THE ADVISORS INNER CIRCLE FUND |
CAMBIAR OPPORTUNITY FUND | |
JULY 31, 2021 (UNAUDITED) | ||
SCHEDULE OF INVESTMENTS |
||||||||
COMMON STOCK 99.0% |
||||||||
Shares | Value | |||||||
AEROSPACE/DEFENSE EQUIPMENT 5.5% |
||||||||
L3Harris Technologies |
52,000 | $ | 11,790,480 | |||||
Raytheon Technologies |
90,000 | 7,825,500 | ||||||
|
|
| ||||||
19,615,980 | ||||||||
|
|
| ||||||
AIR FREIGHT & LOGISTICS 3.0% |
||||||||
United Parcel Service, Cl B |
56,000 | 10,716,160 | ||||||
|
|
| ||||||
AIRLINES 2.6% |
||||||||
Southwest Airlines * |
183,600 | 9,275,472 | ||||||
|
|
| ||||||
BANKS 5.7% |
||||||||
JPMorgan Chase |
64,000 | 9,713,920 | ||||||
US Bancorp |
190,000 | 10,552,600 | ||||||
|
|
| ||||||
20,266,520 | ||||||||
|
|
| ||||||
BIOTECHNOLOGY 5.2% |
||||||||
Biogen * |
38,000 | 12,415,740 | ||||||
Incyte * |
82,000 | 6,342,700 | ||||||
|
|
| ||||||
18,758,440 | ||||||||
|
|
| ||||||
CAPITAL MARKETS 6.9% |
||||||||
Charles Schwab |
100,000 | 6,795,000 | ||||||
Goldman Sachs Group |
25,000 | 9,372,000 | ||||||
KKR, Cl A |
135,000 | 8,607,600 | ||||||
|
|
| ||||||
24,774,600 | ||||||||
|
|
| ||||||
CHEMICALS 3.0% |
||||||||
Corteva |
250,000 | 10,695,000 | ||||||
|
|
| ||||||
COMMUNICATION EQUIPMENT 3.5% |
||||||||
Motorola Solutions |
56,000 | 12,539,520 | ||||||
|
|
| ||||||
CONSUMER FINANCE 2.1% |
||||||||
American Express |
45,000 | 7,673,850 | ||||||
|
|
| ||||||
ELECTRONIC EQUIPMENT INSTRUMENTS & COMPONENTS 2.0% |
||||||||
TE Connectivity |
50,000 | 7,373,500 | ||||||
|
|
| ||||||
FOOD, BEVERAGE & TOBACCO 2.6% |
||||||||
Sysco |
127,000 | 9,423,400 | ||||||
|
|
| ||||||
HEALTH CARE EQUIPMENT & SUPPLIES 4.7% |
||||||||
Baxter International |
90,000 | 6,961,500 | ||||||
Medtronic |
75,000 | 9,848,250 | ||||||
|
|
| ||||||
16,809,750 | ||||||||
|
|
| ||||||
HEALTH CARE PROVIDERS & SERVICES 3.3% |
||||||||
Centene * |
170,000 | 11,663,700 | ||||||
|
|
| ||||||
HOTELS, RESTAURANTS & LEISURE 1.8% |
||||||||
Penn National Gaming * |
94,000 | 6,427,720 | ||||||
|
|
| ||||||
HOUSEHOLD PRODUCTS 2.9% |
||||||||
Colgate-Palmolive |
132,000 | 10,494,000 | ||||||
|
|
| ||||||
INDUSTRIAL CONGLOMERATES 3.0% |
||||||||
3M |
55,000 | 10,886,700 | ||||||
|
|
| ||||||
INSURANCE 5.9% |
||||||||
Chubb |
65,000 | 10,968,100 | ||||||
Principal Financial Group |
162,000 | 10,065,060 | ||||||
|
|
| ||||||
21,033,160 | ||||||||
|
|
| ||||||
INTERACTIVE MEDIA & SERVICES 3.4% |
||||||||
Alphabet, Cl A * |
4,500 | 12,125,385 | ||||||
|
|
| ||||||
INTERNET & DIRECT MARKETING RETAIL 3.0% |
||||||||
Amazon.com * |
3,200 | 10,648,288 | ||||||
|
|
|
1
THE ADVISORS INNER CIRCLE FUND |
CAMBIAR OPPORTUNITY FUND | |
JULY 31, 2021 (UNAUDITED) | ||
COMMON STOCK continued |
||||||||
Shares | Value | |||||||
IT SERVICES 5.8% |
||||||||
Fiserv * |
100,000 | $ | 11,511,000 | |||||
Mastercard, Cl A |
24,000 | 9,262,560 | ||||||
|
|
| ||||||
20,773,560 | ||||||||
|
|
| ||||||
MULTI-UTILITIES 2.7% |
||||||||
Sempra Energy |
75,000 | 9,798,750 | ||||||
|
|
| ||||||
PHARMACEUTICALS 3.2% |
||||||||
Bristol-Myers Squibb |
170,000 | 11,537,900 | ||||||
|
|
| ||||||
REAL ESTATE INVESTMENT TRUSTS 2.1% |
||||||||
Welltower |
85,000 | 7,383,100 | ||||||
|
|
| ||||||
ROAD & RAIL 4.4% |
||||||||
Uber Technologies * |
210,000 | 9,126,600 | ||||||
Union Pacific |
31,000 | 6,781,560 | ||||||
|
|
| ||||||
15,908,160 | ||||||||
|
|
| ||||||
SEMI-CONDUCTORS & EQUIPMENT 5.4% |
||||||||
Applied Materials |
79,000 | 11,054,470 | ||||||
Skyworks Solutions |
45,000 | 8,302,950 | ||||||
|
|
| ||||||
19,357,420 | ||||||||
|
|
| ||||||
SEMI-CONDUCTORS & INSTRUMENTS 3.2% |
||||||||
Marvell Technology |
190,000 | 11,496,900 | ||||||
|
|
| ||||||
SPECIALTY RETAIL 2.1% |
||||||||
TJX |
110,000 | 7,569,100 | ||||||
|
|
| ||||||
TOTAL COMMON STOCK |
355,026,035 | |||||||
|
|
| ||||||
TOTAL INVESTMENTS 99.0% |
$ | 355,026,035 | ||||||
|
|
|
Percentages are based on Net Assets of $358,556,323. |
* | Non-income producing security. |
Cl Class
As of July 31, 2021, all of the Funds investments in securities 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, 2021, there were no transfers in or out of Level 3.
