NPORT-EX 2 BTOW601OldWestMuniBdFd.htm
Old
Westbury
Funds,
Inc.
Municipal
Bond
Fund
Portfolio
of
Investments
-
(Continued)
1
July
31,
2021
(Unaudited)
Old
Westbury
Funds,
Inc.
Municipal
Bond
Fund
Portfolio
of
Investments
July
31,
2021
(Unaudited)
Principal
Amount
Value
MUNICIPAL
BONDS
—
92.3%
Alabama
—
1.0%
$
2,000,000
Alabama
Federal
Aid
Highway
Finance
Authority
Highway
Improvements
Revenue
Bonds,
Series
A,
5.00%,
09/01/22
............
$
2,106,914
1,750,000
Alabama
Federal
Aid
Highway
Finance
Authority
Public
Improvement
Revenue
Bonds,
5.00%,
09/01/21
............
1,756,761
1,500,000
Alabama
Public
School
&
College
Authority
Advance
Refunding
Revenue
Bonds,
Series
B,
5.00%,
05/01/24
............
1,699,216
9,000,000
Alabama
Public
School
and
College
Authority
School
Improvements
Revenue
Bonds,
Series
A,
5.00%,
11/01/33
............
12,071,358
3,030,000
City
of
Huntsville
School
Capital
Improvements
Warrants
Refunding
GO,
5.00%,
09/01/22
............
3,190,278
3,660,000
City
of
Huntsville
School
Capital
Improvements
Warrants
Refunding
GO,
5.00%,
09/01/26
............
4,198,011
1,500,000
City
of
Huntsville
Warrants
Refunding
GO,
Series
A,
5.00%,
08/01/26
............
1,714,957
13,000,000
Water
Works
Board
of
the
City
of
Birmingham
Water
Utility
Improvements
Revenue
Bonds,
Series
B,
5.00%,
01/01/45
(a)
..........
15,115,378
41,852,873
Arizona
—
1.3%
875,000
Arizona
Department
of
Transportation
State
Highway
Fund
Refunding
Revenue
Bonds,
5.00%,
07/01/25
............
996,809
1,300,000
Arizona
Department
of
Transportation
State
Highway
Fund
Refunding
Revenue
Bonds,
Series
A,
5.00%,
07/01/29
(a)
..........
1,357,873
2,390,000
Arizona
School
Facilities
Board
Advance
Refunding
COP,
Series
A,
5.00%,
09/01/23
............
2,628,852
Principal
Amount
Value
Arizona
(continued)
$
1,715,000
Arizona
State
Board
of
Regents
Advance
Refunding
COP,
Series
A,
5.00%,
06/01/24
............
$
1,944,647
1,250,000
Arizona
Water
Infrastructure
Finance
Authority
Refunding
Revenue
Bonds,
Series
A,
5.00%,
10/01/26
............
1,437,059
1,850,000
Maricopa
County
Industrial
Development
Authority
Health
Care
Facilities
Revenue
Bonds,
Series
A,
5.00%,
09/01/34
............
2,490,261
1,250,000
Maricopa
County
Industrial
Development
Authority
Health
Care
Facilities
Revenue
Bonds,
Series
A,
5.00%,
09/01/36
............
1,675,205
5,000,000
Salt
River
Project
Agricultural
Improvement
&
Power
District
Advance
Refunding
Revenue
Bonds,
5.00%,
01/01/22
............
5,102,076
8,950,000
Salt
River
Project
Agricultural
Improvement
&
Power
District
Advance
Refunding
Revenue
Bonds,
5.00%,
01/01/30
............
11,333,214
8,850,000
Salt
River
Project
Agricultural
Improvement
&
Power
District
Electric
Light
&
Power
Improvements
Revenue
Bonds,
Series
A,
5.00%,
01/01/22
............
9,030,674
6,470,000
Salt
River
Project
Agricultural
Improvement
&
Power
District
Electric
Light
&
Power
Improvements
Revenue
Bonds,
Series
A,
5.00%,
01/01/23
............
6,920,406
7,970,000
Salt
River
Project
Agricultural
Improvement
&
Power
District
Electric
Light
&
Power
Improvements
Revenue
Bonds,
Series
A,
5.00%,
01/01/27
............
9,905,196
54,822,272
Old
Westbury
Funds,
Inc.
Municipal
Bond
Fund
Portfolio
of
Investments
-
(Continued)
2
July
31,
2021
(Unaudited)
Principal
Amount
Value
Arkansas
—
0.2%
$
7,250,000
State
of
Arkansas
Public
Improvements
GO,
5.00
%,
10/01/26
............
$
8,327,396
735,000
University
of
Arkansas
Refunding
Revenue
Bonds,
5.00%,
03/01/26
............
853,215
9,180,611
California
—
4.5%
100,000
California
Health
Facilities
Financing
Authority
Current
Refunding
Revenue
Bonds,
(California
Mortgage
Insurance),
5.00%,
07/01/23
............
109,088
200,000
California
Municipal
Finance
Authority
Advance
Refunding
Revenue
Bonds,
(California
Mortgage
Insurance),
5.00%,
02/01/25
............
232,663
200,000
California
Municipal
Finance
Authority
Channing
House
Project
Advance
Refunding
Revenue
Bonds,
(California
Mortgage
Insurance),
5.00%,
05/15/25
............
234,691
1,410,000
City
of
Los
Angeles
Department
of
Airports
Airport
&
Marina
Improvements
Refunding
Revenue
Bonds,
Series
A,
5.00%,
05/15/29
............
1,834,735
1,160,000
City
of
Los
Angeles
Department
of
Airports
Airport
&
Marina
Improvements
Refunding
Revenue
Bonds,
Series
A,
5.00%,
05/15/30
............
1,535,592
1,360,000
City
of
Los
Angeles
Department
of
Airports
Airport
&
Marina
Improvements
Refunding
Revenue
Bonds,
Series
A,
5.00%,
05/15/31
............
1,835,883
1,840,000
City
of
Los
Angeles
Department
of
Airports
Airport
&
Marina
Improvements
Refunding
Revenue
Bonds,
Series
A,
5.00%,
05/15/32
............
2,470,878
1,805,000
City
of
Los
Angeles
Department
of
Airports
Airport
&
Marina
Improvements
Refunding
Revenue
Bonds,
Series
A,
5.00%,
05/15/33
............
2,413,449
Principal
Amount
Value
California
(continued)
$
1,930,000
City
of
Los
Angeles
Department
of
Airports
Airport
&
Marina
Improvements
Refunding
Revenue
Bonds,
Series
A,
5.00%,
05/15/34
............
$
2,567,297
1,865,000
City
of
Los
Angeles
Department
of
Airports
Airport
&
Marina
Improvements
Refunding
Revenue
Bonds,
Series
B,
5.00%,
05/15/35
............
2,524,527
1,500,000
County
of
San
Bernardino
CA
Arrow
Head
Project
Current
Refunding
COP,
Series
A,
5.00%,
10/01/23
............
1,656,725
5,000,000
Los
Angeles
County
Metropolitan
Transportation
Authority
Transit
Improvements
Revenue
Bonds,
Series
A,
5.00%,
06/01/28
............
6,487,299
4,365,000
Los
Angeles
County
Metropolitan
Transportation
Authority
Transit
Improvements
Revenue
Bonds,
Series
A,
5.00%,
06/01/29
............
5,813,466
5,000,000
Los
Angeles
County
Metropolitan
Transportation
Authority
Transit
Improvements
Revenue
Bonds,
Series
A,
5.00%,
06/01/31
............
6,965,029
4,150,000
Los
Angeles
County
Metropolitan
Transportation
Authority
Transit
Improvements
Revenue
Bonds,
Series
A,
5.00%,
06/01/32
............
5,750,975
5,000,000
Los
Angeles
Department
of
Water
&
Power
Power
System
Revenue
Current
Refunding
Revenue
Bonds,
Series
B,
5.00%,
01/01/22
............
5,081,217
5,000,000
Los
Angeles
Department
of
Water
&
Power
Power
System
Revenue
Current
Refunding
Revenue
Bonds,
Series
B,
5.00%,
07/01/24
............
5,707,054
3,500,000
Sacramento
Municipal
Utility
District
Refunding
Revenue
Bonds,
Sub-
Series
B,
5.00%,
08/15/49
(b)
..........
4,099,028
Old
Westbury
Funds,
Inc.
Municipal
Bond
Fund
Portfolio
of
Investments
-
(Continued)
3
July
31,
2021
(Unaudited)
Principal
Amount
Value
California
(continued)
$
6,850,000
San
Bernardino
Community
College
District
Advance
Refunding
GO,
1.61%,
08/01/27
............
$
7,001,776
3,800,000
San
Diego
County
Water
Authority
Refunding
Revenue
Bonds,
Sub-
Series
S1,
5.00%,
05/01/28
............
4,904,736
800,000
San
Diego
Regional
Building
Authority
Advance
Refunding
Revenue
Bonds,
Series
A,
5.00%,
10/15/24
............
923,293
2,500,000
San
Francisco
Bay
Area
Rapid
Transit
District
Transit
Improvements
GO,
Series
B-1,
5.00%,
08/01/24
............
2,861,498
10,000,000
San
Francisco
City
&
County
Airport
Comm-San
Francisco
International
Airport
Current
Refunding
Revenue
Bonds,
Series
2020,
5.00%,
05/01/37
............
12,902,902
2,340,000
San
Francisco
City
&
County
Airport
Comm-San
Francisco
International
Airport
Current
Refunding
Revenue
Bonds,
Series
A,
5.00%,
05/01/31
............
3,143,606
1,860,000
San
Francisco
City
&
County
Airport
Comm-San
Francisco
International
Airport
Current
Refunding
Revenue
Bonds,
Series
A,
5.00%,
05/01/34
............
2,468,436
1,000,000
San
Francisco
City
&
County
Airport
Comm-San
Francisco
International
Airport
Current
Refunding
Revenue
Bonds,
Series
A,
5.00%,
05/01/35
............
1,324,276
1,000,000
San
Francisco
City
&
County
Airport
Comm-San
Francisco
International
Airport
Current
Refunding
Revenue
Bonds,
Series
B,
5.00%,
05/01/31
............
1,375,371
Principal
Amount
Value
California
(continued)
$
1,250,000
San
Francisco
City
&
County
Airport
Comm-San
Francisco
International
Airport
Current
Refunding
Revenue
Bonds,
Series
B,
5.00%,
05/01/32
............
$
1,710,129
4,380,000
State
of
California
Advance
Refunding
GO,
5.00%,
08/01/25
............
5,208,472
6,095,000
State
of
California
Advance
Refunding
GO,
5.00%,
09/01/25
............
7,269,327
4,475,000
State
of
California
Advance
Refunding
GO,
5.00%,
11/01/25
............
5,368,479
4,530,000
State
of
California
Advance
Refunding
GO,
Group
B,
5.00%,
09/01/25
............
5,402,798
2,630,000
State
of
California
Current
Refunding
GO,
5.00%,
10/01/25
............
3,145,938
3,250,000
State
of
California
Current
Refunding
GO,
5.00%,
08/01/26
............
3,998,145
2,000,000
State
of
California
Current
Refunding
GO,
5.00%,
04/01/27
............
2,504,290
8,695,000
State
of
California
Current
Refunding
GO,
(AGM),
5.25%,
08/01/32
............
12,358,799
1,620,000
State
of
California
Department
of
Water
Resources
Advance
Refunding
Revenue
Bonds,
5.00%,
12/01/22
............
1,726,371
7,000,000
State
of
California
Public
Improvements
GO,
5.00%,
09/01/22
............
7,373,414
3,000,000
State
of
California
Public
Improvements
GO,
5.00%,
03/01/26
............
3,505,256
5,715,000
State
of
California
Public
Improvements
GO,
5.00%,
10/01/27
............
6,924,539
750,000
State
of
California
Refunding
GO,
5.00%,
04/01/24
............
847,368
8,000,000
State
of
California
Refunding
GO,
5.00%,
10/01/25
............
9,199,914
7,230,000
State
of
California
School
Improvements
GO,
5.00%,
11/01/28
............
9,171,144
Old
Westbury
Funds,
Inc.
Municipal
Bond
Fund
Portfolio
of
Investments
-
(Continued)
4
July
31,
2021
(Unaudited)
Principal
Amount
Value
California
(continued)
$
6,360,000
University
of
California
Refunding
Revenue
Bonds,
Series
AJ,
4.60%,
05/15/31
............
$
7,636,027
1,235,000
Western
Municipal
Water
District
Facilities
Authority
Water
Utility
Improvements
Revenue
Bonds,
Series
A,
5.00%,
10/01/37
............
1,662,216
189,238,116
Colorado
—
2.5%
10,000,000
City
&
County
of
Denver
CO
Airport
System
Revenue,
5.00%,
12/01/32
............
12,620,851
5,850,000
City
&
County
of
Denver
CO
Airport
System
Revenue
Airport
&
Marina
Improvements
Refunding
Revenue
Bonds,
Series
A,
5.00%,
12/01/28
............
7,537,268
8,000,000
City
&
County
of
Denver
CO
Airport
System
Revenue
Refunding
Revenue
Bonds,
Series
A1,
5.00%,
11/15/22
............
8,506,710
2,175,000
City
&
County
of
Denver
CO
Airport
System
Revenue
Refunding
Revenue
Bonds,
Series
A1,
5.00%,
11/15/32
............
2,925,148
5,000,000
City
&
County
of
Denver
CO
Airport
System
Revenue
Refunding
Revenue
Bonds,
Series
A2,
5.00%,
11/15/23
............
5,551,983
3,300,000
City
&
County
of
Denver
CO
Airport
System
Revenue
Refunding
Revenue
Bonds,
Series
A2,
5.00%,
11/15/25
............
3,951,697
4,000,000
City
&
County
of
Denver
Co.
Airport
System
Refunding
Revenue
Bonds,
Series
D,
5.00%,
11/15/31
(b)
..........
4,244,252
2,490,000
Colorado
Health
Facilities
Authority
Current
Refunding
Revenue
Bonds,
5.00%,
11/15/37
............
3,370,460
5,000,000
Colorado
Health
Facilities
Authority
Current
Refunding
Revenue
Bonds,
5.00%,
11/15/39
............
6,732,737
2,060,000
Colorado
Higher
Education
Refunding
COP,
Series
A,
5.00%,
11/01/24
............
2,363,476
Principal
Amount
Value
Colorado
(continued)
$
2,000,000
Denver
City
&
County
School
District
No
1
Refunding
GO,
(State
Aid
Withholding),
5.00%,
12/01/24
............
$
2,315,957
4,275,000
Regional
Transportation
District
Sales
Tax
Revenue
Advance
Refunding
Revenue
Bonds,
1.18%,
11/01/27
............
4,250,734
15,010,000
Regional
Transportation
District
Sales
Tax
Revenue
Current
Refunding
Revenue
Bonds,
5.00%,
11/01/29
............
19,998,913
15,000,000
Regional
Transportation
District
Sales
Tax
Revenue
Current
Refunding
Revenue
Bonds,
4.00%,
11/01/39
............
18,549,194
890,000
Weld
County
School
District
No
RE-2
Eaton
Schools
Improvements
GO,
(State
Aid
Withholding),
5.00%,
12/01/23
............
990,314
103,909,694
Connecticut
—
3.3%
9,000,000
Connecticut
State
Health
&
Educational
Facilities
Authority
Refunding
Revenue
Bonds,
Series
A,
1.45%,
07/01/42
(b)(c)
........
9,114,411
6,500,000
Connecticut
State
Health
&
Educational
Facilities
Authority
University
&
College
Improvements
Revenue
Bonds,
4.00%,
07/01/31
............
8,331,142
10,000,000
Connecticut
State
Health
&
Educational
Facilities
Authority
University
&
College
Improvements
Revenue
Bonds,
Series
A-4,
2.00%,
07/01/49
(b)
..........
10,100,013
8,880,000
Connecticut
State
Health
&
Educational
Facilities
Authority
University
&
College
Improvements
Revenue
Bonds,
Series
C-1,
5.00%,
07/01/40
(b)
..........
11,303,639
11,200,000
Connecticut
State
Health
&
Educational
Facilities
Authority
University
&
College
Improvements
Revenue
Bonds,
Series
S,
5.00%,
07/01/27
............
14,148,986
Old
Westbury
Funds,
Inc.
Municipal
Bond
Fund
Portfolio
of
Investments
-
(Continued)
5
July
31,
2021
(Unaudited)
Principal
Amount
Value
Connecticut
(continued)
$
1,000,000
Hartford
County
Metropolitan
District
Refunding
Notes
GO,
5.00%,
03/01/25
............
$
1,121,795
325,000
Hartford
County
Metropolitan
District
Refunding
Notes
GO,
Series
C,
(AGM),
5.00%,
11/01/23
............
360,449
5,860,000
Hartford
County
Metropolitan
District
Refunding
Notes
GO,
Series
C,
(AGM),
5.00%,
11/01/25
............
7,016,278
2,350,000
State
of
Connecticut
Clean
Water
Fund
-
State
Revolving
Fund
Refunding
Revenue
Bonds,
Series
A,
5.00%,
03/01/29
............
2,736,633
1,380,000
State
of
Connecticut
Clean
Water
Fund
-
State
Revolving
Fund
Refunding
Revenue
Bonds,
Series
A,
5.00%,
05/01/31
............
1,713,857
5,000,000
State
of
Connecticut
Current
Refunding
GO,
Series
C,
5.00%,
07/15/22
............
5,235,251
8,650,000
State
of
Connecticut
Current
Refunding
GO,
Series
C,
5.00%,
07/15/24
............
9,880,396
30,000,000
State
of
Connecticut
Refunding
GO,
Series
C,
5.00%,
06/01/23
............
31,226,250
1,245,000
State
of
Connecticut
Special
Tax
Revenue
Highway
Improvements
Revenue
Bonds,
Series
A,
5.00%,
05/01/26
............
1,517,817
1,700,000
State
of
Connecticut
Special
Tax
Revenue
Highway
Improvements
Revenue
Bonds,
Series
A,
5.00%,
05/01/27
............
2,134,966
1,715,000
State
of
Connecticut
Special
Tax
Revenue
Highway
Improvements
Revenue
Bonds,
Series
A,
5.00%,
05/01/28
............
2,209,908
1,700,000
State
of
Connecticut
Special
Tax
Revenue
Highway
Improvements
Revenue
Bonds,
Series
A,
5.00%,
05/01/29
............
2,239,980
2,200,000
State
of
Connecticut
Special
Tax
Revenue
Highway
Improvements
Revenue
Bonds,
Series
A,
5.00%,
05/01/29
............
2,898,798
Principal
Amount
Value
Connecticut
(continued)
$
1,500,000
State
of
Connecticut
Special
Tax
Revenue
Highway
Improvements
Revenue
Bonds,
Series
A,
5.00%,
05/01/30
............
$
2,015,321
2,000,000
State
of
Connecticut
Special
Tax
Revenue
Highway
Improvements
Revenue
Bonds,
Series
A,
5.00%,
05/01/31
............
2,730,722
3,100,000
State
of
Connecticut
Special
Tax
Revenue
Public
Improvements
Revenue
Bonds,
Series
A,
5.00%,
08/01/22
............
3,252,628
1,250,000
State
of
Connecticut
Special
Tax
Revenue
Transportation
Infrastructure
Advance
Refunding
Revenue
Bonds,
5.00%,
08/01/22
............
1,311,543
1,900,000
State
of
Connecticut
Transportation
Infrastructure
Refunding
Revenue
Bonds,
5.00%,
09/01/24
............
2,181,828
5,000,000
State
of
Connecticut
Transportation
Infrastructure
Revenue
Bonds,
Series
A,
5.00%,
09/01/27
............
5,725,009
445,000
University
of
Connecticut
University
&
College
Improvements
Revenue
Bonds,
Series
A,
5.00%,
01/15/27
............
550,722
141,058,342
Delaware
—
2.2%
10,000,000
Delaware
State
Health
Facilities
Authority
Current
Refundin
Revenue
Bonds,
5.00%,
10/01/45
............
12,760,776
2,415,000
Delaware
Transportation
Authority
Current
Refunding
Revenue
Bonds,
5.00%,
09/01/28
............
3,105,377
1,165,000
Delaware
Transportation
Authority
Current
Refunding
Revenue
Bonds,
5.00%,
09/01/29
............
1,530,568
1,250,000
Delaware
Transportation
Authority
Current
Refunding
Revenue
Bonds,
5.00%,
09/01/30
............
1,674,388
Old
Westbury
Funds,
Inc.
Municipal
Bond
Fund
Portfolio
of
Investments
-
(Continued)
6
July
31,
2021
(Unaudited)
Principal
Amount
Value
Delaware
(continued)
$
1,250,000
Delaware
Transportation
Authority
Current
Refunding
Revenue
Bonds,
5.00%,
09/01/31
............
