# EDGAR Filing Document

**Accession Number:** 0000878719
**File Stem:** 0001752724-23-074369
**Filing Date:** 2023-3
**Character Count:** 93344
**Document Hash:** e82798a69d89b2bb1a7bff7b8558e35b
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001752724-23-074369.hdr.sgml**: 20230330

**ACCESSION NUMBER**: 0001752724-23-074369

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20230131

**FILED AS OF DATE**: 20230330

**DATE AS OF CHANGE**: 20230330

**PERIOD START**: 20231031

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** ADVISORS' INNER CIRCLE FUND
- **CENTRAL INDEX KEY:** 0000878719
- **IRS NUMBER:** 000000000
- **FISCAL YEAR END:** 1031

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-06400
- **FILM NUMBER:** 23780438

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

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

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

## Series and Classes Contracts Data

### CIBC Atlas Income Opportunities Fund (Series ID: S000042154)

| Class ID   | Class Name          | Ticker Symbol   |
|:---|:---|:---|
| C000130895 | Institutional Class | AWIIX           |

## Nport-Ex

---

| | |
|:---|:---|
| **THE ADVISORS' INNER CIRCLE FUND** | **CIBC ATLAS DISCIPLINED EQUITY**<br> **FUND**<br> **JANUARY 31, 2023 (Unaudited)** |

| | | |
|:---|:---|:---|
| SCHEDULE OF INVESTMENTS |  |  |
|  COMMON STOCK\*\* — 98.3% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Shares | Value |
|  COMMUNICATION SERVICES — 8.8% |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Alphabet, Cl A \* | 376446 | $37207923 |
| &nbsp;&nbsp;&nbsp;&nbsp; Alphabet, Cl C \* | 458913 | 45831641 |
| &nbsp;&nbsp;&nbsp;&nbsp; T-Mobile US \* | 192053 | 28675433 |
| &nbsp;&nbsp;&nbsp;&nbsp; Walt Disney \* | 155661 | 16887662 |
|  |  | 128602659 |
|  CONSUMER DISCRETIONARY — 9.5% |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Amazon.com \* | 640090 | 66012482 |
| &nbsp;&nbsp;&nbsp;&nbsp; Dollar General | 80437 | 18790083 |
| &nbsp;&nbsp;&nbsp;&nbsp; Home Depot | 101860 | 33019956 |
| &nbsp;&nbsp;&nbsp;&nbsp; TJX | 261909 | 21439871 |
|  |  | 139262392 |
|  CONSUMER STAPLES — 3.9% |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Costco Wholesale | 33565 | 17156414 |
| &nbsp;&nbsp;&nbsp;&nbsp; Mondelez International, Cl A | 319644 | 20917503 |
| &nbsp;&nbsp;&nbsp;&nbsp; PepsiCo | 107288 | 18348394 |
|  |  | 56422311 |
|  ENERGY — 4.4% |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Chevron | 108141 | 18818697 |
| &nbsp;&nbsp;&nbsp;&nbsp; ConocoPhillips | 129940 | 15835788 |
| &nbsp;&nbsp;&nbsp;&nbsp; Pioneer Natural Resources | 132034 | 30414032 |
|  |  | 65068517 |
|  FINANCIALS — 14.1% |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; BlackRock, Cl A | 20470 | 15541029 |
| &nbsp;&nbsp;&nbsp;&nbsp; Blackstone, Cl A | 269658 | 25876382 |
| &nbsp;&nbsp;&nbsp;&nbsp; Charles Schwab | 432496 | 33483840 |
| &nbsp;&nbsp;&nbsp;&nbsp; CME Group, Cl A | 53374 | 9429051 |
| &nbsp;&nbsp;&nbsp;&nbsp; Intercontinental Exchange | 134741 | 14491394 |
| &nbsp;&nbsp;&nbsp;&nbsp; JPMorgan Chase | 139900 | 19580404 |
| &nbsp;&nbsp;&nbsp;&nbsp; PNC Financial Services Group | 135899 | 22481772 |
| &nbsp;&nbsp;&nbsp;&nbsp; S&P Global | 76927 | 28843009 |
| &nbsp;&nbsp;&nbsp;&nbsp; SVB Financial Group \* | 51855 | 15683026 |
| &nbsp;&nbsp;&nbsp;&nbsp; US Bancorp | 423935 | 21111963 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;206521870 |
|  HEALTH CARE — 14.4% |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Abbott Laboratories | 178426 | 19724994 |
| &nbsp;&nbsp;&nbsp;&nbsp; AstraZeneca PLC ADR | 425597 | 27821276 |
| &nbsp;&nbsp;&nbsp;&nbsp; Danaher | 116465 | 30791017 |

---

**1** 

------

---

| | |
|:---|:---|
| **THE ADVISORS' INNER CIRCLE FUND** | **CIBC ATLAS DISCIPLINED EQUITY**<br> **FUND**<br> **JANUARY 31, 2023 (Unaudited)** |

---

------

---

| | | |
|:---|:---|:---|
|  COMMON STOCK\*\* (continued) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Shares | Value |
|  HEALTH CARE (continued) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; IQVIA Holdings \* | 83917 | $19251399 |
| &nbsp;&nbsp;&nbsp;&nbsp; Stryker | 89847 | 22804067 |
| &nbsp;&nbsp;&nbsp;&nbsp; Thermo Fisher Scientific | 45034 | 25684241 |
| &nbsp;&nbsp;&nbsp;&nbsp; UnitedHealth Group | 98872 | 49355914 |
| &nbsp;&nbsp;&nbsp;&nbsp; Zoetis, Cl A | 99021 | 16386985 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;211819893 |
|  INDUSTRIALS — 7.7% |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Honeywell International | 175688 | 36627434 |
| &nbsp;&nbsp;&nbsp;&nbsp; Otis Worldwide | 255868 | 21040026 |
| &nbsp;&nbsp;&nbsp;&nbsp; Raytheon Technologies | 346632 | 34611205 |
| &nbsp;&nbsp;&nbsp;&nbsp; Union Pacific | 100892 | 20601138 |
|  |  | 112879803 |
|  INFORMATION TECHNOLOGY — 27.3% |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Adobe \* | 49590 | 18365161 |
| &nbsp;&nbsp;&nbsp;&nbsp; Analog Devices | 127598 | 21879229 |
| &nbsp;&nbsp;&nbsp;&nbsp; Apple | 341002 | 49203179 |
| &nbsp;&nbsp;&nbsp;&nbsp; Automatic Data Processing | 51151 | 11550407 |
| &nbsp;&nbsp;&nbsp;&nbsp; Cisco Systems | 575101 | 27990166 |
| &nbsp;&nbsp;&nbsp;&nbsp; Fidelity National Information Services | 182249 | 13675965 |
| &nbsp;&nbsp;&nbsp;&nbsp; Fiserv \* | 170638 | 18203662 |
| &nbsp;&nbsp;&nbsp;&nbsp; Microsoft | 383282 | 94981112 |
| &nbsp;&nbsp;&nbsp;&nbsp; QUALCOMM | 143845 | 19161592 |
| &nbsp;&nbsp;&nbsp;&nbsp; Roper Technologies | 55992 | 23894586 |
| &nbsp;&nbsp;&nbsp;&nbsp; Salesforce \* | 152598 | 25631886 |
| &nbsp;&nbsp;&nbsp;&nbsp; TE Connectivity | 163557 | 20796273 |
| &nbsp;&nbsp;&nbsp;&nbsp; Visa, Cl A | 243231 | 55994208 |
|  |  | 401327426 |
|  MATERIALS — 3.0% |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Linde PLC | 72097 | 23859781 |
| &nbsp;&nbsp;&nbsp;&nbsp; Martin Marietta Materials | 57308 | 20610249 |
|  |  | 44470030 |
|  REAL ESTATE — 2.6% |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; American Tower, Cl A ‡ | 73598 | 16441057 |
| &nbsp;&nbsp;&nbsp;&nbsp; AvalonBay Communities ‡ | 41957 | 7444850 |
| &nbsp;&nbsp;&nbsp;&nbsp; Prologis ‡ | 115438 | 14923825 |
|  |  | 38809732 |
|  UTILITIES — 2.6% |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; American Water Works | 35623 | 5574643 |

---

**2** 

------

---

| | |
|:---|:---|
| **THE ADVISORS' INNER CIRCLE FUND** | **CIBC ATLAS DISCIPLINED EQUITY**<br> **FUND**<br> **JANUARY 31, 2023 (Unaudited)** |

---

------

---

| | | |
|:---|:---|:---|
|  COMMON STOCK\*\* (continued) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Shares | Value |
|  UTILITIES (continued) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; NextEra Energy | 436293 | $32560547 |
|  |  | 38135190 |
| &nbsp;&nbsp;&nbsp;&nbsp; TOTAL COMMON STOCK<br>(Cost $757,717,928) |  | 1443319823 |
|  CASH EQUIVALENT — 1.7% |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; First American Government Obligations Fund, Cl X, 4.140% (A) | 24241933 | 24241933 |
| &nbsp;&nbsp;&nbsp;&nbsp; TOTAL CASH EQUIVALENT<br>(Cost $24,241,933) |  | 24241933 |
|  TOTAL INVESTMENTS — 100.0%<br>(Cost $781,959,861) |  | $&nbsp;&nbsp;&nbsp;&nbsp;1467561756 |

---

Percentages are based on Net Assets of $1,467,637,034.

\* Non-income producing security.

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

‡ Real Estate Investment Trust

(A) The rate reported is the 7-day effective yield as of January 31, 2023.

ADR — American Depositary Receipt

Cl — Class

PLC — Public Limited Company

*ATF-QH-001-1900* 

**3** 

------

---

| | |
|:---|:---|
| **THE ADVISORS' INNER CIRCLE FUND** | **CIBC ATLAS MID CAP EQUITY FUND**<br> **JANUARY 31, 2023 (Unaudited)**<br>|

---

------

---

| | | |
|:---|:---|:---|
| SCHEDULE OF INVESTMENTS |  |  |
|  COMMON STOCK\*\* — 97.1% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Shares | Value |
|  COMMUNICATION SERVICES — 0.5% |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Live Nation Entertainment \* | 45691 | $3677669 |
|  CONSUMER DISCRETIONARY — 17.4% |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Aptiv PLC \* | 68214 | 7714321 |
| &nbsp;&nbsp;&nbsp;&nbsp; AutoZone \* | 10615 | 25888393 |
| &nbsp;&nbsp;&nbsp;&nbsp; Chipotle Mexican Grill, Cl A \* | 8677 | 14285639 |
| &nbsp;&nbsp;&nbsp;&nbsp; Domino's Pizza | 17446 | 6158438 |
| &nbsp;&nbsp;&nbsp;&nbsp; Five Below \* | 49845 | 9825945 |
| &nbsp;&nbsp;&nbsp;&nbsp; Floor & Decor Holdings, Cl A \* | 79106 | 7180452 |
| &nbsp;&nbsp;&nbsp;&nbsp; Marriott International, Cl A | 54829 | 9550115 |
| &nbsp;&nbsp;&nbsp;&nbsp; Planet Fitness, Cl A \* | 101813 | 8618470 |
| &nbsp;&nbsp;&nbsp;&nbsp; Ross Stores | 63968 | 7560378 |
| &nbsp;&nbsp;&nbsp;&nbsp; Tractor Supply | 61106 | 13931557 |
| &nbsp;&nbsp;&nbsp;&nbsp; Ulta Beauty \* | 25753 | 13236012 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;123949720 |
|  CONSUMER STAPLES — 3.9% |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Church & Dwight | 52522 | 4246929 |
| &nbsp;&nbsp;&nbsp;&nbsp; Monster Beverage \* | 92859 | 9664765 |
| &nbsp;&nbsp;&nbsp;&nbsp; Sprouts Farmers Market \* | 189503 | 6054621 |
| &nbsp;&nbsp;&nbsp;&nbsp; US Foods Holding \* | 207041 | 7894473 |
|  |  | 27860788 |
|  ENERGY — 3.0% |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Cheniere Energy | 48737 | 7446526 |
| &nbsp;&nbsp;&nbsp;&nbsp; Diamondback Energy | 93782 | 13703426 |
|  |  | 21149952 |
|  FINANCIALS — 5.8% |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Ameriprise Financial | 56214 | 19681646 |
| &nbsp;&nbsp;&nbsp;&nbsp; Ares Management, Cl A | 107259 | 8901424 |
| &nbsp;&nbsp;&nbsp;&nbsp; MSCI, Cl A | 24738 | 13149731 |
|  |  | 41732801 |
|  HEALTH CARE — 15.3% |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Agilent Technologies | 60275 | 9166622 |
| &nbsp;&nbsp;&nbsp;&nbsp; Align Technology \* | 38953 | 10506793 |
| &nbsp;&nbsp;&nbsp;&nbsp; Alnylam Pharmaceuticals \* | 52153 | 11807439 |
| &nbsp;&nbsp;&nbsp;&nbsp; AmerisourceBergen, Cl A | 40337 | 6815340 |
| &nbsp;&nbsp;&nbsp;&nbsp; Avantor \* | 500664 | 11965869 |
| &nbsp;&nbsp;&nbsp;&nbsp; Charles River Laboratories International \* | 41999 | 10216257 |

