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
2019-12-31
N
250989010.530000000000
8234506.670000000000
242754503.860000000000
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
51215523.420000000000
USD
N
AK STEEL CORP
O05HJM8THRTZG4688Q91
AK Steel Corp.
001546AS9
3150000
PA
USD
3178596.02
1.3093870431
Long
DBT
CORP
US
N
2
2021-10-01
Fixed
7.6250
N
N
N
N
N
N
ACRISURE LLC / FIN INC
N/A
Acrisure LLC / Acrisure Finance, Inc.
00489LAC7
2818000
PA
USD
3058851.08
1.2600594557
Long
DBT
CORP
US
Y
2
2024-02-15
Fixed
8.1250
N
N
N
N
N
N
ARCHROCK PARTNERS LP/FIN
N/A
Archrock Partners LP / Archrock Partners Finance Corp.
03959KAA8
2000000
PA
USD
2118580
0.8727253115
Long
DBT
CORP
US
Y
2
2027-04-01
Fixed
6.8750
N
N
N
N
N
N
ARCHROCK PARTNERS LP/FIN
N/A
Archrock Partners LP / Archrock Partners Finance Corp.
03959KAC4
250000
PA
USD
257672.50
0.1061453015
Long
DBT
CORP
US
Y
2
2028-04-01
Fixed
6.25
N
N
N
N
N
N
ARDAGH PKG FIN/HLDGS USA
N/A
Ardagh Packaging Finance PLC / Ardagh Holdings USA, Inc.
03969AAL4
2060000
PA
USD
2160267.20
0.8898978868
Long
DBT
CORP
XX
Y
2
2025-02-15
Fixed
6
N
N
N
N
N
N
AVON INTERNATIONAL OPERA
549300TLB866S6OTS133
Avon International Operations, Inc.
05409QAA6
4136000
PA
USD
4311332.07
1.7760049768
Long
DBT
CORP
US
Y
2
2022-08-15
Fixed
7.8750
N
N
N
N
N
N
AVON PRODUCTS INC
5493007RY69UEB1F1B45
Avon Products, Inc.
054303AZ5
2250000
PA
USD
2874375
1.1840665999
Long
DBT
CORP
US
N
2
2043-03-15
Fixed
8.95
N
N
N
N
N
N
BLACKBOARD INC
549300ONVS6PJZ5LRX23
Blackboard, Inc.
091935AE6
-500000
PA
USD
-498750
-0.2054544785
Short
DBT
CORP
US
Y
2
2024-11-15
Fixed
10.3750
N
N
N
N
N
N
BOMBARDIER INC
W7L3VLU8EHQY34Z36697
Bombardier, Inc.
097751BP5
2500000
PA
USD
2742187.50
1.1296134393
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
2750000
PA
USD
2715515
1.1186260015
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
3160000
PA
USD
3305017.77
1.3614650676
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
2868000
PA
USD
3131497.50
1.2899853351
Long
DBT
CORP
US
Y
2
2026-05-01
Fixed
8
N
N
N
N
N
N
CONSOLIDATED COMMUNICATI
549300WW675Y48HDVX34
Consolidated Communications, Inc.
20903XAE3
8451000
PA
USD
7711537.50
3.1766815352
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
2000000
PA
USD
2090247.20
0.8610539318
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
2572440
1.0596878571
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
-2050617.60
-0.8447289617
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
3098000
PA
USD
3174288.25
1.3076125054
Long
DBT
CORP
US
N
2
2024-10-15
Fixed
8.25
N
N
N
N
N
N
EIG INVESTORS CORP
549300AWVC7LBOKRMB96
EIG Investors Corp.
26854XAB5
7560000
PA
USD
7560590.44
3.1145005838
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.
29413XAD9
1000000
PA
USD
1069453.80
0.4405495194
Long
DBT
CORP
US
Y
2
2026-01-15
Fixed
6.50
N
N
N
N
N
N
ARCHROCK PARTNERS LP/FIN
N/A
Archrock Partners LP / Archrock Partners Finance Corp.
