NPORT-EX 2 OWSmandMidCapStrFund.htm
Old
Westbury
Funds,
Inc.
Small
&
Mid
Cap
Strategies
Fund
Portfolio
of
Investments
-
(Continued)
1
January
31,
2021
(Unaudited)
Old
Westbury
Funds,
Inc.
Small
&
Mid
Cap
Strategies
Fund
Portfolio
of
Investments
January
31,
2021
(Unaudited)
Shares
Value
COMMON
STOCKS
—
90.5%
ARGENTINA
—
0
.5
%
24,149
MercadoLibre,
Inc.
(a)
...........
$
42,973,387
AUSTRALIA
—
2
.0
%
25,036
Accent
Group
Ltd.
..............
43,979
362,533
Adairs
Ltd.
...................
1,000,749
867,582
Adbri
Ltd.
....................
1,891,173
587,263
Ansell
Ltd.
...................
16,415,957
4,821,440
Aurelia
Metals
Ltd.
.............
1,499,030
1,210,996
Austal
Ltd.
...................
2,363,341
543,740
Australian
Pharmaceutical
Industries
Ltd.
.....................
526,270
105,471
Ava
Risk
Group
Ltd.
............
44,661
140,436
Base
Resources
Ltd.
.............
28,864
746,989
BlueScope
Steel
Ltd.
............
9,378,405
2,130,574
Boral
Ltd.
....................
7,831,564
1
Castile
Resources
Ltd.
(a)
.........
0
495,394
Champion
Iron
Ltd.
(a)
..........
1,920,110
125,430
Class
Ltd.
....................
183,934
37,558
Clover
Corp.
Ltd.
..............
42,862
41,728
Codan
Ltd.
...................
380,237
1,832,840
CSR
Ltd.
....................
7,353,900
248,806
Data#3
Ltd.
..................
1,072,178
125,145
Eclipx
Group
Ltd.
(a)
............
161,351
1,063,675
Estia
Health
Ltd.
...............
1,511,801
420,822
Hansen
Technologies
Ltd.
........
1,239,908
1,327,515
Harvey
Norman
Holdings
Ltd.
....
5,376,544
1,205,471
IGO
Ltd.
....................
5,864,841
2,034,205
Iluka
Resources
Ltd.
............
9,964,804
494,636
Imdex
Ltd.
...................
594,860
85,862
Integrated
Research
Ltd.
.........
166,800
221,196
JB
Hi-Fi
Ltd.
..................
8,693,497
10,636
Johns
Lyng
Group
Ltd.
..........
24,979
277,152
Jupiter
Mines
Ltd.
..............
62,299
364,347
MACA
Ltd.
..................
351,009
888,753
Macmahon
Holdings
Ltd.
........
179,623
23,600
Mastermyne
Group
Ltd.
.........
12,923
1,053,240
Mayne
Pharma
Group
Ltd.
(a)
.....
252,100
570,199
Mineral
Resources
Ltd.
..........
14,851,260
23,203
MNF
Group
Ltd.
..............
78,160
2,265,708
Mount
Gibson
Iron
Ltd.
.........
1,463,285
464,869
Navigator
Global
Investments
Ltd.
..
727,954
330,713
Netwealth
Group
Ltd.
...........
4,340,350
59,561
Nick
Scali
Ltd.
................
466,135
364,180
Nickel
Mines
Ltd.
..............
349,654
227,702
Nufarm
Ltd.
(a)
................
841,314
17,007
Objective
Corp.
Ltd.
............
177,400
4,455,590
Orora
Ltd.
...................
8,508,422
1,195,009
OZ
Minerals
Ltd.
..............
16,903,033
89,398
People
Infrastructure
Ltd.
........
233,284
2,661,523
Perenti
Global
Ltd.
.............
2,625,007
101,435
Praemium
Ltd.
(a)
..............
61,101
7,406
Premier
Investments
Ltd.
.........
126,130
Shares
Value
AUSTRALIA
(continued)
492,007
Redbubble
Ltd.
(a)
..............
$
2,495,474
22,288
Reject
Shop
Ltd.
(The)
(a)
.........
114,474
317,565
RPMGlobal
Holdings
Ltd.
(a)
......
309,864
845,706
Sandfire
Resources
NL
...........
3,063,754
271,079
SEEK
Ltd.
...................
5,775,858
235,688
Seven
West
Media
Ltd.
(a)
........
64,431
1,572,046
Sigma
Healthcare
Ltd.
(a)
.........
789,854
2,425,338
South32
Ltd.
..................
4,677,639
58,562
Southern
Cross
Electrical
Engineering
Ltd.
.....................
26,766
83,131
Southern
Cross
Media
Group
Ltd.
(a)
136,320
1,253,736
Technology
One
Ltd.
............
8,233,408
4,364
Tiger
Resources
Ltd.
(a)
..........
1
407,833
Vita
Group
Ltd.
...............
327,932
1,754,184
Western
Areas
Ltd.
.............
3,123,337
167,326,154
AUSTRIA
—
0
.0
%
33,357
ANDRITZ
AG
................
1,584,636
1,515
Fabasoft
AG
..................
82,742
5,594
Palfinger
AG
..................
199,181
5,373
Semperit
AG
Holding
(a)
.........
168,723
10,825
Telekom
Austria
AG
............
82,390
1,047
Vienna
Insurance
Group
AG
Wiener
Versicherung
Gruppe
........
26,804
34,360
Zumtobel
Group
AG
............
283,282
2,427,758
BELGIUM
—
0
.3
%
215,922
AGFA-Gevaert
NV
(a)
...........
1,000,011
34,412
Bekaert
SA
...................
1,183,673
280,945
bpost
SA
(a)
...................
3,323,819
12,200
Deceuninck
NV
-
VVPR
Strip
(a)
(b)
.
0
33,767
D'ieteren
SA
..................
2,662,302
33,267
Econocom
Group
SA
............
102,775
19,529
EVS
Broadcast
Equipment
SA
(a)
...
362,281
140,385
Galapagos
NV
(a)
...............
14,680,387
1,709
Ion
Beam
Applications
...........
29,739
22,329
Melexis
NV
...................
2,496,103
34,661
Recticel
SA
...................
500,100
5,156
Tessenderlo
Group
SA
(a)
.........
219,992
26,561,182
BERMUDA
—
0
.4
%
425,000
Argo
Group
International
Holdings
Ltd.
.....................
17,148,750
264,140
James
River
Group
Holdings
Ltd.
...
11,748,947
1,340,246
Pacific
Andes
International
Holdings
Ltd.
(a)
(b)
................
4,737
28,902,434
BRAZIL
—
0
.3
%
271,108
Afya
Ltd.
-
Class
A
(a)
............
6,018,598
1,494,202
Cia
Energetica
de
Minas
Gerais
-
ADR
3,780,331
Old
Westbury
Funds,
Inc.
Small
&
Mid
Cap
Strategies
Fund
Portfolio
of
Investments
-
(Continued)
2
January
31,
2021
(Unaudited)
Shares
Value
BRAZIL
(continued)
221,685
Embraer
SA
-
ADR
(a)
...........
$
1,423,218
259,300
Notre
Dame
Intermedica
Participacoes
SA
......................
4,482,325
1,478,700
Petrobras
Distribuidora
SA
........
6,310,568
1,420,300
Rumo
SA
(a)
..................
5,238,450
27,253,490
CANADA
—
2
.3
%
47,707
AirBoss
of
America
Corp.
.........
621,917
2,896
Alcanna,
Inc.
(a)
................
15,513
7,200
Altius
Minerals
Corp.
...........
83,106
269,700
Altus
Group
Ltd.
...............
10,324,000
5,399
Bird
Construction,
Inc.
..........
34,621
13,800
Black
Diamond
Group
Ltd.
(a)
.....
28,706
2,080
Boardwalk
Real
Estate
Investment
Trust
REIT
...............
56,313
11,200
Bridgemarq
Real
Estate
Services
....
129,014
20,100
BRP,
Inc.
.....................
1,323,024
557,580
CAE,
Inc.
....................
12,597,057
194,124
Canfor
Corp.
(a)
...............
3,584,178
9,200
Canfor
Pulp
Products,
Inc.
........
61,082
104,892
CanWel
Building
Materials
Group
Ltd.
.....................
597,977
96,200
Cascades,
Inc.
.................
1,166,061
362,828
Celestica,
Inc.
(a)
...............
2,942,347
700
Cogeco,
Inc.
..................
50,345
143,800
Descartes
Systems
Group,
Inc.
(The)
(a)
8,769,129
1,605,615
Dollarama,
Inc.
................
62,768,089
14,531
Dream
Impact
Trust
-
Units
.......
68,522
74,687
DREAM
Unlimited
Corp.
-
Class
A
.
1,205,505
121,100
Enerplus
Corp.
................
375,019
86,482
Enghouse
Systems
Ltd.
..........
3,971,240
52,498
ERO
Copper
Corp.
(a)
...........
766,481
22,300
Evertz
Technologies
Ltd.
.........
223,218
30,283
Exco
Technologies
Ltd.
..........
229,713
60,525
Finning
International,
Inc.
........
1,263,748
608,900
First
Quantum
Minerals
Ltd.
......
10,142,381
312,900
H&R
Real
Estate
Investment
Trust
REIT
...................
2,975,456
40,100
Hardwoods
Distribution,
Inc.
.....
857,348
31,939
High
Liner
Foods,
Inc.
...........
294,476
498,900
Hudbay
Minerals,
Inc.
...........
2,840,268
1,173,774
IAMGOLD
Corp.
(a)
............
3,967,356
282,329
Interfor
Corp.
(a)
...............
5,261,310
230,813
Intertape
Polymer
Group,
Inc.
.....
4,146,060
37,200
Kinaxis,
Inc.
(a)
................
5,163,927
900
Lassonde
Industries,
Inc.
-
Class
A
..
122,604
17,318
Leon's
Furniture
Ltd.
............
278,984
72,000
Linamar
Corp.
................
3,675,589
1,687
Major
Drilling
Group
International,
Inc.
(a)
...................
9,208
28,115
Martinrea
International,
Inc.
......
298,134
96,972
Medical
Facilities
Corp.
..........
512,634
Shares
Value
CANADA
(continued)
1,500
Morguard
Corp.
...............
$
127,859
72,866
Morguard
North
American
Residential
Real
Estate
Investment
Trust
REIT
...................
853,024
457,192
Mullen
Group
Ltd.
.............
3,696,864
2,100
Neo
Performance
Materials,
Inc.
...
24,962
48,550
Nexus
Real
Estate
Investment
Trust
REIT
-
Units
..............
79,351
21,196
Precision
Drilling
Corp.
(a)
........
412,897
299,324
Real
Matters,
Inc.
(a)
............
3,920,764
4,279
Richards
Packaging
Income
Fund
-
Units
....................
240,327
315,000
Ritchie
Bros
Auctioneers,
Inc.
.....
18,556,650
36,300
Russel
Metals,
Inc.
..............
651,768
30,000
Secure
Energy
Services,
Inc.
.......
60,293
76,152
Stelco
Holdings,
Inc.
............
1,226,769
39,900
Stella-Jones,
Inc.
...............
1,434,060
125,582
Transcontinental,
Inc.
-
Class
A
....
2,015,204
13,036
Uni-Select,
Inc.
................
69,220
44,177
Wajax
Corp.
..................
656,393
36,600
West
Fraser
Timber
Co.
Ltd.
......
2,345,262
183,700
Western
Forest
Products,
Inc.
......
181,006
190,354,333
CHINA
—
3
.5
%
11,228,000
Agricultural
Bank
of
China
Ltd.
-
H
Shares
...................
4,048,603
11,452,000
Aluminum
Corp.
of
China
Ltd.
-
H
Shares
(a)
.................
3,473,680
10,480,770
Bank
of
China
Ltd.
-
H
Shares
.....
3,547,574
5,896,000
Bank
of
Communications
Co.
Ltd.
-
H
Shares
...................
3,188,148
290,195
Baozun,
Inc.
-
ADR
(a)
...........
11,895,093
2,400,400
Beibuwan
Port
Co.
Ltd.
..........
3,306,326
4,297,800
Beijing
Yanjing
Brewery
Co.
Ltd.
...
4,367,758
1,751,000
Better
Life
Commercial
Chain
Share
Co.
Ltd.
.................
2,080,097
70,000
China
Animal
Healthcare
Ltd.
(a)
(b)
.
847
5,394,044
China
Construction
Bank
Corp.
-
H
Shares
...................
4,085,550
6,820,000
China
Galaxy
Securities
Co.
Ltd.
-
H
Shares
...................
4,078,675
79,500
China
Huiyuan
Juice
Group
Ltd.
(a)
(b)
3,595
4,603,800
China
Minsheng
Banking
Corp.
Ltd.
-
H
Shares
.................
2,632,328
5,998,000
China
Railway
Group
Ltd.
-
H
Shares
2,722,756
2,603,300
China
Railway
Tielong
Container
Logistics
Co.
Ltd.
..........
2,063,663
2,911,295
Chongqing
Changan
Automobile
Co.
Ltd.
(a)
...................
7,753,613
772,400
Chongqing
Department
Store
Co.
Ltd.
3,263,403
6,384,000
CSG
Holding
Co.
Ltd.
..........
6,504,802
302,000
CT
Environmental
Group
Ltd.
(a)
(b)
2,485
Old
Westbury
Funds,
Inc.
Small
&
Mid
Cap
Strategies
Fund
Portfolio
of
Investments
-
(Continued)
3
January
31,
2021
(Unaudited)
Shares
Value
CHINA
(continued)
4,043,700
Daqin
Railway
Co.
Ltd.
..........
$
3,990,290
3,501,600
Dongfang
Electric
Corp.
Ltd.
......
3,353,092
2,474,205
FAW
Jiefang
Group
Co.
Ltd.
(a)
....
4,166,680
1,194,480
Fujian
Star-net
Communication
Co.
Ltd.
.....................
3,926,938
3,757,000
Greentown
China
Holdings
Ltd.
...
4,907,849
3,325,700
Guangxi
Liugong
Machinery
Co.
Ltd.
3,872,555
3,258,400
Guangzhou
R&F
Properties
Co.
Ltd.
-
H
Shares
.................
4,007,783
63,000
Harmonicare
Medical
Holdings
Ltd.
(a)
(b)
(c)
..............
16,576
68,000
HOSA
International
Ltd.
(a)
(b)
....
477
133,327
I-Mab
-
ADR
(a)
...............
7,251,656
6,511,000
Industrial
&
Commercial
Bank
of
China
Ltd.
-
H
Shares
.......
4,153,174
3,394,600
IRICO
Display
Devices
Co.
Ltd.
(a)
.
3,924,837
3,541,938
Jiangxi
Copper
Co.
Ltd.
-
H
Shares
.
5,818,818
2,895,483
Jilin
Sino-Microelectronics
Co.
Ltd.
(a)
3,226,755
7,489,000
Kingdee
International
Software
Group
Co.
Ltd.
.................
29,999,240
2,293,400
MLS
Co.
Ltd.
.................
5,651,992
429,518
OneConnect
Financial
Technology
Co.
Ltd.
-
ADR
(a)
.............
8,813,709
5,511,600
ORG
Technology
Co.
Ltd.
........
3,701,792
9,445,715
People's
Insurance
Co.
Group
of
China
Ltd.
(The)
-
H
Shares
........
