Old Westbury Funds NPORT-P Old Westbury Small & Mid Cap Strategies Fund (Jul 2023 report)

Old

Westbury

Funds,

Inc.

Small

&

Mid

Cap

Strategies

Fund

Portfolio

of

Investments

-

(Continued)

1

July

31,

2023

(Unaudited)

Old

Westbury

Funds,

Inc.

Small

&

Mid

Cap

Strategies

Fund

Portfolio

of

Investments

July

31,

2023

(Unaudited)

Shares

Value

COMMON

STOCKS

—

85.6%

AUSTRALIA

—

2.1%

716,155

Accent

Group

Ltd.

..............

$

849,038

474,741

Adbri

Ltd.

....................

794,020

198,247

AGL

Energy

Ltd.

...............

1,623,251

314,097

Alkane

Resources

Ltd.(a)

.........

148,740

338,672

Altium

Ltd.

...................

8,692,239

68,145

Ansell

Ltd.

...................

1,104,960

938,900

Aurizon

Holdings

Ltd.

...........

2,402,811

140,436

Base

Resources

Ltd.

.............

16,508

1,494,889

Boral

Ltd.(a)

..................

4,377,950

290,985

Brambles

Ltd.

.................

2,750,047

7,957

Brickworks

Ltd.

................

138,482

1,107

Cardno

Ltd.

..................

297

402,973

Cettire

Ltd.(a)

.................

803,911

988,487

Champion

Iron

Ltd.

............

3,970,521

77,689

Charter

Hall

Retail

REIT

.........

195,689

24,926

Clinuvel

Pharmaceuticals

Ltd.

.....

307,230

21,110

Cochlear

Ltd.

.................

3,391,474

448,280

Codan

Ltd.

...................

2,261,334

81,450

Computershare

Ltd.

............

1,372,126

1,270,699

CSR

Ltd.

....................

4,882,183

57,468

Data#3

Ltd.

..................

289,895

329,820

DDH1

Ltd.

..................

206,032

14,106

Enero

Group

Ltd.

..............

16,960

1,134,398

Evolution

Mining

Ltd.

...........

2,819,308

226,439

Fenix

Resources

Ltd.

............

45,630

100,929

FleetPartners

Group

Ltd.(a)

.......

174,231

11,142

Fleetwood

Ltd.(a)

..............

16,315

233,772

Gold

Road

Resources

Ltd.

........

247,314

652,151

GrainCorp

Ltd.

-

Class

A

.........

3,543,823

1,895,693

Grange

Resources

Ltd.

...........

687,602

291,855

Hansen

Technologies

Ltd.

........

1,027,244

1,147,340

Harvey

Norman

Holdings

Ltd.

....

2,913,126

991,106

Helia

Group

Ltd.

...............

2,583,016

58,961

Helloworld

Travel

Ltd.

...........

113,268

32,100

HUB24

Ltd.

..................

606,743

2,000,607

Iluka

Resources

Ltd.

............

13,733,715

618,455

Imdex

Ltd.

...................

814,216

4,379,171

Incitec

Pivot

Ltd.

...............

8,883,297

35,452

Integrated

Research

Ltd.(a)

.......

10,359

221,455

IPH

Ltd.

.....................

1,175,135

47,372

Judo

Capital

Holdings

Ltd.(a)

.....

43,434

21,819

Jumbo

Interactive

Ltd.

...........

225,113

943,225

Karoon

Energy

Ltd.(a)

...........

1,412,848

84,173

Lindsay

Australia

Ltd.

...........

76,328

1,033,952

Macmahon

Holdings

Ltd.

........

100,703

395,117

McMillan

Shakespeare

Ltd.

.......

5,252,268

1,215,225

Medibank

Pvt

Ltd.

.............

2,865,096

446,215

Metcash

Ltd.

..................

1,079,001

234,479

MMA

Offshore

Ltd.(a)

..........

205,537

166,605

Monadelphous

Group

Ltd.

.......

1,524,195

198,582

Monash

IVF

Group

Ltd.

.........

160,732

333,174

Myer

Holdings

Ltd.

.............

142,109

Shares

Value

AUSTRALIA

(continued)

786,243

Nanosonics

Ltd.(a)

.............

$

2,498,005

57,294

Navigator

Global

Investments

Ltd.

..

55,802

107,423

Neuren

Pharmaceuticals

Ltd.(a)

....

940,193

54,689

New

Energy

Solar

Ltd.(a)(b)

......

2,314

1,149,722

New

Hope

Corp.

Ltd.

...........

4,100,745

111,915

nib

holdings

Ltd.

...............

622,435

1,338,703

Nufarm

Ltd.

..................

4,828,741

70,959

Nuix

Ltd.(a)

..................

76,261

37,291

Objective

Corp.

Ltd.

............

331,139

47,610

OceanaGold

Corp.

.............

99,650

193,435

OFX

Group

Ltd.(a)

.............

272,854

325,448

oOh!media

Ltd.

................

304,952

4,664,553

Orora

Ltd.

...................

11,248,117

259,370

Perenti

Ltd.(a)

.................

208,192

4,856,461

Perseus

Mining

Ltd.

.............

5,659,717

293,465

Platinum

Asset

Management

Ltd.

...

312,436

193,808

Pro

Medicus

Ltd.

...............

8,955,140

41,045

REA

Group

Ltd.

...............

4,343,091

37,431

Regis

Healthcare

Ltd.

............

56,822

2,472,415

Regis

Resources

Ltd.(a)

..........

2,781,708

492,668

Resolute

Mining

Ltd.(a)

..........

119,133

169,133

Ridley

Corp.

Ltd.

..............

223,237

21,114

RPMGlobal

Holdings

Ltd.(a)

......

23,117

39,275

SEEK

Ltd.

...................

656,887

1,730,427

Sierra

Rutile

Holdings

Ltd.(a)

.....

255,712

468,064

Sigma

Healthcare

Ltd.

...........

246,803

1,428,570

Silver

Lake

Resources

Ltd.(a)

......

854,018

175,195

Sims

Ltd.

....................

1,776,945

763,890

South32

Ltd.

..................

1,990,847

166,234

SRG

Global

Ltd.

...............

83,186

356,151

Super

Retail

Group

Ltd.

..........

2,944,880

965,723

Technology

One

Ltd.

............

10,216,649

193,941

Telix

Pharmaceuticals

Ltd.(a)

......

1,470,750

1,905,072

Ventia

Services

Group

Pty

Ltd.

.....

3,710,947

29,050

Washington

H

Soul

Pattinson

&

Co.

Ltd.

.....................

642,950

772,988

Webjet

Ltd.(a)

.................

4,091,422

1,649,355

West

African

Resources

Ltd.(a)

.....

991,545

846,044

Westgold

Resources

Ltd.(a)

.......

940,516

1,721,494

Whitehaven

Coal

Ltd.

...........

8,001,786

180,017,048

AUSTRIA

—

0.3%

101,316

ANDRITZ

AG

................

5,353,737

4,724

DO

&

CO

AG

................

637,828

40,250

Erste

Group

Bank

AG

...........

1,521,483

353

EVN

AG

.....................

8,364

48,161

Kontron

AG

..................

1,047,940

6,979

Palfinger

AG

..................

204,496

8,563

Porr

AG

.....................

119,383

525,150

Raiffeisen

Bank

International

AG(a)

.

8,499,364

27,582

Rhi

Magnesita

NV

.............

1,057,673

Old

Westbury

Funds,

Inc.

Small

&

Mid

Cap

Strategies

Fund

Portfolio

of

Investments

-

(Continued)

2

July

31,

2023

(Unaudited)

Shares

Value

AUSTRIA

(continued)

38,428

Schoeller-Bleckmann

Oilfield

Equipment

AG

............

$

2,323,837

964

Semperit

AG

Holding

...........

21,569

4,167

Strabag

SE

....................

175,018

9,770

Vienna

Insurance

Group

AG

Wiener

Versicherung

Gruppe

........

261,033

210,814

Wienerberger

AG

..............

6,911,978

32,273

Zumtobel

Group

AG

............

282,099

28,425,802

BELGIUM

—

0.2%

2,523

Ascencio

REIT

................

129,409

284,438

Azelis

Group

NV

...............

7,349,380

104,780

Barco

NV

....................

2,440,055

36,452

Bekaert

SA

...................

1,740,229

29,389

bpost

SA

.....................

141,596

3,608

Cie

d'Entreprises

CFE

...........

36,496

156,033

Econocom

Group

SA

............

450,341

2,866

Etablissements

Franz

Colruyt

NV

...

108,936

18,393

EVS

Broadcast

Equipment

SA

.....

445,919

11,329

Ion

Beam

Applications

...........

182,858

45,435

Melexis

NV

...................

4,890,671

8,925

Retail

Estates

NV

REIT

..........

570,138

2,298

Sipef

NV

.....................

143,261

1,345

Wereldhave

Belgium

Comm

VA

REIT

71,575

18,700,864

BERMUDA

—

0.1%

420,000

James

River

Group

Holdings

Ltd.

...

7,765,800

BRAZIL

—

0.8%

1,738,914

Americanas

SA(a)

..............

419,215

2,748,375

BRF

SA

-

ADR(a)

..............

5,634,169

2,430,984

Cia

Energetica

de

Minas

Gerais

-

ADR

6,393,488

3,601,148

Hapvida

Participacoes

e

Investimentos

SA(a)(c)(d)

...............

3,678,254

669,904

Natura

&

Co.

Holding

SA

-

ADR(a)

5,131,465

597,110

Pagseguro

Digital

Ltd.

-

Class

A(a)

..

6,783,170

1,609,800

Rumo

SA

....................

7,914,956

579,100

StoneCo

Ltd.

-

Class

A(a)

........

8,391,159

2,018,638

Ultrapar

Participacoes

SA

.........

8,063,880

11,081,300

Via

SA(a)

....................

5,014,852

2,027,700

Vibra

Energia

SA

...............

7,328,235

64,752,843

CANADA

—

3.5%

841,882

AbCellera

Biologics,

Inc.(a)

.......

6,507,748

16,466

AGF

Management

Ltd.

-

Class

B

...

98,023

4,941

Agnico

Eagle

Mines

Ltd.

.........

259,012

6,500

AirBoss

of

America

Corp.

.........

23,611

125,630

Altius

Minerals

Corp.

...........

2,039,767

179,600

Altus

Group

Ltd.

...............

5,996,882

54,300

Amerigo

Resources

Ltd.

..........

66,709

203,005

ARC

Resources

Ltd.

............

3,066,666

14,600

ATCO

Ltd.

-

Class

I

............

416,747

Shares

Value

CANADA

(continued)

342,955

B2Gold

Corp.

.................

$

1,188,567

10,180

Bird

Construction,

Inc.

..........

68,477

26,300

Black

Diamond

Group

Ltd.

.......

122,859

106,286

Boardwalk

Real

Estate

Investment

Trust

REIT

...............

5,280,246

818,326

CAE,

Inc.(a)

..................

18,698,034

108,726

Calibre

Mining

Corp.(a)

.........

140,994

45,320

Canada

Goose

Holdings,

Inc.(a)

....

826,906

192,765

Canfor

Corp.(a)

...............

3,042,081

35,165

Capital

Power

Corp.

............

1,097,098

10,409

Cascades,

Inc.

.................

94,882

34,975

CCL

Industries,

Inc.

-

Class

B

.....

1,676,805

179,491

Celestica,

Inc.(a)

...............

3,944,678

317,180

Centerra

Gold,

Inc.

.............

2,034,917

80,224

CES

Energy

Solutions

Corp.

......

170,955

132,435

Choice

Properties

Real

Estate

Investment

Trust

REIT

......

1,397,013

4,980

Computer

Modelling

Group

Ltd.

...

27,191

6,527

Coveo

Solutions,

Inc.(a)

..........

58,704

83,510

Crescent

Point

Energy

Corp.

......

676,997

10,712

Crew

Energy,

Inc.(a)

............

45,248

98,620

Descartes

Systems

Group,

Inc.

(The)(a)

7,679,539

72,500

Descartes

Systems

Group,

Inc.

(The)(a)

5,654,742

8,812

Docebo,

Inc.(a)

................

339,075

751,219

Dollarama,

Inc.

................

49,483,094

24,967

Enghouse

Systems

Ltd.

..........

565,362

21,700

Evertz

Technologies

Ltd.

.........

223,146

19,383

Exco

Technologies

Ltd.

..........

129,793

22,300

Finning

International,

Inc.

........

768,108

64,415

FirstService

Corp.

..............

10,089,321

157,172

H&R

Real

Estate

Investment

Trust

REIT

...................

1,226,482

131,285

Headwater

Exploration,

Inc.

......

739,732

3,727

High

Liner

Foods,

Inc.

...........

39,824

284,779

Hudbay

Minerals,

Inc.

...........

1,697,466

1,592,686

IAMGOLD

Corp.(a)

............

4,332,106

19,564

InPlay

Oil

Corp.

...............

40,058

110,083

Interfor

Corp.(a)

...............

1,970,166

219,480

Killam

Apartment

Real

Estate

Investment

Trust

REIT

......

3,012,617

120,500

Kinaxis,

Inc.(a)

................

16,361,828

1,204,630

Kinross

Gold

Corp.

.............

5,999,057

411,025

Knight

Therapeutics,

Inc.(a)

.......

1,505,518

120,785

Laurentian

Bank

of

Canada

.......

3,639,167

2,700

Leon's

Furniture

Ltd.

............

45,476

709,800

Lightspeed

Commerce,

Inc.(a)

.....

12,471,896

30,037

Linamar

Corp.

................

1,743,018

11,050

Major

Drilling

Group

International,

Inc.(a)

...................

79,692

226,067

Martinrea

International,

Inc.

......

2,532,142

63,436

Medical

Facilities

Corp.

..........

411,313

403,200

MEG

Energy

Corp.(a)

...........

7,188,588

17,980

Methanex

Corp.

...............

810,337

Old

Westbury

Funds,

Inc.

Small

&

Mid

Cap

Strategies

Fund

Portfolio

of

Investments

-

(Continued)

3

July

31,

2023

(Unaudited)

Shares

Value

CANADA

(continued)

45,415

Metro,

Inc.

...................

$

2,444,244

2,087

Morguard

Corp.

...............

162,478

70,566

Morguard

North

American

Residential

Real

Estate

Investment

Trust

REIT

...................

876,556

405,272

Mullen

Group

Ltd.

.............

4,874,390

23,170

North

West

Co.,

Inc.

(The)

.......

564,029

76,930

Northland

Power,

Inc.

...........

1,488,253

2,467

NuVista

Energy

Ltd.(a)

..........

21,309

311,727

Pan

American

Silver

Corp.

........

5,261,952

24,350

Parkland

Corp.

................

664,955

222,987

Pason

Systems,

Inc.

.............

2,225,389

7,700

Pizza

Pizza

Royalty

Corp.

.........

87,765

7,800

Primaris

Real

Estate

Investment

Trust

REIT

...................

78,908

28,415

Quebecor,

Inc.

-

Class

B

.........

695,587

455,000

RB

Global,

Inc.

................

29,338,400

12,800

Reitmans

Canada

Ltd.

-

Class

A(a)

..

30,480

99,890

Richelieu

Hardware

Ltd.

.........

3,334,591

125,210

RioCan

Real

Estate

Investment

Trust

REIT

...................

1,903,811

36,107

Russel

Metals,

Inc.

..............

1,062,687

106,305

Saputo,

Inc.

...................

2,244,364

50,235

Shawcor

Ltd.(a)

................

765,725

84

SIR

Royalty

Income

Fund

-

Units

..

1,015

253,274

Stelco

Holdings,

Inc.

............

9,234,758

131,880

Stella-Jones,

Inc.

...............

6,696,762

50,375

Teck

Resources

Ltd.

-

Class

B

......

2,237,870

2,500

TECSYS,

Inc.

.................

51,625

41,875

TFI

International,

Inc.

...........

5,374,697

92,775

TMX

Group

Ltd.

..............

2,061,432

84,551

Torex

Gold

Resources,

Inc.(a)

.....

1,186,208

68,305

Tourmaline

Oil

Corp.

...........

3,539,957

10,825

Transat

AT,

Inc.(a)

..............

39,568

140,110

Transcontinental,

Inc.

-

Class

A

....

1,390,847

142,270

Vermilion

Energy,

Inc.

...........

1,983,030

22,148

Victoria

Gold

Corp.(a)

..........

142,934

44,177

Wajax

Corp.

..................

908,231

22,400

Westaim

Corp.

(The)(a)

..........

60,304

512,884

Western

Forest

Products,

Inc.

......

400,615

26,630

Westshore

Terminals

Investment

Corp.

616,752

976,455

Whitecap

Resources,

Inc.

.........

7,797,422

231

Winpak

Ltd.

..................

7,105

301,703,485

CHILE

—

0.1%

2,950,192

Cencosud

SA

..................

6,340,340

CHINA

—

4.2%

5,415,716

3SBio,

Inc.(c)(d)

...............

5,201,210

15,134,000

Agricultural

Bank

of

China

Ltd.

-

H

Shares

...................

5,491,700

1,914,439

Aisino

Corp.

-

A

Shares

..........

3,548,928

1,853,689

Alibaba

Group

Holding

Ltd.(a)

....

23,174,381

Shares

Value

CHINA

(continued)

3,030,000

Angang

Steel

Co.

Ltd.

-

H

Shares

...

$

905,243

194,700

Autohome,

Inc.

-

ADR

..........

6,224,559

3,196,200

Bank

of

Changsha

Co.

Ltd.

-

A

Shares

3,675,746

2,261,239

Bank

of

Chengdu

Co.

Ltd.

-

A

Shares

4,473,378

11,870,770

Bank

of

China

Ltd.

-

H

Shares

.....

4,398,893

6,712,000

Bank

of

Communications

Co.

Ltd.

-

H

Shares

...................

4,044,981

4,640,951

Bank

of

Jiangsu

Co.

Ltd.

-

A

Shares

.

4,687,960

2,881,900

Beibuwan

Port

Co.

Ltd.

-

A

Shares

..

3,310,258

1,020,100

Beibuwan

Port

Co.

Ltd.

-

A

Shares

..

1,171,864

6,712,800

Beijing

Ultrapower

Software

Co.

Ltd.

-

A

Shares

.................

9,739,176

4,926,600

Beijing

Yanjing

Brewery

Co.

Ltd.

-

A

Shares

...................

7,795,602

10,852,900

Beiqi

Foton

Motor

Co.

Ltd.

-

A

Shares(a)

.................

5,725,046

7,395,044

China

Construction

Bank

Corp.

-

H

Shares

...................

4,295,420

7,769,000

China

Galaxy

Securities

Co.

Ltd.

-

H

Shares

...................

4,522,594

1,235,600

China

National

Medicines

Corp.

Ltd.

-

A

Shares

.................

5,753,772

6,863,000

China

Railway

Group

Ltd.

-

H

Shares

4,496,779

954,800

China

Railway

Tielong

Container

Logistics

Co.

Ltd.

-

A

Shares

...

837,667

6,828,944

China

Railway

Tielong

Container

Logistics

Co.

Ltd.

-

A

Shares

...

5,990,469

888,400

Chongqing

Department

Store

Co.

Ltd.

-

A

Shares

................

4,424,848

5,845,600

Daqin

Railway

Co.

Ltd.

-

A

Shares

..

5,855,741

5,917,200

Dongfang

Electric

Corp.

Ltd.

-

H

Shares

...................

7,890,713

4,636,000

Dongfeng

Motor

Group

Co.

Ltd.

-

H

Shares

...................

2,163,772

2,706,000

E-Commodities

Holdings

Ltd.

.....

433,715

3,961,274

FAW

Jiefang

Group

Co.

Ltd.

-

A

Shares(a)

.................

5,137,530

1,610,730

Fujian

Star-net

Communication

Co.

Ltd.

-

A

Shares

.............

4,757,193

4,675,100

Guangxi

Liugong

Machinery

Co.

Ltd.

-

A

Shares

................

