# EDGAR Filing Document

**Accession Number:** 0000822632
**File Stem:** 0001410368-26-013319
**Filing Date:** 2026-2
**Character Count:** 33728
**Document Hash:** 0b53fe3303f4c270cc745a756e4d4165
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001410368-26-013319.hdr.sgml**: 20260218

**ACCESSION NUMBER**: 0001410368-26-013319

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 1

**CONFORMED PERIOD OF REPORT**: 20251231

**FILED AS OF DATE**: 20260218

**DATE AS OF CHANGE**: 20260218

**PERIOD START**: 20251231

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** WILLIAM BLAIR FUNDS
- **CENTRAL INDEX KEY:** 0000822632

**ORGANIZATION NAME:**
- **EIN:** 000000000
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-05344
- **FILM NUMBER:** 26646319

**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:** 2025-12-31

- **b. Date as of which information is reported:** 2025-12-31

**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:** $988575227.72

**Total Liabilities:** $1065261.12

**Net Assets:** $987509966.60

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000023540 | -0.80%               | 3.35%                | 0.38%                |
| Class ID C000023541 | -0.76%               | 3.36%                | 0.43%                |
| Class ID C000211720 | -0.76%               | 3.35%                | 0.42%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $18986954.49             | $-26100241.64                              |
| Month 2  | $-12961105.16            | $45804660.04                               |
| Month 3  | $2921296.88              | $1590897.01                                |

