# EDGAR Filing Document

**Accession Number:** 0000822632
**File Stem:** 0001752724-23-029948
**Filing Date:** 2023-2
**Character Count:** 33469
**Document Hash:** 9d7c7ec45c3b380cf33152ed780bc277
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001752724-23-029948.hdr.sgml**: 20230221

**ACCESSION NUMBER**: 0001752724-23-029948

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 1

**CONFORMED PERIOD OF REPORT**: 20221231

**FILED AS OF DATE**: 20230221

**DATE AS OF CHANGE**: 20230221

**PERIOD START**: 20221231

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** WILLIAM BLAIR FUNDS
- **CENTRAL INDEX KEY:** 0000822632
- **IRS NUMBER:** 000000000
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-05344
- **FILM NUMBER:** 23645617

**BUSINESS ADDRESS:**
- **STREET 1:** 150 NORTH RIVERSIDE PLAZA
- **CITY:** CHICAGO
- **STATE:** IL
- **ZIP:** 60606
- **BUSINESS PHONE:** 3123648000

**MAIL ADDRESS:**
- **STREET 1:** 150 NORTH RIVERSIDE PLAZA
- **CITY:** CHICAGO
- **STATE:** IL
- **ZIP:** 60606

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** WILLIAM BLAIR MUTUAL FUNDS INC
- **DATE OF NAME CHANGE:** 19960112

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** BLAIR WILLIAM READY RESERVES INC
- **DATE OF NAME CHANGE:** 19920316

## Series and Classes Contracts Data

### William Blair Small Cap Growth Fund (Series ID: S000008602)

| Class ID   | Class Name   | Ticker Symbol   |
|:---|:---|:---|
| C000023540 | Class N      | WBSNX           |
| C000023541 | Class I      | WBSIX           |
| C000211720 | Class R6     | WBSRX           |

## Form NPORT-P: Monthly Portfolio Investments Report

### NPORT-P: Part A: General Information

**Item A.1. Information about the Registrant.**

- **a. Name of Registrant:** WILLIAM BLAIR FUNDS

- **b. Investment Company Act file number:** 811-05344

- **c. CIK number of Registrant:** 0000822632

- **d. LEI of Registrant:** SNQR0U5FDV8EZZX4W051

- **e. Address and telephone number of Registrant.**

  - **Street Address 1:** 150 NORTH RIVERSIDE PLAZA

  - **City:** CHICAGO

  - **State:** IL

  - **Foreign country:** US

  - **Zip / Postal Code:** 60606

  - **Telephone number:** 312-364-8000

**Item A.2. Information about the Series.**

- **a. Name of Series:** William Blair Small Cap Growth Fund

- **b. EDGAR series identifier (if any):** S000008602

- **c. LEI of Series:** 5493003FC1N8C1R68G14

**Item A.3. Reporting period.**

- **a. Date of fiscal year-end:** 2022-12-31

- **b. Date as of which information is reported:** 2022-12-31

**Item A.4. Final filing**

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

### Fund Information

**Total Assets:** $529960431.23

**Total Liabilities:** $692938.03

**Net Assets:** $529267493.20

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000023540 | 8.84%                | 4.86%                | -5.00%               |
| Class ID C000023541 | 8.87%                | 4.90%                | -4.98%               |
| Class ID C000211720 | 8.88%                | 4.89%                | -5.00%               |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $774363.79               | $43508957.34                               |
| Month 2  | $-5113836.09             | $31370833.47                               |
| Month 3  | $-2708913.74             | $-24800468.90                              |

