# EDGAR Filing Document

**Accession Number:** 0000822632
**File Stem:** 0001410368-26-013318
**Filing Date:** 2026-2
**Character Count:** 48876
**Document Hash:** f3ae529aef6a35dd742f522f8f5ee241
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001410368-26-013318.hdr.sgml**: 20260218

**ACCESSION NUMBER**: 0001410368-26-013318

**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:** 26646318

**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 International Small Cap Growth Fund (Series ID: S000008595)

| Class ID   | Class Name   | Ticker Symbol   |
|:---|:---|:---|
| C000023525 | Class N      | WISNX           |
| C000023526 | Class I      | WISIX           |
| C000023527 | Class R6     | WIISX           |

## 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 International Small Cap Growth Fund

- **b. EDGAR series identifier (if any):** S000008595

- **c. LEI of Series:** GU7UOTN8SY5EBGM2UF12

**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:** $130704511.96

**Total Liabilities:** $452835.53

**Net Assets:** $130251676.43

**Cash Not Reported:** $37821.79

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000023525 | -2.33%               | -0.51%               | 1.03%                |
| Class ID C000023526 | -2.29%               | -0.50%               | 1.05%                |
| Class ID C000023527 | -2.28%               | -0.49%               | 1.10%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $4815902.64              | $-8074392.73                               |
| Month 2  | $490819.42               | $-1401283.01                               |
| Month 3  | $1408218.07              | $-123123.92                                |

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| Diploma PLC                                    | Diploma PLC                                    | CUSIP: 000000000<br>LEI: 2138008OGI7VYG8FGR19 | Long             | EC               | CORP              | GB        |     15923 | NS      | $1136487.87   | 0.87%             |  |  |  | No            |                  1 | On Loan: No      |
| Hill & Smith PLC                               | Hill & Smith PLC                               | CUSIP: 000000000<br>LEI: 2138003A3ISGQZBOWI83 | Long             | EC               | CORP              | GB        |     42068 | NS      | $1213499.45   | 0.93%             |  |  |  | No            |                  1 | On Loan: No      |
| Renishaw PLC                                   | Renishaw PLC                                   | CUSIP: 000000000<br>LEI: 21380048ADXM6Z67CT18 | Long             | EC               | CORP              | GB        |     13383 | NS      | $633190.72    | 0.49%             |  |  |  | No            |                  1 | On Loan: No      |
| BOYD GROUP INC                                 | BOYD GROUP INC                                 | CUSIP: 103310108<br>LEI: 549300FVHMLW88VSTP09 | Long             | EC               | CORP              | CA        |      7043 | NS      | $1121861.56   | 0.86%             |  |  |  | No            |                  1 | On Loan: No      |
| Definity Financial Corp                        | Definity Financial Corp                        | CUSIP: 24477T100<br>LEI: 984500D5F3FC49D00C44 | Long             | EC               | CORP              | CA        |     30877 | NS      | $1708127.65   | 1.31%             |  |  |  | No            |                  1 | On Loan: No      |
| Grupo Aeroportuario del Sureste SAB de CV      | Grupo Aeroportuario del Sureste SAB de CV      | CUSIP: 000000000<br>LEI: 5299001W7JIDXCUOUC82 | Long             | EC               | CORP              | MX        |     37555 | NS      | $1211520.23   | 0.93%             |  |  |  | No            |                  1 | On Loan: No      |
| Arca Continental SAB de CV                     | Arca Continental SAB de CV                     | CUSIP: 000000000<br>LEI: 254900U2BSJCQHJCXN24 | Long             | EC               | CORP              | MX        |    117100 | NS      | $1264803.55   | 0.97%             |  |  |  | No            |                  1 | On Loan: No      |
| Exchange Income Corp                           | Exchange Income Corp                           | CUSIP: 301283107<br>LEI: 549300G7SUZKHS2N8C38 | Long             | EC               | CORP              | CA        |     11217 | NS      | $669808.25    | 0.51%             |  |  |  | No            |                  1 | On Loan: No      |
| Garrett Motion Inc                             | Garrett Motion Inc                             | CUSIP: 366505105<br>LEI: 549300LS5WT7EMBNV724 | Long             | EC               | CORP              | US        |     41642 | NS      | $725820.06    | 0.56%             |  |  |  | No            |                  1 | On Loan: No      |
| K92 Mining Inc                                 | K92 Mining Inc                                 | CUSIP: 499113108<br>LEI: 254900EA8H0X9FEVZU11 | Long             | EC               | CORP              | CA        |     65659 | NS      | $1085426.91   | 0.83%             |  |  |  | No            |                  1 | On Loan: No      |
| FLSmidth & Co A/S                              | FLSmidth & Co A/S                              | CUSIP: 000000000<br>LEI: 213800MXXDGQ3ITPXI41 | Long             | EC               | CORP              | DK        |     15030 | NS      | $1052347.12   | 0.81%             |  |  |  | No            |                  1 | On Loan: No      |
