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

CIBC ATLAS

DISCIPLINED EQUITY FUND

JANUARY 31, 2024 (Unaudited)

 

 

 

SCHEDULE OF INVESTMENTS              

COMMON STOCK** — 98.3%

        Shares          Value  
  

 

 

     

 

 

  

COMMUNICATION SERVICES — 9.0%

      

Alphabet, Cl A *

      355,491      $ 49,804,289  

Alphabet, Cl C *

      363,158        51,495,805  

T-Mobile US

      143,971        23,212,444  

Walt Disney

      203,060        19,503,913  
     

 

 

  
        144,016,451  
     

 

 

  

CONSUMER DISCRETIONARY — 10.7%

      

Amazon.com *

      593,793        92,156,674  

Home Depot

      106,270        37,509,059  

McDonald’s

      53,812        15,751,849  

TJX

      181,547        17,230,626  

Ulta Beauty *

      16,430        8,248,681  
     

 

 

  
        170,896,889  
     

 

 

  

CONSUMER STAPLES — 3.1%

      

Costco Wholesale

      13,141        9,131,418  

Mondelez International, Cl A

      227,387        17,115,420  

PepsiCo

      132,185        22,277,138  
     

 

 

  
        48,523,976  
     

 

 

  

ENERGY — 4.2%

      

Cheniere Energy

      34,012        5,577,628  

Chevron

      101,264        14,929,352  

ConocoPhillips

      168,819        18,885,781  

Pioneer Natural Resources

      122,389        28,128,664  
     

 

 

  
        67,521,425  
     

 

 

  

FINANCIALS — 16.4%

      

BlackRock, Cl A

      19,179        14,850,491  

Blackstone, Cl A

      198,489        24,701,956  

CME Group, Cl A

      82,915        17,067,224  

Fidelity National Information Services

      169,429        10,548,650  

Fiserv *

      158,766        22,524,132  

Intercontinental Exchange

      188,707        24,028,062  

JPMorgan Chase

      131,062        22,851,971  

PNC Financial Services Group

      98,547        14,901,292  

S&P Global

      71,315        31,974,080  

US Bancorp

      392,885        16,320,443  

Visa, Cl A

      224,527        61,354,248  
     

 

 

  
          261,122,549  
     

 

 

  

 

1

THE ADVISORS’ INNER CIRCLE FUND   

CIBC ATLAS

DISCIPLINED EQUITY FUND

JANUARY 31, 2024 (Unaudited)

 

 

 

COMMON STOCK** (continued)

        Shares          Value  
  

 

 

     

 

 

  

HEALTH CARE — 13.6%

      

Abbott Laboratories

      210,903      $ 23,863,674  

AstraZeneca PLC ADR

      475,835        31,709,644  

Danaher

      130,103        31,213,011  

Edwards Lifesciences *

      188,674        14,805,249  

IQVIA Holdings *

      87,202        18,158,072  

Stryker

      45,497        15,263,334  

Thermo Fisher Scientific

      41,826        22,543,377  

UnitedHealth Group

      91,423        46,784,806  

Zoetis, Cl A

      63,113        11,853,253  
     

 

 

  
        216,194,420  
     

 

 

  

INDUSTRIALS — 7.4%

      

Automatic Data Processing

      47,946        11,784,168  

Honeywell International

      162,270        32,820,730  

Otis Worldwide

      237,370        20,993,003  

RTX

      227,198        20,702,282  

Union Pacific

      112,788        27,512,377  

Veralto

      43,367        3,325,815  
     

 

 

  
        117,138,375  
     

 

 

  

INFORMATION TECHNOLOGY — 26.6%

      

Adobe *

      39,642        24,490,034  

Analog Devices

      118,366        22,768,884  

Apple

      315,088        58,102,227  

Cisco Systems

      531,136        26,652,405  

Microsoft

      354,117        140,789,837  

NVIDIA

      76,292        46,940,179  

QUALCOMM

      133,232        19,786,284  

Roper Technologies

      52,221        28,042,677  

Salesforce *

      120,933        33,993,057  

TE Connectivity

      151,553        21,549,321  
     

 

 

  
          423,114,905  
     

 

 

  

MATERIALS — 3.1%

      

Linde PLC

      67,421        27,294,043  

Martin Marietta Materials

      42,537        21,626,662  
     

 

 

  
        48,920,705  
     

 

 

  

REAL ESTATE — 2.1%

      

American Tower, Cl A ‡

      90,923        17,789,085  

Prologis ‡

      71,356        9,040,091  

 

2

THE ADVISORS’ INNER CIRCLE FUND   

CIBC ATLAS

DISCIPLINED EQUITY FUND

JANUARY 31, 2024 (Unaudited)

 

 

 

COMMON STOCK** (continued)

        Shares          Value  
  

 

 

     

 

 

  

REAL ESTATE (continued)

      

VICI Properties, Cl A ‡

      217,923      $ 6,563,841  
     

 

 

  
        33,393,017  
     

 

 

  

UTILITIES — 2.1%

      

NextEra Energy

      469,203        27,509,372  

WEC Energy Group

      80,506        6,501,664  
     

 

 

  
        34,011,036  
     

 

 

  

TOTAL COMMON STOCK
(Cost $730,977,974)

         1,564,853,748  
     

 

 

  

 

      

CASH EQUIVALENT — 1.2%

      

First American Government Obligations Fund, Cl X, 5.250% (A)

      18,689,445        18,689,445  
     

 

 

  

TOTAL CASH EQUIVALENT
(Cost $18,689,445)

         18,689,445  
     

 

 

  

TOTAL INVESTMENTS — 99.5%
(Cost $749,667,419)

       $  1,583,543,193  
     

 

 

  

Percentages are based on Net Assets of $1,591,946,146.

