0001752724-23-074556.txt : 20230331 0001752724-23-074556.hdr.sgml : 20230331 20230331080544 ACCESSION NUMBER: 0001752724-23-074556 CONFORMED SUBMISSION TYPE: NPORT-P PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20230131 FILED AS OF DATE: 20230331 DATE AS OF CHANGE: 20230331 PERIOD START: 20231031 FILER: COMPANY DATA: COMPANY CONFORMED NAME: ADVISORS' INNER CIRCLE FUND CENTRAL INDEX KEY: 0000878719 IRS NUMBER: 000000000 FISCAL YEAR END: 1031 FILING VALUES: FORM TYPE: NPORT-P SEC ACT: 1940 Act SEC FILE NUMBER: 811-06400 FILM NUMBER: 23783339 BUSINESS ADDRESS: STREET 1: 1 FREEDOM VALLEY DRIVE CITY: OAKS STATE: PA ZIP: 19087 BUSINESS PHONE: 8009327781 MAIL ADDRESS: STREET 1: 1 FREEDOM VALLEY DRIVE CITY: OAKS STATE: PA ZIP: 19087 FORMER COMPANY: FORMER CONFORMED NAME: ADVISORS INNER CIRCLE FUND DATE OF NAME CHANGE: 19920929 0000878719 S000032898 CAMBIAR SMID FUND C000101540 INVESTOR CLASS SHARES CAMMX C000148331 INSTITUTIONAL CLASS SHARES CAMUX NPORT-P 1 primary_doc.xml NPORT-P false 0000878719 XXXXXXXX S000032898 C000101540 C000148331 ADVISORS' INNER CIRCLE FUND 811-06400 0000878719 549300LRWL70Z8CGWD77 ONE FREEDOM VALLEY DRIVE OAKS 19456 8774463863 Cambiar SMID Fund S000032898 54930067WFB1JOFLQQ48 2023-10-31 2023-01-31 N 132347736.73 130720.37 132217016.36 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 N IPG PHOTONICS CORPORATION 5493002KZ51CADQ94G15 IPG PHOTONICS CORP COMMON STOCK 44980X109 31500.00000000 NS USD 3531150.00000000 2.670722798936 Long EC US N 1 N N N EXPEDITORS INTERNATIONAL OF WASHINGTON, INC 984500B055A804AB6E40 EXPEDITORS INTL WASH INC COMMON STOCK 302130109 27940.00000000 NS USD 3021711.00000000 2.285417628675 Long EC US N 1 N N N BOOZ ALLEN HAMILTON HOLDING CORPORATION 529900JPV47PIUWMA015 BOOZ ALLEN HAMILTON HOLDINGS COMMON STOCK 099502106 29310.00000000 NS USD 2773898.40000000 2.097988955103 Long EC US N 1 N N N BUILDERS FIRSTSOURCE, INC. 549300W0SKP6L3H7DP63 BUILDERS FIRSTSOURCE INC COMMON STOCK 12008R107 46900.00000000 NS USD 3737930.00000000 2.827117191801 Long EC US N 1 N N N WEX INC. T9M5IGROL1TL1G5OV478 WEX INC COMMON STOCK 96208T104 19050.00000000 NS USD 3523678.50000000 2.665071862161 Long EC US N 1 N N N ATMOS ENERGY CORPORATION QVLWEGTD2S8GJMO8D383 ATMOS ENERGY CORP COMMON STOCK 049560105 32240.00000000 NS USD 3789489.60000000 2.866113382623 Long EC US N 1 N N N CHARLES RIVER LABORATORIES INTERNATIONAL, INC. 549300BSQ0R4UZ5KX287 CHARLES RIVER LABORATORIES COMMON STOCK 159864107 12750.00000000 NS USD 3101437.50000000 2.345717355741 Long EC US N 1 N N N MASCO CORPORATION 5GCSNMQXHEYA1JO8QN11 MASCO CORP COMMON STOCK 574599106 64480.00000000 NS USD 3430336.00000000 2.594473914507 Long EC US N 1 N N N AMERICOLD REALTY TRUST, INC. N/A AMERICOLD REALTY TRUST INC REIT 03064D108 120170.00000000 NS USD 3774539.70000000 2.854806290381 Long EC US N 1 N N N EAST WEST BANCORP, INC. N/A EAST WEST BANCORP INC COMMON STOCK 27579R104 44940.00000000 NS USD 3528688.80000000 2.668861313881 Long EC US N 1 N N N EURONET WORLDWIDE, INC. YG3575C4DSHJPA5KET68 EURONET WORLDWIDE INC COMMON STOCK 298736109 33480.00000000 NS USD 3772526.40000000 2.853283566563 Long EC US N 1 N N N MAGNOLIA OIL & GAS CORPORATION N/A MAGNOLIA OIL & GAS CORP - A COMMON STOCK 559663109 127110.00000000 NS USD 3001067.10000000 2.269803980320 Long EC US N 1 N N N V.F. CORPORATION CWAJJ9DJ5Z7P057HV541 VF CORP COMMON STOCK 918204108 105650.00000000 NS USD 3268811.00000000 2.472307339850 Long EC US N 1 N N N TARGA RESOURCES CORP. 5493003QENHHS261UR94 TARGA RESOURCES CORP COMMON STOCK 87612G101 42990.00000000 NS USD 3225109.80000000 2.439254710769 Long EC US N 1 N N N WATSCO, INC. 549300F1Y3LN5BX5WN75 WATSCO INC COMMON STOCK 942622200 10640.00000000 NS USD 3057616.80000000 2.312574344950 Long EC US N 1 N N N MAXIMUS, INC. 549300DQCDS8HJ7QF202 MAXIMUS INC COMMON STOCK 577933104 48850.00000000 NS USD 3656422.50000000 2.765470436909 Long EC US N 1 N N N MERCURY SYSTEMS, INC. 549300P3B84SGK7HH679 MERCURY SYSTEMS INC COMMON STOCK 589378108 