Old Westbury Funds NPORTP Old Westbury Municipal Bond Fund (Jul 2024 report)

Old

Westbury

Funds,

Inc.

Municipal

Bond

Fund

Portfolio

Investments

(Continued)

July

31,

2024

(Unaudited)

Old

Westbury

Funds,

Inc.

Municipal

Bond

Fund

Portfolio

Investments

July

31,

2024

(Unaudited)

Principal

Amount

Value

MUNICIPAL

BONDS

—

95.2%

Alabama

—

0.0%

1,500,000

City

Huntsville

Warrants

Refunding

GO,

Series

5.00%,

08/01/26(a)

.........

1,502,383

Arizona

—

0.8%

5,000,000

Arizona

Department

Transportation

State

Highway

Fund

Refunding

Revenue

Bonds,

5.00%,

07/01/32

...........

5,752,593

1,250,000

Arizona

Water

Infrastructure

Finance

Authority

Refunding

Revenue

Bonds,

Series

5.00%,

10/01/26

...........

1,253,510

5,000,000

City

Phoenix

Civic

Improvement

Corp.

Current

Refunding

Revenue

Bonds,

5.00%,

07/01/29

...........

5,355,894

2,005,000

City

Phoenix

School

Improvements

GO,

Series

4.41%,

07/01/28

...........

2,012,233

3,950,000

Salt

River

Project

Agricultural

Improvement

Power

District

Advance

Refunding

Revenue

Bonds,

Series

5.00%,

01/01/33

...........

4,125,318

6,810,000

Salt

River

Project

Agricultural

Improvement

Power

District

Revenue

Bonds,

Series

5.00%,

01/01/43

...........

7,512,954

2,000,000

Salt

River

Project

Agricultural

Improvement

Power

District

Revenue

Bonds,

Series

5.00%,

01/01/43

...........

2,237,080

5,250,000

Town

Gilbert

Public

Improvements

GO,

5.00%,

07/15/25

...........

5,352,093

33,601,675

California

—

6.4%

10,000,000

California

Infrastructure

Economic

Development

Bank

Water

Utility

Improvements

Revenue

Bonds,

5.00%,

10/01/36

...........

11,611,395

4,735,000

City

Los

Angeles

Department

Airports

Airport

Marina

Improvements

Revenue

Bonds,

5.00%,

05/15/32

...........

5,156,184

1,500,000

City

Los

Angeles

Department

Airports

Current

Refunding

Revenue

Bonds,

5.00%,

05/15/26

...........

1,543,988

Principal

Amount

Value

California

(continued)

2,250,000

City

Los

Angeles

Department

Airports

Current

Refunding

Revenue

Bonds,

5.00%,

05/15/27

...........

2,344,685

10,000,000

County

Santa

Clara

GO,

Series

4.30%,

08/01/27

...........

10,029,633

10,000,000

County

Santa

Clara

GO,

Series

4.33%,

08/01/29

...........

10,050,685

6,200,000

Los

Angeles

Community

College

District

University

College

Improvements

GO,

Series

A-2,

5.50%,

08/01/24

...........

6,200,000

4,325,000

Los

Angeles

Department

Water

Power

Water

System

Revenue

Bonds,

Series

5.00%,

07/01/26

...........

4,502,476

5,000,000

Los

Angeles

Department

Water

Power

Water

System

Revenue

Bonds,

Series

5.00%,

07/01/27

...........

5,328,533

5,000,000

Los

Angeles

Department

Water

Power

Water

System

Revenue

Bonds,

Series

5.00%,

07/01/36

...........

5,928,982

6,850,000

San

Bernardino

Community

College

District

Advance

Refunding

GO,

1.61%,

08/01/27

...........

6,337,649

18,115,000

San

Francisco

City

County

Airport

Comm-San

Francisco

International

Airport

Refunding

Revenue

Bonds,

Series

5.00%,

05/01/30

...........

19,498,345

11,000,000

San

Francisco

City

County

Public

Utilities

Commission

Wastewater

Revenue

Bonds,

Series

4.66%,

10/01/27

...........

11,054,168

4,415,000

State

California

Current

Refunding

GO,

5.00%,

10/01/25

...........

4,523,743

14,000,000

State

California

Current

Refunding

GO,

5.00%,

12/01/25

...........

14,394,723

10,000,000

State

California

Current

Refunding

GO,

5.00%,

12/01/27

...........

10,693,440

10,000,000

State

California

Current

Refunding

GO,

5.00%,

10/01/37

...........

11,268,110

9,500,000

State

California

Current

Refunding

GO,

5.00%,

04/01/27

...........

10,026,348

Old

Westbury

Funds,

Inc.

Municipal

Bond

Fund

Portfolio

Investments

(Continued)

July

31,

2024

(Unaudited)

Principal

Amount

Value

California

(continued)

15,000,000

State

California

Current

Refunding

GO,

(AGM),

5.25%,

08/01/32

...........

17,280,542

11,250,000

State

California

Public

Improvements

GO,

5.00%,

09/01/25

...........

11,507,250

8,500,000

State

California

Public

Improvements

GO,

5.00%,

09/01/26

...........

8,867,289

5,000,000

State

California

Public

Improvements

GO,

5.00%,

09/01/31

...........

5,695,955

3,000,000

State

California

Public

Improvements

GO,

5.00%,

03/01/26

...........

3,033,222

5,715,000

State

California

Public

Improvements

GO,

5.00%,

10/01/27

...........

5,915,553

8,000,000

State

California

Refunding

GO,

5.00%,

10/01/25

...........

8,023,769

10,000,000

State

California

School

Improvements

GO,

1.75%,

11/01/30

...........

8,575,809

15,000,000

State

California

Water

Utility

Improvements

GO,

5.00%,

09/01/25

...........

15,343,001

15,000,000

State

California

Water

Utility

Improvements

GO,

5.00%,

09/01/26

...........

15,648,158

4,100,000

State

California

Water

Utility

Improvements

GO,

5.00%,

09/01/27

...........

4,363,552

10,000,000

University

California

University

College

Improvements

Revenue

Bonds,

Series

BK,

5.00%,

05/15/32

...........

11,561,702

266,308,889

Colorado

—

1.3%

3,225,000

Adams

Arapahoe

Joint

School

District

28J

Aurora

Current

Refunding

GO,

(State

Aid

Withholding),

5.00%,

12/01/24

...........

3,245,327

11,590,000

City

County

Denver

Co.

Airport

System

Revenue

Bonds,

Series

5.00%,

11/15/27

...........

12,121,783

6,175,000

City

County

Denver

Co.

Airport

System

Revenue

Bonds,

Series

5.00%,

11/15/36

...........

6,729,934

Principal

Amount

Value

Colorado

(continued)

11,220,000

City

County

Denver

Co.

Airport

System

Revenue

Bonds,

Series

5.00%,

12/01/28

...........

11,888,854

10,000,000

City

County

Denver

Co.

Airport

System

Revenue

Bonds,

Series

5.00%,

12/01/32

...........

10,476,235

2,225,000

City

County

Denver

Co.

Airport

System

Revenue

Bonds,

Series

5.00%,

11/15/27

...........

2,369,826

1,000,000

Colorado

Health

Facilities

Authority

Current

Refunding

Revenue

Bonds,

Series

5.00%,

11/15/39

...........

1,129,669

3,500,000

Colorado

Health

Facilities

Authority

Health

Care

Facilities

Revenue

Bonds,

Series

5.00%,

05/15/37

...........

3,912,814

2,060,000

Colorado

Higher

Education

Refunding

COP,

Series

5.00%,

11/01/24

...........

2,069,802

53,944,244

Connecticut

—

3.0%

5,000,000

Connecticut

State

Health

Educational

Facilities

Authority

University

College

Improvements

Revenue

Bonds,

Series

C-1,

5.00%,

07/01/40(b)

.........

5,362,230

11,200,000

Connecticut

State

Health

Educational

Facilities

Authority

University

College

Improvements

Revenue

Bonds,

Series

5.00%,

07/01/27

...........

11,896,447

11,000,000

Connecticut

State

Health

Educational

Facilities

Authority

University

College

Improvements

Revenue

Bonds,

Series

X-2,

5.00%,

07/01/37(c)

.........

12,972,852

1,000,000

Metropolitan

District

Refunding

Notes

GO,

5.00%,

03/01/25

...........

1,001,647

5,860,000

Metropolitan

District

Refunding

Notes

GO,

Series

(AGM),

5.00%,

11/01/25

...........

6,006,730

7,000,000

State

Connecticut

Current

Refunding

GO,

Series

5.00%,

08/01/24

...........

7,000,000

Old

Westbury

Funds,

Inc.

Municipal

Bond

Fund

Portfolio

Investments

(Continued)

July

31,

2024

(Unaudited)

Principal

Amount

Value

Connecticut

(continued)

2,000,000

State

Connecticut

Current

Refunding

GO,

Series

5.00%,

09/15/24

...........

2,004,768

10,000,000

State

Connecticut

GO,

Series

5.50%,

05/01/25

...........

10,023,837

4,715,000

State

Connecticut

GO,

Series

5.38%,

05/01/27

...........

4,816,346

2,160,000

State

Connecticut

GO,

Series

4.88%,

05/01/34

...........

2,180,081

6,295,000

State

Connecticut

GO,

Series

5.00%,

07/15/26

...........

6,552,355

9,345,000

State

Connecticut

Public

Improvements

GO,

Series

5.00%,

01/15/26

...........

9,622,694

6,000,000

State

Connecticut

Public

Improvements

GO,

Series

3.85%,

09/15/27

...........

5,890,043

6,775,000

State

Connecticut

Special

Tax

Current

Refunding

Revenue

Bonds,

Series

5.00%,

07/01/30

...........

7,554,639

10,000,000

State

Connecticut

Special

Tax

Highway

Improvements

Revenue

Bonds,

Series

5.00%,

01/01/35

...........

10,591,778

11,400,000

State

Connecticut

Special

Tax

Revenue

Bonds,

Series

5.00%,

10/01/35

...........

12,158,271

1,900,000

State

Connecticut

Transportation

Infrastructure

Refunding

Revenue

Bonds,

5.00%,

09/01/24

...........

1,902,818

5,000,000

State

Connecticut

Transportation

Infrastructure

Revenue

Bonds,

Series

5.00%,

09/01/27

...........

5,006,182

122,543,718

Delaware

—

2.3%

2,000,000

Delaware

River

Bay

Authority

Current

Refunding

Revenue

Bonds,

Series

5.00%,

01/01/25

...........

2,015,952

1,665,000

Delaware

River

Bay

Authority

Current

Refunding

Revenue

Bonds,

Series

5.00%,

01/01/26

...........

1,712,650

10,000,000

Delaware

State

Health

Facilities

Authority

Current

Refunding

Revenue

Bonds,

5.00%,

10/01/45

...........

10,411,248

Principal

Amount

Value

Delaware

(continued)

9,430,000

Delaware

Transportation

Authority

Current

Refunding

Revenue

Bonds,

5.00%,

07/01/28

...........

10,183,946

6,780,000

Delaware

Transportation

Authority

Public

Improvements

Revenue

Bonds,

5.00%,

07/01/27

...........

7,188,037

2,240,000

Delaware

Transportation

Authority

Public

Improvements

Revenue

Bonds,

5.00%,

07/01/35

...........

2,566,646

7,895,000

State

Delaware

Current

Refunding

GO,

5.00%,

02/01/31

...........

8,933,537

7,705,000

State

Delaware

Current

Refunding

GO,

Series

5.00%,

10/01/27

...........

8,225,031

3,620,000

State

Delaware

Current

Refunding

GO,

Series

5.00%,

07/01/26

...........

3,767,713

10,800,000

State

Delaware

Public

Facilities

GO,

5.00%,

02/01/25

...........

10,913,279

9,650,000

State

Delaware

Public

Facilities

GO,

5.00%,

02/01/26

...........

9,957,259

9,005,000

State

Delaware

Public

Improvements

GO,

Series

5.00%,

05/01/26

...........