2,903,302
67,000
Real
Gold
Mining
Ltd.
(a)
(b)
......
2,273
12,066,000
Shandong
Nanshan
Aluminum
Co.
Ltd.
.....................
6,213,909
1,698,000
Shenzhen
Laibao
Hi-tech
Co.
Ltd.
..
2,852,667
5,233,500
Sino-Ocean
Group
Holding
Ltd.
...
1,054,824
255,000
Tenwow
International
Holdings
(b)
..
12,498
1,856,367
Tongkun
Group
Co.
Ltd.
.........
6,656,934
15,813,400
Tongling
Nonferrous
Metals
Group
Co.
Ltd.
.................
5,598,050
1,655,200
UBS
Beijing
Hualian
Hypermarket
Co.
Ltd.
-
A
Shares
.........
909,483
8,249,000
UBS
Beiqi
Foton
Motor
Co.
Ltd.
...
3,294,073
9,838,200
UBS
Rizhao
Port
Co.
Ltd.
-
A
Shares
4,080,984
2,440,400
UBS
Shandong
Haihua
Co.
Ltd.
-
A
Shares
...................
1,265,372
1,544,000
UBS
Triangle
Tyre
Co.
Pnote
......
4,163,025
2,378,400
UBS
Xiamen
King
Long
Motor
Group
Co.
Ltd.
-
A
Shares
(a)
.......
2,407,559
3,635,300
Wuxi
Taiji
Industry
Co.
Ltd.
......
4,572,722
1,205,600
Xiaomi
Corp.
-
Class
B
(a)
(c)
......
4,502,539
1,799,374
Xuji
Electric
Co.
Ltd.
............
3,629,667
104,500
Youyuan
International
Holdings
Ltd.
(a
)
(b)
.....................
658
4,859,600
Yunnan
Aluminium
Co.
Ltd.
(a)
....
5,659,692
2,740,300
Yunnan
Copper
Co.
Ltd.
(a)
.......
5,477,254
284,646
Zai
Lab
Ltd.
-
ADR
(a)
...........
45,563,285
Shares
Value
CHINA
(continued)
5,720,800
Zoomlion
Heavy
Industry
Science
and
Technology
Co.
Ltd.
-
H
Shares
$
7,817,664
288,441,643
COSTA
RICA
—
0
.0
%
57,087
Establishment
Labs
Holdings,
Inc.
(a)
2,889,173
DENMARK
—
1
.5
%
34,297
ALK-Abello
A/S
(a)
.............
13,410,276
324,312
Ambu
A/S
-
Class
B
.............
15,272,616
196,698
Bang
&
Olufsen
A/S
(a)
..........
952,635
9,794
Better
Collective
A/S
(a)
..........
231,195
845
Brodrene
A&O
Johansen
A/S
-
Preference
Shares
...........
90,879
41,306
Carlsberg
A/S
-
Class
B
..........
6,034,479
108,280
D/S
Norden
A/S
...............
1,933,245
77,079
DSV
PANALPINA
A/S
..........
12,026,276
139,088
FLSmidth
&
Co.
A/S
(a)
..........
4,861,307
80,367
Genmab
A/S
(a)
................
31,997,693
234,295
GN
Store
Nord
A/S
.............
17,849,289
26,504
H+H
International
A/S
-
Class
B
(a)
.
631,970
165,902
Matas
A/S
(a)
..................
2,057,078
20,159
Napatech
A/S
(a)
...............
34,882
22,271
Nilfisk
Holding
A/S
(a)
...........
493,375
4,279
North
Media
AS
...............
55,759
4,888
Per
Aarsleff
Holding
A/S
.........
225,923
7,791
Rockwool
International
A/S
-
B
Shares
2,939,170
8,077
Schouw
&
Co.
A/S
.............
812,699
38,658
SimCorp
A/S
..................
5,003,667
67,873
Spar
Nord
Bank
A/S
(a)
..........
618,712
37,647
Vestas
Wind
Systems
A/S
.........
8,083,478
125,616,603
FINLAND
—
0
.9
%
10,964
Altia
Oyj
.....................
144,406
4,578
Atria
Oyj
.....................
57,244
110,393
BasWare
Oyj
(a)
................
5,250,217
12,549
Cargotec
Oyj
-
B
Shares
..........
545,135
36,658
Caverion
Oyj
(a)
...............
263,758
1,931
eQ
Oyj
......................
38,623
10,333
Fiskars
Oyj
Abp
................
194,088
16,592
F-Secure
Oyj
(a)
................
77,885
14,434
Harvia
Oyj
...................
411,095
40,212
Kamux
Corp.
.................
666,290
36,723
Kemira
Oyj
...................
621,611
54,145
Konecranes
Oyj
................
1,968,800
13,873
Lassila
&
Tikanoja
Oyj
..........
241,644
642
Marimekko
Oyj
(a)
..............
36,305
118,025
Metsa
Board
Oyj
...............
1,268,550
696
Olvi
Oyj
-
A
Shares
.............
37,144
82,335
Oriola
Oyj
-
Class
B
............
202,371
78,729
Orion
Oyj
-
Class
B
.............
3,612,209
2,938,039
Outotec
Oyj
..................
29,315,895
1,260
Pihlajalinna
Oyj
(a)
.............
15,136
Old
Westbury
Funds,
Inc.
Small
&
Mid
Cap
Strategies
Fund
Portfolio
of
Investments
-
(Continued)
4
January
31,
2021
(Unaudited)
Shares
Value
FINLAND
(continued)
37,782
QT
Group
Oyj
(a)
..............
$
3,127,946
52,281
Revenio
Group
Oyj
.............
3,186,147
69,355
Sanoma
Oyj
..................
1,328,248
14,532
Suominen
Oyj
.................
96,274
3,578
Titanium
Oyj
.................
62,891
109,991
Tokmanni
Group
Corp.
..........
2,129,182
72,779
Uponor
Oyj
..................
1,710,176
200,743
Vaisala
Oyj
-
A
Shares
...........
9,651,994
105,757
Valmet
Oyj
...................
3,385,583
7,589
Verkkokauppa.com
Oyj
..........
65,907
69,712,754
FRANCE
—
0
.6
%
1,599
AKWEL
.....................
40,997
131,368
Atos
SE
(a)
....................
10,081,129
2,599
Bigben
Interactive
(a)
............
61,013
369
Boiron
SA
....................
15,327
641
Cegedim
SA
(a)
................
18,296
389,059
Cellectis
SA
(a)
.................
10,887,885
223,500
Derichebourg
SA
(a)
.............
1,510,733
2,853
Ekinops
SAS
(a)
................
23,108
3,886
Eurobio
Scientific
SA
(a)
..........
94,935
4,121
Fnac
Darty
SA
(a)
...............
231,655
1,062
Groupe
Guillin
................
31,504
2,122
Groupe
LDLC
(a)
..............
141,537
5,483
Guerbet
.....................
221,676
658
Infotel
SA
....................
33,110
3,913
Ipsen
SA
.....................
341,377
2,336
IPSOS
......................
74,668
378,394
Lectra
.......................
10,791,965
3,709
LNA
Sante
SA
.................
221,787
2,011
Manitou
BF
SA
................
66,876
17,084
Mercialys
SA
REIT
.............
154,897
19,885
Mersen
SA
(a)
.................
607,102
23,875
Metropole
Television
SA
(a)
.......
405,630
37,155
Nexans
SA
(a)
.................
2,763,401
8,273
Nexity
SA
....................
372,676
39,303
Quadient
....................
857,995
405,604
Rexel
SA
(a)
...................
6,172,013
9,267
Rothschild
&
Co.
(a)
............
316,315
865
Seche
Environnement
SA
.........
44,542
1,862
Somfy
SA
....................
323,002
900
Synergie
SA
(a)
.................
34,355
21,634
Tarkett
SA
(a)
..................
386,379
185,487
Television
Francaise
1
(a)
.........
1,607,867
6,771
Trigano
SA
...................
1,190,499
49,379
Valneva
SE
(a)
.................
566,216
5,595
Virbac
SA
(a)
..................
1,456,308
52,148,775
GERMANY
—
2
.2
%
65,518
ADVA
Optical
Networking
SE
(a)
...
716,901
1,285,169
AIXTRON
SE
(a)
..............
24,020,180
516,180
alstria
office
AG
REIT
...........
8,880,469
Shares
Value
GERMANY
(continued)
5,193
Atoss
Software
AG
..............
$
1,172,140
4,103
Baader
Bank
AG
(a)
.............
33,080
9,584
Bauer
AG
(a)
..................
140,260
40,159
Carl
Zeiss
Meditec
AG
...........
6,276,256
209,640
CECONOMY
AG
(a)
...........
1,347,802
6,579
CropEnergies
AG
..............
99,681
157,097
Deutsche
EuroShop
AG
(a)
........
3,360,916
170,975
Deutz
AG
(a)
..................
1,109,462
18,591
Draegerwerk
AG
&
Co.
KGaA
-
Preference
Shares
...........
1,585,305
17,270
Duerr
AG
....................
701,018
3,645
Elmos
Semiconductor
AG
........
145,028
10,775
ElringKlinger
AG
(a)
............
202,731
24,345
Gerresheimer
AG
..............
2,590,244
32,763
GFT
Technologies
SE
...........
481,152
10,059
Hamborner
AG
REIT
...........
113,682
237,934
Hamburger
Hafen
und
Logistik
AG
.
5,133,964
121,209
HelloFresh
SE
(a)
...............
10,235,165
21,228
Home24
SE
(a)
................
545,323
25,103
Hornbach
Baumarkt
AG
.........
1,058,181
13,956
Hornbach
Holding
AG
&
Co.
KGaA
1,320,304
12,651
Hypoport
SE
(a)
................
8,605,067
1,633
Indus
Holding
AG
..............
66,182
56,493
Jungheinrich
AG
-
Preference
Shares
.
2,575,848
70,521
KION
Group
AG
..............
6,088,799
241,518
Kloeckner
&
Co.
SE
(a)
..........
2,209,231
30,329
Krones
AG
...................
2,510,431
239
KSB
SE
&
Co.
KGaA
-
Preference
Shares
...................
68,393
2,169
Leifheit
AG
...................
113,950
1,294
MBB
SE
.....................
215,075
1,471
Mensch
und
Maschine
Software
SE
.
111,109
366,273
MorphoSys
AG
(a)
..............
43,734,208
10,102
New
Work
SE
.................
2,796,989
36,926
Norma
Group
SE
..............
1,841,499
3,704
PATRIZIA
AG
................
112,843
99
Paul
Hartmann
AG
.............
48,056
46,703
ProSiebenSat.1
Media
SE
(a)
.......
843,951
36,841
Rheinmetall
AG
...............
3,890,092
100,614
SAF-Holland
SE
(a)
.............
1,399,667
68,841
Salzgitter
AG
(a)
................
1,789,816
90,925
Schaeffler
AG
-
Preference
Shares
...
718,547
291,460
Sirius
Real
Estate
Ltd.
...........
376,624
1,836
STO
SE
&
Co.
KGaA
-
Preference
Shares
...................
291,376
36,655
SUESS
MicroTec
SE
(a)
..........
1,011,657
71,648
Symrise
AG
...................
8,916,140
428,546
TAG
Immobilien
AG
...........
13,159,251
23,806
Takkt
AG
(a)
..................
299,115
1,577
Technotrans
SE
(a)
..............
48,336
2,619
VERBIO
Vereinigte
BioEnergie
AG
.
132,657
1,523
VIB
Vermoegen
AG
.............
54,047
Old
Westbury
Funds,
Inc.
Small
&
Mid
Cap
Strategies
Fund
Portfolio
of
Investments
-
(Continued)
5
January
31,
2021
(Unaudited)
Shares
Value
GERMANY
(continued)
1,269
Villeroy
&
Boch
AG
-
Preference
Shares
...................
$
24,069
15,455
Wacker
Chemie
AG
.............
2,236,770
74,149
Wacker
Neuson
SE
(a)
...........
1,487,811
26,407
Westwing
Group
AG
(a)
..........
1,180,441
19,733
Wuestenrot
&
Wuerttembergische
AG
404,492
8,401
zooplus
AG
(a)
.................
1,945,232
182,577,015
GREECE
—
0
.1
%
96
Alapis
Holding
Industrial
and
Commercial
SA
of
Pharmaceutical
Chemical
Products
(a)
(b)
.............
0
2,274,929
Alpha
Bank
AE
(a)
..............
2,058,253
3,407,374
Eurobank
Ergasias
SA
(a)
.........
2,250,579
939,392
National
Bank
of
Greece
SA
(a)
.....
2,204,543
367,190
OPAP
SA
....................
4,495,210
31,091
TT
Hellenic
Postbank
SA
(a)
(b)
....
0
11,008,585
HONG
KONG
—
0
.4
%
210,000
Analogue
Holdings
Ltd.
..........
34,895
123,795
APT
Satellite
Holdings
Ltd.
.......
35,675
271,100
ASM
Pacific
Technology
Ltd.
......
3,936,747
504,000
Bel
Global
Resources
Holdings
Ltd.
(a)
(b)
......................
0
289,000
Brightoil
Petroleum
Holdings
Ltd.
(a)
(b)
......................
10,485
162,377
Build
King
Holdings
Ltd.
........
19,241
1,385,479
Champion
REIT
...............
794,981
525,600
China
Fiber
Optic
Network
System
Group
Ltd.
(a)
(b)
...........
3,559
6,603,000
China
High
Precision
Automation
Group
Ltd.
(a)
(b)
...........
0
3,158,000
China
Unicom
Hong
Kong
Ltd.
...
1,767,955
864,412
Chow
Sang
Sang
Holdings
International
Ltd.
..........
1,036,820
2,632,710
COSCO
SHIPPING
Ports
Ltd.
....
1,867,644
170,899
Dah
Sing
Financial
Holdings
Ltd.
..
483,594
244,000
DBA
Telecommunication
Asia
Holdings
Ltd.
(a)
(b)
.........
11,978
2,900,000
Emperor
Watch
&
Jewellery
Ltd.
(a)
.
40,753
292,000
First
Pacific
Co.
Ltd.
............
90,177
1,130,000
Giordano
International
Ltd.
.......
192,035
7,050,000
G-Resources
Group
Ltd.
(a)
.......
39,054
420,385
HKR
International
Ltd.
..........
170,568
166,000
Hsin
Chong
Group
Holdings
Ltd.
(a)
(b)
......................
1,405
220,000
Hua
Han
Health
Industry
Holdings
Lt
d.
(a)
(b)
..................
2,821
274,000
Hutchison
Telecommunications
Hong
Kong
Holdings
Ltd.
.........
43,393
Shares
Value
HONG
KONG
(continued)
315,000
Hysan
Development
Co.
Ltd.
.....
$
1,142,344
504,000
International
Housewares
Retail
Co.
Ltd.
.....................
160,898
246,000
Jacobson
Pharma
Corp.
Ltd.
......
33,304
30,750
JBM
Healthcare
Ltd.
(a)
(b)
........
4,442
759,937
Johnson
Electric
Holdings
Ltd.
....
2,244,476
192,000
Luk
Fook
Holdings
International
Ltd.
415,923
28,000
MH
Development
Ltd.
(a)
(b)
......
785
429,000
Mingfa
Group
International
Co.
Ltd.
(a)
...................
39,285
114,000
Modern
Dental
Group
Ltd.
