# EDGAR Filing Document

**Accession Number:** 0000878719
**File Stem:** 0001752724-23-074248
**Filing Date:** 2023-3
**Character Count:** 77087
**Document Hash:** e8b21bf7c72d3400706ce6dfdc378872
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001752724-23-074248.hdr.sgml**: 20230330

**ACCESSION NUMBER**: 0001752724-23-074248

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20230131

**FILED AS OF DATE**: 20230330

**DATE AS OF CHANGE**: 20230330

**PERIOD START**: 20231031

**FILER**: 

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

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-06400
- **FILM NUMBER:** 23779787

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

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

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

## Series and Classes Contracts Data

### LSV VALUE EQUITY FUND (Series ID: S000006448)

| Class ID   | Class Name                 | Ticker Symbol   |
|:---|:---|:---|
| C000017646 | Institutional Class Shares | LSVEX           |
| C000142889 | Investor Class Shares      | LVAEX           |

## Nport-Ex

**Schedule of Investments**

January 31, 2023 (Unaudited)

---

| | | | |
|:---|:---|:---|:---|
| **LSV Value Equity Fund** | **LSV Value Equity Fund** | **LSV Value Equity Fund** | **LSV Value Equity Fund** |
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Shares | Value (000) | Value (000) |
|  **Common Stock (99.4%)** |  |  |  |
|  **Aerospace & Defense (1.6%)** |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Curtiss-Wright | 30400 | $| 5040 |
| &nbsp;&nbsp;&nbsp;&nbsp; Huntington Ingalls Industries | 20300 |  | 4477 |
| &nbsp;&nbsp;&nbsp;&nbsp; Lockheed Martin | 17800 |  | 8246 |
| &nbsp;&nbsp;&nbsp;&nbsp; Textron | 88400 |  | 6440 |
|  |  |  | 24203 |
|  **Agricultural Products (0.5%)** |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Ingredion | 69800 |  | 7175 |
|  **Air Freight & Logistics (0.9%)** |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; FedEx | 69900 |  | 13551 |
|  **Aircraft (0.7%)** |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Delta Air Lines\* | 133800 |  | 5232 |
| &nbsp;&nbsp;&nbsp;&nbsp; United Airlines Holdings\* | 106500 |  | 5214 |
|  |  |  | 10446 |
|  **Apparel Retail (0.6%)** |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Foot Locker | 204400 |  | 8893 |
|  **Apparel, Accessories & Luxury Goods (0.4%)** | **Apparel, Accessories & Luxury Goods (0.4%)** | **Apparel, Accessories & Luxury Goods (0.4%)** | **Apparel, Accessories & Luxury Goods (0.4%)** |
| &nbsp;&nbsp;&nbsp;&nbsp; Carter's | 79100 |  | 6595 |
|  **Asset Management & Custody Banks (3.0%)** | **Asset Management & Custody Banks (3.0%)** | **Asset Management & Custody Banks (3.0%)** | **Asset Management & Custody Banks (3.0%)** |
| &nbsp;&nbsp;&nbsp;&nbsp; Ameriprise Financial | 37900 |  | 13269 |
| &nbsp;&nbsp;&nbsp;&nbsp; Bank of New York Mellon | 338400 |  | 17113 |
| &nbsp;&nbsp;&nbsp;&nbsp; State Street | 170700 |  | 15590 |
|  |  |  | 45972 |
|  **Automotive (2.8%)** |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; American Axle & Manufacturing Holdings\* | 755300 |  | 6699 |
| &nbsp;&nbsp;&nbsp;&nbsp; BorgWarner | 154200 |  | 7291 |
| &nbsp;&nbsp;&nbsp;&nbsp; Ford Motor | 825900 |  | 11158 |
| &nbsp;&nbsp;&nbsp;&nbsp; General Motors | 323600 |  | 12724 |
| &nbsp;&nbsp;&nbsp;&nbsp; Goodyear Tire & Rubber\* | 486300 |  | 5471 |
|  |  |  | 43343 |
|  **Automotive Retail (0.5%)** |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Group 1 Automotive | 36000 |  | 7699 |
|  **Banks (5.3%)** |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Bank of America | 155000 |  | 5499 |
| &nbsp;&nbsp;&nbsp;&nbsp; BankUnited | 74000 |  | 2785 |
| &nbsp;&nbsp;&nbsp;&nbsp; Citizens Financial Group | 237600 |  | 10293 |
| &nbsp;&nbsp;&nbsp;&nbsp; Fifth Third Bancorp | 153100 |  | 5556 |
| &nbsp;&nbsp;&nbsp;&nbsp; Huntington Bancshares | 367400 |  | 5574 |
| &nbsp;&nbsp;&nbsp;&nbsp; KeyCorp | 313200 |  | 6010 |
| &nbsp;&nbsp;&nbsp;&nbsp; Popular | 68600 |  | 4709 |
| &nbsp;&nbsp;&nbsp;&nbsp; Regions Financial | 651100 |  | 15327 |
| &nbsp;&nbsp;&nbsp;&nbsp; Wells Fargo | 427500 |  | 20037 |
| &nbsp;&nbsp;&nbsp;&nbsp; Zions Bancorp | 104000 |  | 5529 |
|  |  |  | 81319 |

---

---

| | | |
|:---|:---|:---|
| **LSV Value Equity Fund** | **LSV Value Equity Fund** | **LSV Value Equity Fund** |
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Shares | &nbsp;&nbsp;&nbsp;&nbsp;Value (000) |
|  **Biotechnology (3.6%)** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Amgen | 72000 | $18173 |
| &nbsp;&nbsp;&nbsp;&nbsp; Biogen\* | 18400 | 5353 |
| &nbsp;&nbsp;&nbsp;&nbsp; Gilead Sciences | 320300 | 26886 |
| &nbsp;&nbsp;&nbsp;&nbsp; United Therapeutics\* | 19100 | 5026 |
|  |  | 55438 |
|  **Broadcasting (0.4%)** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Fox | 164500 | 5583 |
|  **Building & Construction (1.8%)** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Owens Corning | 101000 | 9762 |
| &nbsp;&nbsp;&nbsp;&nbsp; PulteGroup | 174600 | 9933 |
| &nbsp;&nbsp;&nbsp;&nbsp; TRI Pointe Homes\* | 326100 | 7203 |
|  |  | 26898 |
|  **Chemicals (2.7%)** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Chemours | 157900 | 5746 |
| &nbsp;&nbsp;&nbsp;&nbsp; Dow | 91000 | 5401 |
| &nbsp;&nbsp;&nbsp;&nbsp; Eastman Chemical | 91700 | 8085 |
| &nbsp;&nbsp;&nbsp;&nbsp; Huntsman | 302300 | 9580 |
| &nbsp;&nbsp;&nbsp;&nbsp; Ingevity\* | 87600 | 7222 |
| &nbsp;&nbsp;&nbsp;&nbsp; LyondellBasell Industries, Cl A | 57100 | 5521 |
|  |  | 41555 |
|  **Commercial Printing (0.2%)** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Deluxe | 165400 | 3306 |
|  **Commercial Services (0.3%)** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Western Union | 366100 | 5188 |
|  **Commodity Chemicals (0.2%)** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Trinseo | 109300 | 3033 |
|  **Computer & Electronics Retail (0.8%)** | **Computer & Electronics Retail (0.8%)** |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Best Buy | 99400 | 8819 |
| &nbsp;&nbsp;&nbsp;&nbsp; Rent-A-Center, Cl A | 120400 | 3237 |
|  |  | 12056 |
|  **Computers & Services (3.5%)** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Amdocs | 91400 | 8403 |
| &nbsp;&nbsp;&nbsp;&nbsp; DXC Technology\* | 207400 | 5959 |
| &nbsp;&nbsp;&nbsp;&nbsp; eBay | 116200 | 5752 |
| &nbsp;&nbsp;&nbsp;&nbsp; Hewlett Packard Enterprise | 625500 | 10089 |
| &nbsp;&nbsp;&nbsp;&nbsp; HP | 464000 | 13521 |
| &nbsp;&nbsp;&nbsp;&nbsp; Oracle | 62300 | 5511 |
| &nbsp;&nbsp;&nbsp;&nbsp; Xerox Holdings | 290800 | 4763 |
|  |  | 53998 |
|  **Construction & Engineering (0.5%)** | **Construction & Engineering (0.5%)** |  |
| &nbsp;&nbsp;&nbsp;&nbsp; EMCOR Group | 53200 | 7887 |
|  **Consumer Finance (0.3%)** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; OneMain Holdings, Cl A | 90700 | 3913 |

---

------

**Schedule of Investments**

January 31, 2023 (Unaudited)

---

| | | | |
|:---|:---|:---|:---|
| **LSV Value Equity Fund** | **LSV Value Equity Fund** | **LSV Value Equity Fund** | **LSV Value Equity Fund** |
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Shares | &nbsp;&nbsp;&nbsp;&nbsp;Value (000) | &nbsp;&nbsp;&nbsp;&nbsp;Value (000) |
|  **Drug Retail (0.5%)** |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Walgreens Boots Alliance | 217700 | $| 8024 |
|  **Electric Utilities (0.7%)** |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; NRG Energy | 293800 |  | 10054 |
|  **Electrical Components & Equipment (0.3%)** | **Electrical Components & Equipment (0.3%)** | **Electrical Components & Equipment (0.3%)** | **Electrical Components & Equipment (0.3%)** |
| &nbsp;&nbsp;&nbsp;&nbsp; Energizer Holdings | 124000 |  | 4600 |
|  **Electrical Services (0.5%)** |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Vistra | 304600 |  | 7024 |
|  **Financial Services (4.8%)** |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Ally Financial | 282100 |  | 9166 |
| &nbsp;&nbsp;&nbsp;&nbsp; Capital One Financial | 64600 |  | 7687 |
| &nbsp;&nbsp;&nbsp;&nbsp; Citigroup | 436100 |  | 22773 |
| &nbsp;&nbsp;&nbsp;&nbsp; Discover Financial Services | 57800 |  | 6747 |
| &nbsp;&nbsp;&nbsp;&nbsp; Goldman Sachs Group | 31500 |  | 11523 |
| &nbsp;&nbsp;&nbsp;&nbsp; Lazard, Cl A | 166800 |  | 6685 |
| &nbsp;&nbsp;&nbsp;&nbsp; Navient | 486000 |  | 9220 |
|  |  |  | 73801 |
|  **Food, Beverage & Tobacco (2.6%)** | **Food, Beverage & Tobacco (2.6%)** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Altria Group | 107200 |  | 4828 |
| &nbsp;&nbsp;&nbsp;&nbsp; Conagra Brands | 194600 |  | 7237 |
| &nbsp;&nbsp;&nbsp;&nbsp; JM Smucker | 38800 |  | 5929 |
| &nbsp;&nbsp;&nbsp;&nbsp; Molson Coors Beverage, Cl B | 321300 |  | 16894 |
| &nbsp;&nbsp;&nbsp;&nbsp; Tyson Foods, Cl A | 81100 |  | 5332 |
|  |  |  | 40220 |
|  **Forest Products (0.4%)** |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Louisiana-Pacific | 83200 |  | 5665 |
|  **Gas/Natural Gas (0.3%)** |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; UGI | 132400 |  | 5273 |
|  **General Merchandise Stores (0.1%)** | **General Merchandise Stores (0.1%)** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Big Lots | 118415 |  | 1937 |
|  **Health Care Distributors (1.5%)** | **Health Care Distributors (1.5%)** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Cardinal Health | 106100 |  | 8196 |
| &nbsp;&nbsp;&nbsp;&nbsp; McKesson | 41000 |  | 15526 |
|  |  |  | 23722 |
|  **Health Care Facilities (1.2%)** |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; HCA Healthcare | 32200 |  | 8213 |
| &nbsp;&nbsp;&nbsp;&nbsp; Select Medical Holdings | 183700 |  | 5340 |
| &nbsp;&nbsp;&nbsp;&nbsp; Universal Health Services, Cl B | 37700 |  | 5588 |
|  |  |  | 19141 |
|  **Health Care Services (2.4%)** |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Cigna | 51300 |  | 16245 |
| &nbsp;&nbsp;&nbsp;&nbsp; CVS Health | 171600 |  | 15139 |