61330.00000000 NS USD 3065580.05000000 2.318597208133 Long EC US N 1 N N N QUEST DIAGNOSTICS INCORPORATED 8MCWUBXQ0WE04KMXBX50 QUEST DIAGNOSTICS INC COMMON STOCK 74834L100 20520.00000000 NS USD 3046809.60000000 2.304400510524 Long EC US N 1 N N N ARCH CAPITAL GROUP LTD. 549300AYR4P8AFKDCE43 ARCH CAPITAL GROUP LTD COMMON STOCK G0450A105 52760.00000000 NS USD 3395106.00000000 2.567828327600 Long EC US N 1 N N N NATIONAL RETAIL PROPERTIES, INC. 5493008JKH5SOTI0JS97 NATIONAL RETAIL PROPERTIES REIT 637417106 71320.00000000 NS USD 3377002.00000000 2.554135687652 Long EC US N 1 N N N FIDELITY NATIONAL FINANCIAL, INC. 549300CAZYIH39SYQ287 FIDELITY NATIONAL FINANCIAL COMMON STOCK 31620R303 77080.00000000 NS USD 3393832.40000000 2.566865062783 Long EC US N 1 N N N BOK FINANCIAL CORPORATION GRI2NT5QHYW751NMR949 BOK FINANCIAL CORPORATION COMMON STOCK 05561Q201 27870.00000000 NS USD 2800935.00000000 2.118437608948 Long EC US N 1 N N N THE TORO COMPANY YJKE4YIT6BWQHVEW0D14 TORO CO COMMON STOCK 891092108 28330.00000000 NS USD 3159361.60000000 2.389527223483 Long EC US N 1 N N N Amdocs Limited 549300HQV672RJ7RQV66 AMDOCS LTD COMMON STOCK G02602103 34180.00000000 NS USD 3142167.40000000 2.376522694661 Long EC US N 1 N N N DENTSPLY SIRONA INC. 9NHEHR1SOZCYXDO8HO28 DENTSPLY SIRONA INC COMMON STOCK 24906P109 73570.00000000 NS USD 2709583.10000000 2.049345216369 Long EC US N 1 N N N Cboe Global Markets, Inc. 529900RLNSGA90UPEH54 CBOE GLOBAL MARKETS INC COMMON STOCK 12503M108 26380.00000000 NS USD 3241574.40000000 2.451707419545 Long EC US N 1 N N N HUBBELL INCORPORATED 54930088VDQ6840Y6597 HUBBELL INC COMMON STOCK 443510607 12530.00000000 NS USD 2868242.30000000 2.169344293922 Long EC US N 1 N N N INCYTE CORPORATION 549300Z4WN6JVZ3T4680 INCYTE CORP COMMON STOCK 45337C102 37995.00000000 NS USD 3234894.30000000 2.446655044152 Long EC US N 1 N N N First American Funds, Inc: Government Obligations Fund; Class X Shares N/A FIRST AMERICAN TREASURY OBLIGATIONS FUND CLASS X 31846V336 4398460.58000000 PA USD 4398460.58000000 3.326697804179 Long STIV US N 2 N N N AMEDISYS, INC. 5299001RBS9GK9STN379 AMEDISYS INC COMMON STOCK 023436108 31670.00000000 NS USD 3061222.20000000 2.315301225422 Long EC US N 1 N N N BRUKER CORPORATION LEBZ6VLQ6I8XB1NHVY15 BRUKER CORP COMMON STOCK 116794108 45300.00000000 NS USD 3176436.00000000 2.402441143696 Long EC US N 1 N N N EXELIXIS, INC. 254900PJQB59O2O95R37 EXELIXIS INC COMMON STOCK 30161Q104 172450.00000000 NS USD 3038569.00000000 2.298167878578 Long EC US N 1 N N N GENTEX CORPORATION 549300S3UD8XV1MN0287 GENTEX CORP COMMON STOCK 371901109 109420.00000000 NS USD 3228984.20000000 2.442185044630 Long EC US N 1 N N N LINCOLN ELECTRIC HOLDINGS, INC. BIMGBY40SIN95O01BN93 LINCOLN ELECTRIC HOLDINGS COMMON STOCK 533900106 21500.00000000 NS USD 3587705.00000000 2.713497172127 Long EC US N 1 N N N BURLINGTON STORES, INC. 5299003Z37DVGKKC1W09 BURLINGTON STORES INC COMMON STOCK 122017106 13990.00000000 NS USD 3215321.70000000 2.431851654589 Long EC US N 1 N N N LAMB WESTON HOLDINGS, INC. 5493005SMYID1D2OY946 LAMB WESTON HOLDINGS INC COMMON STOCK 513272104 30755.00000000 NS USD 3072116.95000000 2.323541276740 Long EC US N 1 N N N REINSURANCE GROUP OF AMERICA, INCORPORATED LORM1GNEU1DKEW527V90 REINSURANCE GROUP OF AMERICA COMMON STOCK 759351604 21460.00000000 NS USD 3256984.20000000 2.463362349012 Long EC US N 1 N N N DOLBY LABORATORIES, INC. 549300X04FB2QPCJ5J24 DOLBY LABORATORIES INC-CL A COMMON STOCK 25659T107 44940.00000000 NS USD 3575426.40000000 2.704210470356 Long EC US N 1 N N N Essential Utilities, Inc. 549300ILTEOF3E3QY357 ESSENTIAL UTILITIES INC COMMON STOCK 29670G102 64480.00000000 NS USD 3013150.40000000 2.278942970393 Long EC US N 1 N N N AMERICAN FINANCIAL GROUP, INC. 549300AFOM7IVKIU1G39 AMERICAN FINANCIAL GROUP INC COMMON STOCK 025932104 24430.00000000 NS USD 3483473.70000000 2.634663673331 Long EC US N 1 N N N 2023-01-31 THE ADVISORS' INNER CIRCLE FUND Andy Metzger Andy Metzger CFO XXXX NPORT-EX 2 d471987d8k.htm SCHEDULE F HTML