.......
19,232
3,507,000
Nine
Dragons
Paper
Holdings
Ltd.
..
5,402,560
44,788
Oriental
Watch
Holdings
.........
14,530
162,000
PC
Partner
Group
Ltd.
(a)
........
59,534
2,063,274
Perfect
Shape
Medical
Ltd.
........
833,866
5,997,000
Poly
Property
Group
Co.
Ltd.
.....
1,724,120
875,000
Polytec
Asset
Holdings
Ltd.
.......
166,812
200,000
SOCAM
Development
Ltd.
(a)
.....
33,486
177,230
Stella
International
Holdings
Ltd.
...
209,586
3,590,000
Sun
Art
Retail
Group
Ltd.
........
3,714,875
117,198
Sun
Hung
Kai
&
Co.
Ltd.
........
47,965
827,654
Sunlight
Real
Estate
Investment
Trust
REIT
...................
401,438
966,177
Tai
Hing
Group
Holdings
Ltd.
.....
184,071
11,397
Tang
Palace
China
Holdings
Ltd.
...
1,235
1,118,564
Texwinca
Holdings
Ltd.
..........
220,261
1,464,000
Time
Interconnect
Technology
Ltd.
.
75,290
497,600
Tsit
Wing
International
Holdings
Ltd.
64,034
5,384,000
United
Laboratories
International
Holdings
Ltd.
(The)
.........
3,732,906
44,000
Up
Energy
Development
Group
Ltd.
(a
)
(b)
.....................
137
1,101,300
Valuetronics
Holdings
Ltd.
.......
523,243
1,585,841
Vincent
Medical
Holdings
Ltd.
....
402,731
596,000
VSTECS
Holdings
Ltd.
..........
520,351
59,000
VTech
Holdings
Ltd.
............
471,664
135,331
Wai
Kee
Holdings
Ltd.
..........
66,134
17,219,487
Wang
On
Group
Ltd.
...........
126,231
3,690,712
Wang
On
Properties
Ltd.
.........
49,577
591,430
Yue
Yuen
Industrial
Holdings
Ltd.
..
1,286,552
34,977,658
ICELAND
—
0
.1
%
1,052,681
Ossur
HF
....................
7,728,638
INDIA
—
0
.5
%
2,190,500
Bharat
Heavy
Electricals
Ltd.
(a)
....
1,078,810
56,756
Chennai
Super
Kings
Cricket
Ltd.
(a)
(b)
......................
328
113,648
IndiaMart
InterMesh
Ltd.
(c)
......
12,111,190
222,645
Lupin
Ltd.
...................
3,069,482
1,246,624
State
Bank
of
India
(a)
...........
4,809,375
6,114,280
Steel
Authority
of
India
Ltd.
(a)
....
4,790,743
2,952,481
TV18
Broadcast
Ltd.
(a)
..........
1,128,993
Old
Westbury
Funds,
Inc.
Small
&
Mid
Cap
Strategies
Fund
Portfolio
of
Investments
-
(Continued)
6
January
31,
2021
(Unaudited)
Shares
Value
INDIA
(continued)
150,677
WNS
Holdings
Ltd.
-
ADR
(a)
.....
$
10,122,481
37,111,402
INDONESIA
—
0
.0
%
9,876,000
Bakrie
Telecom
Tbk
PT
(a)
(b)
......
6,599
2,616,900
Hanson
International
Tbk
PT
(a)
(b)
.
3,497
22,129,300
Perusahaan
Gas
Negara
Tbk
PT
....
2,108,522
995,300
Rimo
International
Lestari
Tbk
PT
(a)
(b)
.................
1,330
1,313,000
Trada
Alam
Minera
Tbk
PT
(a)
(b)
...
1,755
4,875,000
Truba
Alam
Manunggal
Engineering
PT
(a)
(b)
.................
0
2,121,703
IRELAND
—
0
.2
%
349,036
Alkermes
Plc
(a)
................
7,326,265
52,828
COSMO
Pharmaceuticals
NV
(a)
...
4,822,867
2,679
Grafton
Group
Plc
-
Units
........
31,632
12,180,764
ISRAEL
—
2
.2
%
6,486
Albaad
Massuot
Yitzhak
Ltd.
......
183,773
778,305
Bezeq
The
Israeli
Telecommunication
Corp.
Ltd.
(a)
..............
802,115
110,099
Compugen
Ltd.
(a)
..............
1,338,804
193,823
CyberArk
Software
Ltd.
(a)
........
31,060,136
330
Danel
Adir
Yeoshua
Ltd.
.........
49,209
15,191
Delta
Galil
Industries
Ltd.
........
355,618
1,006
Electra
Consumer
Products
1970
Ltd.
38,889
1,325,225
Industrial
Buildings
Corp.
Ltd.
....
3,155,984
3,549,234
Isramco
Negev
2
LP
.............
629,690
161,300
JFrog
Ltd.
(a)
..................
10,076,411
38,365
Kamada
Ltd.
(a)
................
252,543
274,181
Kornit
Digital
Ltd.
(a)
...........
24,850,395
1,071,589
Max
Stock
Ltd.
(a)
..............
4,499,191
7,233
Naphtha
Israel
Petroleum
Corp.
Ltd.
(a)
...................
32,441
1,016
Neto
ME
Holdings
Ltd.
..........
42,172
316,541
Nice
Ltd.
-
ADR
(a)
.............
82,705,833
330
Norstar
Holdings,
Inc.
...........
2,038
232,450
Plus500
Ltd.
..................
4,264,611
471,701
Radware
Ltd.
(a)
................
13,372,723
49,762
Rami
Levy
Chain
Stores
Hashikma
Marketing
2006
Ltd.
........
3,283,240
6,549
Tadiran
Holdings
Ltd.
...........
597,627
181,593,443
ITALY
—
0
.6
%
6,574
ACEA
SpA
...................
130,073
233,811
Arnoldo
Mondadori
Editore
SpA
(a)
.
384,755
26,053
Avio
SpA
(a)
...................
376,071
339,102
Azimut
Holding
SpA
............
7,125,398
264,449
Banca
Generali
SpA
(a)
...........
8,199,384
785,980
Banca
Mediolanum
SpA
(a)
.......
6,228,306
Shares
Value
ITALY
(continued)
16,990
BasicNet
SpA
.................
$
81,270
39,317
Biesse
SpA
(a)
..................
925,399
62,896
Buzzi
Unicem
SpA
..............
1,547,458
128,667
Cairo
Communication
SpA
(a)
.....
179,369
19,487
Cementir
Holding
NV
..........
160,106
102,893
Credito
Emiliano
SpA
(a)
.........
529,007
9,460
Danieli
&
C
Officine
Meccaniche
SpA
118,240
4,462
Datalogic
SpA
.................
77,567
739,969
Davide
Campari-Milano
NV
......
7,953,446
81,153
De'
Longhi
SpA
...............
2,912,475
57,108
Digital
Bros
SpA
...............
1,300,788
5,216
El.En.
SpA
(a)
.................
171,090
36,676
Elica
SpA
(a)
..................
128,798
56,697
Esprinet
SpA
(a)
................
650,727
5,477
Fine
Foods
&
Pharmaceuticals
NTM
70,041
94,858
FNM
SpA
(a)
..................
61,636
8,999
Gruppo
MutuiOnline
SpA
........
350,881
4,687
Iervolino
Entertainment
SpA
(a)
....
20,571
169,649
Immobiliare
Grande
Distribuzione
SIIQ
SpA
REIT
............
744,684
3,828
Italmobiliare
SpA
...............
127,267
3,232
La
Doria
SpA
.................
52,375
102,088
Mediaset
SpA
(a)
...............
264,134
1,279
Pharmanutra
SpA
..............
58,431
147,709
Piaggio
&
C
SpA
...............
523,646
193,378
Reno
de
Medici
SpA
............
234,976
4,880
Sanlorenzo
SpA
(a)
..............
108,725
16,554
Sesa
SpA
(a)
...................
1,942,497
43,445
Sogefi
SpA
(a)
..................
59,901
3,820
Tinexta
SpA
(a)
................
90,258
6,610
Uni
Land
SpA
(a)
(b)
.............
0
1,659,925
Unipol
Gruppo
SpA
(a)
..........
7,283,048
51,172,798
JAPAN
—
7
.1
%
119,200
77
Bank
Ltd.
(The)
.............
1,498,636
4,500
A&A
Material
Corp.
............
46,612
90,000
A&D
Co.
Ltd.
................
1,005,252
2,400
Abist
Co.
Ltd.
.................
67,457
97,100
Adastria
Co.
Ltd.
...............
1,777,862
6,800
Advantage
Risk
Management
Co.
Ltd.
41,356
118,500
AEON
Financial
Service
Co.
Ltd.
...
1,423,093
19,600
Ahresty
Corp.
(a)
...............
65,469
6,100
Ai
Holdings
Corp.
..............
115,135
6,600
Aiphone
Co.
Ltd.
..............
106,899
45,200
Aisan
Industry
Co.
Ltd.
..........
218,115
38,800
Akatsuki,
Inc.
.................
1,762,774
5,400
Akita
Bank
Ltd.
(The)
...........
70,471
6,200
All
About,
Inc.
................
58,631
102,592
Altech
Corp.
..................
2,038,370
7,116
Anabuki
Kosan,
Inc.
............
111,671
30,400
Anest
Iwata
Corp.
..............
324,417
82,700
AOI
TYO
Holdings,
Inc.
.........
351,367
Old
Westbury
Funds,
Inc.
Small
&
Mid
Cap
Strategies
Fund
Portfolio
of
Investments
-
(Continued)
7
January
31,
2021
(Unaudited)
Shares
Value
JAPAN
(continued)
12,300
Arata
Corp.
...................
$
541,020
12,500
Argo
Graphics,
Inc.
.............
375,565
2,700
Arisawa
Manufacturing
Co.
Ltd.
...
24,845
116,100
Asahi
Co.
Ltd.
.................
1,796,586
149,100
Asahi
Diamond
Industrial
Co.
Ltd.
.
648,676
37,600
Asahi
Net,
Inc.
................
316,094
8,500
ASAHI
YUKIZAI
CORP.
........
123,334
70,100
Asia
Pile
Holdings
Corp.
.........
321,981
7,600
ASKA
Pharmaceutical
Co.
Ltd.
....
109,661
14,500
ASKUL
Corp.
.................
512,063
75,904
Ateam,
Inc.
...................
845,154
55,996
Avant
Corp.
..................
737,310
67,300
Avex,
Inc.
....................
822,201
436,800
Azbil
Corp.
...................
22,246,444
21,400
Bando
Chemical
Industries
Ltd.
....
133,900
2,400
Bank
of
Saga
Ltd.
(The)
..........
29,627
2,200
Beenos,
Inc.
..................
46,573
36,200
BeNEXT
Group,
Inc.
...........
426,934
58,500
BML,
Inc.
....................
2,035,786
9,000
Broccoli
Co.
Ltd.
...............
118,920
17,700
Brother
Industries
Ltd.
...........
394,684
258,300
Bunka
Shutter
Co.
Ltd.
..........
2,304,883
2,200
Business
Brain
Showa-Ota,
Inc.
....
36,120
624
Business
Engineering
Corp.
.......
18,191
1,700
CAC
Holdings
Corp.
............
22,029
1,700
Canare
Electric
Co.
Ltd.
.........
28,774
229,800
Capcom
Co.
Ltd.
..............
14,417,511
2,600
Career
Design
Center
Co.
Ltd.
.....
22,106
89,200
Carenet,
Inc.
..................
3,649,458
196,100
Chiba
Kogyo
Bank
Ltd.
(The)
.....
444,442
1,800
Chino
Corp.
..................
23,921
14,600
Chugoku
Marine
Paints
Ltd.
......
132,543
460,980
CKD
Corp.
...................
10,473,813
154,700
COLOPL,
Inc.
................
1,352,231
202,500
Computer
Engineering
&
Consulting
Ltd.
.....................
2,716,188
47,000
CONEXIO
Corp.
..............
613,842
70,800
COOKPAD,
Inc.
(a)
............
209,806
3,200
Copro-Holdings
Co.
Ltd.
........
108,540
3,400
Core
Corp.
...................
48,943
8,600
Cosel
Co.
Ltd.
.................
92,892
4,729
Cota
Co.
Ltd.
.................
65,537
18,400
Creek
&
River
Co.
Ltd.
..........
201,907
4,500
Creo
Co.
Ltd.
.................
59,735
43,700
Cresco
Ltd.
...................
531,012
1,100
CRI
Middleware
Co.
Ltd.
(a)
......
22,563
400
CROOZ,
Inc.
(a)
...............
4,834
3,600
CTI
Engineering
Co.
Ltd.
........
83,832
32,400
Cybernet
Systems
Co.
Ltd.
........
291,999
100,900
Daicel
Corp.
..................
767,560
12,200
Daihen
Corp.
.................
577,199
61,200
Daiken
Medical
Co.
Ltd.
.........
327,299
16,179
Daikoku
Denki
Co.
Ltd.
.........
134,560
Shares
Value
JAPAN
(continued)
48,549
Daikokutenbussan
Co.
Ltd.
.......
$
2,585,912
3,600
Dainichiseika
Color
&
Chemicals
Manufacturing
Co.
Ltd.
......
76,727
28,000
Daito
Pharmaceutical
Co.
Ltd.
.....
990,498
38,500
Daitron
Co.
Ltd.
...............
585,021
55
Daiwa
Office
Investment
Corp.
REIT
356,572
226,000
DCM
Holdings
Co.
Ltd.
.........
2,283,711
6,300
Dear
Life
Co.
Ltd.
..............
26,264
46,000
DeNA
Co.
Ltd.
................
858,770
84,000
Dexerials
Corp.
................
1,100,362
21,400
Digital
Holdings,
Inc.
...........
371,520
180,200
Dip
Corp.
....................
4,945,405
1,700
DMS,
Inc.
....................
22,005
107,300
Doshisha
Co.
Ltd.
..............
1,921,745
68,100
Drecom
Co.
Ltd.
(a)
.............
516,878
102,000
Duskin
Co.
Ltd.
...............
2,691,153
17,483
Dynam
Japan
Holdings
Co.
Ltd.
...
17,476
172,800
EDION
Corp.
................
1,693,443
30,000
E-Guardian,
Inc.
...............
859,233
2,600
Eiken
Chemical
Co.
Ltd.
.........
57,190
3,200
Elan
Corp.
...................
45,412
4,600
Elematec
Corp.
................
43,582
3,000
Enigmo,
Inc.
..................
35,148
8,000
en-japan,
Inc.
.................
229,138
88,400
EPS
Holdings,
Inc.
.............
860,494
85,100
eSOL
Co.
Ltd.
................
973,988
33,700
Exedy
Corp.
..................
504,535
6,800
Faith,
Inc.
....................
51,638
2,500
FALCO
HOLDINGS
Co.
Ltd.
....
40,689
354,400
FAN
Communications,
Inc.
.......
1,376,511
43,900
FCC
Co.
Ltd.
.................
704,362
31,600
Fields
Corp.
..................
154,311
14,871
First
Bank
of
Toyama
Ltd.
(The)
....
40,929
128,300
Foster
Electric
Co.
Ltd.
..........
1,903,662
4,100
France
Bed
Holdings
Co.
Ltd.
.....
36,330
27,200
Freebit
Co.
Ltd.