5,226,097

10,746,000

Industrial

&

Commercial

Bank

of

China

Ltd.

-

H

Shares

.......

5,235,969

6,143,300

IRICO

Display

Devices

Co.

Ltd.

-

A

Shares(a)

.................

5,458,420

2,675,600

JD

Logistics,

Inc.(a)(c)(d)

........

4,514,854

3,317,583

Jilin

Sino-Microelectronics

Co.

Ltd.

-

A

Shares

.................

3,240,177

10,004,125

Kingdee

International

Software

Group

Co.

Ltd.(a)

...............

17,394,240

2,279,820

Li

Ning

Co.

Ltd.

...............

13,739,315

2,651,400

Lufax

Holding

Ltd.

-

ADR

........

4,719,492

Old

Westbury

Funds,

Inc.

Small

&

Mid

Cap

Strategies

Fund

Portfolio

of

Investments

-

(Continued)

4

July

31,

2023

(Unaudited)

Shares

Value

CHINA

(continued)

1,269,600

Maccura

Biotechnology

Co.

Ltd.

-

A

Shares

...................

$

2,701,692

2,593,800

MLS

Co.

Ltd.

-

A

Shares

.........

3,374,887

1,001,700

NSFOCUS

Technologies

Group

Co.

Ltd.

-

A

Shares

.............

1,691,549

6,130,000

ORG

Technology

Co.

Ltd.

-

A

Shares

4,048,016

12,079,000

People's

Insurance

Co.

Group

of

China

Ltd.

(The)

-

H

Shares

........

4,630,936

12,856,100

Rizhao

Port

Co.

Ltd.

-

A

Shares

....

5,630,470

1,779,500

Sany

Heavy

Industry

Co.

Ltd.

-

A

Shares

...................

4,419,123

13,414,050

Shandong

Nanshan

Aluminum

Co.

Ltd.

-

A

Shares

.............

6,080,576

890,400

Shanghai

Kehua

Bio-Engineering

Co.

Ltd.

-

A

Shares

.............

1,232,177

1,437,405

Shanghai

Kehua

Bio-Engineering

Co.

Ltd.

-

A

Shares

.............

1,988,910

2,436,100

Shanghai

Mechanical

and

Electrical

Industry

Co.

Ltd.

-

A

Shares

...

5,487,326

2,246,131

Shenzhen

Hepalink

Pharmaceutical

Group

Co.

Ltd.

-

A

Shares

....

3,752,141

840,100

Shenzhen

Laibao

Hi-tech

Co.

Ltd.

-

A

Shares

...................

1,019,158

2,166,600

Shenzhen

Laibao

Hi-tech

Co.

Ltd.

-

A

Shares

...................

2,628,074

1,536,365

Sichuan

Kelun

Pharmaceutical

Co.

Ltd.

-

A

Shares

.............

5,936,874

7,990,500

Sinopec

Engineering

Group

Co.

Ltd.

-

H

Shares

.................

3,596,232

1,846,000

Sinopharm

Group

Co.

Ltd.

-

H

Shares

5,787,316

2,671,758

Tasly

Pharmaceutical

Group

Co.

Ltd.

-

A

Shares

.................

5,274,916

8,768,186

Tianjin

Port

Co.

Ltd.

-

A

Shares

....

5,827,670

2,315,467

Tongkun

Group

Co.

Ltd.

-

A

Shares(a)

4,836,578

2,144,767

Triangle

Tyre

Co.

Ltd.

-

A

Shares

...

4,906,697

553,636

Vipshop

Holdings

Ltd.

-

ADR(a)

...

10,424,966

295,192

Weibo

Corp.

-

ADR

............

4,649,274

4,087,200

Wuxi

Taiji

Industry

Co.

Ltd.

-

A

Shares(a)

.................

4,117,164

2,773,500

Xiamen

King

Long

Motor

Group

Co.

Ltd.

-

A

Shares(a)

...........

3,100,748

4,878,400

Xiaomi

Corp.

-

B

Shares(a)(c)(d)

...

7,681,436

2,045,674

Xuji

Electric

Co.

Ltd.

-

A

Shares

....

6,499,700

3,030,000

Yunnan

Copper

Co.

Ltd.

-

A

Shares

.

5,129,414

1,566,600

Yusys

Technologies

Co.

Ltd.

-

A

Shares

3,684,390

3,391,440

Zai

Lab

Ltd.(a)

................

10,719,332

8,448,000

Zoomlion

Heavy

Industry

Science

and

Technology

Co.

Ltd.

-

H

Shares

4,603,726

355,119,170

COSTA

RICA

—

0.0%

42,074

Establishment

Labs

Holdings,

Inc.(a)

3,029,749

Shares

Value

DENMARK

—

1.7%

621,885

ALK-Abello

A/S(a)

.............

$

6,771,787

1,205,427

Ambu

A/S

-

Class

B(a)

...........

17,794,873

9,724

Better

Collective

A/S(a)

..........

223,553

43,156

Carlsberg

A/S

-

Class

B

..........

6,472,700

141,763

D/S

Norden

A/S

...............

7,107,603

35,352

DFDS

A/S

...................

1,267,527

35,532

DSV

A/S

.....................

7,114,369

186,445

FLSmidth

&

Co.

A/S

............

8,830,650

84,315

Genmab

A/S(a)

................

34,671,984

2,124,803

H

Lundbeck

A/S

...............

10,552,847

18,630

H

Lundbeck

A/S

-

Class

A

........

83,510

25,765

Invisio

AB

....................

536,036

639,322

ISS

A/S

......................

12,918,693

17,780

Jyske

Bank

A/S(a)

..............

1,345,817

142,794

Matas

A/S

....................

2,098,486

22,271

Nilfisk

Holding

A/S(a)

...........

420,617

35,890

NKT

A/S(a)

..................

2,053,611

27,828

NTG

Nordic

Transport

Group

A/S(a)

1,736,838

6,113

Per

Aarsleff

Holding

A/S

.........

290,434

68,744

Royal

Unibrew

A/S

.............

5,949,956

98

Solar

A/S

-

Class

B

..............

7,331

103,577

Spar

Nord

Bank

A/S

............

1,647,475

3,058

Sparekassen

Sjaelland-Fyn

A/S

.....

82,119

31,250

Sydbank

A/S

..................

1,499,469

45,870

Topdanmark

A/S

...............

2,080,508

158,359

Tryg

A/S

.....................

3,128,673

220,238

Vestas

Wind

Systems

A/S(a)

.......

5,902,563

63,273

Zealand

Pharma

A/S(a)

..........

2,199,534

144,789,563

FINLAND

—

0.5%

4,400

Aspo

Oyj

....................

33,236

64,067

Cargotec

Oyj

-

Class

B

...........

3,058,577

443,645

Citycon

Oyj

..................

2,753,562

446,452

Finnair

Oyj(a)

.................

276,608

124

Fiskars

Oyj

Abp

................

2,211

38,322

F-Secure

Oyj

..................

94,383

63,205

Konecranes

Oyj

................

2,296,078

247,810

Metsa

Board

Oyj

-

Class

B

........

1,998,546

2,233,161

Metso

Oyj

....................

25,351,597

529

Olvi

Oyj

-

Class

A

..............

16,838

12,419

Oriola

Oyj

-

Class

A

............

16,181

20,218

Oriola

Oyj

-

Class

B

............

24,631

63,595

Orion

Oyj

-

Class

B

.............

2,443,099

681,674

Outokumpu

Oyj

...............

3,528,649

42,103

Puuilo

Oyj

...................

344,183

72,175

Revenio

Group

Oyj

.............

2,553,689

3,220

Titanium

Oyj(c)

...............

57,000

5,907

Vaisala

Oyj

-

Class

A

............

239,331

45,088,399

FRANCE

—

1.3%

7,362

ABC

arbitrage

.................

48,081

1,546,216

Air

France-KLM(a)

.............

2,669,951

Old

Westbury

Funds,

Inc.

Small

&

Mid

Cap

Strategies

Fund

Portfolio

of

Investments

-

(Continued)

5

July

31,

2023

(Unaudited)

Shares

Value

FRANCE

(continued)

12,529

Alten

SA

.....................

$

1,804,608

14,525

Amundi

SA(c)(d)

...............

891,139

757

Assystem

SA

..................

38,037

3,607

Aubay

.......................

169,344

27,620

Beneteau

SA

..................

451,271

369

Boiron

SA

....................

20,407

87,700

Carmila

SA

REIT

..............

1,421,321

80,124

Catana

Group

.................

649,270

413,595

Cellectis

SA(a)

.................

882,665

146,205

Cellectis

SA

-

ADR(a)

...........

304,106

58,343

Cie

des

Alpes

..................

858,302

166,048

Coface

SA

....................

2,431,829

57,020

Covivio

SA

REIT

..............

2,754,752

4,400

Dassault

Aviation

SA

............

854,839

79,495

Edenred

.....................

5,163,873

3,795

Ekinops

SAS(a)

................

33,381

21,361

Elis

SA

......................

441,310

10,600

Eramet

SA

....................

891,585

12,668

Etablissements

Maurel

et

Prom

SA

..

59,725

56,025

Eurazeo

SE

...................

3,418,772

59

Eurobio

Scientific

SA(a)

..........

952

436

Exclusive

Networks

SA

..........

9,300

5

Fnac

Darty

SA

.................

174

54,837

Gaztransport

Et

Technigaz

SA

.....

6,686,525

39,135

Gecina

SA

REIT

...............

4,231,896

23,168

Genfit

SA(a)

..................

84,826

124

Groupe

Guillin

................

3,886

5,312

Guerbet

.....................

124,696

18,441

Interparfums

SA

...............

1,330,098

31,510

Ipsen

SA

.....................

3,970,345

65,695

IPSOS

......................

3,283,651

4,099

Jacquet

Metals

SACA

............

81,754

101,065

Klepierre

SA

REIT

.............

2,683,571

348,961

Lectra

.......................

11,107,612

1,152

Mersen

SA

...................

54,211

5

Neurones

....................

208

25,645

Nexans

SA

...................

2,275,472

1,471

Peugeot

Invest

.................

173,381

3,536

Quadient

SA

..................

78,729

13,902

Remy

Cointreau

SA

.............

2,386,792

154

ReWorld

Media

SA(a)

...........

671

627,896

Rexel

SA

.....................

15,132,947

106,760

Rubis

SCA

...................

2,631,718

2,652

Seche

Environnement

SA

.........

339,408

57,524

Societe

BIC

SA

................

3,516,569

3,875

Societe

pour

l'Informatique

Industrielle

...............

226,662

11,857

Sopra

Steria

Group

SACA

........

2,577,370

160,328

SPIE

SA

.....................

4,808,936

972

Stef

SA

......................

117,772

160,608

Technip

Energies

NV

............

3,660,680

28,464

Television

Francaise

1

...........

232,843

712

TFF

Group

...................

34,289

Shares

Value

FRANCE

(continued)

214,977

Ubisoft

Entertainment

SA(a)

......

$

7,232,837

28,985

Veolia

Environnement

SA

........

943,323

77,560

Verallia

SA(c)(d)

...............

3,438,378

795

Vetoquinol

SA

.................

80,680

1,095

Vicat

SA

.....................

37,202

375

Virbac

SA

....................

115,447

4,559

Wavestone

....................

270,681

110,225,060

GERMANY

—

1.9%

12,834

3U

Holding

AG

...............

36,124

600,209

AIXTRON

SE

................

23,810,267

1,088

Amadeus

Fire

AG

..............

129,196

8,474

Aurubis

AG

...................

796,990

1,528

Basler

AG

....................

25,066

576

Bijou

Brigitte

AG

..............

29,069

57,585

Bilfinger

SE

...................

2,085,587

9,946

BioNTech

SE

-

ADR(a)

..........

1,082,821

35,261

Carl

Zeiss

Meditec

AG

...........

4,084,364

38,996

CECONOMY

AG(a)

...........

116,880

3,102

Cewe

Stiftung

&

Co.

KGAA

......

320,601

2,353

Cliq

Digital

AG

................

64,031

31,140

CTS

Eventim

AG

&

Co.

KGaA

....

2,124,495

68,905

Deutz

AG

....................

379,184

10,791

Draegerwerk

AG

&

Co.

KGaA

-

Preference

Shares

...........

542,217

292,374

Duerr

AG

....................

9,123,183

448

Ecotel

Communication

AG

.......

9,408

5,830

Elmos

Semiconductor

SE

.........

519,217

3,477

ElringKlinger

AG

..............

29,781

45,900

Ernst

Russ

AG

.................

258,391

176,004

EuroEyes

International

Eye

Clinic

Ltd.

110,582

24,187

Fielmann

Group

AG

............

1,242,985

95,356

Freenet

AG

...................

2,361,085

49,440

FUCHS

SE

-

Preference

Shares

....

2,043,909

179,615

Gerresheimer

AG

..............

21,269,317

481

Gesco

SE

....................

12,005

12,091

GFT

Technologies

SE

...........

350,697

22,730

Hamborner

REIT

AG

...........

164,445

307,491

Hamburger

Hafen

und

Logistik

AG

.

4,043,513

28,056

Hannover

Rueck

SE

............

5,989,056

272,218

Heidelberger

Druckmaschinen

AG(a)

433,691

26,937

HOCHTIEF

AG

..............

2,652,223

8,967

Hornbach

Holding

AG

&

Co.

KGaA

725,145

200,117

HUGO

BOSS

AG

.............

16,172,105

107,420

Immatics

NV(a)

...............

1,279,372

5,165

Indus

Holding

AG

..............

138,282

15,203

Jenoptik

AG

..................

491,442

26,885

K+S

AG

.....................

512,128

35,182

Kloeckner

&

Co.

SE

............

328,802

2,900

Knaus

Tabbert

AG

..............

190,994

11,686

Koenig

&

Bauer

AG(a)

..........

224,339

30,446

Krones

AG

...................

3,668,901

Old

Westbury

Funds,

Inc.

Small

&

Mid

Cap

Strategies

Fund

Portfolio

of

Investments

-

(Continued)

6

July

31,

2023

(Unaudited)

Shares

Value

GERMANY

(continued)

176

KSB

SE

&

Co.

KGaA

-

Preference

Shares

...................

$

111,463

2,164

KWS

Saat

SE

&

Co.

KGaA

.......

136,335

1,853

Mutares

SE

&

Co.

KGaA

.........

44,720

1,876

New

Work

SE

.................

220,705

99

Paul

Hartmann

AG

.............

23,294

308,560

ProSiebenSat.1

Media

SE

.........

3,070,997

92,356

SAF-Holland

SE

...............

1,319,075

184,481

Salzgitter

AG

..................

6,389,361

11,752

Schaeffler

AG

-

Preference

Shares

...

74,944

57,380

Scout24

SE(c)(d)

...............

3,796,715

93,168

SGL

Carbon

SE(a)

.............

778,531

21,524

Stabilus

SE

...................

1,227,063

281

STO

SE

&

Co.

KGaA

-

Preference

Shares

...................

46,406

7,582

Stroeer

SE

&

Co.

KGaA

.........

366,969

218,278

Suedzucker

AG

................

3,779,947

9,728

SUESS

MicroTec

SE

............

242,798

87,039

Symrise

AG

...................

9,510,605

1,479,560

thyssenkrupp

AG

...............

11,761,592

30,155

VERBIO

Vereinigte

BioEnergie

AG

.

1,468,785

672

Villeroy

&

Boch

AG

-

Preference

Shares

...................

14,038

31,475

Vitesco

Technologies

Group

AG(a)

..

2,690,676

69,286

Wacker

Neuson

SE

.............

1,797,847

5,453

Washtec

AG

..................

209,845

159,054,601

GREECE

—

0.4%

4,719,298

Alpha

Services

and

Holdings

SA(a)

..

8,486,394

4,631,994

Eurobank

Ergasias

Services

and

Holdings

SA(a)

............

8,084,943

1,460,902

National

Bank

of

Greece

SA(a)

.....

10,055,198

1,710,416

Piraeus

Financial

Holdings

SA(a)

...

6,461,750

33,088,285

HONG

KONG

—

0.6%

330,000

Analogue

Holdings

Ltd.

..........

60,085

98,000

APT

Satellite

Holdings

Ltd.

.......

29,530

1,463,400

ASMPT

Ltd.

..................

14,232,634

731,920

Bank

of

East

Asia

Ltd.

(The)

......

1,122,436

536,000

Bright

Smart

Securities

&

Commodities

Group

Ltd.

.....

129,208

66,035

Build

King

Holdings

Ltd.

........

8,721

20,000

Cafe

de

Coral

Holdings

Ltd.

......

26,209

619

Chow

Sang

Sang

Holdings

International

Ltd.

..........

721

1,010,445

Chow

Tai

Fook

Jewellery

Group

Ltd.

1,754,276

116,000

Comba

Telecom

Systems

Holdings

Ltd.

.....................

19,485

3,006,710

COSCO

SHIPPING

Ports

Ltd.

....

1,896,808

365,200

Dah

Sing

Banking

Group

Ltd.

.....

273,470

2,756,045

Emperor

Watch

&

Jewellery

Ltd.

...

69,264

13,837

FSE

Lifestyle

Services

Ltd.

........

10,752

Shares

Value

HONG

KONG

(continued)

48,000

Great

Eagle

Holdings

Ltd.

........

$

89,366

97,415

HKR

International

Ltd.

..........

24,357

525,800

Hutchison

Port

Holdings

Trust

-

U

Shares-

Units

..............

97,273

431,247

International

Housewares

Retail

Co.

Ltd.

.....................

145,981

205,918

Jacobson

Pharma

Corp.

Ltd.(c)

....

25,611

158,591

Jinhui

Shipping

&

Transportation

Ltd.

107,970

1,756,598

Johnson

Electric

Holdings

Ltd.

....

2,419,042

107,031

Kerry

Logistics

Network

Ltd.

......

131,749

122,000

LH

GROUP

Ltd.(c)

............

17,051

467,374

Luk

Fook

Holdings

International

Ltd.

1,231,524

5,724,000

Nine

Dragons

Paper

Holdings

Ltd.

..

3,750,483

44,788

Oriental

Watch

Holdings

.........

25,728

19,595,425

Pacific

Basin

Shipping

Ltd.

.......

6,356,848

1,237,876

PC

Partner

Group

Ltd.

..........

615,851

5,553,880

PCCW

Ltd.

..................

2,834,303

83,000

Perfect

Medical

Health

Management

Ltd.

.....................

46,295

951,043

Prosperity

REIT

...............

206,088

1,336,000

Shun

Tak

Holdings

Ltd.(a)

........

222,698

1,762,000

Singamas

Container

Holdings

Ltd.

..

151,373

358,000

SITC

International

Holdings

Co.

Ltd.

780,367

200,000

SOCAM

Development

Ltd.(a)

.....

28,209

273,500

Stella

International

Holdings

Ltd.

...

268,278

9,538,388

Sun

Art

Retail

Group

Ltd.

........

2,910,842

74,500

Swire

Pacific

Ltd.

-

A

Shares

.......

620,443

1,156,177

Tai

Hing

Group

Holdings

Ltd.(c)

...

142,319

1,397

Tang

Palace

China

Holdings

Ltd.

...

93

40,656

Tsit

Wing

International

Holdings

Ltd.

4,118

6,838,000

United

Laboratories

International

Holdings

Ltd.

(The)

.........

5,462,404

35,200

Valuetronics

Holdings

Ltd.

.......

14,559

902,737

VSTECS

Holdings

Ltd.

..........

457,220

123,000

VTech

Holdings

Ltd.

............

765,704

123,676

Wai

Kee

Holdings

Ltd.(a)

........

23,787

811,500

WH

Group

Ltd.(c)(d)

...........

439,104

910,000

Xinyi

Glass

Holdings

Ltd.

........

1,502,879

51,553,516

ICELAND

—

0.1%

1,085,974

Ossur

HF(a)

..................

5,071,425

INDIA

—

0.9%

6,840,431

Bank

of

Baroda

................

16,816,488

212,712

IndiaMart

InterMesh

Ltd.(c)(d)

....

