GAZPROM NEFT PJSC COMMON STOCK

NPORT-P false 0000890540 XXXXXXXX S000049911 C000157593 ADVISORS' INNER CIRCLE FUND II 811-07102 0000890540 549300OEHDTB2ALCAX69 ONE FREEDOM VALLEY DRIVE OAKS 19456 8774463863 Kopernik International Fund S000049911 549300ZHQ6X47R4OQ671 2023-10-31 2023-07-31 N 576202718.40 546169.17 575656549.23 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 2354616.07000000 N GAZPROM NEFT' PAO 253400KXA9P2AN72P004 GAZPROM NEFT PJSC COMMON STOCK N/A 2817940.00000000 NS 5285595.47000000 0.918185587755 Long EC RU N 3 N N N WH GROUP LIMITED 254900A4AYEDRWYSE928 WH GROUP LTD COMMON STOCK N/A 11138000.00000000 NS 6026793.52000000 1.046942578532 Long EC HK Y 1 N N N China Shenhua Energy Company Limited 529900N9JOX4C108MA40 CHINA SHENHUA ENERGY CO-H COMMON STOCK N/A 991500.00000000 NS 2962206.21000000 0.514578738652 Long EC HK N 1 N N N BASF SE 529900PM64WH8AF1E917 BASF SE COMMON STOCK N/A 111853.00000000 NS 5997878.85000000 1.041919675546 Long EC DE N 1 N N N Hana Financial Group Inc. N/A HANA FINANCIAL GROUP COMMON STOCK N/A 137196.00000000 NS 4230026.12000000 0.734817683505 Long EC KR N 1 N N N CARREFOUR SA 549300B8P6MUJ1YWTS08 CARREFOUR SA COMMON STOCK N/A 84514.00000000 NS 1690280.00000000 0.293626469161 Long EC FR N 1 N N N Shanghai Mechanical & Electrical Industry Co., Ltd. N/A SHANGHAI MECHANICAL AND EL-B COMMON STOCK N/A 4311615.00000000 NS USD 4678102.28000000 0.812655095517 Long EC CN N 1 N N N NEXGEN ENERGY LTD. 529900N0IXNXB3IP7F06 NEXGEN ENERGY LTD COMMON STOCK 65340P106 614609.00000000 NS 3015599.46000000 0.523853930617 Long EC CA N 1 N N N KT CORPORATION 9884005ACF8449EANY26 KT CORP-SP ADR DEPOSITARY RECEIPT 48268K101 940730.00000000 NS USD 11034762.90000000 1.916900435643 Long EC US N 1 N N N LOTTE CHEMICAL CORPORATION 988400TPNFJZDPI94Y56 LOTTE CHEMICAL CORP COMMON STOCK N/A 43113.00000000 NS 5093804.42000000 0.884868664625 Long EC KR N 1 N N N Wheaton Precious Metals Corp. 549300XSFG5ZCGVYD886 WHEATON PRECIOUS METALS CORP COMMON STOCK 962879102 429679.00000000 NS USD 19262509.57000000 3.346180912171 Long EC US N 1 N N N SPXW US 07/31/23 P4275 N/A SPXW US 07/31/23 P4275 LONG N/A 408.00000000 NC USD 0.00000000 0.000000 N/A DE US N 2 SPXW US 07/31/23 P4275 N/A Put Purchased N/A N/A N/A 40800.00000000 275.00000000 USD 2023-08-03 XXXX -2905787.85000000 N N N POLYUS PAO 549300FUXVT7TF6ZKV71 POLYUS PJSC-REG S-GDR DEPOSITARY RECEIPT 73181M117 249258.00000000 NS USD 4898667.47000000 0.850970509508 Long EC GB N 3 N N N MITSUI & CO., LTD. 2NRSB4GOU9DD6CNW5R48 MITSUI & CO LTD COMMON STOCK N/A 40800.00000000 NS 1589096.40000000 0.276049391277 Long EC JP N 1 N N N United States of America 254900HROIFWPRGM1V77 TREASURY BILL 0.000000% 