# EDGAR Filing Document

**Accession Number:** 0000822632
**File Stem:** 0001752724-25-193302
**Filing Date:** 2025-8
**Character Count:** 42277
**Document Hash:** 950ceeecdc2f8c66dca4b0e0a6c20669
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001752724-25-193302.hdr.sgml**: 20250820

**ACCESSION NUMBER**: 0001752724-25-193302

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 1

**CONFORMED PERIOD OF REPORT**: 20250630

**FILED AS OF DATE**: 20250820

**DATE AS OF CHANGE**: 20250820

**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:** 251234066

**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:** 2025-06-30

**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:** $37747552.05

**Total Liabilities:** $515386.55

**Net Assets:** $37232165.50

**Cash Not Reported:** $221917.12

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000234385 | 3.62%                | 6.76%                | 7.07%                |
| Class ID C000234384 | 3.63%                | 6.69%                | 7.09%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $-417089.23              | $1631487.54                                |
| Month 2  | $36252.16                | $2084471.40                                |
| Month 3  | $87891.09                | $2400322.24                                |

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| 99 Speed Mart Retail Holdings Bhd              | 99 Speed Mart Retail Holdings Bhd              | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | MY        |    301500 | NS      | $149658.00    | 0.40%             |  |  |  | No            |                  1 | On Loan: No      |
| Max Healthcare Institute Ltd                   | Max Healthcare Institute Ltd                   | CUSIP: 000000000<br>LEI: 3358005LALYV4GZOYF67 | Long             | EC               | CORP              | IN        |     19485 | NS      | $289684.88    | 0.78%             |  |  |  | No            |                  1 | On Loan: No      |
| eMemory Technology Inc                         | eMemory Technology Inc                         | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | TW        |      2500 | NS      | $201971.79    | 0.54%             |  |  |  | No            |                  1 | On Loan: No      |
| Corp Inmobiliaria Vesta SAB de CV              | Corp Inmobiliaria Vesta SAB de CV              | CUSIP: 000000000<br>LEI: 4469000001BIRIFZJ959 | Long             | EC               | CORP              | MX        |     89300 | NS      | $245706.47    | 0.66%             |  |  |  | No            |                  1 | On Loan: No      |
| Eternal Ltd                                    | Eternal Ltd                                    | CUSIP: 000000000<br>LEI: 335800T4VOF9ETHF8W59 | Long             | EC               | CORP              | IN        |     59228 | NS      | $182290.47    | 0.49%             |  |  |  | No            |                  1 | On Loan: No      |
| Pampa Energia SA                               | Pampa Energia SA                               | CUSIP: 697660207<br>LEI: 254900QNIK0CVURGML24 | Long             | EC               | CORP              | AR        |      2750 | NS      | $190795.00    | 0.51%             |  |  |  | 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        |      3003 | NS      | $121020.90    | 0.33%             |  |  |  | No            |                  1 | On Loan: No      |
| BDO Unibank Inc                                | BDO Unibank Inc                                | CUSIP: 000000000<br>LEI: 3FGIIBS1PEI1FYQBGN97 | Long             | EC               | CORP              | PH        |     84922 | NS      | $230358.27    | 0.62%             |  |  |  | No            |                  1 | On Loan: No      |
| Dixon Technologies India Ltd                   | Dixon Technologies India Ltd                   | CUSIP: 000000000<br>LEI: 335800D7XO7AVXXJ8575 | Long             | EC               | CORP              | IN        |      1207 | NS      | $210957.59    | 0.57%             |  |  |  | Yes           |                  1 | On Loan: No      |
| InterGlobe Aviation Ltd                        | InterGlobe Aviation Ltd                        | CUSIP: 000000000<br>LEI: 33580079R8SLLO23XD19 | Long             | EC               | CORP              | IN        |      6031 | NS      | $419272.64    | 1.13%             |  |  |  | Yes           |                  1 | On Loan: No      |
| Piraeus Financial Holdings SA                  | Piraeus Financial Holdings SA                  | CUSIP: 000000000<br>LEI: M6AD1Y1KW32H8THQ6F76 | Long             | EC               | CORP              | GR        |     17900 | NS      | $124023.83    | 0.33%             |  |  |  | No            |                  1 | On Loan: No      |
