# EDGAR Filing Document

**Accession Number:** 0001016073
**File Stem:** 0002066578-25-000382
**Filing Date:** 2025-8
**Character Count:** 44132
**Document Hash:** 1439c80dd09a71a51b20ab596f97b272
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0002066578-25-000382.hdr.sgml**: 20250826

**ACCESSION NUMBER**: 0002066578-25-000382

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 1

**CONFORMED PERIOD OF REPORT**: 20250630

**FILED AS OF DATE**: 20250826

**DATE AS OF CHANGE**: 20250826

**PERIOD START**: 20251231

**FILER**: 

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

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

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-07655
- **FILM NUMBER:** 251255218

**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:** 2025-06-30

**Item A.4. Final filing**

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

### Fund Information

**Total Assets:** $1023553433.85

**Total Liabilities:** $686039.34

**Net Assets:** $1022867394.51

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000190998 | 1.57%                | 4.17%                | 7.42%                |
| Class ID C000190999 | 1.54%                | 4.24%                | 7.41%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $-26735056.01            | $40686364.58                               |
| Month 2  | $-20338402.05            | $58493078.02                               |
| Month 3  | $1475102.18              | $69252820.62                               |

### 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        |    355371 | NS      | $16506982.95  | 1.61%             |  |  |  | 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        |    193993 | NS      | $11040141.63  | 1.08%             |  |  |  | No            |                  1 | On Loan: No      |
| Rocket Lab Corp.                          | Rocket Lab Corp. COM                                   | CUSIP: 773121108<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    269320 | NS      | $9633576.40   | 0.94%             |  |  |  | No            |                  1 | On Loan: No      |
| Slide Insurance Holdings Inc.             | Slide Insurance Holdings Inc. COM                      | CUSIP: 831349105<br>LEI: 2549004LDWZTPC69SX47 | Long             | EC               | CORP              | US        |    228398 | NS      | $4947100.68   | 0.48%             |  |  |  | No            |                  1 | On Loan: No      |
| Alkermes PLC                              | Alkermes PLC COM USD0.01                               | CUSIP: G01767105<br>LEI: N/A                  | Long             | EC               | CORP              | IE        |    168635 | NS      | $4824647.35   | 0.47%             |  |  |  | No            |                  1 | On Loan: No      |
| PTC Therapeutics, Inc.                    | PTC Therapeutics, Inc. COM USD0.001                    | CUSIP: 69366J200<br>LEI: 549300UJLWOIWFDGB318 | Long             | EC               | CORP              | US        |    143282 | NS      | $6997892.88   | 0.68%             |  |  |  | No            |                  1 | On Loan: No      |
| Sprouts Farmers Markets Inc               | Sprouts Farmers Markets Inc COM USD0.001               | CUSIP: 85208M102<br>LEI: 529900P8F4G77Q52XE24 | Long             | EC               | CORP              | US        |     42763 | NS      | $7040500.32   | 0.69%             |  |  |  | No            |                  1 | On Loan: No      |
| Karman Holdings Inc.                      | Karman Holdings Inc. COMMON STOCK                      | CUSIP: 485924104<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    340150 | NS      | $17133355.50  | 1.68%             |  |  |  | No            |                  1 | On Loan: No      |
| OSI System Inc.                           | OSI System Inc. COM NPV                                | CUSIP: 671044105<br>LEI: DDX3MPX1Y8YD30050X33 | Long             | EC               | CORP              | US        |     20925 | NS      | $4705195.50   | 0.46%             |  |  |  | No            |                  1 | On Loan: No      |
| Carpenter Technology Corporation          | Carpenter Technology Corporation COM USD5              | CUSIP: 144285103<br>LEI: DX6I6ZD3X5WNNCDJKP85 | Long             | EC               | CORP              | US        |     54959 | NS      | $15189568.42  | 1.48%             |  |  |  | No            |                  1 | On Loan: No      |
| Cheesecake Factory Inc                    | Cheesecake Factory Inc COM USD0.01                     | CUSIP: 163072101<br>LEI: 529900872XMLK10SY247 | Long             | EC               | CORP              | US        |    103508 | NS      | $6485811.28   | 0.63%             |  |  |  | No            |                  1 | On Loan: No      |