9,339,827

7,500,000

State

Delaware

Public

Improvements

GO,

Series

5.00%,

05/01/37

...........

8,826,996

94,042,121

District

Columbia

—

2.4%

3,660,000

District

Columbia

Current

Refunding

Revenue

Bonds,

Series

5.00%,

12/01/26

...........

3,834,960

8,800,000

District

Columbia

Income

Tax

Public

Improvements

Revenue

Bonds,

Series

5.00%,

03/01/26

...........

9,088,534

3,500,000

District

Columbia

Income

Tax

Public

Improvements

Revenue

Bonds,

Series

5.00%,

10/01/27

...........

3,728,554

4,280,000

District

Columbia

Income

Tax

Revenue

Bonds,

Series

5.00%,

05/01/43

...........

4,763,352

Old

Westbury

Funds,

Inc.

Municipal

Bond

Fund

Portfolio

Investments

(Continued)

July

31,

2024

(Unaudited)

Principal

Amount

Value

District

Columbia

(continued)

5,000,000

District

Columbia

Income

Tax

Transit

Improvements

Revenue

Bonds,

Series

5.00%,

07/01/34

...........

5,728,857

4,500,000

District

Columbia

Income

Tax

Transit

Improvements

Revenue

Bonds,

Series

5.00%,

07/01/36

...........

5,125,620

10,000,000

District

Columbia

Income

Tax

Transit

Improvements

Revenue

Bonds,

Series

5.00%,

07/01/47

...........

10,911,392

7,185,000

District

Columbia

Income

Tax

Transit

Improvements

Revenue

Bonds,

Series

3.81%,

07/01/30

...........

6,994,269

6,000,000

District

Columbia

Income

Tax

Transit

Improvements

Revenue

Bonds,

Series

3.86%,

07/01/31

...........

5,809,886

2,000,000

District

Columbia

Water

Sewer

Authority

Cash

Flow

Management

Revenue

Bonds,

Series

5.00%,

10/01/26

...........

2,088,601

2,565,000

District

Columbia

Water

Sewer

Authority

Cash

Flow

Management

Revenue

Bonds,

Series

5.00%,

10/01/34

...........

3,031,596

5,000,000

Metropolitan

Washington

Airports

Authority

Aviation

Current

Refunding

Revenue

Bonds,

5.00%,

10/01/25

...........

5,091,360

8,875,000

Metropolitan

Washington

Airports

Authority

Aviation

Current

Refunding

Revenue

Bonds,

Series

5.00%,

10/01/24

...........

8,896,438

2,850,000

Metropolitan

Washington

Airports

Authority

Aviation

Revenue

Bonds,

Series

5.00%,

10/01/26

...........

2,944,543

3,000,000

Metropolitan

Washington

Airports

Authority

Aviation

Revenue

Bonds,

Series

5.00%,

10/01/27

...........

3,132,677

3,500,000

Metropolitan

Washington

Airports

Authority

Aviation

Revenue

Bonds,

Series

5.00%,

10/01/28

...........

3,700,798

Principal

Amount

Value

District

Columbia

(continued)

2,500,000

Metropolitan

Washington

Airports

Authority

Aviation

Revenue

Bonds,

Series

5.00%,

10/01/29

...........

2,666,621

2,500,000

Metropolitan

Washington

Airports

Authority

Aviation

Revenue

Bonds,

Series

5.00%,

10/01/30

...........

2,695,628

10,000,000

Metropolitan

Washington

Airports

Authority

Aviation

Revenue

Bonds,

Series

5.00%,

10/01/31

...........

10,888,542

101,122,228

Florida

—

1.4%

5,650,000

State

Florida

Department

Transportation

Turnpike

System

Current

Refunding

Revenue

Bonds,

Series

5.00%,

07/01/34

...........

6,525,983

6,545,000

State

Florida

Department

Transportation

Turnpike

System

Current

Refunding

Revenue

Bonds,

Series

5.00%,

07/01/37

...........

7,503,844

2,545,000

State

Florida

Department

Transportation

Turnpike

System

Revenue

Bonds,

Series

5.00%,

07/01/25

...........

2,590,332

2,670,000

State

Florida

Department

Transportation

Turnpike

System

Revenue

Bonds,

Series

5.00%,

07/01/26

...........

2,771,848

2,805,000

State

Florida

Department

Transportation

Turnpike

System

Revenue

Bonds,

Series

5.00%,

07/01/27

...........

2,971,299

2,945,000

State

Florida

Department

Transportation

Turnpike

System

Revenue

Bonds,

Series

5.00%,

07/01/28

...........

3,176,935

7,425,000

State

Florida

Department

Transportation

Turnpike

System

Revenue

Bonds,

Series

5.00%,

07/01/36

...........

8,656,422

7,795,000

State

Florida

Department

Transportation

Turnpike

System

Revenue

Bonds,

Series

5.00%,

07/01/37

...........

9,090,018

Old

Westbury

Funds,

Inc.

Municipal

Bond

Fund

Portfolio

Investments

(Continued)

July

31,

2024

(Unaudited)

Principal

Amount

Value

Florida

(continued)

8,185,000

State

Florida

Department

Transportation

Turnpike

System

Revenue

Bonds,

Series

5.00%,

07/01/38

...........

9,504,307

4,720,000

State

Florida

Lottery

Current

Refunding

Revenue

Bonds,

Series

5.00%,

07/01/27

...........

4,988,978

57,779,966

Georgia

—

1.4%

18,480,000

Brookhaven

Development

Authority

Revenue

Bonds,

Series

4.00%,

07/01/44

...........

18,296,148

9,280,000

City

Atlanta

Airport

Passenger

Facility

Charge

Airport

Marina

Improvements

Revenue

Bonds,

Sub-Series

5.00%,

07/01/34

...........

10,130,611

12,890,000

City

Atlanta

Airport

Passenger

Facility

Charge

Airport

Marina

Improvements

Revenue

Bonds,

Sub-Series

5.00%,

07/01/35

...........

14,047,112

5,500,000

City

Atlanta

Department

Aviation

Current

Refunding

Revenue

Bonds,

Series

5.00%,

07/01/27

...........

5,742,722

10,000,000

State

Georgia

Current

Refunding

GO,

Series

5.00%,

01/01/31

...........

11,300,171

59,516,764

Hawaii

—

2.3%

10,000,000

City

County

Honolulu

Transit

Improvements

GO,

Series

5.00%,

03/01/29

...........

10,908,939

2,000,000

State

Hawaii

Airports

System

Current

Refunding

Revenue

Bonds,

Series

1.71%,

07/01/26

...........

1,894,597

10,000,000

State

Hawaii

Airports

System

Refunding

Revenue

Bonds,

Series

5.00%,

07/01/33

...........

11,053,244

6,015,000

State

Hawaii

Airports

System

Revenue

Bonds,

Series

5.00%,

07/01/34

...........

6,408,616

10,350,000

State

Hawaii

Airports

System

Revenue

Bonds,

Series

5.00%,

07/01/31

...........

11,127,360

Principal

Amount

Value

Hawaii

(continued)

6,235,000

State

Hawaii

Airports

System

Revenue

Bonds,

Series

5.00%,

07/01/32

...........

6,678,265

4,165,000

State

Hawaii

Harbor

System

Revenue

Bonds,

Series

5.00%,

07/01/27

...........

4,337,174

7,330,000

State

Hawaii

Harbor

System

Revenue

Bonds,

Series

5.00%,

07/01/28

...........

7,707,150

3,000,000

State

Hawaii

Public

Facilities

GO,

Series

GK,

4.93%,

10/01/28

...........

3,082,584

20,000,000

State

Hawaii

Public

Facilities

GO,

Series

GK,

5.06%,

10/01/29

...........

20,780,732

5,000,000

State

Hawaii

Public

Facilities

GO,

Series

GK,

5.13%,

10/01/30

...........

5,235,369

4,360,000

State

Hawaii

Public

Facilities

GO,

Series

GK,

5.15%,

10/01/31

...........

4,578,818

2,000,000

State

Hawaii

Public

Facilities

GO,

Series

GK,

5.20%,

10/01/32

...........

2,108,785

95,901,633

Idaho

—

0.2%

2,000,000

Idaho

Housing

Finance

Association

Highway

Improvements

Revenue

Bonds,

Series

5.00%,

08/15/25

...........

2,042,256

3,600,000

Idaho

Housing

Finance

Association

Highway

Improvements

Revenue

Bonds,

Series

5.00%,

08/15/35

...........

4,225,240

1,500,000

Idaho

Housing

Finance

Association

Highway

Improvements

Revenue

Bonds,

Series

5.00%,

08/15/37

...........

1,749,954

1,250,000

Idaho

Housing

Finance

Association

Highway

Improvements

Revenue

Bonds,

Series

5.00%,

08/15/38

...........

1,431,991

9,449,441

Illinois

—

0.2%

3,000,000

Illinois

State

Toll

Highway

Authority

Highway

Improvements

Revenue

Bonds,

Series

5.00%,

01/01/41

...........

3,370,648

Old

Westbury

Funds,

Inc.

Municipal

Bond

Fund

Portfolio

Investments

(Continued)

July

31,

2024

(Unaudited)

Principal

Amount

Value

Illinois

(continued)

5,000,000

Metropolitan

Water

Reclamation

District

Greater

Chicago

Advance

Refunding

GO,

Series

2.53%,

12/01/32

...........

4,280,902

7,651,550

Indiana

—

0.1%

5,145,000

Indiana

University

College

Improvements

Revenue

Bonds,

Series

5.00%,

06/01/34

...........

6,032,098

Iowa

—

0.6%

2,250,000

Iowa

Finance

Authority

Green

Purpose

Revenue

Bonds,

Series

5.00%,

08/01/25

...........

2,294,652

2,075,000

Iowa

Finance

Authority

Green

Purpose

Revenue

Bonds,

Series

5.00%,

08/01/26

...........

2,161,820

3,185,000

Iowa

Finance

Authority

Green

Purpose

Revenue

Bonds,

Series

5.00%,

08/01/31

...........

3,614,806

16,125,000

Iowa

Finance

Authority

Water

Utility

Improvements

Revenue

Bonds,

Series

5.00%,

08/01/34

...........

19,019,717

27,090,995

Maryland

—

5.5%

5,735,000

County

Anne

Arundel

School

Improvements

GO,

5.00%,

04/01/27

...........

5,805,846

9,715,000

County

Baltimore

Current

Refunding

GO,

5.00%,

02/01/25

...........

9,815,341

10,975,000

County

Baltimore

Current

Refunding

GO,

5.00%,

02/01/26

...........

11,322,453

5,685,000

County

Baltimore

Current

Refunding

GO,

5.00%,

02/01/29

...........

6,223,417

12,695,000

County

Baltimore

Current

Refunding

GO,

5.00%,

02/01/29

...........

13,897,322

5,000,000

County

Baltimore

Public

Improvements

COP,

5.00%,

03/01/27

...........

5,261,514

9,825,000

County

Howard

Advance

Refunding

GO,

Series

5.00%,

02/15/27

...........

10,350,241

Principal

Amount

Value

Maryland

(continued)

13,515,000

County

Montgomery

Refunding

GO,

Series

5.00%,

08/01/24

...........

13,515,000

13,915,000

County

Montgomery

Refunding

GO,

Series

5.00%,

08/01/36

...........

15,695,999

1,655,000

County

Prince

George's

Public

Improvements

GO,

Series

5.00%,

08/01/25

...........

1,689,452

5,910,000

County

Prince

George's

Public

Improvements

GO,

Series

5.00%,

08/01/26

...........

6,155,852

7,810,000

County

Prince

George's

Public

Improvements

GO,

Series

5.00%,

08/01/29

...........

8,621,842

3,185,000

County

Prince

George's

Public

School

Improvements

GO,

Series

5.00%,

09/15/25

...........

3,259,385

15,000,000

County

Prince

George's

School

Improvements

GO,

Series

5.00%,

08/01/24

...........

15,000,000

10,000,000

County

Prince

George's

School

Improvements

GO,

Series

5.00%,

07/01/30

...........

