# EDGAR Filing Document

**Accession Number:** 0000890540
**File Stem:** 0002048251-25-003897
**Filing Date:** 2025-12
**Character Count:** 30578
**Document Hash:** e8d65761bd08d8f9df6341aa757018a6
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0002048251-25-003897.hdr.sgml**: 20251230

**ACCESSION NUMBER**: 0002048251-25-003897

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 1

**CONFORMED PERIOD OF REPORT**: 20251031

**FILED AS OF DATE**: 20251230

**DATE AS OF CHANGE**: 20251230

**PERIOD START**: 20251031

**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:** 251612074

**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

### KOPERNIK INTERNATIONAL FUND (Series ID: S000049911)

| Class ID   | Class Name     | Ticker Symbol   |
|:---|:---|:---|
| C000157593 | CLASS I SHARES | KGIIX           |

## 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:** Kopernik International Fund

- **b. EDGAR series identifier (if any):** S000049911

- **c. LEI of Series:** 549300ZHQ6X47R4OQ671

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

- **a. Date of fiscal year-end:** 2025-10-31

- **b. Date as of which information is reported:** 2025-10-31

**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:** $685556050.62

**Total Liabilities:** $696847.40

**Net Assets:** $684859203.22

**Cash Not Reported:** $217504.54

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000157593 | -0.98%               | 6.61%                | 4.55%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $19899376.20             | $-25033738.67                              |
| Month 2  | $9741000.47              | $36987400.89                               |
| Month 3  | $8356720.58              | $22000596.47                               |

