NPORT-EX 2 fp0090228-2_nportex.htm SCHEDULE F

THE ADVISORS’ INNER CIRCLE FUND

CAMBIAR OPPORTUNITY FUND

July 31, 2024 (Unaudited)

 
 

 

SCHEDULE OF INVESTMENTS

COMMON STOCK — 97.6%

   

Shares

    

Value

  

AEROSPACE/DEFENSE EQUIPMENT — 6.0%

Airbus ADR

    280,000     $ 10,584,000  

RTX

    115,000       13,511,350  
      24,095,350  

AIRLINES — 3.0%

Delta Air Lines

    275,000       11,830,500  
         

BANKS — 5.2%

JPMorgan Chase

    53,000       11,278,400  

PNC Financial Services Group

    54,000       9,779,400  
      21,057,800  

BEVERAGES — 5.0%

Constellation Brands, Cl A

    44,000       10,787,040  

Diageo ADR

    75,000       9,356,250  
      20,143,290  

BROADLINE RETAIL — 2.9%

Amazon.com *

     62,000       11,592,760  
         

CAPITAL MARKETS — 8.2%

CME Group, Cl A

    60,000       11,622,600  

Goldman Sachs Group

    25,000       12,725,750  

Intercontinental Exchange

    55,000       8,335,800  
      32,684,150  

CHEMICALS — 5.0%

Corteva

    140,000       7,854,000  

PPG Industries

    94,000       11,936,120  
      19,790,120  

CONSUMER FINANCE — 2.0%

American Express

    32,000       8,097,280  
         

CONSUMER STAPLES DISTRIBUTION & RETAIL — 2.7%

Sysco

    140,000       10,731,000  
         

ELECTRONIC EQUIPMENT INSTRUMENTS & COMPONENTS — 2.9%

TE Connectivity

    75,000       11,574,750  
         

FINANCIAL SERVICES — 2.0%

Mastercard, Cl A

    17,000       7,883,070  
         

GROUND TRANSPORTATION — 3.7%

Uber Technologies *

     71,000       4,577,370  

Union Pacific

    41,000       10,115,930  
      14,693,300  

HEALTH CARE EQUIPMENT & SERVICES — 2.9%

Medtronic

    142,000       11,405,440  
         

HEALTH CARE PROVIDER & SERVICES — 3.1%

Labcorp Holdings

    58,000       12,495,520  
         

HEALTH CARE PROVIDERS & SERVICES — 2.8%

Centene *

     146,000       11,230,320  
         

HOUSEHOLD PRODUCTS — 1.5%

Colgate-Palmolive

    60,000       5,951,400  
         

INSURANCE — 3.0%

Chubb

    44,000       12,129,040  
         

INTERACTIVE MEDIA & SERVICES — 3.1%

Alphabet, Cl A

    72,000       12,350,880  
         

LIFE SCIENCES TOOLS & SERVICES — 2.3%

Waters *

     27,000       9,079,560  
         

MEDIA — 3.1%

Comcast, Cl A

    300,000       12,381,000  
         

 

1

 

 

THE ADVISORS’ INNER CIRCLE FUND

CAMBIAR OPPORTUNITY FUND

July 31, 2024 (Unaudited)

 
 

 

COMMON STOCK — continued

 

  

Shares

    

Value

  

MULTI-UTILITIES — 3.3%

Sempra

    165,000     $ 13,209,900  
         

OIL, GAS & CONSUMABLE FUELS — 10.4%

Cenovus Energy

    635,000       12,782,550  

Chevron

    74,000       11,874,780  

ConocoPhillips

    82,000       9,118,400  

Williams

    185,000       7,943,900  
      41,719,630  

PHARMACEUTICALS — 4.7%

Bristol-Myers Squibb

    183,000       8,703,480  

Johnson & Johnson

    65,000       10,260,250  
      18,963,730  

SEMICONDUCTORS & SEMICONDUCTOR EQUIPMENT — 6.7%

Applied Materials

    37,000       7,851,400  

Marvell Technology

    108,000       7,233,840  

Texas Instruments

    58,000       11,820,980  
      26,906,220  

SPECIALTY RETAIL — 2.1%

TJX

    76,000       8,589,520  
         

TOTAL COMMON STOCK

(Cost $282,659,088)

            390,585,530  

SHORT-TERM INVESTMENT — 2.4%

                 

First American Treasury Obligation Fund 5.322% (A)

                

(Cost $9,712,861)

    9,712,861       9,712,861  

TOTAL INVESTMENTS— 100.0%

(Cost $292,371,949)

           $ 400,298,391  

 

 

Percentages are based on Net Assets of $400,478,554.

*

Non-income producing security.