---

**4** 

------

---

| | |
|:---|:---|
| **THE ADVISORS' INNER CIRCLE FUND** | **CIBC ATLAS MID CAP EQUITY FUND**<br> **JANUARY 31, 2023 (Unaudited)**<br>|

---

------

---

| | | |
|:---|:---|:---|
|  COMMON STOCK\*\* (continued) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Shares | Value |
|  HEALTH CARE (continued) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Edwards Lifesciences \* | 65906 | $5054990 |
| &nbsp;&nbsp;&nbsp;&nbsp; Humana | 20307 | 10391092 |
| &nbsp;&nbsp;&nbsp;&nbsp; ICON PLC \* | 41814 | 9646908 |
| &nbsp;&nbsp;&nbsp;&nbsp; ResMed | 57875 | 13216914 |
| &nbsp;&nbsp;&nbsp;&nbsp; Veeva Systems, Cl A \* | 59906 | 10216968 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;109005192 |
|  INDUSTRIALS — 14.6% |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; AMETEK | 72552 | 10514236 |
| &nbsp;&nbsp;&nbsp;&nbsp; Cintas | 16800 | 7454832 |
| &nbsp;&nbsp;&nbsp;&nbsp; CoStar Group \* | 80306 | 6255838 |
| &nbsp;&nbsp;&nbsp;&nbsp; Howmet Aerospace | 204641 | 8326842 |
| &nbsp;&nbsp;&nbsp;&nbsp; Hubbell, Cl B | 32768 | 7500923 |
| &nbsp;&nbsp;&nbsp;&nbsp; IAA \* | 112428 | 4691621 |
| &nbsp;&nbsp;&nbsp;&nbsp; IDEX | 45599 | 10929168 |
| &nbsp;&nbsp;&nbsp;&nbsp; Ingersoll Rand | 140119 | 7846664 |
| &nbsp;&nbsp;&nbsp;&nbsp; Masco | 113166 | 6020431 |
| &nbsp;&nbsp;&nbsp;&nbsp; Oshkosh | 52245 | 5265251 |
| &nbsp;&nbsp;&nbsp;&nbsp; Pentair PLC | 56122 | 3108036 |
| &nbsp;&nbsp;&nbsp;&nbsp; Regal Rexnord | 50676 | 7054099 |
| &nbsp;&nbsp;&nbsp;&nbsp; TransUnion | 94244 | 6762007 |
| &nbsp;&nbsp;&nbsp;&nbsp; Waste Connections | 66460 | 8832534 |
| &nbsp;&nbsp;&nbsp;&nbsp; Zurn Elkay Water Solutions | 154888 | 3385852 |
|  |  | 103948334 |
|  INFORMATION TECHNOLOGY — 29.0% |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Amphenol, Cl A | 183318 | 14623277 |
| &nbsp;&nbsp;&nbsp;&nbsp; ANSYS \* | 38676 | 10301739 |
| &nbsp;&nbsp;&nbsp;&nbsp; Bill.com Holdings \* | 15600 | 1803672 |
| &nbsp;&nbsp;&nbsp;&nbsp; Cadence Design Systems \* | 101720 | 18597468 |
| &nbsp;&nbsp;&nbsp;&nbsp; CDW | 62583 | 12268145 |
| &nbsp;&nbsp;&nbsp;&nbsp; Dynatrace \* | 141781 | 5448644 |
| &nbsp;&nbsp;&nbsp;&nbsp; Enphase Energy \* | 66921 | 14814971 |
| &nbsp;&nbsp;&nbsp;&nbsp; Entegris | 94336 | 7613859 |
| &nbsp;&nbsp;&nbsp;&nbsp; EPAM Systems \* | 37291 | 12404851 |
| &nbsp;&nbsp;&nbsp;&nbsp; FleetCor Technologies \* | 36553 | 7632632 |
| &nbsp;&nbsp;&nbsp;&nbsp; Genpact | 103936 | 4914094 |
| &nbsp;&nbsp;&nbsp;&nbsp; Global Payments | 85659 | 9655482 |
| &nbsp;&nbsp;&nbsp;&nbsp; Keysight Technologies \* | 85936 | 15412622 |
| &nbsp;&nbsp;&nbsp;&nbsp; KLA | 15415 | 6050079 |
| &nbsp;&nbsp;&nbsp;&nbsp; Marvell Technology | 111597 | 4815410 |
| &nbsp;&nbsp;&nbsp;&nbsp; Microchip Technology | 220056 | 17080747 |
| &nbsp;&nbsp;&nbsp;&nbsp; Palo Alto Networks \* | 101905 | 16166209 |

---

**5** 

------

---

| | |
|:---|:---|
| **THE ADVISORS' INNER CIRCLE FUND** | **CIBC ATLAS MID CAP EQUITY FUND**<br> **JANUARY 31, 2023 (Unaudited)**<br>|

---

------

---

| | | |
|:---|:---|:---|
|  COMMON STOCK\*\* (continued) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Shares | Value |
|  INFORMATION TECHNOLOGY (continued) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Roper Technologies | 28245 | $12053554 |
| &nbsp;&nbsp;&nbsp;&nbsp; Synopsys \* | 43476 | 15379635 |
|  |  | 207037090 |
|  MATERIALS — 5.3% |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Ashland | 60829 | 6646785 |
| &nbsp;&nbsp;&nbsp;&nbsp; Berry Global Group | 116674 | 7202286 |
| &nbsp;&nbsp;&nbsp;&nbsp; Crown Holdings | 99321 | 8756139 |
| &nbsp;&nbsp;&nbsp;&nbsp; FMC | 75044 | 9990608 |
| &nbsp;&nbsp;&nbsp;&nbsp; Livent \* | 207410 | 5376067 |
|  |  | 37971885 |
|  REAL ESTATE — 2.3% |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; SBA Communications, Cl A ‡ | 55845 | 16615563 |
| &nbsp;&nbsp;&nbsp;&nbsp; TOTAL COMMON STOCK<br>(Cost $427,516,048) |  | 692948994 |
|  CASH EQUIVALENT — 3.0% |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; First American Government Obligations Fund, Cl X, 4.140% (A) | 21060931 | 21060931 |
| &nbsp;&nbsp;&nbsp;&nbsp; TOTAL CASH EQUIVALENT<br>(Cost $21,060,931) |  | 21060931 |
|  TOTAL INVESTMENTS — 100.1%<br>(Cost $448,576,979) |  | $&nbsp;&nbsp;&nbsp;&nbsp;714009925 |

---

Percentages are based on Net Assets of $713,620,952.

\* Non-income producing security.

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

‡ Real Estate Investment Trust

(A) The rate reported is the 7-day effective yield as of January 31, 2023.

Cl — Class

PLC — Public Limited Company

*ATF-QH-002-1800* 

**6** 

------

---

| | |
|:---|:---|
| **THE ADVISORS' INNER CIRCLE FUND** | **CIBC ATLAS INCOME**<br> **OPPORTUNITIES FUND**<br> **JANUARY 31, 2023 (Unaudited)** |

---

------

---

| | | |
|:---|:---|:---|
| SCHEDULE OF INVESTMENTS |  |  |
|  COMMON STOCK — 67.0% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Shares | Value |
|  COMMUNICATION SERVICES — 2.3% |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Alphabet, Cl A \* (A) | 142450 | $14079758 |
|  CONSUMER DISCRETIONARY — 5.7% |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Amazon.com \* (A) | 114360 | 11793947 |
| &nbsp;&nbsp;&nbsp;&nbsp; Home Depot | 34795 | 11279495 |
| &nbsp;&nbsp;&nbsp;&nbsp; Service International | 76578 | 5678259 |
| &nbsp;&nbsp;&nbsp;&nbsp; Vail Resorts | 25295 | 6635890 |
|  |  | 35387591 |
|  CONSUMER STAPLES — 4.0% |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Costco Wholesale | 9660 | 4937612 |
| &nbsp;&nbsp;&nbsp;&nbsp; PepsiCo | 62231 | 10642746 |
| &nbsp;&nbsp;&nbsp;&nbsp; Procter & Gamble | 68075 | 9692518 |
|  |  | 25272876 |
|  ENERGY — 3.7% |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Chevron | 76398 | 13294780 |
| &nbsp;&nbsp;&nbsp;&nbsp; Pioneer Natural Resources | 42250 | 9732287 |
|  |  | 23027067 |
|  FINANCIALS — 9.8% |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Ares Capital | 326422 | 6322794 |
| &nbsp;&nbsp;&nbsp;&nbsp; Ares Management, Cl A | 88130 | 7313909 |
| &nbsp;&nbsp;&nbsp;&nbsp; Blue Owl Capital, Cl A | 471350 | 5929583 |
| &nbsp;&nbsp;&nbsp;&nbsp; CME Group, Cl A | 29234 | 5164478 |
| &nbsp;&nbsp;&nbsp;&nbsp; Golub Capital BDC | 402350 | 5512195 |
| &nbsp;&nbsp;&nbsp;&nbsp; Hannon Armstrong Sustainable Infrastructure Capital | 59590 | 2199467 |
| &nbsp;&nbsp;&nbsp;&nbsp; JPMorgan Chase | 72496 | 10146540 |
| &nbsp;&nbsp;&nbsp;&nbsp; S&P Global | 23905 | 8962941 |
| &nbsp;&nbsp;&nbsp;&nbsp; US Bancorp | 187982 | 9361504 |
|  |  | 60913411 |
|  HEALTH CARE — 6.0% |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Johnson & Johnson | 66985 | 10946689 |
| &nbsp;&nbsp;&nbsp;&nbsp; Medtronic PLC | 47500 | 3975275 |
| &nbsp;&nbsp;&nbsp;&nbsp; Novartis ADR | 69438 | 6292472 |
| &nbsp;&nbsp;&nbsp;&nbsp; UnitedHealth Group | 31728 | 15838300 |
|  |  | 37052736 |
|  INDUSTRIALS — 8.6% |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; IDEX | 36625 | 8778280 |
| &nbsp;&nbsp;&nbsp;&nbsp; Lockheed Martin | 24964 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11564823 |

---

**7** 

------

---

| | |
|:---|:---|
| **THE ADVISORS' INNER CIRCLE FUND** | **CIBC ATLAS INCOME**<br> **OPPORTUNITIES FUND**<br> **JANUARY 31, 2023 (Unaudited)** |

---

------

---

| | | |
|:---|:---|:---|
|  COMMON STOCK (continued) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Shares | Value |
|  INDUSTRIALS (continued) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Republic Services, Cl A | 72900 | $9099378 |
| &nbsp;&nbsp;&nbsp;&nbsp; Rollins | 149250 | 5432700 |
| &nbsp;&nbsp;&nbsp;&nbsp; Triton International | 43503 | 3073052 |
| &nbsp;&nbsp;&nbsp;&nbsp; Union Pacific | 37522 | 7661617 |
| &nbsp;&nbsp;&nbsp;&nbsp; United Parcel Service, Cl B | 42892 | 7944885 |
|  |  | 53554735 |
|  INFORMATION TECHNOLOGY — 19.4% |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Apple | 175690 | 25350310 |
| &nbsp;&nbsp;&nbsp;&nbsp; Automatic Data Processing | 28847 | 6513941 |
| &nbsp;&nbsp;&nbsp;&nbsp; Broadcom | 23534 | 13767626 |
| &nbsp;&nbsp;&nbsp;&nbsp; Cisco Systems | 142199 | 6920826 |
| &nbsp;&nbsp;&nbsp;&nbsp; Fidelity National Information Services | 74500 | 5590480 |
| &nbsp;&nbsp;&nbsp;&nbsp; Microchip Technology | 140036 | 10869594 |
| &nbsp;&nbsp;&nbsp;&nbsp; Microsoft | 120583 | 29881673 |
| &nbsp;&nbsp;&nbsp;&nbsp; QUALCOMM | 72015 | 9593118 |
| &nbsp;&nbsp;&nbsp;&nbsp; Visa, Cl A | 52562 | 12100298 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;120587866 |
|  MATERIALS — 1.7% |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Linde PLC | 32136 | 10635088 |
|  REAL ESTATE — 4.0% |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Crown Castle ‡ | 32978 | 4884372 |
| &nbsp;&nbsp;&nbsp;&nbsp; Invitation Homes ‡ | 134357 | 4366602 |
| &nbsp;&nbsp;&nbsp;&nbsp; Prologis ‡ | 58500 | 7562880 |
| &nbsp;&nbsp;&nbsp;&nbsp; VICI Properties, Cl A ‡ | 144626 | 4943317 |
| &nbsp;&nbsp;&nbsp;&nbsp; Weyerhaeuser ‡ | 85884 | 2956986 |
|  |  | 24714157 |
|  UTILITIES — 1.8% |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; NextEra Energy | 149010 | 11120616 |
| &nbsp;&nbsp;&nbsp;&nbsp; TOTAL COMMON STOCK<br>(Cost $273,734,157) |  | 416345901 |
|  CORPORATE OBLIGATIONS — 19.4% | Face Amount |  |
|  COMMUNICATION SERVICES — 2.4% |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Comcast<br>2.937%, 11/01/56 | $6111000 | 4170290 |
| &nbsp;&nbsp;&nbsp;&nbsp; Diamond Sports Group<br>5.375%, 08/15/26(B) | 4500000 | 331875 |