THE ADVISORS’ INNER CIRCLE FUND

    CAMBIAR OPPORTUNITY FUND
   JANUARY 31, 2023 (UNAUDITED)
       
       

 

 

 SCHEDULE OF INVESTMENTS

      

 COMMON STOCK — 92.0%

      
         Shares          Value

AEROSPACE/DEFENSE EQUIPMENT — 9.9%

      

Airbus ADR

      400,000       $ 12,528,000    

L3Harris Technologies

      52,000        11,170,640  

Raytheon Technologies

      95,000        9,485,750  
     

 

 

 

        33,184,390  
     

 

 

 

AIR FREIGHT & LOGISTICS — 2.9%

      

United Parcel Service, Cl B

      53,000        9,817,190  
     

 

 

 

BANKS — 2.9%

      

JPMorgan Chase

      70,000        9,797,200  
     

 

 

 

BEVERAGES — 3.2%

      

Constellation Brands, Cl A

      46,000        10,649,920  
     

 

 

 

CAPITAL MARKETS — 7.9%

      

Charles Schwab

      80,000        6,193,600  

Goldman Sachs Group

      26,000        9,511,060  

Intercontinental Exchange

      100,000        10,755,000  
     

 

 

 

              26,459,660  
     

 

 

 

CHEMICALS — 1.7%

      

Corteva

      90,000        5,800,500  
     

 

 

 

CONSUMER FINANCE — 3.6%

      

American Express

      70,000        12,245,100  
     

 

 

 

ELECTRICAL EQUIPMENT — 1.9%

      

Rockwell Automation

      23,000        6,486,690  
     

 

 

 

ELECTRONIC EQUIPMENT INSTRUMENTS & COMPONENTS — 2.1%

      

TE Connectivity

      55,000        6,993,250  
     

 

 

 

FOOD & STAPLES RETAILING — 3.0%

      

Sysco

      129,000        9,992,340  
     

 

 

 

HEALTH CARE EQUIPMENT & SERVICES — 3.3%

      

Medtronic

      130,000        10,879,700  
     

 

 

 

HEALTH CARE PROVIDERS & SERVICES — 8.2%

      

Centene *

      130,000        9,911,200  

Humana

      11,700        5,986,890  

Laboratory Corp of America Holdings

      46,000        11,597,520  
     

 

 

 

        27,495,610  
     

 

 

 

HOUSEHOLD PRODUCTS — 3.0%

      

Colgate-Palmolive

      138,000        10,285,140  
     

 

 

 

INSURANCE — 3.3%

      

Chubb

      48,000        10,919,520  
     

 

 

 

INTERACTIVE MEDIA & SERVICES — 3.0%

      

Alphabet, Cl A *

      102,000        10,081,680  
     

 

 

 

INTERNET & DIRECT MARKETING RETAIL — 3.0%

      

Amazon.com *

      96,000        9,900,480  
     

 

 

 

IT SERVICES — 5.4%

      

Fiserv *

      66,000        7,040,880  

Mastercard, Cl A

      30,000        11,118,000  
     

 

 

 

        18,158,880  
     

 

 

 

MULTI-UTILITIES — 3.0%

      

Sempra Energy

      63,000        10,100,790  
     

 

 

 

OIL, GAS & CONSUMABLE FUELS — 4.0%

      

