William Blair Small Cap Value Fund

Dave Mitchell, CFA, partner, is a portfolio manager for William Blair’s Small and Small-Mid Cap Value strategies. He joined William Blair in his current role in 1996. Previously, he was a partner in the U.S. equity group at Brinson Partners and a member of its post-venture portfolio management team. Before that, he was co-manager of Thomas Paine Investors, a private fund that invested in small-cap stocks, and a senior equity analyst on NBD’s Woodward Opportunity Fund. Before that, he was an equity analyst and portfolio manager at Connecticut National Bank. Before pursing graduate studies, Dave was also an equity trader and money market portfolio manager. Dave has served for more than a decade as a director at Reading In Motion (formerly Whirlwind), which partners with teachers to improve urban children’s language and learning skills through the arts. He is also a general trustee of Knox College. Dave is a member of the CFA Institute and the CFA Society Chicago. He received a B.A. from Knox College and an M.B.A. from Northwestern University’s Kellogg Graduate School of Management.

Mark Leslie, CFA, partner, is a portfolio manager for William Blair’s Small and Small-Mid Cap Value strategies. He joined the firm in his current role in 2005. Previously, he was lead portfolio manager of the First American Small Cap Value Fund and co-portfolio manager of the First American Mid Cap Value Fund at U.S. Bancorp Asset Management for eight years. Before becoming a portfolio manager, Mark was an equity analyst at U.S. Bancorp. Before that, he was a sell-side analyst with Dain Bosworth for five years. Mark is a member of the CFA Institute and the CFA Society Chicago. He received a B.S. in business and economics, cum laude, from the University of New Hampshire.

Stephen Livingston, CFA, a Partner of William Blair Investment Management, LLC, has co-managed the Small-Mid Cap Value Fund and the Small Cap Value Fund since 2021. Previously, he was an associate portfolio manager on William Blair’s Small and Small-Mid Cap Value strategies. Before joining the team as a research analyst in 2009, he spent two years as a research associate on the domestic growth equity research team, covering the financials and industrials sectors. Before that, he was a research associate in William Blair’s sell-side research group, covering the technology sector. Before joining William Blair in 2006, Stephen worked at both FTN Midwest and UBS. Stephen is a member of the CFA Institute and the CFA Society Chicago. He received a B.S.B.A. in finance from The Ohio State University and an M.B.A. from the University of Chicago’s Booth School of Business.