| Banco de Chile                                 | Banco de Chile                                 | CUSIP: 000000000<br>LEI: 8B4EZFY8IHJC44TT2K84 | Long             | EC               | CORP              | CL        |   1522401 | NS      | $230249.62    | 0.62%             |  |  |  | No            |                  1 | On Loan: No      |
| BBB Foods Inc                                  | BBB Foods Inc                                  | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | VG        |      6680 | NS      | $185436.80    | 0.50%             |  |  |  | No            |                  1 | On Loan: No      |
| Universal Microwave Technology Inc             | Universal Microwave Technology Inc             | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | TW        |      8000 | NS      | $98041.90     | 0.26%             |  |  |  | No            |                  1 | On Loan: No      |
| Apollo Hospitals Enterprise Ltd                | Apollo Hospitals Enterprise Ltd                | CUSIP: 000000000<br>LEI: 3358005YT7JQCWYLTG43 | Long             | EC               | CORP              | IN        |      1549 | NS      | $130733.00    | 0.35%             |  |  |  | No            |                  1 | On Loan: No      |
| Sea Ltd                                        | Sea Ltd                                        | CUSIP: 81141R100<br>LEI: 529900OM6JLLW44YKI15 | Long             | EC               | CORP              | KY        |      6060 | NS      | $969236.40    | 2.60%             |  |  |  | No            |                  1 | On Loan: No      |
| BIM Birlesik Magazalar AS                      | BIM Birlesik Magazalar AS                      | CUSIP: 000000000<br>LEI: 7890001GCDJQD8DJKE29 | Long             | EC               | CORP              | TR        |     13509 | NS      | $167854.23    | 0.45%             |  |  |  | No            |                  1 | On Loan: No      |
| Elm Co                                         | Elm Co                                         | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | SA        |       652 | NS      | $174104.25    | 0.47%             |  |  |  | No            |                  1 | On Loan: No      |
| Macrotech Developers Ltd                       | Macrotech Developers Ltd                       | CUSIP: 000000000<br>LEI: 254900B5QCN52ETNU557 | Long             | EC               | CORP              | IN        |     13142 | NS      | $212239.62    | 0.57%             |  |  |  | Yes           |                  1 | On Loan: No      |
| Amber Enterprises India Ltd                    | Amber Enterprises India Ltd                    | CUSIP: 000000000<br>LEI: 3358009JZU4XT3666G06 | Long             | EC               | CORP              | IN        |      2504 | NS      | $197887.83    | 0.53%             |  |  |  | No            |                  1 | On Loan: No      |
| Oberoi Realty Ltd                              | Oberoi Realty Ltd                              | CUSIP: 000000000<br>LEI: 335800TCKG1XQXN51L44 | Long             | EC               | CORP              | IN        |     10442 | NS      | $233264.73    | 0.63%             |  |  |  | No            |                  1 | On Loan: No      |
| Hanwha Aerospace Co Ltd                        | Hanwha Aerospace Co Ltd                        | CUSIP: 000000000<br>LEI: 9884001NSUA8FQKQWR25 | Long             | EC               | CORP              | KR        |       747 | NS      | $469365.74    | 1.26%             |  |  |  | No            |                  1 | On Loan: No      |
| HD Hyundai Marine Solution Co Ltd              | HD Hyundai Marine Solution Co Ltd              | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | KR        |      1369 | NS      | $208453.99    | 0.56%             |  |  |  | No            |                  1 | On Loan: No      |
| Trent Ltd                                      | Trent Ltd                                      | CUSIP: 000000000<br>LEI: 335800IYA8EHI7MW7G59 | Long             | EC               | CORP              | IN        |      3457 | NS      | $250023.82    | 0.67%             |  |  |  | No            |                  1 | On Loan: No      |
| OTP Bank Nyrt                                  | OTP Bank Nyrt                                  | CUSIP: 000000000<br>LEI: 529900W3MOO00A18X956 | Long             | EC               | CORP              | HU        |      5144 | NS      | $410907.79    | 1.10%             |  |  |  | No            |                  1 | On Loan: No      |