---

---

| | | | |
|:---|:---|:---|:---|
| **LSV Value Equity Fund** | **LSV Value Equity Fund** | **LSV Value Equity Fund** | **LSV Value Equity Fund** |
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Shares | &nbsp;&nbsp;&nbsp;&nbsp;Value (000) | &nbsp;&nbsp;&nbsp;&nbsp;Value (000) |
|  **Health Care Services (continued)** | **Health Care Services (continued)** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; DaVita\* | 64800 | $| 5339 |
|  |  |  | 36723 |
|  **Hotel & Resort REITs (0.2%)** |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Service Properties Trust | 262429 |  | 2338 |
|  **Household Products, Furniture & Fixtures (0.8%)** | **Household Products, Furniture & Fixtures (0.8%)** | **Household Products, Furniture & Fixtures (0.8%)** | **Household Products, Furniture & Fixtures (0.8%)** |
| &nbsp;&nbsp;&nbsp;&nbsp; Whirlpool | 74400 |  | 11576 |
|  **Human Resource & Employment Services (0.5%)** | **Human Resource & Employment Services (0.5%)** | **Human Resource & Employment Services (0.5%)** | **Human Resource & Employment Services (0.5%)** |
| &nbsp;&nbsp;&nbsp;&nbsp; ManpowerGroup | 92400 |  | 8054 |
|  **Industrial Machinery (1.3%)** |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Hillenbrand | 118300 |  | 5544 |
| &nbsp;&nbsp;&nbsp;&nbsp; Mueller Industries | 102200 |  | 6699 |
| &nbsp;&nbsp;&nbsp;&nbsp; Snap-on | 30400 |  | 7561 |
|  |  |  | 19804 |
|  **Insurance (5.2%)** |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Aflac | 142500 |  | 10474 |
| &nbsp;&nbsp;&nbsp;&nbsp; American Financial Group | 37500 |  | 5347 |
| &nbsp;&nbsp;&nbsp;&nbsp; American International Group | 191300 |  | 12094 |
| &nbsp;&nbsp;&nbsp;&nbsp; CNO Financial Group | 278100 |  | 7164 |
| &nbsp;&nbsp;&nbsp;&nbsp; Hartford Financial Services Group | 160800 |  | 12480 |
| &nbsp;&nbsp;&nbsp;&nbsp; Lincoln National | 141000 |  | 4995 |
| &nbsp;&nbsp;&nbsp;&nbsp; MetLife | 133800 |  | 9770 |
| &nbsp;&nbsp;&nbsp;&nbsp; MGIC Investment | 484200 |  | 6837 |
| &nbsp;&nbsp;&nbsp;&nbsp; Principal Financial Group | 54100 |  | 5007 |
| &nbsp;&nbsp;&nbsp;&nbsp; Voya Financial | 82800 |  | 5777 |
|  |  |  | 79945 |
|  **Interactive Media & Services (0.6%)** | **Interactive Media & Services (0.6%)** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Meta Platforms, Cl A\* | 59800 |  | 8908 |
|  **Investment Banking & Brokerage (0.9%)** | **Investment Banking & Brokerage (0.9%)** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Jefferies Financial Group | 223000 |  | 8759 |
| &nbsp;&nbsp;&nbsp;&nbsp; Morgan Stanley | 54700 |  | 5324 |
|  |  |  | 14083 |
|  **IT Consulting & Other Services (0.4%)** | **IT Consulting & Other Services (0.4%)** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; International Business Machines | 49600 |  | 6683 |
|  **Leasing & Renting (0.7%)** |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Triton International | 161900 |  | 11437 |
|  **Machinery (2.7%)** |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; AGCO | 91100 |  | 12584 |
| &nbsp;&nbsp;&nbsp;&nbsp; Allison Transmission Holdings | 278100 |  | 12537 |
| &nbsp;&nbsp;&nbsp;&nbsp; Cummins | 64100 |  | 15995 |
|  |  |  | 41116 |

---

------

**Schedule of Investments**

January 31, 2023 (Unaudited)

---

| | | |
|:---|:---|:---|
| **LSV Value Equity Fund** | **LSV Value Equity Fund** | **LSV Value Equity Fund** |
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Shares | &nbsp;&nbsp;&nbsp;&nbsp;Value (000) |
|  **Media & Entertainment (1.4%)** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Comcast, Cl A | 490000 | $19282 |
| &nbsp;&nbsp;&nbsp;&nbsp; TEGNA | 112950 | 2251 |
|  |  | 21533 |
|  **Metal & Glass Containers (1.3%)** | **Metal & Glass Containers (1.3%)** |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Berry Global Group | 152200 | 9395 |
| &nbsp;&nbsp;&nbsp;&nbsp; O-I Glass, Cl I\* | 276700 | 5327 |
| &nbsp;&nbsp;&nbsp;&nbsp; Silgan Holdings | 89500 | 4823 |
|  |  | 19545 |
|  **Mortgage REITs (0.3%)** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Annaly Capital Management | 211125 | 4955 |
|  **Motorcycle Manufacturers (0.7%)** | **Motorcycle Manufacturers (0.7%)** |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Harley-Davidson | 229000 | 10541 |
|  **Movies & Entertainment (0.3%)** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Warner Bros Discovery\* | 281407 | 4170 |
|  **Office REITs (0.7%)** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Highwoods Properties | 149300 | 4534 |
| &nbsp;&nbsp;&nbsp;&nbsp; Office Properties Income Trust | 132500 | 2274 |
| &nbsp;&nbsp;&nbsp;&nbsp; Piedmont Office Realty Trust, Cl A | 376265 | 3988 |
|  |  | 10796 |
|  **Oil & Gas Exploration & Production (0.9%)** | **Oil & Gas Exploration & Production (0.9%)** |  |
| &nbsp;&nbsp;&nbsp;&nbsp; APA | 314700 | 13951 |
| &nbsp;&nbsp;&nbsp;&nbsp; Vitesse Energy\* | 26245 | 419 |
|  |  | 14370 |
|  **Oil & Gas Refining & Marketing (0.7%)** | **Oil & Gas Refining & Marketing (0.7%)** |  |
| &nbsp;&nbsp;&nbsp;&nbsp; HF Sinclair | 182300 | 10373 |
|  **Packaged Foods & Meats (0.6%)** | **Packaged Foods & Meats (0.6%)** |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Kraft Heinz | 214700 | 8702 |
|  **Paper Packaging (0.9%)** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; International Paper | 140600 | 5880 |
| &nbsp;&nbsp;&nbsp;&nbsp; Westrock | 217800 | 8546 |
|  |  | 14426 |
|  **Petroleum & Fuel Products (5.7%)** | **Petroleum & Fuel Products (5.7%)** |  |
| &nbsp;&nbsp;&nbsp;&nbsp; ExxonMobil | 362300 | 42030 |
| &nbsp;&nbsp;&nbsp;&nbsp; Marathon Oil | 556100 | 15276 |
| &nbsp;&nbsp;&nbsp;&nbsp; Marathon Petroleum | 97100 | 12479 |
| &nbsp;&nbsp;&nbsp;&nbsp; Phillips 66 | 98540 | 9881 |
| &nbsp;&nbsp;&nbsp;&nbsp; Valero Energy | 57500 | 8052 |
|  |  | 87718 |
|  **Pharmaceuticals (7.9%)** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; AbbVie | 34600 | 5112 |
| &nbsp;&nbsp;&nbsp;&nbsp; Bristol-Myers Squibb | 375200 | 27258 |
| &nbsp;&nbsp;&nbsp;&nbsp; Jazz Pharmaceuticals\* | 64400 | 10089 |

