NPORT-EX 2 3Edge_schedule_f.htm SCHEDULE F

THE ADVISORS’ INNER CIRCLE FUND II	3EDGE ASSET MANAGEMENT
	DYNAMIC FIXED INCOME ETF
	DECEMBER 31, 2025
	(Unaudited)

SCHEDULES OF INVESTMENTS
Description	Shares		Fair Value (000)
EXCHANGE-TRADED FUNDS — 99.7%
Domestic Fixed Income — 99.7%
Global X 1-3 Month T-Bill ETF, Cl 3^(A)		263,152	$	26,344
Goldman Sachs Access Treasury 0-1 Year ETF		146,414		14,633
iShares 0-3 Month Treasury Bond ETF, Cl 3^(A)(B)		424,094		42,570
iShares TIPS Bond ETF^(A)(B)		399,725		43,934
State Street SPDR Bloomberg 1-3 Month T-Bill ETF, Cl 3^(A)(B)		642,583		58,719
State Street SPDR Portfolio Intermediate Term Treasury ETF		1,066,465		30,757
State Street SPDR Portfolio TIPS ETF^(A)		1,185,645		30,767
Vanguard Intermediate-Term Treasury ETF^(A)(B)		732,852		43,920

Total Exchange-Traded Funds
(Cost $291,772)				291,644

SHORT-TERM INVESTMENTS — 25.6%
First American Government Obligations Fund - Cl X, 3.67%^(C)		3,344,096		3,344
Mount Vernon Liquid Assets Portfolio, 3.84%^(C)(D)		71,541,767		71,542

Total Short-Term Investments
(Cost $74,886)				74,886

Total Investments - 125.3%
(Cost $366,658)			$	366,530

Percentages are based on Net Assets of $292,584 (000).

(A)	This security or a partial position of this security is on loan at December 31, 2025. The total value of securities on loan at December 31, 2025 was $70,087 (000).

(B)	Represents greater than 10% of the Fund’s total investments. For further information, please go to the Fund’s website at: https://www.SEC.gov.

(C)	The rate shown is the 7-day effective yield as of December 31, 2025.

(D)	This security was purchased with cash collateral held from securities on loan. The total value of such securities as of December 31, 2025 was $71,542 (000).

Cl — Class

ETF — Exchange-Traded Fund

SPDR — Standard & Poor's Depositary Receipts

TIPS — Treasury Inflation Protected Security

THE ADVISORS’ INNER CIRCLE FUND II	3EDGE ASSET MANAGEMENT
	DYNAMIC HARD ASSETS ETF
	DECEMBER 31, 2025
	(Unaudited)

SCHEDULES OF INVESTMENTS
Description	Shares		Fair Value (000)
EXCHANGE-TRADED FUNDS — 99.4%
Domestic Commodity — 69.4%
Harbor Commodity All Weather Strategy ETF^(A)(B)		1,225,797	$	30,424
Pimco Commodity Strategy Active Exchange-Traded Fund^(B)		354,628		9,784
Sprott Physical Gold and Silver Trust^(A)(B)*		556,287		25,478
Sprott Physical Gold Trust^(A)*		953,100		31,471
USCF SummerHaven Dynamic Commodity Strategy No. K-1 Fund^(B)		3,486		77
				97,234

Domestic Fixed Income — 30.0%
iShares 0-5 Year TIPS Bond ETF, Cl 5		142,094		14,549
Vanguard Short-Term Inflation-Protected Securities ETF^(A)		554,367		27,419
				41,968
Total Exchange-Traded Funds
(Cost $133,400)				139,202


SHORT-TERM INVESTMENTS — 4.9%
First American Government Obligations Fund - Cl X, 3.67%^(C)		2,450,632		2,451
Mount Vernon Liquid Assets Portfolio, 3.84%^(C)(D)		4,402,228		4,402

Total Short-Term Investments
(Cost $6,853)				6,853

Total Investments - 104.3%
(Cost $140,253)			$	146,055

Percentages are based on Net Assets of $140,051 (000).

*	Non-income producing security.

(A)	Represents greater than 10% of the Fund’s total investments. For further information, please go to the Fund’s website at: https://www.SEC.gov.

(B)	This security or a partial position of this security is on loan at December 31, 2025. The total value of securities on loan at December 31, 2025 was $4,209 (000).

(C)	The rate shown is the 7-day effective yield as of December 31, 2025.

(D)	This security was purchased with cash collateral held from securities on loan. The total value of such securities as of December 31, 2025 was $4,402 (000).

