# EDGAR Filing Document

**Accession Number:** 0000822632
**File Stem:** 0001410368-26-013307
**Filing Date:** 2026-2
**Character Count:** 38728
**Document Hash:** bb60af162fd0f59ef547249e5312a9e8
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001410368-26-013307.hdr.sgml**: 20260218

**ACCESSION NUMBER**: 0001410368-26-013307

**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:** 26646307

**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 Emerging Markets ex China Growth Fund (Series ID: S000075390)

| Class ID   | Class Name   | Ticker Symbol   |
|:---|:---|:---|
| C000234384 | Class I      | WXCIX           |
| C000234385 | Class R6     | WXCRX           |

## 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 Emerging Markets ex China Growth Fund

- **b. EDGAR series identifier (if any):** S000075390

- **c. LEI of Series:** 549300FW26VGWDPYE403

**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:** $57998240.25

**Total Liabilities:** $408967.11

**Net Assets:** $57589273.14

**Cash Not Reported:** $85592.04

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000234384 | 9.62%                | -3.50%               | 4.07%                |
| Class ID C000234385 | 9.67%                | -3.55%               | 4.10%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $490536.73               | $4483921.77                                |
| Month 2  | $1373745.49              | $-3373047.60                               |
| Month 3  | $-63728.36               | $2191299.44                                |