For information on the Funds policy regarding valuation of investments and other significant accounting policies, please refer to the Funds most recent semiannual or annual financial statements.
CMB-QH-007-2800
2
THE ADVISORS INNER CIRCLE FUND |
CAMBIAR SMID FUND | |
JULY 31, 2021 (UNAUDITED) | ||
SCHEDULE OF INVESTMENTS |
||||||||
COMMON STOCK 94.6% |
||||||||
Shares | Value | |||||||
AEROSPACE & DEFENSE 2.9% |
||||||||
Mercury Systems * |
67,000 | $ | 4,422,000 | |||||
|
|
| ||||||
AIR FREIGHT & LOGISTICS 2.5% |
||||||||
Expeditors International of Washington |
29,500 | 3,783,375 | ||||||
|
|
| ||||||
BANKS 9.3% |
||||||||
BOK Financial |
42,170 | 3,542,702 | ||||||
East West Bancorp |
52,330 | 3,723,279 | ||||||
First Horizon |
218,990 | 3,383,395 | ||||||
Signature Bank NY |
15,750 | 3,574,778 | ||||||
|
|
| ||||||
14,224,154 | ||||||||
|
|
| ||||||
BIOTECHNOLOGY 2.2% |
||||||||
Exelixis * |
193,840 | 3,266,204 | ||||||
|
|
| ||||||
BUILDING PRODUCTS 2.2% |
||||||||
Builders FirstSource * |
76,000 | 3,382,000 | ||||||
|
|
| ||||||
ELECTRICAL EQUIPMENT 5.0% |
||||||||
GrafTech International |
304,850 | 3,466,145 | ||||||
Hubbell, Cl B |
21,340 | 4,277,816 | ||||||
|
|
| ||||||
7,743,961 | ||||||||
|
|
| ||||||
ELECTRONIC EQUIPMENT, INSTRUMENTS & COMPONENTS 2.7% |
||||||||
IPG Photonics * |
18,800 | 4,101,408 | ||||||
|
|
| ||||||
ELECTRONICS EQUIPMENT 2.4% |
||||||||
Vontier |
112,000 | 3,623,200 | ||||||
|
|
| ||||||
FOOD, BEVERAGE & TOBACCO 2.4% |
||||||||
Lamb Weston Holdings |
55,700 | 3,719,089 | ||||||
|
|
| ||||||
GAS UTILITIES 2.4% |
||||||||
Atmos Energy |
37,090 | 3,656,703 | ||||||
|
|
| ||||||
HEALTH CARE EQUIPMENT & SERVICES 2.6% |
||||||||
STERIS |
18,490 | 4,029,896 | ||||||
|
|
| ||||||
HOTELS, RESTAURANTS & LEISURE 2.0% |
||||||||
Penn National Gaming * |
45,730 | 3,127,017 | ||||||
|
|
| ||||||
INSURANCE 12.9% |
||||||||
American Financial Group |
33,030 | 4,177,965 | ||||||
Arch Capital Group * |
103,650 | 4,042,350 | ||||||
Axis Capital Holdings |
76,210 | 3,876,803 | ||||||
Fidelity National Financial |
90,440 | 4,034,528 | ||||||
Reinsurance Group of America, Cl A |
33,835 | 3,727,940 | ||||||
|
|
| ||||||
19,859,586 | ||||||||
|
|
| ||||||
IT SERVICES 10.0% |
||||||||
Amdocs |
49,280 | 3,799,981 | ||||||
Euronet Worldwide * |
26,930 | 3,846,142 | ||||||
Maximus |
42,170 | 3,753,130 | ||||||
WEX * |
20,530 | 3,895,157 | ||||||
|
|
| ||||||
15,294,410 | ||||||||
|
|
| ||||||
MACHINERY 5.3% |
||||||||
Lincoln Electric Holdings |
30,490 | 4,251,221 | ||||||
Toro |
34,040 | 3,871,709 | ||||||
|
|
| ||||||
8,122,930 | ||||||||
|
|
| ||||||
PROFESSIONAL SERVICES 2.4% |
||||||||
Leidos Holdings |
35,060 | 3,731,085 | ||||||
|
|
| ||||||
REAL ESTATE INVESTMENT TRUSTS 5.3% |
||||||||
National Retail Properties |
82,310 | 4,022,490 | ||||||
VICI Properties ** |
132,610 | 4,136,106 | ||||||
|
|
| ||||||
8,158,596 | ||||||||
|
|
|
THE ADVISORS INNER CIRCLE FUND |
CAMBIAR SMID FUND | |
JULY 31, 2021 (UNAUDITED) | ||
COMMON STOCK continued |
||||||||
Shares | Value | |||||||