09/14/2023 912796CQ0 59842000.00000000 PA USD 59457099.85000000 10.32857177244 Long DBT UST US N 2 2023-09-14 None 0.00000000 N N N N N N KOREA ELECTRIC POWER CORPORATION 988400QG33WS7JEIV602 KOREA ELEC POWER CORP-SP ADR DEPOSITARY RECEIPT 500631106 319396.00000000 NS USD 2427409.60000000 0.421676710400 Long EC US N 1 N N N K. WAH INTERNATIONAL HOLDINGS LIMITED 529900ZOP51K5LHLPK04 K WAH INTL HOLDINGS COMMON STOCK N/A 6230000.00000000 NS 2037018.04000000 0.353859960895 Long EC HK N 1 N N N MHP SE 213800D7DXFXGA292757 MHP SE DEPOSITARY RECEIPT 55302T204 792536.00000000 NS USD 2845204.24000000 0.494253777500 Long EC GB N 1 N N N N/A N/A BROWN BROTHERS HARRIMAN SWEEP INTEREST N/A 9683210.94000000 PA USD 9683210.94000000 1.682116003535 Long STIV US N 2 N N N FSK-ROSSETI PAO 253400FZQ7Z49QZNSG30 FEDERAL GRID CO-ROSSETI PJSC COMMON STOCK N/A 3021385233.00000000 NS 1195381.84000000 0.207655387852 Long EC RU N 3 N N N GS Holdings N/A GS HOLDINGS COMMON STOCK N/A 94295.00000000 NS 2788939.32000000 0.484479734266 Long EC KR N 1 N N N U.S. DOLLARS N/A FX Forward Contract: USD/HKD SETTLE 2023-08-01 N/A 1.00000000 NC USD -1.38000000 -0.00000023972 N/A DFE US N 2 U.S. DOLLARS N/A 161452.97000000 HKD 20700.64000000 USD 2023-08-01 -1.38000000 N N N HARMONY GOLD MINING COMPANY LIMITED 378900986D05F0C29811 HARMONY GOLD MNG-SPON ADR DEPOSITARY RECEIPT 413216300 666612.00000000 NS USD 2859765.48000000 0.496783278818 Long EC US N 1 N N N CK HUTCHISON HOLDINGS LIMITED 254900Z8HM1VEPOQ2G79 CK HUTCHISON HOLDINGS LTD COMMON STOCK N/A 1459000.00000000 NS 8998435.68000000 1.563160480330 Long EC HK N 1 N N N ROYAL GOLD, INC. 5493001NGRU6SFL04184 ROYAL GOLD INC COMMON STOCK 780287108 94398.00000000 NS USD 11340975.72000000 1.970094101277 Long EC US N 1 N N N MEG Energy Corp. 5493002WXPTG5ZC1T326 MEG ENERGY CORP COMMON STOCK 552704108 281750.00000000 NS 5023275.70000000 0.872616789771 Long EC CA N 1 N N N WTAX FEE 10% N/A WTAX FEE 10% N/A 1.00000000 PA USD 0.00000000 0.000000 Long DBT NUSS US N 2 N/A None 0.00000000 N N N N N N MK LENTA PAO N/A LENTA PLC DEPOSITARY RECEIPT 52634T200 1271467.00000000 NS USD 687355.06000000 0.119403672366 Long EC GB N 3 N N N N/A N/A DREYFUS TREASURY SEC CASH-PT DPRXX US EQUITY 261941405 978765.81000000 PA USD 978765.81000000 0.170026000973 Long STIV US N 2 N N N KASIKORNBANK PUBLIC COMPANY LIMITED 5493004COSQ54937AW41 KASIKORNBANK PCL-FOREIGN COMMON STOCK N/A 773000.00000000 NS 2845502.68000000 0.494305620913 Long EC TH N 1 N N N GRUPPA LSR PAO 25340067LEEMJ79K8X43 LSR GROUP PJSC COMMON STOCK N/A 510671.00000000 NS 1293403.02000000 0.224683106920 Long EC RU N 3 N N N Shanghai Electric Group Company Limited 529900WHVV4GODE91T37 SHANGHAI