| ESCO Technologies Inc.                    | ESCO Technologies Inc. COM USD0.01                     | CUSIP: 296315104<br>LEI: 5493007JJLP5MEWVDH10 | Long             | EC               | CORP              | US        |     57973 | NS      | $11123279.51  | 1.09%             |  |  |  | No            |                  1 | On Loan: No      |
| Curtiss-Wright Corp.                      | Curtiss-Wright Corp. COM USD1                          | CUSIP: 231561101<br>LEI: TEL51ETZWP7D0ZM4X325 | Long             | EC               | CORP              | US        |     37123 | NS      | $18136441.65  | 1.77%             |  |  |  | No            |                  1 | On Loan: No      |
| Dycom Industries, Inc.                    | Dycom Industries, Inc. COM USD0.333                    | CUSIP: 267475101<br>LEI: 549300F56EKTHQI3WT60 | Long             | EC               | CORP              | US        |     12590 | NS      | $3076870.10   | 0.30%             |  |  |  | No            |                  1 | On Loan: No      |
| ESAB Corp.                                | ESAB Corp. COM                                         | CUSIP: 29605J106<br>LEI: 549300ZNV0SWBXEIWT04 | Long             | EC               | CORP              | US        |     53738 | NS      | $6478115.90   | 0.63%             |  |  |  | No            |                  1 | On Loan: No      |
| Core Scientific Inc                       | Core Scientific Inc COM                                | CUSIP: 21874A106<br>LEI: 549300NY2WTA02KF7L12 | Long             | EC               | CORP              | US        |    447703 | NS      | $7642290.21   | 0.75%             |  |  |  | No            |                  1 | On Loan: No      |
| Septerna Inc.                             | Septerna Inc. COM                                      | CUSIP: 81734D104<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    413422 | NS      | $4369870.54   | 0.43%             |  |  |  | No            |                  1 | On Loan: No      |
| TransMedics Group Inc.                    | TransMedics Group Inc. COM NPV                         | CUSIP: 89377M109<br>LEI: 549300060GVOSMWARH50 | Long             | EC               | CORP              | US        |     76763 | NS      | $10287009.63  | 1.01%             |  |  |  | No            |                  1 | On Loan: No      |
| Celestica Inc.                            | Celestica Inc. COM                                     | CUSIP: 15101Q207<br>LEI: 549300J3CG5T6RZWLN53 | Long             | EC               | CORP              | CA        |     63810 | NS      | $9961379.10   | 0.97%             |  |  |  | No            |                  1 | On Loan: No      |
| Spyre Therapeutics Inc                    | Spyre Therapeutics Inc COM NEW                         | CUSIP: 00773J202<br>LEI: 52990017AIJPRH3HQH40 | Long             | EC               | CORP              | US        |    200206 | NS      | $2997083.82   | 0.29%             |  |  |  | No            |                  1 | On Loan: No      |
| Rubrik Inc.                               | Rubrik Inc. CL A                                       | CUSIP: 781154109<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     63658 | NS      | $5703120.22   | 0.56%             |  |  |  | No            |                  1 | On Loan: No      |
| Soleno Therapeutics Inc                   | Soleno Therapeutics Inc COM                            | CUSIP: 834203309<br>LEI: 5493003LCY77N7FXK844 | Long             | EC               | CORP              | US        |     78366 | NS      | $6565503.48   | 0.64%             |  |  |  | No            |                  1 | On Loan: No      |
| Astera Labs Inc                           | Astera Labs Inc COM                                    | CUSIP: 04626A103<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    165899 | NS      | $15000587.58  | 1.47%             |  |  |  | No            |                  1 | On Loan: No      |
| Loar Holdings Inc                         | Loar Holdings Inc COM SHS                              | CUSIP: 53947R105<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     96679 | NS      | $8330829.43   | 0.81%             |  |  |  | No            |                  1 | On Loan: No      |
| Oddity Tech Ltd.                          | Oddity Tech Ltd. SHS CL A                              | CUSIP: M7518J104<br>LEI: N/A                  | Long             | EC               | CORP              | IL        |     96622 | NS      | $7292062.34   | 0.71%             |  |  |  | No            |                  1 | On Loan: No      |
