# EDGAR Filing Document

**Accession Number:** 0000890540
**File Stem:** 0002048251-26-001541
**Filing Date:** 2026-2
**Character Count:** 21919
**Document Hash:** 0702cd35f5345173fa486ccbe295261e
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0002048251-26-001541.hdr.sgml**: 20260227

**ACCESSION NUMBER**: 0002048251-26-001541

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20251231

**FILED AS OF DATE**: 20260227

**DATE AS OF CHANGE**: 20260227

**PERIOD START**: 20260930

**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:** 26696199

**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

### Cullen Enhanced Equity Income ETF (Series ID: S000084215)

| Class ID   | Class Name                        | Ticker Symbol   |
|:---|:---|:---|
| C000248488 | Cullen Enhanced Equity Income ETF | DIVP            |

## Nport-Ex

---

| | |
|:---|:---|
| **THE ADVISORS' INNER CIRCLE FUND II** | **CULLEN** |
|  | **ENHANCED EQUITY INCOME ETF** |
|  | **DECEMBER 31, 2025** |
|  | **(UNAUDITED)** |

---

---

| | | |
|:---|:---|:---|
| **SCHEDULE OF INVESTMENTS** | | |
| **COMMON STOCK — 99.2%** | | |
|  |<br>**Shares** |<br>**Value** |
| **Communication Services — 8.4%** |  |  |
| &nbsp;&nbsp;&nbsp;BCE | 46388 | $1104962 |
| &nbsp;&nbsp;&nbsp;Comcast, Cl A | 35703 | 1067163 |
| &nbsp;&nbsp;&nbsp;Verizon Communications | 28882 | 1176364 |
|  |  | 3348489 |
| **Consumer Discretionary — 1.9%** |  |  |
| &nbsp;&nbsp;&nbsp;Genuine Parts | 6111 | 751408 |
| **Consumer Staples — 8.5%** |  |  |
| &nbsp;&nbsp;&nbsp;Altria Group | 18011 | 1038514 |
| &nbsp;&nbsp;&nbsp;Keurig Dr Pepper | 40835 | 1143788 |
| &nbsp;&nbsp;&nbsp;Sysco | 16302 | 1201295 |
|  |  | 3383597 |
| **Energy — 9.5%** |  |  |
| &nbsp;&nbsp;&nbsp;ConocoPhillips | 15126 | 1415945 |
| &nbsp;&nbsp;&nbsp;EOG Resources | 11959 | 1255815 |
| &nbsp;&nbsp;&nbsp;Exxon Mobil | 9237 | 1111580 |
|  |  | 3783340 |
| **Financials — 17.7%** |  |  |
| &nbsp;&nbsp;&nbsp;American International Group | 12575 | 1075791 |
| &nbsp;&nbsp;&nbsp;Bank of America (a) | 21544 | 1184920 |
| &nbsp;&nbsp;&nbsp;Citigroup | 11473 | 1338785 |
| &nbsp;&nbsp;&nbsp;First Horizon (a) | 46046 | 1100500 |
| &nbsp;&nbsp;&nbsp;PNC Financial Services Group | 5710 | 1191848 |
| &nbsp;&nbsp;&nbsp;Truist Financial (a) | 23897 | 1175971 |
|  |  | 7067815 |
| **Health Care — 17.8%** |  |  |
| &nbsp;&nbsp;&nbsp;Becton Dickinson | 6407 | 1243406 |
| &nbsp;&nbsp;&nbsp;Bristol-Myers Squibb | 25835 | 1393540 |
| &nbsp;&nbsp;&nbsp;Medtronic PLC | 17273 | 1659244 |
| &nbsp;&nbsp;&nbsp;Merck and Company Inc (a) | 16069 | 1691423 |
| &nbsp;&nbsp;&nbsp;UnitedHealth Group | 3388 | 1118413 |
|  |  | 7106026 |
| **Industrials — 10.1%** |  |  |
| &nbsp;&nbsp;&nbsp;General Dynamics | 2325 | 782735 |
| &nbsp;&nbsp;&nbsp;PACCAR (a) | 13116 | 1436333 |
| &nbsp;&nbsp;&nbsp;Union Pacific | 3415 | 789958 |
| &nbsp;&nbsp;&nbsp;United Parcel Service, Cl B | 10455 | 1037031 |
|  |  | 4046057 |
| **Information Technology — 9.2%** |  |  |
| &nbsp;&nbsp;&nbsp;Cisco Systems | 20416 | 1572644 |
| &nbsp;&nbsp;&nbsp;International Business Machines | 4413 | 1307175 |
| &nbsp;&nbsp;&nbsp;QUALCOMM | 4676 | 799830 |
|  |  | 3679649 |
| **Materials — 4.1%** |  |  |
| &nbsp;&nbsp;&nbsp;PPG Industries | 9506 | 973985 |
| &nbsp;&nbsp;&nbsp;Smurfit WestRock | 17188 | 664660 |
|  |  | 1638645 |
| **Real Estate — 5.9%** |  |  |
| &nbsp;&nbsp;&nbsp;Healthpeak Properties ‡ | 63622 | 1023042 |
| &nbsp;&nbsp;&nbsp;VICI Properties, Cl A ‡ | 47368 | 1331988 |
|  |  | 2355030 |
| **Utilities — 6.1%** |  |  |
| &nbsp;&nbsp;&nbsp;Duke Energy | 10369 | 1215351 |
| &nbsp;&nbsp;&nbsp;PPL | 35161 | 1231338 |
|  |  | 2446689 |
| **Total Common Stock** |  |  |
| &nbsp;&nbsp;&nbsp;(Cost $38,626,449) |  | 39606745 |
| **Total Investments - 99.2%** |  |  |
| &nbsp;&nbsp;&nbsp;(Cost $38,626,449) |  | $39606745 |

