NPORT-EX 2 CIBC_Schedule_F.htm SCHEDULE F HTML
THE ADVISORS’ INNER CIRCLE FUND      

CIBC ATLAS DISCIPLINED EQUITY FUND        

JULY 31, 2022 (Unaudited)

 

 

 

SCHEDULE OF INVESTMENTS             

COMMON STOCK** — 98.0%

            Shares             Value  
  

 

 

    

 

 

  

COMMUNICATION SERVICES — 9.6%

     

Alphabet, Cl A *

      390,680     $ 45,443,898  

Alphabet, Cl C *

      476,260       55,550,966  

T-Mobile US *

      230,193       32,931,411  

Walt Disney *

      161,910       17,178,651  
    

 

 

  
       151,104,926  
    

 

 

  

CONSUMER DISCRETIONARY — 10.9%

     

Amazon.com *

      664,480       89,671,576  

Booking Holdings *

      9,150       17,711,563  

Dollar General

      83,525       20,750,116  

Home Depot

      105,729       31,818,085  

TJX

      179,310       10,966,600  
    

 

 

  
             170,917,940  
    

 

 

  

CONSUMER STAPLES — 3.5%

     

Costco Wholesale

      34,851       18,864,846  

Mondelez International, Cl A

      253,348       16,224,406  

PepsiCo

      111,391       19,488,970  
    

 

 

  
       54,578,222  
    

 

 

  

ENERGY — 4.1%

     

Chevron

      112,308       18,393,804  

ConocoPhillips

      134,921       13,145,353  

Pioneer Natural Resources

      137,062       32,476,841  
    

 

 

  
       64,015,998  
    

 

 

  

FINANCIALS — 12.9%

     

BlackRock, Cl A

      21,255       14,223,421  

Blackstone, Cl A

      279,877       28,567,045  

Charles Schwab

      448,880       30,995,164  

CME Group, Cl A

      55,434       11,057,974  

Intercontinental Exchange

      139,889       14,267,279  

JPMorgan Chase

      145,267       16,758,001  

PNC Financial Services Group

      141,065       23,408,326  

S&P Global

      79,857       30,100,499  

SVB Financial Group *

      28,365       11,446,696  

US Bancorp

      440,078       20,771,682  
    

 

 

  
       201,596,087  
    

 

 

  

HEALTH CARE — 14.3%

     

Abbott Laboratories

      185,214       20,158,692  

AstraZeneca PLC ADR

      441,793       29,259,950  

 

1

THE ADVISORS’ INNER CIRCLE FUND      

CIBC ATLAS DISCIPLINED EQUITY FUND        

JULY 31, 2022 (Unaudited)

 

 

 

COMMON STOCK** (continued)

            Shares             Value  
  

 

 

    

 

 

  

HEALTH CARE (continued)

     

Danaher

      120,920     $ 35,244,552  

IQVIA Holdings *

      73,261       17,602,420  

Stryker

      93,292       20,034,457  

Thermo Fisher Scientific

      46,750       27,975,668  

UnitedHealth Group

      102,620       55,654,931  

Zoetis, Cl A

      102,790       18,764,315  
    

 

 

  
             224,694,985  
    

 

 

  

INDUSTRIALS — 7.3%

     

Honeywell International

      182,348       35,094,696  

Otis Worldwide

      265,623       20,763,750  

Raytheon Technologies

      359,797       33,536,678  

Stanley Black & Decker

      15,074       1,467,153  

Union Pacific

      104,742       23,807,857  
    

 

 

  
       114,670,134  
    

 

 

  

INFORMATION TECHNOLOGY — 28.3%

     

Adobe *

      51,431       21,092,882  

Analog Devices

      132,459       22,777,650  

Apple

      353,916       57,514,889  

Automatic Data Processing

      53,126       12,809,741  

Cisco Systems

      596,899       27,081,308  

Fidelity National Information Services

      189,206       19,329,285  

Fiserv *

      177,164       18,722,692  

Microsoft

      397,803       111,679,214  

QUALCOMM

      149,315       21,659,634  

Roper Technologies

      58,139       25,387,557  

Salesforce *

      157,915       29,059,518  

TE Connectivity

      169,780       22,704,679  

Visa, Cl A

      252,438       53,544,624  
    

 

 

  
       443,363,673  
    

 

 

  

MATERIALS — 2.8%

     

Linde PLC

      90,601       27,361,502  

Martin Marietta Materials

      46,504       16,373,128  
    

 

 

  
       43,734,630  
    

 

 

  

REAL ESTATE — 1.3%

     

American Tower, Cl A ‡

      76,411       20,694,391  
    

 

 

  

UTILITIES — 3.0%

     

American Water Works

      56,926       8,848,577  

 

2

THE ADVISORS’ INNER CIRCLE FUND      

CIBC ATLAS DISCIPLINED EQUITY FUND        

JULY 31, 2022 (Unaudited)

 

 

 

COMMON STOCK** (continued)

            Shares             Value  
  

 

 

    

 

 

  

UTILITIES (continued)

     

NextEra Energy

      452,910     $ 38,266,366  
    

 

 

  
       47,114,943  
    

 

 

  

TOTAL COMMON STOCK
(Cost $797,731,777)

        1,536,485,929  
    

 

 

  

    

     

CASH EQUIVALENT — 2.2%

     

First American Government Obligations Fund, Cl X, 1.367% (A)

      34,031,717       34,031,717  
    

 

 

  

TOTAL CASH EQUIVALENT
(Cost $34,031,717)

        34,031,717  
    

 

 

  

TOTAL INVESTMENTS — 100.2%
(Cost $831,763,494)

      $   1,570,517,646  
    

 

 

  

Percentages are based on Net Assets of $1,567,987,490.

*

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, 2022.

ADR — American Depositary Receipt

Cl — Class

PLC — Public Limited Company

As of July 31, 2022, 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 information regarding the Fund’s policy regarding valuation of investments and other signifi-cant accounting policies, please refer to the Fund’s most recent semi-annual and annual financial statements.