### 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        |      9629 | NS      | $425595.03    | 0.74%             |  |  |  | No            |                  1 | On Loan: No      |
| Pan African Resources PLC                              | Pan African Resources PLC                              | CUSIP: 000000000<br>LEI: 213800EAXURCXMX6RL85 | Long             | EC               | CORP              | GB        |    209631 | NS      | $341912.38    | 0.59%             |  |  |  | No            |                  1 | On Loan: No      |
| Banco de Chile                                         | Banco de Chile                                         | CUSIP: 000000000<br>LEI: 8B4EZFY8IHJC44TT2K84 | Long             | EC               | CORP              | CL        |   1506754 | NS      | $291034.14    | 0.51%             |  |  |  | No            |                  1 | On Loan: No      |
| Grupo Financiero Banorte SAB de CV                     | Grupo Financiero Banorte SAB de CV                     | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | MX        |     44500 | NS      | $412293.77    | 0.72%             |  |  |  | No            |                  1 | On Loan: No      |
| Falabella SA                                           | Falabella SA                                           | CUSIP: 000000000<br>LEI: 5493004CKJQ7H391LM41 | Long             | EC               | CORP              | CL        |     50088 | NS      | $349399.44    | 0.61%             |  |  |  | No            |                  1 | On Loan: No      |
| Itau Unibanco Holding SA                               | Itau Unibanco Holding SA                               | CUSIP: 465562106<br>LEI: 5493002W2IVG62O3ZJ94 | Long             | EC               | CORP              | BR        |     91391 | NS      | $654358.63    | 1.14%             |  |  |  | No            |                  1 | On Loan: No      |
| Laureate Education Inc                                 | Laureate Education Inc                                 | CUSIP: 518613203<br>LEI: 5JL7TMOH5TY3IUYSUP91 | Long             | EC               | CORP              | US        |      9070 | NS      | $305386.90    | 0.53%             |  |  |  | No            |                  1 | On Loan: No      |
| MercadoLibre Inc                                       | MercadoLibre Inc                                       | CUSIP: 58733R102<br>LEI: 549300DKPDN9M5S8GB14 | Long             | EC               | CORP              | US        |       560 | NS      | $1127985.60   | 1.96%             |  |  |  | No            |                  1 | On Loan: No      |
| Abu Dhabi Islamic Bank PJSC                            | Abu Dhabi Islamic Bank PJSC                            | CUSIP: 000000000<br>LEI: 5493006DOLY8O98XHD74 | Long             | EC               | CORP              | AE        |     44399 | NS      | $250962.70    | 0.44%             |  |  |  | No            |                  1 | On Loan: No      |
| Accton Technology Corp                                 | Accton Technology Corp                                 | CUSIP: 000000000<br>LEI: 529900M1YRZ0GWMDF920 | Long             | EC               | CORP              | TW        |     20000 | NS      | $754284.62    | 1.31%             |  |  |  | No            |                  1 | On Loan: No      |
| Reliance Industries Ltd                                | Reliance Industries Ltd                                | CUSIP: 000000000<br>LEI: 5493003UOETFYRONLG31 | Long             | EC               | CORP              | IN        |     38822 | NS      | $677704.99    | 1.18%             |  |  |  | No            |                  1 | On Loan: No      |
| Mahindra & Mahindra Ltd                                | Mahindra & Mahindra Ltd                                | CUSIP: 000000000<br>LEI: 3358003B573EV4KB4Z02 | Long             | EC               | CORP              | IN        |     13550 | NS      | $560215.13    | 0.97%             |  |  |  | No            |                  1 | On Loan: No      |
| Gold Circuit Electronics Ltd                           | Gold Circuit Electronics Ltd                           | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | TW        |     18000 | NS      | $393564.71    | 0.68%             |  |  |  | No            |                  1 | On Loan: No      |
| GE Vernova T&D India Ltd                               | GE Vernova T&D India Ltd                               | CUSIP: 000000000<br>LEI: 549300NMRD6VZDFLN355 | Long             | EC               | CORP              | IN        |     11437 | NS      | $398528.92    | 0.69%             |  |  |  | No            |                  1 | On Loan: No      |
| Kakao Corp                                             | Kakao Corp                                             | CUSIP: 000000000<br>LEI: 988400FTKUBQXKVZP434 | Long             | EC               | CORP              | KR        |      9002 | NS      | $375565.03    | 0.65%             |  |  |  | No            |                  1 | On Loan: No      |
| Chroma ATE Inc                                         | Chroma ATE Inc                                         | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | TW        |     33000 | NS      | $813959.04    | 1.41%             |  |  |  | No            |                  1 | On Loan: No      |
