NPORT-P
false
0001016073
XXXXXXXX
S000025648
C000076810
DRIEHAUS MUTUAL FUNDS
811-07655
0001016073
25490065PZVMACERQ816
25 EAST ERIE STREET
CHICAGO
606112703
3125873800
Driehaus Active Income Fund
S000025648
549300KC041JFTN8GZ07
2019-12-31
2019-09-30
N
400058753.010000000000
26738625.030000000000
373320127.980000000000
0.000000000000
0.000000000000
0.000000000000
0.000000000000
0.000000000000
0.000000000000
0.000000000000
0.000000000000
0.000000000000
0.000000000000
0.000000000000
0.000000000000
0.000000000000
45276190.760000000000
USD
N
AK STEEL CORP
O05HJM8THRTZG4688Q91
AK Steel Corp.
001546AS9
6000000
PA
USD
5910000
1.5830917106
Long
DBT
CORP
US
N
2
2021-10-01
Fixed
7.6250
N
N
N
N
N
N
AMN HEALTHCARE INC
549300H27NUKBFFQEE84
AMN Healthcare, Inc.
00175PAA1
3000000
PA
USD
3112500
0.8337348476
Long
DBT
CORP
US
Y
2
2024-10-01
Fixed
5.1250
N
N
N
N
N
N
ACRISURE LLC / FIN INC
N/A
Acrisure LLC / Acrisure Finance, Inc.
00489LAC7
5318000
PA
USD
5730145
1.5349145601
Long
DBT
CORP
US
Y
2
2024-02-15
Fixed
8.1250
N
N
N
N
N
N
ALTICE LUXEMBOURG SA
2221006ZDZREFLFIFQ42
Altice Luxembourg S.A.
02154VAA9
610000
PA
USD
622962.50
0.1668708578
Long
DBT
CORP
LU
Y
2
2022-05-15
Fixed
7.75
N
N
N
N
N
N
ARDAGH PKG FIN/HLDGS USA
N/A
Ardagh Packaging Finance PLC / Ardagh Holdings USA, Inc.
03969AAL4
5060000
PA
USD
5290736
1.4172115574
Long
DBT
CORP
XX
Y
2
2025-02-15
Fixed
6
N
N
N
N
N
N
AVAYA HOLDINGS CORP
549300NZS2OZN6Q63A60
Avaya Holdings Corp.
05351XAB7
4625000
PA
USD
3939186.50
1.0551765642
Long
DBT
CORP
US
N
2
2023-06-15
Fixed
2.25
N
N
N
N
Y
Avaya Holdings Corp
Avaya Holdings Corp
USD
XXXX
N
N
N
AVIS BUDGET CAR/FINANCE
N/A
Avis Budget Car Rental LLC / Avis Budget Finance, Inc.
053773BA4
-1000000
PA
USD
-1035000
-0.2772419493
Short
DBT
CORP
US
Y
2
2025-03-15
Fixed
5.25
N
N
N
N
N
N
AVON INTERNATIONAL CAPIT
N/A
Avon International Capital PLC
05409AAA1
2500000
PA
USD
2590625
0.6939419565
Long
DBT
CORP
GB
Y
2
2022-08-15
Fixed
6.50
N
N
N
N
N
N
AVON INTERNATIONAL OPERA
549300TLB866S6OTS133
Avon International Operations, Inc.
05409QAA6
6136000
PA
USD
6387391.92
1.7109690695
Long
DBT
CORP
US
Y
2
2022-08-15
Fixed
7.8750
N
N
N
N
N
N
BLACKBOARD INC
549300ONVS6PJZ5LRX23
Blackboard, Inc.
091935AD8
-500000
PA
USD
-500000
-0.1339333088
Short
DBT
CORP
US
Y
2
2021-10-15
Fixed
9.75
N
N
N
N
N
N
BOMBARDIER INC
W7L3VLU8EHQY34Z36697
Bombardier, Inc.
097751BP5
4500000
PA
USD
4860000
1.3018317620
Long
DBT
CORP
CA
Y
2
2021-12-01
Fixed
8.75
N
N
N
N
N
N
CEC ENTERTAINMENT INC
549300MWTY75LB8TRO50
CEC Entertainment, Inc.