ATF-QH-001-1800

 

3

THE ADVISORS’ INNER CIRCLE FUND      

CIBC ATLAS MID CAP EQUITY FUND        

JULY 31, 2022 (Unaudited)

 

 

 

SCHEDULE OF INVESTMENTS             

COMMON STOCK** — 97.0%

            Shares             Value  
  

 

 

    

 

 

  

COMMUNICATION SERVICES — 1.0%

     

Liberty Broadband, Cl C *

      26,125     $ 2,845,796  

Live Nation Entertainment *

      46,232       4,345,346  
    

 

 

  
       7,191,142  
    

 

 

  

CONSUMER DISCRETIONARY — 15.1%

     

Aptiv PLC *

      69,200       7,258,388  

AutoZone *

      10,769       23,017,553  

Chipotle Mexican Grill, Cl A *

      8,802       13,768,264  

Domino’s Pizza

      17,698       6,939,563  

Five Below *

      50,565       6,425,295  

Floor & Decor Holdings, Cl A *

      80,249       6,465,662  

Marriott International, Cl A

      55,622       8,833,886  

Planet Fitness, Cl A *

      103,285       8,139,891  

Ross Stores

      64,892       5,273,124  

Tractor Supply

      61,990       11,869,845  

Ulta Beauty *

      26,017       10,118,271  
    

 

 

  
             108,109,742  
    

 

 

  

CONSUMER STAPLES — 3.6%

     

Church & Dwight

      53,281       4,687,130  

Monster Beverage *

      94,202       9,384,403  

Sprouts Farmers Market *

      192,242       5,313,569  

US Foods Holding *

      209,377       6,595,375  
    

 

 

  
       25,980,477  
    

 

 

  

ENERGY — 2.7%

     

Cheniere Energy

      49,481       7,401,368  

Diamondback Energy

      95,138       12,179,567  
    

 

 

  
       19,580,935  
    

 

 

  

FINANCIALS — 5.0%

     

Ameriprise Financial

      57,027       15,392,728  

MSCI, Cl A

      25,095       12,079,227  

Western Alliance Bancorp

      109,184       8,339,474  
    

 

 

  
       35,811,429  
    

 

 

  

HEALTH CARE — 15.3%

     

Align Technology *

      31,650       8,892,701  

Alnylam Pharmaceuticals *

      52,906       7,514,769  

Avantor *

      396,658       11,511,015  

Catalent *

      101,131       11,437,916  

Charles River Laboratories International *

      42,606       10,674,507  

 

4

THE ADVISORS’ INNER CIRCLE FUND      

CIBC ATLAS MID CAP EQUITY FUND        

JULY 31, 2022 (Unaudited)

 

 

 

COMMON STOCK** (continued)

            Shares             Value  
  

 

 

    

 

 

  

HEALTH CARE (continued)

     

Edwards Lifesciences *

      66,859     $ 6,722,004  

Humana

      20,601       9,929,682  

ICON PLC *

      42,419       10,233,584  

ResMed

      51,408       12,364,652  

Tandem Diabetes Care *

      62,739       4,153,949  

Teleflex

      22,848       5,494,030  

Veeva Systems, Cl A *

      47,528       10,626,310  
    

 

 

  
             109,555,119  
    

 

 

  

INDUSTRIALS — 14.3%

     

AMETEK

      73,601       9,089,723  

AZEK, Cl A *

      127,537       2,637,465  

Cintas

      17,042       7,251,201  

CoStar Group *

      81,467       5,913,690  

Howmet Aerospace

      207,599       7,708,151  

Hubbell, Cl B

      33,242       7,280,663  

IAA *

      114,053       4,303,220  

IDEX

      46,258       9,656,357  

Ingersoll Rand

      174,357       8,682,979  

Masco

      114,802       6,357,735  

Oshkosh

      53,000       4,563,300  

Pentair PLC

      56,933       2,783,454  

Regal Rexnord

      51,408       6,904,094  

TransUnion

      95,606       7,574,863  

Waste Connections

      52,140       6,953,912  

Zurn Elkay Water Solutions

      157,127       4,548,827  
    

 

 

  
       102,209,634  
    

 

 

  

INFORMATION TECHNOLOGY — 32.8%

     

Amphenol, Cl A

      185,969       14,343,789  

ANSYS *

      39,235       10,946,173  

Avalara *

      38,392       3,356,229  

Cadence Design Systems *

      103,191       19,201,781  

CDW

      63,488       11,524,977  

Crowdstrike Holdings, Cl A *

      58,411       10,724,260  

Dynatrace *

      143,831       5,412,360  

Enphase Energy *

      67,889       19,292,696  

Entegris

      95,700       10,517,430  

EPAM Systems *

      37,830       13,212,127  

FleetCor Technologies *

      37,081       8,161,157  

Genpact

      142,332       6,843,323  

Global Payments

      86,898       10,629,363  

Keysight Technologies *

      87,179       14,175,305  

 

5

THE ADVISORS’ INNER CIRCLE FUND      

CIBC ATLAS MID CAP EQUITY FUND        

JULY 31, 2022 (Unaudited)

 

 

 

COMMON STOCK** (continued)

            Shares             Value  
  

 

 

    

 

 

  

INFORMATION TECHNOLOGY (continued)

     

KLA

      15,547     $ 5,962,896  

Marvell Technology

      112,872       6,284,713  

Microchip Technology

      223,237       15,372,100  

Palo Alto Networks *

      34,459       17,198,487  

Roper Technologies

      28,654       12,512,342  

Synopsys *

      44,104       16,208,220  

Twilio, Cl A *

      42,512       3,605,018  
    

 

 

  
             235,484,746  
    

 

 

  

MATERIALS — 4.9%

     

Ashland

      44,573       4,478,249  

Berry Global Group *

      118,361       6,823,512  

Crown Holdings

      100,756       10,244,870  

FMC

      76,129       8,457,932  

Livent *

      210,409       5,237,080  
    

 

 

  
       35,241,643  
    

 

 

  

REAL ESTATE — 2.3%

     

SBA Communications, Cl A ‡

      49,723       16,696,486  
    

 

 

  

TOTAL COMMON STOCK
(Cost $460,102,144)

        695,861,353  
    

 

 

  

    

     

CASH EQUIVALENT – 3.0%

     

First American Government Obligations Fund, Cl X, 1.367% (A)

      21,568,553       21,568,553  
    

 

 

  

TOTAL CASH EQUIVALENT
(Cost $21,568,553)

        21,568,553  
    

 

 

  

TOTAL INVESTMENTS – 100.0%
(Cost $481,670,697)

      $ 717,429,906  
    

 

 

  

Percentages are based on Net Assets of $717,129,898.

