# EDGAR Filing Document

**Accession Number:** 0000890540
**File Stem:** 0002048251-26-004476
**Filing Date:** 2026-5
**Character Count:** 49662
**Document Hash:** 0fefce3710a98c5c199cc01028998836
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0002048251-26-004476.hdr.sgml**: 20260529

**ACCESSION NUMBER**: 0002048251-26-004476

**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:** 261041592

**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 SMALL COMPANY FUND (Series ID: S000005803)

| Class ID   | Class Name                 | Ticker Symbol   |
|:---|:---|:---|
| C000015937 | ADVISOR SHARES             | CIPSX           |
| C000173316 | Institutional Class Shares | CIPNX           |

## 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 Small Company Fund

- **b. EDGAR series identifier (if any):** S000005803

- **c. LEI of Series:** 549300XEFD8NQBMJSZ92

**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:** $1028684639.18

**Total Liabilities:** $1412815.40

**Net Assets:** $1027271823.78

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000173316 | -9.03%               | 0.17%                | 1.03%                |
| Class ID C000015937 | -9.04%               | 0.12%                | 1.01%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $-22802713.57            | $-84971938.91                              |
| Month 2  | $19632835.92             | $-16789269.09                              |
| Month 3  | $20048928.84             | $-5258230.91                               |

