# EDGAR Filing Document

**Accession Number:** 0001016073
**File Stem:** 0001145549-23-006900
**Filing Date:** 2023-2
**Character Count:** 41265
**Document Hash:** 352856c67da52a4f46d607225cb2cba7
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001145549-23-006900.hdr.sgml**: 20230221

**ACCESSION NUMBER**: 0001145549-23-006900

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 1

**CONFORMED PERIOD OF REPORT**: 20221230

**FILED AS OF DATE**: 20230221

**DATE AS OF CHANGE**: 20230221

**PERIOD START**: 20221231

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** DRIEHAUS MUTUAL FUNDS
- **CENTRAL INDEX KEY:** 0001016073
- **IRS NUMBER:** 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:** 23645873

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

## 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:** 2022-12-31

- **b. Date as of which information is reported:** 2022-12-30

**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:** $454003514.24

**Total Liabilities:** $357850.28

**Net Assets:** $453645663.96

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000190998 | 9.30%                | -0.06%               | -7.48%               |
| Class ID C000190999 | 9.39%                | -0.06%               | -7.45%               |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $-7022700.54             | $50256206.83                               |
| Month 2  | $-7976151.20             | $7681308.71                                |
| Month 3  | $-5414481.79             | $-30596471.67                              |

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| Aspen Aerogels Inc                   | Aspen Aerogels Inc COM USD0.00001                        | CUSIP: 04523Y105<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    183409 | NS      | $2162392.11   | 0.48%             |  |  |  | No            |                  1 | On Loan: No      |
| Impinj Inc                           | Impinj Inc COM USD0.001                                  | CUSIP: 453204109<br>LEI: 549300M26VGKSMMWWN17 | Long             | EC               | CORP              | US        |     83574 | NS      | $9124609.32   | 2.01%             |  |  |  | No            |                  1 | On Loan: No      |
| Axon Enterprise Inc                  | Axon Enterprise Inc COM USD0.00001                       | CUSIP: 05464C101<br>LEI: 549300QP2IEEGFE16681 | Long             | EC               | CORP              | US        |     37850 | NS      | $6280450.50   | 1.38%             |  |  |  | No            |                  1 | On Loan: No      |
| Shyft Group Inc.                     | Shyft Group Inc. COM                                     | CUSIP: 825698103<br>LEI: 549300YY0TB51BGRV994 | Long             | EC               | CORP              | US        |    106637 | NS      | $2650995.82   | 0.58%             |  |  |  | No            |                  1 | On Loan: No      |
| The Duckhorn Portfolio Inc           | The Duckhorn Portfolio Inc COM                           | CUSIP: 26414D106<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    296507 | NS      | $4913120.99   | 1.08%             |  |  |  | No            |                  1 | On Loan: No      |
| Payoneer Global Inc.                 | Payoneer Global Inc. COM                                 | CUSIP: 70451X104<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    551836 | NS      | $3018542.92   | 0.67%             |  |  |  | No            |                  1 | On Loan: No      |
| Procept Biorobotics Corp.            | Procept Biorobotics Corp. COM                            | CUSIP: 74276L105<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     84232 | NS      | $3498997.28   | 0.77%             |  |  |  | No            |                  1 | On Loan: No      |
| MSA Safety Inc.                      | MSA Safety Inc. COM NPV                                  | CUSIP: 553498106<br>LEI: 549300ZG8DNJXBML4F23 | Long             | EC               | CORP              | US        |     14523 | NS      | $2094071.37   | 0.46%             |  |  |  | No            |                  1 | On Loan: No      |
| Apellis Pharmaceuticals Inc          | Apellis Pharmaceuticals Inc COM USD0.0001                | CUSIP: 03753U106<br>LEI: 254900HS0ZFRXXSB9D42 | Long             | EC               | CORP              | US        |     39361 | NS      | $2035357.31   | 0.45%             |  |  |  | No            |                  1 | On Loan: No      |
| Crinetics Pharmaceuticals Inc.       | Crinetics Pharmaceuticals Inc. COM USD0.001              | CUSIP: 22663K107<br>LEI: 549300Q1CNFXK5P31D28 | Long             | EC               | CORP              | US        |    217297 | NS      | $3976535.10   | 0.88%             |  |  |  | No            |                  1 | On Loan: No      |