125137AB5
4000000
PA
USD
3790000
1.0152144811
Long
DBT
CORP
US
N
2
2022-02-15
Fixed
8
N
N
N
N
N
N
CVR PARTNERS/CVR NITROGE
N/A
CVR Partners LP / CVR Nitrogen Finance Corp.
12663QAA3
160000
PA
USD
166800
0.0446801518
Long
DBT
CORP
US
Y
2
2023-06-15
Fixed
9.25
N
N
N
N
N
N
COMPASS GROUP DIVERSIFIE
549300I6PTUQPX21TE93
Compass Group Diversified Holdings LLC
20451RAA0
7943000
PA
USD
8399722.50
2.2500052557
Long
DBT
CORP
US
Y
2
2026-05-01
Fixed
8
N
N
N
N
N
N
CONSOLIDATED COMMUNICATI
549300WW675Y48HDVX34
Consolidated Communications, Inc.
20903XAE3
12451000
PA
USD
11517175
3.0850667127
Long
DBT
CORP
US
N
2
2022-10-01
Fixed
6.50
N
N
N
N
N
N
COTT HOLDINGS INC
N/A
Cott Holdings, Inc.
221644AA5
5000000
PA
USD
5187650
1.3895982593
Long
DBT
CORP
US
Y
2
2025-04-01
Fixed
5.50
N
N
N
N
N
N
CUMULUS MEDIA NEW HLDGS
5493001D9VBAVY1OKJ46
Cumulus Media New Holdings, Inc.
23110AAA4
2400000
PA
USD
2514000
0.6734166769
Long
DBT
CORP
US
Y
2
2026-07-01
Fixed
6.75
N
N
N
N
N
N
DAVITA INC
M2XHYMU3TZNEZURC6H66
DaVita, Inc.
23918KAQ1
-2000000
PA
USD
-2042500
-0.5471175666
Short
DBT
CORP
US
N
2
2024-07-15
Fixed
5.1250
N
N
N
N
N
N
DONNELLEY FINANCIAL SOL
549300O1NPY4J56QCU04
Donnelley Financial Solutions, Inc.
25787GAC4
5215000
PA
USD
5410562.50
1.4493090767
Long
DBT
CORP
US
N
2
2024-10-15
Fixed
8.25
N
N
N
N
N
N
MOUNTAIN PROVINCE DIAMON
549300Y5548SJTH51N28
Mountain Province Diamonds, Inc.
62426EAA3
3644000
PA
USD
3562010
0.9541435709
Long
DBT
CORP
CA
Y
2
2022-12-15
Fixed
8
N
N
N
N
N
N
NCR CORP
549300YKTY8JX1DV2R67
NCR Corp.
62886EAS7
8000000
PA
USD
8220000
2.2018635975
Long
DBT
CORP
US
N
2
2023-12-15
Fixed
6.3750
N
N
N
N
N
N
NIELSEN FINANCE LLC/CO
N/A
Nielsen Finance LLC / Nielsen Finance Co.
65409QBB7
5559000
PA
USD
5574565.20
1.4932399253
Long
DBT
CORP
US
Y
2
2022-04-15
Fixed
5
N
N
N
N
N
N
PETSMART INC
N/A
PetSmart, Inc.
716768AC0
4250000
PA
USD
4239375
1.1355870424
Long
DBT
CORP
US
Y
2
2025-06-01
Fixed
5.8750
N
N
N
N
N
N
TAYLOR MORR COMM/HLDGS
N/A
Taylor Morrison Communities, Inc. / Taylor Morrison Holdings II, Inc.
87724LAA3
2000000
PA
USD
2135000
0.5718952288
Long
DBT
CORP
XX
Y
2
2023-04-15
Fixed
5.8750
N
N
N
N
N
N
TRANSOCEAN PONTUS LTD
N/A
Transocean Pontus Ltd.
89382PAA3
6230000
PA
USD
6323450
1.6938411637
Long
DBT
CORP
KY
Y
2
2025-08-01
Fixed
6.1250
N
N
N
N
N
N
USB REALTY CORP
N/A
USB Realty Corp.
903312AA4
12435000
PA
USD
10631925
2.8479377894
Long
DBT
CORP
US
Y
2
2162-01-15
Variable
3.450380
N
N
N
N
N
N
UBER TECHNOLOGIES INC
549300B2FTG34FILDR98
Uber Technologies, Inc.
