NPORT-EX 2 AIC_RHJ_7.31.2022_SF.htm SCHED F HTML
THE ADVISORS’ INNER CIRCLE FUND   

RHJ MICRO CAP                               

PORTFOLIO

JULY 31, 2022

(Unaudited)

 

 

  SCHEDULE OF INVESTMENTS

 

  COMMON STOCK†† — 97.5%

 

             Shares              Value  

COMMUNICATION SERVICES — 2.1%

      

QuinStreet*

      41,754      $ 448,856  

Thryv Holdings*

      22,000        535,480  
     

 

 

  
        984,336  
     

 

 

  

CONSUMER DISCRETIONARY — 14.5%

      

Chuy’s Holdings*

      23,800        529,074  

Clarus

      32,405        668,191  

Designer Brands, Cl A

      35,100        506,493  

Duluth Holdings, Cl B*

      56,700        546,588  

Funko, Cl A*

      34,300        899,003  

Green Brick Partners*

      30,000        804,000  

Holley*

      56,600        452,234  

Johnson Outdoors, Cl A

      6,224        418,937  

Unifi*

      23,800        324,394  

XPEL*

      8,868        543,520  

Xponential Fitness, Cl A*

      32,400        480,816  

Zumiez*

      20,354        529,204  
     

 

 

  
                  6,702,454  
     

 

 

  

CONSUMER STAPLES — 2.2%

      

elf Beauty*

      17,892        599,919  

Nature’s Sunshine Products*

      41,500        433,675  
     

 

 

  
        1,033,594  
     

 

 

  

ENERGY — 2.9%

      

Clean Energy Fuels*

      80,500        521,640  

DMC Global*

      16,000        364,160  

National Energy Services Reunited*

      61,182        431,333  
     

 

 

  
        1,317,133  
     

 

 

  

FINANCIALS — 5.4%

      

Federal Agricultural Mortgage, Cl C

      5,800        639,682  

Guaranty Bancshares

      14,393        537,866  

QCR Holdings

      15,700        930,853  

Trico Bancshares

      7,500        358,500  
     

 

 

  
        2,466,901  
     

 

 

  

HEALTH CARE — 20.7%

      

Accuray*

      125,711        263,993  

 

1

THE ADVISORS’ INNER CIRCLE FUND   

RHJ MICRO CAP                               

PORTFOLIO

JULY 31, 2022

(Unaudited)

 

 

  COMMON STOCK — continued

 

             Shares              Value  

HEALTH CARE — continued

      

Bioventus, Cl A*

      48,300      $ 410,067  

Cerus*

      101,497        548,084  

Cutera*

      14,700        682,374  

DocGo*

      82,700        639,271  

iRadimed*

      13,438        567,756  

Lantheus Holdings*

      10,715        822,055  

LeMaitre Vascular

      15,204        765,521  

Mesa Laboratories

      2,704        576,628  

OptimizeRx*

      15,100        339,297  

Pennant Group*

      37,800        504,252  

Simulations Plus

      12,400        795,460  

Surmodics*

      15,500        539,400  

U.S. Physical Therapy

      4,528        587,644  

UFP Technologies*

      11,239        904,964  

Utah Medical Products

      6,860        626,592  
     

 

 

  
                  9,573,358  
     

 

 

  

INDUSTRIALS — 25.1%

      

Air Transport Services Group*

      23,528        737,367  

Alamo Group

      4,600        595,286  

Allied Motion Technologies

      21,327        574,549  

CBIZ*

      18,151        828,049  

Construction Partners, Cl A*

      24,721        587,865  

CRA International

      6,096        603,565  

Douglas Dynamics

      18,000        573,480  

Ducommun*

      12,300        582,282  

Energy Recovery*

      41,671        926,346  

Exponent

      6,706        673,886  

Huron Consulting Group*

      12,672        850,291  

Infrastructure and Energy Alternatives*

      51,200        722,944  

Montrose Environmental Group*

      12,547        503,385  

MYR Group*

      5,966        568,142  

Radiant Logistics*

      80,875        586,344  

Shyft Group

      17,677        458,542  

Sterling Infrastructure*

      33,491        861,054  

Vicor*

      4,960        361,882  
     

 

 

  
        11,595,259  
     

 

 

  

 

2

THE ADVISORS’ INNER CIRCLE FUND   

RHJ MICRO CAP                               

PORTFOLIO

JULY 31, 2022

(Unaudited)

 

 

  COMMON STOCK — continued    

 

             Shares              Value  

INFORMATION TECHNOLOGY — 20.6%

      

A10 Networks

      64,500      $ 961,695  

Absolute Software

      72,100        666,925  

ADTRAN Holdings

      43,079        1,037,773  

Axcelis Technologies*

      13,141        924,207  

Cambium Networks*

      12,500        235,625  

CoreCard*

      20,800        495,456  

Harmonic*

      79,577        868,981  

Luna Innovations*

      93,400        604,298  

MagnaChip Semiconductor*

      43,627        665,748  

Model N*

      15,633        392,701  

nLight*

      51,300        628,938  

Perficient*

      8,249        870,434  

Silicon Motion Technology ADR

      6,607        563,643  

Vishay Precision Group*

      19,400        604,892  
     

 

 

  
        9,521,316  
     

 

 

  

MATERIALS — 3.9%

      

American Vanguard

      30,500        714,005  

Haynes International

      16,113        622,929  

Mativ

      20,300        443,555  
     

 

 

  
        1,780,489  
     

 

 

  

TOTAL COMMON STOCK

    (Cost $36,539,776)

         44,974,840  
     

 

 

  
          
  SHORT-TERM INVESTMENT(A) — 2.7%      

First American Government Obligations

    Fund, Cl X , 1.368%

    (Cost $1,242,984)

      1,242,984        1,242,984  
     

 

 

  

TOTAL INVESTMENTS— 100.2%

        (Cost $37,782,760)

       $         46,217,824  
     

 

 

  

Percentages are based on Net Assets of $46,150,364.