ONEOK

      96,000        6,574,080  

Williams

      215,000        6,931,600  
     

 

 

 

        13,505,680  
     

 

 

 

PHARMACEUTICALS — 3.0%

      

Johnson & Johnson

      62,000        10,132,040  
     

 

 

 

 

1

THE ADVISORS’ INNER CIRCLE FUND

    CAMBIAR OPPORTUNITY FUND
   JANUARY 31, 2023 (UNAUDITED)
       
       

 

 

COMMON STOCK — continued

      
         Shares          Value

REAL ESTATE INVESTMENT TRUSTS — 2.0%

      

Welltower

      87,000       $ 6,528,480  
     

 

 

 

ROAD & RAIL — 4.8%

      

Uber Technologies *

      220,000        6,804,600  

Union Pacific

      45,000        9,188,550  
     

 

 

 

        15,993,150  
     

 

 

 

SEMI-CONDUCTORS & INSTRUMENTS — 4.2%

      

Applied Materials

      60,000        6,689,400  

Marvell Technology

      167,000        7,206,050  
     

 

 

 

        13,895,450  
     

 

 

 

SPECIALTY RETAIL — 2.7%

      

TJX

      110,000        9,004,600  
     

 

 

 

TOTAL COMMON STOCK
(Cost $241,112,747)

         308,307,440  
     

 

 

 

 SHORT-TERM INVESTMENT — 7.1%

     

First American Treasury Obligation Fund 4.317% (A)
(Cost $23,909,386)

      23,909,386        23,909,386    
     

 

 

 

TOTAL INVESTMENTS — 99.1%
    (Cost $265,022,133)

        $     332,216,826  
     

 

 

 

 

 

Percentages are based on Net Assets of $335,098,269.

*

Non-income producing security.

(A)

The rate shown is the 7-day effective yield as of January 31, 2023.

ADR — American Depository Receipt

Cl — Class

CMB-QH-007-3100

 

2

THE ADVISORS’ INNER CIRCLE FUND

    CAMBIAR INTERNATIONAL EQUITY FUND
   JANUARY 31, 2023 (UNAUDITED)
       
       

 

 

 SCHEDULE OF INVESTMENTS

      

 COMMON STOCK — 91.6%

      
         Shares          Value

AUSTRALIA — 2.8%

      

Santos

      1,720,000       $ 8,780,400    
     

 

 

 

BELGIUM — 5.1%

      

KBC Group

      130,000        9,628,713  

UCB

      78,000        6,404,131  
     

 

 

 

              16,032,844  
     

 

 

 

CANADA — 4.4%

      

Agnico Eagle Mines

      115,000        6,495,200  

Canadian National Railway

      62,000        7,383,580  
     

 

 

 

        13,878,780  
     

 

 

 

FRANCE — 12.2%

      

Air Liquide

      48,000        7,642,822  

Airbus

      65,000        8,148,749  

Capgemini

      38,000        7,211,822  

LVMH Moet Hennessy Louis Vuitton

      8,500        7,420,261  

Pernod Ricard

      36,000        7,453,052  
     

 

 

 

        37,876,706  
     

 

 

 

GERMANY — 11.3%

      

Bayer

      103,000        6,411,202  

Covestro

      132,000        6,077,852  

Deutsche Post

      155,000        6,673,759  

Merck KGaA

      31,000        6,470,552  

SAP

      80,000        9,483,163  
     

 

 

 

        35,116,528  
     

 

 

 

HONG KONG — 2.4%

      

AIA Group

      677,000        7,655,278  
     

 

 

 

JAPAN — 8.3%

      

Hitachi

      135,000        7,079,734  

Murata Manufacturing

      73,000        4,171,257  

Sony Group

      78,000        6,969,424  

Tokyo Electron Ltd.

      22,000        7,689,535  
     

 

 

 

        25,909,950  
     

 

 

 

NETHERLANDS — 5.3%

      

ING Groep

      664,000        9,614,855  

Shell

      232,000        6,810,996  
     

 

 

 

        16,425,851  
     

 

 

 

SINGAPORE — 4.2%

      

DBS Group Holdings

      232,000        6,351,295  

Singapore Telecommunications

      3,558,000        6,814,152  
     

 

 

 

        13,165,447  
     

 

 

 

SPAIN — 2.3%

      

Iberdrola

      608,000        7,132,888  
     

 

 

 

SWITZERLAND — 9.8%

      

Nestle

      59,000        7,198,534  

Novartis

      80,000        7,232,727  

Roche Holding

      21,000        6,555,578  

Zurich Insurance Group

      19,000        9,396,050  
     

 

 

 

        30,382,889  
     

 

 

 

TAIWAN — 2.0%

      

Taiwan Semiconductor Manufacturing ADR

      66,000        6,120,180  
     

 

 

 

UNITED KINGDOM — 19.3%

      

BAE Systems

      572,000        6,055,213  

Barclays

      3,715,000        8,539,998  

Bunzl

      196,000        7,195,389  

Compass Group

      232,000        5,542,012  

Diageo

      155,000        6,777,536  

Entain

      321,000        5,919,457  

Intertek Group

      124,000        6,664,624  

 

