Form NPORT-P ADVISORS' INNER CIRCLE For: Jul 31

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September 28, 2021 3:56 PM EDT

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      ADVISORS' INNER CIRCLE FUND
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      OAKS
      
      19456
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      Westwood Alternative Income Fund
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      2021-10-31
      2021-07-31
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        AVADEL FINANCE CAYMAN LIMITED
        N/A
        AVADEL FINANCE CAYMAN LTD 144A 4.500000% 02/01/2023
        05337YAA6
        
          
        
        1000000.00000000
        PA
        USD
        1065024.00000000
        0.690001681952
        Long
        DBT
        CORP
        US
        
        Y
        
        2
        
          2023-02-01
          Fixed
          4.50000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        TWITTER, INC.
        549300I8RX485XMK6836
        TWITTER INC 1.000000% 09/15/2021
        90184LAD4
        
          
        
        3000000.00000000
        PA
        USD
        3001875.00000000
        1.944837674092
        Long
        DBT
        CORP
        US
        
        N
        
        2
        
          2021-09-15
          Fixed
          1.00000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        ETSY, INC.
        54930089Q7XT501AEA40
        ETSY INC 144A 0.250000% 06/15/2028
        29786AAM8
        
          
        
        2500000.00000000
        PA
        USD
        2611250.00000000
        1.691761774382
        Long
        DBT
        CORP
        US
        
        Y
        
        2
        
          2028-06-15
          Fixed
          0.25000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        DIGITALBRIDGE GROUP, INC.
        549300XG87L902AGBO89
        DIGITALBRIDGE GROUP INC 5.000000% 04/15/2023
        19624RAA4
        
          
        
        2000000.00000000
        PA
        USD
        2040820.00000000
        1.322194835574
        Long
        DBT
        CORP
        US
        
        N
        
        2
        
          2023-04-15
          Fixed
          5.00000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        BRK: BNP PARIBAS
        N/A
        BRK: BNP PARIBAS REF: BNP PARIBAS -AVYA US- 05351X101
        05351X101
        
          
        
        1174680.00000000
        NC
        USD
        41184.00000000
        0.026682055305
        N/A
        DE
        
        US
        
        N
        
        2
        
          
            
              BRK: BNP PARIBAS
              N/A
            
            Y
            
              
                
              
            
            
            2022-12-04
            0.00000000
            USD
            0.00000000
            USD
            -46800.00000000
            USD
            41184.00000000
          
        
        
          N
          N
          N
        
      
      
        Republica del Peru
        254900STKLK2DBJJZ530
        REPUBLIC OF PERU 2.783000% 01/23/2031
        715638DF6
        
          
        
        235000.00000000
        PA
        USD
        235914.15000000
        0.152842715559
        Long
        DBT
        NUSS
        PE
        
        N
        
        2
        
          2031-01-23
          Fixed
          2.78300000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        GSK FINANCE (NO.3) PLC
        N/A
        GSK FINANCE NO 3 PLC 144A ZERO COUPON 06/22/2023
        36259RAA0
        
          
        
        735000.00000000
        PA
        USD
        739593.75000000
        0.479163785475
        Long
        DBT
        CORP
        GB
        
        Y
        
        2
        
          2023-06-22
          Fixed
          0.00000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        BLACKSTONE MORTGAGE TRUST, INC.
        549300OLDJ20R2Y2UW20
        BLACKSTONE MORTGAGE TRUST INC 4.375000% 05/05/2022
        09257WAB6
        
          
        
        2000000.00000000
        PA
        USD
        2038800.00000000
        1.320886129482
        Long
        DBT
        CORP
        US
        
        N
        
        2
        
          2022-05-05
          Fixed
          4.37500000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        BRK: DEUTSCHE BANK SECURITIES, INC.
        N/A
        BRK: DEUTSCHE BANK SECURITIES, INC. REF: DEUTSCHE BANK - WKUS - 98139A105
        98139A105
        
          
        
        1191305.50000000
        NC
        USD
        -125860.00000000
        -0.08154145980
        N/A
        DE
        
        US
        
        N
        
        2
        
          
            
              BRK: DEUTSCHE BANK SECURITIES, INC.
              N/A
            
            Y
            
              
                
              
            
            
            2022-01-15
            0.00000000
            USD
            0.00000000
            USD
            -10150.00000000
            USD
            -125860.00000000
          
        
        
          N
          N
          N
        
      
      
        BRK: DEUTSCHE BANK SECURITIES, INC.
        N/A
        BRK: DEUTSCHE BANK SECURITIES, INC. REF: DEUTSCHE BANK - CONMED CORP- 207410101
        207410101
        
          
        
        2425626.00000000
        NC
        USD
        -181440.00000000
        -0.11755031358
        N/A
        DE
        
        US
        
        N
        
        2
        
          
            
              BRK: DEUTSCHE BANK SECURITIES, INC.
              N/A
            
            Y
            
              
                
              
            
            
            2022-04-13
            0.00000000
            USD
            0.00000000
            USD
            -18900.00000000
            USD
            -181440.00000000
          
        
        
          N
          N
          N
        
      
      
        BRK: DEUTSCHE BANK SECURITIES, INC
        N/A
        BRK: DEUTSCHE BANK SECURITIES, INC REF: DEUTSCHE BANK-CSGS 4.25% 3/15/36 - 126349AF6
        126349AF6
        
          
        
        720000.00000000
        NC
        USD
        -10324.73000000
        -0.00668912725
        N/A
        DE
        
        US
        
        N
        
        2
        
          
            
              BRK: DEUTSCHE BANK SECURITIES, INC
              N/A
            
            Y
            
            
              
                
              
            
            2036-03-15
            0.00000000
            USD
            0.00000000
            USD
            -750124.73000000
            USD
            -10324.73000000
          
        
        
          N
          N
          N
        
      
      
        BRK: BNP PARIBAS
        N/A
        BRK: BNP PARIBAS REF: BNP PARIBAS -DKNG US- 26142R104
        26142R104
        
          
        
        1192478.00000000
        NC
        USD
        -97622.00000000
        -0.06324678523
        N/A
        DE
        
        US
        
        N
        
        2
        
          
            
              BRK: BNP PARIBAS
              N/A
            
            Y
            
              
                
              
            
            
            2023-04-08
            0.00000000
            USD
            0.00000000
            USD
            -26600.00000000
            USD
            -97622.00000000
          
        
        
          N
          N
          N
        
      
      
        ZILLOW GROUP, INC.
        2549002XEELQDIR6FU05
        ZILLOW GROUP INC 2.750000% 05/15/2025
        98954MAH4
        
          
        
        515000.00000000
        PA
        USD
        918245.00000000
        0.594907339595
        Long
        DBT
        CORP
        US
        
        N
        
        2
        
          2025-05-15
          Fixed
          2.75000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        BRK: DEUTSCHE BANK - PRIME BROKER
        N/A
        BRK: DEUTSCHE BANK - PRIME BROKER REF: DEUTSCHE BANK - HTHT US 44332N106
        44332N106
        
          
        
        1828960.00000000
        NC
        USD
        232170.00000000
        0.150416976987
        N/A
        DE
        
        US
        
        N
        
        2
        
          
            
              BRK: DEUTSCHE BANK - PRIME BROKER
              N/A
            
            Y
            
              
                
              
            
            
            2022-06-05
            0.00000000
            USD
            0.00000000
            USD
            -35500.00000000
            USD
            232170.00000000
          
        
        
          N
          N
          N
        
      
      
        BRK: BNP PARIBAS
        N/A
        BRK: BNP PARIBAS REF: BNP PARIBAS -CRY US- 228903100
        228903100
        
          
        
        2645478.00000000
        NC
        USD
        -116622.00000000
        -0.07555639699
        N/A
        DE
        
        US
        
        N
        
        2
        
          
            
              BRK: BNP PARIBAS
              N/A
            
            Y
            
              
                
              
            
            
            2023-05-14
            0.00000000
            USD
            0.00000000
            USD
            -102300.00000000
            USD
            -116622.00000000
          
        
        
          N
          N
          N
        
      
      
        BRK: BNP PARIBAS
        N/A
        BRK: BNP PARIBAS REF: BNP PARIBAS -EYE US- 63845R107
        63845R107
        
          
        
        3445560.00000000
        NC
        USD
        -225080.00000000
        -0.14582354817
        N/A
        DE
        
        US
        
        N
        
        2
        
          
            
              BRK: BNP PARIBAS
              N/A
            
            Y
            
              
                
              
            
            
            2023-01-22
            0.00000000
            USD
            0.00000000
            USD
            -68000.00000000
            USD
            -225080.00000000
          
        
        
          N
          N
          N
        
      
      
        BRK: BNP PARIBAS
        N/A
        BRK: BNP PARIBAS REF: BNP PARIBAS - DXCM-252131AK3
        252131AJ6
        
          
        
        2000000.00000000
        NC
        USD
        156663.20000000
        0.101498061546
        N/A
        DE
        
        US
        
        N
        
        2
        
          
            
              BRK: BNP PARIBAS
              N/A
            
            Y
            
            
              
                
              
            
            2025-11-15
            0.00000000
            USD
            0.00000000
            USD
            -2110836.80000000
            USD
            156663.20000000
          
        
        
          N
          N
          N
        
      
      
        BRK: DEUTSCHE BANK SECURITIES, INC.
        N/A
        BRK: DEUTSCHE BANK SECURITIES, INC. REF: DEUTSCHE BANK - AKAMAI TECH INC - 00971T101
        00971T101
        
          
        
        1770040.00000000
        NC
        USD
        -52744.00000000
        -0.03417148225
        N/A
        DE
        
        US
        
        N
        
        2
        
          
            
              BRK: DEUTSCHE BANK SECURITIES, INC.
              N/A
            
            Y
            
              
                
              
            
            
            2024-01-15
            0.00000000
            USD
            0.00000000
            USD
            -15200.00000000
            USD
            -52744.00000000
          
        
        
          N
          N
          N
        
      
      
        DRAFTKINGS INC.
        5493008P45UYYL683Z97
        DRAFTKINGS INC 144A ZERO COUPON 03/15/2028
        26142RAA2
        
          
        
        4000000.00000000
        PA
        USD
        3506000.00000000
        2.271447307222
        Long
        DBT
        CORP
        US
        
        Y
        
        2
        
          2028-03-15
          Fixed
          0.00000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        BRK: DEUTSCHE BANK SECURITIES, INC.
        N/A
        BRK: DEUTSCHE BANK SECURITIES, INC. REF: DEUTSCHE BANK -CPA US- P31076105
        P31076105
        
          
        
        3486796.00000000
        NC
        USD
        -79977.00000000
        -0.05181504315
        N/A
        DE
        
        US
        
        N
        
        2
        
          
            
              BRK: DEUTSCHE BANK SECURITIES, INC.
              N/A
            
            Y
            
              
                
              
            
            
            2022-04-30
            0.00000000
            USD
            0.00000000
            USD
            -50300.00000000
            USD
            -79977.00000000
          
        
        
          N
          N
          N
        
      
      
        THE GOLDMAN SACHS GROUP, INC.
        784F5XWPLTWKTBV3E584
        GOLDMAN SACHS GROUP INC/THE 0.627000% 11/17/2023
        38141GXL3
        
          
        
        1000000.00000000
        PA
        USD
        1000303.47000000
        0.648070913672
        Long
        DBT
        CORP
        US
        
        N
        
        2
        
          2023-11-17
          Fixed
          0.62700000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        BRK: BNP PARIBAS
        N/A
        BRK: BNP PARIBAS REF: BNP PARIBAS - 163086AC5
        163086AC5
        
          
        
        2500000.00000000
        NC
        USD
        13219.75000000
        0.008564736320
        N/A
        DE
        
        US
        
        N
        
        2
        
          
            
              BRK: BNP PARIBAS
              N/A
            
            Y
            
            
              
                
              
            
            2024-12-01
            0.00000000
            USD
            0.00000000
            USD
            -2496280.25000000
            USD
            13219.75000000
          
        
        
          N
          N
          N
        
      
      
        EXACT SCIENCES CORPORATION
        549300VM3X1FYD4N9Z14
        EXACT SCIENCES CORP 0.375000% 03/01/2028
        30063PAC9
        
          
        
        1200000.00000000
        PA
        USD
        1369500.00000000
        0.887263858311
        Long
        DBT
        CORP
        US
        
        N
        
        2
        
          2028-03-01
          Fixed
          0.37500000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        PENNYMAC CORP.
        EWN0I878407TKQNXZ933
        PENNYMAC CORP 5.500000% 11/01/2024
        70932AAD5
        
          
        
        3500000.00000000
        PA
        USD
        3524062.50000000
        2.283149536824
        Long
        DBT
        CORP
        US
        
        N
        
        2
        
          2024-11-01
          Fixed
          5.50000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        BRK:  DEUTSCHE BANK SECURITIES
        N/A
        BRK:  DEUTSCHE BANK SECURITIES REF: DEUTSCHE BANK - SALESFORCE INC 79466L302
        79466L302
        
          
        
        1346691.51000000
        NC
        USD
        -26503.17000000
        -0.01717072279
        N/A
        DE
        
        US
        
        N
        
        2
        
          
            
              BRK:  DEUTSCHE BANK SECURITIES
              N/A
            
            Y
            
              
                
              
            
            
            2022-08-15
            0.00000000
            USD
            0.00000000
            USD
            -5676.00000000
            USD
            -26503.17000000
          
        
        
          N
          N
          N
        
      
      
        FIREEYE, INC.
        549300E9D2UJUFLLY524
        FIREEYE INC 1.625000% 06/01/2035
        31816QAD3
        
          
        
        2000000.00000000
        PA
        USD
        1982412.00000000
        1.284353793270
        Long
        DBT
        CORP
        US
        
        N
        
        2
        
          2035-06-01
          Fixed
          1.62500000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        BRK: DEUTSCHE BANK SECURITIES, INC.
        N/A
        BRK: DEUTSCHE BANK SECURITIES, INC. REF: DEUTSCHE BANK - JAZZ INVESTMENTS 472145AD3
        472145AD3
        
