# EDGAR Filing Document

**Accession Number:** 0000822632
**File Stem:** 0001752724-25-193294
**Filing Date:** 2025-8
**Character Count:** 47843
**Document Hash:** 6e57a6e44afe36463f00eca8751124ec
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001752724-25-193294.hdr.sgml**: 20250820

**ACCESSION NUMBER**: 0001752724-25-193294

**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:** 251234057

**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 Growth Fund (Series ID: S000008596)

| Class ID   | Class Name   | Ticker Symbol   |
|:---|:---|:---|
| C000023528 | Class N      | WBENX           |
| C000023529 | Class I      | WBEIX           |
| C000023530 | Class R6     | BIEMX           |

## 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 Growth Fund

- **b. EDGAR series identifier (if any):** S000008596

- **c. LEI of Series:** JIB9L3873X6222B3QS27

**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:** $917510897.98

**Total Liabilities:** $8159297.34

**Net Assets:** $909351600.64

**Cash Not Reported:** $1453326.96

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000023530 | 0.97%                | 6.46%                | 6.22%                |
| Class ID C000023529 | 1.06%                | 6.38%                | 6.30%                |
| Class ID C000023528 | 1.00%                | 6.46%                | 6.22%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $-10028260.91            | $20451510.59                               |
| Month 2  | $5051860.62              | $50106719.87                               |
| Month 3  | $16186033.67             | $38377852.17                               |

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| Jamjoom Pharmaceuticals Factory Co             | Jamjoom Pharmaceuticals Factory Co             | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | SA        |     43226 | NS      | $1996198.69   | 0.22%             |  |  |  | No            |                  1 | On Loan: No      |
| Hong Kong Exchanges & Clearing Ltd             | Hong Kong Exchanges & Clearing Ltd             | CUSIP: 000000000<br>LEI: 213800YTVSXYQN17BW16 | Long             | EC               | CORP              | HK        |    185800 | NS      | $9912552.31   | 1.09%             |  |  |  | No            |                  1 | On Loan: No      |
| Cholamandalam Investment and Finance Co Ltd    | Cholamandalam Investment and Finance Co Ltd    | CUSIP: 000000000<br>LEI: 3358008DNPV45O4EII52 | Long             | EC               | CORP              | IN        |    147231 | NS      | $2794916.84   | 0.31%             |  |  |  | No            |                  1 | On Loan: No      |
| Max Healthcare Institute Ltd                   | Max Healthcare Institute Ltd                   | CUSIP: 000000000<br>LEI: 3358005LALYV4GZOYF67 | Long             | EC               | CORP              | IN        |    352555 | NS      | $5241460.18   | 0.58%             |  |  |  | No            |                  1 | On Loan: No      |
| Xiaomi Corp                                    | Xiaomi Corp                                    | CUSIP: 000000000<br>LEI: 2549001ACVFAZRNMKL32 | Long             | EC               | CORP              | KY        |   3120000 | NS      | $23827412.91  | 2.62%             |  |  |  | Yes           |                  1 | On Loan: No      |
| East Money Information Co Ltd                  | East Money Information Co Ltd                  | CUSIP: 000000000<br>LEI: 836800ZFB0ZEK3KKW487 | Long             | EC               | CORP              | CN        |    712300 | NS      | $2301609.89   | 0.25%             |  |  |  | No            |                  1 | On Loan: No      |
| eMemory Technology Inc                         | eMemory Technology Inc                         | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | TW        |     29000 | NS      | $2342872.79   | 0.26%             |  |  |  | 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        |    770500 | NS      | $2120009.33   | 0.23%             |  |  |  | No            |                  1 | On Loan: No      |
| Eternal Ltd                                    | Eternal Ltd                                    | CUSIP: 000000000<br>LEI: 335800T4VOF9ETHF8W59 | Long             | EC               | CORP              | IN        |    964629 | NS      | $2968911.20   | 0.33%             |  |  |  | No            |                  1 | On Loan: No      |
| Fixed Income Clearing Corp                     | FIXED INC CLEARING CORP.REPO                   | CUSIP: 000000000<br>LEI: 549300H47WTHXPU08X20 | Long             | RA               | CORP              | US        |   7684439 | PA      | $7684438.57   | 0.85%             |  |  |  | No            |                  2 | On Loan: No      |
| Laopu Gold Co Ltd                              | Laopu Gold Co Ltd                              | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | CN        |     26900 | NS      | $3454187.61   | 0.38%             |  |  |  | No            |                  1 | On Loan: No      |
| Mixue Group                                    | Mixue Group                                    | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | CN        |     56900 | NS      | $3725705.26   | 0.41%             |  |  |  | No            |                  1 | On Loan: No      |
