>LEI: N/A                  | Long             | EC               | CORP              | IE        |    153948 | NS      | $4307465.04   | 0.37%             |  |  |  | No            |                  1 | On Loan: No      |
| Rush Street Interactive Inc               | Rush Street Interactive Inc COM                        | CUSIP: 782011100<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    350049 | NS      | $6801452.07   | 0.59%             |  |  |  | No            |                  1 | On Loan: No      |
| SPX Technologies, Inc.                    | SPX Technologies, Inc. COM                             | CUSIP: 78473E103<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     83046 | NS      | $16614182.76  | 1.44%             |  |  |  | No            |                  1 | On Loan: No      |
| OSI System Inc.                           | OSI System Inc. COM NPV                                | CUSIP: 671044105<br>LEI: DDX3MPX1Y8YD30050X33 | Long             | EC               | CORP              | US        |     45565 | NS      | $11621808.90  | 1.01%             |  |  |  | No            |                  1 | On Loan: No      |
| Curtiss-Wright Corp.                      | Curtiss-Wright Corp. COM USD1                          | CUSIP: 231561101<br>LEI: TEL51ETZWP7D0ZM4X325 | Long             | EC               | CORP              | US        |     28557 | NS      | $15742617.39  | 1.37%             |  |  |  | No            |                  1 | On Loan: No      |
| MP Materials Corp                         | MP Materials Corp COM CL A                             | CUSIP: 553368101<br>LEI: 89450063PHPS61USMT84 | Long             | EC               | CORP              | US        |    104446 | NS      | $5276611.92   | 0.46%             |  |  |  | No            |                  1 | On Loan: No      |
| Travel Plus Leisure Co                    | Travel Plus Leisure Co COM                             | CUSIP: 894164102<br>LEI: T4VNTWMFQ7JQB65L7T35 | Long             | EC               | CORP              | US        |    163747 | NS      | $11549075.91  | 1.00%             |  |  |  | No            |                  1 | On Loan: No      |
| Paymentus Holdings Inc                    | Paymentus Holdings Inc COM CL A                        | CUSIP: 70439P108<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    325167 | NS      | $10272025.53  | 0.89%             |  |  |  | No            |                  1 | On Loan: No      |
| FTAI Aviation Ltd                         | FTAI Aviation Ltd COM USD0.01                          | CUSIP: G3730V105<br>LEI: N/A                  | Long             | EC               | CORP              | KY        |     74822 | NS      | $14728710.70  | 1.28%             |  |  |  | No            |                  1 | On Loan: No      |
| Gulfport Energy Operating Corp.           | Gulfport Energy Operating Corp. COMMON SHARES          | CUSIP: 402635502<br>LEI: 549300FJX18IDUFPHD40 | Long             | EC               | CORP              | US        |     29887 | NS      | $6216197.13   | 0.54%             |  |  |  | No            |                  1 | On Loan: No      |
| Cipher Mining Inc                         | Cipher Mining Inc COM                                  | CUSIP: 17253J106<br>LEI: 254900QABG5HCQZ28A17 | Long             | EC               | CORP              | US        |    249540 | NS      | $3683210.40   | 0.32%             |  |  |  | No            |                  1 | On Loan: No      |
| Coherent Corp                             | Coherent Corp COM                                      | CUSIP: 19247G107<br>LEI: 549300O5C25A0MMHHU33 | Long             | EC               | CORP              | US        |     56151 | NS      | $10363790.07  | 0.90%             |  |  |  | No            |                  1 | On Loan: No      |
| Structure Therapeutics Inc                | Structure Therapeutics Inc SPONSORED ADS               | CUSIP: 86366E106<br>LEI: N/A                  | Long             | EC               | CORP              | KY        |    123939 | NS      | $8619957.45   | 0.75%             |  |  |  | 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        |    154228 | NS      | $7089861.16   | 0.62%             |  |  |  | No            |                  1 | On Loan: No      |
| Spyre Therapeutics Inc                    | Spyre Therapeutics Inc COM NEW                         | CUSIP: 00773J202<br>LEI: 52990017AIJPRH3HQH40 | Long             | EC               | CORP              | US        |    279217 | NS      | $9147148.92   | 0.79%             |  |  |  | No            |                  1 | On Loan: No      |