| Komercni Banka AS                              | Komercni Banka AS                              | CUSIP: 000000000<br>LEI: IYKCAVNFR8QGF00HV840 | Long             | EC               | CORP              | CZ        |      4421 | NS      | $213780.41    | 0.57%             |  |  |  | No            |                  1 | On Loan: No      |
| MediaTek Inc                                   | MediaTek Inc                                   | CUSIP: 000000000<br>LEI: 254900UEGBK1I4DM4E14 | Long             | EC               | CORP              | TW        |     22000 | NS      | $941393.95    | 2.53%             |  |  |  | No            |                  1 | On Loan: No      |
| Mr Price Group Ltd                             | Mr Price Group Ltd                             | CUSIP: 000000000<br>LEI: 378900D3417C35C5D733 | Long             | EC               | CORP              | ZA        |      9394 | NS      | $117495.64    | 0.32%             |  |  |  | No            |                  1 | On Loan: No      |
| Gentera SAB de CV                              | Gentera SAB de CV                              | CUSIP: 000000000<br>LEI: 4469000001ECOWXFNE33 | Long             | EC               | CORP              | MX        |     86800 | NS      | $185215.27    | 0.50%             |  |  |  | No            |                  1 | On Loan: No      |
| ABB India Ltd                                  | ABB India Ltd                                  | CUSIP: 000000000<br>LEI: 5493001BUNB8WEF9JI21 | Long             | EC               | CORP              | IN        |      1799 | NS      | $127645.93    | 0.34%             |  |  |  | No            |                  1 | On Loan: No      |
| Samyang Foods Co Ltd                           | Samyang Foods Co Ltd                           | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | KR        |       165 | NS      | $170550.53    | 0.46%             |  |  |  | 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        |     52500 | NS      | $285251.51    | 0.77%             |  |  |  | No            |                  1 | On Loan: No      |
| Elite Material Co Ltd                          | Elite Material Co Ltd                          | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | TW        |     10000 | NS      | $301930.71    | 0.81%             |  |  |  | No            |                  1 | On Loan: No      |
| Sun Pharmaceutical Industries Ltd              | Sun Pharmaceutical Industries Ltd              | CUSIP: 000000000<br>LEI: 335800KJ7GE29LB4SS73 | Long             | EC               | CORP              | IN        |      9893 | NS      | $193222.66    | 0.52%             |  |  |  | No            |                  1 | On Loan: No      |
| Hyundai Rotem Co Ltd                           | Hyundai Rotem Co Ltd                           | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | KR        |      1561 | NS      | $227279.56    | 0.61%             |  |  |  | No            |                  1 | On Loan: No      |
| HDFC Bank Ltd                                  | HDFC Bank Ltd                                  | CUSIP: 000000000<br>LEI: 335800ZQ6I4E2JXENC50 | Long             | EC               | CORP              | IN        |     34842 | NS      | $812546.64    | 2.18%             |  |  |  | No            |                  1 | On Loan: No      |
| Alchip Technologies Ltd                        | Alchip Technologies Ltd                        | CUSIP: 000000000<br>LEI: 529900HKE9RIY07SLX84 | Long             | EC               | CORP              | KY        |      1800 | NS      | $190709.30    | 0.51%             |  |  |  | No            |                  1 | On Loan: No      |
| Kfin Technologies Ltd                          | Kfin Technologies Ltd                          | CUSIP: 000000000<br>LEI: 335800GNCGJJ76Z17N17 | Long             | EC               | CORP              | IN        |     13676 | NS      | $214963.25    | 0.58%             |  |  |  | No            |                  1 | On Loan: No      |
| Millicom International Cellular SA             | Millicom International Cellular SA             | CUSIP: 000000000<br>LEI: 549300CTHC1CP86P2G96 | Long             | EC               | CORP              | LU        |      3430 | NS      | $128522.10    | 0.35%             |  |  |  | No            |                  1 | On Loan: No      |
