# EDGAR Filing Document

**Accession Number:** 0000878719
**File Stem:** 0002048251-25-000746
**Filing Date:** 2025-9
**Character Count:** 60375
**Document Hash:** db61cc09d59eddd3a071386a153fc475
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0002048251-25-000746.hdr.sgml**: 20250929

**ACCESSION NUMBER**: 0002048251-25-000746

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20250731

**FILED AS OF DATE**: 20250929

**DATE AS OF CHANGE**: 20250929

**PERIOD START**: 20251031

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** ADVISORS' INNER CIRCLE FUND
- **CENTRAL INDEX KEY:** 0000878719

**ORGANIZATION NAME:**
- **EIN:** 000000000
- **FISCAL YEAR END:** 1031

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-06400
- **FILM NUMBER:** 251353816

**BUSINESS ADDRESS:**
- **STREET 1:** 1 FREEDOM VALLEY DRIVE
- **CITY:** OAKS
- **STATE:** PA
- **ZIP:** 19087
- **BUSINESS PHONE:** 8009327781

**MAIL ADDRESS:**
- **STREET 1:** 1 FREEDOM VALLEY DRIVE
- **CITY:** OAKS
- **STATE:** PA
- **ZIP:** 19087

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** ADVISORS INNER CIRCLE FUND
- **DATE OF NAME CHANGE:** 19920929

## Series and Classes Contracts Data

### CIBC ATLAS ALL CAP GROWTH FUND (Series ID: S000059860)

| Class ID   | Class Name                 | Ticker Symbol   |
|:---|:---|:---|
| C000195841 | Institutional Class Shares | AWGIX           |

## Nport-Ex

---

| | |
|:---|:---|
| **THE ADVISORS' INNER CIRCLE FUND** | **CIBC ATLAS** |
|  | **DISCIPLINED EQUITY FUND** |
|  | **JULY 31, 2025 (Unaudited)** |

---

---

| | | |
|:---|:---|:---|
| SCHEDULE OF INVESTMENTS |  |  |
| COMMON STOCK\*\* — 99.2% | Shares | Value |
| COMMUNICATION SERVICES — 8.9% |  |  |
| &nbsp;&nbsp;&nbsp;Alphabet, Cl A | 300212 | $57610683 |
| &nbsp;&nbsp;&nbsp;Alphabet, Cl C | 197004 | 37994191 |
| &nbsp;&nbsp;&nbsp;Meta Platforms, Cl A | 43980 | 34015891 |
| &nbsp;&nbsp;&nbsp;T-Mobile US | 30620 | 7300114 |
| &nbsp;&nbsp;&nbsp;Walt Disney | 147886 | 17614702 |
|  |  | 154535581 |
| CONSUMER DISCRETIONARY — 11.4% |  |  |
| &nbsp;&nbsp;&nbsp;Amazon.com \* | 521539 | 122097495 |
| &nbsp;&nbsp;&nbsp;Flutter Entertainment PLC \* | 31810 | 9614891 |
| &nbsp;&nbsp;&nbsp;Home Depot | 41656 | 15308997 |
| &nbsp;&nbsp;&nbsp;McDonald's | 72314 | 21699262 |
| &nbsp;&nbsp;&nbsp;O'Reilly Automotive \* | 113670 | 11176034 |
| &nbsp;&nbsp;&nbsp;TJX | 159730 | 19891177 |
|  |  | 199787856 |
| CONSUMER STAPLES — 2.8% |  |  |
| &nbsp;&nbsp;&nbsp;Mondelez International, Cl A | 199751 | 12921892 |
| &nbsp;&nbsp;&nbsp;Monster Beverage \* | 328045 | 19272644 |
| &nbsp;&nbsp;&nbsp;PepsiCo | 116300 | 16040096 |
|  |  | 48234632 |
| ENERGY — 3.8% |  |  |
| &nbsp;&nbsp;&nbsp;Cheniere Energy | 70402 | 16606424 |
| &nbsp;&nbsp;&nbsp;Chesapeake Energy | 78740 | 8250377 |
| &nbsp;&nbsp;&nbsp;Chevron | 88568 | 13430452 |
| &nbsp;&nbsp;&nbsp;Exxon Mobil | 249733 | 27880192 |
|  |  | 66167445 |
| FINANCIALS — 16.0% |  |  |
| &nbsp;&nbsp;&nbsp;BlackRock Funding | 16737 | 18511289 |
| &nbsp;&nbsp;&nbsp;Blackstone, Cl A | 202916 | 35096351 |
| &nbsp;&nbsp;&nbsp;CME Group, Cl A | 72951 | 20300804 |
| &nbsp;&nbsp;&nbsp;Fidelity National Information Services | 224526 | 17829610 |
| &nbsp;&nbsp;&nbsp;Fiserv \* | 139687 | 19408112 |
| &nbsp;&nbsp;&nbsp;Intercontinental Exchange | 166029 | 30687140 |
| &nbsp;&nbsp;&nbsp;JPMorgan Chase | 115312 | 34160027 |
| &nbsp;&nbsp;&nbsp;PNC Financial Services Group | 86704 | 16497170 |
| &nbsp;&nbsp;&nbsp;Progressive | 54698 | 13239104 |
| &nbsp;&nbsp;&nbsp;S&P Global | 34826 | 19192609 |

---

 **1**

---

| | |
|:---|:---|
| **THE ADVISORS' INNER CIRCLE FUND** | **CIBC ATLAS** |
|  | **DISCIPLINED EQUITY FUND** |
|  | **JULY 31, 2025 (Unaudited)** |

---

---

| | | |
|:---|:---|:---|
| COMMON STOCK\*\* (continued) | Shares | Value |
| FINANCIALS (continued) |  |  |
| &nbsp;&nbsp;&nbsp;Visa, Cl A | 155952 | $53876737 |
|  |  | 278798953 |
| HEALTH CARE — 9.5% |  |  |
| &nbsp;&nbsp;&nbsp;Abbott Laboratories | 122186 | 15418651 |
| &nbsp;&nbsp;&nbsp;AstraZeneca PLC ADR | 418651 | 30599202 |
| &nbsp;&nbsp;&nbsp;Danaher | 122816 | 24214403 |
| &nbsp;&nbsp;&nbsp;IDEXX Laboratories \* | 19472 | 10404084 |
| &nbsp;&nbsp;&nbsp;IQVIA Holdings \* | 99537 | 18499947 |
| &nbsp;&nbsp;&nbsp;Stryker | 40030 | 15720982 |
| &nbsp;&nbsp;&nbsp;Thermo Fisher Scientific | 55418 | 25917890 |
| &nbsp;&nbsp;&nbsp;UnitedHealth Group | 62991 | 15720034 |
| &nbsp;&nbsp;&nbsp;Zoetis, Cl A | 54460 | 7939723 |
|  |  | 164434916 |
| INDUSTRIALS — 6.4% |  |  |
| &nbsp;&nbsp;&nbsp;Automatic Data Processing | 64874 | 20078503 |
| &nbsp;&nbsp;&nbsp;Eaton PLC | 44507 | 17122733 |
| &nbsp;&nbsp;&nbsp;Otis Worldwide | 119542 | 10243554 |
| &nbsp;&nbsp;&nbsp;RTX | 246748 | 38880082 |
| &nbsp;&nbsp;&nbsp;Union Pacific | 117996 | 26191572 |
|  |  | 112516444 |
| INFORMATION TECHNOLOGY — 33.4% |  |  |
| &nbsp;&nbsp;&nbsp;Adobe \* | 38622 | 13814703 |
| &nbsp;&nbsp;&nbsp;Analog Devices | 67880 | 15247885 |
| &nbsp;&nbsp;&nbsp;Apple | 382716 | 79440360 |
| &nbsp;&nbsp;&nbsp;ASML Holding, Cl G | 16385 | 11382823 |
| &nbsp;&nbsp;&nbsp;Broadcom | 63444 | 18633503 |
| &nbsp;&nbsp;&nbsp;Cisco Systems | 142312 | 9688601 |
| &nbsp;&nbsp;&nbsp;Microsoft | 311027 | 165932905 |
| &nbsp;&nbsp;&nbsp;NVIDIA | 757008 | 134649013 |
| &nbsp;&nbsp;&nbsp;QUALCOMM | 167373 | 24563661 |
| &nbsp;&nbsp;&nbsp;Roper Technologies | 35485 | 19530944 |
| &nbsp;&nbsp;&nbsp;Salesforce | 128636 | 33230538 |
| &nbsp;&nbsp;&nbsp;TE Connectivity PLC | 169179 | 34808579 |
| &nbsp;&nbsp;&nbsp;Workday, Cl A \* | 98681 | 22635448 |
|  |  | 583558963 |
| MATERIALS — 2.9% |  |  |
| &nbsp;&nbsp;&nbsp;Linde PLC | 49444 | 22757096 |

---

 **2**

---

| | |
|:---|:---|
| **THE ADVISORS' INNER CIRCLE FUND** | **CIBC ATLAS** |
|  | **DISCIPLINED EQUITY FUND** |
|  | **JULY 31, 2025 (Unaudited)** |

---

---

| | | |
|:---|:---|:---|
| COMMON STOCK\*\* (continued) | Shares | Value |
| MATERIALS (continued) |  |  |
| &nbsp;&nbsp;&nbsp;Martin Marietta Materials | 47489 | $27300476 |
|  |  | 50057572 |
| REAL ESTATE — 2.7% |  |  |
| &nbsp;&nbsp;&nbsp;American Tower, Cl A ‡ | 49309 | 10275503 |
| &nbsp;&nbsp;&nbsp;CoStar Group \* | 109813 | 10453100 |
| &nbsp;&nbsp;&nbsp;Prologis ‡ | 151807 | 16209951 |
| &nbsp;&nbsp;&nbsp;VICI Properties, Cl A ‡ | 315777 | 10294330 |
|  |  | 47232884 |
| UTILITIES — 1.4% |  |  |
| &nbsp;&nbsp;&nbsp;NextEra Energy | 349802 | 24856930 |
| &nbsp;&nbsp;&nbsp;TOTAL COMMON STOCK |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;(Cost $741,364,254) |  | 1730182176 |
| CASH EQUIVALENT — 0.8% |  |  |
| &nbsp;&nbsp;&nbsp;First American Government Obligations Fund, Cl X, 4.230% (A) | 14704353 | 14704353 |
| &nbsp;&nbsp;&nbsp;TOTAL CASH EQUIVALENT |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;(Cost $14,704,353) |  | 14704353 |
| TOTAL INVESTMENTS — 100.0% |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;(Cost $756,068,607) |  | $1744886529 |

