# EDGAR Filing Document

**Accession Number:** 0000890540
**File Stem:** 0002048251-26-004475
**Filing Date:** 2026-5
**Character Count:** 45731
**Document Hash:** 92a3a2798e0f521b63a93b614b0e5f13
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0002048251-26-004475.hdr.sgml**: 20260529

**ACCESSION NUMBER**: 0002048251-26-004475

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 3

**CONFORMED PERIOD OF REPORT**: 20260331

**FILED AS OF DATE**: 20260529

**DATE AS OF CHANGE**: 20260529

**PERIOD START**: 20261231

**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:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-07102
- **FILM NUMBER:** 261041591

**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

### CHAMPLAIN MID CAP FUND (Series ID: S000022606)

| Class ID   | Class Name           | Ticker Symbol   |
|:---|:---|:---|
| C000065363 | ADVISOR SHARES       | CIPMX           |
| C000096284 | INSTITUTIONAL SHARES | CIPIX           |

## Nport-Ex

---

| | |
|:---|:---|
| **THE ADVISORS' INNER CIRCLE FUND II** | **CHAMPLAIN SMALL COMPANY FUND** |
|  | **MARCH 31, 2026 (Unaudited)** |

---

**SCHEDULE OF INVESTMENTS**

**COMMON STOCK** — **96.0%#**

---

| | | |
|:---|:---|:---|
|  | **Shares** | **Value** |
| **CONSUMER DISCRETIONARY — 9.7%** |  |  |
| &nbsp;&nbsp;&nbsp;Brinker International \* | 73000 | $10422210 |
| &nbsp;&nbsp;&nbsp;Cava Group \* | 180000 | 14562000 |
| &nbsp;&nbsp;&nbsp;First Watch Restaurant Group \* | 288000 | 3018240 |
| &nbsp;&nbsp;&nbsp;Floor & Decor Holdings, Cl A \* | 250000 | 12700000 |
| &nbsp;&nbsp;&nbsp;OneSpaWorld Holdings | 358000 | 8216100 |
| &nbsp;&nbsp;&nbsp;Planet Fitness, Cl A \* | 53000 | 3942140 |
| &nbsp;&nbsp;&nbsp;Shake Shack, Cl A \* | 76000 | 6723720 |
| &nbsp;&nbsp;&nbsp;Valvoline \* | 470000 | 15829600 |
| &nbsp;&nbsp;&nbsp;Wingstop | 68000 | 10537960 |
| &nbsp;&nbsp;&nbsp;Wyndham Hotels & Resorts | 173000 | 14052790 |
|  |  | 100004760 |
| **CONSUMER STAPLES — 3.7%** |  |  |
| &nbsp;&nbsp;&nbsp;Celsius Holdings \* | 436890 | 15500857 |
| &nbsp;&nbsp;&nbsp;elf Beauty \* | 159000 | 9636990 |
| &nbsp;&nbsp;&nbsp;Sprouts Farmers Market \* | 167085 | 12887266 |
|  |  | 38025113 |
| **ENERGY — 3.5%** |  |  |
| &nbsp;&nbsp;&nbsp;Cactus, Cl A | 300000 | 14211000 |
| &nbsp;&nbsp;&nbsp;Matador Resources | 348000 | 21986640 |
|  |  | 36197640 |
| **FINANCIALS — 22.0%** |  |  |
| &nbsp;&nbsp;&nbsp;AMERISAFE | 179000 | 5966070 |
| &nbsp;&nbsp;&nbsp;Baldwin Insurance Group, Cl A \* | 472000 | 10355680 |
| &nbsp;&nbsp;&nbsp;BancFirst | 104000 | 11284000 |
| &nbsp;&nbsp;&nbsp;Central BanCo, Cl A | 658000 | 15759100 |
| &nbsp;&nbsp;&nbsp;Commerce Bancshares | 264000 | 12988800 |
| &nbsp;&nbsp;&nbsp;Cullen/Frost Bankers | 111000 | 15215880 |
| &nbsp;&nbsp;&nbsp;First Financial Bankshares | 532000 | 15667400 |
| &nbsp;&nbsp;&nbsp;German American Bancorp | 301000 | 12578790 |
| &nbsp;&nbsp;&nbsp;Hamilton Lane, Cl A | 131000 | 13021400 |
| &nbsp;&nbsp;&nbsp;MarketAxess Holdings | 96000 | 15838080 |
| &nbsp;&nbsp;&nbsp;Nicolet Bankshares | 58000 | 8619960 |
| &nbsp;&nbsp;&nbsp;Palomar Holdings \* | 148000 | 17686000 |

---

---

| | |
|:---|:---|
| 1 | ![](fp0098893-1_01.jpg) |

---

---

| | |
|:---|:---|
| **THE ADVISORS' INNER CIRCLE FUND II** | **CHAMPLAIN SMALL COMPANY FUND** |
|  | **MARCH 31, 2026 (Unaudited)** |

---

**COMMON STOCK — continued**

---

| | | |
|:---|:---|:---|
|  | **Shares** | **Value** |
| **FINANCIALS — continued** |  |  |
| &nbsp;&nbsp;&nbsp;PJT Partners, Cl A | 98000 | $13692560 |
| &nbsp;&nbsp;&nbsp;RLI | 209000 | 11921360 |
| &nbsp;&nbsp;&nbsp;Skyward Specialty Insurance Group \* | 346000 | 15113280 |
| &nbsp;&nbsp;&nbsp;Stock Yards Bancorp | 155000 | 10274950 |
| &nbsp;&nbsp;&nbsp;StoneX Group \* | 247500 | 19960875 |
|  |  | 225944185 |
| **HEALTH CARE — 15.0%** |  |  |
| &nbsp;&nbsp;&nbsp;AtriCure \* | 442000 | 12610260 |
| &nbsp;&nbsp;&nbsp;Bruker | 275000 | 9933000 |
| &nbsp;&nbsp;&nbsp;Caris Life Sciences \* | 556000 | 9941280 |
| &nbsp;&nbsp;&nbsp;Glaukos \* | 145000 | 15610700 |
| &nbsp;&nbsp;&nbsp;Globus Medical, Cl A \* | 163000 | 14044080 |
| &nbsp;&nbsp;&nbsp;HeartFlow \* | 280000 | 6812400 |
| &nbsp;&nbsp;&nbsp;Inspire Medical Systems \* | 75000 | 3868500 |
| &nbsp;&nbsp;&nbsp;Masimo \* | 50000 | 8893500 |
| &nbsp;&nbsp;&nbsp;Merit Medical Systems \* | 131000 | 9029830 |
| &nbsp;&nbsp;&nbsp;Penumbra \* | 62000 | 20358940 |
| &nbsp;&nbsp;&nbsp;PROCEPT BioRobotics \* | 517000 | 12930170 |
| &nbsp;&nbsp;&nbsp;Repligen \* | 82000 | 9661240 |
| &nbsp;&nbsp;&nbsp;SI-BONE \* | 416000 | 5254080 |
| &nbsp;&nbsp;&nbsp;Veracyte \* | 131000 | 4219510 |
| &nbsp;&nbsp;&nbsp;Vericel \* | 347000 | 11162990 |
|  |  | 154330480 |
| **INDUSTRIALS — 25.3%** |  |  |
| &nbsp;&nbsp;&nbsp;AAON | 201000 | 16632750 |
| &nbsp;&nbsp;&nbsp;AeroVironment \* | 57000 | 10433850 |
| &nbsp;&nbsp;&nbsp;Bloom Energy, Cl A \* | 83000 | 11245670 |
| &nbsp;&nbsp;&nbsp;Brady, Cl A | 64000 | 5199360 |
| &nbsp;&nbsp;&nbsp;CSW Industrials | 74000 | 19282920 |
| &nbsp;&nbsp;&nbsp;Enerpac Tool Group, Cl A | 364000 | 13275080 |
| &nbsp;&nbsp;&nbsp;Esab | 195000 | 18848700 |
| &nbsp;&nbsp;&nbsp;JBT Marel | 71500 | 9142705 |
| &nbsp;&nbsp;&nbsp;Kadant | 59000 | 17248650 |
| &nbsp;&nbsp;&nbsp;Kratos Defense & Security Solutions \* | 101825 | 7179681 |