*

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 January 31, 2024.

ADR — American Depositary Receipt

Cl — Class

PLC — Public Limited Company

ATF-QH-001-2100

 

3

THE ADVISORS’ INNER CIRCLE FUND   

CIBC ATLAS

MID CAP EQUITY FUND

JANUARY 31, 2024 (Unaudited)

 

 

 

SCHEDULE OF INVESTMENTS              

COMMON STOCK — 98.1%

        Shares          Value  
  

 

 

     

 

 

  

COMMUNICATION SERVICES — 2.8%

      

Live Nation Entertainment *

      46,129      $ 4,098,562  

Pinterest, Cl A *

      164,799        6,175,019  

Trade Desk, Cl A *

      169,796        11,619,140  
     

 

 

  
        21,892,721  
     

 

 

  

CONSUMER DISCRETIONARY — 15.2%

      

Academy Sports & Outdoors

      75,772        4,753,178  

Aptiv PLC *

      68,868        5,601,034  

AutoZone *

      6,027        16,647,358  

Chipotle Mexican Grill, Cl A *

      5,152        12,409,983  

Domino’s Pizza

      17,338        7,389,802  

Five Below *

      50,323        9,030,966  

Floor & Decor Holdings, Cl A *

      78,264        7,870,228  

Marriott International, Cl A

      55,355        13,270,254  

Ross Stores

      123,573        17,334,820  

Tractor Supply

      60,892        13,676,343  

Ulta Beauty *

      25,525        12,814,826  
     

 

 

  
          120,798,792  
     

 

 

  

CONSUMER STAPLES — 4.3%

      

Lamb Weston Holdings

      44,002        4,507,565  

Monster Beverage *

      187,499        10,316,195  

Sprouts Farmers Market *

      191,319        9,636,738  

US Foods Holding *

      209,026        9,617,286  
     

 

 

  
        34,077,784  
     

 

 

  

ENERGY — 3.0%

      

Cheniere Energy

      92,845        15,225,652  

Diamondback Energy

      56,660        8,710,908  
     

 

 

  
        23,936,560  
     

 

 

  

FINANCIALS — 9.2%

      

Ameriprise Financial

      56,753        21,953,763  

Ares Management, Cl A

      131,873        16,019,932  

FleetCor Technologies *

      45,790        13,275,894  

MSCI, Cl A

      16,687        9,989,172  

Tradeweb Markets, Cl A

      123,143        11,746,611  
     

 

 

  
        72,985,372  
     

 

 

  

HEALTH CARE — 17.0%

      

Agilent Technologies

      56,275        7,321,377  

Align Technology *

      47,527        12,704,918  

 

4

THE ADVISORS’ INNER CIRCLE FUND   

CIBC ATLAS

MID CAP EQUITY FUND

JANUARY 31, 2024 (Unaudited)

 

 

 

COMMON STOCK (continued)

        Shares          Value  
  

 

 

     

 

 

  

HEALTH CARE (continued)

      

Alnylam Pharmaceuticals *

      51,452      $ 8,896,565  

Avantor *

      298,674        6,866,515  

Bio-Rad Laboratories, Cl A *

      12,690        4,072,094  

Cencora, Cl A

      80,612        18,756,800  

Charles River Laboratories International *

      42,402        9,170,705  

Dexcom *

      138,966        16,863,524  

Edwards Lifesciences *

      65,463        5,136,882  

GE HealthCare Technologies

      50,353        3,693,896  

Humana

      20,202        7,637,568  

ICON PLC *

      42,215        11,012,627  

Revvity

      72,087        7,726,285  

Veeva Systems, Cl A *

      72,782        15,095,715  
     

 

 

  
        134,955,471  
     

 

 

  

INDUSTRIALS — 18.2%

      

AMETEK

      72,497        11,748,139  

Cintas

      28,657        17,325,162  

Copart *

      309,369        14,862,087  

Howmet Aerospace

      206,603        11,623,485  

Hubbell, Cl B

      33,083        11,101,662  

IDEX

      46,036        9,736,614  

Ingersoll Rand

      140,113        11,189,424  

Masco

      114,251        7,687,950  

Oshkosh

      52,746        5,807,335  

Pentair PLC

      56,660        4,145,812  

Regal Rexnord

      51,161        6,827,947  

Saia *

      11,803        5,318,196  

TransUnion

      95,147        6,583,221  

Waste Connections

      67,097        10,417,480  

WESCO International

      34,569        5,998,413  

Zurn Elkay Water Solutions

      156,373        4,636,459  
     

 

 

  
          145,009,386  
     

 

 

  

INFORMATION TECHNOLOGY — 23.4%

      

Amphenol, Cl A

      185,076        18,711,184  

ANSYS *

      17,992        5,898,317  

Cadence Design Systems *

      76,911        22,185,747  

Crowdstrike Holdings, Cl A *

      89,721        26,243,393  

Datadog, Cl A *

      148,583        18,489,669  

Entegris

      94,690        11,145,013  

HubSpot *

      24,279        14,834,469  

Keysight Technologies *

      62,869        9,635,303  

KLA

      15,413        9,155,939  

 