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| ACV Auctions Inc                  | ACV Auctions Inc                  | CUSIP: 00091G104<br>LEI: N/A                  | Long             | EC               | CORP              | US        |   1090400 | NS      | $8745008.00   | 0.89%             |  |  |  | No            |                  1 | On Loan: No      |
| Aehr Test Systems                 | Aehr Test Systems                 | CUSIP: 00760J108<br>LEI: 529900A4GWWZFRU2RE97 | Long             | EC               | CORP              | US        |    166683 | NS      | $3365329.77   | 0.34%             |  |  |  | No            |                  1 | On Loan: No      |
| Agilysys Inc                      | Agilysys Inc                      | CUSIP: 00847J105<br>LEI: 5299001XWB5V3B5IPN93 | Long             | EC               | CORP              | US        |    101530 | NS      | $12065825.20  | 1.22%             |  |  |  | No            |                  1 | On Loan: No      |
| Alignment Healthcare Inc          | Alignment Healthcare Inc          | CUSIP: 01625V104<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    775198 | NS      | $15310160.50  | 1.55%             |  |  |  | No            |                  1 | On Loan: No      |
| Americold Realty Trust Inc        | Americold Realty Trust Inc        | CUSIP: 03064D108<br>LEI: 894500O3S3W62PQPO460 | Long             | EC               |  | US        |    499100 | NS      | $6418426.00   | 0.65%             |  |  |  | No            |                  1 | On Loan: No      |
| Amprius Technologies Inc          | Amprius Technologies Inc          | CUSIP: 03214Q108<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    331200 | NS      | $2613168.00   | 0.26%             |  |  |  | No            |                  1 | On Loan: No      |
| Appfolio Inc                      | Appfolio Inc                      | CUSIP: 03783C100<br>LEI: 529900OOUUGT6JFC0S15 | Long             | EC               | CORP              | US        |     55530 | NS      | $12919054.50  | 1.31%             |  |  |  | No            |                  1 | On Loan: No      |
| Argan Inc                         | Argan Inc                         | CUSIP: 04010E109<br>LEI: 529900E4KZWBV9KGBS83 | Long             | EC               | CORP              | US        |     21360 | NS      | $6692515.20   | 0.68%             |  |  |  | No            |                  1 | On Loan: No      |
| Baldwin Insurance Group Inc/The   | Baldwin Insurance Group Inc/The   | CUSIP: 05589G102<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    496501 | NS      | $11930919.03  | 1.21%             |  |  |  | No            |                  1 | On Loan: No      |
| BKV Corp                          | BKV Corp                          | CUSIP: 05603J108<br>LEI: 549300S3T4Z01TRFU656 | Long             | EC               | CORP              | US        |    372960 | NS      | $10125864.00  | 1.03%             |  |  |  | No            |                  1 | On Loan: No      |
| BWX Technologies Inc              | BWX Technologies Inc              | CUSIP: 05605H100<br>LEI: 549300NP85N265KWMS58 | Long             | EC               | CORP              | US        |     57334 | NS      | $9909608.56   | 1.00%             |  |  |  | No            |                  1 | On Loan: No      |
| Balchem Corp                      | Balchem Corp                      | CUSIP: 057665200<br>LEI: 549300VR70OPMHUI3557 | Long             | EC               | CORP              | US        |    100540 | NS      | $15418814.40  | 1.56%             |  |  |  | No            |                  1 | On Loan: No      |
| Bloom Energy Corp                 | Bloom Energy Corp                 | CUSIP: 093712107<br>LEI: 549300XB5J9BFW5JXV97 | Long             | EC               | CORP              | US        |    120590 | NS      | $10478065.10  | 1.06%             |  |  |  | No            |                  1 | On Loan: No      |
| Brink's Co/The                    | Brink's Co/The                    | CUSIP: 109696104<br>LEI: XFP140TFNOQMIVFTVQ13 | Long             | EC               | CORP              | US        |    161819 | NS      | $18889131.87  | 1.91%             |  |  |  | No            |                  1 | On Loan: No      |
| CECO Environmental Corp           | CECO Environmental Corp           | CUSIP: 125141101<br>LEI: 5493002CZCTL4HGLIY91 | Long             | EC               | CORP              | US        |    237230 | NS      | $14198215.50  | 1.44%             |  |  |  | No            |                  1 | On Loan: No      |
