ALTRIA GROUP INC COMMON STOCK

NPORT-P false 0000890540 XXXXXXXX S000084215 C000248488 ADVISORS' INNER CIRCLE FUND II 811-07102 0000890540 549300OEHDTB2ALCAX69 ONE FREEDOM VALLEY DRIVE OAKS 19456 8774463863 Cullen Enhanced Equity Income ETF S000084215 5299008KQDA92PM3A019 2026-09-30 2025-12-31 N 40216548.62 282381.22 39934167.40 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 477505.34000000 N Cullen Enhanced Equity Income ETF - carve out 4875_CARVE OUT Altria Group, Inc. XSGZFLO9YTNO9VCQV219 ALTRIA GROUP INC COMMON STOCK 02209S103 18011.00000000 NS USD 1038514.26000000 2.600565700037 Long EC US N 1 N N N AMERICAN INTERNATIONAL GROUP, INC. 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XWTZDRYZPBUHIQBKDB46 EOG RESOURCES INC COMMON STOCK 26875P101 11959.00000000 NS USD 1255814.59000000 3.144712089327 Long EC US N 1 N N N EXXON MOBIL CORPORATION J3WHBG0MTS7O8ZVMDC91 EXXON MOBIL CORP COMMON STOCK 30231G102 9237.00000000 NS USD 1111580.58000000 2.783532629755 Long EC US N 1 N N N FIRST HORIZON CORPORATION TF3RXI1ZB1TQ30H9JV10 FHN US 01/16/26 C25 SHORT 2UU992Q33 -460.00000000 NC USD -11500.00000000 -0.02879739518 N/A DE US N 1 FHN US 01/16/26 C25 N/A Call Written FIRST HORIZON CORPORATION FHN Call 25 Jan 2026 -46000.00000000 25.00000000 USD 2026-01-19 XXXX -355.76000000 N N N FIRST HORIZON CORPORATION TF3RXI1ZB1TQ30H9JV10 FIRST HORIZON CORP COMMON STOCK 320517105 46046.00000000 NS USD 1100499.40000000 2.755784010661 Long EC US N 1 N N N GENERAL DYNAMICS CORPORATION 9C1X8XOOTYY2FNYTVH06 GENERAL DYNAMICS CORP COMMON STOCK 369550108 2325.00000000 NS USD 782734.50000000 1.960062149686 Long EC US N 1 N N N GENUINE PARTS COMPANY 549300D46DQVEU651W04 GENUINE PARTS CO COMMON STOCK 372460105 6111.00000000 NS USD 751408.56000000 1.881618195450 Long EC US N 1 N N N HEALTHPEAK PROPERTIES, INC. 254900M6MTMZM0I22L81 HEALTHPEAK PROPERTIES INC REIT 42250P103 63622.00000000 NS USD 1023041.76000000 2.561820682907 Long EC US N 1 N N N INTERNATIONAL BUSINESS MACHINES CORPORATION VGRQXHF3J8VDLUA7XE92 INTL BUSINESS MACHINES CORP COMMON STOCK 459200101 4413.00000000 NS USD 1307174.73000000 3.273324110921 Long EC US N 1 N N N KEURIG DR PEPPER INC. DYTQ8KRTKO7Y2BVU5K74 KEURIG DR PEPPER INC COMMON STOCK 49271V100 40835.00000000 NS USD 1143788.35000000 2.864184793295 Long EC US N 1 N N N MEDTRONIC PUBLIC LIMITED COMPANY 549300GX3ZBSQWUXY261 MEDTRONIC PLC COMMON STOCK G5960L103 17273.00000000 NS USD 1659244.38000000 4.154949227763 Long EC US N 1 N N N MERCK & CO., INC. 4YV9Y5M8S0BRK1RP0397 MERCK & CO. INC. COMMON STOCK 58933Y105 16069.00000000 NS USD 1691422.94000000 4.235528245920 Long EC US N 1 N N N MERCK & CO., INC. 4YV9Y5M8S0BRK1RP0397 MRK US 01/16/26 C110 SHORT N/A -81.00000000 NC USD -3240.00000000 -0.00811335307 N/A DE US N 1 MRK US 01/16/26 C110 N/A Call Written MERCK & CO., INC. MRK Call 110 Jan 2026 -8100.00000000 110.00000000 USD 2026-01-19 XXXX 4472.35000000 N N N PACCAR INC KDTEY8BWE486IKZ3CC07 PACCAR INC COMMON STOCK 693718108 13116.00000000 NS USD 1436333.16000000 3.596752489198 Long EC US N 1 N N N PACCAR INC KDTEY8BWE486IKZ3CC07 PCAR