UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM N-CSR
CERTIFIED SHAREHOLDER REPORT OF REGISTERED
MANAGEMENT
INVESTMENT COMPANIES
Investment Company Act file number 811-07912
Old Westbury Funds, Inc.
(Exact name of registrant as specified in charter)
760 Moore Rd.
King of Prussia, PA 19406
(Address of principal executive offices) (Zip code)
Andrew J. McNally
BNY Mellon Investment Servicing (US) Inc.
760 Moore Rd.
King of Prussia, PA 19406
(Name and address of agent for service)
Registrant’s telephone number, including area code: 800-607-2200
Date of fiscal year end: October 31
Date of reporting period: April 30, 2013
Form N-CSR is to be used by management investment companies to file reports with the Commission not later than 10 days after the transmission to stockholders of any report that is required to be transmitted to stockholders under Rule 30e-1 under the Investment Company Act of 1940 (17 CFR 270.30e-1). The Commission may use the information provided on Form N-CSR in its regulatory, disclosure review, inspection, and policymaking roles.
A registrant is required to disclose the information specified by Form N-CSR, and the Commission will make this information public. A registrant is not required to respond to the collection of information contained in Form N-CSR unless the Form displays a currently valid Office of Management and Budget (“OMB”) control number. Please direct comments concerning the accuracy of the information collection burden estimate and any suggestions for reducing the burden to Secretary, Securities and Exchange Commission, 100 F Street, NE, Washington, DC 20549 . The OMB has reviewed this collection of information under the clearance requirements of 44 U.S.C. § 3507.
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Item 1. Reports to Stockholders.
The Report to Shareholders is attached herewith.
Old Westbury Funds,
Inc.
Semi-Annual Report
April 30, 2013
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Old Westbury Funds, Inc.
Disclosure of Fund Expenses | 3 | |
Portfolios of Investments: | ||
Large Cap Core Fund | 5 | |
Large Cap Strategies Fund | 7 | |
Global Small & Mid Cap Fund | 10 | |
Global Opportunities Fund | 14 | |
Real Return Fund | 58 | |
Fixed Income Fund | 65 | |
Municipal Bond Fund | 71 | |
Statements of Assets and Liabilities | 90 | |
Statements of Operations | 93 | |
Statements of Changes in Net Assets | 96 | |
Financial Highlights: | ||
Large Cap Core Fund | 100 | |
Large Cap Strategies Fund | 101 | |
Global Small & Mid Cap Fund | 102 | |
Global Opportunities Fund | 103 | |
Real Return Fund | 104 | |
Fixed Income Fund | 105 | |
Municipal Bond Fund | 106 | |
Notes To Financial Statements | 107 | |
Additional Information (Unaudited) | 138 |
This report and the financial statements contained herein are submitted for the general information of the shareholders of the Funds. This report is not authorized for distribution to prospective investors in the Funds unless preceded or accompanied by an effective prospectus.
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This Page Intentionally Left Blank
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Old Westbury Funds, Inc. | |
Disclosure of Fund Expenses | |
For the Period Ended April 30, 2013 (Unaudited) | |
As a shareholder of Old Westbury Funds, Inc., you incur ongoing costs, including management fees and other Fund expenses. This example is intended to help you understand your ongoing costs (in dollars) of investing in the Funds and to compare these costs with the ongoing costs of investing in other mutual funds.
The example is based on an investment of $1,000 invested at the beginning of the period and held for the entire period from November 1, 2012 through April 30, 2013.
Actual Expenses
The table below provides information about actual account values and actual expenses. You may use the information below, together with the amount you invested, to estimate the expenses that you paid over the period. Simply divide your account value by $1,000 (for example, an $8,600 account value divided by $1,000 = 8.6), then multiply the result by the number in the table under the heading entitled “Actual Expenses Paid During Period” to estimate the expenses you paid on your account during this period.
Actual | Actual | Actual | Actual | |||||||||||||
Beginning | Ending | Expenses Paid | Expense Ratio | |||||||||||||
Account Value | Account Value | During Period* | During Period | |||||||||||||
11/1/12 | 4/30/13 | 11/1/12-4/30/13 | 11/1/12-4/30/13** | |||||||||||||
Large Cap Core Fund | $ | 1,000.00 | $ | 1,133.90 | $ | 5.29 | 1.00 | % | ||||||||
Large Cap Strategies Fund | 1,000.00 | 1,132.10 | 6.08 | 1.15 | % | |||||||||||
Global Small & Mid Cap Fund | 1,000.00 | 1,155.70 | 5.93 | 1.11 | % | |||||||||||
Global Opportunities Fund | 1,000.00 | 1,095.40 | 6.23 | 1.20 | % | |||||||||||
Real Return Fund | 1,000.00 | 913.50 | 5.22 | 1.10 | % | |||||||||||
Fixed Income Fund | 1,000.00 | 1,007.70 | 3.29 | 0.66 | % | |||||||||||
Municipal Bond Fund | 1,000.00 | 1,007.80 | 3.04 | 0.61 | % |
* | Expenses are equal to the average account value times the Fund’s annualized expense ratio multiplied by 181/365 to reflect the one-half year period. |
** | Expense ratios are annualized and reflect existing expense waivers/reimbursements. |
3 |
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Old Westbury Funds, Inc. | |
Disclosure of Fund Expenses - (Continued) | |
For the Period Ended April 30, 2013 (Unaudited) | |
Hypothetical Example for Comparison Purposes
The table below provides information about hypothetical account values and hypothetical expenses based on each Fund’s actual expense ratio and an assumed rate of return of 5% per year before expenses, which is not the Fund’s actual return. The hypothetical account values and expenses may not be used to estimate the actual ending account balance or expenses you paid for the period. You may use this information to compare this 5% hypothetical example with the 5% hypothetical examples that appear in the shareholder reports of other funds.
Hypothetical | Hypothetical | Hypothetical | Hypothetical | |||||||||||||
Beginning | Ending | Expenses Paid | Expense Ratio | |||||||||||||
Account Value | Account Value | During Period* | During Period | |||||||||||||
11/1/12 | 4/30/13 | 11/1/12-4/30/13 | 11/1/12-4/30/13** | |||||||||||||
Large Cap Core Fund | $ | 1,000.00 | $ | 1,019.84 | $ | 5.01 | 1.00 | % | ||||||||
Large Cap Strategies Fund | 1,000.00 | 1,019.09 | 5.76 | 1.15 | % | |||||||||||
Global Small & Mid Cap Fund | 1,000.00 | 1,019.29 | 5.56 | 1.11 | % | |||||||||||
Global Opportunities Fund | 1,000.00 | 1,018.84 | 6.01 | 1.20 | % | |||||||||||
Real Return Fund | 1,000.00 | 1,019.34 | 5.51 | 1.10 | % | |||||||||||
Fixed Income Fund | 1,000.00 | 1,021.52 | 3.31 | 0.66 | % | |||||||||||
Municipal Bond Fund | 1,000.00 | 1,021.77 | 3.06 | 0.61 | % |
* | Expenses are equal to the average account value times the Fund’s annualized expense ratio multiplied by 181/365 to reflect the one-half year period. |
** | Expense ratios are annualized and reflect existing expense waivers/reimbursements. |
Please note that the expenses shown in the tables are meant to highlight your ongoing costs only and do not reflect any transactional costs, such as sales charges (loads), redemption fees, or exchange fees. Therefore, these tables are useful in comparing ongoing costs only, and will not help you determine the relative total costs of owning different funds. In addition, if these transactional costs were included, your costs would have been higher.
4 |
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Old Westbury Funds, Inc. | |
Large Cap Core Fund | |
Portfolio of Investments | April 30, 2013 |
(Unaudited) |
Shares | Value | |||||||
COMMON STOCKS — 96.3% | ||||||||
Banks — 6.5% | ||||||||
545,540 | BNP Paribas SA - ADR | $ | 15,367,862 | |||||
911,280 | China Construction Bank Corp. - ADR | 15,254,827 | ||||||
219,115 | Citigroup, Inc. | 10,223,906 | ||||||
460,465 | Nordea Bank AB - ADR | 5,525,579 | ||||||
46,372,174 | ||||||||
Consumer Discretionary — 16.4% | ||||||||
183,990 | Coach, Inc. | 10,829,651 | ||||||
212,240 | Daihatsu Motor Co. Ltd. - ADR | 8,423,806 | ||||||
381,130 | Dollar General Corp.(b) | 19,853,062 | ||||||
226,885 | Lowe’s Cos, Inc. | 8,716,922 | ||||||
330,015 | Macy’s, Inc. | 14,718,669 | ||||||
254,090 | Nielsen Holdings NV | 8,796,596 | ||||||
240,635 | Nikon Corp. Plc - ADR | 5,221,780 | ||||||
208,650 | Target Corp. | 14,722,343 | ||||||
251,100 | Viacom, Inc. - Class B | 16,067,889 | ||||||
237,050 | Volkswagen AG - ADR | 9,598,155 | ||||||
116,948,873 | ||||||||
Consumer Staples — 8.2% | ||||||||
199,685 | CVS Caremark Corp. | 11,617,673 | ||||||
203,315 | Imperial Tobacco Group Plc - ADR | 14,640,713 | ||||||
1,080,920 | Koninklijke Ahold NV - ADR | 17,046,108 | ||||||
310,710 | Walgreen Co. | 15,383,252 | ||||||
58,687,746 | ||||||||
Energy — 9.2% | ||||||||
119,570 | China Petroleum & Chemical Corp. - ADR | 13,219,659 | ||||||
159,330 | ConocoPhillips | 9,631,499 | ||||||
358,115 | ENI SpA - ADR | 17,121,478 | ||||||
357,515 | Marathon Oil Corp. | 11,680,015 | ||||||
288,165 | Total SA - ADR | 14,477,410 | ||||||
66,130,061 | ||||||||
Health Care — 15.8% | ||||||||
291,455 | Aetna, Inc. | 16,741,175 | ||||||
120,695 | Johnson & Johnson | 10,286,835 | ||||||
331,810 | Pfizer, Inc. | 9,645,717 | ||||||
313,125 | Sanofi - ADR | 16,705,219 | ||||||
329,715 | Teva Pharmaceutical Industries Ltd. - ADR | 12,624,787 | ||||||
166,850 | Thermo Fisher Scientific, Inc. | 13,461,457 | ||||||
240,040 | UnitedHealth Group, Inc. | 14,385,597 | ||||||
245,120 | Zimmer Holdings, Inc. | 18,739,424 | ||||||
112,590,211 | ||||||||
Industrials — 5.0% | ||||||||
198,785 | Embraer SA - ADR | 6,943,560 | ||||||
112,100 | Illinois Tool Works, Inc. | 7,237,175 | ||||||
567,365 | ITOCHU Corp. - ADR | 13,974,200 | ||||||
179,355 | Waste Management, Inc. | 7,349,968 | ||||||
35,504,903 |
Shares | Value | |||||||
Information Technology — 9.5% | ||||||||
113,590 | Accenture Plc - Class A | $ | 9,250,770 | |||||
234,660 | Avago Technologies Ltd. | 7,499,734 | ||||||
84,280 | International Business Machines Corp. | 17,070,071 | ||||||
549,875 | Microsoft Corp. | 18,200,863 | ||||||
254,090 | QUALCOMM, Inc. | 15,657,026 | ||||||
67,678,464 | ||||||||
Insurance — 8.1% | ||||||||
168,445 | ACE Ltd. | 15,015,187 | ||||||
545,245 | Allianz SE - ADR | 8,042,364 | ||||||
212,985 | American International Group, Inc.(b) | 8,821,839 | ||||||
780,200 | Muenchener Rueckversi- cherungs AG - ADR | 15,635,207 | ||||||
1,173,290 | RSA Insurance Group Plc - ADR | 10,254,555 | ||||||
57,769,152 | ||||||||
Materials — 1.7% | ||||||||
58,290 | Air Products & Chemicals, Inc. | 5,068,898 | ||||||
125,850 | BHP Billiton Plc -ADR | 7,114,301 | ||||||
12,183,199 | ||||||||
Real Estate — 0.8% | ||||||||
315,220 | Wharf Holdings Ltd. - ADR | 5,643,068 | ||||||
Telecommunication Services — 10.6% | ||||||||
208,950 | CenturyLink, Inc. | 7,850,252 | ||||||
317,385 | China Telecom Corp. Ltd. - ADR | 16,345,328 | ||||||
1,943,025 | KDDI Corp. - ADR | 23,607,754 | ||||||
688,550 | Tele2 AB - ADR | 5,818,248 | ||||||
585,600 | Tim Participacoes SA - ADR | 12,215,615 | ||||||
319,850 | Vodafone Group Plc - ADR | 9,784,212 | ||||||
75,621,409 | ||||||||
Utilities — 4.5% | ||||||||
89,080 | DTE Energy Co. | 6,492,150 | ||||||
246,765 | Exelon Corp. | 9,256,155 | ||||||
388,155 | SSE Plc - ADR | 9,447,693 | ||||||
298,555 | Tokyo Gas Co. Ltd. - ADR | 6,783,170 | ||||||
31,979,168 | ||||||||
Total Common Stocks
(Cost $609,270,321) |
687,108,428 |
5 |
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Old Westbury Funds, Inc. | |
Large Cap Core Fund | |
Portfolio of Investments - (Continued) | April 30, 2013 |
(Unaudited) |
(a) | Cost for federal income tax purposes is $645,015,879 and net unrealized appreciation of investments is as follows: |
Unrealized appreciation | $ | 89,857,804 | ||
Unrealized depreciation | (12,072,934 | ) | ||
Net unrealized appreciation | $ | 77,784,870 |
(b) | Non-income producing security. |
(c) | The rate represents the annualized yield at time of purchase. |
(d) | Rate shown represents current yield at April 30, 2013. |
ADR-American Depositary Receipt
Portfolio diversification by Sector (Unaudited) | ||||
Percentage | ||||
Sector | of Net Assets | |||
Banks | 6.5 | % | ||
Consumer Discretionary | 16.4 | % | ||
Consumer Staples | 8.2 | % | ||
Energy | 9.2 | % | ||
Health Care | 15.8 | % | ||
Industrials | 5.0 | % | ||
Information Technology | 9.5 | % | ||
Insurance | 8.1 | % | ||
Materials | 1.7 | % | ||
Real Estate | 0.8 | % | ||
Telecommunication Services | 10.6 | % | ||
Utilities | 4.5 | % | ||
Other* | 3.7 | % | ||
100 | % |
* | Includes cash and equivalents, U.S. government agencies, investment companies, pending trades and Fund share transactions, interest and dividends receivable, prepaids and accrued expenses payable. |
6 |
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Old Westbury Funds, Inc. | |
Large Cap Strategies Fund | |
Portfolio of Investments | April 30, 2013 |
(Unaudited) |
Shares | Value | ||||||
COMMON STOCKS — 90.2% | |||||||
ARGENTINA — 0.9% | |||||||
574,000 | MercadoLibre, Inc. | $ | 57,738,660 | ||||
BELGIUM — 0.4% | |||||||
445,000 | UCB SA(d) | 26,301,608 | |||||
BRAZIL — 3.0% | |||||||
9,261,000 | BM&FBovespa SA | 64,247,247 | |||||
914,400 | Cielo SA | 24,117,400 | |||||
4,449,684 | Itau Unibanco Holding SA - ADR | 74,888,182 | |||||
648,000 | Natura Cosmeticos SA | 16,236,031 | |||||
1,444,000 | Raia Drogasil SA | 15,524,398 | |||||
195,013,258 | |||||||
CANADA — 0.5% | |||||||
1,732,300 | Barrick Gold Corp. | 34,149,067 | |||||
CHINA — 1.0% | |||||||
546,000 | Baidu, Inc. - ADR(b) | 46,874,100 | |||||
6,124,000 | Tingyi Cayman Islands Holding Corp. | 16,927,482 | |||||
63,801,582 | |||||||
DENMARK — 0.2% | |||||||
488,000 | Novozymes A/S - Class B | 16,852,555 | |||||
FINLAND — 0.9% | |||||||
391,000 | Kone Oyj - Class B | 34,525,898 | |||||
7,672,315 | Nokia Oyj | 25,704,726 | |||||
60,230,624 | |||||||
FRANCE — 1.7% | |||||||
779,023 | Renault SA | 53,676,904 | |||||
2,569,368 | Vivendi SA | 58,200,163 | |||||
111,877,067 | |||||||
GERMANY — 5.0% | |||||||
840,376 | Adidas AG | 87,763,972 | |||||
1,006,000 | Bayerische Motoren Werke AG | 92,805,895 | |||||
1,671,000 | Deutsche Boerse AG(d) | 104,309,589 | |||||
382,900 | Siemens AG | 39,987,845 | |||||
324,867,301 | |||||||
INDIA — 1.0% | |||||||
207,000 | Asian Paints Ltd.(d) | 17,985,159 | |||||
7,504,000 | ITC Ltd.(d) | 46,129,926 | |||||
64,115,085 | |||||||
ITALY — 1.9% | |||||||
1,806,900 | ENI SpA | 43,213,496 | |||||
1,700,425 | Fiat Industrial SpA | 19,191,448 | |||||
4,421,003 | Fiat SpA(b) | 26,444,623 | |||||
3,986,000 | Prada SpA | 35,929,808 | |||||
124,779,375 | |||||||
JAPAN — 9.0% | |||||||
790,600 | Canon, Inc. | 28,344,330 | |||||
533,900 | East Japan Railway Co. | 45,018,803 |
7 |
|
Old Westbury Funds, Inc. | |
Large Cap Strategies Fund | |
Portfolio of Investments - (Continued) | April 30, 2013 |
(Unaudited) |
Shares |
Value |
||||||
UNITED KINGDOM (continued) | |||||||
2,211,695 | Wolseley Plc(d) | $ | 109,353,125 | ||||
674,818,922 | |||||||
UNITED STATES — 41.0% | |||||||
564,000 | Allergan, Inc. | 64,042,200 | |||||
272,000 | Amazon.com, Inc.(b) | 69,036,318 | |||||
201,300 | Apple, Inc. | 89,125,575 | |||||
1,155,000 | Becton Dickinson and Co. | 108,916,500 | |||||
192,000 | Biogen Idec, Inc.(b) | 42,034,560 | |||||
945,000 | BioMarin Pharmaceutical, Inc.(b) | 61,992,000 | |||||
423,000 | Cerner Corp.(b) | 40,933,710 | |||||
2,246,200 | Chesapeake Energy Corp. | 43,890,748 | |||||
1,418,500 | Citigroup, Inc. | 66,187,210 | |||||
3,145,200 | Coca-Cola Co. (The) | 133,136,316 | |||||
1,095,500 | Colgate-Palmolive Co. | 130,813,655 | |||||
1,631,200 | Covidien Plc | 104,135,808 | |||||
846,300 | Deere & Co. | 75,574,590 | |||||
1,867,000 | Facebook, Inc. - Class A(b) | 51,827,920 | |||||
572,000 | FMC Technologies, Inc.(b) | 31,059,599 | |||||
720,500 | Franklin Resources, Inc. | 111,432,530 | |||||
4,314,000 | General Electric Co. | 96,159,060 | |||||
960,800 | Gilead Sciences, Inc.(b) | 48,654,912 | |||||
68,500 | Google, Inc. - Class A(b) | 56,483,045 | |||||
2,559,000 | Hewlett-Packard Co. | 52,715,400 | |||||
69,000 | Intuitive Surgical, Inc.(b) | 33,968,010 | |||||
1,217,000 | JPMorgan Chase & Co. | 59,645,170 | |||||
976,000 | Las Vegas Sands Corp. | 54,900,000 | |||||
140,150 | Mastercard, Inc. - Class A | 77,493,140 | |||||
1,706,500 | Microsoft Corp. | 56,485,150 | |||||
577,000 | National Oilwell Varco, Inc. | 37,631,940 | |||||
755,000 | NIKE, Inc. - Class B | 48,018,000 | |||||
1,157,000 | Occidental Petroleum Corp. | 103,273,820 | |||||
2,033,200 | Pfizer, Inc. | 59,105,124 | |||||
315,000 | Praxair, Inc. | 36,004,500 | |||||
1,656,000 | Salesforce.com, Inc.(b) | 68,078,160 | |||||
2,012,300 | Schlumberger Ltd. | 149,775,489 | |||||
2,616,700 | Texas Instruments, Inc. | 94,750,707 | |||||
809,900 | Union Pacific Corp. | 119,832,804 | |||||
535,000 | Visa, Inc. - Class A | 90,126,100 | |||||
3,053,000 | Wells Fargo & Co. | 115,952,940 | |||||
2,683,192,710 | |||||||
Total Common Stocks
(Cost $5,175,327,323) |
5,906,228,505 | ||||||
EXCHANGE TRADED FUNDS — 5.3% | |||||||
1,742,000 | iShares S&P 500 Index Fund | 279,347,120 | |||||
5,800,000 | iShares MSCI Japan Index Fund | 67,860,000 | |||||
Total Exchange Traded Funds
(Cost $332,779,380) |
347,207,120 |
Principal
Amount |
Value | ||||||
U.S. GOVERNMENT AGENCIES — 1.8% | |||||||
Federal Home Loan Bank — 1.8% | |||||||
$ | 20,000,000 | 0.06%, 05/15/13(c) | $ | 19,999,572 | |||
80,000,000 | 0.05%, 05/24/13(c) | 79,997,445 | |||||
20,000,000 | 0.05%, 05/24/13(c) | 19,999,425 | |||||
119,996,442 | |||||||
Total
U.S. Government Agencies
(Cost $119,996,442) |
119,996,442 | ||||||
U.S. GOVERNMENT SECURITIES — 0.3% | |||||||
U.S. Treasury Bills — 0.3% | |||||||
24,000,000 | 0.03%, 05/02/13(c) | 23,999,977 | |||||
Total
U.S. Government Securities
(Cost $23,999,977) |
23,999,977 | ||||||
CASH SWEEP — 2.1% | |||||||
135,495,400 |
Federated Government
Obligations Fund
0.02%(e) |
135,495,400 | |||||
Total
Cash Sweep
(Cost $135,495,400) |
135,495,400 | ||||||
TOTAL
INVESTMENTS — 99.7%
(Cost $5,787,598,522)(a) |
$ | 6,532,927,444 | |||||
OTHER ASSETS IN EXCESS OF LIABILITIES — 0.3% | 17,096,728 | ||||||
NET ASSETS — 100.0% | $ | 6,550,024,172 |
(a) | Cost for federal income tax purposes is $5,789,749,878 and net unrealized appreciation of investments is as follows: |
Unrealized appreciation | $ | 857,487,559 | ||
Unrealized depreciation | (114,309,993 | ) | ||
Net unrealized appreciation | $ | 743,177,566 |
(b) | Non-income producing security. |
(c) | The rate represents the annualized yield at time of purchase. |
(d) | This security is considered either fully or partially illiquid. These securities or portions thereof have a value of $333,094,604 or 5.1% of net assets. |
(e) | Rate shown represents current yield at April 30, 2013. |
ADR-American Depositary Receipt
GDR-Global Depositary Receipt
8 |
|
Old Westbury Funds, Inc. | |
Large Cap Strategies Fund | |
Portfolio of Investments - (Continued) | April 30, 2013 |
(Unaudited) |
Portfolio diversification by Sector (Unaudited)
Percentage | |||||
Sector | of Net Assets | ||||
Banks | 5.1 | % | |||
Consumer Discretionary | 12.4 | % | |||
Consumer Staples | 10.1 | % | |||
Diversified Financials | 5.2 | % | |||
Energy | 8.2 | % | |||
Health Care | 11.0 | % | |||
Industrials | 12.0 | % | |||
Information Technology | 19.1 | % | |||
Insurance | 1.0 | % | |||
Materials | 2.4 | % | |||
Telecommunication Services | 3.7 | % | |||
Other* | 9.8 | % | |||
100.0 | % |
* | Includes cash and equivalents, exchange traded funds, U.S. government agencies and securities, pending trades and Fund share transactions, interest and dividends receivable, prepaids and accrued expenses payable. |
9 |
|
Old Westbury Funds, Inc. | |
Global Small & Mid Cap Fund | |
Condensed Portfolio of Investments | April 30, 2013 |
(Unaudited) |
Percentage of | ||||||||||||
Shares | Net Assets (%) | Value | ||||||||||
COMMON STOCKS — 89.3% | ||||||||||||
ARGENTINA — 0.0% | ||||||||||||
84,000 | Other Securities | 0.0 | $ | 1,144,080 | ||||||||
AUSTRALIA — 2.1% | ||||||||||||
19,105,479 | Commonwealth Property Office Fund REIT(b) | 0.4 | 22,975,692 | |||||||||
731,690 | Monadelphous Group Ltd. | 0.3 | 15,876,290 | |||||||||
46,487,270 | Other Securities | 1.4 | 81,808,349 | |||||||||
120,660,331 | ||||||||||||
AUSTRIA — 0.2% | ||||||||||||
565,049 | Other Securities | 0.2 | 12,455,313 | |||||||||
BAHAMAS — 0.0% | ||||||||||||
366 | Other Securities | 0.0 | 63,682 | |||||||||
BELGIUM — 0.2% | ||||||||||||
537,102 | Other Securities | 0.2 | 13,449,554 | |||||||||
BERMUDA — 0.7% | ||||||||||||
1,628,111 | Other Securities | 0.7 | 41,852,318 | |||||||||
BRAZIL — 1.0% | ||||||||||||
6,531,157 | Other Securities | 1.0 | 54,415,044 | |||||||||
CANADA — 2.0% | ||||||||||||
12,463,378 | Other Securities | 2.0 | 115,091,614 | |||||||||
CAYMAN ISLANDS — 0.0% | ||||||||||||
59,150 | Other Securities | 0.0 | 63,997 | |||||||||
CHILE — 0.1% | ||||||||||||
66,422,853 | Other Securities | 0.1 | 7,247,576 | |||||||||
CHINA — 1.0% | ||||||||||||
98,344,230 | Other Securities | 1.0 | 56,813,892 | |||||||||
COLUMBIA — 0.0% | ||||||||||||
1,764 | Other Securities | 0.0 | 37,295 | |||||||||
CYPRUS — 0.0% | ||||||||||||
439,278 | Other Securities | 0.0 | 790,104 | |||||||||
DENMARK — 0.5% | ||||||||||||
436,495 | Chr. Hansen Holding A/S | 0.3 | 15,729,272 | |||||||||
746,801 | Other Securities | 0.2 | 11,759,386 | |||||||||
27,488,658 | ||||||||||||
FINLAND — 0.5% | ||||||||||||
2,046,776 | Other Securities | 0.5 | 28,325,794 | |||||||||
FRANCE — 2.1% | ||||||||||||
4,536,824 | Other Securities | 2.1 | 119,934,463 | |||||||||
GABON — 0.0% | ||||||||||||
55 | Other Securities | 0.0 | 33,680 | |||||||||
GERMANY — 2.5% | ||||||||||||
144,314 | MTU Aero Engines Holding AG | 0.2 | 13,653,507 | |||||||||
617,282 | Symrise AG(b) | 0.5 | 26,338,926 | |||||||||
2,692,895 | Other Securities | 1.8 | 99,359,512 | |||||||||
139,351,945 |
Percentage of | ||||||||||||
Shares | Net Assets (%) | Value | ||||||||||
GIBRALTAR — 0.0% | ||||||||||||
200,199 | Other Securities | 0.0 | $ | 428,687 | ||||||||
GREECE — 0.1% | ||||||||||||
1,019,130 | Other Securities | 0.1 | 2,468,066 | |||||||||
GUERNSEY — 0.1% | ||||||||||||
896,639 | Other Securities | 0.1 | 3,370,255 | |||||||||
HONG KONG — 1.5% | ||||||||||||
323,984,498 | Other Securities | 1.5 | 86,573,051 | |||||||||
HUNGARY — 0.0% | ||||||||||||
88,257 | Other Securities | 0.0 | 1,235,470 | |||||||||
INDIA — 1.2% | ||||||||||||
18,334,893 | Other Securities | 1.2 | 66,385,065 | |||||||||
INDONESIA — 0.5% | ||||||||||||
239,913,978 | Other Securities | 0.5 | 29,369,494 | |||||||||
IRELAND — 2.1% | ||||||||||||
2,466,000 | Willis Group Holdings Plc(b) | 1.7 | 97,850,880 | |||||||||
4,213,857 | Other Securities | 0.4 | 21,142,755 | |||||||||
118,993,635 | ||||||||||||
ISLE OF MAN — 0.0% | ||||||||||||
21,606 | Other Securities | 0.0 | 47,943 | |||||||||
ISRAEL — 1.6% | ||||||||||||
1,662,500 | Check Point Software Technologies Ltd.(c) | 1.4 | 77,505,750 | |||||||||
1,852,979 | Other Securities | 0.2 | 14,034,509 | |||||||||
91,540,259 | ||||||||||||
ITALY — 0.5% | ||||||||||||
11,076,245 | Other Securities | 0.5 | 26,366,781 | |||||||||
JAPAN — 5.1% | ||||||||||||
38,773,291 | Other Securities | 5.1 | 287,437,720 | |||||||||
JERSEY CHANNEL ISLANDS — 0.0% | ||||||||||||
153,630 | Other Securities | 0.0 | 560,507 | |||||||||
LIECHTENSTEIN — 0.0% | ||||||||||||
5,470 | Other Securities | 0.0 | 312,147 | |||||||||
LUXEMBOURG — 0.2% | ||||||||||||
2,908,323 | Other Securities | 0.2 | 13,027,491 | |||||||||
MALAYSIA — 0.7% | ||||||||||||
37,083,078 | Other Securities | 0.7 | 42,067,685 | |||||||||
MALTA — 0.0% | ||||||||||||
18,299 | Other Securities | 0.0 | 324,985 | |||||||||
MAURITIUS — 0.0% | ||||||||||||
141,022 | Other Securities | 0.0 | 313,251 | |||||||||
MEXICO — 0.6% | ||||||||||||
11,266,089 | Other Securities | 0.6 | 30,925,848 | |||||||||
MONACO — 0.0% | ||||||||||||
480 | Other Securities | 0.0 | 20,892 | |||||||||
MONGOLIA — 0.0% | ||||||||||||
379,000 | Other Securities | 0.0 | 112,330 |
10 |
|
Old Westbury Funds, Inc. | |
Global Small & Mid Cap Fund | |
Condensed Portfolio of Investments - (Continued) | April 30, 2013 |
(Unaudited) |
Shares |
Percentage of
Net Assets (%) |
Value | |||||||
NETHERLANDS — 0.9% | |||||||||
528,479 | Koninklijke Boskalis Westminster NV | 0.4 | $ | 22,010,389 | |||||
1,812,404 | Other Securities | 0.5 | 30,987,542 | ||||||
52,997,931 | |||||||||
NEW ZEALAND — 0.4% | |||||||||
6,721,470 | Other Securities | 0.4 | 21,081,718 | ||||||
NORWAY — 0.2% | |||||||||
2,505,222 | Other Securities | 0.2 | 11,157,591 | ||||||
PAPUA NEW GUINEA — 0.0% | |||||||||
162,499 | Other Securities | 0.0 | 13,477 | ||||||
PERU — 0.1% | |||||||||
3,070,428 | Other Securities | 0.1 | 7,169,514 | ||||||
PHILIPPINES — 0.3% | |||||||||
37,381,601 | Other Securities | 0.3 | 16,268,750 | ||||||
POLAND — 0.1% | |||||||||
2,223,329 | Other Securities | 0.1 | 6,125,071 | ||||||
PORTUGAL — 0.1% | |||||||||
5,634,057 | Other Securities | 0.1 | 3,639,350 | ||||||
RUSSIA — 0.0% | |||||||||
24,397 | Other Securities | 0.0 | 194,241 | ||||||
SINGAPORE — 1.8% | |||||||||
10,478,000 | CapitaMall Trust REIT | 0.3 | 19,736,105 | ||||||
5,235,000 | SATS Ltd.(b) | 0.2 | 13,388,203 | ||||||
3,970,000 | SIA Engineering Co. Ltd.(b) | 0.3 | 16,309,329 | ||||||
45,601,114 | Other Securities | 1.0 | 55,210,320 | ||||||
104,643,957 | |||||||||
SOUTH AFRICA — 0.7% | |||||||||
7,079,793 | Other Securities | 0.7 | 38,188,651 | ||||||
SOUTH KOREA — 1.3% | |||||||||
3,900,030 | Other Securities | 1.3 | 74,665,648 | ||||||
SPAIN — 0.4% | |||||||||
5,212,489 | Other Securities | 0.4 | 25,216,236 | ||||||
SWEDEN — 0.8% | |||||||||
4,946,596 | Other Securities | 0.8 | 45,564,265 | ||||||
SWITZERLAND — 1.5% | |||||||||
235,000 | Allied World Assurance Co. Holdings AG | 0.4 | 21,340,350 | ||||||
1,585,838 | Other Securities | 1.1 | 60,973,816 | ||||||
82,314,166 | |||||||||
TAIWAN — 1.2% | |||||||||
85,792,772 | Other Securities | 1.2 | 68,805,269 | ||||||
THAILAND — 0.5% | |||||||||
66,468,270 | Other Securities | 0.5 | 27,434,528 | ||||||
TURKEY — 0.2% | |||||||||
4,311,767 | Other Securities | 0.2 | 10,425,407 | ||||||
UKRAINE — 0.0% | |||||||||
2,491 | Other Securities | 0.0 | 45,171 |
11 |
|
Old Westbury Funds, Inc. | |
Global Small & Mid Cap Fund | |
Condensed Portfolio of Investments - (Continued) | April 30, 2013 |
(Unaudited) |
(a) | Cost for federal income tax purposes is $4,387,247,606 and net unrealized appreciation of investments is as follows: |
Unrealized appreciation | $ | 1,412,737,897 | ||
Unrealized depreciation | (143,374,634 | ) | ||
Net unrealized appreciation | $ | 1,269,363,263 |
(b) | This security is considered either fully or partially illiquid. These securities, or portions thereof have a value of $490,675,680 or 8.61% of net assets. |
(c) | Non-income producing security. |
(d) | Rate shown represents current yield at April 30, 2013. |
(e) | The rate represents the annualized yield at time of purchase. |
This Condensed Portfolio of Investments does not reflect the complete portfolio holdings of the Fund. It includes the Fund’s 50 largest holdings and each investment of any issuer that exceeds 1% of the Fund’s net assets. “Other Securities” represent all issues not required to be disclosed under the rules adopted by the U.S. Securities and Exchange Commission (“SEC”). The complete Portfolio of Investments is available (i) without charge, upon request, by calling (800) 607-2200; and (ii) on the SEC’s website at http://www.sec.gov. | |
Common stocks and Rights with a value of $3,167,969 (cost of $4,668,006) or 0.06% of net assets were fair valued by the Board of Directors. |
ADR — American Depositary Receipt | |
REIT — Real Estate Investment Trust |
12 |
|
Old Westbury Funds, Inc. | |
Global Small & Mid Cap Fund | |
Condensed Portfolio of Investments - (Continued) | April 30, 2013 |
(Unaudited) |
Portfolio diversification by Sector (Unaudited)
Sector |
Percentage of
Net Assets |
||||
Banks | 2.2% | ||||
Consumer Discretionary | 13.6% | ||||
Consumer Staples | 5.7% | ||||
Diversified Financials | 1.4% | ||||
Energy | 4.6% | ||||
Health Care | 13.1% | ||||
Industrials | 17.1% | ||||
Information Technology | 13.3% | ||||
Insurance | 4.0% | ||||
Materials | 9.8% | ||||
Real Estate | 2.8% | ||||
Telecommunication Services | 0.5% | ||||
Utilities | 1.1% | ||||
Other* | 10.8% | ||||
Total | 100.0% |
* | Includes cash and equivalents, exchange traded funds, rights/warrants, U.S. government agencies and securities, investment companies, pending trades and Fund share transactions, interest and dividends receivable, prepaids and accrued expenses payable. |
13 |
|
Old Westbury Funds, Inc. | |
Global Opportunities Fund | |
Portfolio of Investments | April 30, 2013 |
(Unaudited) |
Shares | Value | |||||||
COMMON STOCKS — 22.5% | ||||||||
AUSTRALIA — 0.5% | ||||||||
167,623 | Amcor Ltd. | $ | 1,718,631 | |||||
40,691 | ASX Ltd. | 1,586,552 | ||||||
52,575 | Australia & New Zealand Banking Group Ltd. | 1,735,422 | ||||||
188,060 | BC Iron Ltd. | 670,668 | ||||||
151,246 | BHP Billiton Ltd. | 5,127,248 | ||||||
22,420 | Commonwealth Bank of Australia | 1,707,183 | ||||||
729,770 | Emeco Holdings Ltd. | 348,014 | ||||||
1,603,100 | Grange Resources Ltd. | 274,219 | ||||||
50,460 | Iluka Resources Ltd. | 468,191 | ||||||
113,266 | JB Hi-Fi Ltd. | 1,878,764 | ||||||
55,917 | Monadelphous Group Ltd. | 1,213,293 | ||||||
300,890 | NIB Holdings Ltd. | 733,041 | ||||||
217,310 | NRW Holdings Ltd. | 292,871 | ||||||
1,303,860 | Roc Oil Co. Ltd.(b) | 615,028 | ||||||
181,760 | Skilled Group Ltd. | 537,027 | ||||||
103,988 | Sonic Healthcare Ltd. | 1,429,484 | ||||||
276,240 | St Barbara Ltd.(b) | 171,827 | ||||||
430,677 | Tatts Group Ltd. | 1,459,997 | ||||||
316,016 | Telstra Corp Ltd. | 1,631,515 | ||||||
132,007 | UGL Ltd. | 1,376,726 | ||||||
555,620 | UXC Ltd. | 679,693 | ||||||
1,137,090 | Virgin Australia Holdings Ltd.(b) | 536,363 | ||||||
37,824 | Wesfarmers Ltd. | 1,700,629 | ||||||
52,217 | Westpac Banking Corp. | 1,829,706 | ||||||
175,260 | Woolworths Ltd. | 6,615,401 | ||||||
36,337,493 | ||||||||
BELGIUM — 0.1% | ||||||||
34,700 | Colruyt SA | 1,751,383 | ||||||
72,780 | D’ieteren SA NV | 3,354,668 | ||||||
5,106,051 | ||||||||
BERMUDA — 0.3% | ||||||||
79,739 | Arch Capital Group Ltd.(b) | 4,230,951 | ||||||
12,460 | Everest Re Group Ltd. | 1,681,975 | ||||||
400,000 | Nabors Industries Ltd. | 5,916,000 | ||||||
56,038 | RenaissanceRe Holdings Ltd. | 5,261,408 | ||||||
17,090,334 | ||||||||
BRAZIL — 0.1% | ||||||||
161,520 | Brasil Brokers Participacoes SA | 570,759 | ||||||
25,120 | Cia Hering | 510,875 | ||||||
31,610 | Cosan SA Industria e Comercio | 745,716 | ||||||
66,820 | Equatorial Energia SA | 707,693 | ||||||
45,640 | Ez Tec Empreendimentos e Participacoes SA | 624,349 | ||||||
24,480 | Multiplus SA | 403,524 | ||||||
88,340 | OSX Brasil SA(b) | 135,551 | ||||||
3,698,467 |
Shares | Value | |||||||
CANADA — 0.8% | ||||||||
169,403 | Allied Properties Real Estate Investment Trust | $ | 5,799,503 | |||||
500,000 | Asian Coast Development Ltd.(b)(c)(d) | 0 | ||||||
49,100 | Barrick Gold Corp. | 967,915 | ||||||
34,141 | BCE, Inc. | 1,599,200 | ||||||
91,785 | Boardwalk Real Estate Investment Trust, REIT | 6,001,169 | ||||||
89,941 | Canadian Imperial Bank of Commerce | 7,192,959 | ||||||
60,699 | Canadian National Railway Co. | 5,942,471 | ||||||
39,738 | Dundee Real Estate Investment Trust - Class A, REIT | 1,459,828 | ||||||
310,543 | First Capital Realty Inc(c) | 5,998,478 | ||||||
57,438 | Great-West Lifeco Inc. | 1,559,883 | ||||||
34,571 | IGM Financial Inc. | 1,540,416 | ||||||
275,124 | RioCan Real Estate Investment Trust, REIT | 8,058,871 | ||||||
314,589 | Shaw Communications, Inc. - Class B | 7,163,305 | ||||||
53,283,998 | ||||||||
CHILE — 0.1% | ||||||||
8,065,727 | Aguas Andinas SA - Class A | 6,422,439 | ||||||
47,190 | ENTEL Chile SA | 909,832 | ||||||
7,332,271 | ||||||||
CHINA — 0.2% | ||||||||
3,110,415 | Bank of China Ltd. - H Shares | 1,454,973 | ||||||
1,380,000 | China BlueChemical Ltd. - H Shares | 841,144 | ||||||
2,276,507 | China CITIC Bank Corp. Ltd. - H Shares | 1,281,977 | ||||||
1,811,986 | China Construction Bank Corp. - H Shares | 1,517,742 | ||||||
1,351,098 | China Petroleum & Chemical Corp. - H Shares | 1,478,170 | ||||||
1,396,000 | Dongyue Group | 780,737 | ||||||
2,066,243 | Industrial & Commercial Bank of China Ltd. - H Shares | 1,453,798 | ||||||
581,255 | Shandong Airlines Co. Ltd. - B Shares(c) | 799,959 | ||||||
4,826,000 | Shanghai Jin Jiang International Hotels Group Co. Ltd. - H Shares(c) | 771,150 | ||||||
623,110 | Shanghai Mechanical and Electrical Industry Co. Ltd. - B Shares | 624,356 | ||||||
1,233,000 | Travelsky Technology Ltd. - H Shares | 783,321 | ||||||
1,959,000 | Yangzijiang Shipbuilding Holdings Ltd. | 1,510,960 | ||||||
904,584 | Yanzhou Coal Mining Co. Ltd. - H Shares | 941,868 | ||||||
28,020 | Zhongpin, Inc.(b) | 363,139 | ||||||
14,603,294 |
14 |
|
Old Westbury Funds, Inc. | |
Global Opportunities Fund | |
Portfolio of Investments - (Continued) |
April
30, 2013
(Unaudited) |
Shares | Value | |||||||
FINLAND — 0.1% | ||||||||
49,741 | Orion Oyj - Class B | $ | 1,428*,040 | |||||
204,255 | Sampo Oyj - A Shares | 8,150,510 | ||||||
9,578,550 | ||||||||
FRANCE — 0.5% | ||||||||
230,700 | Etablissements Maurel et Prom | 3,923,841 | ||||||
1,049,020 | Natixis | 4,600,420 | ||||||
64,140 | Sanofi | 7,029,527 | ||||||
65,661 | Sodexo | 5,483,208 | ||||||
175,000 | Total SA - ADR | 8,792,000 | ||||||
426,290 | UBISOFT Entertainment(b) | 4,755,082 | ||||||
34,584,078 | ||||||||
GERMANY — 0.1% | ||||||||
45,330 | Bayerische Motoren Werke AG | 4,181,800 | ||||||
8,299 |
Muenchener Rueckversi-
cherungs AG |
1,659,625 | ||||||
14,668 | Volkswagen AG | 2,851,194 | ||||||
8,692,619 | ||||||||
HONG KONG — 0.3% | ||||||||
1,584,000 | AMVIG Holdings Ltd.(c) | 612,359 | ||||||
199,500 | China Mobile Ltd. | 2,183,917 | ||||||
14,140,000 |
China Power New Energy
Development Co. Ltd.(b) |
801,737 | ||||||
978,000 |
China Resources Cement
Holdings Ltd. |
563,347 | ||||||
1,548,000 | Guangdong Investment Ltd. | 1,498,100 | ||||||
1,100,000 |
Lee & Man Chemical Co.
Ltd.(c) |
510,299 | ||||||
1,728,400 | Link REIT (The) | 9,788,880 | ||||||
794,000 | Pacific Textile Holdings Ltd. | 980,203 | ||||||
2,212,000 | Pico Far East Holdings Ltd.(c) | 803,830 | ||||||
11,160,000 |
Shougang Concord International
Enterprises Co. Ltd.(b) |
575,247 | ||||||
5,375,137 |
Shougang Fushan Resources
Group Ltd. |
2,098,756 | ||||||
1,050,000 |
TCL Multimedia Technology
Holdings Ltd. |
948,500 | ||||||
21,365,175 | ||||||||
INDIA — 0.0% | ||||||||
106,290 | Gitanjali Gems Ltd.(b) | 1,210,611 | ||||||
434,500 | India Cements Ltd.(c) | 663,827 | ||||||
185,240 | Infotech Enterprises Ltd.(c) | 594,384 | ||||||
2,468,822 | ||||||||
INDONESIA — 0.0% | ||||||||
1,656,500 | AKR Corporindo Tbk PT | 877,447 | ||||||
IRELAND — 0.7% | ||||||||
1,165,340 | Seagate Technology Plc | 42,767,978 | ||||||
600,000 | Warner Chilcott Co. Plc | 8,628,000 | ||||||
51,395,978 | ||||||||
ISRAEL — 0.1% | ||||||||
112,371 | Israel Chemicals Ltd. | 1,336,541 |
Shares | Value | |||||||
ISRAEL (continued) | ||||||||
200,000 |
Teva Pharmaceutical Industries
Ltd. - ADR |
$ | 7,658,000 | |||||
8,994,541 | ||||||||
ITALY — 0.3% | ||||||||
84,234 | Atlantia SpA | 1,505,347 | ||||||
448,210 |
Autostrada Torino-Milano
SpA(c) |
5,341,947 | ||||||
71,600 | DiaSorin SpA | 2,685,483 | ||||||
453,770 |
Societa Iniziative Autostradali e
Servizi SpA(c) |
4,105,461 | ||||||
1,765,037 |
Terna Rete Elettrica Nazionale
SpA |
8,261,153 | ||||||
21,899,391 | ||||||||
JAPAN — 1.8% | ||||||||
30,300 | Alfresa Holdings Corp. | 1,799,631 | ||||||
4,501,000 | ANA Holdings, Inc. | 9,788,296 | ||||||
1 | Aoyama Trading Co. Ltd. | 30 | ||||||
23,000 | Arcs Co. Ltd. | 455,824 | ||||||
227,139 | Asahi Glass Co. Ltd. | 1,780,112 | ||||||
20,000 | Asatsu-DK, Inc. | 511,463 | ||||||
1,000 | Bic Camera, Inc. | 438,529 | ||||||
21,700 | Calbee, Inc. | 2,145,848 | ||||||
43,321 | Canon, Inc. | 1,553,130 | ||||||
13,900 | Central Japan Railway Co. | 1,675,386 | ||||||
71,000 | Chugoku Bank Ltd. (The) | 1,235,226 | ||||||
16,804 |
Daito Trust Construction Co.
Ltd. |
1,627,222 | ||||||
36,000 | Doshisha Co. Ltd. | 567,226 | ||||||
46,000 | East Japan Railway Co. | 3,878,751 | ||||||
37,472 | Eisai Co. Ltd. | 1,708,602 | ||||||
54,000 | Elpida Memory, Inc.(b)(c)(d) | 0 | ||||||
46,900 | Exedy Corp. | 1,173,883 | ||||||
30,400 | Fields Corp. | 615,890 | ||||||
28,000 | Fuji Soft, Inc. | 747,356 | ||||||
83,000 | Fujitec Co. Ltd. | 897,389 | ||||||
34,000 | Goldcrest Co. Ltd. | 1,117,813 | ||||||
22,000 | G-Tekt Corp. | 692,825 | ||||||
8,000 | Hakuhodo DY Holdings, Inc. | 658,973 | ||||||
17,000 | Hamakyorex Co. Ltd. | 602,503 | ||||||
32,800 |
Hisamitsu Pharmaceutical Co.,
Inc. |
1,927,927 | ||||||
106,000 | Hokuetsu Kishu Paper Co. Ltd. | 470,821 | ||||||
1 | Hoshizaki Electric Co. Ltd. | 33 | ||||||
128,691 | ITOCHU Corp. | 1,590,734 | ||||||
31,300 | Itochu Techno-Solutions Corp. | 1,486,577 | ||||||
792 |
Japan Retail Fund Investment
Corp., REIT |
1,876,719 | ||||||
800 |
Jupiter Telecommunications Co.
Ltd. |
1,006,924 | ||||||
1 | Kaken Pharmaceutical Co. Ltd. | 18 | ||||||
27,000 | Kato Sangyo Co. Ltd. | 572,488 | ||||||
606,200 | Kewpie Corp. | 9,147,255 | ||||||
53,000 | Konaka Co. Ltd. | 733,415 | ||||||
12,000 | Kusuri No Aoki Co. Ltd. | 875,212 | ||||||
1 | KYORIN Holdings, Inc. | 27 |
15 |
|
Old Westbury Funds, Inc. | |
Global Opportunities Fund | |
Portfolio of Investments - (Continued) |
April
30, 2013
(Unaudited) |
Shares | Value | |||||||
JAPAN (continued) | ||||||||
1 | Lawson, Inc. | $ | 79 | |||||
24,000 | Macnica, Inc. | 489,922 | ||||||
39,400 |
McDonald’s Holdings Co. Japan
Ltd. |
1,149,040 | ||||||
100,896 | Mitsui & Co. Ltd. | 1,384,817 | ||||||
157,000 | Mitsui-Soko Co. Ltd. | 1,067,764 | ||||||
27,000 | Nagawa Co. Ltd.(c) | 444,530 | ||||||
40,000 | NET One Systems Co. Ltd. | 350,003 | ||||||
78,000 | NGK Spark Plug Co. Ltd. | 1,313,002 | ||||||
328,000 | Nippon Express Co. Ltd. | 1,705,862 | ||||||
40,000 |
Nippon Television Network
Corp. |
706,160 | ||||||
121,000 |
Nissan Tokyo Sales Holdings
Co. Ltd. |
417,049 | ||||||
80,900 | Nomura Research Institute Ltd. | 2,435,672 | ||||||
1,024 | NTT DOCOMO, Inc. | 1,691,173 | ||||||
84,000 | Okabe Co. Ltd. | 869,426 | ||||||
25,700 | Oracle Corp. Japan | 1,100,657 | ||||||
22,100 | Oriental Land Co. Ltd. | 3,572,816 | ||||||
295,600 | Otsuka Holdings Co. Ltd. | 10,643,237 | ||||||
15,000 | Relo Holdings, Inc. | 841,668 | ||||||
523,750 | Resona Holdings, Inc. | 2,793,763 | ||||||
126,000 | Riken Corp. | 507,955 | ||||||
17,600 | Ryohin Keikaku Co. Ltd. | 1,660,973 | ||||||
116,000 | San-Ai Oil Co. Ltd.(c) | 533,087 | ||||||
43,400 | Santen Pharmaceutical Co. Ltd. | 2,172,560 | ||||||
90,000 | Sanyo Denki Co. Ltd. | 683,182 | ||||||
18,800 | Sawai Pharmaceutical Co. Ltd. | 2,426,055 | ||||||
31,000 | SCSK Corp. | 691,009 | ||||||
56,000 | Showa Corp. | 811,694 | ||||||
1,000 | SKY Perfect JSAT Holdings, Inc. | 502,641 | ||||||
121,233 | Sumitomo Corp. | 1,512,226 | ||||||
885,100 |
Sumitomo Osaka Cement Co.
Ltd. |
2,651,169 | ||||||
1 | Suzuken Co. Ltd. | 39 | ||||||
69,000 | Tadano Ltd. | 863,517 | ||||||
51,000 | Takara Leben Co. Ltd. | 1,047,361 | ||||||
208,500 | Toho Gas Co. Ltd. | 1,240,499 | ||||||
20,000 | Tokai Corp. | 610,555 | ||||||
12,000 | Token Corp. | 771,811 | ||||||
50,000 |
Tokyo Broadcasting System
Holdings, Inc. |
790,378 | ||||||
888,000 | Tokyo Gas Co. Ltd. | 5,064,656 | ||||||
542,020 | TonenGeneral Sekiyu KK | 5,471,074 | ||||||
253,000 | Tosoh Corp. | 833,082 | ||||||
162,400 | Toyo Construction Co. Ltd. | 491,440 | ||||||
21,000 | Toyo Tanso Co. Ltd. | 458,409 | ||||||
54,000 | Tsukui Corp. | 802,647 | ||||||
1 | Unipres Corp. | 22 | ||||||
24,000 | Universal Entertainment Corp. | 601,939 | ||||||
77,400 | West Japan Railway Co. | 3,739,591 | ||||||
88,400 | Yamazaki Baking Co. Ltd. | 1,155,271 | ||||||
35,000 | Yellow Hat Ltd. | 700,826 | ||||||
127,132,366 |
16 |
|
Old Westbury Funds, Inc. | |
Global Opportunities Fund | |
Portfolio of Investments - (Continued) | April 30, 2013 |
(Unaudited) |
Shares | Value | |||||||
PUERTO RICO (continued) | ||||||||
64,710 | Triple-S Management Corp. - Class B(b) | $ | 1,166,721 | |||||
3,170,329 | ||||||||
SINGAPORE — 0.7% | ||||||||
550,000 | Avago Technologies Ltd. | 17,578,000 | ||||||
5,410,000 | Mapletree Commercial Trust, REIT(c) | 6,434,724 | ||||||
800,000 | Metro Holdings Ltd. | 597,548 | ||||||
6,186,000 | Singapore Post Ltd.(c) | 6,478,802 | ||||||
2,247,024 | Singapore Press Holdings Ltd. | 8,136,500 | ||||||
1,152,000 | Stamford Land Corp. Ltd.(c) | 556,499 | ||||||
1,865,000 | StarHub Ltd. | 7,162,012 | ||||||
46,944,085 | ||||||||
SOUTH AFRICA — 0.3% | ||||||||
304,640 | Aeci Ltd.(c) | 3,408,464 | ||||||
1 | AngloGold Ashanti Ltd. | 19 | ||||||
234,488 | Bidvest Group Ltd. | 6,097,968 | ||||||
75,802 | Exxaro Resources Ltd. | 1,188,791 | ||||||
110,719 | Foschini Group Ltd. (The) | 1,418,921 | ||||||
22,600 | Gold Fields Ltd. | 160,858 | ||||||
21,892 | Kumba Iron Ore Ltd. | 1,154,627 | ||||||
1,196,968 | Sanlam Ltd. | 6,134,569 | ||||||
33,305 | Sasol Ltd. | 1,439,425 | ||||||
72,200 | Sibanye Gold Ltd.(b) | 68,390 | ||||||
21,072,032 | ||||||||
SOUTH KOREA — 0.1% | ||||||||
67,000 | Daishin Securities Co. Ltd. | 568,219 | ||||||
54,550 | Halla Engineering & Construction Corp. | 292,241 | ||||||
7,930 | Kia Motors Corp. | 394,592 | ||||||
11,510 | Korean Air Lines Co. Ltd.(b) | 368,930 | ||||||
21,401 | KT&G Corp. | 1,540,996 | ||||||
5,030 | Kumho Petrochemical Co. Ltd. | 435,267 | ||||||
3,010 | OCI Co. Ltd. | 386,738 | ||||||
17,440 | Seah Besteel Corp. | 477,450 | ||||||
9,156 | SK Telecom Co. Ltd. | 1,608,722 | ||||||
6,073,155 | ||||||||
SPAIN — 0.1% | ||||||||
64,440 | Acciona SA | 4,221,998 | ||||||
124,477 | Indra Sistemas SA | 1,673,726 | ||||||
28,180 | Red Electrica Corp. SA | 1,498,940 | ||||||
7,394,664 | ||||||||
SWEDEN — 0.2% | ||||||||
207,246 | Investor AB - B Shares | 6,107,650 | ||||||
61,069 | NCC AB - B Shares | 1,446,385 | ||||||
93,082 | Tele2 AB - B Shares | 1,595,638 | ||||||
220,576 | TeliaSonera AB | 1,517,576 | ||||||
10,667,249 | ||||||||
SWITZERLAND — 0.3% | ||||||||
44,200 | Allied World Assurance Co. Holdings AG | 4,013,802 |
Shares | Value | |||||||
SWITZERLAND (continued) | ||||||||
4,982 | Givaudan SA | $ | 6,408,337 | |||||
84,998 | Nestle SA | 6,069,980 | ||||||
63,575 | PSP Swiss Property AG | 5,965,712 | ||||||
22,457,831 | ||||||||
TAIWAN — 0.4% | ||||||||
854,900 | Chunghwa Telecom Co. Ltd. | 2,717,187 | ||||||
2,002,200 | Compal Electronics, Inc. | 1,295,813 | ||||||
1,699,000 | Continental Holdings Corp.(c) | 647,660 | ||||||
1,289,348 | Far Eastern New Century Corp. | 1,387,124 | ||||||
914,000 | Formosa Advanced Technologies Co. Ltd.(c) | 684,447 | ||||||
563,070 | Formosa Chemicals & Fibre Corp. | 1,318,384 | ||||||
556,031 | Formosa Plastics Corp. | 1,349,004 | ||||||
69,000 | HTC Corp. | 703,748 | ||||||
1 | Macronix International | 0 | ||||||
1,345,000 | Micro-Star International Co. Ltd. | 628,931 | ||||||
654,154 | Quanta Computer, Inc. | 1,352,107 | ||||||
404,386 | Radiant Opto-Electronics Corp. | 1,644,291 | ||||||
500,000 | Silicon Motion Technology Corp. - ADR | 5,450,000 | ||||||
336,989 | Simplo Technology Co. Ltd. | 1,433,048 | ||||||
728,028 | Synnex Technology International Corp. | 1,230,977 | ||||||
1,136,207 | Taiwan Cement Corp. | 1,509,193 | ||||||
427,716 | Taiwan Mobile Co. Ltd. | 1,557,992 | ||||||
408,000 | Taiwan Prosperity Chemical Corp. | 453,456 | ||||||
67,700 | TPK Holding Co. Ltd. | 1,374,095 | ||||||
3,919,163 | United Microelectronics Corp. | 1,493,988 | ||||||
4,444,000 | Winbond Electronics Corp.(b) | 1,234,779 | ||||||
1,329,820 | Wistron Corp. | 1,349,556 | ||||||
30,815,780 | ||||||||
THAILAND — 0.1% | ||||||||
408,300 | Advanced Info Service Public Co. Ltd. - FOR(c) | 3,756,082 | ||||||
390,800 | Bangchak Petroleum Public Co. Ltd. | 482,675 | ||||||
121,569 | Banpu Public Co. Ltd. - FOR | 1,412,437 | ||||||
5,651,194 | ||||||||
TURKEY — 0.0% | ||||||||
2 | Enka Insaat ve Sanayi AS | 6 | ||||||
1,262,116 | Eregli Demir ve Celik Fabrikalari TAS | 1,443,223 | ||||||
271,730 | Koza Anadolu Metal Madencilik Isletmeleri AS(b) | 676,009 | ||||||
2,119,238 | ||||||||
UNITED KINGDOM — 0.8% | ||||||||
77,356 | Admiral Group Plc | 1,539,262 | ||||||
31,727 | AstraZeneca Plc | 1,647,289 | ||||||
143,168 | British American Tobacco Plc | 7,930,428 |
17 |
|
Old Westbury Funds, Inc. | |
Global Opportunities Fund | |
Portfolio of Investments - (Continued) | April 30, 2013 |
(Unaudited) |
Shares | Value | |||||||
UNITED KINGDOM (continued) | ||||||||
1,377,810 | Carphone Warehouse Group Plc(c) | $ | 5,029,520 | |||||
198,252 | Diageo Plc | 6,048,231 | ||||||
41,548 | Imperial Tobacco Group Plc | 1,484,387 | ||||||
108,498 | Lancashire Holdings Ltd. | 1,426,652 | ||||||
370,590 | Mondi Plc | 4,901,711 | ||||||
141,249 | Pennon Group Plc | 1,504,050 | ||||||
88,359 | Reckitt Benckiser Group Plc | 6,445,375 | ||||||
87,300 | Smith & Nephew Plc | 996,037 | ||||||
260,307 | Tesco Plc | 1,480,520 | ||||||
148,787 | Unilever Plc | 6,438,955 | ||||||
551,495 | Vodafone Group Plc | 1,680,776 | ||||||
727,109 | WM Morrison Supermarkets Plc | 3,299,137 | ||||||
51,852,330 | ||||||||
UNITED STATES — 12.4% | ||||||||
57,725 | 3M Co. | 6,044,385 | ||||||
69,500 | Abbott Laboratories | 2,565,940 | ||||||
35,040 | Allstate Corp. (The) | 1,726,070 | ||||||
100,000 | American Capital Agency Corp., REIT | 3,331,000 | ||||||
1,080,640 | American International Group, Inc.(b) | 44,760,109 | ||||||
28,210 | America’s Car-Mart, Inc.(b) | 1,305,277 | ||||||
24,010 | Ameriprise Financial, Inc. | 1,789,465 | ||||||
23,100 | Amgen, Inc. | 2,407,251 | ||||||
15,030 | Apache Corp. | 1,110,416 | ||||||
114,000 | Apple, Inc. | 50,473,500 | ||||||
1,220,060 | Applied Materials, Inc. | 17,703,071 | ||||||
36,940 | Arrow Electronics, Inc.(b) | 1,449,156 | ||||||
26,060 | Ascent Capital Group, Inc. - Class A(b) | 1,732,729 | ||||||
2,950,000 | Bank of America Corp. | 36,314,500 | ||||||
59,420 | Bank of New York Mellon Corp. (The) | 1,676,832 | ||||||
67,150 | Becton Dickinson and Co. | 6,332,245 | ||||||
250,000 | Bill Barrett Corp.(b) | 4,965,000 | ||||||
84,800 | Blucora, Inc.(b) | 1,252,496 | ||||||
96,100 | BMC Software, Inc.(b) | 4,370,628 | ||||||
40,617 | Bristol-Myers Squibb Co. | 1,613,307 | ||||||
219,390 | Brocade Communications Systems, Inc.(b) | 1,276,850 | ||||||
169,390 | Brooks Automation, Inc. | 1,646,471 | ||||||
139,200 | Campbell Soup Co. | 6,460,272 | ||||||
186,840 | CapitalSource, Inc. | 1,672,218 | ||||||
61,340 | CF Industries Holdings, Inc. | 11,440,523 | ||||||
32,300 | Chemed Corp. | 2,636,326 | ||||||
17,940 | Chubb Corp. (The) | 1,579,976 | ||||||
283,600 | Cisco Systems, Inc. | 5,932,912 | ||||||
150,000 | Citigroup, Inc. | 6,999,000 | ||||||
141,505 | Clorox Co. (The) | 12,204,806 | ||||||
136,840 | CNO Financial Group, Inc. | 1,549,029 | ||||||
125,000 | Coach, Inc. | 7,357,500 | ||||||
54,280 | Coeur d’Alene Mines Corp.(b) | 827,227 | ||||||
26,550 | Coinstar, Inc.(b) | 1,402,106 | ||||||
54,623 | Colgate-Palmolive Co. | 6,522,532 |
Shares | Value | |||||||
UNITED STATES (continued) | ||||||||
85,070 | Computer Task Group, Inc. | $ | 1,745,636 | |||||
56,018 | Consolidated Edison, Inc. | 3,565,546 | ||||||
25,020 | Contango Oil & Gas Co. | 941,252 | ||||||
400,000 | Corning, Inc. | 5,800,000 | ||||||
76,070 | Crocs, Inc.(b) | 1,218,641 | ||||||
31,861 | Darden Restaurants, Inc. | 1,644,983 | ||||||
52,440 | Delek US Holdings, Inc. | 1,892,560 | ||||||
776,000 | Dell, Inc. | 10,398,400 | ||||||
43,880 | Deluxe Corp. | 1,673,583 | ||||||
272,040 | Denny’s Corp.(b) | 1,542,467 | ||||||
72,580 | Destination Maternity Corp. | 1,723,775 | ||||||
23,003 | Digital Realty Trust, Inc., REIT | 1,622,172 | ||||||
225,000 | Dollar General Corp.(b) | 11,720,250 | ||||||
30,330 | Dr Pepper Snapple Group, Inc. | 1,481,014 | ||||||
21,695 | Duke Energy Corp. | 1,631,464 | ||||||
161,573 | El Paso Pipeline Partners LP | 6,921,787 | ||||||
73,720 | Employers Holdings, Inc. | 1,669,758 | ||||||
26,949 | Enterprise Products Partners LP | 1,634,457 | ||||||
39,050 | ePlus, Inc.(c) | 1,775,994 | ||||||
300,000 | Exelis, Inc. | 3,351,000 | ||||||
1,500 | Exelon Corp. | 56,265 | ||||||
263,300 | Family Dollar Stores, Inc. | 16,158,721 | ||||||
547,300 | Freeport-McMoRan Copper & Gold, Inc. | 16,654,339 | ||||||
72,600 | FTI Consulting, Inc.(b) | 2,404,512 | ||||||
2,700 | GameStop Corp. - Class A | 94,230 | ||||||
139,109 | General Mills, Inc. | 7,013,876 | ||||||
1,725,000 | General Motors Co., Escrow Shares(b)(c)(d) | 258,750 | ||||||
34,795 | Genesis Energy LP | 1,672,596 | ||||||
35,200 | Gilead Sciences, Inc.(b) | 1,782,528 | ||||||
11,500 | Goldman Sachs Group, Inc. (The) | 1,679,805 | ||||||
885,800 | Hewlett-Packard Co. | 18,247,480 | ||||||
166,080 | hhgregg, Inc.(b) | 2,243,741 | ||||||
134,010 | HollyFrontier Corp. | 6,626,795 | ||||||
127,059 | IDACORP, Inc. | 6,252,573 | ||||||
425,000 | Intel Corp. | 10,178,750 | ||||||
175,510 | iStar Financial, Inc.(b) | 2,049,957 | ||||||
32,900 | Jack in the Box, Inc.(b) | 1,179,465 | ||||||
99,900 | Kellogg Co. | 6,497,496 | ||||||
173,093 | Kimberly-Clark Corp. | 17,861,467 | ||||||
150,000 | Kohl’s Corp. | 7,059,000 | ||||||
817,560 | Kulicke & Soffa Industries, Inc.(b) | 9,450,994 | ||||||
17,600 | Lancaster Colony Corp. | 1,389,168 | ||||||
130,290 | Landec Corp.(b) | 1,747,189 | ||||||
48,230 | Legacy Reserves LP | 1,286,535 | ||||||
51,100 | Legg Mason, Inc. | 1,628,046 | ||||||
105,500 |
Lexmark International, Inc. -
Class A |
3,197,705 | ||||||
32,320 | Lincoln Electric Holdings, Inc. | 1,705,203 | ||||||
55,140 | Lincoln National Corp. | 1,875,311 | ||||||
40,508 | LINN Energy LLC | 1,564,014 | ||||||
24,920 | Littelfuse, Inc. | 1,739,914 | ||||||
37,444 | Lorillard, Inc. | 1,605,973 |
18 |
|
Old Westbury Funds, Inc. | |
G lobal Opportunities Fund | |
Portfolio of Investments - (Continued) | April 30, 2013 |
(Unaudited) |
Shares | Value | |||||||
UNITED STATES (continued) | ||||||||
47,755 | Main Street Capital Corp. | $ | 1,435,515 | |||||
93,133 | McCormick & Co., Inc. | 6,699,988 | ||||||
62,465 | McDonald’s Corp. | 6,380,175 | ||||||
39,704 | Mercury General Corp. | 1,814,870 | ||||||
1,125,500 | MGM Resorts International(b) | 15,892,060 | ||||||
525,000 | Microsoft Corp. | 17,377,500 | ||||||
473,500 | Morgan Stanley | 10,488,025 | ||||||
250,000 | Mosaic Co. (The) | 15,397,500 | ||||||
350,000 | Myriad Genetics, Inc.(b) | 9,747,500 | ||||||
57,130 | NASDAQ OMX Group, Inc. (The) | 1,684,192 | ||||||
29,580 | National Healthcare Corp.(c) | 1,373,399 | ||||||
57,060 | Nelnet, Inc. - Class A | 1,940,040 | ||||||
1,134,700 | NetApp, Inc.(b) | 39,589,683 | ||||||
11,890 | Netflix, Inc.(b) | 2,569,072 | ||||||
355,000 | Newmont Mining Corp. | 11,502,000 | ||||||
141,840 | Nexstar Broadcasting Group, Inc. - Class A | 3,453,804 | ||||||
73,450 | Northern Oil and Gas, Inc.(b) | 946,771 | ||||||
20,020 | Northrop Grumman Corp. | 1,516,315 | ||||||
100,000 | Nu Skin Enterprises, Inc. - Class A | 5,073,000 | ||||||
2,314,000 | NVIDIA Corp. | 31,863,780 | ||||||
257,500 | Occidental Petroleum Corp. | 22,984,450 | ||||||
25,411 | ONEOK Partners LP | 1,374,735 | ||||||
39,470 | Patterson Cos., Inc. | 1,497,887 | ||||||
222,870 | Paychex, Inc. | 8,114,697 | ||||||
156,800 | People’s United Financial, Inc. | 2,063,488 | ||||||
81,626 | PepsiCo, Inc. | 6,731,696 | ||||||
125,633 | Plains All American Pipeline LP | 7,213,847 | ||||||
42,670 | PPG Industries, Inc. | 6,278,464 | ||||||
240,000 | PPL Corp.(b) | 13,680,000 | ||||||
78,231 | Procter & Gamble Co. (The) | 6,005,794 | ||||||
47,580 | Protective Life Corp. | 1,810,895 | ||||||
154,920 | Provident New York BanCorp. | 1,400,477 | ||||||
100,000 | QUALCOMM, Inc. | 6,162,000 | ||||||
300,000 | Questcor Pharmaceuticals, Inc. | 9,222,000 | ||||||
106,600 | Resources Connection, Inc. | 1,210,976 | ||||||
45,940 | Royal Caribbean Cruises Ltd. | 1,678,188 | ||||||
135,340 | Rudolph Technologies, Inc.(b) | 1,579,418 | ||||||
187,870 | SandRidge Energy, Inc.(b) | 965,652 | ||||||
40,450 | Schweitzer-Mauduit International, Inc. | 1,629,731 | ||||||
300,000 | Select Comfort Corp.(b) | 6,366,000 | ||||||
19,217 | Silver Bay Realty Trust Corp., REIT | 366,660 | ||||||
560,910 | Sirius XM Radio, Inc. | 1,822,958 | ||||||
83,550 | SLM Corp. | 1,725,308 | ||||||
112,690 | Spectrum Pharmaceuticals, Inc. | 835,033 | ||||||
101,180 | St. Jude Medical, Inc. | 4,170,640 | ||||||
31,500 | State Street Corp. | 1,841,805 | ||||||
20,150 | Strayer Education, Inc. | 954,304 | ||||||
30,600 | Sunoco Logistics Partners LP | 1,900,566 | ||||||
116,960 | Systemax, Inc.(c) | 1,071,354 | ||||||
34,239 | TAL International Group, Inc. | 1,417,495 | ||||||
35,911 | Targa Resources Partners LP | 1,630,359 |
Shares | Value | |||||||
UNITED STATES (continued) | ||||||||
5,923 | Terra Nitrogen Co. LP | $ | 1,267,226 | |||||
33,720 | Tesoro Corp. | 1,800,648 | ||||||
2,400 | Texas Instruments, Inc. | 86,904 | ||||||
40,350 | Thor Industries, Inc. | 1,496,582 | ||||||
31,580 | Time Warner, Inc. | 1,887,852 | ||||||
39,600 | TJX Cos., Inc. | 1,931,292 | ||||||
37,520 | Transmontaigne Partners LP | 1,797,208 | ||||||
78,040 | Tredegar Corp. | 2,309,984 | ||||||
393,600 | Two Harbors Investment Corp., REIT | 4,715,328 | ||||||
61,520 | Unisys Corp.(b) | 1,176,878 | ||||||
65,779 | United Technologies Corp. | 6,004,965 | ||||||
24,850 | United Therapeutics Corp.(b) | 1,659,483 | ||||||
100,000 | UnitedHealth Group, Inc. | 5,993,000 | ||||||
32,751 | UNS Energy Corp. | 1,668,991 | ||||||
155,100 | Vaalco Energy, Inc.(b) | 1,042,272 | ||||||
571,520 | Vonage Holdings Corp.(b) | 1,743,136 | ||||||
69,010 | W&T Offshore, Inc. | 806,037 | ||||||
13,700 | Wal-Mart Stores, Inc. | 1,064,764 | ||||||
1,200,000 | Weatherford International Ltd.(b) | 15,348,000 | ||||||
150,000 | Western Digital Corp. | 8,292,000 | ||||||
2,540 | White Mountains Insurance Group Ltd. | 1,468,907 | ||||||
28,371 | Williams Partners LP | 1,550,475 | ||||||
17,900 | World Acceptance Corp.(b) | 1,590,594 | ||||||
36,000 | WR Berkley Corp. | 1,563,120 | ||||||
47,900 | Yahoo!, Inc.(b) | 1,184,567 | ||||||
861,450,541 | ||||||||
Total Common Stocks
(Cost $1,454,359,503) |
1,565,172,447 | |||||||
EXCHANGE TRADED FUNDS — 1.1% | ||||||||
UNITED STATES — 1.1% | ||||||||
264,800 | iShares FTSE China 25 Index Fund | 9,993,552 | ||||||
384,960 | iShares MSCI Canada Index Fund | 10,786,579 | ||||||
100,000 | iShares MSCI EAFE Index Fund | 6,194,000 | ||||||
180,800 | iShares MSCI Emerging Markets Index Fund | 7,826,832 | ||||||
400,000 | iShares MSCI Germany Index Fund | 10,188,000 | ||||||
100,000 | iShares MSCI South Korea Index Fund | 5,842,000 | ||||||
5,000 | SPDR Gold Shares | 713,850 | ||||||
140,000 | SPDR S&P 500 ETF Trust | 22,355,200 | ||||||
Total Exchange Traded Funds
(Cost $64,595,046) |
73,900,013 | |||||||
PREFERRED STOCKS — 0.0% | ||||||||
UNITED STATES — 0.0% | ||||||||
125,000 | Fannie Mae | 577,688 |
19 |
|
Old Westbury Funds, Inc. | |
Global Opportunities Fund | |
Portfolio of Investments - (Continued) | April 30, 2013 |
(Unaudited) |
Shares | Value | |||||||
UNITED STATES (continued) | ||||||||
150,000 | Freddie Mac | $ | 715,875 | |||||
Total Preferred Stocks
(Cost $3,898,310) |
1,293,563 | |||||||
Principal
Amount |
Value | |||||||
BANK LOANS — 0.7% | ||||||||
UNITED STATES — 0.7% | ||||||||
$ | 1,000,000 | AlixPartners LLP, Initial Loan (Second Lien), 9.50%, 11/30/19(e) | $ | 1,021,250 | ||||
139,300 | AlixPartners LLP, Refinancing Term Loan B-2, 3.25%, 06/30/19(e) | 140,737 | ||||||
1,980,000 | Allison Transmission, Inc., Term B-3 Loan, 3.25%, 08/23/19(e) | 2,007,225 | ||||||
4,416,930 | Asurion LLC, Incremental Tranche B-1 Term Loan, 3.25%, 05/24/19(e) | 4,535,242 | ||||||
1,718,125 | Bausch & Lomb, Inc., Parent Term Loan, 4.25%, 05/17/19(e) | 1,726,447 | ||||||
1,492,500 | Cannery Casino Resorts LLC, Term Loan (First Lien), 4.75%, 06/12/18(c)(e) | 1,522,972 | ||||||
7,200,000 | Cheasapeake Energy Corp., Term Loan, 4.50%, 12/02/17(e) | 7,445,254 | ||||||
2,194,500 | Compass Investors, Inc., Initial Term Loan, 4.00%, 05/04/14(e) | 2,219,188 | ||||||
2,905,280 | Cumulus Media Holdings, Inc., Second Lien Term Loan, 6.00%, 09/16/19(e) | 3,014,228 | ||||||
1,246,875 | Getty Images, Inc., Initial Term Loan, 3.50%, 10/03/19(e) | 1,263,825 | ||||||
1,226,300 | Infor US, Inc., Tranche B-2 Term Loan, 4.00%, 04/05/18(e) | 1,235,115 | ||||||
1,250,000 | Kronos, Inc., Second Lien Term Loan, 8.50%, 04/26/20(e) | 1,318,750 | ||||||
5,273,500 | McJunkin Red Man Corp., Term Loan, 5.00%, 10/24/19(e) | 5,359,194 | ||||||
847,875 | MGM Resorts International, Term Loan B, 3.25%, 12/20/19(e) | 860,239 | ||||||
3,000,000 | Nuveen Investments, Inc., Second Lien Term Loan, 0.14%, 02/23/19(e) | 3,060,000 | ||||||
2,244,375 | Peninsula Gaming LLC, Term B Loan, 6.75%, 07/03/17(e) | 2,274,299 |
Principal
Amount |
Value | |||||||
UNITED STATES (continued) | ||||||||
$ | 4,150,000 | Quintiles Transnational Corp., Term Loan, 7.50%, 02/21/17(e) | $ | 4,243,375 | ||||
1,044,890 | RBS Global, Inc./Rexnord LLC, Term Loan B, 3.50%, 04/01/18(e) | 1,052,936 | ||||||
1,240,641 | Savers, Inc, New Term Loan, 3.75%, 07/09/19(e) | 1,258,217 | ||||||
1,500,000 | Station Casinos, Inc., Term Loan B, 1.00%, 02/13/20(e) | 1,517,187 | ||||||
266,053 | Valeant Pharmaceuticals International, Inc., Series D-1 Tranche B Term Loan, 2.75%, 02/13/19(e) | 268,714 | ||||||
2,977,500 | WideOpenWest Finance LLC, Term Loan, 3.75%, 07/12/18(e) | 3,003,967 | ||||||
Total Bank Loans
(Cost $48,886,793) |
50,348,361 | |||||||
CORPORATE BONDS — 20.8% | ||||||||
AUSTRALIA — 0.1% | ||||||||
3,000,000 | FMG Resources Pty Ltd., 8.25%, 11/01/19(f) | 3,300,000 | ||||||
1,050,000 | FMG Resources Pty Ltd., 6.88%, 04/01/22(f) | 1,126,125 | ||||||
4,426,125 | ||||||||
AUSTRIA — 0.0% | ||||||||
5,218,800 | (g) | A-TEC Industries AG, Cnv., 2.75%, 05/10/14(b)(c)(h) | 0 | |||||
8,000,000 | (g) | A-TEC Industries AG, Cnv., 8.75%, 10/27/14(b)(c)(h) | 0 | |||||
0 | ||||||||
BELGIUM — 0.1% | ||||||||
4,000,000 | Sofina SA, Cnv., 1.00%, 09/19/16(n) | 3,948,000 | ||||||
BERMUDA — 0.1% | ||||||||
7,000,000 | (i) | Celestial Nutrifoods Ltd., Cnv., 15.75%, 06/12/12(b)(c)(d)(h)(j) | 1,136,640 | |||||
5,500,000 | Seadrill Ltd., 5.63%, 09/15/17(f) | 5,623,750 | ||||||
6,760,390 | ||||||||
CANADA — 0.7% | ||||||||
1,500,000 | Cascades, Inc., 7.75%, 12/15/17 | 1,601,250 | ||||||
1,250,000 | Cascades, Inc., 7.88%, 01/15/20 | 1,350,000 | ||||||
8,500,000 | Detour Gold Corp., Cnv., 5.50%, 11/30/17(c) | 7,575,625 | ||||||
4,750,000 | Mood Media Corp., 9.25%, 10/15/20(f) | 4,726,250 |
20 |
|
Old Westbury Funds, Inc. | |
Global Opportunities Fund | |
Portfolio of Investments - (Continued) | April 30, 2013 |
(Unaudited) |
Principal
Amount |
Value | |||||||
CANADA (continued) | ||||||||
$ | 4,000,000 | PetroBakken Energy Ltd., 8.63%, 02/01/20(f) | $ | 4,120,000 | ||||
7,000,000 | Petrominerales Ltd., Cnv., 3.25%, 06/12/17(n) | 5,650,400 | ||||||
1,750,000 | Precision Drilling Corp., 6.63%, 11/15/20 | 1,885,625 | ||||||
3,250,000 | Precision Drilling Corp., 6.50%, 12/15/21 | 3,518,125 | ||||||
1,164,000 | Quebecor Media, Inc., 7.75%, 03/15/16 | 1,185,825 | ||||||
4,500,000 | Quebecor Media, Inc., 5.75%, 01/15/23(f) | 4,691,250 | ||||||
7,000,000 | Silver Standard Resources, Inc., Cnv., 2.88%, 02/01/33(f) | 5,341,875 | ||||||
3,000,000 | Telesat Canada/Telesat LLC, 6.00%, 05/15/17(f) | 3,195,000 | ||||||
2,500,000 | Videotron Ltd., 9.13%, 04/15/18 | 2,631,250 | ||||||
47,472,475 | ||||||||
CAYMAN ISLANDS — 0.2% | ||||||||
4,000,000 | Polarcus Ltd., Cnv., 2.88%, 04/27/16 | 3,950,800 | ||||||
4,050,000 | UPCB Finance V Ltd., 7.25%, 11/15/21(f) | 4,515,750 | ||||||
2,950,000 | UPCB Finance VI Ltd., 6.88%, 01/15/22(f) | 3,237,625 | ||||||
11,704,175 | ||||||||
FRANCE — 0.1% | ||||||||
3,175,000 | Cie Generale de Geophysique-Veritas, 6.50%, 06/01/21 | 3,365,500 | ||||||
225,000 | Cie Generale de Geophysique-Veritas, 9.50%, 05/15/16 | 236,812 | ||||||
1,100,000 | Cie Generale de Geophysique-Veritas, 7.75%, 05/15/17 | 1,133,000 | ||||||
125,000 | (g) | Faurecia SA, Cnv., 4.50%, 01/01/15 | 3,338,469 | |||||
8,073,781 | ||||||||
GERMANY — 0.0% | ||||||||
3,500,000 | Unitymedia Hessen GmbH & Co. KG/Unitymedia NRW GmbH, 5.50%, 01/15/23(f) | 3,622,500 | ||||||
HONG KONG — 0.0% | ||||||||
9,700,000 | China Milk Products Group Ltd., Cnv., 12.86%, 01/05/12(b)(c)(d)(h)(j) | 1,133,154 | ||||||
IRELAND — 0.1% | ||||||||
3,000,000 | Ardagh Packaging Finance Plc, 9.13%, 10/15/20(f) | 3,390,000 |
Principal
Amount |
Value | |||||||
IRELAND (continued) | ||||||||
$ | 600,000 | Ardagh Packaging Finance Plc/Ardagh MP Holdings USA, Inc., 7.38%, 10/15/17(f) | $ | 660,750 | ||||
2,900,000 | Ardagh Packaging Finance Plc/Ardagh MP Holdings USA, Inc., 9.13%, 10/15/20(f) | 3,262,500 | ||||||
7,313,250 | ||||||||
LUXEMBOURG — 0.2% | ||||||||
4,732,000 | ArcelorMittal, 5.75%, 08/05/20 | 5,005,784 | ||||||
500,000 | Holcim US Finance Sarl & Cie SCS, 6.00%, 12/30/19(f) | 587,328 | ||||||
2,475,000 | Intelsat Jackson Holdings SA, 7.25%, 10/15/20 | 2,747,250 | ||||||
1,700,000 | Intelsat Jackson Holdings SA, 7.50%, 04/01/21 | 1,916,750 | ||||||
3,908,000 | Intelsat Luxembourg SA, 11.25%, 02/04/17 | 4,162,020 | ||||||
1,250,000 | Silver II Borrower/Silver II US Holdings LLC, 7.75%, 12/15/20(f) | 1,340,625 | ||||||
15,759,757 | ||||||||
NETHERLANDS — 0.3% | ||||||||
8,000,000 | (g) | Celesio Finance BV, Cnv., 3.75%, 10/29/14 | 10,846,404 | |||||
3,750,000 | Sensata Technologies BV, 6.50%, 05/15/19(f) | 4,087,500 | ||||||
5,000,000 | (g) | Volkswagen International Finance NV, Cnv., 5.50%, 11/09/15(f) | 6,781,702 | |||||
21,715,606 | ||||||||
PUERTO RICO — 0.1% | ||||||||
4,250,000 | Warner Chilcott Co. LLC/Warner Chilcott Finance LLC, 7.75%, 09/15/18 | 4,611,250 | ||||||
SOUTH AFRICA — 0.2% | ||||||||
119,000,000 | (g) | Steinhoff International Holdings Ltd., Cnv., 9.63%, 07/20/15 | 16,888,226 | |||||
SOUTH KOREA — 0.1% | ||||||||
28,890,000 | (g) | Export-Import Bank of Korea, 1.45%, 05/19/14(f) | 4,463,540 | |||||
SWITZERLAND — 0.0% | ||||||||
2,500,000 | Dufry Finance SCA, 5.50%, 10/15/20(f) | 2,608,620 | ||||||
UNITED KINGDOM — 0.2% | ||||||||
3,600,000 | (g) | TUI Travel Plc, Cnv., 4.90%, 04/27/17 | 6,249,127 |
21 |
|
Old Westbury Funds, Inc. | |
Global Opportunities Fund | |
Portfolio of Investments - (Continued) | April 30, 2013 |
(Unaudited) |
Principal
Amount |
Value | |||||||
UNITED KINGDOM (continued) | ||||||||
$ | 1,700,000 | Virgin Media Finance Plc, 4.88%, 02/15/22 | $ | 1,734,000 | ||||
2,600,000 | Virgin Media Finance Plc, 5.25%, 02/15/22 | 2,652,000 | ||||||
10,635,127 | ||||||||
UNITED STATES — 18.3% | ||||||||
600,000 | Accuray, Inc., Cnv., 3.75%, 08/01/16 | 522,750 | ||||||
2,350,000 | ADS Waste Holdings, Inc., 8.25%, 10/01/20(f) | 2,567,375 | ||||||
15,000,000 | Alere, Inc., Cnv., 3.00%, 05/15/16 | 14,868,750 | ||||||
1,500,000 | Allbritton Communications Co., 8.00%, 05/15/18 | 1,627,500 | ||||||
3,250,000 | Alliance Data Systems Corp., 5.25%, 12/01/17(f) | 3,388,125 | ||||||
4,250,000 | Alliance Data Systems Corp., 6.38%, 04/01/20(f) | 4,590,000 | ||||||
2,250,000 | Allison Transmission, Inc., 7.13%, 05/15/19(f) | 2,444,062 | ||||||
2,250,000 | AMC Networks, Inc., 7.75%, 07/15/21 | 2,587,500 | ||||||
2,750,000 | AMC Networks, Inc., 4.75%, 12/15/22 | 2,825,625 | ||||||
5,250,000 | AmeriGas Finance LLC/AmeriGas Finance Corp., 7.00%, 05/20/22 | 5,866,875 | ||||||
1,750,000 | AmeriGas Partners LP/AmeriGas Finance Corp., 6.25%, 08/20/19 | 1,894,375 | ||||||
7,750,000 | Ameristar Casinos, Inc., 7.50%, 04/15/21 | 8,641,250 | ||||||
14,000,000 | Annaly Capital Management, Inc., Cnv., REIT, 5.00%, 05/15/15 | 14,533,750 | ||||||
1,000,000 | Apollo Investment Corp., Cnv., 5.75%, 01/15/16 | 1,066,875 | ||||||
6,000,000 | Ares Capital Corp., Cnv., 5.13%, 06/01/16 | 6,435,000 | ||||||
4,750,000 | Ashtead Capital, Inc., 6.50%, 07/15/22(f) | 5,236,875 | ||||||
4,000,000 | Avis Budget Car Rental LLC/Avis Budget Finance, Inc., 8.25%, 01/15/19 | 4,445,000 | ||||||
1,350,000 | Belden, Inc., 6.50%, 10/01/20(f) | 1,410,750 | ||||||
4,400,000 | Belden, Inc., 5.50%, 09/01/22(f) | 4,532,000 | ||||||
3,250,000 | Bill Barrett Corp., 7.63%, 10/01/19 | 3,542,500 | ||||||
1,250,000 | Bill Barrett Corp., 7.00%, 10/15/22 | 1,343,750 | ||||||
5,650,000 | Biomet, Inc., 6.50%, 08/01/20(f) | 6,158,500 |
Principal
Amount |
Value | |||||||
UNITED STATES (continued) | ||||||||
$ | 5,000,000 | Blucora, Inc., Cnv., 4.25%, 04/01/19(f) | $ | 5,131,250 | ||||
1,250,000 | Boise Paper Holdings LLC/Boise Co.-Issuer Co., 8.00%, 04/01/20 | 1,403,125 | ||||||
1,250,000 | Boise Paper Holdings LLC/Boise Finance Co., 9.00%, 11/01/17 | 1,346,875 | ||||||
3,200,000 | Boyd Gaming Corp., 7.13%, 02/01/16 | 3,240,000 | ||||||
2,050,000 | Boyd Gaming Corp., 9.13%, 12/01/18 | 2,275,500 | ||||||
3,050,000 | BroadSoft, Inc., Cnv., 1.50%, 07/01/18 | 3,095,750 | ||||||
1,500,000 | Building Materials Corp. of America, 6.75%, 05/01/21(f) | 1,661,250 | ||||||
900,000 | Cablevision Systems Corp., 7.75%, 04/15/18 | 1,024,875 | ||||||
1,000,000 | Cablevision Systems Corp., 8.00%, 04/15/20 | 1,150,000 | ||||||
5,600,000 | Cablevision Systems Corp., 5.88%, 09/15/22 | 5,670,000 | ||||||
10,000,000 | Cadence Design Systems, Inc., Series B, Cnv., 1.50%, 12/15/13 | 10,025,000 | ||||||
1,700,000 | Calpine Corp., 7.88%, 07/31/20(f) | 1,925,250 | ||||||
4,800,000 | Calpine Corp., 7.50%, 02/15/21(f) | 5,424,000 | ||||||
5,750,000 | Catalent Pharma Solutions, Inc., 7.88%, 10/15/18(f) | 5,857,812 | ||||||
1,000,000 | CBIZ, Inc., Cnv., 4.88%, 10/01/15(f) | 1,100,625 | ||||||
600,000 | CCO Holdings LLC/CCO Holdings Capital Corp., 7.00%, 01/15/19 | 651,750 | ||||||
1,000,000 | CCO Holdings LLC/CCO Holdings Capital Corp., 7.38%, 06/01/20 | 1,122,500 | ||||||
3,250,000 | CCO Holdings LLC/CCO Holdings Capital Corp., 6.50%, 04/30/21 | 3,526,250 | ||||||
1,225,000 | CCO Holdings LLC/CCO Holdings Capital Corp., 6.63%, 01/31/22 | 1,347,500 | ||||||
2,425,000 | CCO Holdings LLC/CCO Holdings Capital Corp., 5.25%, 09/30/22 | 2,470,469 | ||||||
1,300,000 | CDW LLC/CDW Finance Corp., 8.00%, 12/15/18 | 1,457,625 | ||||||
4,200,000 | CDW LLC/CDW Finance Corp., 8.50%, 04/01/19 | 4,709,250 | ||||||
4,000,000 | Cedar Fair LP/Canada’s Wonderland Co./Magnum Management Corp., 5.25%, 03/15/21(f) | 4,090,000 |
22 |
|
Old Westbury Funds, Inc. | |
Global Opportunities Fund | |
Portfolio of Investments - (Continued) | April 30, 2013 |
(Unaudited) |
Principal
Amount |
Value | |||||||
UNITED STATES (continued) | ||||||||
$ | 500,000 | Cemex Finance LLC, 9.50%, 12/14/16(f) | $ | 537,500 | ||||
1,000,000 | Central Garden and Pet Co., 8.25%, 03/01/18 | 1,046,250 | ||||||
5,200,000 | CenturyLink, Inc., 5.80%, 03/15/22 | 5,504,205 | ||||||
1,000,000 | CenturyLink, Inc., Series S, 6.45%, 06/15/21 | 1,107,146 | ||||||
8,000,000 | Cequel Communications Escrow 1 LLC/Cequel Communications Escrow Capital Corp., 6.38%, 09/15/20(f) | 8,520,000 | ||||||
250,000 | Chaparral Energy, Inc., 8.25%, 09/01/21 | 282,500 | ||||||
2,000,000 | Chaparral Energy, Inc., 7.63%, 11/15/22 | 2,210,000 | ||||||
6,000,000 | Charles River Laboratories International, Inc., Cnv., 2.25%, 06/15/13 | 5,992,561 | ||||||
3,500,000 | Choice Hotels International, Inc., 5.75%, 07/01/22 | 3,920,000 | ||||||
1,350,000 | CHS/Community Health Systems, Inc., 5.13%, 08/15/18 | 1,444,500 | ||||||
19,000,000 | Ciena Corp. Cnv., 0.88%, 06/15/17 | 17,337,500 | ||||||
4,250,000 | Cimarex Energy Co., 5.88%, 05/01/22 | 4,632,500 | ||||||
2,500,000 | Cincinnati Bell, Inc., 8.25%, 10/15/17 | 2,675,000 | ||||||
950,000 | Cincinnati Bell, Inc., 8.75%, 03/15/18 | 969,000 | ||||||
1,200,000 | CIT Group, Inc., 4.25%, 08/15/17 | 1,272,000 | ||||||
1,150,000 | CIT Group, Inc., 5.25%, 03/15/18 | 1,270,750 | ||||||
1,650,000 | CIT Group, Inc., 5.00%, 08/15/22 | 1,845,243 | ||||||
2,000,000 | Clean Harbors, Inc., 5.25%, 08/01/20 | 2,115,000 | ||||||
1,500,000 | Clean Harbors, Inc., 5.13%, 06/01/21(f) | 1,571,250 | ||||||
7,000,000 | CommScope, Inc., 8.25%, 01/15/19(f) | 7,647,500 | ||||||
9,500,000 | Comtech Telecommunications Corp., Cnv., 3.00%, 05/01/29(c) | 9,695,937 | ||||||
1,000,000 | Crown Castle International Corp., 7.13%, 11/01/19 | 1,097,500 | ||||||
5,750,000 | Crown Castle International Corp., 5.25%, 01/15/23 | 6,023,125 | ||||||
500,000 | CSC Holdings LLC, 6.75%, 11/15/21 | 571,250 |
Principal
Amount |
Value | |||||||
UNITED STATES (continued) | ||||||||
$ | 9,500,000 | CSG Systems International, Inc., Cnv., 3.00%, 03/01/17(f) | $ | 10,770,625 | ||||
5,000,000 | Cumulus Media Holdings, Inc., 7.75%, 05/01/19 | 5,100,000 | ||||||
3,250,000 | DaVita, Inc., 6.63%, 11/01/20 | 3,562,812 | ||||||
4,250,000 | DaVita, Inc., 5.75%, 08/15/22 | 4,526,250 | ||||||
3,000,000 | Del Monte Corp., 7.63%, 02/15/19 | 3,198,750 | ||||||
2,250,000 | Delphi Corp., 6.13%, 05/15/21 | 2,517,187 | ||||||
7,000,000 | DFC Global Corp., Cnv., 3.25%, 04/15/17(f) | 6,912,500 | ||||||
7,000,000 | Digital River, Inc., Cnv., 2.00%, 11/01/30 | 6,855,625 | ||||||
4,950,000 | DISH DBS Corp., 6.75%, 06/01/21 | 5,346,000 | ||||||
4,050,000 | DISH DBS Corp., 5.88%, 07/15/22 | 4,131,000 | ||||||
500,000 | DISH DBS Corp., 5.00%, 03/15/23(f) | 485,000 | ||||||
750,000 | Eagle Rock Energy Partners LP/Eagle Rock Energy Finance Corp., 8.38%, 06/01/19 | 808,125 | ||||||
18,000,000 | Electronic Arts, Inc., Cnv., 0.75%, 07/15/16 | 17,527,500 | ||||||
1,000,000 | Endo Health Solutions, Inc., 7.00%, 07/15/19 | 1,095,000 | ||||||
1,500,000 | Endo Health Solutions, Inc., 7.00%, 12/15/20 | 1,646,250 | ||||||
2,000,000 | Endo Health Solutions, Inc., 7.25%, 01/15/22 | 2,192,500 | ||||||
3,000,000 | Equinix, Inc., 7.00%, 07/15/21 | 3,397,500 | ||||||
4,250,000 | Exterran Holdings, Inc., 7.25%, 12/01/18 | 4,584,687 | ||||||
1,500,000 | Ferrellgas LP/Ferrellgas Finance Corp., 9.13%, 10/01/17 | 1,605,000 | ||||||
1,000,000 | Ferrellgas LP/Ferrellgas Finance Corp., 6.50%, 05/01/21 | 1,052,500 | ||||||
5,000,000 | Forest City Enterprises, Inc., Cnv., 4.25%, 08/15/18 | 5,646,875 | ||||||
1,841,000 | Frac Tech Services LLC/Frac Tech Finance, Inc., 8.13%, 11/15/18(f) | 1,969,870 | ||||||
2,652,000 | Freescale Semiconductor, Inc., 10.13%, 03/15/18(f) | 2,937,090 | ||||||
900,000 | Fresenius Medical Care US Finance II, Inc., 5.63%, 07/31/19(f) | 1,005,750 |
23 |
|
Old Westbury Funds, Inc. | |
Global Opportunities Fund | |
Portfolio of Investments - (Continued) | April 30, 2013 |
(Unaudited) |
Principal
Amount |
Value | |||||||
UNITED STATES (continued) | ||||||||
$ | 3,400,000 | Fresenius Medical Care US Finance II, Inc., 5.88%, 01/31/22(f) | $ | 3,893,000 | ||||
2,950,000 | Fresenius Medical Care US Finance, Inc., 5.75%, 02/15/21(f) | 3,355,625 | ||||||
1,100,000 | Frontier Communications Corp., 7.13%, 03/15/19 | 1,201,750 | ||||||
2,750,000 | Frontier Communications Corp., 8.50%, 04/15/20 | 3,162,500 | ||||||
1,900,000 | Frontier Communications Corp., 7.13%, 01/15/23 | 1,966,500 | ||||||
5,000,000 | FTI Consulting, Inc., 6.75%, 10/01/20 | 5,443,750 | ||||||
799,000 | FTI Consulting, Inc., 6.00%, 11/15/22(f) | 852,933 | ||||||
2,500,000 | GCI, Inc., 6.75%, 06/01/21 | 2,387,500 | ||||||
1,650,000 | General Cable Corp., 5.75%, 10/01/22(f) | 1,707,750 | ||||||
14,500,000 | General Cable Corp., Cnv., 0.88%, 11/15/13 | 14,472,812 | ||||||
1,500,000 | GenOn Americas Generation LLC, 8.50%, 10/01/21 | 1,777,500 | ||||||
1,150,000 | Geo Group, Inc. (The), 7.75%, 10/15/17 | 1,224,750 | ||||||
2,850,000 | Geo Group, Inc. (The), 6.63%, 02/15/21 | 3,156,375 | ||||||
3,300,000 | Goodyear Tire & Rubber Co. (The), 8.75%, 08/15/20 | 3,836,250 | ||||||
700,000 | Goodyear Tire & Rubber Co. (The), 7.00%, 05/15/22 | 756,875 | ||||||
4,000,000 | Greenbrier Cos., Inc., Cnv., 3.50%, 04/01/18 | 4,077,500 | ||||||
3,750,000 | Griffey Intermediate, Inc./Griffey Finance Sub LLC, 7.00%, 10/15/20(f) | 3,796,875 | ||||||
2,750,000 | Griffon Corp., 7.13%, 04/01/18 | 2,990,625 | ||||||
7,710,000 | Griffon Corp., Cnv., 4.00%, 01/15/17(c)(f) | 7,902,750 | ||||||
4,500,000 | H&E Equipment Services, Inc., 7.00%, 09/01/22 | 4,983,750 | ||||||
4,000,000 | Hanesbrands, Inc., 6.38%, 12/15/20 | 4,425,000 | ||||||
1,750,000 | HCA Holdings, Inc., 6.25%, 02/15/21 | 1,916,250 | ||||||
1,000,000 | HCA Holdings, Inc., 7.75%, 05/15/21 | 1,133,750 | ||||||
1,750,000 | HCA, Inc., 6.50%, 02/15/20 | 2,021,250 | ||||||
1,100,000 | HCA, Inc., 7.50%, 02/15/22 | 1,314,500 | ||||||
2,500,000 | HCA, Inc., 5.88%, 03/15/22 | 2,775,000 |
Principal
Amount |
Value | |||||||
UNITED STATES (continued) | ||||||||
$ | 2,050,000 | HCA, Inc., 4.75%, 05/01/23 | $ | 2,137,125 | ||||
350,000 | HCA, Inc., 5.88%, 05/01/23 | 380,625 | ||||||
3,500,000 | HDTFS, Inc., 6.25%, 10/15/22 | 3,915,625 | ||||||
3,000,000 | Helix Energy Solutions Group, Inc., 9.50%, 01/15/16(f) | 3,086,250 | ||||||
3,265,000 | Hercules, Inc., Cnv., 6.50%, 06/30/29(c) | 2,760,884 | ||||||
4,000,000 | Hertz Corp. (The), 5.88%, 10/15/20 | 4,370,000 | ||||||
3,000,000 | Hiland Partners LP/Hiland Partners Finance Corp., 7.25%, 10/01/20(f) | 3,337,500 | ||||||
4,500,000 | Holly Energy Partners LP/Holly Energy Finance Corp., 6.50%, 03/01/20 | 4,860,000 | ||||||
17,500,000 | Hologic, Inc., Cnv., STEP, 2.00%, 03/01/42 | 17,839,063 | ||||||
10,000,000 | Hologic, Inc., Cnv., STEP, 2.00%, 12/15/43 | 10,587,500 | ||||||
1,250,000 | Hughes Satellite Systems Corp., 6.50%, 06/15/19 | 1,390,625 | ||||||
6,250,000 | Hughes Satellite Systems Corp., 7.63%, 06/15/21 | 7,171,875 | ||||||
6,500,000 | Iconix Brand Group, Inc., Cnv., 2.50%, 06/01/16 | 7,507,500 | ||||||
15,000,000 | Illumina, Inc., Cnv., 0.25%, 03/15/16(f) | 15,581,250 | ||||||
5,000,000 | Infor US, Inc., 9.38%, 04/01/19 | 5,700,000 | ||||||
2,000,000 | Ingles Markets, Inc., 8.88%, 05/15/17 | 2,097,500 | ||||||
20,000,000 | Integra Lifesciences Holdings Corp., 1.63%, 12/15/16(c) | 19,575,000 | ||||||
1,850,000 | Interactive Data Corp., 10.25%, 08/01/18 | 2,104,375 | ||||||
2,000,000 | International Game Technology, 3.25%, 05/01/14 | 2,167,500 | ||||||
3,550,000 | Iron Mountain, Inc., 5.75%, 08/15/24 | 3,656,500 | ||||||
2,400,000 | Isle of Capri Casinos, Inc., 7.75%, 03/15/19 | 2,640,000 | ||||||
3,600,000 | Isle of Capri Casinos, Inc., 8.88%, 06/15/20 | 3,960,000 | ||||||
3,000,000 | Jarden Corp., 7.50%, 05/01/17 | 3,420,000 | ||||||
1,000,000 | Jarden Corp., 7.50%, 01/15/20 | 1,098,750 | ||||||
2,199,000 | Jazz Technologies, Inc., 8.00%, 06/30/15 | 2,023,080 | ||||||
1,650,000 | JMC Steel Group, 8.25%, 03/15/18(f) | 1,726,313 |
24 |
|
Old Westbury Funds, Inc. | |
Global Opportunities Fund | |
Portfolio of Investments - (Continued) | April 30, 2013 |
(Unaudited) |
Principal
Amount |
Value | |||||||
UNITED STATES (continued) | ||||||||
$ | 4,900,000 | Jo-Ann Stores, Inc., 8.13%, 03/15/19(f) | $ | 5,230,750 | ||||
3,000,000 | Key Energy Services, Inc., 6.75%, 03/01/21 | 3,135,000 | ||||||
17,000,000 | L-3 Communications Holdings, Inc., Cnv., 3.00%, 08/01/35(c) | 17,276,250 | ||||||
1,000,000 | Lamar Media Corp., 7.88%, 04/15/18 | 1,092,500 | ||||||
1,760,000 | Lamar Media Corp., 5.88%, 02/01/22 | 1,925,000 | ||||||
3,500,000 | Lamar Media Corp., 5.00%, 05/01/23 | 3,561,250 | ||||||
5,750,000 | Level 3 Financing, Inc., 8.13%, 07/01/19 | 6,339,375 | ||||||
2,000,000 | Level 3 Financing, Inc., 7.00%, 06/01/20(f) | 2,115,000 | ||||||
2,500,000 | Levi Strauss & Co., 7.63%, 05/15/20 | 2,778,125 | ||||||
3,500,000 | Levi Strauss & Co., 6.88%, 05/01/22 | 3,906,875 | ||||||
17,000,000 | Liberty Media LLC, Cnv., 4.00%, 11/15/29 | 12,155,000 | ||||||
33,500,000 | Liberty Media LLC, Cnv., 3.75%, 02/15/30 | 23,031,250 | ||||||
2,000,000 | LIN Television Corp., 6.38%, 01/15/21(f) | 2,150,000 | ||||||
1,600,000 | LINN Energy LLC/LINN Energy Finance Corp., 6.50%, 05/15/19 | 1,696,000 | ||||||
3,900,000 | LINN Energy LLC/LINN Energy Finance Corp., 7.75%, 02/01/21 | 4,270,500 | ||||||
16,500,000 | Live Nation Entertainment, Inc., Cnv., 2.88%, 07/15/27 | 16,603,125 | ||||||
3,250,000 | Lynx I Corp., 5.38%, 04/15/21(f) | 3,469,375 | ||||||
950,000 | Lynx II Corp., 6.38%, 04/15/23(f) | 1,028,375 | ||||||
1,000,000 | MarkWest Energy Partners LP/MarkWest Energy Finance Corp., 6.75%, 11/01/20 | 1,105,000 | ||||||
974,000 | MarkWest Energy Partners LP/MarkWest Energy Finance Corp., 6.25%, 06/15/22 | 1,083,575 | ||||||
2,500,000 | MarkWest Energy Partners LP/MarkWest Energy Finance Corp., 4.50%, 07/15/23 | 2,606,250 | ||||||
4,250,000 | Mead Products LLC/ACCO Brands Corp., 6.75%, 04/30/20(f) | 4,515,625 |
Principal
Amount |
Value | |||||||
UNITED STATES (continued) | ||||||||
$ | 2,400,000 | MedAssets, Inc., 8.00%, 11/15/18 | $ | 2,646,000 | ||||
4,500,000 | Mediacom Broadband LLC/Mediacom Broadband Corp., 6.38%, 04/01/23 | 4,725,000 | ||||||
2,000,000 | Mediacom LLC/Mediacom Capital Corp., 9.13%, 08/15/19 | 2,235,000 | ||||||
1,000,000 | Mediacom LLC/Mediacom Capital Corp., 7.25%, 02/15/22 | 1,105,000 | ||||||
1,750,000 | Mentor Graphics Corp., Cnv., 4.00%, 04/01/31 | 2,063,906 | ||||||
12,000,000 | Meritor, Inc., Cnv., STEP, 4.00%, 02/15/27 | 10,620,000 | ||||||
1,000,000 | MGM Resorts International, 7.50%, 06/01/16 | 1,127,500 | ||||||
900,000 | MGM Resorts International, 7.63%, 01/15/17 | 1,021,500 | ||||||
2,000,000 | MGM Resorts International, 11.38%, 03/01/18 | 2,585,000 | ||||||
2,500,000 | MGM Resorts International, 6.75%, 10/01/20(f) | 2,743,750 | ||||||
1,000,000 | MGM Resorts International, 7.75%, 03/15/22 | 1,142,500 | ||||||
3,250,000 | Michael Foods, Inc., 9.75%, 07/15/18 | 3,644,063 | ||||||
2,016,000 | Michaels Stores, Inc., 11.38%, 11/01/16 | 2,111,780 | ||||||
2,750,000 | Michaels Stores, Inc., 7.75%, 11/01/18 | 3,021,563 | ||||||
9,000,000 | Micron Technology, Inc., Cnv., 1.88%, 06/01/27 | 9,410,625 | ||||||
4,800,000 | Morgans Hotel Group Co., Cnv., 2.38%, 10/15/14(c) | 4,656,000 | ||||||
3,250,000 | MPT Operating Partnership LP/MPT Finance Corp., REIT, 6.88%, 05/01/21 | 3,542,500 | ||||||
3,600,000 | MultiPlan, Inc., 9.88%, 09/01/18(f) | 4,054,500 | ||||||
1,000,000 | NCR Corp., 4.63%, 02/15/21(f) | 1,000,000 | ||||||
4,000,000 | NCR Corp., 5.00%, 07/15/22(f) | 4,050,000 | ||||||
3,850,000 | Nexstar Broadcasting, Inc., 6.88%, 11/15/20(f) | 4,100,250 | ||||||
150,000 | Nexstar Broadcasting, Inc./Mission Broadcasting, Inc., 8.88%, 04/15/17 | 164,250 | ||||||
1,250,000 | Nielsen Finance LLC/Nielsen Finance Co., 7.75%, 10/15/18 | 1,392,188 | ||||||
2,000,000 | NRG Energy, Inc., 7.88%, 05/15/21 | 2,265,000 |
25 |
|
Old Westbury Funds, Inc. | |
Global Opportunities Fund | |
Portfolio of Investments - (Continued) | April 30, 2013 |
(Unaudited) |
Principal
Amount |
Value | |||||||
UNITED STATES (continued) | ||||||||
$ | 5,500,000 | NRG Energy, Inc., 6.63%, 03/15/23(f) | $ | 5,995,000 | ||||
6,000,000 | Nuance Communications, Inc., 5.38%, 08/15/20(f) | 6,240,000 | ||||||
13,000,000 | Nuance Communications, Inc., Cnv., 2.75%, 11/01/31 | 13,576,875 | ||||||
19,085,000 | NuVasive, Inc., Cnv., 2.75%, 07/01/17 | 18,417,025 | ||||||
2,600,000 | Oasis Petroleum, Inc., 7.25%, 02/01/19 | 2,821,000 | ||||||
500,000 | Oasis Petroleum, Inc., 6.50%, 11/01/21 | 550,000 | ||||||
1,400,000 | Oasis Petroleum, Inc., 6.88%, 01/15/23 | 1,554,000 | ||||||
1,500,000 | Oil States International, Inc., 6.50%, 06/01/19 | 1,612,500 | ||||||
1,935,000 | Omega Healthcare Investors, Inc., 6.75%, 10/15/22 | 2,152,688 | ||||||
11,000,000 | Omnicare, Inc., Cnv., 3.25%, 12/15/35 | 11,220,000 | ||||||
19,500,000 | Owens-Brockway Glass Container, Inc., Cnv., 3.00%, 06/01/15(f) | 19,743,750 | ||||||
5,150,000 | Peninsula Gaming LLC/Peninsula Gaming Corp., 8.38%, 02/15/18(f) | 5,562,000 | ||||||
3,000,000 | Penn Virginia Resource Partners LP/Penn Virginia Resource Finance Corp., 8.25%, 04/15/18 | 3,202,500 | ||||||
2,000,000 | Penn Virginia Resource Partners LP/Penn Virginia Resource Finance Corp. II, 8.38%, 06/01/20 | 2,162,500 | ||||||
6,500,000 | Penske Automotive Group, Inc., 5.75%, 10/01/22(f) | 6,881,875 | ||||||
1,850,000 | PH Glatfelter Co., 5.38%, 10/15/20 | 1,951,750 | ||||||
2,000,000 | Pinnacle Entertainment, Inc., 8.63%, 08/01/17 | 2,115,000 | ||||||
3,335,000 | Pinnacle Entertainment, Inc., 8.75%, 05/15/20 | 3,693,513 | ||||||
1,150,000 | PolyOne Corp., 7.38%, 09/15/20 | 1,290,875 | ||||||
350,000 | PolyOne Corp., 5.25%, 03/15/23(f) | 369,250 | ||||||
1,450,000 | Prestige Brands, Inc., 8.25%, 04/01/18 | 1,578,688 | ||||||
750,000 | Prestige Brands, Inc., 8.13%, 02/01/20 | 859,688 | ||||||
6,000,000 | Prospect Capital Corp., Cnv., 5.50%, 08/15/16 | 6,412,500 | ||||||
10,000,000 | Prospect Capital Corp., Cnv., 5.75%, 03/15/18(f) | 10,525,000 |
Principal
Amount |
Value | |||||||
UNITED STATES (continued) | ||||||||
$ | 5,000,000 | QEP Resources, Inc., 5.38%, 10/01/22 | $ | 5,325,000 | ||||
1,000,000 | Qwest Capital Funding, Inc., 6.50%, 11/15/18(c) | 1,129,894 | ||||||
300,000 | Qwest Corp., 6.75%, 12/01/21 | 353,074 | ||||||
1,750,000 | RBS Global, Inc./Rexnord LLC, 8.50%, 05/01/18 | 1,916,250 | ||||||
4,000,000 | Regency Energy Partners LP/Regency Energy Finance Corp., 6.50%, 07/15/21 | 4,480,000 | ||||||
2,000,000 | Regency Energy Partners LP/Regency Energy Finance Corp., 5.50%, 04/15/23 | 2,190,000 | ||||||
2,500,000 | Rent-A-Center, Inc., 6.63%, 11/15/20 | 2,737,500 | ||||||
2,850,000 | Reynolds Group Issuer, Inc./Reynolds Group Issuer LLC/Reynolds Group Issuer (Luxembourg) SA, 8.50%, 05/15/18 | 3,035,250 | ||||||
2,550,000 | Reynolds Group Issuer, Inc./Reynolds Group Issuer LLC/Reynolds Group Issuer (Luxembourg) SA, 9.00%, 04/15/19 | 2,754,000 | ||||||
1,400,000 | Reynolds Group Issuer, Inc./Reynolds Group Issuer LLC/Reynolds Group Issuer (Luxembourg) SA, 9.88%, 08/15/19 | 1,571,500 | ||||||
1,700,000 | Reynolds Group Issuer, Inc./Reynolds Group Issuer LLC/Reynolds Group Issuer (Luxembourg) SA, 5.75%, 10/15/20 | 1,780,750 | ||||||
2,000,000 | Reynolds Group Issuer, Inc./Reynolds Group Issuer LLC/Reynolds Group Issuer (Luxembourg) SA, 8.25%, 02/15/21 | 2,122,500 | ||||||
5,000,000 | Rockwood Specialties Group, Inc., 4.63%, 10/15/20 | 5,275,000 | ||||||
7,000,000 | Rovi Corp., Cnv., 2.63%, 02/15/40 | 7,135,625 | ||||||
7,000,000 | Royal Gold, Inc., Cnv., 2.88%, 06/15/19 | 6,868,750 | ||||||
3,000,000 | RSI Home Products, Inc., 6.88%, 03/01/18(f) | 3,131,250 | ||||||
12,000,000 | Salix Pharmaceuticals Ltd., Cnv., 1.50%, 03/15/19 | 12,990,000 | ||||||
1,000,000 | Sally Holdings LLC/Sally Capital, Inc., 6.88%, 11/15/19 | 1,118,750 |
26 |
|
Old Westbury Funds, Inc. | |
Global Opportunities Fund | |
Portfolio of Investments - (Continued) |
April
30, 2013
(Unaudited) |
Principal
Amount |
Value | |||||||
UNITED STATES (continued) | ||||||||
$ | 2,250,000 | Sally Holdings LLC/Sally Capital, Inc., 5.75%, 06/01/22 | $ | 2,424,375 | ||||
31,785,000 | Savient Pharmaceuticals, Inc., STEP, 3.00%, 05/09/19(c)(d)(f) | 18,276,375 | ||||||
1,270,000 | SBA Communications Corp., 5.63%, 10/01/19(f) | 1,336,675 | ||||||
5,100,000 | SBA Telecommunications, Inc., 5.75%, 07/15/20(f) | 5,431,500 | ||||||
1,500,000 | Scientific Games International, Inc., 9.25%, 06/15/19 | 1,653,750 | ||||||
3,000,000 | Scientific Games International, Inc., 6.25%, 09/01/20 | 3,082,500 | ||||||
500,000 | SEACOR Holdings, Inc., 7.38%, 10/01/19 | 545,031 | ||||||
4,000,000 | SEACOR Holdings, Inc., Cnv., 2.50%, 12/15/27(f) | 4,372,500 | ||||||
6,250,000 | Sequa Corp., 7.00%, 12/15/17(f) | 6,343,750 | ||||||
4,250,000 | SESI LLC, 7.13%, 12/15/21 | 4,834,375 | ||||||
12,000,000 | ShengdaTech, Inc., Cnv., 6.50%, 12/15/15(b)(c)(d)(f)(h) | 3,600,000 | ||||||
3,000,000 | Sinclair Television Group, Inc., 6.13%, 10/01/22(f) | 3,180,000 | ||||||
6,250,000 | Sirius XM Radio, Inc., 5.25%, 08/15/22(f) | 6,453,125 | ||||||
3,500,000 | Spectrum Brands Escrow Corp., 6.38%, 11/15/20(f) | 3,823,750 | ||||||
3,750,000 | Spectrum Brands, Inc., 6.75%, 03/15/20 | 4,087,500 | ||||||
1,250,000 | Sprint Nextel Corp., 7.00%, 03/01/20(f) | 1,421,875 | ||||||
3,300,000 | Sprint Nextel Corp., 7.00%, 08/15/20 | 3,613,500 | ||||||
3,950,000 | Sprint Nextel Corp., 6.00%, 11/15/22 | 4,117,875 | ||||||
1,500,000 | Starwood Property Trust, Inc., Cnv., REIT, 4.55%, 03/01/18 | 1,661,250 | ||||||
6,500,000 | Starz LLC/Starz Finance Corp., 5.00%, 09/15/19 | 6,784,375 | ||||||
1,550,000 | Station Casinos LLC, 7.50%, 03/01/21(f) | 1,635,250 | ||||||
18,700,000 | Stewart Enterprises, Inc., Cnv., 3.13%, 07/15/14 | 19,424,625 | ||||||
11,000,000 | Stone Energy Corp., Cnv., 1.75%, 03/01/17(f) | 10,106,250 | ||||||
2,793,000 | Suburban Propane Partners LP/Suburban Energy Finance Corp., 7.50%, 10/01/18 | 3,044,370 |
Principal
Amount |
Value | |||||||
UNITED STATES (continued) | ||||||||
$ | 3,324,000 | Suburban Propane Partners LP/Suburban Energy Finance Corp., 7.38%, 08/01/21 | $ | 3,697,950 | ||||
350,000 | SunGard Data Systems, Inc., 7.38%, 11/15/18 | 378,000 | ||||||
4,775,000 | SunGard Data Systems, Inc., 6.63%, 11/01/19(f) | 5,079,406 | ||||||
3,125,000 | SunGard Data Systems, Inc., 7.63%, 11/15/20 | 3,453,125 | ||||||
5,000,000 | TeleCommunication Systems, Inc., Cnv., 4.50%, 11/01/14(c)(f) | 4,800,000 | ||||||
650,000 | Tenet Healthcare Corp., 6.25%, 11/01/18 | 732,875 | ||||||
250,000 | Tenet Healthcare Corp., 6.75%, 02/01/20 | 271,250 | ||||||
6,850,000 | Tenet Healthcare Corp., 8.00%, 08/01/20 | 7,706,250 | ||||||
13,000,000 | TIBCO Software, Inc., Cnv., 2.25%, 05/01/32(f) | 12,675,000 | ||||||
4,800,000 | Titan Machinery, Inc., Cnv., 3.75%, 05/01/19(f) | 4,623,000 | ||||||
11,575,000 | Tower Group, Inc., Cnv., 5.00%, 09/15/14 | 12,269,500 | ||||||
2,100,000 | Toys R US Property Co. I LLC, 10.75%, 07/15/17 | 2,244,375 | ||||||
2,900,000 | Toys R US Property Co. II LLC, 8.50%, 12/01/17 | 3,113,875 | ||||||
1,400,000 | TransDigm, Inc., 7.75%, 12/15/18 | 1,550,500 | ||||||
1,600,000 | TransDigm, Inc., 5.50%, 10/15/20(f) | 1,708,000 | ||||||
2,000,000 | TransUnion Holding Co., Inc., 8.13% cash or 8.88% payment-in-kind interest, 06/15/18(f)(k) | 2,150,000 | ||||||
4,000,000 | TransUnion Holding Co., Inc., 9.63%, 06/15/18 | 4,390,000 | ||||||
1,000,000 | TransUnion LLC/TransUnion Financing Corp., 11.38%, 06/15/18 | 1,145,000 | ||||||
7,000,000 | TTM Technologies, Inc., Cnv., 3.25%, 05/15/15 | 6,965,000 | ||||||
1,500,000 | TW Telecom Holdings, Inc., 8.00%, 03/01/18 | 1,627,500 | ||||||
250,000 | TW Telecom Holdings, Inc., 5.38%, 10/01/22 | 261,875 | ||||||
2,925,000 | Unit Corp., 6.63%, 05/15/21 | 3,129,750 | ||||||
1,600,000 | United Rentals North America, Inc., 7.38%, 05/15/20 | 1,812,000 | ||||||
4,900,000 | United Rentals North America, Inc., 7.63%, 04/15/22 | 5,622,750 | ||||||
10,000,000 | United States Steel Corp., Cnv., 4.00%, 05/15/14 | 10,243,750 |
27 |
|
Old Westbury Funds, Inc. | |
Global Opportunities Fund | |
Portfolio of Investments - (Continued) |
April
30, 2013
(Unaudited) |
Principal
Amount |
Value | |||||||
UNITED STATES (continued) | ||||||||
$ | 2,000,000 | United States Steel Corp., Cnv., 2.75%, 04/01/19 | $ | 2,015,000 | ||||
4,000,000 | Universal Hospital Services, Inc., 7.63%, 08/15/20 | 4,330,000 | ||||||
1,650,000 | Universal Hospital Services, Inc., 7.63%, 08/15/20(f) | 1,784,062 | ||||||
8,000,000 | US Foodservice, 8.50%, 06/30/19(f) | 8,700,000 | ||||||
850,000 | Valeant Pharmaceuticals International, Inc., 6.75%, 10/01/17(f) | 922,250 | ||||||
2,650,000 | Valeant Pharmaceuticals International, Inc., 6.88%, 12/01/18(f) | 2,885,188 | ||||||
4,000,000 | Valeant Pharmaceuticals International, Inc., 6.38%, 10/15/20(f) | 4,430,000 | ||||||
3,750,000 | Vanguard Health Holding Co. II LLC/Vanguard Holding Co. II, Inc., 8.00%, 02/01/18 | 4,059,375 | ||||||
750,000 | Vanguard Health Holding Co. II LLC/Vanguard Holding Co. II, Inc., 7.75%, 02/01/19 | 814,688 | ||||||
5,000,000 | Vanguard Natural Resources LLC/VNR Finance Corp., 7.88%, 04/01/20 | 5,425,000 | ||||||
6,000,000 | ViaSat, Inc., 6.88%, 06/15/20 | 6,540,000 | ||||||
6,000,000 | Volcano Corp., Cnv., 1.75%, 12/01/17 | 5,808,750 | ||||||
5,000,000 | WebMD Health Corp., Cnv., 2.25%, 03/31/16 | 4,903,125 | ||||||
9,000,000 | WebMD Health Corp., Cnv., 2.50%, 01/31/18 | 8,246,250 | ||||||
1,650,000 | West Corp., 8.63%, 10/01/18 | 1,827,375 | ||||||
4,825,000 | West Corp., 7.88%, 01/15/19 | 5,259,250 | ||||||
1,200,000 | Windstream Corp., 7.88%, 11/01/17 | 1,401,000 | ||||||
1,000,000 | Windstream Corp., 8.13%, 09/01/18 | 1,100,000 | ||||||
1,550,000 | Windstream Corp., 7.00%, 03/15/19 | 1,586,813 | ||||||
750,000 | Windstream Corp., 7.75%, 10/15/20 | 823,125 | ||||||
1,000,000 | Windstream Corp., 7.50%, 06/01/22 | 1,102,500 | ||||||
1,750,000 | XM Satellite Radio, Inc., 7.63%, 11/01/18(f) | 1,942,500 |
Principal
Amount |
Value | |||||||
UNITED STATES (continued) | ||||||||
$ | 2,000,000 | Zayo Group LLC/Zayo Capital, Inc., 8.13%, 01/01/20 | $ | 2,255,000 | ||||
1,273,998,119 | ||||||||
Total Corporate Bonds
(Cost $1,395,310,324) |
1,445,134,095 | |||||||
GOVERNMENT BONDS — 12.4% | ||||||||
AUSTRALIA — 0.2% | ||||||||
7,390,000 | (g) | New South Wales Treasury Corp., 5.50%, 08/01/13 | 7,709,226 | |||||
685,000 | (g) | Queensland Treasury Corp., 6.00%, 08/14/13 | 716,296 | |||||
3,190,000 | (g) | Queensland Treasury Corp., 6.00%, 08/21/13 | 3,337,204 | |||||
11,762,726 | ||||||||
BRAZIL — 0.3% | ||||||||
9,490,000 | (g) | Brazil Notas do Tesouro Nacional, Series B, 6.00%, 05/15/15 | 11,754,471 | |||||
2,400,000 | (g) | Brazil Notas do Tesouro Nacional, Series B, 6.00%, 05/15/45 | 3,529,085 | |||||
3,900,000 | (g) | Brazil Notas do Tesouro Nacional, Series F, 10.00%, 01/01/17 | 2,075,432 | |||||
17,358,988 | ||||||||
CANADA — 0.5% | ||||||||
1,284,000 | (g) | Canadian Government Bond, 2.50%, 09/01/13 | 1,280,661 | |||||
6,795,000 | (g) | Canadian Government Bond, 1.00%, 02/01/14 | 6,744,752 | |||||
1,497,000 | (g) | Canadian Government Bond, 2.00%, 03/01/14 | 1,498,144 | |||||
3,578,000 | (g) | Canadian Government Bond, 2.25%, 08/01/14 | 3,607,016 | |||||
7,538,000 | (g) | Canadian Government Bond, 1.00%, 11/01/14 | 7,485,774 | |||||
3,635,000 | (g) | Canadian Government Bond, 2.00%, 12/01/14 | 3,666,968 | |||||
9,838,000 | (g) | Canadian Government Bond, 1.00%, 02/01/15 | 9,772,963 | |||||
811,000 | (g) | Canadian Treasury Bill, 9.80%, 08/15/13(j) | 802,644 | |||||
34,858,922 | ||||||||
HUNGARY — 0.6% | ||||||||
54,500,000 | (g) | Hungary Government Bond, 7.50%, 10/24/13 | 243,318 | |||||
133,100,000 | (g) | Hungary Government Bond, 5.50%, 02/12/14 | 591,373 |
28 |
|
Old Westbury Funds, Inc. | |
Global Opportunities Fund | |
Portfolio of Investments - (Continued) |
April
30, 2013
(Unaudited) |
Principal
Amount |
Value | |||||||
HUNGARY (continued) | ||||||||
$ | 402,550,000 | (g) | Hungary Government Bond, 6.75%, 08/22/14 | $ | 1,826,944 | |||
61,000,000 | (g) | Hungary Government Bond, 8.00%, 02/12/15 | 284,969 | |||||
108,050,000 | (g) | Hungary Government Bond, 7.75%, 08/24/15 | 510,597 | |||||
96,000,000 | (g) | Hungary Government Bond, 5.50%, 02/12/16 | 433,805 | |||||
85,800,000 | (g) | Hungary Government Bond, 6.75%, 02/24/17 | 402,018 | |||||
432,110,000 | (g) | Hungary Government Bond, 6.75%, 11/24/17 | 2,041,337 | |||||
84,800,000 | (g) | Hungary Government Bond, 6.50%, 06/24/19 | 401,038 | |||||
39,480,000 | (g) | Hungary Government Bond, 7.50%, 11/12/20 | 197,899 | |||||
54,700,000 | (g) | Hungary Government Bond, 7.00%, 06/24/22 | 268,496 | |||||
520,000 | (g) | Hungary Government International Bond, 4.38%, 07/04/17 | 691,662 | |||||
1,705,000 | (g) | Hungary Government International Bond, 5.75%, 06/11/18 | 2,394,854 | |||||
5,100,000 | (g) | Hungary Government International Bond, 6.00%, 01/11/19 | 7,221,591 | |||||
2,920,000 | Hungary Government International Bond, 6.25%, 01/29/20 | 3,244,850 | ||||||
10,537,000 | (g) | Hungary Government International Bond, 3.88%, 02/24/20 | 13,335,516 | |||||
3,930,000 | Hungary Government International Bond, 6.38%, 03/29/21 | 4,396,884 | ||||||
32,600,000 | (g) | Hungary Treasury Bills, 6.38%, 05/29/13(j) | 143,060 | |||||
142,400,000 | (g) | Hungary Treasury Bills, 6.31%, 09/18/13(j) | 616,469 | |||||
40,490,000 | (g) | Hungary Treasury Bills, 5.18%, 01/08/14(j) | 172,959 | |||||
39,419,639 | ||||||||
ICELAND — 0.0% | ||||||||
1,830,000 | Iceland Government International Bond, 5.88%, 05/11/22(f) | 2,112,894 | ||||||
INDONESIA — 0.3% | ||||||||
23,560,000,000 | (g) | Indonesia Treasury Bond, 9.00%, 09/15/13 | 2,466,180 | |||||
3,590,000,000 | (g) | Indonesia Treasury Bond, 9.00%, 09/15/18 | 436,733 | |||||
33,800,000,000 | (g) | Indonesia Treasury Bond, 12.80%, 06/15/21 | 5,147,400 |
Principal
Amount |
Value | |||||||
INDONESIA (continued) | ||||||||
$ | 33,160,000,000 | (g) | Indonesia Treasury Bond, 12.90%, 06/15/22 | $ | 5,190,941 | |||
1,590,000,000 | (g) | Indonesia Treasury Bond, 10.25%, 07/15/22 | 218,100 | |||||
39,380,000,000 | (g) | Indonesia Treasury Bond, 9.50%, 07/15/23 | 5,261,302 | |||||
18,720,656 | ||||||||
IRELAND — 1.3% | ||||||||
542,000 | (g) | Ireland Government Bond, 4.50%, 10/18/18 | 783,924 | |||||
820,000 | (g) | Ireland Government Bond, 4.40%, 06/18/19 | 1,169,036 | |||||
1,874,000 | (g) | Ireland Government Bond, 5.90%, 10/18/19 | 2,881,053 | |||||
3,108,000 | (g) | Ireland Government Bond, 4.50%, 04/18/20 | 4,437,965 | |||||
32,580,000 | (g) | Ireland Government Bond, 5.00%, 10/18/20 | 47,904,824 | |||||
20,545,160 | (g) | Ireland Government Bond, 5.40%, 03/13/25 | 31,014,309 | |||||
88,191,111 | ||||||||
MALAYSIA — 1.7% | ||||||||
6,560,000 | (g) | Bank Negara Malaysia Monetary Notes, 2.88%, 05/02/13(j) | 2,156,122 | |||||
130,000 | (g) | Bank Negara Malaysia Monetary Notes, 2.96%, 05/14/13(j) | 42,686 | |||||
4,875,000 | (g) | Bank Negara Malaysia Monetary Notes, 2.86%, 05/23/13(j) | 1,599,543 | |||||
345,000 | (g) | Bank Negara Malaysia Monetary Notes, 3.00%, 05/28/13(j) | 113,152 | |||||
9,450,000 | (g) | Bank Negara Malaysia Monetary Notes, 2.95%, 06/04/13(j) | 3,097,615 | |||||
8,020,000 | (g) | Bank Negara Malaysia Monetary Notes, 2.85%, 06/11/13(j) | 2,627,381 | |||||
20,975,000 | (g) | Bank Negara Malaysia Monetary Notes, 2.93%, 06/18/13(j) | 6,870,066 | |||||
9,940,000 | (g) | Bank Negara Malaysia Monetary Notes, 2.87%, 06/20/13(j) | 3,254,011 | |||||
4,790,000 | (g) | Bank Negara Malaysia Monetary Notes, 2.95%, 06/27/13(j) | 1,567,194 | |||||
3,990,000 | (g) | Bank Negara Malaysia Monetary Notes, 2.94%, 07/04/13(j) | 1,304,716 |
29 |
|
Old Westbury Funds, Inc. | |
Global Opportunities Fund | |
Portfolio of Investments - (Continued) |
April
30, 2013
(Unaudited) |
Principal
Amount |
Value | |||||||
MALAYSIA (continued) | ||||||||
$ | 905,000 | (g) | Bank Negara Malaysia Monetary Notes, 2.86%, 07/11/13(j) | $ | 295,766 | |||
3,610,000 | (g) | Bank Negara Malaysia Monetary Notes, 2.94%, 07/18/13(j) | 1,179,136 | |||||
240,000 | (g) | Bank Negara Malaysia Monetary Notes, 2.85%, 07/25/13(j) | 78,348 | |||||
910,000 | (g) | Bank Negara Malaysia Monetary Notes, 2.85%, 08/06/13(j) | 296,785 | |||||
1,120,000 | (g) | Bank Negara Malaysia Monetary Notes, 2.85%, 08/15/13(j) | 365,015 | |||||
490,000 | (g) | Bank Negara Malaysia Monetary Notes, 2.85%, 08/27/13(j) | 159,600 | |||||
530,000 | (g) | Bank Negara Malaysia Monetary Notes, 3.01%, 09/05/13(j) | 172,444 | |||||
80,000 | (g) | Bank Negara Malaysia Monetary Notes, 2.90%, 09/26/13(j) | 25,986 | |||||
170,000 | (g) | Bank Negara Malaysia Monetary Notes, 2.98%, 10/08/13(j) | 55,167 | |||||
30,000 | (g) | Bank Negara Malaysia Monetary Notes, 2.88%, 10/10/13(j) | 9,737 | |||||
