Old
Westbury
Funds,
Inc.
Municipal
Bond
Fund
Portfolio
of
Investments
-
(Continued)
1
July
31,
2022
(Unaudited)
Old
Westbury
Funds,
Inc.
Municipal
Bond
Fund
Portfolio
of
Investments
July
31,
2022
(Unaudited)
Principal
Amount
Value
MUNICIPAL
BONDS
—
90.4%
Alabama
—
0.6%
$
2,000,000
Alabama
Federal
Aid
Highway
Finance
Authority
Highway
Improvements
Revenue
Bonds,
Series
A,
5.00%,
09/01/22
...........
$
2,005,894
1,500,000
Alabama
Public
School
&
College
Authority
Advance
Refunding
Revenue
Bonds,
Series
B,
5.00%,
05/01/24
...........
1,585,383
3,660,000
City
of
Huntsville
School
Capital
Improvements
Warrants
Refunding
GO,
5.00%,
09/01/26
...........
3,901,703
1,500,000
City
of
Huntsville
Warrants
Refunding
GO,
Series
A,
5.00%,
08/01/26(a)
.........
1,595,609
13,000,000
Water
Works
Board
of
the
City
of
Birmingham
Water
Utility
Improvements
Revenue
Bonds,
Series
B,
5.00%,
01/01/45(a)
.........
14,012,669
23,101,258
Arizona
—
0.8%
1,715,000
Arizona
Board
of
Regents
Advance
Refunding
COP,
Series
A,
5.00%,
06/01/24
...........
1,813,677
2,390,000
Arizona
School
Facilities
Board
Advance
Refunding
COP,
Series
A,
5.00%,
09/01/23
...........
2,478,679
1,250,000
Arizona
Water
Infrastructure
Finance
Authority
Refunding
Revenue
Bonds,
Series
A,
5.00%,
10/01/26
...........
1,335,223
8,950,000
Salt
River
Project
Agricultural
Improvement
&
Power
District
Advance
Refunding
Revenue
Bonds,
5.00%,
01/01/30
...........
10,282,713
6,470,000
Salt
River
Project
Agricultural
Improvement
&
Power
District
Electric
Light
&
Power
Improvements
Revenue
Bonds,
Series
A,
5.00%,
01/01/23
...........
6,564,837
5,000,000
Town
of
Gilbert
Public
Improvements
GO,
5.00%,
07/15/23
...........
5,165,995
Principal
Amount
Value
Arizona
(continued)
$
5,250,000
Town
of
Gilbert
Public
Improvements
GO,
5.00%,
07/15/25
...........
$
5,757,459
33,398,583
Arkansas
—
0.2%
7,250,000
State
of
Arkansas
Public
Improvements
GO,
5.00%,
10/01/26
...........
7,755,492
California
—
5.0%
5,000,000
Bay
Area
Toll
Authority
Refunding
Revenue
Bonds,
Series
B2,
1.25%,
04/01/47(b)
.........
5,000,000
5,235,000
City
of
Los
Angeles
Department
of
Airports
Airport
&
Marina
Improvements
Revenue
Bonds,
Series
D,
5.00%,
05/15/27
...........
5,834,810
5,000,000
City
of
Los
Angeles
Department
of
Airports
Airport
&
Marina
Improvements
Revenue
Bonds,
Series
D,
5.00%,
05/15/28
...........
5,634,954
8,250,000
City
of
Los
Angeles
Department
of
Airports
Airport
&
Marina
Improvements
Revenue
Bonds,
Series
D,
5.00%,
05/15/30
...........
9,492,853
1,500,000
County
of
San
Bernardino
CA
Arrow
Head
Project
Current
Refunding
COP,
Series
A,
5.00%,
10/01/23
...........
1,557,760
2,000,000
County
of
Santa
Clara
Current
Refunding
GO,
Series
D,
5.00%,
08/01/24
...........
2,137,197
2,000,000
County
of
Santa
Clara
Current
Refunding
GO,
Series
D,
5.00%,
08/01/26
...........
2,251,620
5,000,000
Los
Angeles
Department
of
Water
&
Power
Current
Refunding
Revenue
Bonds,
Series
B,
5.00%,
07/01/24
...........
5,316,143
3,500,000
Sacramento
Municipal
Utility
District
Electric
Light
&
Power
Improvements
Revenue
Bonds,
Series
H,
5.00%,
08/15/36
...........
4,050,501
3,500,000
Sacramento
Municipal
Utility
District
Refunding
Revenue
Bonds,
Sub-
Series
B,
5.00%,
08/15/49(b)
.........
3,742,580
Old
Westbury
Funds,
Inc.
Municipal
Bond
Fund
Portfolio
of
Investments
-
(Continued)
2
July
31,
2022
(Unaudited)
Principal
Amount
Value
California
(continued)
$
6,850,000
San
Bernardino
Community
College
District
Advance
Refunding
GO,
1.61%,
08/01/27
...........
$
6,284,348
3,800,000
San
Diego
County
Water
Authority
Refunding
Revenue
Bonds,
Sub-
Series
S1,
5.00%,
05/01/28
...........
4,404,430
2,500,000
San
Francisco
Bay
Area
Rapid
Transit
District
Transit
Improvements
GO,
Series
B-1,
5.00%,
08/01/24
...........
2,665,880
2,340,000
San
Francisco
City
&
County
Airport
Comm-San
Francisco
International
Airport
Current
Refunding
Revenue
Bonds,
Series
A,
5.00%,
05/01/31
...........
2,699,933
4,380,000
State
of
California
Advance
Refunding
GO,
5.00%,
08/01/25
...........
4,805,136
4,475,000
State
of
California
Advance
Refunding
GO,
5.00%,
11/01/25
...........
4,942,170
4,415,000
State
of
California
Current
Refunding
GO,
5.00%,
10/01/25
...........
4,865,148
10,000,000
State
of
California
Current
Refunding
GO,
5.00%,
10/01/37
...........
11,883,555
2,000,000
State
of
California
Current
Refunding
GO,
5.00%,
10/01/25
...........
2,203,917
2,630,000
State
of
California
Current
Refunding
GO,
5.00%,
10/01/25
...........
2,898,151
3,250,000
State
of
California
Current
Refunding
GO,
5.00%,
08/01/26
...........
3,661,564
9,500,000
State
of
California
Current
Refunding
GO,
5.00%,
04/01/27
...........
10,880,626
15,000,000
State
of
California
Current
Refunding
GO,
(AGM),
5.25%,
08/01/32
...........
18,827,592
1,620,000
State
of
California
Department
of
Water
Resources
Advance
Refunding
Revenue
Bonds,
Series
AX,
5.00%,
12/01/22
...........
1,639,053
6,210,000
State
of
California
GO,
5.00%,
10/01/23
...........
6,459,406
Principal
Amount
Value
California
(continued)
$
3,735,000
State
of
California
GO,
5.00%,
10/01/24
...........
$
4,003,676
7,000,000
State
of
California
Public
Improvements
GO,
5.00%,
09/01/22
...........
7,020,455
3,000,000
State
of
California
Public
Improvements
GO,
5.00%,
03/01/26
...........
3,252,604
5,715,000
State
of
California
Public
Improvements
GO,
5.00%,
10/01/27
...........
6,359,615
8,000,000
State
of
California
Refunding
GO,
5.00%,
10/01/25
...........
8,571,934
7,230,000
State
of
California
School
Improvements
GO,
5.00%,
11/01/28
...........
8,334,785
5,000,000
State
of
California
Water
Utility
Improvements
GO,
5.00%,
04/01/27
...........
5,726,645
5,000,000
State
of
California
Water
Utility
Improvements
GO,
5.00%,
04/01/28
...........
5,834,107
7,265,000
State
of
California
Water
Utility
Improvements
GO,
5.00%,
04/01/29
...........
8,627,635
3,500,000
State
of
California
Water
Utility
Improvements
GO,
5.00%,
04/01/30
...........
4,223,441
6,360,000
University
of
California
Refunding
Revenue
Bonds,
Series
AJ,
4.60%,
05/15/31
...........
6,610,823
202,705,047
Colorado
—
1.4%
3,000,000
Adams
&
Weld
Counties
School
District
No
27J
Brighton
Improvements
GO,
(State
Aid
Withholding),
5.00%,
12/01/22
...........
3,035,283
3,000,000
Adams
&
Weld
Counties
School
District
No
27J
Brighton
Improvements
GO,
(State
Aid
Withholding),
5.00%,
12/01/23
...........
3,134,677
5,850,000
City
&
County
of
Denver
CO
Airport
System
Revenue
Airport
&
Marina
Improvements
Refunding
Revenue
Bonds,
Series
A,
5.00%,
12/01/28
...........
6,605,663
Old
Westbury
Funds,
Inc.
Municipal
Bond
Fund
Portfolio
of
Investments
-
(Continued)
3
July
31,
2022
(Unaudited)
Principal
Amount
Value
Colorado
(continued)
$
8,000,000
City
&
County
of
Denver
CO
Airport
System
Revenue
Refunding
Revenue
Bonds,
Series
A1,
5.00%,
11/15/22
...........
$
8,081,618
2,175,000
City
&
County
of
Denver
CO
Airport
System
Revenue
Refunding
Revenue
Bonds,
Series
A1,
5.00%,
11/15/32
...........
2,554,217
5,000,000
City
&
County
of
Denver
CO
Airport
System
Revenue
Refunding
Revenue
Bonds,
Series
A2,
5.00%,
11/15/23
...........
5,217,375
3,300,000
City
&
County
of
Denver
CO
Airport
System
Revenue
Refunding
Revenue
Bonds,
Series
A2,
5.00%,
11/15/25
...........
3,629,317
10,000,000
City
&
County
of
Denver
CO
Airport
System
Revenue,
Series
A,
5.00%,
12/01/32
...........
11,092,749
4,000,000
City
&
County
of
Denver
Co.
Airport
System
Refunding
Revenue
Bonds,
Series
D,
5.00%,
11/15/31(b)
.........
4,035,695
2,060,000
Colorado
Higher
Education
Refunding
COP,
Series
A,
5.00%,
11/01/24
...........
2,205,446
2,000,000
Denver
City
&
County
School
District
No
1
Refunding
GO,
(State
Aid
Withholding),
5.00%,
12/01/24
...........
2,153,189
4,275,000
Regional
Transportation
District
Sales
Tax
Revenue
Advance
Refunding
Revenue
Bonds,
1.18%,
11/01/27
...........
3,849,008
55,594,237
Connecticut
—
1.7%
5,000,000
Connecticut
State
Health
&
Educational
Facilities
Authority
University
&
College
Improvements
Revenue
Bonds,
4.00%,
07/01/31
...........
5,593,582
5,000,000
Connecticut
State
Health
&
Educational
Facilities
Authority
University
&
College
Improvements
Revenue
Bonds,
Series
C-1,
5.00%,
07/01/40(b)
.........
5,792,676
Principal
Amount
Value
Connecticut
(continued)
$
11,200,000
Connecticut
State
Health
&
Educational
Facilities
Authority
University
&
College
Improvements
Revenue
Bonds,
Series
S,
5.00%,
07/01/27
...........
$
12,875,915
1,000,000
Metropolitan
District
Refunding
Notes
GO,
5.00%,
03/01/25
...........
1,050,995
5,860,000
Metropolitan
District
Refunding
Notes
GO,
Series
C,
(AGM),
5.00%,
11/01/25
...........
6,456,116
2,350,000
State
of
Connecticut
Clean
Water
Fund
-
State
Revolving
Fund
Refunding
Revenue
Bonds,
Series
A,
5.00%,
03/01/29
...........
2,532,270
2,000,000
State
of
Connecticut
Current
Refunding
GO,
Series
D,
5.00%,
09/15/24
...........
2,138,075
1,445,000
State
of
Connecticut
Current
Refunding
GO,
Series
D,
5.00%,
09/15/25
...........
1,584,890
1,000,000
State
of
Connecticut
Current
Refunding
GO,
Series
D,
5.00%,
09/15/26
...........
1,122,040
1,000,000
State
of
Connecticut
Current
Refunding
GO,
Series
D,
5.00%,
09/15/27
...........
1,144,345
1,000,000
State
of
Connecticut
Current
Refunding
GO,
Series
D,
5.00%,
09/15/28
...........
1,161,791
1,675,000
State
of
Connecticut
GO,
Series
A,
5.00%,
04/15/28
...........
1,934,044
6,000,000
State
of
Connecticut
GO,
Series
A,
4.00%,
01/15/29
...........
6,587,935
3,100,000
State
of
Connecticut
Special
Tax
Revenue
Bonds,
Series
A,
5.00%,
08/01/22
...........
3,100,000
1,245,000
State
of
Connecticut
Special
Tax
Revenue
Bonds,
Series
A,
5.00%,
05/01/26
...........
1,384,715
1,715,000
State
of
Connecticut
Special
Tax
Revenue
Bonds,
Series
A,
5.00%,
05/01/28
...........
1,981,531
1,700,000
State
of
Connecticut
Special
Tax
Revenue
Bonds,
Series
A,
5.00%,
05/01/29
...........
1,994,726
2,000,000
State
of
Connecticut
Special
Tax
Revenue
Bonds,
Series
A,
5.00%,
08/01/30
...........
2,162,890
Old
Westbury
Funds,
Inc.
Municipal
Bond
Fund
Portfolio
of
Investments
-
(Continued)
4
July
31,
2022
(Unaudited)
Principal
Amount
Value
Connecticut
(continued)
$
1,225,000
State
of
Connecticut
Special
Tax
Revenue
Bonds,
Series
D,
5.00%,
11/01/29
...........
$
1,447,920
1,250,000
State
of
Connecticut
Special
Tax
Revenue
Transportation
Infrastructure
Advance
Refunding
Revenue
Bonds,
5.00%,
08/01/22
...........
1,250,000
1,900,000
State
of
Connecticut
Transportation
Infrastructure
Refunding
Revenue
Bonds,
5.00%,
09/01/24
...........
2,026,523
5,000,000
State
of
Connecticut
Transportation
Infrastructure
Revenue
Bonds,
Series
A,
5.00%,
09/01/27
...........
5,324,028
70,647,007
Delaware
—
1.7%
10,000,000
Delaware
State
Health
Facilities
Authority
Current
Refundin
Revenue
Bonds,
5.00%,
10/01/45
...........
10,895,172
1,250,000
Delaware
Transportation
Authority
Current
Refunding
Revenue
Bonds,
5.00%,
09/01/30
...........
1,486,919
5,000,000
Delaware
Transportation
Authority
Current
Refunding
Revenue
Bonds,
5.00%,
07/01/32
...........
5,945,366
5,825,000
Delaware
Transportation
Authority
Public
Improvements
Revenue
Bonds,
5.00%,
07/01/26
...........
6,532,448
10,000,000
State
of
Delaware
Current
Refunding
GO,
5.00%,
02/01/28
...........
11,625,001
7,705,000
State
of
Delaware
Current
Refunding
GO,
Series
A,
5.00%,
10/01/27
...........
8,905,543
10,800,000
State
of
Delaware
Public
Facilities
GO,
5.00%,
02/01/25
...........
11,698,533
9,650,000
State
of
Delaware
Public
Facilities
GO,
5.00%,
02/01/26
...........
10,727,561
2,885,000
State
of
Delaware
Public
Improvements
GO,
5.00%,
03/01/24
...........
3,039,421
70,855,964
Principal
Amount
Value
District
of
Columbia
—
2.3%
$
5,800,000
District
of
Columbia
Current
Refunding
GO,
Series
E,
5.00%,
02/01/34
...........
$
6,912,311
2,000,000
District
of
Columbia
GO,
Series
D,
5.00%,
02/01/30
...........
2,399,685
1,000,000
District
of
Columbia
Public
Improvements
GO,
Series
A,
5.00%,
06/01/25
...........
1,090,102
4,145,000
District
of
Columbia
Public
Improvements
Revenue
Bonds,
Series
A,
5.00%,
03/01/25
...........
4,487,226
8,800,000
District
of
Columbia
Public
Improvements
Revenue
Bonds,
Series
A,
5.00%,
03/01/26
...........
9,777,620
3,500,000
District
of
Columbia
Public
Improvements
Revenue
Bonds,
Series
B,
5.00%,
10/01/27
...........