| Kaynes Technology India Ltd                    | Kaynes Technology India Ltd                    | CUSIP: 000000000<br>LEI: 335800BMPIF3PQ2IPI37 | Long             | EC               | CORP              | IN        |      2216 | NS      | $157621.27    | 0.42%             |  |  |  | No            |                  1 | On Loan: No      |
| Zabka Group SA                                 | Zabka Group SA                                 | CUSIP: 000000000<br>LEI: 549300TU2RZ35E4ET914 | Long             | EC               | CORP              | LU        |     29010 | NS      | $174171.88    | 0.47%             |  |  |  | No            |                  1 | On Loan: No      |
| NTPC Ltd                                       | NTPC Ltd                                       | CUSIP: 000000000<br>LEI: 335800Q4TRGJXNLVMB81 | Long             | EC               | CORP              | IN        |     45898 | NS      | $179182.02    | 0.48%             |  |  |  | No            |                  1 | On Loan: No      |
| Bharat Electronics Ltd                         | Bharat Electronics Ltd                         | CUSIP: 000000000<br>LEI: 335800HS8AOTM9W1F335 | Long             | EC               | CORP              | IN        |    103262 | NS      | $509085.51    | 1.37%             |  |  |  | No            |                  1 | On Loan: No      |
| Advanced Info Service PCL                      | Advanced Info Service PCL                      | CUSIP: 000000000<br>LEI: 529900DU2YW1NO5RMU78 | Long             | EC               | CORP              | TH        |     14000 | NS      | $119721.61    | 0.32%             |  |  |  | No            |                  2 | On Loan: No      |
| HDFC Asset Management Co Ltd                   | HDFC Asset Management Co Ltd                   | CUSIP: 000000000<br>LEI: 3358002FLK8AK8WSEP31 | Long             | EC               | CORP              | IN        |      3916 | NS      | $237170.06    | 0.64%             |  |  |  | No            |                  1 | On Loan: No      |
| Bank Central Asia Tbk PT                       | Bank Central Asia Tbk PT                       | CUSIP: 000000000<br>LEI: 254900BR956G2OHVOM21 | Long             | EC               | CORP              | ID        |    992100 | NS      | $530118.11    | 1.42%             |  |  |  | No            |                  1 | On Loan: No      |
| Computer Age Management Services Ltd           | Computer Age Management Services Ltd           | CUSIP: 000000000<br>LEI: 33580012MDHMBHWN5Z06 | Long             | EC               | CORP              | IN        |      2639 | NS      | $132196.18    | 0.36%             |  |  |  | No            |                  1 | On Loan: No      |
| Hindustan Aeronautics Ltd                      | Hindustan Aeronautics Ltd                      | CUSIP: 000000000<br>LEI: 335800AKDC7T933T3I86 | Long             | EC               | CORP              | IN        |      6217 | NS      | $353613.62    | 0.95%             |  |  |  | Yes           |                  1 | On Loan: No      |
| Coforge Ltd                                    | Coforge Ltd                                    | CUSIP: 000000000<br>LEI: 3358004YL9JGBNP4KF72 | Long             | EC               | CORP              | IN        |      9906 | NS      | $221776.12    | 0.60%             |  |  |  | No            |                  1 | On Loan: No      |
| ASPEED Technology Inc                          | ASPEED Technology Inc                          | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | TW        |      1500 | NS      | $243649.87    | 0.65%             |  |  |  | No            |                  1 | On Loan: No      |
| Transformers & Rectifiers India Ltd            | Transformers & Rectifiers India Ltd            | CUSIP: 000000000<br>LEI: 335800CLAIFWDACD5H92 | Long             | EC               | CORP              | IN        |     26331 | NS      | $150291.80    | 0.40%             |  |  |  | No            |                  1 | On Loan: No      |
| BSE Ltd                                        | BSE Ltd                                        | CUSIP: 000000000<br>LEI: 335800UOTLCPTZQVDA19 | Long             | EC               | CORP              | IN        |      7207 | NS      | $233118.21    | 0.63%             |  |  |  | No            |                  1 | On Loan: No      |
| Naspers Ltd                                    | Naspers Ltd                                    | CUSIP: 000000000<br>LEI: 21380044BQ8812EEKT59 | Long             | EC               | CORP              | ZA        |       700 | NS      | $218076.17    | 0.59%             |  |  |  | No            |                  1 | On Loan: No      |
