NPORT-EX 2 CIBC.htm SCHEDULE F FOR VALIDATION PURPOSES ONLY - [917131.TX]
THE ADVISORS’ INNER CIRCLE FUND   

CIBC ATLAS DISCIPLINED EQUITY

FUND

JULY 31, 2020 (Unaudited)

 

 

 

SCHEDULE OF INVESTMENTS

 

              
COMMON STOCK — 97.0% **            Shares                      Value          

COMMUNICATION SERVICES — 8.4%

      

Alphabet, Cl A *

      10,572      $ 15,730,607  

Alphabet, Cl C *

      25,288        37,501,093  

Comcast, Cl A

      451,821        19,337,939  

T-Mobile US *

      241,315        25,912,405  

Walt Disney *

      95,764        11,198,642  
     

 

 

  
        109,680,686  
     

 

 

  

CONSUMER DISCRETIONARY — 13.1%

      

Amazon.com *

      30,671        97,063,900  

Dollar General

      108,797        20,714,949  

Home Depot

      97,829        25,972,621  

TJX *

      357,434        18,582,994  

VF

      163,596        9,874,655  
     

 

 

  
        172,209,119  
     

 

 

  

CONSUMER STAPLES — 3.0%

      

Mondelez International, Cl A

      327,410        18,167,981  

PepsiCo

      151,816        20,898,990  
     

 

 

  
        39,066,971  
     

 

 

  

ENERGY — 1.5%

      

Chevron

      121,170        10,171,010  

Pioneer Natural Resources

      93,185        9,031,490  
     

 

 

  
        19,202,500  
     

 

 

  

FINANCIALS — 9.7%

      

BlackRock, Cl A

      39,429        22,672,069  

Blackstone Group, Cl A

      312,012        16,623,999  

Charles Schwab

      597,552        19,808,849  

Citigroup

      155,479        7,775,505  

Intercontinental Exchange

      218,959        21,190,852  

JPMorgan Chase

      239,103        23,106,914  

US Bancorp

      441,949        16,281,401  
     

 

 

  
        127,459,589  
     

 

 

  

HEALTH CARE — 16.3%

      

Abbott Laboratories

      186,174        18,736,551  

Cigna

      76,260        13,169,339  

Danaher

      183,660        37,429,908  

Johnson & Johnson

      211,224        30,788,010  

Medtronic

      186,251        17,969,497  

Stryker

      84,111        16,258,656  

 

1

THE ADVISORS’ INNER CIRCLE FUND   

CIBC ATLAS DISCIPLINED EQUITY

FUND

JULY 31, 2020 (Unaudited)

 

 

 

COMMON STOCK (continued)            Shares                      Value          

HEALTH CARE (continued)

      

Thermo Fisher Scientific

      66,329      $ 27,456,889  

UnitedHealth Group

      119,001        36,031,123  

Zoetis, Cl A

      103,652        15,721,936  
     

 

 

  
        213,561,909  
     

 

 

  

INDUSTRIALS — 8.7%

      

Honeywell International

      165,385        24,703,558  

Otis Worldwide

      203,970        12,797,078  

Raytheon Technologies

      308,229        17,470,420  

Roper Technologies

      33,705        14,575,727  

Union Pacific

      137,010        23,750,683  

Waste Management

      183,903        20,155,769  
     

 

 

  
        113,453,235  
     

 

 

  

INFORMATION TECHNOLOGY — 29.2%

      

Adobe *

      54,867        24,378,506  

Analog Devices

      141,659        16,269,536  

Apple

      130,949        55,658,563  

Automatic Data Processing

      120,880        16,066,161  

Cisco Systems

      635,520        29,932,992  

Fidelity National Information Services

      202,578        29,639,187  

Fiserv *

      227,067        22,659,016  

Microsoft

      397,307        81,451,908  

Oracle

      158,218        8,773,188  

QUALCOMM

      271,097        28,630,554  

salesforce.com *

      81,300        15,841,305  

Texas Instruments

      100,003        12,755,383  

Visa, Cl A

      208,149        39,631,569  
     

 

 

  
        381,687,868  
     

 

 

  

MATERIALS — 3.2%

      

Ecolab

      99,974        18,703,136  

Linde

      94,872        23,254,076  
     

 

 

  
        41,957,212  
     

 

 

  

REAL ESTATE — 1.2%

      

American Tower, Cl A ‡

      58,813        15,373,130  
     

 

 

  

UTILITIES — 2.7%

      

American Water Works

      102,473        15,091,199  

 

2

THE ADVISORS’ INNER CIRCLE FUND   

CIBC ATLAS DISCIPLINED EQUITY

FUND

JULY 31, 2020 (Unaudited)

 

 

 

COMMON STOCK (continued)            Shares                        Value            

UTILITIES (continued)

      

NextEra Energy

      71,821      $ 20,160,154  
     

 

 

  
        35,251,353  
     

 

 

  

TOTAL COMMON STOCK
(Cost $675,023,212)

         1,268,903,572  
     

 

 

  
     

CASH EQUIVALENT — 2.9%(A)

      

JPMorgan U.S. Government Money Market Fund, Cl Institutional, 0.030%
(Cost $38,619,046)

      38,619,046        38,619,046  
     

 

 

  

TOTAL INVESTMENTS —99.9%
(Cost $713,642,258)

       $ 1,307,522,618  
     

 

 

  

Percentages are based on Net Assets of $1,308,617,999.

*

Non-income producing security.

**

More narrow industries are utilized for compliance purposes, whereas broad sectors are utilized for reporting periods.

‡

Real Estate Investment Trust

(A)

The rate reported is the 7-day effective yield as of July 31, 2020.

Cl — Class

As of July 31, 2020, 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. generally accepted accounting principles.

For the period ended July 31, 2020, there were no transfers in or out of Level 3.

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 financial statements.