---

---

| | |
|:---|:---|
| 2 | ![](fp0098893-1_01.jpg) |

---

---

| | |
|:---|:---|
| **THE ADVISORS' INNER CIRCLE FUND II** | **CHAMPLAIN SMALL COMPANY FUND** |
|  | **MARCH 31, 2026 (Unaudited)** |

---

**COMMON STOCK — continued**

---

| | | |
|:---|:---|:---|
|  | **Shares** | **Value** |
| **INDUSTRIALS — continued** |  |  |
| &nbsp;&nbsp;&nbsp;Modine Manufacturing \* | 54000 | $11702340 |
| &nbsp;&nbsp;&nbsp;MSA Safety | 115500 | 18936225 |
| &nbsp;&nbsp;&nbsp;RB Global | 168000 | 16102800 |
| &nbsp;&nbsp;&nbsp;RBC Bearings \* | 16000 | 8689920 |
| &nbsp;&nbsp;&nbsp;Simpson Manufacturing | 115000 | 19736300 |
| &nbsp;&nbsp;&nbsp;SPX Technologies \* | 104000 | 20793760 |
| &nbsp;&nbsp;&nbsp;Standex International | 81000 | 20643660 |
| &nbsp;&nbsp;&nbsp;Transcat \* | 98000 | 7198100 |
| &nbsp;&nbsp;&nbsp;Watts Water Technologies, Cl A | 24500 | 7112105 |
|  |  | 259404576 |
| **INFORMATION TECHNOLOGY — 14.9%** |  |  |
| &nbsp;&nbsp;&nbsp;Alkami Technology \* | 659000 | 10326530 |
| &nbsp;&nbsp;&nbsp;Braze, Cl A \* | 559000 | 13197990 |
| &nbsp;&nbsp;&nbsp;Commvault Systems \* | 172000 | 13397080 |
| &nbsp;&nbsp;&nbsp;Credo Technology Group Holding \* | 52000 | 4881240 |
| &nbsp;&nbsp;&nbsp;Everpure, Cl A \* | 291000 | 17180640 |
| &nbsp;&nbsp;&nbsp;Gitlab, Cl A \* | 428000 | 9261920 |
| &nbsp;&nbsp;&nbsp;Novanta \* | 177000 | 20905470 |
| &nbsp;&nbsp;&nbsp;Nutanix, Cl A \* | 513980 | 19536380 |
| &nbsp;&nbsp;&nbsp;Ralliant | 283000 | 11769970 |
| &nbsp;&nbsp;&nbsp;Rambus \* | 162000 | 13936860 |
| &nbsp;&nbsp;&nbsp;SentinelOne, Cl A \* | 1027000 | 13227760 |
| &nbsp;&nbsp;&nbsp;SiTime \* | 15000 | 5180250 |
|  |  | 152802090 |
| **MATERIALS — 1.9%** |  |  |
| &nbsp;&nbsp;&nbsp;Sensient Technologies | 119000 | 10286360 |
| &nbsp;&nbsp;&nbsp;Solstice Advanced Materials | 124030 | 9446125 |
|  |  | 19732485 |
| &nbsp;&nbsp;&nbsp;TOTAL COMMON STOCK |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(Cost $926,437,707) |  | 986441329 |

---

---

| | |
|:---|:---|
| 3 | ![](fp0098893-1_01.jpg) |

---

---

| | |
|:---|:---|
| **THE ADVISORS' INNER CIRCLE FUND II** | **CHAMPLAIN SMALL COMPANY FUND** |
|  | **MARCH 31, 2026 (Unaudited)** |

---

**SHORT-TERM INVESTMENTS — 2.3%**

---

| | | |
|:---|:---|:---|
|  | **Shares** | **Value** |
| &nbsp;&nbsp;&nbsp;Fidelity Investments - Money Market Treasury Only, Cl I, 3.530% | 20000000 | $20000000 |
| &nbsp;&nbsp;&nbsp;Goldman Sachs Financial Square Treasury Instruments Fund, Institutional Shares, 3.580% | 3717814 | 3717814 |
| &nbsp;&nbsp;&nbsp;TOTAL SHORT-TERM INVESTMENTS |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(Cost $23,717,814) |  | 23717814 |
| &nbsp;&nbsp;&nbsp;TOTAL INVESTMENTS — 98.3% |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(Cost $950,155,521) |  | $1010159143 |

---

*Percentages are based on Net Assets of $1,027,152,124.*

 

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

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

*\*\** *Rate reported is the 7-day effective yield as of March 31, 2026.*

*Cl — Class*

For information on the Fund's policy regarding valuation of investments and other significant accounting policies, please refer to the Fund's most recent annual or semi-annual financial statements.