### Schedule of Portfolio Investments

| Name                                      | Title                                                   | Identifiers                                   | Payoff Profile   | Asset Category   | Issuer Category   | Country   |   Balance | Units   | Value (USD)   | % of Net Assets   | Maturity Date   | Coupon Type   | Annualized Rate (%)   | Restricted?   |   Fair Value Level | Lending Status   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| SOLSTICE ADVANCED MATERIALS INC.          | SOLSTICE ADV MATERIALS INC COMMON STOCK                 | CUSIP: 83443Q103<br>LEI: 2138004GZ4H9TW6HK435 | Long             | EC               |  | US        |    124030 | NS      | $9446124.80   | 0.92%             |  |  |  | No            |                  1 | On Loan: No      |
| ESAB CORPORATION                          | ESAB CORP COMMON STOCK                                  | CUSIP: 29605J106<br>LEI: 549300ZNV0SWBXEIWT04 | Long             | EC               |  | US        |    199000 | NS      | $19235340.00  | 1.87%             |  |  |  | No            |                  1 | On Loan: No      |
| STONEX GROUP INC.                         | STONEX GROUP INC COMMON STOCK                           | CUSIP: 861896108<br>LEI: 549300JUF07L8VF02M60 | Long             | EC               |  | US        |    247500 | NS      | $19960875.00  | 1.94%             |  |  |  | No            |                  1 | On Loan: No      |
| Veracyte Inc                              | VERACYTE INC COMMON STOCK                               | CUSIP: 92337F107<br>LEI: 529900ESWZRHXOW27Z37 | Long             | EC               |  | US        |    131000 | NS      | $4219510.00   | 0.41%             |  |  |  | No            |                  1 | On Loan: No      |
| SPX TECHNOLOGIES, INC.                    | SPX TECHNOLOGIES INC COMMON STOCK                       | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               |  | US        |    104000 | NS      | $20793760.00  | 2.02%             |  |  |  | No            |                  1 | On Loan: No      |
| CULLEN/FROST BANKERS, INC.                | CULLEN/FROST BANKERS INC COMMON STOCK                   | CUSIP: 229899109<br>LEI: 529900V2E9G9AY665O34 | Long             | EC               |  | US        |    111000 | NS      | $15215880.00  | 1.48%             |  |  |  | No            |                  1 | On Loan: No      |
| SentinelOne Inc                           | SENTINELONE INC -CLASS A COMMON STOCK                   | CUSIP: 81730H109<br>LEI: 984500DCD44DBF954221 | Long             | EC               |  | US        |   1027000 | NS      | $13227760.00  | 1.29%             |  |  |  | No            |                  1 | On Loan: No      |
| MSA Safety Incorporated                   | MSA SAFETY INC COMMON STOCK                             | CUSIP: 553498106<br>LEI: 529900DVA3258XK11O39 | Long             | EC               |  | US        |    118500 | NS      | $19428075.00  | 1.89%             |  |  |  | No            |                  1 | On Loan: No      |
| Heartflow Inc                             | HEARTFLOW INC COMMON STOCK                              | CUSIP: 42238D107<br>LEI: N/A                  | Long             | EC               |  | US        |    280000 | NS      | $6812400.00   | 0.66%             |  |  |  | No            |                  1 | On Loan: No      |
| N/A                                       | FIDELITY TREASURY ONLY - I MONEY MARKET CLASS I (FSIXX) | CUSIP: 233809300<br>LEI: N/A                  | Long             | STIV             |  | US        |  20000000 | PA      | $20000000.00  | 1.95%             |  |  |  | No            |                  1 | On Loan: No      |
| AMERISAFE, INC                            | AMERISAFE INC COMMON STOCK                              | CUSIP: 03071H100<br>LEI: 2549002B4EXPBLGMNN22 | Long             | EC               |  | US        |    179000 | NS      | $5966070.00   | 0.58%             |  |  |  | No            |                  1 | On Loan: No      |
| CSW INDUSTRIALS, INC.                     | CSW INDUSTRIALS INC COMMON STOCK                        | CUSIP: 126402106<br>LEI: 549300SYOEO3RVQ7FB83 | Long             | EC               |  | US        |     76000 | NS      | $19804080.00  | 1.93%             |  |  |  | No            |                  1 | On Loan: No      |
| FIRST WATCH RESTAURANT GROUP, INC.        | FIRST WATCH RESTAURANT GROUP COMMON STOCK               | CUSIP: 33748L101<br>LEI: N/A                  | Long             | EC               |  | US        |    288000 | NS      | $3018240.00   | 0.29%             |  |  |  | No            |                  1 | On Loan: No      |