---

---

| | |
|:---|:---|
| **THE ADVISORS' INNER CIRCLE FUND II** | **CULLEN** |
|  | **ENHANCED EQUITY INCOME ETF** |
|  | **DECEMBER 31, 2025** |
|  | **(UNAUDITED)** |

---

---

| | |
|:---|:---|
| **WRITTEN OPTIONS — (0.1)%** | **WRITTEN OPTIONS — (0.1)%** |
|  | **Value** |
| &nbsp;&nbsp;Total Written Options |  |
| &nbsp;&nbsp;&nbsp;&nbsp;(Premiums Received $60,360) | $(55295) |

---

A list of open exchange traded options contracts for the Fund at December 31, 2025, is as follows:

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| Description | Number of <br>Contracts | Notional <br>Amount | Exercise <br>Price | Expiration <br>Date | Value |
| WRITTEN OPTIONS — (0.1)% |  |  |  |  |  |
| Call Options |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Bank of America Corp | (108) | $(594000) | $58 | 01/16/26 | $(3348) |
| &nbsp;&nbsp;&nbsp;First Horizon Corp | (460) | (1099400) | 25 | 01/16/26 | (11500) |
| &nbsp;&nbsp;&nbsp;Merck and Company Inc | (81) | (852606) | 110 | 01/16/26 | (3240) |
| &nbsp;&nbsp;&nbsp;PACCAR | (4) | (43804) | 113.6 | 01/16/26 | (300) |
| &nbsp;&nbsp;&nbsp;PACCAR | (127) | (1390777) | 115 | 01/16/26 | (22352) |
| &nbsp;&nbsp;&nbsp;PPG Industries | (95) | (973370) | 105 | 01/16/26 | (8075) |
| &nbsp;&nbsp;&nbsp;Truist Financial Corp | (120) | (590520) | 50 | 01/16/26 | (6480) |
| &nbsp;&nbsp;&nbsp;Total Written Options |  | $(5544477) |  |  | $(55295) |

---

Percentages are based on Net Assets of $39,934,167.