SEMI-CONDUCTORS & INSTRUMENTS 4.8% |
||||||||
ON Semiconductor * |
92,470 | $ | 3,611,878 | |||||
Qorvo * |
20,020 | 3,795,592 | ||||||
|
|
| ||||||
7,407,470 | ||||||||
|
|
| ||||||
SOFTWARE 2.3% |
||||||||
Dolby Laboratories, Cl A |
37,090 | 3,601,439 | ||||||
|
|
| ||||||
SPECIALTY RETAIL 10.3% |
||||||||
Bed Bath & Beyond * |
134,000 | 3,824,360 | ||||||
Burlington Stores * |
12,190 | 4,081,212 | ||||||
Gap |
134,315 | 3,917,969 | ||||||
Ulta Beauty * |
11,690 | 3,925,502 | ||||||
|
|
| ||||||
15,749,043 | ||||||||
|
|
| ||||||
WATER UTILITIES 2.7% |
||||||||
Essential Utilities |
84,340 | 4,142,781 | ||||||
|
|
| ||||||
TOTAL COMMON STOCK |
145,146,347 | |||||||
|
|
| ||||||
TOTAL INVESTMENTS 94.6% |
$ | 145,146,347 | ||||||
|
|
|
Percentages are based on Net Assets of $153,416,582. |
* | Non-income producing security. |
Cl Class
As of July 31, 2021, all of the Funds investments in securities 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, 2021, there were no transfers in or out of Level 3.
For information on the Funds policy regarding valuation of investments and other significant accounting policies, please refer to the Funds most recent semiannual or annual financial statements.
CMB-QH-011-2100
THE ADVISORS INNER CIRCLE FUND |
CAMBIAR SMALL CAP FUND | |
JULY 31, 2021 (UNAUDITED) | ||
SCHEDULE OF INVESTMENTS |
||||||||
COMMON STOCK 98.0% |
||||||||
Shares | Value | |||||||
AEROSPACE & DEFENSE 6.0% |
||||||||
BWX Technologies |
34,000 | $ | 1,952,620 | |||||
Mercury Systems * |
31,000 | 2,046,000 | ||||||
Parsons * |
51,000 | 1,969,620 | ||||||
|
|
| ||||||
5,968,240 | ||||||||
|
|
| ||||||
AIR FREIGHT & LOGISTICS 1.9% |
||||||||
Forward Air |
21,000 | 1,857,240 | ||||||
|
|
| ||||||
AIRLINES 2.1% |
||||||||
Hawaiian Holdings * |
105,000 | 2,071,650 | ||||||
|
|
| ||||||
BANKS 9.4% |
||||||||
Cathay General Bancorp |
49,000 | 1,855,630 | ||||||
Prosperity Bancshares |
28,000 | 1,909,320 | ||||||
Texas Capital Bancshares * |
31,000 | 1,952,380 | ||||||
United Bankshares |
53,000 | 1,830,620 | ||||||
United Community Banks |
62,000 | 1,786,220 | ||||||
|
|
| ||||||
9,334,170 | ||||||||
|
|
| ||||||
BIOTECHNOLOGY 4.4% |
||||||||
Chimerix * |
123,000 | 815,490 | ||||||
Emergent BioSolutions * |
27,500 | 1,812,250 | ||||||
Exelixis * |
100,075 | 1,686,264 | ||||||
|
|
| ||||||
4,314,004 | ||||||||
|
|
| ||||||
BUILDING PRODUCTS 1.9% |
||||||||
PGT Innovations * |
84,000 | 1,896,720 | ||||||
|
|
| ||||||
CHEMICALS 2.0% |
||||||||
Cabot |
36,000 | 1,982,160 | ||||||
|
|
| ||||||
COMMERCIAL SERVICES & SUPPLIES 1.7% |
||||||||
Healthcare Services Group |
63,000 | 1,644,300 | ||||||
|
|
| ||||||
CONSTRUCTION & ENGINEERING 2.0% |
||||||||
NV5 Global * |
21,000 | 1,995,000 | ||||||
|
|
| ||||||
ELECTRIC UTILITIES 2.3% |
||||||||
IDACORP |
22,000 | 2,319,900 | ||||||
|
|
| ||||||
ELECTRICAL EQUIPMENT 4.3% |
||||||||
EnerSys |
23,000 | 2,269,180 | ||||||
GrafTech International |
174,000 | 1,978,380 | ||||||
|
|
| ||||||
4,247,560 | ||||||||
|
|
| ||||||
ELECTRONICS EQUIPMENT 2.2% |