*

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, 2022.

Cl — Class

PLC — Public Limited Company

 

6

THE ADVISORS’ INNER CIRCLE FUND      

CIBC ATLAS MID CAP EQUITY FUND        

JULY 31, 2022 (Unaudited)

 

 

 

As of July 31, 2022, 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 information regarding the Fund’s policy regarding valuation of investments and other signifi-cant accounting policies, please refer to the Fund’s most recent semi-annual and annual financial statements.

ATF-QH-002-1700

 

7

THE ADVISORS’ INNER CIRCLE FUND      

CIBC ATLAS INCOME OPPORTUNITIES FUND        

JULY 31, 2022 (Unaudited)

 

 

 

SCHEDULE OF INVESTMENTS             

COMMON STOCK – 67.6%

            Shares             Value  
  

 

 

    

 

 

  

COMMUNICATION SERVICES — 2.2%

     

Alphabet, Cl A * (A)

      103,500     $ 12,039,120  

Walt Disney * (A)

      25,400       2,694,940  
    

 

 

  
       14,734,060  
    

 

 

  

CONSUMER DISCRETIONARY — 5.9%

     

Amazon.com * (A)

      114,360       15,432,882  

Home Depot

      36,795       11,073,088  

Service International

      50,378       3,751,146  

Vail Resorts

      25,295       5,998,203  

VF

      55,269       2,469,419  
    

 

 

  
             38,724,738  
    

 

 

  

CONSUMER STAPLES — 3.9%

     

Costco Wholesale

      9,660       5,228,958  

PepsiCo

      62,231       10,887,936  

Procter & Gamble

      68,075       9,456,298  
    

 

 

  
       25,573,192  
    

 

 

  

ENERGY — 3.3%

     

Chevron

      78,148       12,799,079  

Pioneer Natural Resources

      36,650       8,684,218  
    

 

 

  
       21,483,297  
    

 

 

  

FINANCIALS — 9.0%

     

Ares Capital

      326,422       6,329,323  

Ares Management, Cl A

      92,130       6,601,114  

Blue Owl Capital, Cl A

      310,600       3,543,946  

CME Group, Cl A

      29,234       5,831,598  

Golub Capital BDC

      402,350       5,648,994  

Hannon Armstrong Sustainable Infrastructure Capital ‡

      95,590       3,449,843  

JPMorgan Chase

      100,196       11,558,611  

S&P Global

      19,005       7,163,555  

US Bancorp

      187,982       8,872,750  
    

 

 

  
       58,999,734  
    

 

 

  

HEALTH CARE — 5.6%

     

Johnson & Johnson

      50,985       8,897,902  

Medtronic PLC

      47,500       4,394,700  

Novartis ADR

      69,438       5,959,863  

UnitedHealth Group

      31,728       17,207,364  
    

 

 

  
       36,459,829  
    

 

 

  

 

8

THE ADVISORS’ INNER CIRCLE FUND      

CIBC ATLAS INCOME OPPORTUNITIES FUND        

JULY 31, 2022 (Unaudited)

 

 

 

COMMON STOCK (continued)

            Shares             Value  
  

 

 

    

 

 

  

INDUSTRIALS — 8.2%

     

IDEX

      36,625     $ 7,645,469  

Lockheed Martin

      24,964       10,330,353  

Republic Services, Cl A

      72,900       10,108,314  

Rollins

      149,250       5,756,572  

Triton International

      55,003       3,524,592  

Union Pacific

      37,522       8,528,751  

United Parcel Service, Cl B

      42,892       8,359,222  
    

 

 

  
       54,253,273  
    

 

 

  

INFORMATION TECHNOLOGY — 20.9%

     

Adobe * (A)

      4,900       2,009,588  

Apple

      175,690       28,551,382  

Automatic Data Processing

      28,847       6,955,588  

Broadcom

      24,064       12,885,791  

Cisco Systems

      142,199       6,451,569  

Fidelity National Information Services (A)

      136,500       13,944,840  

Microchip Technology

      140,036       9,642,879  

Microsoft

      120,583       33,852,471  

PayPal Holdings *

      14,900       1,289,297  

QUALCOMM

      72,015       10,446,496  

Visa, Cl A

      52,562       11,148,926  
    

 

 

  
             137,178,827  
    

 

 

  

MATERIALS — 2.9%

     

Linde PLC

      41,436       12,513,672  

Scotts Miracle-Gro, Cl A

      72,335       6,434,198  
    

 

 

  
       18,947,870  
    

 

 

  

REAL ESTATE — 3.4%

     

Crown Castle ‡

      32,978       5,957,805  

Invitation Homes ‡

      134,357       5,243,954  

Prologis ‡

      25,200       3,340,512  

VICI Properties ‡

      144,626       4,944,763  

Weyerhaeuser ‡

      85,884       3,119,307  
    

 

 

  
       22,606,341  
    

 

 

  

UTILITIES — 2.3%

     

American Water Works

      18,376       2,856,365  

NextEra Energy (A)

      149,010       12,589,855  
    

 

 

  
       15,446,220  
    

 

 

  

TOTAL COMMON STOCK
(Cost $295,919,856)

        444,407,381  
    

 

 

  

 

9

THE ADVISORS’ INNER CIRCLE FUND      

CIBC ATLAS INCOME OPPORTUNITIES FUND        

JULY 31, 2022 (Unaudited)

 

 

 

CORPORATE OBLIGATIONS — 18.0%

      Face Amount         Value  
  

 

 

    

 

 

  

COMMUNICATION SERVICES — 2.8%

     

