THE ADVISORS’ INNER CIRCLE FUND II | CHAMPLAIN SMALL COMPANY FUND MARCH 31, 2021 (Unaudited) |
SCHEDULE OF INVESTMENTS | ||||||||
COMMON STOCK — 94.3% | ||||||||
Shares | Value | |||||||
COMMUNICATION SERVICES — 1.7% | ||||||||
John Wiley & Sons, Cl A | 1,090,000 | $ | 59,078,000 | |||||
|
| |||||||
CONSUMER DISCRETIONARY — 5.3% | ||||||||
National Vision Holdings * | 805,000 | 35,283,150 | ||||||
Sally Beauty Holdings * | 2,020,000 | 40,662,600 | ||||||
Wingstop | 320,000 | 40,694,400 | ||||||
Wolverine World Wide | 1,730,000 | 66,293,600 | ||||||
|
| |||||||
182,933,750 | ||||||||
|
| |||||||
CONSUMER STAPLES — 13.2% | ||||||||
B&G Foods | 560,000 | 17,393,600 | ||||||
Central Garden and Pet, Cl A * | 202,567 | 10,511,201 | ||||||
elf Beauty * | 1,685,000 | 45,208,550 | ||||||
Hostess Brands, Cl A * | 4,890,000 | 70,122,600 | ||||||
J&J Snack Foods | 270,000 | 42,398,100 | ||||||
Lancaster Colony | 445,000 | 78,035,200 | ||||||
MGP Ingredients | 660,000 | 39,039,000 | ||||||
Simply Good Foods * | 2,725,000 | 82,894,500 | ||||||
TreeHouse Foods * | 1,005,000 | 52,501,200 | ||||||
Utz Brands | 765,000 | 18,964,350 | ||||||
|
| |||||||
457,068,301 | ||||||||
|
| |||||||
FINANCIALS — 13.2% | ||||||||
Argo Group International Holdings | 965,000 | 48,558,800 | ||||||
BRP Group, Cl A * | 465,000 | 12,671,250 | ||||||
Bryn Mawr Bank | 450,000 | 20,479,500 | ||||||
Community Bank System | 470,000 | 36,058,400 | ||||||
CVB Financial | 1,180,000 | 26,066,200 | ||||||
German American Bancorp | 560,000 | 25,883,200 | ||||||
Independent Bank | 585,000 | 49,251,150 | ||||||
James River Group Holdings | 605,000 | 27,600,100 | ||||||
Palomar Holdings * | 315,000 | 21,117,600 | ||||||
Prosperity Bancshares | 530,000 | 39,691,700 | ||||||
Selective Insurance Group | 680,000 | 49,327,200 | ||||||
Stock Yards Bancorp | 395,150 | 20,176,359 |
1 | ||||
CHAMPLAIN INVESTMENT | PARTNERS | |||
THE ADVISORS’ INNER CIRCLE FUND II | CHAMPLAIN SMALL COMPANY FUND MARCH 31, 2021 (Unaudited) |
COMMON STOCK — continued | ||||||||
Shares | Value | |||||||
FINANCIALS — continued | ||||||||
UMB Financial | 660,000 | $ | 60,937,800 | |||||
Washington Trust Bancorp | 335,000 | 17,296,050 | ||||||
|
| |||||||
455,115,309 | ||||||||
|
| |||||||
HEALTH CARE — 23.1% | ||||||||
AtriCure * | 980,000 | 64,209,600 | ||||||
Avanos Medical * | 1,314,860 | 57,511,976 | ||||||
Cantel Medical | 905,000 | 72,255,200 | ||||||
Cardiovascular Systems * | 1,555,000 | 59,618,700 | ||||||
CONMED | 765,000 | 99,901,350 | ||||||
Envista Holdings * | 360,000 | 14,688,000 | ||||||
Globus Medical, Cl A * | 690,000 | 42,552,300 | ||||||
Inspire Medical Systems * | 270,000 | 55,887,300 | ||||||
Integra LifeSciences Holdings * | 1,320,000 | 91,198,800 | ||||||
Masimo * | 80,000 | 18,372,800 | ||||||
Omnicell * | 275,000 | 35,714,250 | ||||||
Outset Medical * | 260,000 | 14,141,400 | ||||||