1

THE ADVISORS’ INNER CIRCLE FUND

    CAMBIAR INTERNATIONAL EQUITY FUND
   JANUARY 31, 2023 (UNAUDITED)
       
       

 

 

COMMON STOCK — continued

      
         Shares          Value

UNITED KINGDOM — continued

      

London Stock Exchange Group

      76,000       $ 6,957,408  

SSE

      298,000        6,360,704  
     

 

 

 

        60,012,341  
     

 

 

 

UNITED STATES — 2.2%

      

Liberty Media -Liberty Formula One, Cl C *

      95,000        6,726,000  
     

 

 

 

TOTAL COMMON STOCK
(Cost $246,086,082)

         285,216,082  
     

 

 

 

 RIGHTS — 0.1%

      

Spain — 0.1%

      

Iberdrola* (A)

      608,000        124,265  
     

 

 

 

TOTAL RIGHTS
(Cost $–)

         124,265  
     

 

 

 

     

 SHORT-TERM INVESTMENT — 5.0%

      

First American Treasury Obligation Fund 4.317% (B)
(Cost $15,699,280)

      15,699,280        15,699,280    
     

 

 

 

TOTAL INVESTMENTS — 96.7%
(Cost $261,785,362)

        $     301,039,627  
     

 

 

 

 

 

Percentages are based on Net Assets of $311,313,771.

*

Non-income producing security.

(A)

Expiration date is unavailable.

(B)

The rate reported is the 7-day effective yield as of January 31, 2023.

ADR — American Depositary Receipt

Cl — Class

CMB-QH-008-3100

 

2

THE ADVISORS’ INNER CIRCLE FUND

    CAMBIAR SMALL CAP FUND
   JANUARY 31, 2023 (UNAUDITED)
       
       

 

 

 SCHEDULE OF INVESTMENTS

      

 COMMON STOCK — 97.7%

      
         Shares          Value

AEROSPACE & DEFENSE — 4.4%

      

BWX Technologies

      38,000       $ 2,312,680    

Mercury Systems *

      45,000        2,249,325  
     

 

 

 

              4,562,005  
     

 

 

 

AIR FREIGHT & LOGISTICS — 2.2%

      

Forward Air

      21,500        2,318,775  
     

 

 

 

AUTO COMPONENTS — 2.3%

      

Gentex

      81,000        2,390,310  
     

 

 

 

BANKS — 10.4%

      

Cathay General Bancorp

      49,000        2,154,040  

Prosperity Bancshares

      29,000        2,199,940  

Texas Capital Bancshares *

      39,000        2,576,730  

United Bankshares

      53,000        2,130,600  

United Community Banks

      52,000        1,692,080  
     

 

 

 

        10,753,390  
     

 

 

 

BIOTECHNOLOGY — 2.2%

      

Exelixis *

      128,000        2,255,360  
     

 

 

 

BUILDING PRODUCTS — 2.3%

      

PGT Innovations *

      109,000        2,365,300  
     

 

 

 

COMMERCIAL SERVICES & SUPPLIES — 1.9%

      

Healthcare Services Group

      143,000        1,926,210  
     

 

 

 

DIVERSIFIED CONSUMER SERVICES — 2.4%

      

Frontdoor *

      92,000        2,500,560  
     

 

 

 

ELECTRIC UTILITIES — 2.4%

      

IDACORP

      23,000        2,433,630  
     

 

 

 

ELECTRONICS EQUIPMENT INSTRUMENTS & COMPONENTS — 2.3%

      

Advanced Energy Industries

      26,000        2,411,240  
     

 

 

 

FOOD PRODUCTS — 1.4%

      

Hain Celestial Group *

      73,000        1,497,960  
     

 

 

 

HEALTH CARE EQUIPMENT & SERVICES — 3.8%

      

ICU Medical *

      10,500        2,028,915  

NuVasive *

      42,000        1,915,200  
     

 

 

 

        3,944,115  
     

 

 

 

HEALTH CARE PROVIDERS & SERVICES — 8.3%

      

Addus HomeCare *

      22,000        2,365,440  

HealthEquity *

      31,000        1,886,350  

Innovage Holding *

      275,000        2,059,750  

US Physical Therapy

      23,000        2,280,450  
     

 

 

 

        8,591,990  
     

 

 

 

HEALTH CARE TECHNOLOGY — 2.1%

      

HealthStream *

      92,000        2,224,560  
     

 

 

 

HOTELS, RESTAURANTS & LEISURE — 2.4%

      

Monarch Casino & Resort *

      32,000        2,451,840  
     

 

 

 

HOUSEHOLD DURABLES — 2.1%

      

MDC Holdings

      59,000        2,227,840  
     

 

 

 

INSURANCE — 11.2%

      

Axis Capital Holdings

      40,000        2,502,800  

First American Financial

      39,000        2,412,930  

James River Group Holdings

      85,000        1,926,100  

Reinsurance Group of America, Cl A

      14,500        2,200,665  

RenaissanceRe Holdings

      13,000        2,543,970  
     

 

 

 