30,000 | (g) | Bank Negara Malaysia Monetary Notes, 2.88%, 10/22/13(j) | 9,728 | |||||
150,000 | (g) | Bank Negara Malaysia Monetary Notes, 2.89%, 10/31/13(j) | 48,587 | |||||
5,080,000 | (g) | Bank Negara Malaysia Monetary Notes, 2.90%, 11/19/13(j) | 1,642,998 | |||||
22,510,000 | (g) | Bank Negara Malaysia Monetary Notes, 2.89%, 12/12/13(j) | 7,266,812 | |||||
3,255,000 | (g) | Bank Negara Malaysia Monetary Notes, 2.86%, 01/09/14(j) | 1,047,923 | |||||
3,010,000 | (g) | Bank Negara Malaysia Monetary Notes, 2.86%, 01/16/14(j) | 968,930 | |||||
270,000 | (g) | Bank Negara Malaysia Monetary Notes, 2.83%, 02/06/14(j) | 86,784 | |||||
3,880,000 | (g) | Bank Negara Malaysia Monetary Notes, 2.83%, 02/18/14(j) | 1,245,944 |
Principal
Amount |
Value | |||||||
MALAYSIA (continued) | ||||||||
$ | 3,125,000 | (g) | Bank Negara Malaysia Monetary Notes, 2.83%, 02/20/14(j) | $ | 1,003,342 | |||
3,105,000 | (g) | Bank Negara Malaysia Monetary Notes, 2.86%, 02/25/14(j) | 996,532 | |||||
315,000 | (g) | Bank Negara Malaysia Monetary Notes, 2.89%, 03/13/14(j) | 100,971 | |||||
590,000 | (g) | Bank Negara Malaysia Monetary Notes, 2.84%, 03/20/14(j) | 189,015 | |||||
945,000 | (g) | Malaysia Government Bond, 3.70%, 05/15/13 | 310,674 | |||||
66,785,000 | (g) | Malaysia Government Bond, 3.21%, 05/31/13 | 21,952,872 | |||||
42,680,000 | (g) | Malaysia Government Bond, 3.46%, 07/31/13 | 14,042,148 | |||||
10,000 | (g) | Malaysia Government Bond, 8.00%, 10/30/13 | 3,367 | |||||
83,590,000 | (g) | Malaysia Government Bond, 5.09%, 04/30/14 | 28,049,617 | |||||
40,565,000 | (g) | Malaysia Government Bond, 3.43%, 08/15/14 | 13,420,462 | |||||
1,170,000 | (g) | Malaysia Government Bond, 3.74%, 02/27/15 | 390,021 | |||||
1,055,000 | (g) | Malaysia Government Bond, 3.84%, 08/12/15 | 353,620 | |||||
490,000 | (g) | Malaysia Treasury Bill, 2.88%, 05/03/13(j) | 161,052 | |||||
260,000 | (g) | Malaysia Treasury Bill, 2.86%, 05/31/13(j) | 85,277 | |||||
118,647,146 | ||||||||
MEXICO — 1.2% | ||||||||
118,714,000 | (g) | Mexican Bonos, 9.00%, 06/20/13 | 9,840,348 | |||||
264,350,000 | (g) | Mexican Bonos, 8.00%, 12/19/13 | 22,319,410 | |||||
8,832,000 | (g) | Mexican Bonos, 7.00%, 06/19/14 | 751,995 | |||||
204,810,000 | (g) | Mexican Bonos, 9.50%, 12/18/14 | 18,331,493 | |||||
5,803,000 | (g) | Mexican Bonos, 6.00%, 06/18/15 | 497,549 | |||||
130,018,000 | (g) | Mexican Bonos, 8.00%, 12/17/15 | 11,762,280 | |||||
28,711,000 | (g) | Mexican Bonos, 6.25%, 06/16/16 | 2,516,009 | |||||
36,000,000 | (g) | Mexican Bonos, 7.25%, 12/15/16 | 3,280,648 | |||||
23,900,000 | (g) | Mexican Bonos, 7.75%, 12/14/17 | 2,266,371 | |||||
1,059,200 | (g) | Mexican Udibonos, 4.50%, 12/18/14 | 459,484 |
30 |
|
Old Westbury Funds, Inc. | |
Global Opportunities Fund | |
Portfolio of Investments - (Continued) | April 30, 2013 |
(Unaudited) |
Principal
Amount |
Value | |||||||
MEXICO (continued) | ||||||||
$ | 2,720,000 | (g) |
Mexican Udibonos,
5.00%, 06/16/16 |
$ | 1,254,783 | |||
2,712,000 | (g) |
Mexican Udibonos,
3.50%, 12/14/17 |
1,243,708 | |||||
1,851,000 | (g) |
Mexican Udibonos,
4.00%, 06/13/19 |
898,682 | |||||
1,465,000 | (g) |
Mexican Udibonos,
2.50%, 12/10/20 |
665,977 | |||||
204,320,000 | (g) |
Mexico Cetes,
4.58%, 09/19/13(j) |
1,657,808 | |||||
502,372,000 | (g) |
Mexico Cetes,
4.06%, 01/09/14(j) |
4,025,662 | |||||
282,270,000 | (g) |
Mexico Cetes,
3.96%, 04/30/14(j) |
2,235,183 | |||||
84,007,390 | ||||||||
NORWAY — 0.0% | ||||||||
18,659,000 | (g) |
Norway Treasury Bill,
1.55%, 09/18/13(j) |
3,216,894 | |||||
PHILIPPINES — 0.2% | ||||||||
312,450,000 | (g) |
Philippine Government Bond,
9.13%, 09/04/16 |
9,290,522 | |||||
70,000,000 | (g) |
Philippine Treasury Bill,
1.61%, 05/15/13(j) |
1,700,272 | |||||
18,620,000 | (g) |
Philippine Treasury Bill,
0.22%, 09/04/13(j) |
452,050 | |||||
61,010,000 | (g) |
Philippine Treasury Bill,
0.16%, 10/02/13(j) |
1,480,706 | |||||
40,610,000 | (g) |
Philippine Treasury Bill,
0.55%, 11/13/13(j) |
981,744 | |||||
26,300,000 | (g) |
Philippine Treasury Bill,
0.46%, 03/05/14(j) |
632,932 | |||||
114,490,000 | (g) |
Philippine Treasury Bill,
0.21%, 04/02/14(j) |
2,750,792 | |||||
17,289,018 | ||||||||
POLAND — 1.5% | ||||||||
14,329,000 | (g) |
Poland Government Bond,
4.58%, 07/25/13(j) |
4,507,954 | |||||
112,110,000 | (g) |
Poland Government Bond,
5.00%, 10/24/13 |
35,841,423 | |||||
15,080,000 | (g) |
Poland Government Bond,
3.80%, 01/25/14(j) |
4,675,022 | |||||
90,140,000 | (g) |
Poland Government Bond,
5.75%, 04/25/14 |
29,368,207 | |||||
4,080,000 | (g) |
Poland Government Bond,
4.00%, 07/25/14(j) |
1,250,528 | |||||
6,380,000 | (g) |
Poland Government Bond,
5.50%, 04/25/15 |
2,129,729 | |||||
5,685,000 | (g) |
Poland Government Bond,
3.01%, 07/25/15(j) |
1,699,734 | |||||
31,445,000 | (g) |
Poland Government Bond,
6.25%, 10/24/15 |
10,798,288 |
Principal
Amount |
Value | |||||||
POLAND (continued) | ||||||||
$ | 8,188,000 | (g) |
Poland Government Bond,
3.98%, 01/25/17(e) |
$ | 2,602,923 | |||
8,307,000 | (g) |
Poland Government Bond,
3.98%, 01/25/21(e) |
2,620,773 | |||||
24,800,000 | (g) |
Poland Government Bond,
5.75%, 09/23/22 |
9,466,437 | |||||
104,961,018 | ||||||||
RUSSIA — 0.2% | ||||||||
8,541,425 |
Russian Foreign Bond - Eurobond, STEP,
7.50%, 03/31/30(f) |
10,745,113 | ||||||
SERBIA — 0.1% | ||||||||
1,540,000 |
Republic of Serbia,
5.25%, 11/21/17(f) |
1,625,470 | ||||||
3,280,000 |
Republic of Serbia,
7.25%, 09/28/21(f) |
3,829,400 | ||||||
5,454,870 | ||||||||
SINGAPORE — 0.7% | ||||||||
4,723,000 | (g) |
Monetary Authority of Singapore,
0.25%, 07/05/13(j) |
3,833,034 | |||||
32,505,000 | (g) |
Singapore Government Bond,
2.25%, 07/01/13 |
26,479,765 | |||||
12,500,000 | (g) |
Singapore Government Bond,
0.25%, 02/01/14 |
10,153,639 | |||||
1,135,000 | (g) |
Singapore Treasury Bill,
0.16%, 05/30/13(j) |
921,335 | |||||
1,814,000 | (g) |
Singapore Treasury Bill,
0.16%, 07/11/13(j) |
1,472,157 | |||||
9,440,000 | (g) |
Singapore Treasury Bill,
0.24%, 10/04/13(j) |
7,656,501 | |||||
50,516,431 | ||||||||
SLOVENIA — 0.0% | ||||||||
2,860,000 |
Slovenia Government International Bond,
5.50%, 10/26/22(f) |
2,831,400 | ||||||
SOUTH KOREA — 2.0% | ||||||||
3,122,000,000 | (g) |
Korea Monetary Stabilization Bond,
3.38%, 05/09/13 |
2,835,160 | |||||
499,540,000 | (g) |
Korea Monetary Stabilization Bond,
3.76%, 06/02/13 |
453,987 | |||||
2,141,060,000 | (g) |
Korea Monetary Stabilization Bond,
3.28%, 06/09/13 |
1,945,285 | |||||
1,979,360,000 | (g) |
Korea Monetary Stabilization Bond,
2.58%, 06/11/13(j) |
1,797,298 |
31 |
|
Old Westbury Funds, Inc. | |
Global Opportunities Fund | |
Portfolio of Investments - (Continued) | April 30, 2013 |
(Unaudited) |
Principal
Amount |
Value | |||||||
SOUTH KOREA (continued) | ||||||||
$ | 3,194,650,000 | (g) | Korea Monetary Stabilization Bond, 3.90%, 08/02/13 | $ | 2,909,705 | |||
874,200,000 | (g) | Korea Monetary Stabilization Bond, 3.59%, 10/02/13 | 796,917 | |||||
1,498,640,000 | (g) | Korea Monetary Stabilization Bond, 3.48%, 12/02/13 | 1,367,759 | |||||
31,436,630,000 | (g) | Korea Monetary Stabilization Bond, 3.47%, 02/02/14 | 28,730,619 | |||||
3,028,500,000 | (g) | Korea Monetary Stabilization Bond, 3.59%, 04/02/14 | 2,775,465 | |||||
3,590,530,000 | (g) | Korea Monetary Stabilization Bond, 3.28%, 06/02/14 | 3,285,682 | |||||
11,704,200,000 | (g) | Korea Monetary Stabilization Bond, 2.82%, 08/02/14 | 10,662,778 | |||||
10,385,800,000 | (g) | Korea Monetary Stabilization Bond, 2.78%, 10/02/14 | 9,461,404 | |||||
6,039,800,000 | (g) | Korea Monetary Stabilization Bond, 2.84%, 12/02/14 | 5,509,956 | |||||
2,226,780,000 | (g) | Korea Monetary Stabilization Bond, 2.74%, 02/02/15 | 2,029,552 | |||||
312,000,000 | (g) | Korea Monetary Stabilization Bond, 2.47%, 04/02/15 | 283,017 | |||||
30,242,820,000 | (g) | Korea Treasury Bond, 3.75%, 06/10/13 | 27,492,215 | |||||
41,966,450,000 | (g) | Korea Treasury Bond, 3.00%, 12/10/13 | 38,197,319 | |||||
1,641,520,000 | (g) | Korea Treasury Bond, 3.25%, 12/10/14 | 1,507,380 | |||||
142,041,498 | ||||||||
SRI LANKA — 0.1% | ||||||||
13,560,000 | (g) | Sri Lanka Government Bonds, Series A, 6.50%, 07/15/15 | 97,623 | |||||
264,000,000 | (g) | Sri Lanka Government Bonds, Series A, 11.00%, 08/01/15 | 2,081,668 | |||||
385,000,000 | (g) | Sri Lanka Government Bonds, Series B, 11.00%, 09/01/15 | 3,034,031 | |||||
5,213,322 | ||||||||
SWEDEN — 0.9% | ||||||||
79,720,000 | (g) | Kommuninvest I Sverige AB, 2.25%, 05/05/14 | 12,467,775 |
Principal
Amount |
Value | |||||||
SWEDEN (continued) | ||||||||
$ | 81,025,000 | (g) | Sweden Government Bond, 1.50%, 08/30/13 | $ | 12,526,961 | |||
150,080,000 | (g) | Sweden Government Bond, 6.75%, 05/05/14 | 24,508,262 | |||||
25,930,000 | (g) | Sweden Treasury Bill, 0.87%, 06/19/13(j) | 3,995,374 | |||||
61,530,000 | (g) | Sweden Treasury Bill, 0.87%, 09/18/13(j) | 9,460,983 | |||||
62,959,355 | ||||||||
UKRAINE — 0.5% | ||||||||
200,000 | Financing of Infrastrucural Projects State Enterprise, 7.40%, 04/20/18(f) | 189,970 | ||||||
100,000 | Ukraine Government International Bond, 7.65%, 06/11/13(f) | 100,290 | ||||||
100,000 | (g) | Ukraine Government International Bond, 4.95%, 10/13/15(f) | 128,864 | |||||
200,000 | Ukraine Government International Bond, 6.25%, 06/17/16(f) | 195,500 | ||||||
4,230,000 | Ukraine Government International Bond, 9.25%, 07/24/17(f) | 4,515,525 | ||||||
3,250,000 | Ukraine Government International Bond, 6.75%, 11/14/17(f) | 3,201,250 | ||||||
11,500,000 | Ukraine Government International Bond, 7.75%, 09/23/20(f) | 11,672,500 | ||||||
14,270,000 | Ukraine Government International Bond, 7.95%, 02/23/21(f) | 14,519,725 | ||||||
1,580,000 | Ukraine Government International Bond, 7.80%, 11/28/22(f) | 1,573,917 | ||||||
36,097,541 | ||||||||
VENEZUELA — 0.0% | ||||||||
2,080,000 | Venezuela Government International Bond, 10.75%, 09/19/13 | 2,121,600 | ||||||
VIETNAM — 0.1% | ||||||||
1,625,000 | Vietnam Government International Bond, 6.88%, 01/15/16(f) | 1,799,688 | ||||||
2,490,000 | Vietnam Government International Bond, 6.75%, 01/29/20(f) | 2,956,875 | ||||||
4,756,563 | ||||||||
Total Government Bonds
(Cost $810,292,613) |
863,284,095 |
32 |
|
Old Westbury Funds, Inc. | |
Global Opportunities Fund | |
Portfolio of Investments - (Continued) | April 30, 2013 |
(Unaudited) |
Principal
Amount |
Value | |||||||
ASSET-BACKED SECURITIES — 3.3% | ||||||||
UNITED STATES — 3.3% | ||||||||
$ | 14,872,071 | Asset-Backed Funding Certificates Trust, Series 2006-OPT3, Class A3B, 0.36%, 11/25/36(e) | $ | 7,883,527 | ||||
4,975,082 | Bear Stearns Asset-Backed Securities Trust, Series 2006-AC2, Class 22A1, 0.55%, 03/25/36(e) | 2,022,098 | ||||||
4,975,082 | Bear Stearns Asset-Backed Securities Trust, Series 2006-AC2, Class 22A3, 0.55%, 03/25/36(e) | 2,022,098 | ||||||
24,631,907 | Bear Stearns Asset-Backed Securities Trust, Series 2006-AQ1, Class 2A2, 0.40%, 10/25/36(e) | 11,945,428 | ||||||
11,034,535 | Bear Stearns Asset-Backed Securities Trust, Series 2007-AC4, Class A1, 0.50%, 02/25/37(e) | 6,402,948 | ||||||
4,884,740 | Carrington Mortgage Loan Trust, Series 2007-FRE1, Class A4, 0.62%, 02/25/37(e) | 2,644,728 | ||||||
8,250,000 | Carrington Mortgage Loan Trust, Series 2007-RFC1, Class A3, 0.34%, 12/25/36(e) | 5,266,472 | ||||||
5,700,000 | Carrington Mortgage Loan Trust, Series 2007-RFC1, Class A4, 0.42%, 12/25/36(e) | 3,287,458 | ||||||
5,642,064 | Conseco Financial Corp., Series 1999-5, Class A5, 7.86%, 03/01/30(e) | 4,998,597 | ||||||
16,610,332 | Countrywide Asset-Backed Certificates, Series 2005-IM3, Class A3, 0.45%, 03/25/36(e) | 9,859,267 | ||||||
3,512,556 | Countrywide Asset-Backed Certificates, Series 2006-11, Class 3AV2, 0.36%, 09/25/46(e) | 2,421,457 | ||||||
7,800,000 | Countrywide Asset-Backed Certificates, Series 2006-20, Class 2A3, 0.35%, 04/25/47(e) | 5,930,186 | ||||||
4,946,103 | Countrywide Asset-Backed Certificates, Series 2006-7, Class 2A3, 0.35%, 04/25/46(e) | 4,329,379 | ||||||
6,360,000 | Countrywide Asset-Backed Certificates, Series 2007-4, Class A2, 5.53%, 04/25/47(e) | 6,310,486 | ||||||
10,437,179 | Credit-Based Asset Servicing & Securitization LLC Trust, Series 2006-CB9, Class A2, 0.31%, 11/25/36(e) | 5,343,223 | ||||||
3,800,753 | Credit-Based Asset Servicing & Securitization LLC Trust, Series 2006-CB9, Class A3, 0.35%, 11/25/36(e) | 1,957,455 | ||||||
9,773,612 | Fieldstone Mortgage Investment Trust, Series 2006-3, Class 2A3, 0.36%, 11/25/36(e) | 4,818,070 |
Principal
Amount |
Value | |||||||
UNITED STATES (continued) | ||||||||
$ | 6,861,438 | Fieldstone Mortgage Investment Trust, Series 2006-3, Class 2A4, 0.44%, 11/25/36(e) | $ | 3,390,616 | ||||
8,186,955 | First Franklin Mortgage Loan Trust Asset Backed Certificates, Series 2007-FF2, Class A2C, 0.35%, 03/25/37(e) | 4,626,662 | ||||||
10,000,000 | Fremont Home Loan Trust, Series 2006-3, Class 2A3, 0.37%, 02/25/37(e) | 5,471,127 | ||||||
11,186,805 | Fremont Home Loan Trust, Series 2006-B, Class 2A3, 0.36%, 08/25/36(e) | 4,522,882 | ||||||
8,822,955 | Fremont Home Loan Trust, Series 2006-E, Class 2A3, 0.35%, 01/25/37(e) | 4,522,624 | ||||||
6,000,000 | GSAA Trust, Series 2005-11, Class 3A5, 0.57%, 10/25/35(e) | 4,561,165 | ||||||
1,108,500 | GSAA Trust, Series 2006-7, Class AF2, 5.99%, 03/25/46(e) | 928,851 | ||||||
36,390,000 | Indymac Residential Asset Backed Trust, Series 2007-B, Class 2A3, 0.40%, 07/25/37(e) | 20,979,021 | ||||||
6,608,977 | Lehman XS Trust, Series 2007-1, Class 2A1, 7.00%, 02/25/37 | 6,466,515 | ||||||
3,068,154 | Lehman XS Trust, Series 2007-3, Class 2A1, 0.28%, 03/25/37(e) | 2,865,889 | ||||||
9,914,495 | Mastr Asset Backed Securities Trust, Series 2006-NC3, Class A4, 0.36%, 10/25/36(e) | 5,806,002 | ||||||
2,145,000 | Morgan Stanley ABS Capital I, Series 2006-HE4, Class A4, 0.44%, 06/25/36(e) | 1,244,061 | ||||||
13,987,150 | Morgan Stanley ABS Capital I, Series 2006-HE6, Class A2C, 0.35%, 09/25/36(e) | 6,596,947 | ||||||
5,000,000 | Morgan Stanley ABS Capital I, Series 2007-HE1, Class A2D, 0.43%, 11/25/36(e) | 2,839,612 | ||||||
12,320,000 | Morgan Stanley ABS Capital I, Series 2007-NC3, Class A2B, 0.34%, 05/25/37(e) | 6,996,482 | ||||||
7,528,367 | Morgan Stanley Mortgage Loan Trust, Series 2006-12XS, Class A4, STEP, 6.01%, 10/25/36 | 4,720,410 | ||||||
7,500,000 | Nomura Home Equity Loan Inc Home Equity Loan Trust, Series 2006-HE1, Class M1, 0.61%, 02/25/36(e) | 5,814,415 | ||||||
7,500,000 | Nomura Home Equity Loan, Inc., Home Equity Loan Trust, Series 2005-FM1, Class M2, 0.69%, 05/25/35(e) | 6,008,902 | ||||||
3,103,752 | Oakwood Mortgage Investors, Inc., Series 2002-B, Class A4, 7.09%, 06/15/32(e) | 3,379,525 |
33 |
|
Old Westbury Funds, Inc. | |
Global Opportunities Fund | |
Portfolio of Investments - (Continued) | April 30, 2013 |
(Unaudited) |
Principal
Amount |
Value | |||||||
COLLATERALIZED MORTGAGE
OBLIGATIONS (continued) |
||||||||
$ | 4,309,236 | Banc of America Alternative Loan Trust, Series 2005-9, Class 2CB1, 6.00%, 10/25/35 | $ | 4,013,287 | ||||
5,840,639 | Banc of America Alternative Loan Trust, Series 2005-9, Class 4A2, 5.50%, 10/25/35 | 5,208,422 | ||||||
6,177,237 | Banc of America Funding Corp, Series 2007-1, Class TA5, STEP, 6.09%, 01/25/37 | 5,314,506 | ||||||
1,533,737 | Banc of America Funding Corp., Series 2005-F, Class 6A1, 5.05%, 09/20/35(e) | 1,463,812 | ||||||
7,047,107 | Banc of America Funding Corp., Series 2005-H, Class 2A1, 3.10%, 11/20/35(e) | 6,046,496 | ||||||
2,173,804 | Banc of America Funding Corp., Series 2006-A, Class 3A2, 2.92%, 02/20/36(e) | 1,667,734 | ||||||
2,412,112 | Banc of America Funding Corp., Series 2006-E, Class 2A1, 3.09%, 06/20/36(e) | 1,948,556 | ||||||
3,602,321 | Banc of America Funding Corp., Series 2006-F, Class 1A1, 2.69%, 07/20/36(e) | 3,436,301 | ||||||
1,871,375 | Banc of America Funding Corp., Series 2007-7, Class 1A1, 6.00%, 08/25/37 | 1,791,335 | ||||||
12,178,970 | Banc of America Funding Corp., Series 2007-A, Class 2A1, 0.36%, 02/20/47(e) | 10,280,450 | ||||||
3,103,180 | Banc of America Mortgage Securities, Inc., Series 2005-I, Class 2A5, 3.10%, 10/25/35(e) | 2,686,168 | ||||||
2,967,937 | Banc of America Mortgage Securities, Inc., Series 2005-K, Class 2A1, 3.08%, 12/25/35(e) | 2,639,289 | ||||||
12,733,801 | BCAP LLC Trust, Series 2007-AA2, Class 12A1, 0.41%, 05/25/47(e) | 8,370,467 | ||||||
2,746,605 | BCAP LLC Trust, Series 2007-AA3, Class 1A1B, 0.34%, 04/25/37(e) | 2,304,606 | ||||||
3,650,053 | BCAP LLC Trust, Series 2007-AA3, Class 2A1A, 0.42%, 05/25/47(e) | 2,723,656 | ||||||
6,464,038 | BCAP LLC Trust, Series 2010-RR11, Class 4A1, 5.20%, 03/27/47(e)(f) | 5,532,183 | ||||||
2,913,991 | BCAP LLC Trust, Series 2011-RR2, Class 1A1, 3.11%, 07/25/36(e)(f) | 2,734,959 | ||||||
4,577,684 | BCAP LLC Trust, Series 2011-RR9, Class 7A1, 2.16%, 04/26/37(e)(f) | 4,390,347 | ||||||
5,662,831 | Bear Stearns Adjustable Rate Mortgage Trust, Series 2005-12, Class 23A1, 2.49%, 02/25/36(e) | 3,805,384 | ||||||
2,722,830 | Bear Stearns Adjustable Rate Mortgage Trust, Series 2005-6, Class 5A1, 5.19%, 08/25/35(e) | 2,281,597 |
34 |
|
Old Westbury Funds, Inc. | |
Global Opportunities Fund | |
Portfolio of Investments - (Continued) | April 30, 2013 |
(Unaudited) |
Principal
Amount |
Value | |||||||
COLLATERALIZED MORTGAGE OBLIGATIONS (continued) | ||||||||
$ | 3,830,685 | Bear Stearns Adjustable Rate Mortgage Trust, Series 2006-1, Class A1, 2.37%, 02/25/36(e) | $ | 3,708,391 | ||||
1,824,782 | Bear Stearns Adjustable Rate Mortgage Trust, Series 2007-3, Class 1A1, 2.99%, 05/25/47(e) | 1,520,037 | ||||||
11,175,189 | Bear Stearns Adjustable Rate Mortgage Trust, Series 2007-4, Class 12A1, 5.56%, 05/25/37(e) | 9,980,949 | ||||||
5,856,379 | Bear Stearns Alt-A Trust, Series 2005-9, Class 26A1, 5.17%, 11/25/35(e) | 4,307,561 | ||||||
19,235,530 | Bear Stearns Alt-A Trust, Series 2007-1, Class 21A1, 2.90%, 01/25/47(e) | 13,340,580 | ||||||
1,005,867 | Citigroup Mortgage Loan Trust, Inc., Series 2005-2, Class 1A1, 2.77%, 05/25/35(e) | 914,114 | ||||||
2,279,123 | Citigroup Mortgage Loan Trust, Inc., Series 2006-AR3, Class 1A1A, 5.78%, 06/25/36(e) | 2,052,533 | ||||||
1,316,245 | Citigroup Mortgage Loan Trust, Inc., Series 2006-AR3, Class 1A2A, 5.63%, 06/25/36(e) | 1,246,557 | ||||||
5,613,522 | Citigroup Mortgage Loan Trust, Inc., Series 2006-AR9, Class 2A, 5.72%, 11/25/36(e) | 4,786,917 | ||||||
4,340,286 | Citigroup Mortgage Loan Trust, Inc., Series 2007-9, Class 1A1, 5.75%, 04/25/47(f) | 3,358,380 | ||||||
5,464,610 | Citigroup Mortgage Loan Trust, Inc., Series 2007-9, Class 1A3, 5.75%, 04/25/47(f) | 3,884,728 | ||||||
997,046 | Citimortgage Alternative Loan Trust, Series 2007-A3, Class 1A7, 5.75%, 03/25/37 | 849,972 | ||||||
1,269,787 | Countrywide Alternative Loan Trust, Series 2004-36CB, Class 1A1, 6.00%, 02/25/35 | 1,209,637 | ||||||
6,151,011 | Countrywide Alternative Loan Trust, Series 2005-22T1, Class A5, 5.50%, 06/25/35 | 6,046,804 | ||||||
3,058,091 | Countrywide Alternative Loan Trust, Series 2005-31, Class 2A1, 0.50%, 08/25/35(e) | 2,457,104 | ||||||
6,302,418 | Countrywide Alternative Loan Trust, Series 2005-36, Class 2A1A, 0.51%, 08/25/35(e) | 4,145,778 | ||||||
9,936,384 | Countrywide Alternative Loan Trust, Series 2005-38, Class A3, 0.55%, 09/25/35(e) | 8,484,687 | ||||||
8,202,229 | Countrywide Alternative Loan Trust, Series 2005-46CB, Class A20, 5.50%, 10/25/35 | 7,668,414 |
Principal
Amount |
Value | |||||||
COLLATERALIZED MORTGAGE OBLIGATIONS(continued) | ||||||||
$ | 2,141,173 | Countrywide Alternative Loan Trust, Series 2005-50CB, Class 1A1, 5.50%, 11/25/35 | $ | 1,896,097 | ||||
4,633,160 | Countrywide Alternative Loan Trust, Series 2005-63, Class 5A1, 2.78%, 12/25/35(e) | 3,829,143 | ||||||
302,157 | Countrywide Alternative Loan Trust, Series 2005-69, Class A1, 1.18%, 12/25/35(e) | 252,188 | ||||||
7,382,318 | Countrywide Alternative Loan Trust, Series 2005-7CB, Class 2A8, 0.65%, 04/25/35(e) | 5,926,499 | ||||||
2,999,089 | Countrywide Alternative Loan Trust, Series 2005-J14, Class A3, 5.50%, 12/25/35 | 2,579,396 | ||||||
6,244,545 | Countrywide Alternative Loan Trust, Series 2005-J3, Class 1A1, 0.75%, 05/25/35(e) | 5,292,368 | ||||||
8,194,073 | Countrywide Alternative Loan Trust, Series 2006-12CB, Class A10, 0.55%, 05/25/36(e) | 4,733,831 | ||||||
4,622,240 | Countrywide Alternative Loan Trust, Series 2006-15CB, Class A1, 6.50%, 06/25/36 | 3,287,775 | ||||||
9,703,551 | Countrywide Alternative Loan Trust, Series 2006-20CB, Class A9, 6.00%, 07/25/36 | 6,628,461 | ||||||
4,611,753 | Countrywide Alternative Loan Trust, Series 2006-22R, Class 2A1, 6.25%, 05/25/36 | 2,787,632 | ||||||
3,799,163 | Countrywide Alternative Loan Trust, Series 2006-24CB, Class A13, 0.55%, 06/25/36(e) | 2,519,089 | ||||||
3,799,163 | Countrywide Alternative Loan Trust, Series 2006-24CB, Class A14, 6.95%, 06/25/36(e) | 1,074,826 | ||||||
3,916,404 | Countrywide Alternative Loan Trust, Series 2006-24CB, Class A15, 5.75%, 06/25/36 | 3,380,650 | ||||||
1,568,625 | Countrywide Alternative Loan Trust, Series 2006-25CB, Class A2, 6.00%, 10/25/36 | 1,317,072 | ||||||
3,847,779 | Countrywide Alternative Loan Trust, Series 2006-2CB, Class A4, 0.60%, 03/25/36(e) | 2,308,853 | ||||||
10,808,099 | Countrywide Alternative Loan Trust, Series 2006-2CB, Class A6, 5.50%, 03/25/36 | 8,607,799 | ||||||
2,233,788 | Countrywide Alternative Loan Trust, Series 2006-2CB, Class A8, 6.00%, 03/25/36 | 1,845,370 | ||||||
4,251,074 | Countrywide Alternative Loan Trust, Series 2006-41CB, Class 1A10, 6.00%, 01/25/37 | 3,592,729 |
35 |
|
Old Westbury Funds, Inc. | |
Global Opportunities Fund | |
Portfolio of Investments - (Continued) | April 30, 2013 |
(Unaudited) |
Principal
Amount |
Value | |||||||
COLLATERALIZED MORTGAGE OBLIGATIONS (continued) | ||||||||
$ | 3,079,730 | Countrywide Alternative Loan Trust, Series 2006-41CB, Class 1A4, 5.75%, 01/25/37 | $ | 2,561,595 | ||||
5,667,382 | Countrywide Alternative Loan Trust, Series 2006-43CB, Class 1A12, 5.75%, 02/25/37 | 4,628,083 | ||||||
3,732,967 | Countrywide Alternative Loan Trust, Series 2006-45T1, Class 2A2, 6.00%, 02/25/37 | 3,066,792 | ||||||
8,535,726 | Countrywide Alternative Loan Trust, Series 2006-45T1, Class 2A5, 6.00%, 02/25/37 | 7,360,284 | ||||||
663,835 | Countrywide Alternative Loan Trust, Series 2006-6CB, Class 1A10, 5.50%, 05/25/36 | 564,704 | ||||||
1,883,363 | Countrywide Alternative Loan Trust, Series 2006-6CB, Class 1A2, 0.60%, 05/25/36(e) | 1,277,962 | ||||||
10,156,578 | Countrywide Alternative Loan Trust, Series 2006-7CB, Class 2A1, 6.50%, 05/25/36 | 6,824,231 | ||||||
2,982,917 | Countrywide Alternative Loan Trust, Series 2006-HY12, Class A4, 0.58%, 08/25/36(e) | 2,852,422 | ||||||
9,729,706 | Countrywide Alternative Loan Trust, Series 2006-J7, Class 2A1, 2.50%, 11/20/36(e) | 4,973,747 | ||||||
9,113,919 | Countrywide Alternative Loan Trust, Series 2006-OA10, Class 2A1, 0.39%, 08/25/46(e) | 6,012,361 | ||||||
2,650,000 | Countrywide Alternative Loan Trust, Series 2006-OA16, Class A1D, 0.48%, 10/25/46(e) | 1,731,401 | ||||||
2,914,490 | Countrywide Alternative Loan Trust, Series 2006-OA19, Class A1, 0.38%, 02/20/47(e) | 1,917,860 | ||||||
3,732,728 | Countrywide Alternative Loan Trust, Series 2006-OA2, Class A5, 0.43%, 05/20/46(e) | 2,146,657 | ||||||
10,627,152 | Countrywide Alternative Loan Trust, Series 2006-OA21, Class A1, 0.39%, 03/20/47(e) | 7,977,098 | ||||||
3,861,530 | Countrywide Alternative Loan Trust, Series 2006-OA3, Class 2A1, 0.41%, 05/25/36(e) | 2,936,933 | ||||||
7,204,963 | Countrywide Alternative Loan Trust, Series 2006-OA6, Class 1A1A, 0.41%, 07/25/46(e) | 4,897,797 | ||||||
12,693,499 | Countrywide Alternative Loan Trust, Series 2006-OA7, Class 1A1, 2.03%, 06/25/46(e) | 7,891,811 | ||||||
13,581,824 | Countrywide Alternative Loan Trust, Series 2006-OA8, Class 1A1, 0.39%, 07/25/46(e) | 10,732,864 |
Principal
Amount |
Value | |||||||
COLLATERALIZED MORTGAGE OBLIGATIONS (continued) | ||||||||
$ | 14,273,237 | Countrywide Alternative Loan Trust, Series 2006-OC10, Class 2A2A, 0.38%, 11/25/36(e) | $ | 10,521,405 | ||||
12,242,326 | Countrywide Alternative Loan Trust, Series 2006-OC2, Class 2A3, 0.49%, 02/25/36(e) | 7,296,317 | ||||||
9,630,417 | Countrywide Alternative Loan Trust, Series 2006-OC8, Class 2A2A, 0.32%, 11/25/36(e) | 7,062,322 | ||||||
5,682,643 | Countrywide Alternative Loan Trust, Series 2007-12T1, Class A5, 6.00%, 06/25/37 | 4,582,842 | ||||||
2,914,030 | Countrywide Alternative Loan Trust, Series 2007-19, Class 1A34, 6.00%, 08/25/37 | 2,507,854 | ||||||
8,819,701 | Countrywide Alternative Loan Trust, Series 2007-19, Class 1A4, 6.00%, 08/25/37 | 7,454,070 | ||||||
9,629,122 | Countrywide Alternative Loan Trust, Series 2007-22, Class 2A16, 6.50%, 09/25/37 | 7,903,980 | ||||||
9,739,099 | Countrywide Alternative Loan Trust, Series 2007-23CB, Class A1, 6.00%, 09/25/37 | 8,265,620 | ||||||
2,698,872 | Countrywide Alternative Loan Trust, Series 2007-9T1, Class 1A8, 6.00%, 05/25/37 | 2,110,189 | ||||||
8,850,711 | Countrywide Alternative Loan Trust, Series 2007-HY5R, Class 2A1B, 5.14%, 03/25/47(e) | 6,917,647 | ||||||
6,772,801 | Countrywide Alternative Loan Trust, Series 2007-OA2, Class 2A1, 0.33%, 03/25/47(e) | 4,478,196 | ||||||
4,500,295 | Countrywide Alternative Loan Trust, Series 2008-1R, Class 2A3, 6.00%, 08/25/37 | 3,459,281 | ||||||
1,395,760 | Countrywide Home Loan Mortgage Pass Through Trust, Series 2005-17, Class 1A6, 5.50%, 09/25/35 | 1,331,532 | ||||||
4,351,574 | Countrywide Home Loan Mortgage Pass Through Trust, Series 2006-17, Class A6, 6.00%, 12/25/36 | 4,044,510 | ||||||
15,311,350 | Countrywide Home Loan Mortgage Pass Through Trust, Series 2006-OA4, Class A1, 1.14%, 04/25/46(e) | 7,462,375 | ||||||
1,297,099 | Countrywide Home Loan Mortgage Pass Through Trust, Series 2007-15, Class 1A29, 6.25%, 09/25/37 | 1,264,768 | ||||||
380,512 | Countrywide Home Loan Mortgage Pass-Through Trust, Series 2005-15, Class A1, 5.50%, 08/25/35 | 372,477 |
36 |
|
Old Westbury Funds, Inc. | |
Global Opportunities Fund | |
Portfolio of Investments - (Continued) | April 30, 2013 |
(Unaudited) |
Principal
Amount |
Value | |||||||
COLLATERALIZED MORTGAGE OBLIGATIONS (continued) | ||||||||
$ | 872,150 | Countrywide Home Loan Mortgage Pass-Through Trust, Series 2005-21, Class 2A2, 5.50%, 10/25/35 | $ | 860,151 | ||||
6,689,718 | Countrywide Home Loan Mortgage Pass-Through Trust, Series 2005-31, Class 2A3, 2.79%, 01/25/36(e) | 5,201,072 | ||||||
2,522,638 | Countrywide Home Loan Mortgage Pass-Through Trust, Series 2005-J3, Class 2A4, 4.50%, 09/25/35 | 2,423,857 | ||||||
8,065,273 | Countrywide Home Loan Mortgage Pass-Through Trust, Series 2006-18, Class 2A7, 6.00%, 12/25/36 | 7,249,063 | ||||||
7,896,351 | Countrywide Home Loan Mortgage Pass-Through Trust, Series 2006-9, Class A2, 6.00%, 05/25/36 | 6,920,119 | ||||||
6,216,866 | Countrywide Home Loan Mortgage Pass-Through Trust, Series 2006-HYB1, Class 2A1, 2.65%, 03/20/36(e) | 5,145,410 | ||||||
1,306,242 | Countrywide Home Loan Mortgage Pass-Through Trust, Series 2006-J2, Class 1A1, 6.00%, 04/25/36 | 1,162,350 | ||||||
1,317,605 | Countrywide Home Loan Mortgage Pass-Through Trust, Series 2006-J4, Class A9, 6.25%, 09/25/36 | 1,129,313 | ||||||
740,853 | Countrywide Home Loan Mortgage Pass-Through Trust, Series 2006-OA5, Class 3A1, 0.40%, 04/25/46(e) | 582,611 | ||||||
3,423,426 | Countrywide Home Loan Mortgage Pass-Through Trust, Series 2006-R2, Class AF1, 0.62%, 07/25/36(e)(f) | 3,056,205 | ||||||
3,232,467 | Countrywide Home Loan Mortgage Pass-Through Trust, Series 2007-2, Class A16, 6.00%, 03/25/37 | 2,955,733 | ||||||
8,652,960 | Countrywide Home Loan Mortgage Pass-Through Trust, Series 2007-21, Class 1A1, 6.25%, 02/25/38 | 7,932,686 | ||||||
7,006,940 | Countrywide Home Loan Mortgage Pass-Through Trust, Series 2007-HY1, Class 1A1, 2.92%, 04/25/37(e) | 5,724,097 | ||||||
1,747,050 | Countrywide Home Loan Mortgage Pass-Through Trust, Series 2007-J3, Class A1, 0.70%, 07/25/37(e) | 1,054,845 |
Principal
Amount |
Value | |||||||
COLLATERALIZED MORTGAGE OBLIGATIONS (continued) | ||||||||
$ | 7,523,589 | Countrywide Home Loan Mortgage Pass-Through Trust, Series 2005-HYB9, Class 2A1, 2.81%, 02/20/36(e) | $ | 6,323,032 | ||||
1,469,123 | Credit Suisse Mortgage Capital Certificates, Series 2006-8, Class 1A1, 4.50%, 10/25/21 | 1,318,108 | ||||||
5,742,134 | Credit Suisse Mortgage Capital Certificates, Series 2006-9, Class 3A1, 6.00%, 11/25/36 | 5,827,232 | ||||||
7,852,602 | Credit Suisse Mortgage Capital Certificates, Series 2007-3, Class 2A10, 6.00%, 04/25/37 | 6,928,918 | ||||||
1,161,982 | Credit Suisse Mortgage Capital Certificates, Series 2010-20R, Class 9A1, 2.99%, 01/27/36(e)(f) | 1,111,453 | ||||||
3,374,262 | Credit Suisse Mortgage Capital Certificates, Series 2011-2R, Class 2A1, 2.63%, 07/25/36(e)(f) | 3,288,779 | ||||||
4,120,267 | Credit Suisse Mortgage Capital Certificates, Series 2011-4R, Class 5A1, 4.13%, 05/27/36(e)(f) | 3,966,099 | ||||||
3,232,092 | Credit Suisse Mortgage Capital Certificates, Series 2011-4R, Class 6A1, 2.95%, 05/27/36(e)(f) | 3,146,276 | ||||||
1,323,097 | Credit Suisse Mortgage Capital Certificates, Series 2011-5R, Class 1A1, 2.94%, 07/25/36(e)(f) | 1,285,293 | ||||||
3,532,311 | Credit Suisse Mortgage Capital Certificates, Series 2011-5R, Class 2A1, 2.82%, 08/25/46(e)(f) | 3,325,059 | ||||||
2,174,657 | Credit Suisse Mortgage Capital Certificates, Series 2011-5R, Class 3A1, 5.42%, 09/20/37(e)(f) | 2,136,230 | ||||||
4,375,361 | Credit Suisse Mortgage Capital Certificates, Series 2011-6R, Class 5A1, 2.92%, 09/28/36(e)(f) | 4,291,581 | ||||||
4,331,320 | Credit Suisse Mortgage Capital Certificates, Series 2011-6R, Class 6A1, 2.92%, 08/28/36(e)(f) | 4,247,808 | ||||||
1,910,305 | Deutsche ALT-A Securities, Inc., Alternate Loan Trust, Series 2005-3, Class 4A4, 5.25%, 06/25/35 | 1,910,605 | ||||||
6,291,623 | Deutsche ALT-A Securities, Inc., Alternate Loan Trust, Series 2007-1, Class 1A3B, 0.34%, 08/25/37(e) | 4,891,677 | ||||||
4,329,283 | Deutsche ALT-A Securities, Inc., Alternate Loan Trust, Series 2007-QA4, Class 1A1A, 0.39%, 08/25/47(e) | 3,487,660 | ||||||
12,301,411 | Deutsche ALT-A Securities, Inc., Alternate Loan Trust, Series 2007-RMP1, Class A2, 0.35%, 12/25/36(e) | 9,085,046 |
37 |
|
Old Westbury Funds, Inc. | |
Global Opportunities Fund | |
Portfolio of Investments - (Continued) | April 30, 2013 |
(Unaudited) |
Principal
Amount |
Value | |||||||
COLLATERALIZED MORTGAGE OBLIGATIONS (continued) | ||||||||
$ | 2,270,194 | First Horizon Alternative Mortgage Securities, Series 2005-AA7, Class 2A1, 2.36%, 09/25/35(e) | $ | 1,952,180 | ||||
7,243,677 | First Horizon Alternative Mortgage Securities, Series 2006-AA6, Class 2A1, 2.29%, 11/25/36(e) | 5,330,479 | ||||||
7,550,644 | First Horizon Alternative Mortgage Securities, Series 2006-FA3, Class A9, 6.00%, 07/25/36 | 6,974,123 | ||||||
4,000,000 | FREMF Mortgage Trust, Series 2012-K708, Class C, 3.76%, 02/25/45(e)(f) | 4,039,990 | ||||||
5,000,000 | FREMF Mortgage Trust, Series 2012-K709, Class C, 3.74%, 04/01/45(e)(f) | 5,035,210 | ||||||
1,798,437 | GMAC Mortgage Corp. Loan Trust, Series 2005-AR6, Class 2A1, 3.81%, 11/19/35(e) | 1,577,924 | ||||||
3,144,280 | GMAC Mortgage Corp. Loan Trust, Series 2005-AR6, Class 4A1, 5.48%, 11/19/35(e) | 3,155,457 | ||||||
3,704,836 | GMAC Mortgage Corp. Loan Trust, Series 2006-AR1, Class 2A1, 3.51%, 04/19/36(e) | 3,212,305 | ||||||
5,144,722 | Greenpoint Mortgage Funding Trust, Series 2007-AR1, Class 3A2, 0.36%, 02/25/37(e) | 3,516,982 | ||||||
4,041,227 | GSMPS Mortgage Loan Trust, Series 2005-RP1, Class 1AF, 0.55%, 01/25/35(e)(f) | 3,566,199 | ||||||
3,426,735 | GSMPS Mortgage Loan Trust, Series 2006-RP1, Class 1AF1, 0.55%, 01/25/36(e)(f) | 2,905,810 | ||||||
1,967,033 | GSR Mortgage Loan Trust, Series 2005-AR1, Class 2A1, 2.97%, 01/25/35(e) | 1,970,563 | ||||||
3,100,968 | GSR Mortgage Loan Trust, Series 2005-AR3, Class 5A1, 2.88%, 05/25/35(e) | 2,830,254 | ||||||
2,144,696 | GSR Mortgage Loan Trust, Series 2005-AR5, Class 2A4, 2.93%, 10/25/35(e) | 2,052,094 | ||||||
1,476,497 | GSR Mortgage Loan Trust, Series 2006-4F, Class 1A1, 5.00%, 05/25/36 | 1,355,088 | ||||||
2,315,384 | GSR Mortgage Loan Trust, Series 2006-9F, Class 9A1, 6.00%, 08/25/21 | 2,272,124 | ||||||
4,998,199 | GSR Mortgage Loan Trust, Series 2006-AR1, Class 2A4, 2.78%, 01/25/36(e) | 4,341,705 | ||||||
3,116,850 | GSR Mortgage Loan Trust, Series 2006-AR1, Class 3A1, 3.19%, 01/25/36(e) | 2,695,735 |
Principal
Amount |
Value | |||||||
COLLATERALIZED MORTGAGE OBLIGATIONS (continued) | ||||||||
$ | 3,787,833 | GSR Mortgage Loan Trust, Series 2007-4F, Class 3A1, 6.00%, 07/25/37 | $ | 3,589,649 | ||||
7,625,196 | Harborview Mortgage Loan Trust, Series 2006-6, Class 3A1A, 2.78%, 08/19/36(e) | 5,284,227 | ||||||
2,948,519 | Homebanc Mortgage Trust, Series 2005-1, Class A1, 0.45%, 03/25/35(e) | 2,523,970 | ||||||
6,225,687 | Homebanc Mortgage Trust, Series 2005-4, Class A1, 0.47%, 10/25/35(e) | 5,441,665 | ||||||
2,867,940 | Homebanc Mortgage Trust, Series 2006-1, Class 2A1, 2.46%, 04/25/37(e) | 1,946,791 | ||||||
3,832,492 | Homebanc Mortgage Trust, Series 2006-1, Class A1, 0.38%, 12/25/36(e) | 3,286,186 | ||||||
2,743,327 | Homebanc Mortgage Trust, Series 2007-1, Class 13A1, 5.75%, 04/25/47(e) | 2,122,863 | ||||||
2,964,718 | Indymac INDA Mortgage Loan Trust, Series 2006-AR2, Class 4A1, 5.39%, 09/25/36(e) | 2,447,124 | ||||||
48,760 | Indymac INDA Mortgage Loan Trust, Series 2007-AR7, Class 1A1, 3.22%, 11/25/37(e) | 45,049 | ||||||
5,550,004 | Indymac Index Mortgage Loan Trust, Series 2006-AR11, Class 4A1, 2.88%, 06/25/36(e) | 4,028,383 | ||||||
5,800,382 | Indymac Index Mortgage Loan Trust, Series 2006-AR12, Class A1, 0.39%, 09/25/46(e) | 4,507,025 | ||||||
6,161,479 | Indymac Index Mortgage Loan Trust, Series 2006-AR3, Class 3A1A, 2.81%, 04/25/36(e) | 4,211,592 | ||||||
6,613,126 | Indymac Index Mortgage Loan Trust, Series 2006-AR33, Class 2A21, 3.25%, 01/25/37(e) | 5,243,589 | ||||||
13,113,336 | Indymac Index Mortgage Loan Trust, Series 2007-FLX3, Class A1, 0.44%, 06/25/37(e) | 11,411,528 | ||||||
2,977,882 | JPMorgan Alternative Loan Trust, Series 2007-A1, Class 1A1B, 0.26%, 03/25/37(e) | 2,647,348 | ||||||
9,750,780 | JPMorgan Alternative Loan Trust, Series 2007-A1, Class 1A3A, 0.35%, 03/25/37(e) | 7,408,447 | ||||||
9,123,597 | JPMorgan Mortgage Trust, Series 2007-A5, Class 2A1, 1.49%, 10/25/37(e) | 6,391,952 | ||||||
1,254,680 | JPMorgan Mortgage Trust, Series 2007-S2, Class 2A3, 5.50%, 06/25/37 | 1,208,159 |
38 |
|
Old Westbury Funds, Inc. | |
Global Opportunities Fund | |
Portfolio of Investments - (Continued) | April 30, 2013 |
(Unaudited) |
Principal
Amount |
Value | |||||||
COLLATERALIZED MORTGAGE OBLIGATIONS (continued) | ||||||||
$ | 2,503,167 | Mastr Adjustable Rate Mortgages Trust, Series 2005-6, Class 5A2, 2.56%, 07/25/35(e) | $ | 2,143,088 | ||||
3,071,109 | Mastr Reperforming Loan Trust, Series 2005-2, Class 1A1F, 0.55%, 05/25/35(e)(f) | 2,693,631 | ||||||
2,764,698 | Merrill Lynch Mortgage Investors, Inc., Series 2006-AF2, Class AF1, 6.25%, 10/25/36 | 2,421,022 | ||||||
2,195,141 | Morgan Stanley Mortgage Loan Trust, Series 2006-2, Class 2A1, 1.10%, 02/25/36(e) | 1,834,040 | ||||||
16,214,885 | Morgan Stanley Re-REMIC Trust, Series 2010-R5, Class 5B, 0.47%, 01/26/37(c)(e)(f) | 9,280,333 | ||||||
15,594,335 | Morgan Stanley Re-REMIC Trust, Series 2010-R5, Class 7B, 0.43%, 05/26/37(e)(f) | 9,041,679 | ||||||
8,373,310 | Prime Mortgage Trust, Series 2006-DR1, Class 2A1, 5.50%, 05/25/35(f) | 8,387,372 | ||||||
3,532,475 | Prime Mortgage Trust, Series 2006-DR1, Class 2A2, 6.00%, 05/25/35(f) | 3,589,329 | ||||||
6,803,567 | Residential Accredit Loans, Inc., Series 2006-QO6, Class A2, 0.43%, 06/25/46(e) | 3,442,879 | ||||||
5,770,075 | Residential Accredit Loans, Inc., Series 2006-QS12, Class 2A4, 6.00%, 09/25/36 | 4,907,178 | ||||||
2,808,688 | Residential Accredit Loans, Inc., Series 2006-QS15, Class A1, 6.50%, 10/25/36 | 2,247,291 | ||||||
2,304,725 | Residential Accredit Loans, Inc., Series 2007-QS6, Class A1, 0.53%, 04/25/37(e) | 1,445,668 | ||||||
3,426,724 | Residential Asset Securitization Trust, Series 2006-A8, Class 2A3, 6.00%, 08/25/36 | 2,392,589 | ||||||
941,823 | Residential Funding Mortgage Securities I, Series 2005-S8, Class A1, 5.50%, 11/25/35 | 935,504 | ||||||
3,162,210 | Residential Funding Mortgage Securities I, Series 2005-SA5, Class 2A, 3.35%, 11/25/35(e) | 2,661,286 | ||||||
554,286 | Residential Funding Mortgage Securities I, Series 2006-S11, Class A2, 6.00%, 11/25/36 | 527,245 | ||||||
10,005,902 | Residential Funding Mortgage Securities I, Series 2006-SA2, Class 2A1, 3.78%, 08/25/36(e) | 7,850,639 | ||||||
1,789,772 | Residential Funding Mortgage Securities I, Series 2007-S4, Class A2, 6.00%, 04/25/37 | 1,578,705 |
Principal
Amount |
Value | |||||||
COLLATERALIZED MORTGAGE OBLIGATIONS (continued) | ||||||||
$ | 7,936,779 | Residential Funding Mortgage Securities I, Series 2007-S7, Class A20, 6.00%, 07/25/37 | $ | 7,825,219 | ||||
4,000,000 | Sequoia Mortgage Trust, Series 2013-5, Class A2, 3.00%, 05/25/43(e)(f) | 4,060,640 | ||||||
5,306,755 | Structured Adjustable Rate Mortgage Loan Trust, Series 2005-11, Class 1A1, 2.59%, 05/25/35(e) | 4,681,589 | ||||||
8,360,916 | Structured Adjustable Rate Mortgage Loan Trust, Series 2005-17, Class 5A1, 4.85%, 08/25/35(e) | 7,473,572 | ||||||
5,372,768 | Structured Adjustable Rate Mortgage Loan Trust, Series 2005-19XS, Class 1A1, 0.52%, 10/25/35(e) | 4,589,210 | ||||||
9,816,144 | Structured Adjustable Rate Mortgage Loan Trust, Series 2006-1, Class 8A1, 5.50%, 02/25/36(e) | 8,403,050 | ||||||
5,738,948 | Structured Adjustable Rate Mortgage Loan Trust, Series 2006-9, Class 1A1, 4.51%, 10/25/36(e) | 4,177,082 | ||||||
10,930,863 | Structured Adjustable Rate Mortgage Loan Trust, Series 2006-9, Class 3A1, 4.95%, 10/25/36(e) | 8,900,299 | ||||||
4,593,341 | Structured Adjustable Rate Mortgage Loan Trust, Series 2007-4, Class 1A2, 0.42%, 05/25/37(e) | 3,067,174 | ||||||
6,168,274 | Structured Asset Mortgage Investments, Inc., Series 2006-AR5, Class 4A1, 0.42%, 05/25/46(e) | 3,476,695 | ||||||
8,897,138 | Structured Asset Securities Corp, Series 2005-RF3, Class 1A, 0.55%, 06/25/35(e)(f) | 7,473,635 | ||||||
13,044,759 | Structured Asset Securities Corp., Series 2005-RF2, Class A, 0.55%, 04/25/35(e)(f) | 11,406,003 | ||||||
1,176,353 | Suntrust Adjustable Rate Mortgage Loan Trust, Series 2007-1, Class 2A1, 5.82%, 02/25/37(e) | 943,114 | ||||||
4,844,815 | Suntrust Adjustable Rate Mortgage Loan Trust, Series 2007-2, Class 3A3, 5.45%, 04/25/37(e) | 4,300,728 | ||||||
1,579,153 | Suntrust Adjustable Rate Mortgage Loan Trust, Series 2007-2, Class 4A1, 5.48%, 04/25/37(e) | 1,197,473 | ||||||
313,700 | WaMu Mortgage Pass-Through Certificates, Series 2005-AR16, Class 1A1, 2.49%, 12/25/35(e) | 296,252 | ||||||
9,444,633 | WaMu Mortgage Pass-Through Certificates, Series 2006-AR10, Class 1A1, 2.66%, 09/25/36(e) | 7,831,240 | ||||||
1,100,638 | WaMu Mortgage Pass-Through Certificates, Series 2006-AR8, Class 1A1, 2.67%, 08/25/46(e) | 948,144 |
39 |
|
Old Westbury Funds, Inc. | |
Global Opportunities Fund | |
Portfolio of Investments - (Continued) | April 30, 2013 |
(Unaudited) |
Principal
Amount |
Value | |||||||
COLLATERALIZED MORTGAGE OBLIGATIONS (continued) | ||||||||
$ | 3,353,680 | WaMu Mortgage Pass-Through Certificates, Series 2007-HY7, Class 2A2, 2.53%, 07/25/37(e) | $ | 2,651,909 | ||||
6,640,562 | WaMu Mortgage Pass-Through Certificates, Series 2007-OA4, Class 1A, 0.95%, 05/25/47(e) | 5,851,599 | ||||||
3,503,924 | Washington Mutual Alternative Mortgage Pass-Through Certificates, Series 2005-10, Class 2A6, 5.50%, 11/25/35 | 2,971,416 | ||||||
7,797,384 | Washington Mutual Alternative Mortgage Pass-Through Certificates, Series 2006-2, Class 4CB, 6.00%, 03/25/36 | 6,293,902 | ||||||
6,370,214 | Washington Mutual Alternative Mortgage Pass-Through Certificates, Series 2006-5, Class 3A3, STEP, 6.22%, 07/25/36 | 3,843,214 | ||||||
1,505,531 | Wells Fargo Mortgage Backed Securities Trust, Series 2006-AR10, Class 3A1, 2.63%, 07/25/36(e) | 1,493,476 | ||||||
2,710,316 | Wells Fargo Mortgage Backed Securities Trust, Series 2006-AR10, Class 5A3, 2.61%, 07/25/36(e) | 2,448,227 | ||||||
2,035,681 | Wells Fargo Mortgage Backed Securities Trust, Series 2006-AR13, Class A2, 2.61%, 09/25/36(e) | 1,827,074 | ||||||
2,021,291 | Wells Fargo Mortgage Backed Securities Trust, Series 2006-AR19, Class A1, 5.41%, 12/25/36(e) | 2,056,749 | ||||||
2,026,570 | Wells Fargo Mortgage Backed Securities Trust, Series 2006-AR8, Class 2A3, 2.72%, 04/25/36(e) | 1,875,893 | ||||||
1,619,499 | Wells Fargo Mortgage Backed Securities Trust, Series 2007-4, Class A4, 6.00%, 04/27/37 | 1,571,872 | ||||||
1,940,096 | Wells Fargo Mortgage Backed Securities Trust, Series 2007-6, Class A6, 6.00%, 05/25/37 | 1,875,073 | ||||||
1,363,865 | Wells Fargo Mortgage Backed Securities Trust, Series 2007-8, Class 1A16, 6.00%, 07/25/37 | 1,329,722 | ||||||
1,371,421 | Wells Fargo Mortgage Backed Securities Trust, Series 2007-AR8, Class A1, 5.99%, 11/25/37(e) | 1,233,482 | ||||||
884,639,567 | ||||||||
COMMERCIAL MORTGAGE-BACKED SECURITIES — 1.5% | ||||||||
6,000,000 | Banc of America Merrill Lynch Commercial Mortgage, Inc., Series 2007-2, Class AM, 5.81%, 04/10/49(e) | 6,757,302 |
Principal
Amount |
Value | |||||||
COMMERCIAL MORTGAGE-BACKED SECURITIES (continued) | ||||||||
$ | 10,000,000 | Bear Stearns Commercial Mortgage Securities, Series 2007-PW16, Class AM, 5.91%, 06/11/40(e) | $ | 11,672,251 | ||||
4,587,000 | Citigroup Commercial Mortgage Trust, Series 2008-C7, Class AM, 6.34%, 12/10/49(e) | 5,307,742 | ||||||
1,000,000 | Commercial Mortgage Pass Through Certificates, Series 2013-LC6, Class D, 4.43%, 01/10/23(e)(f) | 973,083 | ||||||
9,000,000 | Greenwich Capital Commercial Funding Corp., Series 2005-GG5, Class AM, 5.31%, 04/10/37(e) | 9,667,921 | ||||||
2,750,000 | GS Mortgage Securities Corp. II, Series 2005-GG4, Class AJ, 4.78%, 07/10/39 | 2,851,780 | ||||||
2,000,000 | GS Mortgage Securities Corp. II, Series 2006-GC6, Class AM, 5.62%, 04/10/38(e) | 2,215,961 | ||||||
2,000,000 | GS Mortgage Securities Corp. II, Series 2006-GG8, Class AJ, 5.62%, 11/10/39 | 2,000,955 | ||||||
1,000,000 | JP Morgan Chase Commercial Mortgage Securities Trust, Series 2007-CB20, Class B, 6.38%, 02/12/51(e)(f) | 932,142 | ||||||
5,000,000 | JPMorgan Chase Commercial Mortgage Securities Trust, Series 2006-CB14, Class AM, 5.63%, 12/12/44(e) | 5,418,921 | ||||||
5,380,000 | JPMorgan Chase Commercial Mortgage Securities Trust, Series 2007-CB20, Class AJ, 6.28%, 02/12/51(e) | 5,642,571 | ||||||
2,080,000 | LB-UBS Commercial Mortgage Trust, Series 2005-C2, Class AJ, 5.21%, 04/15/30(e) | 2,201,578 | ||||||
5,000,000 | LB-UBS Commercial Mortgage Trust, Series 2006-C4, Class AJ, 6.08%, 06/15/38(e) | 5,163,198 | ||||||
7,000,000 | LB-UBS Commercial Mortgage Trust, Series 2006-C7, Class AM, 5.38%, 11/15/38 | 7,852,212 | ||||||
5,000,000 | LB-UBS Commercial Mortgage Trust, Series 2007-C1, Class AM, 5.46%, 02/15/40 | 5,695,506 | ||||||
8,669,000 | LB-UBS Commercial Mortgage Trust, Series 2007-C6, Class AMFL, 6.11%, 07/15/40(f) | 9,206,716 | ||||||
5,000,000 | Morgan Stanley Capital I Trust, Series 2007-HQ12, Class AM, 5.76%, 04/12/49(e) | 5,513,980 | ||||||
8,290,000 | Morgan Stanley Capital I Trust, Series 2007-IQ15, Class AM, 6.09%, 06/11/49(e) | 9,371,082 |
40 |
|
Old Westbury Funds, Inc. | |
Global Opportunities Fund | |
Portfolio of Investments - (Continued) | April 30, 2013 |
(Unaudited) |
TOTAL INVESTMENTS — 99.9%
(Cost $6,601,522,386)(a) |
$ | 6,952,231,107 | ||||||
OTHER ASSETS IN EXCESS OF LIABILITIES — 0.1% | 8,393,968 | |||||||
NET ASSETS — 100.0% | $ | 6,960,625,075 | ||||||
Principal
Amount |
||||||||
SECURITIES SOLD SHORT — (0.1)% | ||||||||
$ | (5,000,000 | ) | Fannie Mae Mortgage-Backed Securities | $ | (5,229,688 | ) | ||
Total Securities Sold Short
(Proceeds received $(5,204,141)) |
$ | (5,229,688 | ) | |||||
Contracts | Value | |||||||
CALL OPTIONS WRITTEN — (2.1)% | ||||||||
(1,000 | ) | American Capital Agency Corp., Strike $32.00, Expires 01/18/14 | (178,000 | ) | ||||
(3,000 | ) | American International Group, Inc., Strike $33.00, Expires 01/17/15 | (3,375,000 | ) | ||||
(1,000 | ) | American International Group, Inc., Strike $35.00, Expires 01/17/15 | (1,000,000 | ) | ||||
(904 | ) | American International Group, Inc., Strike $36.00, Expires 05/18/13 | (497,200 | ) | ||||
(1,500 | ) | American International Group, Inc., Strike $37.00, Expires 08/17/13 | (802,500 | ) | ||||
(1,000 | ) | American International Group, Inc., Strike $38.00, Expires 08/17/13 | (460,000 | ) | ||||
(1,000 | ) | American International Group, Inc., Strike $39.00, Expires 06/22/13 | (320,000 | ) | ||||
(1,000 | ) | American International Group, Inc., Strike $40.00, Expires 11/16/13 | (410,000 | ) | ||||
(1,000 | ) | American International Group, Inc., Strike $45.00, Expires 01/17/15 | (510,000 | ) | ||||
(200 | ) | Apple, Inc., Strike $360.00, Expires 01/18/14 | (1,772,000 | ) | ||||
(75 | ) | Apple, Inc., Strike $370.00, Expires 01/18/14 | (606,375 | ) | ||||
(100 | ) | Apple, Inc., Strike $400.00, Expires 01/18/14 | (599,000 | ) | ||||
(100 | ) | Apple, Inc., Strike $410.00, Expires 01/18/14 | (538,000 | ) | ||||
(200 | ) | Apple, Inc., Strike $420.00, Expires 01/18/14 | (980,000 | ) | ||||
(265 | ) | Apple, Inc., Strike $450.00, Expires 01/17/15 | (1,502,550 | ) | ||||
(100 | ) | Apple, Inc., Strike $450.00, Expires 01/18/14 | (338,500 | ) | ||||
(100 | ) | Apple, Inc., Strike $480.00, Expires 01/18/14 | (232,000 | ) |
41 |
|
Old Westbury Funds, Inc. | |
Global Opportunities Fund | |
Portfolio of Investments - (Continued) | April 30, 2013 |
(Unaudited) |
Contracts | Value | |||||||
(4,625 | ) | Applied Materials, Inc., Strike $10.00, Expires 01/18/14 | $ | (2,104,375 | ) | |||
(6,403 | ) | Applied Materials, Inc., Strike $12.00, Expires 01/18/14 | (1,754,422 | ) | ||||
(2,000 | ) | Avago Technologies Ltd., Strike $30.00, Expires 07/20/13 | (600,000 | ) | ||||
(2,000 | ) | Avago Technologies Ltd., Strike $30.00, Expires 10/19/13 | (780,000 | ) | ||||
(1,500 | ) | Avago Technologies Ltd., Strike $32.50, Expires 07/20/13 | (247,500 | ) | ||||
(5,000 | ) | Bank of America Corp., Strike $10.00, Expires 01/17/15 | (1,625,000 | ) | ||||
(17,000 | ) | Bank of America Corp., Strike $10.00, Expires 01/18/14 | (4,539,000 | ) | ||||
(3,500 | ) | Bank of America Corp., Strike $11.00, Expires 11/16/13 | (619,500 | ) | ||||
(4,000 | ) | Bank of America Corp., Strike $12.00, Expires 08/17/13 | (348,000 | ) | ||||
(2,500 | ) | Bill Barrett Corp., Strike $17.50, Expires 09/21/13 | (975,000 | ) | ||||
(71 | ) | CF Industries Holdings, Inc., Strike $190.00, Expires 01/18/14 | (115,375 | ) | ||||
(100 | ) | CF Industries Holdings, Inc., Strike $190.00, Expires 08/17/13 | (95,500 | ) | ||||
(100 | ) | CF Industries Holdings, Inc., Strike $195.00, Expires 08/17/13 | (74,500 | ) | ||||
(129 | ) | CF Industries Holdings, Inc., Strike $210.00, Expires 01/18/14 | (114,810 | ) | ||||
(150 | ) | CF Industries Holdings, Inc., Strike $215.00, Expires 01/18/14 | (113,250 | ) | ||||
(1,351 | ) | Cisco Systems, Inc., Strike $15.00, Expires 01/18/14 | (817,355 | ) | ||||
(1,485 | ) | Cisco Systems, Inc., Strike $17.00, Expires 01/17/15 | (697,950 | ) | ||||
(1,500 | ) | Citigroup, Inc., Strike $30.00, Expires 01/18/14 | (2,580,000 | ) | ||||
(1,000 | ) | Coach, Inc., Strike $45.00, Expires 01/18/14 | (1,470,000 | ) | ||||
(250 | ) | Coach, Inc., Strike $50.00, Expires 01/18/14 | (267,500 | ) | ||||
(4,000 | ) | Corning, Inc., Strike $10.00, Expires 01/17/15 | (1,880,000 | ) | ||||
(2,650 | ) | Dell, Inc., Strike $10.00, Expires 01/18/14 | (940,750 | ) | ||||
(4,965 | ) | Dell, Inc., Strike $13.00, Expires 08/17/13 | (347,550 | ) | ||||
(145 | ) | Dell, Inc., Strike $8.00, Expires 01/18/14 | (81,200 | ) | ||||
(1,000 | ) | Dollar General Corp., Strike $43.00, Expires 08/17/13 | (990,000 | ) | ||||
(1,250 | ) | Dollar General Corp., Strike $45.00, Expires 01/18/14 | (1,150,000 | ) | ||||
(3,000 | ) | Exelis, Inc., Strike $10.00, Expires 07/20/13 | (390,000 | ) |
Contracts | Value | |||||||
(15 | ) | Exelon Corp., Strike $28.00, Expires 07/20/13 | $ | (14,400 | ) | |||
(1,250 | ) | Family Dollar Stores, Inc., Strike $55.00, Expires 01/18/14 | (1,100,000 | ) | ||||
(1,973 | ) | Freeport-McMoRan Copper & Gold, Inc., Strike $25.00, Expires 01/18/14 | (1,282,450 | ) | ||||
(3,500 | ) | Freeport-McMoRan Copper & Gold, Inc., Strike $28.00, Expires 01/18/14 | (1,575,000 | ) | ||||
(10 | ) | GameStop Corp., Strike $13.00, Expires 01/18/14 | (22,050 | ) | ||||
(17 | ) | GameStop Corp., Strike $15.00, Expires 01/18/14 | (34,085 | ) | ||||
(11 | ) | Hewlett-Packard Co., Strike $10.00, Expires 01/18/14 | (11,715 | ) | ||||
(7,220 | ) | Hewlett-Packard Co., Strike $13.00, Expires 01/18/14 | (5,595,500 | ) | ||||
(1,627 | ) | Hewlett-Packard Co., Strike $15.00, Expires 01/18/14 | (968,065 | ) | ||||
(1,000 | ) | HollyFrontier Corp., Strike $48.00, Expires 01/18/14 | (660,000 | ) | ||||
(4,250 | ) | Intel Corp., Strike $20.00, Expires 01/18/14 | (1,763,750 | ) | ||||
(1,648 | ) | iShares FTSE China 25 Index Fund, Strike $35.00, Expires 01/18/14 | (634,480 | ) | ||||
(1,000 | ) | iShares FTSE China 25 Index Fund, Strike $36.00, Expires 08/17/13 | (244,000 | ) | ||||
(1,000 | ) | iShares MSCI EAFE Index Fund, Strike $47.00, Expires 01/18/14 | (1,515,000 | ) | ||||
(558 | ) | iShares MSCI Emerging Markets Index Fund, Strike $30.00, Expires 06/22/13 | (831,420 | ) | ||||
(1,250 | ) | iShares MSCI Emerging Markets Index Fund, Strike $31.00, Expires 06/22/13 | (1,737,500 | ) | ||||
(2,941 | ) | iShares MSCI Germany Index Fund, Strike $21.00, Expires 01/18/14 | (1,382,270 | ) | ||||
(715 | ) | iShares MSCI Germany Index Fund, Strike $22.00, Expires 01/18/14 | (278,850 | ) | ||||
(1,000 | ) | iShares MSCI South Korea Index Fund, Strike $52.00, Expires 10/19/13 | (750,000 | ) | ||||
(1,500 | ) | Kohl’s Corp., Strike $40.00, Expires 01/18/14 | (1,215,000 | ) | ||||
(7,000 | ) | Kulicke & Soffa Industries, Inc., Strike $10.00, Expires 10/19/13 | (1,435,000 | ) | ||||
(1,055 | ) | Lexmark International, Inc., Strike $18.00, Expires 01/18/14 | (1,318,750 | ) | ||||
(5,000 | ) | MGM Resorts International, Strike $10.00, Expires 01/18/14 | (2,225,000 | ) |
42 |
|
Old Westbury Funds, Inc. | |
Global Opportunities Fund | |
Portfolio of Investments - (Continued) | April 30, 2013 |
(Unaudited) |
Contracts | Value | |||||||
(6,255 | ) | MGM Resorts International, Strike $11.00, Expires 06/22/13 | $ | (2,001,600 | ) | |||
(5,250 | ) | Microsoft Corp., Strike $25.00, Expires 01/18/14 | (4,278,750 | ) | ||||
(3,235 | ) | Morgan Stanley, Strike $17.00, Expires 01/18/14 | (1,876,300 | ) | ||||
(1,500 | ) | Morgan Stanley, Strike $20.00, Expires 01/18/14 | (525,000 | ) | ||||
(2,500 | ) | Mosaic Co. (The), Strike $47.50, Expires 01/18/14 | (3,850,000 | ) | ||||
(1,000 | ) | Myriad Genetics, Inc., Strike $18.00, Expires 08/17/13 | (1,020,000 | ) | ||||
(2,500 | ) | Myriad Genetics, Inc., Strike $20.00, Expires 08/17/13 | (2,125,000 | ) | ||||
(4,000 | ) | Nabors Industries Ltd., Strike $13.00, Expires 01/18/14 | (1,188,000 | ) | ||||
(1,500 | ) | NetApp, Inc., Strike $22.00, Expires 06/22/13 | (2,032,500 | ) | ||||
(2,000 | ) | NetApp, Inc., Strike $25.00, Expires 01/18/14 | (2,130,000 | ) | ||||
(2,347 | ) | NetApp, Inc., Strike $30.00, Expires 01/18/14 | (1,572,490 | ) | ||||
(5,500 | ) | NetApp, Inc., Strike $30.00, Expires 06/22/13 | (3,080,000 | ) | ||||
(3,550 | ) | Newmont Mining Corp., Strike $30.00, Expires 01/18/14 | (1,597,500 | ) | ||||
(1,000 | ) | Nu Skin Enterprises, Inc., Strike $35.00, Expires 01/17/15 | (1,960,000 | ) | ||||
(7,916 | ) | NVIDIA Corp., Strike $10.00, Expires 01/17/15 | (3,364,300 | ) | ||||
(10,224 | ) | NVIDIA Corp., Strike $10.00, Expires 01/18/14 | (3,987,360 | ) | ||||
(5,000 | ) | NVIDIA Corp., Strike $11.00, Expires 09/21/13 | (1,435,000 | ) | ||||
(1,500 | ) | Occidental Petroleum Corp., Strike $67.50, Expires 01/18/14 | (3,367,500 | ) | ||||
(75 | ) | Occidental Petroleum Corp., Strike $75.00, Expires 01/18/14 | (120,375 | ) | ||||
(500 | ) | Occidental Petroleum Corp., Strike $77.50, Expires 01/18/14 | (705,000 | ) | ||||
(500 | ) | Occidental Petroleum Corp., Strike $80.00, Expires 01/18/14 | (615,000 | ) | ||||
(1,000 | ) | QUALCOMM, Inc., Strike $55.00, Expires 01/18/14 | (850,000 | ) | ||||
(1,861 | ) | Questcor Pharmaceuticals, Inc., Strike $20.00, Expires 01/18/14 | (2,307,640 | ) | ||||
(1,000 | ) | Questcor Pharmaceuticals, Inc., Strike $24.00, Expires 07/20/13 | (820,000 | ) | ||||
(139 | ) | Questcor Pharmaceuticals, Inc., Strike $25.00, Expires 01/18/14 | (122,320 | ) | ||||
(1,500 | ) | Seagate Technology Plc, Strike $18.00, Expires 01/17/15 | (2,835,000 | ) |
43 |
|
Old Westbury Funds, Inc. | |
Global Opportunities Fund | |
Portfolio of Investments - (Continued) | April 30, 2013 |
(Unaudited) |
Contracts | Value | |||||||
50,000 | Basket 50% UKX Index & 50% DAXK Index, One call strike at 100%, One written call strike at 110%, One written put strike at 100% with a barrier level strike at 75%, Expires 08/07/13, Broker JPMorgan Chase & Co. | $ | 354,482 | |||||
147,580 | Citigroup, Inc., One written call strike $40.30, One written put strike $43.64 with a barrier level strike of $28.36, Expires 02/21/14, Broker Goldman Sachs Group, Inc. | 511,979 | ||||||
143,308 | Citigroup, Inc., One written call strike $41.00, One written put strike $43.64 with a barrier level strike of $28.36, Expires 01/17/14, Broker Goldman Sachs Group, Inc. | 503,452 | ||||||
2,624 | DAXK Index, One call strike $3,808.3, One written call strike $4,569.96, One written put strike $3,808.3 with a barrier level strike of $2,665.81, Expires 09/20/13, Broker Goldman Sachs Group, Inc. | 1,017,000 | ||||||
2,785 | DAXK Index, One call strike $4,014.32, One written call strike $4,616.46, One written put strike $4,014.32 with a barrier level strike of $2,609.308, Expires 10/18/13, Broker Goldman Sachs Group, Inc. | 659,678 | ||||||
2,455 | DAXK Index, One call strike $4,073.41, One written call strike $4,684.42, One written put strike $4,073.41 with a barrier level strike of $2,647.72, Expires 10/18/13, Broker Credit Suisse Group AG | 515,000 | ||||||
2,455 | DAXK Index, One call strike $4,073.41, One written call strike $4,684.42, One written put strike $4,073.41 with a barrier level strike of $2,647.72, Expires 11/15/13, Broker Credit Suisse Group AG | 510,157 | ||||||
6,028 | DAXK Index, One call strike $4,147.00, One written call strike $4,769.05, One written put strike $4,147.00 with a barrier level strike of $2,695.55, Expires 04/17/14, Broker Goldman Sachs Group, Inc. | 685,363 |
Contracts | Value | |||||||
2,338 | DAXK Index, One call strike $4,277.00, One written call strike $4,833.01, One written put strike $4,277.00 with a barrier level strike of $2,993.90, Expires 08/15/14, Broker Goldman Sachs Group, Inc. | $ | (296,885 | ) | ||||
4,319 | DAXK Index, One call strike $4,318.75, One written call strike $4,966.5625, One written put strike $4,318.75 with a barrier level strike of $3,023.125, Expires 06/20/14, Broker JPMorgan Chase & Co. | (261,472 | ) | |||||
1,464 | Energy Select Sector SPDR, outperformance call option above Consumer Discretionary SPDR, One written put strike $1,463.78, with a barrier level strike on the S&P 500 Index of $1,024.646, Expires 06/21/13, Broker Citigroup, Inc. | (4,590 | ) | |||||
858,623 | FTSE 100 Index, One call strike $6,541.93, One written call strike $1,330.55 on TOPIX 100 Index, One written put strike $1,214.85 on TOPIX 100 Index with a barrier level strike of $983.45, Expires 07/26/13, Broker Goldman Sachs Group, Inc. | (261,888 | ) | |||||
10,000 | FTSE MIB Index, One call strike $16,163.89, One written call strike $20,204.86, One written put strike $15,542.20 with a barrier level strike of $11,656.65, Expires 06/20/14, Broker Goldman Sachs Group, Inc. | 204,175 | ||||||
10,000 | FTSE MIB Index, One call strike $16,163.89, One written call strike $20,204.86, One written put strike $15,542.20 with a barrier level strike of $11,656.65, Expires 06/20/14, Broker Goldman Sachs Group, Inc. | 155,368 | ||||||
184,702 | iShares MSCI Brazil Index Fund, One call strike $54.1412, One written call strike $62.2624, One written put strike $54.1412 with a barrier level strike of $32.4847, Expires 11/15/13, Broker Citigroup, Inc. | 355,674 |
44 |
|
Old Westbury Funds, Inc. | |
Global Opportunities Fund | |
Portfolio of Investments - (Continued) | April 30, 2013 |
(Unaudited) |
Contracts | Value | |||||||
91,950 | iShares MSCI Brazil Index Fund, One call strike $54.3776, One written call strike $62.5342, One written put strike $54.3776 with a barrier level strike of $32.6266, Expires 11/15/13, Broker Citigroup, Inc. | $ | 172,510 | |||||
183,149 | iShares MSCI Brazil Index Fund, One call strike $54.6003, One written call strike $62.7903, One written put strike $54.6003 with a barrier level strike of $39.312, Expires 09/19/14, Broker JPMorgan Chase & Co. | (267,493 | ) | |||||
93,089 | iShares MSCI Brazil Index Fund, One call strike $54.7864, One written call strike $57.4721, One written put strike $56.3978 with a barrier level strike of $48.3410, Expires 07/19/13, Broker Citigroup, Inc. | (45,098 | ) | |||||
181,225 | iShares MSCI Brazil Index Fund, One call strike $55.18, One written call strike $62.35, One written put strike $55.18 with a barrier level strike of $41.39, Expires 08/15/14, Broker UBS AG | (445,028 | ) | |||||
178,935 | iShares MSCI Brazil Index Fund, One call strike $55.8863, One written call strike $63.1515, One written put strike $55.8863 with a barrier level strike of $41.9147, Expires 07/18/14, Broker Citigroup, Inc. | (492,993 | ) | |||||
177,305 | iShares MSCI Brazil Index Fund, One call strike $56.40, One written call strike $62.60, One written put strike $56.40 with a barrier level strike of $41.17, Expires 02/21/14, Broker UBS AG | (229,218 | ) | |||||
97,599 | iShares MSCI EAFE Index Fund, One call strike $51.23, One written call strike $58.91, One written put strike $51.23 with a barrier level strike of $33.30, Expires 01/17/14, Broker UBS AG | 542,707 | ||||||
189,753 | iShares MSCI EAFE Index Fund, One call strike $52.70, One written call strike $57.97, One written put strike $52.70 with a barrier level strike of $31.62, Expires 02/21/14, Broker UBS AG | 674,586 |
Contracts | Value | |||||||
94,762 | iShares MSCI EAFE Index Fund, One call strike $52.7638, One written call strike $60.6784, One written put strike $52.7638 with a barrier level strike of $34.2965, Expires 02/21/14, Broker Citigroup, Inc. | $ | 474,159 | |||||
470,190 | iShares MSCI EAFE Index Fund, One call strike $53.17, One written call strike $61.1455, One written put strike $53.17 with a barrier level strike of $34.5605, Expires 09/20/13, Broker Goldman Sachs Group, Inc. | 2,763,529 | ||||||
1,128,456 | iShares MSCI EAFE Index Fund, One call strike $53.17, One written call strike $63.804, One written put strike $53.17 with a barrier level strike of $34.5605, Expires 02/21/14, Broker Goldman Sachs Group, Inc. | 6,940,541 | ||||||
750,920 | iShares MSCI EAFE Index Fund, One call strike $53.268, One written call strike $61.2582, One written put strike $53.268 with a barrier level strike of $37.288, Expires 07/19/13, Broker JPMorgan Chase & Co. | 4,800,974 | ||||||
93,552 | iShares MSCI EAFE Index Fund, One call strike $53.446, One written call strike $61.4629, One written put strike $53.446 with a barrier level strike of $32.0676, Expires 03/21/14, Broker Goldman Sachs Group, Inc. | 448,051 | ||||||
187,058 | iShares MSCI EAFE Index Fund, One call strike $53.4593, One written call strike $58.8052, One written put strike $53.4593 with a barrier level strike of $34.7490, Expires 01/17/14, Broker JPMorgan Chase & Co. | 652,947 | ||||||
139,070 | iShares MSCI EAFE Index Fund, One call strike $53.93, One written call strike $62.02, One written put strike $53.93 with a barrier level strike of $32.358, Expires 03/21/14, Broker Goldman Sachs Group, Inc. | 654,965 |
45 |
|
Old Westbury Funds, Inc. | |
Global Opportunities Fund | |
Portfolio of Investments - (Continued) | April 30, 2013 |
(Unaudited) |
Contracts | Value | |||||||
163,026 | iShares MSCI EAFE Index Fund, One call strike $54.27, One written call strike $62.4105, One written put strike $54.27 with a barrier level strike of $35.2755, Expires 01/17/14, Broker Citigroup, Inc. | $ | 775,215 | |||||
184,150 | iShares MSCI EAFE Index Fund, One call strike $54.3036, One written call strike $62.4491, One written put strike $54.3036 with a barrier level strike of $35.2973, Expires 02/21/14, Broker Goldman Sachs Group, Inc. | 841,624 | ||||||
183,993 | iShares MSCI EAFE Index Fund, One call strike $54.35, One written call strike $62.50, One written put strike $54.35 with a barrier level strike of $32.61, Expires 02/21/14, Broker UBS AG | 866,878 | ||||||
303,495 | iShares MSCI EAFE Index Fund, One call strike $54.6556, One written call strike $61.2143, One written put strike $54.6556 with a barrier level strike of $38.2589, Expires 07/19/13, Broker Citigroup, Inc. | 1,515,638 | ||||||
182,882 | iShares MSCI EAFE Index Fund, One call strike $54.68, One written call strike $62.88, One written put strike $54.68 with a barrier level strike of $35.54, Expires 12/20/13, Broker UBS AG | 875,368 | ||||||
272,777 | iShares MSCI EAFE Index Fund, One call strike $54.99, One written call strike $63.24, One written put strike $54.99 with a barrier level strike of $35.74, Expires 03/21/14, Broker UBS AG | 1,131,686 | ||||||
272,727 | iShares MSCI EAFE Index Fund, One call strike $55.00, One written call strike $63.25, One written put strike $55.00 with a barrier level strike of $33.00, Expires 04/17/14, Broker UBS AG | 1,132,130 | ||||||
90,843 | iShares MSCI EAFE Index Fund, One call strike $55.04, One written call strike $63.296, One written put strike $55.04 with a barrier level strike of $33.024, Expires 04/17/14, Broker JPMorgan Chase & Co. | 388,235 |
Contracts | Value | |||||||
271,730 | iShares MSCI EAFE Index Fund, One call strike $55.2019, One written call strike $63.4822, One written put strike $55.2019 with a barrier level strike of $37.5373, Expires 03/21/14, Broker Credit Suisse Group AG | $ | 1,044,830 | |||||
178,955 | iShares MSCI EAFE Index Fund, One call strike $55.88, One written call strike $62.5856, One written put strike $55.88 with a barrier level strike of $36.322, Expires 04/17/14, Broker JPMorgan Chase & Co. | 525,888 | ||||||
266,809 | iShares MSCI EAFE Index Fund, One call strike $56.22, One written call strike $64.65, One written put strike $56.22 with a barrier level strike of $38.23, Expires 05/16/14, Broker Credit Suisse Group AG | 846,874 | ||||||
266,714 | iShares MSCI EAFE Index Fund, One call strike $56.24, One written call strike $64.68, One written put strike $56.24 with a barrier level strike of $39.37, Expires 05/16/14, Broker UBS AG | 781,288 | ||||||
177,462 | iShares MSCI EAFE Index Fund, One call strike $56.35, One written call strike $67.62, One written put strike $56.35 with a barrier level strike of $36.63, Expires 08/15/14, Broker Credit Suisse Group AG | 596,531 | ||||||
176,697 | iShares MSCI EAFE Index Fund, One call strike $56.5940, One written call strike $65.0831, One written put strike $56.5940 with a barrier level strike of $36.7861, Expires 08/15/14, Broker Citigroup, Inc. | 365,653 | ||||||
174,767 | iShares MSCI EAFE Index Fund, One call strike $57.2191, One written call strike $65.8020, One written put strike $57.2191 with a barrier level strike of $37.1924, Expires 08/15/14, Broker Citigroup, Inc. | 317,691 |
46 |
|
Old Westbury Funds, Inc. | |
Global Opportunities Fund | |
Portfolio of Investments - (Continued) | April 30, 2013 |
(Unaudited) |
Contracts | Value | |||||||
173,220 | iShares MSCI EAFE Index Fund, One call strike $57.73, One written call strike $68.12, One written put strike $57.73 with a barrier level strike of $41.85, Expires 07/18/14, Broker Credit Suisse Group AG | $ | 341,174 | |||||
172,859 | iShares MSCI EAFE Index Fund, One call strike $57.8506, One written call strike $66.5282, One written put strike $57.8506 with a barrier level strike of $39.0492, Expires 08/15/14, Broker Citigroup, Inc. | 225,112 | ||||||
259,023 | iShares MSCI EAFE Index Fund, One call strike $57.91, One written call strike $64.69, One written put strike $57.91 with a barrier level strike of $40.54, Expires 08/15/14, Broker UBS AG | 334,771 | ||||||
345,352 | iShares MSCI EAFE Index Fund, One call strike $57.912, One written call strike $67.77, One written put strike $57.912 with a barrier level strike of $40.54, Expires 08/15/14, Broker Goldman Sachs Group, Inc. | 510,996 | ||||||
85,837 | iShares MSCI EAFE Index Fund, One call strike $58.25, One written call strike $64.08, One written put strike $58.25 with a barrier level strike of $40.78, Expires 07/18/14, Broker UBS AG | 9,304 | ||||||
170,329 | iShares MSCI EAFE Index Fund, One call strike $58.71, One written call strike $65.17, One written put strike $58.71 with a barrier level strike of $41.10, Expires 08/15/14, Broker UBS AG | (26,944 | ) | |||||
423,298 | iShares MSCI EAFE Index Fund, One call strike $60.83, One written put strike $50.20 with a barrier level strike of $44.295, Expires 07/29/13, Broker Goldman Sachs Group, Inc. | 687,828 | ||||||
750,920 | iShares MSCI EAFE Index Fund, One call strike $61.2582, One written call strike $53.268, One put strike $53.268 with a barrier level strike of $37.288, Expires 07/19/13, Broker Goldman Sachs Group, Inc. | (4,720,815 | ) |
Contracts | Value | |||||||
337,268 | iShares MSCI EAFE Index Fund, One call strike $61.672, One written put strike $51.591 with a barrier level strike of $45.661, Expires 09/20/13, Broker Goldman Sachs Group, Inc. | $ | 527,808 | |||||
240,804 | iShares MSCI Emerging Markets Index Fund, One call strike $41.5276, One written call strike $47.7567, One written put strike $41.5276 with a barrier level strike of $26.993, Expires 04/17/14, Broker JPMorgan Chase & Co. | 340,531 | ||||||
354,404 | iShares MSCI Emerging Markets Index Fund, One call strike $42.3246, One written call strike $48.25, One written put strike $42.3246 with a barrier level strike of $29.6272, Expires 04/17/14, Broker Citigroup, Inc. | 219,546 | ||||||
354,244 | iShares MSCI Emerging Markets Index Fund, One call strike $42.3437, One written call strike $48.6953, One written put strike $42.3437 with a barrier level strike of $30.9109, Expires 08/15/14, Broker Citigroup, Inc. | (131,765 | ) | |||||
233,918 | iShares MSCI Emerging Markets Index Fund, One call strike $42.75, One written call strike $49.16, One written put strike $42.75 with a barrier level strike of $30.78, Expires 09/19/14, Broker UBS AG | (174,882 | ) | |||||
230,627 | iShares MSCI Emerging Markets Index Fund, One call strike $43.36, One written call strike $49.864, One written put strike $43.36 with a barrier level strike of $30.3520, Expires 05/16/14, Broker JPMorgan Chase & Co. | 30,538 | ||||||
229,938 | iShares MSCI Emerging Markets Index Fund, One call strike $43.49, One written call strike $47.84, One written put strike $43.49 with a barrier level strike of $30.44, Expires 01/17/14, Broker UBS AG | (23,656 | ) | |||||
457,143 | iShares MSCI Emerging Markets Index Fund, One call strike $43.75, One written call strike $48.125, One written put strike $43.75 with a barrier level strike of $32.375, Expires 02/21/14, Broker JPMorgan Chase & Co. | (173,589 | ) |
47 |
|
Old Westbury Funds, Inc. | |
Global Opportunities Fund | |
Portfolio of Investments - (Continued) | April 30, 2013 |
(Unaudited) |
Contracts | Value | |||||||
334,225 | iShares MSCI Emerging Markets Index Fund, One call strike $44.88, One written call strike $51.62, One written put strike $44.88 with a barrier level strike of $32.537, Expires 06/20/14, Broker Goldman Sachs Group, Inc. | $ | (469,646 | ) | ||||
140,193 | iShares MSCI Mexico Index Fund, One call strike $71.33, One written call strike $82.03, One written put strike $71.33 with a barrier level strike of $49.93, Expires 05/16/14, Broker UBS AG | 40,810 | ||||||
137,269 | iShares MSCI Mexico Index Fund, One call strike $72.85, One written call strike $83.78, One written put strike $72.85 with a barrier level strike of $54.6375, Expires 07/18/14, Broker Goldman Sachs Group, Inc. | (307,641 | ) | |||||
137,212 | iShares MSCI Mexico Index Fund, One call strike $72.88, One written call strike $80.8968, One written put strike $72.88 with a barrier level strike of $54.66, Expires 02/21/14, Broker JPMorgan Chase & Co. | (130,625 | ) | |||||
347,175 | iShares Silver Trust, One call strike $28.804 with a barrier level strike of $43.207, One written put strike $28.804 with a barrier level strike of $18.722, Expires 08/15/14, Broker Goldman Sachs Group, Inc. | (1,497,822 | ) | |||||
613,686 | iShares Silver Trust, One call strike $32.59 with a barrier level strike of $48.885, One written put strike $32.59 with a barrier level strike of $19.554, Expires 06/20/14, Broker Goldman Sachs Group, Inc. | (4,119,371 | ) | |||||
236,821 | Market Vectors Oil Service ETF, One call strike $42.226, One written call strike $47.7154, One written put strike $42.226 with a barrier level strike of $27.4469, Expires 09/19/14, Broker Goldman Sachs Group, Inc. | (275,492 | ) |
Contracts | Value | |||||||
234,192 | Market Vectors Oil Service ETF, One call strike $42.70, One written call strike $46.97, One written put strike $42.70 with a barrier level strike of $29.89, Expires 01/17/14, Broker Goldman Sachs Group, Inc. | $ | (60,332 | ) | ||||
378,215 | Market Vectors Russia ETF, One call strike $26.44, One written call strike $31.728, One written put strike $26.44 with a barrier level strike of $18.508, Expires 09/19/14, Broker Goldman Sachs Group, Inc. | (324,029 | ) | |||||
366,133 | Market Vectors Russia ETF, One call strike $27.3125, One written call strike $31.41, One written put strike $27.3125 with a barrier level strike of $17.752, Expires 01/17/14, Broker Goldman Sachs Group, Inc. | (53,823 | ) | |||||
180,050 | Market Vectors Russia ETF, One call strike $27.77, One written call strike $33.324, One written put strike $27.77 with a barrier level strike of $16.662, Expires 12/20/13, Broker Goldman Sachs Group, Inc. | 32,032 | ||||||
268,529 | Market Vectors Russia ETF, One call strike $27.93, One written call strike $33.53, One written put strike $27.93 with a barrier level strike of $16.75, Expires 12/20/13, Broker Goldman Sachs Group, Inc. | 21,538 | ||||||
177,557 | Market Vectors Russia ETF, One call strike $28.16, One written call strike $33.80, One written put strike $28.16 with a barrier level strike of $16.89, Expires 12/20/13, Broker Goldman Sachs Group, Inc. | (7,160 | ) | |||||
10,000 | MSCI EAFE Index, One call strike $1,641.42, One written put strike $1,641.42 with a barrier level strike of $1,329.55, Expires 03/31/14, Broker Goldman Sachs Group, Inc. | 917,978 |
48 |
|
Old Westbury Funds, Inc. | |
Global Opportunities Fund | |
Portfolio of Investments - (Continued) | April 30, 2013 |
(Unaudited) |
Contracts | Value | |||||||
10,000 | Nikkei-225 Index, One call strike $10,629.8287, One written call strike $12,755.7944, Expires 06/18/14, One written put strike $878.5780 on Russell 2000 Index with a barrier level strike of $615.0046, Expires 06/20/14, Broker Citigroup, Inc. | $ | 1,086,120 | |||||
2,233 | Nikkei-225 Index, One call strike $8,956.00, One written call strike $11,195.00, One written put strike $8,956.00 with a barrier level strike of $6,851.34, Expires 03/14/14, Broker Credit Suisse Group AG | 4,431,031 | ||||||
1,105 | Nikkei-225 Index, One call strike $9,050.00, One written call strike $10,407.50, One written put strike $8,389.35, Expires 12/13/13, Broker JPMorgan Chase & Co. | 1,388,236 | ||||||
3,984 | Nikkei-225 Index, One written call strike $11,596.2396, One written put strike $10,794.00 with a barrier level strike of $8,365.35, Expires 03/14/14, Broker Goldman Sachs Group, Inc. | 9,476,020 | ||||||
2,218 | Nikkei-225 Index, One written call strike $11,905.00, One written put strike $10,487.35 with a barrier level strike of $8,232.572, Expires 04/18/14, Broker Goldman Sachs Group, Inc. | 5,240,393 | ||||||
12,960 | Russell 2000 Index, One call strike $771.58, One written call strike $902.75, One written put strike $771.58 with a barrier level strike of $540.109, Expires 02/21/14, Broker Goldman Sachs Group, Inc. | 1,151,618 | ||||||
50,730 | Russell 2000 Index, One call strike $788.49, One written call strike $946.19, One written put strike $788.49 with a barrier level strike of $551.941, Expires 02/21/14, Broker Goldman Sachs Group, Inc. | 5,029,927 | ||||||
18,491 | Russell 2000 Index, One call strike $811.22, One written call strike $949.14, One written put strike $811.22 with a barrier level strike of $567.853, Expires 04/17/14, Broker Goldman Sachs Group, Inc. | 1,327,206 |
Contracts | Value | |||||||
12,189 | Russell 2000 Index, One call strike $820.47, One written call strike $943.55, One written put strike $820.47 with a barrier level strike of $574.326, Expires 05/16/14, Broker Goldman Sachs Group, Inc. | $ | 688,414 | |||||
12,030 | Russell 2000 Index, One call strike $831.26, One written call strike $972.5742, One written put strike $831.26 with a barrier level strike of $581.882, Expires 05/16/14, Broker Goldman Sachs Group, Inc. | 742,453 | ||||||
17,736 | Russell 2000 Index, One call strike $845.75, One written call strike $972.6125, One written put strike $845.75 with a barrier level strike of $592.025, Expires 05/16/14, Broker Goldman Sachs Group, Inc. | 859,100 | ||||||
5,510 | Russell 2000 Index, One call strike $907.50, One written call strike $1,007.325, One written put strike $907.50 with a barrier level strike of $635.25, Expires 07/18/14, Broker Goldman Sachs Group, Inc. | (163 | ) | |||||
10,921 | Russell 2000 Index, One call strike $915.68, One written call strike $1,062.19, One written put strike $915.68 with a barrier level strike of $659.29, Expires 09/19/14, Broker UBS AG | (64,373 | ) | |||||
10,676 | Russell 2000 Index, One call strike $936.65, One written call strike $1,077.15, One written put strike $936.65 with a barrier level strike of $702.4875, Expires 08/15/14, Broker Goldman Sachs Group, Inc. | (179,666 | ) | |||||
10,663 | Russell 2000 Index, One call strike $937.8295, One written call strike $1,059.7474, One written put strike $937.8295 with a barrier level strike of $656.4807, Expires 07/18/14, Broker Goldman Sachs Group, Inc. | (102,793 | ) | |||||
10,618 | Russell 2000 Index, One call strike $941.80, One written call strike $1,083.07, One written put strike $941.80 with a barrier level strike of $659.26, Expires 08/15/14, Broker UBS AG | (161,395 | ) |
49 |
|
Old Westbury Funds, Inc. | |
Global Opportunities Fund | |
Portfolio of Investments - (Continued) | April 30, 2013 |
(Unaudited) |
Contracts | Value | |||||||
10,536 | Russell 2000 Index, One call strike $949.1365, One written call strike $1,082.0156, One written put strike $949.1365 with a barrier level strike of $692.87, Expires 08/15/14, Broker JPMorgan Chase & Co. | $ | (239,385 | ) | ||||
10,517 | Russell 2000 Index, One call strike $950.85, One written call strike $1,074.50, One written put strike $950.85 with a barrier level strike of $713.13, Expires 07/18/14, Broker Goldman Sachs Group, Inc. | (282,230 | ) | |||||
10,871 | S&P 500 Index, One call strike $1,379.79, One written call strike $1,655.75, One written put strike $1,379.79 with a barrier level strike of $1,034.84, Expires 02/21/14, Broker Credit Suisse Group AG | 1,760,462 | ||||||
7,160 | S&P 500 Index, One call strike $1,396.78, One written call strike $1,676.14, One written put strike $1,396.78 with a barrier level strike of $977.746, Expires 04/17/14, Broker Goldman Sachs Group, Inc. | 1,067,614 | ||||||
3,578 | S&P 500 Index, One call strike $1,397.24, One written call strike $1,676.688, One written put strike $1,397.24 with a barrier level strike of $978.068, Expires 04/17/14, Broker JPMorgan Chase & Co. | 530,371 | ||||||
109,500 | S&P 500 Index, One call strike $1,398.58, One written call strike $1,608.37, One written put strike $1,398.58 with a barrier level strike of $1,006.98, Expires 04/17/14, Broker Credit Suisse Group AG | 411,463 | ||||||
21,410 | S&P 500 Index, One call strike $1,401.20, One written call strike $1,639.404, One written put strike $1,401.20 with a barrier level strike of $980.84, Expires 04/17/14, Broker JPMorgan Chase & Co. | 2,760,942 |
Contracts | Value | |||||||
3,568 | S&P 500 Index, One call strike $1,401.38 with a barrier level strike when EUR is less than 1.22, One written put strike $1,401.38 with a barrier level strike of $1,051.00, Expires 07/19/13, Broker Goldman Sachs Group, Inc. | $ | 22,324 | |||||
7,135 | S&P 500 Index, One call strike $1,401.4609, One written call strike $1,555.6216, One written put strike $1,401.4609 with a barrier level strike of $981.0227, Expires 02/21/14, Broker Goldman Sachs Group, Inc. | 675,381 | ||||||
7,133 | S&P 500 Index, One call strike $1,401.86, One written call strike $1,612.14, One written put strike $1,401.86 with a barrier level strike of $1,009.34, Expires 04/21/14, Broker Citigroup, Inc. | 799,703 | ||||||
3,566 | S&P 500 Index, One call strike $1,402.22 with a barrier level strike when EUR is less than 1.23, One written put strike $1,402.22 with a barrier level strike of $764.00, Expires 08/16/13, Broker Goldman Sachs Group, Inc. | 48,089 | ||||||
10,655 | S&P 500 Index, One call strike $1,407.83, One written call strike $1,619.00, One written put strike $1,407.83 with a barrier level strike of $1,055.8725, Expires 03/21/14, Broker Goldman Sachs Group, Inc. | 1,224,535 | ||||||
10,617 | S&P 500 Index, One call strike $1,412.84, One written call strike $1,653.0228, One written put strike $1,412.84 with a barrier level strike of $1,024.3090, Expires 06/20/14, Broker JPMorgan Chase & Co. | 1,176,359 | ||||||
10,594 | S&P 500 Index, One call strike $1,415.9583, One written call strike $1,600.0329, One written put strike $1,415.9583 with a barrier level strike of $1,019.49, Expires 04/17/14, Broker JPMorgan Chase & Co. | 999,809 |
50 |
|
Old Westbury Funds, Inc. | |
Global Opportunities Fund | |
Portfolio of Investments - (Continued) | April 30, 2013 |
(Unaudited) |
Contracts | Value | |||||||
10,519 | S&P 500 Index, One call strike $1,426.00, One written call strike $1,639.9, One written put strike $1,426.00 with a barrier level strike of $1,069.50, Expires 05/16/14, Broker Goldman Sachs Group, Inc. | $ | 1,021,497 | |||||
6,999 | S&P 500 Index, One call strike $1,428.75, One written call strike $1,600.20, One written put strike $1,428.75 with a barrier level strike of $1,071.56, Expires 05/16/14, Broker UBS AG | 509,256 | ||||||
6,997 | S&P 500 Index, One call strike $1,429.2594, One written call strike $1,643.6483, One written put strike $1,429.2594 with a barrier level strike of $1,036.2131, Expires 05/16/14, Broker Goldman Sachs Group, Inc. | 695,965 | ||||||
6,974 | S&P 500 Index, One call strike $1,433.79, One written call strike $1,577.17, One written put strike $1,433.79 with a barrier level strike of $1,003.65, Expires 01/17/14, Broker Credit Suisse Group AG | 590,864 | ||||||
10,439 | S&P 500 Index, One call strike $1,436.9466, One written call strike $1,652.4886, One written put strike $1,436.9466 with a barrier level strike of $1,005.863, Expires 12/20/13, Broker JPMorgan Chase & Co. | 1,303,470 | ||||||
6,947 | S&P 500 Index, One call strike $1,439.53, One written call strike $1,612.2736, One written put strike $1,439.53 with a barrier level strike of $1,043.6593, Expires 05/16/14, Broker Goldman Sachs Group, Inc. | 520,034 | ||||||
13,861 | S&P 500 Index, One call strike $1,442.91, One written call strike $1,659.3465, One written put strike $1,442.91 with a barrier level strike of $1,010.037, Expires 02/21/14, Broker Goldman Sachs Group, Inc. | 1,551,491 |
Contracts | Value | |||||||
13,859 | S&P 500 Index, One call strike $1,443.07, One written call strike $1,659.53, One written put strike $1,443.07 with a barrier level strike of $1,010.15, Expires 02/21/14, Broker Credit Suisse Group AG | $ | 1,525,489 | |||||
3,460 | S&P 500 Index, One call strike $1,445.08, One written call strike $1,661.842, One written put strike $1,445.08 with a barrier level strike of $1,011.556, Expires 03/21/14, Broker Goldman Sachs Group, Inc. | 366,958 | ||||||
13,771 | S&P 500 Index, One call strike $1,452.31, One written call strike $1,742.77, One written put strike $1,452.31 with a barrier level strike of $1,089.23, Expires 03/21/14, Broker UBS AG | 1,620,868 | ||||||
3,442 | S&P 500 Index, One call strike $1,452.50, One written call strike $1,670.3750, One written put strike $1,452.50 with a barrier level strike of $1,016.75, Expires 01/17/14, Broker JPMorgan Chase & Co. | 393,834 | ||||||
3,437 | S&P 500 Index, One call strike $1,454.90, One written call strike $1,600.39, One written put strike $1,454.90 with a barrier level strike of $1,018.43, Expires 11/15/13, Broker JPMorgan Chase & Co. | 311,732 | ||||||
3,430 | S&P 500 Index, One call strike $1,457.70, One written call strike $1,603.47, One written put strike $1,457.70 with a barrier level strike of $1,020.39, Expires 10/18/13, Broker Citigroup, Inc. | 324,608 | ||||||
6,850 | S&P 500 Index, One call strike $1,459.78, One written call strike $1,605.758, One written put strike $1,459.78 with a barrier level strike of $1,021.846, Expires 11/15/13, Broker Citigroup, Inc. | 603,173 | ||||||
11,032 | S&P 500 Index, One call strike $1,461.10, One written call strike $1,607.21, One written put strike $1,461.10 with a barrier level strike of $1,022.77, Expires 12/20/13, Broker Citigroup, Inc. | 911,038 |
51 |
|
Old Westbury Funds, Inc. | |
Global Opportunities Fund | |
Portfolio of Investments - (Continued) | April 30, 2013 |
(Unaudited) |
Contracts | Value | |||||||
3,729 | S&P 500 Index, One call strike $1,461.6163, One written call strike $1,607.778, One written put strike $1,461.6163 with a barrier level strike of $1,023.1314, Expires 12/20/13, Broker Goldman Sachs Group, Inc. | $ | 309,709 | |||||
20,512 | S&P 500 Index, One call strike $1,462.53, One written call strike $1,681.91, One written put strike $1,462.53 with a barrier level strike of $1,023.771, Expires 10/18/13, Broker Goldman Sachs Group, Inc. | 2,514,479 | ||||||
5,127 | S&P 500 Index, One call strike $1,462.90, One written call strike $1,682.335, One written put strike $1,462.90 with a barrier level strike of $1,024.03, Expires 02/21/14, Broker Citigroup, Inc. | 521,107 | ||||||
11,072 | S&P 500 Index, One call strike $1,463.10, One written call strike $1,609.41, One written put strike $1,463.10 with a barrier level strike of $1,024.17, Expires 12/20/13, Broker JPMorgan Chase & Co. | 910,958 | ||||||
13,619 | S&P 500 Index, One call strike $1,468.49, One written call strike $1,688.76, One written put strike $1,468.49 with a barrier level strike of $1,027.94, Expires 02/21/14, Broker Credit Suisse Group AG | 1,354,569 | ||||||
10,193 | S&P 500 Index, One call strike $1,471.57, One written call strike $1,662.88, One written put strike $1,471.57 with a barrier level strike of $1,103.677, Expires 06/20/14, Broker Goldman Sachs Group, Inc. | 604,343 | ||||||
6,683 | S&P 500 Index, One call strike $1,496.4369, One written call strike $1,646.0806, One written put strike $1,496.4369 with a barrier level strike of $1,122.3277, Expires 03/21/14, Broker Citigroup, Inc. | 313,382 | ||||||
13,223 | S&P 500 Index, One call strike $1,512.57, One written put strike $1,512.57 with a barrier level strike of $1,058.799, Expires 02/27/14, Broker JPMorgan Chase & Co. | (163,902 | ) |
Contracts | Value | |||||||
13,193 | S&P 500 Index, One call strike $1,515.964, One written call strike $1,644.8209, One written put strike $1,515.964 with a barrier level strike of $1,106.654, Expires 01/17/14, Broker JPMorgan Chase & Co. | $ | 613,676 | |||||
9,874 | S&P 500 Index, One call strike $1,519.11, One written call strike $1,663.4255, One written put strike $1,519.11 with a barrier level strike of $1,124.141, Expires 05/16/14, Broker JPMorgan Chase & Co. | 238,637 | ||||||
16,451 | S&P 500 Index, One call strike $1,519.68, One written call strike $1,641.2544, One written put strike $1,519.68 with a barrier level strike of $1,139.76, Expires 02/21/14, Broker JPMorgan Chase & Co. | 521,169 | ||||||
6,488 | S&P 500 Index, One call strike $1,541.22, One written call strike $1,710.7542, One written put strike $1,541.22 with a barrier level strike of $1,155.915, Expires 06/20/14, Broker Goldman Sachs Group, Inc. | 100,977 | ||||||
6,445 | S&P 500 Index, One call strike $1,551.50, One written call strike $1,722.165, One written put strike $1,551.50 with a barrier level strike of $1,163.625, Expires 07/18/14, Broker JPMorgan Chase & Co. | 11,055 | ||||||
6,445 | S&P 500 Index, One call strike $1,551.65, One written call strike $1,753.3645, One written put strike $1,551.65 with a barrier level strike of $1,132.7045, Expires 07/18/14, Broker Goldman Sachs Group, Inc. | 111,955 | ||||||
6,437 | S&P 500 Index, One call strike $1,553.5211, One written call strike $1,724.4084, One written put strike $1,553.5211 with a barrier level strike of $1,165.1408, Expires 07/18/14, Broker Citigroup, Inc. | 4,272 |
52 |
|
Old Westbury Funds, Inc. | |
Global Opportunities Fund | |
Portfolio of Investments - (Continued) | April 30, 2013 |
(Unaudited) |
Contracts | Value | |||||||
6,435 | S&P 500 Index, One call strike $1,554.10, One written call strike $1,756.13, One written put strike $1,554.10 with a barrier level strike of $1,134.49, Expires 08/15/14, Broker UBS AG | $ | 52,622 | |||||
6,408 | S&P 500 Index, One call strike $1,560.48, One written call strike $1,732.1328, One written put strike $1,560.48 with a barrier level strike of $1,185.965, Expires 07/18/14, Broker JPMorgan Chase & Co. | (34,906 | ) | |||||
10,000 | S&P 500 Index, One call strike $1,562.24, One written put strike $1,487.85 with a barrier level strike of $1,182.84, Expires 05/30/14, Broker Goldman Sachs Group, Inc. | 974,806 | ||||||
10,000 | S&P 500 Index, One call strike $1,562.24, One written put strike $1,487.85 with a barrier level strike of $1,190.28, Expires 05/16/14, Broker Goldman Sachs Group, Inc. | 323,345 | ||||||
10,000 | S&P 500 Index, One call strike $1,562.24, One written put strike $1,487.85 with a barrier level strike of $1,205.16, Expires 04/21/14, Broker Goldman Sachs Group, Inc. | 980,478 | ||||||
9,582 | S&P 500 Index, One call strike $1,565.50, One written call strike $1,753.36, One written put strike $1,565.50 with a barrier level strike of $1,174.125, Expires 07/18/14, Broker Goldman Sachs Group, Inc. | 7,508 | ||||||
6,440 | S&P 500 Index, One call strike $1,583.93, One written put strike $1,428.64, Expires 06/21/13, Broker UBS AG | 199,224 | ||||||
25,720 | S&P 500 Index, One call strike $1,586.33, One written put strike $1,430.81, Expires | |||||||
06/21/13, Broker Citigroup, Inc. | 751,784 | |||||||
19,288 | S&P 500 Index, One call strike $1,586.457, One written put strike $1,430.922, Expires 06/21/13, Broker JPMorgan Chase & Co. | 569,832 | ||||||
15,743 | S&P 500 Index, One call strike $1,619.75, One written put strike $1,476.83, Expires 12/20/13, Broker JPMorgan Chase & Co. | 167,344 |
Contracts | Value | |||||||
842,120 | S&P 500 Index, One call strike $1,621.31, One written call strike $1,356.724 on TOPIX 100 Index, One written put strike $1,238.748 on TOPIX 100 Index with a barrier level strike of $1,002.796, Expires 07/25/13, Broker Goldman Sachs Group, Inc. | $ | (355,002 | ) | ||||
47,678 | S&P 500 Index, One call strike $1,670.33 at 106%, One written put strike $2,431.40 at 92% on STOXX 50 Index, Expires 07/10/13, Broker Goldman Sachs Group, Inc. | 138,109 | ||||||
214,225 | SPDR S&P Homebuilders ETF, One call strike $23.34, One written call strike $29.175, One written put strike $23.34 with a barrier level strike of $15.171, Expires 01/17/14, Broker Goldman Sachs Group, Inc. | 888,214 | ||||||
319,435 | SPDR S&P Homebuilders ETF, One call strike $23.479, One written call strike $29.35, One written put strike $23.479 with a barrier level strike of $15.26, Expires 01/17/14, Broker Goldman Sachs Group, Inc. | 1,317,134 | ||||||
212,224 | SPDR S&P Homebuilders ETF, One call strike $23.56, One written call strike $29.45, One written put strike $23.56 with a barrier level strike of $15.31, Expires 01/17/14, Broker UBS AG | 879,439 | ||||||
384,008 | SPDR S&P Homebuilders ETF, One call strike $26.0411, One written call strike $31.2493, One written put strike $26.0411 with a barrier level strike of $15.6247, Expires 02/21/14, Broker Citigroup, Inc. | 1,074,933 | ||||||
359,998 | SPDR S&P Homebuilders ETF, One call strike $27.7779, One written call strike $33.3335, One written put strike $27.7779 with a barrier level strike of $19.4450, Expires 06/20/14, Broker JPMorgan Chase & Co. | 459,385 | ||||||
331,658 | SPDR S&P Homebuilders ETF, One call strike $30.1515, One written call strike $34.0712, One written put strike $30.1515 with a barrier level strike of $21.7091, Expires 07/18/14, Broker Citigroup, Inc. | (289,346 | ) |
53 |
|
Old Westbury Funds, Inc. | |
Global Opportunities Fund | |
Portfolio of Investments - (Continued) | April 30, 2013 |
(Unaudited) |
Contracts | Value | |||||||
190,006 | SPDR S&P Oil & Gas Exploration & Production ETF, One call strike $52.63, One written call strike $59.47, One written put strike $52.63 with a barrier level strike of $34.21, Expires 01/17/14, Broker UBS AG | $ | 374,531 | |||||
184,843 | SPDR S&P Oil & Gas Exploration & Production ETF, One call strike $54.10, One written call strike $64.92, One written put strike $54.10 with a barrier level strike of $32.46, Expires 01/17/14, Broker UBS AG | 559,414 | ||||||
3,839 | STOXX 50 Index, One call strike $2,605.00, Expires 01/19/18, One written put strike $2,605.00 with a barrier level strike of $1,439.2630, Expires 01/16/15, Broker JPMorgan Chase & Co. | 667,432 | ||||||
3,802 | STOXX 50 Index, One call strike $2,630.00, Expires 03/16/18, One written put strike $2,630.00 with a barrier level strike of $1,693.72, Expires 03/20/15, Broker Goldman Sachs Group, Inc. | 349,023 | ||||||
3,764 | STOXX 50 Index, One call strike $2,657.00, Expires 01/19/18, One written put strike $2,657.00 with a barrier level strike of $1,554.3450, Expires 01/16/15, Broker JPMorgan Chase & Co. | 455,842 | ||||||
5,516 | STOXX 50 Index, One call strike $2,719.48, Expires 02/16/18, One written put strike $2,719.48 with a barrier level strike of $1,706.4740, Expires 02/20/15, Broker JPMorgan Chase & Co. | 223,336 | ||||||
2,051 | STOXX50E Index, One call strike $2,437.3112, Expires 12/15/17, One written put strike $2,437.3112 with a barrier level strike of $1,413.641, Expires 12/19/14, Broker Goldman Sachs Group, Inc. | 583,011 | ||||||
8,061 | STOXX50E Index, One call strike $2,481.16, Expires 12/15/17, One written put strike $2,481.16 with a barrier level strike of $1,439.075, Expires 12/19/14, Broker Goldman Sachs Group, Inc. | 2,021,092 |
Contracts | Value | |||||||
5,904 | STOXX50E Index, One call strike $2,541.16, Expires 12/15/17, One written put strike $2,541.16 with a lower barrier level strike of $1,562.813 and an upper barrier level strike of $2,542.52, Expires 12/19/14, Broker Goldman Sachs Group, Inc. | $ | 1,179,622 | |||||
2,596 | STOXX50E Index, One call strike $2,595.70, Expires 01/19/18, One written put strike $2,595.70 with a barrier level strike of $1,491.2297, Expires 01/16/15, Broker Citigroup, Inc. | 659,083 | ||||||
1,920 | STOXX50E Index, One call strike $2,605.00, Expires 01/19/18, One written put strike $2,605.00 with a barrier level strike of $1,589.05, Expires 01/16/15, Broker Goldman Sachs Group, Inc. | 299,803 | ||||||
8,966 | TOPIX 100 Index, One call strike $1,115.29, One written call strike $1,260.28, One written put strike $934.20 on Russell 2000 Index with a barrier level strike of $700.65, Expires 08/15/14, Broker Goldman Sachs Group, Inc. | (183,705 | ) | |||||
8,868 | TOPIX 100 Index, One call strike $1,127.60, One written call strike $1,296.74, One written put strike $1,570.70 on S&P 500 Index with a barrier level strike of $1,178.025, Expires 08/15/14, Broker Goldman Sachs Group, Inc. | 59,694 | ||||||
17,540 | TOPIX 100 Index, One call strike $1,140.26, One written call strike $1,311.299, One written put strike $949.35 on Russell 2000 Index with a barrier level strike of $712.00, Expires 08/15/14, Broker Goldman Sachs Group, Inc. | (456,647 | ) | |||||
13,055 | TOPIX 100 Index, One call strike $1,148.97, One written call strike $1,321.32, One written put strike $1,563.83 on S&P 500 Index with a barrier level strike of $1,172.87, Expires 09/19/14, Broker Goldman Sachs Group, Inc. | (30,691 | ) |
54 |
|
Old Westbury Funds, Inc. | |
Global Opportunities Fund | |
Portfolio of Investments - (Continued) | April 30, 2013 |
(Unaudited) |
Contracts | Value | |||||||
8,696 | TOPIX 100 Index, One call strike $1,150.00, One written call strike $1,357.00, One written put strike $1,581.18 on S&P 500 Index with a barrier level strike of $1,185.85, Expires 09/19/14, Broker Goldman Sachs Group, Inc. | $ | 21,816 | |||||
7,727 | TOPIX 100 Index, One call strike $1,294.17, One written call strike $1,514.18, One written put strike $907.50 on Russell 2000 Index with a barrier level strike of $630.712, Expires 08/15/14, Broker Goldman Sachs Group, Inc. | 156,248 | ||||||
12,798 | TOPIX 100 Index, One call strike $781.39, One written call strike $898.61, One written put strike $1,413.75 on S&P 500 Index with a barrier level strike of $1,017.899, Expires 04/17/14, Broker Goldman Sachs Group, Inc. | 1,178,508 | ||||||
17,681 | TOPIX 100 Index, One call strike $848.38, One written call strike $1,018.056, One written put strike $1,440.20 on S&P 500 Index with a barrier level strike of $1,080.15, Expires 05/16/14, Broker Goldman Sachs Group, Inc. | 2,087,426 | ||||||
6,495 | TOPIX Index, One call strike $1,010.52, One written call strike $1,162.10, One written put strike $1,539.75 on S&P 500 Index with a barrier level strike of $1,154.81, Expires 06/20/14, Broker UBS AG | 500,889 | ||||||
6,415 | TOPIX Index, One call strike $1,080.30, One written call strike $1,242.345, One written put strike $1,558.85 on S&P 500 Index with a barrier level strike of $1,200.315, Expires 07/11/14, Broker JPMorgan Chase & Co. | 201,263 | ||||||
6,332 | TOPIX Index, One call strike $1,359.60, One written call strike $1,563.54, One written put strike $1,579.31 on S&P 500 Index with a barrier level strike of $1,184.48, Expires 09/19/14, Broker UBS AG | (20,804 | ) |
Contracts | Value | |||||||
3,429 |
TWSE Index, One call strike
$8,749.55, One written put strike $7,240.25, Expires 09/18/13, Broker JPMorgan Chase Bank NA |
$ | (134,969 | ) | ||||
Total Structured Options
(Premiums received $(45,159,215)) |
105,561,700 |
FUTURES CONTRACTS: SHORT POSITION
Unrealized | |||||||
Appreciation/ | |||||||
Contracts | (Depreciation) | ||||||
50 | Intercontinental Exchange Crude Oil, November 2013 | $ | 39,000 | ||||
50 | Intercontinental Exchange Crude Oil, January 2014 | (8,000 | ) | ||||
Net unrealized appreciation | $ | 31,000 | |||||
FUTURES CONTRACTS: LONG POSITION | |||||||
Unrealized | |||||||
Appreciation/ | |||||||
Contracts | (Depreciation) | ||||||
50 | Intercontinental Exchange Crude Oil, November 2013 | $ | 33,726 | ||||
280 | Intercontinental Exchange Crude Oil, December 2013 | (1,044,950 | ) | ||||
50 | Intercontinental Exchange Crude Oil, January 2014 | (7,000 | ) | ||||
Net unrealized depreciation | $ | (1,018,224 | ) |
Cash collateral of $288,560 for the open futures contracts is reflected in segregated cash for futures contracts in the Statements of Assets and Liabilities.