................
253,582
107,000
Freee
KK
(a)
...................
9,070,752
12,400
Fudo
Tetra
Corp.
...............
201,162
50,000
Fuji
Soft,
Inc.
.................
2,582,980
304,100
Fujikura
Ltd.
(a)
................
1,425,209
3,000
Fujikyu
Corp.
.................
21,800
1,100
Fujimori
Kogyo
Co.
Ltd.
.........
48,851
30,300
Fujisash
Co.
Ltd.
...............
22,868
545,700
Fujitec
Co.
Ltd.
................
11,905,850
147,457
Fukui
Computer
Holdings,
Inc.
....
5,332,880
12,600
Full
Speed,
Inc.
................
52,294
131,600
FULLCAST
Holdings
Co.
Ltd.
....
2,104,809
4,100
Funai
Electric
Co.
Ltd.
(a)
........
16,816
8,100
Funai
Soken
Holdings,
Inc.
.......
179,248
111,700
Furuno
Electric
Co.
Ltd.
.........
1,213,917
5,600
Furusato
Industries
Ltd.
..........
67,828
105,183
Furyu
Corp.
..................
1,139,751
33,300
Futaba
Industrial
Co.
Ltd.
........
159,848
Old
Westbury
Funds,
Inc.
Small
&
Mid
Cap
Strategies
Fund
Portfolio
of
Investments
-
(Continued)
8
January
31,
2021
(Unaudited)
Shares
Value
JAPAN
(continued)
85,300
Future
Corp.
..................
$
1,430,893
64,900
Gakken
Holdings
Co.
Ltd.
........
1,063,089
35,000
Gakujo
Co.
Ltd.
...............
432,390
8,400
GCA
Corp.
...................
54,748
2,800
Gecoss
Corp.
..................
25,207
8,300
Geo
Holdings
Corp.
............
97,399
3,200
GLOBERIDE,
Inc.
.............
128,036
39,300
Glory
Ltd.
....................
761,757
44,376
Goldcrest
Co.
Ltd.
..............
764,041
561,400
Gree,
Inc.
....................
3,087,511
16,200
GS
Yuasa
Corp.
................
478,581
9,700
GSI
Creos
Corp.
...............
172,152
29,900
Gumi,
Inc.
...................
250,231
292,580
GungHo
Online
Entertainment,
Inc.
(a)
...................
7,294,126
31,500
Gunma
Bank
Ltd.
(The)
.........
97,162
27,600
Gunze
Ltd.
...................
880,130
377,400
Gurunavi,
Inc.
.................
1,908,190
45,700
H.U.
Group
Holdings,
Inc.
.......
1,358,847
19,600
Hagihara
Industries,
Inc.
.........
270,162
25,400
Hanwa
Co.
Ltd.
...............
656,149
29,100
Happinet
Corp.
................
431,590
109,100
Hennge
KK
(a)
.................
8,578,352
3,200
HI-LEX
Corp.
.................
45,396
73,400
Hino
Motors
Ltd.
..............
632,647
17,900
Hioki
EE
Corp.
................
701,545
4,800
Hirakawa
Hewtech
Corp.
........
57,265
131,076
Hirogin
Holdings,
Inc.
..........
761,552
189,400
Hitachi
Zosen
Corp.
............
1,080,971
10,700
Hito
Communications
Holdings,
Inc.
186,806
32,800
Hochiki
Corp.
.................
395,304
238,500
Hokuhoku
Financial
Group,
Inc.
...
2,105,057
9,600
H-One
Co.
Ltd.
...............
68,825
6
Honeys
Holdings
Co.
Ltd.
........
56
31,100
Hosiden
Corp.
................
283,109
2,986
Hosokawa
Micron
Corp.
.........
176,465
134
Ichigo
Hotel
Investment
Corp.
REIT
88,310
12,400
ID
Holdings
Corp.
.............
146,083
12,400
Idec
Corp.
....................
218,917
34,000
IMAGICA
GROUP,
Inc.
.........
119,708
7,000
Inabata
&
Co.
Ltd.
.............
98,278
77,200
Ines
Corp.
....................
1,050,266
28,400
Infocom
Corp.
................
823,606
1,867,000
Infomart
Corp.
................
15,992,919
13,800
Information
Services
International-
Dentsu
Ltd.
...............
508,955
61,800
Intage
Holdings,
Inc.
............
692,264
192,000
Internet
Initiative
Japan,
Inc.
......
3,935,164
42,200
I-O
Data
Device,
Inc.
...........
414,037
2,800
Iriso
Electronics
Co.
Ltd.
.........
127,568
50,200
ISB
Corp.
....................
606,972
9,300
Ishihara
Sangyo
Kaisha
Ltd.
.......
65,344
13,200
Isolite
Insulating
Products
Co.
Ltd.
.
66,191
Shares
Value
JAPAN
(continued)
27,100
Itfor,
Inc.
....................
$
241,408
55,900
Itoki
Corp.
...................
173,219
62,300
Iwaki
&
Co.
Ltd.
...............
383,225
6,300
Iwasaki
Electric
Co.
Ltd.
.........
82,563
57,800
JAC
Recruitment
Co.
Ltd.
........
1,027,293
3,800
Jaccs
Co.
Ltd.
.................
67,797
20,100
Janome
Sewing
Machine
Co.
Ltd.
..
157,017
93,800
Japan
Aviation
Electronics
Industry
Ltd.
.....................
1,455,852
4,000
Japan
Lifeline
Co.
Ltd.
...........
57,713
11,400
Japan
Pulp
&
Paper
Co.
Ltd.
......
385,677
24,200
Japan
System
Techniques
Co.
Ltd.
..
348,279
44,391
JBCC
Holdings,
Inc.
............
621,845
343,500
Jeol
Ltd.
.....................
14,066,739
17,300
JMS
Co.
Ltd.
.................
154,363
26,000
Joshin
Denki
Co.
Ltd.
...........
680,850
18,400
JP-Holdings,
Inc.
...............
49,656
6,600
JSP
Corp.
....................
106,768
105,300
JTEKT
Corp.
.................
935,668
134,900
Juki
Corp.
....................
815,157
24,700
Juroku
Bank
Ltd.
(The)
..........
435,288
58,400
JVCKenwood
Corp.
............
97,071
15,700
Kaga
Electronics
Co.
Ltd.
........
366,632
116,000
Kaken
Pharmaceutical
Co.
Ltd.
....
4,552,531
16,800
Kanamic
Network
Co.
Ltd.
.......
111,056
105,600
Kanamoto
Co.
Ltd.
.............
2,258,537
24,500
Kanematsu
Corp.
..............
308,137
1,100
Kanematsu
Electronics
Ltd.
.......
40,771
4,400
Kato
Sangyo
Co.
Ltd.
...........
145,207
22,100
Kawai
Musical
Instruments
Manufacturing
Co.
Ltd.
......
562,106
199,000
Keiyo
Co.
Ltd.
................
1,401,449
3,160
King
Co.
Ltd.
.................
17,849
39,200
Kissei
Pharmaceutical
Co.
Ltd.
.....
863,343
83,200
Kitanotatsujin
Corp.
............
454,691
51,400
Kito
Corp.
...................
747,905
21,100
Kitz
Corp.
....................
121,230
86,500
KLab,
Inc.
(a)
..................
753,100
238,500
Kobe
Bussan
Co.
Ltd.
...........
6,606,427
27,700
Kobe
Steel
Ltd.
(a)
..............
128,860
88,966
Kohnan
Shoji
Co.
Ltd.
...........
2,419,212
303,600
Kojima
Co.
Ltd.
...............
1,799,134
3,700
Kokusai
Co.
Ltd.
...............
25,658
12,187
Komehyo
Co.
Ltd.
..............
82,674
90,300
Komeri
Co.
Ltd.
...............
2,397,886
35,800
Komori
Corp.
.................
233,106
423,100
Konica
Minolta,
Inc.
............
1,835,446
249,500
K's
Holdings
Corp.
.............
3,373,699
26,400
Kurabo
Industries
Ltd.
...........
454,328
24,500
Kyoei
Steel
Ltd.
................
315,469
53,800
Kyokuto
Kaihatsu
Kogyo
Co.
Ltd.
..
739,377
7,200
Kyokuto
Securities
Co.
Ltd.
.......
51,983
54,400
KYORIN
Holdings,
Inc.
.........
1,020,987
Old
Westbury
Funds,
Inc.
Small
&
Mid
Cap
Strategies
Fund
Portfolio
of
Investments
-
(Continued)
9
January
31,
2021
(Unaudited)
Shares
Value
JAPAN
(continued)
9,000
Kyoritsu
Printing
Co.
Ltd.
........
$
10,495
19,000
LIFULL
Co.
Ltd.
..............
73,459
151,400
M3,
Inc.
.....................
12,744,050
16,200
Mabuchi
Motor
Co.
Ltd.
.........
668,037
30,000
Macnica
Fuji
Electronics
Holdings,
Inc.
.....................
628,686
14,300
Makino
Milling
Machine
Co.
Ltd.
..
576,279
50,600
Marubun
Corp.
................
260,477
163,800
Marvelous,
Inc.
................
1,500,731
4,400
Matsuoka
Corp.
...............
83,887
54,300
Max
Co.
Ltd.
.................
790,444
29,600
Maxell
Holdings
Ltd.
(a)
..........
388,903
528,000
Mazda
Motor
Corp.
............
3,764,152
66,100
Medipal
Holdings
Corp.
.........
1,353,382
122,000
MedPeer,
Inc.
(a)
...............
8,245,925
65,500
Megachips
Corp.
...............
1,942,447
127,600
Meidensha
Corp.
...............
2,964,669
3,300
Meiji
Electric
Industries
Co.
Ltd.
...
46,018
5,200
Meiko
Electronics
Co.
Ltd.
.......
92,047
64,300
Meiko
Network
Japan
Co.
Ltd.
....
365,164
70,900
Meitec
Corp.
..................
3,715,960
14,500
Meiwa
Corp.
..................
61,741
7,400
Meiwa
Estate
Co.
Ltd.
...........
42,694
15,400
Melco
Holdings,
Inc.
............
550,780
224,100
Micronics
Japan
Co.
Ltd.
.........
3,371,698
38,400
Mimasu
Semiconductor
Industry
Co.
Ltd.
.....................
981,063
2,300
Miraial
Co.
Ltd.
...............
23,977
4,100
Miroku
Jyoho
Service
Co.
Ltd.
.....
84,797
15,400
Mito
Securities
Co.
Ltd.
..........
36,458
22,100
Mitsuba
Corp.
(a)
...............
89,026
7,900
Mitsubishi
Paper
Mills
Ltd.
.......
25,451
24,800
Mitsubishi
Research
Institute,
Inc.
..
998,143
18,100
Mitsuboshi
Belting
Ltd.
..........
285,104
112,600
Mitsui
Matsushima
Holdings
Co.
Ltd.
826,413
12,449
Mitsui-Soko
Holdings
Co.
Ltd.
....
266,066
204,200
Mixi,
Inc.
....................
4,787,413
2,400
Miyazaki
Bank
Ltd.
(The)
........
49,037
72,150
Mizuno
Corp.
.................
1,435,121
21,200
Mochida
Pharmaceutical
Co.
Ltd.
..
795,699
313,500
MonotaRO
Co.
Ltd.
............
15,709,017
53
Mori
Trust
Hotel,
Inc.
REIT
......
59,481
233,400
Morinaga
&
Co.
Ltd.
............
9,285,493
1,500
Moriroku
Holdings
Co.
Ltd.
......
29,038
1,606
Mory
Industries,
Inc.
............
34,621
20,080
Mugen
Estate
Co.
Ltd.
...........
86,602
6,200
Mynet,
Inc.
(a)
.................
53,036
21,200
N
Field
Co.
Ltd.
...............
176,852
1,200
Nachi-Fujikoshi
Corp.
...........
48,043
15,000
Nafco
Co.
Ltd.
................
282,193
28,000
Nagano
Keiki
Co.
Ltd.
...........
251,696
4,400
Nakabayashi
Co.
Ltd.
...........
25,908
10,300
Nakanishi,
Inc.
................
196,886
Shares
Value
JAPAN
(continued)
4,900
NCS&A
Co.
Ltd.
..............
$
23,075
6,800
Nichiban
Co.
Ltd.
..............
108,280
7,500
Nichiha
Corp.
.................
224,736
364,200
Nichi-iko
Pharmaceutical
Co.
Ltd.
..
3,534,968
24,600
Nihon
Falcom
Corp.
............
342,475
251,300
Nihon
Unisys
Ltd.
..............
9,536,305
2,300
Nippon
BS
Broadcasting
Corp.
....
26,265
2,800
Nippon
Carbide
Industries
Co.,
Inc.
33,841
45,200
Nippon
Commercial
Development
Co.
Ltd.
.................
735,513
37,400
Nippon
Light
Metal
Holdings
Co.
Ltd.
.....................
675,272
28,700
Nippon
Sheet
Glass
Co.
Ltd.
(a)
....
128,038
15,100
Nippon
Steel
Trading
Corp.
.......
518,012
2,400
Nippon
Systemware
Co.
Ltd.
......
47,814
8,700
Nishimatsuya
Chain
Co.
Ltd.
......
117,051
214,300
Nishi-Nippon
Financial
Holdings,
Inc.
1,288,323
22,700
Nishio
Rent
All
Co.
Ltd.
.........
473,045
1,300
Nissei
ASB
Machine
Co.
Ltd.
......
71,441
33,700
Nissha
Co.
Ltd.
................
434,084
68,100
Nisshinbo
Holdings,
Inc.
.........
506,528
24,100
Nissin
Electric
Co.
Ltd.
..........
316,923
14,800
Nisso
Corp.
...................
113,398
12,900
Nitta
Corp.
...................
271,430
101,900
Nitto
Kogyo
Corp.
.............
1,988,201
18,600
Nittoc
Construction
Co.
Ltd.
......
135,867
47,500
Nojima
Corp.
.................
1,213,069
26,900
NOK
Corp.
..................
351,014
11,000
Noritake
Co.
Ltd./Nagoya
Japan
...
341,527
29,500
Noritz
Corp.
..................
423,076
249,722
NSD
Co.
Ltd.
.................
4,780,213
9,600
NSK
Ltd.
....................
87,041
24,900
NTN
Corp.
(a)
................
65,769
134,100
OBIC
Business
Consultants
Co.
Ltd.
8,539,844
49,000
Obic
Co
Ltd.
.................
9,168,091
16,600
Ohsho
Food
Service
Corp.
........
926,869
1,900
Oiles
Corp.
...................
29,615
62,300
Okamura
Corp.
................
546,760
456,400
Oki
Electric
Industry
Co.
Ltd.
.....
4,767,923
15,200
Okinawa
Cellular
Telephone
Co.
...
678,683
59,400
Okuwa
Co.
Ltd.
...............
718,267
5,000
Onoken
Co.
Ltd.
...............
57,859
141,000
Orient
Corp.
..................
160,379
5,010
Origin
Co.
Ltd.
................
64,458
154,400
Osaki
Electric
Co.
Ltd.
..........
852,873
48,730
Oyo
Corp.
...................
589,468
13,600
PAPYLESS
Co.
Ltd.
............
284,662
5,700
Paramount
Bed
Holdings
Co.
Ltd.
..
249,635
7,900
Pasco
Corp.
...................
