NPORT-P false 0000822632 XXXXXXXX S000008597 C000211717 C000023532 C000023531 WILLIAM BLAIR FUNDS 811-05344 0000822632 SNQR0U5FDV8EZZX4W051 150 NORTH RIVERSIDE PLAZA CHICAGO 60606 312-364-8000 William Blair Small Cap Value Fund S000008597 5493002FQGRSJB1RZB02 2020-12-31 2020-06-30 N 98999615.64 877664.27 98121951.37 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 N FTI Consulting Inc 549300K17GM8EQD0FQ48 302941109 13739.00000000 NS USD 1573802.45000000 1.603924940368 Long EC CORP US N 1 N N N CNX Resources Corp 549300JK3KH8PWM3B226 12653C108 57995.00000000 NS USD 501656.75000000 0.511258431977 Long EC CORP US N 1 N N N Adtalem Global Education Inc 549300Z467EZLMODV621 00737L103 31930.00000000 NS USD 994619.50000000 1.013656461284 Long EC CORP US N 1 N N N Terreno Realty Corp N/A 88146M101 26889.00000000 NS USD 1415436.96000000 1.442528343798 Long EC US N 1 N N N Dunkin' Brands Group Inc 549300311IRV47UCTO62 265504100 16100.00000000 NS USD 1050203.00000000 1.070303826347 Long EC CORP US N 1 N N N Selective Insurance Group Inc 549300R3WGJWLE40R258 816300107 32715.00000000 NS USD 1725389.10000000 1.758412950323 Long EC CORP US N 1 N N N Carpenter Technology Corp DX6I6ZD3X5WNNCDJKP85 144285103 36355.00000000 NS USD 882699.40000000 0.899594216865 Long EC CORP US N 1 N N N Brady Corp 549300G2LEQOFQC8GY34 104674106 53892.00000000 NS USD 2523223.44000000 2.571517794713 Long EC CORP US N 1 N N N Agree Realty Corp N/A 008492100 20415.00000000 NS USD 1341469.65000000 1.367145303645 Long EC US N 1 N N N Banc of California Inc 549300ZKWUJDP6LJ1X87 05990K106 72707.00000000 NS USD 787416.81000000 0.802487923452 Long EC CORP US N 1 N N N ESCO Technologies Inc 5493007JJLP5MEWVDH10 296315104 17454.00000000 NS USD 1475386.62000000 1.503625436918 Long EC CORP US N 1 N N N Healthcare Realty Trust Inc 549300CB86LH2IOKHH22 421946104 62401.00000000 NS USD 1827725.29000000 1.862707849243 Long EC US N 1 N N N Americold Realty Trust 549300R7N1V5YV8MWH02 03064D108 33785.00000000 NS USD 1226395.50000000 1.249868640886 Long EC US N 1 N N N Black Hills Corp 3MGELCRSTNSAMJ962671 092113109 24582.00000000 NS USD 1392816.12000000 1.419474542192 Long EC CORP US N 1 N N N Murphy USA Inc 549300Y081F8XIKQIO72 626755102 6510.00000000 NS USD 732960.90000000 0.746989730397 Long EC CORP US N 1 N N N J & J Snack Foods Corp N/A 466032109 7670.00000000 NS USD 975087.10000000 0.993750212246 Long EC CORP US N 1 N N N Simpson Manufacturing Co Inc 529900EJUNNL15LZ8056 829073105 17898.00000000 NS USD 1509875.28000000 1.538774207930 Long EC CORP US N 1 N N N Silgan Holdings Inc KAF673KJXD92C8KSLU49 827048109 42332.00000000 NS USD 1371133.48000000 1.397376897682 Long EC CORP US N 1 N N N Deckers Outdoor Corp 5493008LG4W3I6K8J118 243537107 6525.00000000 NS USD 1281444.75000000 1.305971530435 Long EC CORP US N 1 N N N Glacier