# EDGAR Filing Document

**Accession Number:** 0000822632
**File Stem:** 0001410368-26-013309
**Filing Date:** 2026-2
**Character Count:** 65383
**Document Hash:** 0dd152af9b09ce0b851e06cb5fe0fe7c
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001410368-26-013309.hdr.sgml**: 20260218

**ACCESSION NUMBER**: 0001410368-26-013309

**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:** 26646309

**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 Institutional International Growth Fund (Series ID: S000008605)

| Class ID   | Class Name          | Ticker Symbol   |
|:---|:---|:---|
| C000023546 | Institutional Class | WBIIX           |

## 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 Institutional International Growth Fund

- **b. EDGAR series identifier (if any):** S000008605

- **c. LEI of Series:** ZFUC7FQ8P4Z2TL4PXN85

**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:** $837776497.94

**Total Liabilities:** $3256692.39

**Net Assets:** $834519805.55

**Cash Not Reported:** $76942.21

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000023546 | 1.70%                | -2.17%               | 2.44%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $17086629.41             | $-561311.97                                |
| Month 2  | $6238765.75              | $-28069702.57                              |
| Month 3  | $36739350.99             | $-15976929.26                              |

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| Antofagasta PLC                                        | Antofagasta PLC                                        | CUSIP: 000000000<br>LEI: 213800MY6QVH4FVLD628 | Long             | EC               | CORP              | GB        |     96956 | NS      | $4285387.06   | 0.51%             |  |  |  | No            |                  1 | On Loan: No      |
| Diploma PLC                                            | Diploma PLC                                            | CUSIP: 000000000<br>LEI: 2138008OGI7VYG8FGR19 | Long             | EC               | CORP              | GB        |     84961 | NS      | $6064004.67   | 0.73%             |  |  |  | No            |                  1 | On Loan: No      |
| BAE Systems PLC                                        | BAE Systems PLC                                        | CUSIP: 000000000<br>LEI: 8SVCSVKSGDWMW2QHOH83 | Long             | EC               | CORP              | GB        |    341094 | NS      | $7880592.02   | 0.94%             |  |  |  | No            |                  1 | On Loan: No      |
| Argenx SE                                              | Argenx SE                                              | CUSIP: 04016X101<br>LEI: 7245009C5FZE6G9ODQ71 | Long             | EC               | CORP              | NL        |      7938 | NS      | $6675461.10   | 0.80%             |  |  |  | No            |                  1 | On Loan: No      |
| Halma PLC                                              | Halma PLC                                              | CUSIP: 000000000<br>LEI: 2138007FRGLUR9KGBT40 | Long             | EC               | CORP              | GB        |    165777 | NS      | $7905986.19   | 0.95%             |  |  |  | No            |                  1 | On Loan: No      |
| Hill & Smith PLC                                       | Hill & Smith PLC                                       | CUSIP: 000000000<br>LEI: 2138003A3ISGQZBOWI83 | Long             | EC               | CORP              | GB        |     37198 | NS      | $1073018.75   | 0.13%             |  |  |  | No            |                  1 | On Loan: No      |
| Weir Group PLC/The                                     | Weir Group PLC/The                                     | CUSIP: 000000000<br>LEI: 549300KDR56WHY9I3D10 | Long             | EC               | CORP              | GB        |     70140 | NS      | $2690757.78   | 0.32%             |  |  |  | No            |                  1 | On Loan: No      |
| AstraZeneca PLC                                        | AstraZeneca PLC                                        | CUSIP: 000000000<br>LEI: PY6ZZQWO2IZFZC3IOL08 | Long             | EC               | CORP              | GB        |     81978 | NS      | $15238265.35  | 1.83%             |  |  |  | No            |                  1 | On Loan: No      |
| BOYD GROUP INC                                         | BOYD GROUP INC                                         | CUSIP: 103310108<br>LEI: 549300FVHMLW88VSTP09 | Long             | EC               | CORP              | CA        |      6204 | NS      | $988219.39    | 0.12%             |  |  |  | No            |                  1 | On Loan: No      |
| Arca Continental SAB de CV                             | Arca Continental SAB de CV                             | CUSIP: 000000000<br>LEI: 254900U2BSJCQHJCXN24 | Long             | EC               | CORP              | MX        |    105800 | NS      | $1142751.63   | 0.14%             |  |  |  | No            |                  1 | On Loan: No      |
| BT Group PLC                                           | BT Group PLC                                           | CUSIP: 000000000<br>LEI: 213800LRO7NS5CYQMN21 | Long             | EC               | CORP              | GB        |   1436669 | NS      | $3564236.30   | 0.43%             |  |  |  | No            |                  1 | On Loan: No      |
| Barclays PLC                                           | Barclays PLC                                           | CUSIP: 000000000<br>LEI: 213800LBQA1Y9L22JB70 | Long             | EC               | CORP              | GB        |   1182705 | NS      | $7587727.25   | 0.91%             |  |  |  | No            |                  1 | On Loan: No      |
| Garrett Motion Inc                                     | Garrett Motion Inc                                     | CUSIP: 366505105<br>LEI: 549300LS5WT7EMBNV724 | Long             | EC               | CORP              | US        |    155516 | NS      | $2710643.88   | 0.32%             |  |  |  | No            |                  1 | On Loan: No      |
| Grupo Aeroportuario del Sureste SAB de CV              | Grupo Aeroportuario del Sureste SAB de CV              | CUSIP: 40051E202<br>LEI: 5299001W7JIDXCUOUC82 | Long             | EC               | CORP              | MX        |      4956 | NS      | $1602770.40   | 0.19%             |  |  |  | No            |                  1 | On Loan: No      |
| Airbus SE                                              | Airbus SE                                              | CUSIP: 000000000<br>LEI: MINO79WLOO247M1IL051 | Long             | EC               | CORP              | NL        |     26302 | NS      | $6132565.85   | 0.73%             |  |  |  | No            |                  1 | On Loan: No      |
| Intesa Sanpaolo SpA                                    | Intesa Sanpaolo SpA                                    | CUSIP: 000000000<br>LEI: 2W8N8UU78PMDQKZENC08 | Long             | EC               | CORP              | IT        |   1119586 | NS      | $7790481.48   | 0.93%             |  |  |  | No            |                  1 | On Loan: No      |
| Kingspan Group PLC                                     | Kingspan Group PLC                                     | CUSIP: 000000000<br>LEI: 635400HM7V74SUB9OG75 | Long             | EC               | CORP              | IE        |     50659 | NS      | $4414479.93   | 0.53%             |  |  |  | No            |                  1 | On Loan: No      |
| Intact Financial Corp                                  | Intact Financial Corp                                  | CUSIP: 45823T106<br>LEI: 5493009LXGE7Y4U9OY43 | Long             | EC               | CORP              | CA        |     40458 | NS      | $8422326.57   | 1.01%             |  |  |  | No            |                  1 | On Loan: No      |