Penumbra * | 195,000 | 52,763,100 | ||||||
Prestige Consumer Healthcare * | 950,000 | 41,876,000 | ||||||
Pulmonx * | 214,340 | 9,803,912 | ||||||
Tactile Systems Technology * | 795,000 | 43,319,550 | ||||||
Vapotherm * | 420,000 | 10,088,400 | ||||||
Veracyte * | 250,000 | 13,437,500 | ||||||
|
| |||||||
797,340,138 | ||||||||
|
| |||||||
INDUSTRIALS — 16.2% | ||||||||
Albany International, Cl A | 135,000 | 11,268,450 | ||||||
Altra Industrial Motion | 1,160,000 | 64,171,200 | ||||||
Barnes Group | 1,265,000 | 62,668,100 | ||||||
CSW Industrials | 170,000 | 22,950,000 | ||||||
ESCO Technologies | 80,000 | 8,711,200 | ||||||
Evoqua Water Technologies * | 2,655,000 | 69,826,500 | ||||||
Gibraltar Industries * | 75,800 | 6,936,458 | ||||||
John Bean Technologies | 780,000 | 104,005,200 | ||||||
MSA Safety | 454,345 | 68,160,837 | ||||||
Ritchie Bros. Auctioneers | 1,085,000 | 63,526,750 | ||||||
Standex International | 300,000 | 28,671,000 | ||||||
Transcat * | 65,000 | 3,190,200 |
2 | ||||
CHAMPLAIN INVESTMENT | PARTNERS | |||
THE ADVISORS’ INNER CIRCLE FUND II | CHAMPLAIN SMALL COMPANY FUND MARCH 31, 2021 (Unaudited) |
COMMON STOCK — continued | ||||||||
Shares | Value | |||||||
INDUSTRIALS — continued | ||||||||
TriMas * | 1,515,000 | $ | 45,934,800 | |||||
|
| |||||||
560,020,695 | ||||||||
|
| |||||||
INFORMATION TECHNOLOGY — 18.2% | ||||||||
Blackbaud | 765,000 | 54,376,200 | ||||||
BlackLine * | 400,000 | 43,360,000 | ||||||
Envestnet * | 400,000 | 28,892,000 | ||||||
Medallia * | 2,370,000 | 66,099,300 | ||||||
New Relic * | 1,310,000 | 80,538,800 | ||||||
Pure Storage, Cl A * | 3,280,115 | 70,653,677 | ||||||
Q2 Holdings * | 637,045 | 63,831,909 | ||||||
Qualys * | 260,000 | 27,242,800 | ||||||
SailPoint Technologies Holdings * | 1,040,000 | 52,665,600 | ||||||
Sumo Logic * | 142,600 | 2,689,436 | ||||||
Tenable Holdings * | 1,420,000 | 51,382,700 | ||||||
Workiva, Cl A * | 430,000 | 37,951,800 | ||||||
Yext * | 3,535,000 | 51,186,800 | ||||||
|
| |||||||
630,871,022 | ||||||||
|
| |||||||
MATERIALS — 3.4% | ||||||||
Chase | 145,000 | 16,876,550 | ||||||
Innospec | 370,000 | 37,995,300 | ||||||
Sensient Technologies | 825,000 | 64,350,000 | ||||||
|
| |||||||
119,221,850 | ||||||||
|
| |||||||
TOTAL COMMON STOCK | 3,261,649,065 | |||||||
|
| |||||||
CASH EQUIVALENTS** — 5.8% | ||||||||
Fidelity Investments - Money Market Treasury Only Portfolio, Cl I, 0.010% | 20,000,000 | 20,000,000 | ||||||
Goldman Sachs Square Treasury Instruments Fund, Institutional Shares, 0.006% | 181,033,370 | 181,033,370 | ||||||
|
| |||||||
TOTAL CASH EQUIVALENTS | 201,033,370 | |||||||
|
| |||||||
TOTAL INVESTMENTS — 100.1% | $ | 3,462,682,435 | ||||||
|
|
3 | ||||
CHAMPLAIN INVESTMENT | PARTNERS | |||
THE ADVISORS’ INNER CIRCLE FUND II | CHAMPLAIN SMALL COMPANY FUND MARCH 31, 2021 (Unaudited) |
Percentages are based on Net Assets of $3,457,720,845.