          
        
        2000000.00000000
        NC
        USD
        -58115.40000000
        -0.03765147428
        N/A
        DE
        
        US
        
        N
        
        2
        
          
            
              BRK: DEUTSCHE BANK SECURITIES, INC.
              N/A
            
            Y
            
            
              
                
              
            
            2024-08-15
            0.00000000
            USD
            0.00000000
            USD
            -2215757.40000000
            USD
            -58115.40000000
          
        
        
          N
          N
          N
        
      
      
        BRK: DEUTSCHE BANK SECURITIES, INC.
        N/A
        BRK: DEUTSCHE BANK SECURITIES, INC. REF: DEUTSCHE BANK - WDAY0.25 10/01/22 - 98138HAF8
        98138HAF8
        
          
        
        1000000.00000000
        NC
        USD
        26830.00000000
        0.017382467556
        N/A
        DE
        
        US
        
        N
        
        2
        
          
            
              BRK: DEUTSCHE BANK SECURITIES, INC.
              N/A
            
            Y
            
            
              
                
              
            
            2022-10-01
            0.00000000
            USD
            0.00000000
            USD
            -1591270.00000000
            USD
            26830.00000000
          
        
        
          N
          N
          N
        
      
      
        BRK: BNP PARIBAS
        N/A
        BRK: BNP PARIBAS REF: BNP PARIBAS - 63845RAB3
        63845RAA5
        
          
        
        2500000.00000000
        NC
        USD
        213856.50000000
        0.138552130934
        N/A
        DE
        
        US
        
        N
        
        2
        
          
            
              BRK: BNP PARIBAS
              N/A
            
            Y
            
            
              
                
              
            
            2025-05-15
            0.00000000
            USD
            0.00000000
            USD
            -4375206.00000000
            USD
            213856.50000000
          
        
        
          N
          N
          N
        
      
      
        BRK: DEUTSCHE BANK SECURITIES, INC.
        N/A
        BRK: DEUTSCHE BANK SECURITIES, INC. REF: DEUTSCHE BANK - CSG SYS INT INC - 126349109
        126349109
        
          
        
        146528.00000000
        NC
        USD
        1376.00000000
        0.000891475041
        N/A
        DE
        
        US
        
        N
        
        2
        
          
            
              BRK: DEUTSCHE BANK SECURITIES, INC.
              N/A
            
            Y
            
              
                
              
            
            
            2024-01-15
            0.00000000
            USD
            0.00000000
            USD
            -3200.00000000
            USD
            1376.00000000
          
        
        
          N
          N
          N
        
      
      
        BRK: DEUTSCHE BANK SECURITIES, INC.
        N/A
        BRK: DEUTSCHE BANK SECURITIES, INC. REF: DEUTSCHE BANK-LUMENTUM HOLDINGS INC-55024U109
        55024U109
        
          
        
        349719.00000000
        NC
        USD
        -11438.00000000
        -0.00741038628
        N/A
        DE
        
        US
        
        N
        
        2
        
          
            
              BRK: DEUTSCHE BANK SECURITIES, INC.
              N/A
            
            Y
            
              
                
              
            
            
            2025-01-15
            0.00000000
            USD
            0.00000000
            USD
            -4300.00000000
            USD
            -11438.00000000
          
        
        
          N
          N
          N
        
      
      
        BRK: BNP PARIBAS, INC
        N/A
        BRK: BNP PARIBAS, INC REF: BNP PARIBAS - SPWR -867652406
        867652406
        
          
        
        916500.00000000
        NC
        USD
        -49530.00000000
        -0.03208921424
        N/A
        DE
        
        US
        
        N
        
        2
        
          
            
              BRK: BNP PARIBAS, INC
              N/A
            
            Y
            
              
                
              
            
            
            2022-10-09
            0.00000000
            USD
            0.00000000
            USD
            -39000.00000000
            USD
            -49530.00000000
          
        
        
          N
          N
          N
        
      
      
        BRK: BNP PARIBAS
        N/A
        BRK: BNP PARIBAS REF: BNP PARIBAS -F US- 345370860
        345370860
        
          
        
        1094881.50000000
        NC
        USD
        4689.00000000
        0.003037882607
        N/A
        DE
        
        US
        
        N
        
        2
        
          
            
              BRK: BNP PARIBAS
              N/A
            
            Y
            
              
                
              
            
            
            2023-03-19
            0.00000000
            USD
            0.00000000
            USD
            -78150.00000000
            USD
            4689.00000000
          
        
        
          N
          N
          N
        
      
      
        OSI SYSTEMS, INC.
        DDX3MPX1Y8YD30050X33
        OSI SYSTEMS INC 1.250000% 09/01/2022
        671044AD7
        
          
        
        2470000.00000000
        PA
        USD
        2599675.00000000
        1.684262629322
        Long
        DBT
        CORP
        US
        
        N
        
        2
        
          2022-09-01
          Fixed
          1.25000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        BRK: BNP PARIBAS
        N/A
        BRK: BNP PARIBAS REF: BNP PARIBAS -AVDL US- 05337M104
        05337M104
        
          
        
        189786.00000000
        NC
        USD
        -29328.00000000
        -0.01900085756
        N/A
        DE
        
        US
        
        N
        
        2
        
          
            
              BRK: BNP PARIBAS
              N/A
            
            Y
            
              
                
              
            
            
            2023-01-28
            0.00000000
            USD
            0.00000000
            USD
            -28200.00000000
            USD
            -29328.00000000
          
        
        
          N
          N
          N
        
      
      
        APELLIS PHARMACEUTICALS, INC.
        254900HS0ZFRXXSB9D42
        APELLIS PHARMACEUTICALS INC 3.500000% 09/15/2026
        03753UAB2
        
          
        
        1000000.00000000
        PA
        USD
        1878750.00000000
        1.217193847245
        Long
        DBT
        CORP
        US
        
        N
        
        2
        
          2026-09-15
          Fixed
          3.50000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        LIGAND PHARMACEUTICALS INCORPORATED
        5493008K7TB0IKP37H79
        LIGAND PHARMACEUTICALS INC 0.750000% 05/15/2023
        53220KAF5
        
          
        
        2000000.00000000
        PA
        USD
        1951236.00000000
        1.264155663991
        Long
        DBT
        CORP
        US
        
        N
        
        2
        
          2023-05-15
          Fixed
          0.75000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        WEIBO CORPORATION
        549300Q9ID4640FE0422
        WEIBO CORP 1.250000% 11/15/2022
        948596AC5
        
          
        
        1800000.00000000
        PA
        USD
        1710000.00000000
        1.107865058571
        Long
        DBT
        CORP
        CN
        
        N
        
        2
        
          2022-11-15
          Fixed
          1.25000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        BRK: DEUTSCHE BANK SECURITIES, INC.
        N/A
        BRK: DEUTSCHE BANK SECURITIES, INC. REF: DEUTSCHE BANK - AAWWUS - 049164205
        049164205
        
          
        
        771732.00000000
        NC
        USD
        -11817.00000000
        -0.00765593064
        N/A
        DE
        
        US
        
        N
        
        2
        
          
            
              BRK: DEUTSCHE BANK SECURITIES, INC.
              N/A
            
            Y
            
              
                
              
            
            
            2022-08-29
            0.00000000
            USD
            0.00000000
            USD
            -11700.00000000
            USD
            -11817.00000000
          
        
        
          N
          N
          N
        
      
      
        BRIDGEBIO PHARMA, INC.
        54930028YG89VTY2J114
        BRIDGEBIO PHARMA INC 2.500000% 03/15/2027
        10806XAB8
        
          
        
        1000000.00000000
        PA
        USD
        1496900.00000000
        0.969803044546
        Long
        DBT
        CORP
        US
        
        N
        
        2
        
          2027-03-15
          Fixed
          2.50000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        ATLAS AIR WORLDWIDE HOLDINGS, INC.
        549300R0A2TUVCYZB465
        ATLAS AIR WORLDWIDE HOLDINGS INC 2.250000% 06/01/2022
        049164BH8
        
          
        
        1500000.00000000
        PA
        USD
        1593750.00000000
        1.032549670817
        Long
        DBT
        CORP
        US
        
        N
        
        2
        
          2022-06-01
          Fixed
          2.25000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        NCL CORPORATION LTD.
        UNZWILHE4KMRP9K2L524
        NCL CORP LTD 6.000000% 05/15/2024
        62886HAT8
        
          
        
        2000000.00000000
        PA
        USD
        3909000.00000000
        2.532540651435
        Long
        DBT
        CORP
        US
        
        N
        
        2
        
          2024-05-15
          Fixed
          6.00000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        ARES CAPITAL CORPORATION
        WEQ82666OJYSI5GUAB47
        ARES CAPITAL CORP 3.750000% 02/01/2022
        04010LAT0
        
          
        
        3000000.00000000
        PA
        USD
        3155625.00000000
        2.044448348218
        Long
        DBT
        CORP
        US
        
        N
        
        2
        
          2022-02-01
          Fixed
          3.75000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        BRK: DEUTSCHE BANK SECURITIES, INC.
        N/A
        BRK: DEUTSCHE BANK SECURITIES, INC. REF: DEUTSCHE BANK -LITE 0 1/2 12/15/26-55024UAD1
        55024UAC3
        
          
        
        700000.00000000
        NC
        USD
        11459.56000000
        0.007424354450
        N/A
        DE
        
        US
        
        N
        
        2
        
          
            
              BRK: DEUTSCHE BANK SECURITIES, INC.
              N/A
            
            Y
            
            
              
                
              
            
            2026-12-15
            0.00000000
            USD
            0.00000000
            USD
            -756790.44000000
            USD
            11459.56000000
          
        
        
          N
          N
          N
        
      
      
        BRK: GOLDMAN
        N/A
        BRK: GOLDMAN REF: GOLDMAN  - ROYAL CARIBBEAN CRUISES LTD
        G66721104
        
          
        
        3166275.00000000
        NC
        USD
        54390.00000000
        0.035237883354
        N/A
        DE
        
        US
        
        N
        
        2
        
          
            
              BRK: GOLDMAN
              N/A
            
            Y
            
              
                
              
            
            
            2025-04-29
            0.00000000
            USD
            0.00000000
            USD
            -129500.00000000
            USD
            54390.00000000
          
        
        
          N
          N
          N
        
      
      
        BRK: DEUTSCHE BANK SECURITIES, INC.
        N/A
        BRK: DEUTSCHE BANK SECURITIES, INC. REF: DEUTSCHE BANK IART 0 1/2 08/15/25-457669AA7
        457985AL3
        
          
        
        2000000.00000000
        NC
        USD
        100696.20000000
        0.065238480415
        N/A
        DE
        
        US
        
        N
        
        2
        
          
            
              BRK: DEUTSCHE BANK SECURITIES, INC.
              N/A
            
            Y
            
            
              
                
              
            
            2022-02-20
            0.00000000
            USD
            0.00000000
            USD
            -2171903.80000000
            USD
            100696.20000000
          
        
        
          N
          N
          N
        
      
      
        BRK:DEUTSCHE BANK PRIME BROKER.
        N/A
        BRK:DEUTSCHE BANK PRIME BROKER. REF:DEUTSCHE BANK US -TBPH US-G8807B106
        G8807B106
        
          
        
        68100.00000000
        NC
        USD
        3200.00000000
        0.002073197770
        N/A
        DE
        
        US
        
        N
        
        2
        
          
            
              BRK:DEUTSCHE BANK PRIME BROKER.
              N/A
            
            Y
            
              
                
              
            
            
            2022-06-22
            0.00000000
            USD
            0.00000000
            USD
            -5000.00000000
            USD
            3200.00000000
          
        
        
          N
          N
          N
        
      
      
        United States of America
        N/A
        US 10YR NOTE (CBT)SEP21 FINANCIAL COMMODITY FUTURE.
        N/A
        
          
        
        -2.00000000
        NC
        USD
        -268906.25000000
        -0.17421744936
        N/A
        DIR
        
        US
        
        N
        
        1
        
          
            
              US 10YR NOTE (CBT)SEP21
              N/A
            
            Short
            
              
                U.S. Treasury Futures
                US 10 Year Treasury Note Future (consolidated) Sep 2021
                
                  
                  
                  
                
              
            
            2021-09-24
            -263437.60000000
            USD
            -5468.65000000
          
        
        
          N
          N
          N
        
      
      
        United States of America
        254900HROIFWPRGM1V77
        US TREASURY N/B 0.125000% 10/31/2022
        91282CAR2
        
          
        
        3000000.00000000
        PA
        USD
        3000703.14000000
        1.944078456111
        Long
        SN
        UST
        US
        
        N
        
        1
        
          2022-10-31
          Fixed
          0.12500000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        CRYOLIFE, INC.
        549300YTKV8DMSMG6K81
        CRYOLIFE INC 4.250000% 07/01/2025
        228903AB6
        
          
        
        3000000.00000000
        PA
        USD
        4155000.00000000
        2.691917730036
        Long
        DBT
        CORP
        US
        
        N
        
        2
        
          2025-07-01
          Fixed
          4.25000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        SUNPOWER CORPORATION
        549300TXO070764WUH65
        SUNPOWER CORP 4.000000% 01/15/2023
        867652AL3
        
          
        
        1500000.00000000
        PA
        USD
        1948200.00000000
        1.262188717607
        Long
        DBT
        CORP
        US
        
        N
        
        2
        
          2023-01-15
          Fixed
          4.00000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        BRK: BNP PARIBAS
        N/A
        BRK: BNP PARIBAS REF: BNP PARIBAS -MSTR US- 594972408
        594972408
        
          
        
        378728.00000000
        NC
        USD
        -59479.00000000
        -0.03853491568
        N/A
        DE
        
        US
        
        N
        
        2
        
          
            
              BRK: BNP PARIBAS
              N/A
            
            Y
            
              
                
              
            