Unrealized | ||||
Depreciation | ||||
SWAP AGREEMENTS (PURCHASED) | ||||
Equity swap with UBS AG paying
variance of the S&P 500 Index over the target volatility of 28.60 and receiving variance of the S&P 500 Index under the target volatility of 28.60, expiring 12/18/15 (Underlying notional amount $500,000) |
$ | (3,821,370 | ) |
55 |
|
Old Westbury Funds, Inc. | |
Global Opportunities Fund | |
Portfolio of Investments - (Continued) | April 30, 2013 |
(Unaudited) |
Unrealized
Appreciation/ (Depreciation) |
||||
SWAP AGREEMENTS (WRITTEN) | ||||
Equity swap with BNP Paribas SA paying an amount if the realized correlation ratio is over 51% and receiving an amount if the realized correlation ratio is under 51%, expiring 12/13/13 (Underlying notional amount JPY 4,625,000)(c) | $ | (1,064,241 | ) | |
Equity swap with BNP Paribas SA receiving a payment if the dividends on the stocks in the STOXX50E Index are over the target value of 13.9 Euro and paying a payment if the dividends on the stocks in the STOXX50E Index are under the target value of 13.9 Euro, expiring 12/18/15 (Underlying notional amount Euro 100,000)(c) | (5,105,153 | ) | ||
Equity swap with Citigroup, Inc. paying variance of the S&P 500 Index over the target volatility of 33.30 and receiving variance of the S&P 500 Index under the target volatility of 33.30, expiring 12/15/17 (Underlying notional amount $100,000) | 876,385 | |||
Equity swap with JPMorgan Chase & Co. paying variance of the S&P 500 Index over the target volatility of 32.75 and receiving variance of the S&P 500 Index under the target volatility of 32.75, expiring 12/15/17 (Underlying notional amount $250,000) | 2,105,603 | |||
Equity swap with JPMorgan Chase & Co. paying variance of the S&P 500 Index over the target volatility of 33.05 and receiving variance of the S&P 500 Index under the target volatility of 33.05, expiring 12/18/15 (Underlying notional amount $500,000) | 5,289,997 | |||
Equity swap with JPMorgan Chase & Co. paying variance of the S&P 500 Index over the target volatility of 33.05 and receiving variance of the S&P 500 Index under the target volatility of 33.05, expiring 12/20/19 (Underlying notional amount $500,000) | 3,907,818 |
Unrealized
Appreciation/ (Depreciation) |
|||
Equity swap with JPMorgan Chase & Co. paying variance of the S&P 500 Index over the target volatility of 33.30 and receiving variance of the S&P 500 Index under the target volatility of 33.30, expiring 12/15/17 (Underlying notional amount $150,000) | $ | 1,321,737 | |
$ | 7,332,146 |
At April 30, 2013, the Global Opportunities Fund held investments in restricted securities with a fair value of $3,600,000 or 0.05% of net assets, as follows: |
04/30/13 | ||||||||||||
Acquisition | Acquisition | Carrying Value | ||||||||||
Cost | Issuer | Date | Per Unit | |||||||||
$ | 12,125,000 |
ShengdaTech, Inc.,
Cnv.(b)(c)(d)(f)(i) |
01/19/11 | $ | 30.00 |
(a) | Cost for federal income tax purposes is $6,617,761,311 and net unrealized appreciation of investments is as follows: |
Unrealized appreciation | $ | 476,030,976 | ||||
Unrealized depreciation | (141,561,180 | ) | ||||
Net unrealized appreciation | $ | 334,469,796 | ||||
(b) | Non-income producing security. |
(c) | This security is considered either fully or partially illiquid. These securities, or portions thereof have a value of $146,538,958 or 2.11% of net assets. Securities which are also exempt from registration under Rule 144A of the Securities Act of 1933, as amended (see (f) below) amount to $43,859,458, or 0.63% of net assets. |
(d) | Fair valued security under procedures established by the Fund’s Board of Directors. The aggregate value of fair valued securities is $25,204,878, which is 0.36% of net assets. |
(e) | Variable rate security. Rate shown is the rate as of April 30, 2013. |
(f) | 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 aggregate value is $618,729,633, which is 8.89% of net assets. These securities have been determined to be liquid in accordance with procedures adopted by the Fund’s Board of Directors except those also included in footnote (b) above. |
(g) | Investment in non-U.S. Dollars. Principal amount reflects local currency. |
(h) | Issuer filed for bankruptcy and/or is in default of interest payments. |
(i) | Principal amount denoted in Singapore Dollars. |
56 |
|
Old Westbury Funds, Inc. | |
Global Opportunities Fund | |
Portfolio of Investments - (Continued) | April 30, 2013 |
(Unaudited) |
(j) | Zero coupon bond. The rate represents the yield at time of purchase. |
(k) | Payment-in-kind (“PIK”) security. Income may be paid in additional securities or cash at the discretion of the issuer. |
(l) | The rate represents the annualized yield at time of purchase. |
(m) | Rate shown represents current yield at April 30, 2013. |
(n) | Security offered and sold outside of the United States, and this is exempt from registration under Regulation S of the Securities Act of 1933. It has been deemed liquid under guidelines approved by the Board. |
Percentage | |||||
Sector | of Net Assets | ||||
Asset-Backed Securities | 3.3% | ||||
Banks | 1.5% | ||||
Collateralized Mortgage Obligations | 12.7% | ||||
Commercial Mortgage-Backed Securities | 1.5% | ||||
Consumer Discretionary | 7.0% | ||||
Consumer Staples | 3.0% | ||||
Diversified Financials | 1.1% | ||||
Energy | 3.6% | ||||
Government Bonds | 12.4% | ||||
Health Care | 5.3% | ||||
Industrials | 4.5% | ||||
Information Technology | 8.1% | ||||
Insurance | 1.6% | ||||
Materials | 3.3% | ||||
Real Estate | 1.5% | ||||
Telecommunication Services | 2.3% | ||||
U.S. Government Agencies and Securities | 22.8% | ||||
Utilities | 1.2% | ||||
Other* | 3.3% | ||||
100.0% |
* | Includes cash and equivalents, exchange traded funds, options, rights/warrants, futures, swap agreements, pending trades and Fund share transactions, interest and dividends receivable, prepaids and accrued expenses payable. |
57 |
Old Westbury Funds, Inc. | |
Real Return Fund | |
Consolidated Portfolio of Investments | April 30, 2013 |
(Unaudited) |
Number
of
Coins |
||||||||
COLLECTIBLE COINS — 1.9% | ||||||||
UNITED STATES — 1.9% | ||||||||
67 | Various Collectible Coins and Sets of Coins(c) | 37,839,650 | ||||||
Total Collectible Coins
(Cost $36,337,576) |
37,839,650 |
Fine Troy
Ounces |
||||||||
COMMODITIES — 4.4% | ||||||||
UNITED STATES — 4.4% | ||||||||
60,175 | Gold Bullion | 88,862,742 | ||||||
Total Commodities
(Cost $57,245,403) |
88,862,742 |
Contracts | Value | |||||||
CALL OPTIONS PURCHASED — 0.0% | ||||||||
Commodities — 0.0% | ||||||||
4,000 | Chicago Board of Trade Corn No. 2 Yellow, Strike $800.00, Expiring 06/21/13 | $ | 325,000 | |||||
1,100 | Chicago Board of Trade Corn No. 2 Yellow, Strike $800.00, Expiring 06/21/13 | 89,375 | ||||||
1,000 | Chicago Board of Trade Corn No. 2 Yellow, Strike $820.00, Expiring 06/21/13 | 56,250 | ||||||
600 | New York Mercantile Exchange Natural Gas Futures, Strike $7.00, Expiring 05/28/13 | 600 | ||||||
600 | New York Mercantile Exchange Natural Gas Futures, Strike $7.00, Expiring 06/25/13 | 5,400 | ||||||
600 | New York Mercantile Exchange Natural Gas Futures, Strike $7.00, Expiring 07/26/13 | 25,200 | ||||||
600 | New York Mercantile Exchange Natural Gas Futures, Strike $7.00, Expiring 08/27/13 | 44,400 | ||||||
600 | New York Mercantile Exchange Natural Gas Futures, Strike $7.00, Expiring 09/25/13 | 78,600 | ||||||
Total Call Options Purchased
(Cost $18,397,720) |
624,825 |
Principal
Amount |
Value | |||||||
ASSET-BACKED SECURITIES — 6.1% | ||||||||
UNITED STATES — 6.1% | ||||||||
$ | 8,000,000 | GCO Education Loan Funding Trust, Series 2006-2A, Class A1AR, 1.49%, 08/27/46(d) | 7,440,000 | |||||
8,000,000 | GCO Education Loan Funding Trust, Series 2006-2A, Class A3AR, 1.47%, 08/27/46(d) | 7,440,000 | ||||||
9,450,000 | SLM Student Loan Trust, Series 2002-7, Class A10, 2.50%, 03/15/28(d) | 9,450,000 | ||||||
9,800,000 | SLM Student Loan Trust, Series 2002-7, Class A11, 1.75%, 03/15/28(d) | 9,800,000 | ||||||
2,650,000 | SLM Student Loan Trust, Series 2002-7, Class A6, 2.69%, 03/15/28(d) | 2,650,000 | ||||||
9,950,000 | SLM Student Loan Trust, Series 2002-7, Class A7, 1.60%, 03/15/28(d) | 9,950,000 | ||||||
11,650,000 | SLM Student Loan Trust, Series 2002-7, Class A8, 1.98%, 03/15/28(d) | 11,650,000 | ||||||
5,800,000 | SLM Student Loan Trust, Series 2002-7, Class A9, 2.69%, 03/15/28(d) | 5,800,000 | ||||||
3,350,000 | SLM Student Loan Trust, Series 2003-2, Class A6, 2.60%, 09/15/28(d) | 3,350,000 |
58 |
|
Old Westbury Funds, Inc. | |
Real Return Fund | |
Consolidated Portfolio of Investments - (Continued) | April 30, 2013 |
(Unaudited) |
Principal
Amount |
Value | |||||||
U.S. Treasury Bills (continued) | ||||||||
$ | 100,000,000 | 0.05%, 05/02/13(f) | $ | 99,999,858 | ||||
38,000,000 | 0.03%, 05/09/13(f) | 37,999,747 | ||||||
205,000,000 | 0.04%, 05/16/13(f) | 204,996,798 | ||||||
35,000,000 | 0.04%, 05/16/13(f) | 34,999,460 | ||||||
92,000,000 | 0.05%, 05/16/13(f) | 91,998,199 | ||||||
40,000,000 | 0.02%, 05/23/13(f) | 39,999,510 | ||||||
40,000,000 | 0.03%, 05/23/13(f) | 39,999,242 | ||||||
138,000,000 | 0.05%, 05/23/13(f) | 137,996,037 | ||||||
2,000,000 | 0.03%, 06/06/13(f) | 1,999,950 | ||||||
Total U.S. Government Securities
(Cost $856,988,627) |
856,988,627 |
Shares | ||||||||
CASH SWEEP — 0.4% | ||||||||
8,513,944 | Citibank - US Dollars on Deposit in Custody Account, 0.02%(g) | 8,513,944 | ||||||
Total Cash Sweep
(Cost $8,513,944) |
8,513,944 | |||||||
TOTAL INVESTMENTS — 98.4%
(Cost $1,937,026,972)(a) |
1,989,340,394 | |||||||
OTHER ASSETS IN EXCESS OF LIABILITIES — 1.6% | 31,861,662 | |||||||
NET ASSETS — 100.0% | $ | 2,021,202,056 |
Contracts | ||||||||
CALL OPTIONS WRITTEN — 0.0% | ||||||||
Commodities — 0.0% | ||||||||
(250 | ) | Chicago Board of Trade Soybean, Strike $1,300.00, Expiring 10/25/13 | (529,688 | ) | ||||
Total Call Options Written
(Premiums received $(550,000)) |
(529,688 | ) | ||||||
PUT OPTIONS WRITTEN — (0.6)% | ||||||||
Commodities — (0.6)% | ||||||||
(2,000 | ) | New York Mercantile Exchange Natural Gas Futures, Strike $4.20, Expiring 12/26/13 | (3,718,000 | ) | ||||
(500 | ) | New York Mercantile Exchange Natural Gas Futures, Strike $4.45, Expiring 06/25/13 | (1,274,500 | ) | ||||
(1,000 | ) | New York Mercantile Exchange Brent Crude Oil, Strike $90.00, Expiring 11/13/13 | (2,300,000 | ) | ||||
(800 | ) | New York Mercantile Exchange Brent Crude Oil, Strike $95.00, Expiring 11/13/13 | (3,008,000 | ) | ||||
(250 | ) | New York Mercantile Exchange Brent Crude Oil, Strike $100.00, Expiring 11/13/13 | (1,455,000 | ) | ||||
Total Put Options Written
(Premiums received $(14,526,050)) |
$ | (11,755,500 | ) |
59 |
|
Old Westbury Funds, Inc. | |
Real Return Fund | |
Consolidated Portfolio of Investments - (Continued) | April 30, 2013 |
(Unaudited) |
FUTURES CONTRACTS: SHORT POSITIONS | ||||||||
Contracts |
Unrealized
Appreciation/ (Depreciation) |
|||||||
1,000 | London Metal Exchange Nickel, May 2013 | $ | 17,644,500 | |||||
1400 | London Metal Exchange Zinc, May 2013 | 410,775 | ||||||
925 | London Metal Exchange Aluminum, June 2013 | 960,144 | ||||||
190 | London Metal Exchange Copper, June 2013 | 914,688 | ||||||
3,300 | Chicago Board of Trade Soybean, July 2013 | (3,065,200 | ) | |||||
611 | London Metal Exchange Aluminum, July 2013 | 567,619 | ||||||
30 | London Metal Exchange Tin, July 2013 | 121,800 | ||||||
3,000 | New York Mercantile Exchange Natural Gas, October 2013 | (13,796,000 | ) | |||||
Net unrealized appreciation | $ | 3,758,326 |
FUTURES CONTRACTS: LONG POSITIONS | ||||||||
Contracts |
Unrealized
Appreciation/ (Depreciation) |
|||||||
978 | Eurex Mill Wheat, May 2013 | $ | 487,689 | |||||
1,000 | London Metal Exchange Nickel, May 2013 | (9,175,968 | ) | |||||
1,400 | London Metal Exchange Zinc, May 2013 | (11,823,338 | ) | |||||
925 | London Metal Exchange Aluminum, June 2013 | (1,518,055 | ) | |||||
300 | London Metal Exchange Copper, June 2013 | (3,945,613 | ) | |||||
230 | New York Mercantile Exchange Palladium, June 2013 | (1,206,405 | ) | |||||
250 | New York Mercantile Exchange Platts for Chicago Ethanol, June 2013 | 700,875 | ||||||
2,400 | Chicago Board of Trade Corn, July 2013 | (3,319,988 | ) | |||||
3,580 | Intercontinental Exchange Sugar No. 11, July 2013 | (734,085 | ) | |||||
2,300 | Kansas City Board of Trade Wheat, July 2013 | 4,553,613 | ||||||
1,861 | London Metal Exchange Aluminum, July 2013 | (1,469,101 | ) | |||||
60 | London Metal Exchange Tin, July 2013 | (765,540 | ) | |||||
1,000 | Minneapolis Grain Exchange Red Spring Wheat, July 2013 | 988,438 | ||||||
400 | New York Mercantile Exchange Gasoline, July 2013 | (83,580 | ) | |||||
410 | New York Mercantile Exchange Platinum, July 2013 | (1,473,540 | ) | |||||
400 | London Metal Exchange Zinc, August 2013 | (412,200 | ) | |||||
3,300 | Chicago Board of Trade Soybean, November 2013 | 1,940,688 |
FUTURES CONTRACTS: | ||||||||
LONG POSITIONS (Concluded) | ||||||||
Contracts |
Unrealized
Appreciation/ (Depreciation) |
|||||||
1,377 | Intercontinental Exchange Coffee, December 2013 | $ | (2,779,203 | ) | ||||
3,000 | New York Mercantile Exchange Natural Gas, January 2014 | 14,115,250 | ||||||
2060 | Intercontinental Exchange Sugar No. 11, March 2014 | (545,417 | ) | |||||
150 | New York Mercantile Exchange Natural Gas, April 2014 | (22,500 | ) | |||||
150 | New York Mercantile Exchange Natural Gas, May 2014 | (36,000 | ) | |||||
150 | New York Mercantile Exchange Natural Gas, June 2014 | 1,500 | ||||||
150 | New York Mercantile Exchange Natural Gas, July 2014 | 49,500 | ||||||
150 | New York Mercantile Exchange Natural Gas, August 2014 | 75,000 | ||||||
150 | New York Mercantile Exchange Natural Gas, September 2014 | 72,000 | ||||||
150 | New York Mercantile Exchange Natural Gas, October 2014 | 100,500 | ||||||
150 | New York Mercantile Exchange Natural Gas, November 2014 | 199,500 | ||||||
150 | New York Mercantile Exchange Natural Gas, December 2014 | 466,500 | ||||||
1,730 | New York Mercantile Exchange Natural Gas, January 2015(c) | 4,755,500 | ||||||
50 | New York Mercantile Exchange Natural Gas, January 2016(c) | 92,250 | ||||||
50 | New York Mercantile Exchange Natural Gas, February 2016(c) | 80,250 | ||||||
50 | New York Mercantile Exchange Natural Gas, March 2016(c) | 39,250 | ||||||
50 | New York Mercantile Exchange Natural Gas, April 2016(c) | (128,250 | ) | |||||
50 | New York Mercantile Exchange Natural Gas, May 2016(c) | (124,250 | ) | |||||
50 | New York Mercantile Exchange Natural Gas, June 2016(c) | (112,750 | ) | |||||
50 | New York Mercantile Exchange Natural Gas, July 2016(c) | (95,250 | ) | |||||
50 | New York Mercantile Exchange Natural Gas, August 2016 | (86,250 | ) | |||||
50 | New York Mercantile Exchange Natural Gas, September 2016(c) | (84,750 | ) | |||||
50 | New York Mercantile Exchange Natural Gas, October 2016(c) | (69,250 | ) | |||||
50 | New York Mercantile Exchange Natural Gas, November 2016(c) | (24,250 | ) | |||||
50 | New York Mercantile Exchange Natural Gas, December 2016(c) | 70,750 | ||||||
Net unrealized depreciation | $ | (11,246,480 | ) |
60 |
|
Old Westbury Funds, Inc. | |
Real Return Fund | |
Consolidated Portfolio of Investments - (Continued) | April 30, 2013 |
(Unaudited) |
Cash collateral of $63,434,333 for the open futures contracts is reflected in segregated cash for futures contracts in the Statements of Assets and Liabilities. |
Unrealized
Appreciation/ (Depreciation) |
||||
SWAP AGREEMENTS (PURCHASED) | ||||
Commodity Index Swap Agreement with Cargill, Inc. based on the Baltic Capesize Freight Index (“BCI”) paying a fixed amount per day and receiving the arithmetic average of the rates for BCI Routes published by the Baltic Exchange, expiring 01/31/14 (Underlying notional amount $1,053,500)(c) | $ | (313,400 | ) | |
Commodity Index Swap Agreement with Cargill, Inc. based on the Baltic Capesize Freight Index (“BCI”) paying a fixed amount per day and receiving the arithmetic average of the rates for BCI Routes published by the Baltic Exchange, expiring 01/31/15 (Underlying notional amount $948,000)(c) | (80,220 | ) | ||
Commodity Index Swap Agreement with Cargill, Inc. based on the Baltic Capesize Freight Index (“BCI”) paying a fixed amount per day and receiving the arithmetic average of the rates for BCI Routes published by the Baltic Exchange, expiring 02/28/14 (Underlying notional amount $1,053,500)(c) | (313,400 | ) | ||
Commodity Index Swap Agreement with Cargill, Inc. based on the Baltic Capesize Freight Index (“BCI”) paying a fixed amount per day and receiving the arithmetic average of the rates for BCI Routes published by the Baltic Exchange, expiring 02/28/15 (Underlying notional amount $948,000)(c) | (80,220 | ) | ||
Commodity Index Swap Agreement with Cargill, Inc. based on the Baltic Capesize Freight Index (“BCI”) paying a fixed amount per day and receiving the arithmetic average of the rates for BCI Routes published by the Baltic Exchange, expiring 03/31/14 (Underlying notional amount $1,053,500)(c) | (313,400 | ) |
Unrealized
Appreciation/ (Depreciation) |
||||
Commodity Index Swap Agreement with Cargill, Inc. based on the Baltic Capesize Freight Index (“BCI”) paying a fixed amount per day and receiving the arithmetic average of the rates for BCI Routes published by the Baltic Exchange, expiring 03/31/15 (Underlying notional amount $948,000)(c) | $ | (80,220 | ) | |
Commodity Index Swap Agreement with Cargill, Inc. based on the Baltic Capesize Freight Index (“BCI”) paying a fixed amount per day and receiving the arithmetic average of the rates for BCI Routes published by the Baltic Exchange, expiring 04/30/14 (Underlying notional amount $1,053,500)(c) | (313,400 | ) | ||
Commodity Index Swap Agreement with Cargill, Inc. based on the Baltic Capesize Freight Index (“BCI”) paying a fixed amount per day and receiving the arithmetic average of the rates for BCI Routes published by the Baltic Exchange, expiring 04/30/15 (Underlying notional amount $948,000)(c) | (80,220 | ) | ||
Commodity Index Swap Agreement with Cargill, Inc. based on the Baltic Capesize Freight Index (“BCI”) paying a fixed amount per day and receiving the arithmetic average of the rates for BCI Routes published by the Baltic Exchange, expiring 05/31/14 (Underlying notional amount $1,053,500)(c) | (313,400 | ) | ||
Commodity Index Swap Agreement with Cargill, Inc. based on the Baltic Capesize Freight Index (“BCI”) paying a fixed amount per day and receiving the arithmetic average of the rates for BCI Routes published by the Baltic Exchange, expiring 05/31/15 (Underlying notional amount $948,000)(c) | (80,220 | ) | ||
Commodity Index Swap Agreement with Cargill, Inc. based on the Baltic Capesize Freight Index (“BCI”) paying a fixed amount per day and receiving the arithmetic average of the rates for BCI Routes published by the Baltic Exchange, expiring 06/30/14 (Underlying notional amount $1,053,500)(c) | (313,400 | ) |
61 |
|
Old Westbury Funds, Inc. | |
Real Return Fund | |
Consolidated Portfolio of Investments - (Continued) | April 30, 2013 |
(Unaudited) |
Unrealized
Appreciation/ (Depreciation) |
||||
Commodity Index Swap Agreement with Cargill, Inc. based on the Baltic Capesize Freight Index (“BCI”) paying a fixed amount per day and receiving the arithmetic average of the rates for BCI Routes published by the Baltic Exchange, expiring 06/30/15 (Underlying notional amount $948,000)(c) | $ | (80,220 | ) | |
Commodity Index Swap Agreement with Cargill, Inc. based on the Baltic Capesize Freight Index (“BCI”) paying a fixed amount per day and receiving the arithmetic average of the rates for BCI Routes published by the Baltic Exchange, expiring 07/31/14 (Underlying notional amount $1,053,500)(c) | (313,400 | ) | ||
Commodity Index Swap Agreement with Cargill, Inc. based on the Baltic Capesize Freight Index (“BCI”) paying a fixed amount per day and receiving the arithmetic average of the rates for BCI Routes published by the Baltic Exchange, expiring 07/31/15 (Underlying notional amount $948,000)(c) | (80,220 | ) | ||
Commodity Index Swap Agreement with Cargill, Inc. based on the Baltic Capesize Freight Index (“BCI”) paying a fixed amount per day and receiving the arithmetic average of the rates for BCI Routes published by the Baltic Exchange, expiring 08/31/14 (Underlying notional amount $1,053,500)(c) | (313,400 | ) | ||
Commodity Index Swap Agreement with Cargill, Inc. based on the Baltic Capesize Freight Index (“BCI”) paying a fixed amount per day and receiving the arithmetic average of the rates for BCI Routes published by the Baltic Exchange, expiring 08/31/15 (Underlying notional amount $948,000)(c) | (80,220 | ) | ||
Commodity Index Swap Agreement with Cargill, Inc. based on the Baltic Capesize Freight Index (“BCI”) paying a fixed amount per day and receiving the arithmetic average of the rates for BCI Routes published by the Baltic Exchange, expiring 09/30/14 (Underlying notional amount $1,053,500)(c) | (313,400 | ) |
Unrealized
Appreciation/ (Depreciation) |
||||
Commodity Index Swap Agreement with Cargill, Inc. based on the Baltic Capesize Freight Index (“BCI”) paying a fixed amount per day and receiving the arithmetic average of the rates for BCI Routes published by the Baltic Exchange, expiring 09/30/15 (Underlying notional amount $948,000)(c) | $ | (80,220 | ) | |
Commodity Index Swap Agreement with Cargill, Inc. based on the Baltic Capesize Freight Index (“BCI”) paying a fixed amount per day and receiving the arithmetic average of the rates for BCI Routes published by the Baltic Exchange, expiring 10/31/14 (Underlying notional amount $1,053,500)(c) | (313,400 | ) | ||
Commodity Index Swap Agreement with Cargill, Inc. based on the Baltic Capesize Freight Index (“BCI”) paying a fixed amount per day and receiving the arithmetic average of the rates for BCI Routes published by the Baltic Exchange, expiring 10/31/15 (Underlying notional amount $948,000)(c) | (80,220 | ) | ||
Commodity Index Swap Agreement with Cargill, Inc. based on the Baltic Capesize Freight Index (“BCI”) paying a fixed amount per day and receiving the arithmetic average of the rates for BCI Routes published by the Baltic Exchange, expiring 11/30/14 (Underlying notional amount $1,053,500)(c) | (313,400 | ) | ||
Commodity Index Swap Agreement with Cargill, Inc. based on the Baltic Capesize Freight Index (“BCI”) paying a fixed amount per day and receiving the arithmetic average of the rates for BCI Routes published by the Baltic Exchange, expiring 11/30/15 (Underlying notional amount $948,000)(c) | (80,220 | ) | ||
Commodity Index Swap Agreement with Cargill, Inc. based on the Baltic Capesize Freight Index (“BCI”) paying a fixed amount per day and receiving the arithmetic average of the rates for BCI Routes published by the Baltic Exchange, expiring 12/31/14 (Underlying notional amount $1,053,500)(c) | (313,400 | ) |
62 |
|
Old Westbury Funds, Inc. | |
Real Return Fund | |
Consolidated Portfolio of Investments - (Continued) | April 30, 2013 |
(Unaudited) |
Unrealized
Appreciation/ (Depreciation) |
||||
Commodity Index Swap Agreement with Cargill, Inc. based on the Baltic Capesize Freight Index (“BCI”) paying a fixed amount per day and receiving the arithmetic average of the rates for BCI Routes published by the Baltic Exchange, expiring 12/31/15 (Underlying notional amount $948,000)(c) | $ | (80,220 | ) | |
Commodity Index Swap Agreement with Cargill, Inc. based on the Baltic Panamax Freight Index (“BPI”) paying a fixed amount per day and receiving the arithmetic average of the rates for BPI Routes published by the Baltic Exchange, expiring 05/31/13 (Underlying notional amount $1,122,865)(c) | (176,305 | ) | ||
Commodity Index Swap Agreement with Cargill, Inc. based on the Baltic Panamax Freight Index (“BPI”) paying a fixed amount per day and receiving the arithmetic average of the rates for BPI Routes published by the Baltic Exchange, expiring 06/28/13 (Underlying notional amount $1,122,865)(c) | (227,305 | ) | ||
Commodity Index Swap Agreement with Cargill, Inc. based on the Chicago Board of Trade (“CBOT”) Corn Index, paying a fixed amount per bushel and receiving the closing settlement price of CBOT July 2013 Corn Futures contracts on the termination date, expiring 06/25/13 (Underlying notional amount $150,815,942) | (4,565,942 | ) | ||
Commodity Index Swap Agreement with Cargill, Inc. based on the European Climate Exchange (ECX) European Union Allowances Futures (EUA) paying a fixed amount per Metric Ton and receiving the closing settlement price of ECX December 2013 EUA Futures contracts on the termination date, expiring 12/16/13 (Underlying notional amount Euro 27,992,970). | (22,484,256 | ) |
Unrealized
Appreciation/ (Depreciation) |
||||
Commodity Index Swap Agreement with Cargill, Inc. based on the Kansas City Board of Trade (“KCBT”) Wheat Index paying a fixed amount per bushel and receiving the closing settlement price of KCBT July 2013 Wheat Futures contracts on the termination date, expiring 06/25/13 (Underlying notional amount $300,146,683) | $ | 17,271,793 | ||
Commodity Index Swap Agreement with Cargill, Inc. based on the Malaysia Derivatives Exchange (“MDEX”) Palm Oil Index paying a fixed amount per metric ton and receiving the closing settlement price of MDEX July 2013 Palm Oil Futures contracts on the termination date, expiring 06/27/13 (Underlying notional amount MYR 64,516,000) | (542,646 | ) | ||
$ | (15,448,101 | ) |
Unrealized
Appreciation/ (Depreciation) |
||||
SWAP AGREEMENTS (WRITTEN) | ||||
Commodity Index Swap Agreement with Cargill, Inc. based on the Chicago Board of Trade (“CBOT”) Wheat Index receiving a fixed amount per bushel and paying the closing settlement price of CBOT July 2013 Wheat Futures contracts on the termination date, expiring 06/25/13 (Underlying notional amount $284,004,363) | $ | (9,894,187 | ) | |
Commodity Index Swap Agreement with Cargill, Inc. based on the Chicago Board of Trade (“CBOT”) Corn Index, receiving a fixed amount per bushel and paying the closing settlement price of CBOT December 2013 Corn Futures contracts on the termination date, expiring 11/25/13 (Underlying notional amount $27,075,555) | (761,945 | ) |
63 |
|
Old Westbury Funds, Inc. | |
Real Return Fund | |
Consolidated Portfolio of Investments - (Continued) | April 30, 2013 |
(Unaudited) |
Unrealized
Appreciation/ (Depreciation) |
||||
Commodity Index Swap Agreement with Cargill, Inc. based on the European Climate Exchange (ECX) European Union Allowances Futures (EUA) paying a fixed amount per Metric Ton and receiving the closing settlement price of ECX December 2013 EUA Futures contracts on the termination date, expiring 12/16/13 (Underlying notional amount Euro 25,691,203). | $ | 19,452,943 | ||
$ | 8,796,811 |
(a) | Cost for federal income tax purposes is $1,943,151,310 and net unrealized appreciation of investments is as follows: |
Unrealized appreciation | $ | 82,262,371 | ||
Unrealized depreciation | (36,073,287 | ) | ||
Net unrealized appreciation | $ | 46,189,084 |
(b) | Non-income producing security. |
(c) | This security is considered either fully or partially illiquid. These securities, or portions thereof have a value of $110,866,283 or 5.49% of net assets. |
(d) | Variable rate security. Rate shown is the rate as of April 30, 2013. |
(e) | Investment in non-U.S. Dollars. Principal amount reflects |
local currency. | |
(f) | The rate represents the annualized yield at time of purchase. |
(g) | Rate shown represents current yield at April 30, 2013. |
ADR — American Depositary Receipt |
MYR — Malaysian Ringgit |
REIT — Real Estate Investment Trust |
Portfolio diversification by Sector (Unaudited) | ||||
Sector |
Percentage
of Net Assets |
|||
Asset-Backed Securities | 6.1 | % | ||
Collectible Coins | 1.9 | % | ||
Commodities | 4.4 | % | ||
Energy | 11.1 | % | ||
Government Bonds | 13.5 | % | ||
Industrials | 1.2 | % | ||
Materials | 3.1 | % | ||
Real Estate | 2.1 | % | ||
U.S. Government Agencies and Securities | 54.6 | % | ||
Other* | 2.0 | % | ||
100.0 | % |
* | Includes cash and equivalents, options, futures, swap agreements, pending trades and Fund share transactions, interest and dividends receivable, prepaids and accrued expenses payable. |
64 |
|
Old Westbury Funds, Inc. | |
Fixed Income Fund | |
Portfolio of Investments | April 30, 2013 |
(Unaudited) |
Principal
Amount |
Value | |||||||
CORPORATE BONDS — 55.9% | ||||||||
Banks — 17.0% | ||||||||
$ | 3,800,000 | Bank of America Corp., 4.50%, 04/01/15 | $ | 4,030,907 | ||||
3,000,000 | Bank of Montreal, 2.63%, 01/25/16(b) | 3,166,500 | ||||||
540,000 | Bank of New York Mellon Corp. (The) MTN, 4.30%, 05/15/14 | 561,918 | ||||||
12,000,000 | Bank of New York Mellon Corp. (The) MTN, 0.51%, 03/04/16(c) | 11,996,688 | ||||||
1,000,000 | Canadian Imperial Bank of Commerce Canada, 2.60%, 07/02/15(b) | 1,045,500 | ||||||
10,500,000 | Citigroup, Inc., 1.08%, 04/01/16(c) | 10,542,263 | ||||||
5,000,000 | Commonwealth Bank of Australia, 2.70%, 11/25/14(b) | 5,184,000 | ||||||
5,000,000 | Commonwealth Bank of Australia, 3.25%, 03/17/16(b) | 5,345,000 | ||||||
2,000,000 | Commonwealth Bank of Australia, 2.25%, 03/16/17(b) | 2,100,800 | ||||||
2,340,000 | Credit Suisse New York MTN, 3.50%, 03/23/15 | 2,464,488 | ||||||
1,175,000 | Deutsche Bank AG, 3.45%, 03/30/15 | 1,234,690 | ||||||
1,350,000 | Deutsche Bank AG, 3.25%, 01/11/16 | 1,431,932 | ||||||
1,045,000 | European Investment Bank MTN, 1.25%, 02/14/14 | 1,053,182 | ||||||
500,000 | HSBC Bank Plc, 3.10%, 05/24/16(b) | 531,890 | ||||||
12,295,000 | JPMorgan Chase & Co. MTN, 1.41%, 09/22/15(c) | 12,500,105 | ||||||
1,000,000 | JPMorgan Chase & Co. MTN, 1.10%, 10/15/15 | 1,004,083 | ||||||
300,000 | KFW, 3.50%, 03/10/14 | 308,369 | ||||||
6,125,000 | KFW, 1.25%, 02/15/17 | 6,271,908 | ||||||
300,000 | Royal Bank of Canada MTN, 1.15%, 03/13/15 | 303,714 | ||||||
3,000,000 | Standard Chartered Plc, 5.50%, 11/18/14(b) | 3,207,300 | ||||||
5,000,000 | Standard Chartered Plc, 3.85%, 04/27/15(b) | 5,276,950 | ||||||
3,900,000 | Toronto-Dominion Bank (The) - MTN, 0.83%, 04/30/18(c) | 3,911,505 | ||||||
300,000 | Wells Fargo & Co. MTN, 1.25%, 02/13/15 | 303,597 |
Principal
Amount |
Value | |||||||
Banks (continued) | ||||||||
$ | 3,000,000 | Westpac Banking Corp., 2.90%, 09/10/14(b) | $ | 3,104,610 | ||||
86,881,899 | ||||||||
Consumer Discretionary — 3.7% | ||||||||
2,000,000 | Cargill, Inc., 1.90%, 03/01/17(b) | 2,037,280 | ||||||
1,000,000 | Cornell University, 4.35%, 02/01/14 | 1,034,257 | ||||||
200,000 | Dartmouth College, 4.75%, 06/01/19 | 237,264 | ||||||
12,000,000 | NBCUniversal Media LLC, 2.88%, 04/01/16 | 12,694,356 | ||||||
1,000,000 | Snap-On, Inc., 5.85%, 03/01/14 | 1,035,958 | ||||||
2,000,000 | Walt Disney Co. (The) - MTN, 1.10%, 12/01/17 | 2,006,420 | ||||||
19,045,535 | ||||||||
Consumer Staples — 5.6% | ||||||||
13,985,000 | Anheuser-Busch Inbev Finance Inc, 0.80%, 01/15/16 | 14,045,527 | ||||||
1,070,000 | Coca-Cola Co. (The), 1.50%, 11/15/15 | 1,096,328 | ||||||
500,000 | Coca-Cola Co. (The), 1.80%, 09/01/16 | 517,924 | ||||||
500,000 | Heineken NV, 1.40%, 10/01/17(b) | 501,322 | ||||||
5,665,000 | PepsiCo, Inc., 1.25%, 08/13/17 | 5,705,607 | ||||||
2,115,000 | Procter & Gamble Co. (The), 3.50%, 02/15/15 | 2,227,072 | ||||||
1,500,000 | Unilever Capital Corp., 3.65%, 02/15/14 | 1,536,600 | ||||||
580,000 | Wal-Mart Stores, Inc., 3.20%, 05/15/14 | 597,701 | ||||||
2,500,000 | Wal-Mart Stores, Inc., 1.50%, 10/25/15 | 2,562,670 | ||||||
28,790,751 | ||||||||
Diversified Financials — 10.6% | ||||||||
3,520,000 | American Express Credit Corp. MTN, 2.38%, 03/24/17 | 3,696,271 | ||||||
1,000,000 | American Honda Finance Corp., 2.50%, 09/21/15(b) | 1,041,958 | ||||||
1,000,000 | American Honda Finance Corp., 2.13%, 02/28/17(b) | 1,035,691 | ||||||
5,000,000 | Caterpillar Financial Services Corp. MTN, 0.53%, 02/26/16(c) | 5,007,040 | ||||||
4,000,000 | CME Group Index Services LLC, 4.40%, 03/15/18(b) | 4,520,708 |
65 |
|
Old Westbury Funds, Inc. | |
Fixed Income Fund | |
Portfolio of Investments - (Continued) | April 30, 2013 |
(Unaudited) |
Principal
Amount |
Value | |||||||
Diversified Financials (continued) | ||||||||
$ | 3,000,000 | Daimler Finance North America LLC, 2.63%, 09/15/16(b) | $ | 3,129,690 | ||||
1,455,000 | Eksportfinans A/S, 3.00%, 11/17/14 | 1,453,881 | ||||||
2,205,000 | Eksportfinans A/S, 2.00%, 09/15/15 | 2,135,543 | ||||||
210,000 | Eksportfinans A/S, 2.38%, 05/25/16 | 201,599 | ||||||
500,000 | Enel Finance International SA, 3.88%, 10/07/14(b) | 515,580 | ||||||
2,000,000 | FMR LLC, 5.35%, 11/15/21(b) | 2,314,818 | ||||||
1,500,000 | Ford Motor Credit Co. LLC, 4.21%, 04/15/16 | 1,602,017 | ||||||
9,325,000 | General Electric Capital Corp, 2.90%, 01/09/17 | 9,884,714 | ||||||
950,000 | General Electric Capital Corp. MTN, 3.50%, 06/29/15 | 1,004,050 | ||||||
1,400,000 | General Electric Capital Corp. MTN, 2.30%, 04/27/17 | 1,456,503 | ||||||
300,000 | Goldman Sachs Group, Inc. (The), 5.13%, 01/15/15 | 320,639 | ||||||
3,000,000 | Goldman Sachs Group, Inc. (The), 3.30%, 05/03/15 | 3,129,750 | ||||||
3,000,000 | Goldman Sachs Group, Inc. (The), 3.63%, 02/07/16 | 3,194,595 | ||||||
2,500,000 | International Finance Corp., 0.63%, 12/21/17 | 2,486,093 | ||||||
2,555,000 | PNC Funding Corp., 3.00%, 05/19/14 | 2,621,289 | ||||||
300,000 | Toyota Motor Credit Corp. MTN, 1.00%, 02/17/15 | 303,146 | ||||||
1,775,000 | Toyota Motor Credit Corp. MTN, 2.80%, 01/11/16 | 1,875,183 | ||||||
1,000,000 | USAA Capital Corp., 1.05%, 09/30/14(b) | 1,004,741 | ||||||
53,935,499 | ||||||||
Energy — 2.5% | ||||||||
1,700,000 | Occidental Petroleum Corp., 4.13%, 06/01/16 | 1,873,249 | ||||||
5,000,000 | Petroleos Mexicanos, 1.95%, 12/20/22 | 5,143,715 | ||||||
1,000,000 | Schlumberger Investment SA, 1.25%, 08/01/17(b) | 1,005,867 | ||||||
1,000,000 | Schlumberger Norge AS, 1.95%, 09/14/16(b) | 1,036,466 |
Principal
Amount |
Value | |||||||
Energy (continued) | ||||||||
$ | 3,475,000 | Shell International Finance BV, 4.00%, 03/21/14 | $ | 3,587,420 | ||||
12,646,717 | ||||||||
Health Care — 3.0% | ||||||||
820,000 | Celgene Corp., 2.45%, 10/15/15 | 850,506 | ||||||
1,000,000 | CR Bard, Inc., 1.38%, 01/15/18 | 1,002,122 | ||||||
1,000,000 | Express Scripts Holding Co., 2.65%, 02/15/17 | 1,051,263 | ||||||
3,035,000 | Johnson & Johnson, 2.15%, 05/15/16 | 3,181,062 | ||||||
415,000 | McKesson Corp, 0.95%, 12/04/15 | 417,004 | ||||||
500,000 | McKesson Corp., 6.50%, 02/15/14 | 523,497 | ||||||
500,000 | Medco Health Solutions, Inc., 2.75%, 09/15/15 | 520,998 | ||||||
1,690,000 | Novartis Capital Corp., 4.13%, 02/10/14 | 1,737,827 | ||||||
5,000,000 | Takeda Pharmaceutical Co. Ltd., 1.63%, 03/17/17(b) | 5,099,605 | ||||||
1,000,000 | UnitedHealth Group, Inc., 1.40%, 10/15/17 | 1,009,161 | ||||||
15,393,045 | ||||||||
Industrials — 2.9% | ||||||||
3,500,000 | 3M Co. MTN, 1.00%, 06/26/17 | 3,524,486 | ||||||
7,500,000 | ADT Corp. (The), 2.25%, 07/15/17(b) | 7,593,855 | ||||||
3,000,000 | BAE Systems Plc, 3.50%, 10/11/16(b) | 3,168,480 | ||||||
412,975 | Federal Express Corp. 2012 Pass Through Trust, 2.63%, 01/15/18(b) | 417,770 | ||||||
188,000 | Tyco International Finance SA, 3.38%, 10/15/15 | 197,092 | ||||||
14,901,683 | ||||||||
Information Technology — 4.5% | ||||||||
10,000,000 | Apple, Inc., 0.52%, 05/03/18(c) | 10,025,000 | ||||||
3,165,000 | Cisco Systems, Inc., 1.63%, 03/14/14 | 3,202,224 | ||||||
2,150,000 | Fiserv, Inc., 3.13%, 06/15/16 | 2,265,528 | ||||||
1,200,000 | Intel Corp, 1.35%, 12/15/17 | 1,208,164 | ||||||
3,000,000 | International Business Machines Corp, 1.25%, 02/08/18 | 3,040,686 |
66 |
|
Old Westbury Funds, Inc. | |
Fixed Income Fund | |
Portfolio of Investments - (Continued) | April 30, 2013 |
(Unaudited) |
Principal
Amount |
Value | |||||||
Information Technology (continued) | ||||||||
$ | 600,000 | International Business Machines Corp., 1.95%, 07/22/16 | $ | 622,702 | ||||
1,900,000 | National Semiconductor Corp., 6.60%, 06/15/17 | 2,304,216 | ||||||
300,000 | Texas Instruments, Inc., 1.38%, 05/15/14 | 303,383 | ||||||
22,971,903 | ||||||||
Insurance — 2.0% | ||||||||
3,990,000 | Berkshire Hathaway Finance Corp., 2.45%, 12/15/15 | 4,187,629 | ||||||
815,000 | Berkshire Hathaway, Inc., 1.90%, 01/31/17 | 844,061 | ||||||
5,000,000 | New York Life Global Funding, 1.65%, 05/15/17(b) | 5,092,685 | ||||||
10,124,375 | ||||||||
Materials — 2.2% | ||||||||
2,000,000 | Air Products & Chemicals, Inc., 1.20%, 10/15/17 | 2,006,230 | ||||||
630,000 | Airgas, Inc., 2.85%, 10/01/13 | 636,042 | ||||||
630,000 | Airgas, Inc., 4.50%, 09/15/14 | 661,695 | ||||||
1,005,000 | Airgas, Inc., 2.95%, 06/15/16 | 1,058,384 | ||||||
1,500,000 | Anglo American Capital Plc, 2.15%, 09/27/13(b) | 1,507,350 | ||||||
1,250,000 | Dow Chemical Co. (The), 5.90%, 02/15/15 | 1,361,914 | ||||||
2,710,000 | Dow Chemical Co. (The), 2.50%, 02/15/16 | 2,821,441 | ||||||
1,000,000 | International Paper Co., 9.38%, 05/15/19 | 1,385,644 | ||||||
11,438,700 | ||||||||
Telecommunication Services — 0.8% | ||||||||
4,000,000 | America Movil Sab de CV, 2.38%, 09/08/16 | 4,155,328 | ||||||
Utilities — 1.1% | ||||||||
1,575,000 | Dominion Resources, Inc., Series F, 5.25%, 08/01/33 | 1,845,843 | ||||||
1,000,000 | Duke Energy Corp., 1.63%, 08/15/17 | 1,013,994 | ||||||
2,485,000 | NextEra Energy Capital Holdings, Inc., 2.60%, 09/01/15 | 2,572,686 | ||||||
5,432,523 | ||||||||
Total Corporate Bonds
(Cost $278,553,869) |
285,717,958 |
Principal
Amount |
Value | |||||||
ASSET-BACKED SECURITIES — 2.2% | ||||||||
UNITED STATES — 2.2% | ||||||||
$ | 11,850,000 | GCO Education Loan Funding Trust, Series 2006-2A, Class A2AR, 1.51%, 08/27/46(c) | $ | 11,020,500 | ||||
Total Asset-Backed Securities
(Cost $10,521,294) |
11,020,500 | |||||||
MUNICIPAL BONDS — 7.2% | ||||||||
California — 0.9% | ||||||||
3,850,000 | Southern California Public Power Authority Refunding Revenue Bonds, Series B (AGM) 6.93%, 05/15/17 | 4,734,422 | ||||||
District Of Columbia — 0.5% | ||||||||
1,000,000 | District of Columbia Build America Bonds GO 3.64%, 06/01/15 | 1,057,160 | ||||||
1,310,000 | District of Columbia Build America Bonds GO 4.16%, 06/01/16 | 1,435,275 | ||||||
2,492,435 | ||||||||
Georgia — 0.7% | ||||||||
3,085,000 | State of Georgia Taxable School Improvement GO, Series C-3 2.59%, 10/01/17 | 3,316,591 | ||||||
Illinois — 0.5% | ||||||||
2,600,000 | State of Illinois Public Improvements Revenue Bonds 1.56%, 06/15/17 | 2,653,846 | ||||||
Maine — 0.1% | ||||||||
465,000 | State of Maine General Purpose GO, 4.34%, 05/15/13 | 464,999 | ||||||
Maryland — 0.0% | ||||||||
20,000 | State of Maryland Recreational Facilities Improvements COP, Series A 2.52%, 09/01/14 | 20,461 | ||||||
180,000 | State of Maryland Recreational Facility Improvements COP, Series A 2.92%, 09/01/15 | 188,181 | ||||||
208,642 | ||||||||
Michigan — 0.2% | ||||||||
1,095,000 | University of Michigan University and College Improvement Build America Revenue Bonds 1.75%, 04/01/15 | 1,119,605 |
67 |
|
Old Westbury Funds, Inc. | |
Fixed Income Fund | |
Portfolio of Investments - (Continued) | April 30, 2013 |
(Unaudited) |
Principal
Amount |
Value | |||||||
Minnesota — 0.1% | ||||||||
$ | 40,000 | Duluth Independent School District No. 709 Build America Bonds COP (School District Credit) 3.50%, 02/01/15 | $ | 41,640 | ||||
605,000 | Duluth Independent School District No. 709 Build America Bonds COP (School District Credit) 4.00%, 02/01/16 | 646,521 | ||||||
688,161 | ||||||||
New Jersey — 1.3% | ||||||||
1,500,000 | County of Monmouth Build America Bonds GO 3.75%, 11/01/16 | 1,629,435 | ||||||
1,000,000 | Morris County Improvement Authority Renewable Energy Revenue Bonds 1.90%, 06/15/15 | 1,013,070 | ||||||
100,000 | Morris County Improvement Authority Renewable Energy Revenue Bonds 2.27%, 06/15/16 | 102,297 | ||||||
2,050,000 | New Jersey Economic Development Authority Refunding Revenue Bonds 3.50%, 06/15/15 | 2,131,160 | ||||||
1,515,000 | New Jersey Economic Development Authority Refunding Revenue Bonds (State Appropriation) 3.61%, 09/01/14 | 1,568,283 | ||||||
160,000 | New Jersey Economic Development Authority School Improvement Revenue Bonds, Series FF 3.17%, 09/01/14 | 163,666 | ||||||
6,607,911 | ||||||||
New York — 0.8% | ||||||||
2,520,000 | Metropolitan Transportation Authority Highway Toll Build America Revenue Bonds 4.28%, 11/15/16 | 2,736,266 | ||||||
110,000 | New York State Dormitory Authority University & College Improvements Revenue Bonds, Series G 2.83%, 03/15/16 | 116,268 | ||||||
210,000 | New York State Urban Development Corp. State Personal Income Tax Revenue Bonds, Series A-2 5.64%, 12/15/13 | 216,823 |
Principal
Amount |
Value | |||||||
New York (continued) | ||||||||
$ | 1,075,000 | New York State Urban Development Corp. State Personal Income Tax Revenue Bonds, Series A-2 (AGM) 4.65%, 12/15/13 | $ | 1,102,843 | ||||
4,172,200 | ||||||||
Ohio — 0.5% | ||||||||
2,115,000 | Ohio State Build America Revenue Bonds, Series 2 3.64%, 06/15/16 | 2,269,881 | ||||||
Oregon — 0.1% | ||||||||
500,000 | State of Oregon University and College Improvements GO, Series B 2.22%, 08/01/13 | 501,780 | ||||||
South Carolina — 0.3% | ||||||||
1,050,000 | State of South Carolina Refunding GO, Series A 5.00%, 06/01/17 | 1,235,367 | ||||||
Washington — 1.2% | ||||||||
6,000,000 | Energy Northwest Nuclear Power Plants Revenue Bonds, Series E 2.15%, 07/01/18 | 6,237,660 | ||||||
Total Municipal Bonds
(Cost $35,198,760) |
36,703,500 | |||||||
COLLATERALIZED MORTGAGE OBLIGATIONS — 1.1% | ||||||||
$ | 1,431,978 | Freddie Mac Mortgage-Linked Amortizing Notes, 2.06%, 01/15/22 | 1,463,153 | |||||
$ | 3,926,070 | JPMorgan Tax Exempt Pass Through Trust, Series 2012-AMT1, Class A, 3.00%, 01/27/38(b) | 4,058,408 | |||||
Total Collateralized Mortgage Obligations
(Cost $5,454,215) |
5,521,561 | |||||||
U.S. GOVERNMENT AGENCIES — 6.8% | ||||||||
Fannie Mae — 1.0% | ||||||||
1,765,000 | 5.00%, 03/02/15 | 1,918,124 | ||||||
2,705,000 | 5.00%, 04/15/15 | 2,954,101 | ||||||
200,000 | 1.63%, 10/26/15 | 206,265 | ||||||
4,617 | 7.50%, 08/01/25 | 5,494 | ||||||
5,083,984 |
68 |
|
Old Westbury Funds, Inc. | |
Fixed Income Fund | |
Portfolio of Investments - (Continued) | April 30, 2013 |
(Unaudited) |
Principal
Amount |
Value | |||||||
Tennessee Valley Authority (continued) | ||||||||
$ | 725,000 | 6.25%, 12/15/17 | $ | 901,195 | ||||
1,012,413 | ||||||||
Total U.S. Government Agencies
(Cost $32,290,608) |
34,877,545 | |||||||
U.S. GOVERNMENT SECURITIES — 21.8% | ||||||||
U.S. Treasury Bills — 3.5% | ||||||||
18,200,000 | 0.13%, 03/06/14(d) | 18,184,384 | ||||||
U.S. Treasury Notes — 18.3% | ||||||||
1,175,000 | 0.25%, 01/31/15 | 1,176,148 | ||||||
10,241,000 | 0.25%, 02/28/15 | 10,248,998 | ||||||
640,000 | 0.38%, 01/15/16 | 641,450 | ||||||
54,180,000 | 7.25%, 08/15/22 | 81,341,951 | ||||||
Total U.S. Government Securities
(Cost $110,301,499) |
111,592,931 | |||||||
GOVERNMENT BONDS — 2.5% | ||||||||
AUSTRALIA — 0.2% | ||||||||
1,000,000 | Australia & New Zealand Banking Group Ltd, 0.90%, 02/12/16 | 1,004,440 | ||||||
CANADA — 0.8% | ||||||||
500,000 | Canada Government International Bond, 0.88%, 02/14/17 | 505,850 | ||||||
430,000 | Hydro Quebec, 2.00%, 06/30/16 | 447,415 | ||||||
230,000 | Province of Ontario Canada, 2.70%, 06/16/15 | 240,850 | ||||||
2,875,000 | Province of Ontario Canada, 2.30%, 05/10/16 | 3,019,325 | ||||||
4,213,440 | ||||||||
EGYPT — 0.2% | ||||||||
1,000,000 | Egypt Government Aid Bonds, 4.45%, 09/15/15 | 1,095,025 | ||||||
FRANCE — 0.2% | ||||||||
1,000,000 | Societe Financement de L’economie Francaise, 2.88%, 09/22/14(b) | 1,034,860 | ||||||
GERMANY — 0.2% | ||||||||
1,000,000 | Norddeutsche Landesbank Girozentrale, 0.88%, 10/16/15(b) | 1,004,400 | ||||||
JAPAN — 0.4% | ||||||||
2,000,000 | Development Bank of Japan, 1.63%, 10/05/16(b) | 2,066,364 | ||||||
SOUTH KOREA — 0.4% | ||||||||
500,000 | Export-Import Bank of Korea, 1.25%, 11/20/15 | 497,371 |
69 |
|
Old Westbury Funds, Inc. | |
Fixed Income Fund | |
Portfolio of Investments - (Continued) | April 30, 2013 |
(Unaudited) |
Principal
Amount |
Value | |||||||
SOUTH KOREA (continued) | ||||||||
$ | 1,400,000 | Export-Import Bank of Korea, 4.00%, 01/11/17 | $ | 1,523,649 | ||||
2,021,020 | ||||||||
UNITED KINGDOM — 0.1% | ||||||||
500,000 Bank of England, 1.38%, 03/07/14(b) | 504,935 | |||||||
Total Government Bonds
(Cost $12,477,429) |
12,944,484 |
Shares | ||||||||
INVESTMENT COMPANY — 3.7% | ||||||||
18,710,000 | SEI Daily Income Trust Government II Fund, Class A, 0.00%(e) | 18,710,000 | ||||||
Total Investment Company
(Cost $18,710,000) |
18,710,000 | |||||||
TOTAL INVESTMENTS —
101.2%
(Cost $503,507,674)(a) |
$ | 517,088,479 | ||||||
LIABILITIES IN EXCESS OF OTHER ASSETS — (1.2)% | (6,223,952 | ) | ||||||
NET ASSETS — 100.0% | $ | 510,864,527 |
(a) | Cost for federal income tax purposes is $503,507,674 and net unrealized appreciation of investments is as follows: |
Unrealized appreciation | $ | 13,670,963 | ||
Unrealized depreciation | (90,158 | ) | ||
Net unrealized appreciation | $ | 13,580,805 |
(b) | 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. The aggregate value of these securities is $78,655,383 which is 15.4% of net assets. |
(c) | Variable rate security. Rate shown is the rate as of April 30, 2013. |
(d) | The rate represents the annualized yield at time of purchase. |
(e) | Rate shown represents current yield at April 30, 2013. |
AGM — Assured Guaranty Municipal Corp. | |
COP — Certificates of Participation | |
GO — General Obligations | |
MTN — Medium Term Note |
Portfolio diversification by Sector (Unaudited)
Sector |
Percentage
of Net Assets |
|||
U.S. Government Agencies and Securities | 28.6 | % | ||
Corporate Bonds | 55.9 | |||
Municipal Bonds | 7.2 | |||
Government Bonds | 2.5 | |||
Asset Backed Securities | 2.2 | |||
Collateralized Mortgage Obligations | 1.1 | |||
Other* | 2.5 | |||
100.0 | % |
* | Includes cash and equivalents, investment company, pending trades and Fund share transactions, interest and dividends receivable, prepaids and accrued expenses payable. |
70 |
|
Old Westbury Funds, Inc. | |
Municipal Bond Fund | |
Portfolio of Investments | April 30, 2013 |
(Unaudited) |
Principal
Amount |
Value | |||||||
MUNICIPAL BONDS — 98.6% | ||||||||
Alabama — 0.5% | ||||||||
$ | 5,000,000 |
Alabama Federal Aid Highway Finance Authority Revenue Bonds,
5.00%, 09/01/20 |
$ | 6,120,600 | ||||
Arizona — 0.9% | ||||||||
2,000,000 |
Arizona Department of Transportation State Highway Fund Refunding Revenue Bonds, Sub-series A,
5.00%, 07/01/21 |
2,513,040 | ||||||
350,000 |
Arizona State Board of Regents Revenue Bonds, Series 2008-C, OID,
5.88%, 07/01/24 |
419,985 | ||||||
2,360,000 |
Arizona State Board of Regents Revenue Bonds, Series C,
5.00%, 07/01/17 |
2,761,672 | ||||||
800,000 |
Arizona State Transportation Board Grant Anticipation Refunding Revenue Bonds, Series A,
5.00%, 07/01/14 |
843,064 | ||||||
200,000 |
Maricopa County Community College District GO, Series C,
5.00%, 07/01/20 |
243,145 | ||||||
2,875,000 |
Phoenix Civic Improvement Corp. Refunding Revenue Bonds,
5.00%, 07/01/20 |
3,546,974 | ||||||
10,327,880 | ||||||||
California — 3.6% | ||||||||
1,700,000 |
California State University System Wide Refunding Revenue Bonds, Series A,
5.00%, 11/01/19 |
2,088,144 | ||||||
5,900,000 |
City of Los Angeles Solid Waste Resources Revenue Bonds, Series A,
5.00%, 02/01/20 |
7,108,084 | ||||||
1,250,000 |
Golden State Tobacco Securitization Corp. Enhanced Asset-Backed Revenue Bonds, Series B, OID,
5.63%, 06/01/13(b) |
1,255,325 | ||||||
1,495,000 |
Golden State Tobacco Securitization Corp. Enhanced-Asset Backed Revenue Bonds, Series 2003 A1, OID,
6.75%, 06/01/13(b) |
1,502,798 |
Principal
Amount |
Value | |||||||
California (continued) | ||||||||
$ | 2,720,000 |
Golden State Tobacco Securitization Corp. Enhanced-Asset Backed Revenue Bonds, Series B, OID,
5.50%, 06/01/13(b) |
$ | 2,731,654 | ||||
720,000 |
Golden State Tobacco Securitization Corp. Enhanced-Asset Backed Revenue Bonds, Series B, OID,
5.50%, 06/01/13(b) |
722,867 | ||||||
3,450,000 |
Golden State Tobacco Securitization Corp. Enhanced-Asset Backed Revenue Bonds, Series B, OID,
5.63%, 06/01/13(b)(c) |
3,462,297 | ||||||
305,000 |
Golden State Tobacco Securitization Corp. Enhanced-Asset Backed Revenue Bonds, Series B, OID, (AMBAC),
5.00%, 06/01/13(b)(c) |
305,732 | ||||||
220,000 |
Golden State Tobacco Securitization Corp. Enhanced-Asset Backed Revenue Bonds, Series B, OID, (AMBAC),
5.00%, 06/01/13(b) |
220,700 | ||||||
5,000,000 |
Golden State Tobacco Securitization Corp. Enhanced-Asset Backed Revenue Bonds, Series B, OID, (XLCA-ICR),
5.50%, 06/01/13(b) |
5,018,546 | ||||||
100,000 |
Huntington Beach Public Financing Authority Refunding Revenue Bonds,
4.00%, 09/01/18 |
113,137 | ||||||
1,035,000 |
Los Rios Community College District 2002 Election GO, Series D,
5.25%, 08/01/23 |
1,246,337 | ||||||
4,985,000 | Southern California Public Power Authority Magnolia Power Project Refunding Revenue Bonds, (Wells Fargo Bank), 0.21%, 07/01/36(d) | 4,985,000 | ||||||
10,000,000 |
State of California Refunding GO, Series A, (State GTY),
5.00%, 07/01/22 |
11,171,800 |
71 |
|
Old Westbury Funds, Inc. | |
Municipal Bond Fund | |
Portfolio of Investments - (Continued) | April 30, 2013 |
(Unaudited) |
Principal
Amount |
Value | |||||||
California (continued) | ||||||||
$ | 2,120,000 |
University of California Regents Medical Center Refunding Revenue Bonds, Series G,
4.00%, 05/15/14 |
$ | 2,196,596 | ||||
44,129,017 | ||||||||
Colorado — 0.7% | ||||||||
450,000 |
Denver City & County School District No 1 Refunding GO, Series C (State Aid Withholding),
5.00%, 12/01/23 |
576,149 | ||||||
1,200,000 |
Douglas County School District No Re-1 Douglas & Elbert Counties Refunding GO, Series B (AGM, State Aid Withholding),
5.00%, 12/15/14 |
1,291,296 | ||||||
2,000,000 |
El Paso County School District No 38 Lewis-Palmer Refunding GO (State Aid Withholding),
4.00%, 12/01/17 |
2,286,140 | ||||||
1,180,000 |
Jefferson County School District GO, Series R-1, (State Aid Withholding),
5.00%, 12/15/22 |
1,497,727 | ||||||
1,000,000 |
Jefferson County School District GO, Series R-1, (State Aid Withholding),
5.00%, 12/15/23 |
1,257,260 | ||||||
1,800,000 |
University of Colorado Refunding Revenue Bonds, Series A (NATL-RE),
4.50%, 06/01/21 |
2,031,858 | ||||||
8,940,430 | ||||||||
Connecticut — 2.0% | ||||||||
2,000,000 |
Connecticut State Health & Educational Facility Authority Refunding Revenue Bonds, Series A-3,
0.88%, 07/01/49(c)(d) |
1,996,740 | ||||||
4,700,000 |
Connecticut State Health & Educational Facility Authority Revenue Bonds, Series A-4,
2.50%, 07/01/49(d) |
4,879,493 | ||||||
8,800,000 |
Connecticut State Health & Educational Facility Authority Revenue Bonds, Series T-2,
0.21%, 07/01/29(d) |
8,800,000 | ||||||
8,290,000 |
State of Connecticut Special Tax Refunding Revenue Bonds,
2.00%, 11/01/13 |
8,363,698 |
Principal
Amount |
Value | |||||||
Connecticut (continued) | ||||||||
$ | 750,000 |
University of Connecticut Revenue Bonds, Series A (GO of University),
5.00%, 01/15/14 |
$ | 774,953 | ||||
24,814,884 | ||||||||
Delaware — 0.3% | ||||||||
3,785,000 |
Delaware Transportation Authority Refunding Revenue Bonds, Series A,
5.00%, 07/01/13 |
3,814,334 | ||||||
District Of Columbia — 0.8% | ||||||||
5,000,000 |
District of Columbia Public Improvement Revenue Bonds, Series C,
5.00%, 12/01/19 |
6,183,950 | ||||||
2,250,000 |
District of Columbia Refunding Revenue Bonds, Series A,
5.00%, 12/01/20 |
2,808,405 | ||||||
1,000,000 |
District of Columbia Water & Sewer Authority Revenue Bonds, Series A,
4.00%, 10/01/13 |
1,015,520 | ||||||
10,007,875 | ||||||||
Florida — 4.7% | ||||||||
475,000 |
Florida State Board of Education Capital Outlay GO, Series E,
4.00%, 06/01/13 |
476,505 | ||||||
3,000,000 |
Florida State Board of Education Capital Outlay GO, Series E,
4.60%, 06/01/23 |
3,254,790 | ||||||
800,000 |
Florida State Board of Education Lottery Refunding Revenue Bonds, Series A,
5.00%, 07/01/18 |
958,336 | ||||||
6,000,000 |
Florida State Board of Education Lottery Refunding Revenue Bonds, Series D,
5.00%, 07/01/14 |
6,325,860 | ||||||
1,125,000 |
Florida State Board of Education Lottery Revenue Bonds, Series A (AMBAC),
5.00%, 07/01/13 |
1,133,640 | ||||||
8,575,000 |
Florida State Board of Education Lottery Revenue Bonds, Series A, OID,
5.50%, 07/01/27 |
10,102,979 | ||||||
2,240,000 |
Florida State Board of Education Lottery Revenue Bonds, Series B, (NATL-RE),
5.00%, 07/01/13 |
2,257,203 | ||||||
4,165,000 |
Florida State Board of Governors Refunding Revenue Bonds, Series A,
5.00%, 07/01/16 |
4,728,108 |
72 |
|
Old Westbury Funds, Inc. | |
Municipal Bond Fund | |
Portfolio of Investments - (Continued) | April 30, 2013 |
(Unaudited) |
Principal
Amount |
Value | |||||||
Florida (continued) | ||||||||
$ | 250,000 |
Hillsborough County Community Investment Tax Revenue Bonds, (AMBAC),
5.00%, 11/01/13 |
$ | 255,498 | ||||
1,065,000 |
Hillsborough County Community Investment Tax Revenue Bonds, (AMBAC),
5.00%, 11/01/16 |
1,208,573 | ||||||
11,700,000 |
JEA Florida Water & Sewer System Refunding Revenue Bonds, Sub-Series B-1,
0.22%, 10/01/36(d) |
11,700,000 | ||||||
450,000 |
Miami-Dade County Water & Sewer Refunding Revenue Bonds, (XLCA),
5.00%, 10/01/18 |
531,752 | ||||||
2,000,000 |
Miami-Dade County Water & Sewer Refunding Revenue Bonds, (XLCA),
5.00%, 10/01/19 |
2,350,980 | ||||||
1,800,000 |
Miami-Dade County Water & Sewer Refunding Revenue Bonds, Series B, (AGM),
5.25%, 10/01/16 |
2,080,854 | ||||||
2,000,000 |
Orlando Utilities Commission Refunding Revenue Bonds, Series A,
5.00%, 10/01/20 |
2,498,760 | ||||||
1,000,000 |
Palm Beach County Refunding Revenue Bonds,
5.00%, 08/01/17 |
1,058,590 | ||||||
500,000 |
Palm Beach County Revenue Bonds, Series 2, OID,
5.25%, 11/01/25 |
602,635 | ||||||
6,010,000 |
Palm Beach County School District Refunding COP, Series E (AMBAC),
5.38%, 08/01/13 |
6,083,983 | ||||||
57,609,046 | ||||||||
Georgia — 2.8% | ||||||||
10,000,000 |
Bartow County School District School Improvement GO, Series A, (State Aid Withholding),
4.00%, 10/01/15 |
10,817,600 | ||||||
700,000 |
County of Forsyth Refunding GO,
5.25%, 03/01/14(b) |
735,791 | ||||||
1,000,000 |
County of Fulton Water & Sewer Refunding Revenue Bonds,
5.00%, 01/01/18 |
1,178,210 | ||||||
1,250,000 |
Georgia State Road & Tollway Authority Federal Highway Grant Antic Buildings Revenue Bonds, Series A,
5.00%, 06/01/18 |
1,483,300 |
Principal
Amount |
Value | |||||||
Georgia (continued) | ||||||||
$ | 5,000,000 |
Georgia State Road & Tollway Authority Highway Improvement Revenue Bonds, Series A,
5.00%, 06/01/20 |
$ | 6,032,250 | ||||
2,185,000 |
Georgia State Road & Tollway Authority Refunding Revenue Bonds, Series B, (State GTY),
5.00%, 10/01/19 |
2,721,811 | ||||||
525,000 |
Gwinnett County Development Authority Refunding COP, Gwinnett Development Schools Project, (NATL-RE),
5.00%, 01/01/15 |
561,577 | ||||||
630,000 |
Gwinnett County Development Authority Refunding COP, Gwinnett Development Schools Project, (NATL-RE),
5.25%, 01/01/17 |
724,538 | ||||||
2,500,000 |
Private Colleges & Universities Authority Refunding Revenue Bonds, Series B-2,
0.21%, 09/01/35(d) |
2,500,000 | ||||||
1,925,000 |
State of Georgia Refunding GO, Series E-2,
4.00%, 09/01/18 |
2,245,647 | ||||||
2,860,000 |
State of Georgia Refunding GO, Series E-2,
4.00%, 09/01/19 |
3,382,865 | ||||||
1,500,000 |
State of Georgia School Improvement GO, Series B,
5.00%, 01/01/18 |
1,795,275 | ||||||
34,178,864 | ||||||||
Hawaii — 0.9% | ||||||||
8,000,000 |
City & County of Honolulu Public Improvements Refunding GO, Series B,
5.00%, 11/01/19 |
9,876,960 | ||||||
1,000,000 |
City & County of Honolulu Public Improvements Refunding GO, Series B (AGM),
5.50%, 07/01/13 |
1,008,620 | ||||||
400,000 |
State of Hawaii Refunding GO, Series DY,
5.00%, 02/01/18 |
477,023 | ||||||
11,362,603 | ||||||||
Idaho — 0.2% | ||||||||
1,500,000 |
Idaho Board Bank Authority Refunding Revenue Bonds, Series D,
5.00%, 09/15/23 |
1,884,060 |
73 |
|
Old Westbury Funds, Inc. | |
Municipal Bond Fund | |
Portfolio of Investments - (Continued) | April 30, 2013 |
(Unaudited) |
Principal
Amount |
Value | |||||||
Illinois — 2.0% | ||||||||
$ | 3,540,000 |
Chicago Park District Refunding GO, Series C, (AMBAC),
5.00%, 01/01/23 |
$ | 3,722,062 | ||||
900,000 |
Chicago Transit Authority Federal Transit Revenue Bonds, (AMBAC),
5.00%, 06/01/21 |
1,004,319 | ||||||
1,345,000 |
City of Champaign Parking Facilities Improvements GO, Series 2008,
5.00%, 12/15/17 |
1,544,410 | ||||||
375,000 |
City of Chicago Refunding GO, OID, Series B (AMBAC),
5.13%, 01/01/15 |
397,785 | ||||||
125,000 |
City of Chicago Refunding GO, OID, Series B (AMBAC),
5.13%, 01/01/15(b) |
128,989 | ||||||
1,000,000 |
Cook County Community College District No. 524 Moraine Valley GO, Series B, (NATL-RE),
5.00%, 12/01/25 |
1,195,880 | ||||||
9,800,000 |
Illinois Finance Authority University & College Improvement Revenue Bonds, Series B,
0.22%, 07/01/33(d) |
9,800,000 | ||||||
3,500,000 |
State of Illinois Public Improvement Refunding Revenue Bonds,
5.00%, 06/15/18 |
4,198,530 | ||||||
780,000 |
University of Illinois College Improvement Refunding Revenue Bonds, Series A,
5.00%, 04/01/21 |
946,600 | ||||||
945,000 |
University of Illinois College Improvement Refunding Revenue Bonds, Series A,
5.00%, 04/01/22 |
1,133,868 | ||||||
24,072,443 | ||||||||
Indiana — 1.8% | ||||||||
580,000 |
Anderson School Building Corp., First Mortgage Refunding Revenue Bonds, (AGM, State Aid Withholding),
5.00%, 01/15/16 |
637,072 | ||||||
1,050,000 |
Avon Community School Building Corp., First Mortgage Refunding and Improvement Revenue Bonds, (AMBAC, State Aid Withholding),
5.00%, 07/15/16 |
1,193,693 |
Principal
Amount |
Value | |||||||
Indiana (continued) | ||||||||
$ | 650,000 |
Avon Community School Building Corp., First Mortgage Refunding and Improvement Revenue Bonds, (AMBAC, State Aid Withholding),
5.00%, 01/15/17 |
$ | 747,013 | ||||
650,000 |
Decatur Township Marion County Multi-School Building Corp., First Mortgage Revenue Bonds, Series B, (AGM, State Aid Withholding),
5.00%, 07/15/18 |
728,078 | ||||||
490,000 |
East Noble Facilities School Building Corp., First Mortgage Refunding Revenue Bonds, (NATL-RE, State Aid Withholding),
5.00%, 07/15/16 |
545,654 | ||||||
510,000 |
Evansville Vanderburgh Public Library Leasing Corp., First Mortgage Refunding Revenue Bonds, (AMBAC),
5.25%, 07/15/17 |
565,075 | ||||||
1,070,000 |
Griffith Multi-School Building Corp., First Mortgage Refunding Revenue Bonds, (AGM, State Aid Withholding),
5.00%, 01/15/22 |
1,154,113 | ||||||
905,000 |
Hammond School Building Corp., First Mortgage Revenue Bonds, (NATL-RE),
5.00%, 07/15/23 |
958,739 | ||||||
1,400,000 |
Perry Township Multi School Building Corp. First Mortgage Refunding Revenue Bonds, (State Aid Withholding),
5.00%, 01/10/21 |
1,697,808 | ||||||
500,000 |
Plainfield Elementary School Building Corp., First Mortgage Refunding Revenue Bonds, (NATL-RE, School Board Resolution Funding),
5.00%, 07/15/18 |
544,959 | ||||||
715,000 |
Portage Township Multi-School Building Corp., First Mortgage Refunding Revenue Bonds, (NATL-RE, School Board Resolution Funding),
5.00%, 01/15/16 |
799,127 | ||||||
735,000 |
Portage Township Multi-School Building Corp., First Mortgage Refunding Revenue Bonds, (NATL-RE, School Board Resolution Funding),
5.00%, 07/15/16 |
837,341 |
74 |
|
Old Westbury Funds, Inc. | |
Municipal Bond Fund | |
Portfolio of Investments - (Continued) | April 30, 2013 |
(Unaudited) |
Principal
Amount |
Value | |||||||
Indiana (continued) | ||||||||
$ | 570,000 |
Portage Township Multi-School Building Corp., First Mortgage Refunding Revenue Bonds, (NATL-RE, School Board Resolution Funding),
5.00%, 07/15/17 |
$ | 671,004 | ||||
700,000 |
Purdue University Refunding Revenue Bonds, Series A,
5.00%, 07/01/23 |
860,937 | ||||||
2,585,000 |
Purdue University Student Fee Refunding Revenue Bonds, Series Z-1,
5.00%, 07/01/14 |
2,726,942 | ||||||
3,000,000 |
Purdue University Student Fee Refunding Revenue Bonds, Series Z-1,
5.00%, 07/01/15 |
3,298,680 | ||||||
700,000 |
Tippecanoe County Middle School Building Corp. First Mortgage Refunding Revenue Bonds, (State Aid Withholding),
4.00%, 01/15/14 |
717,493 | ||||||
1,000,000 |
Tippecanoe County Middle School Building Corp. First Mortgage Refunding Revenue Bonds, (State Aid Withholding),
4.00%, 01/15/15 |
1,048,870 | ||||||
765,000 |
Vigo County School Building Corp., First Mortgage Refunding Revenue Bonds, (AGM, State Aid Withholding),
5.00%, 01/10/16 |
848,048 | ||||||
1,000,000 |
Warsaw Multi-School Building Corp. Revenue Bonds, Series B (State Aid Withholding),
5.75%, 07/15/26 |
1,134,680 | ||||||
175,000 |
Wayne Township School Building Corp., Marion County First Mortgage Revenue Bonds, (NATL-RE, School Board Resolution Funding),
5.00%, 01/15/15 |
185,971 | ||||||
21,901,297 | ||||||||
Iowa — 0.2% | ||||||||
2,000,000 |
Iowa Finance Authority Water Utilities Improvements Revenue Bonds,
5.00%, 08/01/20 |
2,485,000 |
Principal
Amount |
Value | |||||||
Kansas — 0.5% | ||||||||
$ | 5,700,000 |
Kansas State Department of Transportation Refunding Revenue Bonds, Series C-3,
0.20%, 09/01/19(d) |
$ | 5,700,000 | ||||
Kentucky — 0.1% | ||||||||
1,000,000 |
Kentucky State Property & Buildings Commission Revenue Bonds, Project No. 88, (NATL-RE, FGIC),
5.00%, 11/01/15 |
1,109,300 | ||||||
Louisiana — 0.4% | ||||||||
2,000,000 |
Louisiana Public Facilities Authority Hurricane Recovery Program Revenue Bonds, (AMBAC),
5.00%, 06/01/16 |
2,197,060 | ||||||
2,300,000 |
State of Louisiana Gasoline & Fuels Tax Refunding Revenue Bonds, Series A-1,
5.00%, 05/01/20 |
2,856,784 | ||||||
5,053,844 | ||||||||
Maine — 0.2% | ||||||||
115,000 |
Maine Health & Higher Educational Facilities Authority Refunding Revenue Bonds, Series B, (AMBAC, State Resolution Funding GTY),
5.00%, 07/01/21(b) |
131,209 | ||||||
1,800,000 |
Maine Health & Higher Educational Facilities Authority University & College Improvements Revenue Bonds, Series A,
5.00%, 07/01/16 |
1,990,818 | ||||||
2,122,027 | ||||||||
Maryland — 1.8% | ||||||||
1,300,000 |
State of Maryland Public Improvements GO, Series A,
5.00%, 08/01/17 |
1,538,147 | ||||||
1,000,000 |
State of Maryland Public Improvements GO, Series A,
5.00%, 08/01/17 |
1,183,190 | ||||||
4,350,000 |
State of Maryland Public Improvements GO, Series A,
5.00%, 03/15/19 |
5,355,720 | ||||||
8,000,000 |
State of Maryland Refunding GO, Series C,
4.00%, 11/01/19 |
9,472,320 | ||||||
2,960,000 |
State of Maryland Refunding GO, Series C,
5.00%, 11/01/20 |
3,746,916 | ||||||
21,296,293 |
75 |
|
Old Westbury Funds, Inc. | |
Municipal Bond Fund | |
Portfolio of Investments - (Continued) | April 30, 2013 |
(Unaudited) |
Principal
Amount |
Value | |||||||
Massachusetts — 5.7% | ||||||||
$ | 3,600,000 |
Berkshire Regional Transit Authority Cash Flow Management Revenue Notes,
1.00%, 09/27/13 |
$ | 3,608,136 | ||||
700,000 |
City of Springfield Recreational Facilities Improvements GO (NATL-RE, School Board Resolution Funding),
5.25%, 08/01/14 |
742,644 | ||||||
2,500,000 |
Commonwealth of Massachusetts Refunding GO, Series B,
3.00%, 01/01/14 |
2,546,400 | ||||||
1,050,000 |
Commonwealth of Massachusetts Refunding GO, Series C,
0.21%, 01/01/21(d) |
1,050,000 | ||||||
6,000,000 |
Commonwealth of Massachusetts Special Obligation Federal Highway Grant Refunding Revenue Bonds,
5.00%, 12/15/13 |
6,178,140 | ||||||
2,000,000 |
Greater Attleboro-Taunton Regional Transit Authority Cash Flow Management Revenue Notes,
1.25%, 08/16/13 |
2,004,040 | ||||||
4,000,000 |
Massachusetts Bay Transportation Authority Refunding Revenue Bonds, Series A,
5.00%, 07/01/23 |
5,115,280 | ||||||
10,000,000 |
Massachusetts Department of Transportation Contract Assistance Refunding Revenue Bonds, Series A7, (State Gty),
0.22%, 01/01/29(d) |
10,000,000 | ||||||
7,780,000 |
Massachusetts State Water Pollution Abatement Trust Refunding Revenue Bonds, Sub-Series 16-B,
5.00%, 08/01/20 |
9,794,553 | ||||||
500,000 |
Massachusetts Water Pollution Abatement Trust, Refunding Revenue Bonds, Series A,
5.25%, 08/01/13 |
506,205 | ||||||
1,100,000 |
Massachusetts Water Pollution Abatement Trust, Refunding Revenue Bonds, Series A,
5.25%, 08/01/14 |
1,168,431 | ||||||
3,000,000 |
Massachusetts Water Resources Authority Refunding Revenue Bonds, Series A,
5.00%, 08/01/22 |
3,831,720 |
Principal
Amount |
Value | |||||||
Massachusetts (continued) | ||||||||
$ | 7,000,000 |
Massachusetts Water Resources Authority Refunding Revenue Bonds, Series C, (GO of Authority),
5.00%, 08/01/23 |
$ | 8,702,890 | ||||
705,000 |
Massachusetts Water Resources Authority Refunding Revenue Bonds, Series E, (GO of Authority),
0.23%, 08/01/37(d) |
705,000 | ||||||
295,000 |
Massachusetts Water Resources Authority Revenue Bonds, Series B, (GO of Authority),
5.00%, 08/01/21 |
372,175 | ||||||
5,000,000 |
Montachusett Regional Transit Authority Cash Flow Management Revenue Notes,
1.25%, 08/09/13 |
5,009,850 | ||||||
7,500,000 |
Southeastern Regional Transit Authority Cash Flow Management Revenue Notes,
1.25%, 08/30/13 |
7,518,450 | ||||||
68,853,914 | ||||||||
Michigan — 1.9% | ||||||||
345,000 |
Clintondale Community Schools Refunding GO, (NATL-RE, Q-SBLF),
5.00%, 05/01/20 |
369,981 | ||||||
635,000 |
Dexter Community Schools Refunding GO (Q-SBLF),
4.00%, 05/01/18 |
711,441 | ||||||
400,000 |
Hudsonville Public Schools Improvements GO, (Q-SBLF),
5.00%, 05/01/18 |
468,175 | ||||||
550,000 |
Hudsonville Public Schools Improvements GO, (Q-SBLF),
5.00%, 05/01/19 |
656,134 | ||||||
125,000 |
Jackson Public Schools Refunding GO, (AGM Q-SBLF),
5.00%, 05/01/15 |
130,906 | ||||||
25,000 |
Jackson Public Schools Refunding GO, (AGM, Q-SBLF),
5.00%, 05/01/15(b) |
26,181 | ||||||
1,125,000 |
Michigan State Building Authority Refunding Revenue Bonds, Series I-A,
5.00%, 10/15/13 |
1,149,176 | ||||||
1,335,000 |
Michigan State Building Authority Refunding Revenue Bonds, Series I-A,
5.00%, 10/15/15 |
1,474,881 | ||||||
1,375,000 |
Northville Public Schools Refunding GO, (Q-SBLF),
5.00%, 05/01/18 |
1,601,421 |
76 |
|
Old Westbury Funds, Inc. | |
Municipal Bond Fund | |
Portfolio of Investments - (Continued) | April 30, 2013 |
(Unaudited) |
Principal
Amount |
Value | |||||||
Michigan (continued) | ||||||||
$ | 1,155,000 |
River Rouge School District Refunding GO, (Q-SBLF),
5.00%, 05/01/16 |
$ | 1,278,666 | ||||
775,000 |
River Rouge School District Refunding GO, (Q-SBLF),
5.00%, 05/01/18 |
896,559 | ||||||
1,160,000 |
River Rouge School District Refunding GO, (Q-SBLF),
5.00%, 05/01/21 |
1,386,583 | ||||||
1,000,000 |
River Rouge School District Refunding GO, (Q-SBLF),
5.00%, 05/01/22 |
1,201,150 | ||||||
2,000,000 |
Romulus Community Schools Refunding GO (Q-SBLF),
5.00%, 05/01/22 |
2,377,460 | ||||||
700,000 |
State of Michigan Trunk Line Refunding Revenue Bonds, Series A,
5.25%, 11/01/13 |
717,458 | ||||||
265,000 |
Stockbridge Community Schools Refunding GO, (AGM, Q-SBLF),
5.00%, 05/01/21 |
284,297 | ||||||
4,730,000 |
University of Michigan Refunding Revenue Bonds, Series C,
4.00%, 04/01/19 |
5,498,199 | ||||||
1,500,000 |
University of Michigan Revenue Bonds,
0.22%, 04/01/32(d) |
1,500,000 | ||||||
1,375,000 |
Warren Consolidated Schools Refunding GO (Q-SBLF),
5.00%, 05/01/20 |
1,657,934 | ||||||
23,386,602 | ||||||||
Minnesota — 1.5% | ||||||||
1,300,000 |
City of Minneapolis Public Improvements GO,
5.00%, 12/01/17 |
1,557,244 | ||||||
450,000 |
Minnesota Public Facilities Authority Clean Water Revenue Bonds, Series B,
5.00%, 03/01/16 |
506,381 | ||||||
1,845,000 |
New Prague Independent School District No 721 Crossover Refunding GO, (School District Credit Program),
4.00%, 02/01/19 |
2,179,222 | ||||||
5,425,000 |
St. Paul Port Authority Anderson Office Building Refunding Revenue Bonds, Series 3,
5.00%, 12/01/19 |
6,640,471 | ||||||
5,000,000 |
St. Paul Port Authority Anderson Office Building Refunding Revenue Bonds, Series 3,
5.00%, 12/01/21 |
6,225,950 |
Principal
Amount |
Value | |||||||
Minnesota (continued) | ||||||||
$ | 1,000,000 |
State of Minnesota Refunding Revenue Bonds, Series B,
5.00%, 03/01/21 |
$ | 1,253,370 | ||||
18,362,638 | ||||||||
Mississippi — 0.2% | ||||||||
1,810,000 |
Mississippi Development Bank Special Obligation Refunding Revenue Bonds, Series D,
5.00%, 08/01/18 |
2,111,401 | ||||||
Missouri — 1.1% | ||||||||
700,000 |
County of Jackson Refunding Revenue Bonds,
4.00%, 12/01/18 |
789,299 | ||||||
1,020,000 |
County of Jackson Refunding Revenue Bonds,
4.00%, 12/01/21 |
1,149,193 | ||||||
500,000 |
County of Jackson Refunding Revenue Bonds,
4.00%, 12/01/22 |
562,160 | ||||||
500,000 |
Jackson County Reorganized School District No. 4 Blue Springs Refunding GO, Series B,
5.00%, 03/01/18 |
589,370 | ||||||
2,225,000 |
Missouri State Health & Educational Facilities Authority Columbia Arena Project Refunding Revenue Bonds,
5.00%, 10/01/19 |
2,734,414 | ||||||
1,205,000 |
Missouri State Highways & Transportation Commission Refunding Revenue Bonds, Senior Lien,
5.00%, 02/01/14 |
1,248,091 | ||||||
5,000,000 |
St. Louis School District Direct Deposit Program GO, (State Aid Direct Deposit),
5.00%, 04/01/22 |
6,076,100 | ||||||
13,148,627 | ||||||||
Nevada — 0.5% | ||||||||
2,605,000 | Clark County Water Reclamation District GO, Series A, 5.25%, 07/01/20 | 3,153,900 | ||||||
3,110,000 | Las Vegas Valley Water District Refunding GO, Series A, (NATL-RE, FGIC), 5.00%, 06/01/20 | 3,372,546 | ||||||
6,526,446 |
77 |
|
Old Westbury Funds, Inc. | |
Municipal Bond Fund | |
Portfolio of Investments - (Continued) | April 30, 2013 |
(Unaudited) |
Principal
Amount |
Value | |||||||
New Hampshire — 0.7% | ||||||||
$ | 2,600,000 |
New Hampshire Health & Education Facilities Authority Dartmouth College Revenue Bonds,
0.20%, 06/01/32(d) |
$ | 2,600,000 | ||||
5,250,000 |
State of New Hampshire Highway Improvements Revenue,
5.00%, 09/01/19 |
6,440,543 | ||||||
9,040,543 | ||||||||
New Jersey — 5.2% | ||||||||
255,000 |
Denville Township Board of Education Refunding GO, (AGM, School Board Resolution Funding),
4.00%, 02/15/17 |
280,633 | ||||||
7,000,000 |
Garden State Preservation Trust Refunding Revenue Bonds, Series A,
5.00%, 11/01/17 |
8,332,870 | ||||||
600,000 |
Middlesex County Improvement Authority Open Space Trust Refunding Revenue Bonds (County GTY),
5.00%, 09/15/19 |
738,516 | ||||||
475,000 |
Monmouth County Improvement Authority Refunding Revenue Bonds (County GTY, Municipal Government GTY),
5.00%, 12/01/22 |
608,171 | ||||||
5,000,000 |
New Jersey Economic
Development Authority School Facilities Construction Refunding Revenue Bonds, Series N-1, (AMBAC), 5.50%, 09/01/24 |
6,454,450 | ||||||
1,500,000 |
New Jersey Economic Development Authority School Facilities Construction Refunding Revenue Bonds, Series W,
5.00%, 03/01/18 |
1,761,945 | ||||||
500,000 |
New Jersey Economic Development Authority School Facilities Construction Revenue Bonds, Series O,
5.00%, 03/01/18 |
542,515 | ||||||
11,690,000 |
New Jersey Economic Development Authority School Facility Construction Refunding Revenue Bonds, Series EE,
5.00%, 09/01/17 |
13,687,237 |
Principal
Amount |
Value | |||||||
New Jersey (continued) | ||||||||
$ | 1,000,000 |
New Jersey Educational Facilities Authority Higher Education Capital Improvement Refunding Revenue Bonds, Series A, (AGM),
5.00%, 09/01/14 |
$ | 1,059,470 | ||||
1,415,000 |
New Jersey Educational Facilities Authority Ramapo College Revenue Bonds, Series A,
5.00%, 07/01/14 |
1,484,547 | ||||||
25,000 |
New Jersey Environmental Infrastructure Trust Revenue Bonds, Series 2012,
5.00%, 09/01/16(b) |
28,663 | ||||||
1,160,000 |
New Jersey Environmental Infrastructure Trust Revenue Bonds, Series 2013,
5.00%, 09/01/16 |
1,329,975 | ||||||
15,000 |
New Jersey Environmental Infrastructure Trust Revenue Bonds, Series A,
5.00%, 09/01/16(b) |
17,198 | ||||||
5,105,000 |
New Jersey Sports & Exposition Authority Refunding Revenue Bonds, Series B (State Appropriation),
5.00%, 09/01/18 |
6,036,611 | ||||||
40,000 |
New Jersey Sports & Exposition Authority Refunding Revenue Bonds, Series B (State Appropriation),
5.00%, 09/01/18(b) |
48,605 | ||||||
1,300,000 |
New Jersey State Turnpike Authority Refunding Revenue Bonds, Series B,
5.00%, 01/01/20 |
1,582,776 | ||||||
1,305,000 |
New Jersey Transportation Trust Fund Authority Transit Improvement Revenue Bonds, Series A (NATL-RE, FGIC-TCRS),
5.63%, 06/15/13 |
1,313,538 | ||||||
1,885,000 |
New Jersey Transportation Trust Fund Authority Transit Improvement Revenue Bonds, Series A, (State Appropriation),
5.00%, 06/15/16 |
2,126,337 | ||||||
1,375,000 |
New Jersey Transportation Trust Fund Authority Transportation Systems Refunding Revenue Bonds, Series B, (NATL-RE),
5.50%, 12/15/15 |
1,551,949 |
78 |
|
Old Westbury Funds, Inc. | |
Municipal Bond Fund | |
Portfolio of Investments - (Continued) | April 30, 2013 |
(Unaudited) |
Principal | ||||||||
Amount | Value | |||||||
New Jersey (continued) | ||||||||
$ | 2,750,000 | New Jersey Transportation Trust Fund Authority Transportation Systems Refunding Revenue Bonds, Series B-5, 5.25%, 12/15/19(c) | $ | 3,366,165 | ||||
335,000 | New Milford School District Refunding GO, (School Board Resolution Funding), 4.00%, 08/15/15 | 357,157 | ||||||
10,000,000 | Tobacco Settlement Financing Corp., Asset Backed Revenue Bonds, OID, 6.25%, 06/01/13(b) | 10,045,269 | ||||||
345,000 | Tobacco Settlement Financing Corp., Asset Backed Revenue Bonds, OID, 6.75%, 06/01/13(b) | 346,636 | ||||||
63,101,233 | ||||||||
New Mexico — 0.1% | ||||||||
1,000,000 | Gadsden Independent School District No 16 Refunding GO, Series B (State Aid Withholding), 4.00%, 08/15/16 | 1,104,510 | ||||||
250,000 | Gadsden Independent School District No 16 Refunding GO, Series B (State Aid Withholding), 4.00%, 08/15/17 | 282,378 | ||||||
1,386,888 | ||||||||
New York — 31.3% | ||||||||
3,000,000 | City of New York Public Improvements GO, Series B2, Sub-Series B9, (JP Morgan Chase Bank), 0.20%, 08/15/23(c)(d) | 3,000,000 | ||||||
1,355,000 | City of New York Public Improvements GO, Series D, 5.00%, 11/01/14(b) | 1,450,948 | ||||||
545,000 | City of New York Public Improvements GO, Series D, 5.00%, 11/01/21 | 579,864 | ||||||
8,470,000 | City of New York Public Improvements GO, Sub-Series A-1, 5.00%, 10/01/20 | 10,528,464 | ||||||
2,220,000 | City of New York Refunding GO, Series C, 5.00%, 08/01/20 | 2,751,446 | ||||||
1,000,000 | City of New York Refunding GO, Series C, 5.00%, 08/01/22 | 1,258,760 | ||||||
2,705,000 | City of New York Refunding GO, Series D, 5.00%, 08/01/13(b) | 2,736,432 |
Principal | ||||||||
Amount | Value | |||||||
New York (continued) | ||||||||
$ | 1,000,000 | City of New York Refunding GO, Series E, 5.00%, 08/01/14 | $ | 1,059,240 | ||||
8,340,000 | City of New York Refunding GO, Series E, 5.00%, 08/01/20 | 10,336,513 | ||||||
3,360,000 | City of New York Refunding GO, Series I, 5.00%, 08/01/16 | 3,829,627 | ||||||
12,000,000 | City of New York Refunding GO, Sub-Series I-1, 5.00%, 08/01/19 | 14,646,360 | ||||||
2,000,000 | Erie County Industrial Development Agency Refunding Revenue Bonds, Series B, 5.00%, 05/01/18 | 2,378,040 | ||||||
5,000,000 | Erie County Industrial Development Agency Refunding Revenue Bonds, Series B, 5.00%, 05/01/23 | 6,021,200 | ||||||
1,100,000 | Erie County Industrial Development Agency Revenue Bonds, Series A (State Aid Withholding), 5.00%, 05/01/13 | 1,100,000 | ||||||
7,000,000 | Metropolitan Transportation Authority Refunding Revenue Bonds, Series D, 3.00%, 11/15/13 | 7,104,440 | ||||||
3,500,000 | Metropolitan Transportation Authority Refunding Revenue Bonds, Series D, 5.00%, 11/15/18 | 4,199,580 | ||||||
10,000,000 | Metropolitan Transportation Authority Refunding Revenue Bonds, Series D, 5.00%, 11/15/21 | 12,333,800 | ||||||
1,000,000 | Metropolitan Transportation Authority Refunding Revenue Bonds, Series D-1, 5.00%, 11/01/22(c) | 1,235,840 | ||||||
10,000,000 | Metropolitan Transportation Authority Refunding Revenue Bonds, Series F, 5.00%, 11/15/17 | 11,783,100 | ||||||
1,925,000 | Metropolitan Transportation Authority Refunding Revenue Bonds, Series F, 5.00%, 11/15/21 | 2,374,257 | ||||||
9,550,000 | Metropolitan Transportation Authority Refunding Revenue Bonds, Series F, 5.00%, 11/15/22 | 11,810,485 |
79 |
|
Old Westbury Funds, Inc. | |
Municipal Bond Fund | |
Portfolio of Investments - (Continued) | April 30, 2013 |
(Unaudited) |
Principal | ||||||||
Amount | Value | |||||||
New York (continued) | ||||||||
$ | 650,000 | Metropolitan Transportation Authority Transit Improvements Revenue Bonds, Series A, 3.00%, 11/15/13 | $ | 659,698 | ||||
2,150,000 | Metropolitan Transportation Authority Transit Improvements Revenue Bonds, Series A, 4.00%, 11/15/15 | 2,336,341 | ||||||
1,910,000 | Metropolitan Transportation Authority Transit Improvements Revenue Bonds, Series C, 5.00%, 11/15/21 | 2,355,756 | ||||||
1,000,000 | Municipal Assistance Corp. For The City of Troy General Resolution Refunding Revenue Bonds, Series A, (GO of Corp.), 4.50%, 01/15/15 | 1,047,560 | ||||||
4,570,000 | New York City Health & Hospital Corp. Refunding Revenue Bonds, Series A, (GO of Corp.), 5.00%, 02/15/14 | 4,737,536 | ||||||
2,500,000 | New York City Municipal Water Finance Authority Fiscal 2009 Revenue Bonds, Series A, 5.50%, 06/15/21 | 3,030,525 | ||||||
1,635,000 | New York City Transitional Finance Authority Building Aid Revenue Bonds, Sub-Series S-1A (State Aid Withholding), 3.00%, 07/15/13 | 1,644,074 | ||||||
9,375,000 | New York City Transitional Finance Authority Future Tax Secured Refunding Revenue Bonds, Series A, 5.00%, 11/01/18 | 11,374,969 | ||||||
1,060,000 | New York City Transitional Finance Authority Future Tax Secured Refunding Revenue Bonds, Series A-1, 5.00%, 11/01/14 | 1,134,560 | ||||||
1,335,000 | New York City Transitional Finance Authority Future Tax Secured Refunding Revenue Bonds, Series B, 5.00%, 11/01/17 | 1,583,991 | ||||||
665,000 | New York City Transitional Finance Authority Future Tax Secured Refunding Revenue Bonds, Series B, 5.00%, 11/01/17(b) | 792,926 |
Principal | ||||||||
Amount | Value | |||||||
New York (continued) | ||||||||
$ | 1,950,000 | New York City Transitional Finance Authority Future Tax Secured Refunding Revenue Bonds, Series B, 5.00%, 02/01/18 | $ | 2,322,489 | ||||
14,775,000 | New York City Transitional Finance Authority Future Tax Secured Refunding Revenue Bonds, Sub-Series B, 5.00%, 11/01/21 | 18,683,135 | ||||||
3,025,000 | New York City Transitional Finance Authority Future Tax Secured Refunding Revenue Bonds, Sub-Series G, 5.00%, 11/01/18 | 3,670,323 | ||||||
1,045,000 | New York City Transitional Finance Authority Future Tax Secured Refunding Revenue Bonds, Sub-Series G, 5.00%, 11/01/19 | 1,293,125 | ||||||
2,425,000 | New York City Transitional Finance Authority Future Tax Secured Refunding Revenue Bonds, Sub-Series G, 5.00%, 11/01/21 | 3,066,437 | ||||||
935,000 | New York City Transitional Finance Authority Future Tax Secured Refunding Revenue Bonds, Sub-Series H, 5.00%, 11/01/18 | 1,134,464 | ||||||
1,535,000 | New York City Transitional Finance Authority Future Tax Secured Refunding Revenue Bonds, Sub-Series H, 5.00%, 11/01/21 | 1,941,023 | ||||||
515,000 | New York City Transitional Finance Authority Future Tax Secured Revenue Bonds, Sub-Series, F-1, 5.00%, 02/01/19 | 627,785 | ||||||
4,725,000 | New York City Transitional Finance Authority Public Improvement Revenue Bonds, Series B-3, 4.00%, 11/01/13 | 4,815,106 | ||||||
6,300,000 | New York City Transitional Finance Authority Public Improvement Revenue Bonds, Series B-3, 5.00%, 11/01/14 | 6,742,197 | ||||||
1,815,000 | New York City Transitional Finance Authority Public Improvement Revenue Bonds, Series C, 5.00%, 11/01/17 | 2,153,516 |
80 |
|
Old Westbury Funds, Inc. | |
Municipal Bond Fund | |
Portfolio of Investments - (Continued) | April 30, 2013 |
(Unaudited) |
Principal | ||||||||
Amount | Value | |||||||
New York (continued) | ||||||||
$ | 2,200,000 | New York City Transitional Finance Authority Public Improvements Revenue Bonds, Series A-1, 5.00%, 05/01/22 | $ | 2,683,560 | ||||
3,235,000 | New York City Transitional Finance Authority School Improvement Revenue Bonds, Sub-Series S-1A, (State Aid Withholding), 5.00%, 07/15/21 | 4,006,903 | ||||||
7,090,000 | New York Local Government Assistance Corp. Refunding Revenue Bonds, Sub-Lien Series B-3V, (GO of Corp.), 0.20%, 04/01/24(d) | 7,090,000 | ||||||
700,000 | New York Local Government Assistance Corp. Refunding Revenue Bonds, Sub-Series A-5-6, 5.00%, 04/01/17 | 818,286 | ||||||
5,100,000 | New York Municipal Bond Bank Agency Refunding Revenue Bonds, (State Aid Withholding), 4.00%, 12/01/17 | 5,814,816 | ||||||
10,000,000 | New York Municipal Bond Bank Agency Refunding Revenue Bonds, (State Aid Withholding), 5.00%, 12/01/21 | 12,523,800 | ||||||
700,000 | New York State Dormitory Authority Cornell University Revenue Bonds, Series A, 0.22%, 07/01/29(d) | 700,000 | ||||||
900,000 | New York State Dormitory Authority Economic Development & Housing Revenue Bonds, Series A, 4.00%, 12/15/16 | 1,010,340 | ||||||
15,000 | New York State Dormitory Authority Mental Health Services Facility Refunding Revenue Bonds, (State Appropriation), 5.00%, 08/15/18(b) | 18,227 | ||||||
1,770,000 | New York State Dormitory Authority Mental Health Services Facility Refunding Revenue Bonds, Series A, (State Appropriation), 4.50%, 08/15/17 | 2,043,589 | ||||||
550,000 | New York State Dormitory Authority Mental Health Services Facility Revenue Bonds, (NATL-RE, FGIC, State Appropriation), 5.00%, 02/15/16 | 595,117 |
Principal | ||||||||
Amount | Value | |||||||
New York (continued) | ||||||||
$ | 2,485,000 | New York State Dormitory Authority Mental Health Services Facility Revenue Bonds, (State Appropriation), 5.00%, 08/15/18 | $ | 2,975,415 | ||||
2,110,000 | New York State Dormitory Authority Refunding Revenue Bonds, 5.00%, 08/15/18 | 2,489,610 | ||||||
15,000,000 | New York State Dormitory Authority Refunding Revenue Bonds, Series A, 5.00%, 12/15/20 | 18,753,000 | ||||||
4,000,000 | New York State Dormitory Authority Refunding Revenue Bonds, Series D, 5.00%, 02/15/20 | 4,940,320 | ||||||
4,000,000 | New York State Dormitory Authority School Improvement Revenue Bonds, Series C, 5.00%, 03/15/17 | 4,661,640 | ||||||
5,000,000 | New York State Dormitory Authority University and College Improvements Revenue Bonds, Series C, 5.00%, 03/15/21 | 6,251,800 | ||||||
2,000,000 | New York State Environmental Facilities Corp. Refunding Revenue Bonds, Sub-Series A, 5.00%, 06/15/19 | 2,465,480 | ||||||
7,000,000 | New York State Thruway Authority Highway Improvement Refunding Revenue Bonds, Series B, 5.00%, 04/01/20 | 8,430,240 | ||||||
6,000,000 | New York State Thruway Authority Highway Improvement Revenue Bonds, Series A, 5.00%, 03/15/19 | 6,743,700 | ||||||
5,000,000 | New York State Thruway Authority Highway Improvement Revenue Bonds, Series A, 5.00%, 03/15/21 | 6,025,950 | ||||||
1,900,000 | New York State Thruway Authority Highway Improvement Revenue Bonds, Series B, 5.00%, 04/01/21 | 2,247,643 | ||||||
400,000 | New York State Thruway Authority Refunding Revenue Bonds, Series A, 5.00%, 03/15/17 | 466,163 |
81 |
|
Old Westbury Funds, Inc. | |
Municipal Bond Fund | |
Portfolio of Investments - (Continued) | April 30, 2013 |
(Unaudited) |
Principal | ||||||||
Amount | Value | |||||||
New York (continued) | ||||||||
$ | 8,000,000 | New York State Thruway Authority Refunding Revenue Bonds, Series A, 5.00%, 03/15/21 | $ | 9,914,240 | ||||
5,000,000 | New York State Thruway Authority Refunding Revenue Bonds, Series B, 5.00%, 04/01/21 | 5,957,800 | ||||||
925,000 | New York State Thruway Authority Refunding Revenue Bonds, Series B (AMBAC), 5.00%, 04/01/19 | 1,025,575 | ||||||
500,000 | New York State Urban Development Corp. Refunding Revenue Bonds, Series D, 5.00%, 01/01/15 | 537,949 | ||||||
5,000,000 | New York State Urban Development Corp. Refunding Revenue Bonds, Series D, 5.50%, 01/01/19 | 6,130,200 | ||||||
1,000,000 | New York State Urban Development Corp. Service Contract Refunding Revenue Bonds, (AGM), 5.00%, 01/01/15 | 1,075,900 | ||||||
10,000,000 | Port Authority of New York & New Jersey Refunding Revenue Bonds, 5.00%, 12/01/20 | 12,401,100 | ||||||
16,250,000 | Tobacco Settlement Financing Corp. Asset Backed Refunding Revenue Bonds, Series A, 5.00%, 06/01/18 | 19,371,300 | ||||||
6,000,000 | Triborough Bridge & Tunnel Authority Highway Improvements Revenue Bonds, Sub-Series B1 (GO of Authority), 5.00%, 11/15/25(d) | 6,150,180 | ||||||
6,845,000 | Triborough Bridge & Tunnel Authority Refunding Revenue Bonds, Series B, 5.00%, 11/15/18 | 8,335,841 | ||||||
6,050,000 | Triborough Bridge & Tunnel Authority Refunding Revenue Bonds, Series B, (State Street Bank & Trust), 0.21%, 01/01/32(c)(d) | 6,050,000 | ||||||
7,890,000 | Triborough Bridge & Tunnel Authority Toll Road Refunding Revenue Bonds, Series B, 5.00%, 11/15/23 | 10,084,919 | ||||||
380,456,535 |
Principal | ||||||||
Amount | Value | |||||||
North Carolina — 3.5% | ||||||||
$ | 680,000 | Appalachian State University Refunding Revenue Bonds, 5.00%, 05/01/20 | $ | 842,568 | ||||
905,000 | Buncombe County Refunding Revenue Bonds, 5.00%, 06/01/21 | 1,135,721 | ||||||
1,355,000 | Cabarrus County School Improvement COP, 5.00%, 01/01/21 | 1,611,447 | ||||||
1,005,000 | City of Charlotte Equipment Acquisition Refunding COP, 5.00%, 12/01/16 | 1,157,810 | ||||||
2,695,000 | City of Charlotte Water & Sewer System Revenue Bonds, Series B, 0.20%, 07/01/36(d) | 2,695,000 | ||||||
5,000,000 | City of Raleigh Combined Enterprise System Water and Sewer Revenue Bonds, Series A, 0.21%, 03/01/35(d) | 5,000,000 | ||||||
11,300,000 | County of Guilford Recreational Facilities GO, Series B, 0.20%, 03/01/25(d) | 11,300,000 | ||||||
3,015,000 | County of Mecklenburg Refunding GO, Series A, 5.00%, 12/01/22 | 3,921,912 | ||||||
615,000 | Dare County Refunding Revenue Bonds, Series D, 4.00%, 06/01/17 | 690,110 | ||||||
675,000 | Dare County Refunding Revenue Bonds, Series D, 4.00%, 06/01/18 | 769,257 | ||||||
675,000 | Dare County Refunding Revenue Bonds, Series D, 5.00%, 06/01/21 | 842,454 | ||||||
685,000 | Dare County Refunding Revenue Bonds, Series D, 5.00%, 06/01/23 | 828,247 | ||||||
435,000 | Dare County Refunding Revenue Bonds, Series D, 5.00%, 06/01/24 | 521,651 | ||||||
1,285,000 | Dare County School Improvements COP, (NATL-RE, FGIC), 5.00%, 06/01/17 | 1,409,439 | ||||||
1,565,000 | Johnston County School Improvements GO, (NATL-RE), 5.00%, 02/01/20 | 1,758,544 | ||||||
575,000 | North Carolina State University At Raleigh Refunding Revenue Bonds, Series A, 5.00%, 10/01/21 | 730,865 |
82 |
|
Old Westbury Funds, Inc. | |
Municipal Bond Fund | |
Portfolio of Investments - (Continued) | April 30, 2013 |
(Unaudited) |
Principal | ||||||||
Amount | Value | |||||||
North Carolina (continued) | ||||||||
$ | 2,000,000 | Orange County Public Facilities Co. Refunding Revenue Bonds, 5.00%, 10/01/21 | $ | 2,502,760 | ||||
4,615,000 | Town of Cary Public Improvements GO, 0.22%, 06/01/27(d) | 4,615,000 | ||||||
42,332,785 | ||||||||
Ohio — 2.0% | ||||||||
2,365,000 | Ohio State Building Authority Facilities Administration Building Project Refunding Revenue Bonds, Series B, (NATL-RE, FGIC), 5.00%, 10/01/18 | 2,835,824 | ||||||
400,000 | Ohio State Department of Administrative Services Knowledge System COP, Series A, (NATL-RE), 5.00%, 09/01/16 | 431,787 | ||||||
1,000,000 | State of Ohio Capital Facilities Lease Appropriation Refunding Revenue Bonds, 5.00%, 10/01/17 | 1,176,910 | ||||||
1,000,000 | State of Ohio Highway Improvements Revenue Bonds, Series 1, 5.00%, 12/15/21 | 1,257,060 | ||||||
8,880,000 | State of Ohio Infrastructure Improvement Refunding GO, Series B, 0.21%, 08/01/17(d) | 8,880,000 | ||||||
1,300,000 | State of Ohio Refunding GO, Series B, 5.00%, 09/15/14 | 1,384,006 | ||||||
6,855,000 | State of Ohio School Improvements GO, Series C, 0.20%, 06/15/26(d) | 6,855,000 | ||||||
1,730,000 | University of Cincinnati College & University Refunding Revenue Bonds, Series A, (State Appropriation), 5.00%, 06/01/17 | 2,002,060 | ||||||
24,822,647 | ||||||||
Oregon — 0.6% | ||||||||
1,300,000 | City of Portland Water System Refunding Revenue Bonds, Series A, 5.00%, 05/01/17 | 1,522,066 | ||||||
2,015,000 | Lane County School District No 19 Springfield School Improvements GO, Series B, (AGM, School Board GTY), 5.00%, 06/15/17 | 2,333,954 |
Principal | ||||||||
Amount | Value | |||||||
Oregon (continued) | ||||||||
$ | 1,000,000 | Multnomah-Clackamas Counties Centennial School District No 28JT Refunding GO, (AGM, School Board GTY), 5.00%, 12/15/19 | $ | 1,231,700 | ||||
2,000,000 | Washington & Multnomah Counties School District No 48J Beaverton Refunding GO, Series B, (School Board GTY), 4.00%, 06/15/19 | 2,325,440 | ||||||
7,413,160 | ||||||||
Pennsylvania — 1.5% | ||||||||
7,000,000 | Pennsylvania Economic Development Financing Authority Refunding Revenue Bonds, Series A, 5.00%, 01/01/18 | 8,353,030 | ||||||
7,000,000 | Philadelphia School District Refunding GO, Series C (State Aid Withholding), 5.00%, 09/01/18 | 8,198,960 | ||||||
1,000,000 | University of Pittsburgh of the Commonwealth Systems of Higher Education University Capital Project Revenue Bonds, (GO of University), 5.50%, 09/15/37(c)(d) | 1,018,810 | ||||||
17,570,800 | ||||||||
Puerto Rico — 0.0% | ||||||||
120,000 | Puerto Rico Highway & Transportation Authority Highway Improvements Revenue Bonds OID, Series W, 5.50%, 07/01/15(b) | 129,658 | ||||||
Rhode Island — 0.5% | ||||||||
3,850,000 | Rhode Island Health & Educational Building Corp. Higher Education Brown University Revenue, Series A, 0.20%, 05/01/35(d) | 3,850,000 | ||||||
705,000 | Rhode Island Health & Educational Building Corp. Town of East Greenwich Revenue Bonds, Series A, (Municipal Government GTY), 4.00%, 05/15/18 | 800,394 | ||||||
775,000 | State of Rhode Island Energy Conservation COP, Series A, 3.00%, 04/01/14 | 794,096 | ||||||
5,444,490 |
83 |
|
Old Westbury Funds, Inc. | |
Municipal Bond Fund | |
Portfolio of Investments - (Continued) | April 30, 2013 |
(Unaudited) |
Principal | ||||||||
Amount | Value | |||||||
South Carolina — 0.6% | ||||||||
$ | 880,000 | Lexington County School District No 2 Refunding GO (South Carolina School District), 4.00%, 03/01/17 | $ | 984,174 | ||||
2,090,000 | Lexington County School District No 2 Refunding GO (South Carolina School District), 5.00%, 03/01/18 | 2,484,111 | ||||||
1,635,000 | Lexington County School District No 2 Refunding GO (South Carolina School District), 5.00%, 03/01/20 | 2,021,776 | ||||||
330,000 | State of South Carolina University & College Improvements GO, Series B, 5.00%, 03/01/19 | 405,593 | ||||||
680,000 | State of South Carolina University & College Improvements GO, Series E (State Aid Withholding), 5.00%, 03/01/19 | 835,768 | ||||||
6,731,422 | ||||||||
Tennessee — 0.5% | ||||||||
1,150,000 | City of Knoxville Wastewater System Revenue Bonds, Series B, 5.00%, 04/01/21 | 1,465,917 | ||||||
1,200,000 | City of Knoxville Wastewater System Revenue Bonds, Series B, 5.00%, 04/01/22 | 1,509,132 | ||||||
2,895,000 | County of Shelby Refunding GO, Series C, 0.22%, 12/01/31(d) | 2,895,000 | ||||||
5,870,049 | ||||||||
Texas — 8.5% | ||||||||
1,255,000 | Alamo Community College District GO, Series A, (NATL-RE), 5.50%, 08/15/15 | 1,397,279 | ||||||
3,660,000 | Alamo Heights Independent School District Refunding GO (PSF-GTD), 5.00%, 02/01/21 | 4,581,076 | ||||||
2,500,000 | Aldine Independent School District Refunding GO, (PSF-GTD), 4.50%, 02/15/22 | 2,787,500 | ||||||
1,260,000 | Aledo Independent School District School Building GO, Series A, (PSF-GTD), 5.00%, 02/15/20 | 1,346,285 |
Principal | ||||||||
Amount | Value | |||||||
Texas (continued) | ||||||||
$ | 515,000 | Arlington Independent School District Improvements GO, Series A, (PSF-GTD), 5.00%, 02/15/14 | $ | 534,256 | ||||
1,860,000 | Austin Community College District Refunding GO, 5.00%, 08/01/20 | 2,308,148 | ||||||
400,000 | Beaumont Independent School District Improvements GO, (PSF-GTD), 4.00%, 02/15/18 | 456,911 | ||||||
515,000 | City of Denton Certificates of Obligation GO, (NATL-RE), 5.00%, 02/15/14 | 533,756 | ||||||
895,000 | City of El Paso Water & Sewer Refunding Revenue Bonds, (NATL-RE), 4.50%, 03/01/14 | 926,048 | ||||||
1,095,000 | City of Friendswood Waterworks & Sewer System Refunding Revenue Bonds, (AGM), 5.00%, 03/01/21 | 1,213,567 | ||||||
4,000,000 | City of Houston Refunding Public Improvement GO, Series A, (NATL-RE), 5.25%, 03/01/14 | 4,165,280 | ||||||
3,000,000 | City of Houston Refunding Public Improvement GO, Series A, (NATL-RE), 5.38%, 03/01/15 | 3,127,320 | ||||||
1,000,000 | City of League Waterworks & Sewer GO, Series A, 5.00%, 02/15/22 | 1,239,620 | ||||||
1,775,000 | City of Lubbock Public Improvement GO, 5.25%, 02/15/20 | 2,147,839 | ||||||
3,785,000 | City of Lubbock Public Improvement GO, 5.00%, 02/15/24 | 4,539,199 | ||||||
1,280,000 | City of Richardson Public Improvements GO, (NATL-RE), 5.25%, 02/15/20 | 1,381,350 | ||||||
465,000 | City of Rockwall Refunding GO, 4.00%, 08/01/22 | 513,820 | ||||||
1,630,000 | City of San Antonio Refunding GO, 5.25%, 08/01/13 | 1,650,228 | ||||||
260,000 | Coppell Independent School District School Building GO, (PSF-GTD), 4.00%, 08/15/16 | 288,605 | ||||||
1,000,000 | County of Williamson Limited Tax Refunding GO, 5.00%, 02/15/21 | 1,253,680 |
84 |
|
Old Westbury Funds, Inc. | |
Municipal Bond Fund | |
Portfolio of Investments - (Continued) | April 30, 2013 |
(Unaudited) |
Principal | ||||||||
Amount | Value | |||||||
Texas (continued) | ||||||||
$ | 1,095,000 | Cypress-Fairbanks Independent School District Refunding GO, Series A, (PSF-GTD), 4.00%, 02/15/17 | $ | 1,229,236 | ||||
750,000 | Dallas Independent School District Refunding GO, (PSF-GTD), 4.25%, 02/15/21 | 882,540 | ||||||
245,000 | Deer Park Independent School District Limited Tax GO, (AGM), 5.00%, 02/15/17 | 283,467 | ||||||
250,000 | Frisco Independent School District School Building GO, Series A, (PSF-GTD), 6.13%, 08/15/21 | 317,098 | ||||||
350,000 | Frisco Independent School District School Building GO, Series B, (NATL-RE), 5.50%, 07/15/13 | 353,735 | ||||||
3,000,000 | Garland Independent School District Refunding GO, Series A, 5.00%, 02/15/19 | 3,646,290 | ||||||
700,000 | Grapevine Tax Increment Refunding GO, Series A, (NATL-RE), 5.00%, 08/15/17 | 754,810 | ||||||
1,000,000 | Grapevine Tax Increment Refunding GO, Series A, (NATL-RE), 5.00%, 08/15/19 | 1,079,230 | ||||||
1,000,000 | Harris County Refunding GO, Series C, (AGM), 5.25%, 08/15/19 | 1,226,060 | ||||||
10,000 | Hays Consolidated Independent School District GO, (PSF-GTD), 5.25%, 08/15/14(b) | 10,630 | ||||||
365,000 | Hays Consolidated Independent School District GO, (PSF-GTD), 5.25%, 08/15/18 | 388,221 | ||||||
500,000 | Hidalgo County Certificates of Obligation GO, (NATL-RE), 4.50%, 08/15/19 | 556,035 | ||||||
1,500,000 | Houston Community College System Refunding GO, 5.00%, 02/15/21 | 1,866,825 | ||||||
2,990,000 | Houston Community College System Student Fee Revenue Bonds, Senior Lien, (AGM), 5.25%, 04/15/21 | 3,544,944 | ||||||
1,000,000 | Houston Community College System University and College Improvements GO, 5.00%, 02/15/21 | 1,245,380 |
Principal | ||||||||
Amount | Value | |||||||
Texas (continued) | ||||||||
$ | 6,000,000 | Houston Higher Education Finance Corp. Rice University Project Refunding Revenue Bonds, Series A, (GO of University), 0.22%, 11/15/29(d) | $ | 6,000,000 | ||||
385,000 | Joshua Independent School District Refunding GO, Series C (PSF-GTD), 5.45%, 02/15/16 | 416,312 | ||||||
1,300,000 | Lower Colorado River Authority Refunding Revenue Bonds, 5.00%, 05/15/13 | 1,302,082 | ||||||
4,500,000 | Lower Colorado River Authority Refunding Revenue Bonds, 5.00%, 05/15/16 | 5,091,345 | ||||||
1,095,000 | Lower Colorado River Authority Refunding Revenue Bonds, Series 2012-2, 5.00%, 05/15/13 | 1,096,874 | ||||||
560,000 | McAllen Independent School District Refunding GO, (PSF-GTD), 5.00%, 02/15/16 | 607,090 | ||||||
2,175,000 | Mckinney Independent School District Refunding GO, (PSF-GTD), 5.00%, 02/15/20 | 2,697,435 | ||||||
6,500,000 | Northside Independent School District, School Improvements GO (PSF-GTD), 1.90%, 08/01/40(d) | 6,607,835 | ||||||
3,340,000 | Pearland Independent School District Refunding GO, (PSF-GTD), 5.00%, 02/15/20 | 4,134,953 | ||||||
525,000 | Red Oak Independent School District School Building GO, (PSF-GTD), 5.00%, 08/15/18 | 614,754 | ||||||
500,000 | Rockwall Independent School District School Building GO, (PSF-GTD), 4.75%, 02/15/15 | 539,449 | ||||||
1,005,000 | San Jacinto Community College District Refunding GO, (AMBAC), 4.25%, 02/15/14 | 1,034,014 | ||||||
495,000 | Seagraves Independent School District School Building GO, (PSF-GTD), 4.00%, 02/15/19 | 568,626 | ||||||
1,500,000 | Socorro Independent School District Refunding GO, (PSF-GTD), 5.25%, 08/15/13 | 1,521,570 |
85 |
|
Old Westbury Funds, Inc. | |
Municipal Bond Fund | |
Portfolio of Investments - (Continued) | April 30, 2013 |
(Unaudited) |
Principal | ||||||||
Amount | Value | |||||||
Texas (continued) | ||||||||
$ | 2,705,000 | Spring Independent School District School Building GO, (PSF-GTD), 5.00%, 02/15/15 | $ | 2,930,435 | ||||
1,070,000 | Texas State Transportation Commission Revenue Bonds, First Tier, 5.00%, 04/01/17 | 1,248,551 | ||||||
1,390,000 | Texas State University Systems University and College Improvement Revenue Bonds, 5.00%, 03/15/17 | 1,617,613 | ||||||
1,200,000 | Texas Tech University Refunding Revenue Bonds (AMBAC), 5.00%, 08/15/13(b) | 1,216,272 | ||||||
1,900,000 | University of North Texas Refunding Revenue Bonds, 5.00%, 04/15/20 | 2,337,323 | ||||||
4,730,000 | University of North Texas Refunding Revenue Bonds, 5.00%, 04/15/21 | 5,842,543 | ||||||
1,610,000 | University of Texas Financing Systems Refunding Revenue Bonds, Series E, 5.00%, 08/15/15 | 1,778,551 | ||||||
145,000 | Victoria Utility System, Water & Wastewater Authority Refunding Revenue Bonds, (AMBAC), 5.00%, 12/01/17 | 170,178 | ||||||
103,150,073 | ||||||||
Utah — 2.3% | ||||||||
1,975,000 | Alpine School District School Building GO, (School Board GTY), 5.00%, 03/15/21 | 2,399,902 | ||||||
7,600,000 | Intermountain Power Agency Refunding Revenue Bonds, Series A, 5.25%, 07/01/13 | 7,661,636 | ||||||
5,590,000 | Intermountain Power Agency Refunding Revenue Bonds, Series A, 5.25%, 07/01/13 | 5,635,335 | ||||||
3,145,000 | Intermountain Power Agency Refunding Revenue Bonds, Series A, 5.25%, 07/01/13 | 3,170,506 | ||||||
2,250,000 | Intermountain Power Agency Refunding Revenue Bonds, Series A, 5.25%, 07/01/13 | 2,268,248 |
Principal | ||||||||
Amount | Value | |||||||
Utah (continued) | ||||||||
$ | 4,680,000 | Intermountain Power Agency Refunding Revenue Bonds, Series A, 5.50%, 07/01/13 | $ | 4,719,827 | ||||
1,805,000 | Intermountain Power Agency Refunding Revenue Bonds, Series A, 5.50%, 07/01/13 | 1,820,361 | ||||||
125,000 | South Jordan Water Refunding Revenue Bonds, (AMBAC), 5.00%, 11/01/15 | 138,629 | ||||||
27,814,444 | ||||||||
Virginia — 2.6% | ||||||||
1,000,000 | City of Newport News Water Improvement Refunding GO, Series B (State Aid Withholding), 5.25%, 07/01/14 | 1,057,810 | ||||||
155,000 | City of Norfolk Water Refunding Revenue Bonds, 5.00%, 11/01/22 | 196,165 | ||||||
1,290,000 | City of Roanoke Refunding GO, Series A (State Aid Withholding), 5.00%, 07/15/23 | 1,657,805 | ||||||
600,000 | County of Prince William Facilities Refunding COP, 4.00%, 10/01/17 | 676,374 | ||||||
1,350,000 | Fairfax County Economic Development Authority Community Services Facilities Project Revenue Bonds, Series A, 4.50%, 03/01/20 | 1,600,331 | ||||||
2,530,000 | Virginia College Building Authority Educational Facilities 21st Century College & Equipment Programs Refunding Revenue Bonds, Series C (State Appropriation), 4.00%, 02/01/15 | 2,691,819 | ||||||
6,000,000 | Virginia College Building Authority Public Higher Education Refunding Revenue Bonds, Series B (State Appropriation), 5.00%, 09/01/21 | 7,391,160 | ||||||
5,155,000 | Virginia College Building Authority Public Higher Education Refunding Revenue Bonds, Series B (State Appropriation), 5.00%, 09/01/22 | 6,286,523 |
86 |
|
Old Westbury Funds, Inc. | |
Municipal Bond Fund | |
Portfolio of Investments - (Continued) | April 30, 2013 |
(Unaudited) |
Principal | ||||||||
Amount | Value | |||||||
Virginia (continued) | ||||||||
$ | 5,000,000 | Virginia Commonwealth Transportation Board Transit Improvements Revenue Bonds, 5.00%, 03/15/23 | $ | 6,208,500 | ||||
750,000 | Virginia Public Building Authority Refunding Revenue Bonds, Series B, 5.00%, 08/01/13 | 758,828 | ||||||
1,245,000 | Virginia Public Building Authority Revenue Bonds, Series B, 5.00%, 08/01/14 | 1,318,268 | ||||||
1,250,000 | Virginia Public Building Authority Revenue Bonds, Series B (State Appropriation), 5.00%, 08/01/21 | 1,523,988 | ||||||
31,367,571 | ||||||||
Washington — 3.0% | ||||||||
100,000 | CDP-King County III Lease King Street Center Project Refunding Revenue Bonds, (NATL-RE), 5.00%, 06/01/17 | 113,537 | ||||||
2,970,000 | City of Tacoma Water Improvement Refunding Revenue Bonds, 2.00%, 12/01/13 | 3,000,146 | ||||||
2,525,000 | Clark County School District No 117 Camas Refunding GO, (School Board GTY), 5.00%, 12/01/17 | 2,999,498 | ||||||
800,000 | Island County School District No 201 Oak Harbor School Improvements GO, (School Board GTY), 5.00%, 12/01/16 | 914,616 | ||||||
1,000,000 | Island County School District No 204 Coupeville Refunding GO, (School Board GTY), 5.00%, 12/01/19 | 1,209,380 | ||||||
680,000 | King County Public Transportation Sales Tax Refunding GO, 4.00%, 12/01/18 | 788,793 | ||||||
500,000 | King County School District No. 1 Seattle School Improvement GO (School Board GTY), 5.00%, 06/01/13 | 502,000 | ||||||
1,000,000 | King County School District No. 405 Bellevue School Improvement GO, Series A (School Board GTY), 3.00%, 12/01/13 | 1,016,340 |
Principal | ||||||||
Amount | Value | |||||||
Washington (continued) | ||||||||
$ | 320,000 | King County School District No. 401 Highline Refunding GO, (School Board GTY), 5.00%, 12/01/20 | $ | 391,247 | ||||
1,500,000 | King County School District No. 414 Lake Washington GO, (School Board GTY), 5.00%, 12/01/20 | 1,812,030 | ||||||
3,000,000 | King County Sewer Improvements GO, Series B, 0.20%, 01/01/40(d) | 3,000,000 | ||||||
1,315,000 | Spokane County School District No 363 West Valley Refunding GO, (School Board GTY), 5.00%, 12/01/18 | 1,580,656 | ||||||
2,000,000 | State of Washington Department of Ecology Refunding COP, Series B, (AMBAC), 5.00%, 04/01/16 | 2,237,520 | ||||||
800,000 | State of Washington Motor Vehicle Fuel Tax GO, Series E, 5.00%, 02/01/23 | 993,816 | ||||||
5,000,000 | State of Washington Motor Vehicle Fuel Tax Refunding GO, Series 2012-B, 5.00%, 07/01/24 | 6,119,950 | ||||||
605,000 | State of Washington Refunding GO, Series R-2006A (AMBAC), 5.00%, 07/01/15(b) | 665,930 | ||||||
745,000 | State of Washington Refunding GO, Series R-2006A (AMBAC), 5.00%, 07/01/17 | 817,988 | ||||||
5,000,000 | State of Washington Refunding GO, Series R-2012C, 5.00%, 07/01/23 | 6,264,050 | ||||||
2,005,000 | University of Washington Refunding Revenue Bonds, 5.00%, 12/01/15 | 2,240,187 | ||||||
36,667,684 | ||||||||
West Virginia — 0.0% | ||||||||
125,000 | West Virginia University Revenue Bonds, Series A, (NATL-RE), 5.50%, 04/01/17 | 146,574 | ||||||
Wisconsin — 0.4% | ||||||||
100,000 | Fond Du Lac Refunding GO, (NATL-RE, FGIC), 4.75%, 03/01/15 | 103,727 |
87 |
|
Old Westbury Funds, Inc. | |
Municipal Bond Fund | |
Portfolio of Investments - (Continued) | April 30, 2013 |
(Unaudited) |
(a) | Cost for federal income tax purposes is $ 1,167,945,146 and net unrealized appreciation of investments is as follows: |
Unrealized appreciation | $ | 46,631,069 | ||
Unrealized depreciation | (539,782 | ) | ||
Net unrealized appreciation | $ | 46,091,287 |
(b) | These securities are pre-refunded; the date shown represents the pre-refunded date. Bonds which are pre-refunded are collateralized by U.S. Government securities which are held in escrow and are used to pay principal and interest on the municipal issue and to retire the bonds in full at the earliest refunding date. |
(c) | The security is subject to remarketing prior to its stated maturity, and is subject to mandatory redemption at the stated maturity date. |
(d) | Variable rate security. Rate shown is the rate as of April 30, 2013. |
(e) | Rate shown represents current yield at April 30, 2013. |
AGM — Assured Guaranty Municipal Corp. |
AMBAC — Insured by AMBAC Indemnity Corp. |
COP — Certificates of Participation |
FGIC — Insured by Financial Guaranty Insurance Corp. |
GO — General Obligations |
GTY — Guaranty |
NATL-RE — Insured by National Public Finance Guarantee Corp. |
OID — Original Issue Discount |
PSF-GTD — Permanent School Fund Guarantee |
Q–SBLF — Qualified-School Bond Loan Fund |
TCRS — Transferable Custodial Receipts |
XLCA — XL Capital Insurance |
XLCA-ICR — XL Capital Insurance-Immediate Credit Recovery |
88 |
|
Old Westbury Funds, Inc. | |
Municipal Bond Fund | |
Portfolio of Investments - (Continued) | April 30, 2013 |
(Unaudited) |
Portfolio diversification by State (Unaudited)
Percentage | |||||
State | of Net Assets | ||||
Alabama | 0.5 | % | |||
Arizona | 0.9 | % | |||
California | 3.6 | % | |||
Colorado | 0.7 | % | |||
Connecticut | 2.0 | % | |||
Delaware | 0.3 | % | |||
District Of Columbia | 0.8 | % | |||
Florida | 4.7 | % | |||
Georgia | 2.8 | % | |||
Hawaii | 0.9 | % | |||
Idaho | 0.2 | % | |||
Illinois | 2.0 | % | |||
Indiana | 1.8 | % | |||
Iowa | 0.2 | % | |||
Kansas | 0.5 | % | |||
Kentucky | 0.1 | % | |||
Louisiana | 0.4 | % | |||
Maine | 0.2 | % | |||
Maryland | 1.8 | % | |||
Massachusetts | 5.7 | % | |||
Michigan | 1.9 | % | |||
Minnesota | 1.5 | % | |||
Mississippi | 0.2 | % | |||
Missouri | 1.1 | % | |||
Nevada | 0.5 | % | |||
New Hampshire | 0.7 | % | |||
New Jersey | 5.2 | % | |||
New Mexico | 0.1 | % | |||
New York | 31.3 | % | |||
North Carolina | 3.5 | % | |||
Ohio | 2.0 | % | |||
Oregon | 0.6 | % | |||
Pennsylvania | 1.5 | % | |||
Puerto Rico | 0.0 | % | |||
Rhode Island | 0.5 | % | |||
South Carolina | 0.6 | % | |||
Tennessee | 0.5 | % | |||
Texas | 8.5 | % | |||
Utah | 2.3 | % | |||
Virginia | 2.6 | % | |||
Washington | 3.0 | % | |||
West Virginia | 0.0 | % | |||
Wisconsin | 0.4 | % | |||
Other* | 1.4 | % | |||
100 | % |
* | Includes cash and equivalents, investment companies, pending trades and Fund share transactions, interest and dividends receivable, prepaids and accrued expenses payable. |
89 |
|
Old Westbury Funds, Inc. | |
Statements of Assets and Liabilities | |
April 30, 2013 (Unaudited) | |
LARGE
CAP CORE
FUND |
LARGE
CAP
STRATEGIES FUND |
GLOBAL
SMALL & MID CAP FUND |
||||||||||
ASSETS: | ||||||||||||
Investments, at value | $ | 722,800,749 | $ | 6,532,927,444 | $ | 5,656,610,869 | ||||||
Foreign currency, at value (Cost $0, $0, and $6,841,969 respectively) | — | — | 6,421,902 | |||||||||
Cash | 99 | 369 | — | |||||||||
Cash due from broker for foreign currency contracts | — | 4,270,000 | — | |||||||||
Dividends and interest receivable | 1,879,361 | 23,770,170 | 10,017,663 | |||||||||
Receivable for Fund shares sold | 488,671 | 3,895,083 | 1,831,868 | |||||||||
Receivable for investments sold | — | 44,965,038 | 33,938,412 | |||||||||
Unrealized appreciation on forward foreign currency exchange contracts | — | 352,973 | — | |||||||||
Prepaid expenses | 23,679 | 47,039 | 48,497 | |||||||||
Total Assets | 725,192,559 | 6,610,228,116 | 5,708,869,211 | |||||||||
LIABILITIES: | ||||||||||||
Payable to custodian | — | — | 800,258 | |||||||||
Payable for Fund shares redeemed | 323,087 | 784,506 | 1,187,113 | |||||||||
Payable for investments purchased | 10,686,778 | 46,483,195 | 3,445,533 | |||||||||
Unrealized depreciation on forward foreign currency exchange contracts | — | 6,535,796 | 267,021 | |||||||||
Deferred tax liability payable (Note 9) | — | 245,124 | 57,836 | |||||||||
Accrued expenses and other payables: | ||||||||||||
Investment advisory | 354,200 | 4,371,788 | 3,693,020 | |||||||||
Administration | 38,100 | 312,402 | 282,307 | |||||||||
Shareholder servicing fee | 113,754 | 1,040,914 | 915,415 | |||||||||
Custody | 8,531 | 209,788 | 132,451 | |||||||||
Legal and Audit | 34,250 | 163,331 | 184,132 | |||||||||
Other | 8,469 | 57,100 | 133,731 | |||||||||
Total Liabilities | 11,567,169 | 60,203,944 | 11,098,817 | |||||||||
NET ASSETS | $ | 713,625,390 | $ | 6,550,024,172 | $ | 5,697,770,394 | ||||||
NET ASSETS consist of: | ||||||||||||
Capital paid-in | $ | 666,393,562 | $ | 6,076,005,115 | $ | 4,221,125,125 | ||||||
Accumulated undistributed (distributions in excess of) net investment income | 2,898,029 | 32,068,303 | (7,070,030 | ) | ||||||||
Accumulated undistributed net realized gain/(loss) on investments and foreign currency transactions | (33,504,308 | ) | (296,977,610 | ) | 209,769,902 | |||||||
Net unrealized appreciation/(depreciation) on investments and foreign currency transactions | 77,838,107 | 738,928,364 | 1,273,945,397 | |||||||||
NET ASSETS | $ | 713,625,390 | $ | 6,550,024,172 | $ | 5,697,770,394 | ||||||
Net Asset Value, maximum offering price and redemption price per share | $ | 12.82 | $ | 10.89 | $ | 16.01 | ||||||
Number of shares authorized | 2,500,000,000 | 3,000,000,000 | 3,500,000,000 | |||||||||
SHARES OF CAPITAL STOCK OUTSTANDING | 55,645,796 | 601,716,090 | 355,890,451 | |||||||||
INVESTMENTS, AT COST | $ | 644,962,642 | $ | 5,787,598,522 | $ | 4,381,939,774 |
See Notes to Financial Statements.
90 |
|
Old Westbury Funds, Inc. | |
Statements of Assets and Liabilities - (Continued) | |
April 30, 2013 (Unaudited) | |
GLOBAL
OPPORTUNITIES FUND |
REAL
RETURN FUND a |
|||||||
ASSETS: | ||||||||
Investments, at value | $ | 6,952,231,107 | $ | 1,989,340,394 | ||||
Foreign currency, at value (Cost $6,413,351 and $0, respectively) | 6,526,668 | — | ||||||
Cash | 18,037 | 520 | ||||||
Segregated cash for futures contracts (Note 4) | 288,560 | 63,434,333 | ||||||
Due from broker for collateral | 10,704,268 | 3,710,000 | ||||||
Structured option contracts, at value (premium received $45,159,215 and $0, respectively) | 105,561,700 | — | ||||||
Dividends and interest receivable | 41,366,214 | 2,092,167 | ||||||
Receivable for Fund shares sold | 2,900,100 | 1,056,957 | ||||||
Receivable for investments sold | 53,828,733 | 4,213,849 | ||||||
Unrealized appreciation on swap contracts | 13,501,540 | 36,724,736 | ||||||
Unrealized appreciation on forward foreign currency exchange contracts | 39,797,754 | — | ||||||
Variation margin | — | 1,154,691 | ||||||
Prepaid expenses | 49,150 | 38,582 | ||||||
Total Assets | 7,226,773,831 | 2,101,766,229 | ||||||
LIABILITIES: | ||||||||
Payable to broker for collateral | 46,020,000 | — | ||||||
Securities sold short, at value (Proceeds $5,204,141 and $0, respectively) | 5,229,688 | — | ||||||
Written option contracts, at value (premium received $114,702,364 and $15,076,050, respectively) | 144,285,972 | 12,285,188 | ||||||
Payable for Fund shares redeemed | 1,018,739 | 71,562 | ||||||
Payable for investments purchased | 21,610,523 | 22,877,248 | ||||||
Unrealized depreciation on swap contracts | 9,990,764 | 43,376,026 | ||||||
Unrealized depreciation on forward foreign currency exchange contracts | 29,965,580 | — | ||||||
Variation margin | 75,000 | — | ||||||
Deferred tax liability payable (Note 9) | 821,583 | — | ||||||
Accrued expenses and other payables: | ||||||||
Investment advisory | 5,099,516 | 1,316,582 | ||||||
Administration | 351,371 | 112,739 | ||||||
Shareholder servicing fee | 1,126,140 | 328,429 | ||||||
Custody | 48,001 | 18,409 | ||||||
Legal and Audit | 398,525 | 141,549 | ||||||
Other | 107,354 | 36,441 | ||||||
Total Liabilities | 266,148,756 | 80,564,173 | ||||||
NET ASSETS | $ | 6,960,625,075 | $ | 2,021,202,056 | ||||
NET ASSETS consist of: | ||||||||
Capital paid-in | $ | 6,452,446,544 | $ | 2,659,762,501 | ||||
Accumulated undistributed (distributions in excess of) net investment income | 56,927,024 | (123,259,910 | ) | |||||
Accumulated undistributed net realized loss on investments, futures contracts, swap contracts, written options and foreign currency transactions | (31,970,644 | ) | (556,275,662 | ) | ||||
Net unrealized appreciation/(depreciation) on investments, securities sold short, futures contracts, swap agreements, written options and foreign currency transactions | 483,222,151 | 40,975,127 | ||||||
NET ASSETS | $ | 6,960,625,075 | $ | 2,021,202,056 | ||||
Net Asset Value, maximum offering price and redemption price per share | $ | 8.04 | $ | 8.73 | ||||
Number of shares authorized | 3,500,000,000 | 3,500,000,000 | ||||||
SHARES OF CAPITAL STOCK OUTSTANDING | 866,279,906 | 231,412,613 | ||||||
INVESTMENTS, AT COST | $ | 6,601,522,386 | $ | 1,937,026,972 |
a | Consolidated Statement of Assets and Liabilities. |
See Notes to Financial Statements.
91 |
|
Old Westbury Funds, Inc. | |
Statements of Assets and Liabilities - (Continued) | |
April 30, 2013 (Unaudited) | |
FIXED
INCOME FUND |
MUNICIPAL
BOND FUND |
|||||||
ASSETS: | ||||||||
Investments, at value | $ | 517,088,479 | $ | 1,214,036,433 | ||||
Cash | 84 | 84 | ||||||
Dividends and interest receivable | 3,055,068 | 13,434,770 | ||||||
Receivable for fund shares sold | 688,155 | 836,103 | ||||||
Receivable for investments sold | 626,417 | 10,000,000 | ||||||
Prepaid expenses | 18,523 | 27,429 | ||||||
Total Assets | 521,476,726 | 1,238,334,819 | ||||||
LIABILITIES: | ||||||||
Payable for Fund shares redeemed | 37,665 | 2,275,334 | ||||||
Payable for investments purchased | 10,273,134 | 21,233,275 | ||||||
Accrued expenses and other payables: | ||||||||
Investment advisory | 187,872 | 409,766 | ||||||
Administration | 29,332 | 63,709 | ||||||
Shareholder servicing fee | 41,831 | 99,464 | ||||||
Custody | 6,275 | 14,919 | ||||||
Legal and Audit | 24,263 | 45,068 | ||||||
Other | 11,827 | 22,855 | ||||||
Total Liabilities | 10,612,199 | 24,164,390 | ||||||
NET ASSETS | $ | 510,864,527 | $ | 1,214,170,429 | ||||
NET ASSETS consist of: | ||||||||
Capital paid-in | $ | 497,201,454 | $ | 1,163,515,895 | ||||
Accumulated undistributed (distributions in excess of) net investment income | (481,086 | ) | 1,256,159 | |||||
Accumulated undistributed net realized gain on investments | 563,354 | 3,307,088 | ||||||
Net unrealized appreciation/(depreciation) on investments | 13,580,805 | 46,091,287 | ||||||
NET ASSETS | $ | 510,864,527 | $ | 1,214,170,429 | ||||
Net Asset Value, maximum offering price and redemption price per share | $ | 11.58 | $ | 12.22 | ||||
Number of shares authorized | 2,000,000,000 | 2,000,000,000 | ||||||
SHARES OF CAPITAL STOCK OUTSTANDING | 44,112,758 | 99,355,580 | ||||||
INVESTMENTS, AT COST | $ | 503,507,674 | $ | 1,167,945,146 |
See Notes to Financial Statements.
92 |
|
Old Westbury Funds, Inc. | |
Statements of Operations | |
For the Period Ended April 30, 2013 (Unaudited) | |
See Notes to Financial Statements.
93 |
|
Old Westbury Funds, Inc. | |
Statements of Operations - (Continued) | |
For the Period Ended April 30, 2013 (Unaudited) | |
a | Consolidated Statement of Operations. |
See Notes to Financial Statements.
94 |
|
Old Westbury Funds, Inc. | |
Statements of Operations - (Continued) | |
For the Period Ended April 30, 2013 (Unaudited) | |
FIXED | MUNICIPAL | |||||||
INCOME | BOND | |||||||
FUND | FUND | |||||||
INVESTMENT INCOME: | ||||||||
Interest | $ | 5,019,748 | $ | 11,669,529 | ||||
Dividends | 333 | 1,449 | ||||||
Total investment income | 5,020,081 | 11,670,978 | ||||||
EXPENSES: | ||||||||
Investment advisory fees | 1,111,814 | 2,364,252 | ||||||
Shareholder servicing fees | 494,495 | 1,138,477 | ||||||
Administration and Accounting fees | 123,624 | 268,417 | ||||||
Custodian fees | 37,087 | 85,386 | ||||||
Directors fees and expenses | 11,137 | 25,132 | ||||||
Insurance premiums | 8,502 | 9,991 | ||||||
Legal and Audit fees | 20,532 | 39,392 | ||||||
Printing and postage fees | 2,399 | 5,750 | ||||||
Registration fees | 15,522 | 24,682 | ||||||
Transfer agent fees | 32,098 | 64,065 | ||||||
Miscellaneous expenses | 15,387 | 28,486 | ||||||
Total expenses | 1,872,597 | 4,054,030 | ||||||
Expenses waived by Adviser and/or Shareholder Servicing Agent (Note 6) | (247,248 | ) | (569,238 | ) | ||||
Net expenses | 1,625,349 | 3,484,792 | ||||||
NET INVESTMENT INCOME | 3,394,732 | 8,186,186 | ||||||
NET REALIZED AND UNREALIZED GAIN/(LOSS) ON INVESTMENTS | ||||||||
Net realized gains/(loss) on: | ||||||||
Investments | 2,959,174 | 3,308,438 | ||||||
Net change in unrealized appreciation/(depreciation) on: | ||||||||
Investments | (2,494,116 | ) | (2,733,358 | ) | ||||
Net realized and change in unrealized gain (loss) on investments | 465,058 | 575,080 | ||||||
NET INCREASE IN NET ASSETS RESULTING FROM OPERATIONS | $ | 3,859,790 | $ | 8,761,266 |
See Notes to Financial Statements.
95 |
|
Old Westbury Funds, Inc. | |
Statements of Changes in Net Assets | |
LARGE CAP CORE FUND | ||||||||
FOR THE PERIOD
ENDED APRIL 30, 2013 |
FOR THE YEAR
ENDED OCTOBER 31, 2012 |
|||||||
(Unaudited) | ||||||||
FROM OPERATIONS: | ||||||||
Net investment income | $ | 4,839,553 | $ | 9,225,549 | ||||
Net realized gain/(loss) on investments and foreign currency transactions | 22,660,717 | 10,421,344 | ||||||
Net change in unrealized appreciation/(depreciation) on investments, foreign currency transactions, net of deferred taxes | 52,417,343 | 3,659,502 | ||||||
Net increase/(decrease) in net assets resulting from operations | 79,917,613 | 23,306,395 | ||||||
DISTRIBUTIONS TO SHAREHOLDERS FROM: | ||||||||
Net investment income | (11,135,002 | ) | (1,799,045 | ) | ||||
Capital gains | — | — | ||||||
Net decrease in net assets from distributions | (11,135,002 | ) | (1,799,045 | ) | ||||
CAPITAL STOCK TRANSACTIONS (DOLLARS): | ||||||||
Proceeds from sale of capital stock | 124,435,998 | 227,451,155 | ||||||
Reinvestment of distributions | 2,457,809 | 527,506 | ||||||
Value of capital stock redeemed | (51,760,986 | ) | (191,061,660 | ) | ||||
Net increase/(decrease) in net assets resulting from capital stock transactions | 75,132,821 | 36,917,001 | ||||||
Net increase/(decrease) in net assets | 143,915,432 | 58,424,351 | ||||||
NET ASSETS: | ||||||||
Beginning of period | 569,709,958 | 511,285,607 | ||||||
End of period | $ | 713,625,390 | $ | 569,709,958 | ||||
Undistributed (distributions in excess of) net investment income | $ | 2,898,029 | $ | 9,193,478 | ||||
CAPITAL SHARE TRANSACTIONS: | ||||||||
Shares sold | 10,383,903 | 20,630,526 | ||||||
Shares issued as reinvestment of distributions | 215,023 | 48,798 | ||||||
Shares redeemed | (4,356,616 | ) | (17,232,357 | ) | ||||
Net increase/(decrease) in shares outstanding | 6,242,310 | 3,446,967 |
See Notes to Financial Statements.
96 |
|
Old Westbury Funds, Inc. | |
Statements of Changes in Net Assets - (Continued) | |
LARGE CAP STRATEGIES FUND | GLOBAL SMALL & MID CAP FUND | |||||||||||||
FOR
THE PERIOD
ENDED APRIL 30, 2013 |
FOR
THE YEAR
ENDED OCTOBER 31, 2012 |
FOR
THE PERIOD
ENDED APRIL 30, 2013 |
FOR
THE YEAR
ENDED OCTOBER 31, 2012 |
|||||||||||
(Unaudited) | (Unaudited) | |||||||||||||
$ | 38,800,650 | $ | 30,708,125 | $ | 17,502,967 | $ | 37,392,195 | |||||||
88,895,529 | 24,595,187 | 214,380,153 | 301,023,862 | |||||||||||
479,675,094 | 183,749,867 | 512,748,097 | 9,184,903 | |||||||||||
607,371,273 | 239,053,179 | 744,631,217 | 347,600,960 | |||||||||||
(31,236,691 | ) | (39,492,778 | ) | (53,962,533 | ) | (31,191,443 | ) | |||||||
— | — | (217,032,970 | ) | (218,242,882 | ) | |||||||||
(31,236,691 | ) | (39,492,778 | ) | (270,995,503 | ) | (249,434,325 | ) | |||||||
2,033,601,857 | 2,207,393,313 | 628,874,036 | 691,698,417 | |||||||||||
6,248,915 | 948,386 | 119,586,897 | 129,458,271 | |||||||||||
(211,765,112 | ) | (706,812,556 | ) | (401,232,980 | ) | (780,043,597 | ) | |||||||
1,828,085,660 | 1,501,529,143 | 347,227,953 | 41,113,091 | |||||||||||
2,404,220,242 | 1,701,089,544 | 820,863,667 | 139,279,726 | |||||||||||
4,145,803,930 | 2,444,714,386 | 4,876,906,727 | 4,737,627,001 | |||||||||||
$ | 6,550,024,172 | $ | 4,145,803,930 | $ | 5,697,770,394 | $ | 4,876,906,727 | |||||||
$ | 32,068,303 | $ | 24,504,344 | $ | (7,070,030 | ) | $ | 29,389,536 | ||||||
194,208,641 | 236,820,110 | 41,263,857 | 47,651,396 | |||||||||||
629,297 | 108,895 | 8,253,064 | 9,666,744 | |||||||||||
(21,015,261 | ) | (76,962,480 | ) | (26,689,087 | ) | (54,591,296 | ) | |||||||
173,822,677 | 159,966,525 | 22,827,834 | 2,726,844 |
See Notes to Financial Statements.
97 |
|
Old Westbury Funds, Inc. | |
Statements of Changes in Net Assets - (Continued) | |
GLOBAL OPPORTUNITIES FUND | REAL RETURN FUND a | |||||||||||||||
FOR THE PERIOD
ENDED APRIL 30, 2013 |
FOR THE YEAR
ENDED OCTOBER 31, 2012 |
FOR THE PERIOD
ENDED APRIL 30, 2013 |
FOR THE YEAR
ENDED OCTOBER 31, 2012 |
|||||||||||||
(Unaudited) | (Unaudited) | |||||||||||||||
FROM OPERATIONS: | ||||||||||||||||
Net investment income (loss) | $ | 78,721,524 | $ | 159,809,632 | $ | (397,092 | ) | $ | 7,595,894 | |||||||
Net realized gain/(loss) on investments, swap agreements, futures contracts, written options and foreign currency transactions | 199,571,685 | 34,175,782 | (187,742,803 | ) | (256,608,817 | ) | ||||||||||
Net change in unrealized appreciation/ (depreciation) on investments, securities sold short, futures contracts, written options, swap agreements, foreign currency transactions, net of deferred taxes | 369,521,251 | 241,288,141 | 1,526,019 | 64,468,039 | ||||||||||||
Net increase/(decrease) in net assets resulting from operations | 647,814,460 | 435,273,555 | (186,613,876 | ) | (184,544,884 | ) | ||||||||||
DISTRIBUTIONS TO SHAREHOLDERS FROM: | ||||||||||||||||
Net investment income | (163,276,522 | ) | (219,141,690 | ) | (5,157,087 | ) | (6,986,284 | ) | ||||||||
Capital gains | — | — | — | — | ||||||||||||
Net decrease in net assets from distributions | (163,276,522 | ) | (219,141,690 | ) | (5,157,087 | ) | (6,986,284 | ) | ||||||||
CAPITAL STOCK TRANSACTIONS (DOLLARS): | ||||||||||||||||
Proceeds from sale of capital stock | 858,508,189 | 3,236,280,105 | 259,154,600 | 623,406,611 | ||||||||||||
Reinvestment of distributions | 33,120,452 | 49,818,157 | 1,088,907 | 1,706,123 | ||||||||||||
Value of capital stock redeemed | (1,438,683,549 | ) | (863,081,781 | ) | (184,198,653 | ) | (1,044,524,425 | ) | ||||||||
Net increase/(decrease) in net assets resulting from capital stock transactions | (547,054,908 | ) | 2,423,016,481 | 76,044,854 | (419,411,691 | ) | ||||||||||
Net increase/(decrease) in net assets | (62,516,970 | ) | 2,639,148,346 | (115,726,109 | ) | (610,942,859 | ) | |||||||||
NET ASSETS: | ||||||||||||||||
Beginning of period | 7,023,142,045 | 4,383,993,699 | 2,136,928,165 | 2,747,871,024 | ||||||||||||
End of period | $ | 6,960,625,075 | $ | 7,023,142,045 | $ | 2,021,202,056 | $ | 2,136,928,165 | ||||||||
Undistributed (distributions in excess of) net investment income | $ | 56,927,024 | $ | 141,482,022 | $ | (123,259,910 | ) | $ | (117,705,731 | ) | ||||||
CAPITAL SHARE TRANSACTIONS: | ||||||||||||||||
Shares sold | 111,148,863 | 445,049,456 | 28,242,969 | 64,888,854 | ||||||||||||
Shares issued as reinvestment of distributions | 4,381,012 | 7,350,425 | 115,595 | 187,486 | ||||||||||||
Shares redeemed | (184,561,538 | ) | (123,098,643 | ) | (19,943,413 | ) | (110,753,944 | ) | ||||||||
Net increase/(decrease) in shares outstanding | (69,031,663 | ) | 329,301,238 | 8,415,151 | (45,677,604 | ) |
a | Consolidated Statements of Changes in Net Assets. |
See Notes to Financial Statements.
98 |
|
Old Westbury Funds, Inc. | |
Statements of Changes in Net Assets - (Continued) | |
FIXED INCOME FUND | MUNICIPAL BOND FUND | |||||||||||||
FOR THE PERIOD
ENDED APRIL 30, 2013 |
FOR THE YEAR
ENDED OCTOBER 31, 2012 |
FOR THE PERIOD
ENDED APRIL 30, 2013 |
FOR THE YEAR
ENDED OCTOBER 31, 2012 |
|||||||||||
(Unaudited) | (Unaudited) | |||||||||||||
$ | 3,394,732 | $ | 7,962,938 | $ | 8,186,186 | $ | 15,838,194 | |||||||
2,959,174 | 6,094,287 | 3,308,438 | 10,395,767 | |||||||||||
(2,494,116 | ) | 2,081,185 | (2,733,358 | ) | 22,320,353 | |||||||||
3,859,790 | 16,138,410 | 8,761,266 | 48,554,314 | |||||||||||
(4,698,895 | ) | (11,049,872 | ) | (8,269,008 | ) | (15,863,357 | ) | |||||||
(2,479,758 | ) | (9,905,390 | ) | (10,396,746 | ) | (2,446,002 | ) | |||||||
(7,178,653 | ) | (20,955,262 | ) | (18,665,754 | ) | (18,309,359 | ) | |||||||
60,088,177 | 114,856,245 | 242,599,845 | 323,340,721 | |||||||||||
2,780,607 | 9,968,752 | 5,061,754 | 4,261,508 | |||||||||||
(39,996,670 | ) | (85,762,113 | ) | (122,336,419 | ) | (195,153,277 | ) | |||||||
22,872,114 | 39,062,884 | 125,325,180 | 132,448,952 | |||||||||||
19,553,251 | 34,246,032 | 115,420,692 | 162,693,907 | |||||||||||
491,311,276 | 457,065,244 | 1,098,749,737 | 936,055,830 | |||||||||||
$ | 510,864,527 | $ | 491,311,276 | $ | 1,214,170,429 | $ | 1,098,749,737 | |||||||
$ | (481,086 | ) | $ | 823,077 | $ | 1,256,159 | $ | 1,338,981 | ||||||
5,202,544 | 9,903,721 | 19,878,689 | 26,443,791 | |||||||||||
240,344 | 867,348 | 412,646 | 351,244 | |||||||||||
(3,457,715 | ) | (7,380,916 | ) | (10,011,909 | ) | (15,975,282 | ) | |||||||
1,985,173 | 3,390,153 | 10,279,426 | 10,819,753 |
See Notes to Financial Statements.