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| GAZPROM NEFT' PAO                                          | GAZPROM NEFT PJSC COMMON STOCK                     | CUSIP: N/A<br>LEI: 253400KXA9P2AN72P004       | Long             | EC               |  | RU        |    2817940 | NS      | $4947263.35   | 0.72%             |  |  |  | No            |                  3 | On Loan: No      |
| BASF SE                                                    | BASF SE COMMON STOCK                               | CUSIP: N/A<br>LEI: 529900PM64WH8AF1E917       | Long             | EC               |  | DE        |      34326 | NS      | $1693700.75   | 0.25%             |  |  |  | No            |                  1 | On Loan: No      |
| Bangkok Bank Public Company Limited                        | BANGKOK BANK PCL-FOREIGN REG COMMON STOCK          | CUSIP: N/A<br>LEI: 549300CCL2BKJGMYXV60       | Long             | EC               |  | TH        |     347800 | NS      | $1704308.63   | 0.25%             |  |  |  | No            |                  2 | On Loan: No      |
| KOREAN AIR LINES CO.,LTD                                   | KOREAN AIR LINES CO LTD COMMON STOCK               | CUSIP: N/A<br>LEI: 988400C2UFBF4B660C58       | Long             | EC               |  | KR        |     108242 | NS      | $1679725.28   | 0.25%             |  |  |  | No            |                  1 | On Loan: No      |
| CARREFOUR SA                                               | CARREFOUR SA COMMON STOCK                          | CUSIP: N/A<br>LEI: 549300B8P6MUJ1YWTS08       | Long             | EC               |  | FR        |     573117 | NS      | $8631645.93   | 1.26%             |  |  |  | No            |                  1 | On Loan: No      |
| Saudi Arabian Oil Company                                  | SAUDI ARABIAN OIL CO COMMON STOCK                  | CUSIP: N/A<br>LEI: 5586006WD91QHB7J4X50       | Long             | EC               |  | SA        |     250574 | NS      | $1731339.39   | 0.25%             |  |  |  | Yes           |                  1 | On Loan: No      |
| KT CORPORATION                                             | KT CORP-SP ADR DEPOSITARY RECEIPT                  | CUSIP: 48268K101<br>LEI: 9884005ACF8449EANY26 | Long             | EC               |  | US        |     213752 | NS      | $3965099.60   | 0.58%             |  |  |  | No            |                  1 | On Loan: No      |
| LOTTE CHEMICAL CORPORATION                                 | LOTTE CHEMICAL CORP COMMON STOCK                   | CUSIP: N/A<br>LEI: 988400TPNFJZDPI94Y56       | Long             | EC               |  | KR        |      60303 | NS      | $2987384.28   | 0.44%             |  |  |  | No            |                  1 | On Loan: No      |
| AMUNDI SA                                                  | AMUNDI SA COMMON STOCK                             | CUSIP: N/A<br>LEI: 96950010FL2T1TJKR531       | Long             | EC               |  | FR        |      43518 | NS      | $3226077.67   | 0.47%             |  |  |  | Yes           |                  1 | On Loan: No      |
| NEWMONT CORPORATION                                        | NEWMONT CORP-CDI DEPOSITARY RECEIPT                | CUSIP: N/A<br>LEI: 549300VSP3RIX7FGDZ51       | Long             | EC               |  | AU        |     114641 | NS      | $9317732.44   | 1.36%             |  |  |  | No            |                  1 | On Loan: No      |
| PALADIN ENERGY LTD                                         | PALADIN ENERGY LTD COMMON STOCK                    | CUSIP: N/A<br>LEI: 549300M44UTJAP8J6B37       | Long             | EC               |  | AU        |    1173334 | NS      | $7360574.80   | 1.07%             |  |  |  | No            |                  1 | On Loan: No      |
| N/A                                                        | POLYUS PJSC-REG S-GDR DEPOSITARY RECEIPT           | CUSIP: 73181M117<br>LEI: N/A                  | Long             | EC               |  | GB        |     249258 | NS      | $9446454.46   | 1.38%             |  |  |  | No            |                  1 | On Loan: No      |
| MHP SE                                                     | MHP SE DEPOSITARY RECEIPT                          | CUSIP: 55302T204<br>LEI: 213800D7DXFXGA292757 | Long             | EC               |  | GB        |     709038 | NS      | $3997999.39   | 0.58%             |  |  |  | No            |                  1 | On Loan: No      |