* | Non-income producing security. |
** | Rate reported is the 7-day effective yield as of March 31, 2021. |
Cl — Class
At March 31, 2021, all of the Fund’s investments were considered Level 1, in accordance with the authoritative guidance on fair value measurements and disclosure under U.S. Generally Accepted Accounting Principles.
During the period ended March 31, 2021, there were no transfers in or out of Level 3.
For more information on the Fund’s policy regarding significant accounting policies including valuation of investments, please refer to the Fund’s most recent semi-annual or annual financial statements.
CSC-QH-001-3300
4 | ||||
CHAMPLAIN INVESTMENT | PARTNERS | |||
THE ADVISORS’ INNER CIRCLE FUND II | CHAMPLAIN MID CAP FUND MARCH 31, 2021 (Unaudited) |
SCHEDULE OF INVESTMENTS | ||||||||
COMMON STOCK — 98.3% | ||||||||
Shares | Value | |||||||
CONSUMER DISCRETIONARY — 8.7% | ||||||||
Advance Auto Parts | 845,000 | $ | 155,049,050 | |||||
Leslie’s * | 1,354,285 | 33,166,439 | ||||||
Planet Fitness, Cl A * | 403,460 | 31,187,458 | ||||||
Terminix Global Holdings * | 1,510,000 | 71,981,700 | ||||||
Tractor Supply | 740,000 | 131,039,200 | ||||||
Ulta Beauty * | 334,000 | 103,262,780 | ||||||
|
| |||||||
525,686,627 | ||||||||
|
| |||||||
CONSUMER STAPLES — 14.4% | ||||||||
Campbell Soup | 1,330,000 | 66,859,100 | ||||||
Church & Dwight | 940,000 | 82,109,000 | ||||||
Clorox | 515,000 | 99,333,200 | ||||||
Hershey | 830,000 | 131,272,800 | ||||||
Hormel Foods | 1,340,000 | 64,025,200 | ||||||
JM Smucker | 1,080,000 | 136,652,400 | ||||||
Lamb Weston Holdings | 1,290,000 | 99,949,200 | ||||||
Lancaster Colony | 165,000 | 28,934,400 | ||||||
McCormick | 700,000 | 62,412,000 | ||||||
Molson Coors Beverage, Cl B | 1,645,000 | 84,141,750 | ||||||
TreeHouse Foods * | 296,205 | 15,473,749 | ||||||
|
| |||||||
871,162,799 | ||||||||
|
| |||||||
FINANCIALS — 12.7% | ||||||||
Arthur J Gallagher | 1,141,725 | 142,453,028 | ||||||
Cullen/Frost Bankers | 818,940 | 89,067,915 | ||||||
Everest Re Group | 635,000 | 157,359,350 | ||||||
Northern Trust | 955,000 | 100,380,050 | ||||||
Prosperity Bancshares | 950,000 | 71,145,500 | ||||||
SVB Financial Group * | 168,000 | 82,934,880 | ||||||
Tradeweb Markets, Cl A | 1,747,725 | 129,331,650 | ||||||
|
| |||||||
772,672,373 | ||||||||
|
| |||||||
HEALTH CARE — 24.0% | ||||||||
Abcam PLC ADR | 28,870 | 554,881 | ||||||
Align Technology * | 220,000 | 119,136,600 | ||||||
Bio-Rad Laboratories, Cl A * | 130,000 | 74,252,100 | ||||||
Bio-Techne | 295,000 | 112,669,350 |
5 | ||||
CHAMPLAIN INVESTMENT | PARTNERS | |||
THE ADVISORS’ INNER CIRCLE FUND II | CHAMPLAIN MID CAP FUND MARCH 31, 2021 (Unaudited) |
COMMON STOCK — continued | ||||||||
Shares | Value | |||||||
HEALTH CARE — continued | ||||||||
