# EDGAR Filing Document

**Accession Number:** 0000890540
**File Stem:** 0001398344-25-017567
**Filing Date:** 2025-9
**Character Count:** 85772
**Document Hash:** def46d0e13d87bb42d9f5e5a9a50c6e2
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001398344-25-017567.hdr.sgml**: 20250904

**ACCESSION NUMBER**: 0001398344-25-017567

**CONFORMED SUBMISSION TYPE**: N-CSRS

**PUBLIC DOCUMENT COUNT**: 18

**CONFORMED PERIOD OF REPORT**: 20250630

**FILED AS OF DATE**: 20250904

**DATE AS OF CHANGE**: 20250904

**EFFECTIVENESS DATE**: 20250904

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Advisors' Inner Circle Fund II
- **CENTRAL INDEX KEY:** 0000890540

**ORGANIZATION NAME:**
- **EIN:** 233040006
- **STATE OF INCORPORATION:** MA
- **FISCAL YEAR END:** 0131

**FILING VALUES:**
- **FORM TYPE:** N-CSRS
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-07102
- **FILM NUMBER:** 251292754

**BUSINESS ADDRESS:**
- **STREET 1:** ONE FREEDOM VALLEY DRIVE
- **CITY:** OAKS
- **STATE:** PA
- **ZIP:** 19456
- **BUSINESS PHONE:** 6106761000

**MAIL ADDRESS:**
- **STREET 1:** ONE FREEDOM VALLEY DRIVE
- **CITY:** OAKS
- **STATE:** PA
- **ZIP:** 19456

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** Advisors Inner Circle Fund II
- **DATE OF NAME CHANGE:** 20041029

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** ARBOR FUND
- **DATE OF NAME CHANGE:** 19920929

## Series and Classes Contracts Data

### Vontobel International Equity Active ETF (Series ID: S000092345)

| Class ID   | Class Name                               | Ticker Symbol   |
|:---|:---|:---|
| C000260308 | Vontobel International Equity Active ETF | VNIE            |

?xml version='1.0' encoding='ASCII'? Consolidated ssr-output-EDGAR XBRL File

**UNITED STATES**

**SECURITIES AND EXCHANGE COMMISSION**

**Washington, D.C. 20549**

**FORM N-CSRS**

**CERTIFIED SHAREHOLDER REPORT OF REGISTERED MANAGEMENT** 

**INVESTMENT COMPANIES**

**Investment Company Act File Number 811-07102**

**The Advisors' Inner Circle Fund II**

(Exact name of registrant as specified in charter)

SEI Investments

One Freedom Valley Drive

Oaks, PA 19456

(Address of principal executive offices) (Zip code)

SEI Investments

One Freedom Valley Drive

Oaks, PA 19456

(Name and address of agent for service)

**Registrant's telephone number, including area code: 1-877-446-3863**

**Date of fiscal year end: December 31, 2025**

**Date of reporting period: June 30, 2025** 

**Item 1.** **Reports to Stockholders.**

(a) A
 copy of the report transmitted to stockholders pursuant to Rule 30e-1 under the Investment Company Act of 1940, as amended

(the "Act") (17 CFR § 270.30e-1), is attached hereto.

**# The Advisors' Inner Circle Fund II
![Image](ia686cda403ff7d9283c548aa.jpg)

## Vontobel International Equity Active ETF

#### Principal Listing Exchange: NYSE Arca

## Ticker: VNIE

## Semi-Annual Shareholder Report: June 30, 2025
This semi-annual shareholder report contains important information about the Vontobel International Equity Active ETF (the "Fund") for the period from May 14, 2025 (commencement of operations) to June 30, 2025. You can find additional information about the Fund at https://am.vontobel.com/en/strategies/exchange-traded-funds. You can also request this information by contacting us at 877-734-6278.

# What were the Fund costs for the period?
(based on a hypothetical $10,000 investment)

---

| | | |
|:---|:---|:---|
| <u>Fund Name</u> | <u>Costs of a $10,000 investment<sup>Footnote Reference\*</sup></u> | <u>Costs paid as a percentage of a $10,000 investment</u> |
| Vontobel International Equity Active ETF | $8 | 0.58% |

---

---

| | |
|:---|:---|
| Footnote | Description |
| &nbsp;&nbsp;Footnote<sup>\*</sup> | &nbsp;&nbsp;Costs shown not annualized. If the Fund had been open for the semi-annual period, costs shown would have been higher for the period ended. |

---

# Key Fund Statistics as of June 30, 2025

---

| | | | |
|:---|:---|:---|:---|
| <u>Total Net Assets</u> | <u>Number of Holdings</u> | <u>Total Advisory Fees Paid</u> | <u>Portfolio Turnover Rate</u> |
| $11823245 | 45 | $- | 13% |

---

# What did the Fund invest in?

# Country Weightings<sup>Footnote Reference \*</sup>
![Group By Sector Chart](i8cb79333f65cce03f465ee05.jpg)

---

| | |
|:---|:---|
| Value | Value.1 |
| Other Countries | 6.1% |
| Taiwan | 3.0% |
| Italy | 3.6% |
| China | 3.7% |
| Canada | 5.2% |
| France | 5.5% |
| Netherlands | 6.7% |
| United States | 7.9% |
| Sweden | 8.0% |
| Switzerland | 10.6% |
| Japan | 11.4% |
| Germany | 12.6% |
| United Kingdom | 13.0% |

---

---

| | |
|:---|:---|
| Footnote | Description |
| &nbsp;&nbsp;Footnote<sup>\*</sup> | &nbsp;&nbsp;Percentages are calculated based on total net assets. |

---

# Top Ten Holdings

---

| | |
|:---|:---|
| <u>Holding Name</u> | <u>Percentage of Total Net Assets</u> |
| Philip Morris International | 5.1% |
| Galderma Group | 4.0% |
| Capcom | 4.0% |
| Rheinmetall | 3.8% |
| Tencent Holdings | 3.7% |
| Halma | 3.5% |
| Svenska Handelsbanken, Cl A | 3.4% |
| Games Workshop Group | 3.4% |
| Deutsche Boerse | 3.3% |
| Universal Music Group | 3.3% |

---

# Additional Information
For additional information about the Fund, including its prospectus, financial information, holdings, and proxy voting information, call or visit:

* 877-734-6278 

* https://am.vontobel.com/en/strategies/exchange-traded-funds 

## Householding
Rule 30e-1 of the Investment Company Act of 1940 permits funds to transmit only one copy of a proxy statement, annual report or semi-annual report to shareholders (who need not be related) with the same residential, commercial or electronic address, provided that the shareholders have consented in writing and the reports are addressed either to each shareholder individually or to the shareholders as a group. This process is known as "householding" and is designed to reduce the duplicate copies of materials that shareholders receive and to lower printing and mailing costs for funds. Once implemented, if you would like to discontinue householding for your accounts, please call toll-free at 877-734-6278 to request individual copies of these documents. Once the Fund receives notice to stop householding, we will begin sending individual copies 30 days after receiving your request.

![Image](ia686cda403ff7d9283c548aa.jpg)

#### VNIE-SAR-2025**

(b) Not
 applicable.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

**Item 2.** **Code of Ethics.**

Not applicable for semi-annual report.

**Item 3.** **Audit Committee Financial Expert.**

Not applicable for semi-annual report.

**Item 4.** **Principal Accountant Fees and Services.**

Not applicable for semi-annual report.

**Item 5.** **Audit Committee of Listed Registrants.**

Not applicable to open-end management investment companies.

**Item 6.** **Schedule of Investments.**

(a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; The Schedules of Investments are included as part of the Financial Statements and Other Information filed under Item 7 of this form.

(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Not applicable.

**Item 7.** **Financial Statements and Financial Highlights for Open-End Management Investment Companies.**

Financial Statements and Financial Highlights are filed herein.

**THE ADVISORS' INNER CIRCLE FUND II**

![](fp0095150_01.jpg)

**Vontobel International Equity Active ETF**

**SEMI-ANNUAL FINANCIALS AND OTHER INFORMATION**

**JUNE 30, 2025**

![](fp0095150_02.jpg)

---

| | |
|:---|:---|
| **THE ADVISORS' INNER CIRCLE FUND II** | **VONTOBEL** |
|  | **INTERNATIONAL EQUITY ACTIVE ETF** |
|  | **JUNE 30, 2025** |
| | **(Unaudited)** |

---

**TABLE OF CONTENTS**

---

| | |
|:---|:---|
| Financial Statements (Form N-CSRS Item 7) | Financial Statements (Form N-CSRS Item 7) |
| &nbsp;&nbsp;&nbsp;Schedule of Investments | &nbsp;&nbsp;&nbsp;1 |
| &nbsp;&nbsp;&nbsp;Statement of Assets and Liabilities | &nbsp;&nbsp;&nbsp;3 |
| &nbsp;&nbsp;&nbsp;Statement of Operations | &nbsp;&nbsp;&nbsp;4 |
| &nbsp;&nbsp;&nbsp;Statement of Changes in Net Assets | &nbsp;&nbsp;&nbsp;5 |
| &nbsp;&nbsp;&nbsp;Financial Highlights | &nbsp;&nbsp;&nbsp;6 |
| &nbsp;&nbsp;&nbsp;Notes to Financial Statements | &nbsp;&nbsp;&nbsp;7 |
| Other Information (Form N-CSRS Items 8-11) | 13 |

---

---

| | |
|:---|:---|
| **THE ADVISORS' INNER CIRCLE FUND II** | **VONTOBEL** |
|  | **INTERNATIONAL EQUITY ACTIVE ETF** |
|  | **JUNE 30, 2025** |
| | **(Unaudited)** |