Bancorp Inc 549300SMJAUKZB5D7V74 37637Q105 37339.00000000 NS USD 1317693.31000000 1.342913885835 Long EC CORP US N 1 N N N j2 Global Inc 5493008OJYGLHD7MXA18 48123V102 18272.00000000 NS USD 1154973.12000000 1.177079240551 Long EC CORP US N 1 N N N OceanFirst Financial Corp N/A 675234108 59417.00000000 NS USD 1047521.71000000 1.067571216607 Long EC CORP US N 1 N N N Saia Inc 549300WNPG4N9GBOYB29 78709Y105 13361.00000000 NS USD 1485475.98000000 1.513907906701 Long EC CORP US N 1 N N N FIXED INC CLEARING CORP.REPO 549300H47WTHXPU08X20 000000000 2127564.25000000 PA USD 2127564.25000000 2.168285710072 Long RA CORP US N 2 Repurchase N 0.00000000 2020-07-01 2016100.00000000 USD 2170130.04000000 USD UST N N N Integer Holdings Corp 549300SUD2ED5XG6X569 45826H109 23029.00000000 NS USD 1682268.45000000 1.714466973507 Long EC CORP US N 1 N N N HollyFrontier Corp 549300J3U2WK73C9ZK26 436106108 24565.00000000 NS USD 717298.00000000 0.731027043372 Long EC CORP US N 1 N N N Darling Ingredients Inc L1N0SPPKS7EXZYUMZ898 237266101 59876.00000000 NS USD 1474147.12000000 1.502362212958 Long EC CORP US N 1 N N N ONE Gas Inc 549300HXDWI0LATTX840 68235P108 22805.00000000 NS USD 1757125.25000000 1.790756528449 Long EC CORP US N 1 N N N Gibraltar Industries Inc N/A 374689107 31460.00000000 NS USD 1510394.60000000 1.539303467686 Long EC CORP US N 1 N N N CoreSite Realty Corp 549300H0YYORITFM2B74 21870Q105 7185.00000000 NS USD 869816.10000000 0.886464331228 Long EC US N 1 N N N FNB Corp/PA PCYSKIGYNYFDTBLVZU83 302520101 143203.00000000 NS USD 1074022.50000000 1.094579230237 Long EC CORP US N 1 N N N Semtech Corp 549300J7WUY317SW6O61 816850101 14141.00000000 NS USD 738443.02000000 0.752576777866 Long EC CORP US N 1 N N N Western Alliance Bancorp 5493003VJXZ5JXT9S762 957638109 40400.00000000 NS USD 1529948.00000000 1.559231118662 Long EC CORP US N 1 N N N Curtiss-Wright Corp TEL51ETZWP7D0ZM4X325 231561101 16973.00000000 NS USD 1515349.44000000 1.544353143045 Long EC CORP US N 1 N N N Archrock Inc 549300K3RIHMHDVFTL28 03957W106 127747.00000000 NS USD 829078.03000000 0.844946536859 Long EC CORP US N 1 N N N CNO Financial Group Inc 11XPYHB76MPM4Y4P2897 12621E103 80449.00000000 NS USD 1252590.93000000 1.276565449943 Long EC CORP US N 1 N N N IDACORP Inc N134NUJDWN8UEFA8B673 451107106 14463.00000000 NS USD 1263632.31000000 1.287818161335 Long EC CORP US N 1 N N N Helen of Troy Ltd N/A 000000000 6750.00000000 NS USD 1272780.00000000 1.297140937607 Long EC CORP BM N 1 N N N Minerals Technologies Inc 549300D3I1QU67GP6403 603158106 23954.00000000 NS USD 1124161.22000000 1.145677602518 Long EC CORP US N 1 N N N Hancock Whitney Corp 549300GRNBWY8HIICT41 410120109 63422.00000000 NS USD 1344546.40000000 1.370280942467 Long EC CORP US N 1 N N N Chesapeake Utilities Corp 254900WW0FDCKAOCKE74 165303108 2930.00000000 