| Delta Electronics Inc                                  | Delta Electronics Inc                                  | CUSIP: 000000000<br>LEI: 529900UVZWNWGDLJSM52 | Long             | EC               | CORP              | TW        |     36000 | NS      | $1103356.09   | 1.92%             |  |  |  | No            |                  1 | On Loan: No      |
| IsuPetasys Co Ltd                                      | IsuPetasys Co Ltd                                      | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | KR        |      2696 | NS      | $223083.68    | 0.39%             |  |  |  | No            |                  1 | On Loan: No      |
| Cummins India Ltd                                      | Cummins India Ltd                                      | CUSIP: 000000000<br>LEI: 3358002PR6NKJRU4YS77 | Long             | EC               | CORP              | IN        |      5540 | NS      | $272884.42    | 0.47%             |  |  |  | No            |                  1 | On Loan: No      |
| Elite Material Co Ltd                                  | Elite Material Co Ltd                                  | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | TW        |     11000 | NS      | $575897.90    | 1.00%             |  |  |  | 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        |    135000 | NS      | $990356.61    | 1.72%             |  |  |  | No            |                  1 | On Loan: No      |
| Capitec Bank Holdings Ltd                              | Capitec Bank Holdings Ltd                              | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | ZA        |      3224 | NS      | $809076.04    | 1.40%             |  |  |  | No            |                  1 | On Loan: No      |
| Bharti Airtel Ltd                                      | Bharti Airtel Ltd                                      | CUSIP: 000000000<br>LEI: 335800KQ1FPKOQ84OR26 | Long             | EC               | CORP              | IN        |     47548 | NS      | $1114645.14   | 1.94%             |  |  |  | No            |                  1 | On Loan: No      |
| SK hynix Inc                                           | SK hynix Inc                                           | CUSIP: 000000000<br>LEI: 988400XAIK6XISWQV045 | Long             | EC               | CORP              | KR        |      6754 | NS      | $3052205.06   | 5.30%             |  |  |  | No            |                  1 | On Loan: No      |
| International Container Terminal Services Inc          | International Container Terminal Services Inc          | CUSIP: 000000000<br>LEI: 254900FU1MWK0I0Q4J61 | Long             | EC               | CORP              | PH        |     57000 | NS      | $549339.23    | 0.95%             |  |  |  | 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        |     10000 | NS      | $480577.97    | 0.83%             |  |  |  | No            |                  1 | On Loan: No      |
| MTN Group Ltd                                          | MTN Group Ltd                                          | CUSIP: 000000000<br>LEI: 2549009JD6Q6XHZS5E05 | Long             | EC               | CORP              | ZA        |     28991 | NS      | $296737.59    | 0.52%             |  |  |  | No            |                  1 | On Loan: No      |
| TVS Motor Co Ltd                                       | TVS Motor Co Ltd                                       | CUSIP: 000000000<br>LEI: 335800URVL13UQEWM152 | Long             | EC               | CORP              | IN        |      9828 | NS      | $406769.07    | 0.71%             |  |  |  | No            |                  1 | On Loan: No      |
| Samsung Electro-Mechanics Co Ltd                       | Samsung Electro-Mechanics Co Ltd                       | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | KR        |      1488 | NS      | $263399.40    | 0.46%             |  |  |  | No            |                  1 | On Loan: No      |
| Samsung Electronics Co Ltd                             | Samsung Electronics Co Ltd                             | CUSIP: 000000000<br>LEI: 9884007ER46L6N7EI764 | Long             | EC               | CORP              | KR        |     42530 | NS      | $3539861.16   | 6.15%             |  |  |  | No            |                  1 | On Loan: No      |
| Samyang Foods Co Ltd                                   | Samyang Foods Co Ltd                                   | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | KR        |       228 | NS      | $194833.92    | 0.34%             |  |  |  | No            |                  1 | On Loan: No      |
| Hanwha Aerospace Co Ltd                                | Hanwha Aerospace Co Ltd                                | CUSIP: 000000000<br>LEI: 9884001NSUA8FQKQWR25 | Long             | EC               | CORP              | KR        |       965 | NS      | $630359.93    | 1.09%             |  |  |  | No            |                  1 | On Loan: No      |
| Taiwan Semiconductor Manufacturing Co Ltd              | Taiwan Semiconductor Manufacturing Co Ltd              | CUSIP: 000000000<br>LEI: 549300KB6NK5SBD14S87 | Long             | EC               | CORP              | TW        |    103000 | NS      | $5081077.64   | 8.82%             |  |  |  | No            |                  1 | On Loan: No      |
| OTP Bank Nyrt                                          | OTP Bank Nyrt                                          | CUSIP: 000000000<br>LEI: 529900W3MOO00A18X956 | Long             | EC               | CORP              | HU        |      5977 | NS      | $641510.11    | 1.11%             |  |  |  | No            |                  1 | On Loan: No      |