4,034,152
11,735,000
District
of
Columbia
Refunding
Revenue
Bonds,
Series
C,
5.00%,
10/01/23
...........
12,209,081
3,000,000
District
of
Columbia
Transit
Improvements
Revenue
Bonds,
Series
A,
5.00%,
07/01/34
...........
3,632,629
2,750,000
District
of
Columbia
Transit
Improvements
Revenue
Bonds,
Series
A,
5.00%,
07/01/35
...........
3,314,274
4,500,000
District
of
Columbia
Transit
Improvements
Revenue
Bonds,
Series
A,
5.00%,
07/01/36
...........
5,413,881
7,185,000
District
of
Columbia
Transit
Improvements
Revenue
Bonds,
Series
B,
3.81%,
07/01/30
...........
7,346,187
6,000,000
District
of
Columbia
Transit
Improvements
Revenue
Bonds,
Series
B,
3.86%,
07/01/31
...........
6,144,586
10,000,000
District
of
Columbia
Water
&
Sewer
Authority
Revenue
Bonds,
Series
B,
5.00%,
10/01/52
...........
10,851,285
Old
Westbury
Funds,
Inc.
Municipal
Bond
Fund
Portfolio
of
Investments
-
(Continued)
5
July
31,
2022
(Unaudited)
Principal
Amount
Value
District
of
Columbia
(continued)
$
5,000,000
Metropolitan
Washington
Airports
Authority
Aviation
Revenue
Airport
&
Marina
Improvements
Revenue
Bonds,
Series
A,
5.00%,
10/01/26
...........
$
5,521,014
9,000,000
Metropolitan
Washington
Airports
Authority
Aviation
Revenue
Airport
&
Marina
Improvements
Revenue
Bonds,
Series
A,
5.00%,
10/01/27
...........
10,090,752
93,224,785
Florida
—
2.2%
5,000,000
Orange
County
Health
Facilities
Authority
Current
Refunding
Revenue
Bonds,
5.00%,
11/15/52(b)
.........
5,597,047
1,065,000
Peace
River
Manasota
Regional
Water
Supply
Authority
Refunding
Revenue
Bonds,
4.00%,
10/01/22
...........
1,069,551
3,475,000
State
of
Florida
Current
Refunding
GO,
Series
A,
5.00%,
06/01/24
...........
3,685,307
5,000,000
State
of
Florida
Current
Refunding
GO,
Series
A,
5.00%,
07/01/24
...........
5,316,143
5,000,000
State
of
Florida
Current
Refunding
GO,
Series
A,
5.00%,
06/01/27
...........
5,727,028
10,000,000
State
of
Florida
Current
Refunding
GO,
Series
A,
5.00%,
07/01/29
...........
11,911,213
10,000,000
State
of
Florida
Current
Refunding
GO,
Series
A,
5.00%,
07/01/30
...........
12,095,244
2,565,000
State
of
Florida
Current
Refunding
GO,
Series
D,
5.00%,
06/01/23
...........
2,638,797
1,750,000
State
of
Florida
Current
Refunding
GO,
Series
F,
5.00%,
06/01/28
...........
1,946,820
2,545,000
State
of
Florida
Department
of
Transportation
Turnpike
System
Revenue
Highway
Improvements
Revenue
Bonds,
Series
B,
5.00%,
07/01/25
...........
2,775,123
Principal
Amount
Value
Florida
(continued)
$
2,670,000
State
of
Florida
Department
of
Transportation
Turnpike
System
Revenue
Highway
Improvements
Revenue
Bonds,
Series
B,
5.00%,
07/01/26
...........
$
2,984,609
2,805,000
State
of
Florida
Department
of
Transportation
Turnpike
System
Revenue
Highway
Improvements
Revenue
Bonds,
Series
B,
5.00%,
07/01/27
...........
3,209,099
2,945,000
State
of
Florida
Department
of
Transportation
Turnpike
System
Revenue
Highway
Improvements
Revenue
Bonds,
Series
B,
5.00%,
07/01/28
...........
3,424,883
3,885,000
State
of
Florida
Lottery
Revenue
Current
Refunding
Revenue
Bonds,
Series
A,
5.00%,
07/01/23
...........
4,006,397
4,080,000
State
of
Florida
Lottery
Revenue
Current
Refunding
Revenue
Bonds,
Series
A,
5.00%,
07/01/24
...........
4,329,219
4,720,000
State
of
Florida
Lottery
Revenue
Current
Refunding
Revenue
Bonds,
Series
A,
5.00%,
07/01/27
...........
5,416,699
4,960,000
State
of
Florida
Lottery
Revenue
Current
Refunding
Revenue
Bonds,
Series
A,
5.00%,
07/01/28
...........
5,786,262
5,205,000
State
of
Florida
Lottery
Revenue
Current
Refunding
Revenue
Bonds,
Series
A,
5.00%,
07/01/29
...........
6,151,901
88,071,342
Georgia
—
3.7%
1,950,000
Brookhaven
Development
Authority
Revenue
Bonds,
Series
A,
5.00%,
07/01/23
...........
2,008,947
15,000,000
Brookhaven
Development
Authority
Revenue
Bonds,
Series
A,
4.00%,
07/01/49
...........
15,000,468
9,280,000
City
of
Atlanta
GA
Airport
Passenger
Facility
Charge
Airport
&
Marina
Improvements
Revenue
Bonds,
Sub-Series
D,
5.00%,
07/01/34
...........
10,650,199
Old
Westbury
Funds,
Inc.
Municipal
Bond
Fund
Portfolio
of
Investments
-
(Continued)
6
July
31,
2022
(Unaudited)
Principal
Amount
Value
Georgia
(continued)
$
12,890,000
City
of
Atlanta
GA
Airport
Passenger
Facility
Charge
Airport
&
Marina
Improvements
Revenue
Bonds,
Sub-Series
D,
5.00%,
07/01/35
...........
$
14,689,373
2,000,000
City
of
Atlanta
GA
Department
of
Aviation
Current
Refunding
Revenue
Bonds,
Series
A,
5.00%,
07/01/24
...........
2,121,776
5,000,000
City
of
Atlanta
GA
Department
of
Aviation
Current
Refunding
Revenue
Bonds,
Series
A,
5.00%,
07/01/25
...........
5,447,641
4,225,000
City
of
Atlanta
GA
Department
of
Aviation
Current
Refunding
Revenue
Bonds,
Series
A,
5.00%,
07/01/26
...........
4,712,675
11,445,000
City
of
Atlanta
GA
Department
of
Aviation
Current
Refunding
Revenue
Bonds,
Series
A,
5.00%,
07/01/27
...........
13,047,666
5,000,000
City
of
Atlanta
GA
Department
of
Aviation
Current
Refunding
Revenue
Bonds,
Series
A,
5.00%,
07/01/28
...........
5,784,585
1,400,000
City
of
Atlanta
GA
Department
of
Aviation
Current
Refunding
Revenue
Bonds,
Series
B,
5.00%,
07/01/24
...........
1,476,281
2,000,000
City
of
Atlanta
GA
Department
of
Aviation
Current
Refunding
Revenue
Bonds,
Series
B,
5.00%,
07/01/25
...........
2,158,343
2,000,000
City
of
Atlanta
GA
Department
of
Aviation
Current
Refunding
Revenue
Bonds,
Series
B,
5.00%,
07/01/26
...........
2,197,523
3,000,000
City
of
Atlanta
GA
Department
of
Aviation
Current
Refunding
Revenue
Bonds,
Series
B,
5.00%,
07/01/27
...........
3,351,508
3,000,000
City
of
Atlanta
GA
Department
of
Aviation
Current
Refunding
Revenue
Bonds,
Series
B,
5.00%,
07/01/28
...........
3,385,412
1,000,000
City
of
Atlanta
GA
Department
of
Aviation
Refunding
Revenue
Bonds,
Series
B,
5.00%,
07/01/29
...........
1,169,320
Principal
Amount
Value
Georgia
(continued)
$
1,140,000
City
of
Atlanta
GA
Department
of
Aviation
Refunding
Revenue
Bonds,
Series
C,
5.00%,
07/01/23
...........
$
1,171,303
1,725,000
City
of
Atlanta
GA
Department
of
Aviation
Refunding
Revenue
Bonds,
Series
C,
5.00%,
07/01/31
...........
2,000,158
1,400,000
City
of
Atlanta
GA
Department
of
Aviation
Refunding
Revenue
Bonds,
Series
C,
5.00%,
07/01/33
...........
1,601,204
8,000,000
City
of
Columbus
Public
Facilities
GO,
5.00%,
01/01/24
...........
8,383,683
10,065,000
City
of
Columbus
Public
Facilities
GO,
5.00%,
01/01/25
...........
10,849,038
5,060,000
City
of
Columbus
Public
Facilities
GO,
5.00%,
01/01/26
...........
5,600,364
6,010,000
Gainesville
&
Hall
County
Hospital
Authority
Current
Refunding
Revenue
Bonds,
5.00%,
02/15/25
...........
6,424,055
1,000,000
Gainesville
&
Hall
County
Hospital
Authority
Revenue
Bonds,
Series
A,
5.00%,
02/15/24
...........
1,044,339
3,190,000
Georgia
State
Road
&
Tollway
Authority
Highway
Improvements
Revenue
Bonds,
5.00%,
06/01/29
...........
3,758,800
1,975,000
Lowndes
County
Board
of
Education
School
Improvements
GO,
(State
Aid
Withholding),
5.00%,
02/01/23
...........
2,010,035
1,555,000
South
Regional
Joint
Development
Authority
Advance
Refunding
Revenue
Bonds,
Series
A,
5.00%,
08/01/26
...........
1,729,623
1,100,000
South
Regional
Joint
Development
Authority
Advance
Refunding
Revenue
Bonds,
Series
B,
5.00%,
08/01/26
...........
1,223,528
3,265,000
State
of
Georgia
Advance
Refunding
GO,
Series
C-1,
5.00%,
01/01/24
...........
3,420,181
1,950,000
State
of
Georgia
Public
Improvements
GO,
Series
A-2,
5.00%,
02/01/25
...........
2,048,929
Old
Westbury
Funds,
Inc.
Municipal
Bond
Fund
Portfolio
of
Investments
-
(Continued)
7
July
31,
2022
(Unaudited)
Principal
Amount
Value
Georgia
(continued)
$
2,230,000
State
of
Georgia
School
Improvements
GO,
Series
A-1,
5.00%,
02/01/25
...........
$
2,412,106
10,000,000
State
of
Georgia
University
and
College
Improvements
GO,
Series
A-1,
5.00%,
02/01/24
...........
10,501,488
151,380,551
Hawaii
—
3.5%
7,775,000
City
&
County
of
Honolulu
GO,
Series
E,
5.00%,
03/01/30
...........
9,280,114
10,000,000
City
&
County
of
Honolulu
HI
Refunding
GO,
Series
A,
5.00%,
09/01/25
...........
10,973,010
4,940,000
City
&
County
of
Honolulu
HI
Transit
Improvements
GO,
Series
E,
5.00%,
09/01/29(b)
.........
5,076,720
3,000,000
City
&
County
of
Honolulu
Public
Improvements
Refunding
GO,
Series
D,
5.00%,
08/01/23
...........
3,104,061
10,000,000
City
&
County
of
Honolulu
Transit
Improvements
GO,
Series
E,
5.00%,
03/01/29
...........
11,757,590
12,260,000
State
of
Hawaii
Airports
System
Revenue
Airport
&
Marina
Improvements
Revenue
Bonds,
Series
A,
5.00%,
07/01/31
...........
13,983,613
11,965,000
State
of
Hawaii
Airports
System
Revenue
Airport
&
Marina
Improvements
Revenue
Bonds,
Series
A,
5.00%,
07/01/32
...........
13,588,929
2,500,000
State
of
Hawaii
Airports
System
Revenue
Airport
&
Marina
Improvements
Revenue
Bonds,
Series
A,
5.00%,
07/01/35
...........
2,737,197
2,000,000
State
of
Hawaii
Airports
System
Revenue
Current
Refunding
Revenue
Bonds,
Series
E,
1.71%,
07/01/26
...........
1,848,463
2,250,000
State
of
Hawaii
Airports
System
Revenue
Current
Refunding
Revenue
Bonds,
Series
E,
1.81%,
07/01/27
...........
2,043,695
Principal
Amount
Value
Hawaii
(continued)
$
10,000,000
State
of
Hawaii
Airports
System
Revenue
Refunding
Revenue
Bonds,
Series
D,
5.00%,
07/01/33
...........
$
11,483,805
1,500,000
State
of
Hawaii
Harbor
System
Revenue
Airport
&
Marina
Improvements
Revenue
Bonds,
Series
A,
5.00%,
07/01/26
...........
1,662,967
4,165,000
State
of
Hawaii
Harbor
System
Revenue
Airport
&
Marina
Improvements
Revenue
Bonds,
Series
A,
5.00%,
07/01/27
...........
4,706,553
7,330,000
State
of
Hawaii
Harbor
System
Revenue
Airport
&
Marina
Improvements
Revenue
Bonds,
Series
A,
5.00%,
07/01/28
...........
8,379,531
3,915,000
State
of
Hawaii
Harbor
System
Revenue
Airport
&
Marina
Improvements
Revenue
Bonds,
Series
A,
5.00%,
07/01/29
...........
4,523,794
3,750,000
State
of
Hawaii
Harbor
System
Revenue
Airport
&
Marina
Improvements
Revenue
Bonds,
Series
A,
5.00%,
07/01/30
...........
4,383,799
10,420,000
State
of
Hawaii
Harbor
System
Revenue
Airport
&
Marina
Improvements
Revenue
Bonds,
Series
A,
4.00%,
07/01/31
...........
11,336,281
11,920,000
State
of
Hawaii
Harbor
System
Revenue
Airport
&
Marina
Improvements
Revenue
Bonds,
Series
A,
4.00%,
07/01/32
...........
12,922,436
5,420,000
State
of
Hawaii
Public
Improvements
GO,
Series
EH,
5.00%,
08/01/33(a)
.........
5,603,618
2,515,000
State
of
Hawaii
Public
Improvements
GO,
Series
FK,
5.00%,
05/01/29
...........
2,842,132
1,180,000
University
of
Hawaii
Advance
Refunding
Revenue
Bonds,
Series
F,
5.00%,
10/01/22
...........
1,187,062
143,425,370
Old
Westbury
Funds,
Inc.
Municipal
Bond
Fund
Portfolio
of
Investments
-
(Continued)
8
July
31,
2022
(Unaudited)
Principal
Amount
Value
Illinois
—
0.1%
$
3,250,000
Metropolitan
Water
Reclamation
District
of
Greater
Chicago
Current
Refunding
GO,
Series
A,
5.00%,
12/01/24
...........
$
3,488,870
2,000,000
Metropolitan
Water
Reclamation
District
of
Greater
Chicago
Refunding
GO,
Series
D,
5.00%,
12/01/22
...........
2,021,510
5,510,380
Indiana
—
0.4%
7,025,000
Indiana
Finance
Authority
Health
Care
Facilities
Revenue
Bonds,
0.70%,
12/01/46(b)
.........
6,711,003
1,000,000
Purdue
University
Current
Refunding
Revenue
Bonds,
Series
A,
5.00%,
07/01/25
...........
1,091,912
1,135,000
Purdue
University
Current
Refunding
Revenue
Bonds,
Series
A,
5.00%,
07/01/28
...........
1,322,008
1,250,000
Purdue
University
Current
Refunding
Revenue
Bonds,
Series
A,
5.00%,
07/01/29
...........
1,477,402
2,125,000
Purdue
University
Current
Refunding
Revenue
Bonds,
Series
A,
5.00%,
07/01/30
...........
2,542,860
1,250,000
Purdue
University
Current
Refunding
Revenue
Bonds,
Series
A,
5.00%,
07/01/31
...........
1,512,582
14,657,767
Iowa
—
1.1%
1,130,000
Iowa
Finance
Authority
Green
Purpose
Revenue
Bonds,
Series
A,
5.00%,
08/01/24
...........
1,203,826
2,250,000
Iowa
Finance
Authority
Green
Purpose
Revenue
Bonds,
Series
A,
5.00%,
08/01/25
...........
