# EDGAR Filing Document

**Accession Number:** 0000890540
**File Stem:** 0002048251-26-004473
**Filing Date:** 2026-5
**Character Count:** 31538
**Document Hash:** 21e27cd0c624d7cf37105d4c49ed08b4
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0002048251-26-004473.hdr.sgml**: 20260529

**ACCESSION NUMBER**: 0002048251-26-004473

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 3

**CONFORMED PERIOD OF REPORT**: 20260331

**FILED AS OF DATE**: 20260529

**DATE AS OF CHANGE**: 20260529

**PERIOD START**: 20261231

**FILER**: 

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

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

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-07102
- **FILM NUMBER:** 261041587

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

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

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

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

## Series and Classes Contracts Data

### CHAMPLAIN STRATEGIC FOCUS FUND (Series ID: S000082350)

| Class ID   | Class Name           | Ticker Symbol   |
|:---|:---|:---|
| C000245657 | Institutional Shares | CIPTX           |

## Nport-Ex

---

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

---

**SCHEDULE OF INVESTMENTS**

**COMMON STOCK** — **96.0%#**

---

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

---

---

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

---

---

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

---

**COMMON STOCK — continued**

---

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

---

---

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

---

---

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

---

**COMMON STOCK — continued**

---

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

---

---

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

---

---

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

---

**SHORT-TERM INVESTMENTS — 2.3%**

---

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

---

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

 

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

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

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

*Cl — Class*

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

CSC-QH-001-4300

---

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

---

---

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

---

**SCHEDULE OF INVESTMENTS**

**COMMON STOCK** — **97.6%#**

---

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

---

---

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

---

---

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

---

**COMMON STOCK — continued**

---

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

---

---

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

---

---

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

---

**COMMON STOCK — continued**

---

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

---

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

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

\* Non-income producing security.

---

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

---

---

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

---

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

 

*Cl — Class*

*PLC — Public Limited Company*

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

CSC-QH-002-3600

---

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

---

---

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

---

**SCHEDULE OF INVESTMENTS**

**COMMON STOCK** — **98.5%#**

---

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

---

---

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

---

---

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

---

**COMMON STOCK — continued**

---

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

---

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

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

\* Non-income producing security.

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

Cl — Class

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

CSC-QH-003-0500

---

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

---

## Form NPORT-P: Monthly Portfolio Investments Report

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

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

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

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

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

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

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

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

  - **City:** OAKS

  - **State:** PA

  - **Foreign country:** US

  - **Zip / Postal Code:** 19456

  - **Telephone number:** 8774463863

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

- **a. Name of Series:** Champlain Strategic Focus Fund

- **b. EDGAR series identifier (if any):** S000082350

- **c. LEI of Series:** 529900AXRXAEJ8I8X697

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

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

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

**Item A.4. Final filing**

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

### Fund Information

**Total Assets:** $3564861.88

**Total Liabilities:** $7416.40

**Net Assets:** $3557445.48

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000245657 | -8.46%               | -0.51%               | -0.84%               |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $-21868.24               | $-303144.56                                |
| Month 2  | $28002.13                | $-51068.31                                 |
| Month 3  | $11588.47                | $-43676.56                                 |