| Tenable Holdings Inc                 | Tenable Holdings Inc COM USD0.01                         | CUSIP: 88025T102<br>LEI: 5493004S5OMPESF0EF83 | Long             | EC               | CORP              | US        |     46529 | NS      | $1775081.35   | 0.39%             |  |  |  | No            |                  1 | On Loan: No      |
| Shockwave Medical Incorporation      | Shockwave Medical Incorporation COM USD0.001             | CUSIP: 82489T104<br>LEI: 549300LDXO56IC5Y1538 | Long             | EC               | CORP              | US        |      8825 | NS      | $1814508.25   | 0.40%             |  |  |  | No            |                  1 | On Loan: No      |
| Iveric Bio Inc.                      | Iveric Bio Inc. COM                                      | CUSIP: 46583P102<br>LEI: 549300GZXI59U71XPM70 | Long             | EC               | CORP              | US        |     47248 | NS      | $1011579.68   | 0.22%             |  |  |  | No            |                  1 | On Loan: No      |
| Karuna Therapeutics Inc              | Karuna Therapeutics Inc COM USD0.0001                    | CUSIP: 48576A100<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     11873 | NS      | $2333044.50   | 0.51%             |  |  |  | No            |                  1 | On Loan: No      |
| Clear Secure Inc                     | Clear Secure Inc COM CL A                                | CUSIP: 18467V109<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    182556 | NS      | $5007511.08   | 1.10%             |  |  |  | No            |                  1 | On Loan: No      |
| Core & Main Inc                      | Core & Main Inc CL A                                     | CUSIP: 21874C102<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    116182 | NS      | $2243474.42   | 0.49%             |  |  |  | No            |                  1 | On Loan: No      |
| Wingstop Inc                         | Wingstop Inc COM USD0.01                                 | CUSIP: 974155103<br>LEI: 549300SSH3F8HPIM3Q47 | Long             | EC               | CORP              | US        |     51539 | NS      | $7092797.18   | 1.56%             |  |  |  | No            |                  1 | On Loan: No      |
| Maxeon Solar Technologies Limited    | Maxeon Solar Technologies Limited COM NPV                | CUSIP: Y58473102<br>LEI: 5493007JPB074ITT6Y72 | Long             | EC               | CORP              | SG        |    112098 | NS      | $1800293.88   | 0.40%             |  |  |  | No            |                  1 | On Loan: No      |
| Allegro MicroSystems Inc             | Allegro MicroSystems Inc COM                             | CUSIP: 01749D105<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     92838 | NS      | $2786996.76   | 0.61%             |  |  |  | No            |                  1 | On Loan: No      |
| Xometry Inc                          | Xometry Inc CLASS A COM                                  | CUSIP: 98423F109<br>LEI: 5493006JFRGU7YRRXE44 | Long             | EC               | CORP              | US        |    107637 | NS      | $3469140.51   | 0.76%             |  |  |  | No            |                  1 | On Loan: No      |
| SPS Commerce Inc                     | SPS Commerce Inc COM USD0.001                            | CUSIP: 78463M107<br>LEI: 2549006XVF9GCCETDQ72 | Long             | EC               | CORP              | US        |     16871 | NS      | $2166742.53   | 0.48%             |  |  |  | No            |                  1 | On Loan: No      |
| Ryman Hospitality Properties Inc     | Ryman Hospitality Properties Inc COM USD0.01             | CUSIP: 78377T107<br>LEI: 529900GCCWW9SRMPJR11 | Long             | EC               | CORP              | US        |     19741 | NS      | $1614418.98   | 0.36%             |  |  |  | No            |                  1 | On Loan: No      |
| Murphy USA Inc.                      | Murphy USA Inc. COM USD0.01                              | CUSIP: 626755102<br>LEI: 549300Y081F8XIKQIO72 | Long             | EC               | CORP              | US        |     24599 | NS      | $6876404.46   | 1.52%             |  |  |  | No            |                  1 | On Loan: No      |
| Hostess Brands Inc                   | Hostess Brands Inc COM USD0.0001 CL A                    | CUSIP: 44109J106<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     85561 | NS      | $1919988.84   | 0.42%             |  |  |  | No            |                  1 | On Loan: No      |