        11,586,465  
     

 

 

 

 

1

THE ADVISORS’ INNER CIRCLE FUND

    CAMBIAR SMALL CAP FUND
   JANUARY 31, 2023 (UNAUDITED)
       
       

 

 

COMMON STOCK — continued

      
         Shares          Value

IT SERVICES — 4.1%

      

Perficient *

      29,000      $ 2,150,060    

WNS Holdings ADR *

      25,000        2,118,250  
     

 

 

 

        4,268,310  
     

 

 

 

LEISURE PRODUCTS — 2.0%

      

Johnson Outdoors, Cl A

      30,000        2,053,800  
     

 

 

 

MACHINERY — 2.3%

      

Alamo Group

      15,500        2,425,285  
     

 

 

 

MULTI-UTILITIES — 1.8%

      

Avista

      47,000        1,875,300  
     

 

 

 

OIL, GAS & CONSUMABLE FUELS — 1.7%

      

Magnolia Oil & Gas, Cl A

      73,000        1,723,530  
     

 

 

 

PROFESSIONAL SERVICES — 6.1%

      

Forrester Research *

      58,000        2,149,480  

Insperity

      19,500        2,155,725  

ManpowerGroup

      23,000        2,004,680  
     

 

 

 

              6,309,885  
     

 

 

 

REAL ESTATE INVESTMENT TRUSTS — 2.0%

      

NETSTREIT

      105,000        2,113,650  
     

 

 

 

REAL ESTATE MANAGEMENT & DEVELOPMENT — 2.0%

      

Marcus & Millichap

      56,000        2,029,440  
     

 

 

 

SEMI-CONDUCTORS & INSTRUMENTS — 7.6%

      

Diodes *

      27,000        2,408,130  

Rambus *

      66,000        2,671,020  

Universal Display

      21,000        2,783,130  
     

 

 

 

        7,862,280  
     

 

 

 

SOFTWARE — 4.0%

      

Cerence *

      58,000        1,422,160  

Envestnet *

      42,000        2,730,000  
     

 

 

 

        4,152,160  
     

 

 

 

TOTAL COMMON STOCK
(Cost $89,996,195)

         101,255,190  
     

 

 

 

 SHORT-TERM INVESTMENT — 2.3%

     

First American Treasury Obligation Fund 4.317% (A)
(Cost $2,421,170)

      2,421,170        2,421,170  
     

 

 

 

TOTAL INVESTMENTS— 100.0%
    (Cost $92,417,365)

        $     103,676,360  
     

 

 

 

 

 

Percentages are based on Net Assets of $103,687,033.

*

Non-income producing security.

(A)

The rate shown is the 7-day effective yield as of January 31, 2023.

ADR — American Depositary Receipt

Cl — Class

CMB-QH-009-3100

 

2

THE ADVISORS’ INNER CIRCLE FUND

    CAMBIAR AGGRESSIVE VALUE FUND
   JANUARY 31, 2023 (UNAUDITED)
       
       

 

 

 SCHEDULE OF INVESTMENTS

      

 COMMON STOCK — 90.9%

      
         Shares          Value

FRANCE — 5.7%

      

Airbus ADR

      85,000       $ 2,662,200    
     

 

 

 

GERMANY — 9.6%

      

Bayer ADR

      140,000        2,181,200  

SAP ADR

      20,000        2,370,600  
     

 

 

 

        4,551,800  
     

 

 

 

NETHERLANDS — 8.8%

      

ING Groep ADR

      140,000        2,020,200  

Shell ADR

      36,000        2,117,160  
     

 

 

 

        4,137,360  
     

 

 

 

UNITED KINGDOM — 3.6%

      

BAE Systems ADR

      40,000        1,709,200  
     

 

 

 

UNITED STATES — 63.2%

      

Air Lease

      53,000        2,383,410  

Alphabet *

      16,000        1,581,440  

American Express

      10,500        1,836,765  

Applied Materials

      9,000        1,003,410  

Centene *

      25,000        1,906,000  

Constellation Brands

      7,000        1,620,640  

Corteva

      16,000        1,031,200  

Energy Transfer

      180,000        2,390,400  

Goldman Sachs Group

      3,000        1,097,430  

Intercontinental Exchange

      18,000        1,935,900  

Laboratory Corp of America Holdings

      6,400        1,613,568  

Liberty Media -Liberty Formula One Cl, C *

      35,000        2,478,000  

Marvell Technology

      22,000        949,300  

Raytheon Technologies

      14,000        1,397,900  

Rockwell Automation

      4,000        1,128,120  

Sysco

      21,000        1,626,660  

TE Connectivity

      9,000        1,144,350  

Uber Technologies *

      47,000        1,453,710  

Williams

      40,000        1,289,600  
     

 

 

 

        29,867,803  
     

 

 

 

TOTAL COMMON STOCK
(Cost $35,179,425)

         42,928,363  
     

 

 

 

 SHORT-TERM INVESTMENT — 7.3%

      

First American Treasury Obligation Fund 4.317% (A)
(Cost $3,472,102)

      3,472,102        3,472,102  
     

 

 

 

TOTAL INVESTMENTS — 98.2%
(Cost $38,651,527)

        $     46,400,465  
     

 

 

 

 

 

Percentages are based on Net Assets of $47,255,429.