NS USD 246120.00000000 0.250830722956 Long EC CORP US N 1 N N N Brigham Minerals Inc 549300IQ6JCXW59RO175 10918L103 75155.00000000 NS USD 928164.25000000 0.945929261537 Long EC CORP US N 1 N N N CONMED Corp Z6C0YCECH9DCU5ZIQW84 207410101 24021.00000000 NS USD 1729271.79000000 1.762369954791 Long EC CORP US N 1 N N N Cactus Inc 549300J3T8C9F8QFKV08 127203107 26305.00000000 NS USD 542672.15000000 0.553058864426 Long EC CORP US N 1 N N N Sandy Spring Bancorp Inc N/A 800363103 41682.00000000 NS USD 1032879.96000000 1.052649224336 Long EC CORP US N 1 N N N BJ's Wholesale Club Holdings Inc 549300UCIWH1C93V0J03 05550J101 27765.00000000 NS USD 1034801.55000000 1.054607593460 Long EC CORP US N 1 N N N LiveRamp Holdings Inc 254900GXS75LG1X7RF88 53815P108 21924.00000000 NS USD 931112.28000000 0.948933716665 Long EC CORP US N 1 N N N PolyOne Corp SM8L9RZYIB34LNTWO040 73179P106 38273.00000000 NS USD 1003900.79000000 1.023115394652 Long EC CORP US N 1 N N N Life Storage Inc W9EE01AFDDF9DQCQZC68 53223X107 16050.00000000 NS USD 1523947.50000000 1.553115769430 Long EC US N 1 N N N Viavi Solutions Inc 5493006K3E3N1QOBF092 925550105 77817.00000000 NS USD 991388.58000000 1.010363701656 Long EC CORP US N 1 N N N Sensient Technologies Corp CMMZHMFZQG86EI7WZU92 81725T100 18990.00000000 NS USD 990518.40000000 1.009476866460 Long EC CORP US N 1 N N N MAXIMUS Inc 549300DQCDS8HJ7QF202 577933104 18177.00000000 NS USD 1280569.65000000 1.305079681070 Long EC CORP US N 1 N N N Horace Mann Educators Corp 254900G5YAV3A2YK8T32 440327104 34835.00000000 NS USD 1279489.55000000 1.303978908017 Long EC CORP US N 1 N N N Radian Group Inc 54930005OUP720S5U385 750236101 99958.00000000 NS USD 1550348.58000000 1.580022164616 Long EC CORP US N 1 N N N Zynga Inc N/A 98986T108 60995.00000000 NS USD 581892.30000000 0.593029685891 Long EC CORP US N 1 N N N Federal Signal Corp 549300RTXZRPTNP6G884 313855108 32839.00000000 NS USD 976303.47000000 0.994989863500 Long EC CORP US N 1 N N N Strategic Education Inc 0PYXF82EO1UCNGL5I740 86272C103 5585.00000000 NS USD 858135.25000000 0.874559910416 Long EC CORP US N 1 N N N Dril-Quip Inc 5299007REICYIJNMW197 262037104 11480.00000000 NS USD 341989.20000000 0.348534854051 Long EC CORP US N 1 N N N Renasant Corp 549300OVE6OZHW2UUH81 75970E107 40152.00000000 NS USD 999784.80000000 1.018920624835 Long EC CORP US N 1 N N N Encompass Health Corp 549300FVRPM9DRQZRG64 29261A100 30309.00000000 NS USD 1877036.37000000 1.912962740541 Long EC CORP US N 1 N N N National Bank Holdings Corp N/A 633707104 41179.00000000 NS USD 1111833.00000000 1.133113421080 Long EC CORP US N 1 N N N Carter's Inc 5299003WAQK4R3L3ZU36 146229109 10181.00000000 NS USD 821606.70000000 0.837332206023 Long EC CORP US N 1 N N N Hanover Insurance Group Inc/The JJYR6MFKFF6CF8DBZ078 410867105 14371.00000000 NS USD 1456213.43000000 