N-Q 1 d685968dnq.htm AIC II WESTFIELD AIC II Westfield

 

 

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

 

 

FORM N-Q

 

 

QUARTERLY SCHEDULE OF PORTFOLIO HOLDINGS OF REGISTERED

MANAGEMENT INVESTMENT COMPANY

Investment Company Act file number 811-07102

 

 

The Advisors’ Inner Circle Fund II

(Exact name of registrant as specified in charter)

 

 

SEI Investments

One Freedom Valley Drive

Oaks, PA 19456

(Address of principal executive offices) (Zip code)

 

 

SEI Investments

One Freedom Valley Drive

Oaks, PA 19456

(Name and address of agent for service)

 

 

Registrant’s telephone number, including area code: 1-877-446-3863

Date of fiscal year end: October 31, 2019

Date of reporting period: January 31, 2019

 

 

 

Item 1.

Schedule of Investments

The registrant’s schedules as of the close of the reporting period, as set forth in §§ 210.12-12 through 210.12-14 of Regulation S-X [17 CFR §§ 210-12.12-12.14], are attached hereto.

 

THE ADVISORS’ INNER CIRCLE FUND II        

WESTFIELD CAPITAL DIVIDEND

GROWTH FUND

JANUARY 31, 2019 (Unaudited)

 

 

 SCHEDULE OF INVESTMENTS

 

 COMMON STOCK — 97.7%

 

          Shares            Value

COMMUNICATION SERVICES — 2.7%

     

Verizon Communications

     56,210      $ 3,094,923  
    

 

 

 

CONSUMER DISCRETIONARY — 9.2%

     

Home Depot

     12,020                2,206,030  

Royal Caribbean Cruises

     26,210        3,146,511  

Target

     28,580        2,086,340  

Tiffany

     21,290        1,889,062  

Vail Resorts

     6,175        1,162,505  
    

 

 

 

       10,490,448  
    

 

 

 

CONSUMER STAPLES — 7.6%

     

Archer-Daniels-Midland

     46,310        2,079,319  

Mowi ASA ADR

     123,805        2,725,567  

Walmart

     39,700        3,804,451  
    

 

 

 

       8,609,337  
    

 

 

 

ENERGY — 5.7%

     

Marathon Petroleum

     58,355        3,866,602  

Occidental Petroleum

     38,420        2,565,688  
    

 

 

 

       6,432,290  
    

 

 

 

FINANCIALS — 12.7%

     

CME Group, Cl A

     19,110        3,483,371  

Fifth Third Bancorp

     90,110        2,416,750  

JPMorgan Chase

     27,060        2,800,710  

Progressive

     48,880        3,289,135  

Raymond James Financial

     30,930        2,489,865  
    

 

 

 

       14,479,831  
    

 

 

 

HEALTH CARE — 13.2%

     

Abbott Laboratories

     54,910        4,007,332  

Bristol-Myers Squibb

     55,420        2,736,086  

Merck

     36,700        2,731,581  

Quest Diagnostics

     32,089        2,802,974  

STERIS

     23,440        2,673,566  
    

 

 

 

       14,951,539  
    

 

 

 

INDUSTRIALS — 13.0%

     

Boeing

     9,590        3,698,096  

Cummins

     15,130        2,225,774  

Delta Air Lines

     46,890        2,317,773  

 

1

THE ADVISORS’ INNER CIRCLE FUND II        

WESTFIELD CAPITAL DIVIDEND

GROWTH FUND

JANUARY 31, 2019 (Unaudited)

 

 

 COMMON STOCK — continued

 

          Shares            Value

INDUSTRIALS — continued

     

Illinois Tool Works

     17,840      $ 2,449,610  

Ryder System

     32,460                1,879,759  

Union Pacific

     14,150        2,250,840  
    

 

 

 

       14,821,852  
    

 

 

 

INFORMATION TECHNOLOGY — 18.9%

     