            
            2022-12-11
            0.00000000
            USD
            0.00000000
            USD
            -700.00000000
            USD
            -59479.00000000
          
        
        
          N
          N
          N
        
      
      
        INNOVIVA, INC.
        549300ACOX4QTBES6535
        INNOVIVA INC 2.125000% 01/15/2023
        88338TAB0
        
          
        
        2000000.00000000
        PA
        USD
        2056250.00000000
        1.332191536074
        Long
        DBT
        CORP
        US
        
        N
        
        2
        
          2023-01-15
          Fixed
          2.12500000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        TILRAY, INC.
        549300Y4V60733TO1478
        TILRAY INC 5.000000% 10/01/2023
        88688TAB6
        
          
        
        4650000.00000000
        PA
        USD
        4533750.00000000
        2.937300122395
        Long
        DBT
        CORP
        CA
        
        N
        
        2
        
          2023-10-01
          Fixed
          5.00000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        BRK: BNP PARIBAS
        N/A
        BRK: BNP PARIBAS REF: BNP PARIBAS -PRO US- 74346Y103
        74346Y103
        
          
        
        346415.00000000
        NC
        USD
        3397.00000000
        0.002200829008
        N/A
        DE
        
        US
        
        N
        
        2
        
          
            
              BRK: BNP PARIBAS
              N/A
            
            Y
            
              
                
              
            
            
            2022-11-13
            0.00000000
            USD
            0.00000000
            USD
            -7900.00000000
            USD
            3397.00000000
          
        
        
          N
          N
          N
        
      
      
        BRK: BNP PARIBAS
        N/A
        BRK: BNP PARIBAS REF: BNP PARIBAS -IQ US- 46267X108
        46267X108
        
          
        
        855456.00000000
        NC
        USD
        105504.00000000
        0.068353330490
        N/A
        DE
        
        US
        
        N
        
        2
        
          
            
              BRK: BNP PARIBAS
              N/A
            
            Y
            
              
                
              
            
            
            2023-01-28
            0.00000000
            USD
            0.00000000
            USD
            -67200.00000000
            USD
            105504.00000000
          
        
        
          N
          N
          N
        
      
      
        BLOOM ENERGY CORPORATION
        549300XB5J9BFW5JXV97
        BLOOM ENERGY CORP 144A 2.500000% 08/15/2025
        093712AG2
        
          
        
        2000000.00000000
        PA
        USD
        3045000.00000000
        1.972777253420
        Long
        DBT
        CORP
        US
        
        Y
        
        2
        
          2025-08-15
          Fixed
          2.50000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        SEI Daily Income Trust: Government Fund; Class F Shares
        N/A
        SEI DAILY INCOME TRUST GOVERNMENT FUND (#36)
        783965593
        
          
        
        7573980.81000000
        NS
        USD
        7573980.81000000
        4.906987540167
        Long
        STIV
        RF
        US
        
        N
        
        2
        
          N
          N
          N
        
      
      
        United States of America
        N/A
        US LONG BOND(CBT) SEP21 FINANCIAL COMMODITY FUTURE.
        N/A
        
          
        
        -4.00000000
        NC
        USD
        -658875.00000000
        -0.42686818155
        N/A
        DIR
        
        US
        
        N
        
        1
        
          
            
              US LONG BOND(CBT) SEP21
              N/A
            
            Short
            
              
                U.S. Treasury Futures
                US Long Bond (CBT) Sep 2021
                
                  
                  
                  
                
              
            
            2021-09-24
            -624375.20000000
            USD
            -34499.80000000
          
        
        
          N
          N
          N
        
      
      
        BRK: DEUTSCHE BANK SECURITIES
        N/A
        BRK: DEUTSCHE BANK SECURITIES REF: DEUTSCHE BANK - BRIDGEBIO -10806X102
        10806X102
        
          
        
        4036603.50000000
        NC
        USD
        400667.25000000
        0.259582015432
        N/A
        DE
        
        US
        
        N
        
        2
        
          
            
              BRK: DEUTSCHE BANK SECURITIES
              N/A
            
            Y
            
              
                
              
            
            
            2022-03-05
            0.00000000
            USD
            0.00000000
            USD
            -68025.00000000
            USD
            400667.25000000
          
        
        
          N
          N
          N
        
      
      
        SLACK TECHNOLOGIES, INC.
        549300VIZRB02KN4IJ45
        SLACK TECHNOLOGIES LLC 0.500000% 04/15/2025
        83088VAB8
        
          
        
        2500000.00000000
        PA
        USD
        3868750.00000000
        2.506463710729
        Long
        DBT
        CORP
        US
        
        N
        
        2
        
          2025-04-15
          Fixed
          0.50000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        J2 GLOBAL, INC.
        5493008OJYGLHD7MXA18
        J2 GLOBAL INC 144A 1.750000% 11/01/2026
        48123VAD4
        
          
        
        2500000.00000000
        PA
        USD
        3225000.00000000
        2.089394628006
        Long
        DBT
        CORP
        US
        
        Y
        
        2
        
          2026-11-01
          Fixed
          1.75000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        United States of America
        N/A
        US 5YR NOTE (CBT) SEP21 FINANCIAL COMMODITY FUTURE.
        N/A
        
          
        
        -2.00000000
        NC
        USD
        -248890.63000000
        -0.16124984349
        N/A
        DIR
        
        US
        
        N
        
        1
        
          
            
              US 5YR NOTE (CBT) SEP21
              N/A
            
            Short
            
              
                U.S. Treasury Futures
                US 5-Year Note (consolidated) Sep 2021
                
                  
                  
                  
                
              
            
            2021-10-03
            -247375.00000000
            USD
            -1515.63000000
          
        
        
          N
          N
          N
        
      
      
        BRK: DEUTSCHE BANK SECURITIES, INC.
        N/A
        BRK: DEUTSCHE BANK SECURITIES, INC. REF: DEUTSCHE BANK - JOYY INC - 46591M109
        98426T106
        
          
        
        643544.00000000
        NC
        USD
        93009.00000000
        0.060258141071
        N/A
        DE
        
        US
        
        N
        
        2
        
          
            
              BRK: DEUTSCHE BANK SECURITIES, INC.
              N/A
            
            Y
            
              
                
              
            
            
            2022-01-15
            0.00000000
            USD
            0.00000000
            USD
            -10300.00000000
            USD
            93009.00000000
          
        
        
          N
          N
          N
        
      
      
        PHILLIPS 66
        5493005JBO5YSIGK1814
        PHILLIPS 66 0.900000% 02/15/2024
        718546AY0
        
          
        
        500000.00000000
        PA
        USD
        500442.06000000
        0.324223550943
        Long
        DBT
        CORP
        US
        
        N
        
        2
        
          2024-02-15
          Fixed
          0.90000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        BRK: DEUTSCHE BANK SECURITIES, INC.
        N/A
        BRK: DEUTSCHE BANK SECURITIES, INC. REF: DEUTSCHE BANK -Z US - 98954M200
        98954M200
        
          
        
        739333.50000000
        NC
        USD
        -9799.50000000
        -0.00634884423
        N/A
        DE
        
        US
        
        N
        
        2
        
          
            
              BRK: DEUTSCHE BANK SECURITIES, INC.
              N/A
            
            Y
            
              
                
              
            
            
            2022-05-15
            0.00000000
            USD
            0.00000000
            USD
            -7050.00000000
            USD
            -9799.50000000
          
        
        
          N
          N
          N
        
      
      
        WORKIVA INC.
        529900RTOQ8GRWHY1O58
        WORKIVA INC 1.125000% 08/15/2026
        98139AAB1
        
          
        
        1000000.00000000
        PA
        USD
        1727472.00000000
        1.119184718397
        Long
        DBT
        CORP
        US
        
        N
        
        2
        
          2026-08-15
          Fixed
          1.12500000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        BRK: BNP PARIBAS
        N/A
        BRK: BNP PARIBAS REF: BNP PARIBAS -MGNI US- 55955D100
        55955D100
        
          
        
        759294.00000000
        NC
        USD
        -22446.00000000
        -0.01454218661
        N/A
        DE
        
        US
        
        N
        
        2
        
          
            
              BRK: BNP PARIBAS
              N/A
            
            Y
            
              
                
              
            
            
            2023-03-18
            0.00000000
            USD
            0.00000000
            USD
            -25800.00000000
            USD
            -22446.00000000
          
        
        
          N
          N
          N
        
      
      
        BRK: DEUTSCHE BANK SECURITIES, INC.
        N/A
        BRK: DEUTSCHE BANK SECURITIES, INC. REF: DEUTSCHE BANK - OKTAS - 679295105
        679295105
        
          
        
        1496754.00000000
        NC
        USD
        -64323.00000000
        -0.04167321880
        N/A
        DE
        
        US
        
        N
        
        2
        
          
            
              BRK: DEUTSCHE BANK SECURITIES, INC.
              N/A
            
            Y
            
              
                
              
            
            
            2022-01-15
            0.00000000
            USD
            0.00000000
            USD
            -6300.00000000
            USD
            -64323.00000000
          
        
        
          N
          N
          N
        
      
      
        BRK: BNP PARIBAS
        N/A
        BRK: BNP PARIBAS REF: BNP PARIBAS - 08862EAA7
        08862EAA7
        
          
        
        3100000.00000000
        NC
        USD
        -69805.80000000
        -0.04522538403
        N/A
        DE
        
        US
        
        N
        
        2
        
          
            
              BRK: BNP PARIBAS
              N/A
            
            Y
            
            
              
                
              
            
            2027-03-15
            0.00000000
            USD
            0.00000000
            USD
            -2908243.30000000
            USD
            -69805.80000000
          
        
        
          N
          N
          N
        
      
      
        BRK: DEUTSCHE BANK - PRIME BROKER
        N/A
        BRK: DEUTSCHE BANK - PRIME BROKER REF: DEUTSCHE BANK -GOSS US- 38341P102
        38341P102
        
          
        
        485601.48000000
        NC
        USD
        -35823.06000000
        -0.02320884003
        N/A
        DE
        
        US
        
        N
        
        2
        
          
            
              BRK: DEUTSCHE BANK - PRIME BROKER
              N/A
            
            Y
            
              
                
              
            
            
            2022-05-21
            0.00000000
            USD
            0.00000000
            USD
            -66339.00000000
            USD
            -35823.06000000
          
        
        
          N
          N
          N
        
      
      
        HERCULES CAPITAL, INC.
        549300UJ5OC256GR2B73
        HERCULES CAPITAL INC 4.375000% 02/01/2022
        427096AF9
        
          
        
        1000000.00000000
        PA
        USD
        1065000.00000000
        0.689986132969
        Long
        DBT
        CORP
        US
        
        N
        
        2
        
          2022-02-01
          Fixed
          4.37500000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        BRK: DEUTSCHE BANK SECURITIES, INC.
        N/A
        BRK: DEUTSCHE BANK SECURITIES, INC. REF: DEUTSCHE BANK - JAZZ INVESTMENTS G50871105
        G50871105
        
          
        
        713800.00000000
        NC
        USD
        35720.00000000
        0.023142070112
        N/A
        DE
        
        US
        
        N
        
        2
        
          
            
              BRK: DEUTSCHE BANK SECURITIES, INC.
              N/A
            
            Y
            
              
                
              
            
            
            2022-01-15
            0.00000000
            USD
            0.00000000
            USD
            -4000.00000000
            USD
            35720.00000000
          
        
        
          N
          N
          N
        
      
      
        BRK: BNP PARIBAS
        N/A
        BRK: BNP PARIBAS REF: BNP PARIBAS -OSIS US 671044105
        671044105
        
          
        
        888797.00000000
        NC
        USD
        -21658.00000000
        -0.01403166165
        N/A
        DE
        
        US
        
        N
        
        2
        
          
            
              BRK: BNP PARIBAS
              N/A
            
            Y
            
              
                
              
            
            
            2022-08-31
            0.00000000
            USD
            0.00000000
            USD
            -9100.00000000
            USD
            -21658.00000000
          
        
        
          N
          N
          N
        
      
      
        TWITTER, INC.
        549300I8RX485XMK6836
        TWITTER INC COMMON STOCK
        90184L102
        
          
        
        -7500.00000000
        NS
        USD
        -523125.00000000
        -0.33891924489
        Short
        EC
        
        US
        
        N
        
        1
        
          N
          N
          N
        
      
      
        BRK: DEUTSCHE BANK SECURITIES
        N/A
        BRK: DEUTSCHE BANK SECURITIES REF: DEUTSCHE BANK - J2 GLOBAL - 48123V102
        48123V102
        
          
        
        2226696.80000000
        NC
        USD
        -33623.20000000
        -0.02178360727
        N/A
        DE
        
        US
        
        N
        
        2
        
          
            
              BRK: DEUTSCHE BANK SECURITIES
              N/A
            
            Y
            
              
                
              
            
            
            2022-02-25
            0.00000000
            USD
            0.00000000
            USD
            -16000.00000000
            USD
            -33623.20000000
          
        
        
          N
          N
          N
        
      
      
        PROGRESS SOFTWARE CORPORATION
        N/A
        PROGRESS SOFTWARE CORP 144A 1.000000% 04/15/2026
        743312AA8
        
          
        
        4000000.00000000
        PA
        USD
        4011208.00000000
        2.598758588222
        Long
        DBT
        CORP
        US
        
        Y
        
        2
        
          2026-04-15
          Fixed
          1.00000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        GOSSAMER BIO, INC.
        549300ZOC0N2W6PSFR58
        GOSSAMER BIO INC 5.000000% 06/01/2027
        38341PAA0
        
          
        
        1500000.00000000
        PA
        USD
        1188300.00000000
        0.769869034561
        Long
        DBT
        CORP
        US
        
        N
        
        2
        
          2027-06-01
          Fixed
          5.00000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        BRK: DEUTSCHE BANK SECURITIES, INC.
        N/A
        BRK: DEUTSCHE BANK SECURITIES, INC. REF: DEUTSCHE BANK -APLS US - 03753U106
        03753U106
        