| SOL SpA                                        | SOL SpA                                        | CUSIP: 000000000<br>LEI: 81560096A9AEBBBD4B25 | Long             | EC               | CORP              | IT        |     28600 | NS      | $1645244.73   | 1.26%             |  |  |  | No            |                  1 | On Loan: No      |
| MDA Space Ltd                                  | MDA Space Ltd                                  | CUSIP: 55293N109<br>LEI: N/A                  | Long             | EC               | CORP              | CA        |     25914 | NS      | $502968.17    | 0.39%             |  |  |  | No            |                  1 | On Loan: No      |
| Eckert & Ziegler SE                            | Eckert & Ziegler SE                            | CUSIP: 000000000<br>LEI: 391200EUDABLUKXCKG48 | Long             | EC               | CORP              | DE        |     28668 | NS      | $514119.06    | 0.39%             |  |  |  | No            |                  1 | On Loan: No      |
| CTS Eventim AG & Co KGaA                       | CTS Eventim AG & Co KGaA                       | CUSIP: 000000000<br>LEI: 529900FDHSN08UBJII80 | Long             | EC               | CORP              | DE        |     20796 | NS      | $1918497.53   | 1.47%             |  |  |  | No            |                  1 | On Loan: No      |
| Atoss Software SE                              | Atoss Software SE                              | CUSIP: 000000000<br>LEI: 529900Q9G9280ADNOA39 | Long             | EC               | CORP              | DE        |      3688 | NS      | $500159.47    | 0.38%             |  |  |  | No            |                  1 | On Loan: No      |
| Gillette India Ltd                             | Gillette India Ltd                             | CUSIP: 000000000<br>LEI: 3358002S2XZDSQKDGX30 | Long             | EC               | CORP              | IN        |      5732 | NS      | $531622.95    | 0.41%             |  |  |  | No            |                  1 | On Loan: No      |
| Oracle Corp Japan                              | Oracle Corp Japan                              | CUSIP: 000000000<br>LEI: 529900MIMKY9RU60Z323 | Long             | EC               | CORP              | JP        |     16300 | NS      | $1372554.90   | 1.05%             |  |  |  | No            |                  1 | On Loan: No      |
| DB Insurance Co Ltd                            | DB Insurance Co Ltd                            | CUSIP: 000000000<br>LEI: 9884000ZF26VNJBWSJ91 | Long             | EC               | CORP              | KR        |      7315 | NS      | $665715.53    | 0.51%             |  |  |  | No            |                  1 | On Loan: No      |
| Canon Marketing Japan Inc                      | Canon Marketing Japan Inc                      | CUSIP: 000000000<br>LEI: 529900WMTZBIIROD5K97 | Long             | EC               | CORP              | JP        |     34100 | NS      | $1497970.51   | 1.15%             |  |  |  | No            |                  1 | On Loan: No      |
| OBIC Business Consultants Co Ltd               | OBIC Business Consultants Co Ltd               | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | JP        |     34300 | NS      | $1850982.51   | 1.42%             |  |  |  | No            |                  1 | On Loan: No      |
| Catapult Sports Ltd                            | Catapult Sports Ltd                            | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | AU        |    307402 | NS      | $851350.65    | 0.65%             |  |  |  | No            |                  1 | On Loan: No      |
| Chroma ATE Inc                                 | Chroma ATE Inc                                 | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | TW        |     56000 | NS      | $1381263.82   | 1.06%             |  |  |  | No            |                  1 | On Loan: No      |
| Pro Medicus Ltd                                | Pro Medicus Ltd                                | CUSIP: 000000000<br>LEI: 98450085A903D1BMFF27 | Long             | EC               | CORP              | AU        |      5940 | NS      | $875541.75    | 0.67%             |  |  |  | No            |                  1 | On Loan: No      |
| Elite Material Co Ltd                          | Elite Material Co Ltd                          | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | TW        |     17000 | NS      | $890024.03    | 0.68%             |  |  |  | No            |                  1 | On Loan: No      |
| Organo Corp                                    | Organo Corp                                    | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | JP        |     15200 | NS      | $1257124.62   | 0.97%             |  |  |  | No            |                  1 | On Loan: No      |
| Kurita Water Industries Ltd                    | Kurita Water Industries Ltd                    | CUSIP: 000000000<br>LEI: 52990086GS2ON69UMX34 | Long             | EC               | CORP              | JP        |     18300 | NS      | $741626.66    | 0.57%             |  |  |  | No            |                  1 | On Loan: No      |
| North West Co Inc/The                          | North West Co Inc/The                          | CUSIP: 663278208<br>LEI: 254900VT1HQAZR3IVM76 | Long             | EC               | CORP              | CA        |     44502 | NS      | $1585802.21   | 1.22%             |  |  |  | No            |                  1 | On Loan: No      |