11,209,766

15,000,000

County

Prince

George's

School

Improvements

GO,

Series

5.00%,

07/01/31

...........

17,085,537

10,000,000

State

Maryland

Department

Transportation

Transit

Improvements

Revenue

Bonds,

5.00%,

11/01/26

...........

10,041,604

6,070,000

State

Maryland

Public

Facilities

GO,

Series

5.00%,

08/01/34

...........

6,883,407

11,000,000

State

Maryland

School

Improvements

GO,

Series

5.00%,

06/01/27

...........

11,658,058

20,000,000

State

Maryland

School

Improvements

GO,

Series

5.00%,

06/01/28

...........

21,604,316

4,855,000

State

Maryland

School

Improvements

GO,

Series

5.00%,

03/15/31

...........

5,387,122

15,000,000

State

Maryland

School

Improvements

GO,

Series

5.00%,

06/01/36

...........

17,066,387

227,549,861

Old

Westbury

Funds,

Inc.

Municipal

Bond

Fund

Portfolio

Investments

(Continued)

July

31,

2024

(Unaudited)

Principal

Amount

Value

Massachusetts

—

5.4%

3,900,000

City

Boston

Public

Improvements

GO,

Series

5.00%,

11/01/31

...........

4,519,883

3,670,000

City

Cambridge

School

Improvements

GO,

5.00%,

02/15/25

...........

3,714,209

2,270,000

City

Lowell

School

Improvements

GO,

(State

Aid

Withholding),

5.00%,

09/01/36

...........

2,619,564

1,800,000

City

Lowell

School

Improvements

GO,

(State

Aid

Withholding),

5.00%,

09/01/38

...........

2,063,741

13,025,000

Commonwealth

Massachusetts

Advance

Refunding

GO,

Series

5.00%,

07/01/31

...........

13,462,692

9,330,000

Commonwealth

Massachusetts

Advance

Refunding

GO,

Series

5.00%,

10/01/26

...........

9,761,357

10,000,000

Commonwealth

Massachusetts

Current

Refunding

GO,

Series

5.00%,

10/01/29

...........

11,059,871

10,000,000

Commonwealth

Massachusetts

Current

Refunding

GO,

Series

5.00%,

10/01/30

...........

11,242,612

10,000,000

Commonwealth

Massachusetts

Current

Refunding

GO,

Series

5.00%,

10/01/31

...........

11,405,048

10,000,000

Commonwealth

Massachusetts

Public

Improvements

GO,

Series

5.00%,

10/01/32

...........

11,569,754

2,000,000

Commonwealth

Massachusetts

Public

Improvements

GO,

Series

5.00%,

07/01/32

...........

2,029,665

11,000,000

Commonwealth

Massachusetts

Transit

Improvements

GO,

Series

5.00%,

02/01/32

...........

12,607,047

9,000,000

Massachusetts

Bay

Transportation

Authority

Sales

Tax

Revenue

Bonds,

Subseries

A-1,

5.00%,

07/01/43

...........

10,017,172

3,500,000

Massachusetts

Clean

Water

Trust

Current

Refunding

Revenue

Bonds,

5.00%,

02/01/25

...........

3,537,408

Principal

Amount

Value

Massachusetts

(continued)

2,000,000

Massachusetts

Clean

Water

Trust

Current

Refunding

Revenue

Bonds,

5.00%,

02/01/26

...........

2,065,768

3,500,000

Massachusetts

Clean

Water

Trust

Current

Refunding

Revenue

Bonds,

5.00%,

02/01/27

...........

3,692,568

2,500,000

Massachusetts

Clean

Water

Trust

Current

Refunding

Revenue

Bonds,

5.00%,

02/01/28

...........

2,692,913

2,160,000

Massachusetts

Clean

Water

Trust

Current

Refunding

Revenue

Bonds,

5.00%,

02/01/29

...........

2,372,907

2,000,000

Massachusetts

Clean

Water

Trust

Current

Refunding

Revenue

Bonds,

5.00%,

02/01/30

...........

2,238,217

2,750,000

Massachusetts

Clean

Water

Trust

Current

Refunding

Revenue

Bonds,

5.00%,

02/01/31

...........

3,130,660

2,500,000

Massachusetts

Clean

Water

Trust

Current

Refunding

Revenue

Bonds,

5.00%,

02/01/32

...........

2,884,938

1,750,000

Massachusetts

Clean

Water

Trust

Green

Revenue

Bonds,

5.00%,

02/01/29

...........

1,922,494

2,000,000

Massachusetts

Clean

Water

Trust

Green

Revenue

Bonds,

5.00%,

02/01/30

...........

2,238,217

3,500,000

Massachusetts

Clean

Water

Trust

Green

Revenue

Bonds,

5.00%,

02/01/33

...........

4,094,049

1,000,000

Massachusetts

Clean

Water

Trust

Green

Revenue

Bonds,

5.00%,

02/01/41

...........

1,119,545

2,000,000

Massachusetts

Clean

Water

Trust

Water

Utility

Improvements

Revenue

Bonds,

5.00%,

02/01/41

...........

2,239,090

4,900,000

Massachusetts

Clean

Water

Trust

Water

Utility

Improvements

Revenue

Bonds,

5.00%,

02/01/42

...........

5,466,628

Old

Westbury

Funds,

Inc.

Municipal

Bond

Fund

Portfolio

Investments

(Continued)

July

31,

2024

(Unaudited)

Principal

Amount

Value

Massachusetts

(continued)

4,000,000

Massachusetts

Clean

Water

Trust

Water

Utility

Improvements

Revenue

Bonds,

5.00%,

02/01/43

...........

4,445,090

10,000,000

Massachusetts

Development

Finance

Agency

Advance

Refunding

Revenue

Bonds,

Series

5.00%,

10/15/27

...........

10,682,775

10,000,000

Massachusetts

Development

Finance

Agency

Health

Care

Facilities

Revenue

Bonds,

Series

5.00%,

07/01/47

...........

10,879,208

15,000,000

Massachusetts

Development

Finance

Agency

Health

Care

Facilities

Revenue

Bonds,

Series

5.00%,

03/01/34

...........

17,437,656

7,500,000

Massachusetts

Development

Finance

Agency

Refunding

Revenue

Bonds,

Series

5.00%,

02/15/33

...........

8,735,276

7,500,000

Massachusetts

Development

Finance

Agency

Refunding

Revenue

Bonds,

Series

5.00%,

02/15/34

...........

8,857,339

525,000

Massachusetts

Health

Educational

Facilities

Authority

Current

Refunding

Revenue

Bonds,

Series

5.00%,

11/01/24

...........

527,760

5,000,000

Massachusetts

Port

Authority

Airport

Marina

Improvements

Revenue

Bonds,

Series

5.00%,

07/01/33

...........

5,521,464

2,500,000

Massachusetts

Water

Resources

Authority

Cash

Flow

Management

Revenue

Bonds,

Series

5.00%,

08/01/27

...........

2,655,536

2,160,000

Massachusetts

Water

Resources

Authority

Cash

Flow

Management

Revenue

Bonds,

Series

5.00%,

08/01/29

...........

2,381,012

5,715,000

Massachusetts

Water

Resources

Authority

Cash

Flow

Management

Revenue

Bonds,

Series

5.00%,

08/01/37

...........

6,729,543

224,620,676

Principal

Amount

Value

Michigan

—

0.4%

5,110,000

Michigan

State

University

College

Improvements

Revenue

Bonds,

Series

5.00%,

08/15/32

...........

5,869,761

2,500,000

Michigan

State

University

Current

Refunding

Revenue

Bonds,

Series

RE,

5.00%,

08/15/24

...........

2,501,873

6,270,000

State

Michigan

Trunk

Line

Revenue

Bonds,

5.00%,

11/15/36

...........

7,221,120

15,592,754

Minnesota

—

0.9%

2,500,000

Osseo

Independent

School

District

279

School

Improvements

GO,

Series

(School

District

Credit

Program),

5.00%,

02/01/25

...........

2,525,199

5,000,000

Osseo

Independent

School

District

279

School

Improvements

GO,

Series

(School

District

Credit

Program),

5.00%,

02/01/26

...........

5,155,315

7,300,000

Rosemount-Apple

Valley-Eagan

Independent

School

District

196

School

Improvements

GO,

Series

(School

District

Credit

Program),

5.00%,

02/01/26

...........

7,526,760

2,910,000

State

Minnesota

Public

Improvements

COP,

5.00%,

06/01/26

...........

2,918,417

10,000,000

State

Minnesota

School

Improvements

GO,

Series

5.00%,

09/01/25

...........

10,223,516

7,360,000

State

Minnesota

School

Improvements

GO,

Series

Group

5.00%,

08/01/38

...........

8,347,288

36,696,495

Missouri

—

0.3%

10,245,000

Health

Educational

Facilities

Authority

the

State

Missouri

Health

Care

Facilities

Revenue

Bonds,

Series

5.00%,

05/01/33

...........

11,746,266

Old

Westbury

Funds,

Inc.

Municipal

Bond

Fund

Portfolio

Investments

(Continued)

July

31,

2024

(Unaudited)

Principal

Amount

Value

Nebraska

—

0.1%

2,345,000

Metropolitan

Utilities

District

Omaha

Water

System

Revenue

Bonds,

5.00%,

12/01/27

...........

2,498,200

2,850,000

Metropolitan

Utilities

District

Omaha

Water

System

Revenue

Bonds,

5.00%,

12/01/31

...........

3,227,898

5,726,098

Nevada

—

0.6%

20,915,000

State

Nevada

Public

Improvements

GO,

Series

5.00%,

05/01/36

...........

24,219,854

New

Jersey

—

4.9%

7,500,000

Middlesex

County

Improvement

Authority

University

College

Improvements

Revenue

Bonds,

5.00%,

08/15/53

...........

8,178,806

1,650,000

New

Jersey

Economic

Development

Authority

Revenue

Bonds,

Series

5.00%,

11/01/24

...........

1,657,303

1,815,000

New

Jersey

Educational

Facilities

Authority

Advance

Refunding

Revenue

Bonds,

Series

5.00%,

07/01/34

...........

1,913,794

6,535,000

New

Jersey

Educational

Facilities

Authority

Current

Refunding

Revenue

Bonds,

Series

5.00%,

03/01/25

...........

6,613,747

5,000,000

New

Jersey

Educational

Facilities

Authority

Current

Refunding

Revenue

Bonds,

Series

5.00%,

03/01/26

...........

5,168,657

6,665,000

New

Jersey

Educational

Facilities

Authority

Current

Refunding

Revenue

Bonds,

Series

5.00%,

03/01/27

...........

7,030,708

4,000,000

New

Jersey

Educational

Facilities

Authority

Current

Refunding

Revenue

Bonds,

Series

5.00%,

03/01/28

...........

4,304,525

10,000,000

New

Jersey

Educational

Facilities

Authority

University

College

Improvements

Revenue

Bonds,

Series

5.00%,

03/01/27

...........

10,548,699

Principal

Amount

Value

New

Jersey

(continued)

10,000,000

New

Jersey

Educational

Facilities

Authority

University

College

Improvements

Revenue

Bonds,

Series

5.00%,

03/01/32

...........

11,525,897

10,000,000

New

Jersey

Educational

Facilities

Authority

University

College

Improvements

Revenue

Bonds,

Series

A1,

5.00%,

03/01/30

...........

11,158,594

18,800,000

New

Jersey

Educational

Facilities

Authority

University

College

Improvements

Revenue

Bonds,

Series

A1,

5.00%,

03/01/36

...........

22,068,136

10,000,000

New

Jersey

Health

Care

Facilities

Financing

Authority

Current

Refunding

Revenue

Bonds,

Series

5.00%,

07/01/34

...........

11,692,612

5,000,000

New

Jersey

Health

Care

Facilities

Financing

Authority

Health

Care

Facilities

Revenue

Bonds,

Series

5.00%,

07/01/40

...........