ELECTRIC GRP CO L-H COMMON STOCK N/A 12578000.00000000 NS 3064303.94000000 0.532314614347 Long EC HK N 1 N N N Gold Fields Limited 5299003KXIBJQYCBBD72 GOLD FIELDS LTD COMMON STOCK N/A 629804.00000000 NS 9681382.13000000 1.681798312370 Long EC ZA N 1 N N N HYUNDAI MOBIS CO.,LTD 988400HJA9E0ZVDHRS65 HYUNDAI MOBIS CO LTD COMMON STOCK N/A 34054.00000000 NS 6224910.37000000 1.081358386059 Long EC KR N 1 N N N LG Corp. N/A LG CORP COMMON STOCK N/A 131305.00000000 NS 8601551.41000000 1.494215851709 Long EC KR N 1 N N N Equinox Gold Corp. 5493005IN4V1SNP9PN75 EQUINOX GOLD CORP COMMON STOCK 29446Y502 1167521.00000000 NS 6126906.55000000 1.064333682678 Long EC CA N 1 N N N PAX GLOBAL TECHNOLOGY LIMITED 5299008CRGPD1WZXCD36 PAX GLOBAL TECHNOLOGY LTD COMMON STOCK N/A 3664000.00000000 NS 2969198.22000000 0.515793353514 Long EC HK N 1 N N N Petroleo Brasileiro S.A. (Petrobras) 5493000J801JZRCMFE49 PETROLEO BRASILEIRO SA PREFERRED STOCK N/A 1538800.00000000 NS 10126874.12000000 1.759186816087 Long EP BR N 1 N N N Yellow Cake PLC 213800CVMYUGOA9EZY95 YELLOW CAKE PLC COMMON STOCK N/A 1862482.00000000 NS 10316182.17000000 1.792072405638 Long EC GB Y 1 N N N SOCIETE AURIFERE BARRICK 0O4KBQCJZX82UKGCBV73 BARRICK GOLD CORP COMMON STOCK 067901108 880209.00000000 NS USD 15218813.61000000 2.643731514973 Long EC US N 1 N N N SBERBANK ROSSII PAO 549300WE6TAF5EEWQS81 SBERBANK OF RUSSIA PJSC COMMON STOCK N/A 8292394.00000000 NS 7182523.72000000 1.247709893964 Long EC RU N 3 N N N CGN Power Co., Ltd. 529900D2UINCGWQYBK45 CGN POWER CO LTD-H COMMON STOCK N/A 48986000.00000000 NS 11996981.63000000 2.084051965715 Long EC HK Y 1 N N N TS TECH CO., LTD. N/A TS TECH CO LTD COMMON STOCK N/A 227800.00000000 NS 2938270.13000000 0.510420689894 Long EC JP N 1 N N N LG Uplus Corp N/A LG UPLUS CORP COMMON STOCK N/A 2091992.00000000 NS 16428698.01000000 2.853906210565 Long EC KR N 1 N N N Sprott Physical Uranium Trust N/A SPROTT PHYSICAL URANIUM TRUS MUTUAL FUND 85210A104 432844.00000000 NS 5626167.79000000 0.977348003340 Long EC CA N 1 N N N N/A N/A SPX US 09/15/23 P4280 LONG N/A 302.00000000 NC USD 398640.00000000 0.069249624716 N/A DE US N 1 SPX US 09/15/23 P4280 N/A Put Purchased Put Option 4280 Sep 2023 on S&P 500 Index N/A N/A 30200.00000000 280.00000000 USD 2023-09-18 XXXX -2369065.89000000 N N N Guangshen Railway Company Limited 529900YIR2NSEPF1UU41 GUANGSHEN RAILWAY CO LTD-H COMMON STOCK N/A 10554000.00000000 NS 2774198.93000000 0.481919111961 Long EC HK N 1 N N N FRESNILLO PLC 549300JXWH1UV5J0XV81 FRESNILLO PLC COMMON STOCK N/A 794018.00000000 NS 6299481.89000000 1.094312554669 Long EC GB N 1 N N N GOLDEN AGRI-RESOURCES LTD 529900GAK9LTNC3IFY40 GOLDEN AGRI-RESOURCES LTD COMMON STOCK