---

---

| | | | |
|:---|:---|:---|:---|
| **LSV Value Equity Fund** | **LSV Value Equity Fund** | **LSV Value Equity Fund** | **LSV Value Equity Fund** |
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Shares | &nbsp;&nbsp;&nbsp;&nbsp;Value (000) | &nbsp;&nbsp;&nbsp;&nbsp;Value (000) |
|  **Pharmaceuticals (continued)** |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Merck | 355100 | $| 38141 |
| &nbsp;&nbsp;&nbsp;&nbsp; Organon | 134600 |  | 4056 |
| &nbsp;&nbsp;&nbsp;&nbsp; Pfizer | 662100 |  | 29239 |
| &nbsp;&nbsp;&nbsp;&nbsp; Viatris, Cl W\* | 517700 |  | 6295 |
|  |  |  | 120190 |
|  **Property & Casualty Insurance (0.5%)** | **Property & Casualty Insurance (0.5%)** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; First American Financial | 118800 |  | 7350 |
|  **Real Estate (0.2%)** |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Host Hotels & Resorts | 159300 |  | 3003 |
|  **Reinsurance (0.3%)** |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Everest Re Group | 15000 |  | 5245 |
|  **Retail (2.2%)** |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Dick's Sporting Goods | 42800 |  | 5596 |
| &nbsp;&nbsp;&nbsp;&nbsp; Kohl's | 147600 |  | 4778 |
| &nbsp;&nbsp;&nbsp;&nbsp; Kroger | 374200 |  | 16701 |
| &nbsp;&nbsp;&nbsp;&nbsp; Macy's | 266500 |  | 6297 |
|  |  |  | 33372 |
|  **Retail REITs (0.4%)** |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Simon Property Group | 48300 |  | 6205 |
|  **Semiconductors (0.4%)** |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Qorvo\* | 52100 |  | 5661 |
|  **Semi-Conductors/Instruments (4.0%)** | **Semi-Conductors/Instruments (4.0%)** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Amkor Technology | 387000 |  | 11323 |
| &nbsp;&nbsp;&nbsp;&nbsp; Applied Materials | 45100 |  | 5028 |
| &nbsp;&nbsp;&nbsp;&nbsp; Diodes\* | 71600 |  | 6386 |
| &nbsp;&nbsp;&nbsp;&nbsp; Intel | 846400 |  | 23919 |
| &nbsp;&nbsp;&nbsp;&nbsp; QUALCOMM | 53800 |  | 7167 |
| &nbsp;&nbsp;&nbsp;&nbsp; Vishay Intertechnology | 334500 |  | 7657 |
|  |  |  | 61480 |
|  **Specialized Consumer Services (0.7%)** | **Specialized Consumer Services (0.7%)** | **Specialized Consumer Services (0.7%)** | **Specialized Consumer Services (0.7%)** |
| &nbsp;&nbsp;&nbsp;&nbsp; H&R Block | 258100 |  | 10061 |
|  **Specialty Stores (0.5%)** |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Office Depot\* | 149300 |  | 7704 |
|  **Steel & Steel Works (1.9%)** |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Reliance Steel & Aluminum | 63900 |  | 14534 |
| &nbsp;&nbsp;&nbsp;&nbsp; Steel Dynamics | 116800 |  | 14091 |
|  |  |  | 28625 |
|  **Systems Software (0.3%)** |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; VMware, Cl A\* | 34300 |  | 4201 |
|  **Technology Distributors (0.8%)** |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Arrow Electronics\* | 102200 |  | 12007 |

---

------

**Schedule of Investments**

January 31, 2023 (Unaudited)

---

| | | |
|:---|:---|:---|
| **LSV Value Equity Fund** | **LSV Value Equity Fund** | **LSV Value Equity Fund** |
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Shares | &nbsp;&nbsp;&nbsp;&nbsp;Value (000) |
|  **Technology Hardware, Storage & Peripherals (0.9%)** | **Technology Hardware, Storage & Peripherals (0.9%)** | **Technology Hardware, Storage & Peripherals (0.9%)** |
| &nbsp;&nbsp;&nbsp;&nbsp; Dell Technologies, Cl C | 186200 | $7563 |
| &nbsp;&nbsp;&nbsp;&nbsp; Seagate Technology Holdings | 88500 | 5999 |
|  |  | 13562 |
|  **Telephones & Telecommunications (4.1%)** | **Telephones & Telecommunications (4.1%)** |  |
| &nbsp;&nbsp;&nbsp;&nbsp; AT&T | 1297800 | 26436 |
| &nbsp;&nbsp;&nbsp;&nbsp; Cisco Systems | 386200 | 18797 |
| &nbsp;&nbsp;&nbsp;&nbsp; Verizon Communications | 415400 | 17268 |
|  |  | 62501 |
|  **Thrifts & Mortgage Finance (0.4%)** | **Thrifts & Mortgage Finance (0.4%)** |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Radian Group | 302800 | 6692 |
|  **Trucking (1.2%)** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Ryder System | 106200 | 10026 |
| &nbsp;&nbsp;&nbsp;&nbsp; Werner Enterprises | 172900 | 8121 |
|  |  | 18147 |
|  **TOTAL COMMON STOCK**<br> (Cost $1,338,526) |  | 1521314 |
|  | Face Amount<br>(000) |  |
|  **Repurchase Agreement (0.4%)** | **Repurchase Agreement (0.4%)** |  |
| &nbsp;&nbsp;&nbsp;&nbsp; South Street Securities 3.990%, dated 01/31/2023, to be repurchased on 02/01/2023, repurchase price $6,334 (collateralized by various U.S. Treasury obligations, ranging in par value $0 - $4,444, 0.000% - 4.125%, 04/30/2023 - 05/15/2041; total market value $6,460) | $6333 | 6333 |
|  **TOTAL REPURCHASE AGREEMENT**<br> (Cost $6,333) | **TOTAL REPURCHASE AGREEMENT**<br> (Cost $6,333) | 6333 |
|  **Total Investments – 99.8%**<br> (Cost $1,344,859) | **Total Investments – 99.8%**<br> (Cost $1,344,859) | $1527647 |

---

*Percentages are based on Net Assets of $1,530,525 (000).* 

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

*Cl — Class* 

*REIT — Real Estate Investment Trust* 

*LSV-QH-001-3900*

## Form NPORT-P: Monthly Portfolio Investments Report

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

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

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

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

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

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

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

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

  - **City:** OAKS

  - **State:** PA

  - **Foreign country:** US

  - **Zip / Postal Code:** 19456

  - **Telephone number:** 8774463863

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

- **a. Name of Series:** LSV Value Equity Fund

- **b. EDGAR series identifier (if any):** S000006448

- **c. LEI of Series:** 549300CRMW68A32OZG24

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

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

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

**Item A.4. Final filing**

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

### Fund Information

**Total Assets:** $1532331667.18

**Total Liabilities:** $1765986.88

**Net Assets:** $1530565680.30

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000017646 | 7.58%                | -5.27%               | 7.00%                |
| Class ID C000142889 | 7.53%                | -5.30%               | 6.97%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $18370056.86             | $91514775.41                               |
| Month 2  | $22364784.87             | $-116601768.36                             |
| Month 3  | $6953662.26              | $105265981.81                              |