| Taiwan Union Technology Corp                   | Taiwan Union Technology Corp                   | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | TW        |     61000 | NS      | $959055.39    | 0.74%             |  |  |  | No            |                  1 | On Loan: No      |
| Katitas Co Ltd                                 | Katitas Co Ltd                                 | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | JP        |     31500 | NS      | $641502.81    | 0.49%             |  |  |  | No            |                  1 | On Loan: No      |
| Sanwa Holdings Corp                            | Sanwa Holdings Corp                            | CUSIP: 000000000<br>LEI: 5299003X6BCA4ROO5A70 | Long             | EC               | CORP              | JP        |     33500 | NS      | $872360.19    | 0.67%             |  |  |  | No            |                  1 | On Loan: No      |
| SWCC Corp                                      | SWCC Corp                                      | CUSIP: 000000000<br>LEI: 353800A7RNYOC4KL4T49 | Long             | EC               | CORP              | JP        |      9400 | NS      | $620505.62    | 0.48%             |  |  |  | No            |                  1 | On Loan: No      |
| Hansol Chemical Co Ltd                         | Hansol Chemical Co Ltd                         | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | KR        |      6240 | NS      | $985456.94    | 0.76%             |  |  |  | No            |                  1 | On Loan: No      |
| Tecan Group AG                                 | Tecan Group AG                                 | CUSIP: 000000000<br>LEI: 529900CSN9R3BLETSL26 | Long             | EC               | CORP              | CH        |      2806 | NS      | $455208.94    | 0.35%             |  |  |  | No            |                  1 | On Loan: No      |
| JUMBO SA                                       | JUMBO SA                                       | CUSIP: 000000000<br>LEI: 549300TGIVUUMY40MZ05 | Long             | EC               | CORP              | GR        |     42851 | NS      | $1405002.00   | 1.08%             |  |  |  | No            |                  1 | On Loan: No      |
| RaySearch Laboratories AB                      | RaySearch Laboratories AB                      | CUSIP: 000000000<br>LEI: 549300TYFVYGS0JFWM28 | Long             | EC               | CORP              | SE        |     32677 | NS      | $809249.55    | 0.62%             |  |  |  | No            |                  1 | On Loan: No      |
| Fixed Income Clearing Corp                     | FIXED INC CLEARING CORP.REPO                   | CUSIP: 000000000<br>LEI: 549300H47WTHXPU08X20 | Long             | RA               | CORP              | US        |   1423724 | PA      | $1423724.36   | 1.09%             |  |  |  | No            |                  2 | On Loan: No      |
| Karnov Group AB                                | Karnov Group AB                                | CUSIP: 000000000<br>LEI: 549300P7312749LJS754 | Long             | EC               | CORP              | SE        |     56292 | NS      | $615106.20    | 0.47%             |  |  |  | No            |                  1 | On Loan: No      |
| D'ieteren Group                                | D'ieteren Group                                | CUSIP: 000000000<br>LEI: 549300DV5KJ23OKVTW34 | Long             | EC               | CORP              | BE        |      8126 | NS      | $1469695.00   | 1.13%             |  |  |  | No            |                  1 | On Loan: No      |
| Brunello Cucinelli SpA                         | Brunello Cucinelli SpA                         | CUSIP: 000000000<br>LEI: 5493003CX2RZ0FOBH256 | Long             | EC               | CORP              | IT        |     15001 | NS      | $1735063.41   | 1.33%             |  |  |  | No            |                  1 | On Loan: No      |
| Mitac Holdings Corp                            | Mitac Holdings Corp                            | CUSIP: 000000000<br>LEI: 254900VPWYCPE8WTC337 | Long             | EC               | CORP              | TW        |    212000 | NS      | $582956.99    | 0.45%             |  |  |  | No            |                  1 | On Loan: No      |
| Prologis Property Mexico SA de CV              | Prologis Property Mexico SA de CV              | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               |  | MX        |    318115 | NS      | $1328813.57   | 1.02%             |  |  |  | No            |                  1 | On Loan: No      |
| Qualitas Controladora SAB de CV                | Qualitas Controladora SAB de CV                | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | MX        |     69800 | NS      | $721315.12    | 0.55%             |  |  |  | No            |                  1 | On Loan: No      |
| XPS Pensions Group PLC                         | XPS Pensions Group PLC                         | CUSIP: 000000000<br>LEI: 2138004Y8OBPJEAACJ11 | Long             | EC               | CORP              | GB        |     97151 | NS      | $443936.57    | 0.34%             |  |  |  | Yes           |                  1 | On Loan: No      |