8,049,299

9,752,652

Indian

Oil

Corp.

Ltd.

...........

11,116,414

455,188

Lupin

Ltd.

...................

5,453,761

716,765

PB

Fintech

Ltd.(a)

..............

6,375,166

714,580

Sun

TV

Network

Ltd.

...........

4,705,440

5,793,774

TV18

Broadcast

Ltd.(a)

..........

2,852,905

228,990

WNS

Holdings

Ltd.

-

ADR(a)

.....

15,825,499

Old

Westbury

Funds,

Inc.

Small

&

Mid

Cap

Strategies

Fund

Portfolio

of

Investments

-

(Continued)

7

July

31,

2023

(Unaudited)

Shares

Value

INDIA

(continued)

1,197,601

Zee

Entertainment

Enterprises

Ltd.

.

$

3,528,790

74,723,762

INDONESIA

—

0.0%

35,325,900

Perusahaan

Gas

Negara

Tbk

PT

....

3,197,603

IRELAND

—

0.1%

286,519

Alkermes

Plc(a)

................

8,389,277

73,324

Cairn

Homes

Plc

...............

89,301

50,166

COSMO

Pharmaceuticals

NV

.....

2,577,188

13,888

Grafton

Group

Plc

-

Units,

CDI

...

156,113

11,211,879

ISRAEL

—

2.4%

32

Afcon

Holdings

Ltd.(a)

..........

819

40,621

Altshuler

Shaham

Penn

Ltd.

.......

76,963

6,934

Arad

Ltd.

....................

109,084

115,128

B

Communications

Ltd.(a)

.......

379,830

246,330

Bank

Leumi

Le-Israel

BM

........

1,967,746

605,180

Bezeq

The

Israeli

Telecommunication

Corp.

Ltd.

................

801,606

22,998

Carasso

Motors

Ltd.

............

104,649

196,182

CyberArk

Software

Ltd.(a)

........

32,568,174

3,591

Danya

Cebus

Ltd.

..............

91,810

543,734

El

Al

Israel

Airlines(a)

...........

712,674

38,622

FIBI

Holdings

Ltd.

.............

1,720,665

110,775

First

International

Bank

of

Israel

Ltd.

(The)

....................

4,685,111

252,499

Fiverr

International

Ltd.(a)

........

7,610,320

779

FMS

Enterprises

Migun

Ltd.

......

24,620

19,376

Formula

Systems

1985

Ltd.

.......

1,406,567

9,501

Israel

Corp.

Ltd.

...............

2,958,847

5,648,868

Isramco

Negev

2

LP

.............

2,281,579

355,807

JFrog

Ltd.(a)

..................

10,948,181

607,029

Kornit

Digital

Ltd.(a)

...........

19,236,749

1,954

Levinstein

Properties

Ltd.

........

40,710

37,164

Max

Stock

Ltd.

................

81,694

190,170

Mivne

Real

Estate

KD

Ltd.

.......

501,565

35,292

Monday.com

Ltd.(a)

............

6,380,088

9,449

Naphtha

Israel

Petroleum

Corp.

Ltd.

46,723

10,997

Next

Vision

Stabilized

Systems

Ltd.

.

60,479

367,904

Nice

Ltd.

-

ADR(a)

.............

80,147,886

13,431,116

Oil

Refineries

Ltd.

..............

4,292,375

24,234

One

Software

Technologies

Ltd.

....

321,657

272,059

Plus500

Ltd.

..................

5,258,153

398,989

Radware

Ltd.(a)

................

7,497,003

46,566

Rami

Levy

Chain

Stores

Hashikma

Marketing

2006

Ltd.

........

2,811,704

25,347

Retailors

Ltd.

.................

548,215

73,186

Sella

Capital

Real

Estate

Ltd.

REIT

.

152,397

933,634

Tel

Aviv

Stock

Exchange

Ltd.(a)

....

4,977,147

988

Telsys

Ltd.

....................

66,778

200,870,568

Shares

Value

ITALY

—

1.3%

4,779,470

A2A

SpA

.....................

$

9,120,100

1,490

ACEA

SpA

...................

18,250

215,355

Anima

Holding

SpA(c)(d)

........

830,161

167,366

Arnoldo

Mondadori

Editore

SpA

...

394,721

28,637

Azimut

Holding

SpA

............

676,327

145,193

Banca

IFIS

SpA

................

2,563,814

237,353

Banca

Mediolanum

SpA

.........

2,306,971

283,780

BFF

Bank

SpA(c)(d)

............

3,201,285

92,505

Biesse

SpA

....................

1,245,938

475,725

BPER

Banca

..................

1,646,069

19,443

Brunello

Cucinelli

SpA

..........

1,645,005

313,994

Buzzi

SpA

....................

8,920,909

274,097

Cairo

Communication

SpA

.......

525,589

856

Cembre

SpA

..................

30,494

41,223

Cementir

Holding

NV

..........

388,886

81,835

Credito

Emiliano

SpA

...........

700,026

6,429

Danieli

&

C

Officine

Meccaniche

SpA

159,045

49,191

Danieli

&

C

Officine

Meccaniche

SpA

-

RSP

...................

945,415

72,909

Datalogic

SpA

.................

541,905

709,713

Davide

Campari-Milano

NV

......

9,543,429

3,648

De'

Longhi

SpA

...............

92,654

42,430

Digital

Bros

SpA

...............

656,391

511,758

Ermenegildo

Zegna

NV

..........

8,121,599

3,563

Fine

Foods

&

Pharmaceuticals

NTM

31,497

90,906

Geox

SpA(a)

..................

82,560

7,441

GPI

SpA

.....................

89,504

458,278

Hera

SpA

....................

1,422,948

149,787

IMMSI

SpA

..................

79,216

89,900

Intercos

SpA

..................

1,567,682

193,769

Iren

SpA

.....................

392,223

10,572

Italian

Sea

Group

SpA

(The)

......

88,342

767,106

Iveco

Group

NV(a)

.............

7,275,453

1,293,075

Leonardo

SpA

.................

17,508,678

3,455

LU-VE

SpA

...................

111,874

609,620

Maire

Tecnimont

SpA

...........

2,504,156

138,246

MFE-MediaForEurope

NV

-

Class

A

73,173

48,370

Moncler

SpA

..................

3,495,175

441

Orsero

SpA

...................

6,216

2,566

Pharmanutra

SpA

..............

163,918

336,218

Piaggio

&

C

SpA

...............

1,321,946

158,781

Rizzoli

Corriere

Della

Sera

Mediagroup

SpA

...........

125,697

3,250

Salcef

Group

SpA

..............

84,153

172,985

Salvatore

Ferragamo

SpA

.........

2,816,818

31,494

Sanlorenzo

SpA

................

1,222,356

2,070,929

Saras

SpA

....................

2,958,944

8,174

SIT

SpA(a)

...................

32,175

47,025

Sogefi

SpA(a)

..................

67,422

20,648

SOL

SpA

....................

582,318

167,450

Stevanato

Group

SpA

...........

5,229,463

6,995

TXT

e-solutions

SpA

............

167,664

681,866

Unipol

Gruppo

SpA

............

3,798,039

Old

Westbury

Funds,

Inc.

Small

&

Mid

Cap

Strategies

Fund

Portfolio

of

Investments

-

(Continued)

8

July

31,

2023

(Unaudited)

Shares

Value

ITALY

(continued)

43,492

Zignago

Vetro

SpA

.............

$

779,457

108,354,050

JAPAN

—

7.9%

32,700

77

Bank

Ltd.

(The)

.............

695,305

4,500

A&A

Material

Corp.

............

36,502

32,900

A&D

HOLON

Holdings

Co.

Ltd.

..

434,535

17,800

AB&Company

Co.

Ltd.

.........

145,513

61,730

ABC-Mart,

Inc.

................

3,414,426

2,000

ABHotel

Co.

Ltd.

..............

43,159

4,400

Abist

Co.

Ltd.

.................

103,146

3,300

Access

Co.

Ltd.(a)

..............

21,062

34,100

Acom

Co.

Ltd.

................

83,725

60,000

Adastria

Co.

Ltd.

...............

1,221,383

48,400

ADEKA

Corp.

................

978,955

8,900

Ad-sol

Nissin

Corp.

.............

104,474

22,800

Advanced

Media,

Inc.

...........

283,668

4,760

Advantest

Corp.

...............

653,281

28,200

Adways,

Inc.

..................

133,007

22,200

Aeon

Delight

Co.

Ltd.

...........

459,402

320,900

AEON

Financial

Service

Co.

Ltd.

...

2,878,209

990

AEON

REIT

Investment

Corp.

....

1,041,739

52,900

Ai

Holdings

Corp.

..............

832,181

7,400

Aichi

Corp.

...................

46,658

1,400

Aichi

Tokei

Denki

Co.

Ltd.

.......

15,509

26,900

Aiming,

Inc.

..................

78,848

6,600

Aiphone

Co.

Ltd.

..............

116,074

61,200

Airtrip

Corp.

..................

1,113,314

100,600

Aisan

Industry

Co.

Ltd.

..........

830,879

9,500

AIT

Corp.

....................

124,338

57,000

Akatsuki,

Inc.

.................

846,596

152,000

Alfresa

Holdings

Corp.

..........

2,424,265

8,800

Alpha

Systems,

Inc.

.............

210,930

12,300

AlphaPolis

Co.

Ltd.(a)

...........

241,478

3,400

Alps

Logistics

Co.

Ltd.

...........

37,569

111,892

Altech

Corp.

..................

2,221,874

15,600

Amano

Corp.

.................

353,965

1,000

Amiyaki

Tei

Co.

Ltd.

............

23,829

1,800

Anabuki

Kosan,

Inc.

............

27,532

57,100

Anest

Iwata

Corp.

..............

470,398

44,600

Anicom

Holdings,

Inc.

..........

198,132

80,200

Anritsu

Corp.

.................

630,821

2,900

AOI

Electronics

Co.

Ltd.

.........

36,733

51,200

AOKI

Holdings,

Inc.

............

330,741

98,200

ARE

Holdings,

Inc.

.............

1,317,018

32,300

Arealink

Co.

Ltd.

...............

616,644

7,600

Arisawa

Manufacturing

Co.

Ltd.

...

58,069

30,200

Artiza

Networks,

Inc.

............

200,180

12,600

Artner

Co.

Ltd.

................

161,901

40,700

As

One

Corp.

.................

1,616,099

208,800

Asahi

Diamond

Industrial

Co.

Ltd.

.

1,319,447

21,300

Asahi

Net,

Inc.

................

98,366

15,300

ASAHI

YUKIZAI

CORP.

........

473,739

Shares

Value

JAPAN

(continued)

34,200

Asia

Pile

Holdings

Corp.

.........

$

152,171

7,600

ASKA

Pharmaceutical

Holdings

Co.

Ltd.

.....................

83,337

198,270

ASKUL

Corp.

.................

2,763,641

21,304

Ateam,

Inc.

...................

103,027

44,900

Atrae,

Inc.(a)

..................

251,855

6,600

Aucnet,

Inc.

..................

82,949

1,000

Aval

Data

Corp.

...............

30,998

74,096

Avant

Group

Corp.

.............

786,975

84,900

Avex,

Inc.

....................

895,160

2,300

Awa

Bank

Ltd.

(The)

............

34,743

11,200

Axell

Corp.

...................

126,907

11,500

Axial

Retailing,

Inc.

.............

306,769

591,000

Azbil

Corp.

...................

18,610,902

35,200

Bando

Chemical

Industries

Ltd.

....

361,241

1,100

Bank

of

Saga

Ltd.

(The)

..........

14,103

391,139

BASE,

Inc.(a)

.................

673,595

8,600

baudroie,

Inc.(a)

...............

387,488

8,400

Bewith,

Inc.

..................

147,021

339,700

BIPROGY,

Inc.

................

8,323,862

78,300

BML,

Inc.

....................

1,653,896

1,100

Boutiques,

Inc.(a)

..............

22,748

286,400

Bunka

Shutter

Co.

Ltd.

..........

2,218,485

5,800

Business

Brain

Showa-Ota,

Inc.

....

92,138

6,000

Business

Engineering

Corp.

.......

128,211

1,700

Canare

Electric

Co.

Ltd.

.........

17,160

1,900

Canon

Marketing

Japan,

Inc.

......

49,762

4,700

Career

Design

Center

Co.

Ltd.

.....

58,608

478,500

Carenet,

Inc.

..................

3,141,454

10,200

Carlit

Holdings

Co.

Ltd.

.........

59,437

13,500

Casio

Computer

Co.

Ltd.

........

115,200

10,700

Celm,

Inc.

....................

94,992

3,300

Central

Automotive

Products

Ltd.

..

82,926

35,200

Central

Glass

Co.

Ltd.

...........

763,308

22,352

Central

Security

Patrols

Co.

Ltd.

...

459,719

142,900

Chiba

Kogyo

Bank

Ltd.

(The)

.....

671,986

5,700

Chino

Corp.

..................

91,110

101,900

Chiyoda

Corp.(a)

..............

247,113

2,500

Chiyoda

Integre

Co.

Ltd.

.........

43,124

1,900

Chugai

Ro

Co.

Ltd.

.............

27,445

5,000

Chuo

Warehouse

Co.

Ltd.

........

39,117

950,380

CKD

Corp.

...................

14,416,195

5,200

Cleanup

Corp.

................

27,048

26,000

CMIC

Holdings

Co.

Ltd.

........

359,667

155,500

COLOPL,

Inc.

................

726,865

320

Comforia

Residential

REIT,

Inc.

...

765,895

219,600

Computer

Engineering

&

Consulting

Ltd.

.....................

2,644,184

20,300

Comture

Corp.

................

288,237

11,800

Copro-Holdings

Co.

Ltd.

........

178,329

1,800

Core

Corp.

...................

21,914

21,000

Cosel

Co.

Ltd.

.................

180,825

217,535

Credit

Saison

Co.

Ltd.

...........

3,471,019

Old

Westbury

Funds,

Inc.

Small

&

Mid

Cap

Strategies

Fund

Portfolio

of

Investments

-

(Continued)

9

July

31,

2023

(Unaudited)

Shares

Value

JAPAN

(continued)

43,800

Creek

&

River

Co.

Ltd.

..........

$

622,526

63,000

Cresco

Ltd.

...................

917,555

4,600

CTI

Engineering

Co.

Ltd.

........

114,139

19,400

CTS

Co.

Ltd.

.................

102,683

2,800

Cube

System,

Inc.

..............

23,795

10,500

Cyber

Security

Cloud,

Inc.(a)

......

204,811

18,400

Cybernet

Systems

Co.

Ltd.

........

104,504

37,500

Cybozu,

Inc.

..................

587,021

9,300

Dai-Dan

Co.

Ltd.

..............

194,479

9,700

Daihatsu

Diesel

Manufacturing

Co.

Ltd.

.....................

52,501

29,300

Daihen

Corp.

.................

1,128,626

5,900

Dai-Ichi

Cutter

Kogyo

KK

........

59,720

1,700

Daiichi

Jitsugyo

Co.

Ltd.

.........

64,049

16,100

Daiichikosho

Co.

Ltd.

...........

324,739

58,600

Daiken

Medical

Co.

Ltd.

.........

214,604

188,559

Daikokutenbussan

Co.

Ltd.

.......

7,992,203

5,900

Daiseki

Eco.

Solution

Co.

Ltd.

.....

53,167

14,100

Daisue

Construction

Co.

Ltd.

.....

138,458

35,100

Daito

Pharmaceutical

Co.

Ltd.

.....

577,331

38,500

Daitron

Co.

Ltd.

...............

848,399

475

Daiwa

House

REIT

Investment

Corp.

934,875

5,200

Daiwa

Industries

Ltd.

...........

52,853

42,400

Daiwabo

Holdings

Co.

Ltd.

.......

819,895

226,900

Dear

Life

Co.

Ltd.

..............

1,408,306

43,300

DeNA

Co.

Ltd.

................

530,198

24,500

Denka

Co.

Ltd.

................

483,146

3,100

Densan

System

Holdings

Co.

Ltd.

..

71,472

39,700

Dentsu

Group,

Inc.

.............

1,326,077

6,300

Denyo

Co.

Ltd.

................

96,627

6,500

Digital

Arts,

Inc.

...............

256,774

38,900

Digital

Garage,

Inc.

.............

1,130,647

24,200

Digital

Holdings,

Inc.

...........

181,842

9,200

dip

Corp.

....................

231,835

23,810

Disco

Corp.

..................

4,458,570

97,800

DMG

Mori

Co.

Ltd.

............

1,659,159

117,700

Doshisha

Co.

Ltd.

..............

1,938,432

15,500

Double

Standard,

Inc.

...........

258,215

19,800

Dowa

Holdings

Co.

Ltd.

.........

638,544

58,000

Duskin

Co.

Ltd.

...............

1,308,684

6,700

Ebase

Co.

Ltd.

.................

34,050

23,100

E-Guardian,

Inc.

...............

334,813

16,400

Ehime

Bank

Ltd.

(The)

..........

101,560

140,900

Eiken

Chemical

Co.

Ltd.

.........

1,494,521

18,900

Eizo

Corp.

...................

670,896

136,100

Elecom

Co.

Ltd.

...............

1,463,698

8,000

Elematec

Corp.

................

100,320

301,050

en

Japan,

Inc.

.................

5,939,953

2,900

Endo

Lighting

Corp.

............

26,214

4,200

Enplas

Corp.

..................

179,496

3,500

Entrust,

Inc.

..................

24,725

5,300

ERI

Holdings

Co.

Ltd.

..........

74,732

4,300

eSOL

Co.

Ltd.

................

25,087

Shares

Value

JAPAN

(continued)

10,700

Exedy

Corp.

..................

$

186,976

100,900

EXEO

Group,

Inc.

.............

2,096,158

200

Fabrica

Communications

Co.

Ltd.

..

3,974

7,800

FALCO

HOLDINGS

Co.

Ltd.

....

102,966

331,500

FAN

Communications,

Inc.

.......

953,035

24,500

FCC

Co.

Ltd.

.................

320,662

58,905

Ferrotec

Holdings

Corp.

.........

1,422,266

61,800

Financial

Partners

Group

Co.

Ltd.

..

595,563

14,100

FJ

Next

Holdings

Co.

Ltd.

........

103,174

26,600

Forum

Engineering,

Inc.

.........

240,450

6,100

Foster

Electric

Co.

Ltd.

..........

38,761

5,000

FP

Partner,

Inc.(a)

..............

143,922

114,427

Freee

KK(a)

...................

2,517,531

470

Frontier

Real

Estate

Investment

Corp.

REIT

...................

1,560,995

24,200

Fudo

Tetra

Corp.

...............

321,499

31,400

Fuji

Corp.

....................

573,748

24,500

Fuji

Corp.

....................

300,858

18,725

Fuji

Pharma

Co.

Ltd.

............

153,733

6,900

Fuji

Seal

International,

Inc.

.......

77,165

33,800

Fuji

Soft,

Inc.

.................

1,124,964

91,500

Fujimi,

Inc.

...................

2,215,707

6,200

Fujimori

Kogyo

Co.

Ltd.

.........

155,583

30,300

Fujisash

Co.

Ltd.

...............

19,381

225,900

Fujitec

Co.

Ltd.

................

5,798,944

7,400

Fukuda

Denshi

Co.

Ltd.

.........

234,590

74,753

Fukui

Computer

Holdings,

Inc.

....

1,377,202

8,700

Fukuyama

Transporting

Co.

Ltd.

...

245,531

145,200

FULLCAST

Holdings

Co.

Ltd.

....

2,345,409

4,600

Funai

Soken

Holdings,

Inc.

.......

85,200

33,200

Furukawa

Electric

Co.

Ltd.

.......

636,276

98,800

Furuno

Electric

Co.

Ltd.

.........

895,877

95,483

Furyu

Corp.

..................

989,965

1,400

Fuso

Pharmaceutical

Industries

Ltd.

.

20,292

75,100

Futaba

Industrial

Co.