| Samsung Biologics Co Ltd                       | Samsung Biologics Co Ltd                       | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | KR        |       313 | NS      | $230065.20    | 0.62%             |  |  |  | Yes           |                  1 | On Loan: No      |
| Emaar Properties PJSC                          | Emaar Properties PJSC                          | CUSIP: 000000000<br>LEI: 254900YWYEXYXK1BMP81 | Long             | EC               | CORP              | AE        |    144281 | NS      | $534286.77    | 1.44%             |  |  |  | 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        |     49300 | NS      | $452395.05    | 1.22%             |  |  |  | No            |                  1 | On Loan: No      |
| Bharti Airtel Ltd                              | Bharti Airtel Ltd                              | CUSIP: 000000000<br>LEI: 335800KQ1FPKOQ84OR26 | Long             | EC               | CORP              | IN        |     28513 | NS      | $667841.22    | 1.79%             |  |  |  | No            |                  1 | On Loan: No      |
| Vista Energy SAB de CV                         | Vista Energy SAB de CV                         | CUSIP: 92837L109<br>LEI: 549300UDOHP7958KNS89 | Long             | EC               | CORP              | MX        |      3185 | NS      | $152274.85    | 0.41%             |  |  |  | No            |                  1 | On Loan: No      |
| Porto Seguro SA                                | Porto Seguro SA                                | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | BR        |     26600 | NS      | $270254.55    | 0.73%             |  |  |  | No            |                  1 | On Loan: No      |
| Benefit Systems SA                             | Benefit Systems SA                             | CUSIP: 000000000<br>LEI: 2594007UY43JEUOLID52 | Long             | EC               | CORP              | PL        |       197 | NS      | $173260.09    | 0.47%             |  |  |  | No            |                  1 | On Loan: No      |
| JB Financial Group Co Ltd                      | JB Financial Group Co Ltd                      | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | KR        |      9622 | NS      | $146511.63    | 0.39%             |  |  |  | No            |                  1 | On Loan: No      |
| Mahindra & Mahindra Ltd                        | Mahindra & Mahindra Ltd                        | CUSIP: 000000000<br>LEI: 3358003B573EV4KB4Z02 | Long             | EC               | CORP              | IN        |      9188 | NS      | $340564.53    | 0.91%             |  |  |  | No            |                  1 | On Loan: No      |
| Aldar Properties PJSC                          | Aldar Properties PJSC                          | CUSIP: 000000000<br>LEI: 98450048CD8AEF13B480 | Long             | EC               | CORP              | AE        |     75315 | NS      | $182924.85    | 0.49%             |  |  |  | No            |                  1 | On Loan: No      |
| Meritz Financial Group Inc                     | Meritz Financial Group Inc                     | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | KR        |      1840 | NS      | $153378.78    | 0.41%             |  |  |  | No            |                  1 | On Loan: No      |
| Retal Urban Development Co                     | Retal Urban Development Co                     | CUSIP: 000000000<br>LEI: 5586009EAJUMBXKV7452 | Long             | EC               | CORP              | SA        |     32467 | NS      | $136083.52    | 0.37%             |  |  |  | No            |                  1 | On Loan: No      |
| Eurobank Ergasias Services and Holdings SA     | Eurobank Ergasias Services and Holdings SA     | CUSIP: 000000000<br>LEI: JEUVK5RWVJEN8W0C9M24 | Long             | EC               | CORP              | GR        |    123318 | NS      | $423585.51    | 1.14%             |  |  |  | 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        |     58217 | NS      | $220482.66    | 0.59%             |  |  |  | No            |                  1 | On Loan: No      |
| WEG SA                                         | WEG SA                                         | CUSIP: 000000000<br>LEI: 254900NKQV127YFRO022 | Long             | EC               | CORP              | BR        |     21100 | NS      | $166140.51    | 0.45%             |  |  |  | No            |                  1 | On Loan: No      |
| YPF SA                                         | YPF SA                                         | CUSIP: 984245100<br>LEI: 5493003N7447U18U5U53 | Long             | EC               | CORP              | AR        |      6774 | NS      | $213042.30    | 0.57%             |  |  |  | No            |                  1 | On Loan: No      |