---

**8** 

------

---

| | |
|:---|:---|
| **THE ADVISORS' INNER CIRCLE FUND** | **CIBC ATLAS INCOME**<br> **OPPORTUNITIES FUND**<br> **JANUARY 31, 2023 (Unaudited)** |

---

------

---

| | | |
|:---|:---|:---|
|  CORPORATE OBLIGATIONS (continued) | Face Amount | Value |
|  COMMUNICATION SERVICES (continued) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Discovery Communications<br>3.800%, 03/13/24 | $3150000 | $3096198 |
| &nbsp;&nbsp;&nbsp;&nbsp; T-Mobile USA<br>3.500%, 04/15/31 | 5000000 | 4474249 |
| &nbsp;&nbsp;&nbsp;&nbsp; Verizon Communications<br>2.355%, 03/15/32 | 2441000 | 2010907 |
| &nbsp;&nbsp;&nbsp;&nbsp; Warnermedia Holdings<br>3.428%, 03/15/24(B) | 1000000 | 978736 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15062255 |
|  CONSUMER DISCRETIONARY — 3.0% |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Amazon.com<br>3.150%, 08/22/27 | 3300000 | 3155084 |
| &nbsp;&nbsp;&nbsp;&nbsp; Ford Motor Credit<br>7.350%, 11/04/27 | 3000000 | 3146250 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.950%, 03/06/26 | 2000000 | 2045160 |
| &nbsp;&nbsp;&nbsp;&nbsp; General Motors<br>6.800%, 10/01/27 | 2500000 | 2662386 |
| &nbsp;&nbsp;&nbsp;&nbsp; Meritage Homes<br>3.875%, 04/15/29(B) | 3000000 | 2658750 |
| &nbsp;&nbsp;&nbsp;&nbsp; Newell Brands<br>4.450%, 04/01/26 | 5000000 | 4750200 |
|  |  | 18417830 |
|  ENERGY — 1.8% |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Cheniere Energy Partners<br>4.500%, 10/01/29 | 5000000 | 4690600 |
| &nbsp;&nbsp;&nbsp;&nbsp; DCP Midstream Operating<br>6.750%, 09/15/37(B) | 1500000 | 1643175 |
| &nbsp;&nbsp;&nbsp;&nbsp; Kinder Morgan MTN<br>7.800%, 08/01/31 | 1400000 | 1615428 |
| &nbsp;&nbsp;&nbsp;&nbsp; Sabine Pass Liquefaction<br>5.750%, 05/15/24 | 1250000 | 1257179 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.625%, 03/01/25 | 2000000 | 2017836 |
|  |  | 11224218 |
|  FINANCIALS — 5.8% |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Ally Financial<br>2.200%, 11/02/28 | 5000000 | 4178033 |
| &nbsp;&nbsp;&nbsp;&nbsp; Ares Capital<br>3.875%, 01/15/26 | 5000000 | 4703326 |

---

**9** 

------

---

| | |
|:---|:---|
| **THE ADVISORS' INNER CIRCLE FUND** | **CIBC ATLAS INCOME**<br> **OPPORTUNITIES FUND**<br> **JANUARY 31, 2023 (Unaudited)** |

---

------

---

| | | |
|:---|:---|:---|
|  CORPORATE OBLIGATIONS (continued) | Face Amount | Value |
|  FINANCIALS (continued) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Bank of America<br>5.200%, ICE LIBOR USD 3 Month + 3.135%(C)(D) | $2000000 | $1980349 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.950%, 04/21/25 | 5750000 | 5654145 |
| &nbsp;&nbsp;&nbsp;&nbsp; Goldman Sachs Group<br>6.552%, ICE LIBOR USD 3 Month + 1.750%, 10/28/27(C) | 3000000 | 3088059 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1.217%, 12/06/23 | 4000000 | 3876618 |
| &nbsp;&nbsp;&nbsp;&nbsp; JPMorgan Chase<br>7.394%, ICE LIBOR USD 3 Month + 2.580%(C)(D) | 1000000 | 995000 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.000%, ICE LIBOR USD 3 Month + 3.300%(C)(D) | 1500000 | 1494375 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.000%, TSFR3M + 3.380%(C)(D) | 2000000 | 1945000 |
| &nbsp;&nbsp;&nbsp;&nbsp; OneMain Finance<br>3.500%, 01/15/27 | 3000000 | 2609148 |
| &nbsp;&nbsp;&nbsp;&nbsp; PNC Financial Services Group<br>8.492%, ICE LIBOR USD 3 Month + 3.678%(C)(D) | 2500000 | 2506248 |
| &nbsp;&nbsp;&nbsp;&nbsp; Wells Fargo MTN<br>4.100%, 06/03/26 | 3000000 | 2948691 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;35978992 |
|  HEALTH CARE — 1.2% |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; AbbVie<br>4.250%, 11/21/49 | 3500000 | 3133073 |
| &nbsp;&nbsp;&nbsp;&nbsp; HCA<br>5.375%, 02/01/25 | 3050000 | 3061521 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.000%, 03/15/24 | 1250000 | 1247063 |
|  |  | 7441657 |
|  INDUSTRIALS — 1.0% |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; AerCap Ireland Capital DAC<br>3.000%, 10/29/28 | 1000000 | 881542 |
| &nbsp;&nbsp;&nbsp;&nbsp; Northrop Grumman<br>4.030%, 10/15/47 | 2000000 | 1762030 |
| &nbsp;&nbsp;&nbsp;&nbsp; Quanta Services<br>2.900%, 10/01/30 | 3750000 | 3219989 |
|  |  | 5863561 |
|  INFORMATION TECHNOLOGY — 2.8% |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Apple<br>3.850%, 08/04/46 | 3000000 | 2700539 |
| &nbsp;&nbsp;&nbsp;&nbsp; Broadcom<br>3.469%, 04/15/34(B) | 2500000 | 2072819 |
| &nbsp;&nbsp;&nbsp;&nbsp; CommScope Technologies<br>6.000%, 06/15/25(B) | 1734000 | 1642150 |

---

**10** 

------

---

| | |
|:---|:---|
| **THE ADVISORS' INNER CIRCLE FUND** | **CIBC ATLAS INCOME**<br> **OPPORTUNITIES FUND**<br> **JANUARY 31, 2023 (Unaudited)** |

---

------

---

| | | |
|:---|:---|:---|
|  CORPORATE OBLIGATIONS (continued) | Face Amount | Value |
|  INFORMATION TECHNOLOGY (continued) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Kyndryl Holdings<br>2.050%, 10/15/26 | $1000000 | $862164 |
| &nbsp;&nbsp;&nbsp;&nbsp; Oracle<br>6.150%, 11/09/29 | 3000000 | 3206562 |
| &nbsp;&nbsp;&nbsp;&nbsp; Salesforce<br>3.700%, 04/11/28 | 3000000 | 2936396 |
| &nbsp;&nbsp;&nbsp;&nbsp; Western Union<br>2.850%, 01/10/25 | 4500000 | 4324135 |
|  |  | 17744765 |
|  MATERIALS — 0.3% |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; NOVA Chemicals<br>5.000%, 05/01/25(B) | 2000000 | 1923318 |
|  REAL ESTATE — 1.1% |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Boston Properties<br>2.750%, 10/01/26 | 1000000 | 919418 |
| &nbsp;&nbsp;&nbsp;&nbsp; Equinix<br>3.000%, 07/15/50 | 3000000 | 2063829 |
| &nbsp;&nbsp;&nbsp;&nbsp; VICI Properties<br>5.125%, 05/15/32 | 4000000 | 3826400 |
|  |  | 6809647 |
| &nbsp;&nbsp;&nbsp;&nbsp; TOTAL CORPORATE OBLIGATIONS<br>(Cost $134,258,262) |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;120466243 |
|  U.S. TREASURY OBLIGATIONS — 7.5% |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; U.S. Treasury Bonds<br>3.000%, 02/15/48 | 10000000 | 8807031 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.500%, 02/15/45 | 10000000 | 8067578 |
|  |  | 16874609 |
| &nbsp;&nbsp;&nbsp;&nbsp; U.S. Treasury Inflation Indexed Notes<br>0.500%, 01/15/28 | 12069400 | 11550321 |
| &nbsp;&nbsp;&nbsp;&nbsp; U.S. Treasury Notes<br>2.000%, 08/15/25 | 10000000 | 9521094 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1.625%, 05/15/31 | 10000000 | 8700391 |
|  |  | 18221485 |
| &nbsp;&nbsp;&nbsp;&nbsp; TOTAL U.S. TREASURY OBLIGATIONS<br>(Cost $51,758,527) |  | 46646415 |

---

**11** 

------

---

| | |
|:---|:---|
| **THE ADVISORS' INNER CIRCLE FUND** | **CIBC ATLAS INCOME**<br> **OPPORTUNITIES FUND**<br> **JANUARY 31, 2023 (Unaudited)** |

---

------

---

| | | |
|:---|:---|:---|
|  MORTGAGE-BACKED SECURITY — 2.1% | Face Amount | Value |
|  AGENCY MORTGAGE-BACKED OBLIGATION — 2.1% |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; FNMA<br>4.500%, 07/01/52 | $13009306 | $12860752 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; TOTAL MORTGAGE-BACKED SECURITY<br>(Cost 12,835,588) |  | 12860752 |
| EXCHANGE TRADED FUNDS — 1.7% | Shares |  |
| &nbsp;&nbsp;&nbsp;&nbsp; iShares National Muni Bond ETF | 53290 | 5761715 |
| &nbsp;&nbsp;&nbsp;&nbsp; Nuveen AMT-Free Quality Municipal Income Fund, Cl Institutional | 409191 | 4746615 |
| &nbsp;&nbsp;&nbsp;&nbsp; TOTAL EXCHANGE TRADED FUNDS<br>(Cost $10,933,458) |  | 10508330 |
|  PREFERRED STOCK — 0.3% |  |  |
|  FINANCIALS — 0.3% |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Wells Fargo, 7.500% | 1700 | 2138583 |
| &nbsp;&nbsp;&nbsp;&nbsp; TOTAL PREFERRED STOCK<br>(Cost $2,066,538) |  | 2138583 |
|  CASH EQUIVALENT — 2.4% |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; First American Government Obligations Fund, Cl X, 4.140% (E) | 15212669 | 15212669 |
| &nbsp;&nbsp;&nbsp;&nbsp; TOTAL CASH EQUIVALENT<br>(Cost $15,212,669) |  | 15212669 |
|  TOTAL INVESTMENTS — 100.4%<br>(Cost $500,799,199) |  | $&nbsp;&nbsp;&nbsp;&nbsp;624178893 |
|  WRITTEN OPTIONS — (0.2%) | Contracts | Value |
| &nbsp;&nbsp;&nbsp;&nbsp; TOTAL WRITTEN OPTIONS — (0.2%)<br>(Premiums Received $366,923) | (2567) | $(1013700) |

---

**12** 

------

---

| | |
|:---|:---|
| **THE ADVISORS' INNER CIRCLE FUND** | **CIBC ATLAS INCOME**<br> **OPPORTUNITIES FUND**<br> **JANUARY 31, 2023 (Unaudited)** |

---

------

*A list of the exchange traded option contracts held by the Fund at January 31, 2023, is as follows:* 

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| Description  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Contracts | Notional Amount | Exercise<br>Price | Expiration<br>Date | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Value |
|  WRITTEN OPTIONS — (0.2%) | WRITTEN OPTIONS — (0.2%) |  |  |  |  |
|  Call Options |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Alphabet\* | (1424) | $(14074816) | $105 | 02/20/23 | $(213600) |
| &nbsp;&nbsp;&nbsp;&nbsp; Amazon\* | (1143) | (11787759) | 100 | 02/20/23 | (800100) |
| &nbsp;&nbsp;&nbsp;&nbsp; Total Written Options |  | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(25862575) |  |  | $(1013700) |

---

Percentages are based on Net Assets of $621,899,209.

\* Non-income producing security.

‡ Real Estate Investment Trust

(A) Security, or portion thereof, has been pledged as collateral on written equity options.