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| META PLATFORMS, INC.                               | META PLATFORMS INC COMMON STOCK           | CUSIP: 30303M102<br>LEI: BQ4BKCS1HXDV9HN80Z93 | Long             | EC               |  | US        |     59800 | NS      | $8908406.00   | 0.58%             |  |  |  | No            |                  1 | On Loan: No      |
| VOYA FINANCIAL, INC.                               | VOYA FINANCIAL INC COMMON STOCK           | CUSIP: 929089100<br>LEI: 549300T065Z4KJ686G75 | Long             | EC               |  | US        |     82800 | NS      | $5776956.00   | 0.38%             |  |  |  | No            |                  1 | On Loan: No      |
| ONEMAIN HOLDINGS, INC.                             | ONEMAIN HOLDINGS INC COMMON STOCK         | CUSIP: 68268W103<br>LEI: 549300E3VEW8SMS5XW09 | Long             | EC               |  | US        |     90700 | NS      | $3912798.00   | 0.26%             |  |  |  | No            |                  1 | On Loan: No      |
| INTEL CORPORATION                                  | INTEL CORP COMMON STOCK                   | CUSIP: 458140100<br>LEI: KNX4USFCNGPY45LOCE31 | Long             | EC               |  | US        |    846400 | NS      | $23919264.00  | 1.56%             |  |  |  | No            |                  1 | On Loan: No      |
| INTERNATIONAL BUSINESS MACHINES CORPORATION        | INTL BUSINESS MACHINES CORP COMMON STOCK  | CUSIP: 459200101<br>LEI: VGRQXHF3J8VDLUA7XE92 | Long             | EC               |  | US        |     49600 | NS      | $6682608.00   | 0.44%             |  |  |  | No            |                  1 | On Loan: No      |
| QORVO, INC.                                        | QORVO INC COMMON STOCK                    | CUSIP: 74736K101<br>LEI: 254900YAUJV2EUEVBR11 | Long             | EC               |  | US        |     52100 | NS      | $5661186.00   | 0.37%             |  |  |  | No            |                  1 | On Loan: No      |
| RYDER SYSTEM, INC.                                 | RYDER SYSTEM INC COMMON STOCK             | CUSIP: 783549108<br>LEI: ZXJ6Y2OSPZXIVGRILD15 | Long             | EC               |  | US        |    106200 | NS      | $10026342.00  | 0.66%             |  |  |  | No            |                  1 | On Loan: No      |
| VISTRA CORP.                                       | Vistra Corp. COMMON STOCK                 | CUSIP: 92840M102<br>LEI: 549300KP43CPCUJOOG15 | Long             | EC               |  | US        |    304600 | NS      | $7024076.00   | 0.46%             |  |  |  | No            |                  1 | On Loan: No      |
| LINCOLN NATIONAL CORPORATION                       | LINCOLN NATIONAL CORP COMMON STOCK        | CUSIP: 534187109<br>LEI: EFQMQROEDSNBRIP7LE47 | Long             | EC               |  | US        |    141000 | NS      | $4995630.00   | 0.33%             |  |  |  | No            |                  1 | On Loan: No      |
| Vitesse Energy Inc                                 | VITESSE ENERGY INC COMMON STOCK           | CUSIP: 92852X103<br>LEI: N/A                  | Long             | EC               |  | US        |     26245 | NS      | $418870.20    | 0.03%             |  |  |  | No            |                  1 | On Loan: No      |
| POPULAR, INC.                                      | POPULAR INC COMMON STOCK                  | CUSIP: 733174700<br>LEI: 5493008CARDZMVQ3LO89 | Long             | EC               |  | US        |     68600 | NS      | $4708704.00   | 0.31%             |  |  |  | No            |                  1 | On Loan: No      |
| BORGWARNER INC.                                    | BORGWARNER INC COMMON STOCK               | CUSIP: 099724106<br>LEI: 549300DSFX2IE88NSX47 | Long             | EC               |  | US        |    154200 | NS      | $7290576.00   | 0.48%             |  |  |  | No            |                  1 | On Loan: No      |
| JEFFERIES FINANCIAL GROUP INC.                     | JEFFERIES FINANCIAL GROUP IN COMMON STOCK | CUSIP: 47233W109<br>LEI: 549300HOF34RGOJ5YL07 | Long             | EC               |  | US        |    223000 | NS      | $8759440.00   | 0.57%             |  |  |  | No            |                  1 | On Loan: No      |
| UNITED AIRLINES HOLDINGS, INC.                     | UNITED AIRLINES HOLDINGS INC COMMON STOCK | CUSIP: 910047109<br>LEI: 98450079DA0B78DD6764 | Long             | EC               |  | US        |    106500 | NS      | $5214240.00   | 0.34%             |  |  |  | No            |                  1 | On Loan: No      |
| HEWLETT PACKARD ENTERPRISE COMPANY                 | HEWLETT PACKARD ENTERPRISE COMMON STOCK   | CUSIP: 42824C109<br>LEI: 549300BX44RGX6ANDV88 | Long             | EC               |  | US        |    625500 | NS      | $10089315.00  | 0.66%             |  |  |  | No            |                  1 | On Loan: No      |
| ORGANON & CO.                                      | ORGANON & CO COMMON STOCK                 | CUSIP: 68622V106<br>LEI: 549300AMCKY57OK2CO56 | Long             | EC               |  | US        |    134600 | NS      | $4055498.00   | 0.26%             |  |  |  | No            |                  1 | On Loan: No      |
| TRI POINTE HOMES, INC.                             | TRI POINTE HOMES INC COMMON STOCK         | CUSIP: 87265H109<br>LEI: N/A                  | Long             | EC               |  | US        |    326100 | NS      | $7203549.00   | 0.47%             |  |  |  | No            |                  1 | On Loan: No      |
| PIEDMONT OFFICE REALTY TRUST, INC.                 | PIEDMONT OFFICE REALTY TRU-A REIT         | CUSIP: 720190206<br>LEI: N/A                  | Long             | EC               |  | US        |    376265 | NS      | $3988409.00   | 0.26%             |  |  |  | No            |                  1 | On Loan: No      |
| SNAP-ON INCORPORATED                               | SNAP-ON INC COMMON STOCK                  | CUSIP: 833034101<br>LEI: HHWAT5TDOYZMM26KKQ73 | Long             | EC               |  | US        |     30400 | NS      | $7561392.00   | 0.49%             |  |  |  | No            |                  1 | On Loan: No      |
| ORACLE CORPORATION                                 | ORACLE CORP COMMON STOCK                  | CUSIP: 68389X105<br>LEI: 1Z4GXXU7ZHVWFCD8TV52 | Long             | EC               |  | US        |     62300 | NS      | $5511058.00   | 0.36%             |  |  |  | No            |                  1 | On Loan: No      |
| ARROW ELECTRONICS, INC.                            | ARROW ELECTRONICS INC COMMON STOCK        | CUSIP: 042735100<br>LEI: 549300YNNLBXT8N8R512 | Long             | EC               |  | US        |    102200 | NS      | $12007478.00  | 0.78%             |  |  |  | No            |                  1 | On Loan: No      |
| PHILLIPS 66                                        | PHILLIPS 66 COMMON STOCK                  | CUSIP: 718546104<br>LEI: 5493005JBO5YSIGK1814 | Long             | EC               |  | US        |     98540 | NS      | $9880605.80   | 0.65%             |  |  |  | No            |                  1 | On Loan: No      |
| The Bank of New York Mellon Corporation            | BANK OF NEW YORK MELLON CORP COMMON STOCK | CUSIP: 064058100<br>LEI: WFLLPEPC7FZXENRZV188 | Long             | EC               |  | US        |    338400 | NS      | $17112888.00  | 1.12%             |  |  |  | No            |                  1 | On Loan: No      |
| THE WESTERN UNION COMPANY                          | WESTERN UNION CO COMMON STOCK             | CUSIP: 959802109<br>LEI: 28ID94QU1140NC23S047 | Long             | EC               |  | US        |    366100 | NS      | $5187637.00   | 0.34%             |  |  |  | No            |                  1 | On Loan: No      |
| THE ODP CORPORATION                                | ODP CORP/THE COMMON STOCK                 | CUSIP: 88337F105<br>LEI: N/A                  | Long             | EC               |  | US        |    149300 | NS      | $7703880.00   | 0.50%             |  |  |  | No            |                  1 | On Loan: No      |
| EVEREST RE GROUP, LTD.                             | EVEREST RE GROUP LTD COMMON STOCK         | CUSIP: G3223R108<br>LEI: 549300N24XF2VV0B3570 | Long             | EC               |  | US        |     15000 | NS      | $5245350.00   | 0.34%             |  |  |  | No            |                  1 | On Loan: No      |
| COMCAST CORPORATION                                | COMCAST CORP-CLASS A COMMON STOCK         | CUSIP: 20030N101<br>LEI: 51M0QTTNCGUN7KFCFZ59 | Long             | EC               |  | US        |    490000 | NS      | $19281500.00  | 1.26%             |  |  |  | No            |                  1 | On Loan: No      |
| METLIFE, INC.                                      | METLIFE INC COMMON STOCK                  | CUSIP: 59156R108<br>LEI: C4BXATY60WC6XEOZDX54 | Long             | EC               |  | US        |    133800 | NS      | $9770076.00   | 0.64%             |  |  |  | No            |                  1 | On Loan: No      |
| SEAGATE TECHNOLOGY HOLDINGS PUBLIC LIMITED COMPANY | SEAGATE TECHNOLOGY HOLDINGS COMMON STOCK  | CUSIP: G7997R103<br>LEI: 635400RUXIFEZSRU8X70 | Long             | EC               |  | US        |     88500 | NS      | $5998530.00   | 0.39%             |  |  |  | No            |                  1 | On Loan: No      |
| WALGREENS BOOTS ALLIANCE, INC.                     | WALGREENS BOOTS ALLIANCE INC COMMON STOCK | CUSIP: 931427108<br>LEI: 549300RPTUOIXG4LIH86 | Long             | EC               |  | US        |    217700 | NS      | $8024422.00   | 0.52%             |  |  |  | No            |                  1 | On Loan: No      |
| CITIZENS FINANCIAL GROUP, INC.                     | CITIZENS FINANCIAL GROUP COMMON STOCK     | CUSIP: 174610105<br>LEI: 2138004JDDA4ZQUPFW65 | Long             | EC               |  | US        |    237600 | NS      | $10292832.00  | 0.67%             |  |  |  | No            |                  1 | On Loan: No      |
| NRG ENERGY, INC.                                   | NRG ENERGY INC COMMON STOCK               | CUSIP: 629377508<br>LEI: 5E2UPK5SW04M13XY7I38 | Long             | EC               |  | US        |    293800 | NS      | $10053836.00  | 0.66%             |  |  |  | No            |                  1 | On Loan: No      |
| VALERO ENERGY CORPORATION                          | VALERO ENERGY CORP COMMON STOCK           | CUSIP: 91913Y100<br>LEI: 549300XTO5VR8SKV1V74 | Long             | EC               |  | US        |     57500 | NS      | $8051725.00   | 0.53%             |  |  |  | No            |                  1 | On Loan: No      |
| PFIZER INC.                                        | PFIZER INC COMMON STOCK                   | CUSIP: 717081103<br>LEI: 765LHXWGK1KXCLTFYQ30 | Long             | EC               |  | US        |    662100 | NS      | $29238336.00  | 1.91%             |  |  |  | No            |                  1 | On Loan: No      |