*

Non-income producing security.

(A)

The rate reported is the 7-day effective yield as of January 31, 2023.

Cl — Class

ADR — American Depositary Receipt

CMB-QH-010-3100

 

1

THE ADVISORS’ INNER CIRCLE FUND

    CAMBIAR SMID FUND
   JANUARY 31, 2023 (UNAUDITED)
       
       

 

 

 SCHEDULE OF INVESTMENTS

      

 COMMON STOCK — 93.5%

     
         Shares          Value

AEROSPACE & DEFENSE — 2.3%

      

Mercury Systems *

      61,330       $ 3,065,580    
     

 

 

 

AIR FREIGHT & LOGISTICS — 2.3%

      

Expeditors International of Washington

      27,940        3,021,711  
     

 

 

 

AUTO COMPONENTS — 2.5%

      

Gentex

      109,420        3,228,984  
     

 

 

 

BANKS — 4.8%

      

BOK Financial

      27,870        2,800,935  

East West Bancorp

      44,940        3,528,689  
     

 

 

 

            6,329,624  
     

 

 

 

BIOTECHNOLOGY — 4.7%

      

Exelixis *

      172,450        3,038,569  

Incyte *

      37,995        3,234,894  
     

 

 

 

        6,273,463  
     

 

 

 

BUILDING PRODUCTS — 2.6%

      

Masco

      64,480        3,430,336  
     

 

 

 

CAPITAL MARKETS — 2.5%

      

Cboe Global Markets

      26,380        3,241,574  
     

 

 

 

ELECTRICAL EQUIPMENT — 2.2%

      

Hubbell, Cl B

      12,530        2,868,242  
     

 

 

 

ELECTRONIC EQUIPMENT, INSTRUMENTS & COMPONENTS — 2.7%

      

IPG Photonics *

      31,500        3,531,150  
     

 

 

 

FOOD PRODUCT — 2.3%

      

Lamb Weston Holdings

      30,755        3,072,117  
     

 

 

 

GAS UTILITIES — 2.8%

      

Atmos Energy

      32,240        3,789,490  
     

 

 

 

HEALTH CARE EQUIPMENT & SUPPLIES — 2.1%

      

Dentsply Sirona

      73,570        2,709,583  
     

 

 

 

HEALTH CARE PROVIDER & SERVICES — 4.6%

      

Amedisys *

      31,670        3,061,222  

Quest Diagnostics

      20,520        3,046,810  
     

 

 

 

        6,108,032  
     

 

 

 

INSURANCE — 10.2%

      

American Financial Group

      24,430        3,483,474  

Arch Capital Group *

      52,760        3,395,106  

Fidelity National Financial

      77,080        3,393,832  

Reinsurance Group of America, Cl A

      21,460        3,256,984  
     

 

 

 

        13,529,396  
     

 

 

 

IT SERVICES — 10.6%

      

Amdocs

      34,180        3,142,167  

Euronet Worldwide *

      33,480        3,772,526  

Maximus

      48,850        3,656,423  

WEX *

      19,050        3,523,679  
     

 

 

 

        14,094,795  
     

 

 

 

LIFE SCIENCES TOOLS & SERVICES — 4.8%

      

Bruker

      45,300        3,176,436  

Charles River Laboratories International *

      12,750        3,101,438  
     

 

 

 

        6,277,874  
     

 

 

 

MACHINERY — 5.1%

      

Lincoln Electric Holdings

      21,500        3,587,705  

Toro

      28,330        3,159,362  
     

 

 

 

        6,747,067  
     

 

 

 

 

1

THE ADVISORS’ INNER CIRCLE FUND

    CAMBIAR SMID FUND
   JANUARY 31, 2023 (UNAUDITED)
       
       

 

 

COMMON STOCK — continued

      
         Shares          Value

OIL, GAS & CONSUMABLE FUELS — 4.7%

      

Magnolia Oil & Gas, Cl A

      127,110       $ 3,001,067    

Targa Resources

      42,990        3,225,110  
     

 

 

 

              6,226,177  
     

 

 

 

PROFESSIONAL SERVICES — 2.1%

      

Booz Allen Hamilton Holding, Cl A

      29,310        2,773,898  
     

 

 

 

REAL ESTATE INVESTMENT TRUSTS — 5.4%

      

Americold Realty Trust

      120,170        3,774,540  

National Retail Properties

      71,320        3,377,002  
     

 

 

 

        7,151,542  
     

 

 

 

SOFTWARE — 2.7%

      

Dolby Laboratories, Cl A

      44,940        3,575,426  
     

 

 

 

SPECIALTY RETAIL — 2.4%

      

Burlington Stores *

      13,990        3,215,322  
     

 

 

 

TEXTILES, APPAREL & LUXURY GOODS — 2.5%

      

VF

      105,650        3,268,811  
     

 

 

 

TRADING COMPANY & DISTRIBUTORS — 2.3%

      

Watsco

      10,640        3,057,617  
     

 

 

 

WATER UTILITIES — 2.3%

      

Essential Utilities

      64,480        3,013,150  
     

 

 

 

TOTAL COMMON STOCK
(Cost $104,675,300)

         123,600,961  
     

 

 

 

 SHORT-TERM INVESTMENT — 3.3%

     

First American Treasury Obligation Fund 4.317% (A)
(Cost $4,398,461)

      4,398,461        4,398,461  
     

 

 

 

TOTAL INVESTMENTS— 96.8%
    (Cost $109,073,761)

        $     127,999,422  
     

 

 

 

 

 

Percentages are based on Net Assets of $132,199,352.