| Playa Hotels & Resorts N V           | Playa Hotels & Resorts N V COM USD0.01                   | CUSIP: N70544106<br>LEI: 529900BUP3KWPCJNLS49 | Long             | EC               | CORP              | NL        |    303918 | NS      | $1984584.54   | 0.44%             |  |  |  | No            |                  1 | On Loan: No      |
| Celsius Holdings Inc.                | Celsius Holdings Inc. COM USD0.001                       | CUSIP: 15118V207<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     58097 | NS      | $6044411.88   | 1.33%             |  |  |  | No            |                  1 | On Loan: No      |
| WillScot Mobile Mini Holdings Corp   | WillScot Mobile Mini Holdings Corp COM CL A              | CUSIP: 971378104<br>LEI: 549300HJ4VIXF476Q166 | Long             | EC               | CORP              | US        |    211970 | NS      | $9574684.90   | 2.11%             |  |  |  | No            |                  1 | On Loan: No      |
| Array Technologies Inc               | Array Technologies Inc COM SHS                           | CUSIP: 04271T100<br>LEI: 549300JM5FECYJQ85V37 | Long             | EC               | CORP              | US        |    224202 | NS      | $4333824.66   | 0.96%             |  |  |  | No            |                  1 | On Loan: No      |
| Dice Therapeutics Inc                | Dice Therapeutics Inc COM                                | CUSIP: 23345J104<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    167940 | NS      | $5239728.00   | 1.16%             |  |  |  | No            |                  1 | On Loan: No      |
| Golar LNG Limited                    | Golar LNG Limited COM STK USD1.00                        | CUSIP: G9456A100<br>LEI: 213800C2VSFZG3EZLO34 | Long             | EC               | CORP              | BM        |    161544 | NS      | $3681587.76   | 0.81%             |  |  |  | No            |                  1 | On Loan: No      |
| Saia Inc                             | Saia Inc COM USD0.001                                    | CUSIP: 78709Y105<br>LEI: 549300WNPG4N9GBOYB29 | Long             | EC               | CORP              | US        |     15969 | NS      | $3348379.92   | 0.74%             |  |  |  | No            |                  1 | On Loan: No      |
| Chart Industries Inc                 | Chart Industries Inc COM USD0.01                         | CUSIP: 16115Q308<br>LEI: EM7QGKC1GYOF3LSZSL80 | Long             | EC               | CORP              | US        |     40983 | NS      | $4722471.09   | 1.04%             |  |  |  | No            |                  1 | On Loan: No      |
| Exlservice Holdings Inc              | Exlservice Holdings Inc COM STK USD0.001                 | CUSIP: 302081104<br>LEI: 81E3DTNF6OSH489ZOV15 | Long             | EC               | CORP              | US        |     27610 | NS      | $4677962.30   | 1.03%             |  |  |  | No            |                  1 | On Loan: No      |
| KBR Inc                              | KBR Inc COM USD0.001                                     | CUSIP: 48242W106<br>LEI: 254900OFQDXZRKRCV808 | Long             | EC               | CORP              | US        |     60791 | NS      | $3209764.80   | 0.71%             |  |  |  | No            |                  1 | On Loan: No      |
| Calix Networks Inc                   | Calix Networks Inc COM USD0.01                           | CUSIP: 13100M509<br>LEI: 5299002RQRZ4SXSCSJ58 | Long             | EC               | CORP              | US        |    178752 | NS      | $12231999.36  | 2.70%             |  |  |  | No            |                  1 | On Loan: No      |
| Xenon Pharmaceuticals Inc            | Xenon Pharmaceuticals Inc COM NPV                        | CUSIP: 98420N105<br>LEI: 549300XV44Q9Z1MIPQ03 | Long             | EC               | CORP              | CA        |    252172 | NS      | $9943141.96   | 2.19%             |  |  |  | No            |                  1 | On Loan: No      |
| Performance Food Group Company       | Performance Food Group Company COM USD0.01               | CUSIP: 71377A103<br>LEI: 549300EUK8GR9IT1YK57 | Long             | EC               | CORP              | US        |     72359 | NS      | $4225042.01   | 0.93%             |  |  |  | No            |                  1 | On Loan: No      |
| TransMedics Group Inc.               | TransMedics Group Inc. COM NPV                           | CUSIP: 89377M109<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     80148 | NS      | $4946734.56   | 1.09%             |  |  |  | No            |                  1 | On Loan: No      |