---

*Percentages are based on Net Assets of $1,744,240,653.*

\* *Non-income producing security.* 

\*\* *More narrow industries are utilized for compliance purposes, whereas broad sectors are utilized for reporting periods.* 

&nbsp;&nbsp;&nbsp;&nbsp;*‡* *Real Estate Investment Trust* 

&nbsp;&nbsp;&nbsp;&nbsp;*(A)* *The rate reported is the 7-day effective yield as of July 31, 2025.* 

ADR — American Depositary Receipt

Cl — Class

PLC — Public Limited Company

*ATF-QH-001-2400*

 **3**

---

| | |
|:---|:---|
| **THE ADVISORS' INNER CIRCLE FUND** | **CIBC ATLAS** |
|  | **MID CAP EQUITY FUND** |
|  | **JULY 31, 2025 (Unaudited)** |

---

---

| | | |
|:---|:---|:---|
| SCHEDULE OF INVESTMENTS |  |  |
| COMMON STOCK — 98.7% | Shares | Value |
| COMMUNICATION SERVICES — 3.1% |  |  |
| &nbsp;&nbsp;&nbsp;Live Nation Entertainment \* | 60930 | $8999361 |
| &nbsp;&nbsp;&nbsp;Pinterest, Cl A \* | 213134 | 8226972 |
| &nbsp;&nbsp;&nbsp;Trade Desk, Cl A \* | 124229 | 10802954 |
|  |  | 28029287 |
| CONSUMER DISCRETIONARY — 19.2% |  |  |
| &nbsp;&nbsp;&nbsp;AutoZone \* | 5672 | 21374251 |
| &nbsp;&nbsp;&nbsp;Chipotle Mexican Grill, Cl A \* | 201125 | 8624240 |
| &nbsp;&nbsp;&nbsp;Domino's Pizza | 16255 | 7529479 |
| &nbsp;&nbsp;&nbsp;DraftKings, Cl A \* | 513493 | 23127725 |
| &nbsp;&nbsp;&nbsp;Floor & Decor Holdings, Cl A \* | 57028 | 4370626 |
| &nbsp;&nbsp;&nbsp;Marriott International, Cl A | 69132 | 18239096 |
| &nbsp;&nbsp;&nbsp;Planet Fitness, Cl A \* | 60937 | 6653711 |
| &nbsp;&nbsp;&nbsp;Ross Stores | 140134 | 19133896 |
| &nbsp;&nbsp;&nbsp;Royal Caribbean Cruises | 77451 | 24619349 |
| &nbsp;&nbsp;&nbsp;Tractor Supply | 281926 | 16055686 |
| &nbsp;&nbsp;&nbsp;Ulta Beauty \* | 17140 | 8827271 |
| &nbsp;&nbsp;&nbsp;Valvoline \* | 221034 | 7791448 |
| &nbsp;&nbsp;&nbsp;Wingstop | 13176 | 4971832 |
|  |  | 171318610 |
| CONSUMER STAPLES — 4.1% |  |  |
| &nbsp;&nbsp;&nbsp;Monster Beverage \* | 220449 | 12951379 |
| &nbsp;&nbsp;&nbsp;Sprouts Farmers Market \* | 67732 | 10264107 |
| &nbsp;&nbsp;&nbsp;US Foods Holding \* | 157883 | 13156391 |
|  |  | 36371877 |
| ENERGY — 3.2% |  |  |
| &nbsp;&nbsp;&nbsp;Cheniere Energy | 87343 | 20602467 |
| &nbsp;&nbsp;&nbsp;Diamondback Energy | 54485 | 8099740 |
|  |  | 28702207 |
| FINANCIALS — 10.0% |  |  |
| &nbsp;&nbsp;&nbsp;Ameriprise Financial | 53523 | 27735083 |
| &nbsp;&nbsp;&nbsp;Ares Management, Cl A | 73105 | 13563171 |
| &nbsp;&nbsp;&nbsp;Arthur J Gallagher | 39129 | 11239805 |
| &nbsp;&nbsp;&nbsp;Corpay \* | 43177 | 13948330 |
| &nbsp;&nbsp;&nbsp;MSCI, Cl A | 12074 | 6777861 |
| &nbsp;&nbsp;&nbsp;Tradeweb Markets, Cl A | 114068 | 15804121 |
|  |  | 89068371 |

---

 **4**

---

| | |
|:---|:---|
| **THE ADVISORS' INNER CIRCLE FUND** | **CIBC ATLAS** |
|  | **MID CAP EQUITY FUND** |
|  | **JULY 31, 2025 (Unaudited)** |

---

---

| | | |
|:---|:---|:---|
| COMMON STOCK (continued) | Shares | Value |
| HEALTH CARE — 14.0% |  |  |
| &nbsp;&nbsp;&nbsp;Align Technology \* | 45056 | $5812675 |
| &nbsp;&nbsp;&nbsp;Alnylam Pharmaceuticals \* | 64506 | 25301833 |
| &nbsp;&nbsp;&nbsp;Cencora | 83911 | 24005259 |
| &nbsp;&nbsp;&nbsp;Dexcom \* | 182299 | 14724290 |
| &nbsp;&nbsp;&nbsp;GE HealthCare Technologies | 47775 | 3407313 |
| &nbsp;&nbsp;&nbsp;HealthEquity \* | 43963 | 4264411 |
| &nbsp;&nbsp;&nbsp;IDEXX Laboratories \* | 22943 | 12258674 |
| &nbsp;&nbsp;&nbsp;Natera \* | 35624 | 4761504 |
| &nbsp;&nbsp;&nbsp;Revvity | 84954 | 7467457 |
| &nbsp;&nbsp;&nbsp;Veeva Systems, Cl A \* | 78254 | 22239787 |
|  |  | 124243203 |
| INDUSTRIALS — 22.1% |  |  |
| &nbsp;&nbsp;&nbsp;AMETEK | 68161 | 12599561 |
| &nbsp;&nbsp;&nbsp;Axon Enterprise \* | 11027 | 8330788 |
| &nbsp;&nbsp;&nbsp;Cintas | 45006 | 10016085 |
| &nbsp;&nbsp;&nbsp;Copart \* | 225504 | 10222096 |
| &nbsp;&nbsp;&nbsp;Curtiss-Wright | 21730 | 10652480 |
| &nbsp;&nbsp;&nbsp;EMCOR Group | 10377 | 6511464 |
| &nbsp;&nbsp;&nbsp;Howmet Aerospace | 196371 | 35301615 |
| &nbsp;&nbsp;&nbsp;Hubbell, Cl B | 31202 | 13650251 |
| &nbsp;&nbsp;&nbsp;IDEX | 43115 | 7049734 |
| &nbsp;&nbsp;&nbsp;Ingersoll Rand | 76347 | 6461247 |
| &nbsp;&nbsp;&nbsp;Oshkosh | 49289 | 6236537 |
| &nbsp;&nbsp;&nbsp;Pentair PLC | 53350 | 5452370 |
| &nbsp;&nbsp;&nbsp;Regal Rexnord | 47933 | 7327997 |
| &nbsp;&nbsp;&nbsp;Saia \* | 19670 | 5945061 |
| &nbsp;&nbsp;&nbsp;TransUnion | 109347 | 10408741 |
| &nbsp;&nbsp;&nbsp;Vertiv Holdings, Cl A | 86180 | 12547808 |
| &nbsp;&nbsp;&nbsp;Waste Connections | 77631 | 14491379 |
| &nbsp;&nbsp;&nbsp;WESCO International | 32947 | 6818711 |
| &nbsp;&nbsp;&nbsp;Zurn Elkay Water Solutions | 149285 | 6605861 |
|  |  | 196629786 |
| INFORMATION TECHNOLOGY — 21.3% |  |  |
| &nbsp;&nbsp;&nbsp;Amphenol, Cl A | 169111 | 18012013 |
| &nbsp;&nbsp;&nbsp;Cadence Design Systems \* | 31694 | 11554681 |
| &nbsp;&nbsp;&nbsp;Cloudflare, Cl A \* | 94949 | 19719008 |
| &nbsp;&nbsp;&nbsp;CyberArk Software \* | 37768 | 15540399 |
| &nbsp;&nbsp;&nbsp;Datadog, Cl A \* | 161491 | 22605510 |
| &nbsp;&nbsp;&nbsp;Entegris | 107593 | 8441747 |
| &nbsp;&nbsp;&nbsp;HubSpot \* | 35654 | 18527601 |
| &nbsp;&nbsp;&nbsp;Keysight Technologies \* | 46760 | 7664432 |

---

 **5**

---

| | |
|:---|:---|
| **THE ADVISORS' INNER CIRCLE FUND** | **CIBC ATLAS** |
|  | **MID CAP EQUITY FUND** |
|  | **JULY 31, 2025 (Unaudited)** |

---

---

| | | |
|:---|:---|:---|
| COMMON STOCK (continued) | Shares | Value |
| INFORMATION TECHNOLOGY (continued) |  |  |
| &nbsp;&nbsp;&nbsp;Marvell Technology | 134068 | $10775045 |
| &nbsp;&nbsp;&nbsp;Monday.com \* | 47597 | 12484217 |
| &nbsp;&nbsp;&nbsp;Monolithic Power Systems | 18231 | 12966616 |
| &nbsp;&nbsp;&nbsp;Procore Technologies \* | 81351 | 5827172 |
| &nbsp;&nbsp;&nbsp;Roper Technologies | 16779 | 9235162 |
| &nbsp;&nbsp;&nbsp;Zscaler \* | 57005 | 16278348 |
|  |  | 189631951 |
| REAL ESTATE — 0.8% |  |  |
| &nbsp;&nbsp;&nbsp;CoStar Group \* | 76148 | 7248528 |
| UTILITIES — 0.9% |  |  |
| &nbsp;&nbsp;&nbsp;NRG Energy | 45467 | 7602083 |
| &nbsp;&nbsp;&nbsp;TOTAL COMMON STOCK |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;(Cost $558,352,821) |  | 878845903 |
| CASH EQUIVALENT — 1.4% |  |  |
| &nbsp;&nbsp;&nbsp;First American Government Obligations Fund, Cl X, 4.230% (A) | 12084959 | 12084959 |
| &nbsp;&nbsp;&nbsp;TOTAL CASH EQUIVALENT |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;(Cost $12,084,959) |  | 12084959 |
| TOTAL INVESTMENTS — 100.1% |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;(Cost $570,437,780) |  | $890930862 |