Ltd.

........

329,930

122,800

Future

Corp.

..................

1,337,063

9,900

Fuyo

General

Lease

Co.

Ltd.

......

816,272

10,800

G-7

Holdings,

Inc.

.............

94,893

51,100

Gakken

Holdings

Co.

Ltd.

........

320,037

38,400

Gakujo

Co.

Ltd.

...............

526,072

12,200

Gecoss

Corp.

..................

80,353

1,000

Genki

Sushi

Co.

Ltd.

............

32,264

8,400

Gift

Holdings,

Inc.

.............

132,910

92,200

Glory

Ltd.

....................

1,893,708

66,600

GMO

Financial

Gate,

Inc.

........

5,510,013

2,800

GMO

GlobalSign

Holdings

KK

....

59,832

23,997

Goldcrest

Co.

Ltd.

..............

325,549

3,300

Goldwin,

Inc.

.................

270,699

21,400

Grandy

House

Corp.

............

91,307

145,000

Gree,

Inc.

....................

640,073

2,600

Greens

Co.

Ltd.

................

27,213

370,980

GungHo

Online

Entertainment,

Inc.

7,274,092

32,300

Gunze

Ltd.

...................

1,014,874

Old

Westbury

Funds,

Inc.

Small

&

Mid

Cap

Strategies

Fund

Portfolio

of

Investments

-

(Continued)

10

July

31,

2023

(Unaudited)

Shares

Value

JAPAN

(continued)

144,100

H.U.

Group

Holdings,

Inc.

.......

$

2,844,219

8,600

Hagihara

Industries,

Inc.

.........

93,215

8,600

Hamakyorex

Co.

Ltd.

...........

237,268

73,085

Hamamatsu

Photonics

KK

........

3,516,957

48,100

Hanwa

Co.

Ltd.

...............

1,641,482

29,100

Happinet

Corp.

................

457,574

10,200

Hard

Off

Corp.

Co.

Ltd.

.........

109,266

10,300

Hazama

Ando

Corp.

............

82,319

49,800

Heiwa

Corp.

..................

842,923

21,000

Hennge

KK(a)

.................

130,341

13,200

Hioki

EE

Corp.

................

753,411

78,300

Hisamitsu

Pharmaceutical

Co.,

Inc.

.

2,499,832

17,411

Hito

Communications

Holdings,

Inc.

189,328

32,800

Hochiki

Corp.

.................

415,922

1,200

Hodogaya

Chemical

Co.

Ltd.

......

28,932

16,300

Hogy

Medical

Co.

Ltd.

..........

356,901

4,800

Hokkaido

Gas

Co.

Ltd.

..........

81,988

4,500

H-One

Co.

Ltd.

...............

26,444

3,000

Hoosiers

Holdings

Co.

Ltd.

.......

22,289

62,100

Horiba

Ltd.

...................

3,658,385

7,900

Hosokawa

Micron

Corp.

.........

196,021

18,600

Hotland

Co.

Ltd.

..............

222,653

23,700

Hyakujushi

Bank

Ltd.

(The)

.......

356,337

45,200

Ichikoh

Industries

Ltd.

..........

169,979

2,200

ID

Holdings

Corp.

.............

20,830

19,500

Idec

Corp.

....................

413,946

47,115

Idemitsu

Kosan

Co.

Ltd.

.........

993,533

23,300

IHI

Corp.

....................

571,916

5,900

IJTT

Co.

Ltd.

.................

25,173

13,900

I'll,

Inc.

......................

253,544

27,100

IMAGICA

GROUP,

Inc.

.........

121,342

1,856,611

Infomart

Corp.

................

5,520,307

39,700

Information

Services

International-

Dentsu

Ltd.

...............

1,406,446

64,600

INFRONEER

Holdings,

Inc.

......

628,223

106,045

Inpex

Corp.

...................

1,365,954

2,100

Integrated

Design

&

Engineering

Holdings

Co.

Ltd.

..........

50,409

6,100

Intelligent

Wave,

Inc.

............

35,117

383,800

Internet

Initiative

Japan,

Inc.

......

7,132,936

40,500

I-PEX,

Inc.

...................

379,763

18,000

IR

Japan

Holdings

Ltd.

..........

208,765

4,100

Iriso

Electronics

Co.

Ltd.

.........

113,693

17,000

ISB

Corp.

....................

188,325

142,530

Isuzu

Motors

Ltd.

..............

1,845,431

75,500

Itfor,

Inc.

....................

583,770

16,700

ITmedia,

Inc.

..................

161,407

85,400

Itochu

Techno-Solutions

Corp.

....

2,162,238

600

Itochu-Shokuhin

Co.

Ltd.

........

22,859

95,600

Itoki

Corp.

...................

790,255

5,700

Iwaki

Co.

Ltd.

.................

58,096

64,000

Izumi

Co.

Ltd.

................

1,610,516

92,800

JAC

Recruitment

Co.

Ltd.

........

1,840,149

Shares

Value

JAPAN

(continued)

158,760

JAFCO

Group

Co.

Ltd.

..........

$

2,072,869

134,400

Japan

Aviation

Electronics

Industry

Ltd.

.....................

2,725,505

11,600

Japan

Best

Rescue

System

Co.

Ltd.

..

63,681

11,000

Japan

Electronic

Materials

Corp.

...

136,703

1,060

Japan

Excellent,

Inc.

REIT

........

982,772

143,100

Japan

Lifeline

Co.

Ltd.

...........

1,001,846

13,800

Japan

Medical

Dynamic

Marketing,

Inc.

.....................

95,159

1,490

Japan

Metropolitan

Fund

Invest

REIT

1,021,158

72,000

Japan

Post

Insurance

Co.

Ltd.

.....

1,163,266

5,900

Japan

Pulp

&

Paper

Co.

Ltd.

......

191,600

48,400

Japan

System

Techniques

Co.

Ltd.

..

832,494

14,500

Japan

Transcity

Corp.

...........

65,128

42,091

JBCC

Holdings,

Inc.

............

766,582

39,400

JCR

Pharmaceuticals

Co.

Ltd.

.....

373,880

143,900

Jeol

Ltd.

.....................

4,923,946

53,800

JINUSHI

Co.

Ltd.

.............

720,787

3,200

JK

Holdings

Co.

Ltd.

...........

22,808

9,100

Joyful

Honda

Co.

Ltd.

...........

105,287

12,900

JSB

Co.

Ltd.

..................

483,302

5,400

J-Stream,

Inc.

.................

20,117

59,500

JTEKT

Corp.

.................

559,806

73,800

Justsystems

Corp.

..............

2,097,826

58,400

JVCKenwood

Corp.

............

192,525

3,800

K&O

Energy

Group,

Inc.

........

63,037

1,200

Kaga

Electronics

Co.

Ltd.

........

53,646

56,300

Kajima

Corp.

.................

888,833

164,500

Kakaku.com,

Inc.

..............

2,454,810

46,500

Kaken

Pharmaceutical

Co.

Ltd.

....

1,157,393

42,800

Kamakura

Shinsho

Ltd.

..........

212,097

49,100

Kamigumi

Co.

Ltd.

.............

1,138,241

7,700

Kanaden

Corp.

................

72,310

172,900

Kanamoto

Co.

Ltd.

.............

3,044,421

3,600

Kandenko

Co.

Ltd.

.............

31,530

54,600

Kanematsu

Corp.

..............

800,588

3,000

Kanro,

Inc.

...................

38,801

9,200

Kansai

Paint

Co.

Ltd.

...........

150,612

3,900

Kaonavi,

Inc.(a)

................

56,828

46,100

Katitas

Co.

Ltd.

................

846,401

2,800

Kato

Works

Co.

Ltd.

............

22,417

5,800

Kawada

Technologies,

Inc.

........

236,460

2,100

Kawai

Musical

Instruments

Manufacturing

Co.

Ltd.

......

53,509

33,300

Kawasaki

Kisen

Kaisha

Ltd.

.......

1,002,289

25,600

Keihanshin

Building

Co.

Ltd.

.....

227,272

830

Kenedix

Office

Investment

Corp.

REIT

...................

1,971,954

5,900

Kenko

Mayonnaise

Co.

Ltd.

......

54,618

43,400

Kewpie

Corp.

.................

703,936

19,900

KeyHolder,

Inc.

................

141,698

31,500

KH

Neochem

Co.

Ltd.

..........

514,353

45,300

Kimoto

Co.

Ltd.

...............

62,092

Old

Westbury

Funds,

Inc.

Small

&

Mid

Cap

Strategies

Fund

Portfolio

of

Investments

-

(Continued)

11

July

31,

2023

(Unaudited)

Shares

Value

JAPAN

(continued)

6,700

Kimura

Chemical

Plants

Co.

Ltd.

...

$

34,474

4,200

Kimura

Unity

Co.

Ltd.

..........

38,084

63,700

Kinden

Corp.

.................

877,602

57,200

Kissei

Pharmaceutical

Co.

Ltd.

.....

1,210,220

1,800

Kita-Nippon

Bank

Ltd.

(The)

......

27,494

67,250

Kitz

Corp.

....................

499,654

24,800

KNT-CT

Holdings

Co.

Ltd.(a)

....

250,502

5,100

Koatsu

Gas

Kogyo

Co.

Ltd.

.......

27,747

17,600

Kobayashi

Pharmaceutical

Co.

Ltd.

.

967,187

109,300

Kobe

Bussan

Co.

Ltd.

...........

2,910,262

222,700

Kobe

Steel

Ltd.

................

2,429,483

70,600

Koei

Tecmo

Holdings

Co.

Ltd.

.....

1,206,897

1,000

Koike

Sanso

Kogyo

Co.

Ltd.

......

26,465

14,800

Kokuyo

Co.

Ltd.

...............

237,191

43,500

Komeri

Co.

Ltd.

...............

911,187

100,700

Komori

Corp.

.................

783,572

313,800

Konica

Minolta,

Inc.

............

1,160,662

33,900

Konoike

Transport

Co.

Ltd.

.......

424,390

5,700

Kose

Corp.

...................

557,720

1,700

Kotobuki

Spirits

Co.

Ltd.

.........

129,174

900

Krosaki

Harima

Corp.

...........

68,640

4,500

KRS

Corp.

...................

29,702

67,900

K's

Holdings

Corp.

.............

622,848

31,000

Kurabo

Industries

Ltd.

...........

510,983

8,900

Kureha

Corp.

.................

531,129

8,200

Kuriyama

Holdings

Corp.

........

54,815

15,800

KYB

Corp.

...................

558,634

6,800

Kyodo

Printing

Co.

Ltd.

.........

154,627

66,300

Kyokuto

Kaihatsu

Kogyo

Co.

Ltd.

..

849,576

23,500

Kyokuto

Securities

Co.

Ltd.

.......

127,357

6,600

LAC

Co.

Ltd.

.................

34,841

11,200

LaKeel,

Inc.(a)

.................

175,324

63,000

Lawson,

Inc.

..................

3,158,746

129,100

LIFULL

Co.

Ltd.

..............

277,683

7,000

Link-U,

Inc.(a)

................

46,350

345,700

Lion

Corp.

...................

3,303,547

25,100

M&A

Capital

Partners

Co.

Ltd.(a)

..

514,474

154,153

M3,

Inc.

.....................

3,535,664

44,200

Mabuchi

Motor

Co.

Ltd.

.........

1,268,228

34,900

Macromill,

Inc.

................

194,046

5,300

Maezawa

Industries,

Inc.

.........

34,162

1,600

Makino

Milling

Machine

Co.

Ltd.

..

63,993

21,400

Mandom

Corp.

................

214,805

41,900

Mani,

Inc.

....................

537,648

25,800

MarkLines

Co.

Ltd.

.............

480,401

900

Maruchiyo

Yamaokaya

Corp.

......

34,035

9,000

Maruwa

Co.

Ltd.

...............

1,492,356

13,500

Maruzen

Showa

Unyu

Co.

Ltd.

....

392,384

225,600

Marvelous,

Inc.

................

1,114,798

38,700

Matching

Service

Japan

Co.

Ltd.

...

325,889

2,100

Matsuda

Sangyo

Co.

Ltd.

.........

34,364

2,300

Matsuoka

Corp.

...............

20,564

54,300

Max

Co.

Ltd.

.................

1,015,274

Shares

Value

JAPAN

(continued)

57,300

Maxell

Ltd.

...................

$

650,473

5,900

MCJ

Co.

Ltd.

.................

46,780

5,700

Media

Do

Co.

Ltd.(a)

...........

54,330

51,600

Medipal

Holdings

Corp.

.........

883,727

62,500

Megachips

Corp.

...............

1,867,114

7,900

Megmilk

Snow

Brand

Co.

Ltd.

....

108,895

104,000

Meidensha

Corp.

...............

1,547,591

6,200

Meiji

Electric

Industries

Co.

Ltd.

...

67,289

46,500

Meiko

Network

Japan

Co.

Ltd.

....

220,627

6,100

Meisei

Industrial

Co.

Ltd.

........

42,063

285,700

Meitec

Corp.

..................

5,196,280

38,400

Meiwa

Estate

Co.

Ltd.

...........

307,438

26,000

Melco

Holdings,

Inc.

............

583,910

67,900

Menicon

Co.

Ltd.

..............

1,215,151

390,500

Micronics

Japan

Co.

Ltd.

.........

6,214,403

12,800

Milbon

Co.

Ltd.

...............

460,212

13,700

Mimaki

Engineering

Co.

Ltd.

.....

91,869

25,500

Mimasu

Semiconductor

Industry

Co.

Ltd.

.....................

532,710

996

Mirai

Corp.

REIT

..............

320,997

156,300

Mirait

one

Corp.

...............

2,005,043

530,500

Mirarth

Holdings,

Inc.

..........

1,801,086

22,700

Miroku

Jyoho

Service

Co.

Ltd.

.....

269,180

84,500

Mito

Securities

Co.

Ltd.

..........

231,051

13,800

Mitsuba

Corp.

.................

80,512

7,400

Mitsubishi

Kakoki

Kaisha

Ltd.

.....

143,355

72,900

Mitsubishi

Logistics

Corp.

........

1,828,841

40,400

Mitsubishi

Materials

Corp.

.......

721,586

7,300

Mitsubishi

Pencil

Co.

Ltd.

........

95,442

24,800

Mitsubishi

Research

Institute,

Inc.

..

937,855

20,000

Mitsubishi

Shokuhin

Co.

Ltd.

.....

532,106

39,300

Mitsuboshi

Belting

Ltd.

..........

1,243,103

26,100

Mitsui

Mining

&

Smelting

Co.

Ltd.

.

616,060

164,850

Mitsui

OSK

Lines

Ltd.

..........

4,258,417

11,300

Mitsui-Soko

Holdings

Co.

Ltd.

....

287,931

89,000

Miura

Co.

Ltd.

................

2,240,874

153,300

Mixi,

Inc.

....................

2,893,266

900

Miyaji

Engineering

Group,

Inc.

....

27,962

87,750

Mizuno

Corp.

.................

2,297,605

22,100

Mochida

Pharmaceutical

Co.

Ltd.

..

513,412

155,700

Money

Forward,

Inc.(a)

..........

6,723,123

38,300

Monogatari

Corp.

(The)

..........

936,871

392,800

MonotaRO

Co.

Ltd.

............

4,793,173

2,900

MORESCO

Corp.

.............

24,319

258

Mori

Hills

REIT

Investment

Corp.

.

262,416

226,393

Morinaga

Milk

Industry

Co.

Ltd.

...

7,633,692

4,300

Moriroku

Holdings

Co.

Ltd.

......

63,382

23,900

Morito

Co.

Ltd.

...............

204,452

7,300

Mory

Industries,

Inc.

............

182,417

46,580

Mugen

Estate

Co.

Ltd.

...........

293,038

4,800

Nachi-Fujikoshi

Corp.

...........

129,392

4,600

Nagaileben

Co.

Ltd.

............

76,244

9,200

Nagano

Keiki

Co.

Ltd.

...........

133,863

Old

Westbury

Funds,

Inc.

Small

&

Mid

Cap

Strategies

Fund

Portfolio

of

Investments

-

(Continued)

12

July

31,

2023

(Unaudited)

Shares

Value

JAPAN

(continued)

11,700

Nagase

&

Co.

Ltd.

.............

$

200,750

17,500

Naigai

Trans

Line

Ltd.

...........

341,229

35,100

Nakanishi,

Inc.

................

808,017

1,700

Nanyo

Corp.

..................

25,942

68,100

NEC

Corp.

...................

3,438,388

7,600

NEC

Networks

&

System

Integration

Corp.

...................

100,112

8,200

Needs

Well,

Inc.

...............

44,901

3,000

NEOJAPAN,

Inc.

..............

21,741

71,800

NET

One

Systems

Co.

Ltd.

.......

1,575,144

5,900

Neturen

Co.

Ltd.

...............

43,836

24,900

Nextage

Co.

Ltd.

...............

652,845

20,100

Nichias

Corp.

.................

412,271

15,900

Nichiban

Co.

Ltd.

..............

226,656

4,500

Nichiha

Corp.

.................

103,276

1,700

Nichirin

Co.

Ltd.

..............

34,654

12,400

Nihon

Chouzai

Co.

Ltd.

.........

104,942

20,300

Nihon

Falcom

Corp.

............

177,223

3,700

Nihon

Flush

Co.

Ltd.

...........

25,202

68,200

Nihon

Kohden

Corp.

...........

1,796,743

9,300

Nihon

Trim

Co.

Ltd.

............

212,456

28,200

Nikkiso

Co.

Ltd.

...............

179,391

14,600

Nikkon

Holdings

Co.

Ltd.

........

306,388

120

Nippon

Accommodations

Fund,

Inc.

REIT

...................

568,516

8,100

Nippon

Air

Conditioning

Services

Co.

Ltd.

.....................

45,093

380

Nippon

Building

Fund,

Inc.

REIT

..

1,591,959

2,600

Nippon

Concept

Corp.

..........

36,040

2,600

Nippon

Densetsu

Kogyo

Co.

Ltd.

..

39,256

23,500

Nippon

Express

Holdings,

Inc.

.....

1,376,814

5,900

Nippon

Kayaku

Co.

Ltd.

.........

54,349

7,400

Nippon

Pillar

Packing

Co.

Ltd.

....

231,469

9,800

Nippon

Seiki

Co.

Ltd.

...........

68,541

13,000

Nippon

Sheet

Glass

Co.

Ltd.(a)

....

59,122

3,900

Nippon

Shokubai

Co.

Ltd.

.......

149,870

147,205

Nippon

Steel

Corp.

.............

3,358,714

39,600

Nippon

Thompson

Co.

Ltd.

......

159,775

75,100

Nipro

Corp.

..................

545,044

21,900

Nishio

Holdings

Co.

Ltd.

........

555,716

12,000

Nissan

Tokyo

Sales

Holdings

Co.

Ltd.

33,824

44,800

Nissha

Co.

Ltd.

................

540,377

295,100

Nisshinbo

Holdings,

Inc.

.........

2,532,718

12,900

Nissin

Corp.

..................

237,933

67,200

Nisso

Corp.

...................

414,730

11,100

Nitta

Corp.

...................

253,186

142,700

Nitto

Kogyo

Corp.

.............

3,646,115

2,100

Nitto

Kohki

Co.

Ltd.

............

28,548

37,900

Nitto

Seiko

Co.

Ltd.

............

161,175

61,900

Nittoc

Construction

Co.

Ltd.

......

498,629

7,400

Noda

Corp.

...................

61,795

282,017

NOF

Corp.

...................

12,153,701

3,400

Nohmi

Bosai

Ltd.

..............

41,226

Shares

Value

JAPAN

(continued)

7,300

Noritake

Co.

Ltd.

..............

$

284,272

70,400

Noritz

Corp.

..................

863,515

46,000

North

Pacific

Bank

Ltd.

..........

100,235

1,200

Novac

Co.

Ltd.

................

25,052

14,200

NS

Solutions

Corp.

.............

372,305

263,022

NSD

Co.

Ltd.