CSC-QH-001-4300

---

| | |
|:---|:---|
| 4 | ![](fp0098893-1_01.jpg) |

---

---

| | |
|:---|:---|
| **THE ADVISORS' INNER CIRCLE FUND II** | **CHAMPLAIN MID CAP FUND** |
|  | **MARCH 31, 2026 (Unaudited)** |

---

**SCHEDULE OF INVESTMENTS**

**COMMON STOCK** — **97.6%#**

---

| | | |
|:---|:---|:---|
|  | **Shares** | **Value** |
| **CONSUMER DISCRETIONARY — 10.3%** |  |  |
| &nbsp;&nbsp;&nbsp;Cava Group \* | 371000 | $30013900 |
| &nbsp;&nbsp;&nbsp;Chewy, Cl A \* | 965000 | 26055000 |
| &nbsp;&nbsp;&nbsp;Domino's Pizza | 104000 | 37314160 |
| &nbsp;&nbsp;&nbsp;Floor & Decor Holdings, Cl A \* | 639000 | 32461200 |
| &nbsp;&nbsp;&nbsp;Planet Fitness, Cl A \* | 107000 | 7958660 |
| &nbsp;&nbsp;&nbsp;Tractor Supply | 720000 | 32616000 |
| &nbsp;&nbsp;&nbsp;Wingstop | 145000 | 22470650 |
| &nbsp;&nbsp;&nbsp;Wyndham Hotels & Resorts | 368000 | 29892640 |
|  |  | 218782210 |
| **CONSUMER STAPLES — 3.0%** |  |  |
| &nbsp;&nbsp;&nbsp;Celsius Holdings \* | 554575 | 19676321 |
| &nbsp;&nbsp;&nbsp;elf Beauty \* | 349500 | 21183195 |
| &nbsp;&nbsp;&nbsp;Sprouts Farmers Market \* | 313840 | 24206479 |
|  |  | 65065995 |
| **ENERGY — 4.7%** |  |  |
| &nbsp;&nbsp;&nbsp;EOG Resources | 391000 | 56526870 |
| &nbsp;&nbsp;&nbsp;Texas Pacific Land | 92000 | 43659520 |
|  |  | 100186390 |
| **FINANCIALS — 18.0%** |  |  |
| &nbsp;&nbsp;&nbsp;Arch Capital Group \* | 464000 | 44539360 |
| &nbsp;&nbsp;&nbsp;Brown & Brown | 356000 | 23214760 |
| &nbsp;&nbsp;&nbsp;Commerce Bancshares | 626000 | 30799200 |
| &nbsp;&nbsp;&nbsp;Cullen/Frost Bankers | 227000 | 31117160 |
| &nbsp;&nbsp;&nbsp;Hamilton Lane, Cl A | 291000 | 28925400 |
| &nbsp;&nbsp;&nbsp;Houlihan Lokey, Cl A | 263000 | 37772060 |
| &nbsp;&nbsp;&nbsp;Kinsale Capital Group | 78000 | 26649480 |
| &nbsp;&nbsp;&nbsp;LPL Financial Holdings | 38000 | 11431540 |
| &nbsp;&nbsp;&nbsp;MSCI, Cl A | 55500 | 29915055 |
| &nbsp;&nbsp;&nbsp;Ryan Specialty Holdings, Cl A | 830000 | 28004200 |
| &nbsp;&nbsp;&nbsp;Toast, Cl A \* | 1144000 | 30327440 |
| &nbsp;&nbsp;&nbsp;Tradeweb Markets, Cl A | 527000 | 62006820 |
|  |  | 384702475 |

---

---

| | |
|:---|:---|
| 5 | ![](fp0098893-1_01.jpg) |

---

---

| | |
|:---|:---|
| **THE ADVISORS' INNER CIRCLE FUND II** | **CHAMPLAIN MID CAP FUND** |
|  | **MARCH 31, 2026 (Unaudited)** |

---

**COMMON STOCK — continued**

---

| | | |
|:---|:---|:---|
|  | **Shares** | **Value** |
| **HEALTH CARE — 15.9%** |  |  |
| &nbsp;&nbsp;&nbsp;Agilent Technologies | 225000 | $25645500 |
| &nbsp;&nbsp;&nbsp;Bio-Techne | 521000 | 27227460 |
| &nbsp;&nbsp;&nbsp;Cooper \* | 585000 | 41827500 |
| &nbsp;&nbsp;&nbsp;Edwards Lifesciences \* | 381000 | 30510480 |
| &nbsp;&nbsp;&nbsp;Mettler-Toledo International \* | 25500 | 32160600 |
| &nbsp;&nbsp;&nbsp;Penumbra \* | 118500 | 38911845 |
| &nbsp;&nbsp;&nbsp;Repligen \* | 191000 | 22503620 |
| &nbsp;&nbsp;&nbsp;STERIS PLC | 104000 | 22997520 |
| &nbsp;&nbsp;&nbsp;Veeva Systems, Cl A \* | 270500 | 47516030 |
| &nbsp;&nbsp;&nbsp;Waters \* | 102000 | 30375600 |
| &nbsp;&nbsp;&nbsp;West Pharmaceutical Services | 76000 | 19048640 |
|  |  | 338724795 |
| **INDUSTRIALS — 25.1%** |  |  |
| &nbsp;&nbsp;&nbsp;AAON | 412000 | 34093000 |
| &nbsp;&nbsp;&nbsp;AeroVironment \* | 67000 | 12264350 |
| &nbsp;&nbsp;&nbsp;AMETEK | 157000 | 33654520 |
| &nbsp;&nbsp;&nbsp;Axon Enterprise \* | 69000 | 29303610 |
| &nbsp;&nbsp;&nbsp;Bloom Energy, Cl A \* | 89000 | 12058610 |
| &nbsp;&nbsp;&nbsp;Carlisle | 114000 | 38032680 |
| &nbsp;&nbsp;&nbsp;Esab | 317000 | 30641220 |
| &nbsp;&nbsp;&nbsp;Fastenal | 1035000 | 48024000 |
| &nbsp;&nbsp;&nbsp;Graco | 277000 | 23448050 |
| &nbsp;&nbsp;&nbsp;IDEX | 227000 | 43027850 |
| &nbsp;&nbsp;&nbsp;Karman Holdings \* | 290000 | 23214500 |
| &nbsp;&nbsp;&nbsp;Lincoln Electric Holdings | 80000 | 19926400 |
| &nbsp;&nbsp;&nbsp;MSA Safety | 141000 | 23116950 |
| &nbsp;&nbsp;&nbsp;Nordson | 100000 | 26606000 |
| &nbsp;&nbsp;&nbsp;nVent Electric PLC | 106000 | 12537680 |
| &nbsp;&nbsp;&nbsp;Veralto | 263000 | 23254460 |
| &nbsp;&nbsp;&nbsp;Waste Connections | 203000 | 32975320 |
| &nbsp;&nbsp;&nbsp;WW Grainger | 35000 | 38178350 |
| &nbsp;&nbsp;&nbsp;Xylem | 260000 | 31070000 |
|  |  | 535427550 |

---

---

| | |
|:---|:---|
| 6 | ![](fp0098893-1_01.jpg) |

---

---

| | |
|:---|:---|
| **THE ADVISORS' INNER CIRCLE FUND II** | **CHAMPLAIN MID CAP FUND** |
|  | **MARCH 31, 2026 (Unaudited)** |