| N/A                                       | GOLDMAN SACHS FIN SQ TR IN-IN FTIXX                     | CUSIP: 38142B500<br>LEI: N/A                  | Long             | STIV             |  | US        |   3717814 | PA      | $3717813.93   | 0.36%             |  |  |  | No            |                  2 | On Loan: No      |
| HAMILTON LANE INCORPORATED                | HAMILTON LANE INC-CLASS A COMMON STOCK                  | CUSIP: 407497106<br>LEI: 5493006OKN3V1NORM833 | Long             | EC               |  | US        |    134000 | NS      | $13319600.00  | 1.30%             |  |  |  | No            |                  1 | On Loan: No      |
| BRADY CORPORATION                         | BRADY CORPORATION - CL A COMMON STOCK                   | CUSIP: 104674106<br>LEI: 549300G2LEQOFQC8GY34 | Long             | EC               |  | US        |     64000 | NS      | $5199360.00   | 0.51%             |  |  |  | No            |                  1 | On Loan: No      |
| MARKETAXESS HOLDINGS INC.                 | MARKETAXESS HOLDINGS INC COMMON STOCK                   | CUSIP: 57060D108<br>LEI: 5493002U1CA1XJOVID83 | Long             | EC               |  | US        |     96000 | NS      | $15838080.00  | 1.54%             |  |  |  | No            |                  1 | On Loan: No      |
| SENSIENT TECHNOLOGIES CORPORATION         | SENSIENT TECHNOLOGIES CORP COMMON STOCK                 | CUSIP: 81725T100<br>LEI: CMMZHMFZQG86EI7WZU92 | Long             | EC               |  | US        |    119000 | NS      | $10286360.00  | 1.00%             |  |  |  | No            |                  1 | On Loan: No      |
| JBT MAREL CORPORATION                     | JBT MAREL CORP COMMON STOCK                             | CUSIP: 477839104<br>LEI: 5493007CT6ATBZ2L6826 | Long             | EC               |  | US        |     71500 | NS      | $9142705.00   | 0.89%             |  |  |  | No            |                  1 | On Loan: No      |
| WYNDHAM HOTELS & RESORTS, INC.            | WYNDHAM HOTELS & RESORTS INC COMMON STOCK               | CUSIP: 98311A105<br>LEI: 549300FE3MQ4RVXXC673 | Long             | EC               |  | US        |    173000 | NS      | $14052790.00  | 1.37%             |  |  |  | No            |                  1 | On Loan: No      |
| GERMAN AMERICAN BANCORP, INC.             | GERMAN AMERICAN BANCORP COMMON STOCK                    | CUSIP: 373865104<br>LEI: N/A                  | Long             | EC               |  | US        |    301000 | NS      | $12578790.00  | 1.22%             |  |  |  | No            |                  1 | On Loan: No      |
| FLOOR & DECOR HOLDINGS, INC.              | FLOOR & DECOR HOLDINGS INC-A COMMON STOCK               | CUSIP: 339750101<br>LEI: 549300M5FR3N688XGQ36 | Long             | EC               |  | US        |    255000 | NS      | $12954000.00  | 1.26%             |  |  |  | No            |                  1 | On Loan: No      |
| AEROVIRONMENT, INC.                       | AEROVIRONMENT INC COMMON STOCK                          | CUSIP: N/A<br>LEI: 529900PGHVI29YLZ6221       | Long             | EC               |  | US        |     57000 | NS      | $10433850.00  | 1.02%             |  |  |  | No            |                  1 | On Loan: No      |
| BANCFIRST CORPORATION                     | BANCFIRST CORP COMMON STOCK                             | CUSIP: 05945F103<br>LEI: 549300EJEHGBP4IO2J30 | Long             | EC               |  | US        |    109000 | NS      | $11826500.00  | 1.15%             |  |  |  | No            |                  1 | On Loan: No      |
| BLOOM ENERGY CORPORATION                  | BLOOM ENERGY CORP- A COMMON STOCK                       | CUSIP: N/A<br>LEI: 549300XB5J9BFW5JXV97       | Long             | EC               |  | US        |     83000 | NS      | $11245670.00  | 1.09%             |  |  |  | No            |                  1 | On Loan: No      |
| NICOLET BANKSHARES, INC.                  | NICOLET BANKSHARES INC COMMON STOCK                     | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               |  | US        |     58000 | NS      | $8619960.00   | 0.84%             |  |  |  | No            |                  1 | On Loan: No      |
| NUTANIX, INC.                             | NUTANIX INC - A COMMON STOCK                            | CUSIP: 67059N108<br>LEI: 549300X7J6E8TKVIXW09 | Long             | EC               |  | US        |    525980 | NS      | $19992499.80  | 1.95%             |  |  |  | No            |                  1 | On Loan: No      |