| N/A                                                        | BROWN BROTHERS HARRIMAN SWEEP INTEREST             | CUSIP: N/A<br>LEI: N/A                        | Long             | STIV             |  | US        |  161224452 | PA      | $161224451.80 | 23.54%            |  |  |  | No            |                  1 | On Loan: No      |
| FEDERAL'NAYA SETEVAYA KOMPANIYA ROSSETI PAO                | FEDERAL GRID CO-ROSSETI PJSC COMMON STOCK          | CUSIP: N/A<br>LEI: 253400FZQ7Z49QZNSG30       | Long             | EC               |  | RU        | 3021385233 | NS      | $702995.57    | 0.10%             |  |  |  | No            |                  1 | On Loan: No      |
| GS Holdings Corp.                                          | GS HOLDINGS COMMON STOCK                           | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               |  | KR        |     130609 | NS      | $4389969.39   | 0.64%             |  |  |  | No            |                  1 | On Loan: No      |
| CK HUTCHISON HOLDINGS LIMITED                              | CK HUTCHISON HOLDINGS LTD COMMON STOCK             | CUSIP: N/A<br>LEI: 254900Z8HM1VEPOQ2G79       | Long             | EC               |  | HK        |    1904500 | NS      | $12629644.61  | 1.84%             |  |  |  | No            |                  1 | On Loan: No      |
| ROYAL GOLD, INC.                                           | ROYAL GOLD INC COMMON STOCK                        | CUSIP: 780287108<br>LEI: 5493001NGRU6SFL04184 | Long             | EC               |  | US        |      18459 | NS      | $3226448.61   | 0.47%             |  |  |  | No            |                  1 | On Loan: No      |
| MEG Energy Corp.                                           | MEG ENERGY CORP COMMON STOCK                       | CUSIP: 552704108<br>LEI: 5493002WXPTG5ZC1T326 | Long             | EC               |  | CA        |     294478 | NS      | $6231583.22   | 0.91%             |  |  |  | No            |                  1 | On Loan: No      |
| LENTA MKPAO                                                | LENTA PLC DEPOSITARY RECEIPT                       | CUSIP: 52634T200<br>LEI: 213800OMCE8QATH73N15 | Long             | EC               |  | GB        |    1271467 | NS      | $1601031.25   | 0.23%             |  |  |  | No            |                  1 | On Loan: No      |
| N/A                                                        | DREYFUS TREASURY SEC CASH-PT DPRXX US EQUITY       | CUSIP: 261941405<br>LEI: N/A                  | Long             | STIV             |  | US        |   13231661 | PA      | $13231660.53  | 1.93%             |  |  |  | No            |                  2 | On Loan: No      |
| KASIKORNBANK PUBLIC COMPANY LIMITED                        | KASIKORNBANK PCL-FOREIGN COMMON STOCK              | CUSIP: N/A<br>LEI: 5493004COSQ54937AW41       | Long             | EC               |  | TH        |     590300 | NS      | $3402545.43   | 0.50%             |  |  |  | No            |                  2 | On Loan: No      |
| GRUPPA LSR PAO                                             | LSR GROUP PJSC COMMON STOCK                        | CUSIP: N/A<br>LEI: 25340067LEEMJ79K8X43       | Long             | EC               |  | RU        |     510671 | NS      | $1333306.36   | 0.19%             |  |  |  | No            |                  1 | On Loan: No      |
| N/A                                                        | SPXW US 11/28/25 P6470 LONG                        | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               |  | US        |        213 | NC      | $570840.00    | 0.08%             |  |  |  | No            |                  1 | On Loan: No      |
| LG Corp.                                                   | LG CORP COMMON STOCK                               | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               |  | KR        |     214449 | NS      | $12060811.37  | 1.76%             |  |  |  | No            |                  1 | On Loan: No      |
| PAX GLOBAL TECHNOLOGY LIMITED                              | PAX GLOBAL TECHNOLOGY LTD COMMON STOCK             | CUSIP: N/A<br>LEI: 5299008CRGPD1WZXCD36       | Long             | EC               |  | HK        |    2147000 | NS      | $1472676.97   | 0.22%             |  |  |  | No            |                  1 | On Loan: No      |
