# EDGAR Filing Document

**Accession Number:** 0000890540
**File Stem:** 0001752724-23-075721
**Filing Date:** 2023-3
**Character Count:** 7130
**Document Hash:** bc5b4b48e2a8a2a01e4a00a5e3e4f112
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001752724-23-075721.hdr.sgml**: 20230331

**ACCESSION NUMBER**: 0001752724-23-075721

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20230131

**FILED AS OF DATE**: 20230331

**DATE AS OF CHANGE**: 20230331

**PERIOD START**: 20231031

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Advisors' Inner Circle Fund II
- **CENTRAL INDEX KEY:** 0000890540
- **IRS NUMBER:** 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:** 23785060

**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

### PMV Adaptive Risk Parity ETF (Series ID: S000079261)

| Class ID   | Class Name                   | Ticker Symbol   |
|:---|:---|:---|
| C000240238 | PMV Adaptive Risk Parity ETF | ARP             |

## Nport-Ex

---

| | |
|:---|:---|
| **The Advisors' Inner Circle Fund II** | **PMV Adaptive Risk Parity ETF** |
| | **January 31, 2023** (Unaudited) |

---

---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp;&nbsp; **SCHEDULE OF INVESTMENTS**<br>**EXCHANGE TRADED FUNDS — 86.4%** | | |
|  | Shares | Fair Value |
| &nbsp;&nbsp;&nbsp;&nbsp; Invesco Optimum Yield Diversified Commodity Strategy No K-1 ETF | 108430 | $1621028 |
| &nbsp;&nbsp;&nbsp;&nbsp; iShares Short Treasury Bond ETF | 56085 | 6185054 |
| &nbsp;&nbsp;&nbsp;&nbsp; Vanguard FTSE Developed Markets ETF | 107952 | 4939884 |
| &nbsp;&nbsp;&nbsp;&nbsp; Vanguard FTSE Emerging Markets ETF | 38509 | 1626235 |
| &nbsp;&nbsp;&nbsp;&nbsp; WisdomTree Bloomberg U.S. Dollar Bullish Fund | 234819 | 6030152 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20402353 |
|  Total Exchange Traded Funds<br>(Cost $19,989,411) |  | 20402353 |
| &nbsp;&nbsp;&nbsp; **CLOSED-END FUND — 13.5%** |  |  |
|  **Commodities — 13.5%** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Sprott Physical Gold Trust\* | 213040 | 3182817 |
|  Total Closed-End Fund<br>(Cost $3,004,860) |  | 3182817 |
|  Total Investments - 99.9%<br>(Cost $22,994,271) |  | $23585170 |

---

Percentages are based on Net Assets of $23,610,647. <br>

\* Non-income producing security.

ETF — Exchange-Traded Fund

FTSE — Financial Times Stock Exchange

PMV-QH-001-0100

## 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:** PMV Adaptive Risk Parity ETF

- **b. EDGAR series identifier (if any):** S000079261

- **c. LEI of Series:** 5493009AWY4WDEXQDM62

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

- **a. Date of fiscal year-end:** 2023-10-31

- **b. Date as of which information is reported:** 2023-01-31

**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:** $23689653.48

**Total Liabilities:** $79006.84

**Net Assets:** $23610646.64

**Cash Not Reported:** $104483.07

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000240238 | 3.01%                |  |  |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $106356.82               | $680668.74                                 |
| Month 2  | $0.00                    | $-89769.38                                 |
| Month 3  | $0.00                    | $0.00                                      |

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| Vanguard Developed Markets Index Fund         | VANGUARD FTSE DEVELOPED ETF MUTUAL FUND  | CUSIP: 921943858<br>LEI: N/A | Long             | EC               | RF                | US        |    107952 | NS      | $4939883.52   | 20.92%            |  |  |  | No            |                  1 | On Loan: No      |
| Vanguard FTSE Emerging Markets Shares ETF AUD | VANGUARD FTSE EMERGING MARKE MUTUAL FUND | CUSIP: 922042858<br>LEI: N/A | Long             | EC               | RF                | US        |     38509 | NS      | $1626235.07   | 6.89%             |  |  |  | No            |                  1 | On Loan: No      |
| WisdomTree Bloomberg US Dollar Bullish Fund   | WISDOMTREE BBG USD BULLISH MUTUAL FUND   | CUSIP: 97717W471<br>LEI: N/A | Long             | EC               | RF                | US        |    234819 | NS      | $6030151.92   | 25.54%            |  |  |  | No            |                  1 | On Loan: No      |
| Sprott Physical Gold Trust                    | SPROTT PHYSICAL GOLD TRUST MUTUAL FUND   | CUSIP: 85207H104<br>LEI: N/A | Long             | EC               |  | US        |    213040 | NS      | $3182817.60   | 13.48%            |  |  |  | No            |                  1 | On Loan: No      |
| Ishares Barclays Short Treasury Bond Fund     | ISHARES SHORT TREASURY BOND MUTUAL FUND  | CUSIP: 464288679<br>LEI: N/A | Long             | EC               | RF                | US        |     56085 | NS      | $6185053.80   | 26.20%            |  |  |  | No            |                  1 | On Loan: No      |
| Invesco Optimum Yld Dvsfd Cmd Str No K-1 ETF  | INVESCO OPTIMUM YIELD DIVERS MUTUAL FUND | CUSIP: 46090F100<br>LEI: N/A | Long             | EC               | RF                | US        |    108430 | NS      | $1621028.50   | 6.87%             |  |  |  | No            |                  1 | On Loan: No      |

### Signature

**Date Signed:** 2023-01-31

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

**Signature:** Andy Metzger

**Name of Signer:** Andy Metzger

**Title:** CFO