---

**COMMON STOCK — continued**

---

| | | |
|:---|:---|:---|
|  | **Shares** | **Value** |
| **INFORMATION TECHNOLOGY — 20.6%** |  |  |
| &nbsp;&nbsp;&nbsp;Akamai Technologies \* | 400000 | $45940000 |
| &nbsp;&nbsp;&nbsp;Astera Labs \* | 115000 | 12604000 |
| &nbsp;&nbsp;&nbsp;Autodesk \* | 128390 | 30736566 |
| &nbsp;&nbsp;&nbsp;Credo Technology Group Holding \* | 123000 | 11546010 |
| &nbsp;&nbsp;&nbsp;Datadog, Cl A \* | 266000 | 31401300 |
| &nbsp;&nbsp;&nbsp;Everpure, Cl A \* | 518410 | 30606926 |
| &nbsp;&nbsp;&nbsp;Gitlab, Cl A \* | 1023000 | 22137720 |
| &nbsp;&nbsp;&nbsp;MongoDB, Cl A \* | 80000 | 19581600 |
| &nbsp;&nbsp;&nbsp;Nutanix, Cl A \* | 1035000 | 39340350 |
| &nbsp;&nbsp;&nbsp;Okta, Cl A \* | 481000 | 37859510 |
| &nbsp;&nbsp;&nbsp;Palo Alto Networks \* | 138000 | 22124160 |
| &nbsp;&nbsp;&nbsp;Procore Technologies \* | 530000 | 30210000 |
| &nbsp;&nbsp;&nbsp;Rubrik, Cl A \* | 473000 | 23162810 |
| &nbsp;&nbsp;&nbsp;Synopsys \* | 145000 | 57489600 |
| &nbsp;&nbsp;&nbsp;Zscaler \* | 167505 | 23499277 |
|  |  | 438239829 |
| &nbsp;&nbsp;&nbsp;TOTAL COMMON STOCK |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(Cost $1,875,816,898) |  | 2081129244 |
| **SHORT-TERM INVESTMENTS — 2.3%** | **SHORT-TERM INVESTMENTS — 2.3%** | **SHORT-TERM INVESTMENTS — 2.3%** |
| &nbsp;&nbsp;&nbsp;Fidelity Investments - Money Market Treasury Only, Cl I, 3.530% | 20000000 | 20000000 |
| &nbsp;&nbsp;&nbsp;Goldman Sachs Financial Square Treasury Instruments Fund, Institutional Shares, 3.580% | 28207138 | 28207138 |
| &nbsp;&nbsp;&nbsp;TOTAL SHORT-TERM INVESTMENTS |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(Cost $48,207,138) |  | 48207138 |
| &nbsp;&nbsp;&nbsp;TOTAL INVESTMENTS — 99.9% |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(Cost $1,924,024,036) |  | $2129336382 |

---

Percentages are based on Net Assets of $2,131,005,511.

# More narrow industries are utilized for compliance purposes, whereas broad sectors are utilized for reporting purposes.

\* Non-income producing security.

---

| | |
|:---|:---|
| 7 | ![](fp0098893-1_01.jpg) |

---

---

| | |
|:---|:---|
| **THE ADVISORS' INNER CIRCLE FUND II** | **CHAMPLAIN MID CAP FUND** |
|  | **MARCH 31, 2026 (Unaudited)** |

---

*\*\** *Rate reported is the 7-day effective yield as of March 31, 2026.*

 

*Cl — Class*

*PLC — Public Limited Company*

For information on the Fund's policy regarding valuation of investments and other significant accounting policies, please refer to the Fund's most recent annual or semi-annual financial statements.

CSC-QH-002-3600

---

| | |
|:---|:---|
| 8 | ![](fp0098893-1_01.jpg) |

---

---

| | |
|:---|:---|
| **THE ADVISORS' INNER CIRCLE FUND II** | **CHAMPLAIN STRATEGIC FOCUS FUND** |
|  | **MARCH 31, 2026 (Unaudited)** |

---

**SCHEDULE OF INVESTMENTS**

**COMMON STOCK** — **98.5%#**

---

| | | |
|:---|:---|:---|
|  | **Shares** | **Value** |
| **CONSUMER DISCRETIONARY — 1.4%** |  |  |
| &nbsp;&nbsp;&nbsp;Wingstop | 320 | $49590 |
| **CONSUMER STAPLES — 1.1%** |  |  |
| &nbsp;&nbsp;&nbsp;elf Beauty \* | 655 | 39699 |
| **ENERGY — 5.8%** |  |  |
| &nbsp;&nbsp;&nbsp;EOG Resources | 525 | 75899 |
| &nbsp;&nbsp;&nbsp;Texas Pacific Land | 272 | 129081 |
|  |  | 204980 |
| **FINANCIALS — 10.5%** |  |  |
| &nbsp;&nbsp;&nbsp;MSCI, Cl A | 225 | 121278 |
| &nbsp;&nbsp;&nbsp;Ryan Specialty Holdings, Cl A | 3615 | 121970 |
| &nbsp;&nbsp;&nbsp;Tradeweb Markets, Cl A | 1120 | 131779 |
|  |  | 375027 |
| **HEALTH CARE — 11.9%** |  |  |
| &nbsp;&nbsp;&nbsp;Mettler-Toledo International \* | 100 | 126120 |
| &nbsp;&nbsp;&nbsp;Veeva Systems, Cl A \* | 1185 | 208157 |
| &nbsp;&nbsp;&nbsp;Waters \* | 300 | 89340 |
|  |  | 423617 |
| **INDUSTRIALS — 38.9%** |  |  |
| &nbsp;&nbsp;&nbsp;AMETEK | 725 | 155411 |
| &nbsp;&nbsp;&nbsp;Axon Enterprise \* | 230 | 97679 |
| &nbsp;&nbsp;&nbsp;Carlisle | 330 | 110095 |
| &nbsp;&nbsp;&nbsp;Esab | 1660 | 160456 |
| &nbsp;&nbsp;&nbsp;Fastenal | 4550 | 211120 |
| &nbsp;&nbsp;&nbsp;IDEX | 1250 | 236937 |
| &nbsp;&nbsp;&nbsp;Nordson | 665 | 176930 |
| &nbsp;&nbsp;&nbsp;Veralto | 1425 | 125998 |
| &nbsp;&nbsp;&nbsp;Waste Connections | 670 | 108835 |
|  |  | 1383461 |
| **INFORMATION TECHNOLOGY — 28.9%** |  |  |
| &nbsp;&nbsp;&nbsp;Autodesk \* | 440 | 105336 |

---

---

| | |
|:---|:---|
| 9 | ![](fp0098893-1_01.jpg) |

---

---

| | |
|:---|:---|
| **THE ADVISORS' INNER CIRCLE FUND II** | **CHAMPLAIN STRATEGIC FOCUS FUND** |
|  | **MARCH 31, 2026 (Unaudited)** |