---

---

| | | |
|:---|:---|:---|
| **SCHEDULE OF INVESTMENTS** | | |
| **COMMON STOCK — 97.3%** |  |  |
|  | Shares | Value |
| **BRAZIL — 2.6%** |  |  |
| &nbsp;&nbsp;&nbsp;**Consumer Discretionary — 2.6%** |  |  |
| &nbsp;&nbsp;&nbsp;MercadoLibre \* | 115 | $300567 |
| **CANADA — 5.2%** |  |  |
| &nbsp;&nbsp;&nbsp;**Financials — 3.1%** |  |  |
| &nbsp;&nbsp;&nbsp;Intact Financial | 1581 | 366892 |
| &nbsp;&nbsp;&nbsp;**Information Technology — 2.1%** |  |  |
| &nbsp;&nbsp;&nbsp;Constellation Software | 67 | 245177 |
|  |  | 612069 |
| **CHINA — 3.7%** |  |  |
| &nbsp;&nbsp;&nbsp;**Communication Services — 3.7%** |  |  |
| &nbsp;&nbsp;&nbsp;Tencent Holdings | 6753 | 432708 |
| **FRANCE — 5.5%** |  |  |
| &nbsp;&nbsp;&nbsp;**Consumer Discretionary — 1.0%** |  |  |
| &nbsp;&nbsp;&nbsp;Hermes International | 44 | 118742 |
| &nbsp;&nbsp;&nbsp;**Consumer Staples — 1.3%** |  |  |
| &nbsp;&nbsp;&nbsp;L'Oreal | 378 | 161112 |
| &nbsp;&nbsp;&nbsp;**Industrials — 0.9%** |  |  |
| &nbsp;&nbsp;&nbsp;Schneider Electric | 395 | 104697 |
| &nbsp;&nbsp;&nbsp;**Materials — 2.3%** |  |  |
| &nbsp;&nbsp;&nbsp;Air Liquide | 1311 | 269525 |
|  |  | 654076 |
| **GERMANY — 12.6%** |  |  |
| &nbsp;&nbsp;&nbsp;**Communication Services — 2.4%** |  |  |
| &nbsp;&nbsp;&nbsp;CTS Eventim & KGaA | 2328 | 288028 |
| &nbsp;&nbsp;&nbsp;**Financials — 3.3%** |  |  |
| &nbsp;&nbsp;&nbsp;Deutsche Boerse | 1200 | 390046 |
| &nbsp;&nbsp;&nbsp;**Industrials — 3.8%** |  |  |
| &nbsp;&nbsp;&nbsp;Rheinmetall | 213 | 449303 |
| &nbsp;&nbsp;&nbsp;**Information Technology — 3.1%** |  |  |
| &nbsp;&nbsp;&nbsp;SAP | 1198 | 363028 |
|  |  | 1490405 |
| **INDIA — 1.7%** |  |  |
| &nbsp;&nbsp;&nbsp;**Financials — 1.7%** |  |  |
| &nbsp;&nbsp;&nbsp;ICICI Bank ADR | 5963 | 200595 |
| **IRELAND — 1.8%** |  |  |
| &nbsp;&nbsp;&nbsp;**Consumer Discretionary — 0.8%** |  |  |
| &nbsp;&nbsp;&nbsp;Flutter Entertainment \* | 340 | 96166 |

---

---

| | | |
|:---|:---|:---|
| **COMMON STOCK — continued** | | |
|  | Shares | Value |
| **IRELAND — continued** |  |  |
| &nbsp;&nbsp;&nbsp;**Industrials — 1.0%** |  |  |
| &nbsp;&nbsp;&nbsp;Experian | 2264 | $116405 |
|  |  | 212571 |
| **ITALY — 3.6%** |  |  |
| &nbsp;&nbsp;&nbsp;**Consumer Discretionary — 1.7%** |  |  |
| &nbsp;&nbsp;&nbsp;Ferrari | 408 | 199282 |
| &nbsp;&nbsp;&nbsp;**Utilities — 1.9%** |  |  |
| &nbsp;&nbsp;&nbsp;Terna - Rete Elettrica Nazionale | 22515 | 230621 |
|  |  | 429903 |
| **JAPAN — 11.4%** |  |  |
| &nbsp;&nbsp;&nbsp;**Communication Services — 4.0%** |  |  |
| &nbsp;&nbsp;&nbsp;Capcom | 13731 | 468933 |
| &nbsp;&nbsp;&nbsp;**Consumer Staples — 0.8%** |  |  |
| &nbsp;&nbsp;&nbsp;Asahi Group Holdings | 7104 | 94797 |
| &nbsp;&nbsp;&nbsp;**Industrials — 1.1%** |  |  |
| &nbsp;&nbsp;&nbsp;MonotaRO | 6575 | 129502 |
| &nbsp;&nbsp;&nbsp;**Information Technology — 5.5%** |  |  |
| &nbsp;&nbsp;&nbsp;Keyence | 54 | 21623 |
| &nbsp;&nbsp;&nbsp;Nomura Research Institute | 7905 | 316484 |
| &nbsp;&nbsp;&nbsp;Obic | 8105 | 314841 |
|  |  | 652948 |
|  |  | 1346180 |
| **NETHERLANDS — 6.7%** |  |  |
| &nbsp;&nbsp;&nbsp;**Communication Services — 3.3%** |  |  |
| &nbsp;&nbsp;&nbsp;Universal Music Group | 11928 | 384765 |
| &nbsp;&nbsp;&nbsp;**Consumer Staples — 2.1%** |  |  |
| &nbsp;&nbsp;&nbsp;Coca-Cola Europacific Partners | 2725 | 252662 |
| &nbsp;&nbsp;&nbsp;**Industrials — 1.3%** |  |  |
| &nbsp;&nbsp;&nbsp;Wolters Kluwer | 954 | 158963 |
|  |  | 796390 |
| **SWEDEN — 8.0%** |  |  |
| &nbsp;&nbsp;&nbsp;**Financials — 3.4%** |  |  |
| &nbsp;&nbsp;&nbsp;Svenska Handelsbanken, Cl A | 30338 | 402527 |
| &nbsp;&nbsp;&nbsp;**Industrials — 4.6%** |  |  |
| &nbsp;&nbsp;&nbsp;Atlas Copco, Cl A | 2136 | 34258 |
| &nbsp;&nbsp;&nbsp;Beijer Ref, Cl B | 5924 | 92834 |
| &nbsp;&nbsp;&nbsp;Epiroc, Cl A | 5345 | 115196 |
| &nbsp;&nbsp;&nbsp;Lifco, Cl B | 7608 | 305584 |
|  |  | 547872 |
|  |  | 950399 |
| **SWITZERLAND — 10.6%** |  |  |
| &nbsp;&nbsp;&nbsp;**Consumer Staples — 3.1%** |  |  |
| &nbsp;&nbsp;&nbsp;Chocoladefabriken Lindt & Spruengli | 22 | 368970 |

---

*The accompanying notes are an integral part of the financial statements.*

---

| | |
|:---|:---|
| **THE ADVISORS' INNER CIRCLE FUND II** | **VONTOBEL** |
|  | **INTERNATIONAL EQUITY ACTIVE ETF** |
|  | **JUNE 30, 2025** |
| | **(Unaudited)** |

---

---

| | | |
|:---|:---|:---|
| **COMMON STOCK — continued** | | |
|  | Shares | Value |
| **SWITZERLAND — continued** |  |  |
| &nbsp;&nbsp;&nbsp;**Health Care — 4.5%** |  |  |
| &nbsp;&nbsp;&nbsp;Alcon | 561 | $49475 |
| &nbsp;&nbsp;&nbsp;Galderma Group | 3295 | 476037 |
|  |  | 525512 |
| &nbsp;&nbsp;&nbsp;**Industrials — 3.0%** |  |  |
| &nbsp;&nbsp;&nbsp;Schindler Holding | 954 | 353555 |
|  |  | 1248037 |
| **TAIWAN — 3.0%** |  |  |
| &nbsp;&nbsp;&nbsp;**Information Technology — 3.0%** |  |  |
| &nbsp;&nbsp;&nbsp;Taiwan Semiconductor Manufacturing ADR | 1552 | 351513 |
| **UNITED KINGDOM — 13.0%** |  |  |
| &nbsp;&nbsp;&nbsp;**Consumer Discretionary — 3.4%** |  |  |
| &nbsp;&nbsp;&nbsp;Games Workshop Group | 1797 | 399421 |
| &nbsp;&nbsp;&nbsp;**Financials — 1.0%** |  |  |
| &nbsp;&nbsp;&nbsp;London Stock Exchange Group | 866 | 126208 |
| &nbsp;&nbsp;&nbsp;**Industrials — 2.1%** |  |  |
| &nbsp;&nbsp;&nbsp;RELX | 4595 | 247904 |
| &nbsp;&nbsp;&nbsp;**Information Technology — 3.5%** |  |  |
| &nbsp;&nbsp;&nbsp;Halma | 9444 | 414131 |

---

---

| | | |
|:---|:---|:---|
| **COMMON STOCK — continued** | | |
|  | Shares | Value |
| **UNITED KINGDOM — continued** |  |  |
| &nbsp;&nbsp;&nbsp;**Utilities — 3.0%** |  |  |
| &nbsp;&nbsp;&nbsp;National Grid | 24204 | $352078 |
|  |  | 1539742 |
| **UNITED STATES — 7.9%** |  |  |
| &nbsp;&nbsp;&nbsp;**Consumer Staples — 5.1%** |  |  |
| &nbsp;&nbsp;&nbsp;Philip Morris International | 3330 | 606493 |
| &nbsp;&nbsp;&nbsp;**Financials — 1.8%** |  |  |
| &nbsp;&nbsp;&nbsp;Aon, Cl A | 190 | 67784 |
| &nbsp;&nbsp;&nbsp;Mastercard, Cl A | 257 | 144419 |
|  |  | 212203 |
| &nbsp;&nbsp;&nbsp;**Industrials — 1.0%** |  |  |
| &nbsp;&nbsp;&nbsp;RB Global | 1091 | 115853 |
|  |  | 934549 |
| &nbsp;&nbsp;&nbsp;TOTAL COMMON STOCK |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(Cost $11,228,891) |  | 11499704 |
| TOTAL INVESTMENTS — 97.3% |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(Cost $11,228,891) |  | $11499704 |

---

 

*Percentages are based on Net Assets of $11,823,245.*

\* *Non-income producing security.*

*ADR — American Depositary Receipt*

*Cl — Class*

*As of June 30, 2025, all of the Fund's investments in securities were considered Level 1 in accordance with the authoritative guidance on fair value measurements and disclosure under U.S. generally accepted accounting principles.*

For more information on valuation inputs, see Note 2 — Significant Accounting Policies in the Notes to Financial Statements.