| Riyadh Cables Group Co                         | Riyadh Cables Group Co                         | CUSIP: 000000000<br>LEI: 558600VWEJBGFYTZ1S78 | Long             | EC               | CORP              | SA        |      4153 | NS      | $156574.91    | 0.42%             |  |  |  | No            |                  1 | On Loan: No      |
| HD Hyundai Electric Co Ltd                     | HD Hyundai Electric Co Ltd                     | CUSIP: 000000000<br>LEI: 988400CSDKM9UHLHGB91 | Long             | EC               | CORP              | KR        |      1304 | NS      | $489869.59    | 1.32%             |  |  |  | No            |                  1 | On Loan: No      |
| Banco BBVA Argentina SA                        | Banco BBVA Argentina SA                        | CUSIP: 058934100<br>LEI: 579100KKDBKJFDKKD024 | Long             | EC               | CORP              | AR        |     10235 | NS      | $168468.10    | 0.45%             |  |  |  | No            |                  1 | On Loan: No      |
| OUTsurance Group Ltd                           | OUTsurance Group Ltd                           | CUSIP: 000000000<br>LEI: 984500AC307E8L2D9X52 | Long             | EC               | CORP              | ZA        |     74532 | NS      | $329765.82    | 0.89%             |  |  |  | No            |                  1 | On Loan: No      |
| Delta Electronics Inc                          | Delta Electronics Inc                          | CUSIP: 000000000<br>LEI: 529900UVZWNWGDLJSM52 | Long             | EC               | CORP              | TW        |     16000 | NS      | $226208.41    | 0.61%             |  |  |  | No            |                  1 | On Loan: No      |
| Itau Unibanco Holding SA                       | Itau Unibanco Holding SA                       | CUSIP: 465562106<br>LEI: 5493002W2IVG62O3ZJ94 | Long             | EC               | CORP              | BR        |     68654 | NS      | $466160.66    | 1.25%             |  |  |  | No            |                  1 | On Loan: No      |
| Capitec Bank Holdings Ltd                      | Capitec Bank Holdings Ltd                      | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | ZA        |      2494 | NS      | $500238.32    | 1.34%             |  |  |  | No            |                  1 | On Loan: No      |
| UNO Minda Ltd                                  | UNO Minda Ltd                                  | CUSIP: 000000000<br>LEI: 335800Y2G59FEIQRLG14 | Long             | EC               | CORP              | IN        |     10576 | NS      | $135776.31    | 0.36%             |  |  |  | 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      | $208989.46    | 0.56%             |  |  |  | No            |                  1 | On Loan: No      |
| Plaza SA                                       | Plaza SA                                       | CUSIP: 000000000<br>LEI: 254900IOKBBI6NWAPK83 | Long             | EC               | CORP              | CL        |     25217 | NS      | $56268.46     | 0.15%             |  |  |  | No            |                  1 | On Loan: No      |
| Britannia Industries Ltd                       | Britannia Industries Ltd                       | CUSIP: 000000000<br>LEI: 335800RRN5EVHNNAXN80 | Long             | EC               | CORP              | IN        |      1867 | NS      | $126810.58    | 0.34%             |  |  |  | No            |                  1 | On Loan: No      |
| Wiwynn Corp                                    | Wiwynn Corp                                    | CUSIP: 000000000<br>LEI: 254900FV2R15PMKXFL69 | Long             | EC               | CORP              | TW        |      4800 | NS      | $415719.57    | 1.12%             |  |  |  | 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        |      8850 | NS      | $242828.07    | 0.65%             |  |  |  | No            |                  1 | On Loan: No      |
| Accton Technology Corp                         | Accton Technology Corp                         | CUSIP: 000000000<br>LEI: 529900M1YRZ0GWMDF920 | Long             | EC               | CORP              | TW        |     13000 | NS      | $324866.49    | 0.87%             |  |  |  | No            |                  1 | On Loan: No      |
| We Buy Cars Holdings Ltd                       | We Buy Cars Holdings Ltd                       | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | ZA        |     47576 | NS      | $160971.68    | 0.43%             |  |  |  | No            |                  1 | On Loan: No      |