2,462,857
2,075,000
Iowa
Finance
Authority
Green
Purpose
Revenue
Bonds,
Series
A,
5.00%,
08/01/26
...........
2,330,928
1,960,000
Iowa
Finance
Authority
Green
Purpose
Revenue
Bonds,
Series
A,
5.00%,
08/01/27
...........
2,252,542
1,375,000
Iowa
Finance
Authority
Green
Purpose
Revenue
Bonds,
Series
A,
5.00%,
08/01/28
...........
1,605,220
3,185,000
Iowa
Finance
Authority
Green
Purpose
Revenue
Bonds,
Series
A,
5.00%,
08/01/31
...........
3,880,907
Principal
Amount
Value
Iowa
(continued)
$
1,750,000
Iowa
Finance
Authority
Green
Purpose
Revenue
Bonds,
Series
A,
5.00%,
08/01/27
...........
$
2,011,199
1,425,000
Iowa
Finance
Authority
Green
Purpose
Revenue
Bonds,
Series
A,
5.00%,
08/01/28
...........
1,663,592
2,360,000
Iowa
Finance
Authority
Green
Purpose
Revenue
Bonds,
Series
A,
5.00%,
08/01/32
...........
2,857,876
3,000,000
State
of
Iowa
Advance
Refunding
Revenue
Bonds,
Series
A,
5.00%,
06/01/28
...........
3,323,347
3,920,000
State
of
Iowa
Board
of
Regents
Current
Refunding
Revenue
Bonds,
5.00%,
09/01/24
...........
4,181,036
4,325,000
State
of
Iowa
Board
of
Regents
Current
Refunding
Revenue
Bonds,
5.00%,
09/01/26
...........
4,846,612
4,535,000
State
of
Iowa
Board
of
Regents
Current
Refunding
Revenue
Bonds,
5.00%,
09/01/27
...........
5,186,412
4,415,000
State
of
Iowa
Board
of
Regents
Health
Care
Facilities
Revenue
Bonds,
5.00%,
09/01/29
...........
5,174,509
42,980,863
Kansas
—
0.0%
1,260,000
Sedgwick
County
Public
Building
Commission
Technical
Education
Complex
Refunding
Revenue
Bonds,
Series
2,
5.00%,
08/01/23
...........
1,303,451
Maine
—
0.1%
3,400,000
State
of
Maine
Highway
Improvements
GO,
Series
B,
5.00%,
06/01/29
...........
4,013,340
Maryland
—
8.5%
5,735,000
County
of
Anne
Arundel
School
Improvements
GO,
5.00%,
04/01/27
...........
6,220,795
2,810,000
County
of
Anne
Arundel
School
Improvements
GO,
5.00%,
04/01/28
...........
3,042,741
1,200,000
County
of
Baltimore
78th
Issue
Refunding
GO,
5.00%,
02/01/29
...........
1,321,174
3,835,000
County
of
Baltimore
81st
Issue
Refunding
GO,
5.00%,
03/01/23
...........
3,913,492
Old
Westbury
Funds,
Inc.
Municipal
Bond
Fund
Portfolio
of
Investments
-
(Continued)
9
July
31,
2022
(Unaudited)
Principal
Amount
Value
Maryland
(continued)
$
8,765,000
County
of
Baltimore
Public
Improvements
COP,
5.00%,
03/01/25
...........
$
9,479,418
9,205,000
County
of
Baltimore
Public
Improvements
COP,
5.00%,
03/01/26
...........
10,203,951
9,665,000
County
of
Baltimore
Public
Improvements
COP,
5.00%,
03/01/27
...........
10,960,777
6,600,000
County
of
Baltimore
Public
Improvements
COP,
5.00%,
03/01/28
...........
7,626,190
2,730,000
County
of
Baltimore
Refunding
GO,
5.00%,
03/01/23
...........
2,785,876
1,160,000
County
of
Frederick
Crossover
Refunding
GO,
Series
A,
5.00%,
02/01/25
...........
1,255,024
4,500,000
County
of
Montgomery
Advance
Refunding
GO,
Series
B,
5.00%,
06/01/23
...........
4,630,986
2,000,000
County
of
Montgomery
Public
Improvements
GO,
Series
A,
5.00%,
12/01/27
...........
2,150,156
3,500,000
County
of
Montgomery
Refunding
GO,
Series
A,
5.00%,
11/01/23
...........
3,650,059
10,000,000
County
of
Montgomery
Refunding
GO,
Series
A,
5.00%,
08/01/27
...........
11,528,693
10,000,000
County
of
Montgomery
Refunding
GO,
Series
A,
5.00%,
08/01/28
...........
11,723,648
3,185,000
County
of
Prince
George's
Public
School
Improvement
GO,
Series
A,
5.00%,
09/15/25
...........
3,504,551
3,110,000
County
of
Prince
George's
Public
School
Improvements
GO,
Series
A,
5.00%,
07/01/24
...........
3,308,464
10,000,000
County
of
Prince
George's
School
Improvements
GO,
Series
A,
5.00%,
07/01/30
...........
12,095,244
18,500,000
County
of
Prince
George's
School
Improvements
GO,
Series
A,
5.00%,
07/01/31
...........
22,686,210
1,000,000
Maryland
State
Transportation
Authority
Highway
Improvements
Revenue
Bonds,
Series
A,
5.00%,
07/01/23
...........
1,032,547
Principal
Amount
Value
Maryland
(continued)
$
9,255,000
State
of
Maryland
Advance
Refunding
GO,
Series
B,
5.00%,
08/01/25
...........
$
10,150,470
6,000,000
State
of
Maryland
Department
of
Transportation
Transit
Improvements
Revenue
Bonds,
5.00%,
02/01/25
...........
6,105,831
10,000,000
State
of
Maryland
Department
of
Transportation
Transit
Improvements
Revenue
Bonds,
5.00%,
11/01/26
...........
10,710,278
10,700,000
State
of
Maryland
Public
Facilities
GO,
Series
A,
5.00%,
08/01/26
...........
12,041,753
10,000,000
State
of
Maryland
Public
Facilities
GO,
Series
A,
5.00%,
03/01/30
...........
12,036,410
8,035,000
State
of
Maryland
Public
Improvements
GO,
Series
A,
5.00%,
08/01/24(a)
.........
8,311,271
1,000,000
State
of
Maryland
Public
Improvements
GO,
Series
A,
5.00%,
03/15/25
...........
1,085,572
7,015,000
State
of
Maryland
Refunding
GO,
Series
2-C,
5.00%,
08/01/23
...........
7,258,329
7,700,000
State
of
Maryland
School
Improvements
GO,
1st
Series,
5.00%,
06/01/23
...........
7,924,131
11,000,000
State
of
Maryland
School
Improvements
GO,
Series
A,
5.00%,
06/01/27
...........
12,637,893
14,400,000
State
of
Maryland
School
Improvements
GO,
Series
A,
5.00%,
06/01/28
...........
16,838,315
14,675,000
State
of
Maryland
School
Improvements
GO,
Series
A,
5.00%,
06/01/29
...........
17,455,717
15,000,000
State
of
Maryland
School
Improvements
GO,
Series
A,
5.00%,
06/01/30
...........
18,120,996
4,855,000
State
of
Maryland
School
Improvements
GO,
Series
A,
5.00%,
03/15/31
...........
5,823,319
15,000,000
State
of
Maryland
School
Improvements
GO,
Series
A,
5.00%,
06/01/31
...........
18,401,278
8,400,000
State
of
Maryland
School
Improvements
GO,
Series
A,
5.00%,
06/01/32
...........
10,434,684
Old
Westbury
Funds,
Inc.
Municipal
Bond
Fund
Portfolio
of
Investments
-
(Continued)
10
July
31,
2022
(Unaudited)
Principal
Amount
Value
Maryland
(continued)
$
9,120,000
State
of
Maryland
School
Improvements
GO,
Series
A,
5.00%,
06/01/36
...........
$
11,110,565
20,000,000
State
of
Maryland
School
Improvements
GO,
Series
A,
5.00%,
03/15/23
...........
20,439,452
1,675,000
University
System
of
Maryland
Current
Refunding
Revenue
Bonds,
Series
A,
5.00%,
04/01/24
...........
1,766,165
5,000,000
Washington
Suburban
Sanitary
Commission
Water
&
Sewer
System
Improvements
GO,
2nd
Series,
(County
GTY),
5.00%,
06/01/25
...........
5,459,219
347,231,644
Massachusetts
—
4.4%
3,670,000
City
of
Cambridge
School
Improvements
GO,
5.00%,
02/15/25
...........
3,974,876
13,025,000
Commonwealth
of
Massachusetts
Advance
Refunding
GO,
Series
B,
5.00%,
07/01/31
...........
14,446,542
9,330,000
Commonwealth
of
Massachusetts
Advance
Refunding
GO,
Series
C,
5.00%,
10/01/26
...........
10,539,505
15,000,000
Commonwealth
of
Massachusetts
Current
Refunding
GO,
Series
A,
5.00%,
09/01/27
...........
17,303,522
2,000,000
Commonwealth
of
Massachusetts
Public
Improvements
GO,
Series
C,
5.00%,
07/01/32
...........
2,162,136
11,000,000
Commonwealth
of
Massachusetts
Transit
Improvements
GO,
Series
A,
5.00%,
02/01/32
...........
13,479,303
7,700,000
Commonwealth
of
Massachusetts
Transit
Improvements
GO,
Series
A,
5.00%,
02/01/30
...........
9,191,658
7,380,000
Commonwealth
of
Massachusetts
Transit
Improvements
GO,
Series
A,
5.00%,
02/01/31
...........
8,930,216
Principal
Amount
Value
Massachusetts
(continued)
$
5,000,000
Commonwealth
of
Massachusetts
Transportation
Fund
Advance
Refunding
Revenue
Bonds,
Series
A,
5.00%,
06/01/27
...........
$
5,581,729
1,000,000
Massachusetts
Bay
Transportation
Authority
Sales
Tax
Revenue
Advance
Refunding
Revenue
Bonds,
Senior
Series
B,
5.00%,
07/01/33
...........
1,075,985
2,000,000
Massachusetts
Bay
Transportation
Authority
Sales
Tax
Revenue
Transit
Improvements
Revenue
Bonds,
Series
A-1,
5.00%,
07/01/24
...........
2,123,725
1,500,000
Massachusetts
Bay
Transportation
Authority
Sales
Tax
Revenue
Transit
Improvements
Revenue
Bonds,
Series
A-1,
5.00%,
07/01/25
...........
1,638,764
7,280,000
Massachusetts
Clean
Water
Trust
Advance
Green
Revenue
Bond,
Series
2020,
5.00%,
02/01/36
...........
7,726,457
8,000,000
Massachusetts
Clean
Water
Trust
Advance
Green
Revenue
Bond,
Sub
Series
2017A,
5.00%,
02/01/33
...........
8,117,826
2,265,000
Massachusetts
Clean
Water
Trust
Revenue
Bond,
Series
23B,
5.00%,
02/01/29
...........
2,677,645
5,035,000
Massachusetts
Clean
Water
Trust
Revenue
Bond,
Series
23B,
5.00%,
02/01/32
...........
6,096,345
10,000,000
Massachusetts
Development
Finance
Agency
Advance
Refunding
Revenue
Bonds,
Series
A,
5.00%,
10/15/27
...........
11,555,224
5,000,000
Massachusetts
Development
Finance
Agency
Advance
Refunding
Revenue
Bonds,
Series
A,
5.00%,
07/15/33
...........
5,574,105
4,050,000
Massachusetts
Development
Finance
Agency
Current
Refunding
Revenue
Bonds,
Series
A,
5.00%,
10/15/26
...........
4,575,885
13,800,000
Massachusetts
Development
Finance
Agency
University
&
College
Improvements
Revenue
Bonds,
5.00%,
11/15/32
...........
17,205,677
Old
Westbury
Funds,
Inc.
Municipal
Bond
Fund
Portfolio
of
Investments
-
(Continued)
11
July
31,
2022
(Unaudited)
Principal
Amount
Value
Massachusetts
(continued)
$
3,500,000
Massachusetts
Development
Finance
Agency
University
&
College
Improvements
Revenue
Bonds,
0.45%,
07/01/41(b)
.........
$
3,291,049
5,450,000
Massachusetts
Housing
Finance
Agency
STATE
MF
HSG
Revenue
Bonds,
Series
B-2,
0.90%,
06/01/26
...........
5,076,572
5,000,000
Massachusetts
Port
Authority
Airport
&
Marina
Improvements
Revenue
Bonds,
Series
A,
5.00%,
07/01/33
...........
5,810,597
3,500,000
Massachusetts
School
Building
Authority
Refunding
Revenue
Bonds,
Senior
Series
A,
5.00%,
08/15/23
...........
3,504,573
3,050,000
Massachusetts
Water
Resources
Authority
Refunding
Revenue
Bonds,
Series
C,
5.00%,
08/01/22
...........
3,050,000
2,155,000
Town
of
Stoneham
School
Improvements
GO,
5.00%,
01/15/29
...........
2,531,357
2,940,000
Town
of
Stoneham
School
Improvements
GO,
5.00%,
01/15/32
...........
3,537,377
180,778,650
Michigan
—
0.3%
1,000,000
Michigan
State
Building
Authority
Current
Refunding
Revenue
Bonds,
(Facilities
Program),
5.00%,
04/15/24
...........
1,056,455
1,000,000
Michigan
State
University
Refunding
Revenue
Bonds,
Series
A,
5.00%,
08/15/31
...........
1,078,456
5,000,000
University
of
Michigan
Current
Refunding
Revenue
Bonds,
Series
D,
5.00%,
04/01/30
...........
5,974,803
3,000,000
University
of
Michigan
University
&
College
Improvements
Revenue
Bonds,
Series
A,
5.00%,
04/01/26
...........
3,333,403
11,443,117
Minnesota
—
2.2%
1,515,000
Cambridge-Isanti
Independent
School
District
No
911
School
Building
Refunding
GO,
Series
D,
(School
District
Credit
Program),
5.00%,
02/01/24
...........
1,589,592
Principal
Amount
Value
Minnesota
(continued)
$
2,000,000
City
of
Rochester
Advance
Refunding
GO,
Series
B,
5.00%,
12/01/24
...........
$
2,152,235
10,000,000
Metropolitan
Council
Transit
Improvements
GO,
Series
B,
5.00%,
12/01/23
...........
10,458,405
1,815,000
Minnesota
Public
Facilities
Authority
Advance
Refunding
Revenue
Bonds,
Series
B,
5.00%,
03/01/27
...........
2,016,634
2,535,000
Robbinsdale
Independent
School
District
No
281
Current
Refunding
GO,
Series
A,
(School
District
Credit
Program),
5.00%,
02/01/23
...........
2,579,459
2,805,000
Robbinsdale
Independent
School
District
No
281
Current
Refunding
GO,
Series
A,
(School
District
Credit
Program),
5.00%,
02/01/24
...........
2,941,825
2,200,000
Sartell-St
Stephen
Independent
School
District
No
748
GO,
Series
A,
(School
District
Credit
Program),
5.00%,
02/01/25
...........
2,375,721
2,335,000
State
of
Minnesota
Advance
Refunding
GO,
Series
D,
5.00%,
08/01/23
...........
2,416,230
7,500,000
State
of
Minnesota
Highway
Improvements
GO,
Series
B,
5.00%,
08/01/25
...........
8,232,593
2,870,000
State
of
Minnesota
Highway
Improvements
GO,
Series
B,
5.00%,
10/01/23
...........
2,985,605
1,395,000
State
of
Minnesota
Public
Improvements
COP,
5.00%,
06/01/24
...........
1,483,601
2,910,000
State
of
Minnesota
Public
Improvements
COP,
5.00%,
06/01/26
...........
3,086,657
10,000,000
State
of
Minnesota
School
Improvements
GO,
Series
A,
5.00%,
09/01/25
...........
11,001,486
3,640,000
State
of
Minnesota
School
Improvements
GO,
Series
A,
5.00%,
08/01/29
...........
4,349,463
7,570,000
State
of
Minnesota
School
Improvements
GO,
Series
A,
5.00%,
08/01/29
...........
9,045,449
10,000,000
State
of
Minnesota
School
Improvements
GO,
Series
A,
5.00%,
09/01/29
...........