ATF-QH-001-1400

 

3

THE ADVISORS’ INNER CIRCLE FUND   

CIBC ATLAS MID CAP EQUITY FUND

JULY 31, 2020 (Unaudited)

 

 

 

SCHEDULE OF INVESTMENTS

 

              
COMMON STOCK — 97.6%**            Shares                        Value            

COMMUNICATION SERVICES — 0.6%

      

Liberty Broadband, Cl C *

      31,094      $ 4,268,273  
     

 

 

  

CONSUMER DISCRETIONARY — 11.8%

      

Aptiv *

      82,361        6,403,568  

AutoZone *

      14,600        17,628,332  

Bright Horizons Family Solutions *

      39,453        4,230,940  

Carter’s *

      64,752        5,097,277  

Dollar Tree *

      115,239        10,757,561  

Domino’s Pizza

      21,064        8,143,553  

Five Below *

      34,661        3,774,929  

Marriott International, Cl A *

      66,201        5,549,299  

O’Reilly Automotive *

      20,841        9,949,077  

Ross Stores *

      77,235        6,925,662  

Tractor Supply

      58,623        8,367,847  
     

 

 

  
        86,828,045  
     

 

 

  

CONSUMER STAPLES — 3.9%

      

Brown-Forman, Cl B

      63,972        4,435,818  

Church & Dwight

      101,865        9,812,656  

Monster Beverage *

      112,118        8,799,021  

Sprouts Farmers Market *

      228,806        6,035,902  
     

 

 

  
        29,083,397  
     

 

 

  

FINANCIALS — 4.3%

      

Ameriprise Financial

      67,873        10,427,329  

Intercontinental Exchange

      104,205        10,084,960  

MSCI, Cl A

      29,869        11,230,147  
     

 

 

  
        31,742,436  
     

 

 

  

HEALTH CARE — 19.2%

      

Alexion Pharmaceuticals *

      75,340        7,721,596  

Avantor *

      289,658        6,395,649  

Centene *

      182,220        11,889,855  

Charles River Laboratories International *

      39,565        7,873,039  

Cooper

      19,392        5,486,579  

Edwards Lifesciences *

      164,500        12,898,445  

Encompass Health

      161,602        11,001,864  

Exact Sciences *

      105,320        9,979,070  

Global Blood Therapeutics *

      87,154        5,881,152  

HCA Healthcare *

      57,062        7,226,332  

Humana

      24,519        9,622,482  

 

4

THE ADVISORS’ INNER CIRCLE FUND   

CIBC ATLAS MID CAP EQUITY FUND

JULY 31, 2020 (Unaudited)

 

 

 

COMMON STOCK (continued)            Shares                        Value            

HEALTH CARE (continued)

      

Jazz Pharmaceuticals *

      39,788      $ 4,307,051  

Livongo Health *

      52,158        6,637,105  

PRA Health Sciences *

      76,789        8,182,636  

ResMed

      61,186        12,390,777  

Teleflex

      27,194        10,146,081  

Universal Health Services, Cl B *

      36,667        4,029,703  
     

 

 

  
        141,669,416  
     

 

 

  

INDUSTRIALS — 14.8%

      

AMETEK

      66,647        6,214,833  

Cintas

      20,284        6,123,131  

CoStar Group *

      9,696        8,239,273  

HD Supply Holdings *

      158,147        5,550,960  

Hubbell, Cl B

      39,565        5,340,088  

IAA *

      135,746        5,884,589  

IDEX

      44,023        7,255,871  

IHS Markit

      128,501        10,373,886  

Kansas City Southern

      52,493        9,020,922  

L3Harris Technologies

      32,655        5,496,816  

Masco

      136,637        7,810,171  

Pentair

      67,761        2,903,559  

Rexnord

      131,176        3,800,168  

Roper Technologies

      34,104        14,748,275  

TransUnion

      113,790        10,192,170  
     

 

 

  
        108,954,712  
     

 

 

  

INFORMATION TECHNOLOGY — 35.7%

      

Amphenol, Cl A

      110,670        11,704,459  

ANSYS *

      46,697        14,504,088  

Autodesk *

      79,687        18,840,397  

Cadence Design Systems *

      122,818        13,417,867  

CDW

      60,183        6,996,274  

Citrix Systems

      35,998        5,139,074  

Dynatrace *

      171,187        7,160,752  

Entegris

      83,141        5,978,669  

EPAM Systems *

      101,196        29,354,936  

Everbridge *

      35,998        5,140,514  

FleetCor Technologies *

      32,766        8,472,304  

Genpact

      325,990        12,980,922  

Global Payments

      119,586        21,288,700  

Keysight Technologies *

      103,760        10,364,586  

KLA

      23,182        4,632,459  

Lam Research

      37,893        14,291,724  

 

5

THE ADVISORS’ INNER CIRCLE FUND   

CIBC ATLAS MID CAP EQUITY FUND

JULY 31, 2020 (Unaudited)

 

 

 

COMMON STOCK (continued)            Shares                        Value            

INFORMATION TECHNOLOGY (continued)

      

Marvell Technology Group

      232,261      $ 8,470,559  

Microchip Technology

      132,848        13,514,627  

PTC *

      137,417        11,757,399  

Skyworks Solutions

      55,613        8,096,141  

Smartsheet, Cl A *

      124,155        5,927,160  

Splunk *

      26,971        5,659,055  

Synopsys *

      35,998        7,171,522  

Twilio, Cl A *

      18,055        5,008,818  

Xilinx

      67,650        7,262,227  
     

 

 

  
        263,135,233  
     

 

 

  

MATERIALS — 4.2%

      

Ashland Global Holdings

      53,050        4,004,214  

Berry Global Group *

      140,872        7,042,191  

Crown Holdings *

      119,920        8,583,874  

FMC

      90,609        9,609,085  

Livent *

      250,427        1,570,177  
     

 

 

  
        30,809,541  
     

 

 

  

REAL ESTATE — 3.1%

      

CyrusOne ‡

      56,728        4,732,250  

SBA Communications, Cl A ‡

      59,180        18,436,937  
     

 

 

  
        23,169,187  
     

 

 

  

TOTAL COMMON STOCK
(Cost $473,012,533)

         719,660,240  
     

 

 

  
     

CASH EQUIVALENT — 2.6%(A)

      

JPMorgan U.S. Government Money Market Fund, Cl Institutional, 0.030%
(Cost $19,367,144)

      19,367,144        19,367,144  
     

 

 

  

TOTAL INVESTMENTS — 100.2%
(Cost $492,379,677)

       $ 739,027,384  
     

 

 

  

Percentages are based on Net Assets of $737,750,518.