| Cadence Bank                      | Cadence Bank                      | CUSIP: 12740C103<br>LEI: Q7C315HKI8VX0SSKBS64 | Long             | EC               | CORP              | US        |    306230 | NS      | $13118893.20  | 1.33%             |  |  |  | No            |                  1 | On Loan: No      |
| Casella Waste Systems Inc         | Casella Waste Systems Inc         | CUSIP: 147448104<br>LEI: 8EU0XUFVJ48U37IIDH51 | Long             | EC               | CORP              | US        |    108098 | NS      | $10587118.12  | 1.07%             |  |  |  | No            |                  1 | On Loan: No      |
| Clearwater Analytics Holdings Inc | Clearwater Analytics Holdings Inc | CUSIP: 185123106<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    413341 | NS      | $9969784.92   | 1.01%             |  |  |  | No            |                  1 | On Loan: No      |
| Cognex Corp                       | Cognex Corp                       | CUSIP: 192422103<br>LEI: 549300JQTYZCLC43S226 | Long             | EC               | CORP              | US        |    354530 | NS      | $12755989.40  | 1.29%             |  |  |  | No            |                  1 | On Loan: No      |
| Diebold Nixdorf Inc               | Diebold Nixdorf Inc               | CUSIP: 253651202<br>LEI: 549300XZK6EWDBAZSY16 | Long             | EC               | CORP              | US        |    299130 | NS      | $20307935.70  | 2.06%             |  |  |  | No            |                  1 | On Loan: No      |
| Donnelley Financial Solutions Inc | Donnelley Financial Solutions Inc | CUSIP: 25787G100<br>LEI: 549300O1NPY4J56QCU04 | Long             | EC               | CORP              | US        |    174470 | NS      | $8146004.30   | 0.82%             |  |  |  | No            |                  1 | On Loan: No      |
| Doximity Inc                      | Doximity Inc                      | CUSIP: 26622P107<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    283890 | NS      | $12570649.20  | 1.27%             |  |  |  | No            |                  1 | On Loan: No      |
| Esab Corp                         | Esab Corp                         | CUSIP: 29605J106<br>LEI: 549300ZNV0SWBXEIWT04 | Long             | EC               | CORP              | US        |     69000 | NS      | $7708680.00   | 0.78%             |  |  |  | No            |                  1 | On Loan: No      |
| FirstService Corp                 | FirstService Corp                 | CUSIP: 33767E202<br>LEI: 5493000XUDIV75BCF118 | Long             | EC               | CORP              | CA        |     90457 | NS      | $14068777.21  | 1.42%             |  |  |  | No            |                  1 | On Loan: No      |
| Flowserve Corp                    | Flowserve Corp                    | CUSIP: 34354P105<br>LEI: 6Y0GK87T6V7NJKZJVM41 | Long             | EC               | CORP              | US        |    181700 | NS      | $12606346.00  | 1.28%             |  |  |  | No            |                  1 | On Loan: No      |
| Freshpet Inc                      | Freshpet Inc                      | CUSIP: 358039105<br>LEI: 549300S4ZK8ZQ6HNPN59 | Long             | EC               | CORP              | US        |    142060 | NS      | $8655715.80   | 0.88%             |  |  |  | No            |                  1 | On Loan: No      |
| Garrett Motion Inc                | Garrett Motion Inc                | CUSIP: 366505105<br>LEI: 549300LS5WT7EMBNV724 | Long             | EC               | CORP              | US        |    758669 | NS      | $13223600.67  | 1.34%             |  |  |  | No            |                  1 | On Loan: No      |
| Glaukos Corp                      | Glaukos Corp                      | CUSIP: 377322102<br>LEI: 5299004JA1LHE21M6T14 | Long             | EC               | CORP              | US        |     97910 | NS      | $11055018.10  | 1.12%             |  |  |  | No            |                  1 | On Loan: No      |
| Globus Medical Inc                | Globus Medical Inc                | CUSIP: 379577208<br>LEI: 5299003M2P4CIK0RF205 | Long             | EC               | CORP              | US        |    172533 | NS      | $15063856.23  | 1.53%             |  |  |  | No            |                  1 | On Loan: No      |
| Graham Corp                       | Graham Corp                       | CUSIP: 384556106<br>LEI: 254900EI9P4LTY524J77 | Long             | EC               | CORP              | US        |    100210 | NS      | $6436488.30   | 0.65%             |  |  |  | No            |                  1 | On Loan: No      |
| Grand Canyon Education Inc        | Grand Canyon Education Inc        | CUSIP: 38526M106<br>LEI: 529900XFER799IYOSW74 | Long             | EC               | CORP              | US        |     77081 | NS      | $12819341.11  | 1.30%             |  |  |  | No            |                  1 | On Loan: No      |