(B) Securities sold within terms of a private placement memorandum, exempt from registration under Section 144A of the
Securities Act of 1933, as amended, and may be sold only to dealers in that program or other "accredited investors." The total value of such securities as of January 31, 2023 was $11,250,823 which represents 1.8% of Net Assets.

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

(D) Perpetual security with no stated maturity date.

(E) The rate reported is the 7-day effective yield as of January 31, 2023.

ADR — American Depositary Receipt

BDC — Business Development Company

Cl — Class

DAC — Designated Activity Company

ETF — Exchange Traded Fund

FNMA — Federal National Mortgage Association

ICE — Intercontinental Exchange

LIBOR— London Interbank Offered Rate

MTN — Medium Term Note

PLC — Public Limited Company

USD — U.S. Dollar

*ATF-QH-003-1800* 

**13** 

------

---

| | |
|:---|:---|
| **THE ADVISORS' INNER CIRCLE FUND** | **CIBC ATLAS ALL CAP GROWTH FUND**<br> **JANUARY 31, 2023 (Unaudited)**<br>|

---

------

---

| | | |
|:---|:---|:---|
| SCHEDULE OF INVESTMENTS |  |  |
|  COMMON STOCK\*\* — 97.8% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Shares | Value |
|  COMMUNICATION SERVICES — 2.4% |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Live Nation Entertainment \* | 37154 | $2990526 |
| &nbsp;&nbsp;&nbsp;&nbsp; Nexstar Media Group, Cl A | 7272 | 1489087 |
|  |  | 4479613 |
|  CONSUMER DISCRETIONARY — 8.7% |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Amazon.com \* | 56139 | 5789615 |
| &nbsp;&nbsp;&nbsp;&nbsp; Chipotle Mexican Grill, Cl A \* | 2784 | 4583522 |
| &nbsp;&nbsp;&nbsp;&nbsp; TJX | 30754 | 2517522 |
| &nbsp;&nbsp;&nbsp;&nbsp; Ulta Beauty \* | 6774 | 3481565 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16372224 |
|  CONSUMER STAPLES — 1.5% |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Costco Wholesale | 5272 | 2694730 |
|  ENERGY — 4.2% |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Devon Energy | 23177 | 1465713 |
| &nbsp;&nbsp;&nbsp;&nbsp; EOG Resources | 48675 | 6437269 |
|  |  | 7902982 |
|  FINANCIALS — 17.6% |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Ares Management, Cl A | 9032 | 749566 |
| &nbsp;&nbsp;&nbsp;&nbsp; Blackstone, Cl A | 61523 | 5903747 |
| &nbsp;&nbsp;&nbsp;&nbsp; Brown & Brown | 76707 | 4491962 |
| &nbsp;&nbsp;&nbsp;&nbsp; Charles Schwab | 53378 | 4132525 |
| &nbsp;&nbsp;&nbsp;&nbsp; Goldman Sachs Group | 6601 | 2414712 |
| &nbsp;&nbsp;&nbsp;&nbsp; Kinsale Capital Group | 12777 | 3557628 |
| &nbsp;&nbsp;&nbsp;&nbsp; LPL Financial Holdings | 4915 | 1165445 |
| &nbsp;&nbsp;&nbsp;&nbsp; Morgan Stanley | 25013 | 2434515 |
| &nbsp;&nbsp;&nbsp;&nbsp; S&P Global | 19682 | 7379569 |
| &nbsp;&nbsp;&nbsp;&nbsp; SVB Financial Group \* | 2474 | 748236 |
|  |  | 32977905 |
|  HEALTH CARE — 18.1% |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; AstraZeneca PLC ADR | 51647 | 3376165 |
| &nbsp;&nbsp;&nbsp;&nbsp; Bio-Techne | 16869 | 1343785 |
| &nbsp;&nbsp;&nbsp;&nbsp; Danaher | 11496 | 3039313 |
| &nbsp;&nbsp;&nbsp;&nbsp; Edwards Lifesciences \* | 28613 | 2194617 |
| &nbsp;&nbsp;&nbsp;&nbsp; Elevance Health | 5183 | 2591448 |
| &nbsp;&nbsp;&nbsp;&nbsp; Eli Lilly | 19476 | 6702665 |
| &nbsp;&nbsp;&nbsp;&nbsp; ICON PLC \* | 9775 | 2255190 |
| &nbsp;&nbsp;&nbsp;&nbsp; IDEXX Laboratories \* | 8294 | 3985267 |

---

**14** 

------

---

| | |
|:---|:---|
| **THE ADVISORS' INNER CIRCLE FUND** | **CIBC ATLAS ALL CAP GROWTH FUND**<br> **JANUARY 31, 2023 (Unaudited)**<br>|

---

------

---

| | | |
|:---|:---|:---|
|  COMMON STOCK\*\* (continued) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Shares | Value |
|  HEALTH CARE (continued) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Intuitive Surgical \* | 18958 | $4657791 |
| &nbsp;&nbsp;&nbsp;&nbsp; Zoetis, Cl A | 23080 | 3819509 |
|  |  | 33965750 |
|  INDUSTRIALS — 11.2% |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Cintas | 8830 | 3918224 |
| &nbsp;&nbsp;&nbsp;&nbsp; CoStar Group \* | 56598 | 4408984 |
| &nbsp;&nbsp;&nbsp;&nbsp; L3Harris Technologies | 10292 | 2210927 |
| &nbsp;&nbsp;&nbsp;&nbsp; Robert Half International | 10576 | 887961 |
| &nbsp;&nbsp;&nbsp;&nbsp; TransDigm Group \* | 5232 | 3755268 |
| &nbsp;&nbsp;&nbsp;&nbsp; United Rentals | 6717 | 2961861 |
| &nbsp;&nbsp;&nbsp;&nbsp; Waste Management | 17809 | 2755587 |
|  |  | 20898812 |
|  INFORMATION TECHNOLOGY — 26.0% |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Adobe \* | 3571 | 1322484 |
| &nbsp;&nbsp;&nbsp;&nbsp; Advanced Micro Devices \* | 34030 | 2557354 |
| &nbsp;&nbsp;&nbsp;&nbsp; Amphenol, Cl A | 43156 | 3442554 |
| &nbsp;&nbsp;&nbsp;&nbsp; Apple | 12089 | 1744322 |
| &nbsp;&nbsp;&nbsp;&nbsp; ASML Holding, Cl G | 2120 | 1400981 |
| &nbsp;&nbsp;&nbsp;&nbsp; CDW | 8238 | 1614895 |
| &nbsp;&nbsp;&nbsp;&nbsp; Entegris | 42086 | 3396761 |
| &nbsp;&nbsp;&nbsp;&nbsp; EPAM Systems \* | 4509 | 1499919 |
| &nbsp;&nbsp;&nbsp;&nbsp; Gartner \* | 5240 | 1771854 |
| &nbsp;&nbsp;&nbsp;&nbsp; Intuit | 3513 | 1484840 |
| &nbsp;&nbsp;&nbsp;&nbsp; Mastercard, Cl A | 20889 | 7741463 |
| &nbsp;&nbsp;&nbsp;&nbsp; Microsoft | 14354 | 3557065 |
| &nbsp;&nbsp;&nbsp;&nbsp; Monolithic Power Systems | 6105 | 2604149 |
| &nbsp;&nbsp;&nbsp;&nbsp; NVIDIA | 6907 | 1349420 |
| &nbsp;&nbsp;&nbsp;&nbsp; Palo Alto Networks \* | 53289 | 8453767 |
| &nbsp;&nbsp;&nbsp;&nbsp; Roper Technologies | 11321 | 4831237 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;48773065 |
|  MATERIALS — 6.7% |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Martin Marietta Materials | 20298 | 7299973 |
| &nbsp;&nbsp;&nbsp;&nbsp; Sherwin-Williams | 22437 | 5308370 |
|  |  | 12608343 |

---

**15** 

------

---

| | |
|:---|:---|
| **THE ADVISORS' INNER CIRCLE FUND** | **CIBC ATLAS ALL CAP GROWTH FUND**<br> **JANUARY 31, 2023 (Unaudited)**<br>|

---

------

---

| | | |
|:---|:---|:---|
|  COMMON STOCK\*\* (continued) | Shares | Value |
|  REAL ESTATE — 1.4% |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; SBA Communications, Cl A ‡ | 8645 | $2572147 |
| &nbsp;&nbsp;&nbsp;&nbsp; TOTAL COMMON STOCK<br>(Cost $127,189,428) |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;183245571 |
|  CASH EQUIVALENT — 1.3% |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; First American Government Obligations Fund, Cl X, 4.140% (A) | 2529036 | 2529036 |
| &nbsp;&nbsp;&nbsp;&nbsp; TOTAL CASH EQUIVALENT<br>(Cost $2,529,036) |  | 2529036 |
|  TOTAL INVESTMENTS — 99.1%<br>(Cost $129,718,464) |  | $185774607 |

---

Percentages are based on Net Assets of $187,406,951.

\* Non-income producing security.

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

‡ Real Estate Investment Trust

(A) The rate reported is the 7-day effective yield as of January 31, 2023.

ADR — American Depositary Receipt

Cl — Class

PLC — Public Limited Company

*ATF-QH-005-0900* 

**16** 

------

---

| | |
|:---|:---|
| **THE ADVISORS' INNER CIRCLE FUND** | **CIBC ATLAS EQUITY INCOME FUND**<br> **JANUARY 31, 2023 (Unaudited)**<br>|

---

------

---

| | | |
|:---|:---|:---|
| SCHEDULE OF INVESTMENTS |  |  |
|  COMMON STOCK — 95.8% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Shares | Value |
|  COMMUNICATION SERVICES — 2.8% |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Comcast, Cl A | 114812 | $4517852 |
| &nbsp;&nbsp;&nbsp;&nbsp; Nexstar Media Group, Cl A | 21030 | 4306313 |
|  |  | 8824165 |
|  CONSUMER DISCRETIONARY — 3.4% |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Dick's Sporting Goods | 36903 | 4825436 |
| &nbsp;&nbsp;&nbsp;&nbsp; Home Depot | 10967 | 3555172 |
| &nbsp;&nbsp;&nbsp;&nbsp; Ralph Lauren, Cl A | 18857 | 2335440 |
|  |  | 10716048 |
|  ENERGY — 8.4% |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Enterprise Products Partners | 543549 | 13914854 |
| &nbsp;&nbsp;&nbsp;&nbsp; EOG Resources | 31963 | 4227107 |
| &nbsp;&nbsp;&nbsp;&nbsp; Magellan Midstream Partners | 156675 | 8366445 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;26508406 |
|  FINANCIALS — 18.4% |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; AllianceBernstein Holding | 62678 | 2376123 |
| &nbsp;&nbsp;&nbsp;&nbsp; Ares Management, Cl A | 51550 | 4278135 |
| &nbsp;&nbsp;&nbsp;&nbsp; Blackstone, Cl A | 115571 | 11090193 |
| &nbsp;&nbsp;&nbsp;&nbsp; Brookfield | 180080 | 6698976 |
| &nbsp;&nbsp;&nbsp;&nbsp; Brookfield Asset Management, Cl A \* | 45020 | 1469903 |
| &nbsp;&nbsp;&nbsp;&nbsp; Charles Schwab | 110609 | 8563349 |
| &nbsp;&nbsp;&nbsp;&nbsp; CME Group, Cl A | 48028 | 8484626 |
| &nbsp;&nbsp;&nbsp;&nbsp; Goldman Sachs Group | 14563 | 5327291 |
| &nbsp;&nbsp;&nbsp;&nbsp; JPMorgan Chase | 33539 | 4694119 |
| &nbsp;&nbsp;&nbsp;&nbsp; Morgan Stanley | 50058 | 4872145 |
|  |  | 57854860 |
|  HEALTH CARE — 18.3% |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Abbott Laboratories | 108986 | 12048402 |
| &nbsp;&nbsp;&nbsp;&nbsp; AbbVie | 27250 | 4026188 |
| &nbsp;&nbsp;&nbsp;&nbsp; AstraZeneca PLC ADR | 184900 | 12086913 |
| &nbsp;&nbsp;&nbsp;&nbsp; Elevance Health | 27214 | 13606728 |
| &nbsp;&nbsp;&nbsp;&nbsp; Eli Lilly | 25274 | 8698047 |
| &nbsp;&nbsp;&nbsp;&nbsp; Johnson & Johnson | 20243 | 3308111 |
| &nbsp;&nbsp;&nbsp;&nbsp; Merck | 31504 | 3383845 |
|  |  | 57158234 |
|  INDUSTRIALS — 6.5% |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; L3Harris Technologies | 45690 | 9815126 |
| &nbsp;&nbsp;&nbsp;&nbsp; Robert Half International | 40525 | 3402479 |

---

**17** 

------

---

| | |
|:---|:---|
| **THE ADVISORS' INNER CIRCLE FUND** | **CIBC ATLAS EQUITY INCOME FUND**<br> **JANUARY 31, 2023 (Unaudited)**<br>|

