# EDGAR Filing Document

**Accession Number:** 0000890540
**File Stem:** 0002048251-26-002797
**Filing Date:** 2026-4
**Character Count:** 15821
**Document Hash:** ceeb8dcf4de3c53df5186ec019a134d6
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0002048251-26-002797.hdr.sgml**: 20260401

**ACCESSION NUMBER**: 0002048251-26-002797

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 1

**CONFORMED PERIOD OF REPORT**: 20260131

**FILED AS OF DATE**: 20260401

**DATE AS OF CHANGE**: 20260401

**PERIOD START**: 20260731

**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:** 26825603

**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

### REAVES INFRASTRUCTURE FUND (Series ID: S000006467)

| Class ID   | Class Name                 | Ticker Symbol   |
|:---|:---|:---|
| C000017675 | INSTITUTIONAL CLASS SHARES | RSRFX           |

## 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:** Reaves Infrastructure Fund

- **b. EDGAR series identifier (if any):** S000006467

- **c. LEI of Series:** 5493001NU07FTGFWK120

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

- **a. Date of fiscal year-end:** 2026-07-31

- **b. Date as of which information is reported:** 2026-01-31

**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:** $35341103.11

**Total Liabilities:** $104684.08

**Net Assets:** $35236419.03

**Cash Not Reported:** $0.07

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000017675 | 4.63%                | -3.69%               | 0.25%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $318172.01               | $1270734.62                                |
| Month 2  | $288655.13               | $-1659799.23                               |
| Month 3  | $917534.69               | $-847864.41                                |