Comcast
2.937%, 11/01/56

    $ 6,111,000     $ 4,458,479  

Diamond Sports Group
5.375%, 08/15/26(B)

      4,500,000       990,000  

Discovery Communications
3.800%, 03/13/24

      3,150,000       3,138,250  

Level 3 Financing
5.250%, 03/15/26

      2,000,000       1,980,000  

Magallanes
3.428%, 03/15/24(B)

      1,000,000       984,480  

T-Mobile USA
3.500%, 04/15/31

      5,000,000       4,623,500  

Verizon Communications
2.355%, 03/15/32

      2,441,000       2,108,249  
    

 

 

  
             18,282,958  
    

 

 

  

CONSUMER DISCRETIONARY — 2.5%

     

Amazon.com
3.150%, 08/22/27

      3,300,000       3,299,626  

Ford Motor Credit
3.350%, 11/01/22

      5,000,000       4,986,350  

Meritage Homes
3.875%, 04/15/29(B)

      3,000,000       2,643,038  

Newell Brands
4.100%, 04/01/23

      4,849,000       4,834,962  

Tenneco
5.375%, 12/15/24

      630,000       615,277  
    

 

 

  
       16,379,253  
    

 

 

  

ENERGY – 1.7%

     

Cheniere Energy Partners
4.500%, 10/01/29

      5,000,000       4,844,175  

DCP Midstream Operating
6.750%, 09/15/37(B)

      1,500,000       1,485,000  

Kinder Morgan MTN
7.800%, 08/01/31

      1,400,000       1,665,391  

Sabine Pass Liquefaction
5.750%, 05/15/24

      1,250,000       1,275,779  

5.625%, 03/01/25

      2,000,000       2,056,094  
    

 

 

  
       11,326,439  
    

 

 

  

 

10

THE ADVISORS’ INNER CIRCLE FUND      

CIBC ATLAS INCOME OPPORTUNITIES FUND        

JULY 31, 2022 (Unaudited)

 

 

 

CORPORATE OBLIGATIONS (continued)

      Face Amount         Value  
  

 

 

    

 

 

  

FINANCIALS — 5.2%

     

Ally Financial
2.200%, 11/02/28

    $ 5,000,000     $ 4,252,850  

Ares Capital
3.875%, 01/15/26

      5,000,000       4,706,189  

Bank of America
5.200%, ICE LIBOR USD 3 Month + 3.135%(C)(D)

      2,000,000       1,916,442  

3.950%, 04/21/25

      5,750,000       5,753,172  

Goldman Sachs Group
4.543%, ICE LIBOR USD 3 Month + 1.750%, 10/28/27(C)

      3,000,000       2,979,152  

1.217%, 12/06/23

      2,500,000       2,423,719  

JPMorgan Chase
6.000%, ICE LIBOR USD 3 Month + 3.300%(C)(D)

      1,500,000       1,457,668  

5.000%, U.S. SOFR + 3.380%(C)(D)

      2,000,000       1,857,955  

4.625%, ICE LIBOR USD 3 Month + 2.580%(C)(D)

      1,000,000       922,258  

OneMain Finance
3.500%, 01/15/27

      3,000,000       2,554,326  

PNC Financial Services Group
6.460%, ICE LIBOR USD 3 Month + 3.678%(C)(D)

      2,500,000       2,478,582  

Wells Fargo MTN
4.100%, 06/03/26

      3,000,000       3,009,466  
    

 

 

  
             34,311,779  
    

 

 

  

HEALTH CARE — 1.5%

     

AbbVie
4.250%, 11/21/49

      3,500,000       3,286,854  

Fresenius US Finance II
4.500%, 01/15/23(B)

      2,000,000       1,995,977  

HCA
5.375%, 02/01/25

      3,050,000       3,111,083  

5.000%, 03/15/24

      1,250,000       1,268,095  
    

 

 

  
       9,662,009  
    

 

 

  

INDUSTRIALS — 0.8%

     

Northrop Grumman
4.030%, 10/15/47

      2,000,000       1,877,235  

Quanta Services
2.900%, 10/01/30

      3,750,000       3,235,474  
    

 

 

  
       5,112,709  
    

 

 

  

INFORMATION TECHNOLOGY — 2.3%

     

Apple
3.850%, 08/04/46

      3,000,000       2,889,964  

 

11

THE ADVISORS’ INNER CIRCLE FUND      

CIBC ATLAS INCOME OPPORTUNITIES FUND        

JULY 31, 2022 (Unaudited)

 

 

 

CORPORATE OBLIGATIONS (continued)

      Face Amount         Value  
  

 

 

    

 

 

  

INFORMATION TECHNOLOGY (continued)

     

Broadcom
3.469%, 04/15/34(B)

    $ 2,500,000     $ 2,139,458  

CommScope Technologies
6.000%, 06/15/25(B)

      1,734,000       1,603,950  

Kyndryl Holdings
2.050%, 10/15/26(B)

      1,000,000       844,600  

Salesforce
3.700%, 04/11/28

      3,000,000       3,072,218  

Western Union
2.850%, 01/10/25

      4,500,000       4,388,518  
    

 

 

  
       14,938,708  
    

 

 

  

MATERIALS — 0.3%

     

NOVA Chemicals
5.000%, 05/01/25(B)

      2,000,000       1,955,720  
    

 

 

  

REAL ESTATE — 0.9%

     

Boston Properties
2.750%, 10/01/26

      1,000,000       948,509  

Equinix
3.000%, 07/15/50

      3,000,000       2,127,070  

VICI Properties
5.125%, 05/15/32

      3,000,000       2,981,430  
    

 

 

  
       6,057,009  
    

 

 

  

TOTAL CORPORATE OBLIGATIONS
(Cost $130,187,234)

              118,026,584  
    

 

 

  

    

     

U.S. TREASURY OBLIGATIONS — 7.1%

     

U.S. Treasury Bonds
3.000%, 02/15/48

      10,000,000       9,619,922  

2.500%, 02/15/45

      10,000,000       8,669,531  
    

 

 

  
       18,289,453  
    

 

 

  

U.S. Treasury Inflation Protected Securities
0.500%, 01/15/28

      11,849,900       12,156,331  
    

 