---

------

---

| | | |
|:---|:---|:---|
|  COMMON STOCK (continued) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Shares | Value |
|  INDUSTRIALS (continued) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Union Pacific | 12619 | $2576673 |
| &nbsp;&nbsp;&nbsp;&nbsp; Waste Management | 30200 | 4672846 |
|  |  | 20467124 |
|  INFORMATION TECHNOLOGY — 15.4% |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Accenture PLC, Cl A | 9003 | 2512287 |
| &nbsp;&nbsp;&nbsp;&nbsp; Apple | 71763 | 10354683 |
| &nbsp;&nbsp;&nbsp;&nbsp; Broadridge Financial Solutions | 40113 | 6031391 |
| &nbsp;&nbsp;&nbsp;&nbsp; International Business Machines | 30513 | 4111017 |
| &nbsp;&nbsp;&nbsp;&nbsp; Microchip Technology | 87699 | 6807196 |
| &nbsp;&nbsp;&nbsp;&nbsp; Microsoft | 44362 | 10993347 |
| &nbsp;&nbsp;&nbsp;&nbsp; Texas Instruments | 42303 | 7496515 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;48306436 |
|  REAL ESTATE — 12.6% |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; American Tower, Cl A ‡ | 51310 | 11462141 |
| &nbsp;&nbsp;&nbsp;&nbsp; Equinix ‡ | 7112 | 5249581 |
| &nbsp;&nbsp;&nbsp;&nbsp; Iron Mountain ‡ | 97331 | 5312326 |
| &nbsp;&nbsp;&nbsp;&nbsp; Prologis ‡ | 40423 | 5225885 |
| &nbsp;&nbsp;&nbsp;&nbsp; VICI Properties, Cl A ‡ | 357506 | 12219555 |
|  |  | 39469488 |
|  UTILITIES — 10.0% |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Brookfield Infrastructure Partners | 255638 | 9034247 |
| &nbsp;&nbsp;&nbsp;&nbsp; Brookfield Renewable Partners | 318840 | 9294186 |
| &nbsp;&nbsp;&nbsp;&nbsp; NextEra Energy | 63070 | 4706914 |
| &nbsp;&nbsp;&nbsp;&nbsp; NextEra Energy Partners | 81908 | 6003857 |
| &nbsp;&nbsp;&nbsp;&nbsp; Xcel Energy | 33294 | 2289628 |
|  |  | 31328832 |
| &nbsp;&nbsp;&nbsp;&nbsp; TOTAL COMMON STOCK<br>(Cost $230,781,821) |  | 300633593 |
|  CASH EQUIVALENT — 4.0% |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; First American Government Obligations Fund, Cl X, 4.140% (A) | 12660740 | 12660740 |
| &nbsp;&nbsp;&nbsp;&nbsp; TOTAL CASH EQUIVALENT<br>(Cost $12,660,740) |  | 12660740 |
|  TOTAL INVESTMENTS — 99.8%<br>(Cost $243,442,561) |  | $313294333 |

---

**18** 

------

---

| | |
|:---|:---|
| **THE ADVISORS' INNER CIRCLE FUND** | **CIBC ATLAS EQUITY INCOME FUND**<br> **JANUARY 31, 2023 (Unaudited)**<br>|

---

------

Percentages are based on Net Assets of $314,028,932.

\* Non-income producing security.

‡ Real Estate Investment Trust

(A) The rate reported is the 7-day effective yield as of January 31, 2023.

ADR — American Depositary Receipt

Cl — Class

PLC — Public Limited Company

*ATF-QH-006-0900* 

**19** 

------

---

| | |
|:---|:---|
| **THE ADVISORS' INNER CIRCLE FUND** | **CIBC ATLAS INTERNATIONAL**<br> **GROWTH FUND**<br> **JANUARY 31, 2023 (Unaudited)** |

---

------

---

| | | |
|:---|:---|:---|
| SCHEDULE OF INVESTMENTS |  |  |
|  COMMON STOCK — 95.8% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Shares | Value |
|  AUSTRALIA — 3.5% |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; BHP Group | 311265 | $10901184 |
| &nbsp;&nbsp;&nbsp;&nbsp; Woodside Energy Group | 149588 | 3873419 |
|  |  | 14774603 |
|  BRAZIL — 1.8% |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; MercadoLibre \* | 6378 | 7536819 |
|  CANADA — 4.8% |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Brookfield | 178036 | 6622939 |
| &nbsp;&nbsp;&nbsp;&nbsp; Canadian National Railway | 54462 | 6485880 |
| &nbsp;&nbsp;&nbsp;&nbsp; Ritchie Bros Auctioneers | 117915 | 7130320 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20239139 |
|  CHINA — 8.2% |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Alibaba Group Holding ADR \* | 74691 | 8230948 |
| &nbsp;&nbsp;&nbsp;&nbsp; Alibaba Group Holding \* | 235000 | 3230937 |
| &nbsp;&nbsp;&nbsp;&nbsp; Meituan, Cl B \* | 23100 | 516421 |
| &nbsp;&nbsp;&nbsp;&nbsp; Tencent Holdings | 236000 | 11500025 |
| &nbsp;&nbsp;&nbsp;&nbsp; Yum China Holdings | 175910 | 10837815 |
|  |  | 34316146 |
|  DENMARK — 1.4% |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Vestas Wind Systems | 202343 | 5920879 |
|  FRANCE — 5.9% |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Air Liquide | 60865 | 9691258 |
| &nbsp;&nbsp;&nbsp;&nbsp; Airbus | 49365 | 6188662 |
| &nbsp;&nbsp;&nbsp;&nbsp; LVMH Moet Hennessy Louis Vuitton | 10206 | 8909551 |
|  |  | 24789471 |
|  GERMANY — 5.4% |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; HeidelbergCement | 98108 | 6731891 |
| &nbsp;&nbsp;&nbsp;&nbsp; Siemens | 55187 | 8620466 |
| &nbsp;&nbsp;&nbsp;&nbsp; Symrise, Cl A | 68879 | 7322472 |
|  |  | 22674829 |
|  HONG KONG — 2.6% |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; AIA Group | 970500 | 10974072 |

---

**20** 

------

---

| | |
|:---|:---|
| **THE ADVISORS' INNER CIRCLE FUND** | **CIBC ATLAS INTERNATIONAL**<br> **GROWTH FUND**<br> **JANUARY 31, 2023 (Unaudited)** |

---

------

---

| | | |
|:---|:---|:---|
|  COMMON STOCK (continued) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Shares | Value |
|  INDIA — 2.9% |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; HDFC Bank ADR | 181438 | $12221664 |
|  IRELAND — 2.0% |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; ICON PLC \* | 36337 | 8383309 |
|  ITALY — 1.2% |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Ferrari | 20419 | 5102363 |
|  JAPAN — 11.2% |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Daikin Industries | 39000 | 6774094 |
| &nbsp;&nbsp;&nbsp;&nbsp; FANUC | 50000 | 8834485 |
| &nbsp;&nbsp;&nbsp;&nbsp; Nidec | 79000 | 4378089 |
| &nbsp;&nbsp;&nbsp;&nbsp; Sony Group | 84000 | 7505533 |
| &nbsp;&nbsp;&nbsp;&nbsp; Sysmex | 89000 | 5908273 |
| &nbsp;&nbsp;&nbsp;&nbsp; Tokio Marine Holdings | 269000 | 5634128 |
| &nbsp;&nbsp;&nbsp;&nbsp; Toyota Motor | 551000 | 8091833 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;47126435 |
|  MEXICO — 1.2% |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Fomento Economico Mexicano ADR | 57319 | 5032608 |
|  NETHERLANDS — 1.9% |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; ASML Holding | 12023 | 7954956 |
|  NORWAY — 1.5% |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Equinor | 207435 | 6321927 |
|  SINGAPORE — 2.7% |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; DBS Group Holdings | 415000 | 11361153 |
|  SPAIN — 4.9% |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Amadeus IT Group \* | 162267 | 10223421 |
| &nbsp;&nbsp;&nbsp;&nbsp; Banco Santander | 2910229 | 10171032 |
|  |  | 20394453 |
|  SWEDEN — 2.8% |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Assa Abloy, Cl B | 287671 | 6776453 |
| &nbsp;&nbsp;&nbsp;&nbsp; Hexagon, Cl B | 431978 | 4951982 |
|  |  | 11728435 |

---

**21** 

------

---

| | |
|:---|:---|
| **THE ADVISORS' INNER CIRCLE FUND** | **CIBC ATLAS INTERNATIONAL**<br> **GROWTH FUND**<br> **JANUARY 31, 2023 (Unaudited)** |

---

------

---

| | | |
|:---|:---|:---|
|  COMMON STOCK (continued) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Shares | Value |
|  SWITZERLAND — 8.3% |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Alcon | 108182 | $8163258 |
| &nbsp;&nbsp;&nbsp;&nbsp; Chubb | 37963 | 8636203 |
| &nbsp;&nbsp;&nbsp;&nbsp; Julius Baer Group | 141538 | 9078865 |
| &nbsp;&nbsp;&nbsp;&nbsp; Novartis | 96389 | 8714441 |
|  |  | 34592767 |
|  TAIWAN — 1.6% |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Taiwan Semiconductor Manufacturing ADR | 71936 | 6670625 |
|  UNITED KINGDOM — 18.4% |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; AstraZeneca PLC | 73253 | 9597046 |
| &nbsp;&nbsp;&nbsp;&nbsp; BAE Systems PLC | 1055208 | 11170469 |
| &nbsp;&nbsp;&nbsp;&nbsp; Compass Group PLC | 405774 | 9693123 |
| &nbsp;&nbsp;&nbsp;&nbsp; Diageo PLC | 172076 | 7524202 |
| &nbsp;&nbsp;&nbsp;&nbsp; InterContinental Hotels Group PLC | 131579 | 9134677 |
| &nbsp;&nbsp;&nbsp;&nbsp; Lloyds Banking Group PLC | 18476363 | 12024317 |
| &nbsp;&nbsp;&nbsp;&nbsp; London Stock Exchange Group PLC | 80613 | 7379704 |
| &nbsp;&nbsp;&nbsp;&nbsp; Shell PLC | 359612 | 10557397 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;77080935 |
|  UNITED STATES — 1.6% |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Euronet Worldwide \* | 60060 | 6767561 |
| &nbsp;&nbsp;&nbsp;&nbsp; TOTAL COMMON STOCK<br>(Cost $368,405,260) |  | 401965149 |
|  CASH EQUIVALENT — 3.8% |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; First American Government Obligations Fund, Cl X, 4.140% (A) | 15814239 | 15814239 |
| &nbsp;&nbsp;&nbsp;&nbsp; TOTAL CASH EQUIVALENT<br>(Cost $15,814,239) |  | 15814239 |
|  TOTAL INVESTMENTS — 99.6%<br>(Cost $384,219,499) |  | $417779388 |

---

Percentages are based on Net Assets of $419,515,140.

\* Non-income producing security.

(A) The rate reported is the 7-day effective yield as of January 31, 2023.