| Sprout Social Incorporation          | Sprout Social Incorporation COM CL A                     | CUSIP: 85209W109<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     44005 | NS      | $2484522.30   | 0.55%             |  |  |  | No            |                  1 | On Loan: No      |
| Option Care Health Inc               | Option Care Health Inc COM NEW                           | CUSIP: 68404L201<br>LEI: 549300DI3Q5ACSYJRI17 | Long             | EC               | CORP              | US        |     73103 | NS      | $2199669.27   | 0.48%             |  |  |  | No            |                  1 | On Loan: No      |
| ChampionX Corporation                | ChampionX Corporation COM                                | CUSIP: 15872M104<br>LEI: 549300EP2909K6DYYP38 | Long             | EC               | CORP              | US        |     45493 | NS      | $1318842.07   | 0.29%             |  |  |  | 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        |    251246 | NS      | $6198238.82   | 1.37%             |  |  |  | No            |                  1 | On Loan: No      |
| Gitlab Inc                           | Gitlab Inc CLASS A COM                                   | CUSIP: 37637K108<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     93265 | NS      | $4237961.60   | 0.93%             |  |  |  | No            |                  1 | On Loan: No      |
| Halozyme Therapeutics Inc            | Halozyme Therapeutics Inc COM USD0.001                   | CUSIP: 40637H109<br>LEI: 529900242I3SV9AGM753 | Long             | EC               | CORP              | US        |    178240 | NS      | $10141856.00  | 2.24%             |  |  |  | No            |                  1 | On Loan: No      |
| Super Micro Computer Inc.            | Super Micro Computer Inc. COM USD0.001                   | CUSIP: 86800U104<br>LEI: 54930022CZO1N2UGVW07 | Long             | EC               | CORP              | US        |     27219 | NS      | $2234679.90   | 0.49%             |  |  |  | No            |                  1 | On Loan: No      |
| Iridium Communications, Inc.         | Iridium Communications, Inc. COM USD0.001                | CUSIP: 46269C102<br>LEI: 549300U620NVQ4J1CT96 | Long             | EC               | CORP              | US        |     94569 | NS      | $4860846.60   | 1.07%             |  |  |  | No            |                  1 | On Loan: No      |
| Ambarella Inc                        | Ambarella Inc COM USD0.00045                             | CUSIP: G037AX101<br>LEI: 254900XN7F4DG0CEKC02 | Long             | EC               | CORP              | KY        |     37959 | NS      | $3121368.57   | 0.69%             |  |  |  | No            |                  1 | On Loan: No      |
| Cytokinetics Inc                     | Cytokinetics Inc COM USD0.001                            | CUSIP: 23282W605<br>LEI: 549300BE5DY1HW7IHA64 | Long             | EC               | CORP              | US        |     37313 | NS      | $1709681.66   | 0.38%             |  |  |  | No            |                  1 | On Loan: No      |
| Cyber-Ark Software Limited           | Cyber-Ark Software Limited COM ILS0.01                   | CUSIP: M2682V108<br>LEI: 529900YEXNDM894PWS93 | Long             | EC               | CORP              | IL        |     44676 | NS      | $5792243.40   | 1.28%             |  |  |  | No            |                  1 | On Loan: No      |
| Instructure Holdings Inc.            | Instructure Holdings Inc. COM                            | CUSIP: 457790103<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     98202 | NS      | $2301854.88   | 0.51%             |  |  |  | No            |                  1 | On Loan: No      |
| SPX Technologies, Inc.               | SPX Technologies, Inc. COM                               | CUSIP: 78473E103<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     67800 | NS      | $4451070.00   | 0.98%             |  |  |  | No            |                  1 | On Loan: No      |
| Comfort Systems USA Inc.             | Comfort Systems USA Inc. COM USD0.01                     | CUSIP: 199908104<br>LEI: 5299009DT1ZA5HTU6R38 | Long             | EC               | CORP              | US        |     49101 | NS      | $5650543.08   | 1.25%             |  |  |  | No            |                  1 | On Loan: No      |
| Extreme Networks Inc.                | Extreme Networks Inc. COM USD0.001                       | CUSIP: 30226D106<br>LEI: 549300WRECW11X94UB57 | Long             | EC               | CORP              | US        |    239556 | NS      | $4386270.36   | 0.97%             |  |  |  | No            |                  1 | On Loan: No      |