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| IDEX CORPORATION                  | IDEX CORP COMMON STOCK                                  | CUSIP: 45167R104<br>LEI: 549300U5Y5EL6PHYLF13 | Long             | EC               |  | US        |      1250 | NS      | $236937.50    | 6.66%             |  |  |  | No            |                  1 | On Loan: No      |
| MSCI INC.                         | MSCI INC COMMON STOCK                                   | CUSIP: 55354G100<br>LEI: 549300HTIN2PD78UB763 | Long             | EC               |  | US        |       225 | NS      | $121277.25    | 3.41%             |  |  |  | No            |                  1 | On Loan: No      |
| N/A                               | FIDELITY TREASURY ONLY - I MONEY MARKET CLASS I (FSIXX) | CUSIP: 233809300<br>LEI: N/A                  | Long             | STIV             |  | US        |     49450 | PA      | $49450.35     | 1.39%             |  |  |  | No            |                  1 | On Loan: No      |
| SYNOPSYS, INC.                    | SYNOPSYS INC COMMON STOCK                               | CUSIP: 871607107<br>LEI: QG7T915N9S0NY5UKNE63 | Long             | EC               |  | US        |       500 | NS      | $198240.00    | 5.57%             |  |  |  | No            |                  1 | On Loan: No      |
| FASTENAL COMPANY                  | FASTENAL CO COMMON STOCK                                | CUSIP: 311900104<br>LEI: 529900PP0C7H2HHPSJ32 | Long             | EC               |  | US        |      4550 | NS      | $211120.00    | 5.93%             |  |  |  | No            |                  1 | On Loan: No      |
| VEEVA SYSTEMS INC.                | VEEVA SYSTEMS INC-CLASS A COMMON STOCK                  | CUSIP: 922475108<br>LEI: 549300YZEXPDB92M2F02 | Long             | EC               |  | US        |      1185 | NS      | $208157.10    | 5.85%             |  |  |  | No            |                  1 | On Loan: No      |
| OKTA, INC.                        | OKTA INC COMMON STOCK                                   | CUSIP: 679295105<br>LEI: 549300N8J06I8MRHU620 | Long             | EC               |  | US        |      1350 | NS      | $106258.50    | 2.99%             |  |  |  | No            |                  1 | On Loan: No      |
| AMETEK, INC.                      | AMETEK INC COMMON STOCK                                 | CUSIP: N/A<br>LEI: 549300WZDEF9KKE40E98       | Long             | EC               |  | US        |       725 | NS      | $155411.00    | 4.37%             |  |  |  | No            |                  1 | On Loan: No      |
| WASTE CONNECTIONS, INC.           | WASTE CONNECTIONS INC COMMON STOCK                      | CUSIP: 94106B101<br>LEI: 549300HDLRTPBQU69P29 | Long             | EC               |  | US        |       670 | NS      | $108834.80    | 3.06%             |  |  |  | No            |                  1 | On Loan: No      |
| METTLER-TOLEDO INTERNATIONAL INC. | METTLER-TOLEDO INTERNATIONAL COMMON STOCK               | CUSIP: 592688105<br>LEI: 5493000BD5GJNUDIUG10 | Long             | EC               |  | US        |       100 | NS      | $126120.00    | 3.55%             |  |  |  | No            |                  1 | On Loan: No      |
| ZSCALER, INC.                     | ZSCALER INC COMMON STOCK                                | CUSIP: 98980G102<br>LEI: 529900MZ0RTK1BWRNF46 | Long             | EC               |  | US        |       775 | NS      | $108724.75    | 3.06%             |  |  |  | No            |                  1 | On Loan: No      |
| RYAN SPECIALTY HOLDINGS, INC.     | RYAN SPECIALTY HOLDINGS INC COMMON STOCK                | CUSIP: 78351F107<br>LEI: N/A                  | Long             | EC               |  | US        |      3615 | NS      | $121970.10    | 3.43%             |  |  |  | No            |                  1 | On Loan: No      |
| VERALTO CORPORATION               | VERALTO CORP COMMON STOCK                               | CUSIP: 92338C103<br>LEI: 635400FJE6GSOJUSNY27 | Long             | EC               |  | US        |      1425 | NS      | $125998.50    | 3.54%             |  |  |  | No            |                  1 | On Loan: No      |
| WINGSTOP INC.                     | WINGSTOP INC COMMON STOCK                               | CUSIP: 974155103<br>LEI: 549300SSH3F8HPIM3Q47 | Long             | EC               |  | US        |       320 | NS      | $49590.40     | 1.39%             |  |  |  | No            |                  1 | On Loan: No      |
| MONGODB, INC.                     | MONGODB INC COMMON STOCK                                | CUSIP: 60937P106<br>LEI: 549300TPTG69WKWE1Z37 | Long             | EC               |  | US        |       415 | NS      | $101579.55    | 2.86%             |  |  |  | No            |                  1 | On Loan: No      |