||||||||
Advanced Energy Industries |
21,000 | 2,178,750 | ||||||
|
|
| ||||||
FOOD PRODUCTS 4.5% |
||||||||
Hain Celestial Group * |
50,000 | 1,995,500 | ||||||
Sanderson Farms |
13,000 | 2,428,920 | ||||||
|
|
| ||||||
4,424,420 | ||||||||
|
|
| ||||||
HEALTH CARE EQUIPMENT & SERVICES 6.4% |
||||||||
Cardiovascular Systems * |
52,000 | 2,095,080 | ||||||
ICU Medical * |
10,000 | 2,032,900 | ||||||
NuVasive * |
34,000 | 2,174,300 | ||||||
|
|
| ||||||
6,302,280 | ||||||||
|
|
| ||||||
HEALTH CARE PROVIDER & SERVICES 3.9% |
||||||||
Apria * |
72,000 | 2,270,160 | ||||||
Innovage Holding * |
94,000 | 1,584,840 | ||||||
|
|
| ||||||
3,855,000 | ||||||||
|
|
|
THE ADVISORS INNER CIRCLE FUND |
CAMBIAR SMALL CAP FUND | |
JULY 31, 2021 (UNAUDITED) | ||
COMMON STOCK continued |
||||||||
Shares | Value | |||||||
INSURANCE 10.6% |
||||||||
Axis Capital Holdings |
41,000 | $ | 2,085,670 | |||||
First American Financial |
35,500 | 2,389,505 | ||||||
James River Group Holdings |
58,000 | 2,110,040 | ||||||
Reinsurance Group of America, Cl A |
17,000 | 1,873,060 | ||||||
RenaissanceRe Holdings |
13,000 | 1,984,970 | ||||||
|
|
| ||||||
10,443,245 | ||||||||
|
|
| ||||||
IT SERVICES 6.6% |
||||||||
Perficient * |
24,000 | 2,262,960 | ||||||
Switch, Cl A |
101,000 | 2,086,660 | ||||||
WNS Holdings ADR * |
27,000 | 2,223,180 | ||||||
|
|
| ||||||
6,572,800 | ||||||||
|
|
| ||||||
PHARMACEUTICALS 1.9% |
||||||||
Harmony Biosciences Holdings * |
73,000 | 1,909,680 | ||||||
|
|
| ||||||
PROFESSIONAL SERVICES 4.2% |
||||||||
Insperity |
22,000 | 2,179,100 | ||||||
ManpowerGroup |
17,000 | 2,015,860 | ||||||
|
|
| ||||||
4,194,960 | ||||||||
|
|
| ||||||
REAL ESTATE INVESTMENT TRUSTS 2.3% |
||||||||
NETSTREIT |
88,000 | 2,283,600 | ||||||
|
|
| ||||||
REAL ESTATE MANAGEMENT & DEVELOPMENT 2.4% |
||||||||
Marcus & Millichap * |
59,600 | 2,371,484 | ||||||
|
|
| ||||||
SEMI-CONDUCTORS & INSTRUMENTS 6.8% |
||||||||
Cohu * |
57,000 | 2,018,370 | ||||||
Diodes * |
26,500 | 2,173,000 | ||||||
Rambus * |
106,000 | 2,507,960 | ||||||
|
|
| ||||||
6,699,330 | ||||||||
|
|
| ||||||
SOFTWARE 6.2% |
||||||||
Bottomline Technologies DE * |
51,000 | 2,058,360 | ||||||
Cognyte Software * |
81,000 | 2,103,570 | ||||||
Envestnet * |
26,000 | 1,955,980 | ||||||
|
|
| ||||||
6,117,910 | ||||||||
|
|
| ||||||
SPECIALTY RETAIL 2.0% |
||||||||
Bed Bath & Beyond * |
70,000 | 1,997,800 | ||||||
|
|
| ||||||
TOTAL COMMON STOCK |
96,982,203 | |||||||
|
|
| ||||||
TOTAL INVESTMENTS 98.0% |
||||||||
(Cost $79,585,478) |
$ | 96,982,203 | ||||||
|
|
|
Percentages are based on Net Assets of $98,966,390. |
* | Non-income producing security. |
ADR American Depositary Receipt
Cl Class
As of July 31, 2021, all of the Funds 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, 2021, there were no transfers in or out of Level 3.
For information on the Funds policy regarding valuation of investments and other significant accounting policies, please refer to the Funds most recent semiannual or annual financial statements.