30227CAD9
1260000
PA
USD
1270741.50
0.5234677338
Long
DBT
CORP
US
N
2
2022-10-01
Fixed
6
N
N
N
N
N
N
FORTRESS TRANS & INFRAST
529900E7PUVK6BC8PE80
Fortress Transportation & Infrastructure Investors LLC
34960PAA9
5320000
PA
USD
5559400
2.2901325873
Long
DBT
CORP
US
Y
2
2022-03-15
Fixed
6.75
N
N
N
N
N
N
GCI LLC
549300N3IE9H88Q20221
GCI LLC
36155WAK2
3500000
PA
USD
3665781.35
1.5100775853
Long
DBT
CORP
US
N
2
2025-04-15
Fixed
6.8750
N
N
N
N
N
N
GMAC CAPITAL TRUST I
N/A
GMAC Capital Trust I
361860208
301161
NS
USD
7845244.05
3.2317604515
Long
EP
CORP
US
N
1
N
N
N
GENERAL MTRS Corp. DEB Sr. CV 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
GOGO INTERMEDIATE/FINANC
N/A
Gogo Intermediate Holdings LLC / Gogo Finance Co., Inc.
38046XAE3
3500000
PA
USD
3707867.10
1.5274143388
Long
DBT
CORP
US
Y
2
2024-05-01
Fixed
9.8750
N
N
N
N
N
N
HLF FIN SARL LLC/HERBALI
N/A
HLF Financing Sarl LLC / Herbalife International, Inc.
40390DAA3
3995000
PA
USD
4234700
1.7444372535
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
872000
PA
USD
824040
0.3394540521
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
-2440000
PA
USD
-2506718.87
-1.0326147734
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
1906000
PA
USD
1510505
0.6222356232
Long
SN
CORP
US
Y
2
2065-12-21
Variable
3.90
N
N
N
N
N
N
IHEARTCOMMUNICATIONS INC
54930076J6KDZL504O62
iHeartCommunications, Inc.
45174HBD8
1200000
PA
USD
1327128
0.5466955212
Long
DBT
CORP
US
N
2
2027-05-01
Fixed
8.3750
N
N
N
N
N
N
JPMORGAN CHASE & CO
8I5DZWZKVSZI1NUHU748
JPMorgan Chase & Co.
46625HHA1
3915000
PA
USD
3941036.32
1.6234657884
Long
EP
CORP
US
N
2
2049-12-29
Variable
5.4055
N
N
N
N
N
N
LCPR SR SECURED FIN DAC
549300LE5FM8IKMXSP90
LCPR Senior Secured Financing DAC
50201DAA1
2750000
PA
USD
2923171.35
1.2041677100
Long
DBT
CORP
IE
Y
2
2027-10-15
Fixed
6.75
N
N
N
N
N
N
LSB INDUSTRIES
5493001H215A0HG0MI71
LSB Industries, Inc.
502160AM6
3000000
PA
USD
3095989.50
1.2753582120
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
5457540.25
2.2481726037
Long
LON
CORP
US
N
2
2020-08-07
Fixed
8.89
N
N
N
N
N
N
LEE ENTERPRISES INC
N/A
Lee Enterprises, Inc.
523768AF6
2975000
PA
USD
2787575
1.1483103117
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
4070000
PA
USD
4220929.03
1.7387644566
Long
DBT
CORP
US
Y
2
2024-02-01
Fixed
6.3750
N
N
N
N
N
N
MOUNTAIN PROVINCE DIAMON
549300Y5548SJTH51N28
Mountain Province Diamonds, Inc.
62426EAA3
1894000
PA
USD
1828724.62
0.7533226329
Long
DBT
CORP
CA
Y
2
2022-12-15
Fixed
8
N
N
N
N
N
N
NCR CORP
549300YKTY8JX1DV2R67
NCR Corp.
62886EAS7
3125000
PA
USD
3205100.31
1.3203051886
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
3309000
PA
USD
3325803.43
1.3700274875
Long
DBT
CORP
US
Y
2
2022-04-15
Fixed
5
N
N
N
N
N
N
PETSMART INC
N/A
PetSmart, Inc.
716768AC0
3250000
PA
USD
3320011.50
1.3676415668
Long
DBT
CORP
US
Y
2
2025-06-01
Fixed
5.8750
N
N
N
N
N
N
Fossil Group, Inc.
DDMY8YZ6L8UEMS1FDM73
Fossil Group, Inc.