*

Non-income producing security.

**

More narrow industries are utilized for compliance purposes, whereas broad sectors are utilized for reporting periods.

‡

Real Estate Investment Trust

(A)

The rate reported is the 7-day effective yield as of July 31, 2020.

Cl — Class

 

6

THE ADVISORS’ INNER CIRCLE FUND   

CIBC ATLAS MID CAP EQUITY FUND

JULY 31, 2020 (Unaudited)

 

 

 

As of July 31, 2020, 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. generally accepted accounting principles.

For the period ended July 31, 2020, there were no transfers in or out of Level 3.

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 financial statements.

ATF-QH-002-1300

 

7

THE ADVISORS’ INNER CIRCLE FUND   

CIBC ATLAS INCOME

OPPORTUNITIES FUND

JULY 31, 2020 (Unaudited)

 

 

 

SCHEDULE OF INVESTMENTS

 

            
COMMON STOCK — 62.3%          Shares                    Value        

COMMUNICATION SERVICES — 3.8%

      

Alphabet, Cl A *(A)

      6,236      $ 9,278,856  

Comcast, Cl A

      120,235        5,146,058  

Verizon Communications

      77,836        4,474,014  
     

 

 

 

        18,898,928  
     

 

 

 

CONSUMER DISCRETIONARY — 7.4%

      

Amazon.com *(A)

      4,448        14,076,497  

Home Depot

      38,770        10,293,047  

Service International

      43,228        1,874,366  

Vail Resorts *

      23,315        4,477,179  

VF

      108,419        6,544,171  
     

 

 

 

        37,265,260  
     

 

 

 

CONSUMER STAPLES — 2.3%

      

Kellogg

      40,997        2,828,383  

PepsiCo

      62,156        8,556,395  
     

 

 

 

        11,384,778  
     

 

 

 

ENERGY — 2.0%

      

Chevron

      76,898        6,454,818  

Pioneer Natural Resources

      38,600        3,741,112  
     

 

 

 

        10,195,930  
     

 

 

 

FINANCIALS — 7.9%

      

Ares Capital

      467,572        6,592,765  

CME Group, Cl A

      19,984        3,320,941  

Hannon Armstrong Sustainable Infrastructure Capital ‡

      197,163        6,906,620  

JPMorgan Chase

      116,416        11,250,442  

Prudential Financial

      77,938        4,938,931  

US Bancorp

      184,982        6,814,737  
     

 

 

 

        39,824,436  
     

 

 

 

HEALTH CARE — 6.6%

      

Johnson & Johnson

      69,285        10,098,982  

Merck

      54,770        4,394,745  

Novartis ADR

      67,188        5,518,822  

Pfizer

      152,093        5,852,539  

UnitedHealth Group

      23,853        7,222,211  
     

 

 

 

        33,087,299  
     

 

 

 

INDUSTRIALS — 6.8%

      

IDEX

      33,000        5,439,060  

 

8

THE ADVISORS’ INNER CIRCLE FUND   

CIBC ATLAS INCOME

OPPORTUNITIES FUND

JULY 31, 2020 (Unaudited)

 

 

 

COMMON STOCK (continued)          Shares                    Value        

INDUSTRIALS (continued)

      

Lockheed Martin

      26,124      $ 9,900,212  

Republic Services, Cl A

      28,000        2,443,000  

Triton International

      77,503        2,439,020  

Union Pacific

      45,372        7,865,236  

United Parcel Service, Cl B

      41,892        5,980,502  
     

 

 

 

        34,067,030  
     

 

 

 

INFORMATION TECHNOLOGY — 17.9%

      

Apple

      43,760        18,599,751  

Automatic Data Processing

      59,597        7,921,037  

Broadcom

      25,964        8,224,097  

Cisco Systems

      164,724        7,758,500  

Microchip Technology

      88,093        8,961,701  

Microsoft

      119,583        24,515,711  

QUALCOMM

      90,115        9,517,045  

Visa, Cl A

      23,087        4,395,765  
     

 

 

 

        89,893,607  
     

 

 

 

MATERIALS — 2.3%

      

Linde

      46,286        11,345,161  
     

 

 

 

REAL ESTATE — 2.5%

      

Crown Castle International ‡

      19,728        3,288,658  

MGM Growth Properties, Cl A ‡

      182,642        4,993,432  

Weyerhaeuser * ‡

      156,084        4,340,696  
     

 

 

 

        12,622,786  
     

 

 

 

UTILITIES — 2.8%

      

American Water Works

      28,776        4,237,842  

NextEra Energy

      22,115        6,207,680  

Xcel Energy

      52,675        3,636,682  
     

 

 

 

        14,082,204  
     

 

 

 

TOTAL COMMON STOCK
(Cost $233,498,333)

         312,667,419  
     

 

 

 

     
CORPORATE OBLIGATIONS — 23.7%    Face Amount       

COMMUNICATION SERVICES — 4.7%

      

AT&T

      

3.600%, 07/15/25

    $ 3,500,000        3,940,189  

Comcast

      

4.700%, 10/15/48

      4,500,000        6,449,562  

 

9

THE ADVISORS’ INNER CIRCLE FUND   

CIBC ATLAS INCOME

OPPORTUNITIES FUND

JULY 31, 2020 (Unaudited)

 

 

 