| Galenica AG                                    | Galenica AG                                    | CUSIP: 000000000<br>LEI: 506700W4772BD8016Z20 | Long             | EC               | CORP              | CH        |     12146 | NS      | $1498124.23   | 1.15%             |  |  |  | Yes           |                  1 | On Loan: No      |
| Central Depository Services India Ltd          | Central Depository Services India Ltd          | CUSIP: 000000000<br>LEI: 335800YRV56TH7RQVH27 | Long             | EC               | CORP              | IN        |     28957 | NS      | $465770.08    | 0.36%             |  |  |  | Yes           |                  1 | On Loan: No      |
| AU Small Finance Bank Ltd                      | AU Small Finance Bank Ltd                      | CUSIP: 000000000<br>LEI: 3358006J6L5P5MWKCU97 | Long             | EC               | CORP              | IN        |    143544 | NS      | $1591323.95   | 1.22%             |  |  |  | Yes           |                  1 | On Loan: No      |
| Carel Industries SpA                           | Carel Industries SpA                           | CUSIP: 000000000<br>LEI: 815600115DA6E507AE33 | Long             | EC               | CORP              | IT        |     37004 | NS      | $1067608.32   | 0.82%             |  |  |  | Yes           |                  1 | On Loan: No      |
| Cury Construtora e Incorporadora SA            | Cury Construtora e Incorporadora SA            | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | BR        |     97600 | NS      | $574049.55    | 0.44%             |  |  |  | No            |                  1 | On Loan: No      |
| Home First Finance Co India Ltd                | Home First Finance Co India Ltd                | CUSIP: 000000000<br>LEI: 335800LHIN24IFBBN535 | Long             | EC               | CORP              | IN        |     43549 | NS      | $533464.28    | 0.41%             |  |  |  | Yes           |                  1 | On Loan: No      |
| Trustpilot Group PLC                           | Trustpilot Group PLC                           | CUSIP: 000000000<br>LEI: 2138002ILUNMGNPSGG46 | Long             | EC               | CORP              | GB        |    226725 | NS      | $502429.55    | 0.39%             |  |  |  | Yes           |                  1 | On Loan: No      |
| Allfunds Group Plc                             | Allfunds Group Plc                             | CUSIP: 000000000<br>LEI: 9598005U8TZQ8Q64SC71 | Long             | EC               | CORP              | GB        |    106202 | NS      | $1004085.10   | 0.77%             |  |  |  | No            |                  1 | On Loan: No      |
| Simplex Holdings Inc                           | Simplex Holdings Inc                           | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | JP        |     93200 | NS      | $625339.63    | 0.48%             |  |  |  | No            |                  1 | On Loan: No      |
| Dynavox Group AB                               | Dynavox Group AB                               | CUSIP: 000000000<br>LEI: 5493008X1XZR4R5R0P66 | Long             | EC               | CORP              | SE        |     50176 | NS      | $555906.37    | 0.43%             |  |  |  | No            |                  1 | On Loan: No      |
| Lifedrink Co Inc                               | Lifedrink Co Inc                               | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | JP        |     68000 | NS      | $754928.50    | 0.58%             |  |  |  | No            |                  1 | On Loan: No      |
| Saipem SpA                                     | Saipem SpA                                     | CUSIP: 000000000<br>LEI: 549300PHV8MBDHWB8X12 | Long             | EC               | CORP              | IT        |    197912 | NS      | $564021.49    | 0.43%             |  |  |  | No            |                  1 | On Loan: No      |
| Kfin Technologies Ltd                          | Kfin Technologies Ltd                          | CUSIP: 000000000<br>LEI: 335800GNCGJJ76Z17N17 | Long             | EC               | CORP              | IN        |     76620 | NS      | $922549.15    | 0.71%             |  |  |  | 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        |      4097 | NS      | $550324.18    | 0.42%             |  |  |  | No            |                  1 | On Loan: No      |
| AQ Group AB                                    | AQ Group AB                                    | CUSIP: 000000000<br>LEI: 549300CN568MD1JD3E40 | Long             | EC               | CORP              | SE        |     47078 | NS      | $1008394.24   | 0.77%             |  |  |  | No            |                  1 | On Loan: No      |
| Kardex Holding AG                              | Kardex Holding AG                              | CUSIP: 000000000<br>LEI: 529900JKKMQ07D6QZ480 | Long             | EC               | CORP              | CH        |      4431 | NS      | $1546738.42   | 1.19%             |  |  |  | No            |                  1 | On Loan: No      |
| Azimut Holding SpA                             | Azimut Holding SpA                             | CUSIP: 000000000<br>LEI: 81560025690EF8540635 | Long             | EC               | CORP              | IT        |     57757 | NS      | $2425889.16   | 1.86%             |  |  |  | No            |                  1 | On Loan: No      |