| ASMedia Technology Inc                         | ASMedia Technology Inc                         | CUSIP: 000000000<br>LEI: 529900CQG67FQMMNX678 | Long             | EC               | CORP              | TW        |     30000 | NS      | $1961522.66   | 0.22%             |  |  |  | No            |                  1 | On Loan: No      |
| BDO Unibank Inc                                | BDO Unibank Inc                                | CUSIP: 000000000<br>LEI: 3FGIIBS1PEI1FYQBGN97 | Long             | EC               | CORP              | PH        |   1973539 | NS      | $5353395.33   | 0.59%             |  |  |  | No            |                  1 | On Loan: No      |
| Abu Dhabi Islamic Bank PJSC                    | Abu Dhabi Islamic Bank PJSC                    | CUSIP: 000000000<br>LEI: 5493006DOLY8O98XHD74 | Long             | EC               | CORP              | AE        |    809501 | NS      | $4738951.02   | 0.52%             |  |  |  | No            |                  1 | On Loan: No      |
| Eicher Motors Ltd                              | Eicher Motors Ltd                              | CUSIP: 000000000<br>LEI: 25490059S64CN2OY7239 | Long             | EC               | CORP              | IN        |     44647 | NS      | $2936206.62   | 0.32%             |  |  |  | No            |                  1 | On Loan: No      |
| Dixon Technologies India Ltd                   | Dixon Technologies India Ltd                   | CUSIP: 000000000<br>LEI: 335800D7XO7AVXXJ8575 | Long             | EC               | CORP              | IN        |     17509 | NS      | $3060195.91   | 0.34%             |  |  |  | Yes           |                  1 | On Loan: No      |
| InterGlobe Aviation Ltd                        | InterGlobe Aviation Ltd                        | CUSIP: 000000000<br>LEI: 33580079R8SLLO23XD19 | Long             | EC               | CORP              | IN        |    103508 | NS      | $7195833.68   | 0.79%             |  |  |  | Yes           |                  1 | On Loan: No      |
| Piraeus Financial Holdings SA                  | Piraeus Financial Holdings SA                  | CUSIP: 000000000<br>LEI: M6AD1Y1KW32H8THQ6F76 | Long             | EC               | CORP              | GR        |    853176 | NS      | $5911405.42   | 0.65%             |  |  |  | No            |                  1 | On Loan: No      |
| Banco de Chile                                 | Banco de Chile                                 | CUSIP: 000000000<br>LEI: 8B4EZFY8IHJC44TT2K84 | Long             | EC               | CORP              | CL        |  27529935 | NS      | $4163657.95   | 0.46%             |  |  |  | No            |                  1 | On Loan: No      |
| BBB Foods Inc                                  | BBB Foods Inc                                  | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | VG        |    133103 | NS      | $3694939.28   | 0.41%             |  |  |  | No            |                  1 | On Loan: No      |
| Apollo Hospitals Enterprise Ltd                | Apollo Hospitals Enterprise Ltd                | CUSIP: 000000000<br>LEI: 3358005YT7JQCWYLTG43 | Long             | EC               | CORP              | IN        |     54158 | NS      | $4570844.26   | 0.50%             |  |  |  | No            |                  1 | On Loan: No      |
| Sea Ltd                                        | Sea Ltd                                        | CUSIP: 81141R100<br>LEI: 529900OM6JLLW44YKI15 | Long             | EC               | CORP              | KY        |    138703 | NS      | $22184157.82  | 2.44%             |  |  |  | No            |                  1 | On Loan: No      |
| BIM Birlesik Magazalar AS                      | BIM Birlesik Magazalar AS                      | CUSIP: 000000000<br>LEI: 7890001GCDJQD8DJKE29 | Long             | EC               | CORP              | TR        |    176475 | NS      | $2192765.95   | 0.24%             |  |  |  | No            |                  1 | On Loan: No      |
| Elm Co                                         | Elm Co                                         | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | SA        |      7530 | NS      | $2010743.90   | 0.22%             |  |  |  | No            |                  1 | On Loan: No      |
| Banco BTG Pactual SA                           | Banco BTG Pactual SA                           | CUSIP: 000000000<br>LEI: ZXLTQRYIK6IJH3R0IK66 | Long             | EC               | CORP              | BR        |    497000 | NS      | $3864874.57   | 0.43%             |  |  |  | No            |                  1 | On Loan: No      |
| Macrotech Developers Ltd                       | Macrotech Developers Ltd                       | CUSIP: 000000000<br>LEI: 254900B5QCN52ETNU557 | Long             | EC               | CORP              | IN        |    251098 | NS      | $4055162.43   | 0.45%             |  |  |  | Yes           |                  1 | On Loan: No      |
| Pidilite Industries Ltd                        | Pidilite Industries Ltd                        | CUSIP: 000000000<br>LEI: 335800APXGEBZ349GN74 | Long             | EC               | CORP              | IN        |     59635 | NS      | $2118864.37   | 0.23%             |  |  |  | No            |                  1 | On Loan: No      |