99 |
|
Old Westbury Funds, Inc. | |
Large Cap Core Fund | |
Financial Highlights | |
For a Share Outstanding Throughout Each Period.
SIX MONTHS
ENDED |
||||||||||||||||||||||||
APRIL 30, 2013 | YEAR ENDED OCTOBER 31, | |||||||||||||||||||||||
(Unaudited) | 2012 | 2011 | 2010 | 2009 | 2008 | |||||||||||||||||||
Net asset value, beginning of period | $ | 11.53 | $ | 11.13 | $ | 11.48 | $ | 10.67 | $ | 9.99 | $ | 15.89 | ||||||||||||
Investment operations: | ||||||||||||||||||||||||
Net investment income | 0.09 | a | 0.19 | a | 0.06 | a | 0.05 | a | 0.07 | a | 0.09 | a | ||||||||||||
Net realized and unrealized gains/(losses) on investments | 1.43 | 0.25 | (0.35 | ) | 0.79 | 0.65 | (5.18 | ) | ||||||||||||||||
Total from investment operations | 1.52 | 0.44 | (0.29 | ) | 0.84 | 0.72 | (5.09 | ) | ||||||||||||||||
Distributions: | ||||||||||||||||||||||||
Net investment income | (0.23 | ) | (0.04 | ) | (0.06 | ) | (0.03 | ) | (0.04 | ) | (0.09 | ) | ||||||||||||
Net realized gains | — | — | — | — | — | (0.72 | ) | |||||||||||||||||
Total distributions | (0.23 | ) | (0.04 | ) | (0.06 | ) | (0.03 | ) | (0.04 | ) | (0.81 | ) | ||||||||||||
Net asset value, end of period | $ | 12.82 | $ | 11.53 | $ | 11.13 | $ | 11.48 | $ | 10.67 | $ | 9.99 | ||||||||||||
Total return | 13.4 | % b | 3.9 | % | (2.6 | )% | 7.9 | % | 7.3 | % | (33.6 | )% | ||||||||||||
Annualized ratios/supplemental data: | ||||||||||||||||||||||||
Net assets at end of period (000’s) | $ | 713,625 | $ | 569,710 | $ | 511,286 | $ | 533,919 | $ | 417,298 | $ | 337,109 | ||||||||||||
Ratio of expenses to average net assets before expense waivers | 1.03 | % c | 1.07 | % | 1.00 | % d | 1.01 | % | 1.03 | % | 1.03 | % | ||||||||||||
Ratio of expenses to average net assets after
expense waivers |
|
|
1.00 |
% c |
|
|
1.00 |
% |
|
|
1.00 |
% |
|
|
1.00 |
% |
|
|
1.00 |
% |
|
|
1.00 |
% |
Ratio of net investment income to average net assets | 1.57 | % c | 1.69 | % | 0.46 | % | 0.41 | % | 0.75 | % | 0.63 | % | ||||||||||||
Portfolio turnover rate | 33 | % b | 86 | % | 72 | % | 64 | % | 68 | % | 95 | % |
a | Calculated using the average shares method for the period. |
b | Not Annualized. |
c | Annualized. |
d | There were no voluntary fee reductions during the period. |
See Notes to Financial Statements.
100 |
|
Old Westbury Funds, Inc. | |
Large Cap Strategies Fund | |
Financial Highlights | |
For a Share Outstanding Throughout Each Period.
SIX MONTHS
ENDED APRIL 30, 2013 |
YEAR ENDED OCTOBER 31, | |||||||||||||||||||||||
(Unaudited) | 2012 | 2011 | 2010 | 2009 | 2008 | |||||||||||||||||||
Net asset value, beginning of period | $ | 9.69 | $ | 9.12 | $ | 10.11 | $ | 8.95 | $ | 7.96 | $ | 15.04 | ||||||||||||
Investment operations: | ||||||||||||||||||||||||
Net investment income | 0.08 | a | 0.09 | a | 0.13 | a | 0.09 | a | 0.11 | a | 0.19 | a | ||||||||||||
Net realized and unrealized gains/(losses) on investments and foreign currency transactions | 1.19 | 0.63 | (1.04 | ) | 1.20 | 1.08 | (5.69 | ) | ||||||||||||||||
Total from investment operations | 1.27 | 0.72 | (0.91 | ) | 1.29 | 1.19 | (5.50 | ) | ||||||||||||||||
Distributions: | ||||||||||||||||||||||||
Net investment income | (0.07 | ) | (0.15 | ) | (0.08 | ) | (0.13 | ) | (0.20 | ) | (0.17 | ) | ||||||||||||
Net realized gains | — | — | — | — | — | (1.41 | ) | |||||||||||||||||
Total distributions | (0.07 | ) | (0.15 | ) | (0.08 | ) | (0.13 | ) | (0.20 | ) | (1.58 | ) | ||||||||||||
Net asset value, end of period | $ | 10.89 | $ | 9.69 | $ | 9.12 | $ | 10.11 | $ | 8.95 | $ | 7.96 | ||||||||||||
Total return | 13.2 | % b | 8.0 | % | (9.1 | )% | 14.6 | % | 15.5 | % | (40.5 | )% | ||||||||||||
Annualized ratios/supplemental data: | ||||||||||||||||||||||||
Net assets at end of period (000’s) | $ | 6,550,024 | $ | 4,145,804 | $ | 2,444,714 | $ | 2,598,797 | $ | 2,044,236 | $ | 1,699,942 | ||||||||||||
Ratio of expenses to average net assets before expense waivers | 1.15 | % c | 1.18 | % | 1.08 | % | 1.09 | % | 1.11 | % | 1.11 | % | ||||||||||||
Ratio of expenses to average net assets after expense waivers | 1.15 | % c | 1.15 | % | 1.05 | % | 1.05 | % | 1.05 | % | 1.10 | % | ||||||||||||
Ratio of net investment income to average net assets | 1.56 | % c | 0.93 | % | 1.29 | % | 1.02 | % | 1.36 | % | 1.72 | % | ||||||||||||
Portfolio turnover rate | 19 | % b | 55 | % | 158 | % d | 64 | % | 86 | % | 66 | % |
a | Calculated using the average shares method for the period. |
b | Not Annualized. |
c | Annualized. |
d | The significant increase in rate is due to repositioning in October 2011 to reflect change in investment strategy. |
See Notes to Financial Statements.
101 |
|
Old Westbury Funds, Inc. | |
Global Small & Mid Cap Fund | |
Financial Highlights | |
For a Share Outstanding Throughout Each Period.
SIX MONTHS
ENDED APRIL 30, 2013 |
YEAR ENDED OCTOBER 31, | |||||||||||||||||||||||
(Unaudited) | 2012 | 2011 | 2010 | 2009 | 2008 | |||||||||||||||||||
Net asset value, beginning of period | $ | 14.64 | $ | 14.34 | $ | 14.78 | $ | 12.05 | $ | 9.83 | $ | 15.45 | ||||||||||||
Investment operations: | ||||||||||||||||||||||||
Net investment income | 0.05 | a | 0.11 | a | 0.09 | a | 0.04 | a | 0.02 | a | 0.08 | a | ||||||||||||
Net realized and unrealized gains/(losses) on investments, foreign currency transactions and deferred taxes | 2.14 | 0.95 | 0.14 | 2.79 | 2.23 | (4.53 | ) | |||||||||||||||||
Total from investment operations | 2.19 | 1.06 | 0.23 | 2.83 | 2.25 | (4.45 | ) | |||||||||||||||||
Distributions: | ||||||||||||||||||||||||
Net investment income | (0.16 | ) | (0.10 | ) | (0.08 | ) | (0.10 | ) | (0.03 | ) | (0.07 | ) | ||||||||||||
Net realized gains | (0.66 | ) | (0.66 | ) | (0.59 | ) | — | — | (1.10 | ) | ||||||||||||||
Total distributions | (0.82 | ) | (0.76 | ) | (0.67 | ) | (0.10 | ) | (0.03 | ) | (1.17 | ) | ||||||||||||
Net asset value, end of period | $ | 16.01 | $ | 14.64 | $ | 14.34 | $ | 14.78 | $ | 12.05 | $ | 9.83 | ||||||||||||
Total return | 15.6 | % b | 8.0 | % | 1.3 | % | 23.7 | % | 22.9 | % | (30.4 | )% | ||||||||||||
Annualized ratios/supplemental data: | ||||||||||||||||||||||||
Net assets at end of period (000’s) | $ | 5,697,770 | $ | 4,876,907 | $ | 4,737,627 | $ | 4,147,915 | $ | 3,219,533 | $ | 2,941,943 | ||||||||||||
Ratio of expenses to average net assets before expense waivers | 1.16 | % c,d | 1.17 | % d | 1.18 | % d | 1.14 | % d | 1.11 | % d | 1.12 | % d | ||||||||||||
Ratio of expenses to average net assets after expense waivers | 1.11 | % c,d | 1.11 | % d | 1.11 | % d | 1.11 | % d | 1.11 | % d | 1.11 | % d | ||||||||||||
Ratio of net investment income to average net assets | 0.67 | % c | 0.78 | % | 0.62 | % | 0.34 | % | 0.21 | % | 0.66 | % | ||||||||||||
Portfolio turnover rate | 12 | % b | 28 | % | 37 | % | 39 | % | 30 | % | 36 | % |
a | Calculated using the average shares method for the period. |
b | Not Annualized. |
c | Annualized. |
d | When counterparties post cash collateral with respect to various swap transactions, the Fund invests the collateral and receives interest income and pays interest expense back to the counterparty. The interest income is included in investment income on the Statements of Operations, and the interest expense is included in the Fund’s overall expense ratio. |
See Notes to Financial Statements.
102 |
|
Old Westbury Funds, Inc. | |
Global Opportunities Fund | |
Financial Highlights | |
For a Share Outstanding Throughout Each Period.
SIX MONTHS
ENDED |
PERIOD | |||||||||||||||||||||||
APRIL 30, 2013 | YEAR ENDED OCTOBER 31, | ENDED | ||||||||||||||||||||||
(Unaudited) | 2012 | 2011 | 2010 | 2009 | 10/31/08 a | |||||||||||||||||||
Net asset value, beginning of period | $ | 7.51 | $ | 7.23 | $ | 7.99 | $ | 6.98 | $ | 6.58 | $ | 10.00 | ||||||||||||
Investment operations: | ||||||||||||||||||||||||
Net investment income | 0.09 | b | 0.22 | b | 0.32 | b | 0.40 | b | 0.30 | b | 0.16 | b | ||||||||||||
Net realized and unrealized gains/(losses) on investments, securities sold short, futures contracts, swap agreements, written options, foreign currency transactions and deferred taxes | 0.62 | 0.41 | (0.48 | ) | 0.78 | 0.65 | (3.56 | ) | ||||||||||||||||
Total from investment operations | 0.71 | 0.63 | (0.16 | ) | 1.18 | 0.95 | (3.40 | ) | ||||||||||||||||
Distributions: | ||||||||||||||||||||||||
Net investment income | (0.18 | ) | (0.35 | ) | (0.60 | ) | (0.17 | ) | (0.55 | ) | (0.02 | ) | ||||||||||||
Total distributions | (0.18 | ) | (0.35 | ) | (0.60 | ) | (0.17 | ) | (0.55 | ) | (0.02 | ) | ||||||||||||
Net asset value, end of period | $ | 8.04 | $ | 7.51 | $ | 7.23 | $ | 7.99 | $ | 6.98 | $ | 6.58 | ||||||||||||
Total return | 9.5 | % c | 9.4 | % | (2.4 | )% | 17.2 | % | 16.3 | % | (34.0 | )% c | ||||||||||||
Annualized ratios/supplemental data: | ||||||||||||||||||||||||
Net assets at end of period (000’s) | $ | 6,960,625 | $ | 7,023,142 | $ | 4,383,994 | $ | 4,033,365 | $ | 3,017,633 | $ | 1,168,551 | ||||||||||||
Ratio of expenses to average net assets before expense waivers | 1.32 | % d,e | 1.35 | % e | 1.36 | % e | 1.30 | % e | 1.33 | %e | 1.36 | % d | ||||||||||||
Ratio of expenses to average net assets after expense waivers | 1.20 | % d,e | 1.20 | % e | 1.20 | % e | 1.20 | % e | 1.23 | % e,f | 1.35 | % d | ||||||||||||
Ratio of net investment income to average net assets | 2.23 | % d | 3.09 | % | 4.07 | % | 5.46 | % | 4.70 | % | 1.98 | % d | ||||||||||||
Portfolio turnover rate | 46 | % c | 122 | % | 84 | % | 62 | % | 111 | % | 145 | % c |
a | For the period from November 28, 2007 (commencement of operations) to October 31, 2008. |
b | Calculated using the average shares method for the period. |
c | Not Annualized. |
d | Annualized. |
e | When counterparties post cash collateral with respect to various swap transactions, the Fund invests the collateral and receives interest income and pays interest expense back to the counterparty. The interest income is included in investment income on the Statements of Operations, and the interest expense is included in the Fund’s overall expense ratio. |
f | The fund incurred interest expense for the fiscal year ended October 31, 2009. If interest expense had not been incurred, the ratio of annualized operating expenses to average net assets for the fiscal year ended October 31, 2009 would have been 1.22% |
See Notes to Financial Statements.
103 |
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Old Westbury Funds, Inc. | |
Real Return Fund | |
Financial highlights | |
For a Share Outstanding Throughout Each Period.
SIX MONTH
ENDED |
||||||||||||||||||||||||
APRIL 30, 2013 a | YEAR ENDED OCTOBER 31, | |||||||||||||||||||||||
(Unaudited) | 2012 a | 2011 a | 2010 a | 2009 a | 2008 | |||||||||||||||||||
Net asset value, beginning of period | $ | 9.58 | $ | 10.23 | $ | 10.50 | $ | 9.52 | $ | 8.34 | $ | 13.73 | ||||||||||||
Investment operations: | ||||||||||||||||||||||||
Net investment income | 0.00 | b,c | 0.03 | c | 0.00 | b,c | 0.02 | c | 0.00 | b,c | 0.21 | c | ||||||||||||
Net realized and unrealized gains/(losses) on investments, futures contracts, swap agreements, written options and foreign currency transactions | (0.83 | ) | (0.65 | ) | 0.42 | 1.05 | 1.39 | (4.50 | ) | |||||||||||||||
Total from investment operations | (0.83 | ) | (0.62 | ) | 0.42 | 1.07 | 1.39 | (4.29 | ) | |||||||||||||||
Distributions: | ||||||||||||||||||||||||
Net investment income | (0.02 | ) | (0.03 | ) | (0.69 | ) | (0.09 | ) | (0.21 | ) | (0.11 | ) | ||||||||||||
Net realized gains | — | — | — | — | — | (0.99 | ) | |||||||||||||||||
Total distributions | (0.02 | ) | (0.03 | ) | (0.69 | ) | (0.09 | ) | (0.21 | ) | (1.10 | ) | ||||||||||||
Net asset value, end of period | $ | 8.73 | $ | 9.58 | $ | 10.23 | $ | 10.50 | $ | 9.52 | $ | 8.34 | ||||||||||||
Total return | (8.7 | )% d | (6.1 | )% | 3.9 | % | 11.3 | % | 17.1 | % | (34.2 | )% | ||||||||||||
Annualized ratios/supplemental data: | ||||||||||||||||||||||||
Net assets at end of period (000’s) | $ | 2,021,202 | $ | 2,136,928 | $ | 2,747,871 | $ | 1,972,934 | $ | 1,605,227 | $ | 1,371,944 | ||||||||||||
Ratio of expenses to average net assets before expense waivers | 1.15 | % e,f | 1.16 | % f | 1.15 | % f | 1.10 | % f | 1.10 | % f | 1.25 | % f | ||||||||||||
Ratio of expenses to average net assets after expense waivers | 1.10 | % e,f | 1.10 | % f | 1.10 | % f | 1.08 | % f | 1.10 | % f | 1.08 | % f | ||||||||||||
Ratio of net investment income to average net assets | (0.04 | )% e | 0.31 | % | (0.03 | )% | 0.18 | % | 0.00 | % g | 1.54 | % | ||||||||||||
Portfolio turnover rate | 36 | % d | 83 | % | 109 | % | 64 | % | 75 | % | 88 | % |
a | Consolidated Financial Highlights. |
b | Less than $0.01 or $(0.01) per share. |
c | Calculated using the average shares method for the period. |
d | Not Annualized. |
e | Annualized. |
f | When counterparties post cash collateral with respect to various swap transactions, the Fund invests the collateral and receives interest income and pays interest expense back to the counterparty. The interest income is included in investment income on the Statements of Operations, and the interest expense is included in the Fund’s overall expense ratio. |
g | Less than 0.01%. |
See Notes to Financial Statements.
104 |
|
Old Westbury Funds, Inc. | |
Fixed Income Fund | |
Financial Highlights | |
For a Share Outstanding Throughout Each Period.
SIX MONTHS | ||||||||||||||||||||||||
ENDED | ||||||||||||||||||||||||
APRIL 30, 2013 | YEAR ENDED OCTOBER 31, | |||||||||||||||||||||||
(Unaudited) | 2012 | 2011 | 2010 | 2009 | 2008 | |||||||||||||||||||
Net asset value, beginning of period | $ | 11.66 | $ | 11.80 | $ | 11.94 | $ | 11.77 | $ | 11.08 | $ | 10.88 | ||||||||||||
Investment operations: | ||||||||||||||||||||||||
Net investment income | 0.08 | a | 0.20 | a | 0.27 | a | 0.31 | a | 0.38 | a | 0.44 | a | ||||||||||||
Net realized and unrealized gains/(losses) on investments | 0.01 | 0.20 | (0.06 | ) | 0.45 | 0.83 | 0.22 | |||||||||||||||||
Total from investment operations | 0.09 | 0.40 | 0.21 | 0.76 | 1.21 | 0.66 | ||||||||||||||||||
Distributions: | ||||||||||||||||||||||||
Net investment income | (0.11 | ) | (0.28 | ) | (0.32 | ) | (0.48 | ) | (0.39 | ) | (0.44 | ) | ||||||||||||
Net realized gains | (0.06 | ) | (0.26 | ) | (0.03 | ) | (0.11 | ) | (0.13 | ) | (0.02 | ) | ||||||||||||
Total distributions | (0.17 | ) | (0.54 | ) | (0.35 | ) | (0.59 | ) | (0.52 | ) | (0.46 | ) | ||||||||||||
Net asset value, end of period | $ | 11.58 | $ | 11.66 | $ | 11.80 | $ | 11.94 | $ | 11.77 | $ | 11.08 | ||||||||||||
Total return | 0.8 | % b | 3.5 | % | 1.9 | % | 6.7 | % | 11.1 | % | 6.2 | % | ||||||||||||
Annualized ratios/supplemental data: | ||||||||||||||||||||||||
Net assets at end of period (000’s) | $ | 510,865 | $ | 491,311 | $ | 457,065 | $ | 427,445 | $ | 306,888 | $ | 171,444 | ||||||||||||
Ratio of expenses to average net assets before expense waivers | 0.76 | % c | 0.76 | % | 0.76 | % | 0.78 | % | 0.80 | % | 0.82 | % | ||||||||||||
Ratio of expenses to average net assets after expense waivers | 0.66 | % c | 0.66 | % | 0.66 | % | 0.68 | % | 0.70 | % | 0.70 | % | ||||||||||||
Ratio of net investment income to average net assets | 1.37 | % c | 1.69 | % | 2.29 | % | 2.63 | % | 3.31 | % | 3.92 | % | ||||||||||||
Portfolio turnover rate | 54 | % b | 64 | % | 76 | % | 26 | % | 37 | % | 36 | % |
a | Calculated using the average shares method for the period. |
b | Not Annualized. |
c | Annualized. |
See Notes to Financial Statements.
105 |
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Old Westbury Funds, Inc. | |
Municipal Bond Fund | |
Financial Highlights | |
For a Share Outstanding Throughout Each Period.
SIX MONTHS | ||||||||||||||||||||||||
ENDED | ||||||||||||||||||||||||
APRIL 30, 2013 | YEAR ENDED OCTOBER 31, | |||||||||||||||||||||||
(Unaudited) | 2012 | 2011 | 2010 | 2009 | 2008 | |||||||||||||||||||
Net asset value, beginning of period | $ | 12.33 | $ | 11.96 | $ | 12.19 | $ | 11.76 | $ | 10.82 | $ | 11.21 | ||||||||||||
Investment operations: | ||||||||||||||||||||||||
Net investment income | 0.09 | a | 0.19 | a | 0.21 | a | 0.37 | a | 0.37 | a | 0.37 | a | ||||||||||||
Net realized and unrealized gains/(losses) on investments | 0.01 | 0.40 | (0.16 | ) | 0.49 | 0.91 | (0.41 | ) | ||||||||||||||||
Total from investment operations | 0.10 | 0.59 | 0.05 | 0.86 | 1.28 | (0.04 | ) | |||||||||||||||||
Distributions: | ||||||||||||||||||||||||
Net investment income | (0.09 | ) | (0.19 | ) | (0.22 | ) | (0.43 | ) | (0.34 | ) | (0.35 | ) | ||||||||||||
Net realized gains | (0.12 | ) | (0.03 | ) | (0.06 | ) | — | — | — | |||||||||||||||
Total distributions | (0.21 | ) | (0.22 | ) | (0.28 | ) | (0.43 | ) | (0.34 | ) | (0.35 | ) | ||||||||||||
Net asset value, end of period | $ | 12.22 | $ | 12.33 | $ | 11.96 | $ | 12.19 | $ | 11.76 | $ | 10.82 | ||||||||||||
Total return | 0.8 | % b | 5.0 | % | 0.5 | % | 7.4 | % | 12.1 | % | (0.5 | )% | ||||||||||||
Annualized ratios/supplemental data: | ||||||||||||||||||||||||
Net assets at end of period (000’s) | $ | 1,214,170 | $ | 1,098,750 | $ | 936,056 | $ | 787,486 | $ | 527,042 | $ | 226,504 | ||||||||||||
Ratio of expenses to average net assets before expense waivers | 0.71 | % c | 0.73 | % | 0.73 | % | 0.76 | % | 0.79 | % | 0.81 | % | ||||||||||||
Ratio of expenses to average net assets after expense waivers | 0.61 | % c | 0.63 | % | 0.63 | % | 0.66 | % | 0.69 | % | 0.70 | % | ||||||||||||
Ratio of net investment income to average net assets | 1.44 | % c | 1.55 | % | 1.79 | % | 3.09 | % | 3.21 | % | 3.32 | % | ||||||||||||
Portfolio turnover rate | 20 | % b | 34 | % | 64 | % | 20 | % | 10 | % | 47 | % |
a | Calculated using the average shares method for the period. |
b | Not Annualized. |
c | Annualized. |
See Notes to Financial Statements.
106 |
|
Old Westbury Funds, Inc. | |
Notes To Financial Statements | |
April 30, 2013 (Unaudited) | |
1. | Organization: |
Old Westbury Funds, Inc. (the “Corporation”) was organized as a Maryland corporation on August 26, 1993 and commenced operations on October 22, 1993. The Corporation is an open-end management investment company registered under the Investment Company Act of 1940, as amended (the “1940 Act”). The Corporation’s Articles of Incorporation permit the Corporation’s Board of Directors (the “Board”) to create an unlimited number of series, each with one or more separate classes of shares. At April 30, 2013, the Corporation consisted of seven separate investment portfolios (each series individually referred to as a “Fund” and collectively as the “Funds”) shown below:
Fund Name | Investment Objective | |
Old Westbury Large Cap Core Fund (“Large Cap Core Fund”) | Long-term capital appreciation. | |
Old Westbury Large Cap Strategies Fund (“Large Cap Strategies Fund”) | Long-term capital appreciation. | |
Old Westbury Global Small & Mid Cap Fund (“Global Small & Mid Cap Fund”) | Long-term capital appreciation. | |
Old Westbury Global Opportunities Fund (“Global Opportunities Fund”) | Long-term capital appreciation. | |
Old Westbury Real Return Fund (“Real Return Fund”) | Real capital appreciation in inflationary environments. | |
Old Westbury Fixed Income Fund (“Fixed Income Fund”) | Total return (consisting of current income and capital appreciation). | |
Old Westbury Municipal Bond Fund (“Municipal Bond Fund”) | Total return (consisting of current income that is exempt from regular federal income tax and capital appreciation). |
The Corporation has authorized a total of 20 billion shares of common stock (par value $0.001 per share).
Under the Corporation’s organizational documents, its Officers and Directors are indemnified against certain liabilities arising out of the performance of their duties for the Corporation. In addition, in the normal course of business, the Corporation enters into contracts with vendors and others that provide for general indemnifications. The Corporation’s maximum exposure under these arrangements is unknown as this would involve future claims that may be made against the Corporation. However, based on experience, the Corporation expects the risk of loss to be remote.
2. | Basis for Consolidation for the Real Return Fund: |
The consolidated financial statements of the Real Return Fund include the financial results of its wholly-owned subsidiary (organized under the laws of the Cayman Islands), OWF Real Return Fund, Ltd. (the “Subsidiary”). All material intercompany accounts and transactions have been eliminated. The Subsidiary commenced operations on November 7, 2008. The Real Return Fund commenced reporting on a consolidated basis as of such commencement date in accordance with the accounting rules relating to reporting of a wholly-owned subsidiary. The Real Return Fund seeks to gain exposure to commodities, commodities-related instruments, derivatives and other investments by directly investing in those instruments or through investments in the Subsidiary. The Subsidiary has the same investment goal as the Real Return Fund. The Subsidiary pursues its investment goal by investing in commodities, commodities-related instruments, derivatives and other investments. The Subsidiary (unlike the Real Return Fund) may invest without limitation in these instruments. However, the Subsidiary is otherwise subject to the same fundamental, non-fundamental and certain other investment restrictions as the Real Return Fund. The portion of the Real Return Fund’s or Subsidiary’s assets exposed to any particular commodity, derivative or other investment will vary based on market conditions, but from time to time some exposure could be substantial. To the extent of the Real Return Fund’s investment through the Subsidiary, it will be subject to the risks associated with the commodities, derivatives and other instruments in which the Subsidiary invests. As of April 30, 2013, the Subsidiary represented $360,511,889 or 17.84% of the Real Return Fund’s net assets.
3. | Significant Accounting Policies: |
The following is a summary of the significant accounting policies followed by the Corporation in the preparation of its financial statements. The policies are in conformity with accounting principles generally accepted in the U.S. (“U.S. GAAP”). The preparation of financial statements in accordance with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities at the date of the financial statements and the reported amounts of income and expenses for the period. Actual results could differ from those estimates.
107 |
|
Old Westbury Funds, Inc. | |
Notes To Financial Statements - (Continued) | |
April 30, 2013 (Unaudited) | |
The Financial Accounting Standards Board (“FASB”) Accounting Standards Codification (“ASC”) is the exclusive reference of authoritative U.S. GAAP recognized by the FASB to be applied by nongovernmental entities. Rules and interpretive releases of the Securities and Exchange Commission (“SEC”) under authority of federal laws are also sources of authoritative GAAP for SEC registrants such as the Corporation.
A. Valuation of Investments. Securities listed on an exchange are valued, except as indicated below, at the last sale price reflected at the close of the regular trading session of the exchange on the business day as of which such value is being determined, and securities listed on NASDAQ are valued at the NASDAQ Official Closing Price (“NOCP”). If there has been no sale on such day, the security is valued at the mean of the closing bid and asked prices. If no bid or asked prices are quoted, or if events or circumstances that could materially affect the value of such Funds’ securities have occurred, then the security is valued at a fair value determined in accordance with procedures approved by the Board. Securities traded on more than one national securities exchange are valued at the last sale price on the exchange representing the principal market for such securities. Investments in open-end investment companies are valued at the most recently calculated net asset value (“NAV”).
Securities traded in the over-the-counter market are valued at the mean of the current bid and asked prices from such sources as the Board deems appropriate to reflect their fair value.
U.S. government obligations and other debt instruments having 60 days or less remaining until maturity at acquisition are valued at amortized cost when such value reflects fair value. Debt instruments having a greater remaining maturity will be valued on the basis of prices obtained from a pricing service approved as reliable by the Board. Pricing Service Vendors base their valuations on a number of factors, including, but not limited to, actual transaction data, benchmark yields, market bids, market offers, quotations from dealers, credit risk spreads, interest rate spreads, proprietary pricing models, cash flows, prepayment information, default rates, delinquency and loss assumptions, collateral characteristics, credit enhancements, specific deal information and other relationships observed in markets of comparable securities.
All other investment assets and liabilities, including derivatives, restricted and not readily marketable securities, are valued under procedures established by and under the general supervision and responsibility of the Board designed to reflect, in good faith, the fair value of such investments or other assets and liabilities. Fair value methods can include, but are not limited to, obtaining market quotations from secondary pricing services, broker-dealers, or widely used quotation systems. Real assets (i.e., assets not constituting securities or securities whose value is determined by underlying real assets), including collectibles such as coins, for which there is no readily available market quotation are valued on the basis of appraised value as determined by an independent appraiser selected by the Funds’ investment adviser, Bessemer Investment Management LLC (“BIM”)(“Adviser”). Appraisals are obtained on an ongoing, periodic basis in order to assure current valuations; appraisals generally are obtained not less frequently than quarterly and appraised values may be updated between appraisals on the basis of reported industry benchmarks. Derivative contracts and instruments are valued on the basis of industry-standard pricing information, including counterparty valuation quotations, industry inputs for market standard pricing models and generally available dealer quotations, subject to the review and confirmation by BIM where appropriate.
In the event of a change in the S&P 500 Index that is greater than predetermined levels approved by the Board, the Funds may use a pricing service authorized by the Board that has been designated to determine fair value. The Funds that invest in certain foreign securities that trade in non-U.S. markets may use a systematic fair valuation model provided by an independent third party vendor to value its non-U.S. investments. The Funds’ policy is intended to result in a calculation of a Fund’s NAV that fairly reflects security values as of the time of pricing. However, fair values determined pursuant to the Funds’ procedures may not accurately reflect the price that the Fund could obtain for a security if it were to dispose of that security as of the time of pricing. A Fund may fair value foreign securities if significant events that appear likely to affect the value of those securities occur between the time a foreign exchange closes and the time that a Fund prices its shares. Significant events may include: government actions; natural disasters; armed conflict; act of terrorism and similar situations; and significant market fluctuations. In addition, foreign securities held by a Fund may trade on weekends or other days when the Fund does not calculate NAV. As a result, the market value of these investments may change on days when shares of the Fund cannot be bought or sold. Such fair valuations are categorized as Level 2 in the fair value hierarchy. Foreign securities that are valued based on market quotations are categorized as Level 1 in the fair value hierarchy. The Large Cap Strategies Fund, Global Small & Mid Cap Fund and the Global Opportunities Fund utilized a systematic fair valuation model provided by an independent third-party vendor to fair value certain securities 9 days during the six months ended April 30, 2013. As a result on days when the index change exceeds predetermined levels, certain securities held by the Funds were transferred from Level 1 into Level 2. On any subsequent day when such index level is not exceeded, certain securities held by the Funds were transferred from Level 2 back into
108 |
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Old Westbury Funds, Inc. | |
Notes To Financial Statements - (Continued) | |
April 30, 2013 (Unaudited) | |
Level 1. As of April 30, 2013, foreign securities were not fair valued as the change in the S&P 500 Index did not exceed the Funds’ predetermined level. There were no other transfers between Level 1 and Level 2 during the six months ended April 30, 2013.
The fair value of investments is determined in accordance with the valuation procedures approved by the Board. The Funds’ Pricing Committee established by the Board (the “Pricing Committee”) reviews pricing methodologies for derivatives and all other types of investments on a quarterly basis. The Pricing Committee is charged with the responsibility to determine the fair value of certain investments for which market quotations are not readily available. These investments are either categorized as Level 2 or 3 depending on the observability of the inputs used. The Pricing Committee may consider one or more factors in determining an investment’s fair value. The factors to be taken into account, to the extent relevant, typically include, but are not limited to: fundamental analytical data, the nature and duration of any restrictions on disposition of the investments, an evaluation of the forces that influence the market in which the investments are purchased and sold, the type of investment, financial statements and company filings, lack of marketability, the cost and date of purchase, recommendation of the Adviser and any other relevant matters. When the fair valuation of investments use significant unobservable inputs, such investments will be categorized as Level 3 in the fair value hierarchy. These valuation methods may require subjective determinations about the value of an investment. While the Funds’ policy is intended to result in a calculation of the Funds’ NAV that fairly reflects investment values as of the time of pricing, the Funds cannot guarantee that values determined by the Pricing Committee would accurately reflect the price that the Funds could obtain for an investment if it were to dispose of that investment as of the time of pricing (for instance, in a forced or distressed sale). The prices used by the Funds may differ from the value that would be realized if the investments were sold.
The significant unobservable inputs used in fair value measurement of the Funds’ Level 3 investments may include, where applicable, (i) an estimation of a normalized earnings level or projected cash flows for the company; (ii) the discounts applied to the last available price of the investment or a selection of comparable investments due to the lack of marketability of the investment; (iii) values or bid offers by dealers or other third parties and (iv) the value associated with the latest round of financing. Significant changes in any of those inputs in isolation would result in a significantly lower or higher fair value measurement. Generally, a change in the assumptions used for the normalized earnings level will be accompanied by a directionally similar change in the discounts applied to the list of comparable investments.
The Funds’ Pricing Committee employs various methods for calibrating the valuation approach related to investments categorized within Level 3 in the fair value hierarchy. These methods may include regular due diligence of the Funds’ pricing vendors including back testing of trigger related fair value prices, a regular review of key inputs and assumptions, reviews of missing and stale prices and price variance analysis, including investigation of unusual or unexpected pricing changes and reviews of any market related activities. Additionally, the pricing of all fair value holdings is subsequently approved by the Funds’ Board.
B. Security Transactions and Related Investment Income. Security transactions are accounted for no later than the first net asset value calculation on the first business day following the trade date. However, for financial reporting purposes, portfolio securities transactions are reported on trade date. Realized gains and losses on security transactions are determined on the identified cost method. Dividend income and other distributions from portfolio securities are recorded on the ex-dividend date, except for certain dividends from foreign securities where the ex-dividend dates may have passed are recorded as soon as the Funds are informed of the dividends. Upon notification from issuers, some of the dividend income received from a real estate investment trust may be redesignated as a reduction of cost of the related investment and/or realized gain. Dividend income is recorded net of foreign taxes withheld where recovery of such taxes is not assured. Interest income is recognized on an accrual basis for each of the Funds and includes where applicable, the amortization of premiums and accretion of discounts.
C. Payment-In-Kind Securities. The Funds may invest in payment-in-kind securities (“PIKs”). PIKs give the issuer the option at each interest payment date of making interest payments in either cash or additional debt securities. Those additional debt securities usually have the same terms, including maturity dates and interest rates, and associated risks as the original bonds. The daily market quotations of the original bonds may include the accrued interest (referred to as a dirty price) and require a pro-rata adjustment from the unrealized appreciation or depreciation on investments to interest receivable on the Statement of Assets and Liabilities.
For the six months ended April 30, 2013, there were not any in-kind payments received by the Global Opportunities Fund with respect to PIK securities.
109 |
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Old Westbury Funds, Inc. | |
Notes To Financial Statements - (Continued) | |
April 30, 2013 (Unaudited) | |
D. Foreign Currency Transactions. The books and records of the Funds are maintained in U.S. dollars. Investments and other assets and liabilities of the Funds denominated in a foreign currency, if any, are translated into U.S. dollars at current exchange rates as of the date of the Statements of Assets and Liabilities. Purchases and sales of securities, income receipts and expense payments are translated into U.S. dollars at the exchange rate on the dates of the transactions.
The Funds do not isolate the portion of operations resulting from changes in foreign exchange rates on investments from fluctuations arising from changes in market prices of securities held. Such fluctuations are included with the net realized and unrealized gain/(loss) on investments, futures contracts, swap agreements, written options and foreign currency transactions in the Statements of Operations.
Foreign security and currency transactions may involve certain risks not typically associated with those of U.S. companies, including the level of governmental supervision and regulation of foreign securities markets and the possibility of political and economic instability.
E. Securities Sold Short. The Large Cap Strategies Fund, Global Small & Mid Cap Fund, Global Opportunities Fund and Real Return Fund may sell securities short. A short sale is a transaction in which a Fund sells securities it does not own, but has borrowed, in anticipation of a decline in the market price of the securities. A Fund is obligated to replace the borrowed securities at their market price at the time of settlement. A Fund’s obligation to replace the securities borrowed in connection with a short sale will be fully secured by collateral deposited with the broker. Short sales by a Fund involve certain risks and special considerations.
The Funds may not always be able to close out a short position on favorable terms. Short sales involve the risk that a Fund will incur a loss by subsequently buying a security at a higher price than the price at which it sold the security short. The amount of such loss is theoretically unlimited (since it is limited only by the increase in value of the security sold short by a Fund). In contrast, the risk of loss from a long position is limited to a Fund’s investment in the long position, since its value cannot fall below zero. Short selling is a form of leverage which may lead to higher volatility of a Fund’s NAV or greater losses for a Fund. To mitigate leverage risk, a Fund will always hold liquid assets (including its long positions) at least equal to its short position exposure, marked-to-market daily.
F. Collectibles. The Real Return Fund may invest in collectibles, which are rare objects collected by investors. They can include stamps, coins, books, oriental rugs, antiques, sports and other memorabilia, photographs, art and wine. Collectibles are generally expected to rise in value during inflationary periods when investors are trying to move to assets viewed as an inflation hedge. Generally, collectibles can be expected to drop in value during periods of low inflation. Collectible trading for profit is subject to certain risks and other considerations, including that collectibles: (i) have limited buying and selling markets; (ii) are often bought and sold at auction and subject to buyer and/or seller premiums; (iii) experience periods of high and low demand; (iv) must be insured, physically held and properly maintained; (v) may need to have their authenticity and provenance verified from time to time; and (vi) may not have representative market valuations available. The values of the collectible coins and sets of coins held by the Real Return Fund are appraised on a quarterly basis by an independent professional coin appraiser, who uses market auction data, among other factors, to determine each coin’s and set of coins’ current value. Between these quarterly appraisals, each coin and set of coins is valued weekly via information in the Coin Dealer Newsletter based on the price movement of a basket of like coins identified by BIM. The Real Return Fund does not currently intend to invest more than 5% of its total assets in collectibles. As of April 30, 2013, the Real Return Fund held $37,839,650, or 1.87% of net assets, in collectibles.
G. Commodities. The Real Return Fund and its Subsidiary may invest in commodities. In order to gain exposure to the commodities markets, the Real Return Fund, through its Subsidiary, may invest directly in physical commodities in addition to indirect investments in commodities-linked or related instruments. Commodities are assets that have tangible properties, such as oil, agriculture products and precious metals. The value of commodities may be affected by, among other things, changes in overall market movements, commodity index volatility, changes in interest rates, or factors affecting a particular industry or commodity, such as drought, floods, weather, livestock disease, embargoes, tariffs and international economic, political and regulatory developments. These factors may have a larger impact on commodity prices and commodity-linked instruments than on traditional securities. Certain commodities are also subject to limited pricing flexibility because of supply and demand factors. Others are subject to broad price fluctuations as a result of the volatility of the prices for certain raw materials and the instability of supplies of other materials. These additional variables may create additional risks which subject the Fund’s investments to greater volatility than investments in traditional securities.
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H. Inflation-Protected Securities. The Funds may invest in inflation-protected securities, which unlike traditional debt securities that make fixed or variable principal and interest payments, are structured to provide protection against the negative effects of inflation. The value of the debt securities’ principal is adjusted to track changes in an official inflation measure. For example, the U.S. Treasury currently uses the Consumer Price Index for Urban Consumers as a measure of inflation for Treasury Inflation-Protected Securities (“TIPS”). Other inflation-protected securities may not carry a similar guarantee by their issuer. A Fund may buy TIPS that are designed to provide an investment vehicle that is not vulnerable to inflation. The interest rate paid by TIPS is fixed. The principal value rises or falls semi-annually based on the changes in the published Consumer Price Index. If inflation occurs, the principal and interest payments on TIPS are adjusted to protect investors from inflationary loss. If deflation occurs, the principal and interest payments will be adjusted downward, although the principal will not fall below its face amount at maturity.
I. When-Issued and Delayed Delivery Securities. The Funds may purchase or sell securities that they are entitled to receive on a when-issued basis. The Funds may also purchase or sell securities on a delayed delivery basis. When-issued and delayed delivery securities involve risk that the security a Fund buys will lose value prior to its delivery. There is also a risk that the security will not be issued or that the other party to the transaction will not meet its obligation. If this occurs, a Fund loses both the investment opportunity for the assets it set aside to pay for the security and any gain in the security’s price.
J. Loan Participations and Assignments. The Global Opportunities Fund, Real Return Fund and Fixed Income Fund may invest in fixed or floating rate loans to U.S. companies, foreign entities, and U.S. subsidiaries of foreign entities made by one or more financial institutions. The rate of interest on a fixed-rate loan is generally a set amount. The rate of interest payable on floating rate loans is the sum of a base lending rate plus a specified spread. Base lending rates are generally the London InterBank Offered Rate, the Certificate of Deposit Rate of a designated U.S. bank, the prime rate of a designated U.S. bank, the Federal Funds rate, or another base lending rate used by commercial lenders. The applicable spread may be fixed at time of issuance or may adjust upward or downward to reflect changes in credit quality of the borrower. A Fund may invest in loans that are investment grade, below investment grade (“junk”), or not rated by any nationally recognized statistical ratings organization. Loans that are rated lower than investment grade typically entail default and other risks greater than those associated with higher-rated loans. Generally, the lower the rating category, the riskier the investment. Typically, a Fund’s investments in loans are expected to take the form of loan participations and assignments of portions of loans from third parties.
Currently, the Global Opportunities Fund intends to invest in loans that are below investment grade and, to a lesser extent, unrated loans. The Global Opportunities Fund’s investments in loans are expected in most instances to be in the form of assignments. Generally, when a Fund purchases an assignment of a loan from a lender, it will step into the position of the lender and acquire direct rights against the borrower on the loan. Because assignments are arranged through private negotiations between potential assignees and potential assignors, however, the rights and obligations acquired by a Fund as the purchaser of an assignment may differ from, and be more limited than, those held by the assigning lender. The assignability of certain obligations may be restricted by the governing documentation as to the nature of the assignee such that the only way in which a Fund may acquire an interest in a loan is by purchasing a participation of interest and not an assignment. A Fund may have difficulty disposing of assignments and participation interests given these limitations and other factors.
K. Credit Enhancements. Certain obligations held by the Funds have credit enhancement or liquidity features that may, under certain circumstances, provide for repayment of principal and interest on the obligation upon demand date, interest rate reset date or final maturity. These enhancements may include: letters of credit; liquidity guarantees; and third party insurance (i.e., AMBAC and FGIC). The value of the obligations may be affected by changes in credit worthiness of the entities that provide any supporting letters of credit or other credit enhancements. The value of the obligations also will be affected by the exhaustion, termination or expiration of any credit enhancement.
L. Restricted and Illiquid Securities. The Funds may purchase securities which are subject to legal or contractual delays, restrictions, and costs on resale. Because of time limitations, the Funds might not be able to dispose of these securities at reasonable prices or at times advantageous to the Funds. Each Fund intends to limit the purchase of securities which have not been determined by BIM to be liquid, together with other securities considered to be illiquid, including repurchase agreements providing for settlement in more than seven days after notice, to not more than 15% of its net assets.
M. Distributions to Shareholders. Distributions from net investment income, if any, generally are declared and paid quarterly for the Fixed Income Fund and Municipal Bond Fund and at least annually for the Large Cap Core Fund, Large Cap Strategies Fund, Global Small & Mid Cap Fund, Global Opportunities Fund and Real Return Fund. Distributable net realized capital gains, if any, are declared and distributed at least annually. The amount and timing of dividends and distributions are determined in accordance with federal income tax regulations, which may differ from U.S. GAAP.
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N. Expenses. Expenses that are directly related to one of the Funds are charged directly to that Fund on an accrual basis. Other operating expenses of the Corporation are prorated to each Fund on an accrual basis utilizing relative net assets or another reasonable basis.
4. | Market and Credit Risk: |
In the normal course of business, the Funds invest in securities and enter into transactions where risks exist due to fluctuations in the market (market risk) or failure of the issuer of a security to meet all its obligations (credit risk). The value of securities held by the Funds may decline in response to certain events, including those directly involving the issuers whose securities are owned by the Funds; conditions affecting the general economy; overall market changes; local, regional or global political, social or economic instability; and currency and interest rate and price fluctuations. Similar to credit risk, the Funds may be exposed to counterparty risk, or the risk that an entity with which the Funds have unsettled or open transactions may default. Financial assets, which potentially expose the Funds to credit and counterparty risks, consist principally of investments and cash due from counterparties. The extent of the Funds’ exposure to credit and counterparty risks with respect to these financial assets is generally represented by their value recorded in the Funds’ Statements of Assets and Liabilities.
5. | Fair Value Measurements: |
The inputs and valuation techniques used to measure fair value of the Funds’ investments are summarized into three levels as described in the hierarchy below:
· | Level 1 - quoted prices in active markets for identical securities. |
· | Level 2 - other significant observable inputs (including quoted prices for similar securities, interest rates, prepayment speeds, credit ratings, etc.). |
· | Level 3 - significant unobservable inputs (including the Funds’ own assumptions in determining the fair value of investments). |
The inputs or methodology used for valuing securities are not necessarily an indication of the risk associated with investing in those securities.
The summary of inputs used to value the Funds’ investments as of April 30, 2013 is as follows:
Level 1
Quoted Prices |
Level 2
Significant Observable Inputs |
Level 3
Significant Unobservable Inputs(d) |
Total | |||||||||||||
Investments in Securities Assets: | ||||||||||||||||
Large Cap Core Fund | ||||||||||||||||
Equity Securities | $ | 687,108,428 | (a) | $ | — | $ | — | $ | 687,108,428 | |||||||
Investment Company | 20,692,800 | — | — | 20,692,800 | ||||||||||||
U. S. Government Securities | — | 14,999,521 | — | 14,999,521 | ||||||||||||
Total | $ | 707,801,228 | $ | 14,999,521 | $ | — | $ | 722,800,749 | ||||||||
Large Cap Strategies Fund | ||||||||||||||||
Equity Securities:(b) | $ | 5,888,890,663 | (a) | $ | 16,072,368 | (e) | $ | 1,265,474 | (f) | $ | 5,906,228,505 | |||||
Exchange Traded Funds | 347,207,120 | — | — | 347,207,120 | ||||||||||||
U. S. Government Agencies | — | 119,996,442 | — | 119,996,442 | ||||||||||||
U. S. Government Securities | — | 23,999,977 | — | 23,999,977 | ||||||||||||
Cash Sweep | 135,495,400 | — | — | 135,495,400 |
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Level 1
Quoted Prices |
Level 2
Significant Observable Inputs |
Level 3
Significant Unobservable Inputs(d) |
Total | |||||||||||||
Other Financial Instruments - Assets* | ||||||||||||||||
Foreign currency exchange contracts | $ | — | $ | 352,973 | $ | — | $ | 352,973 | ||||||||
Other Financial Instruments - Liabilities* | ||||||||||||||||
Foreign currency exchange contracts | — | (6,535,796 | ) | — | (6,535,796 | ) | ||||||||||
Total | $ | 6,371,593,183 | $ | 153,885,964 | $ | 1,265,474 | $ | 6,526,744,621 | ||||||||
Global Small & Mid Cap Fund | ||||||||||||||||
Equity Securities:(b) | ||||||||||||||||
Argentina | $ | 1,144,080 | $ | — | $ | — | $ | 1,144,080 | ||||||||
Australia | 120,558,498 | 2,935 | 98,898 | 120,660,331 | ||||||||||||
Austria | 12,455,313 | — | — | 12,455,313 | ||||||||||||
Bahamas | 63,682 | — | — | 63,682 | ||||||||||||
Belgium | 13,449,554 | — | — | 13,449,554 | ||||||||||||
Bermuda | 41,852,318 | — | — | 41,852,318 | ||||||||||||
Brazil | 54,415,044 | — | — | 54,415,044 | ||||||||||||
Canada | 115,089,741 | — | 1,873 | 115,091,614 | ||||||||||||
Cayman Islands | 63,997 | — | — | 63,997 | ||||||||||||
Chile | 7,247,576 | — | — | 7,247,576 | ||||||||||||
China | 56,518,367 | 41,089 | 254,436 | 56,813,892 | ||||||||||||
Columbia | 37,295 | — | — | 37,295 | ||||||||||||
Cyprus | 790,104 | — | — | 790,104 | ||||||||||||
Denmark | 27,488,658 | — | — | 27,488,658 | ||||||||||||
Finland | 28,325,794 | — | — | 28,325,794 | ||||||||||||
France | 119,871,690 | — | 62,773 | 119,934,463 | ||||||||||||
Gabon | 33,680 | — | — | 33,680 | ||||||||||||
Germany | 139,351,945 | — | — | 139,351,945 | ||||||||||||
Gibraltar | 428,687 | — | — | 428,687 | ||||||||||||
Greece | 2,468,061 | — | 5 | 2,468,066 | ||||||||||||
Guernsey | 3,370,255 | — | — | 3,370,255 | ||||||||||||
Hong Kong | 85,143,014 | 13,828 | 1,416,209 | 86,573,051 | ||||||||||||
Hungary | 1,235,425 | 45 | — | 1,235,470 | ||||||||||||
India | 66,208,425 | — | 176,640 | 66,385,065 | ||||||||||||
Indonesia | 29,286,848 | — | 82,646 | 29,369,494 | ||||||||||||
Ireland | 118,367,996 | 625,639 | — | 118,993,635 | ||||||||||||
Isle of Man | 47,943 | — | — | 47,943 | ||||||||||||
Israel | 91,540,259 | — | — | 91,540,259 | ||||||||||||
Italy | 26,366,504 | — | 277 | 26,366,781 | ||||||||||||
Japan | 287,437,720 | — | — | 287,437,720 | ||||||||||||
Jersey Channel Islands | 560,507 | — | — | 560,507 | ||||||||||||
Liechtenstein | 312,147 | — | — | 312,147 | ||||||||||||
Luxembourg | 13,027,491 | — | — | 13,027,491 | ||||||||||||
Malaysia | 41,368,540 | — | 699,145 | 42,067,685 | ||||||||||||
Malta | 324,985 | — | — | 324,985 | ||||||||||||
Mauritius | 313,251 | — | — | 313,251 | ||||||||||||
Mexico | 30,925,848 | — | — | 30,925,848 | ||||||||||||
Monaco | 20,892 | — | — | 20,892 | ||||||||||||
Mongolia | 112,330 | — | — | 112,330 | ||||||||||||
Netherlands | 50,917,349 | 2,080,582 | — | 52,997,931 | ||||||||||||
New Zealand | 21,081,718 | — | — | 21,081,718 | ||||||||||||
Norway | 11,157,591 | — | — | 11,157,591 | ||||||||||||
Papua New Guinea | 13,477 | — | — | 13,477 |
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Level 1
Quoted Prices |
Level 2
Significant Observable Inputs |
Level 3
Significant Unobservable Inputs(d) |
Total | |||||||||||||
Peru | $ | 7,169,514 | $ | — | $ | — | $ | 7,169,514 | ||||||||
Philippines | 16,268,750 | — | — | 16,268,750 | ||||||||||||
Poland | 6,125,071 | — | — | 6,125,071 | ||||||||||||
Portugal | 3,639,350 | — | — | 3,639,350 | ||||||||||||
Russia | 194,241 | — | — | 194,241 | ||||||||||||
Singapore | 104,643,957 | — | — | 104,643,957 | ||||||||||||
South Africa | 38,188,651 | — | — | 38,188,651 | ||||||||||||
South Korea | 74,593,260 | — | 72,388 | 74,665,648 | ||||||||||||
Spain | 24,996,460 | 219,776 | — | 25,216,236 | ||||||||||||
Sweden | 45,562,645 | — | 1,620 | 45,564,265 | ||||||||||||
Switzerland | 82,314,166 | — | — | 82,314,166 | ||||||||||||
Taiwan | 68,805,269 | — | — | 68,805,269 | ||||||||||||
Thailand | 26,272,315 | 1,162,213 | — | 27,434,528 | ||||||||||||
Turkey | 10,425,407 | — | — | 10,425,407 | ||||||||||||
Ukraine | 45,171 | — | — | 45,171 | ||||||||||||
United Arab Emirates | 1,058,003 | — | — | 1,058,003 | ||||||||||||
United Kingdom | 501,693,102 | — | 300,270 | 501,993,372 | ||||||||||||
United States | 2,444,600,692 | — | — | 2,444,600,692 | ||||||||||||
Total Equities | $ | 5,077,390,623 | $ | 4,146,107 | $ | 3,167,180 | $ | 5,084,703,910 | ||||||||
Exchange Traded Funds | 432,372,777 | — | — | 432,372,777 | ||||||||||||
Investment Company | 29,018,700 | — | — | 29,018,700 | ||||||||||||
Rights/Warrants | — | — | — | — | ||||||||||||
China | — | — | 789 | 789 | ||||||||||||
Hong Kong | 32,767 | — | — | 32,767 | ||||||||||||
Israel | — | 2,640 | — | 2,640 | ||||||||||||
Italy | — | 105 | — | 105 | ||||||||||||
Malaysia | 123,610 | — | — | 123,610 | ||||||||||||
Norway | — | 753 | — | 753 | ||||||||||||
South Korea | — | 5,445 | — | 5,445 | ||||||||||||
Spain | 4,790 | — | — | 4,790 | ||||||||||||
Switzerland | 19,364 | — | — | 19,364 | ||||||||||||
Thailand | — | 20,596 | — | 20,596 | ||||||||||||
Total Rights/Warrants | $ | 180,531 | $ | 29,539 | $ | 789 | $ | 210,859 | ||||||||
U. S. Government Agencies | — | 33,999,622 | — | 33,999,622 | ||||||||||||
U. S. Government Securities | — | 17,999,847 | — | 17,999,847 | ||||||||||||
Cash Sweep | 58,305,154 | — | — | 58,305,154 | ||||||||||||
Other financial instruments - Assets*: | ||||||||||||||||
Foreign currency exchange contracts | — | — | — | — | ||||||||||||
Other financial instruments - Liabilities*: | ||||||||||||||||
Foreign currency exchange contracts | — | (267,021 | ) | — | (267,021 | ) | ||||||||||
Total | $ | 5,597,267,785 | $ | 55,908,094 | $ | 3,167,969 | $ | 5,656,343,848 | ||||||||
Global Opportunities Fund | ||||||||||||||||
Equity Securities:(b) | ||||||||||||||||
Australia | $ | 36,337,493 | $ | — | $ | — | $ | 36,337,493 | ||||||||
Belgium | 5,106,051 | — | — | 5,106,051 | ||||||||||||
Bermuda | 17,090,334 | — | — | 17,090,334 | ||||||||||||
Brazil | 3,698,467 | — | — | 3,698,467 | ||||||||||||
Canada | 53,283,998 | — | — | 53,283,998 | ||||||||||||
Chile | 7,332,271 | — | — | 7,332,271 |
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Level 1
Quoted Prices |
Level 2
Significant Observable Inputs |
Level 3
Significant Unobservable Inputs(d) |
Total | |||||||||||||
China | $ | 13,803,335 | $ | — | $ | 799,959 | $ | 14,603,294 | ||||||||
Finland | 9,578,550 | — | — | 9,578,550 | ||||||||||||
France | 34,584,078 | — | — | 34,584,078 | ||||||||||||
Germany | 8,692,619 | — | — | 8,692,619 | ||||||||||||
Hong Kong | 21,365,175 | — | — | 21,365,175 | ||||||||||||
India | 2,468,822 | — | — | 2,468,822 | ||||||||||||
Indonesia | 877,447 | — | — | 877,447 | ||||||||||||
Ireland | 51,395,978 | — | — | 51,395,978 | ||||||||||||
Israel | 8,994,541 | — | — | 8,994,541 | ||||||||||||
Italy | 21,899,391 | — | — | 21,899,391 | ||||||||||||
Japan | 127,132,366 | — | — | 127,132,366 | ||||||||||||
Jersey Channel Islands | 2,421,902 | — | — | 2,421,902 | ||||||||||||
Luxembourg | 1,600,880 | — | — | 1,600,880 | ||||||||||||
Malaysia | 28,073,482 | — | — | 28,073,482 | ||||||||||||
Mexico | 1,021,164 | — | — | 1,021,164 | ||||||||||||
Netherlands | 7,475,211 | — | — | 7,475,211 | ||||||||||||
New Zealand | 513,525 | — | — | 513,525 | ||||||||||||
Norway | 14,623,294 | — | — | 14,623,294 | ||||||||||||
Pakistan | 2,098,492 | — | — | 2,098,492 | ||||||||||||
Poland | 3,209,061 | — | — | 3,209,061 | ||||||||||||
Portugal | 10,026,133 | — | — | 10,026,133 | ||||||||||||
Puerto Rico | 3,170,329 | — | — | 3,170,329 | ||||||||||||
Singapore | 46,944,085 | — | — | 46,944,085 | ||||||||||||
South Africa | 21,072,032 | — | — | 21,072,032 | ||||||||||||
South Korea | 6,073,155 | — | — | 6,073,155 | ||||||||||||
Spain | 7,394,664 | — | — | 7,394,664 | ||||||||||||
Sweden | 10,667,249 | — | — | 10,667,249 | ||||||||||||
Switzerland | 22,457,831 | — | — | 22,457,831 | ||||||||||||
Taiwan | 30,815,780 | — | — | 30,815,780 | ||||||||||||
Thailand | 1,895,112 | 3,756,082 | — | 5,651,194 | ||||||||||||
Turkey | 2,119,238 | — | — | 2,119,238 | ||||||||||||
United Kingdom | 51,852,330 | — | — | 51,852,330 | ||||||||||||
United States | 861,191,791 | — | 258,750 | 861,450,541 | ||||||||||||
Total Equities | $ | 1,560,357,656 | $ | 3,756,082 | $ | 1,058,709 | $ | 1,565,172,447 | ||||||||
Exchange Traded Funds | 73,900,013 | — | — | 73,900,013 | ||||||||||||
Preferred Stock | 1,293,563 | (a) | — | — | 1,293,563 | |||||||||||
Bank Loans | — | 50,348,361 | (a) | — | 50,348,361 | |||||||||||
Corporate Bonds | — | 1,420,987,926 | (a) | 24,146,169 | (c) | 1,445,134,095 | ||||||||||
Government Bonds | — | 863,284,095 | (a) | — | 863,284,095 | |||||||||||
Asset-Backed Securities | — | 229,045,425 | (a) | — | 229,045,425 | |||||||||||
Non-Agency Mortgage-Backed Securities | — | 989,863,187 | (a) | — | 989,863,187 | |||||||||||
U. S. Government Agencies | — | 362,641,682 | — | 362,641,682 | ||||||||||||
U. S. Government Securities | — | 1,221,982,792 | — | 1,221,982,792 | ||||||||||||
Cash Sweep | 149,565,447 | — | — | 149,565,447 | ||||||||||||
Security Sold Short | — | (5,229,688 | ) | — | (5,229,688 | ) | ||||||||||
Other financial instruments - Assets*: | ||||||||||||||||
Commodity contracts | 72,726 | — | — | 72,726 | ||||||||||||
Equity contracts | — | 136,984,657 | — | 136,984,657 | ||||||||||||
Foreign exchange currency contracts | — | 39,797,754 | — | 39,797,754 |
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April 30, 2013 (Unaudited) | |
Level 1
Quoted Prices |
Level 2
Significant Observable Inputs |
Level 3
Significant Unobservable Inputs(d) |
Total | |||||||||||||
Other financial instruments - Liabilities*: | ||||||||||||||||
Commodity contracts | $ | (1,059,950 | ) | $ | — | $ | — | $ | (1,059,950 | ) | ||||||
Equity contracts | (144,285,972 | ) | (27,912,181 | ) | — | (172,198,153 | ) | |||||||||
Foreign exchange currency contracts | — | (29,965,580 | ) | — | (29,965,580 | ) | ||||||||||
Total | $ | 1,639,843,483 | $ | 5,255,584,512 | $ | 25,204,878 | $ | 6,920,632,873 | ||||||||
Real Return Fund | ||||||||||||||||
Equity Securities | $ | 353,464,186 | (a) | $ | — | $ | — | $ | 353,464,186 | |||||||
Exchange Traded Funds | — | — | — | — | ||||||||||||
Collectible Coins | — | 37,839,650 | — | 37,839,650 | ||||||||||||
Commodities | 88,862,742 | — | — | 88,862,742 | ||||||||||||
Asset-Backed Securities | — | 123,920,000 | (a) | — | 123,920,000 | |||||||||||
Government Bonds | — | 273,482,604 | (a) | — | 273,482,604 | |||||||||||
U. S. Government Agencies | — | 245,643,816 | — | 245,643,816 | ||||||||||||
U. S. Government Securities | — | 856,988,627 | — | 856,988,627 | ||||||||||||
Cash Sweep | 8,513,944 | — | — | 8,513,944 | ||||||||||||
Other financial instruments - Assets*: | ||||||||||||||||
Commodity contracts | 50,033,404 | 36,724,736 | — | 86,758,140 | ||||||||||||
Other financial instruments - Liabilities*: | ||||||||||||||||
Commodity contracts | (69,181,921 | ) | (43,376,026 | ) | — | (112,557,947 | ) | |||||||||
Total | $ | 431,692,355 | $ | 1,531,223,407 | $ | — | $ | 1,962,915,762 | ||||||||
Fixed Income Fund | ||||||||||||||||
Corporate Bonds | $ | — | $ | 285,717,958 | (a) | $ | — | $ | 285,717,958 | |||||||
Asset-Backed Securities | — | 11,020,500 | (a) | — | 11,020,500 | |||||||||||
Municipal Bonds | — | 36,703,500 | (a) | — | 36,703,500 | |||||||||||
Collateralized Mortgage Obligations | — | 5,521,561 | (a) | — | 5,521,561 | |||||||||||
U. S. Government Agencies | — | 34,877,545 | — | 34,877,545 | ||||||||||||
U. S. Government Securities | — | 111,592,931 | — | 111,592,931 | ||||||||||||
Government Bonds | — | 12,944,484 | (a) | — | 12,944,484 | |||||||||||
Investment Company | 18,710,000 | — | — | 18,710,000 | ||||||||||||
Total | $ | 18,710,000 | $ | 498,378,479 | $ | — | $ | 517,088,479 | ||||||||
Municipal Bond Fund | ||||||||||||||||
Municipal Bonds | $ | — | $ | 1,197,236,133 | (a) | $ | — | $ | 1,197,236,133 | |||||||
Investment Company | 16,800,300 | — | — | 16,800,300 | ||||||||||||
Total | $ | 16,800,300 | $ | 1,197,236,133 | $ | — | $ | 1,214,036,433 |
(a) | The breakdown of the Fund’s investments into major categories or countries is disclosed in the respective Fund’s Portfolio of Investments and in footnote 6 for derivatives. |
(b) | In the Large Cap Strategies Fund, Global Small & Mid Cap Fund and Global Opportunities Fund, certain foreign securities were not fair valued at April 30, 2013 as the change in the S&P 500 Index did not exceed the Funds’ predetermined level (see footnote 3. A). See footnote 3. A. regarding transfers between Levels 1 and 2. The Funds have no transfers between Level 1 and Level 2 investments during the reporting period due to exceeding the predetermined level. Certain investments for the Global Small & Mid Cap Fund were transferred into Level 2 in the amount of $2,975,048 and out of Level 2 in the amount of $546,291. |
(c) | Represents securities as disclosed in the Bermuda, Hong Kong and the United States sections of the Fund’s Portfolio of Investments. |
(d) | The Large Cap Strategies Fund, Global Small & Mid Cap Fund and Global Opportunities Fund held certain investments categorized as Level 3 that had a combined fair value as well as a change in NAV less than 1% of NAV for the respective Fund for the period ended April 30, 2013. There were transfers into Level 3 of $0, $1,611,812 and $0 and out of Level 3 in the amount of $0, $580,360 and $0 for the Large Cap Strategies Fund, Global Small & Mid Cap Fund and the Global Opportunities Fund respectively. In addition, there were no significant purchases and sales during the period. As of April 30, 2013, the percentage of NAV was 0.02%, 0.06% and |
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Notes To Financial Statements - (Continued) | |
April 30, 2013 (Unaudited) | |
0.36% for the Large Cap Strategies Fund, Global Small & Mid Cap Fund and Global Opportunities Fund, respectively.
(e) | Represents a security as disclosed in the Thailand section of the Fund’s Portfolio of Investments. |
(f) | Represents a security as disclosed in the United Kingdom section of the Fund’s Portfolio of Investments. |
* Other financial instruments are exchange traded options and futures (Level 1), over-the-counter options (Level 2), forwards (Level 2) and swaps (Level 2). Futures, forwards and swaps are valued at the unrealized appreciation/(depreciation) on the instrument and options are shown at market value.
The Funds’ policy is to recognize transfers in and transfers out as of the beginning of the period of the event.
In December 2011, FASB issued Accounting Standards Update No. 2011-11 “Disclosures about Offsetting Assets and Liabilities” (“ASU 2011-11”). These disclosure requirements are intended to help investors and other financial statement users to better assess the effect or potential effect of offsetting arrangements on a company’s financial position. They also improve transparency in the reporting of how companies mitigate credit risk, including disclosure of related collateral pledged or received. In addition, ASU 2011-11 facilitates comparison between those entities that prepare their financial statements on the basis of US GAAP and those entities that prepare their financial statements on the basis of International Financial Reporting Standards (“IFRS”). ASU 2011-11 requires entities to: disclose both gross and net information about both instruments and transactions eligible for offset in the financial statements; and disclose instruments and transactions subject to an agreement similar to a master netting agreement. ASU 2011-11 is effective for fiscal years beginning on or after January 1, 2013, and interim periods within those annual periods. At this time, management is evaluating the implications of ASU 2011-11 and its impact on the Funds’ financial statement disclosures
6. | Derivative Instruments: |
The Funds engage in various portfolio investment strategies utilizing derivatives both to increase the return of the Funds and/or to economically hedge, or protect, their exposure to, for example, interest rate movements, movements in the securities or commodities markets and currency value fluctuations. Derivatives are subject to a number of risks, including changes in the market price of the underlying securities, credit risk with respect to the counterparty to the derivative instruments and the risk of loss due to changes in interest rates. The use of certain derivatives may also have a leveraging effect, which may increase the Fund’s sensitivity to adverse market movements and may exaggerate a loss. Losses may arise if the value of the contract decreases due to, among other potentially adverse events, an unfavorable change in the price of the underlying security or commodity or if the counterparty does not perform under the contract. The use of derivatives can lead to losses because of relatively small adverse movements in the price or value of the underlying security, asset, index or reference rate, which may be magnified by or potentially unlimited as a result of certain features of the derivatives.
The primary difference in risks associated with over-the-counter contracts and exchange-traded contracts is credit and liquidity risks. Over-the-counter contracts, as bilateral arrangements, contain credit risk from various counterparties for any unrealized gains for the duration of the contract. The credit risk related to exchange-traded contracts is minimal because the exchanges ensure that their contracts are always honored. The Funds may mitigate counterparty risk on derivatives through master netting agreements included within an International Swaps and Derivatives Association, Inc. (“ISDA”) Master Agreement between a Fund and each of its counterparties. The ISDA Master Agreement allows each Fund to offset with its counterparty certain derivative financial instruments’ payables and/or receivables with collateral held with each counterparty. The amount of collateral moved to/from applicable counterparties is based upon minimum transfer amounts of up to $1,000,000. To the extent amounts due to the Funds from their counterparties are not fully collateralized contractually or otherwise, the Funds bear the risk of loss from counterparty non-performance.
The Funds’ maximum risk of loss from counterparty credit risk on over-the-counter derivatives is generally the aggregate net unrealized gain in excess of any collateral pledged by the counterparty to the Funds. For over-the-counter purchased options, the Funds bear the risk of loss in the amount of the premiums paid and positive change in market value of the options should the counterparty not perform under the contracts. Written options by the Funds do not give rise to counterparty credit risk, as written options obligate the Funds to perform and not the counterparty. Certain ISDA Master Agreements allow counterparties to over-the-counter derivatives to terminate or require full collateralization of derivative contracts prior to maturity in the event a Fund’s net assets decline by a stated percentage or a Fund fails to meet the terms of its ISDA Master Agreements, which would cause the Funds to post additional collateral or accelerate payment of any net liability owed to the counterparty. As of April 30, 2013, all derivatives in a net liability position are fully collateralized.
When counterparties post cash collateral with respect to various derivative transactions, a Fund invests the collateral and
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Notes To Financial Statements - (Continued) | |
April 30, 2013 (Unaudited) | |
receives interest income on the investment and pays interest expense on the collateral to the counterparty. The interest income is included in investment income on the Statements of Operations, and the interest expense is included in a Fund’s overall expenses and expense ratio in the Financial Highlights.
The Funds are subject to, among other risks, interest rate risk, equity price risk, commodity risk and foreign currency exchange risk in the normal course of pursuing their investment objectives by investing in various derivative financial instruments, as described below.
For open derivative instruments, please see the respective Fund’s Portfolio of Investments or details below:
Fair Values of Derivative Instruments as of April 30, 2013 | |||||||||||
Derivative Assets | Derivative Liabilities | ||||||||||
Statements of Assets | Statements of Assets | ||||||||||
and Liabilities | and Liabilities | ||||||||||
Large Cap Strategies Fund | Location | Value | Location | Value | |||||||
Foreign currency exchange contracts | Unrealized appreciation on forward foreign currency exchange contracts | $ | 352,973 | Unrealized depreciation on forward foreign currency exchange contracts | $ | 6,535,796 | |||||
Total | $ | 352,973 | $ | 6,535,796 | |||||||
Statements of Assets | Statements of Assets | ||||||||||
and Liabilities | and Liabilities | ||||||||||
Global Small & Mid Cap Fund | Location | Value | Location | Value | |||||||
Foreign currency exchange contracts | Unrealized appreciation on forward foreign currency exchange contracts | $ | — | Unrealized depreciation on forward foreign currency exchange contracts | $ | 267,021 | |||||
Total | $ | — | $ | 267,021 | |||||||
Statements of Assets | Statements of Assets | ||||||||||
and Liabilities | and Liabilities | ||||||||||
Global Opportunities Fund | Location | Value | Location | Value | |||||||
Equity contracts | Unrealized appreciation on swap contracts | $ | 13,501,540 | Unrealized depreciation on swap contracts | $ | 9,990,764 | |||||
Structured option contracts, at value | 123,483,117 | Written option contracts, at value | 144,285,972 | ||||||||
Structured option contracts, at value | 17,921,417 | ||||||||||
Variation Margin | 75,000 | ||||||||||
Foreign currency exchange contracts | Unrealized appreciation on forward foreign currency exchange contracts | 39,797,754 | Unrealized depreciation on forward foreign currency exchange contracts | 29,965,580 | |||||||
Total | $ | 176,782,411 | $ | 202,238,733 | |||||||
Statements of Assets | Statements of Assets | ||||||||||
and Liabilities | and Liabilities | ||||||||||
Real Return Fund | Location | Value | Location | Value | |||||||
Commodity contracts | Unrealized appreciation on swap contracts | $ | 36,724,736 | Unrealized depreciation on swap contracts | $ | 43,376,026 | |||||
Variation Margin | 1,154,691 | ||||||||||
Investments, at value (purchased options) | 624,825 | Written option contracts, at value | 12,285,188 | ||||||||
Total | $ | 37,349,561 | $ | 56,815,905 |
The Effect of Derivative Instruments on the Statements of Operations | ||||||||||||||||
Six Months Ended April 30, 2013 | ||||||||||||||||
Net Realized Gain (Loss) from Derivatives Recognized in Income | ||||||||||||||||
Foreign Currency | ||||||||||||||||
Large Cap Strategies Fund | Options | Futures Contracts | Swaps | Exchange Contracts | Total | |||||||||||
Foreign Currency Exchange Contracts | $ | — | $ | — | $ | — | $ | 1,465,996 | $ | 1,465,996 | ||||||
Equity Contracts | — | — | — | — | — | |||||||||||
Total | $ | — | $ | — | $ | — | $ | 1,465,996 | $ | 1,465,996 | ||||||
Foreign Currency | ||||||||||||||||
Global Small & Mid Cap Fund | Options | Futures Contracts | Swaps | Exchange Contracts | Total | |||||||||||
Foreign Currency Exchange Contracts | $ | — | $ | — | $ | — | $ | (83,431 | ) | $ | (83,431 | ) | ||||
Total | $ | — | $ | — | $ | — | $ | (83,431 | ) | $ | (83,431 | ) | ||||
Foreign Currency | ||||||||||||||||
Global Opportunities Fund | Options | Futures Contracts | Swaps | Exchange Contracts | Total | |||||||||||
Commodity Contracts | $ | — | $ | (1,098,596 | ) | $ | — | $ | — | $ | (1,098,596 | ) |
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April 30, 2013 (Unaudited) | |
The Effect of Derivative Instruments on the Statements of Operations | ||||||||||||||||||||
Six Months Ended April 30, 2013 | ||||||||||||||||||||
Net Realized Gain (Loss) from Derivatives Recognized in Income | ||||||||||||||||||||
Interest Rate Contracts | $ | — | $ | — | $ | — | $ | — | $ | — | ||||||||||
Equity Contracts | 105,297,865 | (3,350,824 | ) | 16,094,719 | — | 118,041,760 | ||||||||||||||
Foreign Currency Exchange Contracts | — | — | — | 37,165,661 | 37,165,661 | |||||||||||||||
Total | $ | 105,297,865 | $ | (4,449,420 | ) | $ | 16,094,719 | $ | 37,165,661 | $ | 154,108,825 | |||||||||
Foreign Currency | ||||||||||||||||||||
Real Return Fund | Options | Futures Contracts | Swaps | Exchange Contracts | Total | |||||||||||||||
Commodity Contracts | $ | (50,912,422 | ) | $ | (73,406,524 | ) | $ | (21,032,197 | ) | $ | — | $ | (145,351,143 | ) | ||||||
Foreign Currency Exchange Contracts | — | — | — | (5,924,099 | ) | (5,924,099 | ) | |||||||||||||
Total | $ | (50,912,422 | ) | $ | (73,406,524 | ) | $ | (21,032,197 | ) | $ | (5,924,099 | ) | $ | (151,275,242 | ) | |||||
Net Change in Unrealized Appreciation/Depreciation | ||||||||||||||||
on Derivatives Recognized in Income | ||||||||||||||||
Foreign Currency | ||||||||||||||||
Large Cap Strategies Fund | Options | Futures Contracts | Swaps | Exchange Contracts | Total | |||||||||||
Foreign Currency Exchange Contracts | $ | — | $ | — | $ | — | $ | (2,322,381 | ) | $ | (2,322,381 | ) | ||||
Total | $ | — | $ | — | $ | — | $ | (2,322,381 | ) | $ | (2,322,381 | ) | ||||
Foreign Currency | ||||||||||||||||
Global Small & Mid Cap Fund | Options | Futures Contracts | Swaps | Exchange Contracts | Total | |||||||||||
Foreign Currency Exchange Contracts | $ | — | $ | — | $ | — | $ | (394,064 | ) | $ | (394,064 | ) | ||||
Total | $ | — | $ | — | $ | — | $ | (394,064 | ) | $ | (394,064 | ) | ||||
Foreign Currency | ||||||||||||||||
Global Opportunities Fund | Options | Futures Contracts | Swaps | Exchange Contracts | Total | |||||||||||
Commodity Contracts | $ | — | $ | 873,126 | $ | — | $ | — | $ | 873,126 | ||||||
Equity Contracts | 104,769,823 | 1,332,017 | (9,011,421 | ) | — | 97,090,419 | ||||||||||
Foreign Currency Exchange Contracts | — | — | 715,340 | 20,998,937 | 21,714,277 | |||||||||||
Total | $ | 104,769,823 | $ | 2,205,143 | $ | (8,296,081 | ) | $20,998,937 | $ | 119,677,822 | ||||||
Foreign Currency | ||||||||||||||||
Real Return Fund | Options | Futures Contracts | Swaps | Exchange Contracts | Total | |||||||||||
Commodity Contracts | $ | 25,740,465 | $ | (15,235,616 | ) | $ | (4,176,787 | ) | $ | — | $ | 6,328,062 | ||||
Total | $ | 25,740,465 | $ | (15,235,616 | ) | $ | (4,176,787 | ) | $ | — | $ | 6,328,062 | ||||
For the six months ended April 30, 2013, the quarterly average volume of derivative activities were as follows:
Large Cap Strategies Fund | Global Small & Mid Cap Fund | Global Opportunities Fund | Real Return Fund | |||||||||||||
Structured Options (Number of Units) | — | — | 20,686,097 | — | ||||||||||||
Structured Options (Notional Amounts) | $ | — | $ | — | $ | 2,503,983,549 | $ | — | ||||||||
Purchased Options (Cost $) | — | — | — | 27,489,481 | ||||||||||||
Written Options (Premium Received $) | — | — | 116,515,106 | 16,319,138 | ||||||||||||
Futures Long Position (Notional Amounts) | — | — | 1,257,900 | 1,190,726,724 | ||||||||||||
Futures Short Position (Notional Amounts) | — | — | 177,500 | 514,126,310 | ||||||||||||
Forward Currency Contracts Purchased (U. S. Dollar Amounts) | — | — | 1,442,904,457 | — | ||||||||||||
Forward Currency Contracts Sold (U. S. Dollar Amounts) | 368,536,343 | 34,516,862 | 1,420,308,742 | — | ||||||||||||
Equity Swaps (Notional Amount in U. S. Dollars) | — | — | 2,532,747 | — | ||||||||||||
Index Swaps as buyer (Notional Amount in U. S. Dollars) | — | — | — | 563,808,459 | ||||||||||||
Index Swaps as writer (Notional Amount in U. S. Dollars) | — | — | — | 394,238,600 |
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A. Futures Contracts. The Funds purchased or sold futures contracts and options on futures contracts to gain exposure to, or hedge against, changes in the value of equity securities (equity risk), interest rates (interest rate risk) or commodity risk.
Futures contracts are agreements pursuant to which two parties agree to take or make delivery of an amount of cash equal to the difference between the value of the contract at the close of the last trading day and the price at which the contract was originally written. Upon entering into a futures contract, the Funds are required to pledge to the broker an amount of cash, U.S. government securities, or other assets, equal to a certain percentage of the contract amount. This is known as the initial margin deposit. Subsequent payments, known as variation margin, are made or received by the Funds each day, depending on the daily fluctuations in fair value of the underlying instrument. The Funds recognize an unrealized gain or loss equal to the variation margin. These futures contracts permit the Funds to meet their objectives at a lower cost than investing directly in the underlying instruments or commodities, while permitting the equivalent of an investment in a portfolio of the underlying instruments or commodities. A potential risk to the Funds is that the change in value of the underlying securities or commodities may not correlate to the change in value of the contracts. Listed futures contracts involve minimal counterparty risk since futures contracts are guaranteed against default by the exchange on which they trade.
B. Forward Foreign Currency Exchange Contracts. The Funds (except Municipal Bond Fund) entered into forward foreign currency contracts ( “Forward” ) to hedge their exposure to changes in foreign currency exchange rates on foreign portfolio holdings (foreign currency exchange risk). In addition, certain Funds may use a Forward to provide exposure to the foreign currency market. A Forward is an agreement between two parties to purchase or sell a foreign currency at a future date at a negotiated forward rate. A Forward is marked-to-market daily and the change in market value is recorded by the Funds as unrealized appreciation or depreciation until the contract settlement date. The market value of the Forward is determined using the forward rate for the remainder of the outstanding period of the contract, through the delivery date. When a Forward is closed or settled, the Funds record a realized gain or loss equal to the fluctuation in rates during the period a Forward was open. Risks may arise upon entering into these contracts from, for example, the potential inability of the counterparties to meet the terms of their contracts, or if the foreign currency rates change unfavorably.
In the event of default by the counterparty to the transaction, the Funds’ maximum amount of loss, as either the buyer or seller, is the unrealized gain of the contract.
As of April 30, 2013, the Large Cap Strategies Fund had the following open Forwards:
Unrealized | ||||||||||||||||||||
Settlement | Appreciation/ | |||||||||||||||||||
Currency Purchased | Currency Sold | Counterparty | Date | (Depreciation) | ||||||||||||||||
U. S. Dollar | 185,000,000 | United Kingdom Pound | 120,470,731 | Bank of New York Mellon Corp. | 05/28/13 | $ | (5,202,581 | ) | ||||||||||||
U. S. Dollar | 120,349,630 | Euro | 92,369,509 | Bank of New York Mellon Corp. | 06/14/13 | (1,333,215 | ) | |||||||||||||
U. S. Dollar | 126,803,533 | Euro | 96,000,000 | Barclays Plc | 05/28/13 | 352,973 | ||||||||||||||
$ | (6,182,823 | ) |
As of April 30, 2013, the Global Small & Mid Cap Fund had the following open Forwards:
Currency Purchased | Currency Sold | Counterparty |
Settlement
Date |
Unrealized
Appreciation/ (Depreciation) |
||||||||||||||
U. S. Dollar | 26,152,767 | Australian Dollar | 25,594,500 | Citigroup, Inc. | 07/31/13 | $ | (198,964 | ) | ||||||||||
U. S. Dollar | 8,841,380 | New Zealand Dollar | 10,461,500 | Citigroup, Inc. | 07/31/13 | (68,057 | ) | |||||||||||
$ | (267,021 | ) |
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Notes To Financial Statements - (Continued) | |
April 30, 2013 (Unaudited) | |
As of April 30, 2013, the Global Opportunities Fund had the following open Forwards:
Unrealized | ||||||||||||||
Settlement | Appreciation/ | |||||||||||||
Currency Purchased | Currency Sold | Counterparty | Date | (Depreciation) | ||||||||||
Mexican Peso | 63,915,000 | U.S. Dollar | 4,976,835 | Bank of New York Mellon Corp. | 05/02/13 | $ | 286,092 | |||||||
Swedish Krona | 164,370,000 | U.S. Dollar | 25,824,646 | Bank of New York Mellon Corp. | 05/02/13 | (464,172 | ) | |||||||
Euro | 7,656,669 | U.S. Dollar | 10,025,719 | Bank of New York Mellon Corp. | 05/31/13 | 59,797 | ||||||||
Norwegian Krone | 202,663,050 | U.S. Dollar | 35,389,151 | Bank of New York Mellon Corp. | 06/03/13 | (291,070 | ) | |||||||
U.S. Dollar | 13,288,841 | Japanese Yen | 1,218,414,000 | Bank of New York Mellon Corp. | 06/03/13 | 788,220 | ||||||||
Norwegian Krone | 113,311,800 | U.S. Dollar | 19,889,731 | Bank of New York Mellon Corp. | 06/11/13 | (271,716 | ) | |||||||
U.S. Dollar | 35,373,922 | Euro | 27,004,537 | Bank of New York Mellon Corp. | 06/11/13 | (199,723 | ) | |||||||
U.S. Dollar | 24,810,566 | Swedish Krona | 164,370,000 | Barclays Plc | 05/02/13 | (549,908 | ) | |||||||
Euro | 10,963,630 | U.S. Dollar | 14,271,358 | Barclays Plc | 05/06/13 | 167,770 | ||||||||
U.S. Dollar | 3,481,146 | Canadian Dollar | 3,575,345 | Barclays Plc | 05/06/13 | (67,230 | ) | |||||||
Japanese Yen | 1,605,540,000 | U.S. Dollar | 16,152,314 | Barclays Plc | 05/07/13 | 317,870 | ||||||||
U.S. Dollar | 207,530 | Euro | 157,000 | Barclays Plc | 05/07/13 | 760 | ||||||||
U.S. Dollar | 49,733,648 | Euro | 36,994,071 | Barclays Plc | 05/14/13 | 1,009,798 | ||||||||
U.S. Dollar | 384,723 | Euro | 301,000 | Barclays Plc | 05/21/13 | (11,734 | ) | |||||||
Singapore Dollar | 24,660,000 | U.S. Dollar | 19,933,716 | Barclays Plc | 05/22/13 | 87,453 | ||||||||
Chinese Yuan | 62,600,000 | U.S. Dollar | 10,000,000 | Barclays Plc | 05/28/13 | 70,925 | ||||||||
Malaysian Ringgit | 45,795,000 | U.S. Dollar | 14,673,182 | Barclays Plc | 05/28/13 | 355,729 | ||||||||
U.S. Dollar | 19,619,370 | Chinese Yuan | 125,150,000 | Barclays Plc | 05/28/13 | (514,436 | ) | |||||||
U.S. Dollar | 8,676,123 | Japanese Yen | 806,142,000 | Barclays Plc | 05/28/13 | 405,576 | ||||||||
Singapore Dollar | 12,245,500 | U.S. Dollar | 9,833,129 | Barclays Plc | 06/11/13 | 108,959 | ||||||||
Mexican Peso | 206,752,500 | U.S. Dollar | 16,532,529 | Barclays Plc | 06/17/13 | 426,143 | ||||||||
Norwegian Krone | 31,660,000 | U.S. Dollar | 5,488,780 | Barclays Plc | 06/17/13 | (8,607 | ) | |||||||
Swedish Krona | 170,610,000 | U.S. Dollar | 26,525,504 | Barclays Plc | 06/17/13 | (229,650 | ) | |||||||
U.S. Dollar | 29,242,265 | Euro | 22,583,620 | Barclays Plc | 06/17/13 | (508,859 | ) | |||||||
U.S. Dollar | 21,887,303 | Japanese Yen | 2,103,650,000 | Barclays Plc | 06/17/13 | 302,699 | ||||||||
Chinese Yuan | 188,460,000 | U.S. Dollar | 30,000,000 | Barclays Plc | 07/05/13 | 322,922 | ||||||||
U.S. Dollar | 29,277,614 | Chinese Yuan | 188,460,000 | Barclays Plc | 07/05/13 | (1,045,308 | ) | |||||||
Singapore Dollar | 19,060,500 | U.S. Dollar | 15,353,826 | Barclays Plc | 07/08/13 | 121,737 | ||||||||
South African Rand | 40,451,500 | U.S. Dollar | 4,367,139 | Barclays Plc | 07/08/13 | 98,226 | ||||||||
U.S. Dollar | 18,877,248 | Euro | 14,646,945 | Barclays Plc | 07/08/13 | (421,259 | ) | |||||||
U.S. Dollar | 10,000,000 | Japanese Yen | 985,690,000 | Barclays Plc | 07/10/13 | (115,138 | ) | |||||||
U.S. Dollar | 893,244 | Euro | 729,000 | Barclays Plc | 07/16/13 | (67,330 | ) | |||||||
U.S. Dollar | 1,406,976 | Euro | 1,143,000 | Barclays Plc | 07/18/13 | (99,132 | ) | |||||||
Norwegian Krone | 141,953,510 | U.S. Dollar | 24,358,327 | Barclays Plc | 07/19/13 | 182,185 | ||||||||
U.S. Dollar | 1,058,395 | Euro | 857,000 | Barclays Plc | 07/19/13 | (70,865 | ) | |||||||
U.S. Dollar | 9,040,038 | Japanese Yen | 886,335,000 | Barclays Plc | 07/22/13 | (56,247 | ) | |||||||
U.S. Dollar | 24,161,924 | South Korean Won | 27,172,500,000 | Barclays Plc | 07/22/13 | (447,972 | ) | |||||||
Norwegian Krone | 16,471,500 | Euro | 2,187,102 | Barclays Plc | 07/26/13 | (35,339 | ) | |||||||
Swedish Krona | 164,370,000 | U.S. Dollar | 24,766,491 | Barclays Plc | 07/26/13 | 545,192 | ||||||||
U.S. Dollar | 14,279,582 | Euro | 10,963,630 | Barclays Plc | 07/26/13 | (167,854 | ) | |||||||
U.S. Dollar | 16,160,118 | Japanese Yen | 1,605,540,000 | Barclays Plc | 07/26/13 | (317,666 | ) | |||||||
Chinese Yuan | 126,220,000 | U.S. Dollar | 20,000,000 | Barclays Plc | 07/29/13 | 307,296 | ||||||||
U.S. Dollar | 2,065,479 | Japanese Yen | 185,480,000 | Barclays Plc | 07/29/13 | 161,845 |
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April 30, 2013 (Unaudited) | |
Unrealized | ||||||||||||||
Settlement | Appreciation/ | |||||||||||||
Currency Purchased | Currency Sold | Counterparty | Date | (Depreciation) | ||||||||||
U.S. Dollar | 60,150 | Euro | 48,862 | Barclays Plc | 08/01/13 | $ | (4,241 | ) | ||||||
U.S. Dollar | 59,938 | Euro | 48,730 | Barclays Plc | 08/01/13 | (4,280 | ) | |||||||
U.S. Dollar | 4,042,130 | Euro | 2,976,904 | Barclays Plc | 08/05/13 | 118,968 | ||||||||
U.S. Dollar | 746,555 | Euro | 603,889 | Barclays Plc | 08/05/13 | (49,290 | ) | |||||||
U.S. Dollar | 603,091 | Japanese Yen | 47,210,000 | Barclays Plc | 08/09/13 | 118,519 | ||||||||
Singapore Dollar | 4,400,417 | U.S. Dollar | 3,553,882 | Barclays Plc | 08/13/13 | 19,030 | ||||||||
U.S. Dollar | 1,601,232 | Euro | 1,290,000 | Barclays Plc | 08/16/13 | (98,966 | ) | |||||||
Chinese Yuan | 472,350,000 | U.S. Dollar | 75,000,000 | Barclays Plc | 08/19/13 | 986,946 | ||||||||
Singapore Dollar | 1,151,000 | U.S. Dollar | 930,402 | Barclays Plc | 08/19/13 | 4,156 | ||||||||
U.S. Dollar | 1,789,482 | Euro | 1,451,000 | Barclays Plc | 08/19/13 | (122,957 | ) | |||||||
Euro | 15,700,000 | U.S. Dollar | 20,355,049 | Barclays Plc | 08/20/13 | 337,947 | ||||||||
U.S. Dollar | 1,595,653 | Euro | 1,289,000 | Barclays Plc | 08/20/13 | (103,281 | ) | |||||||
U.S. Dollar | 29,140,351 | Euro | 23,470,000 | Barclays Plc | 08/20/13 | (1,793,702 | ) | |||||||
U.S. Dollar | 14,421,087 | Euro | 11,660,000 | Barclays Plc | 08/21/13 | (947,211 | ) | |||||||
U.S. Dollar | 29,993,481 | Euro | 24,200,000 | Barclays Plc | 08/22/13 | (1,903,243 | ) | |||||||
U.S. Dollar | 928,741 | Japanese Yen | 73,417,000 | Barclays Plc | 08/22/13 | 175,096 | ||||||||
U.S. Dollar | 274,916 | Euro | 219,546 | Barclays Plc | 08/23/13 | (14,459 | ) | |||||||
U.S. Dollar | 461,014 | Euro | 368,163 | Barclays Plc | 08/23/13 | (24,246 | ) | |||||||
Norwegian Krone | 10,525,000 | Euro | 1,405,376 | Barclays Plc | 08/26/13 | (35,336 | ) | |||||||
U.S. Dollar | 619,204 | Euro | 494,240 | Barclays Plc | 08/26/13 | (32,249 | ) | |||||||
U.S. Dollar | 2,612,299 | Japanese Yen | 205,823,000 | Barclays Plc | 08/26/13 | 499,403 | ||||||||
U.S. Dollar | 286,563 | Euro | 226,362 | Barclays Plc | 09/10/13 | (11,838 | ) | |||||||
U.S. Dollar | 285,089 | Euro | 222,087 | Barclays Plc | 09/12/13 | (7,682 | ) | |||||||
U.S. Dollar | 819,671 | Euro | 633,122 | Barclays Plc | 09/16/13 | (14,981 | ) | |||||||
U.S. Dollar | 195,989 | Euro | 148,781 | Barclays Plc | 09/19/13 | (155 | ) | |||||||
U.S. Dollar | 468,469 | Euro | 360,422 | Barclays Plc | 09/24/13 | (6,710 | ) | |||||||
U.S. Dollar | 174,289 | Euro | 133,614 | Barclays Plc | 10/25/13 | (1,913 | ) | |||||||
Hong Kong Dollar | 307,740,000 | U.S. Dollar | 40,000,000 | Barclays Plc | 10/28/13 | (310,766 | ) | |||||||
Hong Kong Dollar | 307,196,000 | U.S. Dollar | 40,000,000 | Barclays Plc | 10/28/13 | (380,926 | ) | |||||||
Norwegian Krone | 16,471,500 | Euro | 2,143,889 | Barclays Plc | 10/31/13 | 10,009 | ||||||||
U.S. Dollar | 423,789 | Euro | 325,538 | Barclays Plc | 11/05/13 | (5,553 | ) | |||||||
Chilean Unidad de Fomento | 100,700,000 | U.S. Dollar | 204,177 | Barclays Plc | 02/11/14 | 1,874 | ||||||||
U.S. Dollar | 6,200,198 | Euro | 4,589,000 | Barclays Plc | 02/11/14 | 142,341 | ||||||||
U.S. Dollar | 1,481,409 | Japanese Yen | 137,140,000 | Barclays Plc | 02/25/14 | 71,024 | ||||||||
U.S. Dollar | 2,962,767 | Japanese Yen | 274,010,000 | Barclays Plc | 02/27/14 | 144,710 | ||||||||
U.S. Dollar | 1,855,373 | Japanese Yen | 173,700,000 | Barclays Plc | 02/27/14 | 68,955 | ||||||||
Chinese Yuan | 154,612,500 | U.S. Dollar | 25,000,000 | Barclays Plc | 03/03/14 | (180,464 | ) | |||||||
U.S. Dollar | 24,128,043 | Chinese Yuan | 154,612,500 | Barclays Plc | 03/03/14 | (691,492 | ) | |||||||
Chilean Unidad de Fomento | 261,700,000 | U.S. Dollar | 528,420 | Barclays Plc | 03/05/14 | 5,808 | ||||||||
Chinese Yuan | 153,487,500 | U.S. Dollar | 25,000,000 | Barclays Plc | 03/07/14 | (362,113 | ) | |||||||
U.S. Dollar | 23,974,930 | Chinese Yuan | 153,487,500 | Barclays Plc | 03/07/14 | (662,957 | ) | |||||||
U.S. Dollar | 19,020,396 | Chinese Yuan | 123,100,000 | Barclays Plc | 03/07/14 | (739,675 | ) | |||||||
U.S. Dollar | 931,875 | Euro | 712,203 | Barclays Plc | 03/07/14 | (8,506 | ) | |||||||
U.S. Dollar | 1,473,448 | Euro | 1,131,038 | Barclays Plc | 03/10/14 | (19,998 | ) | |||||||
U.S. Dollar | 12,398,492 | Euro | 9,527,993 | Barclays Plc | 03/17/14 | (183,308 | ) | |||||||
U.S. Dollar | 377,137 | Euro | 290,418 | Barclays Plc | 03/21/14 | (6,377 | ) | |||||||
U.S. Dollar | 1,547,301 | Japanese Yen | 146,370,000 | Barclays Plc | 03/24/14 | 41,547 | ||||||||
Chinese Yuan | 61,515,000 | U.S. Dollar | 10,000,000 | Barclays Plc | 04/07/14 | (128,859 | ) | |||||||
U.S. Dollar | 9,398,778 | Chinese Yuan | 61,515,000 | Barclays Plc | 04/07/14 | (472,363 | ) | |||||||
U.S. Dollar | 808,798 | Euro | 628,412 | Barclays Plc | 04/07/14 | (21,192 | ) |
122 |
|
Old Westbury Funds, Inc. | |
Notes To Financial Statements - (Continued) | |
April 30, 2013 (Unaudited) | |
Unrealized | ||||||||||||||
Settlement | Appreciation/ | |||||||||||||
Currency Purchased | Currency Sold | Counterparty | Date | (Depreciation) | ||||||||||
U.S. Dollar | 18,927,250 | Chinese Yuan | 122,800,000 | Barclays Plc | 04/21/14 | $ | (775,172 | ) | ||||||
U.S. Dollar | 964,912 | Euro | 732,670 | Barclays Plc | 04/22/14 | (2,917 | ) | |||||||
U.S. Dollar | 1,332,367 | Euro | 1,020,033 | Barclays Plc | 04/25/14 | (15,100 | ) | |||||||
U.S. Dollar | 667,607 | Euro | 511,890 | Barclays Plc | 04/30/14 | (8,639 | ) | |||||||
Canadian Dollar | 3,575,345 | U.S. Dollar | 3,574,645 | Citigroup, Inc. | 05/06/13 | (26,269 | ) | |||||||
U.S. Dollar | 1,261,586 | Japanese Yen | 100,093,000 | Citigroup, Inc. | 05/10/13 | 234,782 | ||||||||
U.S. Dollar | 10,000,001 | Euro | 7,449,389 | Citigroup, Inc. | 05/13/13 | 188,685 | ||||||||
U.S. Dollar | 629,425 | Japanese Yen | 50,022,000 | Citigroup, Inc. | 05/14/13 | 116,264 | ||||||||
Australian Dollar | 4,806,130 | U.S. Dollar | 4,919,666 | Citigroup, Inc. | 05/28/13 | 51,639 | ||||||||
Mexican Peso | 65,453,700 | U.S. Dollar | 5,084,928 | Citigroup, Inc. | 05/28/13 | 292,707 | ||||||||
U.S. Dollar | 10,000,001 | Euro | 7,656,669 | Citigroup, Inc. | 05/31/13 | (85,515 | ) | |||||||
Euro | 35,119,484 | U.S. Dollar | 45,845,784 | Citigroup, Inc. | 06/14/13 | 418,820 | ||||||||
U.S. Dollar | 705,638 | Japanese Yen | 55,787,000 | Citigroup, Inc. | 06/14/13 | 133,242 | ||||||||
Swedish Krona | 43,658,433 | Euro | 4,973,421 | Citigroup, Inc. | 06/27/13 | 175,179 | ||||||||
U.S. Dollar | 517,244 | Euro | 398,462 | Citigroup, Inc. | 07/26/13 | (7,834 | ) | |||||||
U.S. Dollar | 330,937 | Euro | 265,136 | Citigroup, Inc. | 08/08/13 | (18,485 | ) | |||||||
U.S. Dollar | 95,867 | Euro | 76,711 | Citigroup, Inc. | 08/09/13 | (5,232 | ) | |||||||
U.S. Dollar | 603,389 | Japanese Yen | 47,220,000 | Citigroup, Inc. | 08/09/13 | 118,714 | ||||||||
U.S. Dollar | 5,668,619 | Japanese Yen | 449,157,000 | Citigroup, Inc. | 08/13/13 | 1,058,237 | ||||||||
U.S. Dollar | 1,855,715 | Japanese Yen | 146,685,000 | Citigroup, Inc. | 08/23/13 | 349,943 | ||||||||
Chilean Unidad de Fomento | 974,634,000 | U.S. Dollar | 2,002,947 | Citigroup, Inc. | 10/28/13 | 16,214 | ||||||||
U.S. Dollar | 401,706 | Japanese Yen | 32,085,087 | Citigroup, Inc. | 11/08/13 | 72,126 | ||||||||
U.S. Dollar | 5,668,619 | Japanese Yen | 451,214,700 | Citigroup, Inc. | 11/12/13 | 1,033,513 | ||||||||
U.S. Dollar | 5,668,614 | Japanese Yen | 450,156,000 | Citigroup, Inc. | 11/13/13 | 1,044,333 | ||||||||
U.S. Dollar | 596,694 | Japanese Yen | 47,197,000 | Citigroup, Inc. | 11/15/13 | 111,847 | ||||||||
U.S. Dollar | 2,193,186 | Japanese Yen | 177,080,000 | Citigroup, Inc. | 11/19/13 | 373,991 | ||||||||
U.S. Dollar | 2,458,982 | Japanese Yen | 198,912,000 | Citigroup, Inc. | 11/20/13 | 415,479 | ||||||||
U.S. Dollar | 301,207 | Japanese Yen | 26,280,000 | Citigroup, Inc. | 01/10/14 | 31,072 | ||||||||
U.S. Dollar | 1,338,202 | Euro | 999,800 | Citigroup, Inc. | 01/28/14 | 18,560 | ||||||||
U.S. Dollar | 3,931,156 | Euro | 2,903,000 | Citigroup, Inc. | 02/10/14 | 98,993 | ||||||||
U.S. Dollar | 5,925,601 | Japanese Yen | 547,570,000 | Citigroup, Inc. | 02/13/14 | 294,977 | ||||||||
U.S. Dollar | 2,962,778 | Japanese Yen | 273,460,000 | Citigroup, Inc. | 02/19/14 | 150,624 | ||||||||
Chilean Unidad de Fomento | 422,200,000 | U.S. Dollar | 858,479 | Citigroup, Inc. | 02/20/14 | 4,588 | ||||||||
U.S. Dollar | 1,410,966 | Euro | 1,080,000 | Citigroup, Inc. | 03/10/14 | (15,089 | ) | |||||||
U.S. Dollar | 24,456,237 | Euro | 18,838,791 | Citigroup, Inc. | 03/18/14 | (420,791 | ) | |||||||
Polish Zloty | 10,400,000 | Euro | 2,434,685 | Citigroup, Inc. | 03/19/14 | 18,056 | ||||||||
U.S. Dollar | 3,035,336 | Japanese Yen | 288,190,000 | Citigroup, Inc. | 03/19/14 | 70,799 | ||||||||
U.S. Dollar | 3,468,343 | Japanese Yen | 331,140,000 | Citigroup, Inc. | 03/19/14 | 61,989 | ||||||||
U.S. Dollar | 806,913 | Euro | 620,368 | Citigroup, Inc. | 03/26/14 | (12,359 | ) | |||||||
U.S. Dollar | 285,196 | Euro | 216,000 | Credit Suisse Group AG | 05/07/13 | 721 | ||||||||
U.S. Dollar | 435,600 | Euro | 330,000 | Deutsche Bank AG | 05/06/13 | 989 | ||||||||
U.S. Dollar | 336,095 | Euro | 255,000 | Deutsche Bank AG | 05/08/13 | 255 | ||||||||
Philippines Peso | 35,386,000 | U.S. Dollar | 858,134 | Deutsche Bank AG | 05/10/13 | 2,107 | ||||||||
U.S. Dollar | 204,909 | Euro | 157,000 | Deutsche Bank AG | 05/10/13 | (1,866 | ) | |||||||
U.S. Dollar | 846,018 | Japanese Yen | 66,920,000 | Deutsche Bank AG | 05/13/13 | 159,509 | ||||||||
U.S. Dollar | 385,987 | Euro | 301,000 | Deutsche Bank AG | 05/20/13 | (10,467 | ) | |||||||
U.S. Dollar | 559,769 | Euro | 439,000 | Deutsche Bank AG | 05/21/13 | (18,452 | ) | |||||||
Indian Rupee | 24,142,000 | U.S. Dollar | 436,115 | Deutsche Bank AG | 05/28/13 | 12,921 | ||||||||
Indian Rupee | 28,199,500 | U.S. Dollar | 518,740 | Deutsche Bank AG | 05/29/13 | 5,711 | ||||||||
Indian Rupee | 37,818,000 | U.S. Dollar | 691,580 | Deutsche Bank AG | 06/04/13 | 11,183 |
123 |
|
Old Westbury Funds, Inc. | |
Notes To Financial Statements - (Continued) | |
April 30, 2013 (Unaudited) | |
Unrealized | ||||||||||||||
Settlement | Appreciation/ | |||||||||||||
Currency Purchased | Currency Sold | Counterparty | Date | (Depreciation) | ||||||||||
U.S. Dollar | 365,417 | Euro | 293,760 | Deutsche Bank AG | 06/05/13 | $ | (21,543 | ) | ||||||
U.S. Dollar | 2,102,242 | Euro | 1,690,000 | Deutsche Bank AG | 06/05/13 | (123,937 | ) | |||||||
Indian Rupee | 17,072,000 | U.S. Dollar | 304,521 | Deutsche Bank AG | 06/06/13 | 12,633 | ||||||||
Indian Rupee | 27,856,000 | U.S. Dollar | 500,764 | Deutsche Bank AG | 06/07/13 | 16,656 | ||||||||
U.S. Dollar | 951,967 | Euro | 760,600 | Deutsche Bank AG | 06/07/13 | (49,959 | ) | |||||||
U.S. Dollar | 2,127,720 | Euro | 1,700,000 | Deutsche Bank AG | 06/07/13 | (111,663 | ) | |||||||
Indian Rupee | 7,542,000 | U.S. Dollar | 135,350 | Deutsche Bank AG | 06/11/13 | 4,662 | ||||||||
U.S. Dollar | 686,068 | Euro | 540,850 | Deutsche Bank AG | 06/11/13 | (26,405 | ) | |||||||
U.S. Dollar | 100,914 | Euro | 80,000 | Deutsche Bank AG | 06/13/13 | (4,474 | ) | |||||||
U.S. Dollar | 478,078 | Euro | 379,000 | Deutsche Bank AG | 06/13/13 | (21,193 | ) | |||||||
Indian Rupee | 74,306,000 | U.S. Dollar | 1,347,246 | Deutsche Bank AG | 06/17/13 | 31,012 | ||||||||
Indian Rupee | 18,877,000 | U.S. Dollar | 340,605 | Deutsche Bank AG | 06/18/13 | 9,484 | ||||||||
Indian Rupee | 17,195,000 | U.S. Dollar | 311,157 | Deutsche Bank AG | 06/20/13 | 7,647 | ||||||||
Singapore Dollar | 1,969,400 | U.S. Dollar | 1,577,287 | Deutsche Bank AG | 06/21/13 | 21,677 | ||||||||
South Korean Won | 469,000,000 | U.S. Dollar | 398,488 | Deutsche Bank AG | 06/27/13 | 26,693 | ||||||||
U.S. Dollar | 410,503 | South Korean Won | 469,000,000 | Deutsche Bank AG | 06/27/13 | (14,677 | ) | |||||||
Indian Rupee | 56,904,000 | U.S. Dollar | 1,027,124 | Deutsche Bank AG | 07/12/13 | 24,026 | ||||||||
Indian Rupee | 13,777,000 | U.S. Dollar | 251,670 | Deutsche Bank AG | 07/22/13 | 2,354 | ||||||||
U.S. Dollar | 775,214 | Euro | 629,000 | Deutsche Bank AG | 07/22/13 | (53,632 | ) | |||||||
U.S. Dollar | 702,810 | Euro | 571,000 | Deutsche Bank AG | 07/23/13 | (49,614 | ) | |||||||
Indian Rupee | 27,912,000 | U.S. Dollar | 506,758 | Deutsche Bank AG | 07/26/13 | 7,511 | ||||||||
Indian Rupee | 28,199,500 | U.S. Dollar | 513,498 | Deutsche Bank AG | 07/29/13 | 5,782 | ||||||||
Indian Rupee | 26,507,000 | U.S. Dollar | 481,477 | Deutsche Bank AG | 07/31/13 | 6,478 | ||||||||
U.S. Dollar | 3,698,520 | Euro | 2,975,000 | Deutsche Bank AG | 07/31/13 | (221,975 | ) | |||||||
U.S. Dollar | 1,499,592 | Euro | 1,200,000 | Deutsche Bank AG | 08/09/13 | (81,898 | ) | |||||||
U.S. Dollar | 605,008 | Japanese Yen | 47,210,000 | Deutsche Bank AG | 08/12/13 | 120,424 | ||||||||
Polish Zloty | 11,489,000 | Euro | 2,702,023 | Deutsche Bank AG | 08/19/13 | 48,199 | ||||||||
U.S. Dollar | 1,151,088 | Japanese Yen | 90,125,000 | Deutsche Bank AG | 08/19/13 | 225,953 | ||||||||
U.S. Dollar | 938,867 | Japanese Yen | 73,510,000 | Deutsche Bank AG | 08/19/13 | 184,286 | ||||||||
Chilean Unidad de Fomento | 2,167,200,000 | U.S. Dollar | 4,300,000 | Deutsche Bank AG | 08/20/13 | 230,167 | ||||||||
U.S. Dollar | 1,008,035 | Euro | 814,000 | Deutsche Bank AG | 08/20/13 | (64,838 | ) | |||||||
Chilean Unidad de Fomento | 1,087,040,000 | U.S. Dollar | 2,150,000 | Deutsche Bank AG | 08/21/13 | 121,994 | ||||||||
Chilean Unidad de Fomento | 1,083,600,000 | U.S. Dollar | 2,150,000 | Deutsche Bank AG | 08/21/13 | 114,804 | ||||||||
U.S. Dollar | 918,451 | Japanese Yen | 72,553,000 | Deutsche Bank AG | 08/23/13 | 173,669 | ||||||||
U.S. Dollar | 1,557,604 | Japanese Yen | 121,842,000 | Deutsche Bank AG | 08/27/13 | 306,813 | ||||||||
U.S. Dollar | 12,313 | Euro | 9,797 | Deutsche Bank AG | 08/28/13 | (600 | ) | |||||||
U.S. Dollar | 278,008 | Euro | 221,193 | Deutsche Bank AG | 08/28/13 | (13,549 | ) | |||||||
U.S. Dollar | 150,148 | Euro | 119,000 | Deutsche Bank AG | 09/04/13 | (6,716 | ) | |||||||
U.S. Dollar | 329,951 | Euro | 261,000 | Deutsche Bank AG | 09/10/13 | (14,112 | ) | |||||||
U.S. Dollar | 694,668 | Euro | 540,850 | Deutsche Bank AG | 09/11/13 | (18,312 | ) | |||||||
U.S. Dollar | 24,390,376 | Euro | 18,919,000 | Deutsche Bank AG | 09/13/13 | (550,156 | ) | |||||||
Philippines Peso | 29,828,000 | U.S. Dollar | 713,554 | Deutsche Bank AG | 09/24/13 | 12,398 | ||||||||
U.S. Dollar | 2,234,056 | Euro | 1,720,000 | Deutsche Bank AG | 09/24/13 | (33,585 | ) | |||||||
U.S. Dollar | 1,036,408 | Euro | 800,000 | Deutsche Bank AG | 09/26/13 | (18,326 | ) | |||||||
Chilean Unidad de Fomento | 231,460,000 | U.S. Dollar | 478,223 | Deutsche Bank AG | 09/30/13 | 2,941 | ||||||||
Philippines Peso | 36,054,000 | U.S. Dollar | 862,536 | Deutsche Bank AG | 10/04/13 | 14,995 | ||||||||
Philippines Peso | 8,431,000 | U.S. Dollar | 202,576 | Deutsche Bank AG | 10/16/13 | 2,644 |
124 |
|
Old Westbury Funds, Inc. | |
Notes To Financial Statements - (Continued) | |
April 30, 2013 (Unaudited) | |
Unrealized | ||||||||||||||
Settlement | Appreciation/ | |||||||||||||
Currency Purchased | Currency Sold | Counterparty | Date | (Depreciation) | ||||||||||
Malaysian Ringgit | 1,980,000 | U.S. Dollar | 638,607 | Deutsche Bank AG | 10/23/13 | $ | 5,762 | |||||||
U.S. Dollar | 885,254 | Euro | 684,003 | Deutsche Bank AG | 10/31/13 | (16,814 | ) | |||||||
U.S. Dollar | 59,892 | Euro | 45,895 | Deutsche Bank AG | 11/04/13 | (637 | ) | |||||||
U.S. Dollar | 9,200,600 | Euro | 7,160,000 | Deutsche Bank AG | 11/08/13 | (242,759 | ) | |||||||
U.S. Dollar | 5,370,974 | Japanese Yen | 425,263,000 | Deutsche Bank AG | 11/13/13 | 1,002,410 | ||||||||
U.S. Dollar | 235,133 | Euro | 184,184 | Deutsche Bank AG | 11/15/13 | (7,804 | ) | |||||||
Malaysian Ringgit | 2,056,560 | U.S. Dollar | 660,000 | Deutsche Bank AG | 11/19/13 | 8,454 | ||||||||
U.S. Dollar | 65,212 | Euro | 50,759 | Deutsche Bank AG | 11/19/13 | (1,741 | ) | |||||||
U.S. Dollar | 1,765,160 | Japanese Yen | 143,060,000 | Deutsche Bank AG | 11/19/13 | 295,463 | ||||||||
U.S. Dollar | 1,021,759 | Euro | 798,000 | Deutsche Bank AG | 11/20/13 | (30,845 | ) | |||||||
U.S. Dollar | 873,650 | Euro | 670,000 | Deutsche Bank AG | 12/03/13 | (10,223 | ) | |||||||
Australian Dollar | 1,691,000 | U.S. Dollar | 1,732,345 | Deutsche Bank AG | 12/13/13 | (7,625 | ) | |||||||
Malaysian Ringgit | 1,633,900 | U.S. Dollar | 528,206 | Deutsche Bank AG | 01/08/14 | 1,711 | ||||||||
U.S. Dollar | 1,471,964 | Euro | 1,111,000 | Deutsche Bank AG | 01/14/14 | 5,741 | ||||||||
U.S. Dollar | 297,101 | Japanese Yen | 26,360,000 | Deutsche Bank AG | 01/16/14 | 26,126 | ||||||||
U.S. Dollar | 1,299,198 | Euro | 971,000 | Deutsche Bank AG | 01/17/14 | 17,701 | ||||||||
U.S. Dollar | 3,934,081 | Japanese Yen | 348,750,000 | Deutsche Bank AG | 01/17/14 | 348,965 | ||||||||
Chilean Unidad de Fomento | 411,630,000 | U.S. Dollar | 836,646 | Deutsche Bank AG | 01/22/14 | 7,460 | ||||||||
Chilean Unidad de Fomento | 583,870,000 | U.S. Dollar | 1,187,814 | Deutsche Bank AG | 01/24/14 | 9,212 | ||||||||
Chilean Unidad de Fomento | 363,560,000 | U.S. Dollar | 739,394 | Deutsche Bank AG | 01/28/14 | 5,634 | ||||||||
U.S. Dollar | 1,722,223 | Japanese Yen | 154,225,103 | Deutsche Bank AG | 01/28/14 | 136,614 | ||||||||
Chilean Unidad de Fomento | 117,450,000 | U.S. Dollar | 239,376 | Deutsche Bank AG | 01/29/14 | 1,283 | ||||||||
Chilean Unidad de Fomento | 234,900,000 | U.S. Dollar | 477,197 | Deutsche Bank AG | 01/31/14 | 4,019 | ||||||||
Chilean Unidad de Fomento | 219,210,000 | U.S. Dollar | 443,835 | Deutsche Bank AG | 02/03/14 | 5,094 | ||||||||
U.S. Dollar | 5,482,688 | Euro | 4,050,000 | Deutsche Bank AG | 02/07/14 | 136,558 | ||||||||
U.S. Dollar | 2,120,250 | Euro | 1,580,000 | Deutsche Bank AG | 02/11/14 | 34,520 | ||||||||
U.S. Dollar | 834,680 | Euro | 622,000 | Deutsche Bank AG | 02/11/14 | 13,589 | ||||||||
Chilean Unidad de Fomento | 100,900,000 | U.S. Dollar | 204,292 | Deutsche Bank AG | 02/12/14 | 2,145 | ||||||||
Chilean Unidad de Fomento | 83,490,000 | U.S. Dollar | 169,361 | Deutsche Bank AG | 02/14/14 | 1,420 | ||||||||
Chilean Unidad de Fomento | 295,220,000 | U.S. Dollar | 598,787 | Deutsche Bank AG | 02/18/14 | 4,835 | ||||||||
U.S. Dollar | 23,067,992 | Euro | 17,260,000 | Deutsche Bank AG | 02/19/14 | 281,641 | ||||||||
Chilean Unidad de Fomento | 176,590,000 | U.S. Dollar | 357,036 | Deutsche Bank AG | 02/25/14 | 3,759 | ||||||||
Chilean Unidad de Fomento | 202,500,000 | U.S. Dollar | 409,091 | Deutsche Bank AG | 02/26/14 | 4,597 | ||||||||
Chilean Unidad de Fomento | 309,490,000 | U.S. Dollar | 625,738 | Deutsche Bank AG | 02/27/14 | 6,452 | ||||||||
U.S. Dollar | 3,541,405 | Euro | 2,677,770 | Deutsche Bank AG | 02/27/14 | 5,990 | ||||||||
U.S. Dollar | 439,513 | Euro | 332,330 | Deutsche Bank AG | 02/27/14 | 743 | ||||||||
U.S. Dollar | 1,002,005 | Japanese Yen | 91,718,000 | Deutsche Bank AG | 02/27/14 | 58,731 | ||||||||
Chilean Unidad de Fomento | 68,400,000 | U.S. Dollar | 138,104 | Deutsche Bank AG | 02/28/14 | 1,601 |
125 |
|
Old Westbury Funds, Inc. | |
Notes To Financial Statements - (Continued) | |
April 30, 2013 (Unaudited) | |
Unrealized | ||||||||||||||
Settlement | Appreciation/ | |||||||||||||
Currency Purchased | Currency Sold | Counterparty | Date | (Depreciation) | ||||||||||
Singapore Dollar | 700,000 | U.S. Dollar | 565,565 | Deutsche Bank AG | 02/28/14 | $ | 2,986 | |||||||
Chilean Unidad de Fomento | 225,065,000 | U.S. Dollar | 454,723 | Deutsche Bank AG | 03/03/14 | 4,817 | ||||||||
U.S. Dollar | 11,341,939 | Euro | 8,620,132 | Deutsche Bank AG | 03/03/14 | (39,507 | ) | |||||||
Chilean Unidad de Fomento | 225,065,000 | U.S. Dollar | 453,486 | Deutsche Bank AG | 03/05/14 | 5,956 | ||||||||
Swedish Krona | 84,036,600 | Euro | 9,836,896 | Deutsche Bank AG | 03/05/14 | (102,723 | ) | |||||||
U.S. Dollar | 139,368 | Euro | 107,000 | Deutsche Bank AG | 03/05/14 | (1,911 | ) | |||||||
Chilean Unidad de Fomento | 245,410,000 | U.S. Dollar | 494,031 | Deutsche Bank AG | 03/06/14 | 6,889 | ||||||||
Chilean Unidad de Fomento | 243,930,000 | U.S. Dollar | 492,539 | Deutsche Bank AG | 03/07/14 | 5,307 | ||||||||
U.S. Dollar | 2,486,910 | Euro | 1,900,000 | Deutsche Bank AG | 03/07/14 | (21,818 | ) | |||||||
U.S. Dollar | 3,778,410 | Euro | 2,900,000 | Deutsche Bank AG | 03/12/14 | (50,884 | ) | |||||||
Chilean Unidad de Fomento | 237,320,000 | U.S. Dollar | 479,822 | Deutsche Bank AG | 03/13/14 | 4,223 | ||||||||
Swedish Krona | 17,601,656 | Euro | 2,090,284 | Deutsche Bank AG | 03/13/14 | (61,657 | ) | |||||||
Chilean Unidad de Fomento | 2,375,135,000 | U.S. Dollar | 4,814,788 | Deutsche Bank AG | 03/18/14 | 27,028 | ||||||||
Hungary Forint | 884,944,400 | Euro | 2,802,430 | Deutsche Bank AG | 03/19/14 | 103,850 | ||||||||
U.S. Dollar | 1,909,933 | Japanese Yen | 182,083,500 | Deutsche Bank AG | 03/19/14 | 36,886 | ||||||||
U.S. Dollar | 1,517,641 | Japanese Yen | 143,285,000 | Deutsche Bank AG | 03/24/14 | 43,624 | ||||||||
U.S. Dollar | 799,039 | Euro | 615,000 | Deutsche Bank AG | 03/26/14 | (13,144 | ) | |||||||
U.S. Dollar | 194,301 | Euro | 150,689 | Deutsche Bank AG | 03/31/14 | (4,711 | ) | |||||||
U.S. Dollar | 608,503 | Euro | 473,488 | Deutsche Bank AG | 04/03/14 | (16,843 | ) | |||||||
Chilean Unidad de Fomento | 245,910,000 | U.S. Dollar | 497,995 | Deutsche Bank AG | 04/04/14 | 2,396 | ||||||||
U.S. Dollar | 1,774,980 | Euro | 1,379,000 | Deutsche Bank AG | 04/04/14 | (46,314 | ) | |||||||
U.S. Dollar | 971,409 | Euro | 742,242 | Deutsche Bank AG | 04/11/14 | (8,961 | ) | |||||||
Swedish Krona | 28,478,956 | Euro | 3,329,898 | Deutsche Bank AG | 04/22/14 | (36,013 | ) | |||||||
U.S. Dollar | 1,127,202 | Euro | 860,000 | Deutsche Bank AG | 04/23/14 | (8,835 | ) | |||||||
U.S. Dollar | 589,879 | Euro | 475,000 | Goldman Sachs Group, Inc. | 08/12/13 | (36,143 | ) | |||||||
U.S. Dollar | 1,116,586 | Euro | 902,000 | Goldman Sachs Group, Inc. | 08/14/13 | (72,216 | ) | |||||||
U.S. Dollar | 346,509 | Japanese Yen | 32,163,000 | Goldman Sachs Group, Inc. | 02/12/14 | 15,783 | ||||||||
U.S. Dollar | 224,064 | Japanese Yen | 20,855,910 | Goldman Sachs Group, Inc. | 02/18/14 | 9,593 | ||||||||
U.S. Dollar | 2,962,787 | Japanese Yen | 274,640,000 | Goldman Sachs Group, Inc. | 02/19/14 | 138,498 | ||||||||
U.S. Dollar | 2,114,988 | Euro | 1,580,000 | Goldman Sachs Group, Inc. | 02/21/14 | 29,060 | ||||||||
Philippines Peso | 17,664,000 | U.S. Dollar | 429,562 | HSBC Holdings Plc | 05/14/13 | (146 | ) | |||||||
Indian Rupee | 27,858,000 | U.S. Dollar | 503,334 | HSBC Holdings Plc | 05/28/13 | 14,819 | ||||||||
Indian Rupee | 43,702,000 | U.S. Dollar | 799,327 | HSBC Holdings Plc | 06/04/13 | 12,777 | ||||||||
Indian Rupee | 7,436,000 | U.S. Dollar | 133,527 | HSBC Holdings Plc | 06/11/13 | 4,517 | ||||||||
Indian Rupee | 18,770,000 | U.S. Dollar | 339,708 | HSBC Holdings Plc | 06/13/13 | 8,643 | ||||||||
Indian Rupee | 203,451,000 | U.S. Dollar | 3,689,684 | HSBC Holdings Plc | 06/19/13 | 82,934 | ||||||||
Singapore Dollar | 1,574,000 | U.S. Dollar | 1,260,410 | HSBC Holdings Plc | 06/21/13 | 17,527 | ||||||||
Indian Rupee | 29,446,000 | U.S. Dollar | 534,711 | HSBC Holdings Plc | 06/28/13 | 10,612 | ||||||||
Indian Rupee | 19,137,000 | U.S. Dollar | 347,797 | HSBC Holdings Plc | 07/29/13 | 4,602 | ||||||||
Indian Rupee | 12,846,000 | U.S. Dollar | 233,812 | HSBC Holdings Plc | 07/29/13 | 2,740 | ||||||||
U.S. Dollar | 3,681,117 | Euro | 2,975,000 | HSBC Holdings Plc | 08/02/13 | (239,441 | ) | |||||||
Singapore Dollar | 864,000 | U.S. Dollar | 693,926 | HSBC Holdings Plc | 08/15/13 | 7,599 | ||||||||
Singapore Dollar | 864,000 | U.S. Dollar | 693,976 | HSBC Holdings Plc | 08/19/13 | 7,551 | ||||||||
U.S. Dollar | 3,897,237 | Japanese Yen | 307,492,000 | HSBC Holdings Plc | 08/20/13 | 740,801 |
126 |
|
Old Westbury Funds, Inc. | |
Notes To Financial Statements - (Continued) | |
April 30, 2013 (Unaudited) | |
Unrealized | ||||||||||||||
Settlement | Appreciation/ | |||||||||||||
Currency Purchased | Currency Sold | Counterparty | Date | (Depreciation) | ||||||||||
U.S. Dollar | 1,844,132 | Japanese Yen | 145,609,000 | HSBC Holdings Plc | 08/23/13 | $ | 349,405 | |||||||
U.S. Dollar | 2,998,184 | Japanese Yen | 234,458,000 | HSBC Holdings Plc | 08/27/13 | 591,314 | ||||||||
Philippines Peso | 36,100,000 | U.S. Dollar | 860,795 | HSBC Holdings Plc | 09/30/13 | 17,834 | ||||||||
Philippines Peso | 28,800,000 | U.S. Dollar | 690,465 | HSBC Holdings Plc | 10/03/13 | 10,503 | ||||||||
Philippines Peso | 28,921,000 | U.S. Dollar | 693,316 | HSBC Holdings Plc | 10/04/13 | 10,602 | ||||||||
Philippines Peso | 43,117,000 | U.S. Dollar | 1,036,740 | HSBC Holdings Plc | 10/07/13 | 12,718 | ||||||||
Philippines Peso | 24,870,000 | U.S. Dollar | 598,398 | HSBC Holdings Plc | 10/11/13 | 6,948 | ||||||||
U.S. Dollar | 2,941,900 | Euro | 2,263,000 | HSBC Holdings Plc | 10/17/13 | (42,198 | ) | |||||||
Malaysian Ringgit | 2,647,000 | U.S. Dollar | 859,360 | HSBC Holdings Plc | 10/22/13 | 2,128 | ||||||||
Malaysian Ringgit | 1,321,026 | U.S. Dollar | 426,000 | HSBC Holdings Plc | 10/24/13 | 3,888 | ||||||||
U.S. Dollar | 751,344 | Japanese Yen | 70,138,000 | HSBC Holdings Plc | 11/12/13 | 30,851 | ||||||||
Malaysian Ringgit | 1,244,000 | U.S. Dollar | 398,562 | HSBC Holdings Plc | 11/20/13 | 5,764 | ||||||||
U.S. Dollar | 462,182 | Japanese Yen | 37,330,000 | HSBC Holdings Plc | 11/20/13 | 78,676 | ||||||||
U.S. Dollar | 947,656 | Euro | 720,487 | HSBC Holdings Plc | 12/09/13 | (2,873 | ) | |||||||
U.S. Dollar | 1,118,679 | Japanese Yen | 98,220,000 | HSBC Holdings Plc | 01/15/14 | 109,009 | ||||||||
U.S. Dollar | 2,231,266 | Japanese Yen | 199,698,335 | HSBC Holdings Plc | 01/28/14 | 178,141 | ||||||||
Singapore Dollar | 1,468,000 | U.S. Dollar | 1,186,646 | HSBC Holdings Plc | 02/07/14 | 5,632 | ||||||||
U.S. Dollar | 2,509,962 | Euro | 1,856,000 | HSBC Holdings Plc | 02/10/14 | 59,913 | ||||||||
U.S. Dollar | 4,444,265 | Japanese Yen | 413,370,000 | HSBC Holdings Plc | 02/12/14 | 193,657 | ||||||||
U.S. Dollar | 548,529 | Japanese Yen | 51,260,000 | HSBC Holdings Plc | 02/24/14 | 21,362 | ||||||||
U.S. Dollar | 596,376 | Japanese Yen | 54,300,000 | HSBC Holdings Plc | 03/04/14 | 37,897 | ||||||||
Mexican Peso | 50,041,430 | U.S. Dollar | 3,809,198 | HSBC Holdings Plc | 03/10/14 | 205,298 | ||||||||
U.S. Dollar | 375,840 | Euro | 288,000 | HSBC Holdings Plc | 03/10/14 | (4,441 | ) | |||||||
Singapore Dollar | 2,488,300 | U.S. Dollar | 1,995,109 | HSBC Holdings Plc | 03/14/14 | 25,991 | ||||||||
Singapore Dollar | 2,091,000 | U.S. Dollar | 1,676,085 | HSBC Holdings Plc | 03/19/14 | 22,330 | ||||||||
U.S. Dollar | 9,570,055 | Japanese Yen | 916,524,148 | HSBC Holdings Plc | 03/19/14 | 142,003 | ||||||||
U.S. Dollar | 2,440,556 | Euro | 1,864,543 | HSBC Holdings Plc | 04/16/14 | (22,292 | ) | |||||||
U.S. Dollar | 5,212,439 | Mexican Peso | 63,915,000 | JPMorgan Chase & Co. | 05/02/13 | (50,488 | ) | |||||||
Philippines Peso | 11,388,000 | U.S. Dollar | 276,100 | JPMorgan Chase & Co. | 05/10/13 | 745 | ||||||||
U.S. Dollar | 27,565,723 | Norwegian Krone | 160,325,000 | JPMorgan Chase & Co. | 05/14/13 | (221,736 | ) | |||||||
Indian Rupee | 46,822,000 | U.S. Dollar | 853,886 | JPMorgan Chase & Co. | 05/15/13 | 18,138 | ||||||||
Chinese Yuan | 471,750,000 | U.S. Dollar | 75,000,000 | JPMorgan Chase & Co. | 05/20/13 | 898,162 | ||||||||
Indian Rupee | 158,600,000 | U.S. Dollar | 2,876,341 | JPMorgan Chase & Co. | 05/21/13 | 75,670 | ||||||||
Chinese Yuan | 62,550,000 | U.S. Dollar | 10,000,000 | JPMorgan Chase & Co. | 05/28/13 | 62,881 | ||||||||
Mexican Peso | 276,175,000 | U.S. Dollar | 21,463,489 | JPMorgan Chase & Co. | 05/28/13 | 1,226,874 | ||||||||
Indian Rupee | 11,915,000 | U.S. Dollar | 218,690 | JPMorgan Chase & Co. | 05/31/13 | 2,850 | ||||||||
Chinese Yuan | 62,700,000 | U.S. Dollar | 10,000,000 | JPMorgan Chase & Co. | 06/13/13 | 87,629 | ||||||||
Indian Rupee | 170,209,200 | U.S. Dollar | 3,079,968 | JPMorgan Chase & Co. | 06/13/13 | 78,937 | ||||||||
U.S. Dollar | 9,822,967 | Chinese Yuan | 62,700,000 | JPMorgan Chase & Co. | 06/13/13 | (264,662 | ) | |||||||
Indian Rupee | 40,031,000 | U.S. Dollar | 727,142 | JPMorgan Chase & Co. | 06/17/13 | 15,369 | ||||||||
Indian Rupee | 28,975,000 | U.S. Dollar | 523,998 | JPMorgan Chase & Co. | 06/25/13 | 12,831 | ||||||||
Russian Ruble | 297,500,000 | U.S. Dollar | 9,285,964 | JPMorgan Chase & Co. | 07/05/13 | 158,555 | ||||||||
Mexican Peso | 200,692,500 | U.S. Dollar | 16,138,119 | JPMorgan Chase & Co. | 07/08/13 | 294,071 | ||||||||
U.S. Dollar | 34,904,137 | Japanese Yen | 3,355,781,500 | JPMorgan Chase & Co. | 07/08/13 | 467,611 | ||||||||
U.S. Dollar | 10,000,000 | Japanese Yen | 994,435,000 | JPMorgan Chase & Co. | 07/16/13 | (205,286 | ) | |||||||
Indian Rupee | 39,295,000 | U.S. Dollar | 712,266 | JPMorgan Chase & Co. | 07/18/13 | 12,801 | ||||||||
Indian Rupee | 27,515,000 | U.S. Dollar | 502,811 | JPMorgan Chase & Co. | 07/22/13 | 4,518 | ||||||||
Mexican Peso | 63,915,000 | U.S. Dollar | 5,175,926 | JPMorgan Chase & Co. | 07/26/13 | 48,864 | ||||||||
Indian Rupee | 23,738,000 | U.S. Dollar | 432,256 | JPMorgan Chase & Co. | 07/29/13 | 4,867 | ||||||||
Indian Rupee | 7,860,000 | U.S. Dollar | 143,126 | JPMorgan Chase & Co. | 07/29/13 | 1,612 | ||||||||
Singapore Dollar | 6,427,600 | U.S. Dollar | 5,152,385 | JPMorgan Chase & Co. | 07/31/13 | 66,441 | ||||||||
U.S. Dollar | 3,693,760 | Euro | 2,975,000 | JPMorgan Chase & Co. | 07/31/13 | (226,734 | ) |
127 |
|
Old Westbury Funds, Inc. | |
Notes To Financial Statements - (Continued) | |
April 30, 2013 (Unaudited) | |
Unrealized | ||||||||||||||
Settlement | Appreciation/ | |||||||||||||
Currency Purchased | Currency Sold | Counterparty | Date | (Depreciation) | ||||||||||
U.S. Dollar | 1,963,902 | Euro | 1,606,300 | JPMorgan Chase & Co. | 08/06/13 | $ | (153,003 | ) | ||||||
U.S. Dollar | 1,977,428 | Euro | 1,584,300 | JPMorgan Chase & Co. | 08/09/13 | (110,535 | ) | |||||||
U.S. Dollar | 2,003,668 | Euro | 1,612,000 | JPMorgan Chase & Co. | 08/20/13 | (120,989 | ) | |||||||
U.S. Dollar | 932,100 | Japanese Yen | 73,573,000 | JPMorgan Chase & Co. | 08/20/13 | 176,866 | ||||||||
U.S. Dollar | 1,856,818 | Japanese Yen | 146,373,000 | JPMorgan Chase & Co. | 08/26/13 | 354,213 | ||||||||
U.S. Dollar | 1,441,937 | Japanese Yen | 112,727,000 | JPMorgan Chase & Co. | 08/27/13 | 284,718 | ||||||||
U.S. Dollar | 928,779 | Euro | 737,287 | JPMorgan Chase & Co. | 08/29/13 | (43,054 | ) | |||||||
U.S. Dollar | 928,786 | Japanese Yen | 72,717,000 | JPMorgan Chase & Co. | 08/30/13 | 182,279 | ||||||||
U.S. Dollar | 153,510 | Euro | 119,000 | JPMorgan Chase & Co. | 09/13/13 | (3,365 | ) | |||||||
U.S. Dollar | 15,270,462 | Euro | 11,825,925 | JPMorgan Chase & Co. | 09/13/13 | (319,414 | ) | |||||||
Singapore Dollar | 1,300,000 | U.S. Dollar | 1,062,786 | JPMorgan Chase & Co. | 09/19/13 | (7,221 | ) | |||||||
Hungary Forint | 435,568,000 | Euro | 1,401,216 | JPMorgan Chase & Co. | 09/23/13 | 44,398 | ||||||||
Hungary Forint | 348,678,000 | Euro | 1,120,971 | JPMorgan Chase & Co. | 09/25/13 | 36,249 | ||||||||
U.S. Dollar | 406,818 | Japanese Yen | 31,505,000 | JPMorgan Chase & Co. | 09/30/13 | 83,309 | ||||||||
Philippines Peso | 14,127,000 | U.S. Dollar | 340,074 | JPMorgan Chase & Co. | 10/11/13 | 3,783 | ||||||||
Malaysian Ringgit | 6,600,000 | U.S. Dollar | 2,083,333 | JPMorgan Chase & Co. | 10/18/13 | 65,199 | ||||||||
Malaysian Ringgit | 1,459,000 | U.S. Dollar | 469,660 | JPMorgan Chase & Co. | 10/18/13 | 5,295 | ||||||||
U.S. Dollar | 6,795,203 | Japanese Yen | 598,110,000 | JPMorgan Chase & Co. | 10/18/13 | 652,630 | ||||||||
Singapore Dollar | 1,320,000 | U.S. Dollar | 1,066,667 | JPMorgan Chase & Co. | 10/21/13 | 5,170 | ||||||||
Hong Kong Dollar | 307,680,000 | U.S. Dollar | 40,000,000 | JPMorgan Chase & Co. | 10/28/13 | (318,504 | ) | |||||||
Hong Kong Dollar | 924,576,000 | U.S. Dollar | 120,000,000 | JPMorgan Chase & Co. | 10/28/13 | (757,415 | ) | |||||||
Malaysian Ringgit | 1,586,000 | U.S. Dollar | 512,224 | JPMorgan Chase & Co. | 10/31/13 | 3,710 | ||||||||
U.S. Dollar | 188,597 | Euro | 147,287 | JPMorgan Chase & Co. | 11/12/13 | (5,667 | ) | |||||||
U.S. Dollar | 4,289,375 | Japanese Yen | 338,110,000 | JPMorgan Chase & Co. | 11/13/13 | 816,100 | ||||||||
U.S. Dollar | 398,445 | Japanese Yen | 31,518,000 | JPMorgan Chase & Co. | 11/13/13 | 74,673 | ||||||||
U.S. Dollar | 231,051 | Euro | 180,987 | JPMorgan Chase & Co. | 11/20/13 | (7,681 | ) | |||||||
U.S. Dollar | 885,202 | Japanese Yen | 71,438,000 | JPMorgan Chase & Co. | 11/20/13 | 151,290 | ||||||||
U.S. Dollar | 746,640 | Euro | 572,000 | JPMorgan Chase & Co. | 12/13/13 | (8,021 | ) | |||||||
Malaysian Ringgit | 334,000 | U.S. Dollar | 108,848 | JPMorgan Chase & Co. | 01/16/14 | (561 | ) | |||||||
U.S. Dollar | 7,152,876 | Japanese Yen | 633,340,000 | JPMorgan Chase & Co. | 01/17/14 | 642,203 | ||||||||
Chilean Unidad de Fomento | 124,780,000 | U.S. Dollar | 253,618 | JPMorgan Chase & Co. | 01/30/14 | 2,033 | ||||||||
Malaysian Ringgit | 2,115,000 | U.S. Dollar | 680,940 | JPMorgan Chase & Co. | 01/30/14 | 4,309 | ||||||||
Malaysian Ringgit | 3,515,000 | U.S. Dollar | 1,116,405 | JPMorgan Chase & Co. | 02/04/14 | 22,118 | ||||||||
U.S. Dollar | 4,444,226 | Japanese Yen | 413,149,000 | JPMorgan Chase & Co. | 02/12/14 | 195,890 | ||||||||
U.S. Dollar | 2,962,819 | Japanese Yen | 274,200,000 | JPMorgan Chase & Co. | 02/13/14 | 143,239 | ||||||||
U.S. Dollar | 2,962,783 | Japanese Yen | 274,330,000 | JPMorgan Chase & Co. | 02/18/14 | 141,713 | ||||||||
U.S. Dollar | 416,438 | Japanese Yen | 38,760,000 | JPMorgan Chase & Co. | 02/18/14 | 17,850 | ||||||||
U.S. Dollar | 2,130,080 | Euro | 1,593,000 | JPMorgan Chase & Co. | 02/19/14 | 27,029 | ||||||||
U.S. Dollar | 2,127,945 | Euro | 1,593,000 | JPMorgan Chase & Co. | 02/19/14 | 24,895 | ||||||||
Chilean Unidad de Fomento | 91,400,000 | U.S. Dollar | 185,772 | JPMorgan Chase & Co. | 02/21/14 | 1,049 | ||||||||
Chilean Unidad de Fomento | 1,619,200,000 | U.S. Dollar | 3,284,714 | JPMorgan Chase & Co. | 02/24/14 | 23,860 | ||||||||
Chinese Yuan | 246,800,000 | U.S. Dollar | 40,000,000 | JPMorgan Chase & Co. | 02/24/14 | (378,879 | ) | |||||||
U.S. Dollar | 39,268,099 | Chinese Yuan | 246,800,000 | JPMorgan Chase & Co. | 02/24/14 | (353,022 | ) | |||||||
U.S. Dollar | 553,383 | Japanese Yen | 51,300,000 | JPMorgan Chase & Co. | 02/25/14 | 25,800 | ||||||||
Chilean Unidad de Fomento | 62,400,000 | U.S. Dollar | 126,150 | JPMorgan Chase & Co. | 02/28/14 | 1,300 | ||||||||
U.S. Dollar | 597,123 | Japanese Yen | 54,300,000 | JPMorgan Chase & Co. | 03/03/14 | 38,650 | ||||||||
Chinese Yuan | 123,100,000 | U.S. Dollar | 20,000,000 | JPMorgan Chase & Co. | 03/07/14 | (239,929 | ) |
128 |
|
Old Westbury Funds, Inc. | |
Notes To Financial Statements - (Continued) | |
April 30, 2013 (Unaudited) | |
Unrealized | ||||||||||||||
Settlement | Appreciation/ | |||||||||||||
Currency Purchased | Currency Sold | Counterparty | Date | (Depreciation) | ||||||||||
Chinese Yuan | 245,600,000 | U.S. Dollar | 40,000,000 | JPMorgan Chase & Co. | 03/10/14 | $ | (577,437 | ) | ||||||
U.S. Dollar | 39,083,386 | Chinese Yuan | 245,600,000 | JPMorgan Chase & Co. | 03/10/14 | (339,177 | ) | |||||||
Singapore Dollar | 2,807,550 | U.S. Dollar | 2,246,040 | JPMorgan Chase & Co. | 03/13/14 | 34,363 | ||||||||
Chinese Yuan | 125,200,000 | U.S. Dollar | 20,000,000 | JPMorgan Chase & Co. | 03/17/14 | 95,012 | ||||||||
U.S. Dollar | 19,608,457 | Chinese Yuan | 125,200,000 | JPMorgan Chase & Co. | 03/17/14 | (486,555 | ) | |||||||
Hungary Forint | 265,221,440 | Euro | 840,729 | JPMorgan Chase & Co. | 03/19/14 | 30,029 | ||||||||
Hungary Forint | 443,723,000 | Euro | 1,401,216 | JPMorgan Chase & Co. | 03/20/14 | 57,182 | ||||||||
Chilean Unidad de Fomento | 92,200,000 | U.S. Dollar | 186,451 | JPMorgan Chase & Co. | 03/21/14 | 1,443 | ||||||||
Hungary Forint | 441,341,000 | Euro | 1,401,216 | JPMorgan Chase & Co. | 03/21/14 | 46,822 | ||||||||
Chinese Yuan | 92,100,000 | U.S. Dollar | 15,000,000 | JPMorgan Chase & Co. | 04/14/14 | (222,076 | ) | |||||||
Chinese Yuan | 122,800,000 | U.S. Dollar | 20,000,000 | JPMorgan Chase & Co. | 04/21/14 | (297,578 | ) | |||||||
U.S. Dollar | 265,976 | Euro | 203,185 | JPMorgan Chase & Co. | 04/22/14 | (2,423 | ) | |||||||
Chilean Unidad de Fomento | 604,651,000 | U.S. Dollar | 1,217,214 | JPMorgan Chase & Co. | 04/28/14 | 10,033 | ||||||||
Hong Kong Dollar | 386,050,000 | U.S. Dollar | 50,000,000 | JPMorgan Chase & Co. | 09/22/14 | (174,657 | ) | |||||||
U.S. Dollar | 207,246 | Euro | 157,000 | Morgan Stanley | 05/07/13 | 476 | ||||||||
Chilean Unidad de Fomento | 101,400,000 | U.S. Dollar | 198,376 | Morgan Stanley | 05/13/13 | 16,493 | ||||||||
Polish Zloty | 4,031,000 | Euro | 895,579 | Morgan Stanley | 05/24/13 | 93,736 | ||||||||
U.S. Dollar | 853,110 | Euro | 686,000 | Morgan Stanley | 06/04/13 | (50,528 | ) | |||||||
Swedish Krona | 13,535,982 | Euro | 1,553,360 | Morgan Stanley | 07/16/13 | 38,111 | ||||||||
Swedish Krona | 3,168,850 | Euro | 363,650 | Morgan Stanley | 07/16/13 | 8,922 | ||||||||
Swedish Krona | 19,932,831 | Euro | 2,309,741 | Morgan Stanley | 07/22/13 | 26,188 | ||||||||
Chilean Unidad de Fomento | 170,020,000 | U.S. Dollar | 352,629 | Morgan Stanley | 08/01/13 | 3,604 | ||||||||
Singapore Dollar | 5,152,240 | U.S. Dollar | 4,141,672 | Morgan Stanley | 08/01/13 | 41,641 | ||||||||
Australian Dollar | 4,488,527 | U.S. Dollar | 4,590,012 | Morgan Stanley | 08/09/13 | 28,325 | ||||||||
U.S. Dollar | 513,533 | Euro | 403,000 | Morgan Stanley | 08/15/13 | (17,610 | ) | |||||||
Chilean Unidad de Fomento | 84,970,000 | U.S. Dollar | 175,395 | Morgan Stanley | 08/22/13 | 2,177 | ||||||||
U.S. Dollar | 10,231,678 | Japanese Yen | 807,305,000 | Morgan Stanley | 11/13/13 | 1,938,542 | ||||||||
U.S. Dollar | 514,158 | Euro | 403,000 | Morgan Stanley | 11/15/13 | (17,396 | ) | |||||||
U.S. Dollar | 730,674 | Japanese Yen | 57,800,000 | Morgan Stanley | 11/15/13 | 136,904 | ||||||||
Chilean Unidad de Fomento | 198,700,000 | U.S. Dollar | 403,739 | Morgan Stanley | 01/13/14 | 4,158 | ||||||||
Chilean Unidad de Fomento | 224,290,000 | U.S. Dollar | 453,707 | Morgan Stanley | 02/14/14 | 5,084 | ||||||||
Chilean Unidad de Fomento | 110,250,000 | U.S. Dollar | 223,020 | Morgan Stanley | 02/24/14 | 2,258 | ||||||||
Chilean Unidad de Fomento | 234,800,000 | U.S. Dollar | 474,679 | Morgan Stanley | 02/26/14 | 4,994 | ||||||||
Chilean Unidad de Fomento | 99,000,000 | U.S. Dollar | 200,000 | Morgan Stanley | 03/10/14 | 1,988 | ||||||||
U.S. Dollar | 1,066,308 | Euro | 816,000 | Morgan Stanley | 03/10/14 | (11,156 | ) | |||||||
U.S. Dollar | 2,078,085 | Japanese Yen | 198,800,000 | Morgan Stanley | 03/19/14 | 33,080 | ||||||||
Chilean Unidad de Fomento | 1,065,040,000 | U.S. Dollar | 2,177,328 | Morgan Stanley | 04/14/14 | (12,434 | ) | |||||||
Chilean Unidad de Fomento | 954,280,000 | U.S. Dollar | 1,937,428 | Morgan Stanley | 04/21/14 | 883 | ||||||||
Norwegian Krone | 7,600,000 | U.S. Dollar | 1,381,341 | UBS AG | 05/02/13 | (63,488 | ) |
129 |
|
Old Westbury Funds, Inc. | |
Notes To Financial Statements - (Continued) | |
April 30, 2013 (Unaudited) | |
Unrealized | ||||||||||||||
Settlement | Appreciation/ | |||||||||||||
Currency Purchased | Currency Sold | Counterparty | Date | (Depreciation) | ||||||||||
U.S. Dollar | 1,287,416 | Norwegian Krone | 7,600,000 | UBS AG | 05/02/13 | $ | (30,438 | ) | ||||||
U.S. Dollar | 15,000,001 | Euro | 10,963,630 | UBS AG | 05/06/13 | 560,873 | ||||||||
U.S. Dollar | 17,217,033 | Japanese Yen | 1,605,540,000 | UBS AG | 05/07/13 | 746,849 | ||||||||
U.S. Dollar | 101,808 | Euro | 78,000 | UBS AG | 05/10/13 | (921 | ) | |||||||
U.S. Dollar | 632,569 | Japanese Yen | 50,022,000 | UBS AG | 05/13/13 | 119,411 | ||||||||
Norwegian Krone | 167,925,000 | U.S. Dollar | 30,405,773 | UBS AG | 05/14/13 | (1,301,085 | ) | |||||||
Australian Dollar | 663,000 | U.S. Dollar | 674,536 | UBS AG | 05/20/13 | 11,691 | ||||||||
U.S. Dollar | 20,000,001 | United Kingdom Pound | 12,974,880 | UBS AG | 05/21/13 | (151,565 | ) | |||||||
United Kingdom Pound | 6,487,440 | U.S. Dollar | 9,843,393 | UBS AG | 05/21/13 | 232,390 | ||||||||
U.S. Dollar | 15,000,000 | United Kingdom Pound | 9,814,313 | UBS AG | 05/22/13 | (242,714 | ) | |||||||
Norwegian Krone | 13,058,000 | Euro | 1,763,999 | UBS AG | 05/23/13 | (61,048 | ) | |||||||
Australian Dollar | 14,482,749 | U.S. Dollar | 14,817,300 | UBS AG | 05/28/13 | 163,183 | ||||||||
U.S. Dollar | 19,976,913 | Australian Dollar | 19,288,879 | UBS AG | 05/28/13 | 25,126 | ||||||||
U.S. Dollar | 13,193,824 | Japanese Yen | 1,229,499,500 | UBS AG | 05/28/13 | 579,875 | ||||||||
Norwegian Krone | 4,080,000 | Euro | 549,828 | UBS AG | 06/03/13 | (17,667 | ) | |||||||
U.S. Dollar | 20,363,236 | South African Rand | 185,000,000 | UBS AG | 06/04/13 | (153,262 | ) | |||||||
Swedish Krona | 66,042,000 | U.S. Dollar | 10,393,562 | UBS AG | 06/11/13 | (213,246 | ) | |||||||
U.S. Dollar | 8,487,167 | Japanese Yen | 815,812,000 | UBS AG | 06/14/13 | 116,628 | ||||||||
Malaysian Ringgit | 171,210,010 | U.S. Dollar | 54,733,783 | UBS AG | 06/17/13 | 1,393,654 | ||||||||
Swedish Krona | 20,866,000 | Euro | 2,330,251 | UBS AG | 06/28/13 | 145,201 | ||||||||
U.S. Dollar | 2,317,680 | Euro | 1,850,000 | UBS AG | 06/28/13 | (119,653 | ) | |||||||
U.S. Dollar | 10,000,000 | Japanese Yen | 988,610,000 | UBS AG | 07/10/13 | (145,103 | ) | |||||||
Russian Ruble | 148,800,000 | U.S. Dollar | 4,752,475 | UBS AG | 07/12/13 | (33,740 | ) | |||||||
U.S. Dollar | 22,357,158 | Euro | 17,027,927 | UBS AG | 07/15/13 | (79,680 | ) | |||||||
Swedish Krona | 15,299,180 | Euro | 1,756,407 | UBS AG | 07/16/13 | 42,145 | ||||||||
Swedish Krona | 15,274,510 | Euro | 1,753,635 | UBS AG | 07/16/13 | 41,998 | ||||||||
U.S. Dollar | 30,122,057 | Euro | 23,100,000 | UBS AG | 07/19/13 | (316,576 | ) | |||||||
U.S. Dollar | 19,743,469 | Chinese Yuan | 126,220,000 | UBS AG | 07/29/13 | (563,827 | ) | |||||||
U.S. Dollar | 3,662,861 | Euro | 2,976,000 | UBS AG | 08/01/13 | (258,983 | ) | |||||||
U.S. Dollar | 10,000,000 | Japanese Yen | 978,265,000 | UBS AG | 08/01/13 | (40,454 | ) | |||||||
U.S. Dollar | 1,880,485 | Japanese Yen | 148,060,000 | UBS AG | 08/20/13 | 360,635 | ||||||||
Norwegian Krone | 10,525,000 | Euro | 1,411,009 | UBS AG | 08/23/13 | (42,532 | ) | |||||||
Norwegian Krone | 10,525,000 | Euro | 1,411,047 | UBS AG | 08/23/13 | (42,582 | ) | |||||||
U.S. Dollar | 2,096,498 | Euro | 1,675,590 | UBS AG | 08/26/13 | (112,078 | ) | |||||||
U.S. Dollar | 2,109,887 | Japanese Yen | 166,449,000 | UBS AG | 08/26/13 | 401,189 | ||||||||
U.S. Dollar | 764,488 | Euro | 590,886 | UBS AG | 09/17/13 | (14,490 | ) | |||||||
Norwegian Krone | 4,194,700 | Euro | 562,632 | UBS AG | 11/08/13 | (19,669 | ) | |||||||
U.S. Dollar | 403,772 | Japanese Yen | 31,954,500 | UBS AG | 11/15/13 | 75,508 | ||||||||
U.S. Dollar | 706,742 | Japanese Yen | 57,068,000 | UBS AG | 11/20/13 | 120,459 | ||||||||
U.S. Dollar | 519,212 | Euro | 395,500 | UBS AG | 12/09/13 | (2,566 | ) | |||||||
U.S. Dollar | 2,280,240 | Euro | 1,741,000 | UBS AG | 01/13/14 | (17,394 | ) | |||||||
U.S. Dollar | 600,603 | Japanese Yen | 52,560,000 | UBS AG | 01/14/14 | 60,309 | ||||||||
U.S. Dollar | 300,979 | Japanese Yen | 26,280,000 | UBS AG | 01/14/14 | 30,832 | ||||||||
U.S. Dollar | 803,539 | Japanese Yen | 71,290,000 | UBS AG | 01/16/14 | 70,693 | ||||||||
U.S. Dollar | 638,585 | Japanese Yen | 56,700,000 | UBS AG | 01/16/14 | 55,721 | ||||||||
U.S. Dollar | 1,839,492 | Japanese Yen | 162,280,000 | UBS AG | 01/27/14 | 171,088 | ||||||||
U.S. Dollar | 2,947,484 | Euro | 2,177,000 | UBS AG | 02/10/14 | 73,693 |
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April 30, 2013 (Unaudited) | |
Unrealized | ||||||||||||||
Settlement | Appreciation/ | |||||||||||||
Currency Purchased | Currency Sold | Counterparty | Date | (Depreciation) | ||||||||||
U.S. Dollar | 2,447,872 | Euro | 1,825,000 | UBS AG | 02/13/14 | $ | 38,677 | |||||||
U.S. Dollar | 659,197 | Japanese Yen | 60,600,000 | UBS AG | 03/04/14 | 35,922 | ||||||||
U.S. Dollar | 14,251,671 | Chinese Yuan | 92,100,000 | UBS AG | 04/14/14 | (526,252 | ) | |||||||
$ | 9,832,174 |
C. Swap Agreements. The Funds entered into swap agreements, which are agreements involving two parties to exchange the return generated by a security, currency, commodity, interest rate, index, or other measures for the return generated by another instrument, for example, the agreement to pay interest in exchange for a market-linked return based on a notional amount. The Funds entered into total return, interest rate and other swap agreements. Interest rate swap agreements generally involve the agreement by the Funds to pay a counterparty a fixed or floating rate on a fixed notional amount and to receive a fixed or floating rate on a fixed notional amount, but may also involve the agreement to pay or receive payments derived from changes in interest rates. Periodic payments are generally made during the life of the swap agreement according to the terms and conditions of the agreement and at termination or maturity. Total return swap agreements involve the commitments to pay or receive an amount generally determined by reference to a security, index or other measure in exchange for a specific market linked return, based on notional amounts. To the extent that the total return of the security, index or other measure underlying the transaction exceeds or falls short of the offsetting interest rate-based obligation, the Funds receive or make a payment to the counterparty. Payments received or made by a Fund at the expiration or other termination of the swap agreements are recorded in the Statements of Operations as realized gains or losses, respectively. Swap agreements are marked-to-market daily based on dealer-supplied valuations, and changes in value, including the periodic amounts of interest to be paid or received on swaps, are recorded as unrealized appreciation/(depreciation). Risks may exceed amounts recognized on the Statements of Assets and Liabilities. These risks include changes in the returns of the underlying instruments, failure of the counterparties to perform under the contracts’ terms and the possible lack of liquidity with respect to the swap agreements. Details of swap agreements open at period end are included in the Portfolios of Investments under the caption “Swap Agreements”.