5,639,748

10,000,000

New

Jersey

Infrastructure

Bank

Green

Purpose

Revenue

Bonds,

Series

A-2,

5.00%,

09/01/47

...........

11,040,158

3,210,000

New

Jersey

Transportation

Trust

Fund

Authority

Highway

Improvements

Revenue

Bonds,

Series

BB,

5.00%,

06/15/31

...........

3,578,480

7,250,000

New

Jersey

Transportation

Trust

Fund

Authority

Highway

Improvements

Revenue

Bonds,

Series

BB,

5.00%,

06/15/32

...........

8,105,997

5,000,000

New

Jersey

Transportation

Trust

Fund

Authority

Highway

Improvements

Revenue

Bonds,

Series

BB,

5.00%,

06/15/33

...........

5,572,675

9,000,000

New

Jersey

Turnpike

Authority

Advance

Refunding

Revenue

Bonds,

Series

1.28%,

01/01/27

...........

8,333,574

Old

Westbury

Funds,

Inc.

Municipal

Bond

Fund

Portfolio

Investments

(Continued)

July

31,

2024

(Unaudited)

Principal

Amount

Value

New

Jersey

(continued)

1,000,000

New

Jersey

Turnpike

Authority

Advance

Refunding

Revenue

Bonds,

Series

5.00%,

01/01/27

...........

1,048,831

5,500,000

New

Jersey

Turnpike

Authority

Advance

Refunding

Revenue

Bonds,

Series

1.81%,

01/01/30

...........

4,819,743

4,250,000

New

Jersey

Turnpike

Authority

Advance

Refunding

Revenue

Bonds,

Series

5.00%,

01/01/32

...........

4,498,111

3,755,000

New

Jersey

Turnpike

Authority

Current

Refunding

Revenue

Bonds,

Series

5.00%,

01/01/29

...........

4,082,586

3,400,000

New

Jersey

Turnpike

Authority

Current

Refunding

Revenue

Bonds,

Series

5.00%,

01/01/30

...........

3,756,150

2,775,000

New

Jersey

Turnpike

Authority

Highway

Improvements

Revenue

Bonds,

Series

5.00%,

01/01/27

...........

2,910,507

2,500,000

New

Jersey

Turnpike

Authority

Highway

Improvements

Revenue

Bonds,

Series

5.00%,

01/01/29

...........

2,619,889

4,000,000

New

Jersey

Turnpike

Authority

Highway

Improvements

Revenue

Bonds,

Series

5.00%,

01/01/34

...........

4,165,980

3,750,000

New

Jersey

Turnpike

Authority

Highway

Improvements

Revenue

Bonds,

Series

5.00%,

01/01/42

...........

4,155,201

5,000,000

New

Jersey

Turnpike

Authority

Highway

Improvements

Revenue

Bonds,

Series

5.00%,

01/01/44

...........

5,545,756

12,000,000

New

Jersey

Turnpike

Authority

Highway

Improvements

Revenue

Bonds,

Series

5.00%,

01/01/46

...........

13,106,521

3,250,000

New

Jersey

Turnpike

Authority

Highway

Improvements

Revenue

Bonds,

Series

5.00%,

01/01/32

...........

3,271,086

Principal

Amount

Value

New

Jersey

(continued)

3,000,000

New

Jersey

Turnpike

Authority

Highway

Improvements

Revenue

Bonds,

Series

5.00%,

01/01/33

...........

3,019,464

2,000,000

Rutgers

The

State

University

New

Jersey

Advance

Refunding

Revenue

Bonds,

Series

1.66%,

05/01/28

...........

1,811,700

202,943,635

New

York

—

12.4%

8,360,000

City

New

York

Current

Refunding

GO,

Series

A-1,

5.00%,

08/01/30

...........

9,252,233

5,000,000

City

New

York

Current

Refunding

GO,

Series

B-1,

5.00%,

08/01/26

...........

5,200,077

5,000,000

City

New

York

Current

Refunding

GO,

Series

B-1,

5.00%,

08/01/28

...........

5,376,752

5,000,000

City

New

York

Current

Refunding

GO,

Series

5.00%,

08/01/25

...........

5,098,622

15,000,000

City

New

York

Current

Refunding

GO,

Series

F-2,

5.13%,

08/01/24

...........

15,000,000

5,000,000

City

New

York

Public

Improvements

GO,

Series

B-2,

5.37%,

10/01/25

...........

5,024,459

12,335,000

City

New

York

Public

Improvements

GO,

Series

B-2,

5.31%,

10/01/27

...........

12,657,532

10,000,000

City

New

York

Public

Improvements

GO,

Series

B-3,

5.00%,

09/01/26(c)

.........

10,400,971

8,890,000

City

New

York

Public

Improvements

GO,

Subseries

D-2,

3.66%,

12/01/26

...........

8,726,467

19,825,000

City

New

York

Public

Improvements

GO,

Sub-Series

E-2,

4.57%,

04/01/28

...........

19,935,681

2,055,000

Metropolitan

Transportation

Authority

Advance

Refunding

Revenue

Bonds,

Series

5.25%,

11/15/31

...........

2,143,433

Old

Westbury

Funds,

Inc.

Municipal

Bond

Fund

Portfolio

Investments

(Continued)

July

31,

2024

(Unaudited)

Principal

Amount

Value

New

York

(continued)

10,000,000

Nassau

County

Interim

Finance

Authority

Cash

Flow

Management

Revenue

Bonds,

Series

5.00%,

11/15/27

...........

10,739,800

15,000,000

New

York

City

Transitional

Finance

Authority

Advance

Refunding

Revenue

Bonds,

Series

5.00%,

11/01/25

...........

15,008,370

5,000,000

New

York

City

Transitional

Finance

Authority

Building

Aid

Current

Refunding

Revenue

Bonds,

Series

S-1A,

(State

Aid

Withholding),

5.00%,

07/15/31

...........

5,634,641

10,000,000

New

York

City

Transitional

Finance

Authority

Building

Aid

Current

Refunding

Revenue

Bonds,

Series

S-1A,

(State

Aid

Withholding),

5.00%,

07/15/32

...........

11,444,212

10,000,000

New

York

City

Transitional

Finance

Authority

Future

Tax

Secured

Current

Refunding

Revenue

Bonds,

5.00%,

11/01/27

...........

10,660,449

9,000,000

New

York

City

Transitional

Finance

Authority

Future

Tax

Secured

Revenue

Bonds,

5.00%,

02/01/31

...........

9,381,137

10,000,000

New

York

City

Transitional

Finance

Authority

Future

Tax

Secured

Revenue

Bonds,

Series

F-2,

4.90%,

02/01/32

...........

10,143,472

14,000,000

New

York

City

Transitional

Finance

Authority

Future

Tax

Secured

Revenue

Bonds,

Sub-Series

D-2,

5.00%,

11/01/28

...........

14,317,841

15,000,000

New

York

City

Transitional

Finance

Authority

Future

Tax

Secured

Revenue

Bonds,

Sub-Series

D-2,

5.05%,

11/01/29

...........

15,438,176

15,000,000

New

York

City

Transitional

Finance

Authority

Future

Tax

Secured

Revenue

Bonds,

Sub-Series

D-2,

5.15%,

11/01/30

...........

15,549,641

10,000,000

New

York

City

Transitional

Finance

Authority

Future

Tax

Secured

Revenue

Bonds,

Sub-Series

D-2,

5.25%,

11/01/31

...........

10,374,992

Principal

Amount

Value

New

York

(continued)

14,000,000

New

York

City

Transitional

Finance

Authority

Future

Tax

Secured

Revenue

Bonds,

Sub-Series

D-2,

5.35%,

11/01/32

...........

14,589,250

1,000,000

New

York

City

Transitional

Finance

Authority

Public

Improvements

Revenue

Bonds,

Series

5.00%,

05/01/25

...........

1,015,259

1,785,000

New

York

City

Transitional

Finance

Authority

Public

Improvements

Revenue

Bonds,

Series

5.00%,

05/01/26

...........

1,850,129

2,000,000

New

York

City

Transitional

Finance

Authority

Public

Improvements

Revenue

Bonds,

Series

5.00%,

05/01/27

...........

2,111,656

7,000,000

New

York

City

Transitional

Finance

Authority

Public

Improvements

Revenue

Bonds,

Series

5.00%,

05/01/36

...........

8,027,612

2,500,000

New

York

City

Transitional

Finance

Authority

Public

Improvements

Revenue

Bonds,

Series

5.00%,

05/01/37

...........

2,861,639

8,560,000

New

York

City

Transitional

Finance

Authority

Public

Improvements

Revenue

Bonds,

Series

F-1,

5.00%,

02/01/45

...........

9,457,580

2,000,000

New

York

State

Dormitory

Authority

Advance

Refunding

Revenue

Bonds,

Series

5.00%,

03/15/31

...........

2,034,122

8,000,000

New

York

State

Dormitory

Authority

Correctional

Facilities

Improvements

Revenue

Bonds,

Series

A-1,

5.00%,

03/15/36

...........

9,170,178

10,000,000

New

York

State

Dormitory

Authority

Public

Facilities

Revenue

Bonds,

Series

5.11%,

03/15/25

...........

9,994,051

5,000,000

New

York

State

Dormitory

Authority

Public

Improvements

Revenue

Bonds,

Series

5.00%,

02/15/28(a)

.........

5,058,634

10,000,000

New

York

State

Dormitory

Authority

School

Improvements

Revenue

Bonds,

Group

Series

5.00%,

03/15/32

...........

10,848,949

Old

Westbury

Funds,

Inc.

Municipal

Bond

Fund

Portfolio

Investments

(Continued)

July

31,

2024

(Unaudited)

Principal

Amount

Value

New

York

(continued)

12,000,000

New

York

State

Dormitory

Authority

School

Improvements

Revenue

Bonds,

Group

Series

5.00%,

03/15/29

...........

12,767,723

6,290,000

New

York

State

Dormitory

Authority

School

Improvements

Revenue

Bonds,

Series

5.00%,

03/15/27

...........

6,661,833

10,000,000

New

York

State

Dormitory

Authority

School

Improvements

Revenue

Bonds,

Series

5.00%,

03/15/27

...........

10,591,149

5,000,000

New

York

State

Dormitory

Authority

University

College

Improvements

Revenue

Bonds,

Series

5.00%,

03/15/26

...........

5,166,558

4,000,000

New

York

State

Dormitory

Authority

University

College

Improvements

Revenue

Bonds,

Series

5.00%,

03/15/29

...........

4,377,816

14,000,000

New

York

State

Dormitory

Authority

University

College

Improvements

Revenue

Bonds,

Series

5.29%,

03/15/25

...........

14,011,035

7,850,000

New

York

State

Thruway

Authority

Current

Refunding

Revenue

Bonds,

Series

5.00%,

01/01/25

...........

7,914,248

10,000,000

New

York

State

Thruway

Authority

Transit

Improvements

Revenue

Bonds,

Series

5.00%,

03/15/39

...........

11,241,020

2,105,000

New

York

State

Urban

Development

Corp.

Advance

Refunding

Revenue

Bonds,

Series

5.00%,

03/15/27(a)

.........

2,174,449

5,835,000

New

York

State

Urban

Development

Corp.

Advance

Refunding

Revenue

Bonds,

Series

5.00%,

03/15/25

...........

5,912,248

11,970,000

New

York

State

Urban

Development

Corp.

Correctional

Facilities

Improvements

Revenue

Bonds,

5.00%,

09/15/28

...........

12,976,335

10,000,000

New

York

State

Urban

Development

Corp.

Correctional

Facilities

Improvements

Revenue

Bonds,

5.00%,

03/15/30

...........

11,067,711

Principal

Amount

Value

New

York

(continued)

10,000,000

New

York

State

Urban

Development

Corp.

Correctional

Facilities

Improvements

Revenue

Bonds,

5.00%,

03/15/31

...........

11,234,785

10,000,000

New

York

State

Urban

Development

Corp.

Correctional

Facilities

Improvements

Revenue

Bonds,

5.00%,

03/15/32

...........