5

THE ADVISORS’ INNER CIRCLE FUND   

CIBC ATLAS

MID CAP EQUITY FUND

JANUARY 31, 2024 (Unaudited)

 

 

 

COMMON STOCK (continued)

        Shares          Value  
  

 

 

     

 

 

  

INFORMATION TECHNOLOGY (continued)

      

Marvell Technology

      140,859      $ 9,536,154  

Microchip Technology

      151,612        12,914,310  

ON Semiconductor *

      54,873        3,903,116  

Roper Technologies

      22,732        12,207,084  

Zscaler *

      48,035        11,320,408  
     

 

 

  
        186,180,106  
     

 

 

  

MATERIALS — 2.9%

      

Arcadium Lithium PLC *

      503,812        2,463,639  

Berry Global Group

      117,792        7,710,664  

Crown Holdings

      99,623        8,816,635  

FMC

      75,764        4,257,937  
     

 

 

  
        23,248,875  
     

 

 

  

REAL ESTATE — 2.1%

      

CoStar Group *

      81,075        6,768,141  

SBA Communications, Cl A ‡

      43,799        9,804,844  
     

 

 

  
        16,572,985  
     

 

 

  

TOTAL COMMON STOCK
(Cost $486,372,630)

         779,658,052  
     

 

 

  

 

      

CASH EQUIVALENT — 1.9%

      

First American Government Obligations Fund, Cl X, 5.250% (A)

      15,454,268        15,454,268  
     

 

 

  

TOTAL CASH EQUIVALENT
(Cost $15,454,268)

         15,454,268  
     

 

 

  

TOTAL INVESTMENTS — 100.0%
(Cost $501,826,898)

       $   795,112,320  
     

 

 

  

Percentages are based on Net Assets of $794,991,202.

*

Non-income producing security.

‡

Real Estate Investment Trust

(A)

The rate reported is the 7-day effective yield as of January 31, 2024.

Cl — Class

PLC — Public Limited Company

ATF-QH-002-2000

 

6

THE ADVISORS’ INNER CIRCLE FUND   

CIBC ATLAS

INCOME OPPORTUNITIES FUND

JANUARY 31, 2024 (Unaudited)

 

 

 

SCHEDULE OF INVESTMENTS              

COMMON STOCK — 60.9%

        Shares          Value  
  

 

 

     

 

 

  

COMMUNICATION SERVICES — 1.5%

      

Alphabet, Cl A *

      48,100      $ 6,738,810  

Walt Disney

      32,000        3,073,600  
     

 

 

  
        9,812,410  
     

 

 

  

CONSUMER DISCRETIONARY — 5.8%

      

Amazon.com *

      64,300        9,979,360  

Home Depot

      37,907        13,379,655  

McDonald’s

      12,250        3,585,820  

Service International

      98,546        6,614,407  

Vail Resorts

      23,414        5,197,908  
     

 

 

  
        38,757,150  
     

 

 

  

CONSUMER STAPLES — 3.0%

      

PepsiCo

      59,126        9,964,505  

Procter & Gamble

      64,069        10,067,802  
     

 

 

  
        20,032,307  
     

 

 

  

ENERGY — 2.2%

      

Cheniere Energy

      18,050        2,960,019  

Chevron

      53,809        7,933,061  

EQT

      100,000        3,540,000  
     

 

 

  
        14,433,080  
     

 

 

  

FINANCIALS — 12.0%

      

Ares Capital

      324,545        6,565,545  

Ares Management, Cl A

      67,951        8,254,688  

Blue Owl Capital, Cl A

      419,872        6,524,811  

CME Group, Cl A

      28,709        5,909,461  

Fidelity National Information Services

      64,500        4,015,770  

Golub Capital BDC

      215,919        3,294,924  

Hannon Armstrong Sustainable Infrastructure Capital ‡

      129,008        3,069,100  

JPMorgan Chase

      60,438        10,537,970  

S&P Global

      21,397        9,593,345  

US Bancorp

      187,000        7,767,980  

Visa, Cl A

      50,932        13,917,678  
     

 

 

  
           79,451,272  
     

 

 

  

HEALTH CARE — 6.5%

      

Abbott Laboratories

      90,000        10,183,500  

Johnson & Johnson

      64,386        10,230,936  

Novartis ADR

      69,438        7,184,750  

 

7

THE ADVISORS’ INNER CIRCLE FUND   

CIBC ATLAS

INCOME OPPORTUNITIES FUND

JANUARY 31, 2024 (Unaudited)

 

 

 

COMMON STOCK (continued)

        Shares          Value  
  

 

 

     

 

 

  

HEALTH CARE (continued)

      

UnitedHealth Group

      30,430      $ 15,572,248  
     

 

 

  
        43,171,434  
     

 

 

  

INDUSTRIALS — 7.1%

      

Automatic Data Processing

      18,003        4,424,777  

IDEX

      25,004        5,288,346  

Lockheed Martin

      15,435        6,627,943  

Republic Services, Cl A

      51,088        8,742,179  

Rollins

      133,250        5,771,057  

Union Pacific

      42,978        10,483,624  

United Parcel Service, Cl B

      42,892        6,086,375  
     

 

 

  
        47,424,301  
     

 

 

  

INFORMATION TECHNOLOGY — 16.0%

      

Apple

      172,168        31,747,779  

Broadcom

      10,809        12,754,620  

Cisco Systems

      135,081        6,778,365  

Microchip Technology

      104,536        8,904,376  

Microsoft

      92,758        36,878,726  

QUALCOMM

      61,215        9,091,040  
     

 