| Sea Ltd                                                | Sea Ltd                                                | CUSIP: 81141R100<br>LEI: 529900OM6JLLW44YKI15 | Long             | EC               | CORP              | KY        |      8338 | NS      | $1063678.66   | 1.85%             |  |  |  | No            |                  1 | On Loan: No      |
| Fixed Income Clearing Corp                             | FIXED INC CLEARING CORP.REPO                           | CUSIP: 000000000<br>LEI: 549300H47WTHXPU08X20 | Long             | RA               | CORP              | US        |    289975 | PA      | $289974.75    | 0.50%             |  |  |  | No            |                  2 | On Loan: No      |
| Taiwan Semiconductor Manufacturing Co Ltd              | Taiwan Semiconductor Manufacturing Co Ltd              | CUSIP: 874039100<br>LEI: 549300KB6NK5SBD14S87 | Long             | EC               | CORP              | TW        |     15352 | NS      | $4665319.28   | 8.10%             |  |  |  | No            |                  1 | On Loan: No      |
| TVS MOTOR COMPANY                                      | TVS Motor Co Ltd                                       | CUSIP: 000000000<br>LEI: 335800URVL13UQEWM152 | Long             | EP               | CORP              | IN        |     37580 | NS      | $4181.16      | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| Samsung Biologics Co Ltd                               | Samsung Biologics Co Ltd                               | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | KR        |       261 | NS      | $307101.45    | 0.53%             |  |  |  | Yes           |                  1 | On Loan: No      |
| Bharat Electronics Ltd                                 | Bharat Electronics Ltd                                 | CUSIP: 000000000<br>LEI: 335800HS8AOTM9W1F335 | Long             | EC               | CORP              | IN        |    133458 | NS      | $592754.66    | 1.03%             |  |  |  | No            |                  1 | On Loan: No      |
| HD Hyundai Electric Co Ltd                             | HD Hyundai Electric Co Ltd                             | CUSIP: 000000000<br>LEI: 988400CSDKM9UHLHGB91 | Long             | EC               | CORP              | KR        |      1231 | NS      | $661409.88    | 1.15%             |  |  |  | No            |                  1 | On Loan: No      |
| HDFC Asset Management Co Ltd                           | HDFC Asset Management Co Ltd                           | CUSIP: 000000000<br>LEI: 3358002FLK8AK8WSEP31 | Long             | EC               | CORP              | IN        |     10123 | NS      | $301281.77    | 0.52%             |  |  |  | No            |                  1 | On Loan: No      |
| Hitachi Energy India Ltd                               | Hitachi Energy India Ltd                               | CUSIP: 000000000<br>LEI: 549300ASJQYQLII9F213 | Long             | EC               | CORP              | IN        |      1011 | NS      | $205452.14    | 0.36%             |  |  |  | No            |                  1 | On Loan: No      |
| Eicher Motors Ltd                                      | Eicher Motors Ltd                                      | CUSIP: 000000000<br>LEI: 25490059S64CN2OY7239 | Long             | EC               | CORP              | IN        |      4433 | NS      | $360738.52    | 0.63%             |  |  |  | No            |                  1 | On Loan: No      |
| Cury Construtora e Incorporadora SA                    | Cury Construtora e Incorporadora SA                    | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | BR        |     50500 | NS      | $297023.59    | 0.52%             |  |  |  | No            |                  1 | On Loan: No      |
| Eternal Ltd                                            | Eternal Ltd                                            | CUSIP: 000000000<br>LEI: 335800T4VOF9ETHF8W59 | Long             | EC               | CORP              | IN        |    115912 | NS      | $358584.19    | 0.62%             |  |  |  | No            |                  1 | On Loan: No      |
| Lodha Developers Ltd                                   | Lodha Developers Ltd                                   | CUSIP: 000000000<br>LEI: 254900B5QCN52ETNU557 | Long             | EC               | CORP              | IN        |      6450 | NS      | $76140.36     | 0.13%             |  |  |  | Yes           |                  1 | On Loan: No      |
| HD Hyundai Heavy Industries Co Ltd                     | HD Hyundai Heavy Industries Co Ltd                     | CUSIP: 000000000<br>LEI: 988400CAR8W9URQLGF30 | Long             | EC               | CORP              | KR        |       975 | NS      | $344503.84    | 0.60%             |  |  |  | No            |                  1 | On Loan: No      |
| Kfin Technologies Ltd                                  | Kfin Technologies Ltd                                  | CUSIP: 000000000<br>LEI: 335800GNCGJJ76Z17N17 | Long             | EC               | CORP              | IN        |     13646 | NS      | $164305.74    | 0.29%             |  |  |  | No            |                  1 | On Loan: No      |