| Applied Industrial Technologies Inc. | Applied Industrial Technologies Inc. COM NPV             | CUSIP: 03820C105<br>LEI: 549300NU173IJRC6PO38 | Long             | EC               | CORP              | US        |     44176 | NS      | $5567501.28   | 1.23%             |  |  |  | No            |                  1 | On Loan: No      |
| World Wrestling Entertainment, Inc.  | World Wrestling Entertainment, Inc. CLASS'A' COM USD0.01 | CUSIP: 98156Q108<br>LEI: 549300WZVLSCS3L4L698 | Long             | EC               | CORP              | US        |     37264 | NS      | $2553329.28   | 0.56%             |  |  |  | No            |                  1 | On Loan: No      |
| ATI Inc                              | ATI Inc COM USD0.10                                      | CUSIP: 01741R102<br>LEI: ZW1LRE7C3H17O2ZN9B45 | Long             | EC               | CORP              | US        |    188285 | NS      | $5622190.10   | 1.24%             |  |  |  | No            |                  1 | On Loan: No      |
| Digi International Inc.              | Digi International Inc. COM USD0.01                      | CUSIP: 253798102<br>LEI: 529900KG656HGROI4N27 | Long             | EC               | CORP              | US        |     92241 | NS      | $3371408.55   | 0.74%             |  |  |  | No            |                  1 | On Loan: No      |
| Clearfield Inc.                      | Clearfield Inc. COM STK USD0.01                          | CUSIP: 18482P103<br>LEI: 529900M4S2OQ1ADPR537 | Long             | EC               | CORP              | US        |     53453 | NS      | $5032065.42   | 1.11%             |  |  |  | No            |                  1 | On Loan: No      |
| MGP Ingredients Inc.                 | MGP Ingredients Inc. COM NPV                             | CUSIP: 55303J106<br>LEI: 2549006OMHFVZ4MS8538 | Long             | EC               | CORP              | US        |     48918 | NS      | $5203896.84   | 1.15%             |  |  |  | No            |                  1 | On Loan: No      |
| Gentherm Inc                         | Gentherm Inc COM NPV                                     | CUSIP: 37253A103<br>LEI: HKM6YX1U5JS60TCUB219 | Long             | EC               | CORP              | US        |     37703 | NS      | $2461628.87   | 0.54%             |  |  |  | No            |                  1 | On Loan: No      |
| Axcelis Technologies Inc.            | Axcelis Technologies Inc. COM USD0.001                   | CUSIP: 054540208<br>LEI: 529900HF9B6NL1QG9F05 | Long             | EC               | CORP              | US        |    108210 | NS      | $8587545.60   | 1.89%             |  |  |  | No            |                  1 | On Loan: No      |
| TechnipFMC PLC                       | TechnipFMC PLC USD1                                      | CUSIP: G87110105<br>LEI: 549300D5I93QWCJTCK36 | Long             | EC               | CORP              | GB        |    287949 | NS      | $3510098.31   | 0.77%             |  |  |  | No            |                  1 | On Loan: No      |
| Evoqua Water Technologies Corp       | Evoqua Water Technologies Corp COM USD0.01               | CUSIP: 30057T105<br>LEI: 529900YQAOMEZRGRRP43 | Long             | EC               | CORP              | US        |    121765 | NS      | $4821894.00   | 1.06%             |  |  |  | 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        |     32571 | NS      | $8203983.48   | 1.81%             |  |  |  | No            |                  1 | On Loan: No      |
| Parsons Corporation                  | Parsons Corporation COM USD1.00                          | CUSIP: 70202L102<br>LEI: 549300ZXH0VRBSEPX752 | Long             | EC               | CORP              | US        |     52258 | NS      | $2416932.50   | 0.53%             |  |  |  | No            |                  1 | On Loan: No      |
| Denbury Inc                          | Denbury Inc COM                                          | CUSIP: 24790A101<br>LEI: 549300KCWA5W52MS5559 | Long             | EC               | CORP              | US        |     30840 | NS      | $2683696.80   | 0.59%             |  |  |  | No            |                  1 | On Loan: No      |
| Flywire Corporation                  | Flywire Corporation COM VTG                              | CUSIP: 302492103<br>LEI: 54930055DSV7NNY4VY66 | Long             | EC               | CORP              | US        |     88035 | NS      | $2154216.45   | 0.47%             |  |  |  | No            |                  1 | On Loan: No      |
| EngageSmart Inc                      | EngageSmart Inc COMMON STOCK                             | CUSIP: 29283F103<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    210787 | NS      | $3709851.20   | 0.82%             |  |  |  | No            |                  1 | On Loan: No      |