 

  
          106,154,906  
     

 

 

  

MATERIALS — 1.3%

      

Linde PLC

      21,314        8,628,547  
     

 

 

  

REAL ESTATE — 2.8%

      

Invitation Homes ‡

      120,395        3,964,607  

Prologis ‡

      66,626        8,440,848  

VICI Properties, Cl A ‡

      215,041        6,477,035  
     

 

 

  
        18,882,490  
     

 

 

  

UTILITIES — 2.7%

      

Brookfield Infrastructure, Cl A

      204,125        7,146,403  

NextEra Energy

      186,679        10,944,990  
     

 

 

  
        18,091,393  
     

 

 

  

TOTAL COMMON STOCK
(Cost $232,782,678)

         404,839,290  
     

 

 

  

 

      

CORPORATE OBLIGATIONS — 17.1%

      Face Amount       
  

 

 

     

COMMUNICATION SERVICES — 2.2%

      

Comcast
2.937%, 11/01/56

    $ 6,111,000        3,949,262  

 

8

THE ADVISORS’ INNER CIRCLE FUND   

CIBC ATLAS

INCOME OPPORTUNITIES FUND

JANUARY 31, 2024 (Unaudited)

 

 

 

CORPORATE OBLIGATIONS (continued)

      Face Amount          Value  
  

 

 

     

 

 

  

COMMUNICATION SERVICES (continued)

      

Discovery Communications
3.800%, 03/13/24

    $ 3,150,000      $ 3,140,806  

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

      5,000,000        4,554,351  

Verizon Communications
2.355%, 03/15/32

      2,441,000        2,027,201  

Warnermedia Holdings
3.428%, 03/15/24

      1,000,000        996,695  
     

 

 

  
        14,668,315  
     

 

 

  

CONSUMER DISCRETIONARY — 2.5%

      

Amazon.com
3.150%, 08/22/27

      3,300,000        3,170,993  

Ford Motor Credit
7.350%, 11/04/27

      3,000,000        3,155,638  

6.950%, 03/06/26

      2,000,000        2,044,903  

General Motors
6.800%, 10/01/27

      3,500,000        3,706,663  

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

      5,000,000        4,605,150  
     

 

 

  
        16,683,347  
     

 

 

  

ENERGY — 1.6%

      

Cheniere Energy Partners
4.500%, 10/01/29

      5,000,000        4,769,903  

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

      1,500,000        1,630,571  

Energy Transfer
5.550%, 05/15/34

      952,000        957,449  

Kinder Morgan MTN
7.800%, 08/01/31

      1,400,000        1,591,321  

Sabine Pass Liquefaction
5.750%, 05/15/24

      149,000        148,923  

5.625%, 03/01/25

      2,000,000        2,003,606  
     

 

 

  
           11,101,773  
     

 

 

  

FINANCIALS — 5.5%

      

Ally Financial
2.200%, 11/02/28

      5,000,000        4,288,317  

Ares Capital
3.875%, 01/15/26

      5,000,000        4,807,287  

 

9

THE ADVISORS’ INNER CIRCLE FUND   

CIBC ATLAS

INCOME OPPORTUNITIES FUND

JANUARY 31, 2024 (Unaudited)

 

 

 

CORPORATE OBLIGATIONS (continued)

      Face Amount          Value  
  

 

 

     

 

 

  

FINANCIALS (continued)

      

Bank of America
8.774%, TSFR3M + 3.397%(B)(C)

    $ 2,000,000      $ 2,009,312  

3.950%, 04/21/25

      5,750,000        5,657,641  

Goldman Sachs Group MTN
7.331%, TSFR3M + 2.012%, 10/28/27(B)

      3,000,000        3,067,317  

JPMorgan Chase
8.868%, TSFR3M + 3.562%(B)(C)

      1,500,000        1,504,398  

8.148%, TSFR3M + 2.842%(B)(C)

      1,000,000        1,002,514  

5.000%, TSFR3M + 3.380%(B)(C)

      2,000,000        1,981,431  

Morgan Stanley MTN
5.250%, SOFRRATE + 1.870%, 04/21/34(B)

      2,000,000        2,001,097  

OneMain Finance
3.500%, 01/15/27

      3,000,000        2,744,788  

Wells Fargo MTN
4.100%, 06/03/26

      3,000,000        2,943,215  

Western Union
2.850%, 01/10/25

      4,500,000        4,384,556  
     

 

 

  
           36,391,873  
     

 

 

  

HEALTH CARE — 1.1%

      

AbbVie
4.250%, 11/21/49

      3,500,000        3,074,007  

HCA
5.375%, 02/01/25

      3,050,000        3,047,192  

5.000%, 03/15/24

      1,250,000        1,248,744  
     

 

 

  
        7,369,943  
     

 

 

  

INDUSTRIALS — 1.2%

      

AerCap Ireland Capital DAC
3.000%, 10/29/28

      2,000,000        1,814,606  

Northrop Grumman
4.030%, 10/15/47

      3,000,000        2,538,013  

Quanta Services
2.900%, 10/01/30

      3,750,000        3,289,303  
     

 

 

  
        7,641,922  
     

 

 

  

INFORMATION TECHNOLOGY — 2.0%

      

Apple
3.850%, 08/04/46

      3,000,000        2,597,545  

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

      2,500,000        2,171,490  

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

      1,734,000        1,378,530  

 