N/A 83031200.00000000 NS 15610302.69000000 2.711738919826 Long EC SG N 1 N N N Pan American Silver Corp. 549300MKTF5851TYIB83 PAN AMERICAN SILVER CORP COMMON STOCK 697900108 564935.00000000 NS 9562316.92000000 1.661114936117 Long EC CA N 1 N N N AerCap Holdings N.V. 549300SZYINBBLJQU475 AERCAP HOLDINGS NV COMMON STOCK N00985106 52267.00000000 NS USD 3335157.27000000 0.579365817076 Long EC US N 1 N N N JOINT STOCK COMPANY HALYK SAVINGS BANK OF KAZAKHSTAN 213800NYDTVQM4SDUD67 HALYK SAVINGS BANK-GDR REG S DEPOSITARY RECEIPT 46627J302 584930.00000000 NS USD 8376197.60000000 1.455068584072 Long EC GB N 1 N N N BANK VTB PAO 253400V1H6ART1UQ0N98 VTB BANK PJSC COMMON STOCK N/A 11647406497.00000000 NS 990188.24000000 0.172010244880 Long EC RU N 3 N N N IVANHOE MINES LTD 5299006XZISURYIA4G32 IVANHOE MINES LTD-CL A COMMON STOCK 46579R104 856800.00000000 NS 9083580.94000000 1.577951462925 Long EC CA N 1 N N N Centrais Eletricas Brasileiras S.A. 254900I8KYDELP4B4Z08 CENTRAIS ELETRICAS BRASILIER COMMON STOCK N/A 598560.00000000 NS 4888477.34000000 0.849200334216 Long EC BR N 1 N N N INPEX CORPORATION 353800VHYYADPR6MXQ47 INPEX CORP COMMON STOCK N/A 316600.00000000 NS 4078090.18000000 0.708424178523 Long EC JP N 1 N N N Mitsubishi Corporation KVIPTY4PULAPGC1VVD26 MITSUBISHI CORP COMMON STOCK N/A 65300.00000000 NS 3334653.64000000 0.579278329146 Long EC JP N 1 N N N KT CORPORATION 9884005ACF8449EANY26 KT CORP COMMON STOCK N/A 706087.00000000 NS 16341400.78000000 2.838741399165 Long EC KR N 1 N N N KOREA ELECTRIC POWER CORPORATION 988400QG33WS7JEIV602 KOREA ELECTRIC POWER CORP COMMON STOCK N/A 527513.00000000 NS 7950044.90000000 1.381039599155 Long EC KR N 1 N N N N/A N/A SPXW US 10/31/23 P4450 LONG N/A 419.00000000 NC USD 2396680.00000000 0.416338527409 N/A DE US N 1 SPXW US 10/31/23 P4450 N/A Put Purchased Put Option 4450 Oct 2023 on S&P 500 Index N/A N/A 41900.00000000 450.00000000 USD 2023-11-03 XXXX -1877970.21000000 N N N CORPORATION CAMECO N4BHALMXL3GMZKCUON55 CAMECO CORP COMMON STOCK 13321L108 225321.00000000 NS USD 7922286.36000000 1.376217532936 Long EC US N 1 N N N SUZUKEN CO.,LTD. N/A SUZUKEN CO LTD COMMON STOCK N/A 289200.00000000 NS 8434195.34000000 1.465143643598 Long EC JP N 1 N N N NEWCREST MINING LIMITED 5299006MN50OZJUJI655 NEWCREST MINING LTD COMMON STOCK N/A 1668571.00000000 NS 29599774.38000000 5.141915682118 Long EC AU N 1 N N N Kamigumi Co.,Ltd. N/A KAMIGUMI CO LTD COMMON STOCK N/A 169100.00000000 NS 3920091.38000000 0.680977465685 Long EC JP N 1 N N N IMPALA PLATINUM HOLDINGS LIMITED 254900BZFIFB4PD2Z778 IMPALA PLATINUM HOLDINGS LTD COMMON STOCK N/A 1498184.00000000 NS 10806779.12000000 1.877296303578 Long EC ZA N 1 N N N PT Indofood Sukses