(A)

The rate shown is the 7-day effective yield as of July 31, 2024.

 

 

ADR — American Depository Receipt

 

Cl — Class

 

CMB-QH-007-3300

2

 

 

THE ADVISORS’ INNER CIRCLE FUND

Cambiar SMID Fund

July 31, 2024 (Unaudited)

 
 

 

SCHEDULE OF INVESTMENTS

COMMON STOCK — 99.5%

   

Shares

    

Value

  

AIR FREIGHT & LOGISTICS — 2.5%

Expeditors International of Washington

    35,345     $ 4,411,763  
         

AUTO COMPONENTS — 2.7%

Gentex

    148,295       4,606,043  
         

BANKS — 3.0%

BOK Financial

    49,975       5,139,429  
         

BIOTECHNOLOGY — 2.1%

Incyte *

     55,800       3,630,906  
         

BUILDING PRODUCTS — 2.9%

Masco

    64,705       5,037,284  
         

CAPITAL MARKETS — 2.5%

Cboe Global Markets

    23,675       4,344,599  
         

CONTAINERS & PACKAGING — 2.9%

Packaging Corp of America

    25,320       5,060,708  
         

ELECTRIC UTILITIES — 3.1%

Pinnacle West Capital

    62,830       5,377,620  
         

ELECTRONIC EQUIPMENT, INSTRUMENTS & COMPONENTS — 4.8%

IPG Photonics *

     38,485       3,094,194  

Littelfuse

    19,695       5,260,731  
      8,354,925  

FINANCIAL SERVICES — 5.4%

Euronet Worldwide *

     47,825       4,877,672  

WEX *

     24,445       4,484,435  
      9,362,107  

FOOD PRODUCT — 1.9%

Lamb Weston Holdings

    53,850       3,232,077  
         

GAS UTILITIES — 2.9%

Atmos Energy

    39,145       5,005,862  
         

GROUND TRANSPORTATION — 2.7%

JB Hunt Transport Services

    27,050       4,683,708  
         

HEALTH CARE EQUIPMENT & SUPPLIES — 2.0%

Dentsply Sirona

    129,415       3,512,323  
         

HEALTH CARE PROVIDERS & SERVICES — 8.5%

HealthEquity *

     60,750       4,767,660  

Molina Healthcare *

     14,035       4,789,724  

Quest Diagnostics

    35,635       5,070,861  
      14,628,245  

INDUSTRIAL REITS — 3.1%

Americold Realty Trust

    178,170       5,325,502  
         

INSURANCE — 11.5%

American Financial Group

    37,505       4,911,655  

Arch Capital Group *

     41,100       3,936,558  

Fidelity National Financial

    98,805       5,474,785  

Reinsurance Group of America, Cl A

    24,590       5,543,324  
      19,866,322  

IT SERVICES — 5.0%

Amdocs

    49,700       4,347,259  

EPAM Systems *

     19,835       4,267,104  
      8,614,363  

LIFE SCIENCES TOOLS & SERVICES — 7.9%

Bruker

    59,985       4,109,572  

Charles River Laboratories International *

     17,280       4,218,048  

Waters *

     15,945       5,361,985  
      13,689,605  

 

3

 

 

THE ADVISORS’ INNER CIRCLE FUND

Cambiar SMID Fund

July 31, 2024 (Unaudited)

 
 

 

COMMON STOCK — continued

 

  

Shares

    

Value

  

MACHINERY — 5.3%

Lincoln Electric Holdings

    23,985     $ 4,926,759  

Toro

    43,480       4,162,340  
      9,089,099  

OIL, GAS & CONSUMABLE FUELS — 6.1%

Magnolia Oil & Gas, Cl A

    195,390       5,322,423  

Targa Resources

    39,345       5,322,592  
      10,645,015  

PROFESSIONAL SERVICES — 2.8%

Maximus

    51,830       4,814,489  
         

RETAIL REITS — 2.7%

NNN REIT

    104,090       4,672,600  
         

SOFTWARE — 2.5%

Dolby Laboratories, Cl A

    54,495       4,292,026  
         

WATER UTILITIES — 2.7%

Essential Utilities

    117,220       4,764,993  
         

TOTAL COMMON STOCK

(Cost $138,299,516)

            172,161,613  

TOTAL INVESTMENTS— 99.5%

(Cost $138,299,516)

           $ 172,161,613  

 

 

Percentages are based on Net Assets of $173,059,233.

*

Non-income producing security.