&nbsp;&nbsp;&nbsp;&nbsp;(a) All
or a portion of these securities has been pledged and/or segregated as collateral for written options contracts. The Fair Value
of the securities pledged as collateral is $4,571,107.

&nbsp;&nbsp;&nbsp;&nbsp;‡ Real
Estate Investment Trust.

Cl — Class

PLC — Public Limited Company

CUL-QH-001-0400

*2*

## 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:** Cullen Enhanced Equity Income ETF

- **b. EDGAR series identifier (if any):** S000084215

- **c. LEI of Series:** 5299008KQDA92PM3A019

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

- **a. Date of fiscal year-end:** 2026-09-30

- **b. Date as of which information is reported:** 2025-12-31

**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:** $40216548.62

**Total Liabilities:** $282381.22

**Net Assets:** $39934167.40

**Cash Not Reported:** $477505.34

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000248488 | 1.17%                | 3.27%                | -2.33%               |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $226461.41               | $36551.10                                  |
| Month 2  | $-132568.65              | $1192202.54                                |
| Month 3  | $-344511.55              | $-616538.97                                |

**Designated Index Information**

- **Index Name:** Cullen Enhanced Equity Income ETF - carve out

- **Index Identifier:** 4875_CARVE OUT

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| Altria Group, Inc.                          | ALTRIA GROUP INC COMMON STOCK             | CUSIP: 02209S103<br>LEI: XSGZFLO9YTNO9VCQV219 | Long             | EC               |  | US        |     18011 | NS      | $1038514.26   | 2.60%             |  |  |  | No            |                  1 | On Loan: No      |
| AMERICAN INTERNATIONAL GROUP, INC.          | AMERICAN INTERNATIONAL GROUP COMMON STOCK | CUSIP: N/A<br>LEI: ODVCVCQG2BP6VHV36M30       | Long             | EC               |  | US        |     12575 | NS      | $1075791.25   | 2.69%             |  |  |  | No            |                  1 | On Loan: No      |
| BANK OF AMERICA CORPORATION                 | BAC US 01/16/26 C58 SHORT                 | CUSIP: N/A<br>LEI: 9DJT3UXIJIZJI4WXO774       | N/A              | DE               |  | US        |      -108 | NC      | $-3348.00     | -0.01%            |  |  |  | No            |                  1 | On Loan: No      |
| BANK OF AMERICA CORPORATION                 | BANK OF AMERICA CORP COMMON STOCK         | CUSIP: N/A<br>LEI: 9DJT3UXIJIZJI4WXO774       | Long             | EC               |  | US        |     21544 | NS      | $1184920.00   | 2.97%             |  |  |  | No            |                  1 | On Loan: No      |
| BCE INC.                                    | BCE INC COMMON STOCK                      | CUSIP: 05534B760<br>LEI: 5493001I9203PRB5KR45 | Long             | EC               |  | US        |     46388 | NS      | $1104962.16   | 2.77%             |  |  |  | No            |                  1 | On Loan: No      |
| BECTON, DICKINSON AND COMPANY               | BECTON DICKINSON AND CO COMMON STOCK      | CUSIP: N/A<br>LEI: ICE2EP6D98PQUILVRZ91       | Long             | EC               |  | US        |      6407 | NS      | $1243406.49   | 3.11%             |  |  |  | No            |                  1 | On Loan: No      |
| BRISTOL-MYERS SQUIBB COMPANY                | BRISTOL-MYERS SQUIBB CO COMMON STOCK      | CUSIP: 110122108<br>LEI: HLYYNH7UQUORYSJQCN42 | Long             | EC               |  | US        |     25835 | NS      | $1393539.90   | 3.49%             |  |  |  | No            |                  1 | On Loan: No      |