| Hindustan Aeronautics Ltd                              | Hindustan Aeronautics Ltd                              | CUSIP: 000000000<br>LEI: 335800AKDC7T933T3I86 | Long             | EC               | CORP              | IN        |      8035 | NS      | $392097.74    | 0.68%             |  |  |  | Yes           |                  1 | On Loan: No      |
| Parkin Co PJSC                                         | Parkin Co PJSC                                         | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | AE        |     98000 | NS      | $151826.29    | 0.26%             |  |  |  | No            |                  1 | On Loan: No      |
| HD Hyundai Marine Solution Co Ltd                      | HD Hyundai Marine Solution Co Ltd                      | CUSIP: 000000000<br>LEI: 988400NV4TGR7O3GJM74 | Long             | EC               | CORP              | KR        |      1770 | NS      | $237752.94    | 0.41%             |  |  |  | No            |                  1 | On Loan: No      |
| 99 Speed Mart Retail Holdings Bhd                      | 99 Speed Mart Retail Holdings Bhd                      | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | MY        |    343400 | NS      | $322413.50    | 0.56%             |  |  |  | No            |                  1 | On Loan: No      |
| Vishal Mega Mart Ltd                                   | Vishal Mega Mart Ltd                                   | CUSIP: 000000000<br>LEI: 335800AL4QPSIFSU3936 | Long             | EC               | CORP              | IN        |    105624 | NS      | $160411.35    | 0.28%             |  |  |  | No            |                  1 | On Loan: No      |
| Coforge Ltd                                            | Coforge Ltd                                            | CUSIP: 000000000<br>LEI: 3358004YL9JGBNP4KF72 | Long             | EC               | CORP              | IN        |      9808 | NS      | $181680.55    | 0.32%             |  |  |  | No            |                  1 | On Loan: No      |
| Naspers Ltd                                            | Naspers Ltd                                            | CUSIP: 000000000<br>LEI: 21380044BQ8812EEKT59 | Long             | EC               | CORP              | ZA        |     15539 | NS      | $1036411.89   | 1.80%             |  |  |  | No            |                  1 | On Loan: No      |
| Piraeus Bank SA                                        | Piraeus Bank SA                                        | CUSIP: 000000000<br>LEI: 213800OYHR1MPQ5VJL60 | Long             | EC               | CORP              | GR        |     48100 | NS      | $384045.25    | 0.67%             |  |  |  | No            |                  1 | On Loan: No      |
| Eurobank SA                                            | Eurobank SA                                            | CUSIP: 000000000<br>LEI: 213800KGF4EFNUQKAT69 | Long             | EC               | CORP              | GR        |    137485 | NS      | $553385.38    | 0.96%             |  |  |  | No            |                  1 | On Loan: No      |
| Bank Central Asia Tbk PT                               | Bank Central Asia Tbk PT                               | CUSIP: 000000000<br>LEI: 254900BR956G2OHVOM21 | Long             | EC               | CORP              | ID        |   1132200 | NS      | $548276.76    | 0.95%             |  |  |  | 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        |      3000 | NS      | $358046.50    | 0.62%             |  |  |  | No            |                  1 | On Loan: No      |
| Emaar Properties PJSC                                  | Emaar Properties PJSC                                  | CUSIP: 000000000<br>LEI: 254900YWYEXYXK1BMP81 | Long             | EC               | CORP              | AE        |     97356 | NS      | $372432.59    | 0.65%             |  |  |  | No            |                  1 | On Loan: No      |
| Aselsan Elektronik Sanayi Ve Ticaret AS                | Aselsan Elektronik Sanayi Ve Ticaret AS                | CUSIP: 000000000<br>LEI: 7890008XT4M710MU8714 | Long             | EC               | CORP              | TR        |     75240 | NS      | $406157.87    | 0.71%             |  |  |  | No            |                  1 | On Loan: No      |
| Powszechna Kasa Oszczednosci Bank Polski SA            | Powszechna Kasa Oszczednosci Bank Polski SA            | CUSIP: 000000000<br>LEI: P4GTT6GF1W40CVIMFR43 | Long             | EC               | CORP              | PL        |     16712 | NS      | $396432.85    | 0.69%             |  |  |  | No            |                  1 | On Loan: No      |
| Aldar Properties PJSC                                  | Aldar Properties PJSC                                  | CUSIP: 000000000<br>LEI: 98450048CD8AEF13B480 | Long             | EC               | CORP              | AE        |    120276 | NS      | $284909.45    | 0.49%             |  |  |  | No            |                  1 | On Loan: No      |
| Indian Hotels Co Ltd/The                               | Indian Hotels Co Ltd/The                               | CUSIP: 000000000<br>LEI: 33580076CH5SBY5HWA22 | Long             | EC               | CORP              | IN        |     46389 | NS      | $380616.34    | 0.66%             |  |  |  | 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        |      7722 | NS      | $187971.64    | 0.33%             |  |  |  | No            |                  1 | On Loan: No      |