$
1,666,923
5,000,000
Delaware
Transportation
Authority
Current
Refunding
Revenue
Bonds,
5.00%,
07/01/32
............
6,742,363
1,500,000
Delaware
Transportation
Authority
Current
Refunding
Revenue
Bonds,
5.00%,
09/01/32
............
1,994,118
3,400,000
Delaware
Transportation
Authority
Current
Refunding
Revenue
Bonds,
5.00%,
07/01/33
............
4,566,349
1,000,000
Delaware
Transportation
Authority
Current
Refunding
Revenue
Bonds,
5.00%,
09/01/35
............
1,318,619
5,825,000
Delaware
Transportation
Authority
Public
Improvements
Revenue
Bonds,
5.00%,
07/01/26
............
7,137,003
10,000,000
State
of
Delaware
Current
Refunding
GO,
5.00%,
02/01/28
............
12,861,227
7,705,000
State
of
Delaware
Current
Refunding
GO,
Series
A,
5.00%,
10/01/27
............
9,824,411
10,800,000
State
of
Delaware
Public
Facilities
GO,
5.00%,
02/01/25
............
12,613,172
9,650,000
State
of
Delaware
Public
Facilities
GO,
5.00%,
02/01/26
............
11,681,426
2,885,000
State
of
Delaware
Public
Improvements
GO,
5.00%,
03/01/24
............
3,249,128
92,725,848
District
of
Columbia
—
2.1%
8,000,000
District
of
Columbia
Current
Refunding
Revenue
Bonds,
Series
C,
5.00%,
10/01/21
............
8,063,890
1,000,000
District
of
Columbia
Public
Improvements
GO,
Series
A,
5.00%,
06/01/25
............
1,181,580
Principal
Amount
Value
District
of
Columbia
(continued)
$
4,145,000
District
of
Columbia
Public
Improvements
Revenue
Bonds,
Series
A,
5.00%,
03/01/25
............
$
4,839,862
8,800,000
District
of
Columbia
Public
Improvements
Revenue
Bonds,
Series
A,
5.00%,
03/01/26
............
10,633,482
3,500,000
District
of
Columbia
Public
Improvements
Revenue
Bonds,
Series
B,
5.00%,
10/01/27
............
4,438,398
11,735,000
District
of
Columbia
Refunding
Revenue
Bonds,
Series
C,
5.00%,
10/01/23
............
12,971,895
10,000,000
District
of
Columbia
Water
&
Sewer
Authority
Revenue
Bonds,
Series
B,
5.00%,
10/01/52
............
12,106,270
5,000,000
Metropolitan
Washington
Airports
Authority
Aviation
Revenue
Airport
&
Marina
Improvements
Revenue
Bonds,
Series
A,
5.00%,
10/01/26
............
6,109,203
9,000,000
Metropolitan
Washington
Airports
Authority
Aviation
Revenue
Airport
&
Marina
Improvements
Revenue
Bonds,
Series
A,
5.00%,
10/01/27
............
11,295,171
5,000,000
Metropolitan
Washington
Airports
Authority
Aviation
Revenue
Airport
&
Marina
Improvements
Revenue
Bonds,
Series
A,
5.00%,
10/01/28
............
6,417,869
6,415,000
Metropolitan
Washington
Airports
Authority
Aviation
Revenue
Airport
&
Marina
Improvements
Revenue
Bonds,
Series
A,
5.00%,
10/01/29
............
8,413,355
86,470,975
Florida
—
3.6%
740,000
County
of
Hillsborough
Refunding
GO,
5.00%,
07/01/25
............
876,060
5,000,000
Orange
County
Health
Facilities
Authority
Current
Refunding
Revenue
Bonds,
5.00%,
11/15/52
(b)
..........
6,186,791
Old
Westbury
Funds,
Inc.
Municipal
Bond
Fund
Portfolio
of
Investments
-
(Continued)
7
July
31,
2021
(Unaudited)
Principal
Amount
Value
Florida
(continued)
$
1,065,000
Peace
River
Manasota
Regional
Water
Supply
Authority
Refunding
Revenue
Bonds,
4.00%,
10/01/22
............
$
1,113,060
1,255,000
Peace
River
Manasota
Regional
Water
Supply
Authority
Refunding
Revenue
Bonds,
4.00%,
10/01/24
............
1,401,204
1,000,000
Peace
River
Manasota
Regional
Water
Supply
Authority
Refunding
Revenue
Bonds,
5.00%,
10/01/25
............
1,188,851
10,000,000
State
of
Florida
Current
Refunding
GO,
Series
A,
5.00%,
07/01/29
............
13,243,829
16,355,000
State
of
Florida
Current
Refunding
GO,
Series
A,
5.00%,
07/01/30
............
22,097,281
5,000,000
State
of
Florida
Current
Refunding
GO,
Series
A,
5.00%,
07/01/24
............
5,702,336
3,475,000
State
of
Florida
Current
Refunding
GO,
Series
A,
5.00%,
06/01/24
............
3,955,143
2,565,000
State
of
Florida
Current
Refunding
GO,
Series
D,
5.00%,
06/01/23
............
2,796,435
1,750,000
State
of
Florida
Current
Refunding
GO,
Series
F,
5.00%,
06/01/28
............
2,135,557
11,525,000
State
of
Florida
Department
of
Transportation
Highway
Improvements
Revenue
Bonds,
Series
A,
5.00%,
07/01/29
............
15,057,495
12,105,000
State
of
Florida
Department
of
Transportation
Highway
Improvements
Revenue
Bonds,
Series
A,
5.00%,
07/01/30
............
16,135,187
12,710,000
State
of
Florida
Department
of
Transportation
Highway
Improvements
Revenue
Bonds,
Series
A,
5.00%,
07/01/31
............
17,300,641
13,345,000
State
of
Florida
Department
of
Transportation
Highway
Improvements
Revenue
Bonds,
Series
A,
5.00%,
07/01/32
............
18,552,481
Principal
Amount
Value
Florida
(continued)
$
2,380,000
State
of
Florida
Department
of
Transportation
Turnpike
System
Revenue,
Series
A,
5.00%,
07/01/22
............
$
2,487,654
2,465,000
State
of
Florida
Department
of
Transportation
Turnpike
System
Revenue,
Series
C,
5.00%,
07/01/22
............
2,576,499
9,800,000
State
of
Florida
Refunding
GO,
Series
B,
5.00%,
07/01/24
............
10,240,507
5,350,000
State
of
Florida
Refunding
GO,
Series
C,
5.00%,
06/01/23
............
5,832,720
3,895,000
State
of
Florida
Refunding
GO,
Series
C,
5.00%,
06/01/24
............
4,245,685
153,125,416
Georgia
—
3.8%
800,000
Brookhaven
Development
Authority
Revenue
Bonds,
Series
A,
5.00%,
07/01/22
............
835,884
1,950,000
Brookhaven
Development
Authority
Revenue
Bonds,
Series
A,
5.00%,
07/01/23
............
2,130,757
21,000,000
Brookhaven
Development
Authority
Revenue
Bonds,
Series
A,
4.00%,
07/01/49
............
24,672,041
750,000
Cherokee
County
Board
of
Education
Advance
Refunding
GO,
(State
Aid
Withholding),
5.00%,
02/01/23
............
805,161
2,000,000
City
of
Atlanta
GA
Department
of
Aviation
Current
Refunding
Revenue
Bonds,
Series
A,
5.00%,
07/01/24
............
2,280,306
5,000,000
City
of
Atlanta
GA
Department
of
Aviation
Current
Refunding
Revenue
Bonds,
Series
A,
5.00%,
07/01/25
............
5,919,324
4,225,000
City
of
Atlanta
GA
Department
of
Aviation
Current
Refunding
Revenue
Bonds,
Series
A,
5.00%,
07/01/26
............
5,169,696
11,445,000
City
of
Atlanta
GA
Department
of
Aviation
Current
Refunding
Revenue
Bonds,
Series
A,
5.00%,
07/01/27
............
14,390,073
Old
Westbury
Funds,
Inc.
Municipal
Bond
Fund
Portfolio
of
Investments
-
(Continued)
8
July
31,
2021
(Unaudited)
Principal
Amount
Value
Georgia
(continued)
$
5,000,000
City
of
Atlanta
GA
Department
of
Aviation
Current
Refunding
Revenue
Bonds,
Series
A,
5.00%,
07/01/28
............
$
6,454,539
1,400,000
City
of
Atlanta
GA
Department
of
Aviation
Current
Refunding
Revenue
Bonds,
Series
B,
5.00%,
07/01/24
............
1,590,946
2,000,000
City
of
Atlanta
GA
Department
of
Aviation
Current
Refunding
Revenue
Bonds,
Series
B,
5.00%,
07/01/25
............
2,354,038
2,000,000
City
of
Atlanta
GA
Department
of
Aviation
Current
Refunding
Revenue
Bonds,
Series
B,
5.00%,
07/01/26
............
2,429,789
3,000,000
City
of
Atlanta
GA
Department
of
Aviation
Current
Refunding
Revenue
Bonds,
Series
B,
5.00%,
07/01/27
............
3,740,331
3,000,000
City
of
Atlanta
GA
Department
of
Aviation
Current
Refunding
Revenue
Bonds,
Series
B,
5.00%,
07/01/28
............
3,828,522
810,000
Development
Authority
of
Bulloch
County
Current
Refunding
Revenue
Bonds,
5.00%,
08/01/22
............
848,213
2,075,000
Development
Authority
of
Cobb
County
Advance
Refunding
Revenue
Bonds,
5.00%,
07/15/23
............
2,265,668
385,000
Development
Authority
of
Cobb
County
Advance
Refunding
Revenue
Bonds,
5.00%,
07/15/24
............
437,561
635,000
Development
Authority
of
Cobb
County
Advance
Refunding,
Pre-
refunded,
Revenue
Bonds,
5.00%,
07/15/23
(a)
..........
694,944
115,000
Development
Authority
of
Cobb
County
Advance
Refunding,
Pre-
refunded,
Revenue
Bonds,
5.00%,
07/15/24
(a)
..........
131,228
5,310,000
Gainesville
&
Hall
County
Hospital
Authority
Current
Refunding
Revenue
Bonds,
5.00%,
02/15/22
............
5,445,701
Principal
Amount
Value
Georgia
(continued)
$
4,250,000
Gainesville
&
Hall
County
Hospital
Authority
Current
Refunding
Revenue
Bonds,
5.00%,
02/15/23
............
$
4,561,098
6,010,000
Gainesville
&
Hall
County
Hospital
Authority
Current
Refunding
Revenue
Bonds,
5.00%,
02/15/25
............
6,989,809
3,000,000
Gainesville
&
Hall
County
Hospital
Authority
Current
Refunding
Revenue
Bonds,
5.00%,
02/15/26
............
3,607,677
2,000,000
Georgia
State
Road
&
Tollway
Authority
Highway
Improvements
Revenue
Bonds,
5.00%,
06/01/28
............
2,581,085
1,750,000
Georgia
State
Road
&
Tollway
Authority
Highway
Improvements
Revenue
Bonds,
5.00%,
06/01/28
............
2,258,449
3,800,000
Georgia
State
Road
&
Tollway
Authority
Highway
Improvements
Revenue
Bonds,
5.00%,
06/01/29
............
5,016,450
3,190,000
Georgia
State
Road
&
Tollway
Authority
Highway
Improvements
Revenue
Bonds,
5.00%,
06/01/29
............
4,211,177
2,500,000
Georgia
State
Road
&
Tollway
Authority
Highway
Improvements
Revenue
Bonds,
5.00%,
06/01/30
............
3,364,524
3,000,000
Georgia
State
Road
&
Tollway
Authority
Highway
Improvements
Revenue
Bonds,
5.00%,
06/01/30
............
4,037,429
3,935,000
Lowndes
County
Board
of
Education
School
Improvements
GO,
(State
Aid
Withholding),
5.00%,
02/01/22
............
4,031,018
1,975,000
Lowndes
County
Board
of
Education
School
Improvements
GO,
(State
Aid
Withholding),
5.00%,
02/01/23
............
2,120,257
1,555,000
South
Regional
Joint
Development
Authority
Advance
Refunding
Revenue
Bonds,
Series
A,
5.00%,
08/01/26
............
1,890,566
Old
Westbury
Funds,
Inc.
Municipal
Bond
Fund
Portfolio
of
Investments
-
(Continued)
9
July
31,
2021
(Unaudited)
Principal
Amount
Value
Georgia
(continued)
$
1,100,000
South
Regional
Joint
Development
Authority
Advance
Refunding
Revenue
Bonds,
Series
B,
5.00%,
08/01/26
............
$
1,337,378
3,265,000
State
of
Georgia
Advance
Refunding
GO,
Series
C-1,
5.00%,
01/01/24
............
3,650,686
1,950,000
State
of
Georgia
Public
Improvements
GO,
Series
A-2,
5.00%,
02/01/25
............
2,184,421
2,230,000
State
of
Georgia
School
Improvements
GO,
Series
A-1,
5.00%,
02/01/25
............
2,603,535
18,020,000
State
of
Georgia
University
and
College
Improvements
GO,
Series
A-1,
5.00%,
02/01/24
............
20,219,148
161,089,429
Hawaii
—
3.2%
10,000,000
City
&
County
of
Honolulu
HI
Refunding
GO,
Series
A,
5.00%,
09/01/25
............
11,881,852
4,940,000
City
&
County
of
Honolulu
HI
Transit
Improvements
GO,
Series
E,
5.00%,
09/01/29
(b)
..........
5,359,077
3,000,000
City
&
County
of
Honolulu
Public
Improvements
Refunding
GO,
Series
D,
5.00%,
08/01/23
............
3,293,279
12,260,000
State
of
Hawaii
Airports
System
Revenue
Airport
&
Marina
Improvements
Revenue
Bonds,
Series
A,
5.00%,
07/01/31
............
16,117,819
11,965,000
State
of
Hawaii
Airports
System
Revenue
Airport
&
Marina
Improvements
Revenue
Bonds,
Series
A,
5.00%,
07/01/32
............
15,657,164
5,865,000
State
of
Hawaii
Airports
System
Revenue
Airport
&
Marina
Improvements
Revenue
Bonds,
Series
A,
5.00%,
07/01/33
............
7,649,808
2,500,000
State
of
Hawaii
Airports
System
Revenue
Airport
&
Marina
Improvements
Revenue
Bonds,
Series
A,
5.00%,
07/01/35
............
3,130,593
Principal
Amount
Value
Hawaii
(continued)
$
2,000,000
State
of
Hawaii
Airports
System
Revenue
Current
Refunding
Revenue
Bonds,
Series
E,
1.71%,
07/01/26
............
$
2,043,550
2,250,000
State
of
Hawaii
Airports
System
Revenue
Current
Refunding
Revenue
Bonds,
Series
E,
1.81%,
07/01/27
............
2,297,493
1,500,000
State
of
Hawaii
Harbor
System
Revenue
Airport
&
Marina
Improvements
Revenue
Bonds,
Series
A,
5
.00%,
07/01/26
............
1,815,047
4,165,000
State
of
Hawaii
Harbor
System
Revenue
Airport
&
Marina
Improvements
Revenue
Bonds,
Series
A,
5.00%,
07/01/27
............
5,171,023
7,330,000
State
of
Hawaii
Harbor
System
Revenue
Airport
&
Marina
Improvements
Revenue
Bonds,
Series
A,
5.00%,
07/01/28
............
9,326,174
3,915,000
State
of
Hawaii
Harbor
System
Revenue
Airport
&
Marina
Improvements
Revenue
Bonds,
Series
A,
5.00%,
07/01/29
............
5,090,742
3,750,000
State
of
Hawaii
Harbor
System
Revenue
Airport
&
Marina
Improvements
Revenue
Bonds,
Series
A,
5.00%,
07/01/30
............
4,953,689
10,420,000
State
of
Hawaii
Harbor
System
Revenue
Airport
&
Marina
Improvements
Revenue
Bonds,
Series
A,
4.00%,
07/01/31
............
12,724,806
11,920,000
State
of
Hawaii
Harbor
System
Revenue
Airport
&
Marina
Improvements
Revenue
Bonds,
Series
A,
4.00%,
07/01/32
............
14,509,767
2,500,000
State
of
Hawaii
Harbor
System
Revenue
Current
Refunding
Revenue
Bonds,
Series
C,
4.00%,
07/01/31
............
3,112,270
5,420,000
State
of
Hawaii
Public
Improvements
GO,
Series
EH,
5.00%,
08/01/33
(a)
..........
5,943,300
Old
Westbury
Funds,
Inc.
Municipal
Bond
Fund
Portfolio
of
Investments
-
(Continued)
10
July
31,
2021
(Unaudited)
Principal
Amount
Value
Hawaii
(continued)
$
2,515,000
State
of
Hawaii
Public
Improvements
GO,
Series
FK,
5.00%,
05/01/29
............
$
3,136,100
1,180,000
University
of
Hawaii
Advance
Refunding
Revenue
Bonds,
Series
F,
5.00%,
10/01/22
............
1,247,651
134,461,204
Idaho
—
0.1%
500,000
Canyon
County
School
District
No
131
Nampa
Advance
Refunding
GO,
(School
Board
GTY),
5.00%,
09/15/24
............
568,484
900,000
Canyon
County
School
District
No
131
Nampa
Advance
Refunding
GO,
(School
Board
GTY),
5.00%,
09/15/25
............
1,058,261
810,000
Idaho
Bond
Bank
Authority
Current
Refunding
Revenue
Bonds,
Series
D,
5.00%,
09/15/23
............
854,103
690,000
Idaho
Bond
Bank
Authority
Current
Refunding
Revenue
Bonds,
Series
D,
5.00%,
09/15/23
(a)
..........
727,163
3,208,011
Illinois
—
0
.2%
250,000
Glenview
Park
District
Recreation
Facilities
Improvements
GO,
5.00%,
12/01/25
............
296,272
300,000
Glenview
Park
District
Recreation
Facilities
Improvements
GO,
5.00%,
12/01/26
............
366,231
275,000
Glenview
Park
District
Recreation
Facilities
Improvements
GO,
5.00%,
12/01/27
............
341,725
250,000
Glenview
Park
District
Recreation
Facilities
Improvements
GO,
5.00%,
12/01/28
............
310,659
500,000
Illinois
State
Toll
Highway
Authority
Refunding
Revenue
Bonds,
Series
D,
5.00%,
01/01/24
............
556,747
3,250,000
Metropolitan
Water
Reclamation
District
of
Greater
Chicago
Current
Refunding
GO,
Series
A,
5.00%,
12/01/24
............
3,759,906
Principal
Amount
Value
Illinois
(continued)
$
2,000,000
Metropolitan
Water
Reclamation
District
of
Greater
Chicago
Refunding
GO,
Series
D,
5.00%,
12/01/22
............
$
2,128,826
850,000
Peoria
Metropolitan
Airport
Authority
Advance
Refunding
GO,
Series
D,
5.00%,
12/01/24
............
984,897
8,745,263
Indiana
—
0.3%
355,000
Center
Grove
2000
Building
Corp.
Current
Refunding
Revenue
Bonds,
(State
Aid
Intercept
Program),
5.00%,
01/10/24
............
395,504
235,000
Columbus
Multi-High
School
Building
Corp.
Refunding
Revenue
Bonds,
(State
Aid
Intercept
Program),
5.00%,
07/15/22
............
245,803
1,330,000
GCS
School
Building
Corp.
One,
First
Mortgage
Refunding
Revenue
Bonds,
(State
Aid
Intercept
Program),
5.00%,
01/15/22
............
1,358,862
250,000
GCS
School
Building
Corp.
One,
First
Mortgage
Refunding
Revenue
Bonds,
(State
Aid
Intercept
Program),
5.00%,
07/15/22
............
261,419
7,025,000
Indiana
Finance
Authority
Health
Care
Facilities
Revenue
Bonds,
0
.70%,
12/01/46
(b)
..........
7,058,913
2,000,000
Indiana
Finance
Authority
University
Health
Obligated
Group
Revenue
Bonds,
1.65%,
12/01/42
(a)(b)
........
2,012,655
11,333,156
Iowa
—
1.2%
6,110,000
Iowa
Finance
Authority
Advance
Refunding
Revenue
Bonds,
5.00%,
08/01/21
............
6,110,000
5,000,000
Iowa
Finance
Authority
Green
Bond,
Series
A,
5.00%,
08/01/35
............
6,701,370
1,750,000
Iowa
Finance
Authority
Green
Purpose
Revenue
Bonds,
Series
A,
5.00%,
08/01/27
............
2,214,926
Old
Westbury
Funds,
Inc.