CORPORATE OBLIGATIONS (continued)     Face Amount               Value        

COMMUNICATION SERVICES (continued)

      

Diamond Sports Group

      

5.375%, 08/15/26(B)

    $ 4,500,000      $ 3,465,315  

Discovery Communications

      

3.800%, 03/13/24

      3,150,000        3,452,054  

Level 3 Financing

      

5.250%, 03/15/26

      2,000,000        2,088,940  

Sprint Spectrum

      

3.360%, 09/20/21(B)

      1,562,500        1,582,031  

Verizon Communications

      

3.500%, 11/01/24

      2,250,000        2,507,942  
     

 

 

 

        23,486,033  
     

 

 

 

CONSUMER DISCRETIONARY — 2.1%

      

Amazon.com

      

3.150%, 08/22/27

      3,300,000        3,815,375  

Ford Motor Credit

      

3.336%, 03/18/21

      3,855,000        3,864,637  

Goodyear Tire & Rubber

      

5.125%, 11/15/23

      1,200,000        1,197,000  

Newell Brands

      

4.350%, 04/01/23

      1,000,000        1,062,490  

Tenneco

      

5.375%, 12/15/24

      630,000        419,082  
     

 

 

 

        10,358,584  
     

 

 

 

ENERGY — 3.3%

      

Cheniere Energy Partners

      

4.500%, 10/01/29

      5,000,000        5,289,000  

DCP Midstream Operating

      

6.750%, 09/15/37(B)

      1,500,000        1,455,000  

GasLog

      

8.875%, 03/22/22

      2,550,000        2,409,750  

Genesis Energy

      

6.000%, 05/15/23

      1,700,000        1,598,000  

Kinder Morgan MTN

      

7.800%, 08/01/31

      1,400,000        1,944,174  

Sabine Pass Liquefaction

      

5.750%, 05/15/24

      1,250,000        1,424,126  

5.625%, 03/01/25

      2,000,000        2,321,060  
     

 

 

 

        16,441,110  
     

 

 

 

 

10

THE ADVISORS’ INNER CIRCLE FUND   

CIBC ATLAS INCOME

OPPORTUNITIES FUND

JULY 31, 2020 (Unaudited)

 

 

 

CORPORATE OBLIGATIONS (continued)     Face Amount               Value        

FINANCIALS — 6.3%

      

Ally Financial

      

4.125%, 02/13/22

    $ 4,250,000      $ 4,412,589  

Bank of America

      

5.200%, VAR ICE LIBOR USD 3 Month+3.135% (C)

      2,000,000        2,020,000  

3.950%, 04/21/25

      5,750,000        6,455,867  

Equinix Inc.

      

3.000%, 07/15/50

      1,500,000        1,625,460  

Goldman Sachs Group MTN

      

1.997%, VAR ICE LIBOR USD 3 Month+1.750%, 10/28/27

      3,000,000        3,094,990  

JPMorgan Chase

      

5.000%, VAR United States Secured Overnight Financing Rate+3.380% (C)

      2,000,000        2,013,389  

Morgan Stanley

      

1.452%, VAR ICE LIBOR USD 3 Month+1.180%, 01/20/22

      6,000,000        6,024,374  

PNC Financial Services Group

      

6.750%, VAR ICE LIBOR USD 3 Month+3.678% (C)

      2,500,000        2,543,750  

Wells Fargo MTN

      

4.100%, 06/03/26

      3,000,000        3,399,772  
     

 

 

 

        31,590,191  
     

 

 

 

HEALTH CARE — 1.5%

      

Fresenius US Finance II

      

4.500%, 01/15/23(B)

      2,000,000        2,112,496  

HCA

      

5.375%, 02/01/25

      3,050,000        3,438,875  

5.000%, 03/15/24

      1,250,000        1,410,398  

Universal Health Services

      

4.750%, 08/01/22(B)

      500,000        501,285  
     

 

 

 

        7,463,054  
     

 

 

 

INDUSTRIALS — 1.2%

      

Masco

      

4.450%, 04/01/25

      3,750,000        4,345,342  

Northrop Grumman

      

4.030%, 10/15/47

      1,500,000        1,937,439  
     

 

 

 

        6,282,781  
     

 

 

 

INFORMATION TECHNOLOGY — 3.4%

      

Apple

      

3.850%, 08/04/46

      3,000,000        3,906,611  

CommScope Technologies

      

6.000%, 06/15/25(B)

      2,000,000        2,043,400  

 

11

THE ADVISORS’ INNER CIRCLE FUND   

CIBC ATLAS INCOME

OPPORTUNITIES FUND

JULY 31, 2020 (Unaudited)

 

 

 

CORPORATE OBLIGATIONS (continued)     Face Amount               Value        

INFORMATION TECHNOLOGY (continued)

      

NXP BV

      

4.625%, 06/15/22(B)

    $ 1,500,000      $ 1,602,090  

4.625%, 06/01/23(B)

      1,295,000        1,426,005  

salesforce.com

      

3.700%, 04/11/28

      3,000,000        3,563,442  

Western Union

      

2.850%, 01/10/25

      4,500,000        4,736,786  
     

 

 

 

        17,278,334  
     

 

 

 

MATERIALS — 0.4%

      

NOVA Chemicals

      

5.000%, 05/01/25(B)

      2,000,000        1,952,500  
     

 

 

 

REAL ESTATE — 0.2%

      

Boston Properties

      

2.750%, 10/01/26

      1,000,000        1,087,757  
     

 

 

 

UTILITIES — 0.6%

      

AES

      

6.000%, 05/15/26

      3,000,000        3,172,500  
     

 

 

 

TOTAL CORPORATE OBLIGATIONS
(Cost $111,644,852)

         119,112,844  
     

 

 

 

     
U.S. TREASURY OBLIGATIONS — 7.6%            

U.S. Treasury Bonds

      

3.000%, 02/15/48

      8,000,000        11,441,875  

2.500%, 02/15/45

      6,000,000        7,721,016  
     

 

 