| Marex Group Plc                           | Marex Group Plc ORD                                    | CUSIP: G5S37H101<br>LEI: 549300DWX0SVICJAL507 | Long             | EC               | CORP              | GB        |    153795 | NS      | $6070288.65   | 0.59%             |  |  |  | No            |                  1 | On Loan: No      |
| Northern Institutional Funds              | Northern Institutional Funds GOVT SELECT PT            | CUSIP: 665278701<br>LEI: 549300Y178DO5JBR1S04 | Long             | STIV             | RF                | US        |   4231143 | NS      | $4231143.48   | 0.41%             |  |  |  | No            |                  1 | On Loan: No      |
| Leonardo DRS Inc                          | Leonardo DRS Inc COM                                   | CUSIP: 52661A108<br>LEI: 549300HMMEWVG3PPQU18 | Long             | EC               | CORP              | US        |    242292 | NS      | $11261732.16  | 1.10%             |  |  |  | No            |                  1 | On Loan: No      |
| AvePoint Inc.                             | AvePoint Inc. COM CL A                                 | CUSIP: 053604104<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    278762 | NS      | $5382894.22   | 0.53%             |  |  |  | No            |                  1 | On Loan: No      |
| SPX Technologies, Inc.                    | SPX Technologies, Inc. COM                             | CUSIP: 78473E103<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     30434 | NS      | $5103173.12   | 0.50%             |  |  |  | No            |                  1 | On Loan: No      |
| Nextracker Inc.                           | Nextracker Inc. CLASS A COM                            | CUSIP: 65290E101<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    131016 | NS      | $7123339.92   | 0.70%             |  |  |  | No            |                  1 | On Loan: No      |
| Planet Labs Pbc                           | Planet Labs Pbc COM CL A                               | CUSIP: 72703X106<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    328563 | NS      | $2004234.30   | 0.20%             |  |  |  | No            |                  1 | On Loan: No      |
| AST SpaceMobile Inc.                      | AST SpaceMobile Inc. COM CL A                          | CUSIP: 00217D100<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     70342 | NS      | $3287081.66   | 0.32%             |  |  |  | No            |                  1 | On Loan: No      |
| FTAI Aviation Ltd                         | FTAI Aviation Ltd COM USD0.01                          | CUSIP: G3730V105<br>LEI: N/A                  | Long             | EC               | CORP              | KY        |     94297 | NS      | $10847926.88  | 1.06%             |  |  |  | No            |                  1 | On Loan: No      |
| GeneDx Holdings Corp                      | GeneDx Holdings Corp COM CL A                          | CUSIP: 81663L200<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     34967 | NS      | $3227803.77   | 0.32%             |  |  |  | No            |                  1 | On Loan: No      |
| Knife River Corp.                         | Knife River Corp. COMMON STOCK                         | CUSIP: 498894104<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     61594 | NS      | $5028534.16   | 0.49%             |  |  |  | No            |                  1 | On Loan: No      |
| Apogee Therapeutics Inc.                  | Apogee Therapeutics Inc. COM                           | CUSIP: 03770N101<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    217356 | NS      | $9439771.08   | 0.92%             |  |  |  | No            |                  1 | On Loan: No      |
| D-Wave Quantum Inc.                       | D-Wave Quantum Inc. COM                                | CUSIP: 26740W109<br>LEI: 5493001U37G4PRD4GW95 | Long             | EC               | CORP              | US        |    152706 | NS      | $2235615.84   | 0.22%             |  |  |  | No            |                  1 | On Loan: No      |
| Skyward Specialty Insurance Group Inc     | Skyward Specialty Insurance Group Inc COM              | CUSIP: 830940102<br>LEI: 549300GXGXJG0YH4VN21 | Long             | EC               | CORP              | US        |    201809 | NS      | $11662542.11  | 1.14%             |  |  |  | No            |                  1 | On Loan: No      |
| CAVA Group Inc.                           | CAVA Group Inc. COM                                    | CUSIP: 148929102<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     63353 | NS      | $5336223.19   | 0.52%             |  |  |  | No            |                  1 | On Loan: No      |
| Verona Pharma Plc                         | Verona Pharma Plc SPONSORED ADS                        | CUSIP: 925050106<br>LEI: 213800EVI6O6J3TIAL06 | Long             | EC               | CORP              | GB        |     68999 | NS      | $6525925.42   | 0.64%             |  |  |  | No            |                  1 | On Loan: No      |