| Emirates NBD Bank PJSC                                 | Emirates NBD Bank PJSC                                 | CUSIP: 000000000<br>LEI: 54930029BCN8HF3B1286 | Long             | EC               | CORP              | AE        |     34634 | NS      | $262625.25    | 0.46%             |  |  |  | No            |                  1 | On Loan: No      |
| Jentech Precision Industrial Co Ltd                    | Jentech Precision Industrial Co Ltd                    | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | TW        |      3000 | NS      | $262090.04    | 0.46%             |  |  |  | No            |                  1 | On Loan: No      |
| Benefit Systems SA                                     | Benefit Systems SA                                     | CUSIP: 000000000<br>LEI: 2594007UY43JEUOLID52 | Long             | EC               | CORP              | PL        |       255 | NS      | $249317.55    | 0.43%             |  |  |  | No            |                  1 | On Loan: No      |
| L&T Finance Ltd                                        | L&T Finance Ltd                                        | CUSIP: 000000000<br>LEI: 335800XGURT7JWGYNB41 | Long             | EC               | CORP              | IN        |     56860 | NS      | $199909.66    | 0.35%             |  |  |  | No            |                  1 | On Loan: No      |
| Bizlink Holding Inc                                    | Bizlink Holding Inc                                    | CUSIP: 000000000<br>LEI: 213800YAKRFVU5XOX138 | Long             | EC               | CORP              | KY        |      9079 | NS      | $439206.25    | 0.76%             |  |  |  | No            |                  1 | On Loan: No      |
| Hanwha Engine                                          | Hanwha Engine                                          | CUSIP: 000000000<br>LEI: 9884003YHS5XI9WJAL96 | Long             | EC               | CORP              | KR        |      5573 | NS      | $166159.00    | 0.29%             |  |  |  | No            |                  1 | On Loan: No      |
| Hyosung Heavy Industries Corp                          | Hyosung Heavy Industries Corp                          | CUSIP: 000000000<br>LEI: 988400IDLF9EQ95M0928 | Long             | EC               | CORP              | KR        |       320 | NS      | $395626.67    | 0.69%             |  |  |  | No            |                  1 | On Loan: No      |
| Wiwynn Corp                                            | Wiwynn Corp                                            | CUSIP: 000000000<br>LEI: 254900FV2R15PMKXFL69 | Long             | EC               | CORP              | TW        |      7000 | NS      | $999188.43    | 1.74%             |  |  |  | No            |                  1 | On Loan: No      |
| Hyundai Rotem Co Ltd                                   | Hyundai Rotem Co Ltd                                   | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | KR        |      2017 | NS      | $263090.00    | 0.46%             |  |  |  | No            |                  1 | On Loan: No      |
| Gentera SAB de CV                                      | Gentera SAB de CV                                      | CUSIP: 000000000<br>LEI: 4469000001ECOWXFNE33 | Long             | EC               | CORP              | MX        |     99100 | NS      | $252929.95    | 0.44%             |  |  |  | No            |                  1 | On Loan: No      |
| Salik Co PJSC                                          | Salik Co PJSC                                          | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | AE        |    156624 | NS      | $270795.02    | 0.47%             |  |  |  | No            |                  1 | On Loan: No      |
| HDFC Bank Ltd                                          | HDFC Bank Ltd                                          | CUSIP: 000000000<br>LEI: 335800ZQ6I4E2JXENC50 | Long             | EC               | CORP              | IN        |    114256 | NS      | $1262188.92   | 2.19%             |  |  |  | No            |                  1 | On Loan: No      |
| Optima bank SA                                         | Optima bank SA                                         | CUSIP: 000000000<br>LEI: 2138008NSD1X1XFUK750 | Long             | EC               | CORP              | GR        |     23315 | NS      | $211252.36    | 0.37%             |  |  |  | No            |                  1 | On Loan: No      |
| Max Healthcare Institute Ltd                           | Max Healthcare Institute Ltd                           | CUSIP: 000000000<br>LEI: 3358005LALYV4GZOYF67 | Long             | EC               | CORP              | IN        |     25182 | NS      | $292811.35    | 0.51%             |  |  |  | No            |                  1 | On Loan: No      |
| Rasan Information Technology Co                        | Rasan Information Technology Co                        | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | SA        |      6135 | NS      | $189571.96    | 0.33%             |  |  |  | No            |                  1 | On Loan: No      |
| SK Square Co Ltd                                       | SK Square Co Ltd                                       | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | KR        |      2755 | NS      | $703786.75    | 1.22%             |  |  |  | No            |                  1 | On Loan: No      |