10

THE ADVISORS’ INNER CIRCLE FUND   

CIBC ATLAS

INCOME OPPORTUNITIES FUND

JANUARY 31, 2024 (Unaudited)

 

 

 

CORPORATE OBLIGATIONS (continued)

      Face Amount          Value  
  

 

 

     

 

 

  

INFORMATION TECHNOLOGY (continued)

      

Kyndryl Holdings
2.050%, 10/15/26

    $ 1,000,000      $ 916,017  

Oracle
6.150%, 11/09/29

      3,000,000        3,201,545  

Salesforce
3.700%, 04/11/28

      3,000,000        2,940,787  
     

 

 

  
        13,205,914  
     

 

 

  

MATERIALS — 0.3%

      

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

      2,000,000        1,950,002  
     

 

 

  

REAL ESTATE — 0.7%

      

Boston Properties
2.750%, 10/01/26‡

      1,000,000        932,177  

VICI Properties
5.125%, 05/15/32‡

      4,000,000        3,822,514  
     

 

 

  
        4,754,691  
     

 

 

  

TOTAL CORPORATE OBLIGATIONS
(Cost $121,698,513)

           113,767,780  
     

 

 

  

 

      

U.S. TREASURY OBLIGATIONS — 10.6%

      

U.S. Treasury Bonds
4.375%, 05/15/41

      10,000,000        10,166,797  

4.125%, 08/15/53

      18,000,000        17,699,063  

3.875%, 05/15/43

      10,000,000        9,409,375  
     

 

 

  
        37,275,235  
     

 

 

  

U.S. Treasury Inflation Indexed Notes
0.500%, 01/15/28

      12,448,100        11,848,711  
     

 

 

  

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

      13,000,000        12,542,461  

1.625%, 05/15/31

      10,000,000        8,570,312  
     

 

 

  
        21,112,773  
     

 

 

  

TOTAL U.S. TREASURY OBLIGATIONS
(Cost $69,029,976)

         70,236,719  
     

 

 

  

 

11

THE ADVISORS’ INNER CIRCLE FUND   

CIBC ATLAS

INCOME OPPORTUNITIES FUND

JANUARY 31, 2024 (Unaudited)

 

 

 

MORTGAGE-BACKED SECURITIES — 5.8%

      Face Amount         Value  
  

 

 

    

 

 

  

AGENCY MORTGAGE-BACKED OBLIGATIONS — 5.8%

     

FHLMC
5.000%, 03/01/38

    $ 8,410,673     $ 8,432,642  

1.500%, 06/01/31

      6,209,224       5,712,829  

FNMA
6.000%, 01/01/53

      4,595,623       4,662,962  

6.000%, 07/01/53

      7,285,493       7,528,977  

4.500%, 07/01/52

      12,336,236       11,930,339  
    

 

 

  

TOTAL MORTGAGE-BACKED SECURITIES
(Cost $38,440,867)

        38,267,749  
    

 

 

  

 

     
PREFERRED STOCK — 0.3%    Shares        

FINANCIALS — 0.3%

     

Wells Fargo, 7.500% (C)

      1,700       2,057,000  
    

 

 

  

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

        2,057,000  
    

 

 

  

 

     
CASH EQUIVALENT — 5.4%             

First American Government Obligations Fund, Cl X, 5.250% (D)

      35,891,104       35,891,104  
    

 

 

  

TOTAL CASH EQUIVALENT
(Cost $35,891,104)

        35,891,104  
    

 

 

  

TOTAL INVESTMENTS — 100.1%
(Cost $499,909,676)

      $  665,059,642  
    

 

 

  

 

     

WRITTEN OPTIONS — (0.0%)

      Contracts       Value  
  

 

 

    

 

 

  

TOTAL WRITTEN OPTIONS — 0.0%
(Premiums Received $328,807)

      (2,508 )    $ (136,308 ) 
    

 

 

  

 

12

THE ADVISORS’ INNER CIRCLE FUND   

CIBC ATLAS

INCOME OPPORTUNITIES FUND

JANUARY 31, 2024 (Unaudited)

 

 

 

A list of the exchange traded option contracts held by the Fund at January 31, 2024, is as follows:

 

Description        

     Contracts       Notional Amount   Exercise
Price		      Expiration
Date		       Value 

WRITTEN OPTIONS — (0.0%)

 

           

Call Options

              

Alphabet*

      (245)        $ (2,698,892 )    $ 155        02/17/24       $ (3,920 ) 

Amazon.com*

      (643)         (7,846,643 )      170        02/17/24        (100,308 ) 

EQT*

      (1,000)         (2,783,457 )      42        02/17/24        (7,000 ) 

Microchip Technology*

      (300)         (2,009,278 )      100        02/17/24        (3,000 ) 

Walt Disney*

      (320)         (2,416,732 )      105        02/17/24        (22,080 ) 
     

 

 

 

        

 

 

 

Total Written Options

        $   (17,755,002 )           $  (136,308 ) 
     

 

 

 

        

 

 

 

Percentages are based on Net Assets of $664,240,788.

*

Non-income producing security.

‡

Real Estate Investment Trust

(A)

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 January 31, 2024 was $11,735,743 which represents 1.8% of Net Assets.

(B)

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.

(C)

Perpetual security with no stated maturity date.

(D)

The rate reported is the 7-day effective yield as of January 31, 2024.