| Coherent Corp                             | Coherent Corp COM                                      | CUSIP: 19247G107<br>LEI: 549300O5C25A0MMHHU33 | Long             | EC               | CORP              | US        |    115278 | NS      | $10283950.38  | 1.01%             |  |  |  | No            |                  1 | On Loan: No      |
| Crane Co.                                 | Crane Co. COMMON STOCK                                 | CUSIP: 224408104<br>LEI: 5493000CQRQOTHUODL75 | Long             | EC               | CORP              | US        |     72891 | NS      | $13841271.99  | 1.35%             |  |  |  | No            |                  1 | On Loan: No      |
| Flowserve Corporation                     | Flowserve Corporation COM USD1.25                      | CUSIP: 34354P105<br>LEI: 6Y0GK87T6V7NJKZJVM41 | Long             | EC               | CORP              | US        |    157976 | NS      | $8270043.60   | 0.81%             |  |  |  | No            |                  1 | On Loan: No      |
| Federal Signal Corp.                      | Federal Signal Corp. COM USD1                          | CUSIP: 313855108<br>LEI: 549300RTXZRPTNP6G884 | Long             | EC               | CORP              | US        |     72280 | NS      | $7692037.60   | 0.75%             |  |  |  | No            |                  1 | On Loan: No      |
| Modine Manufacturing Co.                  | Modine Manufacturing Co. COM USD0.625                  | CUSIP: 607828100<br>LEI: Z35SZFYJR8GZZRSIUU09 | Long             | EC               | CORP              | US        |     62876 | NS      | $6193286.00   | 0.61%             |  |  |  | No            |                  1 | On Loan: No      |
| Cameco Corporation                        | Cameco Corporation COM NPV                             | CUSIP: 13321L108<br>LEI: N4BHALMXL3GMZKCUON55 | Long             | EC               | CORP              | CA        |    160260 | NS      | $11896099.80  | 1.16%             |  |  |  | No            |                  1 | On Loan: No      |
| Chefs Warehouse Inc.                      | Chefs Warehouse Inc. COM USD0.01                       | CUSIP: 163086101<br>LEI: 549300JYEDC8C547E980 | Long             | EC               | CORP              | US        |     75848 | NS      | $4839860.88   | 0.47%             |  |  |  | No            |                  1 | On Loan: No      |
| Pan American Silver Corp.                 | Pan American Silver Corp. COM NPV                      | CUSIP: 697900108<br>LEI: 549300MKTF5851TYIB83 | Long             | EC               | CORP              | CA        |    344046 | NS      | $9770906.40   | 0.96%             |  |  |  | No            |                  1 | On Loan: No      |
| Sterling Infrastructure Inc               | Sterling Infrastructure Inc COM USD0.01                | CUSIP: 859241101<br>LEI: 549300RZIK6K1215XU51 | Long             | EC               | CORP              | US        |     60014 | NS      | $13847030.22  | 1.35%             |  |  |  | No            |                  1 | On Loan: No      |
| Corcept Therapeutics Inc.                 | Corcept Therapeutics Inc. COM STK USD0.00001           | CUSIP: 218352102<br>LEI: 529900EO9LUTFMZ7FF90 | Long             | EC               | CORP              | US        |     64287 | NS      | $4718665.80   | 0.46%             |  |  |  | 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        |     53203 | NS      | $7623457.87   | 0.75%             |  |  |  | No            |                  1 | On Loan: No      |
| TG Therapeutics Inc                       | TG Therapeutics Inc COM USD0.001                       | CUSIP: 88322Q108<br>LEI: 529900X21UKABN9NJ529 | Long             | EC               | CORP              | US        |    164762 | NS      | $5929784.38   | 0.58%             |  |  |  | No            |                  1 | On Loan: No      |
| Axon Enterprise Inc                       | Axon Enterprise Inc COM USD0.00001                     | CUSIP: 05464C101<br>LEI: 549300QP2IEEGFE16681 | Long             | EC               | CORP              | US        |     25486 | NS      | $21100878.84  | 2.06%             |  |  |  | No            |                  1 | On Loan: No      |
| Ultragenyx Pharmaceuticals Inc            | Ultragenyx Pharmaceuticals Inc COM USD0.001            | CUSIP: 90400D108<br>LEI: 529900EV44GVDN1DCX77 | Long             | EC               | CORP              | US        |    123882 | NS      | $4504349.52   | 0.44%             |  |  |  | No            |                  1 | On Loan: No      |