| Itau Unibanco Holding SA                               | Itau Unibanco Holding SA                               | CUSIP: 465562106<br>LEI: 5493002W2IVG62O3ZJ94 | Long             | EC               | CORP              | BR        |    738954 | NS      | $5290910.14   | 0.63%             |  |  |  | No            |                  1 | On Loan: No      |
| Telenor ASA                                            | Telenor ASA                                            | CUSIP: 000000000<br>LEI: 549300IM1QSBY4SLPM26 | Long             | EC               | CORP              | NO        |    152598 | NS      | $2220845.89   | 0.27%             |  |  |  | No            |                  1 | On Loan: No      |
| Schneider Electric SE                                  | Schneider Electric SE                                  | CUSIP: 000000000<br>LEI: 969500A1YF1XUYYXS284 | Long             | EC               | CORP              | FR        |     24952 | NS      | $6888111.32   | 0.83%             |  |  |  | No            |                  1 | On Loan: No      |
| SAP SE                                                 | SAP SE                                                 | CUSIP: 000000000<br>LEI: 529900D6BF99LW9R2E68 | Long             | EC               | CORP              | DE        |     30472 | NS      | $7461158.11   | 0.89%             |  |  |  | No            |                  1 | On Loan: No      |
| K92 Mining Inc                                         | K92 Mining Inc                                         | CUSIP: 499113108<br>LEI: 254900EA8H0X9FEVZU11 | Long             | EC               | CORP              | CA        |    128816 | NS      | $2129492.58   | 0.26%             |  |  |  | No            |                  1 | On Loan: No      |
| Heidelberg Materials AG                                | Heidelberg Materials AG                                | CUSIP: 000000000<br>LEI: LZ2C6E0W5W7LQMX5ZI37 | Long             | EC               | CORP              | DE        |     24482 | NS      | $6415987.89   | 0.77%             |  |  |  | No            |                  1 | On Loan: No      |
| ASM International NV                                   | ASM International NV                                   | CUSIP: 000000000<br>LEI: 7245001I22ND6ZFHX623 | Long             | EC               | CORP              | NL        |     10538 | NS      | $6410091.68   | 0.77%             |  |  |  | No            |                  1 | On Loan: No      |
| Allianz SE                                             | Allianz SE                                             | CUSIP: 000000000<br>LEI: 529900K9B0N5BT694847 | Long             | EC               | CORP              | DE        |     14628 | NS      | $6713017.34   | 0.80%             |  |  |  | No            |                  1 | On Loan: No      |
| Hermes International SCA                               | Hermes International SCA                               | CUSIP: 000000000<br>LEI: 969500Y4IJGHJE2MTJ13 | Long             | EC               | CORP              | FR        |      2525 | NS      | $6296780.30   | 0.75%             |  |  |  | No            |                  1 | On Loan: No      |
| Erste Group Bank AG                                    | Erste Group Bank AG                                    | CUSIP: 000000000<br>LEI: PQOH26KWDF7CG10L6792 | Long             | EC               | CORP              | AT        |     57884 | NS      | $6999800.92   | 0.84%             |  |  |  | No            |                  1 | On Loan: No      |
| Rheinmetall AG                                         | Rheinmetall AG                                         | CUSIP: 000000000<br>LEI: 5299001OU9CSE29O6S05 | Long             | EC               | CORP              | DE        |      2183 | NS      | $4004685.52   | 0.48%             |  |  |  | No            |                  1 | On Loan: No      |
| Bankinter SA                                           | Bankinter SA                                           | CUSIP: 000000000<br>LEI: VWMYAEQSTOPNV0SUGU82 | Long             | EC               | CORP              | ES        |    221181 | NS      | $3679336.18   | 0.44%             |  |  |  | No            |                  1 | On Loan: No      |
| Banco Bilbao Vizcaya Argentaria SA                     | Banco Bilbao Vizcaya Argentaria SA                     | CUSIP: 000000000<br>LEI: K8MS7FD7N5Z2WQ51AZ71 | Long             | EC               | CORP              | ES        |    453717 | NS      | $10690824.68  | 1.28%             |  |  |  | No            |                  1 | On Loan: No      |
| Lundin Gold Inc                                        | Lundin Gold Inc                                        | CUSIP: 550371108<br>LEI: 549300ZOV16K515FC525 | Long             | EC               | CORP              | CA        |     75348 | NS      | $6259283.06   | 0.75%             |  |  |  | No            |                  1 | On Loan: No      |
| MDA Space Ltd                                          | MDA Space Ltd                                          | CUSIP: 55293N109<br>LEI: N/A                  | Long             | EC               | CORP              | CA        |     46711 | NS      | $906619.82    | 0.11%             |  |  |  | No            |                  1 | On Loan: No      |
| UCB SA                                                 | UCB SA                                                 | CUSIP: 000000000<br>LEI: 2138008J191VLSGY5A09 | Long             | EC               | CORP              | BE        |     22432 | NS      | $6289993.76   | 0.75%             |  |  |  | No            |                  1 | On Loan: No      |
| MercadoLibre Inc                                       | MercadoLibre Inc                                       | CUSIP: 58733R102<br>LEI: 549300DKPDN9M5S8GB14 | Long             | EC               | CORP              | US        |      2340 | NS      | $4713368.40   | 0.56%             |  |  |  | No            |                  1 | On Loan: No      |
| CTS Eventim AG & Co KGaA                               | CTS Eventim AG & Co KGaA                               | CUSIP: 000000000<br>LEI: 529900FDHSN08UBJII80 | Long             | EC               | CORP              | DE        |     44787 | NS      | $4131744.03   | 0.50%             |  |  |  | No            |                  1 | On Loan: No      |
| Accton Technology Corp                                 | Accton Technology Corp                                 | CUSIP: 000000000<br>LEI: 529900M1YRZ0GWMDF920 | Long             | EC               | CORP              | TW        |    145000 | NS      | $5468563.52   | 0.66%             |  |  |  | No            |                  1 | On Loan: No      |
| Asics Corp                                             | Asics Corp                                             | CUSIP: 000000000<br>LEI: 3538002LJMRZ83SU0B85 | Long             | EC               | CORP              | JP        |    170800 | NS      | $4094445.86   | 0.49%             |  |  |  | No            |                  1 | On Loan: No      |
| Mahindra & Mahindra Ltd                                | Mahindra & Mahindra Ltd                                | CUSIP: 000000000<br>LEI: 3358003B573EV4KB4Z02 | Long             | EC               | CORP              | IN        |    100751 | NS      | $4165478.59   | 0.50%             |  |  |  | No            |                  1 | On Loan: No      |