101,851
83,800
Pasona
Group,
Inc.
.............
1,505,666
42,400
PC
Depot
Corp.
...............
222,971
28,600
Pegasus
Sewing
Machine
Manufacturing
Co.
Ltd.
......
96,126
Old
Westbury
Funds,
Inc.
Small
&
Mid
Cap
Strategies
Fund
Portfolio
of
Investments
-
(Continued)
10
January
31,
2021
(Unaudited)
Shares
Value
JAPAN
(continued)
222,200
PeptiDream,
Inc.
(a)
.............
$
12,972,010
70,200
Poletowin
Pitcrew
Holdings,
Inc.
...
778,622
87,152
Proto
Corp.
...................
856,276
18,000
Punch
Industry
Co.
Ltd.
.........
70,738
4,500
Quick
Co.
Ltd.
................
49,146
392,700
Raccoon
Holdings,
Inc.
..........
7,205,161
234,300
Rakus
Co.
Ltd.
................
4,244,124
9,000
Ray
Corp.
....................
28,332
257,790
Relia,
Inc.
....................
3,537,366
1,100
Rhythm
Watch
Co.
Ltd.
.........
7,451
9,600
Riken
Corp.
..................
189,126
72,600
Riken
Technos
Corp.
............
314,822
7,600
Rion
Co.
Ltd.
.................
233,703
87,900
Rohm
Co.
Ltd.
................
8,918,588
184,300
Roland
Corp.
.................
6,686,143
57,900
Roland
DG
Corp.
..............
952,347
8,100
Ryobi
Ltd.
(a)
..................
92,764
5,800
Ryoden
Corp.
.................
89,306
10,900
Ryosan
Co.
Ltd.
...............
242,228
24,600
Sac's
Bar
Holdings,
Inc.
..........
130,888
104,400
Sagami
Rubber
Industries
Co.
Ltd.
..
1,188,398
100
Saison
Information
Systems
Co.
Ltd.
2,140
6,100
Sakai
Chemical
Industry
Co.
Ltd.
...
118,765
13,000
Sakata
INX
Corp.
..............
131,426
21,500
Sangetsu
Corp.
................
321,071
63,800
Sanken
Electric
Co.
Ltd.
.........
2,628,506
55,800
Sankyo
Co.
Ltd.
...............
1,593,807
15,200
Sankyo
Tateyama,
Inc.
...........
116,580
56,500
Sanwa
Holdings
Corp.
...........
644,138
1,900
Sanyo
Chemical
Industries
Ltd.
....
95,243
2,700
Sanyo
Denki
Co.
Ltd.
...........
161,879
7,500
Sanyo
Trading
Co.
Ltd.
..........
69,714
66,300
Sato
Holdings
Corp.
............
1,384,165
2,800
Sato
Shoji
Corp.
...............
24,407
7,800
Sawada
Holdings
Co.
Ltd.
........
69,196
83,100
Sawai
Pharmaceutical
Co.
Ltd.
.....
3,798,759
8,000
SCREEN
Holdings
Co.
Ltd.
......
617,027
1,500
Seika
Corp.
...................
19,315
81,700
Seikagaku
Corp.
...............
799,906
151,700
Seiko
Holdings
Corp.
...........
2,038,949
24,400
Sekisui
Plastics
Co.
Ltd.
..........
124,291
900
Semba
Corp.
..................
7,514
500
Senshu
Electric
Co.
Ltd.
.........
14,752
130,600
Septeni
Holdings
Co.
Ltd.
........
582,159
19,600
Seria
Co.
Ltd.
.................
682,492
739,500
SG
Holdings
Co.
Ltd.
...........
18,955,360
2,200
Shibaura
Electronics
Co.
Ltd.
......
64,219
20,900
Shibaura
Mechatronics
Corp.
......
1,063,260
113,200
Shimadzu
Corp.
...............
4,327,773
22,600
Shimamura
Co.
Ltd.
............
2,509,930
25,400
Shindengen
Electric
Manufacturing
Co.
Ltd.
.................
651,445
6,900
Shinmaywa
Industries
Ltd.
........
59,847
Shares
Value
JAPAN
(continued)
74,100
Shinoken
Group
Co.
Ltd.
........
$
816,600
97
Shofu,
Inc.
...................
1,736
45,100
Sinfonia
Technology
Co.
Ltd.
......
618,229
47,100
Sinko
Industries
Ltd.
............
820,525
49,200
SK-Electronics
Co.
Ltd.
..........
597,369
256,900
SKY
Perfect
JSAT
Holdings,
Inc.
...
1,128,302
52,800
Sodick
Co.
Ltd.
................
472,201
4,200
Softcreate
Holdings
Corp.
........
105,153
116,613
Soliton
Systems
KK
.............
1,906,266
5,900
Sprix
Ltd.
....................
44,182
6,300
SRA
Holdings
.................
151,246
11,600
ST
Corp.
.....................
222,186
60,429
St.
Marc
Holdings
Co.
Ltd.
.......
838,277
39,600
Star
Micronics
Co.
Ltd.
..........
600,035
29,300
Starts
Corp,
Inc.
...............
754,139
34,400
St-Care
Holding
Corp.
..........
309,280
1,500
Studio
Alice
Co.
Ltd.
............
28,967
7,200
Sumitomo
Bakelite
Co.
Ltd.
.......
258,248
38,900
Sumitomo
Heavy
Industries
Ltd.
...
1,082,492
7,900
Sumitomo
Seika
Chemicals
Co.
Ltd.
324,457
19,500
Sun
Frontier
Fudousan
Co.
Ltd.
....
164,181
18,900
Sun-Wa
Technos
Corp.
..........
187,683
20,400
Suruga
Bank
Ltd.
..............
59,990
97,800
Suzuken
Co.
Ltd.
..............
3,787,680
3,600
SWCC
Showa
Holdings
Co.
Ltd.
...
55,882
4,300
Systems
Engineering
Consultants
Co.
Ltd.
.....................
113,301
196,000
Systena
Corp.
.................
3,692,440
5,100
T
RAD
Co.
Ltd.
...............
66,078
7,600
Taiho
Kogyo
Co.
Ltd.
...........
51,597
16,400
Taikisha
Ltd.
..................
437,316
383,800
Takara
Leben
Co.
Ltd.
...........
1,157,055
25,000
Takasago
International
Corp.
......
617,832
22,900
Takeuchi
Manufacturing
Co.
Ltd.
..
521,429
131,600
Tamron
Co.
Ltd.
...............
2,564,186
7,600
Tamura
Corp.
.................
40,781
223,700
Tanseisha
Co.
Ltd.
..............
1,563,478
27,500
Tatsuta
Electric
Wire
and
Cable
Co.
Ltd.
.....................
180,030
12,200
Tazmo
Co.
Ltd.
................
167,603
29,700
TDC
Soft,
Inc.
................
273,013
405,400
TechMatrix
Corp.
..............
7,380,481
400
Techno
Medica
Co.
Ltd.
.........
5,956
7,800
Tecnos
Japan,
Inc.
..............
49,065
28,700
Teikoku
Electric
Manufacturing
Co.
Ltd.
.....................
332,684
78,100
Temairazu,
Inc.
................
3,530,888
33,587
T-Gaia
Corp.
..................
627,013
237,700
TIS,
Inc.
.....................
5,285,659
4,400
TKC
Corp.
...................
289,514
11,500
Toa
Corp.
....................
93,246
78,400
TOC
Co.
Ltd.
.................
539,485
108,365
Tochigi
Bank
Ltd.
(The)
..........
176,016
Old
Westbury
Funds,
Inc.
Small
&
Mid
Cap
Strategies
Fund
Portfolio
of
Investments
-
(Continued)
11
January
31,
2021
(Unaudited)
Shares
Value
JAPAN
(continued)
109,600
Toho
Holdings
Co.
Ltd.
..........
$
2,063,991
5,300
Toho
Zinc
Co.
Ltd.
(a)
...........
109,965
6,800
Tokai
Corp.
...................
130,259
11,400
Tokai
Rika
Co.
Ltd.
.............
186,800
18,200
Tokyo
Individualized
Educational
Institute,
Inc.
..............
117,459
13,700
Tokyo
Keiki,
Inc.
...............
122,221
39,200
Tokyo
Seimitsu
Co.
Ltd.
.........
1,812,474
16,700
Tokyo
Tekko
Co.
Ltd.
...........
317,517
1,300
Tomen
Devices
Corp.
...........
47,442
148,185
TOMONY
Holdings,
Inc.
........
426,648
270,690
Tomy
Co.
Ltd.
................
2,328,737
5,200
Topcon
Corp.
.................
62,841
58,700
Tosei
Corp.
...................
580,094
47,855
Toshiba
TEC
Corp.
.............
1,778,209
1,900
Tosho
Co.
Ltd.
................
28,013
46,000
Tosoh
Corp.
..................
788,794
10,200
Tow
Co.
Ltd.
..................
26,296
3,900
Towa
Bank
Ltd.
(The)
...........
24,675
6,500
Towa
Corp.
...................
119,695
150,200
Towa
Pharmaceutical
Co.
Ltd.
.....
3,006,606
6,600
Toyo
Denki
Seizo
KK
...........
72,757
18,700
Toyo
Machinery
&
Metal
Co.
Ltd.
..
77,959
6,200
Toyo
Tanso
Co.
Ltd.
............
114,232
15,000
Toyobo
Co.
Ltd.
...............
188,266
26,300
Toyota
Boshoku
Corp.
...........
425,225
12,200
TPR
Co.
Ltd.
.................
163,500
113,700
Transcosmos,
Inc.
..............
2,850,528
2,900
Trinity
Industrial
Corp.
..........
19,764
16,900
Tri-Stage,
Inc.
.................
69,705
17,700
TS
Tech
Co.
Ltd.
...............
512,413
54,800
Tsubakimoto
Chain
Co.
.........
1,409,209
18,000
Tsugami
Corp.
................
294,746
22,200
Tsukui
Holdings
Corp.
..........
119,206
81,800
Ubicom
Holdings,
Inc.
..........
2,539,509
18,900
ULS
Group,
Inc.
...............
658,069
29,400
UNITED,
Inc.
................
362,052
32,800
Unitika
Ltd.
(a)
................
119,690
11,800
UT
Group
Co.
Ltd.
(a)
...........
361,887
2,000
V
Technology
Co.
Ltd.
..........
117,827
9,600
Valqua
Ltd.
...................
187,971
10,200
Vector,
Inc.
(a)
.................
124,830
6,900
Vital
KSK
Holdings,
Inc.
.........
52,479
418,900
Wacom
Co.
Ltd.
...............
3,741,040
15,500
Warabeya
Nichiyo
Holdings
Co.
Ltd.
241,252
6,625
Waseda
Academy
Co.
Ltd.
........
62,035
8,200
Watts
Co.
Ltd.
.................
66,838
6,700
WDB
Holdings
Co.
Ltd.
.........
167,007
4,600
Weathernews,
Inc.
..............
211,618
48,500
Will
Group,
Inc.
...............
466,196
64,500
World
Holdings
Co.
Ltd.
.........
1,167,921
15,100
Wowow,
Inc.
..................
409,760
52,000
Xebio
Holdings
Co.
Ltd.
.........
434,331
Shares
Value
JAPAN
(continued)
77
XYMAX
Investment
Corp.
REIT
...
$
76,587
105,800
YAMABIKO
Corp.
.............
1,295,456
254,800
Yamada
Denki
Co.
Ltd.
..........
1,298,927
44,900
Yamaichi
Electronics
Co.
Ltd.
.....
710,136
8,900
YA-MAN
Ltd.
.................
150,832
31,600
Yamanashi
Chuo
Bank
Ltd.
(The)
...
239,244
4,300
Yamato
Kogyo
Co.
Ltd.
..........
108,670
2,400
Yokowo
Co.
Ltd.
...............
74,188
28,400
Yurtec
Corp.
..................
222,507
13,500
Yushin
Precision
Equipment
Co.
Ltd.
123,446
44,300
Zenrin
Co.
Ltd.
................
520,984
72,600
ZERIA
Pharmaceutical
Co.
Ltd.
....
1,380,849
46,800
ZIGExN
Co.
Ltd.
..............
169,856
2,900
Zuken,
Inc.
...................
75,412
581,970,866
JERSEY
CHANNEL
ISLANDS
—
0
.5
%
271,936
Novocure
Ltd.
(a)
...............
43,770,819
NETHERLANDS
—
1
.2
%
34,737
Aalberts
NV
..................
1,568,152
47,767
Accell
Group
NV
(a)
............
1,691,958
3,019
Amsterdam
Commodities
NV
.....
74,751
21,654
Argenx
SE
(a)
..................
6,314,237
114,051
ASM
International
NV
..........
29,216,248
230,500
ASR
Nederland
NV
.............
8,935,145
163,839
BE
Semiconductor
Industries
NV
..
11,264,532
52,066
Boskalis
Westminster
(a)
..........
1,462,738
738
Brack
Capital
Properties
NV
(a)
....
64,112
21,076
Brunel
International
NV
(a)
.......
204,108
217,890
Eurocommercial
Properties
NV
REIT
(a)
.................
4,204,604
45,621
ForFarmers
NV
................
293,627
187,057
Heijmans
NV
(a)
...............
2,293,319
87,741
IMCD
NV
...................
10,889,027
1,494
Kendrion
NV
(a)
...............
34,936
848,029
Koninklijke
BAM
Groep
NV
(a)
....
1,671,561
67,459
Koninklijke
DSM
NV
...........
11,792,734
2,695
Nederland
Apparatenfabriek
......
160,340
3,476
NSI
NV
REIT
................
143,316
6,069
Ordina
NV
...................
21,185
862,565
PostNL
NV
(a)
.................
3,555,954
38,588
TKH
Group
NV
...............
1,822,500
83,052
TomTom
NV
(a)
...............
966,044
19,218
Vastned
Retail
NV
REIT
.........
544,526
99,189,654
NEW
ZEALAND
—
0
.6
%
207,409
Argosy
Property
Ltd.
REIT
.......
229,111
56,557
Arvida
Group
Ltd.
..............
72,526
6,753
CBL
Corp.
Ltd.
(a)
(b)
...........
2,884
44,012
EBOS
Group
Ltd.
..............
901,714
1,181,138
Fletcher
Building
Ltd.
(a)
.........
5,171,230
83,160
Fletcher
Building
Ltd.
(a)
.........
369,638
Old
Westbury
Funds,
Inc.
Small
&
Mid
Cap
Strategies
Fund
Portfolio
of
Investments
-
(Continued)
12
January
31,
2021
(Unaudited)
Shares
Value
NEW
ZEALAND
(continued)
38,075
NZX
Ltd.
....................
$
55,953
509,655
Oceania
Healthcare
Ltd.
.........
575,506
1,941,800
Pushpay
Holdings
Ltd.
(a)
........
2,287,618
34,609
Skellerup
Holdings
Ltd.
..........
96,477
460,774
SKY
NETWORK
TELEVISION
Ltd.
(a)
...................
54,189
125,994
Vista
Group
International
Ltd.
(a)
...
134,319
365,983
Xero
Ltd.
(a)
..................
36,103,762
46,054,927
NORWAY
—
0
.1
%
10,775
Atea
ASA
....................
163,944
247,464
B2Holding
ASA
(a)
.............
205,387
192,882
Kitron
ASA
...................