| CISCO SYSTEMS, INC.                         | CISCO SYSTEMS INC COMMON STOCK            | CUSIP: 17275R102<br>LEI: 549300LKFJ962MZ46593 | Long             | EC               |  | US        |     20416 | NS      | $1572644.48   | 3.94%             |  |  |  | No            |                  1 | On Loan: No      |
| CITIGROUP INC.                              | CITIGROUP INC COMMON STOCK                | CUSIP: 172967424<br>LEI: 6SHGI4ZSSLCXXQSBB395 | Long             | EC               |  | US        |     11473 | NS      | $1338784.37   | 3.35%             |  |  |  | No            |                  1 | On Loan: No      |
| COMCAST CORPORATION                         | COMCAST CORP-CLASS A COMMON STOCK         | CUSIP: 20030N101<br>LEI: 51M0QTTNCGUN7KFCFZ59 | Long             | EC               |  | US        |     35703 | NS      | $1067162.67   | 2.67%             |  |  |  | No            |                  1 | On Loan: No      |
| CONOCOPHILLIPS                              | CONOCOPHILLIPS COMMON STOCK               | CUSIP: 20825C104<br>LEI: WPTL2Z3FIYTHSP5V2253 | Long             | EC               |  | US        |     15126 | NS      | $1415944.86   | 3.55%             |  |  |  | No            |                  1 | On Loan: No      |
| DUKE ENERGY CORPORATION                     | DUKE ENERGY CORP COMMON STOCK             | CUSIP: 26441C204<br>LEI: I1BZKREC126H0VB1BL91 | Long             | EC               |  | US        |     10369 | NS      | $1215350.49   | 3.04%             |  |  |  | No            |                  1 | On Loan: No      |
| EOG RESOURCES, INC.                         | EOG RESOURCES INC COMMON STOCK            | CUSIP: 26875P101<br>LEI: XWTZDRYZPBUHIQBKDB46 | Long             | EC               |  | US        |     11959 | NS      | $1255814.59   | 3.14%             |  |  |  | No            |                  1 | On Loan: No      |
| EXXON MOBIL CORPORATION                     | EXXON MOBIL CORP COMMON STOCK             | CUSIP: 30231G102<br>LEI: J3WHBG0MTS7O8ZVMDC91 | Long             | EC               |  | US        |      9237 | NS      | $1111580.58   | 2.78%             |  |  |  | No            |                  1 | On Loan: No      |
| FIRST HORIZON CORPORATION                   | FHN US 01/16/26 C25 SHORT                 | CUSIP: 2UU992Q33<br>LEI: TF3RXI1ZB1TQ30H9JV10 | N/A              | DE               |  | US        |      -460 | NC      | $-11500.00    | -0.03%            |  |  |  | No            |                  1 | On Loan: No      |
| FIRST HORIZON CORPORATION                   | FIRST HORIZON CORP COMMON STOCK           | CUSIP: 320517105<br>LEI: TF3RXI1ZB1TQ30H9JV10 | Long             | EC               |  | US        |     46046 | NS      | $1100499.40   | 2.76%             |  |  |  | No            |                  1 | On Loan: No      |
| GENERAL DYNAMICS CORPORATION                | GENERAL DYNAMICS CORP COMMON STOCK        | CUSIP: 369550108<br>LEI: 9C1X8XOOTYY2FNYTVH06 | Long             | EC               |  | US        |      2325 | NS      | $782734.50    | 1.96%             |  |  |  | No            |                  1 | On Loan: No      |
| GENUINE PARTS COMPANY                       | GENUINE PARTS CO COMMON STOCK             | CUSIP: 372460105<br>LEI: 549300D46DQVEU651W04 | Long             | EC               |  | US        |      6111 | NS      | $751408.56    | 1.88%             |  |  |  | No            |                  1 | On Loan: No      |