D. Options . The Funds purchased and wrote (sold) put and call options on equity securities and stock index futures in order to gain exposure to or to protect against changes in the market.
Options on swaps (swaptions) are similar to options on securities except that instead of selling or purchasing the right to buy or sell a security, the writer or purchaser of the swaption is granting or buying the right to enter into a previously agreed upon swap agreement at any time before the expiration of the option.
A call option gives the purchaser of the option the right (but not the obligation) to buy, and obligates the seller to sell (when the option is exercised), the underlying instrument at the exercise price at any time or at a specified time during the option period. A put option gives the holder the right to sell and obligates the writer to buy the underlying instrument at the exercise price at any time or at a specified time during the option period. When a Fund purchases (writes) an option, an amount equal to the premium paid (received) by a Fund is reflected as an asset (liability). The amount of the asset (liability) is subsequently marked-to-market to reflect the current market value of the option purchased (written). When an instrument is purchased or sold through an exercise of an option, the related premium paid (or received) is added to (or deducted from) the basis of the instrument acquired or deducted from (or added to) the proceeds of the instrument sold. When an option expires (or a Fund enters into a closing transaction), a Fund realizes a gain or loss on the option to the extent of the premiums received or paid (or gain or loss to the extent the cost of the closing transaction exceeds the premium received or paid). When a Fund writes a call option, such option is “covered,” meaning that a Fund holds the underlying instrument subject to being called by the option counterparty, or cash in an amount sufficient to cover the obligation. When a Fund writes a put option, such option is covered by cash in an amount sufficient to cover the obligation.
In purchasing and writing options, a Fund bears certain risks, including the market risk of an unfavorable change in the price of the underlying instrument or the risk that a Fund may not be able to enter into a closing transaction due to an illiquid market. Exercise of a written option could result in a Fund purchasing or selling a security at a price different from the current market value.
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Notes To Financial Statements - (Continued) | |
April 30, 2013 (Unaudited) | |
A Fund may execute transactions in both listed and over-the-counter options. Listed options involve minimal counterparty risk since listed options are guaranteed against default by the exchange on which they trade. Transactions in certain over-the-counter options may expose a Fund to the risk of default by the counterparty to the transaction. In the event of default by the counterparty to the over-the-counter option transaction, a Fund’s maximum amount of loss is the premium paid (as purchaser) or the unrealized gain of the contract (as writer).
A summary of the Global Opportunities Fund written option transactions for the year is as follows:
Number of
Options Contracts |
Premiums
Received |
||||||
Contracts outstanding at October 31, 2012 | 177,040 | $ | 108,897,117 | ||||
Options written | 242,093 | 111,307,269 | |||||
Options terminated in closing purchase transactions | (95,446 | ) | (66,254,329 | ) | |||
Options exercised | (69,065 | ) | (32,631,162 | ) | |||
Options expired | (7,965 | ) | (6,616,531 | ) | |||
Contracts outstanding at April 30, 2013 | 246,657 | $ | 114,702,364 |
A summary of the Real Return Fund written option transactions for the year is as follows:
Number of
Options Contracts |
Premiums
Received |
||||||
Contracts outstanding at October 31, 2012 | 13,640 | $ | 16,989,165 | ||||
Options written | 18,235 | 64,918,975 | |||||
Options terminated in closing purchase transactions | (20,175 | ) | (64,565,440 | ) | |||
Options exercised | — | — | |||||
Options expired | (6,900 | ) | (2,266,650 | ) | |||
Contracts outstanding at April 30, 2013 | 4,800 | $ | 15,076,050 |
The Global Opportunities Fund invests in structured options to increase or decrease its exposure to an underlying index or group of securities (equity risk). These structured options may consist of single or multiple OTC options which are priced as a single security. Structured options may only be exercised at the expiration date, but may be transferred/sold prior to the expiration date. The value of a structured option may either increase or decrease with the underlying index or group of securities, depending on the combination of options used. Structured options are issued in units whereby each unit represents a structure based on a specific index with an initial reference strike price. One type of structure involves the combination of selling a put while buying a call on a specific index. This option would rise in value as the underlying index increases and fall in value as the underlying index decreases. Alternatively, another structure involves the sale of a call and the purchase of a put. This option structure would rise in value as the underlying index decreases and fall in value as the underlying index increases. Upon the exercise of the structured option, the Fund will receive a payment from, or be required to remit a payment to the counterparty, depending on the value of the underlying index at exercise.
7. | Investment Advisory Fee, Administration Fee and Other Transactions: |
A. Investment Advisory Fees . The Funds’ investment adviser is BIM, a wholly-owned subsidiary of Bessemer Trust Company, N.A. (“Bessemer”). Bessemer is a subsidiary of The Bessemer Group, Incorporated (“BGI”). The investment advisory fee paid to BIM for advisory services is computed daily and paid monthly in accordance with the following schedule:
First $500 million of
average net assets |
Next $500 million
to $1 billion of average net assets |
Average net assets
exceeding $1 billion |
||||
Large Cap Core Fund | 0.70% | 0.65% | 0.60% | |||
Fixed Income Fund | 0.45% | 0.40% | 0.35% | |||
Municipal Bond Fund | 0.45% | 0.40% | 0.35% |
Average net assets | |
Global Small & Mid Cap Fund | 0.85% |
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Notes To Financial Statements - (Continued) | |
April 30, 2013 (Unaudited) | |
Average net assets | |
Real Return Fund | 0.85% |
First
$1.25 billion of
average net assets |
Next
$1.25 billion
to $2.5 billion of average net assets |
Average
net assets
exceeding $2.5 billion |
||||
Large Cap Strategies Fund | 0.90 % | 0.85 % | 0.80 % | |||
Global Opportunities Fund | 1.10 % | 1.05 % | 1.00 % |
BIM has retained Oldfield Partners LLP (“Oldfield”) and Sands Capital Management, LLC (“Sands”) as sub-advisers to each manage a segment of the Large Cap Strategies Fund. Oldfield and Sands are paid for their services directly by BIM.
BIM has retained Dimensional Fund Advisors LP (“Dimensional”), Champlain Investment Partners, LLC (“Champlain”) and Mondrian Investment Partners Limited (“Mondrian”) as sub-advisers to each manage segments of the Global Small & Mid Cap Fund. Dimensional, Champlain and Mondrian are paid for their services directly by BIM.
BIM has retained Franklin Advisers, Inc. (“Franklin”), Shenkman Capital Management, Inc. (“SCM”) and BlackRock Financial Management, Inc. (“BlackRock”) as sub-advisers to each manage a segment of the Global Opportunities Fund. Franklin, SCM and BlackRock are paid for their services directly by BIM.
B. Administration, Fund Accounting, Transfer Agent and Underwriting Fees. The Corporation, on behalf of each Fund, has entered into an administrative oversight, supervision and coordination services agreement (the “Administrative Agreement”) with Bessemer, pursuant to which Bessemer and Bessemer Trust Company (“BTCO”), an affiliate of BIM, provide certain non-advisory services to the Funds, such as the maintenance of records, the provision of supervisory personnel and the monitoring of the other non-advisory service providers. Under the Administrative Agreement, each Fund pays an annual fee of 0.03% of its average daily net assets for such services. BNY Mellon Investment Servicing (US) Inc. (“BNY Mellon”) acts as administrator, fund accounting agent and transfer agent for the Funds pursuant to an Administration and Accounting Services Agreement and a Transfer Agency Services Agreement, respectively. Certain officers of the Funds are also employees of BNY Mellon.
The Corporation entered into an Underwriting Agreement with Foreside Funds Distributors LLC for the limited purpose of acting as statutory underwriter to facilitate the registration and distribution of shares of the Funds.
C. Distribution and Shareholder Servicing Fees. The Funds have adopted a shareholder servicing plan (the “Shareholder Servicing Plan”) with Bessemer, pursuant to which Bessemer serves as a shareholder servicing agent and provides certain shareholder support services. Bessemer may engage shareholder sub-servicing agents, such as broker/dealers, banks, trust companies, investment advisers, and other financial institutions and intermediaries to provide certain shareholder support services and is solely responsible for paying each such shareholder sub-servicing agent from the fee it receives from each of the Funds. Each Fund pays for shareholder support services an annual fee of 0.20% of its average daily net assets; however, with respect to the Fixed Income Fund and the Municipal Bond Fund, Bessemer has contractually committed to waive its shareholder servicing fee to the extent necessary to maintain a maximum shareholder servicing fee at 0.10% through October 31, 2014. The shareholder servicing fee commitment arrangements may be changed or terminated at any time with the approval of the Board. For the six months ended April 30, 2013, Bessemer waived shareholder servicing fees in the amount of $247,248 with respect to the Fixed Income Fund and $569,238 with respect to the Municipal Bond Fund.
D. Custody Fees. The Large Cap Core Fund, Large Cap Strategies Fund, Fixed Income Fund and Municipal Bond Fund have each retained BTCO, a wholly-owned subsidiary of BGI, to serve as their custodian and the Real Return Fund, the Subsidiary and the Global Small & Mid Cap Fund have retained BTCO to serve as their co-custodian. Pursuant to the Funds’ Custody Agreements, BTCO is responsible for maintaining the custody of these Funds securities and cash, except for the Real Return Fund and the Subsidiary for which BTCO is only responsible for the collectible coins or bullions or other forms of precious metals held by the Real Return Fund and the Subsidiary. BTCO serves as custodian for the Global Small & Mid Cap Fund only with respect to equity securities of U.S. companies (other than exchange-traded funds) and securities in the form of depositary receipts directly managed by BIM, income, other payments and distributions issued with respect to such securities, proceeds of the sale of such securities, and cash, cash equivalents and money market instruments received and held by BTCO from time to time on behalf of the Global Small & Mid Cap Fund. For providing these services, BTCO receives a fee calculated and paid monthly at the annual rate of 0.075% of the average daily net assets of the non-U.S. investments and 0.015% of the average daily net assets of the U.S. investments of Large Cap Strategies Fund and 0.015% of the average daily net assets of each of the Large Cap Core Fund, Fixed Income Fund and Municipal Bond Fund or portion thereof for the Global Small & Mid Cap Fund. BTCO receives a fee of 0.10% of the average daily net assets of the portion of the Real Return Fund for which BTCO serves
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Notes To Financial Statements - (Continued) | |
April 30, 2013 (Unaudited) | |
as custodian. In addition, BTCO receives from the Real Return Fund and the Subsidiary any transaction costs, such as charges for moving them to auctions and shipping/vault charges, related to the Real Return Fund’s and the Subsidiary’s investments in collectible coins or bullions or other forms of precious metals. The Global Opportunities Fund has retained Citibank, N.A. (“Citibank”) to serve as its custodian and the Global Small & Mid Cap Fund, Real Return Fund and the Subsidiary have retained Citibank to serve as their co-custodian. Citibank is responsible for maintaining the custody of these Funds’ securities and cash, excluding collectible coins or bullions or other forms of precious metals held by the Real Return Fund and the Subsidiary, and assets of the Global Small & Mid Cap Fund managed by the sub-advisers. For providing these services, Citibank receives a fee from each Fund calculated daily and paid monthly based on safekeeping and transaction fees that vary by country.
E. Fee Waivers. BIM may voluntarily waive a portion of its advisory fee to limit the Funds’ total expenses. BIM may terminate this voluntary waiver at any time. BIM, however, does not have the ability to recapture fees currently being waived at a later date. BIM has contractually committed through October 31, 2014 to waive its advisory fees to the extent necessary to maintain the net operating expense ratios, excluding fund transaction costs, investment interest expense, dividend expenses associated with securities sold short and acquired fund fees and expenses, if any, of the Large Cap Core Fund at 1.00%, the Large Cap Strategies Fund at 1.15% the Global Small & Mid Cap Fund at 1.11%, the Global Opportunities Fund at 1.20%, the Real Return Fund at 1.10%, the Fixed Income Fund at 0.70% and the Municipal Bond Fund at 0.70%. Any waiver amounts are disclosed in the Statements of Operations. For the six months ended April 30, 2013, BIM waived $97,723 for the Large Cap Core Fund, $60,606 for the Large Cap Strategies Fund, $1,185,681 for the Global Small & Mid Cap Fund, $4,198,811 for the Global Opportunities Fund and $500,227 for the Real Return Fund. The Fixed Income Fund and Municipal Bond Fund had shareholder servicing fee waivers of $247,248, and $569,238, respectively. The contractual advisory fee waivers and the shareholder servicing fee waivers may be changed or terminated at any time with the approval of the Board.
F. Board of Directors’ Fees. Each Director who is not an “interested person” of the Corporation (as that term is defined under the 1940 Act) (each, an “Independent Director”) receives from the Funds a total annual retainer of $95,000 (plus $50,000 for serving as the Board’s Chairperson, $10,000 as the Board’s Vice Chairperson, $20,000 as the Audit Committee Chairperson, $15,000 as a member of the Pricing Committee, $10,000 as the Risk Management Liaison and $10,000 each as the Nominating Committee Chairperson and the Governance Committee Chairperson) and receives for attendance at Board and committee meetings the following:
Noticed
to be
In-Person (whether participating by phone or in-person) |
Noticed
to be
telephonic |
||||||||||
Regular Board Meeting | $ | 9,000 | $ | 4,500 | |||||||
Special Board Meeting | 6,000 | 3,000 | |||||||||
Audit Committee Meeting | 5,000 | 2,500 | |||||||||
Nominating Committee Meeting | 5,000 | 2,500 | |||||||||
Governance Committee Meeting | 5,000 | 2,500 |
Each Independent Director is reimbursed for all out-of-pocket expenses relating to attendance at meetings of the Board and any Board committee. Directors who are not Independent Directors, officers or employees of BIM and BNY Mellon do not receive compensation from the Funds. Fees paid are allocated to the Funds on a pro rata basis based on net assets.
G. Interest Expense. When cash balances are overdrawn, the Funds are charged by BTCO an overdraft fee equal to 2.25% above the federal funds rate on outstanding balances. Citibank, N.A. charges 2.00% above the London InterBank Offered Rate for any overdrawn cash balances. These amounts, if any, are included in “interest expense” in the Statements of Operations when such expenses are incurred.
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Notes To Financial Statements - (Continued) | |
April 30, 2013 (Unaudited) | |
8. | Securities Transactions: |
Investment transactions for the six months ended April 30, 2013, excluding short-term investments and U.S. Government securities, were as follows:
Purchases | Sales | |||||||
Large Cap Core Fund | $ | 253,677,344 | $ | 198,069,638 | ||||
Large Cap Strategies Fund | 2,567,966,735 | 923,418,230 | ||||||
Global Small & Mid Cap Fund | 587,872,794 | 863,859,207 | ||||||
Global Opportunities Fund | 9,761,970,268 | 2,348,703,397 | ||||||
Real Return Fund (Consolidated) | 417,534,112 | 708,546,797 | ||||||
Fixed Income Fund | 111,262,813 | 59,688,166 | ||||||
Municipal Bond Fund | 353,672,969 | 230,671,314 |
Purchase and sales of U. S. Government Securities, excluding those with maturity of one year or less during the six months ended April 30, 2013, were as follows:
Purchases | Sales | |||||||
Real Return Fund (Consolidated) | $ | — | $ | 310,289,382 | ||||
Fixed Income Fund | 149,069,794 | 205,307,864 |
9. | Federal Income Taxes: |
It is the policy of each Fund to qualify as a regulated investment company by complying with the provisions available to certain investment companies as defined in Subchapter M of the Internal Revenue Code of 1986, as amended (the “Code”), and to make distributions from net investment income and net realized capital gains sufficient to relieve it from all, or substantially all, federal income taxes. Federal income tax regulations differ from accounting principles generally accepted in the U.S.; therefore, distributions determined in accordance with tax regulations may differ in amount or character from net investment income and realized gains for financial reporting purposes.
By investing in the Subsidiary, the Real Return Fund will gain exposure to commodities and commodity-linked instruments within the limits of Subchapter M of the Code. Subchapter M requires, among other things, that a fund derive at least 90% of gross income from dividends, interest, and gains from the sale of securities (typically referred to as “qualifying income”). The IRS has issued a private letter ruling to the Real Return Fund confirming that Subpart F income derived from its investment in the Subsidiary, which invests in commodities and commodity-linked instruments, will constitute “qualifying income” under Subchapter M of the Code. Based on such ruling, the Real Return Fund will seek to get exposure to commodities and commodity-linked instruments through investments in the Subsidiary.
The Funds may be subject to taxes imposed by other countries in which they invest. Such taxes are generally based on income earned as well as capital gains realized. These taxes are accrued and applied to net investment income, net realized gains and net unrealized appreciation, as applicable, as such income and/or gains are earned.
In addition to the requirements of the Code, the Funds may also be subject to capital gains tax in India and Thailand on gains realized upon the sale of India and Thailand securities, payable upon repatriation of sales proceeds. The Funds may accrue a deferred tax liability for unrealized gains on India and Thailand securities based on existing tax rates and holding periods of the securities. As of April 30, 2013, the Large Cap Strategies Fund, the Global Small & Mid Cap Fund and the Global Opportunities Fund recorded liabilities of $245,124, $57,836 and $821,583, respectively, in the Statements of Assets and Liabilities as an estimate for potential future India and Thailand capital gain taxes.
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Notes To Financial Statements - (Continued) | |
April 30, 2013 (Unaudited) | |
The tax character of distributions from the Funds during the year ended October 31, 2012 was as follows (amounts in thousands):
Large Cap
Core Fund |
Large Cap Strategies
Fund |
Global
Small & Mid Cap Fund |
Global
Opportunities Fund |
Real
Return Fund |
Fixed
Income Fund |
Municipal
Bond Fund |
||||||||||||||||||||||||||||||
Distributions paid from: | ||||||||||||||||||||||||||||||||||||
Ordinary Income | $ | 1,799 | $ | 39,493 | $ | 31,191 | $ | 219,142 | $ | 6,986 | $ | 11,786 | $ | 10 | ||||||||||||||||||||||
Net Long Term Capital Gains | — | — | 218,243 | — | — | 9,169 | 2,446 | |||||||||||||||||||||||||||||
Total Taxable Distributions | 1,799 | 39,493 | 249,434 | 219,142 | 6,986 | 20,955 | 2,456 | |||||||||||||||||||||||||||||
Tax Exempt Distributions | — | — | — | — | — | — | 15,853 | |||||||||||||||||||||||||||||
Total Distributions Paid | $ | 1,799 | $ | 39,493 | $ | 249,434 | $ | 219,142 | $ | 6,986 | $ | 20,955 | $ | 18,309 |
The difference in classification between the amounts reflected above and the Statements of Changes in Net Assets is primarily due to short-term capital gain distributions.
As of and during the period ended April 30, 2013, the Funds did not have any liabilities for any uncertain tax positions. The Funds recognize interest and penalties, if any, related to unrecognized tax positions as income tax expense in the Statements of Operations. During the period, the Funds did not incur any interest or penalties. The statute of limitation on each Fund’s U.S. federal income tax returns remains open for each of the four years ended October 31, 2013. The statutes of limitations on each Fund’s state and local tax returns may remain open for an additional year depending upon the jurisdiction.
At October 31, 2012, the following Funds had capital loss carryforwards for federal income tax purposes, which will expire on the following date:
October 31,
2017 |
||||
Large Cap Core Fund | $ | 56,108,735 | ||
Large Cap Strategies Fund | 387,157,678 | |||
Global Opportunities Fund | 201,818,046 | |||
Real Return Fund* | 245,786,188 |
The capital loss carryforward will reduce the applicable Fund’s taxable income arising from future net realized gains on investments, if any, to the extent permitted by the Code, and thus will reduce the amount of the distributions to shareholders which would otherwise be necessary to relieve the Funds of any liability for federal tax.
* As of October 31, 2012, the Real Return Fund had a short-term and long-term capital loss carryforward of $40,756,011 and $81,990,660, respectively, available to offset future realized capital gains in accordance with the Regulated Investment Company Modernization Act of 2010. These capital loss carryforwards are not subject to expiration and must first be utilized to offset future realized gains of the same character and must be utilized prior to the utilization of the loss carryforwards subject to expiration that are described above.
10. | Commitments: |
Global Opportunities Fund may invest in floating rate loan interests. In connection with these investments, Global Opportunities Fund may also enter into bridge loan commitments (“commitments”). Bridge loan commitments may obligate Global Opportunities Fund to furnish temporary financing to a borrower until permanent financing can be arranged. As of April 30, 2013, Global Opportunities Fund had outstanding bridge loan commitments of $5,706,875. In connection with these commitments, Global Opportunities Fund earns a commitment fee, typically set as a percentage of the commitment amount. Such fee income, which is included in interest income in the Statements of Operations, is recognized ratably over the commitment period.
136 |
|
Old Westbury Funds, Inc. | |
Notes To Financial Statements - (Continued) | |
April 30, 2013 (Unaudited) | |
11. | Subsequent Events: |
Management has evaluated the impact of all subsequent events on the Funds and has determined that there were no subsequent events requiring recognition.
In June 2013, the Financial Accounting Standards Board (the “FASB”) issued guidance that creates a two-tiered approach to assess whether an entity is an investment company. The guidance will also require an investment company to measure noncontrolling ownership interests in other investment companies at fair value and will require additional disclosures relating to investment company status, any changes thereto and information about financial support provided or contractually required to be provided to any of the investment company’s investees. The guidance is effective for financial statements with fiscal years beginning on or after December 15, 2013 and interim periods within those fiscal years. Management is evaluating the impact of this guidance on the Funds’ financial statement disclosures.
137 |
|
Additional Information (unaudited) | |
Information on Proxy Voting:
The Funds’ proxy voting guidelines, used to determine how to vote proxies relating to portfolio securities and information regarding how the Funds voted proxies relating to portfolio securities during the most recent 12-month period ended June 30 is available (i) without charge, upon request, by calling (800) 607-2200; and (ii) on the SEC’s website at http://www.sec.gov.
Information on Form N-Q:
The Funds provide a complete list of the Funds’ holdings four times in each fiscal year, at the quarter-ends. For the second and fourth quarters, the Schedule of Investments appear in the Funds semi-annual and annual reports to shareholders. For the first and third quarters, the Funds file the Schedule of Investments with the SEC on Form N-Q. Shareholders can obtain the Funds’ Form N-Q (i) without charge, upon request, by calling (800) 607-2200; and (ii) on the SEC’s website at http://www.sec.gov. The Fund’s N-Q may be reviewed or copied at the SEC Public Reference Room in Washington D.C. Information on the operation of the Public Reference Room may be obtained by calling (800) SEC-0330.
138 |
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Investment Adviser:
Bessemer Investment Management LLC
630 Fifth Avenue
New York, NY 10111
(212) 708-9100
Distributor:
Foreside Funds Distributors LLC
400 Berwyn Park
899 Cassatt Road
Berwyn, PA 19312
Custodians:
Bessemer Trust Company
100 Woodbridge Center Drive
Woodbridge, NJ 07095
Citibank, N.A.
111 Wall Street
New York, NY 10005
Administrator:
BNY Mellon Investment Servicing (US) Inc.
760 Moore Road
King of Prussia, PA 19406
Transfer Agent:
BNY Mellon Investment Servicing (US) Inc.
760 Moore Road
King of Prussia, PA 19406
Independent Registered Public Accounting Firm:
Ernst & Young LLP
5 Times Square
New York, NY 10036
Mutual funds are not bank deposits or obligations, are not guaranteed by any bank, and are not insured or guaranteed by the U.S. government, the Federal Deposit Insurance Corporation, the Federal Reserve Board, or any other government agency. Investment in mutual funds involves investment risks, including possible loss of principal.
This report is authorized for distribution to prospective investors only when preceded or accompanied by the Funds’ prospectus which contains facts concerning the Funds’ objectives and policies, management fees, expenses and other information.
The information in this report is based on data obtained from recognized services and sources and is believed to be reliable. Any opinions, projections, or recommendations in this report are subject to change without notice and are not intended as individual investment advice. Furthermore, Bessemer Investment Management LLC and its affiliates, as agents for their clients, and any of its officers or employees may have a beneficial interest or position in any of the securities mentioned, which may be contrary to any opinion or projection expressed in this report.
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Cusip 680414307 |
Cusip 680414604 |
Cusip 680414109 |
Cusip 680414406 |
Cusip 680414505 |
Cusip 680414703 |
Cusip 680414802 |
(A21-SAR2012) |
(04/12) |
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Item 2. Code of Ethics.
Not applicable.
Item 3. Audit Committee Financial Expert.
Not applicable.
Item 4. Principal Accountant Fees and Services.
Not applicable.
Item 5. Audit Committee of Listed Registrants.
Not applicable.
Item 6. Investments.
(a) | The Schedule of Investments in securities of unaffiliated issuers as of the close of reporting period for the Old Westbury Global Small & Mid Cap Fund is listed below. The Schedules of Investments in securities of unaffiliated issuers as of the close of the reporting period for the Old Westbury Large Cap Core Fund, Old Westbury Large Cap Strategies Fund, Old Westbury Global Opportunities Fund, Old Westbury Real Return Fund, Old Westbury Fixed Income Fund and Old Westbury Municipal Bond Fund are included as part of the report to shareholders filed under Item 1 of this form. |
|
Old Westbury Funds, Inc. | |
Global Small & Mid Cap Fund | |
Portfolio of Investments | April 30, 2013 |
(Unaudited) |
Shares | Value | |||||||
COMMON STOCKS — 89.3% | ||||||||
ARGENTINA — 0.0% | ||||||||
84,000 | Arcos Dorados Holdings, Inc. - Class A | $ | 1,144,080 | |||||
AUSTRALIA — 2.1% | ||||||||
134,164 | ABM Resources NL(b) | 4,451 | ||||||
13,412 | Acrux Ltd. | 56,173 | ||||||
154,673 | Adelaide Brighton Ltd. | 545,188 | ||||||
96,977 | Aditya Birla Minerals Ltd. | 34,182 | ||||||
69,555 | AED Oil Ltd.(b)(c)(d) | 0 | ||||||
34,185 | Ainsworth Game Technology Ltd. | 135,025 | ||||||
25,514 | AJ Lucas Group Ltd.(b) | 34,121 | ||||||
119,863 | Alcyone Resources Ltd.(b)(c)(d) | 994 | ||||||
54,720 | Alkane Resources Ltd.(b) | 31,200 | ||||||
44,977 | Alliance Resources Ltd.(b) | 7,227 | ||||||
155,725 | ALS Ltd. | 1,580,497 | ||||||
115,610 | Altona Mining Ltd.(b) | 21,573 | ||||||
946,258 | Alumina Ltd.(b) | 946,650 | ||||||
38,166 | Amalgamated Holdings Ltd. | 339,482 | ||||||
102,022 | Amcom Telecommunications Ltd. | 213,648 | ||||||
10,329 | Ampella Mining Ltd.(b) | 2,142 | ||||||
70,717 | Ansell Ltd. | 1,158,333 | ||||||
68,098 | Antares Energy Ltd.(b) | 26,474 | ||||||
38,601 | APA Group | 260,515 | ||||||
171,240 | APN News & Media Ltd. | 74,560 | ||||||
26,421 | Aquarius Platinum Ltd.(b) | 15,887 | ||||||
59,980 | Aquila Resources Ltd.(b) | 115,035 | ||||||
19,603 | ARB Corp. Ltd. | 264,191 | ||||||
31,564 | Aristocrat Leisure Ltd. | 128,926 | ||||||
556,970 | Arrium Ltd. | 490,799 | ||||||
74,907 | ASG Group Ltd. | 27,180 | ||||||
312,628 | Atlas Iron Ltd. | 270,624 | ||||||
58,802 | Aurora Oil and Gas Ltd.(b) | 185,928 | ||||||
100,464 | Ausdrill Ltd. | 157,789 | ||||||
26,143 | Ausenco Ltd. | 75,074 | ||||||
59,521 | Austal Ltd.(b) | 41,034 | ||||||
17,417 | Austbrokers Holdings Ltd. | 189,951 | ||||||
15,319 | Austin Engineering Ltd. | 80,994 | ||||||
114,408 | Australian Agricultural Co. Ltd.(b) | 138,770 | ||||||
859 | Australian Education Trust REIT | 1,340 | ||||||
256,656 | Australian Infrastructure Fund | 838,136 | ||||||
45,583 | Australian Pharmaceutical Industries Ltd. | 22,919 | ||||||
79,373 | Automotive Holdings Group Ltd. | 334,904 | ||||||
228,600 | AWE Ltd.(b) | 305,716 | ||||||
19,409 | Bandanna Energy Ltd.(b) | 2,716 | ||||||
79,793 | Bank of Queensland Ltd. | 829,695 | ||||||
107,928 | Bannerman Resources Ltd.(b) | 6,713 | ||||||
96,629 | Bathurst Resources Ltd.(b) | 17,030 | ||||||
21,519 | BC Iron Ltd. | 76,742 | ||||||
773,400 | Beach Energy Ltd. | 1,090,425 | ||||||
43,477 | Beadell Resources Ltd.(b) | 31,776 | ||||||
4,598 | Bell Financial Group Ltd. | 3,241 |
Shares | Value | |||||||
AUSTRALIA (continued) | ||||||||
372,904 | Bendigo and Adelaide Bank Ltd. | $ | 4,275,677 | |||||
100,434 | Billabong International Ltd.(b) | 49,457 | ||||||
22,861 | Bionomics Ltd.(b) | 9,006 | ||||||
2,485 | Blackmores Ltd. | 72,906 | ||||||
2,040 | Blackthorn Resources Ltd.(b) | 1,163 | ||||||
215,158 | BlueScope Steel Ltd.(b) | 1,104,118 | ||||||
158,551 | Boom Logistics Ltd.(b) | 34,518 | ||||||
379,695 | Boral Ltd. | 1,968,147 | ||||||
26,441 | Bradken Ltd. | 140,894 | ||||||
10,640 | Bravura Solutions Ltd.(b) | 2,261 | ||||||
10,942 | Breville Group Ltd. | 79,178 | ||||||
24,551 | Brickworks Ltd. | 324,767 | ||||||
17,627 | BT Investment Management Ltd. | 64,141 | ||||||
26,490 | Cabcharge Australia Ltd. | 131,269 | ||||||
154,604 | Caltex Australia Ltd. | 3,452,384 | ||||||
255,734 | Cape Lambert Resources Ltd.(b) | 39,768 | ||||||
25,142 | Cardno Ltd. | 169,681 | ||||||
490,458 | Carnarvon Petroleum Ltd.(b) | 25,423 | ||||||
68,742 | carsales.com Ltd. | 689,130 | ||||||
129,012 | Cash Converters International Ltd. | 188,583 | ||||||
9,437 | Cedar Woods Properties Ltd. | 54,200 | ||||||
355,160 | Central Petroleum Ltd.(b) | 44,183 | ||||||
189,000 | Ceramic Fuel Cells Ltd.(b) | 8,621 | ||||||
50,912 | Chalice Gold Mines Ltd. | 8,709 | ||||||
178,666 | Challenger Ltd. | 777,936 | ||||||
354,184 | Citigold Corp. Ltd.(b) | 19,828 | ||||||
102,039 | Clough Ltd. | 124,825 | ||||||
84,396 | Coal of Africa Ltd.(b) | 14,436 | ||||||
56,720 | Coalspur Mines Ltd.(b) | 26,755 | ||||||
3,559 | Cochlear Ltd. | 243,441 | ||||||
157,396 | Cockatoo Coal Ltd.(b) | 10,280 | ||||||
119,759 | Coffey International Ltd.(b) | 29,797 | ||||||
19,105,479 | Commonwealth Property Office Fund REIT(d) | 22,975,692 | ||||||
82,958 | Cooper Energy Ltd.(b) | 36,121 | ||||||
19,597 | Credit Corp. Group Ltd. | 180,611 | ||||||
136,841 | Cromwell Property Group REIT | 148,956 | ||||||
17,217 | CSG Ltd. | 13,030 | ||||||
226,536 | CSR Ltd. - Placement Shares | 476,745 | ||||||
4,990 | Cudeco Ltd.(b) | 19,503 | ||||||
220,336 | Cue Energy Resources Ltd.(b) | 30,837 | ||||||
58,899 | Dart Energy Ltd.(b) | 3,664 | ||||||
5,580 | Data#3 Ltd. | 6,710 | ||||||
118,091 | David Jones Ltd. | 364,826 | ||||||
47,635 | Decmil Group Ltd. | 92,100 | ||||||
232,983 | Deep Yellow Ltd.(b) | 8,937 | ||||||
7,518 | Devine Ltd. | 7,015 | ||||||
60,174 | Discovery Metals Ltd.(b)(c)(d) | 21,210 | ||||||
5,787 | Domino’s Pizza Enterprises Ltd. | 78,652 | ||||||
145,245 | Downer EDI Ltd. | 739,325 | ||||||
6,112 | Dragon Mining Ltd.(b) | 2,788 | ||||||
58,868 | Drillsearch Energy Ltd.(b) | 68,962 |
1 |
|
Old Westbury Funds, Inc. | |
Global Small & Mid Cap Fund | |
Portfolio of Investments - (Continued) | April 30, 2013 |
(Unaudited) |
Shares | Value | |||||||
AUSTRALIA (continued) | ||||||||
173,324 | DUET Group | $ | 442,025 | |||||
142,448 | DuluxGroup Ltd. | 692,599 | ||||||
16,365 | DWS Ltd. | 25,788 | ||||||
308,112 | Echo Entertainment Group Ltd. | 1,156,298 | ||||||
224,451 | Elders Ltd.(b) | 18,615 | ||||||
303,779 | Emeco Holdings Ltd. | 144,867 | ||||||
52,026 | Energy Resources of Australia Ltd.(b) | 55,553 | ||||||
329,666 | Energy World Corp. Ltd.(b) | 109,365 | ||||||
297,730 | Envestra Ltd. | 324,089 | ||||||
26,509 | Eservglobal Ltd.(b) | 9,619 | ||||||
20,763 | Euroz Ltd. | 22,816 | ||||||
88,014 | Evolution Mining Ltd.(b) | 88,963 | ||||||
1,074,060 | Fairfax Media Ltd. | 723,760 | ||||||
3,195 | Fantastic Holdings Ltd. | 9,606 | ||||||
883,731 | FAR Ltd.(b) | 31,150 | ||||||
16,777 | Finbar Group Ltd. | 25,480 | ||||||
45,866 | FKP Property Group | 78,456 | ||||||
29,231 | Fleetwood Corp. Ltd. | 259,097 | ||||||
25,840 | Flight Centre Ltd. | 1,022,509 | ||||||
260,540 | Flinders Mines Ltd.(b) | 12,965 | ||||||
1,523,144 | Focus Minerals Ltd.(b) | 26,844 | ||||||
13,085 | Forge Group Ltd. | 78,407 | ||||||
9,551 | G.U.D. Holdings Ltd. | 72,182 | ||||||
2,973 | G8 Education Ltd. | 7,490 | ||||||
17,506 | Galaxy Resources Ltd.(b)(c) | 4,174 | ||||||
109,137 | Gindalbie Metals Ltd.(b) | 20,366 | ||||||
761,332 | Goodman Fielder Ltd.(b) | 611,686 | ||||||
95,093 | GrainCorp Ltd. - Class A | 1,263,832 | ||||||
140,887 | Grange Resources Ltd. | 24,099 | ||||||
63,776 | Great Southern Ltd.(b)(c)(d) | 0 | ||||||
55,852 | Greenland Minerals & Energy Ltd.(b) | 15,923 | ||||||
53,563 | Gryphon Minerals Ltd.(b) | 11,383 | ||||||
81,204 | Gujarat NRE Coking Coal Ltd.(b) | 14,732 | ||||||
180,274 | Gunns Ltd.(b)(c)(d) | 0 | ||||||
73,089 | GWA Group Ltd. | 196,248 | ||||||
241,775 | Harvey Norman Holdings Ltd. | 751,944 | ||||||
2,523 | Hastie Group Ltd.(b)(c)(d) | 0 | ||||||
48,619 | HFA Holdings Ltd. | 44,607 | ||||||
871,599 | Hillgrove Resources Ltd.(b) | 67,769 | ||||||
42,234 | Hills Holdings Ltd. | 48,162 | ||||||
234,388 | Horizon Oil Ltd.(b) | 98,411 | ||||||
123,936 | iiNET Ltd. | 792,748 | ||||||
14,388 | Iluka Resources Ltd. | 133,498 | ||||||
93,035 | Imdex Ltd. | 95,003 | ||||||
48,706 | IMF Australia Ltd. | 97,452 | ||||||
65,287 | Independence Group NL | 223,354 | ||||||
88,665 | Indophil Resources NL(b) | 24,359 | ||||||
72,251 | Infigen Energy(b) | 19,849 | ||||||
32,314 | International Ferro Metals Ltd.(b) | 5,019 | ||||||
89,852 | Intrepid Mines Ltd.(b) | 24,685 | ||||||
34,328 | Invocare Ltd. | 415,310 | ||||||
143,092 | IOOF Holdings Ltd. | 1,308,388 |
Shares | Value | |||||||
AUSTRALIA (continued) | ||||||||
32,879 | Iress Ltd. | $ | 284,956 | |||||
12,036 | Iron Ore Holdings Ltd.(b) | 10,169 | ||||||
679 | Ivanhoe Australia Ltd.(b) | 127 | ||||||
35,560 | JB Hi-Fi Ltd. | 589,840 | ||||||
69,350 | Jupiter Mines Ltd.(b) | 6,830 | ||||||
7,671 | Kagara Ltd.(b)(c)(d) | 954 | ||||||
312,325 | Kangaroo Resources Ltd.(b) | 9,066 | ||||||
32,234 | Kingsgate Consolidated Ltd. | 72,181 | ||||||
28,356 | Kingsrose Mining Ltd. | 16,756 | ||||||
79,680 | Leyshon Resources Ltd.(b) | 17,347 | ||||||
73,973 | Linc Energy Ltd.(b) | 147,240 | ||||||
51,812 | Lonestar Resources Ltd. | 8,594 | ||||||
2,322 | Lycopodium Ltd. | 12,325 | ||||||
20,132 | M2 Telecommunications Group Ltd. | 117,503 | ||||||
427,416 | Macmahon Holdings Ltd. | 79,758 | ||||||
38,335 | Macquarie Atlas Roads Group | 66,766 | ||||||
1,285 | Macquarie Telecom Group Ltd. | 11,190 | ||||||
35,929 | Marengo Mining Ltd. - CDI(b) | 3,054 | ||||||
16,698 | McMillan Shakespeare Ltd. | 264,163 | ||||||
41,936 | McPherson’s Ltd. | 96,515 | ||||||
48,410 | Medusa Mining Ltd. | 164,110 | ||||||
27,057 | Melbourne IT Ltd. | 61,149 | ||||||
121,131 | Mermaid Marine Australia Ltd. | 484,725 | ||||||
110,197 | Metals X Ltd.(b) | 13,138 | ||||||
394,109 | Metcash Ltd. | 1,671,061 | ||||||
90,921 | Metgasco Ltd.(b) | 5,938 | ||||||
76,920 | Mincor Resources NL | 52,232 | ||||||
31,113 | Mineral Deposits Ltd.(b) | 96,764 | ||||||
19,752 | Mineral Resources Ltd. | 199,650 | ||||||
158,007 | Mirabela Nickel Ltd.(b) | 22,933 | ||||||
46,130 | Molopo Energy Ltd.(b) | 14,347 | ||||||
731,690 | Monadelphous Group Ltd. | 15,876,290 | ||||||
59,782 | Mortgage Choice Ltd. | 127,670 | ||||||
221,546 | Mount Gibson Iron Ltd. | 113,690 | ||||||
98,679 | Myer Holdings Ltd. | 328,384 | ||||||
1,050 | MyState Ltd. | 4,866 | ||||||
79,446 | Navitas Ltd. | 445,576 | ||||||
66,974 | Neon Energy Ltd.(b) | 13,539 | ||||||
128,661 | New Hope Corp. Ltd. | 498,851 | ||||||
690,623 | Nexus Energy Ltd.(b) | 93,076 | ||||||
122,821 | NIB Holdings Ltd. | 299,222 | ||||||
252,567 | Nido Petroleum Ltd.(b) | 5,760 | ||||||
69,743 | Noble Mineral Resources Ltd.(b) | 3,181 | ||||||
35,908 | Norfolk Group Ltd. | 16,752 | ||||||
17,851 | Northern Iron Ltd.(b) | 5,829 | ||||||
102,310 | Northern Star Resources Ltd. | 71,594 | ||||||
123,430 | NRW Holdings Ltd. | 166,348 | ||||||
66,006 | Nufarm Ltd. | 287,399 | ||||||
14,318 | Oakton Ltd. | 18,703 | ||||||
122,869 | OceanaGold Corp.(b) | 265,874 | ||||||
9,121 | OPUS Group Ltd.(b) | 1,277 | ||||||
5,532 | Orocobre Ltd.(b) | 6,997 | ||||||
4,066 | OrotonGroup Ltd. | 29,591 | ||||||
121,855 | Otto Energy Ltd.(b) | 8,590 |
2 |
|
Old Westbury Funds, Inc. | |
Global Small & Mid Cap Fund | |
Portfolio of Investments - (Continued) | April 30, 2013 |
(Unaudited) |
Shares | Value | |||||||
AUSTRALIA (continued) | ||||||||
106,170 | OZ Minerals Ltd. | $ | 473,285 | |||||
259,642 | Pacific Brands Ltd. | 231,487 | ||||||
299,559 | Paladin Energy Ltd.(b) | 234,467 | ||||||
229,815 | PanAust Ltd. | 552,738 | ||||||
104,488 | Panoramic Resources Ltd. | 31,955 | ||||||
175,903 | PaperlinX Ltd.(b) | 11,306 | ||||||
5,565 | Patties Foods Ltd. | 8,856 | ||||||
62,821 | Peet Ltd.(b) | 91,828 | ||||||
182,192 | Perilya Ltd.(b) | 28,332 | ||||||
3,388 | Perpetual Ltd. | 144,708 | ||||||
61,898 | Perseus Mining Ltd.(b) | 86,950 | ||||||
48,159 | Platinum Asset Mangement Ltd. | 252,128 | ||||||
67,411 | Platinum Australia Ltd.(b)(d) | 2,935 | ||||||
139,305 | PMP Ltd. | 35,382 | ||||||
40,384 | Premier Investments Ltd. | 362,141 | ||||||
6,047 | Prima Biomed Ltd.(b) | 533 | ||||||
179,210 | Primary Health Care Ltd. | 979,097 | ||||||
25,653 | Prime Media Group Ltd. | 29,254 | ||||||
117,452 | PrimeAg Australia Ltd. | 108,977 | ||||||
59,530 | Programmed Maintenance Services Ltd. | 148,732 | ||||||
450,196 | Qantas Airways Ltd.(b) | 886,764 | ||||||
156,786 | Ramelius Resources Ltd.(b) | 32,508 | ||||||
26,001 | RCR Tomlinson Ltd. | 60,919 | ||||||
17,371 | REA Group Ltd. | 560,244 | ||||||
30,974 | Reckon Ltd. | 79,956 | ||||||
17,274 | Red 5 Ltd.(b)(c) | 11,103 | ||||||
116,233 | Red Fork Energy Ltd.(b) | 83,144 | ||||||
21,888 | Redflex Holdings Ltd. | 23,826 | ||||||
8,531 | Reece Australia Ltd. | 205,448 | ||||||
33,462 | Reed Resources Ltd.(b) | 2,949 | ||||||
31,163 | Regional Express Holdings Ltd. | 36,991 | ||||||
56,462 | Regis Resources Ltd.(b) | 220,674 | ||||||
9,792 | Reject Shop Ltd. (The) | 180,491 | ||||||
417,250 | Resolute Mining Ltd. | 413,097 | ||||||
15,277 | Resource and Investment NL(b) | 1,584 | ||||||
85,881 | Resource Generation Ltd.(b) | 21,368 | ||||||
25,802 | Retail Food Group Ltd. | 106,461 | ||||||
25,608 | Rialto Energy Ltd.(b) | 1,513 | ||||||
123,127 | Ridley Corp. Ltd. | 108,499 | ||||||
195,967 | Roc Oil Co. Ltd.(b) | 92,437 | ||||||
442 | Ruralco Holdings Ltd. | 1,256 | ||||||
107,335 | SAI Global Ltd. | 392,798 | ||||||
9,571 | Salmat Ltd. | 20,142 | ||||||
130,273 | Samson Oil & Gas Ltd.(b) | 3,241 | ||||||
18,074 | Sandfire Resources NL(b) | 105,116 | ||||||
156,455 | Saracen Mineral Holdings Ltd.(b) | 23,519 | ||||||
30,149 | Sedgman Ltd. | 23,129 | ||||||
21,571 | Seek Ltd. | 250,014 | ||||||
199,708 | Senex Energy Ltd.(b) | 141,820 | ||||||
16,377 | Servcorp Ltd. | 60,951 | ||||||
90,368 | Service Stream Ltd. | 21,079 | ||||||
42,058 | Seven Group Holdings Ltd. | 405,058 | ||||||
4,832,889 | Shopping Centres Australasia Property Group, REIT(b) | 8,116,607 |
Shares | Value | |||||||
AUSTRALIA (continued) | ||||||||
335,521 | Sigma Pharmaceuticals Ltd. | $ | 253,919 | |||||
15,184 | Silex Systems Ltd.(b) | 42,816 | ||||||
73,169 | Silver Lake Resources Ltd.(b) | 79,647 | ||||||
9,054 | Sirtex Medical Ltd. | 91,047 | ||||||
36,651 | Skilled Group Ltd. | 108,289 | ||||||
12,616 | Slater & Gordon Ltd. | 35,182 | ||||||
25,349 | SMS Management & Technology Ltd. | 128,243 | ||||||
183,488 | Southern Cross Media Group Ltd. | 295,795 | ||||||
564,987 | SP AusNet | 735,080 | ||||||
439,626 | Spark Infrastructure Group | 815,810 | ||||||
10,795 | Specialty Fashion Group Ltd. | 13,094 | ||||||
353,356 | St Barbara Ltd.(b) | 219,794 | ||||||
29,533 | Starpharma Holdings Ltd.(b) | 29,851 | ||||||
114,859 | Straits Resources Ltd.(b) | 3,572 | ||||||
150,289 | STW Communications Group Ltd. | 225,916 | ||||||
61,546 | Sundance Energy Australia Ltd.(b) | 59,338 | ||||||
322,878 | Sundance Resources Ltd.(b) | 35,146 | ||||||
42,068 | Sunland Group Ltd. | 63,673 | ||||||
65,953 | Super Retail Group Ltd. | 899,794 | ||||||
67,322 | Swick Mining Services Ltd. | 22,683 | ||||||
173,822 | Tabcorp Holdings Ltd. | 621,694 | ||||||
24,145 | Talon Petroleum Ltd.(b) | 1,302 | ||||||
70,902 | Tanami Gold NL(b) | 6,983 | ||||||
105,245 | Tap Oil Ltd.(b) | 61,646 | ||||||
54,903 | Tassal Group Ltd. | 122,373 | ||||||
356,067 | Tatts Group Ltd. | 1,207,069 | ||||||
15,839 | Technology One Ltd. | 28,407 | ||||||
394,805 | Ten Network Holdings Ltd.(b) | 126,881 | ||||||
69,352 | TFS Corp. Ltd.(b) | 39,543 | ||||||
57,103 | Thorn Group Ltd. | 119,581 | ||||||
67,860 | Tiger Resources Ltd.(b) | 16,884 | ||||||
114,980 | Toll Holdings Ltd. | 679,438 | ||||||
188,636 | Toro Energy Ltd.(b) | 17,796 | ||||||
16,986 | Tox Free Solutions Ltd.(c) | 57,759 | ||||||
126,484 | TPG Telecom Ltd. | 474,676 | ||||||
3,635,629 | Transfield Services Ltd.(d) | 6,011,639 | ||||||
372,223 | Transpacific Industries Group Ltd.(b) | 374,307 | ||||||
267,850 | Treasury Wine Estates Ltd. | 1,621,650 | ||||||
35,940 | Troy Resources Ltd. | 69,674 | ||||||
3,189 | Trust Co. Ltd. (The) | 18,877 | ||||||
26,635 | UGL Ltd. | 277,782 | ||||||
79,768 | Unity Mining Ltd.(b) | 5,127 | ||||||
144,020 | UXC Ltd. | 176,180 | ||||||
101,055 | Venture Minerals Ltd.(b) | 18,857 | ||||||
65,384 | Village Roadshow Ltd. | 352,474 | ||||||
521,584 | Virgin Australia Holdings Ltd.(b) | 246,030 | ||||||
521,584 | Virgin Australia Holdings Ltd. - CVR Shares(b)(c)(d) | 2,704 | ||||||
1,251 | Warrnambool Cheese & Butter Factory Co. Holding Ltd. | 5,577 |
3 |
|
Old Westbury Funds, Inc. | |
Global Small & Mid Cap Fund | |
Portfolio of Investments - (Continued) | April 30, 2013 |
(Unaudited) |
Shares | Value | |||||||
AUSTRALIA (continued) | ||||||||
64,022 | Washington H. Soul Pattinson & Co. Ltd. | $ | 965,042 | |||||
31,829 | Watpac Ltd.(b) | 24,418 | ||||||
51,135 | WDS Ltd. | 24,650 | ||||||
8,040 | Webjet Ltd. | 36,508 | ||||||
43,968 | Western Areas NL | 125,805 | ||||||
5,683 | White Energy Co. Ltd.(b) | 972 | ||||||
56,713 | Whitehaven Coal Ltd. | 114,649 | ||||||
46,555 | WHK Group Ltd. | 41,507 | ||||||
984 | Wide Bay Australia Ltd. | 5,713 | ||||||
1,550 | Windimurra Vanadium Ltd.(b)(c)(d) | 0 | ||||||
31,994 | Wotif.com Holdings Ltd. | 169,489 | ||||||
5,124 | YTC Resources Ltd.(b) | 1,062 | ||||||
120,660,331 | ||||||||
AUSTRIA — 0.2% | ||||||||
1,001 | Agrana Beteiligungs AG | 138,286 | ||||||
6,370 | AMS AG | 593,976 | ||||||
26,522 | Andritz AG | 1,728,245 | ||||||
4,521 | A-TEC Industries AG(b)(c)(d) | 0 | ||||||
3,757 | Austria Technologie & Systemtechnik AG | 31,666 | ||||||
868 | CA Immobilien Anlagen AG | 12,203 | ||||||
5,957 | CAT Oil AG | 67,075 | ||||||
255 | DO & CO AG | 12,677 | ||||||
8,152 | EVN AG | 110,042 | ||||||
2,705 | Flughafen Wien AG | 167,680 | ||||||
154,230 | IMMOFINANZ AG | 630,667 | ||||||
9,812 | Intercell AG(b) | 20,675 | ||||||
2,036 | Kapsch TrafficCom AG | 100,013 | ||||||
2,971 | Lenzing AG | 245,754 | ||||||
2,509 | Mayr Melnhof Karton AG | 269,823 | ||||||
902 | Oberbank AG | 57,375 | ||||||
14,426 | Oesterreichische Post AG | 639,294 | ||||||
6,723 | Palfinger AG | 199,212 | ||||||
8,187 | POLYTEC Holding AG | 69,867 | ||||||
15,062 | Raiffeisen Bank International AG | 531,503 | ||||||
6,417 | RHI AG | 212,075 | ||||||
516 | Rosenbauer International AG | 37,817 | ||||||
5,208 | S IMMO AG | 32,579 | ||||||
4,944 | Schoeller-Bleckmann Oilfield Equipment AG | 483,507 | ||||||
4,742 | Semperit AG Holding | 185,476 | ||||||
27,419 | Strabag SE | 631,374 | ||||||
41,501 | Telekom Austria AG | 284,533 | ||||||
7,694 | Uniqa Versicherungen AG(b) | 102,339 | ||||||
8,307 | Verbund AG | 181,876 | ||||||
14,471 | Vienna Insurance Group AG Wiener Versicherung Gruppe | 766,877 | ||||||
98,464 | Voestalpine AG | 3,073,880 | ||||||
40,816 | Wienerberger AG | 502,587 | ||||||
1,597 | Wolford AG | 43,357 | ||||||
25,987 | Zumtobel AG | 291,003 | ||||||
12,455,313 |
4 |
|
Old Westbury Funds, Inc. | |
Global Small & Mid Cap Fund | |
Portfolio of Investments - (Continued) | April 30, 2013 |
(Unaudited) |
Shares | Value | |||||||
BELGIUM (continued) | ||||||||
3,065 | Warehouses De Pauw SCA REIT | $ | 195,768 | |||||
460 | Wereldhave Belgium NV REIT | 52,959 | ||||||
13,449,554 | ||||||||
BERMUDA — 0.7% | ||||||||
150,000 | Alterra Capital Holdings Ltd. | 4,882,500 | ||||||
21,552 | Archer Ltd.(b) | 14,090 | ||||||
210,000 | Argo Group International Holdings Ltd.(d) | 8,704,500 | ||||||
275,000 | Aspen Insurance Holdings Ltd. | 10,502,250 | ||||||
221,995 | Catlin Group Ltd. | 1,812,113 | ||||||
244,000 | Endurance Specialty Holdings Ltd. | 11,948,680 | ||||||
17,151 | Frontline Ltd.(b) | 31,824 | ||||||
119,817 | Golden Ocean Group Ltd.(b) | 115,319 | ||||||
172,995 | Hiscox Ltd.(d) | 1,507,529 | ||||||
30,201 | Northern Offshore Ltd. | 51,849 | ||||||
165,400 | Wilson Sons Ltd. - BDR(d) | 2,281,664 | ||||||
41,852,318 | ||||||||
BRAZIL — 1.0% | ||||||||
88,800 | Abril Educacao SA - Units | 1,916,917 | ||||||
19,400 | AES Tiete SA | 178,704 | ||||||
31,800 | AES Tiete SA - Preference Shares | 322,331 | ||||||
57,100 | All America Latina Logistica SA | 288,532 | ||||||
52,877 | Alpargatas SA - Preference Shares | 352,293 | ||||||
60,500 | Arteris SA | 669,484 | ||||||
142,300 | Autometal SA | 1,492,167 | ||||||
57,117 | Banco ABC Brasil SA - Preference Shares | 448,771 | ||||||
25,800 | Banco Daycoval SA - Preference Shares | 135,657 | ||||||
109,290 | Banco do Estado do Rio Grande do Sul - Class B, Preference Shares | 920,423 | ||||||
3,200 | Banco Industrial e Comercial SA - Preference Shares | 9,037 | ||||||
21,922 | Banco Pine SA - Preference Shares | 151,643 | ||||||
16,200 | Banco Sofisa SA - Preference Shares | 29,149 | ||||||
8,200 | Bematech SA | 32,993 | ||||||
5,929 | BHG SA - Brazil Hospitality Group(b) | 51,326 | ||||||
108,692 | BR Malls Participacoes SA | 1,280,455 | ||||||
31,300 | Brasil Brokers Participacoes SA | 110,604 | ||||||
144,318 | Braskem SA - Class A, Preference Shares | 1,254,375 | ||||||
321,500 | Brazil Pharma SA | 2,023,084 | ||||||
102,611 | Brookfield Incorporacoes SA | 112,317 | ||||||
20,000 | CCX Carvao da Colombia SA(b) | 39,085 | ||||||
5,700 | Centrais Eletricas de Santa Catarina SA - Preference Shares | 68,232 |
Shares | Value | |||||||
BRAZIL (continued) | ||||||||
15,962 | CETIP SA - Mercados Organizados | $ | 188,441 | |||||
6,300 | Cia de Gas de Sao Paulo - Class A, Preference Shares | 169,249 | ||||||
350,800 | Cia de Locacao das Americas(d) | 1,995,304 | ||||||
16,400 | Cia de Saneamento de Minas Gerais-COPASA | 377,878 | ||||||
5,300 | Cia de Saneamento do Parana - Preference Shares | 19,364 | ||||||
8,500 | Cia de Transmissao de Energia Eletrica Paulista - Preference Shares | 148,822 | ||||||
46,400 | Cia Energetica de Sao Paulo -Class B, Preference Shares | 490,496 | ||||||
5,950 | Cia Energetica do Ceara - Class A, Preference Shares | 142,181 | ||||||
26,208 | Cia Ferro Ligas da Bahia-Ferbasa - Preference Shares | 160,464 | ||||||
29,100 | Cia Hering | 591,818 | ||||||
27,800 | Cia Paranaense de Energia - Class B, Preference Shares | 493,126 | ||||||
18,300 | Cia Providencia Industria e Comercio SA | 80,947 | ||||||
65,000 | Contax Participacoes SA - Preference Shares | 172,185 | ||||||
11,750 | Cremer SA | 75,054 | ||||||
9,600 | CSU Cardsystem SA | 17,034 | ||||||
36,240 | Cyrela Brazil Realty SA Empreendimentos e Participacoes | 326,762 | ||||||
400 | Cyrela Commercial Properties SA Empreendimentos e Participacoes | 4,684 | ||||||
104,500 | Diagnosticos da America SA | 575,057 | ||||||
4,252 | Direcional Engenharia SA | 33,578 | ||||||
205,436 | Duratex SA | 1,542,246 | ||||||
69,600 | EDP - Energias do Brasil SA | 424,401 | ||||||
21,180 | Eletropaulo Metropolitana Eletricidade de Sao Paulo SA - Preference Shares | 87,017 | ||||||
390,320 | Embraer SA | 3,406,216 | ||||||
14,569 | Equatorial Energia SA | 154,301 | ||||||
3,000 | Estacio Participacoes SA | 71,223 | ||||||
40,293 | Eternit SA | 192,327 | ||||||
6,836 | Eucatex SA Industria e Comercio - Preference Shares | 26,070 | ||||||
69,100 | Even Construtora e Incorporadora SA | 323,958 | ||||||
30,500 | Ez Tec Empreendimentos e Participacoes SA | 417,236 | ||||||
2,900 | Fertilizantes Heringer SA(b) | 16,799 | ||||||
10,123 | Fibria Celulose SA(b) | 107,820 | ||||||
231,300 | Fleury SA | 2,202,307 | ||||||
2,185 | Forjas Taurus SA | 3,058 | ||||||
8,937 | Forjas Taurus SA - Preference Shares | 11,658 |
5 |
|
Old Westbury Funds, Inc. | |
Global Small & Mid Cap Fund | |
Portfolio of Investments - (Continued) | April 30, 2013 |
(Unaudited) |
Shares | Value | |||||||
BRAZIL (continued) | ||||||||
67,000 | Gafisa SA(b) | $ | 133,950 | |||||
18,200 | General Shopping Brasil SA(b) | 111,888 | ||||||
11,500 | Gol-Linhas Aereas Inteligentes SA - Preference Shares(b) | 70,871 | ||||||
50,800 | Grendene SA | 579,157 | ||||||
3,200 | Guararapes Confeccoes SA | 166,658 | ||||||
64,740 | Helbor Empreendimentos SA | 320,343 | ||||||
33,900 | IdeiasNet SA(b) | 31,515 | ||||||
38,400 | Iguatemi Empresa de Shopping Centers SA | 459,476 | ||||||
24,400 | Industrias Romi SA(b) | 65,855 | ||||||
4,170 | Iochpe-Maxion SA | 51,397 | ||||||
51,534 | JHSF Participacoes SA | 187,771 | ||||||
371,200 | JSL SA | 2,968,487 | ||||||
413,900 | Klabin SA - Preference Shares | 2,767,953 | ||||||
45,596 | Kroton Educacional SA | 636,737 | ||||||
19,000 | Light SA | 189,929 | ||||||
90,200 | Linx SA | 1,511,636 | ||||||
31,500 | Localiza Rent a Car SA | 559,545 | ||||||
36,310 | Log-In Logistica Intermodal SA(b) | 166,782 | ||||||
17,557 | Lojas Americanas SA | 140,579 | ||||||
20,000 | Lojas Renner SA | 759,215 | ||||||
15,800 | LPS Brasil Consultoria de Imoveis SA | 162,679 | ||||||
8,300 | M Dias Branco SA | 371,203 | ||||||
15,048 | Magnesita Refratarios SA | 54,077 | ||||||
230,300 | Mahle-Metal Leve SA Industria e Comercio | 3,167,740 | ||||||
113,290 | Marcopolo SA - Preference Shares | 753,662 | ||||||
44,884 | Marfrig Alimentos SA(b) | 152,773 | ||||||
13,800 | Marisa Lojas SA | 208,992 | ||||||
800 | Metalfrio Solutions SA(b) | 1,455 | ||||||
5,300 | Mills Estruturas e Servicos de Engenharia SA | 86,808 | ||||||
60,000 | MPX Energia SA(b) | 256,404 | ||||||
10,120 | MRV Engenharia e Participacoes SA | 43,550 | ||||||
30,150 | Multiplan Empreendimentos Imobiliarios SA | 860,611 | ||||||
3,300 | Multiplus SA | 54,397 | ||||||
80,100 | Odontoprev SA | 399,549 | ||||||
15,000 | OSX Brasil SA(b) | 23,016 | ||||||
16,300 | Parana Banco SA - Preference Shares | 118,294 | ||||||
55,429 | Paranapanema SA(b) | 160,684 | ||||||
78,052 | PDG Realty SA Empreendimentos e Participacoes | 87,776 | ||||||
17,500 | Plascar Participacoes Industriais SA | 3,761 | ||||||
42,500 | Porto Seguro SA | 527,227 | ||||||
19,150 | Positivo Informatica SA(b) | 44,028 | ||||||
4,600 | Profarma Distribuidora de Produtos Farmaceuticos SA | 50,351 | ||||||
38,309 | Raia Drogasil SA | 411,859 |
Shares | Value | |||||||
BRAZIL (continued) | ||||||||
57,450 | Randon Participacoes SA - Preference Shares | $ | 374,721 | |||||
20,100 | Restoque Comercio e Confeccoes de Roupas SA | 90,517 | ||||||
14,700 | Rodobens Negocios Imobiliarios SA | 107,637 | ||||||
95,968 | Rossi Residencial SA | 161,166 | ||||||
22,050 | Santos Brasil Participacoes SA - Units | 343,080 | ||||||
34,100 | Sao Martinho SA | 479,607 | ||||||
13,175 | Saraiva SA Livreiros Editores - Preference Shares | 218,557 | ||||||
16,900 | SLC Agricola SA | 148,918 | ||||||
208,700 | Sonae Sierra Brasil SA | 2,880,023 | ||||||
17,700 | Springs Global Participacoes SA(b) | 32,113 | ||||||
114,673 | Sul America SA - Units | 856,863 | ||||||
64,553 | Suzano Papel e Celulose SA - Preference Shares(b) | 235,853 | ||||||
63,300 | Tecnisa SA | 284,110 | ||||||
2,800 | Tempo Participacoes SA | 4,856 | ||||||
8,800 | Tereos Internacional SA | 14,207 | ||||||
31,000 | Totvs SA | 582,891 | ||||||
5,500 | TPI - Triunfo Participacoes e Investimentos SA | 31,311 | ||||||
7,200 | Transmissora Alianca de Energia Eletrica SA - Units | 82,985 | ||||||
72 | Unipar Participacoes SA - Class B, Preference Shares | 18 | ||||||
18,303 | Valid Solucoes e Servicos de Seguranca em Meios de Pagamento e Identificacao SA | 339,485 | ||||||
29,216 | Viver Inc.orporadora e Construtora SA(b) | 9,054 | ||||||
24,161 | WEG SA | 319,772 | ||||||
54,415,044 | ||||||||
CANADA — 2.0% | ||||||||
19,558 | 5N Plus, Inc.(b) | 36,303 | ||||||
3,613 | Aastra Technologies Ltd. | 67,781 | ||||||
15,424 | Aberdeen International, Inc. | 3,598 | ||||||
6,775 | Absolute Software Corp. | 43,981 | ||||||
1,990 | Acadian Timber Corp. | 28,148 | ||||||
89,134 | Advantage Oil & Gas Ltd.(b) | 353,015 | ||||||
21,938 | Aecon Group, Inc. | 270,020 | ||||||
2,700 | AG Growth International, Inc. | 85,895 | ||||||
48,633 | AGF Management Ltd. - Class B | 555,144 | ||||||
91,000 | Aimia, Inc. | 1,436,200 | ||||||
14,401 | Ainsworth Lumber Co. Ltd.(b) | 55,749 | ||||||
19,104 | Air Canada - Class A(b) | 55,750 | ||||||
1,100 | Akita Drilling Ltd. - Class A | 12,174 | ||||||
22,400 | Alamos Gold, Inc. | 312,837 | ||||||
16,728 | Alexco Resource Corp.(b) | 34,039 | ||||||
5,880 | Algoma Central Corp. | 82,295 | ||||||
108,142 | Algonquin Power & Utilities Corp. | 854,445 |
6 |
|
Old Westbury Funds, Inc. | |
Global Small & Mid Cap Fund | |
Portfolio of Investments - (Continued) | April 30, 2013 |
(Unaudited) |
Shares | Value | |||||||
CANADA (continued) | ||||||||
6,088 | Alliance Grain Traders, Inc. | $ | 72,395 | |||||
43,254 | AltaGas Ltd. | 1,611,748 | ||||||
10,000 | Alterra Power Corp.(b) | 3,325 | ||||||
7,748 | Altius Minerals Corp.(b) | 82,521 | ||||||
11,700 | Altus Group Ltd. | 97,785 | ||||||
80,500 | Amerigo Resources Ltd. | 47,943 | ||||||
2,600 | Amica Mature Lifestyles, Inc. | 23,743 | ||||||
39,396 | Anderson Energy Ltd.(b) | 6,452 | ||||||
27,297 | Angle Energy, Inc.(b) | 83,453 | ||||||
81,625 | Antrim Energy, Inc.(b) | 13,774 | ||||||
47,722 | Arsenal Energy, Inc.(b) | 19,895 | ||||||
7,319 | Asanko Gold, Inc.(b) | 18,525 | ||||||
11,000 | Astral Media, Inc. - Class A | 535,014 | ||||||
13,400 | Atco Ltd. - Class I | 1,283,405 | ||||||
15,436 | Atrium Innovations, Inc.(b) | 189,838 | ||||||
22,663 | ATS Automation Tooling Systems, Inc.(b) | 228,778 | ||||||
12,274 | Aura Minerals, Inc.(b) | 3,411 | ||||||
118,849 | AuRico Gold, Inc. | 611,085 | ||||||
29,800 | Aurizon Mines Ltd.(b) | 127,784 | ||||||
1,900 | AutoCanada, Inc. | 42,622 | ||||||
31,292 | Avalon Rare Metals, Inc.(b) | 33,235 | ||||||
114,786 | B2Gold Corp.(b)(d) | 288,261 | ||||||
800 | Badger Daylighting Ltd. | 35,114 | ||||||
46,861 | Ballard Power Systems, Inc.(b) | 43,724 | ||||||
61,339 | Bankers Petroleum Ltd.(b) | 153,431 | ||||||
39,700 | Bellatrix Exploration Ltd.(b) | 248,655 | ||||||
800 | Bengal Energy Ltd.(b) | 580 | ||||||
39,800 | Birchcliff Energy Ltd.(b) | 312,095 | ||||||
300 | Bird Construction, Inc. | 3,891 | ||||||
15,938 | Black Diamond Group Ltd. | 334,912 | ||||||
117,200 | BlackPearl Resources, Inc.(b) | 255,933 | ||||||
3,240 | BMTC Group, Inc. - Class A | 48,241 | ||||||
10,100 | Boardwalk Real Estate Investment Trust, REIT | 660,367 | ||||||
39,486 | Bonavista Energy Corp. | 625,144 | ||||||
1,300 | Bonterra Energy Corp. | 63,797 | ||||||
11,570 | Boralex, Inc. - Class A(b) | 115,878 | ||||||
72,611 | Brigus Gold Corp.(b) | 50,452 | ||||||
100 | Brookfield Real Estate Services, Inc. | 1,290 | ||||||
2,704 | Brookfield Residential Properties, Inc.(b) | 64,416 | ||||||
4,500 | Burcon NutraScience Corp.(b) | 11,390 | ||||||
47,567 | CAE, Inc. | 514,174 | ||||||
9,996 | Calfrac Well Services Ltd. | 253,906 | ||||||
800 | Calian Technologies Ltd. | 16,580 | ||||||
17,900 | Calloway Real Estate Investment Trust | 536,760 | ||||||
16,191 | Calvalley Petroleum, Inc. - Class A(b) | 30,857 | ||||||
45,544 | Canaccord Financial, Inc. | 259,941 | ||||||
6,031 | Canacol Energy Ltd.(b) | 14,906 | ||||||
4,100 | Canada Bread Co. Ltd.(d) | 220,862 | ||||||
86,000 | Canada Lithium Corp.(b) | 50,365 |
Shares | Value | |||||||
CANADA (continued) | ||||||||
18,141 | Canadian Apartment Properties REIT | $ | 468,898 | |||||
15,185 | Canadian Energy Services & Technology Corp. | 186,449 | ||||||
14,224 | Canadian Real Estate Investment Trust | 673,044 | ||||||
84,813 | Canadian Western Bank | 2,395,928 | ||||||
12,328 | Canadian ZInc. Corp.(b) | 4,834 | ||||||
20,232 | Canam Group, Inc. - Class A(b) | 192,791 | ||||||
6,300 | CanElson Drilling, Inc. | 28,516 | ||||||
22,100 | Canexus Corp. | 206,862 | ||||||
44,643 | Canfor Corp.(b) | 932,343 | ||||||
4,755 | Canfor Pulp Products, Inc. | 44,697 | ||||||
5,200 | Cangene Corp.(b) | 16,156 | ||||||
16,000 | CanWel Building Materials Group Ltd. | 38,751 | ||||||
9,688 | Canyon Services Group, Inc. | 100,876 | ||||||
7,707 | Capital Power Corp. | 168,377 | ||||||
32,507 | Capstone Infrastructure Corp. | 132,616 | ||||||
150,362 | Capstone Mining Corp.(b) | 304,470 | ||||||
26,442 | Cardero Resource Corp.(b) | 5,249 | ||||||
53,503 | Carpathian Gold, Inc.(b) | 12,746 | ||||||
36,952 | Cascades, Inc. | 180,459 | ||||||
9,900 | Cash Store Financial Services, Inc. (The) | 29,579 | ||||||
9,078 | Cathedral Energy Services Ltd. | 37,305 | ||||||
16,407 | CCL Industries, Inc. - Class B | 1,025,346 | ||||||
87,500 | Celestica, Inc.(b) | 755,621 | ||||||
34,418 | Centerra Gold, Inc. | 143,828 | ||||||
43,178 | Cequence Energy Ltd.(b) | 75,003 | ||||||
900 | Cervus Equipment Corp. | 18,376 | ||||||
8,900 | Chartwell Retirement Residences REIT | 100,798 | ||||||
70,905 | China Gold International Resources Corp. Ltd.(b) | 201,289 | ||||||
6,908 | Chinook Energy, Inc.(b) | 8,228 | ||||||
2,561 | Chorus Aviation, Inc. | 9,762 | ||||||
7,061 | Churchill Corp. (The) - Class A | 51,585 | ||||||
28,912 | Cineplex, Inc. | 982,626 | ||||||
141,325 | Claude Resources, Inc.(b) | 40,681 | ||||||
7,453 | CML HealthCare, Inc. | 57,186 | ||||||
3,400 | Coastal Contacts, Inc.(b) | 19,844 | ||||||
9,100 | Cogeco Cable, Inc. | 405,027 | ||||||
4,665 | Cogeco, Inc. | 199,343 | ||||||
7,951 | Colabor Group, Inc. | 53,272 | ||||||
28,143 | COM DEV International Ltd.(b) | 102,521 | ||||||
12,775 | Cominar Real Estate Investment Trust | 304,333 | ||||||
10,200 | Computer Modelling Group Ltd. | 204,111 | ||||||
213,762 | Connacher Oil and Gas Ltd.(b) | 25,886 | ||||||
1,907 | Constellation Software, Inc. | 260,273 | ||||||
5,700 | Contrans Group, Inc. - Class A | 60,878 | ||||||
13,103 | Copper Mountain Mining Corp.(b) | 26,272 | ||||||
4,700 | Corby Distilleries Ltd. - Class A | 94,891 | ||||||
24,530 | Corridor Resources, Inc.(b) | 14,853 |
7 |
|
Old Westbury Funds, Inc. | |
Global Small & Mid Cap Fund | |
Portfolio of Investments - (Continued) | April 30, 2013 |
(Unaudited) |
Shares | Value | |||||||
CANADA (continued) | ||||||||
61,673 | Corus Entertainment, Inc. - Class B | $ | 1,514,507 | |||||
36,243 | Cott Corp. | 398,243 | ||||||
45,445 | Crew Energy, Inc.(b) | 315,311 | ||||||
14,236 | Crocotta Energy, Inc.(b) | 46,207 | ||||||
18,511 | Davis & Henderson Corp. | 432,527 | ||||||
19,795 | DeeThree Exploration Ltd.(b) | 154,045 | ||||||
82,138 | Delphi Energy Corp.(b) | 108,436 | ||||||
123,700 | Denison Mines Corp.(b) | 153,482 | ||||||
17,700 | Descartes Systems Group, Inc. (The)(b) | 175,691 | ||||||
7,343 | DHX Media Ltd. | 19,971 | ||||||
1,159 | DirectCash Payments, Inc. | 31,062 | ||||||
30,931 | Dollarama, Inc. | 2,265,827 | ||||||
20,285 | Dominion Diamond Corp.(b) | 321,556 | ||||||
12,100 | Dorel Industries, Inc. - Class B | 522,458 | ||||||
16,835 | DragonWave, Inc.(b) | 33,087 | ||||||
44,400 | Duluth Metals Ltd.(b) | 70,955 | ||||||
35,286 | Dundee Precious Metals, Inc.(b) | 226,262 | ||||||
8,500 | Dundee Real Estate Investment Trust - Class A, REIT | 312,259 | ||||||
11,964 | Dynasty Metals & Mining, Inc.(b) | 12,469 | ||||||
276,953 | Eastern Platinum Ltd.(b) | 24,741 | ||||||
9,705 | Eastmain Resources, Inc.(b) | 4,624 | ||||||
141 | E-L Financial Corp. Ltd. | 73,573 | ||||||
10,019 | Emera, Inc. | 366,967 | ||||||
16,750 | Empire Co. Ltd. - Class A | 1,138,890 | ||||||
8,287 | Enbridge Inc.ome Fund Holdings, Inc. | 203,998 | ||||||
17,481 | Endeavour Silver Corp.(b) | 91,270 | ||||||
8,281 | Enerflex Ltd. | 114,255 | ||||||
136,814 | Energy Fuels, Inc.(b) | 17,654 | ||||||
86,972 | Enerplus Corp. | 1,227,596 | ||||||
600 | Enghouse Systems Ltd. | 13,662 | ||||||
52,616 | Ensign Energy Services, Inc. | 885,768 | ||||||
29,186 | Epsilon Energy Ltd.(b) | 122,254 | ||||||
9,245 | Equal Energy Ltd. | 34,412 | ||||||
5,842 | Equitable Group, Inc. | 223,834 | ||||||
51,813 | Essential Energy Services Trust(b) | 106,460 | ||||||
1,100 | Evertz Technologies Ltd. | 17,088 | ||||||
49,500 | Excellon Resources, Inc.(b) | 16,706 | ||||||
2,974 | Exchange Inc.ome Corp. | 80,826 | ||||||
5,600 | Exco Technologies Ltd. | 31,128 | ||||||
18,409 | EXFO, Inc.(b) | 84,238 | ||||||
10,300 | Extendicare, Inc. | 57,560 | ||||||
64,225 | Finning International, Inc. | 1,385,926 | ||||||
553 | Firm Capital Mortgage Investment Corp. | 7,520 | ||||||
11,791 | First Capital Realty Inc. | 227,756 | ||||||
30,350 | First Majestic Silver Corp.(b) | 374,160 | ||||||
2,412 | First National Financial Corp. | 44,507 | ||||||
32,470 | First Quantum Minerals Ltd. | 566,924 | ||||||
9,700 | FirstService Corp.(b) | 320,910 |
Shares | Value | |||||||
CANADA (continued) | ||||||||
8,981 | Formation Metals, Inc.(b) | $ | 1,114 | |||||
6,417 | Fortress Paper Ltd. - Class A(b) | 50,574 | ||||||
57,167 | Fortuna Silver Mines, Inc.(b) | 178,177 | ||||||
17,852 | Fortune Minerals Ltd.(b) | 6,556 | ||||||
200 | Gamehost, Inc. | 2,581 | ||||||
4,577 | Genivar, Inc. | 113,579 | ||||||
18,685 | Genworth MI Canada, Inc. | 464,598 | ||||||
14,494 | Gibson Energy, Inc. | 377,654 | ||||||
57,000 | Gildan Activewear, Inc. | 2,291,995 | ||||||
2,500 | Glentel, Inc. | 42,285 | ||||||
2,859 | GLG Life Tech Corp.(b)(c)(d) | 1,873 | ||||||
4,565 | Gluskin Sheff & Associates, Inc. | 80,656 | ||||||
10,721 | GLV, Inc. - Class A(b) | 31,287 | ||||||
18,000 | GMP Capital, Inc. | 95,767 | ||||||
4,500 | Goldgroup Mining, Inc.(b) | 715 | ||||||
102,201 | Gran Tierra Energy, Inc.(b) | 568,093 | ||||||
1,700 | Granite Real Estate Investment Trust | 67,413 | ||||||
53,752 | Great Canadian Gaming Corp.(b) | 500,999 | ||||||
61,578 | Great Panther Silver Ltd.(b) | 61,123 | ||||||
6,784 | Guardian Capital Group Ltd. - Class A | 89,560 | ||||||
30,200 | Guyana Goldfields, Inc.(b) | 53,958 | ||||||
2,034 | Hanfeng Evergreen, Inc.(b) | 2,867 | ||||||
22,860 | Hemisphere GPS, Inc.(b) | 17,472 | ||||||
9,300 | Heroux-Devtek, Inc. | 73,019 | ||||||
670 | High Liner Foods, Inc. | 22,046 | ||||||
3,627 | HNZ Group, Inc. | 79,204 | ||||||
13,900 | Home Capital Group, Inc. | 797,479 | ||||||
27,827 | Horizon North Logistics, Inc. | 164,346 | ||||||
74,700 | HudBay Minerals, Inc. | 593,181 | ||||||
80,833 | IAMGOLD Corp. | 434,073 | ||||||
4,936 | IBI Group, Inc. | 22,538 | ||||||
7,800 | Imax Corp.(b) | 199,365 | ||||||
38,486 | Imperial Metals Corp.(b) | 476,371 | ||||||
3,907 | Imris, Inc.(b) | 12,332 | ||||||
3,161 | Indigo Books & Music, Inc. | 36,051 | ||||||
39,500 | Industrial Alliance Insurance and Financial Services, Inc. | 1,459,318 | ||||||
17,479 | Innergex Renewable Energy, Inc. | 176,620 | ||||||
7,700 | InnVest Real Estate Investment Trust | 38,215 | ||||||
23,670 | International Forest Products Ltd. - Class A(b) | 244,348 | ||||||
7,748 | International Tower Hill Mines Ltd.(b) | 7,768 | ||||||
25,626 | Intertape Polymer Group, Inc. | 284,889 | ||||||
21,336 | Ithaca Energy, Inc.(b) | 34,944 | ||||||
19,022 | Ivanhoe Energy, Inc.(b) | 24,735 | ||||||
18,561 | Ivernia, Inc.(b) | 2,764 | ||||||
22,616 | Jean Coutu Group PJC, Inc. (The) Class A | 376,017 | ||||||
16,185 | Just Energy Group, Inc. | 108,602 | ||||||
318,486 | Katanga Mining Ltd.(b) | 214,969 | ||||||
1,300 | K-Bro Linen, Inc. | 41,938 |
8 |
|
Old Westbury Funds, Inc. | |
Global Small & Mid Cap Fund | |
Portfolio of Investments - (Continued) | April 30, 2013 |
(Unaudited) |
Shares | Value | |||||||
CANADA (continued) | ||||||||
16,550 | Kelt Exploration Ltd.(b) | $ | 120,743 | |||||
25,539 | Keyera Corp. | 1,595,284 | ||||||
13,811 | Killam Properties, Inc. | 173,691 | ||||||
4,436 | Kingsway Financial Services, Inc.(b) | 16,336 | ||||||
11,000 | Kirkland Lake Gold, Inc.(b) | 36,905 | ||||||
99,844 | Lake Shore Gold Corp.(b) | 40,633 | ||||||
13,254 | Laramide Resources Ltd.(b) | 9,209 | ||||||
15,057 | Laurentian Bank of Canada | 660,747 | ||||||
1,200 | Le Chateau, Inc. - Class A(b) | 2,978 | ||||||
59,448 | Legacy Oil & Gas, Inc.(b) | 313,925 | ||||||
8,682 | Leisureworld Senior Care Corp. | 111,083 | ||||||
13,400 | Leon’s Furniture Ltd. | 177,700 | ||||||
29,705 | Linamar Corp. | 703,225 | ||||||
7,520 | Liquor Stores N.A. Ltd. | 133,090 | ||||||
34,294 | Long Run Exploration Ltd.(b) | 147,735 | ||||||
226,995 | Lundin Mining Corp.(b) | 892,253 | ||||||
17,647 | MacDonald Dettwiler & Associates Ltd. | 1,274,676 | ||||||
500 | Mainstreet Equity Corp.(b) | 16,031 | ||||||
34,300 | Major Drilling Group International | 256,369 | ||||||
11,156 | Manitoba Telecom Services, Inc. | 361,661 | ||||||
26,564 | Maple Leaf Foods, Inc. | 351,216 | ||||||
27,098 | Martinrea International, Inc.(b) | 229,437 | ||||||
3,900 | MBAC Fertilizer Corp.(b) | 8,671 | ||||||
2,300 | Mccoy Corp. | 10,136 | ||||||
77,075 | McEwen Mining - Minera Andes Acquisition Corp.(b) | 176,727 | ||||||
1,800 | Medical Facilities Corp. | 26,782 | ||||||
2,550 | MEGA Brands, Inc.(b) | 37,145 | ||||||
22,931 | Mega Uranium Ltd.(b) | 2,618 | ||||||
1,400 | Melcor Developments Ltd. | 24,875 | ||||||
38,791 | Mercator Minerals Ltd.(b) | 10,781 | ||||||
29,200 | Methanex Corp. | 1,237,620 | ||||||
13,800 | Migao Corp. | 18,081 | ||||||
5,131 | Mood Media Corp.(b) | 4,737 | ||||||
226,002 | Morguard Real Estate Investment Trust(d) | 4,107,496 | ||||||
14,987 | Morneau Shepell, Inc. | 198,002 | ||||||
100 | MTY Food Group, Inc. | 2,382 | ||||||
44,077 | Mullen Group Ltd. | 956,398 | ||||||
36,382 | Nevsun Resources Ltd. | 136,146 | ||||||
3,004 | New Flyer Industries, Inc. | 28,774 | ||||||
59,400 | New Gold, Inc.(b) | 476,403 | ||||||
13,950 | New Millennium Iron Corp.(b) | 12,324 | ||||||
44,098 | Newalta Corp. | 607,116 | ||||||
22,900 | NGEx Resources, Inc.(b) | 57,963 | ||||||
4,978 | Niko Resources Ltd. | 32,908 | ||||||
7,923 | Norbord, Inc.(b) | 264,244 | ||||||
40,761 | Nordion, Inc. | 284,835 | ||||||
3,099 | North American Energy Partners, Inc.(b) | 12,489 | ||||||
89,018 | North American Palladium Ltd.(b) | 121,053 |
Shares | Value | |||||||
CANADA (continued) | ||||||||
15,831 | North West Co. Inc., (The) | $ | 399,448 | |||||
10,624 | Northern Dynasty Minerals Ltd.(b) | 27,945 | ||||||
198,100 | Northern Property Real Estate Investment Trust - Units(d) | 6,349,346 | ||||||
11,568 | Northland Power, Inc. | 224,482 | ||||||
9,813 | NorthWest Healthcare Properties Real Estate Investment Trust | 127,600 | ||||||
46,201 | NuVista Energy Ltd.(b) | 335,690 | ||||||
8,300 | Oncolytics Biotech, Inc.(b) | 25,375 | ||||||
100 | Onex Corp. | 4,988 | ||||||
12,600 | Open Text Corp.(b)(e) | 823,324 | ||||||
1,052 | Open Text Corp.(b)(e) | 68,790 | ||||||
35,400 | Oromin Explorations Ltd.(b) | 10,541 | ||||||
57,165 | Orvana Minerals Corp.(b) | 43,124 | ||||||
81,800 | Osisko Mining Corp.(b) | 345,079 | ||||||
6,230 | Paladin Labs, Inc.(b) | 310,433 | ||||||
65,268 | Pan American Silver Corp. | 858,406 | ||||||
18,300 | Paramount Resources Ltd. - Class A(b) | 654,836 | ||||||
36,051 | Parex Resources, Inc.(b) | 161,030 | ||||||
3,788 | Parkland Fuel Corp. | 62,604 | ||||||
566,214 | Pason Systems, Inc.(d) | 9,694,964 | ||||||
10,486 | Patheon, Inc.(b) | 46,005 | ||||||
152,736 | Pengrowth Energy Corp. | 779,258 | ||||||
780 | Perpetual Energy, Inc.(b) | 929 | ||||||
9,000 | Petaquilla Minerals Ltd.(b) | 3,573 | ||||||
89,188 | PetroBakken Energy Ltd. | 761,345 | ||||||
46,632 | Petrobank Energy & Resources Ltd.(b) | 31,475 | ||||||
31,472 | Petrominerales Ltd. | 173,690 | ||||||
29,553 | Peyto Exploration & Development Corp. | 850,699 | ||||||
113,000 | Phoscan Chemical Corp.(b) | 28,602 | ||||||
2,107 | PHX Energy Services Corp. | 19,785 | ||||||
5,000 | Platino Energy Corp.(b) | 7,047 | ||||||
2,100 | Points International Ltd.(b) | 36,478 | ||||||
100,753 | Precision Drilling Corp.(e) | 817,065 | ||||||
489 | Precision Drilling Corp.(e) | 3,961 | ||||||
13,536 | Premium Brands Holdings Corp. | 251,923 | ||||||
26,230 | Primero Mining Corp.(b) | 154,914 | ||||||
816 | Progressive Waste Solutions Ltd. | 18,164 | ||||||
31,060 | Progressive Waste Solutions Ltd. - Placement Shares | 692,141 | ||||||
20,867 | Pulse Seismic, Inc. | 64,831 | ||||||
500 | Pure Technologies Ltd.(b) | 2,606 | ||||||
9,975 | QLT, Inc.(b) | 79,606 | ||||||
13,700 | Quebecor, Inc. - Class B | 637,779 | ||||||
52,100 | Questerre Energy Corp. - Class A(b) | 42,406 | ||||||
2,000 | Reitmans (Canada) Ltd. | 16,874 | ||||||
16,700 | Reitmans (Canada) Ltd. - Class A | 146,702 | ||||||
72,307 | Research In Motion Ltd.(b) | 1,184,243 |
9 |
|
Old Westbury Funds, Inc. | |
Global Small & Mid Cap Fund | |
Portfolio of Investments - (Continued) | April 30, 2013 |
(Unaudited) |
Shares | Value | |||||||
CANADA (continued) | ||||||||
4,400 | Richelieu Hardware Ltd. | $ | 173,170 | |||||
12,800 | Richmont Mines, Inc.(b) | 26,681 | ||||||
4,375 | Ritchie Bros. Auctioneers, Inc. | 88,590 | ||||||
58,032 | RMP Energy, Inc.(b) | 221,771 | ||||||
3,231 | Rock Energy, Inc.(b) | 3,688 | ||||||
4,730 | Rocky Mountain Dealerships, Inc. | 59,862 | ||||||
20,712 | Rogers Sugar, Inc. | 128,904 | ||||||
58,461 | RONA, Inc. | 609,301 | ||||||
60,389 | Russel Metals, Inc. | 1,633,431 | ||||||
14,890 | Sabina Gold & Silver Corp.(b) | 17,736 | ||||||
55,084 | San Gold Corp.(b) | 10,662 | ||||||
188,000 | Sandvine Corp.(b) | 382,550 | ||||||
29,941 | Santonia Energy, Inc.(b) | 43,391 | ||||||
46,281 | Savanna Energy Services Corp. | 323,868 | ||||||
75,011 | SCorp.io Mining Corp.(b) | 34,250 | ||||||
14,006 | Secure Energy Services, Inc. | 180,593 | ||||||
44,500 | SEMAFO, Inc. | 84,366 | ||||||
26,812 | ShawCor Ltd. | 1,077,058 | ||||||
149,700 | Sherritt International Corp. | 699,873 | ||||||
15,685 | Sierra Wireless, Inc.(b) | 173,439 | ||||||
29,300 | Silver Standard Resources, Inc.(b) | 210,272 | ||||||
2,437 | Softchoice Corp. | 48,404 | ||||||
10,293 | Sonde Resources Corp.(b) | 11,034 | ||||||
120,726 | Southern Pacific Resource Corp.(b) | 79,090 | ||||||
11,543 | SouthGobi Resources Ltd.(b) | 20,967 | ||||||
56,399 | Sprott Resource Corp. | 241,282 | ||||||
55,970 | Sprott Resource Lending Corp. | 77,223 | ||||||
9,346 | Sprott, Inc. | 29,779 | ||||||
33,471 | Spyglass Resources Corp. | 62,128 | ||||||
33,100 | St. Andrew Goldfields Ltd.(b) | 12,156 | ||||||
10,542 | Stantec, Inc. | 450,791 | ||||||
1,490 | Stella-Jones, Inc. | 120,463 | ||||||
16,685 | Stornoway Diamond Corp.(b) | 9,771 | ||||||
2,400 | Strad Energy Services Ltd. | 7,623 | ||||||
26,948 | Student Transportation, Inc. | 174,402 | ||||||
19,100 | Sulliden Gold Corp. Ltd.(b) | 16,873 | ||||||
23,746 | SunOpta, Inc.(b) | 172,064 | ||||||
13,000 | Superior Plus Corp. | 167,750 | ||||||
21,573 | Surge Energy, Inc.(b) | 65,311 | ||||||
1,700 | TAG Oil Ltd.(b) | 9,281 | ||||||
83,489 | Taseko Mines Ltd.(b) | 196,406 | ||||||
29,538 | Tembec, Inc.(b) | 99,100 | ||||||
19,776 | Teranga Gold Corp.(b) | 17,274 | ||||||
45,730 | Teranga Gold Corp. - CDI(b) | 38,638 | ||||||
16,500 | Timmins Gold Corp.(b) | 38,980 | ||||||
4,949 | TMX Group Ltd. | 260,554 | ||||||
25,860 | TORC Oil & Gas Ltd.(b) | 43,637 | ||||||
24,278 | Toromont Industries Ltd. | 534,986 | ||||||
27,765 | Torstar Corp. - Class B | 186,855 | ||||||
22,950 | Total Energy Services, Inc. | 318,468 | ||||||
104,000 | TransAlta Corp. | 1,528,850 | ||||||
29,278 | Transcontinental, Inc. - Class A | 376,928 | ||||||
69,874 | TransForce, Inc. | 1,378,823 |
Shares | Value | |||||||
CANADA (continued) | ||||||||
33,900 | TransGlobe Energy Corp.(b) | $ | 268,522 | |||||
41,900 | Trican Well Service Ltd. | 547,326 | ||||||
20,400 | Trilogy Energy Corp. | 596,337 | ||||||
55,100 | Trinidad Drilling Ltd. | 376,285 | ||||||
38,000 | Tuscany International Drilling, Inc.(b) | 4,526 | ||||||
66,765 | Twin Butte Energy Ltd. | 147,785 | ||||||
24,940 | Uex Corp.(b) | 11,511 | ||||||
8,241 | Uni-Select, Inc. | 169,327 | ||||||
198,200 | Uranium One, Inc.(b) | 550,856 | ||||||
2,700 | US Silver & Gold, Inc.(b) | 2,439 | ||||||
4,141 | Valener, Inc. | 66,383 | ||||||
91,129 | Veresen, Inc. | 1,219,335 | ||||||
18,999 | Veris Gold Corp.(b) | 26,213 | ||||||
433 | Vermilion Energy, Inc. | 22,221 | ||||||
7,539 | Virginia Mines, Inc.(b) | 71,091 | ||||||
1,300 | Wajax Corp. | 44,493 | ||||||
32,261 | Wesdome Gold Mines Ltd.(b) | 17,292 | ||||||
11,176 | West Fraser Timber Co. Ltd. | 975,771 | ||||||
500 | Western Energy Services Corp. | 3,489 | ||||||
31,338 | Western Forest Products, Inc.(b) | 40,127 | ||||||
6,300 | Westjet Airlines Ltd. | 154,709 | ||||||
1,500 | Whistler Blackcomb Holdings, Inc. | 20,026 | ||||||
34,591 | Whitecap Resources, Inc. | 355,026 | ||||||
48,887 | Wi-Lan, Inc. | 193,131 | ||||||
11,548 | Winpak Ltd. | 214,809 | ||||||
12,846 | Winstar Resources Ltd.(b) | 29,200 | ||||||
1,816 | Xtreme Drilling and Coil Services Corp.(b) | 4,597 | ||||||
10,676 | Zargon Oil & Gas Ltd. | 69,305 | ||||||
115,091,614 | ||||||||
CAYMAN ISLANDS — 0.0% | ||||||||
59,150 | Endeavour Mining Corp.(b) | 63,997 | ||||||
CHILE — 0.1% | ||||||||
367,736 | AES Gener SA | 267,047 | ||||||
487,853 | Aguas Andinas SA - Class A | 388,459 | ||||||
164,971 | Banmedica SA | 437,833 | ||||||
114,351 | Besalco SA | 205,174 | ||||||
17,632 | Cementos BIO BIO SA(b) | 23,774 | ||||||
2,521 | Cia Cervecerias Unidas SA | 43,627 | ||||||
43,481 | Cia General de Electricidad SA | 263,130 | ||||||
18,733 | Cia Sud Americana de Vapores SA(b) | 1,671 | ||||||
924,504 | Colbun SA | 284,644 | ||||||
58,576,059 | Corp.Banca SA | 803,485 | ||||||
17,867 | Cristalerias de Chile SA(d) | 183,621 | ||||||
114,370 | E.CL SA | 238,721 | ||||||
15,622 | Embotelladora Andina SA - Class A, Preference Shares | 82,928 | ||||||
16,401 | Embotelladora Andina SA - Class B, Preference Shares | 111,441 | ||||||
21,705 | Empresas Hites SA | 19,818 | ||||||
1,299,287 | Empresas Iansa SA | 85,552 |
10 |
|
Old Westbury Funds, Inc. | |
Global Small & Mid Cap Fund | |
Portfolio of Investments - (Continued) | April 30, 2013 |
(Unaudited) |
Shares | Value | |||||||
CHILE (continued) | ||||||||
7,303 | ENTEL Chile SA | $ | 140,803 | |||||
20,702 | Forus SA | 144,841 | ||||||
12,790 | Gasco SA | 129,000 | ||||||
448,016 | Inversiones Aguas Metropolitanas SA | 951,208 | ||||||
6,600 | Latam Airlines Group SA - BDR(b) | 133,633 | ||||||
535,964 | Madeco SA | 20,849 | ||||||
880,181 | Masisa SA | 80,365 | ||||||
952 | Molibdenos y Metales SA | 16,879 | ||||||
134,264 | Multiexport Foods SA | 36,207 | ||||||
97,068 | Parque Arauco SA | 251,023 | ||||||
86,572 | PAZ Corp. SA | 56,987 | ||||||
163,857 | Ripley Corp. SA | 170,485 | ||||||
58,002 | SalfaCorp. SA | 108,380 | ||||||
152,959 | Sigdo Koppers SA | 402,413 | ||||||
20,922 | Sociedad Matriz SAAM SA (b) | 2,399 | ||||||
353,128 | Socovesa SA | 170,209 | ||||||
151,511 | Sonda SA | 524,393 | ||||||
235,571 | Vina Concha y Toro SA | 460,688 | ||||||
853,398 | Vina San Pedro Tarapaca SA | 5,889 | ||||||
7,247,576 | ||||||||
CHINA — 1.0% | ||||||||
1,712,500 | AAC Technologies Holdings, Inc. | 8,352,690 | ||||||
250,000 | Agile Property Holdings Ltd. | 323,447 | ||||||
387,000 | Airtac International Group | 2,052,233 | ||||||
570,000 | Aluminum Corp. of China Ltd. - H Shares (b) | 215,215 | ||||||
362,000 | Angang Steel Co. Ltd. - H Shares (b) | 213,184 | ||||||
22,000 | Anhui Expressway Co. Ltd. - H Shares | 12,190 | ||||||
32,000 | Anhui Tianda Oil Pipe Co. Ltd. - H Shares | 5,732 | ||||||
41,000 | Anta Sports Products Ltd. | 34,342 | ||||||
564,000 | Anton Oilfield Services Group | 449,883 | ||||||
639,000 | Asia Cement China Holdings Corp. | 354,078 | ||||||
96,000 | Aupu Group Holding Co. Ltd. | 9,402 | ||||||
98,000 | AVIC International Holdings Ltd.(b) | 39,654 | ||||||
196,000 | AviChina Industry & Technology Co. - H Shares | 94,715 | ||||||
116,000 | Baoye Group Co. Ltd. - H Shares | 91,483 | ||||||
235,000 | BBMG Corp. - H Shares | 188,663 | ||||||
308,000 | Beijing Capital International Airport Co. Ltd. - H Shares | 213,532 | ||||||
374,000 | Beijing Capital Land Ltd. - H Shares | 136,874 | ||||||
33,000 | Beijing Jingkelong Co. Ltd. - H Shares | 12,120 | ||||||
274,000 | Beijing North Star Co. Ltd. - H Shares | 68,146 | ||||||
311,000 | Besunyen Holdings Co. Ltd.(b) | 14,428 |
Shares | Value | |||||||
CHINA (continued) | ||||||||
34,500 | Byd Co. Ltd. - H Shares(b) | $ | 123,148 | |||||
247,500 | BYD Electronic International Co. Ltd. | 131,083 | ||||||
247,656 | Central China Real Estate Ltd. | 84,891 | ||||||
32,000 | Changshouhua Food Co. Ltd. | 21,031 | ||||||
89,000 | Chaowei Power Holdings Ltd. | 41,861 | ||||||
321,000 | China Aoyuan Property Group Ltd. | 73,630 | ||||||
143,000 | China Automation Group Ltd. | 32,064 | ||||||
410,857 | China BlueChemical Ltd. - H Shares | 250,427 | ||||||
516,000 | China Communications Services Corp. Ltd. - H Shares | 377,683 | ||||||
545,500 | China COSCO Holdings Co. Ltd. - H Shares(b) | 230,568 | ||||||
121,000 | China Datang Corp. Renewable Power Co. Ltd. - H Shares | 28,222 | ||||||
954,000 | China Dongxiang Group Co. | 163,505 | ||||||
248,000 | China Eastern Airlines Corp. Ltd. - H Shares(b) | 99,390 | ||||||
68,000 | China Flooring Holding Co. Ltd. | 12,531 | ||||||
354,500 | China Hongqiao Group Ltd. | 205,113 | ||||||
181,500 | China Huiyuan Juice Group Ltd.(b) | 81,627 | ||||||
251,000 | China ITS Holdings Co. Ltd.(b) | 54,339 | ||||||
81,000 | China Liansu Group Holdings Ltd. | 46,136 | ||||||
66,000 | China Lilang Ltd. | 40,569 | ||||||
215,000 | China Longyuan Power Group Corp. - H Shares | 196,987 | ||||||
135,000 | China Medical System Holdings Ltd. | 132,388 | ||||||
222 | China Mobile Games & Entertainment Group Ltd. - ADR(b) | 2,484 | ||||||
180,000 | China Modern Dairy Holdings Ltd.(b) | 62,164 | ||||||
272,678 | China Molybdenum Co. Ltd. - H Shares | 105,415 | ||||||
1,200,084 | China National Building Material Co. Ltd. - H Shares | 1,416,567 | ||||||
411,000 | China National Materials Co. Ltd. - H Shares | 101,689 | ||||||
152,000 | China Nickel Resources Holding Co. Ltd. | 8,814 | ||||||
176,000 | China Qinfa Group Ltd. | 18,824 | ||||||
520,000 | China Rare Earth Holdings Ltd. | 81,081 | ||||||
1,241,500 | China Rongsheng Heavy Industries Group Holdings Ltd. | 180,782 | ||||||
87,700 | China Sandi Holdings Ltd.(b)(c)(d) | 6,668 | ||||||
260,000 | China SCE Property Holdings Ltd. | 65,334 | ||||||
491,488 | China Shanshui Cement Group Ltd. | 278,040 |
11 |
|
Old Westbury Funds, Inc. | |
Global Small & Mid Cap Fund | |
Portfolio of Investments - ( C ontinued) | April 30, 2013 |
(Unaudited) |
Shares | Value | |||||||
CHINA (continued) | ||||||||
246,000 | China Shineway Pharmaceutical Group Ltd. | $ | 437,466 | |||||
793,093 | China Shipping Container Lines Co. Ltd. - H Shares(b) | 189,071 | ||||||
454,000 | China Shipping Development Co. Ltd., H Shares | 194,818 | ||||||
396,000 | China Southern Airlines Co. Ltd. - H Shares | 208,202 | ||||||
90,000 | China Sunshine Paper Holdings Co. Ltd. | 9,974 | ||||||
153,000 | China Suntien Green Energy Corp. Ltd. - H Shares | 44,361 | ||||||
44,000 | China Taifeng Beddings Holdings Ltd. | 11,056 | ||||||
252,000 | China Tontine Wines Group Ltd. | 14,775 | ||||||
292,000 | China Wireless Technologies Ltd. | 116,647 | ||||||
547,000 | China Yurun Food Group Ltd.(b) | 325,656 | ||||||
138,000 | China Zhengtong Auto Services Holdings Ltd.(b) | 85,537 | ||||||
567,600 | China Zhongwang Holdings Ltd.(b) | 189,440 | ||||||
350,000 | Chinasoft International Ltd.(b) | 86,596 | ||||||
312,000 | Chongqing Iron & Steel Co. Ltd. - H Shares(b) | 45,030 | ||||||
340,000 | Chongqing Machinery & Electric Co. Ltd. - H Shares | 45,128 | ||||||
482,000 | Chongqing Rural Commercial Bank - H Shares | 262,113 | ||||||
127,000 | Chu Kong Petroleum & Natural Gas Steel Pipe Holdings Ltd. | 62,026 | ||||||
158,000 | Comtec Solar Systems Group Ltd.(b) | 31,151 | ||||||
1,867,291 | Country Garden Holdings Co. Ltd.(b) | 1,058,753 | ||||||
3,825,000 | CPMC Holdings Ltd.(d) | 3,006,707 | ||||||
9,286,000 | Dalian Port PDA Co. Ltd. - H Shares(d) | 2,034,265 | ||||||
264,000 | Daphne International Holdings Ltd. | 274,881 | ||||||
63,000 | Daqing Dairy Holdings Ltd.(b)(c)(d) | 0 | ||||||
230,000 | Datang International Power Generation Co. Ltd. - H Shares | 101,364 | ||||||
101,000 | Delong Holdings Ltd.(b) | 31,570 | ||||||
33,600 | Dongfang Electric Corp. Ltd. - H Shares | 47,195 | ||||||
7,400 | Dongjiang Environmental Co. Ltd. - H Shares | 34,425 | ||||||
398,000 | Dongyue Group | 222,588 | ||||||
232,000 | ENN Energy Holdings Ltd. | 1,342,345 | ||||||
1,274,000 | Evergrande Real Estate Group Ltd. | 520,426 | ||||||
724,500 | Fantasia Holdings Group Co. Ltd. | 112,968 |
Shares | Value | |||||||
CHINA (continued) | ||||||||
416,000 | First Tractor Co. Ltd. - H Shares(b) | $ | 309,850 | |||||
530,000 | Fosun International Ltd. | 377,003 | ||||||
901,000 | Foxconn International Holdings Ltd.(b) | 348,318 | ||||||
204,000 | Golden Eagle Retail Group Ltd. | 359,096 | ||||||
38,000 | Goldpoly New Energy Holdings Ltd.(b) | 5,680 | ||||||
228,000 | Great Wall Technology Co. Ltd. - H Shares | 41,133 | ||||||
225,500 | Greentown China Holdings Ltd.(b) | 438,205 | ||||||
480,000 | Guangshen Railway Co. Ltd. - H Shares | 241,851 | ||||||
467,753 | Guangzhou Automobile Group Co. Ltd. - H Shares | 385,768 | ||||||
94,000 | Guangzhou Pharmaceutical Co. Ltd. - H Shares(b) | 307,674 | ||||||
184,400 | Guangzhou R&F Properties Co. Ltd. - H Shares | 333,624 | ||||||
18,400 | Guangzhou Shipyard International Co. Ltd. - H Shares(b) | 16,289 | ||||||
56,000 | Hainan Meilan International Airport Co. Ltd. - H Shares | 48,422 | ||||||
2,137,000 | Haitian International Holdings Ltd. | 3,657,063 | ||||||
288,000 | Harbin Electric Co. Ltd. - H Shares | 220,820 | ||||||
439,000 | Hidili Industry International Development Ltd. | 98,999 | ||||||
6,722,000 | Hilong Holding Ltd.(d) | 2,745,919 | ||||||
65,000 | Hisense Kelon Electrical Holdings Co. Ltd. - H Shares(b) | 45,901 | ||||||
473,000 | Honghua Group Ltd. | 230,400 | ||||||
138,000 | Huadian Power International Co. - H Shares(b) | 75,756 | ||||||
162,000 | Huaneng Renewables Corp. Ltd.(b) | 54,695 | ||||||
192,000 | Hunan Non-Ferrous Metal Corp. Ltd. - H Shares(b) | 55,174 | ||||||
285,000 | Intime Department Store Group Co. Ltd. | 337,880 | ||||||
80,000 | JES International Holdings Ltd.(b) | 10,847 | ||||||
122,000 | Jiangsu Expressway Co. Ltd. - H Shares | 133,631 | ||||||
92,000 | Jingwei Textile Machinery - H Shares | 60,818 | ||||||
674,000 | Kaisa Group Holdings Ltd.(b) | 211,055 | ||||||
163,000 | Kasen International Holdings Ltd.(b) | 35,918 | ||||||
458,000 | Kingdee International Software Group Co. Ltd.(b) | 75,545 | ||||||
43,000 | Kingsoft Corp. Ltd. | 49,482 | ||||||
64,000 | Leoch International Technology Ltd. | 8,825 |
12 |
|
Old Westbury Funds, Inc. | |
Global Small & Mid Cap Fund | |
Portfolio of Investments - ( C ontinued) | April 30, 2013 |
(Unaudited) |
Shares | Value | |||||||
CHINA (continued) | ||||||||
76,000 | Li Heng Chemical Fibre Technologies Ltd.(b) | $ | 7,836 | |||||
74,500 | Li Ning Co. - 0% Non-Redeemable Registered Notes(b)(d) | 41,089 | ||||||
214,000 | Li Ning Co. Ltd.(b) | 118,029 | ||||||
103,200 | Lianhua Supermarket Holdings Co. Ltd. - H Shares | 62,637 | ||||||
190,000 | Lingbao Gold Co. Ltd. - H Shares | 56,069 | ||||||
410,000 | Lonking Holdings Ltd. | 77,666 | ||||||
610,000 | Maanshan Iron & Steel - H Shares(b) | 150,139 | ||||||
323,000 | Maoye International Holdings Ltd. | 69,094 | ||||||
934,000 | Metallurgical Corp. of China Ltd. - H Shares(b) | 190,166 | ||||||
3,102,000 | Microport Scientific Corp.(d) | 1,974,689 | ||||||
136,000 | MIE Holdings Corp. | 31,371 | ||||||
146,000 | Minth Group Ltd. | 261,139 | ||||||
34,000 | Nanjing Panda Electronics Co. Ltd. - H Shares | 14,152 | ||||||
348,000 | NVC Lighting Holdings Ltd. | 85,205 | ||||||
96,800 | Pacific Online Ltd. | 38,669 | ||||||
138,000 | Pan Asia Environmental Protection Group Ltd.(b) | 10,314 | ||||||
99,000 | Parkson Retail Group Ltd. | 53,581 | ||||||
556,000 | PCD Stores Group Ltd. | 83,828 | ||||||
131,000 | Peak Sport Products Co. Ltd. | 23,465 | ||||||
430,000 | Powerlong Real Estate Holdings Ltd. | 103,065 | ||||||
402,000 | Qingling Motors Co. Ltd. - H Shares | 113,967 | ||||||
261,000 | Qunxing Paper Holdings Co. Ltd.(c)(d) | 67,935 | ||||||
67,000 | Real Gold Mining Ltd.(b)(c)(d) | 76,064 | ||||||
4,511,430 | Renhe Commercial Holdings Co. Ltd.(b) | 284,866 | ||||||
202,500 | Sany Heavy Equipment International Holdings Co. Ltd. | 81,155 | ||||||
34,500 | Sateri Holdings Ltd. | 8,091 | ||||||
7,285,806 | Semiconductor Manufacturing International Corp.(b) | 525,770 | ||||||
79,500 | Shandong Chenming Paper Holdings Ltd. - H Shares | 30,836 | ||||||
49,600 | Shandong Molong Petroleum Machinery Co. Ltd. - H Shares | 17,833 | ||||||
484,000 | Shandong Weigao Group Medical Polymer Co. Ltd. - H Shares | 464,656 | ||||||
268,000 | Shanghai Electric Group Co. Ltd. - H Shares | 93,936 | ||||||
26,500 | Shanghai Fosun Pharmaceutical Group Co. Ltd. - H Shares(b) | 47,740 |
Shares | Value | |||||||
CHINA (continued) | ||||||||
396,000 | Shanghai Jin Jiang International Hotels Group Co. Ltd. - H Shares | $ | 63,277 | |||||
101,500 | Shanghai Pharmaceuticals Holding Co. Ltd. - H Shares | 209,013 | ||||||
222,000 | Shanghai Prime Machinery Co. Ltd. - H Shares | 26,605 | ||||||
310,500 | Shengli Oil & Gas Pipe Holdings Ltd.(c)(d) | 32,810 | ||||||
20,000 | Shenguan Holdings Group Ltd. | 10,154 | ||||||
78,000 | Shenzhen Expressway Co. Ltd. - H Shares | 32,064 | ||||||
162,000 | Shenzhou International Group Holdings Ltd. | 469,707 | ||||||
930,286 | Shui On Land Ltd. | 309,290 | ||||||
116,000 | Sichuan Expressway Co. Ltd. - H Shares | 35,577 | ||||||
174,000 | Sihuan Pharmaceutical Holdings Group Ltd. | 97,537 | ||||||
784,000 | Sino Dragon New Energy Holdings Ltd.(b) | 12,831 | ||||||
73,000 | SinoMedia Holding Ltd. | 40,544 | ||||||
986,986 | Sino-Ocean Land Holdings Ltd. | 651,195 | ||||||
252,000 | Sinopec Shanghai Petrochemical Co. Ltd. - H Shares | 86,705 | ||||||
234,000 | Sinopec Yizheng Chemical Fibre Co. Ltd. - H Shares | 52,167 | ||||||
40,800 | Sinopharm Group Co. Ltd. - H Shares | 121,188 | ||||||
571,000 | Sinotrans Ltd. - H Shares | 122,145 | ||||||
214,000 | Sinotruk Hong Kong Ltd. | 119,132 | ||||||
67,000 | SITC International Holdings Co. Ltd. | 24,606 | ||||||
1,600,500 | SOHO China Ltd. | 1,381,848 | ||||||
111,000 | SPG Land Holdings Ltd.(b)(c)(d) | 54,641 | ||||||
23,000 | Springland International Holdings Ltd. | 11,974 | ||||||
174,000 | Sunac China Holdings Ltd. | 140,363 | ||||||
182,000 | Sunny Optical Technology Group Co. Ltd. | 241,567 | ||||||
554,000 | Tiangong International Co. Ltd. | 156,345 | ||||||
843,000 | Tong Ren Tang Technologies Co. Ltd. - H Shares | 2,802,704 | ||||||
165,500 | Travelsky Technology Ltd. - H Shares | 105,142 | ||||||
201,000 | Trony Solar Holdings Co. Ltd.(b)(c)(d) | 16,318 | ||||||
32,000 | Tsingtao Brewery Co. Ltd. - H Shares | 214,635 | ||||||
182,000 | Uni-President China Holdings Ltd. | 197,945 | ||||||
31,000 | Weichai Power Co. Ltd. - H Shares | 108,058 | ||||||
121,500 | Weiqiao Textile Co. Ltd. - H Shares | 66,698 | ||||||
546,000 | West China Cement Ltd. | 95,689 |
13 |
|
Old Westbury Funds, Inc. | |
Global Small & Mid Cap Fund | |
Portfolio of Investments - (C ontinued) | April 30, 2013 |
(Unaudited) |
Shares | Value | |||||||
CHINA (continued) | ||||||||
454,000 | Winsway Coking Coal Holding Ltd. | $ | 42,708 | |||||
14,000 | Wumart Stores, Inc. - H Shares | 24,536 | ||||||
382,000 | Xiamen International Port Co. Ltd. - H Shares | 51,195 | ||||||
5,768,000 | Xingda International Holdings Ltd.(d) | 2,207,555 | ||||||
159,000 | Xinhua Winshare Publishing and Media Co. Ltd. - H Shares | 89,948 | ||||||
54,800 | Xinjiang Goldwind Science & Technology Co. Ltd. - H Shares | 33,119 | ||||||
216,000 | Xinjiang Xinxin Mining Industry Co. Ltd. - H Shares | 39,803 | ||||||
142,000 | Xiwang Sugar Holdings Co. Ltd. | 12,443 | ||||||
81,000 | Yantai North Andre Juice Co. - H Shares | 32,358 | ||||||
201,000 | Yashili International Holdings Ltd. | 75,892 | ||||||
312,000 | Yuanda China Holdings Ltd. | 28,546 | ||||||
159,800 | Yuzhou Properties Co. | 40,773 | ||||||
260,500 | Zhaojin Mining Industry Co. Ltd. - H Shares | 289,364 | ||||||
96,000 | Zhejiang Expressway Co. Ltd. - H Shares | 75,462 | ||||||
40,000 | Zhejiang Glass Co. Ltd. - H Shares(b)(c)(d) | 0 | ||||||
176,000 | Zhong An Real Estate Ltd.(b) | 26,082 | ||||||
16,500 | Zhongsheng Group Holdings Ltd. | 22,921 | ||||||
26,000 | Zhuzhou CSR Times Electric Co. Ltd. - H Shares | 71,867 | ||||||
100,000 | ZTE Corp. - H Shares | 168,553 | ||||||
56,813,892 | ||||||||
COLUMBIA — 0.0% | ||||||||
1,764 | Pacific Rubiales Energy Corp. | 37,295 | ||||||
CYPRUS — 0.0% | ||||||||
279,720 | Bank of Cyprus Plc(b)(c)(d) | 0 | ||||||
28,621 | Deep Sea Supply Plc(b) | 44,670 | ||||||
71,521 | ProSafe SE | 686,497 | ||||||
59,416 | Songa Offshore SE(b) | 58,937 | ||||||
790,104 | ||||||||
DENMARK — 0.5% | ||||||||
2,314 | ALK-Abello A/S | 170,451 | ||||||
38,911 | Alm Brand A/S(b) | 140,217 | ||||||
8,231 | Amagerbanken A/S(b)(c)(d) | 0 | ||||||
638 | Ambu A/S - Class B | 22,540 | ||||||
5,855 | Auriga Industries - Class B(b) | 152,552 | ||||||
18,742 | Bang & Olufsen A/S(b) | 156,263 | ||||||
10,357 | Bavarian Nordic A/S(b) | 125,321 | ||||||
1,079 | Brodrene Hartmann A/S | 24,301 | ||||||
436,495 | Chr. Hansen Holding A/S | 15,729,272 | ||||||
7,451 | D/S Norden A/S | 230,331 |
Shares | Value | |||||||
DENMARK (continued) | ||||||||
7,982 | Dalhoff Larsen & Horneman A/S(b) | $ | 5,076 | |||||
2,204 | DFDS A/S | 136,069 | ||||||
48,608 | DSV A/S | 1,223,550 | ||||||
6,366 | East Asiatic Co. Ltd. A/S(b) | 111,327 | ||||||
10,095 | FLSmidth & Co. A/S | 587,215 | ||||||
4,979 | Genmab A/S(b) | 129,816 | ||||||
81,337 | GN Store Nord A/S | 1,485,620 | ||||||
4,777 | Greentech Energy Systems AS(b) | 7,848 | ||||||
14,260 | H. Lundbeck A/S | 284,389 | ||||||
2,058 | H+H International A/S - Class B(b) | 10,143 | ||||||
2,374 | Harboes Bryggeri A/S - Class B | 32,290 | ||||||
963 | IC Companys A/S | 19,307 | ||||||
26,312 | Jyske Bank A/S(b) | 1,023,924 | ||||||
18,842 | NKT Holding A/S | 695,621 | ||||||
70 | Nordjyske Bank A/S | 1,144 | ||||||
250 | Norresundby Bank A/S | 8,236 | ||||||
6,068 | Pandora A/S | 185,220 | ||||||
3,031 | Parken Sport & Entertainment A/S(b) | 45,777 | ||||||
664 | PER Aarsleff A/S - Class B | 64,276 | ||||||
1,788 | Ringkjoebing Landbobank A/S | 293,731 | ||||||
2,141 | Rockwool International A/S - Class B | 282,701 | ||||||
906 | Royal UNIBREW A/S | 82,100 | ||||||
7,711 | Schouw & Co. | 255,394 | ||||||
1,682 | SimCorp A/S | 491,726 | ||||||
2,238 | Solar A/S - Class B | 112,274 | ||||||
12,946 | Spar Nord Bank A/S(b) | 83,241 | ||||||
30,004 | Sydbank A/S(b) | 683,704 | ||||||
33 | Tivoli A/S | 17,575 | ||||||
16,761 | TK Development A/S(b) | 27,831 | ||||||
37,860 | Topdanmark AS(b) | 971,061 | ||||||
33,402 | TopoTarget A/S(b) | 17,111 | ||||||
129,120 | Topsil Semiconductor Materials(b) | 8,895 | ||||||
2,520 | Tryg A/S | 218,209 | ||||||
130,586 | Vestas Wind Systems A/S(b) | 1,131,679 | ||||||
2,285 | Vestjysk Bank A/S(b) | 3,330 | ||||||
27,488,658 | ||||||||
FINLAND — 0.5% | ||||||||
9,996 | Ahlstrom Oyj | 151,389 | ||||||
379 | Aktia Oyj - Class A | 3,244 | ||||||
2,952 | Alma Media Oyj | 13,373 | ||||||
39,132 | Amer Sports Oyj | 665,831 | ||||||
1,770 | Aspo Oyj | 13,054 | ||||||
1,682 | Bank of Aland Plc - Class B | 17,056 | ||||||
2,196 | BasWare Oyj | 56,221 | ||||||
18,521 | Biotie Therapies Oyj(b) | 8,781 | ||||||
15,775 | Cargotec Oyj - Class B | 469,720 | ||||||
93,179 | Citycon Oyj | 301,872 | ||||||
2,317 | Comptel Oyj(b) | 1,312 | ||||||