| Dutch Bros Inc                            | Dutch Bros Inc CL A                                    | CUSIP: 26701L100<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    105094 | NS      | $6433854.68   | 0.56%             |  |  |  | No            |                  1 | On Loan: No      |
| Karman Holdings Inc.                      | Karman Holdings Inc. COMMON STOCK                      | CUSIP: 485924104<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    185063 | NS      | $13541059.71  | 1.18%             |  |  |  | No            |                  1 | On Loan: No      |
| Carvana Co                                | Carvana Co COM USD0.001 CL A                           | CUSIP: 146869102<br>LEI: 5493003WEAK2PJ5WS063 | Long             | EC               | CORP              | US        |     17761 | NS      | $7495497.22   | 0.65%             |  |  |  | No            |                  1 | On Loan: No      |
| Rhythm Pharmaceuticals Inc                | Rhythm Pharmaceuticals Inc COM USD0.001                | CUSIP: 76243J105<br>LEI: 529900JPNWXQ8DPLA551 | Long             | EC               | CORP              | US        |    150746 | NS      | $16135851.84  | 1.40%             |  |  |  | No            |                  1 | On Loan: No      |
| Mind Medicine (MindMed) Inc.              | Mind Medicine (MindMed) Inc. COM NEW                   | CUSIP: 60255C885<br>LEI: 549300QY8KN1O6RPFJ13 | Long             | EC               | CORP              | CA        |    464294 | NS      | $6216896.66   | 0.54%             |  |  |  | No            |                  1 | On Loan: No      |
| Indivior PLC                              | Indivior PLC ORD USD0.5                                | CUSIP: G4766E116<br>LEI: 213800V3NCQTY7IED471 | Long             | EC               | CORP              | GB        |    196941 | NS      | $7066243.08   | 0.61%             |  |  |  | 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        |     59546 | NS      | $17550588.04  | 1.52%             |  |  |  | No            |                  1 | On Loan: No      |
| UL Solutions Inc.                         | UL Solutions Inc. CLASS A COM SHS                      | CUSIP: 903731107<br>LEI: 549300F7CUV5ESKV9P71 | Long             | EC               | CORP              | US        |    100439 | NS      | $7920619.54   | 0.69%             |  |  |  | No            |                  1 | On Loan: No      |
| Septerna Inc.                             | Septerna Inc. COM                                      | CUSIP: 81734D104<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    377399 | NS      | $10521884.12  | 0.91%             |  |  |  | No            |                  1 | On Loan: No      |
| Immunome Inc                              | Immunome Inc COM                                       | CUSIP: 45257U108<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    275196 | NS      | $5911210.08   | 0.51%             |  |  |  | No            |                  1 | On Loan: No      |
| Legence Corp.                             | Legence Corp. CL A                                     | CUSIP: 52476L109<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    132653 | NS      | $5709385.12   | 0.50%             |  |  |  | No            |                  1 | On Loan: No      |
| Neptune Insurance Holdings Inc.           | Neptune Insurance Holdings Inc. CL A                   | CUSIP: 64073B103<br>LEI: 529900I3QTHC0Q1C2D65 | Long             | EC               | CORP              | US        |    120299 | NS      | $3507918.84   | 0.30%             |  |  |  | No            |                  1 | On Loan: No      |
| Wave Life Sciences Ltd.                   | Wave Life Sciences Ltd. COM NPV                        | CUSIP: Y95308105<br>LEI: 54930070006GPKFYZ813 | Long             | EC               | CORP              | SG        |    684998 | NS      | $11644966.00  | 1.01%             |  |  |  | No            |                  1 | On Loan: No      |
| Dave Inc                                  | Dave Inc CLASS A COM NEW                               | CUSIP: 23834J201<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     22887 | NS      | $5067410.67   | 0.44%             |  |  |  | No            |                  1 | On Loan: No      |
| Terawulf Inc                              | Terawulf Inc COM                                       | CUSIP: 88080T104<br>LEI: 254900CVMW1SX2T78A64 | Long             | EC               | CORP              | US        |    283504 | NS      | $3257460.96   | 0.28%             |  |  |  | No            |                  1 | On Loan: No      |