---

*Percentages are based on Net Assets of $890,460,419.*

*\** *Non-income producing security.*

&nbsp;&nbsp;&nbsp;&nbsp;*(A)* *The rate reported is the 7-day effective yield as of July 31, 2025.* 

Cl — Class

PLC — Public Limited Company

*ATF-QH-002-2300*

 **6**

---

| | |
|:---|:---|
| **THE ADVISORS' INNER CIRCLE FUND** | **CIBC ATLAS** |
|  | **INCOME OPPORTUNITIES FUND** |
|  | **JULY 31, 2025 (Unaudited)** |

---

---

| | | |
|:---|:---|:---|
| SCHEDULE OF INVESTMENTS |  |  |
| COMMON STOCK — 57.5% | Shares | Value |
| COMMUNICATION SERVICES — 0.6% |  |  |
| &nbsp;&nbsp;&nbsp;Alphabet, Cl A | 10300 | $1976570 |
| &nbsp;&nbsp;&nbsp;Meta Platforms, Cl A | 2600 | 2010944 |
|  |  | 3987514 |
| CONSUMER DISCRETIONARY — 3.6% |  |  |
| &nbsp;&nbsp;&nbsp;Amazon.com \* | 25600 | 5993216 |
| &nbsp;&nbsp;&nbsp;Home Depot | 17300 | 6357923 |
| &nbsp;&nbsp;&nbsp;McDonald's | 12200 | 3660854 |
| &nbsp;&nbsp;&nbsp;Service Corp International | 97953 | 7474793 |
|  |  | 23486786 |
| CONSUMER STAPLES — 2.6% |  |  |
| &nbsp;&nbsp;&nbsp;PepsiCo | 58000 | 7999360 |
| &nbsp;&nbsp;&nbsp;Procter & Gamble | 63000 | 9479610 |
|  |  | 17478970 |
| ENERGY — 2.7% |  |  |
| &nbsp;&nbsp;&nbsp;Cheniere Energy | 28829 | 6800185 |
| &nbsp;&nbsp;&nbsp;Chevron | 39233 | 5949292 |
| &nbsp;&nbsp;&nbsp;EQT | 92000 | 4945000 |
|  |  | 17694477 |
| FINANCIALS — 12.8% |  |  |
| &nbsp;&nbsp;&nbsp;Ares Capital | 318623 | 7210438 |
| &nbsp;&nbsp;&nbsp;Ares Management, Cl A | 66000 | 12244980 |
| &nbsp;&nbsp;&nbsp;Blue Owl Capital, Cl A | 580000 | 11223000 |
| &nbsp;&nbsp;&nbsp;CME Group, Cl A | 14972 | 4166408 |
| &nbsp;&nbsp;&nbsp;Fidelity National Information Services | 64500 | 5121945 |
| &nbsp;&nbsp;&nbsp;HA Sustainable Infrastructure Capital | 256594 | 6663746 |
| &nbsp;&nbsp;&nbsp;JPMorgan Chase | 46200 | 13686288 |
| &nbsp;&nbsp;&nbsp;S&P Global | 15575 | 8583383 |
| &nbsp;&nbsp;&nbsp;Visa, Cl A | 45100 | 15580697 |
|  |  | 84480885 |
| HEALTH CARE — 5.2% |  |  |
| &nbsp;&nbsp;&nbsp;Abbott Laboratories | 63720 | 8040827 |
| &nbsp;&nbsp;&nbsp;Danaher | 50910 | 10037416 |
| &nbsp;&nbsp;&nbsp;Johnson & Johnson | 41780 | 6882837 |
| &nbsp;&nbsp;&nbsp;Novartis ADR | 37912 | 4312111 |
| &nbsp;&nbsp;&nbsp;UnitedHealth Group | 20120 | 5021147 |
|  |  | 34294338 |

---

 **7**

---

| | |
|:---|:---|
| **THE ADVISORS' INNER CIRCLE FUND** | **CIBC ATLAS** |
|  | **INCOME OPPORTUNITIES FUND** |
|  | **JULY 31, 2025 (Unaudited)** |

---

---

| | | |
|:---|:---|:---|
| COMMON STOCK (continued) | Shares | Value |
| INDUSTRIALS — 5.7% |  |  |
| &nbsp;&nbsp;&nbsp;Automatic Data Processing | 18084 | $5596998 |
| &nbsp;&nbsp;&nbsp;IDEX | 25331 | 4141872 |
| &nbsp;&nbsp;&nbsp;Lockheed Martin | 15374 | 6472147 |
| &nbsp;&nbsp;&nbsp;Republic Services, Cl A | 35500 | 8188075 |
| &nbsp;&nbsp;&nbsp;Rollins | 73250 | 4195027 |
| &nbsp;&nbsp;&nbsp;Union Pacific | 42000 | 9322740 |
|  |  | 37916859 |
| INFORMATION TECHNOLOGY — 16.9% |  |  |
| &nbsp;&nbsp;&nbsp;Apple | 135000 | 28021950 |
| &nbsp;&nbsp;&nbsp;ASML Holding, Cl G | 6600 | 4585086 |
| &nbsp;&nbsp;&nbsp;Broadcom | 65500 | 19237350 |
| &nbsp;&nbsp;&nbsp;Cisco Systems | 61759 | 4204553 |
| &nbsp;&nbsp;&nbsp;Microsoft | 71200 | 37985200 |
| &nbsp;&nbsp;&nbsp;QUALCOMM | 64000 | 9392640 |
| &nbsp;&nbsp;&nbsp;Taiwan Semiconductor Manufacturing ADR | 20300 | 4904886 |
| &nbsp;&nbsp;&nbsp;Workday, Cl A \* | 14700 | 3371886 |
|  |  | 111703551 |
| MATERIALS — 2.6% |  |  |
| &nbsp;&nbsp;&nbsp;Linde PLC | 21000 | 9665460 |
| &nbsp;&nbsp;&nbsp;Martin Marietta Materials | 7100 | 4081648 |
| &nbsp;&nbsp;&nbsp;Sherwin-Williams | 10631 | 3517585 |
|  |  | 17264693 |
| REAL ESTATE — 2.0% |  |  |
| &nbsp;&nbsp;&nbsp;Invitation Homes ‡ | 120836 | 3703624 |
| &nbsp;&nbsp;&nbsp;Prologis ‡ | 53383 | 5700237 |
| &nbsp;&nbsp;&nbsp;VICI Properties, Cl A ‡ | 107859 | 3516203 |
|  |  | 12920064 |
| UTILITIES — 2.8% |  |  |
| &nbsp;&nbsp;&nbsp;Brookfield Infrastructure | 200581 | 7830682 |
| &nbsp;&nbsp;&nbsp;NextEra Energy | 152671 | 10848801 |
|  |  | 18679483 |
| &nbsp;&nbsp;&nbsp;TOTAL COMMON STOCK |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(Cost $201,000,939) |  | 379907620 |

---

---

| | | |
|:---|:---|:---|
| CORPORATE OBLIGATIONS — 17.2% | Face Amount |  |
| COMMUNICATION SERVICES — 1.6% |  |  |
| &nbsp;&nbsp;&nbsp;Comcast |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.937%, 11/01/56 | $6111000 | 3530423.0 |

---

 **8**

---

| | |
|:---|:---|
| **THE ADVISORS' INNER CIRCLE FUND** | **CIBC ATLAS** |
|  | **INCOME OPPORTUNITIES FUND** |
|  | **JULY 31, 2025 (Unaudited)** |

---

---

| | | |
|:---|:---|:---|
| CORPORATE OBLIGATIONS (continued) | Face Amount | Value |
| COMMUNICATION SERVICES (continued) |  |  |
| &nbsp;&nbsp;&nbsp;T-Mobile USA |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.500%, 04/15/31 | $5000000 | $4687227 |
| &nbsp;&nbsp;&nbsp;Verizon Communications |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.355%, 03/15/32 | 2441000 | 2098555 |
|  |  | 10316205 |
| CONSUMER DISCRETIONARY — 2.5% |  |  |
| &nbsp;&nbsp;&nbsp;Ford Motor Credit |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.350%, 11/04/27 | 4000000 | 4143639 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.950%, 03/06/26 | 2000000 | 2015715 |
| &nbsp;&nbsp;&nbsp;General Motors |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.800%, 10/01/27 | 3500000 | 3640636 |
| &nbsp;&nbsp;&nbsp;Meritage Homes |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.875%, 04/15/29(A) | 7000000 | 6756649 |
|  |  | 16556639 |
| CONSUMER STAPLES — 0.7% |  |  |
| &nbsp;&nbsp;&nbsp;JBS USA Holding Lux SARL |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.500%, 01/15/36(A) | 5000000 | 4979650 |
| ENERGY — 2.5% |  |  |
| &nbsp;&nbsp;&nbsp;Cheniere Energy Partners |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.500%, 10/01/29 | 5000000 | 4945745 |
| &nbsp;&nbsp;&nbsp;DCP Midstream Operating |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.750%, 09/15/37(A) | 1500000 | 1580107 |
| &nbsp;&nbsp;&nbsp;Energy Transfer |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.550%, 05/15/34 | 2952000 | 2977587 |
| &nbsp;&nbsp;&nbsp;Kinder Morgan MTN |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.800%, 08/01/31 | 1400000 | 1608082 |
| &nbsp;&nbsp;&nbsp;ONEOK |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.625%, 09/01/53 | 5000000 | 5171145 |
|  |  | 16282666 |
| FINANCIALS — 5.5% |  |  |
| &nbsp;&nbsp;&nbsp;Ally Financial |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.200%, 11/02/28 | 6000000 | 5538049 |
| &nbsp;&nbsp;&nbsp;Ares Capital |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.875%, 03/01/29 | 6000000 | 6127532 |
| &nbsp;&nbsp;&nbsp;Bank of America |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.300%, TSFR3M + 4.815%(B)(C) | 5000000 | 5019580 |
| &nbsp;&nbsp;&nbsp;Citigroup |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.250%, TSFR3M + 4.779%(B)(C) | 3000000 | 3016866 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.875%, H15T5Y + 3.417%(B)(C) | 6500000 | 6423584 |