| Pop Mart International Group Ltd               | Pop Mart International Group Ltd               | CUSIP: 000000000<br>LEI: 9845000A05E8F937E337 | Long             | EC               | CORP              | KY        |    145800 | NS      | $4951659.56   | 0.54%             |  |  |  | Yes           |                  1 | On Loan: No      |
| Amber Enterprises India Ltd                    | Amber Enterprises India Ltd                    | CUSIP: 000000000<br>LEI: 3358009JZU4XT3666G06 | Long             | EC               | CORP              | IN        |     33230 | NS      | $2626123.19   | 0.29%             |  |  |  | No            |                  1 | On Loan: No      |
| Oberoi Realty Ltd                              | Oberoi Realty Ltd                              | CUSIP: 000000000<br>LEI: 335800TCKG1XQXN51L44 | Long             | EC               | CORP              | IN        |    100007 | NS      | $2234064.96   | 0.25%             |  |  |  | No            |                  1 | On Loan: No      |
| Hanwha Aerospace Co Ltd                        | Hanwha Aerospace Co Ltd                        | CUSIP: 000000000<br>LEI: 9884001NSUA8FQKQWR25 | Long             | EC               | CORP              | KR        |     13117 | NS      | $8241861.29   | 0.91%             |  |  |  | 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        |     16265 | NS      | $2476628.26   | 0.27%             |  |  |  | No            |                  1 | On Loan: No      |
| Lotes Co Ltd                                   | Lotes Co Ltd                                   | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | TW        |     51132 | NS      | $2363008.35   | 0.26%             |  |  |  | No            |                  1 | On Loan: No      |
| OPAP SA                                        | OPAP SA                                        | CUSIP: 000000000<br>LEI: 213800M4NRGFJCI34834 | Long             | EC               | CORP              | GR        |    122055 | NS      | $2767664.25   | 0.30%             |  |  |  | No            |                  1 | On Loan: No      |
| Divi's Laboratories Ltd                        | Divi's Laboratories Ltd                        | CUSIP: 000000000<br>LEI: 335800C1DHFG1C9T1M03 | Long             | EC               | CORP              | IN        |     51515 | NS      | $4101497.43   | 0.45%             |  |  |  | No            |                  1 | On Loan: No      |
| OTP Bank Nyrt                                  | OTP Bank Nyrt                                  | CUSIP: 000000000<br>LEI: 529900W3MOO00A18X956 | Long             | EC               | CORP              | HU        |    129248 | NS      | $10324457.70  | 1.14%             |  |  |  | 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        |    666304 | NS      | $2512244.29   | 0.28%             |  |  |  | No            |                  1 | On Loan: No      |
| Komercni Banka AS                              | Komercni Banka AS                              | CUSIP: 000000000<br>LEI: IYKCAVNFR8QGF00HV840 | Long             | EC               | CORP              | CZ        |     64790 | NS      | $3132963.80   | 0.34%             |  |  |  | No            |                  1 | On Loan: No      |
| MediaTek Inc                                   | MediaTek Inc                                   | CUSIP: 000000000<br>LEI: 254900UEGBK1I4DM4E14 | Long             | EC               | CORP              | TW        |    433000 | NS      | $18528344.52  | 2.04%             |  |  |  | No            |                  1 | On Loan: No      |
| Mr Price Group Ltd                             | Mr Price Group Ltd                             | CUSIP: 000000000<br>LEI: 378900D3417C35C5D733 | Long             | EC               | CORP              | ZA        |    157197 | NS      | $1966144.56   | 0.22%             |  |  |  | No            |                  1 | On Loan: No      |
| Samyang Foods Co Ltd                           | Samyang Foods Co Ltd                           | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | KR        |      3625 | NS      | $3746943.54   | 0.41%             |  |  |  | No            |                  1 | On Loan: No      |
| Godrej Properties Ltd                          | Godrej Properties Ltd                          | CUSIP: 000000000<br>LEI: 335800KM3Y5NZWXOE183 | Long             | EC               | CORP              | IN        |    108155 | NS      | $2949796.47   | 0.32%             |  |  |  | No            |                  1 | On Loan: No      |
| Elite Material Co Ltd                          | Elite Material Co Ltd                          | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | TW        |    228000 | NS      | $6884020.27   | 0.76%             |  |  |  | No            |                  1 | On Loan: No      |
| Sun Pharmaceutical Industries Ltd              | Sun Pharmaceutical Industries Ltd              | CUSIP: 000000000<br>LEI: 335800KJ7GE29LB4SS73 | Long             | EC               | CORP              | IN        |    137258 | NS      | $2680820.31   | 0.29%             |  |  |  | No            |                  1 | On Loan: No      |