| Everus Construction Group Inc.            | Everus Construction Group Inc. COM                     | CUSIP: 300426103<br>LEI: 2549006JMMHR0KILT425 | Long             | EC               | CORP              | US        |     67123 | NS      | $5743043.88   | 0.50%             |  |  |  | No            |                  1 | On Loan: No      |
| Celestica Inc.                            | Celestica Inc. COM                                     | CUSIP: 15101Q207<br>LEI: 549300J3CG5T6RZWLN53 | Long             | EC               | CORP              | CA        |     21138 | NS      | $6248604.18   | 0.54%             |  |  |  | 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        |    235367 | NS      | $10367916.35  | 0.90%             |  |  |  | No            |                  1 | On Loan: No      |
| PTC Therapeutics, Inc.                    | PTC Therapeutics, Inc. COM USD0.001                    | CUSIP: 69366J200<br>LEI: 549300UJLWOIWFDGB318 | Long             | EC               | CORP              | US        |    147439 | NS      | $11199466.44  | 0.97%             |  |  |  | No            |                  1 | On Loan: No      |
| IES Holdings Inc.                         | IES Holdings Inc. COM USD0.01                          | CUSIP: 44951W106<br>LEI: 549300687T8E6LN6EN72 | Long             | EC               | CORP              | US        |     14891 | NS      | $5792896.82   | 0.50%             |  |  |  | No            |                  1 | On Loan: No      |
| Crinetics Pharmaceuticals Inc.            | Crinetics Pharmaceuticals Inc. COM USD0.001            | CUSIP: 22663K107<br>LEI: 549300Q1CNFXK5P31D28 | Long             | EC               | CORP              | US        |    504750 | NS      | $23496112.50  | 2.04%             |  |  |  | No            |                  1 | On Loan: No      |
| Guardant Health Inc                       | Guardant Health Inc COM USD0.00001                     | CUSIP: 40131M109<br>LEI: 254900M8C3E5VC8BR186 | Long             | EC               | CORP              | US        |    263206 | NS      | $26883860.84  | 2.33%             |  |  |  | No            |                  1 | On Loan: No      |
| Nextpower Inc.                            | Nextpower Inc. CLASS A COM                             | CUSIP: 65290E101<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    111200 | NS      | $9686632.00   | 0.84%             |  |  |  | No            |                  1 | On Loan: No      |
| Carpenter Technology Corporation          | Carpenter Technology Corporation COM USD5              | CUSIP: 144285103<br>LEI: DX6I6ZD3X5WNNCDJKP85 | Long             | EC               | CORP              | US        |     44393 | NS      | $13976692.12  | 1.21%             |  |  |  | No            |                  1 | On Loan: No      |
| ESCO Technologies Inc.                    | ESCO Technologies Inc. COM USD0.01                     | CUSIP: 296315104<br>LEI: 5493007JJLP5MEWVDH10 | Long             | EC               | CORP              | US        |     43553 | NS      | $8509820.67   | 0.74%             |  |  |  | No            |                  1 | On Loan: No      |
| Madden(Steven)Ltd.                        | Madden(Steven)Ltd. COM USD0.0001                       | CUSIP: 556269108<br>LEI: 549300Z9GZ7GYJWSGF43 | Long             | EC               | CORP              | US        |    165701 | NS      | $6899789.64   | 0.60%             |  |  |  | No            |                  1 | On Loan: No      |
| Flowserve Corporation                     | Flowserve Corporation COM USD1.25                      | CUSIP: 34354P105<br>LEI: 6Y0GK87T6V7NJKZJVM41 | Long             | EC               | CORP              | US        |    129993 | NS      | $9018914.34   | 0.78%             |  |  |  | No            |                  1 | On Loan: No      |
| Dycom Industries, Inc.                    | Dycom Industries, Inc. COM USD0.333                    | CUSIP: 267475101<br>LEI: 549300F56EKTHQI3WT60 | Long             | EC               | CORP              | US        |     26702 | NS      | $9022605.80   | 0.78%             |  |  |  | No            |                  1 | On Loan: No      |
| Federal Signal Corp.                      | Federal Signal Corp. COM USD1                          | CUSIP: 313855108<br>LEI: 549300RTXZRPTNP6G884 | Long             | EC               | CORP              | US        |     65985 | NS      | $7165311.15   | 0.62%             |  |  |  | No            |                  1 | On Loan: No      |