| Asahi Intecc Co Ltd                            | Asahi Intecc Co Ltd                            | CUSIP: 000000000<br>LEI: 353800J3AV2SCNIO8L39 | Long             | EC               | CORP              | JP        |     48300 | NS      | $905779.18    | 0.70%             |  |  |  | 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        |    205938 | NS      | $1111687.12   | 0.85%             |  |  |  | No            |                  1 | On Loan: No      |
| Internet Initiative Japan Inc                  | Internet Initiative Japan Inc                  | CUSIP: 000000000<br>LEI: 529900EOCJNAPUHDFR78 | Long             | EC               | CORP              | JP        |     76500 | NS      | $1350617.66   | 1.04%             |  |  |  | No            |                  1 | On Loan: No      |
| Sundaram Finance Ltd                           | Sundaram Finance Ltd                           | CUSIP: 000000000<br>LEI: 335800QM6HEH82BEJY45 | Long             | EC               | CORP              | IN        |     18132 | NS      | $1069226.24   | 0.82%             |  |  |  | No            |                  1 | On Loan: No      |
| QinetiQ Group PLC                              | QinetiQ Group PLC                              | CUSIP: 000000000<br>LEI: 213800S8OBDOZMCMUW34 | Long             | EC               | CORP              | GB        |    106576 | NS      | $634398.92    | 0.49%             |  |  |  | No            |                  1 | On Loan: No      |
| VusionGroup                                    | VusionGroup                                    | CUSIP: 000000000<br>LEI: 969500U51BYOMEW9M549 | Long             | EC               | CORP              | FR        |      5496 | NS      | $1318907.21   | 1.01%             |  |  |  | No            |                  1 | On Loan: No      |
| GMR Airports Ltd                               | GMR Airports Ltd                               | CUSIP: 000000000<br>LEI: 3358008S2MTRWZ255P70 | Long             | EC               | CORP              | IN        |    433156 | NS      | $502171.30    | 0.39%             |  |  |  | No            |                  1 | On Loan: No      |
| MonotaRO Co Ltd                                | MonotaRO Co Ltd                                | CUSIP: 000000000<br>LEI: 5299005JUER5ANXWTC33 | Long             | EC               | CORP              | JP        |     67100 | NS      | $1071141.15   | 0.82%             |  |  |  | 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        |     83800 | NS      | $1137436.96   | 0.87%             |  |  |  | No            |                  1 | On Loan: No      |
| Fukuoka Financial Group Inc                    | Fukuoka Financial Group Inc                    | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | JP        |     34800 | NS      | $1125712.46   | 0.86%             |  |  |  | No            |                  1 | On Loan: No      |
| SKY Perfect JSAT Holdings Inc                  | SKY Perfect JSAT Holdings Inc                  | CUSIP: 000000000<br>LEI: 5299009SAF34W9TVEF26 | Long             | EC               | CORP              | JP        |     77900 | NS      | $991653.47    | 0.76%             |  |  |  | No            |                  1 | On Loan: No      |
| Almirall SA                                    | Almirall SA                                    | CUSIP: 000000000<br>LEI: 95980020140005007996 | Long             | EC               | CORP              | ES        |     41953 | NS      | $633052.64    | 0.49%             |  |  |  | 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        |     17000 | NS      | $1485176.87   | 1.14%             |  |  |  | No            |                  1 | On Loan: No      |
| Gjensidige Forsikring ASA                      | Gjensidige Forsikring ASA                      | CUSIP: 000000000<br>LEI: 5967007LIEEXZX6FAO47 | Long             | EC               | CORP              | NO        |     47808 | NS      | $1432342.86   | 1.10%             |  |  |  | No            |                  1 | On Loan: No      |
| Benefit Systems SA                             | Benefit Systems SA                             | CUSIP: 000000000<br>LEI: 2594007UY43JEUOLID52 | Long             | EC               | CORP              | PL        |       755 | NS      | $738175.49    | 0.57%             |  |  |  | No            |                  1 | On Loan: No      |
| Bizlink Holding Inc                            | Bizlink Holding Inc                            | CUSIP: 000000000<br>LEI: 213800YAKRFVU5XOX138 | Long             | EC               | CORP              | KY        |     41000 | NS      | $1983418.47   | 1.52%             |  |  |  | No            |                  1 | On Loan: No      |
| ASPEED Technology Inc                          | ASPEED Technology Inc                          | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | TW        |      6000 | NS      | $1386356.04   | 1.06%             |  |  |  | No            |                  1 | On Loan: No      |
| Innodisk Corp                                  | Innodisk Corp                                  | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | TW        |     57000 | NS      | $1044922.90   | 0.80%             |  |  |  | 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        |     56622 | NS      | $1008194.30   | 0.77%             |  |  |  | No            |                  1 | On Loan: No      |
| Steadfast Group Ltd                            | Steadfast Group Ltd                            | CUSIP: 000000000<br>LEI: 9845003B6BEAA12DBD91 | Long             | EC               | CORP              | AU        |    314544 | NS      | $1108329.81   | 0.85%             |  |  |  | No            |                  1 | On Loan: No      |