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| Revolve Group Inc                   | Revolve Group Inc                   | CUSIP: 76156B107<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    105457 | NS      | $2347472.82   | 0.44%             |  |  |  | No            |                  1 | On Loan: No      |
| Ligand Pharmaceuticals Inc          | Ligand Pharmaceuticals Inc          | CUSIP: 53220K504<br>LEI: 5493008K7TB0IKP37H79 | Long             | EC               | CORP              | US        |     39120 | NS      | $2613216.00   | 0.49%             |  |  |  | No            |                  1 | On Loan: No      |
| Pure Storage Inc                    | Pure Storage Inc                    | CUSIP: 74624M102<br>LEI: 549300NPDB0BZTK3WO90 | Long             | EC               | CORP              | US        |    192336 | NS      | $5146911.36   | 0.97%             |  |  |  | No            |                  1 | On Loan: No      |
| Vertex Inc                          | Vertex Inc                          | CUSIP: 92538J106<br>LEI: 549300QMYW171MP1PL50 | Long             | EC               | CORP              | US        |    370573 | NS      | $5377014.23   | 1.02%             |  |  |  | No            |                  1 | On Loan: No      |
| Skyline Champion Corp               | Skyline Champion Corp               | CUSIP: 830830105<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    104740 | NS      | $5395157.40   | 1.02%             |  |  |  | No            |                  1 | On Loan: No      |
| Ardagh Metal Packaging SA           | Ardagh Metal Packaging SA           | CUSIP: 000000000<br>LEI: 5493009WKQTU4FN9G032 | Long             | EC               | CORP              | LU        |    729560 | NS      | $3509183.60   | 0.66%             |  |  |  | No            |                  1 | On Loan: No      |
| Colliers International Group Inc    | Colliers International Group Inc    | CUSIP: 194693107<br>LEI: D3O8K13PHLEXXD1DT480 | Long             | EC               | CORP              | CA        |     54708 | NS      | $5035324.32   | 0.95%             |  |  |  | No            |                  1 | On Loan: No      |
| Treace Medical Concepts Inc         | Treace Medical Concepts Inc         | CUSIP: 89455T109<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    203170 | NS      | $4670878.30   | 0.88%             |  |  |  | No            |                  1 | On Loan: No      |
| Energy Recovery Inc                 | Energy Recovery Inc                 | CUSIP: 29270J100<br>LEI: 549300ZEQL52Z525WJ22 | Long             | EC               | CORP              | US        |    389836 | NS      | $7987739.64   | 1.51%             |  |  |  | No            |                  1 | On Loan: No      |
| Workiva Inc                         | Workiva Inc                         | CUSIP: 98139A105<br>LEI: 529900RTOQ8GRWHY1O58 | Long             | EC               | CORP              | US        |     55220 | NS      | $4636823.40   | 0.88%             |  |  |  | No            |                  1 | On Loan: No      |
| Luxfer Holdings PLC                 | Luxfer Holdings PLC                 | CUSIP: 000000000<br>LEI: 21380045UF5SJYZOXE41 | Long             | EC               | CORP              | GB        |    450756 | NS      | $6184372.32   | 1.17%             |  |  |  | No            |                  1 | On Loan: No      |
| Axogen Inc                          | Axogen Inc                          | CUSIP: 05463X106<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    409434 | NS      | $4086151.32   | 0.77%             |  |  |  | No            |                  1 | On Loan: No      |
| JFrog Ltd                           | JFrog Ltd                           | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | IL        |    165360 | NS      | $3527128.80   | 0.67%             |  |  |  | No            |                  1 | On Loan: No      |
| Green Plains Inc                    | Green Plains Inc                    | CUSIP: 393222104<br>LEI: VJ5WLTHARBSDR14KIZ98 | Long             | EC               | CORP              | US        |    194142 | NS      | $5921331.00   | 1.12%             |  |  |  | No            |                  1 | On Loan: No      |