| Thor Industries Inc.                      | Thor Industries Inc. COM USD0.10                       | CUSIP: 885160101<br>LEI: 254900XZO1228PDSG060 | Long             | EC               | CORP              | US        |     56116 | NS      | $5761429.72   | 0.50%             |  |  |  | No            |                  1 | On Loan: No      |
| Modine Manufacturing Co.                  | Modine Manufacturing Co. COM USD0.625                  | CUSIP: 607828100<br>LEI: Z35SZFYJR8GZZRSIUU09 | Long             | EC               | CORP              | US        |     62801 | NS      | $8384561.51   | 0.73%             |  |  |  | No            |                  1 | On Loan: No      |
| Rambus Inc.                               | Rambus Inc. COM USD0.001                               | CUSIP: 750917106<br>LEI: 2549000211GDCQSLV833 | Long             | EC               | CORP              | US        |    133388 | NS      | $12257023.32  | 1.06%             |  |  |  | No            |                  1 | On Loan: No      |
| Alphatec Holdings Inc.                    | Alphatec Holdings Inc. COM USD0.0001                   | CUSIP: 02081G201<br>LEI: 549300EZE8CQ8K65FS24 | Long             | EC               | CORP              | US        |    289409 | NS      | $6089165.36   | 0.53%             |  |  |  | No            |                  1 | On Loan: No      |
| The Realreal Inc                          | The Realreal Inc COM USD0.00001                        | CUSIP: 88339P101<br>LEI: 549300O00VUGT4H1PE90 | Long             | EC               | CORP              | US        |    341162 | NS      | $5383536.36   | 0.47%             |  |  |  | No            |                  1 | On Loan: No      |
| Sitime Corporation                        | Sitime Corporation COM                                 | CUSIP: 82982T106<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     45075 | NS      | $15920039.25  | 1.38%             |  |  |  | No            |                  1 | On Loan: No      |
| Arcutis Biotherapeutics Inc.              | Arcutis Biotherapeutics Inc. COM                       | CUSIP: 03969K108<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    290332 | NS      | $8431241.28   | 0.73%             |  |  |  | No            |                  1 | On Loan: No      |
| Xometry Inc                               | Xometry Inc CLASS A COM                                | CUSIP: 98423F109<br>LEI: 5493006JFRGU7YRRXE44 | Long             | EC               | CORP              | US        |    184097 | NS      | $10948248.59  | 0.95%             |  |  |  | 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        |     91935 | NS      | $9979544.25   | 0.87%             |  |  |  | No            |                  1 | On Loan: No      |
| Bloom Energy Corporation                  | Bloom Energy Corporation COM USD0.0001 CL A            | CUSIP: 093712107<br>LEI: 549300XB5J9BFW5JXV97 | Long             | EC               | CORP              | US        |     70955 | NS      | $6165279.95   | 0.53%             |  |  |  | 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        |    436262 | NS      | $8262802.28   | 0.72%             |  |  |  | No            |                  1 | On Loan: No      |
| TransMedics Group Inc.                    | TransMedics Group Inc. COM NPV                         | CUSIP: 89377M109<br>LEI: 549300060GVOSMWARH50 | Long             | EC               | CORP              | US        |     70080 | NS      | $8525232.00   | 0.74%             |  |  |  | No            |                  1 | On Loan: No      |
| Bridgebio Pharma Inc                      | Bridgebio Pharma Inc COM USD0.001                      | CUSIP: 10806X102<br>LEI: 54930028YG89VTY2J114 | Long             | EC               | CORP              | US        |    248963 | NS      | $19043179.87  | 1.65%             |  |  |  | No            |                  1 | On Loan: No      |
| BRP Inc.                                  | BRP Inc. COM SUN VTG                                   | CUSIP: 05577W200<br>LEI: 529900EPQGESIRCPY551 | Long             | EC               | CORP              | CA        |    111183 | NS      | $7867309.08   | 0.68%             |  |  |  | No            |                  1 | On Loan: No      |
| Weatherford International Plc             | Weatherford International Plc COM USD0.001             | CUSIP: G48833118<br>LEI: 529900LPBDSCQDJKHQ39 | Long             | EC               | CORP              | IE        |    197413 | NS      | $15449541.38  | 1.34%             |  |  |  | No            |                  1 | On Loan: No      |