.................

5,145,259

2,061

NSW,

Inc.

....................

35,971

1,210

NTT

UD

REIT

Investment

Corp.

..

1,147,359

2,300

Obara

Group,

Inc.

..............

67,093

18,500

OBIC

Business

Consultants

Co.

Ltd.

776,333

4,600

Ohba

Co.

Ltd.

.................

29,295

10,000

Oita

Bank

Ltd.

(The)

............

172,425

13,200

Okabe

Co.

Ltd.

................

67,176

1,200

Okamoto

Industries,

Inc.

.........

33,318

142,900

Okamura

Corp.

................

2,047,097

356,400

Oki

Electric

Industry

Co.

Ltd.

.....

2,247,150

2,200

Okinawa

Cellular

Telephone

Co.

...

46,470

30,500

OKUMA

Corp.

................

1,544,027

12,500

Okura

Industrial

Co.

Ltd.

........

210,083

1,700

One

Career,

Inc.(a)

.............

43,018

24,500

Ono

Pharmaceutical

Co.

Ltd.

......

448,014

108,500

Onward

Holdings

Co.

Ltd.

.......

437,005

58,700

Open

Up

Group,

Inc.

...........

918,470

24,600

Optim

Corp.(a)

................

168,767

13,600

Optorun

Co.

Ltd.

..............

225,129

12,900

Oracle

Corp.

Japan

.............

904,582

36,800

Organo

Corp.

.................

1,064,436

138,700

Oriental

Shiraishi

Corp.

..........

303,207

628

Orix

JREIT,

Inc.

REIT

..........

798,546

19,200

Oro

Co.

Ltd.

..................

253,184

181,300

Osaki

Electric

Co.

Ltd.

..........

730,221

86,900

OSG

Corp.

...................

1,155,389

59,200

Otsuka

Corp.

.................

2,462,211

17,030

Oyo

Corp.

...................

314,827

9,000

Pacific

Industrial

Co.

Ltd.

........

86,416

9,100

PALTAC

Corp.

................

305,434

31,400

Pan

Pacific

International

Holdings

Corp.

...................

619,988

7,200

PAPYLESS

Co.

Ltd.

............

44,790

47,000

Paramount

Bed

Holdings

Co.

Ltd.

..

768,770

7,400

Pasco

Corp.

...................

95,501

51,500

Pasona

Group,

Inc.

.............

609,247

2,800

PCA

Corp.

...................

29,699

50,400

Pegasus

Co.

Ltd.

...............

202,642

448,245

PeptiDream,

Inc.(a)

.............

5,695,026

900

Pickles

Holdings

Co.

Ltd.

........

7,908

7,000

Pilot

Corp.

...................

230,324

88,100

Pola

Orbis

Holdings,

Inc.

.........

1,291,791

46,300

Pole

To

Win

Holdings,

Inc.

.......

219,027

4,800

PR

Times,

Corp.(a)

.............

54,152

92,600

Prestige

International,

Inc.

........

377,521

44,300

Pronexus,

Inc.

.................

329,140

2,400

Pro-Ship,

Inc.

.................

23,061

Old

Westbury

Funds,

Inc.

Small

&

Mid

Cap

Strategies

Fund

Portfolio

of

Investments

-

(Continued)

13

July

31,

2023

(Unaudited)

Shares

Value

JAPAN

(continued)

108,352

Proto

Corp.

...................

$

968,782

2,300

QB

Net

Holdings

Co.

Ltd.

.......

24,154

38,100

Qol

Holdings

Co.

Ltd.

..........

453,938

4,500

Quick

Co.

Ltd.

................

77,022

2,400

Raito

Kogyo

Co.

Ltd.

...........

34,735

50,600

Rakus

Co.

Ltd.

................

857,886

2,500

Rasa

Corp.

...................

26,728

90,600

Raysum

Co.

Ltd.

...............

1,920,072

73,600

Resorttrust,

Inc.

................

1,162,214

3,748

Rheon

Automatic

Machinery

Co.

Ltd.

38,227

3,300

Ride

On

Express

Holdings

Co.

Ltd.

.

24,681

10,900

Riken

Corp.

..................

255,520

72,800

Riken

Technos

Corp.

............

350,017

23,700

Riken

Vitamin

Co.

Ltd.

..........

345,842

23,700

Rinnai

Corp.

..................

515,764

7,600

Rion

Co.

Ltd.

.................

119,076

7,600

Riso

Kagaku

Corp.

.............

124,579

47,400

Riso

Kyoiku

Co.

Ltd.

............

87,627

2,900

Rix

Corp.

....................

65,434

184,460

Rohm

Co.

Ltd.

................

17,244,705

324,400

Rohto

Pharmaceutical

Co.

Ltd.

....

6,909,162

57,900

Roland

DG

Corp.

..............

1,448,874

152,600

Round

One

Corp.

..............

609,263

8,400

RPA

Holdings,

Inc.(a)

...........

23,027

10,700

RS

Technologies

Co.

Ltd.

.........

229,020

17,200

Ryobi

Ltd.

....................

357,021

14,400

Sac's

Bar

Holdings,

Inc.

..........

102,940

100

Saison

Information

Systems

Co.

Ltd.

1,322

37,400

Saizeriya

Co.

Ltd.

..............

1,188,261

3,000

Sakai

Heavy

Industries

Ltd.

.......

109,655

8,900

Sakai

Moving

Service

Co.

Ltd.

.....

334,067

5,500

Sakata

INX

Corp.

..............

47,320

77,410

Sakata

Seed

Corp.

..............

2,173,781

29,100

Sangetsu

Corp.

................

533,665

11,700

Sanix,

Inc.(a)

..................

29,360

41,600

Sanken

Electric

Co.

Ltd.

.........

4,239,975

95,505

Sankyo

Co.

Ltd.

...............

4,035,961

15,200

Sankyo

Tateyama,

Inc.

...........

102,676

55,300

Sankyu,

Inc.

..................

1,914,403

1,700

Sanrio

Co.

Ltd.

................

79,094

31,900

Sansan,

Inc.(a)

.................

337,353

4,100

Sansei

Technologies,

Inc.

.........

35,967

30,700

Sansha

Electric

Manufacturing

Co.

Ltd.

.....................

319,160

445,500

Santen

Pharmaceutical

Co.

Ltd.

....

3,889,298

129,800

Sanwa

Holdings

Corp.

...........

1,762,722

600

Sanyo

Denki

Co.

Ltd.

...........

30,366

29,600

Sanyo

Shokai

Ltd.

..............

425,904

2,000

Sanyo

Trading

Co.

Ltd.

..........

19,161

92,700

Sato

Holdings

Corp.

............

1,296,034

2,500

Sato

Shoji

Corp.

...............

26,939

39,240

Sawai

Group

Holdings

Co.

Ltd.

....

977,794

5,000

SB

Technology

Corp.

............

90,852

Shares

Value

JAPAN

(continued)

4,600

SBS

Holdings,

Inc.

.............

$

108,966

110,600

SCREEN

Holdings

Co.

Ltd.

......

11,925,660

11,500

Scroll

Corp.

...................

78,329

139,200

SCSK

Corp.

..................

2,311,602

5,400

Seed

Co.

Ltd.

.................

23,192

204,200

Sega

Sammy

Holdings,

Inc.

.......

4,461,066

3,500

Seika

Corp.

...................

49,573

125,200

Seikagaku

Corp.

...............

681,157

2,000

Seiko

Group

Corp.

.............

36,931

19,000

Seino

Holdings

Co.

Ltd.

.........

298,559

4,900

Sekisui

Jushi

Corp.

.............

76,876

17,100

Sekisui

Kasei

Co.

Ltd.

...........

54,450

900

Semba

Corp.

..................

4,985

42,500

SERAKU

Co.

Ltd.

..............

408,375

4,600

Seria

Co.

Ltd.

.................

77,149

62,500

Seven

Bank

Ltd.

...............

135,662

5,400

SFP

Holdings

Co.

Ltd.

..........

84,038

972,400

SG

Holdings

Co.

Ltd.

...........

14,179,481

3,600

Shibusawa

Warehouse

Co.

Ltd.

(The)

78,066

8,000

Shibuya

Corp.

.................

147,781

7,300

Shikoku

Bank

Ltd.

(The)

.........

47,772

10,200

Shin

Nippon

Air

Technologies

Co.

Ltd.

.....................

170,998

6,600

Shinagawa

Refractories

Co.

Ltd.

....

292,271

65,000

Shindengen

Electric

Manufacturing

Co.

Ltd.

.................

1,496,327

16,300

Shinmaywa

Industries

Ltd.

........

164,300

27,500

Shinnihon

Corp.

...............

244,913

14,900

Shinnihonseiyaku

Co.

Ltd.

........

154,902

700

Shinsho

Corp.

.................

30,064

30,400

Shoei

Co.

Ltd.

.................

551,737

20,297

Shofu,

Inc.

...................

339,270

3,400

Sigma

Koki

Co.

Ltd.

............

37,593

22,400

SIGMAXYZ

Holdings,

Inc.

.......

208,940

16,200

Simplex

Holdings,

Inc.

..........

326,357

83,000

Sinfonia

Technology

Co.

Ltd.

......

1,004,646

59,800

Sinko

Industries

Ltd.

............

826,393

58,300

SK-Electronics

Co.

Ltd.

..........

655,268

75,900

SKY

Perfect

JSAT

Holdings,

Inc.

...

316,372

2,900

SMK

Corp.

...................

54,365

160,000

SMS

Co.

Ltd.

.................

3,387,481

152,800

Sodick

Co.

Ltd.

................

779,762

8,800

Softcreate

Holdings

Corp.

........

105,094

500

Software

Service,

Inc.

............

36,130

152,000

Sohgo

Security

Services

Co.

Ltd.

...

928,037

44,900

Sojitz

Corp.

...................

1,065,178

51,800

Solasto

Corp.

.................

254,148

103,713

Soliton

Systems

KK

.............

905,434

90,780

Sosei

Group

Corp.(a)

............

1,157,522

6,000

Sprix,

Inc.

....................

34,077

13,000

Square

Enix

Holdings

Co.

Ltd.

.....

601,638

4,400

SRA

Holdings

.................

99,743

2,000

ST

Corp.

.....................

21,411

Old

Westbury

Funds,

Inc.

Small

&

Mid

Cap

Strategies

Fund

Portfolio

of

Investments

-

(Continued)

14

July

31,

2023

(Unaudited)

Shares

Value

JAPAN

(continued)

20,000

Stanley

Electric

Co.

Ltd.

.........

$

368,819

22,700

Star

Mica

Holdings

Co.

Ltd.

......

98,449

158,100

Star

Micronics

Co.

Ltd.

..........

1,965,901

105,600

Starts

Corp.,

Inc.

...............

2,186,005

4,600

St-Care

Holding

Corp.

..........

25,350

2,200

Step

Co.

Ltd.

..................

27,371

1,000

STI

Foods

Holdings,

Inc.

.........

24,321

5,900

Strike

Co.

Ltd.

................

124,416

12,000

Studio

Alice

Co.

Ltd.

............

182,195

32,200

Subaru

Corp.

.................

608,057

31,300

Sugi

Holdings

Co.

Ltd.

..........

1,393,776

4,200

Sugimoto

&

Co.

Ltd.

............

62,410

29,300

Sumitomo

Heavy

Industries

Ltd.

...

719,396

19,000

Sumitomo

Mitsui

Trust

Holdings,

Inc.

738,151

340,100

Sumitomo

Pharma

Co.

Ltd.

.......

1,409,025

65,400

Sumitomo

Riko

Co.

Ltd.

.........

376,039

1,900

Sumitomo

Seika

Chemicals

Co.

Ltd.

62,102

38,000

Sumitomo

Warehouse

Co.

Ltd.

(The)

652,810

173,900

Sun

Frontier

Fudousan

Co.

Ltd.

....

1,843,329

42,000

Sun-Wa

Technos

Corp.

..........

669,567

104,700

Suzuken

Co.

Ltd.

..............

3,053,459

1,300

Suzuki

Co.

Ltd.

................

8,453

2,800

Suzumo

Machinery

Co.

Ltd.

......

21,748

53,600

Synchro

Food

Co.

Ltd.(a)

........

272,399

4,600

System

Information

Co.

Ltd.

......

23,701

2,500

System

Support,

Inc.

............

34,513

332,600

Systena

Corp.

.................

635,906

7,200

T.

RAD

Co.

Ltd.

...............

93,173

4,400

Taihei

Dengyo

Kaisha

Ltd.

........

137,476

4,500

Taiho

Kogyo

Co.

Ltd.

...........

26,444

2,800

Taikisha

Ltd.

..................

83,253

32,600

Taisho

Pharmaceutical

Holdings

Co.

Ltd.

.....................

1,257,345

13,600

Takara

&

Co.

Ltd.

..............

222,357

76,600

Takara

Holdings,

Inc.

...........

673,847

106,400

Takara

Standard

Co.

Ltd.

.........

1,392,590

13,200

Takasago

International

Corp.

......

265,086

6,700

Takasago

Thermal

Engineering

Co.

Ltd.

.....................

120,799

53,400

Takeuchi

Manufacturing

Co.

Ltd.

..

1,668,457

27,500

Takuma

Co.

Ltd.

...............

300,390

124,400

Tamron

Co.

Ltd.

...............

3,930,538

61,500

Tanseisha

Co.

Ltd.

..............

338,485

29,000

TBS

Holdings,

Inc.

.............

541,820

5,900

TDC

Soft,

Inc.

................

80,663

153,300

TechMatrix

Corp.

..............

1,681,004

1,100

Techno

Medica

Co.

Ltd.

.........

16,431

28,100

TechnoPro

Holdings,

Inc.

........

725,486

15,200

Teikoku

Electric

Manufacturing

Co.

Ltd.

.....................

282,386

66

Tekken

Corp.

.................

947

78,900

Temairazu,

Inc.

................

2,187,892

2,600

Tera

Probe,

Inc.

................

69,905

Shares

Value

JAPAN

(continued)

19,187

T-Gaia

Corp.

..................

$

242,088

85,580

TIS,

Inc.

.....................

2,167,397

1,700

TKC

Corp.

...................

44,154

11,500

Toa

Corp.

....................

81,886

8,200

Tobishima

Corp.

...............

79,138

88,700

TOC

Co.

Ltd.

.................

381,572

109,465

Tochigi

Bank

Ltd.

(The)

..........

219,292

3,700

Toho

Co.

Ltd.

.................

70,091

144,200

Toho

Holdings

Co.

Ltd.

..........

2,811,730

79,200

Tokai

Carbon

Co.

Ltd.

..........

703,122

24,000

Tokai

Corp.

...................

323,059

11,000

Tokyo

Keiki,

Inc.

...............

100,671

12,600

Tokyo

Ohka

Kogyo

Co.

Ltd.

......

794,004

4,900

Tokyo

Rakutenchi

Co.

Ltd.

.......

141,732

8,500

Tokyo

Rope

Manufacturing

Co.

Ltd.

76,955

129,800

Tokyo

Seimitsu

Co.

Ltd.

.........

7,180,445

42,410

Tokyo

Tatemono

Co.

Ltd.

........

565,655

24,700

Tokyotokeiba

Co.

Ltd.

...........

668,436

16,700

Tokyu

Construction

Co.

Ltd.

......

90,270

326,645

Tokyu

Fudosan

Holdings

Corp.

....

1,938,540

1,035

Tokyu

REIT,

Inc.

..............

1,368,457

83,085

TOMONY

Holdings,

Inc.

........

235,358

291,890

Tomy

Co.

Ltd.

................

3,947,537

800

Tonami

Holdings

Co.

Ltd.

........

28,904

39,200

Topcon

Corp.

.................

475,723

25,200

Topre

Corp.

..................

289,614

20,100

Topy

Industries

Ltd.

............

349,117

5,700

Torishima

Pump

Manufacturing

Co.

Ltd.

.....................

75,645

197,500

Tosei

Corp.

...................

2,444,716

63,655

Toshiba

TEC

Corp.

.............

1,845,688

1,100

Totech

Corp.

..................

40,980

91,300

TOTO

Ltd.

...................

2,805,133

142,500

Towa

Pharmaceutical

Co.

Ltd.

.....

1,801,972

6,600

Toyo

Denki

Seizo

KK

...........

45,186

69,400

Toyo

Engineering

Corp.(a)

........

317,084

18,700

Toyo

Machinery

&

Metal

Co.

Ltd.

..

90,960

44,700

Toyo

Seikan

Group

Holdings

Ltd.

..

726,279

48,900

Toyo

Tire

Corp.

................

660,639

2,200

Toyokumo,

Inc.

................

27,758

4,800

Toyota

Boshoku

Corp.

...........

87,352

5,700

TPR

Co.

Ltd.

.................

72,319

38,000

Traders

Holdings

Co.

Ltd.

........

172,818

6,500

Trancom

Co.

Ltd.

..............

322,110

142,300

Transcosmos,

Inc.

..............

3,480,856

54,305

Trend

Micro,

Inc.

..............

2,561,323

2,900

Trinity

Industrial

Corp.

..........

18,896

81,700

Trusco

Nakayama

Corp.

.........

1,257,100

96,800

Tsubakimoto

Chain

Co.

.........

2,575,391

4,300

Tsubakimoto

Kogyo

Co.

Ltd.

......

143,872

68,700

Tsugami

Corp.

................

601,213

27,300

Tsukada

Global

Holdings,

Inc.

.....

97,867

15,700

TV

Asahi

Holdings

Corp.

........

197,761

Old

Westbury

Funds,

Inc.

Small

&

Mid

Cap

Strategies

Fund

Portfolio

of

Investments

-

(Continued)

15

July

31,

2023

(Unaudited)

Shares

Value

JAPAN

(continued)

8,900

TWOSTONE&Sons,

Inc.

........

$

88,772

3,700

TYK

Corp.

...................

9,051

35,000

UACJ

Corp.

..................

699,434

219,000

Ubicom

Holdings,

Inc.

..........

2,199,775

9,800

Uchida

Yoko

Co.

Ltd.

...........

380,248

5,800

Union

Tool

Co.

................

134,130

41,200

Unipres

Corp.

.................

328,117

75,400

United

Arrows

Ltd.

.............

1,270,402

96,800

UNITED,

Inc.

................

584,481

147,200

Ushio,

Inc.

...................

2,036,785

147,040

USS

Co.

Ltd.

.................

2,545,668

37,900

UT

Group

Co.

Ltd.(a)

...........

763,781

36,000

V

Technology

Co.

Ltd.

..........

626,043

1,800

Valor

Holdings

Co.

Ltd.

.........

27,000

43,600

ValueCommerce

Co.

Ltd.

........

416,493

18,300

Vector,

Inc.

...................

168,509

11,600

VINX

Corp.

..................

105,592

12,900

Vision,

Inc.(a)

.................

159,589

20,500

Vital

KSK

Holdings,

Inc.

.........

142,944

147,100

Wacom

Co.

Ltd.

...............

625,561

5,400

Wakita

&

Co.

Ltd.

.............

48,699

6,200

Wantedly,

Inc.(a)

...............

73,128

19,600

Warabeya

Nichiyo

Holdings

Co.

Ltd.

377,079

2,900

Waseda

Academy

Co.

Ltd.

........

28,620

800

WDB

coco

Co.

Ltd.

............

35,652

19,600

WDB

Holdings

Co.

Ltd.

.........

289,595

24,800

Will

Group,

Inc.

...............

196,287

17,200

WingArc1st,

Inc.

...............

330,423

37,200

Workman

Co.

Ltd.

.............

1,357,101

24,600

Wowow,

Inc.

..................

200,583

103,400

Xebio

Holdings

Co.

Ltd.

.........

826,386

135,700

YAMABIKO

Corp.

.............

1,479,427

2,300

YAMADA

Consulting

Group

Co.

Ltd.

25,964

27,600

Yamae

Group

Holdings

Co.

Ltd.

...

643,124

4,500

Yamagata

Bank

Ltd.

(The)

........

35,933

80,000

Yamaichi

Electronics

Co.