| Electric Power Development Co., Ltd.                       | ELECTRIC POWER DEVELOPMENT C COMMON STOCK          | CUSIP: N/A<br>LEI: 549300KMHPUAQI8VEH90       | Long             | EC               |  | JP        |     177900 | NS      | $3381120.56   | 0.49%             |  |  |  | No            |                  1 | On Loan: No      |
| Petroleo Brasileiro S.A. (Petrobras)                       | Petroleo Brasileiro SA - Petrobras PREFERRED STOCK | CUSIP: N/A<br>LEI: 5493000J801JZRCMFE49       | Long             | EP               |  | BR        |    1926200 | NS      | $10626421.44  | 1.55%             |  |  |  | No            |                  1 | On Loan: No      |
| Yellow Cake PLC                                            | YELLOW CAKE PLC COMMON STOCK                       | CUSIP: N/A<br>LEI: 213800CVMYUGOA9EZY95       | Long             | EC               |  | GB        |    1645347 | NS      | $12746687.22  | 1.86%             |  |  |  | Yes           |                  1 | On Loan: No      |
| Sociedad Quimica y Minera de Chile S.A.                    | QUIMICA Y MINERA CHIL-SP ADR DEPOSITARY RECEIPT    | CUSIP: 833635105<br>LEI: TJ88LXZZW5PWIN93ZC81 | Long             | EC               |  | US        |      68173 | NS      | $3339795.27   | 0.49%             |  |  |  | No            |                  1 | On Loan: No      |
| BHP GROUP LIMITED                                          | BHP GROUP LTD COMMON STOCK                         | CUSIP: N/A<br>LEI: WZE1WSENV6JSZFK0JC28       | Long             | EC               |  | AU        |     123444 | NS      | $3519171.21   | 0.51%             |  |  |  | No            |                  1 | On Loan: No      |
| PALADIN ENERGY LTD                                         | PALADIN ENERGY LTD COMMON STOCK                    | CUSIP: Q7264T252<br>LEI: 549300M44UTJAP8J6B37 | Long             | EC               |  | CA        |      48079 | NS      | $297890.63    | 0.04%             |  |  |  | No            |                  1 | On Loan: No      |
| TELEPERFORMANCE SE                                         | TELEPERFORMANCE COMMON STOCK                       | CUSIP: N/A<br>LEI: 9695004GI61FHFFNRG61       | Long             | EC               |  | FR        |      38631 | NS      | $2758572.05   | 0.40%             |  |  |  | No            |                  1 | On Loan: No      |
| PT United Tractors Tbk                                     | UNITED TRACTORS TBK PT COMMON STOCK                | CUSIP: N/A<br>LEI: 529900N9ELYOWQV4FW14       | Long             | EC               |  | ID        |    1064900 | NS      | $1721813.51   | 0.25%             |  |  |  | No            |                  1 | On Loan: No      |
| GLENCORE PLC                                               | GLENCORE PLC COMMON STOCK                          | CUSIP: G39420107<br>LEI: 2138002658CPO9NBH955 | Long             | EC               |  | GB        |    4382736 | NS      | $20995770.26  | 3.07%             |  |  |  | No            |                  1 | On Loan: No      |
| HANKOOK TIRE & TECHNOLOGY CO., LTD.                        | HANKOOK TIRE & TECHNOLOGY CO COMMON STOCK          | CUSIP: N/A<br>LEI: 9884001BIEVM09M7AH02       | Long             | EC               |  | KR        |      62964 | NS      | $2044285.05   | 0.30%             |  |  |  | No            |                  1 | On Loan: No      |
| SBERBANK ROSSII PAO                                        | SBERBANK OF RUSSIA PJSC COMMON STOCK               | CUSIP: N/A<br>LEI: 549300WE6TAF5EEWQS81       | Long             | EC               |  | RU        |    8292394 | NS      | $8961943.24   | 1.31%             |  |  |  | No            |                  1 | On Loan: No      |
| CGN Power Co., Ltd.                                        | CGN POWER CO LTD-H COMMON STOCK                    | CUSIP: N/A<br>LEI: 529900D2UINCGWQYBK45       | Long             | EC               |  | HK        |   12630000 | NS      | $5003902.12   | 0.73%             |  |  |  | Yes           |                  1 | On Loan: No      |
| LG Uplus Corp                                              | LG UPLUS CORP COMMON STOCK                         | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               |  | KR        |    2270206 | NS      | $24267605.45  | 3.54%             |  |  |  | No            |                  1 | On Loan: No      |