| KADANT INC.                               | KADANT INC COMMON STOCK                                 | CUSIP: 48282T104<br>LEI: 549300K06LNJYBMPYP15 | Long             | EC               |  | US        |     60000 | NS      | $17541000.00  | 1.71%             |  |  |  | No            |                  1 | On Loan: No      |
| COMMERCE BANCSHARES, INC.                 | COMMERCE BANCSHARES INC COMMON STOCK                    | CUSIP: 200525103<br>LEI: N/A                  | Long             | EC               |  | US        |    270000 | NS      | $13284000.00  | 1.29%             |  |  |  | No            |                  1 | On Loan: No      |
| BRINKER INTERNATIONAL, INC.               | BRINKER INTERNATIONAL INC COMMON STOCK                  | CUSIP: 109641100<br>LEI: 52990067JY6PBGJNTG76 | Long             | EC               |  | US        |     73000 | NS      | $10422210.00  | 1.01%             |  |  |  | No            |                  1 | On Loan: No      |
| PLANET FITNESS, INC.                      | PLANET FITNESS INC - CL A COMMON STOCK                  | CUSIP: 72703H101<br>LEI: 549300LLE5HUPF6H8G33 | Long             | EC               |  | US        |     53000 | NS      | $3942140.00   | 0.38%             |  |  |  | No            |                  1 | On Loan: No      |
| ATRICURE, INC.                            | ATRICURE INC COMMON STOCK                               | CUSIP: 04963C209<br>LEI: 254900B2I6GPHK2EXM59 | Long             | EC               |  | US        |    465000 | NS      | $13266450.00  | 1.29%             |  |  |  | No            |                  1 | On Loan: No      |
| MASIMO CORPORATION                        | MASIMO CORP COMMON STOCK                                | CUSIP: 574795100<br>LEI: 549300Q4A8JK0PIYCU29 | Long             | EC               |  | US        |     50000 | NS      | $8893500.00   | 0.87%             |  |  |  | No            |                  1 | On Loan: No      |
| SI-BONE Inc                               | SI-BONE INC COMMON STOCK                                | CUSIP: 825704109<br>LEI: 549300J8JGYVJJHV9C31 | Long             | EC               |  | US        |    416000 | NS      | $5254080.00   | 0.51%             |  |  |  | No            |                  1 | On Loan: No      |
| MODINE MANUFACTURING COMPANY              | MODINE MANUFACTURING CO COMMON STOCK                    | CUSIP: 607828100<br>LEI: Z35SZFYJR8GZZRSIUU09 | Long             | EC               |  | US        |     54000 | NS      | $11702340.00  | 1.14%             |  |  |  | No            |                  1 | On Loan: No      |
| MERIT MEDICAL SYSTEMS, INC.               | MERIT MEDICAL SYSTEMS INC COMMON STOCK                  | CUSIP: 589889104<br>LEI: 549300OYTY138SP2CE83 | Long             | EC               |  | US        |    134000 | NS      | $9236620.00   | 0.90%             |  |  |  | No            |                  1 | On Loan: No      |
| ENERPAC TOOL GROUP CORP.                  | ENERPAC TOOL GROUP COMMON STOCK                         | CUSIP: 292765104<br>LEI: IZW37BPZKUJE1QXGB081 | Long             | EC               |  | US        |    372000 | NS      | $13566840.00  | 1.32%             |  |  |  | No            |                  1 | On Loan: No      |
| PJT PARTNERS INC.                         | PJT PARTNERS INC - A COMMON STOCK                       | CUSIP: 69343T107<br>LEI: 549300W3WBEQUBKYTN87 | Long             | EC               |  | US        |     98000 | NS      | $13692560.00  | 1.33%             |  |  |  | No            |                  1 | On Loan: No      |
| KRATOS DEFENSE & SECURITY SOLUTIONS, INC. | KRATOS DEFENSE & SECURITY COMMON STOCK                  | CUSIP: 50077B207<br>LEI: 5493000EKBN0UY1F3F88 | Long             | EC               |  | US        |    101825 | NS      | $7179680.75   | 0.70%             |  |  |  | No            |                  1 | On Loan: No      |
| CARIS LIFE SCIENCES, INC.                 | CARIS LIFE SCIENCES INC COMMON STOCK                    | CUSIP: 142152107<br>LEI: 549300LX5LO78M5VPY43 | Long             | EC               |  | US        |    556000 | NS      | $9941280.00   | 0.97%             |  |  |  | No            |                  1 | On Loan: No      |
| GitLab Inc                                | GITLAB INC-CL A COMMON STOCK                            | CUSIP: 37637K108<br>LEI: 9845004Y40FACG81ED49 | Long             | EC               |  | US        |    428000 | NS      | $9261920.00   | 0.90%             |  |  |  | No            |                  1 | On Loan: No      |