363,506
268,128
Nordic
Semiconductor
ASA
(a)
.....
4,108,018
94,318
Odfjell
Drilling
Ltd.
(a)
..........
183,842
14,768
Olav
Thon
Eiendomsselskap
ASA
(a)
.
292,873
1,758
SpareBank
1
BV
...............
8,500
28,061
SpareBank
1
SMN
..............
326,655
46
Sparebanken
More
..............
1,602
3,443
Sparebanken
Vest
...............
27,645
1
TGS
NOPEC
Geophysical
Co.
ASA
13
42,379
Veidekke
ASA
.................
509,599
248,080
Wallenius
Wilhelmsen
ASA
(a)
.....
612,580
6,804,164
PERU
—
0
.0
%
326,000
Cia
de
Minas
Buenaventura
SAA
-
ADR
(a)
..................
3,318,680
POLAND
—
0
.2
%
305,662
KGHM
Polska
Miedz
SA
(a)
.......
15,384,793
1,110,477
PGE
Polska
Grupa
Energetyczna
SA
(a)
1,939,173
3,097,256
Tauron
Polska
Energia
SA
(a)
......
2,323,791
19,647,757
PORTUGAL
—
0
.0
%
85,113
CTT-Correios
de
Portugal
SA
(a)
...
246,475
12,196
Semapa-Sociedade
de
Investimento
e
Gestao
...................
129,527
376,002
RUSSIA
—
0
.6
%
3,531,360
Alrosa
PJSC
..................
4,637,881
1,189,126,065
Federal
Grid
Co.
Unified
Energy
System
PJSC
..............
3,369,306
4,480,742
Gazprom
PJSC
................
12,592,507
1,373,778
Gazprom
PJSC
-
ADR
...........
7,636,718
112,793
Magnit
PJSC
..................
7,298,529
532,967
Mobile
TeleSystems
PJSC
........
2,315,719
157,401,550
ROSSETI
PJSC
...............
3,314,669
1,641,600
Rostelecom
PJSC
(a)
.............
2,187,771
461,432,194
RusHydro
PJSC
...............
4,729,930
48,083,030
Shares
Value
SINGAPORE
—
0
.2
%
115,009
Asian
Pay
Television
Trust
-
Units
...
$
9,869
21,700
Best
World
International
Ltd.
(b)
...
4,130
458,500
China
Aviation
Oil
Singapore
Corp.
Ltd.
.....................
389,194
213,998
China
Sunsine
Chemical
Holdings
Ltd.
.....................
73,041
1,608,200
CSE
Global
Ltd.
...............
577,936
88,000
CW
Group
Holdings
Ltd.
(a)
(b)
....
491
47,900
Delfi
Ltd.
....................
26,368
584,900
Ezion
Holdings
Ltd.
(a)
(b)
........
3,566
238,500
Food
Empire
Holdings
Ltd.
.......
129,902
646,400
Frencken
Group
Ltd.
............
664,196
157,500
Hanwell
Holdings
Ltd.
..........
32,662
34
Ho
Bee
Land
Ltd.
..............
61
17,703
Hong
Leong
Asia
Ltd.
...........
9,805
76,000
Hyflux
Ltd.
(a)
.................
572
36,156
Hyphens
Pharma
International
Ltd.
.
8,625
194,300
iFAST
Corp.
Ltd.
..............
803,681
687,100
ISDN
Holdings
Ltd.
............
337,351
353,600
Japfa
Ltd.
....................
230,647
400,600
Midas
Holdings
Ltd.
(a)
(b)
........
10,856
81,200
Olam
International
Ltd.
..........
96,937
68,690
OM
Holdings
Ltd.
.............
45,025
78,700
Propnex
Ltd.
..................
46,462
142,000
Raffles
Medical
Group
Ltd.
.......
99,614
304,400
RHT
Health
Trust
-
Units
REIT
(a)
(b)
4,354
4,400
Riverstone
Holdings
Ltd./Singapore
.
4,960
574,495
Sheng
Siong
Group
Ltd.
.........
698,652
356,900
Singapore
Medical
Group
Ltd.
.....
100,564
110,908
XP
Power
Ltd.
.................
7,596,051
1,118,600
Yanlord
Land
Group
Ltd.
.........
922,328
12,927,900
SOUTH
AFRICA
—
0
.1
%
2,043,616
Sappi
Ltd.
(a)
..................
5,768,073
SOUTH
KOREA
—
1
.2
%
23,169
Green
Cross
Corp.
..............
8,702,764
161,394
GS
Engineering
&
Construction
Corp.
5,496,065
45,478
Hyundai
Department
Store
Co.
Ltd.
3,178,845
137,051
Hyundai
Engineering
&
Construction
Co.
Ltd.
.................
4,923,616
102,010
KB
Financial
Group,
Inc.
(a)
.......
3,683,097
94,348
Kia
Motors
Corp.
..............
6,914,593
148,364
Korea
Electric
Power
Corp.
(a)
.....
3,027,350
48,029
Korea
Shipbuilding
&
Offshore
Engineering
Co.
Ltd.
(a)
......
4,023,019
37,221
Kumho
Petrochemical
Co.
Ltd.
....
8,176,156
334,179
LG
Display
Co.
Ltd.
(a)
..........
6,496,084
64,849
LG
Electronics,
Inc.
.............
8,853,416
17,209
Lotte
Chemical
Corp.
...........
4,002,216
56,652
OCI
Co.
Ltd.
(a)
...............
4,982,118
107,201
Samsung
Electronics
Co
Ltd.
......
7,837,146
401,995
Samsung
Engineering
Co.
Ltd.
(a)
...
4,434,014
Old
Westbury
Funds,
Inc.
Small
&
Mid
Cap
Strategies
Fund
Portfolio
of
Investments
-
(Continued)
13
January
31,
2021
(Unaudited)
Shares
Value
SOUTH
KOREA
(continued)
582,404
Samsung
Heavy
Industries
Co.
Ltd.
(a)
$
3,230,830
32,924
Samsung
SDS
Co.
Ltd.
..........
5,733,235
572,093
SK
Networks
Co.
Ltd.
...........
2,638,887
3,045
Yuyang
DNU
Co.
Ltd.
(a)
(b)
......
2,491
96,335,942
SPAIN
—
0
.4
%
1,348,993
Almirall
SA
...................
18,469,648
233,146
Atresmedia
Corp.
de
Medios
de
Comunicacion
SA
(a)
........
925,707
32,327
Cia
de
Distribucion
Integral
Logista
Holdings
SA
..............
608,150
65,319
Faes
Farma
SA
.................
291,170
11,837
Laboratorios
Farmaceuticos
Rovi
SA
.
582,742
320,579
Mediaset
Espana
Comunicacion
SA
(a)
1,647,923
59,316
Pharma
Mar
SA
................
7,539,281
14,379
Prosegur
Cia
de
Seguridad
SA
.....
39,872
30,104,493
SWEDEN
—
1
.6
%
432,655
AAK
AB
.....................
8,456,569
13,424
AddNode
Group
AB
(a)
..........
423,491
700,018
Arjo
AB
-
B
Shares
..............
5,199,310
180,074
Avanza
Bank
Holding
AB
........
4,906,791
1,616
Bergman
&
Beving
AB
..........
19,299
182,854
Betsson
AB
...................
1,718,387
134,037
BHG
Group
AB
(a)
.............
2,508,339
460,839
Bilia
AB
-
A
Shares
(a)
...........
5,714,245
138,119
Bonava
AB
-
B
Shares
(a)
.........
1,459,628
248,760
Bredband2
i
Skandinavien
AB
.....
63,922
17,248
Bufab
AB
(a)
..................
388,609
21,261
Bulten
AB
(a)
..................
219,296
201,334
Byggmax
Group
AB
(a)
...........
1,327,641
376,799
Cantargia
AB
(a)
...............
2,556,674
11,411
Catella
AB
(a)
..................
45,139
80,589
Cibus
Nordic
Real
Estate
AB
......
1,571,505
225,697
Clas
Ohlson
AB
-
B
Shares
(a)
......
2,051,495
32,420
Contextvision
AB
(a)
............
77,347
382,757
Dios
Fastigheter
AB
.............
3,275,529
7,721
Doro
AB
(a)
...................
42,598
1,605
Elanders
AB
-
B
Shares
(a)
........
27,312
857,188
Elekta
AB
-
B
Shares
............
12,316,535
42,167
Enlabs
AB
(a)
..................
216,519
5,194
Ferronordic
AB
................
101,216
219,614
Fortnox
AB
...................
10,775,312
32,154
G5
Entertainment
AB
...........
1,571,513
579,275
Getinge
AB
-
B
Shares
...........
14,941,972
20,214
GHP
Specialty
Care
AB
(a)
........
58,047
113,248
Granges
AB
(a)
.................
1,300,202
102,045
Haldex
AB
(a)
.................
608,285
6,147
Hexatronic
Group
AB
(a)
.........
72,412
4,618
HMS
Networks
AB
(a)
...........
149,719
40,801
Humana
AB
(a)
................
287,955
120,422
Instalco
AB
...................
3,862,552
Shares
Value
SWEDEN
(continued)
178,191
Inwido
AB
(a)
.................
$
2,427,290
11,149
KNOW
IT
AB
(a)
..............
374,602
1,362
Lime
Technologies
AB
...........
57,957
317,746
Lindab
International
AB
.........
6,777,478
49,353
Mekonomen
AB
(a)
.............
553,539
64,325
MIPS
AB
....................
3,803,778
2,217
Momentum
Group
AB
-
Class
B
(a)
.
38,544
2,987
Mycronic
AB
..................
83,731
104,794
NCC
AB
-
B
Shares
.............
1,755,071
1,604
Nederman
Holding
AB
(a)
........
25,848
145,193
New
Wave
Group
AB
-
B
Shares
(a)
.
1,003,155
353,276
Nobia
AB
(a)
..................
2,747,723
72,281
Nolato
AB
-
B
Shares
(a)
..........
6,689,953
25,319
NP3
Fastigheter
AB
.............
379,933
253,459
Oncopeptides
AB
(a)
(c)
..........
4,584,163
69,212
Orexo
AB
(a)
..................
376,155
49,870
Paradox
Interactive
AB
...........
1,387,835
329,979
Pricer
AB
-
B
Shares
.............
1,460,808
7,176
Proact
IT
Group
AB
............
240,244
1,008,901
Ratos
AB
-
B
Shares
.............
4,639,005
76,901
RaySearch
Laboratories
AB
(a)
.....
797,028
150,108
Rottneros
AB
(a)
...............
153,560
64,590
Scandi
Standard
AB
(a)
...........
523,162
13,441
Sectra
AB
-
B
Shares
............
1,144,154
23,092
SkiStar
AB
(a)
.................
337,396
99,120
SSAB
AB
-
B
Shares
(a)
...........
381,311
4,281
Studsvik
AB
(a)
................
47,993
1,359
SwedenCare
AB
................
53,928
11,861
Systemair
AB
(a)
................
371,800
22,961
Tethys
Oil
AB
.................
142,834
3,536
Vitrolife
AB
(a)
................
93,454
9,079
Volati
AB
(a)
..................
120,068
131,888,865
SWITZERLAND
—
1
.8
%
239,208
Alcon,
Inc.
(a)
.................
17,167,330
10,009
Allreal
Holding
AG
.............
2,180,364
8,838
ALSO
Holding
AG
.............
2,372,367
52,684
Arbonia
AG
(a)
................
839,619
86,835
Ascom
Holding
AG
(a)
...........
1,485,204
1,379
Autoneum
Holding
AG
(a)
........
247,137
72,876
Baloise
Holding
AG
.............
12,203,930
2,994
Barry
Callebaut
AG
.............
6,639,739
29,937
Basilea
Pharmaceutica
AG
(a)
......
1,712,583
1,133
Belimo
Holding
AG
............
8,731,306
882
Bobst
Group
SA
...............
63,286
8,653
Bucher
Industries
AG
...........
4,094,211
13,778
Burckhardt
Compression
Holding
AG
4,760,107
606
Burkhalter
Holding
AG
..........
43,495
355
Coltene
Holding
AG
............
38,136
24,086
Comet
Holding
AG
.............
5,501,871
8,299
dormakaba
Holding
AG
.........
4,973,917
1,106,226
Ferrexpo
Plc
..................
4,265,458
Old
Westbury
Funds,
Inc.
Small
&
Mid
Cap
Strategies
Fund
Portfolio
of
Investments
-
(Continued)
14
January
31,
2021
(Unaudited)
Shares
Value
SWITZERLAND
(continued)
262
Forbo
Holding
AG
.............
$
446,096
1,014
Georg
Fischer
AG
..............
1,266,619
19,179
Huber
+
Suhner
AG
............
1,579,772
69,394
Implenia
AG
..................
1,941,074
52
Ina
Invest
Holding
AG
(a)
........
1,067
1,339
Investis
Holding
SA
.............
132,155
14
LEM
Holding
SA
..............
28,633
41,591
Logitech
International
S.A.
.......
4,319,582
10,263
Lonza
Group
AG
...............
6,554,975
92
Metall
Zug
AG
................
166,103
259
Orell
Fuessli
AG
...............
31,085
734
Peach
Property
Group
AG
(a)
......
35,258
135
Phoenix
Mecano
AG
............
71,349
42,653
PSP
Swiss
Property
AG
..........
5,456,970
508,421
Quotient
Ltd.
(a)
...............
3,081,031
213
Schweiter
Technologies
AG
.......
368,340
12,704
SFS
Group
AG
................
1,605,401
14,065
Siegfried
Holding
AG
...........
10,173,383
1,106
Sulzer
AG
....................
119,148
2,367
Swissquote
Group
Holding
SA
.....
257,100
29,966
Tecan
Group
AG
...............
14,498,649
86,248
Temenos
AG
..................
10,890,707
26,830
u-blox
Holding
AG
.............
2,109,757
15,662
Vontobel
Holding
AG
...........
1,265,402
3,202
VZ
Holding
AG
...............
270,136
920
V-ZUG
Holding
AG
(a)
..........
92,260
3,523
Ypsomed
Holding
AG
...........
595,417
14,789
Zehnder
Group
AG
.............
1,081,750
145,759,279
TAIWAN
—
1
.4
%
6,172,000
Acer,
Inc.
....................
5,943,548
11,720,000
AU
Optronics
Corp.
(a)
..........
6,162,824
1,668,559
Cheng
Shin
Rubber
Industry
Co.
Ltd.
2,375,409
6,497,650
China
Petrochemical
Development
Corp.
...................
2,142,259
4,939,000
Compal
Electronics,
Inc.
.........
3,777,736
1,645,000
ENNOSTAR,
Inc.
(a)
............
4,846,442
1,067,000
Everlight
Electronics
Co.
Ltd.
.....
1,578,635
10,345,000
HannStar
Display
Corp.
(a)
.......
4,462,603
1,644,000
Hon
Hai
Precision
Industry
Co.
Ltd.
6,538,366
1,227,000
HTC
Corp.
(a)
.................
1,242,224
13,550,000
Innolux
Corp.
.................
6,295,156
2,741,431
International
CSRC
Investment
Holdings
Co.
..............
2,258,406
4,243,000
Inventec
Corp.
................
3,522,887
1,189,000
Kinsus
Interconnect
Technology
Corp.
3,310,073
1,363,000
Pegatron
Corp.
................
3,814,011
6,722,000
Qisda
Corp.