| Ventyx Biosciences Inc.              | Ventyx Biosciences Inc. COM                              | CUSIP: 92332V107<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     67361 | NS      | $2208767.19   | 0.49%             |  |  |  | No            |                  1 | On Loan: No      |
| Fabrinet                             | Fabrinet COM USD0.01                                     | CUSIP: G3323L100<br>LEI: 5493004TETZ6IYF7CV44 | Long             | EC               | CORP              | KY        |     46529 | NS      | $5965948.38   | 1.32%             |  |  |  | No            |                  1 | On Loan: No      |
| Ameresco Inc                         | Ameresco Inc COM USD0.0001 CL 'A'                        | CUSIP: 02361E108<br>LEI: 529900NZXZGBCBXYY327 | Long             | EC               | CORP              | US        |     39809 | NS      | $2274686.26   | 0.50%             |  |  |  | No            |                  1 | On Loan: No      |
| Paylocity Holding Corporation        | Paylocity Holding Corporation COM USD0.001               | CUSIP: 70438V106<br>LEI: 549300VH75FTB4DIEE07 | Long             | EC               | CORP              | US        |     23722 | NS      | $4608235.72   | 1.02%             |  |  |  | No            |                  1 | On Loan: No      |
| Axsome Therapeutics Incorporation    | Axsome Therapeutics Incorporation COM USD0.0001          | CUSIP: 05464T104<br>LEI: 549300EXGR0XLRJEIB95 | Long             | EC               | CORP              | US        |     46346 | NS      | $3574666.98   | 0.79%             |  |  |  | No            |                  1 | On Loan: No      |
| Kinsale Capital Group Inc            | Kinsale Capital Group Inc COM USD0.01                    | CUSIP: 49714P108<br>LEI: 529900QTUQHNZ6HOA508 | Long             | EC               | CORP              | US        |     43347 | NS      | $11336107.44  | 2.50%             |  |  |  | No            |                  1 | On Loan: No      |
| E L F Beauty Inc                     | E L F Beauty Inc COM USD0.01                             | CUSIP: 26856L103<br>LEI: 549300U2K9TCON25C029 | Long             | EC               | CORP              | US        |    138782 | NS      | $7674644.60   | 1.69%             |  |  |  | No            |                  1 | On Loan: No      |
| Dycom Industries, Inc.               | Dycom Industries, Inc. COM USD0.333                      | CUSIP: 267475101<br>LEI: 549300F56EKTHQI3WT60 | Long             | EC               | CORP              | US        |     34972 | NS      | $3273379.20   | 0.72%             |  |  |  | No            |                  1 | On Loan: No      |
| Fluor Corporation                    | Fluor Corporation COM USD0.01                            | CUSIP: 343412102<br>LEI: CQ7WZ4NOFWT7FAE6Q943 | Long             | EC               | CORP              | US        |    150374 | NS      | $5211962.84   | 1.15%             |  |  |  | No            |                  1 | On Loan: No      |
| Axonics Inc                          | Axonics Inc COM USD0.0001                                | CUSIP: 05465P101<br>LEI: 549300LJY4X7N57VJL05 | Long             | EC               | CORP              | US        |     36771 | NS      | $2299290.63   | 0.51%             |  |  |  | No            |                  1 | On Loan: No      |
| Vaxcyte Inc                          | Vaxcyte Inc COM                                          | CUSIP: 92243G108<br>LEI: 254900M7NMHTGASX8D95 | Long             | EC               | CORP              | US        |     61108 | NS      | $2930128.60   | 0.65%             |  |  |  | No            |                  1 | On Loan: No      |
| Relay Therapeutics Inc               | Relay Therapeutics Inc COM                               | CUSIP: 75943R102<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    110757 | NS      | $1654709.58   | 0.36%             |  |  |  | No            |                  1 | On Loan: No      |
| Driven Brands Holdings Inc           | Driven Brands Holdings Inc COM                           | CUSIP: 26210V102<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     97775 | NS      | $2670235.25   | 0.59%             |  |  |  | No            |                  1 | On Loan: No      |
| Prometheus Biosciences Inc.          | Prometheus Biosciences Inc. COM                          | CUSIP: 74349U108<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     13665 | NS      | $1503150.00   | 0.33%             |  |  |  | No            |                  1 | On Loan: No      |