| OUTsurance Group Ltd                                   | OUTsurance Group Ltd                                   | CUSIP: 000000000<br>LEI: 984500AC307E8L2D9X52 | Long             | EC               | CORP              | ZA        |     54517 | NS      | $235911.12    | 0.41%             |  |  |  | No            |                  1 | On Loan: No      |
| Shriram Finance Ltd                                    | Shriram Finance Ltd                                    | CUSIP: 000000000<br>LEI: 335800TM2YO24B76XL26 | Long             | EC               | CORP              | IN        |     19697 | NS      | $218447.94    | 0.38%             |  |  |  | No            |                  1 | On Loan: No      |
| ICICI Bank Ltd                                         | ICICI Bank Ltd                                         | CUSIP: 000000000<br>LEI: R7RX8ER1V4666J8D1I38 | Long             | EC               | CORP              | IN        |     69931 | NS      | $1044926.12   | 1.81%             |  |  |  | No            |                  1 | On Loan: No      |
| Bajaj Finance Ltd                                      | Bajaj Finance Ltd                                      | CUSIP: 000000000<br>LEI: 335800YTEXC3DO4Z6F68 | Long             | EC               | CORP              | IN        |     69777 | NS      | $765859.70    | 1.33%             |  |  |  | No            |                  1 | On Loan: No      |
| Embraer SA                                             | Embraer SA                                             | CUSIP: 000000000<br>LEI: 549300EM51WYXFHUY333 | Long             | EC               | CORP              | BR        |     18300 | NS      | $295885.76    | 0.51%             |  |  |  | No            |                  1 | On Loan: No      |
| UNO Minda Ltd                                          | UNO Minda Ltd                                          | CUSIP: 000000000<br>LEI: 335800Y2G59FEIQRLG14 | Long             | EC               | CORP              | IN        |     13669 | NS      | $194360.24    | 0.34%             |  |  |  | No            |                  1 | On Loan: No      |
| Banco BTG Pactual SA                                   | Banco BTG Pactual SA                                   | CUSIP: 000000000<br>LEI: ZXLTQRYIK6IJH3R0IK66 | Long             | EC               | CORP              | BR        |     67000 | NS      | $642886.99    | 1.12%             |  |  |  | No            |                  1 | On Loan: No      |
| Aura Minerals Inc                                      | Aura Minerals Inc                                      | CUSIP: 000000000<br>LEI: 549300YIRI8PSDM2FV20 | Long             | EC               | CORP              | VG        |      6998 | NS      | $352804.17    | 0.61%             |  |  |  | No            |                  1 | On Loan: No      |
| BBB Foods Inc                                          | BBB Foods Inc                                          | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | VG        |      6089 | NS      | $203311.71    | 0.35%             |  |  |  | No            |                  1 | On Loan: No      |
| Credicorp Ltd                                          | Credicorp Ltd                                          | CUSIP: 000000000<br>LEI: 529900UYAEYQCQ2BKB17 | Long             | EC               | CORP              | BM        |      1977 | NS      | $567399.00    | 0.99%             |  |  |  | No            |                  1 | On Loan: No      |
| Fabrinet                                               | Fabrinet                                               | CUSIP: 000000000<br>LEI: 5493004TETZ6IYF7CV44 | Long             | EC               | CORP              | KY        |      1051 | NS      | $478499.28    | 0.83%             |  |  |  | No            |                  1 | On Loan: No      |
| Grab Holdings Ltd                                      | Grab Holdings Ltd                                      | CUSIP: 000000000<br>LEI: 549300N4VQX83VPJF439 | Long             | EC               | CORP              | KY        |     75815 | NS      | $378316.85    | 0.66%             |  |  |  | No            |                  1 | On Loan: No      |
| NU Holdings Ltd/Cayman Islands                         | NU Holdings Ltd/Cayman Islands                         | CUSIP: 000000000<br>LEI: 5493002DG1RHWK9W2X27 | Long             | EC               | CORP              | KY        |     32596 | NS      | $545657.04    | 0.95%             |  |  |  | No            |                  1 | On Loan: No      |
| Millicom International Cellular SA                     | Millicom International Cellular SA                     | CUSIP: 000000000<br>LEI: 549300CTHC1CP86P2G96 | Long             | EC               | CORP              | LU        |      5059 | NS      | $280470.96    | 0.49%             |  |  |  | No            |                  1 | On Loan: No      |
| Banco Latinoamericano de Comercio Exterior SA          | Banco Latinoamericano de Comercio Exterior SA          | CUSIP: 000000000<br>LEI: 549300CN3134K4LC0651 | Long             | EC               | CORP              | PA        |      5228 | NS      | $233168.80    | 0.40%             |  |  |  | No            |                  1 | On Loan: No      |

### Signature

**Date Signed:** 2026-02-03

**Name of Applicant:** WILLIAM BLAIR FUNDS

**Signature:** John Raczek

**Name of Signer:** John Raczek

**Title:** Principal Financial Officer