*The accompanying notes are an integral part of the financial statements.*

---

| | |
|:---|:---|
| **THE ADVISORS' INNER CIRCLE FUND II** | **VONTOBEL** |
|  | **INTERNATIONAL EQUITY ACTIVE ETF** |
|  | **JUNE 30, 2025** |
| | **(Unaudited)** |

---

---

| | |
|:---|:---|
| **STATEMENT OF ASSETS AND LIABILITIES** | |
| **Assets:** | |
| &nbsp;&nbsp;&nbsp;Investments, at Value (Cost $11,228,891) | $11499704 |
| &nbsp;&nbsp;&nbsp;Foreign Currency, at Value (Cost $1,156) | 1156 |
| &nbsp;&nbsp;&nbsp;Cash | 277882 |
| &nbsp;&nbsp;&nbsp;Receivable for Investment Securities Sold | 225849 |
| &nbsp;&nbsp;&nbsp;Due from Adviser | 12428 |
| &nbsp;&nbsp;&nbsp;Dividends and Interest Receivable | 12252 |
| &nbsp;&nbsp;&nbsp;Foreign Tax Reclaim Receivable | 448 |
| **Total Assets** | 12029719 |
| **Liabilities:** |  |
| &nbsp;&nbsp;&nbsp;Payable for Investment Securities Purchased | 187554 |
| &nbsp;&nbsp;&nbsp;Payable due to Administrator | 8219 |
| &nbsp;&nbsp;&nbsp;Payable for Offering Costs | 4633 |
| &nbsp;&nbsp;&nbsp;Unrealized Depreciation on Spot Currency Contracts | 320 |
| &nbsp;&nbsp;&nbsp;Payable due to Trustees | 242 |
| &nbsp;&nbsp;&nbsp;Chief Compliance Officer Fees Payable | 87 |
| &nbsp;&nbsp;&nbsp;Other Accrued Expenses | 5419 |
| **Total Liabilities** | 206474 |
| **Commitments and Contingencies †** |  |
| **Net Assets** | $11823245 |
| **Net Assets Consist of:** |  |
| &nbsp;&nbsp;&nbsp;Paid-in Capital | $11591507 |
| &nbsp;&nbsp;&nbsp;Total Distributable Earnings | 231738 |
| **Net Assets** | $11823245 |
| **Shares:** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Net Assets | $11823245 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Outstanding Shares of Beneficial Interest (unlimited authorization - no par value) | 450000 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Net Asset Value, Offering and Redemption Price Per Share | $26.27 |

---

&nbsp;&nbsp;&nbsp;&nbsp;† See Note 5 in the Notes to Financial
 Statements.

*The accompanying notes are an integral part of the financial statements.*

---

| | |
|:---|:---|
| **THE ADVISORS' INNER CIRCLE FUND II** | **VONTOBEL** |
|  | **INTERNATIONAL EQUITY ACTIVE ETF** |

---

---

| | |
|:---|:---|
| **STATEMENT OF OPERATIONS** | |
|  |<br>**For the Period Ended June 30, 2025<sup>(1)</sup> (Unaudited)** |
| **Investment Income:** |  |
| &nbsp;&nbsp;&nbsp;Dividend Income | $19057 |
| &nbsp;&nbsp;&nbsp;Interest Income | 235 |
| &nbsp;&nbsp;&nbsp;Less: Foreign Taxes Withheld | (1352) |
| **Total Investment Income** | 17940 |
| **Expenses:** |  |
| &nbsp;&nbsp;&nbsp;Administration Fees | 12877 |
| &nbsp;&nbsp;&nbsp;Investment Advisory Fees | 5626 |
| &nbsp;&nbsp;&nbsp;Trustees' Fees | 242 |
| &nbsp;&nbsp;&nbsp;Chief Compliance Officer Fees | 86 |
| &nbsp;&nbsp;&nbsp;Audit Fees | 5087 |
| &nbsp;&nbsp;&nbsp;Offering Costs | 4764 |
| &nbsp;&nbsp;&nbsp;Registration Fees | 2035 |
| &nbsp;&nbsp;&nbsp;Custodian Fees | 355 |
| &nbsp;&nbsp;&nbsp;Legal Fees | 167 |
| &nbsp;&nbsp;&nbsp;Printing Fees | 116 |
| &nbsp;&nbsp;&nbsp;Insurance and Other Expenses | 687 |
| **Total Expenses** | 32042 |
| **Less:** |  |
| &nbsp;&nbsp;&nbsp;Waiver of Investment Advisory Fees | (5626) |
| &nbsp;&nbsp;&nbsp;Reimbursement by Investment Adviser | (20789) |
| **Net Expenses** | 5627 |
| **Net Investment Income** | 12313 |
| **Net Realized Gain (Loss) on:** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Investments | (49635) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Foreign Currency Transactions | (1504) |
| **Net Realized Loss** | (51139) |
| **Net Change in Unrealized Appreciation (Depreciation) on:** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Investments | 270813 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Foreign Currency Transactions | (249) |
| **Net Change in Unrealized Appreciation (Depreciation)** | 270564 |
| **Net Realized and Unrealized Gain** | 219425 |
| **Net Increase in Net Assets Resulting from Operations** | $231738 |

---

&nbsp;&nbsp;&nbsp;&nbsp;(1) Commenced operations
 on May 14, 2025.

*Amount designated as "—" are $0.*

 

*The accompanying notes are an integral part of the financial statements.*

---

| | |
|:---|:---|
| **THE ADVISORS' INNER CIRCLE FUND II** | **VONTOBEL** |
|  | **INTERNATIONAL EQUITY ACTIVE ETF** |

---

---

| | |
|:---|:---|
| **STATEMENT OF CHANGES IN NET ASSETS** | |
|  |<br>**Period Ended June 30, 2025<sup>(1)</sup> (Unaudited)** |
| **Operations:** | |
| &nbsp;&nbsp;&nbsp;Net Investment Income | $12313 |
| &nbsp;&nbsp;&nbsp;Net Realized Loss | (51139) |
| &nbsp;&nbsp;&nbsp;Net Change in Unrealized Appreciation | 270564 |
| &nbsp;&nbsp;&nbsp;**Net Increase in Net Assets Resulting from Operations** | 231738 |
| **Capital Share Transactions:** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Issued | 11591507 |
| **Net Increase in Net Assets from Capital Share Transactions** | 11591507 |
| **Total Increase in Net Assets** | 11823245 |
| **Net Assets:** |  |
| &nbsp;&nbsp;&nbsp;Beginning of Period |  |
| &nbsp;&nbsp;&nbsp;End of Period | $11823245 |
| **Shares Transactions:** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Issued | 450000 |
| **Net Increase in Shares Outstanding from Share Transactions** | 450000 |

---

&nbsp;&nbsp;&nbsp;&nbsp;(1) Commenced operations
 on May 14, 2025.

---

| | |
|:---|:---|
| *Amounts* | *designated as "—" are $0.* |

---

 

*The accompanying notes are an integral part of the financial statements.*

---

| | |
|:---|:---|
| **THE ADVISORS' INNER CIRCLE FUND II** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**VONTOBEL** |
|  | **INTERNATIONAL EQUITY ACTIVE ETF** |

---

---

| | | |
|:---|:---|:---|
| **FINANCIAL HIGHLIGHTS** | |  |
| **Selected Per Share Data & Ratios** | **Selected Per Share Data & Ratios** | **Selected Per Share Data & Ratios** |
| **For a Share Outstanding** | **For a Share Outstanding** | **For a Share Outstanding** |
| **Throughout the Period** | **Throughout the Period** | **Throughout the Period** |
|  | **Period**<br> **Ended**<br> **June 30, 2025<sup>(1)</sup> (Unaudited)** | **Period**<br> **Ended**<br> **June 30, 2025<sup>(1)</sup> (Unaudited)** |
| Net Asset Value, Beginning of Period | $25.00 |  |
| Income (Loss) from Operations: |  |  |
| &nbsp;&nbsp;&nbsp;Net Investment Income<sup>(2)</sup> | 0.04 |  |
| &nbsp;&nbsp;&nbsp;Net Realized and Unrealized Gain | 1.23 |  |
| Total from Operations | 1.27 |  |
| Net Asset Value, End of Period | $26.27 |  |
| **Total Return<sup>\*</sup>** | 5.08 | % |
| **Ratios and Supplemental Data** |  |  |
| Net Assets, End of Period (Thousands) | $11823 |  |
| Ratio of Expenses to Average Net Assets<sup>(3)</sup> | 0.58 | %<sup>†</sup> |
| Ratio of Expenses to Average Net Assets (Excluding Waivers)<sup>(3)</sup> | 3.30 | %<sup>†</sup> |
| Ratio of Net Investment Income to Average Net Assets<sup>(4)</sup> | 1.27 | %<sup>†</sup> |
| Portfolio Turnover Rate | 13 | %<sup>(5)</sup> |

---

\* Total return is for the period indicated and has not been annualized. Total return would have been lower had certain expenses not been waived and assumed by the Adviser during the period. Returns shown do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or the redemption of Fund shares.

&nbsp;&nbsp;&nbsp;&nbsp;† Annualized.

&nbsp;&nbsp;&nbsp;&nbsp;(1) Commenced
 operations on May 14, 2025.

&nbsp;&nbsp;&nbsp;&nbsp;(2) Per
 share data calculated using average shares method.

&nbsp;&nbsp;&nbsp;&nbsp;(3) The
 Fund will also indirectly bear their prorated share of expense of any underlying funds in which it invests. Such expenses are not included
 in the calculation of this ratio.