Cantel Medical | 993,730 | $ | 79,339,403 | |||||
Catalent * | 710,000 | 74,770,100 | ||||||
Cooper | 269,650 | 103,569,869 | ||||||
DENTSPLY SIRONA | 2,415,000 | 154,101,150 | ||||||
Edwards Lifesciences * | 1,583,000 | 132,402,120 | ||||||
Envista Holdings * | 579,185 | 23,630,748 | ||||||
Integra LifeSciences Holdings * | 1,790,000 | 123,671,100 | ||||||
Maravai LifeSciences Holdings, Cl A * | 850,000 | 30,294,000 | ||||||
Masimo * | 395,000 | 90,715,700 | ||||||
Tandem Diabetes Care * | 665,000 | 58,686,250 | ||||||
Veeva Systems, Cl A * | 359,540 | 93,926,230 | ||||||
Waters * | 490,000 | 139,243,300 | ||||||
West Pharmaceutical Services | 145,000 | 40,858,100 | ||||||
|
| |||||||
1,451,821,001 | ||||||||
|
| |||||||
INDUSTRIALS — 16.4% | ||||||||
AMETEK | 1,475,000 | 188,401,750 | ||||||
Clarivate PLC * | 4,290,000 | 113,213,100 | ||||||
Fortive | 2,775,000 | 196,026,000 | ||||||
Generac Holdings * | 300,400 | 98,365,980 | ||||||
IDEX | 385,000 | 80,588,200 | ||||||
Nordson | 480,000 | 95,366,400 | ||||||
Rockwell Automation | 309,605 | 82,181,551 | ||||||
Toro | 895,000 | 92,310,300 | ||||||
Verisk Analytics, Cl A | 250,000 | 44,172,500 | ||||||
|
| |||||||
990,625,781 | ||||||||
|
| |||||||
INFORMATION TECHNOLOGY — 19.9% | ||||||||
Asana, Cl A * | 2,505,000 | 71,592,900 | ||||||
Medallia * | 3,995,000 | 111,420,550 | ||||||
New Relic * | 930,000 | 57,176,400 | ||||||
Okta, Cl A * | 325,000 | 71,639,750 | ||||||
Palo Alto Networks * | 370,000 | 119,162,200 | ||||||
Proofpoint * | 720,000 | 90,568,800 | ||||||
Pure Storage, Cl A * | 3,698,115 | 79,657,397 | ||||||
ServiceNow * | 105,000 | 52,511,550 | ||||||
Smartsheet, Cl A * | 1,400,000 | 89,488,000 |
6 | ||||
CHAMPLAIN INVESTMENT | PARTNERS | |||
THE ADVISORS’ INNER CIRCLE FUND II | CHAMPLAIN MID CAP FUND MARCH 31, 2021 (Unaudited) |
COMMON STOCK — continued | ||||||||
Shares | Value | |||||||
INFORMATION TECHNOLOGY — continued | ||||||||
Splunk * | 350,000 | $ | 47,418,000 | |||||
Synopsys * | 325,000 | 80,528,500 | ||||||
Workday, Cl A * | 735,000 | 182,596,050 | ||||||
Zendesk * | 403,000 | 53,445,860 | ||||||
Zscaler * | 555,000 | 95,276,850 | ||||||
|
| |||||||
1,202,482,807 | ||||||||
|
| |||||||
MATERIALS — 2.2% | ||||||||
AptarGroup | 945,000 | 133,878,150 | ||||||
|
| |||||||
TOTAL COMMON STOCK | 5,948,329,538 | |||||||
|
| |||||||
CASH EQUIVALENTS** — 1.3% | ||||||||
Fidelity Investments - Money Market Treasury Only Portfolio, Cl I, 0.010% | 20,000,000 | 20,000,000 | ||||||
Goldman Sachs Square Treasury Instruments Fund, Institutional Shares, 0.006% | 57,323,307 | 57,323,307 | ||||||
|
| |||||||
TOTAL CASH EQUIVALENTS | 77,323,307 | |||||||
|
| |||||||
TOTAL INVESTMENTS — 99.6% | $ | 6,025,652,845 | ||||||
|
|
Percentages are based on Net Assets of $6,049,164,102.