CMB-QH-009-2800
THE ADVISORS INNER CIRCLE FUND |
CAMBIAR INTERNATIONAL EQUITY FUND | |
JULY 31, 2021 (UNAUDITED) | ||
SCHEDULE OF INVESTMENTS |
||||||||
COMMON STOCK 95.0% |
||||||||
Shares | Value | |||||||
BELGIUM 4.1% |
||||||||
KBC Group |
258,000 | $ | 20,781,029 | |||||
UCB |
172,000 | 18,608,050 | ||||||
|
|
| ||||||
39,389,079 | ||||||||
|
|
| ||||||
BRAZIL 1.8% |
||||||||
Itau Unibanco Holding ADR |
3,005,000 | 17,338,850 | ||||||
|
|
| ||||||
CHINA 3.8% |
||||||||
Alibaba Group Holding ADR * |
96,000 | 18,738,240 | ||||||
Yum China Holdings |
288,000 | 17,910,720 | ||||||
|
|
| ||||||
36,648,960 | ||||||||
|
|
| ||||||
DENMARK 2.0% |
||||||||
Carlsberg, Cl B |
105,000 | 19,414,368 | ||||||
|
|
| ||||||
FINLAND 2.2% |
||||||||
Nordea Bank Abp * |
1,753,000 | 20,547,105 | ||||||
|
|
| ||||||
FRANCE 15.2% |
||||||||
Air Liquide |
117,000 | 20,344,085 | ||||||
Airbus |
143,000 | 19,626,686 | ||||||
Capgemini |
120,000 | 25,943,368 | ||||||
Compagnie de Saint-Gobain |
288,000 | 20,583,874 | ||||||
Danone |
268,000 | 19,729,866 | ||||||
Pernod Ricard |
138,000 | 30,465,130 | ||||||
Worldline * |
91,662 | 8,580,231 | ||||||
|
|
| ||||||
145,273,240 | ||||||||
|
|
| ||||||
GERMANY 13.1% |
||||||||
Deutsche Post |
335,000 | 22,695,228 | ||||||
Fresenius Medical Care & KGaA |
268,000 | 21,154,130 | ||||||
Merck KGaA |
115,000 | 23,552,770 | ||||||
SAP |
216,000 | 30,962,929 | ||||||
Siemens |
172,000 | 26,847,009 | ||||||
|
|
| ||||||
125,212,066 | ||||||||
|
|
| ||||||
HONG KONG 1.8% |
||||||||
AIA Group |
1,396,000 | 16,724,371 | ||||||
|
|
| ||||||
ITALY 1.8% |
||||||||
Enel |
1,913,000 | 17,655,180 | ||||||
|
|
| ||||||
JAPAN 11.3% |
||||||||
FANUC |
71,000 | 15,778,497 | ||||||
Hitachi |
373,000 | 21,277,371 | ||||||
Komatsu |
771,000 | 19,882,038 | ||||||
Murata Manufacturing |
258,000 | 21,259,924 | ||||||
Sony Group |
286,000 | 29,654,528 | ||||||
|
|
| ||||||
107,852,358 | ||||||||
|
|
| ||||||
NETHERLANDS 4.0% |
||||||||
ASML Holding |
27,000 | 20,466,435 | ||||||
Koninklijke Philips |
386,000 | 17,807,495 | ||||||
|
|
| ||||||
38,273,930 | ||||||||
|
|
| ||||||
SINGAPORE 2.1% |
||||||||
DBS Group Holdings |
880,000 | 19,750,397 | ||||||
|
|
| ||||||
SPAIN 5.7% |
||||||||
Aena SME ADR * |
1,128,000 | 17,969,040 | ||||||
Amadeus IT Group * |
258,000 | 16,906,393 | ||||||
Banco Santander |
5,404,000 | 19,792,465 | ||||||
|
|
| ||||||
54,667,898 | ||||||||
|
|
| ||||||
SWITZERLAND 7.8% |
||||||||
Adecco Group |
288,000 | 17,257,427 | ||||||
Julius Baer Group |
288,000 | 19,056,930 | ||||||
Roche Holding |
54,000 | 20,885,246 |
7
THE ADVISORS INNER CIRCLE FUND |
CAMBIAR INTERNATIONAL EQUITY FUND | |
JULY 31, 2021 (UNAUDITED) | ||
COMMON STOCK continued |
||||||||
Shares | Value | |||||||
SWITZERLAND continued |
||||||||
Zurich Insurance Group |
44,000 | $ | 17,768,063 | |||||
|
|
| ||||||
74,967,666 | ||||||||
|
|
| ||||||
TAIWAN 1.7% |
||||||||
Taiwan Semiconductor Manufacturing ADR |
137,000 | 15,979,680 | ||||||
|
|
| ||||||
UNITED KINGDOM 16.6% |
||||||||
Anglo American |
463,000 | 20,533,228 | ||||||
BAE Systems |
3,568,000 | 28,567,012 | ||||||
Compass Group |
846,000 | 17,886,158 | ||||||
Entain |
1,170,000 | 29,541,923 | ||||||
London Stock Exchange Group |
178,000 | 18,531,873 | ||||||
Reckitt Benckiser Group |
321,000 | 24,643,227 | ||||||
Smith & Nephew ADR |
455,000 | 18,623,150 | ||||||
|
|
| ||||||
158,326,571 | ||||||||
|
|
| ||||||
TOTAL COMMON STOCK |
||||||||
(Cost $703,495,721) |
908,021,719 | |||||||
|
|
| ||||||
TOTAL INVESTMENTS 95.0% |
||||||||
(Cost $703,495,721) |
$ | 908,021,719 | ||||||
|
|
|
Percentages are based on Net Assets of $956,280,953. |
* | Non-income producing security. |
ADR American Depositary Receipt
Cl Class
As of July 31, 2021, all of the Funds 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, 2021, there were no transfers in or out of Level 3.