&nbsp;&nbsp;&nbsp;&nbsp;(4) Net
 investment income ratios do not reflect the proportionate share of income and expenses of the underlying funds in which the fund invests.

&nbsp;&nbsp;&nbsp;&nbsp;(5) Portfolio
 turnover is for the period indicated and has not been annualized. Excludes effect of securities received or delivered from processing
 in-kind creations or redemptions.

*The accompanying notes are an integral part of the financial statements.*

---

| | |
|:---|:---|
| **THE ADVISORS' INNER CIRCLE FUND II** | **VONTOBEL** |
|  | **INTERNATIONAL EQUITY ACTIVE ETF** |
|  | **JUNE 30, 2025** |
| | **(Unaudited)** |
| **NOTES TO FINANCIAL STATEMENTS** |  |

---

**1. Organization:**

The Advisors' Inner Circle Fund II (the "Trust") is organized as a Massachusetts statutory trust under a Declaration of Trust dated July 24, 1992. The Trust is registered under the Investment Company Act of 1940 (the "1940 Act"), as amended, as an open-end management investment company with 24 funds. The financial statements herein are those of the Vontobel International Equity Active ETF (the "Fund"). The investment objective of the Fund is to seek long-term capital appreciation. The Fund is classified as a diversified, open-end management investment company registered under the 1940 Act. Vontobel Asset management, Inc. (the "Adviser") serves as the investment adviser of the Fund. The financial statements of the remaining funds of the Trust are presented separately. The assets of each fund are segregated, and a shareholder's interest is limited to the fund in which shares are held.

Shares of the Fund are listed and traded on the NYSE Arca, Inc. (the "Exchange"). Market prices for shares of the Fund may be different from their net asset value ("NAV"). The Fund issues and redeems shares on a continuous basis to certain institutional investors (typically market makers or other broker-dealers) at NAV only in large blocks of shares, called "Creation Units". Transactions for the Fund are generally conducted in exchange for the deposit or delivery of cash. Once created, shares trade in a secondary market at market prices that change throughout the day in share amounts less than a Creation Unit.

The Fund commenced operations on May 14, 2025.

**2. Significant Accounting Policies:**

The accompanying financial statements have been prepared in conformity with U.S. generally accepted accounting principles ("U.S. GAAP") and are presented in U.S. dollars which is the functional currency of the Fund. The Fund is an investment companies and therefore applies the accounting and reporting guidance issued by the U.S. Financial Accounting Standards Board ("FASB") in Accounting Standards Codification ("ASC") Topic 946, Financial Services — Investment Companies. The following are significant accounting policies which are consistently followed in the preparation of the financial statements.

*Use of Estimates —* The preparation of financial statements requires management to make estimates and assumptions that affect the fair value of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates and such differences could be material.

*Security Valuation —* Securities listed on a securities exchange, market or automated quotation system for which quotations are readily available (except for securities traded on NASDAQ), including securities traded over the counter, are valued at the last quoted sale price on an exchange or market (foreign or domestic) on which they are traded on valuation date (or at approximately 4:00 pm ET if a security's primary exchange is normally open at that time), or, if there is no such reported sale on the valuation date, at the most recent quoted bid price. For securities traded on NASDAQ, the NASDAQ Official Closing Price will be used.

Securities for which market prices are not "readily available" are valued in accordance with fair value procedures (the "Fair Value Procedures") established by the Adviser and approved by the Trust's Board of Trustees (the "Board"). Pursuant to Rule 2a-5 under the 1940 Act, the Board has designated the Adviser as the "valuation designee" to determine the fair value of securities and other instruments for which no readily available market quotations are available. The Fair Value Procedures are implemented through a Fair Value Committee (the "Committee") of the Adviser.

Some of the more common reasons that may necessitate that a security be valued using fair value procedures include: the security's trading has been halted or suspended; the security has been de-listed from a national exchange; the security's primary trading market is temporarily closed at a time when under normal conditions it would be open; the security has not been traded for an extended period of time; the security's primary pricing source is not able or willing to provide a price; or trading of the security is subject to local government imposed restrictions. When a security is valued in accordance with the fair value procedures, the Committee will determine the value after taking into consideration relevant information reasonably available to the Committee.

In accordance with the authoritative guidance on fair value measurements and disclosure under U.S. GAAP, the Fund disclose fair value of their investments in a hierarchy that prioritizes the inputs to valuation techniques used to measure the fair value. The objective of a fair value measurement is to determine the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date (an exit price). Accordingly, the fair value hierarchy gives the highest priority to quoted prices (unadjusted) in active markets for identical assets or liabilities (Level 1) and the lowest priority to unobservable inputs (Level 3). The three levels of the fair value hierarchy are described below:

● Level 1 — Unadjusted quoted prices in active markets for identical, unrestricted assets or liabilities that a Fund has the ability to access at the measurement date;

● Level 2 — Other significant observable inputs (includes quoted prices for similar securities, interest rates, prepayment speeds, credit risk, referenced indices, quoted prices in inactive markets, adjusted quoted prices in active markets, adjusted quoted prices on foreign equity securities that were adjusted in accordance with pricing procedures approved by the Board, etc.); and

● Level 3 — Prices, inputs or exotic modeling techniques which are both significant to the fair value measurement and unobservable (supported by little or no market activity).

Investments are classified within the level of the lowest significant input considered in determining fair value. Investments classified within Level 3 whose fair value measurement considers several inputs may include Level 1 or Level 2 inputs as components of the overall fair value measurement.

For details of the investment classifications, refer to the Fund's Schedule of Investments.

*Federal Income Taxes —* It is the Fund's intention to qualify as a regulated investment company for Federal income tax purposes by complying with the appropriate provisions of Subchapter M of the Internal Revenue Code of 1986 (the "Code"), as amended. Accordingly, no provisions for Federal income taxes have been made in the financial statements.

---

| | |
|:---|:---|
| **THE ADVISORS' INNER CIRCLE FUND II** | **VONTOBEL** |
|  | **INTERNATIONAL EQUITY ACTIVE ETF** |
|  | **JUNE 30, 2025** |
| | **(Unaudited)** |

---

The Fund evaluates tax positions taken or expected to be taken in the course of preparing the Fund's tax returns to determine whether it is "more-likely-than-not" (i.e., greater than 50-percent) that each tax position will be sustained upon examination by a taxing authority based on the technical merits of the position. Tax positions not deemed to meet the more-likely-than-not threshold are recorded as a tax benefit or expense in the current periods. The Fund did not record any tax provision in the current periods. However, management's conclusions regarding tax positions taken may be subject to review and adjustment at a later date based on factors including, but not limited to, examination by tax authorities (i.e., from commencement of operations, as applicable), on-going analysis of and changes to tax laws, regulations and interpretations thereof.

As of and during the periods ended June 30, 2025, the Fund did not have a liability for any unrecognized tax benefits. The Fund recognizes interest and penalties, if any, related to unrecognized tax benefits as income tax expense in the Statement of Operations. During the period, the Fund did not incur any interest or penalties.

Withholding taxes on foreign dividends have been provided for in accordance with the Fund's understanding of the applicable country's tax rules and rates. The Fund or its agent files withholding tax reclaims in certain jurisdictions to recover certain amounts previously withheld. The Fund may record a reclaim receivable based on collectability, which includes factors such as the jurisdiction's applicable laws, payment history and market convention. Professional fees paid to those that provide assistance in receiving the tax reclaims, which generally are contingent upon successful receipt of reclaimed amounts, are recorded in Professional Fees on the Statement of Operations once the amounts are due. The professional fees related to pursuing these tax reclaims are not subject to the Adviser's expense limitation agreement.

*Security Transactions and Investment Income —* Security transactions are accounted for on trade date. Costs used in determining realized gains and losses on the sale of investment securities are based on the specific identification method. Dividend income and expense are recorded on the ex-dividend date. Dividend income is recorded net of unrecoverable withholding tax. Interest income is recognized on the accrual basis from settlement date. Certain dividends and expenses from foreign securities will be recorded as soon as the Fund is informed of the dividend if such information is obtained subsequent to the ex-dividend date.

*Investments in Real Estate Investment Trusts ("REITs") —* Dividend income from REITs is recorded based on the income included in distributions received from the REIT investments using published REIT reclassifications, including some management estimates when actual amounts are not available. Distributions received in excess of this estimated amount are recorded as a reduction of the cost of investments or reclassified to capital gains. The actual amounts of income, return of capital, and capital gains are only determined by each REIT after its fiscal year end, and may differ from the estimated amounts.

*Foreign Currency Translation —* The books and records of the Fund are maintained in U.S. dollars. Investment securities and other assets and liabilities denominated in a foreign currency are translated into U.S. dollars on the date of valuation. The Fund does not isolate that portion of realized or unrealized gains and losses resulting from changes in the foreign exchange rate from fluctuations arising from changes in the market prices of the securities. These gains and losses are included in net realized and unrealized gains and losses on investments on the Statement of Operations. Net realized and unrealized gains and losses on foreign currency transactions represent net foreign exchange gains or losses from foreign currency exchange contracts, disposition of foreign currencies, currency gains or losses realized between trade and settlement dates on securities transactions and the difference between the amount of the investment income and foreign withholding taxes recorded on the Fund's books and the U.S. dollar equivalent of the amounts actually received or paid.

*Expenses —* Expenses that are directly related to the Fund are charged to the Fund. Other operating expenses of the Trust are prorated to the funds based on the number of funds and/or relative daily net assets.

*Cash —* Idle cash may be swept into various time deposit accounts and is classified as cash on the Statements of Assets and Liabilities. The Fund maintains cash in bank deposit accounts which, at times may exceed United States federally insured limits. Amounts invested are available on the same business day.

*Dividends and Distributions to Shareholders —* The Fund distributes substantially all of its net investment income annually. Distributions from net realized capital gains, if any, are declared and paid annually. All distributions are recorded on ex-dividend date.