| CARDINAL HEALTH, INC.                              | CARDINAL HEALTH INC COMMON STOCK          | CUSIP: 14149Y108<br>LEI: CCU46N3GJMF4OK4N7U60 | Long             | EC               |  | US        |    106100 | NS      | $8196225.00   | 0.54%             |  |  |  | No            |                  1 | On Loan: No      |
| CIGNA CORPORATION                                  | CIGNA CORP COMMON STOCK                   | CUSIP: 125523100<br>LEI: 549300VIWYMSIGT1U456 | Long             | EC               |  | US        |     51300 | NS      | $16245171.00  | 1.06%             |  |  |  | No            |                  1 | On Loan: No      |
| CVS HEALTH CORPORATION                             | CVS HEALTH CORP COMMON STOCK              | CUSIP: 126650100<br>LEI: 549300EJG376EN5NQE29 | Long             | EC               |  | US        |    171600 | NS      | $15138552.00  | 0.99%             |  |  |  | No            |                  1 | On Loan: No      |
| HIGHWOODS PROPERTIES, INC.                         | HIGHWOODS PROPERTIES INC REIT             | CUSIP: 431284108<br>LEI: ZIIGTYKL9T0X3HLTDX53 | Long             | EC               |  | US        |    149300 | NS      | $4534241.00   | 0.30%             |  |  |  | No            |                  1 | On Loan: No      |
| DAVITA INC.                                        | DAVITA INC COMMON STOCK                   | CUSIP: 23918K108<br>LEI: M2XHYMU3TZNEZURC6H66 | Long             | EC               |  | US        |     64800 | NS      | $5338872.00   | 0.35%             |  |  |  | No            |                  1 | On Loan: No      |
| Energizer Holdings, Inc.                           | ENERGIZER HOLDINGS INC COMMON STOCK       | CUSIP: 29272W109<br>LEI: 5493000D6NN0V57UME20 | Long             | EC               |  | US        |    124000 | NS      | $4600400.00   | 0.30%             |  |  |  | No            |                  1 | On Loan: No      |
| THE GOODYEAR TIRE & RUBBER COMPANY                 | GOODYEAR TIRE & RUBBER CO COMMON STOCK    | CUSIP: 382550101<br>LEI: 5493002BI0S2ZQUY3437 | Long             | EC               |  | US        |    486300 | NS      | $5470875.00   | 0.36%             |  |  |  | No            |                  1 | On Loan: No      |
| Amdocs Limited                                     | AMDOCS LTD COMMON STOCK                   | CUSIP: G02602103<br>LEI: 549300HQV672RJ7RQV66 | Long             | EC               |  | US        |     91400 | NS      | $8402402.00   | 0.55%             |  |  |  | No            |                  1 | On Loan: No      |
| DICK'S SPORTING GOODS, INC.                        | DICK'S SPORTING GOODS INC COMMON STOCK    | CUSIP: 253393102<br>LEI: 529900SSBV5I4LWSK313 | Long             | EC               |  | US        |     42800 | NS      | $5596528.00   | 0.37%             |  |  |  | No            |                  1 | On Loan: No      |
| MOLSON COORS BEVERAGE COMPANY                      | MOLSON COORS BEVERAGE CO - B COMMON STOCK | CUSIP: 60871R209<br>LEI: 54930073LBBH6ZCBE225 | Long             | EC               |  | US        |    321300 | NS      | $16893954.00  | 1.10%             |  |  |  | No            |                  1 | On Loan: No      |
| GROUP 1 AUTOMOTIVE, INC.                           | GROUP 1 AUTOMOTIVE INC COMMON STOCK       | CUSIP: 398905109<br>LEI: 549300US8QAZJLWYAF63 | Long             | EC               |  | US        |     36000 | NS      | $7698600.00   | 0.50%             |  |  |  | No            |                  1 | On Loan: No      |
| VERIZON COMMUNICATIONS INC.                        | VERIZON COMMUNICATIONS INC COMMON STOCK   | CUSIP: 92343V104<br>LEI: 2S72QS2UO2OESLG6Y829 | Long             | EC               |  | US        |    415400 | NS      | $17268178.00  | 1.13%             |  |  |  | No            |                  1 | On Loan: No      |
| OFFICE PROPERTIES INCOME TRUST                     | OFFICE PROPERTIES INCOME TRU REIT         | CUSIP: 67623C109<br>LEI: N/A                  | Long             | EC               |  | US        |    132500 | NS      | $2273700.00   | 0.15%             |  |  |  | No            |                  1 | On Loan: No      |
| FOOT LOCKER, INC.                                  | FOOT LOCKER INC COMMON STOCK              | CUSIP: 344849104<br>LEI: 549300X383CBNP6MTV94 | Long             | EC               |  | US        |    204400 | NS      | $8893444.00   | 0.58%             |  |  |  | No            |                  1 | On Loan: No      |
| LOCKHEED MARTIN CORPORATION                        | LOCKHEED MARTIN CORP COMMON STOCK         | CUSIP: 539830109<br>LEI: DPRBOZP0K5RM2YE8UU08 | Long             | EC               |  | US        |     17800 | NS      | $8246028.00   | 0.54%             |  |  |  | No            |                  1 | On Loan: No      |
| THE GOLDMAN SACHS GROUP, INC.                      | GOLDMAN SACHS GROUP INC COMMON STOCK      | CUSIP: 38141G104<br>LEI: 784F5XWPLTWKTBV3E584 | Long             | EC               |  | US        |     31500 | NS      | $11523015.00  | 0.75%             |  |  |  | No            |                  1 | On Loan: No      |
| ALLISON TRANSMISSION HOLDINGS, INC.                | ALLISON TRANSMISSION HOLDING COMMON STOCK | CUSIP: 01973R101<br>LEI: 529900RP7DJ882LI9T83 | Long             | EC               |  | US        |    278100 | NS      | $12536748.00  | 0.82%             |  |  |  | No            |                  1 | On Loan: No      |
| AMERICAN INTERNATIONAL GROUP, INC.                 | AMERICAN INTERNATIONAL GROUP COMMON STOCK | CUSIP: 026874784<br>LEI: ODVCVCQG2BP6VHV36M30 | Long             | EC               |  | US        |    191300 | NS      | $12093986.00  | 0.79%             |  |  |  | No            |                  1 | On Loan: No      |
| REGIONS FINANCIAL CORPORATION                      | REGIONS FINANCIAL CORP COMMON STOCK       | CUSIP: 7591EP100<br>LEI: CW05CS5KW59QTC0DG824 | Long             | EC               |  | US        |    651100 | NS      | $15326894.00  | 1.00%             |  |  |  | No            |                  1 | On Loan: No      |
| AMERICAN AXLE & MANUFACTURING HOLDINGS, INC.       | AMERICAN AXLE & MFG HOLDINGS COMMON STOCK | CUSIP: 024061103<br>LEI: N/A                  | Long             | EC               |  | US        |    755300 | NS      | $6699511.00   | 0.44%             |  |  |  | No            |                  1 | On Loan: No      |
| BIOGEN INC.                                        | BIOGEN INC COMMON STOCK                   | CUSIP: 09062X103<br>LEI: W8J5WZB5IY3K0NDQT671 | Long             | EC               |  | US        |     18400 | NS      | $5352560.00   | 0.35%             |  |  |  | No            |                  1 | On Loan: No      |
| EMCOR GROUP, INC.                                  | EMCOR GROUP INC COMMON STOCK              | CUSIP: 29084Q100<br>LEI: 529900X0SQJB2J7YDU43 | Long             | EC               |  | US        |     53200 | NS      | $7886900.00   | 0.52%             |  |  |  | No            |                  1 | On Loan: No      |
| BANKUNITED, INC.                                   | BANKUNITED INC COMMON STOCK               | CUSIP: 06652K103<br>LEI: 96OVUWEW5D4YX6PFXD91 | Long             | EC               |  | US        |     80850 | NS      | $3043194.00   | 0.20%             |  |  |  | No            |                  1 | On Loan: No      |
| SELECT MEDICAL HOLDINGS CORPORATION                | SELECT MEDICAL HOLDINGS CORP COMMON STOCK | CUSIP: 81619Q105<br>LEI: N/A                  | Long             | EC               |  | US        |    183700 | NS      | $5340159.00   | 0.35%             |  |  |  | No            |                  1 | On Loan: No      |
| AMGEN INC.                                         | AMGEN INC COMMON STOCK                    | CUSIP: 031162100<br>LEI: 62QBXGPJ34PQ72Z12S66 | Long             | EC               |  | US        |     72000 | NS      | $18172800.00  | 1.19%             |  |  |  | No            |                  1 | On Loan: No      |
| ALLY FINANCIAL INC.                                | ALLY FINANCIAL INC COMMON STOCK           | CUSIP: 02005N100<br>LEI: 549300JBN1OSM8YNAI90 | Long             | EC               |  | US        |    282100 | NS      | $9165429.00   | 0.60%             |  |  |  | No            |                  1 | On Loan: No      |
| CNO FINANCIAL GROUP, INC.                          | CNO FINANCIAL GROUP INC COMMON STOCK      | CUSIP: 12621E103<br>LEI: 11XPYHB76MPM4Y4P2897 | Long             | EC               |  | US        |    278100 | NS      | $7163856.00   | 0.47%             |  |  |  | No            |                  1 | On Loan: No      |
| CUMMINS INC.                                       | CUMMINS INC COMMON STOCK                  | CUSIP: 231021106<br>LEI: ZUNI8PYC725B6H8JU438 | Long             | EC               |  | US        |     64100 | NS      | $15995514.00  | 1.05%             |  |  |  | No            |                  1 | On Loan: No      |
| FIRST AMERICAN FINANCIAL CORPORATION               | FIRST AMERICAN FINANCIAL COMMON STOCK     | CUSIP: 31847R102<br>LEI: 549300B6VEZK3N0A1P55 | Long             | EC               |  | US        |    118800 | NS      | $7350156.00   | 0.48%             |  |  |  | No            |                  1 | On Loan: No      |
| TRITON INTERNATIONAL LIMITED                       | TRITON INTERNATIONAL LTD COMMON STOCK     | CUSIP: G9078F107<br>LEI: N/A                  | Long             | EC               |  | US        |    161900 | NS      | $11436616.00  | 0.75%             |  |  |  | No            |                  1 | On Loan: No      |
| VIATRIS INC.                                       | VIATRIS INC COMMON STOCK                  | CUSIP: 92556V106<br>LEI: 254900ZZTSW7NL773X71 | Long             | EC               |  | US        |    517700 | NS      | $6295232.00   | 0.41%             |  |  |  | No            |                  1 | On Loan: No      |
| TYSON FOODS, INC.                                  | TYSON FOODS INC-CL A COMMON STOCK         | CUSIP: 902494103<br>LEI: WD6L6041MNRW1JE49D58 | Long             | EC               |  | US        |     81100 | NS      | $5332325.00   | 0.35%             |  |  |  | No            |                  1 | On Loan: No      |
| DIODES INCORPORATED                                | DIODES INC COMMON STOCK                   | CUSIP: 254543101<br>LEI: 549300XP2X1ARVH3BX23 | Long             | EC               |  | US        |     71600 | NS      | $6386004.00   | 0.42%             |  |  |  | No            |                  1 | On Loan: No      |