          
        
        1299572.50000000
        NC
        USD
        -28220.00000000
        -0.01828301283
        N/A
        DE
        
        US
        
        N
        
        2
        
          
            
              BRK: DEUTSCHE BANK SECURITIES, INC.
              N/A
            
            Y
            
              
                
              
            
            
            2022-05-15
            0.00000000
            USD
            0.00000000
            USD
            -20750.00000000
            USD
            -28220.00000000
          
        
        
          N
          N
          N
        
      
      
        FORD MOTOR COMPANY
        20S05OYHG0MQM4VUIC57
        FORD MOTOR CO 144A ZERO COUPON 03/15/2026
        345370CY4
        
          
        
        2500000.00000000
        PA
        USD
        2675000.00000000
        1.733063761214
        Long
        DBT
        CORP
        US
        
        Y
        
        2
        
          2026-03-15
          Fixed
          0.00000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        PDC ENERGY, INC.
        5493008W8H2T511J5Y59
        PDC ENERGY INC 1.125000% 09/15/2021
        69327RAD3
        
          
        
        3000000.00000000
        PA
        USD
        2973999.00000000
        1.926777530014
        Long
        DBT
        CORP
        US
        
        N
        
        2
        
          2021-09-15
          Fixed
          1.12500000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        AVOLON HOLDINGS FUNDING LIMITED
        635400ZRKEX9L1BKCH30
        AVOLON HOLDINGS FUNDING LTD 144A 4.250000% 04/15/2026
        05401AAL5
        
          
        
        250000.00000000
        PA
        USD
        273303.99000000
        0.177066632098
        Long
        DBT
        NUSS
        IE
        
        Y
        
        2
        
          2026-04-15
          Fixed
          4.25000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        BRK: BNP
        N/A
        BRK: BNP REF: BNP BLOOM ENERGY 093712107
        093712107
        
          
        
        2224992.00000000
        NC
        USD
        -125048.00000000
        -0.08101538587
        N/A
        DE
        
        US
        
        N
        
        2
        
          
            
              BRK: BNP
              N/A
            
            Y
            
              
                
              
            
            
            2022-08-11
            0.00000000
            USD
            0.00000000
            USD
            -107800.00000000
            USD
            -125048.00000000
          
        
        
          N
          N
          N
        
      
      
        BRK: BNP PARIBAS
        N/A
        BRK: BNP PARIBAS REF: BNP PARIBAS -LUV US- 844741108
        844741108
        
          
        
        3080910.00000000
        NC
        USD
        74970.00000000
        0.048571136515
        N/A
        DE
        
        US
        
        N
        
        2
        
          
            
              BRK: BNP PARIBAS
              N/A
            
            Y
            
              
                
              
            
            
            2022-12-11
            0.00000000
            USD
            0.00000000
            USD
            -59500.00000000
            USD
            74970.00000000
          
        
        
          N
          N
          N
        
      
      
        BRK: BNP PARIBAS
        N/A
        BRK: BNP PARIBAS REF: BNP PARIBAS - 21720AAB8
        21720AAA0
        
          
        
        3000000.00000000
        NC
        USD
        10962.00000000
        0.007101998112
        N/A
        DE
        
        US
        
        N
        
        2
        
          
            
              BRK: BNP PARIBAS
              N/A
            
            Y
            
            
              
                
              
            
            2025-04-15
            0.00000000
            USD
            0.00000000
            USD
            -4666038.00000000
            USD
            10962.00000000
          
        
        
          N
          N
          N
        
      
      
        BRK: DEUTSCHE BANK SECURITIES, INC.
        N/A
        BRK: DEUTSCHE BANK SECURITIES, INC. REF: DEUTSCHE BANK - FIREEYE INC - 31816Q101
        31816Q101
        
          
        
        329238.10000000
        NC
        USD
        -6990.90000000
        -0.00452922446
        N/A
        DE
        
        US
        
        N
        
        2
        
          
            
              BRK: DEUTSCHE BANK SECURITIES, INC.
              N/A
            
            Y
            
              
                
              
            
            
            2024-01-15
            0.00000000
            USD
            0.00000000
            USD
            -16645.00000000
            USD
            -6990.90000000
          
        
        
          N
          N
          N
        
      
      
        VECTOR GROUP LTD.
        549300TUIF4WWN6NDN50
        VECTOR GROUP LTD 144A 5.750000% 02/01/2029
        92240MBL1
        
          
        
        1000000.00000000
        PA
        USD
        1015000.00000000
        0.657592417806
        Long
        DBT
        CORP
        US
        
        Y
        
        2
        
          2029-02-01
          Fixed
          5.75000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        BRK: BNP PARIBAS
        N/A
        BRK: BNP PARIBAS REF: BNP PARIBAS - 98978LAA3
        98978LAA3
        
          
        
        2500000.00000000
        NC
        USD
        -191677.50000000
        -0.12418292676
        N/A
        DE
        
        US
        
        N
        
        2
        
          
            
              BRK: BNP PARIBAS
              N/A
            
            Y
            
            
              
                
              
            
            2027-10-01
            0.00000000
            USD
            0.00000000
            USD
            -2651052.50000000
            USD
            -191677.50000000
          
        
        
          N
          N
          N
        
      
      
        BRK: BNP PARIBAS
        N/A
        BRK: BNP PARIBAS REF: BNP PARIBAS - 90184LAM4
        90184LAM4
        
          
        
        3000000.00000000
        NC
        USD
        21996.00000000
        0.014250643174
        N/A
        DE
        
        US
        
        N
        
        2
        
          
            
              BRK: BNP PARIBAS
              N/A
            
            Y
            
            
              
                
              
            
            2026-03-15
            0.00000000
            USD
            0.00000000
            USD
            -2859879.00000000
            USD
            21996.00000000
          
        
        
          N
          N
          N
        
      
      
        BRK: DEUTSCHE BANK SECURITIES, INC.
        N/A
        BRK: DEUTSCHE BANK SECURITIES, INC. REF:DEUTSCHE BANK-AKAM 0 1/8 5/1/25 - 00971TAJ0
        00971TAJ0
        
          
        
        2000000.00000000
        NC
        USD
        52398.40000000
        0.033947576891
        N/A
        DE
        
        US
        
        N
        
        2
        
          
            
              BRK: DEUTSCHE BANK SECURITIES, INC.
              N/A
            
            Y
            
            
              
                
              
            
            2025-05-01
            0.00000000
            USD
            0.00000000
            USD
            -2618601.60000000
            USD
            52398.40000000
          
        
        
          N
          N
          N
        
      
      
        BRK: BNP PARIBAS
        N/A
        BRK: BNP PARIBAS REF: BNP PARIBAS -ZGNX US- 98978L204
        98978L204
        
          
        
        1471524.00000000
        NC
        USD
        137441.00000000
        0.089044492114
        N/A
        DE
        
        US
        
        N
        
        2
        
          
            
              BRK: BNP PARIBAS
              N/A
            
            Y
            
              
                
              
            
            
            2023-04-23
            0.00000000
            USD
            0.00000000
            USD
            -82300.00000000
            USD
            137441.00000000
          
        
        
          N
          N
          N
        
      
      
        SPOTIFY USA INC.
        N/A
        SPOTIFY USA INC 144A ZERO COUPON 03/15/2026
        84921RAA8
        
          
        
        3000000.00000000
        PA
        USD
        2703000.00000000
        1.751204241706
        Long
        DBT
        CORP
        US
        
        Y
        
        2
        
          2026-03-15
          Fixed
          0.00000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        BRK:DEUTSCHE BANKSECURITIES,INC.
        N/A
        BRK:DEUTSCHE BANKSECURITIES,INC. REF:DEUTSCHE BANK-WORK-04/15/2025-83088VAB8
        83088VAA0
        
          
        
        740000.00000000
        NC
        USD
        22491.63000000
        0.014571749115
        N/A
        DE
        
        US
        
        N
        
        2
        
          
            
              BRK:DEUTSCHE BANKSECURITIES,INC.
              N/A
            
            Y
            
            
              
                
              
            
            2025-04-15
            0.00000000
            USD
            0.00000000
            USD
            -1122658.37000000
            USD
            22491.63000000
          
        
        
          N
          N
          N
        
      
      
        BRK: DEUTSCHE BANK SECURITIES, INC.
        N/A
        BRK: DEUTSCHE BANK SECURITIES, INC. REF: DEUTSCHE BANK - OKTAB - 679295AD7
        679295AC9
        
          
        
        1500000.00000000
        NC
        USD
        65863.20000000
        0.042671074810
        N/A
        DE
        
        US
        
        N
        
        2
        
          
            
              BRK: DEUTSCHE BANK SECURITIES, INC.
              N/A
            
            Y
            
            
              
                
              
            
            2025-09-01
            0.00000000
            USD
            0.00000000
            USD
            -2115886.80000000
            USD
            65863.20000000
          
        
        
          N
          N
          N
        
      
      
        BRK: BNP PARIBAS
        N/A
        BRK: BNP PARIBAS REF: BNP PARIBAS -GEO US- 36162J106
        36162J106
        
          
        
        1143690.00000000
        NC
        USD
        -37554.00000000
        -0.02433027158
        N/A
        DE
        
        US
        
        N
        
        2
        
          
            
              BRK: BNP PARIBAS
              N/A
            
            Y
            
              
                
              
            
            
            2023-03-01
            0.00000000
            USD
            0.00000000
            USD
            -170700.00000000
            USD
            -37554.00000000
          
        
        
          N
          N
          N
        
      
      
        N/A
        N/A
        NDX US 08/20/21 P12300 LONG
        N/A
        
          
        
        10.00000000
        NC
        USD
        6300.00000000
        0.004081608110
        N/A
        DE
        
        US
        
        N
        
        1
        
          
            
              NDX US 08/20/21 P12300
              N/A
            
            Put
            Purchased
            
              
                Put Option 12300 Aug 2021 on NASDAQ 100 STOCK INDEX
                N/A
                N/A
              
            
            1000.00000000
            300.00000000
            USD
            2021-08-23
            XXXX
            -190730.35000000
          
        
        
          N
          N
          N
        
      
      
        BRK: DEUTSCHE BANK SECURITIES, INC.
        N/A
        BRK: DEUTSCHE BANK SECURITIES, INC. REF: DEUTSCHE BANK -LYFT US 55087P104
        55087P104
        
          
        
        1751360.00000000
        NC
        USD
        -18880.00000000
        -0.01223186684
        N/A
        DE
        
        US
        
        N
        
        2
        
          
            
              BRK: DEUTSCHE BANK SECURITIES, INC.
              N/A
            
            Y
            
              
                
              
            
            
            2022-05-15
            0.00000000
            USD
            0.00000000
            USD
            -32000.00000000
            USD
            -18880.00000000
          
        
        
          N
          N
          N
        
      
      
        NGL ENERGY OPERATING LLC
        5493008CQD36WWZJ3O79
        NGL ENERGY OPERATING LLC / NGL ENERGY FINANCE CORP 7.500000% 02/01/2026
        62922LAA6
        
          
        
        925000.00000000
        PA
        USD
        950437.50000000
        0.615764033102
        Long
        DBT
        CORP
        US
        
        Y
        
        2
        
          2026-02-01
          Fixed
          7.50000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        REF: BNP PARIBAS -TWTR US- 90184L102
        N/A
        REF: BNP PARIBAS -TWTR US- 90184L102 PAY: TOTAL RETURN STOCK
        90184L102
        
          
        
        551367.00000000
        NC
        USD
        -13608.00000000
        -0.00881627351
        N/A
        DE
        
        US
        
        N
        
        2
        
          
            
              REF: BNP PARIBAS -TWTR US- 90184L102
              N/A
            
            Y
            
              
                
              
            
            
            2023-02-12
            0.00000000
            USD
            0.00000000
            USD
            -8100.00000000
            USD
            -13608.00000000
          
        
        
          N
          N
          N
        
      
      
        PROS HOLDINGS, INC.
        549300LPE1KNL5RWKQ48
        PROS HOLDINGS INC 1.000000% 05/15/2024
        74346YAH6
        
          
        
        1500000.00000000
        PA
        USD
        1515937.50000000
        0.982136951595
        Long
        DBT
        CORP
        US
        
        N
        
        2
        
          2024-05-15
          Fixed
          1.00000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        BRK: BNP PARIBAS
        N/A
        BRK: BNP PARIBAS REF: BNP PARIBAS -LYV US- 538034109
        538034109
        
          
        
        1350817.00000000
        NC
        USD
        17576.00000000
        0.011387038754
        N/A
        DE
        
        US
        
        N
        
        2
        
          
            
              BRK: BNP PARIBAS
              N/A
            
            Y
            
              
                
              
            
            
            2022-11-13
            0.00000000
            USD
            0.00000000
            USD
            -16900.00000000
            USD
            17576.00000000
          
        
        
          N
          N
          N
        
      
      
        Estados Unidos Mexicanos
        254900EGTWEU67VP6075
        UNITED MEXICAN STATES 3.771000% 05/24/2061
        91087BAN0
        
          
        
        235000.00000000
        PA
        USD
        218550.00000000
        0.141592928977
        Long
        DBT
        NUSS
        MX
        
        N
        
        2
        
          2061-05-24
          Fixed
          3.77100000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        BRK: BNP PARIBAS
        N/A
        BRK: BNP PARIBAS REF: BNP PARIBAS -RLGY US- 75605Y106
        75605Y106
        
          
        
        630360.00000000
        NC
        USD
        -7560.00000000
        -0.00489792973
        N/A
        DE
        
        US
        
        N
        
        2
        
          
            
              BRK: BNP PARIBAS
              N/A
            
            Y
            
              
                
              
            
            
            2023-06-04
            0.00000000
            USD
            0.00000000
            USD
            -36000.00000000
            USD
            -7560.00000000
          
        
        
          N
          N
          N
        
      
      
        ITRON, INC.
        24F6LSZD18II6ICG6S41
        ITRON INC 144A ZERO COUPON 03/15/2026
        465741AM8
        
          
        