| HEALTHPEAK PROPERTIES, INC.                 | HEALTHPEAK PROPERTIES INC REIT            | CUSIP: 42250P103<br>LEI: 254900M6MTMZM0I22L81 | Long             | EC               |  | US        |     63622 | NS      | $1023041.76   | 2.56%             |  |  |  | No            |                  1 | On Loan: No      |
| INTERNATIONAL BUSINESS MACHINES CORPORATION | INTL BUSINESS MACHINES CORP COMMON STOCK  | CUSIP: 459200101<br>LEI: VGRQXHF3J8VDLUA7XE92 | Long             | EC               |  | US        |      4413 | NS      | $1307174.73   | 3.27%             |  |  |  | No            |                  1 | On Loan: No      |
| KEURIG DR PEPPER INC.                       | KEURIG DR PEPPER INC COMMON STOCK         | CUSIP: 49271V100<br>LEI: DYTQ8KRTKO7Y2BVU5K74 | Long             | EC               |  | US        |     40835 | NS      | $1143788.35   | 2.86%             |  |  |  | No            |                  1 | On Loan: No      |
| MEDTRONIC PUBLIC LIMITED COMPANY            | MEDTRONIC PLC COMMON STOCK                | CUSIP: G5960L103<br>LEI: 549300GX3ZBSQWUXY261 | Long             | EC               |  | US        |     17273 | NS      | $1659244.38   | 4.15%             |  |  |  | No            |                  1 | On Loan: No      |
| MERCK & CO., INC.                           | MERCK & CO. INC. COMMON STOCK             | CUSIP: 58933Y105<br>LEI: 4YV9Y5M8S0BRK1RP0397 | Long             | EC               |  | US        |     16069 | NS      | $1691422.94   | 4.24%             |  |  |  | No            |                  1 | On Loan: No      |
| MERCK & CO., INC.                           | MRK US 01/16/26 C110 SHORT                | CUSIP: N/A<br>LEI: 4YV9Y5M8S0BRK1RP0397       | N/A              | DE               |  | US        |       -81 | NC      | $-3240.00     | -0.01%            |  |  |  | No            |                  1 | On Loan: No      |
| PACCAR INC                                  | PACCAR INC COMMON STOCK                   | CUSIP: 693718108<br>LEI: KDTEY8BWE486IKZ3CC07 | Long             | EC               |  | US        |     13116 | NS      | $1436333.16   | 3.60%             |  |  |  | No            |                  1 | On Loan: No      |
| PACCAR INC                                  | PCAR US 01/16/26 C113.6 SHORT             | CUSIP: 29399KQQ9<br>LEI: KDTEY8BWE486IKZ3CC07 | N/A              | DE               |  | US        |        -4 | NC      | $-300.00      | -0.00%            |  |  |  | No            |                  1 | On Loan: No      |
| PCAR US 01/16/26 C115                       | PCAR US 01/16/26 C115 SHORT               | CUSIP: 29399KE33<br>LEI: N/A                  | N/A              | DE               |  | US        |      -127 | NC      | $-22352.00    | -0.06%            |  |  |  | No            |                  1 | On Loan: No      |
| THE PNC FINANCIAL SERVICES GROUP, INC.      | PNC FINANCIAL SERVICES GROUP COMMON STOCK | CUSIP: 693475105<br>LEI: CFGNEKW0P8842LEUIA51 | Long             | EC               |  | US        |      5710 | NS      | $1191848.30   | 2.98%             |  |  |  | No            |                  1 | On Loan: No      |
| PPG INDUSTRIES, INC.                        | PPG INDUSTRIES INC COMMON STOCK           | CUSIP: 693506107<br>LEI: 549300BKPEP01R3V6C59 | Long             | EC               |  | US        |      9506 | NS      | $973984.76    | 2.44%             |  |  |  | No            |                  1 | On Loan: No      |
| PPG INDUSTRIES, INC.                        | PPG US 01/16/26 C105 SHORT                | CUSIP: 31699J9A9<br>LEI: 549300BKPEP01R3V6C59 | N/A              | DE               |  | US        |       -95 | NC      | $-8075.00     | -0.02%            |  |  |  | No            |                  1 | On Loan: No      |
