NPORT-EX 2 fp0092694-1_nportex.htm

THE ADVISORS’ INNER CIRCLE FUND

SANDS CAPITAL GLOBAL
GROWTH FUND
 

January 31, 2025 (Unaudited)

 

 

Schedule of Investments

Common Stock — 98.5%
      SHARES       VALUE  

Argentina — 4.1%

        

MercadoLibre *

     26,422     $ 50,788,104  

       

Canada — 5.0%

        

Dollarama

    186,030       17,603,954  

Shopify, Cl A *

     384,106       44,863,581  
              62,467,535  

Denmark — 2.1%

        

Pandora

    134,235       25,681,623  

         

Germany — 2.1%

        

CTS Eventim & KGaA

    19,472       1,898,739  

Zalando *

     662,256       24,680,868  
              26,579,607  

India — 7.3%

        

Asian Paints

    182,567       4,836,883  

Bajaj Finance

    321,140       29,118,794  

HDFC Bank

    1,300,738       25,459,838  

Titan

    817,906       32,821,420  
              92,236,935  

Japan — 3.1%

        

Keyence

    91,600       39,452,927  

         

Netherlands — 6.5%

        

Adyen *

     26,584       42,909,608  

ASML Holding, Cl G

    24,154       17,857,294  

IMCD

    131,825       20,643,811  
              81,410,713  

Sweden — 2.5%

        

Spotify Technology *

     58,045       31,840,585  

         

Switzerland — 2.2%

        

Sika

    107,164       27,215,794  

         

Taiwan — 2.3%

        

Taiwan Semiconductor Manufacturing ADR

    139,897       29,283,240  

 

   
   

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THE ADVISORS’ INNER CIRCLE FUND

SANDS CAPITAL GLOBAL
GROWTH FUND
 

January 31, 2025 (Unaudited)

 

 

Common Stock — continued

 

     SHARES       VALUE  

United States — 61.3%

        

Airbnb, Cl A *

     67,194     $ 8,813,837  

Alphabet, Cl A

    224,354       45,772,703  

Alphabet, Cl C

    44,177       9,082,791  

Amazon.com *

     333,638       79,299,080  

Atlassian, Cl A *

     114,771       35,209,447  

Axon Enterprise *

     90,027       58,713,809  

Block, Cl A *

     354,941       32,235,742  

Builders FirstSource *

     74,627       12,483,604  

Cloudflare, Cl A *

     224,677       31,095,297  

Dexcom *

     357,581       31,048,758  

DoorDash, Cl A *

     233,542       44,099,736  

Entegris

    37,866       3,844,914  

Flutter Entertainment *

     150,707       40,234,248  

iRhythm Technologies *

     213,874       23,280,185  

Netflix *

     61,918       60,479,026  

NIKE, Cl B

    264,681       20,353,969  

NVIDIA

    667,700       80,170,739  

Repligen *

     91,526       15,212,536  

Samsara, Cl A *

     134,612       6,932,518  

ServiceNow *

     33,440       34,054,627  

Snowflake, Cl A *

     123,219       22,365,481  

Tetra Tech

    291,354       10,721,827  

Visa, Cl A

    190,137       64,988,827  
              770,493,701  

Total Common Stock

               

(Cost $661,797,736)

            1,237,450,764  

Total Investments— 98.5%

(Cost $661,797,736)

           $ 1,237,450,764  

 

 

Percentages are based on Net Assets of $1,256,278,164.

*

Non-income producing security.

 

ADR — American Depositary Receipt

Cl — Class

 

SAN-QH-001-3000

 

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