William Blair Emerging Markets Small Cap Growth Fund

Fund Holdings

Asset Allocation

% Long % Short % Net
Cash 0.94 0.0 0.94
Stocks 0.58 0.0 0.58
Bonds 0.0 0.0 0.0
Other 2.99 0.0 2.99
Foreign Bonds 0.0 0.0 0.0
Foreign Stocks 95.49 0.0 95.49
Convertible 0.0 0.0 0.0
Preferred 0.0 0.0 0.0

Updated 02.28.2014

Top 10 Holdings

Performance as of 03.31.2014

Portfolio as of 02.28.2014

Ticker YTD Return % % Net Assets
Safaricom Ltd. SCOM --- 2.64
Vipshop Holdings Ltd ADR VIPS 90.8 1.82
Kroton Educacional S.A. KROTF --- 1.78
Bank Millennium S.A. MIL --- 1.72
Coronation Fund Managers Ltd. CML --- 1.68
Hiwin Technologies Corp 2049 --- 1.68
LPP S.A. LPP --- 1.68
Estacio Participacoes S.A. ESTC3 --- 1.66
Hollysys Automation Technologies, Ltd. HOLI 14.16 1.6
Airtac International Group 1590 --- 1.59