| THE ADVISORS’ INNER CIRCLE FUND | SANDS CAPITAL GLOBAL | |
| GROWTH FUND | ||
| July 31, 2023 (Unaudited) |
| Schedule of Investments | ||||||
| Common Stock — 97.8% | ||||||
SHARES | VALUE | |||||
Argentina — 4.0% | ||||||
MercadoLibre * | 45,648 | $ | 56,514,506 | |||
|
| |||||
Canada — 2.7% | ||||||
Shopify, Cl A * | 569,412 | 38,480,863 | ||||
|
| |||||
Germany — 1.6% | ||||||
Zalando * | 664,422 | 22,938,814 | ||||
|
| |||||
India — 8.3% | ||||||
Asian Paints | 698,231 | 28,671,201 | ||||
HDFC Bank | 1,752,796 | 35,188,586 | ||||
Titan | 1,453,059 | 53,071,468 | ||||
|
| |||||
| 116,931,255 | ||||||
|
| |||||
Japan — 4.4% | ||||||
Keyence | 120,100 | 53,826,141 | ||||
Nihon M&A Center Holdings | 1,542,000 | 8,812,048 | ||||
|
| |||||
| 62,638,189 | ||||||
|
| |||||
Netherlands — 9.0% | ||||||
Adyen * | 30,088 | 55,901,817 | ||||
ASML Holding, Cl G | 100,399 | 71,926,848 | ||||
|
| |||||
| 127,828,665 | ||||||
|
| |||||
Singapore — 1.9% | ||||||
Sea ADR * | 403,118 | 26,815,409 | ||||
|
| |||||
Switzerland — 3.5% | ||||||
Sika | 158,864 | 49,314,242 | ||||
|
| |||||
United Kingdom — 1.8% | ||||||
Entain | 1,400,575 | 24,912,372 | ||||
|
| |||||
United States — 60.6% | ||||||
Airbnb, Cl A * | 99,611 | 15,159,798 | ||||
Align Technology * | 85,878 | 32,452,437 | ||||
Alphabet, Cl A * | 332,590 | 44,141,345 | ||||
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| THE ADVISORS’ INNER CIRCLE FUND | SANDS CAPITAL GLOBAL | |
| GROWTH FUND | ||
| July 31, 2023 (Unaudited) |
Common Stock — continued | ||||||||
SHARES | VALUE | |||||||
United States — (continued) | ||||||||
Alphabet, Cl C * | 65,489 | $ | 8,717,241 | |||||
Amazon.com * | 517,081 | 69,123,388 | ||||||
Aptiv * | 292,426 | 32,017,723 | ||||||
Atlassian, Cl A * | 170,140 | 30,955,272 | ||||||
Axon Enterprise * | 143,877 | 26,751,051 | ||||||
Block, Cl A * | 424,615 | 34,194,246 | ||||||
Cloudflare, Cl A * | 476,721 | 32,784,103 | ||||||
Dexcom * | 525,340 | 65,436,350 | ||||||
DoorDash, Cl A * | 346,212 | 31,432,588 | ||||||
Edwards Lifesciences * | 202,831 | 16,646,340 | ||||||
Entegris | 344,840 | 37,832,396 | ||||||
iRhythm Technologies * | 202,584 | 21,283,475 | ||||||
Lam Research | 67,535 | 48,523,222 | ||||||
Netflix * | 103,028 | 45,226,201 | ||||||
NIKE, Cl B | 392,373 | 43,314,056 | ||||||
NVIDIA | 123,242 | 57,589,754 | ||||||
Okta, Cl A * | 465,737 | 35,796,546 | ||||||
Repligen * | 135,681 | 23,277,432 | ||||||
Snowflake, Cl A * | 182,664 | 32,461,219 | ||||||
Visa, Cl A | 307,768 | 73,165,687 | ||||||
|
| |||||||
| 858,281,870 | ||||||||
|
| |||||||
Total Common Stock | ||||||||
(Cost $914,543,755) | 1,384,656,185 | |||||||
|
| |||||||
Total Investments— 97.8% | ||||||||
(Cost $914,543,755) | $ | 1,384,656,185 | ||||||
|
| |||||||
Percentages are based on Net Assets of $1,415,628,325. |
| * | Non-income producing security. |
ADR — American Depositary Receipt
Cl — Class
SAN-QH-001-2700
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