| Halozyme Therapeutics Inc         | Halozyme Therapeutics Inc         | CUSIP: 40637H109<br>LEI: 529900242I3SV9AGM753 | Long             | EC               | CORP              | US        |    113690 | NS      | $7651337.00   | 0.77%             |  |  |  | No            |                  1 | On Loan: No      |
| Hammond Power Solutions Inc       | Hammond Power Solutions Inc       | CUSIP: 408549103<br>LEI: 549300OLI26OOKEG5V73 | Long             | EC               | CORP              | CA        |     95745 | NS      | $11070036.90  | 1.12%             |  |  |  | No            |                  1 | On Loan: No      |
| Hawkins Inc                       | Hawkins Inc                       | CUSIP: 420261109<br>LEI: 549300VL3IJ23OWX1Y34 | Long             | EC               | CORP              | US        |     45340 | NS      | $6441000.40   | 0.65%             |  |  |  | No            |                  1 | On Loan: No      |
| HealthEquity Inc                  | HealthEquity Inc                  | CUSIP: 42226A107<br>LEI: 529900LRJU1RAFQHM467 | Long             | EC               | CORP              | US        |    107110 | NS      | $9812347.10   | 0.99%             |  |  |  | No            |                  1 | On Loan: No      |
| Helios Technologies Inc           | Helios Technologies Inc           | CUSIP: 42328H109<br>LEI: 5493000BCJSMIDRNTI78 | Long             | EC               | CORP              | US        |    197140 | NS      | $10545018.60  | 1.07%             |  |  |  | No            |                  1 | On Loan: No      |
| Impinj Inc                        | Impinj Inc                        | CUSIP: 453204109<br>LEI: 549300M26VGKSMMWWN17 | Long             | EC               | CORP              | US        |     71300 | NS      | $12406913.00  | 1.26%             |  |  |  | No            |                  1 | On Loan: No      |
| Inspire Medical Systems Inc       | Inspire Medical Systems Inc       | CUSIP: 457730109<br>LEI: 549300XQQCQ7HCJKTW25 | Long             | EC               | CORP              | US        |    116968 | NS      | $10787958.64  | 1.09%             |  |  |  | No            |                  1 | On Loan: No      |
| I3 Verticals Inc                  | I3 Verticals Inc                  | CUSIP: 46571Y107<br>LEI: 549300944CYWVP06CJ97 | Long             | EC               | CORP              | US        |     99175 | NS      | $2498218.25   | 0.25%             |  |  |  | No            |                  1 | On Loan: No      |
| Jefferson Capital Inc             | Jefferson Capital Inc             | CUSIP: 47248R103<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    499067 | NS      | $11149156.78  | 1.13%             |  |  |  | No            |                  1 | On Loan: No      |
| Krystal Biotech Inc               | Krystal Biotech Inc               | CUSIP: 501147102<br>LEI: 549300YONUY68210OE41 | Long             | EC               | CORP              | US        |     54540 | NS      | $13446291.60  | 1.36%             |  |  |  | No            |                  1 | On Loan: No      |
| Lattice Semiconductor Corp        | Lattice Semiconductor Corp        | CUSIP: 518415104<br>LEI: 549300LRBBPZDQ2II567 | Long             | EC               | CORP              | US        |     97910 | NS      | $7204217.80   | 0.73%             |  |  |  | No            |                  1 | On Loan: No      |
| Lumentum Holdings Inc             | Lumentum Holdings Inc             | CUSIP: 55024U109<br>LEI: 549300JLWRRC38DWEF52 | Long             | EC               | CORP              | US        |     46990 | NS      | $17320044.10  | 1.75%             |  |  |  | No            |                  1 | On Loan: No      |
| Madrigal Pharmaceuticals Inc      | Madrigal Pharmaceuticals Inc      | CUSIP: 558868105<br>LEI: 549300CHIMT2EUSNJB60 | Long             | EC               | CORP              | US        |     26288 | NS      | $15308553.92  | 1.55%             |  |  |  | No            |                  1 | On Loan: No      |
| Mercury Systems Inc               | Mercury Systems Inc               | CUSIP: 589378108<br>LEI: 549300P3B84SGK7HH679 | Long             | EC               | CORP              | US        |    204568 | NS      | $14935509.68  | 1.51%             |  |  |  | No            |                  1 | On Loan: No      |
| Merit Medical Systems Inc         | Merit Medical Systems Inc         | CUSIP: 589889104<br>LEI: 549300OYTY138SP2CE83 | Long             | EC               | CORP              | US        |    161000 | NS      | $14190540.00  | 1.44%             |  |  |  | No            |                  1 | On Loan: No      |