 

Cl — Class

 

REIT — Real Estate Investment Trust

 

CMB-QH-011-2600

4

 

 

THE ADVISORS’ INNER CIRCLE FUND

CAMBIAR SMALL CAP FUND

July 31, 2024 (Unaudited)

 
 

 

SCHEDULE OF INVESTMENTS

COMMON STOCK — 98.4%

   

Shares

    

Value

  

AIR FREIGHT & LOGISTICS — 2.3%

Hub Group, Cl A

    49,000     $ 2,291,730  
         

AUTO COMPONENTS — 2.0%

Gentex

    64,000       1,987,840  
         

BANKS — 9.9%

Prosperity Bancshares

    32,200       2,335,144  

Texas Capital Bancshares *

     37,000       2,445,700  

United Bankshares

    62,300       2,425,339  

United Community Banks

    81,600       2,525,520  
      9,731,703  

BEVERAGES — 1.4%

Duckhorn Portfolio *

     189,000       1,372,140  
         

BIOTECHNOLOGY — 2.1%

Exelixis *

     90,000       2,110,500  
         

CHEMICALS — 2.1%

Cabot

    21,000       2,106,090  
         

COMMERCIAL SERVICES & SUPPLIES — 1.6%

Healthcare Services Group *

     143,000       1,634,490  
         

DIVERSIFIED CONSUMER SERVICES — 2.5%

Frontdoor *

     61,500       2,426,790  
         

ELECTRIC UTILITIES — 2.4%

IDACORP

    24,000       2,346,000  
         

ELECTRONICS EQUIPMENT INSTRUMENTS & COMPONENTS — 2.5%

Advanced Energy Industries

    21,000       2,443,770  
         

HEALTH CARE EQUIPMENT & SERVICES — 3.1%

Globus Medical, Cl A *

     42,000       3,022,320  
         

HEALTH CARE PROVIDERS & SERVICES — 10.7%

Addus HomeCare *

     22,000       2,669,920  

AMN Healthcare Services *

     29,000       1,960,980  

HealthEquity *

     28,000       2,197,440  

Innovage Holding *

     286,000       1,796,080  

US Physical Therapy

    19,500       1,901,250  
      10,525,670  

HEALTH CARE TECHNOLOGY — 2.5%

HealthStream

    84,000       2,495,640  
         

HOTELS, RESTAURANTS & LEISURE — 2.8%

Monarch Casino & Resort

    35,000       2,739,800  
         

INDUSTRIAL REITS — 2.7%

Innovative Industrial Properties, Cl A

    21,500       2,640,415  
         

INSURANCE — 10.3%

Axis Capital Holdings

    38,000       2,878,500  

First American Financial

    40,200       2,435,316  

Reinsurance Group of America, Cl A

    11,700       2,637,531  

RenaissanceRe Holdings

    9,800       2,272,718  
      10,224,065  

LEISURE PRODUCTS — 1.7%

Johnson Outdoors, Cl A

    40,000       1,696,000  
         

MACHINERY — 4.1%

Alamo Group

    10,800       2,081,376  

Atmus Filtration Technologies

    63,000       1,942,920  
      4,024,296  

MULTI-UTILITIES — 2.5%

Avista

    64,000       2,507,520  
         

 

5

 

 

THE ADVISORS’ INNER CIRCLE FUND

CAMBIAR SMALL CAP FUND

July 31, 2024 (Unaudited)

 
 

 

COMMON STOCK — continued

 

  

Shares

    

Value

  

OIL, GAS & CONSUMABLE FUELS — 2.8%

Magnolia Oil & Gas, Cl A

    102,000     $ 2,778,480  
         

PROFESSIONAL SERVICES — 9.8%

ASGN *

     22,000       2,082,740  

Forrester Research *

     71,000       1,433,490  

Insperity

    19,500       2,003,040  

NV5 Global *

     22,000       2,269,080  

WNS Holdings *

     31,750       1,891,665  
      9,680,015  

REAL ESTATE MANAGEMENT & DEVELOPMENT — 2.1%

Marcus & Millichap

    52,000       2,059,720  
         

RETAIL REITS — 1.8%

NETSTREIT

    111,000       1,828,170  
         

SEMICONDUCTORS & SEMICONDUCTOR EQUIPMENT — 9.9%

Diodes *

     28,800       2,252,160  

Rambus *

     36,000       1,851,840  

Tower Semiconductor *

     69,200       2,823,360  

Universal Display

    12,700       2,827,274  
      9,754,634  

SOFTWARE — 2.8%

Envestnet *

     45,000       2,789,100  
         

TOTAL COMMON STOCK

(Cost $80,270,050)

            97,216,898  

SHORT-TERM INVESTMENT — 1.2%

                 

First American Treasury Obligation Fund 5.322% (A)

                

(Cost $1,164,579)

    1,164,579       1,164,579  

TOTAL INVESTMENTS— 99.6%

(Cost $81,434,629)

           $ 98,381,477  

 

Percentages are based on Net Assets of $98,730,054.