 

  

 

12

THE ADVISORS’ INNER CIRCLE FUND      

CIBC ATLAS INCOME OPPORTUNITIES FUND        

JULY 31, 2022 (Unaudited)

 

 

 

U.S. TREASURY OBLIGATIONS (continued)

      Face Amount         Value  
  

 

 

    

 

 

  

U.S. Treasury Notes
2.000%, 08/15/25

    $ 7,500,000     $ 7,317,481  

1.625%, 05/15/31

      10,000,000       9,201,953  
    

 

 

  
       16,519,434  
    

 

 

  

TOTAL U.S. TREASURY OBLIGATIONS
(Cost $49,074,126)

        46,965,218  
    

 

 

  

    

     
EXCHANGE TRADED FUNDS — 1.7%    Shares        

iShares National Muni Bond ETF

      53,290       5,785,695  

Nuveen AMT-Free Quality Municipal Income Fund, Cl Institutional

      409,191       5,204,910  
    

 

 

  

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

        10,990,605  
    

 

 

  

    

     

PREFERRED STOCK — 0.3%

     

FINANCIALS — 0.3%

     

Wells Fargo, 7.500%

      1,700       2,157,300  
    

 

 

  

TOTAL PREFERRED STOCK
(Cost $2,066,538)

        2,157,300  
    

 

 

  

    

     

CASH EQUIVALENT — 5.0%

     

First American Government Obligations Fund, Cl X, 1.367% (E)

      32,949,363       32,949,363  
    

 

 

  

TOTAL CASH EQUIVALENT
(Cost $32,949,363)

        32,949,363  
    

 

 

  

TOTAL INVESTMENTS — 99.7%
(Cost $521,130,575)

      $   655,496,451  
    

 

 

  

    

     

WRITTEN OPTIONS — (0.1%)

      Contracts       Value  
  

 

 

    

 

 

  

TOTAL WRITTEN OPTIONS — (0.1%)
(Premiums Received $212,177)

      (1,725 )    $ (335,494 ) 
    

 

 

  

 

13

THE ADVISORS’ INNER CIRCLE FUND      

CIBC ATLAS INCOME OPPORTUNITIES FUND        

JULY 31, 2022 (Unaudited)

 

 

 

A list of the exchange traded option contracts held by the Fund at July 31, 2022, is as follows:

 

Description                                 

        Contracts         Notional Amount   Exercise
Price		      Expiration
Date		          Value    

WRITTEN OPTIONS — (0.1%)

 

          

Call Options

             

Adobe*

      (49 )     $ (2,009,588 )    $ 425        09/17/22        $ (78,498 ) 

Fidelity National Information Services*

      (682 )      (6,967,312 )      105        08/20/22        (170,500 ) 

NextEra Energy*

      (740 )      (6,252,260 )      90        08/20/22        (29,600 ) 

Walt Disney*

      (254 )      (2,694,940 )       110        08/20/22        (56,896 )  
    

 

 

 

        

 

 

 

Total Written Options

       $       (17,924,100 )            $  (335,494 ) 
    

 

 

 

        

 

 

 

Percentages are based on Net Assets of $657,179,310.

*

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, 2022 was $14,642,223 which represents 2.2% of Net Assets.

(C)

Variable or floating rate security. The rate shown is the effective interest rate as of period end. The rates for certain securities are not based on published reference rates and spreads and are either determined by the issuer or agent based on current market conditions; by using a formula based on the rates of underlying loans; or by adjusting periodically based on prevailing interest rates.

(D)

Perpetual security with no stated maturity date.

(E)

The rate reported is the 7-day effective yield as of July 31, 2022.

ADR — American Depositary Receipt

BDC — Business Development Company

Cl — Class

ETF — Exchange Traded Fund

ICE — Intercontinental Exchange

LIBOR— London Interbank Offered Rate

MTN — Medium Term Note

PLC — Public Limited Company

SOFR— Secured Overnight Financing Rate

USD — U.S. Dollar

 

14

THE ADVISORS’ INNER CIRCLE FUND      

CIBC ATLAS INCOME OPPORTUNITIES FUND        

JULY 31, 2022 (Unaudited)

 

 

 

The following is a summary of the level of inputs used as of July 31, 2022, in valuing the Fund’s investments and other financial instruments carried at value:

 

         
Investments in Securities    Level 1      Level 2      Level 3      Total  

Common Stock

    $ 444,407,381      $ —      $ —      $ 444,407,381   

Corporate Obligations

      —        118,026,584        —        118,026,584   

U.S. Treasury Obligations

      —        46,965,218        —        46,965,218   

Exchange Traded Funds

      10,990,605        —        —        10,990,605   

Preferred Stock

      2,157,300        —        —        2,157,300   

Cash Equivalent

      32,949,363        —        —        32,949,363   
  

 

 

     

 

 

     

 

 

     

 

 

  

Total Investments in Securities

    $   490,504,649      $   164,991,802      $ —      $   655,496,451   
  

 

 

     

 

 

     

 

 

     

 

 

  

    

            
         
Other Financial Instruments    Level 1      Level 2      Level 3      Total  

Written Options

    $ (335,494)      $ —      $ —      $ (335,494)   
  

 

 

     

 

 

     

 

 

     

 

 

  

Total Other Financial Instruments

    $ (335,494)      $ —      $                     —      $ (335,494)   
  

 

 

     

 

 

     

 

 

     

 

 

  

For information regarding the Fund’s policy regarding valuation of investments and other signifi-cant accounting policies, please refer to the Fund’s most recent semi-annual and annual financial statements.