| Mirum Pharmaceuticals Inc         | Mirum Pharmaceuticals Inc         | CUSIP: 604749101<br>LEI: 254900YZKR40F7F27K81 | Long             | EC               | CORP              | US        |    113223 | NS      | $8943484.77   | 0.91%             |  |  |  | No            |                  1 | On Loan: No      |
| Modine Manufacturing Co           | Modine Manufacturing Co           | CUSIP: 607828100<br>LEI: Z35SZFYJR8GZZRSIUU09 | Long             | EC               | CORP              | US        |     73600 | NS      | $9826336.00   | 1.00%             |  |  |  | No            |                  1 | On Loan: No      |
| National Vision Holdings Inc      | National Vision Holdings Inc      | CUSIP: 63845R107<br>LEI: 549300JHURCBLI5ROA42 | Long             | EC               | CORP              | US        |    335476 | NS      | $8661990.32   | 0.88%             |  |  |  | No            |                  1 | On Loan: No      |
| Nextpower Inc                     | Nextpower Inc                     | CUSIP: 65290E101<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    116310 | NS      | $10131764.10  | 1.03%             |  |  |  | No            |                  1 | On Loan: No      |
| Novanta Inc                       | Novanta Inc                       | CUSIP: 67000B104<br>LEI: N/A                  | Long             | EC               | CORP              | CA        |    119270 | NS      | $14191937.30  | 1.44%             |  |  |  | No            |                  1 | On Loan: No      |
| OSI Systems Inc                   | OSI Systems Inc                   | CUSIP: 671044105<br>LEI: DDX3MPX1Y8YD30050X33 | Long             | EC               | CORP              | US        |     32530 | NS      | $8297101.80   | 0.84%             |  |  |  | No            |                  1 | On Loan: No      |
| Old National Bancorp/IN           | Old National Bancorp/IN           | CUSIP: 680033107<br>LEI: 549300MMK90CL5KMVX16 | Long             | EC               | CORP              | US        |    699530 | NS      | $15606514.30  | 1.58%             |  |  |  | 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      |
| 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      |
| OneMain Holdings Inc              | OneMain Holdings Inc              | CUSIP: 68268W103<br>LEI: 549300E3VEW8SMS5XW09 | Long             | EC               | CORP              | US        |    147860 | NS      | $9987943.00   | 1.01%             |  |  |  | No            |                  1 | On Loan: No      |
| Onto Innovation Inc               | Onto Innovation Inc               | CUSIP: 683344105<br>LEI: 254900RXZVN73CHOO062 | Long             | EC               | CORP              | US        |     89370 | NS      | $14107948.20  | 1.43%             |  |  |  | No            |                  1 | On Loan: No      |
| PDF Solutions Inc                 | PDF Solutions Inc                 | CUSIP: 693282105<br>LEI: 549300GMSP6MROFBI160 | Long             | EC               | CORP              | US        |    401876 | NS      | $11465522.28  | 1.16%             |  |  |  | No            |                  1 | On Loan: No      |
| Paymentus Holdings Inc            | Paymentus Holdings Inc            | CUSIP: 70439P108<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    171846 | NS      | $5428615.14   | 0.55%             |  |  |  | No            |                  1 | On Loan: No      |
| Penguin Solutions Inc             | Penguin Solutions Inc             | CUSIP: 706915105<br>LEI: 254900DVWIPOY3GJ8E23 | Long             | EC               | CORP              | US        |    314110 | NS      | $6143991.60   | 0.62%             |  |  |  | No            |                  1 | On Loan: No      |
| Perella Weinberg Partners         | Perella Weinberg Partners         | CUSIP: 71367G102<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    500515 | NS      | $8658909.50   | 0.88%             |  |  |  | No            |                  1 | On Loan: No      |
| Planet Fitness Inc                | Planet Fitness Inc                | CUSIP: 72703H101<br>LEI: 549300LLE5HUPF6H8G33 | Long             | EC               | CORP              | US        |     92990 | NS      | $10086625.30  | 1.02%             |  |  |  | No            |                  1 | On Loan: No      |
| Primo Brands Corp                 | Primo Brands Corp                 | CUSIP: 741623102<br>LEI: 254900J0WS4AXV2LAX55 | Long             | EC               | CORP              | US        |    757030 | NS      | $12377440.50  | 1.25%             |  |  |  | No            |                  1 | On Loan: No      |