..................
6,860,449
16,877,894
Shin
Kong
Financial
Holding
Co.
Ltd.
4,843,523
10,961
Sino-American
Electronic
Co.
Ltd.
(a)
(b)
......................
0
19,028,646
United
Microelectronics
Corp.
.....
34,094,842
Shares
Value
TAIWAN
(continued)
5,777,000
Winbond
Electronics
Corp.
.......
$
5,437,053
44,673
Wintek
Corp.
(a)
(b)
.............
547
4,812,696
Wistron
Corp.
.................
5,362,614
114,869,607
THAILAND
—
0
.4
%
11,240,500
Banpu
Public
Co.
Ltd.
...........
3,883,165
110,962
Fabrinet
(a)
...................
8,759,340
27,214,907
IRPC
Public
Co.
Ltd.
-
FOR
......
3,073,213
5,002,000
Italian-Thai
Development
Public
Co.
Ltd.
-
FOR
(a)
.............
172,984
3,299,558
PTT
Global
Chemical
Public
Co.
Ltd.
-
FOR
...................
6,469,458
3,229,183
Thai
Oil
Public
Co.
Ltd.
-
FOR
....
5,836,244
28,194,404
TURKEY
—
0
.6
%
1,536,106
Arcelik
AS
(a)
..................
6,910,573
6,634,452
Dogan
Sirketler
Grubu
Holding
AS
.
3,515,231
16,225,567
Emlak
Konut
Gayrimenkul
Yatirim
Ortakligi
AS
REIT
..........
5,339,783
4,031,787
Eregli
Demir
ve
Celik
Fabrikalari
TAS
7,878,273
7,551,154
Petkim
Petrokimya
Holding
AS
(a)
..
5,162,238
1,452,781
Tekfen
Holding
AS
.............
3,567,552
244,987
Tupras
Turkiye
Petrol
Rafinerileri
AS
(a)
....................
3,311,912
1,709,828
Turkcell
Iletisim
Hizmetleri
AS
....
3,744,254
4,128,219
Turkiye
Is
Bankasi
AS
(a)
.........
3,444,137
10,234,778
Yapi
ve
Kredi
Bankasi
AS
(a)
.......
3,981,251
46,855,204
UNITED
ARAB
EMIRATES
—
0
.0
%
833
NMC
Health
Plc
(a)
.............
400
UNITED
KINGDOM
—
6
.9
%
37,499
4imprint
Group
Plc
(a)
...........
1,224,935
12,026
accesso
Technology
Group
Plc
(a)
...
69,171
58,713
Accrol
Group
Holdings
Plc
(a)
.....
47,465
1,772,269
Adaptimmune
Therapeutics
Plc
-
ADR
(a)
..................
9,676,589
8,010
AG
Barr
Plc
(a)
.................
53,629
227,306
Aggreko
Plc
...................
1,802,891
267,468
AO
World
Plc
(a)
...............
1,138,571
449
Aptitude
Software
Group
Plc
......
3,642
10,408
Argentex
Group
Plc
.............
16,822
372,384
ASOS
Plc
(a)
..................
22,752,614
244,943
AVEVA
Group
Plc
..............
12,156,354
1,922,692
B&M
European
Value
Retail
SA
...
14,053,892
1,461,740
Balfour
Beatty
Plc
(a)
............
5,382,613
27,727
Bloomsbury
Publishing
Plc
.......
115,754
3,002,402
boohoo
Group
Plc
(a)
............
13,880,001
692,883
Britvic
Plc
....................
7,051,153
54,885
Cairn
Energy
Plc
...............
135,397
182,382
Central
Asia
Metals
Plc
..........
546,527
Old
Westbury
Funds,
Inc.
Small
&
Mid
Cap
Strategies
Fund
Portfolio
of
Investments
-
(Continued)
15
January
31,
2021
(Unaudited)
Shares
Value
UNITED
KINGDOM
(continued)
7,207,362
Centrica
Plc
(a)
................
$
5,093,157
234,408
Chemring
Group
Plc
............
947,356
14,041
Chesnara
Plc
..................
53,651
47,558
Clinigen
Group
Plc
.............
495,846
4,767
Clipper
Logistics
Plc
............
35,004
124,186
CLS
Holdings
Plc
..............
363,897
63,918
Computacenter
Plc
.............
2,046,173
61,383
Concentric
AB
................
1,340,309
5,508,819
ConvaTec
Group
Plc
(c)
..........
15,072,245
4,140
CRANEWARE
Plc
.............
127,798
25,982
Custodian
Plc
REIT
............
33,107
6,716
CVS
Group
Plc
(a)
..............
140,527
3,562
Daily
Mail
&
General
Trust
Plc
-
Class
A
......................
37,424
394,700
Dart
Group
Plc
(a)
..............
7,105,369
39,847
De
La
Rue
Plc
(a)
...............
90,126
2,438
Devro
Plc
....................
5,708
323,331
Dialog
Semiconductor
Plc
(a)
......
20,353,084
40,387
Dignity
Plc
(a)
.................
317,405
2,158,568
Dixons
Carphone
Plc
(a)
..........
3,238,909
7,075
dotdigital
group
plc
.............
17,174
2,427,734
Drax
Group
Plc
................
12,396,850
1,415,221
Electrocomponents
Plc
..........
16,949,075
429,134
Elementis
Plc
(a)
...............
646,692
79,118
EMIS
Group
Plc
...............
1,251,815
1,306
Epwin
Group
Plc
(a)
.............
1,607
15,595
Ergomed
Plc
(a)
................
230,287
135,738
FDM
Group
Holdings
Plc
........
1,856,391
187,430
Fevertree
Drinks
Plc
............
6,251,848
17,908
Frontier
Developments
Plc
(a)
......
773,736
16,310
Games
Workshop
Group
Plc
......
2,301,507
10,948
Gamma
Communications
Plc
.....
240,213
26,761
GB
Group
Plc
.................
312,684
235,343
Genus
Plc
....................
15,808,656
113,814
Go-Ahead
Group
Plc
(The)
(a)
.....
1,531,324
495,269
Gulf
Keystone
Petroleum
Ltd.
(a)
...
905,275
483,276
Halfords
Group
Plc
.............
1,804,055
902,783
Hays
Plc
(a)
...................
1,727,716
67,140
Headlam
Group
Plc
(a)
...........
360,133
5,118
Hill
&
Smith
Holdings
Plc
.......
94,472
601,857
HomeServe
Plc
................
8,579,912
1,343,842
Howden
Joinery
Group
Plc
(a)
.....
12,321,579
94,451
Hummingbird
Resources
Plc
(a)
....
40,141
65,398
Hunting
Plc
..................
178,653
28,495
IG
Group
Holdings
Plc
..........
292,018
359,552
IMI
Plc
......................
6,119,075
116,985
Impact
Healthcare
Plc
REIT
......
184,376
595,596
Inchcape
Plc
(a)
................
5,398,112
243,011
Indivior
Plc
(a)
.................
455,669
533,979
IntegraFin
Holdings
Plc
..........
3,994,842
367,674
International
Personal
Finance
Plc
(a)
403,134
171,768
ITV
Plc
(a)
....................
248,306
1,071,272
JD
Sports
Fashion
Plc
(a)
.........
10,905,020
Shares
Value
UNITED
KINGDOM
(continued)
4,044
Judges
Scientific
Plc
.............
$
354,709
1,376,845
Just
Group
Plc
(a)
...............
1,436,156
229,063
Kainos
Group
Plc
..............
3,884,861
42,201
Keller
Group
Plc
...............
437,937
360,123
Lookers
Plc
(a)
.................
194,902
34,675
LoopUp
Group
Plc
(a)
...........
35,641
102,044
M&G
Plc
....................
244,809
776,186
Marks
&
Spencer
Group
Plc
(a)
....
1,499,133
20,113
McBride
Plc
..................
21,716
950,169
Micro
Focus
International
Plc
(a)
...
5,730,225
195,966
Mitie
Group
Plc
(a)
.............
128,435
471,738
Moneysupermarket.com
Group
Plc
.
1,720,660
21,090
Morgan
Sindall
Group
Plc
........
427,038
3,859
Naked
Wines
Plc
(a)
.............
37,901
115,107
NCC
Group
Plc
...............
388,271
1,724
Next
Fifteen
Communications
Group
Plc
(a)
...................
14,607
307,405
Ninety
One
Plc
................
981,139
484
Norcros
Plc
(a)
.................
1,402
3,144,199
Ocado
Group
Plc
(a)
............
119,356,319
177,815
Orchard
Therapeutics
plc
-
ADR
(a)
.
1,022,436
395,708
Oxford
Biomedica
Plc
(a)
.........
5,304,348
40,731
Oxford
Instruments
Plc
(a)
........
1,099,943
96,831
Oxford
Metrics
Plc
.............
119,990
47,725
Pagegroup
Plc
(a)
...............
293,162
5,827
Patisserie
Holdings
Plc
(a)
(b)
.......
0
169,152
PayPoint
Plc
..................
1,437,810
468,448
Pets
at
Home
Group
Plc
.........
2,568,239
36,579
Photo-Me
International
Plc
(a)
.....
23,490
66,867
Polar
Capital
Holdings
Plc
........
586,866
151,585
Premier
Foods
Plc
(a)
............
194,137
101,142
Rank
Group
Plc
...............
172,420
36,420
Rathbone
Brothers
Plc
...........
799,393
96,275
Reach
Plc
(a)
..................
252,813
139,528
Renishaw
Plc
(a)
................
11,430,583
6,844,951
Rentokil
Initial
Plc
(a)
...........
46,455,573
1,139,483
Rightmove
Plc
(a)
...............
9,327,578
12,337
RM
Plc
(a)
....................
37,106
14,847
Robert
Walters
Plc
..............
112,081
4,202,111
Rotork
Plc
....................
18,635,816
2,214,619
Royal
Mail
Plc
(a)
...............
12,234,565
131,903
RPS
Group
Plc
(a)
..............
131,807
119,957
Safestore
Holdings
Plc
REIT
......
1,328,187
32,335
Scapa
Group
Plc
(a)
.............
96,532
38,534
SDI
Group
PLC
(a)
.............
60,462
185,138
Senior
Plc
(a)
..................
240,995
115,779
SIG
Plc
(a)
....................
45,707
16,957
Softcat
Plc
....................
349,166
47,327
Speedy
Hire
Plc
(a)
..............
43,392
567,901
Spirent
Communications
Plc
......
1,848,285
290,075
Sports
Direct
International
Plc
(a)
...
1,690,889
977,212
SSP
Group
Plc
................
3,865,326
609,385
St.
James's
Place
Plc
.............
9,752,590
Old
Westbury
Funds,
Inc.
Small
&
Mid
Cap
Strategies
Fund
Portfolio
of
Investments
-
(Continued)
16
January
31,
2021
(Unaudited)
Shares
Value
UNITED
KINGDOM
(continued)
881,091
Stagecoach
Group
Plc
...........
$
890,558
109,870
SThree
Plc
(a)
..................
483,704
18,743
Stock
Spirits
Group
Plc
..........
69,726
6,610
Stolt-Nielsen
Ltd.
..............
91,584
40,218
Sumo
Group
Plc
(a)
.............
193,413
382,668
Tate
&
Lyle
Plc
................
3,604,208
36,271
Team17
Group
Plc
(a)
...........
398,460
27,313
Ted
Baker
Plc
(a)
...............
37,647
116,147
Telit
Communications
Plc
(a)
......
325,872
385,836
TP
ICAP
Plc
..................
1,176,287
1,499,224
Trainline
Plc
(a)
(c)
..............
8,348,910
29,200
Travis
Perkins
Plc
(a)
.............
537,349
1,633
Treatt
Plc
....................
20,492
96,053
Tyman
Plc
(a)
..................
455,081
45,570
Ultra
Electronics
Holdings
Plc
.....
1,241,494
914,512
Vectura
Group
Plc
(a)
............
1,461,155
60,862
Vertu
Motors
Plc
...............
26,302
57,461
Vesuvius
Plc
..................
390,823
185,045
Victrex
Plc
...................
5,915,517
394
Vitec
Group
Plc
(The)
(a)
.........
5,154
156,052
Volex
Plc
.....................
690,188
38,096
Volution
Group
Plc
(a)
...........
151,979
118,860
Watkin
Jones
Plc
...............
318,594
11,155
Wincanton
Plc
................
44,145
7,188
Xaar
Plc
(a)
...................
13,279
454,777
YouGov
Plc
...................
6,392,065
563,328,996
UNITED
STATES
—
47
.0
%
847,805
A.O.
Smith
Corp.
..............
46,035,811
31,758
Acceleron
Pharma,
Inc.
(a)
........
3,669,002
403,602
Advance
Auto
Parts,
Inc.
.........
60,193,202
159,744
AeroVironment,
Inc.
(a)
..........
18,333,819
60,000
Albany
International
Corp.
-
Class
A
4,171,200
399,092
Alnylam
Pharmaceuticals,
Inc.
(a)
...
60,055,364
510,000
Altra
Industrial
Motion
Corp.
.....
26,219,100
87,999
Ambarella,
Inc.
(a)
..............
8,303,586
156,972
ANSYS,
Inc.
(a)
................
55,626,168
306,699
Appian
Corp.
(a)
...............
67,001,463
344,242
AptarGroup,
Inc.
...............
45,773,859
334,500
Aspen
Technology,
Inc.
(a)
........
44,789,550
435,000
AtriCure,
Inc.
(a)
...............
25,330,050
700,000
Avanos
Medical,
Inc.
(a)
..........
31,710,000
254,575
Axogen,
Inc.
(a)
................
4,416,876
145,712
Axon
Enterprise,
Inc.
(a)
..........
23,920,082
255,000
B&G
Foods,
Inc.
...............
9,710,400
560,000
Barnes
Group,
Inc.
.............
26,919,200
207,681
Benefitfocus,
Inc.
(a)
.............
2,554,476
155,000
Blackbaud,
Inc.
................
10,305,950
307,574
Blackline,
Inc.
(a)
...............
39,867,742
200,000
Bryn
Mawr
Bank
Corp.
..........
6,216,000
228,726
Burlington
Stores,
Inc.
(a)
.........
56,929,901
400,000
Cantel
Medical
Corp.
...........
31,588,000
Shares
Value
UNITED
STATES
(continued)
620,000
Cardiovascular
Systems,
Inc.
(a)
....
$
27,893,800
66,100
Cardlytics,
Inc.
(a)
..............
8,082,047
462,990
CDW
Corp.
..................
60,957,263
105,521
CEVA,
Inc.
(a)
.................
6,203,580
65,000
Chase
Corp.
..................
6,515,600
522,676
Chegg,
Inc.
(a)
.................
49,790,116
146,063
Chinook
Therapeutics,
Inc.
(a)
.....
2,069,713
1,061,321
Cloudera,
Inc.
(a)
...............
16,206,372
394,830
CMC
Materials,
Inc.
............
58,162,407
1,241,194
Codexis,
Inc.
(a)
................
28,907,408
210,000
Community
Bank
System,
Inc.
....
13,618,500
345,000
CONMED
Corp.
..............
38,605,500
221,499
Cooper
Cos,
Inc.
(The)
..........
80,634,496
184,222
Cree,
Inc.
(a)
..................
18,621,160
75,000
CSW
Industrials,
Inc.
...........
8,739,000
525,000
CVB
Financial
Corp.