---

 **9**

---

| | |
|:---|:---|
| **THE ADVISORS' INNER CIRCLE FUND** | **CIBC ATLAS** |
|  | **INCOME OPPORTUNITIES FUND** |
|  | **JULY 31, 2025 (Unaudited)** |

---

---

| | | |
|:---|:---|:---|
| CORPORATE OBLIGATIONS (continued) | Face Amount | Value |
| FINANCIALS (continued) |  |  |
| &nbsp;&nbsp;&nbsp;Goldman Sachs Group MTN |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.325%, TSFR3M + 2.012%, 10/28/27(B) | $3000000 | $3054022 |
| &nbsp;&nbsp;&nbsp;Morgan Stanley MTN |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.250%, SOFRRATE + 1.870%, 04/21/34(B) | 4000000 | 4064657 |
| &nbsp;&nbsp;&nbsp;OneMain Finance |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.500%, 01/15/27 | 3000000 | 2927257 |
|  |  | 36171547 |
| HEALTH CARE — 0.4% |  |  |
| &nbsp;&nbsp;&nbsp;AbbVie |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.250%, 11/21/49 | 3500000 | 2854860 |
| INDUSTRIALS — 1.2% |  |  |
| &nbsp;&nbsp;&nbsp;AerCap Ireland Capital DAC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.000%, 10/29/28 | 2000000 | 1903366 |
| &nbsp;&nbsp;&nbsp;Northrop Grumman |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.030%, 10/15/47 | 3000000 | 2384019 |
| &nbsp;&nbsp;&nbsp;Quanta Services |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.900%, 10/01/30 | 3750000 | 3447105 |
|  |  | 7734490 |
| INFORMATION TECHNOLOGY — 1.6% |  |  |
| &nbsp;&nbsp;&nbsp;Apple |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.850%, 08/04/46 | 3000000 | 2416894 |
| &nbsp;&nbsp;&nbsp;Broadcom |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.469%, 04/15/34(A) | 2500000 | 2221953 |
| &nbsp;&nbsp;&nbsp;Kyndryl Holdings |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.050%, 10/15/26 | 1000000 | 969102 |
| &nbsp;&nbsp;&nbsp;Oracle |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.150%, 11/09/29 | 3000000 | 3181381 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.550%, 02/06/53 | 2000000 | 1847752 |
|  |  | 10637082 |
| REAL ESTATE — 0.7% |  |  |
| &nbsp;&nbsp;&nbsp;Boston Properties |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.750%, 10/01/26 | 1000000 | 978230 |
| &nbsp;&nbsp;&nbsp;VICI Properties |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.125%, 05/15/32 | 4000000 | 3990429 |
|  |  | 4968659 |

---

 **10**

---

| | |
|:---|:---|
| **THE ADVISORS' INNER CIRCLE FUND** | **CIBC ATLAS** |
|  | **INCOME OPPORTUNITIES FUND** |
|  | **JULY 31, 2025 (Unaudited)** |

---

---

| | | |
|:---|:---|:---|
| CORPORATE OBLIGATIONS (continued) | Face Amount | Value |
| UTILITIES — 0.5% |  |  |
| &nbsp;&nbsp;&nbsp;Duke Energy |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.450%, H15T5Y + 2.588%, 09/01/54(B) | $3000000 | $3088858 |
| &nbsp;&nbsp;&nbsp;TOTAL CORPORATE OBLIGATIONS |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(Cost $119,545,291) |  | 113590656 |
| U.S. TREASURY OBLIGATIONS — 11.9% |  |  |
| &nbsp;&nbsp;&nbsp;U.S. Treasury Bonds |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.375%, 05/15/41 | 15000000 | 14392969 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.125%, 08/15/53 | 21500000 | 18924199 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.875%, 05/15/43 | 18500000 | 16338535 |
|  |  | 49655703 |
| &nbsp;&nbsp;&nbsp;U.S. Treasury Inflation Indexed Notes |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.500%, 01/15/28 | 13032400 | 12785698 |
| &nbsp;&nbsp;&nbsp;U.S. Treasury Notes |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.000%, 07/31/29 | 16000000 | 16046250 |
| &nbsp;&nbsp;&nbsp;TOTAL U.S. TREASURY OBLIGATIONS |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(Cost $79,320,721) |  | 78487651 |
| MORTGAGE-BACKED SECURITIES — 6.3% |  |  |
| AGENCY MORTGAGE-BACKED OBLIGATIONS — 6.3% |  |  |
| &nbsp;&nbsp;&nbsp;FHLMC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.000%, 09/01/53 | 10102298 | 10252562 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 03/01/38 | 6409459 | 6434945 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.500%, 06/01/31 | 4453242 | 4165402 |
| &nbsp;&nbsp;&nbsp;FNMA |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.000%, 01/01/53 | 3938119 | 4004348 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.000%, 07/01/53 | 6243525 | 6425256 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.500%, 07/01/52 | 10634716 | 10100799 |
| &nbsp;&nbsp;&nbsp;TOTAL MORTGAGE-BACKED SECURITIES |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(Cost $41,566,227) |  | 41383312 |

---

 **11**

---

| | |
|:---|:---|
| **THE ADVISORS' INNER CIRCLE FUND** | **CIBC ATLAS** |
|  | **INCOME OPPORTUNITIES FUND** |
|  | **JULY 31, 2025 (Unaudited)** |

---

---

| | | |
|:---|:---|:---|
| EXCHANGE-TRADED FUND — 2.1% | Shares | Value |
| DOMESTIC FIXED INCOME — 2.1% |  |  |
| &nbsp;&nbsp;&nbsp;Invesco Senior Loan ETF | 657000 | $13751010 |
| &nbsp;&nbsp;&nbsp;TOTAL EXCHANGE-TRADED FUND |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(Cost $13,803,663) |  | 13751010 |
| PREFERRED STOCK — 0.3% |  |  |
| FINANCIALS — 0.3% |  |  |
| &nbsp;&nbsp;&nbsp;Wells Fargo, 7.500% | 1700 | 2013718 |
| &nbsp;&nbsp;&nbsp;TOTAL PREFERRED STOCK |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(Cost $2,066,538) |  | 2013718 |
| CASH EQUIVALENT — 3.8% |  |  |
| &nbsp;&nbsp;&nbsp;First American Government Obligations Fund, Cl X, 4.230% (D) | 25411488 | 25411488 |
| &nbsp;&nbsp;&nbsp;TOTAL CASH EQUIVALENT |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(Cost $25,411,488) |  | 25411488 |
| TOTAL INVESTMENTS — 99.1% |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(Cost $482,714,867) |  | $654545455 |

---

---

| | |
|:---|:---|
| WRITTEN OPTIONS — (0.0%) | Value |
| &nbsp;&nbsp;&nbsp;TOTAL WRITTEN OPTIONS — 0.0% |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(Premiums Received $277,345) | $(184838) |

---

A list of the exchange-traded option contracts held by the Fund at July 31, 2025, is as follows:

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | | | Exercise | Expiration | |
| Description | Contracts | Notional Amount | Price | Date | Value |
| WRITTEN OPTIONS — (0.0%) |  |  |  |  |  |
| Call Options |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Amazon.com\* | (256) | $(5993216) | $250 | 08/15/25 | $(79360) |
| &nbsp;&nbsp;&nbsp;EQT\* | (920) | (4945000) | 60 | 08/15/25 | (11960) |
| &nbsp;&nbsp;&nbsp;Google\* | (103) | (1976570) | 200 | 08/15/25 | (18643) |
| &nbsp;&nbsp;&nbsp;Meta Platforms\* | (26) | (2010944) | 800 | 08/15/25 | (19032) |
| &nbsp;&nbsp;&nbsp;QUALCOMM\* | (320) | (4696320) | 175 | 08/15/25 | (1600) |
| &nbsp;&nbsp;&nbsp;Workday\* | (147) | (3371886) | 260 | 09/19/25 | (54243) |
| &nbsp;&nbsp;&nbsp;Total Written Options |  | $(22993936) |  |  | $(184838) |

---

*Percentages are based on Net Assets of $660,473,030.*

*\** *Non-income producing security.*

&nbsp;&nbsp;&nbsp;&nbsp;*‡* *Real Estate Investment Trust* 

 **12**

---

| | |
|:---|:---|
| **THE ADVISORS' INNER CIRCLE FUND** | **CIBC ATLAS** |
|  | **INCOME OPPORTUNITIES FUND** |
|  | **JULY 31, 2025 (Unaudited)** |

---

&nbsp;&nbsp;&nbsp;&nbsp;*(A)* *Securities sold within terms of a private placement memorandum, exempt from registration under Section 144A of the Securities Act of 1933, as amended, and may be sold only to dealers in that program or other "accredited investors." The total value of such securities as of July 31, 2025 was $15,538,359 which represents 2.4% of Net Assets.* 

&nbsp;&nbsp;&nbsp;&nbsp;*(B)* *Variable or floating rate security. The rate shown is the effective interest rate as of period end. The rates for certain securities are not based on published reference rates and spreads and are either determined by the issuer or agent based on current market conditions; by using a formula based on the rates of underlying loans; or by adjusting periodically based on prevailing interest rates.* 

&nbsp;&nbsp;&nbsp;&nbsp;*(C)* *Perpetual security with no stated maturity date.* 

&nbsp;&nbsp;&nbsp;&nbsp;*(D)* *The rate reported is the 7-day effective yield as of July 31, 2025.* 

ADR — American Depositary Receipt

Cl — Class

DAC — Designated Activity Company

ETF — Exchange-Traded Fund

FHLMC — Federal Home Loan Mortgage Corporation

FNMA — Federal National Mortgage Association

H15T5Y — U.S. Treasury Yield Curve Rate Treasury Note Constant Maturity 5 Year

MTN — Medium Term Note

PLC — Public Limited Company

SOFRRATE— Secured Overnight Financing Rate

TSFR3M — Term Secured Overnight Financing Rate 3 Month

*ATF-QH-003-2300* 

 **13**

---

| | |
|:---|:---|
| **THE ADVISORS' INNER CIRCLE FUND** | **CIBC ATLAS** |
|  | **ALL CAP GROWTH FUND** |
|  | **JULY 31, 2025 (Unaudited)** |