| Hyundai Rotem Co Ltd                           | Hyundai Rotem Co Ltd                           | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | KR        |     38427 | NS      | $5594921.09   | 0.62%             |  |  |  | No            |                  1 | On Loan: No      |
| HDFC Bank Ltd                                  | HDFC Bank Ltd                                  | CUSIP: 000000000<br>LEI: 335800ZQ6I4E2JXENC50 | Long             | EC               | CORP              | IN        |    714598 | NS      | $16665065.30  | 1.83%             |  |  |  | No            |                  1 | On Loan: No      |
| Meitu Inc                                      | Meitu Inc                                      | CUSIP: 000000000<br>LEI: 529900P2POH56W116T02 | Long             | EC               | CORP              | KY        |   2566000 | NS      | $2951736.00   | 0.32%             |  |  |  | Yes           |                  1 | On Loan: No      |
| Kfin Technologies Ltd                          | Kfin Technologies Ltd                          | CUSIP: 000000000<br>LEI: 335800GNCGJJ76Z17N17 | Long             | EC               | CORP              | IN        |    207000 | NS      | $3253684.70   | 0.36%             |  |  |  | No            |                  1 | On Loan: No      |
| Coupang Inc                                    | Coupang Inc                                    | CUSIP: 22266T109<br>LEI: 549300XR4L1D80AK4W76 | Long             | EC               | CORP              | US        |    109365 | NS      | $3276575.40   | 0.36%             |  |  |  | No            |                  1 | On Loan: No      |
| Bharat Electronics Ltd                         | Bharat Electronics Ltd                         | CUSIP: 000000000<br>LEI: 335800HS8AOTM9W1F335 | Long             | EC               | CORP              | IN        |   1860878 | NS      | $9174197.98   | 1.01%             |  |  |  | No            |                  1 | On Loan: No      |
| HDFC Asset Management Co Ltd                   | HDFC Asset Management Co Ltd                   | CUSIP: 000000000<br>LEI: 3358002FLK8AK8WSEP31 | Long             | EC               | CORP              | IN        |     72606 | NS      | $4397336.33   | 0.48%             |  |  |  | No            |                  1 | On Loan: No      |
| Bank Central Asia Tbk PT                       | Bank Central Asia Tbk PT                       | CUSIP: 000000000<br>LEI: 254900BR956G2OHVOM21 | Long             | EC               | CORP              | ID        |  30252095 | NS      | $16164885.99  | 1.78%             |  |  |  | No            |                  1 | On Loan: No      |
| Computer Age Management Services Ltd           | Computer Age Management Services Ltd           | CUSIP: 000000000<br>LEI: 33580012MDHMBHWN5Z06 | Long             | EC               | CORP              | IN        |     50867 | NS      | $2548095.06   | 0.28%             |  |  |  | No            |                  1 | On Loan: No      |
| Hindustan Aeronautics Ltd                      | Hindustan Aeronautics Ltd                      | CUSIP: 000000000<br>LEI: 335800AKDC7T933T3I86 | Long             | EC               | CORP              | IN        |    121004 | NS      | $6882525.79   | 0.76%             |  |  |  | Yes           |                  1 | On Loan: No      |
| Coforge Ltd                                    | Coforge Ltd                                    | CUSIP: 000000000<br>LEI: 3358004YL9JGBNP4KF72 | Long             | EC               | CORP              | IN        |    132218 | NS      | $2960104.48   | 0.33%             |  |  |  | No            |                  1 | On Loan: No      |
| ASPEED Technology Inc                          | ASPEED Technology Inc                          | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | TW        |     42300 | NS      | $6870926.33   | 0.76%             |  |  |  | No            |                  1 | On Loan: No      |
| Arca Continental SAB de CV                     | Arca Continental SAB de CV                     | CUSIP: 000000000<br>LEI: 254900U2BSJCQHJCXN24 | Long             | EC               | CORP              | MX        |    240600 | NS      | $2549030.35   | 0.28%             |  |  |  | No            |                  1 | On Loan: No      |
| BSE Ltd                                        | BSE Ltd                                        | CUSIP: 000000000<br>LEI: 335800UOTLCPTZQVDA19 | Long             | EC               | CORP              | IN        |    105023 | NS      | $3397082.58   | 0.37%             |  |  |  | No            |                  1 | On Loan: No      |
| Fuyao Glass Industry Group Co Ltd              | Fuyao Glass Industry Group Co Ltd              | CUSIP: 000000000<br>LEI: 549300AS5CSLWETN0P64 | Long             | EC               | CORP              | CN        |    568500 | NS      | $4527668.77   | 0.50%             |  |  |  | No            |                  1 | On Loan: No      |