11,385,951

20,000,000

New

York

State

Urban

Development

Corp.

Transit

Improvements

Revenue

Bonds,

Series

5.00%,

03/15/36

...........

23,085,806

3,500,000

Triborough

Bridge

Tunnel

Authority

Refunding

Revenue

Bonds,

5.00%,

05/15/27

...........

3,702,124

5,000,000

Utility

Debt

Securitization

Authority

Refunding

Revenue

Bonds,

Series

TE,

5.00%,

06/15/27

...........

5,085,571

10,000,000

Utility

Debt

Securitization

Authority

Refunding

Revenue

Bonds,

Series

TE,

5.00%,

06/15/28

...........

10,392,626

10,000,000

Utility

Debt

Securitization

Authority

Refunding

Revenue

Bonds,

Series

TE,

5.00%,

06/15/29

...........

10,523,012

6,500,000

Utility

Debt

Securitization

Authority

Refunding

Revenue

Bonds,

Series

TE,

5.00%,

06/15/30

...........

7,027,331

10,210,000

Utility

Debt

Securitization

Authority

Refunding

Revenue

Bonds,

Series

TE,

5.00%,

06/15/31

...........

11,288,217

10,000,000

Utility

Debt

Securitization

Authority

Refunding

Revenue

Bonds,

Series

TE,

5.00%,

06/15/32

...........

11,235,908

514,351,473

North

Carolina

—

2.3%

11,680,000

City

Charlotte

Current

Refunding

GO,

Series

5.00%,

07/01/25

...........

11,905,917

3,295,000

City

Charlotte

Current

Refunding

GO,

Series

5.00%,

07/01/28

...........

3,566,073

2,375,000

City

Charlotte

Current

Refunding

GO,

Series

5.00%,

07/01/29

...........

2,616,561

Old

Westbury

Funds,

Inc.

Municipal

Bond

Fund

Portfolio

Investments

(Continued)

July

31,

2024

(Unaudited)

Principal

Amount

Value

North

Carolina

(continued)

3,000,000

City

Charlotte

GO,

Series

4.75%,

06/01/33

...........

3,061,681

1,000,000

City

Charlotte

Water

Sewer

System

Refunding

Revenue

Bonds,

5.00%,

07/01/25

...........

1,019,342

1,000,000

City

Charlotte

Water

Sewer

System

Refunding

Revenue

Bonds,

5.00%,

07/01/26

...........

1,040,382

1,235,000

City

Charlotte

Water

Sewer

System

Refunding

Revenue

Bonds,

5.00%,

07/01/27

...........

1,311,106

1,250,000

City

Charlotte

Water

Sewer

System

Refunding

Revenue

Bonds,

5.00%,

07/01/30

...........

1,401,145

1,375,000

City

Charlotte

Water

Sewer

System

Refunding

Revenue

Bonds,

5.00%,

07/01/35

...........

1,632,704

2,000,000

City

Charlotte

Water

Sewer

System

Refunding

Revenue

Bonds,

5.00%,

07/01/36

...........

2,360,029

1,750,000

City

Charlotte

Water

Sewer

System

Refunding

Revenue

Bonds,

5.00%,

07/01/37

...........

2,062,229

5,000,000

City

Charlotte

Water

Sewer

System

Refunding

Revenue

Bonds,

Series

5.00%,

07/01/30

...........

5,604,579

5,000,000

City

Charlotte

Water

Sewer

System

Refunding

Revenue

Bonds,

Series

5.00%,

07/01/31

...........

5,694,825

10,000,000

City

Raleigh

Combined

Enterprise

System

Current

Refunding

Revenue

Bonds,

5.00%,

09/01/32

...........

11,587,510

2,600,000

County

Forsyth

School

Improvements

GO,

Series

5.00%,

06/01/30

...........

2,911,866

11,645,000

County

Mecklenburg

GO,

5.00%,

09/01/26

...........

12,150,327

6,555,000

County

Union

School

Improvements

GO,

5.00%,

09/01/24

...........

6,566,046

Principal

Amount

Value

North

Carolina

(continued)

5,995,000

County

Union

School

Improvements

GO,

5.00%,

09/01/25

...........

6,132,086

2,000,000

State

North

Carolina

Highway

Improvements

Revenue

Bonds,

Series

5.00%,

05/01/25

...........

2,030,369

3,250,000

State

North

Carolina

Highway

Improvements

Revenue

Bonds,

Series

5.00%,

05/01/27

...........

3,435,761

7,600,000

State

North

Carolina

Highway

Improvements

Revenue

Bonds,

Series

5.00%,

05/01/28

...........

8,187,999

96,278,537

Ohio

—

2.4%

2,635,000

City

Columbus

Public

Improvements

GO,

Series

5.00%,

08/15/25

...........

2,691,429

2,000,000

City

Columbus

Public

Improvements

GO,

Series

5.00%,

08/15/26

...........

2,084,023

3,000,000

City

Columbus

Public

Improvements

GO,

Series

5.00%,

08/15/40

...........

3,451,221

1,000,000

County

Hamilton

Sewer

System

Refunding

Revenue

Bonds,

Series

5.00%,

12/01/26

...........

1,006,136

1,515,000

County

Hamilton

Sewer

System

Refunding

Revenue

Bonds,

Series

5.00%,

12/01/27

...........

1,524,296

17,050,000

Ohio

State

University

(The)

University

College

Improvements

Revenue

Bonds,

Series

5.00%,

12/01/33

...........

19,790,668

5,125,000

Ohio

State

University

(The)

University

College

Improvements

Revenue

Bonds,

Series

5.00%,

12/01/35

...........

5,913,621

3,000,000

Ohio

Water

Development

Authority

Revenue

Bonds,

5.00%,

06/01/26

...........

3,115,870

10,000,000

Ohio

Water

Development

Authority

Water

Pollution

Control

Loan

Fund

Revenue

Bond,

Series

2015-A,

5.00%,

12/01/24

...........

10,067,314

Old

Westbury

Funds,

Inc.

Municipal

Bond

Fund

Portfolio

Investments

(Continued)

July

31,

2024

(Unaudited)

Principal

Amount

Value

Ohio

(continued)

5,000,000

Ohio

Water

Development

Authority

Water

Pollution

Control

Loan

Fund

Revenue

Bonds,

Series

5.00%,

12/01/33

...........

5,823,480

7,640,000

Ohio

Water

Development

Authority

Water

Pollution

Control

Loan

Fund

Water

Utility

Improvements

Revenue

Bonds,

Series

5.00%,

12/01/47

...........

8,427,550

8,000,000

Ohio

Water

Development

Authority

Water

Utility

Improvements

Revenue

Bonds,

Series

5.00%,

12/01/33

...........

9,317,569

3,575,000

Ohio

Water

Development

Authority

Water

Utility

Improvements

Revenue

Bonds,

Series

5.00%,

06/01/26

...........

3,713,078

10,000,000

State

Ohio

Advance

Refunding

GO,

Series

5.00%,

12/15/24

...........

10,074,684

6,500,000

State

Ohio

Health

Care

Facilities

Revenue

Bonds,

5.00%,

01/01/32

...........

7,371,424

2,250,000

State

Ohio

Highway

Improvements

Revenue

Bonds,

Series

2022-1,

5.00%,

12/15/24

...........

2,266,804

1,200,000

State

Ohio

Highway

Improvements

Revenue

Bonds,

Series

2022-1,

5.00%,

12/15/25

...........

1,234,222

97,873,389

Oklahoma

—

0.2%

5,675,000

Oklahoma

City

Water

Utilities

Trust

Advance

Refunding

Revenue

Bonds,

3.68%,

07/01/29

...........

5,544,147

2,985,000

Oklahoma

Turnpike

Authority

Refunding

Revenue

Bonds,

Series

5.00%,

01/01/28

...........

3,188,079

8,732,226

Oregon

—

1.5%

11,960,000

City

Portland

Sewer

System

Revenue

Bonds,

Series

5.00%,

12/01/24

...........

12,040,191

2,500,000

City

Portland

Water

System

Revenue

Bonds,

Series

5.00%,

05/01/26

...........

2,591,743

2,500,000

City

Portland

Water

System

Revenue

Bonds,

Series

5.00%,

05/01/27

...........

2,644,179

Principal

Amount

Value

Oregon

(continued)

2,000,000

City

Portland

Water

System

Revenue

Bonds,

Series

5.00%,

05/01/28

...........

2,153,181

2,380,000

City

Portland

Water

System

Revenue

Bonds,

Series

5.00%,

05/01/29

...........

2,609,475

3,350,000

City

Portland

Water

System

Revenue

Bonds,

Series

5.00%,

05/01/30

...........

3,718,240

2,300,000

City

Portland

Water

System

Revenue

Bonds,

Series

5.00%,

05/01/31

...........

2,591,478

9,535,000

Multnomah

County

School

District

Portland

School

Improvements

GO,

(School

Board

GTY),

5.00%,

06/15/30

...........

10,641,755

10,350,000

State

Oregon

Facilities

Improvements

GO,

Series

5.00%,

05/01/25

...........

10,509,480

10,110,000

State

Oregon

Public

Facilities

GO,

Series

5.00%,

05/01/42

...........

11,326,299

60,826,021

Pennsylvania

—

1.3%

6,700,000

Commonwealth

Pennsylvania

Current

Refunding

GO,

Series

5.00%,

09/01/25

...........

6,850,477

10,000,000

Commonwealth

Pennsylvania

Current

Refunding

GO,

Series

5.00%,

09/01/26

...........

10,427,750

7,000,000

Philadelphia

Authority

for

Industrial

Development

Refunding

Revenue

Bonds,

5.00%,

07/01/26

...........

7,256,115

5,890,000

Philadelphia

Authority

for

Industrial

Development

Refunding

Revenue

Bonds,

5.00%,

07/01/27

...........

6,222,812

6,275,000

Philadelphia

Authority

for

Industrial

Development

Refunding

Revenue

Bonds,

5.00%,

07/01/28

...........

6,738,496

8,500,000

Philadelphia

Authority

for

Industrial

Development

Refunding

Revenue

Bonds,

5.00%,

07/01/29

...........

9,271,217

Old

Westbury

Funds,

Inc.

Municipal

Bond

Fund

Portfolio

Investments

(Continued)

July

31,

2024

(Unaudited)

Principal

Amount

Value

Pennsylvania

(continued)

6,500,000

Philadelphia

Authority

for

Industrial

Development

Refunding

Revenue

Bonds,

5.00%,

07/01/30

...........

7,185,619

53,952,486

South

Carolina

—

0.7%

4,010,000

Darlington

County

School

District

School

Improvements

GO,

(South

Carolina

School

District

Enhancement),

5.00%,

03/01/27

...........

4,221,895

3,695,000

Renewable

Water

Resources

Current

Refunding

Revenue

Bonds,

Series

5.00%,

04/01/32

...........

4,255,819

3,830,000

Renewable

Water

Resources

Current

Refunding

Revenue

Bonds,

Series

5.00%,

04/01/33

...........

4,475,310

4,290,000

Renewable

Water

Resources

Current

Refunding

Revenue

Bonds,

Series

5.00%,

04/01/35

...........

5,075,159

1,430,000

South

Carolina

Jobs-Economic

Development

Authority

Revenue

Bonds,

Series

5.00%,

11/01/32

...........

1,617,260

2,000,000

South

Carolina

Jobs-Economic

Development

Authority

Revenue

Bonds,

Series

5.00%,

11/01/33

...........

2,287,962

6,475,000

South

Carolina

Jobs-Economic

Development

Authority

Revenue

Bonds,

Series

5.00%,

11/01/34

...........

7,444,255

29,377,660

South

Dakota

—

0.3%

1,500,000

South

Dakota

Health

Educational

Facilities

Authority

Revenue

Bonds,

Series

5.00%,

07/01/30

...........

1,653,096

7,955,000

South

Dakota

Health

Educational

Facilities

Authority

Revenue

Bonds,

Series

5.00%,

07/01/31

...........