Makmur Tbk 529900E61EV2GTYWZ485 INDOFOOD SUKSES MAKMUR TBK P COMMON STOCK N/A 9156100.00000000 NS 4447508.79000000 0.772597618484 Long EC ID N 1 N N N HYUNDAI MOTOR COMPANY 9884004RQX8PRBXQ8S60 Hyundai Motor Co PREFERRED STOCK N/A 70222.00000000 NS 5971886.24000000 1.037404377312 Long EP KR N 1 N N N United States of America 254900HROIFWPRGM1V77 TREASURY BILL 0.000000% 08/24/2023 912796Z44 24492600.00000000 PA USD 24410278.17000000 4.240423947690 Long DBT UST US N 2 2023-08-24 None 0.00000000 N N N N N N Joint stock company National atomic company Kazatomprom 5493008JG5TXJP2JSY44 NAC KAZATOMPROM JSC-GDR REGS DEPOSITARY RECEIPT 63253R201 453029.00000000 NS USD 12254434.45000000 2.128775302980 Long EC GB N 1 N N N Joint stock company National atomic company Kazatomprom 5493008JG5TXJP2JSY44 NAC KAZATOMPROM JSC-144A DEPOSITARY RECEIPT 63253R102 335296.00000000 NS USD 9069756.80000000 1.575550006706 Long EC GB Y 1 N N N West Japan Railway Company 353800QGUXHZ7EBCR121 WEST JAPAN RAILWAY CO COMMON STOCK N/A 115400.00000000 NS 4739621.13000000 0.823341823582 Long EC JP N 1 N N N MOSKOVSKAYA BIRZHA MMVB-RTS PAO 253400M5M1222KPNWE87 MOSCOW EXCHANGE MICEX-RTS PJ COMMON STOCK N/A 5746159.00000000 NS 2497183.63000000 0.433797484514 Long EC RU N 3 N N N K+S Aktiengesellschaft 529900YURAYD4IJX2J91 K+S AG-REG COMMON STOCK N/A 407556.00000000 NS 7763504.89000000 1.348634858820 Long EC DE N 1 N N N GAZPROM PAO 213800FD9J2IHTA7YX78 GAZPROM PJSC COMMON STOCK N/A 8122810.00000000 NS 4621104.24000000 0.802753698569 Long EC RU N 3 N N N FGK RUSGIDRO PAO 2534005TJN9DX4YWVT97 RUSHYDRO PJSC COMMON STOCK N/A 991278397.00000000 NS 2744247.55000000 0.476716117217 Long EC RU N 3 N N N China Communications Services Corporation Limited 529900JCDRVQE6YZKT86 CHINA COMMUNICATIONS SERVI-H COMMON STOCK N/A 15604000.00000000 NS 7402941.44000000 1.285999690249 Long EC HK N 1 N N N N/A N/A SPXW US 11/30/23 P4560 LONG N/A 240.00000000 NC USD 2352000.00000000 0.408576954982 N/A DE US N 1 SPXW US 11/30/23 P4560 N/A Put Purchased Put Option 4560 Nov 2023 on S&P 500 Index N/A N/A 24000.00000000 560.00000000 USD 2023-12-03 XXXX -310087.00000000 N N N NOVAGOLD RESOURCES INC. 529900587LVZTJ2BHS60 NOVAGOLD RESOURCES INC COMMON STOCK 66987E206 2532092.00000000 NS USD 11419734.92000000 1.983775731427 Long EC US N 1 N N N MEDIPAL HOLDINGS CORPORATION 353800PJDODZEA4NP730 MEDIPAL HOLDINGS CORP COMMON STOCK N/A 88900.00000000 NS 1522544.90000000 0.264488417970 Long EC JP N 1 N N N DL E&C CO., LTD. 988400UU0MCCBS1YP242 DL E&C CO LTD COMMON STOCK N/A 188490.00000000 NS 4525002.16000000 0.786059355366 Long EC KR N 1 N N N 2023-07-31 THE ADVISORS' INNER CIRCLE FUND II Andy Metzger Andy Metzger CFO XXXX