FIRST AMERICAN GOVERNMENT OBLIGATIONS FUND CLASS X CLASS X

NPORT-P false 0000890540 XXXXXXXX S000087687 C000253562 ADVISORS' INNER CIRCLE FUND II 811-07102 0000890540 549300OEHDTB2ALCAX69 ONE FREEDOM VALLEY DRIVE OAKS 19456 8774463863 3EDGE Dynamic US Equity ETF S000087687 529900QNCQQLT42EQQ98 2026-09-30 2025-12-31 N 39314266.16 17877.55 39296388.61 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 0.00000000 N N/A N/A FIRST AMERICAN GOVERNMENT OBLIGATIONS FUND CLASS X CLASS X 31846V336 330814.90000000 PA USD 330814.90000000 0.841845552992 Long STIV US N 1 N N N Invesco QQQ Trust Series 1 549300VY6FEJBCIMET58 INVESCO QQQ TRUST SERIES 1 MUTUAL FUND N/A 5674.00000000 NS USD 3485594.94000000 8.870013411647 Long EC RF US N 1 N N N MOUNT VERNON LIQUID ASSETS PORTFOLIO N/A MOUNT VERNON LIQUID ASSETS PORTFOLIO 990VR1110 11071768 NS USD 11071768 28.17502674325 Long STIV US N 1 N N State Street Communication Services Select Sector SPDR ETF 549300RPODKQJE2HDW24 STATE STREET COMMUNICATION SERVICES SELECT SECTOR MUTUAL FUND 81369Y852 36788.00000000 NS USD 4330683.36000000 11.02056324559 Long EC RF US N 1 N N N State Street Consumer Discretionary Select Sector SPDR ETF N/A STATE STREET CONSUMER DISCRETIONARY SELECT SECTOR MUTUAL FUND 81369Y407 32446.00000000 NS USD 3874376.86000000 9.859371298598 Long EC RF US N 1 N N State Street Consumer Staples Select Sector SPDR ETF N/A STATE STREET CONSUMER STAPLES SELECT SECTOR SPDR E MUTUAL FUND 81369Y308 21979.00000000 NS USD 1707328.72000000 4.344747139347 Long EC RF US N 1 N N N State Street Energy Select Sector SPDR ETF N/A STATE STREET ENERGY SELECT SECTOR SPDR ETF MUTUAL FUND 81369Y506 23628.00000000 NS USD 1056407.88000000 2.688307799692 Long EC RF US N 1 N N N State Street Financial Select Sector SPDR ETF 549300Y12KQ6ZG08NY28 STATE STREET FINANCIAL SELECT SECTOR SPDR ETF MUTUAL FUND 81369Y605 92314.00000000 NS USD 5056037.78000000 12.86641841360 Long EC RF US N 1 N N N State Street Health Care Select Sector SPDR ETF N/A STATE STREET HEALTH CARE SELECT SECTOR SPDR ETF MUTUAL FUND 81369Y209 34000.00000000 NS USD 5263200.00000000 13.39359718837 Long EC RF US N 1 N N State Street Industrial Select Sector SPDR ETF N/A STATE STREET INDUSTRIAL SELECT SECTOR SPDR ETF MUTUAL FUND 81369Y704 19018.00000000 NS USD 2950072.16000000 7.507234797778 Long EC RF US N 1 N N State Street Materials Select Sector SPDR ETF N/A STATE STREET MATERIALS SELECT SECTOR SPDR ETF MUTUAL FUND 81369Y100 14173.00000000 NS USD 642745.55000000 1.635635163269 Long EC RF US N 1 N N State Street Real Estate Select Sector SPDR ETF 549300SPMSTD3BRHL041 STATE STREET REAL ESTATE SELECT SECTOR SPDR ETF MUTUAL FUND 81369Y860 16709.00000000 NS USD 674208.15000000 1.715700027020 Long EC RF US N 1 N N N THE SELECT SECTOR SPDR TRUST - The Technology Select Sector SPDR Fund 549300BR5T0JNM2MW070 STATE STREET TECHNOLOGY SELECT SECTOR SPDR ETF MUTUAL FUND 81369Y803 64434.00000000 NS USD 9276562.98000000 23.60665523762 Long EC RF US N 1 N N Utilities Select Sector SPDR Fund N/A STATE STREET UTILITIES SELECT SECTOR SPDR ETF MUTUAL FUND 81369Y886 18742.00000000 NS USD 800095.98000000 2.036054732511 Long EC RF US N 1 N N N 2025-12-31 THE ADVISORS' INNER CIRCLE FUND II Andrew Metzger Andrew Metzger Treasurer, Controller and Chief Financial Officer XXXX