Apple

     20,020        3,332,129  

Broadcom

     8,850        2,374,013  

Fidelity National Information Services

     26,890        2,810,812  

Jack Henry & Associates

     19,932        2,661,918  

Microchip Technology

     22,480        1,806,718  

Microsoft

     51,568        5,385,246  

Texas Instruments

     30,480        3,068,726  
    

 

 

 

       21,439,562  
    

 

 

 

MATERIALS — 7.7%

     

Avery Dennison

     30,050        3,138,722  

BHP Billiton ADR

     33,540        1,716,913  

Chemours Co/The

     60,590        2,166,092  

DowDuPont

     32,518        1,749,794  
    

 

 

 

       8,771,521  
    

 

 

 

REAL ESTATE — 4.2%

     

Alexandria Real Estate Equities †

     21,060        2,773,813  

Newmark Group Inc, Cl A

     193,160        2,018,522  
    

 

 

 

       4,792,335  
    

 

 

 

UTILITIES — 2.8%

     

NextEra Energy

     17,780        3,182,264  
    

 

 

 

TOTAL COMMON STOCK

     

(Cost $92,934,742)

        111,065,902  
    

 

 

 

TOTAL INVESTMENTS — 97.7%

     

(Cost $92,934,742)

      $ 111,065,902  
    

 

 

 

 

 

Percentages are based on Net Assets of $113,683,485.

†

Real Estate Investment Trust

 

2

THE ADVISORS’ INNER CIRCLE FUND II        

WESTFIELD CAPITAL DIVIDEND

GROWTH FUND

JANUARY 31, 2019 (Unaudited)

 

 

ADR — American Depositary Receipt

Cl — Class

As of January 31, 2019, all of the Fund’s investments were considered Level 1, in accordance with the authoritative guidance on fair value measurements and disclosure under U.S. GAAP.

For the period ended January 31, 2019, there were no transfers between Level 1 and Level 2 assets and liabilities. For the period ended January 31, 2019, there were no Level 3 securities held by the Fund.

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.

WCM-QH-002-1200

 

3

THE ADVISORS’ INNER CIRCLE FUND II        

WESTFIELD CAPITAL LARGE

CAP GROWTH FUND

JANUARY 31, 2019 (Unaudited)

 

 

 SCHEDULE OF INVESTMENTS

 

 COMMON STOCK — 99.3%‡

 

          Shares            Value

COMMUNICATION SERVICES — 15.3%

     

Alphabet, Cl C *

     1,543      $ 1,722,559  

Alphabet, Cl A *

     1,165                1,311,662  

Charter Communications, Cl A *

     2,808        929,588  

Facebook, Cl A *

     4,735        789,277  

Netflix *

     3,290        1,116,955  

T-Mobile US *

     11,560        804,807  

Walt Disney

     7,550        841,976  
    

 

 

 

       7,516,824  
    

 

 

 

CONSUMER DISCRETIONARY — 14.3%

     

Amazon.com *

     1,723        2,961,372  

Home Depot

     6,815        1,250,757  

Marriott International, Cl A

     6,320        723,830  

McDonald’s

     6,230        1,113,799  

NIKE, Cl B

     11,780        964,546  
    

 

 

 

       7,014,304  
    

 

 

 

CONSUMER STAPLES — 0.9%

     

Conagra Brands

     20,750        449,030  
    

 

 

 

ENERGY — 4.1%

     

EOG Resources

     9,210        913,632  

Marathon Petroleum

     16,685        1,105,548  
    

 

 

 

       2,019,180  
    

 

 

 

FINANCIALS — 4.9%

     

Bank of America

     25,840        735,665  

Progressive

     11,760        791,331  

S&P Global

     4,619        885,231  
    

 

 

 

       2,412,227  
    

 

 

 

HEALTH CARE — 16.3%

     

Biogen *

     1,938        646,866  

Bristol-Myers Squibb

     26,980        1,332,003  

Cooper

     3,275        912,939  

Mettler-Toledo International *

     1,768        1,128,267  

Thermo Fisher Scientific

     4,050        994,963  

UnitedHealth Group

     7,000        1,891,400  

 