| PROCEPT BioRobotics Corp          | PROCEPT BioRobotics Corp          | CUSIP: 74276L105<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    139970 | NS      | $4403456.20   | 0.45%             |  |  |  | No            |                  1 | On Loan: No      |
| Quaker Chemical Corp              | Quaker Chemical Corp              | CUSIP: 747316107<br>LEI: 549300PJQ1R3WCWCPS54 | Long             | EC               | CORP              | US        |     78987 | NS      | $10845704.97  | 1.10%             |  |  |  | No            |                  1 | On Loan: No      |
| Q2 Holdings Inc                   | Q2 Holdings Inc                   | CUSIP: 74736L109<br>LEI: 549300M9RKR9DZXWS696 | Long             | EC               | CORP              | US        |    195170 | NS      | $14083467.20  | 1.43%             |  |  |  | No            |                  1 | On Loan: No      |
| Quanterix Corp                    | Quanterix Corp                    | CUSIP: 74766Q101<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    687176 | NS      | $4370439.36   | 0.44%             |  |  |  | No            |                  1 | On Loan: No      |
| Rambus Inc                        | Rambus Inc                        | CUSIP: 750917106<br>LEI: 2549000211GDCQSLV833 | Long             | EC               | CORP              | US        |    106460 | NS      | $9782609.40   | 0.99%             |  |  |  | No            |                  1 | On Loan: No      |
| Regal Rexnord Corp                | Regal Rexnord Corp                | CUSIP: 758750103<br>LEI: QH78R09VCJGQKPBPYU33 | Long             | EC               | CORP              | US        |     71090 | NS      | $9975348.80   | 1.01%             |  |  |  | No            |                  1 | On Loan: No      |
| Revolve Group Inc                 | Revolve Group Inc                 | CUSIP: 76156B107<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    336027 | NS      | $10144655.13  | 1.03%             |  |  |  | No            |                  1 | On Loan: No      |
| Rush Street Interactive Inc       | Rush Street Interactive Inc       | CUSIP: 782011100<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    795800 | NS      | $15462394.00  | 1.57%             |  |  |  | No            |                  1 | On Loan: No      |
| GeneDx Holdings Corp              | GeneDx Holdings Corp              | CUSIP: 81663L200<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     59275 | NS      | $7709306.50   | 0.78%             |  |  |  | No            |                  1 | On Loan: No      |
| Simply Good Foods Co/The          | Simply Good Foods Co/The          | CUSIP: 82900L102<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    428130 | NS      | $8596850.40   | 0.87%             |  |  |  | No            |                  1 | On Loan: No      |
| Champion Homes Inc                | Champion Homes Inc                | CUSIP: 830830105<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    191029 | NS      | $16141950.50  | 1.63%             |  |  |  | No            |                  1 | On Loan: No      |
| Fixed Income Clearing Corp        | FIXED INC CLEARING CORP.REPO      | CUSIP: 000000000<br>LEI: 549300H47WTHXPU08X20 | Long             | RA               | CORP              | US        |  14171610 | PA      | $14171609.94  | 1.44%             |  |  |  | No            |                  2 | On Loan: No      |
| StepStone Group Inc               | StepStone Group Inc               | CUSIP: 85914M107<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    225369 | NS      | $14461928.73  | 1.46%             |  |  |  | No            |                  1 | On Loan: No      |
| Sterling Infrastructure Inc       | Sterling Infrastructure Inc       | CUSIP: 859241101<br>LEI: 549300RZIK6K1215XU51 | Long             | EC               | CORP              | US        |     13800 | NS      | $4225974.00   | 0.43%             |  |  |  | No            |                  1 | On Loan: No      |
| Treace Medical Concepts Inc       | Treace Medical Concepts Inc       | CUSIP: 89455T109<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    439781 | NS      | $1077463.45   | 0.11%             |  |  |  | No            |                  1 | On Loan: No      |
| Twist Bioscience Corp             | Twist Bioscience Corp             | CUSIP: 90184D100<br>LEI: 549300T23BL59LCOH584 | Long             | EC               | CORP              | US        |    526304 | NS      | $16694362.88  | 1.69%             |  |  |  | No            |                  1 | On Loan: No      |