---

---

| | | |
|:---|:---|:---|
| SCHEDULE OF INVESTMENTS |  |  |
| COMMON STOCK\*\* — 95.8% | Shares | Value |
| COMMUNICATION SERVICES — 14.2% |  |  |
| &nbsp;&nbsp;&nbsp;Live Nation Entertainment \* | 22021 | $3252502 |
| &nbsp;&nbsp;&nbsp;Meta Platforms, Cl A | 27941 | 21610687 |
| &nbsp;&nbsp;&nbsp;Netflix \* | 12902 | 14958579 |
| &nbsp;&nbsp;&nbsp;Sea ADR \* | 22347 | 3500657 |
| &nbsp;&nbsp;&nbsp;Spotify Technology \* | 9042 | 5665175 |
|  |  | 48987600 |
| CONSUMER DISCRETIONARY — 7.4% |  |  |
| &nbsp;&nbsp;&nbsp;Amazon.com \* | 82917 | 19411699 |
| &nbsp;&nbsp;&nbsp;MercadoLibre \* | 2573 | 6108019 |
|  |  | 25519718 |
| FINANCIALS — 13.3% |  |  |
| &nbsp;&nbsp;&nbsp;Ares Management, Cl A | 17246 | 3199650 |
| &nbsp;&nbsp;&nbsp;Brown & Brown | 37345 | 3412213 |
| &nbsp;&nbsp;&nbsp;Goosehead Insurance, Cl A | 31193 | 2835756 |
| &nbsp;&nbsp;&nbsp;Kinsale Capital Group | 6890 | 3036354 |
| &nbsp;&nbsp;&nbsp;Mastercard, Cl A | 18642 | 10560134 |
| &nbsp;&nbsp;&nbsp;S&P Global | 20942 | 11541136 |
| &nbsp;&nbsp;&nbsp;Shift4 Payments, Cl A \* | 70120 | 7222360 |
| &nbsp;&nbsp;&nbsp;StepStone Group, Cl A | 65771 | 3904166 |
|  |  | 45711769 |
| HEALTH CARE — 10.1% |  |  |
| &nbsp;&nbsp;&nbsp;Boston Scientific \* | 86452 | 9070544 |
| &nbsp;&nbsp;&nbsp;Eli Lilly | 10122 | 7490988 |
| &nbsp;&nbsp;&nbsp;HealthEquity \* | 62257 | 6038929 |
| &nbsp;&nbsp;&nbsp;Intuitive Surgical \* | 24963 | 12009450 |
|  |  | 34609911 |
| INDUSTRIALS — 26.6% |  |  |
| &nbsp;&nbsp;&nbsp;Axon Enterprise \* | 7514 | 5676752 |
| &nbsp;&nbsp;&nbsp;Canadian Pacific Kansas City | 28468 | 2093821 |
| &nbsp;&nbsp;&nbsp;Cintas | 36872 | 8205864 |
| &nbsp;&nbsp;&nbsp;GE Vernova | 22717 | 14999808 |
| &nbsp;&nbsp;&nbsp;General Electric | 58456 | 15846252 |
| &nbsp;&nbsp;&nbsp;Howmet Aerospace | 102932 | 18504086 |
| &nbsp;&nbsp;&nbsp;Quanta Services | 32610 | 13243899 |
| &nbsp;&nbsp;&nbsp;TransDigm Group | 8114 | 13051044 |
|  |  | 91621526 |

---

 **14**

---

| | |
|:---|:---|
| **THE ADVISORS' INNER CIRCLE FUND** | **CIBC ATLAS** |
|  | **ALL CAP GROWTH FUND** |
|  | **JULY 31, 2025 (Unaudited)** |

---

---

| | | |
|:---|:---|:---|
| COMMON STOCK\*\* (continued) | Shares | Value |
| INFORMATION TECHNOLOGY — 24.2% |  |  |
| &nbsp;&nbsp;&nbsp;Amphenol, Cl A | 143507 | $15284931 |
| &nbsp;&nbsp;&nbsp;Broadcom | 28272 | 8303486 |
| &nbsp;&nbsp;&nbsp;Cloudflare, Cl A \* | 19007 | 3947374 |
| &nbsp;&nbsp;&nbsp;CyberArk Software \* | 8660 | 3563330 |
| &nbsp;&nbsp;&nbsp;Guidewire Software \* | 13967 | 3159615 |
| &nbsp;&nbsp;&nbsp;Microsoft | 26942 | 14373557 |
| &nbsp;&nbsp;&nbsp;Monday.com \* | 14559 | 3818680 |
| &nbsp;&nbsp;&nbsp;NVIDIA | 29239 | 5200741 |
| &nbsp;&nbsp;&nbsp;Palo Alto Networks \* | 46777 | 8120487 |
| &nbsp;&nbsp;&nbsp;ServiceNow \* | 6961 | 6565058 |
| &nbsp;&nbsp;&nbsp;Shopify, Cl A \* | 45598 | 5572532 |
| &nbsp;&nbsp;&nbsp;Snowflake, Cl A \* | 23972 | 5357742 |
|  |  | 83267533 |
| &nbsp;&nbsp;&nbsp;TOTAL COMMON STOCK |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(Cost $194,419,751) |  | 329718057 |
| CASH EQUIVALENT — 3.5% |  |  |
| &nbsp;&nbsp;&nbsp;First American Government Obligations Fund, Cl X, 4.230% (A) | 12065777 | 12065777 |
| &nbsp;&nbsp;&nbsp;TOTAL CASH EQUIVALENT |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(Cost $12,065,777) |  | 12065777 |
| TOTAL INVESTMENTS — 99.3% |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(Cost $206,485,528) |  | $341783834 |

---

*Percentages are based on Net Assets of $344,365,844.*

\* *Non-income producing security.* 

\*\* *More narrow industries are utilized for compliance purposes, whereas broad sectors are utilized for reporting periods.* 

&nbsp;&nbsp;&nbsp;&nbsp;*(A)* *The rate reported is the 7-day effective yield as of July 31, 2025.* 

ADR — American Depositary Receipt

Cl — Class

*ATF-QH-005-1400* 

 **15**

---

| | |
|:---|:---|
| **THE ADVISORS' INNER CIRCLE FUND** | **CIBC ATLAS** |
|  | **EQUITY INCOME FUND** |
|  | **JULY 31, 2025 (Unaudited)** |

---

---

| | | |
|:---|:---|:---|
| SCHEDULE OF INVESTMENTS |  |  |
| COMMON STOCK — 98.8% | Shares | Value |
| COMMUNICATION SERVICES — 0.9% |  |  |
| &nbsp;&nbsp;&nbsp;Comcast, Cl A | 98180 | $3262521 |
| CONSUMER DISCRETIONARY — 3.3% |  |  |
| &nbsp;&nbsp;&nbsp;Dick's Sporting Goods | 31033 | 6563790 |
| &nbsp;&nbsp;&nbsp;TJX | 44201 | 5504350 |
|  |  | 12068140 |
| ENERGY — 7.7% |  |  |
| &nbsp;&nbsp;&nbsp;Enterprise Products Partners | 543549 | 16844584 |
| &nbsp;&nbsp;&nbsp;ONEOK | 76567 | 6286916 |
| &nbsp;&nbsp;&nbsp;Targa Resources | 30225 | 5029742 |
|  |  | 28161242 |
| FINANCIALS — 23.9% |  |  |
| &nbsp;&nbsp;&nbsp;Ameriprise Financial | 5209 | 2699252 |
| &nbsp;&nbsp;&nbsp;Ares Management, Cl A | 21023 | 3900397 |
| &nbsp;&nbsp;&nbsp;Arthur J Gallagher | 11427 | 3282406 |
| &nbsp;&nbsp;&nbsp;Blackstone, Cl A | 65878 | 11394259 |
| &nbsp;&nbsp;&nbsp;Blue Owl Capital, Cl A | 545500 | 10555425 |
| &nbsp;&nbsp;&nbsp;Brookfield | 157953 | 10590749 |
| &nbsp;&nbsp;&nbsp;Brookfield Asset Management, Cl A | 41092 | 2534144 |
| &nbsp;&nbsp;&nbsp;Charles Schwab | 117520 | 11485229 |
| &nbsp;&nbsp;&nbsp;CME Group, Cl A | 41834 | 11641565 |
| &nbsp;&nbsp;&nbsp;Goldman Sachs Group | 6984 | 5053553 |
| &nbsp;&nbsp;&nbsp;JPMorgan Chase | 48197 | 14277879 |
|  |  | 87414858 |
| HEALTH CARE — 17.7% |  |  |
| &nbsp;&nbsp;&nbsp;Abbott Laboratories | 121860 | 15377513 |
| &nbsp;&nbsp;&nbsp;AbbVie | 50701 | 9583503 |
| &nbsp;&nbsp;&nbsp;AstraZeneca PLC ADR | 134733 | 9847635 |
| &nbsp;&nbsp;&nbsp;Cardinal Health | 35793 | 5555789 |
| &nbsp;&nbsp;&nbsp;Elevance Health | 21213 | 6004976 |
| &nbsp;&nbsp;&nbsp;Eli Lilly | 18107 | 13400448 |
| &nbsp;&nbsp;&nbsp;Stryker | 12305 | 4832543 |
|  |  | 64602407 |
| INDUSTRIALS — 15.8% |  |  |
| &nbsp;&nbsp;&nbsp;Broadridge Financial Solutions | 34068 | 8432171 |
| &nbsp;&nbsp;&nbsp;L3Harris Technologies | 38761 | 10652298 |
| &nbsp;&nbsp;&nbsp;Parker-Hannifin | 15135 | 11077306 |

---

 **16**

---

| | |
|:---|:---|
| **THE ADVISORS' INNER CIRCLE FUND** | **CIBC ATLAS** |
|  | **EQUITY INCOME FUND** |
|  | **JULY 31, 2025 (Unaudited)** |