Municipal
Bond
Fund
Portfolio
of
Investments
-
(Continued)
11
July
31,
2021
(Unaudited)
Principal
Amount
Value
Iowa
(continued)
$
1,425,000
Iowa
Finance
Authority
Green
Purpose
Revenue
Bonds,
Series
A,
5.00%,
08/01/28
............
$
1,852,374
1,000,000
Iowa
Finance
Authority
Green
Purpose
Revenue
Bonds,
Series
A,
5.00%,
08/01/29
............
1,331,413
1,210,000
Iowa
Finance
Authority
Green
Purpose
Revenue
Bonds,
Series
A,
5.00%,
08/01/30
............
1,646,307
1,250,000
Iowa
Finance
Authority
Green
Purpose
Revenue
Bonds,
Series
A,
5.00%,
08/01/31
............
1,738,623
2,360,000
Iowa
Finance
Authority
Green
Purpose
Revenue
Bonds,
Series
A,
5.00%,
08/01/32
............
3,271,542
3,000,000
State
of
Iowa
Advance
Refunding
Revenue
Bonds,
Series
A,
5.00%,
06/01/28
............
3,644,164
3,920,000
State
of
Iowa
Board
of
Regents
Current
Refunding
Revenue
Bonds,
5.00%,
09/01/24
............
4,497,536
4,325,000
State
of
Iowa
Board
of
Regents
Current
Refunding
Revenue
Bonds,
5.00%,
09/01/26
............
5,305,457
4,535,000
State
of
Iowa
Board
of
Regents
Current
Refunding
Revenue
Bonds,
5.00%,
09/01/27
............
5,722,285
4,785,000
State
of
Iowa
Board
of
Regents
Current
Refunding
Revenue
Bonds,
5.00%,
09/01/28
............
6,190,967
50,226,964
Kansas
—
0.1%
1,065,000
Kansas
Turnpike
Authority
Advance
Refunding
Revenue
Bonds,
Series
A,
5.00%,
09/01/31
............
1,404,980
1,260,000
Sedgwick
County
Public
Building
Commission
Technical
Education
Complex
Refunding
Revenue
Bonds,
Series
2,
5.00%,
08/01/23
............
1,383,177
2,788,157
Maine
—
0.2%
725,000
Maine
Governmental
Facilities
Authority
Facilities
Improvements
Revenue
Bonds,
Series
A,
5.00%,
10/01/23
............
800,750
Principal
Amount
Value
Maine
(continued)
$
1,000,000
Maine
Health
&
Higher
Educational
Facilities
Authority
Current
Refunding
Revenue
Bonds,
Series
A,
(AGM),
5.00%,
07/01/31
............
$
1,362,302
2,835,000
State
of
Maine
Highway
Improvements
GO,
Series
B,
5.00%,
06/01/28
............
3,660,878
3,400,000
State
of
Maine
Highway
Improvements
GO,
Series
B,
5.00%,
06/01/29
............
4,497,488
10,321,418
Maryland
—
3.4%
5,735,000
County
of
Anne
Arundel
School
Improvements
GO,
5.00%,
04/01/27
............
6,713,437
2,810,000
County
of
Anne
Arundel
School
Improvements
GO,
5.00%,
04/01/28
............
3,287,804
1,200,000
County
of
Baltimore
78th
Issue
Refunding
GO,
5.00%,
02/01/29
............
1,442,704
3,835,000
County
of
Baltimore
81st
Issue
Refunding
GO,
5.00%,
03/01/23
............
4,134,599
2,730,000
County
of
Baltimore
Refunding
GO,
5.00%,
03/01/23
............
2,943,274
2,000,000
County
of
Baltimore
Refunding
GO,
5.00%,
03/01/27
............
2,503,117
2,860,000
County
of
Charles
Public
School
Improvements
GO,
5.00%,
10/01/21
............
2,882,888
1,500,000
County
of
Frederick
Refunding
GO,
Series
A,
5.00%,
02/01/25
............
1,751,257
4,500,000
County
of
Montgomery
Advance
Refunding
GO,
Series
B,
5.00%,
06/01/23
............
4,906,026
2,000,000
County
of
Montgomery
Public
Improvements
GO,
Series
A,
5.00%,
12/01/27
............
2,316,419
3,500,000
County
of
Montgomery
Refunding
GO,
Series
A,
5
.00%,
11/01/23
............
3,885,942
3,185,000
County
of
Prince
George's
Public
School
Improvement
GO,
Series
A,
5.00%,
09/15/25
............
3,803,827
Old
Westbury
Funds,
Inc.
Municipal
Bond
Fund
Portfolio
of
Investments
-
(Continued)
12
July
31,
2021
(Unaudited)
Principal
Amount
Value
Maryland
(continued)
$
3,110,000
County
of
Prince
George's
Public
School
Improvements
GO,
Series
A,
5.00%,
07/01/24
............
$
3,549,787
1,000,000
Maryland
State
Transportation
Authority
Highway
Improvements
Revenue
Bonds,
Series
A,
5.00%,
07/01/23
............
1,093,707
945,000
Maryland
State
Transportation
Authority
Highway
Improvements
Revenue
Bonds,
Series
A,
5.00%,
07/01/24
............
1,077,742
2,750,000
Maryland
State
Transportation
Authority
Highway
Improvements
Revenue
Bonds,
Series
A,
5.00%,
07/01/29
............
3,642,053
1,000,000
Maryland
State
Transportation
Authority
Highway
Improvements
Revenue
Bonds,
Series
A,
5.00%,
07/01/30
............
1,353,139
9,255,000
State
of
Maryland
Advance
Refunding
GO,
Series
B,
5.00%,
08/01/25
............
11,005,573
6,000,000
State
of
Maryland
Department
of
Transportation
Transit
Improvements
Revenue
Bonds,
5.00%,
02/01/25
............
6,440,011
10,000,000
State
of
Maryland
Department
of
Transportation
Transit
Improvements
Revenue
Bonds,
5.00%,
11/01/26
............
11,557,051
8,035,000
State
of
Maryland
Public
Improvements
GO,
Series
A,
5.00%,
08/01/24
(a)
..........
8,819,263
1,000,000
State
of
Maryland
Public
Improvements
GO,
Series
A,
5.00%,
03/15/25
............
1,172,845
7,015,000
State
of
Maryland
Refunding
GO,
Series
2-C,
5.00%,
08/01/23
............
7,705,234
7,700,000
State
of
Maryland
School
Improvements
GO,
1st
Series,
5.00%,
06/01/23
............
8,396,245
20,000,000
State
of
Maryland
School
Improvements
GO,
Series
A,
5.00
%,
03/15/23
............
21,600,728
Principal
Amount
Value
Maryland
(continued)
$
1,675,000
University
System
of
Maryland
Current
Refunding
Revenue
Bonds,
Series
A,
5.00%,
04/01/24
............
$
1,889,580
7,500,000
Washington
Suburban
Sanitary
Commission
Water
&
Sewer
System
Improvements
GO,
(County
GTY),
5.00%,
06/01/22
............
7,806,929
5,000,000
Washington
Suburban
Sanitary
Commission
Water
&
Sewer
System
Improvements
GO,
2nd
Series,
(County
GTY),
5.00%,
06/01/25
............
5,910,003
143,591,184
Massachusetts
—
3.4%
13,025,000
Commonwealth
of
Massachusetts
Advance
Refunding
GO,
Series
B,
5.00%,
07/01/31
............
15,832,200
9,330,000
Commonwealth
of
Massachusetts
Advance
Refunding
GO,
Series
C,
5.00%,
10/01/26
............
11,517,378
835,000
Commonwealth
of
Massachusetts
Advance
Refunding
GO,
Series
E,
5.00%,
11/01/23
............
926,675
3,900,000
Commonwealth
of
Massachusetts
Highway
Improvements
Revenue
Bonds,
Series
B,
5.00%,
06/15/22
............
4,067,102
2,000,000
Commonwealth
of
Massachusetts
Public
Improvements
GO,
Series
C,
5.00%,
07/01/32
............
2,355,105
8,000,000
Commonwealth
of
Massachusetts
Refunding
GO,
Series
C,
(AGM),
5.25%,
11/01/26
............
10,004,894
5,000,000
Commonwealth
of
Massachusetts
Transportation
Fund
Advance
Refunding
Revenue
Bonds,
Series
A,
5.00%,
06/01/27
............
6,077,749
280,000
Commonwealth
of
Massachusetts
Water
Utility
Improvements
GO,
Series
I,
5.00%,
12/01/28
............
346,152
1,000,000
Massachusetts
Bay
Transportation
Authority
Advance
Refunding
Revenue
Bonds,
Senior
Series
B,
5.00%,
07/01/33
............
1,173,992
Old
Westbury
Funds,
Inc.
Municipal
Bond
Fund
Portfolio
of
Investments
-
(Continued)
13
July
31,
2021
(Unaudited)
Principal
Amount
Value
Massachusetts
(continued)
$
2,000,000
Massachusetts
Bay
Transportation
Authority
Transit
Improvements
Revenue
Bonds,
Series
A-1,
5.00%,
07/01/24
............
$
2,280,934
1,500,000
Massachusetts
Bay
Transportation
Authority
Transit
Improvements
Revenue
Bonds,
Series
A-1,
5.00%,
07/01/25
............
1,774,510
1,000,000
Massachusetts
Bay
Transportation
Authority
Transit
Improvements
Revenue
Bonds,
Series
A-1,
5.00%,
07/01/26
............
1,223,597
1,000,000
Massachusetts
Bay
Transportation
Authority
Transit
Improvements
Revenue
Bonds,
Series
A-1,
5.00%,
07/01/28
............
1,294,035
7,280,000
Massachusetts
Clean
Water
Trust
Advance
Green
Revenue
Bond,
Series
2020,
5.00%,
02/01/36
............
8,434,037
8,000,000
Massachusetts
Clean
Water
Trust
Advance
Green
Revenue
Bond,
Sub
Series
2017A,
5.00%,
02/01/33
............
8,564,612
9,500,000
Massachusetts
Clean
Water
Trust
Advance
Refunding
Revenue
Bonds,
Series
2017,
5.00%,
08/01/21
............
9,500,000
3,325,000
Massachusetts
Clean
Water
Trust
Current
Refunding
Revenue
Bond,
5.00%,
08/01/31
............
4,516,998
2,265,000
Massachusetts
Clean
Water
Trust
Revenue
Bond,
Series
23B,
5.00%,
02/01/29
............
2,986,649
2,380,000
Massachusetts
Clean
Water
Trust
Revenue
Bond,
Series
23B,
5.00%,
02/01/30
............
3,211,290
5,035,000
Massachusetts
Clean
Water
Trust
Revenue
Bond,
Series
23B,
5.00%,
02/01/32
............
6,919,755
5,000,000
Massachusetts
Development
Finance
Agency
Advance
Refunding
Revenue
Bonds,
Series
A,
5.00%,
07/15/33
............
6,086,778
10,000,000
Massachusetts
Development
Finance
Agency
Advance
Refunding
Revenue
Bonds,
Series
A,
5.00%,
10/15/27
............
12,799,675
Principal
Amount
Value
Massachusetts
(continued)
$
4,050,000
Massachusetts
Development
Finance
Agency
Current
Refunding
Revenue
Bonds,
Series
A,
5.00%,
10/15/26
............
$
5,029,140
3,500,000
Massachusetts
Development
Finance
Agency
University
&
College
Improvements
Revenue
Bonds,
0.45%,
07/01/41
(b)
..........
3,509,478
1,000,000
Massachusetts
Port
Authority
Current
Refunding
Revenue
Bonds,
Series
A,
5.00%,
07/01/37
............
1,350,451
1,500,000
Massachusetts
Port
Authority
Current
Refunding
Revenue
Bonds,
Series
B,
5.00%,
07/01/36
............
1,990,739
1,000,000
Massachusetts
Port
Authority
Current
Refunding
Revenue
Bonds,
Series
B,
5.00%,
07/01/37
............
1,321,997
3,500,000
Massachusetts
School
Building
Authority
Refunding
Revenue
Bonds,
Senior
Series
A,
5.00%,
08/15/23
............
3,677,239
500,000
Massachusetts
Water
Resources
Authority
Refunding
Revenue
Bonds,
Series
A,
5.00%,
08/01/22
............
524,617
3,050,000
Massachusetts
Water
Resources
Authority
Refunding
Revenue
Bonds,
Series
C,
5.00%,
08/01/22
............
3,200,166
142,497,944
Michigan
—
0.2%
225,000
Allegan
Public
School
District
Current
Refunding
GO,
(Q-SBLF),
5.00%,
05/01/25
............
264,126
200,000
Caledonia
Community
Schools
Refunding
GO,
(Q-SBLF),
5.00%,
05/01/23
............
217,007
950,000
L'Anse
Creuse
Public
Schools
Current
Refunding
GO,
(Q-SBLF),
5.00%,
05/01/23
............
1,029,388
1,000,000
Michigan
State
Building
Authority
Current
Refunding
Revenue
Bonds,
(Facilities
Program),
5.00%,
10/15/21
............
1,009,872
Old
Westbury
Funds,
Inc.
Municipal
Bond
Fund
Portfolio
of
Investments
-
(Continued)
14
July
31,
2021
(Unaudited)
Principal
Amount
Value
Michigan
(continued)
$
1,000,000
Michigan
State
Building
Authority
Current
Refunding
Revenue
Bonds,
(Facilities
Program),
5.00%,
04/15/24
............
$
1,130,465
1,000,000
Michigan
State
University
Refunding
Revenue
Bonds,
Series
A,
5.00%,
08/15/31
............
1,174,949
1,000,000
University
of
Michigan
Advance
Refunding
Revenue
Bonds,
Series
A,
5.00%,
04/01/22
............
1,032,764
3,000,000
University
of
Michigan
University
&
College
Improvements
Revenue
Bonds,
Series
A,
5.00%,
04/01/26
............
3,647,330
290,000
Wayne-Westland
Community
Schools
Improvements
GO,
(Q-SBLF),
5.00%,
11/01/22
............
307,551
9,813,452
Minnesota
—
1.2%
600,000
Cambridge-Isanti
Independent
School
District
No
911
Crossover
Refunding
GO,
Series
D,
(School
District
Credit
Program),
5.00%,
02/01/25
............
697,079
1,515,000
Cambridge-Isanti
Independent
School
District
No
911
School
Building
Refunding
GO,
Series
D,
(School
District
Credit
Program),
5.00%,
02/01/24
............
1,694,635
2,000,000
City
of
Rochester
Advance
Refunding
GO,
Series
B,
5.00%,
12/01/24
............
2,318,128
10,000,000
Metropolitan
Council
Transit
Improvements
GO,
Series
B,
5.00%,
12/01/23
............
11,137,067
10,000,000
Metropolitan
Council
Transit
Improvements
GO,
Series
B,
5.00%,
12/01/24
............
11,594,260
1,815,000
Minnesota
Public
Facilities
Authority
Advance
Refunding
Revenue
Bonds,
Series
B,
5.00%,
03/01/27
............
2,197,752
2,535,000
Robbinsdale
Independent
School
District
No
281
Current
Refunding
GO,
Series
A,
(School
District
Credit
Program),
5.00%,
02/01/23
............
2,719,459
Principal
Amount
Value
Minnesota
(continued)
$
2,805,000
Robbinsdale
Independent
School
District
No
281
Current
Refunding
GO,
Series
A,
(School
District
Credit
Program),
5.00%,
02/01/24
............
$
3,143,574
2,200,000
Sartell-St
Stephen
Independent
School
District
No
748
GO,
Series
A,
(School
District
Credit
Program),
5.00%,
02/01/25
............
2,560,133
1,500,000
State
of
Minnesota
Advance
Refunding
GO,
Series
D,
5.00%,
08/01/25
............
1,785,043
2,335,000
State
of
Minnesota
Advance
Refunding
GO,
Series
D,
5.00%,
08/01/23
............
2,564,750
2,870,000
State
of
Minnesota
Highway
Improvements
GO,
Series
B,
5.00%,
10/01/23
............
3,175,145
1,395,000
State
of
Minnesota
Public
Improvements
COP,
5.00%,
06/01/24
............
1,585,194
2,910,000
State
of
Minnesota
Public
Improvements
COP,
5.00%,
06/01/26
............
3,293,478
1,000,000
Waconia
Independent
School
District
No
110
Refunding
GO,
Series
A,
(School
District
Credit
Program),
5.00%,
02/01/24
............
1,119,103
51,584,800
Mississippi
—
0.3%
2,310,000
Mississippi
Development
Bank
Harrison
County
Highway
Refunding
Revenue
Bonds,
Series
A,
5.00%,
01/01/25
............
2,670,488
10,000,000
State
of
Mississippi
Public
Improvements
GO,
Series
B,
5.00%,
12/01/31
(a)
..........
11,136,500
13,806,988
Missouri
—
0.4%
4,890,000
Curators
of
the
University
of
Missouri
Refunding
Revenue
Bonds,
Series
B,
5.00%,
11/01/30
............
6,656,191
4,000,000
Health
&
Educational
Facilities
Authority
of
the
State
of
Missouri
Current
Refunding
Revenue
Bonds,
Series
A,
5.00%,
07/01/31
............
5,458,176
Old
Westbury
Funds,
Inc.
Municipal
Bond
Fund
Portfolio
of
Investments
-
(Continued)
15
July
31,
2021
(Unaudited)
Principal
Amount
Value
Missouri
(continued)
$
600,000
Health
&
Educational
Facilities
Authority
of
the
State
of
Missouri
Refunding
Revenue
Bonds,
Series
A,
5.00%,
02/15/27
............
$
739,186
400,000
Health
&
Educational
Facilities
Authority
of
the
State
of
Missouri
Refunding
Revenue
Bonds,
Series
A,
5.00
%,
02/15/31
............
512,356
905,000
Missouri
State
Environmental
Improvement
&
Energy
Resources
Authority
Advance
Refunding
Revenue
Bonds,
Series
B,
5.00%,
01/01/25
............
1,049,911
2,000,000
Missouri
State
Health
&
Educational
Facilities
Authority
Columbia
Arena
Project
Refunding
Revenue
Bonds,
5.00%,
10/01/21
............
2,015,643
500,000
North
Kansas
City
School
District
No
74
School
Improvements
Refunding
GO,
(State
Aid
Direct
Deposit),
5.00%,
03/01/24
............
562,415
16,993,878
Montana
—
0.1%
1,000,000
State
of
Montana
Public
Facilities
GO,
Series
G,
5.00%,
08/01/27
............
1,264,322
1,500,000
State
of
Montana
Public
Facilities
GO,
Series
G,
5.00%,
08/01/28
............
1,947,484
3,211,806
Nevada
—
0.2%
5,180,000
Las
Vegas
Valley
Water
District
Current
Refunding
GO,
Series
A,
5.00%,
06/01/30
............
6,986,930
New
Hampshire
—
0.2%
3,990,000
State
of
New
Hampshire
Public
Improvements
GO,
Series
B,
5.00%,
12/01/21
............
4,054,809
3,990,000
State
of
New
Hampshire
Public
Improvements
GO,
Series
B,
5.00%,
12/01/22
............
4,251,989
8,306,798
Principal
Amount
Value
New
Jersey
—
3.3%
$
1,060,000
County
of
Ocean
Current
Refunding
GO,
Series
B,
4.00%,
08/01/24
............
$
1,181,959
1,825,000
County
of
Ocean
Public
Improvements
GO,
Series
A,
5.00%,
08/01/24
............
2,089,484
1,255,000
County
of
Ocean
Public
Improvements
GO,
Series
A,
5.00%,
08/01/25
............
1,491,279
1,340,000
County
of
Ocean
Public
Improvements
GO,
Series
A,
5.00%,
08/01/27
............
1,697,812
1,000,000
Monmouth
County
Improvement
Authority
Cash
Flow
Management
Revenue
Bonds,
Series
B,
(County
GTY),
5.00%,
12/01/23
............
1,113,210
1,000,000
Monmouth
County
Improvement
Authority
Cash
Flow
Management
Revenue
Bonds,
Series
B,
(County
GTY),
5.00%,
12/01/24
............
1,158,702
200,000
Monmouth
County
Improvement
Authority
Refunding
Revenue
Bonds
(County
GTY,
Municipal
Government
GTY),
5.00%,
12/01/22
............
213,021
5,000,000
New
Jersey
Economic
Development
Authority
Advance
Refunding
Revenue
Bonds,
Series
B,
5.00%,
11/01/21
............
5,058,694
3,295,000
New
Jersey
Economic
Development
Authority
Refunding
Revenue
Bonds,
Series
GG,
5
.00%,
09/01/21
............
3,304,672
5,095,000
New
Jersey
Educational
Facilities
Authority
Current
Refunding
Revenue
Bonds,
Series
C,
5.00%,
03/01/31
............