*

Non-income producing security

†† 

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

(A)

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

 

3

THE ADVISORS’ INNER CIRCLE FUND   

RHJ MICRO CAP                               

PORTFOLIO

JULY 31, 2022

(Unaudited)

 

 

ADR            American Depositary Receipt
Cl    Class

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 under U.S. generally accepted accounting principles.

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

RHJ-QH-004-2400

 

 

4

THE ADVISORS’ INNER CIRCLE FUND   

RHJ SMALL CAP PORTFOLIO            

JULY 31, 2022 (Unaudited)

 

 

  SCHEDULE OF INVESTMENTS

 

  COMMON STOCK — 97.5%

 

             Shares              Value  

COMMUNICATION SERVICES — 1.1%

      

PubMatic, Cl A*

      10,500      $ 174,195  
     

 

 

  

CONSUMER DISCRETIONARY — 14.5%

      

Bowlero*

      25,100        287,144  

Callaway Golf*

      10,700        245,565  

Chuy’s Holdings*

      9,600        213,408  

Five Below*

      1,500        190,605  

Monro

      5,500        275,825  

Papa John’s International

      3,300        316,437  

PowerSchool Holdings, Cl A*

      10,600        152,746  

Skyline Champion*

      3,200        202,560  

Travel + Leisure

      3,600        155,196  

Vivid Seats

      26,363        220,395  
     

 

 

  
                  2,259,881  
     

 

 

  

CONSUMER STAPLES — 1.4%

      

Primo Water

      16,600        219,452  
     

 

 

  

ENERGY — 3.6%

      

Clean Energy Fuels*

      27,300        176,904  

Denbury*

      5,400        388,314  
     

 

 

  
        565,218  
     

 

 

  

FINANCIALS — 4.3%

      

Nicolet Bankshares*

      4,300        343,914  

Umpqua Holdings

      18,100        318,741  
     

 

 

  
        662,655  
     

 

 

  

HEALTH CARE — 24.1%

      

Azenta

      3,600        245,736  

Bioventus, Cl A*

      24,200        205,458  

Certara*

      6,600        151,734  

Covetrus*

      11,700        243,009  

Encompass Health

      4,100        207,542  

Enhabit*

      2,050        35,895  

Ensign Group

      3,500        278,915  

Haemonetics*

      5,200        361,348  

 

1

THE ADVISORS’ INNER CIRCLE FUND   

RHJ SMALL CAP PORTFOLIO            

JULY 31, 2022 (Unaudited)

 

 

 COMMON STOCK — continued

      
             Shares                    Value        

HEALTH CARE — continued

      

Harmony Biosciences Holdings*

      7,100      $ 360,183  

ModivCare*

      2,200        219,560  

Omnicell*

      2,800        308,336  

OptimizeRx*

      5,200        116,844  

Pacira BioSciences*

      4,400        248,864  

R1 RCM*

      15,500        387,500  

STAAR Surgical*

      4,600        371,220  
     

 

 

  
        3,742,144  
     

 

 

  

INDUSTRIALS — 22.0%

      

Albany International, Cl A

      4,100        374,207  

API Group*

      12,800        226,688  

Arcosa

      5,800        299,048  

Construction Partners, Cl A*

      6,300        149,814  

GATX

      3,000        300,750  

Griffon

      12,900        387,129  

Hub Group, Cl A*

      3,500        267,400  

ICF International

      4,400        415,140  

Matson

      2,300        210,841  

Primoris Services

      8,368        195,477  

Tetra Tech

      2,400        367,848  

Vicor*

      3,098        226,030  
     

 

 

  
        3,420,372  
     

 

 

  

INFORMATION TECHNOLOGY — 20.9%

      

A10 Networks

      22,700        338,457  

Axcelis Technologies*

      5,100        358,683  

Fabrinet*

      3,200        307,392  

Infinera*

      37,100        243,005  

Model N*

      11,013        276,647  

Power Integrations

      3,700        314,537  

Progress Software

      9,500        446,120  

Rambus*

      9,700        245,216  

Viavi Solutions*

      21,100        312,280  

WNS Holdings ADR*

      4,689        406,583  
     

 

 

  
                  3,248,920  
     

 

 

  

MATERIALS — 5.5%

      

Materion

      4,100        335,954  

 

2

THE ADVISORS’ INNER CIRCLE FUND   

RHJ SMALL CAP PORTFOLIO            

JULY 31, 2022 (Unaudited)

 

 

COMMON STOCK — continued

   

 

 

 

   

 

 

 

             Shares                      Value          

MATERIALS — continued

      

Mativ

      10,500      $ 229,425  

Osisko Gold Royalties

      28,100        293,645  
     

 

 

  
        859,024  
     

 

 

  

TOTAL COMMON STOCK

      

(Cost $13,637,606)

         15,151,861  
     

 

 

  

    

      

SHORT-TERM INVESTMENT(A) — 1.5%

   

 

 

 

   

 

 

 

First American Government Obligations

      

Fund, Cl X , 1.368%

      

(Cost $224,809)

      224,809        224,809  
     

 

 

  

TOTAL INVESTMENTS— 98.9%

      

(Cost $13,862,415)

       $         15,376,670  
     

 

 

  

 

  

Percentages are based on Net Assets of $15,543,567.

*

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

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 under U.S. generally accepted accounting principles.

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

RHJ-QH-002-3800

 

3