| Power Integrations Inc              | Power Integrations Inc              | CUSIP: 739276103<br>LEI: 54930085LGXSCIHD5W31 | Long             | EC               | CORP              | US        |     40510 | NS      | $2905377.20   | 0.55%             |  |  |  | No            |                  1 | On Loan: No      |
| Merit Medical Systems Inc           | Merit Medical Systems Inc           | CUSIP: 589889104<br>LEI: 549300OYTY138SP2CE83 | Long             | EC               | CORP              | US        |    151250 | NS      | $10681275.00  | 2.02%             |  |  |  | No            |                  1 | On Loan: No      |
| OMNIAB INC                          | OMNIAB INC                          | CUSIP: 68218J301<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     23037 | NS      | $0.00         | 0.00%             |  |  |  | No            |                  3 | On Loan: No      |
| Fixed Income Clearing Corp          | FIXED INC CLEARING CORP.REPO        | CUSIP: 000000000<br>LEI: 549300H47WTHXPU08X20 | Long             | RA               | CORP              | US        |  13899016 | PA      | $13899016.20  | 2.63%             |  |  |  | No            |                  2 | On Loan: No      |
| National Vision Holdings Inc        | National Vision Holdings Inc        | CUSIP: 63845R107<br>LEI: 549300JHURCBLI5ROA42 | Long             | EC               | CORP              | US        |    285098 | NS      | $11050398.48  | 2.09%             |  |  |  | No            |                  1 | On Loan: No      |
| QuinStreet Inc                      | QuinStreet Inc                      | CUSIP: 74874Q100<br>LEI: 549300TP8MFBFPOS4Y78 | Long             | EC               | CORP              | US        |    277025 | NS      | $3975308.75   | 0.75%             |  |  |  | No            |                  1 | On Loan: No      |
| Lincoln Electric Holdings Inc       | Lincoln Electric Holdings Inc       | CUSIP: 533900106<br>LEI: BIMGBY40SIN95O01BN93 | Long             | EC               | CORP              | US        |     52820 | NS      | $7631961.80   | 1.44%             |  |  |  | No            |                  1 | On Loan: No      |
| Fox Factory Holding Corp            | Fox Factory Holding Corp            | CUSIP: 35138V102<br>LEI: 529900GE1HSV0617R721 | Long             | EC               | CORP              | US        |     44120 | NS      | $4025067.60   | 0.76%             |  |  |  | No            |                  1 | On Loan: No      |
| PagerDuty Inc                       | PagerDuty Inc                       | CUSIP: 69553P100<br>LEI: 549300U1SB749EDAGH21 | Long             | EC               | CORP              | US        |    170460 | NS      | $4527417.60   | 0.86%             |  |  |  | No            |                  1 | On Loan: No      |
| Wintrust Financial Corp             | Wintrust Financial Corp             | CUSIP: 97650W108<br>LEI: Q774KI4AW80FHFW33O61 | Long             | EC               | CORP              | US        |     64820 | NS      | $5478586.40   | 1.04%             |  |  |  | No            |                  1 | On Loan: No      |
| Halozyme Therapeutics Inc           | Halozyme Therapeutics Inc           | CUSIP: 40637H109<br>LEI: 529900242I3SV9AGM753 | Long             | EC               | CORP              | US        |    127020 | NS      | $7227438.00   | 1.37%             |  |  |  | No            |                  1 | On Loan: No      |
| Cheesecake Factory Inc/The          | Cheesecake Factory Inc/The          | CUSIP: 163072101<br>LEI: 529900872XMLK10SY247 | Long             | EC               | CORP              | US        |    217580 | NS      | $6899461.80   | 1.30%             |  |  |  | No            |                  1 | On Loan: No      |
| Brink's Co/The                      | Brink's Co/The                      | CUSIP: 109696104<br>LEI: XFP140TFNOQMIVFTVQ13 | Long             | EC               | CORP              | US        |    195216 | NS      | $10485051.36  | 1.98%             |  |  |  | No            |                  1 | On Loan: No      |