For information on the Funds policy regarding valuation of investments and other significant accounting policies, please refer to the Funds most recent semiannual or annual financial statements.
CMB-QH-008-2800
8
THE ADVISORS INNER CIRCLE FUND |
CAMBIAR INTERNATIONAL SMALL CAP FUND | |
JULY 31, 2021 (UNAUDITED) | ||
SCHEDULE OF INVESTMENTS |
||||||||
COMMON STOCK 93.4% |
||||||||
Shares | Value | |||||||
ARGENTINA 2.4% |
||||||||
Despegar.com * |
188,000 | $ | 2,370,680 | |||||
|
|
| ||||||
AUSTRIA 2.0% |
||||||||
Flughafen Wien * |
60,000 | 1,992,906 | ||||||
|
|
| ||||||
DENMARK 2.2% |
||||||||
GN Store Nord |
24,517 | 2,148,707 | ||||||
|
|
| ||||||
FINLAND 2.3% |
||||||||
Nokian Renkaat |
54,692 | 2,307,083 | ||||||
|
|
| ||||||
FRANCE 12.6% |
||||||||
Eurazeo |
28,569 | 2,768,820 | ||||||
Euronext |
25,924 | 2,884,579 | ||||||
Remy Cointreau |
10,081 | 2,214,737 | ||||||
Virbac |
6,174 | 2,493,799 | ||||||
Wendel |
15,000 | 2,106,786 | ||||||
|
|
| ||||||
12,468,721 | ||||||||
|
|
| ||||||
GERMANY 14.8% |
||||||||
Brenntag |
24,101 | 2,407,270 | ||||||
Gerresheimer |
19,648 | 2,052,227 | ||||||
KION Group |
22,716 | 2,411,751 | ||||||
MTU Aero Engines |
6,080 | 1,522,542 | ||||||
Rheinmetall |
22,588 | 2,169,331 | ||||||
Scout24 |
23,614 | 2,023,041 | ||||||
Stabilus |
25,209 | 1,999,100 | ||||||
|
|
| ||||||
14,585,262 | ||||||||
|
|
| ||||||
HONG KONG 2.1% |
||||||||
ASM Pacific Technology |
162,832 | 2,095,340 | ||||||
|
|
| ||||||
ITALY 6.1% |
||||||||
Azimut Holding |
76,384 | 1,968,067 | ||||||
Buzzi Unicem |
70,327 | 1,860,392 | ||||||
Technogym |
168,532 | 2,175,148 | ||||||
|
|
| ||||||
6,003,607 | ||||||||
|
|
| ||||||
JAPAN 11.0% |
||||||||
Kakaku.com |
73,500 | 1,994,526 | ||||||
Matsumotokiyoshi Holdings |
46,500 | 2,055,740 | ||||||
OKUMA |
45,050 | 2,238,025 | ||||||
Ryohin Keikaku |
101,700 | 2,057,083 | ||||||
Taiyo Yuden |
48,800 | 2,486,596 | ||||||
|
|
| ||||||
10,831,970 | ||||||||
|
|
| ||||||
LUXEMBOURG 2.1% |
||||||||
LOccitane International |
603,600 | 2,097,141 | ||||||
|
|
| ||||||
MEXICO 2.1% |
||||||||
Coca-Cola Femsa ADR |
36,243 | 2,050,266 | ||||||
|
|
| ||||||
NETHERLANDS 2.5% |
||||||||
Aalberts |
40,000 | 2,435,142 | ||||||
|
|
| ||||||
NORWAY 4.3% |
||||||||
Schibsted |
39,269 | 2,081,960 | ||||||
Volue * |
410,500 | 2,139,679 | ||||||
|
|
| ||||||
4,221,639 | ||||||||
|
|
| ||||||
SPAIN 2.1% |
||||||||
Almirall |
130,019 | 2,062,129 | ||||||
|
|
| ||||||
SWITZERLAND 2.3% |
||||||||
COSMO Pharmaceuticals * |
23,810 | 2,234,200 | ||||||
|
|
| ||||||
UNITED KINGDOM 22.5% |
||||||||
Ashmore Group |
381,500 | 2,016,156 | ||||||
Biffa * |
531,000 | 2,638,688 |
9
THE ADVISORS INNER CIRCLE FUND |
CAMBIAR INTERNATIONAL SMALL CAP FUND | |
JULY 31, 2021 (UNAUDITED) | ||
COMMON STOCK continued |
||||||||
Shares | Value | |||||||
UNITED KINGDOM continued |
||||||||
Britvic |
147,225 | $ | 1,994,256 | |||||
Electrocomponents |
171,591 | 2,425,677 | ||||||
Greggs |
70,356 | 2,694,264 | ||||||
Hargreaves Lansdown |
86,081 | 1,953,341 | ||||||
Lancashire Holdings |
223,429 | 1,982,978 | ||||||
Rotork |
411,413 | 2,062,154 | ||||||
Tate & Lyle |
219,877 | 2,259,224 | ||||||
Virgin Money UK * |
791,000 | 2,198,994 | ||||||
|
|
| ||||||
22,225,732 | ||||||||
|
|
| ||||||
TOTAL COMMON STOCK |
||||||||
(Cost $66,189,116) |
92,130,525 | |||||||
|
|
| ||||||
TOTAL INVESTMENTS 93.4% |
||||||||
(Cost $66,189,116) |
$ | 92,130,525 | ||||||
|
|
|
Percentages are based on Net Assets of $98,669,425. |
* | Non-income producing security. |
ADR American Depositary Receipt
As of July 31, 2021, all of the Funds 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, 2021, there were no transfers in or out of Level 3.