11,965,229
Old
Westbury
Funds,
Inc.
Municipal
Bond
Fund
Portfolio
of
Investments
-
(Continued)
12
July
31,
2022
(Unaudited)
Principal
Amount
Value
Minnesota
(continued)
$
8,260,000
State
of
Minnesota
School
Improvements
GO,
Series
A,
5.00%,
09/01/30
...........
$
10,062,582
1,000,000
Waconia
Independent
School
District
No
110
Refunding
GO,
Series
A,
(School
District
Credit
Program),
5.00%,
02/01/24
...........
1,049,235
89,792,001
Mississippi
—
0.3%
2,310,000
Mississippi
Development
Bank
Harrison
County
Highway
Refunding
Revenue
Bonds,
Series
A,
5.00%,
01/01/25
...........
2,478,572
10,000,000
State
of
Mississippi
Public
Improvements
GO,
Series
B,
5.00%,
12/01/31(a)
.........
10,451,631
12,930,203
New
Hampshire
—
0.1%
3,990,000
State
of
New
Hampshire
Public
Improvements
GO,
Series
B,
5.00%,
12/01/22
...........
4,037,864
New
Jersey
—
4.0%
1,060,000
County
of
Ocean
Current
Refunding
GO,
Series
B,
4.00%,
08/01/24
...........
1,108,514
1,825,000
County
of
Ocean
Public
Improvements
GO,
Series
A,
5.00%,
08/01/24
...........
1,944,232
1,000,000
Monmouth
County
Improvement
Authority
Cash
Flow
Management
Revenue
Bonds,
Series
B,
(County
GTY),
5.00%,
12/01/23
...........
1,045,434
1,000,000
Monmouth
County
Improvement
Authority
Cash
Flow
Management
Revenue
Bonds,
Series
B,
(County
GTY),
5.00%,
12/01/24
...........
1,076,595
5,095,000
New
Jersey
Educational
Facilities
Authority
Current
Refunding
Revenue
Bonds,
Series
C,
5.00%,
03/01/31
...........
6,189,427
10,000,000
New
Jersey
Educational
Facilities
Authority
University
&
College
Improvements
Revenue
Bonds,
Series
A,
5.00%,
03/01/27
...........
11,406,686
Principal
Amount
Value
New
Jersey
(continued)
$
10,000,000
New
Jersey
Educational
Facilities
Authority
University
&
College
Improvements
Revenue
Bonds,
Series
A,
5.00%,
03/01/32
...........
$
12,314,552
4,920,000
New
Jersey
Educational
Facilities
Authority
University
&
College
Improvements
Revenue
Bonds,
Series
A,
5.00%,
09/01/22
...........
4,933,121
1,500,000
New
Jersey
Health
Care
Facilities
Financing
Authority
Revenue
Bonds,
5.00%,
07/01/23
...........
1,540,911
12,500,000
New
Jersey
Health
Care
Facilities
Financing
Authority
Revenue
Bonds,
5.00%,
07/01/24
...........
13,248,938
7,500,000
New
Jersey
Health
Care
Facilities
Financing
Authority
Revenue
Bonds,
5.00%,
07/01/25
...........
8,160,310
1,000,000
New
Jersey
Health
Care
Facilities
Financing
Authority
Revenue
Bonds,
5.00%,
07/01/26
...........
1,114,626
1,000,000
New
Jersey
Health
Care
Facilities
Financing
Authority
Revenue
Bonds,
5.00%,
07/01/27
...........
1,140,032
1,055,000
New
Jersey
Health
Care
Facilities
Financing
Authority
Revenue
Bonds,
5.00%,
07/01/29
...........
1,233,633
1,000,000
New
Jersey
Health
Care
Facilities
Financing
Authority
Revenue
Bonds,
5.00%,
07/01/30
...........
1,180,760
1,000,000
New
Jersey
Health
Care
Facilities
Financing
Authority
RWJ
Barnabas
Health
System
Obligated
Group
Refunding
Revenue
Bonds,
5.00%,
07/01/23
...........
1,030,136
4,455,000
New
Jersey
Infrastructure
Bank
Green
Purpose
Revenue
Bonds,
5.00%,
09/01/26
...........
5,022,183
10,300,000
New
Jersey
Transportation
Trust
Fund
Authority
Current
Refunding
Revenue
Bonds,
Series
A,
5.00%,
06/15/23
...........
10,575,127
Old
Westbury
Funds,
Inc.
Municipal
Bond
Fund
Portfolio
of
Investments
-
(Continued)
13
July
31,
2022
(Unaudited)
Principal
Amount
Value
New
Jersey
(continued)
$
3,210,000
New
Jersey
Transportation
Trust
Fund
Authority
Highway
Improvements
Revenue
Bonds,
Series
BB,
5.00%,
06/15/31
...........
$
3,642,245
7,250,000
New
Jersey
Transportation
Trust
Fund
Authority
Highway
Improvements
Revenue
Bonds,
Series
BB,
5.00%,
06/15/32
...........
8,190,482
5,000,000
New
Jersey
Transportation
Trust
Fund
Authority
Highway
Improvements
Revenue
Bonds,
Series
BB,
5.00%,
06/15/33
...........
5,618,077
1,770,000
New
Jersey
Transportation
Trust
Fund
Authority
Transit
Improvements
Refunding
Revenue
Bonds,
Series
A,
5.25%,
12/15/22
...........
1,792,847
9,000,000
New
Jersey
Turnpike
Authority
Advance
Refunding
Revenue
Bonds,
Series
B,
1.28%,
01/01/27
...........
8,164,714
1,000,000
New
Jersey
Turnpike
Authority
Advance
Refunding
Revenue
Bonds,
Series
B,
5.00%,
01/01/27
...........
1,122,998
5,500,000
New
Jersey
Turnpike
Authority
Advance
Refunding
Revenue
Bonds,
Series
B,
1.81%,
01/01/30
...........
4,765,643
2,380,000
New
Jersey
Turnpike
Authority
Current
Refunding
Revenue
Bonds,
Series
C,
5.00%,
01/01/25
...........
2,556,603
2,775,000
New
Jersey
Turnpike
Authority
Highway
Improvements
Revenue
Bonds
Series
A,
5.00%,
01/01/27
...........
3,116,320
2,145,000
New
Jersey
Turnpike
Authority
Highway
Improvements
Revenue
Bonds
Series
A,
5.00%,
01/01/29
...........
2,266,502
2,500,000
New
Jersey
Turnpike
Authority
Highway
Improvements
Revenue
Bonds
Series
A,
5.00%,
01/01/29
...........
2,782,973
Principal
Amount
Value
New
Jersey
(continued)
$
3,250,000
New
Jersey
Turnpike
Authority
Highway
Improvements
Revenue
Bonds,
Series
E,
5.00%,
01/01/32
...........
$
3,459,233
3,000,000
New
Jersey
Turnpike
Authority
Highway
Improvements
Revenue
Bonds,
Series
E,
5.00%,
01/01/33
...........
3,188,940
4,000,000
New
Jersey
Turnpike
Authority
Highway
Improvements
Revenue
Bonds,Series
A,
5.00%,
01/01/34
...........
4,368,452
2,000,000
Rutgers
The
State
University
of
New
Jersey
Advance
Refunding
Revenue
Bonds,
Series
S,
1.66%,
05/01/28
...........
1,799,312
20,000,000
State
of
New
Jersey
COVID-19
GO,
Series
A,
5.00%,
06/01/24
...........
21,150,750
162,251,308
New
Mexico
—
0.3%
1,000,000
Hobbs
School
District
No
16
School
Improvements
GO,
Series
A,
(State
Aid
Withholding),
5.00%,
09/15/28
...........
1,064,289
10,000,000
New
Mexico
Finance
Authority
Public
Improvements
Revenue
Bonds,
Series
A,
5.00%,
06/15/30
...........
11,999,004
13,063,293
New
York
—
13.1%
30,000,000
City
of
New
York
Advance
Refunding
GO,
Series
C,
5.00%,
08/01/22
...........
30,000,000
10,000,000
City
of
New
York
Current
Refunding
GO,
Series
B-1,
5.00%,
08/01/23
...........
10,345,857
10,000,000
City
of
New
York
Current
Refunding
GO,
Series
B-1,
5.00%,
08/01/24
...........
10,655,364
5,000,000
City
of
New
York
Current
Refunding
GO,
Series
B-1,
5.00%,
08/01/25
...........
5,471,481
5,000,000
City
of
New
York
Current
Refunding
GO,
Series
B-1,
5.00%,
08/01/26
...........
5,602,319
5,000,000
City
of
New
York
Current
Refunding
GO,
Series
B-1,
5.00%,
08/01/28
...........
5,818,749
Old
Westbury
Funds,
Inc.
Municipal
Bond
Fund
Portfolio
of
Investments
-
(Continued)
14
July
31,
2022
(Unaudited)
Principal
Amount
Value
New
York
(continued)
$
15,000,000
City
of
New
York
Current
Refunding
GO,
Series
E,
5.00%,
08/01/23
...........
$
15,518,786
9,400,000
City
of
New
York
Current
Refunding
GO,
Series
E,
5.00%,
08/01/24
...........
10,016,042
1,400,000
City
of
New
York
Public
Improvements
GO,
Series
I,
Subseries
I-A,
5.00%,
04/01/28(c)
.........
1,621,316
2,910,000
City
of
New
York
Public
Improvements
GO,
Sub-Series
D-1,
5.00%,
08/01/22
...........
2,910,000
20,000,000
City
of
New
York
Public
Improvements
GO,
Sub-Series
D-3,
5.00%,
08/01/38(c)
.........
20,451,226
2,135,000
City
of
New
York
Public
Improvements
GO,
Sub-Series
F-1,
5.00%,
03/01/24
...........
2,180,548
650,000
City
of
New
York
Refunding
GO,
Series
C,
5.00%,
08/01/22
...........
650,000
18,500,000
City
of
New
York
Refunding
GO,
Series
G,
5.00%,
08/01/22
...........
18,500,000
5,000,000
City
of
New
York
Refunding
GO,
Series
I,
5.00%,
08/01/25
...........
5,147,725
9,450,000
City
of
New
York
Refunding
GO,
Series
J,
Sub-Series
J11,
5.00%,
08/01/25(c)
.........
10,341,100
4,000,000
Long
Island
Power
Authority
Revenue
Bonds,
Series
A,
5.00%,
09/01/30
...........
4,764,612
2,055,000
Metropolitan
Transportation
Authority
Advance
Refunding
Revenue
Bonds,
Series
A,
5.25%,
11/15/31
...........
2,281,545
3,020,000
Metropolitan
Transportation
Authority
Current
Refunding
Revenue
Bonds,
Series
F,
5.00%,
11/15/30
...........
3,044,236
24,820,000
Metropolitan
Transportation
Authority
Refunding
Revenue
Bonds,
Series
D-1,
5.00%,
09/01/22
...........
24,890,697
Principal
Amount
Value
New
York
(continued)
$
3,545,000
New
York
City
Municipal
Water
Finance
Authority
Current
Refunding
Revenue
Bonds,
Series
AA,
5.00%,
06/15/24
...........
$
3,767,067
6,200,000
New
York
City
Municipal
Water
Finance
Authority
Improvements
Revenue
Bonds,
Series
BB-2,
5.00%,
06/15/25
...........
6,481,639
1,000,000
New
York
City
Municipal
Water
Finance
Authority
Refunding
Revenue
Bonds,
Series
DD-2,
5.00%,
06/15/25
...........
1,045,426
1,000,000
New
York
City
Municipal
Water
Finance
Authority
Water
Utility
Improvements
Revenue
Bonds,
Series
DD-2,
5.00%,
06/15/24
...........
1,013,779
2,045,000
New
York
City
Transitional
Finance
Authority
Building
Aid
Pre-
refunded
Revenue
Bonds,
Series
S,
(State
Aid
Withholding),
5.00%,
07/15/24
...........
2,172,830
10,000,000
New
York
City
Transitional
Finance
Authority
Building
Aid
Revenue
Current
Refunding
Revenue
Bonds,
Series
S-1A,
(State
Aid
Withholding),
5.00%,
07/15/30
...........
11,900,393
5,000,000
New
York
City
Transitional
Finance
Authority
Building
Aid
Revenue
Current
Refunding
Revenue
Bonds,
Series
S-1A,
(State
Aid
Withholding),
5.00%,
07/15/31
...........
6,008,388
10,000,000
New
York
City
Transitional
Finance
Authority
Building
Aid
Revenue
Current
Refunding
Revenue
Bonds,
Series
S-1A,
(State
Aid
Withholding),
5.00%,
07/15/32
...........
12,133,207
1,850,000
New
York
City
Transitional
Finance
Authority
Building
Aid
Revenue
Refunding
Revenue
Bonds,
Sub-Series
S-4A,
(State
Aid
Withholding),
5.00%,
07/15/25
...........
2,023,211
Old
Westbury
Funds,
Inc.
Municipal
Bond
Fund
Portfolio
of
Investments
-
(Continued)
15
July
31,
2022
(Unaudited)
Principal
Amount
Value
New
York
(continued)
$
1,670,000
New
York
City
Transitional
Finance
Authority
Building
Aid
Revenue
School
Improvements
Revenue
Bonds,
Series
S1,
(State
Aid
Withholding),
5.00%,
07/15/24
...........
$
1,777,879
2,750,000
New
York
City
Transitional
Finance
Authority
Building
Aid
Revenue
School
Improvements
Revenue
Bonds,
Series
S1,
(State
Aid
Withholding),
5.00%,
07/15/29
...........
3,227,006
1,350,000
New
York
City
Transitional
Finance
Authority
Future
Tax
Secured
Advanced
Refunding
Revenue
Bonds,
Series
C,
5.00%,
11/01/23
...........
1,407,880
3,585,000
New
York
City
Transitional
Finance
Authority
Future
Tax
Secured
Current
Refunding
Revenue
Bonds,
5.00%,
11/01/26
...........
4,040,810
3,000,000
New
York
City
Transitional
Finance
Authority
Future
Tax
Secured
Current
Refunding
Revenue
Bonds,
5.00%,
11/01/27
...........
3,446,620
7,465,000
New
York
City
Transitional
Finance
Authority
Future
Tax
Secured
Current
Refunding
Revenue
Bonds,
5.00%,
11/01/28
...........
8,690,954
5,000,000
New
York
City
Transitional
Finance
Authority
Future
Tax
Secured
Current
Refunding
Revenue
Bonds,
5.00%,
11/01/29
...........
5,895,237
10,000,000
New
York
City
Transitional
Finance
Authority
Future
Tax
Secured
Current
Refunding
Revenue
Bonds,
5.00%,
11/01/30
...........
11,936,072
8,450,000
New
York
City
Transitional
Finance
Authority
Future
Tax
Secured
Revenue
Cash
Flow
Management
Revenue
Bonds,
Series
F-1,
5.00%,
02/01/40
...........
9,626,895
Principal
Amount
Value
New
York
(continued)
$
9,500,000
New
York
City
Transitional
Finance
Authority
Future
Tax
Secured
Revenue
Current
Refunding
Revenue
Bonds,
5.00%,
11/01/22
...........
$
9,585,132
4,210,000
New
York
City
Transitional
Finance
Authority
Future
Tax
Secured
Revenue
Public
Improvements
Revenue
Bonds,
5.00%,
02/01/29
...........
4,398,758
9,000,000
New
York
City
Transitional
Finance
Authority
Future
Tax
Secured
Revenue
Public
Improvements
Revenue
Bonds,
5.00%,
02/01/31
...........
10,037,417
9,100,000
New
York
State
Dormitory
Authority
Advance
Refunding
Revenue
Bonds,
Series
A,
5.00%,
03/15/23
...........
9,299,951
2,000,000
New
York
State
Dormitory
Authority
Advance
Refunding
Revenue
Bonds,
Series
E,
5.00%,
03/15/31
...........
2,170,767
5,000,000
New
York
State
Dormitory
Authority
Public
Improvements
Revenue
Bonds,
Series
B,
5.00%,
02/15/28
...........
5,380,418
4,660,000
New
York
State
Dormitory
Authority
Refunding
Revenue
Bonds,
Series
A,
5.00%,
02/15/26
...........