| Boot Barn Holdings Inc              | Boot Barn Holdings Inc              | CUSIP: 099406100<br>LEI: 529900QE1BFMYA3N4E71 | Long             | EC               | CORP              | US        |     73704 | NS      | $4607974.08   | 0.87%             |  |  |  | No            |                  1 | On Loan: No      |
| Gogo Inc                            | Gogo Inc                            | CUSIP: 38046C109<br>LEI: 549300VL3DIHSFHYTO04 | Long             | EC               | CORP              | US        |    341220 | NS      | $5036407.20   | 0.95%             |  |  |  | No            |                  1 | On Loan: No      |
| Inspire Medical Systems Inc         | Inspire Medical Systems Inc         | CUSIP: 457730109<br>LEI: 549300XQQCQ7HCJKTW25 | Long             | EC               | CORP              | US        |     36910 | NS      | $9296890.80   | 1.76%             |  |  |  | No            |                  1 | On Loan: No      |
| PROS Holdings Inc                   | PROS Holdings Inc                   | CUSIP: 74346Y103<br>LEI: 549300LPE1KNL5RWKQ48 | Long             | EC               | CORP              | US        |    199570 | NS      | $4841568.20   | 0.91%             |  |  |  | No            |                  1 | On Loan: No      |
| ChampionX Corp                      | ChampionX Corp                      | CUSIP: 15872M104<br>LEI: 549300EP2909K6DYYP38 | Long             | EC               | CORP              | US        |    203770 | NS      | $5907292.30   | 1.12%             |  |  |  | No            |                  1 | On Loan: No      |
| WNS Holdings Ltd                    | WNS Holdings Ltd                    | CUSIP: 92932M101<br>LEI: 529900RM7QHUD3W9DM42 | Long             | EC               | CORP              | JE        |    109842 | NS      | $8786261.58   | 1.66%             |  |  |  | No            |                  1 | On Loan: No      |
| Penumbra Inc                        | Penumbra Inc                        | CUSIP: 70975L107<br>LEI: 549300RGE06P3ECANU72 | Long             | EC               | CORP              | US        |     34590 | NS      | $7694891.40   | 1.45%             |  |  |  | No            |                  1 | On Loan: No      |
| Vita Coco Co Inc/The                | Vita Coco Co Inc/The                | CUSIP: 92846Q107<br>LEI: 54930020WXOAWHR85Y25 | Long             | EC               | CORP              | US        |    199843 | NS      | $2761830.26   | 0.52%             |  |  |  | No            |                  1 | On Loan: No      |
| Wingstop Inc                        | Wingstop Inc                        | CUSIP: 974155103<br>LEI: 549300SSH3F8HPIM3Q47 | Long             | EC               | CORP              | US        |     21366 | NS      | $2940388.92   | 0.56%             |  |  |  | No            |                  1 | On Loan: No      |
| Twist Bioscience Corp               | Twist Bioscience Corp               | CUSIP: 90184D100<br>LEI: 549300T23BL59LCOH584 | Long             | EC               | CORP              | US        |    116506 | NS      | $2774007.86   | 0.52%             |  |  |  | No            |                  1 | On Loan: No      |
| American Software Inc/GA            | American Software Inc/GA            | CUSIP: 029683109<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    283900 | NS      | $4167652.00   | 0.79%             |  |  |  | No            |                  1 | On Loan: No      |
| Signet Jewelers Ltd                 | Signet Jewelers Ltd                 | CUSIP: 000000000<br>LEI: 549300N3XPGE91WV7M22 | Long             | EC               | CORP              | BM        |     66920 | NS      | $4550560.00   | 0.86%             |  |  |  | No            |                  1 | On Loan: No      |
| Varonis Systems Inc                 | Varonis Systems Inc                 | CUSIP: 922280102<br>LEI: 549300SHIVNRRH7STS26 | Long             | EC               | CORP              | US        |    236090 | NS      | $5651994.60   | 1.07%             |  |  |  | No            |                  1 | On Loan: No      |