| Lumentum Holdings Inc.                    | Lumentum Holdings Inc. COM USD0.001                    | CUSIP: 55024U109<br>LEI: 549300JLWRRC38DWEF52 | Long             | EC               | CORP              | US        |    110929 | NS      | $10544910.74  | 1.03%             |  |  |  | No            |                  1 | On Loan: No      |
| Carvana Co                                | Carvana Co COM USD0.001 CL A                           | CUSIP: 146869102<br>LEI: 5493003WEAK2PJ5WS063 | Long             | EC               | CORP              | US        |     37962 | NS      | $12791675.52  | 1.25%             |  |  |  | No            |                  1 | On Loan: No      |
| Grand Canyon Education Inc                | Grand Canyon Education Inc COM USD0.01                 | CUSIP: 38526M106<br>LEI: 529900XFER799IYOSW74 | Long             | EC               | CORP              | US        |     39393 | NS      | $7445277.00   | 0.73%             |  |  |  | No            |                  1 | On Loan: No      |
| Natera Inc.                               | Natera Inc. COM USD0.0001                              | CUSIP: 632307104<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    115297 | NS      | $19478275.18  | 1.90%             |  |  |  | No            |                  1 | On Loan: No      |
| Commvault Systems Inc.                    | Commvault Systems Inc. COM STK USD0.01                 | CUSIP: 204166102<br>LEI: 65T5VRP62VXG39YFML83 | Long             | EC               | CORP              | US        |     90365 | NS      | $15753330.45  | 1.54%             |  |  |  | No            |                  1 | On Loan: No      |
| ExlService Holdings Inc.                  | ExlService Holdings Inc. COM STK USD0.001              | CUSIP: 302081104<br>LEI: 81E3DTNF6OSH489ZOV15 | Long             | EC               | CORP              | US        |    113716 | NS      | $4979623.64   | 0.49%             |  |  |  | No            |                  1 | On Loan: No      |
| Uranium Energy Corp.                      | Uranium Energy Corp. COM USD0.001                      | CUSIP: 916896103<br>LEI: 549300VD69WD2USLIP04 | Long             | EC               | CORP              | US        |   1330833 | NS      | $9049664.40   | 0.88%             |  |  |  | No            |                  1 | On Loan: No      |
| AeroVironment, Inc.                       | AeroVironment, Inc. COM USD0.0001                      | CUSIP: 008073108<br>LEI: 529900PGHVI29YLZ6221 | Long             | EC               | CORP              | US        |     50228 | NS      | $14312468.60  | 1.40%             |  |  |  | No            |                  1 | On Loan: No      |
| InterDigital, Inc.                        | InterDigital, Inc. COM STK USD0.01                     | CUSIP: 45867G101<br>LEI: 529900HQAUTC3VI47G64 | Long             | EC               | CORP              | US        |     41815 | NS      | $9376177.45   | 0.92%             |  |  |  | No            |                  1 | On Loan: No      |
| Cyberark Software Ltd.                    | Cyberark Software Ltd. COM ILS0.01                     | CUSIP: M2682V108<br>LEI: 529900YEXNDM894PWS93 | Long             | EC               | CORP              | IL        |     60739 | NS      | $24713484.32  | 2.42%             |  |  |  | No            |                  1 | On Loan: No      |
| Wave Life Sciences Ltd.                   | Wave Life Sciences Ltd. COM NPV                        | CUSIP: Y95308105<br>LEI: 54930070006GPKFYZ813 | Long             | EC               | CORP              | SG        |    655558 | NS      | $4261127.00   | 0.42%             |  |  |  | No            |                  1 | On Loan: No      |
| Irhythm Technologies Inc                  | Irhythm Technologies Inc COM USD0.001                  | CUSIP: 450056106<br>LEI: 549300FJI72RJGDQS384 | Long             | EC               | CORP              | US        |     32941 | NS      | $5071596.36   | 0.50%             |  |  |  | No            |                  1 | On Loan: No      |
| HCI Group, Inc.                           | HCI Group, Inc. COM NPV                                | CUSIP: 40416E103<br>LEI: 549300CZF7EZJH0MPH74 | Long             | EC               | CORP              | US        |     67091 | NS      | $10211250.20  | 1.00%             |  |  |  | No            |                  1 | On Loan: No      |
| TechnipFMC PLC                            | TechnipFMC PLC USD1                                    | CUSIP: G87110105<br>LEI: 549300D5I93QWCJTCK36 | Long             | EC               | CORP              | GB        |    192264 | NS      | $6621572.16   | 0.65%             |  |  |  | No            |                  1 | On Loan: No      |