ATF-QH-003-1700

 

15

THE ADVISORS’ INNER CIRCLE FUND      

CIBC ATLAS ALL CAP GROWTH FUND        

JULY 31, 2022 (Unaudited)

 

 

 

SCHEDULE OF INVESTMENTS             

COMMON STOCK** — 95.4%

            Shares             Value  
  

 

 

    

 

 

  

COMMUNICATION SERVICES — 3.1%

     

Alphabet, Cl A *

      30,080     $ 3,498,906  

Live Nation Entertainment *

      37,142       3,490,976  
    

 

 

  
       6,989,882  
    

 

 

  

CONSUMER DISCRETIONARY — 8.7%

     

Amazon.com *

      86,573       11,683,026  

Chipotle Mexican Grill, Cl A *

      3,248       5,080,587  

Ulta Beauty *

      7,902       3,073,167  
    

 

 

  
       19,836,780  
    

 

 

  

CONSUMER STAPLES — 1.5%

     

Costco Wholesale

      6,197       3,354,436  
    

 

 

  

ENERGY — 2.3%

     

Devon Energy

      30,406       1,911,017  

EOG Resources

      31,031       3,451,268  
    

 

 

  
       5,362,285  
    

 

 

  

FINANCIALS — 15.2%

     

Blackstone, Cl A

      70,094       7,154,495  

Brown & Brown

      143,281       9,327,593  

Charles Schwab

      74,454       5,141,049  

Goldman Sachs Group

      7,606       2,535,764  

S&P Global

      22,873       8,621,520  

Tradeweb Markets, Cl A

      24,029       1,694,525  
    

 

 

  
       34,474,946  
    

 

 

  

HEALTH CARE — 21.4%

     

AstraZeneca PLC ADR

      138,297       9,159,410  

Danaher

      13,912       4,054,931  

Edwards Lifesciences *

      82,362       8,280,675  

Elevance Health

      11,672       5,568,711  

Eli Lilly

      22,481       7,411,761  

IDEXX Laboratories *

      9,516       3,798,597  

Intuitive Surgical *

      22,468       5,171,460  

Zoetis, Cl A

      26,622       4,859,846  
    

 

 

  
             48,305,391  
    

 

 

  

INDUSTRIALS — 8.5%

     

Cintas

      10,056       4,278,728  

CoStar Group *

      28,473       2,066,855  

L3Harris Technologies

      20,231       4,854,833  

 

16

THE ADVISORS’ INNER CIRCLE FUND      

CIBC ATLAS ALL CAP GROWTH FUND        

JULY 31, 2022 (Unaudited)

 

 

 

COMMON STOCK** (continued)

            Shares             Value  
  

 

 

    

 

 

  

INDUSTRIALS (continued)

     

Middleby *

      14,318     $ 2,071,672  

Robert Half International

      32,560       2,576,798  

Waste Management

      20,706       3,407,379  
    

 

 

  
       19,256,265  
    

 

 

  

INFORMATION TECHNOLOGY — 27.8%

     

Adobe *

      8,257       3,386,361  

Amphenol, Cl A

      50,546       3,898,613  

Apple

      15,326       2,490,628  

CDW

      19,137       3,473,940  

Entegris

      47,185       5,185,631  

EPAM Systems *

      5,589       1,951,958  

Gartner *

      6,564       1,742,611  

Intuit

      9,986       4,555,314  

Mastercard, Cl A

      27,607       9,767,080  

Microsoft

      19,819       5,563,986  

NVIDIA

      10,424       1,893,311  

Palo Alto Networks *

      20,749       10,355,826  

Roper Technologies

      12,877       5,623,000  

ServiceNow *

      5,086       2,271,713  

Snowflake, Cl A *

      5,827       873,525  
    

 

 

  
       63,033,497  
    

 

 

  

MATERIALS — 5.8%

     

Martin Marietta Materials

      23,056       8,117,557  

Sherwin-Williams

      20,583       4,979,851  
    

 

 

  
             13,097,408  
    

 

 

  

REAL ESTATE — 1.1%

     

SBA Communications, Cl A ‡

      7,431       2,495,255  
    

 

 

  

TOTAL COMMON STOCK
(Cost $153,102,334)

        216,206,145  
    

 

 

  

    

     

CASH EQUIVALENT — 4.6%

     

First American Government Obligations Fund, Cl X, 1.367% (A)

      10,526,489       10,526,489  
    

 

 

  

TOTAL CASH EQUIVALENT
(Cost $10,526,489)

        10,526,489  
    

 

 

  

TOTAL INVESTMENTS — 100.0%
(Cost $163,628,823)

      $ 226,732,634  
    

 

 

  

 

17

THE ADVISORS’ INNER CIRCLE FUND      

CIBC ATLAS ALL CAP GROWTH FUND        

JULY 31, 2022 (Unaudited)

 

 

 

Percentages are based on Net Assets of $226,726,329.

*

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, 2022.

ADR — American Depositary Receipt

Cl — Class

PLC — Public Limited Company

As of July 31, 2022, 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 information regarding the Fund’s policy regarding valuation of investments and other signifi-cant accounting policies, please refer to the Fund’s most recent semi-annual and annual financial statements.

ATF-QH-005-0800

 

18

THE ADVISORS’ INNER CIRCLE FUND      

CIBC ATLAS EQUITY INCOME FUND        

JULY 31, 2022 (Unaudited)

 

 

 

SCHEDULE OF INVESTMENTS             

COMMON STOCK — 95.2%

            Shares             Value  
  

 

 

    

 

 

  

COMMUNICATION SERVICES — 1.2%

     

Comcast, Cl A

      96,857     $ 3,634,075  
    

 

 

  

CONSUMER DISCRETIONARY — 2.1%

     

Dick’s Sporting Goods

      32,562       3,047,477  

Home Depot

      9,707       2,921,225  
    

 

 

  
       5,968,702  
    

 

 

  

ENERGY — 7.7%

     

Enterprise Products Partners

      481,430       12,868,624  

EOG Resources

      19,438       2,161,894  

Magellan Midstream Partners

      143,115       7,370,423  
    

 

 

  
       22,400,941  
    

 

 

  

FINANCIALS — 15.1%

     

Blackstone, Cl A

      118,879       12,133,979  

Brookfield Asset Management, Cl A

      117,851       5,851,302  

Charles Schwab

      91,938       6,348,319  

CME Group, Cl A

      42,425       8,462,939  

Goldman Sachs Group

      6,682       2,227,712  

JPMorgan Chase

      46,849       5,404,501  

Morgan Stanley

      43,171       3,639,315  
    

 

 

  
       44,068,067  
    

 