---

**COMMON STOCK — continued**

---

| | | |
|:---|:---|:---|
|  | **Shares** | **Value** |
| **INFORMATION TECHNOLOGY — continued** |  |  |
| &nbsp;&nbsp;&nbsp;Datadog, Cl A \* | 625 | $73781 |
| &nbsp;&nbsp;&nbsp;Everpure, Cl A \* | 2125 | 125460 |
| &nbsp;&nbsp;&nbsp;MongoDB, Cl A \* | 415 | 101580 |
| &nbsp;&nbsp;&nbsp;Nutanix, Cl A \* | 2850 | 108328 |
| &nbsp;&nbsp;&nbsp;Okta, Cl A \* | 1350 | 106258 |
| &nbsp;&nbsp;&nbsp;ServiceNow \* | 950 | 99323 |
| &nbsp;&nbsp;&nbsp;Synopsys \* | 500 | 198240 |
| &nbsp;&nbsp;&nbsp;Zscaler \* | 775 | 108725 |
|  |  | 1027031 |
| &nbsp;&nbsp;&nbsp;TOTAL COMMON STOCK |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(Cost $3,675,753) |  | 3503405 |
| **SHORT-TERM INVESTMENT — 1.4%** | **SHORT-TERM INVESTMENT — 1.4%** | **SHORT-TERM INVESTMENT — 1.4%** |
| &nbsp;&nbsp;&nbsp;Fidelity Investments - Money Market Treasury Only, Cl I, 3.530% | 49450 | 49450 |
| &nbsp;&nbsp;&nbsp;TOTAL CASH EQUIVALENT |  |  |
| &nbsp;&nbsp;&nbsp;(Cost $49,450) |  | 49450 |
| &nbsp;&nbsp;&nbsp;TOTAL INVESTMENTS — 99.9% |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(Cost $3,725,203) |  | $3552855 |

---

Percentages are based on Net Assets of $3,557,445.

# More narrow industries are utilized for compliance purposes, whereas broad sectors are utilized for reporting purposes.

\* Non-income producing security.

\*\* Rate reported is the 7-day effective yield as of March 31, 2026.

Cl — Class

For information on the Fund's policy regarding valuation of investments and other significant accounting policies, please refer to the Fund's most recent annual or semi-annual financial statements.

CSC-QH-003-0500

---

| | |
|:---|:---|
| 10 | ![](fp0098893-1_01.jpg) |

---

## 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 II

- **b. Investment Company Act file number:** 811-07102

- **c. CIK number of Registrant:** 0000890540

- **d. LEI of Registrant:** 549300OEHDTB2ALCAX69

- **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:** Champlain MidCap Fund

- **b. EDGAR series identifier (if any):** S000022606

- **c. LEI of Series:** 549300MORBF4R9GFJ039

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

- **a. Date of fiscal year-end:** 2026-12-31

- **b. Date as of which information is reported:** 2026-03-31

**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:** $2133617296.11

**Total Liabilities:** $2587224.29

**Net Assets:** $2131030071.82

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000096284 | -8.28%               | -0.19%               | -0.82%               |
| Class ID C000065363 | -8.28%               | -0.21%               | -0.87%               |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $19154805.60             | $-219541762.89                             |
| Month 2  | $71311284.41             | $-75453415.31                              |
| Month 3  | $67847092.59             | $-86215663.91                              |