999999999
905
NC
USD
76925
0.0316883925
N/A
DE
CORP
US
N
1
Credit Suisse
N/A
Put
Purchased
FOSSIL GROUP INC
FOSSIL GROUP INC
100
7.000000000000
USD
2020-03-20
XXXX
-27863.86
N
N
N
TRANSDIGM INC
88Q84GB3X55CF5OC7582
TransDigm, Inc.
893647BJ5
3000000
PA
USD
3035565
1.2504670157
Long
DBT
CORP
US
Y
2
2027-11-15
Fixed
5.50
N
N
N
N
N
N
TRANSOCEAN PONTUS LTD
N/A
Transocean Pontus Ltd.
89382PAA3
4227500
PA
USD
4346398.44
1.7904501753
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
6335000
PA
USD
5471856.25
2.2540699196
Long
EP
CORP
US
Y
2
2162-01-15
Variable
3.147880
N
N
N
N
N
N
UBER TECHNOLOGIES INC
549300B2FTG34FILDR98
Uber Technologies, Inc.
90353TAA8
4000000
PA
USD
4181666.80
1.7225908206
Long
DBT
CORP
US
Y
2
2023-11-01
Fixed
7.50
N
N
N
N
N
N
VECTOR GROUP LTD
549300TUIF4WWN6NDN50
Vector Group Ltd.
92240MBF4
4560000
PA
USD
4486132.10
1.8480118921
Long
DBT
CORP
US
Y
2
2025-02-01
Fixed
6.1250
N
N
N
N
N
N
ILFC E-CAPITAL TRUST I
N/A
ILFC E-Capital Trust I
EF2140525
1750000
PA
USD
1386875
0.5713076289
Long
SN
NUSS
US
N
2
2065-12-21
Variable
3.90
N
N
N
N
N
N
ASURION LLC
549300KNQVXGIOXWK278
Asurion LLC
04649VAU4
6628049.16
PA
USD
6724984.38
2.7702820228
Long
LON
CORP
US
N
2
2025-08-04
Floating
8.299380
N
N
N
N
N
N
MCAFEE LLC
549300713UKUTLV9T378
McAfee LLC
BL2516963
4963636.36
PA
USD
5008309.09
2.0631168569
Long
LON
CORP
US
N
2
2025-09-28
Floating
10.304750
N
N
N
N
N
N
ACRISURE LLC
549300R0Z1Q47XRTGO22
Acrisure LLC
00488PAJ4
2246697.63
PA
USD
2256526.93
0.9295510049
Long
LON
CORP
US
N
2
2023-11-22
Floating
6.194630
N
N
N
N
N
N
HOYA MIDCO LLC
549300LK73TSUP0YKH27
Hoya Midco LLC
44325HAB4
345673.60
PA
USD
344952.87
0.1420994727
Long
LON
CORP
US
N
2
2024-06-30
Floating
5.299380
N
N
N
N
N
N
HEARTLAND DENTAL LLC
5493008FRC0GRKBN1075
Heartland Dental LLC
BL2679316
298068.45
PA
USD
297446.98
0.1225299532
Long
LON
CORP
US
N
2
2025-04-30
Floating
5.451630
N
N
N
N
N
N
HEARTLAND DENTAL LLC
5493008FRC0GRKBN1075
Heartland Dental LLC
42236WAJ6
6721.31
PA
USD
6707.30
0.0027629971
Long
LON
CORP
US
N
2
2025-04-30
Floating
6.272380
N
N
N
N
N
N
MCAFEE LLC
549300713UKUTLV9T378
McAfee LLC
57906PAG4
812661.34
PA
USD
817232.56
0.3366498034
Long
LON
CORP
US
N
2
2024-09-29
Floating
5.554750
N
N
N
N
N
N
TIVITY HEALTH INC
U5UKZMHGMOP0CPFG4B24
Tivity Health, Inc.
88870TAG3
4433734.95
PA
USD
4445927.72
1.8314501479
Long
LON
CORP
US
N
2
2026-03-08
Floating
7.049380
N
N
N
N
N
N
IHEARTCOMMUNICATIONS INC
54930076J6KDZL504O62
iHeartCommunications, Inc.
