N-Q 1 d246745dnq.htm AIC ALPHAONE MICRO CAP EQUITY FUND AIC ALPHAONE MICRO CAP EQUITY FUND

 

 

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

 

 

FORM N-Q

 

 

QUARTERLY SCHEDULE OF PORTFOLIO HOLDINGS OF REGISTERED

MANAGEMENT INVESTMENT COMPANY

Investment Company Act file number 811-06400

 

 

The Advisors’ Inner Circle Fund

(Exact name of registrant as specified in charter)

 

 

c/o CT Corporation

101 Federal Street

Boston, MA 02110

(Address of principal executive offices) (Zip code)

 

 

SEI Investments

One Freedom Valley Drive

Oaks, PA 19456

(Name and address of agent for service)

 

 

Registrant’s telephone number, including area code: 1-877-446-3863

Date of fiscal year end: October 31, 2016

Date of reporting period: July 31, 2016

 

 

 

Item 1. Schedule of Investments

THE ADVISORS’ INNER CIRCLE FUND    ALPHAONE MICRO CAP EQUITY FUND
     JULY 31, 2016 (Unaudited)
      

 

 

 

SCHEDULE OF INVESTMENTS   
COMMON STOCK — 95.0%‡   
    Shares        Value  
CONSUMER DISCRETIONARY — 9.4%   

Entravision Communications, Cl A

     301,223         $ 2,186,879   

Ethan Allen Interiors (A)

     83,921           2,914,576   

Hibbett Sports* (A)

     37,419           1,306,672   

Kirkland’s*

     166,701           2,540,523   

Movado Group

     67,834           1,532,370   

Red Robin Gourmet Burgers*

     32,808           1,586,595   
      

 

 

  
         12,067,615   
      

 

 

  
ENERGY — 4.4%   

Natural Gas Services Group*

     85,819           2,154,915   

Panhandle Oil and Gas, Cl A

     105,667           1,728,712   

RPC (A)

     116,456           1,687,448   
      

 

 

  
         5,571,075   
      

 

 

  
FINANCIAL SERVICES — 27.5%   

Banner

     50,603           2,112,169   

Bryn Mawr Bank

     64,470           1,890,905   

Cascade Bancorp*

     89,217           503,184   

Columbia Banking System

     58,600           1,776,752   

CU Bancorp*

     61,627           1,464,258   

Enterprise Financial Services

     92,364           2,656,389   

Financial Institutions

     78,078           2,100,298   

Flushing Financial

     65,095           1,452,270   

Heritage Financial

     129,231           2,256,373   

National Commerce* (A)

     66,821           1,624,418   

OceanFirst Financial

     88,756           1,673,938   

Pacific Continental

     137,008           1,983,876   

PacWest Bancorp

     49,383           2,041,987   

Park Sterling

     258,933           1,998,963   

Pinnacle Financial Partners

     23,997           1,274,481   

Renasant*

     76,277           2,457,645   

Sterling Bancorp (A)

     99,565           1,681,653   

Sun Bancorp (A)

     72,995           1,557,713   

WSFS Financial

     72,343           2,545,750   
      

 

 

  
         35,053,022   
      

 

 

  
HEALTH CARE — 15.4%   

AMAG Pharmaceuticals* (A)

     32,845           871,378   

Cambrex*

     38,954           2,041,579   

Cardiome Pharma*

     370,703           1,160,300   

Cross Country Healthcare*

     158,065           2,310,910   

HealthStream*

     77,790           1,884,852   

Invacare (A)

     171,206           1,972,293   

Natus Medical*

     59,761           2,350,400   

Supernus Pharmaceuticals*

     130,052           2,889,756   

US Physical Therapy

     28,085           1,674,428   

Vascular Solutions*

     53,208           2,440,651   
      

 

 

  
         19,596,547   
      

 

 

  
    Shares        Value  
INDUSTRIALS — 27.7%   

Altra Industrial Motion

     52,601         $ 1,493,868   

AZZ

     42,089           2,612,885   

CECO Environmental

     140,205           1,296,896   

CRA International*

     95,229           2,630,225   

Exponent

     33,181           1,685,927   

Federal Signal

     158,045           2,078,292   

GP Strategies*

     89,053           1,866,551   

Hurco

     66,133           1,761,122   

Insteel Industries

     75,211           2,616,591   

Kadant

     30,465           1,673,747   

Knight Transportation (A)

     59,244           1,767,248   

Lydall*

     63,532           2,838,610   

Marten Transport (A)