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| TEXAS PACIFIC LAND CORPORATION        | TEXAS PACIFIC LAND CORP COMMON STOCK                    | CUSIP: 88262P102<br>LEI: N/A                  | Long             | EC               |  | US        |     92000 | NS      | $43659520.00  | 2.05%             |  |  |  | No            |                  1 | On Loan: No      |
| NVENT ELECTRIC PUBLIC LIMITED COMPANY | NVENT ELECTRIC PLC COMMON STOCK                         | CUSIP: G6700G107<br>LEI: N/A                  | Long             | EC               |  | US        |    106000 | NS      | $12537680.00  | 0.59%             |  |  |  | No            |                  1 | On Loan: No      |
| AGILENT TECHNOLOGIES, INC.            | AGILENT TECHNOLOGIES INC COMMON STOCK                   | CUSIP: 00846U101<br>LEI: QUIX8Y7A2WP0XRMW7G29 | Long             | EC               |  | US        |    225000 | NS      | $25645500.00  | 1.20%             |  |  |  | No            |                  1 | On Loan: No      |
| KINSALE CAPITAL GROUP, INC.           | KINSALE CAPITAL GROUP INC COMMON STOCK                  | CUSIP: 49714P108<br>LEI: 529900QTUQHNZ6HOA508 | Long             | EC               |  | US        |     78000 | NS      | $26649480.00  | 1.25%             |  |  |  | No            |                  1 | On Loan: No      |
| Credo Technology Group Holding Ltd    | CREDO TECHNOLOGY GROUP HOLDI COMMON STOCK               | CUSIP: G25457105<br>LEI: N/A                  | Long             | EC               |  | US        |    123000 | NS      | $11546010.00  | 0.54%             |  |  |  | No            |                  1 | On Loan: No      |
| SYNOPSYS, INC.                        | SYNOPSYS INC COMMON STOCK                               | CUSIP: 871607107<br>LEI: QG7T915N9S0NY5UKNE63 | Long             | EC               |  | US        |    145000 | NS      | $57489600.00  | 2.70%             |  |  |  | No            |                  1 | On Loan: No      |
| BLOOM ENERGY CORPORATION              | BLOOM ENERGY CORP- A COMMON STOCK                       | CUSIP: N/A<br>LEI: 549300XB5J9BFW5JXV97       | Long             | EC               |  | US        |     89000 | NS      | $12058610.00  | 0.57%             |  |  |  | No            |                  1 | On Loan: No      |
| RUBRIK, INC.                          | RUBRIK INC-A COMMON STOCK                               | CUSIP: 781154109<br>LEI: 254900TRGK2WTBYMYU27 | Long             | EC               |  | US        |    473000 | NS      | $23162810.00  | 1.09%             |  |  |  | No            |                  1 | On Loan: No      |
| GRACO INC.                            | GRACO INC COMMON STOCK                                  | CUSIP: 384109104<br>LEI: 4T5VJ4S81BRT6Q7GGT78 | Long             | EC               |  | US        |    277000 | NS      | $23448050.00  | 1.10%             |  |  |  | No            |                  1 | On Loan: No      |
| Astera Labs, Inc                      | ASTERA LABS INC COMMON STOCK                            | CUSIP: 04626A103<br>LEI: 529900LJL8TUEGF7HG20 | Long             | EC               |  | US        |    115000 | NS      | $12604000.00  | 0.59%             |  |  |  | No            |                  1 | On Loan: No      |
| WATERS CORPORATION                    | WATERS CORP COMMON STOCK                                | CUSIP: 941848103<br>LEI: 5T547R1474YC9HOD8Q74 | Long             | EC               |  | US        |    102000 | NS      | $30375600.00  | 1.43%             |  |  |  | No            |                  1 | On Loan: No      |
| AUTODESK, INC.                        | AUTODESK INC COMMON STOCK                               | CUSIP: N/A<br>LEI: FRKKVKAIQEF3FCSTPG55       | Long             | EC               |  | US        |    128390 | NS      | $30736566.00  | 1.44%             |  |  |  | No            |                  1 | On Loan: No      |
| AKAMAI TECHNOLOGIES, INC.             | AKAMAI TECHNOLOGIES INC COMMON STOCK                    | CUSIP: 00971T101<br>LEI: OC1LZNN2LF5WTJ5RIL89 | Long             | EC               |  | US        |    400000 | NS      | $45940000.00  | 2.16%             |  |  |  | No            |                  1 | On Loan: No      |
| BIO-TECHNE CORPORATION                | BIO-TECHNE CORP COMMON STOCK                            | CUSIP: 09073M104<br>LEI: 54930073RLKQ51TILZ35 | Long             | EC               |  | US        |    521000 | NS      | $27227460.00  | 1.28%             |  |  |  | No            |                  1 | On Loan: No      |
| TRADEWEB MARKETS INC.                 | TRADEWEB MARKETS INC-CLASS A COMMON STOCK               | CUSIP: 892672106<br>LEI: N/A                  | Long             | EC               |  | US        |    527000 | NS      | $62006820.00  | 2.91%             |  |  |  | No            |                  1 | On Loan: No      |
| OKTA, INC.                            | OKTA INC COMMON STOCK                                   | CUSIP: 679295105<br>LEI: 549300N8J06I8MRHU620 | Long             | EC               |  | US        |    481000 | NS      | $37859510.00  | 1.78%             |  |  |  | No            |                  1 | On Loan: No      |
| RYAN SPECIALTY HOLDINGS, INC.         | RYAN SPECIALTY HOLDINGS INC COMMON STOCK                | CUSIP: 78351F107<br>LEI: N/A                  | Long             | EC               |  | US        |    830000 | NS      | $28004200.00  | 1.31%             |  |  |  | No            |                  1 | On Loan: No      |
| MSCI INC.                             | MSCI INC COMMON STOCK                                   | CUSIP: 55354G100<br>LEI: 549300HTIN2PD78UB763 | Long             | EC               |  | US        |     55500 | NS      | $29915055.00  | 1.40%             |  |  |  | No            |                  1 | On Loan: No      |
| FASTENAL COMPANY                      | FASTENAL CO COMMON STOCK                                | CUSIP: 311900104<br>LEI: 529900PP0C7H2HHPSJ32 | Long             | EC               |  | US        |   1035000 | NS      | $48024000.00  | 2.25%             |  |  |  | No            |                  1 | On Loan: No      |
| TOAST, INC.                           | TOAST INC-CLASS A COMMON STOCK                          | CUSIP: 888787108<br>LEI: 549300TN1PZNLCD4I551 | Long             | EC               |  | US        |   1144000 | NS      | $30327440.00  | 1.42%             |  |  |  | No            |                  1 | On Loan: No      |
| XYLEM INC.                            | XYLEM INC COMMON STOCK                                  | CUSIP: 98419M100<br>LEI: 549300DF5MV96DRYLQ48 | Long             | EC               |  | US        |    260000 | NS      | $31070000.00  | 1.46%             |  |  |  | No            |                  1 | On Loan: No      |
| DATADOG, INC.                         | DATADOG INC - CLASS A COMMON STOCK                      | CUSIP: 23804L103<br>LEI: 549300F6JNO0KRPO1K63 | Long             | EC               |  | US        |    266000 | NS      | $31401300.00  | 1.47%             |  |  |  | No            |                  1 | On Loan: No      |
| AMETEK, INC.                          | AMETEK INC COMMON STOCK                                 | CUSIP: N/A<br>LEI: 549300WZDEF9KKE40E98       | Long             | EC               |  | US        |    157000 | NS      | $33654520.00  | 1.58%             |  |  |  | No            |                  1 | On Loan: No      |
| HOULIHAN LOKEY, INC.                  | HOULIHAN LOKEY INC COMMON STOCK                         | CUSIP: 441593100<br>LEI: 549300S3CNGTQ1QZVY46 | Long             | EC               |  | US        |    263000 | NS      | $37772060.00  | 1.77%             |  |  |  | No            |                  1 | On Loan: No      |