US 01/16/26 C113.6 SHORT 29399KQQ9 -4.00000000 NC USD -300.00000000 -0.00075123639 N/A DE US N 1 PCAR US 01/16/26 C113.6 N/A Call Written PACCAR INC PCAR Call 113.6 Jan 2026 -400.00000000 113.60000000 USD 2026-01-19 XXXX 56.91000000 N N N PCAR US 01/16/26 C115 N/A PCAR US 01/16/26 C115 SHORT 29399KE33 -127.00000000 NC USD -22352.00000000 -0.05597211975 N/A DE US N 1 PCAR US 01/16/26 C115 N/A Call Written N/A N/A -12700.00000000 115.00000000 USD 2026-01-19 XXXX -5306.22000000 N N N THE PNC FINANCIAL SERVICES GROUP, INC. CFGNEKW0P8842LEUIA51 PNC FINANCIAL SERVICES GROUP COMMON STOCK 693475105 5710.00000000 NS USD 1191848.30000000 2.984532738749 Long EC US N 1 N N N PPG INDUSTRIES, INC. 549300BKPEP01R3V6C59 PPG INDUSTRIES INC COMMON STOCK 693506107 9506.00000000 NS USD 973984.76000000 2.438976003290 Long EC US N 1 N N N PPG INDUSTRIES, INC. 549300BKPEP01R3V6C59 PPG US 01/16/26 C105 SHORT 31699J9A9 -95.00000000 NC USD -8075.00000000 -0.02022077966 N/A DE US N 1 PPG US 01/16/26 C105 N/A Call Written PPG INDUSTRIES, INC. PPG Call 105 Jan 2026 -9500.00000000 105.00000000 USD 2026-01-19 XXXX 1453.11000000 N N N PPL CORPORATION 9N3UAJSNOUXFKQLF3V18 PPL CORP COMMON STOCK 69351T106 35161.00000000 NS USD 1231338.22000000 3.083420289363 Long EC US N 1 N N N QUALCOMM INCORPORATED H1J8DDZKZP6H7RWC0H53 QUALCOMM INC COMMON STOCK 747525103 4676.00000000 NS USD 799829.80000000 2.002870854896 Long EC US N 1 N N N SMURFIT WESTROCK PUBLIC LIMITED COMPANY 635400EGSEOPDW2EXS14 SMURFIT WESTROCK PLC COMMON STOCK G8267P108 17188.00000000 NS USD 664659.96000000 1.664389176672 Long EC US N 1 N N N SYSCO CORPORATION 5RGWIFLMGH3YS7KWI652 SYSCO CORP COMMON STOCK 871829107 16302.00000000 NS USD 1201294.38000000 3.008186869071 Long EC US N 1 N N N Truist Financial Corporation 549300DRQQI75D2JP341 TFC US 01/16/26 C50 SHORT N/A -120.00000000 NC USD -6480.00000000 -0.01622670615 N/A DE US N 1 TFC US 01/16/26 C50 N/A Call Written Truist Financial Corporation TFC Call 50 Jan 2026 -12000.00000000 50.00000000 USD 2026-01-19 XXXX 1481.59000000 N N N Truist Financial Corporation 549300DRQQI75D2JP341 TRUIST FINANCIAL CORP COMMON STOCK 89832Q109 23897.00000000 NS USD 1175971.37000000 2.944774979833 Long EC US N 1 N N N UNION PACIFIC CORPORATION 549300LMMRSZZCZ8CL11 UNION PACIFIC CORP COMMON STOCK 907818108 3415.00000000 NS USD 789957.80000000 1.978150169220 Long EC US N 1 N N N UNITED PARCEL SERVICE, INC. D01LMJZU09ULLNCY6Z23 UNITED PARCEL SERVICE-CL B COMMON STOCK 911312106 10455.00000000 NS USD 1037031.45000000 2.596852563902 Long EC US N 1 N N N UNITEDHEALTH GROUP INCORPORATED 549300GHBMY8T5GXDE41 UNITEDHEALTH GROUP INC COMMON STOCK 91324P102 3388.00000000 NS USD 1118412.68000000 2.800641037028 Long EC US N 1 N N N VERIZON COMMUNICATIONS INC. 2S72QS2UO2OESLG6Y829 VERIZON COMMUNICATIONS INC COMMON STOCK 92343V104 28882.00000000 NS USD 1176363.86000000 2.945757822410 Long EC US N 1 N N N VICI PROPERTIES INC. 254900RKH6RY9KCJQH63 VICI PROPERTIES INC REIT 925652109 47368.00000000 NS USD 1331988.16000000 3.335459950017 Long EC 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