ADR — American Depositary Receipt

BDC — Business Development Company

Cl — Class

DAC — Designated Activity Company

FHLMC — Federal Home Loan Mortgage Corporation

FNMA — Federal National Mortgage Association

MTN — Medium Term Note

PLC — Public Limited Company

SOFRRATE — Secured Overnight Financing Rate

TSFR3M — Term Secured Overnight Financing Rate 3 Month

ATF-QH-003-2000

 

13

THE ADVISORS’ INNER CIRCLE FUND   

CIBC ATLAS

ALL CAP GROWTH FUND

JANUARY 31, 2024 (Unaudited)

 

 

 

SCHEDULE OF INVESTMENTS              

COMMON STOCK** — 98.4%

        Shares          Value  
  

 

 

     

 

 

  

COMMUNICATION SERVICES — 4.3%

      

Live Nation Entertainment *

      35,665      $ 3,168,835  

Meta Platforms, Cl A *

      15,480        6,039,367  

Netflix *

      1,658        935,295  
     

 

 

  
        10,143,497  
     

 

 

  

CONSUMER DISCRETIONARY — 9.6%

      

Amazon.com *

      67,510        10,477,552  

Chipotle Mexican Grill, Cl A *

      2,664        6,416,963  

MercadoLibre *

      3,519        6,023,860  
     

 

 

  
        22,918,375  
     

 

 

  

CONSUMER STAPLES — 1.5%

      

elf Beauty *

      23,002        3,669,509  
     

 

 

  

FINANCIALS — 15.6%

      

Ares Management, Cl A

      36,696        4,457,830  

Blackstone, Cl A

      33,639        4,186,374  

Brown & Brown

      71,423        5,539,568  

Charles Schwab

      34,622        2,178,416  

Kinsale Capital Group

      6,457        2,567,109  

Mastercard, Cl A

      21,961        9,865,540  

S&P Global

      18,617        8,346,932  
     

 

 

  
        37,141,769  
     

 

 

  

HEALTH CARE — 12.7%

      

Bio-Techne

      16,003        1,125,331  

Danaher

      11,496        2,758,005  

Eli Lilly

      15,721        10,149,635  

ICON PLC *

      5,315        1,386,524  

IDEXX Laboratories *

      7,767        4,000,626  

Intuitive Surgical *

      17,959        6,792,453  

Zoetis, Cl A

      21,444        4,027,398  
     

 

 

  
          30,239,972  
     

 

 

  

INDUSTRIALS — 9.3%

      

Cintas

      8,146        4,924,827  

FTAI Aviation

      60,348        3,255,774  

Howmet Aerospace

      74,608        4,197,446  

Paylocity Holding *

      7,651        1,211,995  

TransDigm Group

      6,151        6,721,075  

 

14

THE ADVISORS’ INNER CIRCLE FUND   

CIBC ATLAS

ALL CAP GROWTH FUND

JANUARY 31, 2024 (Unaudited)

 

 

 

COMMON STOCK** (continued)

        Shares          Value  
  

 

 

     

 

 

  

INDUSTRIALS (continued)

      

United Rentals

      2,937      $ 1,836,800  
     

 

 

  
        22,147,917  
     

 

 

  

INFORMATION TECHNOLOGY — 38.1%

      

Adobe *

      3,519        2,173,968  

Advanced Micro Devices *

      35,341        5,926,332  

Amphenol, Cl A

      41,487        4,194,336  

Arista Networks *

      10,469        2,708,121  

ASML Holding, Cl G

      2,944        2,560,750  

Entegris

      48,473        5,705,272  

Gartner *

      12,158        5,561,555  

Globant *

      23,680        5,583,981  

Intuit

      7,672        4,843,564  

Marvell Technology

      26,578        1,799,331  

Microsoft

      13,255        5,269,923  

Monolithic Power Systems

      5,814        3,504,214  

NVIDIA

      14,158        8,710,993  

Palo Alto Networks *

      45,955        15,556,227  

Roper Technologies

      10,816        5,808,192  

ServiceNow *

      3,455        2,644,457  

Workday, Cl A *

      28,777        8,376,121  
     

 

 

  
          90,927,337  
     

 

 

  

MATERIALS — 5.9%

      

Martin Marietta Materials

      14,663        7,454,962  

Sherwin-Williams

      21,441        6,526,212  
     

 

 

  
        13,981,174  
     

 

 

  

REAL ESTATE — 1.4%

      

CoStar Group *

      41,043        3,426,270  
     

 

 

  

TOTAL COMMON STOCK
(Cost $126,196,637)

         234,595,820  
     

 

 

  

 

      

CASH EQUIVALENT — 1.5%

      

First American Government Obligations Fund, Cl X, 5.250% (A)

      3,601,219        3,601,219  
     

 

 

  

TOTAL CASH EQUIVALENT
(Cost $3,601,219)

         3,601,219  
     

 

 

  

TOTAL INVESTMENTS — 99.9%
(Cost $129,797,856)

       $ 238,197,039  
     

 

 

  

 

15

THE ADVISORS’ INNER CIRCLE FUND   

CIBC ATLAS

ALL CAP GROWTH FUND

JANUARY 31, 2024 (Unaudited)

 

 

 

Percentages are based on Net Assets of $238,388,288.

*

Non-income producing security.

**

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

(A)

The rate reported is the 7-day effective yield as of January 31, 2024.