---

---

| | | |
|:---|:---|:---|
| COMMON STOCK (continued) | Shares | Value |
| INDUSTRIALS (continued) |  |  |
| &nbsp;&nbsp;&nbsp;Rollins | 71761 | $4109752 |
| &nbsp;&nbsp;&nbsp;RTX | 34259 | 5398191 |
| &nbsp;&nbsp;&nbsp;TransDigm Group | 6425 | 10334355 |
| &nbsp;&nbsp;&nbsp;United Parcel Service, Cl B | 35979 | 3099951 |
| &nbsp;&nbsp;&nbsp;Waste Management | 19760 | 4528202 |
|  |  | 57632226 |
| INFORMATION TECHNOLOGY — 16.5% |  |  |
| &nbsp;&nbsp;&nbsp;Accenture PLC, Cl A | 11976 | 3198790 |
| &nbsp;&nbsp;&nbsp;Apple | 45675 | 9480760 |
| &nbsp;&nbsp;&nbsp;Broadcom | 18897 | 5550049 |
| &nbsp;&nbsp;&nbsp;International Business Machines | 31107 | 7874737 |
| &nbsp;&nbsp;&nbsp;Microchip Technology | 108928 | 7362443 |
| &nbsp;&nbsp;&nbsp;Microsoft | 45031 | 24024038 |
| &nbsp;&nbsp;&nbsp;Texas Instruments | 14242 | 2578657 |
|  |  | 60069474 |
| REAL ESTATE — 8.3% |  |  |
| &nbsp;&nbsp;&nbsp;American Tower, Cl A ‡ | 49133 | 10238826 |
| &nbsp;&nbsp;&nbsp;Equinix ‡ | 6264 | 4918305 |
| &nbsp;&nbsp;&nbsp;Iron Mountain ‡ | 56823 | 5532287 |
| &nbsp;&nbsp;&nbsp;Prologis ‡ | 43577 | 4653152 |
| &nbsp;&nbsp;&nbsp;VICI Properties, Cl A ‡ | 152249 | 4963318 |
|  |  | 30305888 |
| UTILITIES — 4.7% |  |  |
| &nbsp;&nbsp;&nbsp;Brookfield Infrastructure Partners | 109577 | 3418803 |
| &nbsp;&nbsp;&nbsp;Brookfield Renewable Partners | 224048 | 6172522 |
| &nbsp;&nbsp;&nbsp;NextEra Energy | 108589 | 7716334 |
|  |  | 17307659 |
| &nbsp;&nbsp;&nbsp;TOTAL COMMON STOCK |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(Cost $224,670,804) |  | 360824415 |
| CASH EQUIVALENT — 1.1% |  |  |
| &nbsp;&nbsp;&nbsp;First American Government Obligations Fund, Cl X, 4.230% (A) | 4174532 | 4174532 |
| &nbsp;&nbsp;&nbsp;TOTAL CASH EQUIVALENT |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(Cost $4,174,532) |  | 4174532 |
| TOTAL INVESTMENTS — 99.9% |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(Cost $228,845,336) |  | $364998947 |

---

 **17**

---

| | |
|:---|:---|
| **THE ADVISORS' INNER CIRCLE FUND** | **CIBC ATLAS** |
|  | **EQUITY INCOME FUND** |
|  | **JULY 31, 2025 (Unaudited)** |

---

*Percentages are based on Net Assets of $365,350,681.*

&nbsp;&nbsp;&nbsp;&nbsp;*‡* *Real Estate Investment Trust* 

&nbsp;&nbsp;&nbsp;&nbsp;*(A)* *The rate reported is the 7-day effective yield as of July 31, 2025.* 

ADR — American Depositary Receipt

Cl — Class

PLC — Public Limited Company

*ATF-QH-006-1400* 

 **18**

---

| | |
|:---|:---|
| **THE ADVISORS' INNER CIRCLE FUND** | **CIBC ATLAS** |
|  | **INTERNATIONAL GROWTH FUND** |
|  | **JULY 31, 2025 (Unaudited)** |

---

---

| | | |
|:---|:---|:---|
| SCHEDULE OF INVESTMENTS |  |  |
| COMMON STOCK — 96.8% | Shares | Value |
| Australia — 1.8% |  |  |
| MATERIALS — 1.8% |  |  |
| &nbsp;&nbsp;&nbsp;BHP Group | 537870 | $13584008 |
| Brazil — 2.0% |  |  |
| CONSUMER DISCRETIONARY — 2.0% |  |  |
| &nbsp;&nbsp;&nbsp;MercadoLibre \* | 6201 | 14720492 |
| Canada — 3.3% |  |  |
| FINANCIALS — 2.3% |  |  |
| &nbsp;&nbsp;&nbsp;Brookfield | 258151 | 17309025 |
| INDUSTRIALS — 1.0% |  |  |
| &nbsp;&nbsp;&nbsp;Canadian National Railway | 76381 | 7137804 |
|  |  | 24446829 |
| China — 7.6% |  |  |
| COMMUNICATION SERVICES — 3.1% |  |  |
| &nbsp;&nbsp;&nbsp;Tencent Holdings | 332000 | 23244064 |
| CONSUMER DISCRETIONARY — 4.5% |  |  |
| &nbsp;&nbsp;&nbsp;Alibaba Group Holding | 698000 | 10494275 |
| &nbsp;&nbsp;&nbsp;Alibaba Group Holding ADR | 49946 | 6024986 |
| &nbsp;&nbsp;&nbsp;Trip.com Group | 270000 | 16762264 |
|  |  | 33281525 |
|  |  | 56525589 |
| Denmark — 0.7% |  |  |
| HEALTH CARE — 0.7% |  |  |
| &nbsp;&nbsp;&nbsp;Novo Nordisk, Cl B | 107372 | 4993657 |
| France — 4.8% |  |  |
| CONSUMER DISCRETIONARY — 1.2% |  |  |
| &nbsp;&nbsp;&nbsp;Hermes International SCA | 3753 | 9177930 |
| INDUSTRIALS — 1.9% |  |  |
| &nbsp;&nbsp;&nbsp;Airbus | 70393 | 14152885 |

---

 **19**

---

| | |
|:---|:---|
| **THE ADVISORS' INNER CIRCLE FUND** | **CIBC ATLAS** |
|  | **INTERNATIONAL GROWTH FUND** |
|  | **JULY 31, 2025 (Unaudited)** |

---

---

| | | |
|:---|:---|:---|
| COMMON STOCK (continued) | Shares | Value |
| France (continued) |  |  |
| MATERIALS — 1.7% |  |  |
| &nbsp;&nbsp;&nbsp;Air Liquide | 64295 | $12649187 |
|  |  | 35980002 |
| Germany — 7.9% |  |  |
| INDUSTRIALS — 2.6% |  |  |
| &nbsp;&nbsp;&nbsp;Siemens | 77632 | 19773145 |
| INFORMATION TECHNOLOGY — 1.4% |  |  |
| &nbsp;&nbsp;&nbsp;SAP | 36279 | 10374198 |
| MATERIALS — 3.9% |  |  |
| &nbsp;&nbsp;&nbsp;Heidelberg Materials | 87122 | 20098602 |
| &nbsp;&nbsp;&nbsp;Symrise, Cl A | 98545 | 8932845 |
|  |  | 29031447 |
|  |  | 59178790 |
| Hong Kong — 2.3% |  |  |
| FINANCIALS — 2.3% |  |  |
| &nbsp;&nbsp;&nbsp;AIA Group | 1875000 | 17482823 |
| India — 3.2% |  |  |
| FINANCIALS — 3.2% |  |  |
| &nbsp;&nbsp;&nbsp;HDFC Bank ADR | 315690 | 24235521 |
| Ireland — 2.4% |  |  |
| CONSUMER STAPLES — 1.2% |  |  |
| &nbsp;&nbsp;&nbsp;Kerry Group PLC, Cl A | 98362 | 9085712 |
| HEALTH CARE — 1.2% |  |  |
| &nbsp;&nbsp;&nbsp;ICON PLC \* | 50556 | 8553570 |
|  |  | 17639282 |
| Israel — 2.1% |  |  |
| INFORMATION TECHNOLOGY — 2.1% |  |  |
| &nbsp;&nbsp;&nbsp;Check Point Software Technologies \* | 82579 | 15376210 |

---

 **20**

---

| | |
|:---|:---|
| **THE ADVISORS' INNER CIRCLE FUND** | **CIBC ATLAS** |
|  | **INTERNATIONAL GROWTH FUND** |
|  | **JULY 31, 2025 (Unaudited)** |

---

---

| | | |
|:---|:---|:---|
| COMMON STOCK (continued) | Shares | Value |
| Italy — 1.8% |  |  |
| CONSUMER DISCRETIONARY — 1.8% |  |  |
| &nbsp;&nbsp;&nbsp;Ferrari | 30025 | $13166203 |
| Japan — 13.3% |  |  |
| CONSUMER DISCRETIONARY — 3.8% |  |  |
| &nbsp;&nbsp;&nbsp;Sony Group | 607000 | 14600363 |
| &nbsp;&nbsp;&nbsp;Suzuki Motor | 1209000 | 13283977 |
|  |  | 27884340 |
| FINANCIALS — 4.0% |  |  |
| &nbsp;&nbsp;&nbsp;Mizuho Financial Group | 548000 | 16073751 |
| &nbsp;&nbsp;&nbsp;Tokio Marine Holdings | 343000 | 13772453 |
|  |  | 29846204 |
| INDUSTRIALS — 5.5% |  |  |
| &nbsp;&nbsp;&nbsp;FANUC | 435000 | 12109078 |
| &nbsp;&nbsp;&nbsp;Kawasaki Heavy Industries | 400000 | 29213222 |
|  |  | 41322300 |
|  |  | 99052844 |
| Mexico — 1.3% |  |  |
| CONSUMER STAPLES — 1.3% |  |  |
| &nbsp;&nbsp;&nbsp;Fomento Economico Mexicano ADR | 104529 | 9455693 |
| Netherlands — 1.8% |  |  |
| INFORMATION TECHNOLOGY — 1.8% |  |  |
| &nbsp;&nbsp;&nbsp;ASML Holding | 19316 | 13387420 |
| Norway — 1.0% |  |  |
| ENERGY — 1.0% |  |  |
| &nbsp;&nbsp;&nbsp;Equinor | 302087 | 7759884 |
| Singapore — 2.9% |  |  |
| FINANCIALS — 2.9% |  |  |
| &nbsp;&nbsp;&nbsp;DBS Group Holdings | 588240 | 21591048 |