4,881,814
12,000,000
New
York
State
Dormitory
Authority
School
Improvement
Revenue
Bonds,
Group
2,
Series
A,
5.00%,
03/15/29
...........
13,741,180
5,200,000
New
York
State
Dormitory
Authority
School
Improvement
Revenue
Bonds,
Series
A,
5.00%,
03/15/25
...........
5,465,780
6,290,000
New
York
State
Dormitory
Authority
School
Improvement
Revenue
Bonds,
Series
A,
5.00%,
03/15/27
...........
7,160,417
10,000,000
New
York
State
Dormitory
Authority
School
Improvement
Revenue
Bonds,
Series
C,
5.00%,
03/15/27
...........
11,383,811
Old
Westbury
Funds,
Inc.
Municipal
Bond
Fund
Portfolio
of
Investments
-
(Continued)
16
July
31,
2022
(Unaudited)
Principal
Amount
Value
New
York
(continued)
$
5,000,000
New
York
State
Dormitory
Authority
University
&
College
Improvements
Revenue
Bonds,
Series
A,
5.00%,
03/15/25
...........
$
5,421,148
5,000,000
New
York
State
Dormitory
Authority
University
&
College
Improvements
Revenue
Bonds,
Series
A,
5.00%,
03/15/26
...........
5,557,097
5,000,000
New
York
State
Dormitory
Authority
University
&
College
Improvements
Revenue
Bonds,
Series
A,
5.00%,
03/15/28
...........
5,769,240
4,000,000
New
York
State
Dormitory
Authority
University
&
College
Improvements
Revenue
Bonds,
Series
A,
5.00%,
03/15/29
...........
4,681,667
4,500,000
New
York
State
Dormitory
Authority
University
&
College
Improvements
Revenue
Bonds,
Series
A,
5.00%,
03/15/30
...........
5,339,298
1,750,000
New
York
State
Dormitory
Authority
University
and
College
Improvements
Revenue
Bonds,
Series
A,
5.00%,
03/15/26
...........
1,836,284
7,500,000
New
York
State
Environmental
Facilities
Corp.
Current
Refunding
Revenue
Bonds,
5.00%,
06/15/29
...........
8,921,452
5,000,000
New
York
State
Environmental
Facilities
Corp.
Current
Refunding
Revenue
Bondss,
5.00%,
06/15/29
...........
5,297,964
2,000,000
New
York
State
Urban
Development
Corp.
Advance
Refunding
Revenue
Bonds,
Series
A,
5.00%,
03/15/24
...........
2,106,833
2,105,000
New
York
State
Urban
Development
Corp.
Advance
Refunding
Revenue
Bonds,
Series
A,
5.00%,
03/15/27
...........
2,321,634
1,000,000
New
York
State
Urban
Development
Corp.
Current
Refunding
Revenue
Bonds,
Series
A,
5.00%,
03/15/28
...........
1,086,015
Principal
Amount
Value
New
York
(continued)
$
4,000,000
New
York
State
Urban
Development
Corp.
Economic
Improvements
Revenue
Bonds,
5.00%,
03/15/28
...........
$
4,619,983
5,000,000
New
York
State
Urban
Development
Corp.
Economic
Improvements
Revenue
Bonds,
5.00%,
03/15/29
...........
5,852,084
5,000,000
New
York
State
Urban
Development
Corp.
Economic
Improvements
Revenue
Bonds,
5.00%,
03/15/31
...........
5,889,951
10,000,000
New
York
State
Urban
Development
Corp.
Economic
Improvements
Revenue
Bonds,
5.00%,
03/15/32
...........
11,708,448
5,875,000
New
York
State
Urban
Development
Corp.
Personal
Income
Tax
Advance
Refunding
Revenue,
Series
A,
5.00%,
03/15/25
...........
6,360,402
10,000,000
New
York
State
Urban
Development
Corp.
Transit
Improvements
Refunding
Revenue
Bonds,
Series
A,
5.00%,
03/15/30
...........
11,849,762
3,500,000
Port
Authority
of
New
York
&
New
Jersey
Current
Refunding
Revenue
Bonds,
Series
223,
5.00%,
07/15/30
...........
4,028,162
5,715,000
Port
Authority
of
New
York
&
New
Jersey
Refunding
Revenue
Bonds,
Series
179,
5.00%,
12/01/27
...........
5,954,573
5,880,000
Port
Authority
of
New
York
&
New
Jersey
Refunding
Revenue
Bonds,
Series
179,
5.00%,
12/01/28
...........
6,124,905
3,800,000
Port
Authority
of
New
York
&
New
Jersey
Refunding
Revenue
Bonds,
Series
221,
5.00%,
07/15/23
...........
3,907,848
1,000,000
Port
Authority
of
New
York
&
New
Jersey
Refunding
Revenue
Bonds,
Series
221,
5.00%,
07/15/24
...........
1,053,707
4,195,000
Port
Authority
of
New
York
&
New
Jersey
Refunding
Revenue
Bonds,
Series
221,
5.00%,
07/15/25
...........
4,526,074
Old
Westbury
Funds,
Inc.
Municipal
Bond
Fund
Portfolio
of
Investments
-
(Continued)
17
July
31,
2022
(Unaudited)
Principal
Amount
Value
New
York
(continued)
$
4,885,000
Port
Authority
of
New
York
&
New
Jersey
Refunding
Revenue
Bonds,
Series
221,
5.00%,
07/15/26
...........
$
5,371,586
5,255,000
Port
Authority
of
New
York
&
New
Jersey
Refunding
Revenue
Bonds,
Series
221,
5.00%,
07/15/27
...........
5,877,370
5,750,000
Port
Authority
of
New
York
&
New
Jersey
Refunding
Revenue
Bonds,
Series
221,
5.00%,
07/15/29
...........
6,560,790
10,000,000
Triborough
Bridge
&
Tunnel
Authority
Highway
Improvements
Revenue
Bonds,
Series
A,
1.42%,
11/01/41(b)
.........
10,000,000
3,500,000
Triborough
Bridge
&
Tunnel
Authority
Refunding
Revenue
Bonds,
5.00%,
05/15/27
...........
3,996,883
7,000,000
Triborough
Bridge
&
Tunnel
Authority
Refunding
Revenue
Bonds,
5.00%,
05/15/31
...........
8,487,920
1,600,000
Utility
Debt
Securitization
Authority
Restructuring
Refunding
Revenue
Bonds,
5.00%,
12/15/24
...........
1,620,505
532,441,926
North
Carolina
—
2.4%
2,500,000
Charlotte-Mecklenburg
Hospital
Authority
Current
Refunding
Revenue
Bonds,
Series
A,
5.00%,
01/15/30
...........
2,935,378
5,310,000
Charlotte-Mecklenburg
Hospital
Authority
Current
Refunding
Revenue
Bonds,
Series
A,
5.00%,
01/15/31
...........
6,256,119
1,260,000
City
of
Durham
NC
Water
&
Sewer
Utility
System
Revenue
Refunding
Revenue
Bonds,
5.00%,
08/01/26
...........
1,416,444
1,300,000
City
of
Durham
NC
Water
&
Sewer
Utility
System
Revenue
Refunding
Revenue
Bonds,
5.00%,
08/01/28
...........
1,519,262
7,720,000
County
of
Wake
School
Improvements
GO,
Series
A,
5.00%,
02/01/28
...........
8,974,501
8,580,000
County
of
Wake
School
Improvements
GO,
Series
A,
5.00%,
02/01/29
...........
10,143,134
Principal
Amount
Value
North
Carolina
(continued)
$
8,600,000
County
of
Wake
School
Improvements
GO,
Series
A,
5.00%,
02/01/30
...........
$
10,338,464
10,000,000
State
of
North
Carolina
Advance
Refunding
Revenue
Bonds,
Series
B,
5.00%,
05/01/23
...........
10,262,327
1,000,000
State
of
North
Carolina
Advance
Refunding
Revenue
Bonds,
Series
B,
5.00%,
05/01/24
...........
1,058,525
8,950,000
State
of
North
Carolina
GO,
Series
B,
5.00%,
06/01/30
...........
10,566,033
2,000,000
State
of
North
Carolina
Highway
Improvements
Revenue
Bonds,
Series
A,
5.00%,
05/01/25
...........
2,175,372
3,250,000
State
of
North
Carolina
Highway
Improvements
Revenue
Bonds,
Series
A,
5.00%,
05/01/27
...........
3,715,403
3,000,000
State
of
North
Carolina
Highway
Improvements
Revenue
Bonds,
Series
A,
5.00%,
05/01/31
...........
3,630,958
7,600,000
State
of
North
Carolina
Highway
Improvements
Revenue
Bonds,
Series
B,
5.00%,
05/01/28
...........
8,848,214
2,650,000
State
of
North
Carolina
Revenue
Bonds,
5.00%,
03/01/23
...........
2,702,526
3,250,000
State
of
North
Carolina
Revenue
Bonds,
5.00%,
03/01/24
...........
3,416,638
3,250,000
State
of
North
Carolina
Revenue
Bonds,
5.00%,
03/01/25
...........
3,518,331
2,555,000
State
of
North
Carolina
Revenue
Bonds,
5.00%,
03/01/26
...........
2,838,843
2,750,000
State
of
North
Carolina
Revenue
Bonds,
5.00%,
03/01/28
...........
3,176,009
97,492,481
Ohio
—
2.9%
1,000,000
Central
Ohio
Solid
Waste
Authority
Advance
Refunding
GO,
5.00%,
12/01/24
...........
1,076,595
Old
Westbury
Funds,
Inc.
Municipal
Bond
Fund
Portfolio
of
Investments
-
(Continued)
18
July
31,
2022
(Unaudited)
Principal
Amount
Value
Ohio
(continued)
$
2,225,000
City
of
Columbus
Advance
Refunding
GO,
Series
2017-1,
5.00%,
04/01/24
...........
$
2,350,629
2,000,000
City
of
Columbus
Refunding
GO,
Series
5,
5.00%,
08/15/23
...........
2,072,359
1,100,000
County
of
Cuyahoga
Refunding
Revenue
Bonds,
5.00%,
12/01/22
...........
1,113,122
1,000,000
County
of
Hamilton
Sewer
System
Refunding
Revenue
Bonds,
Series
A,
5.00%,
12/01/26
...........
1,074,212
1,515,000
County
of
Hamilton
Sewer
System
Refunding
Revenue
Bonds,
Series
A,
5.00%,
12/01/27
...........
1,627,431
1,000,000
Greater
Cleveland
Regional
Transit
Authority
Sales
Tax
Revenue
Capital
Improvements
Advance
Refunding
Revenue
Bonds,
5.00%,
12/01/23
...........
1,044,216
1,030,000
Hamilton
City
School
District
Advance
Refunding
GO,
(School
District
Credit
Program),
5.00%,
12/01/22
...........
1,041,803
1,000,000
Ohio
State
University
Revenue
Bonds,
Series
A,
5.00%,
12/01/28
...........
1,165,151
3,000,000
Ohio
Water
Development
Authority
Revenue
Bonds,
5.00%,
06/01/26
...........
3,357,441
8,750,000
Ohio
Water
Development
Authority
Water
Pollution
Control
Loan
Fund
Improvements
Revenue
Bonds,
Series
A,
5.00%,
12/01/38
...........
10,311,444
3,375,000
Ohio
Water
Development
Authority
Water
Pollution
Control
Loan
Fund
Pollution
Control
Revenue
Bonds,
Series
B,
5.00%,
06/01/23
...........
3,474,377
3,300,000
Ohio
Water
Development
Authority
Water
Pollution
Control
Loan
Fund
Pollution
Control
Revenue
Bonds,
Series
B,
5.00%,
06/01/24
...........
3,502,182
Principal
Amount
Value
Ohio
(continued)
$
1,410,000
Ohio
Water
Development
Authority
Water
Pollution
Control
Loan
Fund
Pollution
Control
Revenue
Bonds,
Series
B,
5.00%,
06/01/25
...........
$
1,539,090
10,000,000
Ohio
Water
Development
Authority
Water
Pollution
Control
Loan
Fund
Revenue
Bond,
Series
2015-A,
5.00%,
12/01/24
...........
10,765,946
10,285,000
Ohio
Water
Development
Authority
Water
Utility
Improvements
Revenue
Bonds,
5.00%,
06/01/28
...........
11,920,436
14,000,000
Ohio
Water
Development
Authority
Water
Utility
Improvements
Revenue
Bonds,
Series
A,
5.00%,
06/01/29
...........
16,505,437
3,575,000
Ohio
Water
Development
Authority
Water
Utility
Improvements
Revenue
Bonds,
Series
B,
5.00%,
06/01/26
...........
4,000,950
10,000,000
State
of
Ohio
Advance
Refunding
GO,
Series
A,
5.00%,
12/15/24
...........
10,765,652
4,000,000
State
of
Ohio
Current
Refunding
GO,
Series
C,
5.00%,
03/15/28
...........
4,647,644
1,690,000
State
of
Ohio
Department
of
Administration
Telecommunications
Improvements
COP,
5.00%,
09/01/24
...........
1,802,897
1,445,000
State
of
Ohio
Department
of
Administration
Telecommunications
Improvements
COP,
5.00%,
09/01/24
...........
1,541,530
2,000,000
State
of
Ohio
Highway
Improvements
Revenue
Bonds,
Series
1-A,
5.00%,
12/15/29
...........
2,375,467
2,000,000
State
of
Ohio
Mental
Health
Facility
Improvements
Revenue
Bonds,
Series
A,
5.00%,
06/01/25
...........
2,177,306
2,185,000
State
of
Ohio
Public
Facilities
Revenue
Bonds,
Series
A,
5.00%,
02/01/26
...........
2,419,567
1,415,000
State
of
Ohio
Public
Improvements
Revenue
Bonds,
Series
A,
5.00%,
02/01/24
...........
1,485,745
Old
Westbury
Funds,
Inc.
Municipal
Bond
Fund
Portfolio
of
Investments
-
(Continued)
19
July
31,
2022
(Unaudited)
Principal
Amount
Value
Ohio
(continued)
$
5,000,000
State
of
Ohio
School
Improvements
GO,
Series
B,
5.00%,
06/15/23
...........
$
5,152,040
5,445,000
State
of
Ohio
University
and
College
Improvements
GO,
Series
A,
5.00%,
05/01/28
...........
5,893,424
116,204,093
Oklahoma
—
0.5%
5,675,000
Oklahoma
City
Water
Utilities
Trust
Advance
Refunding
Revenue
Bonds,
3.68%,
07/01/29
...........
5,813,031
1,500,000
Oklahoma
Turnpike
Authority
Refunding
Revenue
Bonds,
Series
A,
5.00%,
01/01/24
...........
1,569,568
1,000,000
Oklahoma
Turnpike
Authority
Refunding
Revenue
Bonds,
Series
A,
5.00%,
01/01/25
...........
1,075,925
2,000,000
Oklahoma
Turnpike
Authority
Refunding
Revenue
Bonds,
Series
A,
5.00%,
01/01/26
...........
2,207,283
2,000,000
Oklahoma
Turnpike
Authority
Refunding
Revenue
Bonds,
Series
A,
5.00%,
01/01/28
...........
2,301,684
5,000,000
Oklahoma
Turnpike
Authority
Refunding
Revenue
Bonds,
Series
D,
5.00%,
01/01/26
...........
5,518,209
2,985,000
Oklahoma
Turnpike
Authority
Refunding
Revenue
Bonds,
Series
D,
5.00%,
01/01/28
...........
3,435,263
21,920,963
Oregon
—
0.9%
5,000,000
City
of
Portland
Sewer
System
Revenue
Sewer
Improvements
Revenue
Bonds,
Series
A,
5.00%,
03/01/30
...........
5,937,219
5,000,000
Port
of
Portland
Airport
&
Marina
Improvements
Revenue
Bonds,
Series
28,
5.00%,
07/01/31
...........
5,784,830
5,000,000
Port
of
Portland
Airport
&
Marina
Improvements
Revenue
Bonds,
Series
28,
5.00%,
07/01/32
...........
5,830,532
Principal
Amount
Value
Oregon
(continued)
$
5,000,000
Port
of
Portland
Airport
&
Marina
Improvements
Revenue
Bonds,
Series
28,
5.00%,
07/01/33
...........