| Golden Entertainment Inc            | Golden Entertainment Inc            | CUSIP: 381013101<br>LEI: 549300P8YYCKQVJ0Y638 | Long             | EC               | CORP              | US        |    115240 | NS      | $4309976.00   | 0.81%             |  |  |  | No            |                  1 | On Loan: No      |
| Kornit Digital Ltd                  | Kornit Digital Ltd                  | CUSIP: 000000000<br>LEI: 5299006DPCQWP3VTFK34 | Long             | EC               | CORP              | IL        |    179160 | NS      | $4115305.20   | 0.78%             |  |  |  | No            |                  1 | On Loan: No      |
| BWX Technologies Inc                | BWX Technologies Inc                | CUSIP: 05605H100<br>LEI: 549300NP85N265KWMS58 | Long             | EC               | CORP              | US        |    209867 | NS      | $12189075.36  | 2.30%             |  |  |  | No            |                  1 | On Loan: No      |
| Globus Medical Inc                  | Globus Medical Inc                  | CUSIP: 379577208<br>LEI: 5299003M2P4CIK0RF205 | Long             | EC               | CORP              | US        |    123040 | NS      | $9138180.80   | 1.73%             |  |  |  | No            |                  1 | On Loan: No      |
| Douglas Dynamics Inc                | Douglas Dynamics Inc                | CUSIP: 25960R105<br>LEI: 529900CDFLKNQ0QT6580 | Long             | EC               | CORP              | US        |    177993 | NS      | $6436226.88   | 1.22%             |  |  |  | No            |                  1 | On Loan: No      |
| Cameco Corp                         | Cameco Corp                         | CUSIP: 13321L108<br>LEI: N4BHALMXL3GMZKCUON55 | Long             | EC               | CORP              | CA        |    342720 | NS      | $7769462.40   | 1.47%             |  |  |  | No            |                  1 | On Loan: No      |
| Winmark Corp                        | Winmark Corp                        | CUSIP: 974250102<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     26110 | NS      | $6157521.30   | 1.16%             |  |  |  | No            |                  1 | On Loan: No      |
| Grand Canyon Education Inc          | Grand Canyon Education Inc          | CUSIP: 38526M106<br>LEI: 529900XFER799IYOSW74 | Long             | EC               | CORP              | US        |     74130 | NS      | $7832575.80   | 1.48%             |  |  |  | No            |                  1 | On Loan: No      |
| Vital Farms Inc                     | Vital Farms Inc                     | CUSIP: 92847W103<br>LEI: 549300S6NYY7ER3XOT61 | Long             | EC               | CORP              | US        |    358330 | NS      | $5346283.60   | 1.01%             |  |  |  | No            |                  1 | On Loan: No      |
| Veracyte Inc                        | Veracyte Inc                        | CUSIP: 92337F107<br>LEI: 529900ESWZRHXOW27Z37 | Long             | EC               | CORP              | US        |    155450 | NS      | $3688828.50   | 0.70%             |  |  |  | No            |                  1 | On Loan: No      |
| Ziff Davis Inc                      | Ziff Davis Inc                      | CUSIP: 48123V102<br>LEI: 5493008OJYGLHD7MXA18 | Long             | EC               | CORP              | US        |     89763 | NS      | $7100253.30   | 1.34%             |  |  |  | No            |                  1 | On Loan: No      |
| Albany International Corp           | Albany International Corp           | CUSIP: 012348108<br>LEI: L73WCPNCZIRSQGZTW097 | Long             | EC               | CORP              | US        |    108035 | NS      | $10651170.65  | 2.01%             |  |  |  | No            |                  1 | On Loan: No      |
| Blueprint Medicines Corp            | Blueprint Medicines Corp            | CUSIP: 09627Y109<br>LEI: 5299004CC60O9T5HVM83 | Long             | EC               | CORP              | US        |     45920 | NS      | $2011755.20   | 0.38%             |  |  |  | No            |                  1 | On Loan: No      |