        2000000.00000000
        PA
        USD
        2049794.00000000
        1.328008859572
        Long
        DBT
        CORP
        US
        
        Y
        
        2
        
          2026-03-15
          Fixed
          0.00000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        BRK: BNP PARIBAS
        N/A
        BRK: BNP PARIBAS REF: BNP PARIBAS -ARAY US- 004397105
        004397105
        
          
        
        1569742.00000000
        NC
        USD
        -3838.00000000
        -0.00248654157
        N/A
        DE
        
        US
        
        N
        
        2
        
          
            
              BRK: BNP PARIBAS
              N/A
            
            Y
            
              
                
              
            
            
            2023-05-21
            0.00000000
            USD
            0.00000000
            USD
            -383800.00000000
            USD
            -3838.00000000
          
        
        
          N
          N
          N
        
      
      
        BRK: BNP PARIBAS
        N/A
        BRK: BNP PARIBAS REF: BNP PARIBAS EXACT SCI CO 30063PAC9
        30063PAB1
        
          
        
        800000.00000000
        NC
        USD
        -17994.00000000
        -0.01165785021
        N/A
        DE
        
        US
        
        N
        
        2
        
          
            
              BRK: BNP PARIBAS
              N/A
            
            Y
            
            
              
                
              
            
            2028-03-01
            0.00000000
            USD
            0.00000000
            USD
            -930994.00000000
            USD
            -17994.00000000
          
        
        
          N
          N
          N
        
      
      
        BRK: BNP PARIBAS
        N/A
        BRK: BNP PARIBAS REF: BNP PARIBAS -MNKD US- 56400P706
        56400P706
        
          
        
        962022.00000000
        NC
        USD
        77652.00000000
        0.050308735396
        N/A
        DE
        
        US
        
        N
        
        2
        
          
            
              BRK: BNP PARIBAS
              N/A
            
            Y
            
              
                
              
            
            
            2023-03-17
            0.00000000
            USD
            0.00000000
            USD
            -215700.00000000
            USD
            77652.00000000
          
        
        
          N
          N
          N
        
      
      
        JOYY INC.
        549300N6CHVU5CQZPW24
        JOYY INC 1.375000% 06/15/2026
        98426TAF3
        
          
        
        1600000.00000000
        PA
        USD
        1428000.00000000
        0.925164505052
        Long
        DBT
        CORP
        CN
        
        N
        
        2
        
          2026-06-15
          Fixed
          1.37500000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        ACCURAY INCORPORATED
        549300G28LY4TZKZJG51
        ACCURAY INC 144A 3.750000% 06/01/2026
        004397AJ4
        
          
        
        3000000.00000000
        PA
        USD
        3082500.00000000
        1.997072539792
        Long
        DBT
        CORP
        US
        
        Y
        
        2
        
          2026-06-01
          Fixed
          3.75000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        GOLAR LNG LIMITED
        213800C2VSFZG3EZLO34
        GOLAR LNG LTD 2.750000% 02/15/2022
        38046YAB7
        
          
        
        2000000.00000000
        PA
        USD
        1980000.00000000
        1.282791120450
        Long
        DBT
        CORP
        CM
        
        N
        
        2
        
          2022-02-15
          Fixed
          2.75000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        BRK: BNP PARIBAS
        N/A
        BRK: BNP PARIBAS REF: BNP PARIBAS -BYND US -'08862E109
        08862E109
        
          
        
        1148901.00000000
        NC
        USD
        56871.00000000
        0.036845259500
        N/A
        DE
        
        US
        
        N
        
        2
        
          
            
              BRK: BNP PARIBAS
              N/A
            
            Y
            
              
                
              
            
            
            2023-03-05
            0.00000000
            USD
            0.00000000
            USD
            -8900.00000000
            USD
            56871.00000000
          
        
        
          N
          N
          N
        
      
      
        BRK: DEUTSCHE BANK SECURITIES, INC
        N/A
        BRK: DEUTSCHE BANK SECURITIES, INC REF: DEUTSCHE BANK - FEYE 0 7/8 2024 - 31816QAF8
        31816QAF8
        
          
        
        790000.00000000
        NC
        USD
        9445.48000000
        0.006119483773
        N/A
        DE
        
        US
        
        N
        
        2
        
          
            
              BRK: DEUTSCHE BANK SECURITIES, INC
              N/A
            
            Y
            
            
              
                
              
            
            2024-06-01
            0.00000000
            USD
            0.00000000
            USD
            -880785.77000000
            USD
            9445.48000000
          
        
        
          N
          N
          N
        
      
      
        STARWOOD PROPERTY TRUST, INC.
        BUGSFQZERKRBFWIG5267
        STARWOOD PROPERTY TRUST INC 5.000000% 12/15/2021
        85571BAG0
        
          
        
        445000.00000000
        PA
        USD
        446112.50000000
        0.289024825112
        Long
        DBT
        CORP
        US
        
        N
        
        2
        
          2021-12-15
          Fixed
          5.00000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        BRK: BNP PARIBAS
        N/A
        BRK: BNP PARIBAS REF: BNP PARIBAS -ITRI US- 465741106
        465741106
        
          
        
        826239.00000000
        NC
        USD
        -31755.00000000
        -0.02057324849
        N/A
        DE
        
        US
        
        N
        
        2
        
          
            
              BRK: BNP PARIBAS
              N/A
            
            Y
            
              
                
              
            
            
            2023-03-15
            0.00000000
            USD
            0.00000000
            USD
            -8700.00000000
            USD
            -31755.00000000
          
        
        
          N
          N
          N
        
      
      
        Republica del Peru
        254900STKLK2DBJJZ530
        REPUBLIC OF PERU 3.300000% 03/11/2041
        715638DS8
        
          
        
        240000.00000000
        PA
        USD
        234000.00000000
        0.151602586962
        Long
        DBT
        NUSS
        PE
        
        N
        
        2
        
          2041-03-11
          Fixed
          3.30000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        United States of America
        254900HROIFWPRGM1V77
        TREASURY BILL 0.000000% 11/04/2021
        9127964W6
        
          
        
        3000000.00000000
        PA
        USD
        2999608.32000000
        1.943369150366
        Long
        DBT
        UST
        US
        
        N
        
        2
        
          2021-11-04
          None
          0.00000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        MAGNITE, INC.
        54930018FR2YX1HHSB02
        MAGNITE INC 144A 0.250000% 03/15/2026
        55955DAA8
        
          
        
        3000000.00000000
        PA
        USD
        2580000.00000000
        1.671515702405
        Long
        DBT
        CORP
        US
        
        Y
        
        2
        
          2026-03-15
          Fixed
          0.25000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        BRK: DEUTSCHE BANK SECURITIES, INC.
        N/A
        BRK: DEUTSCHE BANK SECURITIES, INC. REF: DEUTSCHE BANK -DXCM US- 252131107
        252131107
        
          
        
        662130.00000000
        NC
        USD
        -111135.00000000
        -0.07200151069
        N/A
        DE
        
        US
        
        N
        
        2
        
          
            
              BRK: DEUTSCHE BANK SECURITIES, INC.
              N/A
            
            Y
            
              
                
              
            
            
            2022-05-14
            0.00000000
            USD
            0.00000000
            USD
            -1500.00000000
            USD
            -111135.00000000
          
        
        
          N
          N
          N
        
      
      
        SHAKE SHACK INC.
        529900J74GJAHYP80N79
        SHAKE SHACK INC 144A ZERO COUPON 03/01/2028
        819047AA9
        
          
        
        1400000.00000000
        PA
        USD
        1298500.00000000
        0.841264782780
        Long
        DBT
        CORP
        US
        
        Y
        
        2
        
          2028-03-01
          Fixed
          0.00000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        BRK: DEUTSCHE BANK SECURITIES
        N/A
        BRK: DEUTSCHE BANK SECURITIES REF: DEUTSCHE BANK - BBIO -10806XAB8
        10806XAA0
        
          
        
        2000000.00000000
        NC
        USD
        -220942.20000000
        -0.14314277388
        N/A
        DE
        
        US
        
        N
        
        2
        
          
            
              BRK: DEUTSCHE BANK SECURITIES
              N/A
            
            Y
            
            
              
                
              
            
            2027-03-15
            0.00000000
            USD
            0.00000000
            USD
            -3214742.20000000
            USD
            -220942.20000000
          
        
        
          N
          N
          N
        
      
      
        THE CHEESECAKE FACTORY INCORPORATED
        529900872XMLK10SY247
        CHEESECAKE FACTORY INC/THE 0.375000% 06/15/2026
        163072AA9
        
          
        
        1500000.00000000
        PA
        USD
        1400625.00000000
        0.907428946000
        Long
        DBT
        CORP
        US
        
        N
        
        2
        
          2026-06-15
          Fixed
          0.37500000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        N/A
        N/A
        SPXW US 07/30/21 P3675 LONG
        N/A
        
          
        
        25.00000000
        NC
        USD
        125.00000000
        0.000080984287
        N/A
        DE
        
        US
        
        N
        
        1
        
          
            
              SPXW US 07/30/21 P3675
              N/A
            
            Put
            Purchased
            
              
                Put Option 3675 Jul 2021 on S&P 500 Index
                N/A
                N/A
              
            
            2500.00000000
            675.00000000
            USD
            2021-08-02
            XXXX
            -122450.87000000
          
        
        
          N
          N
          N
        
      
      
        MICROSTRATEGY INCORPORATED
        549300WQTWEJUEHXQX21
        MICROSTRATEGY INC 144A ZERO COUPON 02/15/2027
        594972AD3
        
          
        
        1700000.00000000
        PA
        USD
        1259700.00000000
        0.816127259813
        Long
        DBT
        CORP
        US
        
        Y
        
        2
        
          2027-02-15
          Fixed
          0.00000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        BRK: BNP PARIBAS
        N/A
        BRK: BNP PARIBAS REF: BNP PARIBAS -LUV 1 1/4 05/01/25- 844741BG2
        844741BG2
        
          
        
        3000000.00000000
        NC
        USD
        -68160.90000000
        -0.04415969559
        N/A
        DE
        
        US
        
        N
        
        2
        
          
            
              BRK: BNP PARIBAS
              N/A
            
            Y
            
            
              
                
              
            
            2025-05-01
            0.00000000
            USD
            0.00000000
            USD
            -4465035.90000000
            USD
            -68160.90000000
          
        
        
          N
          N
          N
        
      
      
        GEO CORRECTIONS HOLDINGS, INC.
        549300XXD9YCW478KH70
        GEO CORRECTIONS HOLDINGS INC 144A 6.500000% 02/23/2026
        36166WAA1
        
          
        
        1750000.00000000
        PA
        USD
        1670156.25000000
        1.082051316800
        Long
        DBT
        CORP
        US
        
        Y
        
        2
        
          2026-02-23
          Fixed
          6.50000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        BRIDGEBIO PHARMA, INC.
        54930028YG89VTY2J114
        BRIDGEBIO PHARMA INC 144A 2.250000% 02/01/2029
        10806XAC6
        
          
        
        1150000.00000000
        PA
        USD
        1047168.15000000
        0.678433335575
        Long
        DBT
        CORP
        US
        
        Y
        
        2
        
          2029-02-01
          Fixed
          2.25000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        AMERICAN ELECTRIC POWER COMPANY, INC.
        1B4S6S7G0TW5EE83BO58
        AMERICAN ELECTRIC POWER CO INC 0.750000% 11/01/2023
        025537AQ4
        
          
        
        2750000.00000000
        PA
        USD
        2752058.95000000
        1.782988274755
        Long
        DBT
        CORP
        US
        
        N
        
        2
        
          2023-11-01
          Fixed
          0.75000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        BRK: BNP PARIBAS
        N/A
        BRK: BNP PARIBAS REF: BNP PARIBAS -SPOT US- L8681T102
        L8681T102
        
          
        
        674478.40000000
        NC
        USD
        52496.00000000
        0.034010809423
        N/A
        DE
        
        US
        
        N
        
        2
        
          
            
              BRK: BNP PARIBAS
              N/A
            
            Y
            
              
                
              
            
            
            2023-04-01
            0.00000000
            USD
            0.00000000
            USD
            -2720.00000000
            USD
            52496.00000000
          
        
        
          N
          N
          N
        
      
      
        BRK: DEUTSCHE BANK SECURITIES, INC.
        N/A
        BRK: DEUTSCHE BANK SECURITIES, INC. REF: DEUTSCHE BANK - EXACT SCI CORP -30063P105
        30063P105
        
          
        
        1344672.00000000
        NC
        USD
        42504.00000000
        0.027537249385
        N/A
        DE
        
        US
        
        N
        
        2
        
          
            
              BRK: DEUTSCHE BANK SECURITIES, INC.
              N/A
            
            Y
            
              
                
              
            
            
            2022-01-15
            0.00000000
            USD
            0.00000000
            USD
            -12075.00000000
            USD
            42504.00000000
          
        
        
          N
          N
          N
        
      
      
        AVAYA HOLDINGS CORP.
        549300NZS2OZN6Q63A60
        AVAYA HOLDINGS CORP 2.250000% 06/15/2023
        05351XAB7
        
          
        
        2000000.00000000
        PA
        USD
        2234000.00000000
        1.447351193478
        Long
        DBT
        CORP
        US
        
        N
        
        2
        
          2023-06-15
          Fixed
          2.25000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        SFL CORPORATION LTD.
        549300RLYYPSB0C7RH77
        SFL CORP LTD 4.875000% 05/01/2023
        824689AG8
        
          
        
        2000000.00000000
        PA
        USD
        1967500.00000000
        1.274692691659
        Long
        DBT
        CORP
        NO
        
        N
        
        2
        
          2023-05-01
          Fixed
          4.87500000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        BRK: BNP PARIBAS
        N/A
        BRK: BNP PARIBAS REF: BNP PARIBAS -CHEF US- 163086101
        163086101
        
          
        