90353TAA8
4000000
PA
USD
4030000
1.0795024693
Long
DBT
CORP
US
Y
2
2023-11-01
Fixed
7.50
N
N
N
N
N
N
UNISYS CORP
549300T21W22FIJJOW08
Unisys Corp.
909214BT4
4960000
PA
USD
5418800
1.4515156280
Long
DBT
CORP
US
Y
2
2022-04-15
Fixed
10.75
N
N
N
N
N
N
UNIVAR USA INC
5493008FTB9VZW6CVA82
Univar USA, Inc.
91336RAA2
6500000
PA
USD
6605625
1.7694264265
Long
DBT
CORP
US
Y
2
2023-07-15
Fixed
6.75
N
N
N
N
N
N
VECTOR GROUP LTD
549300TUIF4WWN6NDN50
Vector Group Ltd.
92240MBF4
10560000
PA
USD
10111200
2.7084529449
Long
DBT
CORP
US
Y
2
2025-02-01
Fixed
6.1250
N
N
N
N
N
N
VIRGIN AUSTRALIA HOLDING
254900SNPW6V9967CJ18
Virgin Australia Holdings Ltd.
92765YAE7
5956000
PA
USD
5977595.60
1.6011983153
Long
DBT
CORP
AU
Y
2
2019-11-15
Fixed
8.50
N
N
N
N
N
N
ILFC E-CAPITAL TRUST I
N/A
ILFC E-Capital Trust I
EF2140525
1750000
PA
USD
1197805
0.3208519740
Long
SN
NUSS
US
N
2
2065-12-21
Variable
3.77
N
N
N
N
N
N
BLACKBOARD INC
549300ONVS6PJZ5LRX23
Blackboard, Inc.
09227CAQ4
5000000
PA
USD
4993225
1.3375182921
Long
LON
CORP
US
N
2
2021-06-18
Floating
6
N
N
N
N
N
N
UNITI GROUP LP
N/A
Uniti Group LP
20341UAD1
5485933.50
PA
USD
5361649.68
1.4362069651
Long
LON
CORP
US
N
2
2022-10-24
Floating
7.0435
N
N
N
N
N
N
ASURION LLC
549300KNQVXGIOXWK278
Asurion LLC
04649VAU4
12628049.16
PA
USD
12847461.51
3.4414060607
Long
LON
CORP
US
N
2
2025-08-04
Floating
8.5435
N
N
N
N
N
N
MCAFEE LLC
549300713UKUTLV9T378
McAfee LLC
BL2516963
4963636.36
PA
USD
5029826.45
1.3473225988
Long
LON
CORP
US
N
2
2025-09-28
Floating
10.615880
N
N
N
N
N
N
ACRISURE LLC
549300R0Z1Q47XRTGO22
Acrisure LLC
00488PAJ4
3260740.71
PA
USD
3251578.03
0.8709892091
Long
LON
CORP
US
N
2
2023-11-22
Floating
6.354380
N
N
N
N
N
N
INTELSAT JACKSON HLDG
8XJ8KF85PBKK1TLMFN29
Intelsat Jackson Holdings S.A.
BL2559625
5000000
PA
USD
5021100
1.3449850741
Long
LON
CORP
LU
N
2
2023-11-27
Floating
5.991130
N
N
N
N
N
N
QUIKSILVER INC
54930013HYANWRQLRU09
Boardriders, Inc.
BL2641811
3921916.19
PA
USD
3774844.33
1.0111547830
Long
LON
CORP
US
N
2
2024-04-06
Floating
8.6120
N
N
N
N
N
N
HOYA MIDCO LLC
549300LK73TSUP0YKH27
Hoya Midco LLC
44325HAB4
4345673.60
PA
USD
4296784.77
1.1509652033
Long
LON
CORP
US
N
2
2024-06-30
Floating
5.6120
N
N
N
N
N
N
HEARTLAND DENTAL LLC
5493008FRC0GRKBN1075
Heartland Dental LLC
BL2679316
298824.60
PA
USD
293081.19
0.0785066671
Long
LON
CORP
US
N
2
2025-04-30
Floating
5.7935
N
N
N
N
N
N
HEARTLAND DENTAL LLC
5493008FRC0GRKBN1075
Heartland Dental LLC
42236WAJ6
6721.31
PA
USD
6592.13
0.0017658116
Long
LON
CORP
US
N
2
2025-04-30
Floating
6.272380
N
N
N
N
N
N
NEP GROUP INC
N/A
NEP/NCP Holdco, Inc.