4,120 | Cramo Oyj | 54,258 |
14 |
|
Old Westbury Funds, Inc. | |
Global Small & Mid Cap Fund | |
Portfolio of Investments - ( C ontinued) | April 30, 2013 |
(Unaudited) |
Shares | Value | |||||||
FINLAND (continued) | ||||||||
7,193 | Digia Plc | $ | 28,134 | |||||
17,999 | Elisa Oyj | 341,335 | ||||||
29,480 | Finnair Oyj | 97,059 | ||||||
1,799 | Finnlines Oyj(b) | 15,992 | ||||||
12,672 | Fiskars Oyj Abp | 281,867 | ||||||
31,761 | F-Secure Oyj | 66,924 | ||||||
11,600 | HKScan Oyj - A Shares | 56,065 | ||||||
39,467 | Huhtamaki Oyj | 739,100 | ||||||
2,336 | Ilkka-Yhtyma Oyj | 9,537 | ||||||
17,695 | Kemira Oyj | 267,757 | ||||||
1,624 | Kesko Oyj - Class A | 51,629 | ||||||
31,775 | Kesko Oyj - Class B | 954,091 | ||||||
15,462 | Konecranes Oyj | 560,788 | ||||||
4,409 | Lassila & Tikanoja Oyj | 78,097 | ||||||
3,187 | Lemminkainen Oyj | 62,957 | ||||||
54,626 | Metsa Board Oyj | 169,778 | ||||||
112,327 | Metso Oyj | 4,613,908 | ||||||
30,299 | Neste Oil Oyj | 472,044 | ||||||
52,206 | Nokian Renkaat Oyj | 2,263,339 | ||||||
10,195 | Okmetic Oyj | 59,479 | ||||||
5,138 | Olvi Oyj - Class A | 151,231 | ||||||
27,673 | Oriola-KD Oyj - Class B | 85,279 | ||||||
10,430 | Orion Oyj - Class A | 298,204 | ||||||
9,618 | Orion Oyj - Class B | 276,128 | ||||||
79,999 | Outokumpu Oyj(b) | 55,575 | ||||||
9,092 | Outotec Oyj | 132,669 | ||||||
13,413 | PKC Group Oyj | 329,615 | ||||||
132,675 | Pohjola Bank Plc - Class A | 2,257,465 | ||||||
766 | Ponsse Oyj | 5,992 | ||||||
4,495 | Poyry Oyj(b) | 26,331 | ||||||
43,685 | Raisio Plc - V Shares | 186,976 | ||||||
26,580 | Ramirent Oyj | 263,234 | ||||||
6,650 | Rapala VMC Oyj | 40,811 | ||||||
40,697 | Rautaruukki Oyj | 261,763 | ||||||
32,226 | Ruukki Group Oyj(b) | 17,400 | ||||||
267 | Saga Furs Oyj | 8,414 | ||||||
19,281 | Sanoma Oyj | 156,923 | ||||||
740 | Sievi Capital Plc | 994 | ||||||
1,969 | SRV Group Plc | 8,298 | ||||||
2,865 | Stockmann Oyj Abp - Class A(d) | 43,994 | ||||||
8,470 | Stockmann Oyj Abp - Class B | 122,477 | ||||||
284,272 | Stora Enso Oyj - Class R | 1,974,813 | ||||||
163,338 | Talvivaara Mining Co. Plc(b) | 41,839 | ||||||
5,454 | Technopolis Oyj | 29,305 | ||||||
675 | Teleste Oyj | 3,680 | ||||||
8,154 | Tieto Oyj | 174,607 | ||||||
16,032 | Tikkurila Oyj | 344,148 | ||||||
237,954 | UPM-Kymmene Oyj | 2,488,187 | ||||||
2,990 | Uponor Oyj | 44,260 | ||||||
3,176 | Vacon Oyj | 217,832 | ||||||
3,684 | Vaisala Oyj - Class A | 100,235 | ||||||
70,509 | Wartsila Oyj Abp | 3,460,775 | ||||||
93,678 | YIT Oyj | 1,770,349 | ||||||
28,325,794 |
Shares | Value | |||||||
FRANCE — 2.1% | ||||||||
3,657 | ABC Arbitrage | $ | 20,998 | |||||
24,037 | Accor SA | 794,554 | ||||||
2,633 | Aeroports de Paris | 238,323 | ||||||
542 | Affine SA REIT | 9,700 | ||||||
61,626 | Air France-KLM(b) | 624,595 | ||||||
1,039,619 | Alcatel-Lucent(b) | 1,425,261 | ||||||
902 | Ales Groupe | 14,373 | ||||||
5,620 | Altamir Amboise | 66,093 | ||||||
9,534 | Alten SA | 343,527 | ||||||
85,802 | Altran Technologies SA(b) | 675,722 | ||||||
996 | ANF Immobilier REIT | 30,169 | ||||||
3,847 | April | 61,910 | ||||||
4,970 | Archos(b) | 16,690 | ||||||
46,520 | Arkema SA | 4,358,359 | ||||||
4,828 | Assystem | 102,622 | ||||||
13,833 | AtoS | 962,788 | ||||||
1,591 | Audika Groupe | 16,196 | ||||||
1,151 | Aurea SA | 6,230 | ||||||
600 | Avanquest Software(b) | 1,217 | ||||||
653 | Axway Software SA | 13,648 | ||||||
8,157 | Beneteau SA(b) | 85,402 | ||||||
2,529 | Bigben Interactive(b) | 23,814 | ||||||
3,331 | BioMerieux | 316,680 | ||||||
120,758 | Boiron SA(d) | 6,843,160 | ||||||
3,630 | Bollore SA | 1,529,770 | ||||||
11,728 | Bonduelle SCA | 299,173 | ||||||
2,143 | Bongrain SA | 145,062 | ||||||
13,097 | Bourbon SA | 357,208 | ||||||
267 | Boursorama(b) | 2,131 | ||||||
27,832 | Bull(b) | 89,434 | ||||||
41 | Burelle SA | 17,872 | ||||||
46,254 | Cap Gemini SA | 2,127,429 | ||||||
244 | Cegedim SA(b) | 7,012 | ||||||
2,386 | Cegid Group | 48,548 | ||||||
90 | Cie des Alpes | 1,802 | ||||||
124,773 | Cie Generale de Geophysique - Veritas(b) | 2,702,240 | ||||||
4,096 | Ciments Francais SA | 223,807 | ||||||
10,437 | Club Mediterranee SA(b) | 177,311 | ||||||
32,302 | Derichebourg SA(b) | 130,556 | ||||||
2,118 | Devoteam SA | 26,080 | ||||||
22,092 | Edenred | 735,498 | ||||||
9,356 | Eiffage SA | 414,122 | ||||||
845 | Electricite de Strasbourg(d) | 103,871 | ||||||
3,548 | Eramet | 378,990 | ||||||
482 | Esso SA Francaise | 30,139 | ||||||
26,260 | Etablissements Maurel et Prom | 446,641 | ||||||
374 | Etam Developpement SA(b) | 9,063 | ||||||
50,701 | Euler Hermes SA | 4,840,876 | ||||||
1,377 | Euro Disney SCA(b) | 8,814 | ||||||
9,312 | Eutelsat Communications SA | 336,202 | ||||||
1,226 | Exel Industries SA - Class A | 58,125 | ||||||
1,098 | Faiveley Transport SA | 66,357 | ||||||
16,125 | Faurecia | 299,425 | ||||||
1,000 | Fimalac(b) | 53,468 | ||||||
539 | Fleury Michon SA | 31,375 |
15 |
|
Old Westbury Funds, Inc. | |
Global Small & Mid Cap Fund | |
Portfolio of Investments - ( C ontinued) | April 30, 2013 |
(Unaudited) |
Shares | Value | |||||||
FRANCE (continued) | ||||||||
3,002 | Fonciere Des Regions REIT | $ | 238,791 | |||||
12,718 | GameLoft SA(b) | 85,420 | ||||||
202 | Gaumont SA(d) | 9,869 | ||||||
1,559 | Gecina SA REIT | 187,471 | ||||||
18,917 | GFI Informatique SA | 80,717 | ||||||
2,835 | GL Events | 59,737 | ||||||
257 | Groupe Crit | 5,067 | ||||||
149,815 | Groupe Eurotunnel SA | 1,254,229 | ||||||
922 | Groupe Flo | 3,424 | ||||||
13,154 | Groupe Partouche SA(b) | 15,071 | ||||||
11,400 | Groupe Steria SCA | 168,298 | ||||||
393 | Guerbet | 51,161 | ||||||
5,836 | Haulotte Group SA(b) | 48,804 | ||||||
46,382 | Havas SA | 283,485 | ||||||
23,886 | Hi-Media SA(b) | 55,678 | ||||||
6,307 | ICADE REIT | 581,420 | ||||||
14,838 | Imerys SA | 972,160 | ||||||
145,569 | Ingenico | 9,755,978 | ||||||
1,376 | Interparfums SA | 43,872 | ||||||
1,275 | Ipsen SA | 45,546 | ||||||
173,723 | IPSOS(d) | 5,822,568 | ||||||
6,240 | Jacquet Metal Service | 71,700 | ||||||
27,960 | JCDecaux SA | 768,474 | ||||||
34,994 | Klepierre REIT | 1,483,949 | ||||||
2,912 | Korian | 63,622 | ||||||
33,822 | Lagardere SCA | 1,256,972 | ||||||
936 | Laurent-Perrier | 75,809 | ||||||
1,354 | Lectra | 8,470 | ||||||
1,715 | LISI | 192,904 | ||||||
735 | Maisons France Confort | 21,285 | ||||||
3,691 | Manitou BF SA | 52,886 | ||||||
467 | Manutan International | 17,466 | ||||||
11,766 | Maurel & Prom Nigeria SA(b) | 54,698 | ||||||
320,651 | Medica SA(d) | 5,937,278 | ||||||
174,986 | Mersen(d) | 4,044,361 | ||||||
2,556 | METabolic EXplorer SA(b) | 8,920 | ||||||
6,297 | Metropole Television SA | 105,402 | ||||||
437 | Montupet | 8,310 | ||||||
1,975 | Mr Bricolage | 23,851 | ||||||
1,519 | Naturex | 117,906 | ||||||
186,712 | Neopost SA | 12,280,999 | ||||||
189,055 | Nexans SA | 8,675,571 | ||||||
9,928 | Nexity SA | 356,939 | ||||||
23,253 | NicOx SA(b) | 79,467 | ||||||
873 | Norbert Dentressangle SA | 67,832 | ||||||
7,604 | NRJ Group | 57,481 | ||||||
17,460 | Oeneo(c) | 62,773 | ||||||
7,755 | Orpea | 337,027 | ||||||
19,387 | PagesJaunes Groupe(b) | 40,851 | ||||||
1,855 | Parrot SA(b) | 47,564 | ||||||
69,154 | Peugeot SA(b) | 553,720 | ||||||
1,004 | Pierre & Vacances SA | 18,934 | ||||||
9,912 | Plastic Omnium SA | 483,897 | ||||||
9,806 | Rallye SA | 387,808 | ||||||
14,085 | Recylex SA(b) | 54,720 | ||||||
5,662 | Remy Cointreau SA | 659,236 |
Shares | Value | |||||||
FRANCE (continued) | ||||||||
92,477 | Rexel SA | $ | 2,034,462 | |||||
159,079 | Rubis SCA(d) | 10,220,417 | ||||||
4,800 | Sa des Ciments Vicat | 284,461 | ||||||
7,206 | Saft Groupe SA | 177,367 | ||||||
1,023 | Sartorius Stedim Biotech | 144,963 | ||||||
135,370 | SCOR SE | 4,108,361 | ||||||
7,643 | SEB SA | 554,003 | ||||||
1,217 | Seche Environnement SA | 48,306 | ||||||
5,884 | Sechilienne-Sidec | 108,408 | ||||||
3,254 | Sequana SA(b) | 23,955 | ||||||
7,940 | Societe BIC SA | 847,297 | ||||||
7,186 | Societe d’Edition de Canal + | 50,252 | ||||||
3,179 | Societe Immobiliere de Location pour l’Industrie et le Commerce REIT | 374,323 | ||||||
696 | Societe Internationale de Plantations d’Heveas SA | 55,894 | ||||||
40,446 | Societe Television Francaise 1 | 427,881 | ||||||
60,657 | SOITEC(b) | 219,676 | ||||||
806 | Somfy SA | 178,326 | ||||||
1,699 | Sopra Group SA | 130,782 | ||||||
243 | Spir Communication(b) | 3,248 | ||||||
101 | Stallergenes SA | 6,496 | ||||||
2,498 | Ste Industrielle d’Aviation Latecoere SA(b) | 26,417 | ||||||
1,492 | STEF | 78,006 | ||||||
28,979 | Suez Environnement Co. | 416,177 | ||||||
1,654 | Sword Group | 26,378 | ||||||
1,013 | Synergie SA | 11,286 | ||||||
18,742 | Technicolor SA(b) | 77,749 | ||||||
15,897 | Teleperformance SA | 699,666 | ||||||
155 | Tessi SA | 17,351 | ||||||
26,644 | Thales SA | 1,157,230 | ||||||
16,096 | Theolia SA(b) | 28,193 | ||||||
82 | Thermador Groupe | 6,177 | ||||||
440 | Touax SA | 10,112 | ||||||
1,421 | Transgene SA(b) | 16,880 | ||||||
2,866 | Trigano SA(b) | 36,310 | ||||||
41,685 | UBISOFT Entertainment(b) | 464,978 | ||||||
694 | Union Financiere de France BQE SA | 15,263 | ||||||
34,483 | Valeo SA | 2,002,687 | ||||||
29,268 | Vallourec SA | 1,406,682 | ||||||
38,306 | Veolia Environnement SA | 527,929 | ||||||
602 | Vetoquinol SA | 21,208 | ||||||
1,404 | Viel et Co. | 4,401 | ||||||
808 | Vilmorin & Cie | 103,217 | ||||||
1,445 | Virbac SA | 294,964 | ||||||
107 | VM Materiaux SA | 2,078 | ||||||
1,131 | Vranken - Pommery Monopole SA | 30,460 | ||||||
11,613 | Zodiac Aerospace | 1,455,506 | ||||||
119,934,463 | ||||||||
GABON — 0.0% | ||||||||
55 | Total Gabon | 33,680 |
16 |
|
Old Westbury Funds, Inc. | |
Global Small & Mid Cap Fund | |
Portfolio of Investments - ( C ontinued) | April 30, 2013 |
(Unaudited) |
Shares | Value | |||||||
GERMANY — 2.5% | ||||||||
11,132 | Aareal Bank AG(b) | $ | 267,550 | |||||
37,576 | ADVA Optical Networking SE(b) | 180,573 | ||||||
10,093 | Air Berlin Plc(b) | 29,934 | ||||||
18,603 | Aixtron SE | 265,327 | ||||||
1,088 | Alba SE(d) | 89,553 | ||||||
961 | Allgeier SE | 15,371 | ||||||
5,308 | Alstria Office REIT AG | 64,311 | ||||||
67 | Amadeus Fire AG | 3,988 | ||||||
640 | AS Creation Tapeten | 37,549 | ||||||
15,525 | Aurubis AG | 975,810 | ||||||
9,222 | Axel Springer AG | 388,637 | ||||||
8,917 | Balda AG | 50,637 | ||||||
1,501 | Bauer AG | 42,984 | ||||||
4,404 | BayWa AG | 221,525 | ||||||
10,613 | Bechtle AG | 469,620 | ||||||
1,967 | Bertrandt AG | 226,249 | ||||||
125 | Bijou Brigitte AG | 12,503 | ||||||
104,338 | Bilfinger SE | 10,456,747 | ||||||
1,210 | Biotest AG | 94,176 | ||||||
23,015 | Borussia Dortmund GmbH & Co. KGaA | 99,355 | ||||||
5,031 | Brenntag AG | 857,681 | ||||||
3,419 | CANCOM SE | 74,541 | ||||||
16,674 | Carl Zeiss Meditec AG | 510,653 | ||||||
10,615 | Celesio AG | 210,041 | ||||||
2,761 | CENIT AG | 33,634 | ||||||
8,279 | CENTROTEC Sustainable AG | 171,505 | ||||||
3,390 | Cewe Color Holding AG | 147,774 | ||||||
17,476 | Comdirect Bank AG | 184,604 | ||||||
869 | CompuGroup Medical AG | 20,039 | ||||||
7,207 | Constantin Medien AG(b) | 14,692 | ||||||
5,227 | COR&FJA AG(b) | 5,844 | ||||||
7,800 | CropEnergies AG | 60,092 | ||||||
6,999 | CTS Eventim AG | 270,298 | ||||||
7,898 | DAB Bank AG | 38,381 | ||||||
2,014 | Delticom AG | 98,932 | ||||||
3,806 | Deutsche Beteiligungs AG | 92,402 | ||||||
29,358 | Deutsche Lufthansa AG | 586,905 | ||||||
11,565 | Deutsche Wohnen AG | 203,937 | ||||||
33,396 | Deutz AG(b) | 180,673 | ||||||
20,474 | Dialog Semiconductor Plc(b) | 243,208 | ||||||
2,601 | Dr Hoenle AG | 38,793 | ||||||
570 | Draegerwerk AG & Co. KGaA | 60,653 | ||||||
17,862 | Drillisch AG | 360,848 | ||||||
7,490 | Duerr AG | 854,969 | ||||||
4,400 | DVB Bank SE(d) | 139,070 | ||||||
909 | Eckert & Ziegler AG | 34,297 | ||||||
9,177 | Elmos Semiconductor AG | 95,477 | ||||||
216,951 | ElringKlinger AG(d) | 7,081,415 | ||||||
1,475 | Envitec Biogas AG(b) | 15,054 | ||||||
4,231 | Euromicron AG | 84,695 | ||||||
42,200 | Evotec AG(b) | 151,220 | ||||||
99,922 | Fielmann AG(d) | 9,654,929 | ||||||
2,910 | First Sensor AG(b) | 29,547 |
Shares | Value | |||||||
GERMANY (continued) | ||||||||
31,432 | Fraport AG Frankfurt Airport Services Worldwide | $ | 1,878,477 | |||||
51,919 | Freenet AG | 1,292,967 | ||||||
5,957 | Fuchs Petrolub AG | 455,014 | ||||||
127,975 | GEA Group AG | 4,328,866 | ||||||
3,293 | Generali Deutschland Holding AG | 440,177 | ||||||
6,004 | Gerresheimer AG | 342,807 | ||||||
7,035 | Gerry Weber International AG | 308,562 | ||||||
2,345 | Gesco AG | 248,357 | ||||||
123,955 | GFK SE(d) | 7,073,302 | ||||||
5,545 | GFT Technologies AG | 25,851 | ||||||
8,519 | Gigaset AG(b) | 10,490 | ||||||
33,550 | Gildemeister AG | 756,204 | ||||||
5,876 | Grammer AG | 186,495 | ||||||
3,340 | Grenkeleasing AG | 267,876 | ||||||
5,192 | H&R AG | 63,193 | ||||||
4,973 | Hamborner AG REIT | 48,549 | ||||||
3,184 | Hamburger Hafen und Logistik AG | 68,516 | ||||||
21,554 | Hannover Rueckversicherung SE | 1,820,081 | ||||||
656 | Hansa Group AG | 2,764 | ||||||
1,410 | Hawesko Holding AG | 77,526 | ||||||
64,186 | Heidelberger Druckmaschinen AG(b) | 140,742 | ||||||
24,960 | Hochtief AG(b) | 1,732,306 | ||||||
2,809 | Homag Group AG(b) | 52,900 | ||||||
9,773 | Indus Holding AG | 322,922 | ||||||
502 | Init Innovation In Traffic Systems AG | 16,065 | ||||||
8,503 | Intershop Communications AG(b) | 18,488 | ||||||
2,380 | Isra Vision AG | 104,201 | ||||||
2,131 | IVG Immobilien AG(b) | 1,790 | ||||||
17,344 | Jenoptik AG | 198,924 | ||||||
9,968 | Kabel Deutschland Holding AG | 947,402 | ||||||
35,496 | Kloeckner & Co. SE(b) | 427,824 | ||||||
4,129 | Koenig & Bauer AG(b) | 99,564 | ||||||
17,251 | Kontron AG | 93,578 | ||||||
11,627 | Krones AG | 808,636 | ||||||
210 | KSB AG(d) | 130,536 | ||||||
4,386 | KUKA AG(b) | 198,122 | ||||||
1,466 | KWS Saat AG | 548,942 | ||||||
61,859 | Lanxess AG | 4,505,028 | ||||||
798 | Leifheit AG | 31,775 | ||||||
26,280 | Leoni AG | 1,186,308 | ||||||
4,150 | Loewe AG(b) | 12,297 | ||||||
2,194 | LPKF Laser & Electronics AG | 57,802 | ||||||
141 | Manz AG(b) | 4,819 | ||||||
5,154 | Medigene AG(b) | 5,369 | ||||||
13,301 | MLP AG | 94,415 | ||||||
408 | Mobotix AG | 8,205 | ||||||
9,415 | Morphosys AG(b) | 427,583 | ||||||
144,314 | MTU Aero Engines Holding AG | 13,653,507 |
17 |
|
Old Westbury Funds, Inc. | |
Global Small & Mid Cap Fund | |
Portfolio of Investments - ( C ontinued) | April 30, 2013 |
(Unaudited) |
Shares | Value | |||||||
GERMANY (continued) | ||||||||
384 | Muehlbauer Holding AG & Co. KGaA | $ | 10,615 | |||||
3,842 | MVV Energie AG | 113,540 | ||||||
1,551 | Nemetschek AG | 91,089 | ||||||
2,244 | Nexus AG | 26,745 | ||||||
3,272 | Nordex SE(b) | 24,600 | ||||||
281,883 | NORMA Group AG(d) | 9,943,287 | ||||||
1,021 | OHB AG | 21,964 | ||||||
9,199 | Patrizia Immobilien AG(b) | 93,149 | ||||||
1,728 | Pfeiffer Vacuum Technology AG | 209,910 | ||||||
19,644 | PNE Wind AG | 69,875 | ||||||
21,193 | Praktiker AG(b) | 30,952 | ||||||
375 | Progress-Werk Oberkirch AG | 16,791 | ||||||
1,296 | PSI AG Gesellschaft Fuer Produkte und Systeme der Informationstechnologie | 27,138 | ||||||
2,224 | Puma SE | 688,877 | ||||||
1,608 | PVA TePla AG | 4,417 | ||||||
75,197 | QSC AG | 242,625 | ||||||
870 | R Stahl AG | 40,674 | ||||||
19,877 | Rational AG(d) | 6,163,380 | ||||||
42,668 | Rheinmetall AG | 2,020,932 | ||||||
32,486 | Rhoen Klinikum AG | 693,931 | ||||||
12,812 | SAF-Holland SA(b) | 106,417 | ||||||
6,334 | Salzgitter AG | 247,911 | ||||||
819 | Schaltbau Holding AG | 40,388 | ||||||
2,061 | Sedo Holding AG(b)(d) | 5,760 | ||||||
22,668 | SGL Carbon SE | 774,079 | ||||||
19,326 | Singulus Technologies AG(b) | 32,069 | ||||||
14,802 | Sixt AG | 321,077 | ||||||
1,851 | SKW Stahl-Metallurgie Holding AG | 30,593 | ||||||
113,539 | Sky Deutschland AG(b) | 651,182 | ||||||
97 | SMA Solar Technology AG | 2,402 | ||||||
361 | SMT Scharf AG | 11,358 | ||||||
19,961 | Software AG | 697,806 | ||||||
8,494 | Solarworld AG | 7,830 | ||||||
18,322 | Stada Arzneimittel AG | 741,972 | ||||||
904 | STINAG Stuttgart Invest AG(d) | 18,846 | ||||||
664 | STRACTEC Biomedical AG | 29,919 | ||||||
159 | Stroeer Media AG(b) | 1,534 | ||||||
66,797 | Suedzucker AG | 2,692,711 | ||||||
21,586 | Suss Microtec AG(b) | 247,037 | ||||||
617,282 | Symrise AG(d) | 26,338,926 | ||||||
30,278 | TAG Immobilien AG | 366,847 | ||||||
9,742 | Takkt AG | 162,553 | ||||||
1,753 | Telegate AG | 18,859 | ||||||
2,222 | Tipp24 SE(b) | 129,019 | ||||||
762 | Tom Tailor Holding AG | 16,242 | ||||||
4,964 | Tomorrow Focus AG | 27,326 | ||||||
22,446 | TUI AG(b) | 237,842 | ||||||
34,543 | United Internet AG | 946,222 | ||||||
2,043 | Verbio AG(b) | 2,793 | ||||||
4,342 | Vossloh AG | 474,611 | ||||||
4,343 | VTG AG | 81,274 |
Shares | Value | |||||||
GERMANY (continued) | ||||||||
3,635 | Wacker Chemie AG | $ | 277,748 | |||||
17,355 | Wacker Neuson SE | 254,841 | ||||||
62 | Washtec AG(b) | 869 | ||||||
1,012 | Wincor Nixdorf AG | 53,257 | ||||||
23,037 | Wirecard AG | 618,361 | ||||||
166 | XING AG | 8,471 | ||||||
275 | zooplus AG(b) | 15,176 | ||||||
139,351,945 | ||||||||
GIBRALTAR — 0.0% | ||||||||
23,380 | 888 Holdings Plc | 61,739 | ||||||
176,819 | Bwin.Party Digital Entertainment Plc | 366,948 | ||||||
428,687 | ||||||||
GREECE — 0.1% | ||||||||
811 | Aegean Airlines SA(b) | 2,563 | ||||||
96 | Alapis Holding Industrial and Commercial SA of Pharmaceutical Chemical Products(b)(c)(d) | 5 | ||||||
147,872 | Alpha Bank AE(b) | 187,145 | ||||||
1,098 | Astir Palace Hotel SA(b) | 5,611 | ||||||
2,153 | Athens Water Supply & Sewage Co. SA (The) | 16,133 | ||||||
7,424 | Bank of Greece | 131,990 | ||||||
57,616 | Ellaktor SA(b) | 157,066 | ||||||
3,374 | Folli Follie Group(b) | 70,561 | ||||||
1,869 | Forthnet SA(b) | 903 | ||||||
5,815 | Fourlis Holdings SA(b) | 15,929 | ||||||
10,782 | Frigoglass SA(b) | 71,707 | ||||||
17,301 | GEK Terna Holding Real Estate Construction SA(b) | 46,253 | ||||||
10,539 | Hellenic Exchanges SA Holding Clearing Settlement and Registry | 70,646 | ||||||
28,693 | Hellenic Petroleum SA | 317,413 | ||||||
19,670 | Hellenic Telecommunications Organization SA(b) | 170,969 | ||||||
31,091 | Intralot SA-Integrated Lottery Systems & Services | 85,166 | ||||||
13,884 | JUMBO SA | 130,734 | ||||||
2,599 | Lamda Development SA(b) | 17,045 | ||||||
6,590 | Metka SA | 100,065 | ||||||
5,531 | Motor Oil (Hellas) Corinth Refineries SA | 61,040 | ||||||
26,955 | Mytilineos Holdings SA(b) | 166,842 | ||||||
266,494 | National Bank of Greece SA(b) | 222,859 | ||||||
1,037 | OPAP SA | 10,229 | ||||||
232,638 | Piraeus Bank SA(b) | 64,951 | ||||||
618 | Piraeus Port Authority | 15,537 | ||||||
22,848 | Proton Bank SA(b)(c)(d) | 0 | ||||||
7,731 | Public Power Corp. SA(b) | 74,935 | ||||||
1,978 | S&B Industrial Minerals SA | 15,109 | ||||||
5,302 | Sarantis SA(b) | 31,770 | ||||||
12,534 | T Bank SA(b)(c)(d) | 0 | ||||||
3,630 | Teletypos SA Mega Channel(b) | 975 |
18 |
|
Old Westbury Funds, Inc. | |
Global Small & Mid Cap Fund | |
Portfolio of Investments - ( C ontinued) | April 30, 2013 |
(Unaudited) |
Shares | Value | |||||||
GREECE (continued) | ||||||||
5,987 | Terna Energy SA | $ | 26,492 | |||||
647 | Thessaloniki Port Authority SA | 19,350 | ||||||
592 | Titan Cement Co. SA(b) | 10,993 | ||||||
31,091 | TT Hellenic Postbank SA(b)(c)(d) | 0 | ||||||
24,240 | Viohalco Hellenic Copper and Aluminum Industry SA(b) | 149,080 | ||||||
2,468,066 | ||||||||
GUERNSEY — 0.1% | ||||||||
7,397 | Raven Russia Ltd. | 8,388 | ||||||
803,242 | Resolution Ltd. | 3,292,722 | ||||||
86,000 | Tethys Petroleum Ltd.(b) | 69,145 | ||||||
3,370,255 | ||||||||
HONG KONG — 1.5% | ||||||||
220,000 | 361 Degrees International Ltd. | 59,535 | ||||||
66,000 | Ajisen China Holdings Ltd. | 47,628 | ||||||
160,000 | Alco Holdings Ltd. | 32,989 | ||||||
44,000 | Allan International Holdings Ltd. | 14,458 | ||||||
30,000 | Allied Group Ltd.(d) | 105,153 | ||||||
1,753,693 | Allied Properties HK Ltd. | 275,704 | ||||||
7,214,000 | AMVIG Holdings Ltd.(d) | 2,788,864 | ||||||
180,000 | Anxin-China Holdings Ltd. | 37,809 | ||||||
1,540,000 | Apac Resources Ltd.(b) | 29,569 | ||||||
84,000 | APT Satellite Holdings Ltd. | 53,148 | ||||||
144,000 | Asia Financial Holdings Ltd. | 65,318 | ||||||
58,000 | Asia Satellite Telecommunications Holdings Ltd. | 227,960 | ||||||
421,877 | Asia Standard International Group | 78,829 | ||||||
258,000 | Asian Citrus Holdings Ltd. | 109,714 | ||||||
406,500 | ASM Pacific Technology Ltd. | 4,190,641 | ||||||
80,000 | Associated International Hotels Ltd.(d) | 216,491 | ||||||
820,000 | AVIC International Holding HK Ltd.(b) | 34,870 | ||||||
89,000 | Beijing Development HK Ltd.(b) | 19,268 | ||||||
84,000 | Beijing Enterprises Holdings Ltd. | 628,364 | ||||||
1,217,000 | Beijing Enterprises Water Group Ltd. | 368,543 | ||||||
244,000 | Beijing Properties Holdings Ltd.(b) | 14,778 | ||||||
504,000 | Bel Global Resources Holdings Ltd.(b)(c)(d) | 0 | ||||||
906,000 | Birmingham International Holdings Ltd.(b)(c)(d) | 17,746 | ||||||
144,000 | Bonjour Holdings Ltd. | 23,381 | ||||||
390,000 | Bosideng International Holdings Ltd. | 102,524 | ||||||
218,000 | Bossini International Holdings Ltd. | 11,658 | ||||||
425,000 | Brightoil Petroleum Holdings Ltd.(b) | 81,055 |
Shares | Value | |||||||
HONG KONG (continued) | ||||||||
668,000 | Brilliance China Automotive Holdings Ltd.(b) | $ | 817,768 | |||||
6,000 | Brilliant Circle Holdings International Ltd. | 3,023 | ||||||
2,064,354 | Brockman Mining Ltd.(b) | 119,709 | ||||||
1,296,000 | Burwill Holdings Ltd.(b) | 21,377 | ||||||
498,791 | C C Land Holdings Ltd. | 167,760 | ||||||
106,000 | Cafe de Coral Holdings Ltd. | 336,707 | ||||||
23,000 | Carnival Group International Holdings Ltd.(b) | 1,423 | ||||||
718,800 | Century City International Holdings Ltd. | 52,797 | ||||||
240,000 | Century Sunshine Group Holdings Ltd. | 24,742 | ||||||
1,590,446 | Champion Technology Holdings Ltd. | 24,184 | ||||||
276,560 | Chaoda Modern Agriculture Holdings Ltd.(b)(d) | 13,828 | ||||||
835,000 | Chaoyue Group Ltd.(b) | 39,812 | ||||||
180,000 | Chen Hsong Holdings | 60,540 | ||||||
117,988 | Cheuk Nang Holdings Ltd. | 92,442 | ||||||
80,000 | Chevalier International Holdings Ltd. | 129,276 | ||||||
888,000 | Chigo Holding Ltd.(b) | 25,175 | ||||||
684,000 | China Aerospace International Holdings Ltd. | 73,158 | ||||||
648,137 | China Agri-Industries Holdings Ltd. | 318,216 | ||||||
136,000 | China All Access Holdings Ltd. | 41,886 | ||||||
2,392,000 | China Billion Resources Ltd.(b)(c)(d) | 0 | ||||||
336,000 | China Chengtong Development Group Ltd.(b) | 11,907 | ||||||
1,436,000 | China Daye Non-Ferrous Metals Mining Ltd.(b) | 40,896 | ||||||
120,000 | China Electronics Corp. Holdings Co. Ltd.(b) | 17,165 | ||||||
386,000 | China Energine International Holdings Ltd.(b) | 17,409 | ||||||
110,000 | China Energy Development Holdings Ltd.(b) | 1,559 | ||||||
480,000 | China Environmental Investment Holdings Ltd.(b) | 18,556 | ||||||
4,028,000 | China Everbright International Ltd. | 3,109,182 | ||||||
296,000 | China Everbright Ltd. | 470,692 | ||||||
140,000 | China Financial Services Holdings Ltd.(b) | 11,546 | ||||||
76,936 | China Flavors & Fragrances Co. Ltd.(b)(d) | 10,212 | ||||||
322,000 | China Foods Ltd. | 164,316 | ||||||
952,000 | China Gas Holdings Ltd. | 938,487 | ||||||
238,000 | China Glass Holdings Ltd. | 32,203 | ||||||
159,000 | China Green Holdings Ltd.(b) | 22,128 | ||||||
608,000 | China Haidian Holdings Ltd. | 66,597 | ||||||
6,603,000 | China High Precision Automation Group Ltd.(c)(d) | 1,038,080 |
19 |
|
Old Westbury Funds, Inc. | |
Global Small & Mid Cap Fund | |
Portfolio of Investments - ( C ontinued) | April 30, 2013 |
(Unaudited) |
Shares | Value | |||||||
HONG KONG (continued) | ||||||||
467,000 | China High Speed Transmission Equipment Group Co. Ltd.(b) | $ | 225,672 | |||||
870,000 | China Household Holdings Ltd.(b) | 72,872 | ||||||
1,002,000 | China Infrastructure Investment Ltd.(b) | 19,368 | ||||||
8,918,000 | China Lumena New Materials Corp. | 1,942,156 | ||||||
367,000 | China Mengniu Dairy Co. Ltd. | 1,033,350 | ||||||
136,147 | China Merchants Holdings International Co. Ltd. | 430,714 | ||||||
216,000 | China Metal International Holdings, Inc. | 54,834 | ||||||
193,200 | China Metal Recycling Holdings Ltd.(c)(d) | 234,773 | ||||||
1,770,000 | China Mining Resources Group Ltd.(b) | 13,685 | ||||||
492,557 | China New Town Development Co. Ltd.(b) | 38,718 | ||||||
24,000 | China Nuclear Industry 23 International Corp. Ltd.(b) | 4,515 | ||||||
4,700 | China Ocean Resources Co. Ltd.(b) | 13,251 | ||||||
1,060,000 | China Oil and Gas Group Ltd.(b) | 193,965 | ||||||
1,065,000 | China Outdoor Media Group Ltd.(b) | 7,685 | ||||||
421,500 | China Overseas Grand Oceans Group Ltd. | 662,655 | ||||||
460,000 | China Power International Development Ltd. | 165,976 | ||||||
600,000 | China Power New Energy Development Co. Ltd.(b) | 34,020 | ||||||
430,000 | China Precious Metal Resources Holdings Co. Ltd.(b) | 73,697 | ||||||
244,000 | China Properties Group Ltd.(b) | 60,684 | ||||||
308,000 | China Public Procurement Ltd.(b) | 16,868 | ||||||
4,844,000 | China Renji Medical Group Ltd.(b) | 19,975 | ||||||
3,700,000 | China Resources and Transportation Group Ltd.(b) | 140,654 | ||||||
392,000 | China Resources Cement Holdings Ltd. | 225,800 | ||||||
246,000 | China Resources Enterprise Ltd. | 843,231 | ||||||
120,800 | China Resources Gas Group Ltd. | 338,576 | ||||||
2,615,600 | China Singyes Solar Technologies Holdings Ltd. | 2,268,382 | ||||||
1,230,000 | China South City Holdings Ltd. | 209,223 | ||||||
535,000 | China Starch Holdings Ltd. | 14,616 | ||||||
275,440 | China State Construction International Holdings Ltd. | 401,084 | ||||||
970,000 | China Strategic Holdings Ltd.(b) | 16,250 | ||||||
364,400 | China Taiping Insurance Holdings Co. Ltd.(b) | 620,783 | ||||||
8,000 | China Tianyi Holdings Ltd. | 1,031 |
Shares | Value | |||||||
HONG KONG (continued) | ||||||||
296,000 | China Ting Group Holdings Ltd. | $ | 19,072 | |||||
1,162,000 | China Travel International Investment Hong Kong Ltd. | 236,588 | ||||||
230,000 | China Vanadium Titano - Magnetite Mining Co. Ltd. | 55,128 | ||||||
52,000 | China Water Affairs Group Ltd. | 15,613 | ||||||
1,350,000 | China WindPower Group Ltd. | 52,190 | ||||||
57,000 | Chong Hing Bank Ltd. | 151,312 | ||||||
108,000 | Chow Sang Sang Holdings International Ltd. | 292,262 | ||||||
198,000 | Chu Kong Shipping Enterprise Group Co. Ltd. | 37,762 | ||||||
64,000 | Chuang’s China Investments Ltd. | 4,124 | ||||||
385,500 | Chuang’s Consortium International Ltd.(b) | 49,180 | ||||||
90,000 | CIMC Enric Holdings Ltd. | 97,421 | ||||||
62,000 | Citic 21CN Co. Ltd.(b) | 3,436 | ||||||
412,000 | Citic Pacific Ltd. | 498,532 | ||||||
1,237,000 | Citic Resources Holdings Ltd.(b) | 156,216 | ||||||
258,000 | Citic Telecom International Holdings Ltd. | 93,756 | ||||||
1,018,000 | CK Life Sciences International Holdings, Inc. | 89,204 | ||||||
68,000 | Clear Media Ltd. | 49,071 | ||||||
118,000 | Coastal Greenland Ltd.(b) | 7,223 | ||||||
336,387 | Comba Telecom Systems Holdings Ltd. | 114,872 | ||||||
8,000 | Convenience Retail Asia Ltd. | 5,649 | ||||||
156,000 | Cosco International Holdings Ltd. | 66,138 | ||||||
349,897 | COSCO Pacific Ltd. | 463,514 | ||||||
380,000 | Cosmos Machinery Enterprises Ltd.(d) | 27,912 | ||||||
1,010,000 | CP Lotus Corp.(b) | 29,284 | ||||||
1,238,000 | CP Pokphand Co. | 132,412 | ||||||
42,000 | Cross-Harbour Holdings Ltd. | 35,504 | ||||||
1,689,335 | CSI Properties Ltd. | 79,458 | ||||||
424,000 | CSPC Pharmaceutical Group Ltd.(b) | 204,347 | ||||||
208,000 | CST Mining Group Ltd.(b) | 2,707 | ||||||
37,600 | Culture Landmark Investment Ltd.(b) | 2,810 | ||||||
155,000 | Culturecom Holdings Ltd.(b) | 33,756 | ||||||
183,000 | DaChan Food Asia Ltd. | 23,110 | ||||||
79,000 | Dah Chong Hong Holdings Ltd. | 72,789 | ||||||
187,440 | Dah Sing Banking Group Ltd. | 275,841 | ||||||
62,650 | Dah Sing Financial Holdings Ltd. | 328,987 | ||||||
218,000 | Dan Form Holdings Co. Ltd. | 26,126 | ||||||
132,000 | Dawnrays Pharmaceutical Holdings Ltd. | 39,803 | ||||||
244,000 | DBA Telecommunication Asia Holdings Ltd. | 147,152 | ||||||
160,550 | Dickson Concepts International Ltd. | 85,446 |
20 |
|
Old Westbury Funds, Inc. | |
Global Small & Mid Cap Fund | |
Portfolio of Investments - ( C ontinued) | April 30, 2013 |
(Unaudited) |
Shares | Value | |||||||
HONG KONG (continued) | ||||||||
139,000 | Digital China Holdings Ltd. | $ | 175,180 | |||||
275,000 | Dingyi Group Investment Ltd.(b) | 13,466 | ||||||
104,000 | DMX Technologies Group Ltd. | 20,265 | ||||||
88,000 | Dorsett Hospitality International Ltd. | 24,268 | ||||||
108,000 | Dynasty Fine Wines Group Ltd.(b)(c)(d) | 20,041 | ||||||
64,000 | EcoGreen Fine Chemicals Group Ltd. | 12,536 | ||||||
168,234 | EganaGoldpfeil Holdings Ltd.(b)(c)(d) | 0 | ||||||
62,000 | Embry Holdings Ltd. | 33,157 | ||||||
264,000 | Emperor Capital Group Ltd. | 12,077 | ||||||
325,000 | Emperor Entertainment Hotel Ltd. | 98,838 | ||||||
500,416 | Emperor International Holdings Ltd. | 139,933 | ||||||
42,840,000 | Emperor Watch & Jewellery Ltd.(d) | 4,361,204 | ||||||
950,000 | EPI Holdings Ltd.(b) | 38,562 | ||||||
789,100 | Esprit Holdings Ltd. | 1,106,346 | ||||||
504,000 | eSun Holdings Ltd.(b) | 81,184 | ||||||
596,000 | EVA Precision Industrial Holdings Ltd. | 102,916 | ||||||
9,500 | Fairwood Ltd. | 20,273 | ||||||
478,273 | Far East Consortium International Ltd. | 153,463 | ||||||
576,000 | First Pacific Co. Ltd. | 797,180 | ||||||
598,000 | Fook Woo Group Holdings Ltd.(b)(c)(d) | 104,802 | ||||||
402,982 | Fortune Oil Plc | 50,203 | ||||||
302,000 | Fountain SET Holdings Ltd.(b) | 37,360 | ||||||
1,170,000 | Franshion Properties China Ltd. | 399,541 | ||||||
195,600 | Fufeng Group Ltd. | 70,324 | ||||||
1,643,000 | GCL-Poly Energy Holdings Ltd. | 332,405 | ||||||
490,000 | Geely Automobile Holdings Ltd. | 246,258 | ||||||
498,000 | Genting Hong Kong Ltd.(b)(d) | 240,653 | ||||||
1,444,000 | Get Nice Holdings Ltd. | 66,988 | ||||||
456,000 | Giordano International Ltd. | 455,991 | ||||||
1,839,200 | Global Bio-Chem Technology Group Co. Ltd. | 158,794 | ||||||
128,000 | Global Sweeteners Holdings Ltd.(b) | 8,247 | ||||||
979,000 | Glorious Property Holdings Ltd.(b) | 152,650 | ||||||
168,000 | Glorious Sun Enterprises Ltd. | 50,009 | ||||||
220,000 | Gold Peak Industries Holding Ltd.(d) | 24,381 | ||||||
220,000 | Goldbond Group Holdings Ltd.(b) | 7,796 | ||||||
684,000 | Golden Meditech Holdings Ltd. | 80,210 | ||||||
140,000 | Goldin Properties Holdings Ltd.(b) | 80,102 | ||||||
98,000 | Goldlion Holdings Ltd. | 51,651 | ||||||
3,926,600 | GOME Electrical Appliances Holdings Ltd.(b) | 394,676 |
Shares | Value | |||||||
HONG KONG (continued) | ||||||||
16,000 | Good Friend International Holdings, Inc. | $ | 5,464 | |||||
219,960 | Great Eagle Holdings Ltd. | 932,544 | ||||||
6,885,000 | G-Resources Group Ltd.(b) | 323,837 | ||||||
924,000 | Guangdong Investment Ltd. | 894,215 | ||||||
184,000 | Guangnan Holdings Ltd. | 21,340 | ||||||
116,000 | Guotai Junan International Holdings Ltd. | 48,880 | ||||||
61,000 | Haier Electronics Group Co. Ltd.(b) | 108,949 | ||||||
226,738 | Haitong International Securities Group Ltd. | 95,251 | ||||||
2,658,000 | Hanergy Solar Group Ltd.(b) | 191,811 | ||||||
468,000 | Hao Tian Resources Group Ltd.(b) | 25,631 | ||||||
114,000 | Harbour Centre Development Ltd.(d) | 232,403 | ||||||
2,439,359 | Heng Tai Consumables Group Ltd.(b) | 50,295 | ||||||
834,000 | Hengdeli Holdings Ltd. | 242,887 | ||||||
483,000 | Hi Sun Technology (China) Ltd.(b) | 56,017 | ||||||
1,318,035 | HKC Holdings Ltd. | 44,160 | ||||||
318,000 | HKR International Ltd. | 158,997 | ||||||
186,000 | Hon Kwok Land Investment Co. Ltd. | 80,295 | ||||||
5,200 | Hong Kong Aircraft Engineering Co. Ltd. | 74,983 | ||||||
50,000 | Hong Kong Ferry (Holdings) Co. Ltd. | 54,960 | ||||||
227,000 | Hong Kong Television Network Ltd. | 68,742 | ||||||
310,151 | Hongkong & Shanghai Hotels (The) | 504,385 | ||||||
727,700 | Hongkong Chinese Ltd. | 142,536 | ||||||
102,500 | Hopewell Highway Infrastructure Ltd. | 50,589 | ||||||
279,000 | Hopewell Holdings Ltd. | 1,078,587 | ||||||
220,000 | Hopson Development Holdings Ltd.(b) | 366,849 | ||||||
376,000 | Hsin Chong Construction Group Ltd. | 54,752 | ||||||
254,400 | Hua Han Bio-Pharmaceutical Holdings Ltd. | 82,285 | ||||||
181,000 | Huabao International Holdings Ltd. | 83,034 | ||||||
536,000 | Huafeng Group Holdings Ltd.(b) | 13,952 | ||||||
259,631 | Hung Hing Printing Group Ltd. | 42,825 | ||||||
524,000 | Huscoke Resources Holdings Ltd.(b) | 6,752 | ||||||
1,402,000 | Hutchison Harbour Ring Ltd. | 113,820 | ||||||
1,441,000 | Hutchison Telecommunications Hong Kong Holdings Ltd. | 768,766 | ||||||
16,000 | Hycomm Wireless Ltd.(b) | 3,402 | ||||||
67,000 | Hysan Development Co. Ltd. | 331,972 | ||||||
1,768,000 | Imagi International Holdings Ltd.(b) | 19,366 |
21 |
|
Old Westbury Funds, Inc. | |
Global Small & Mid Cap Fund | |
Portfolio of Investments - (Continued) | April 30, 2013 |
(Unaudited) |
Shares | Value | |||||||
HONG KONG (continued) | ||||||||
995,000 | Inspur International Ltd. | $ | 38,466 | |||||
592,500 | Interchina Holdings Co.(b) | 33,213 | ||||||
410,000 | IPE Group Ltd. | 31,172 | ||||||
442,000 | IRC Ltd.(b) | 56,958 | ||||||
398,000 | IT Ltd. | 145,657 | ||||||
99,000 | ITC Properties Group Ltd. | 41,717 | ||||||
72,000 | Jinchuan Group International Resources Co. Ltd.(b) | 13,268 | ||||||
134,000 | Jinhui Holdings Ltd.(b) | 28,837 | ||||||
842,500 | Johnson Electric Holdings Ltd. | 574,322 | ||||||
360,000 | Ju Teng International Holdings Ltd. | 234,274 | ||||||
600,611 | K Wah International Holdings Ltd. | 328,163 | ||||||
1,940,000 | Kai Yuan Holdings Ltd.(b) | 49,749 | ||||||
234,000 | Kam Hing International Holdings Ltd. | 19,600 | ||||||
42,000 | Keck Seng Investments | 21,270 | ||||||
278,000 | King Stone Energy Group Ltd.(b) | 13,076 | ||||||
208,500 | Kingboard Chemical Holdings Ltd. | 566,916 | ||||||
342,500 | Kingboard Laminates Holdings Ltd. | 153,592 | ||||||
196,000 | Kingmaker Footwear Holdings Ltd. | 34,602 | ||||||
1,742,000 | Kingston Financial Group Ltd. | 139,178 | ||||||
206,666 | Kingway Brewery Holdings Ltd. | 82,292 | ||||||
2,280,000 | Ko Yo Chemical Group Ltd.(b) | 29,675 | ||||||
417,000 | Kowloon Development Co. Ltd. | 552,407 | ||||||
368,000 | KWG Property Holding Ltd. | 254,181 | ||||||
2,412,000 | Lai Fung Holdings Ltd. | 59,677 | ||||||
5,146,750 | Lai Sun Development Co. Ltd.(b) | 154,532 | ||||||
520,000 | Lai Sun Garment International Ltd.(b) | 102,524 | ||||||
9,000 | Lam Soon Hong Kong Ltd. | 5,219 | ||||||
116,000 | Le Saunda Holdings Ltd. | 36,025 | ||||||
68,000 | Lee & Man Chemical Co. Ltd. | 31,546 | ||||||
1,271,200 | Lee & Man Paper Manufacturing Ltd. | 945,191 | ||||||
15,000 | Lee’s Pharmaceutical Holdings Ltd. | 10,129 | ||||||
74,000 | Lerado Group Holdings Co. | 8,296 | ||||||
24,500 | Lifestyle International Holdings Ltd. | 54,114 | ||||||
4,995,000 | Lijun International Pharmaceutical Holding Ltd. | 1,551,252 | ||||||
1,924,000 | Lippo China Resources Ltd. | 52,562 | ||||||
102,000 | Lippo Ltd. | 52,051 | ||||||
156,000 | Liu Chong Hing Investment Ltd. | 233,191 | ||||||
62,500 | LK Technology Holdings Ltd. | 11,678 | ||||||
705,600 | Loudong General Nice Resources China Holdings Ltd.(b) | 48,191 |
Shares | Value | |||||||
HONG KONG (continued) | ||||||||
80,000 | L’sea Resources International Holdings Ltd.(b) | $ | 3,505 | |||||
170,000 | Luen Thai Holdings Ltd. | 75,798 | ||||||
54,000 | Luk Fook Holdings International Ltd. | 153,090 | ||||||
84,000 | Luks Group Vietnam Holdings Co. Ltd. | 22,082 | ||||||
98,000 | Lung Kee (Bermuda) Holdings | 40,917 | ||||||
1,658,000 | Magnificent Estates | 96,145 | ||||||
59,200 | Man Wah Holdings Ltd. | 57,597 | ||||||
38,000 | Man Yue Technology Holdings Ltd. | 5,680 | ||||||
580,000 | Mei Ah Entertainment Group Ltd.(b) | 10,015 | ||||||
673,000 | Melco International Development Ltd. | 1,309,549 | ||||||
282,000 | Midland Holdings Ltd. | 130,095 | ||||||
108,000 | MIN XIN Holdings Ltd. | 59,705 | ||||||
92,000 | Ming Fai International Holdings Ltd. | 9,959 | ||||||
1,070,000 | Ming Fung Jewellery Group Ltd.(b) | 39,297 | ||||||
310,000 | Mingfa Group International Co. Ltd. | 95,475 | ||||||
690,000 | Mingyuan Medicare Development Co. Ltd.(b) | 14,227 | ||||||
500,000 | Minmetals Land Ltd. | 71,519 | ||||||
42,000 | Miramar Hotel & Investment Co. Ltd. | 58,885 | ||||||
280,000 | MMG Ltd.(b) | 84,071 | ||||||
243,000 | Mongolia Energy Corp. Ltd.(b) | 10,177 | ||||||
6,221,148 | Nan Hai Corp. Ltd.(b) | 25,654 | ||||||
10,000 | Natural Beauty Bio-Technology Ltd. | 812 | ||||||
262,000 | Neo-Neon Holdings Ltd.(b) | 49,293 | ||||||
69,500 | NetDragon Websoft, Inc. | 102,099 | ||||||
872,000 | New Century Group Hong Kong Ltd. | 17,754 | ||||||
8,000 | New Focus Auto Tech Holdings Ltd.(b) | 722 | ||||||
4,175,000 | New Smart Energy Group Ltd.(b) | 39,812 | ||||||
228,500 | New Times Energy Corp Ltd(b) | 20,906 | ||||||
857,100 | New World China Land Ltd. | 376,631 | ||||||
123,000 | New World Department Store China Ltd. | 63,401 | ||||||
604,000 | Newocean Energy Holdings Ltd. | 376,714 | ||||||
434,000 | Next Media Ltd.(b) | 46,978 | ||||||
335,000 | Nine Dragons Paper Holdings Ltd. | 290,529 | ||||||
260,000 | North Asia Resources Holdings Ltd.(b) | 11,727 | ||||||
1,150,000 | North Mining Shares Co. Ltd.(b) | 56,313 | ||||||
625,000 | Orange Sky Golden Harvest Entertainment Holdings Ltd.(b) | 31,008 |
22 |
|
Old Westbury Funds, Inc. | |
Global Small & Mid Cap Fund | |
Portfolio of Investments - (Continued) | April 30, 2013 |
(Unaudited) |
Shares | Value | |||||||
HONG KONG (continued) | ||||||||
68,500 | Orient Overseas International Ltd. | $ | 406,932 | |||||
291,200 | Oriental Watch Holdings | 94,938 | ||||||
42,000 | Overseas Chinese Town Asia Holdings Ltd. | 21,270 | ||||||
718,164 | Pacific Andes International Holdings Ltd. | 34,704 | ||||||
10,287,000 | Pacific Basin Shipping Ltd.(d) | 5,872,491 | ||||||
236,000 | Pacific Textile Holdings Ltd. | 291,345 | ||||||
323,240 | Paliburg Holdings Ltd. | 109,550 | ||||||
59,000 | PAX Global Technology Ltd.(b) | 12,165 | ||||||
697,000 | PCCW Ltd. | 354,781 | ||||||
48,000 | Peace Mark Holdings Ltd.(b)(c)(d) | 0 | ||||||
477,800 | Pearl Oriental Oil Ltd.(b) | 24,628 | ||||||
296,000 | Phoenix Satellite Television Holdings Ltd. | 112,524 | ||||||
368,000 | Pico Far East Holdings Ltd. | 133,729 | ||||||
990,977 | PNG Resources Holdings Ltd.(b) | 32,564 | ||||||
696,000 | Poly Property Group Co. Ltd.(b) | 485,217 | ||||||
1,200,000 | Polytec Asset Holdings Ltd. | 153,090 | ||||||
109,000 | Ports Design Ltd. | 85,260 | ||||||
927,000 | Pou Sheng International Holdings Ltd.(b) | 53,755 | ||||||
560,000 | Prosperity International Holdings (Hong Kong) Ltd.(b) | 21,649 | ||||||
68,000 | Public Financial Holdings Ltd. | 34,613 | ||||||
2,696,000 | PYI Corp. Ltd. | 66,356 | ||||||
212,000 | Real Nutriceutical Group Ltd. | 56,277 | ||||||
386,200 | Regal Hotels International Holdings Ltd. | 180,654 | ||||||
251,000 | Regent Manner International Holdings Ltd. | 46,900 | ||||||
1,800,000 | REXLot Holdings Ltd. | 148,451 | ||||||
784,000 | Richfield Group Holdings Ltd. | 28,793 | ||||||
96,000 | Rising Development Holdings Ltd.(b) | 4,639 | ||||||
131,625 | Royale Furniture Holdings Ltd. | 10,686 | ||||||
176,000 | SA SA International Holdings Ltd. | 183,254 | ||||||
291,000 | Samson Holding Ltd. | 53,624 | ||||||
92,000 | SEA Holdings Ltd. | 57,262 | ||||||
20,000 | SEEC Media Group Ltd.(b) | 541 | ||||||
155,516 | Shanghai Industrial Holdings Ltd. | 492,992 | ||||||
561,000 | Shanghai Industrial Urban Development Group Ltd.(b) | 113,499 | ||||||
3,660,000 | Shanghai Zendai Property Ltd.(b) | 70,746 | ||||||
150,000 | Shenyin Wanguo HK Ltd. | 53,736 | ||||||
208,000 | Shenzhen High-Tech Holdings Ltd. | 10,319 | ||||||
3,232,500 | Shenzhen International Holdings Ltd. | 420,717 | ||||||
830,380 | Shenzhen Investment Ltd. | 347,768 |
Shares | Value | |||||||
HONG KONG (continued) | ||||||||
339,129 | Shimao Property Holdings Ltd. | $ | 730,687 | |||||
2,048,000 | Shougang Concord International Enterprises Co. Ltd.(b) | 105,565 | ||||||
54,000 | Shougang Concord Technology Holdings(b) | 2,505 | ||||||
1,112,000 | Shougang Fushan Resources Group Ltd. | 434,187 | ||||||
709,750 | Shun Tak Holdings Ltd. | 373,160 | ||||||
102,650 | Silver Base Group Holdings Ltd. | 23,678 | ||||||
444,000 | Silver Grant International Ltd. | 71,519 | ||||||
507,000 | SIM Technology Group Ltd.(b) | 19,273 | ||||||
268,000 | Sing Tao News Corp. Ltd. | 37,644 | ||||||
782,000 | Singamas Container Holdings Ltd. | 191,465 | ||||||
28,000 | Sino Biopharmaceutical | 19,304 | ||||||
100,000 | Sino Distillery Group Ltd.(b) | 7,990 | ||||||
5,760,000 | Sino Oil And Gas Holdings Ltd.(b) | 115,049 | ||||||
656,000 | Sinofert Holdings Ltd. | 142,018 | ||||||
374,250 | Sinolink Worldwide Holdings Ltd.(b) | 29,419 | ||||||
276,000 | Sinopec Kantons Holdings Ltd. | 250,031 | ||||||
488,500 | Sinotrans Shipping Ltd. | 119,605 | ||||||
38,000 | SIS International Holdings | 14,593 | ||||||
477,278 | Skyworth Digital Holdings Ltd. | 393,009 | ||||||
106,910 | SmarTone Telecommunications Holding Ltd. | 190,395 | ||||||
407,934 | SMI Corp. Ltd.(b) | 8,674 | ||||||
84,843 | SOCAM Development Ltd. | 122,233 | ||||||
283,000 | Solargiga Energy Holdings Ltd(b) | 13,493 | ||||||
366,000 | Solomon Systech International Ltd.(b) | 9,999 | ||||||
30,000 | Soundwill Holdings Ltd. | 73,298 | ||||||
696,000 | South China China Ltd.(b)(d) | 71,751 | ||||||
360,000 | Sparkle Roll Group Ltd. | 31,546 | ||||||
1,413,428 | SRE Group Ltd.(b) | 52,820 | ||||||
94,000 | Stella International Holdings Ltd. | 276,786 | ||||||
60,500 | Stelux Holdings International Ltd. | 20,504 | ||||||
204,000 | Success Universe Group Ltd.(b) | 4,732 | ||||||
16,000 | Sun Hing Vision Group Holdings Ltd. | 5,423 | ||||||
321,801 | Sun Hung Kai & Co. Ltd. | 225,173 | ||||||
1,430,000 | Sun Innovation Holdings Ltd.(b) | 26,167 | ||||||
1,347,000 | Superb Summit International Group Ltd.(b) | 56,413 | ||||||
435,000 | Sustainable Forest Holdings Ltd.(b) | 2,971 | ||||||
302,000 | TAI Cheung Holdings Ltd. | 241,284 | ||||||
174,000 | Tak Sing Alliance Holdings Ltd. | 26,234 | ||||||
720,000 | Talent Property Group Ltd.(b) | 14,196 | ||||||
6,000 | Tan Chong International Ltd. | 1,856 | ||||||
6,000 | Tao Heung Holdings Ltd. | 3,789 |
23 |
|
Old Westbury Funds, Inc. | |
Global Small & Mid Cap Fund | |
Portfolio of Investments - (Continued) | April 30, 2013 |
(Unaudited) |
Shares | Value | |||||||
HONG KONG (continued) | ||||||||
394,000 | TCC International Holdings Ltd. | $ | 112,207 | |||||
367,000 | TCL Communication Technology Holdings Ltd. | 147,554 | ||||||
152,000 | TCL Multimedia Technology Holdings Ltd. | 137,307 | ||||||
183,500 | Techtronic Industries Co. | 438,405 | ||||||
61,000 | Television Broadcasts Ltd. | 459,456 | ||||||
108,000 | Texhong Textile Group Ltd. | 125,255 | ||||||
272,000 | Texwinca Holdings Ltd. | 317,561 | ||||||
185,800 | Tian An China Investment Co. Ltd. | 130,967 | ||||||
106,000 | Tianjin Development Holdings Ltd.(b) | 70,756 | ||||||
730,000 | Tianjin Port Development Holdings Ltd. | 104,418 | ||||||
466,000 | Tianneng Power International Ltd. | 294,847 | ||||||
2,380,000 | Titan Petrochemicals Group Ltd.(b)(c)(d) | 767 | ||||||
218,000 | Tom Group Ltd.(b) | 24,440 | ||||||
256,252 | Tomson Group Ltd. | 69,675 | ||||||
1,740,000 | Tongda Group Holdings Ltd. | 106,506 | ||||||
276,000 | Town Health International Investments Ltd.(b) | 17,072 | ||||||
203,000 | Towngas China Co. Ltd. | 195,148 | ||||||
374,000 | TPV Technology Ltd. | 96,872 | ||||||
154,000 | Tradelink Electronic Commerce Ltd. | 33,935 | ||||||
87,600 | Transport International Holdings Ltd. | 197,548 | ||||||
118,000 | Trinity Ltd. | 46,530 | ||||||
394,000 | Truly International Holdings Ltd. | 210,197 | ||||||
128,000 | TSC Group Holdings Ltd.(b) | 43,381 | ||||||
20,000 | Tse Sui Luen Jewellery International Ltd. | 9,407 | ||||||
194,000 | Tysan Holdings Ltd. | 34,999 | ||||||
1,230,000 | United Energy Group Ltd.(b) | 190,203 | ||||||
226,500 | United Laboratories International Holdings Ltd. (The)(b) | 84,936 | ||||||
230,000 | Universal Technologies Holdings Ltd. | 16,893 | ||||||
84,000 | Value Convergence Holdings Ltd.(b) | 11,041 | ||||||
277,000 | Value Partners Group Ltd. | 169,552 | ||||||
188,000 | Varitronix International Ltd. | 132,760 | ||||||
348,000 | Vedan International Holdings Ltd. | 23,319 | ||||||
310,621 | Victory City International Holdings Ltd. | 48,434 | ||||||
20,000 | Vinda International Holdings Ltd. | 26,134 | ||||||
244,000 | Vitasoy International Holdings Ltd. | 295,561 | ||||||
1,098,400 | VODone Ltd. | 82,095 | ||||||
108,000 | VST Holdings Ltd. | 28,948 | ||||||
25,900 | VTech Holdings Ltd. | 330,419 |
Shares | Value | |||||||
HONG KONG (continued) | ||||||||
1,640,000 | Wang On Group Ltd. | $ | 25,360 | |||||
136,000 | Wasion Group Holdings Ltd. | 76,411 | ||||||
276,000 | Welling Holding Ltd. | 61,885 | ||||||
96,000 | Win Hanverky Holdings Ltd. | 12,989 | ||||||
48,320 | Wing Hang Bank Ltd. | 507,786 | ||||||
77,000 | Wing On Co. International Ltd.(d) | 240,124 | ||||||
230,000 | Wing Tai Properties Ltd. | 155,603 | ||||||
838,000 | Xinyi Glass Holdings Ltd. | 573,414 | ||||||
148,000 | XTEP International Holdings | 61,983 | ||||||
1,620,000 | Yanchang Petroleum International Ltd.(b) | 93,941 | ||||||
230,000 | Yeebo International Holdings(d) | 31,121 | ||||||
45,000 | YGM Trading Ltd. | 129,315 | ||||||
2,460,000 | Yingde Gases Group Co. Ltd. | 2,368,021 | ||||||
162,000 | Yip’s Chemical Holdings Ltd. | 176,401 | ||||||
152,500 | Yue Yuen Industrial Holdings Ltd. | 527,648 | ||||||
1,754,200 | Yuexiu Property Co. Ltd. | 519,920 | ||||||
230,191 | Yuexiu Transport Infrastructure Ltd. | 117,763 | ||||||
906,000 | Yugang International Ltd.(b) | 6,188 | ||||||
306,000 | Zhuhai Holdings Investment Group Ltd. | 46,924 | ||||||
86,573,051 | ||||||||
HUNGARY — 0.0% | ||||||||
2,915 | EGIS Pharmaceuticals Plc | 230,300 | ||||||
40 | EMASZ Rt | 2,017 | ||||||
28,924 | FHB Mortgage Bank Plc(b) | 45,181 | ||||||
57 | Fotex Holding SE Co. Ltd.(b)(d) | 45 | ||||||
50,499 | Magyar Telekom Telecommunications Plc | 93,326 | ||||||
5,822 | Richter Gedeon Nyrt | 864,601 | ||||||
1,235,470 | ||||||||
INDIA — 1.2% | ||||||||
355 | 3M India Ltd.(b) | 23,290 | ||||||
1,375 | Aban Offshore Ltd. | 7,821 | ||||||
18,184 | ABB Ltd.(d) | 175,616 | ||||||
7,510 | ABG Shipyard Ltd.(b) | 45,039 | ||||||
25,816 | ACC Ltd. | 588,130 | ||||||
176,085 | Adani Power Ltd.(b) | 159,727 | ||||||
25,742 | Aditya Birla Nuvo Ltd. | 493,568 | ||||||
6,786 | AIA Engineering Ltd.(b) | 39,009 | ||||||
3,521 | AKZO Nobel India Ltd. | 65,303 | ||||||
20,592 | Alembic Pharmaceuticals Ltd. | 43,722 | ||||||
36,030 | Allahabad Bank | 89,354 | ||||||
810 | Allcargo Logistics Ltd. | 1,737 | ||||||
188,105 | Alok Industries Ltd. | 32,611 | ||||||
1,082 | Alstom India Ltd. | 6,449 | ||||||
433,717 | Amara Raja Batteries Ltd.(d) | 2,117,908 | ||||||
29,480 | Amtek Auto Ltd. | 39,513 | ||||||
10,632 | Anant Raj Ltd. | 13,118 | ||||||
35,532 | Andhra Bank | 59,799 | ||||||
291 | Apar Industries Ltd.(b) | 648 |
24 |
|
Old Westbury Funds, Inc. | |
Global Small & Mid Cap Fund | |
Portfolio of Investments - (Continued) | April 30, 2013 |
(Unaudited) |
Shares | Value | |||||||
INDIA (continued) | ||||||||
202,005 | Apollo Hospitals Enterprise Ltd.(d) | $ | 3,113,070 | |||||
43,566 | Apollo Tyres Ltd. | 77,606 | ||||||
110,372 | Arvind Ltd. | 160,575 | ||||||
719,185 | Ashok Leyland Ltd.(b) | 300,623 | ||||||
77,677 | Aurobindo Pharma Ltd.(b) | 274,173 | ||||||
817,315 | Bajaj Electricals Ltd.(d) | 2,671,994 | ||||||
8,626 | Bajaj Finance Ltd. | 197,009 | ||||||
22,536 | Bajaj Finserv Ltd. | 312,890 | ||||||
224,250 | Bajaj Hindusthan Ltd. | 82,499 | ||||||
32,171 | Bajaj Holdings and Investment Ltd.(d) | 531,587 | ||||||
12,115 | Balkrishna Industries Ltd. | 59,020 | ||||||
189,807 | Ballarpur Industries Ltd. | 61,689 | ||||||
2,239 | Balmer Lawrie & Co. Ltd. | 28,188 | ||||||
2,270 | Balrampur Chini Mills Ltd.(b) | 2,005 | ||||||
15,704 | Bank of India | 95,084 | ||||||
11,554 | Bank of Maharashtra | 12,782 | ||||||
4,339 | BASF India Ltd. | 47,768 | ||||||
3,947 | Bata India Ltd. | 53,582 | ||||||
17,377 | BEML Ltd.(b) | 62,119 | ||||||
9,632 | BEML Ltd. - Partly Paid Shares(b) | 28,942 | ||||||
768,295 | Berger Paints India Ltd.(d) | 2,746,467 | ||||||
2,479 | Bharat Electronics Ltd.(b) | 54,437 | ||||||
39,760 | Bharat Forge Ltd.(b) | 169,992 | ||||||
12,744 | Bharat Petroleum Corp. Ltd. | 96,142 | ||||||
60,760 | Bhushan Steel Ltd. | 514,726 | ||||||
4,050 | Bhushan Steel Ltd. - Partly Paid Shares(b)(d) | 18,794 | ||||||
19,899 | Biocon Ltd. | 105,514 | ||||||
11,513 | Birla Corp. Ltd. | 54,690 | ||||||
1,274 | Blue Dart Express Ltd. | 59,697 | ||||||
4,107 | Bombay Rayon Fashions Ltd.(b) | 18,264 | ||||||
10,113 | Britannia Industries Ltd. | 108,453 | ||||||
2,409 | Cadila Healthcare Ltd. | 34,901 | ||||||
15,431 | Canara Bank | 118,802 | ||||||
7,476 | Carborundum Universal Ltd. | 17,418 | ||||||
1,681 | Central Bank of India | 2,227 | ||||||
29,868 | Century Plyboards India Ltd.(b)(d) | 28,756 | ||||||
18,212 | Century Textiles & Industries Ltd. | 97,724 | ||||||
6,433 | CESC Ltd. | 34,286 | ||||||
38,402 | Chambal Fertilizers & Chemicals Ltd. | 38,085 | ||||||
9,705 | Cholamandalam Investment and Finance Co. Ltd. | 48,095 | ||||||
8,372 | City Union Bank Ltd. | 8,525 | ||||||
1,761 | City Union Bank Ltd. - Partly Paid Shares(b) | 1,379 | ||||||
1,594 | Clariant Chemicals India Ltd. | 13,806 | ||||||
1,522 | CMC Ltd. | 37,761 | ||||||
10,128 | Colgate-Palmolive India Ltd. | 277,298 | ||||||
674 | Core Education & Technologies Ltd. | 685 |
Shares | Value | |||||||
INDIA (continued) | ||||||||
25,373 | Coromandel International Ltd. | $ | 92,690 | |||||
2,625 | Corp Bank | 18,437 | ||||||
197,092 | CRISIL Ltd.(d) | 3,274,379 | ||||||
60,376 | Crompton Greaves Ltd. | 102,631 | ||||||
17,092 | Cummins India Ltd. | 162,414 | ||||||
128,260 | Dabur India Ltd. | 356,723 | ||||||
2,774 | Dalmia Bharat Ltd. | 6,687 | ||||||
6,484 | DB Corp. Ltd. | 28,833 | ||||||
54,708 | DB Realty Ltd.(b) | 65,599 | ||||||
12,425 | Deepak Fertilizers & Petrochemicals Corp. Ltd. | 25,196 | ||||||
120,805 | Dish TV India Ltd.(b) | 151,962 | ||||||
3,236 | Divi’s Laboratories Ltd. | 64,987 | ||||||
80,935 | Edelweiss Financial Services Ltd. | 45,309 | ||||||
3,496 | Educomp Solutions Ltd. | 4,213 | ||||||
4,564 | Eicher Motors Ltd. | 250,137 | ||||||
25,575 | EID Parry India Ltd. | 73,623 | ||||||
13,381 | EIH Ltd. | 15,095 | ||||||
1,898 | Elder Pharmaceuticals Ltd. | 13,207 | ||||||
275,497 | Emami Ltd.(b)(d) | 3,277,686 | ||||||
4,147 | Era Infra Engineering Ltd. | 10,384 | ||||||
27,309 | Escorts Ltd. | 28,878 | ||||||
49,650 | Essar Oil Ltd.(b) | 70,409 | ||||||
20,708 | Essar Ports Ltd. | 33,656 | ||||||
31,009 | Essar Shipping Ltd.(b) | 11,258 | ||||||
36,761 | Exide Industries Ltd. | 90,424 | ||||||
4,776 | FDC Ltd. | 7,960 | ||||||
60,849 | Federal Bank Ltd.(b) | 504,920 | ||||||
6,289 | Federal-Mogul Goetze India Ltd.(b) | 23,132 | ||||||
3,815 | Financial Technologies India Ltd.(b) | 57,835 | ||||||
1,267,787 | Fortis Healthcare Ltd.(b)(d) | 2,355,319 | ||||||
9,586 | Future Capital Holdings Ltd.(b) | 30,040 | ||||||
29,363 | Gammon India Ltd. | 12,170 | ||||||
32,742 | Gateway Distriparks Ltd. | 74,795 | ||||||
1,177 | Gillette India Ltd. | 45,580 | ||||||
22,442 | Gitanjali Gems Ltd.(b) | 255,608 | ||||||
7,102 | GlaxoSmithKline Pharmaceuticals Ltd. | 298,215 | ||||||
14,696 | Glenmark Pharmaceuticals Ltd. | 132,252 | ||||||
22,105 | GMR Infrastructure Ltd.(b) | 8,366 | ||||||
273 | Godfrey Phillips India Ltd. | 12,519 | ||||||
30,654 | Godrej Consumer Products Ltd. | 487,215 | ||||||
23,771 | Godrej Industries Ltd. | 137,036 | ||||||
4,689 | Godrej Properties Ltd. | 53,250 | ||||||
3,081 | Gokul Refoils & Solvent Ltd.(b) | 1,201 | ||||||
50,128 | Great Eastern Shipping Co. Ltd. (The)(d) | 200,112 | ||||||
17,225 | Greaves Cotton Ltd. | 22,905 | ||||||
2,596 | Grindwell Norton Ltd. | 12,455 | ||||||
16,010 | Gruh Finance Ltd. | 56,569 | ||||||
15,133 | Gujarat Alkalies & Chemicals(b) | 47,128 | ||||||
8,892 | Gujarat Flourochemicals Ltd. | 49,244 |
25 |
|
Old Westbury Funds, Inc. | |
Global Small & Mid Cap Fund | |
Portfolio of Investments - (Continued) | April 30, 2013 |
(Unaudited) |
Shares | Value | |||||||
INDIA (continued) | ||||||||
29,561 | Gujarat Mineral Development Corp. Ltd.(b) | $ | 84,461 | |||||
26,956 | Gujarat Narmada Valley Fertilizers Co. Ltd.(b) | 39,532 | ||||||
15,068 | Gujarat NRE Coke Ltd.(b) | 4,822 | ||||||
659,082 | Gujarat Pipavav Port Ltd.(b)(d) | 595,529 | ||||||
84,645 | Gujarat State Fertilisers & Chemicals Ltd. | 86,978 | ||||||
52,661 | Gujarat State Petronet Ltd.(b) | 65,969 | ||||||
3,304 | Gulf Oil Corp Ltd.(b) | 3,796 | ||||||
6,229 | Havells India Ltd. | 76,091 | ||||||
2,793 | HBL Power Systems Ltd.(b) | 490 | ||||||
849 | HEG Ltd.(b) | 2,620 | ||||||
27,483 | HeidelbergCement India Ltd(b) | 19,318 | ||||||
18,832 | Hexa Tradex Ltd.(b) | 8,955 | ||||||
137,134 | Hexaware Technologies Ltd. | 209,640 | ||||||
4,530 | Himadri Chemicals & Industries(b) | 1,137 | ||||||
256,737 | Hindalco Industries Ltd. | 462,579 | ||||||
375 | Hinduja Ventures Ltd. | 2,596 | ||||||
248,507 | Hindustan Construction Co.(b) | 64,992 | ||||||
4,729 | Hindustan Petroleum Corp. Ltd.(b) | 26,662 | ||||||
430 | Honeywell Automation India Ltd. | 19,474 | ||||||
50,124 | Housing Development & Infrastructure Ltd.(b) | 49,757 | ||||||
722,385 | HSIL Ltd.(d) | 1,424,121 | ||||||
16,049 | HT Media Ltd. | 30,972 | ||||||
1,883 | HTMT Global Solutions Ltd.(b) | 9,180 | ||||||
49,378 | ICRA Ltd.(d) | 953,722 | ||||||
94,790 | IDBI Bank Ltd. | 155,113 | ||||||
475,747 | IDFC Ltd. | 1,351,960 | ||||||
34,778 | India Cements Ltd. | 53,134 | ||||||
85,322 | India Infoline Ltd. | 97,113 | ||||||
29,515 | Indiabulls Housing Finance Ltd.(b)(c)(d) | 148,904 | ||||||
20,989 | Indian Bank | 65,879 | ||||||
230,293 | Indian Hotels Co. Ltd.(d) | 244,677 | ||||||
29,466 | Indian Overseas Bank | 34,358 | ||||||
10,119 | Indraprastha Gas Ltd.(b) | 57,187 | ||||||
45,438 | IndusInd Bank Ltd. | 397,383 | ||||||
3,468 | Info Edge India Ltd.(b) | 22,697 | ||||||
16,196 | Infotech Enterprises Ltd. | 51,968 | ||||||
40,792 | ING Vysya Bank Ltd.(d) | 464,525 | ||||||
2,118 | Ingersoll-Rand India Ltd. | 15,697 | ||||||
323,988 | Ipca Laboratories Ltd.(d) | 3,073,661 | ||||||
21,385 | IRB Infrastructure Developers Ltd.(b) | 46,120 | ||||||
24,079 | IVRCL Infrastructures & Projects Ltd.(b) | 8,765 | ||||||
16,485 | Jagran Prakashan Pvt Ltd.(b) | 28,325 | ||||||
16,998 | Jai Corp. Ltd. | 20,388 | ||||||
32,475 | Jain Irrigation Systems Ltd. - DVR | 38,180 | ||||||
113,667 | Jaiprakash Associates Ltd. | 159,524 |
Shares | Value | |||||||
INDIA (continued) | ||||||||
65,559 | Jaiprakash Power Ventures Ltd.(b) | $ | 31,103 | |||||
7,028 | Jammu & Kashmir Bank Ltd.(b) | 176,075 | ||||||
9,049 | Jet Airways India Ltd.(b) | 104,369 | ||||||
6,226 | Jindal Poly Films Ltd. | 17,865 | ||||||
94,163 | Jindal Saw Ltd. | 140,069 | ||||||
6,613 | Jindal Stainless Ltd.(b) | 7,290 | ||||||
59,420 | JM Financial Ltd. | 19,445 | ||||||
71,518 | JSW Energy Ltd. | 85,915 | ||||||
19,392 | JSW Steel Ltd. | 250,359 | ||||||
138,541 | Jubilant Foodworks Ltd.(b) | 2,853,340 | ||||||
5,000 | Jubilant Organosys Ltd.(b) | 15,753 | ||||||
8,012 | Jyothy Laboratories Ltd. | 26,543 | ||||||
90,563 | Kakinada Fertilizers Ltd.(b)(c)(d) | 18,844 | ||||||
7,830 | Kalpataru Power Transmission Ltd.(b) | 11,628 | ||||||
93,172 | Karnataka Bank Ltd. | 257,872 | ||||||
1,762 | Karur Vysya Bank Ltd. | 15,206 | ||||||
24,476 | KPIT Cummins Infosystems Ltd. | 46,703 | ||||||
3,316 | KSB Pumps Ltd. | 12,963 | ||||||
1,091 | Lakshmi Machine Works Ltd. | 40,472 | ||||||
109,325 | LIC Housing Finance Ltd. | 498,380 | ||||||
21,876 | Madras Cements Ltd. | 99,937 | ||||||
3,444 | Mahanagar Telephone Nigam(b) | 1,288 | ||||||
11,875 | Maharashtra Seamless Ltd.(d) | 48,018 | ||||||
49,550 | Mahindra & Mahindra Financial Services Ltd. | 207,655 | ||||||
531 | Mahindra Lifespace Developers Ltd. | 4,110 | ||||||
3,619 | Manaksia Ltd.(b) | 2,669 | ||||||
60,692 | Mangalore Refinery & Petrochemicals Ltd.(b) | 53,691 | ||||||
60,461 | Marico Ltd. | 257,376 | ||||||
39,550 | MAX India Ltd. | 156,746 | ||||||
1,025 | Merck Ltd. | 12,032 | ||||||
16,192 | Monnet Ispat & Energy Ltd. | 59,686 | ||||||
46,986 | Motherson Sumi Systems Ltd. | 166,516 | ||||||
13,466 | Mphasis Ltd. | 93,353 | ||||||
78 | MRF Ltd. | 19,515 | ||||||
134,813 | Nagarjuna Construction Co.(b) | 77,998 | ||||||
82,330 | Nagarjuna Oil Refinery Ltd.(b) | 5,700 | ||||||
104,110 | National Aluminium Co. Ltd. | 67,867 | ||||||
31,270 | NHPC Ltd. | 12,421 | ||||||
16,197 | NIIT Technologies Ltd. | 78,022 | ||||||
38,070 | OMAXE Ltd.(b) | 112,631 | ||||||
21,234 | Opto Circuits India Ltd.(b) | 23,262 | ||||||
6,434 | Oracle Financial Sevices Software Ltd.(b) | 315,104 | ||||||
21,487 | Orchid Chemicals & Pharmaceuticals Ltd. | 25,936 | ||||||
8,317 | Orient Cement Ltd.(b)(c)(d) | 8,892 | ||||||
8,317 | Orient Paper & Industries Ltd. | 1,085 | ||||||
36,385 | Oriental Bank of Commerce | 179,517 | ||||||
550 | Orissa Minerals Development Co. Ltd. | 26,895 |
26 |
|
Old Westbury Funds, Inc. | |
Global Small & Mid Cap Fund | |
Portfolio of Investments - (Continued) | April 30, 2013 |
(Unaudited) |
Shares | Value | |||||||
INDIA (continued) | ||||||||
14,725 | Oswal Chemical & Fertilizers(b) | $ | 5,302 | |||||
28,655 | Page Industries Ltd.(d) | 1,907,271 | ||||||
3,860 | Peninsula Land Ltd.(b) | 3,419 | ||||||
104,278 | Petronet LNG Ltd. | 268,926 | ||||||
1,595 | Pfizer Ltd. | 30,641 | ||||||
4,125 | Phoenix Mills Ltd. | 20,589 | ||||||
382,315 | Pidilite Industries Ltd.(d) | 1,789,554 | ||||||
50,534 | Pipavav Defence & Offshore Engineering Co. Ltd.(b) | 67,460 | ||||||
7,053 | Plethico Pharmaceuticals Ltd.(b) | 31,275 | ||||||
40,716 | Prism Cement Ltd. | 33,540 | ||||||
1,195 | Procter & Gamble Hygiene & Health Care Ltd. | 59,655 | ||||||
60,577 | PTC India Ltd. | 67,104 | ||||||
29,314 | Punj Lloyd Ltd.(b) | 28,740 | ||||||
351,616 | Radico Khaitan Ltd.(b)(d) | 815,227 | ||||||
14,719 | Rain Commodities Ltd. | 12,190 | ||||||
24,971 | Rajesh Exports Ltd.(b) | 58,197 | ||||||
919,718 | Rallis India Ltd.(d) | 2,255,635 | ||||||
19,421 | Ranbaxy Laboratories Ltd.(b) | 162,257 | ||||||
22,060 | Raymond Ltd. | 118,299 | ||||||
49,404 | Redington India Ltd. | 71,995 | ||||||
53,752 | REI Agro Ltd.(b) | 11,833 | ||||||
3,937 | Reliance Capital Ltd.(b) | 25,850 | ||||||
121,363 | Reliance Communications Ltd.(b) | 220,695 | ||||||
6,260 | Reliance Infrastructure Ltd. | 43,457 | ||||||
34,343 | Rolta India Ltd. | 38,955 | ||||||
87,447 | Ruchi Soya Industries Ltd. | 113,442 | ||||||
21,104 | Rural Electrification Corp. Ltd.(b) | 87,558 | ||||||
9,422 | S Mobility Ltd.(d) | 4,433 | ||||||
3,688 | Sadbhav Engineering Ltd.(b) | 7,956 | ||||||
612 | Sanofi India Ltd. | 28,959 | ||||||
14,299 | Satyam Computer Services Ltd.(b) | 28,736 | ||||||
86,328 | Sesa Goa Ltd. | 252,150 | ||||||
20,538 | Shipping Corp. of India Ltd.(b) | 16,293 | ||||||
2,527 | Shoppers Stop Ltd. | 17,435 | ||||||
223,438 | Shree Renuka Sugars Ltd.(b) | 100,241 | ||||||
57,652 | Shriram Transport Finance Co. Ltd. | 778,000 | ||||||
55,313 | Sintex Industries Ltd.(b) | 48,737 | ||||||
15,463 | SJVN Ltd. | 5,729 | ||||||
161,819 | SKF India Ltd.(d) | 1,619,722 | ||||||
104 | Solar Industries India Ltd. | 1,956 | ||||||
426,240 | South Indian Bank Ltd. | 189,405 | ||||||
9,842 | SRF Ltd. | 31,107 | ||||||
3,969 | State Bank of Bikaner & Jaipur | 31,920 | ||||||
2,418 | Sterlite Technologies Ltd. | 1,121 | ||||||
97,037 | Strides Arcolab Ltd. | 1,514,984 | ||||||
8,719 | Sun TV Network Ltd.(b) | 67,108 | ||||||
9,094 | Sundaram Finance Ltd. | 88,506 | ||||||
6,405 | Supreme Industries Ltd. | 38,714 | ||||||
163,839 | Suzlon Energy Ltd.(b) | 43,701 |
Shares | Value | |||||||
INDIA (continued) | ||||||||
38,891 | Syndicate Bank | $ | 85,152 | |||||
7,242 | Tamilnadu Newsprint & Papers Ltd.(b) | 12,950 | ||||||
32,487 | Tata Chemicals Ltd. | 194,337 | ||||||
4,726 | Tata Investment Corp. Ltd. | 37,690 | ||||||
979 | Tata Power Co. Ltd. | 1,722 | ||||||
99,640 | Tata Tea Ltd.(b) | 269,726 | ||||||
7,182 | Tech Mahindra Ltd. | 125,953 | ||||||
14,853 | Time Technoplast Ltd.(b) | 10,504 | ||||||
10,567 | Timken India Ltd.(b) | 31,498 | ||||||
348 | Titagarh Wagons Ltd. | 1,096 | ||||||
45,835 | Titan Industries Ltd. | 230,404 | ||||||
102,381 | Torrent Pharmaceuticals Ltd.(d) | 1,309,185 | ||||||
25,014 | Torrent Power Ltd. | 65,972 | ||||||
2,157 | Trent Ltd. | 42,826 | ||||||
29,890 | Triveni Turbine Ltd. | 28,850 | ||||||
697 | TTK Prestige Ltd. | 44,513 | ||||||
15,066 | Tube Investments of India | 44,598 | ||||||
37,544 | TV18 Broadcast Ltd.(b) | 18,746 | ||||||
37,709 | UCO Bank | 48,107 | ||||||
10,645 | Uflex Ltd. | 14,821 | ||||||
13,600 | Unichem Laboratories Ltd. | 42,881 | ||||||
58,000 | Union Bank of India | 261,606 | ||||||
236,660 | Unitech Ltd.(b) | 118,165 | ||||||
22,486 | United Breweries Ltd. | 307,992 | ||||||
43,389 | United Phosphorus Ltd.(b) | 112,026 | ||||||
4,366 | United Spirits Ltd. | 177,336 | ||||||
16,860 | Usha Martin Ltd.(b) | 7,877 | ||||||
1,120 | Vardhman Special Steels Ltd.(b) | 478 | ||||||
5,603 | Vardhman Textiles Ltd. | 28,359 | ||||||
23,739 | Videocon Industries Ltd. | 96,428 | ||||||
20,407 | Vijaya Bank | 19,856 | ||||||
11,180 | VIP Industries Ltd. | 13,171 | ||||||
10,213 | Voltas Ltd. | 16,168 | ||||||
902 | VST Industries Ltd. | 26,061 | ||||||
1,793 | WABCO India Ltd. | 44,955 | ||||||
9,149 | Welspun Corp. Ltd. | 9,017 | ||||||
15,809 | Wockhardt Ltd.(b) | 556,644 | ||||||
548 | Wyeth Ltd. | 8,287 | ||||||
31,014 | Yes Bank Ltd. | 288,604 | ||||||
180,211 | Zee Entertainment Enterprises Ltd. | 768,644 | ||||||
14,226 | Zee Learn Ltd.(b) | 4,650 | ||||||
4,219 | Zensar Technologies Ltd. | 19,218 | ||||||
621 | Zuari Agro Chemicals Ltd.(b) | 1,812 | ||||||
66,385,065 | ||||||||
INDONESIA — 0.5% | ||||||||
99,000 | Adhi Karya Persero Tbk PT | 30,293 | ||||||
7,335,500 | AKR Corporindo Tbk PT | 3,885,608 | ||||||
421,500 | Alam Sutera Realty Tbk PT | 45,521 | ||||||
1,118,000 | Aneka Tambang Persero Tbk PT | 158,688 | ||||||
94,500 | Arwana Citramulia Tbk PT | 30,131 | ||||||
77,000 | Asahimas Flat Glass Tbk PT | 66,526 | ||||||
165,500 | Astra Agro Lestari Tbk PT | 301,296 |
27 |
|
Old Westbury Funds, Inc. | |
Global Small & Mid Cap Fund | |
Portfolio of Investments - (Continued) | April 30, 2013 |
(Unaudited) |
Shares | Value | |||||||
INDONESIA (continued) | ||||||||
42,411,000 | Bakrie & Brothers Tbk PT(b)(d) | $ | 218,107 | |||||
9,710,000 | Bakrie Sumatera Plantations Tbk PT | 90,883 | ||||||
9,876,000 | Bakrie Telecom Tbk PT(b) | 50,789 | ||||||
1,084,166 | Bank Bukopin Tbk PT | 102,590 | ||||||
505,316 | Bank Danamon Indonesia Tbk PT | 335,231 | ||||||
3,011,250 | Bank Pan Indonesia Tbk PT(b) | 247,776 | ||||||
321,500 | Bank Pembangunan Daerah Jawa Barat Dan Banten Tbk PT | 40,343 | ||||||
13,000 | Bank Permata Tbk PT(b) | 2,273 | ||||||
939,196 | Bank Tabungan Negara Persero Tbk PT | 143,934 | ||||||
107,500 | Bank Tabungan Pensiunan Nasional Tbk PT(b) | 58,601 | ||||||
495,000 | Barito Pacific Tbk PT(b) | 20,620 | ||||||
54,000 | Bayan Resources Tbk PT(d) | 44,155 | ||||||
749,000 | Berau Coal Energy Tbk PT | 15,793 | ||||||
4,004,000 | Bhakti Investama Tbk PT | 201,796 | ||||||
223,000 | Bisi International PT | 16,973 | ||||||
560,000 | Budi Acid Jaya Tbk PT(b) | 6,739 | ||||||
2,663,600 | Bumi Serpong Damai PT | 473,955 | ||||||
4,958,000 | Central Proteinaprima Tbk PT(b)(c)(d) | 17,848 | ||||||
5,595,500 | Ciputra Development Tbk PT | 794,219 | ||||||
554,000 | Ciputra Property Tbk PT | 66,098 | ||||||
238,000 | Ciputra Surya Tbk PT | 82,006 | ||||||
479,000 | Citra Marga Nusaphala Persada Tbk PT | 90,652 | ||||||
11,917,500 | Darma Henwa Tbk PT(b) | 61,288 | ||||||
2,223,500 | Delta Dunia Makmur Tbk PT(b) | 42,766 | ||||||
393,500 | Elnusa Tbk PT(b) | 9,916 | ||||||
25,671,500 | Energi Mega Persada Tbk PT(b). | 359,097 | ||||||
524,500 | Exploitasi Energi Indonesia Tbk PT(b) | 19,691 | ||||||
36,500 | Fajar Surya Wisesa Tbk PT(b) | 10,042 | ||||||
947,000 | Gajah Tunggal Tbk PT | 282,469 | ||||||
24,500 | Garda Tujuh Buana Tbk PT(b) | 7,938 | ||||||
2,161,000 | Global Mediacom Tbk PT | 483,433 | ||||||
1,193,400 | Gozco Plantations Tbk PT | 17,430 | ||||||
684,000 | Hanson International Tbk PT(b) | 34,473 | ||||||
91,500 | Harum Energy Tbk PT | 39,056 | ||||||
3,129,500 | Hexindo Adiperkasa Tbk PT(d) | 1,561,129 | ||||||
1,387,000 | Holcim Indonesia Tbk PT | 520,705 | ||||||
247,000 | Indah Kiat Pulp and Paper Corp. Tbk PT(b) | 22,102 | ||||||
518,500 | Indika Energy Tbk PT | 59,729 | ||||||
17,000 | Indo Tambangraya Megah Tbk PT | 64,258 | ||||||
396,000 | Indosat Tbk PT | 244,382 | ||||||
11,500 | Inovisi Infracom Tbk PT(b) | 7,511 | ||||||
1,594,500 | Intiland Development Tbk PT | 96,761 | ||||||
1,897,500 | Japfa Comfeed Indonesia Tbk PT | 376,670 |
Shares | Value | |||||||
INDONESIA (continued) | ||||||||
561,000 | Jasa Marga Persero Tbk PT | $ | 386,598 | |||||
12,459,500 | Kawasan Industri Jababeka Tbk PT(b) | 384,454 | ||||||
48,000 | Lippo Cikarang Tbk PT(b) | 33,818 | ||||||
13,416,750 | Lippo Karawaci Tbk PT | 1,862,958 | ||||||
1,437,300 | Matahari Putra Prima Tbk PT | 294,186 | ||||||
1,047,000 | Mayora Indah Tbk PT(d) | 3,236,035 | ||||||
491,500 | Medco Energi Internasional Tbk PT | 96,556 | ||||||
7,567,500 | Media Nusantara Citra Tbk PT | 2,432,341 | ||||||
272,000 | Mitra Adiperkasa Tbk PT | 230,805 | ||||||
1,688,500 | Mitra International Resources Tbk PT(b) | 11,289 | ||||||
3,558,000 | Nippon Indosari Corpindo Tbk PT(d) | 2,817,855 | ||||||
950,000 | Nusantara Infrastructure Tbk PT(b) | 24,428 | ||||||
1,246,000 | Pakuwon Jati Tbk PT | 51,903 | ||||||
4,283,000 | Panin Financial Tbk PT(b) | 105,726 | ||||||
705,500 | Panin Insurance Tbk PT | 55,874 | ||||||
895,500 | Perusahaan Perkebunan London Sumatra Indonesia Tbk PT | 140,001 | ||||||
827,000 | Polychem Indonesia Tbk PT(b) | 30,622 | ||||||
1,383,000 | Ramayana Lestari Sentosa Tbk PT | 204,836 | ||||||
77,500 | Resource Alam Indonesia Tbk PT | 16,740 | ||||||
7,234,000 | Sampoerna Agro Tbk PT(d) | 1,450,892 | ||||||
5,557,500 | Selamat Sempurna Tbk PT(d) | 1,557,643 | ||||||
7,450,000 | Sentul City Tbk PT(b) | 218,385 | ||||||
117,500 | Sinar Mas Agro Resources & Technology Tbk PT(d) | 78,555 | ||||||
5,000 | Sinar Mas Multiartha Tbk PT | 2,353 | ||||||
467,500 | Sugih Energy Tbk PT(b) | 19,715 | ||||||
1,762,000 | Summarecon Agung Tbk PT | 471,196 | ||||||
225,000 | Surya Citra Media Tbk PT(c) | 64,798 | ||||||
396,500 | Surya Semesta Internusa Tbk PT | 64,435 | ||||||
79,000 | Tambang Batubara Bukit Asam Persero Tbk PT | 123,914 | ||||||
579,000 | Tiga Pilar Sejahtera Food Tbk | 73,845 | ||||||
1,562,000 | Timah Persero Tbk PT | 228,135 | ||||||
21,000 | Tower Bersama Infrastructure Tbk PT(b) | 12,204 | ||||||
410,000 | Trada Maritime Tbk PT(b) | 61,147 | ||||||
4,875,000 | Truba Alam Manunggal Engineering PT(b)(d) | 25,071 | ||||||
1,152,000 | Tunas Baru Lampung Tbk PT | 57,467 | ||||||
539,500 | Tunas Ridean Tbk PT | 56,045 | ||||||
481,500 | Vale Indonesia Tbk PT | 141,144 | ||||||
1,155,500 | Wijaya Karya Persero Tbk PT | 285,235 | ||||||
29,369,494 | ||||||||
IRELAND — 2.1% | ||||||||
109,408 | Aer Lingus Group Plc | 199,125 | ||||||
1,865,968 | Bank of Ireland(b) | 415,298 | ||||||
220,453 | Beazley Plc | 768,779 |
28 |
|
Old Westbury Funds, Inc. | |
Global Small & Mid Cap Fund | |
Portfolio of Investments - (Continued) | April 30, 2013 |
(Unaudited) |
Shares | Value | |||||||
IRELAND (continued) | ||||||||
154,534 | C&C Group Plc(b) | $ | 960,584 | |||||
22,410 | DCC Plc(b) | 820,162 | ||||||
49,283 | Elan Corp. Plc(b) | 568,228 | ||||||
11,306 | FBD Holdings Plc(b) | 183,661 | ||||||
692,678 | Glanbia Plc(b) | 9,259,060 | ||||||
53,885 | Grafton Group Plc - Units | 374,760 | ||||||
222,418 | Greencore Group Plc | 367,950 | ||||||
16,165 | IFG Group Plc | 29,804 | ||||||
30,109 | Independent News & Media Plc(b) | 1,546 | ||||||
1,636 | Irish Continental Group Plc - Units | 44,599 | ||||||
126,391 | James Hardie Industries Plc - CDI | 1,328,638 | ||||||
291,661 | Kenmare Resources Plc(b) | 120,224 | ||||||
29,631 | Kerry Group Plc - Class A | 1,752,503 | ||||||
84,255 | Kingspan Group Plc(b)(e) | 1,017,611 | ||||||
6,121 | Kingspan Group Plc(e) | 73,928 | ||||||
12,329 | Paddy Power Plc(b) | 1,038,336 | ||||||
80,334 | Smurfit Kappa Group Plc(b) | 1,192,320 | ||||||
132,882 | United Drug Plc(b) | 625,639 | ||||||
2,466,000 | Willis Group Holdings Plc(d) | 97,850,880 | ||||||
118,993,635 | ||||||||
ISLE OF MAN — 0.0% | ||||||||
17,071 | Exillon Energy Plc(b) | 40,969 | ||||||
4,535 | Hansard Global Plc | 6,974 | ||||||
47,943 | ||||||||
ISRAEL — 1.6% | ||||||||
36,864 | Africa Israel Investments Ltd.(b) | 89,265 | ||||||
4,663 | Airport City Ltd.(b) | 28,732 | ||||||
2,967 | Alon Holdings Blue Square Israel Ltd.(b) | 11,156 | ||||||
1,293 | AL-ROV Israel Ltd.(b) | 35,962 | ||||||
16,296 | AudioCodes Ltd.(b) | 64,548 | ||||||
2,501 | Azrieli Group | 72,274 | ||||||
28 | Bayside Land Corp. | 6,208 | ||||||
111,791 | Bezeq The Israeli Telecommunication Corp. Ltd. | 162,152 | ||||||
1,289 | Biocell Ltd.(b) | 9,884 | ||||||
409 | Ceragon Networks Ltd.(b) | 1,578 | ||||||
1,662,500 | Check Point Software Technologies Ltd.(b) | 77,505,750 | ||||||
4,796 | Clal Biotechnology Industries Ltd.(b) | 10,302 | ||||||
49,365 | Clal Industries Ltd. | 196,221 | ||||||
7,869 | Clal Insurance Enterprise Holdings Ltd. | 130,140 | ||||||
6,078 | Compugen Ltd.(b) | 35,858 | ||||||
13,567 | Delek Automotive Systems Ltd. | 145,661 | ||||||
694 | Delek Group Ltd. | 182,550 | ||||||
1,042 | Delta-Galil Industries Ltd. | 15,187 | ||||||
692 | DS Apex Holdings Ltd. | 2,513 | ||||||
4,935 | Elbit Systems Ltd. | 205,797 | ||||||
905 | Electra Ltd. | 110,670 | ||||||
1 | Electra Real Estate Ltd.(b) | 1 |
Shares | Value | |||||||
ISRAEL (continued) | ||||||||
1,670 | Elron Electronic Industries Ltd. | $ | 9,028 | |||||
509 | Equital Ltd.(b) | 5,925 | ||||||
205 | Evogene Ltd.(b) | 1,132 | ||||||
4,175 | EZchip Semiconductor Ltd.(b) | 94,168 | ||||||
15,405 | First International Bank of Israel Ltd.(b) | 224,267 | ||||||
3,427 | Formula Systems (1985) Ltd.(b) | 71,675 | ||||||
26,484 | Frutarom Industries Ltd. | 391,387 | ||||||
1,557 | Gilat Satellite Networks Ltd.(b) | 8,769 | ||||||
4,055 | Given Imaging Ltd.(b) | 64,484 | ||||||
232 | Golf & Co. Ltd. | 681 | ||||||
1,279 | Hadera Paper Ltd.(b) | 74,207 | ||||||
4,610 | Harel Insurance Investments & Financial Services Ltd. | 229,150 | ||||||
270 | Industrial Buildings Corp. | 405 | ||||||
252,816 | Israel Discount Bank Ltd. - Class A(b) | 424,040 | ||||||
477 | Ituran Location & Control Ltd. | 7,672 | ||||||
4,246 | Jerusalem Oil Exploration(b) | 110,964 | ||||||
5,171 | Kamada Ltd.(b) | 59,138 | ||||||
89 | Maabarot Products Ltd. | 905 | ||||||
4,100 | Magic Software Enterprises Ltd. | 22,519 | ||||||
9,868 | Matrix IT Ltd. | 49,959 | ||||||
1,459 | Melisron Ltd. | 30,286 | ||||||
8,990 | Mellanox Technologies Ltd.(b) | 468,934 | ||||||
9,866 | Menorah Mivtachim Holdings Ltd.(b) | 104,467 | ||||||
158,600 | Migdal Insurance & Financial Holding Ltd. | 259,644 | ||||||
1,673 | Mivtach Shamir Holdings Ltd. | 43,983 | ||||||
61,197 | Mizrahi Tefahot Bank Ltd.(b) | 625,456 | ||||||
7,596 | Naphtha Israel Petroleum Corp. Ltd.(b) | 38,586 | ||||||
736 | Neto ME Holdings Ltd. | 27,592 | ||||||
12,519 | NICE Systems Ltd.(b) | 438,951 | ||||||
200,000 | NICE Systems Ltd. - ADR(b) | 7,094,000 | ||||||
645 | Nitsba Holdings 1995 Ltd.(b) | 7,501 | ||||||
2,068 | Nova Measuring Instruments Ltd.(b) | 18,476 | ||||||
628,921 | Oil Refineries Ltd.(b) | 329,986 | ||||||
6,762 | Ormat Industries Ltd.(b) | 40,138 | ||||||
8,208 | Osem Investments Ltd. | 166,037 | ||||||
9,897 | Partner Communications Co. Ltd. | 68,244 | ||||||
2,872 | Paz Oil Co. Ltd.(b) | 448,625 | ||||||
15,462 | Phoenix Holdings Ltd. (The) | 46,709 | ||||||
1,121 | Plasson Industries Ltd. | 37,179 | ||||||
715 | Rami Levi Chain Stores Hashikma Marketing 2006 Ltd. | 33,008 | ||||||
7,504 | REIT 1 Ltd. | 16,758 | ||||||
68,879 | Shikun & Binui Ltd. | 144,060 | ||||||
13,900 | Shufersal Ltd. | 50,558 | ||||||
6,039 | Strauss Group Ltd. | 88,858 | ||||||
2,366 | Tower Semiconductor Ltd.(b) | 15,494 |
29 |
|
Old Westbury Funds, Inc. | |
Global Small & Mid Cap Fund | |
Portfolio of Investments - (Continued) | April 30, 2013 |
(Unaudited) |
Shares | Value | |||||||
ISRAEL (continued) | ||||||||
6,295 | Union Bank of Israel(b) | $ | 23,845 | |||||
91,540,259 | ||||||||
ITALY — 0.5% | ||||||||
155,713 | A2A SpA | 122,425 | ||||||
8,199 | ACEA SpA | 56,094 | ||||||
320,040 | Aedes SpA(b) | 15,595 | ||||||
3,675 | Aeroporto di Venezia Marco Polo SAVE SpA | 53,480 | ||||||
3,797 | Alerion Cleanpower SpA | 18,002 | ||||||
27,658 | Amplifon SpA | 142,419 | ||||||
6,452 | Ansaldo STS SpA | 66,574 | ||||||
45,001 | Arnoldo Mondadori Editore SpA(b) | 59,857 | ||||||
5,010 | Ascopiave SpA(b) | 9,567 | ||||||
9,416 | Astaldi SpA | 65,040 | ||||||
14,058 | Autogrill SpA | 181,897 | ||||||
10,738 | Azimut Holding SpA | 199,677 | ||||||
250,053 | Banca Carige SpA | 181,778 | ||||||
16,412 | Banca Generali SpA | 338,256 | ||||||
1,325 | Banca IFIS SpA | 13,864 | ||||||
1,163,180 | Banca Monte dei Paschi di Siena SpA(b) | 327,663 | ||||||
180,030 | Banca Piccolo Credito Valtellinese Scarl | 225,236 | ||||||
160,306 | Banca Popolare dell’Emilia Romagna Scrl | 1,357,470 | ||||||
6,712 | Banca Popolare dell’Etruria e del Lazio(b) | 15,291 | ||||||
1,724,010 | Banca Popolare di Milano Scarl(b) | 1,151,111 | ||||||
107,950 | Banca Popolare di Sondrio Scarl | 625,809 | ||||||
34,098 | Banca Profilo SpA | 11,671 | ||||||
7,285 | Banco di Desio e della Brianza SpA | 18,977 | ||||||
507,673 | Banco Popolare Scarl(b) | 732,095 | ||||||
3,334 | BasicNet SpA | 7,341 | ||||||
7,670 | Biesse SpA(b) | 26,141 | ||||||
13,563 | Brembo SpA | 222,022 | ||||||
186,475 | Brioschi Sviluppo Immobiliare SpA(b) | 23,035 | ||||||
19,914 | Buzzi Unicem SpA | 304,481 | ||||||
4,217 | Caltagirone Editore SpA | 4,407 | ||||||
22,475 | Cementir Holding SpA | 63,341 | ||||||
389,606 | CIR-Compagnie Industriali Riunite SpA | 449,982 | ||||||
2,627 | Credito Bergamasco SpA | 44,076 | ||||||
29,592 | Credito Emiliano SpA | 169,135 | ||||||
13,731 | Danieli & C Officine Meccaniche SpA | 350,088 | ||||||
4,885 | Datalogic SpA | 36,252 | ||||||
93,104 | Davide Campari-Milano SpA | 756,524 | ||||||
50,118 | DeA Capital SpA(b) | 87,784 | ||||||
23,657 | Delclima(b) | 26,482 | ||||||
23,657 | De’Longhi SpA | 358,595 | ||||||
9,154 | DiaSorin SpA | 343,337 |
Shares | Value | |||||||
ITALY (continued) | ||||||||
1,977 | Ei Towers SpA(b) | $ | 69,751 | |||||
1,550 | Engineering SpA | 63,749 | ||||||
24,995 | ERG SpA | 239,308 | ||||||
5,852 | Esprinet SpA | 28,438 | ||||||
15,793 | Eurotech SpA(b) | 26,393 | ||||||
49,066 | Falck Renewables SpA | 53,988 | ||||||
297,242 | Fiat SpA(b) | 1,777,979 | ||||||
177,120 | Finmeccanica SpA(b) | 921,837 | ||||||
151,956 | Fondiaria-Sai SpA(b) | 310,184 | ||||||
457,280 | Gemina SpA(b) | 873,814 | ||||||
10,615 | Geox SpA | 32,153 | ||||||
57,144 | Gruppo Editoriale L’Espresso SpA | 59,715 | ||||||
54,823 | Hera SpA | 111,548 | ||||||
36,611 | Immobiliare Grande Distribuzione REIT | 39,536 | ||||||
182,644 | IMMSI SpA | 109,707 | ||||||
16,260 | Indesit Co. SpA | 127,732 | ||||||
3,035 | Industria Macchine Automatiche SpA | 72,265 | ||||||
198,830 | Intek Group SpA(b) | 82,483 | ||||||
32,568 | Interpump Group SpA | 286,508 | ||||||
132,330 | Iren SpA | 135,061 | ||||||
36,786 | Italcementi SpA | 228,178 | ||||||
4,486 | Italmobiliare SpA(b) | 91,512 | ||||||
40,005 | Juventus Football Club SpA(b) | 11,327 | ||||||
762 | Landi Renzo SpA(b) | 1,273 | ||||||
12,807 | Lottomatica Group SpA | 326,529 | ||||||
29,519 | Maire Tecnimont SpA(b) | 14,240 | ||||||
1,779 | Mariella Burani SpA(b)(c)(d) | 0 | ||||||
9,386 | MARR SpA | 113,226 | ||||||
189,408 | Mediaset SpA | 489,403 | ||||||
197,050 | Mediobanca SpA | 1,252,372 | ||||||
40,338 | Mediolanum SpA | 271,725 | ||||||
145,710 | Milano Assicurazioni SpA(b) | 95,409 | ||||||
7,534 | Nice SpA | 25,202 | ||||||
635,716 | Parmalat SpA | 1,959,063 | ||||||
70,369 | Piaggio & C SpA | 180,711 | ||||||
134,537 | Pirelli & C. SpA | 1,397,053 | ||||||
18,004 | Poltrona Frau SpA(b) | 25,797 | ||||||
324,328 | Prelios SpA(b) | 31,180 | ||||||
96,013 | Premafin Finanziaria SpA(b) | 22,760 | ||||||
11,421 | Prysmian SpA | 230,577 | ||||||
71,976 | RCS MediaGroup SpA(b) | 69,812 | ||||||
30,604 | Recordati SpA | 315,580 | ||||||
125,022 | Reno de Medici SpA(b) | 19,412 | ||||||
490 | Reply SpA | 19,030 | ||||||
70,103 | Retelit SpA(b) | 46,623 | ||||||
29 | Sabaf SpA | 355 | ||||||
82 | SAES Getters SpA | 817 | ||||||
18,803 | Safilo Group SpA(b) | 308,295 | ||||||
119,252 | Saras SpA(b) | 158,777 | ||||||
18,549 | Snai SpA(b) | 18,981 | ||||||
16,282 | Societa Cattolica di Assicurazioni SCRL(b) | 319,709 |
30 |
|
Old Westbury Funds, Inc. | |
Global Small & Mid Cap Fund | |
Portfolio of Investments - (Continued) | April 30, 2013 |
(Unaudited) |
Shares | Value | |||||||
ITALY (continued) | ||||||||
3,795 | Societa Iniziative Autostradali e Servizi SpA | $ | 34,335 | |||||
471 | Societa per la Bonifica dei Terreni Ferraresi e Imprese Agricole SpA | 23,292 | ||||||
3,079 | Socotherm SpA(b)(c)(d) | 277 | ||||||
15,879 | Sogefi SpA | 46,006 | ||||||
12,888 | SOL SpA | 85,713 | ||||||
60,496 | Sorin SpA(b) | 169,538 | ||||||
6,138 | Tamburi Investment Partners SpA | 12,942 | ||||||
305,149 | Telecom Italia Media SpA(b) | 42,517 | ||||||
20,102 | Tiscali SpA(b) | 1,112 | ||||||
3,433 | Tod’s SpA | 498,224 | ||||||
18,881 | Trevi Finanziaria Industriale SpA | 144,219 | ||||||
6,610 | Uni Land SpA(b)(c)(d) | 0 | ||||||
446,071 | Unione di Banche Italiane SCPA | 1,862,227 | ||||||
83,800 | Unipol Gruppo Finanziario SpA(b) | 286,937 | ||||||
2,770 | Vianini Lavori SpA | 12,585 | ||||||
10,354 | Vittoria Assicurazioni SpA | 88,632 | ||||||
13,735 | Yoox SpA(b) | 257,939 | ||||||
11,183 | Zignago Vetro SpA | 70,338 | ||||||
26,366,781 | ||||||||
JAPAN — 5.1% | ||||||||
130,000 | 77 Bank Ltd. (The) | 772,119 | ||||||
4,700 | A&D Co. Ltd. | 27,192 | ||||||
779 | Accordia Golf Co. Ltd. | 884,601 | ||||||
59,000 | Achilles Corp. | 84,731 | ||||||
56,800 | ADEKA Corp. | 510,405 | ||||||
7,200 | Advan Co. Ltd. | 91,066 | ||||||
4,300 | Aeon Delight Co. Ltd. | 89,057 | ||||||
2,200 | Aeon Fantasy Co. Ltd. | 40,825 | ||||||
800 | Agrex, Inc. | 7,123 | ||||||
8,600 | Ahresty Corp. | 58,754 | ||||||
11,600 | Ai Holdings Corp. | 115,899 | ||||||
22,400 | Aica Kogyo Co. Ltd. | 451,286 | ||||||
3,300 | Aichi Bank Ltd. (The) | 188,552 | ||||||
4,500 | Aichi Corp. | 21,049 | ||||||
84,000 | Aichi Steel Corp. | 342,945 | ||||||
9,000 | Aichi Tokei Denki Co. Ltd. | 24,558 | ||||||
38,100 | Aida Engineering Ltd. | 314,618 | ||||||
6,700 | Aigan Co. Ltd.(b) | 22,337 | ||||||
2,800 | Ain Pharmaciez, Inc. | 136,862 | ||||||
7,400 | Aiphone Co. Ltd. | 120,847 | ||||||
38,000 | Air Water, Inc. | 613,941 | ||||||
11,300 | Airport Facilities Co. Ltd. | 84,154 | ||||||
13,400 | Aisan Industry Co. Ltd. | 128,522 | ||||||
11,300 | Aizawa Securities Co. Ltd. | 70,940 | ||||||
91,000 | Akita Bank Ltd. (The) | 252,972 | ||||||
2,100 | Alconix Corp. | 42,006 | ||||||
10,500 | Alfresa Holdings Corp. | 623,634 | ||||||
79,500 | Allied Telesis Holdings KK | 72,580 |
Shares | Value | |||||||
JAPAN (continued) | ||||||||
11,100 | Alpen Co. Ltd. | $ | 231,713 | |||||
3,200 | Alpha Corp. | 35,123 | ||||||
3,360 | Alpha Systems, Inc. | 48,943 | ||||||
30,200 | Alpine Electronics, Inc. | 307,623 | ||||||
86,600 | Alps Electric Co. Ltd. | 658,261 | ||||||
2,500 | Alps Logistics Co. Ltd. | 27,030 | ||||||
1,500 | Altech Corp. | 16,202 | ||||||
139,000 | Amada Co. Ltd. | 1,112,171 | ||||||
16,800 | Amano Corp. | 179,400 | ||||||
5 | Amiyaki Tei Co. Ltd. | 15,438 | ||||||
3,500 | Amuse, Inc. | 83,295 | ||||||
13,000 | Anest Iwata Corp. | 56,942 | ||||||
31,000 | Anritsu Corp. | 462,687 | ||||||
12,400 | AOC Holdings, Inc. | 43,502 | ||||||
1,800 | AOI Electronic Co. Ltd. | 30,466 | ||||||
16,800 | AOKI Holdings, Inc. | 517,864 | ||||||
84,000 | Aomori Bank Ltd. (The) | 249,885 | ||||||
24,100 | Aoyama Trading Co. Ltd. | 720,145 | ||||||
10,600 | Arakawa Chemical Industries Ltd. | 86,227 | ||||||
25,000 | Araya Industrial Co. Ltd. | 35,903 | ||||||
8,700 | Arcland Sakamoto Co. Ltd. | 185,986 | ||||||
17,638 | Arcs Co. Ltd. | 349,558 | ||||||
3,600 | Argo Graphics, Inc. | 53,916 | ||||||
218,200 | Ariake Japan Co. Ltd.(d) | 5,013,776 | ||||||
22,800 | Arisawa Manufacturing Co. Ltd.(b) | 82,093 | ||||||
6,200 | Arnest One Corp. | 141,891 | ||||||
9,900 | Arrk Corp.(b) | 33,005 | ||||||
5,190 | As One Corp. | 122,556 | ||||||
4,000 | Asahi Co. Ltd. | 67,169 | ||||||
20,000 | Asahi Diamond Industrial Co. Ltd. | 209,468 | ||||||
6,850 | Asahi Holdings, Inc. | 138,567 | ||||||
13,000 | Asahi Kogyosha Co. Ltd. | 43,340 | ||||||
3,000 | Asahi Net, Inc. | 15,356 | ||||||
32,000 | Asahi Organic Chemicals Industry Co. Ltd. | 72,216 | ||||||
23,000 | Asanuma Corp.(b) | 19,111 | ||||||
12,400 | Asatsu-DK, Inc. | 317,107 | ||||||
31 | Asax Co. Ltd. | 69,482 | ||||||
24,000 | Ashimori Industry Co. Ltd.(b) | 35,452 | ||||||
18,000 | ASKA Pharmaceutical Co. Ltd. | 133,497 | ||||||
12,000 | Asunaro Aoki Construction Co. Ltd. | 65,364 | ||||||
10,300 | Atom Corp. | 60,436 | ||||||
77,000 | Atsugi Co. Ltd. | 93,994 | ||||||
60,900 | Autobacs Seven Co. Ltd. | 1,025,776 | ||||||
1,300 | Avex Group Holdings, Inc. | 37,112 | ||||||
129,000 | Awa Bank Ltd. (The) | 762,210 | ||||||
9,300 | Azbil Corp. | 200,529 | ||||||
47,000 | Bando Chemical Industries Ltd. | 144,638 | ||||||
5,400 | Bank of Iwate Ltd. (The) | 232,097 | ||||||
26,000 | Bank of Kochi Ltd. (The) | 40,806 | ||||||
64,000 | Bank of Nagoya Ltd. (The) | 303,308 | ||||||
15,100 | Bank of Okinawa Ltd. (The) | 732,656 |
31 |
|
Old Westbury Funds, Inc. | |
Global Small & Mid Cap Fund | |
Portfolio of Investments - (Continued) | April 30, 2013 |
(Unaudited) |
Shares | Value | |||||||
JAPAN (continued) | ||||||||
67,000 | Bank of Saga Ltd. (The) | $ | 170,447 | |||||
25,200 | Bank of the Ryukyus Ltd. | 371,983 | ||||||
8,100 | Belc Co. Ltd. | 140,339 | ||||||
20,200 | Belluna Co. Ltd. | 197,887 | ||||||
44,000 | Best Denki Co. Ltd.(b) | 96,589 | ||||||
297 | Bic Camera, Inc. | 130,243 | ||||||
500 | BML, Inc. | 12,869 | ||||||
2,100 | Bookoff Corp. | 15,187 | ||||||
27,000 | Bunka Shutter Co. Ltd. | 153,716 | ||||||
500 | C Uyemura & Co. Ltd. | 20,413 | ||||||
4,600 | CAC Corp. | 47,706 | ||||||
63,000 | Calsonic Kansei Corp. | 299,215 | ||||||
20 | Can Do Co. Ltd. | 36,539 | ||||||
8,600 | Canon Electronics, Inc. | 174,938 | ||||||
11,400 | Canon Marketing Japan, Inc. | 166,056 | ||||||
17,100 | Casio Computer Co. Ltd.(b) | 141,557 | ||||||
9,900 | Cawachi Ltd. | 222,505 | ||||||
137,000 | Central Glass Co. Ltd. | 483,438 | ||||||
2,000 | Central Security Patrols Co. Ltd. | 18,752 | ||||||
1,000 | Central Sports Co. Ltd. | 15,961 | ||||||
22,650 | Century Tokyo Leasing Corp. | 667,755 | ||||||
17,700 | Chiba Kogyo Bank Ltd. (The)(b) | 160,505 | ||||||
19,000 | Chino Corp. | 43,073 | ||||||
8,400 | Chiyoda Co. Ltd. | 242,388 | ||||||
4,200 | Chiyoda Integre Co. Ltd. | 61,437 | ||||||
500 | Chofu Seisakusho Co. Ltd. | 11,576 | ||||||
4,600 | Chori Co. Ltd. | 51,858 | ||||||
12,400 | Chubu Shiryo Co. Ltd. | 71,740 | ||||||
40,000 | Chuetsu Pulp & Paper Co. Ltd. | 61,548 | ||||||
153,000 | Chugai Mining Co. Ltd.(b) | 65,918 | ||||||
28,000 | Chugai Ro Co. Ltd. | 74,104 | ||||||
29,000 | Chugoku Bank Ltd. (The) | 504,529 | ||||||
27,000 | Chugoku Marine Paints Ltd. | 135,990 | ||||||
52,000 | Chukyo Bank Ltd. (The) | 109,884 | ||||||
5,500 | Chuo Denki Kogyo Co. Ltd. | 19,690 | ||||||
7,000 | Chuo Spring Co. Ltd. | 24,199 | ||||||
76,900 | Citizen Holdings Co. Ltd. | 453,583 | ||||||
24,700 | CKD Corp. | 180,148 | ||||||
48,000 | Clarion Co. Ltd.(b) | 67,949 | ||||||
11,000 | Cleanup Corp. | 83,387 | ||||||
2,000 | CMIC Holdings Co. Ltd. | 43,494 | ||||||
23,400 | CMK Corp.(b) | 81,132 | ||||||
22,200 | Coca-Cola Central Japan Co. Ltd. | 334,759 | ||||||
15,100 | Coca-Cola West Co. Ltd. | 280,826 | ||||||
11,890 | Cocokara Fine, Inc. | 448,840 | ||||||
4,100 | Computer Engineering & Consulting Ltd. | 28,725 | ||||||
4,400 | Computer Institute of Japan Ltd. | 19,363 | ||||||
71,300 | COMSYS Holdings Corp. | 943,499 | ||||||
4,000 | Co-Op Chemical Co. Ltd.(b) | 5,416 | ||||||
8,600 | Corona Corp. | 96,776 | ||||||
7,000 | Cosel Co. Ltd. | 80,351 | ||||||
234,000 | Cosmo Oil Co. Ltd.(b) | 556,886 |
Shares | Value | |||||||
JAPAN (continued) | ||||||||
3,500 | Cosmos Pharmaceutical Corp. | $ | 390,265 | |||||
2,700 | Create Medic Co. Ltd. | 24,650 | ||||||
600 | Create SD Holdings Co. Ltd. | 26,619 | ||||||
5,300 | CTI Engineering Co. Ltd. | 38,329 | ||||||
23 | Cybernet Systems Co. Ltd. | 7,456 | ||||||
22,000 | Dai Nippon Toryo Co. Ltd. | 40,396 | ||||||
6,100 | Daibiru Corp. | 84,287 | ||||||
200,000 | Daicel Corp. | 1,610,504 | ||||||
9,000 | Dai-Dan Co. Ltd. | 47,730 | ||||||
17,000 | Daido Kogyo Co. Ltd. | 28,948 | ||||||
13,000 | Daido Metal Co. Ltd. | 102,816 | ||||||
109,000 | Daido Steel Co. Ltd. | 592,604 | ||||||
7,300 | Daidoh Ltd. | 50,172 | ||||||
33,950 | Daiei, Inc. (The)(b) | 133,035 | ||||||
1,000 | Daihatsu Diesel Manufacturing Co. Ltd. | 5,211 | ||||||
21,000 | Daihen Corp. | 63,764 | ||||||
43,000 | Daiho Corp.(b) | 56,460 | ||||||
22,000 | Daiichi Jitsugyo Co. Ltd. | 110,807 | ||||||
600 | Daiichi Kigenso Kagaku-Kogyo Co. Ltd. | 11,232 | ||||||
28,000 | Dai-Ichi Kogyo Seiyaku Co. Ltd. | 72,093 | ||||||
4,300 | Dai-ichi Seiko Co. Ltd. | 62,900 | ||||||
2,200 | Daiichikosho Co. Ltd. | 65,423 | ||||||
27,000 | Daiken Corp. | 73,673 | ||||||
19,000 | Daiki Aluminium Industry Co. Ltd. | 41,514 | ||||||
2,200 | Daiko Clearing Services Corp. | 17,287 | ||||||
1,700 | Daikoku Denki Co. Ltd. | 45,183 | ||||||
1,000 | Daikokutenbussan Co. Ltd. | 27,358 | ||||||
148,000 | Daikyo, Inc. | 570,837 | ||||||
5,300 | Dainichi Co. Ltd. | 44,418 | ||||||
39,000 | Dainichiseika Color & Chemicals Manufacturing Co. Ltd. | 181,628 | ||||||
26,000 | Daio Paper Corp. | 155,757 | ||||||
44,000 | Daisan Bank Ltd. (The) | 79,438 | ||||||
11,910 | Daiseki Co. Ltd. | 227,852 | ||||||
62,000 | Daishi Bank Ltd. (The) | 244,858 | ||||||
11,000 | Daishinku Corp. | 34,528 | ||||||
26,000 | Daiso Co. Ltd. | 76,278 | ||||||
2,200 | Daisyo Corp. | 27,984 | ||||||
55,000 | Daito Bank Ltd. (The) | 56,419 | ||||||
5,200 | Daito Electron Co. Ltd. | 23,897 | ||||||
13,000 | Daiwa Industries Ltd. | 81,479 | ||||||
91,000 | Daiwabo Holdings Co. Ltd. | 171,760 | ||||||
66 | Daiwahouse Residential Investment Corp. REIT | 280,966 | ||||||
10,400 | DC Co. Ltd. | 34,671 | ||||||
63,060 | DCM Holdings Co. Ltd. | 622,288 | ||||||
211,000 | Denki Kagaku Kogyo KK | 770,539 | ||||||
25,000 | Denki Kogyo Co. Ltd. | 115,915 | ||||||
12,600 | Denyo Co. Ltd. | 182,243 | ||||||
19,000 | Descente Ltd. | 122,203 | ||||||
151,000 | DIC Corp. | 337,672 |
32 |
|
Old Westbury Funds, Inc. | |
Global Small & Mid Cap Fund | |
Portfolio of Investments - (Continued) | April 30, 2013 |
(Unaudited) |
Shares | Value | |||||||
JAPAN (continued) | ||||||||
12 | Digital Garage, Inc. | $ | 43,945 | |||||
3,200 | Disco Corp. | 206,473 | ||||||
10,700 | Doshisha Co. Ltd. | 168,592 | ||||||
4,574 | Doutor Nichires Holdings Co. Ltd. | 65,219 | ||||||
71,000 | Dowa Holdings Co. Ltd. | 508,365 | ||||||
12 | Dr Ci:Labo Co. Ltd. | 36,449 | ||||||
6 | Dream Incubator, Inc.(b) | 11,362 | ||||||
6,800 | DTS Corp. | 113,909 | ||||||
6,600 | Dunlop Sports Co. Ltd. | 81,920 | ||||||
40,300 | Duskin Co. Ltd. | 817,699 | ||||||
4,400 | Dydo Drinco, Inc. | 196,789 | ||||||
18,000 | Dynic Corp. | 34,159 | ||||||
11,000 | Eagle Industry Co. Ltd. | 107,647 | ||||||
900 | Earth Chemical Co. Ltd. | 31,805 | ||||||
242,000 | Ebara Corp. | 1,012,833 | ||||||
300 | Echo Trading Co. Ltd. | 2,530 | ||||||
35,600 | EDION Corp. | 166,524 | ||||||
66,000 | Ehime Bank Ltd. (The) | 169,934 | ||||||
11,000 | Eidai Co. Ltd. | 54,275 | ||||||
77,000 | Eighteenth Bank Ltd. (The) | 198,256 | ||||||
6,400 | Eiken Chemical Co. Ltd. | 105,501 | ||||||
5,200 | Eizo Corp. | 89,934 | ||||||
2,100 | Elematec Corp. | 28,241 | ||||||
1,900 | Enplas Corp. | 110,314 | ||||||
28 | EPS Corp. | 44,319 | ||||||
17,500 | ESPEC Corp. | 145,227 | ||||||
2,800 | Excel Co. Ltd. | 28,292 | ||||||
12,300 | Exedy Corp. | 307,863 | ||||||
12,000 | Ezaki Glico Co. Ltd. | 134,667 | ||||||
3,100 | F&A Aqua Holdings, Inc. | 62,041 | ||||||
381 | Faith, Inc. | 45,766 | ||||||
3,000 | Falco SD Holdings Co. Ltd. | 38,006 | ||||||
10,100 | Fancl Corp. | 110,236 | ||||||
486,300 | FCC Co. Ltd.(d) | 12,316,507 | ||||||
800 | Felissimo Corp. | 9,684 | ||||||
19,300 | Ferrotec Corp. | 80,578 | ||||||
54,200 | FIDEA Holdings Co. Ltd. | 137,328 | ||||||
3,900 | Fields Corp. | 79,012 | ||||||
5,000 | First Baking Co. Ltd.(b) | 7,642 | ||||||
15,100 | Foster Electric Co. Ltd. | 205,856 | ||||||
4,300 | FP Corp. | 285,387 | ||||||
34,000 | France Bed Holdings Co. Ltd. | 74,288 | ||||||
2,900 | F-Tech, Inc. | 45,009 | ||||||
5,900 | Fuji Co. Ltd. | 108,153 | ||||||
10,600 | Fuji Corp. Ltd. | 70,243 | ||||||
220,000 | Fuji Electric Co. Ltd. | 751,500 | ||||||
7,500 | Fuji Electronics Co. Ltd. | 95,015 | ||||||
13,000 | Fuji Kiko Co. Ltd. | 45,874 | ||||||
16,000 | Fuji Kyuko Co. Ltd. | 150,177 | ||||||
26,600 | Fuji Oil Co. Ltd. | 421,845 | ||||||
7,400 | Fuji Soft, Inc. | 197,516 | ||||||
36,000 | Fujibo Holdings, Inc. | 101,185 | ||||||
5,600 | Fujicco Co. Ltd. | 64,396 | ||||||
12,100 | Fujikura Kasei Co. Ltd. | 50,021 | ||||||
111,000 | Fujikura Ltd. | 415,602 |
Shares | Value | |||||||
JAPAN (continued) | ||||||||
3,000 | Fujikura Rubber Ltd. | $ | 9,109 | |||||
8,500 | Fujimori Kogyo Co. Ltd. | 271,170 | ||||||
2,000 | Fujita Kanko, Inc. | 10,648 | ||||||
47,000 | Fujitec Co. Ltd. | 508,160 | ||||||
2,600 | Fujitsu Frontech Ltd. | 17,335 | ||||||
18,000 | Fujitsu General Ltd. | 175,596 | ||||||
7,700 | FuKoKu Co. Ltd. | 72,352 | ||||||
19,000 | Fukuda Corp. | 76,207 | ||||||
81,000 | Fukui Bank Ltd. (The) | 169,503 | ||||||
65,000 | Fukushima Bank Ltd. (The) | 60,009 | ||||||
2,600 | Fukushima Industries Corp. | 70,464 | ||||||
105,000 | Fukuyama Transporting Co. Ltd. | 584,859 | ||||||
7,800 | Funai Consulting Ltd. | 59,769 | ||||||
7,000 | Funai Electric Co. Ltd.(b) | 86,670 | ||||||
48,000 | Furukawa Co. Ltd. | 61,548 | ||||||
201,000 | Furukawa Electric Co. Ltd. | 507,216 | ||||||
55,000 | Furukawa-Sky Aluminum Corp. | 169,821 | ||||||
5,800 | Furuno Electric Co. Ltd. | 45,872 | ||||||
4,000 | Furusato Industries Ltd. | 40,006 | ||||||
13,000 | Fuso Pharmaceutical Industries Ltd. | 55,075 | ||||||
27,700 | Futaba Corp. | 385,587 | ||||||
24,700 | Futaba Industrial Co. Ltd.(b) | 114,778 | ||||||
3 | Future Architect, Inc. | 1,511 | ||||||
14,300 | Fuyo General Lease Co. Ltd. | 649,833 | ||||||
900 | G-7 Holdings, Inc. | 6,841 | ||||||
20,000 | Gakken Holdings Co. Ltd. | 62,984 | ||||||
6,400 | Gecoss Corp. | 50,092 | ||||||
108 | Geo Holdings Corp. | 128,955 | ||||||
12,700 | Glory Ltd. | 349,011 | ||||||
16,800 | GMO internet, Inc. | 219,898 | ||||||
59,000 | Godo Steel Ltd. | 96,835 | ||||||
6,480 | Goldcrest Co. Ltd. | 213,042 | ||||||
32,000 | Goldwin, Inc. | 185,136 | ||||||
2,000 | Gourmet Kineya Co. Ltd. | 14,136 | ||||||
3,100 | Gree, Inc. | 39,718 | ||||||
114,000 | GS Yuasa Corp. | 482,967 | ||||||
36,000 | GSI Creos Corp. | 52,439 | ||||||
500 | G-Tekt Corp. | 15,746 | ||||||
20,900 | Gulliver International Co. Ltd. | 167,655 | ||||||
28,000 | Gun-Ei Chemical Industry Co. Ltd. | 65,487 | ||||||
110,000 | Gunma Bank Ltd. (The) | 698,466 | ||||||
74,000 | Gunze Ltd. | 192,809 | ||||||
6,600 | H.I.S. Co. Ltd. | 284,351 | ||||||
65,000 | H2O Retailing Corp. | 724,111 | ||||||
5,800 | Hakudo Co. Ltd. | 47,538 | ||||||
10,630 | Hakuhodo DY Holdings, Inc. | 875,611 | ||||||
9,600 | Hakuto Co. Ltd. | 98,083 | ||||||
1,400 | Hamakyorex Co. Ltd. | 49,618 | ||||||
600 | Hamamatsu Photonics KK | 24,650 | ||||||
172,000 | Hanwa Co. Ltd. | 647,525 | ||||||
2,000 | Happinet Corp. | 15,982 | ||||||
5,100 | Harashin Narus Holdings Co. Ltd. | 91,082 |
33 |
|
Old Westbury Funds, Inc. | |
Global Small & Mid Cap Fund | |
Portfolio of Investments - (Continued) | April 30, 2013 |
(Unaudited) |
Shares | Value | |||||||
JAPAN (continued) | ||||||||
7,400 | Hard Off Corp. Co. Ltd. | $ | 49,872 | |||||
8,400 | Harima Chemicals Group, Inc. | 40,499 | ||||||
1,300 | Haruyama Trading Co. Ltd. | 9,735 | ||||||
160,500 | Haseko Corp.(b) | 233,790 | ||||||
93,930 | Hazama Ando Corp. | 220,649 | ||||||
15,600 | Heiwa Corp. | 323,090 | ||||||
15,900 | Heiwa Real Estate Co. Ltd. | 402,862 | ||||||
12,300 | Heiwado Co. Ltd. | 221,560 | ||||||
20,900 | Hibiya Engineering Ltd. | 204,530 | ||||||
4,200 | Hiday Hidaka Corp. | 85,176 | ||||||
10,000 | Higashi Nihon House Co. Ltd. | 86,885 | ||||||
54,000 | Higashi-Nippon Bank Ltd. (The) | 136,821 | ||||||
69,000 | Higo Bank Ltd. (The) | 467,149 | ||||||
14,200 | Hikari Tsushin, Inc. | 773,473 | ||||||
1,300 | Hioki EE Corp. | 20,803 | ||||||
13,000 | Hiroshima Bank Ltd. (The) | 68,411 | ||||||
20,000 | Hisaka Works Ltd. | 185,875 | ||||||
159,000 | Hitachi Cable Ltd.(b) | 275,642 | ||||||
18,900 | Hitachi Capital Corp. | 470,343 | ||||||
11,600 | Hitachi Koki Co. Ltd. | 100,549 | ||||||
11,000 | Hitachi Kokusai Electric, Inc. | 129,312 | ||||||
14,000 | Hitachi Medical Corp. | 223,029 | ||||||
21,800 | Hitachi Transport System Ltd. | 346,170 | ||||||
212,000 | Hitachi Zosen Corp. | 352,300 | ||||||
5,000 | Hochiki Corp. | 23,850 | ||||||
16,000 | Hodogaya Chemical Co. Ltd. | 36,108 | ||||||
20,200 | Hogy Medical Co. Ltd. | 1,243,268 | ||||||
5,000 | Hokkaido Coca-Cola Bottling Co. Ltd. | 24,722 | ||||||
26,100 | Hokkaido Electric Power Co., Inc.(b) | 330,651 | ||||||
10,000 | Hokkaido Gas Co. Ltd. | 26,158 | ||||||
28,000 | Hokkan Holdings Ltd. | 85,880 | ||||||
4,000 | Hokko Chemical Industry Co. Ltd. | 13,951 | ||||||
111,000 | Hokkoku Bank Ltd. (The) | 470,257 | ||||||
107,000 | Hokuetsu Bank Ltd. (The) | 251,351 | ||||||
97,865 | Hokuetsu Kishu Paper Co. Ltd. | 434,688 | ||||||
393,000 | Hokuhoku Financial Group, Inc. | 915,125 | ||||||
8,000 | Hokuriku Electric Industry Co. Ltd. | 10,012 | ||||||
21,100 | Hokuriku Electric Power Co. | 310,380 | ||||||
6,800 | Hokuto Corp. | 130,999 | ||||||
800 | H-One Co. Ltd. | 9,823 | ||||||
7,320 | Honeys Co. Ltd. | 94,687 | ||||||
195,200 | Horiba Ltd. | 7,048,305 | ||||||
9,900 | Hoshizaki Electric Co. Ltd. | 329,543 | ||||||
18,500 | Hosiden Corp. | 105,514 | ||||||
26,000 | Hosokawa Micron Corp. | 232,569 | ||||||
44,500 | House Foods Corp. | 775,104 | ||||||
87,000 | Howa Machinery Ltd. | 115,125 | ||||||
1,000 | Hurxley Corp. | 7,970 | ||||||