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| EQUINIX, INC.                                         | EQUINIX INC REIT                                      | CUSIP: 29444U700<br>LEI: 549300EVUN2BTLJ3GT74 | Long             | EC               |  | US        |      1500 | NS      | $1231395.00   | 3.49%             |  |  |  | No            |                  1 | On Loan: No      |
| QUANTA SERVICES, INC.                                 | QUANTA SERVICES INC COMMON STOCK                      | CUSIP: N/A<br>LEI: SHVRXXEACT60MMH07S24       | Long             | EC               |  | US        |      3490 | NS      | $1656458.70   | 4.70%             |  |  |  | No            |                  1 | On Loan: No      |
| NEXTERA ENERGY, INC.                                  | NEXTERA ENERGY INC COMMON STOCK                       | CUSIP: 65339F101<br>LEI: 254900RHL9MEUS5NKX63 | Long             | EC               |  | US        |     12566 | NS      | $1104551.40   | 3.13%             |  |  |  | No            |                  1 | On Loan: No      |
| LUMENTUM HOLDINGS INC.                                | LUMENTUM HOLDINGS INC COMMON STOCK                    | CUSIP: 55024U109<br>LEI: 549300JLWRRC38DWEF52 | Long             | EC               |  | US        |      2000 | NS      | $783680.00    | 2.22%             |  |  |  | No            |                  1 | On Loan: No      |
| SEMPRA                                                | SEMPRA COMMON STOCK                                   | CUSIP: 816851109<br>LEI: PBBKGKLRK5S5C0Y4T545 | Long             | EC               |  | US        |     12500 | NS      | $1087625.00   | 3.09%             |  |  |  | No            |                  1 | On Loan: No      |
| DIGITAL REALTY TRUST, INC.                            | DIGITAL REALTY TRUST INC REIT                         | CUSIP: 253868103<br>LEI: 549300HKCZ31D08NEI41 | Long             | EC               |  | US        |      4200 | NS      | $696990.00    | 1.98%             |  |  |  | No            |                  1 | On Loan: No      |
| T-MOBILE US, INC.                                     | T-MOBILE US INC COMMON STOCK                          | CUSIP: 872590104<br>LEI: 549300QHIJYOHPACPG31 | Long             | EC               |  | US        |      5073 | NS      | $1000446.33   | 2.84%             |  |  |  | No            |                  1 | On Loan: No      |
| Xcel Energy Inc.                                      | XCEL ENERGY INC COMMON STOCK                          | CUSIP: 98389B100<br>LEI: LGJNMI9GH8XIDG5RCM61 | Long             | EC               |  | US        |     14100 | NS      | $1072446.00   | 3.04%             |  |  |  | No            |                  1 | On Loan: No      |
| Coherent Corp.                                        | COHERENT CORP COMMON STOCK                            | CUSIP: 19247G107<br>LEI: 549300O5C25A0MMHHU33 | Long             | EC               |  | US        |      2000 | NS      | $424360.00    | 1.20%             |  |  |  | No            |                  1 | On Loan: No      |
| JOHNSON CONTROLS INTERNATIONAL PUBLIC LIMITED COMPANY | JOHNSON CONTROLS INTERNATION COMMON STOCK             | CUSIP: G51502105<br>LEI: 549300XQ6S1GYKGBL205 | Long             | EC               |  | US        |      7341 | NS      | $875487.66    | 2.48%             |  |  |  | No            |                  1 | On Loan: No      |
| IRON MOUNTAIN INCORPORATED                            | IRON MOUNTAIN INC REIT                                | CUSIP: 46284V101<br>LEI: SQL3F6CKNNBM3SQGHX24 | Long             | EC               |  | US        |      7000 | NS      | $644910.00    | 1.83%             |  |  |  | No            |                  1 | On Loan: No      |
| CORPORATION CAMECO                                    | CAMECO CORP COMMON STOCK                              | CUSIP: 13321L108<br>LEI: N4BHALMXL3GMZKCUON55 | Long             | EC               |  | US        |     12300 | NS      | $1517697.00   | 4.31%             |  |  |  | No            |                  1 | On Loan: No      |
| MP MATERIALS CORP                                     | MP MATERIALS CORP COMMON STOCK                        | CUSIP: 553368101<br>LEI: 89450063PHPS61USMT84 | Long             | EC               |  | US        |     14497 | NS      | $851988.69    | 2.42%             |  |  |  | No            |                  1 | On Loan: No      |
| CENTRUS ENERGY CORP.                                  | CENTRUS ENERGY CORP-CLASS A COMMON STOCK              | CUSIP: 15643U104<br>LEI: 549300G6VDK9G8276661 | Long             | EC               |  | US        |      2998 | NS      | $834283.44    | 2.37%             |  |  |  | No            |                  1 | On Loan: No      |
| TALEN ENERGY CORP                                     | TALEN ENERGY CORP COMMON STOCK                        | CUSIP: 87422Q109<br>LEI: N/A                  | Long             | EC               |  | US        |      5540 | NS      | $1929914.40   | 5.48%             |  |  |  | No            |                  1 | On Loan: No      |
| DT MIDSTREAM, INC.                                    | DT MIDSTREAM INC COMMON STOCK                         | CUSIP: 23345M107<br>LEI: N/A                  | Long             | EC               |  | US        |     15221 | NS      | $1918150.42   | 5.44%             |  |  |  | No            |                  1 | On Loan: No      |
| ENTERGY CORPORATION                                   | ENTERGY CORP COMMON STOCK                             | CUSIP: 29364G103<br>LEI: 4XM3TW50JULSLG8BNC79 | Long             | EC               |  | US        |     15814 | NS      | $1516404.46   | 4.30%             |  |  |  | No            |                  1 | On Loan: No      |
| DYCOM INDUSTRIES, INC.                                | DYCOM INDUSTRIES INC COMMON STOCK                     | CUSIP: 267475101<br>LEI: 549300F56EKTHQI3WT60 | Long             | EC               |  | US        |      1394 | NS      | $507959.66    | 1.44%             |  |  |  | No            |                  1 | On Loan: No      |