| EDWARDS LIFESCIENCES CORPORATION      | EDWARDS LIFESCIENCES CORP COMMON STOCK                  | CUSIP: N/A<br>LEI: YA13X31F3V31L8TMPR58       | Long             | EC               |  | US        |    381000 | NS      | $30510480.00  | 1.43%             |  |  |  | No            |                  1 | On Loan: No      |
| BROWN & BROWN, INC.                   | BROWN & BROWN INC COMMON STOCK                          | CUSIP: 115236101<br>LEI: 549300PC8KTJ71XKFY89 | Long             | EC               |  | US        |    356000 | NS      | $23214760.00  | 1.09%             |  |  |  | No            |                  1 | On Loan: No      |
| AEROVIRONMENT, INC.                   | AEROVIRONMENT INC COMMON STOCK                          | CUSIP: N/A<br>LEI: 529900PGHVI29YLZ6221       | Long             | EC               |  | US        |     67000 | NS      | $12264350.00  | 0.58%             |  |  |  | No            |                  1 | On Loan: No      |
| LINCOLN ELECTRIC HOLDINGS, INC.       | LINCOLN ELECTRIC HOLDINGS COMMON STOCK                  | CUSIP: 533900106<br>LEI: BIMGBY40SIN95O01BN93 | Long             | EC               |  | US        |     80000 | NS      | $19926400.00  | 0.94%             |  |  |  | No            |                  1 | On Loan: No      |
| EVERPURE, INC.                        | EVERPURE INC COMMON STOCK                               | CUSIP: 74624M102<br>LEI: 549300NPDB0BZTK3WO90 | Long             | EC               |  | US        |    518410 | NS      | $30606926.40  | 1.44%             |  |  |  | No            |                  1 | On Loan: No      |
| CAVA GROUP, INC.                      | CAVA GROUP INC COMMON STOCK                             | CUSIP: 148929102<br>LEI: N/A                  | Long             | EC               |  | US        |    371000 | NS      | $30013900.00  | 1.41%             |  |  |  | No            |                  1 | On Loan: No      |
| CELSIUS HOLDINGS, INC.                | CELSIUS HOLDINGS INC COMMON STOCK                       | CUSIP: 15118V207<br>LEI: N/A                  | Long             | EC               |  | US        |    554575 | NS      | $19676321.00  | 0.92%             |  |  |  | No            |                  1 | On Loan: No      |
| IDEX CORPORATION                      | IDEX CORP COMMON STOCK                                  | CUSIP: 45167R104<br>LEI: 549300U5Y5EL6PHYLF13 | Long             | EC               |  | US        |    227000 | NS      | $43027850.00  | 2.02%             |  |  |  | No            |                  1 | On Loan: No      |
| PALO ALTO NETWORKS, INC.              | PALO ALTO NETWORKS INC COMMON STOCK                     | CUSIP: 697435105<br>LEI: 549300QXR2YVZV231H43 | Long             | EC               |  | US        |    138000 | NS      | $22124160.00  | 1.04%             |  |  |  | No            |                  1 | On Loan: No      |
| CULLEN/FROST BANKERS, INC.            | CULLEN/FROST BANKERS INC COMMON STOCK                   | CUSIP: 229899109<br>LEI: 529900V2E9G9AY665O34 | Long             | EC               |  | US        |    227000 | NS      | $31117160.00  | 1.46%             |  |  |  | No            |                  1 | On Loan: No      |
| EOG RESOURCES, INC.                   | EOG RESOURCES INC COMMON STOCK                          | CUSIP: 26875P101<br>LEI: XWTZDRYZPBUHIQBKDB46 | Long             | EC               |  | US        |    391000 | NS      | $56526870.00  | 2.65%             |  |  |  | No            |                  1 | On Loan: No      |
| N/A                                   | GOLDMAN SACHS FIN SQ TR IN-IN FTIXX                     | CUSIP: 38142B500<br>LEI: N/A                  | Long             | STIV             |  | US        |  28207138 | PA      | $28207137.55  | 1.32%             |  |  |  | No            |                  2 | On Loan: No      |
| VEEVA SYSTEMS INC.                    | VEEVA SYSTEMS INC-CLASS A COMMON STOCK                  | CUSIP: 922475108<br>LEI: 549300YZEXPDB92M2F02 | Long             | EC               |  | US        |    270500 | NS      | $47516030.00  | 2.23%             |  |  |  | No            |                  1 | On Loan: No      |
| MONGODB, INC.                         | MONGODB INC COMMON STOCK                                | CUSIP: 60937P106<br>LEI: 549300TPTG69WKWE1Z37 | Long             | EC               |  | US        |     80000 | NS      | $19581600.00  | 0.92%             |  |  |  | No            |                  1 | On Loan: No      |
| METTLER-TOLEDO INTERNATIONAL INC.     | METTLER-TOLEDO INTERNATIONAL COMMON STOCK               | CUSIP: 592688105<br>LEI: 5493000BD5GJNUDIUG10 | Long             | EC               |  | US        |     25500 | NS      | $32160600.00  | 1.51%             |  |  |  | No            |                  1 | On Loan: No      |
| THE COOPER COMPANIES, INC.            | COOPER COS INC/THE COMMON STOCK                         | CUSIP: 216648501<br>LEI: QJKMVPIGLH7530PCUE20 | Long             | EC               |  | US        |    585000 | NS      | $41827500.00  | 1.96%             |  |  |  | No            |                  1 | On Loan: No      |
| FLOOR & DECOR HOLDINGS, INC.          | FLOOR & DECOR HOLDINGS INC-A COMMON STOCK               | CUSIP: 339750101<br>LEI: 549300M5FR3N688XGQ36 | Long             | EC               |  | US        |    639000 | NS      | $32461200.00  | 1.52%             |  |  |  | No            |                  1 | On Loan: No      |
| TRACTOR SUPPLY COMPANY                | TRACTOR SUPPLY COMPANY COMMON STOCK                     | CUSIP: 892356106<br>LEI: 549300OJ9VZHZRO6I137 | Long             | EC               |  | US        |    720000 | NS      | $32616000.00  | 1.53%             |  |  |  | No            |                  1 | On Loan: No      |
| WEST PHARMACEUTICAL SERVICES, INC.    | WEST PHARMACEUTICAL SERVICES COMMON STOCK               | CUSIP: 955306105<br>LEI: 5493007NKRGM1RJQ1P16 | Long             | EC               |  | US        |     76000 | NS      | $19048640.00  | 0.89%             |  |  |  | No            |                  1 | On Loan: No      |
| CARLISLE COMPANIES INCORPORATED       | CARLISLE COS INC COMMON STOCK                           | CUSIP: 142339100<br>LEI: XR64VGX1ZPX6G7ZN7Z11 | Long             | EC               |  | US        |    114000 | NS      | $38032680.00  | 1.78%             |  |  |  | No            |                  1 | On Loan: No      |
| CHEWY, INC.                           | CHEWY INC - CLASS A COMMON STOCK                        | CUSIP: 16679L109<br>LEI: 254900NPQSTG9I422879 | Long             | EC               |  | US        |    965000 | NS      | $26055000.00  | 1.22%             |  |  |  | No            |                  1 | On Loan: No      |
| KARMAN HOLDINGS INC.                  | KARMAN HOLDINGS INC COMMON STOCK                        | CUSIP: 485924104<br>LEI: N/A                  | Long             | EC               |  | US        |    290000 | NS      | $23214500.00  | 1.09%             |  |  |  | No            |                  1 | On Loan: No      |
| VERALTO CORPORATION                   | VERALTO CORP COMMON STOCK                               | CUSIP: 92338C103<br>LEI: 635400FJE6GSOJUSNY27 | Long             | EC               |  | US        |    263000 | NS      | $23254460.00  | 1.09%             |  |  |  | No            |                  1 | On Loan: No      |
| GitLab Inc                            | GITLAB INC-CL A COMMON STOCK                            | CUSIP: 37637K108<br>LEI: 9845004Y40FACG81ED49 | Long             | EC               |  | US        |   1023000 | NS      | $22137720.00  | 1.04%             |  |  |  | No            |                  1 | On Loan: No      |
