N-Q 1 d775558dnq.htm AIC MCKEE AIC McKee

 

 

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)

 

 

One Freedom Valley Drive

Oaks, PA 19456

(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, 2019

Date of reporting period: July 31, 2019

 

 

 

Item 1.

Schedule of Investments

The registrant’s schedules as of the close of the reporting period, as set forth in §§ 210.12-12 through 210.12-14 of Regulation S-X [17 CFR §§ 210-12.12-12.14], are attached hereto.

THE ADVISORS’ INNER CIRCLE FUND

    McKEE INTERNATIONAL
   EQUITY PORTFOLIO
   JULY 31, 2019
   (Unaudited)

 

 

 

 

 

  SCHEDULE OF INVESTMENTS

      

  COMMON STOCK — 94.0%

 

      
             Shares              Value

  AUSTRALIA — 9.3%

      

Australia & New Zealand Banking Group

      155,000      $ 2,977,593    

CSL

      30,000        4,729,753  

Newcrest Mining

      195,000        4,752,827  
     

 

 

 

                12,460,173  
     

 

 

 

  FRANCE — 11.9%

      

Airbus

      22,500        3,198,740  

AXA

      158,000        4,013,320  

BNP Paribas

      32,000        1,499,037  

Capgemini

      29,500        3,767,954  

Faurecia

      37,000        1,761,830  

TechnipFMC

      64,000        1,771,701  
     

 

 

 

        16,012,582  
     

 

 

 

  GERMANY — 4.2%

      

Allianz

      18,000        4,203,435  

Bayerische Motoren Werke

      20,000        1,483,316  
     

 

 

 

        5,686,751  
     

 

 

 

  HONG KONG — 3.2%

      

China Eastern Airlines, Cl H

      1,600,000        888,586  

New World Development

      2,400,000        3,391,259  
     

 

 

 

        4,279,845  
     

 

 

 

  ISRAEL — 1.0%

      

Teva Pharmaceutical Industries ADR *

      164,000        1,300,520  
     

 

 

 

  ITALY — 4.1%

      

Intesa Sanpaolo

      990,000        2,156,530  

Tenaris

      270,000        3,407,811  
     

 

 

 

        5,564,341  
     

 

 

 

  JAPAN — 24.1%

      

Astellas Pharma

      360,000        5,120,447  

Daiwa House Industry

      90,000        2,566,604  

Denso

      86,000        3,651,644  

KDDI

      190,000        4,974,086  

Komatsu

      144,000        3,222,777  

Kubota

      225,000        3,484,525  

Kuraray

      150,000        1,781,968  

Mitsubishi UFJ Financial Group

      600,000        2,890,670  

Sankyu

      53,000        2,843,790  

Seven & I Holdings

      55,000        1,882,047  
     

 

 

 

        32,418,558  
     

 

 

 

 

1

THE ADVISORS’ INNER CIRCLE FUND

    McKEE INTERNATIONAL
   EQUITY PORTFOLIO
   JULY 31, 2019
   (Unaudited)

 

 

 

 

 

  COMMON STOCK — continued

 

      
             Shares              Value  

  NORWAY — 1.7%

      

Equinor ADR

      130,000      $ 2,315,300    
     

 

 

  

  SINGAPORE — 2.8%

      

DBS Group Holdings

      200,000              3,829,949    
     

 

 

  

  SPAIN — 4.9%

      

Banco Santander

      440,000        1,887,669    

Industria de Diseno Textil

      82,500        2,477,021    

Red Electrica

      120,000        2,281,989    
     

 

 

  
        6,646,679    
     

 

 

  

  SWEDEN — 2.9%

      

Nordea Bank Abp

      130,000        840,086    

Volvo, Cl B

      200,000        2,994,790    
     

 

 

  
        3,834,876    
     

 

 

  

  SWITZERLAND — 7.6%

      

ABB

      126,000        2,381,497    

Alcon *

      4,600        268,575    

LafargeHolcim

      45,000        2,206,566    

Novartis

      23,000        2,118,314    

Zurich Insurance Group

      9,500        3,311,597    
     

 

 

  
        10,286,549    
     

 

 

  

  TAIWAN — 4.3%

      

Hon Hai Precision Industry

      600,000        1,512,262    

Taiwan Semiconductor Manufacturing ADR

      100,000        4,263,000    
     

 

 

  
        5,775,262    
     

 

 

  

  UNITED KINGDOM — 12.0%

      

Diageo

      115,000        4,845,128    

Glencore

      1,400,000        4,527,572    

Royal Dutch Shell, Cl B

      110,000        3,494,813    

Standard Chartered

      250,000        2,065,624    

WPP

      100,000        1,186,674    
     

 

 

  
        16,119,811    
     

 

 

  

TOTAL COMMON STOCK
(Cost $85,408,997)

         126,531,196    
     

 

 

  

TOTAL INVESTMENTS — 94.0%
(Cost $85,408,997)

       $      126,531,196    
     

 

 

  

 

  

Percentages are based on Net Assets of $134,569,448.

*

Non-income producing security.

 

2

THE ADVISORS’ INNER CIRCLE FUND

    McKEE INTERNATIONAL
   EQUITY PORTFOLIO
   JULY 31, 2019
   (Unaudited)

 

 

 

ADR — American Depositary Receipt

Cl — Class

The following is a list of inputs used as of July 31, 2019 in valuing the Fund’s investments and other financial instruments carried at market value:

 

Investments in Securities      Level 1        Level 2        Level 3        Total  

Common Stock

                    

Australia

      $ —        $ 12,460,173        $                     —        $ 12,460,173  

France

        —                  16,012,582          —                  16,012,582  

Germany

        —          5,686,751          —          5,686,751  

Hong Kong

        —          4,279,845          —          4,279,845  

Israel

                1,300,520          —          —          1,300,520  

Italy

        —          5,564,341          —          5,564,341  

Japan

        —          32,418,558          —          32,418,558  

Norway

        2,315,300          —          —          2,315,300  

Singapore

        —          3,829,949          —          3,829,949  

Spain

        —          6,646,679          —          6,646,679  

Sweden

        —          3,834,876          —          3,834,876  

Switzerland

        —          10,286,549          —          10,286,549  

Taiwan

        4,263,000          1,512,262          —          5,775,262  

United Kingdom

        —          16,119,811          —          16,119,811  
    

 

 

       

 

 

       

 

 

       

 

 

  

Total Common Stock

        7,878,820          118,652,376          —          126,531,196  
    

 

 

       

 

 

       

 

 

       

 

 

  

Total Investments in Securities

      $ 7,878,820        $ 118,652,376        $ —        $ 126,531,196  
    

 

 

       

 

 

       

 

 

       

 

 

  

There were no transfers between Level 1 and Level 3 assets and liabilities during the period.

There were no transfers between Level 2 and Level 3 assets and liabilities during the period.

There were transfers between Level 1 and Level 2 during the period. The primary reason for changes in the classifications between Levels 1 and 2 occurs when foreign equity securities are fair valued using other observable market based inputs in place of the closing exchange price due to half or events occurring after the close of the exchange or market on which the investment is principally traded.

For Information regarding the Fund’s policy regarding valuation of investments and other significant accounting policies, please refer to the Fund’s most recent semi-annual and annual financials statements.

CSM-QH-001-3200

 

3

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) Separate certifications 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 26, 2019

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 26, 2019

 

By (Signature and Title)      

/s/ Stephen Connors

      Stephen Connors
      Treasurer, Controller, and CFO

Date: September 26, 2019