---

 **21**

---

| | |
|:---|:---|
| **THE ADVISORS' INNER CIRCLE FUND** | **CIBC ATLAS** |
|  | **INTERNATIONAL GROWTH FUND** |
|  | **JULY 31, 2025 (Unaudited)** |

---

---

| | | |
|:---|:---|:---|
| COMMON STOCK (continued) | Shares | Value |
| Spain — 5.3% |  |  |
| CONSUMER DISCRETIONARY — 1.8% |  |  |
| &nbsp;&nbsp;&nbsp;Amadeus IT Group | 168916 | $13562924 |
| FINANCIALS — 3.5% |  |  |
| &nbsp;&nbsp;&nbsp;Banco Santander | 2996416 | 25741603 |
|  |  | 39304527 |
| Sweden — 2.9% |  |  |
| INDUSTRIALS — 2.9% |  |  |
| &nbsp;&nbsp;&nbsp;Assa Abloy, Cl B | 411162 | 13605454 |
| &nbsp;&nbsp;&nbsp;Atlas Copco, Cl A | 524967 | 7994401 |
|  |  | 21599855 |
| Switzerland — 5.6% |  |  |
| FINANCIALS — 1.7% |  |  |
| &nbsp;&nbsp;&nbsp;Chubb | 48119 | 12801579 |
| HEALTH CARE — 3.9% |  |  |
| &nbsp;&nbsp;&nbsp;Alcon | 154324 | 13529273 |
| &nbsp;&nbsp;&nbsp;Novartis | 135271 | 15405619 |
|  |  | 28934892 |
|  |  | 41736471 |
| Taiwan — 3.4% |  |  |
| INFORMATION TECHNOLOGY — 3.4% |  |  |
| &nbsp;&nbsp;&nbsp;Taiwan Semiconductor Manufacturing ADR | 104857 | 25335548 |
| United Kingdom — 19.4% |  |  |
| CONSUMER DISCRETIONARY — 4.0% |  |  |
| &nbsp;&nbsp;&nbsp;Compass Group PLC | 440498 | 15478927 |
| &nbsp;&nbsp;&nbsp;InterContinental Hotels Group PLC | 122160 | 14053364 |
|  |  | 29532291 |
| CONSUMER STAPLES — 1.4% |  |  |
| &nbsp;&nbsp;&nbsp;Diageo PLC | 434858 | 10539937 |
| ENERGY — 2.7% |  |  |
| &nbsp;&nbsp;&nbsp;Shell PLC | 569617 | 20468198 |

---

 **22**

---

| | |
|:---|:---|
| **THE ADVISORS' INNER CIRCLE FUND** | **CIBC ATLAS** |
|  | **INTERNATIONAL GROWTH FUND** |
|  | **JULY 31, 2025 (Unaudited)** |

---

---

| | | |
|:---|:---|:---|
| COMMON STOCK (continued) | Shares | Value |
| United Kingdom (continued) |  |  |
| FINANCIALS — 5.1% |  |  |
| &nbsp;&nbsp;&nbsp;Lloyds Banking Group PLC | 18962327 | $19444950 |
| &nbsp;&nbsp;&nbsp;London Stock Exchange Group PLC | 154802 | 18869677 |
|  |  | 38314627 |
| HEALTH CARE — 2.1% |  |  |
| &nbsp;&nbsp;&nbsp;AstraZeneca PLC | 105185 | 15345674 |
| INDUSTRIALS — 4.1% |  |  |
| &nbsp;&nbsp;&nbsp;BAE Systems PLC | 836213 | 19952655 |
| &nbsp;&nbsp;&nbsp;Experian PLC | 205176 | 10810919 |
|  |  | 30763574 |
|  |  | 144964301 |
| &nbsp;&nbsp;&nbsp;TOTAL COMMON STOCK |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;(Cost $532,111,344) |  | 721516997 |
| CASH EQUIVALENT — 3.0% |  |  |
| &nbsp;&nbsp;&nbsp;First American Government Obligations Fund, Cl X, 4.230% (A) | 22676852 | 22676852 |
| &nbsp;&nbsp;&nbsp;TOTAL CASH EQUIVALENT |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;(Cost $22,676,852) |  | 22676852 |
| TOTAL INVESTMENTS — 99.8% |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;(Cost $554,788,196) |  | $744193849 |

---

*Percentages are based on Net Assets of $745,612,688.*

*\** *Non-income producing security.*

&nbsp;&nbsp;&nbsp;&nbsp;*(A)* *The rate reported is the 7-day effective yield as of July 31, 2025.* 

ADR — American Depositary Receipt

Cl — Class

PLC — Public Limited Company

*ATF-QH-007-1300*

**23**

## Form NPORT-P: Monthly Portfolio Investments Report

### NPORT-P: Part A: General Information

**Item A.1. Information about the Registrant.**

- **a. Name of Registrant:** ADVISORS' INNER CIRCLE FUND

- **b. Investment Company Act file number:** 811-06400

- **c. CIK number of Registrant:** 0000878719

- **d. LEI of Registrant:** 549300LRWL70Z8CGWD77

- **e. Address and telephone number of Registrant.**

  - **Street Address 1:** ONE FREEDOM VALLEY DRIVE

  - **City:** OAKS

  - **State:** PA

  - **Foreign country:** US

  - **Zip / Postal Code:** 19456

  - **Telephone number:** 8774463863

**Item A.2. Information about the Series.**

- **a. Name of Series:** CIBC ATLAS ALL CAP GROWTH FUND

- **b. EDGAR series identifier (if any):** S000059860

- **c. LEI of Series:** 549300BMGU1LSBHD8235

**Item A.3. Reporting period.**

- **a. Date of fiscal year-end:** 2025-10-31

- **b. Date as of which information is reported:** 2025-07-31

**Item A.4. Final filing**

Does the Fund anticipate that this will be its final filing on Form N-PORT? **No**

### Fund Information

**Total Assets:** $344616619.77

**Total Liabilities:** $283501.45

**Net Assets:** $344333118.32

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000195841 | -0.77%               | 5.65%                | 8.08%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $9593263.25              | $-12057064.12                              |
| Month 2  | $491893.01               | $18031482.38                               |
| Month 3  | $-1025827.83             | $25323173.54                               |