BL2812347
6500000
PA
USD
6380855
1.7092180469
Long
LON
CORP
US
N
2
2026-10-19
Floating
9.0435
N
N
N
N
N
N
MCAFEE LLC
549300713UKUTLV9T378
McAfee LLC
57906PAG4
2318501.39
PA
USD
2326535
0.6232010614
Long
LON
CORP
US
N
2
2024-09-29
Floating
5.865880
N
N
N
N
N
N
ABE INVESTMENT HOLDINGS
N/A
Abe Investment Holdings, Inc.
999999999
3950075.25
PA
USD
3943498.37
1.0563315703
Long
LON
CORP
US
N
2
2026-02-19
Floating
6.5625
N
N
N
N
N
N
TIVITY HEALTH INC
U5UKZMHGMOP0CPFG4B24
Tivity Health, Inc.
88870TAG3
5728915.67
PA
USD
5701445.52
1.5272269274
Long
LON
CORP
US
N
2
2026-03-08
Floating
7.3620
N
N
N
N
N
N
IHEARTCOMMUNICATIONS INC
54930076J6KDZL504O62
iHeartCommunications, Inc.
BL2985184
5913363.98
PA
USD
5958719.48
1.5961420329
Long
LON
CORP
US
N
2
2026-05-01
Floating
6.229750
N
N
N
N
N
N
MHI HOLDINGS LLC
N/A
MHI Holdings LLC
BL3145374
1000000
PA
USD
1001250
0.2682014510
Long
LON
CORP
US
N
2
2026-09-20
Floating
5
N
N
N
N
N
N
CERENCE INC
N/A
Cerence, Inc.
15672UAC2
5000000
PA
USD
4700000
1.2589731032
Long
LON
CORP
US
N
2
2024-09-30
Floating
7
N
N
N
N
N
N
FOSSIL GROUP INC
DDMY8YZ6L8UEMS1FDM73
Fossil Group, Inc.
BL3168970
6000000
PA
USD
5880000
1.5750557121
Long
LON
CORP
US
N
2
2024-09-19
Floating
0
N
N
N
N
N
N
Consolidated Communications Ho
529900F6S64KOO8CXH48
Consolidated Communications Holdings, Inc.
209034107
221265
NS
USD
1053221.40
0.2821228541
Long
EC
CORP
US
N
1
N
N
N
Compass Diversified Holdings
5299001SM1LBYANJRR58
Compass Diversified Holdings
20451Q104
-40000
NS
USD
-788400
-0.2111860414
Short
CORP
US
N
1
N
N
N
5YR T-NOTE FUTURE DEC 2019 /
N/A
5YR T-NOTE FUTURE DEC 2019 /
999999999
-34
NC
USD
27279.48
0.0073072620
N/A
DIR
CORP
US
N
1
Goldman Sachs
N/A
Short
5YR T-NOTE FUTURE DEC 2019 /
5YR T-NOTE FUTURE DEC 2019 /
2019-12-31
-4078326.35
USD
27279.48
N
N
N
Herbalife Nutrition Ltd
549300BA7TYPBSZZIA41
Herbalife Nutrition Ltd.
G4412G101
-12000
NS
USD
-454320
-0.1216971618
Short
EC
CORP
US
N
1
N
N
N
SPX INDEX OPT DEC 19 PUT KNOCK IN /
N/A
SPX INDEX OPT DEC 19 PUT KNOCK IN /
999999999
10200
NC
USD
598281
0.1602595079
Long
DE
CORP
US
N
2
Credit Suisse
N/A
Put
Purchased
S & P 500 03/01/97
S&P500
100
2864.730000000000
USD
2019-12-31
XXXX
46461
N
N
N
SPX INDEX OPT DEC 19 PUT KNOCK IN /
N/A
SPX INDEX OPT DEC 19 PUT KNOCK IN /
999999999
-10200
NC
USD
-166403.82
-0.0445740284
Short
DE
CORP
US
N
2
Credit Suisse
N/A
Put
Written
S & P 500 03/01/97
S&P500
100
2563.180000000000
USD
2019-12-31
XXXX
-12383.82
N
N
N
Kearny Financial Corp/MD
N/A
Kearny Financial Corp.