7,043,711
4,920,000
New
Jersey
Educational
Facilities
Authority
University
&
College
Improvements
Revenue
Bonds,
Series
A,
5.00%,
09/01/22
............
5,174,199
1,500,000
New
Jersey
Health
Care
Facilities
Financing
Authority
Revenue
Bonds,
5.00%,
07/01/23
............
1,638,135
Old
Westbury
Funds,
Inc.
Municipal
Bond
Fund
Portfolio
of
Investments
-
(Continued)
16
July
31,
2021
(Unaudited)
Principal
Amount
Value
New
Jersey
(continued)
$
1,000,000
New
Jersey
Health
Care
Facilities
Financing
Authority
RWJ
Barnabas
Health
System
Obligated
Group
Refunding
Revenue
Bonds,
5.00%,
07/01/23
............
$
1,093,707
4,455,000
New
Jersey
Infrastructure
Bank
Green
Purpose
Revenue
Bonds,
5.00%,
09/01/26
............
5,490,122
1,855,000
New
Jersey
Transit
Corp.
Refunding
Revenue
Bonds,
Series
A,
5.00%,
09/15/21
............
1,864,619
10,300,000
New
Jersey
Transportation
Trust
Fund
Authority
Current
Refunding
Revenue
Bonds,
Series
A,
5.00%,
06/15/23
............
11,210,408
5,000,000
New
Jersey
Transportation
Trust
Fund
Authority
Refunding
Revenue
Bonds,
(NATL-RE),
5.25%,
12/15/21
............
5,092,614
3,860,000
New
Jersey
Transportation
Trust
Fund
Authority
Refunding
Revenue
Bonds,
Series
A,
5.50%,
12/15/21
............
3,935,033
2,000,000
New
Jersey
Transportation
Trust
Fund
Authority
Refunding
Revenue
Bonds,
Series
A,
5.25%,
12/15/21
............
2,037,046
7,750,000
New
Jersey
Transportation
Trust
Fund
Authority
Refunding
Revenue
Bonds,
Series
B,
(NATL-RE),
5.50%,
12/15/21
............
7,900,648
100,000
New
Jersey
Transportation
Trust
Fund
Authority
Refunding
Revenue
Bonds,
Series
D,
5.00%,
12/15/23
............
111,181
1,770,000
New
Jersey
Transportation
Trust
Fund
Authority
Transit
Improvements
Refunding
Revenue
Bonds,
Series
A,
5.25%,
12/15/22
............
1,891,852
9,000,000
New
Jersey
Turnpike
Authority
Advance
Refunding
Revenue
Bonds,
Series
B,
1.28%,
01/01/27
............
9,066,414
5,500,000
New
Jersey
Turnpike
Authority
Advance
Refunding
Revenue
Bonds,
Series
B,
1.81%,
01/01/30
............
5,570,958
Principal
Amount
Value
New
Jersey
(continued)
$
3,500,000
New
Jersey
Turnpike
Authority
Advance
Refunding
Revenue
Bonds,
Series
B,
1.86%,
01/01/31
............
$
3,535,807
1,000,000
New
Jersey
Turnpike
Authority
Advance
Refunding
Revenue
Bonds,
Series
B,
5.00%,
01/01/27
............
1,236,172
2,380,000
New
Jersey
Turnpike
Authority
Current
Refunding
Revenue
Bonds,
Series
C,
5.00%,
01/01/25
............
2,754,927
2,775,000
New
Jersey
Turnpike
Authority
Highway
Improvements
Revenue
Bonds
Series
A,
5.00%,
01/01/27
............
3,430,376
2,500,000
New
Jersey
Turnpike
Authority
Highway
Improvements
Revenue
Bonds
Series
A,
5.00%,
01/01/29
............
3,072,823
2,145,000
New
Jersey
Turnpike
Authority
Highway
Improvements
Revenue
Bonds
Series
A,
5.00%,
01/01/29
............
2,434,202
3,250,000
New
Jersey
Turnpike
Authority
Highway
Improvements
Revenue
Bonds,
Series
E,
5.00%,
01/01/32
............
3,745,209
3,000,000
New
Jersey
Turnpike
Authority
Highway
Improvements
Revenue
Bonds,
Series
E,
5.00%,
01/01/33
............
3,456,014
4,000,000
New
Jersey
Turnpike
Authority
Highway
Improvements
Revenue
Bonds,Series
A,
5.00%,
01/01/34
............
4,889,518
2,000,000
Rutgers
The
State
University
of
New
Jersey
Advance
Refunding
Revenue
Bonds,
Series
S,
1.66%,
05/01/28
............
2,038,461
20,000,000
State
of
New
Jersey
COVID-19
GO,
Series
A,
(State
Aid
Withholding),
5.00%,
06/01/24
............
22,665,942
139,688,931
New
Mexico
—
0.0%
500,000
Albuquerque
Municipal
School
District
No
12
School
Improvements
GO,
Series
2017,
(State
Aid
Withholding),
5.00%,
08/01/24
............
571,329
Old
Westbury
Funds,
Inc.
Municipal
Bond
Fund
Portfolio
of
Investments
-
(Continued)
17
July
31,
2021
(Unaudited)
Principal
Amount
Value
New
Mexico
(continued)
$
1,000,000
Hobbs
School
District
No
16
School
Improvements
GO,
Series
A,
(State
Aid
Withholding),
5.00%,
09/15/28
............
$
1,141,311
1,712,640
New
York
—
16.5%
10,000
City
of
New
York
Advance
Refunding
GO,
Series
C,
5.00%,
08/01/26
............
12,274
10,025,000
City
of
New
York
Advance
Refunding
GO,
Series
C,
5.00%,
08/01/21
............
10,025,000
30,000,000
City
of
New
York
Advance
Refunding
GO,
Series
C,
5.00%,
08/01/22
............
31,473,951
9,005,000
City
of
New
York
Current
Refunding
GO,
Series
A-1,
5.00%,
08/01/30
............
12,150,195
15,000,000
City
of
New
York
Current
Refunding
GO,
Series
E,
5.00%,
08/01/23
............
16,466,394
9,400,000
City
of
New
York
Current
Refunding
GO,
Series
E,
5
.00%,
08/01/24
............
10,756,188
8,000,000
City
of
New
York
GO,
Sub-Series
B-3,
0.13%,
10/01/46
(b)
..........
8,000,000
1,400,000
City
of
New
York
Public
Improvements
GO,
Series
I,
Subseries
I-A,
5.00%,
04/01/28
(c)
..........
1,796,984
2,000,000
City
of
New
York
Public
Improvements
GO,
Series
I,
Subseries
I-A,
5.00%,
04/01/29
(c)
..........
2,626,791
2,910,000
City
of
New
York
Public
Improvements
GO,
Sub-Series
D-1,
5.00%,
08/01/22
............
3,052,973
32,750,000
City
of
New
York
Public
Improvements
GO,
Sub-Series
D-3,
5.00%,
08/01/38
(b)(c)
........
35,744,568
2,135,000
City
of
New
York
Public
Improvements
GO,
Sub-Series
F-1,
5.00%,
03/01/24
............
2,297,193
650,000
City
of
New
York
Refunding
GO,
Series
C,
5.00%,
08/01/22
............
681,936
Principal
Amount
Value
New
York
(continued)
$
8,170,000
City
of
New
York
Refunding
GO,
Series
D,
5.00%,
08/01/22
............
$
8,571,406
3,575,000
City
of
New
York
Refunding
GO,
Series
F,
5.00%,
08/01/29
............
3,660,424
2,500,000
City
of
New
York
Refunding
GO,
Series
G,
5.00%,
08/01/21
............
2,500,000
18,500,000
City
of
New
York
Refunding
GO,
Series
G,
5.00%,
08/01/22
............
19,408,936
5,000,000
City
of
New
York
Refunding
GO,
Series
I,
5.00%,
08/01/25
............
5,484,572
9,450,000
City
of
New
York
Refunding
GO,
Series
J,
Sub-Series
J11,
5.00%,
08/01/25
(c)
..........
11,220,851
2,055,000
Metropolitan
Transportation
Authority
Advance
Refunding
Revenue
Bonds,
Series
A,
5.25%,
11/15/31
............
2,521,155
240,000
Metropolitan
Transportation
Authority
Current
Refunding
Revenue
Bonds,
Series
D,
5.00%,
11/15/28
............
291,489
1,020,000
Metropolitan
Transportation
Authority
Current
Refunding
Revenue
Bonds,
Series
D,
5.00%,
11/15/29
............
1,234,065
3,020,000
Metropolitan
Transportation
Authority
Current
Refunding
Revenue
Bonds,
Series
F,
5.00%,
11/15/30
............
3,186,030
300,000
Metropolitan
Transportation
Authority
Green
Purpose
Revenue
Bonds,
Series
A1,
5.00%,
11/15/27
............
371,641
24,000,000
Metropolitan
Transportation
Authority
Refunding
Revenue
Bonds,
Series
A-2,
5.00%,
11/15/48
(b)
..........
25,350,631
940,000
Metropolitan
Transportation
Authority
Refunding
Revenue
Bonds,
Series
C-1,
5.00%,
11/15/27
............
1,178,237
24,820,000
Metropolitan
Transportation
Authority
Refunding
Revenue
Bonds,
Series
D-1,
5.00%,
09/01/22
............
26,090,866
Old
Westbury
Funds,
Inc.
Municipal
Bond
Fund
Portfolio
of
Investments
-
(Continued)
18
July
31,
2021
(Unaudited)
Principal
Amount
Value
New
York
(continued)
$
1,925,000
Metropolitan
Transportation
Authority
Refunding
Revenue
Bonds,
Series
F,
5.00%,
11/15/21
............
$
1,950,818
1,910,000
Metropolitan
Transportation
Authority
Transit
Improvements
Revenue
Bonds,
Series
C,
5.00%,
11/15/21
............
1,935,617
6,250,000
Nassau
County
Interim
Finance
Authority
Current
Refunding
Revenue
Bonds,
Series
A,
5.00%,
11/15/34
............
8,578,456
4,000,000
Nassau
County
Interim
Finance
Authority
Current
Refunding
Revenue
Bonds,
Series
B,
1.46%,
11/15/29
............
4,028,218
500,000
New
York
City
Transitional
Finance
Authority
Building
Aid
Revenue
Current
Refunding
Revenue
Bonds,
Series
S-4A,
(State
Aid
Withholding),
5.00%,
07/15/30
............
643,384
700,000
New
York
City
Transitional
Finance
Authority
Building
Aid
Revenue
Public
Improvements
Revenue
Bonds,
Series
S,
(State
Aid
Withholding),
5.00%,
07/15/26
............
813,514
2,500,000
New
York
City
Transitional
Finance
Authority
Building
Aid
Revenue
Public
Improvements
Revenue
Bonds,
Series
S-1,
(State
Aid
Withholding),
5.00%,
07/15/24
............
2,855,859
7,500,000
New
York
City
Transitional
Finance
Authority
Building
Aid
Revenue
Refunding
Revenue
Bonds,
Sub-Series
S-3,
(State
Aid
Withholding),
5.00%,
07/15/28
............
9,687,925
1,850,000
New
York
City
Transitional
Finance
Authority
Building
Aid
Revenue
Refunding
Revenue
Bonds,
Sub-Series
S-4A,
(State
Aid
Withholding),
5.00%,
07/15/25
............
2,192,713
Principal
Amount
Value
New
York
(continued)
$
1,670,000
New
York
City
Transitional
Finance
Authority
Building
Aid
Revenue
School
Improvements
Revenue
Bonds,
Series
S1,
(State
Aid
Withholding),
5.00%,
07/15/24
............
$
1,907,708
3,270,000
New
York
City
Transitional
Finance
Authority
Building
Aid
Revenue
School
Improvements
Revenue
Bonds,
Series
S1,
(State
Aid
Withholding),
5.00%,
07/15/28
............
4,223,935
2,750,000
New
York
City
Transitional
Finance
Authority
Building
Aid
Revenue
School
Improvements
Revenue
Bonds,
Series
S1,
(State
Aid
Withholding),
5.00%,
07/15/29
............
3,628,926
2,285,000
New
York
City
Transitional
Finance
Authority
Building
Aid
Revenue
School
Improvements
Revenue
Bonds,
Series
S1,
(State
Aid
Withholding),
5.00%,
07/15/30
............
3,076,662
1,350,000
New
York
City
Transitional
Finance
Authority
Future
Tax
Secured
Advanced
Refunding
Revenue
Bonds,
Series
C,
5.00%,
11/01/23
............
1,498,540
10,000,000
New
York
City
Transitional
Finance
Authority
Future
Tax
Secured
Refunding
Revenue
Bonds,
Sub-
Series
B,
5.00%,
11/01/21
............
10,121,144
2,425,000
New
York
City
Transitional
Finance
Authority
Future
Tax
Secured
Refunding
Revenue
Bonds,
Sub-
Series
G,
5.00%,
11/01/21
............
2,454,377
1,535,000
New
York
City
Transitional
Finance
Authority
Future
Tax
Secured
Refunding
Revenue
Bonds,
Sub-
Series
H,
5.00%,
11/01/21
............
1,553,596
4,000,000
New
York
City
Transitional
Finance
Authority
Future
Tax
Secured
Revenue
Current
Refunding
Revenue
Bonds,
5.00%,
11/01/21
............
4,048,458
Old
Westbury
Funds,
Inc.
Municipal
Bond
Fund
Portfolio
of
Investments
-
(Continued)
19
July
31,
2021
(Unaudited)
Principal
Amount
Value
New
York
(continued)
$
9,500,000
New
York
City
Transitional
Finance
Authority
Future
Tax
Secured
Revenue
Current
Refunding
Revenue
Bonds,
5.00%,
11/01/22
............
$
10,084,803
4,210,000
New
York
City
Transitional
Finance
Authority
Future
Tax
Secured
Revenue
Public
Improvements
Revenue
Bonds,
5.00%,
02/01/29
............
4,708,061
9,000,000
New
York
City
Transitional
Finance
Authority
Future
Tax
Secured
Revenue
Public
Improvements
Revenue
Bonds,
5.00%,
02/01/31
............
11,070,852
1,000,000
New
York
City
Transitional
Finance
Authority
Future
Tax
Secured
Revenue
Public
Improvements
Revenue
Bonds,
Series
C1,
5.00%,
11/01/30
............
1,308,988
3,545,000
New
York
City
Water
&
Sewer
System
Current
Refunding
Revenue
Bonds,
Series
AA,
5.00%,
06/15/24
............
4,041,199
1,000,000
New
York
City
Water
&
Sewer
System
Current
Refunding
Revenue
Bonds,
Series
DD,
5.00%,
06/15/29
............
1,328,419
500,000
New
York
City
Water
&
Sewer
System
Current
Refunding
Revenue
Bonds,
Series
EE,
5.00%,
06/15/29
............
597,554
1,000,000
New
York
City
Water
&
Sewer
System
Refunding
Revenue
Bonds,
Series
DD-2,
5.00%,
06/15/25
............
1,115,781
2,350,000
New
York
City
Water
&
Sewer
System
Water
Utility
Improvements
Revenue
Bonds,
Series
AA-2,
5.00
%,
06/15/30
............
3,188,876
6,200,000
New
York
City
Water
&
Sewer
System
Water
Utility
Improvements
Revenue
Bonds,
Series
BB-2,
5.00%,
06/15/25
............
6,917,840
1,000,000
New
York
City
Water
&
Sewer
System
Water
Utility
Improvements
Revenue
Bonds,
Series
DD-2,
5.00%,
06/15/24
............
1,067,289
Principal
Amount
Value
New
York
(continued)
$
5,000,000
New
York
Municipal
Bond
Bank
Agency
Refunding
Revenue
Bonds,
(State
Aid
Withholding),
5.00%,
12/01/21
............
$
5,081,382
150,000
New
York
State
Dormitory
Authority
Advance
Refunding
Revenue
Bonds,
5.00%,
08/15/23
............
163,013
9,100,000
New
York
State
Dormitory
Authority
Advance
Refunding
Revenue
Bonds,
Series
A,
5.00%,
03/15/23
............
9,825,235
7,790,000
New
York
State
Dormitory
Authority
Advance
Refunding
Revenue
Bonds,
Series
E,
5.00%,
03/15/22
............
8,027,579
2,000,000
New
York
State
Dormitory
Authority
Advance
Refunding
Revenue
Bonds,
Series
E,
5.00%,
03/15/31
............
2,365,112
5,000,000
New
York
State
Dormitory
Authority
Current
Refunding
Revenue
Bonds,
Series
1
(State
Aid
Withholding),
5.00%,
01/15/30
............
6,309,019
500,000
New
York
State
Dormitory
Authority
Current
Refunding
Revenue
Bonds,
Series
1,
(State
Aid
Withholding),
5.00%,
01/15/28
............
631,411
8,770,000
New
York
State
Dormitory
Authority
Public
Improvement
Revenue
Bonds,
Series
A-Group
A,
5.00%,
03/15/22
............
9,037,467
5,000,000
New
York
State
Dormitory
Authority
Public
Improvements
Revenue
Bonds,
Series
B,
5.00%,
02/15/28
............
5,807,483
800,000
New
York
State
Dormitory
Authority
Refunding
Revenue
Bonds,
5.00%,
08/15/21
............
801,319
4,660,000
New
York
State
Dormitory
Authority
Refunding
Revenue
Bonds,
Series
A,
5.00%,
02/15/26
............
5,223,241
6,600,000
New
York
State
Dormitory
Authority
School
Improvement
Refunding
Revenue
Bonds,
Series
E,
5.00%,
03/15/30
............
8,550,146
Old
Westbury
Funds,
Inc.
Municipal
Bond
Fund
Portfolio
of
Investments
-
(Continued)
20
July
31,
2021
(Unaudited)
Principal
Amount
Value
New
York
(continued)
$
12,000,000
New
York
State
Dormitory
Authority
School
Improvement
Revenue
Bonds,
Group
2,
Series
A,
5.00%,
03/15/29
............
$
15,372,361
1,000,000
New
York
State
Dormitory
Authority
School
Improvement
Revenue
Bonds,
Series
A,
5.00%,
02/15/27
............
1,231,164
6,290,000
New
York
State
Dormitory
Authority
School
Improvement
Revenue
Bonds,
Series
A,
5.00%,
03/15/27
............
7,879,224
4,185,000
New
York
State
Dormitory
Authority
School
Improvement
Revenue
Bonds,
Series
A,
5.00%,
03/15/28
............
5,382,642
5,200,000
New
York
State
Dormitory
Authority
School
Improvement
Revenue
Bonds,
Series
A,
5.00%,
03/15/25
............
5,861,373
22,680,000
New
York
State
Dormitory
Authority
School
Improvement
Revenue
Bonds,
Series
C,
5.00%,
03/15/27
............
28,410,302
13,375,000
New
York
State
Dormitory
Authority
School
Improvement
Revenue
Bonds,
Series
D,
5.00%,
02/15/25
............
15,635,053
6,325,000
New
York
State
Dormitory
Authority
School
Improvements
Revenue
Bonds,
Series
C,
5.00%,
03/15/30
............
8,065,730
7,305,000
New
York
State
Dormitory
Authority
University
&
College
Improvements
Revenue
Bonds,
Series
A,
5.00%,
03/15/22
............
7,527,788
1,750,000
New
York
State
Dormitory
Authority
University
and
College
Improvements
Revenue
Bonds,
Series
A,
5.00%,
03/15/26
............
1,972,577
2,500,000
New
York
State
Environmental
Facilities
Corp.
Current
Refunding
Revenue
Bonds,
5.00%,
06/15/28
............
3,235,295
1,500,000
New
York
State
Environmental
Facilities
Corp.
Current
Refunding
Revenue
Bonds,
5.00%,
06/15/29
............
1,988,584
Principal
Amount
Value
New
York
(continued)
$
2,250,000
New
York
State
Environmental
Facilities
Corp.
Current
Refunding
Revenue
Bonds,
5.00%,
06/15/30
............
$
3,048,600
2,250,000
New
York
State
Environmental
Facilities
Corp.
Current
Refunding
Revenue
Bonds,
5.00%,
06/15/31
............
3,123,227
5,000,000
New
York
State
Environmental
Facilities
Corp.
Current
Refunding
Revenue
Bondss,
5.00%,
06/15/29
............
5,675,138
2,000,000
New
York
State
Urban
Development
Corp.
Advance
Refunding
Revenue
Bonds,
Series
A,
5.00%,
03/15/24
............
2,255,106
2,105,000
New
York
State
Urban
Development
Corp.
Advance
Refunding
Revenue
Bonds,
Series
A,
5.00%,
03/15/27
............
2,537,151
1,000,000
New
York
State
Urban
Development
Corp.
Current
Refunding
Revenue
Bonds,
Series
A,
5.00%,
03/15/28
............