Ltd.

.....

1,282,677

33,400

Yamanashi

Chuo

Bank

Ltd.

(The)

...

332,439

65,400

Yamazen

Corp.

................

555,324

12,200

Yellow

Hat

Ltd.

................

160,105

147,410

Yokohama

Rubber

Co.

Ltd.

(The)

...

3,298,113

8,200

Yokowo

Co.

Ltd.

...............

105,767

2,300

Yondenko

Corp.

...............

37,798

4,300

Yorozu

Corp.

..................

28,321

5,000

Yossix

Holdings

Co.

Ltd.

.........

92,679

1,900

Yuasa

Trading

Co.

Ltd.

..........

60,767

4,600

Yurtec

Corp.

..................

28,551

20,100

Yushin

Precision

Equipment

Co.

Ltd.

103,845

68,300

Zenkoku

Hosho

Co.

Ltd.

.........

2,395,169

93,400

Zenrin

Co.

Ltd.

................

585,617

60,600

Zeon

Corp.

...................

652,153

47,800

ZERIA

Pharmaceutical

Co.

Ltd.

....

781,855

201,500

ZIGExN

Co.

Ltd.

..............

1,111,851

60,600

ZOZO,

Inc.

..................

1,180,777

Shares

Value

JAPAN

(continued)

13,100

Zuken,

Inc.

...................

$

381,218

674,327,790

JERSEY

CHANNEL

ISLANDS

—

0.2%

492,802

Novocure

Ltd.(a)

...............

16,085,057

LUXEMBOURG

—

0.0%

36,390

APERAM

SA

.................

1,149,110

438,650

Perimeter

Solutions

SA(a)

........

2,438,894

3,588,004

MALAYSIA

—

0.1%

21,463,000

Top

Glove

Corp.

Behrad(a)

.......

4,379,233

MEXICO

—

0.1%

714,065

Qualitas

Controladora

SAB

de

CV

..

5,263,058

NETHERLANDS

—

0.9%

12,734

AMG

Critical

Materials

NV

.......

520,558

59,139

ASM

International

NV

..........

28,138,846

54,715

ASR

Nederland

NV

.............

2,483,971

12,480

BE

Semiconductor

Industries

NV

..

1,490,869

48,443

Brunel

International

NV

.........

674,311

200,130

Eurocommercial

Properties

NV

REIT

5,060,988

10,620

ForFarmers

NV

................

33,337

187,057

Heijmans

NV

.................

2,587,318

90,824

IMCD

NV

...................

13,775,823

42,190

JDE

Peet's

NV

................

1,272,884

697,062

Koninklijke

BAM

Groep

NV

......

1,621,744

16,000

Koninklijke

Vopak

NV

..........

602,878

266

Nedap

NV

...................

17,782

26,710

OCI

NV

.....................

760,035

81,830

Randstad

NV

.................

4,793,713

114,574

TKH

Group

NV

...............

5,978,731

548,334

TomTom

NV(a)

...............

4,789,987

43,614

Van

Lanschot

Kempen

NV

.......

1,429,017

31,077

Vastned

Retail

NV

REIT

.........

693,634

136,783

Wereldhave

NV

REIT

...........

2,443,885

79,170,311

NEW

ZEALAND

—

0.2%

1,049,412

Air

New

Zealand

Ltd.(a)

.........

514,914

32,809

Bathurst

Resources

Ltd.(a)

........

22,038

33,913

Channel

Infrastructure

NZ

Ltd.

....

34,544

374,030

Goodman

Property

Trust

REIT

....

525,020

113,794

SKY

Network

Television

Ltd.

......

176,693

1,336,155

Spark

New

Zealand

Ltd.

.........

4,298,809

124,701

Xero

Ltd.(a)

..................

10,236,513

15,808,531

NORWAY

—

0.5%

279,567

ABG

Sundal

Collier

Holding

ASA

..

155,023

187,619

Aker

BP

ASA

..................

5,244,420

64,592

Atea

ASA

....................

876,943

51,474

Awilco

LNG

AS

...............

45,455

60,711

B2Holding

ASA

...............

41,931

Old

Westbury

Funds,

Inc.

Small

&

Mid

Cap

Strategies

Fund

Portfolio

of

Investments

-

(Continued)

16

July

31,

2023

(Unaudited)

Shares

Value

NORWAY

(continued)

572,148

Belships

ASA

..................

$

1,021,789

30,307

Bouvet

ASA

..................

186,297

6,275,900

DNO

ASA

...................

6,817,693

156,880

Elkem

ASA(c)(d)

...............

372,114

36,575

FLEX

LNG

Ltd.

...............

1,159,135

197,710

Gjensidige

Forsikring

ASA

........

3,125,110

56,905

Grieg

Seafood

ASA

.............

410,152

607,267

Hoegh

Autoliners

ASA

...........

3,514,162

122,595

Kitron

ASA

...................

453,000

73,900

Kongsberg

Gruppen

ASA

.........

3,203,897

1,727

Medistim

ASA

.................

44,304

1,361,256

MPC

Container

Ships

ASA

.......

2,542,521

5,111

NORBIT

ASA

................

28,442

428,690

Norsk

Hydro

ASA

..............

2,808,572

816,742

Norwegian

Air

Shuttle

ASA(a)

.....

817,141

29,632

Odfjell

Drilling

Ltd.(a)

..........

83,911

1,194

Odfjell

SE

-

Class

A

.............

10,909

214,555

Orkla

ASA

...................

1,695,262

5,100

Pareto

Bank

ASA

...............

27,072

48,216

Protector

Forsikring

ASA

.........

789,720

54,728

Rana

Gruber

ASA

..............

313,193

37,495

Salmar

ASA

...................

1,732,493

2,897

SpareBank

1

Nord

Norge

.........

27,584

91

Sparebank

1

Oestlandet

..........

1,144

4,705

Sparebanken

More

..............

35,514

217,879

TGS

ASA

....................

2,904,322

67,324

Veidekke

ASA

.................

759,924

746,443

Wallenius

Wilhelmsen

ASA

.......

5,184,936

8,665

Western

Bulk

Chartering

AS

......

26,803

2,055

Wilh

Wilhelmsen

Holding

ASA

-

Class

A

......................

56,165

46,517,053

PERU

—

0.1%

831,900

Cia

de

Minas

Buenaventura

SAA

-

ADR

....................

6,422,268

POLAND

—

0.3%

1,057,341

Allegro.eu

SA(a)(c)(d)

...........

9,323,152

167,054

KGHM

Polska

Miedz

SA

.........

5,173,454

3,245,409

Orange

Polska

SA

..............

5,972,852

2,776,297

PGE

Polska

Grupa

Energetyczna

SA(a)

5,906,558

3,514,671

Tauron

Polska

Energia

SA(a)

......

3,266,666

29,642,682

PORTUGAL

—

0.1%

3,621

Ibersol

SGPS

SA

...............

27,630

198,080

Jeronimo

Martins

SGPS

SA

.......

5,392,455

50,822

Mota-Engil

SGPS

SA

............

139,697

258,125

NOS

SGPS

SA

................

980,842

1,578,089

Sonae

SGPS

SA

................

1,715,155

8,255,779

RUSSIA

—

0.0%

3,531,360

Alrosa

PJSC(a)(b)(e)

............

0

Shares

Value

RUSSIA

(continued)

1,189,126,065

Federal

Grid

Co.

-

Rosseti

PJSC(a)(b)

(e)

......................

$

0

4,480,742

Gazprom

PJSC(a)(b)(e)

..........

0

1,073,095

Gazprom

PJSC

-

ADR(a)(b)(e)

....

0

112,793

Magnit

PJSC(b)(e)

.............

0

532,967

Mobile

TeleSystems

PJSC(b)(e)

....

0

217,810,135

ROSSETI

PJSC(a)(b)(e)

.........

0

1,641,600

Rostelecom

PJSC(b)(e)

..........

0

461,432,194

RusHydro

PJSC(b)(e)

...........

0

13,369,855

Surgutneftegas

PJSC(b)(e)

........

0

243,969

VK

Co.

Ltd.

-

GDR(a)(b)(c)(e)

....

0

0

SINGAPORE

—

0.5%

96,600

AIMS

APAC

REIT

.............

90,807

94,500

APAC

Realty

Ltd.

..............

43,350

296

BW

Energy

Ltd.(a)

.............

876

1,038,000

CapitaLand

Integrated

Commercial

Trust

REIT

...............

1,592,420

325,300

CDL

Hospitality

Trusts

REIT

.....

291,113

2,303,040

ComfortDelGro

Corp.

Ltd.

.......

2,182,238

39,200

Cromwell

European

Real

Estate

Investment

Trust

REIT(c)

....

69,392

271,700

CSE

Global

Ltd.

...............

98,076

72,100

Delfi

Ltd.

....................

65,607

863,100

Dyna-Mac

Holdings

Ltd.

.........

269,364

315,400

Far

East

Hospitality

Trust

REIT

....

152,986

22,500

First

Resources

Ltd.

.............

25,550

2,118,500

Frasers

Logistics

&

Commercial

Trust

REIT(c)

.................

1,943,651

3,413,500

Genting

Singapore

Ltd.

..........

2,413,002

3,296,300

Geo

Energy

Resources

Ltd.

.......

545,355

9,772,300

Golden

Agri-Resources

Ltd.

.......

1,837,244

232,182

Hafnia

Ltd.

...................

1,263,421

34

Ho

Bee

Land

Ltd.

..............

50

305,000

Hour

Glass

Ltd.

(The)

...........

477,082

56

Hyphens

Pharma

International

Ltd.

.

13

793,729

IGG,

Inc.(a)

..................

403,027

263,700

InnoTek

Ltd.

..................

84,777

98,400

IREIT

Global

REIT

............

32,189

94,300

ISDN

Holdings

Ltd.

............

31,203

119,100

Keppel

Pacific

Oak

US

REIT(c)

....

39,303

152,800

Kimly

Ltd.

...................

38,494

988,600

Lendlease

Global

Commercial

REIT

505,545

194,900

LHN

Ltd.

....................

56,429

1,500,000

Manulife

US

Real

Estate

Investment

Trust

REIT(c)

.............

157,500

993,800

Mapletree

Pan

Asia

Commercial

Trust

REIT

...................

1,233,142

2,500,700

Marco

Polo

Marine

Ltd.(a)

.......

99,671

577,400

Propnex

Ltd.(c)

................

442,901

81,500

PSC

Corp.

Ltd.

................

20,226

4,636,995

Raffles

Medical

Group

Ltd.

.......

4,881,965

Old

Westbury

Funds,

Inc.

Small

&

Mid

Cap

Strategies

Fund

Portfolio

of

Investments

-

(Continued)

17

July

31,

2023

(Unaudited)

Shares

Value

SINGAPORE

(continued)

304,400

RHT

Health

Trust

REIT(a)(b)(e)

...

$

4,349

5,331,900

Riverstone

Holdings

Ltd.

.........

2,506,063

973,076

Samudera

Shipping

Line

Ltd.

......

611,031

3,889,100

Sembcorp

Industries

Ltd.

.........

15,939,534

2,156,910

Sheng

Siong

Group

Ltd.

.........

2,660,148

205,400

Silverlake

Axis

Ltd.

.............

44,795

243,500

Singapore

Exchange

Ltd.

.........

1,778,067

1,200,800

Starhill

Global

REIT

............

465,059

37,000

Wing

Tai

Holdings

Ltd.

..........

39,789

796,200

Yangzijiang

Financial

Holding

Ltd.

..

197,590

368,800

Yanlord

Land

Group

Ltd.(a)

.......

224,650

45,859,044

SOUTH

AFRICA

—

0.3%

492,892

Aspen

Pharmacare

Holdings

Ltd.

...

5,285,902

1,695,683

Harmony

Gold

Mining

Co.

Ltd.

-

ADR

....................

7,274,480

659,786

Remgro

Ltd.

..................

5,931,664

2,317,633

Sappi

Ltd.

....................

4,989,383

420,358

SPAR

Group

Ltd.

(The)

..........

2,536,897

26,018,326

SOUTH

KOREA

—

1.2%

41,853

Green

Cross

Corp.

..............

3,651,240

231,729

GS

Engineering

&

Construction

Corp.

2,656,071

142,169

Hankook

Tire

&

Technology

Co.

Ltd.

4,316,432

96,465

HD

Korea

Shipbuilding

&

Offshore

Engineering

Co.

Ltd.(a)

......

9,331,294

79,860

Hyundai

Department

Store

Co.

Ltd.

3,470,948

157,352

Hyundai

Engineering

&

Construction

Co.

Ltd.

.................

4,616,926

113,903

KB

Financial

Group,

Inc.

.........

4,557,371

107,178

Kia

Corp.

....................

6,953,768

59,776

LG

Electronics,

Inc.

.............

5,083,528

39,897

Lotte

Chemical

Corp.

...........

4,713,834

20,191

OCI

Co.

Ltd.(a)

...............

2,157,466

44,560

OCI

Holdings

Co.

Ltd.(b)

........

3,824,473

453,924

Samsung

Engineering

Co.

Ltd.(a)

...

13,176,313

1,526,253

Samsung

Heavy

Industries

Co.

Ltd.(a)

10,812,431

93,185

Samsung

Life

Insurance

Co.

Ltd.

...

5,102,823

45,028

Samsung

SDS

Co.

Ltd.

..........

4,532,297

179,610

Shinhan

Financial

Group

Co.

Ltd.

..

4,938,870

826,907

SK

Networks

Co.

Ltd.

...........

3,885,908

97,781,993

SPAIN

—

0.4%

103,653

Acerinox

SA

..................

1,090,887

98,065

ACS

Actividades

de

Construccion

y

Servicios

SA

...............

3,427,676

518,616

Almirall

SA

...................

4,978,006

85,681

Applus

Services

SA

.............

919,453

151,887

Atresmedia

Corp.

de

Medios

de

Comunicacion

SA

..........

629,255

2,740,054

Banco

de

Sabadell

SA

............

3,371,199

Shares

Value

SPAIN

(continued)

98,480

Bankinter

SA

..................

$

636,463

188,891

Cia

de

Distribucion

Integral

Logista

Holdings

SA

..............

5,258,601

79,480

CIE

Automotive

SA

.............

2,488,818

5,686

Elecnor

SA

...................

87,212

184,825

Ence

Energia

y

Celulosa

SA

.......

562,499

25,690

Energia

Innovacion

y

Desarrollo

Fotovoltaico

SA(a)(e)

........

840,606

61,269

Ercros

SA

....................

215,569

457,390

Faes

Farma

SA

.................

1,584,136

204,717

Indra

Sistemas

SA

..............

2,975,641

12,370

Laboratorios

Farmaceuticos

Rovi

SA

.

593,812

36,162

Lar

Espana

Real

Estate

Socimi

SA

REIT

...................

234,187

1,076,360

Mapfre

SA

....................

2,237,919

151,108

Melia

Hotels

International

SA(a)

...

1,109,837

386,850

Merlin

Properties

Socimi

SA

REIT

..

3,602,643

10,090

Pharma

Mar

SA

................

379,635

8,416

Realia

Business

SA

..............

9,392

37,233,446

SWEDEN

—

1.0%

392,859

AAK

AB

.....................

7,546,368

16,940

Alfa

Laval

AB

.................

633,898

621,397

Alleima

AB

...................

2,697,183

51

Alligo

AB

-

Class

B

.............

551

2,299

AQ

Group

AB

.................

97,736

38,270

Arise

AB

.....................

153,423

113,650

Axfood

AB

...................

2,895,665

7,329

B3

Consulting

Group

AB

........

71,574

10,783

Bahnhof

AB

-

Class

B(e)

.........

42,870

463,923

Betsson

AB

-

Class

B

............

5,611,289

94,258

BioGaia

AB

-

Class

B

............

934,843

5,994

Bjorn

Borg

AB

................

23,119

22,615

Bufab

AB

....................

661,710

8,035

Bulten

AB

....................

61,371

87,066

Camurus

AB(a)

................

2,461,510

82

Clas

Ohlson

AB

-

Class

B

........

668

2,578

Dedicare

AB

-

Class

B

...........

23,266

7,290

Doro

AB(a)

...................

11,358

4,254

Elanders

AB

-

Class

B

...........

40,736

15,525

Electrolux

Professional

AB

-

Class

B

.

87,459

165,530

Elekta

AB

-

Class

B

.............

1,340,733

8,104

Ependion

AB

.................

113,941

44,259

Fagerhult

Group

AB

............

226,206

1,673,524

Fortnox

AB

...................

10,276,694

13,590

Granges

AB

...................

138,787

32,583

Hanza

AB

....................

262,796

367,140

Hexpol

AB

...................

3,986,558

9,200

HMS

Networks

AB

.............

371,622

28,595

Instalco

AB(c)

.................

112,463

129,133

Inwido

AB

...................

1,423,034

47,013

Lagercrantz

Group

AB

-

Class

B

....

565,868

Old

Westbury

Funds,

Inc.

Small

&

Mid

Cap

Strategies

Fund

Portfolio

of

Investments

-

(Continued)

18

July

31,

2023

(Unaudited)

Shares

Value

SWEDEN

(continued)

44,841

Lindab

International

AB

.........

$

695,209

185,287

Loomis

AB

...................

5,400,332

47,781

MEKO

AB

...................

498,854

51

Momentum

Group

AB

..........

518

88,724

Mycronic

AB

..................

1,908,261

14,804

NCAB

Group

AB

..............

88,531

24,188

NCC

AB

-

Class

B

.............

260,575

79

Nederman

Holding

AB

..........

1,546

820,631

Net

Insight

AB

-

Class

B(a)

.......

352,064

7,020

OEM

International

AB

-

Class

B

...

56,886

61,375

Paradox

Interactive

AB

...........

1,762,001

6,843

Prevas

AB

-

Class

B

.............

75,669

19,329

Proact

IT

Group

AB

............

142,492

254

QleanAir

AB(a)

................

619

18,644

Rottneros

AB

.................

19,306

4,914

Rvrc

Holding

AB

...............

15,872

162,217

Sectra

AB

-

Class

B

.............

2,598,209

24,081

Softronic

AB

-

Class

B

...........

34,727

10,855

Solid

Forsakring

AB

.............

66,101

280,375

SSAB

AB

-

Class

A

.............

1,778,713

430,693

SSAB

AB

-

Class

B

.............

2,632,504

574,050

Stillfront

Group

AB(a)

...........

1,061,783

20,446

Sweco

AB

-

Class

B

.............

210,551

884,700

Swedish

Orphan

Biovitrum

AB(a)

..

17,313,441

28,363

Systemair

AB

..................

201,276

80,550

Tobii

AB(a)

...................

148,070

169,000

Trelleborg

AB

-

Class

B

..........

4,500,181

14,519

Troax

Group

AB

...............

261,514

2,071

VBG

Group

AB

-

Class

B

........

38,680

2,501

W5

Solutions

AB(a)

............

20,837

2,348

Xvivo

Perfusion

AB(a)

...........

71,156

85,091,777

SWITZERLAND

—

2.1%

18,634

Accelleron

Industries

AG

.........

489,328

296,494

Alcon,

Inc.

...................

25,173,345

757

APG

SGA

SA

.................

157,121

794,711

Aryzta

AG(a)

..................

1,356,946

95,888

Ascom

Holding

AG

.............

1,312,887

76,686

Baloise

Holding

AG

.............

11,853,991

20,270

Banque

Cantonale

Vaudoise

.......

2,273,271

6,147

Barry

Callebaut

AG

.............

11,510,866

34,404

Basilea

Pharmaceutica

AG(a)

......

1,729,964

25,441

Belimo

Holding

AG

............

13,688,340

14,325

BKW

AG

....................

2,564,225

15,749

Bucher

Industries

AG

...........

7,007,181

23,471

Burckhardt

Compression

Holding

AG

13,807,262

606

Burkhalter

Holding

AG

..........

64,766

1,794

Calida

Holding

AG

.............

74,060

8,830

Cembra

Money

Bank

AG

........