| Verra Mobility Corp                 | Verra Mobility Corp                 | CUSIP: 92511U102<br>LEI: 549300XX5EKGLR0M4152 | Long             | EC               | CORP              | US        |    748619 | NS      | $10353400.77  | 1.96%             |  |  |  | No            |                  1 | On Loan: No      |
| TechnipFMC PLC                      | TechnipFMC PLC                      | CUSIP: 000000000<br>LEI: 549300D5I93QWCJTCK36 | Long             | EC               | CORP              | GB        |   1141600 | NS      | $13916104.00  | 2.63%             |  |  |  | No            |                  1 | On Loan: No      |
| Ducommun Inc                        | Ducommun Inc                        | CUSIP: 264147109<br>LEI: 549300Z71HMWF90S2214 | Long             | EC               | CORP              | US        |    154642 | NS      | $7725914.32   | 1.46%             |  |  |  | No            |                  1 | On Loan: No      |
| Goosehead Insurance Inc             | Goosehead Insurance Inc             | CUSIP: 38267D109<br>LEI: 549300WH5MBIWHJ9XY95 | Long             | EC               | CORP              | US        |     68520 | NS      | $2352976.80   | 0.44%             |  |  |  | No            |                  1 | On Loan: No      |
| Ambarella Inc                       | Ambarella Inc                       | CUSIP: 000000000<br>LEI: 254900XN7F4DG0CEKC02 | Long             | EC               | CORP              | KY        |     38360 | NS      | $3154342.80   | 0.60%             |  |  |  | No            |                  1 | On Loan: No      |
| Beauty Health Co/The                | Beauty Health Co/The                | CUSIP: 88331L108<br>LEI: 5493001Z2JZQT4C63C50 | Long             | EC               | CORP              | US        |    313640 | NS      | $2854124.00   | 0.54%             |  |  |  | No            |                  1 | On Loan: No      |
| Denbury Inc                         | Denbury Inc                         | CUSIP: 24790A101<br>LEI: 549300KCWA5W52MS5559 | Long             | EC               | CORP              | US        |     50269 | NS      | $4374408.38   | 0.83%             |  |  |  | No            |                  1 | On Loan: No      |
| Allscripts Healthcare Solutions Inc | Allscripts Healthcare Solutions Inc | CUSIP: 01988P108<br>LEI: Y68YJHVB1GU4TAU3C223 | Long             | EC               | CORP              | US        |    309858 | NS      | $5465895.12   | 1.03%             |  |  |  | No            |                  1 | On Loan: No      |
| Novanta Inc                         | Novanta Inc                         | CUSIP: 67000B104<br>LEI: N/A                  | Long             | EC               | CORP              | CA        |     40810 | NS      | $5544854.70   | 1.05%             |  |  |  | No            |                  1 | On Loan: No      |
| Century Aluminum Co                 | Century Aluminum Co                 | CUSIP: 156431108<br>LEI: 549300U5ODNGEYWKSW73 | Long             | EC               | CORP              | US        |    243090 | NS      | $1988476.20   | 0.38%             |  |  |  | No            |                  1 | On Loan: No      |
| ACV Auctions Inc                    | ACV Auctions Inc                    | CUSIP: 00091G104<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    459160 | NS      | $3769703.60   | 0.71%             |  |  |  | No            |                  1 | On Loan: No      |
| ZipRecruiter Inc                    | ZipRecruiter Inc                    | CUSIP: 98980B103<br>LEI: 549300HLOVNNFCY2IV80 | Long             | EC               | CORP              | US        |    294100 | NS      | $4829122.00   | 0.91%             |  |  |  | No            |                  1 | On Loan: No      |
| OMNIAB INC                          | OMNIAB INC                          | CUSIP: 68218J202<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     23037 | NS      | $0.00         | 0.00%             |  |  |  | No            |                  3 | On Loan: No      |