BL2985184
3841090.67
PA
USD
3878694.95
1.5977849590
Long
LON
CORP
US
N
2
2026-05-01
Floating
5.691130
N
N
N
N
N
N
CERENCE INC
5493002WL2W5WMS89568
Cerence, Inc.
15672UAC2
5000000
PA
USD
4775000
1.9670077894
Long
LON
CORP
US
N
2
2024-10-01
Floating
7.781380
N
N
N
N
N
N
BELLUS Health Inc
549300QZYQDSMOXCP667
Fossil Group, Inc.
BL3168970
5850000
PA
USD
5606230.50
2.3094238874
Long
EC
CORP
US
N
1
2024-09-26
Floating
8.201630
N
N
N
N
N
N
BELLRING BRANDS LLC
5493001E28R2L3L44631
Bellring Brands LLC
07982EAB2
4000000
PA
USD
4052520
1.6693902422
Long
LON
CORP
US
N
2
2024-10-21
Floating
6.701630
N
N
N
N
N
N
BLACKBOARD INC
549300ONVS6PJZ5LRX23
Blackboard, Inc.
09227CAT8
2500000
PA
USD
2464850
1.0153673612
Long
LON
CORP
US
N
2
2024-06-30
Floating
7.9083
N
N
N
N
N
N
Clear Channel Outdoor Holdings
N/A
Consolidated Communications Holdings, Inc.
209034107
91265
NS
USD
354108.20
0.1458709084
Long
EC
CORP
US
N
1
N
N
N
Compass Diversified Holdings
5299001SM1LBYANJRR58
Compass Diversified Holdings
20451Q104
-15000
NS
USD
-372900
-0.1536119800
Short
CORP
US
N
1
N
N
N
5YR T-NOTE FUT MAR20 INDEX MARCH 20 /
N/A
5YR T-NOTE FUT MAR20 INDEX MARCH 20 /
999999999
-77
NC
USD
33505.02
0.0138020179
N/A
DIR
CORP
US
N
1
Goldman Sachs
N/A
Short
5YR T-NOTE FUT MAR20 INDEX MARCH 20 /
5YR T-NOTE FUT MAR20 INDEX MARCH 20 /
2020-03-31
-9166426.89
USD
33505.02
N
N
N
Herbalife Nutrition Ltd
549300BA7TYPBSZZIA41
Herbalife Nutrition Ltd.
G4412G101
-8000
NS
USD
-381360
-0.1570969823
Short
EC
CORP
US
N
1
N
N
N
SPDR S&P Regional Banking ETF
549300EFWJBKUN6WJX52
Kearny Financial Corp.
48716P108
43451
NS
USD
600927.33
0.2475452856
Long
CORP
US
N
1
N
N
N
LARCHMONT RESOURCES LLC /
N/A
LARCHMONT RESOURCES LLC /
51699U9F1
7824
NS
USD
1173600
0.4834513804
Long
EC
CORP
US
N
3
N
N
N
10YR T-Note Fut INDEX MARCH 2020 /
N/A
10YR T-Note Fut INDEX MARCH 2020 /
999999999
-47
NC
USD
53865.20
0.0221891661
N/A
DIR
CORP
US
N
1
Goldman Sachs
N/A
Short
10YR T-Note Fut INDEX MARCH 2020 /
10YR T-Note Fut INDEX MARCH 2020 /
2020-03-20
-6089693.32
USD
53865.20
N
N
N
U.S. LONG BOND FUT INDEX MARCH 2020 /
N/A
U.S. LONG BOND FUT INDEX MARCH 2020 /
999999999
-10
NC
USD
33648.18
0.0138609910
N/A
DIR
CORP
US
N
1
Goldman Sachs
N/A
Short
U.S. LONG BOND FUT INDEX MARCH 2020 /
U.S. LONG BOND FUT INDEX MARCH 2020 /
2020-03-20
-1592710.68
USD
33648.18
N
N
N
Trevi Therapeutics Inc
N/A
Vector Group Ltd.
92240M108
-28500
NS
USD
-381615
-0.1572020267
Short
EC
CORP
US
N
1
N
N
N
2020-01-22
DRIEHAUS MUTUAL FUNDS
/s/ Robert M. Kurinsky
Robert M. Kurinsky
Vice President and Treasurer