| Adtalem Global Education Inc              | Adtalem Global Education Inc COM USD0.01               | CUSIP: 00737L103<br>LEI: 549300Z467EZLMODV621 | Long             | EC               | CORP              | US        |     67225 | NS      | $8553036.75   | 0.84%             |  |  |  | No            |                  1 | On Loan: No      |
| JBT Marel Corp.                           | JBT Marel Corp. COM USD0.01                            | CUSIP: 477839104<br>LEI: 5493007CT6ATBZ2L6826 | Long             | EC               | CORP              | US        |     70052 | NS      | $8424453.52   | 0.82%             |  |  |  | No            |                  1 | On Loan: No      |
| Fabrinet                                  | Fabrinet COM USD0.01                                   | CUSIP: G3323L100<br>LEI: 5493004TETZ6IYF7CV44 | Long             | EC               | CORP              | KY        |     42092 | NS      | $12403670.56  | 1.21%             |  |  |  | No            |                  1 | On Loan: No      |
| Planet Fitness Inc.                       | Planet Fitness Inc. COM USD0.0001 A                    | CUSIP: 72703H101<br>LEI: 549300LLE5HUPF6H8G33 | Long             | EC               | CORP              | US        |     61559 | NS      | $6713008.95   | 0.66%             |  |  |  | No            |                  1 | On Loan: No      |
| Archrock Inc                              | Archrock Inc COM USD0.01                               | CUSIP: 03957W106<br>LEI: 549300K3RIHMHDVFTL28 | Long             | EC               | CORP              | US        |    163070 | NS      | $4049028.10   | 0.40%             |  |  |  | No            |                  1 | On Loan: No      |
| Nutanix Inc                               | Nutanix Inc COM USD0.000025 CL A                       | CUSIP: 67059N108<br>LEI: 549300X7J6E8TKVIXW09 | Long             | EC               | CORP              | US        |    125026 | NS      | $9556987.44   | 0.93%             |  |  |  | No            |                  1 | On Loan: No      |
| Tarsus Pharmaceuticals Inc                | Tarsus Pharmaceuticals Inc COM                         | CUSIP: 87650L103<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     91070 | NS      | $3689245.70   | 0.36%             |  |  |  | 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        |     54509 | NS      | $8285368.00   | 0.81%             |  |  |  | No            |                  1 | On Loan: No      |
| Dutch Bros Inc                            | Dutch Bros Inc CL A                                    | CUSIP: 26701L100<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    194827 | NS      | $13320321.99  | 1.30%             |  |  |  | No            |                  1 | On Loan: No      |
| Merus NV                                  | Merus NV EUR0.09                                       | CUSIP: N5749R100<br>LEI: 549300W8GPUWU8QNU293 | Long             | EC               | CORP              | NL        |    152878 | NS      | $8041382.80   | 0.79%             |  |  |  | No            |                  1 | On Loan: No      |
| Sitime Corporation                        | Sitime Corporation COM                                 | CUSIP: 82982T106<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     61835 | NS      | $13175801.80  | 1.29%             |  |  |  | No            |                  1 | On Loan: No      |
| Stride Inc                                | Stride Inc COM                                         | CUSIP: 86333M108<br>LEI: 254900BRWS3AFONWU277 | Long             | EC               | CORP              | US        |     82925 | NS      | $12039880.75  | 1.18%             |  |  |  | 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        |    477900 | NS      | $5749137.00   | 0.56%             |  |  |  | No            |                  1 | On Loan: No      |
| Upstart Holdings Inc                      | Upstart Holdings Inc COM                               | CUSIP: 91680M107<br>LEI: 549300WNB47JRNENIC75 | Long             | EC               | CORP              | US        |    210526 | NS      | $13616821.68  | 1.33%             |  |  |  | No            |                  1 | On Loan: No      |
| Alkami Technology Inc.                    | Alkami Technology Inc. COM                             | CUSIP: 01644J108<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    220007 | NS      | $6631010.98   | 0.65%             |  |  |  | No            |                  1 | On Loan: No      |
| Xenon Pharmaceuticals Inc                 | Xenon Pharmaceuticals Inc COM NPV                      | CUSIP: 98420N105<br>LEI: 549300XV44Q9Z1MIPQ03 | Long             | EC               | CORP              | CA        |    341924 | NS      | $10702221.20  | 1.05%             |  |  |  | No            |                  1 | On Loan: No      |