* | Non-income producing security. |
** | Rate reported is the 7-day effective yield as of March 31, 2021. |
ADR — American Depositary Receipt
Cl — Class
PLC — Public Limited Company
At March 31, 2021, all of the Fund’s investments were considered Level 1, in accordance with the authoritative guidance on fair value measurements and disclosure under U.S. Generally Accepted Accounting Principles.
During the period ended March 31, 2021, there were no transfers in or out of Level 3.
For more information on the Fund’s policy regarding significant accounting policies including valuation of investments, please refer to the Fund’s most recent semi-annual or annual financial statements.
CSC-QH-002-2600
7 | ||||
CHAMPLAIN INVESTMENT | PARTNERS | |||
THE ADVISORS’ INNER CIRCLE FUND II | CHAMPLAIN EMERGING MARKETS FUND MARCH 31, 2021 (Unaudited) |
SCHEDULE OF INVESTMENTS | ||||||||
COMMON STOCK — 96.8% | ||||||||
Shares | Value | |||||||
ARGENTINA — 2.5% | ||||||||
MercadoLibre * | 153 | $ | 225,237 | |||||
|
| |||||||
BRAZIL — 4.0% | ||||||||
Arco Platform, Cl A * | 1,615 | 40,924 | ||||||
B3 - Brasil Bolsa Balcao | 9,715 | 94,120 | ||||||
Pagseguro Digital, Cl A * | 2,245 | 103,944 | ||||||
XP, Cl A * | 3,285 | 123,746 | ||||||
|
| |||||||
362,734 | ||||||||
|
| |||||||
CHINA — 36.3% | ||||||||
AK Medical Holdings | 58,355 | 74,309 | ||||||
Alibaba Group Holding * | 17,690 | 500,588 | ||||||
Dada Nexus ADR * | 3,725 | 101,096 | ||||||
Foshan Haitian Flavouring & Food, Cl A | 2,900 | 70,697 | ||||||
Hefei Meyer Optoelectronic Technology, Cl A | 15,515 | 100,096 | ||||||
JD.com, Cl A * | 5,450 | 225,727 | ||||||
KE Holdings ADR * | 2,300 | 131,054 | ||||||
Meituan, Cl B * | 5,995 | 229,947 | ||||||
NetEase | 6,600 | 134,301 | ||||||
New Horizon Health * | 3,110 | 23,282 | ||||||
Sangfor Technologies, Cl A | 2,880 | 108,522 | ||||||
Shenzhen Inovance Technology, Cl A | 6,485 | 84,597 | ||||||
Shenzhen Mindray Bio-Medical Electronics, Cl A | 2,160 | 131,515 | ||||||
Sichuan Teway Food Group, Cl A | 10,615 | 78,281 | ||||||
SKSHU Paint, Cl A | 2,470 | 75,061 | ||||||
Tencent Holdings | 7,045 | 552,766 | ||||||
Venus MedTech Hangzhou, Cl H * | 10,095 | 81,869 | ||||||
Wuliangye Yibin, Cl A | 1,770 | 72,361 | ||||||
WuXi AppTec, Cl H | 8,738 | 171,850 | ||||||
Wuxi Biologics Cayman * | 17,780 | 222,637 | ||||||
Yum China Holdings | 1,475 | 87,335 | ||||||
|
| |||||||
3,257,891 | ||||||||
|
| |||||||
HONG KONG — 3.9% | ||||||||
AIA Group | 16,985 | 206,019 |
8 | ||||
CHAMPLAIN INVESTMENT | PARTNERS | |||
THE ADVISORS’ INNER CIRCLE FUND II | CHAMPLAIN EMERGING MARKETS FUND MARCH 31, 2021 (Unaudited) |
COMMON STOCK — continued | ||||||||
Shares | Value | |||||||
HONG KONG — continued | ||||||||
Hong Kong Exchanges & Clearing | 2,435 | $ | 143,260 | |||||
|
| |||||||
349,279 | ||||||||
|
| |||||||
HUNGARY — 1.7% | ||||||||
OTP Bank | 3,590 | 153,750 | ||||||
|
| |||||||
INDIA — 18.1% | ||||||||
Asian Paints | 3,740 | 129,796 | ||||||
Avenue Supermarts* | 2,155 | 84,269 | ||||||