| Nuvalent Inc                         | Nuvalent Inc COM                                         | CUSIP: 670703107<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    172219 | NS      | $5128681.82   | 1.13%             |  |  |  | No            |                  1 | On Loan: No      |
| Xponential Fitness Inc               | Xponential Fitness Inc COM CL A                          | CUSIP: 98422X101<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    212616 | NS      | $4875284.88   | 1.07%             |  |  |  | No            |                  1 | On Loan: No      |
| FTI Consulting, Inc.                 | FTI Consulting, Inc. COM USD0.01                         | CUSIP: 302941109<br>LEI: 549300K17GM8EQD0FQ48 | Long             | EC               | CORP              | US        |     15018 | NS      | $2384858.40   | 0.53%             |  |  |  | No            |                  1 | On Loan: No      |
| Emcor Group Inc                      | Emcor Group Inc COM STK USD0.01                          | CUSIP: 29084Q100<br>LEI: 529900X0SQJB2J7YDU43 | Long             | EC               | CORP              | US        |     39312 | NS      | $5822500.32   | 1.28%             |  |  |  | No            |                  1 | On Loan: No      |
| Aaon Inc                             | Aaon Inc COM STK USD0.004                                | CUSIP: 000360206<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     41725 | NS      | $3142727.00   | 0.69%             |  |  |  | No            |                  1 | On Loan: No      |
| Harmonic Inc                         | Harmonic Inc COM USD0.001                                | CUSIP: 413160102<br>LEI: 549300LRGRD8XC9BTL66 | Long             | EC               | CORP              | US        |    173072 | NS      | $2267243.20   | 0.50%             |  |  |  | No            |                  1 | On Loan: No      |
| AMN Healthcare Services Inc          | AMN Healthcare Services Inc COM USD0.01                  | CUSIP: 001744101<br>LEI: 529900W3ARRTCNFH2I39 | Long             | EC               | CORP              | US        |     64692 | NS      | $6651631.44   | 1.47%             |  |  |  | No            |                  1 | On Loan: No      |
| Valmont Industries, Inc.             | Valmont Industries, Inc. COM USD1                        | CUSIP: 920253101<br>LEI: 5493009ZGZJJ8F77JN08 | Long             | EC               | CORP              | US        |     15518 | NS      | $5131337.06   | 1.13%             |  |  |  | No            |                  1 | On Loan: No      |
| Patterson-UTI Energy Inc.            | Patterson-UTI Energy Inc. COM USD0.01                    | CUSIP: 703481101<br>LEI: 254900XGFBKIXD6G0697 | Long             | EC               | CORP              | US        |     93155 | NS      | $1568730.20   | 0.35%             |  |  |  | No            |                  1 | On Loan: No      |
| Hancock Whitney Corporation          | Hancock Whitney Corporation COM USD3.33                  | CUSIP: 410120109<br>LEI: 549300GRNBWY8HIICT41 | Long             | EC               | CORP              | US        |     48967 | NS      | $2369513.13   | 0.52%             |  |  |  | No            |                  1 | On Loan: No      |
| Plexus Corp                          | Plexus Corp COM USD0.01                                  | CUSIP: 729132100<br>LEI: 549300W7HCBI5YT25I79 | Long             | EC               | CORP              | US        |     31133 | NS      | $3204519.69   | 0.71%             |  |  |  | No            |                  1 | On Loan: No      |
| Rambus Inc.                          | Rambus Inc. COM USD0.001                                 | CUSIP: 750917106<br>LEI: 2549000211GDCQSLV833 | Long             | EC               | CORP              | US        |     50405 | NS      | $1805507.10   | 0.40%             |  |  |  | No            |                  1 | On Loan: No      |
| Renaissancere Holdings Ltd.          | Renaissancere Holdings Ltd. COM USD1                     | CUSIP: G7496G103<br>LEI: EK6GB9U3U58PDI411C94 | Long             | EC               | CORP              | BM        |     21088 | NS      | $3885042.24   | 0.86%             |  |  |  | No            |                  1 | On Loan: No      |
| Tetra Tech Inc                       | Tetra Tech Inc COM USD0.01                               | CUSIP: 88162G103<br>LEI: 549300UJ1LP7JGJC5P32 | Long             | EC               | CORP              | US        |     37057 | NS      | $5380305.83   | 1.19%             |  |  |  | No            |                  1 | On Loan: No      |