| Altria Group, Inc.                                 | ALTRIA GROUP INC COMMON STOCK             | CUSIP: 02209S103<br>LEI: XSGZFLO9YTNO9VCQV219 | Long             | EC               |  | US        |    107200 | NS      | $4828288.00   | 0.32%             |  |  |  | No            |                  1 | On Loan: No      |
| WHIRLPOOL CORPORATION                              | WHIRLPOOL CORP COMMON STOCK               | CUSIP: 963320106<br>LEI: WHENKOULSSK7WUM60H03 | Long             | EC               |  | US        |     74400 | NS      | $11575896.00  | 0.76%             |  |  |  | No            |                  1 | On Loan: No      |
| CONAGRA BRANDS, INC.                               | CONAGRA BRANDS INC COMMON STOCK           | CUSIP: 205887102<br>LEI: 54930035UDEIH090K650 | Long             | EC               |  | US        |    194600 | NS      | $7237174.00   | 0.47%             |  |  |  | No            |                  1 | On Loan: No      |
| THE HARTFORD FINANCIAL SERVICES GROUP, INC.        | HARTFORD FINANCIAL SVCS GRP COMMON STOCK  | CUSIP: 416515104<br>LEI: IU7C3FTM7Y3BQM112U94 | Long             | EC               |  | US        |    160800 | NS      | $12479688.00  | 0.82%             |  |  |  | No            |                  1 | On Loan: No      |
| MCKESSON CORPORATION                               | MCKESSON CORP COMMON STOCK                | CUSIP: 58155Q103<br>LEI: 549300WZWOM80UCFSF54 | Long             | EC               |  | US        |     41000 | NS      | $15525880.00  | 1.01%             |  |  |  | No            |                  1 | On Loan: No      |
| HCA HEALTHCARE, INC.                               | HCA HEALTHCARE INC COMMON STOCK           | CUSIP: 40412C101<br>LEI: 529900PH4ZGUH2MNEU89 | Long             | EC               |  | US        |     32200 | NS      | $8213254.00   | 0.54%             |  |  |  | No            |                  1 | On Loan: No      |
| AMKOR TECHNOLOGY, INC.                             | AMKOR TECHNOLOGY INC COMMON STOCK         | CUSIP: 031652100<br>LEI: 529900VHLRTKPWZJBM84 | Long             | EC               |  | US        |    387000 | NS      | $11323620.00  | 0.74%             |  |  |  | No            |                  1 | On Loan: No      |
| DXC TECHNOLOGY COMPANY                             | DXC TECHNOLOGY CO COMMON STOCK            | CUSIP: 23355L106<br>LEI: 549300DOVZ3EDJB7O259 | Long             | EC               |  | US        |    207400 | NS      | $5958602.00   | 0.39%             |  |  |  | No            |                  1 | On Loan: No      |
| AGCO CORPORATION                                   | AGCO CORP COMMON STOCK                    | CUSIP: 001084102<br>LEI: LYOM0B2GCF1JWXK5ZG04 | Long             | EC               |  | US        |     91100 | NS      | $12583643.00  | 0.82%             |  |  |  | No            |                  1 | On Loan: No      |
| THE KRAFT HEINZ COMPANY                            | KRAFT HEINZ CO/THE COMMON STOCK           | CUSIP: 500754106<br>LEI: 9845007488EC87F5AF14 | Long             | EC               |  | US        |    214700 | NS      | $8701791.00   | 0.57%             |  |  |  | No            |                  1 | On Loan: No      |
| RENT-A-CENTER, INC.                                | RENT-A-CENTER INC COMMON STOCK            | CUSIP: 76009N100<br>LEI: 529900QUHE15UQNCCJ63 | Long             | EC               |  | US        |    120400 | NS      | $3237556.00   | 0.21%             |  |  |  | No            |                  1 | On Loan: No      |
| BIG LOTS, INC.                                     | BIG LOTS INC COMMON STOCK                 | CUSIP: 089302103<br>LEI: N/A                  | Long             | EC               |  | US        |    118415 | NS      | $1937269.40   | 0.13%             |  |  |  | No            |                  1 | On Loan: No      |
| ZIONS BANCORPORATION, NATIONAL ASSOCIATION         | ZIONS BANCORP NA COMMON STOCK             | CUSIP: 989701107<br>LEI: 8WH0EE09O9V05QJZ3V89 | Long             | EC               |  | US        |    104000 | NS      | $5528640.00   | 0.36%             |  |  |  | No            |                  1 | On Loan: No      |
| BERRY GLOBAL GROUP, INC.                           | BERRY GLOBAL GROUP INC COMMON STOCK       | CUSIP: 08579W103<br>LEI: 549300G6KKUMMXM8NH73 | Long             | EC               |  | US        |    152200 | NS      | $9395306.00   | 0.61%             |  |  |  | No            |                  1 | On Loan: No      |
| DELL TECHNOLOGIES INC.                             | DELL TECHNOLOGIES -C COMMON STOCK         | CUSIP: 24703L202<br>LEI: 549300TJB5YBRUPOG437 | Long             | EC               |  | US        |    186200 | NS      | $7563444.00   | 0.49%             |  |  |  | No            |                  1 | On Loan: No      |
| QUALCOMM INCORPORATED                              | QUALCOMM INC COMMON STOCK                 | CUSIP: 747525103<br>LEI: H1J8DDZKZP6H7RWC0H53 | Long             | EC               |  | US        |     53800 | NS      | $7166698.00   | 0.47%             |  |  |  | No            |                  1 | On Loan: No      |
| EXXON MOBIL CORPORATION                            | EXXON MOBIL CORP COMMON STOCK             | CUSIP: 30231G102<br>LEI: J3WHBG0MTS7O8ZVMDC91 | Long             | EC               |  | US        |    362300 | NS      | $42030423.00  | 2.75%             |  |  |  | No            |                  1 | On Loan: No      |
| CAPITAL ONE FINANCIAL CORPORATION                  | CAPITAL ONE FINANCIAL CORP COMMON STOCK   | CUSIP: 14040H105<br>LEI: ZUE8T73ROZOF6FLBAR73 | Long             | EC               |  | US        |     64600 | NS      | $7687400.00   | 0.50%             |  |  |  | No            |                  1 | On Loan: No      |
| AFLAC INCORPORATED                                 | AFLAC INC COMMON STOCK                    | CUSIP: 001055102<br>LEI: 549300N0B7DOGLXWPP39 | Long             | EC               |  | US        |    142500 | NS      | $10473750.00  | 0.68%             |  |  |  | No            |                  1 | On Loan: No      |
| Xerox Holdings Corp                                | XEROX HOLDINGS CORP COMMON STOCK          | CUSIP: 98421M106<br>LEI: 5493000Y33XDVO2CXC18 | Long             | EC               |  | US        |    290800 | NS      | $4763304.00   | 0.31%             |  |  |  | No            |                  1 | On Loan: No      |
| CARTER'S, INC.                                     | CARTER'S INC COMMON STOCK                 | CUSIP: 146229109<br>LEI: 5299003WAQK4R3L3ZU36 | Long             | EC               |  | US        |     79100 | NS      | $6594567.00   | 0.43%             |  |  |  | No            |                  1 | On Loan: No      |
| HUNTSMAN CORPORATION                               | HUNTSMAN CORP COMMON STOCK                | CUSIP: 447011107<br>LEI: 5299000V56320A7RIQ67 | Long             | EC               |  | US        |    302300 | NS      | $9579887.00   | 0.63%             |  |  |  | No            |                  1 | On Loan: No      |
| BEST BUY CO., INC.                                 | BEST BUY CO INC COMMON STOCK              | CUSIP: 086516101<br>LEI: HL5XPTVRV0O8TUN5LL90 | Long             | EC               |  | US        |     99400 | NS      | $8818768.00   | 0.58%             |  |  |  | No            |                  1 | On Loan: No      |
| KOHL'S CORPORATION                                 | KOHLS CORP COMMON STOCK                   | CUSIP: 500255104<br>LEI: 549300JF6LPRTRJ0FH50 | Long             | EC               |  | US        |    147600 | NS      | $4777812.00   | 0.31%             |  |  |  | No            |                  1 | On Loan: No      |
| WERNER ENTERPRISES, INC.                           | WERNER ENTERPRISES INC COMMON STOCK       | CUSIP: 950755108<br>LEI: 549300P6XRGOCHHJST37 | Long             | EC               |  | US        |    172900 | NS      | $8121113.00   | 0.53%             |  |  |  | No            |                  1 | On Loan: No      |
| CITIGROUP INC.                                     | CITIGROUP INC COMMON STOCK                | CUSIP: 172967424<br>LEI: 6SHGI4ZSSLCXXQSBB395 | Long             | EC               |  | US        |    436100 | NS      | $22773142.00  | 1.49%             |  |  |  | No            |                  1 | On Loan: No      |
| AT&T INC.                                          | AT&T INC COMMON STOCK                     | CUSIP: 00206R102<br>LEI: 549300Z40J86GGSTL398 | Long             | EC               |  | US        |   1297800 | NS      | $26436186.00  | 1.73%             |  |  |  | No            |                  1 | On Loan: No      |
| DISCOVER FINANCIAL SERVICES                        | DISCOVER FINANCIAL SERVICES COMMON STOCK  | CUSIP: 254709108<br>LEI: Z1YLO2USPORE63VVUL20 | Long             | EC               |  | US        |     57800 | NS      | $6746994.00   | 0.44%             |  |  |  | No            |                  1 | On Loan: No      |
| MORGAN STANLEY                                     | MORGAN STANLEY COMMON STOCK               | CUSIP: 617446448<br>LEI: IGJSJL3JD5P30I6NJZ34 | Long             | EC               |  | US        |     54700 | NS      | $5323951.00   | 0.35%             |  |  |  | No            |                  1 | On Loan: No      |
| FORD MOTOR COMPANY                                 | FORD MOTOR CO COMMON STOCK                | CUSIP: 345370860<br>LEI: 20S05OYHG0MQM4VUIC57 | Long             | EC               |  | US        |    825900 | NS      | $11157909.00  | 0.73%             |  |  |  | No            |                  1 | On Loan: No      |
| HUNTINGTON BANCSHARES INCORPORATED                 | HUNTINGTON BANCSHARES INC COMMON STOCK    | CUSIP: 446150104<br>LEI: 549300XTVCVV9I7B5T19 | Long             | EC               |  | US        |    367400 | NS      | $5573458.00   | 0.36%             |  |  |  | No            |                  1 | On Loan: No      |
| TEGNA INC.                                         | TEGNA INC COMMON STOCK                    | CUSIP: 87901J105<br>LEI: 549300YC5EDBGX85AO10 | Long             | EC               |  | US        |    112950 | NS      | $2251093.50   | 0.15%             |  |  |  | No            |                  1 | On Loan: No      |
| HILLENBRAND, INC.                                  | HILLENBRAND INC COMMON STOCK              | CUSIP: 431571108<br>LEI: U246OE781574J2BUD366 | Long             | EC               |  | US        |    118300 | NS      | $5543538.00   | 0.36%             |  |  |  | No            |                  1 | On Loan: No      |
| NAVIENT CORPORATION                                | NAVIENT CORP COMMON STOCK                 | CUSIP: 63938C108<br>LEI: 54930067J0ZNOEBRW338 | Long             | EC               |  | US        |    486000 | NS      | $9219420.00   | 0.60%             |  |  |  | No            |                  1 | On Loan: No      |