| NOVANTA INC.                              | NOVANTA INC COMMON STOCK                                | CUSIP: 67000B104<br>LEI: N/A                  | Long             | EC               |  | US        |    182000 | NS      | $21496020.00  | 2.09%             |  |  |  | No            |                  1 | On Loan: No      |
| SPROUTS FARMERS MARKET, INC.              | SPROUTS FARMERS MARKET INC COMMON STOCK                 | CUSIP: 85208M102<br>LEI: 529900P8F4G77Q52XE24 | Long             | EC               |  | US        |    167085 | NS      | $12887266.05  | 1.25%             |  |  |  | No            |                  1 | On Loan: No      |
| GLOBUS MEDICAL, INC.                      | GLOBUS MEDICAL INC - A COMMON STOCK                     | CUSIP: 379577208<br>LEI: 5299003M2P4CIK0RF205 | Long             | EC               |  | US        |    163000 | NS      | $14044080.00  | 1.37%             |  |  |  | No            |                  1 | On Loan: No      |
| CENTRAL BANCOMPANY, INC.                  | CENTRAL BANCOMPANY COMMON STOCK                         | CUSIP: 152413100<br>LEI: N/A                  | Long             | EC               |  | US        |    670000 | NS      | $16046500.00  | 1.56%             |  |  |  | No            |                  1 | On Loan: No      |
| WINGSTOP INC.                             | WINGSTOP INC COMMON STOCK                               | CUSIP: 974155103<br>LEI: 549300SSH3F8HPIM3Q47 | Long             | EC               |  | US        |     68000 | NS      | $10537960.00  | 1.03%             |  |  |  | No            |                  1 | On Loan: No      |
| GLAUKOS CORPORATION                       | GLAUKOS CORP COMMON STOCK                               | CUSIP: 377322102<br>LEI: 5299004JA1LHE21M6T14 | Long             | EC               |  | US        |    156000 | NS      | $16794960.00  | 1.63%             |  |  |  | No            |                  1 | On Loan: No      |
| Inspire Medical Systems Inc               | INSPIRE MEDICAL SYSTEMS INC COMMON STOCK                | CUSIP: 457730109<br>LEI: 549300XQQCQ7HCJKTW25 | Long             | EC               |  | US        |     75000 | NS      | $3868500.00   | 0.38%             |  |  |  | No            |                  1 | On Loan: No      |
| WATTS WATER TECHNOLOGIES, INC.            | WATTS WATER TECHNOLOGIES-A COMMON STOCK                 | CUSIP: 942749102<br>LEI: 549300REJOO94ERQN318 | Long             | EC               |  | US        |     24500 | NS      | $7112105.00   | 0.69%             |  |  |  | No            |                  1 | On Loan: No      |
| BRUKER CORPORATION                        | BRUKER CORP COMMON STOCK                                | CUSIP: 116794108<br>LEI: LEBZ6VLQ6I8XB1NHVY15 | Long             | EC               |  | US        |    280000 | NS      | $10113600.00  | 0.98%             |  |  |  | No            |                  1 | On Loan: No      |
| VERICEL CORPORATION                       | VERICEL CORP COMMON STOCK                               | CUSIP: 92346J108<br>LEI: 54930076YM3PLTDR4B91 | Long             | EC               |  | US        |    347000 | NS      | $11162990.00  | 1.09%             |  |  |  | No            |                  1 | On Loan: No      |
| AAON, INC.                                | AAON INC COMMON STOCK                                   | CUSIP: N/A<br>LEI: 549300ZHF0E5VM7PUD37       | Long             | EC               |  | US        |    201000 | NS      | $16632750.00  | 1.62%             |  |  |  | No            |                  1 | On Loan: No      |
| COMMVAULT SYSTEMS, INC.                   | COMMVAULT SYSTEMS INC COMMON STOCK                      | CUSIP: 204166102<br>LEI: 65T5VRP62VXG39YFML83 | Long             | EC               |  | US        |    172000 | NS      | $13397080.00  | 1.30%             |  |  |  | No            |                  1 | On Loan: No      |
| RLI CORP.                                 | RLI CORP COMMON STOCK                                   | CUSIP: 749607107<br>LEI: 529900AMTJE5ECN9PS55 | Long             | EC               |  | US        |    220000 | NS      | $12548800.00  | 1.22%             |  |  |  | No            |                  1 | On Loan: No      |
| CACTUS, INC.                              | CACTUS INC - A COMMON STOCK                             | CUSIP: 127203107<br>LEI: 549300J3T8C9F8QFKV08 | Long             | EC               |  | US        |    300000 | NS      | $14211000.00  | 1.38%             |  |  |  | No            |                  1 | On Loan: No      |