1,186,153
4,000,000
New
York
State
Urban
Development
Corp.
Economic
Improvements
Revenue
Bonds,
5.00%,
03/15/28
............
5,144,699
5,000,000
New
York
State
Urban
Development
Corp.
Economic
Improvements
Revenue
Bonds,
5.00%,
03/15/29
............
6,588,186
5,000,000
New
York
State
Urban
Development
Corp.
Economic
Improvements
Revenue
Bonds,
5.00%,
03/15/31
............
6,754,725
10,000,000
New
York
State
Urban
Development
Corp.
Economic
Improvements
Revenue
Bonds,
5.00%,
03/15/32
............
13,449,715
5,875,000
New
York
State
Urban
Development
Corp.
Personal
Income
Tax
Advance
Refunding
Revenue,
Series
A,
5.00%,
03/15/25
............
6,889,090
5,605,000
New
York
State
Urban
Development
Corp.
Personal
Income
Tax
Economic
Improvements
Revenue
Bonds,
Series
C,
5
.00%,
03/15/22
............
5,775,941
Old
Westbury
Funds,
Inc.
Municipal
Bond
Fund
Portfolio
of
Investments
-
(Continued)
21
July
31,
2021
(Unaudited)
Principal
Amount
Value
New
York
(continued)
$
4,705,000
New
York
State
Urban
Development
Corp.
Public
Improvement
Revenue
Bonds,
Series
A-1,
5.00%,
03/15/22
............
$
4,848,493
19,725,000
Port
Authority
of
New
York
&
New
Jersey
Cash
Flow
Management
Revenue
Bonds,
Series
AAA,
1.09%,
07/01/23
............
20,003,420
3,500,000
Port
Authority
of
New
York
&
New
Jersey
Current
Refunding
Revenue
Bonds,
Series
223,
5.00%,
07/15/30
............
4,665,138
6,915,000
Port
Authority
of
New
York
&
New
Jersey
Current
Refunding
Revenue
Bonds,
Series
223,
5.00%,
07/15/31
............
9,404,484
8,000,000
Port
Authority
of
New
York
&
New
Jersey
Current
Refunding
Revenue
Bonds,
Series
223,
5.00%,
07/15/32
............
10,825,402
5,715,000
Port
Authority
of
New
York
&
New
Jersey
Refunding
Revenue
Bonds,
Series
179,
5.00%,
12/01/27
............
6,354,897
5,880,000
Port
Authority
of
New
York
&
New
Jersey
Refunding
Revenue
Bonds,
Series
179,
5.00%,
12/01/28
............
6,532,539
3,270,000
Port
Authority
of
New
York
&
New
Jersey
Refunding
Revenue
Bonds,
Series
221,
5.00%,
07/15/22
............
3,420,316
3,800,000
Port
Authority
of
New
York
&
New
Jersey
Refunding
Revenue
Bonds,
Series
221,
5.00%,
07/15/23
............
4,153,085
1,000,000
Port
Authority
of
New
York
&
New
Jersey
Refunding
Revenue
Bonds,
Series
221,
5.00%,
07/15/24
............
1,136,523
4,195,000
Port
Authority
of
New
York
&
New
Jersey
Refunding
Revenue
Bonds,
Series
221,
5.00%,
07/15/25
............
4,933,353
4,885,000
Port
Authority
of
New
York
&
New
Jersey
Refunding
Revenue
Bonds,
Series
221,
5.00%,
07/15/26
............
5,925,829
Principal
Amount
Value
New
York
(continued)
$
5,255,000
Port
Authority
of
New
York
&
New
Jersey
Refunding
Revenue
Bonds,
Series
221,
5.00%,
07/15/27
............
$
6,555,172
3,340,000
Port
Authority
of
New
York
&
New
Jersey
Refunding
Revenue
Bonds,
Series
221,
5.00%,
07/15/28
............
4,268,838
5,750,000
Port
Authority
of
New
York
&
New
Jersey
Refunding
Revenue
Bonds,
Series
221,
5.00%,
07/15/29
............
7,503,096
6,020,000
Port
Authority
of
New
York
&
New
Jersey
Refunding
Revenue
Bonds,
Series
221,
5.00%,
07/15/30
............
8,024,038
1,600,000
Utility
Debt
Securitization
Authority
Restructuring
Refunding
Revenue
Bonds,
5.00%,
12/15/24
............
1,707,663
693,858,779
North
Carolina
—
1.9%
1,260,000
City
of
Durham
NC
Water
&
Sewer
Utility
System
Revenue
Refunding
Revenue
Bonds,
5.00%,
08/01/26
............
1,546,511
1,680,000
City
of
Durham
NC
Water
&
Sewer
Utility
System
Revenue
Refunding
Revenue
Bonds,
5.00%,
08/01/27
............
2,122,226
1,300,000
City
of
Durham
NC
Water
&
Sewer
Utility
System
Revenue
Refunding
Revenue
Bonds,
5.00%,
08/01/28
............
1,686,464
1,800,000
City
of
Durham
NC
Water
&
Sewer
Utility
System
Revenue
Refunding
Revenue
Bonds,
5.00%,
08/01/31
............
2,493,648
3,250,000
City
of
Durham
NC
Water
&
Sewer
Utility
System
Revenue
Refunding
Revenue
Bonds,
5.00%,
08/01/32
............
4,476,290
750,000
City
of
Winston-Salem
Current
Refunding
Revenue
Bonds,
Series
C,
5.00%,
06/01/26
............
851,798
4,260,000
County
of
Wake
Repayment
of
Bank
Loan
Revenue
Bonds,
5.00%,
03/01/32
............
5,824,340
Old
Westbury
Funds,
Inc.
Municipal
Bond
Fund
Portfolio
of
Investments
-
(Continued)
22
July
31,
2021
(Unaudited)
Principal
Amount
Value
North
Carolina
(continued)
$
1,000,000
Durham
Capital
Financing
Corp
Advance
Refunding
Revenue
Bonds,
5.00%,
12/01/25
............
$
1,200,259
2,000,000
North
Carolina
Eastern
Municipal
Power
Agency
Improvements
Revenue
Bonds,
Series
A,
5.00%,
01/01/22
............
2,040,690
2,000,000
North
Carolina
Eastern
Municipal
Power
Agency
Improvements
Revenue
Bonds,
Series
A,
5.00%,
01/01/23
(a)
..........
2,089,979
325,000
North
Carolina
State
University
At
Raleigh
Refunding
Revenue
Bonds,
Series
A,
5.00%,
10/01/21
............
327,590
3,250,000
State
of
North
Carolina
Advance
Refunding
Revenue
Bonds,
5.00%,
03/01/22
............
3,342,868
13,000,000
State
of
North
Carolina
Advance
Refunding
Revenue
Bonds,
Series
B,
5.00%,
05/01/23
............
14,119,817
1,000,000
State
of
North
Carolina
Advance
Refunding
Revenue
Bonds,
Series
B,
5.00%,
05/01/24
............
1,133,402
5,000,000
State
of
North
Carolina
Highway
Improvements
Revenue
Bonds,
5.00%,
03/01/29
............
6,563,072
6,675,000
State
of
North
Carolina
Highway
Improvements
Revenue
Bonds,
5.00%,
03/01/30
............
8,699,675
1,500,000
State
of
North
Carolina
Highway
Improvements
Revenue
Bonds,
Series
A,
5.00%,
05/01/22
............
1,555,212
8,750,000
State
of
North
Carolina
Highway
Improvements
Revenue
Bonds,
Series
B,
5.00%,
05/01/29
............
11,591,094
2,000,000
State
of
North
Carolina
Highway
Improvements
Revenue
Bonds,
Series
B,
5.00%,
05/01/32
............
2,683,762
2,000,000
State
of
North
Carolina
Public
Improvements
GO,
Series
A,
5.00%,
06/01/27
............
2,523,101
Principal
Amount
Value
North
Carolina
(continued)
$
385,000
Town
of
Garner
Public
Improvements
GO,
5.00%,
08/01/24
............
$
440,795
1,175,000
University
of
North
Carolina
at
Chapel
Hill
Current
Refunding
Revenue
Bonds,
Series
B,
5.00%,
12/01/29
............
1,578,443
1,325,000
University
of
North
Carolina
at
Chapel
Hill
Current
Refunding
Revenue
Bonds,
Series
B,
5.00%,
12/01/36
............
1,830,498
80,721,534
Ohio
—
3.4%
750,000
Akron
Bath
Copley
Joint
Township
Hospital
District
Current
Refunding
Revenue
Bonds,
4.00%,
11/15/35
............
908,312
1,000,000
Akron
Bath
Copley
Joint
Township
Hospital
District
Current
Refunding
Revenue
Bonds,
4.00%,
11/15/36
............
1,209,614
1,000,000
Central
Ohio
Solid
Waste
Authority
Advance
Refunding
GO,
5.00%,
12/01/24
............
1,157,978
2,225,000
City
of
Columbus
Advance
Refunding
GO,
Series
2017-1,
5.00%,
04/01/24
............
2,513,220
2,000,000
City
of
Columbus
Refunding
GO,
Series
5,
5.00%,
08/15/23
............
2,200,060
1,100,000
County
of
Cuyahoga
Refunding
Revenue
Bonds,
5.00%,
12/01/22
............
1,171,769
1,000,000
County
of
Hamilton
Sewer
System
Refunding
Revenue
Bonds,
Series
A,
5.00%,
12/01/26
............
1,155,811
1,515,000
County
of
Hamilton
Sewer
System
Refunding
Revenue
Bonds,
Series
A,
5.00%,
12/01/27
............
1,747,233
1,350,000
County
of
Montgomery
Current
Refunding
Revenue
Bonds,
5.00%,
08/01/30
............
1,811,877
600,000
Greater
Cleveland
Regional
Transit
Authority
Advance
Refunding
Revenue
Bonds,
5.00%,
12/01/25
............
718,724
Old
Westbury
Funds,
Inc.
Municipal
Bond
Fund
Portfolio
of
Investments
-
(Continued)
23
July
31,
2021
(Unaudited)
Principal
Amount
Value
Ohio
(continued)
$
545,000
Greater
Cleveland
Regional
Transit
Authority
Advance
Refunding
Revenue
Bonds,
5.00%,
12/01/26
............
$
673,992
1,000,000
Greater
Cleveland
Regional
Transit
Authority
Capital
Improvements
Advance
Refunding
Revenue
Bonds,
5.00%,
12/01/23
............
1,111,472
1,030,000
Hamilton
City
School
District
Advance
Refunding
GO,
(School
District
Credit
Program),
5.00%,
12/01/22
............
1,095,489
6,000,000
Ohio
Turnpike
&
Infrastructure
Commission
Highway
Improvements
Revenue
Bonds,
Series
A,
5.00%
,
02/15/46
............
7,865,920
3,000,000
Ohio
Water
Development
Authority
Revenue
Bonds,
5.00%,
06/01/26
............
3,662,564
875,000
Ohio
Water
Development
Authority
Water
Pollution
Control
Loan
Fund
Pollution
Control
Revenue
Bonds,
Series
B,
5.00%,
06/01/22
............
910,734
3,375,000
Ohio
Water
Development
Authority
Water
Pollution
Control
Loan
Fund
Pollution
Control
Revenue
Bonds,
Series
B,
5.00%,
06/01/23
............
3,678,215
3,300,000
Ohio
Water
Development
Authority
Water
Pollution
Control
Loan
Fund
Pollution
Control
Revenue
Bonds,
Series
B,
5.00%,
06/01/24
............
3,752,942
1,410,000
Ohio
Water
Development
Authority
Water
Pollution
Control
Loan
Fund
Pollution
Control
Revenue
Bonds,
Series
B,
5.00%,
06/01/25
............
1,665,436
1,450,000
Ohio
Water
Development
Authority
Water
Pollution
Control
Loan
Fund
Pollution
Control
Revenue
Bonds,
Series
B,
5.00%,
06/01/26
............
1,770,239
Principal
Amount
Value
Ohio
(continued)
$
2,000,000
Ohio
Water
Development
Authority
Water
Pollution
Control
Loan
Fund
Pollution
Control
Revenue
Bonds,
Series
B,
5.00%,
06/01/27
............
$
2,516,541
10,000,000
Ohio
Water
Development
Authority
Water
Pollution
Control
Loan
Fund
Revenue
Bond,
Series
2015-A,
5.00%,
12/01/24
............
11,597,882
10,285,000
Ohio
Water
Development
Authority
Water
Utility
Improvements
Revenue
Bonds,
5.00%,
06/01/28
............
13,227,304
3,045,000
Revere
Local
School
District
School
Improvements
GO,
Series
A,
5.00%,
12/01/42
(a)
..........
3,169,465
2,350,000
Revere
Local
School
District
School
Improvements
GO,
Series
A,
5.00%,
12/01/45
(a)
..........
2,446,056
320,000
RiverSouth
Authority
Area
Redevelopment
Refunding
Revenue
Bonds,
Series
A,
5.00%,
06/01/24
............
348,070
16,790,000
State
of
Ohio
Advance
Refunding
GO,
Series
A,
5.00%,
12/15/24
............
19,489,278
1,690,000
State
of
Ohio
Department
of
Administration
Telecommunications
Improvements
COP,
5.00%,
09/01/24
............
1,938,426
1,445,000
State
of
Ohio
Department
of
Administration
Telecommunications
Improvements
COP,
5.00%,
09/01/24
............
1,657,411
2,000,000
State
of
Ohio
Highway
Improvements
Revenue
Bonds,
Series
1-A,
5.00%,
12/15/29
............
2,671,781
1,000,000
State
of
Ohio
Highway
Improvements
Revenue
Bonds,
Series
1-A,
5.00%,
12/15/30
............
1,364,962
1,300,000
State
of
Ohio
Highway
Improvements
Revenue
Bonds,
Series
1-A,
5.00%,
12/15/31
............
1,812,959
2,000,000
State
of
Ohio
Mental
Health
Facility
Improvements
Revenue
Bonds,
Series
A,
5.00%,
06/01/25
............
2,356,449
Old
Westbury
Funds,
Inc.
Municipal
Bond
Fund
Portfolio
of
Investments
-
(Continued)
24
July
31,
2021
(Unaudited)
Principal
Amount
Value
Ohio
(continued)
$
2,185,000
State
of
Ohio
Public
Facilities
Revenue
Bonds,
Series
A,
5.00%,
02/01/26
............
$
2,634,096
3,200,000
State
of
Ohio
Public
Facilities
Revenue
Bonds,
Series
A,
5.00%,
02/01/27
............
3,975,236
3,250,000
State
of
Ohio
Public
Facilities
Revenue
Bonds,
Series
A,
5.00%,
02/01/28
............
4,141,768
2,400,000
State
of
Ohio
Public
Facilities
Revenue
Bonds,
Series
A,
5.00%,
02/01/29
............
3,131,964
1,800,000
State
of
Ohio
Public
Facilities
Revenue
Bonds,
Series
A,
5.00%,
02/01/30
............
2,400,774
2,900,000
State
of
Ohio
Public
Facilities
Revenue
Bonds,
Series
A,
5.00%,
02/01/31
............
3,950,961
1,415,000
State
of
Ohio
Public
Improvements
Revenue
Bonds,
Series
A,
5.00%,
02/01/24
............
1,585,418
5,000,000
State
of
Ohio
School
Improvements
GO,
Series
B,
5.00%,
06/15/23
............
5,460,671
2,200,000
State
of
Ohio
University
and
College
Improvements
GO,
Series
A,
5.00%,
05/01/28
(a)
..........
2,281,043
5,445,000
State
of
Ohio
University
and
College
Improvements
GO,
Series
A,
5.00%,
05/01/28
............
6,391,854
141,331,970
Oklahoma
—
0.7%
3,650,000
City
of
Oklahoma
City
Public
Improvements
GO,
5.00%,
03/01/26
............
4,421,573
2,350,000
Oklahoma
Turnpike
Authority
Pre-
refunded
Highway
Improvements
Revenue
Bonds,
Series
C,
5.00%,
01/01/31
(a)
..........
2,398,457
1,500,000
Oklahoma
Turnpike
Authority
Refunding
Revenue
Bonds,
Series
A,
5.00%,
01/01/24
............
1,674,484
1,000,000
Oklahoma
Turnpike
Authority
Refunding
Revenue
Bonds,
Series
A,
5.00%,
01/01/25
............
1,160,864
Principal
Amount
Value
Oklahoma
(continued)
$
2,000,000
Oklahoma
Turnpike
Authority
Refunding
Revenue
Bonds,
Series
A,
5.00%,
01/01/26
............
$
2,404,380
2,000,000
Oklahoma
Turnpike
Authority
Refunding
Revenue
Bonds,
Series
A,
5.00%,
01/01/27
............
2,480,783
2,000,000
Oklahoma
Turnpike
Authority
Refunding
Revenue
Bonds,
Series
A,
5.00%,
01/01/28
............
2,550,486
2,315,000
Oklahoma
Turnpike
Authority
Refunding
Revenue
Bonds,
Series
A,
5.00%,
01/01/29
............
3,026,868
5,000,000
Oklahoma
Turnpike
Authority
Refunding
Revenue
Bonds,
Series
D,
5.00%,
01/01/26
............
6,010,950
2,985,000
Oklahoma
Turnpike
Authority
Refunding
Revenue
Bonds,
Series
D,
5.00%,
01/01/28
............
3,806,601
29,935,446
Oregon
—
0.9%
8,035,000
City
of
Portland
Sewer
System
Revenue
Sewer
Improvements
Revenue
Bonds,
Series
A,
5.00%,
03/01/30
............
10,782,187
1,600,000
Medford
Hospital
Facilities
Authority
Health
Care
Facilities
Revenue
Bonds,
Series
A,
5.00%,
08/15/38
............
2,099,375
750,000
Salem-Keizer
School
District
No
24J
School
Improvements
GO,
(School
Board
GTY),
5.00%,
06/15/27
............
943,763
3,290,000
State
of
Oregon
Advance
Refunding
GO,
Series
M,
5.00%,
11/01/23
............
3,651,997
10,350,000
State
of
Oregon
Facilities
Improvements
GO,
Series
A,
5.00%,
05/01/25
............
12,187,958
4,900,000
State
of
Oregon
Public
Facilities
GO,
5.00%,
05/01/29
............
6,486,676
36,151,956
Old
Westbury
Funds,
Inc.
Municipal
Bond
Fund
Portfolio
of
Investments
-
(Continued)
25
July
31,
2021
(Unaudited)
Principal
Amount
Value
Pennsylvania
—
2.5%
$
15,000,000
Commonwealth
of
Pennsylvania
Advance
Refunding
GO,
5.00%,
07/15/26
............
$
18,384,946
5,000,000
Commonwealth
of
Pennsylvania
Public
Facilities
GO,
Series
1,
5.00%,
03/01/22
............
5,141,983
8,245,000
General
Authority
of
Southcentral
Pennsylvania
Pre-refunded
Refunding
Revenue
Bonds,
5.00%,
06/01/44
(a)
..........
9,375,460
1,000,000
Lancaster
County
Hospital
Authority
Advance
Refunding
Revenue
Bonds,
5.00%,
08/15/26
............
1,225,559
1,500,000
Pennsylvania
Higher
Educational
Facilities
Authority
Advance
Refunding
Revenue
Bonds,
Series
C,
5.00%,
08/15/25
............
1,782,853
2,755,000
Pennsylvania
Intergovernmental
Cooperation
Authority
Special
Tax
Revenue
Refunding
Bonds,
5.00%,
06/15/22
............
2,871,808
3,500,000
Pennsylvania
Intergovernmental
Cooperation
Authority
Special
Tax
Revenue
Refunding
Bonds,
5.00%,
06/15/23
............
3,821,778
1,700,000
Philadelphia
Authority
for
Industrial
Development
Refunding
Revenue
Bonds,
5.00%,
07/01/25
............
2,011,111
7,000,000
Philadelphia
Authority
for
Industrial
Development
Refunding
Revenue
Bonds,
5.00%,
07/01/26
............
8,557,536
5,890,000
Philadelphia
Authority
for
Industrial
Development
Refunding
Revenue
Bonds,
5.00%,
07/01/27
............
7,413,446
6,275,000
Philadelphia
Authority
for
Industrial
Development
Refunding
Revenue
Bonds,
5.00%,
07/01/28
............
8,100,446
8,500,000
Philadelphia
Authority
for
Industrial
Development
Refunding
Revenue
Bonds,
5.00%,
07/01/29
............
11,219,043
Principal
Amount
Value
Pennsylvania
(continued)
$
6,500,000
Philadelphia
Authority
for
Industrial
Development
Refunding
Revenue
Bonds,
5.00%,
07/01/30
............
$
8,736,022
6,000,000
Philadelphia
Authority
for
Industrial
Development
Refunding
Revenue
Bonds,
5.00%,
07/01/31
............