| VISTRA CORP.                                          | Vistra Corp. COMMON STOCK                             | CUSIP: 92840M102<br>LEI: 549300KP43CPCUJOOG15 | Long             | EC               |  | US        |      3700 | NS      | $585895.00    | 1.66%             |  |  |  | No            |                  1 | On Loan: No      |
| ALLIANT ENERGY CORPORATION                            | ALLIANT ENERGY CORP COMMON STOCK                      | CUSIP: N/A<br>LEI: 5493009ML300G373MZ12       | Long             | EC               |  | US        |     10500 | NS      | $692055.00    | 1.96%             |  |  |  | No            |                  1 | On Loan: No      |
| WEC ENERGY GROUP INC.                                 | WEC ENERGY GROUP INC COMMON STOCK                     | CUSIP: 92939U106<br>LEI: 549300IGLYTZUK3PVP70 | Long             | EC               |  | US        |      9350 | NS      | $1034764.50   | 2.94%             |  |  |  | No            |                  1 | On Loan: No      |
| N/A                                                   | SEI DAILY INCOME TRUST TREASURY II MONEY MARKET (#37) | CUSIP: 783965619<br>LEI: N/A                  | Long             | STIV             |  | US        |     47606 | PA      | $47606.27     | 0.14%             |  |  |  | No            |                  1 | On Loan: No      |
| IDACORP, INC.                                         | IDACORP INC COMMON STOCK                              | CUSIP: 451107106<br>LEI: N134NUJDWN8UEFA8B673 | Long             | EC               |  | US        |     10524 | NS      | $1397481.96   | 3.97%             |  |  |  | No            |                  1 | On Loan: No      |
| EQT CORPORATION                                       | EQT CORP COMMON STOCK                                 | CUSIP: 26884L109<br>LEI: 4NT01YGM4X7ZX86ISY52 | Long             | EC               |  | US        |     12300 | NS      | $710079.00    | 2.02%             |  |  |  | No            |                  1 | On Loan: No      |
| TIC SOLUTIONS, INC.                                   | TIC SOLUTIONS INC COMMON STOCK                        | CUSIP: 00510N102<br>LEI: N/A                  | Long             | EC               |  | US        |     67659 | NS      | $683355.90    | 1.94%             |  |  |  | No            |                  1 | On Loan: No      |
| AMEREN CORPORATION                                    | AMEREN CORPORATION COMMON STOCK                       | CUSIP: N/A<br>LEI: XRZQ5S7HYJFPHJ78L959       | Long             | EC               |  | US        |     10250 | NS      | $1058620.00   | 3.00%             |  |  |  | No            |                  1 | On Loan: No      |
| GE VERNOVA INC.                                       | GE VERNOVA INC COMMON STOCK                           | CUSIP: 36828A101<br>LEI: 254900DP080RU6OK2553 | Long             | EC               |  | US        |       630 | NS      | $457613.10    | 1.30%             |  |  |  | No            |                  1 | On Loan: No      |
| CROWN CASTLE INC.                                     | CROWN CASTLE INC REIT                                 | CUSIP: 22822V101<br>LEI: 54930012H97VSM0I2R19 | Long             | EC               |  | US        |     13750 | NS      | $1193637.50   | 3.39%             |  |  |  | No            |                  1 | On Loan: No      |
| CONSTELLATION ENERGY CORPORATION.                     | CONSTELLATION ENERGY COMMON STOCK                     | CUSIP: 21037T109<br>LEI: 549300F8Y20RYGNGV346 | Long             | EC               |  | US        |      4836 | NS      | $1357368.48   | 3.85%             |  |  |  | No            |                  1 | On Loan: No      |
| PPL CORPORATION                                       | PPL CORP COMMON STOCK                                 | CUSIP: 69351T106<br>LEI: 9N3UAJSNOUXFKQLF3V18 | Long             | EC               |  | US        |     33568 | NS      | $1216840.00   | 3.45%             |  |  |  | No            |                  1 | On Loan: No      |
| THE WILLIAMS COMPANIES, INC.                          | WILLIAMS COS INC COMMON STOCK                         | CUSIP: 969457100<br>LEI: D71FAKCBLFS2O0RBPG08 | Long             | EC               |  | US        |     14500 | NS      | $975270.00    | 2.77%             |  |  |  | No            |                  1 | On Loan: No      |
| CORNING INCORPORATED                                  | CORNING INC COMMON STOCK                              | CUSIP: 219350105<br>LEI: 549300X2937PB0CJ7I56 | Long             | EC               |  | US        |     12250 | NS      | $1264812.50   | 3.59%             |  |  |  | No            |                  1 | On Loan: No      |
| CENTERPOINT ENERGY, INC.                              | CENTERPOINT ENERGY INC COMMON STOCK                   | CUSIP: 15189T107<br>LEI: 21TPXMRRHFKOBHDC8J74 | Long             | EC               |  | US        |     23500 | NS      | $932715.00    | 2.65%             |  |  |  | No            |                  1 | On Loan: No      |
| ARISTA NETWORKS, INC.                                 | ARISTA NETWORKS INC COMMON STOCK                      | CUSIP: N/A<br>LEI: 635400H1WKBLOQERUU95       | Long             | EC               |  | US        |      3343 | NS      | $473836.82    | 1.34%             |  |  |  | No            |                  1 | On Loan: No      |
| NISOURCE INC.                                         | NISOURCE INC COMMON STOCK                             | CUSIP: 65473P105<br>LEI: 549300D8GOWWH0SJB189 | Long             | EC               |  | US        |     35366 | NS      | $1566360.14   | 4.45%             |  |  |  | No            |                  1 | On Loan: No      |

### Signature

**Date Signed:** 2026-01-31

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

**Signature:** Andrew Metzger

**Name of Signer:** Andrew Metzger

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