200 | Hutech Norin Co. Ltd. | 2,006 | ||||||
67,000 | Hyakugo Bank Ltd. (The) | 334,708 |
Shares | Value | |||||||
JAPAN (continued) | ||||||||
82,000 | Hyakujushi Bank Ltd. (The) | $ | 323,845 | |||||
2,000 | I Metal Technology Co. Ltd. | 3,426 | ||||||
39,200 | Ibiden Co. Ltd. | 685,603 | ||||||
7,300 | IBJ Leasing Co. Ltd. | 256,101 | ||||||
2,400 | Ichibanya Co. Ltd. | 106,970 | ||||||
78 | Ichigo Group Holdings Co. Ltd. | 80,652 | ||||||
21,000 | Ichikoh Industries Ltd.(b) | 31,451 | ||||||
7,300 | ICHINEN Holdings Co. Ltd. | 53,766 | ||||||
5,800 | Ichiyoshi Securities Co. Ltd. | 84,306 | ||||||
2,300 | Icom, Inc. | 56,907 | ||||||
9,700 | Idec Corp. | 86,368 | ||||||
20,000 | Ihara Chemical Industry Co. Ltd. | 136,636 | ||||||
19,500 | Iino Kaiun Kaisha Ltd. | 135,421 | ||||||
6,600 | Imasen Electric Industrial | 76,572 | ||||||
10,400 | Inaba Denki Sangyo Co. Ltd. | 306,394 | ||||||
3,200 | Inaba Seisakusho Co. Ltd. | 46,218 | ||||||
21,600 | Inabata & Co. Ltd. | 169,060 | ||||||
10,800 | Inageya Co. Ltd. | 112,116 | ||||||
25 | Industrial & Infrastructure Fund Investment Corp. REIT | 265,425 | ||||||
12,200 | Ines Corp. | 91,608 | ||||||
600 | I-Net Corp. | 4,450 | ||||||
6,200 | Information Services International-Dentsu Ltd. | 73,139 | ||||||
10,300 | Innotech Corp. | 45,221 | ||||||
700 | Intage, Inc. | 18,727 | ||||||
7,000 | Internet Initiative Japan, Inc. | 281,479 | ||||||
16,000 | Inui Steamship Co. Ltd.(b) | 70,247 | ||||||
800 | Iriso Electronics Co. Ltd. | 17,997 | ||||||
1,000 | Ise Chemical Corp. | 8,309 | ||||||
145,000 | Ishihara Sangyo Kaisha Ltd.(b) | 127,917 | ||||||
14,000 | Ishizuka Glass Co. Ltd. | 27,430 | ||||||
31,066 | IT Holdings Corp. | 466,540 | ||||||
4,500 | ITC Networks Corp. | 40,714 | ||||||
14,000 | Ito En Ltd. | 336,770 | ||||||
29,000 | Itochu Enex Co. Ltd. | 159,748 | ||||||
2,000 | Itochu-Shokuhin Co. Ltd. | 74,268 | ||||||
71,000 | Itoham Foods, Inc. | 326,286 | ||||||
13,000 | Itoki Corp. | 81,479 | ||||||
8,400 | Iwai Cosmo Holdings, Inc. | 129,768 | ||||||
11,000 | Iwaki & Co. Ltd. | 25,049 | ||||||
27,000 | Iwasaki Electric Co. Ltd.(b) | 56,778 | ||||||
63,000 | Iwatani Corp. | 279,828 | ||||||
42,000 | Iwatsu Electric Co. Ltd. | 48,684 | ||||||
130,000 | Iyo Bank Ltd. (The) | 1,360,209 | ||||||
20,100 | Izumi Co. Ltd. | 542,062 | ||||||
26,000 | Izumiya Co. Ltd. | 130,153 | ||||||
46,000 | Izutsuya Co. Ltd.(b) | 51,434 | ||||||
900 | Jalux, Inc. | 8,946 | ||||||
98,000 | Janome Sewing Machine Co. Ltd.(b) | 85,449 | ||||||
17,200 | Japan Airport Terminal Co. Ltd. | 265,362 | ||||||
23,000 | Japan Aviation Electronics Industry Ltd. | 198,184 | ||||||
7,600 | Japan Carlit Co. Ltd. | 52,857 |
34 |
|
Old Westbury Funds, Inc. | |
Global Small & Mid Cap Fund | |
Portfolio of Investments - (Continued) | April 30, 2013 |
(Unaudited) |
Shares | Value | |||||||
JAPAN (continued) | ||||||||
3,600 | Japan Cash Machine Co. Ltd. | $ | 64,995 | |||||
10,400 | Japan Digital Laboratory Co. Ltd. | 127,806 | ||||||
2,900 | Japan Electronic Materials Corp. | 11,602 | ||||||
20,300 | Japan Foundation Engineering Co. Ltd. | 69,343 | ||||||
6,400 | Japan Medical Dynamic Marketing, Inc. | 20,221 | ||||||
4,700 | Japan Petroleum Exploration Co. | 185,859 | ||||||
50,000 | Japan Pulp & Paper Co. Ltd. | 152,844 | ||||||
23,000 | Japan Radio Co. Ltd.(b) | 87,060 | ||||||
92,000 | Japan Steel Works Ltd. (The) | 466,205 | ||||||
22,000 | Japan Transcity Corp. | 87,337 | ||||||
8,000 | Japan Vilene Co. Ltd. | 40,047 | ||||||
38,000 | Japan Wool Textile Co. Ltd. (The) | 327,825 | ||||||
6,500 | Jastec Co. Ltd. | 46,474 | ||||||
10,000 | JBCC Holdings, Inc. | 93,553 | ||||||
13,000 | Jidosha Buhin Kogyo Co. Ltd. | 66,677 | ||||||
3,500 | Jimoto Holdings, Inc. | 8,473 | ||||||
1,400 | JK Holdings Co. Ltd. | 9,651 | ||||||
12,000 | JMS Co. Ltd. | 46,776 | ||||||
41,000 | J-Oil Mills, Inc. | 127,435 | ||||||
20,000 | Joshin Denki Co. Ltd. | 179,104 | ||||||
8,000 | JSP Corp. | 116,777 | ||||||
100,000 | Juroku Bank Ltd. (The) | 424,681 | ||||||
4,000 | Justsystems Corp.(b) | 24,783 | ||||||
32,510 | JVC Kenwood Corp. | 84,039 | ||||||
2,000 | Kabuki-Za Co. Ltd. | 101,452 | ||||||
7,600 | Kadokawa Group Holdings, Inc. | 238,170 | ||||||
7,400 | Kaga Electronics Co. Ltd. | 60,575 | ||||||
20,100 | Kagome Co. Ltd. | 362,268 | ||||||
70,000 | Kagoshima Bank Ltd. (The) | 511,976 | ||||||
22,600 | Kakaku.com, Inc. | 583,286 | ||||||
28,000 | Kaken Pharmaceutical Co. Ltd. | 496,610 | ||||||
5,800 | Kameda Seika Co. Ltd. | 151,894 | ||||||
10,000 | Kamei Corp. | 101,144 | ||||||
91,000 | Kamigumi Co. Ltd. | 851,331 | ||||||
14,000 | Kanaden Corp. | 90,188 | ||||||
10,000 | Kanagawa Chuo Kotsu Co. Ltd. | 65,549 | ||||||
21,000 | Kanamoto Co. Ltd. | 485,121 | ||||||
13,000 | Kandenko Co. Ltd. | 58,942 | ||||||
97,000 | Kaneka Corp. | 583,085 | ||||||
81,000 | Kanematsu Corp.(b) | 112,171 | ||||||
12,300 | Kanematsu Electronics Ltd. | 152,670 | ||||||
16,000 | Kanto Natural Gas Development Ltd. | 107,832 | ||||||
50 | Kappa Create Holdings Co. Ltd.(b) | 941 | ||||||
18,000 | Kasai Kogyo Co. Ltd. | 88,998 | ||||||
16,800 | Kasumi Co. Ltd. | 120,634 | ||||||
5,000 | Katakura Industries Co. Ltd. | 86,526 | ||||||
11,900 | Kato Sangyo Co. Ltd. | 252,319 | ||||||
50,000 | Kato Works Co. Ltd. | 183,618 |
Shares | Value | |||||||
JAPAN (continued) | ||||||||
2,400 | KAWADA Technologies, Inc. | $ | 64,330 | |||||
32,000 | Kawai Musical Instruments Manufacturing Co. Ltd. | 58,430 | ||||||
8,000 | Kawasaki Kinkai Kisen Kaisha Ltd. | 24,537 | ||||||
350,000 | Kawasaki Kisen Kaisha Ltd.(b) | 768,323 | ||||||
7,000 | Kawasumi Laboratories, Inc. | 52,347 | ||||||
42,000 | Keihan Electric Railway Co. Ltd. | 180,520 | ||||||
15,900 | Keihanshin Building Co. Ltd. | 123,958 | ||||||
3,000 | Keihin Co. Ltd. (The) | 6,155 | ||||||
10,600 | Keihin Corp. | 173,106 | ||||||
159,000 | Keiyo Bank Ltd. (The) | 976,981 | ||||||
13,300 | Keiyo Co. Ltd. | 67,261 | ||||||
2,000 | Kentucky Fried Chicken Japan Ltd. | 43,473 | ||||||
36,200 | Kewpie Corp. | 546,240 | ||||||
6,525 | KEY Coffee, Inc. | 102,609 | ||||||
11,200 | Kimoto Co. Ltd. | 89,499 | ||||||
49,000 | Kinden Corp. | 356,875 | ||||||
600 | King Jim Co. Ltd. | 4,862 | ||||||
7,000 | Kinki Sharyo Co. Ltd. | 22,475 | ||||||
7,200 | Kintetsu World Express, Inc. | 258,871 | ||||||
18,000 | Kinugawa Rubber Industrial Co. Ltd. | 94,168 | ||||||
5,900 | Kisoji Co. Ltd. | 117,292 | ||||||
13,900 | Kissei Pharmaceutical Co. Ltd. | 301,427 | ||||||
66,000 | Kitagawa Iron Works Co. Ltd. | 114,418 | ||||||
4,400 | Kita-Nippon Bank Ltd. (The) | 113,154 | ||||||
21,000 | Kitano Construction Corp. | 46,961 | ||||||
31,000 | Kitz Corp. | 178,715 | ||||||
281,000 | Kiyo Holdings, Inc. | 490,024 | ||||||
29,600 | Koa Corp. | 318,515 | ||||||
22,000 | Koatsu Gas Kogyo Co. Ltd. | 120,059 | ||||||
8,200 | Kobayashi Pharmaceutical Co. Ltd. | 447,494 | ||||||
4,000 | Kobe Steel Ltd.(b) | 5,211 | ||||||
24,000 | Kohnan Shoji Co. Ltd. | 294,691 | ||||||
1,300 | Kohsoku Corp. | 11,735 | ||||||
13,000 | Koike Sanso Kogyo Co. Ltd. | 30,271 | ||||||
33,000 | Koito Manufacturing Co. Ltd. | 637,083 | ||||||
17,500 | Kojima Co. Ltd. | 59,599 | ||||||
35,700 | Kokuyo Co. Ltd. | 287,475 | ||||||
23,000 | KOMAIHALTEC, Inc. | 58,276 | ||||||
5,000 | Komatsu Seiren Co. Ltd. | 25,748 | ||||||
4,300 | Komatsu Wall Industry Co. Ltd. | 103,613 | ||||||
11,700 | Komeri Co. Ltd. | 363,656 | ||||||
12,300 | Komori Corp. | 152,165 | ||||||
9,800 | Konaka Co. Ltd. | 135,613 | ||||||
7,700 | Konami Corp. | 175,508 | ||||||
9,700 | Konishi Co.Ltd. | 179,900 | ||||||
6,500 | Kose Corp. | 169,559 | ||||||
1,600 | Kourakuen Corp. | 20,286 | ||||||
39,000 | Krosaki Harima Corp. | 88,014 | ||||||
4,200 | KRS Corp. | 41,877 | ||||||
13,828 | K’s Holdings Corp. | 486,537 |
35 |
|
Old Westbury Funds, Inc. | |
Global Small & Mid Cap Fund | |
Portfolio of Investments - (Continued) | April 30, 2013 |
(Unaudited) |
Shares | Value | |||||||
JAPAN (continued) | ||||||||
800 | KU Holdings Co. Ltd. | $ | 7,713 | |||||
79,000 | Kumagai Gumi Co. Ltd.(b) | 95,625 | ||||||
7,000 | Kumiai Chemical Industry Co. Ltd. | 46,387 | ||||||
2,100 | Kura Corp. | 37,030 | ||||||
96,000 | Kurabo Industries Ltd. | 180,212 | ||||||
46,000 | Kureha Corp. | 162,322 | ||||||
40,000 | Kurimoto Ltd. | 136,636 | ||||||
1,600 | Kurita Water Industries Ltd. | 32,809 | ||||||
23,400 | Kuroda Electric Co. Ltd. | 310,128 | ||||||
72,000 | KYB Co. Ltd. | 392,183 | ||||||
34,000 | Kyodo Printing Co. Ltd. | 128,697 | ||||||
41,000 | Kyodo Shiryo Co. Ltd. | 50,049 | ||||||
7,400 | Kyoei Steel Ltd. | 141,191 | ||||||
5,000 | Kyokuto Boeki Kaisha Ltd.(b) | 12,566 | ||||||
13,600 | Kyokuto Kaihatsu Kogyo Co. Ltd. | 142,299 | ||||||
5,200 | Kyokuto Securities Co. Ltd. | 97,402 | ||||||
26,000 | Kyokuyo Co. Ltd. | 65,877 | ||||||
30,000 | KYORIN Holdings, Inc. | 801,354 | ||||||
4,500 | Kyoritsu Maintenance Co. Ltd. | 135,852 | ||||||
40,000 | Kyosan Electric Manufacturing Co. Ltd. | 132,533 | ||||||
2,400 | Kyoto Kimono Yuzen Co. Ltd. | 26,293 | ||||||
64,000 | Kyowa Exeo Corp. | 754,331 | ||||||
1,600 | Kyowa Leather Cloth Co. Ltd. | 5,383 | ||||||
24,000 | Kyudenko Corp. | 112,263 | ||||||
1,400 | Lasertec Corp. | 34,165 | ||||||
2,700 | LEC, Inc. | 35,701 | ||||||
8,600 | Life Corp. | 119,889 | ||||||
19,500 | Lintec Corp. | 354,655 | ||||||
54,000 | Lion Corp. | 315,187 | ||||||
25,000 | Look, Inc. | 95,656 | ||||||
4,300 | Mabuchi Motor Co. Ltd. | 232,456 | ||||||
4,500 | Macnica, Inc. | 91,860 | ||||||
6,000 | MacroMill, Inc. | 85,798 | ||||||
50,000 | Maeda Corp. | 239,011 | ||||||
47,000 | Maeda Road Construction Co. Ltd. | 709,207 | ||||||
5,000 | Maezawa Kasei Industries Co. Ltd. | 55,085 | ||||||
5,000 | Maezawa Kyuso Industries Co. Ltd. | 68,780 | ||||||
78,000 | Makino Milling Machine Co. Ltd. | 462,471 | ||||||
6,000 | Mandom Corp. | 219,418 | ||||||
4,900 | Mars Engineering Corp. | 109,375 | ||||||
11,900 | Marubun Corp. | 54,443 | ||||||
95,000 | Marudai Food Co. Ltd. | 314,766 | ||||||
14,000 | Maruei Department Store Co. Ltd.(b) | 16,659 | ||||||
13,000 | Maruetsu, Inc. (The) | 46,540 | ||||||
4,000 | Marufuji Sheet Piling Co. Ltd. | 9,848 | ||||||
30,910 | Maruha Nichiro Holdings, Inc. | 61,830 | ||||||
200 | Marui Group Co. Ltd. | 2,318 | ||||||
20,200 | Maruichi Steel Tube Ltd. | 508,911 |
Shares | Value | |||||||
JAPAN (continued) | ||||||||
22,900 | Marusan Securities Co. Ltd. | $ | 194,034 | |||||
2,900 | Maruwa Co. Ltd. | 88,263 | ||||||
20,000 | Maruyama Manufacturing Co., Inc. | 58,471 | ||||||
900 | Maruzen CHI Holdings Co. Ltd.(b) | 2,530 | ||||||
25,000 | Maruzen Showa Unyu Co. Ltd. | 89,501 | ||||||
64 | Marvelous AQL, Inc. | 36,371 | ||||||
6,500 | Matsuda Sangyo Co. Ltd. | 94,081 | ||||||
7,000 | Matsui Securities Co. Ltd. | 87,962 | ||||||
22,000 | Matsumotokiyoshi Holdings Co. Ltd. | 628,733 | ||||||
2,700 | Matsuya Foods Co. Ltd. | 44,979 | ||||||
12,000 | Max Co. Ltd. | 136,760 | ||||||
3,700 | Maxvalu Tokai Co. Ltd. | 50,935 | ||||||
2,400 | MEC Co. Ltd. | 15,756 | ||||||
83,500 | Medipal Holdings Corp. | 1,309,653 | ||||||
3,500 | Megachips Corp.(b) | 52,957 | ||||||
7,850 | Megane TOP Co. Ltd. | 112,977 | ||||||
19,000 | Megmilk Snow Brand Co. Ltd. | 291,768 | ||||||
65,000 | Meidensha Corp. | 194,030 | ||||||
3,000 | Meiko Electronics Co. Ltd. | 21,111 | ||||||
6,700 | Meiko Network Japan Co. Ltd. | 92,921 | ||||||
10,700 | Meitec Corp. | 275,170 | ||||||
200 | Meito Transportation Co. Ltd. | 1,319 | ||||||
20,900 | Meiwa Corp. | 90,045 | ||||||
10,100 | Meiwa Estate Co. Ltd.(b) | 63,925 | ||||||
4,500 | Melco Holdings, Inc. | 74,134 | ||||||
63,000 | Michinoku Bank Ltd. (The) | 152,516 | ||||||
44,000 | Mie Bank Ltd. (The) | 105,616 | ||||||
13,700 | Mikuni Coca-Cola Bottling Co. Ltd. | 162,177 | ||||||
2,448 | Milbon Co. Ltd. | 92,787 | ||||||
6,300 | Mimasu Semiconductor Industry Co. Ltd. | 63,721 | ||||||
72,000 | Minato Bank Ltd. (The) | 132,205 | ||||||
52,000 | Minebea Co. Ltd. | 165,892 | ||||||
12,600 | Ministop Co. Ltd. | 217,270 | ||||||
182,700 | Miraca Holdings, Inc. | 9,108,294 | ||||||
12,340 | Mirait Holdings Corp. | 133,166 | ||||||
8,500 | Misawa Homes Co. Ltd. | 151,890 | ||||||
23,300 | MISUMI Group, Inc. | 710,102 | ||||||
4,800 | Mitani Corp. | 85,429 | ||||||
8,000 | Mito Securities Co. Ltd. | 48,828 | ||||||
21,000 | Mitsuba Corp. | 249,023 | ||||||
21,000 | Mitsubishi Gas Chemical Co., Inc. | 160,271 | ||||||
13,000 | Mitsubishi Kakoki Kaisha Ltd.(b) | 26,537 | ||||||
22,000 | Mitsubishi Logistics Corp. | 392,901 | ||||||
18,000 | Mitsubishi Nichiyu Forklift Co. Ltd. | 70,534 | ||||||
83,000 | Mitsubishi Paper Mills Ltd. | 81,736 | ||||||
10,600 | Mitsubishi Pencil Co. Ltd. | 224,320 | ||||||
3,400 | Mitsubishi Shokuhin Co. Ltd. | 100,132 | ||||||
45,000 | Mitsubishi Steel Manufacturing Co. Ltd. | 96,476 |
36 |
|
Old Westbury Funds, Inc. | |
Global Small & Mid Cap Fund | |
Portfolio of Investments - (Continued) | April 30, 2013 |
(Unaudited) |
Shares | Value | |||||||
JAPAN (continued) | ||||||||
18,000 | Mitsuboshi Belting Co. Ltd. | $ | 96,569 | |||||
321,000 | Mitsui Chemicals, Inc. | 740,883 | ||||||
173,000 |
Mitsui Engineering &
Shipbuilding Co. Ltd. |
319,434 | ||||||
5,300 | Mitsui High-Tec, Inc. | 37,948 | ||||||
14,000 | Mitsui Home Co. Ltd. | 84,157 | ||||||
511 | Mitsui Knowledge Industry Co. Ltd. | 86,281 | ||||||
19,000 | Mitsui Matsushima Co. Ltd. | 36,642 | ||||||
246,000 | Mitsui Mining & Smelting Co. Ltd. | 552,639 | ||||||
66,000 | Mitsui Sugar Co. Ltd. | 207,170 | ||||||
22,000 | Mitsui-Soko Co. Ltd. | 149,623 | ||||||
38,800 | Mitsumi Electric Co. Ltd.(b) | 221,692 | ||||||
10,500 | Mitsuuroko Holdings Co. Ltd. | 54,070 | ||||||
130,300 | Miura Co. Ltd.(d) | 3,064,860 | ||||||
38,000 | Miyaji Engineering Group, Inc.(b) | 66,267 | ||||||
47,000 | Miyazaki Bank Ltd. (The) | 138,852 | ||||||
26,000 | Miyoshi Oil & Fat Co. Ltd. | 45,074 | ||||||
62,000 | Mizuno Corp. | 264,574 | ||||||
19,000 | Mochida Pharmaceutical Co. Ltd. | 252,593 | ||||||
2,200 | Modec, Inc. | 63,167 | ||||||
23 | Monex Group, Inc. | 10,357 | ||||||
45,600 | Mori Seiki Co. Ltd. | 571,608 | ||||||
34,000 | Morinaga & Co. Ltd. | 72,893 | ||||||
145,000 | Morinaga Milk Industry Co. Ltd. | 426,886 | ||||||
14,000 | Morita Holdings Corp. | 118,336 | ||||||
22,000 | Mory Industries, Inc. | 69,282 | ||||||
9,300 | MOS Food Services, Inc. | 185,456 | ||||||
14,500 | Moshi Moshi Hotline, Inc. | 214,484 | ||||||
11,900 | Mr Max Corp. | 41,992 | ||||||
2,000 | Murakami Corp. | 32,723 | ||||||
132,900 | Musashi Seimitsu Industry Co. Ltd. | 3,202,360 | ||||||
21,800 | Musashino Bank Ltd. (The) | 925,804 | ||||||
26,000 | Mutoh Holdings Co. Ltd. | 64,543 | ||||||
2,500 | NAC Co. Ltd. | 44,289 | ||||||
57,000 | Nachi-Fujikoshi Corp. | 253,762 | ||||||
5,500 | Nagaileben Co. Ltd. | 94,050 | ||||||
24,000 | Nagano Bank Ltd. (The) | 45,299 | ||||||
1,000 | Nagano Keiki Co. Ltd. | 7,324 | ||||||
91,400 | Nagase & Co. Ltd. | 1,168,225 | ||||||
7,000 | Nagatanien Co. Ltd. | 62,974 | ||||||
88,000 | Nagoya Railroad Co. Ltd. | 272,616 | ||||||
22,000 | Nakabayashi Co. Ltd. | 46,489 | ||||||
13,000 | Nakamuraya Co. Ltd. | 56,675 | ||||||
27,000 | Nakayama Steel Works Ltd.(b) | 19,665 | ||||||
11,200 | Namura Shipbuilding Co. Ltd. | 60,547 | ||||||
56,000 | Nankai Electric Railway Co. Ltd. | 224,609 | ||||||
85,000 | Nanto Bank Ltd. (The) | 375,801 | ||||||
3,600 | Natori Co. Ltd. | 34,713 | ||||||
16,000 | NDS Co. Ltd. | 49,567 | ||||||
9,600 | NEC Capital Solutions Ltd. | 354,024 |
Shares | Value | |||||||
JAPAN (continued) | ||||||||
7,400 | NEC Fielding Ltd. | $ | 97,619 | |||||
4,200 | NEC Mobiling Ltd. | 239,975 | ||||||
19,700 |
NEC Networks & System
Integration Corp. |
431,648 | ||||||
31,800 | NET One Systems Co. Ltd. | 278,252 | ||||||
27,200 | Neturen Co. Ltd. | 217,075 | ||||||
20,000 | NGK Spark Plug Co. Ltd. | 336,667 | ||||||
63,700 | NHK Spring Co. Ltd. | 688,719 | ||||||
26,000 | Nice Holdings, Inc. | 73,345 | ||||||
11,000 | Nichia Steel Works Ltd. | 37,124 | ||||||
38,000 | Nichias Corp. | 231,933 | ||||||
17,000 | Nichiban Co. Ltd. | 70,975 | ||||||
32,700 | Nichicon Corp. | 343,487 | ||||||
3,500 | Nichiden Corp. | 82,541 | ||||||
16,000 | Nichiha Corp. | 256,039 | ||||||
19,100 | Nichii Gakkan Co. | 194,164 | ||||||
22,000 | Nichimo Co. Ltd. | 47,392 | ||||||
125,000 | Nichirei Corp. | 734,728 | ||||||
18,000 | Nichireki Co. Ltd. | 131,282 | ||||||
6,500 | Nidec Copal Corp. | 53,275 | ||||||
5,600 | Nidec-Tosok Corp. | 46,760 | ||||||
466,300 | Nifco, Inc.(d) | 10,623,709 | ||||||
78 | NIFTY Corp. | 122,419 | ||||||
808 | Nihon Chouzai Co. Ltd. | 21,301 | ||||||
5,200 | Nihon Dempa Kogyo Co. Ltd. | 51,528 | ||||||
12,300 | Nihon Kohden Corp. | 472,519 | ||||||
3,000 | Nihon M&A Center, Inc. | 158,178 | ||||||
27,000 | Nihon Nohyaku Co. Ltd. | 256,747 | ||||||
24,000 | Nihon Parkerizing Co. Ltd. | 487,706 | ||||||
2,800 | Nihon Plast Co. Ltd. | 16,056 | ||||||
1,000 | Nihon Shokuhin Kako Co. Ltd. | 4,001 | ||||||
1,100 | Nihon Tokushu Toryo Co. Ltd. | 4,886 | ||||||
2,050 | Nihon Trim Co. Ltd. | 115,659 | ||||||
10,000 | Nihon Unisys Ltd. | 85,962 | ||||||
49,000 | Nihon Yamamura Glass Co. Ltd. | 97,010 | ||||||
29,000 | Nikkiso Co. Ltd. | 411,120 | ||||||
6,000 | Nikko Co. Ltd. | 23,573 | ||||||
55,000 | Nippo Corp. | 822,588 | ||||||
43,000 |
Nippon Beet Sugar
Manufacturing Co. Ltd. |
80,720 | ||||||
47,000 | Nippon Carbon Co. Ltd. | 109,925 | ||||||
8,100 | Nippon Ceramic Co. Ltd. | 141,336 | ||||||
31,000 | Nippon Chemical Industrial Co. Ltd.(b) | 38,796 | ||||||
70,000 | Nippon Chemi-Con Corp.(b) | 238,396 | ||||||
3,000 | Nippon Chemiphar Co. Ltd. | 19,388 | ||||||
115,000 | Nippon Coke & Engineering Co. Ltd. | 148,638 | ||||||
18,000 | Nippon Concrete Industries Co. Ltd. | 59,086 | ||||||
26,000 | Nippon Conveyor Co. Ltd.(b) | 22,403 | ||||||
42,000 | Nippon Denko Co. Ltd. | 146,484 | ||||||
26,000 | Nippon Densetsu Kogyo Co. Ltd. | 291,512 | ||||||
181,000 | Nippon Electric Glass Co. Ltd. | 920,921 |
37 |
|
Old Westbury Funds, Inc. | |
Global Small & Mid Cap Fund | |
Portfolio of Investments - (Continued) | April 30, 2013 |
(Unaudited) |
Shares | Value | |||||||
JAPAN (continued) | ||||||||
400 | Nippon Felt Co. Ltd. | $ | 1,801 | |||||
600 | Nippon Filcon Co. Ltd. | 2,622 | ||||||
9,700 | Nippon Fine Chemical Co. Ltd. | 67,662 | ||||||
42,000 | Nippon Flour Mills Co. Ltd. | 195,168 | ||||||
26,000 |
Nippon Formula Feed
Manufacturing Co. Ltd. |
33,338 | ||||||
9,200 | Nippon Gas Co. Ltd. | 114,286 | ||||||
11,000 | Nippon Hume Corp. | 72,555 | ||||||
3,100 | Nippon Jogesuido Sekkei Co. Ltd. | 41,944 | ||||||
3,400 | Nippon Kanzai Co. Ltd. | 55,873 | ||||||
60,000 | Nippon Kayaku Co. Ltd. | 864,133 | ||||||
44,000 | Nippon Kinzoku Co. Ltd.(b) | 55,516 | ||||||
56,000 | Nippon Koei Co. Ltd. | 220,013 | ||||||
17,200 | Nippon Konpo Unyu Soko Co. Ltd. | 265,362 | ||||||
25,000 | Nippon Koshuha Steel Co. Ltd.(b) | 24,363 | ||||||
432,900 | Nippon Light Metal Holdings Co. Ltd. | 510,679 | ||||||
66,000 | Nippon Paint Co. Ltd. | 781,966 | ||||||
39,400 | Nippon Paper Industries Co. Ltd.(b) | 586,847 | ||||||
6 | Nippon Parking Development Co. Ltd. | 487 | ||||||
16,000 | Nippon Pillar Packing Co. Ltd. | 130,974 | ||||||
46,000 | Nippon Piston Ring Co. Ltd. | 88,711 | ||||||
54,000 | Nippon Road Co. Ltd. (The) | 322,388 | ||||||
19,000 | Nippon Seiki Co. Ltd. | 250,449 | ||||||
4,000 | Nippon Seiro Co. Ltd. | 11,489 | ||||||
10,000 | Nippon Seisen Co. Ltd. | 41,647 | ||||||
28,000 | Nippon Sharyo Ltd. | 144,474 | ||||||
81,000 | Nippon Sheet Glass Co. Ltd.(b) | 93,060 | ||||||
35,000 | Nippon Shinyaku Co. Ltd. | 543,212 | ||||||
64,000 | Nippon Shokubai Co. Ltd. | 627,625 | ||||||
23,500 | Nippon Signal Co. Ltd. (The) | 189,234 | ||||||
74,000 | Nippon Soda Co. Ltd. | 343,868 | ||||||
28,000 | Nippon Steel Trading Co. Ltd. | 84,731 | ||||||
74,000 | Nippon Suisan Kaisha Ltd. | 143,468 | ||||||
35,000 | Nippon Synthetic Chemical Industry Co. Ltd. (The) | 335,693 | ||||||
26,000 | Nippon Thompson Co. Ltd. | 129,620 | ||||||
3,000 | Nippon Tungsten Co. Ltd. | 4,678 | ||||||
21,000 | Nippon Valqua Industries Ltd. | 54,070 | ||||||
42,000 | Nippon Yakin Kogyo Co. Ltd.(b) | 57,301 | ||||||
32,500 | Nipro Corp. | 323,716 | ||||||
1,000 | Nishikawa Rubber Co. Ltd. | 19,388 | ||||||
119,000 | Nishimatsu Construction Co. Ltd. | 227,050 | ||||||
6,400 | Nishimatsuya Chain Co. Ltd. | 63,353 | ||||||
327,000 | Nishi-Nippon City Bank Ltd. (The) | 1,090,168 | ||||||
73,000 | Nishi-Nippon Railroad Co. Ltd . | 298,784 | ||||||
18,300 | Nissan Chemical Industries Ltd. | 237,092 | ||||||
74,000 | Nissan Shatai Co. Ltd. | 986,818 |
Shares | Value | |||||||
JAPAN (continued) | ||||||||
30,000 | Nissan Tokyo Sales Holdings Co. Ltd. | $ | 103,401 | |||||
2,300 | Nissei Corp. | 20,526 | ||||||
2,200 | Nissei Plastic Industrial Co. Ltd. | 17,377 | ||||||
21,000 | Nissen Holdings Co. Ltd. | 77,550 | ||||||
1,800 | Nissha Printing Co. Ltd.(b) | 28,971 | ||||||
8,000 | Nisshin Fudosan Co. Ltd. | 74,350 | ||||||
34,000 | Nisshin Oillio Group Ltd. (The) | 119,629 | ||||||
22,924 | Nisshin Steel Holdings Co. Ltd. | 192,121 | ||||||
40,000 | Nisshinbo Holdings, Inc. | 290,096 | ||||||
34,000 | Nissin Corp. | 99,749 | ||||||
22,000 | Nissin Electric Co. Ltd. | 109,453 | ||||||
18,300 | Nissin Kogyo Co. Ltd. | 404,164 | ||||||
2,600 | Nissin Sugar Co. Ltd. | 61,316 | ||||||
6,500 | Nissui Pharmaceutical Co. Ltd. | 78,145 | ||||||
12,300 | Nitta Corp. | 275,310 | ||||||
8,600 | Nittan Valve Co. Ltd. | 32,200 | ||||||
27,000 | Nittetsu Mining Co. Ltd. | 130,451 | ||||||
125,000 | Nitto Boseki Co. Ltd.(b) | 439,811 | ||||||
17,600 | Nitto Kogyo Corp. | 261,603 | ||||||
4,800 | Nitto Kohki Co. Ltd. | 91,386 | ||||||
9,000 | Nitto Seiko Co. Ltd. | 34,344 | ||||||
3,100 | Nittoku Engineering Co. Ltd. | 30,655 | ||||||
7,400 | Noevir Holdings Co. Ltd. | 122,669 | ||||||
109,000 | NOF Corp. | 585,895 | ||||||
12,000 | Nohmi Bosai Ltd. | 98,477 | ||||||
29,600 | NOK Corp. | 426,002 | ||||||
17,000 | Nomura Co. Ltd. | 122,593 | ||||||
42,000 | Noritake Co. Ltd. | 113,310 | ||||||
8,700 | Noritsu Koki Co. Ltd. | 62,382 | ||||||
13,800 | Noritz Corp. | 292,322 | ||||||
62,900 | North Pacific Bank Ltd. | 216,796 | ||||||
7,700 | NS Solutions Corp. | 156,156 | ||||||
26,000 | NS United Kaiun Kaisha Ltd.(b) | 48,274 | ||||||
3,100 | NSD Co. Ltd. | 35,202 | ||||||
197,000 | NTN Corp. | 501,164 | ||||||
4,500 | Obara Group, Inc. | 108,524 | ||||||
21,000 | Obayashi Road Corp. | 100,385 | ||||||
2,000 | OBIC Business Consultants Ltd. | 113,864 | ||||||
960 | Obic Co. Ltd. | 252,987 | ||||||
32,000 | Oenon Holdings, Inc. | 90,270 | ||||||
117,000 | Ogaki Kyoritsu Bank Ltd. (The) | 434,467 | ||||||
4,300 | Ohara, Inc. | 29,377 | ||||||
900 | Ohashi Technica, Inc. | 8,078 | ||||||
14,038 | Oiles Corp. | 282,099 | ||||||
67,000 | Oita Bank Ltd. (The) | 261,168 | ||||||
33,100 | Okabe Co. Ltd. | 342,595 | ||||||
26,000 | Okamoto Industries, Inc. | 85,346 | ||||||
9,000 | Okamoto Machine Tool Works Ltd.(b) | 13,479 | ||||||
35,000 | Okamura Corp. | 265,323 | ||||||
21,000 | Okasan Securities Group, Inc. | 263,240 | ||||||
3,160 | Okinawa Electric Power Co., Inc. (The) | 116,695 | ||||||
54,000 | OKK Corp. | 106,909 | ||||||
62,000 | OKUMA Corp. | 483,992 |
38 |
|
Old Westbury Funds, Inc. | |
Global Small & Mid Cap Fund | |
Portfolio of Investments - (Continued) | April 30, 2013 |
(Unaudited) |
Shares | Value | |||||||
JAPAN (continued) | ||||||||
77,000 | Okumura Corp. | $ | 311,207 | |||||
26,000 | Okura Industrial Co. Ltd. | 114,684 | ||||||
14,000 | Okuwa Co. Ltd. | 152,516 | ||||||
6,700 | Onoken Co. Ltd. | 68,797 | ||||||
111,000 | Onward Holdings Co. Ltd. | 1,037,298 | ||||||
1,800 | Optex Co. Ltd. | 26,681 | ||||||
23,000 | Organo Corp. | 130,471 | ||||||
17,000 | Origin Electric Co. Ltd. | 66,267 | ||||||
2,700 | Osaka Organic Chemical Industry Ltd. | 12,768 | ||||||
9,500 | Osaka Steel Co. Ltd. | 173,950 | ||||||
6,500 | OSAKA Titanium Technologies Co. | 129,153 | ||||||
10,000 | Osaki Electric Co. Ltd. | 52,726 | ||||||
25,100 | OSG Corp. | 381,321 | ||||||
5,300 | Otsuka Corp. | 547,479 | ||||||
2,500 | Otsuka Kagu Ltd. | 27,799 | ||||||
6,100 | Oyo Corp. | 99,930 | ||||||
37,000 | Pacific Industrial Co. Ltd. | 225,071 | ||||||
39,000 | Pacific Metals Co. Ltd. | 195,630 | ||||||
2,450 | Pack Corp. (The) | 49,359 | ||||||
4,000 | Pal Co. Ltd. | 133,149 | ||||||
11,150 | Paltac Corp. | 144,686 | ||||||
57,000 | PanaHome Corp. | 448,469 | ||||||
10,500 | Panasonic Industrial Devices SUNX Co. Ltd. | 49,546 | ||||||
1,000 | Panasonic Information Systems Co. Ltd. | 23,552 | ||||||
4,300 | Parco Co. Ltd. | 56,328 | ||||||
10,100 | Paris Miki Holdings, Inc. | 54,393 | ||||||
17,500 | Park24 Co. Ltd. | 352,747 | ||||||
10,000 | Pasco Corp.(b) | 43,802 | ||||||
14 | Pasona Group, Inc. | 11,187 | ||||||
46,000 | Penta-Ocean Construction Co. Ltd. | 117,967 | ||||||
2,700 | PIA Corp. | 45,339 | ||||||
5,700 | Pigeon Corp. | 489,398 | ||||||
66 | Pilot Corp. | 268,780 | ||||||
4,800 | Piolax, Inc. | 135,012 | ||||||
78,700 | Pioneer Corp.(b) | 161,461 | ||||||
10,200 | Plenus Co. Ltd. | 184,884 | ||||||
2,100 | Pola Orbis Holdings, Inc. | 74,319 | ||||||
44,000 | Press Kogyo Co. Ltd. | 224,773 | ||||||
900 | Pressance Corp. | 38,083 | ||||||
1,500 | Prestige International, Inc. | 19,003 | ||||||
47,000 | Prima Meat Packers Ltd. | 130,656 | ||||||
6,800 | Pronexus, Inc. | 56,361 | ||||||
42,100 | Raito Kogyo Co. Ltd. | 235,796 | ||||||
14,000 | Rasa Industries Ltd.(b) | 19,388 | ||||||
13,800 | Renesas Electronics Corp.(b) | 40,062 | ||||||
85,840 | Rengo Co. Ltd. | 414,737 | ||||||
23,200 | Renown, Inc.(b) | 36,412 | ||||||
13,100 | Resorttrust, Inc. | 446,140 | ||||||
3,000 | Rheon Automatic Machinery Co. Ltd. | 6,955 | ||||||
20,000 | Rhythm Watch Co. Ltd. | 34,672 |
Shares | Value | |||||||
JAPAN (continued) | ||||||||
8,000 | Ricoh Leasing Co. Ltd. | $ | 245,781 | |||||
4,500 | Right On Co. Ltd. | 44,684 | ||||||
31,000 | Riken Corp. | 124,973 | ||||||
11,400 | Riken Keiki Co. Ltd. | 78,818 | ||||||
7,000 | Riken Technos Corp. | 19,818 | ||||||
2,600 | Riken Vitamin Co. Ltd. | 62,676 | ||||||
4,700 | Ringer Hut Co. Ltd. | 66,533 | ||||||
16,800 | Riso Kagaku Corp. | 321,403 | ||||||
698 | Riso Kyoiku Co. Ltd. | 69,596 | ||||||
4,500 | Rock Field Co. Ltd. | 89,044 | ||||||
32,000 | Rohto Pharmaceutical Co. Ltd. | 449,382 | ||||||
3,000 | Roland DG Corp. | 44,191 | ||||||
55,600 | Round One Corp. | 465,401 | ||||||
8,600 | Royal Holdings Co. Ltd. | 140,268 | ||||||
37,000 | Ryobi Ltd. | 86,536 | ||||||
16,000 | Ryoden Trading Co. Ltd. | 103,236 | ||||||
7,600 | Ryohin Keikaku Co. Ltd. | 717,239 | ||||||
13,800 | Ryosan Co. Ltd. | 249,854 | ||||||
8,400 | Ryoyo Electro Corp. | 75,741 | ||||||
3,500 | S Foods, Inc. | 35,257 | ||||||
2,000 | Sagami Chain Co. Ltd.(b) | 16,331 | ||||||
69,000 | Saibu Gas Co. Ltd. | 167,749 | ||||||
10,000 | Saizeriya Co. Ltd. | 141,560 | ||||||
41,000 | Sakai Chemical Industry Co. Ltd. | 127,435 | ||||||
18,000 | Sakai Heavy Industries Ltd. | 56,316 | ||||||
39,000 | Sakai Ovex Co. Ltd. | 62,410 | ||||||
18,000 | Sakata INX Corp. | 126,850 | ||||||
17,300 | Sakata Seed Corp. | 236,558 | ||||||
4,500 | Sala Corp. | 24,142 | ||||||
3,500 | San-A Co. Ltd. | 170,719 | ||||||
50,000 | San-Ai Oil Co. Ltd. | 229,779 | ||||||
15,000 | Sanden Corp. | 62,779 | ||||||
22,575 | Sangetsu Co. Ltd. | 646,323 | ||||||
69,000 | San-In Godo Bank Ltd. (The) | 587,475 | ||||||
44,000 | Sanken Electric Co. Ltd. | 205,816 | ||||||
17,000 | Sanki Engineering Co. Ltd. | 96,610 | ||||||
50 | Sanko Marketing Foods Co. Ltd. | 54,060 | ||||||
14,000 | Sanko Metal Industrial Co. Ltd. | 33,031 | ||||||
23,200 | Sankyo Seiko Co. Ltd. | 88,769 | ||||||
5,600 | Sankyo Tateyama, Inc.(b) | 154,354 | ||||||
120,000 | Sankyu, Inc. | 535,467 | ||||||
20,600 | Sanoh Industrial Co. Ltd. | 147,709 | ||||||
15,400 | Sanshin Electronics Co. Ltd. | 96,995 | ||||||
68,000 | Sanwa Holdings Corp. | 412,248 | ||||||
21,000 | Sanyo Chemical Industries Ltd. | 123,865 | ||||||
13,000 | Sanyo Denki Co. Ltd. | 98,682 | ||||||
2,000 | Sanyo Electric Railway Co. Ltd. | 7,509 | ||||||
5,400 | Sanyo Housing Nagoya Co. Ltd. | 75,944 | ||||||
35,000 | Sanyo Shokai Ltd. | 106,273 | ||||||
78,000 | Sanyo Special Steel Co. Ltd. | 316,049 | ||||||
69,000 | Sapporo Holdings Ltd. | 313,556 | ||||||
32,000 | Sasebo Heavy Industries Co. Ltd.(b) | 41,360 | ||||||
26,000 | Sata Construction Co. Ltd. | 25,071 |
39 |
|
Old Westbury Funds, Inc. | |
Global Small & Mid Cap Fund | |
Portfolio of Investments - (Continued) | April 30, 2013 |
(Unaudited) |
Shares | Value | |||||||
JAPAN (continued) | ||||||||
4,900 | SATO Holdings Corp. | $ | 102,639 | |||||
6,300 | Sato Shoji Corp. | 38,000 | ||||||
4,200 | Satori Electric Co. Ltd. | 22,662 | ||||||
4,000 | Sawada Holdings Co. Ltd. | 48,336 | ||||||
4,500 | Sawai Pharmaceutical Co. Ltd. | 580,705 | ||||||
17,000 | SAXA Holdings, Inc. | 32,610 | ||||||
94,280 | SBI Holdings, Inc. | 1,823,994 | ||||||
13,600 | Scroll Corp. | 39,062 | ||||||
21,797 | SCSK Corp. | 485,868 | ||||||
1,600 | Secom Joshinetsu Co. Ltd. | 39,062 | ||||||
4,000 | Seibu Electric Industry Co. Ltd. | 17,726 | ||||||
37,000 | Seika Corp. | 94,127 | ||||||
3,500 | Seikagaku Corp. | 47,751 | ||||||
55,200 | Seiko Epson Corp. | 632,491 | ||||||
26,000 | Seiko Holdings Corp. | 152,290 | ||||||
100 | Seiko PMC Corp. | 485 | ||||||
93,000 | Seino Holdings Co. Ltd. | 811,848 | ||||||
18,700 | Seiren Co. Ltd. | 124,494 | ||||||
32,000 | Sekisui Jushi Corp. | 443,802 | ||||||
35,000 | Sekisui Plastics Co. Ltd. | 92,271 | ||||||
30,000 | Senko Co. Ltd. | 162,487 | ||||||
2,000 | Senshu Electric Co. Ltd. | 28,517 | ||||||
20,720 | Senshu Ikeda Holdings, Inc. | 109,461 | ||||||
9,000 | Senshukai Co. Ltd. | 82,536 | ||||||
377,000 | Sharp Corp.(b) | 1,307,134 | ||||||
30,000 | Shibaura Mechatronics Corp.(b) | 75,088 | ||||||
25,000 | Shibusawa Warehouse Co. Ltd. (The) | 151,818 | ||||||
9,400 | Shibuya Kogyo Co. Ltd. | 85,529 | ||||||
91,000 | Shiga Bank Ltd. (The) | 640,365 | ||||||
59,000 | Shikibo Ltd. | 85,941 | ||||||
61,000 | Shikoku Bank Ltd. (The) | 185,844 | ||||||
25,000 | Shikoku Chemicals Corp. | 183,618 | ||||||
19,400 | Shikoku Electric Power Co., Inc.(b) | 351,244 | ||||||
4,600 | Shima Seiki Manufacturing Ltd. | 99,470 | ||||||
32,149 | Shimachu Co. Ltd. | 848,534 | ||||||
74,000 | Shimadzu Corp. | 540,473 | ||||||
800 | Shimane Bank Ltd. (The) | 10,668 | ||||||
3,600 | Shimizu Bank Ltd. (The) | 106,650 | ||||||
141,000 | Shimizu Corp. | 566,980 | ||||||
2,500 | Shimojima Co. Ltd. | 25,542 | ||||||
4,000 | Shin Nippon Air Technologies Co. Ltd. | 23,716 | ||||||
47,000 | Shinagawa Refractories Co. Ltd. | 103,657 | ||||||
32,000 | Shindengen Electric Manufacturing Co. Ltd. | 131,302 | ||||||
16,600 | Shin-Etsu Polymer Co. Ltd. | 61,472 | ||||||
9,000 | Shin-Keisei Electric Railway Co. Ltd. | 35,913 | ||||||
28,300 | Shinko Electric Industries Co. Ltd. | 287,398 | ||||||
12,100 | Shinko Plantech Co. Ltd. | 91,229 | ||||||
13,300 | Shinko Shoji Co. Ltd. | 129,200 | ||||||
7,000 | Shinko Wire Co. Ltd. | 10,771 | ||||||
41,000 | Shinmaywa Industries Ltd. | 333,097 |
Shares | Value | |||||||
JAPAN (continued) | ||||||||
31,500 | Shinnihon Corp. | $ | 110,832 | |||||
30,000 | Shinsho Corp. | 59,701 | ||||||
900 | Shinwa Co. Ltd. | 10,931 | ||||||
10,500 | Ship Healthcare Holdings, Inc. | 403,908 | ||||||
34,000 | Shiroki Corp. | 76,032 | ||||||
3,000 | Shizuki Electric Co., Inc. | 10,586 | ||||||
32,500 | Shizuoka Gas Co. Ltd. | 257,373 | ||||||
4,700 | SHO-BOND Holdings Co. Ltd. | 198,154 | ||||||
6,500 | Shobunsha Publications, Inc. | 40,340 | ||||||
26,000 | Shochiku Co. Ltd. | 261,640 | ||||||
500 | Shoei Foods Corp. | 3,821 | ||||||
500 | Shofu, Inc. | 4,683 | ||||||
34,000 | Shoko Co. Ltd. | 50,921 | ||||||
2,000 | Showa Aircraft Industry Co. Ltd. | 28,722 | ||||||
25,600 | Showa Corp. | 371,060 | ||||||
575,600 | Showa Denko KK | 927,006 | ||||||
32,000 | Showa Sangyo Co. Ltd. | 106,027 | ||||||
48,100 | Showa Shell Sekiyu KK | 385,353 | ||||||
11,600 | Siix Corp. | 174,919 | ||||||
60 | Simplex Holdings, Inc. | 23,296 | ||||||
15,000 | Sinanen Co. Ltd. | 61,394 | ||||||
28,000 | Sinfonia Technology Co. Ltd. | 47,679 | ||||||
41,100 | Sintokogio Ltd. | 371,854 | ||||||
1,222 | SKY Perfect JSAT Holdings, Inc. | 614,228 | ||||||
27,000 | SMK Corp. | 79,489 | ||||||
13,500 | SNT Corp. | 58,994 | ||||||
21,400 | Sodick Co. Ltd. | 128,859 | ||||||
6,100 | Soft99 Corp. | 42,800 | ||||||
2,200 | Sogo Medical Co. Ltd. | 96,928 | ||||||
49,188 | Sohgo Security Services Co. Ltd. | 785,111 | ||||||
820,800 | Sojitz Corp. | 1,288,223 | ||||||
50,000 | Sotetsu Holdings, Inc. | 194,389 | ||||||
1,900 | Space Co. Ltd. | 17,639 | ||||||
400 | SPK Corp. | 7,287 | ||||||
17,000 | Square Enix Holdings Co. Ltd. | 208,042 | ||||||
2,700 | SRA Holdings, Inc. | 30,743 | ||||||
10,000 | Stanley Electric Co. Ltd. | 191,619 | ||||||
19,100 | Star Micronics Co. Ltd. | 221,790 | ||||||
2,800 | Start Today Co. Ltd. | 42,337 | ||||||
26,000 | Starzen Co. Ltd. | 71,211 | ||||||
2,300 | Stella Chemifa Corp. | 45,535 | ||||||
2,500 | Studio Alice Co. Ltd. | 38,391 | ||||||
8,000 | Sugi Holdings Co. Ltd. | 307,329 | ||||||
3,800 | Sugimoto & Co. Ltd. | 33,211 | ||||||
8,100 | Sumco Corp. | 85,001 | ||||||
4,800 | Sumida Corp. | 24,471 | ||||||
81,000 | Sumikin Bussan Corp. | 265,056 | ||||||
22,000 | Suminoe Textile Co. Ltd. | 67,026 | ||||||
84,000 | Sumitomo Bakelite Co. Ltd. | 340,360 | ||||||
13,200 | Sumitomo Densetsu Co. Ltd. | 202,431 | ||||||
35,900 | Sumitomo Forestry Co. Ltd. | 427,184 | ||||||
135,000 | Sumitomo Heavy Industries Ltd. | 598,246 |
40 |
|
Old Westbury Funds, Inc. | |
Global Small & Mid Cap Fund | |
Portfolio of Investments - (Continued) | April 30, 2013 |
(Unaudited) |
Shares | Value | |||||||
JAPAN (continued) | ||||||||
40,000 | Sumitomo Light Metal Industries Ltd. | $ | 41,442 | |||||
11,200 | Sumitomo Mitsui Construction Co. Ltd.(b) | 11,374 | ||||||
246,000 | Sumitomo Osaka Cement Co. Ltd. | 736,852 | ||||||
13,900 | Sumitomo Pipe & Tube Co. Ltd. | 135,742 | ||||||
14,000 | Sumitomo Precision Products Co. Ltd. | 60,461 | ||||||
3,140 | Sumitomo Real Estate Sales Co. Ltd. | 218,062 | ||||||
38,000 | Sumitomo Seika Chemicals Co. Ltd. | 144,617 | ||||||
61,000 | Sumitomo Warehouse Co. Ltd. (The) | 436,765 | ||||||
2,000 | Suncall Corp. | 10,217 | ||||||
12,700 | Sundrug Co. Ltd. | 557,583 | ||||||
3,600 | Sun-Wa Technos Corp. | 32,313 | ||||||
23,000 | Suzuken Co. Ltd. | 894,189 | ||||||
112,000 | SWCC Showa Holdings Co. Ltd.(b) | 116,038 | ||||||
62,000 | SxL Corp.(b) | 110,663 | ||||||
5,400 | Systena Corp. | 47,195 | ||||||
2,900 | T&K Toka Co. Ltd. | 70,652 | ||||||
1,900 | T. Hasegawa Co. Ltd. | 28,007 | ||||||
42,000 | T. RAD Co. Ltd. | 119,772 | ||||||
6,000 | Tachibana Eletech Co. Ltd. | 58,163 | ||||||
11,900 | Tachi-S Co. Ltd. | 219,482 | ||||||
69 | Tact Home Co. Ltd. | 141,631 | ||||||
68,000 | Tadano Ltd. | 851,003 | ||||||
10,000 | Taihei Dengyo Kaisha Ltd. | 60,830 | ||||||
46,000 | Taihei Kogyo Co. Ltd. | 162,794 | ||||||
37,000 | Taiheiyo Kouhatsu, Inc. | 49,720 | ||||||
9,600 | Taiho Kogyo Co. Ltd. | 123,194 | ||||||
16,700 | Taikisha Ltd. | 377,735 | ||||||
15,000 | Taiko Bank Ltd. (The) | 40,468 | ||||||
900 | Taisei Lamick Co., Ltd. | 22,656 | ||||||
147,300 | Taiyo Holdings Co. Ltd.(d) | 4,646,330 | ||||||
59,000 | Taiyo Nippon Sanso Corp. | 390,973 | ||||||
10,200 | Taiyo Yuden Co. Ltd. | 147,426 | ||||||
1,600 | Takachiho Koheki Co. Ltd. | 15,313 | ||||||
4,000 | Takagi Securities Co. Ltd. | 18,259 | ||||||
7,100 | Takamatsu Construction Group Co. Ltd. | 107,864 | ||||||
4,000 | Takano Co. Ltd. | 19,080 | ||||||
1,365 | Takaoka Toko Holdings Co. Ltd. | 18,651 | ||||||
65,000 | Takara Holdings, Inc. | 557,419 | ||||||
4,500 | Takara Leben Co. Ltd. | 92,414 | ||||||
4,400 | Takara Printing Co. Ltd. | 36,244 | ||||||
65,000 | Takara Standard Co. Ltd. | 510,078 | ||||||
21,000 | Takasago International Corp. | 112,017 | ||||||
30,400 | Takasago Thermal Engineering Co. Ltd. | 239,495 | ||||||
18,000 | Takashima & Co. Ltd. | 54,470 | ||||||
13,800 | Takata Corp. | 264,576 |
Shares | Value | |||||||
JAPAN (continued) | ||||||||
163 | Take And Give Needs Co. Ltd. | $ | 33,625 | |||||
12,000 | Takihyo Co. Ltd. | 54,162 | ||||||
15,000 | Takiron Co. Ltd. | 54,008 | ||||||
33,000 | Takisawa Machine Tool Co. Ltd. | 63,302 | ||||||
18,000 | Takuma Co. Ltd. | 108,940 | ||||||
5,900 | Tamron Co. Ltd. | 129,154 | ||||||
34,000 | Tamura Corp. | 70,452 | ||||||
1,000 | Tanseisha Co. Ltd. | 5,047 | ||||||
29,000 | Tatsuta Electric Wire and Cable Co. Ltd. | 206,750 | ||||||
20,000 | Tayca Corp. | 60,727 | ||||||
19,000 | TBK Co. Ltd. | 114,018 | ||||||
2 | Techno Medica Co. Ltd. | 13,500 | ||||||
1,200 | Techno Ryowa Ltd. | 5,318 | ||||||
13,400 | Tecmo Koei Holdings Co. Ltd. | 120,825 | ||||||
394,000 | Teijin Ltd. | 945,745 | ||||||
1,200 | Teikoku Electric Manufacturing Co. Ltd. | 22,785 | ||||||
7,000 | Teikoku Sen-I Co. Ltd. | 66,564 | ||||||
5,000 | Teikoku Tsushin Kogyo Co. Ltd. | 10,463 | ||||||
98,000 | Tekken Corp.(b) | 135,713 | ||||||
5,300 | Temp Holdings Co. Ltd. | 114,987 | ||||||
23,500 | THK Co. Ltd. | 493,455 | ||||||
1,000 | Tigers Polymer Corp. | 4,196 | ||||||
5,000 | Titan Kogyo KK | 12,002 | ||||||
11,000 | TKC Corp. | 194,532 | ||||||
156,000 | Toa Corp.(b) | 240,037 | ||||||
58,000 | Toa Oil Co. Ltd. | 70,206 | ||||||
35,000 | Toa Road Corp. | 191,004 | ||||||
51,000 | Toabo Corp. | 41,853 | ||||||
90,500 | Toagosei Co. Ltd. | 389,906 | ||||||
10,100 | Tobishima Corp.(b) | 13,262 | ||||||
15,000 | Tobu Store Co. Ltd. | 41,391 | ||||||
54,100 | TOC Co. Ltd. | 425,097 | ||||||
3,800 | Tocalo Co. Ltd. | 55,547 | ||||||
40,000 | Tochigi Bank Ltd. (The) | 162,076 | ||||||
127,000 | Toda Corp. | 373,893 | ||||||
15,000 | Toda Kogyo Corp. | 50,008 | ||||||
1,400 | Toei Animation Co. Ltd. | 34,122 | ||||||
17,000 | Toei Co. Ltd. | 126,081 | ||||||
25,000 | Toenec Corp. | 113,094 | ||||||
53,000 | Toho Bank Ltd. (The) | 165,820 | ||||||
8,000 | Toho Co. Ltd. | 28,969 | ||||||
5,000 | Toho Holdings Co. Ltd. | 114,428 | ||||||
90,000 | Toho Zinc Co. Ltd. | 336,052 | ||||||
45,000 | Tohoku Bank Ltd. (The) | 76,166 | ||||||
500 | Tohokushinsha Film Corp. | 4,949 | ||||||
14,000 | Tohto Suisan Co. Ltd. | 21,111 | ||||||
106,000 | Tokai Carbon Co. Ltd. | 357,737 | ||||||
15,600 | TOKAI Holdings Corp. | 50,888 | ||||||
22,000 | Tokai Lease Co. Ltd. | 43,781 | ||||||
26,700 | Tokai Rika Co. Ltd. | 540,108 | ||||||
28,500 | Tokai Rubber Industries Ltd. | 319,541 |
41 |
|
Old Westbury Funds, Inc. | |
Global Small & Mid Cap Fund | |
Portfolio of Investments - (Continued) | April 30, 2013 |
(Unaudited) |
Shares | Value | |||||||
JAPAN (continued) | ||||||||
88,000 | Tokai Tokyo Financial Holdings, Inc. | $ | 797,989 | |||||
1,890 | Token Corp. | 121,560 | ||||||
33,840 | Tokushu Tokai Paper Co. Ltd. | 73,939 | ||||||
37,000 | Tokuyama Corp. | 99,441 | ||||||
14,600 | Tokyo Broadcasting System Holdings, Inc. | 230,790 | ||||||
24 | Tokyo Electron Device Ltd. | 38,652 | ||||||
5,000 | Tokyo Energy & Systems, Inc. | 24,414 | ||||||
40,000 | Tokyo Keiki, Inc. | 88,629 | ||||||
39,800 | Tokyo Ohka Kogyo Co. Ltd. | 861,445 | ||||||
7,000 | Tokyo Rakutenchi Co. Ltd. | 36,549 | ||||||
107,000 | Tokyo Rope Manufacturing Co. Ltd.(b) | 144,884 | ||||||
1,000 | Tokyo Sangyo Co. Ltd. | 3,211 | ||||||
14,700 | Tokyo Seimitsu Co. Ltd. | 322,847 | ||||||
44,500 | Tokyo Steel Manufacturing Co. Ltd. | 181,223 | ||||||
86,000 | Tokyo Tatemono Co. Ltd. | 794,850 | ||||||
32,000 | Tokyo Tekko Co. Ltd. | 126,050 | ||||||
11,000 | Tokyo Theaters Co., Inc. | 22,568 | ||||||
14,200 | Tokyo Tomin Bank Ltd. (The) | 197,811 | ||||||
2,300 | Tokyu Community Corp. | 119,382 | ||||||
31,960 | Tokyu Construction Co. Ltd.(b) | 77,044 | ||||||
5,000 | Tokyu Livable, Inc. | 122,532 | ||||||
27,000 | Toli Corp. | 60,655 | ||||||
28,000 | Tomato Bank Ltd. | 54,285 | ||||||
4,000 | Tomen Devices Corp. | 72,955 | ||||||
7,900 | Tomen Electronics Corp. | 102,189 | ||||||
18,100 | Tomoe Corp. | 72,411 | ||||||
3,300 | Tomoe Engineering Co. Ltd. | 67,872 | ||||||
4,000 | Tomoegawa Co. Ltd. | 7,263 | ||||||
49,000 | Tomoku Co. Ltd. | 155,316 | ||||||
52,600 | TOMONY Holdings, Inc. | 215,828 | ||||||
20,000 | Tonami Holdings Co. Ltd. | 45,751 | ||||||
13,800 | Toppan Forms Co. Ltd. | 129,244 | ||||||
29,000 | Topre Corp. | 269,518 | ||||||
121,000 | Topy Industries Ltd. | 281,756 | ||||||
1,000 | Toridoll.Corp. | 13,448 | ||||||
8,800 | Torigoe Co. Ltd. (The) | 57,322 | ||||||
5,300 | Torii Pharmaceutical Co. Ltd. | 124,392 | ||||||
8,700 | Torishima Pump Manufacturing Co. Ltd. | 70,592 | ||||||
121 | Tosei Corp. | 146,339 | ||||||
67,000 | Toshiba Machine Co. Ltd. | 408,935 | ||||||
17,000 | Toshiba Plant Systems & Services Corp. | 229,840 | ||||||
106,000 | Toshiba TEC Corp. | 625,224 | ||||||
16,000 | Tosho Printing Co. Ltd. | 50,387 | ||||||
225,000 | Tosoh Corp. | 740,883 | ||||||
24,000 | Totetsu Kogyo Co. Ltd. | 400,800 | ||||||
21,000 | Tottori Bank Ltd. (The) | 46,099 | ||||||
3,700 | Touei Housing Corp. | 78,186 | ||||||
113,000 | Towa Bank Ltd. (The) | 130,984 | ||||||
1,900 | Towa Corp. | 11,714 | ||||||
2,800 | Towa Pharmaceutical Co. Ltd. | 138,729 |
Shares | Value | |||||||
JAPAN (continued) | ||||||||
1,500 | Toyo Construction Co. Ltd. | $ | 4,539 | |||||
8,200 | Toyo Corp. | 117,678 | ||||||
3,000 | Toyo Denki Seizo - Toyo Electric Manufacturing Co. Ltd. | 10,248 | ||||||
90,000 | Toyo Engineering Corp. | 430,220 | ||||||
152,000 | Toyo Ink SC Holdings Co. Ltd. | 707,883 | ||||||
17,000 | Toyo Kohan Co. Ltd. | 55,978 | ||||||
16,000 | Toyo Securities Co. Ltd. | 65,815 | ||||||
37,300 | Toyo Seikan Group Holdings Ltd. | 510,419 | ||||||
2,800 | Toyo Tanso Co. Ltd. | 61,121 | ||||||
111,000 | Toyo Tire & Rubber Co. Ltd. | 596,646 | ||||||
20,000 | Toyo Wharf & Warehouse Co. Ltd. | 43,904 | ||||||
93,000 | Toyobo Co. Ltd. | 162,179 | ||||||
10,100 | Toyoda Gosei Co. Ltd. | 261,708 | ||||||
14,700 | Toyota Boshoku Corp. | 210,959 | ||||||
9,200 | TPR Co. Ltd. | 164,587 | ||||||
1,200 | Trancom Co. Ltd. | 34,590 | ||||||
12,300 | Transcosmos, Inc.(b) | 171,596 | ||||||
5,100 | Trusco Nakayama Corp. | 105,207 | ||||||
7,300 | TS Tech Co. Ltd. | 221,580 | ||||||
37,700 | TSI Holdings Co. Ltd. | 278,056 | ||||||
67,000 | Tsubakimoto Chain Co. | 358,076 | ||||||
6,000 | Tsubakimoto Kogyo Co. Ltd. | 16,372 | ||||||
47,000 | Tsudakoma Corp.(b) | 101,728 | ||||||
34,000 | Tsugami Corp. | 174,386 | ||||||
18,000 | Tsukishima Kikai Co. Ltd. | 169,134 | ||||||
40,133 | Tsukuba Bank Ltd. | 198,432 | ||||||
19,300 | Tsumura & Co. | 628,584 | ||||||
5,300 | Tsuruha Holdings, Inc. | 515,402 | ||||||
7,000 | Tsurumi Manufacturing Co. Ltd. | 61,107 | ||||||
2,400 | Tsutsumi Jewelry Co. Ltd. | 74,842 | ||||||
7,000 | TTK Co. Ltd. | 32,815 | ||||||
8,100 | TV Asahi Corp. | 168,921 | ||||||
200 | TV Tokyo Holdings Corp. | 2,749 | ||||||
245,000 | Ube Industries Ltd. | 495,102 | ||||||
15,000 | Ube Material Industries Ltd. | 36,006 | ||||||
23,000 | Uchida Yoko Co. Ltd. | 71,960 | ||||||
14,000 | Ueki Corp. | 28,579 | ||||||
1,900 | UKC Holdings Corp. | 44,477 | ||||||
14,900 | Ulvac, Inc.(b) | 116,467 | ||||||
36,000 | Uniden Corp.(b) | 86,044 | ||||||
400 | Union Tool Co. | 8,834 | ||||||
8,300 | Unipres Corp. | 184,671 | ||||||
7,300 | United Arrows Ltd. | 283,059 | ||||||
1,800 | Universal Entertainment Corp. | 45,145 | ||||||
166,700 | UNY Group Holdings Co. Ltd. | 1,185,035 | ||||||
7,680 | Usen Corp.(b) | 12,369 | ||||||
14,100 | U-Shin Ltd. | 102,693 | ||||||
27,500 | Ushio, Inc. | 279,838 | ||||||
8,800 | Utoc Corp. | 30,692 | ||||||
16,200 | Valor Co. Ltd. | 306,102 | ||||||
22,600 | Vital KSK Holdings, Inc. | 204,011 | ||||||
5,400 | VT Holdings Co. Ltd. | 66,416 |
42 |
|
Old Westbury Funds, Inc. | |
Global Small & Mid Cap Fund | |
Portfolio of Investments - (Continued) | April 30, 2013 |
(Unaudited) |
Shares | Value | |||||||
JAPAN (continued) | ||||||||
32,000 | Wacoal Holdings Corp. | $ | 352,875 | |||||
5 | Wacom Co. Ltd. | 22,850 | ||||||
33,000 | Wakachiku Construction Co. Ltd.(b) | 38,591 | ||||||
10,000 | Wakita & Co. Ltd. | 124,840 | ||||||
4,900 | Warabeya Nichiyo Co. Ltd. | 83,237 | ||||||
2,800 | Watabe Wedding Corp. | 25,391 | ||||||
6,300 | WATAMI Co. Ltd. | 114,839 | ||||||
3,000 | Weathernews, Inc. | 73,457 | ||||||
100 | Welcia Holdings Co. Ltd. | 5,262 | ||||||
18,000 | Wood One Co. Ltd. | 59,271 | ||||||
20,700 | Xebio Co. Ltd. | 487,109 | ||||||
5,700 | Y.A.C. Co. Ltd. | 31,866 | ||||||
6,300 | Yachiyo Bank Ltd. (The) | 234,913 | ||||||
1,100 | Yahagi Construction Co. Ltd. | 4,818 | ||||||
1,200 | Yaizu Suisankagaku Industry Co. Ltd. | 10,845 | ||||||
2,000 | YAMABIKO Corp. | 57,034 | ||||||
88,000 | Yamagata Bank Ltd. (The) | 436,006 | ||||||
157,000 | Yamaguchi Financial Group, Inc. | 1,702,303 | ||||||
124,300 | Yamaha Corp. | 1,332,446 | ||||||
58,000 | Yamanashi Chuo Bank Ltd. (The) | 268,923 | ||||||
70,000 | Yamatane Corp. | 150,074 | ||||||
5,700 | Yamato Kogyo Co. Ltd. | 187,983 | ||||||
24,000 | Yamazaki Baking Co. Ltd. | 313,648 | ||||||
100 | Yamazawa Co. Ltd. | 1,583 | ||||||
18,200 | Yamazen Corp. | 115,751 | ||||||
2,500 | Yaoko Co. Ltd. | 108,735 | ||||||
34,000 | Yaskawa Electric Corp. | 414,689 | ||||||
5,100 | Yasuda Warehouse Co. Ltd. (The) | 60,477 | ||||||
15,900 | Yellow Hat Ltd. | 318,375 | ||||||
57,000 | Yodogawa Steel Works Ltd. | 215,172 | ||||||
12,000 | Yokogawa Bridge Holdings Corp. | 126,050 | ||||||
25,300 | Yokogawa Electric Corp. | 256,932 | ||||||
22,300 | Yokohama Reito Co. Ltd. | 200,845 | ||||||
3,300 | Yokowo Co. Ltd. | 19,261 | ||||||
5,000 | Yomeishu Seizo Co. Ltd. | 44,315 | ||||||
5,000 | Yondenko Corp. | 16,772 | ||||||
3,200 | Yonex Co. Ltd. | 17,824 | ||||||
8,300 | Yorozu Corp. | 138,355 | ||||||
80 | Yoshinoya Holdings Co. Ltd. | 93,225 | ||||||
56,000 | Yuasa Trading Co. Ltd. | 118,336 | ||||||
27,000 | Yuken Kogyo Co. Ltd. | 63,979 | ||||||
3,000 | Yukiguni Maitake Co. Ltd.(b) | 8,278 | ||||||
10,000 | Yurtec Corp. | 31,287 | ||||||
6,100 | Yusen Logistics Co. Ltd. | 64,075 | ||||||
2,740 | Yushin Precision Equipment Co. Ltd. | 51,211 | ||||||
4,200 | Yushiro Chemical Industry Co. Ltd. | 40,499 | ||||||
7,400 | Zenrin Co. Ltd. | 95,494 | ||||||
21,900 | Zensho Holdings Co. Ltd. | 290,248 |
Shares | Value | |||||||
JAPAN (continued) | ||||||||
72,000 | Zeon Corp. | $ | 773,288 | |||||
7,000 | ZERIA Pharmaceutical Co. Ltd. | 107,637 | ||||||
4,000 | Zojirushi Corp. | 13,500 | ||||||
10,700 | Zuken, Inc. | 76,064 | ||||||
287,437,720 | ||||||||
JERSEY CHANNEL ISLANDS — 0.0% | ||||||||
5,067 | Atrium European Real Estate Ltd. | 30,242 | ||||||
57,179 | Centamin Plc(b) | 36,709 | ||||||
55,236 | Heritage Oil Plc(b) | 137,281 | ||||||
36,148 | Phoenix Group Holdings | 356,275 | ||||||
560,507 | ||||||||
LIECHTENSTEIN — 0.0% | ||||||||
3,313 | Liechtensteinische Landesbank AG | 139,318 | ||||||
2,157 | Verwaltungs- und Privat-Bank AG | 172,829 | ||||||
312,147 | ||||||||
LUXEMBOURG — 0.2% | ||||||||
24,382 | APERAM | 299,360 | ||||||
2,734,415 | AZ Electronic Materials SA(d) | 12,092,643 | ||||||
24,534 | d’Amico International Shipping SA(b) | 15,464 | ||||||
1,317 | Eurofins Scientific | 286,180 | ||||||
1,096 | GAGFAH SA(b) | 14,145 | ||||||
22,000 | L’Occitane International SA | 63,787 | ||||||
100,579 | Regus Plc | 255,912 | ||||||
13,027,491 | ||||||||
MALAYSIA — 0.7% | ||||||||
61,000 | Aeon Co. (M) Berhad | 290,715 | ||||||
8,520 | Aeon Credit Service M Berhad | 40,325 | ||||||
317,300 | Affin Holdings Berhad | 369,184 | ||||||
608,300 | AirAsia Berhad | 585,807 | ||||||
20,200 | Alam Maritim Resources Berhad(b) | 6,009 | ||||||
739,000 | Alliance Financial Group Berhad | 1,083,300 | ||||||
45,800 | Amway (Malaysia) Holdings Berhad | 177,630 | ||||||
99,800 | Ann Joo Resources Berhad | 38,050 | ||||||
1,315,400 | APM Automotive Holdings Berhad(d) | 2,204,943 | ||||||
2,176,700 | Axis Real Estate Investment Trust(d) | 2,661,405 | ||||||
32,700 | Batu Kawan Berhad | 195,824 | ||||||
95,933 | Berjaya Assets Berhad | 27,590 | ||||||
643,800 | Berjaya Corp. Berhad. | 110,033 | ||||||
206,284 | Berjaya Sports Toto Berhad | 284,763 | ||||||
180,500 | BIMB Holdings Berhad | 208,235 | ||||||
644,400 | Bintulu Port Holdings Berhad(d) | 1,524,956 | ||||||
400 | Boustead Heavy Industries Corp. Berhad | 276 |
43 |
|
Old Westbury Funds, Inc. | |
Global Small & Mid Cap Fund | |
Portfolio of Investments - (Continued) | April 30, 2013 |
(Unaudited) |
Shares | Value | |||||||
MALAYSIA (continued) | ||||||||
365,904 | Boustead Holdings Berhad | $ | 615,753 | |||||
41,100 | Bursa Malaysia Berhad | 96,587 | ||||||
20,000 | Cahya Mata Sarawak Berhad | 21,956 | ||||||
75,100 | Carlsberg Brewery-Malaysia Berhad | 368,774 | ||||||
49,030 | CB Industrial Product Holding Berhad | 40,288 | ||||||
2,200 | Dayang Enterprise Holdings Berhad | 2,545 | ||||||
4,603,552 | Dialog Group Berhad | 3,586,004 | ||||||
129,600 | Dijaya Corp. Berhad | 64,747 | ||||||
209,300 | DRB-Hicom Berhad | 172,668 | ||||||
475,000 | Eastern & Oriental Berhad | 257,601 | ||||||
71,337 | ECM Libra Financial Group Berhad | 15,709 | ||||||
116,100 | Evergreen Fibreboard Berhad | 18,889 | ||||||
20,800 | Fraser & Neave Holdings Berhad | 124,697 | ||||||
739,900 | Gamuda Berhad | 989,776 | ||||||
89,300 | Genting Plantations Berhad | 251,243 | ||||||
58,000 | Glomac Berhad | 17,919 | ||||||
85,200 | Green Packet Berhad(b) | 9,241 | ||||||
76,900 | Guinness Anchor Berhad | 466,581 | ||||||
15,900 | Hai-O Enterprise Berhad | 11,967 | ||||||
499,380 | HAP Seng Consolidated Berhad | 279,029 | ||||||
110,500 | Hap Seng Plantations Holdings Berhad | 98,424 | ||||||
1,617,200 | Hartalega Holdings Berhad(d) | 2,785,252 | ||||||
19,992 | Hock Seng LEE Berhad | 9,528 | ||||||
92,500 | Hong Leong Financial Group Berhad | 471,241 | ||||||
51,500 | Hong Leong Industries Berhad | 71,262 | ||||||
350,930 | IGB Corp. Berhad | 272,209 | ||||||
833,940 | IJM Corp. Berhad | 1,493,828 | ||||||
192,200 | IJM Land Berhad | 162,983 | ||||||
125,900 | IJM Plantations Berhad | 122,900 | ||||||
24,800 | JAKS Resources Berhad(b) | 2,853 | ||||||
32,800 | JT International Berhad | 69,212 | ||||||
99,105 | K&N Kenanga Holdings Berhad | 17,753 | ||||||
44,400 | Karambunai Corp. Berhad(b) | 1,532 | ||||||
89,800 | Keck Seng (Malaysia) Berhad | 139,607 | ||||||
103,900 | Kian JOO CAN Factory Berhad | 81,276 | ||||||
70,600 | Kinsteel Berhad(b) | 6,845 | ||||||
293,400 | KLCC Property Holdings Berhad(c) | 699,145 | ||||||
1,745,750 | KPJ Healthcare Berhad | 3,482,893 | ||||||
105,000 | KSK Group Berhad | 21,224 | ||||||
13,900 | KSL Holdings Berhad(b) | 9,137 | ||||||
370,600 | Kulim Malaysia Berhad | 436,072 | ||||||
52,850 | Kumpulan Fima Berhad | 33,525 | ||||||
87,500 | Lafarge Malayan Cement Berhad | 285,292 | ||||||
157,800 | Landmarks Berhad(b) | 49,013 | ||||||
97,400 | Lingkaran Trans Kota Holdings Berhad | 142,459 | ||||||
142,700 | Lion Industries Corp. Berhad | 45,495 | ||||||
15,500 | LPI Capital Berhad | 70,304 |
Shares | Value | |||||||
MALAYSIA (continued) | ||||||||
323,173 | Mah Sing Group Berhad | $ | 241,118 | |||||
121,750 | Malayan Flour Mills Berhad | 51,221 | ||||||
156,054 | Malaysia Airports Holdings Berhad | 308,774 | ||||||
114,500 | Malaysia Building Society | 103,492 | ||||||
58,100 | Malaysian Airline System Berhad(b) | 12,985 | ||||||
78,300 | Malaysian Bulk Carriers Berhad | 38,088 | ||||||
31,313 | Malaysian Pacific Industries Berhad | 25,730 | ||||||
291,250 | Malaysian Resources Corp. Berhad | 134,975 | ||||||
37,180 | MBM Resources Berhad | 45,215 | ||||||
262,400 | Media Prima Berhad | 206,125 | ||||||
434,400 | MMC Corp. Berhad | 364,082 | ||||||
189,500 | Muhibbah Engineering M Berhad | 69,758 | ||||||
489,900 | Mulpha International Berhad(b) | 61,992 | ||||||
17,900 | Naim Holdings Berhad | 14,708 | ||||||
157,000 | Nam Cheong Ltd. | 33,141 | ||||||
710,100 | NCB Holdings Berhad(d) | 1,068,943 | ||||||
3,800 | Nestle Malaysia Berhad | 77,187 | ||||||
102,200 | Oriental Holdings Berhad | 328,518 | ||||||
441,390 | OSK Holdings Berhad | 232,120 | ||||||
4,700 | Padini Holdings Berhad | 2,765 | ||||||
4,300 | Panasonic Manufacturing Malaysia Berhad | 31,573 | ||||||
43,120 | Paramount Corp. Berhad | 21,117 | ||||||
112,459 | Parkson Holdings Berhad | 155,983 | ||||||
43,248 | Pelikan International Corp. Berhad | 7,321 | ||||||
142,800 | POS Malaysia Berhad | 204,168 | ||||||
55,600 | Press Metal Berhad | 32,711 | ||||||
3,005,200 | QL Resources Berhad(d) | 2,953,344 | ||||||
330,240 | Sapurakencana Petroleum Berhad(b) | 345,165 | ||||||
36,200 | Sarawak Oil Palms Berhad | 66,986 | ||||||
2,300 | Selangor Properties Berhad | 2,948 | ||||||
75,100 | Shangri-La Hotels (Malaysia) Berhad | 125,640 | ||||||
28,800 | Shell Refining Co. Federation of Malaya Berhad | 79,987 | ||||||
93,800 | Star Publications Malaysia Berhad | 74,917 | ||||||
18,690 | Subur Tiasa Holdings Berhad(d) | 11,303 | ||||||
332,745 | Sunway Berhad | 317,160 | ||||||
89,164 | Ta Ann Holdings Berhad | 102,279 | ||||||
682,700 | TA Enterprise Berhad | 113,316 | ||||||
195,360 | TA Global Berhad | 15,089 | ||||||
210,800 | TAN Chong Motor Holdings Berhad | 376,218 | ||||||
74,000 | TDM Berhad | 106,774 | ||||||
51,200 | TH Plantations Berhad | 36,854 | ||||||
315,760 | Time dotCom Berhad | 412,019 | ||||||
120,960 | Top Glove Corp. Berhad | 251,263 | ||||||
275,400 | Tradewinds Corp. Berhad | 97,759 |
44 |
|
Old Westbury Funds, Inc. | |
Global Small & Mid Cap Fund | |
Portfolio of Investments - (Continued) | April 30, 2013 |
(Unaudited) |
Shares | Value | |||||||
MALAYSIA (continued) | ||||||||
57,200 | TSH Resources Berhad | $ | 40,421 | |||||
285,308 | UEM Land Holdings Berhad(b) | 235,373 | ||||||
227,200 | UMW Holdings Berhad | 1,067,859 | ||||||
59,900 | Unico-Desa Plantations Berhad | 21,066 | ||||||
128,080 | Unisem (M) Berhad | 36,203 | ||||||
15,000 | United Malacca Berhad | 35,990 | ||||||
38,700 | United Plantations Berhad | 354,882 | ||||||
131,156 | Wah Seong Corp. Berhad | 70,266 | ||||||
2,861,300 | Wellcall Holdings Berhad(d) | 2,040,763 | ||||||
170,700 | WTK Holdings Berhad | 54,703 | ||||||
140,671 | YNH Property Berhad | 85,535 | ||||||
41,000 | YTL Land & Development Berhad(b) | 12,061 | ||||||
654,300 | YTL Power International Berhad | 324,731 | ||||||
25,600 | Zhulian Corp. Berhad | 22,718 | ||||||
42,067,685 | ||||||||
MALTA — 0.0% | ||||||||
10,130 | Brait SE(b) | 41,385 | ||||||
8,169 | Unibet Group Plc - SDR | 283,600 | ||||||
324,985 | ||||||||
MAURITIUS — 0.0% | ||||||||
141,022 | Essar Energy Plc(b) | 313,251 | ||||||
MEXICO — 0.6% | ||||||||
1,341,000 | Alfa SAB de CV - Series A | 3,113,314 | ||||||
22,751 | Alsea SAB de CV(b) | 69,346 | ||||||
414,805 | Arca Continental SAB de CV | 3,394,676 | ||||||
1,673,300 | Asesor de Activos Prisma SAPI de CV REIT(b) | 3,051,058 | ||||||
997 | Axtel SAB de CV - CPO Shares(b) | 331 | ||||||
392,900 | Bolsa Mexicana de Valores SAB de CV | 1,073,637 | ||||||
1,391,832 | Cemex SAB de CV - CPO Units(b) | 1,570,386 | ||||||
1,800 | Cia Minera Autlan SAB de CV - Series B | 1,597 | ||||||
83,761 | Consorcio ARA SAB de CV(b) | 27,593 | ||||||
227,687 | Controladora Comercial Mexicana SAB de CV - Units | 875,885 | ||||||
1,650,900 | Corp Inmobiliaria Vesta SAB de CV(d) | 3,805,596 | ||||||
800 | Corp. Actinver SAB de CV | 875 | ||||||
78,869 | Corp. GEO SAB de CV - Series B(b) | 27,346 | ||||||
65,708 | Corp. Interamericana de Entretenimiento SAB de CV - Series B(b)(d) | 47,215 | ||||||
27,300 | Corp. Moctezuma SAB de CV | 84,987 | ||||||
10,362 | Desarrolladora Homex SAB de CV(b) | 8,406 | ||||||
136,820 | Empresas ICA SAB de CV(b) | 376,353 | ||||||
22,800 | Financiera Independencia SAB de CV(b) | 10,684 |
Shares | Value | |||||||
MEXICO (continued) | ||||||||
138,700 | Genomma Lab Internacional SAB de CV - Class B(b) | $ | 300,193 | |||||
53,869 | Gruma SAB de CV - Series B(b) | 267,298 | ||||||
109,917 | Grupo Aeroportuario del Centro Norte SAB de CV | 420,394 | ||||||
430,800 | Grupo Aeroportuario del Pacifico SAB de CV - Series B | 2,491,355 | ||||||
164,456 | Grupo Aeroportuario del Sureste SAB de CV - Series B | 2,041,089 | ||||||
1,600 | Grupo Carso SAB de CV - Series A1 | 9,120 | ||||||
120,492 | Grupo Cementos de Chihuahua SAB de CV(b)(d) | 431,962 | ||||||
45,878 | Grupo Comercial Chedraui SA de CV | 174,863 | ||||||
55,600 | Grupo Famsa SAB de CV(b) | 110,584 | ||||||
52,600 | Grupo Herdez SAB de CV | 191,473 | ||||||
57,500 | Grupo Industrial Maseca SAB de CV - Series B | 96,131 | ||||||
12,400 | Grupo Industrial Saltillo SAB de CV | 28,389 | ||||||
45,400 | Grupo Simec SAB de CV - Series B(b) | 209,496 | ||||||
264,100 | Impulsora del Desarrollo y El Empleo en America Latina SAB de CV(b) | 640,115 | ||||||
10,860 | Industrias Bachoco SAB de CV - Series B | 30,785 | ||||||
170,175 | Industrias CH SAB de CV - Series B(b) | 1,370,953 | ||||||
11,100 | Inmuebles Carso SAB de CV - Series B1(b) | 11,061 | ||||||
41,776 | Kimberly-Clark de Mexico SAB de CV - Class A | 146,051 | ||||||
1,175,900 | Macquarie Mexico Real Estate Management SA de CV REIT(b) | 2,842,350 | ||||||
100 | Medica Sur SAB de CV - Series B | 243 | ||||||
16,200 | Megacable Holdings SAB de CV - CPO Shares | 52,900 | ||||||
4,857 | Mexichem SAB de CV | 24,776 | ||||||
18,386 | OHL Mexico SAB de CV(b) | 56,904 | ||||||
115,299 | Organizacion Soriana SAB de CV - Series B | 474,782 | ||||||
59,600 | Promotora y Operadora de Infraestructura SAB de CV(b) | 531,734 | ||||||
46,400 | Qualitas Controladora SAB de CV | 105,049 | ||||||
3,209 | Sare Holding SAB de CV - Class B(b) | 122 | ||||||
427,400 | TV Azteca SAB de CV - CPO Shares | 316,441 | ||||||
67,123 | Urbi Desarrollos Urbanos SAB de CV(b) | 9,950 | ||||||
30,925,848 |
45 |
|
Old Westbury Funds, Inc. | |
Global Small & Mid Cap Fund | |
Portfolio of Investments - (Continued) | April 30, 2013 |
(Unaudited) |
Shares | Value | |||||||
MONACO — 0.0% | ||||||||
480 | Societe des Bains de Mer et du Cercle des Etrangers a Monaco | $ | 20,892 | |||||
MONGOLIA — 0.0% | ||||||||
379,000 | Mongolian Mining Corp.(b) | 112,330 | ||||||
NETHERLANDS — 0.9% | ||||||||
47,325 | Aalberts Industries NV | 1,060,454 | ||||||
9,250 | Accell Group NV | 168,961 | ||||||
16,990 | AMG Advanced Metallurgical Group NV(b) | 156,401 | ||||||
4,482 | Amsterdam Commodities NV | 99,399 | ||||||
5,838 | Arcadis NV | 161,494 | ||||||
42,228 | ASM International NV | 1,408,935 | ||||||
33,735 | BE Semiconductor Industries NV | 315,434 | ||||||
5,643 | Beter Bed Holding NV. | 105,900 | ||||||
36,934 | BinckBank NV | 283,038 | ||||||
5,454 | Brunel International NV | 231,030 | ||||||
1,510 | Cinema City International NV(b) | 12,496 | ||||||
31,340 | CSM | 701,232 | ||||||
22,379 | DE Master Blenders 1753 NV(b) | 354,843 | ||||||
61,642 | Delta Lloyd NV. | 1,181,161 | ||||||
2,240 | Exact Holding NV | 47,671 | ||||||
15,923 | Fugro NV - CVA | 921,099 | ||||||
25,465 | Gemalto NV | 2,080,582 | ||||||
26,837 | Grontmij(b) | 129,603 | ||||||
10,856 | Heijmans NV - CVA | 99,649 | ||||||
654 | Hunter Douglas NV | 26,708 | ||||||
16,012 | Kardan NV(b) | 10,923 | ||||||
5,538 | KAS Bank NV - CVA | 61,993 | ||||||
5,597 | Kendrion NV | 137,616 | ||||||
143,792 | Koninklijke BAM Groep NV | 636,273 | ||||||
528,479 | Koninklijke Boskalis Westminster NV | 22,010,389 | ||||||
14,713 | Koninklijke Ten Cate NV | 357,202 | ||||||
9,491 | Koninklijke Vopak NV | 525,715 | ||||||
68,974 | Koninklijke Wessanen NV | 241,985 | ||||||
7,790 | Macintosh Retail Group NV | 89,664 | ||||||
95 | Nederland Apparatenfabriek | 3,960 | ||||||
1,511 | New World Resources Plc - Class A | 3,638 | ||||||
18,557 | Nutreco NV | 1,761,293 | ||||||
40,204 | Ordina NV(b) | 66,183 | ||||||
104,698 | PostNL NV(b) | 238,260 | ||||||
321,191 | QIAGEN NV(b)(e) | 6,393,534 | ||||||
80,000 | QIAGEN NV(b)(e) | 1,590,400 | ||||||
113,540 | Randstad Holding NV | 4,727,282 | ||||||
16,720 | Royal Imtech NV(b) | 185,844 | ||||||
59,258 | SBM Offshore NV(b) | 953,647 | ||||||
11,287 | Sligro Food Group NV. | 371,610 | ||||||
86,230 | SNS REAAL NV(b)(c)(d) | 0 | ||||||
10,358 | Telegraaf Media Groep NV | 122,223 | ||||||
15,951 | TKH Group NV | 432,738 | ||||||
100,323 | TNT Express NV | 770,791 |
Shares | Value | |||||||
NETHERLANDS (continued) | ||||||||
60,046 | TomTom NV(b) | $ | 270,525 | |||||
9,665 | Unit4 NV | 329,536 | ||||||
43,248 | USG People NV | 338,145 | ||||||
35,647 | Wolters Kluwer NV | 788,682 | ||||||
5,243 | Xeikon NV(b) | 31,790 | ||||||
52,997,931 | ||||||||
NEW ZEALAND — 0.4% | ||||||||
30,797 | A2 Corp. Ltd.(b) | 18,478 | ||||||
155,194 | Air New Zealand Ltd. | 199,536 | ||||||
3,210,865 | Auckland International Airport Ltd. | 8,531,778 | ||||||
29,737 | Chorus Ltd. | 70,095 | ||||||
141,294 | Contact Energy Ltd. | 639,460 | ||||||
13,867 | Ebos Group Ltd. | 115,295 | ||||||
42,299 | Fisher & Paykel Healthcare Corp. Ltd. | 96,080 | ||||||
28,085 | Freightways Ltd. | 108,329 | ||||||
6,326 | Hallenstein Glasson Holdings Ltd. | 30,582 | ||||||
38,459 | Heartland New Zealand Ltd. | 25,713 | ||||||
67,426 | Infratil Ltd. | 133,215 | ||||||
13,416 | Kathmandu Holdings Ltd. | 25,874 | ||||||
32,296 | Mainfreight Ltd. | 291,773 | ||||||
33,862 | New Zealand Oil & Gas Ltd. | 23,800 | ||||||
38,630 | New Zealand Refining Co. Ltd. (The) | 80,130 | ||||||
88,172 | Nuplex Industries Ltd. | 251,670 | ||||||
45,243 | NZX Ltd. | 51,577 | ||||||
29,901 | PGG Wrightson Ltd. | 9,739 | ||||||
80,140 | Pike River Coal Ltd.(b)(c)(d) | 0 | ||||||
56,739 | Port of Tauranga Ltd.(d) | 753,823 | ||||||
13,536 | Pumpkin Patch Ltd.(b) | 13,459 | ||||||
18,968 | Rakon Ltd.(b) | 3,902 | ||||||
19,670 | Restaurant Brands New Zealand Ltd. | 49,906 | ||||||
130,479 | Ryman Healthcare Ltd. | 682,223 | ||||||
15,128 | Sanford Ltd. | 59,648 | ||||||
48,111 | Skellerup Holdings Ltd. | 61,033 | ||||||
99,091 | Sky Network Television Ltd. | 485,832 | ||||||
2,004,525 | SKYCITY Entertainment Group Ltd. | 7,663,059 | ||||||
12,028 | Steel & Tube Holdings Ltd. | 26,805 | ||||||
43,254 | Tower Ltd. | 63,769 | ||||||
41,749 | TrustPower Ltd.(d) | 261,231 | ||||||
58,037 | Vector Ltd. | 138,295 | ||||||
34,146 | Warehouse Group Ltd. (The) | 115,609 | ||||||
21,081,718 | ||||||||
NORWAY — 0.2% | ||||||||
46,741 | ABG Sundal Collier Holding ASA | 34,044 | ||||||
146 | AF Gruppen ASA | 1,494 | ||||||
31,265 | Agasti Holding ASA(b) | 6,777 | ||||||
11,391 | Aker ASA - Class A | 351,617 | ||||||
8,076 | Algeta ASA(b) | 273,798 | ||||||
34,500 | Atea ASA | 369,440 |
46 |
|
Old Westbury Funds, Inc. | |
Global Small & Mid Cap Fund | |
Portfolio of Investments - (Continued) | April 30, 2013 |
(Unaudited) |
Shares | Value | |||||||
PERU — 0.1% | ||||||||
886,450 | Alicorp SA(d) | $ | 3,337,184 | |||||
202,338 | Copeinca ASA(d) | 2,122,856 | ||||||
1,981,640 | Ferreycorp SAA | 1,709,474 | ||||||
7,169,514 | ||||||||
PHILIPPINES — 0.3% | ||||||||
108,200 | Alliance Global Group, Inc. | 62,302 | ||||||
232,400 | Atlas Consolidated Mining & Development | 117,160 | ||||||
64,367 | BDO Unibank, Inc.(b) | 143,403 | ||||||
120,166 | Belle Corp.(b) | 18,918 | ||||||
89,510 | China Banking Corp. | 150,271 | ||||||
337,200 | DMCI Holdings, Inc. | 467,378 | ||||||
2,243,800 | Energy Development Corp. | 354,887 | ||||||
2,159,375 | Filinvest Land, Inc. | 107,024 | ||||||
409,000 | First Gen Corp.(b) | 224,076 | ||||||
213,520 | First Philippine Holdings Corp. | 555,069 | ||||||
465,000 | Global-Estate Resorts, Inc.(b) | 28,808 | ||||||
15,090 | Globe Telecom, Inc. | 524,264 | ||||||
5,307,700 | GMA Holdings, Inc. - PDR(d) | 1,286,950 | ||||||
237,090 | International Container Terminal Services, Inc. | 529,939 | ||||||
155,000 | Jollibee Foods Corp. | 483,904 | ||||||
93,834 | Lafarge Republic, Inc. | 24,758 | ||||||
1,320,000 | Lepanto Consolidated Mining - B Shares(b) | 30,787 | ||||||
1,379,000 | Lopez Holdings Corp. | 234,189 | ||||||
3,894,100 | Manila Water Co., Inc. | 3,779,623 | ||||||
10,796,696 | Megaworld Corp. | 1,088,588 | ||||||
140,000 | Metro Pacific Investments Corp. | 20,714 | ||||||
300,578 | Metropolitan Bank & Trust. | 909,183 | ||||||
1,369,800 | Nickel Asia Corp. | 775,421 | ||||||
623,000 | Pepsi-Cola Products Philippines, Inc.(b) | 94,298 | ||||||
126,720 | Philweb Corp. | 43,718 | ||||||
135,000 | Rizal Commercial Banking Corp. | 242,711 | ||||||
538,500 | Robinsons Land Corp. | 336,235 | ||||||
171,868 | Security Bank Corp. | 823,430 | ||||||
48,220 | Semirara Mining Corp. | 351,458 | ||||||
832,152 | SM Development Corp. | 171,849 | ||||||
102,600 | Union Bank of Philippines. | 362,939 | ||||||
509,115 | Universal Robina Corp. | 1,470,694 | ||||||
2,843,000 | Vista Land & Lifescapes, Inc. | 453,802 | ||||||
16,268,750 | ||||||||
POLAND — 0.1% | ||||||||
9,002 | Agora SA | 17,663 | ||||||
1,432 | AmRest Holdings SE(b) | 36,708 | ||||||
17,254 | Asseco Poland SA | 234,032 | ||||||
26,856 | Bank Handlowy w Warszawie SA. | 798,919 | ||||||
84,867 | Bank Millennium SA(b) | 129,724 | ||||||
375,702 | Boryszew SA(b) | 53,504 | ||||||
6,150 | BRE Bank SA(b) | 672,640 | ||||||
6,112 | Budimex SA | 149,326 |
47 |
|
Old Westbury Funds, Inc. | |
Global Small & Mid Cap Fund | |
Portfolio of Investments - (Continued) | April 30, 2013 |
(Unaudited) |
Shares | Value | |||||||
POLAND (continued) | ||||||||
7,771 | Ciech SA(b) | $ | 53,859 | |||||
1,000 | Dom Development SA. | 10,444 | ||||||
2,276 | Emperia Holding SA | 39,565 | ||||||
14,906 | Enea SA(b) | 61,325 | ||||||
32,056 | Eurocash SA | 577,238 | ||||||
5,542 | Farmacol SA(b) | 89,097 | ||||||
207,050 | Getin Holdings SA. | 146,121 | ||||||
609,243 | Getin Noble Bank SA(b) | 302,708 | ||||||
2,643 | Grupa Azoty SA | 50,914 | ||||||
3,848 | Grupa Kety SA | 171,707 | ||||||
27,433 | Grupa Lotos SA(b) | 329,646 | ||||||
2,830 | ING Bank Slaski SA(b) | 80,695 | ||||||
2,620 | Inter Cars SA | 81,257 | ||||||
2,743 | Jastrzebska Spolka Weglowa SA. | 72,485 | ||||||
10,387 | Kopex SA(b) | 36,488 | ||||||
350 | LPP SA. | 708,894 | ||||||
1,502 | Lubelski Wegiel Bogdanka SA | 55,615 | ||||||
219,284 | Netia SA(b) | 291,467 | ||||||
10,774 | Orbis SA | 119,849 | ||||||
2,139 | Pelion SA | 39,600 | ||||||
93,126 | Polimex-Mostostal SA(b) | 8,252 | ||||||
6,109 | Polnord SA(b) | 9,125 | ||||||
18,559 | Rafako SA(b) | 17,620 | ||||||
158 | Stalprodukt SA(b) | 8,025 | ||||||
363,944 | Synthos SA | 542,487 | ||||||
9,084 | Tauron Polska Energia SA | 12,103 | ||||||
37,193 | TVN SA | 102,403 | ||||||
119 | Zaklady Chemiczne Police SA | 791 | ||||||
1,265 | Zaklady Tluszczowe Kruszwica SA. | 12,775 | ||||||
6,125,071 | ||||||||
PORTUGAL — 0.1% | ||||||||
16,720 | Altri SGPS SA | 43,268 | ||||||
97,795 | Banco BPI SA(b) | 140,382 | ||||||
3,828,745 | Banco Comercial Portugues SA(b) | 529,438 | ||||||
1,079,927 | Banco Espirito Santo SA(b) | 1,235,901 | ||||||
31,884 | BANIF - Banco Internacional do Funchal SA(b) | 5,039 | ||||||
39,805 | Cimpor Cimentos de Portugal SGPS SA | 179,281 | ||||||
2,336 | Corticeira Amorim SGPS SA | 6,122 | ||||||
37,265 | INAPA - Investimentos Participacoes e Gestao SA(b) . | 8,343 | ||||||
49,289 | Mota-Engil SGPS SA | 136,313 | ||||||
272 | Novabase SGPS SA | 1,019 | ||||||
87,362 | Portucel SA | 317,197 | ||||||
74,918 | Portugal Telecom SGPS SA | 390,805 | ||||||
39,281 | REN - Redes Energeticas Nacionais SGPS SA | 119,706 | ||||||
15,447 | SAG GEST-Solucoes Automovel Globais SGPS SA(b) | 5,289 | ||||||
21,302 | Semapa - Sociedade de Investimento e Gestao | 201,425 | ||||||
109,476 | Sonae. | 106,401 | ||||||
15,150 | Sonae Industria SGPS SA(b) | 10,814 |
Shares | Value | |||||||
PORTUGAL (continued) | ||||||||
66,876 | Sonaecom - SGPS SA | $ | 156,593 | |||||
11,475 | Teixeira Duarte SA(b) | 6,800 | ||||||
8,732 | Zon Multimedia Servicos de Telecomunicacoes e Multimedia SGPS SA | 39,214 | ||||||
3,639,350 | ||||||||
RUSSIA — 0.0% | ||||||||
24,397 | Alliance Oil Co. Ltd. - SDR(b) | 194,241 | ||||||
SINGAPORE — 1.8% | ||||||||
51,000 | Abterra Ltd.(b) | 27,535 | ||||||
22,000 | Amara Holdings Ltd. | 10,449 | ||||||
5,390,000 | Ascendas Real Estate Investment Trust | 12,034,180 | ||||||
155,400 | ASL Marine Holdings Ltd. | 85,794 | ||||||
123,000 | Ausgroup Ltd. | 52,428 | ||||||
136,000 | Banyan Tree Holdings Ltd.(b) | 67,906 | ||||||
165,000 | Biosensors International Group Ltd.(b) | 160,753 | ||||||
7,400 | Bonvests Holdings Ltd. | 6,759 | ||||||
105,000 | Boustead Singapore Ltd. | 115,937 | ||||||
39,000 | Breadtalk Group Ltd. | 30,714 | ||||||
132,000 | Broadway Industrial Group Ltd. | 33,222 | ||||||
40,000 | Bukit Sembawang Estates Ltd. | 231,550 | ||||||
47,355 | Cape Plc | 219,389 | ||||||
10,478,000 | CapitaMall Trust REIT | 19,736,105 | ||||||
111,000 | CH Offshore Ltd. | 41,905 | ||||||
35,000 | China Aviation Oil Singapore Corp. Ltd. | 29,268 | ||||||
51,000 | China Merchants Holdings Pacific Ltd. | 37,680 | ||||||
192,000 | Chip Eng Seng Corp. Ltd. | 127,044 | ||||||
331,000 | ComfortDelGro Corp. Ltd. | 533,438 | ||||||
137,000 | Cosco Corp. Singapore Ltd. | 97,325 | ||||||
6,000 | Creative Technology Ltd. | 12,763 | ||||||
303,000 | CSC Holdings Ltd. | 26,814 | ||||||
110,000 | CSE Global Ltd. | 75,465 | ||||||
143,000 | CWT Ltd. | 196,789 | ||||||
13,000 | Elec & Eltek International Co. Ltd. | 30,419 | ||||||
14,000 | Ellipsiz Ltd. | 966 | ||||||
15,600 | Eu Yan Sang International Ltd. | 8,106 | ||||||
8,653,400 | Ezra Holdings Ltd.(b) | 6,709,424 | ||||||
100,000 | Falcon Energy Group Ltd.(b) | 29,228 | ||||||
130,121 | Far East Orchard Ltd. | 235,585 | ||||||
179,000 | First Resources Ltd. | 251,417 | ||||||
183,000 | FJ Benjamin Holdings Ltd. | 39,372 | ||||||
28,000 | Food Empire Holdings Ltd. | 15,004 | ||||||
8,000 | Forterra Trust - Units(b) | 12,795 | ||||||
986,000 | Fragrance Group Ltd. | 196,127 | ||||||
654,579 | Freight Links Express Holdings Ltd. | 46,236 | ||||||
306,000 | Gallant Venture Ltd.(b) | 69,562 | ||||||
2,000 | GK Goh Holdings Ltd. | 1,380 | ||||||
985,000 | GMG Global Ltd. | 91,966 | ||||||
89,000 | Goodpack Ltd. | 121,393 |
48 |
|
Old Westbury Funds, Inc. | |
Global Small & Mid Cap Fund | |
Portfolio of Investments - (Continued) | April 30, 2013 |
(Unaudited) |
Shares | Value | |||||||
SINGAPORE (continued) | ||||||||
15,000 | GP Batteries International Ltd. | $ | 13,031 | |||||
80,000 | GP Industries Ltd. | 31,176 | ||||||
164,666 | Guocoland Ltd. | 302,139 | ||||||
111,000 | GuocoLeisure Ltd. | 78,854 | ||||||
167,000 | Guthrie GTS Ltd. | 103,045 | ||||||
21,000 | Hanwell Holdings Ltd. | 5,115 | ||||||
692,875 | Healthway Medical Corp. Ltd.(b) | 52,878 | ||||||
113,000 | HG Metal Manufacturing Ltd. | 8,899 | ||||||
55,000 | Hiap Seng Engineering Ltd. | 13,619 | ||||||
18,000 | Hi-P International Ltd. | 10,230 | ||||||
109,000 | Ho Bee Investment Ltd. | 190,265 | ||||||
274,800 | Hong Fok Corp. Ltd.(b) | 150,597 | ||||||
131,000 | Hong Leong Asia Ltd. | 172,830 | ||||||
137,600 | Hotel Properties Ltd. | 385,419 | ||||||
3,000 | Hour Glass Ltd. (The) | 4,287 | ||||||
126,000 | HTL International Holdings Ltd. | 31,201 | ||||||
65,000 | HupSteel Ltd. | 12,402 | ||||||
126,000 | Hwa Hong Corp. Ltd. | 37,339 | ||||||
4,929,000 | Hyflux Ltd.(d) | 5,482,447 | ||||||
205,000 | Indofood Agri Resources Ltd. | 177,255 | ||||||
92,000 | InnoTek Ltd. | 22,035 | ||||||
112,000 | IPC Corp. Ltd. | 13,458 | ||||||
194,000 | Jaya Holdings Ltd. | 105,529 | ||||||
101,000 | Jiutian Chemical Group Ltd.(b) | 7,626 | ||||||
92,950 | Jurong Technologies Industrial Corp. Ltd.(b)(c)(d) | 0 | ||||||
71,000 | K1 Ventures Ltd. | 9,281 | ||||||
34,000 | Keppel Telecommunications & Transportation Ltd. | 37,818 | ||||||
13,000 | K-Green Trust - Units | 10,977 | ||||||
195,000 | LC Development Ltd. | 24,064 | ||||||
202,000 | Lian Beng Group Ltd. | 85,281 | ||||||
66,000 | Low Keng Huat Singapore Ltd . | 38,849 | ||||||
75,000 | Lum Chang Holdings Ltd. | 21,008 | ||||||
120,000 | M1 Ltd. | 329,301 | ||||||
74,000 | Manhattan Resources Ltd.(b) | 20,427 | ||||||
6,000 | Marco Polo Marine Ltd. | 2,070 | ||||||
274,000 | Mercator Lines Singapore Ltd.(d) | 25,138 | ||||||
351,800 | Metro Holdings Ltd. | 262,772 | ||||||
101,000 | Mewah International, Inc. | 36,900 | ||||||
448,000 | Midas Holdings Ltd. | 180,044 | ||||||
277,000 | Neptune Orient Lines Ltd.(b) | 246,257 | ||||||
25,000 | NSL Ltd. | 31,156 | ||||||
395,000 | Oceanus Group Ltd.(b) | 16,355 | ||||||
408,000 | Olam International Ltd. | 554,843 | ||||||
95,173 | OM Holdings Ltd.(b) | 38,480 | ||||||
32,000 | OSIM International Ltd. | 51,831 | ||||||
514,500 | Otto Marine Ltd.(b) | 34,670 | ||||||
120,000 | Overseas Union Enterprise Ltd. | 302,996 | ||||||
26,000 | Pan Pacific Hotels Group Ltd. | 48,973 | ||||||
60,000 | Petra Foods Ltd. | 198,750 | ||||||
165,000 | Popular Holdings Ltd. | 37,509 | ||||||
106,215 | QAF Ltd. | 83,647 | ||||||
251,250 | Raffles Education Corp. Ltd.(b) | 65,276 |
Shares | Value | |||||||
SINGAPORE (continued) | ||||||||
64,965 | Raffles Medical Group Ltd. | $ | 180,385 | |||||
121,000 | Rotary Engineering Ltd. | 46,663 | ||||||
231,000 | Roxy-Pacific Holdings Ltd. | 111,590 | ||||||
1,594,000 | S i2i Ltd.(b) | 27,177 | ||||||
17,000 | San Teh Ltd. | 4,624 | ||||||
132,000 | Sapphire Corp. Ltd.(b) | 12,110 | ||||||
5,235,000 | SATS Ltd.(d) | 13,388,203 | ||||||
43,000 | SBS Transit Ltd. | 51,668 | ||||||
3,970,000 | SIA Engineering Co. Ltd.(d) | 16,309,329 | ||||||
100,500 | Sim Lian Group Ltd. | 71,803 | ||||||
569,000 | Sinarmas Land Ltd. | 228,672 | ||||||
70,000 | Singapore Land Ltd. | 502,963 | ||||||
346,000 | Singapore Post Ltd. | 362,377 | ||||||
174,000 | Singapore Reinsurance Corp. Ltd.(d) | 36,730 | ||||||
2,337,000 | SMRT Corp. Ltd.(d) | 2,808,119 | ||||||
484,000 | Stamford Land Corp. Ltd. | 233,807 | ||||||
3,260,000 | StarHub Ltd. | 12,519,120 | ||||||
82,000 | Sunningdale Tech Ltd. | 8,788 | ||||||
184,000 | SunVic Chemical Holdings Ltd.(b) | 65,730 | ||||||
115,000 | Super Group Ltd. | 366,932 | ||||||
230,000 | Swiber Holdings Ltd. | 113,908 | ||||||
73,000 | Tat Hong Holdings Ltd. | 88,309 | ||||||
181,000 | Tiong Woon Corp. Holding Ltd. | 56,576 | ||||||
25,540 | Triyards Holdings Ltd.(b) | 15,655 | ||||||
295,143 | Tuan Sing Holdings Ltd. | 86,264 | ||||||
114,000 | UMS Holdings Ltd. | 43,964 | ||||||
116,627 | United Engineers Ltd. | 297,320 | ||||||
103,000 | United Envirotech Ltd. | 65,227 | ||||||
420,000 | United Industrial Corp. Ltd.(d) | 1,026,386 | ||||||
232,000 | UOB-Kay Hian Holdings Ltd. | 323,975 | ||||||
302,000 | UOL Group Ltd. | 1,748,202 | ||||||
71,000 | Venture Corp. Ltd. | 479,597 | ||||||
20,000 | WBL Corp. Ltd. | 67,387 | ||||||
209,812 | Wheelock Properties (Singapore) Ltd. | 333,873 | ||||||
155,420 | Wing Tai Holdings Ltd. | 275,080 | ||||||
1,436 | XP Power Ltd. | 26,767 | ||||||
86,000 | Yanlord Land Group Ltd.(b) | 98,449 | ||||||
26,987 | Yeo Hiap Seng Ltd. | 56,529 | ||||||
37,000 | YHI International Ltd. | 9,162 | ||||||
156,000 | Yongnam Holdings Ltd. | 37,996 | ||||||
104,643,957 | ||||||||
SOUTH AFRICA — 0.7% | ||||||||
431,520 | Adcock Ingram Holdings Ltd. | 2,933,384 | ||||||
508 | Adcorp Holdings Ltd. | 1,630 | ||||||
114,293 | Advtech Ltd. | 84,062 | ||||||
59,169 | Aeci Ltd. | 662,012 | ||||||
227,840 | Afgri Ltd. | 123,905 | ||||||
415,886 | African Bank Investments Ltd. | 1,320,398 | ||||||
2,145 | African Oxygen Ltd. | 4,948 | ||||||
44,678 | African Rainbow Minerals Ltd. | 880,665 | ||||||
13,164 | Allied Electronics Corp. Ltd. | 30,660 | ||||||
21,133 | Allied Technologies Ltd. | 75,385 |
49 |
|
Old Westbury Funds, Inc. | |
Global Small & Mid Cap Fund | |
Portfolio of Investments - (Continued) | April 30, 2013 |
(Unaudited) |
Shares | Value | |||||||
SOUTH AFRICA (continued) | ||||||||
4,378 | ArcelorMittal South Africa Ltd.(b) | $ | 11,216 | |||||
419 | Argent Industrial Ltd. | 271 | ||||||
561 | Assore Ltd. | 18,221 | ||||||
11,620 | Astral Foods Ltd. | 122,370 | ||||||
125,307 | Aveng Ltd. | 411,941 | ||||||
128,958 | AVI Ltd. | 776,033 | ||||||
105,076 | Barloworld Ltd. | 1,100,701 | ||||||
25,967 | Basil Read Holdings Ltd.(b) | 31,831 | ||||||
28,795 | Blue Label Telecoms Ltd. | 24,741 | ||||||
32,224 | Business Connexion Group Ltd. | 19,391 | ||||||
8,369 | Capitec Bank Holdings Ltd. | 203,790 | ||||||
2,456 | Cashbuild Ltd. | 35,580 | ||||||
57,968 | Caxton and CTP Publishers and Printers Ltd. | 112,402 | ||||||
185,094 | Cipla Medpro South Africa Ltd. | 193,891 | ||||||
7,765 | City Lodge Hotels Ltd. | 110,848 | ||||||
391,378 | Clicks Group Ltd. | 2,494,770 | ||||||
1,776 | Consolidated Infrastructure Group Ltd.(b) | 3,598 | ||||||
27,334 | Coronation Fund Managers Ltd. | 163,575 | ||||||
107,631 | DataTec Ltd. | 605,713 | ||||||
77,015 | Discovery Ltd. | 701,533 | ||||||
12,341 | Distell Group Ltd. | 174,247 | ||||||
968 | Distribution and Warehousing Network Ltd.(b) | 858 | ||||||
3,822 | DRDGOLD Ltd. | 2,521 | ||||||
382,906 | EOH Holdings Ltd.(d) | 2,110,069 | ||||||
27,664 | Eqstra Holdings Ltd. | 19,114 | ||||||
54,199 | Foschini Group Ltd. (The) | 694,588 | ||||||
10,106 | Gijima Group Ltd.(b) | 101 | ||||||
7,837 | Grand Parade Investments Ltd. | 3,135 | ||||||
106,602 | Grindrod Ltd. | 223,337 | ||||||
556 | Group Five Ltd. | 2,107 | ||||||
44,975 | Harmony Gold Mining Co. Ltd. | 216,518 | ||||||
14,422 | Hudaco Industries Ltd. | 141,592 | ||||||
6,374 | Hulamin Ltd.(b) | 3,410 | ||||||
8,550 | Iliad Africa Ltd. | 4,754 | ||||||
52,630 | Illovo Sugar Ltd. | 203,458 | ||||||
95,843 | Imperial Holdings Ltd. | 2,122,249 | ||||||
61,419 | JD Group Ltd. | 226,279 | ||||||
25,640 | JSE Ltd. | 219,155 | ||||||
182,386 | Lewis Group Ltd. | 1,199,172 | ||||||
59,244 | Liberty Holdings Ltd. | 788,952 | ||||||
70,859 | Life Healthcare Group Holdings Ltd. | 299,355 | ||||||
15,437 | Massmart Holdings Ltd. | 319,973 | ||||||
116,507 | Mediclinic International Ltd. | 844,574 | ||||||
106,290 | Merafe Resources Ltd.(b) | 9,002 | ||||||
20,292 | Metair Investments Ltd. | 75,732 | ||||||
317,966 | MMI Holdings Ltd. | 811,436 | ||||||
76,923 | Mondi Ltd. | 1,028,240 | ||||||
38,912 | Mr. Price Group Ltd. | 559,299 | ||||||
38,126 | Murray & Roberts Holdings Ltd.(b) | 93,345 | ||||||
31,978 | Mvelaserve Ltd.(b) | 29,507 |
Shares | Value | |||||||
SOUTH AFRICA (continued) | ||||||||
202,370 | Nampak Ltd. | $ | 743,764 | |||||
221,676 | Netcare Ltd. | 503,949 | ||||||
62,045 | Northam Platinum Ltd.(b) | 230,175 | ||||||
259,789 | Oceana Group Ltd.(d) | 2,320,687 | ||||||
20,617 | Omnia Holdings Ltd. | 362,322 | ||||||
8,480 | Palabora Mining Co. Ltd.(b) | 100,643 | ||||||
50,737 | Peregrine Holdings Ltd. | 63,326 | ||||||
4,111 | Petmin Ltd. | 1,008 | ||||||
38,560 | Pick’n Pay Stores Ltd. | 182,627 | ||||||
17,834 | Pinnacle Technology Holdings Ltd. | 43,723 | ||||||
256,650 | Pioneer Foods Ltd. | 2,216,568 | ||||||
44,385 | PPC Ltd. | 162,286 | ||||||
50,557 | PSG Group Ltd. | 371,846 | ||||||
1,762 | Raubex Group Ltd. | 3,658 | ||||||
17,348 | Resilient Property Income Fund Ltd. - Units | 114,642 | ||||||
55,765 | Reunert Ltd. | 484,662 | ||||||
11,250 | Santam Ltd. | 220,900 | ||||||
124,455 | Sappi Ltd.(b) | 374,468 | ||||||
9,525 | Sentula Mining Ltd.(b) | 1,433 | ||||||
38,542 | Spar Group Ltd. (The) | 508,968 | ||||||
7,238 | Spur Corp. Ltd. | 24,359 | ||||||
16,434 | Stefanutti Stocks Holdings Ltd. | 15,933 | ||||||
175,669 | Steinhoff International Holdings Ltd.(b) | 468,855 | ||||||
14,635 | Sun International Ltd. | 177,916 | ||||||
118,716 | Super Group Ltd.(b) | 318,966 | ||||||
63,720 | Telkom SA SOC Ltd.(b) | 90,892 | ||||||
14,182 | Times Media Group Ltd.(b) | 26,472 | ||||||
17,866 | Tongaat Hulett Ltd. | 259,822 | ||||||
24,146 | Trencor Ltd. | 170,947 | ||||||
3,598 | Truworths International Ltd. | 35,761 | ||||||
46,017 | Tsogo Sun Holdings Ltd. | 130,767 | ||||||
6,989 | Vukile Property Fund Ltd. - Units | 15,374 | ||||||
8,374 | Wesizwe Platinum Ltd.(b) | 401 | ||||||
9,811 | Wilson Bayly Holmes-Ovcon Ltd. | 168,920 | ||||||
191,832 | Woolworths Holdings Ltd. | 1,495,150 | ||||||
211,907 | Zeder Investments Ltd. | 90,917 | ||||||
38,188,651 | ||||||||
SOUTH KOREA — 1.3% | ||||||||
4,459 | 3S Korea Co. Ltd.(b) | 29,314 | ||||||
705 | Actoz Soft Co. Ltd.(b) | 37,961 | ||||||
4,636 | Advanced Process Systems Corp.(b) | 56,619 | ||||||
850 | Aekyung Petrochemical Co. Ltd. | 43,222 | ||||||
4,302 | Agabang & Co. | 24,258 | ||||||
536 | Ahnlab, Inc. | 28,326 | ||||||
1,511 | AK Holdings, Inc. | 36,153 | ||||||
217 | AMOREPACIFIC Corp. | 177,336 | ||||||
1,882 | AMOREPACIFIC Group | 714,316 | ||||||
1,340 | Asia Cement Co. Ltd. | 86,632 |
50 |
|
Old Westbury Funds, Inc. | |
Global Small & Mid Cap Fund | |
Portfolio of Investments - (Continued) | April 30, 2013 |
(Unaudited) |
Shares | Value | |||||||
SOUTH KOREA (continued) | ||||||||
490 | Asia Paper Manufacturing Co. Ltd. | $ | 10,567 | |||||
32,680 | Asiana Airlines, Inc.(b) | 155,195 | ||||||
921 | AtlasBX Co. Ltd. | 32,615 | ||||||
1,640 | AUK Corp.(b) | 3,239 | ||||||
2,450 | Basic House Co. Ltd. (The)(b) | 45,494 | ||||||
2,891 | Binggrae Co. Ltd. | 359,636 | ||||||
1,230 | Bioland Ltd. | 20,215 | ||||||
48,140 | BS Financial Group, Inc. | 633,824 | ||||||
1,375 | Bukwang Pharmaceutical Co. Ltd. | 20,538 | ||||||
3,300 | Busan City Gas Co. Ltd. | 85,699 | ||||||
2,010 | Byucksan Corp. | 3,522 | ||||||
5,560 | Capro Corp. | 51,496 | ||||||
1,764 | Celltrion, Inc. | 50,615 | ||||||
21,561 | Cheil Industries, Inc. | 1,857,931 | ||||||
19,930 | Cheil Worldwide, Inc.(b) | 492,233 | ||||||
393 | Chin Hung International, Inc.(b) | 464 | ||||||
3,870 | Chong Kun Dang Pharm Corp. | 215,410 | ||||||
73 | Chosun Refractories Co. Ltd. | 4,971 | ||||||
1,970 | CJ CGV Co. Ltd. | 100,709 | ||||||
2,682 | CJ CheilJedang Corp. | 793,909 | ||||||
9,547 | CJ Corp. | 1,252,648 | ||||||
4,976 | CJ E&M Corp.(b) | 168,081 | ||||||
2,137 | CJ Korea Express Co. Ltd.(b) | 205,686 | ||||||
4,679 | CNK International Co. Ltd.(b) | 19,692 | ||||||
1,030 | Cosmax, Inc. | 51,813 | ||||||
6,490 | Cosmochemical Co. Ltd.(b) | 41,192 | ||||||
6,450 | Coway Co. Ltd. | 326,805 | ||||||
329 | Crown Confectionery Co. Ltd. | 82,601 | ||||||
477 | CTC BIO, Inc.(b) | 14,522 | ||||||
4,440 | D.I Corp.(b) | 37,333 | ||||||
3,210 | Dae Dong Industrial Co. Ltd. | 17,459 | ||||||
675 | Dae Han Flour Mills Co. Ltd. | 99,292 | ||||||
16,020 | Dae Won Kang Up Co. Ltd. | 119,135 | ||||||
20,010 | Daechang Co. Ltd. | 24,256 | ||||||
6,690 | Daeduck Electronics Co. | 73,807 | ||||||
7,180 | Daeduck GDS Co. Ltd. | 146,038 | ||||||
4,330 | Daegu Department Store | 53,865 | ||||||
10,500 | Daekyo Co. Ltd. | 74,557 | ||||||
22,484 | Daelim Industrial Co. Ltd. | 1,572,022 | ||||||
9,090 | Daesang Corp. | 350,790 | ||||||
4,530 | Daesang Holdings Co. Ltd. | 36,403 | ||||||
4,240 | Daesung Holdings Co. Ltd. | 35,227 | ||||||
69,215 | Daewoo Engineering & Construction Co. Ltd.(b) | 475,134 | ||||||
13,072 | Daewoo International Corp. | 458,760 | ||||||
40,816 | Daewoo Securities Co. Ltd. | 403,972 | ||||||
29,870 | Daewoo Shipbuilding & Marine Engineering Co. Ltd. | 717,390 | ||||||
844 | Daewoong Co. Ltd. | 23,757 | ||||||
2,740 | Daewoong Pharmaceutical Co. Ltd. | 182,866 | ||||||
12,620 | Daishin Securities Co. Ltd. | 107,029 | ||||||
20,410 | Daou Technology, Inc. | 371,579 |
Shares | Value | |||||||
SOUTH KOREA (continued) | ||||||||
4,792 | Dasan Networks, Inc.(b) | $ | 24,932 | |||||
641 | Daum Communications Corp. | 52,384 | ||||||
3,090 | DCM Corp. | 33,669 | ||||||
52,250 | DGB Financial Group, Inc. | 730,637 | ||||||
1,360 | Dong Ah Tire & Rubber Co. Ltd. | 22,475 | ||||||
252 | Dong-A Socio Holdings Co. Ltd. | 28,603 | ||||||
426 | Dong-A ST Co. Ltd.(b) | 57,636 | ||||||
5,230 | Dongaone Co. Ltd. | 17,381 | ||||||
330 | Dongbang Transport Logistics Co. Ltd. | 857 | ||||||
12,536 | Dongbu HiTek Co. Ltd.(b) | 67,956 | ||||||
9,369 | Dongbu Insurance Co. Ltd. | 378,146 | ||||||
12,350 | Dongbu Securities Co. Ltd. | 43,903 | ||||||
9,800 | Dongbu Steel Co. Ltd.(b) | 27,007 | ||||||
754 | Dong-IL Corp. | 36,902 | ||||||
841 | Dongil Industries Co. Ltd. | 46,582 | ||||||
2,987 | Dongjin Semichem Co. Ltd. | 12,748 | ||||||
23,402 | Dongkuk Steel Mill Co. Ltd. | 244,368 | ||||||
7,740 | Dongwha Pharmaceutical Co. Ltd. | 47,439 | ||||||
531 | Dongwon F&B Co. Ltd. | 65,573 | ||||||
496 | Dongwon Industries Co. Ltd. | 170,693 | ||||||
2,003 | Dongwon Systems Corp.(b) | 16,914 | ||||||
10,510 | Dongyang Mechatronics Corp. | 110,702 | ||||||
5,324 | Doosan Corp. | 594,617 | ||||||
6,053 | Doosan Heavy Industries & Construction Co. Ltd. | 225,071 | ||||||
33,690 | Doosan Infracore Co. Ltd.(b) | 399,214 | ||||||
3,738 | DRB Holding Co. Ltd. | 27,425 | ||||||
3,262 | DRB Industrial Co. Ltd. | 22,155 | ||||||
2,470 | Duzon Bizon Co. Ltd. | 34,203 | ||||||
270 | E1 Corp. | 19,883 | ||||||
9,342 | Easy Bio, Inc. | 49,709 | ||||||
3,059 | E-Mart Co. Ltd. | 597,190 | ||||||
2,815 | Eugene Corp. | 9,100 | ||||||
8,099 | Eugene Investment & Securities Co. Ltd.(b) | 18,128 | ||||||
674 | Fila Korea Ltd. | 43,636 | ||||||
12,730 | Foosung Co. Ltd.(b) | 52,305 | ||||||
2,079 | Fursys, Inc. | 50,403 | ||||||
3,200 | Global & Yuasa Battery Co. Ltd. | 158,068 | ||||||
13,216 | GNCO Co. Ltd.(b) | 26,821 | ||||||
101,270 | Grand Korea Leisure Co. Ltd. | 3,144,860 | ||||||
1,229 | Green Cross Corp. | 168,509 | ||||||
9,290 | Green Cross Holdings Corp. | 144,247 | ||||||
23,773 | GS Engineering & Construction Corp. | 652,986 | ||||||
5,230 | GS Global Corp. | 52,713 | ||||||
33,465 | GS Holdings | 1,653,043 | ||||||
384 | Gwangju Shinsegae Co. Ltd. | 91,354 | ||||||
3,280 | Halla Engineering & Construction Corp. | 17,572 | ||||||
12,680 | Halla Visteon Climate Control Corp. | 342,532 | ||||||
15,810 | Han Kuk Carbon Co. Ltd. | 123,172 |
51 |
|
Old Westbury Funds, Inc. | |
Global Small & Mid Cap Fund | |
Portfolio of Investments - (Continued) | April 30, 2013 |
(Unaudited) |
Shares | Value | |||||||
SOUTH KOREA (continued) | ||||||||
10,549 | Hana Financial Group, Inc. | $ | 337,181 | |||||
1,900 | Hanall Biopharma Co. Ltd.(b) | 13,267 | ||||||
1,900 | Handok Pharmaceuticals Co. Ltd. | 32,434 | ||||||
9,530 | Handsome Co. Ltd. | 285,130 | ||||||
859 | Hanil Cement Co. Ltd. | 39,701 | ||||||
11,420 | Hanil E-Wha Co. Ltd. | 137,915 | ||||||
8,977 | Hanjin Heavy Industries & Construction Co. Ltd.(b) | 64,966 | ||||||
4,210 | Hanjin Heavy Industries & Construction Holdings Co. Ltd. | 25,230 | ||||||
22,695 | Hanjin Shipping Co. Ltd.(b) | 169,806 | ||||||
4,620 | Hanjin Transportation Co. Ltd. | 95,018 | ||||||
22 | Hankook Shell Oil Co. Ltd. | 7,511 | ||||||
20,641 | Hankook Tire Co. Ltd. | 897,761 | ||||||
4,718 | Hankook Tire Worldwide Co. Ltd. | 85,681 | ||||||
500 | Hankuk Paper Manufacturing Co. Ltd. | 12,621 | ||||||
2,563 | Hanmi Science Co. Ltd.(b) | 29,905 | ||||||
2,520 | Hanmi Semiconductor Co. Ltd. | 22,333 | ||||||
5,720 | Hansol Chemical Co. Ltd. | 143,870 | ||||||
17,250 | Hansol CSN | 59,599 | ||||||
9,560 | Hansol Paper Co. | 127,606 | ||||||
1,590 | Hansol Technics Co. Ltd.(b) | 38,332 | ||||||
2,020 | Hanssem Co. Ltd. | 48,606 | ||||||
33,385 | Hanwha Chemical Corp. | 495,637 | ||||||
35,410 | Hanwha Corp. | 1,003,171 | ||||||
3,780 | Hanwha General Insurance Co. Ltd.(b) | 17,676 | ||||||
13,193 | Hanwha Investment & Securities Co. Ltd. | 47,798 | ||||||
36,780 | Hanwha Life Insurance Co. Ltd. | 223,759 | ||||||
770 | Hanwha Timeworld Co. Ltd. | 22,618 | ||||||
2,720 | Hanyang Securities Co. Ltd. | 15,313 | ||||||
9,828 | Hite Jinro Co. Ltd. | 287,799 | ||||||
1,510 | Hite Jinro Holdings Co. Ltd. | 20,155 | ||||||
4,676 | HMC Investment Securities Co. Ltd. | 52,224 | ||||||
12,150 | Hotel Shilla Co. Ltd. | 642,087 | ||||||
104,698 | Huchems Fine Chemical Corp. | 2,186,556 | ||||||
3,050 | Husteel Co. Ltd. | 71,175 | ||||||
83,915 | Huvitz Co. Ltd. | 1,691,558 | ||||||
5,070 | Hwa Shin Co. Ltd. | 56,165 | ||||||
1,254 | Hy-Lok Corp. | 25,620 | ||||||
4,977 | Hyosung Corp. | 250,364 | ||||||
5,770 | Hyundai BNG Steel Co. Ltd.(b) | 62,347 | ||||||
1,530 | Hyundai Corp. | 35,982 | ||||||
5,065 | Hyundai Department Store Co. Ltd. | 735,858 | ||||||
18,510 | Hyundai Development Co. | 379,847 | ||||||
1,141 | Hyundai Elevator Co. Ltd.(b) | 84,334 | ||||||
4,090 | Hyundai Engineering Plastics Co. Ltd. | 24,511 | ||||||
29,420 | Hyundai Greenfood Co. Ltd. | 474,171 | ||||||
15,170 | Hyundai Hysco Co. Ltd. | 424,259 |
Shares | Value | |||||||
SOUTH KOREA (continued) | ||||||||
13,730 | Hyundai Marine & Fire Insurance Co. Ltd. | $ | 386,480 | |||||
3,820 | Hyundai Merchant Marine Co. Ltd.(b) | 35,553 | ||||||
387 | Hyundai Mipo Dockyard | 37,952 | ||||||
32,001 | Hyundai Securities Co. Ltd. | 222,290 | ||||||
1,121 | Hyundai Wia Corp. | 144,540 | ||||||
4,916 | Hyunjin Materials Co. Ltd. | 27,497 | ||||||
6,050 | Il Dong Pharmaceutical Co. Ltd. | 70,592 | ||||||
2,560 | Iljin Display Co. Ltd. | 50,791 | ||||||
803 | Ilshin Spinning Co. Ltd. | 72,622 | ||||||
266 | Ilsung Pharmaceuticals Co. Ltd. | 19,009 | ||||||
1,628 | Ilyang Pharmaceutical Co. Ltd.(b) | 54,695 | ||||||
37,510 | Industrial Bank of Korea | 429,153 | ||||||
764 | Interflex Co. Ltd.(b) | 32,189 | ||||||
8,362 | Interpark Corp. | 66,817 | ||||||
786 | INTOPS Co. Ltd. | 23,017 | ||||||
2,410 | Inzi Controls Co. Ltd. | 14,618 | ||||||
6,500 | INZI Display Co. Ltd. | 16,761 | ||||||
7,005 | IS Dongseo Co. Ltd.(b) | 80,144 | ||||||
3,810 | ISU Chemical Co. Ltd. | 67,461 | ||||||
10,380 | IsuPetasys Co. Ltd.(b) | 64,940 | ||||||
5,470 | Jahwa Electronics Co. Ltd. | 139,569 | ||||||
3,330 | Jeil Pharmaceutical Co. | 50,496 | ||||||
15,899 | Jeonbuk Bank | 87,341 | ||||||
2,973 | JW Pharmaceutical Corp. | 49,671 | ||||||
24,810 | Kangwon Land, Inc. | 701,745 | ||||||
10,532 | KC Tech Co. Ltd. | 50,972 | ||||||
1,290 | KCC Corp. | 383,029 | ||||||
4,850 | Keangnam Enterprises Ltd.(b) | 23,297 | ||||||
458 | KEPCO Engineering & Construction Co., Inc. | 36,430 | ||||||
5,370 | Keyang Electric Machinery Co. Ltd. | 12,239 | ||||||
1,884 | KH Vatec Co. Ltd.(b) | 39,517 | ||||||
6,150 | Kishin Corp. | 42,106 | ||||||
4,345 | KISWIRE Ltd. | 144,794 | ||||||
2,472 | KIWOOM Securities Co. Ltd. | 151,512 | ||||||
77,400 | Kolao Holdings | 2,108,417 | ||||||
1,846 | Kolon Corp. | 44,419 | ||||||
9,850 | Kolon Global Corp.(b) | 34,077 | ||||||
5,741 | Kolon Industries, Inc. | 265,859 | ||||||
2,401 | Komipharm International Co. Ltd.(b) | 18,073 | ||||||
800 | Korea Airport Service Co. Ltd. | 19,323 | ||||||
2,390 | Korea Circuit Co. Ltd.(b) | 45,899 | ||||||
3,220 | Korea Electric Terminal Co. Ltd. | 99,995 | ||||||
1,721 | Korea Gas Corp. | 110,483 | ||||||
24,360 | Korea Investment Holdings Co. Ltd. | 1,024,124 | ||||||
5,406 | Korea Kolmar Co. Ltd.(b) | 160,761 | ||||||
2,603 | Korea Kolmar Holdings Co. Ltd. | 39,708 | ||||||
1,564 | Korea Petrochemical Industrial Co. Ltd.(b) | 60,640 |
52 |
|
Old Westbury Funds, Inc. | |
Global Small & Mid Cap Fund | |
Portfolio of Investments - (Continued) | April 30, 2013 |
(Unaudited) |
Shares | Value | |||||||
SOUTH KOREA (continued) | ||||||||
1,600 | Korea United Pharm, Inc. | $ | 23,899 | |||||
7,440 | Korean Air Lines Co. Ltd.(b) | 238,475 | ||||||
17,928 | Korean Reinsurance Co. | 175,813 | ||||||
3,712 | Kortek Corp. | 43,143 | ||||||
1,843 | KPF | 16,350 | ||||||
787 | KPX Chemical Co. Ltd. | 44,234 | ||||||
23,310 | KTB Investment & Securities Co. Ltd.(b) | 79,160 | ||||||
1,913 | Kukdo Chemical Co. Ltd. | 93,105 | ||||||
630 | Kumho Electric Co. Ltd. | 17,533 | ||||||
2,220 | Kumho Petrochemical Co. Ltd. | 192,106 | ||||||
3,520 | Kumho Tire Co., Inc.(b) | 37,875 | ||||||
1,030 | Kunsul Chemical Industrial Co. Ltd. | 25,392 | ||||||
30,090 | Kwang Dong Pharmaceutical Co. Ltd. | 190,436 | ||||||
3,380 | Kyeryong Construction Industrial Co. Ltd.(b) | 27,223 | ||||||
2,862 | Kyobo Securities Co. | 13,072 | ||||||
1,380 | Kyung Dong Navien Co. Ltd. | 19,548 | ||||||
92 | Kyungbang Ltd.(b) | 9,774 | ||||||
17,150 | Kyung-In Synthetic Corp. | 69,765 | ||||||
453 | LEENO Industrial, Inc. | 16,227 | ||||||
6,160 | LG Fashion Corp. | 176,471 | ||||||
496 | LG Hausys Ltd. | 44,362 | ||||||
1,907 | LG InnoTek Co. Ltd.(b) | 154,112 | ||||||
6,784 | LG International Corp. | 218,680 | ||||||
909 | LG Life Sciences Ltd.(b) | 45,314 | ||||||
49,440 | LG Uplus Corp.(b) | 466,881 | ||||||
11,910 | LIG Insurance Co. Ltd. | 244,948 | ||||||
2,710 | Livart Furniture Co. Ltd. | 19,611 | ||||||
1,800 | Lock & Lock Co. Ltd. | 46,173 | ||||||
1,169 | Lotte Chemical Corp. | 172,489 | ||||||
497 | Lotte Chilsung Beverage Co. Ltd. | 775,759 | ||||||
536 | Lotte Confectionary Co. Ltd. | 934,459 | ||||||
406 | Lotte Food Co. Ltd. | 324,417 | ||||||
9,473 | Lotte Non-Life Insurance Co. Ltd.(b) | 28,600 | ||||||
2,578 | LS Corp. | 189,610 | ||||||
2,821 | LS Industrial Systems Co. Ltd. | 159,326 | ||||||
39,012 | Macquarie Korea Infrastructure Fund | 247,257 | ||||||
1,074 | Macrogen, Inc.(b) | 38,521 | ||||||
48 | Maeil Dairy Industry Co. Ltd. | 2,253 | ||||||
1,799 | Mando Corp. | 137,216 | ||||||
3,920 | Meritz Finance Group, Inc.(b) | 14,202 | ||||||
9,189 | Meritz Fire & Marine Insurance Co. Ltd. | 99,708 | ||||||
86,760 | Meritz Securities Co. Ltd. | 112,261 | ||||||
22 | Mi Chang Oil Industrial Co. Ltd. | 1,796 | ||||||
5,330 | Mirae Asset Securities Co. Ltd. | 222,628 | ||||||
10,335 | MK Electron Co. Ltd. | 38,664 | ||||||
19,700 | Moorim P&P Co. Ltd. | 105,002 | ||||||
7,820 | Moorim Paper Co. Ltd.(b) | 17,752 | ||||||
8,590 | Motonic Corp. | 108,808 |
Shares | Value | |||||||
SOUTH KOREA (continued) | ||||||||
3,230 | Namhae Chemical Corp. | $ | 20,912 | |||||
46 | Namyang Dairy Products Co. Ltd. | 48,661 | ||||||
2,740 | National Plastic Co. | 10,188 | ||||||
2,166 | NCSoft Corp. | 326,483 | ||||||
2,785 | Neowiz Games Corp.(b) | 44,002 | ||||||
933 | Neowiz Holdings Corp.(b) | 10,929 | ||||||
4,422 | NEPES Corp. | 73,881 | ||||||
3,138 | Nexen Corp.(d) | 236,782 | ||||||
2,970 | Nexen Tire Corp. | 38,834 | ||||||
12,850 | NH Investment & Securities Co. Ltd. | 56,707 | ||||||
6,790 | NK Co. Ltd. | 21,641 | ||||||
799 | Nong Shim Holdings Co. Ltd. | 61,595 | ||||||
2,181 | NongShim Co. Ltd. | 664,420 | ||||||
5,249 | OCI Co. Ltd. | 674,415 | ||||||
1,073 | OCI Materials Co. Ltd. | 30,983 | ||||||
804 | Orion Corp. | 850,504 | ||||||
686 | Ottogi Corp. | 295,878 | ||||||
12,196 | Poongsan Corp. | 295,127 | ||||||
2,723 | Poongsan Holdings Corp. | 57,981 | ||||||
242 | POSCO Chemtech Co. Ltd. | 26,962 | ||||||
450 | Pulmuone Holdings Co. Ltd. | 27,785 | ||||||
195,989 | Pyeong Hwa Automotive Co. Ltd.(d) | 2,918,569 | ||||||
9,961 | S&T Dynamics Co. Ltd. | 118,939 | ||||||
3,150 | S&T Holdings Co. Ltd. | 40,044 | ||||||
4,800 | S&T Motiv Co. Ltd. | 126,178 | ||||||
3,832 | S1 Corp. | 216,426 | ||||||
1,110 | Sajo Industries Co. Ltd.(b) | 45,607 | ||||||
4,370 | Sam Young Electronics Co. Ltd. | 37,736 | ||||||
3,017 | Sam Yung Trading Co. Ltd. | 50,681 | ||||||
1,351 | Sambu Construction Co. Ltd.(b) | 7,593 | ||||||
480 | Samchully Co. Ltd. | 57,532 | ||||||
23,040 | Samick Musical Instruments Co. Ltd.(b) | 31,172 | ||||||
4,310 | Samick THK Co. Ltd. | 25,477 | ||||||
5,671 | Samjin Pharmaceutical Co. Ltd. | 65,912 | ||||||
670 | Samkwang Glass Co. Ltd. | 46,723 | ||||||
590 | Samlip General Foods Co. Ltd. | 18,456 | ||||||
2,345 | Samsung Electro-Mechanics Co. Ltd. | 209,736 | ||||||
1,048 | Samsung Engineering Co. Ltd. | 84,217 | ||||||
2,470 | Samsung Fine Chemicals Co. Ltd. | 119,766 | ||||||
11,262 | Samsung SDI Co. Ltd. | 1,314,053 | ||||||