| Clicks Group Ltd                                       | Clicks Group Ltd                                       | CUSIP: 000000000<br>LEI: 378900E967958A677472 | Long             | EC               | CORP              | ZA        |     59592 | NS      | $1211164.22   | 0.15%             |  |  |  | No            |                  1 | On Loan: No      |
| Bridgestone Corp                                       | Bridgestone Corp                                       | CUSIP: 000000000<br>LEI: 549300DHPOF90OYYD780 | Long             | EC               | CORP              | JP        |    139800 | NS      | $3136218.08   | 0.38%             |  |  |  | No            |                  1 | On Loan: No      |
| DBS Group Holdings Ltd                                 | DBS Group Holdings Ltd                                 | CUSIP: 000000000<br>LEI: 5493007FKT78NKPM5V55 | Long             | EC               | CORP              | SG        |     63160 | NS      | $2769330.64   | 0.33%             |  |  |  | No            |                  1 | On Loan: No      |
| Daifuku Co Ltd                                         | Daifuku Co Ltd                                         | CUSIP: 000000000<br>LEI: 3538006FG1W4X3MYHL36 | Long             | EC               | CORP              | JP        |    154400 | NS      | $4857528.09   | 0.58%             |  |  |  | No            |                  1 | On Loan: No      |
| Hong Kong Exchanges & Clearing Ltd                     | Hong Kong Exchanges & Clearing Ltd                     | CUSIP: 000000000<br>LEI: 213800YTVSXYQN17BW16 | Long             | EC               | CORP              | HK        |    117700 | NS      | $6164251.48   | 0.74%             |  |  |  | No            |                  1 | On Loan: No      |
| Pan Pacific International Holdings Corp                | Pan Pacific International Holdings Corp                | CUSIP: 000000000<br>LEI: 529900QLHJM2E18A5763 | Long             | EC               | CORP              | JP        |    461300 | NS      | $2745594.93   | 0.33%             |  |  |  | No            |                  1 | On Loan: No      |
| Disco Corp                                             | Disco Corp                                             | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | JP        |     17900 | NS      | $5504615.68   | 0.66%             |  |  |  | No            |                  1 | On Loan: No      |
| Apollo Hospitals Enterprise Ltd                        | Apollo Hospitals Enterprise Ltd                        | CUSIP: 000000000<br>LEI: 3358005YT7JQCWYLTG43 | Long             | EC               | CORP              | IN        |     14556 | NS      | $1139968.49   | 0.14%             |  |  |  | No            |                  1 | On Loan: No      |
| Gold Fields Ltd                                        | Gold Fields Ltd                                        | CUSIP: 000000000<br>LEI: 5299003KXIBJQYCBBD72 | Long             | EC               | CORP              | ZA        |    137190 | NS      | $6012086.65   | 0.72%             |  |  |  | No            |                  1 | On Loan: No      |
| Pro Medicus Ltd                                        | Pro Medicus Ltd                                        | CUSIP: 000000000<br>LEI: 98450085A903D1BMFF27 | Long             | EC               | CORP              | AU        |     11869 | NS      | $1749462.14   | 0.21%             |  |  |  | No            |                  1 | On Loan: No      |
| Nomura Research Institute Ltd                          | Nomura Research Institute Ltd                          | CUSIP: 000000000<br>LEI: 5299005F1HCVF4M4QN79 | Long             | EC               | CORP              | JP        |     58700 | NS      | $2256337.46   | 0.27%             |  |  |  | No            |                  1 | On Loan: No      |
| Hon Hai Precision Industry Co Ltd                      | Hon Hai Precision Industry Co Ltd                      | CUSIP: 000000000<br>LEI: 30030004CM3GSZXX7O56 | Long             | EC               | CORP              | TW        |   1713000 | NS      | $12566525.04  | 1.51%             |  |  |  | No            |                  1 | On Loan: No      |
| Capitec Bank Holdings Ltd                              | Capitec Bank Holdings Ltd                              | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | ZA        |     10056 | NS      | $2523594.49   | 0.30%             |  |  |  | No            |                  1 | On Loan: No      |
| Hoya Corp                                              | Hoya Corp                                              | CUSIP: 000000000<br>LEI: 353800X4VR3BHEUCJB42 | Long             | EC               | CORP              | JP        |     54000 | NS      | $8165155.77   | 0.98%             |  |  |  | No            |                  1 | On Loan: No      |
| Bharti Airtel Ltd                                      | Bharti Airtel Ltd                                      | CUSIP: 000000000<br>LEI: 335800KQ1FPKOQ84OR26 | Long             | EC               | CORP              | IN        |    312084 | NS      | $7316036.69   | 0.88%             |  |  |  | No            |                  1 | On Loan: No      |
| SK hynix Inc                                           | SK hynix Inc                                           | CUSIP: 000000000<br>LEI: 988400XAIK6XISWQV045 | Long             | EC               | CORP              | KR        |     39002 | NS      | $17625422.23  | 2.11%             |  |  |  | No            |                  1 | On Loan: No      |
| Ibiden Co Ltd                                          | Ibiden Co Ltd                                          | CUSIP: 000000000<br>LEI: 52990051DBFIQEY37C91 | Long             | EC               | CORP              | JP        |    106400 | NS      | $4572129.72   | 0.55%             |  |  |  | No            |                  1 | On Loan: No      |
| IHI Corp                                               | IHI Corp                                               | CUSIP: 000000000<br>LEI: 549300ETQIESIUQ2OE26 | Long             | EC               | CORP              | JP        |    467200 | NS      | $8215669.05   | 0.98%             |  |  |  | No            |                  1 | On Loan: No      |
| Organo Corp                                            | Organo Corp                                            | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | JP        |     19600 | NS      | $1621029.11   | 0.19%             |  |  |  | No            |                  1 | On Loan: No      |
| Keyence Corp                                           | Keyence Corp                                           | CUSIP: 000000000<br>LEI: 529900M7PQBS7A89DZ11 | Long             | EC               | CORP              | JP        |     14100 | NS      | $5102068.44   | 0.61%             |  |  |  | No            |                  1 | On Loan: No      |
| Kurita Water Industries Ltd                            | Kurita Water Industries Ltd                            | CUSIP: 000000000<br>LEI: 52990086GS2ON69UMX34 | Long             | EC               | CORP              | JP        |     33700 | NS      | $1365727.78   | 0.16%             |  |  |  | No            |                  1 | On Loan: No      |
| Tokio Marine Holdings Inc                              | Tokio Marine Holdings Inc                              | CUSIP: 000000000<br>LEI: 5299009QN2NZ191KLS29 | Long             | EC               | CORP              | JP        |    279300 | NS      | $10372115.04  | 1.24%             |  |  |  | No            |                  1 | On Loan: No      |
| Geely Automobile Holdings Ltd                          | Geely Automobile Holdings Ltd                          | CUSIP: 000000000<br>LEI: 549300YS3T1KVQ2SNI84 | Long             | EC               | CORP              | KY        |   1637000 | NS      | $3765055.83   | 0.45%             |  |  |  | No            |                  1 | On Loan: No      |