 

  

HEALTH CARE — 19.4%

     

Abbott Laboratories

      99,011       10,776,357  

AbbVie

      24,214       3,474,951  

AstraZeneca PLC ADR

      162,642       10,771,779  

Elevance Health

      27,827       13,276,262  

Eli Lilly

      15,677       5,168,550  

Johnson & Johnson

      37,849       6,605,407  

Medtronic PLC

      40,634       3,759,458  

Merck

      27,331       2,441,752  
    

 

 

  
             56,274,516  
    

 

 

  

INDUSTRIALS — 10.1%

     

Fastenal

      41,787       2,146,180  

L3Harris Technologies

      49,240       11,816,123  

Robert Half International

      81,685       6,464,551  

Union Pacific

      21,238       4,827,398  

Waste Management

      25,604       4,213,394  
    

 

 

  
       29,467,646  
    

 

 

  

 

19

THE ADVISORS’ INNER CIRCLE FUND      

CIBC ATLAS EQUITY INCOME FUND        

JULY 31, 2022 (Unaudited)

 

 

 

COMMON STOCK (continued)

            Shares             Value  
  

 

 

    

 

 

  

INFORMATION TECHNOLOGY — 17.3%

     

Accenture PLC, Cl A

      14,678     $ 4,495,284  

Apple

      62,798       10,205,303  

Broadridge Financial Solutions

      34,908       5,604,479  

Fidelity National Information Services

      51,278       5,238,561  

International Business Machines

      14,596       1,909,011  

Microchip Technology

      49,620       3,416,833  

Microsoft

      45,276       12,710,784  

Texas Instruments

      37,339       6,679,574  
    

 

 

  
             50,259,829  
    

 

 

  

REAL ESTATE — 11.7%

     

American Tower, Cl A ‡

      41,273       11,177,967  

Camden Property Trust ‡

      31,129       4,392,302  

Equinix ‡

      6,180       4,349,113  

Iron Mountain ‡

      81,806       3,966,773  

Prologis ‡

      15,893       2,106,776  

VICI Properties ‡

      231,275       7,907,292  
    

 

 

  
       33,900,223  
    

 

 

  

UTILITIES — 10.6%

     

Brookfield Infrastructure Partners

      221,113       8,806,931  

Brookfield Renewable Partners

      278,771       10,523,605  

NextEra Energy

      55,381       4,679,141  

NextEra Energy Partners

      57,622       4,767,644  

Xcel Energy

      28,596       2,092,655  
    

 

 

  
       30,869,976  
    

 

 

  

TOTAL COMMON STOCK
(Cost $202,335,799)

        276,843,975  
    

 

 

  

    

     

CASH EQUIVALENT — 4.6%

     

First American Government Obligations Fund, Cl X, 1.367% (A)

      13,457,001       13,457,001  
    

 

 

  

TOTAL CASH EQUIVALENT
(Cost $13,457,001)

        13,457,001  
    

 

 

  

TOTAL INVESTMENTS — 99.8%
(Cost $215,792,800)

      $ 290,300,976  
    

 

 

  

 

20

THE ADVISORS’ INNER CIRCLE FUND      

CIBC ATLAS EQUITY INCOME FUND        

JULY 31, 2022 (Unaudited)

 

 

 

Percentages are based on Net Assets of $290,837,155.

‡

Real Estate Investment Trust

(A)

The rate reported is the 7-day effective yield as of July 31, 2022.

ADR — American Depositary Receipt

Cl — Class

PLC — Public Limited Company

As of July 31, 2022, 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 information regarding the Fund’s policy regarding valuation of investments and other signifi-cant accounting policies, please refer to the Fund’s most recent semi-annual and annual financial statements.

ATF-QH-006-0800

 

21

THE ADVISORS’ INNER CIRCLE FUND      

CIBC ATLAS INTERNATIONAL GROWTH FUND        

JULY 31, 2022 (Unaudited)

 

 

 

SCHEDULE OF INVESTMENTS              

COMMON STOCK — 98.6%

            Shares              Value  
  

 

 

     

 

 

  

AUSTRALIA — 3.2%

      

BHP Group

      317,850      $ 8,698,075  

Woodside Energy Group

      166,100        3,750,616  
     

 

 

  
        12,448,691  
     

 

 

  

BRAZIL — 1.3%

      

MercadoLibre *

      6,314        5,137,765  
     

 

 

  

CANADA — 5.7%

      

Brookfield Asset Management, Cl A

      120,018        5,958,894  

Canadian National Railway

      56,250        7,125,750  

Ritchie Bros Auctioneers

      122,928        8,859,421  
     

 

 

  
        21,944,065  
     

 

 

  

CHINA — 8.6%

      

Alibaba Group Holding ADR *

      76,835        6,866,744  

GDS Holdings, Cl A *

      810,000        2,774,391  

Tencent Holdings

      244,000        9,430,310  

Wuxi Biologics Cayman *

      550,000        5,264,665  

Yum China Holdings

      178,430        8,691,325  
     

 

 

  
              33,027,435  
     

 

 

  

DENMARK — 1.4%

      

Vestas Wind Systems

      202,343        5,318,332  
     

 

 

  

FRANCE — 7.7%

      

Air Liquide

      60,865        8,367,830  

Airbus

      49,365        5,322,596  

LVMH Moet Hennessy Louis Vuitton

      13,986        9,711,204  

Ubisoft Entertainment *

      149,417        6,361,315  
     

 

 

  
        29,762,945  
     

 

 

  

GERMANY — 6.4%

      

Continental

      79,305        5,649,762  

HeidelbergCement

      98,108        4,997,311  

Siemens

      55,187        6,155,756  

Symrise, Cl A

      68,879        8,037,156  
     

 

 

  
        24,839,985  
     

 

 

  

HONG KONG — 2.5%

      

AIA Group

      978,500        9,830,648  
     

 

 

  

 

22

THE ADVISORS’ INNER CIRCLE FUND      

CIBC ATLAS INTERNATIONAL GROWTH FUND        

JULY 31, 2022 (Unaudited)

 

 

 

COMMON STOCK (continued)