668,287

1,562

Coltene

Holding

AG

............

126,099

24,824

Comet

Holding

AG

.............

6,518,773

11,280

DKSH

Holding

AG

............

908,686

Shares

Value

SWITZERLAND

(continued)

12,045

dormakaba

Holding

AG

.........

$

5,863,313

73,564

DSM-Firmenich

AG

............

8,128,804

5,105

EMS-Chemie

Holding

AG

.......

4,250,020

1,737,129

Ferrexpo

Plc

..................

2,046,538

2,659

Flughafen

Zurich

AG

...........

561,956

151

Forbo

Holding

AG

.............

217,483

47,465

Galenica

AG(c)(d)

..............

3,815,488

140,797

Georg

Fischer

AG

..............

9,598,511

73,251

Huber

+

Suhner

AG

............

6,316,697

25,378

Implenia

AG

..................

1,235,360

52

Ina

Invest

Holding

AG(a)

........

1,029

3,486

Inficon

Holding

AG

............

4,461,185

1,240

Investis

Holding

SA(c)

...........

132,809

870

Jungfraubahn

Holding

AG

........

153,638

7,642

Komax

Holding

AG

............

1,875,337

8,388

Kudelski

SA(a)

................

16,929

21,389

Landis+Gyr

Group

AG

..........

1,849,356

45

LEM

Holding

SA

..............

108,365

3,415

Meier

Tobler

Group

AG

..........

186,992

69

Metall

Zug

AG

-

Class

B

.........

125,016

107,867

Mobilezone

Holding

AG

.........

1,791,083

9,606

Molecular

Partners

AG(a)

........

60,475

19

Orell

Fuessli

AG

...............

1,586

99

Phoenix

Mecano

AG(a)

..........

40,075

17,810

PSP

Swiss

Property

AG

..........

2,099,499

38,604

SFS

Group

AG

................

4,577,322

2,602

Siegfried

Holding

AG

...........

2,296,014

28,785

Stadler

Rail

AG

................

1,157,275

9,375

Swatch

Group

AG

(The)

.........

2,992,948

39,975

Swatch

Group

AG

(The)

.........

2,397,446

23,980

Swiss

Prime

Site

AG

............

2,320,867

10,930

Tecan

Group

AG

...............

4,341,668

19,950

u-blox

Holding

AG

.............

2,232,808

55

Vaudoise

Assurances

Holding

SA

...

28,760

3,975

Vetropack

Holding

AG

..........

199,878

2,993

Ypsomed

Holding

AG

...........

878,629

20,405

Zehnder

Group

AG

.............

1,495,189

181,141,746

TAIWAN

—

0.8%

6,927,000

Acer,

Inc.

....................

7,714,667

2,076,000

ASE

Technology

Holding

Co.

Ltd.

..

7,563,744

2,795,018

Cheng

Shin

Rubber

Industry

Co.

Ltd.

3,419,676

10,290,432

China

Petrochemical

Development

Corp.(a)

.................

3,074,703

2,645,000

Ennostar,

Inc.(a)

...............

4,161,941

528,000

Hiwin

Technologies

Corp.

........

3,545,034

1,857,000

Hon

Hai

Precision

Industry

Co.

Ltd.

6,411,293

2,581,000

HTC

Corp.(a)

.................

4,582,750

3,024,431

International

CSRC

Investment

Holdings

Co.

..............

2,001,755

1,972,000

Pegatron

Corp.

................

4,794,069

421,000

Phison

Electronics

Corp.

.........

5,479,102

Old

Westbury

Funds,

Inc.

Small

&

Mid

Cap

Strategies

Fund

Portfolio

of

Investments

-

(Continued)

19

July

31,

2023

(Unaudited)

Shares

Value

TAIWAN

(continued)

7,586,000

Qisda

Corp.

..................

$

12,009,085

64,757,819

THAILAND

—

0.3%

138,820

Fabrinet(a)

...................

17,163,705

3,799,258

PTT

Global

Chemical

Public

Co.

Ltd.

-

FOR

...................

4,384,346

457,032

Siam

Cement

Public

Co.

Ltd.

(The)

-

FOR

....................

4,339,492

25,887,543

TURKEY

—

0.2%

1,326,150

Anadolu

Efes

Biracilik

Ve

Malt

Sanayii

AS

......................

4,432,354

0

Petkim

Petrokimya

Holding

AS(a)

..

0

1,841,615

Tekfen

Holding

AS

.............

3,063,577

3,405,002

Turkcell

Iletisim

Hizmetleri

AS

....

6,533,803

1

Turkiye

Is

Bankasi

AS

-

Class

C

....

0

14,029,734

UNITED

KINGDOM

—

5.8%

111,215

3i

Group

Plc

..................

2,821,728

30,556

4imprint

Group

Plc

.............

1,739,143

300,000

Abcam

Plc

-

ADR(a)

............

7,032,000

237,505

abrdn

Plc

....................

706,836

13,299

accesso

Technology

Group

Plc(a)

...

128,517

2,399,018

Adaptimmune

Therapeutics

Plc

-

ADR(a)

..................

2,260,115

141,840

Advanced

Medical

Solutions

Group

Plc

.....................

452,345

55,291

AG

Barr

Plc

...................

334,566

537,550

Airtel

Africa

Plc(c)(d)

............

804,382

184,646

AJ

Bell

Plc

....................

776,773

4,580,715

Alphawave

IP

Group

Plc(a)

.......

9,476,401

103,268

Ashmore

Group

Plc

.............

273,540

7,363

Ashtead

Technology

Holdings

Plc

...

36,947

4,480,720

Assura

Plc

REIT

...............

2,723,357

29,321

B&M

European

Value

Retail

SA

...

208,164

3,060,558

Balfour

Beatty

Plc

..............

13,723,618

92,260

Bank

of

Georgia

Group

Plc

.......

3,853,981

103,525

Barratt

Developments

Plc

........

606,766

43,702

Bellway

Plc

...................

1,242,843

5,893

Big

Technologies

Plc(a)

..........

19,890

49,867

Big

Yellow

Group

Plc

REIT

.......

686,686

27,727

Bloomsbury

Publishing

Plc

.......

153,720

3,433,204

boohoo

Group

Plc(a)

............

1,715,257

3,989

Braemar

Plc(b)(e)

..............

11,928

359,611

Breedon

Group

Plc

.............

1,679,885

724,051

Britvic

Plc

....................

8,028,382

2,309

Brooks

Macdonald

Group

Plc

.....

62,525

131,149

Bytes

Technology

Group

Plc

......

868,480

95,542

Capricorn

Energy

Plc

............

217,272

213,777

Card

Factory

Plc(a)

.............

246,641

403,015

Centrica

Plc

..................

714,007

Shares

Value

UNITED

KINGDOM

(continued)

828,602

Ceres

Power

Holdings

Plc(a)

......

$

3,877,107

10,247

Cerillion

Plc

..................

170,956

597,857

Chemring

Group

Plc

............

2,175,181

28,390

Chesnara

Plc

..................

98,373

45,203

Clarkson

Plc

..................

1,618,514

251,030

Close

Brothers

Group

Plc

.........

2,960,644

121,621

CLS

Holdings

Plc

REIT

.........

218,203

54,027

Computacenter

Plc

.............

1,521,222

27,545

Concentric

AB

................

491,950

8,818,874

ConvaTec

Group

Plc(c)(d)

........

23,608,726

1,629

Costain

Group

Plc(a)

............

1,043

94,149

Cranswick

Plc

.................

4,030,759

367,363

Crest

Nicholson

Holdings

Plc

.....

1,006,086

43,616

Croda

International

Plc

..........

3,296,904

143

DFS

Furniture

Plc

..............

221

24,849

DiscoverIE

Group

Plc

...........

255,439

213,961

dotdigital

group

Plc

.............

253,444

2,117,153

Dowlais

Group

Plc(a)

...........

3,340,611

195,950

Drax

Group

Plc

................

1,520,905

744,768

DS

Smith

Plc

.................

2,959,151

245,685

Dunelm

Group

Plc

.............

3,625,948

100,315

easyJet

Plc(a)

..................

582,288

1,978

Eco

Animal

Health

Group

Plc(a)

...

2,805

84,100

Ecora

Resources

Plc

.............

123,256

213,727

EnQuest

Plc(a)

................

48,850

1,306

Epwin

Group

Plc

...............

1,148

38,617

Ergomed

Plc(a)

................

538,212

216,909

FDM

Group

Holdings

Plc

........

1,519,901

2,324,325

Firstgroup

Plc

.................

4,364,016

13,542

Foresight

Group

Holdings

Ltd.

....

83,420

23,420

Frasers

Group

Plc(a)

............

244,356

17,922

Frontier

Developments

Plc(a)

......

135,011

30,714

Galliford

Try

Holdings

Plc

........

78,045

72,421

Games

Workshop

Group

Plc

......

10,827,684

244,012

Gamma

Communications

Plc

.....

3,469,733

55,656

Genel

Energy

Plc

...............

74,426

228,197

Genus

Plc

....................

7,204,273

172,378

Greggs

Plc

....................

6,110,132

991,418

Gulf

Keystone

Petroleum

Ltd.

.....

1,581,514

5,779

H&T

Group

Plc

...............

32,039

67,717

Halfords

Group

Plc

.............

192,233

22,413

Hargreaves

Services

Plc

..........

127,423

1,027

Headlam

Group

Plc

.............

2,939

27,215

Helical

Plc

REIT

...............

93,952

66,828

Hill

&

Smith

Plc

...............

1,353,351

73,883

Hollywood

Bowl

Group

Plc

.......

212,866

1,829,803

Howden

Joinery

Group

Plc

.......

17,306,807

201,832

Hunting

Plc

..................

683,816

260,855

IG

Group

Holdings

Plc

..........

2,370,159

389,428

IMI

Plc

......................

8,141,293

19,656

Immunocore

Holdings

Plc

-

ADR(a)

1,296,903

34,931

Impax

Asset

Management

Group

Plc

246,110

69,391

Indivior

Plc(a)

.................

1,561,098

Old

Westbury

Funds,

Inc.

Small

&

Mid

Cap

Strategies

Fund

Portfolio

of

Investments

-

(Continued)

20

July

31,

2023

(Unaudited)

Shares

Value

UNITED

KINGDOM

(continued)

2,308,895

ITM

Power

Plc(a)

..............

$

2,743,257

34,124

J

D

Wetherspoon

Plc(a)

..........

296,041

5,002,590

JD

Sports

Fashion

Plc

...........

10,124,457

1,759,999

JET2

Plc

.....................

25,387,729

561,388

Johnson

Service

Group

Plc

........

809,794

76,335

Jupiter

Fund

Management

Plc

.....

111,973

899,452

Just

Group

Plc

.................

949,999

527,944

Kainos

Group

Plc

..............

8,875,734

79,096

Keller

Group

Plc

...............

868,907

146,893

Kier

Group

Plc(a)

..............

165,516

7,864

Kitwave

Group

Plc

.............

32,396

28,648

Macfarlane

Group

Plc

...........

40,442

2,636,263

Man

Group

Plc

................

8,079,197

3,688,903

Marks

&

Spencer

Group

Plc(a)

....

9,766,559

110,944

Marston's

Plc(a)

...............

44,850

19,263

ME

Group

International

Plc

......

38,614

47,246

Mears

Group

Plc

...............

165,832

2,429,481

Mitie

Group

Plc

...............

3,173,996

467,334

Moneysupermarket.com

Group

Plc

.

1,645,722

24,400

Morgan

Sindall

Group

Plc

........

597,466

56,895

Next

Plc

.....................

5,146,182

307,405

Ninety

One

Plc

................

680,132

484

Norcros

Plc

...................

1,009

3,416,949

Ocado

Group

Plc(a)

............

41,150,168

827

Odfjell

Technology

Ltd.

..........

4,210

160,017

OSB

Group

Plc

................

754,074

27,254

Oxford

Biomedica

Plc(a)

.........

154,596

40,534

Oxford

Instruments

Plc

..........

1,248,463

96,831

Oxford

Metrics

Plc

.............

127,996

7,834,721

Oxford

Nanopore

Technologies

Plc(a)

26,524,270

234,341

Pagegroup

Plc

.................

1,341,307

772,654

Pan

African

Resources

Plc

........

143,185

203,024

Paragon

Banking

Group

Plc

.......

1,375,708

5,827

Patisserie

Holdings

Plc(a)(b)

.......

0

120,160

Pearson

Plc

...................

1,333,277

138,251

Pharos

Energy

Plc

..............

42,937

166,102

Polar

Capital

Holdings

Plc

........

1,033,860

2,125,800

Primary

Health

Properties

Plc

REIT

.

2,578,097

55,288

PRS

REIT

Plc

(The)

............

58,466

911,728

QinetiQ

Group

Plc

.............

3,772,293

2,432,980

Quilter

Plc(c)(d)

...............

2,438,567

66,119

Redde

Northgate

Plc

............

291,897

59,179

Redrow

Plc

...................

392,648

9,917

Renew

Holdings

Plc

............

92,907

190,682

Renishaw

Plc

..................

9,543,758

2,798

Ricardo

Plc

...................

21,042

1,014,869

Rightmove

Plc

.................

7,429,073

805

Robert

Walters

Plc

..............

4,256

4,219,518

Rotork

Plc

....................

16,700,225

449,027

RS

GROUP

Plc

................

4,521,327

434,000

RWS

Holdings

Plc

..............

1,445,904

360,159

Safestore

Holdings

Plc

REIT

......

4,095,181

35,836

Sanderson

Design

Group

Plc

......

46,910

Shares

Value

UNITED

KINGDOM

(continued)

303,855

Serco

Group

Plc

...............

$

605,596

548,366

Serica

Energy

Plc

...............

1,683,359

611,482

SIG

Plc(a)

....................

227,184

114,608

SigmaRoc

Plc(a)

...............

87,661

623,286

Smiths

Group

Plc

..............

13,590,201

36,944

Smiths

News

Plc

...............

21,098

246,305

Softcat

Plc

....................

4,741,433

30,957

Spectris

Plc

...................

1,394,873

364,112

Speedy

Hire

Plc

................

171,960

81,923

Spirax-Sarco

Engineering

Plc

......

11,696,367

1,326,473

Spirent

Communications

Plc

......

2,878,639

22,392

SSP

Group

Plc(a)

..............

72,302

743,605

St.

James's

Place

Plc

.............

8,970,471

835,005

Standard

Chartered

Plc

..........

8,009,166

131,893

SThree

Plc

....................

596,659

74,487

Stolt-Nielsen

Ltd.

..............

1,841,036

558,108

Subsea

7

SA

..................

7,491,881

828,795

Taylor

Wimpey

Plc

.............

1,216,266

105,683

Telecom

Plus

Plc

...............

2,256,855

167,706

TORM

Plc

-

Class

A

............

4,127,447

2,560,371

Trainline

Plc(a)(c)(d)

............

8,654,934

2,588,046

UK

Commercial

Property

REIT

Ltd.

1,737,076

8,223

UNITE

Group

Plc

(The)

REIT

....

102,733

2,730

Verici

Dx

Plc(a)

................

368

60,862

Vertu

Motors

Plc

...............

54,675

137,553

Vesuvius

Plc

..................

780,257

9,667

VH

Global

Sustainable

Energy

Opportunities

Plc

..........

10,669

184,651

Victrex

Plc

...................

3,658,846

1,167,474

Virgin

Money

UK

Plc

-

CDI

......

2,697,621

378,420

Vistry

Group

Plc

...............

3,834,170

44,217

Weir

Group

Plc

(The)

...........

1,041,287

13,441

XPS

Pensions

Group

Plc(c)

.......

33,033

19,825

YouGov

Plc

...................

246,791

494,193,461

UNITED

STATES

—

39.9%

249,712

A.O.

Smith

Corp.

..............

18,136,583

133,125

Academy

Sports

&

Outdoors,

Inc.

..

7,959,544

178,535

AeroVironment,

Inc.(a)

..........

17,007,244

173,344

Agilysys,

Inc.(a)

................

12,763,319

35,382

Akero

Therapeutics,

Inc.(a)

.......

1,535,579

180,000

Albany

International

Corp.

-

Class

A

17,330,400

316,612

Alnylam

Pharmaceuticals,

Inc.(a)

...

61,865,985

132,077

Ambarella,

Inc.(a)

..............

11,017,863

77,615

American

States

Water

Co.

........

6,861,942

125,130

AMERISAFE,

Inc.

.............

6,521,776

91,100

Amphastar

Pharmaceuticals,

Inc.(a)

.

5,528,859

421,315

Appian

Corp.

-

Class

A(a)

........

21,706,149

102,205

Applied

Industrial

Technologies,

Inc.

14,818,703

661,270

Asana,

Inc.

-

Class

A(a)

..........

16,055,636

46,345

Atkore,

Inc.(a)

.................

7,353,561

400,000

AtriCure,

Inc.(a)

...............

22,140,000

Old

Westbury

Funds,

Inc.

Small

&

Mid

Cap

Strategies

Fund

Portfolio

of

Investments

-

(Continued)

21

July

31,

2023

(Unaudited)

Shares

Value

UNITED

STATES

(continued)

1,424,712

Avantor,

Inc.(a)

................

$

29,306,326

324,952

Avidity

Biosciences,

Inc.(a)

........

3,090,294

157,447

Axon

Enterprise,

Inc.(a)

..........

29,274,121

481,960

Axonics,

Inc.(a)

................

29,095,925

173,855

AZEK

Co.,

Inc.

(The)(a)

.........

5,424,276

130,000

BancFirst

Corp.

................

12,987,000

280,000

Barnes

Group,

Inc.

.............

11,004,000

212,067

Beam

Therapeutics,

Inc.(a)

........

6,546,508

181,870

Berry

Global

Group,

Inc.

.........

11,925,216

716,674

BJ's

Wholesale

Club

Holdings,

Inc.(a)

47,522,653

224,662

BlackLine,

Inc.(a)

..............

13,048,369

189,400

Booz

Allen

Hamilton

Holding

Corp.

22,932,552

800,000

Box,

Inc.

-

Class

A(a)

............

25,000,000

116,775

Bright

Horizons

Family

Solutions,

Inc.

(a)

......................

11,330,678

735,875

BRP

Group,

Inc.

-

Class

A(a)

......

18,330,646

105,554

Burlington

Stores,

Inc.(a)

.........

18,748,501

147,640

Cactus,

Inc.

-

Class

A

............

7,497,159

79,036

Calix,

Inc.(a)

..................

3,565,314

383,106

Cardlytics,

Inc.(a)

..............

4,470,847

155,881

Carlisle

Cos.,

Inc.

..............

43,210,213

259,670

CBIZ,

Inc.(a)

.................

13,733,946

170,027

CDW

Corp.

..................

31,806,951

385,000

Central

Garden

&

Pet

Co.

-

Class

A(a)

14,714,700

839,669

ChampionX

Corp.

.............

29,892,216

19,548

Chart

Industries,

Inc.(a)

..........

3,560,864

588,435

Chegg,

Inc.(a)

.................

5,960,847

106,525

Civitas

Resources,

Inc.

...........

7,974,461

197,050

Clean

Harbors,

Inc.(a)

...........

32,761,533

1,226,820

Codexis,

Inc.(a)

................

4,416,552

56,275

Comfort

Systems

USA,

Inc.

.......

9,790,162

166,575

Commercial

Metals

Co.

..........

9,531,421

225,000

Community

Bank

System,

Inc.

....

12,111,750

210,000

CONMED

Corp.

..............

25,420,500

108,734

Cooper

Cos.,

Inc.

(The)

..........

42,543,265

125,600

Crane

Co.

....................

11,767,464

141,625

Crane

NXT

Co.

...............

8,377,119

125,000

CSW

Industrials,

Inc.

...........

22,568,750

35,365

Curtiss-Wright

Corp.

............

6,767,446

574,610

Cushman

&

Wakefield

Plc(a)

......

5,648,416

328,330

CVB

Financial

Corp.

............

6,195,587

15,247

Deckers

Outdoor

Corp.(a)

........