*Offering Costs —* Offering costs, including costs of printing initial prospectus, legal and registration fees, are amortized over twelve-months from inception of the Fund. During the period ended June 30, 2025, the Fund incurred offering costs of $4,764. As of June 30, 2025, the Fund had offering costs of $4,633, remaining to be amortized.

*Creation Units —* The Fund issues shares to (or redeems shares from) certain institutional investors known as "Authorized Participants" (typically market makers or other broker-dealers) only in large blocks of at least 25,000 shares known as "Creation Units." Creation Unit transactions are conducted in exchange for the deposit or delivery of a portfolio of in-kind securities designated by the Fund and/or cash.

The Adviser may retain all or a portion of the transaction fee to the extent the Adviser bears the expenses that otherwise would be borne by the Trust in connection with the purchase or redemption of a Creation Unit, which the transaction fee is designed to cover.

Except when aggregated in Creation Units, Shares are not redeemable securities of a Fund. Shares of the Fund may only be purchased or redeemed by certain Authorized Participants. An Authorized Participant is either (i) a broker- dealer or other participant in the clearing process through the Continuous Net Settlement System of the National Securities Clearing Corporation or (ii) a Depository Trust Company (''DTC'') participant and, in each case, must have executed a Participant Agreement with the Distributor. Most retail investors will not qualify as Authorized Participants or have the resources to buy and sell whole Creation Units. Therefore, they will be unable to purchase or redeem the Shares directly from a Fund. Rather, most retail investors will purchase and sell shares in the secondary market with the assistance of a broker and will be subject to customary brokerage commissions or fees.

To the extent contemplated by an Authorized Participant Agreement, in the event an Authorized Participant has submitted a redemption request in proper form but is unable to transfer all or part of the shares comprising a Creation Unit to be redeemed to SEI Investments Distribution Co. (the "Distributor"), on behalf of the Fund, by the time as set forth in the Authorized Participant Agreement, the Distributor may nonetheless accept the redemption request in reliance on the undertaking by the Authorized Participant to deliver the missing shares as soon as possible, which undertaking shall be secured by the Authorized Participant's delivery and maintenance of collateral equal to a percentage of the value of the missing shares as specified in the Authorized Participant Agreement. An Authorized Participant Agreement may permit the Fund to use such collateral to purchase the missing shares, and could subject an Authorized Participant to liability for any shortfall between the cost of the Fund acquiring such shares and the value of the collateral. Amounts are disclosed as Segregated Cash Balance from Authorized Participants for Deposit Securities and Collateral Payable upon Return of Deposit Securities on the Statement of Assets and Liabilities, when applicable.

---

| | |
|:---|:---|
| **THE ADVISORS' INNER CIRCLE FUND II** | **VONTOBEL** |
|  | **INTERNATIONAL EQUITY ACTIVE ETF** |
|  | **JUNE 30, 2025** |
| | **(Unaudited)** |

---

**3. Transactions with Affiliates:**

Certain officers of the Trust are also employees of SEI Investments Global Funds Services (the "Administrator"), a wholly owned subsidiary of SEI Investments Company, and/or SEI Investments Distribution Co. (the "Distributor"). Such officers are paid no fees by the Trust, other than the Chief Compliance Officer ("CCO") as described below, for serving as officers of the Trust.

The services provided by the CCO and his staff are paid for by the Trust as incurred. The services include regulatory oversight of the Trust's Advisors and service providers as required by SEC regulations. The CCO's services and fees have been approved by and are reviewed by the Board.

**4. Administration, Distribution, Custodian and Transfer Agent Agreements:**

The Fund and SEI Investments Global Fund Services (the "Administrator") are parties to an Administration Agreement under which the Administrator provides management and administrative services to the Fund. For these services, the Administrator is paid an asset-based fee, which will vary depending on the number of share classes and the average daily net assets of the Fund. For the period ended June 30, 2025, the Fund incurred $12,877 for these services.

Brown Brothers Harriman & Co. acts as custodian (the "Custodian") for the Fund. The Custodian plays no role in determining the investment policies of the Fund or which securities are to be purchased or sold by the Fund.

SS&C Global Investor & Distribution Solutions, Inc. serves as the transfer agent and dividend disbursing agent for the Fund under a transfer agency agreement with the Trust.

**5. Investment Advisory Agreement:**

Under the terms of an investment advisory agreement, the Adviser provides investment advisory services to the Fund at a fee calculated at an annual rate of 0.60% of the Fund's average daily net assets.

The Adviser has contractually agreed to waive fees and reimburse expenses to the extent necessary to keep Total Annual Fund Operating Expenses (excluding interest, taxes, brokerage commissions and other costs and expenses relating to the securities that are purchased and sold by the Fund, class-specific expenses (including Distribution (12b-1) Fees and Shareholder Servicing Fees), dividend and interest expenses on securities sold short, acquired fund fees and expenses, other expenditures which are capitalized in accordance with generally accepted accounting principles, and non-routine expenses (collectively, "excluded expenses")) from exceeding 0.60% of the average daily net assets of each of the Fund's share classes until April 30, 2027. This agreement may be terminated: (i) by the Board of Trustees (the "Board") of The Advisors' Inner Circle Fund II (the "Trust"), for any reason at any time; or (ii) by the Adviser, upon ninety (90) days' prior written notice to the Trust, effective as of the close of business on April 30, 2027. Refer to waiver of investment advisory fees on the Statement of Operations for fees waived for the period ended June 30, 2025

As of June 30, 2025, fees previously waived and/or reimbursed by the Adviser, which may be subject to possible future recapture are as follows:

---

| | |
|:---|:---|
|  | **Subject to Repayment Until**<br>**December 31, 2028** |
| Vontobel International Equity Active ETF | $26415 |

---

**6. Investment Transactions:**

For the period ended June 30, 2025, the Fund made purchases of $12,406,187 and sales of $1,127,661 investment in securities other than long-term U.S. Government and short-term securities. The purchase and sales balances include the effect of securities received or delivered from processing in-kind creations of $10,083,788 and redemption of $0, and have been properly excluded from the calculation of portfolio turnover within the Fund's financial highlights.

For the period ended June 30, 2025, there were no purchases or sales of long-term U.S. Government securities by the Fund.

**7. Federal Tax Information:**

The amount and character of income and capital gain distributions to be paid, if any, are determined in accordance with Federal income tax regulations, which may differ from U.S. GAAP. As a result, net investment income (loss) and net realized gain (loss) on investment transactions for a reporting period may differ significantly from distributions during such period. These book/tax differences may be temporary or permanent.

To the extent these differences are permanent in nature, they are charged or credited to Distributable Earnings (Accumulated Losses) or Paid-in Capital, as appropriate, in the period that the differences arise.

---

| | |
|:---|:---|
| **THE ADVISORS' INNER CIRCLE FUND II** | **VONTOBEL** |
|  | **INTERNATIONAL EQUITY ACTIVE ETF** |
|  | **JUNE 30, 2025** |
| | **(Unaudited)** |

---

The Federal tax cost and aggregate gross unrealized appreciation and depreciation for the investments held by the Fund at June 30, 2025, were as follows:

---

| | | | |
|:---|:---|:---|:---|
|<br>**Federal**<br>**Tax Cost** | **Aggregate**<br>**Gross**<br>**Unrealized**<br>**Appreciation** | **Aggregate**<br>**Gross**<br>**Unrealized**<br>**Depreciation** |<br>**Net**<br>**Unrealized**<br>**Appreciation** |
| $11228891 | $334940 | $(64127) | $270813 |

---

**8. Concentration of Risks:**

As with all mutual funds, there is no guarantee that the fund will achieve its investment objective. You could lose money by investing in the Fund. The principal risk factors affecting shareholders' investments in the Fund are set forth below.

**Equity Risk** – Since it purchases equity securities, the Fund is subject to the risk that stock prices may fall over short or extended periods of time. Historically, the equity market has moved in cycles, and the value of the Fund's securities may fluctuate from day to day. Individual companies may report poor results or be negatively affected by industry and/or economic trends and developments. The prices of securities issued by such companies may suffer a decline in response. These factors contribute to price volatility, which is the principal risk of investing in the Fund.

**Market Risk** – The prices of and the income generated by the Fund's securities may decline in response to, among other things, investor sentiment, general economic and market conditions, regional or global instability, and currency and interest rate fluctuations. In addition, the impact of any epidemic, pandemic or natural disaster, or widespread fear that such events may occur, could negatively affect the global economy, as well as the economies of individual countries, the financial performance of individual companies and sectors, and the markets in general in significant and unforeseen ways. Any such impact could adversely affect the prices and liquidity of the securities and other instruments in which the Fund invests, which in turn could negatively impact the Fund's performance and cause losses on your investment in the Fund. Market risk may affect a single issuer, an industry, a sector or the equity or bond market as a whole.

**ETF Risks** – The Fund is an exchange-traded fund ("ETF") and, as a result of this structure, it is exposed to the following risks:

● Trading Risk – Shares of the Fund may trade on the Exchange above (premium) or below (discount) their NAV. In stressed market conditions, the market for Fund shares may become less liquid in response to deteriorating liquidity in the markets for the Fund's underlying portfolio holdings, which may increase the variance between the market price of the Fund shares and the value of its underlying holdings. In addition, although the Fund's shares are currently listed on the Exchange, there can be no assurance that an active trading market for Fund shares will develop or be maintained. Trading in Fund shares may be halted due to market conditions or for reasons that, in the view of the Exchange, make trading in shares of the Fund inadvisable.

● Limited Authorized Participants, Market Makers and Liquidity Providers Risk – Because the Fund is an ETF, only a limited number of institutional investors (known as "Authorized Participants") are authorized to purchase and redeem shares directly from the Fund. Retail investors cannot transact directly with the Fund. In addition, there may be a limited number of market makers and/or liquidity providers in the marketplace to transact in Fund shares. As a result of these and other considerations, Fund shares may trade at a material discount to its NAV. In addition, the Fund may face possible delisting if: (i) Authorized Participants exit the business or otherwise become unable to process creation and/or redemption orders and no other Authorized Participants step forward to perform these services, or (ii) market makers and/or liquidity providers exit the business or significantly reduce their business activities and no other entities step forward to perform their functions .