| GeneDx Holdings Corp                      | GeneDx Holdings Corp COM CL A                          | CUSIP: 81663L200<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     51462 | NS      | $6693147.72   | 0.58%             |  |  |  | No            |                  1 | On Loan: No      |
| Apogee Therapeutics Inc.                  | Apogee Therapeutics Inc. COM                           | CUSIP: 03770N101<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    198428 | NS      | $14977345.44  | 1.30%             |  |  |  | No            |                  1 | On Loan: No      |
| Arrowhead Pharmaceuticals Inc             | Arrowhead Pharmaceuticals Inc COM USD0.001             | CUSIP: 04280A100<br>LEI: 549300O3CSB8T7OZ3D66 | Long             | EC               | CORP              | US        |    227370 | NS      | $15095094.30  | 1.31%             |  |  |  | No            |                  1 | On Loan: No      |
| Inspire Medical Systems Inc               | Inspire Medical Systems Inc COM USD0.001               | CUSIP: 457730109<br>LEI: 549300XQQCQ7HCJKTW25 | Long             | EC               | CORP              | US        |     43623 | NS      | $4023349.29   | 0.35%             |  |  |  | No            |                  1 | On Loan: No      |
| Onto Innovation Inc.                      | Onto Innovation Inc. COM                               | CUSIP: 683344105<br>LEI: 254900RXZVN73CHOO062 | Long             | EC               | CORP              | US        |     43238 | NS      | $6825550.68   | 0.59%             |  |  |  | No            |                  1 | On Loan: No      |
| Alliance Laundry Holdings Inc.            | Alliance Laundry Holdings Inc. COM                     | CUSIP: 01862Q107<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    267371 | NS      | $5440999.85   | 0.47%             |  |  |  | No            |                  1 | On Loan: No      |
| Axsome Therapeutics Inc.                  | Axsome Therapeutics Inc. COM USD0.0001                 | CUSIP: 05464T104<br>LEI: 549300EXGR0XLRJEIB95 | Long             | EC               | CORP              | US        |     41558 | NS      | $7590153.12   | 0.66%             |  |  |  | No            |                  1 | On Loan: No      |
| Northern Institutional Funds              | Northern Institutional Funds GOVT SELECT PT            | CUSIP: 665278701<br>LEI: 549300Y178DO5JBR1S04 | Long             | STIV             | RF                | US        |   3994520 | NS      | $3994519.90   | 0.35%             |  |  |  | No            |                  1 | On Loan: No      |
| Crane Co.                                 | Crane Co. COMMON STOCK                                 | CUSIP: 224408104<br>LEI: 5493000CQRQOTHUODL75 | Long             | EC               | CORP              | US        |     64235 | NS      | $11846861.05  | 1.03%             |  |  |  | No            |                  1 | On Loan: No      |
| Impinj Inc                                | Impinj Inc COM USD0.001                                | CUSIP: 453204109<br>LEI: 549300M26VGKSMMWWN17 | Long             | EC               | CORP              | US        |    100981 | NS      | $17571703.81  | 1.52%             |  |  |  | No            |                  1 | On Loan: No      |
| Axon Enterprise Inc                       | Axon Enterprise Inc COM USD0.00001                     | CUSIP: 05464C101<br>LEI: 549300QP2IEEGFE16681 | Long             | EC               | CORP              | US        |     12581 | NS      | $7145127.33   | 0.62%             |  |  |  | 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        |   1411256 | NS      | $16172993.76  | 1.40%             |  |  |  | No            |                  1 | On Loan: No      |
| Victorias Secret and Co                   | Victorias Secret and Co COMMON STOCK                   | CUSIP: 926400102<br>LEI: 5493006T3O70U3UWVF17 | Long             | EC               | CORP              | US        |    116185 | NS      | $6293741.45   | 0.55%             |  |  |  | No            |                  1 | On Loan: No      |
| Mirion Technologies Inc                   | Mirion Technologies Inc COM CL A                       | CUSIP: 60471A101<br>LEI: 549300BNTOWVWFNVTJ65 | Long             | EC               | CORP              | US        |    442772 | NS      | $10369720.24  | 0.90%             |  |  |  | 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        |     57604 | NS      | $8288639.56   | 0.72%             |  |  |  | No            |                  1 | On Loan: No      |