| AXON ENTERPRISE, INC.             | AXON ENTERPRISE INC COMMON STOCK                        | CUSIP: 05464C101<br>LEI: 549300QP2IEEGFE16681 | Long             | EC               |  | US        |       230 | NS      | $97678.70     | 2.75%             |  |  |  | No            |                  1 | On Loan: No      |
| TEXAS PACIFIC LAND CORPORATION    | TEXAS PACIFIC LAND CORP COMMON STOCK                    | CUSIP: 88262P102<br>LEI: N/A                  | Long             | EC               |  | US        |       272 | NS      | $129080.32    | 3.63%             |  |  |  | No            |                  1 | On Loan: No      |
| AUTODESK, INC.                    | AUTODESK INC COMMON STOCK                               | CUSIP: N/A<br>LEI: FRKKVKAIQEF3FCSTPG55       | Long             | EC               |  | US        |       440 | NS      | $105336.00    | 2.96%             |  |  |  | No            |                  1 | On Loan: No      |
| CARLISLE COMPANIES INCORPORATED   | CARLISLE COS INC COMMON STOCK                           | CUSIP: 142339100<br>LEI: XR64VGX1ZPX6G7ZN7Z11 | Long             | EC               |  | US        |       330 | NS      | $110094.60    | 3.09%             |  |  |  | No            |                  1 | On Loan: No      |
| SERVICENOW, INC.                  | SERVICENOW INC COMMON STOCK                             | CUSIP: 81762P102<br>LEI: 549300HJTQM36M0E1G39 | Long             | EC               |  | US        |       950 | NS      | $99322.50     | 2.79%             |  |  |  | No            |                  1 | On Loan: No      |
| DATADOG, INC.                     | DATADOG INC - CLASS A COMMON STOCK                      | CUSIP: 23804L103<br>LEI: 549300F6JNO0KRPO1K63 | Long             | EC               |  | US        |       625 | NS      | $73781.25     | 2.07%             |  |  |  | No            |                  1 | On Loan: No      |
| WATERS CORPORATION                | WATERS CORP COMMON STOCK                                | CUSIP: 941848103<br>LEI: 5T547R1474YC9HOD8Q74 | Long             | EC               |  | US        |       300 | NS      | $89340.00     | 2.51%             |  |  |  | No            |                  1 | On Loan: No      |
| NORDSON CORPORATION               | NORDSON CORP COMMON STOCK                               | CUSIP: 655663102<br>LEI: 14OS6Q5N55N95WM84M53 | Long             | EC               |  | US        |       665 | NS      | $176929.90    | 4.97%             |  |  |  | No            |                  1 | On Loan: No      |
| EOG RESOURCES, INC.               | EOG RESOURCES INC COMMON STOCK                          | CUSIP: 26875P101<br>LEI: XWTZDRYZPBUHIQBKDB46 | Long             | EC               |  | US        |       525 | NS      | $75899.25     | 2.13%             |  |  |  | No            |                  1 | On Loan: No      |
| E.L.F. BEAUTY, INC.               | ELF BEAUTY INC COMMON STOCK                             | CUSIP: 26856L103<br>LEI: 549300U2K9TCON25C029 | Long             | EC               |  | US        |       655 | NS      | $39699.55     | 1.12%             |  |  |  | No            |                  1 | On Loan: No      |
| NUTANIX, INC.                     | NUTANIX INC - A COMMON STOCK                            | CUSIP: 67059N108<br>LEI: 549300X7J6E8TKVIXW09 | Long             | EC               |  | US        |      2850 | NS      | $108328.50    | 3.05%             |  |  |  | No            |                  1 | On Loan: No      |
| ESAB CORPORATION                  | ESAB CORP COMMON STOCK                                  | CUSIP: 29605J106<br>LEI: 549300ZNV0SWBXEIWT04 | Long             | EC               |  | US        |      1660 | NS      | $160455.60    | 4.51%             |  |  |  | No            |                  1 | On Loan: No      |
| TRADEWEB MARKETS INC.             | TRADEWEB MARKETS INC-CLASS A COMMON STOCK               | CUSIP: 892672106<br>LEI: N/A                  | Long             | EC               |  | US        |      1120 | NS      | $131779.20    | 3.70%             |  |  |  | No            |                  1 | On Loan: No      |
| EVERPURE, INC.                    | EVERPURE INC COMMON STOCK                               | CUSIP: 74624M102<br>LEI: 549300NPDB0BZTK3WO90 | Long             | EC               |  | US        |      2125 | NS      | $125460.00    | 3.53%             |  |  |  | No            |                  1 | On Loan: No      |

### Signature

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

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

**Signature:** Andrew Metzger

**Name of Signer:** Andrew Metzger

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