| Badger Meter Inc                     | Badger Meter Inc COM USD1                                | CUSIP: 056525108<br>LEI: 5493002JENE20OGTUG20 | Long             | EC               | CORP              | US        |     41884 | NS      | $4566612.52   | 1.01%             |  |  |  | No            |                  1 | On Loan: No      |
| Cameco Corporation                   | Cameco Corporation COM NPV                               | CUSIP: 13321L108<br>LEI: N4BHALMXL3GMZKCUON55 | Long             | EC               | CORP              | CA        |    224696 | NS      | $5093858.32   | 1.12%             |  |  |  | No            |                  1 | On Loan: No      |
| Merus B V                            | Merus B V EUR0.09                                        | CUSIP: N5749R100<br>LEI: 549300W8GPUWU8QNU293 | Long             | EC               | CORP              | NL        |     85670 | NS      | $1325314.90   | 0.29%             |  |  |  | No            |                  1 | On Loan: No      |
| Agilysys Inc                         | Agilysys Inc COM NPV                                     | CUSIP: 00847J105<br>LEI: 5299001XWB5V3B5IPN93 | Long             | EC               | CORP              | US        |     38428 | NS      | $3041191.92   | 0.67%             |  |  |  | No            |                  1 | On Loan: No      |
| Exponent Inc                         | Exponent Inc COM USD0.001                                | CUSIP: 30214U102<br>LEI: 529900NY3F5Q2NWPUZ42 | Long             | EC               | CORP              | US        |     22710 | NS      | $2250333.90   | 0.50%             |  |  |  | No            |                  1 | On Loan: No      |
| Texas Roadhouse Inc                  | Texas Roadhouse Inc COM USD0.001                         | CUSIP: 882681109<br>LEI: 5299002Y1CNRPDGXTQ75 | Long             | EC               | CORP              | US        |     50235 | NS      | $4568873.25   | 1.01%             |  |  |  | No            |                  1 | On Loan: No      |
| Inter Parfums Inc                    | Inter Parfums Inc COM USD0.001                           | CUSIP: 458334109<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     16431 | NS      | $1585920.12   | 0.35%             |  |  |  | No            |                  1 | On Loan: No      |
| Visteon Corporation                  | Visteon Corporation COM USD0.01                          | CUSIP: 92839U206<br>LEI: 549300MOVLYHRW4GGW78 | Long             | EC               | CORP              | US        |     64314 | NS      | $8414200.62   | 1.85%             |  |  |  | No            |                  1 | On Loan: No      |
| Crocs Inc                            | Crocs Inc COM STK USD0.001                               | CUSIP: 227046109<br>LEI: 549300B0J6YCXD63OG72 | Long             | EC               | CORP              | US        |     50226 | NS      | $5446005.18   | 1.20%             |  |  |  | No            |                  1 | On Loan: No      |
| Northern Inst Fds                    | Northern Inst Fds GOVT SELECT PT                         | CUSIP: 665278701<br>LEI: 549300Y178DO5JBR1S04 | Long             | STIV             | RF                | US        |   4715294 | NS      | $4715294.07   | 1.04%             |  |  |  | No            |                  1 | On Loan: No      |
| Matador Resources Company            | Matador Resources Company COM USD0.01                    | CUSIP: 576485205<br>LEI: 549300CI3Q2UUK5R4G79 | Long             | EC               | CORP              | US        |     83086 | NS      | $4755842.64   | 1.05%             |  |  |  | No            |                  1 | On Loan: No      |
| ProFrac Holding Corp.                | ProFrac Holding Corp. CLASS A COM                        | CUSIP: 74319N100<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    137051 | NS      | $3453685.20   | 0.76%             |  |  |  | No            |                  1 | On Loan: No      |
| Bellring Brands Inc.                 | Bellring Brands Inc. COMMON STOCK                        | CUSIP: 07831C103<br>LEI: 549300S3BOK5CMTS8054 | Long             | EC               | CORP              | US        |    139903 | NS      | $3587112.92   | 0.79%             |  |  |  | No            |                  1 | On Loan: No      |
| Excelerate Energy Inc.               | Excelerate Energy Inc. CL A COM                          | CUSIP: 30069T101<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     99555 | NS      | $2493852.75   | 0.55%             |  |  |  | No            |                  1 | On Loan: No      |

### Signature

**Date Signed:** 2023-01-31

**Name of Applicant:** Driehaus Mutual Funds

**Signature:** Robert M. Kurinsky

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

**Title:** Vice President and Treasurer