*

Non-income producing security.

(A)

The rate shown is the 7-day effective yield as of January 31, 2023.

Cl — Class

CMB-QH-011-2400

 

2

THE ADVISORS’ INNER CIRCLE FUND

    CAMBIAR INTERNATIONAL SMALL CAP FUND
   JANUARY 31, 2023 (UNAUDITED)
       
       

 

 

 SCHEDULE OF INVESTMENTS

      

 COMMON STOCK — 92.8%

      
         Shares          Value

AUSTRALIA — 2.9%

      

Domino’s Pizza Enterprises

      18,000       $ 970,347  
     

 

 

 

CANADA — 4.6%

      

CCL Industries

      17,000        795,092    

Pason Systems

      60,000        711,586  
     

 

 

 

              1,506,678  
     

 

 

 

FAROE ISLANDS — 2.6%

      

Bakkafrost P

      14,000        868,721  
     

 

 

 

FRANCE — 7.5%

      

Eurazeo

      13,569        951,823  

Euroapi *

      50,000        803,851  

Remy Cointreau

      3,800        715,496  
     

 

 

 

        2,471,170  
     

 

 

 

GERMANY — 11.9%

      

flatexDEGIRO *

      73,000        621,175  

Hensoldt

      15,000        434,896  

Scout24

      16,614        967,230  

Stabilus

      13,209        911,091  

TeamViewer *

      71,000        1,000,167  
     

 

 

 

        3,934,559  
     

 

 

 

GREECE — 3.3%

      

Motor Oil Hellas Corinth Refineries

      44,000        1,075,259  
     

 

 

 

INDIA — 3.1%

      

WNS Holdings ADR *

      12,000        1,016,760  
     

 

 

 

ITALY — 2.8%

      

Buzzi Unicem

      41,327        930,605  
     

 

 

 

JAPAN — 13.0%

      

Daito Trust Construction

      6,800        671,967  

Disco

      3,200        961,384  

Kakaku.com

      38,500        641,876  

Ryohin Keikaku

      46,700        517,816  

Sanyo Denki

      15,982        774,768  

Taiyo Yuden

      21,500        730,259  
     

 

 

 

        4,298,070  
     

 

 

 

LUXEMBOURG — 2.2%

      

L’Occitane International

      261,600        727,841  
     

 

 

 

MEXICO — 2.8%

      

Coca-Cola Femsa ADR

      12,243        932,672  
     

 

 

 

NETHERLANDS — 9.1%

      

Aalberts

      17,000        803,800  

Euronext

      11,924        966,221  

OCI

      15,899        541,207  

QIAGEN *

      14,250        698,250  
     

 

 

 

        3,009,478  
     

 

 

 

NORWAY — 2.3%

      

Schibsted, Cl A

      35,269        770,235  
     

 

 

 

SWEDEN — 3.9%

      

Cloetta

      333,000        693,561  

Granges

      70,000        585,506  
     

 

 

 

        1,279,067  
     

 

 

 

UNITED KINGDOM — 20.8%

      

B&M European Value Retail

      152,000        840,607  

Britvic

      66,225        635,251  

Burford Capital

      69,002        629,988  

Centrica

      589,869        734,860  

Diploma

      25,000        845,685  

 

1

THE ADVISORS’ INNER CIRCLE FUND

    CAMBIAR INTERNATIONAL SMALL CAP FUND
   JANUARY 31, 2023 (UNAUDITED)
       
       

 

 

COMMON STOCK — continued

      
         Shares          Value

UNITED KINGDOM — continued

      

Greggs

      25,356       $ 846,686  

RS GROUP

      75,591        878,809  

Tate & Lyle

      85,752        798,527  

Virgin Money UK

      283,000        677,135  
     

 

 

 

        6,887,548    
     

 

 

 

TOTAL COMMON STOCK
(Cost $27,233,884)

         30,679,010  
     

 

 

 

 SHORT-TERM INVESTMENT — 6.8%

      

First American Treasury Obligation Fund 4.317% (A)

      

(Cost $2,251,940)

      2,251,940        2,251,940  
     

 

 

 

TOTAL INVESTMENTS — 99.6%

      

(Cost $29,485,824)

        $     32,930,950  
     

 

 

 

 

 

Percentages are based on Net Assets of $33,071,061.

*

Non-income producing security.

(A)

The rate shown is the 7-day effective yield as of January 31, 2023.

ADR — American Depositary Receipt

CMB-QH-013-1700

 

2