| NUTANIX, INC.                         | NUTANIX INC - A COMMON STOCK                            | CUSIP: 67059N108<br>LEI: 549300X7J6E8TKVIXW09 | Long             | EC               |  | US        |   1035000 | NS      | $39340350.00  | 1.85%             |  |  |  | No            |                  1 | On Loan: No      |
| AXON ENTERPRISE, INC.                 | AXON ENTERPRISE INC COMMON STOCK                        | CUSIP: 05464C101<br>LEI: 549300QP2IEEGFE16681 | Long             | EC               |  | US        |     69000 | NS      | $29303610.00  | 1.38%             |  |  |  | No            |                  1 | On Loan: No      |
| PENUMBRA, INC.                        | PENUMBRA INC COMMON STOCK                               | CUSIP: 70975L107<br>LEI: 549300RGE06P3ECANU72 | Long             | EC               |  | US        |    118500 | NS      | $38911845.00  | 1.83%             |  |  |  | No            |                  1 | On Loan: No      |
| STERIS PUBLIC LIMITED COMPANY         | STERIS PLC COMMON STOCK                                 | CUSIP: G8473T100<br>LEI: N/A                  | Long             | EC               |  | US        |    104000 | NS      | $22997520.00  | 1.08%             |  |  |  | No            |                  1 | On Loan: No      |
| HAMILTON LANE INCORPORATED            | HAMILTON LANE INC-CLASS A COMMON STOCK                  | CUSIP: 407497106<br>LEI: 5493006OKN3V1NORM833 | Long             | EC               |  | US        |    291000 | NS      | $28925400.00  | 1.36%             |  |  |  | No            |                  1 | On Loan: No      |
| COMMERCE BANCSHARES, INC.             | COMMERCE BANCSHARES INC COMMON STOCK                    | CUSIP: 200525103<br>LEI: N/A                  | Long             | EC               |  | US        |    626000 | NS      | $30799200.00  | 1.45%             |  |  |  | No            |                  1 | On Loan: No      |
| NORDSON CORPORATION                   | NORDSON CORP COMMON STOCK                               | CUSIP: 655663102<br>LEI: 14OS6Q5N55N95WM84M53 | Long             | EC               |  | US        |    100000 | NS      | $26606000.00  | 1.25%             |  |  |  | No            |                  1 | On Loan: No      |
| WINGSTOP INC.                         | WINGSTOP INC COMMON STOCK                               | CUSIP: 974155103<br>LEI: 549300SSH3F8HPIM3Q47 | Long             | EC               |  | US        |    145000 | NS      | $22470650.00  | 1.05%             |  |  |  | No            |                  1 | On Loan: No      |
| DOMINO'S PIZZA, INC.                  | DOMINO'S PIZZA INC COMMON STOCK                         | CUSIP: 25754A201<br>LEI: 25490005ZWM1IF9UXU57 | Long             | EC               |  | US        |    104000 | NS      | $37314160.00  | 1.75%             |  |  |  | No            |                  1 | On Loan: No      |
| ARCH CAPITAL GROUP LTD.               | ARCH CAPITAL GROUP LTD COMMON STOCK                     | CUSIP: G0450A105<br>LEI: 549300AYR4P8AFKDCE43 | Long             | EC               |  | US        |    464000 | NS      | $44539360.00  | 2.09%             |  |  |  | No            |                  1 | On Loan: No      |
| LPL FINANCIAL HOLDINGS INC.           | LPL FINANCIAL HOLDINGS INC COMMON STOCK                 | CUSIP: 50212V100<br>LEI: 549300XROQ4Y8G2L7682 | Long             | EC               |  | US        |     38000 | NS      | $11431540.00  | 0.54%             |  |  |  | No            |                  1 | On Loan: No      |
| N/A                                   | FIDELITY TREASURY ONLY - I MONEY MARKET CLASS I (FSIXX) | CUSIP: 233809300<br>LEI: N/A                  | Long             | STIV             |  | US        |  20000000 | PA      | $20000000.00  | 0.94%             |  |  |  | No            |                  1 | On Loan: No      |
| MSA Safety Incorporated               | MSA SAFETY INC COMMON STOCK                             | CUSIP: 553498106<br>LEI: 529900DVA3258XK11O39 | Long             | EC               |  | US        |    153935 | NS      | $25237643.25  | 1.18%             |  |  |  | No            |                  1 | On Loan: No      |
| E.L.F. BEAUTY, INC.                   | ELF BEAUTY INC COMMON STOCK                             | CUSIP: 26856L103<br>LEI: 549300U2K9TCON25C029 | Long             | EC               |  | US        |    349500 | NS      | $21183195.00  | 0.99%             |  |  |  | No            |                  1 | On Loan: No      |
| Procore Technologies Inc              | PROCORE TECHNOLOGIES INC COMMON STOCK                   | CUSIP: 74275K108<br>LEI: 5493005PTWY0RHYRAH22 | Long             | EC               |  | US        |    530000 | NS      | $30210000.00  | 1.42%             |  |  |  | No            |                  1 | On Loan: No      |
| WASTE CONNECTIONS, INC.               | WASTE CONNECTIONS INC COMMON STOCK                      | CUSIP: 94106B101<br>LEI: 549300HDLRTPBQU69P29 | Long             | EC               |  | US        |    203000 | NS      | $32975320.00  | 1.55%             |  |  |  | No            |                  1 | On Loan: No      |
| ESAB CORPORATION                      | ESAB CORP COMMON STOCK                                  | CUSIP: 29605J106<br>LEI: 549300ZNV0SWBXEIWT04 | Long             | EC               |  | US        |    317000 | NS      | $30641220.00  | 1.44%             |  |  |  | No            |                  1 | On Loan: No      |
| W.W. GRAINGER, INC.                   | WW GRAINGER INC COMMON STOCK                            | CUSIP: 384802104<br>LEI: 549300TWZSP6O1IH2V34 | Long             | EC               |  | US        |     35000 | NS      | $38178350.00  | 1.79%             |  |  |  | No            |                  1 | On Loan: No      |
| PLANET FITNESS, INC.                  | PLANET FITNESS INC - CL A COMMON STOCK                  | CUSIP: 72703H101<br>LEI: 549300LLE5HUPF6H8G33 | Long             | EC               |  | US        |    107000 | NS      | $7958660.00   | 0.37%             |  |  |  | No            |                  1 | On Loan: No      |
| ZSCALER, INC.                         | ZSCALER INC COMMON STOCK                                | CUSIP: 98980G102<br>LEI: 529900MZ0RTK1BWRNF46 | Long             | EC               |  | US        |    167505 | NS      | $23499276.45  | 1.10%             |  |  |  | No            |                  1 | On Loan: No      |
| WYNDHAM HOTELS & RESORTS, INC.        | WYNDHAM HOTELS & RESORTS INC COMMON STOCK               | CUSIP: 98311A105<br>LEI: 549300FE3MQ4RVXXC673 | Long             | EC               |  | US        |    368000 | NS      | $29892640.00  | 1.40%             |  |  |  | No            |                  1 | On Loan: No      |
| AAON, INC.                            | AAON INC COMMON STOCK                                   | CUSIP: N/A<br>LEI: 549300ZHF0E5VM7PUD37       | Long             | EC               |  | US        |    412000 | NS      | $34093000.00  | 1.60%             |  |  |  | No            |                  1 | On Loan: No      |
| REPLIGEN CORPORATION                  | REPLIGEN CORP COMMON STOCK                              | CUSIP: 759916109<br>LEI: 54930006QJ0T5AUO1E71 | Long             | EC               |  | US        |    191000 | NS      | $22503620.00  | 1.06%             |  |  |  | No            |                  1 | On Loan: No      |
| SPROUTS FARMERS MARKET, INC.          | SPROUTS FARMERS MARKET INC COMMON STOCK                 | CUSIP: 85208M102<br>LEI: 529900P8F4G77Q52XE24 | Long             | EC               |  | US        |    313840 | NS      | $24206479.20  | 1.14%             |  |  |  | No            |                  1 | On Loan: No      |

### Signature

**Date Signed:** 2026-03-31

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

**Signature:** Andrew Metzger

**Name of Signer:** Andrew Metzger

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