| Italgas SpA                                    | Italgas SpA                                    | CUSIP: 000000000<br>LEI: 815600F25FF44EF1FA76 | Long             | EC               | CORP              | IT        |     76537 | NS      | $855838.88    | 0.66%             |  |  |  | No            |                  1 | On Loan: No      |
| Capricorn Metals Ltd                           | Capricorn Metals Ltd                           | CUSIP: 000000000<br>LEI: 529900CRG304NUYMOV23 | Long             | EC               | CORP              | AU        |    104972 | NS      | $1007363.11   | 0.77%             |  |  |  | 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        |    110000 | NS      | $1220856.74   | 0.94%             |  |  |  | No            |                  1 | On Loan: No      |
| Cholamandalam Financial Holdings Ltd           | Cholamandalam Financial Holdings Ltd           | CUSIP: 000000000<br>LEI: 335800WAHI1O38BILX22 | Long             | EC               | CORP              | IN        |     29140 | NS      | $588834.24    | 0.45%             |  |  |  | No            |                  1 | On Loan: No      |
| Bank Syariah Indonesia Tbk PT                  | Bank Syariah Indonesia Tbk PT                  | CUSIP: 000000000<br>LEI: 9845009CD3B814E04066 | Long             | EC               | CORP              | ID        |   2746800 | NS      | $367338.17    | 0.28%             |  |  |  | No            |                  1 | On Loan: No      |
| SIGMAXYZ Holdings Inc                          | SIGMAXYZ Holdings Inc                          | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | JP        |    109700 | NS      | $579874.87    | 0.45%             |  |  |  | No            |                  1 | On Loan: No      |
| Medacta Group SA                               | Medacta Group SA                               | CUSIP: 000000000<br>LEI: 506700P2PFU3A3DROC14 | Long             | EC               | CORP              | CH        |      4616 | NS      | $911428.36    | 0.70%             |  |  |  | Yes           |                  1 | On Loan: No      |
| JMDC Inc                                       | JMDC Inc                                       | CUSIP: 000000000<br>LEI: 3538002M2SQV6WJ6MQ67 | Long             | EC               | CORP              | JP        |     20900 | NS      | $531706.46    | 0.41%             |  |  |  | No            |                  1 | On Loan: No      |
| AZ-COM MARUWA Holdings Inc                     | AZ-COM MARUWA Holdings Inc                     | CUSIP: 000000000<br>LEI: 353800T8U9EBANSQUQ17 | Long             | EC               | CORP              | JP        |     38900 | NS      | $245111.72    | 0.19%             |  |  |  | No            |                  1 | On Loan: No      |
| Lifco AB                                       | Lifco AB                                       | CUSIP: 000000000<br>LEI: 549300RTLL4VDQRCTW41 | Long             | EC               | CORP              | SE        |     19138 | NS      | $731719.55    | 0.56%             |  |  |  | No            |                  1 | On Loan: No      |
| Mildef Group AB                                | Mildef Group AB                                | CUSIP: 000000000<br>LEI: 9845009F7Q0D56B38270 | Long             | EC               | CORP              | SE        |     52589 | NS      | $684316.75    | 0.53%             |  |  |  | No            |                  1 | On Loan: No      |
| Dassault Aviation SA                           | Dassault Aviation SA                           | CUSIP: 000000000<br>LEI: 969500CVFTUT88V8QN95 | Long             | EC               | CORP              | FR        |      5517 | NS      | $1775203.75   | 1.36%             |  |  |  | No            |                  1 | On Loan: No      |
| Lagercrantz Group AB                           | Lagercrantz Group AB                           | CUSIP: 000000000<br>LEI: 5493002L6I4YHANEYR87 | Long             | EC               | CORP              | SE        |     42154 | NS      | $974351.95    | 0.75%             |  |  |  | No            |                  1 | On Loan: No      |
| Qoria Ltd                                      | Qoria Ltd                                      | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | AU        |   1398833 | NS      | $546104.08    | 0.42%             |  |  |  | No            |                  1 | On Loan: No      |
| Lottomatica Group Spa                          | Lottomatica Group Spa                          | CUSIP: 000000000<br>LEI: 549300R72LKEGT4EX026 | Long             | EC               | CORP              | IT        |     27017 | NS      | $711208.47    | 0.55%             |  |  |  | No            |                  1 | On Loan: No      |
| Hensoldt AG                                    | Hensoldt AG                                    | CUSIP: 000000000<br>LEI: 894500686FYLLZD3M624 | Long             | EC               | CORP              | DE        |     12405 | NS      | $1070051.32   | 0.82%             |  |  |  | No            |                  1 | On Loan: No      |
| Volution Group PLC                             | Volution Group PLC                             | CUSIP: 000000000<br>LEI: 213800EPT84EQCDHO768 | Long             | EC               | CORP              | GB        |    168165 | NS      | $1462073.73   | 1.12%             |  |  |  | No            |                  1 | On Loan: No      |