| Asia Vital Components Co Ltd                           | Asia Vital Components Co Ltd                           | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | TW        |     72000 | NS      | $3460161.36   | 0.41%             |  |  |  | No            |                  1 | On Loan: No      |
| Sumitomo Mitsui Financial Group Inc                    | Sumitomo Mitsui Financial Group Inc                    | CUSIP: 000000000<br>LEI: 35380028MYWPB6AUO129 | Long             | EC               | CORP              | JP        |    321000 | NS      | $10330445.61  | 1.24%             |  |  |  | No            |                  1 | On Loan: No      |
| MTN Group Ltd                                          | MTN Group Ltd                                          | CUSIP: 000000000<br>LEI: 2549009JD6Q6XHZS5E05 | Long             | EC               | CORP              | ZA        |    299006 | NS      | $3060478.08   | 0.37%             |  |  |  | No            |                  1 | On Loan: No      |
| FirstRand Ltd                                          | FirstRand Ltd                                          | CUSIP: 000000000<br>LEI: 529900XYOP8CUZU7R671 | Long             | EC               | CORP              | ZA        |    731942 | NS      | $4011095.20   | 0.48%             |  |  |  | No            |                  1 | On Loan: No      |
| Maruti Suzuki India Ltd                                | Maruti Suzuki India Ltd                                | CUSIP: 000000000<br>LEI: 335800D27PBEESKKD357 | Long             | EC               | CORP              | IN        |     18130 | NS      | $3366215.62   | 0.40%             |  |  |  | No            |                  1 | On Loan: No      |
| NEC Corp                                               | NEC Corp                                               | CUSIP: 000000000<br>LEI: 5493000QYMPFRTEY4K28 | Long             | EC               | CORP              | JP        |    122500 | NS      | $4152674.92   | 0.50%             |  |  |  | No            |                  1 | On Loan: No      |
| QBE Insurance Group Ltd                                | QBE Insurance Group Ltd                                | CUSIP: 000000000<br>LEI: 549300D2FBW76FPUSG65 | Long             | EC               | CORP              | AU        |    175110 | NS      | $2324338.72   | 0.28%             |  |  |  | No            |                  1 | On Loan: No      |
| Samsung Electronics Co Ltd                             | Samsung Electronics Co Ltd                             | CUSIP: 000000000<br>LEI: 9884007ER46L6N7EI764 | Long             | EC               | CORP              | KR        |    146837 | NS      | $12221551.70  | 1.46%             |  |  |  | No            |                  1 | On Loan: No      |
| Sanwa Holdings Corp                                    | Sanwa Holdings Corp                                    | CUSIP: 000000000<br>LEI: 5299003X6BCA4ROO5A70 | Long             | EC               | CORP              | JP        |     85500 | NS      | $2226471.53   | 0.27%             |  |  |  | No            |                  1 | On Loan: No      |
| Sumitomo Electric Industries Ltd                       | Sumitomo Electric Industries Ltd                       | CUSIP: 000000000<br>LEI: 5493005SP87FL5TOS202 | Long             | EC               | CORP              | JP        |    163800 | NS      | $6614115.17   | 0.79%             |  |  |  | No            |                  1 | On Loan: No      |
| Enel SpA                                               | Enel SpA                                               | CUSIP: 000000000<br>LEI: WOCMU6HCI0OJWNPRZS33 | Long             | EC               | CORP              | IT        |    416862 | NS      | $4348808.72   | 0.52%             |  |  |  | No            |                  1 | On Loan: No      |
| Lonza Group AG                                         | Lonza Group AG                                         | CUSIP: 000000000<br>LEI: 549300EFW4H2TCZ71055 | Long             | EC               | CORP              | CH        |     15849 | NS      | $10760752.68  | 1.29%             |  |  |  | No            |                  1 | On Loan: No      |
| Cie de Saint-Gobain SA                                 | Cie de Saint-Gobain SA                                 | CUSIP: 000000000<br>LEI: NFONVGN05Z0FMN5PEC35 | Long             | EC               | CORP              | FR        |     49989 | NS      | $5108645.41   | 0.61%             |  |  |  | No            |                  1 | On Loan: No      |
| Fixed Income Clearing Corp                             | FIXED INC CLEARING CORP.REPO                           | CUSIP: 000000000<br>LEI: 549300H47WTHXPU08X20 | Long             | RA               | CORP              | US        |   9957852 | PA      | $9957852.47   | 1.19%             |  |  |  | No            |                  2 | On Loan: No      |
| Taiwan Semiconductor Manufacturing Co Ltd              | Taiwan Semiconductor Manufacturing Co Ltd              | CUSIP: 874039100<br>LEI: 549300KB6NK5SBD14S87 | Long             | EC               | CORP              | TW        |    129993 | NS      | $39503572.77  | 4.73%             |  |  |  | No            |                  1 | On Loan: No      |
| Tencent Music Entertainment Group                      | Tencent Music Entertainment Group                      | CUSIP: 88034P109<br>LEI: 213800XTZK2GOHQTYK41 | Long             | EC               | CORP              | KY        |     95761 | NS      | $1678690.33   | 0.20%             |  |  |  | No            |                  1 | On Loan: No      |
| Toromont Industries Ltd                                | Toromont Industries Ltd                                | CUSIP: 891102105<br>LEI: 5493008W5EPRSLQ0B737 | Long             | EC               | CORP              | CA        |     41145 | NS      | $4977689.16   | 0.60%             |  |  |  | No            |                  1 | On Loan: No      |
| WSP Global Inc                                         | WSP Global Inc                                         | CUSIP: 92938W202<br>LEI: 549300IQ87LU6X6ERQ78 | Long             | EC               | CORP              | CA        |     30418 | NS      | $5507618.20   | 0.66%             |  |  |  | No            |                  1 | On Loan: No      |
| Wuxi Biologics Cayman Inc                              | Wuxi Biologics Cayman Inc                              | CUSIP: 000000000<br>LEI: 5493001TD2TH6VDTJU11 | Long             | EC               | CORP              | KY        |    703000 | NS      | $2839929.59   | 0.34%             |  |  |  | Yes           |                  1 | On Loan: No      |
| Airtac International Group                             | Airtac International Group                             | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | KY        |     46204 | NS      | $1367569.58   | 0.16%             |  |  |  | No            |                  1 | On Loan: No      |
| D'ieteren Group                                        | D'ieteren Group                                        | CUSIP: 000000000<br>LEI: 549300DV5KJ23OKVTW34 | Long             | EC               | CORP              | BE        |      8549 | NS      | $1546200.17   | 0.19%             |  |  |  | No            |                  1 | On Loan: No      |
| Brunello Cucinelli SpA                                 | Brunello Cucinelli SpA                                 | CUSIP: 000000000<br>LEI: 5493003CX2RZ0FOBH256 | Long             | EC               | CORP              | IT        |     25510 | NS      | $2950567.80   | 0.35%             |  |  |  | No            |                  1 | On Loan: No      |