| REPLIGEN CORPORATION                      | REPLIGEN CORP COMMON STOCK                              | CUSIP: 759916109<br>LEI: 54930006QJ0T5AUO1E71 | Long             | EC               |  | US        |     84000 | NS      | $9896880.00   | 0.96%             |  |  |  | No            |                  1 | On Loan: No      |
| Ralliant Corp                             | RALLIANT CORP COMMON STOCK                              | CUSIP: 750940108<br>LEI: 52990024QKO4DYT8N464 | Long             | EC               |  | US        |    283000 | NS      | $11769970.00  | 1.15%             |  |  |  | No            |                  1 | On Loan: No      |
| SIMPSON MANUFACTURING CO., INC.           | SIMPSON MANUFACTURING CO INC COMMON STOCK               | CUSIP: 829073105<br>LEI: 529900EJUNNL15LZ8056 | Long             | EC               |  | US        |    121000 | NS      | $20766020.00  | 2.02%             |  |  |  | No            |                  1 | On Loan: No      |
| SKYWARD SPECIALTY INSURANCE GROUP, INC.   | SKYWARD SPECIALTY INSURANCE COMMON STOCK                | CUSIP: 830940102<br>LEI: 549300GXGXJG0YH4VN21 | Long             | EC               |  | US        |    352000 | NS      | $15375360.00  | 1.50%             |  |  |  | No            |                  1 | On Loan: No      |
| EVERPURE, INC.                            | EVERPURE INC COMMON STOCK                               | CUSIP: 74624M102<br>LEI: 549300NPDB0BZTK3WO90 | Long             | EC               |  | US        |    291000 | NS      | $17180640.00  | 1.67%             |  |  |  | No            |                  1 | On Loan: No      |
| E.L.F. BEAUTY, INC.                       | ELF BEAUTY INC COMMON STOCK                             | CUSIP: 26856L103<br>LEI: 549300U2K9TCON25C029 | Long             | EC               |  | US        |    163000 | NS      | $9879430.00   | 0.96%             |  |  |  | No            |                  1 | On Loan: No      |
| Braze Inc                                 | BRAZE INC-A COMMON STOCK                                | CUSIP: 10576N102<br>LEI: 9845007B9EDBFD37C277 | Long             | EC               |  | US        |    559000 | NS      | $13197990.00  | 1.28%             |  |  |  | No            |                  1 | On Loan: No      |
| STOCK YARDS BANCORP, INC.                 | STOCK YARDS BANCORP INC COMMON STOCK                    | CUSIP: 861025104<br>LEI: 549300YERP9H5TDIQW16 | Long             | EC               |  | US        |    155000 | NS      | $10274950.00  | 1.00%             |  |  |  | No            |                  1 | On Loan: No      |
| STANDEX INTERNATIONAL CORPORATION         | STANDEX INTERNATIONAL CORP COMMON STOCK                 | CUSIP: 854231107<br>LEI: RCX52GR0JW2LRRMH9Z54 | Long             | EC               |  | US        |     81000 | NS      | $20643660.00  | 2.01%             |  |  |  | No            |                  1 | On Loan: No      |
| RAMBUS INC.                               | RAMBUS INC COMMON STOCK                                 | CUSIP: 750917106<br>LEI: 2549000211GDCQSLV833 | Long             | EC               |  | US        |    167000 | NS      | $14367010.00  | 1.40%             |  |  |  | No            |                  1 | On Loan: No      |
| OneSpaWorld Holdings Ltd                  | ONESPAWORLD HOLDINGS LTD COMMON STOCK                   | CUSIP: P73684113<br>LEI: 5493007W8PZ8W6UC2X76 | Long             | EC               |  | US        |    358000 | NS      | $8216100.00   | 0.80%             |  |  |  | No            |                  1 | On Loan: No      |
| RB Global, Inc.                           | RB GLOBAL INC COMMON STOCK                              | CUSIP: 74935Q107<br>LEI: 5493002H8U24DJXQ4886 | Long             | EC               |  | US        |    176000 | NS      | $16869600.00  | 1.64%             |  |  |  | No            |                  1 | On Loan: No      |
| Phreesia Inc                              | PHREESIA INC COMMON STOCK                               | CUSIP: 71944F106<br>LEI: 5493000HHF8NU4QOCG53 | Long             | EC               |  | US        |    454000 | NS      | $3804520.00   | 0.37%             |  |  |  | No            |                  1 | On Loan: No      |
| FIRST FINANCIAL BANKSHARES, INC.          | FIRST FINL BANKSHARES INC COMMON STOCK                  | CUSIP: 32020R109<br>LEI: 549300XN3GTGOENGNV49 | Long             | EC               |  | US        |    560000 | NS      | $16492000.00  | 1.61%             |  |  |  | No            |                  1 | On Loan: No      |