| Next Vision Stabilized Systems Ltd             | Next Vision Stabilized Systems Ltd             | CUSIP: 000000000<br>LEI: 2549001OCAI48UYCZD40 | Long             | EC               | CORP              | IL        |     15794 | NS      | $1041013.83   | 0.80%             |  |  |  | No            |                  1 | On Loan: No      |
| OUTsurance Group Ltd                           | OUTsurance Group Ltd                           | CUSIP: 000000000<br>LEI: 984500AC307E8L2D9X52 | Long             | EC               | CORP              | ZA        |    218935 | NS      | $947396.26    | 0.73%             |  |  |  | No            |                  1 | On Loan: No      |
| Kokusai Electric Corp                          | Kokusai Electric Corp                          | CUSIP: 000000000<br>LEI: 549300CDY6N3WKYK2I96 | Long             | EC               | CORP              | JP        |     27200 | NS      | $954187.95    | 0.73%             |  |  |  | No            |                  1 | On Loan: No      |
| Beijer Ref AB                                  | Beijer Ref AB                                  | CUSIP: 000000000<br>LEI: 549300PZZEUVH08H4G75 | Long             | EC               | CORP              | SE        |     93553 | NS      | $1515098.28   | 1.16%             |  |  |  | No            |                  1 | On Loan: No      |
| Anycolor Inc                                   | Anycolor Inc                                   | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | JP        |     16700 | NS      | $517077.37    | 0.40%             |  |  |  | No            |                  1 | On Loan: No      |
| Yutong Bus Co Ltd                              | Yutong Bus Co Ltd                              | CUSIP: 000000000<br>LEI: 300300OMPRVW0Q75F037 | Long             | EC               | CORP              | CN        |    233600 | NS      | $1095031.39   | 0.84%             |  |  |  | No            |                  1 | On Loan: No      |
| Integral Corp                                  | Integral Corp                                  | CUSIP: 000000000<br>LEI: 254900LBW5E2GUM0UK59 | Long             | EC               | CORP              | JP        |     34500 | NS      | $731230.85    | 0.56%             |  |  |  | No            |                  1 | On Loan: No      |
| WuXi XDC Cayman Inc                            | WuXi XDC Cayman Inc                            | CUSIP: 000000000<br>LEI: 549300BV0TP5RVPBYO24 | Long             | EC               | CORP              | KY        |    108000 | NS      | $843023.63    | 0.65%             |  |  |  | No            |                  1 | On Loan: No      |
| Sectra AB                                      | Sectra AB                                      | CUSIP: 000000000<br>LEI: 549300R9ZBT8YSFFK266 | Long             | EC               | CORP              | SE        |     20718 | NS      | $564842.01    | 0.43%             |  |  |  | No            |                  1 | On Loan: No      |
| Rakuten Bank Ltd                               | Rakuten Bank Ltd                               | CUSIP: 000000000<br>LEI: 3538007HFAF2NOCBUE44 | Long             | EC               | CORP              | JP        |     28700 | NS      | $1266435.14   | 0.97%             |  |  |  | No            |                  1 | On Loan: No      |
| ITC Hotels Ltd                                 | ITC Hotels Ltd                                 | CUSIP: 000000000<br>LEI: 335800IFHF7F1488ND22 | Long             | EC               | CORP              | IN        |    243710 | NS      | $535390.08    | 0.41%             |  |  |  | No            |                  1 | On Loan: No      |
| Zabka Group SA                                 | Zabka Group SA                                 | CUSIP: 000000000<br>LEI: 549300TU2RZ35E4ET914 | Long             | EC               | CORP              | LU        |    176797 | NS      | $1127758.02   | 0.87%             |  |  |  | No            |                  1 | On Loan: No      |
| Rosebank Industries PLC                        | Rosebank Industries PLC                        | CUSIP: 000000000<br>LEI: 2138005KFPHBAEW69F51 | Long             | EC               | CORP              | JE        |    148644 | NS      | $701276.64    | 0.54%             |  |  |  | No            |                  1 | On Loan: No      |
| Hon Precision Inc                              | Hon Precision Inc                              | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | TW        |     16428 | NS      | $1790738.53   | 1.37%             |  |  |  | No            |                  1 | On Loan: No      |
| Bufab AB                                       | Bufab AB                                       | CUSIP: 000000000<br>LEI: 5493002TF62S16D67T17 | Long             | EC               | CORP              | SE        |    158561 | NS      | $1731917.03   | 1.33%             |  |  |  | No            |                  1 | On Loan: No      |
| WinWay Technology Co Ltd                       | WinWay Technology Co Ltd                       | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | TW        |      9000 | NS      | $813481.64    | 0.62%             |  |  |  | No            |                  1 | On Loan: No      |