        793815.00000000
        NC
        USD
        -24621.00000000
        -0.01595131322
        N/A
        DE
        
        US
        
        N
        
        2
        
          
            
              BRK: BNP PARIBAS
              N/A
            
            Y
            
              
                
              
            
            
            2023-04-08
            0.00000000
            USD
            0.00000000
            USD
            -28300.00000000
            USD
            -24621.00000000
          
        
        
          N
          N
          N
        
      
      
        HORIZON GLOBAL CORPORATION
        549300D1ZZV3IWN54G85
        HORIZON GLOBAL CORP 2.750000% 07/01/2022
        44052WAA2
        
          
        
        2000000.00000000
        PA
        USD
        1947736.00000000
        1.261888103930
        Long
        DBT
        CORP
        US
        
        N
        
        2
        
          2022-07-01
          Fixed
          2.75000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        BRK: DEUTSCHE BANK SECURITIES, INC.
        N/A
        BRK: DEUTSCHE BANK SECURITIES, INC. REF: DEUTSCHE BANK - IAR -457985208
        457985208
        
          
        
        1138176.00000000
        NC
        USD
        -99693.00000000
        -0.06458853291
        N/A
        DE
        
        US
        
        N
        
        2
        
          
            
              BRK: DEUTSCHE BANK SECURITIES, INC.
              N/A
            
            Y
            
              
                
              
            
            
            2022-02-20
            0.00000000
            USD
            0.00000000
            USD
            -17100.00000000
            USD
            -99693.00000000
          
        
        
          N
          N
          N
        
      
      
        APOLLO COMMERCIAL REAL ESTATE FINANCE, INC.
        549300E0AN7M2AQHSY29
        APOLLO COMMERCIAL REAL ESTATE FINANCE INC 4.750000% 08/23/2022
        03762UAB1
        
          
        
        4000000.00000000
        PA
        USD
        4040000.00000000
        2.617412185161
        Long
        DBT
        CORP
        US
        
        N
        
        2
        
          2022-08-23
          Fixed
          4.75000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        CONMED CORPORATION
        Z6C0YCECH9DCU5ZIQW84
        CONMED CORP 2.625000% 02/01/2024
        207410AF8
        
          
        
        2000000.00000000
        PA
        USD
        3221250.00000000
        2.086965099369
        Long
        DBT
        CORP
        US
        
        N
        
        2
        
          2024-02-01
          Fixed
          2.62500000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        BRK: BNP PARIBAS
        N/A
        BRK: BNP PARIBAS REF: BNP PARIBAS -SHAK US- 819047101
        819047101
        
          
        
        465200.00000000
        NC
        USD
        -37500.00000000
        -0.02429528637
        N/A
        DE
        
        US
        
        N
        
        2
        
          
            
              BRK: BNP PARIBAS
              N/A
            
            Y
            
              
                
              
            
            
            2023-03-04
            0.00000000
            USD
            0.00000000
            USD
            -5000.00000000
            USD
            -37500.00000000
          
        
        
          N
          N
          N
        
      
      
        SFL CORPORATION LTD.
        549300RLYYPSB0C7RH77
        SFL CORP LTD 5.750000% 10/15/2021
        G81075AF3
        
          
        
        3000000.00000000
        PA
        USD
        3026400.00000000
        1.960726791379
        Long
        DBT
        CORP
        NO
        
        N
        
        2
        
          2021-10-15
          Fixed
          5.75000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        BRK: BNP PARIBAS
        N/A
        BRK: BNP PARIBAS REF: BNP PARIBAS -CAKE US- 163072101
        163072101
        
          
        
        583224.00000000
        NC
        USD
        67260.00000000
        0.043576025637
        N/A
        DE
        
        US
        
        N
        
        2
        
          
            
              BRK: BNP PARIBAS
              N/A
            
            Y
            
              
                
              
            
            
            2023-06-15
            0.00000000
            USD
            0.00000000
            USD
            -11400.00000000
            USD
            67260.00000000
          
        
        
          N
          N
          N
        
      
      
        BRK: BNP PARIBAS
        N/A
        BRK: BNP PARIBAS REF: BNP PARIBAS -AAWW 2 1/4 06/01/22- 049164BH8
        049164BH8
        
          
        
        560000.00000000
        NC
        USD
        -5431.44000000
        -0.00351889040
        N/A
        DE
        
        US
        
        N
        
        2
        
          
            
              BRK: BNP PARIBAS
              N/A
            
            Y
            
            
              
                
              
            
            2022-06-01
            0.00000000
            USD
            0.00000000
            USD
            -600431.44000000
            USD
            -5431.44000000
          
        
        
          N
          N
          N
        
      
      
        GRANITE POINT MORTGAGE TRUST INC.
        529900VX2HQZ76AYIE02
        GRANITE POINT MORTGAGE TRUST INC 144A 5.625000% 12/01/2022
        38741LAB3
        
          
        
        4000000.00000000
        PA
        USD
        3957500.00000000
        2.563962555143
        Long
        DBT
        CORP
        US
        
        Y
        
        2
        
          2022-12-01
          Fixed
          5.62500000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        LIBERTY MEDIA CORPORATION
        549300ZKUTPIBZLWLL89
        LIBERTY MEDIA CORP 144A 0.500000% 12/01/2050
        531229AK8
        
          
        
        2500000.00000000
        PA
        USD
        2743750.00000000
        1.777605119563
        Long
        DBT
        CORP
        US
        
        Y
        
        2
        
          2050-12-01
          Fixed
          0.50000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        IQIYI, INC.
        222100XL8T2Q5B8MS302
        IQIYI INC 4.000000% 12/15/2026
        46267XAE8
        
          
        
        2000000.00000000
        PA
        USD
        1717504.00000000
        1.112726707342
        Long
        DBT
        CORP
        CN
        
        N
        
        2
        
          2026-12-15
          Fixed
          4.00000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        BRK: BNP PARIBAS
        N/A
        BRK: BNP PARIBAS REF: BNP PARIBAS -PRGS US- 743312100
        743312100
        
          
        
        1732992.00000000
        NC
        USD
        -17664.00000000
        -0.01144405169
        N/A
        DE
        
        US
        
        N
        
        2
        
          
            
              BRK: BNP PARIBAS
              N/A
            
            Y
            
              
                
              
            
            
            2023-04-23
            0.00000000
            USD
            0.00000000
            USD
            -38400.00000000
            USD
            -17664.00000000
          
        
        
          N
          N
          N
        
      
      
        BRK: DEUTSCHE BANK SECURITIES, INC.
        N/A
        BRK: DEUTSCHE BANK SECURITIES, INC. REF: DEUTSCHE BANK - WORKDAY INC - 98138H101
        98138H101
        
          
        
        1395070.00000000
        NC
        USD
        -34770.00000000
        -0.02252658952
        N/A
        DE
        
        US
        
        N
        
        2
        
          
            
              BRK: DEUTSCHE BANK SECURITIES, INC.
              N/A
            
            Y
            
              
                
              
            
            
            2025-01-15
            0.00000000
            USD
            0.00000000
            USD
            -6100.00000000
            USD
            -34770.00000000
          
        
        
          N
          N
          N
        
      
      
        NEXTERA ENERGY CAPITAL HOLDINGS, INC.
        UMI46YPGBLUE4VGNNT48
        NEXTERA ENERGY CAPITAL HOLDINGS INC 0.650000% 03/01/2023
        65339KBU3
        
          
        
        400000.00000000
        PA
        USD
        401440.78000000
        0.260083165641
        Long
        DBT
        CORP
        US
        
        N
        
        2
        
          2023-03-01
          Fixed
          0.65000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        HUAZHU GROUP LIMITED
        549300Y5ML31FVN83730
        HUAZHU GROUP LTD 144A 3.000000% 05/01/2026
        44332NAA4
        
          
        
        1785000.00000000
        PA
        USD
        2288146.88000000
        1.482431565631
        Long
        DBT
        CORP
        CN
        
        Y
        
        2
        
          2026-05-01
          Fixed
          3.00000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        BRK: BNP PARIBAS
        N/A
        BRK: BNP PARIBAS REF: BNP PARIBAS - 56400PAP7
        56400PAP7
        
          
        
        1500000.00000000
        NC
        USD
        -39909.00000000
        -0.02585601556
        N/A
        DE
        
        US
        
        N
        
        2
        
          
            
              BRK: BNP PARIBAS
              N/A
            
            Y
            
            
              
                
              
            
            2026-03-01
            0.00000000
            USD
            0.00000000
            USD
            -1662721.50000000
            USD
            -39909.00000000
          
        
        
          N
          N
          N
        
      
      
        REALOGY GROUP LLC
        LF6PBYTYG3BDVEF4FI12
        REALOGY GROUP LLC / REALOGY CO-ISSUER CORP 144A 0.250000% 06/15/2026
        75606DAN1
        
          
        
        1500000.00000000
        PA
        USD
        1522080.00000000
        0.986116519502
        Long
        DBT
        CORP
        US
        
        Y
        
        2
        
          2026-06-15
          Fixed
          0.25000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        BRK: BNP PARIBAS
        N/A
        BRK: BNP PARIBAS REF: BNP PARIBAS -ETSY US- 29786A106
        29786A106
        
          
        
        1203180.00000000
        NC
        USD
        -7986.00000000
        -0.00517392418
        N/A
        DE
        
        US
        
        N
        
        2
        
          
            
              BRK: BNP PARIBAS
              N/A
            
            Y
            
              
                
              
            
            
            2023-06-14
            0.00000000
            USD
            0.00000000
            USD
            -6600.00000000
            USD
            -7986.00000000
          
        
        
          N
          N
          N
        
      
      
        BRK: DEUTSCHE BANK - PRIME BROKER
        N/A
        BRK: DEUTSCHE BANK - PRIME BROKER REF: DEUTSCHE BANK - LYFT- 55087PAB0
        55087PAA2
        
          
        
        1500000.00000000
        NC
        USD
        -37570.05000000
        -0.02434066996
        N/A
        DE
        
        US
        
        N
        
        2
        
          
            
              BRK: DEUTSCHE BANK - PRIME BROKER
              N/A
            
            Y
            
            
              
                
              
            
            2025-05-15
            0.00000000
            USD
            0.00000000
            USD
            -2431570.05000000
            USD
            -37570.05000000
          
        
        
          N
          N
          N
        
      
    
    
      2021-07-31
      THE ADVISORS' INNER CIRCLE FUND
      Eric Olsen
      Eric Olsen
      CFO
    
  
  XXXX


THE ADVISORS’ INNER CIRCLE FUND		WESTWOOD ALTERNATIVE INCOME FUND
		JULY 31, 2021 (Unaudited)


SCHEDULE OF INVESTMENTS
CONVERTIBLE BONDS —83.1%

	Face Amount		Value
Accuray 3.750%, 06/01/26 (A)	$	3,000,000	$	3,082,500
Apellis Pharmaceuticals 3.500%, 09/15/26		1,000,000		1,878,750
Apollo Commercial Real Estate Finance 4.750%, 08/23/22		4,000,000		4,040,000
Ares Capital 3.750%, 02/01/22		3,000,000		3,155,625
Atlas Air Worldwide Holdings 2.250%, 06/01/22		1,500,000		1,593,750
Avadel Finance Cayman 4.500%, 02/01/23 (A)		1,000,000		1,065,024
Avaya Holdings 2.250%, 06/15/23		2,000,000		2,234,000
Blackstone Mortgage Trust 4.375%, 05/05/22		2,000,000		2,038,800
Bloom Energy 2.500%, 08/15/25 (A)		2,000,000		3,045,000
Bridgebio Pharma 2.500%, 03/15/27		1,000,000		1,496,900
2.250%, 02/01/29 (A)		1,150,000		1,047,168
Cheesecake Factory 0.375%, 06/15/26		1,500,000		1,400,625
CONMED 2.625%, 02/01/24		2,000,000		3,221,250
CryoLife 4.250%, 07/01/25		3,000,000		4,155,000
DigitalBridge Group 5.000%, 04/15/23		2,000,000		2,040,820
DraftKings 0.000%, 03/15/28 (A) (B)		4,000,000		3,506,000
Etsy 0.250%, 06/15/28 (A)		2,500,000		2,611,250
Exact Sciences 0.375%, 03/01/28		1,200,000		1,369,500
FireEye 1.625%, 06/01/35		2,000,000		1,982,412
Ford Motor 0.056%, 03/15/26 (A) (B)		2,500,000		2,675,000
GEO Corrections Holdings 6.500%, 02/23/26 (A)		1,750,000		1,670,156
Golar LNG 2.750%, 02/15/22		2,000,000		1,980,000
Gossamer Bio 5.000%, 06/01/27		1,500,000		1,188,300
Granite Point Mortgage Trust 5.625%, 12/01/22 (A)		4,000,000		3,957,500
GSK Finance No. 3 0.000%, 06/22/23 (A) (B)		735,000		739,594
Hercules Capital 4.375%, 02/01/22		1,000,000		1,065,000
Horizon Global 2.750%, 07/01/22		2,000,000		1,947,736
Huazhu Group 3.000%, 05/01/26 (A)		1,785,000		2,288,147
Innoviva 2.125%, 01/15/23		2,000,000		2,056,250
iQIYI 4.000%, 12/15/26		2,000,000		1,717,504