| ASML Holding NV                                        | ASML Holding NV                                        | CUSIP: 000000000<br>LEI: 724500Y6DUVHQD6OXN27 | Long             | EC               | CORP              | NL        |     17450 | NS      | $18895370.77  | 2.26%             |  |  |  | No            |                  1 | On Loan: No      |
| Bharat Electronics Ltd                                 | Bharat Electronics Ltd                                 | CUSIP: 000000000<br>LEI: 335800HS8AOTM9W1F335 | Long             | EC               | CORP              | IN        |    554633 | NS      | $2463406.45   | 0.30%             |  |  |  | No            |                  1 | On Loan: No      |
| HD Hyundai Co Ltd                                      | HD Hyundai Co Ltd                                      | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | KR        |     24657 | NS      | $3226437.47   | 0.39%             |  |  |  | No            |                  1 | On Loan: No      |
| Galenica AG                                            | Galenica AG                                            | CUSIP: 000000000<br>LEI: 506700W4772BD8016Z20 | Long             | EC               | CORP              | CH        |     21334 | NS      | $2631399.82   | 0.32%             |  |  |  | Yes           |                  1 | On Loan: No      |
| BE Semiconductor Industries NV                         | BE Semiconductor Industries NV                         | CUSIP: 000000000<br>LEI: 7245007A1YFLI2GNYX06 | Long             | EC               | CORP              | NL        |     28970 | NS      | $4553591.47   | 0.55%             |  |  |  | No            |                  1 | On Loan: No      |
| Eicher Motors Ltd                                      | Eicher Motors Ltd                                      | CUSIP: 000000000<br>LEI: 25490059S64CN2OY7239 | Long             | EC               | CORP              | IN        |     52963 | NS      | $4309901.73   | 0.52%             |  |  |  | No            |                  1 | On Loan: No      |
| Siemens Energy AG                                      | Siemens Energy AG                                      | CUSIP: 000000000<br>LEI: 5299005CHJZ14D4FDJ62 | Long             | EC               | CORP              | DE        |     35069 | NS      | $4962055.85   | 0.59%             |  |  |  | No            |                  1 | On Loan: No      |
| Sweco AB                                               | Sweco AB                                               | CUSIP: 000000000<br>LEI: 549300Q4Y55VICYV6U90 | Long             | EC               | CORP              | SE        |     58845 | NS      | $964504.48    | 0.12%             |  |  |  | No            |                  1 | On Loan: No      |
| Eternal Ltd                                            | Eternal Ltd                                            | CUSIP: 000000000<br>LEI: 335800T4VOF9ETHF8W59 | Long             | EC               | CORP              | IN        |    574279 | NS      | $1776583.69   | 0.21%             |  |  |  | No            |                  1 | On Loan: No      |
| Dixon Technologies India Ltd                           | Dixon Technologies India Ltd                           | CUSIP: 000000000<br>LEI: 335800D7XO7AVXXJ8575 | Long             | EC               | CORP              | IN        |      9887 | NS      | $1326745.69   | 0.16%             |  |  |  | Yes           |                  1 | On Loan: No      |
| Lodha Developers Ltd                                   | Lodha Developers Ltd                                   | CUSIP: 000000000<br>LEI: 254900B5QCN52ETNU557 | Long             | EC               | CORP              | IN        |    114572 | NS      | $1352488.91   | 0.16%             |  |  |  | Yes           |                  1 | On Loan: No      |
| Allfunds Group Plc                                     | Allfunds Group Plc                                     | CUSIP: 000000000<br>LEI: 9598005U8TZQ8Q64SC71 | Long             | EC               | CORP              | GB        |    227697 | NS      | $2152757.63   | 0.26%             |  |  |  | No            |                  1 | On Loan: No      |
| Saipem SpA                                             | Saipem SpA                                             | CUSIP: 000000000<br>LEI: 549300PHV8MBDHWB8X12 | Long             | EC               | CORP              | IT        |    739129 | NS      | $2106414.16   | 0.25%             |  |  |  | No            |                  1 | On Loan: No      |
| Sandoz Group AG                                        | Sandoz Group AG                                        | CUSIP: 000000000<br>LEI: 5493000JWK6XWFEUD320 | Long             | EC               | CORP              | CH        |    112992 | NS      | $8250798.23   | 0.99%             |  |  |  | No            |                  1 | On Loan: No      |
| Hindustan Aeronautics Ltd                              | Hindustan Aeronautics Ltd                              | CUSIP: 000000000<br>LEI: 335800AKDC7T933T3I86 | Long             | EC               | CORP              | IN        |     45829 | NS      | $2236396.70   | 0.27%             |  |  |  | Yes           |                  1 | On Loan: No      |
| Galderma Group AG                                      | Galderma Group AG                                      | CUSIP: 000000000<br>LEI: 89450001OK6O8ELQ4584 | Long             | EC               | CORP              | CH        |     30886 | NS      | $6320692.59   | 0.76%             |  |  |  | No            |                  1 | On Loan: No      |
| Unilever PLC                                           | Unilever PLC                                           | CUSIP: 000000000<br>LEI: 549300MKFYEKVRWML317 | Long             | EC               | CORP              | GB        |     73909 | NS      | $4841309.64   | 0.58%             |  |  |  | No            |                  1 | On Loan: No      |
| Azimut Holding SpA                                     | Azimut Holding SpA                                     | CUSIP: 000000000<br>LEI: 81560025690EF8540635 | Long             | EC               | CORP              | IT        |     62751 | NS      | $2635645.39   | 0.32%             |  |  |  | No            |                  1 | On Loan: No      |
| Asahi Intecc Co Ltd                                    | Asahi Intecc Co Ltd                                    | CUSIP: 000000000<br>LEI: 353800J3AV2SCNIO8L39 | Long             | EC               | CORP              | JP        |    107300 | NS      | $2012217.51   | 0.24%             |  |  |  | No            |                  1 | On Loan: No      |
| Bank Central Asia Tbk PT                               | Bank Central Asia Tbk PT                               | CUSIP: 000000000<br>LEI: 254900BR956G2OHVOM21 | Long             | EC               | CORP              | ID        |  12096330 | NS      | $5857743.01   | 0.70%             |  |  |  | No            |                  1 | On Loan: No      |
| King Slide Works Co Ltd                                | King Slide Works Co Ltd                                | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | TW        |     16000 | NS      | $1909581.32   | 0.23%             |  |  |  | No            |                  1 | On Loan: No      |
| Emaar Properties PJSC                                  | Emaar Properties PJSC                                  | CUSIP: 000000000<br>LEI: 254900YWYEXYXK1BMP81 | Long             | EC               | CORP              | AE        |    789592 | NS      | $3020561.60   | 0.36%             |  |  |  | No            |                  1 | On Loan: No      |