8,289,641

142,150

Delek

US

Holdings,

Inc.

.........

3,921,918

194,852

Digimarc

Corp.(a)

..............

5,767,619

88,875

Diodes,

Inc.(a)

................

8,397,799

262,835

Doximity,

Inc.

-

Class

A(a)

........

9,391,095

597,510

Element

Solutions,

Inc.

..........

12,523,810

84,625

elf

Beauty,

Inc.(a)

..............

9,877,430

62,100

Ensign

Group,

Inc.

(The)

.........

6,015,627

126,170

Envestnet,

Inc.(a)

..............

7,820,017

180,158

Envista

Holdings

Corp.(a)

........

6,199,237

168,997

Equifax,

Inc.

..................

34,488,908

265,000

ESCO

Technologies,

Inc.

.........

26,645,750

Shares

Value

UNITED

STATES

(continued)

228,215

Essent

Group

Ltd.

..............

$

11,319,464

675,000

European

Wax

Center,

Inc.

-

Class

A(a)

....................

13,074,750

138,249

Everbridge,

Inc.(a)

..............

4,263,599

181,319

EverQuote,

Inc.

-

Class

A(a)

.......

1,283,739

360,434

Exact

Sciences

Corp.(a)

..........

35,156,732

76,965

ExlService

Holdings,

Inc.(a)

.......

10,848,217

283,294

Expedia

Group,

Inc.(a)

..........

34,712,014

144,700

First

Bancorp/Southern

Pines

NC

..

4,786,676

450,000

First

Financial

Bankshares,

Inc.

....

14,665,500

103,175

FirstCash

Holdings,

Inc.

.........

9,830,514

161,740

FormFactor,

Inc.(a)

.............

6,010,258

48,265

Fox

Factory

Holding

Corp.(a)

.....

5,400,854

665,000

Fresh

Market

Escrow,

Inc.(a)(b)

....

0

250,000

Freshpet,

Inc.(a)

...............

18,385,000

1,255,000

Freshworks,

Inc.

-

Class

A(a)

......

23,418,300

155,000

Generac

Holdings,

Inc.(a)

........

23,823,500

335,000

German

American

Bancorp,

Inc.

...

9,869,100

249,926

Glaukos

Corp.(a)

...............

19,279,292

375,000

Globus

Medical,

Inc.

-

Class

A(a)

...

22,601,250

101,500

Hamilton

Lane,

Inc.

-

Class

A

.....

8,975,645

233,600

HashiCorp,

Inc.

-

Class

A(a)

......

6,916,896

785,000

Hayward

Holdings,

Inc.(a)

........

10,487,600

67,148

HEICO

Corp.

.................

11,816,705

865,000

Hostess

Brands,

Inc.(a)

..........

20,794,600

566,529

ImmunoGen,

Inc.(a)

............

10,095,547

150,000

Independent

Bank

Corp.

.........

9,037,500

99,010

Independent

Bank

Group,

Inc.

.....

4,442,579

208,943

Ingersoll

Rand,

Inc.

.............

13,637,710

249,685

Innospec,

Inc.

.................

26,751,251

117,877

Inspire

Medical

Systems,

Inc.(a)

....

33,926,179

545,000

Integra

LifeSciences

Holdings

Corp.(a)

24,781,150

44,535

Inter

Parfums,

Inc.

..............

6,660,655

77,287

IPG

Photonics

Corp.(a)

..........

10,159,376

126,925

Iridium

Communications,

Inc.

.....

6,669,909

122,077

iRobot

Corp.(a)

................

4,883,080

110,000

J

&

J

Snack

Foods

Corp.

.........

17,635,200

335,000

John

Bean

Technologies

Corp.

.....

41,409,350

445,000

John

Wiley

&

Sons,

Inc.

-

Class

A

..

15,232,350

222,281

Keysight

Technologies,

Inc.(a)

.....

35,805,023

28,152

Kinsale

Capital

Group,

Inc.

.......

10,490,280

85,620

Kirby

Corp.(a)

.................

6,976,318

145,000

Lancaster

Colony

Corp.

..........

27,931,350

35,907

Lantheus

Holdings,

Inc.(a)

........

3,105,596

77,878

Legend

Biotech

Corp.

-

ADR(a)

....

5,881,347

131,408

LendingTree,

Inc.(a)

............

3,206,355

1,070,000

Leslie's,

Inc.(a)

................

6,815,900

201,200

Light

&

Wonder,

Inc.(a)

.........

14,144,360

151,703

Lincoln

Electric

Holdings,

Inc.

.....

30,448,309

221,857

Live

Nation

Entertainment,

Inc.(a)

..

19,467,952

254,835

LivePerson,

Inc.(a)

..............

1,210,466

394,467

LiveRamp

Holdings,

Inc.(a)

.......

11,258,088

35,044

Madrigal

Pharmaceuticals,

Inc.(a)

...

7,194,533

Old

Westbury

Funds,

Inc.

Small

&

Mid

Cap

Strategies

Fund

Portfolio

of

Investments

-

(Continued)

22

July

31,

2023

(Unaudited)

Shares

Value

UNITED

STATES

(continued)

381,435

Magnolia

Oil

&

Gas

Corp.

-

Class

A

$

8,448,785

187,925

Malibu

Boats,

Inc.

-

Class

A(a)

.....

11,266,104

64,423

Manhattan

Associates,

Inc.(a)

......

12,280,312

111,052

MarketAxess

Holdings,

Inc.

.......

29,897,419

41,400

Marriott

Vacations

Worldwide

Corp.

5,320,314

171,360

Matador

Resources

Co.

..........

9,532,757

178,907

MaxCyte,

Inc.(a)

...............

799,714

220,000

MGP

Ingredients,

Inc.

...........

25,082,200

44,205

MKS

Instruments,

Inc.

..........

4,825,860

385,367

Model

N,

Inc.(a)

...............

12,840,428

320,000

Montrose

Environmental

Group,

Inc.

(a)

......................

12,950,400

209,325

MSA

Safety,

Inc.

...............

34,747,950

94,050

Mueller

Industries,

Inc.

..........

7,623,693

18,526

Murphy

USA,

Inc.

..............

5,688,038

44,895

MYR

Group,

Inc.(a)

............

6,400,231

384,826

Myriad

Genetics,

Inc.(a)

.........

8,600,861

443,214

Nasdaq,

Inc.

..................

22,377,875

229,165

National

Storage

Affiliates

Trust

REIT

7,743,485

905,000

Neogen

Corp.(a)

...............

20,986,950

440,000

New

Relic,

Inc.(a)

..............

36,951,200

53,200

Nexstar

Media

Group,

Inc.

........

9,933,504

172,065

Novanta,

Inc.(a)

...............

30,438,299

717,445

Nutanix,

Inc.

-

Class

A(a)

.........

21,666,839

436,300

Old

National

Bancorp

...........

7,430,189

160,000

Ollie's

Bargain

Outlet

Holdings,

Inc.

(a)

......................

11,660,800

260,000

Omnicell,

Inc.(a)

...............

16,419,000

73,550

Onto

Innovation,

Inc.(a)

.........

9,143,736

151,350

Origin

Bancorp,

Inc.

............

4,934,010

425,000

Outset

Medical,

Inc.(a)

..........

8,746,500

476,365

P10,

Inc.

-

Class

A

..............

5,644,925

286,595

Pacira

BioSciences,

Inc.(a)

........

10,417,728

210,000

Palomar

Holdings,

Inc.(a)

........

12,717,600

85,000

Penumbra,

Inc.(a)

..............

25,785,600

115,630

Performance

Food

Group

Co.(a)

...

6,910,049

81,500

Pinnacle

Financial

Partners,

Inc.

....

6,185,850

362,670

Planet

Fitness,

Inc.

-

Class

A(a)

....

24,494,732

40,479

Pool

Corp.

...................

15,573,890

40,231

Primerica,

Inc.

.................

8,557,134

196,070

PROCEPT

BioRobotics

Corp.(a)

...

6,752,651

411,861

Progyny,

Inc.(a)

................

17,199,315

1,230,000

Pure

Storage,

Inc.

-

Class

A(a)

.....

45,497,700

3,319,448

PureTech

Health

Plc(a)

..........

9,521,130

390,000

Q2

Holdings,

Inc.(a)

............

13,833,300

152,600

RadNet,

Inc.(a)

................

5,048,008

115,000

RBC

Bearings,

Inc.(a)

...........

25,995,750

34,080

Repligen

Corp.(a)

..............

5,846,765

316,679

RxSight,

Inc.(a)

................

10,567,578

98,335

Saia,

Inc.(a)

...................

41,609,472

925,000

Sally

Beauty

Holdings,

Inc.(a)

.....

11,072,250

777,030

Schrodinger,

Inc.(a)

.............

40,646,439

140,625

SeaWorld

Entertainment,

Inc.(a)

...

7,786,406

Shares

Value

UNITED

STATES

(continued)

250,000

Selective

Insurance

Group,

Inc.

....

$

25,797,500

250,000

Sensient

Technologies

Corp.

.......

16,010,000

200,000

ServisFirst

Bancshares,

Inc.

........

11,936,000

245,000

Shake

Shack,

Inc.

-

Class

A(a)

.....

19,026,700

131,045

Shift4

Payments,

Inc.

-

Class

A(a)

...

9,040,795

43,579

Shockwave

Medical,

Inc.(a)

.......

11,356,687

105,075

SI-BONE,

Inc.(a)

..............

2,706,732

555,000

Simply

Good

Foods

Co.

(The)(a)

...

21,484,050

82,465

Simpson

Manufacturing

Co.,

Inc.

..

13,029,470

105,605

Simulations

Plus,

Inc.

...........

5,259,129

527,105

Smartsheet,

Inc.

-

Class

A(a)

.......

23,403,462

96,700

SouthState

Corp.

...............

7,510,689

700,000

Sovos

Brands,

Inc.(a)

............

12,460,000

314,398

Sprout

Social,

Inc.

-

Class

A(a)

.....

17,964,702

66,030

SPS

Commerce,

Inc.(a)

..........

11,911,152

506,426

STAAR

Surgical

Co.(a)

..........

27,736,952

297,510

STAG

Industrial,

Inc.

REIT

.......

10,799,613

123,925

Standex

International

Corp.

.......

18,411,537

205,425

Stericycle,

Inc.(a)

...............

8,728,508

152,639

STERIS

Plc

...................

34,427,726

190,000

Stock

Yards

Bancorp,

Inc.

.........

9,083,900

221,882

Stratasys

Ltd.(a)

................

4,022,721

293,022

Summit

Materials,

Inc.

-

Class

A(a)

.

10,601,536

61,216

Synopsys,

Inc.(a)

...............

27,657,389

150,420

Synovus

Financial

Corp.

.........

5,099,238

355,000

Tandem

Diabetes

Care,

Inc.(a)

.....

12,396,600

60,837

Tarsus

Pharmaceuticals,

Inc.(a)

.....

1,339,022

299,906

Teladoc

Health,

Inc.(a)

..........

8,928,202

105,114

Teleflex,

Inc.

..................

26,401,483

300,000

Tenable

Holdings,

Inc.(a)

.........

14,598,000

104,425

Texas

Capital

Bancshares,

Inc.(a)

...

6,667,536

381,213

Tradeweb

Markets,

Inc.

-

Class

A

...

31,179,411

80,975

Transcat,

Inc.(a)

................

6,792,183

458,935

TriMas

Corp.

.................

11,822,166

229,283

Trupanion,

Inc.(a)

..............

7,073,381

348,448

Twist

Bioscience

Corp.(a)

.........

8,481,224

96,658

UFP

Technologies,

Inc.(a)

........

18,815,930

33,296

Ulta

Beauty,

Inc.(a)

.............

14,810,061

1,172,445

Upwork,

Inc.(a)

................

12,228,601

931,497

US

Foods

Holding

Corp.(a)

.......

39,802,867

42,531

US

Physical

Therapy,

Inc.

.........

4,945,079

1,315,000

Utz

Brands,

Inc.

...............

22,026,250

362,883

Veeco

Instruments,

Inc.(a)

........

10,218,785

425,000

Veracyte,

Inc.(a)

...............

11,666,250

2,193,315

ViewRay,

Inc.(a)

...............

50,666

113,518

WEX,

Inc.(a)

.................

21,494,633

603,029

WillScot

Mobile

Mini

Holdings

Corp.

(a)

......................

28,915,241

97,349

Wingstop,

Inc.

................

16,411,094

20,768

Winmark

Corp.

................

7,548,337

322,084

Wolfspeed,

Inc.(a)

..............

21,225,336

332,665

Workiva,

Inc.(a)

...............

35,026,298

265,000

WSFS

Financial

Corp.

...........

11,593,750

Old

Westbury

Funds,

Inc.

Small

&

Mid

Cap

Strategies

Fund

Portfolio

of

Investments

-

(Continued)

23

July

31,

2023

(Unaudited)

The

following

abbreviations

are

used

in

the

report:

Shares

Value

UNITED

STATES

(continued)

49,300

Wyndham

Hotels

&

Resorts,

Inc.

...

$

3,841,456

119,800

Xylem,

Inc.

...................

13,507,450

104,275

Zevia

PBC

-

Class

A(a)

..........

289,884

108,224

Zillow

Group,

Inc.

-

Class

A(a)

....

5,759,681

480,372

Zillow

Group,

Inc.

-

Class

C(a)

....

26,016,948

1,160,898

Zuora,

Inc.

-

Class

A(a)

..........

13,617,334

3,388,133,512

URUGUAY

—

0.2%

11,863

MercadoLibre,

Inc.(a)

...........

14,686,987

VIETNAM

—

0.0%

563,790

Vietnam

National

Petroleum

Group

.

987,748

Total

Common

Stocks

(Cost

$6,454,290,468)

7,278,346,714

RIGHTS/WARRANTS

—

0.0%

UNITED

STATES

—

0.0%

146,063

Aduro

Biotech

CVR,

Rights,

Expire

12/31/49(a)(b)(e)

...........

0

Total

Rights/Warrants

(Cost

$0)

0

EXCHANGE-TRADED

FUNDS

—

10.1%

114,550

Energy

Select

Sector

SPDR

Fund

...

10,020,834

2,444,400

FlexShares

Morningstar

Global

Upstream

Natural

Resources

Index

Fund

...............

104,351,436

847,650

Health

Care

Select

Sector

SPDR

Fund

113,712,248

412,050

Invesco

KBW

Premium

Yield

Equity

REIT

ETF

................

8,051,457

518,000

iShares

S&P

Small-Cap

600

Value

ETF

....................

52,224,760

610,850

SPDR

S&P

Biotech

ETF

.........

51,488,546

1,535,025

SPDR

S&P

Metals

&

Mining

ETF

.

82,722,497

928,400

Utilities

Select

Sector

SPDR

Fund

..

62,267,788

2,846,650

VanEck

Junior

Gold

Miners

ETF

...

107,204,839

621,350

VanEck

Oil

Services

ETF

.........

213,582,849

304,600

Vanguard

Small-Cap

Value

ETF

....

53,119,194

Total

Exchange-Traded

Funds

(Cost

$777,791,440)

858,746,448

Principal

Amount

U.S.

GOVERNMENT

SECURITIES

—

0.7%

U.S.

Treasury

Bills

—

0.7%

$

60,000,000

5.17%,

08/08/23(f)

.............

59,938,984

Total

U.S.

Government

Securities

(Cost

$59,939,917)

59,938,984

Shares

Value

INVESTMENT

COMPANY

—

0.4%

30,067,928

Federated

Hermes

Government

Obligations

Fund,

5.16%(g)

...

$

30,067,928

Total

Investment

Company

(Cost

$30,067,928)

30,067,928

Principal

Amount

CASH

SWEEP

—

3.3%

280,006,131

Citibank

-

US

Dollars

on

Deposit

in

Custody

Account,

2.00%(g)

...

280,006,131

Total

Cash

Sweep

(Cost

$280,006,131)

280,006,131

TOTAL

INVESTMENTS

—

100.1%

(Cost

$7,602,095,884)

$

8,507,106,205

LIABILITIES

IN

EXCESS

OF

OTHER

ASSETS

—

(0.1)%

(8,157,352)

NET

ASSETS

—

100.0%

$

8,498,948,853

(a)

Non-income

producing

security.

(b)

Security

is

valued

using

significant

unobservable

inputs

and

is

classified

as

Level

3

in

the

fair

value

hierarchy.

The

aggregate

value

of

fair

valued

securities

is

$3,843,064

which

is

0.05%

of

net

assets

and

the

cost

is

$61,756,844.

(c)

Security

offered

and

sold

outside

of

the

United

States,

and

thus

is

exempt

from

registration

under

Regulation

S

of

the

Securities

Act

of

1933.

(d)

Security

exempt

from

registration

under

Rule

144A

of

the

Securities

Act

of

1933,

as

amended.

The

security

may

be

resold

in

transactions

exempt

from

registration

normally

to

qualified

institutional

buyers.

The

security

has

been

determined

to

be

liquid

in

accordance

with

procedures

adopted

by

the

Fund’s

Board

of

Directors

except

as

indicated

in

(e).

(e)

These

securities

have

been

determined

to

be

illiquid

in

accordance

with

procedures

adopted

by

the

Fund’s

Board

of

Directors.

(f)

Zero

coupon

security.

The

rate

represents

the

yield

at

time

of

purchase.

(g)

The

rate

shown

represents

the

current

yield

as

of

July

31,

2023.

ADR

—

American

Depositary

Receipt

CDI

—

CREST

Depository

Interest

CVR

—

Contingent

Value

Right

ETF

—

Exchange-Traded

Fund

FOR

—

Foreign

Ownership

Restrictions

GDR

—

Global

Depositary

Receipt

REIT

—

Real

Estate

Investment

Trust

SPDR

—

Standard

&

Poor's

Depositary

Receipt

Old

Westbury

Funds,

Inc.

Small

&

Mid

Cap

Strategies

Fund

Portfolio

of

Investments

-

(Continued)

24

July

31,

2023

(Unaudited)

Portfolio

Diversification

by

Country

(Unaudited)

Country:

Percentage

of

Net

Assets

Australia

....................................

2.1

%

Austria

.....................................

0.3

Belgium

....................................

0.2

Bermuda

....................................

0.1

Brazil

......................................

0.8

Canada

.....................................

3.5

Chile

......................................

0.1

China

......................................

4.2

Costa

Rica

...................................

0.0

*

Denmark

...................................

1.7

Finland

.....................................

0.5

France

......................................

1.3

Germany

....................................

1.9

Greece

.....................................

0.4

Hong

Kong

..................................

0.6

Iceland

.....................................

0.1

India

.......................................

0.9

Indonesia

...................................

0.0

*

Ireland

.....................................

0.1

Israel

.......................................

2.4

Italy

.......................................

1.3

Japan

......................................

7.9

Jersey

Channel

Islands

..........................

0.2

Luxembourg

.................................

0.0

*

Malaysia

....................................

0.1

Mexico

.....................................

0.1

Netherlands

..................................

0.9

New

Zealand

.................................

0.2

Norway

.....................................

0.5

Peru

.......................................

0.1

Poland

.....................................

0.3

Portugal

....................................

0.1

Russia

......................................

0.0

*

Singapore

...................................

0.5

South

Africa

.................................

0.3

South

Korea

.................................

1.2

Spain

......................................

0.4

Sweden

.....................................

1.0

Switzerland

..................................

2.1

Taiwan

.....................................

0.8

Thailand

....................................

0.3

Turkey

.....................................

0.2

United

Kingdom

..............................

5.8

United

States

.................................

39.9

Uruguay

....................................

0.2

Vietnam

....................................

0.0

*

Other

**

.....................................

14.4

100.0%

*

Represents

less

than

0.01%

of

net

assets.

**

Includes

cash

and

equivalents,

exchange-traded

funds,

rights/warrants,

U.S.

Government

Securities,

investment

company,

pending

trades

and

Fund

share

transactions,

interest

and

dividends

receivable,

prepaids

and

accrued

expenses

payable.