CONVERTIBLE BONDS — continued

	Face Amount		Value
Itron 0.000%, 03/15/26 (A) (B)	$	2,000,000	$	2,049,794
J2 Global 1.750%, 11/01/26 (A)		2,500,000		3,225,000
JOYY 1.375%, 06/15/26		1,600,000		1,428,000
Liberty Media 0.500%, 12/01/50 (A)		2,500,000		2,743,750
Ligand Pharmaceuticals 0.750%, 05/15/23		2,000,000		1,951,236
Magnite 0.250%, 03/15/26 (A)		3,000,000		2,580,000
MicroStrategy 0.000%, 02/15/27 (A) (B)		1,700,000		1,259,700
NCL 6.000%, 05/15/24		2,000,000		3,909,000
OSI Systems 1.250%, 09/01/22		2,470,000		2,599,675
PDC Energy 1.125%, 09/15/21		3,000,000		2,973,999
PennyMac 5.500%, 11/01/24		3,500,000		3,524,062
Progress Software 1.000%, 04/15/26 (A)		4,000,000		4,011,208
PROS Holdings 1.000%, 05/15/24		1,500,000		1,515,938
Realogy Group 0.250%, 06/15/26 (A)		1,500,000		1,522,080
SFL 5.750%, 10/15/21		3,000,000		3,026,400
4.875%, 05/01/23		2,000,000		1,967,500
Shake Shack 0.000%, 03/01/28 (A) (B)		1,400,000		1,298,500
Slack Technologies 0.500%, 04/15/25		2,500,000		3,868,750
Spotify USA 1.338%, 03/15/26 (A) (B)		3,000,000		2,703,000
SunPower 4.000%, 01/15/23		1,500,000		1,948,200
Tilray 5.000%, 10/01/23		4,650,000		4,533,750
Twitter 1.000%, 09/15/21		3,000,000		3,001,875
Weibo 1.250%, 11/15/22		1,800,000		1,710,000
Workiva 1.125%, 08/15/26		1,000,000		1,727,472
Zillow Group 2.750%, 05/15/25		515,000		918,245
Total Convertible Bonds (Cost $123,355,885)				128,246,695


CORPORATE OBLIGATIONS —4.8%

American Electric Power 0.750%, 11/01/23		2,750,000		2,752,059
Avolon Holdings Funding 4.250%, 04/15/26 (A)		250,000		273,304


THE ADVISORS’ INNER CIRCLE FUND		WESTWOOD ALTERNATIVE INCOME FUND
		JULY 31, 2021 (Unaudited)


CORPORATE OBLIGATIONS — continued

	Face Amount		Value
Goldman Sachs Group 0.627%, VAR United States Secured Overnight Financing Rate+0.538%, 11/17/23	$	1,000,000	$	1,000,303
NextEra Energy Capital Holdings 0.650%, 03/01/23		400,000		401,441
NGL Energy Operating 7.500%, 02/01/26 (A)		925,000		950,438
Phillips 66 0.900%, 02/15/24		500,000		500,442
Starwood Property Trust 5.000%, 12/15/21		445,000		446,112
Vector Group 5.750%, 02/01/29 (A)		1,000,000		1,015,000
Total Corporate Obligations (Cost $7,305,960)				7,339,099


U.S. TREASURY OBLIGATIONS —3.9%

U.S. Treasury Bill 0.110%, 11/04/21 (B)		3,000,000		2,999,609
U.S. Treasury Note 0.125%, 10/31/22		3,000,000		3,000,703
Total U.S. Treasury Obligations (Cost $5,997,329)				6,000,312


SOVEREIGN DEBT —0.4%

Mexico Government International Bond 3.771%, 05/24/61		235,000		218,550


SOVEREIGN DEBT — continued

	Face Amount			Value
Peruvian Government International Bond 3.300%, 03/11/41	$	240,000		$	234,000
2.783%, 01/23/31		235,000			235,914
Total Sovereign Debt (Cost $702,241)					688,464


SHORT-TERM INVESTMENT —4.9%

	Shares
SEI Daily Income Trust, Government Fund, Cl F, 0.010% (C)		7,573,981			7,573,981

Total Short-Term Investment (Cost $7,573,981)					7,573,981

Total Investments — 97.1% (Cost $144,935,396)				$	149,848,551


SECURITIES SOLD SHORT COMMON STOCK — (0.3)%

	Shares			Value
UNITED STATES — (0.3)%
Twitter *		(7,500	)	$	(523,125	)
Total Securities Sold Short — (0.3)% (Proceeds $524,847)				$	(523,125	)


*PURCHASED OPTIONS — 0.2%(D)**

	Contracts			Value
Total Purchased Options (Cost $547,205)		78		$	233,895

A list of the OTC option contracts held by the Fund at July 31, 2021, is as follows:




PURCHASED OPTIONS — 0.2%

	Contracts		Notional		Strike Price		Expiration Date		Value
Put Options

UNITED STATES — 0.2%
August 21 Puts on NDX*		10		$14,959,900		$12,300.00		08/21/21		$6,300
July 21 Puts on SPXW*		25		10,988,150		3,675.00		08/21/21		125
October 21 Puts on SPXW*		43		18,899,618		3,950.00		11/20/21		227,470

Total Put Options										233,895


Total Purchased Options										$233,895


THE ADVISORS’ INNER CIRCLE FUND		WESTWOOD ALTERNATIVE INCOME FUND
		JULY 31, 2021 (Unaudited)

A list of the open futures contracts held by the Fund at July 31, 2021, is as follows:


Type of Contract	Number of Contracts Short			Expiration Date		Notional Amount			Value			Unrealized Depreciation

U.S. 10-Year Treasury
Note		(2	)		Sep-2021	$	(263,438	)	$	(268,906	)	$	(5,468	)
U.S. 5-Year Treasury
Note		(2	)		Oct-2021		(247,375	)		(248,891	)		(1,516	)
U.S. Long Treasury
Bond		(4	)		Sep-2021		(624,375	)		(658,875	)		(34,500	)

						$	(1,135,188	)	$	(1,176,672	)	$	(41,484	)

A list of the open OTC swap agreements at July 31, 2021 is as follows:

Total Return Swaps

Counterparty

Reference Entity/Obligation

Fund Pays

Fund Receives

Payment Frequency

Termination
Date

Currency

Notional

Amount

Value

Upfront
Payments/
Receipts

Net Unrealized
Appreciation
(Depreciation)

BNP Paribas

Accuracy Inc.

BNP PARIBAS -ARAY

TOTAL RETURN

Effective Rate -0.27%

US- 004397105

STOCK

Annually

05/21/2023

USD

1,569,742

(4,000

)

–

(4,000

)

BNP Paribas

Atlas Air Worldwide, 2.250%

BNP PARIBAS

FIX NOMINAL

Effective Rate 1.19%

-AAWW 2 1/4

06/01/22- 049164BH8

Annually

06/01/2022

USD

(600,431

)

(3,568

)

–

(3,568

)

BNP Paribas

Avadel Pharmaceutica

BNP PARIBAS -AVDL

TOTAL RETURN

Effective Rate -0.27%

US- 05337M104

STOCK

Annually

01/28/2023

USD

189,786

(29,348

)

–

(29,348

)

BNP Paribas

Avaya Holdings Corp.

BNP PARIBAS -AVYA

TOTAL RETURN

Effective Rate -0.27%

US- 05351X101

STOCK

Annually

12/04/2022

USD

1,174,680

41,063

–

41,063

BNP Paribas

Beyond Meat

BNP PARIBAS

TOTAL RETURN

Effective Rate 1.19%

- 08862EAA7

BOND

Annually

03/15/2027

USD

3,100,000

(70,950

)

–

(70,950

)

BNP Paribas

Beyond Meat

BNP PARIBAS -BYND

TOTAL RETURN

Effective Rate -0.27%

US -‘08862E109

STOCK

Annually

03/05/2023

USD

1,148,901

56,752

–

56,752

BNP Paribas

Bloom Energy

BNP BLOOM ENERGY

TOTAL RETURN

Effective Rate -0.27%

093712107

STOCK

Annually

08/11/2022

USD

2,224,992

(125,278

)

–

(125,278

)

BNP Paribas

Cheesecake Factory

BNP PARIBAS -CAKE

TOTAL RETURN

Effective Rate -0.27%

US- 163072101

STOCK

Annually

06/15/2023

USD

583,224

67,200

–

67,200

BNP Paribas

Chefs’ Warehouse

BNP PARIBAS

TOTAL RETURN

Effective Rate 1.19%

- 163086AC5

BOND

Annually

12/01/2024

USD

2,500,000

20,050

–

20,050

BNP Paribas

Chefs’ Warehouse

BNP PARIBAS -CHEF

TOTAL RETURN

Effective Rate -0.27%

US- 163086101

STOCK

Annually

04/08/2023

USD

793,815

(24,703

)

–

(24,703

)

BNP Paribas

Copa Holdings

BNP PARIBAS

TOTAL RETURN

Effective Rate 1.19%

- 21720AAB8

BOND

Annually

04/15/2025

USD

(4,666,038

)

48,877

–

48,877

BNP Paribas

Cryolife

BNP PARIBAS -CRY

TOTAL RETURN

Effective Rate -0.27%

US- 228903100

STOCK

Annually

05/14/2023

USD

2,645,478

(116,895

)

–

(116,895

)

BNP Paribas

Dexcom Inc.

BNP PARIBAS

FIX NOMINAL

Effective Rate 1.19%

- DXCM-252131AK3

Annually

11/15/2025

USD

(2,110,837

)

156,888

–

156,888

BNP Paribas

DraftKings

BNP PARIBAS -DKNG

TOTAL RETURN

Effective Rate -0.27%

US- 26142R104

STOCK

Annually

04/08/2023

USD

1,192,478

(97,745

)

–

(97,745

)

BNP Paribas

Etsy

BNP PARIBAS -ETSY

TOTAL RETURN

Effective Rate -0.27%

US- 29786A106

STOCK

Annually

06/14/2023

USD

1,203,180

(8,110

)

–

(8,110

)

BNP Paribas

Exact Sciences, 0.38%

BNP PARIBAS EXACT

FIX NOMINAL

Effective Rate 1.19%

SCI CO 30063PAC9

Annually

03/01/2028

USD

(930,994

)

(17,110

)

–

(17,110

)

BNP Paribas

Ford Motor Company

BNP PARIBAS -F

TOTAL RETURN

Effective Rate -0.27%

US- 345370860

STOCK

Annually

03/19/2023

USD

1,094,882

4,576

–

4,576

BNP Paribas

Geo Group

BNP PARIBAS -GEO

TOTAL RETURN

Effective Rate -0.27%

US- 36162J106

STOCK

Annually

03/01/2023

USD

1,143,690

(37,672

)

–

(37,672

)

BNP Paribas

IQIYI Inc.

BNP PARIBAS -IQ

TOTAL RETURN

Effective Rate -0.27%

US- 46267X108

STOCK

Annually

01/28/2023

USD

855,456

105,416

–

105,416

BNP Paribas

Itron

BNP PARIBAS -ITRI

TOTAL RETURN

Effective Rate -0.27%

US- 465741106

STOCK

Annually

03/15/2023

USD

826,239

(31,840

)

–

(31,840

)

BNP Paribas

Live Nation Entertainment

BNP PARIBAS -LYV

TOTAL RETURN

Effective Rate -0.27%

US- 538034109

STOCK

Annually

11/13/2022

USD

1,350,817

17,436

–

17,436

BNP Paribas

Magnite

BNP PARIBAS -MGNI

TOTAL RETURN

Effective Rate -0.27%

US- 55955D100

STOCK

Annually

03/18/2023

USD

759,294

(22,524

)

–

(22,524

)

BNP Paribas

Microstrategy Inc.

BNP PARIBAS -MSTR

TOTAL RETURN

Effective Rate -0.27%

US- 594972408

STOCK

Annually

12/11/2022

USD

378,728

(59,518

)

–

(59,518

)

BNP Paribas

Minerals Technologies

BNP PARIBAS -MNKD

TOTAL RETURN

Effective Rate -0.27%

US- 56400P706

STOCK

Annually

03/17/2023

USD

962,022

76,889

–

76,889

BNP Paribas

Minerals Technologies

BNP PARIBAS

TOTAL RETURN

Effective Rate 1.19%

- 56400PAP7

BOND

Annually

03/01/2026

USD

(1,662,722

)

(24,597

)

–

(24,597

)

BNP Paribas

National Vision Holdings Inc.

BNP PARIBAS

TOTAL RETURN

Effective Rate 1.19%

- 63845RAB3

BOND

Annually

05/15/2025

USD

(4,375,206

)

225,330

–

225,330

BNP Paribas

National Vision Holdings Inc.

BNP PARIBAS -EYE

TOTAL RETURN

Effective Rate -0.27%

US- 63845R107

STOCK

Annually

01/22/2023

USD

3,445,560

(225,436

)

–

(225,436

)

BNP Paribas

OSI Systems

BNP PARIBAS -OSIS

TOTAL RETURN

Effective Rate -0.27%

US 671044105

STOCK

Annually

08/31/2022

USD

888,797

(21,750

)

–

(21,750

)


THE ADVISORS’ INNER CIRCLE FUND		WESTWOOD ALTERNATIVE INCOME FUND
		JULY 31, 2021 (Unaudited)

Total Return Swaps (continued)

Counterparty

Reference Entity/Obligation

Fund Pays

Fund Receives

Payment Frequency

Termination
Date

Currency

Notional

Amount

Value

Upfront
Payments/
Receipts

Net Unrealized
Appreciation
(Depreciation)

BNP Paribas

Progress Software

BNP PARIBAS -PRGS

TOTAL RETURN

Effective Rate -0.27%

US- 743312100

STOCK

Annually

04/23/2023

USD

1,732,992

(17,843

)

–

(17,843

)

BNP Paribas

Pros Holdings Inc.

BNP PARIBAS -PRO

TOTAL RETURN

Effective Rate -0.27%

US- 74346Y103

STOCK

Annually

11/13/2022

USD

346,415

3,361

–

3,361

BNP Paribas

Realogy Holdings Corp.

BNP PARIBAS -RLGY

TOTAL RETURN

Effective Rate -0.27%

US- 75605Y106

STOCK

Annually

06/04/2023

USD

630,360

(7,625

)

–

(7,625

)

BNP Paribas

Shake Shack

BNP PARIBAS -SHAK

TOTAL RETURN

Effective Rate -0.27%

US- 819047101

STOCK

Annually

03/04/2023

USD

465,200

(37,548

)

–

(37,548

)

BNP Paribas

Southwest Airlines Co.