$
5,787,461
3,290,000
State
of
Oregon
Advance
Refunding
GO,
Series
M,
5.00%,
11/01/23
...........
3,431,055
10,350,000
State
of
Oregon
Facilities
Improvements
GO,
Series
A,
5.00%,
05/01/25
...........
11,272,123
38,043,220
Pennsylvania
—
2.0%
10,000,000
Commonwealth
of
Pennsylvania
Advance
Refunding
GO,
5.00%,
07/15/26
...........
11,200,824
8,245,000
General
Authority
of
Southcentral
Pennsylvania
Pre-refunded
Refunding
Revenue
Bonds,
5.00%,
06/01/44(a)
.........
8,743,987
7,870,000
Pennsylvania
Higher
Educational
Facilities
Authority
Advance
Refunding
Revenue
Bonds,
Series
B,
5.00%,
10/01/23
...........
8,183,280
3,500,000
Pennsylvania
Intergovernmental
Cooperation
Authority
Special
Tax
Revenue
Refunding
Bonds,
5.00%,
06/15/23
...........
3,605,502
1,700,000
Philadelphia
Authority
for
Industrial
Development
Refunding
Revenue
Bonds,
5.00%,
07/01/25
...........
1,849,670
7,000,000
Philadelphia
Authority
for
Industrial
Development
Refunding
Revenue
Bonds,
5.00%,
07/01/26
...........
7,802,381
5,890,000
Philadelphia
Authority
for
Industrial
Development
Refunding
Revenue
Bonds,
5.00%,
07/01/27
...........
6,714,788
6,275,000
Philadelphia
Authority
for
Industrial
Development
Refunding
Revenue
Bonds,
5.00%,
07/01/28
...........
7,248,345
8,500,000
Philadelphia
Authority
for
Industrial
Development
Refunding
Revenue
Bonds,
5.00%,
07/01/29
...........
9,939,221
Old
Westbury
Funds,
Inc.
Municipal
Bond
Fund
Portfolio
of
Investments
-
(Continued)
20
July
31,
2022
(Unaudited)
Principal
Amount
Value
Pennsylvania
(continued)
$
6,500,000
Philadelphia
Authority
for
Industrial
Development
Refunding
Revenue
Bonds,
5.00%,
07/01/30
...........
$
7,674,941
6,000,000
Philadelphia
Authority
for
Industrial
Development
Refunding
Revenue
Bonds,
5.00%,
07/01/31
...........
7,138,277
80,101,216
Rhode
Island
—
0.2%
6,950,000
Rhode
Island
Commerce
Corp.
Grant
Anticipation
Current
Refunding
Revenue,
5.00%,
06/15/23
...........
7,155,819
1,045,000
State
of
Rhode
Island
Advance
Refunding
COP,
Series
D,
5.00%,
04/01/25
...........
1,130,968
1,010,000
State
of
Rhode
Island
University
&
College
Improvements
COP,
Series
A,
5.00%,
06/01/25
...........
1,097,786
9,384,573
South
Carolina
—
0.4%
4,010,000
Darlington
County
School
District
School
Improvement
GO,
(South
Carolina
School
District
Enhancement),
5.00%,
03/01/27
...........
4,566,502
2,950,000
Spartanburg
County
School
District
No
5
School
Improvements
GO,
(South
Carolina
School
District
Enhancement),
5.00%,
03/01/27
...........
3,359,396
3,150,000
Spartanburg
County
School
District
No
5
School
Improvements
GO,
(South
Carolina
School
District
Enhancement),
5.00%,
03/01/28
...........
3,648,779
3,310,000
Spartanburg
County
School
District
No
5
School
Improvements
GO,
(South
Carolina
School
District
Enhancement),
5.00%,
03/01/29
...........
3,891,762
15,466,439
South
Dakota
—
0.3%
2,125,000
South
Dakota
Conservancy
District
Water
Utility
Improvements
Revenue
Bonds,
5.00%,
08/01/29
...........
2,520,878
Principal
Amount
Value
South
Dakota
(continued)
$
1,950,000
South
Dakota
Conservancy
District
Water
Utility
Improvements
Revenue
Bonds,
5.00%,
08/01/31
...........
$
2,323,502
5,155,000
South
Dakota
Conservancy
District
Water
Utility
Improvements
Revenue
Bonds,
5.00%,
08/01/39
...........
5,948,175
2,455,000
South
Dakota
Conservancy
District
Water
Utility
Improvements
Revenue
Bonds,
Series
B,
5.00%,
08/01/29
...........
2,608,901
13,401,456
Tennessee
—
0.3%
2,000,000
City
of
Clarksville
TN
Water
Sewer
&
Gas
Revenue
Water
Utility
Improvements
Revenue
Bonds,
Series
A,
5.00%,
02/01/29
...........
2,337,807
1,000,000
County
of
Montgomery
Advance
Refunding
School
Improvements
GO,
5.00%,
04/01/26
...........
1,113,390
3,880,000
Metropolitan
Government
of
Nashville
&
Davidson
County
TN
Water
&
Sewer
Revenue
Refunding
Revenue
Bonds,
Series
A,
5.00%,
07/01/24
...........
4,124,569
1,005,000
State
of
Tennessee
Refunding
GO,
Series
A,
5.00%,
09/01/23
...........
1,043,394
2,165,000
Tennessee
State
School
Bond
Authority
Pre-refunded
Advance
Refunding
Revenue
Bonds,
Series
B,
(State
Aid
Intercept
Program),
5.00%,
11/01/30(a)
.........
2,385,959
11,005,119
Texas
—
10.0%
1,335,000
Allen
Independent
School
District
School
Improvements
GO,
(PSF-GTD),
5.00%,
02/15/23
...........
1,360,307
1,720,000
Alvin
Independent
School
District
Improvements
Refunding
GO,
Series
A,
(PSF-GTD),
5.00%,
02/15/26
...........
1,908,946
1,315,000
Austin
Community
College
District
Refunding
GO,
5.00%,
08/01/27
...........
1,472,332
Old
Westbury
Funds,
Inc.
Municipal
Bond
Fund
Portfolio
of
Investments
-
(Continued)
21
July
31,
2022
(Unaudited)
Principal
Amount
Value
Texas
(continued)
$
5,000,000
Austin
Independent
School
District
School
Improvements
GO,
(PSF-GTD),
5.00%,
08/01/31
...........
$
6,051,781
7,000,000
Board
of
Regents
of
the
University
of
Texas
System
Advance
Refunding
Revenue
Bonds,
Series
C,
5.00%,
08/15/26
...........
7,891,236
5,000,000
Board
of
Regents
of
the
University
of
Texas
System
Refunding
Revenue
Bonds,
Series
A,
5.00%,
08/15/32
...........
6,186,407
1,065,000
Board
of
Regents
of
the
University
of
Texas
System
Refunding
Revenue
Bonds,
Series
A,
5.00%,
08/15/29
...........
1,128,126
5,000,000
Board
of
Regents
of
the
University
of
Texas
System
Refunding
Revenue
Bonds,
Series
A,
5.00%,
08/15/31
...........
6,109,214
4,000,000
Board
of
Regents
of
the
University
of
Texas
System
University
and
College
Improvements
Revenue,
Series
D,
5.00%,
08/15/23
...........
4,143,036
1,075,000
Bonham
Independent
School
District
Improvements
GO,
(PSF-GTD),
5.00%,
08/01/27
...........
1,204,499
1,700,000
City
of
Austin
Public
Improvements
GO,
5.00%,
11/01/22
...........
1,715,020
1,465,000
City
of
Austin
Public
Improvements
GO,
5.00%,
09/01/26
...........
1,560,693
2,000,000
City
of
Austin
TX
Airport
System
Revenue
Airport
&
Marina
Improvements
Revenue
Bonds,
5.00%,
11/15/25
...........
2,169,586
5,000,000
City
of
Austin
TX
Airport
System
Revenue
Airport
&
Marina
Improvements
Revenue
Bonds,
5.00%,
11/15/28
...........
5,655,169
1,250,000
City
of
Austin
TX
Airport
System
Revenue
Airport
&
Marina
Improvements
Revenue
Bonds,
5.00%,
11/15/32
...........
1,458,628
4,000,000
City
of
Austin
TX
Water
&
Wastewater
System
Revenue
Current
Refunding
Revenue
Bonds,
5.00%,
11/15/26
...........
4,528,572
Principal
Amount
Value
Texas
(continued)
$
5,000,000
City
of
Austin
Water
&
Wastewater
System
Advance
Refunding
Revenue
Bonds,
5.00%,
11/15/29
...........
$
5,585,452
4,020,000
City
of
College
Station
Improvements
Advance
Refunding
GO,
5.00%,
02/15/25
...........
4,345,604
2,075,000
City
of
Denton
Public
Improvements
GO,
5.00%,
02/15/23
...........
2,112,760
1,715,000
City
of
Denton
Public
Improvements
GO,
5.00%,
02/15/24
...........
1,802,249
1,290,000
City
of
Denton
Public
Improvements
GO,
5.00%,
02/15/28
...........
1,420,522
5,000,000
City
of
El
Paso
TX
Water
&
Sewer
Revenue
Water
Utility
Improvements
Revenue
Bonds,
5.00%,
03/01/30
...........
5,921,938
1,250,000
City
of
El
Paso
Water
&
Sewer
Refunding
Revenue
Bonds,
5.00%,
03/01/26(a)
.........
1,316,102
5,145,000
City
of
Fort
Worth
Water
&
Sewer
System
Improvements
Refunding
Revenue
Bonds,
5.00%,
02/15/25
...........
5,563,059
1,000,000
City
of
Houston
TX
Airport
System
Revenue
Refunding
Revenue
Bonds,
Sub-Series
A,
5.00%,
07/01/24
...........
1,052,171
1,250,000
City
of
Houston
TX
Airport
System
Revenue
Refunding
Revenue
Bonds,
Sub-Series
A,
5.00%,
07/01/26
...........
1,368,547
1,000,000
City
of
Houston
TX
Airport
System
Revenue
Refunding
Revenue
Bonds,
Sub-Series
A,
5.00%,
07/01/27
...........
1,113,737
1,000,000
City
of
Houston
TX
Airport
System
Revenue
Refunding
Revenue
Bonds,
Sub-Series
A,
5.00%,
07/01/29
...........
1,133,791
1,000,000
City
of
Houston
TX
Airport
System
Revenue
Refunding
Revenue
Bonds,
Sub-Series
A,
5.00%,
07/01/33
...........
1,131,256
2,460,000
City
of
Houston
TX
Airport
System
Revenue
Refunding
Revenue
Bonds,
Sub-Series
B,
5.00%,
07/01/27
...........
2,785,992
Old
Westbury
Funds,
Inc.
Municipal
Bond
Fund
Portfolio
of
Investments
-
(Continued)
22
July
31,
2022
(Unaudited)
Principal
Amount
Value
Texas
(continued)
$
3,000,000
City
of
Houston
TX
Airport
System
Revenue
Refunding
Revenue
Bonds,
Sub-Series
B,
5.00%,
07/01/28
...........
$
3,447,392
5,500,000
City
of
Houston
TX
Airport
System
Revenue
Refunding
Revenue
Bonds,
Sub-Series
C,
1.05%,
07/01/23
...........
5,385,776
2,360,000
City
of
McKinney
Waterworks
&
Sewer
System
Revenue
Sewer
Improvements
Refunding
Revenue
Bonds,
5.00%,
03/15/26
...........
2,611,582
1,815,000
City
of
Plano
Advance
Refunding
GO,
5.00%,
09/01/23
...........
1,882,145
1,180,000
City
of
Plano
Waterworks
&
Sewer
System
Water
Utility
Improvement
Revenue
Bonds,
5.00%,
05/01/26
...........
1,314,234
1,000,000
Clear
Creek
Independent
School
District
Improvements
GO,
(PSF-GTD),
5.00%,
02/15/25
...........
1,081,515
1,195,000
Connally
Independent
School
District
Refunding
GO,
(PSF-GTD),
5.00%,
08/15/25
...........
1,304,925
1,500,000
Conroe
Independent
School
District
Current
Refunding
GO,
Series
A,
(PSF-GTD),
5.00%,
02/15/24
...........
1,577,718
2,000,000
Conroe
Independent
School
District
Current
Refunding
GO,
Series
A,
(PSF-GTD),
5.00%,
02/15/25
...........
2,164,587
10,000,000
Conroe
Independent
School
District
Current
Refunding
GO,
Series
A,
(PSF-GTD),
5.00%,
02/15/28
...........
11,597,835
2,130,000
County
of
Bexar
Advance
Refunding
GO,
5.00%,
06/15/26
...........
2,321,796
7,500,000
County
of
Bexar
Advance
Refunding
GO,
5.00%,
06/15/29(a)
.........
8,396,422
3,000,000
County
of
Bexar
Tax
Public
Improvements
GO,
Series
B,
5.00%,
06/15/43(a)
.........
3,091,133
1,500,000
County
of
Denton
Advance
Refunding
GO,
5.00%,
07/15/24
...........
1,595,105
Principal
Amount
Value
Texas
(continued)
$
1,485,000
County
of
Harris
Current
Refunding
GO,
Series
A,
5.00%,
10/01/24
...........
$
1,588,867
2,000,000
County
of
Harris
Current
Refunding
GO,
Series
A,
5.00%,
10/01/26
...........
2,253,267
1,850,000
County
of
Williamson
Limited
Tax
Advance
Refunding
GO,
5.00%,
02/15/24
...........
1,945,563
1,000,000
County
of
Williamson
Public
Improvements
GO,
5.00%,
02/15/25
...........
1,080,996
7,715,000
Denton
Independent
School
District
Advance
Refunding
GO,
(PSF-GTD),
5.00%,
08/15/26(a)
.........
8,304,648
2,500,000
Denton
Independent
School
District
Advance
Refunding
GO,
(PSF-GTD),
5.00%,
08/15/29
...........
2,756,548
1,085,000
Denver
City
Independent
School
District
School
Building
GO,
Series
A,
(PSF-GTD),
5.00%,
02/15/25
...........
1,170,072
2,780,000
Eagle
Mountain
&
Saginaw
Independent
School
District
Current
Refunding
GO,
(PSF-GTD),
5.00%,
08/15/24
...........
2,967,219
1,835,000
Eagle
Mountain
&
Saginaw
Independent
School
District
Refunding
GO,
(PSF-GTD),
5.00%,
08/15/27
...........
2,029,266
1,500,000
El
Paso
Independent
School
District
Refunding
GO,
(PSF-GTD),
5.00%,
08/15/25
...........
1,601,330
3,000,000
Fort
Bend
Independent
School
District
Refunding
GO,
Series
A,
(PSF-GTD),
5.00%,
08/15/23
...........
3,107,908
1,400,000
Fort
Bend
Independent
School
District
Refunding
GO,
Series
A,
(PSF-GTD),
5.00%,
08/15/24
...........
1,492,828
2,000,000
Fort
Bend
Independent
School
District
Refunding
GO,
Series
A,
(PSF-GTD),
5.00%,
08/15/25
...........
2,191,427
Old
Westbury
Funds,
Inc.
Municipal
Bond
Fund
Portfolio
of
Investments
-
(Continued)
23
July
31,
2022
(Unaudited)
Principal
Amount
Value
Texas
(continued)
$
1,150,000
Fort
Bend
Independent
School
District
Refunding
GO,
Series
A,
(PSF-GTD),
5.00%,
08/15/32
...........
$
1,385,967
5,000,000
Fort
Worth
Independent
School
District
School
Improvements
GO,
Series
A,
(PSF-GTD),
5.00%,
02/15/28
...........
5,793,226
1,395,000
Frenship
Independent
School
District
Refunding
GO,
(PSF-GTD),
5.00%,
02/15/26(a)
.........
1,464,783
1,285,000
Goose
Creek
Consolidated
Independent
School
District
Current
Refunding
GO,
Series
A,
(PSF-GTD),
5.00%,
02/15/25
...........
1,388,747
8,000,000
Grand
Parkway
Transportation
Corp.
Highway
Improvements
Revenue
Bonds,
Series
A,
5.50%,
04/01/53(a)
.........
8,364,406
1,990,000
Harlandale
Independent
School
District
Current
Refunding
GO,
Series
A,
(PSF-GTD),
5.00%,
02/15/24
...........