8,849,740

10,502,836

Principal

Amount

Value

Tennessee

—

0.4%

9,820,000

County

Rutherford

School

Improvements

GO,

5.00%,

04/01/37

...........

11,307,287

3,830,000

Metropolitan

Government

Nashville

Davidson

County

Health

Educational

Facilities

Board

Refunding

Revenue

Bonds,

5.00%,

10/01/35

...........

4,517,719

2,165,000

Tennessee

State

School

Bond

Authority

Pre-refunded

Advance

Refunding

Revenue

Bonds,

Series

(State

Aid

Intercept

Program),

5.00%,

11/01/30(a)

.........

2,219,595

18,044,601

Texas

—

20.5%

2,000,000

Alamo

Community

College

District

University

College

Improvements

GO,

5.00%,

02/15/26

...........

2,062,041

5,000,000

Austin

Independent

School

District

School

Improvements

GO,

(PSF-GTD),

5.00%,

08/01/37

...........

5,789,472

10,000,000

Board

Regents

the

University

Texas

System

Current

Refunding

Revenue

Bonds,

Series

5.00%,

08/15/29

...........

10,971,794

8,035,000

Board

Regents

the

University

Texas

System

Current

Refunding

Revenue

Bonds,

Series

5.00%,

08/15/32

...........

8,752,596

14,700,000

Board

Regents

the

University

Texas

System

Current

Refunding

Revenue

Bonds,

Series

5.00%,

08/15/35

...........

17,224,456

14,775,000

Board

Regents

the

University

Texas

System

Current

Refunding

Revenue

Bonds,

Series

5.00%,

08/15/37

...........

17,195,232

8,620,000

Board

Regents

the

University

Texas

System

Refunding

Revenue

Bonds,

Series

5.00%,

08/15/31

...........

9,748,002

10,500,000

Board

Regents

the

University

Texas

System

Refunding

Revenue

Bonds,

Series

5.00%,

08/15/34

...........

11,984,320

Old

Westbury

Funds,

Inc.

Municipal

Bond

Fund

Portfolio

Investments

(Continued)

July

31,

2024

(Unaudited)

Principal

Amount

Value

Texas

(continued)

1,065,000

Board

Regents

the

University

Texas

System

Refunding

Revenue

Bonds,

Series

5.00%,

08/15/29

...........

1,065,719

2,000,000

City

Austin

Airport

System

Revenue

Bonds,

5.00%,

11/15/25

...........

2,037,905

5,000,000

City

Austin

Airport

System

Revenue

Bonds,

5.00%,

11/15/28

...........

5,295,062

3,890,000

City

Austin

Water

Wastewater

System

Advance

Refunding

Revenue

Bonds,

5.00%,

11/15/27

...........

4,151,042

2,185,000

City

Austin

Water

Wastewater

System

Current

Refunding

Revenue

Bonds,

5.00%,

11/15/30

...........

2,439,932

5,000,000

City

Austin

Water

Wastewater

System

Advance

Refunding

Revenue

Bonds,

5.00%,

11/15/29

...........

5,193,890

5,145,000

City

Fort

Worth

Water

Sewer

System

Improvements

Refunding

Revenue

Bonds,

5.00%,

02/15/25

...........

5,199,633

5,720,000

Clear

Creek

Independent

School

District

Current

Refunding

GO,

(PSF-GTD),

5.00%,

02/15/34

...........

6,570,018

8,340,000

Clear

Creek

Independent

School

District

Current

Refunding

GO,

(PSF-GTD),

5.00%,

02/15/37

...........

9,466,373

9,500,000

Conroe

Independent

School

District

School

Improvements

GO,

(PSF-GTD),

5.00%,

02/15/25

...........

9,611,081

6,725,000

Conroe

Independent

School

District

School

Improvements

GO,

(PSF-GTD),

5.00%,

02/15/41

...........

7,592,941

7,500,000

County

Bexar

Advance

Refunding

GO,

5.00%,

06/15/29(a)

.........

7,777,909

18,695,000

County

Bexar

GO,

5.00%,

06/15/49

...........

20,326,064

24,425,000

County

Collin

Public

Facilities

GO,

5.00%,

02/15/25

...........

24,689,601

6,400,000

County

Collin

Public

Facilities

GO,

5.00%,

02/15/26

...........

6,599,507

Principal

Amount

Value

Texas

(continued)

6,730,000

County

Collin

Public

Facilities

GO,

5.00%,

02/15/27

...........

7,076,077

9,545,000

County

Collin

Public

Facilities

GO,

5.00%,

02/15/40

...........

10,728,511

1,000,000

County

Harris

Refunding

GO,

Series

5.00%,

09/15/29

...........

1,099,300

6,085,000

County

Harris

Refunding

GO,

Series

5.00%,

09/15/33

...........

7,058,378

5,000,000

County

Harris

Refunding

GO,

Series

5.00%,

09/15/34

...........

5,871,760

2,225,000

County

Harris

Toll

Road

Current

Refunding

Revenue

Bonds,

Series

5.00%,

08/15/27

...........

2,359,296

2,100,000

County

Harris

Toll

Road

Current

Refunding

Revenue

Bonds,

Series

5.00%,

08/15/28

...........

2,267,184

3,500,000

County

Harris

Toll

Road

Current

Refunding

Revenue

Bonds,

Series

5.00%,

08/15/29

...........

3,843,703

6,800,000

County

Harris

Toll

Road

Current

Refunding

Revenue

Bonds,

Series

5.00%,

08/15/30

...........

7,569,484

2,500,000

County

Harris

Toll

Road

Revenue

Bonds,

Series

5.00%,

08/15/26

...........

2,603,732

2,250,000

County

Harris

Toll

Road

Revenue

Bonds,

Series

5.00%,

08/15/27

...........

2,385,805

6,350,000

County

Harris

Toll

Road

Revenue

Bonds,

Series

5.00%,

08/15/28

...........

6,855,531

3,250,000

County

Harris

Toll

Road

Revenue

Bonds,

Series

5.00%,

08/15/29

...........

3,569,153

2,500,000

County

Harris

Toll

Road

Revenue

Bonds,

Series

5.00%,

08/15/30

...........

2,782,898

5,000,000

County

Harris

Toll

Road

Revenue

Bonds,

Series

5.00%,

08/15/31

...........

5,640,844

6,695,000

County

Harris

Toll

Road

Revenue

Bonds,

Series

5.00%,

08/15/32

...........

7,644,154

Old

Westbury

Funds,

Inc.

Municipal

Bond

Fund

Portfolio

Investments

(Continued)

July

31,

2024

(Unaudited)

Principal

Amount

Value

Texas

(continued)

3,000,000

County

Harris

Toll

Road

Revenue

Bonds,

Series

5.00%,

08/15/33

...........

3,464,241

10,000,000

Cypress-Fairbanks

Independent

School

District

Current

Refunding

GO,

Series

(PSF-GTD),

5.00%,

02/15/30

...........

11,057,987

2,500,000

Dallas

Independent

School

District

School

Improvements

GO,

(PSF-GTD),

5.00%,

02/15/25

...........

2,526,815

2,500,000

Dallas

Independent

School

District

School

Improvements

GO,

(PSF-GTD),

5.00%,

02/15/38

...........

2,847,885

5,000,000

Deer

Park

Independent

School

District

School

Improvements

GO,

(PSF-GTD),

5.00%,

08/15/48

...........

5,440,026

7,715,000

Denton

Independent

School

District

Advance

Refunding

GO,

(PSF-GTD),

5.00%,

08/15/26(a)

.........

7,794,702

2,500,000

Denton

Independent

School

District

Advance

Refunding

GO,

(PSF-GTD),

5.00%,

08/15/29

...........

2,577,144

5,000,000

Denton

Independent

School

District

School

Improvements

GO,

(PSF-GTD),

5.00%,

08/15/34

...........

5,741,198

3,750,000

Denton

Independent

School

District

School

Improvements

GO,

(PSF-GTD),

5.00%,

08/15/35

...........

4,347,643

2,500,000

Denton

Independent

School

District

School

Improvements

GO,

(PSF-GTD),

5.00%,

08/15/36

...........

2,879,460

3,500,000

Denton

Independent

School

District

School

Improvements

GO,

(PSF-GTD),

5.00%,

08/15/48

...........

3,815,089

6,800,000

Ector

County

Independent

School

District

School

Improvements

GO,

Series

(PSF-GTD),

5.00%,

08/15/25

...........

6,941,012

5,750,000

Ector

County

Independent

School

District

School

Improvements

GO,

Series

(PSF-GTD),

5.00%,

08/15/39

...........

6,493,750

Principal

Amount

Value

Texas

(continued)

1,500,000

Paso

Independent

School

District

Refunding

GO,

(PSF-GTD),

5.00%,

08/15/25

...........

1,502,432

4,545,000

Fort

Bend

Independent

School

District

Current

Refunding

GO,

Series

(PSF-GTD),

5.00%,

08/15/24

...........

4,548,267

5,000,000

Fort

Bend

Independent

School

District

Current

Refunding

GO,

Series

(PSF-GTD),

5.00%,

08/15/25

...........

5,102,653

1,525,000

Fort

Bend

Independent

School

District

Current

Refunding

GO,

Series

(PSF-GTD),

5.00%,

08/15/29

...........

1,673,178

6,625,000

Fort

Bend

Independent

School

District

Refunding

GO,

(PSF-GTD),

5.00%,

08/15/24

...........

6,629,763

2,000,000

Fort

Bend

Independent

School

District

Refunding

GO,

Series

(PSF-GTD),

5.00%,

08/15/25

...........

2,041,061

2,500,000

Fort

Worth

Independent

School

District

School

Improvements

GO,

(PSF-GTD),

5.00%,

02/15/25

...........

2,527,889

8,230,000

Georgetown

Independent

School

District

Current

Refunding

GO,

Series

(PSF-GTD),

5.00%,

08/15/24

...........

8,235,786

9,850,000

Gregory-Portland

Independent

School

District

School

Improvements

GO,

(PSF-GTD),

5.00%,

02/15/37

...........

11,033,667

1,500,000

Harris

County

Cultural

Education

Facilities

Finance

Corp.

Current

Refunding

Revenue

Bonds,

Series

5.00%,

07/01/34

...........

1,734,395

10,000,000

Houston

Higher

Education

Finance

Corp.

University

College

Improvements

Revenue

Bonds,

5.00%,

05/15/34

...........

11,700,451

2,500,000

Hurst-Euless-Bedford

Independent

School

District

School

Improvements

GO,

(PSF-GTD),

5.00%,

08/15/26

...........

2,601,211

12,635,000

Klein

Independent

School

District

School

Improvements

GO,

(PSF-GTD),

5.00%,

08/01/24

...........

12,635,000

Old

Westbury

Funds,

Inc.

Municipal

Bond

Fund

Portfolio

Investments

(Continued)

July

31,

2024

(Unaudited)

Principal

Amount

Value

Texas

(continued)

5,000,000

Leander

Independent

School

District

School

Improvements

GO,

(PSF-GTD),

5.00%,

02/15/27

...........

5,254,471

5,000,000

Leander

Independent

School

District

School

Improvements

GO,

(PSF-GTD),

5.00%,

02/15/28

...........

5,351,698

5,000,000

Lewisville

Independent

School

District

School

Improvements

GO,

(PSF-GTD),

5.00%,

08/15/28

...........

5,387,956

10,000,000

Lone

Star

College

System

Advance

Refunding

GO,

5.00%,

02/15/29

...........

10,297,174

10,000,000

Lone

Star

College

System

University

College

Improvements

GO,

Series

5.00%,

02/15/25

...........

10,104,346

2,500,000

Midland

Independent

School

District

School

Improvements

GO,

(PSF-GTD),

4.00%,

02/15/39

...........

2,576,487

13,360,000

Permanent

University

Fund

Texas

A&M

University

System

Refunding

Revenue

Bonds,

5.50%,

07/01/28

...........

14,186,610

14,110,000

Permanent

University

Fund

Texas

A&M

University

System

University

College

Improvements

Revenue

Bonds,

5.00%,

07/01/36

...........