| PPL CORPORATION                             | PPL CORP COMMON STOCK                     | CUSIP: 69351T106<br>LEI: 9N3UAJSNOUXFKQLF3V18 | Long             | EC               |  | US        |     35161 | NS      | $1231338.22   | 3.08%             |  |  |  | No            |                  1 | On Loan: No      |
| QUALCOMM INCORPORATED                       | QUALCOMM INC COMMON STOCK                 | CUSIP: 747525103<br>LEI: H1J8DDZKZP6H7RWC0H53 | Long             | EC               |  | US        |      4676 | NS      | $799829.80    | 2.00%             |  |  |  | No            |                  1 | On Loan: No      |
| SMURFIT WESTROCK PUBLIC LIMITED COMPANY     | SMURFIT WESTROCK PLC COMMON STOCK         | CUSIP: G8267P108<br>LEI: 635400EGSEOPDW2EXS14 | Long             | EC               |  | US        |     17188 | NS      | $664659.96    | 1.66%             |  |  |  | No            |                  1 | On Loan: No      |
| SYSCO CORPORATION                           | SYSCO CORP COMMON STOCK                   | CUSIP: 871829107<br>LEI: 5RGWIFLMGH3YS7KWI652 | Long             | EC               |  | US        |     16302 | NS      | $1201294.38   | 3.01%             |  |  |  | No            |                  1 | On Loan: No      |
| Truist Financial Corporation                | TFC US 01/16/26 C50 SHORT                 | CUSIP: N/A<br>LEI: 549300DRQQI75D2JP341       | N/A              | DE               |  | US        |      -120 | NC      | $-6480.00     | -0.02%            |  |  |  | No            |                  1 | On Loan: No      |
| Truist Financial Corporation                | TRUIST FINANCIAL CORP COMMON STOCK        | CUSIP: 89832Q109<br>LEI: 549300DRQQI75D2JP341 | Long             | EC               |  | US        |     23897 | NS      | $1175971.37   | 2.94%             |  |  |  | No            |                  1 | On Loan: No      |
| UNION PACIFIC CORPORATION                   | UNION PACIFIC CORP COMMON STOCK           | CUSIP: 907818108<br>LEI: 549300LMMRSZZCZ8CL11 | Long             | EC               |  | US        |      3415 | NS      | $789957.80    | 1.98%             |  |  |  | No            |                  1 | On Loan: No      |
| UNITED PARCEL SERVICE, INC.                 | UNITED PARCEL SERVICE-CL B COMMON STOCK   | CUSIP: 911312106<br>LEI: D01LMJZU09ULLNCY6Z23 | Long             | EC               |  | US        |     10455 | NS      | $1037031.45   | 2.60%             |  |  |  | No            |                  1 | On Loan: No      |
| UNITEDHEALTH GROUP INCORPORATED             | UNITEDHEALTH GROUP INC COMMON STOCK       | CUSIP: 91324P102<br>LEI: 549300GHBMY8T5GXDE41 | Long             | EC               |  | US        |      3388 | NS      | $1118412.68   | 2.80%             |  |  |  | No            |                  1 | On Loan: No      |
| VERIZON COMMUNICATIONS INC.                 | VERIZON COMMUNICATIONS INC COMMON STOCK   | CUSIP: 92343V104<br>LEI: 2S72QS2UO2OESLG6Y829 | Long             | EC               |  | US        |     28882 | NS      | $1176363.86   | 2.95%             |  |  |  | No            |                  1 | On Loan: No      |
| VICI PROPERTIES INC.                        | VICI PROPERTIES INC REIT                  | CUSIP: 925652109<br>LEI: 254900RKH6RY9KCJQH63 | Long             | EC               |  | US        |     47368 | NS      | $1331988.16   | 3.34%             |  |  |  | No            |                  1 | On Loan: No      |

### Signature

**Date Signed:** 2025-12-31

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

**Signature:** Andrew Metzger

**Name of Signer:** Andrew Metzger

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