| ACV Auctions Inc                          | ACV Auctions Inc COM CL A                              | CUSIP: 00091G104<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    407509 | NS      | $6609795.98   | 0.65%             |  |  |  | No            |                  1 | On Loan: No      |
| Paymentus Holdings Inc                    | Paymentus Holdings Inc COM CL A                        | CUSIP: 70439P108<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    333798 | NS      | $10931884.50  | 1.07%             |  |  |  | No            |                  1 | On Loan: No      |
| Monday.Com Limited                        | Monday.Com Limited SHS                                 | CUSIP: M7S64H106<br>LEI: 984500MDAFVD86E3B328 | Long             | EC               | CORP              | IL        |     27699 | NS      | $8710781.52   | 0.85%             |  |  |  | No            |                  1 | On Loan: No      |
| Sportradar Group AG                       | Sportradar Group AG CLASS A ORD SHS                    | CUSIP: H8088L103<br>LEI: 549300H1P33YOAT7Z533 | Long             | EC               | CORP              | CH        |    457565 | NS      | $12848425.20  | 1.26%             |  |  |  | No            |                  1 | On Loan: No      |
| Weatherford International Plc             | Weatherford International Plc COM USD0.001             | CUSIP: G48833118<br>LEI: 529900LPBDSCQDJKHQ39 | Long             | EC               | CORP              | IE        |     67352 | NS      | $3388479.12   | 0.33%             |  |  |  | No            |                  1 | On Loan: No      |
| Magnite Inc                               | Magnite Inc COM                                        | CUSIP: 55955D100<br>LEI: 54930018FR2YX1HHSB02 | Long             | EC               | CORP              | US        |    424948 | NS      | $10249745.76  | 1.00%             |  |  |  | No            |                  1 | On Loan: No      |
| Kymera Therapeutics Inc                   | Kymera Therapeutics Inc COM                            | CUSIP: 501575104<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    172055 | NS      | $7508480.20   | 0.73%             |  |  |  | No            |                  1 | On Loan: No      |
| Gulfport Energy Operating Corp.           | Gulfport Energy Operating Corp. COMMON SHARES          | CUSIP: 402635502<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     68171 | NS      | $13713960.07  | 1.34%             |  |  |  | No            |                  1 | On Loan: No      |
| Glaukos Corp.                             | Glaukos Corp. COM USD0.001                             | CUSIP: 377322102<br>LEI: 5299004JA1LHE21M6T14 | Long             | EC               | CORP              | US        |     78556 | NS      | $8114049.24   | 0.79%             |  |  |  | No            |                  1 | On Loan: No      |
| Ollies Bargain Outlet Holdings Inc.       | Ollies Bargain Outlet Holdings Inc. COM USD0.001       | CUSIP: 681116109<br>LEI: 529900YO5DSQCPEFDZ05 | Long             | EC               | CORP              | US        |     90404 | NS      | $11913439.12  | 1.16%             |  |  |  | No            |                  1 | On Loan: No      |
| Axsome Therapeutics Inc.                  | Axsome Therapeutics Inc. COM USD0.0001                 | CUSIP: 05464T104<br>LEI: 549300EXGR0XLRJEIB95 | Long             | EC               | CORP              | US        |     45535 | NS      | $4753398.65   | 0.46%             |  |  |  | No            |                  1 | On Loan: No      |
| Nuvalent Inc                              | Nuvalent Inc COM                                       | CUSIP: 670703107<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     44124 | NS      | $3366661.20   | 0.33%             |  |  |  | No            |                  1 | On Loan: No      |
| Remitly Global Inc.                       | Remitly Global Inc. COM                                | CUSIP: 75960P104<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    156752 | NS      | $2942235.04   | 0.29%             |  |  |  | No            |                  1 | On Loan: No      |
| Protagonist Therapeutics Inc              | Protagonist Therapeutics Inc COM USD0.00001            | CUSIP: 74366E102<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     67397 | NS      | $3725032.19   | 0.36%             |  |  |  | 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        |    295225 | NS      | $8351915.25   | 0.82%             |  |  |  | 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        |    135894 | NS      | $4813365.48   | 0.47%             |  |  |  | No            |                  1 | On Loan: No      |