| Rotork PLC                                     | Rotork PLC                                     | CUSIP: 000000000<br>LEI: 213800AH5RZIHGWRJ718 | Long             | EC               | CORP              | GB        |    339324 | NS      | $1488353.44   | 1.14%             |  |  |  | No            |                  1 | On Loan: No      |
| Zegona Communications plc                      | Zegona Communications plc                      | CUSIP: 000000000<br>LEI: 213800ASI1VZL2ED4S65 | Long             | EC               | CORP              | GB        |     55657 | NS      | $1046569.20   | 0.80%             |  |  |  | No            |                  1 | On Loan: No      |
| Enel Chile SA                                  | Enel Chile SA                                  | CUSIP: 000000000<br>LEI: 549300YM5CWCAUVOPB53 | Long             | EC               | CORP              | CL        |   1787436 | NS      | $146810.08    | 0.11%             |  |  |  | No            |                  1 | On Loan: No      |
| BayCurrent Inc                                 | BayCurrent Inc                                 | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | JP        |     21700 | NS      | $900472.42    | 0.69%             |  |  |  | No            |                  1 | On Loan: No      |
| Beazley PLC                                    | Beazley PLC                                    | CUSIP: 000000000<br>LEI: 213800VTOMUWD41GIT12 | Long             | EC               | CORP              | GB        |    141441 | NS      | $1586253.49   | 1.22%             |  |  |  | No            |                  1 | On Loan: No      |
| flatexDEGIRO AG                                | flatexDEGIRO AG                                | CUSIP: 000000000<br>LEI: 529900IRBZTADXJB6757 | Long             | EC               | CORP              | DE        |     41556 | NS      | $1794257.08   | 1.38%             |  |  |  | No            |                  1 | On Loan: No      |
| Softcat PLC                                    | Softcat PLC                                    | CUSIP: 000000000<br>LEI: 213800N42YZLR9GLVC42 | Long             | EC               | CORP              | GB        |     51062 | NS      | $975307.62    | 0.75%             |  |  |  | No            |                  1 | On Loan: No      |
| ATALAYA MINING COPPER SA                       | ATALAYA MINING COPPER SA                       | CUSIP: 000000000<br>LEI: 549300QNQPXVRXGXOX56 | Long             | EC               | CORP              | ES        |     51053 | NS      | $588384.64    | 0.45%             |  |  |  | No            |                  1 | On Loan: No      |
| Europris ASA                                   | Europris ASA                                   | CUSIP: 000000000<br>LEI: 5967007LIEEXZXGA8G28 | Long             | EC               | CORP              | NO        |     71036 | NS      | $675123.89    | 0.52%             |  |  |  | Yes           |                  1 | On Loan: No      |
| Medcap AB                                      | Medcap AB                                      | CUSIP: 000000000<br>LEI: 549300NGO5XAJ6TL8719 | Long             | EC               | CORP              | SE        |      9138 | NS      | $544915.22    | 0.42%             |  |  |  | No            |                  1 | On Loan: No      |
| Com7 PCL                                       | Com7 PCL                                       | CUSIP: 000000000<br>LEI: 984500C71C65E6KC5A42 | Long             | EC               | CORP              | TH        |    805800 | NS      | $501307.09    | 0.38%             |  |  |  | No            |                  2 | On Loan: No      |
| Aura Minerals Inc                              | Aura Minerals Inc                              | CUSIP: 000000000<br>LEI: 549300YIRI8PSDM2FV20 | Long             | EC               | CORP              | VG        |     14187 | NS      | $715237.61    | 0.55%             |  |  |  | No            |                  1 | On Loan: No      |
| Inter & Co Inc                                 | Inter & Co Inc                                 | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | KY        |    141781 | NS      | $1202302.88   | 0.92%             |  |  |  | No            |                  1 | On Loan: No      |
| Sportradar Group AG                            | Sportradar Group AG                            | CUSIP: 000000000<br>LEI: 549300H1P33YOAT7Z533 | Long             | EC               | CORP              | CH        |     50902 | NS      | $1209940.54   | 0.93%             |  |  |  | No            |                  1 | On Loan: No      |
| Cellebrite DI Ltd                              | Cellebrite DI Ltd                              | CUSIP: 000000000<br>LEI: 254900G03462YGP1IO36 | Long             | EC               | CORP              | IL        |     42754 | NS      | $770854.62    | 0.59%             |  |  |  | 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        |     17119 | NS      | $763507.40    | 0.59%             |  |  |  | No            |                  1 | On Loan: No      |
| Intercorp Financial Services Inc               | Intercorp Financial Services Inc               | CUSIP: 000000000<br>LEI: 5299004181WFTEWB1398 | Long             | EC               | CORP              | PA        |     23487 | NS      | $994909.32    | 0.76%             |  |  |  | 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