| US Physical Therapy Inc           | US Physical Therapy Inc           | CUSIP: 90337L108<br>LEI: 529900KL1UXQYFIOMY96 | Long             | EC               | CORP              | US        |    124662 | NS      | $9734855.58   | 0.99%             |  |  |  | No            |                  1 | On Loan: No      |
| United States Lime & Minerals Inc | United States Lime & Minerals Inc | CUSIP: 911922102<br>LEI: 549300VGDEEG8RT7VC89 | Long             | EC               | CORP              | US        |     96145 | NS      | $11512402.30  | 1.17%             |  |  |  | No            |                  1 | On Loan: No      |
| Veracyte Inc                      | Veracyte Inc                      | CUSIP: 92337F107<br>LEI: 529900ESWZRHXOW27Z37 | Long             | EC               | CORP              | US        |    265613 | NS      | $11182307.30  | 1.13%             |  |  |  | No            |                  1 | On Loan: No      |
| Vericel Corp                      | Vericel Corp                      | CUSIP: 92346J108<br>LEI: 54930076YM3PLTDR4B91 | Long             | EC               | CORP              | US        |    401814 | NS      | $14469322.14  | 1.47%             |  |  |  | No            |                  1 | On Loan: No      |
| Verra Mobility Corp               | Verra Mobility Corp               | CUSIP: 92511U102<br>LEI: 549300XX5EKGLR0M4152 | Long             | EC               | CORP              | US        |    507449 | NS      | $11371932.09  | 1.15%             |  |  |  | No            |                  1 | On Loan: No      |
| Vertex Inc                        | Vertex Inc                        | CUSIP: 92538J106<br>LEI: 549300QMYW171MP1PL50 | Long             | EC               | CORP              | US        |    409070 | NS      | $8169127.90   | 0.83%             |  |  |  | No            |                  1 | On Loan: No      |
| Vital Farms Inc                   | Vital Farms Inc                   | CUSIP: 92847W103<br>LEI: 549300S6NYY7ER3XOT61 | Long             | EC               | CORP              | US        |    230939 | NS      | $7376191.66   | 0.75%             |  |  |  | No            |                  1 | On Loan: No      |
| Waystar Holding Corp              | Waystar Holding Corp              | CUSIP: 946784105<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    287537 | NS      | $9416836.75   | 0.95%             |  |  |  | No            |                  1 | On Loan: No      |
| Western Alliance Bancorp          | Western Alliance Bancorp          | CUSIP: 957638109<br>LEI: 5493003VJXZ5JXT9S762 | Long             | EC               | CORP              | US        |    143455 | NS      | $12060261.85  | 1.22%             |  |  |  | No            |                  1 | On Loan: No      |
| Winmark Corp                      | Winmark Corp                      | CUSIP: 974250102<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     17419 | NS      | $7053649.86   | 0.71%             |  |  |  | No            |                  1 | On Loan: No      |
| Zeta Global Holdings Corp         | Zeta Global Holdings Corp         | CUSIP: 98956A105<br>LEI: 2549008P9XSJQHGQ9S27 | Long             | EC               | CORP              | US        |    510270 | NS      | $10383994.50  | 1.05%             |  |  |  | No            |                  1 | On Loan: No      |
| Establishment Labs Holdings Inc   | Establishment Labs Holdings Inc   | CUSIP: 000000000<br>LEI: 549300BCBQ714JNJ7V58 | Long             | EC               | CORP              | VG        |    227340 | NS      | $16568539.20  | 1.68%             |  |  |  | No            |                  1 | On Loan: No      |
| Weatherford International PLC     | Weatherford International PLC     | CUSIP: 000000000<br>LEI: 529900LPBDSCQDJKHQ39 | Long             | EC               | CORP              | IE        |    119600 | NS      | $9359896.00   | 0.95%             |  |  |  | No            |                  1 | On Loan: No      |
| Marex Group PLC                   | Marex Group PLC                   | CUSIP: 000000000<br>LEI: 549300DWX0SVICJAL507 | Long             | EC               | CORP              | GB        |    326600 | NS      | $12528376.00  | 1.27%             |  |  |  | No            |                  1 | On Loan: No      |
| Tecnoglass Inc                    | Tecnoglass Inc                    | CUSIP: 000000000<br>LEI: 529900YRWTPOC2E6IO67 | Long             | EC               | CORP              | KY        |    106689 | NS      | $5368590.48   | 0.54%             |  |  |  | No            |                  1 | On Loan: No      |

### Signature

**Date Signed:** 2026-01-15

**Name of Applicant:** WILLIAM BLAIR FUNDS

**Signature:** John Raczek

**Name of Signer:** John Raczek

**Title:** Principal Financial Officer