**Foreign Company Risk** – Investing in foreign companies, including direct investments and investments through depositary receipts, poses additional risks since political and economic events unique to a country or region will affect those markets and their issuers. These risks will not necessarily affect the U.S. economy or similar issuers located in the United States. Securities of foreign companies may not be registered with the U.S. Securities and Exchange Commission (the "SEC") and foreign companies are generally not subject to the regulatory controls imposed on U.S. issuers and, as a consequence, there is generally less publicly available information about foreign securities than is available about domestic securities. Income from foreign securities owned by the Fund may be reduced by a withholding tax at the source, which tax would reduce income received from the securities comprising the portfolio. Foreign securities may also be more difficult to value than securities of U.S. issuers. In addition, periodic U.S. Government restrictions on investments in issuers from certain foreign countries may require the Fund to sell such investments at inopportune times, which could result in losses to the Fund. While depositary receipts provide an alternative to directly purchasing the underlying foreign securities in their respective national markets and currencies, investments in depositary receipts continue to be subject to many of the risks associated with investing directly in foreign securities.

**Foreign Currency Risk** – Currency risk is the risk that foreign currencies will decline in value relative to the U.S. dollar, in which case the dollar value of the Fund's investments in securities denominated in, and/or receiving revenues in, foreign currencies, would be adversely affected.

**Emerging Markets Securities Risk** – The Fund's investments in emerging markets securities are considered speculative and subject to heightened risks in addition to the general risks of investing in foreign securities. Unlike more established markets, emerging markets may have governments that are less stable, markets that are less liquid and economies that are less developed. In addition, the securities markets of emerging market countries may consist of companies with smaller market capitalizations and may suffer periods of relative illiquidity; significant price volatility; restrictions on foreign investment; and possible restrictions on repatriation of investment income and capital. Furthermore, foreign investors may be required to register the proceeds of sales, and future economic or political crises could lead to price controls, forced mergers, expropriation or confiscatory taxation, seizure, nationalization or creation of government monopolies. Due to the differences in the nature and quality of financial information of issuers of emerging market securities, including auditing and financial reporting standards, financial information and disclosures about such issuers may be unavailable or, if made available, may be considerably less reliable than publicly available information about other foreign securities.

---

| | |
|:---|:---|
| **THE ADVISORS' INNER CIRCLE FUND II** | **VONTOBEL** |
|  | **INTERNATIONAL EQUITY ACTIVE ETF** |
|  | **JUNE 30, 2025** |
| | **(Unaudited)** |

---

**Investment Style Risk** – The Fund pursues a "growth style" of investing, meaning that the Fund invests in equity securities of companies that the Adviser believes will have above-average rates of relative earnings growth and which, therefore, may experience above-average increases in stock prices. Over time, a relative growth investing style may go in and out of favor, causing the Fund to sometimes underperform other equity funds that use differing investing styles.

**Active Management Risk** – The Fund is subject to the risk that the Adviser's judgments about the attractiveness, value, or potential appreciation of the Fund's investments may prove to be incorrect. If the investments selected and strategies employed by the Fund fail to produce the intended results, the Fund could underperform in comparison to other funds with similar objectives and investment strategies.

**Large Capitalization Company Risk** – The large capitalization companies in which the Fund may invest may lag the performance of smaller capitalization companies because large capitalization companies may experience slower rates of growth than smaller capitalization companies and may not respond as quickly to market changes and opportunities..

**Small- and Mid-Capitalization Company Risk** – The small- and mid-capitalization companies in which the Fund may invest may be more vulnerable to adverse business or economic events than larger, more established companies. In particular, investments in these small- and mid-sized companies may pose additional risks, including liquidity risk, because these companies tend to have limited product lines, markets and financial resources, and may depend upon a relatively small management group. Therefore, small- and mid-cap stocks may be more volatile than those of larger companies. These securities may be traded over-the-counter or listed on an exchange.

**Rights and Warrants Risk** – Investments in rights or warrants involve the risk of loss of the purchase value of a right or warrant if the right to subscribe to additional shares is not exercised prior to the right's or warrant's expiration. Also, the purchase of rights and/or warrants involves the risk that the effective price paid for the right and/or warrant added to the subscription price of the underlying security may exceed the market price of the underlying security in instances such as those where there is no movement in the price of the underlying security.

**Convertible Securities Risk** – The value of a convertible security is influenced by changes in interest rates (with investment value declining as interest rates increase and increasing as interest rates decline) and the credit standing of the issuer. The price of a convertible security will also normally vary in some proportion to changes in the price of the underlying common stock because of the conversion or exercise feature.

**IPO Risk** – The market value of shares issued in an IPO may fluctuate considerably due to factors such as the absence of a prior public market, unseasoned trading, the small number of shares available for trading and limited information about a company's business model, quality of management, earnings growth potential, and other criteria used to evaluate its investment prospects. Accordingly, investments in IPO shares involve greater risks than investments in shares of companies that have traded publicly on an exchange for extended periods of time. Investments in IPO shares may also involve high transaction costs, and are subject to market risk and liquidity risk, which are described elsewhere in this section.

**Sustainability Risk** – Certain ESG events or conditions that, if they occur, could cause an actual or potential material negative impact on the value of an investment. Such risks include, but are not limited to: climate-related and environmental risks (such as environmental product stewardship, footprint, natural resource management, alignment with local and international targets and laws, effects of climate change on agriculture or effects of rising sea level); social risks evaluated as material for the sector (including, without limitation, matters relating to treatment and welfare of employees, supply chain management, data security and privacy, business ethics, severe human rights violation by governments or abuse of civil liberties); governance risks (including, without limitation, business ethics, rights of minority shareholders, independence of board oversight, ownership structures, related party transactions, political stability, economic, political and social framework or government effectiveness); severe sustainability controversies, and violations of international norms.

**ESG Integration/Active Ownership Risk** – The Fund intends to invest a portion of its assets in companies with higher ESG ratings. The considerations assessed as part of ESG processes may vary across types of investments and issuers and not every factor may be identified or considered for all investments. This may affect the Fund's exposure to certain companies or industries and the Fund may forgo certain investment opportunities; however, these ratings are viewed holistically and the Fund may not forego an investment solely based upon a low score. The Fund's results may be lower than other funds that do not seek to invest in companies based on ESG ratings and/or screen out certain companies or industries. The ability to meet ESG objectives might be affected by incomplete or inaccurate data from third-party providers. As a result, the Fund may invest in companies that do not reflect the beliefs and values of any particular investor.

**Third-Party Data Provider Risk** – In assessing the eligibility of a company based on ESG research, the Adviser may rely on information and data from third party ESG data providers and companies, and on internal analyses, which may be based on certain assumptions or hypothesis. The data obtained from third-party data providers or companies may be incomplete, inaccurate, or unavailable and the assumptions or models on which internal analysis rests may have flaws which render the internal assessment incomplete or inaccurate. As a result, there exists a risk that the Adviser incorrectly assesses a security or company, resulting in the incorrect inclusion or exclusion of a security in the Fund's portfolio.

**New Fund Risk** – Because the Fund is new, investors in the Fund bear the risk that the Fund may not be successful in implementing its investment strategy, may not employ a successful investment strategy, or may fail to attract sufficient assets under management to realize economies of scale, any of which could result in the Fund being liquidated at any time without shareholder approval and at a time that may not be favorable for all shareholders. Such liquidation could have negative tax consequences for shareholders and will cause shareholders to incur expenses of liquidation.

**9. Other:**

At June 30, 2025, all shares issued by the Fund were in Creation Unit aggregations to Authorized Participants through primary market transactions (e.g., transactions directly with the Fund). However, the individual shares that make up those Creation Units are traded on the Exchange (e.g., secondary market transactions). Some of those individual shares have been bought and sold by persons that are not Authorized Participants. Each Authorized Participant has entered into an agreement with the Fund's Distributor.

**10. Indemnifications:**

In the normal course of business, the Fund enters into contracts that provide general indemnifications. The Fund's maximum exposure under these arrangements is dependent on future claims that may be made against the Fund and, therefore, cannot be established; however, based on experience, the risk of loss from such claim is considered remote.

---

| | |
|:---|:---|
| **THE ADVISORS' INNER CIRCLE FUND II** | **VONTOBEL** |
|  | **INTERNATIONAL EQUITY ACTIVE ETF** |
|  | **JUNE 30, 2025** |
| | **(Unaudited)** |

---

**11. Recent Accounting Pronouncements:**

In this reporting period, the Fund adopted FASB Accounting Standards Update 2023-07, Segment Reporting (Topic 280) - Improvements to Reportable Segment Disclosures ("ASU 2023-07"). Adoption of the new standard impacted financial statement disclosures only and did not affect the Fund's financial position or the results of its operations. An operating segment is defined in Topic 280 as a component of a public entity that engages in business activities from which it may recognize revenues and incur expenses, has operating results that are regularly reviewed by the public entity's chief operating decision maker (CODM) to make decisions about resources to be allocated to the segment and assess its performance, and has discrete financial information available. The management of the Fund's Adviser acts as the Fund's CODM. The Fund represents a single operating segment, as the CODM monitors the operating results of the Fund as a whole and the Fund's long-term strategic asset allocation is pre-determined in accordance with the Fund's single investment objective which is executed by the Fund's portfolio managers. The financial information in the form of the Fund's schedule of investments, total returns, expense ratios and changes in net assets (i.e., changes in net assets resulting from operations, subscriptions and redemptions), which are used by the CODM to assess the segment's performance versus the Fund's comparative benchmarks and to make resource allocation decisions for the Fund's single segment, is consistent with that presented within the Fund's financial statements. Segment assets are reflected on the accompanying Statement of Assets and Liabilities as "total assets" and significant segment expenses are listed on the accompanying Statement of Operations.