............
10,200,750
194,873
Digimarc
Corp.
(a)
..............
7,572,765
470,900
Dover
Corp.
..................
54,855,141
750,000
elf
Beauty,
Inc.
(a)
..............
16,320,000
140,000
Envestnet,
Inc.
(a)
..............
10,742,200
159,750
Envista
Holdings
Corp.
(a)
........
5,677,515
363,098
Equifax,
Inc.
..................
64,308,287
140,876
Everbridge,
Inc.
(a)
..............
18,726,647
185,122
EverQuote,
Inc.
-
Class
A
(a)
.......
8,341,597
992,050
Evoqua
Water
Technologies
Corp.
(a)
27,033,362
240,582
Exact
Sciences
Corp.
(a)
..........
32,998,227
108,967
FARO
Technologies,
Inc.
(a)
.......
7,689,801
116,500
First
Solar,
Inc.
(a)
..............
11,550,975
466,246
Flexion
Therapeutics,
Inc.
(a)
......
5,674,214
30,000
Freshpet,
Inc.
(a)
...............
4,179,300
75,000
Generac
Holdings,
Inc.
(a)
........
18,481,500
250,000
German
American
Bancorp,
Inc.
...
8,457,500
153,747
Glaukos
Corp.
(a)
...............
13,635,821
172,950
Global
Blood
Therapeutics,
Inc.
(a)
..
8,668,254
220,000
Globus
Medical,
Inc.
-
Class
A
(a)
...
13,571,800
125,000
HB
Fuller
Co.
.................
6,361,250
209,400
HEICO
Corp.
.................
24,654,756
206,867
Heron
Therapeutics,
Inc.
(a)
.......
3,591,211
2,165,000
Hostess
Brands,
Inc.
(a)
..........
33,232,750
863,645
IAA,
Inc.
(a)
...................
49,348,675
260,000
Independent
Bank
Corp.
.........
19,520,800
266,524
Ingersoll
Rand,
Inc.
(a)
...........
11,151,364
160,000
Innospec,
Inc.
.................
14,046,400
239,557
Insmed,
Inc.
(a)
................
9,004,948
147,437
Inspire
Medical
Systems,
Inc.
(a)
....
29,710,030
582,050
Integra
LifeScience
Holdings
Corp.
(a)
38,438,582
481,689
Intersect
ENT,
Inc.
(a)
...........
10,823,552
76,268
IPG
Photonics
Corp.
(a)
..........
17,040,559
141,141
iRobot
Corp.
(a)
................
16,951,034
120,000
J&J
Snack
Foods
Corp.
..........
18,319,200
345,000
John
Bean
Technologies
Corp.
.....
39,978,600
475,000
John
Wiley
&
Sons,
Inc.
-
Class
A
..
21,664,750
139,760
L3Harris
Technologies,
Inc.
.......
23,970,238
Old
Westbury
Funds,
Inc.
Small
&
Mid
Cap
Strategies
Fund
Portfolio
of
Investments
-
(Continued)
17
January
31,
2021
(Unaudited)
Shares
Value
UNITED
STATES
(continued)
253,535
Laboratory
Corp.
of
America
Holdings
(a)
...............
$
58,036,697
200,000
Lancaster
Colony
Corp.
..........
34,916,000
104,563
Legend
Biotech
Corp.
-
ADR
(a)
....
2,642,307
134,240
LendingTree,
Inc.
(a)
............
43,697,805
252,660
LivePerson,
Inc.
(a)
..............
16,008,538
217,246
LiveRamp
Holdings,
Inc.
(a)
.......
16,447,695
32,577
Madrigal
Pharmaceuticals,
Inc.
(a)
...
3,868,844
113,141
MarketAxess
Holdings,
Inc.
.......
61,182,127
35,000
Masimo
Corp.
(a)
...............
8,957,200
433,716
Match
Group,
Inc.
(a)
............
60,659,520
638,559
MaxCyte,
Inc.
(a)
...............
5,861,102
940,000
Medallia,
Inc.
(a)
...............
39,010,000
290,000
MGP
Ingredients,
Inc.
...........
16,791,000
322,851
Model
N,
Inc.
(a)
...............
10,970,477
195,000
MSA
Safety,
Inc.
...............
30,443,400
437,715
Nasdaq,
Inc.
..................
59,209,708
350,000
National
Vision
Holdings,
Inc.
(a)
...
16,229,500
463,000
New
Relic,
Inc.
(a)
..............
34,808,340
90,000
Omnicell,
Inc.
(a)
...............
10,602,000
17,615
Outset
Medical,
Inc.
(a)
..........
912,985
285,647
Pacira
BioSciences,
Inc.
(a)
........
18,875,554
140,000
Palomar
Holdings,
Inc.
(a)
........
13,942,600
75,597
Paycom
Software,
Inc.
(a)
.........
28,707,205
85,000
Penumbra,
Inc.
(a)
..............
22,192,650
690,000
Pluralsight,
Inc.
(a)
..............
14,352,000
460,000
Prestige
Consumer
Healthcare,
Inc.
(a)
18,400,000
225,000
Prosperity
Bancshares,
Inc.
........
15,174,000
55,867
Protara
Therapeutics,
Inc.
(a)
.......
1,004,489
1,950,000
Pure
Storage,
Inc.
-
Class
A
(a)
.....
45,103,500
3,304,860
PureTech
Health
Plc
(a)
..........
18,016,066
476,947
Q2
Holdings,
Inc.
(a)
............
61,044,446
16,027
Reata
Pharmaceuticals,
Inc.
(a)
.....
1,660,237
95,047
Rubius
Therapeutics,
Inc.
(a)
.......
1,137,713
565,000
SailPoint
Technologies
Holding,
Inc.
(a)
...................
31,250,150
1,000,000
Sally
Beauty
Holdings,
Inc.
(a)
.....
15,100,000
48,648
Seagen,
Inc.
(a)
.................
7,991,407
300,000
Selective
Insurance
Group,
Inc.
....
19,494,000
365,000
Sensient
Technologies
Corp.
.......
25,743,450
83,304
Shockwave
Medical,
Inc.
(a)
.......
9,666,596
1,183,870
Simply
Good
Foods
Co.
(The)
(a)
...
33,787,650
94,163
Splunk,
Inc.
(a)
................
15,539,720
639,625
SS&C
Technologies
Holdings,
Inc.
..
40,219,620
452,640
STAAR
Surgical
Co.
(a)
..........
46,431,811
130,000
Standex
International
Corp.
.......
10,648,300
313,935
STERIS
Plc
...................
58,740,378
168,550
Stock
Yards
Bancorp,
Inc.
.........
7,618,460
247,050
Stratasys
Ltd.
(a)
................
10,255,045
268,027
Synopsys,
Inc.
(a)
...............
68,467,497
119,491
Tabula
Rasa
HealthCare,
Inc.
(a)
....
6,785,894
300,260
Tactile
Systems
Technology,
Inc.
(a)
..
16,379,183
230,584
Teladoc
Health,
Inc.
(a)
..........
60,834,977
Shares
Value
UNITED
STATES
(continued)
169,153
Teleflex,
Inc.
..................
$
63,877,247
625,000
Tenable
Holdings,
Inc.
(a)
.........
30,931,250
98,380
Tesla,
Inc.
(a)
..................
78,067,481
450,000
TreeHouse
Foods,
Inc.
(a)
.........
19,003,500
665,770
TriMas
Corp.
(a)
...............
21,071,620
234,121
Trupanion,
Inc.
(a)
..............
26,268,376
297,100
UMB
Financial
Corp.
...........
21,085,187
707,039
Upwork,
Inc.
(a)
................
29,306,767
1,626,220
US
Foods
Holding
Corp.
(a)
.......
50,396,558
345,000
Utz
Brands,
Inc.
...............
8,135,100
150,000
Vapotherm,
Inc.
(a)
.............
5,182,500
345,580
Veeco
Instruments,
Inc.
(a)
........
6,379,407
187,700
Verisk
Analytics,
Inc.
............
34,442,950
2,038,429
ViewRay,
Inc.
(a)
...............
9,050,625
150,000
Washington
Trust
Bancorp,
Inc.
....
6,537,000
88,181
Wayfair,
Inc.
-
Class
A
(a)
.........
24,013,450
332,995
WEX,
Inc.
(a)
.................
62,802,857
61,565
Wingstop,
Inc.
................
9,237,828
711,945
Wolverine
World
Wide,
Inc.
......
20,390,105
145,000
Workiva,
Inc.
(a)
...............
14,133,150
665,820
Wyndham
Hotels
&
Resorts,
Inc.
...
38,730,749
2,499,956
Yext,
Inc.
(a)
...................
42,174,258
111,597
Zillow
Group,
Inc.
-
Class
A
(a)
....
15,480,736
444,250
Zillow
Group,
Inc.
-
Class
C
(a)
....
57,956,855
36,467
Zscaler,
Inc.
(a)
.................
7,282,460
649,312
Zuora,
Inc.
-
Class
A
(a)
..........
9,577,352
3,858,477,329
VIETNAM
—
0
.0
%
794,673
PetroVietnam
Drilling
&
Well
Services
JSC
(a)
...................
605,420
563,790
Vietnam
National
Petroleum
Group
.
1,194,459
1,799,879
Total
Common
Stocks
(Cost
$5,267,275,949)
7,430,605,962
RIGHTS/WARRANTS
—
0.0%
AUSTRALIA
—
0
.0
%
1,710
Centrebet
Litigation
Rights,
12/01/49
(a)
(b)
.............
0
1,710
Centrebet
Litigation
Units
Rights,
Expire
12/01/49
(a)
(b)
.......
0
0
AUSTRIA
—
0
.0
%
9,812
Intercell
Contigent
Value
Rights
AG,
Expire
05/22/29
(a)
(b)
.......
0
SINGAPORE
—
0
.0
%
169,647
Ezion
Holdings
Ltd.
Warrants,
Expire
04/16/23
(a)
...............
0
Old
Westbury
Funds,
Inc.
Small
&
Mid
Cap
Strategies
Fund
Portfolio
of
Investments
-
(Continued)
18
January
31,
2021
(Unaudited)
The
following
abbreviations
are
used
in
the
report:
Shares
Value
UNITED
STATES
—
0
.0
%
146,063
Aduro
Biotech
CVR
Rights,
Expire
12/31/21
(a)
(b)
.............
$
0
9,600
Ligand
Pharmaceuticals
Contingent
Value
Rights
(a)
(b)
..........
0
0
Total
Rights/Warrants
(Cost
$0)
0
EXCHANGE-TRADED
FUNDS
—
6.0%
456,925
iShares
Core
S&P
Small-Cap
ETF
..
44,582,172
747,000
iShares
MSCI
Emerging
Markets
ETF
39,822,570
260,285
iShares
MSCI
Japan
ETF
.........
17,436,492
49,805
iShares
Russell
2000
ETF
.........
10,237,916
213,600
iShares
Russell
Mid-Cap
Growth
ETF
21,842,736
437,080
Vanguard
Mid-Cap
ETF
.........
89,946,693
974,500
Vanguard
Small-Cap
Growth
ETF
..
266,506,260
Total
Exchange-Traded
Funds
(Cost
$295,847,456)
490,374,839
INVESTMENT
COMPANY
—
0.1%
11,760,358
SEI
Daily
Income
Trust
Government
II
Fund
-
Class
A
,
0
.01
%
(d)
...
11,760,358
Total
Investment
Company
(Cost
$11,760,358)
11,760,358
CASH
SWEEP
—
2.0%
166,034,980
Citibank
-
US
Dollars
on
Deposit
in
Custody
Account
,
0
.03
%
(a)
(d)
.
166,034,980
Total
Cash
Sweep
(Cost
$166,034,980)
166,034,980
TOTAL
INVESTMENTS
—
98.6%
(Cost
$5,740,918,743)
$
8,098,776,139
OTHER
ASSETS
IN
EXCESS
OF
LIABILITIES
—
1.4%
110,965,050
NET
ASSETS
—
100.0%
$
8,209,741,189
(a)
Non-income
producing
security.
(b)
Security
is
valued
using
significant
unobservable
inputs
and
is
classified
as
Level
3
in
the
fair
value
hierarchy.
The
aggregate
value
of
fair
valued
securities
is
$122,586
which
is
0.00%
of
net
assets
and
the
cost
is
$2,416,171.
(c)
Security
exempt
from
registration
under
Rule
144A
of
the
Securities
Act
of
1933,
as
amended.
The
security
may
be
resold
in
transactions
exempt
from
registration
normally
to
qualified
institutional
buyers.
The
security
has
been
determined
to
be
liquid
in
accordance
with
procedures
adopted
by
the
Fund’s
Board
of
Directors.
(d)
The
rate
shown
represents
the
current
yield
as
of
January
31,
2021.
ADR
—
American
Depositary
Receipt
CVR
—
Contingent
Value
Right
ETF
—
Exchange
-Traded
Fund
FOR
—
Foreign
Ownership
Restrictions
MSCI
—
Morgan
Stanley
Capital
International
Index
REIT
—
Real
Estate
Investment
Trust
VVPR
—
Voter
Verified
Paper
Record
Portfolio
Diversification
by
Country
(Unaudited)
Country:
Percentage
of
Net
Assets
Argentina
...................................
0
.5
%
Australia
....................................
2
.0
Austria
.....................................
0
.0
*
Belgium
....................................
0
.3
Bermuda
....................................
0
.4
Brazil
......................................
0
.3
Canada
.....................................
2
.3
China
......................................
3
.5
Costa
Rica
...................................
0
.0
*
Denmark
...................................
1
.5
Finland
.....................................
0
.9
France
......................................
0
.6
Germany
....................................
2
.2
Greece
.....................................
0
.1
Hong
Kong
..................................
0
.4
Iceland
.....................................
0
.1
India
.......................................
0
.5
Indonesia
...................................
0
.0
*
Ireland
.....................................
0
.2
Israel
.......................................
2
.2
Italy
.......................................
0
.6
Japan
......................................
7
.1
Jersey
Channel
Islands
..........................
0
.5
Netherlands
..................................
1
.2
New
Zealand
.................................
0
.6
Norway
.....................................
0
.1
Peru
.......................................
0
.0
*
Poland
.....................................
0
.2
Portugal
....................................
0
.0
*
Russia
......................................
0
.6
Singapore
...................................
0
.2
South
Africa
.................................
0
.1
South
Korea
.................................
1
.2
Spain
......................................
0
.4
Sweden
.....................................
1
.6
Switzerland
..................................
1
.8
Taiwan
.....................................
1
.4
Thailand
....................................
0
.4
Turkey
.....................................
0
.6
United
Arab
Emirates
..........................
0
.0
*
United
Kingdom
..............................
6
.9
United
States
.................................
47
.0
Old
Westbury
Funds,
Inc.
Small
&
Mid
Cap
Strategies
Fund
Portfolio
of
Investments
-
(Continued)
19
January
31,
2021
(Unaudited)
Country:
Percentage
of
Net
Assets
Vietnam
....................................
0
.0
%
*
Other
**
.....................................
9
.5
100
.0
%
*
Represents
less
than
0.01%
of
net
assets.
**
Includes
cash
and
equivalents,
exchange
traded
funds,
rights/warrants,
investment
company,
pending
trades
and
Fund
share
transactions,
interest
and
dividends
receivable,
prepaids
and
accrued
expenses
payable.