| Cameco Corporation                        | Cameco Corporation COM NPV                             | CUSIP: 13321L108<br>LEI: N4BHALMXL3GMZKCUON55 | Long             | EC               | CORP              | CA        |    119407 | NS      | $10924546.43  | 0.95%             |  |  |  | No            |                  1 | On Loan: No      |
| HudBay Minerals Inc                       | HudBay Minerals Inc COM                                | CUSIP: 443628102<br>LEI: 549300WI524AL577IX21 | Long             | EC               | CORP              | CA        |    382088 | NS      | $7584446.80   | 0.66%             |  |  |  | No            |                  1 | On Loan: No      |
| Lumentum Holdings Inc.                    | Lumentum Holdings Inc. COM USD0.001                    | CUSIP: 55024U109<br>LEI: 549300JLWRRC38DWEF52 | Long             | EC               | CORP              | US        |     44445 | NS      | $16381982.55  | 1.42%             |  |  |  | No            |                  1 | On Loan: No      |
| Siteone Landscape Supply Inc              | Siteone Landscape Supply Inc COM USD0.01               | CUSIP: 82982L103<br>LEI: 5299008LX7SBD4HIAU03 | Long             | EC               | CORP              | US        |     47227 | NS      | $5882595.12   | 0.51%             |  |  |  | No            |                  1 | On Loan: No      |
| Pan American Silver Corp.                 | Pan American Silver Corp. COM NPV                      | CUSIP: 697900108<br>LEI: 549300MKTF5851TYIB83 | Long             | EC               | CORP              | CA        |    229619 | NS      | $11896560.39  | 1.03%             |  |  |  | No            |                  1 | On Loan: No      |
| Piper Sandler Companies                   | Piper Sandler Companies COM USD0.01                    | CUSIP: 724078100<br>LEI: QUQDBTUSOAKFEVMRMF78 | Long             | EC               | CORP              | US        |     29344 | NS      | $9968450.24   | 0.87%             |  |  |  | No            |                  1 | On Loan: No      |
| Sterling Infrastructure Inc               | Sterling Infrastructure Inc COM USD0.01                | CUSIP: 859241101<br>LEI: 549300RZIK6K1215XU51 | Long             | EC               | CORP              | US        |     26842 | NS      | $8219825.66   | 0.71%             |  |  |  | No            |                  1 | On Loan: No      |
| Ormat Technologies Inc.                   | Ormat Technologies Inc. COM STK USD0.001               | CUSIP: 686688102<br>LEI: 5493000TSHHWY24VHM09 | Long             | EC               | CORP              | US        |     50744 | NS      | $5605689.68   | 0.49%             |  |  |  | No            |                  1 | On Loan: No      |
| Corcept Therapeutics Inc.                 | Corcept Therapeutics Inc. COM STK USD0.00001           | CUSIP: 218352102<br>LEI: 529900EO9LUTFMZ7FF90 | Long             | EC               | CORP              | US        |     58689 | NS      | $2042377.20   | 0.18%             |  |  |  | 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        |     69660 | NS      | $11931364.80  | 1.04%             |  |  |  | No            |                  1 | On Loan: No      |
| Customers Bancorp, Inc.                   | Customers Bancorp, Inc. COM USD1                       | CUSIP: 23204G100<br>LEI: 549300WLBCHYKZ53FN68 | Long             | EC               | CORP              | US        |    148086 | NS      | $10828048.32  | 0.94%             |  |  |  | No            |                  1 | On Loan: No      |
| Natera Inc.                               | Natera Inc. COM USD0.0001                              | CUSIP: 632307104<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     67718 | NS      | $15513516.62  | 1.35%             |  |  |  | No            |                  1 | On Loan: No      |
| Planet Labs Pbc                           | Planet Labs Pbc COM CL A                               | CUSIP: 72703X106<br>LEI: 254900Q7PVI3HTQBRB44 | Long             | EC               | CORP              | US        |    987015 | NS      | $19463935.80  | 1.69%             |  |  |  | No            |                  1 | On Loan: No      |
| Saia Inc                                  | Saia Inc COM USD0.001                                  | CUSIP: 78709Y105<br>LEI: 549300WNPG4N9GBOYB29 | Long             | EC               | CORP              | US        |     20333 | NS      | $6639131.16   | 0.58%             |  |  |  | No            |                  1 | On Loan: No      |