15,986,327

2,000,000

Permanent

University

Fund

University

Texas

System

Current

Refunding

Revenue

Bonds,

Series

5.00%,

07/01/27

...........

2,114,573

2,550,000

Permanent

University

Fund

University

Texas

System

Current

Refunding

Revenue

Bonds,

Series

5.00%,

07/01/28

...........

2,745,929

1,750,000

Permanent

University

Fund

University

Texas

System

Current

Refunding

Revenue

Bonds,

Series

5.00%,

07/01/29

...........

1,916,967

Principal

Amount

Value

Texas

(continued)

2,000,000

Permanent

University

Fund

University

Texas

System

Current

Refunding

Revenue

Bonds,

Series

5.00%,

07/01/30

...........

2,224,469

6,575,000

Permanent

University

Fund

University

Texas

System

Current

Refunding

Revenue

Bonds,

Series

5.00%,

07/01/36

...........

7,653,631

3,500,000

Permanent

University

Fund

University

Texas

System

Current

Refunding

Revenue

Bonds,

Series

5.00%,

07/01/37

...........

4,068,745

7,500,000

Permanent

University

Fund

University

Texas

System

Current

Refunding

Revenue

Bonds,

Series

5.00%,

07/01/40

...........

8,458,025

10,000,000

Permanent

University

Fund

University

Texas

System

Current

Refunding

Revenue

Bonds,

Series

5.00%,

07/01/41

...........

11,227,677

1,245,000

Permanent

University

Fund

University

Texas

System

Current

Refunding

Revenue

Bonds,

Series

5.00%,

07/01/25

...........

1,268,286

1,875,000

Permanent

University

Fund

University

Texas

System

Current

Refunding

Revenue

Bonds,

Series

5.00%,

07/01/26

...........

1,949,648

6,355,000

Permanent

University

Fund

University

Texas

System

Current

Refunding

Revenue

Bonds,

Series

5.00%,

07/01/30

...........

7,068,250

7,275,000

Permanent

University

Fund

University

Texas

System

Current

Refunding

Revenue

Bonds,

Series

5.00%,

07/01/32

...........

8,326,139

10,000,000

Permanent

University

Fund

University

Texas

System

Refunding

Revenue

Bonds,

5.00%,

07/01/26

...........

10,386,726

Old

Westbury

Funds,

Inc.

Municipal

Bond

Fund

Portfolio

Investments

(Continued)

July

31,

2024

(Unaudited)

Principal

Amount

Value

Texas

(continued)

6,000,000

Permanent

University

Fund

University

Texas

System

Refunding

Revenue

Bonds,

5.00%,

07/01/27

...........

6,345,443

6,500,000

Permanent

University

Fund

University

Texas

System

Refunding

Revenue

Bonds,

5.00%,

07/01/30

...........

7,233,259

4,425,000

Permanent

University

Fund

University

Texas

System

Refunding

Revenue

Bonds,

5.00%,

07/01/31

...........

4,992,312

3,500,000

Permanent

University

Fund

University

Texas

System

Refunding

Revenue

Bonds,

5.00%,

07/01/32

...........

4,008,362

5,000,000

Pflugerville

Independent

School

District

School

Improvements

GO,

Series

(PSF-GTD),

5.00%,

02/15/35(c)

.........

5,577,861

2,385,000

Prosper

Independent

School

District

School

Improvements

GO,

(PSF-GTD),

5.00%,

02/15/40

...........

2,703,322

2,435,000

Rankin

Independent

School

District

School

Improvements

GO,

(PSF-GTD),

5.00%,

02/15/27

...........

2,504,161

1,250,000

Rankin

Independent

School

District

School

Improvements

GO,

(PSF-GTD),

5.00%,

02/15/30

...........

1,285,336

1,250,000

Rankin

Independent

School

District

School

Improvements

GO,

(PSF-GTD),

5.00%,

02/15/31

...........

1,285,336

2,000,000

San

Antonio

Water

System

Water

Utility

Improvements

Revenue

Bonds,

Series

5.00%,

05/15/25

...........

2,031,228

2,500,000

San

Antonio

Water

System

Water

Utility

Improvements

Revenue

Bonds,

Series

5.00%,

05/15/26

...........

2,590,716

2,500,000

Sherman

Independent

School

District

School

Improvements

GO,

Series

(PSF-GTD),

5.00%,

02/15/36

...........

2,857,954

Principal

Amount

Value

Texas

(continued)

9,000,000

Spring

Branch

Independent

School

District

School

Improvements

GO,

(PSF-GTD),

5.00%,

02/01/26

...........

9,270,771

5,750,000

Spring

Branch

Independent

School

District

School

Improvements

GO,

(PSF-GTD),

5.00%,

02/01/27

...........

6,033,800

9,450,000

Spring

Branch

Independent

School

District

School

Improvements

GO,

(PSF-GTD),

5.00%,

02/01/29

...........

10,285,639

7,180,000

Spring

Independent

School

District

Advance

Refunding

GO,

Series

5.00%,

08/15/28

...........

7,466,057

5,000,000

State

Texas

Public

Finance

Authority

Advance

Refunding

GO,

5.00%,

10/01/26

...........

5,218,167

5,000,000

State

Texas

Public

Finance

Authority

Advance

Refunding

GO,

2.18%,

10/01/27

...........

4,706,076

5,000,000

State

Texas

Refunding

GO,

Series

1.94%,

10/01/31

...........

4,263,729

3,200,000

State

Texas

Transportation

Commission

Advance

Refunding

GO,

Series

5.00%,

10/01/25

...........

3,276,299

5,000,000

State

Texas

Transportation

Commission

Advance

Refunding

GO,

Series

5.00%,

10/01/28

...........

5,105,296

1,000,000

State

Texas,

Water

Financial

Assistance

Refunding

GO,

Subseries

B-2,

5.00%,

08/01/28

...........

1,000,000

18,500,000

Tarrant

Regional

Water

District

Water

Supply

System

Revenue

Bonds,

5.00%,

03/01/31

...........

20,747,922

15,160,000

Tarrant

Regional

Water

District

Water

Supply

System

Revenue

Bonds,

5.00%,

03/01/34

...........

17,610,861

3,000,000

Texas

A&M

University

College

Improvements

Revenue

Bonds,

5.00%,

05/15/30

...........

3,333,548

1,500,000

Texas

A&M

University

College

Improvements

Revenue

Bonds,

Series

5.00%,

05/15/29

...........

1,640,875

Old

Westbury

Funds,

Inc.

Municipal

Bond

Fund

Portfolio

Investments

(Continued)

July

31,

2024

(Unaudited)

Principal

Amount

Value

Texas

(continued)

2,000,000

Texas

A&M

University

College

Improvements

Revenue

Bonds,

Series

5.00%,

05/15/32

...........

2,285,033

2,000,000

Texas

A&M

University

College

Improvements

Revenue

Bonds,

Series

5.00%,

05/15/33

...........

2,313,888

2,000,000

Texas

A&M

University

College

Improvements

Revenue

Bonds,

Series

5.00%,

05/15/34

...........

2,343,797

2,310,000

Texas

A&M

University

College

Improvements

Revenue

Bonds,

Series

5.00%,

05/15/35

...........

2,697,794

4,565,000

Texas

State

University

System

University

College

Improvements

Revenue

Bonds,

5.00%,

03/15/25

...........

4,618,036

10,170,000

Texas

State

University

System

University

College

Improvements

Revenue

Bonds,

5.00%,

03/15/28

...........

10,897,894

4,000,000

Texas

State

University

System

University

College

Improvements

Revenue

Bonds,

5.00%,

03/15/29

...........

4,352,139

4,100,000

Texas

State

University

System

University

College

Improvements

Revenue

Bonds,

5.00%,

03/15/30

...........

4,530,712

1,605,000

Texas

State

University

System

University

College

Improvements

Revenue

Bonds,

5.00%,

03/15/31

...........

1,799,963

10,000,000

Texas

State

University

System

University

College

Improvements

Revenue

Bonds,

5.00%,

03/15/32

...........

11,370,401

7,500,000

Texas

State

University

System

University

College

Improvements

Revenue

Bonds,

5.00%,

03/15/33

...........

8,621,494

7,500,000

Texas

State

University

System

University

College

Improvements

Revenue

Bonds,

5.00%,

03/15/34

...........

8,729,859

Principal

Amount

Value

Texas

(continued)

6,700,000

Texas

State

University

System

University

College

Improvements

Revenue

Bonds,

5.00%,

03/15/37

...........

7,685,043

17,185,000

Texas

Tech

University

System

University

College

Improvements

Revenue

Bonds,

Series

5.00%,

02/15/30

...........

19,003,716

15,585,000

Texas

Tech

University

System

University

College

Improvements

Revenue

Bonds,

Series

5.00%,

02/15/31

...........

17,486,967

16,690,000

Texas

Tech

University

System

University

College

Improvements

Revenue

Bonds,

Series

5.00%,

02/15/32

...........

18,992,749

5,000,000

Texas

Tech

University

System

University

College

Improvements

Revenue

Bonds,

Series

5.00%,

02/15/33

...........

5,766,105

4,250,000

Texas

Transportation

Commission

State

Highway

Fund

Highway

Improvements

Revenue

Bonds

Series

5.00%,

10/01/26

...........

4,438,276

2,085,000

United

Independent

School

District

GO,

(PSF-GTD),

5.00%,

08/15/25

...........

2,128,667

5,500,000

University

Houston

University

College

Improvements

Revenue

Bonds,

Series

5.00%,

02/15/38

...........

6,166,420

4,335,000

Wylie

Independent

School

District

School

Improvements

GO,

(PSF-GTD),

5.00%,

08/15/36

...........

5,007,794

852,158,316

Utah

—

0.8%

2,950,000

City

Salt

Lake

City

Airport

Revenue

Bonds,

Series

5.00%,

07/01/26

...........

3,036,809

2,500,000

City

Salt

Lake

City

Airport

Revenue

Bonds,

Series

5.00%,

07/01/30

...........

2,687,444

Old

Westbury

Funds,

Inc.

Municipal

Bond

Fund

Portfolio

Investments

(Continued)

July

31,

2024

(Unaudited)

Principal

Amount

Value

Utah

(continued)

10,000,000

City

Salt

Lake

City

Airport

Revenue

Bonds,

Series

5.00%,

07/01/33

...........

10,792,356

6,000,000

City

Salt

Lake

City

Airport

Revenue

Bonds,

Series

5.00%,

07/01/34

...........

6,589,733

10,000,000

County

Utah

Health

Care

Facilities

Revenue

Bonds,

4.00%,

05/15/41

...........

10,014,768

33,121,110

Virginia

—

3.3%

3,330,000

Commonwealth

Virginia

Advance

Refunding

GO,

Series

(State

Aid

Withholding),

5.00%,

06/01/25

...........

3,386,324

7,430,000

Commonwealth

Virginia

Advance

Refunding

GO,

Series

(State

Aid

Withholding),

5.00%,

06/01/28

...........

7,560,136

5,000,000

County

Fairfax

School

Improvements

GO,

Series

(State

Aid

Withholding),

5.00%,

10/01/27

...........

5,288,237

5,000,000

County

Fairfax

School

Improvements

GO,

Series

(State

Aid

Withholding),

5.00%,

10/01/29

...........

5,272,882

7,555,000

County

Loudoun

GO,

Series

(State

Aid

Withholding),

5.00%,

12/01/25

...........

7,766,006

10,900,000

Fairfax

County

Industrial

Development

Authority

Health

Care

Facilities

Revenue

Bonds,

5.00%,

05/15/32

...........

12,314,057

3,000,000

Hampton

Roads

Transportation

Accountability

Commission

Highway

Improvements

Revenue

Bonds,

Series

5.00%,

07/01/35

...........

3,430,635

16,330,000

Hampton

Roads

Transportation

Accountability

Commission

Revenue

Bonds,

Series

5.00%,

07/01/26

...........

16,950,463

4,460,000

Loudoun

County

Sanitation

Authority

Advance

Refunding

Revenue

Bonds,

5.00%,

01/01/29

...........