 

        19,162,891  
     

 

 

 

U.S. Treasury Inflation Protected Securities

      

0.500%, 01/15/28

      15,591,600        17,451,998  
     

 

 

 

U.S. Treasury Note

      

2.000%, 08/15/25

      1,500,000        1,632,363  
     

 

 

 

TOTAL U.S. TREASURY OBLIGATIONS
(Cost $30,732,854)

         38,247,252  
     

 

 

 

     
EXCHANGE TRADED FUNDS — 2.4%    Shares       

iShares National Muni Bond ETF

      53,290        6,227,469  

 

12

THE ADVISORS’ INNER CIRCLE FUND   

CIBC ATLAS INCOME

OPPORTUNITIES FUND

JULY 31, 2020 (Unaudited)

 

 

 

EXCHANGE TRADED FUNDS (continued)     Shares              Value        

Nuveen AMT-Free Quality Municipal Income Fund, Cl Institutional

      409,191     $ 5,949,637  
    

 

 

 

TOTAL EXCHANGE TRADED FUNDS
(Cost $10,933,458)

        12,177,106  
    

 

 

 

    

 

PREFERRED STOCK — 0.7%

           

 

FINANCIALS — 0.5%

     

Wells Fargo, 7.500% *

      1,700       2,297,550  
    

 

 

 

REAL ESTATE — 0.2%

     

Public Storage, 4.900% ‡

      50,000       1,290,500  
    

 

 

 

TOTAL PREFERRED STOCK
(Cost $3,142,538)

        3,588,050  
    

 

 

 

    

 

MUNICIPAL BOND — 0.6%

      Face Amount        

Metropolitan Transportation Authority, Ser B-1 5.000%, 05/15/22

      $3,000,000       3,122,190  
    

 

 

 

TOTAL MUNICIPAL BOND
(Cost $3,106,253)

        3,122,190  
    

 

 

 

    

 

CASH EQUIVALENT — 2.6%(A)(D)

    Shares      

JPMorgan U.S. Government Money Market Fund,
Cl Institutional, 0.030%
(Cost $12,782,350)

      12,782,350       12,782,350  
    

 

 

 

TOTAL INVESTMENTS — 99.9%
(Cost $405,840,638)

      $ 501,697,211  
    

 

 

 

    

 

WRITTEN EQUITY OPTIONS* — (0.0)%(E)

    Contracts      

TOTAL WRITTEN OPTIONS — (0.0)%
(Premiums Received $296,858)

      (44 )    $ (53,988 ) 
    

 

 

 

 

13

THE ADVISORS’ INNER CIRCLE FUND   

CIBC ATLAS INCOME

OPPORTUNITIES FUND

JULY 31, 2020 (Unaudited)

 

 

 

A list of the exchange traded option contracts held by the Fund at July 31, 2020, is as follows:

 

Description                                     

      Contracts       Notional
    Amount    		        Exercise  
Price		        Expiration  
Date		            Value      

WRITTEN OPTIONS — (0.0)%

              

Call Options

              

Amazon.com, Inc.*

      (44 )    $ (15,538,380)        $3,600        08/22/20        $ (53,988 ) 
    

 

 

           

 

 

 

Total Written Options

      $ (15,538,380)              $ (53,988 ) 
    

 

 

           

 

 

 

Percentages are based on Net Assets of $502,231,867.

*

Non-income producing security.

‡

Real Estate Investment Trust

(A)

Security, or portion thereof, has been pledged as collateral on written equity options.

(B)

Securities sold within terms of a private placement memorandum, exempt from registration under Section 144A of the Securities Act of 1933, as amended, and may be sold only to dealers in that program or other “accredited investors.” The total value of such securities as of July 31, 2020 was $16,140,122 which represents 3.2% of Net Assets.

(C)

Perpetual security with no stated maturity date.

(D)

The rate reported is the 7-day effective yield as of July 31, 2020.

(E)

Refer to table below for details on Options Contracts.

ADR — American Depositary Receipt

AMT — Alternative Minimum Tax

Cl — Class

ETF — Exchange-Traded Fund

ICE — Intercontinental Exchange

LIBOR— London Interbank Offered Rate

MTN — Medium Term Note

USD — U.S. Dollar

VAR — Variable Rate

 

14

THE ADVISORS’ INNER CIRCLE FUND   

CIBC ATLAS INCOME

OPPORTUNITIES FUND

JULY 31, 2020 (Unaudited)

 

 

 

The following is a list of the inputs used as of July 31, 2020 in valuing the Fund’s investments and other financial instruments carried at fair value:

 

Investments in Securities    Level 1     Level 2      Level 3      Total  

 

  

Common Stock

    $     312,667,419     $ —      $                 —      $     312,667,419  

Corporate Obligations

      —       119,112,844        —        119,112,844  

U.S. Treasury Obligations

      —       38,247,252        —        38,247,252  

Exchange Traded Funds

      12,177,106       —        —        12,177,106  

Preferred Stock

      3,588,050       —        —        3,588,050  

Municipal Bond

      —       3,122,190        —        3,122,190  

Cash Equivalent

      12,782,350       —        —        12,782,350  
  

 

 

  

Total Investments in Securities

    $ 341,214,925     $ 160,482,286      $ —      $ 501,697,211  
  

 

 

  
          

 

  
Other Financial Instruments       

 

  

Written Option

    $ (53,988 )    $ —      $ —      $ (53,988)  
  

 

 

  

Total Other Financial

           

Instruments

    $ (53,988 )    $ —      $ —      $ (53,988)  
  

 

 

  

For the period ended July 31, 2020, there were no transfers in or out of Level 3.

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 financial statements.