48716P108
81506
NS
USD
1062838.24
0.2846988845
Long
EC
CORP
US
N
1
N
N
N
LARCHMONT RESOURCES LLC /
N/A
LARCHMONT RESOURCES LLC /
51699U9F1
7824
NS
USD
1956000
0.5239471042
Long
EC
CORP
US
N
3
N
N
N
10 YR T-NOTE FUTURE DEC 2019 /
N/A
10 YR T-NOTE FUTURE DEC 2019 /
999999999
-20
NC
USD
29484.26
0.0078978490
N/A
DIR
CORP
US
N
1
Goldman Sachs
N/A
Short
10 YR T-NOTE FUTURE DEC 2019 /
10 YR T-NOTE FUTURE DEC 2019 /
2019-12-19
-2635734.26
USD
29484.26
N
N
N
U.S. LONG BOND FUTURE DEC 2019 /
N/A
U.S. LONG BOND FUTURE DEC 2019 /
999999999
-4
NC
USD
13615.60
0.0036471647
N/A
DIR
CORP
US
N
1
Goldman Sachs
N/A
Short
U.S. LONG BOND FUTURE DEC 2019 /
U.S. LONG BOND FUTURE DEC 2019 /
2019-12-19
-662865.60
USD
13615.60
N
N
N
EIG INVESTORS CORP
549300AWVC7LBOKRMB96
EIG Investors Corp.
26854XAB5
9560000
PA
USD
9942400
2.6632370598
Long
DBT
CORP
US
N
2
2024-02-01
Fixed
10.8750
N
N
N
N
N
N
ENVIVA PARTNERS LP/FIN C
N/A
Enviva Partners LP / Enviva Partners Finance Corp.
29413XAB3
6000000
PA
USD
6135000
1.6433616996
Long
DBT
CORP
US
N
2
2021-11-01
Fixed
8.50
N
N
N
N
N
N
FORTRESS TRANS & INFRAST
529900E7PUVK6BC8PE80
Fortress Transportation & Infrastructure Investors LLC
34960PAA9
8000000
PA
USD
8360000
2.2393649239
Long
DBT
CORP
US
Y
2
2022-03-15
Fixed
6.75
N
N
N
N
N
N
GCI LLC
549300N3IE9H88Q20221
GCI LLC
36155WAK2
6000000
PA
USD
6315000
1.6915776908
Long
DBT
CORP
US
N
2
2025-04-15
Fixed
6.8750
N
N
N
N
N
N
GCI LLC
549300N3IE9H88Q20221
GCI LLC
36166TAA8
500000
PA
USD
539375
0.1444805569
Long
DBT
CORP
US
Y
2
2024-06-15
Fixed
6.6250
N
N
N
N
N
N
GMAC CAPITAL TRUST I
N/A
GMAC Capital Trust I
361860208
534658
NS
USD
14013386.18
3.7537183585
Long
EP
CORP
US
N
1
N
N
N
GAMESTOP CORP
549300505KLOET039L77
GameStop Corp.
36467WAB5
3650000
PA
USD
3577000
0.9581588915
Long
DBT
CORP
US
Y
2
2021-03-15
Fixed
6.75
N
N
N
N
N
N
GENERAL MILLS INC
2TGYMUGI08PO8X8L6150
General Mills, Inc.
370334CG7
-2000000
PA
USD
-2230482
-0.5974716692
Short
DBT
CORP
US
N
2
2028-04-17
Fixed
4.20
N
N
N
N
N
N
GENERAL MTRS Corp. DEB Sr. C.V. C ESCROW /
N/A
GENERAL MTRS Corp. DEB Sr. C.V. C ESCROW /
370ESC717
11790650
NS
USD
0
0.0000000000
Long
EP
CORP
US
N
3
N
N
N
GENERAL MTRS Corp. DEB Sr. CONV B ESCROW /
N/A
GENERAL MTRS Corp. DEB Sr. CONV B ESCROW /
370ESC733
475000
NS
USD
0
0.0000000000
Long
EP
CORP
US
N
3
N
N
N
GENWORTH HOLDINGS INC
PXDECZED7L8SRUP41R09
Genworth Holdings, Inc.