*

Non-income producing security.

(A)

The rate shown is the 7-day effective yield as of July 31, 2024.

 

Cl — Class

 

REIT — Real Estate Investment Trust

 

 

CMB-QH-009-3300

6

 

 

THE ADVISORS’ INNER CIRCLE FUND

Cambiar International Equity Fund

July 31, 2024 (Unaudited)

 
 

 

SCHEDULE OF INVESTMENTS

COMMON STOCK — 91.5%
   

Shares

    

Value

  

AUSTRALIA — 2.0%

Santos

    541,000     $ 2,820,181  
                 

BELGIUM — 4.6%

KBC Group

    48,000       3,712,608  

UCB

    17,000       2,840,606  
              6,553,214  

CANADA — 1.6%

Agnico Eagle Mines

    30,000       2,315,100  
                 

FRANCE — 10.8%

Air Liquide

    9,450       1,724,235  

Airbus

    18,200       2,754,149  

Capgemini

    15,500       3,077,117  

LVMH Moet Hennessy Louis Vuitton

    2,800       1,975,017  

Thales

    16,000       2,543,259  

TotalEnergies

    47,000       3,170,921  
              15,244,698  

GERMANY — 13.8%

Deutsche Post

    76,000       3,390,024  

Infineon Technologies

    73,000       2,535,889  

Knorr-Bremse

    38,200       3,071,888  

Merck KGaA

    14,800       2,644,354  

Puma

    41,000       2,034,550  

RWE

    77,000       2,873,713  

SAP

    14,000       2,959,887  
              19,510,305  

HONG KONG — 1.4%

AIA Group

    288,000       1,926,392  
                 

IRELAND — 2.1%

Bank of Ireland Group

    262,000       2,967,137  
                 

JAPAN — 15.5%

Chugai Pharmaceutical

    57,000       2,487,623  

Mitsubishi Estate

    209,000       3,562,184  

MonotaRO

    268,000       3,788,529  

NIDEC CORP

    60,000       2,639,442  

Nintendo

    47,000       2,597,145  

Sony Group

    24,900       2,211,584  

Terumo

    148,000       2,653,398  

Tokyo Electron Ltd.

    9,500       1,987,851  
              21,927,756  

NETHERLANDS — 3.5%

ING Groep

    272,000       4,937,063  
                 

NORWAY — 1.8%

Equinor ADR

    94,000       2,496,640  
                 

SINGAPORE — 4.1%

DBS Group Holdings

    110,100       3,017,118  

Singapore Telecommunications

    1,210,000       2,794,099  
              5,811,217  

SWEDEN — 1.9%

Epiroc, Cl A

    141,000       2,631,820  
                 

SWITZERLAND — 9.9%

Barry Callebaut

    1,200       1,930,814  

Nestle

    19,000       1,924,560  

Novartis

    39,000       4,353,486  

Roche Holding

    11,700       3,787,988  

Temenos

    29,000       2,013,718  
              14,010,566  

 

7

 

 

THE ADVISORS’ INNER CIRCLE FUND

Cambiar International Equity Fund

July 31, 2024 (Unaudited)

 
 

 

COMMON STOCK — continued

 

  

Shares

    

Value

  

TAIWAN — 1.3%

Taiwan Semiconductor Manufacturing ADR

    11,000     $ 1,823,800  
                 

UNITED KINGDOM — 17.2%

Barclays

    1,359,000       4,063,811  

Bunzl

    61,000       2,555,853  

CNH Industrial

    258,000       2,747,700  

Diageo

    102,000       3,173,717  

Haleon

    586,000       2,628,437  

Intertek Group

    43,000       2,792,322  

London Stock Exchange Group

    28,100       3,420,481  

SSE

    123,000       2,976,811  
              24,359,132  

TOTAL COMMON STOCK

               

(Cost $109,593,544)

            129,335,021  

PREFERRED STOCK — 1.7%
                 

GERMANY — 1.7%

Dr Ing hc F Porsche AG (A)

     33,181       2,498,555  
                 

TOTAL PREFERRED STOCK

                

(Cost $2,750,331)

            2,498,555  

SHORT-TERM INVESTMENT — 1.1%
                 

First American Treasury Obligation Fund 5.322% (B)

                

(Cost $1,513,652)

    1,513,652       1,513,652  

TOTAL INVESTMENTS — 94.3%

(Cost $113,857,527)

          $ 133,347,228  

 

Percentages are based on Net Assets of $141,397,664.

(A)

There is currently no stated interest rate.

(B)

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

 

ADR — American Depositary Receipt

 

Ltd. — Limited

 

CMB-QH-008-3300

 

8