ATF-QH-003-1300

 

15

THE ADVISORS’ INNER CIRCLE FUND   

CIBC ATLAS ALL CAP GROWTH FUND

JULY 31, 2020 (Unaudited)

 

 

 

SCHEDULE OF INVESTMENTS

 

COMMON STOCK — 98.5%**

          Shares                  Value        

 

COMMUNICATION SERVICES — 3.6%

      

Netflix *

      2,994      $ 1,463,707  

Tencent Holdings ADR

      86,764        5,942,466  
     

 

 

  
        7,406,173  
     

 

 

  

CONSUMER DISCRETIONARY — 12.2%

      

Alibaba Group Holding ADR *

      13,900        3,489,178  

Amazon.com *

      5,111        16,174,680  

Chipotle Mexican Grill, Cl A *

      1,313        1,516,725  

Lululemon Athletica *

      12,702        4,135,644  
     

 

 

  
        25,316,227  
     

 

 

  

FINANCIALS — 7.4%

      

Brookfield Asset Management, Cl A

      72,043        2,329,150  

Intercontinental Exchange

      25,615        2,479,020  

S&P Global

      23,226        8,134,906  

Tradeweb Markets, Cl A

      44,739        2,419,038  
     

 

 

  
        15,362,114  
     

 

 

  

HEALTH CARE — 20.1%

      

BioMarin Pharmaceutical *

      12,995        1,556,931  

Danaher

      28,883        5,886,355  

Edwards Lifesciences *

      66,471        5,211,991  

IDEXX Laboratories *

      16,278        6,474,575  

Intuitive Surgical *

      7,478        5,125,720  

Thermo Fisher Scientific

      16,811        6,958,914  

UnitedHealth Group

      4,450        1,347,371  

Vertex Pharmaceuticals *

      14,485        3,939,920  

Zoetis, Cl A

      33,244        5,042,450  
     

 

 

  
        41,544,227  
     

 

 

  

INDUSTRIALS — 16.5%

      

Cintas

      17,368        5,242,878  

CoStar Group *

      11,111        9,441,683  

IHS Markit

      43,208        3,488,182  

Roper Technologies

      19,085        8,253,308  

TransUnion

      27,504        2,463,533  

Trex *

      25,430        3,543,162  

United Rentals *

      11,056        1,717,771  
     

 

 

  
        34,150,517  
     

 

 

  

INFORMATION TECHNOLOGY — 29.4%

      

Adobe *

      16,219        7,206,426  

 

16

THE ADVISORS’ INNER CIRCLE FUND   

CIBC ATLAS ALL CAP GROWTH FUND

JULY 31, 2020 (Unaudited)

 

 

 

 

COMMON STOCK (continued)

          Shares                  Value        

INFORMATION TECHNOLOGY (continued)

      

ANSYS *

      4,638      $ 1,440,563  

Apple

      14,705        6,250,213  

EPAM Systems *

      11,814        3,427,005  

Fidelity National Information Services

      10,199        1,492,216  

Gartner *

      16,485        2,054,690  

Intuit

      9,317        2,854,449  

Mastercard, Cl A

      28,022        8,645,628  

Microsoft

      24,436        5,009,624  

Monolithic Power Systems

      20,682        5,480,937  

NVIDIA

      11,227        4,766,872  

PayPal Holdings *

      30,167        5,914,844  

Twilio, Cl A *

      10,777        2,989,755  

Tyler Technologies *

      9,042        3,230,255  
     

 

 

  
        60,763,477  
     

 

 

  

MATERIALS — 6.8%

      

Ecolab

      22,551        4,218,841  

Martin Marietta Materials

      18,805        3,896,020  

Sherwin-Williams

      9,212        5,968,639  
     

 

 

  
        14,083,500  
     

 

 

  

REAL ESTATE — 2.5%

      

Equinix ‡

      1,850        1,453,138  

SBA Communications, Cl A ‡

      11,884        3,702,341  
     

 

 

  
        5,155,479  
     

 

 

  

TOTAL COMMON STOCK
(Cost $109,851,790)

         203,781,714  
     

 

 

  
     

CASH EQUIVALENT — 1.3%(A)

      

JPMorgan U.S. Government Money Market Fund, Cl Institutional, 0.030%
(Cost $2,577,863)

      2,577,863        2,577,863  
     

 

 

  

TOTAL INVESTMENTS — 99.8%
(Cost $112,429,653)

       $     206,359,577  
     

 

 

  

Percentages are based on Net Assets of $206,793,973.

*

Non-income producing security.

**

More narrow industries are utilized for compliance purposes, whereas broad sectors are utilized for reporting periods.

‡

Real Estate Investment Trust

(A)

The rate reported is the 7-day effective yield as of July 31, 2020.

 

17

THE ADVISORS’ INNER CIRCLE FUND   

CIBC ATLAS ALL CAP GROWTH FUND

JULY 31, 2020 (Unaudited)

 

 

 

ADR — American Depositary Receipt

Cl — Class

As of July 31, 2020, 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. generally accepted accounting principles.

For the period ended July 31, 2020, there were no transfers in or out of Level 3.

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 financial statements.

ATF-QH-005-0400

 

18

THE ADVISORS’ INNER CIRCLE FUND   

CIBC ATLAS EQUITY INCOME FUND

JULY 31, 2020 (Unaudited)

 

 

 

SCHEDULE OF INVESTMENTS

 

              
COMMON STOCK — 97.7%          Shares                    Value          

COMMUNICATION SERVICES — 1.9%

      

Comcast, Cl A

      60,023      $ 2,568,985  
     

 

 

  

CONSUMER DISCRETIONARY — 8.6%

      

Home Depot

      13,063        3,468,096  

McDonald’s

      6,592        1,280,694  

Starbucks

      25,244        1,931,923  

Target

      13,426        1,690,065  

TJX *

      66,558        3,460,350  
     

 

 

  
        11,831,128  
     

 

 

  

ENERGY — 4.4%

      

Enterprise Products Partners (A)

      173,660        3,056,416  

Magellan Midstream Partners (A)

      73,968        2,994,964  
     

 

 

  
        6,051,380  
     

 

 

  

FINANCIALS — 13.7%

      