| Falabella SA                                   | Falabella SA                                   | CUSIP: 000000000<br>LEI: 5493004CKJQ7H391LM41 | Long             | EC               | CORP              | CL        |     57440 | NS      | $305195.76    | 0.82%             |  |  |  | No            |                  1 | On Loan: No      |
| Bank Syariah Indonesia Tbk PT                  | Bank Syariah Indonesia Tbk PT                  | CUSIP: 000000000<br>LEI: 9845009CD3B814E04066 | Long             | EC               | CORP              | ID        |   1492900 | NS      | $237245.58    | 0.64%             |  |  |  | No            |                  1 | On Loan: No      |
| SK Hynix Inc                                   | SK Hynix Inc                                   | CUSIP: 000000000<br>LEI: 988400XAIK6XISWQV045 | Long             | EC               | CORP              | KR        |      7566 | NS      | $1636982.81   | 4.40%             |  |  |  | No            |                  1 | On Loan: No      |
| NU Holdings Ltd/Cayman Islands                 | NU Holdings Ltd/Cayman Islands                 | CUSIP: 000000000<br>LEI: 5493002DG1RHWK9W2X27 | Long             | EC               | CORP              | KY        |     16707 | NS      | $229220.04    | 0.62%             |  |  |  | No            |                  1 | On Loan: No      |
| Grupo Financiero Galicia SA                    | Grupo Financiero Galicia SA                    | CUSIP: 399909100<br>LEI: 5299008H3AXIXV5G3C23 | Long             | EC               | CORP              | AR        |      5488 | NS      | $276540.32    | 0.74%             |  |  |  | No            |                  1 | On Loan: No      |
| Advantech Co Ltd                               | Advantech Co Ltd                               | CUSIP: 000000000<br>LEI: 2549002OSTKE9HB9IY03 | Long             | EC               | CORP              | TW        |     10000 | NS      | $116390.52    | 0.31%             |  |  |  | No            |                  1 | On Loan: No      |
| Clicks Group Ltd                               | Clicks Group Ltd                               | CUSIP: 000000000<br>LEI: 378900E967958A677472 | Long             | EC               | CORP              | ZA        |     12419 | NS      | $260252.71    | 0.70%             |  |  |  | No            |                  1 | On Loan: No      |
| Indian Hotels Co Ltd/The                       | Indian Hotels Co Ltd/The                       | CUSIP: 000000000<br>LEI: 33580076CH5SBY5HWA22 | Long             | EC               | CORP              | IN        |     48241 | NS      | $427480.74    | 1.15%             |  |  |  | No            |                  1 | On Loan: No      |
| Taiwan Semiconductor Manufacturing Co Ltd      | Taiwan Semiconductor Manufacturing Co Ltd      | CUSIP: 000000000<br>LEI: 549300KB6NK5SBD14S87 | Long             | EC               | CORP              | TW        |     83000 | NS      | $3011775.98   | 8.09%             |  |  |  | No            |                  1 | On Loan: No      |
| Embraer SA                                     | Embraer SA                                     | CUSIP: 000000000<br>LEI: 549300EM51WYXFHUY333 | Long             | EC               | CORP              | BR        |     21400 | NS      | $303328.49    | 0.81%             |  |  |  | No            |                  1 | On Loan: No      |
| Taiwan Semiconductor Manufacturing Co Ltd      | Taiwan Semiconductor Manufacturing Co Ltd      | CUSIP: 874039100<br>LEI: 549300KB6NK5SBD14S87 | Long             | EC               | CORP              | TW        |     13199 | NS      | $2989441.51   | 8.03%             |  |  |  | No            |                  1 | On Loan: No      |
| Salik Co PJSC                                  | Salik Co PJSC                                  | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | AE        |    190067 | NS      | $313103.89    | 0.84%             |  |  |  | No            |                  1 | On Loan: No      |
| MercadoLibre Inc                               | MercadoLibre Inc                               | CUSIP: 58733R102<br>LEI: 549300DKPDN9M5S8GB14 | Long             | EC               | CORP              | US        |       379 | NS      | $990565.77    | 2.66%             |  |  |  | No            |                  1 | On Loan: No      |
| ICICI Bank Ltd                                 | ICICI Bank Ltd                                 | CUSIP: 000000000<br>LEI: R7RX8ER1V4666J8D1I38 | Long             | EC               | CORP              | IN        |     47619 | NS      | $804570.09    | 2.16%             |  |  |  | No            |                  1 | On Loan: No      |
