William Blair Small Cap Growth Fund Class N (WBSNX) is a mutual fund managed by William Blair Investment Management, LLC, that seeks long-term capital appreciation by investing primarily in a diversified portfolio of small-cap growth stocks. The fund focuses on equity securities of small companies with market capitalizations generally between $100 million and $4 billion at the time of investment, emphasizing companies demonstrating strong business momentum, high earnings growth potential, and attractive valuations; it employs a bottom-up fundamental research process to identify undervalued growth opportunities across sectors such as technology, healthcare, consumer discretionary, and industrials. Shares of the fund are offered to retail investors through financial advisors, broker-dealers, and retirement plans, with Class N featuring a no-load structure and expense ratio typically around 1.19% as of recent prospectuses. William Blair Investment Management, founded in 1935 and headquartered in Chicago, Illinois, operates globally with offices in the United States, Europe, and Asia, serving institutional and individual clients in asset management and investment banking. In recent developments, the firm expanded its small-cap offerings through strategic portfolio manager hires in 2024, enhancing the fund's research capabilities amid market volatility; additionally, William Blair participated in a significant funding round for a portfolio company in the biotech sector in early 2025, underscoring its active role in supporting small-cap growth initiatives.