For information on the Funds policy regarding valuation of investments and other significant accounting policies, please refer to the Funds most recent semiannual or annual financial statements.
CMB-QH-013-1400
10
THE ADVISORS INNER CIRCLE FUND |
CAMBIAR GLOBAL EQUITY FUND | |
JULY 31, 2021 (UNAUDITED) | ||
SCHEDULE OF INVESTMENTS |
||||||||
COMMON STOCK 96.1% |
||||||||
Shares | Value | |||||||
BELGIUM 3.7% |
||||||||
KBC Group ADR |
5,088 | $ | 205,555 | |||||
UCB ADR |
3,386 | 186,603 | ||||||
|
|
| ||||||
392,158 | ||||||||
|
|
| ||||||
CHINA 3.9% |
||||||||
Alibaba Group Holding ADR * |
996 | 194,409 | ||||||
Yum China Holdings |
3,445 | 214,245 | ||||||
|
|
| ||||||
408,654 | ||||||||
|
|
| ||||||
FRANCE 8.3% |
||||||||
Airbus ADR * |
6,106 | 209,588 | ||||||
Capgemini ADR |
5,135 | 222,243 | ||||||
Danone ADR |
15,177 | 223,405 | ||||||
Pernod Ricard ADR |
4,954 | 218,199 | ||||||
|
|
| ||||||
873,435 | ||||||||
|
|
| ||||||
GERMANY 5.8% |
||||||||
Deutsche Post ADR |
2,968 | 201,438 | ||||||
Merck KGaA ADR |
5,056 | 207,397 | ||||||
SAP ADR |
1,413 | 203,077 | ||||||
|
|
| ||||||
611,912 | ||||||||
|
|
| ||||||
HONG KONG 1.9% |
||||||||
AIA Group ADR |
4,186 | 200,656 | ||||||
|
|
| ||||||
ITALY 1.9% |
||||||||
Enel ADR |
21,794 | 199,633 | ||||||
|
|
| ||||||
JAPAN 1.9% |
||||||||
Sony Group ADR |
1,947 | 203,072 | ||||||
|
|
| ||||||
NETHERLANDS 4.2% |
||||||||
ASML Holding ADR |
315 | 241,523 | ||||||
Koninklijke Philips ADR |
4,395 | 202,346 | ||||||
|
|
| ||||||
443,869 | ||||||||
|
|
| ||||||
SWITZERLAND 2.0% |
||||||||
Roche Holding ADR |
4,264 | 205,781 | ||||||
|
|
| ||||||
TAIWAN 1.9% |
||||||||
Taiwan Semiconductor Manufacturing ADR |
1,740 | 202,953 | ||||||
|
|
| ||||||
UNITED KINGDOM 5.8% |
||||||||
Entain ADR * |
9,000 | 225,000 | ||||||
Reckitt Benckiser Group ADR |
12,001 | 186,063 | ||||||
Smith & Nephew ADR |
4,746 | 194,254 | ||||||
|
|
| ||||||
605,317 | ||||||||
|
|
| ||||||
UNITED STATES 54.8% |
||||||||
3M |
1,091 | 215,952 | ||||||
Alphabet * |
104 | 280,231 | ||||||
Amazon.com * |
73 | 242,914 | ||||||
American Express |
1,211 | 206,512 | ||||||
Baxter International |
2,700 | 208,845 | ||||||
Biogen * |
599 | 195,711 | ||||||
Burlington Stores * |
880 | 294,624 | ||||||
Charles Schwab |
2,982 | 202,627 | ||||||
Chubb |
1,179 | 198,944 | ||||||
Colgate-Palmolive |
3,087 | 245,416 | ||||||
Corteva |
4,838 | 206,970 | ||||||
Expeditors International of Washington |
1,593 | 204,302 | ||||||
Fiserv * |
1,900 | 218,709 | ||||||
Incyte * |
2,211 | 171,021 | ||||||
JPMorgan Chase |
1,324 | 200,957 | ||||||
KKR |
3,388 | 216,019 | ||||||
L3Harris Technologies |
1,066 | 241,705 | ||||||
London Stock Exchange Group ADR |
7,843 | 207,447 | ||||||
Marvell Technology |
3,690 | 223,282 |
11
THE ADVISORS INNER CIRCLE FUND |
CAMBIAR GLOBAL EQUITY FUND | |
JULY 31, 2021 (UNAUDITED) | ||
COMMON STOCK continued |
||||||||
Shares | Value | |||||||
UNITED STATES continued |
||||||||
Mastercard |
570 | $ | 219,986 | |||||
Medtronic |
1,629 | 213,904 | ||||||
Motorola Solutions |
929 | 208,022 | ||||||
Sysco |
3,685 | 273,427 | ||||||
Uber Technologies * |
5,413 | 235,249 | ||||||
Ulta Beauty * |
650 | 218,270 | ||||||
Union Pacific |
989 | 216,354 | ||||||
|
|
| ||||||
5,767,400 | ||||||||
|
|
| ||||||
TOTAL COMMON STOCK |
||||||||
(Cost $7,443,754) |
10,114,840 | |||||||
|
|
| ||||||
TOTAL INVESTMENTS 96.1% |
||||||||
(Cost $7,443,754) |
$ | 10,114,840 | ||||||
|
|
|
Percentages are based on Net Assets of $10,525,201. |
* | Non-income producing security. |
ADR American Depositary Receipt
As of July 31, 2021, all of the Funds investments in securities 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, 2021, there were no transfers in or out of Level 3.