8,241,320
6,000,000
Philadelphia
Authority
for
Industrial
Development
Refunding
Revenue
Bonds,
5.00%,
07/01/32
............
8,408,487
105,291,798
Rhode
Island
—
0.3%
6,950,000
Rhode
Island
Commerce
Corp.
Grant
Anticipation
Current
Refunding
Revenue,
5.00%,
06/15/23
............
7,575,250
1,045,000
State
of
Rhode
Island
Advance
Refunding
COP,
Series
D,
5.00%,
04/01/25
............
1,219,720
550,000
State
of
Rhode
Island
School
for
the
Deaf
Project
Advance
Refunding
COP,
Series
D,
5.00%,
04/01/24
............
618,420
960,000
State
of
Rhode
Island
University
&
College
Improvements
COP,
Series
A,
5.00%,
06/01/24
............
1,086,508
1,010,000
State
of
Rhode
Island
University
&
College
Improvements
COP,
Series
A,
5.00%,
06/01/25
............
1,185,786
11,685,684
South
Carolina
—
0.3%
3,600,000
Beaufort
County
School
District
School
Improvements
Refunding
GO,
Series
A,
(South
Carolina
School
District
Enhancement),
5.00%,
03/01/22
............
3,702,869
4,010,000
Darlington
County
School
District
School
Improvement
GO,
(South
Carolina
School
District
Enhancement),
5.00%,
03/01/27
............
5,008,711
Old
Westbury
Funds,
Inc.
Municipal
Bond
Fund
Portfolio
of
Investments
-
(Continued)
26
July
31,
2021
(Unaudited)
Principal
Amount
Value
South
Carolina
(continued)
$
2,350,000
Lexington
County
School
District
No
2
School
Improvements
GO,
(South
Carolina
School
District
Enhancement),
5.00%,
03/01/26
............
$
2,846,766
1,485,000
State
of
South
Carolina
University
&
College
Improvements
GO,
Series
B,
(State
Aid
Withholding),
5.00%,
04/01/22
............
1,533,655
13,092,001
South
Dakota
—
0.7%
2,125,000
South
Dakota
Conservancy
District
Water
Utility
Improvements
Revenue
Bonds,
5.00%,
08/01/29
............
2,825,369
1,950,000
South
Dakota
Conservancy
District
Water
Utility
Improvements
Revenue
Bonds,
5.00%,
08/01/31
............
2,637,029
1,500,000
South
Dakota
Conservancy
District
Water
Utility
Improvements
Revenue
Bonds,
5.00%,
08/01/33
............
2,015,566
1,020,000
South
Dakota
Conservancy
District
Water
Utility
Improvements
Revenue
Bonds,
5.00%,
08/01/35
............
1,363,977
1,400,000
South
Dakota
Conservancy
District
Water
Utility
Improvements
Revenue
Bonds,
5.00%,
08/01/36
............
1,867,069
1,850,000
South
Dakota
Conservancy
District
Water
Utility
Improvements
Revenue
Bonds,
5.00%,
08/01/37
............
2,460,176
4,910,000
South
Dakota
Conservancy
District
Water
Utility
Improvements
Revenue
Bonds,
5.00%,
08/01/38
............
6,514,531
5,155,000
South
Dakota
Conservancy
District
Water
Utility
Improvements
Revenue
Bonds,
5.00%,
08/01/39
............
6,818,130
2,455,000
South
Dakota
Conservancy
District
Water
Utility
Improvements
Revenue
Bonds,
Series
B,
5.00%,
08/01/29
............
2,796,514
29,298,361
Principal
Amount
Value
Tennessee
—
0.6%
$
500,000
City
of
Clarksville
TN
Water
Sewer
&
Gas
Revenue
Repayment
of
Bank
Loan
Refunding
Revenue
Bonds,
5.00%,
02/01/25
............
$
582,990
1,000,000
City
of
Clarksville
TN
Water
Sewer
&
Gas
Revenue
Water
Utility
Improvements
Revenue
Bonds,
Series
A,
5.00%,
02/01/28
............
1,280,856
2,000,000
City
of
Clarksville
TN
Water
Sewer
&
Gas
Revenue
Water
Utility
Improvements
Revenue
Bonds,
Series
A,
5
.00%,
02/01/29
............
2,625,030
1,000,000
City
of
Clarksville
TN
Water
Sewer
&
Gas
Revenue
Water
Utility
Improvements
Revenue
Bonds,
Series
A,
5.00%,
02/01/30
............
1,341,388
1,125,000
City
of
Clarksville
TN
Water
Sewer
&
Gas
Revenue
Water
Utility
Improvements
Revenue
Bonds,
Series
A,
5.00%,
02/01/31
............
1,541,129
1,600,000
City
of
Clarksville
TN
Water
Sewer
&
Gas
Revenue
Water
Utility
Improvements
Revenue
Bonds,
Series
A,
5
.00%,
02/01/32
............
2,176,177
3,070,000
City
of
Knoxville
Public
Facilities
GO,
5.00%,
05/01/31
............
4,249,928
1,000,000
County
of
Montgomery
Advance
Refunding
School
Improvements
GO,
5.00%,
04/01/26
............
1,213,708
5,105,000
County
of
Shelby
Refunding
GO,
Series
B,
5.00%,
04/01/22
............
5,272,609
400,000
Metropolitan
Government
of
Nashville
&
Davidson
County
Electric
System
Revenue
Bonds,
Series
A,
5.00%,
05/15/23
............
435,144
1,005,000
State
of
Tennessee
Refunding
GO,
Series
A,
5.00%,
09/01/23
............
1,107,876
2,000,000
State
of
Tennessee
Refunding
Notes
GO,
Series
A,
5.00%,
08/01/21
............
2,000,000
Old
Westbury
Funds,
Inc.
Municipal
Bond
Fund
Portfolio
of
Investments
-
(Continued)
27
July
31,
2021
(Unaudited)
Principal
Amount
Value
Tennessee
(continued)
$
2,165,000
Tennessee
State
School
Bond
Authority
Pre-refunded
Advance
Refunding
Revenue
Bonds,
Series
B,
(State
Aid
Intercept
Program),
5.00%,
11/01/30
(a)
..........
$
2,589,773
900,000
Tennessee
State
School
Bond
Authority
Refunding
Revenue
Bonds,
(State
Aid
Intercept
Program),
5.00%,
11/01/25
............
1,037,002
27,453,610
Texas
—
11.3%
1,000,000
Allen
Independent
School
District
Current
Refunding
GO,
Series
A,
(PSF-GTD),
5.00%,
02/15/22
............
1,026,485
860,000
Alvin
Independent
School
District
Improvements
Refunding
GO,
Series
A,
(PSF-GTD),
5.00%,
02/15/25
............
1,002,849
1,720,000
Alvin
Independent
School
District
Improvements
Refunding
GO,
Series
A,
(PSF-GTD),
5.00%,
02/15/26
............
2,075,276
485,000
Aransas
Pass
Independent
School
District
Improvements
GO,
(PSF-GTD),
5.00%,
02/15/23
............
520,346
410,000
Aransas
Pass
Independent
School
District
School
Improvements
GO,
(PSF-GTD),
5.00%,
02/15/22
............
420,769
1,315,000
Austin
Community
College
District
Refunding
GO,
5.00%,
08/01/27
............
1,610,397
280,000
Austin
Independent
School
District
Advance
Refunding
GO,
Series
B,
(PSF-GTD),
5.00%,
08/01/23
............
307,373
300,000
Austin
Independent
School
District
Refunding
GO,
Series
A,
(PSF-GTD),
5.00%,
08/01/21
............
300,000
1,000,000
Austin
Independent
School
District
Refunding
GO,
Series
B,
(PSF-GTD),
5.00%,
08/01/21
............
1,000,000
5,000,000
Austin
Independent
School
District
School
Improvements
GO,
(PSF-GTD),
5.00%,
08/01/31
............
6,903,531
Principal
Amount
Value
Texas
(continued)
$
6,955,000
Board
of
Regents
of
the
University
of
Texas
System
Refunding
Revenue
Bonds,
Series
A,
5.00%,
08/15/30
............
$
9,442,699
1,075,000
Bonham
Independent
School
District
Improvements
GO,
(PSF-GTD),
5.00%,
08/01/27
............
1,315,292
1,605,000
Brock
Independent
School
District
Refunding
GO,
(PSF-GTD),
5.00%,
08/15/25
............
1,886,448
750,000
City
of
Austin
Public
Improvements
GO,
5.00%,
09/01/25
............
863,000
1,465,000
City
of
Austin
Public
Improvements
GO,
5.00%,
09/01/26
............
1,684,749
1,700,000
City
of
Austin
Public
Improvements
GO,
5.00%,
11/01/22
............
1,804,428
290,000
City
of
Austin
TX
Airport
System
Revenue
Airport
&
Marina
Improvements
Revenue
Bonds,
Series
A,
5.00%,
11/15/28
............
354,299
3,000,000
City
of
Austin
TX
Electric
Utility
Revenue
Refunding
Revenue
Bonds,
Series
A,
5.00%,
11/15/28
............
3,905,540
810,000
City
of
Austin
TX
Water
&
Wastewater
System
Revenue,
Series
A,
5.00%,
11/15/21
............
821,326
5,000,000
City
of
Austin
Water
&
Wastewater
System
Advance
Refunding
Revenue
Bonds,
5.00%,
11/15/29
............
6,160,310
4,020,000
City
of
College
Station
Improvements
Advance
Refunding
GO,
5.00%,
02/15/25
............
4,687,737
935,000
City
of
Conroe
Public
Improvements
GO,
5.00%,
03/01/25
............
1,051,458
1,715,000
City
of
Dallas
TX
Waterworks
&
Sewer
System
Revenue,
Bonds,
Series
C,
5.00%,
10/01/28
............
2,230,332
2,075,000
City
of
Denton
Public
Improvements
GO,
5.00%,
02/15/23
............
2,230,222
Old
Westbury
Funds,
Inc.
Municipal
Bond
Fund
Portfolio
of
Investments
-
(Continued)
28
July
31,
2021
(Unaudited)
Principal
Amount
Value
Texas
(continued)
$
1,715,000
City
of
Denton
Public
Improvements
GO,
5.00%,
02/15/24
............
$
1,926,008
1,290,000
City
of
Denton
Public
Improvements
GO,
5.00%,
02/15/28
............
1,550,658
830,000
City
of
El
Paso
Municipal
Drainage
Utility
System
Sewer
Improvement
Revenue
Bonds,
5.00%,
03/01/24
............
931,318
350,000
City
of
El
Paso
Water
&
Sewer
Refunding
Revenue
Bonds,
5.00%,
03/01/25
............
393,304
1,250,000
City
of
El
Paso
Water
&
Sewer
Refunding
Revenue
Bonds,
5.00%,
03/01/26
(a)
..........
1,406,607
5,145,000
City
of
Fort
Worth
Water
&
Sewer
System
Improvements
Refunding
Revenue
Bonds,
5.00%,
02/15/25
............
6,005,547
1,000,000
City
of
Houston
TX
Airport
System
Revenue
Refunding
Revenue
Bonds,
Sub-Series
A,
5.00%,
07/01/24
............
1,137,329
1,250,000
City
of
Houston
TX
Airport
System
Revenue
Refunding
Revenue
Bonds,
Sub-Series
A,
5.00%,
07/01/26
............
1,518,618
1,000,000
City
of
Houston
TX
Airport
System
Revenue
Refunding
Revenue
Bonds,
Sub-Series
A,
5.00%,
07/01/27
............
1,246,777
1,000,000
City
of
Houston
TX
Airport
System
Revenue
Refunding
Revenue
Bonds,
Sub-Series
A,
5.00%,
07/01/29
............
1,304,735
1,200,000
City
of
Houston
TX
Airport
System
Revenue
Refunding
Revenue
Bonds,
Sub-Series
A,
5.00%,
07/01/31
............
1,617,406
1,000,000
City
of
Houston
TX
Airport
System
Revenue
Refunding
Revenue
Bonds,
Sub-Series
A,
5.00%,
07/01/32
............
1,338,813
1,000,000
City
of
Houston
TX
Airport
System
Revenue
Refunding
Revenue
Bonds,
Sub-Series
A,
5.00%,
07/01/33
............
1,334,039
Principal
Amount
Value
Texas
(continued)
$
1,250,000
City
of
Houston
TX
Airport
System
Revenue
Refunding
Revenue
Bonds,
Sub-Series
A,
5.00%,
07/01/34
............
$
1,661,741
7,500,000
City
of
Houston
TX
Airport
System
Revenue
Refunding
Revenue
Bonds,
Sub-Series
A,
4.00%,
07/01/47
............
8,772,421
1,000,000
City
of
Houston
TX
Airport
System
Revenue
Refunding
Revenue
Bonds,
Sub-Series
B,
5.00%,
07/01/26
............
1,220,870
2,460,000
City
of
Houston
TX
Airport
System
Revenue
Refunding
Revenue
Bonds,
Sub-Series
B,
5.00%,
07/01/27
............
3,091,388
3,000,000
City
of
Houston
TX
Airport
System
Revenue
Refunding
Revenue
Bonds,
Sub-Series
B,
5.00%,
07/01/28
............
3,868,043
1,000,000
City
of
Houston
TX
Airport
System
Revenue
Refunding
Revenue
Bonds,
Sub-Series
C,
0
.88%,
07/01/22
............
1,005,021
5,500,000
City
of
Houston
TX
Airport
System
Revenue
Refunding
Revenue
Bonds,
Sub-Series
C,
1.05%,
07/01/23
............
5,565,845
2,040,000
City
of
McKinney
Waterworks
&
Sewer
System
Revenue
Sewer
Improvements
Refunding
Revenue
Bonds,
5.00%,
03/15/25
............
2,386,960
2,360,000
City
of
McKinney
Waterworks
&
Sewer
System
Revenue
Sewer
Improvements
Refunding
Revenue
Bonds,
5.00%,
03/15/26
............
2,857,730
1,815,000
City
of
Plano
Advance
Refunding
GO,
5.00%,
09/01/23
............
2,001,192
1,180,000
City
of
Plano
Waterworks
&
Sewer
System
Water
Utility
Improvement
Revenue
Bonds,
5.00%,
05/01/26
............
1,434,223
1,205,000
City
of
Round
Rock
TX
Utility
System
Revenue
Advance
Refunding
Revenue
Bonds,
5.00%,
08/01/25
............
1,424,476
Old
Westbury
Funds,
Inc.
Municipal
Bond
Fund
Portfolio
of
Investments
-
(Continued)
29
July
31,
2021
(Unaudited)
Principal
Amount
Value
Texas
(continued)
$
875,000
Clear
Creek
Independent
School
District
Improvements
GO,
(PSF-GTD),
5.00%,
02/15/24
............
$
981,945
1,000,000
Clear
Creek
Independent
School
District
Improvements
GO,
(PSF-GTD),
5.00%,
02/15/25
............
1,166,874
1,195,000
Connally
Independent
School
District
Refunding
GO,
(PSF-GTD),
5.00%,
08/15/25
............
1,412,946
460,000
Conroe
Independent
School
District  School
Improvements
GO,
(PSF-GTD),
5.00%,
02/15/22
............
472,183
1,500,000
Conroe
Independent
School
District
Current
Refunding
GO,
Series
A,
(PSF-GTD),
5.00%,
02/15/24
............
1,683,740
2,000,000
Conroe
Independent
School
District
Current
Refunding
GO,
Series
A,
(PSF-GTD),
5.00%,
02/15/25
............
2,332,207
10,000,000
Conroe
Independent
School
District
Current
Refunding
GO,
Series
A,
(PSF-GTD),
5.00%,
02/15/28
............
12,778,299
670,000
Corsicana
Independent
School
District
Current
Refunding
GO,
(PSF-GTD),
5.00%,
02/15/22
............
687,500
2,130,000
County
of
Bexar
Advance
Refunding
GO,
5.00%,
06/15/26
............
2,519,392
7,500,000
County
of
Bexar
Advance
Refunding
GO,
5.00%,
06/15/29
............
9,135,409
2,910,000
County
of
Bexar
Refunding
GO,
5.00%,
06/15/22
............
3,034,945
3,000,000
County
of
Bexar
Tax
Public
Improvements
GO,
Series
B,
5.00%,
06/15/43
(a)
..........
3,274,664
650,000
County
of
Collin
Advance
Refunding
GO,
5.00%,
02/15/25
............
757,717
675,000
County
of
Collin
Advance
Refunding
GO,
5.00%,
02/15/24
............
757,866
Principal
Amount
Value
Texas
(continued)
$
1,500,000
County
of
Denton
Advance
Refunding
GO,
5.00%,
07/15/24
............
$
1,711,452
475,000
County
of
El
Paso
Advance
Refunding
GO,
5.00%,
02/15/23
............
509,313
2,000,000
County
of
Harris
Current
Refunding
GO,
Series
A,
5.00%,
10/01/26
............
2,466,587
1,485,000
County
of
Harris
Current
Refunding
GO,
Series
A,
5.00%,
10/01/24
............
1,709,769
1,850,000
County
of
Williamson
Limited
Tax
Advance
Refunding
GO,
5.00%,
02/15/24
............
2,075,610
1,000,000
County
of
Williamson
Public
Improvements
GO,
5.00%,
02/15/25
............
1,165,719
360,000
Crystal
City
Independent
School
District
Advance
Refunding
GO,
(PSF-GTD),
5.00%,
02/15/26
............
418,139
750,000
Dallas
Area
Rapid
Transit
Refunding
Revenue
Bonds,
Series
A,
5.00%,
12/01/25
............
868,484
1,120,000
Dayton
Independent
School
District
School
Improvements
GO,
(PSF-GTD),
5.00%,
02/15/22
............
1,149,664
7,715,000
Denton
Independent
School
District
Advance
Refunding
GO,
(PSF-GTD),
5.00%,
08/15/26
............
8,984,623
2,500,000
Denton
Independent
School
District
Advance
Refunding
GO,
(PSF-GTD),
5.00%,
08/15/29
............
3,001,416
1,085,000
Denver
City
Independent
School
District
School
Building
GO,
Series
A,
(PSF-GTD),
5.00%,
02/15/25
............
1,261,055
100,000
Denver
City
Independent
School
District
School
Improvements
GO,
Series
A,
(PSF-GTD),
5.00%,
02/15/26
............
120,206
180,000
Dilley
Independent
School
District
School
Improvements
GO,
(PSF-GTD),
5.00%,
08/15/25
............
213,016
Old
Westbury
Funds,
Inc.
Municipal
Bond
Fund
Portfolio
of
Investments
-
(Continued)
30
July
31,
2021
(Unaudited)
Principal
Amount
Value
Texas
(continued)
$
25,000
Dilley
Independent
School
District
School
Improvements
GO,
(PSF-GTD),
5.00%,
08/15/25
............
$
29,637
2,780,000
Eagle
Mountain
&
Saginaw
Independent
School
District
Current
Refunding
GO,
(PSF-GTD),
5.00%,
08/15/24
............
3,181,348
1,835,000
Eagle
Mountain
&
Saginaw
Independent
School
District
Refunding
GO,
(PSF-GTD),
5.00%,
08/15/27
............
2,206,696
750,000
Eagle
Mountain
&
Saginaw
Independent
School
District
School
Improvements
GO,
(PSF-GTD),
5.00%,
08/15/23
............
824,052
3,000,000
Edinburg
Consolidated
Independent
School
District
Advance
Refunding
GO,
(PSF-GTD),
5.00%,
02/15/25
............
3,489,089
1,500,000
El
Paso
Independent
School
District
Refunding
GO,
(PSF-GTD),
5.00%,
08/15/25
............
1,720,985
5,000,000
Fort
Worth
Independent
School
District
School
Improvements
GO,
Series
A,
(PSF-GTD),
5.00%,
02/15/28
............
6,385,474
1,395,000
Frenship
Independent
School
District
Refunding
GO,
(PSF-GTD),
5.00%,
02/15/26
(a)
..........
1,566,766
1,285,000
Goose
Creek
Consolidated
Independent
School
District
Advance
Refunding
GO,
(PSF-
GTD),
Series
A,
5.00%,
02/15/25
............
1,498,443
8,500,000
Grand
Parkway
Transportation
Corp
Highway
Improvements
Revenue
Bonds,
Sub-Tier
Series
B,
5.00%,
10/01/52
(b)
..........
9,341,396
8,000,000
Grand
Parkway
Transportation
Corp.
Highway
Improvements
Revenue
Bonds,
Series
A,
5.50%,
04/01/53
(a)
..........
8,932,347
1,990,000
Harlandale
Independent
School
District
Current
Refunding
GO,
Series
A,
(PSF-GTD),
5.00%,
02/15/24
............