In December 2023, the FASB issued Accounting Standards Update 2023-09 ("ASU 2023-09"), Income Taxes (Topic 740) Improvements to Income Tax Disclosures, which amends quantitative and qualitative income tax disclosure requirements in order to increase disclosure consistency, bifurcate income tax information by jurisdiction and remove information that is no longer beneficial. ASU 2023-09 is effective for annual periods beginning after December 15, 2024, and early adoption is permitted. Fund Management is evaluating the impacts of these changes on the Fund's financial statements.

**12. Subsequent Events:**

The Fund has evaluated the need for additional disclosures and/or adjustments resulting from subsequent events through the date the financial statements were issued. Based on this evaluation, no additional disclosures and/or adjustments were required to the financial statements.

---

| | |
|:---|:---|
| **THE ADVISORS' INNER CIRCLE FUND II** | **VONTOBEL** |
|  | **INTERNATIONAL EQUITY ACTIVE ETF** |
|  | **JUNE 30, 2025** |
| | **(Unaudited)** |
| **OTHER INFORMATION (FORM N-CSRS ITEMS 8-11)** |  |

---

**Item 8. Changes in and Disagreements with Accountants for Open-End Management Investment Companies.**

Not applicable.

**Item 9. Proxy Disclosures for Open-End Management Investment Companies.**

There were no matters submitted to a vote of shareholders during the period covered by this report.

**Item 10. Remuneration Paid to Directors, Officers, and Others of Open-End Management Investment Companies.**

Included within the Statement(s) of Operations of the financial statements.

**Item 11. Statement Regarding Basis for Approval of Investment Advisory Contract.**

Pursuant to Section 15 of the Investment Company Act of 1940 (the "1940 Act"), the Fund's advisory agreement (the "Agreement") must be approved: (i) by a vote of a majority of the shareholders of the Fund; and (ii) by the vote of a majority of the members of the Board of Trustees (the "Board" or the "Trustees") of The Advisors' Inner Circle Fund II (the "Trust") who are not parties to the Agreement or "interested persons" of any party thereto, as defined in the 1940 Act (the "Independent Trustees"), cast in person at a meeting called for the purpose of voting on such approval.

A Board meeting was held on February 25–26, 2025 to decide whether to approve the Agreement for an initial two-year term. In preparation for the meeting, the Trustees requested that the Adviser furnish information necessary to evaluate the terms of the Agreement. The Trustees used this information, as well as other information that the Adviser and other service providers of the Fund presented or submitted to the Board at the meeting and at other meetings held during the prior year, to help them decide whether to approve the Agreement for an initial two-year term.

Specifically, the Board requested and received written materials from the Adviser and other service providers of the Fund regarding: (i) the nature, extent and quality of the services to be provided by the Adviser; (ii) the Adviser's investment management personnel; (iii) the Adviser's operations and financial condition; (iv) the Adviser's brokerage practices (including any soft dollar arrangements) and investment strategies; (v) the Fund's proposed advisory fee to be paid to the Adviser and the Fund's overall fees and operating expenses compared with a peer group of funds; (vi) the Adviser's compliance program, including a description of material compliance matters and material compliance violations; (vii) the Adviser's policies on and compliance procedures for personal securities transactions; (viii) the Adviser's investment experience; (ix) the Adviser's rationale for introducing the Fund as well as the Fund's proposed objective and strategy; and (x) the Adviser's performance in managing similar accounts.

Representatives from the Adviser, along with other Fund service providers, presented additional information and participated in question and answer sessions at the meeting to help the Trustees evaluate the Adviser's services, fee and other aspects of the Agreement. The Independent Trustees received advice from independent counsel and met in executive session outside the presence of Fund management and the Adviser.

At the Board meeting, the Trustees, including all of the Independent Trustees, based on their evaluation of the information provided by the Adviser and other service providers of the Fund, approved the Agreement. In considering the approval of the Agreement, the Board considered various factors that they determined were relevant, including: (i) the nature, extent and quality of the services to be provided by the Adviser; and (ii) the fees to be paid to the Adviser, as discussed in further detail below.

**Nature, Extent and Quality of Services to be Provided by the Adviser**

In considering the nature, extent and quality of the services to be provided by the Adviser, the Board reviewed the portfolio management services to be provided by the Adviser to the Fund, including the quality and continuity of the Adviser's portfolio management personnel, the resources of the Adviser, and the Adviser's compliance history and compliance program. The Trustees reviewed the terms of the proposed Agreement. The Trustees also reviewed the Adviser's proposed investment and risk management approaches for the Fund. The most recent investment adviser registration form ("Form ADV") for the Adviser was available to the Board, as was the response of the Adviser to a detailed series of questions which included, among other things, information about the investment advisory services to be provided by the Adviser to the Fund.

The Trustees also considered other services to be provided to the Fund by the Adviser such as selecting broker-dealers for executing portfolio transactions, monitoring adherence to the Fund's investment restrictions, and monitoring compliance with various Fund policies and procedures and with applicable securities laws and regulations. Based on the factors above, as well as those discussed below, the Board concluded, within the context of its full deliberations, that the nature, extent and quality of the services to be provided to the Fund by the Adviser would be satisfactory.

**Costs of Advisory Services**

In considering the advisory fee payable by the Fund to the Adviser, the Trustees reviewed, among other things, a report of the proposed advisory fee to be paid to the Adviser. The Trustees also reviewed reports prepared by the Fund's administrator comparing the Fund's net and gross expense ratios and advisory fees to those paid by a peer group of funds as classified by Lipper, an independent provider of investment company data. The Trustees reviewed pro forma fee and expense information, as well as the management fees charged by the Adviser to other clients with comparable mandates. The Trustees considered any differences in management fees and took into account the respective demands, resources and complexity associated with the Fund and other client accounts as well as the extensive regulatory, compliance and tax regimes to which the Fund is subject. The Board concluded, within the context of its full deliberations, that the advisory fee was reasonable in light of the nature and quality of the services expected to be rendered by the Adviser. The Board also considered the Adviser's commitment to managing the Fund and its willingness to enter into an expense limitation and fee waiver arrangement with the Fund.

**Investment Performance, Profitability and Economies of Scale**

Because the Fund was new and had not commenced operations, it did not yet have an investment performance record and it was not possible to determine the profitability that the Adviser might achieve with respect to the Fund or the extent to which economies of scale would be realized by the Adviser as the assets of the Fund grow. Accordingly, the Trustees did not make any conclusions regarding the Fund's investment performance, the Adviser's profitability, or the extent to which economies of scale would be realized by the Adviser as the assets of the Fund grow, but will do so during future considerations of the Agreement.

---

| | |
|:---|:---|
| **THE ADVISORS' INNER CIRCLE FUND II** | **VONTOBEL** |
|  | **INTERNATIONAL EQUITY ACTIVE ETF** |
|  | **JUNE 30, 2025** |
| | **(Unaudited)** |

---

**Approval of the Agreement**

Based on the Board's deliberations and its evaluation of the information described above and other factors and information it believed relevant in the exercise of its reasonable business judgment, the Board, including all of the Independent Trustees, with the assistance of Fund counsel and Independent Trustees' counsel, unanimously concluded that the terms of the Agreement, including the fees to be paid thereunder, were fair and reasonable and agreed to approve the Agreement for an initial term of two years. In its deliberations, the Board did not identify any absence of information as material to its decision, or any particular factor (or conclusion with respect thereto) or single piece of information that was all- important, controlling or determinative of its decision, but considered all of the factors together, and each Trustee may have attributed different weights to the various factors (and conclusions with respect thereto) and information.

**Vontobel Funds**

P.O. Box 219009

Kansas City, MO 64121

**Investment Adviser:**

Vontobel Asset Management, Inc.

66 Hudson Boulevard, Suite 3401

New York, NY 10001

**Administrator:**

SEI Investments Global Funds Services

One Freedom Valley Drive

Oaks, PA 19456

**Distributor:**

SEI Investments Distribution Co.

One Freedom Valley Drive

Oaks, PA 19456

**Legal Counsel:**

Morgan, Lewis & Bockius LLP

2222 Market Street

Philadelphia, PA 19103

**Independent Registered Public Accounting Firm:**

Ernst & Young LLP

One Commerce Square

2005 Market Street, Suite 700

Philadelphia, PA 19103

This information must be preceded or accompanied by a current prospectus for the Fund described.

VON-SA-003-0100

**Item 8.** **Changes in and Disagreements with Accountants for Open-End Management Investment Companies.**

Included under Item 7.

**Item 9.** **Proxy Disclosures for Open-End Management Investment Companies.**

Included under Item 7.

**Item 10.** **Remuneration Paid to Directors, Officers, and Others of Open-End Management Investment Companies.**

Included under Item 7.

**Item 11.** **Statement Regarding Basis for Approval of Investment Advisory Contract.**

Included under Item 7.

**Item 12.** **Disclosure of Proxy Voting Policies and Procedures for Closed-End Management Investment Companies.**

Not applicable to open-end management investment companies.

**Item 13.** **Portfolio Managers of Closed-End Management Investment Companies.**

Not applicable to open-end management investment companies.

**Item 14.** **Purchases of Equity Securities by Closed-End Management Company and Affiliated Purchasers.**

Not applicable to open-end management investment companies.

**Item 15.** **Submission of Matters to a Vote of Security Holders.**

There have been no changes to the procedures by which shareholders may recommend nominees to the Registrant's Board of Trustees during the period covered by this report.

**Item 16.** **Controls and Procedures.**

**(**a) The
 Registrant's principal executive and principal financial officers, or persons performing similar functions, have concluded that the Registrant's

disclosure controls and procedures, as defined in Rule 30a-3(c) under the Act (17 CFR § 270.30a-3(c)), as of a date within 90 days of the filing date of the report, are effective based on the evaluation of these controls and procedures required by Rule 30a-3(b) under the Act (17 CFR § 270.30a-3(b)) and Rule 13a-15(b) or Rule 15d-15(b) under the Securities Exchange Act of 1934 (17 CFR § 240.13a-15(b) or § 240.15d-15(b)).