Bajaj Finance * | 2,815 | 198,278 | ||||||
Bandhan Bank * | 33,180 | 153,797 | ||||||
HDFC Bank * | 13,165 | 268,950 | ||||||
Kotak Mahindra Bank * | 4,390 | 105,256 | ||||||
L&T Technology Services | 3,165 | 114,884 | ||||||
Reliance Industries | 15,085 | 413,284 | ||||||
Tata Consultancy Services | 3,645 | 158,428 | ||||||
|
| |||||||
1,626,942 | ||||||||
|
| |||||||
INDONESIA — 1.7% | ||||||||
Bank Central Asia | 71,375 | 152,701 | ||||||
|
| |||||||
MEXICO — 1.8% | ||||||||
Wal-Mart de Mexico | 50,435 | 159,115 | ||||||
|
| |||||||
RUSSIA — 3.6% | ||||||||
Ozon Holdings ADR * | 1,545 | 86,628 | ||||||
TCS Group Holding PLC GDR | 4,140 | 240,120 | ||||||
|
| |||||||
326,748 | ||||||||
|
| |||||||
SINGAPORE — 2.1% | ||||||||
Sea ADR * | 850 | 189,746 | ||||||
|
| |||||||
SOUTH AFRICA — 0.8% | ||||||||
Clicks Group | 4,135 | 67,319 | ||||||
|
|
9 | ||||
CHAMPLAIN INVESTMENT | PARTNERS | |||
THE ADVISORS’ INNER CIRCLE FUND II | CHAMPLAIN EMERGING MARKETS FUND MARCH 31, 2021 (Unaudited) |
COMMON STOCK — continued | ||||||||
Shares | Value | |||||||
SOUTH KOREA — 6.0% | ||||||||
Kakao | 540 | $ | 237,614 | |||||
Koh Young Technology | 1,010 | 102,628 | ||||||
LG Household & Health Care | 45 | 62,426 | ||||||
NCsoft | 175 | 134,990 | ||||||
|
| |||||||
537,658 | ||||||||
|
| |||||||
TAIWAN — 11.2% | ||||||||
Airtac International Group | 4,130 | 145,469 | ||||||
Silergy | 720 | 58,164 | ||||||
Taiwan Semiconductor Manufacturing | 31,255 | 642,999 | ||||||
Voltronic Power Technology | 4,110 | 159,168 | ||||||
|
| |||||||
1,005,800 | ||||||||
|
| |||||||
UNITED KINGDOM — 1.5% | ||||||||
Unilever PLC ADR | 2,335 | 130,363 | ||||||
|
| |||||||
UNITED STATES — 1.6% | ||||||||
EPAM Systems * | 350 | 138,842 | ||||||
|
| |||||||
TOTAL COMMON STOCK | 8,684,125 | |||||||
|
| |||||||
PREFERRED STOCK — 1.0% | ||||||||
BRAZIL — 1.0% | ||||||||
Banco Inter † | 9,540 | 87,911 | ||||||
|
| |||||||
TOTAL PREFERRED STOCK | 87,911 | |||||||
|
| |||||||
TOTAL INVESTMENTS — 97.8% | $ | 8,772,036 | ||||||
|
|
Percentages are based on Net Assets of $8,966,161.
* | Non-income producing security. |
† | There is currently no rate available. |
10 | ||||
CHAMPLAIN INVESTMENT | PARTNERS | |||
THE ADVISORS’ INNER CIRCLE FUND II | CHAMPLAIN EMERGING MARKETS FUND MARCH 31, 2021 (Unaudited) |
ADR — American Depositary Receipt
Cl — Class
GDR — Global Depositary Receipt
PLC — Public Limited Company
At March 31, 2021, all of the Fund’s investments were considered Level 1, in accordance with the authoritative guidance on fair value measurements and disclosure under U.S. Generally Accepted Accounting Principles.
During the period ended March 31, 2021, there were no transfers in or out of Level 3.
For more information on the Fund’s policy regarding significant accounting policies including valuation of investments, please refer to the Fund’s most recent semi-annual or annual financial statements.
CSC-QH-004-1200
11 | ||||
CHAMPLAIN INVESTMENT | PARTNERS | |||