| MYR Grp Inc                               | MYR Grp Inc COM USD0.01                                | CUSIP: 55405W104<br>LEI: 529900G1IMMZHOQ17I54 | Long             | EC               | CORP              | US        |     27140 | NS      | $5930090.00   | 0.51%             |  |  |  | No            |                  1 | On Loan: No      |
| Centrus Energy Corp.                      | Centrus Energy Corp. CL A                              | CUSIP: 15643U104<br>LEI: 549300G6VDK9G8276661 | Long             | EC               | CORP              | US        |     25302 | NS      | $6142313.52   | 0.53%             |  |  |  | No            |                  1 | On Loan: No      |
| Xenon Pharmaceuticals Inc                 | Xenon Pharmaceuticals Inc COM NPV                      | CUSIP: 98420N105<br>LEI: 549300XV44Q9Z1MIPQ03 | Long             | EC               | CORP              | CA        |    314388 | NS      | $14090870.16  | 1.22%             |  |  |  | No            |                  1 | On Loan: No      |
| Uranium Energy Corp.                      | Uranium Energy Corp. COM USD0.001                      | CUSIP: 916896103<br>LEI: 549300VD69WD2USLIP04 | Long             | EC               | CORP              | US        |   1215190 | NS      | $14193419.20  | 1.23%             |  |  |  | No            |                  1 | On Loan: No      |
| AeroVironment, Inc.                       | AeroVironment, Inc. COM USD0.0001                      | CUSIP: 008073108<br>LEI: 529900PGHVI29YLZ6221 | Long             | EC               | CORP              | US        |     46790 | NS      | $11318033.10  | 0.98%             |  |  |  | No            |                  1 | On Loan: No      |
| Camtek Limited                            | Camtek Limited ILS0.01                                 | CUSIP: M20791105<br>LEI: 5493000H80W07HCKGS43 | Long             | EC               | CORP              | IL        |     54367 | NS      | $5781658.62   | 0.50%             |  |  |  | No            |                  1 | On Loan: No      |
| VSE Corp.                                 | VSE Corp. COM STK USD0.05                              | CUSIP: 918284100<br>LEI: 549300QWJYQDH4U5XI15 | Long             | EC               | CORP              | US        |     45165 | NS      | $7803157.05   | 0.68%             |  |  |  | No            |                  1 | On Loan: No      |
| InterDigital, Inc.                        | InterDigital, Inc. COM STK USD0.01                     | CUSIP: 45867G101<br>LEI: 529900HQAUTC3VI47G64 | Long             | EC               | CORP              | US        |     51532 | NS      | $16406758.16  | 1.42%             |  |  |  | No            |                  1 | On Loan: No      |
| Irhythm Technologies Inc                  | Irhythm Technologies Inc COM USD0.001                  | CUSIP: 450056106<br>LEI: 549300FJI72RJGDQS384 | Long             | EC               | CORP              | US        |     51777 | NS      | $9187310.88   | 0.80%             |  |  |  | No            |                  1 | On Loan: No      |
| HCI Group, Inc.                           | HCI Group, Inc. COM NPV                                | CUSIP: 40416E103<br>LEI: 549300CZF7EZJH0MPH74 | Long             | EC               | CORP              | US        |     47962 | NS      | $9193835.78   | 0.80%             |  |  |  | No            |                  1 | On Loan: No      |
| Installed Building Products Inc           | Installed Building Products Inc COM USD0.01            | CUSIP: 45780R101<br>LEI: 549300I95Y9P9YM5FI86 | Long             | EC               | CORP              | US        |     40053 | NS      | $10389347.67  | 0.90%             |  |  |  | No            |                  1 | On Loan: No      |
| TechnipFMC PLC                            | TechnipFMC PLC USD1                                    | CUSIP: G87110105<br>LEI: 549300D5I93QWCJTCK36 | Long             | EC               | CORP              | GB        |    175716 | NS      | $7829904.96   | 0.68%             |  |  |  | No            |                  1 | On Loan: No      |
| Edgewise Therapeutics Inc.                | Edgewise Therapeutics Inc. COM                         | CUSIP: 28036F105<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    452393 | NS      | $11226132.30  | 0.97%             |  |  |  | No            |                  1 | On Loan: No      |
| Compass Inc.                              | Compass Inc. CL A                                      | CUSIP: 20464U100<br>LEI: 254900DMGQSTC3I2IM78 | Long             | EC               | CORP              | US        |    746871 | NS      | $7894426.47   | 0.69%             |  |  |  | No            |                  1 | On Loan: No      |