2,227,294
Principal
Amount
Value
Texas
(continued)
$
350,000
Harlandale
Independent
School
District
Current
Refunding
GO,
Series
A,
(PSF-GTD),
5.00%,
02/15/25
............
$
406,926
325,000
Harlingen
Consolidated
Independent
School
District
Current
Refunding
GO,
(PSF-GTD),
5.00%
,
08/15/22
............
341,242
1,000,000
Harris
County
Flood
Control
District
Refunding
GO,
Series
A,
5.00%,
10/01/29
............
1,329,726
1,500,000
Harris
County
Flood
Control
District
Refunding
GO,
Series
A,
5.00%,
10/01/30
............
2,036,004
1,500,000
Harris
County
Flood
Control
District
Refunding
GO,
Series
A,
5.00%,
10/01/31
............
2,020,871
5,000,000
Harris
County
Flood
Control
District
Refunding
Revenue
Bonds,
Series
A,
5.00%,
10/01/23
............
5,528,161
1,970,000
Harris
County
Toll
Road
Authority
Bridges
Revenue
Bonds,
5.00%,
08/15/28
............
2,549,190
2,000,000
Harris
County
Toll
Road
Authority
Bridges
Revenue
Bonds,
5.00%,
08/15/29
............
2,645,041
2,150,000
Harris
County
Toll
Road
Authority
Bridges
Revenue
Bonds,
5.00%,
08/15/30
............
2,899,086
1,500,000
Harris
County
Toll
Road
Authority
Bridges
Revenue
Bonds,
5.00%,
08/15/31
............
2,015,027
1,000,000
Harris
County
Toll
Road
Authority
Bridges
Revenue
Bonds,
5.00%,
08/15/32
............
1,338,203
2,455,000
Irving
Independent
School
District
Advance
Refunding
GO,
(PSF-GTD),
5.00%,
02/15/24
............
2,754,390
585,000
Kaufman
Independent
School
District
School
Building
Refunding
GO,
(PSF-GTD),
5.00%,
02/15/24
............
654,599
500,000
Kaufman
Independent
School
District
School
Building
Refunding
GO,
(PSF-GTD),
5.00%,
02/15/25
............
580,557
Old
Westbury
Funds,
Inc.
Municipal
Bond
Fund
Portfolio
of
Investments
-
(Continued)
31
July
31,
2021
(Unaudited)
Principal
Amount
Value
Texas
(continued)
$
750,000
Klein
Independent
School
District
School
Improvements
GO,
(PSF-GTD),
5.00%,
08/01/23
............
$
823,478
580,000
Lamar
Consolidated
Independent
School
District
School
Improvements
GO,
(PSF-GTD),
5.00%,
02/15/28
............
719,055
440,000
Lamar
Consolidated
Independent
School
District
School
Improvements
GO,
(PSF-GTD),
5.00%,
02/15/29
............
544,013
10,000,000
Lone
Star
College
System
Advance
Refunding
GO,
5.00%,
02/15/29
............
11,941,167
1,860,000
Longview
Independent
School
District
Advance
Refunding
GO,
(PSF-GTD),
5.00%,
02/15/23
............
1,998,840
225,000
Longview
Independent
School
District
Advance
Refunding
GO,
(PSF-GTD),
5.00%,
02/15/26
............
271,362
1,050,000
Longview
Independent
School
District
Current
Refunding
GO,
(PSF-GTD),
5.00%,
02/15/23
............
1,128,377
2,670,000
Magnolia
Independent
School
District
School
Improvement
Advance
Refunding
GO,
(PSF-GTD),
5.00%,
08/15/25
............
3,164,027
3,410,000
Manor
Independent
School
District
Advance
Refunding
GO,
(PSF-GTD),
5.00%,
08/01/24
............
3,888,758
1,005,000
Mesquite
Independent
School
District
Advance
Refunding
GO,
Series
A,
(PSF-GTD),
5.00%,
08/15/23
............
1,104,880
1,060,000
Mesquite
Independent
School
District
Advance
Refunding
GO,
Series
A,
(PSF-GTD),
5.00%,
08/15/24
............
1,213,727
1,435,000
Mesquite
Independent
School
District
Advance
Refunding
GO,
Series
B,
(PSF-GTD),
5.00%,
08/15/23
............
1,577,614
Principal
Amount
Value
Texas
(continued)
$
1,650,000
Mesquite
Independent
School
District
Advance
Refunding
GO,
Series
B,
(PSF-GTD),
5.00%,
08/15/25
............
$
1,958,946
585,000
Mesquite
Independent
School
District
Advance
Refunding
GO,
Series
B,
(PSF-GTD),
5.00%,
08/15/26
............
716,952
1,170,000
Mesquite
Independent
School
District
Current
Refunding
GO,
Series
A
(PSF-GTD),
5.00%,
08/15/25
............
1,389,071
580,000
Mesquite
Independent
School
District
Current
Refunding
GO,
Series
A,
(PSF-GTD),
5.00%,
08/15/24
............
664,115
1,000,000
Mesquite
Independent
School
District
Improvements
GO,
Series
C,
(PSF-GTD),
5.00%,
08/15/21
............
1,001,656
500,000
Mesquite
Independent
School
District
School
Improvements
GO,
Series
C,
(PSF-GTD),
5.00%,
08/15/22
............
525,630
5,030,000
Metropolitan
Transit
Authority
of
Harris
County
Sales
Tax
Revenue
Bonds,
Series
B,
5.00%,
11/01/23
(a)
..........
5,090,974
1,765,000
North
Texas
Municipal
Water
District
Water
System
Revenue
Current
Refunding
Revenue
Bonds,
5.00%,
09/01/26
............
2,165,117
2,000,000
North
Texas
Municipal
Water
District
Water
System
Revenue
Current
Refunding
Revenue
Bonds,
5.00%,
09/01/27
............
2,522,248
1,600,000
North
Texas
Municipal
Water
District
Water
System
Revenue
Current
Refunding
Revenue
Bonds,
5.00%,
09/01/28
............
2,070,125
1,700,000
Northside
Independent
School
District
Current
Refunding
GO,
(PSF-GTD),
5.00%,
08/15/29
............
2,256,043
2,185,000
Northside
Independent
School
District
Current
Refunding
GO,
(PSF-GTD),
5.00%,
08/15/31
............
2,953,145
Old
Westbury
Funds,
Inc.
Municipal
Bond
Fund
Portfolio
of
Investments
-
(Continued)
32
July
31,
2021
(Unaudited)
Principal
Amount
Value
Texas
(continued)
$
590,000
Northside
Independent
School
District
Current
Refunding
GO,
Series
B,
(PSF-GTD),
5.00%,
02/15/27
............
$
735,212
545,000
Northside
Independent
School
District
School
Improvements
GO,
(PSF-GTD),
5.00%,
08/15/25
............
648,253
3,000,000
Northwest
Independent
School
District
Refunding
GO,
Series
B,
(PSF-GTD),
5.00%,
02/15/23
............
3,227,796
2,525,000
Northwest
Independent
School
District
Refunding
GO,
Series
B,
(PSF-GTD),
5.00%,
02/15/25
............
2,936,650
500,000
Palestine
Independent
School
District
Advance
Refunding
GO,
(PSF-GTD),
5.00%,
02/15/25
............
580,748
1,145,000
Palestine
Independent
School
District
Advance
Refunding
GO,
(PSF-GTD),
5.00%,
02/15/23
............
1,228,446
1,220,000
Palestine
Independent
School
District
Advance
Refunding
GO,
(PSF-GTD),
5.00%,
02/15/28
............
1,459,238
4,420,000
Pasadena
Independent
School
District
School
Improvement
Refunding
GO,
(PSF-GTD),
5.00%,
02/15/25
(a)
..........
4,753,884
1,000,000
Pecos
Barstow
Toyah
Independent
School
District
Advance
Refunding
GO,
(PSF-GTD),
5.00%,
02/15/23
............
1,074,735
21,665,000
Permanent
University
Fund
-
Texas
A&M
University
System
Refunding
Revenue
Bonds,
5.50%,
07/01/28
............
26,059,115
650,000
Petersburg
Independent
School
District
School
Improvements
GO,
(PSF-GTD),
5.00%,
02/15/26
............
783,286
1,525,000
Plano
Independent
School
District
School
Improvement
GO,
(PSF-GTD),
5.00%,
02/15/23
............
1,639,815
Principal
Amount
Value
Texas
(continued)
$
5,000,000
Plano
Independent
School
District
School
Improvement
GO,
(PSF-GTD),
5.00%,
02/15/26
............
$
6,042,802
1,050,000
Point
Isabel
Independent
School
District
Current
Refunding
GO,
(PSF-GTD),
5.00%,
02/01/25
............
1,221,483
1,995,000
Port
Arthur
Independent
School
District
Advance
Refunding
GO,
(PSF-GTD),
Series
B,
5.00%,
02/15/25
............
2,318,714
1,000,000
Prosper
Independent
School
District
School
Building
School
Improvement
GO,
(PSF-GTD),
5.00%,
02/15/25
............
1,166,874
925,000
Roma
Independent
School
District
Current
Refunding
GO,
(PSF-GTD),
5.00%,
08/15/22
............
971,325
1,020,000
Roma
Independent
School
District
Current
Refunding
GO,
(PSF-GTD),
5.00%,
08/15/23
............
1,119,393
1,075,000
Roma
Independent
School
District
Current
Refunding
GO,
(PSF-GTD),
5.00%,
08/15/24
............
1,227,735
1,000,000
Roma
Independent
School
District
Current
Refunding
GO,
(PSF-GTD),
5.00%,
08/15/25
............
1,182,822
1,330,000
San
Antonio
Independent
School
District
School
Improvements
GO,
(PSF-GTD),
5.00%,
08/15/23
............
1,463,040
1,185,000
San
Antonio
Water
System
Water
Utility
Improvements
Revenue
Bonds,
Series
C,
5.00%,
05/15/36
............
1,565,664
2,600,000
San
Antonio
Water
System
Water
Utility
Improvements
Revenue
Bonds,
Series
C,
5.00%,
05/15/39
............
3,392,376
205,000
San
Elizario
Independent
School
District
School
Improvements
GO,
(PSF-GTD),
5.00%,
05/01/25
............
240,732
Old
Westbury
Funds,
Inc.
Municipal
Bond
Fund
Portfolio
of
Investments
-
(Continued)
33
July
31,
2021
(Unaudited)
Principal
Amount
Value
Texas
(continued)
$
1,000,000
Socorro
Independent
School
District
Current
Refunding
GO,
Series
B,
(PSF-GTD),
5.00%,
08/15/25
............
$
1,162,263
2,160,000
Spring
Independent
School
District
Advance
Refunding
GO,
(PSF-GTD),
5.00%,
08/15/22
............
2,269,332
7,180,000
Spring
Independent
School
District
Advance
Refunding
GO,
Series
A,
5.00%,
08/15/28
............
8,767,466
2,300,000
State
of
Texas
Highway
Improvements
GO,
5.00%,
04/01/27
............
2,787,965
3,720,000
State
of
Texas
Highway
Improvements
Revenue
Bonds
GO,
5.00%,
04/01/44
(a)
..........
4,195,784
5,000,000
State
of
Texas
Public
Finance
Authority
Advance
Refunding
GO,
5.00%,
10/01/26
............
6,163,589
5,000,000
State
of
Texas
Public
Finance
Authority
Advance
Refunding
GO,
2.18%,
10/01/27
............
5,358,113
2,500,000
State
of
Texas
Refunding
Public
Notes
GO,
Series
A,
5.00%,
10/01/21
............
2,519,924
3,200,000
State
of
Texas
Transportation
Commission
Advance
Refunding
GO,
Series
A,
5.00%,
10/01/25
............
3,818,950
5,000,000
State
of
Texas
Transportation
Commission
Advance
Refunding
GO,
Series
A,
5.00%,
10/01/28
............
5,962,530
6,500,000
State
of
Texas
Transportation
Commission
Highway
Improvement
GO,
5.00%,
04/01/25
............
7,620,489
3,500,000
State
of
Texas
Transportation
Commission
Refunding
GO,
Series
A,
5.00%,
10/01/22
............
3,700,661
1,000,000
State
of
Texas,
Water
Financial
Assistance
Refunding
GO,
Subseries
B-2,
5.00%,
08/01/28
............
1,141,689
500,000
Stephenville
Independent
School
District
School
Improvements
GO,
(PSF-GTD),
5.00%,
02/15/31
............
616,985
Principal
Amount
Value
Texas
(continued)
$
1,000,000
Sulphur
Springs
Independent
School
District
Advance
Refunding
GO,
(PSF-
GTD),
5.00%,
08/15/26
............
$
1,223,883
1,000,000
Temple
Independent
School
District
Advance
Refunding
GO,
(PSF-
GTD),
5.00%,
02/01/27
............
1,239,812
1,000,000
Texas
A&M
University
University
&
College
Improvements
Revenue
Bonds,
Series
A,
5.00%,
05/15/29
............
1,317,898
1,250,000
Texas
A&M
University
University
&
College
Improvements
Revenue
Bonds,
Series
A,
0.59%,
05/15/24
............
1,256,425
1,000,000
Texas
State
University
System
University
&
College
Improvements
Revenue
Bonds,
Series
A,
5.00%,
03/15/24
............
1,125,783
1,000,000
Texas
Transportation
Commission
State
Highway
Fund
First
Tier
Advance
Refunding
Revenue
Bonds,
5.00%,
10/01/22
............
1,057,332
5,785,000
Texas
Transportation
Commission
State
Highway
Fund
First
Tier
Advance
Refunding
Revenue
Bonds,
5.00%,
10/01/24
............
6,670,538
4,250,000
Texas
Transportation
Commission
State
Highway
Fund
Highway
Improvements
Revenue
Bonds
Series
A,
5.00%,
10/01/26
............
5,243,945
1,250,000
Texas
Water
Development
Board
Water
Utility
Improvements
Revenue
Bonds,
Series
A,
5.00%,
10/15/23
............
1,385,204
1,000,000
Trinity
River
Authority
Central
Regional
Wastewater
System
Advance
Refunding
Revenue
Bonds,
5.00%,
08/01/24
............
1,143,628
2,000,000
Trinity
River
Authority
Central
Regional
Wastewater
System
Revenue
Current
Refunding
Revenue
Bonds,
5.00%,
08/01/30
............
2,704,692
Old
Westbury
Funds,
Inc.
Municipal
Bond
Fund
Portfolio
of
Investments
-
(Continued)
34
July
31,
2021
(Unaudited)
Principal
Amount
Value
Texas
(continued)
$
500,000
United
Independent
School
District
GO,
(PSF-GTD),
5.00%,
08/15/22
............
$
525,630
1,680,000
United
Independent
School
District
GO,
(PSF-GTD),
5.00%,
08/15/23
............
1,846,601
935,000
United
Independent
School
District
GO,
(PSF-GTD),
5.00%,
08/15/24
............
1,070,599
2,085,000
United
Independent
School
District
GO,
(PSF-GTD),
5.00%,
08/15/25
............
2,476,318
1,000,000
United
Independent
School
District
GO,
(PSF-GTD),
5.00%,
08/15/27
............
1,262,974
500,000
University
of
North
Texas
System
University
&
College
Improvements
Revenue
Bonds,
Series
A,
5.00%,
04/15/22
............
517,199
7,000,000
University
of
Texas
System
Advance
Refunding
Revenue
Bonds,
Series
C,
5.00%,
08/15/26
............
8,598,503
3,000,000
University
of
Texas
System
Advance
Refunding
Revenue
Bonds,
Series
C,
5.00%,
08/15/21
............
3,004,967
1,065,000
University
of
Texas
System
Refunding
Revenue
Bonds,
Series
A,
5.00%,
08/15/29
............
1,210,760
4,000,000
University
of
Texas
System
University
and
College
Improvements
Revenue,
Series
D,
5.00%,
08/15/23
............
4,397,531
640,000
Valley
View
Independent
School
District/Hidalgo
County
Current
Refunding
GO,
(PSF-GTD),
5.00%,
02/15/26
............
769,319
640,000
Wall
Independent
School
District
School
Improvements
GO,
(PSF-GTD),
5.00%,
02/15/27
............
742,623
315,000
Wichita
Falls
Independent
School
District
School
Improvements
GO,
Series
A,
(PSF-GTD),
5.00%,
02/01/24
............
352,685
Principal
Amount
Value
Texas
(continued)
$
1,210,000
Wichita
Falls
Independent
School
District
School
Improvements
GO,
Series
A,
(PSF-GTD),
5.00%,
02/01/23
............
$
1,298,045
430,000
Wildorado
Independent
School
District
School
Improvements
GO,
(PSF-GTD),
5.00%,
02/15/25
............
498,785
450,000
Wildorado
Independent
School
District
School
Improvements
GO,
(PSF-GTD),
5.00%,
02/15/26
............
522,329
300,000
Woden
Independent
School
District
School
Improvements
GO,
(PSF-GTD),
5.00%,
02/15/28
............
383,570
474,422,001
Utah
—
1.5%
1,255,000
City
of
Salt
Lake
City
UT
Airport
Revenue
Airport
&
Marina
Improvements
Revenue
Bonds,
Series
A,
5.00%,
07/01/25
............
1,477,380
1,635,000
City
of
Salt
Lake
City
UT
Airport
Revenue
Airport
&
Marina
Improvements
Revenue
Bonds,
Series
A,
5.00%,
07/01/26
............
1,986,845
2,250,000
City
of
Salt
Lake
City
UT
Airport
Revenue
Airport
&
Marina
Improvements
Revenue
Bonds,
Series
A,
5.00%,
07/01/27
............
2,804,737
2,500,000
City
of
Salt
Lake
City
UT
Airport
Revenue
Airport
&
Marina
Improvements
Revenue
Bonds,
Series
A,
5.00%,
07/01/28
............
3,191,820
3,365,000
City
of
Salt
Lake
City
UT
Airport
Revenue
Airport
&
Marina
Improvements
Revenue
Bonds,
Series
A,
5.00%,
07/01/29
............
4,389,740
4,920,000
City
of
Salt
Lake
City
UT
Airport
Revenue
Airport
&
Marina
Improvements
Revenue
Bonds,
Series
A,
5.00%,
07/01/30
............
6,532,507
Old
Westbury
Funds,
Inc.
Municipal
Bond
Fund
Portfolio
of
Investments
-
(Continued)
35
July
31,
2021
(Unaudited)
Principal
Amount
Value
Utah
(continued)
$
8,690,000
City
of
Salt
Lake
City
UT
Airport
Revenue
Airport
&
Marina
Improvements
Revenue
Bonds,
Series
A,
5.00%,
07/01/31
............
$
11,711,118
6,390,000
City
of
Salt
Lake
City
UT
Airport
Revenue
Airport
&
Marina
Improvements
Revenue
Bonds,
Series
A,
5.00%,
07/01/32
............
8,560,886
5,000,000
City
of
Salt
Lake
City
UT
Airport
Revenue
Airport
&
Marina
Improvements
Revenue
Bonds,
Series
A,
5.00%,
07/01/36
............
6,586,326
610,000
City
of
Salt
Lake
City
Ut
Public
Utilities
Revenue
Bonds,
5.00%,
02/01/29
............
801,744
600,000
City
of
Salt
Lake
City
Ut
Public
Utilities
Revenue
Bonds,
5.00%,
02/01/30
............
785,583
840,000
Salt
Lake
County
Municipal
Building
Authority
Public
Facilities
Revenue
Bonds,
5.00%,
01/15/31
............
1,053,629
10,000,000
State
of
Utah
Highway
Improvements
Revenue
Bonds
GO,
5.00%,
07/01/26
............
12,246,897
200,000
Washington
County
School
District
Board
of
Education/St
George
School
Improvements
Refunding
GO,
(School
Board
GTY),
5.00%,
03/01/22
............
205,727
62,334,939
Virginia
—
3.0%
555,000
City
of
Alexandria
Advance
Refunding
GO,
Series
C,
(State
Aid
Withholding),
5.00%,
07/01/22
............
579,999
3,045,000
City
of
Newport
News
Public
Improvements
GO,
Series
A,
(State
Aid
Withholding),
5.00%,
02/01/27
............
3,775,227
1,530,000
City
of
Newport
News
Public
Improvements
GO,
Series
A,
(State
Aid
Withholding),
5.00%,
02/01/29
............
1,997,923
Principal
Amount
Value
Virginia
(continued)
$
2,975,000
City
of
Newport
News
Water
Revenue
Water
Utility
Improvements
Revenue
Bonds,
5.00%,
07/15/30
............
$
4,019,604
2,955,000
City
of
Richmond
Public
Utility
Revenue,
Sewer
Improvement
Revenue
Bonds,
Series
A,
5.00%,
01/15/34
............