| Safran SA                                              | Safran SA                                              | CUSIP: 000000000<br>LEI: 969500UIC89GT3UL7L24 | Long             | EC               | CORP              | FR        |     25866 | NS      | $9040282.80   | 1.08%             |  |  |  | No            |                  1 | On Loan: No      |
| Internet Initiative Japan Inc                          | Internet Initiative Japan Inc                          | CUSIP: 000000000<br>LEI: 529900EOCJNAPUHDFR78 | Long             | EC               | CORP              | JP        |     68900 | NS      | $1216438.65   | 0.15%             |  |  |  | No            |                  1 | On Loan: No      |
| MTU Aero Engines AG                                    | MTU Aero Engines AG                                    | CUSIP: 000000000<br>LEI: 529900807L67JY81RD65 | Long             | EC               | CORP              | DE        |     16806 | NS      | $7017321.04   | 0.84%             |  |  |  | No            |                  1 | On Loan: No      |
| Indutrade AB                                           | Indutrade AB                                           | CUSIP: 000000000<br>LEI: 549300FISLQ6CEFP1867 | Long             | EC               | CORP              | SE        |     56788 | NS      | $1482847.47   | 0.18%             |  |  |  | No            |                  1 | On Loan: No      |
| Aldar Properties PJSC                                  | Aldar Properties PJSC                                  | CUSIP: 000000000<br>LEI: 98450048CD8AEF13B480 | Long             | EC               | CORP              | AE        |    501176 | NS      | $1187184.32   | 0.14%             |  |  |  | No            |                  1 | On Loan: No      |
| London Stock Exchange Group PLC                        | London Stock Exchange Group PLC                        | CUSIP: 000000000<br>LEI: 213800QAUUUP6I445N30 | Long             | EC               | CORP              | GB        |     79037 | NS      | $9537278.57   | 1.14%             |  |  |  | No            |                  1 | On Loan: No      |
| VusionGroup                                            | VusionGroup                                            | CUSIP: 000000000<br>LEI: 969500U51BYOMEW9M549 | Long             | EC               | CORP              | FR        |      7831 | NS      | $1879250.79   | 0.23%             |  |  |  | No            |                  1 | On Loan: No      |
| Legrand SA                                             | Legrand SA                                             | CUSIP: 000000000<br>LEI: 969500XXRPGD7HCAFA90 | Long             | EC               | CORP              | FR        |     37512 | NS      | $5609701.98   | 0.67%             |  |  |  | No            |                  1 | On Loan: No      |
| Metso Oyj                                              | Metso Oyj                                              | CUSIP: 000000000<br>LEI: 549300R0VN9C371W0E07 | Long             | EC               | CORP              | FI        |    216112 | NS      | $3804542.81   | 0.46%             |  |  |  | No            |                  1 | On Loan: No      |
| Indian Hotels Co Ltd/The                               | Indian Hotels Co Ltd/The                               | CUSIP: 000000000<br>LEI: 33580076CH5SBY5HWA22 | Long             | EC               | CORP              | IN        |    247960 | NS      | $2034482.90   | 0.24%             |  |  |  | No            |                  1 | On Loan: No      |
| MonotaRO Co Ltd                                        | MonotaRO Co Ltd                                        | CUSIP: 000000000<br>LEI: 5299005JUER5ANXWTC33 | Long             | EC               | CORP              | JP        |    198800 | NS      | $3173515.07   | 0.38%             |  |  |  | No            |                  1 | On Loan: No      |
| Grupo Aeroportuario del Centro Norte SAB de CV         | Grupo Aeroportuario del Centro Norte SAB de CV         | CUSIP: 000000000<br>LEI: 529900HUSBARAFSXJ605 | Long             | EC               | CORP              | MX        |     96400 | NS      | $1308459.70   | 0.16%             |  |  |  | No            |                  1 | On Loan: No      |
| DSV A/S                                                | DSV A/S                                                | CUSIP: 000000000<br>LEI: 529900X41C0BSLK67H70 | Long             | EC               | CORP              | DK        |     30183 | NS      | $7669639.61   | 0.92%             |  |  |  | No            |                  1 | On Loan: No      |
| Cia de Saneamento Basico do Estado de Sao Paulo SABESP | Cia de Saneamento Basico do Estado de Sao Paulo SABESP | CUSIP: 000000000<br>LEI: 254900UOXRZRS2TNWP19 | Long             | EC               | CORP              | BR        |    116491 | NS      | $2835664.86   | 0.34%             |  |  |  | No            |                  1 | On Loan: No      |
| 3i Group PLC                                           | 3i Group PLC                                           | CUSIP: 000000000<br>LEI: 35GDVHRBMFE7NWATNM84 | Long             | EC               | CORP              | GB        |    149057 | NS      | $6556067.21   | 0.79%             |  |  |  | No            |                  1 | On Loan: No      |
| MatsukiyoCocokara & Co                                 | MatsukiyoCocokara & Co                                 | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | JP        |    110400 | NS      | $1911419.82   | 0.23%             |  |  |  | No            |                  1 | On Loan: No      |
| Iberdrola SA                                           | Iberdrola SA                                           | CUSIP: 000000000<br>LEI: 5QK37QC7NWOJ8D7WVQ45 | Long             | EC               | CORP              | ES        |    445325 | NS      | $9663582.70   | 1.16%             |  |  |  | No            |                  1 | On Loan: No      |
| Emirates NBD Bank PJSC                                 | Emirates NBD Bank PJSC                                 | CUSIP: 000000000<br>LEI: 54930029BCN8HF3B1286 | Long             | EC               | CORP              | AE        |    384472 | NS      | $2915402.68   | 0.35%             |  |  |  | No            |                  1 | On Loan: No      |
| Gjensidige Forsikring ASA                              | Gjensidige Forsikring ASA                              | CUSIP: 000000000<br>LEI: 5967007LIEEXZX6FAO47 | Long             | EC               | CORP              | NO        |     47447 | NS      | $1421527.18   | 0.17%             |  |  |  | No            |                  1 | On Loan: No      |
| AIA Group Ltd                                          | AIA Group Ltd                                          | CUSIP: 000000000<br>LEI: ZP5ILWVSYE4LJGMMVD57 | Long             | EC               | CORP              | HK        |    599600 | NS      | $6155709.46   | 0.74%             |  |  |  | No            |                  1 | On Loan: No      |
| Novonesis Novozymes B                                  | Novonesis Novozymes B                                  | CUSIP: 000000000<br>LEI: 529900T6WNZXD2R3JW38 | Long             | EC               | CORP              | DK        |     52630 | NS      | $3376918.80   | 0.40%             |  |  |  | No            |                  1 | On Loan: No      |
| Steadfast Group Ltd                                    | Steadfast Group Ltd                                    | CUSIP: 000000000<br>LEI: 9845003B6BEAA12DBD91 | Long             | EC               | CORP              | AU        |    482532 | NS      | $1700253.70   | 0.20%             |  |  |  | No            |                  1 | On Loan: No      |