| Fabrinet                                  | Fabrinet COM USD0.01                                   | CUSIP: G3323L100<br>LEI: 5493004TETZ6IYF7CV44 | Long             | EC               | CORP              | KY        |     34244 | NS      | $15590608.32  | 1.35%             |  |  |  | No            |                  1 | On Loan: No      |
| Nuvalent Inc                              | Nuvalent Inc COM                                       | CUSIP: 670703107<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     64060 | NS      | $6443795.40   | 0.56%             |  |  |  | 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        |     47925 | NS      | $8457324.75   | 0.73%             |  |  |  | No            |                  1 | On Loan: No      |
| Semtech Corporation                       | Semtech Corporation COM STK USD0.01                    | CUSIP: 816850101<br>LEI: 549300J7WUY317SW6O61 | Long             | EC               | CORP              | US        |    118287 | NS      | $8716569.03   | 0.76%             |  |  |  | No            |                  1 | On Loan: No      |
| Veracyte Inc                              | Veracyte Inc COM USD0.001                              | CUSIP: 92337F107<br>LEI: 529900ESWZRHXOW27Z37 | Long             | EC               | CORP              | US        |    122006 | NS      | $5136452.60   | 0.45%             |  |  |  | No            |                  1 | On Loan: No      |
| Ambarella Inc                             | Ambarella Inc COM USD0.00045                           | CUSIP: G037AX101<br>LEI: 254900XN7F4DG0CEKC02 | Long             | EC               | CORP              | KY        |     70762 | NS      | $5012780.08   | 0.43%             |  |  |  | No            |                  1 | On Loan: No      |
| JBT Marel Corp.                           | JBT Marel Corp. COM USD0.01                            | CUSIP: 477839104<br>LEI: 5493007CT6ATBZ2L6826 | Long             | EC               | CORP              | US        |     55521 | NS      | $8365349.07   | 0.73%             |  |  |  | No            |                  1 | On Loan: No      |
| Protagonist Therapeutics Inc              | Protagonist Therapeutics Inc COM USD0.00001            | CUSIP: 74366E102<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    131743 | NS      | $11506433.62  | 1.00%             |  |  |  | No            |                  1 | On Loan: No      |
| Tarsus Pharmaceuticals Inc                | Tarsus Pharmaceuticals Inc COM                         | CUSIP: 87650L103<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    145374 | NS      | $11903223.12  | 1.03%             |  |  |  | No            |                  1 | On Loan: No      |
| Madrigal Pharmaceuticals Inc              | Madrigal Pharmaceuticals Inc USD0.0001                 | CUSIP: 558868105<br>LEI: 549300CHIMT2EUSNJB60 | Long             | EC               | CORP              | US        |     21575 | NS      | $12563985.50  | 1.09%             |  |  |  | No            |                  1 | On Loan: No      |
| Turning Point Brands Inc                  | Turning Point Brands Inc COM USD0.01                   | CUSIP: 90041L105<br>LEI: 549300IYG00QF0VVP302 | Long             | EC               | CORP              | US        |    120142 | NS      | $13023392.80  | 1.13%             |  |  |  | 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        |    449701 | NS      | $11611279.82  | 1.01%             |  |  |  | No            |                  1 | On Loan: No      |
| Kymera Therapeutics Inc                   | Kymera Therapeutics Inc COM                            | CUSIP: 501575104<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    157098 | NS      | $12223795.38  | 1.06%             |  |  |  | No            |                  1 | On Loan: No      |
| Travere Therapeutics Inc                  | Travere Therapeutics Inc COM                           | CUSIP: 89422G107<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    174085 | NS      | $6651787.85   | 0.58%             |  |  |  | No            |                  1 | On Loan: No      |
| StoneX Group Inc                          | StoneX Group Inc COM                                   | CUSIP: 861896108<br>LEI: 549300JUF07L8VF02M60 | Long             | EC               | CORP              | US        |     59354 | NS      | $5646346.02   | 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