2,089,996
5,000,000
Harris
County
Flood
Control
District
Refunding
Revenue
Bonds,
Series
A,
5.00%,
10/01/23
...........
5,200,810
1,970,000
Harris
County
Toll
Road
Authority
Bridges
Revenue
Bonds,
5.00%,
08/15/28
...........
2,297,744
2,150,000
Harris
County
Toll
Road
Authority
Bridges
Revenue
Bonds,
5.00%,
08/15/30
...........
2,568,220
2,455,000
Irving
Independent
School
District
Advance
Refunding
GO,
(PSF-GTD),
5.00%,
02/15/24
...........
2,582,967
10,000,000
Lone
Star
College
System
Advance
Refunding
GO,
5.00%,
02/15/29
...........
11,008,199
1,860,000
Longview
Independent
School
District
Advance
Refunding
GO,
(PSF-GTD),
5.00%,
02/15/23
...........
1,895,561
1,050,000
Longview
Independent
School
District
Current
Refunding
GO,
(PSF-GTD),
5.00%,
02/15/23
...........
1,070,075
Principal
Amount
Value
Texas
(continued)
$
3,410,000
Manor
Independent
School
District
Advance
Refunding
GO,
(PSF-GTD),
5.00%,
08/01/24
...........
$
3,627,926
1,060,000
Mesquite
Independent
School
District
Advance
Refunding
GO,
Series
A,
(PSF-GTD),
5.00%,
08/15/24
...........
1,129,404
1,435,000
Mesquite
Independent
School
District
Advance
Refunding
GO,
Series
B,
(PSF-GTD),
5.00%,
08/15/23
...........
1,486,918
1,170,000
Mesquite
Independent
School
District
Current
Refunding
GO,
Series
A,
(PSF-GTD),
5.00%,
08/15/25
...........
1,279,803
500,000
Mesquite
Independent
School
District
School
Improvements
GO,
Series
C,
(PSF-GTD),
5.00%,
08/15/22
...........
500,668
1,765,000
North
Texas
Municipal
Water
District
Water
System
Revenue
Current
Refunding
Revenue
Bonds,
5.00%,
09/01/26
...........
1,987,482
3,000,000
Northwest
Independent
School
District
Refunding
GO,
Series
B,
(PSF-GTD),
5.00%,
02/15/23
...........
3,057,357
2,525,000
Northwest
Independent
School
District
Refunding
GO,
Series
B,
(PSF-GTD),
5.00%,
02/15/25
...........
2,726,898
1,145,000
Palestine
Independent
School
District
Advance
Refunding
GO,
(PSF-GTD),
5.00%,
02/15/23
...........
1,165,836
1,220,000
Palestine
Independent
School
District
Advance
Refunding
GO,
(PSF-GTD),
5.00%,
02/15/28
...........
1,343,000
1,000,000
Pecos
Barstow
Toyah
Independent
School
District
Advance
Refunding
GO,
(PSF-GTD),
5.00%,
02/15/23
...........
1,018,736
19,045,000
Permanent
University
Fund
-
Texas
A&M
University
System
Refunding
Revenue
Bonds,
5.50%,
07/01/28
...........
21,267,957
Old
Westbury
Funds,
Inc.
Municipal
Bond
Fund
Portfolio
of
Investments
-
(Continued)
24
July
31,
2022
(Unaudited)
Principal
Amount
Value
Texas
(continued)
$
1,525,000
Plano
Independent
School
District
School
Improvement
GO,
(PSF-GTD),
5.00%,
02/15/23
...........
$
1,553,991
1,050,000
Point
Isabel
Independent
School
District
Current
Refunding
GO,
(PSF-GTD),
5.00%,
02/01/25
...........
1,133,063
1,995,000
Port
Arthur
Independent
School
District
Advance
Refunding
GO,
Series
B,
(PSF-GTD),
5.00%,
02/15/25
...........
2,156,070
1,000,000
Port
Authority
of
Houston
of
Harris
County
Texas
Revenue
Bonds,
5.00%,
10/01/29
...........
1,180,577
1,000,000
Port
Authority
of
Houston
of
Harris
County
Texas
Revenue
Bonds,
5.00%,
10/01/30
...........
1,194,839
2,500,000
Port
Authority
of
Houston
of
Harris
County
Texas
Revenue
Bonds,
5.00%,
10/01/33
...........
2,996,935
1,375,000
Port
Authority
of
Houston
of
Harris
County
Texas
Revenue
Bonds,
4.00%,
10/01/35
...........
1,432,888
1,000,000
Port
Authority
of
Houston
of
Harris
County
Texas
Revenue
Bonds,
4.00%,
10/01/36
...........
1,037,699
1,000,000
Prosper
Independent
School
District
School
Building
School
Improvement
GO,
(PSF-GTD),
5.00%,
02/15/25
...........
1,081,255
925,000
Roma
Independent
School
District
Current
Refunding
GO,
(PSF-GTD),
5.00%,
08/15/22
...........
926,188
1,020,000
Roma
Independent
School
District
Current
Refunding
GO,
(PSF-GTD),
5.00%,
08/15/23
...........
1,054,867
1,075,000
Roma
Independent
School
District
Current
Refunding
GO,
(PSF-GTD),
5.00%,
08/15/24
...........
1,144,494
1,000,000
Roma
Independent
School
District
Current
Refunding
GO,
(PSF-GTD),
5.00%,
08/15/25
...........
1,092,298
1,330,000
San
Antonio
Independent
School
District
School
Improvements
GO,
(PSF-GTD),
5.00%,
08/15/23
...........
1,377,000
Principal
Amount
Value
Texas
(continued)
$
1,000,000
Socorro
Independent
School
District
Current
Refunding
GO,
Series
B,
(PSF-GTD),
5.00%,
08/15/25
...........
$
1,078,407
7,180,000
Spring
Independent
School
District
Advance
Refunding
GO,
Series
A,
5.00%,
08/15/28
...........
7,965,500
2,500,000
State
of
Texas
Current
Refunding
GO,
Series
B,
5.00%,
08/01/24
...........
2,664,860
5,000,000
State
of
Texas
Current
Refunding
GO,
Series
B,
5.00%,
08/01/25
...........
5,479,161
2,300,000
State
of
Texas
Highway
Improvements
GO,
5.00%,
04/01/27
...........
2,558,202
3,720,000
State
of
Texas
Highway
Improvements
Revenue
Bonds
GO,
5.00%,
04/01/44(a)
.........
3,923,099
5,000,000
State
of
Texas
Public
Finance
Authority
Advance
Refunding
GO,
5.00%,
10/01/26
...........
5,641,740
5,000,000
State
of
Texas
Public
Finance
Authority
Advance
Refunding
GO,
2.18%,
10/01/27
...........
4,763,862
3,200,000
State
of
Texas
Transportation
Commission
Advance
Refunding
GO,
Series
A,
5.00%,
10/01/25
...........
3,522,106
5,000,000
State
of
Texas
Transportation
Commission
Advance
Refunding
GO,
Series
A,
5.00%,
10/01/28
...........
5,467,684
6,500,000
State
of
Texas
Transportation
Commission
Highway
Improvement
GO,
5.00%,
04/01/25
...........
7,059,518
3,500,000
State
of
Texas
Transportation
Commission
Refunding
GO,
Series
A,
5.00%,
10/01/22
...........
3,520,888
1,000,000
State
of
Texas,
Water
Financial
Assistance
Refunding
GO,
Subseries
B-2,
5.00%,
08/01/28
...........
1,060,863
1,000,000
Sulphur
Springs
Independent
School
District
Advance
Refunding
GO,
(PSF-
GTD),
5.00%,
08/15/26
...........
1,120,676
Old
Westbury
Funds,
Inc.
Municipal
Bond
Fund
Portfolio
of
Investments
-
(Continued)
25
July
31,
2022
(Unaudited)
Principal
Amount
Value
Texas
(continued)
$
1,250,000
Texas
A&M
University
University
&
College
Improvements
Revenue
Bonds,
Series
A,
0.59%,
05/15/24
...........
$
1,194,576
1,000,000
Texas
State
University
System
University
&
College
Improvements
Revenue
Bonds,
Series
A,
5.00%,
03/15/24
...........
1,054,737
1,000,000
Texas
Transportation
Commission
State
Highway
Fund
First
Tier
Advance
Refunding
Revenue
Bonds,
5.00%,
10/01/22
...........
1,005,817
5,785,000
Texas
Transportation
Commission
State
Highway
Fund
First
Tier
Advance
Refunding
Revenue
Bonds,
5.00%,
10/01/24
...........
6,201,142
4,250,000
Texas
Transportation
Commission
State
Highway
Fund
Highway
Improvements
Revenue
Bonds
Series
A,
5.00%,
10/01/26
...........
4,795,479
1,100,000
Texas
Water
Development
Board
Water
Utility
Improvements
Revenue
Bonds,
5.00%,
08/01/27
...........
1,264,182
1,250,000
Texas
Water
Development
Board
Water
Utility
Improvements
Revenue
Bonds,
5.00%,
08/01/28
...........
1,460,060
2,300,000
Texas
Water
Development
Board
Water
Utility
Improvements
Revenue
Bonds,
5.00%,
08/01/30
...........
2,770,236
1,750,000
Texas
Water
Development
Board
Water
Utility
Improvements
Revenue
Bonds,
5.00%,
08/01/31
...........
2,127,606
5,000,000
Texas
Water
Development
Board
Water
Utility
Improvements
Revenue
Bonds,
5.00%,
08/01/24
...........
5,332,779
6,665,000
Texas
Water
Development
Board
Water
Utility
Improvements
Revenue
Bonds,
5.00%,
08/01/25
...........
7,307,823
Principal
Amount
Value
Texas
(continued)
$
5,000,000
Texas
Water
Development
Board
Water
Utility
Improvements
Revenue
Bonds,
5.00%,
08/01/26
...........
$
5,618,750
1,500,000
Texas
Water
Development
Board
Water
Utility
Improvements
Revenue
Bonds,
5.00%,
08/01/27
...........
1,723,884
4,050,000
Texas
Water
Development
Board
Water
Utility
Improvements
Revenue
Bonds,
5.00%,
08/01/29
...........
4,807,392
1,250,000
Texas
Water
Development
Board
Water
Utility
Improvements
Revenue
Bonds,
Series
A,
5.00%,
10/15/23
...........
1,302,550
1,000,000
Trinity
River
Authority
Central
Regional
Wastewater
System
Advance
Refunding
Revenue
Bonds,
5.00%,
08/01/24
...........
1,065,536
1,000,000
Trinity
River
Authority
Central
Regional
Wastewater
System
Revenue
Sewer
Improvements
Revenue
Bonds,
Series
RE,
5.00%,
08/01/25
...........
1,094,603
1,050,000
Trinity
River
Authority
Central
Regional
Wastewater
System
Revenue
Sewer
Improvements
Revenue
Bonds,
Series
RE,
5.00%,
08/01/30
...........
1,257,863
1,000,000
Trinity
River
Authority
Central
Regional
Wastewater
System
Revenue
Sewer
Improvements
Revenue
Bonds,
Series
RE,
5.00%,
08/01/32
...........
1,222,790
1,680,000
United
Independent
School
District
GO,
(PSF-GTD),
5.00%,
08/15/23
...........
1,739,722
2,085,000
United
Independent
School
District
GO,
(PSF-GTD),
5.00%,
08/15/25
...........
2,286,510
2,000,000
University
of
Houston
University
&
College
Improvements
Revenue
Bonds,
Series
A,
5.00%,
02/15/34
...........
2,357,705
3,750,000
University
of
Houston
University
&
College
Improvements
Revenue
Bonds,
Series
A,
5.00%,
02/15/35
...........
4,398,302
Old
Westbury
Funds,
Inc.
Municipal
Bond
Fund
Portfolio
of
Investments
-
(Continued)
26
July
31,
2022
(Unaudited)
Principal
Amount
Value
Texas
(continued)
$
5,500,000
University
of
Houston
University
&
College
Improvements
Revenue
Bonds,
Series
A,
5.00%,
02/15/38
...........
$
6,360,995
1,210,000
Wichita
Falls
Independent
School
District
School
Improvements
GO,
Series
A,
(PSF-GTD),
5.00%,
02/01/23
...........
1,231,221
405,332,512
Utah
—
0.8%
10,000,000
City
of
Salt
Lake
City
UT
Airport
Revenue
Airport
&
Marina
Improvements
Revenue
Bonds,
Series
A,
5.00%,
07/01/33
...........
11,445,534
1,255,000
City
of
Salt
Lake
City
UT
Airport
Revenue
Airport
&
Marina
Improvements
Revenue
Bonds,
Series
A,
5.00%,
07/01/25
...........
1,350,674
2,500,000
City
of
Salt
Lake
City
UT
Airport
Revenue
Airport
&
Marina
Improvements
Revenue
Bonds,
Series
A,
5.00%,
07/01/28
...........
2,812,433
10,000,000
State
of
Utah
Highway
Improvements
Revenue
Bonds
GO,
5.00%,
07/01/26
...........
11,226,597
2,300,000
University
of
Utah
Revenue
Bonds,
Series
B,
5.00%,
08/01/30
...........
2,749,749
1,800,000
University
of
Utah
Revenue
Bonds,
Series
B,
5.00%,
08/01/31
...........
2,178,641
1,300,000
University
of
Utah
Revenue
Bonds,
Series
B,
5.00%,
08/01/32
...........
1,589,627
33,353,255
Virginia
—
4.7%
7,800,000
City
of
Harrisonburg
GO,
Series
A,
(State
Aid
Withholding),
5.00%,
07/15/27
...........
8,899,641
7,615,000
City
of
Harrisonburg
GO,
Series
A,
(State
Aid
Withholding),
5.00%,
07/15/29
...........
8,962,643
3,045,000
City
of
Newport
News
Public
Improvements
GO,
Series
A,
(State
Aid
Withholding),
5.00%,
02/01/27
...........
3,462,233
Principal
Amount
Value
Virginia
(continued)
$
7,430,000
Commonwealth
of
Virginia
Advance
Refunding
GO,
Series
B,
(State
Aid
Withholding),
5.00%,
06/01/28
...........
$
8,073,649
5,000,000
County
of
Fairfax
School
Improvements
GO,
Series
A,
(State
Aid
Withholding),
5.00%,
10/01/27
...........
5,697,165
7,965,000
County
of
Fairfax
School
Improvements
GO,
Series
A,
(State
Aid
Withholding),
5.00%,
10/01/29
...........
9,017,864
7,530,000
County
of
Loudoun
Public
Facilities
GO,
Series
A,
(State
Aid
Withholding),
5.00%,
12/01/26
...........
8,537,662
6,880,000
Hampton
Roads
Sanitation
District
Refunding
Revenue
Bonds,
Sub-
Series
B,
1.44%,
08/01/46(b)
.........
6,880,000
3,000,000
Hampton
Roads
Transportation
Accountability
Commission
Highway
Improvements
Revenue
Bonds,
Series
A,
5.00%,
07/01/35
...........
3,580,897
15,000,000
Hampton
Roads
Transportation
Accountability
Commission
Revenue
Bonds,
Series
A,
5.00%,
07/01/26
...........
16,731,391
1,170,000
Prince
William
County
Industrial
Development
Authority
Public
Improvements
Refunding
Revenue
Bonds,
Series
A,
5.00%,
10/01/24
...........
1,251,576
5,725,000
Virginia
College
Building
Authority
University
&
College
Improvements
Revenue
Bonds,
5.00%,
02/01/27
...........
6,504,148
5,000,000
Virginia
College
Building
Authority
University
&
College
Improvements
Revenue
Bonds,
5.00%,
02/01/28
...........
5,772,930
6,540,000
Virginia
College
Building
Authority
University
&
College
Improvements
Revenue
Bonds,
5.00%,
02/01/29
...........
7,674,897
6,530,000
Virginia
College
Building
Authority
University
&
College
Improvements
Revenue
Bonds,
5.00%,
02/01/30
...........
7,790,024
Old
Westbury
Funds,
Inc.