9,571 | Samsung Securities Co. Ltd. | 439,746 | ||||||
2,700 | Samsung Techwin Co. Ltd. | 167,938 | ||||||
1,040 | Samyang Foods Co. Ltd.(b) | 26,253 | ||||||
412 | Samyang Genex Co. Ltd. | 35,465 | ||||||
4,337 | Samyang Holdings Corp. | 368,604 | ||||||
10,570 | Savezone I&C Corp. | 34,552 | ||||||
382,510 | SBS Media Holdings Co. Ltd. | 2,111,741 | ||||||
6,460 | Seah Besteel Corp. | 176,854 | ||||||
485 | SeAH Holdings Corp. | 46,901 | ||||||
1,408 | SeAH Steel Corp. | 143,830 |
53 |
|
Old Westbury Funds, Inc. | |
Global Small & Mid Cap Fund | |
Portfolio of Investments - (Continued) | April 30, 2013 |
(Unaudited) |
Shares | Value | |||||||
SOUTH KOREA (continued) | ||||||||
5,840 | Sebang Co. Ltd. | $ | 94,390 | |||||
42,014 | Seegene, Inc.(b) | 2,506,420 | ||||||
5,490 | Sejong Industrial Co. Ltd. | 62,313 | ||||||
140 | Sempio Foods Co. | 3,674 | ||||||
38,594 | Seohee Construction Co. Ltd.(b) | 27,264 | ||||||
7,340 | Seowon Co. Ltd. | 18,395 | ||||||
14,720 | Shin Poong Pharmaceutical Co. Ltd. | 69,503 | ||||||
1,723 | Shinsegae Co. Ltd. | 370,008 | ||||||
26,713 | Shinsung Solar Energy Co. Ltd.(b)(c) | 22,364 | ||||||
15,480 | Shinwon Corp.(b) | 18,273 | ||||||
2,240 | Shinyoung Securities Co. Ltd. | 72,714 | ||||||
2,162 | Silicon Works Co. Ltd. | 44,661 | ||||||
920 | Silla Co. Ltd. | 28,528 | ||||||
8,123 | Simm Tech Co. Ltd. | 63,801 | ||||||
971 | Sindoh Co. Ltd. | 67,890 | ||||||
26,933 | SK Broadband Co. Ltd.(b) | 127,903 | ||||||
1,483 | SK C&C Co. Ltd. | 124,425 | ||||||
3,755 | SK Chemicals Co. Ltd. | 159,399 | ||||||
1,489 | SK Gas Co. Ltd. | 105,459 | ||||||
8,402 | SK Holdings Co. Ltd. | 1,209,223 | ||||||
91,900 | SK Networks Co. Ltd. | 609,162 | ||||||
73,800 | SK Securities Co. Ltd. | 65,604 | ||||||
8,900 | SKC Co. Ltd. | 268,301 | ||||||
4,390 | SL Corp. | 58,398 | ||||||
924 | SM Entertainment Co.(b) | 35,532 | ||||||
5,310 | Songwon Industrial Co. Ltd. | 72,565 | ||||||
31,976 | Soulbrain Co. Ltd. | 1,334,148 | ||||||
9,930 | Ssangyong Cement Industrial Co. Ltd.(b) | 60,411 | ||||||
8,848 | STX Corp. Co. Ltd. | 26,231 | ||||||
4,620 | STX Engine Co. Ltd.(b) | 19,612 | ||||||
34,580 | STX Offshore & Shipbuilding Co. Ltd.(b) | 133,604 | ||||||
5,270 | STX Pan Ocean Co. Ltd(b) | 16,174 | ||||||
2,270 | Suheung Capsule Co. Ltd. | 55,652 | ||||||
1,940 | Sung Jin Geotec Co. Ltd.(b) | 19,025 | ||||||
214 | Sunjin Co. Ltd. | 3,449 | ||||||
4,250 | Tae Kyung Industrial Co. Ltd. | 18,852 | ||||||
245 | Taekwang Industrial Co. Ltd. | 224,689 | ||||||
2,079 | Taewoong Co. Ltd.(b) | 48,893 | ||||||
23,300 | Taeyoung Engineering & Construction Co. Ltd. | 128,633 | ||||||
8,004 | Taihan Electric Wire Co. Ltd.(b) | 18,751 | ||||||
16,710 | Tailim Packaging Industrial Co. Ltd. | 50,829 | ||||||
2,386 | TCC Steel | 8,720 | ||||||
16,216 | Tera Resource Co. Ltd.(b) | 14,945 | ||||||
10,260 | TONGYANG Life Insurance | 91,952 | ||||||
200 | TONGYANG Moolsan Co. Ltd. | 1,825 | ||||||
11,428 | TONGYANG Securities, Inc. | 40,937 | ||||||
16,668 | TONGYANG, Inc.(b) | 18,162 | ||||||
1,942 | Top Engineering Co. Ltd.(b) | 10,404 | ||||||
1,420 | TS Corp. | 47,385 |
Shares | Value | |||||||
SOUTH KOREA (continued) | ||||||||
2,047 | Unid Co. Ltd. | $ | 86,802 | |||||
250 | Union Steel | 2,826 | ||||||
1,758 | Unison Co. Ltd.(b) | 8,955 | ||||||
5,350 | Whanin Pharmaceutical Co. Ltd. | 66,067 | ||||||
11,420 | Willbes & Co. (The)(b) | 15,502 | ||||||
61,970 | Woongjin Chemical Co. Ltd.(b)(c) | 50,024 | ||||||
9,550 | Woongjin Energy Co. Ltd.(b) | 17,343 | ||||||
1,000 | Woongjin Thinkbig Co. Ltd.(b) | 8,308 | ||||||
6,008 | Woori Financial Co. Ltd. | 121,655 | ||||||
35,823 | Woori Investment & Securities Co. Ltd. | 367,566 | ||||||
1,620 | Y G-1 Co. Ltd. | 17,578 | ||||||
250 | YESCO Co. Ltd. | 9,035 | ||||||
6,970 | Youlchon Chemical Co. Ltd. | 79,744 | ||||||
345 | Young Poong Corp. | 501,226 | ||||||
2,294 | Young Poong Precision Corp. | 23,121 | ||||||
4,952 | Youngone Corp. | 197,846 | ||||||
2,598 | Youngone Holdings Co. Ltd. | 185,420 | ||||||
1,184 | Yuhan Corp. | 225,770 | ||||||
74,665,648 | ||||||||
SPAIN — 0.4% | ||||||||
12,490 | Abengoa SA | 33,391 | ||||||
49,960 | Abengoa SA - B Shares | 122,049 | ||||||
11,517 | Acciona SA | 754,574 | ||||||
37,960 | Acerinox SA | 408,830 | ||||||
19,671 | ACS Actividades de Construccion y Servicios SA | 505,809 | ||||||
1,811 | Adolfo Dominguez SA(b) | 9,397 | ||||||
1,745 | Adveo Group International SA | 27,692 | ||||||
3,295 | Almirall SA | 43,567 | ||||||
7,961 | Amper SA(b) | 14,363 | ||||||
7,185 | Antena 3 de Television SA | 43,716 | ||||||
3,330 | Azkoyen SA(b) | 6,074 | ||||||
1,177,102 | Banco de Sabadell SA | 2,447,742 | ||||||
30,904 | Banco Espanol de Credito SA(b) | 142,243 | ||||||
872,400 | Banco Popular Espanol SA(b) | 679,004 | ||||||
107,435 | Bankinter SA | 395,596 | ||||||
59,686 | Bankinter SA(b)(d) | 219,776 | ||||||
1,315 | Baron de Ley(b) | 83,836 | ||||||
18,045 | Bolsas y Mercados Espanoles SA | 489,546 | ||||||
20,024 |
Caja de Ahorros del Mediter-
raneo(b)(c)(d) |
0 | ||||||
7,792 | Campofrio Food Group SA(b) | 51,103 | ||||||
5,568 | Cementos Portland Valderrivas SA(b) | 28,525 | ||||||
16,842 | Cie Automotive SA | 118,331 | ||||||
3,901 | Codere SA(b) | 10,583 | ||||||
485 | Construcciones y Auxiliar de Ferrocarriles SA | 191,616 | ||||||
102,721 | Deoleo SA(b) | 35,849 |
54 |
|
Old Westbury Funds, Inc. | |
Global Small & Mid Cap Fund | |
Portfolio of Investments - (Continued) | April 30, 2013 |
(Unaudited) |
Shares | Value | |||||||
SPAIN (continued) | ||||||||
4,433 | Dinamia Capital Privado Sociedad de Capital Riesgo SA | $ | 29,891 | |||||
52,146 | Distribuidora Internacional de Alimentacion SA | 404,488 | ||||||
11,664 | Duro Felguera SA | 83,103 | ||||||
26,493 | Ebro Foods SA | 543,237 | ||||||
158,336 | EDP Renovaveis SA(b) | 823,865 | ||||||
7,969 | Elecnor SA | 90,570 | ||||||
82,978 | Enagas SA | 2,210,692 | ||||||
68,381 | Ence Energia y Celulosa SA | 180,109 | ||||||
25,768 | Ercros SA(b) | 14,117 | ||||||
43,820 | Faes Farma SA | 119,746 | ||||||
12,842 | Fluidra SA | 41,604 | ||||||
18,668 | Fomento de Construcciones y Contratas SA | 193,507 | ||||||
116,565 | Gamesa Corp. Tecnologica SA | 456,079 | ||||||
31,966 | Grupo Catalana Occidente SA | 724,079 | ||||||
37,122 | Grupo Ezentis SA(b) | 6,600 | ||||||
2,010 | Iberpapel Gestion SA | 37,827 | ||||||
31,331 | Indra Sistemas SA | 421,279 | ||||||
893 | Inmobiliaria Colonial SA(b) | 1,007 | ||||||
5,819 | Laboratorios Farmaceuticos Rovi SA | 53,184 | ||||||
124,222 | Mapfre SA | 455,610 | ||||||
51,556 | Mediaset Espana Comunicacion SA(b) | 404,732 | ||||||
11,410 | Melia Hotels International SA | 84,524 | ||||||
2,756 | Miquel y Costas & Miquel SA | 83,479 | ||||||
43,256 | NH Hoteles SA(b) | 150,960 | ||||||
34,034 | Obrascon Huarte Lain SA | 1,258,576 | ||||||
13,562 | Papeles y Cartones de Europa SA | 45,723 | ||||||
9,252 | Pescanova SA(c)(d) | 0 | ||||||
1,765 | Prim SA | 11,924 | ||||||
126,652 | Promotora de Informaciones SA - Class A(b) | 37,529 | ||||||
1,096,094 | Prosegur Cia de Seguridad SA(d) | 6,120,446 | ||||||
27,657 | Realia Business SA(b) | 17,119 | ||||||
22,104 | Red Electrica Corp. SA | 1,175,748 | ||||||
114,410 | Sacyr Vallehermoso SA(b) | 238,062 | ||||||
26,801 | Sociedad Nacional de Industrias Apicaciones Celulosa Espanola SA(b) | 13,765 | ||||||
12,491 | Solaria Energia y Medio Ambiente SA(b) | 8,965 | ||||||
2,247 | Tecnicas Reunidas SA | 108,809 | ||||||
9,564 | Telecomunicaciones y Energia | 13,477 | ||||||
41,405 | Tubacex SA | 116,145 | ||||||
34,984 | Tubos Reunidos SA | 75,558 | ||||||
8,830 | Vidrala SA | 294,438 | ||||||
15,581 | Viscofan SA | 809,285 | ||||||
7,537 | Vocento SA(b) | 9,231 | ||||||
22,996 | Zardoya Otis SA | 321,320 |
Shares | Value | |||||||
SPAIN (continued) | ||||||||
30,974 | Zeltia SA(b) | $ | 62,615 | |||||
25,216,236 | ||||||||
SWEDEN — 0.8% | ||||||||
13,070 | AarhusKarlshamn AB | 685,661 | ||||||
24,738 | Acando AB | 63,362 | ||||||
1,487 | Active Biotech AB(b) | 13,021 | ||||||
3,083 | AddNode Group AB | 19,456 | ||||||
2,555 | AddTech AB - Class B | 87,321 | ||||||
307,610 | AF AB - B Shares(d) | 8,424,680 | ||||||
2,158 | Arise Windpower AB(b) | 8,258 | ||||||
794 | Atrium Ljungberg AB - B Shares | 11,032 | ||||||
1,644 | Avanza Bank Holding AB | 36,210 | ||||||
8,149 | Axfood AB | 358,347 | ||||||
14,516 | Axis Communications AB | 398,453 | ||||||
4,907 | B&B Tools AB - Class B | 59,813 | ||||||
15,977 | BE Group AB(b) | 40,183 | ||||||
2,816 | Beijer AB G&L - Class B | 49,533 | ||||||
6,098 | Beijer Alma AB | 124,198 | ||||||
2,038 | Beijer Electronics AB | 22,484 | ||||||
11,117 | Betsson AB | 325,051 | ||||||
17,184 | Bilia AB - A Shares | 298,285 | ||||||
72,372 | BillerudKorsnas AB | 714,669 | ||||||
4,165 | BioGaia AB - Class B | 144,273 | ||||||
24,799 | Biotage AB | 33,481 | ||||||
1,759 | Bjoern Borg AB | 9,364 | ||||||
1,759 | Bjoern Borg AB(b)(c)(d) | 814 | ||||||
293,940 | Boliden AB | 4,653,296 | ||||||
23,579 | Bure Equity AB | 82,586 | ||||||
11,928 | Byggmax Group AB | 68,649 | ||||||
18,040 | Castellum AB | 269,999 | ||||||
2,600 | Catena AB | 32,896 | ||||||
6,345 | Cision AB | 44,545 | ||||||
4,046 | Clas Ohlson AB - Class B | 54,469 | ||||||
10,828 | Concordia Maritime AB - Class B | 17,710 | ||||||
1,753 | Connecta AB | 11,306 | ||||||
19,770 | CyberCom Group AB(b) | 5,857 | ||||||
6,462 | Duni AB | 61,070 | ||||||
4,322 | East Capital Explorer AB(b) | 31,276 | ||||||
55,809 | Electrolux AB - Class B | 1,580,138 | ||||||
123,512 | Elekta AB - Class B | 1,899,070 | ||||||
2,573 | Enea AB | 18,699 | ||||||
36,561 | Eniro AB(b) | 88,003 | ||||||
15,073 | Fabege AB | 162,799 | ||||||
741 | Fagerhult AB | 19,951 | ||||||
6,050 | Fastighets AB Balder - Class B(b) | 43,687 | ||||||
96,813 | Getinge AB - Class B | 2,914,376 | ||||||
9,616 | Gunnebo AB | 40,802 | ||||||
15,931 | Hakon Invest AB(b) | 430,166 | ||||||
22,340 | Haldex AB | 141,326 | ||||||
152,374 | Hexagon AB - Class B | 4,351,830 | ||||||
11,372 | Hexpol AB | 639,571 | ||||||
8,094 | HIQ International AB | 45,334 |
55 |
|
Old Westbury Funds, Inc. | |
Global Small & Mid Cap Fund | |
Portfolio of Investments - (Continued) | April 30, 2013 |
(Unaudited) |
Shares | Value | |||||||
SWEDEN (continued) | ||||||||
8,094 | HIQ International AB - Redeemable Shares(b)(d) | $ | 2,985 | |||||
440 | HMS Networks AB | 7,434 | ||||||
7,672 | Hoganas AB - Class B | 366,373 | ||||||
22,300 | Holmen AB - Class B | 622,441 | ||||||
7,179 | Hufvudstaden AB - Class A | 93,821 | ||||||
22,054 | Husqvarna AB - Class A | 127,130 | ||||||
112,222 | Husqvarna AB - Class B | 644,133 | ||||||
11,328 | Industrial & Financial Systems - Class B | 215,861 | ||||||
5,489 | Indutrade AB | 191,406 | ||||||
31,357 | Intrum Justitia AB | 645,908 | ||||||
39,593 | JM AB | 891,920 | ||||||
18,518 | KappAhl AB(b) | 73,146 | ||||||
6,105 | Klovern AB | 27,600 | ||||||
18,031 | KNOW IT AB | 144,670 | ||||||
14,357 | Kungsleden AB | 100,571 | ||||||
2,706 | Lagercrantz AB - Class B | 35,907 | ||||||
16,891 | Lindab International AB | 132,135 | ||||||
31,173 | Loomis AB - Class B | 607,246 | ||||||
75,113 | Lundin Petroleum AB(b) | 1,798,711 | ||||||
100,014 | Meda AB - Class A | 1,194,418 | ||||||
4,303 | Medivir AB - Class B(b) | 45,480 | ||||||
7,277 | Mekonomen AB | 229,615 | ||||||
29,549 | Micronic Mydata AB(b) | 62,690 | ||||||
1,715 | MQ Holding AB | 3,810 | ||||||
900 | NCC AB - A Shares | 21,108 | ||||||
39,737 | NCC AB - B Shares | 941,148 | ||||||
2,159 | Nederman Holding AB | 52,634 | ||||||
3,937 | Net Entertainment NE AB - Class B(b) | 61,658 | ||||||
56,096 | Net Insight AB - Class B(b) | 11,598 | ||||||
49,418 | New Wave Group AB - Class B | 265,350 | ||||||
9,358 | Nibe Industrier AB - Class B | 152,765 | ||||||
61,798 | Nobia AB | 352,802 | ||||||
8,614 | Nolato AB - Class B | 146,202 | ||||||
9,195 | Nordnet AB - Class B | 25,679 | ||||||
6,243 | Northland Resources SA(b)(c) | 806 | ||||||
5,718 | Orexo AB(b) | 49,186 | ||||||
2,470 | PA Resources AB(b) | 8,957 | ||||||
55,121 | Peab AB | 308,560 | ||||||
50,315 | Pricer AB - Class B | 69,871 | ||||||
1,152 | Proact IT Group AB | 13,509 | ||||||
23,300 | Proffice AB - Class B | 79,811 | ||||||
97,544 | Ratos AB - Class B | 935,398 | ||||||
4,226 | ReadSoft AB - Class B | 17,605 | ||||||
10,197 | Rederi AB Transatlantic(b) | 6,152 | ||||||
8,898 | Rezidor Hotel Group AB(b) | 42,149 | ||||||
1,980,000 | RNB Retail and Brands AB(b) | 27,496 | ||||||
22,865 | Saab AB - Class B | 501,678 | ||||||
115 | Sagax AB - Class A | 445 | ||||||
1,150 | Sagax AB - Class B(b) | 3,726 | ||||||
48,868 | SAS AB(b) | 105,939 | ||||||
4,652 | Sectra AB - Class B | 38,043 | ||||||
35,215 | Securitas AB - Class B | 345,029 | ||||||
3,842 | Semcon AB | 34,976 |
Shares | Value | |||||||
SWEDEN (continued) | ||||||||
39,832 | Skanska AB - Class B | $ | 677,280 | |||||
6,034 | SkiStar AB | 70,525 | ||||||
19,483 | SSAB AB - Class A | 142,041 | ||||||
26,308 | SSAB AB - Class B | 167,646 | ||||||
676 | Studsvik AB(b) | 3,129 | ||||||
8,924 | Sweco AB - Class B | 107,401 | ||||||
21,190 | Swedish Orphan Biovitrum AB(b) | 135,032 | ||||||
2,770 | Systemair AB | 44,770 | ||||||
5,196 | TradeDoubler AB | 11,705 | ||||||
95,263 | Trelleborg AB - Class B | 1,412,545 | ||||||
3,694 | Vitrolife AB | 35,196 | ||||||
8,602 | Wallenstam AB - Class B | 122,107 | ||||||
6,774 | Wihlborgs Fastigheter AB | 111,837 | ||||||
45,564,265 | ||||||||
SWITZERLAND — 1.5% | ||||||||
1,011 | Acino Holding AG(b) | 104,384 | ||||||
3,861 | Actelion Ltd. | 236,070 | ||||||
564 | Advanced Digital Broadcast Holdings SA(b) | 9,099 | ||||||
8,701 | AFG Arbonia-Forster Holding AG(b) | 248,921 | ||||||
235,000 | Allied World Assurance Co. Holdings AG | 21,340,350 | ||||||
8,646 | Allreal Holding AG | 1,265,563 | ||||||
55 | Alpiq Holding AG | 6,980 | ||||||
934 | ALSO Holding AG | 45,203 | ||||||
314 | APG SGA SA | 78,686 | ||||||
70,135 | Aryzta AG | 4,352,323 | ||||||
4,837 | Ascom Holding AG | 62,686 | ||||||
323 | Autoneum Holding AG | 22,198 | ||||||
1,807 | Bachem Holding AG - Class B | 77,057 | ||||||
32,904 | Baloise Holding AG | 3,386,656 | ||||||
1,857 | Bank Coop AG | 100,260 | ||||||
277 | Banque Cantonale de Geneve | 70,606 | ||||||
2,108 | Banque Cantonale Vaudoise | 1,166,451 | ||||||
6 | Banque Privee Edmond de Rothschild SA | 126,995 | ||||||
728 | Barry Callebaut AG | 710,931 | ||||||
372 | Basilea Pharmaceutica | 20,564 | ||||||
2,881 | Basler Kantonalbank | 260,275 | ||||||
99 | Belimo Holding AG | 225,300 | ||||||
39 | Bell AG | 94,585 | ||||||
752 | Bellevue Group AG | 8,452 | ||||||
1,916 | Berner Kantonalbank AG | 534,226 | ||||||
344 | BKW AG | 11,839 | ||||||
551 | Bobst Group AG(b) | 17,778 | ||||||
1,198 | Bossard Holding AG | 176,775 | ||||||
3,886 | Bucher Industries AG | 937,020 | ||||||
1,281 | Burckhardt Compression Holding AG | 523,532 | ||||||
36 | Carlo Gavazzi Holding AG | 8,324 | ||||||
74 | Centralschweizerische Kraftwerke AG | 24,433 | ||||||
178 | Cham Paper Holding AG(b) | 36,565 |
56 |
|
Old Westbury Funds, Inc. | |
Global Small & Mid Cap Fund | |
Portfolio of Investments - (Continued) | April 30, 2013 |
(Unaudited) |
Shares | Value | |||||||
SWITZERLAND (continued) | ||||||||
1,088 | Charles Voegele Holding AG - Class A(b) | $ | 15,153 | |||||
131 | Cicor Technologies | 3,938 | ||||||
893 | Cie Financiere Tradition SA | 48,021 | ||||||
80,593 | Clariant AG | 1,178,818 | ||||||
10,753 | Coca-Cola HBC AG - CDI | 282,284 | ||||||
1,178 | Coltene Holding AG | 60,813 | ||||||
35 | Conzzeta AG | 65,686 | ||||||
3,284 | Daetwyler Holding AG | 373,680 | ||||||
3,873 | Dufry AG(b) | 516,095 | ||||||
830 | EFG International AG | 11,114 | ||||||
1,100 | Emmi AG | 340,718 | ||||||
2,683 | EMS-Chemie Holding AG | 775,496 | ||||||
4,343 | Energiedienst Holding AG | 165,817 | ||||||
18,150 | Ferrexpo Plc | 50,128 | ||||||
2,933 | Flughafen Zuerich AG | 1,426,596 | ||||||
530 | Forbo Holding AG | 342,009 | ||||||
1,617 | Galenica AG | 1,060,841 | ||||||
89,347 | GAM Holding AG | 1,575,920 | ||||||
1,495 | Gategroup Holding AG(b) | 28,942 | ||||||
8,060 | Geberit AG | 1,968,623 | ||||||
3,379 | Georg Fischer AG | 1,469,091 | ||||||
598 | Givaudan SA | 769,206 | ||||||
360 | Gurit Holding AG | 146,741 | ||||||
4,832 | Helvetia Holdings AG | 2,025,459 | ||||||
4,946 | Highlight Communications AG | 27,416 | ||||||
1,239 | Huber & Suhner AG | 60,498 | ||||||
5,293 | Implenia AG | 290,608 | ||||||
249 | Inficon Holding AG | 77,394 | ||||||
187,480 | Informa Plc | 1,392,041 | ||||||
128 | Interroll Holding AG | 53,551 | ||||||
104 | Intershop Holdings | 35,793 | ||||||
178,605 | Julius Baer Group Ltd. | 7,115,002 | ||||||
821 | Kaba Holding AG - Class B | 321,407 | ||||||
1,015 | Kardex AG | 36,024 | ||||||
1,899 | Komax Holding AG | 204,033 | ||||||
3,822 | Kudelski SA(b) | 48,094 | ||||||
734 | Kuoni Reisen Holding AG | 223,800 | ||||||
161 | LEM Holding SA | 97,660 | ||||||
1,026 | LifeWatch AG(b) | 7,680 | ||||||
15 | Lindt & Spruengli AG | 667,482 | ||||||
6,756 | Logitech International SA | 43,015 | ||||||
7,813 | Lonza Group AG | 544,087 | ||||||
1,434 | Luzerner Kantonalbank AG | 570,639 | ||||||
52 | Metall Zug AG - Class B | 126,449 | ||||||
23,083 | Meyer Burger Technology AG(b) | 141,010 | ||||||
20,313 | Micronas Semiconductor Holding AG | 143,095 | ||||||
677 | Mikron Holding AG | 4,187 | ||||||
9,148 | Mobilezone Holding AG | 88,843 | ||||||
3,918 | Mobimo Holding AG | 880,686 | ||||||
726 | Nobel Biocare Holding AG | 8,120 | ||||||
117,608 | OC Oerlikon Corp AG(b) | 1,359,740 | ||||||
587 | Orascom Development Holding AG(b) | 5,758 |
Shares | Value | |||||||
SWITZERLAND (continued) | ||||||||
417 | Orell Fuessli Holding AG | $ | 40,139 | |||||
153 | Orior AG | 8,228 | ||||||
4,669 | Panalpina Welttransport Holding AG | 454,447 | ||||||
1,305 | Partners Group Holding AG | 334,741 | ||||||
281 | Phoenix Mecano AG | 142,117 | ||||||
3,798 | PSP Swiss Property AG | 356,394 | ||||||
78 | PubliGroupe SA | 11,325 | ||||||
352 | Rieter Holding AG | 58,755 | ||||||
154 | Romande Energie Holding SA(d) | 165,627 | ||||||
144 | Schaffner Holding AG | 33,437 | ||||||
8,537 | Schmolz & Bickenbach AG(b) | 25,066 | ||||||
456 | Schweiter Technologies AG | 287,881 | ||||||
8,630 | Schweizerishe National-Versicherungs-Gesellsschaft AG | 411,637 | ||||||
588 | Siegfried Holding AG | 77,595 | ||||||
894 | Sika AG | 2,158,561 | ||||||
120 | Societa Elettrica Sopracenerina SA | 22,263 | ||||||
4,650 | Sonova Holding AG | 506,109 | ||||||
1,426 | St. Galler Kantonalbank AG | 623,817 | ||||||
308,724 | STMicroelectronics NV | 2,683,796 | ||||||
671 | Straumann Holding AG | 87,970 | ||||||
14,484 | Sulzer AG | 2,470,598 | ||||||
14,003 | Swiss Life Holding AG | 2,213,854 | ||||||
161,767 | Swisslog Holding AG | 212,256 | ||||||
2,762 | Swissquote Group Holding SA | 91,789 | ||||||
955 | Tamedia AG | 104,764 | ||||||
3,453 | Tecan Group AG | 321,235 | ||||||
5,017 | Temenos Group AG(b) | 118,707 | ||||||
4,883 | Tornos Holding AG(b) | 23,633 | ||||||
1,732 | U-Blox AG | 93,231 | ||||||
43 | Valartis Group AG(b) | 1,008 | ||||||
4,767 | Valiant Holding AG | 446,554 | ||||||
2,865 | Valora Holding AG | 563,263 | ||||||
380 | Vaudoise Assurances Holding SA - Class B | 142,939 | ||||||
47 | Vetropack Holding AG | 95,233 | ||||||
19,476 | Von Roll Holding AG(b) | 34,771 | ||||||
19,524 | Vontobel Holding AG | 629,942 | ||||||
676 | VZ Holding AG | 96,696 | ||||||
3 | Walliser Kantonalbank | 2,770 | ||||||
1,950 | Walter Meier AG | 117,340 | ||||||
915 | Ypsomed Holding AG | 54,125 | ||||||
4,167 | Zehnder Group AG | 184,194 | ||||||
1,427 | Zueblin Immobilien Holding AG(b) | 3,085 | ||||||
52 | Zug Estates Holding AG - B Shares(b) | 69,684 | ||||||
31 | Zuger Kantonalbank AG | 166,202 | ||||||
82,314,166 | ||||||||
TAIWAN — 1.2% | ||||||||
51,000 | Ability Enterprise Co. Ltd. | 46,659 | ||||||
119,000 | Accton Technology Corp. | 72,177 |
57 |
|
Old Westbury Funds, Inc. | |
Global Small & Mid Cap Fund | |
Portfolio of Investments - (Continued) | April 30, 2013 |
(Unaudited) |
Shares | Value | |||||||
TAIWAN (continued) | ||||||||
708,000 | Acer, Inc.(b) | $ | 572,167 | |||||
38,000 | Achem Technology Corp. | 18,928 | ||||||
149,497 | Action Electronics Co. Ltd.(b) | 34,548 | ||||||
43,000 | A-DATA Technology Co. Ltd. | 85,091 | ||||||
18,400 | Adlink Technology, Inc. | 19,827 | ||||||
54,060 | Advancetek Enterprise Co. Ltd. | 52,664 | ||||||
79,637 | Advantech Co. Ltd. | 380,483 | ||||||
183,027 | AGV Products Corp.(b) | 65,119 | ||||||
20,000 | ALI Corp. | 21,381 | ||||||
123,000 | Alpha Networks, Inc. | 80,022 | ||||||
134,215 | Altek Corp. | 86,408 | ||||||
120,000 | Ambassador Hotel (The) | 116,698 | ||||||
18,000 | AMPOC Far-East Co. Ltd. | 17,078 | ||||||
161,830 | AmTRAN Technology Co. Ltd. | 132,427 | ||||||
32,000 | Anpec Electronics Corp. | 20,873 | ||||||
32,000 | APCB, Inc. | 23,638 | ||||||
22,552 | Apex Biotechnology Corp. | 61,668 | ||||||
34,320 | Apex Science & Engineering | 12,327 | ||||||
70,000 | Ardentec Corp. | 47,320 | ||||||
83,427 | Arima Communications Corp. | 39,294 | ||||||
79,000 | Asia Optical Co., Inc.(b) | 74,819 | ||||||
141,000 | Asia Polymer Corp. | 106,304 | ||||||
103,100 | Asia Vital Components Co. Ltd. | 49,608 | ||||||
9,000 | ASROCK, Inc. | 32,478 | ||||||
11,000 | Aten International Co. Ltd. | 18,636 | ||||||
12,000 | AU Optronics Corp.(b) | 5,510 | ||||||
56,000 | Audix Corp. | 51,328 | ||||||
19,000 | Aurora Corp. | 34,701 | ||||||
13,000 | AV Tech Corp. | 40,966 | ||||||
47,270 | Avermedia Technologies, Inc. | 21,223 | ||||||
9,000 | Avision, Inc. | 2,534 | ||||||
4,000 | AVY Precision Technology, Inc. | 6,560 | ||||||
17,850 | Awea Mechantronic Co. Ltd. | 19,083 | ||||||
157,595 | Bank of Kaohsiung(b) | 50,463 | ||||||
13,000 | Basso Industry Corp. | 9,559 | ||||||
1,293,350 | BES Engineering Corp. | 366,811 | ||||||
48,000 | Biostar Microtech International Corp. | 17,891 | ||||||
62,000 | C Sun Manufacturing Ltd. | 43,908 | ||||||
76,659 | Cameo Communications, Inc.(b) | 25,846 | ||||||
313,781 | Capital Securities Corp. | 111,108 | ||||||
81,000 | Career Technology Manufacturing Co. Ltd. | 98,258 | ||||||
117,000 | Carnival Industrial Corp.(b) | 37,583 | ||||||
7,000 | Cathay Chemical Works | 3,487 | ||||||
226,000 | Cathay No. 1 REIT | 154,000 | ||||||
23,000 | Cathay No. 2 REIT | 13,903 | ||||||
189,000 | Cathay Real Estate Development Co. Ltd. | 113,354 | ||||||
38,000 | Central Reinsurance Co. Ltd.(b) | 17,383 | ||||||
47,000 | ChainQui Construction Development Co. Ltd. | 35,355 | ||||||
46,000 | Champion Building Materials Co. Ltd. | 15,899 |
Shares | Value | |||||||
TAIWAN (continued) | ||||||||
10,065 | Chang Wah Electromaterials, Inc. | $ | 33,798 | |||||
127,000 | Charoen Pokphand Enterprise | 66,056 | ||||||
19,000 | Chaun-Choung Technology Corp. | 40,624 | ||||||
13,000 | CHC Resources Corp. | 24,139 | ||||||
811,920 | Cheng Loong Corp. | 363,152 | ||||||
169,797 | Cheng Uei Precision Industry Co. Ltd. | 338,305 | ||||||
19,000 | Chenming Mold Industry Corp.(b) | 13,327 | ||||||
13,000 | Chia Chang Co. Ltd. | 16,981 | ||||||
380,659 | Chia Hsin Cement Corp. | 167,680 | ||||||
200,226 | Chicony Electronics Co. Ltd. | 587,543 | ||||||
120,120 | Chien Kuo Construction Co. Ltd. | 58,815 | ||||||
13,000 | Chilisin Electronics Corp. | 7,533 | ||||||
418,744 | China Airlines Ltd.(b) | 159,626 | ||||||
103,000 | China Chemical & Pharmaceutical Co. Ltd. | 76,084 | ||||||
984,000 | China Development Financial Holding Corp.(b) | 272,074 | ||||||
14,000 | China Ecotek Corp. | 39,374 | ||||||
48,000 | China Electric Manufacturing Corp. | 27,568 | ||||||
253,000 | China General Plastics Corp.(b) | 128,163 | ||||||
22,000 | China Glaze Co. Ltd. | 10,213 | ||||||
716,391 | China Life Insurance Co. Ltd.(b) | 727,023 | ||||||
1,005,505 | China Manmade Fibers Corp.(b) | 400,335 | ||||||
58,802 | China Metal Products | 77,906 | ||||||
521,391 | China Motor Corp. | 507,929 | ||||||
880,881 | China Petrochemical Development Corp. | 476,079 | ||||||
489,114 | China Steel Chemical Corp. | 2,378,282 | ||||||
77,000 | China Steel Structure Co. Ltd. | 94,450 | ||||||
194,616 | China Synthetic Rubber Corp. | 209,704 | ||||||
96,000 | China Wire & Cable Co. Ltd.(b) | 36,107 | ||||||
28,000 | Chinese Maritime Transport Ltd. | 33,681 | ||||||
96,883 | Chin-Poon Industrial Co. | 126,225 | ||||||
36,000 | Chipbond Technology Corp. | 91,488 | ||||||
17,574 | Chong Hong Construction Co. | 60,740 | ||||||
35,876 | Chroma ATE, Inc. | 76,950 | ||||||
92,000 | Chun Yu Works & Co. Ltd.(b) | 33,356 | ||||||
338,779 | Chun Yuan Steel | 128,569 | ||||||
79,000 | Chung Hsin Electric & Machinery Manufacturing Corp. | 45,239 | ||||||
156,339 | Chung Hung Steel Corp.(b) | 43,545 | ||||||
198,240 | Chung Hwa Pulp Corp.(b) | 63,209 | ||||||
228,000 | Chunghwa Picture Tubes Ltd.(b) | 14,833 | ||||||
153,348 | Clevo Co. | 294,101 | ||||||
749,000 | CMC Magnetics Corp.(b) | 134,511 | ||||||
127,182 | Collins Co. Ltd. | 48,913 |
58 |
|
Old Westbury Funds, Inc. | |
Global Small & Mid Cap Fund | |
Portfolio of Investments - (Continued) | April 30, 2013 |
(Unaudited) |
Shares | Value | |||||||
TAIWAN (continued) | ||||||||
87,150 | Compal Communications, Inc.(b) | $ | 112,658 | |||||
810,000 | Compeq Manufacturing Co. | 301,911 | ||||||
163,689 | Continental Holdings Corp. | 62,398 | ||||||
179,000 | Coretronic Corp. | 142,232 | ||||||
39,560 | Cosmos Bank Taiwan(b) | 20,643 | ||||||
30,000 | Coxon Precise Industrial Co. Ltd. | 58,451 | ||||||
298,700 | CSBC Corp. Taiwan | 196,353 | ||||||
203,838 | CTCI Corp. | 407,510 | ||||||
11,000 | Cyberlink Corp. | 36,118 | ||||||
15,460 | CyberTAN Technology, Inc. | 11,525 | ||||||
76,000 | DA CIN Construction Co. Ltd. | 65,539 | ||||||
76,000 | Darfon Electronics Corp. | 69,145 | ||||||
66,201 | Delpha Construction Co. Ltd. | 22,051 | ||||||
2,000 | Depo Auto Parts Industrial Co. Ltd. | 5,354 | ||||||
17,000 | DFI, Inc. | 16,071 | ||||||
186,712 | D-Link Corp. | 109,135 | ||||||
42,183 | Dynamic Electronics Co. Ltd. | 16,009 | ||||||
81,000 | E Ink Holdings, Inc. | 60,108 | ||||||
3,069,162 | E.Sun Financial Holding Co. Ltd. | 1,851,148 | ||||||
198,000 | Eastern Media International Corp.(b) | 25,361 | ||||||
85,956 | Eclat Textile Co. Ltd. | 518,439 | ||||||
94,000 | Edimax Technology Co. Ltd.(b) | 41,407 | ||||||
11,000 | Edom Technology Co. Ltd. | 4,175 | ||||||
34,320 | Elan Microelectronics Corp. | 91,289 | ||||||
14,000 | E-LIFE MALL Corp. | 34,677 | ||||||
21,000 | Elite Advanced Laser Corp. | 51,376 | ||||||
27,967 | Elite Material Co. Ltd. | 28,619 | ||||||
38,000 | Elite Semiconductor Memory Technology, Inc. | 51,440 | ||||||
205,789 | Elitegroup Computer Systems Co. Ltd. | 84,025 | ||||||
39,000 | ENG Electric Co. Ltd. | 38,588 | ||||||
160,000 | Entie Commercial Bank | 90,811 | ||||||
36,000 | Episil Technologies, Inc. | 10,942 | ||||||
125,000 | Epistar Corp. | 220,249 | ||||||
210,492 | Eternal Chemical Co. Ltd. | 181,520 | ||||||
111,000 | E-Ton Solar Tech Co. Ltd.(b) | 44,194 | ||||||
28,000 | Etron Technology, Inc.(b) | 12,619 | ||||||
676,609 | Eva Airways Corp.(b) | 377,142 | ||||||
40,000 | Everest Textile Co. Ltd.(b) | 9,515 | ||||||
148,000 | Evergreen International Storage & Transport Corp. | 96,537 | ||||||
428,197 | Evergreen Marine Corp. Taiwan Ltd.(b) | 250,285 | ||||||
194,145 | Everlight Chemical Industrial Corp. | 137,162 | ||||||
51,643 | Everlight Electronics Co. Ltd. | 83,120 | ||||||
1,000 | Everspring Industry Co.(b) | 646 | ||||||
59,373 | Excelsior Medical Co. Ltd. | 109,645 | ||||||
389,190 | Far Eastern Department Stores Co. Ltd. | 344,194 | ||||||
1,015,365 | Far Eastern International Bank | 414,582 |
Shares | Value | |||||||
TAIWAN (continued) | ||||||||
34,797 | Faraday Technology Corp. | $ | 38,674 | |||||
43,000 | Farglory F T Z Investment Holding Co. Ltd.(b) | 31,545 | ||||||
68,000 | Farglory Land Development Co. Ltd. | 129,493 | ||||||
289,971 | Federal Corp. | 194,545 | ||||||
182,320 | Feng Hsin Iron & Steel Co. | 327,425 | ||||||
36,208 | Feng TAY Enterprise Co. Ltd. | 59,688 | ||||||
91,000 | First Copper Technology Co. Ltd.(b) | 27,844 | ||||||
51,914 | First Hotel | 33,774 | ||||||
119,000 | First Insurance Co. Ltd. | 80,645 | ||||||
81,256 | First Steamship Co. Ltd. | 60,435 | ||||||
54,915 | FLEXium Interconnect, Inc. | 181,611 | ||||||
7,621 | Flytech Technology Co. Ltd. | 20,065 | ||||||
106,761 | Forhouse Corp. | 52,093 | ||||||
13,000 | Formosa Advanced Technologies Co. Ltd. | 9,735 | ||||||
117,000 | Formosa Epitaxy, Inc.(b) | 83,254 | ||||||
10,751 | Formosa International Hotels Corp. | 117,302 | ||||||
48,203 | Formosa Oilseed Processing | 21,478 | ||||||
729,000 | Formosa Taffeta Co. Ltd. | 692,886 | ||||||
347,000 | Formosan Rubber Group, Inc. | 279,251 | ||||||
187,628 | Formosan Union Chemical. | 96,637 | ||||||
33,000 | Fortune Electric Co. Ltd. | 14,592 | ||||||
66,179 | Founding Construction & Development Co. Ltd. | 47,988 | ||||||
86,000 | Froch Enterprise Co. Ltd.(b) | 26,431 | ||||||
100,022 | FSP Technology, Inc. | 95,067 | ||||||
1,710 | FU I Industrial | 3,019 | ||||||
35,000 | Fubon No. 1 REIT | 22,272 | ||||||
89,000 | Fubon No. 2 REIT | 45,145 | ||||||
57,800 | Fullerton Technology Co. Ltd. | 53,272 | ||||||
59,422 | Fulltech Fiber Glass Corp. | 24,363 | ||||||
113,284 | Fwusow Industry Co. Ltd. | 57,579 | ||||||
47,000 | G Shank Enterprise Co. Ltd. | 26,755 | ||||||
49,101 | Gemtek Technology Corp. | 64,388 | ||||||
78,051 | Genesis Photonics, Inc.(b) | 53,952 | ||||||
11,982 | Genius Electronic Optical Co. Ltd. | 72,066 | ||||||
5,662 | GeoVision, Inc. | 26,092 | ||||||
341,000 | Getac Technology Corp. | 163,498 | ||||||
512,143 | Giant Manufacturing Co. Ltd. | 3,071,609 | ||||||
5,000 | Giantplus Technology Co. Ltd.(b) | 1,598 | ||||||
154,781 | Gigabyte Technology Co. Ltd. | 147,376 | ||||||
56,274 | Gigastorage Corp. | 42,713 | ||||||
176,000 | Ginko International Co. Ltd. | 3,262,131 | ||||||
91,297 | Gintech Energy Corp.(b) | 89,249 | ||||||
71,133 | Global Brands Manufacture Ltd. | 24,344 | ||||||
102,000 | Globe Union Industrial Corp. | 49,597 | ||||||
25,000 | Gloria Material Technology Corp. | 19,357 | ||||||
293,770 | Gold Circuit Electronics Ltd.(b) | 59,825 | ||||||
343,852 | Goldsun Development & Construction Co. Ltd. | 136,902 |
59 |
|
Old Westbury Funds, Inc. | |
Global Small & Mid Cap Fund | |
Portfolio of Investments - (Continued) | April 30, 2013 |
(Unaudited) |
Shares | Value | |||||||
TAIWAN (continued) | ||||||||
18,900 | Good Will Instrument Co. Ltd. | $ | 11,303 | |||||
886,000 | Grand Pacific Petrochemical | 451,826 | ||||||
19,000 | Grape King Industrial Co. | 68,243 | ||||||
59,000 | Great China Metal Industry | 69,672 | ||||||
66,000 | Great Taipei Gas Co. Ltd. | 48,865 | ||||||
163,036 | Great Wall Enterprise Co. Ltd. | 136,729 | ||||||
67,353 | Green Energy Technology, Inc.(b) | 56,599 | ||||||
27,000 | GTM Corp.(b) | 14,455 | ||||||
71,214 | Hannstar Board Corp. | 32,335 | ||||||
554,000 | HannStar Display Corp.(b) | 151,115 | ||||||
119,115 | HannsTouch Solution, Inc.(b) | 38,465 | ||||||
38,641 | Harvatek Corp. | 15,581 | ||||||
168,000 | Hey Song Corp. | 222,296 | ||||||
145,188 | Highwealth Construction Corp. | 324,203 | ||||||
69,620 | Hitron Technology, Inc. | 37,863 | ||||||
90,300 | Hiwin Technologies Corp. | 636,433 | ||||||
285,448 | Ho Tung Chemical Corp.(b) | 139,764 | ||||||
139,000 | Hocheng Corp. | 41,165 | ||||||
28,800 | Holiday Entertainment Co. Ltd. | 42,207 | ||||||
86,135 | Holy Stone Enterprise Co. Ltd. | 80,992 | ||||||
62,000 | Hong Tai Electric Industrial | 20,021 | ||||||
111,000 | Horizon Securities Co. Ltd.(b) | 35,506 | ||||||
12,000 | Howarm Construction Co. Ltd. | 8,315 | ||||||
166,678 | Hsin Kuang Steel Co. Ltd. | 104,202 | ||||||
63,326 | Hsing TA Cement Co. | 22,316 | ||||||
316,000 | HUA ENG Wire & Cable Co. Ltd.(b) | 121,530 | ||||||
13,479 | Huaku Development Co. Ltd. | 38,731 | ||||||
39,000 | Huang Hsiang Construction Co. | 103,737 | ||||||
138,514 | Hung Poo Real Estate Development Corp. | 154,650 | ||||||
102,000 | Hung Sheng Construction Co. Ltd. | 84,332 | ||||||
47,000 | Huxen Corp. | 56,536 | ||||||
78,000 | Hwa Fong Rubber Co. Ltd.(b) | 24,236 | ||||||
118,341 | Ichia Technologies, Inc.(b) | 63,758 | ||||||
51,000 | I-Chiun Precision Industry Co. Ltd.(b) | 34,821 | ||||||
123,500 | ICP Electronics, Inc. | 159,439 | ||||||
17,000 | Infortrend Technology, Inc. | 8,871 | ||||||
171,000 | Innolux Corp.(b) | 106,904 | ||||||
523,000 | Inotera Memories, Inc.(b) | 205,571 | ||||||
608,155 | Inventec Corp. | 243,163 | ||||||
24,000 | I-Sheng Electric Wire & Cable Co. Ltd. | 36,595 | ||||||
24,000 | ITE Technology, Inc.(b) | 21,144 | ||||||
27,000 | Jess-Link Products Co. Ltd.(b) | 22,689 | ||||||
84,000 | Jih Sun Financial Holdings Co. Ltd. | 25,133 | ||||||
3,090 | Johnson Health Tech Co. Ltd. | 8,272 | ||||||
44,000 | Kang Na Hsiung Enterprise Co. Ltd. | 22,960 | ||||||
35,000 | Kaulin Manufacturing Co. Ltd. | 26,210 | ||||||
134,823 | KEE TAI Properties Co. Ltd. | 95,023 | ||||||
177,949 | Kenda Rubber Industrial Co. Ltd. | 354,547 |
Shares | Value | |||||||
TAIWAN (continued) | ||||||||
24,000 | Kenmec Mechanical Engineering Co. Ltd. | $ | 9,108 | |||||
87,000 | Kerry TJ Logistics Co. Ltd. | 116,444 | ||||||
217,000 | Kindom Construction Co. | 233,456 | ||||||
204,000 | King Slide Works Co. Ltd. | 1,624,424 | ||||||
353,184 | King Yuan Electronics Co. Ltd. | 251,317 | ||||||
555,185 | King’s Town Bank(b) | 507,929 | ||||||
49,532 | King’s Town Construction Co. Ltd. | 51,442 | ||||||
47,000 | Kinik Co. | 86,477 | ||||||
37,000 | Kinko Optical Co. Ltd. | 43,254 | ||||||
323,343 | Kinpo Electronics, Inc. | 76,804 | ||||||
102,000 | Kinsus Interconnect Technology Corp. | 355,991 | ||||||
16,328 | KS Terminals, Inc. | 11,453 | ||||||
16,000 | Kung Long Batteries Industrial Co. Ltd. | 35,348 | ||||||
40,000 | Kung Sing Engineering Corp. | 16,807 | ||||||
183,000 | Kuoyang Construction Co. Ltd. | 126,188 | ||||||
238,800 | Kwong Fong Industries(b) | 144,031 | ||||||
78,000 | KYE Systems Corp.(b) | 24,553 | ||||||
62,000 | L&K Engineering Co. Ltd. | 59,454 | ||||||
125,280 | LAN FA Textile | 34,173 | ||||||
3,000 | Largan Precision Co. Ltd. | 81,933 | ||||||
66,478 | LCY Chemical Corp. | 78,728 | ||||||
4,828 | Leader Electronics, Inc. | 3,215 | ||||||
282,410 | Lealea Enterprise Co. Ltd. | 99,043 | ||||||
21,826 | Ledtech Electronics Corp. | 10,946 | ||||||
63,000 | LEE CHI Enterprises Co. Ltd. | 32,234 | ||||||
98,638 | Leofoo Development Co. Ltd.(b) | 46,458 | ||||||
66,991 | LES Enphants Co. Ltd. | 47,896 | ||||||
8,500 | Lextar Electronics Corp.(b) | 9,389 | ||||||
316,695 | Li Peng Enterprise Co. Ltd.(b) | 119,651 | ||||||
26,522 | Lian Hwa Food Corp. | 36,307 | ||||||
446,362 | Lien Hwa Industrial Corp. | 307,789 | ||||||
235,000 | Lingsen Precision Industries Ltd. | 132,184 | ||||||
104,000 | Lite-On Semiconductor Corp. | 60,084 | ||||||
97,178 | Lite-On Technology Corp. | 174,849 | ||||||
179,000 | Long Bon International Co. Ltd.(b) | 151,937 | ||||||
249,547 | Long Chen Paper Co. Ltd.(b) | 78,047 | ||||||
12,000 | Longwell Co. | 10,226 | ||||||
2,451 | Lotes Co. Ltd. | 6,594 | ||||||
69,000 | Lucky Cement Corp.(b) | 16,249 | ||||||
30,939 | Lumax International Corp. Ltd. | 73,594 | ||||||
6,000 | Lung Yen Life Service Corp. | 21,042 | ||||||
998,936 | Macronix International | 272,142 | ||||||
27,000 | Makalot Industrial Co. Ltd. | 114,360 | ||||||
67,000 | Marketech International Corp. | 51,194 | ||||||
411,000 | Masterlink Securities Corp. | 128,263 | ||||||
64,152 | Mayer Steel Pipe Corp.(b) | 25,976 | ||||||
9,000 | Maywufa Co. Ltd. | 4,727 | ||||||
75,440 | Meiloon Industrial Co. Ltd. | 30,931 | ||||||
135,360 | Mercuries & Associates Ltd. | 106,409 |
60 |
|
Old Westbury Funds, Inc. | |
Global Small & Mid Cap Fund | |
Portfolio of Investments - (Continued) | April 30, 2013 |
(Unaudited) |
Shares | Value | |||||||
TAIWAN (continued) | ||||||||
50,600 | Merida Industry Co. Ltd. | $ | 308,620 | |||||
24,341 | Merry Electronics Co. Ltd. | 42,476 | ||||||
35,000 | Microbio Co. Ltd. | 40,085 | ||||||
55,219 | Microelectronics Technology, Inc.(b) | 30,966 | ||||||
202,404 | Micro-Star International Co. Ltd. | 94,645 | ||||||
64,000 | MIN AIK Technology Co. Ltd. | 181,079 | ||||||
54,590 | Mirle Automation Corp. | 37,828 | ||||||
293,000 | Mitac International Corp. | 103,749 | ||||||
125,822 | Mosel Vitelic, Inc.(b) | 29,673 | ||||||
111,000 | Motech Industries Inc.(b) | 116,032 | ||||||
16,000 | MPI Corp. | 36,921 | ||||||
4,000 | Nak Sealing Technologies Corp. | 7,400 | ||||||
8,000 | Namchow Chemical Industrial Ltd. | 8,444 | ||||||
174,590 | Nan Kang Rubber Tire Co. Ltd. | 206,169 | ||||||
52,383 | Nan Ya Printed Circuit Board Corp. | 59,994 | ||||||
99,902 | Nantex Industry Co. Ltd. | 67,703 | ||||||
127,872 | Nanya Technology Corp.(b) | 28,164 | ||||||
32,000 | National Petroleum Co. Ltd. | 31,174 | ||||||
123,000 | Neo Solar Power Corp.(b) | 85,023 | ||||||
7,326 | New Asia Construction & Development Corp. | 2,234 | ||||||
10,000 | New Era Electronics Co. Ltd. | 9,318 | ||||||
25,848 | Nichidenbo Corp. | 22,728 | ||||||
72,838 | Nien Hsing Textile Co. Ltd. | 57,259 | ||||||
30,000 | Novatek Microelectronics Corp. | 146,381 | ||||||
34,000 | Ocean Plastics Co. Ltd.(b) | 36,002 | ||||||
84,000 | OptoTech Corp. | 34,156 | ||||||
71,000 | Orient Semiconductor Electronics Ltd.(b) | 12,486 | ||||||
214,500 | Oriental Union Chemical Corp. | 236,581 | ||||||
600,000 | Pacific Hospital Supply Co. Ltd.(d) | 1,992,410 | ||||||
99,453 | Pan Jit International, Inc.(b) | 36,564 | ||||||
53,086 | Pan-International Industrial(b) | 41,912 | ||||||
4,200 | Paragon Technologies Co. Ltd. | 5,878 | ||||||
98,746 | Phihong Technology Co. Ltd. | 76,455 | ||||||
6,000 | Phison Electronics Corp. | 47,269 | ||||||
18,890 | Phytohealth Corp.(b) | 29,220 | ||||||
14,000 | Pihsiang Machinery Manufacturing Co. Ltd.(b) | 15,607 | ||||||
7,000 | Pixart Imaging, Inc. | 15,275 | ||||||
21,000 | Portwell, Inc. | 21,810 | ||||||
213,715 | Pou Chen Corp. | 252,009 | ||||||
45,000 | Power Quotient International Co. Ltd.(b) | 38,882 | ||||||
13,000 | Powertech Industrial Co. Ltd.(b) | 8,039 | ||||||
192,200 | Powertech Technology, Inc. | 343,866 | ||||||
603,807 | President Securities Corp.(b) | 363,160 | ||||||
13,000 | Prime Electronics Satellitics, Inc. | 11,607 |
Shares | Value | |||||||
TAIWAN (continued) | ||||||||
336,110 | Prince Housing & Development Corp. | $ | 240,306 | |||||
121,000 | Prodisc Technology, Inc.(b)(c)(d) | 0 | ||||||
26,000 | Promate Electronic Co. Ltd. | 23,875 | ||||||
34,000 | Promise Technology, Inc.(b) | 20,853 | ||||||
428,520 | Qisda Corp.(b) | 104,691 | ||||||
7,000 | Quanta Storage, Inc. | 4,708 | ||||||
151,084 | Quintain Steel Co. Ltd. | 36,348 | ||||||
147,581 | Radiant Opto-Electronics Corp. | 600,085 | ||||||
381,744 | Radium Life Tech Co. Ltd. | 318,206 | ||||||
40,421 | Realtek Semiconductor Corp. | 116,420 | ||||||
85,562 | Rechi Precision Co. Ltd. | 85,382 | ||||||
29,348 | Rexon Industrial Corp. Ltd.(b) | 8,144 | ||||||
117,000 | Rich Development Co. Ltd. | 62,441 | ||||||
11,370 | Richtek Technology Corp. | 62,606 | ||||||
844,398 | Ritek Corp.(b) | 112,445 | ||||||
209,403 | Ruentex Development Co. Ltd. | 410,121 | ||||||
129,472 | Ruentex Industries Ltd. | 309,729 | ||||||
150,335 | Sampo Corp. | 51,450 | ||||||
31,626 | San Fang Chemical Industry Co. Ltd. | 28,773 | ||||||
702,080 | Sanyang Industrial Co. Ltd.(b) | 692,279 | ||||||
21,000 | Sanyo Electric Taiwan Co. Ltd. | 25,332 | ||||||
17,000 | ScinoPharm Taiwan Ltd. | 39,516 | ||||||
7,000 | Senao International Co. Ltd. | 21,917 | ||||||
37,000 | Sercomm Corp. | 51,277 | ||||||
20,000 | Sesoda Corp. | 21,449 | ||||||
33,000 | Sheng Yu Steel Co. Ltd. | 19,401 | ||||||
16,360 | ShenMao Technology, Inc. | 17,296 | ||||||
20,000 | Shih Wei Navigation Co. Ltd. | 14,672 | ||||||
108,000 | Shihlin Electric & Engineering Corp. | 130,096 | ||||||
32,000 | Shihlin Paper Corp.(b) | 47,601 | ||||||
5,172,000 | Shin Kong Financial Holding Co. Ltd.(b) | 1,633,337 | ||||||
85,000 | Shin Kong No.1 REIT | 44,729 | ||||||
9,000 | Shin Zu Shing Co. Ltd. | 23,025 | ||||||
69,078 | Shining Building Business Co. Ltd.(b) | 52,197 | ||||||
119,000 | Shinkong Insurance Co. Ltd. | 91,734 | ||||||
593,314 | Shinkong Synthetic Fibers Corp. | 186,165 | ||||||
79,000 | Shinkong Textile Co. Ltd. | 102,257 | ||||||
76,000 | Shuttle, Inc.(b) | 32,319 | ||||||
95,000 | Sigurd Microelectronics Corp. | 99,146 | ||||||
182,000 | Silicon Integrated Systems Corp.(b) | 60,313 | ||||||
121 | Silitech Technology Corp. | 223 | ||||||
20,000 | Simplo Technology Co. Ltd. | 85,050 | ||||||
85,000 | Sinbon Electronics Co. Ltd. | 81,077 | ||||||
75,170 | Sincere Navigation Corp. | 70,173 | ||||||
23,000 | Singatron Enterprise Co. Ltd. | 15,236 | ||||||
126,000 | Sino-American Silicon Products, Inc. | 173,980 | ||||||
107,000 | Sinon Corp. | 52,934 |
61 |
|
Old Westbury Funds, Inc. | |
Global Small & Mid Cap Fund | |
Portfolio of Investments - (Continued) | April 30, 2013 |
(Unaudited) |
Shares | Value | |||||||
TAIWAN (continued) | ||||||||
13,486 | Sinphar Pharmaceutical Co. Ltd. | $ | 16,953 | |||||
46,443 | Sinyi Realty Co. | 82,619 | ||||||
14,000 | Sirtec International Co. Ltd. | 21,276 | ||||||
20,000 | Sitronix Technology Corp. | 28,395 | ||||||
23,000 | Soft-World International Corp. | 37,759 | ||||||
35,000 | Solar Applied Materials Technology Co. | 39,196 | ||||||
50,000 | Solomon Technology Corp.(b) | 20,670 | ||||||
38,000 | Solytech Enterprise Corp.(b) | 12,413 | ||||||
15,000 | Sonix Technology Co. Ltd. | 21,373 | ||||||
132,000 | Southeast Cement Co. Ltd. | 64,408 | ||||||
2,000 | St Shine Optical Co. Ltd. | 42,017 | ||||||
8,560 | Standard Chemical & Pharmaceutical Co. | 8,121 | ||||||
76,646 | Standard Foods Corp. | 262,308 | ||||||
33,000 | Stark Technology, Inc. | 28,401 | ||||||
22,000 | Sunonwealth Electric Machine Industry Co. Ltd. | 13,977 | ||||||
101,399 | Sunplus Technology Co. Ltd.(b) | 32,572 | ||||||
43,000 | Sunrex Technology Corp. | 17,266 | ||||||
24,000 | Sunspring Metal Corp. | 37,978 | ||||||
48,000 | Supreme Electronics Co. Ltd. | 25,454 | ||||||
83,980 | Sweeten Construction Co. Ltd. | 61,181 | ||||||
52,000 | Synnex Technology International Corp. | 87,924 | ||||||
132,111 | TA Chen Stainless Pipe Co. Ltd. | 65,357 | ||||||
393,666 | TA Chong Bank Ltd.(b) | 137,394 | ||||||
409,340 | Ta Ya Electric Wire & Cable | 98,063 | ||||||
70,000 | Tah Hsin Industrial Co. Ltd. | 70,565 | ||||||
41,217 | TA-I Technology Co. Ltd. | 22,416 | ||||||
374,789 | Taichung Commercial Bank | 135,885 | ||||||
11,000 | Taiflex Scientific Co. Ltd. | 13,623 | ||||||
78,000 | Tainan Enterprises Co. Ltd. | 97,394 | ||||||
909,037 | Tainan Spinning Co. Ltd. | 446,633 | ||||||
1,883,670 | Taishin Financial Holding Co. Ltd. | 816,989 | ||||||
71,716 | Taisun Enterprise Co. Ltd. | 35,479 | ||||||
168,924 | Taita Chemical Co. Ltd. | 53,232 | ||||||
12,000 | Taiwan Acceptance Corp. | 31,106 | ||||||
2,502,107 | Taiwan Business Bank(b) | 768,979 | ||||||
137,088 | Taiwan Cogeneration Corp. | 91,742 | ||||||
127,000 | Taiwan Fertilizer Co. Ltd. | 303,815 | ||||||
103,320 | Taiwan Fire & Marine Insurance Co. | 77,721 | ||||||
65,000 | Taiwan FU Hsing Industrial Co. Ltd. | 63,652 | ||||||
324,223 | Taiwan Glass Industrial Corp. | 329,584 | ||||||
71,468 | Taiwan Hon Chuan Enterprise Co. Ltd. | 198,576 | ||||||
217,734 | Taiwan Land Development Corp.(b) | 86,689 | ||||||
35,958 | Taiwan Life Insurance Co. Ltd.(b) | 27,171 | ||||||
92,150 | Taiwan Mask Corp. | 32,161 | ||||||
82,544 | Taiwan Navigation Co. Ltd. | 63,631 | ||||||
190,032 | Taiwan Paiho Ltd. | 133,934 |
Shares | Value | |||||||
TAIWAN (continued) | ||||||||
95,120 | Taiwan Pulp & Paper Corp. | $ | 29,330 | |||||
18,360 | Taiwan Sakura Corp. | 10,296 | ||||||
86,117 | Taiwan Secom Co. Ltd. | 208,931 | ||||||
7,000 | Taiwan Semiconductor Co. Ltd. | 3,676 | ||||||
101,000 | Taiwan Sogo Shin Kong Security Co. Ltd. | 127,824 | ||||||
81,429 | Taiwan Styrene Monomer(b) | 27,592 | ||||||
45,000 | Taiwan Surface Mounting Technology Co. Ltd. | 75,173 | ||||||
136,469 | Taiwan TEA Corp. | 83,235 | ||||||
95,000 | Taiyen Biotech Co. Ltd. | 92,547 | ||||||
614,914 | Tatung Co. Ltd.(b) | 155,229 | ||||||
1,553,000 | Teco Electric and Machinery Co. Ltd. | 1,460,279 | ||||||
10,000 | Tecom Co. Ltd.(b) | 678 | ||||||
10,000 | Tekcore Co. Ltd.(b) | 3,931 | ||||||
13,000 | Ten Ren Tea Co. Ltd. | 21,320 | ||||||
29,000 | ThaiLin Semiconductor Corp.(b) | 13,069 | ||||||
17,000 | Thinking Electronic Industrial Co. Ltd. | 17,915 | ||||||
59,049 | Thye Ming Industrial Co, Ltd. | 63,327 | ||||||
513,100 | Ton Yi Industrial Corp. | 379,887 | ||||||
66,180 | Tong Yang Industry Co. Ltd. | 69,180 | ||||||
78,132 | Tong-Tai Machine & Tool Co. Ltd. | 63,407 | ||||||
71,939 | Topco Scientific Co. Ltd. | 136,507 | ||||||
30,518 | Topoint Technology Co. Ltd. | 18,614 | ||||||
24,137 | Transcend Information, Inc. | 83,423 | ||||||
36,122 | Tripod Technology Corp. | 82,006 | ||||||
36,988 | Tsann Kuen Enterprise Co. Ltd. | 63,794 | ||||||
167,802 | TSRC Corp. | 331,487 | ||||||
22,000 | TTET Union Corp. | 39,882 | ||||||
13,000 | TTY Biopharm Co. Ltd. | 43,081 | ||||||
560,315 | Tung Ho Steel Enterprise Corp. | 546,797 | ||||||
27,815 | TXC Corp. | 43,355 | ||||||
48,271 | TYC Brother Industrial Co. Ltd. | 18,810 | ||||||
251,303 | Tycoons Group Enterprise(b) | 47,686 | ||||||
104,253 | Tyntek Corp.(b) | 25,470 | ||||||
26,414 | TZE Shin International Co. Ltd. | 13,336 | ||||||
26,000 | U-Ming Marine Transport Corp. | 40,526 | ||||||
290,288 | Unimicron Technology Corp. | 305,908 | ||||||
288,153 | Union Bank of Taiwan(b) | 109,844 | ||||||
30,769 | Union Insurance Co. Ltd.(b) | 15,013 | ||||||
179,037 | Unitech Printed Circuit Board Corp. | 58,361 | ||||||
134,000 | United Integrated Services Co. Ltd. | 134,627 | ||||||
19,196 | Unity Opto Technology Co. Ltd.(b) | 18,050 | ||||||
283,000 | Universal Cement Corp. | 174,046 | ||||||
137,416 | Unizyx Holding Corp. | 65,653 | ||||||
166,595 | UPC Technology Corp. | 87,215 | ||||||
274,337 | USI Corp. | 192,423 | ||||||
9,000 | U-Tech Media Corp.(b) | 1,888 | ||||||
73,000 | Vanguard International Semiconductor Corp. | 79,525 |
62 |
|
Old Westbury Funds, Inc. | |
Global Small & Mid Cap Fund | |
Portfolio of Investments - (Continued) | April 30, 2013 |
(Unaudited) |
Shares | Value | |||||||
TAIWAN (continued) | ||||||||
56,800 | Ve Wong Corp. | $ | 39,070 | |||||
27,674 | Via Technologies, Inc.(b) | 18,989 | ||||||
16,000 | Visual Photonics Epitaxy Co. Ltd. | 19,355 | ||||||
83,000 | Wafer Works Corp. | 47,249 | ||||||
117,000 | Wah Lee Industrial Corp. | 176,420 | ||||||
1,020,000 | Walsin Lihwa Corp.(b) | 316,244 | ||||||
235,947 | Walsin Technology Corp.(b) | 60,442 | ||||||
72,000 | Walton Advanced Engineering, Inc.(b) | 26,105 | ||||||
195,300 | Wan Hai Lines Ltd.(b) | 109,191 | ||||||
897,866 | Waterland Financial Holdings Co. Ltd. | 316,407 | ||||||
114,000 | Wei Chuan Foods Corp. | 177,690 | ||||||
46,000 | Wei Mon Industry Co. Ltd. | 15,899 | ||||||
65,100 | Weikeng Industrial Co. Ltd. | 45,993 | ||||||
15,606 | Well Shin Technology Co. Ltd. | 23,955 | ||||||
50,000 | Weltrend Semiconductor, Inc.(b) | 24,227 | ||||||
8,000 | Win Semiconductors Corp. | 9,501 | ||||||
884,977 | Winbond Electronics Corp.(b) | 245,894 | ||||||
579,673 | Wintek Corp.(b) | 297,575 | ||||||
371,479 | Wistron Corp. | 376,992 | ||||||
84,069 | Wistron NeWeb Corp. | 136,592 | ||||||
575,865 | WPG Holdings Co. Ltd. | 693,684 | ||||||
110,348 | WT Microelectronics Co. Ltd. | 131,616 | ||||||
95,000 | WUS Printed Circuit Co. Ltd.(b) | 38,306 | ||||||
12,000 | Xxentria Technology Materials Corp. | 22,770 | ||||||
430,000 | Yageo Corp.(b) | 136,087 | ||||||
1,163,600 | Yang Ming Marine Transport Corp.(b) | 522,421 | ||||||
211,077 | YC INOX Co. Ltd. | 114,794 | ||||||
25,000 | YeaShin International Development Co. Ltd. | 23,846 | ||||||
86,666 | Yem Chio Co. Ltd. | 59,026 | ||||||
431,624 | YFY, Inc. | 211,337 | ||||||
118,159 | Yi Jinn Industrial Co. Ltd.(b) | 28,827 | ||||||
309,596 | Yieh Phui Enterprise Co. Ltd. | 86,127 | ||||||
29,000 | Young Fast Optoelectronics Co. Ltd. | 52,179 | ||||||
352,000 | Yulon Motor Co. Ltd. | 603,524 | ||||||
29,000 | Yung Chi Paint & Varnish Manufacturing Co. Ltd. | 78,121 | ||||||
61,000 | YungShin Global Holding Corp. | 85,159 | ||||||
130,000 | Yungtay Engineering Co. Ltd. | 310,552 | ||||||
92,000 | Zenitron Corp. | 59,230 | ||||||
226,561 | Zig Sheng Industrial Co. Ltd. | 69,169 | ||||||
50,169 | Zinwell Corp. | 41,904 | ||||||
4,000 | Zippy Technology Corp. | 3,592 | ||||||
68,805,269 | ||||||||
THAILAND — 0.5% | ||||||||
76,300 | AJ Plast Public Co. Ltd. - FOR(d) | 34,056 |
Shares | Value | |||||||
THAILAND (continued) | ||||||||
272,500 | Amata Corp. Public Co. Ltd. - FOR(d) | $ | 213,543 | |||||
413,880 | Asian Property Development Public Co. Ltd. - FOR(d) | 132,554 | ||||||
179,700 | Asian Property Development Public Co. Ltd. - NVDR | 57,553 | ||||||
404,300 | Bangchak Petroleum Public Co. Ltd. - FOR | 499,348 | ||||||
6,500 | Bangkok Aviation Fuel Services Public Co. Ltd. - FOR | 5,271 | ||||||
6,801,000 | Bangkok Chain Hospital Public Co. Ltd. - FOR | 2,803,819 | ||||||
2,151,200 | Bangkok Expressway Public Co. Ltd. - FOR(d) | 2,931,789 | ||||||
22,000 | Bangkok Insurance Public Co. Ltd. - FOR(d) | 291,584 | ||||||
580,100 | Bangkokland Public Co. Ltd. - FOR(d) | 40,716 | ||||||
14,000 | Bank of Ayudhya Public Co. Ltd. - FOR | 15,622 | ||||||
24,100 | Banpu Public Co. Ltd. - FOR(d) | 280,003 | ||||||
6,000 | Big C Supercenter Public Co. Ltd. - FOR | 47,223 | ||||||
62,700 | Bumrungrad Hospital Public Co. Ltd. - FOR | 175,710 | ||||||
1,158,900 | CalComp Electronics Public Co. Ltd. - FOR | 142,148 | ||||||
261,400 | Central Plaza Hotel Public Co. Ltd. - FOR(d) | 331,760 | ||||||
316,500 | CH Karnchang Public Co. Ltd. - FOR | 296,550 | ||||||
2,100 | Charoong Thai Wire & Cable Public Co. Ltd. - FOR | 1,080 | ||||||
307,400 | Delta Electronics Thailand Public Co. Ltd. - FOR | 397,997 | ||||||
31,200 | Dynasty Ceramic Public Co. Ltd. - FOR(d) | 66,174 | ||||||
5,914,800 | Eastern Water Resources Development and Management Public Co. Ltd. - FOR(d) | 2,861,675 | ||||||
52,000 | Electricity Generating Public Co. Ltd. - FOR(d) | 271,959 | ||||||
116,000 | Esso Thailand Public Co. Ltd. - FOR | 38,140 | ||||||
12,801,000 | G J Steel Public Co. Ltd. - FOR(b)(d) | 56,699 | ||||||
1,289,700 | G Steel Public Co. Ltd. - FOR(b) | 15,380 | ||||||
143,500 | GFPT Public Co. Ltd. - FOR | 41,070 | ||||||
135,200 | Glow Energy Public Co. Ltd. - FOR | 354,698 | ||||||
233,500 | Hana Microelectronics Public Co. Ltd. - FOR | 197,302 | ||||||
1,785,800 | Hemaraj Land and Development Public Co. Ltd. - FOR(d) | 261,633 | ||||||
1,362,255 | Home Product Center Public Co. Ltd. - FOR(d) | 696,212 |
63 |
|
Old Westbury Funds, Inc. | |
Global Small & Mid Cap Fund | |
Portfolio of Investments - (Continued) | April 30, 2013 |
(Unaudited) |
Shares | Value | |||||||
THAILAND (continued) | ||||||||
63,100 | ICC International Public Co. Ltd. - FOR(d) | $ | 88,147 | |||||
2,285,000 | IRPC Public Co. Ltd. - FOR(d) | 319,199 | ||||||
664,100 | Italian-Thai Development Public Co. Ltd. - FOR(b)(d) | 190,066 | ||||||
930,500 | Jasmine International Public Co. Ltd. - FOR(d) | 261,555 | ||||||
126,400 | KGI Securities Thailand Public Co. Ltd. - FOR(d) | 15,418 | ||||||
155,100 | Khon Kaen Sugar Industry Public Co. Ltd.(d) | 66,056 | ||||||
81,600 | Kiatnakin Bank Public Co. Ltd. - FOR | 196,007 | ||||||
225,100 | Land and Houses Public Co. Ltd. - FOR | 100,471 | ||||||
452,800 | Land and Houses Public Co. Ltd. - NVDR | 202,102 | ||||||
21,900 | Lanna Resources Public Co. Ltd. - FOR | 12,759 | ||||||
420,630 | Loxley Public Co. Ltd. - FOR | 96,021 | ||||||
85,600 | Major Cineplex Group Public Co. Ltd. - FOR(d) | 64,747 | ||||||
36,900 | MBK Public Co. Ltd. - FOR | 208,702 | ||||||
71,100 | MCOT Public Co. Ltd. - FOR(d) | 121,124 | ||||||
77,000 | MCS Steel Public Co. Ltd. - FOR | 12,750 | ||||||
143,770 | Minor International Public Co. Ltd. - FOR(d) | 120,502 | ||||||
2,094,100 | Polyplex Public Co. Ltd. - FOR(d) | 877,596 | ||||||
240,500 | Precious Shipping Public Co. Ltd. - FOR(d) | 145,857 | ||||||
53,800 | Pruksa Real Estate Public Co. Ltd. - FOR(d) | 53,617 | ||||||
805,141 | Quality Houses Public Co. Ltd. - FOR(d) | 115,765 | ||||||
118,700 | Ratchaburi Electricity Generating Holding Public Co. Ltd. - FOR(d) | 239,624 | ||||||
34,100 | Regional Container Lines Public Co. Ltd. - FOR(b) | 8,075 | ||||||
153,900 | Robinson Department Store Public Co. Ltd. - FOR(d) | 418,178 | ||||||
28,500 | Rojana Industrial Park Public Co. Ltd. - FOR | 12,138 | ||||||
69,300 | Saha-Union Public Co. Ltd. - FOR | 97,988 | ||||||
1,383,400 | Sahaviriya Steel Industries Public Co. Ltd. - FOR(b)(d) | 27,338 | ||||||
276,600 | Samart Corp. Public Co. Ltd. - FOR(d) | 263,877 | ||||||
35,700 | Samart Telcoms Public Co. Ltd. - FOR | 30,713 | ||||||
1,921,500 | Sansiri Public Co. Ltd. - FOR | 288,061 | ||||||
842,500 | SC Asset Corp. Public Co. Ltd. - FOR(d) | 223,901 | ||||||
15,100 | Siam City Cement Public Co. Ltd. - FOR(d) | 251,066 |
Shares | Value | |||||||
THAILAND (continued) | ||||||||
41,512 | Siam Future Development Public Co. Ltd. - FOR | $ | 12,871 | |||||
23,300 | Siam Makro Public Co. Ltd. - FOR(d) | 598,576 | ||||||
77,500 | Siamgas & Petrochemicals Public Co. Ltd. - FOR(d) | 34,327 | ||||||
44,000 | SNC Former Public Co. Ltd. - FOR | 36,579 | ||||||
92,818 | Somboon Advance Technology Public Co. Ltd. - FOR | 90,920 | ||||||
44,700 | Sri Trang Agro-Industry Public Co. Ltd. - FOR | 23,759 | ||||||
7,700 | STP & I Public Co. Ltd. - FOR | 24,530 | ||||||
263,800 | Supalai Public Co. Ltd. - FOR(d) | 184,256 | ||||||
1,330,700 | Tata Steel Thailand Public Co. Ltd. - FOR(b) | 50,326 | ||||||
83,900 | Thai Airways International Public Co. Ltd. - FOR | 84,329 | ||||||
22,200 | Thai Carbon Black Public Co. Ltd. - FOR | 21,179 | ||||||
15,000 | Thai Central Chemical Public Co. Ltd. - FOR | 12,164 | ||||||
18,000 | Thai Oil Public Co. Ltd. - FOR(d) | 40,477 | ||||||
18,200 | Thai Stanley Electric Public Co. Ltd. - FOR | 155,646 | ||||||
200,718 | Thai Union Frozen Products Public Co. Ltd. - FOR(d) | 386,391 | ||||||
25,800 | Thai Vegetable Oil Public Co. Ltd. - FOR | 20,218 | ||||||
204,400 | Thaicom Public Co. Ltd. - FOR(d) | 238,525 | ||||||
425,100 | Thanachart Capital Public Co. Ltd. - FOR(d) | 691,602 | ||||||
268,464 | Thoresen Thai Agencies Public Co. Ltd. - FOR(b) | 163,731 | ||||||
4,064,737 | Ticon Industrial Connection Public Co. Ltd. - FOR(d) | 3,420,750 | ||||||
18,500 | Tipco Asphalt Public Co. Ltd. - FOR | 44,595 | ||||||
195,000 | Tisco Financial Group Public Co. Ltd. - FOR(d) | 365,417 | ||||||
5,285,900 | TMB Bank Public Co. Ltd. - FOR(d) | 493,471 | ||||||
137,000 | Total Access Communication Public Co. Ltd. - FOR(d) | 546,133 | ||||||
600,000 | TPI Polene Public Co. Ltd. - FOR | 306,644 | ||||||
1,863,445 | True Corp. Public Co. Ltd. - FOR(b)(d) | 536,494 | ||||||
256,900 | Vinythai Public Co. Ltd. - FOR | 161,930 | ||||||
27,434,528 | ||||||||
TURKEY — 0.2% | ||||||||
7,837 | Adana Cimento Sanayii T.A.S. - Class A | 19,671 | ||||||
13,070 | Akcansa Cimento AS | 78,738 |
64 |
|
Old Westbury Funds, Inc. | |
Global Small & Mid Cap Fund | |
Portfolio of Investments - (Continued) | April 30, 2013 |
(Unaudited) |
Shares | Value | |||||||
TURKEY (continued) | ||||||||
74,462 | Akenerji Elektrik Uretim AS - Placement Shares(b) | $ | 69,364 | |||||
16,484 | Akfen Holding AS(b) | 50,020 | ||||||
325 | Akmerkez Gayrimenkul Yatirim Ortakligi AS REIT | 3,358 | ||||||
61,656 | Aksa Akrilik Kimya Sanayii | 181,589 | ||||||
73,605 | Aksigorta AS | 92,789 | ||||||
14,323 | Alarko Holding AS | 43,302 | ||||||
29,526 | Albaraka Turk Katilim Bankasi AS(b) | 31,951 | ||||||
13,283 | Altinyildiz Mensucat ve Konfeksiyon Fabrikalari AS(b) | 368,612 | ||||||
28,087 | Anadolu Anonim Tuerk Sigorta Sirketi(b) | 20,837 | ||||||
21,266 | Anadolu Cam Sanayii AS(b) | 32,858 | ||||||
31,143 | Anadolu Hayat Emeklilik AS | 100,755 | ||||||
24,069 | Arcelik AS | 187,288 | ||||||
128,647 | Asya Katilim Bankasi AS(b) | 155,718 | ||||||
46,890 | Aygaz AS | 255,799 | ||||||
679 | Bagfas Bandirma Gubre Fabrik | 20,358 | ||||||
793 | Baticim Bati Anadolu Cimento Sanayii AS | 3,388 | ||||||
2,472 | Borusan Mannesmann Boru Sanayi ve Ticaret AS | 47,020 | ||||||
21,074 | Brisa Bridgestone Sabanci Sanayi ve Ticaret AS | 58,776 | ||||||
16,881 | Bursa Cimento Fabrikasi AS | 48,023 | ||||||
90,362 | Celebi Hava Servisi AS(b) | 1,058,491 | ||||||
29,087 | Cimsa Cimento Sanayi ve Ticaret AS | 172,794 | ||||||
12,109 | Coca-Cola Icecek AS | 337,721 | ||||||
11,012 | Deva Holding AS(b) | 13,697 | ||||||
259,431 | Dogan Sirketler Grubu Holdings AS(b) | 175,101 | ||||||
5,064 | Dogan Yayin Holding AS(b) | 2,486 | ||||||
55,895 | Dogus Otomotiv Servis ve Ticaret AS | 356,992 | ||||||
13,370 | Eczacibasi Yatirim Holding Ortakligi AS | 52,205 | ||||||
144,670 | EIS Eczacibasi Ilac ve Sinai ve Finansal Yatirimlar Sanayi ve Ticaret AS | 206,585 | ||||||
29,868 | Emlak Konut Gayrimenkul Yatirim Ortakligi AS REIT | 51,148 | ||||||
276,646 | Eregli Demir ve Celik Fabrikalari TAS | 316,343 | ||||||
17,827 | Ford Otomotiv Sanayi AS | 247,604 | ||||||
66,324 | Gentas Genel Metal Sanayi ve Ticaret AS | 49,204 | ||||||
67,762 | Global Yatirim Holding AS(b) | 68,414 | ||||||
276 | Goltas Goller Bolgesi Cimento Sanayi ve Ticaret AS | 10,161 | ||||||
2,500 | Goodyear Lastikleri TAS | 87,854 | ||||||
74,533 | GSD Holding AS(b) | 58,205 | ||||||
5,261 | Gubre Fabrikalari TAS(b) | 46,367 | ||||||
9,201 | Hurriyet Gazetecilik AS(b) | 4,824 | ||||||
170,851 | Ihlas Holding AS(b) | 78,147 |
Shares | Value | |||||||
TURKEY (continued) | ||||||||
72,512 | Ipek Dogal Enerji Kaynaklari Ve Uretim AS(b) | $ | 204,664 | |||||
36,246 | IS Finansal Kiralama AS(b) | 20,622 | ||||||
9,126 | IS Yatirim Menkul Degerler AS | 8,603 | ||||||
25,002 | Izmir Demir Celik Sanayi AS(b) | 41,281 | ||||||
23,780 | Kardemir Karabuk Demir Celik | |||||||
Sanayi ve Ticaret AS - Class A(b) | 35,152 | |||||||
10,085 | Kardemir Karabuk Demir Celik Sanayi ve Ticaret AS - Class B(b) | 23,683 | ||||||
118,896 | Kardemir Karabuk Demir Celik Sanayi ve Ticaret AS - Class D | 133,967 | ||||||
428 | Kartonsan Karton Sanayi ve Ticaret AS | 69,538 | ||||||
842 | Konya Cimento Sanayii AS | 159,218 | ||||||
57,679 | Kordsa Global Endustriyel Iplik ve Kord Bezi Sanayi ve Ticaret AS | 116,790 | ||||||
36,000 | Koza Anadolu Metal Madencilik Isletmeleri AS(b) | 89,561 | ||||||
18,103 | Mardin Cimento Sanayii ve Ticaret AS | 58,365 | ||||||
71,042 | Menderes Tekstil Sanayi ve Ticaret AS(b) | 21,795 | ||||||
2,685 | Migros Ticaret AS(b) | 34,822 | ||||||
37,052 | NET Holding AS(b) | 52,290 | ||||||
26,330 | Netas Telekomunikasyon AS | 157,885 | ||||||
5,026 | Otokar Otomotiv Ve Savunma Sanayi AS | 184,331 | ||||||
113,035 | Petkim Petrokimya Holding AS(b) | 196,720 | ||||||
7,882 | Pinar SUT Mamulleri Sanayii AS | 75,182 | ||||||
84,071 | Polyester Sanayi AS(b) | 53,460 | ||||||
82,244 | Sarkuysan Elektrolitik Bakir Sanayi ve Ticaret AS | 131,664 | ||||||
101,183 | Sekerbank TAS(b) | 116,266 | ||||||
131,825 | Selcuk Ecza Deposu Ticaret ve Sanayi AS | 154,418 | ||||||
35,281 | Soda Sanayii AS(b) | 50,183 | ||||||
10,000 | TAV Havalimanlari Holding AS(b) | 70,562 | ||||||
9,602 | Tekfen Holding AS | 37,278 | ||||||
62,692 | Tekstil Bankasi AS(b) | 59,099 | ||||||
20,247 | Tofas Turk Otomobil Fabrikasi AS | 141,174 | ||||||
9,410 | Torunlar Gayrimenkul Yatirim Ortakligi AS | 22,203 | ||||||
158,040 | Trakya Cam Sanayi AS(b) | 267,111 | ||||||
9,741 | Turcas Petrol AS | 18,854 | ||||||
105,728 | Turk Hava Yollari AO(b) | 439,954 | ||||||
379,748 | Turkiye Sinai Kalkinma Bankasi AS | 546,506 | ||||||
346,487 | Turkiye Sise ve Cam Fabrikalari AS | 587,545 | ||||||
70,778 | Ulker Biskuvi Sanayi AS | 606,019 |
65 |
|
Old Westbury Funds, Inc. | |
Global Small & Mid Cap Fund | |
Portfolio of Investments - (Continued) | April 30, 2013 |
(Unaudited) |
Shares | Value | |||||||
TURKEY (continued) | ||||||||
16,077 | Vestel Beyaz Esya Sanayi ve Ticaret AS(b) | $ | 24,303 | |||||
26,406 | Vestel Elektonik Sanayi ve Ticaret AS(b) | 33,583 | ||||||
11,836 | Yapi Kredi Sigorta AS(b) | 116,199 | ||||||
10,425,407 | ||||||||
UKRAINE — 0.0% | ||||||||
2,491 | Kernel Holding SA(b) | 45,171 | ||||||
UNITED ARAB EMIRATES — 0.0% | ||||||||
90,281 | Dragon Oil Plc(b) | 877,450 | ||||||
80,439 | Lamprell Plc | 180,553 | ||||||
1,058,003 | ||||||||
UNITED KINGDOM — 8.8% | ||||||||
929 | 4imprint Group Plc | 7,287 | ||||||
278,982 | Aberdeen Asset Management Plc | 1,944,471 | ||||||
7,449 | Acal Plc | 24,415 | ||||||
27,694 | Admiral Group Plc | 551,067 | ||||||
292,869 | Afren Plc(b) | 610,059 | ||||||
51,749 | African Barrick Gold Plc | 140,673 | ||||||
21,716 | Aga Rangemaster Group Plc(b) | 26,480 | ||||||
199,220 | Alent Plc(b) | 1,049,683 | ||||||
139,796 | AMEC Plc | 2,199,751 | ||||||
100,038 | Amlin Plc | 659,492 | ||||||
51,177 | Anglo Pacific Group Plc | 172,307 | ||||||
2,770 | Anglo-Eastern Plantations | 30,571 | ||||||
68,300 | Anite Plc | 129,859 | ||||||
97,903 | Ashmore Group Plc | 607,094 | ||||||
273,530 | Ashtead Group Plc | 2,496,216 | ||||||
18,885 | Aveva Group Plc | 651,237 | ||||||
6,071 | Avon Rubber Plc | 39,608 | ||||||
115,161 | Babcock International Group Plc | 1,914,073 | ||||||
215,301 | Balfour Beatty Plc | 722,051 | ||||||
22,893 | BARR (A.G.) Plc | 194,873 | ||||||
206,507 | Barratt Developments Plc(b) | 998,260 | ||||||
142,558 | BBA Aviation Plc | 555,599 | ||||||
43,519 | Bellway Plc | 909,223 | ||||||
44,135 | Berendsen Plc | 530,289 | ||||||
108,436 | Berkeley Group Holdings Plc | 3,511,954 | ||||||
1,309 | Betfair Group Plc | 17,588 | ||||||
16,127 | Big Yellow Group Plc REIT | 101,080 | ||||||
3,760 | Bloomsbury Publishing Plc | 6,775 | ||||||
1,068,769 | Bodycote Plc | 8,591,392 | ||||||
90,227 | Booker Group Plc | 166,783 | ||||||
20,861 | Boot (Henry) Plc | 58,328 | ||||||
72,968 | Bovis Homes Group Plc | 870,488 | ||||||
5,449 | Braemar Shipping Services Plc | 33,857 | ||||||
9,901 | Brammer Plc | 54,829 | ||||||
81,352 | Brewin Dolphin Holdings Plc | 264,109 | ||||||
67,702 | British Land Co. Plc REIT | 625,205 | ||||||
3,462 | British Polythene Industries Plc | 29,577 | ||||||
22,208 | Britvic Plc | 151,786 | ||||||
71,760 | BTG Plc(b) | 385,346 |
Shares | Value | |||||||
UNITED KINGDOM (continued) | ||||||||
150,395 | Bunzl Plc | $ | 2,987,950 | |||||
76,492 | Cable & Wireless Communications Plc | 50,237 | ||||||
373,516 | Cairn Energy Plc(b) | 1,674,460 | ||||||
11 | Camellia Plc | 1,798 | ||||||
56,724 | Capita Plc | 795,213 | ||||||
74,940 | Capital & Counties Properties Plc | 358,537 | ||||||
91,052 | Capital & Regional Plc(b) | 48,795 | ||||||
11,197 | Carclo Plc | 71,137 | ||||||
349,116 | Carillion Plc | 1,454,447 | ||||||
5,800 | Centaur Media Plc | 4,167 | ||||||
3,699 | Charles Stanley Group Plc | 23,242 | ||||||
2,606 | Charles Taylor Plc | 7,165 | ||||||
36,659 | Chemring Group Plc | 154,376 | ||||||
48,647 | Chesnara Plc | 180,791 | ||||||
23,254 | Chime Communications Plc | 92,652 | ||||||
43,740 | Cineworld Group Plc | 196,697 | ||||||
4,407 | Clarkson Plc | 111,583 | ||||||
61,525 | Close Brothers Group Plc | 992,971 | ||||||
78,439 | Coalfield Resources Plc(b) | 5,178 | ||||||
1,870,928 | Cobham Plc | 7,280,046 | ||||||
114,494 | Colt Group SA(b) | 204,527 | ||||||
27,870 | Communisis Plc | 23,378 | ||||||
63,868 | Computacenter Plc | 444,259 | ||||||
29,203 | Concentric AB | 297,390 | ||||||
6,595 | Consort Medical Plc | 81,955 | ||||||
5,190 | Costain Group Plc | 22,251 | ||||||
16,173 | Cranswick Plc | 265,543 | ||||||
4,000 | Creston Plc | 5,344 | ||||||
617,462 | Croda International Plc | 23,767,355 | ||||||
73,400 | CSR Plc | 562,098 | ||||||
102,197 | Daily Mail & General Trust Plc - Class A | 1,092,184 | ||||||
54,059 | Dairy Crest Group Plc | 386,022 | ||||||
39,738 | Darty Plc | 30,246 | ||||||
907,173 | De La Rue Plc(d) | 13,126,299 | ||||||
353,060 | Debenhams Plc | 456,290 | ||||||
7,740 | Dechra Pharmaceuticals Plc | 86,325 | ||||||
34,483 | Derwent London Plc REIT | 1,236,797 | ||||||
29,907 | Development Securities Plc | 67,361 | ||||||
89,965 | Devro Plc | 461,026 | ||||||
4,248 | Dialight Plc | 85,518 | ||||||
5,188 | Dignity Plc | 110,969 | ||||||
1,008,908 | Diploma Plc(d) | 8,940,803 | ||||||
1,041,571 | Dixons Retail Plc(b) | 567,891 | ||||||
981,326 | Domino Printing Sciences Plc(d) | 10,167,366 | ||||||
42,149 | Domino’s Pizza Group Plc | 426,224 | ||||||
295,471 | Drax Group Plc | 2,815,780 | ||||||
167,079 | DS Smith Plc | 605,489 | ||||||
6,273 | Dunelm Group Plc | 82,338 | ||||||
25,606 | E2V Technologies Plc | 47,332 | ||||||
79,189 | easyJet Plc | 1,374,002 | ||||||
230,794 | Electrocomponents Plc | 861,843 | ||||||
229,079 | Elementis Plc | 937,638 |
66 |
|
Old Westbury Funds, Inc. | |
Global Small & Mid Cap Fund | |
Portfolio of Investments - (Continued) | April 30, 2013 |
(Unaudited) |
Shares | Value | |||||||
UNITED KINGDOM (continued) | ||||||||
171,604 | EnQuest Plc(b) | $ | 343,597 | |||||
1,895,000 | Ensco Plc - ADR | 109,303,600 | ||||||
188,946 | Enterprise Inns Plc(b) | 287,483 | ||||||
14,750 | Erinaceous Group Plc(b)(c)(d) | 0 | ||||||
8,205 | Euromoney Institutional Investor Plc | 124,903 | ||||||
304,900 | F&C Asset Management Plc | 464,144 | ||||||
1,043,379 | Fenner Plc | 5,698,496 | ||||||
74,493 | Fiberweb Plc | 92,282 | ||||||
9,707 | Fidessa Group Plc | 270,657 | ||||||
97,005 | Filtrona Plc | 1,064,573 | ||||||
108 | Findel Plc(b) | 273 | ||||||
135,966 | Firstgroup Plc | 445,849 | ||||||
2,555 | Fuller Smith & Turner - Class A | 31,750 | ||||||
539,467 | G4S Plc | 2,621,205 | ||||||
28,463 | Galliford Try Plc | 435,719 | ||||||
5,558 | Games Workshop Group Plc | 59,571 | ||||||
54,226 | Gem Diamonds Ltd.(b) | 110,133 | ||||||
24,405 | Genus Plc | 513,674 | ||||||
1,388,182 | GKN Plc | 5,925,602 | ||||||
14,268 | Go-Ahead Group Plc | 343,530 | ||||||
38,840 | Great Portland Estates Plc REIT . | 320,967 | ||||||
634,759 | Greene King Plc | 7,168,241 | ||||||
15,572 | Greggs Plc | 100,262 | ||||||
70,960 | Halfords Group Plc | 380,058 | ||||||
1,057,069 | Halma Plc | 8,218,201 | ||||||
84,204 | Hammerson Plc REIT | 679,497 | ||||||
73,847 | Hansteen Holdings Plc REIT | 97,848 | ||||||
16,173 | Hardy Oil & Gas Plc(b) | 28,702 | ||||||
78,688 | Hargreaves Lansdown Plc | 1,197,243 | ||||||
73,639 | Hays Plc | 106,838 | ||||||
7,301 | Headlam Group Plc | 39,013 | ||||||
41,557 | Helical Bar Plc | 160,090 | ||||||
225,834 | Henderson Group Plc | 578,819 | ||||||
71,298 | Hikma Pharmaceuticals Plc | 1,082,035 | ||||||
38,157 | Hill & Smith Holdings Plc | 254,273 | ||||||
337 | Hilton Food Group Ltd. | 1,861 | ||||||
35,750 | Hochschild Mining Plc | 137,998 | ||||||
5,026 | Hogg Robinson Group Plc | 4,372 | ||||||
98,781 | Home Retail Group Plc | 239,062 | ||||||
87,969 | Homeserve Plc | 286,138 | ||||||
211,194 | Howden Joinery Group Plc | 815,881 | ||||||
50,371 | Hunting Plc | 631,427 | ||||||
34,778 | Huntsworth Plc | 32,413 | ||||||
3,454 | Hyder Consulting Plc | 25,270 | ||||||
194,352 | ICAP Plc | 868,859 | ||||||
72,761 | IG Group Holdings Plc | 608,630 | ||||||
51,184 | Imagination Technologies Group Plc(b) | 338,221 | ||||||
102,510 | IMI Plc | 1,972,908 | ||||||
278,543 | Inchcape Plc | 2,167,701 | ||||||
59,469 | Inmarsat Plc | 667,418 | ||||||
497,362 | Innovation Group Plc(b) | 200,870 | ||||||
82,005 | InterContinental Hotels Group Plc | 2,417,719 |
Shares | Value | |||||||
UNITED KINGDOM (continued) | ||||||||
335,718 | International Consolidated Airlines Group(b) | $ | 1,418,446 | |||||
1,094,424 | Interserve Plc(d) | 8,037,711 | ||||||
41,164 | Intertek Group Plc | 2,115,205 | ||||||
42,784 | Intu Properties Plc REIT | 227,753 | ||||||
269,086 | Invensys Plc | 1,607,987 | ||||||
240,925 | Investec Plc | 1,702,796 | ||||||
70,424 | IP Group Plc(b) | 169,559 | ||||||
22,429 | ITE Group Plc | 91,316 | ||||||
1,283,644 | ITV Plc | 2,510,381 | ||||||
8,667 | James Fisher & Sons Plc | 135,302 | ||||||
28,273 | Jardine Lloyd Thompson Group Plc | 372,204 | ||||||
63,090 | Jazztel Plc(b) | 474,423 | ||||||
7,378 | JD Sports Fashion Plc | 97,988 | ||||||
26,702 | JKX Oil & Gas Plc(b) | 28,101 | ||||||
4,183 | John Menzies Plc | 47,400 | ||||||
243,164 | John Wood Group Plc | 2,927,321 | ||||||
41,414 | Johnson Matthey Plc | 1,559,370 | ||||||
81,564 | Johnston Press Plc(b) | 19,321 | ||||||
35,089 | Jupiter Fund Management Plc | 180,141 | ||||||
172,730 | Kcom Group Plc | 227,125 | ||||||
19,459 | Keller Group Plc | 259,798 | ||||||
17,238 | Kier Group Plc | 313,822 | ||||||
51,645 | Kofax Plc(b) | 256,713 | ||||||
98,592 | Ladbrokes Plc | 290,062 | ||||||
2,486,999 | Laird Plc(d) | 8,386,964 | ||||||
122,471 | Lancashire Holdings Ltd. | 1,610,384 | ||||||
13,753 | Lavendon Group Plc | 36,104 | ||||||
73,615 | London Stock Exchange Group Plc | 1,533,432 | ||||||
73,366 | Londonmetric Property Plc REIT | 130,488 | ||||||
77,005 | Lonmin Plc(b) | 321,766 | ||||||
43,642 | Lookers Plc | 63,385 | ||||||
22,684 | Low & Bonar Plc | 25,018 | ||||||
1,283 | LSL Property Services Plc | 6,995 | ||||||
354,344 | Man Strategic Holdings Plc(b) | 562,530 | ||||||
6,088 | Management Consulting Group Plc | 3,026 | ||||||
47,388 | Marshalls Plc | 93,669 | ||||||
283,064 | Marston’s Plc | 636,682 | ||||||
939,318 | McBride Pharmacy Ltd. - Redeemable B Shares(b)(c)(d) | 1,459 | ||||||
55,254 | McBride Plc | 98,274 | ||||||
1,244 | McKay Securities Plc REIT | 2,725 | ||||||
28,145 | Mears Group Plc | 153,235 | ||||||
53,040 | Mecom Group Plc | 35,222 | ||||||
300,861 | Meggitt Plc | 2,189,967 | ||||||
98,125 | Michael Page International Plc | 567,926 | ||||||
69,830 | Millennium & Copthorne Hotels Plc | 613,400 | ||||||
49,303 | Mitchells & Butlers Plc(b) | 256,100 | ||||||
165,675 | Mitie Group Plc | 710,804 | ||||||
231,628 | Mondi Plc | 3,063,691 |
67 |
|
Old Westbury Funds, Inc. | |
Global Small & Mid Cap Fund | |
Portfolio of Investments - (Continued) | April 30, 2013 |
(Unaudited) |
Shares | Value | |||||||
UNITED KINGDOM (continued) | ||||||||
125,036 | Moneysupermarket.com Group Plc | $ | 389,809 | |||||
149,745 | Morgan Advanced Materials Plc | 608,266 | ||||||
15,010 | Morgan Sindall Group Plc | 134,066 | ||||||
15,763 | Mothercare Plc(b) | 77,619 | ||||||
15,625 | MWB Group Holdings Plc - Units(b)(c)(d) | 0 | ||||||
80,593 | N Brown Group Plc | 558,344 | ||||||
136,397 | National Express Group Plc | 405,735 | ||||||
3,594 | NCC Group Plc | 6,308 | ||||||
990,480 | New Melrose Plc(b) | 3,755,630 | ||||||
55,574 | Northgate Plc | 292,645 | ||||||
21,393 | Novae Group Plc | 155,022 | ||||||
9,252 | Ocado Group Plc(b) | 24,432 | ||||||
6,260 | Optos Plc(b) | 15,729 | ||||||
2,971 | Oxford Instruments Plc | 71,071 | ||||||
75,490 | Pace Plc | 291,163 | ||||||
4,258 | PayPoint Plc | 53,872 | ||||||
149,749 | Pendragon Plc(b) | 54,082 | ||||||
135,216 | Pennon Group Plc | 1,439,809 | ||||||
256,487 | Persimmon Plc | 4,302,872 | ||||||
256,487 | Persimmon Plc(b)(c)(d) | 298,811 | ||||||
35,551 | Petropavlovsk Plc | 80,074 | ||||||
36,290 | Photo-Me International Plc | 43,829 | ||||||
131,010 | Premier Farnell Plc | 430,412 | ||||||
8,989 | Premier Foods Plc(b) | 10,193 | ||||||
141,787 | Premier Oil Plc(b) | 821,293 | ||||||
13,395 | Provident Financial Plc | 338,948 | ||||||
279,236 | Punch Taverns Plc(b) | 44,460 | ||||||
78,418 | PZ Cussons Plc | 486,268 | ||||||
144,897 | QinetiQ Group Plc | 426,293 | ||||||
44,169 | Quintain Estates & Development Plc(b) | 44,425 | ||||||
4,954 | Rathbone Brothers Plc | 112,351 | ||||||
3,560 | REA Holdings Plc | 25,438 | ||||||
213 | REA Holdings Plc - Preferred Shares(b) | 386 | ||||||
125,122 | Redrow Plc(b) | 415,732 | ||||||
9,324 | Renishaw Plc | 238,397 | ||||||
47,797 | Renold Plc(b) | 15,220 | ||||||
43,173 | Renovo Group Plc(b) | 12,993 | ||||||
221,069 | Rentokil Initial Plc | 325,713 | ||||||
69,193 | Restaurant Group Plc | 517,951 | ||||||
2,144,069 | Rexam Plc | 17,201,979 | ||||||
9,385 | Ricardo Plc | 56,563 | ||||||
30,878 | Rightmove Plc | 921,395 | ||||||
5,585 | RM Plc | 6,442 | ||||||
26,258 | Robert Walters Plc | 94,220 | ||||||
606,493 | Rotork Plc(d) | 27,405,570 | ||||||
75,411 | RPC Group Plc | 465,982 | ||||||
136,419 | RPS Group Plc | 528,495 | ||||||
1,524,920 | RSA Insurance Group Plc | 2,636,401 | ||||||
12,443 | Safestore Holdings Plc | 26,480 | ||||||
1,014,959 | Sage Group Plc (The) | 5,320,980 | ||||||
67,612 | Salamander Energy Plc(b) | 191,881 | ||||||
45,100 | Savills Plc | 407,726 |
Shares | Value | |||||||
UNITED KINGDOM (continued) | ||||||||
101,874 | Schroders Plc | $ | 3,695,044 | |||||
42,407 | Schroders Plc - Non Voting | 1,218,649 | ||||||
35,597 | SDL Plc | 201,217 | ||||||
71,325 | Segro Plc REIT | 295,152 | ||||||
182,318 | Senior Plc | 722,169 | ||||||
912,868 | Serco Group Plc | 8,770,352 | ||||||
102,276 | Severfield-Rowen Plc | 62,754 | ||||||
89,681 | Severn Trent Plc | 2,536,762 | ||||||
94,571 | Shaftesbury Plc REIT | 892,429 | ||||||
269,219 | Shanks Group Plc | 341,871 | ||||||
241,389 | SIG Plc | 607,813 | ||||||
53,086 | Smiths Group Plc | 1,030,764 | ||||||
22,043 | Smiths News Plc | 61,462 | ||||||
79,439 | Soco International Plc(b) | 467,673 | ||||||
10,749 | Southern Cross Healthcare Group Plc(b)(c)(d) | 0 | ||||||
334,896 | Spectris Plc | 10,976,446 | ||||||
15,017 | Speedy Hire Plc | 11,313 | ||||||
273,501 | Spirax-Sarco Engineering Plc(d) | 11,143,626 | ||||||
207,268 | Spirent Communications Plc | 420,157 | ||||||
208,127 | Spirit Pub Co. Plc | 210,141 | ||||||
4,982 | Sportech Plc(b) | 7,623 | ||||||
94,269 | Sports Direct International Plc(b) | 682,669 | ||||||
96,548 | St. James’s Place Plc | 830,850 | ||||||
78,420 | St. Modwen Properties Plc | 325,730 | ||||||
154,395 | Stagecoach Group Plc | 737,476 | ||||||
32,005 | Sthree Plc | 166,794 | ||||||
4,859 | Stolt-Nielsen Ltd. | 100,272 | ||||||
8,341 | SuperGroup Plc(b) | 89,724 | ||||||
30,559 | Synergy Health Plc | 515,986 | ||||||
32,654 | Synthomer Plc | 101,903 | ||||||
14,308 | T Clarke Plc | 11,557 | ||||||
235,743 | Talktalk Telecom Group Plc | 918,042 | ||||||
214,060 | Tate & Lyle Plc | 2,808,048 | ||||||
845,724 | Taylor Wimpey Plc | 1,221,746 | ||||||
5,162 | Ted Baker Plc | 108,569 | ||||||
38,081 | Telecity Group Plc | 545,688 | ||||||
10,616 | Telecom Plus Plc | 201,182 | ||||||
3,226 | Topps Tiles Plc | 3,420 | ||||||
8,024 | Torotrak Plc(b) | 3,770 | ||||||
5,551 | Town Centre Securities Plc REIT | 17,138 | ||||||
85,551 | Travis Perkins Plc | 1,905,652 | ||||||
115,313 | Trinity Mirror Plc(b) | 161,209 | ||||||
1,355,957 | TT electronics Plc(d) | 3,506,949 | ||||||
80,473 | Tullett Prebon Plc | 305,632 | ||||||
25,733 | UBM Plc | 292,598 | ||||||
970 | UK Mail Group Plc | 6,404 | ||||||
411,658 | Ultra Electronics Holdings Plc(d) | 10,550,908 | ||||||
19,240 | Unite Group Plc | 103,945 | ||||||
257,394 | United Utilities Group Plc | 2,960,689 | ||||||
9,569 | UTV Media Plc | 23,671 | ||||||
197,460 | Vectura Group Plc(b) | 269,918 | ||||||
136,756 | Vedanta Resources Plc | 2,568,278 |
68 |
|
Old Westbury Funds, Inc. | |
Global Small & Mid Cap Fund | |
Portfolio of Investments - (Continued) | April 30, 2013 |
(Unaudited) |
Shares | Value | |||||||
UNITED KINGDOM (continued) | ||||||||
199,220 | Vesuvius Plc | $ | 1,076,915 | |||||
553,801 | Victrex Plc(d) | 13,806,961 | ||||||
11,826 | Vitec Group Plc (The) | 112,791 | ||||||
7,903 | Volex Plc | 11,877 | ||||||
81,025 | Weir Group Plc (The) | 2,773,958 | ||||||
50,439 | Wetherspoon (J.D.) Plc | 460,303 | ||||||
43,316 | WH Smith Plc | 497,572 | ||||||
128,753 | Whitbread Plc | 5,109,961 | ||||||
723,313 | William Hill Plc | 4,786,358 | ||||||
15,003 | Wilmington Group Plc | 35,190 | ||||||
21,070 | Wincanton Plc(b) | 17,346 | ||||||
79,245 | Wolfson Microelectronics Plc(b) | 252,653 | ||||||
32,930 | Workspace Group Plc REIT | 191,819 | ||||||
2,214 | WS Atkins Plc | 30,986 | ||||||
14,163 | Xaar Plc | 110,000 | ||||||
50,294 | Xchanging Plc | 104,686 | ||||||
501,993,372 | ||||||||
UNITED STATES — 42.9% | ||||||||
250,000 | ABM Industries, Inc. | 5,637,500 | ||||||
430,000 | Actuant Corp. - Class A | 13,459,000 | ||||||
1,413,407 | Advance Auto Parts, Inc. | 118,556,579 | ||||||
200,000 | Advent Software, Inc.(b) | 5,808,000 | ||||||
35,785 | Alacer Gold Corp. | 107,272 | ||||||
1,600,000 | Albemarle Corp.(d) | 98,000,000 | ||||||
81,000 | Altera Corp. | 2,592,810 | ||||||
1,820,000 | AmerisourceBergen Corp. | 98,498,400 | ||||||
22,000 | AMETEK, Inc. | 895,620 | ||||||
175,000 | Amtrust Financial Services, Inc. | 5,540,500 | ||||||
20,000 | ANSYS, Inc.(b) | 1,617,200 | ||||||
400,000 | Approach Resources Inc.(b) | 9,488,000 | ||||||
218,000 | Aptargroup, Inc. | 12,229,800 | ||||||
78,840 | Argonaut Gold, Inc.(b) | 499,280 | ||||||
80,000 | Arthur J Gallagher & Co. | 3,396,000 | ||||||
31,621 | Atna Resources Ltd.(b) | 19,460 | ||||||
74,000 | Avon Products, Inc. | 1,713,840 | ||||||
30,000 | Bard (C.R.), Inc. | 2,980,800 | ||||||
2,700 | Bauer Performance Sports Ltd.(b) | 31,062 | ||||||
32,000 | Beam, Inc. | 2,070,720 | ||||||
52,000 | Bed Bath & Beyond, Inc.(b) | 3,577,600 | ||||||
125,000 | Bio-Rad Laboratories, Inc. - Class A(b) | 14,968,750 | ||||||
150,000 | Bio-Reference Labs, Inc.(b) | 3,825,000 | ||||||
13,507 | Biota Pharmaceuticals, Inc. | 56,864 | ||||||
2,000,000 | BMC Software, Inc.(b) | 90,960,000 | ||||||
23,400 | BNK Petroleum, Inc.(b) | 17,420 | ||||||
77,039 | Boart Longyear Ltd. | 76,272 | ||||||
350,000 | Bottomline Technologies, Inc.(b) | 9,170,000 | ||||||
150,000 | Brady Corp. - Class A | 5,082,000 | ||||||
160,000 | Bryn Mawr Bank Corp.(d) | 3,716,800 | ||||||
350,000 | Cardtronics, Inc.(b) | 9,803,500 | ||||||
3,291,200 | CareFusion Corp.(b)(d) | 110,057,728 | ||||||
225,000 | Casey’s General Stores, Inc. | 13,029,750 | ||||||
219,000 | Cepheid, Inc.(b) | 8,350,470 |
Shares | Value | |||||||
UNITED STATES (continued) | ||||||||
16,000 | Church & Dwight Co., Inc. | $ | 1,022,240 | |||||
269,500 | CLARCOR, Inc. | 13,933,150 | ||||||
29,000 | Clorox Co. (The) | 2,501,250 | ||||||
200,000 | Community Bank System, Inc. | 5,728,000 | ||||||
15,000 | Concho Resources, Inc.(b) | 1,291,950 | ||||||
12,000 | Concur Technologies, Inc.(b) | 877,320 | ||||||
2,510,000 | Crown Holdings, Inc.(b)(d) | 107,126,800 | ||||||
20,000 | Cullen/Frost Bankers, Inc. | 1,208,200 | ||||||
219,000 | Denbury Resources, Inc.(b) | 3,917,910 | ||||||
55,000 | Dover Corp. | 3,793,900 | ||||||
22,000 | Edwards Lifesciences Corp.(b) | 1,403,380 | ||||||
200,000 | Elizabeth Arden, Inc.(b) | 8,190,000 | ||||||
914,000 | Energizer Holdings, Inc. | 88,283,260 | ||||||
216,300 | EnPro Industries, Inc.(b) | 10,659,264 | ||||||
154,000 | Esterline Technologies Corp.(b) | 11,556,160 | ||||||
100,000 | FARO Technologies, Inc.(b) | 3,879,000 | ||||||
35,000 | First Republic Bank (California) | 1,329,300 | ||||||
700,000 | Fiserv, Inc.(b) | 63,777,000 | ||||||
111,900 | Flotek Industries, Inc.(b) | 1,794,876 | ||||||
545,000 | Flowserve Corp. | 86,175,400 | ||||||
186,400 | Genomic Health, Inc.(b) | 5,659,104 | ||||||
144,754 | Golden Star Resources Ltd.(b) | 156,615 | ||||||
223,200 | Guidewire Software, Inc.(b) | 8,945,856 | ||||||
350,000 | Harris Teeter Supermarkets, Inc. | 14,626,500 | ||||||
563,519 | Henry Schein, Inc.(b) | 50,942,118 | ||||||
43,900 | HJ Heinz Co. | 3,179,238 | ||||||
150,000 | Hub Group, Inc. - Class A(b) | 5,497,500 | ||||||
710,500 | Hubbell, Inc. - Class B(d) | 68,179,580 | ||||||
249,000 | IDEX Corp. | 12,955,470 | ||||||
21,000 | IHS, Inc. - Class A(b) | 2,046,030 | ||||||
46,000 | Illumina, Inc.(b) | 2,975,740 | ||||||
100,000 | Independent Bank Corp.(d) | 3,104,000 | ||||||
9,600 | Indevus Pharmaceuticals, Inc.(b)(c)(d) | 0 | ||||||
300,000 | Integra LifeScience Holdings Corp.(b)(d) | 10,509,000 | ||||||
9,184 | International Minerals Corp. | 26,892 | ||||||
67,000 | Intuit, Inc. | 3,995,880 | ||||||
225,000 | Jack Henry & Associates, Inc. | 10,440,000 | ||||||
34,081 | Jaguar Mining, Inc.(b) | 15,561 | ||||||
295,000 | John Wiley & Sons, Inc. - Class A | 11,260,150 | ||||||
225,000 | K12, Inc.(b) | 5,730,750 | ||||||
150,000 | Kaydon Corp. | 3,576,000 | ||||||
36,000 | Kellogg Co. | 2,341,440 | ||||||
500,000 | Key Energy Services, Inc.(b) | 2,970,000 | ||||||
180,000 | Kodiak Oil & Gas Corp.(b) | 1,409,400 | ||||||
22,000 | Laboratory Corp. of America Holdings(b) | 2,053,920 | ||||||
150,000 | Lancaster Colony Corp.(d) | 11,839,500 | ||||||
100,000 | Landstar System, Inc. | 5,466,000 | ||||||
36,000 | Life Technologies Corp.(b) | 2,652,840 | ||||||
200,000 | LogMein, Inc.(b) | 4,516,000 | ||||||
213,000 | Lufkin Industries, Inc. | 18,805,770 | ||||||
350,000 | Luminex Corp.(b)(d) | 5,820,500 |
69 |
|
Old Westbury Funds, Inc. | |
Global Small & Mid Cap Fund | |
Portfolio of Investments - (Continued) | April 30, 2013 |
(Unaudited) |
Shares | Value | |||||||
UNITED STATES (continued) | ||||||||
100,000 | MarketAxess Holdings, Inc. | $ | 4,232,000 | |||||
450,000 | Masimo Corp. | 9,027,000 | ||||||
19,000 | Mead Johnson Nutrition Co. | 1,540,710 | ||||||
175,000 | Measurement Specialties, Inc.(b)(d) | 7,484,750 | ||||||
50,000 | Medidata Solutions, Inc.(b) | 3,318,000 | ||||||
76,000 | MICROS Systems, Inc.(b) | 3,223,160 | ||||||
200,000 | Mistras Group, Inc.(b)(d) | 3,790,000 | ||||||
58,000 | Molson Coors Brewing Co. - Class B | 2,992,800 | ||||||
123,000 | Morningstar, Inc.(d) | 8,119,230 | ||||||
677 | Movie Gallery, Inc.(b)(c)(d) | 0 | ||||||
730,400 | MSC Industrial Direct Co., Inc. - Class A | 57,555,520 | ||||||
408,000 | National Instruments Corp. | 11,150,640 | ||||||
125,000 | Navigators Group, Inc. (The)(b)(d) | 7,235,000 | ||||||
2,836,746 | NetApp, Inc.(b) | 98,974,068 | ||||||
350,000 | Northern Oil and Gas, Inc.(b) | 4,511,500 | ||||||
71,000 | Northern Trust Corp. | 3,828,320 | ||||||
450,000 | NuVasive, Inc.(b) | 9,436,500 | ||||||
24,000 | Oil States International, Inc.(b) | 2,144,640 | ||||||
1,828,500 | Omnicom Group, Inc. | 109,289,445 | ||||||
100,000 | Owens & Minor, Inc. | 3,257,000 | ||||||
12,000 | Pall Corp. | 800,520 | ||||||
47,000 | Parker Hannifin Corp. | 4,162,790 | ||||||
31,000 | Pentair, Ltd. | 1,684,850 | ||||||
8,000 | Perrigo Co. | 955,280 | ||||||
16,000 | PetSmart, Inc. | 1,091,840 | ||||||
9,000 | Pioneer Natural Resources Co. | 1,100,070 | ||||||
160,800 | PROS Holdings, Inc.(b) | 4,167,936 | ||||||
156,000 | Prosperity Bancshares, Inc. | 7,166,640 | ||||||
146,000 | Proto Labs, Inc.(b) | 7,457,680 | ||||||
300,000 | QLIK Technologies, Inc.(b) | 7,803,000 | ||||||
370,000 | Quality Systems, Inc. | 6,611,900 | ||||||
61,488 | Ram Power Corp.(b) | 12,207 | ||||||
389,900 | Raven Industries, Inc.(d) | 13,081,145 | ||||||
65,000 | RBC Bearings, Inc.(b) | 3,126,500 | ||||||
450,000 | RealPage, Inc.(b)(d) | 9,180,000 | ||||||
52,000 | Red Hat, Inc.(b) | 2,492,360 | ||||||
650,000 | Resolute Energy Corp.(b)(d) | 5,993,000 | ||||||
88,500 | Samsonite International SA | 217,824 | ||||||
400,000 | Sensient Technologies Corp.(d) | 15,740,000 | ||||||
16,000 | Sigma-Aldrich Corp. | 1,259,040 | ||||||
200,000 | Silgan Holdings, Inc. | 9,574,000 | ||||||
68,557 | Sims Metal Management Ltd. | 686,565 | ||||||
350,000 | Snyders-Lance, Inc.(d) | 8,813,000 | ||||||
50,000 | Solera Holdings, Inc. | 2,879,000 | ||||||
87,000 | St. Jude Medical, Inc. | 3,586,140 | ||||||
250,000 | STERIS Corp. | 10,397,500 | ||||||
65,000 | Strayer Education, Inc. | 3,078,400 | ||||||
25,000 | T Rowe Price Group, Inc. | 1,812,500 | ||||||
100,000 | Techne Corp. | 6,414,000 | ||||||
135,000 | Teleflex, Inc. | 10,547,550 | ||||||
1,175,255 | Tenneco, Inc.(b) | 45,447,111 | ||||||
500,000 | TETRA Technologies, Inc.(b) | 4,565,000 |
Shares | Value | |||||||
UNITED STATES (continued) | ||||||||
82,300 | Thompson Creek Metals Co., Inc.(b) | $ | 245,891 | |||||
124,000 | TIBCO Software, Inc.(b) | 2,406,840 | ||||||
250,000 | TreeHouse Foods, Inc.(b) | 15,927,500 | ||||||
450,000 | Trimas Corp.(b)(d) | 13,725,000 | ||||||
1,349,690 | Tupperware Brands Corp.(d) | 108,380,107 | ||||||
360,000 | UMB Financial Corp.(d) | 18,122,400 | ||||||
39,856 | Ur-Energy, Inc.(b) | 34,023 | ||||||
300,000 | UTi Worldwide, Inc. | 4,407,000 | ||||||
1,570,000 | Varian Medical Systems, Inc.(b) | 102,269,800 | ||||||
300,000 | VCA Antech, Inc.(b) | 7,230,000 | ||||||
26,000 | Verisk Analytics, Inc. - Class A(b) | 1,593,540 | ||||||
300,000 | Volcano Corp.(b) | 6,087,000 | ||||||
17,000 | Waddell & Reed Financial, Inc. - Class A | 728,790 | ||||||
175,000 | Washington Trust Bancorp, Inc.(d) | 4,681,250 | ||||||
500 | WaterFurnace Renewable Energy, Inc. | 7,961 | ||||||
1,131,151 | Waters Corp.(b)(d) | 104,518,352 | ||||||
206,000 | West Pharmaceutical Services, Inc. | 13,155,160 | ||||||
1,450,000 | Western Digital Corp. | 80,156,000 | ||||||
110,000 | WEX, Inc.(b) | 8,335,800 | ||||||
75,000 | Whiting Petroleum Corp.(b) | 3,337,500 | ||||||
325,000 | Wolverine World Wide, Inc. | 15,525,250 | ||||||
150,000 | Woodward, Inc. | 5,398,500 | ||||||
453,471 | Xilinx, Inc. | 17,191,086 | ||||||
28,000 | Zimmer Holdings, Inc. | 2,140,600 | ||||||
2,444,600,692 | ||||||||
Total Common Stocks
(Cost $3,857,862,209) |
5,084,703,910 | |||||||
INVESTMENT COMPANY — 0.5% | ||||||||
29,018,700 |
SEI Daily Income Trust
Government II Fund, Class A, 0.01% (f) |
29,018,700 | ||||||
Total Investment Company
(Cost $29,018,700) |
29,018,700 | |||||||
EXCHANGE TRADED FUNDS — 7.6% | ||||||||
1,915,400 | iShares MSCI EAFE Small Cap Index Fund | 87,208,162 | ||||||
1,772,100 | iShares MSCI Emerging Markets Index Fund | 76,714,209 | ||||||
119,861 | iShares MSCI Japan Small Cap Index Fund | 6,495,268 | ||||||
161,000 | SPDR Russell Nomura Small Cap Japan Fund | 8,351,070 | ||||||
1,770,000 | SPDR S&P Emerging Markets Small Cap Fund | 86,853,900 | ||||||
1,889,800 | SPDR S&P International Small Cap Fund | 59,358,618 | ||||||
400,000 | Vanguard FTSE All World ex-US Small-Cap ETF | 38,712,000 |
70 |
|
Old Westbury Funds, Inc. | |
Global Small & Mid Cap Fund | |
Portfolio of Investments - (Continued) | April 30, 2013 |
(Unaudited) |
Shares | Value | |||||||
400,000 | Vanguard Small-Cap ETF | $ | 36,568,000 | |||||
550,000 | WisdomTree Japan Hedged Equity Fund | 26,158,000 | ||||||
115,000 | WisdomTree Japan Small Cap Dividend Fund | 5,953,550 | ||||||
Total Exchange Traded Funds
(Cost $384,737,775) |
432,372,777 | |||||||
RIGHTS/WARRANTS — 0.0% | ||||||||
Banks — 0.0% | ||||||||
19,500 | Tisco Financial Group Public Co. Ltd. Rights, Expire 6/28/13(b)(d) | 20,596 | ||||||
Consumer Discretionary — 0.0% | ||||||||
1,710 | Centrebet Litigation Rights(b)(c)(d) | 0 | ||||||
1,710 | Centrebet Litigation Units(b)(c)(d) | 0 | ||||||
159,274 | Seat Pagine Gialles SpA Warrants, Expire 9/8/14(b)(d) | 105 | ||||||
105 | ||||||||
Consumer Staples — 0.0% | ||||||||
9,250 | Accell Group NV Coupons, Expire 5/17/13(b)(d) | 0 | ||||||
801 | Africa Israel Investments Ltd. Rights, Expire 5/13/13(b)(d) | 2,640 | ||||||
2,640 | ||||||||
Diversified Financials — 0.0% | ||||||||
13 | K&N Kenanga Holdings Berhad Rights, Expire 12/13/13(b)(c)(d) | 0 | ||||||
Energy — 0.0% | ||||||||
43,424 | Samson Oil & Gas Ltd. Rights, Expire 4/30/13(b)(c)(d) | 0 | ||||||
Health Care — 0.0% | ||||||||
505 | Clal Biotechnology Industries Ltd. Warrants, Expire 8/5/14(b)(c)(d) | 0 | ||||||
43,820 | Faes Farma SA Rights, Expire 5/3/13(b) | 4,790 | ||||||
97 | Green Cross Corp. Rights, Expire 5/30/13(b)(d) | 2,781 | ||||||
177,380 | Hartalega Holdings Berhad Warrants, Expire 5/29/15(b) | 87,451 | ||||||
9,600 | Ligand Pharmaceuticals Contingent Value Rights, Expire 12/23/12(b)(c)(d) | 0 | ||||||
143,310 | Tong Ren Tang Technologies Co. Ltd. - H Shares Rights, Expire 4/30/13(b)(d) | 0 | ||||||
95,022 |
Shares | Value | |||||||
Industrials — 0.0% | ||||||||
47,325 | Aalberts Industries NV Coupons, Expire 5/14/13(b)(d) | 0 | ||||||
212,660 | Dialog Group Berhad Warrants, Expire 2/12/17(b) | 29,706 | ||||||
10,856 | Heijmans NV Coupons, Expire 5/7/13(b)(d) | 0 | ||||||
143,792 | Koninklijke BAM Groep NV Coupons, Expire 5/16/13(b)(d) | 0 | ||||||
14,713 | Koninklijke Ten Cate NV Coupons, Expire 5/13/13(b)(d) | 0 | ||||||
510 | Korea Circuit Co. Ltd. Rights, Expire 5/28/13(b)(d) | 2,664 | ||||||
23,083 | Meyer Burger Technology AG Rights, Expire 5/7/13(b) | 19,364 | ||||||
93,126 | Polimex Mostostal Rights, Expire 10/4/13(b)(d) | 0 | ||||||
100,323 | TNT Express NV Coupons, Expire 5/2/13(b)(d) | 0 | ||||||
51,734 | ||||||||
Information Technology — 0.0% | ||||||||
33,735 | BE Semiconductor Industries NV Coupons, Expire 5/8/13(b)(d) | 0 | ||||||
Materials — 0.0% | ||||||||
1,767 | Duluth Exploration Ltd. Special Warrants, Expire 7/31/13(b)(c)(d) | 789 | ||||||
62,026 | Scana Industrier ASA Rights, Expire 4/24/13(b)(d) | 753 | ||||||
72,500 | Sustainable Forest Holdings Ltd. Rights, Expire 4/25/13(b)(c)(d) | 0 | ||||||
1,542 | ||||||||
Real Estate — 0.0% | ||||||||
192 | Atenor Group SA Coupons, Expire 5/22/13(b)(d) | 0 | ||||||
1,080 | Intervest Offices & Warehouses SA Coupons, Expire 5/21/13(b)(d) | 0 | ||||||
48,475 | Mah Sing Group Berhad Warrants, Expire 3/18/18(b) | 6,453 | ||||||
310,095 | Shui On Land Ltd. Rights, Expire 5/3/13(b) | 32,767 | ||||||
3,065 | Warehouses De Pauw SCA Coupons, Expire 5/21/13(b)(d) | 0 | ||||||
39,220 | ||||||||
Telecommunication Services — 0.0% | ||||||||
5,008 | Loxley Public Co. Ltd. Warrants(b)(d) | 0 | ||||||
Total
Rights/Warrants
(Cost $16,467) |
210,859 |
71 |
|
Old Westbury Funds, Inc. | |
Global Small & Mid Cap Fund | |
Portfolio of Investments - (Continued) | April 30, 2013 |
(Unaudited) |
Shares | ||||||||
CASH SWEEP — 1.0% | ||||||||
58,305,154 | Citibank - US Dollars on Deposit in Custody Account, 0.02%(f) | 58,305,154 | ||||||
Total Cash Sweep
(Cost $58,305,154) |
58,305,154 | |||||||
TOTAL INVESTMENTS — 99.3% | ||||||||
(Cost $4,381,939,774)(a) | 5,656,610,869 | |||||||
OTHER ASSETS IN EXCESS OF LIABILITIES — 0.7% | 41,159,525 | |||||||
NET ASSETS — 100.0% | $ | 5,697,770,394 |
(a) | Cost for federal income tax purposes is $4,387,247,606 and net unrealized appreciation of investments is as follows: |
Unrealized appreciation | $1,412,737,897 |
Unrealized depreciation | (143,374,634) |
Net unrealized appreciation | $1,269,363,263 |
(b) | Non-income producing security. |
(c) | Fair valued security under procedures established by the Fund’s Board of Directors. The aggregate value of fair val- ued securities is $3,167,969, which is 0.06% of net assets and the cost is $4,668,006. |
(d) | This security is considered either fully or partially illiquid. These securities, or portions thereof have a value of $490,675,680 or 8.61% of net assets. |
(e) | Securities incorporated in the same country but traded on different exchanges. |
(f) | Rate shown represents current yield at April 30, 2013. |
(g) | The rate represents the annualized yield at time of purchase. |
ADR — American Depositary Receipt |
BDR — Brazilian Depositary Receipt |
CDI — CHESS Depositary Interests |
CPO — Certificate of Participation-Common |
CVR — Contingent Value Rights |
DVR — Differential Voting Rights |
FOR — Foreign Ownership Restrictions |
NVDR — Non Voting Depositary Receipt |
PDR — Phillippine Depositary Receipt |
REIT — Real Estate Investment Trust |
SDR — Swedish Depositary Receipt |
VVPR — Voter Verified Paper Record |
Portfolio diversification by Sector (Unaudited)
Percentage | ||||||
Sector | of Net Assets | |||||
Banks | 2.2 | % | ||||
Consumer Discretionary | 13.6 | % | ||||
Consumer Staples | 5.7 | % | ||||
Diversified Financials | 1.4 | % | ||||
Energy | 4.6 | % | ||||
Health Care | 13.1 | % | ||||
Industrials | 17.1 | % | ||||
Information Technology | 13.3 | % | ||||
Insurance | 4.0 | % | ||||
Materials | 9.8 | % | ||||
Real Estate | 2.8 | % | ||||
Telecommunication Services | 0.5 | % | ||||
Utilities | 1.1 | % | ||||
Other* | 10.8 | % | ||||
Total | 100.0 | % |
* | Includes cash and equivalents, exchange traded funds, rights/warrants, U.S. government agencies and securities, investment companies, pending trades and Fund share transactions, interest and dividends receivable, prepaids, and accrued expenses payable. |
72 |
|
(b) | Not applicable. |
Item 7. | Disclosure of Proxy Voting Policies and Procedures for Closed-End Management Investment Companies. |
Not applicable. | |
Item 8. | Portfolio Managers of Closed-End Management Investment Companies. |
Not applicable. | |
Item 9. | Purchases of Equity Securities by Closed-End Management Investment Company and Affiliated Purchasers. |
Not applicable. | |
Item 10. | Submission of Matters to a Vote of Security Holders. |
There have been no material changes to the procedures by which the shareholders may recommend nominees to the registrant’s board of directors, where those changes were implemented after the registrant last provided disclosure in response to the requirements of Item 407(c)(2)(iv) of Regulation S-K (17 CFR 229.407) (as required by Item 22(b)(15) of Schedule 14A (17 CFR 240.14a-101)), or this Item.
Item 11. | Controls and Procedures. |
(a) | The registrant’s principal executive and principal financial officers, or persons performing similar functions, have concluded that the registrant’s disclosure controls and procedures (as defined in Rule 30a-3(c) under the Investment Company Act of 1940, as amended (the “1940 Act”) (17 CFR 270.30a-3(c))) are effective, as of a date within 90 days of the filing date of the report that includes the disclosure required by this paragraph, based on their evaluation of these controls and procedures required by Rule 30a-3(b) under the 1940 Act (17 CFR 270.30a-3(b)) and Rules 13a-15(b) or 15d-15(b) under the Securities Exchange Act of 1934, as amended (17 CFR 240.13a-15(b) or 240.15d-15(b)). |
(b) | There were no changes in the registrant’s internal control over financial reporting (as defined in Rule 30a-3(d) under the 1940 Act (17 CFR 270.30a-3(d)) that occurred during the registrant’s second fiscal quarter of the period covered by this report that has materially affected, or is reasonably likely to materially affect, the registrant’s internal control over financial reporting. |
Item 12. | Exhibits. |
(a) | (1) | Not applicable. |
(a) | (2) | Certifications pursuant to Rule 30a-2(a) under the 1940 Act (17 CFR 270.30a-2(a)) are attached hereto. |
(a) | (3) | Not applicable. |
(b) | Certifications pursuant to Rule 30a-2(b) under the 1940 Act (17 CFR 270.30a-2(b)) are attached hereto. |
|
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
(registrant) | Old Westbury Funds, Inc. | |||
By (Signature and Title)* | /s/ David W. Rossmiller | |||
David W. Rossmiller, President | ||||
(Principal Executive Officer) |
Date | 6/24/13 |
Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, this report has been signed below by the following persons on behalf of the registrant and in the capacities and on the dates indicated.
By (Signature and Title)* | /s/ David W. Rossmiller | |||
David W. Rossmiller, President | ||||
(Principal Executive Officer) |
Date | 6/24/13 |
By (Signature and Title)* | /s/ Peter C. Artemiou | |||
Peter C. Artemiou, Treasurer | ||||
(Principal Financial Officer) |
Date | 6/24/13 |
* | Print the name and title of each signing officer under his or her signature. |