**22** 

------

---

| | |
|:---|:---|
| **THE ADVISORS' INNER CIRCLE FUND** | **CIBC ATLAS INTERNATIONAL**<br> **GROWTH FUND**<br> **JANUARY 31, 2023 (Unaudited)** |

---

------

ADR — American Depositary Receipt

Cl — Class

PLC — Public Limited Company

*ATF-QH-007-0800* 

**23**

## Form NPORT-P: Monthly Portfolio Investments Report

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

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

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

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

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

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

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

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

  - **City:** OAKS

  - **State:** PA

  - **Foreign country:** US

  - **Zip / Postal Code:** 19456

  - **Telephone number:** 8774463863

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

- **a. Name of Series:** CIBC ATLAS INCOME OPPORTUNITIES FUND

- **b. EDGAR series identifier (if any):** S000042154

- **c. LEI of Series:** 549300TFUIUHZZ0EWC26

**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:** $626486620.65

**Total Liabilities:** $4587411.62

**Net Assets:** $621899209.03

**Currency Risk Metrics (dv01):**

- 

**Credit Spread Risk - Investment Grade (dv01):**

- **3-Month:** -213.14554875 | **1-Year:** -8020.13618151 | **5-Year:** -21216.76057534 | **10-Year:** -24218.56030990 | **30-Year:** -18141.88291030

**Credit Spread Risk - Non-Investment Grade (dv01):**

- **3-Month:** -20.04043380 | **1-Year:** -1346.08885635 | **5-Year:** -3445.86443431 | **10-Year:** -282.00324367 | **30-Year:** 0.00000000

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000130895 | 3.96%                | -3.86%               | 5.11%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $462144.31               | $23723396.91                               |
| Month 2  | $-105.50                 | $-25949307.64                              |
| Month 3  | $2074445.14              | $26926617.27                               |