Municipal
Bond
Fund
Portfolio
of
Investments
-
(Continued)
27
July
31,
2022
(Unaudited)
Principal
Amount
Value
Virginia
(continued)
$
3,375,000
Virginia
College
Building
Authority
University
&
College
Improvements
Revenue
Bonds,
5.00%,
02/01/31
...........
$
4,081,041
2,000,000
Virginia
College
Building
Authority
University
&
College
Improvements
Revenue
Bonds,
5.00%,
02/01/32
...........
2,448,874
5,000,000
Virginia
College
Building
Authority
University
&
College
Improvements
Revenue
Bonds,
5.00%,
02/01/38
...........
5,897,234
10,000,000
Virginia
College
Building
Authority
University
&
College
Improvements
Revenue
Bonds,
5.00%,
02/01/39
...........
11,763,290
5,375,000
Virginia
Commonwealth
Transportation
Board
Advance
Refunding
Revenue
Bonds,
Series
A,
5.00%,
05/15/28
...........
6,194,579
2,510,000
Virginia
Commonwealth
Transportation
Board
Transit
Improvements
Revenue
Bonds,
5.00%,
03/15/23
...........
2,563,419
5,000,000
Virginia
Commonwealth
Transportation
Board
Transit
Improvements
Revenue
Bonds,
5.00%,
05/15/27
...........
5,581,775
8,000,000
Virginia
Public
Building
Authority
Public
Facilities
Revenue
Bonds,
Series
A,
Group
1,
5.00%,
08/01/24
...........
8,527,552
4,450,000
Virginia
Public
School
Authority
Advance
Refunding
Revenue
Bonds,
5.00%,
08/01/24
...........
4,745,266
9,000,000
Virginia
Public
School
Authority
Current
Refunding
Revenue
Bonds,
Series
B,
5.00%,
08/01/23
...........
9,312,182
2,790,000
Virginia
Public
School
Authority
School
Improvement
Revenue
Bonds,
Series
A,
(State
Aid
Withholding),
5.00%,
10/01/23
...........
2,902,713
2,280,000
Virginia
Public
School
Authority
School
Improvements
Revenue
Bonds,
Series
2022,
(State
Aid
Withholding),
5.00%,
02/01/27
...........
2,589,243
Principal
Amount
Value
Virginia
(continued)
$
3,325,000
Virginia
Public
School
Authority
School
Improvements
Revenue
Bonds,
Series
2022,
(State
Aid
Withholding),
5.00%,
02/01/28
...........
$
3,852,130
3,410,000
Virginia
Public
School
Authority
School
Improvements
Revenue
Bonds,
Series
2022,
(State
Aid
Withholding),
5.00%,
02/01/29
...........
4,015,328
4,230,000
Virginia
Public
School
Authority
School
Improvements
Revenue
Bonds,
Series
2022,
(State
Aid
Withholding),
5.00%,
02/01/30
...........
5,062,368
2,000,000
Virginia
Resources
Authority
Advance
Refunding
Revenue,
5.00%,
11/01/26
...........
2,262,155
190,635,869
Washington
—
5.8%
3,000,000
Central
Puget
Sound
Regional
Transit
Authority
Current
Refunding
Revenue
Bonds,
Series
S-1,
5.00%,
11/01/23
...........
3,128,241
5,000,000
Central
Puget
Sound
Regional
Transit
Authority
Current
Refunding
Revenue
Bonds,
Series
S-1,
5.00%,
11/01/24
...........
5,369,088
5,000,000
Central
Puget
Sound
Regional
Transit
Authority
Current
Refunding
Revenue
Bonds,
Series
S-1,
5.00%,
11/01/25
...........
5,516,968
10,000,000
Central
Puget
Sound
Regional
Transit
Authority
Current
Refunding
Revenue
Bonds,
Series
S-1,
5.00%,
11/01/30
...........
12,102,529
10,000,000
Central
Puget
Sound
Regional
Transit
Authority
Current
Refunding
Revenue
Bonds,
Series
S-1,
5.00%,
11/01/31
...........
12,261,743
1,050,000
Chelan
County
School
District
No
228
Cascade
School
Improvements
GO,
(School
Board
GTY),
5.00%,
12/01/26
...........
1,171,386
1,600,000
Clark
County
Public
Utility
District
No
1
Refunding
Revenue
Bonds,
5.00%,
01/01/27
...........
1,761,362
1,035,000
County
of
King
Refunding
GO,
5.00%,
07/01/25
...........
1,114,655
Old
Westbury
Funds,
Inc.
Municipal
Bond
Fund
Portfolio
of
Investments
-
(Continued)
28
July
31,
2022
(Unaudited)
Principal
Amount
Value
Washington
(continued)
$
5,395,000
County
of
King
Refunding
GO,
5.00%,
07/01/26
...........
$
5,804,616
9,000,000
County
of
King
School
District
No
411
Issaquah
School
Improvement
GO,
(School
Board
GTY),
5.00%,
12/01/32
...........
10,188,288
10,000,000
County
of
King
Sewer
Improvements
GO,
Series
A,
5.00%,
01/01/30
...........
11,922,669
8,000,000
County
of
King
WA
Sewer
Revenue
Sewer
Improvement
Revenue
Bonds,
Series
B,
5.00%,
07/01/29
...........
9,267,578
10,000,000
Energy
Northwest
Advance
Refunding
Revenue
Bonds,
Series
A,
5.00%,
07/01/27
...........
11,170,288
2,250,000
Energy
Northwest
Current
Refunding
Revenue
Bonds,
Series
A,
5.00%,
07/01/26
...........
2,516,927
5,000,000
Port
of
Seattle
Airport
&
Marina
Improvements
Refunding
Revenue
Bonds,
Series
C,
5.00%,
08/01/27
...........
5,559,313
5,000,000
Port
of
Seattle
Airport
&
Marina
Improvements
Refunding
Revenue
Bonds,
Series
C,
5.00%,
08/01/29
...........
5,680,629
5,000,000
Port
of
Seattle
Airport
&
Marina
Improvements
Refunding
Revenue
Bonds,
Series
C,
5.00%,
08/01/30
...........
5,733,823
5,000,000
Port
of
Seattle
Airport
&
Marina
Improvements
Refunding
Revenue
Bonds,
Series
C,
5.00%,
08/01/32
...........
5,731,954
6,885,000
Port
of
Seattle
Current
Refunding
Revenue
Bonds,
5.00%,
09/01/25
...........
7,451,384
5,000,000
Port
of
Seattle
Refunding
GO,
5.00%,
06/01/24
...........
5,306,336
1,120,000
Skagit
County
Consolidated
School
District
No
320
Mount
Vernon
School
Improvements
Refunding
GO,
(School
Board
GTY),
5.00%,
12/01/23
...........
1,170,279
5,000,000
Snohomish
County
School
District
No
201
Refunding
GO,
(School
Board
GTY),
5.00%,
12/01/25
...........
5,288,617
Principal
Amount
Value
Washington
(continued)
$
1,000,000
State
of
Washington
Advance
Refunding
COP,
(State
Aid
Intercept
Program),
5.00%,
07/01/24
...........
$
1,061,863
2,410,000
State
of
Washington
Current
Refunding
GO,
Series
R-2020C,
5.00%,
07/01/25
...........
2,636,549
10,000,000
State
of
Washington
Current
Refunding
GO,
Series
R-2022C,
Group
1,
5.00%,
07/01/23
...........
10,318,968
10,000,000
State
of
Washington
Current
Refunding
GO,
Series
R-2022C,
Group
1,
5.00%,
07/01/24
...........
10,642,058
10,000,000
State
of
Washington
Current
Refunding
GO,
Series
R-2022C,
Group
1,
5.00%,
07/01/25
...........
10,940,036
10,000,000
State
of
Washington
Current
Refunding
GO,
Series
R-2022C,
Group
1,
4.00%,
07/01/26
...........
10,830,141
10,000,000
State
of
Washington
Current
Refunding
GO,
Series
R-2022D,
Group
1,
5.00%,
07/01/23
...........
10,318,968
10,000,000
State
of
Washington
Current
Refunding
GO,
Series
R-2022D,
Group
1,
5.00%,
07/01/24
...........
10,642,058
10,000,000
State
of
Washington
Current
Refunding
GO,
Series
R-2022D,
Group
1,
5.00%,
07/01/25
...........
10,940,036
5,475,000
State
of
Washington
Public
Improvements
GO,
Series
C,
5.00%,
02/01/30
...........
5,878,888
2,760,000
State
of
Washington
Public
Improvements
GO,
Series
D,
5.00%,
02/01/24
...........
2,900,514
8,975,000
State
of
Washington
School
Improvements
GO,
Series
C,
5.00%,
02/01/44
...........
10,262,970
4,435,000
Yakima
County
School
District
No
7
Yakima
Advance
Refunding
GO,
(School
Board
GTY),
5.00%,
12/01/24
...........
4,756,750
237,348,472
Old
Westbury
Funds,
Inc.
Municipal
Bond
Fund
Portfolio
of
Investments
-
(Continued)
29
July
31,
2022
(Unaudited)
Principal
Amount
Value
West
Virginia
—
0.0%
$
1,650,000
West
Virginia
Parkways
Authority
Highway
Improvements
Revenue
Bonds,
5.00%,
06/01/26
...........
$
1,840,101
Wisconsin
—
1.2%
4,700,000
State
of
Wisconsin
Clean
Water
Fund
Leveraged
Loan
Portfolio
Advance
Refunding
Revenue
Bonds,
5.00%,
06/01/29(a)
.........
4,966,930
1,000,000
State
of
Wisconsin
Clean
Water
Fund
Leveraged
Loan
Portfolio
Advance
Refunding
Revenue
Bonds,
Series
1,
5.00%,
06/01/23
...........
1,028,434
10,000,000
State
of
Wisconsin
Current
Refunding
Revenue
Bonds,
Series
A,
5.00%,
05/01/29
...........
11,294,466
1,200,000
State
of
Wisconsin
General
Fund
Advance
Refunding
Revenue
Bonds,
Series
B,
5.00%,
05/01/27
...........
1,330,529
1,900,000
State
of
Wisconsin
Refunding
Bonds
GO,
Series
3,
5.00%,
11/01/25(a)
.........
1,916,931
1,000,000
State
of
Wisconsin
Refunding
GO,
Series
1,
5.00%,
05/01/24
...........
1,026,081
8,000,000
State
of
Wisconsin
University
&
College
Improvements
GO,
Series
A,
5.00%,
05/01/32
...........
9,628,310
6,000,000
Wisconsin
Department
of
Transportation
Advance
Refunding
Revenue
Bonds,
Series
1,
1.01%,
07/01/26
...........
5,549,321
7,250,000
Wisconsin
Health
&
Educational
Facilities
Authority
Advance
Refunding
Revenue
Bonds,
5.00%,
08/15/54(b)
.........
7,983,149
2,250,000
Wisconsin
Health
&
Educational
Facilities
Authority
Refunding
Revenue
Bonds,
Series
A,
5.13%,
04/15/31(a)
.........
2,306,602
47,030,753
Total
Municipal
Bonds
(Cost
$3,747,627,661)
3,681,155,965
Principal
Amount
Value
CORPORATE
BONDS
—
0.8%
United
States
—
0.8%
$
1,675,000
Andrew
W
Mellon
Foundation
(The),
Series
2020,
0.95%,
08/01/27
...........
$
1,493,480
3,000,000
BayCare
Health
System,
Inc.,
Series
2020,
2.61%,
11/15/22
...........
2,988,584
5,000,000
Baylor
Scott
&
White
Holdings,
Series
2021,
0.83%,
11/15/25
...........
4,610,461
1,750,000
Bon
Secours
Mercy
Health,
Inc.,
1.35%,
06/01/25
...........
1,645,939
8,000,000
Brown
University
in
Providence
in
the
State
of
Rhode
Island
and
Providence
Plant,
Series
A,
1.91%,
09/01/30
...........
7,105,862
5,000,000
Leland
Stanford
Junior
University,
1.29%,
06/01/27
...........
4,567,228
10,000,000
Yale
University,
Series
2020,
0.87%,
04/15/25
...........
9,448,736
Total
Corporate
Bonds
(Cost
$34,462,895)
31,860,290
U.S.
GOVERNMENT
SECURITIES
—
4.7%
U.S.
Treasury
Bills
—
2.4%
100,000,000
1.05%,
09/29/22(d)
............
99,643,542
U.S.
Treasury
Notes
—
2.3%
100,000,000
1.88%,
02/15/32
...............
93,546,875
Total
U.S.
Government
Securities
(Cost
$187,941,326)
193,190,417
Shares
INVESTMENT
COMPANY
—
3.6%
147,036,848
SEI
Daily
Income
Trust
Government
II
Fund
-
Class
A,
1.37%(e)
...
147,036,848
Total
Investment
Company
(Cost
$147,036,848)
147,036,848
TOTAL
INVESTMENTS
—
99.5%
(Cost
$4,117,068,730)
$
4,053,243,520
OTHER
ASSETS
IN
EXCESS
OF
LIABILITIES
—
0.5%
21,281,652
NET
ASSETS
—
100.0%
$
4,074,525,172
Old
Westbury
Funds,
Inc.
Municipal
Bond
Fund
Portfolio
of
Investments
-
(Continued)
30
July
31,
2022
(Unaudited)
The
following
abbreviations
are
used
in
the
report:
(a)
These
securities
are
pre-refunded;
the
date
shown
represents
the
pre-
refunded
date.
Bonds
which
are
pre-refunded
are
collateralized
by
U.S.
Government
securities
which
are
held
in
escrow
and
are
used
to
pay
principal
and
interest
on
the
municipal
issue
and
to
retire
the
bonds
in
full
at
the
earliest
refunding
date.
(b)
Variable
or
floating
rate
security,
which
interest
rate
adjusts
periodically
based
on
changes
in
current
interest
rates
and
prepayments
on
the
underlying
pool
of
assets.
Rate
shown
is
the
rate
in
effect
as
of
July
31,
2022.
(c)
These
securities
are
subject
to
remarketing
prior
to
its
stated
maturity,
and
is
subject
to
mandatory
redemption
at
the
stated
maturity
date.
(d)
Zero
coupon
security.
The
rate
represents
the
yield
at
time
of
purchase.
(e)
The
rate
shown
represents
the
current
yield
as
of
July
31,
2022.
AGM
—
Assured
Guaranty
Municipal
Corp.
COP
—
Certificates
of
Participation
GO
—
General
Obligation
GTY
—
Guaranty
PSF-GTD
—
Permanent
School
Fund
Guarantee
Portfolio
Diversification
by
State
(Unaudited)
State:
Percentage
of
Net
Assets
Alabama
....................................
0.6
%
Arizona
.....................................
0.8
Arkansas
....................................
0.2
California
...................................
5.0
Colorado
....................................
1.4
Connecticut
.................................
1.7
Delaware
....................................
1.7
District
of
Columbia
...........................
2.3
Florida
.....................................
2.2
Georgia
.....................................
3.7
Hawaii
.....................................
3.5
Illinois
.....................................
0.1
Indiana
.....................................
0.4
Iowa
.......................................
1.1
Kansas
.....................................
0.0
*
Maine
......................................
0.1
Maryland
...................................
8.5
Massachusetts
................................
4.4
Michigan
...................................
0.3
Minnesota
...................................
2.2
Mississippi
..................................
0.3
New
Hampshire
..............................
0.1
New
Jersey
..................................
4.0
New
Mexico
.................................
0.3
New
York
...................................
13.1
North
Carolina
...............................
2.4
Ohio
.......................................
2.9
Oklahoma
...................................
0.5
Oregon
.....................................
0.9
Pennsylvania
.................................
2.0
Rhode
Island
.................................
0.2
South
Carolina
...............................
0.4
South
Dakota
................................
0.3
Tennessee
...................................
0.3
Texas
.......................................
10.0
Utah
.......................................
0.8
Virginia
....................................
4.7
Washington
..................................
5.8
West
Virginia
................................
0.0
*
Wisconsin
...................................
1.2
Other**
.....................................
9.6
100.0%
*
Represents
less
than
0.01%
of
net
assets.
**
Includes
cash
and
equivalents,
Corporate
Bonds,
U.S.
Government
Securities,
investment
company,
pending
trades
and
Fund
share
transactions,
interest
and
dividends
receivable,
prepaids
and
accrued
expenses
payable.