| Euronet Worldwide Inc               | Euronet Worldwide Inc               | CUSIP: 298736109<br>LEI: YG3575C4DSHJPA5KET68 | Long             | EC               | CORP              | US        |     73530 | NS      | $6939761.40   | 1.31%             |  |  |  | No            |                  1 | On Loan: No      |
| Owens & Minor Inc                   | Owens & Minor Inc                   | CUSIP: 690732102<br>LEI: 549300LMT5KQQXCEZ733 | Long             | EC               | CORP              | US        |    216380 | NS      | $4225901.40   | 0.80%             |  |  |  | No            |                  1 | On Loan: No      |
| Insmed Inc                          | Insmed Inc                          | CUSIP: 457669307<br>LEI: 529900Q55QAG41CCAC11 | Long             | EC               | CORP              | US        |    143450 | NS      | $2866131.00   | 0.54%             |  |  |  | No            |                  1 | On Loan: No      |
| Orion Engineered Carbons SA         | Orion Engineered Carbons SA         | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | LU        |    391397 | NS      | $6970780.57   | 1.32%             |  |  |  | No            |                  1 | On Loan: No      |
| PDF Solutions Inc                   | PDF Solutions Inc                   | CUSIP: 693282105<br>LEI: 549300GMSP6MROFBI160 | Long             | EC               | CORP              | US        |    234207 | NS      | $6679583.64   | 1.26%             |  |  |  | No            |                  1 | On Loan: No      |
| Acadia Healthcare Co Inc            | Acadia Healthcare Co Inc            | CUSIP: 00404A109<br>LEI: 5493005CW985Y9D0NC11 | Long             | EC               | CORP              | US        |     65839 | NS      | $5419866.48   | 1.02%             |  |  |  | No            |                  1 | On Loan: No      |
| Vericel Corp                        | Vericel Corp                        | CUSIP: 92346J108<br>LEI: 54930076YM3PLTDR4B91 | Long             | EC               | CORP              | US        |    136250 | NS      | $3588825.00   | 0.68%             |  |  |  | No            |                  1 | On Loan: No      |
| Montrose Environmental Group Inc    | Montrose Environmental Group Inc    | CUSIP: 615111101<br>LEI: 254900ASI8K3LUB8Q958 | Long             | EC               | CORP              | US        |    181298 | NS      | $8047818.22   | 1.52%             |  |  |  | No            |                  1 | On Loan: No      |
| Casella Waste Systems Inc           | Casella Waste Systems Inc           | CUSIP: 147448104<br>LEI: 8EU0XUFVJ48U37IIDH51 | Long             | EC               | CORP              | US        |    144350 | NS      | $11448398.50  | 2.16%             |  |  |  | No            |                  1 | On Loan: No      |
| Azenta Inc                          | Azenta Inc                          | CUSIP: 114340102<br>LEI: 35ZN6X1ANPH25YN32Y17 | Long             | EC               | CORP              | US        |     98345 | NS      | $5725645.90   | 1.08%             |  |  |  | No            |                  1 | On Loan: No      |
| Overstock.com Inc                   | Overstock.com Inc                   | CUSIP: 690370101<br>LEI: 549300ACR0DL9U7EI710 | Long             | EC               | CORP              | US        |    141950 | NS      | $2748152.00   | 0.52%             |  |  |  | No            |                  1 | On Loan: No      |
| OmniAb Inc                          | OmniAb Inc                          | CUSIP: 68218J103<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    699159 | NS      | $2516972.40   | 0.48%             |  |  |  | No            |                  1 | On Loan: No      |
| HealthEquity Inc                    | HealthEquity Inc                    | CUSIP: 42226A107<br>LEI: 529900LRJU1RAFQHM467 | Long             | EC               | CORP              | US        |     68165 | NS      | $4201690.60   | 0.79%             |  |  |  | No            |                  1 | On Loan: No      |