| National Co for Learning & Education           | National Co for Learning & Education           | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | SA        |      3667 | NS      | $157317.77    | 0.42%             |  |  |  | No            |                  1 | On Loan: No      |
| Bajaj Finance Ltd                              | Bajaj Finance Ltd                              | CUSIP: 000000000<br>LEI: 335800YTEXC3DO4Z6F68 | Long             | EC               | CORP              | IN        |     53990 | NS      | $589886.08    | 1.58%             |  |  |  | No            |                  1 | On Loan: No      |
| Poly Medicure Ltd                              | Poly Medicure Ltd                              | CUSIP: 000000000<br>LEI: 335800XM9YRKFWFVXO61 | Long             | EC               | CORP              | IN        |      3975 | NS      | $103259.15    | 0.28%             |  |  |  | No            |                  1 | On Loan: No      |
| Phoenix Mills Ltd/The                          | Phoenix Mills Ltd/The                          | CUSIP: 000000000<br>LEI: 33580037PCXCE5PNQU51 | Long             | EC               | CORP              | IN        |      6637 | NS      | $120976.66    | 0.32%             |  |  |  | No            |                  1 | On Loan: No      |
| Dr Sulaiman Al Habib Medical Services Group Co | Dr Sulaiman Al Habib Medical Services Group Co | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | SA        |      1947 | NS      | $140788.27    | 0.38%             |  |  |  | No            |                  1 | On Loan: No      |
| International Container Terminal Services Inc  | International Container Terminal Services Inc  | CUSIP: 000000000<br>LEI: 254900FU1MWK0I0Q4J61 | Long             | EC               | CORP              | PH        |     44100 | NS      | $321766.38    | 0.86%             |  |  |  | No            |                  1 | On Loan: No      |
| Central Depository Services India Ltd          | Central Depository Services India Ltd          | CUSIP: 000000000<br>LEI: 335800YRV56TH7RQVH27 | Long             | EC               | CORP              | IN        |      9088 | NS      | $190322.39    | 0.51%             |  |  |  | Yes           |                  1 | On Loan: No      |
| TVS Motor Co Ltd                               | TVS Motor Co Ltd                               | CUSIP: 000000000<br>LEI: 335800URVL13UQEWM152 | Long             | EC               | CORP              | IN        |      5491 | NS      | $186364.90    | 0.50%             |  |  |  | No            |                  1 | On Loan: No      |
| Parkin Co PJSC                                 | Parkin Co PJSC                                 | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | AE        |     76217 | NS      | $134893.67    | 0.36%             |  |  |  | No            |                  1 | On Loan: No      |
| Grab Holdings Ltd                              | Grab Holdings Ltd                              | CUSIP: 000000000<br>LEI: 549300N4VQX83VPJF439 | Long             | EC               | CORP              | KY        |     58661 | NS      | $295064.83    | 0.79%             |  |  |  | No            |                  1 | On Loan: No      |
| KPJ Healthcare Bhd                             | KPJ Healthcare Bhd                             | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | MY        |    181700 | NS      | $114789.69    | 0.31%             |  |  |  | No            |                  1 | On Loan: No      |
| MakeMyTrip Ltd                                 | MakeMyTrip Ltd                                 | CUSIP: 000000000<br>LEI: 529900DNT8HNJ7RYUO60 | Long             | EC               | CORP              | MU        |      2171 | NS      | $212801.42    | 0.57%             |  |  |  | No            |                  1 | On Loan: No      |
| Coca-Cola Femsa SAB de CV                      | Coca-Cola Femsa SAB de CV                      | CUSIP: 191241108<br>LEI: 5493008KEVFYPMGTXO33 | Long             | EC               | CORP              | MX        |      1759 | NS      | $170148.07    | 0.46%             |  |  |  | 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        |     10033 | NS      | $209436.63    | 0.56%             |  |  |  | No            |                  1 | On Loan: No      |

### Signature

**Date Signed:** 2025-07-23

**Name of Applicant:** WILLIAM BLAIR FUNDS

**Signature:** John Raczek

**Name of Signer:** John Raczek

**Title:** Principal Financial Officer