| Sprott Physical Uranium Trust                              | SPROTT PHYSICAL URANIUM TR MUTUAL FUND             | CUSIP: 85210A104<br>LEI: N/A                  | Long             | EC               |  | CA        |     495095 | NS      | $9788588.18   | 1.43%             |  |  |  | No            |                  1 | On Loan: No      |
| VALE S.A.                                                  | VALE SA COMMON STOCK                               | CUSIP: N/A<br>LEI: 254900SMTWBX7RU2SR20       | Long             | EC               |  | BR        |     955300 | NS      | $11543611.56  | 1.69%             |  |  |  | No            |                  1 | On Loan: No      |
| BAIDU, INC.                                                | BAIDU INC-CLASS A COMMON STOCK                     | CUSIP: G07034104<br>LEI: 254900AL64IANZYI1E02 | Long             | EC               |  | HK        |     425250 | NS      | $6436685.47   | 0.94%             |  |  |  | No            |                  1 | On Loan: No      |
| Guangshen Railway Company Limited                          | GUANGSHEN RAILWAY CO LTD-H COMMON STOCK            | CUSIP: N/A<br>LEI: 529900YIR2NSEPF1UU41       | Long             | EC               |  | HK        |    9518000 | NS      | $2793327.92   | 0.41%             |  |  |  | No            |                  1 | On Loan: No      |
| GOLDEN AGRI-RESOURCES LTD                                  | GOLDEN AGRI-RESOURCES LTD COMMON STOCK             | CUSIP: N/A<br>LEI: 529900GAK9LTNC3IFY40       | Long             | EC               |  | SG        |   73589700 | NS      | $15831227.33  | 2.31%             |  |  |  | No            |                  1 | On Loan: No      |
| CHINA GAS HOLDINGS LIMITED                                 | CHINA GAS HOLDINGS LTD COMMON STOCK                | CUSIP: N/A<br>LEI: 254900KTSZLZ21VV8T33       | Long             | EC               |  | HK        |    1651200 | NS      | $1698335.55   | 0.25%             |  |  |  | No            |                  1 | On Loan: No      |
| NOVAGOLD RESOURCES INC.                                    | NOVAGOLD RESOURCES INC COMMON STOCK                | CUSIP: N/A<br>LEI: 529900587LVZTJ2BHS60       | Long             | EC               |  | US        |    1195579 | NS      | $9911349.91   | 1.45%             |  |  |  | No            |                  1 | On Loan: No      |
| The Bank of East Asia, Limited                             | BANK OF EAST ASIA LTD COMMON STOCK                 | CUSIP: N/A<br>LEI: CO6GC26LCGGRTUESIP55       | Long             | EC               |  | HK        |     543400 | NS      | $935623.60    | 0.14%             |  |  |  | No            |                  1 | On Loan: No      |
| SCHRODERS PLC                                              | SCHRODERS PLC COMMON STOCK                         | CUSIP: G78602144<br>LEI: 2138001YYBULX5SZ2H24 | Long             | EC               |  | GB        |    1392480 | NS      | $6948640.02   | 1.01%             |  |  |  | No            |                  1 | On Loan: No      |
| FIRST PACIFIC COMPANY LIMITED                              | FIRST PACIFIC CO COMMON STOCK                      | CUSIP: G34804107<br>LEI: 254900VS1MDQSDM9DE09 | Long             | EC               |  | HK        |    2392000 | NS      | $1931325.40   | 0.28%             |  |  |  | No            |                  1 | On Loan: No      |
| SJM Holdings Limited                                       | SJM HOLDINGS LTD COMMON STOCK                      | CUSIP: N/A<br>LEI: 529900XEAB40COT5ZL30       | Long             | EC               |  | HK        |    7056000 | NS      | $2567862.60   | 0.37%             |  |  |  | No            |                  1 | On Loan: No      |
| SEABRIDGE GOLD INC.                                        | SEABRIDGE GOLD INC COMMON STOCK                    | CUSIP: 811916105<br>LEI: 9845003FEO1A66376A92 | Long             | EC               |  | US        |     885373 | NS      | $21098438.59  | 3.08%             |  |  |  | No            |                  1 | On Loan: No      |
| Halyk Bank of Kazakhstan Joint Stock Company               | HALYK SAVINGS BANK-GDR REG S DEPOSITARY RECEIPT    | CUSIP: 46627J302<br>LEI: 213800NYDTVQM4SDUD67 | Long             | EC               |  | GB        |     145088 | NS      | $3874635.25   | 0.57%             |  |  |  | No            |                  1 | On Loan: No      |