| Italgas SpA                                            | Italgas SpA                                            | CUSIP: 000000000<br>LEI: 815600F25FF44EF1FA76 | Long             | EC               | CORP              | IT        |    365328 | NS      | $4085107.89   | 0.49%             |  |  |  | No            |                  1 | On Loan: No      |
| Compass Group PLC                                      | Compass Group PLC                                      | CUSIP: 000000000<br>LEI: 2138008M6MH9OZ6U2T68 | Long             | EC               | CORP              | GB        |    188178 | NS      | $5996395.47   | 0.72%             |  |  |  | No            |                  1 | On Loan: No      |
| Capricorn Metals Ltd                                   | Capricorn Metals Ltd                                   | CUSIP: 000000000<br>LEI: 529900CRG304NUYMOV23 | Long             | EC               | CORP              | AU        |    217855 | NS      | $2090644.09   | 0.25%             |  |  |  | No            |                  1 | On Loan: No      |
| AIB Group PLC                                          | AIB Group PLC                                          | CUSIP: 000000000<br>LEI: 635400AKJBGNS5WNQL34 | Long             | EC               | CORP              | IE        |    582258 | NS      | $6295280.28   | 0.75%             |  |  |  | No            |                  1 | On Loan: No      |
| Japan Elevator Service Holdings Co Ltd                 | Japan Elevator Service Holdings Co Ltd                 | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | JP        |    128300 | NS      | $1423962.91   | 0.17%             |  |  |  | No            |                  1 | On Loan: No      |
| Emaar Development PJSC                                 | Emaar Development PJSC                                 | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | AE        |    394796 | NS      | $1628523.42   | 0.20%             |  |  |  | No            |                  1 | On Loan: No      |
| Valmet Oyj                                             | Valmet Oyj                                             | CUSIP: 000000000<br>LEI: 213800D9O7FUQDH83V62 | Long             | EC               | CORP              | FI        |     35292 | NS      | $1174991.23   | 0.14%             |  |  |  | No            |                  1 | On Loan: No      |
| HDFC Bank Ltd                                          | HDFC Bank Ltd                                          | CUSIP: 000000000<br>LEI: 335800ZQ6I4E2JXENC50 | Long             | EC               | CORP              | IN        |    552998 | NS      | $6108982.86   | 0.73%             |  |  |  | No            |                  1 | On Loan: No      |
| Alibaba Group Holding Ltd                              | Alibaba Group Holding Ltd                              | CUSIP: 000000000<br>LEI: 5493001NTNQJDH60PM02 | Long             | EC               | CORP              | KY        |    660900 | NS      | $12126449.69  | 1.45%             |  |  |  | No            |                  1 | On Loan: No      |
| Atlas Copco AB                                         | Atlas Copco AB                                         | CUSIP: 000000000<br>LEI: 213800T8PC8Q4FYJZR07 | Long             | EC               | CORP              | SE        |    338895 | NS      | $6112367.87   | 0.73%             |  |  |  | No            |                  1 | On Loan: No      |
| Max Healthcare Institute Ltd                           | Max Healthcare Institute Ltd                           | CUSIP: 000000000<br>LEI: 3358005LALYV4GZOYF67 | Long             | EC               | CORP              | IN        |    144198 | NS      | $1676706.01   | 0.20%             |  |  |  | No            |                  1 | On Loan: No      |
| RENK Group AG                                          | RENK Group AG                                          | CUSIP: 000000000<br>LEI: 894500H8CNSZ53EI6K63 | Long             | EC               | CORP              | DE        |     26184 | NS      | $1649964.43   | 0.20%             |  |  |  | No            |                  1 | On Loan: No      |
| Tencent Holdings Ltd                                   | Tencent Holdings Ltd                                   | CUSIP: 000000000<br>LEI: 254900N4SLUMW4XUYY11 | Long             | EC               | CORP              | KY        |    317900 | NS      | $24467357.09  | 2.93%             |  |  |  | No            |                  1 | On Loan: No      |
| Lottomatica Group Spa                                  | Lottomatica Group Spa                                  | CUSIP: 000000000<br>LEI: 549300R72LKEGT4EX026 | Long             | EC               | CORP              | IT        |     73181 | NS      | $1926451.75   | 0.23%             |  |  |  | No            |                  1 | On Loan: No      |
| Euronext NV                                            | Euronext NV                                            | CUSIP: 000000000<br>LEI: 724500QJ4QSZ3H9QU415 | Long             | EC               | CORP              | NL        |     23469 | NS      | $3530338.38   | 0.42%             |  |  |  | Yes           |                  1 | On Loan: No      |
| Beijer Ref AB                                          | Beijer Ref AB                                          | CUSIP: 000000000<br>LEI: 549300PZZEUVH08H4G75 | Long             | EC               | CORP              | SE        |    258517 | NS      | $4186703.38   | 0.50%             |  |  |  | No            |                  1 | On Loan: No      |
| Fuyao Glass Industry Group Co Ltd                      | Fuyao Glass Industry Group Co Ltd                      | CUSIP: 000000000<br>LEI: 549300AS5CSLWETN0P64 | Long             | EC               | CORP              | CN        |    250200 | NS      | $2323096.13   | 0.28%             |  |  |  | No            |                  1 | On Loan: No      |
| Rakuten Bank Ltd                                       | Rakuten Bank Ltd                                       | CUSIP: 000000000<br>LEI: 3538007HFAF2NOCBUE44 | Long             | EC               | CORP              | JP        |     48500 | NS      | $2140143.00   | 0.26%             |  |  |  | No            |                  1 | On Loan: No      |
| CVC Capital Partners PLC                               | CVC Capital Partners PLC                               | CUSIP: 000000000<br>LEI: 213800E8UQS1KA32YD39 | Long             | EC               | CORP              | JE        |    202442 | NS      | $3402110.66   | 0.41%             |  |  |  | Yes           |                  1 | On Loan: No      |
| ICICI Bank Ltd                                         | ICICI Bank Ltd                                         | CUSIP: 000000000<br>LEI: R7RX8ER1V4666J8D1I38 | Long             | EC               | CORP              | IN        |    384043 | NS      | $5738464.53   | 0.69%             |  |  |  | No            |                  1 | On Loan: No      |
| Bajaj Finance Ltd                                      | Bajaj Finance Ltd                                      | CUSIP: 000000000<br>LEI: 335800YTEXC3DO4Z6F68 | Long             | EC               | CORP              | IN        |    357165 | NS      | $3920178.29   | 0.47%             |  |  |  | No            |                  1 | On Loan: No      |
| Embraer SA                                             | Embraer SA                                             | CUSIP: 000000000<br>LEI: 549300EM51WYXFHUY333 | Long             | EC               | CORP              | BR        |    136500 | NS      | $2207016.74   | 0.26%             |  |  |  | No            |                  1 | On Loan: No      |