| FIFTH THIRD BANCORP                                | FIFTH THIRD BANCORP COMMON STOCK          | CUSIP: 316773100<br>LEI: THRNG6BD57P9QWTQLG42 | Long             | EC               |  | US        |    153100 | NS      | $5555999.00   | 0.36%             |  |  |  | No            |                  1 | On Loan: No      |
| VISHAY INTERTECHNOLOGY, INC.                       | VISHAY INTERTECHNOLOGY INC COMMON STOCK   | CUSIP: 928298108<br>LEI: 5493009O8F3QQJTCQR75 | Long             | EC               |  | US        |    334500 | NS      | $7656705.00   | 0.50%             |  |  |  | No            |                  1 | On Loan: No      |
| HP INC.                                            | HP INC COMMON STOCK                       | CUSIP: 40434L105<br>LEI: WHKXQACZ14C5XRO8LW03 | Long             | EC               |  | US        |    464000 | NS      | $13520960.00  | 0.88%             |  |  |  | No            |                  1 | On Loan: No      |
| THE J. M. SMUCKER COMPANY                          | JM SMUCKER CO/THE COMMON STOCK            | CUSIP: 832696405<br>LEI: 5493000WDH6A0LHDJD55 | Long             | EC               |  | US        |     38800 | NS      | $5928640.00   | 0.39%             |  |  |  | No            |                  1 | On Loan: No      |
| STATE STREET CORPORATION                           | STATE STREET CORP COMMON STOCK            | CUSIP: 857477103<br>LEI: 549300ZFEEJ2IP5VME73 | Long             | EC               |  | US        |    170700 | NS      | $15590031.00  | 1.02%             |  |  |  | No            |                  1 | On Loan: No      |
| DELUXE CORPORATION                                 | DELUXE CORP COMMON STOCK                  | CUSIP: 248019101<br>LEI: KWGNKB8TX9LE5TV29231 | Long             | EC               |  | US        |    165400 | NS      | $3306346.00   | 0.22%             |  |  |  | No            |                  1 | On Loan: No      |
| GENERAL MOTORS COMPANY                             | GENERAL MOTORS CO COMMON STOCK            | CUSIP: 37045V100<br>LEI: 54930070NSV60J38I987 | Long             | EC               |  | US        |    323600 | NS      | $12723952.00  | 0.83%             |  |  |  | No            |                  1 | On Loan: No      |
| MUELLER INDUSTRIES, INC.                           | MUELLER INDUSTRIES INC COMMON STOCK       | CUSIP: 624756102<br>LEI: 5493005IZFE4VJLLYG84 | Long             | EC               |  | US        |    102200 | NS      | $6699210.00   | 0.44%             |  |  |  | No            |                  1 | On Loan: No      |
| CURTISS-WRIGHT CORPORATION                         | CURTISS-WRIGHT CORP COMMON STOCK          | CUSIP: 231561101<br>LEI: TEL51ETZWP7D0ZM4X325 | Long             | EC               |  | US        |     30400 | NS      | $5040320.00   | 0.33%             |  |  |  | No            |                  1 | On Loan: No      |
| STEEL DYNAMICS, INC.                               | STEEL DYNAMICS INC COMMON STOCK           | CUSIP: 858119100<br>LEI: 549300HGGKEL4FYTTQ83 | Long             | EC               |  | US        |    116800 | NS      | $14090752.00  | 0.92%             |  |  |  | No            |                  1 | On Loan: No      |
| INTERNATIONAL PAPER COMPANY                        | INTERNATIONAL PAPER CO COMMON STOCK       | CUSIP: 460146103<br>LEI: 824LMFJDH41EY779Q875 | Long             | EC               |  | US        |    140600 | NS      | $5879892.00   | 0.38%             |  |  |  | No            |                  1 | On Loan: No      |
| WESTROCK COMPANY                                   | WESTROCK CO COMMON STOCK                  | CUSIP: 96145D105<br>LEI: 5493004Z9TCQW68YVL89 | Long             | EC               |  | US        |    217800 | NS      | $8546472.00   | 0.56%             |  |  |  | No            |                  1 | On Loan: No      |
| GILEAD SCIENCES, INC.                              | GILEAD SCIENCES INC COMMON STOCK          | CUSIP: 375558103<br>LEI: 549300WTZWR07K8MNV44 | Long             | EC               |  | US        |    320300 | NS      | $26885982.00  | 1.76%             |  |  |  | No            |                  1 | On Loan: No      |
| TEXTRON INC.                                       | TEXTRON INC COMMON STOCK                  | CUSIP: 883203101<br>LEI: 3PPKBHUG1HD6BO7RNR87 | Long             | EC               |  | US        |     88400 | NS      | $6439940.00   | 0.42%             |  |  |  | No            |                  1 | On Loan: No      |
| LAZARD LTD                                         | LAZARD LTD-CL A COMMON STOCK              | CUSIP: G54050102<br>LEI: 254900RIBCDJSUFG1A11 | Long             | EC               |  | US        |    166800 | NS      | $6685344.00   | 0.44%             |  |  |  | No            |                  1 | On Loan: No      |
| ABBVIE INC.                                        | ABBVIE INC COMMON STOCK                   | CUSIP: 00287Y109<br>LEI: FR5LCKFTG8054YNNRU85 | Long             | EC               |  | US        |     34600 | NS      | $5112150.00   | 0.33%             |  |  |  | No            |                  1 | On Loan: No      |
| EASTMAN CHEMICAL COMPANY                           | EASTMAN CHEMICAL CO COMMON STOCK          | CUSIP: 277432100<br>LEI: FDPVHDGJ1IQZFK9KH630 | Long             | EC               |  | US        |     91700 | NS      | $8085189.00   | 0.53%             |  |  |  | No            |                  1 | On Loan: No      |
| WELLS FARGO & COMPANY                              | WELLS FARGO & CO COMMON STOCK             | CUSIP: 949746101<br>LEI: PBLD0EJDB5FWOLXP3B76 | Long             | EC               |  | US        |    427500 | NS      | $20036925.00  | 1.31%             |  |  |  | No            |                  1 | On Loan: No      |
| APPLIED MATERIALS, INC.                            | APPLIED MATERIALS INC COMMON STOCK        | CUSIP: 038222105<br>LEI: 41BNNE1AFPNAZELZ6K07 | Long             | EC               |  | US        |     45100 | NS      | $5028199.00   | 0.33%             |  |  |  | No            |                  1 | On Loan: No      |
| INGEVITY CORPORATION                               | INGEVITY CORP COMMON STOCK                | CUSIP: 45688C107<br>LEI: 5493009UTFC4B5IMGF87 | Long             | EC               |  | US        |     87600 | NS      | $7221744.00   | 0.47%             |  |  |  | No            |                  1 | On Loan: No      |
| O-I GLASS, INC.                                    | O-I GLASS INC COMMON STOCK                | CUSIP: 67098H104<br>LEI: N/A                  | Long             | EC               |  | US        |    276700 | NS      | $5326475.00   | 0.35%             |  |  |  | No            |                  1 | On Loan: No      |
| AMERIPRISE FINANCIAL, INC.                         | AMERIPRISE FINANCIAL INC COMMON STOCK     | CUSIP: 03076C106<br>LEI: 6ZLKQF7QB6JAEKQS5388 | Long             | EC               |  | US        |     37900 | NS      | $13269548.00  | 0.87%             |  |  |  | No            |                  1 | On Loan: No      |
| MARATHON PETROLEUM CORPORATION                     | MARATHON PETROLEUM CORP COMMON STOCK      | CUSIP: 56585A102<br>LEI: 3BNYRYQHD39K4LCKQF12 | Long             | EC               |  | US        |     97100 | NS      | $12479292.00  | 0.82%             |  |  |  | No            |                  1 | On Loan: No      |
| TRINSEO PUBLIC LIMITED COMPANY                     | TRINSEO PLC COMMON STOCK                  | CUSIP: G9059U107<br>LEI: 549300TJ3HIGDA2Z8315 | Long             | EC               |  | US        |    109300 | NS      | $3033075.00   | 0.20%             |  |  |  | No            |                  1 | On Loan: No      |
| FOX CORPORATION                                    | FOX CORP - CLASS A COMMON STOCK           | CUSIP: 35137L105<br>LEI: 549300DDU6FDRBIELS05 | Long             | EC               |  | US        |    164500 | NS      | $5583130.00   | 0.36%             |  |  |  | No            |                  1 | On Loan: No      |
| SILGAN HOLDINGS INC.                               | SILGAN HOLDINGS INC COMMON STOCK          | CUSIP: 827048109<br>LEI: KAF673KJXD92C8KSLU49 | Long             | EC               |  | US        |     89500 | NS      | $4823155.00   | 0.32%             |  |  |  | No            |                  1 | On Loan: No      |
| PULTEGROUP, INC.                                   | PULTEGROUP INC COMMON STOCK               | CUSIP: 745867101<br>LEI: N/A                  | Long             | EC               |  | US        |    174600 | NS      | $9932994.00   | 0.65%             |  |  |  | No            |                  1 | On Loan: No      |
| SERVICE PROPERTIES TRUST                           | SERVICE PROPERTIES TRUST REIT             | CUSIP: 81761L102<br>LEI: 529900IS770AG1K9QG27 | Long             | EC               |  | US        |    262429 | NS      | $2338242.39   | 0.15%             |  |  |  | No            |                  1 | On Loan: No      |
| DELTA AIR LINES, INC.                              | DELTA AIR LINES INC COMMON STOCK          | CUSIP: 247361702<br>LEI: Q2CCMS6R0AS67HJMBN42 | Long             | EC               |  | US        |    133800 | NS      | $5231580.00   | 0.34%             |  |  |  | No            |                  1 | On Loan: No      |
| UGI CORPORATION                                    | UGI CORP COMMON STOCK                     | CUSIP: 902681105<br>LEI: DX6GCWD4Q1JO9CRE5I40 | Long             | EC               |  | US        |    132400 | NS      | $5273492.00   | 0.34%             |  |  |  | No            |                  1 | On Loan: No      |
| HANESBRANDS INC.                                   | HANESBRANDS INC COMMON STOCK              | CUSIP: 410345102<br>LEI: GX5LWVWZLL5S4W1L2F20 | Long             | EC               |  | US        |    182553 | NS      | $1540747.32   | 0.10%             |  |  |  | No            |                  1 | On Loan: No      |
| FEDEX CORPORATION                                  | FEDEX CORP COMMON STOCK                   | CUSIP: 31428X106<br>LEI: 549300E707U7WNPZN687 | Long             | EC               |  | US        |     69900 | NS      | $13550814.00  | 0.89%             |  |  |  | No            |                  1 | On Loan: No      |
| N/A                                                | LSV TRI-PARTY REPO MORGAN STANLEY         | CUSIP: N/A<br>LEI: N/A                        | Long             | RA               |  | US        |   6333267 | PA      | $6333266.51   | 0.41%             |  |  |  | No            |                  2 | On Loan: No      |
| LyondellBasell Industries N.V.                     | LYONDELLBASELL INDU-CL A COMMON STOCK     | CUSIP: N53745100<br>LEI: BN6WCCZ8OVP3ITUUVN49 | Long             | EC               |  | US        |     57100 | NS      | $5520999.00   | 0.36%             |  |  |  | No            |                  1 | On Loan: No      |