Cl — Class

ETF — Exchange-Traded Fund

TIPS — Treasury Inflation Protected Security

THE ADVISORS’ INNER CIRCLE FUND II	3EDGE ASSET MANAGEMENT
	DYNAMIC INTERNATIONAL EQUITY ETF
	DECEMBER 31, 2025
	(Unaudited)

SCHEDULES OF INVESTMENTS
Description	Shares		Fair Value (000)
EXCHANGE-TRADED FUNDS — 99.5%
International Equity — 99.5%
iShares MSCI Europe Small-Capital ETF^(A)		92,669	$	6,352
iShares MSCI Germany ETF^(A)		388,456		16,509
iShares MSCI Global Gold Miners ETF		61,084		4,498
iShares MSCI India ETF		66,208		3,579
iShares MSCI Japan Small-Capital ETF		50,582		4,644
JPMorgan BetaBuilders Japan ETF^(A)(B)		329,665		21,728
SEI Select Emerging Markets Equity ETF^(A)(B)		760,600		23,674
SEI Select International Equity ETF^(A)(B)		1,144,408		37,230
SPDR EURO STOXX 50 ETF^(A)		44,654		2,875
SPDR MSCI ACWI ex-US ETF^(A)(B)		1,026,563		36,874
SPDR S&P Emerging Markets Small Cap ETF^(A)		68,217		4,479
WisdomTree Europe SmallCap Dividend Fund^(A)		38,585		2,772

Total Exchange-Traded Funds
(Cost $158,203)				165,214

SHORT-TERM INVESTMENTS — 14.0%
First American Government Obligations Fund - Cl X, 3.67%^(C)		3,027,663		3,027
Mount Vernon Liquid Assets Portfolio, 3.84%^(C)(D)		20,310,775		20,311

Total Short-Term Investments
(Cost $23,338)				23,338

Total Investments - 113.5%
(Cost $181,541)			$	188,552

Percentages are based on Net Assets of $166,129 (000).

(A)	This security or a partial position of this security is on loan at December 31, 2025. The total value of securities on loan at December 31, 2025 was $19,777 (000).

(B)	Represents greater than 10% of the Fund’s total investments. For further information, please go to the Fund’s website at: https://www.SEC.gov.

(C)	The rate shown is the 7-day effective yield as of December 31, 2025.

(D)	This security was purchased with cash collateral held from securities on loan. The total value of such securities as of December 31, 2025 was $20,311 (000).

ACWI — All Country World Index

Cl — Class

ETF — Exchange-Traded Fund

S&P— Standard & Poor's

SPDR — Standard & Poor's Depositary Receipts

THE ADVISORS’ INNER CIRCLE FUND II	3EDGE ASSET MANAGEMENT
	DYNAMIC US EQUITY ETF
	DECEMBER 31, 2025
	(Unaudited)

SCHEDULES OF INVESTMENTS
Description	Shares		Fair Value (000)
EXCHANGE-TRADED FUNDS — 99.6%
Domestic Equity — 99.6%
Invesco QQQ Trust Series 1, Ser 1		5,674	$	3,486
State Street Communication Services Select Sector SPDR ETF		36,788		4,331
State Street Consumer Discretionary Select Sector SPDR ETF^(A)		32,446		3,874
State Street Consumer Staples Select Sector SPDR ETF		21,979		1,707
State Street Energy Select Sector SPDR ETF		23,628		1,056
State Street Financial Select Sector SPDR ETF^(B)		92,314		5,056
State Street Health Care Select Sector SPDR ETF^(A)(B)		34,000		5,263
State Street Industrial Select Sector SPDR ETF^(A)		19,018		2,950
State Street Materials Select Sector SPDR ETF^(A)		14,173		643
State Street Real Estate Select Sector SPDR ETF		16,709		674
State Street Technology Select Sector SPDR ETF^(A)(B)		64,434		9,277
State Street Utilities Select Sector SPDR ETF		18,742		800

Total Exchange-Traded Funds
(Cost $36,989)				39,117

SHORT-TERM INVESTMENTS — 29.0%
First American Government Obligations Fund - Cl X, 3.67%^(C)		330,815		331
Mount Vernon Liquid Assets Portfolio, 3.84%^(C)(D)		11,071,768		11,072

Total Short-Term Investments
(Cost $11,403)				11,403

Total Investments - 128.6%
(Cost $48,392)			$	50,520

Percentages are based on Net Assets of $39,296 (000).

(A)	This security or a partial position of this security is on loan at December 31, 2025. The total value of securities on loan at December 31, 2025 was $10,753 (000).

(B)	Represents greater than 10% of the Fund’s total investments. For further information, please go to the Fund’s website at: https://www.SEC.gov.

(C)	The rate shown is the 7-day effective yield as of December 31, 2025.

(D)	This security was purchased with cash collateral held from securities on loan. The total value of such securities as of December 31, 2025 was $11,072 (000).

Cl — Class

ETF — Exchange-Traded Fund

Ser — Series

SPDR — Standard & Poor's Depositary Receipts

EDG-QH-001-0300