| Yutong Bus Co Ltd                              | Yutong Bus Co Ltd                              | CUSIP: 000000000<br>LEI: 300300OMPRVW0Q75F037 | Long             | EC               | CORP              | CN        |    645500 | NS      | $2241767.19   | 0.25%             |  |  |  | No            |                  1 | On Loan: No      |
| Budimex SA                                     | Budimex SA                                     | CUSIP: 000000000<br>LEI: 25940093SDJZW2C1V355 | Long             | EC               | CORP              | PL        |     14624 | NS      | $2260738.50   | 0.25%             |  |  |  | No            |                  1 | On Loan: No      |
| NetEase Inc                                    | NetEase Inc                                    | CUSIP: 000000000<br>LEI: 5299004AF4DSJDB0PA32 | Long             | EC               | CORP              | KY        |    447500 | NS      | $12028420.56  | 1.32%             |  |  |  | No            |                  1 | On Loan: No      |
| Samsung Biologics Co Ltd                       | Samsung Biologics Co Ltd                       | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | KR        |      5955 | NS      | $4377119.15   | 0.48%             |  |  |  | Yes           |                  1 | On Loan: No      |
| Emaar Properties PJSC                          | Emaar Properties PJSC                          | CUSIP: 000000000<br>LEI: 254900YWYEXYXK1BMP81 | Long             | EC               | CORP              | AE        |   2483398 | NS      | $9196267.71   | 1.01%             |  |  |  | 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        |    475600 | NS      | $4364281.70   | 0.48%             |  |  |  | No            |                  1 | On Loan: No      |
| Midea Group Co Ltd                             | Midea Group Co Ltd                             | CUSIP: 000000000<br>LEI: 3003003TRPHLHZD2IF61 | Long             | EC               | CORP              | CN        |    232600 | NS      | $2206010.23   | 0.24%             |  |  |  | No            |                  1 | On Loan: No      |
| Bharti Airtel Ltd                              | Bharti Airtel Ltd                              | CUSIP: 000000000<br>LEI: 335800KQ1FPKOQ84OR26 | Long             | EC               | CORP              | IN        |    538013 | NS      | $12601524.17  | 1.39%             |  |  |  | No            |                  1 | On Loan: No      |
| Vista Energy SAB de CV                         | Vista Energy SAB de CV                         | CUSIP: 92837L109<br>LEI: 549300UDOHP7958KNS89 | Long             | EC               | CORP              | MX        |     55694 | NS      | $2662730.14   | 0.29%             |  |  |  | No            |                  1 | On Loan: No      |
| Guming Holdings Ltd                            | Guming Holdings Ltd                            | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | KY        |    426400 | NS      | $1387845.78   | 0.15%             |  |  |  | No            |                  1 | On Loan: No      |
| Mahindra & Mahindra Ltd                        | Mahindra & Mahindra Ltd                        | CUSIP: 000000000<br>LEI: 3358003B573EV4KB4Z02 | Long             | EC               | CORP              | IN        |    232913 | NS      | $8633207.14   | 0.95%             |  |  |  | No            |                  1 | On Loan: No      |
| Aldar Properties PJSC                          | Aldar Properties PJSC                          | CUSIP: 000000000<br>LEI: 98450048CD8AEF13B480 | Long             | EC               | CORP              | AE        |   2709533 | NS      | $6580905.72   | 0.72%             |  |  |  | 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        |   3155996 | NS      | $10840543.58  | 1.19%             |  |  |  | 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        |   1104777 | NS      | $4184072.97   | 0.46%             |  |  |  | No            |                  1 | On Loan: No      |
| WEG SA                                         | WEG SA                                         | CUSIP: 000000000<br>LEI: 254900NKQV127YFRO022 | Long             | EC               | CORP              | BR        |    397241 | NS      | $3127858.86   | 0.34%             |  |  |  | No            |                  1 | On Loan: No      |
| YPF SA                                         | YPF SA                                         | CUSIP: 984245100<br>LEI: 5493003N7447U18U5U53 | Long             | EC               | CORP              | AR        |     73096 | NS      | $2298869.20   | 0.25%             |  |  |  | No            |                  1 | On Loan: No      |
| Riyadh Cables Group Co                         | Riyadh Cables Group Co                         | CUSIP: 000000000<br>LEI: 558600VWEJBGFYTZ1S78 | Long             | EC               | CORP              | SA        |     68170 | NS      | $2570120.78   | 0.28%             |  |  |  | No            |                  1 | On Loan: No      |
| Trip.com Group Ltd                             | Trip.com Group Ltd                             | CUSIP: 000000000<br>LEI: 2549004RMYDSRQL4KW41 | Long             | EC               | CORP              | KY        |    141750 | NS      | $8234192.57   | 0.91%             |  |  |  | No            |                  1 | On Loan: No      |