4,492,703

Principal

Amount

Value

Virginia

(continued)

3,210,000

Virginia

Beach

Development

Authority

Current

Refunding

Revenue

Bonds,

Series

5.00%,

02/01/25

...........

3,243,954

2,755,000

Virginia

Beach

Development

Authority

Current

Refunding

Revenue

Bonds,

Series

5.00%,

02/01/26

...........

2,837,710

2,750,000

Virginia

Beach

Development

Authority

Current

Refunding

Revenue

Bonds,

Series

5.00%,

02/01/27

...........

2,890,557

5,725,000

Virginia

College

Building

Authority

University

College

Improvements

Revenue

Bonds,

5.00%,

02/01/27

...........

6,013,278

5,000,000

Virginia

College

Building

Authority

University

College

Improvements

Revenue

Bonds,

5.00%,

02/01/28

...........

5,353,171

6,540,000

Virginia

College

Building

Authority

University

College

Improvements

Revenue

Bonds,

5.00%,

02/01/29

...........

7,129,931

5,000,000

Virginia

College

Building

Authority

University

College

Improvements

Revenue

Bonds,

5.00%,

02/01/38

...........

5,618,571

14,865,000

Virginia

Commonwealth

Transportation

Board

Current

Refunding

Revenue

Bonds,

5.00%,

05/15/39

...........

17,030,778

5,000,000

Virginia

Commonwealth

Transportation

Board

Transit

Improvements

Revenue

Bonds,

5.00%,

05/15/27

...........

5,175,774

2,645,000

Virginia

Public

School

Authority

School

Improvements

Revenue

Bonds,

(State

Aid

Withholding),

5.00%,

08/01/25

...........

2,698,542

3,475,000

Virginia

Public

School

Authority

School

Improvements

Revenue

Bonds,

(State

Aid

Withholding),

5.00%,

08/01/29

...........

3,834,336

2,280,000

Virginia

Public

School

Authority

School

Improvements

Revenue

Bonds,

Series

2022,

(State

Aid

Withholding),

5.00%,

02/01/27

...........

2,397,098

Old

Westbury

Funds,

Inc.

Municipal

Bond

Fund

Portfolio

Investments

(Continued)

July

31,

2024

(Unaudited)

Principal

Amount

Value

Virginia

(continued)

3,325,000

Virginia

Public

School

Authority

School

Improvements

Revenue

Bonds,

Series

2022,

(State

Aid

Withholding),

5.00%,

02/01/28

...........

3,562,264

2,000,000

Virginia

Resources

Authority

Advance

Refunding

Revenue,

5.00%,

11/01/26

...........

2,092,536

136,339,943

Washington

—

6.3%

4,535,000

City

Seattle

Municipal

Light

Power

Revenue

Bonds,

Series

5.00%,

03/01/30

...........

5,025,593

5,395,000

County

King

Refunding

GO,

5.00%,

07/01/26

...........

5,439,595

9,000,000

County

King

School

District

411

Issaquah

School

Improvements

GO,

(School

Board

GTY),

5.00%,

12/01/32

...........

9,565,246

8,000,000

County

King

Sewer

Revenue

Bonds,

Series

5.00%,

07/01/29

...........

8,610,570

10,000,000

Energy

Northwest

Advance

Refunding

Revenue

Bonds,

Series

5.00%,

07/01/27

...........

10,397,214

1,500,000

King

Snohomish

Counties

School

District

417

Northshore

School

Improvements

GO,

(School

Board

GTY),

5.00%,

12/01/39

...........

1,718,035

2,000,000

King

County

School

District

403

Renton

School

Improvements

GO,

(School

Board

GTY),

5.00%,

12/01/24

...........

2,013,075

5,100,000

Snohomish

County

School

District

Edmonds

School

Improvements

GO,

(School

Board

GTY),

5.00%,

12/01/25

...........

5,237,325

2,270,000

Snohomish

County

School

District

Edmonds

School

Improvements

GO,

(School

Board

GTY),

5.00%,

12/01/29

...........

2,510,492

8,560,000

Snohomish

County

School

District

Edmonds

School

Improvements

GO,

(School

Board

GTY),

5.00%,

12/01/37

...........

9,903,598

Principal

Amount

Value

Washington

(continued)

5,000,000

Snohomish

County

School

District

201

Refunding

GO,

(School

Board

GTY),

5.00%,

12/01/25

...........

5,004,927

6,000,000

Spokane

County

School

District

Spokane

School

Improvements

GO,

(School

Board

GTY),

5.00%,

12/01/36

...........

6,826,265

20,000,000

State

Washington

Current

Refunding

GO,

Series

R-2023A,

5.00%,

08/01/37

...........

22,953,862

11,000,000

State

Washington

Current

Refunding

GO,

Series

R-2023A,

5.00%,

08/01/38

...........

12,514,933

5,620,000

State

Washington

GO,

Series

4.74%,

08/01/26

...........

5,666,205

6,650,000

State

Washington

Highway

Improvements

GO,

Series

5.00%,

02/01/43

...........

6,951,385

15,635,000

State

Washington

Refunding

GO,

Series

R-2015,

5.00%,

07/01/25

...........

15,686,885

24,710,000

State

Washington

School

Improvements

GO,

Series

2024-A,

5.00%,

08/01/42

...........

27,553,941

15,000,000

State

Washington

School

Improvements

GO,

Series

5.00%,

08/01/29

...........

16,514,283

15,000,000

State

Washington

School

Improvements

GO,

Series

5.00%,

08/01/30

...........

16,766,563

10,000,000

State

Washington

School

Improvements

GO,

Series

Group

5.00%,

02/01/39

...........

11,260,736

15,000,000

State

Washington

School

Improvements

GO,

Series

Group

5.00%,

02/01/40

...........

16,780,532

8,975,000

State

Washington

School

Improvements

GO,

Series

5.00%,

02/01/44

...........

9,695,177

22,645,000

State

Washington

School

Improvements

GO,

Series

Group

5.00%,

02/01/35

...........

26,327,713

260,924,150

Old

Westbury

Funds,

Inc.

Municipal

Bond

Fund

Portfolio

Investments

(Continued)

July

31,

2024

(Unaudited)

The

following

abbreviations

are

used

the

report:

Principal

Amount

Value

Wisconsin

—

2.3%

5,780,000

State

Wisconsin

Crossover

Refunding

GO,

Series

5.00%,

11/01/27

...........

6,100,670

11,000,000

State

Wisconsin

Current

Refunding

GO,

Series

5.00%,

05/01/25

...........

11,164,563

2,000,000

State

Wisconsin

Current

Refunding

GO,

Series

2024-2,

5.00%,

05/01/26

...........

2,069,436

2,000,000

State

Wisconsin

Current

Refunding

GO,

Series

2024-2,

5.00%,

05/01/29

...........

2,190,339

10,000,000

State

Wisconsin

Current

Refunding

Revenue

Bonds,

Series

5.00%,

05/01/29(a)

.........

10,591,209

13,780,000

State

Wisconsin

GO,

Series

5.00%,

05/01/38

...........

15,544,854

13,310,000

State

Wisconsin

Public

Facilities

GO,

Series

5.00%,

05/01/25

...........

13,509,122

14,975,000

State

Wisconsin

Public

Facilities

GO,

Series

5.00%,

05/01/44

...........

16,706,025

8,000,000

State

Wisconsin

University

College

Improvements

GO,

Series

5.00%,

05/01/32

...........

9,025,108

7,250,000

Wisconsin

Health

Educational

Facilities

Authority

Advance

Refunding

Revenue

Bonds,

5.00%,

08/15/54(b)

.........

7,474,686

94,376,012

Total

Municipal

Bonds

(Cost

$3,949,224,576)

3,952,442,104

CORPORATE

BONDS

—

0.9%

United

States

—

0.9%

1,675,000

Andrew

Mellon

Foundation

(The),

Series

2020,

0.95%,

08/01/27

...........

1,519,597

5,000,000

Baylor

Scott

White

Holdings,

Series

2021,

0.83%,

11/15/25

...........

4,713,733

8,000,000

Brown

University,

Series

1.91%,

09/01/30

...........

6,902,926

5,000,000

Leland

Stanford

Junior

University,

1.29%,

06/01/27

...........

4,593,697

Principal

Amount

Value

United

States

(continued)

20,000,000

SSM

Health

Care

Corp.,

4.89%,

06/01/28

...........

20,210,291

Total

Corporate

Bonds

(Cost

$39,703,390)

37,940,244

U.S.

GOVERNMENT

SECURITIES

—

1.5%

U.S.

Treasury

Notes

—

1.5%

18,000,000

4.25%,

10/15/25

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

17,924,765

15,000,000

4.63%,

02/28/26

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

15,038,672

15,000,000

4.25%,

03/15/27

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

15,048,047

15,000,000

4.00%,

02/15/34

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

14,936,719

Total

U.S.

Government

Securities

(Cost

$62,087,036)

62,948,203

INVESTMENT

COMPANY

—

2.6%

106,386,100

Federated

Hermes

U.S.

Treasury

Cash

Reserves,

Premier

Class,

5.20%(d)

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

106,386,100

Total

Investment

Company

(Cost

$106,386,100)

106,386,100

TOTAL

INVESTMENTS

—

100.2%

(Cost

$4,157,401,102)

4,159,716,651

LIABILITIES

EXCESS

OTHER

ASSETS

—

(0.2)%

(9,802,503)

NET

ASSETS

—

100.0%

4,149,914,148

(a)

These

securities

are

pre-refunded;

the

date

shown

represents

the

pre-

refunded

date.

Bonds

which

are

pre-refunded

are

collateralized

U.S.

Government

securities

which

are

held

escrow

and

are

used

pay

principal

and

interest

the

municipal

issue

and

retire

the

bonds

full

the

earliest

refunding

date.

(b)

Floating

rate

security.

Rate

shown

the

rate

effect

July

31,

2024.

(c)

These

securities

are

subject

remarketing

prior

its

stated

maturity,

and

subject

mandatory

redemption

the

stated

maturity

date.

(d)

The

rate

shown

represents

the

current

yield

July

31,

2024.

AGM

—

Assured

Guaranty

Municipal

Corp.

COP

—

Certificates

Participation

—

General

Obligation

GTY

—

Guaranty

PSF-GTD

—

Permanent

School

Fund

Guarantee

Old

Westbury

Funds,

Inc.

Municipal

Bond

Fund

Portfolio

Investments

(Continued)

July

31,

2024

(Unaudited)

Portfolio

Diversification

State

(Unaudited)

State:

Percentage

Net

Assets

Alabama

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

0.0

Arizona

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

0.8

California

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

6.4

Colorado

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

1.3

Connecticut

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

3.0

Delaware

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

2.3

District

Columbia

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

2.4

Florida

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

1.4

Georgia

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

1.4

Hawaii

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

2.3

Idaho

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

0.2

Illinois

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

0.2

Indiana

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

0.1

Iowa

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

0.6

Maryland

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

5.5

Massachusetts

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

5.4

Michigan

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

0.4

Minnesota

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

0.9

Missouri

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

0.3

Nebraska

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

0.1

Nevada

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

0.6

New

Jersey

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

4.9

New

York

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

12.4

North

Carolina

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

2.3

Ohio

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

2.4

Oklahoma

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

0.2

Oregon

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

1.5

Pennsylvania

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

1.3

South

Carolina

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

0.7

South

Dakota

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

0.3

Tennessee

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

0.4

Texas

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

20.5

Utah

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

0.8

Virginia

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

3.3

Washington

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

6.3

Wisconsin

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

2.3

Other

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

4.8

100.0%

Represents

less

than

0.01%

net

assets.

Includes

cash

and

equivalents,

Corporate

Bonds,

U.S.

Government

Securities,

investment

company,

pending

trades

and

Fund

transactions,

interest

and

dividends

receivable,

prepaids

and

accrued

expenses

payable.

Old Westbury Funds NPORT-POld Westbury Municipal Bond Fund (Jul 2024 report)