3,923,136
1,000,000
City
of
Richmond
Public
Utility
Revenue,
Sewer
Improvement
Revenue
Bonds,
Series
A,
5.00%,
01/15/35
............
1,322,604
7,430,000
Commonwealth
of
Virginia
Advance
Refunding
GO,
Series
B
(State
Aid
Withholding),
5.00%,
06/01/28
............
8,776,021
2,275,000
Commonwealth
of
Virginia
University
&
College
Improvements
GO,
Series
A,
5
.00%,
06/01/22
............
2,366,045
2,715,000
County
of
Fairfax
School
Improvements
GO,
Series
A,
(State
Aid
Withholding),
5.00%,
10/01/25
............
3,246,366
5,000,000
County
of
Fairfax
School
Improvements
GO,
Series
A,
(State
Aid
Withholding),
5.00%
,
10/01/27
............
6,255,667
525,000
County
of
Fairfax
School
Improvements
GO,
Series
A,
(State
Aid
Withholding),
5.00%,
10/01/28
............
657,644
7,965,000
County
of
Fairfax
School
Improvements
GO,
Series
A,
(State
Aid
Withholding),
5.00%,
10/01/29
............
9,951,430
7,530,000
County
of
Loudoun
Public
Facilities
GO,
Series
A,
(State
Aid
Withholding),
5.00%,
12/01/26
............
9,357,062
1,170,000
Prince
William
County
Industrial
Development
Authority
Public
Improvements
Refunding
Revenue
Bonds,
Series
A,
5.00%,
10/01/24
............
1,345,087
4,300,000
Virginia
College
Building
Authority
University
&
College
Improvements
Revenue
Bonds,
Series
B,
5.00%,
02/01/25
............
5,013,713
Old
Westbury
Funds,
Inc.
Municipal
Bond
Fund
Portfolio
of
Investments
-
(Continued)
36
July
31,
2021
(Unaudited)
Principal
Amount
Value
Virginia
(continued)
$
6,000,000
Virginia
Commonwealth
Transportation
Board
Advance
Refunding
Revenue
Bonds,
5.00%,
09/15/29
............
$
7,579,554
5,375,000
Virginia
Commonwealth
Transportation
Board
Advance
Refunding
Revenue
Bonds,
Series
A,
5.00%,
05/15/28
............
6,858,375
2,510,000
Virginia
Commonwealth
Transportation
Board
Transit
Improvements
Revenue
Bonds,
5.00%,
03/15/23
............
2,710,464
815,000
Virginia
Commonwealth
Transportation
Board
Transit
Improvements
Revenue
Bonds,
5.00%,
03/15/25
............
954,579
1,345,000
Virginia
Commonwealth
Transportation
Board
Transit
Improvements
Revenue
Bonds,
5.00%,
03/15/26
............
1,629,351
2,175,000
Virginia
Commonwealth
Transportation
Board
Transit
Improvements
Revenue
Bonds,
5.00%,
03/15/29
............
2,865,003
1,250,000
Virginia
Commonwealth
Transportation
Board
Transit
Improvements
Revenue
Bonds,
5.00%,
03/15/30
............
1,683,641
3,935,000
Virginia
Commonwealth
Transportation
Board
Transit
Improvements
Revenue
Bonds,
5.00%,
03/15/32
............
5,312,792
4,160,000
Virginia
Commonwealth
Transportation
Board
Transit
Improvements
Revenue
Bonds,
5.00%,
03/15/33
............
5,589,693
5,000,000
Virginia
Commonwealth
Transportation
Board
Transit
Improvements
Revenue
Bonds,
5.00%,
05/15/27
............
6,079,509
5,000,000
Virginia
Commonwealth
Transportation
Board
Transit
Improvements
Revenue
Bonds,
Series
A,
5.00%,
03/15/23
(a)
..........
5,152,580
2,465,000
Virginia
Public
Building
Authority
Revenue
Bonds,
Series
A,
5.00%
,
08/01/21
............
2,465,000
Principal
Amount
Value
Virginia
(continued)
$
4,450,000
Virginia
Public
School
Authority
Advance
Refunding
Revenue
Bonds,
5.00%,
08/01/24
............
$
5,093,466
870,000
Virginia
Public
School
Authority
Refunding
Revenue
Bonds,
Series
A,
(State
Aid
Withholding),
5.00%,
08/01/25
............
1,033,795
2,790,000
Virginia
Public
School
Authority
School
Improvement
Revenue
Bonds,
Series
A,
(State
Aid
Withholding),
5.00%,
10/01/23
............
3,085,356
920,000
Virginia
Public
School
Authority
School
Improvements
Revenue
Bonds,
Series
A,
(State
Aid
Withholding),
5.00%,
10/01/25
............
1,099,636
2,000,000
Virginia
Resources
Authority
Advance
Refunding
Revenue,
5.00%,
11/01/26
............
2,478,832
750,000
Virginia
Resources
Authority
Refunding
Revenue
Bonds,
5.00%,
11/01/23
............
832,522
395,000
Virginia
Resources
Authority
Refunding
Revenue
Bonds,
5.00%,
11/01/25
(a)
..........
456,006
755,000
Virginia
Resources
Authority
Refunding
Revenue
Bonds,
5.00%,
11/01/25
............
872,853
126,420,535
Washington
—
4.7%
1,025,000
Benton
County
School
District
No
17
Kennewick
School
Improvements
GO,
(School
Board
GTY),
5.00%,
12/01/21
............
1,041,408
100,000
Central
Puget
Sound
Regional
Transit
Authority
Green
Purpose
Revenue
Bonds,
Series
S-1,
5.00%,
11/01/26
............
123,590
1,050,000
Chelan
County
School
District
No
228
Cascade
School
Improvements
GO,
(School
Board
GTY),
5.00%,
12/01/26
............
1,277,960
11,320,000
City
of
Seattle
WA
Drainage
&
Wastewater
Revenue
Sewer
Improvements
Revenue
Bonds,
5.00%,
09/01/30
............
15,373,275
Old
Westbury
Funds,
Inc.
Municipal
Bond
Fund
Portfolio
of
Investments
-
(Continued)
37
July
31,
2021
(Unaudited)
Principal
Amount
Value
Washington
(continued)
$
11,620,000
City
of
Seattle
WA
Drainage
&
Wastewater
Revenue
Sewer
Improvements
Revenue
Bonds,
5.00%,
09/01/31
............
$
16,139,725
1,600,000
Clark
County
Public
Utility
District
No
1
Refunding
Revenue
Bonds,
5.00%,
01/01/27
............
1,913,414
825,000
Clark
County
School
District
No
117
Camas
School
Improvements
GO,
(School
Board
GTY),
5.00%,
12/01/24
............
956,825
1,035,000
County
of
King
Refunding
GO,
5.00%,
07/01/25
............
1,203,004
5,395,000
County
of
King
Refunding
GO,
5.00%,
07/01/26
............
6,276,888
9,000,000
County
of
King
School
District
No
411
Issaquah
School
Improvement
GO,
(School
Board
GTY),
5.00%,
12/01/32
............
11,349,125
5,000,000
County
of
King
Sewer
Improvements
GO,
Series
A,
5.00%,
01/01/29
............
6,554,568
10,000,000
County
of
King
Sewer
Improvements
GO,
Series
A,
5.00%,
01/01/30
............
13,345,160
5,000,000
County
of
King
Sewer
Improvements
GO,
Series
A,
5.00%,
01/01/31
............
6,828,085
1,000,000
County
of
King
WA
Sewer
Advance
Refunding
Revenue
Bonds,
5
.00%,
07/01/30
............
1,248,405
8,000,000
County
of
King
WA
Sewer
Revenue
Sewer
Improvement
Revenue
Bonds,
Series
B,
5.00%,
07/01/29
............
10,263,222
10,000,000
Energy
Northwest
Advance
Refunding
Revenue
Bonds,
Series
A,
5.00%,
07/01/27
............
12,192,367
3,000,000
Energy
Northwest
Advance
Refunding
Revenue
Bonds,
Series
A,
5.00%,
07/01/27
............
3,545,161
2,250,000
Energy
Northwest
Current
Refunding
Revenue
Bonds,
Series
A,
5.00%,
07/01/26
............
2,746,957
3,900,000
Energy
Northwest
Refunding
Revenue
Bonds,
Series
A,
5.00%,
07/01/28
............
4,070,158
Principal
Amount
Value
Washington
(continued)
$
565,000
Jefferson
County
School
District
No
50
Port
Townsend
School
Improvements
GO,
(School
Board
GTY),
5.00%,
12/01/23
............
$
627,281
250,000
Jefferson
County
School
District
No
50
Port
Townsend
School
Improvements
GO,
(School
Board
GTY),
5.00%,
12/01/25
............
298,873
5,000,000
Port
of
Seattle
Airport
&
Marina
Improvements
Refunding
Revenue
Bonds,
Series
C,
5.00%,
08/01/27
............
6,218,028
5,000,000
Port
of
Seattle
Airport
&
Marina
Improvements
Refunding
Revenue
Bonds,
Series
C,
5.00%,
08/01/29
............
6,490,395
5,000,000
Port
of
Seattle
Airport
&
Marina
Improvements
Refunding
Revenue
Bonds,
Series
C,
5.00%,
08/01/30
............
6,614,851
5,000,000
Port
of
Seattle
Airport
&
Marina
Improvements
Refunding
Revenue
Bonds,
Series
C,
5.00%,
08/01/31
............
6,750,201
5,000,000
Port
of
Seattle
Airport
&
Marina
Improvements
Refunding
Revenue
Bonds,
Series
C,
5.00%,
08/01/32
............
6,727,746
6,885,000
Port
of
Seattle
Current
Refunding
Revenue
Bonds,
5.00%,
09/01/25
............
8,143,778
4,390,000
Port
of
Seattle
Current
Refunding
Revenue
Bonds,
5.00%,
09/01/26
............
5,353,115
750,000
Port
of
Seattle
Inter
Lien
Refunding
Revenue
Bonds,
5.00%,
02/01/27
............
898,219
5,000,000
Port
of
Seattle
Refunding
GO,
5.00%,
06/01/24
............
5,680,177
1,120,000
Skagit
County
Consolidated
School
District
No
320
Mount
Vernon
School
Improvements
Refunding
GO,
(School
Board
GTY),
5.00%,
12/01/23
............
1,244,293
750,000
Snohomish
County
Public
Utility
District
No
1
Current
Refunding
Revenue
Bonds,
Series
A,
5.00%,
12/01/23
............
834,535
Old
Westbury
Funds,
Inc.
Municipal
Bond
Fund
Portfolio
of
Investments
-
(Continued)
38
July
31,
2021
(Unaudited)
Principal
Amount
Value
Washington
(continued)
$
750,000
Snohomish
County
Public
Utility
District
No
1
Current
Refunding
Revenue
Bonds,
Series
A,
5.00%,
12/01/24
............
$
868,484
5,000,000
Snohomish
County
School
District
No
201
Refunding
GO,
(School
Board
GTY),
5
.00%,
12/01/25
............
5,671,045
775,000
Spokane
&
Whitman
Counties
School
District
No
360
Cheney
Advance
Refunding
GO,
(School
Board
GTY),
5.00%,
12/01/23
............
862,545
1,000,000
State
of
Washington
Advance
Refunding
COP,
(State
Aid
Intercept
Program),
5.00%,
07/01/24
............
1,139,839
5,475,000
State
of
Washington
Public
Improvements
GO,
Series
C,
5.00%,
02/01/30
............
6,352,546
2,760,000
State
of
Washington
Public
Improvements
GO,
Series
D,
5.00%,
02/01/24
............
3,095,353
800,000
State
of
Washington
Refunding
GO,
Series
R-2012C,
5.00%,
07/01/23
............
835,906
4,435,000
Yakima
County
School
District
No
7
Yakima
Advance
Refunding
GO,
(School
Board
GTY),
5.00%,
12/01/24
............
5,132,428
196,288,935
West
Virginia
—
0.1%
1,650,000
West
Virginia
Parkways
Authority
Highway
Improvements
Revenue
Bonds,
5.00%,
06/01/26
............
2,010,872
1,000,000
West
Virginia
Parkways
Authority
Highway
Improvements
Revenue
Bonds,
5.00%,
06/01/30
............
1,347,821
3,358,693
Wisconsin
—
1.4%
1,000,000
State
of
Wisconsin
Advance
Refunding
Revenue
Bonds,
Series
B,
5.00%,
05/01/28
............
1,212,294
Principal
Amount
Value
Wisconsin
(continued)
$
4,700,000
State
of
Wisconsin
Clean
Water
Fund
Leveraged
Loan
Portfolio
Advance
Refunding
Revenue
Bonds,
5.00%,
06/01/29
(a)
..........
$
5,337,247
1,000,000
State
of
Wisconsin
Clean
Water
Fund
Leveraged
Loan
Portfolio
Advance
Refunding
Revenue
Bonds,
Series
1,
5.00%,
06/01/23
............
1,088,683
1,000,000
State
of
Wisconsin
Clean
Water
Fund
Leveraged
Loan
Portfolio
Refunding
Revenue
Bonds,
Series
1,
5.00
%,
06/01/26
(a)
..........
1,088,684
14,000,000
State
of
Wisconsin
Current
Refunding
Revenue
Bonds,
Series
A,
5.00%,
05/01/29
............
17,457,415
10,465,000
State
of
Wisconsin
Environmental
Improvement
Fund
Revenue,
Green
Bond,
Series
A,
5.00%,
06/01/35
............
13,704,858
1,200,000
State
of
Wisconsin
General
Fund
Advance
Refunding
Revenue
Bonds,
Series
B,
5.00%,
05/01/27
............
1,459,794
3,205,000
State
of
Wisconsin
Public
Improvements
GO,
Series
B,
5.00%,
05/01/30
(a)
..........
3,323,065
1,900,000
State
of
Wisconsin
Refunding
Bonds
GO,
Series
3,
5.00%,
11/01/25
(a)
..........
2,016,494
1,000,000
State
of
Wisconsin
Refunding
GO,
Series
1,
5.00%,
05/01/24
............
1,085,956
860,000
State
of
Wisconsin
Refunding
Notes
GO,
Series
A,
5.00%,
05/01/28
............
1,011,309
6,000,000
Wisconsin
Department
of
Transportation
Advance
Refunding
Revenue
Bonds,
Series
1,
1.01%,
07/01/26
............
6,031,506
1,600,000
Wisconsin
Department
of
Transportation
Pre-refunded
Current
Refunding
Revenue
Bonds,
Series
1,
5.00%,
07/01/29
(a)
..........
1,671,983
Old
Westbury
Funds,
Inc.
Municipal
Bond
Fund
Portfolio
of
Investments
-
(Continued)
39
July
31,
2021
(Unaudited)
The
following
abbreviations
are
used
in
the
report:
Principal
Amount
Value
Wisconsin
(continued)
$
2,250,000
Wisconsin
Health
&
Educational
Facilities
Authority
Refunding
Revenue
Bonds,
Series
A,
5.13%,
04/15/31
(a)
..........
$
2,436,753
58,926,041
Total
Municipal
Bonds
(Cost
$3,770,619,818)
3,883,325,383
CORPORATE
BONDS
—
1.8%
United
States
—
1.8%
1,675,000
Andrew
W
Mellon
Foundation
(The),
Series
2020,
0.95%,
08/01/27
............
1,644,990
3,000,000
BayCare
Health
System,
Inc.,
Series
2020,
2.61%,
11/15/22
............
3,082,477
5,000,000
Baylor
Scott
&
White
Holdings,
Series
2021,
0.83%,
11/15/25
............
4,943,070
1,750,000
Bon
Secours
Mercy
Health,
Inc.,
1.35%,
06/01/25
............
1,777,769
8,000,000
Brown
University
in
Providence
in
the
State
of
Rhode
Island
and
Providence
Plant,
Series
A,
1.91%,
09/01/30
............
8,191,374
5,000,000
Leland
Stanford
Junior
University
(The),
1.29%,
06/01/27
............
5,071,303
5,750,000
PeaceHealth
Obligated
Group,
Series
2020,
1.38%,
11/15/25
............
5,841,779
20,500,000
Seattle
Children's
Hospital,
Series
2021,
1.21%,
10/01/27
............
20,189,580
1,000,000
Smithsonian
Institution,
1.77%,
09/01/28
............
1,011,592
10,000,000
Yale
University,
Series
2020,
0.87%,
04/15/25
............
10,061,243
12,550,000
Yale
University,
Series
2020,
1.48%,
04/15/30
............
12,549,729
Total
Corporate
Bonds
(Cost
$74,267,510)
74,364,906
Principal
Amount
Value
U.S.
GOVERNMENT
SECURITIES
—
3.8%
U.S.
Treasury
Notes
—
3.8%
$
160,000,000
1.13%,
02/15/31
................
$
158,500,000
Total
U.S.
Government
Securities
(Cost
$156,995,722)
158,500,000
Shares
INVESTMENT
COMPANY
—
4.1%
172,780,349
SEI
Daily
Income
Trust
Government
II
Fund
-
Class
A,
0.01%(d)
...
172,780,349
Total
Investment
Company
(Cost
$172,780,349)
172,780,349
TOTAL
INVESTMENTS
—
102.0%
(Cost
$4,174,663,399)
$
4,288,970,638
LIABILITIES
IN
EXCESS
OF
OTHER
ASSETS
—
(2.0)%
(84,467,775)
NET
ASSETS
—
100.0%
$
4,204,502,863
(a)
These
securities
are
pre-refunded;
the
date
shown
represents
the
pre-
refunded
date.
Bonds
which
are
pre-refunded
are
collateralized
by
U.S.
Government
securities
which
are
held
in
escrow
and
are
used
to
pay
principal
and
interest
on
the
municipal
issue
and
to
retire
the
bonds
in
full
at
the
earliest
refunding
date.
(b)
Variable
or
floating
rate
security,
which
interest
rate
adjusts
periodically
based
on
changes
in
current
interest
rates
and
prepayments
on
the
underlying
pool
of
assets.
Rate
shown
is
the
rate
in
effect
as
of
July
31,
2021.
(c)
These
securities
are
subject
to
remarketing
prior
to
its
stated
maturity,
and
is
subject
to
mandatory
redemption
at
the
stated
maturity
date.
(d)
The
rate
shown
represents
the
current
yield
as
of
July
31,
2021.
AGM
—
Assured
Guaranty
Municipal
Corp.
COP
—
Certificates
of
Participation
GO
—
General
Obligation
GTY
—
Guaranty
NATL-RE
—
Insured
by
National
Public
Finance
Guarantee
Corp.
PSF-GTD
—
Permanent
School
Fund
Guarantee
Q-SBLF
—
Qualified-School
Board
Loan
Fund
Old
Westbury
Funds,
Inc.
Municipal
Bond
Fund
Portfolio
of
Investments
-
(Continued)
40
July
31,
2021
(Unaudited)
Portfolio
Diversification
by
State
(Unaudited)
State:
Percentage
of
Net
Assets
Alabama
....................................
1.0
%
Arizona
.....................................
1.3
Arkansas
....................................
0.2
California
...................................
4.5
Colorado
....................................
2.5
Connecticut
.................................
3.3
Delaware
....................................
2.2
District
of
Columbia
...........................
2.1
Florida
.....................................
3.6
Georgia
.....................................
3.8
Hawaii
.....................................
3.2
Idaho
......................................
0.1
Illinois
.....................................
0.2
Indiana
.....................................
0.3
Iowa
.......................................
1.2
Kansas
.....................................
0.1
Maine
......................................
0.2
Maryland
...................................
3.4
Massachusetts
................................
3.4
Michigan
...................................
0.2
Minnesota
...................................
1.2
Mississippi
..................................
0.3
Missouri
....................................
0.4
Montana
....................................
0.1
Nevada
.....................................
0.2
New
Hampshire
..............................
0.2
New
Jersey
..................................
3.3
New
Mexico
.................................
0.0
*
New
York
...................................
16.5
North
Carolina
...............................
1.9
Ohio
.......................................
3.4
Oklahoma
...................................
0.7
Oregon
.....................................
0.9
Pennsylvania
.................................
2.5
Rhode
Island
.................................
0.3
South
Carolina
...............................
0.3
South
Dakota
................................
0.7
Tennessee
...................................
0.6
Texas
.......................................
11.3
Utah
.......................................
1.5
Virginia
....................................
3.0
Washington
..................................
4.7
West
Virginia
................................
0.1
Wisconsin
...................................
1.4
Other**
.....................................
7.7
100.0%
*
Represents
less
than
0.01%
of
net
assets.
**
Includes
cash
and
equivalents,
Corporate
Bonds,
U.S.
Government
Securities,
investment
company,
pending
trades
and
Fund
share
transactions,
interest
and
dividends
receivable,
prepaids
and
accrued
expenses
payable.