| CISCO SYSTEMS, INC.                                | CISCO SYSTEMS INC COMMON STOCK            | CUSIP: 17275R102<br>LEI: 549300LKFJ962MZ46593 | Long             | EC               |  | US        |    386200 | NS      | $18796354.00  | 1.23%             |  |  |  | No            |                  1 | On Loan: No      |
| UNIVERSAL HEALTH SERVICES, INC.                    | UNIVERSAL HEALTH SERVICES-B COMMON STOCK  | CUSIP: 913903100<br>LEI: 549300YGMGQDO0NMJD09 | Long             | EC               |  | US        |     37700 | NS      | $5587517.00   | 0.37%             |  |  |  | No            |                  1 | On Loan: No      |
| KEYCORP                                            | KEYCORP COMMON STOCK                      | CUSIP: 493267108<br>LEI: RKPI3RZGV1V1FJTH5T61 | Long             | EC               |  | US        |    313200 | NS      | $6010308.00   | 0.39%             |  |  |  | No            |                  1 | On Loan: No      |
| UNITED THERAPEUTICS CORPORATION                    | UNITED THERAPEUTICS CORP COMMON STOCK     | CUSIP: 91307C102<br>LEI: 5299005C4HZL4UWROC14 | Long             | EC               |  | US        |     19100 | NS      | $5026547.00   | 0.33%             |  |  |  | No            |                  1 | On Loan: No      |
| PRINCIPAL FINANCIAL GROUP, INC.                    | PRINCIPAL FINANCIAL GROUP COMMON STOCK    | CUSIP: 74251V102<br>LEI: CUMYEZJOAF02RYZ1JJ85 | Long             | EC               |  | US        |     54100 | NS      | $5006955.00   | 0.33%             |  |  |  | No            |                  1 | On Loan: No      |
| LOUISIANA-PACIFIC CORPORATION                      | LOUISIANA-PACIFIC CORP COMMON STOCK       | CUSIP: 546347105<br>LEI: 549300C7E2UAO5BVRR75 | Long             | EC               |  | US        |     83200 | NS      | $5665088.00   | 0.37%             |  |  |  | No            |                  1 | On Loan: No      |
| HUNTINGTON INGALLS INDUSTRIES, INC.                | HUNTINGTON INGALLS INDUSTRIE COMMON STOCK | CUSIP: 446413106<br>LEI: 5TZLZ6WJTBVJ0QWBG121 | Long             | EC               |  | US        |     20300 | NS      | $4476962.00   | 0.29%             |  |  |  | No            |                  1 | On Loan: No      |
| EBAY INC.                                          | EBAY INC COMMON STOCK                     | CUSIP: 278642103<br>LEI: OML71K8X303XQONU6T67 | Long             | EC               |  | US        |    116200 | NS      | $5751900.00   | 0.38%             |  |  |  | No            |                  1 | On Loan: No      |
| MGIC INVESTMENT CORPORATION                        | MGIC INVESTMENT CORP COMMON STOCK         | CUSIP: 552848103<br>LEI: 254900S8483WM4M98R28 | Long             | EC               |  | US        |    484200 | NS      | $6836904.00   | 0.45%             |  |  |  | No            |                  1 | On Loan: No      |
| MACY'S, INC.                                       | MACY'S INC COMMON STOCK                   | CUSIP: 55616P104<br>LEI: 529900NZQ81TIOW3CW52 | Long             | EC               |  | US        |    266500 | NS      | $6297395.00   | 0.41%             |  |  |  | No            |                  1 | On Loan: No      |
| INGREDION INCORPORATED                             | INGREDION INC COMMON STOCK                | CUSIP: 457187102<br>LEI: PKSTQ48QDN0XSVS7YK88 | Long             | EC               |  | US        |     69800 | NS      | $7175440.00   | 0.47%             |  |  |  | No            |                  1 | On Loan: No      |
| HOST HOTELS & RESORTS, INC.                        | HOST HOTELS & RESORTS INC REIT            | CUSIP: 44107P104<br>LEI: N6EL63S0K3PB1YFTDI24 | Long             | EC               |  | US        |    172400 | NS      | $3249740.00   | 0.21%             |  |  |  | No            |                  1 | On Loan: No      |
| H & R BLOCK, INC.                                  | H&R BLOCK INC COMMON STOCK                | CUSIP: 093671105<br>LEI: 549300CE3KUCWLZBG404 | Long             | EC               |  | US        |    258100 | NS      | $10060738.00  | 0.66%             |  |  |  | No            |                  1 | On Loan: No      |
| SIMON PROPERTY GROUP, INC.                         | SIMON PROPERTY GROUP INC REIT             | CUSIP: 828806109<br>LEI: 529900GQL5X8H7AO3T64 | Long             | EC               |  | US        |     48300 | NS      | $6204618.00   | 0.41%             |  |  |  | No            |                  1 | On Loan: No      |
| MARATHON OIL CORPORATION                           | MARATHON OIL CORP COMMON STOCK            | CUSIP: 565849106<br>LEI: 1FRVQX2CRLGC1XLP5727 | Long             | EC               |  | US        |    556100 | NS      | $15276067.00  | 1.00%             |  |  |  | No            |                  1 | On Loan: No      |
| WARNER BROS. DISCOVERY, INC.                       | WARNER BROS DISCOVERY INC COMMON STOCK    | CUSIP: 934423104<br>LEI: 5493006ZCRFWKF6B1K26 | Long             | EC               |  | US        |    281407 | NS      | $4170451.74   | 0.27%             |  |  |  | No            |                  1 | On Loan: No      |
| RELIANCE STEEL & ALUMINUM CO.                      | RELIANCE STEEL & ALUMINUM COMMON STOCK    | CUSIP: 759509102<br>LEI: 549300E287ZOFT3C5Z56 | Long             | EC               |  | US        |     63900 | NS      | $14534055.00  | 0.95%             |  |  |  | No            |                  1 | On Loan: No      |
| BRISTOL-MYERS SQUIBB COMPANY                       | BRISTOL-MYERS SQUIBB CO COMMON STOCK      | CUSIP: 110122108<br>LEI: HLYYNH7UQUORYSJQCN42 | Long             | EC               |  | US        |    375200 | NS      | $27258280.00  | 1.78%             |  |  |  | No            |                  1 | On Loan: No      |
| MERCK & CO., INC.                                  | MERCK & CO. INC. COMMON STOCK             | CUSIP: 58933Y105<br>LEI: 4YV9Y5M8S0BRK1RP0397 | Long             | EC               |  | US        |    355100 | NS      | $38141291.00  | 2.49%             |  |  |  | No            |                  1 | On Loan: No      |
| AMERICAN FINANCIAL GROUP, INC.                     | AMERICAN FINANCIAL GROUP INC COMMON STOCK | CUSIP: 025932104<br>LEI: 549300AFOM7IVKIU1G39 | Long             | EC               |  | US        |     37500 | NS      | $5347125.00   | 0.35%             |  |  |  | No            |                  1 | On Loan: No      |
| BANK OF AMERICA CORPORATION                        | BANK OF AMERICA CORP COMMON STOCK         | CUSIP: 060505104<br>LEI: 9DJT3UXIJIZJI4WXO774 | Long             | EC               |  | US        |    155000 | NS      | $5499400.00   | 0.36%             |  |  |  | No            |                  1 | On Loan: No      |
| ANNALY CAPITAL MANAGEMENT, INC.                    | ANNALY CAPITAL MANAGEMENT IN REIT         | CUSIP: 035710839<br>LEI: 2DTL0G3FPRYUT58TI025 | Long             | EC               |  | US        |    211125 | NS      | $4955103.75   | 0.32%             |  |  |  | No            |                  1 | On Loan: No      |
| MANPOWERGROUP INC.                                 | MANPOWERGROUP INC COMMON STOCK            | CUSIP: 56418H100<br>LEI: ERO1WSFOSR0JJ6CRQ987 | Long             | EC               |  | US        |     92400 | NS      | $8053584.00   | 0.53%             |  |  |  | No            |                  1 | On Loan: No      |
| OWENS CORNING                                      | OWENS CORNING COMMON STOCK                | CUSIP: 690742101<br>LEI: JO5M6676RDJIZ2U8X907 | Long             | EC               |  | US        |    101000 | NS      | $9761650.00   | 0.64%             |  |  |  | No            |                  1 | On Loan: No      |
| RADIAN GROUP INC.                                  | RADIAN GROUP INC COMMON STOCK             | CUSIP: 750236101<br>LEI: 54930005OUP720S5U385 | Long             | EC               |  | US        |    302800 | NS      | $6691880.00   | 0.44%             |  |  |  | No            |                  1 | On Loan: No      |
| DOW INC.                                           | DOW INC COMMON STOCK                      | CUSIP: 260557103<br>LEI: 5493003S21INSLK2IP73 | Long             | EC               |  | US        |     91000 | NS      | $5400850.00   | 0.35%             |  |  |  | No            |                  1 | On Loan: No      |
| HF SINCLAIR CORPORATION                            | HF SINCLAIR CORP COMMON STOCK             | CUSIP: 403949100<br>LEI: N/A                  | Long             | EC               |  | US        |    182300 | NS      | $10372870.00  | 0.68%             |  |  |  | No            |                  1 | On Loan: No      |
| VMWARE, INC.                                       | VMWARE INC-CLASS A COMMON STOCK           | CUSIP: 928563402<br>LEI: 549300BUDHS3LRWBE814 | Long             | EC               |  | US        |     34300 | NS      | $4200721.00   | 0.27%             |  |  |  | No            |                  1 | On Loan: No      |
| HARLEY-DAVIDSON, INC.                              | HARLEY-DAVIDSON INC COMMON STOCK          | CUSIP: 412822108<br>LEI: ZDNAWZWXIKMWI51R2A08 | Long             | EC               |  | US        |    229000 | NS      | $10540870.00  | 0.69%             |  |  |  | No            |                  1 | On Loan: No      |
| JAZZ PHARMACEUTICALS PUBLIC LIMITED COMPANY        | JAZZ PHARMACEUTICALS PLC COMMON STOCK     | CUSIP: G50871105<br>LEI: 635400GAUMJCLEZRRV50 | Long             | EC               |  | US        |     64400 | NS      | $10088904.00  | 0.66%             |  |  |  | No            |                  1 | On Loan: No      |
| THE KROGER CO.                                     | KROGER CO COMMON STOCK                    | CUSIP: 501044101<br>LEI: 6CPEOKI6OYJ13Q6O7870 | Long             | EC               |  | US        |    374200 | NS      | $16700546.00  | 1.09%             |  |  |  | No            |                  1 | On Loan: No      |
| APA CORPORATION                                    | APA CORP COMMON STOCK                     | CUSIP: 03743Q108<br>LEI: 549300VCIWLRHYVSHC79 | Long             | EC               |  | US        |    314700 | NS      | $13950651.00  | 0.91%             |  |  |  | No            |                  1 | On Loan: No      |
| THE CHEMOURS COMPANY                               | CHEMOURS CO/THE COMMON STOCK              | CUSIP: 163851108<br>LEI: 549300M1BOLNXL8DOV14 | Long             | EC               |  | US        |    157900 | NS      | $5745981.00   | 0.38%             |  |  |  | No            |                  1 | On Loan: No      |

### Signature

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

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

**Signature:** Andy Metzger

**Name of Signer:** Andy Metzger

**Title:** CFO