1.484085273140 Long EC CORP US N 1 N N N Highwoods Properties Inc ZIIGTYKL9T0X3HLTDX53 431284108 29549.00000000 NS USD 1103064.17000000 1.124176756167 Long EC US N 1 N N N Casey's General Stores Inc 549300CAFWSI86V66Q65 147528103 4695.00000000 NS USD 701996.40000000 0.715432571609 Long EC CORP US N 1 N N N Inphi Corp 549300DCMERAAZFGT726 45772F107 6148.00000000 NS USD 722390.00000000 0.736216503966 Long EC CORP US N 1 N N N TopBuild Corp 5493007YSKHOL4RWII46 89055F103 11860.00000000 NS USD 1349312.20000000 1.375137959611 Long EC CORP US N 1 N N N Umpqua Holdings Corp 5299002ENJ7CY215BW86 904214103 100507.00000000 NS USD 1069394.48000000 1.089862630195 Long EC CORP US N 1 N N N Interpublic Group of Cos Inc/The 5493008IUOJ5VWTRC333 460690100 26795.00000000 NS USD 459802.20000000 0.468602788244 Long EC CORP US N 1 N N N PDC Energy Inc 5493008W8H2T511J5Y59 69327R101 45200.00000000 NS USD 562288.00000000 0.573050160692 Long EC CORP US N 1 N N N Banner Corp N/A 06652V208 27015.00000000 NS USD 1026570.00000000 1.046218492056 Long EC CORP US N 1 N N N Boston Private Financial Holdings Inc 9LC5YYBM83TLRL460X73 101119105 165828.00000000 NS USD 1140896.64000000 1.162733337515 Long EC CORP US N 1 N N N Cavco Industries Inc N/A 149568107 7162.00000000 NS USD 1381191.70000000 1.407627631447 Long EC CORP US N 1 N N N PacWest Bancorp 549300YI8VMFO7G36V04 695263103 52074.00000000 NS USD 1026378.54000000 1.046023367523 Long EC CORP US N 1 N N N PNM Resources Inc 5493003JOBJGLZSDDQ28 69349H107 38565.00000000 NS USD 1482438.60000000 1.510812391418 Long EC CORP US N 1 N N N Seacoast Banking Corp of Florida 549300V6IC06XYQYPG88 811707801 59525.00000000 NS USD 1214310.00000000 1.237551825096 Long EC CORP US N 1 N N N Perspecta Inc 549300XIT2GJKMZC0O65 715347100 39507.00000000 NS USD 917747.61000000 0.935313247633 Long EC CORP US N 1 N N N Watts Water Technologies Inc 549300REJOO94ERQN318 942749102 20863.00000000 NS USD 1689903.00000000 1.722247648365 Long EC CORP US N 1 N N N American Assets Trust Inc N/A 024013104 40306.00000000 NS USD 1122119.04000000 1.143596335307 Long EC US N 1 N N N UniFirst Corp/MA 5493003XBTNWBC8UK019 904708104 8383.00000000 NS USD 1500137.85000000 1.528850404068 Long EC CORP US N 1 N N N Magellan Health Inc N/A 559079207 14876.00000000 NS USD 1085650.48000000 1.106429769120 Long EC CORP US N 1 N N N First American Financial Corp 549300B6VEZK3N0A1P55 31847R102 15030.00000000 NS USD 721740.60000000 0.735554674487 Long EC CORP US N 1 N N N Home BancShares Inc/AR N/A 436893200 97368.00000000 NS USD 1497519.84000000 1.526182285504 Long EC CORP US N 1 N N N Monarch Casino & Resort Inc 549300AK5FF7KY11V997 609027107 16886.00000000 NS USD 575474.88000000 0.586489436833 Long EC CORP US N 1 N N N 2020-07-15 WILLIAM BLAIR FUNDS John Raczek John Raczek Principal Financial Officer