Cl — Class

PLC — Public Limited Company

ATF-QH-005-1100

 

16

THE ADVISORS’ INNER CIRCLE FUND   

CIBC ATLAS

EQUITY INCOME FUND

JANUARY 31, 2024 (Unaudited)

 

 

 

SCHEDULE OF INVESTMENTS              

COMMON STOCK — 98.7%

        Shares          Value  
  

 

 

     

 

 

  

COMMUNICATION SERVICES — 1.5%

      

Comcast, Cl A

      101,399      $ 4,719,109  
     

 

 

  

CONSUMER DISCRETIONARY — 3.5%

      

Dick’s Sporting Goods

      32,104        4,785,743  

Home Depot

      10,160        3,586,074  

TJX

      26,874        2,550,611  
     

 

 

  
        10,922,428  
     

 

 

  

CONSUMER STAPLES — 0.7%

      

Sysco

      27,052        2,189,318  
     

 

 

  

ENERGY — 6.8%

      

Enterprise Products Partners

      543,549        14,545,371  

ONEOK

      97,081        6,625,779  
     

 

 

  
        21,171,150  
     

 

 

  

FINANCIALS — 17.1%

      

Ares Management, Cl A

      47,308        5,746,976  

Blackstone, Cl A

      106,251        13,222,937  

Brookfield

      163,338        6,481,252  

Brookfield Asset Management, Cl A

      45,020        1,809,354  

Charles Schwab

      95,545        6,011,691  

CME Group, Cl A

      43,294        8,911,637  

Goldman Sachs Group

      7,291        2,799,817  

JPMorgan Chase

      31,956        5,571,848  

Morgan Stanley

      28,896        2,520,887  
     

 

 

  
        53,076,399  
     

 

 

  

HEALTH CARE — 20.8%

      

Abbott Laboratories

      101,629        11,499,321  

AbbVie

      25,447        4,183,487  

AstraZeneca PLC ADR

      185,073        12,333,265  

Cardinal Health

      35,793        3,908,238  

Elevance Health

      25,143        12,406,562  

Eli Lilly

      23,145        14,942,643  

Merck

      44,416        5,364,565  
     

 

 

  
          64,638,081  
     

 

 

  

INDUSTRIALS — 10.9%

      

Broadridge Financial Solutions

      35,380        7,224,596  

FTAI Aviation

      133,146        7,183,227  

 

17

THE ADVISORS’ INNER CIRCLE FUND   

CIBC ATLAS

EQUITY INCOME FUND

JANUARY 31, 2024 (Unaudited)

 

 

 

COMMON STOCK (continued)

        Shares          Value  
  

 

 

     

 

 

  

INDUSTRIALS (continued)

      

L3Harris Technologies

      48,184      $ 10,042,509  

Parker-Hannifin

      13,592        6,313,484  

Robert Half

      36,994        2,942,503  
     

 

 

  
        33,706,319  
     

 

 

  

INFORMATION TECHNOLOGY — 19.7%

      

Accenture PLC, Cl A

      17,819        6,483,978  

Apple

      64,139        11,827,232  

Broadcom

      3,681        4,343,580  

Dell Technologies, Cl C

      53,352        4,421,814  

International Business Machines

      27,513        5,053,037  

Microchip Technology

      94,668        8,063,820  

Microsoft

      41,888        16,653,831  

Texas Instruments

      27,617        4,422,034  
     

 

 

  
        61,269,326  
     

 

 

  

REAL ESTATE — 11.4%

      

American Tower, Cl A ‡

      29,461        5,764,045  

Equinix ‡

      10,970        9,102,577  

Iron Mountain ‡

      87,858        5,932,172  

Prologis ‡

      46,164        5,848,517  

VICI Properties, Cl A ‡

      292,075        8,797,299  
     

 

 

  
        35,444,610  
     

 

 

  

UTILITIES — 6.3%

      

Brookfield Infrastructure Partners

      109,577        3,439,622  

Brookfield Renewable Partners

      328,836        8,553,024  

NextEra Energy

      98,073        5,750,020  

Xcel Energy

      30,931        1,851,839  
     

 

 

  
          19,594,505  
     

 

 

  

TOTAL COMMON STOCK
(Cost $204,698,051)

         306,731,245  
     

 

 

  
     

CASH EQUIVALENT — 0.6%

      

First American Government Obligations Fund, Cl X, 5.250% (A)

      1,790,356        1,790,356  
     

 

 

  

TOTAL CASH EQUIVALENT
(Cost $1,790,356)

         1,790,356  
     

 

 

  

TOTAL INVESTMENTS — 99.3%
(Cost $206,488,407)

       $ 308,521,601  
     

 

 

  

 

18

THE ADVISORS’ INNER CIRCLE FUND   

CIBC ATLAS

EQUITY INCOME FUND

JANUARY 31, 2024 (Unaudited)

 

 

 

Percentages are based on Net Assets of $310,808,029.

‡

Real Estate Investment Trust

(A)

The rate reported is the 7-day effective yield as of January 31, 2024.