     86,740           1,877,921   

Multi-Color (A)

     34,258           2,212,382   

NN (A)

     97,020           1,636,727   

Old Dominion Freight Line*

     21,795           1,518,240   

On Assignment*

     55,256           2,041,709   

SP Plus*

     72,479           1,741,670   
      

 

 

  
         35,350,611   
      

 

 

  
INFORMATION TECHNOLOGY — 10.6%   

CalAmp* (A)

     168,751           2,396,264   

GTT Communications* (A)

     142,067           2,916,636   

Impinj*

     8,479           156,098   

Inphi*

     77,732           2,734,612   

NeoPhotonics*

     197,827           2,482,729   

Novanta*

     152,678           2,398,571   

Virtusa*

     16,231           441,483   
      

 

 

  
         13,526,393   
      

 

 

  

TOTAL COMMON STOCK
(Cost $106,637,834)

   

        121,165,263   
      

 

 

  
SHORT-TERM INVESTMENTS — 19.0%   

BlackRock Liquidity Funds T-Fund Institutional, 0.401% (B) (C)

     17,369,372           17,369,372   

BlackRock Liquidity Funds T-Fund Portfolio, 0.190% (B)

     6,864,220           6,864,220   
      

 

 

  

TOTAL SHORT-TERM INVESTMENTS
(Cost $24,233,592)

    

        24,233,592   
      

 

 

  

TOTAL INVESTMENTS — 114.0%
(Cost $130,871,426)†

   

      $ 145,398,855   
      

 

 

  

 

    Percentages are based on Net Assets of $127,570,976.
*     Non-income producing security.
‡     More narrow industries are utilized for compliance purposes, whereas broad sectors are utilized for reporting purposes.
Cl   –   Class
 

 

1

THE ADVISORS’ INNER CIRCLE FUND    ALPHAONE MICRO CAP EQUITY FUND
     JULY 31, 2016 (Unaudited)
      

 

 

 

(A)     This security or a partial position of this security is on loan at July 31, 2016. The total value of securities on loan at July 31, 2016 was $16,704,242.
(B)     The rate reported is the 7-day effective yield as of July 31, 2016.
(C)     This security was purchased with cash collateral held from securities on loan.
†     At July 31, 2016, the tax basis cost of the Fund’s investments was $130,871,426, and the unrealized appreciation and depreciation were $20,773,023 and $(6,245,594) respectively.

As of July 31, 2016, all of the Fund’s investments were considered Level 1, in accordance with the authoritative guidance on fair value measurements and disclosure under U.S. GAAP.

For the period ended July 31, 2016, there were no transfers between Level 1 and Level 2 assets and liabilities. During the period ended July 31, 2016, there were no Level 3 securities.

For information on the Fund’s policy regarding valuation of investments, fair value hierarchy levels, and other significant accounting policies, please refer to Note 2 of the Fund’s most recent annual or semi-annual financial statements.

ACP-QH-001-1100

 

 

2

Item 2. Controls and Procedures

(a) The registrant’s principal executive and principal financial officers, or persons performing similar functions, have concluded that the Registrant’s disclosure controls and procedures (as defined in Rule 30a-3(c) under the Investment Company Act of 1940 (the “1940 Act”)) are effective, based on the evaluation of these controls and procedures required by Rule 30a-3(b) under the 1940 Act and Rules 13a-15(b) or 15d-15(b) under the Securities Exchange Act of 1934 as of a date within 90 days of the filing date of this report.

(b) There were no significant changes in the registrant’s internal control over financial reporting (as defined in Rule 30a-3(d) under the 1940 Act) that occurred during the registrant’s last fiscal quarter that have materially affected, or are reasonably likely to materially affect, the registrant’s internal control over financial reporting.

 

Item 3. Exhibits.

(a) A separate certification for the principal executive officer and the principal financial officer of the registrant as required by Rule 30a-2(a) under the Investment Company Act of 1940, as amended (17 CFR 270.30a-2(a)), are filed herewith.

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

 

(Registrant)       The Advisors’ Inner Circle Fund
By (Signature and Title)      

/s/ Michael Beattie

      Michael Beattie
      President

Date: September 29, 2016

Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, this report has been signed below by the following persons on behalf of the registrant and in the capacities and on the dates indicated.

 

By (Signature and Title)      

/s/ Michael Beattie

      Michael Beattie
      President

Date: September 29, 2016

 

By (Signature and Title)      

/s/ Stephen Connors

      Stephen Connors
      Treasurer, Controller & CFO

Date: September 29, 2016