1

THE ADVISORS’ INNER CIRCLE FUND II        

WESTFIELD CAPITAL LARGE

CAP GROWTH FUND

JANUARY 31, 2019 (Unaudited)

 

 

 COMMON STOCK — continued

      

 

          Shares            Value

HEALTH CARE — continued

     

Vertex Pharmaceuticals *

     5,520      $ 1,053,823  
    

 

 

 

               7,960,261  
    

 

 

 

INDUSTRIALS — 13.0%

     

AMETEK

     13,360        973,944  

Boeing

     5,354        2,064,609  

Caterpillar

     5,290        704,416  

Illinois Tool Works

     5,595        768,250  

Ingersoll-Rand

     8,770        877,351  

Union Pacific

     6,010        956,011  
    

 

 

 

       6,344,581  
    

 

 

 

INFORMATION TECHNOLOGY — 30.5%

     

Adobe *

     4,515        1,118,907  

Apple

     15,156        2,522,565  

Applied Materials

     26,220        1,024,678  

Broadcom

     3,225        865,106  

International Business Machines

     5,770        775,604  

MasterCard, Cl A

     5,570        1,175,994  

Micron Technology *

     14,060        537,373  

Microsoft

     16,430        1,715,785  

PayPal Holdings *

     10,590        939,968  

salesforce.com inc *

     9,910        1,506,023  

ServiceNow *

     5,075        1,116,601  

Visa, Cl A

     12,220        1,649,822  
    

 

 

 

       14,948,426  
    

 

 

 

TOTAL COMMON STOCK

     

(Cost $31,665,627)

        48,664,833  
    

 

 

 

TOTAL INVESTMENTS — 99.3%

     

(Cost $31,665,627)

      $ 48,664,833  
    

 

 

 

 

 

Percentages are based on Net Assets of $49,012,642.

*

Non-income producing security.

‡

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

Cl — Class

 

2

THE ADVISORS’ INNER CIRCLE FUND II        

WESTFIELD CAPITAL LARGE

CAP GROWTH FUND

JANUARY 31, 2019 (Unaudited)

 

 

As of January 31, 2019, all of the Fund’s investments were considered Level 1, in accordance with the authoritative guidance on fair value measurements and disclosure under U.S. GAAP.

For the period ended January 31, 2019, there were no transfers between Level 1 and Level 2 assets and liabilities. For the period ended January 31, 2019, there were no Level 3 securities held by the Fund.

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 statement.

WCM-QH-001-1600

 

3

Item 2.

Controls and Procedures

(a) The Registrant’s principal executive and principal financial officers, or persons performing similar functions, have concluded that the Registrant’s disclosure controls and procedures (as defined in Rule 30a-3(c) under the Investment Company Act of 1940 (the “1940 Act”)) are effective, based on the evaluation of these controls and procedures required by Rule 30a-3(b) under the 1940 Act and Rules 13a-15(b) or 15d-15(b) under the Securities Exchange Act of 1934 as of a date within 90 days of the filing date of this report.

(b) There were no significant changes in the Registrant’s internal control over financial reporting (as defined in Rule 30a-3(d) under the 1940 Act) that occurred during the Registrant’s last fiscal quarter that have materially affected, or are reasonably likely to materially affect, the Registrant’s internal control over financial reporting.

 

Item 3.

Exhibits.

(a) Separate certifications for the principal executive officer and the principal financial officer of the registrant as required by Rule 30a-2(a) under the Investment Company Act of 1940, as amended (17 CFR § 270.30a-2(a)), are filed herewith.

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, the Registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

 

(Registrant)       The Advisors’ Inner Circle Fund II
By (Signature and Title)      

/s/ Michael Beattie

      Michael Beattie
      President

Date: March 27, 2019

Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, this report has been signed below by the following persons on behalf of the Registrant and in the capacities and on the dates indicated.

 

By (Signature and Title)      

/s/ Michael Beattie

      Michael Beattie
      President

Date: March 27, 2019

 

By (Signature and Title)      

/s/ Stephen Connors

      Stephen Connors
      Treasurer, Controller & CFO

Date: March 27, 2019