Blackstone Group, Cl A

      126,018        6,714,239  

Brookfield Asset Management, Cl A

      101,512        3,281,883  

CME Group, Cl A

      26,861        4,463,761  

JPMorgan Chase

      45,485        4,395,671  
     

 

 

  
        18,855,554  
     

 

 

  

HEALTH CARE — 17.9%

      

Abbott Laboratories

      66,442        6,686,723  

AbbVie

      37,488        3,557,986  

Anthem

      11,189        3,063,548  

AstraZeneca ADR

      78,834        4,397,360  

Becton Dickinson

      11,386        3,203,337  

CVS Health

      33,589        2,114,092  

Merck

      18,678        1,498,723  
     

 

 

  
        24,521,769  
     

 

 

  

INDUSTRIALS — 6.4%

      

Fastenal

      72,167        3,394,736  

Lockheed Martin

      8,287        3,140,524  

Union Pacific

      12,809        2,220,440  
     

 

 

  
        8,755,700  
     

 

 

  

INFORMATION TECHNOLOGY — 22.7%

      

Accenture, Cl A

      9,323        2,095,624  

Amphenol, Cl A

      9,466        1,001,124  

Apple

      20,638        8,771,976  

 

19

THE ADVISORS’ INNER CIRCLE FUND   

CIBC ATLAS EQUITY INCOME FUND

JULY 31, 2020 (Unaudited)

 

 

 

 

COMMON STOCK (continued)

          Shares                    Value          

 

INFORMATION TECHNOLOGY (continued)

      

Broadridge Financial Solutions

      7,800      $ 1,047,852  

Microchip Technology

      23,640        2,404,897  

Microsoft

      52,619        10,787,421  

Taiwan Semiconductor Manufacturing ADR

      27,096        2,137,603  

Texas Instruments

      22,954        2,927,783  
     

 

 

  
        31,174,280  
     

 

 

  

REAL ESTATE — 14.0%

      

American Campus Communities ‡

      63,039        2,246,710  

American Tower, Cl A ‡

      22,969        6,003,867  

Americold Realty Trust ‡

      61,416        2,478,136  

Camden Property Trust ‡

      10,454        949,328  

CyrusOne ‡

      28,374        2,366,959  

Equinix ‡

      2,384        1,872,584  

VICI Properties ‡

      152,316        3,306,780  
     

 

 

  
        19,224,364  
     

 

 

  

UTILITIES — 8.1%

      

Brookfield Infrastructure Partners (A)

      75,090        3,141,766  

Brookfield Renewable, Cl A *

      15,410        692,525  

Brookfield Renewable Partners (A)

      61,640        2,656,068  

NextEra Energy Partners

      73,772        4,588,618  
     

 

 

  
        11,078,977  
     

 

 

  

TOTAL COMMON STOCK
(Cost $80,039,745)

         134,062,137  
     

 

 

  
     

CASH EQUIVALENT — 2.2%(B)

      

JPMorgan U.S. Government Money Market Fund, Cl Institutional, 0.030%
(Cost $2,946,656)

      2,946,656        2,946,656  
     

 

 

  

TOTAL INVESTMENTS — 99.9%
(Cost $82,986,401)

       $ 137,008,793  
     

 

 

  

Percentages are based on Net Assets of $137,170,197.

*

Non-income producing security.

‡

Real Estate Investment Trust

(A)

Securities considered Master Limited Partnerships. At July 31, 2020, these securities amounted to $11,849,214 or 8.6% of Net Assets.

(B)

The rate reported is the 7-day effective yield as of July 31, 2020.

ADR — American Depositary Receipt

Cl — Class

 

20

THE ADVISORS’ INNER CIRCLE FUND   

CIBC ATLAS EQUITY INCOME FUND

JULY 31, 2020 (Unaudited)

 

 

 

As of July 31, 2020, 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. generally accepted accounting principles.

For the period ended July 31, 2020, there were no transfers in or out of Level 3.

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 financial statements.

ATF-QH-006-0400

 

21

THE ADVISORS’ INNER CIRCLE FUND   

CIBC ATLAS INTERNATIONAL

GROWTH FUND

JULY 31, 2020 (Unaudited)

 

 

 

SCHEDULE OF INVESTMENTS              

 

COMMON STOCK — 96.5%

          Shares                    Value          

ARGENTINA — 1.9%

      

MercadoLibre *

      2,793      $ 3,141,064  
     

 

 

  

AUSTRALIA — 2.4%

      

BHP Group

      150,601        3,954,180  
     

 

 

  

CANADA — 6.2%

      

Brookfield Asset Management, Cl A

      53,924        1,743,363  

Canadian National Railway

      25,875        2,530,316  

Ritchie Bros Auctioneers

      84,235        3,898,396  

Suncor Energy

      115,721        1,823,763  
     

 

 

  
        9,995,838  
     

 

 

  

CHINA — 11.7%

      

Alibaba Group Holding ADR *

      22,846        5,734,803  

New Oriental Education & Technology Group ADR *

      21,336        2,991,307  

Tencent Holdings

      89,500        6,166,600  

Yum China Holdings *

      80,488        4,124,205  
     

 

 

  
        19,016,915  
     

 

 

  

DENMARK — 1.6%

      

Vestas Wind Systems

      19,911        2,556,867  
     

 

 

  

FRANCE — 7.2%

      

Air Liquide

      25,406        4,177,821  

LVMH Moet Hennessy Louis Vuitton

      10,045        4,339,585  

Ubisoft Entertainment *

      37,196        3,101,237  
     

 

 

  
        11,618,643  
     

 

 

  

GERMANY — 7.1%

      

Continental

      20,920        2,034,508  

Deutsche Boerse

      12,305        2,240,883  

Siemens

      25,393        3,240,043  

Symrise, Cl A

      31,936        3,989,508  
     

 

 

  
        11,504,942  
     

 

 

  

HONG KONG — 2.5%

      

AIA Group

      451,500        4,080,820  
     

 

 

  