| Fomento Economico Mexicano SAB de CV           | Fomento Economico Mexicano SAB de CV           | CUSIP: 344419106<br>LEI: 549300A8MDWDJNMLV153 | Long             | EC               | CORP              | MX        |     43657 | NS      | $4495797.86   | 0.49%             |  |  |  | No            |                  1 | On Loan: No      |
| HD Hyundai Electric Co Ltd                     | HD Hyundai Electric Co Ltd                     | CUSIP: 000000000<br>LEI: 988400CSDKM9UHLHGB91 | Long             | EC               | CORP              | KR        |     15045 | NS      | $5651907.97   | 0.62%             |  |  |  | No            |                  1 | On Loan: No      |
| OUTsurance Group Ltd                           | OUTsurance Group Ltd                           | CUSIP: 000000000<br>LEI: 984500AC307E8L2D9X52 | Long             | EC               | CORP              | ZA        |    534871 | NS      | $2366529.43   | 0.26%             |  |  |  | No            |                  1 | On Loan: No      |
| Delta Electronics Inc                          | Delta Electronics Inc                          | CUSIP: 000000000<br>LEI: 529900UVZWNWGDLJSM52 | Long             | EC               | CORP              | TW        |    655000 | NS      | $9260406.68   | 1.02%             |  |  |  | No            |                  1 | On Loan: No      |
| Fabrinet                                       | Fabrinet                                       | CUSIP: 000000000<br>LEI: 5493004TETZ6IYF7CV44 | Long             | EC               | CORP              | KY        |      9457 | NS      | $2786788.76   | 0.31%             |  |  |  | No            |                  1 | On Loan: No      |
| Itau Unibanco Holding SA                       | Itau Unibanco Holding SA                       | CUSIP: 465562106<br>LEI: 5493002W2IVG62O3ZJ94 | Long             | EC               | CORP              | BR        |   1317570 | NS      | $8946300.30   | 0.98%             |  |  |  | No            |                  1 | On Loan: No      |
| Capitec Bank Holdings Ltd                      | Capitec Bank Holdings Ltd                      | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | ZA        |     61483 | NS      | $12332058.11  | 1.36%             |  |  |  | No            |                  1 | On Loan: No      |
| UNO Minda Ltd                                  | UNO Minda Ltd                                  | CUSIP: 000000000<br>LEI: 335800Y2G59FEIQRLG14 | Long             | EC               | CORP              | IN        |    226523 | NS      | $2908136.93   | 0.32%             |  |  |  | No            |                  1 | On Loan: No      |
| Hitachi Energy India Ltd                       | Hitachi Energy India Ltd                       | CUSIP: 000000000<br>LEI: 549300ASJQYQLII9F213 | Long             | EC               | CORP              | IN        |     12134 | NS      | $2825512.83   | 0.31%             |  |  |  | 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        |     66000 | NS      | $4597768.04   | 0.51%             |  |  |  | No            |                  1 | On Loan: No      |
| Giant Biogene Holding Co ltd                   | Giant Biogene Holding Co ltd                   | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | KY        |    288200 | NS      | $2118375.28   | 0.23%             |  |  |  | Yes           |                  1 | On Loan: No      |
| Wiwynn Corp                                    | Wiwynn Corp                                    | CUSIP: 000000000<br>LEI: 254900FV2R15PMKXFL69 | Long             | EC               | CORP              | TW        |     74000 | NS      | $6409010.00   | 0.70%             |  |  |  | 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        |    131731 | NS      | $3614461.48   | 0.40%             |  |  |  | No            |                  1 | On Loan: No      |
| CG Power & Industrial Solutions Ltd            | CG Power & Industrial Solutions Ltd            | CUSIP: 000000000<br>LEI: 335800KN5UTZKUZN2703 | Long             | EC               | CORP              | IN        |    334090 | NS      | $2653319.72   | 0.29%             |  |  |  | No            |                  1 | On Loan: No      |
| Accton Technology Corp                         | Accton Technology Corp                         | CUSIP: 000000000<br>LEI: 529900M1YRZ0GWMDF920 | Long             | EC               | CORP              | TW        |    287000 | NS      | $7172052.58   | 0.79%             |  |  |  | No            |                  1 | On Loan: No      |
| Gambol Pet Group Co Ltd                        | Gambol Pet Group Co Ltd                        | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | CN        |    183100 | NS      | $2797561.83   | 0.31%             |  |  |  | No            |                  1 | On Loan: No      |
| Falabella SA                                   | Falabella SA                                   | CUSIP: 000000000<br>LEI: 5493004CKJQ7H391LM41 | Long             | EC               | CORP              | CL        |    771198 | NS      | $4097603.76   | 0.45%             |  |  |  | No            |                  1 | On Loan: No      |