            Shares              Value  
  

 

 

     

 

 

  

INDIA — 2.9%

      

HDFC Bank ADR

      179,063      $ 11,245,156  
     

 

 

  

IRELAND — 2.3%

      

ICON PLC *

      37,376        9,016,960  
     

 

 

  

JAPAN — 11.8%

      

Daikin Industries

      39,000        6,839,755  

FANUC

      50,000        8,623,030  

Nidec

      84,000        5,837,501  

Sony Group

      84,000        7,125,548  

Sysmex

      89,000        6,231,053  

Tokio Marine Holdings

      94,000        5,502,754  

Toyota Motor

      328,000        5,323,781  
     

 

 

  
              45,483,422  
     

 

 

  

MEXICO — 1.0%

      

Fomento Economico Mexicano ADR

      59,298        3,675,290  
     

 

 

  

NETHERLANDS — 1.8%

      

ASML Holding

      12,023        6,910,290  
     

 

 

  

NORWAY — 2.1%

      

Equinor

      213,079        8,204,375  
     

 

 

  

SINGAPORE — 2.1%

      

DBS Group Holdings

      349,725        7,980,147  
     

 

 

  

SPAIN — 4.5%

      

Amadeus IT Group *

      166,388        9,702,081  

Banco Santander

      2,997,931        7,500,407  
     

 

 

  
        17,202,488  
     

 

 

  

SWEDEN — 3.1%

      

Assa Abloy, Cl B

      287,671        6,796,522  

Hexagon, Cl B

      431,978        5,086,343  
     

 

 

  
        11,882,865  
     

 

 

  

SWITZERLAND — 8.1%

      

Alcon

      108,182        8,514,369  

Chubb

      38,614        7,284,145  

Julius Baer Group

      141,538        7,318,937  

 

23

THE ADVISORS’ INNER CIRCLE FUND      

CIBC ATLAS INTERNATIONAL GROWTH FUND        

JULY 31, 2022 (Unaudited)

 

 

 

COMMON STOCK (continued)

            Shares              Value  
  

 

 

     

 

 

  

SWITZERLAND (continued)

      

Novartis

      94,939      $ 8,158,076  
     

 

 

  
        31,275,527  
     

 

 

  

TAIWAN — 1.7%

      

Taiwan Semiconductor Manufacturing ADR

      73,964        6,544,335  
     

 

 

  

UNITED KINGDOM — 18.8%

      

AstraZeneca PLC

      73,533        9,672,660  

BAE Systems PLC

      1,055,456        9,919,997  

Compass Group PLC

      398,381        9,336,673  

Diageo PLC

      172,076        8,151,590  

InterContinental Hotels Group PLC

      131,579        7,799,389  

Lloyds Banking Group PLC

      18,147,313        10,047,443  

London Stock Exchange Group PLC

      83,126        8,112,519  

Shell PLC

      352,917        9,414,563  
     

 

 

  
        72,454,834  
     

 

 

  

UNITED STATES — 1.6%

      

Euronet Worldwide *

      61,935        6,086,352  
     

 

 

  

TOTAL COMMON STOCK
(Cost $392,927,335)

         380,271,907  
     

 

 

  

    

      

CASH EQUIVALENT — 1.3%

      

First American Government Obligations Fund, Cl X, 1.367% (A)

      5,174,347        5,174,347  
     

 

 

  

TOTAL CASH EQUIVALENT
(Cost $5,174,347)

         5,174,347  
     

 

 

  

TOTAL INVESTMENTS — 99.9%
(Cost $398,101,682)

       $       385,446,254  
     

 

 

  

Percentages are based on Net Assets of $385,839,394.

*

Non-income producing security.

(A)

The rate reported is the 7-day effective yield as of July 31, 2022.

ADR — American Depositary Receipt

Cl — Class

PLC — Public Limited Company

 

24

THE ADVISORS’ INNER CIRCLE FUND      

CIBC ATLAS INTERNATIONAL GROWTH FUND        

JULY 31, 2022 (Unaudited)

 

 

 

The following is a summary of the level of inputs used as of July 31, 2022, in valuing the Fund’s investments carried at value:

 

  
Investments in Securities   Level 1     Level 2     Level 3     Total  

 

  

Common Stock

        

Australia

   $ —     $ 12,448,691     $                     —     $ 12,448,691    

Brazil

     5,137,765       —       —       5,137,765    

Canada

     21,944,065       —       —       21,944,065    

China

     15,558,069       17,469,366       —       33,027,435    

Denmark

     —       5,318,332       —       5,318,332    

France

     —       29,762,945       —       29,762,945    

Germany

     —       24,839,985       —       24,839,985    

Hong Kong

     —       9,830,648       —       9,830,648    

India

     11,245,156       —       —       11,245,156    

Ireland

     9,016,960       —       —       9,016,960    

Japan

     —       45,483,422       —       45,483,422    

Mexico

     3,675,290       —       —       3,675,290    

Netherlands

     —       6,910,290       —       6,910,290    

Norway

     —       8,204,375       —       8,204,375    

Singapore

     —       7,980,147       —       7,980,147    

Spain

     —       17,202,488       —       17,202,488    

Sweden

     —       11,882,865       —       11,882,865    

Switzerland

     7,284,145       23,991,382       —       31,275,527    

Taiwan

     6,544,335       —       —       6,544,335    

United Kingdom

     —       72,454,834       —       72,454,834    

United States

     6,086,352       —       —       6,086,352    
 

 

 

  

Total Common Stock

     86,492,137       293,779,770       —       380,271,907    
 

 

 

  

Cash Equivalent

     5,174,347       —       —       5,174,347    
 

 

 

    

 

 

    

 

 

    

 

 

  

Total Investments in Securities

  $     91,666,484     $     293,779,770     $ —     $   385,446,254    
 

 

 

    

 

 

    

 

 

    

 

 

  
 

 

 

    

 

 

    

 

 

    

 

 

  

For information regarding the Fund’s policy regarding valuation of investments and other signifi-cant accounting policies, please refer to the Fund’s most recent semi-annual and annual financial statements.

ATF-QH-007-0700

 

25