| BANK VTB PAO                                               | VTB BANK PJSC COMMON STOCK                         | CUSIP: N/A<br>LEI: 253400V1H6ART1UQ0N98       | Long             | EC               |  | RU        |    2329481 | NS      | $587184.97    | 0.09%             |  |  |  | No            |                  1 | On Loan: No      |
| IVANHOE MINES LTD                                          | IVANHOE MINES LTD-CL A COMMON STOCK                | CUSIP: 46579R104<br>LEI: 5299006XZISURYIA4G32 | Long             | EC               |  | CA        |     483800 | NS      | $4839552.24   | 0.71%             |  |  |  | No            |                  1 | On Loan: No      |
| CENTRAIS ELETRICAS BRASILEIRAS SA ELETROBRAS               | CENTRAIS ELETRICAS BRASILIER COMMON STOCK          | CUSIP: N/A<br>LEI: 254900I8KYDELP4B4Z08       | Long             | EC               |  | BR        |     944160 | NS      | $9761090.57   | 1.43%             |  |  |  | No            |                  1 | On Loan: No      |
| SIBANYE STILLWATER LIMITED                                 | SIBANYE STILLWATER LTD COMMON STOCK                | CUSIP: N/A<br>LEI: 378900F238434B74D281       | Long             | EC               |  | ZA        |    1324310 | NS      | $3514322.99   | 0.51%             |  |  |  | No            |                  1 | On Loan: No      |
| INPEX CORPORATION                                          | INPEX CORP COMMON STOCK                            | CUSIP: N/A<br>LEI: 353800VHYYADPR6MXQ47       | Long             | EC               |  | JP        |     419000 | NS      | $7731444.79   | 1.13%             |  |  |  | No            |                  1 | On Loan: No      |
| KT CORPORATION                                             | KT CORP COMMON STOCK                               | CUSIP: N/A<br>LEI: 9884005ACF8449EANY26       | Long             | EC               |  | KR        |     212507 | NS      | $7319929.62   | 1.07%             |  |  |  | No            |                  1 | On Loan: No      |
| KOREA ELECTRIC POWER CORPORATION                           | KOREA ELECTRIC POWER CORP COMMON STOCK             | CUSIP: N/A<br>LEI: 988400QG33WS7JEIV602       | Long             | EC               |  | KR        |     364170 | NS      | $10901082.87  | 1.59%             |  |  |  | No            |                  1 | On Loan: No      |
| N/A                                                        | SPXW US 10/31/25 P6425 LONG                        | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               |  | US        |        230 | NC      | $1150.00      | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| SOCIETE MINIERE BARRICK                                    | BARRICK MINING CORP COMMON STOCK                   | CUSIP: 06849F108<br>LEI: 0O4KBQCJZX82UKGCBV73 | Long             | EC               |  | US        |     471094 | NS      | $15451883.20  | 2.26%             |  |  |  | No            |                  1 | On Loan: No      |
| SUZUKEN CO.,LTD.                                           | SUZUKEN CO LTD COMMON STOCK                        | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               |  | JP        |      29900 | NS      | $1135498.49   | 0.17%             |  |  |  | No            |                  1 | On Loan: No      |
| Kamigumi Co.,Ltd.                                          | KAMIGUMI CO LTD COMMON STOCK                       | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               |  | JP        |     118300 | NS      | $3551156.87   | 0.52%             |  |  |  | No            |                  1 | On Loan: No      |
| SLB N.V.                                                   | SLB LTD COMMON STOCK                               | CUSIP: 806857108<br>LEI: 213800ZUA17OK3QLGM62 | Long             | EC               |  | US        |     311634 | NS      | $11237522.04  | 1.64%             |  |  |  | No            |                  1 | On Loan: No      |
| VALTERRA PLATINUM LIMITED                                  | VALTERRA PLATINUM LIMITED COMMON STOCK             | CUSIP: N/A<br>LEI: 529900RORCZ0E5S5FX81       | Long             | EC               |  | ZA        |     489181 | NS      | $30255477.35  | 4.42%             |  |  |  | No            |                  1 | On Loan: No      |
| IMPALA PLATINUM HOLDINGS LIMITED                           | IMPALA PLATINUM HOLDINGS LTD COMMON STOCK          | CUSIP: N/A<br>LEI: 254900BZFIFB4PD2Z778       | Long             | EC               |  | ZA        |    1914092 | NS      | $20513298.52  | 3.00%             |  |  |  | No            |                  1 | On Loan: No      |