| Sieyuan Electric Co Ltd                        | Sieyuan Electric Co Ltd                        | CUSIP: 000000000<br>LEI: 836800H6UQQUWN4PSZ32 | Long             | EC               | CORP              | CN        |    191395 | NS      | $1949444.27   | 0.21%             |  |  |  | No            |                  1 | On Loan: No      |
| Alibaba Group Holding Ltd                      | Alibaba Group Holding Ltd                      | CUSIP: 000000000<br>LEI: 5493001NTNQJDH60PM02 | Long             | EC               | CORP              | KY        |   1946900 | NS      | $27231972.18  | 2.99%             |  |  |  | No            |                  1 | On Loan: No      |
| SK Hynix Inc                                   | SK Hynix Inc                                   | CUSIP: 000000000<br>LEI: 988400XAIK6XISWQV045 | Long             | EC               | CORP              | KR        |    171648 | NS      | $37137830.47  | 4.08%             |  |  |  | No            |                  1 | On Loan: No      |
| NU Holdings Ltd/Cayman Islands                 | NU Holdings Ltd/Cayman Islands                 | CUSIP: 000000000<br>LEI: 5493002DG1RHWK9W2X27 | Long             | EC               | CORP              | KY        |    264687 | NS      | $3631505.64   | 0.40%             |  |  |  | No            |                  1 | On Loan: No      |
| Grupo Financiero Galicia SA                    | Grupo Financiero Galicia SA                    | CUSIP: 399909100<br>LEI: 5299008H3AXIXV5G3C23 | Long             | EC               | CORP              | AR        |     90482 | NS      | $4559387.98   | 0.50%             |  |  |  | No            |                  1 | On Loan: No      |
| Advantech Co Ltd                               | Advantech Co Ltd                               | CUSIP: 000000000<br>LEI: 2549002OSTKE9HB9IY03 | Long             | EC               | CORP              | TW        |    191000 | NS      | $2223059.02   | 0.24%             |  |  |  | No            |                  1 | On Loan: No      |
| Clicks Group Ltd                               | Clicks Group Ltd                               | CUSIP: 000000000<br>LEI: 378900E967958A677472 | Long             | EC               | CORP              | ZA        |    110199 | NS      | $2309331.58   | 0.25%             |  |  |  | No            |                  1 | On Loan: No      |
| Indian Hotels Co Ltd/The                       | Indian Hotels Co Ltd/The                       | CUSIP: 000000000<br>LEI: 33580076CH5SBY5HWA22 | Long             | EC               | CORP              | IN        |    930811 | NS      | $8248248.83   | 0.91%             |  |  |  | No            |                  1 | On Loan: No      |
| Taiwan Semiconductor Manufacturing Co Ltd      | Taiwan Semiconductor Manufacturing Co Ltd      | CUSIP: 000000000<br>LEI: 549300KB6NK5SBD14S87 | Long             | EC               | CORP              | TW        |    539000 | NS      | $19558400.66  | 2.15%             |  |  |  | No            |                  1 | On Loan: No      |
| Embraer SA                                     | Embraer SA                                     | CUSIP: 000000000<br>LEI: 549300EM51WYXFHUY333 | Long             | EC               | CORP              | BR        |    521800 | NS      | $7396112.35   | 0.81%             |  |  |  | No            |                  1 | On Loan: No      |
| Credicorp Ltd                                  | Credicorp Ltd                                  | CUSIP: 000000000<br>LEI: 529900UYAEYQCQ2BKB17 | Long             | EC               | CORP              | BM        |     20811 | NS      | $4651674.72   | 0.51%             |  |  |  | No            |                  1 | On Loan: No      |
| Taiwan Semiconductor Manufacturing Co Ltd      | Taiwan Semiconductor Manufacturing Co Ltd      | CUSIP: 874039100<br>LEI: 549300KB6NK5SBD14S87 | Long             | EC               | CORP              | TW        |    434990 | NS      | $98520885.10  | 10.83%            |  |  |  | No            |                  1 | On Loan: No      |
| Salik Co PJSC                                  | Salik Co PJSC                                  | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | AE        |   2820254 | NS      | $4645901.19   | 0.51%             |  |  |  | No            |                  1 | On Loan: No      |
| Persistent Systems Ltd                         | Persistent Systems Ltd                         | CUSIP: 000000000<br>LEI: 3358006QYD77Z66S1J89 | Long             | EC               | CORP              | IN        |     21103 | NS      | $1488726.10   | 0.16%             |  |  |  | No            |                  1 | On Loan: No      |
| MercadoLibre Inc                               | MercadoLibre Inc                               | CUSIP: 58733R102<br>LEI: 549300DKPDN9M5S8GB14 | Long             | EC               | CORP              | US        |     11308 | NS      | $29554928.04  | 3.25%             |  |  |  | No            |                  1 | On Loan: No      |
| ICICI Bank Ltd                                 | ICICI Bank Ltd                                 | CUSIP: 000000000<br>LEI: R7RX8ER1V4666J8D1I38 | Long             | EC               | CORP              | IN        |   1165709 | NS      | $19695806.22  | 2.17%             |  |  |  | No            |                  1 | On Loan: No      |