### Schedule of Portfolio Investments

| Name                                   | Title                                                      | Identifiers                                   | Payoff Profile   | Asset Category   | Issuer Category   | Country   |   Balance | Units   | Value (USD)   | % of Net Assets   | Maturity Date   | Coupon Type   | Annualized Rate (%)   | Restricted?   |   Fair Value Level | Lending Status   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| SEA LIMITED                            | SEA LTD-ADR DEPOSITARY RECEIPT                             | CUSIP: 81141R100<br>LEI: 529900OM6JLLW44YKI15 | Long             | EC               |  | US        |     22347 | NS      | $3500657.55   | 1.02%             |  |  |  | No            |                  1 | On Loan: No      |
| GOOSEHEAD INSURANCE, INC.              | GOOSEHEAD INSURANCE INC -A COMMON STOCK                    | CUSIP: 38267D109<br>LEI: 549300WH5MBIWHJ9XY95 | Long             | EC               |  | US        |     31193 | NS      | $2835755.63   | 0.82%             |  |  |  | No            |                  1 | On Loan: No      |
| monday.com Ltd                         | MONDAY.COM LTD COMMON STOCK                                | CUSIP: M7S64H106<br>LEI: 984500MDAFVD86E3B328 | Long             | EC               |  | US        |     14559 | NS      | $3818680.11   | 1.11%             |  |  |  | No            |                  1 | On Loan: No      |
| SNOWFLAKE INC.                         | SNOWFLAKE INC COMMON STOCK                                 | CUSIP: 833445109<br>LEI: 254900CJNSY1K7T53Z16 | Long             | EC               |  | US        |     23972 | NS      | $5357742.00   | 1.56%             |  |  |  | No            |                  1 | On Loan: No      |
| PALO ALTO NETWORKS, INC.               | PALO ALTO NETWORKS INC COMMON STOCK                        | CUSIP: 697435105<br>LEI: 549300QXR2YVZV231H43 | Long             | EC               |  | US        |     46777 | NS      | $8120487.20   | 2.36%             |  |  |  | No            |                  1 | On Loan: No      |
| GUIDEWIRE SOFTWARE, INC.               | GUIDEWIRE SOFTWARE INC COMMON STOCK                        | CUSIP: 40171V100<br>LEI: 549300WXSG0J8IXZCK32 | Long             | EC               |  | US        |     13967 | NS      | $3159614.74   | 0.92%             |  |  |  | No            |                  1 | On Loan: No      |
| GENERAL ELECTRIC COMPANY               | GE AEROSPACE COMMON STOCK                                  | CUSIP: 369604301<br>LEI: 3C7474T6CDKPR9K6YT90 | Long             | EC               |  | US        |     58456 | NS      | $15846252.48  | 4.60%             |  |  |  | No            |                  1 | On Loan: No      |
| INTUITIVE SURGICAL, INC.               | INTUITIVE SURGICAL INC COMMON STOCK                        | CUSIP: 46120E602<br>LEI: 54930052SRG011710797 | Long             | EC               |  | US        |     24963 | NS      | $12009449.67  | 3.49%             |  |  |  | No            |                  1 | On Loan: No      |
| CINTAS CORPORATION                     | CINTAS CORP COMMON STOCK                                   | CUSIP: 172908105<br>LEI: N/A                  | Long             | EC               |  | US        |     36872 | NS      | $8205863.60   | 2.38%             |  |  |  | No            |                  1 | On Loan: No      |
| HEALTHEQUITY, INC.                     | HEALTHEQUITY INC COMMON STOCK                              | CUSIP: 42226A107<br>LEI: 529900LRJU1RAFQHM467 | Long             | EC               |  | US        |     62257 | NS      | $6038929.00   | 1.75%             |  |  |  | No            |                  1 | On Loan: No      |
| MASTERCARD INCORPORATED.               | MASTERCARD INC - A COMMON STOCK                            | CUSIP: 57636Q104<br>LEI: AR5L2ODV9HN37376R084 | Long             | EC               |  | US        |     18642 | NS      | $10560133.74  | 3.07%             |  |  |  | No            |                  1 | On Loan: No      |
| AMAZON.COM, INC.                       | AMAZON.COM INC COMMON STOCK                                | CUSIP: 023135106<br>LEI: ZXTILKJKG63JELOEG630 | Long             | EC               |  | US        |     82917 | NS      | $19411698.87  | 5.64%             |  |  |  | No            |                  1 | On Loan: No      |
| MercadoLibre, Inc.                     | MERCADOLIBRE INC COMMON STOCK                              | CUSIP: 58733R102<br>LEI: 549300DKPDN9M5S8GB14 | Long             | EC               |  | US        |      2573 | NS      | $6108018.97   | 1.77%             |  |  |  | No            |                  1 | On Loan: No      |
| BROADCOM INC.                          | BROADCOM INC COMMON STOCK                                  | CUSIP: 11135F101<br>LEI: 549300WV6GIDOZJTV909 | Long             | EC               |  | US        |     28272 | NS      | $8303486.40   | 2.41%             |  |  |  | No            |                  1 | On Loan: No      |
| GE VERNOVA INC.                        | GE VERNOVA INC COMMON STOCK                                | CUSIP: 36828A101<br>LEI: 254900DP080RU6OK2553 | Long             | EC               |  | US        |     22717 | NS      | $14999807.93  | 4.36%             |  |  |  | No            |                  1 | On Loan: No      |
| StepStone Group Inc                    | STEPSTONE GROUP INC-CLASS A COMMON STOCK                   | CUSIP: 85914M107<br>LEI: N/A                  | Long             | EC               |  | US        |     65771 | NS      | $3904166.56   | 1.13%             |  |  |  | No            |                  1 | On Loan: No      |
| BROWN & BROWN, INC.                    | BROWN & BROWN INC COMMON STOCK                             | CUSIP: 115236101<br>LEI: 549300PC8KTJ71XKFY89 | Long             | EC               |  | US        |     37345 | NS      | $3412212.65   | 0.99%             |  |  |  | No            |                  1 | On Loan: No      |
| KINSALE CAPITAL GROUP, INC.            | KINSALE CAPITAL GROUP INC COMMON STOCK                     | CUSIP: 49714P108<br>LEI: 529900QTUQHNZ6HOA508 | Long             | EC               |  | US        |      6890 | NS      | $3036354.10   | 0.88%             |  |  |  | No            |                  1 | On Loan: No      |
| S&P GLOBAL INC.                        | S&P GLOBAL INC COMMON STOCK                                | CUSIP: 78409V104<br>LEI: Y6X4K52KMJMZE7I7MY94 | Long             | EC               |  | US        |     20942 | NS      | $11541136.20  | 3.35%             |  |  |  | No            |                  1 | On Loan: No      |
| ARES MANAGEMENT CORPORATION            | ARES MANAGEMENT CORP - A COMMON STOCK                      | CUSIP: 03990B101<br>LEI: 529900JUV61FH7B8VW38 | Long             | EC               |  | US        |     17246 | NS      | $3199650.38   | 0.93%             |  |  |  | No            |                  1 | On Loan: No      |
| SPOTIFY TECHNOLOGY S.A.                | SPOTIFY TECHNOLOGY SA COMMON STOCK                         | CUSIP: L8681T102<br>LEI: 549300B4X0JHWV0DTD60 | Long             | EC               |  | US        |      9042 | NS      | $5665174.68   | 1.65%             |  |  |  | No            |                  1 | On Loan: No      |
| SERVICENOW, INC.                       | SERVICENOW INC COMMON STOCK                                | CUSIP: 81762P102<br>LEI: 549300HJTQM36M0E1G39 | Long             | EC               |  | US        |      6961 | NS      | $6565058.32   | 1.91%             |  |  |  | No            |                  1 | On Loan: No      |
| LIVE NATION ENTERTAINMENT, INC.        | LIVE NATION ENTERTAINMENT IN COMMON STOCK                  | CUSIP: 538034109<br>LEI: 5493007B9BM9ZXJINO78 | Long             | EC               |  | US        |     22021 | NS      | $3252501.70   | 0.94%             |  |  |  | No            |                  1 | On Loan: No      |
| N/A                                    | FIRST AMERICAN GOVERNMENT OBLIGATIONS FUND CLASS X CLASS X | CUSIP: 31846V336<br>LEI: N/A                  | Long             | STIV             |  | US        |  12065777 | PA      | $12065776.99  | 3.50%             |  |  |  | No            |                  1 | On Loan: No      |
| META PLATFORMS, INC.                   | META PLATFORMS INC COMMON STOCK                            | CUSIP: 30303M102<br>LEI: BQ4BKCS1HXDV9HN80Z93 | Long             | EC               |  | US        |     27941 | NS      | $21610687.04  | 6.28%             |  |  |  | No            |                  1 | On Loan: No      |
| MICROSOFT CORPORATION                  | MICROSOFT CORP COMMON STOCK                                | CUSIP: 594918104<br>LEI: INR2EJN1ERAN0W5ZP974 | Long             | EC               |  | US        |     26942 | NS      | $14373557.00  | 4.17%             |  |  |  | No            |                  1 | On Loan: No      |
| AXON ENTERPRISE, INC.                  | AXON ENTERPRISE INC COMMON STOCK                           | CUSIP: 05464C101<br>LEI: 549300QP2IEEGFE16681 | Long             | EC               |  | US        |      7514 | NS      | $5676751.86   | 1.65%             |  |  |  | No            |                  1 | On Loan: No      |
| SHOPIFY INC.                           | SHOPIFY INC - CLASS A COMMON STOCK                         | CUSIP: 82509L107<br>LEI: 549300HGQ43STJLLP808 | Long             | EC               |  | US        |     45598 | NS      | $5572531.58   | 1.62%             |  |  |  | No            |                  1 | On Loan: No      |
| ELI LILLY AND COMPANY                  | ELI LILLY & CO COMMON STOCK                                | CUSIP: 532457108<br>LEI: FRDRIPF3EKNDJ2CQJL29 | Long             | EC               |  | US        |     10122 | NS      | $7490988.54   | 2.18%             |  |  |  | No            |                  1 | On Loan: No      |
| NETFLIX, INC.                          | NETFLIX INC COMMON STOCK                                   | CUSIP: 64110L106<br>LEI: 549300Y7VHGU0I7CE873 | Long             | EC               |  | US        |     12902 | NS      | $14958578.80  | 4.34%             |  |  |  | No            |                  1 | On Loan: No      |
| QUANTA SERVICES, INC.                  | QUANTA SERVICES INC COMMON STOCK                           | CUSIP: 74762E102<br>LEI: SHVRXXEACT60MMH07S24 | Long             | EC               |  | US        |     32610 | NS      | $13243899.30  | 3.85%             |  |  |  | No            |                  1 | On Loan: No      |
| BOSTON SCIENTIFIC CORPORATION          | BOSTON SCIENTIFIC CORP COMMON STOCK                        | CUSIP: 101137107<br>LEI: Y6ZDD9FP4P8JSSJMW954 | Long             | EC               |  | US        |     86452 | NS      | $9070543.84   | 2.63%             |  |  |  | No            |                  1 | On Loan: No      |
| NVIDIA CORPORATION                     | NVIDIA CORP COMMON STOCK                                   | CUSIP: 67066G104<br>LEI: 549300S4KLFTLO7GSQ80 | Long             | EC               |  | US        |     29239 | NS      | $5200740.93   | 1.51%             |  |  |  | No            |                  1 | On Loan: No      |
| Canadien Pacifique Kansas City Limitee | CANADIAN PACIFIC KANSAS CITY COMMON STOCK                  | CUSIP: 13646K108<br>LEI: N/A                  | Long             | EC               |  | US        |     28468 | NS      | $2093821.40   | 0.61%             |  |  |  | No            |                  1 | On Loan: No      |
| CLOUDFLARE, INC.                       | CLOUDFLARE INC - CLASS A COMMON STOCK                      | CUSIP: 18915M107<br>LEI: 5493007DY18BGNLDWU14 | Long             | EC               |  | US        |     19007 | NS      | $3947373.76   | 1.15%             |  |  |  | No            |                  1 | On Loan: No      |
| Shift4 Payments Inc                    | SHIFT4 PAYMENTS INC-CLASS A COMMON STOCK                   | CUSIP: 82452J109<br>LEI: N/A                  | Long             | EC               |  | US        |     70120 | NS      | $7222360.00   | 2.10%             |  |  |  | No            |                  1 | On Loan: No      |
| CYBERARK SOFTWARE LTD.                 | CYBERARK SOFTWARE LTD/ISRAEL COMMON STOCK                  | CUSIP: M2682V108<br>LEI: 529900YEXNDM894PWS93 | Long             | EC               |  | US        |     14510 | NS      | $5970429.70   | 1.73%             |  |  |  | No            |                  1 | On Loan: No      |
| HOWMET AEROSPACE INC.                  | HOWMET AEROSPACE INC COMMON STOCK                          | CUSIP: 443201108<br>LEI: 549300HO5WFZUT5N2T22 | Long             | EC               |  | US        |    102932 | NS      | $18504085.64  | 5.37%             |  |  |  | No            |                  1 | On Loan: No      |
| TRANSDIGM GROUP INCORPORATED           | TRANSDIGM GROUP INC COMMON STOCK                           | CUSIP: 893641100<br>LEI: N/A                  | Long             | EC               |  | US        |      8114 | NS      | $13051044.44  | 3.79%             |  |  |  | No            |                  1 | On Loan: No      |
| AMPHENOL CORPORATION                   | AMPHENOL CORP-CL A COMMON STOCK                            | CUSIP: 032095101<br>LEI: 549300D3L3G0R4U4VT04 | Long             | EC               |  | US        |    143507 | NS      | $15284930.57  | 4.44%             |  |  |  | No            |                  1 | On Loan: No      |

### Signature

**Date Signed:** 2025-07-31

**Name of Applicant:** THE ADVISORS' INNER CIRCLE FUND

**Signature:** Andrew Metzger

**Name of Signer:** Andrew Metzger

**Title:** Treasurer, Controller and Chief Financial Officer