37247DAM8
8764000
PA
USD
8961190
2.4004036558
Long
DBT
CORP
US
N
2
2020-06-15
Fixed
7.70
N
N
N
N
N
N
HLF FIN SARL LLC/HERBALI
N/A
HLF Financing Sarl LLC / Herbalife International, Inc.
40390DAA3
9995000
PA
USD
10094950
2.7041001123
Long
DBT
CORP
US
Y
2
2026-08-15
Fixed
7.25
N
N
N
N
N
N
HC2 HOLDINGS INC
549300S6O246JWQQ1K58
HC2 Holdings, Inc.
404139AD9
3672000
PA
USD
3231360
0.8655734738
Long
DBT
CORP
US
Y
2
2021-12-01
Fixed
11.50
N
N
N
N
N
N
HADRIAN MERGER SUB
N/A
Hadrian Merger Sub, Inc.
42239PAA7
-3940000
PA
USD
-3846425
-1.0303288550
Short
DBT
CORP
US
Y
2
2026-05-01
Fixed
8.50
N
N
N
N
N
N
ILFC E-CAPITAL TRUST I
N/A
ILFC E-Capital Trust I
44965TAA5
3206000
PA
USD
2194378.76
0.5878008164
Long
SN
CORP
US
Y
2
2065-12-21
Variable
3.77
N
N
N
N
N
N
IHEARTCOMMUNICATIONS INC
54930076J6KDZL504O62
iHeartCommunications, Inc.
45174HBD8
2500000
PA
USD
2700750
0.7234407677
Long
DBT
CORP
US
N
2
2027-05-01
Fixed
8.3750
N
N
N
N
N
N
J2 CLOUD LLC/GLOBAL INC
N/A
j2 Cloud Services LLC / j2 Global Co.-Obligor, Inc.
466253AA9
3750000
PA
USD
3959437.50
1.0606011311
Long
DBT
CORP
US
Y
2
2025-07-15
Fixed
6
N
N
N
N
N
N
JPMORGAN CHASE & CO
8I5DZWZKVSZI1NUHU748
JPMorgan Chase & Co.
46625HHA1
13081000
PA
USD
13142310.65
3.5203863025
Long
DBT
CORP
US
N
2
2049-12-29
Variable
5.735750
N
N
N
N
N
N
LSB INDUSTRIES
5493001H215A0HG0MI71
LSB Industries, Inc.
502160AM6
2000000
PA
USD
2110000
0.5651985633
Long
DBT
CORP
US
Y
2
2023-05-01
Fixed
9.6250
N
N
N
N
N
N
LARCHMONT RESOURCES BANKDEBT 08/07/2020 /
N/A
LARCHMONT RESOURCES BANKDEBT 08/07/2020 /
51676UAE9
5884140.43
PA
USD
5472250.60
1.4658332594
Long
LON
CORP
US
N
2
2020-08-07
Fixed
9.14
N
N
N
N
N
N
LEE ENTERPRISES INC
N/A
Lee Enterprises, Inc.
523768AF6
5475000
PA
USD
5475000
1.4665697319
Long
DBT
CORP
US
Y
2
2022-03-15
Fixed
9.50
N
N
N
N
N
N
LIONS GATE CAPITAL HOLD
549300MWJHNLR35C0837
Lions Gate Capital Holdings LLC
53627NAC5
5570000
PA
USD
5889606.60
1.5776289995
Long
DBT
CORP
US
Y
2
2024-02-01
Fixed
6.3750
N
N
N
N
N
N
THE MEN'S WEARHOUSE INC
NKFP7BJ6WYEV4I24P532
Men's Wearhouse, Inc.
587118AE0
2167000
PA
USD
2123660
0.5688576213
Long
DBT
CORP
US
N
2
2022-07-01
Fixed
7
N
N
N
N
N
N
2019-10-18
DRIEHAUS MUTUAL FUNDS
/s/ Robert M. Kurinsky
Robert M. Kurinsky
Vice President and Treasurer
XXXX