ADR — American Depositary Receipt

Cl — Class

PLC — Public Limited Company

ATF-QH-006-1100

 

19

THE ADVISORS’ INNER CIRCLE FUND   

CIBC ATLAS

INTERNATIONAL GROWTH FUND

JANUARY 31, 2024 (Unaudited)

 

 

 

SCHEDULE OF INVESTMENTS              

COMMON STOCK — 96.7%

        Shares          Value  
  

 

 

     

 

 

  

AUSTRALIA — 2.2%

      

BHP Group

      400,213      $ 12,244,163  
     

 

 

  

BRAZIL — 2.7%

      

MercadoLibre *

      8,532          14,605,163  
     

 

 

  

CANADA — 3.5%

      

Brookfield

      244,076        9,684,936  

Canadian National Railway

      75,103        9,315,776  
     

 

 

  
        19,000,712  
     

 

 

  

CHINA — 5.3%

      

Alibaba Group Holding ADR

      74,691        5,390,449  

Alibaba Group Holding

      515,000        4,619,024  

Tencent Holdings

      315,741        10,959,787  

Yum China Holdings

      225,966        7,816,164  
     

 

 

  
        28,785,424  
     

 

 

  

DENMARK — 1.4%

      

Vestas Wind Systems *

      271,815        7,663,829  
     

 

 

  

FRANCE — 5.9%

      

Air Liquide

      58,567        10,959,796  

Airbus

      64,756        10,314,675  

LVMH Moet Hennessy Louis Vuitton

      13,358        11,114,598  
     

 

 

  
        32,389,069  
     

 

 

  

GERMANY — 6.2%

      

Heidelberg Materials

      128,204        11,838,882  

Siemens

      72,100        12,907,569  

Symrise, Cl A

      89,810        9,265,991  
     

 

 

  
        34,012,442  
     

 

 

  

HONG KONG — 1.9%

      

AIA Group

      1,290,000        10,116,722  
     

 

 

  

INDIA — 2.4%

      

HDFC Bank ADR

      234,817        13,029,995  
     

 

 

  

 

20

THE ADVISORS’ INNER CIRCLE FUND   

CIBC ATLAS

INTERNATIONAL GROWTH FUND

JANUARY 31, 2024 (Unaudited)

 

 

 

COMMON STOCK (continued)

        Shares          Value  
  

 

 

     

 

 

  

IRELAND — 2.4%

      

ICON PLC *

      50,541      $ 13,184,631  
     

 

 

  

ISRAEL — 2.2%

      

Check Point Software Technologies *

      76,218        12,113,327  
     

 

 

  

ITALY — 1.8%

      

Ferrari

      27,454        9,574,189  
     

 

 

  

JAPAN — 12.3%

      

Daikin Industries

      51,000        8,171,849  

FANUC

      324,000        8,962,610  

NIDEC CORP

      140,000        5,221,554  

Shiseido

      139,000        3,874,860  

Sony Group

      109,000        10,689,456  

Sysmex

      114,000        6,175,641  

Tokio Marine Holdings

      358,000        9,439,541  

Toyota Motor

      737,000        14,716,284  
     

 

 

  
          67,251,795  
     

 

 

  

MEXICO — 1.7%

      

Fomento Economico Mexicano ADR

      69,085        9,363,781  
     

 

 

  

NETHERLANDS — 2.5%

      

ASML Holding

      15,892        13,787,654  
     

 

 

  

NORWAY — 1.4%

      

Equinor

      275,932        7,896,371  
     

 

 

  

SINGAPORE — 2.4%

      

DBS Group Holdings

      546,000        12,932,175  
     

 

 

  

SPAIN — 4.8%

      

Amadeus IT Group

      152,929        10,717,278  

Banco Santander

      3,834,871        15,412,511  
     

 

 

  
        26,129,789  
     

 

 

  

SWEDEN — 1.9%

      

Assa Abloy, Cl B

      379,384        10,404,882  
     

 

 

  

 

21

THE ADVISORS’ INNER CIRCLE FUND   

CIBC ATLAS

INTERNATIONAL GROWTH FUND

JANUARY 31, 2024 (Unaudited)

 

 

 

COMMON STOCK (continued)

        Shares          Value  
  

 

 

     

 

 

  

SWITZERLAND — 8.1%

      

Alcon

      141,628      $ 10,661,050  

Chubb

      60,266        14,765,170  

Julius Baer Group

      100,463        5,469,351  

Novartis

      123,871        12,809,971  

Sandoz Group *

      24,533        841,366  
     

 

 

  
        44,546,908  
     

 

 

  

TAIWAN — 2.0%

      

Taiwan Semiconductor Manufacturing ADR

      97,950        11,064,432  
     

 

 

  

UNITED KINGDOM — 21.7%

      

AstraZeneca PLC

      95,901        12,714,238  

BAE Systems PLC

      1,044,573        15,560,435  

Compass Group PLC

      519,771        14,316,439  

Diageo PLC

      222,976        8,053,407  

InterContinental Hotels Group PLC

      171,695        16,268,614  

Lloyds Banking Group PLC

      17,492,026        9,376,682  

London Stock Exchange Group PLC

      141,410        15,995,443  

Reckitt Benckiser Group PLC

      108,500        7,844,637  

Shell PLC

      598,665          18,559,988  
     

 

 

  
        118,689,883  
     

 

 

  

TOTAL COMMON STOCK
(Cost $477,630,998)

         528,787,336  
     

 

 

  

 

      

CASH EQUIVALENT — 3.1%

      

First American Government Obligations Fund, Cl X, 5.250% (A)

      16,880,523        16,880,523  
     

 

 

  

TOTAL CASH EQUIVALENT
(Cost $16,880,523)

         16,880,523  
     

 

 

  

TOTAL INVESTMENTS — 99.8%
(Cost $494,511,521)

       $ 545,667,859  
     

 

 

  

Percentages are based on Net Assets of $546,589,741.

*

Non-income producing security.

(A)

The rate reported is the 7-day effective yield as of January 31, 2024.

ADR — American Depositary Receipt

Cl — Class

PLC — Public Limited Company

ATF-QH-007-1000

 

22