| SiTime Corp                         | SiTime Corp                         | CUSIP: 82982T106<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     27245 | NS      | $2768636.90   | 0.52%             |  |  |  | No            |                  1 | On Loan: No      |
| Certara Inc                         | Certara Inc                         | CUSIP: 15687V109<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    305993 | NS      | $4917307.51   | 0.93%             |  |  |  | No            |                  1 | On Loan: No      |
| Builders FirstSource Inc            | Builders FirstSource Inc            | CUSIP: 12008R107<br>LEI: 549300W0SKP6L3H7DP63 | Long             | EC               | CORP              | US        |     72330 | NS      | $4692770.40   | 0.89%             |  |  |  | No            |                  1 | On Loan: No      |
| Encompass Health Corp               | Encompass Health Corp               | CUSIP: 29261A100<br>LEI: 549300FVRPM9DRQZRG64 | Long             | EC               | CORP              | US        |    141650 | NS      | $8472086.50   | 1.60%             |  |  |  | No            |                  1 | On Loan: No      |
| FirstService Corp                   | FirstService Corp                   | CUSIP: 33767E202<br>LEI: 5493000XUDIV75BCF118 | Long             | EC               | CORP              | CA        |     62877 | NS      | $7705576.35   | 1.46%             |  |  |  | No            |                  1 | On Loan: No      |
| Performance Food Group Co           | Performance Food Group Co           | CUSIP: 71377A103<br>LEI: 549300EUK8GR9IT1YK57 | Long             | EC               | CORP              | US        |    168360 | NS      | $9830540.40   | 1.86%             |  |  |  | No            |                  1 | On Loan: No      |
| Mercury Systems Inc                 | Mercury Systems Inc                 | CUSIP: 589378108<br>LEI: 549300P3B84SGK7HH679 | Long             | EC               | CORP              | US        |    170036 | NS      | $7607410.64   | 1.44%             |  |  |  | No            |                  1 | On Loan: No      |
| Amicus Therapeutics Inc             | Amicus Therapeutics Inc             | CUSIP: 03152W109<br>LEI: 549300MRD1SMUTNBPQ53 | Long             | EC               | CORP              | US        |    585810 | NS      | $7152740.10   | 1.35%             |  |  |  | No            |                  1 | On Loan: No      |
| Chart Industries Inc                | Chart Industries Inc                | CUSIP: 16115Q308<br>LEI: EM7QGKC1GYOF3LSZSL80 | Long             | EC               | CORP              | US        |     45593 | NS      | $5253681.39   | 0.99%             |  |  |  | No            |                  1 | On Loan: No      |
| Whitecap Resources Inc              | Whitecap Resources Inc              | CUSIP: 96467A200<br>LEI: 5493004AMPGZA0JO5Q37 | Long             | EC               | CORP              | CA        |    954040 | NS      | $7584618.00   | 1.43%             |  |  |  | No            |                  1 | On Loan: No      |
| Alarm.com Holdings Inc              | Alarm.com Holdings Inc              | CUSIP: 011642105<br>LEI: 549300HIH92U1EKIHZ32 | Long             | EC               | CORP              | US        |    101740 | NS      | $5034095.20   | 0.95%             |  |  |  | No            |                  1 | On Loan: No      |
| PacWest Bancorp                     | PacWest Bancorp                     | CUSIP: 695263103<br>LEI: 549300YI8VMFO7G36V04 | Long             | EC               | CORP              | US        |    189970 | NS      | $4359811.50   | 0.82%             |  |  |  | No            |                  1 | On Loan: No      |
| Stem Inc                            | Stem Inc                            | CUSIP: 85859N102<br>LEI: 549300GVWIYFILN5V546 | Long             | EC               | CORP              | US        |    337406 | NS      | $3016409.64   | 0.57%             |  |  |  | No            |                  1 | On Loan: No      |

### Signature

**Date Signed:** 2023-01-19

**Name of Applicant:** WILLIAM BLAIR FUNDS

**Signature:** John Raczek

**Name of Signer:** John Raczek

**Title:** Principal Financial Officer