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| REPUBLIC SERVICES, INC.                                                | REPUBLIC SERVICES INC COMMON STOCK                                      | CUSIP: 760759100<br>LEI: NKNQHM6BLECKVOQP7O46 | Long             | EC               |  | US        |     72900 | NS      | $9099378.00   | 1.46%             |  |  |  | No            |                  1 | On Loan: No      |
| APPLE INC.                                                             | APPLE INC 3.850000% 08/04/2046                                          | CUSIP: 037833CD0<br>LEI: HWUPKR0MPOU8FGXBT394 | Long             | DBT              | CORP              | US        |   3000000 | PA      | $2700539.46   | 0.43%             | 2046-08-04      | Fixed         | 3.85%                 | No            |                  2 | On Loan: No      |
| ARES MANAGEMENT CORPORATION                                            | ARES MANAGEMENT CORP - A COMMON STOCK                                   | CUSIP: 03990B101<br>LEI: 529900JUV61FH7B8VW38 | Long             | EC               |  | US        |     88130 | NS      | $7313908.70   | 1.18%             |  |  |  | No            |                  1 | On Loan: No      |
| THE GOLDMAN SACHS GROUP, INC.                                          | GOLDMAN SACHS GROUP INC/THE MTN VARIABLE RATE 10/28/2027                | CUSIP: 38141GVX9<br>LEI: 784F5XWPLTWKTBV3E584 | Long             | DBT              | CORP              | US        |   3000000 | PA      | $3088059.00   | 0.50%             | 2027-10-28      | Floating      | 6.55%                 | No            |                  2 | On Loan: No      |
| CROWN CASTLE INC.                                                      | Crown Castle Inc REIT                                                   | CUSIP: 22822V101<br>LEI: 54930012H97VSM0I2R19 | Long             | EC               |  | US        |     32978 | NS      | $4884371.58   | 0.79%             |  |  |  | No            |                  1 | On Loan: No      |
| CHEVRON CORPORATION                                                    | CHEVRON CORP COMMON STOCK                                               | CUSIP: 166764100<br>LEI: N/A                  | Long             | EC               |  | US        |     76398 | NS      | $13294779.96  | 2.14%             |  |  |  | No            |                  1 | On Loan: No      |
| THE WESTERN UNION COMPANY                                              | WESTERN UNION CO/THE 2.850000% 01/10/2025                               | CUSIP: 959802AY5<br>LEI: 28ID94QU1140NC23S047 | Long             | DBT              | CORP              | US        |   4500000 | PA      | $4324134.60   | 0.70%             | 2025-01-10      | Fixed         | 2.85%                 | No            |                  2 | On Loan: No      |
| COSTCO WHOLESALE CORPORATION                                           | COSTCO WHOLESALE CORP COMMON STOCK                                      | CUSIP: 22160K105<br>LEI: 29DX7H14B9S6O3FD6V18 | Long             | EC               |  | US        |      9660 | NS      | $4937612.40   | 0.79%             |  |  |  | No            |                  1 | On Loan: No      |
| AMAZON.COM, INC.                                                       | AMZN US 02/17/23 C100 SHORT                                             | CUSIP: N/A<br>LEI: ZXTILKJKG63JELOEG630       | N/A              | DE               |  | US        |     -1143 | NC      | $-800100.00   | -0.13%            |  |  |  | No            |                  1 | On Loan: No      |
| United States of America                                               | US TREASURY N/B 1.625000% 05/15/2031                                    | CUSIP: 91282CCB5<br>LEI: 254900HROIFWPRGM1V77 | Long             | SN               | UST               | US        |  10000000 | PA      | $8700390.60   | 1.40%             | 2031-05-15      | Fixed         | 1.62%                 | No            |                  1 | On Loan: No      |
| FIDELITY NATIONAL INFORMATION SERVICES, INC.                           | FIDELITY NATIONAL INFO SERV COMMON STOCK                                | CUSIP: 31620M106<br>LEI: 6WQI0GK1PRFVBA061U48 | Long             | EC               |  | US        |     74500 | NS      | $5590480.00   | 0.90%             |  |  |  | No            |                  1 | On Loan: No      |
| T-MOBILE USA, INC.                                                     | T-MOBILE USA INC 3.500000% 04/15/2031                                   | CUSIP: 87264ABW4<br>LEI: 549300V2JRLO5DIFGE82 | Long             | DBT              | CORP              | US        |   5000000 | PA      | $4474248.75   | 0.72%             | 2031-04-15      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| First American Funds, Inc: Government Obligations Fund; Class X Shares | FIRST AMERICAN GOVERNMENT OBLIGATIONS FUND CLASS X CLASS X              | CUSIP: 31846V336<br>LEI: N/A                  | Long             | STIV             |  | US        |  15212669 | PA      | $15212668.79  | 2.45%             |  |  |  | No            |                  2 | On Loan: No      |
| MICROCHIP TECHNOLOGY INCORPORATED                                      | MICROCHIP TECHNOLOGY INC COMMON STOCK                                   | CUSIP: 595017104<br>LEI: 5493007PTFULNYZJ1R12 | Long             | EC               |  | US        |    140036 | NS      | $10869594.32  | 1.75%             |  |  |  | No            |                  1 | On Loan: No      |
| HCA INC.                                                               | HCA INC 5.000000% 03/15/2024                                            | CUSIP: 404119BN8<br>LEI: L3CJ6J7LJ2DX62FTXD46 | Long             | DBT              | CORP              | US        |   1250000 | PA      | $1247062.76   | 0.20%             | 2024-03-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| BROADCOM INC.                                                          | BROADCOM INC COMMON STOCK                                               | CUSIP: 11135F101<br>LEI: 549300WV6GIDOZJTV909 | Long             | EC               |  | US        |     23534 | NS      | $13767625.34  | 2.21%             |  |  |  | No            |                  1 | On Loan: No      |
| WELLS FARGO & COMPANY                                                  | WELLS FARGO & CO MTN 4.100000% 06/03/2026                               | CUSIP: 94974BFY1<br>LEI: PBLD0EJDB5FWOLXP3B76 | Long             | DBT              | CORP              | US        |   3000000 | PA      | $2948690.64   | 0.47%             | 2026-06-03      | Fixed         | 4.10%                 | No            |                  2 | On Loan: No      |
| ARES CAPITAL CORPORATION.                                              | ARES CAPITAL CORP 3.875000% 01/15/2026                                  | CUSIP: 04010LAZ6<br>LEI: WEQ82666OJYSI5GUAB47 | Long             | DBT              | CORP              | US        |   5000000 | PA      | $4703326.40   | 0.76%             | 2026-01-15      | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| JPMORGAN CHASE & CO.                                                   | JPMORGAN CHASE & CO 5.000000% MATURITY: PERPETUAL                       | CUSIP: 48128BAF8<br>LEI: 8I5DZWZKVSZI1NUHU748 | Long             | DBT              | CORP              | US        |   2000000 | PA      | $1945000.00   | 0.31%             | 2172-02-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| JOHNSON & JOHNSON                                                      | JOHNSON & JOHNSON COMMON STOCK                                          | CUSIP: 478160104<br>LEI: 549300G0CFPGEF6X2043 | Long             | EC               |  | US        |     66985 | NS      | $10946688.70  | 1.76%             |  |  |  | No            |                  1 | On Loan: No      |
| APPLE INC.                                                             | APPLE INC COMMON STOCK                                                  | CUSIP: 037833100<br>LEI: HWUPKR0MPOU8FGXBT394 | Long             | EC               |  | US        |    175690 | NS      | $25350310.10  | 4.08%             |  |  |  | No            |                  1 | On Loan: No      |
| IDEX CORPORATION                                                       | IDEX CORP COMMON STOCK                                                  | CUSIP: 45167R104<br>LEI: 549300U5Y5EL6PHYLF13 | Long             | EC               |  | US        |     36625 | NS      | $8778280.00   | 1.41%             |  |  |  | No            |                  1 | On Loan: No      |
| WEYERHAEUSER COMPANY                                                   | WEYERHAEUSER CO REIT                                                    | CUSIP: 962166104<br>LEI: 08IRJODWFYBI7QWRGS31 | Long             | EC               |  | US        |     85884 | NS      | $2956986.12   | 0.48%             |  |  |  | No            |                  1 | On Loan: No      |
| ORACLE CORPORATION                                                     | ORACLE CORP 6.150000% 11/09/2029                                        | CUSIP: 68389XCH6<br>LEI: 1Z4GXXU7ZHVWFCD8TV52 | Long             | DBT              | CORP              | US        |   3000000 | PA      | $3206562.12   | 0.52%             | 2029-11-09      | Fixed         | 6.15%                 | No            |                  2 | On Loan: No      |
| TRITON INTERNATIONAL LIMITED                                           | TRITON INTERNATIONAL LTD COMMON STOCK                                   | CUSIP: G9078F107<br>LEI: N/A                  | Long             | EC               |  | US        |     43503 | NS      | $3073051.92   | 0.49%             |  |  |  | No            |                  1 | On Loan: No      |
| THE GOLDMAN SACHS GROUP, INC.                                          | GOLDMAN SACHS GROUP INC/THE 1.217000% 12/06/2023                        | CUSIP: 38141GZE7<br>LEI: 784F5XWPLTWKTBV3E584 | Long             | DBT              | CORP              | US        |   4000000 | PA      | $3876618.24   | 0.62%             | 2023-12-06      | Fixed         | 1.22%                 | No            |                  2 | On Loan: No      |
| SALESFORCE, INC.                                                       | SALESFORCE INC 3.700000% 04/11/2028                                     | CUSIP: 79466LAF1<br>LEI: RCGZFPDMRW58VJ54VR07 | Long             | DBT              | CORP              | US        |   3000000 | PA      | $2936396.34   | 0.47%             | 2028-04-11      | Fixed         | 3.70%                 | No            |                  2 | On Loan: No      |
| HANNON ARMSTRONG SUSTAINABLE INFRASTRUCTURE CAPITAL, INC.              | HANNON ARMSTRONG SUSTAINABLE REIT                                       | CUSIP: 41068X100<br>LEI: N/A                  | Long             | EC               |  | US        |     59590 | NS      | $2199466.90   | 0.35%             |  |  |  | No            |                  1 | On Loan: No      |
| INVITATION HOMES INC.                                                  | INVITATION HOMES INC REIT                                               | CUSIP: 46187W107<br>LEI: 984500FE452E665C9F85 | Long             | EC               |  | US        |    134357 | NS      | $4366602.50   | 0.70%             |  |  |  | No            |                  1 | On Loan: No      |
| Northrop Grumman Corporation                                           | NORTHROP GRUMMAN CORP 4.030000% 10/15/2047                              | CUSIP: 666807BP6<br>LEI: RIMU48P07456QXSO0R61 | Long             | DBT              | CORP              | US        |   2000000 | PA      | $1762030.48   | 0.28%             | 2047-10-15      | Fixed         | 4.03%                 | No            |                  2 | On Loan: No      |
| BANK OF AMERICA CORPORATION                                            | BANK OF AMERICA CORP 5.200000% MATURITY: PERPETUAL                      | CUSIP: 060505ED2<br>LEI: 9DJT3UXIJIZJI4WXO774 | Long             | DBT              | CORP              | US        |   2000000 | PA      | $1980348.90   | 0.32%             | 2167-12-01      | Fixed         | 5.20%                 | No            |                  2 | On Loan: No      |
| LOCKHEED MARTIN CORPORATION                                            | LOCKHEED MARTIN CORP COMMON STOCK                                       | CUSIP: 539830109<br>LEI: DPRBOZP0K5RM2YE8UU08 | Long             | EC               |  | US        |     24964 | NS      | $11564822.64  | 1.86%             |  |  |  | No            |                  1 | On Loan: No      |
| THE HOME DEPOT, INC.                                                   | HOME DEPOT INC COMMON STOCK                                             | CUSIP: 437076102<br>LEI: QEKMOTMBBKA8I816DO57 | Long             | EC               |  | US        |     34795 | NS      | $11279495.15  | 1.81%             |  |  |  | No            |                  1 | On Loan: No      |
| GOLUB CAPITAL BDC, INC.                                                | GOLUB CAPITAL BDC INC COMMON STOCK                                      | CUSIP: 38173M102<br>LEI: 2549005WE0QLGK9APF78 | Long             | EC               |  | US        |    402350 | NS      | $5512195.00   | 0.89%             |  |  |  | No            |                  1 | On Loan: No      |
| WELLS FARGO & COMPANY                                                  | Wells Fargo & Co PREFERRED STOCK                                        | CUSIP: 949746804<br>LEI: PBLD0EJDB5FWOLXP3B76 | Long             | EP               |  | US        |      1700 | NS      | $2138583.00   | 0.34%             |  |  |  | No            |                  1 | On Loan: No      |
| FORD MOTOR CREDIT COMPANY LLC                                          | FORD MOTOR CREDIT CO LLC 6.950000% 03/06/2026                           | CUSIP: 345397C43<br>LEI: UDSQCVRUX5BONN0VY111 | Long             | DBT              | CORP              | US        |   2000000 | PA      | $2045160.00   | 0.33%             | 2026-03-06      | Fixed         | 6.95%                 | No            |                  2 | On Loan: No      |
| United States of America                                               | US TREASURY N/B 3.000000% 02/15/2048                                    | CUSIP: 912810SA7<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |  10000000 | PA      | $8807031.20   | 1.42%             | 2048-02-15      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| HCA INC.                                                               | HCA INC 5.375000% 02/01/2025                                            | CUSIP: 404119BR9<br>LEI: L3CJ6J7LJ2DX62FTXD46 | Long             | DBT              | CORP              | US        |   3050000 | PA      | $3061520.95   | 0.49%             | 2025-02-01      | Fixed         | 5.38%                 | No            |                  2 | On Loan: No      |
| LINDE PUBLIC LIMITED COMPANY                                           | LINDE PLC COMMON STOCK                                                  | CUSIP: G5494J103<br>LEI: 8945002PAZHZLBGKGF02 | Long             | EC               |  | US        |     32136 | NS      | $10635087.84  | 1.71%             |  |  |  | No            |                  1 | On Loan: No      |
| Novartis AG                                                            | NOVARTIS AG-SPONSORED ADR DEPOSITARY RECEIPT                            | CUSIP: 66987V109<br>LEI: 5493007HIVTX6SY6XD66 | Long             | EC               |  | US        |     69438 | NS      | $6292471.56   | 1.01%             |  |  |  | No            |                  1 | On Loan: No      |
| KINDER MORGAN, INC.                                                    | KINDER MORGAN INC MTN 7.800000% 08/01/2031                              | CUSIP: 28368EAD8<br>LEI: 549300WR7IX8XE0TBO16 | Long             | DBT              | CORP              | US        |   1400000 | PA      | $1615427.52   | 0.26%             | 2031-08-01      | Fixed         | 7.80%                 | No            |                  2 | On Loan: No      |
| S&P GLOBAL INC.                                                        | S&P GLOBAL INC COMMON STOCK                                             | CUSIP: 78409V104<br>LEI: Y6X4K52KMJMZE7I7MY94 | Long             | EC               |  | US        |     23905 | NS      | $8962940.70   | 1.44%             |  |  |  | No            |                  1 | On Loan: No      |
| ALLY FINANCIAL INC.                                                    | ALLY FINANCIAL INC 2.200000% 11/02/2028                                 | CUSIP: 02005NBP4<br>LEI: 549300JBN1OSM8YNAI90 | Long             | DBT              | CORP              | US        |   5000000 | PA      | $4178033.20   | 0.67%             | 2028-11-02      | Fixed         | 2.20%                 | No            |                  2 | On Loan: No      |
| VAIL RESORTS, INC.                                                     | VAIL RESORTS INC COMMON STOCK                                           | CUSIP: 91879Q109<br>LEI: 529900PSZHRNU9HKH870 | Long             | EC               |  | US        |     25295 | NS      | $6635890.30   | 1.07%             |  |  |  | No            |                  1 | On Loan: No      |
| VISA INC.                                                              | VISA INC-CLASS A SHARES COMMON STOCK                                    | CUSIP: 92826C839<br>LEI: 549300JZ4OKEHW3DPJ59 | Long             | EC               |  | US        |     52562 | NS      | $12100298.02  | 1.95%             |  |  |  | No            |                  1 | On Loan: No      |
| BROADCOM INC.                                                          | BROADCOM INC 144A 3.469000% 04/15/2034                                  | CUSIP: 11135FBL4<br>LEI: 549300WV6GIDOZJTV909 | Long             | DBT              | CORP              | US        |   2500000 | PA      | $2072818.70   | 0.33%             | 2034-04-15      | Fixed         | 3.47%                 | Yes           |                  2 | On Loan: No      |
| AMAZON.COM, INC.                                                       | AMAZON.COM INC COMMON STOCK                                             | CUSIP: 023135106<br>LEI: ZXTILKJKG63JELOEG630 | Long             | EC               |  | US        |    114360 | NS      | $11793946.80  | 1.90%             |  |  |  | No            |                  1 | On Loan: No      |
| NEXTERA ENERGY, INC.                                                   | NEXTERA ENERGY INC COMMON STOCK                                         | CUSIP: 65339F101<br>LEI: N/A                  | Long             | EC               |  | US        |    149010 | NS      | $11120616.30  | 1.79%             |  |  |  | No            |                  1 | On Loan: No      |
| BANK OF AMERICA CORPORATION                                            | BANK OF AMERICA CORP MTN 3.950000% 04/21/2025                           | CUSIP: 06051GFP9<br>LEI: 9DJT3UXIJIZJI4WXO774 | Long             | DBT              | CORP              | US        |   5750000 | PA      | $5654144.91   | 0.91%             | 2025-04-21      | Fixed         | 3.95%                 | No            |                  2 | On Loan: No      |
| ROLLINS, INC.                                                          | ROLLINS INC COMMON STOCK                                                | CUSIP: 775711104<br>LEI: 549300F2A0BXT4SGWD84 | Long             | EC               |  | US        |    149250 | NS      | $5432700.00   | 0.87%             |  |  |  | No            |                  1 | On Loan: No      |
| UNITED PARCEL SERVICE, INC.                                            | UNITED PARCEL SERVICE-CL B COMMON STOCK                                 | CUSIP: 911312106<br>LEI: D01LMJZU09ULLNCY6Z23 | Long             | EC               |  | US        |     42892 | NS      | $7944885.16   | 1.28%             |  |  |  | No            |                  1 | On Loan: No      |
| NOVA Chemicals Corporation                                             | NOVA CHEMICALS CORP 144A 5.000000% 05/01/2025                           | CUSIP: 66977WAP4<br>LEI: N/A                  | Long             | DBT              | NUSS              | CA        |   2000000 | PA      | $1923317.64   | 0.31%             | 2025-05-01      | Fixed         | 5.00%                 | Yes           |                  2 | On Loan: No      |
| iShares National Muni Bond ETF                                         | ISHARES NATIONAL MUNI BOND E MUTUAL FUND                                | CUSIP: 464288414<br>LEI: N/A                  | Long             | EC               | RF                | US        |     53290 | NS      | $5761714.80   | 0.93%             |  |  |  | No            |                  1 | On Loan: No      |