| TRANSCAT, INC.                            | TRANSCAT INC COMMON STOCK                               | CUSIP: 893529107<br>LEI: 54930081E40TSSHUOS40 | Long             | EC               |  | US        |     98000 | NS      | $7198100.00   | 0.70%             |  |  |  | No            |                  1 | On Loan: No      |
| CAVA GROUP, INC.                          | CAVA GROUP INC COMMON STOCK                             | CUSIP: 148929102<br>LEI: N/A                  | Long             | EC               |  | US        |    180000 | NS      | $14562000.00  | 1.42%             |  |  |  | No            |                  1 | On Loan: No      |
| Credo Technology Group Holding Ltd        | CREDO TECHNOLOGY GROUP HOLDI COMMON STOCK               | CUSIP: G25457105<br>LEI: N/A                  | Long             | EC               |  | US        |     52000 | NS      | $4881240.00   | 0.48%             |  |  |  | No            |                  1 | On Loan: No      |
| CELSIUS HOLDINGS, INC.                    | CELSIUS HOLDINGS INC COMMON STOCK                       | CUSIP: 15118V207<br>LEI: N/A                  | Long             | EC               |  | US        |    436890 | NS      | $15500857.20  | 1.51%             |  |  |  | No            |                  1 | On Loan: No      |
| RBC BEARINGS INCORPORATED                 | RBC BEARINGS INC COMMON STOCK                           | CUSIP: 75524B104<br>LEI: N/A                  | Long             | EC               |  | US        |     16000 | NS      | $8689920.00   | 0.85%             |  |  |  | No            |                  1 | On Loan: No      |
| PENUMBRA, INC.                            | PENUMBRA INC COMMON STOCK                               | CUSIP: 70975L107<br>LEI: 549300RGE06P3ECANU72 | Long             | EC               |  | US        |     62000 | NS      | $20358940.00  | 1.98%             |  |  |  | No            |                  1 | On Loan: No      |
| PALOMAR HOLDINGS, INC.                    | PALOMAR HOLDINGS INC COMMON STOCK                       | CUSIP: 69753M105<br>LEI: 549300DOI1MUW11BLX74 | Long             | EC               |  | US        |    151000 | NS      | $18044500.00  | 1.76%             |  |  |  | No            |                  1 | On Loan: No      |
| MATADOR RESOURCES COMPANY                 | MATADOR RESOURCES CO COMMON STOCK                       | CUSIP: 576485205<br>LEI: 549300CI3Q2UUK5R4G79 | Long             | EC               |  | US        |    366000 | NS      | $23123880.00  | 2.25%             |  |  |  | No            |                  1 | On Loan: No      |
| ALKAMI TECHNOLOGY, INC.                   | ALKAMI TECHNOLOGY INC COMMON STOCK                      | CUSIP: 01644J108<br>LEI: 254900FCNYU4HNEV9L47 | Long             | EC               |  | US        |    659000 | NS      | $10326530.00  | 1.01%             |  |  |  | No            |                  1 | On Loan: No      |
| Procept Biorobotics Corp                  | PROCEPT BIOROBOTICS CORP COMMON STOCK                   | CUSIP: 74276L105<br>LEI: N/A                  | Long             | EC               |  | US        |    529000 | NS      | $13230290.00  | 1.29%             |  |  |  | No            |                  1 | On Loan: No      |
| SHAKE SHACK INC.                          | SHAKE SHACK INC - CLASS A COMMON STOCK                  | CUSIP: 819047101<br>LEI: 529900J74GJAHYP80N79 | Long             | EC               |  | US        |     76000 | NS      | $6723720.00   | 0.65%             |  |  |  | No            |                  1 | On Loan: No      |
| VALVOLINE INC.                            | VALVOLINE INC COMMON STOCK                              | CUSIP: 92047W101<br>LEI: 549300CMHPBEY6VPOT75 | Long             | EC               |  | US        |    486860 | NS      | $16397444.80  | 1.60%             |  |  |  | No            |                  1 | On Loan: No      |
| THE BALDWIN INSURANCE GROUP, INC.         | BALDWIN INSURANCE GROUP INC/ COMMON STOCK               | CUSIP: 05589G102<br>LEI: N/A                  | Long             | EC               |  | US        |    482000 | NS      | $10575080.00  | 1.03%             |  |  |  | No            |                  1 | On Loan: No      |
| SiTime Corp                               | SITIME CORP COMMON STOCK                                | CUSIP: 82982T106<br>LEI: N/A                  | Long             | EC               |  | US        |     15000 | NS      | $5180250.00   | 0.50%             |  |  |  | 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