| Nutrien Ltd.                                               | NUTRIEN LTD COMMON STOCK                           | CUSIP: 67077M108<br>LEI: 5493002QQ7GD21OWF963 | Long             | EC               |  | US        |     119953 | NS      | $6531440.85   | 0.95%             |  |  |  | No            |                  1 | On Loan: No      |
| VODAFONE GROUP PUBLIC LIMITED COMPANY                      | VODAFONE GROUP PLC COMMON STOCK                    | CUSIP: N/A<br>LEI: 213800TB53ELEUKM7Q61       | Long             | EC               |  | GB        |    4878643 | NS      | $5905951.73   | 0.86%             |  |  |  | No            |                  1 | On Loan: No      |
| Joint stock company National atomic company Kazatomprom    | NAC KAZATOMPROM JSC-144A DEPOSITARY RECEIPT        | CUSIP: 63253R102<br>LEI: 5493008JG5TXJP2JSY44 | Long             | EC               |  | GB        |     267479 | NS      | $15663458.43  | 2.29%             |  |  |  | Yes           |                  1 | On Loan: No      |
| West Japan Railway Company                                 | WEST JAPAN RAILWAY CO COMMON STOCK                 | CUSIP: N/A<br>LEI: 353800QGUXHZ7EBCR121       | Long             | EC               |  | JP        |     253500 | NS      | $5209967.13   | 0.76%             |  |  |  | No            |                  1 | On Loan: No      |
| MOSKOVSKAYA BIRZHA MMVB-RTS PAO                            | MOSCOW EXCHANGE MICEX-RTS PJ COMMON STOCK          | CUSIP: N/A<br>LEI: 253400M5M1222KPNWE87       | Long             | EC               |  | RU        |    5746159 | NS      | $3432761.08   | 0.50%             |  |  |  | No            |                  3 | On Loan: No      |
| K+S Aktiengesellschaft                                     | K+S AG-REG COMMON STOCK                            | CUSIP: N/A<br>LEI: 529900YURAYD4IJX2J91       | Long             | EC               |  | DE        |    1570685 | NS      | $20461875.84  | 2.99%             |  |  |  | No            |                  1 | On Loan: No      |
| GAZPROM PAO                                                | GAZPROM PJSC COMMON STOCK                          | CUSIP: N/A<br>LEI: 213800FD9J2IHTA7YX78       | Long             | EC               |  | RU        |    8122810 | NS      | $3499041.15   | 0.51%             |  |  |  | No            |                  3 | On Loan: No      |
| FEDERAL'NAYA GIDROGENERIRUYUSHCHAYA KOMPANIYA RUSGIDRO PAO | RUSHYDRO PJSC COMMON STOCK                         | CUSIP: N/A<br>LEI: 2534005TJN9DX4YWVT97       | Long             | EC               |  | RU        |  991278397 | NS      | $1399812.69   | 0.20%             |  |  |  | No            |                  1 | On Loan: No      |
| China Communications Services Corporation Limited          | CHINA COMMUNICATIONS SERVI-H COMMON STOCK          | CUSIP: N/A<br>LEI: 529900JCDRVQE6YZKT86       | Long             | EC               |  | HK        |   10457000 | NS      | $6267023.26   | 0.92%             |  |  |  | No            |                  1 | On Loan: No      |
| AIR LEASE CORPORATION                                      | AIR LEASE CORP COMMON STOCK                        | CUSIP: 00912X302<br>LEI: 5493004NW4M4P8TMMK63 | Long             | EC               |  | US        |      25878 | NS      | $1652569.08   | 0.24%             |  |  |  | No            |                  1 | On Loan: No      |
| MAN GROUP PLC                                              | MAN GROUP PLC/JERSEY COMMON STOCK                  | CUSIP: N/A<br>LEI: 2549003YWC1DW6LALB09       | Long             | EC               |  | GB        |     663343 | NS      | $1832690.15   | 0.27%             |  |  |  | No            |                  1 | On Loan: No      |
| DL E&C CO., LTD.                                           | DL E&C CO LTD COMMON STOCK                         | CUSIP: N/A<br>LEI: 988400UU0MCCBS1YP242       | Long             | EC               |  | KR        |     197312 | NS      | $5902444.41   | 0.86%             |  |  |  | No            |                  1 | On Loan: No      |

### Signature

**Date Signed:** 2025-10-31

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

**Signature:** Andrew Metzger

**Name of Signer:** Andrew Metzger

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