| VICI PROPERTIES INC.                                                   | VICI PROPERTIES INC REIT                                                | CUSIP: 925652109<br>LEI: 254900RKH6RY9KCJQH63 | Long             | EC               |  | US        |    144626 | NS      | $4943316.68   | 0.79%             |  |  |  | No            |                  1 | On Loan: No      |
| NEWELL BRANDS INC.                                                     | NEWELL BRANDS INC 4.450000% 04/01/2026                                  | CUSIP: 651229AW6<br>LEI: 549300LWGYFM1TVO1Z12 | Long             | DBT              | CORP              | US        |   5000000 | PA      | $4750200.00   | 0.76%             | 2026-04-01      | Fixed         | 4.45%                 | No            |                  2 | On Loan: No      |
| VICI PROPERTIES L.P.                                                   | VICI PROPERTIES LP 5.125000% 05/15/2032                                 | CUSIP: 925650AD5<br>LEI: 254900X4QE7SGKQLLN38 | Long             | DBT              | CORP              | US        |   4000000 | PA      | $3826400.00   | 0.62%             | 2032-05-15      | Fixed         | 5.12%                 | No            |                  2 | On Loan: No      |
| ABBVIE INC.                                                            | ABBVIE INC 4.250000% 11/21/2049                                         | CUSIP: 00287YCB3<br>LEI: FR5LCKFTG8054YNNRU85 | Long             | DBT              | CORP              | US        |   3500000 | PA      | $3133073.30   | 0.50%             | 2049-11-21      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| ARES CAPITAL CORPORATION.                                              | ARES CAPITAL CORP COMMON STOCK                                          | CUSIP: 04010L103<br>LEI: WEQ82666OJYSI5GUAB47 | Long             | EC               |  | US        |    326422 | NS      | $6322794.14   | 1.02%             |  |  |  | No            |                  1 | On Loan: No      |
| United States of America                                               | US TREASURY N/B 2.000000% 08/15/2025                                    | CUSIP: 912828K74<br>LEI: 254900HROIFWPRGM1V77 | Long             | SN               | UST               | US        |  10000000 | PA      | $9521093.80   | 1.53%             | 2025-08-15      | Fixed         | 2.00%                 | No            |                  1 | On Loan: No      |
| THE PNC FINANCIAL SERVICES GROUP, INC.                                 | PNC FINANCIAL SERVICES GROUP INC/THE MATURITY: PERPETUAL                | CUSIP: 693475AK1<br>LEI: CFGNEKW0P8842LEUIA51 | Long             | DBT              | CORP              | US        |   2500000 | PA      | $2506247.80   | 0.40%             | 2172-02-01      | Floating      | 8.12%                 | No            |                  2 | On Loan: No      |
| COMMSCOPE TECHNOLOGIES LLC                                             | COMMSCOPE TECHNOLOGIES LLC 144A 6.000000% 06/15/2025                    | CUSIP: 20337YAA5<br>LEI: M4TWC4QDOKW45N7T6Y12 | Long             | DBT              | CORP              | US        |   1734000 | PA      | $1642150.02   | 0.26%             | 2025-06-15      | Fixed         | 6.00%                 | Yes           |                  2 | On Loan: No      |
| N/A                                                                    | J.P. MORGAN CASH COLLATERAL INTEREST                                    | CUSIP: N/A<br>LEI: N/A                        | Long             | STIV             |  | US        |     25000 | PA      | $25000.00     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| DISCOVERY COMMUNICATIONS, LLC                                          | DISCOVERY COMMUNICATIONS LLC 3.800000% 03/13/2024                       | CUSIP: 25470DAM1<br>LEI: L2Z2MO2EQURH3BREWI15 | Long             | DBT              | CORP              | US        |   3150000 | PA      | $3096197.72   | 0.50%             | 2024-03-13      | Fixed         | 3.80%                 | No            |                  2 | On Loan: No      |
| JPMORGAN CHASE & CO.                                                   | JPMORGAN CHASE & CO COMMON STOCK                                        | CUSIP: 46625H100<br>LEI: 8I5DZWZKVSZI1NUHU748 | Long             | EC               |  | US        |     72496 | NS      | $10146540.16  | 1.63%             |  |  |  | No            |                  1 | On Loan: No      |
| Federal National Mortgage Association                                  | FANNIE MAE POOL FN BW2258                                               | CUSIP: 3140MTQL0<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | DBT              | USGA              | US        |  13009306 | PA      | $12860752.37  | 2.07%             | 2052-07-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| JPMORGAN CHASE & CO.                                                   | JPMORGAN CHASE & CO 6.000000% MATURITY: PERPETUAL                       | CUSIP: 48126HAA8<br>LEI: 8I5DZWZKVSZI1NUHU748 | Long             | DBT              | CORP              | US        |   1500000 | PA      | $1494375.00   | 0.24%             | 2172-02-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| JPMORGAN CHASE & CO.                                                   | JPMORGAN CHASE & CO 4.625000% MATURITY: PERPETUAL                       | CUSIP: 48128BAD3<br>LEI: 8I5DZWZKVSZI1NUHU748 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $995000.00    | 0.16%             | 2171-05-01      | Fixed         | 4.62%                 | No            |                  2 | On Loan: No      |
| AerCap Ireland Capital Designated Activity Company                     | AERCAP IRELAND CAPITAL DAC / AERCAP GLOBAL AVIATIO 3.000000% 10/29/2028 | CUSIP: 00774MAW5<br>LEI: 549300TI38531ODB1G63 | Long             | DBT              | NUSS              | IE        |   1000000 | PA      | $881541.80    | 0.14%             | 2028-10-29      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| MERITAGE HOMES CORPORATION                                             | MERITAGE HOMES CORP 144A 3.875000% 04/15/2029                           | CUSIP: 59001ABD3<br>LEI: 52990044W9UMFJO2FB97 | Long             | DBT              | CORP              | US        |   3000000 | PA      | $2658750.00   | 0.43%             | 2029-04-15      | Fixed         | 3.88%                 | Yes           |                  2 | On Loan: No      |
| UNION PACIFIC CORPORATION                                              | UNION PACIFIC CORP COMMON STOCK                                         | CUSIP: 907818108<br>LEI: 549300LMMRSZZCZ8CL11 | Long             | EC               |  | US        |     37522 | NS      | $7661617.18   | 1.23%             |  |  |  | No            |                  1 | On Loan: No      |
| BOSTON PROPERTIES LIMITED PARTNERSHIP                                  | BOSTON PROPERTIES LP 2.750000% 10/01/2026                               | CUSIP: 10112RAY0<br>LEI: BVHHEFJI6SHNOKQT2572 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $919417.97    | 0.15%             | 2026-10-01      | Fixed         | 2.75%                 | No            |                  2 | On Loan: No      |
| CISCO SYSTEMS, INC.                                                    | CISCO SYSTEMS INC COMMON STOCK                                          | CUSIP: 17275R102<br>LEI: 549300LKFJ962MZ46593 | Long             | EC               |  | US        |    142199 | NS      | $6920825.33   | 1.11%             |  |  |  | No            |                  1 | On Loan: No      |
| United States of America                                               | U.S. TREASURY INFLATION-PROTECTED SECURITIES 0-1/2% 01/15/2028          | CUSIP: 9128283R9<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | USGA              | US        |  10000000 | PA      | $11550321.54  | 1.86%             | 2028-01-15      | Fixed         | 0.50%                 | No            |                  2 | On Loan: No      |
| ALPHABET INC.                                                          | GOOGL US 02/17/23 C105 SHORT                                            | CUSIP: N/A<br>LEI: 5493006MHB84DD0ZWV18       | N/A              | DE               |  | US        |     -1424 | NC      | $-213600.00   | -0.03%            |  |  |  | No            |                  1 | On Loan: No      |
| VERIZON COMMUNICATIONS INC.                                            | VERIZON COMMUNICATIONS INC 2.355000% 03/15/2032                         | CUSIP: 92343VGN8<br>LEI: 2S72QS2UO2OESLG6Y829 | Long             | DBT              | CORP              | US        |   2441000 | PA      | $2010907.27   | 0.32%             | 2032-03-15      | Fixed         | 2.35%                 | No            |                  2 | On Loan: No      |
| GENERAL MOTORS COMPANY                                                 | GENERAL MOTORS CO 6.800000% 10/01/2027                                  | CUSIP: 37045VAU4<br>LEI: 54930070NSV60J38I987 | Long             | DBT              | CORP              | US        |   2500000 | PA      | $2662386.10   | 0.43%             | 2027-10-01      | Fixed         | 6.80%                 | No            |                  2 | On Loan: No      |
| DIAMOND SPORTS GROUP, LLC                                              | DIAMOND SPORTS GROUP LLC / DIAMOND SPORTS FINANCE 5.375000% 08/15/2026  | CUSIP: 25277LAF3<br>LEI: 5493002K6DHWNZH8YA34 | Long             | DBT              | CORP              | US        |   4500000 | PA      | $331875.00    | 0.05%             | 2026-08-15      | Fixed         | 5.38%                 | Yes           |                  2 | On Loan: No      |
| COMCAST CORPORATION                                                    | COMCAST CORP 2.937000% 11/01/2056                                       | CUSIP: 20030NDU2<br>LEI: 51M0QTTNCGUN7KFCFZ59 | Long             | DBT              | CORP              | US        |   6111000 | PA      | $4170290.50   | 0.67%             | 2056-11-01      | Fixed         | 2.94%                 | No            |                  2 | On Loan: No      |
| KYNDRYL HOLDINGS, INC.                                                 | KYNDRYL HOLDINGS INC 2.050000% 10/15/2026                               | CUSIP: 50155QAJ9<br>LEI: 549300LQ4LWX2R8ZV130 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $862164.19    | 0.14%             | 2026-10-15      | Fixed         | 2.05%                 | No            |                  2 | On Loan: No      |
| WarnerMedia Holdings, Inc.                                             | WARNERMEDIA HOLDINGS INC 144A 3.428000% 03/15/2024                      | CUSIP: 55903VAC7<br>LEI: 549300DXR29GD4N0A520 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $978735.96    | 0.16%             | 2024-03-15      | Fixed         | 3.43%                 | Yes           |                  2 | On Loan: No      |
| ONEMAIN FINANCE CORP                                                   | ONEMAIN FINANCE CORP 3.500000% 01/15/2027                               | CUSIP: 682691AB6<br>LEI: 5493008I795YYBFWFU90 | Long             | DBT              | CORP              | US        |   3000000 | PA      | $2609148.42   | 0.42%             | 2027-01-15      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| CME GROUP INC.                                                         | CME GROUP INC COMMON STOCK                                              | CUSIP: 12572Q105<br>LEI: LCZ7XYGSLJUHFXXNXD88 | Long             | EC               |  | US        |     29234 | NS      | $5164478.44   | 0.83%             |  |  |  | No            |                  1 | On Loan: No      |
| QUANTA SERVICES, INC.                                                  | QUANTA SERVICES INC 2.900000% 10/01/2030                                | CUSIP: 74762EAF9<br>LEI: SHVRXXEACT60MMH07S24 | Long             | DBT              | CORP              | US        |   3750000 | PA      | $3219988.50   | 0.52%             | 2030-10-01      | Fixed         | 2.90%                 | No            |                  2 | On Loan: No      |
| MICROSOFT CORPORATION                                                  | MICROSOFT CORP COMMON STOCK                                             | CUSIP: 594918104<br>LEI: INR2EJN1ERAN0W5ZP974 | Long             | EC               |  | US        |    120583 | NS      | $29881673.23  | 4.80%             |  |  |  | No            |                  1 | On Loan: No      |
| AMAZON.COM, INC.                                                       | AMAZON.COM INC 3.150000% 08/22/2027                                     | CUSIP: 023135BC9<br>LEI: ZXTILKJKG63JELOEG630 | Long             | DBT              | CORP              | US        |   3300000 | PA      | $3155083.67   | 0.51%             | 2027-08-22      | Fixed         | 3.15%                 | No            |                  2 | On Loan: No      |
| THE PROCTER & GAMBLE COMPANY                                           | PROCTER & GAMBLE CO/THE COMMON STOCK                                    | CUSIP: 742718109<br>LEI: 2572IBTT8CCZW6AU4141 | Long             | EC               |  | US        |     68075 | NS      | $9692518.50   | 1.56%             |  |  |  | No            |                  1 | On Loan: No      |
| UNITEDHEALTH GROUP INCORPORATED                                        | UNITEDHEALTH GROUP INC COMMON STOCK                                     | CUSIP: 91324P102<br>LEI: 549300GHBMY8T5GXDE41 | Long             | EC               |  | US        |     31728 | NS      | $15838300.32  | 2.55%             |  |  |  | No            |                  1 | On Loan: No      |
| U.S. BANCORP                                                           | US BANCORP COMMON STOCK                                                 | CUSIP: 902973304<br>LEI: N1GZ7BBF3NP8GI976H15 | Long             | EC               |  | US        |    187982 | NS      | $9361503.60   | 1.51%             |  |  |  | No            |                  1 | On Loan: No      |
| SABINE PASS LIQUEFACTION, LLC                                          | SABINE PASS LIQUEFACTION LLC 5.750000% 05/15/2024                       | CUSIP: 785592AJ5<br>LEI: 549300KJYBG7C6WJYZ11 | Long             | DBT              | CORP              | US        |   1250000 | PA      | $1257179.40   | 0.20%             | 2024-05-15      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| United States of America                                               | US TREASURY N/B 2.500000% 02/15/2045                                    | CUSIP: 912810RK6<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |  10000000 | PA      | $8067578.10   | 1.30%             | 2045-02-15      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| DCP MIDSTREAM OPERATING, LP                                            | DCP MIDSTREAM OPERATING LP 144A 6.750000% 09/15/2037                    | CUSIP: 23311RAA4<br>LEI: 549300Y6CTBSE0QIPL28 | Long             | DBT              | CORP              | US        |   1500000 | PA      | $1643175.00   | 0.26%             | 2037-09-15      | Fixed         | 6.75%                 | Yes           |                  2 | On Loan: No      |
| SABINE PASS LIQUEFACTION, LLC                                          | SABINE PASS LIQUEFACTION LLC 5.625000% 03/01/2025                       | CUSIP: 785592AM8<br>LEI: 549300KJYBG7C6WJYZ11 | Long             | DBT              | CORP              | US        |   2000000 | PA      | $2017835.66   | 0.32%             | 2025-03-01      | Fixed         | 5.62%                 | No            |                  2 | On Loan: No      |
| ALPHABET INC.                                                          | ALPHABET INC-CL A COMMON STOCK                                          | CUSIP: 02079K305<br>LEI: 5493006MHB84DD0ZWV18 | Long             | EC               |  | US        |    142450 | NS      | $14079758.00  | 2.26%             |  |  |  | No            |                  1 | On Loan: No      |
| SERVICE CORPORATION INTERNATIONAL                                      | SERVICE CORP INTERNATIONAL COMMON STOCK                                 | CUSIP: 817565104<br>LEI: 549300RKVM2ME20JHZ15 | Long             | EC               |  | US        |     76578 | NS      | $5678258.70   | 0.91%             |  |  |  | No            |                  1 | On Loan: No      |
| FORD MOTOR CREDIT COMPANY LLC                                          | FORD MOTOR CREDIT CO LLC 7.350000% 11/04/2027                           | CUSIP: 345397C35<br>LEI: UDSQCVRUX5BONN0VY111 | Long             | DBT              | CORP              | US        |   3000000 | PA      | $3146250.00   | 0.51%             | 2027-11-04      | Fixed         | 7.35%                 | No            |                  2 | On Loan: No      |
| NUVEEN AMT-FREE QUALITY MUNICIPAL INCOME FUND                          | NUVEEN AMT-FR QLTY MUNI INC MUTUAL FUND                                 | CUSIP: 670657105<br>LEI: 549300OTYQOOXS64NI63 | Long             | EC               |  | US        |    409191 | NS      | $4746615.60   | 0.76%             |  |  |  | No            |                  1 | On Loan: No      |
| BLUE OWL CAPITAL INC.                                                  | BLUE OWL CAPITAL INC COMMON STOCK                                       | CUSIP: 09581B103<br>LEI: N/A                  | Long             | EC               |  | US        |    471350 | NS      | $5929583.00   | 0.95%             |  |  |  | No            |                  1 | On Loan: No      |
| Pepsico, Inc.                                                          | PEPSICO INC COMMON STOCK                                                | CUSIP: 713448108<br>LEI: FJSUNZKFNQ5YPJ5OT455 | Long             | EC               |  | US        |     62231 | NS      | $10642745.62  | 1.71%             |  |  |  | No            |                  1 | On Loan: No      |
| PIONEER NATURAL RESOURCES COMPANY                                      | PIONEER NATURAL RESOURCES CO COMMON STOCK                               | CUSIP: 723787107<br>LEI: FY8JBF7CCL2VE4F1B628 | Long             | EC               |  | US        |     42250 | NS      | $9732287.50   | 1.56%             |  |  |  | No            |                  1 | On Loan: No      |
| CHENIERE ENERGY PARTNERS, L.P.                                         | CHENIERE ENERGY PARTNERS LP 4.500000% 10/01/2029                        | CUSIP: 16411QAG6<br>LEI: 5493005UEC8AZ34LDV29 | Long             | DBT              | CORP              | US        |   5000000 | PA      | $4690600.00   | 0.75%             | 2029-10-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| QUALCOMM INCORPORATED                                                  | QUALCOMM INC COMMON STOCK                                               | CUSIP: 747525103<br>LEI: H1J8DDZKZP6H7RWC0H53 | Long             | EC               |  | US        |     72015 | NS      | $9593118.15   | 1.54%             |  |  |  | No            |                  1 | On Loan: No      |
| EQUINIX, INC.                                                          | EQUINIX INC 3.000000% 07/15/2050                                        | CUSIP: 29444UBJ4<br>LEI: 549300EVUN2BTLJ3GT74 | Long             | DBT              | CORP              | US        |   3000000 | PA      | $2063829.06   | 0.33%             | 2050-07-15      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| PROLOGIS, INC.                                                         | PROLOGIS INC REIT                                                       | CUSIP: 74340W103<br>LEI: 529900DFH19P073LZ636 | Long             | EC               |  | US        |     58500 | NS      | $7562880.00   | 1.22%             |  |  |  | No            |                  1 | On Loan: No      |
| AUTOMATIC DATA PROCESSING, INC.                                        | AUTOMATIC DATA PROCESSING COMMON STOCK                                  | CUSIP: 053015103<br>LEI: HGBOLILQXWER4SAL2I23 | Long             | EC               |  | US        |     28847 | NS      | $6513941.07   | 1.05%             |  |  |  | No            |                  1 | On Loan: No      |
| MEDTRONIC PUBLIC LIMITED COMPANY                                       | MEDTRONIC PLC COMMON STOCK                                              | CUSIP: G5960L103<br>LEI: 549300GX3ZBSQWUXY261 | Long             | EC               |  | US        |     47500 | NS      | $3975275.00   | 0.64%             |  |  |  | No            |                  1 | On Loan: No      |

### Signature

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

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

**Signature:** Andy Metzger

**Name of Signer:** Andy Metzger

**Title:** CFO