**(**b) There
 has been no change in the Registrant's internal control over financial reporting (as defined in Rule 30a-3(d) under the Act (17 CFR §

270.30a-3(d)) that occurred during the period covered by this report that has materially affected, or is reasonably likely to materially affect, the Registrant's internal control over financial reporting.

**Item 17.** **Disclosure of Securities Lending Activities for Closed-End Management Investment Companies.**

Not applicable to open-end management investment companies.

**Item 18.** **Recovery of Erroneously Awarded Compensation.**

**(**a) Not
 applicable.

**(**b) Not
 applicable.

**Item 19.** **Exhibits.**

---

| | |
|:---|:---|
| **(**a)(1) | Not applicable. |

---

---

| | |
|:---|:---|
| **(**a)(2) | Not applicable. |

---

[(a)(3)](fp0095150-3_ex99cert.htm) [A separate certification for the principal executive officer and the principal financial officer of the Registrant, as required by Rule 30a-2(a) under the](fp0095150-3_ex99cert.htm)

[Act (17 CFR § 270.30a-2(a)), are filed herewith.](fp0095150-3_ex99cert.htm)

---

| | |
|:---|:---|
| **(**a)(4) | Not applicable. |

---

---

| | |
|:---|:---|
| **(**a)(5) | Not applicable. |

---

[(b)](fp0095150-3_ex99906cert.htm) [Officer certifications, as required by Rule 30a-2(b) under the Act (17 CFR § 270.30a-2(b)), also accompany this filing as exhibits.](fp0095150-3_ex99906cert.htm)

**SIGNATURES**

Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, the Registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

---

| | | |
|:---|:---|:---|
| (Registrant) | (Registrant) | The Advisors' Inner Circle Fund II |
| By | (Signature and Title) | /s/ Michael Beattie |
|  |  | Michael Beattie |
|  |  | Principal Executive Officer |
| Date: | September 4, 2025 |  |

---

Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, this report has been signed below by the following persons on behalf of the Registrant and in the capacities and on the dates indicated.

---

| | | |
|:---|:---|:---|
| By | (Signature and Title) | /s/ Michael Beattie |
|  |  | Michael Beattie |
|  |  | Principal Executive Officer |
| Date: | September 4, 2025 |  |
| By | (Signature and Title) | /s/ Andrew Metzger |
|  |  | Andrew Metzger |
|  |  | Principal Financial Officer |
| Date: | September 4, 2025 |  |

---

## Ex-99.Cert

**CERTIFICATION**

**Pursuant to Rule 30a-2(a) under the Investment Company Act of 1940**

**and Section 302 of the Sarbanes-Oxley Act of 2002**

I, Michael Beattie, certify that:

1. I
 have reviewed this report on Form N-CSRS of The Advisors' Inner Circle Fund II (the "Registrant");

2. Based
 on my knowledge, this report does not contain any untrue statement of a material fact
 or omit to state a material fact necessary to make the statements made, in light of the
 circumstances under which such statements were made, not misleading with respect to the
 period covered by this report;

3. Based
 on my knowledge, the financial statements, and other financial information, included
 in this report fairly present in all material respects the financial condition, results
 of operations, changes in net assets, and cash flows (if the financial statements are
 required to include a statement of cash flows) of the Registrant as of, and for, the
 periods presented in this report;

4. The
 Registrant's other certifying officer(s), if any, and I are responsible for establishing
 and maintaining disclosure controls and procedures (as defined in Rule 30a-3(c) under
 the Investment Company Act of 1940) and internal control over financial reporting (as
 defined in Rule 30a-3(d) under the Investment Company Act of 1940) for the Registrant
 and have:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) Designed
 such disclosure controls and procedures, or caused such disclosure controls and procedures
 to be designed under our supervision, to ensure that material information relating to
 the Registrant, including its consolidated subsidiaries, is made known to us by others
 within those entities, particularly during the period in which this report is being prepared;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) Designed
 such internal control over financial reporting, or caused such internal control over
 financial reporting to be designed under our supervision, to provide reasonable assurance
 regarding the reliability of financial reporting and the preparation of financial statements
 for external purposes in accordance with generally accepted accounting principles;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) Evaluated
 the effectiveness of the Registrant's disclosure controls and procedures and presented
 in this report our conclusions about the effectiveness of the disclosure controls and
 procedures, as of a date within 90 days prior to the filing date of this report, based
 on such evaluation; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) Disclosed
 in this report any change in the Registrant's internal control over financial reporting
 that occurred during the period covered by this report that has materially affected,
 or is reasonably likely to materially affect, the Registrant's internal control
 over financial reporting; and

5. The
 Registrant's other certifying officer(s) and I have disclosed to the Registrant's
 auditors and the audit committee of the Registrant's board of directors (or persons
 performing the equivalent functions):

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) All
 significant deficiencies and material weaknesses in the design or operation of internal
 control over financial reporting which are reasonably likely to adversely affect the
 Registrant's ability to record, process, summarize, and report financial information;
 and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) Any
 fraud, whether or not material, that involves management or other employees who have
 a significant role in the Registrant's internal control over financial reporting.

---

| |
|:---|
| Date: September 4, 2025 |
| /s/ Michael Beattie |
| Michael Beattie |
| Principal Executive Officer |

---

**CERTIFICATION**

**Pursuant to Rule 30a-2(a) under the Investment Company Act of 1940**

**and Section 302 of the Sarbanes-Oxley Act of 2002**

I, Andrew Metzger, certify that:

1. I
 have reviewed this report on Form N-CSRS of The Advisors' Inner Circle Fund II (the "Registrant");

2. Based
 on my knowledge, this report does not contain any untrue statement of a material fact
 or omit to state a material fact necessary to make the statements made, in light of the
 circumstances under which such statements were made, not misleading with respect to the
 period covered by this report;

3. Based
 on my knowledge, the financial statements, and other financial information, included
 in this report fairly present in all material respects the financial condition, results
 of operations, changes in net assets, and cash flows (if the financial statements are
 required to include a statement of cash flows) of the Registrant as of, and for, the
 periods presented in this report;

4. The
 Registrant's other certifying officer(s), if any, and I are responsible for establishing
 and maintaining disclosure controls and procedures (as defined in Rule 30a-3(c) under
 the Investment Company Act of 1940) and internal control over financial reporting (as
 defined in Rule 30a-3(d) under the Investment Company Act of 1940) for the Registrant
 and have:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) Designed
 such disclosure controls and procedures, or caused such disclosure controls and procedures
 to be designed under our supervision, to ensure that material information relating to
 the Registrant, including its consolidated subsidiaries, is made known to us by others
 within those entities, particularly during the period in which this report is being prepared;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) Designed
 such internal control over financial reporting, or caused such internal control over
 financial reporting to be designed under our supervision, to provide reasonable assurance
 regarding the reliability of financial reporting and the preparation of financial statements
 for external purposes in accordance with generally accepted accounting principles;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) Evaluated
 the effectiveness of the Registrant's disclosure controls and procedures and presented
 in this report our conclusions about the effectiveness of the disclosure controls and
 procedures, as of a date within 90 days prior to the filing date of this report, based
 on such evaluation; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) Disclosed
 in this report any change in the Registrant's internal control over financial reporting
 that occurred during the period covered by this report that has materially affected,
 or is reasonably likely to materially affect, the Registrant's internal control
 over financial reporting; and

5. The
 Registrant's other certifying officer(s) and I have disclosed to the Registrant's
 auditors and the audit committee of the Registrant's board of directors (or persons
 performing the equivalent functions):

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) All
 significant deficiencies and material weaknesses in the design or operation of internal
 control over financial reporting which are reasonably likely to adversely affect the
 Registrant's ability to record, process, summarize, and report financial information;
 and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) Any
 fraud, whether or not material, that involves management or other employees who have
 a significant role in the Registrant's internal control over financial reporting.

---

| |
|:---|
| Date: September 4, 2025 |
| /s/ Andrew Metzger |
| Andrew Metzger |
| Principal Financial Officer |

---

## Exhibit 99.906

**CERTIFICATION**

**Pursuant to 18 U.S.C. Section 1350, As Adopted Pursuant to Section 906**

**of the Sarbanes-Oxley Act of 2002**

The undersigned, Michael Beattie, the Principal Executive Officer of The Advisors' Inner Circle Fund II (the "Fund"), with respect to the Fund's Form N-CSRS for the period ended June 30, 2025, as filed with the Securities and Exchange Commission, hereby certifies, pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002, that, to the best of my knowledge:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1. such
 Form N-CSRS fully complies with the requirements of Section 13(a) or 15(d) of the Securities
 Exchange Act of 1934; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2. the
 information contained in such Form N-CSRS fairly presents, in all material respects,
 the financial condition and results of operations of the Fund.

---

| | |
|:---|:---|
| Dated: September 4, 2025 |  |
|  | /s/ Michael Beattie |
|  | Michael Beattie |
|  | Principal Executive Officer |

---

**CERTIFICATION**

**Pursuant to 18 U.S.C. Section 1350, As Adopted Pursuant to Section 906**

**of the Sarbanes-Oxley Act of 2002**

The undersigned, Andrew Metzger the Principal Financial Officer of The Advisors' Inner Circle Fund II (the "Fund"), with respect to the Fund's Form N-CSRS for the period ended June 30, 2025, as filed with the Securities and Exchange Commission, hereby certifies, pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002, that, to the best of my knowledge:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1. such
 Form N-CSRS fully complies with the requirements of Section 13(a) or 15(d) of the Securities
 Exchange Act of 1934; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2. the
 information contained in such Form N-CSRS fairly presents, in all material respects,
 the financial condition and results of operations of the Fund.

---

| | |
|:---|:---|
| Dated: September 4, 2025 |  |
|  | /s/ Andrew Metzger |
|  | Andrew Metzger |
|  | Principal Financial Officer |

---