INDIA — 2.3%

      

HDFC Bank ADR *

      78,781        3,683,012  
     

 

 

  

 

22

THE ADVISORS’ INNER CIRCLE FUND   

CIBC ATLAS INTERNATIONAL

GROWTH FUND

JULY 31, 2020 (Unaudited)

 

 

 

 

COMMON STOCK (continued)

          Shares                    Value          

IRELAND — 2.9%

      

ICON *

      25,411      $ 4,712,724  
     

 

 

  

JAPAN — 12.9%

      

Daikin Industries *

      25,500        4,444,523  

FANUC

      14,500        2,425,228  

Nidec

      53,500        4,232,795  

Seven & I Holdings

      63,500        1,923,206  

Sony

      38,500        2,937,282  

Sysmex *

      41,000        3,149,318  

Tokio Marine Holdings

      42,500        1,781,021  
     

 

 

  
        20,893,373  
     

 

 

  

MEXICO — 1.0%

      

Fomento Economico Mexicano ADR

      27,282        1,678,116  
     

 

 

  

NETHERLANDS — 2.8%

      

ASML Holding

      12,653        4,466,922  
     

 

 

  

SINGAPORE — 1.4%

      

DBS Group Holdings

      154,718        2,227,509  
     

 

 

  

SPAIN — 4.3%

      

Amadeus IT Group

      61,947        3,091,038  

Banco Santander *

      722,244        1,538,702  

Grifols ADR

      123,536        2,331,124  
     

 

 

  
        6,960,864  
     

 

 

  

SWEDEN — 2.9%

      

Assa Abloy, Cl B

      132,047        2,882,226  

Hexagon, Cl B *

      28,775        1,864,084  
     

 

 

  
        4,746,310  
     

 

 

  

SWITZERLAND — 7.6%

      

Alcon *

      49,914        3,001,771  

Chubb

      21,705        2,761,744  

Julius Baer Group

      65,088        2,846,777  

Novartis

      43,888        3,621,702  
     

 

 

  
        12,231,994  
     

 

 

  

TAIWAN — 3.9%

      

Taiwan Semiconductor Manufacturing ADR

      80,210        6,327,767  
     

 

 

  

 

23

THE ADVISORS’ INNER CIRCLE FUND   

CIBC ATLAS INTERNATIONAL

GROWTH FUND

JULY 31, 2020 (Unaudited)

 

 

 

COMMON STOCK (continued)

          Shares                    Value          

UNITED KINGDOM — 10.9%

      

BAE Systems

      386,658      $ 2,481,082  

Diageo

      63,039        2,311,337  

HSBC Holdings *

      355,285        1,591,467  

InterContinental Hotels Group

      44,619        2,053,570  

Lloyds Banking Group *

      3,886,504        1,337,235  

London Stock Exchange Group

      27,841        3,091,906  

Royal Dutch Shell, Cl B

      163,107        2,307,590  

Smith & Nephew

      122,725        2,437,825  
     

 

 

  
        17,612,012  
     

 

 

  

UNITED STATES — 3.0%

      

Euronet Worldwide *

      28,148        2,706,149  

Las Vegas Sands *

      50,958        2,223,807  
     

 

 

  
        4,929,956  
     

 

 

  

TOTAL COMMON STOCK
(Cost $148,937,091)

         156,339,828  
     

 

 

  
               

 

CASH EQUIVALENT — 2.2%(A)

      

JPMorgan U.S. Government Money Market Fund, Cl Institutional, 0.030%

      

(Cost $3,549,274)

      3,549,274        3,549,274  
     

 

 

  

TOTAL INVESTMENTS — 98.7%

      

(Cost $152,486,365)

       $ 159,889,102  
     

 

 

  

Percentages are based on Net Assets of $162,065,712.

*

Non-income producing security.

(A)

The rate reported is the 7-day effective yield as of July 31, 2020.

ADR — American Depositary Receipt

Cl — Class

The following is a summary of the inputs used as of July 31, 2020 in valuing the Fund’s investments carried at value:

 

Investments in Securities            Level 1                      Level 2                      Level 3                      Total        

Argentina

    $ 3,141,064      $ —      $ —      $ 3,141,064    

Australia

      3,954,180        —        —        3,954,180  

Canada

      9,995,838        —        —        9,995,838  

China

      19,016,915        —        —        19,016,915  

Denmark

      2,556,867        —        —        2,556,867  

France

      11,618,643        —        —        11,618,643  

 

24

THE ADVISORS’ INNER CIRCLE FUND   

CIBC ATLAS INTERNATIONAL

GROWTH FUND

JULY 31, 2020 (Unaudited)

 

 

Investments in Securities            Level 1                      Level 2                      Level 3                      Total          

Germany

    $ 11,504,942      $ —      $ —      $ 11,504,942    

Hong Kong

      4,080,820        —        —        4,080,820  

India

      3,683,012        —        —        3,683,012  

Ireland

      4,712,724        —        —        4,712,724  

Japan

      20,893,373        —        —        20,893,373  

Mexico

      1,678,116        —        —        1,678,116  

Netherlands

      4,466,922        —        —        4,466,922  

Singapore

      —        2,227,509        —        2,227,509  

Spain

      6,960,864        —        —        6,960,864  

Sweden

      4,746,310        —        —        4,746,310  

Switzerland

      12,231,994        —        —        12,231,994  

Taiwan

      6,327,767        —        —        6,327,767  

United Kingdom

      17,612,012        —        —        17,612,012  

United States

      4,929,956        —        —        4,929,956  

Cash Equivalent

      3,549,274        —        —        3,549,274  
  

 

 

     

 

 

     

 

 

     

 

 

  

Total Investments in Securities

    $     157,661,593      $       2,227,509      $ —      $   159,889,102  
  

 

 

     

 

 

     

 

 

     

 

 

  

For the period ended July 31, 2020, there were no transfers in or out of Level 3.

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 financial statements.

ATF-QH-007-0300

 

25