| Rotork PLC                                             | Rotork PLC                                             | CUSIP: 000000000<br>LEI: 213800AH5RZIHGWRJ718 | Long             | EC               | CORP              | GB        |    459533 | NS      | $2015617.87   | 0.24%             |  |  |  | No            |                  1 | On Loan: No      |
| Spirax Group PLC                                       | Spirax Group PLC                                       | CUSIP: 000000000<br>LEI: 213800WFVZQMHOZP2W17 | Long             | EC               | CORP              | GB        |     18790 | NS      | $1727368.92   | 0.21%             |  |  |  | No            |                  1 | On Loan: No      |
| UniCredit SpA                                          | UniCredit SpA                                          | CUSIP: 000000000<br>LEI: 549300TRUWO2CD2G5692 | Long             | EC               | CORP              | IT        |    133737 | NS      | $11146334.77  | 1.34%             |  |  |  | No            |                  1 | On Loan: No      |
| BayCurrent Inc                                         | BayCurrent Inc                                         | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | JP        |     38400 | NS      | $1593462.72   | 0.19%             |  |  |  | No            |                  1 | On Loan: No      |
| Beazley PLC                                            | Beazley PLC                                            | CUSIP: 000000000<br>LEI: 213800VTOMUWD41GIT12 | Long             | EC               | CORP              | GB        |    300398 | NS      | $3368948.02   | 0.40%             |  |  |  | No            |                  1 | On Loan: No      |
| flatexDEGIRO AG                                        | flatexDEGIRO AG                                        | CUSIP: 000000000<br>LEI: 529900IRBZTADXJB6757 | Long             | EC               | CORP              | DE        |     46921 | NS      | $2025900.87   | 0.24%             |  |  |  | No            |                  1 | On Loan: No      |
| Sartorius Stedim Biotech                               | Sartorius Stedim Biotech                               | CUSIP: 000000000<br>LEI: 52990006IVXY7GCSSR39 | Long             | EC               | CORP              | FR        |     20368 | NS      | $5026659.41   | 0.60%             |  |  |  | No            |                  1 | On Loan: No      |
| Softcat PLC                                            | Softcat PLC                                            | CUSIP: 000000000<br>LEI: 213800N42YZLR9GLVC42 | Long             | EC               | CORP              | GB        |     64858 | NS      | $1238817.55   | 0.15%             |  |  |  | No            |                  1 | On Loan: No      |
| VAT Group AG                                           | VAT Group AG                                           | CUSIP: 000000000<br>LEI: 529900MVFK7NVALR7Y83 | Long             | EC               | CORP              | CH        |      6146 | NS      | $2994244.92   | 0.36%             |  |  |  | Yes           |                  1 | On Loan: No      |
| BAWAG Group AG                                         | BAWAG Group AG                                         | CUSIP: 000000000<br>LEI: 529900S9YO2JHTIIDG38 | Long             | EC               | CORP              | AT        |     26382 | NS      | $3999532.27   | 0.48%             |  |  |  | Yes           |                  1 | On Loan: No      |
| Bid Corp Ltd                                           | Bid Corp Ltd                                           | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | ZA        |    116010 | NS      | $2955382.77   | 0.35%             |  |  |  | No            |                  1 | On Loan: No      |
| Banco BTG Pactual SA                                   | Banco BTG Pactual SA                                   | CUSIP: 000000000<br>LEI: ZXLTQRYIK6IJH3R0IK66 | Long             | EC               | CORP              | BR        |    613300 | NS      | $5884814.82   | 0.71%             |  |  |  | No            |                  1 | On Loan: No      |
| Arch Capital Group Ltd                                 | Arch Capital Group Ltd                                 | CUSIP: 000000000<br>LEI: 549300AYR4P8AFKDCE43 | Long             | EC               | CORP              | BM        |     54849 | NS      | $5261116.08   | 0.63%             |  |  |  | No            |                  1 | On Loan: No      |
| Credicorp Ltd                                          | Credicorp Ltd                                          | CUSIP: 000000000<br>LEI: 529900UYAEYQCQ2BKB17 | Long             | EC               | CORP              | BM        |      8822 | NS      | $2531914.00   | 0.30%             |  |  |  | No            |                  1 | On Loan: No      |
| Coca-Cola Europacific Partners PLC                     | Coca-Cola Europacific Partners PLC                     | CUSIP: 000000000<br>LEI: 549300LTH67W4GWMRF57 | Long             | EC               | CORP              | GB        |     42312 | NS      | $3837698.40   | 0.46%             |  |  |  | No            |                  1 | On Loan: No      |
| Fabrinet                                               | Fabrinet                                               | CUSIP: 000000000<br>LEI: 5493004TETZ6IYF7CV44 | Long             | EC               | CORP              | KY        |      8007 | NS      | $3645426.96   | 0.44%             |  |  |  | No            |                  1 | On Loan: No      |
| Grab Holdings Ltd                                      | Grab Holdings Ltd                                      | CUSIP: 000000000<br>LEI: 549300N4VQX83VPJF439 | Long             | EC               | CORP              | KY        |    623936 | NS      | $3113440.64   | 0.37%             |  |  |  | No            |                  1 | On Loan: No      |
| Linde PLC                                              | Linde PLC                                              | CUSIP: 000000000<br>LEI: 5299003QR1WT0EF88V51 | Long             | EC               | CORP              | IE        |     12482 | NS      | $5322199.98   | 0.64%             |  |  |  | No            |                  1 | On Loan: No      |
| NU Holdings Ltd/Cayman Islands                         | NU Holdings Ltd/Cayman Islands                         | CUSIP: 000000000<br>LEI: 5493002DG1RHWK9W2X27 | Long             | EC               | CORP              | KY        |    270634 | NS      | $4530413.16   | 0.54%             |  |  |  | No            |                  1 | On Loan: No      |
| XP Inc                                                 | XP Inc                                                 | CUSIP: 000000000<br>LEI: 5493008KDA8NBZRJST80 | Long             | EC               | CORP              | KY        |     82506 | NS      | $1350623.22   | 0.16%             |  |  |  | No            |                  1 | On Loan: No      |
| Sportradar Group AG                                    | Sportradar Group AG                                    | CUSIP: 000000000<br>LEI: 549300H1P33YOAT7Z533 | Long             | EC               | CORP              | CH        |     53071 | NS      | $1261497.67   | 0.15%             |  |  |  | No            |                  1 | On Loan: No      |
| Spotify Technology SA                                  | Spotify Technology SA                                  | CUSIP: 000000000<br>LEI: 549300B4X0JHWV0DTD60 | Long             | EC               | CORP              | LU        |      9128 | NS      | $5300720.88   | 0.64%             |  |  |  | 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