| Mirion Technologies Inc                   | Mirion Technologies Inc COM CL A                       | CUSIP: 60471A101<br>LEI: 549300BNTOWVWFNVTJ65 | Long             | EC               | CORP              | US        |    396936 | NS      | $8546032.08   | 0.84%             |  |  |  | No            |                  1 | On Loan: No      |
| Crinetics Pharmaceuticals Inc.            | Crinetics Pharmaceuticals Inc. COM USD0.001            | CUSIP: 22663K107<br>LEI: 549300Q1CNFXK5P31D28 | Long             | EC               | CORP              | US        |    513211 | NS      | $14759948.36  | 1.44%             |  |  |  | No            |                  1 | On Loan: No      |
| Guardant Health Inc                       | Guardant Health Inc COM USD0.00001                     | CUSIP: 40131M109<br>LEI: 254900M8C3E5VC8BR186 | Long             | EC               | CORP              | US        |    343536 | NS      | $17877613.44  | 1.75%             |  |  |  | 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        |    217005 | NS      | $20092492.95  | 1.96%             |  |  |  | No            |                  1 | On Loan: No      |
| Rhythm Pharmaceuticals Inc                | Rhythm Pharmaceuticals Inc COM USD0.001                | CUSIP: 76243J105<br>LEI: 529900JPNWXQ8DPLA551 | Long             | EC               | CORP              | US        |    165125 | NS      | $10434248.75  | 1.02%             |  |  |  | No            |                  1 | On Loan: No      |
| Aris Water Solutions Inc                  | Aris Water Solutions Inc CLASS A COM                   | CUSIP: 04041L106<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    125503 | NS      | $2968145.95   | 0.29%             |  |  |  | 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        |     62895 | NS      | $4765554.15   | 0.47%             |  |  |  | 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        |    108850 | NS      | $11568578.00  | 1.13%             |  |  |  | No            |                  1 | On Loan: No      |
| Palomar Holdings Inc                      | Palomar Holdings Inc COM USD0.0001                     | CUSIP: 69753M105<br>LEI: 549300DOI1MUW11BLX74 | Long             | EC               | CORP              | US        |     75428 | NS      | $11634769.00  | 1.14%             |  |  |  | No            |                  1 | On Loan: No      |
| Bridgebio Pharma Inc                      | Bridgebio Pharma Inc COM USD0.001                      | CUSIP: 10806X102<br>LEI: 54930028YG89VTY2J114 | Long             | EC               | CORP              | US        |    269549 | NS      | $11639125.82  | 1.14%             |  |  |  | No            |                  1 | On Loan: No      |
| Gates Industrial Corp PLC                 | Gates Industrial Corp PLC COM USD0.01                  | CUSIP: G39108108<br>LEI: 549300S6K4FWUSB9KM27 | Long             | EC               | CORP              | GB        |    322753 | NS      | $7433001.59   | 0.73%             |  |  |  | No            |                  1 | On Loan: No      |
| Clearwater Analytics Holdings Inc         | Clearwater Analytics Holdings Inc CL A                 | CUSIP: 185123106<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    136572 | NS      | $2995023.96   | 0.29%             |  |  |  | No            |                  1 | On Loan: No      |
| Adma Biologics Inc                        | Adma Biologics Inc COM USD0.0001                       | CUSIP: 000899104<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    380432 | NS      | $6927666.72   | 0.68%             |  |  |  | No            |                  1 | On Loan: No      |
| Edgewise Therapeutics Inc.                | Edgewise Therapeutics Inc. COM                         | CUSIP: 28036F105<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    235860 | NS      | $3092124.60   | 0.30%             |  |  |  | No            |                  1 | On Loan: No      |
| BellRing Intermediate Holdings Inc.       | BellRing Intermediate Holdings Inc. COMMON STOCK       | CUSIP: 07831C103<br>LEI: 549300S3BOK5CMTS8054 | Long             | EC               | CORP              | US        |     86529 | NS      | $5012624.97   | 0.49%             |  |  |  | No            |                  1 | On Loan: No      |
| Life Time Group Holdings Inc              | Life Time Group Holdings Inc COMMON STOCK              | CUSIP: 53190C102<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    373830 | NS      | $11338263.90  | 1.11%             |  |  |  | No            |                  1 | On Loan: No      |

### Signature

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

**Name of Applicant:** Driehaus Mutual Funds

**Signature:** Robert M. Kurinsky

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

**Title:** Vice President and Treasurer