| Bajaj Finance Ltd                              | Bajaj Finance Ltd                              | CUSIP: 000000000<br>LEI: 335800YTEXC3DO4Z6F68 | Long             | EC               | CORP              | IN        |   1182010 | NS      | $12914451.61  | 1.42%             |  |  |  | No            |                  1 | On Loan: No      |
| Bizlink Holding Inc                            | Bizlink Holding Inc                            | CUSIP: 000000000<br>LEI: 213800YAKRFVU5XOX138 | Long             | EC               | CORP              | KY        |    101000 | NS      | $2931945.78   | 0.32%             |  |  |  | No            |                  1 | On Loan: No      |
| Tencent Holdings Ltd                           | Tencent Holdings Ltd                           | CUSIP: 000000000<br>LEI: 254900N4SLUMW4XUYY11 | Long             | EC               | CORP              | KY        |    827660 | NS      | $53033838.43  | 5.83%             |  |  |  | No            |                  1 | On Loan: No      |
| Phoenix Mills Ltd/The                          | Phoenix Mills Ltd/The                          | CUSIP: 000000000<br>LEI: 33580037PCXCE5PNQU51 | Long             | EC               | CORP              | IN        |    114086 | NS      | $2079515.34   | 0.23%             |  |  |  | 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        |     27985 | NS      | $2023605.39   | 0.22%             |  |  |  | No            |                  1 | On Loan: No      |
| Bid Corp Ltd                                   | Bid Corp Ltd                                   | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | ZA        |     97326 | NS      | $2569686.77   | 0.28%             |  |  |  | No            |                  1 | On Loan: No      |
| International Container Terminal Services Inc  | International Container Terminal Services Inc  | CUSIP: 000000000<br>LEI: 254900FU1MWK0I0Q4J61 | Long             | EC               | CORP              | PH        |    626740 | NS      | $4572876.62   | 0.50%             |  |  |  | No            |                  1 | On Loan: No      |
| Eastroc Beverage Group Co Ltd                  | Eastroc Beverage Group Co Ltd                  | CUSIP: 000000000<br>LEI: 836800LQ338417RCIL29 | Long             | EC               | CORP              | CN        |     96740 | NS      | $4244221.28   | 0.47%             |  |  |  | No            |                  1 | On Loan: No      |
| Central Depository Services India Ltd          | Central Depository Services India Ltd          | CUSIP: 000000000<br>LEI: 335800YRV56TH7RQVH27 | Long             | EC               | CORP              | IN        |    145248 | NS      | $3041807.46   | 0.33%             |  |  |  | Yes           |                  1 | On Loan: No      |
| TVS Motor Co Ltd                               | TVS Motor Co Ltd                               | CUSIP: 000000000<br>LEI: 335800URVL13UQEWM152 | Long             | EC               | CORP              | IN        |     98374 | NS      | $3338819.98   | 0.37%             |  |  |  | No            |                  1 | On Loan: No      |
| Mao Geping Cosmetics Co LTD                    | Mao Geping Cosmetics Co LTD                    | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | CN        |    133500 | NS      | $1841801.54   | 0.20%             |  |  |  | No            |                  1 | On Loan: No      |
| Meituan                                        | Meituan                                        | CUSIP: 000000000<br>LEI: 21380033K525E5JLIA77 | Long             | EC               | CORP              | KY        |    570200 | NS      | $9101466.89   | 1.00%             |  |  |  | Yes           |                  1 | On Loan: No      |
| Grab Holdings Ltd                              | Grab Holdings Ltd                              | CUSIP: 000000000<br>LEI: 549300N4VQX83VPJF439 | Long             | EC               | CORP              | KY        |   1244967 | NS      | $6262184.01   | 0.69%             |  |  |  | No            |                  1 | On Loan: No      |
| BYD Co Ltd                                     | BYD Co Ltd                                     | CUSIP: 000000000<br>LEI: 5299005557VL7ULJ7A69 | Long             | EC               | CORP              | CN        |    788000 | NS      | $12296893.61  | 1.35%             |  |  |  | No            |                  1 | On Loan: No      |
| Shoprite Holdings Ltd                          | Shoprite Holdings Ltd                          | CUSIP: 000000000<br>LEI: 529900Q4O1EYP6NH5150 | Long             | EC               | CORP              | ZA        |    139892 | NS      | $2188411.46   | 0.24%             |  |  |  | No            |                  1 | On Loan: No      |
| MakeMyTrip Ltd                                 | MakeMyTrip Ltd                                 | CUSIP: 000000000<br>LEI: 529900DNT8HNJ7RYUO60 | Long             | EC               | CORP              | MU        |     41301 | NS      | $4048324.02   | 0.45%             |  |  |  | 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        |    294835 | NS      | $6154614.67   | 0.68%             |  |  |  | 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