For information on the Funds policy regarding valuation of investments and other significant accounting policies, please refer to the Funds most recent semiannual or annual financial statements.
CMB-QH-012-2000
12
THE ADVISORS INNER CIRCLE FUND |
CAMBIAR AGGRESSIVE VALUE FUND | |
JULY 31, 2021 (UNAUDITED) | ||
SCHEDULE OF INVESTMENTS |
||||||||
COMMON STOCK 98.6% |
||||||||
Shares | Value | |||||||
FRANCE 5.3% |
||||||||
Airbus ADR * |
40,000 | $ | 1,373,000 | |||||
Capgemini ADR |
37,000 | 1,601,360 | ||||||
|
|
| ||||||
2,974,360 | ||||||||
|
|
| ||||||
GERMANY 5.2% |
||||||||
SAP ADR |
20,000 | 2,874,400 | ||||||
|
|
| ||||||
HONG KONG 2.5% |
||||||||
ASM Pacific Technology ADR |
36,000 | 1,393,920 | ||||||
|
|
| ||||||
NETHERLANDS 3.2% |
||||||||
ING Groep ADR |
140,000 | 1,792,000 | ||||||
|
|
| ||||||
SPAIN 6.1% |
||||||||
Aena SME ADR * |
110,000 | 1,752,300 | ||||||
Amadeus IT Group ADR * |
25,000 | 1,640,125 | ||||||
|
|
| ||||||
3,392,425 | ||||||||
|
|
| ||||||
SWITZERLAND 2.7% |
||||||||
Adecco Group ADR |
50,000 | 1,493,500 | ||||||
|
|
| ||||||
UNITED KINGDOM 10.5% |
||||||||
BAE Systems ADR |
60,000 | 1,939,200 | ||||||
Entain ADR * |
90,000 | 2,250,000 | ||||||
Tate & Lyle ADR |
40,000 | 1,669,200 | ||||||
|
|
| ||||||
5,858,400 | ||||||||
|
|
| ||||||
UNITED STATES 63.1% |
||||||||
3M |
9,000 | 1,781,460 | ||||||
Air Lease |
57,000 | 2,414,520 | ||||||
Alphabet * |
900 | 2,425,077 | ||||||
Applied Materials |
13,000 | 1,819,090 | ||||||
Bed Bath & Beyond * |
82,000 | 2,340,280 | ||||||
Biogen * |
10,000 | 3,267,300 | ||||||
Centene * |
30,000 | 2,058,300 | ||||||
Corteva |
42,000 | 1,796,760 | ||||||
Fiserv * |
22,000 | 2,532,420 | ||||||
Goldman Sachs Group |
4,000 | 1,499,520 | ||||||
GrafTech International |
225,000 | 2,558,250 | ||||||
Marvell Technology |
30,000 | 1,815,300 | ||||||
Motorola Solutions |
10,000 | 2,239,200 | ||||||
Penn National Gaming * |
15,000 | 1,025,700 | ||||||
Principal Financial Group |
30,000 | 1,863,900 | ||||||
Raytheon Technologies |
20,000 | 1,739,000 | ||||||
Uber Technologies * |
45,000 | 1,955,700 | ||||||
|
|
| ||||||
35,131,777 | ||||||||
|
|
| ||||||
TOTAL COMMON STOCK |
||||||||
(Cost $43,547,390) |
54,910,782 | |||||||
|
|
| ||||||
TOTAL INVESTMENTS 98.6% |
||||||||
(Cost $43,547,390) |
$ | 54,910,782 | ||||||
|
|
|
Percentages are based on Net Assets of $55,715,861. |
* | Non-income producing security. |
ADR American Depositary Receipt
As of July 31, 2021, all of the Funds investments in securities 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, 2021, there were no transfers in or out of Level 3.
For information on the Funds policy regarding valuation of investments and other significant accounting policies, please refer to the Funds most recent semiannual or annual financial statements.
CMB-QH-010-2800
13