BNP PARIBAS -LUV

TOTAL RETURN

Effective Rate -0.27%

US- 844741108

STOCK

Annually

12/11/2022

USD

3,080,910

74,652

–

74,652

BNP Paribas

Southwest Airlines Co., 1.250%

BNP PARIBAS

FIX NOMINAL

Effective Rate 1.19%

-LUV 1 1/4

05/01/25- 844741BG2

Annually

05/01/2025

USD

(4,465,036

)

(60,542

)

–

(60,542

)

BNP Paribas

Spotify Technology

BNP PARIBAS -SPOT

TOTAL RETURN

Effective Rate -0.27%

US- L8681T102

STOCK

Annually

04/01/2023

USD

674,478

52,426

–

52,426

BNP Paribas

SunPower

BNP PARIBAS - SPWR

TOTAL RETURN

Effective Rate -0.27%

-867652406

STOCK

Annually

10/09/2022

USD

916,500

(49,625

)

–

(49,625

)

BNP Paribas

Twitter

BNP PARIBAS

TOTAL RETURN

Effective Rate 1.19%

- 90184LAM4

BOND

Annually

03/15/2026

USD

3,000,000

20,871

–

20,871

BNP Paribas

Twitter

TOTAL RETURN

FIX NOMINAL

Effective Rate -0.27%

STOCK

Annually

02/12/2023

USD

551,367

(13,665

)

–

(13,665

)

BNP Paribas

Zogenix

BNP PARIBAS

TOTAL RETURN

Effective Rate 1.19%

- 98978LAA3

BOND

Annually

10/01/2027

USD

(2,651,053

)

(172,649

)

–

(172,649

)

BNP Paribas

Zogenix

BNP PARIBAS -ZGNX

TOTAL RETURN

Effective Rate -0.27%

US- 98978L204

STOCK

Annually

04/23/2023

USD

1,471,524

136,901

–

136,901

Deutsche Bank

Akam, 0.125%

EUTSCHE BANK-

FIX NOMINAL

Effective Rate 1.19%

AKAM 0 1/8 5/1/25

- 00971TAJ0

Annually

05/01/2025

USD

(2,618,602

)

51,993

–

51,993

Deutsche Bank

Akamai Tech Inc.

DEUTSCHE BANK -

TOTAL RETURN

Effective Rate -0.27%

AKAMAI TECH INC

STOCK

- 00971T101

Annually

01/15/2024

USD

1,770,040

(52,927

)

–

(52,927

)

Deutsche Bank

Apellis Pharmaceuticals Inc.

DEUTSCHE

TOTAL RETURN

Effective Rate -0.27%

BANK -APLS US

STOCK

- 03753U106

Annually

05/15/2022

USD

1,299,573

(28,354

)

–

(28,354

)

Deutsche Bank

Atlas Air Worldwide

DEUTSCHE

TOTAL RETURN

Effective Rate -0.27%

BANK - AAWWUS

STOCK

- 049164205

Annually

08/29/2022

USD

771,732

(11,897

)

–

(11,897

)

Deutsche Bank

Bridge Bio

DEUTSCHE BANK -

FIX NOMINAL

Effective Rate 1.19%

BBIO -10806XAB8

Annually

03/15/2027

USD

(3,214,742

)

(203,318

)

–

(203,318

)

Deutsche Bank

Bridge Bio

DEUTSCHE BANK

TOTAL RETURN

Effective Rate -0.27%

- BRIDGEBIO

STOCK

-10806X102

Annually

03/05/2022

USD

4,036,604

400,250

–

400,250

Deutsche Bank

Conmed Corp

DEUTSCHE

TOTAL RETURN

Effective Rate -0.27%

BANK - CONMED

STOCK

CORP- 207410101

Annually

04/13/2022

USD

2,425,626

(181,691

)

–

(181,691

)

Deutsche Bank

Copa Holdings

DEUTSCHE BANK

TOTAL RETURN

Effective Rate -0.27%

-CPA US- P31076105

STOCK

Annually

04/30/2022

USD

3,486,796

(80,337

)

–

(80,337

)

Deutsche Bank

CSG Systems International Inc.

DEUTSCHE BANK

TOTAL RETURN

Effective Rate -0.27%

- CSG SYS INT INC

STOCK

- 126349109

Annually

01/15/2024

USD

146,528

1,361

–

1,361

Deutsche Bank

Dexcom Inc.

DEUTSCHE

TOTAL RETURN

Effective Rate -0.27%

BANK -DXCM

STOCK

US- 252131107

Annually

05/14/2022

USD

662,130

(111,203

)

–

(111,203

)

Deutsche Bank

Exact Sciences

DEUTSCHE BANK

TOTAL RETURN

Effective Rate -0.27%

- EXACT SCI CORP

STOCK

-30063P105

Annually

01/15/2022

USD

1,344,672

42,365

–

42,365

Deutsche Bank

Fireeye Inc.

DEUTSCHE BANK

TOTAL RETURN

Effective Rate -0.27%

- FIREEYE INC

STOCK

- 31816Q101

Annually

01/15/2024

USD

329,238

(7,025

)

–

(7,025

)

Deutsche Bank

Fireeye Inc.

DEUTSCHE BANK

FIX NOMINAL

Effective Rate 1.19%

- FEYE 0 7/8 2024

- 31816QAF8

Annually

06/01/2024

USD

(880,786

)

10,251

–

10,251

Deutsche Bank

Gossamer Bio Inc.

DEUTSCHE

TOTAL RETURN

Effective Rate -0.27%

BANK -GOSS

STOCK

US- 38341P102

Annually

05/21/2022

USD

485,601

(35,873

)

–

(35,873

)

Deutsche Bank

Huazhu Group Ltd.

DEUTSCHE BANK -

TOTAL RETURN

Effective Rate -0.27%

HTHT US 44332N106 STOCK

STOCK

Annually

06/05/2022

USD

1,828,960

231,981

–

231,981

Deutsche Bank

Integra Lifesciences Holding

DEUTSCHE BANK -

TOTAL RETURN

Effective Rate -0.27%

IAR -457985208

STOCK

Annually

02/20/2022

USD

1,138,176

(99,811

)

–

(99,811

)

Deutsche Bank

Integra Lifesciences Holding

DEUTSCHE

FIX NOMINAL

Effective Rate 1.19%

BANK IART 0 1/2

08/15/25-457669AA7

Annually

02/20/2022

USD

(2,171,904

)

104,453

–

104,453

Deutsche Bank

J2 Global

DEUTSCHE BANK - J2

TOTAL RETURN

Effective Rate -0.27%

GLOBAL - 48123V102

STOCK

Annually

02/25/2022

USD

2,226,697

(33,853

)

–

(33,853

)

Deutsche Bank

Jazz Pharmaceuticals Inc.

DEUTSCHE BANK -

TOTAL RETURN

Effective Rate -0.27%

JAZZ INVESTMENTS

STOCK

G50871105

Annually

01/15/2022

USD

713,800

35,646

–

35,646


THE ADVISORS’ INNER CIRCLE FUND		WESTWOOD ALTERNATIVE INCOME FUND
		JULY 31, 2021 (Unaudited)

Total Return Swaps (continued)

Counterparty

Reference Entity/Obligation

Fund Pays

Fund Receives

Payment Frequency

Termination
Date

Currency

Notional

Amount

Value

Upfront
Payments/
Receipts

Net Unrealized
Appreciation
(Depreciation)

Deutsche Bank

Jazz, 1.5%

DEUTSCHE BANK -

FIX NOMINAL

Effective Rate 1.19%

JAZZ INVESTMENTS

472145AD3

Annually

08/15/2024

USD

(2,215,757

)

(45,154

)

–

(45,154

)

Deutsche Bank

Joyy Inc.

DEUTSCHE

TOTAL RETURN

Effective Rate -0.27%

BANK - JOYY INC

STOCK

- 46591M109

Annually

01/15/2022

USD

643,544

92,773

–

92,773

Deutsche Bank

LITE

DEUTSCHE

TOTAL RETURN

Effective Rate 1.19%

BANK -LITE 0 1/2

BOND

12/15/26-55024UAD1

Annually

12/15/2026

USD

(756,790

)

11,609

–

11,609

Deutsche Bank

Lumentum Holdings Inc.

DEUTSCHE

TOTAL RETURN

Effective Rate -0.27%

BANK-LUMENTUM

STOCK

HOLDINGS

INC-55024U109

Annually

01/15/2025

USD

349,719

(11,474

)

–

(11,474

)

Deutsche Bank

Lyft Inc.

DEUTSCHE BANK

FIX NOMINAL

Effective Rate 1.19%

- LYFT- 55087PAB0

Annually

05/15/2025

USD

(2,431,570

)

(33,777

)

–

(33,777

)

Deutsche Bank

Lyft Inc.

DEUTSCHE BANK

TOTAL RETURN

Effective Rate -0.27%

-LYFT US 55087P104

STOCK

Annually

05/15/2022

USD

1,751,360

(19,061

)

–

(19,061

)

Deutsche Bank

Okta Inc.

DEUTSCHE BANK -

TOTAL RETURN

Effective Rate -0.27%

OKTAS - 679295105

STOCK

Annually

01/15/2022

USD

1,496,754

(64,478

)

–

(64,478

)

Deutsche Bank

Okta Inc., 0.125%

DEUTSCHE BANK -

FIX NOMINAL

Effective Rate 1.19%

OKTAB - 679295AD7

Annually

09/01/2025

USD

(2,115,887

)

65,812

–

65,812

Deutsche Bank

salesforce.com

DEUTSCHE BANK

TOTAL RETURN

Effective Rate -0.27%

- SALESFORCE INC

STOCK

79466L302

Annually

08/15/2022

USD

1,346,692

(26,619

)

–

(26,619

)

Deutsche Bank

Systems International Inc.

DEUTSCHE BANK-

TOTAL RETURN

Effective Rate 1.19%

CSGS 4.25% 3/15/36

BOND

- 126349AF6

Annually

03/15/2036

USD

(750,125

)

940

–

940

Deutsche Bank

Theravance Biopharma

DEUTSCHE BANK US

TOTAL RETURN

Effective Rate -0.27%

-TBPH US-G8807B106

STOCK

Annually

06/22/2022

USD

68,100

3,193

–

3,193

Deutsche Bank

Wday, 0.25%

DEUTSCHE BANK -

FIX NOMINAL

Effective Rate 1.19%

WDAY0.25 10/01/22

- 98138HAF8

Annually

10/01/2022

USD

(1,591,270

)

27,037

–

27,037

Deutsche Bank

Work

DEUTSCHE BANK-

TOTAL RETURN

Effective Rate 1.19%

WORK - 04/15/2025-

STOCK

83088VAB8

Annually

04/15/2025

USD

(1,122,658

)

21,934

–

21,934

Deutsche Bank

Workday Inc.

DEUTSCHE BANK

TOTAL RETURN

Effective Rate -0.27%

- WORKDAY INC

STOCK

- 98138H101

Annually

01/15/2025

USD

1,395,070

(34,914

)

–

(34,914

)

Deutsche Bank

Workiva Inc.

DEUTSCHE BANK -

TOTAL RETURN

Effective Rate -0.27%

WKUS - 98139A105

STOCK

Annually

01/15/2022

USD

1,191,306

(125,983

)

–

(125,983

)

Deutsche Bank

Zillow Group

DEUTSCHE BANK -Z

TOTAL RETURN

Effective Rate -0.27%

US - 98954M200

STOCK

Annually

05/15/2022

USD

739,334

(10,071

)

–

(10,071

)

Goldman Sachs

Norwegian Cruise Line

GOLDMAN -

TOTAL RETURN

Effective Rate -0.27%

NORWEGIAN CRUISE

LINE HOLDIN

Annually

04/29/2025

USD

3,166,275

54,063

–

54,063

(234,012

)

–

(234,012

)

Percentages are based upon Net Assets of $154,307,481.

*	Non-income producing security.

(A)

Securities sold within the terms of a private placement memorandum, exempt from registration under section 144A of the Securities Act of 1933, as amended, and maybe sold only to dealers in that program or other “accredited investors”. The total value of these securities at July 31, 2021 was $49,319,113 and represents 32.0% of Net Assets.

(B)	Zero coupon security. The rate reported is the effective yield at the time of purchase.

(C)	The rate reported is the 7-day effective yield as of July 31, 2021.

(D)	Refer to table below for details on Options Contracts.

OTC — Over the counter

SPX — S&P 500 Index

USD — U.S. Dollar

VAR — Variable Rate

The following is a summary of the inputs used as of July 31, 2021 when valuing the Fund’s investments and other financial instruments:


Investments in Securities	Level 1		Level 2		Level 3		Total

Convertible Bonds	$	—	$	128,246,695	$	—	$	128,246,695
Corporate Obligations		—		7,339,099		—		7,339,099
U.S. Treasury Obligations		—		6,000,312		—		6,000,312
Sovereign Debt		—		688,464		—		688,464
Short-Term Investment		7,573,981		—		—		7,573,981

Total Investmentsin Securities	$	7,573,981	$	142,274,570	$	—	$	149,848,551


Securities Sold Short	Level 1			Level 2		Level 3		Total

Common Stock	$	(523,125	)	$	—	$	—	$	(523,125	)
Total Securities

Sold Short	$	(523,125	)	$	—	$	—	$	(523,125	)


THE ADVISORS’ INNER CIRCLE FUND		WESTWOOD ALTERNATIVE INCOME FUND
		JULY 31, 2021 (Unaudited)


Other Financial Instruments	Level 1			Level 2			Level 3		Total

Purchased Options	$	233,895		$	—		$	—	$	233,895
Futures Contracts*
Unrealized Depreciation		(41,484	)		—			—		(41,484	)
OTC Swaps Total Return Swaps*
Unrealized Appreciation		—			2,264,349			—		2,264,349
Unrealized Depreciation		—			(2,498,361	)		—		(2,498,361	)

Total Other Financial Instruments	$	192,411		$	(234,012	)	$	—	$	(41,601	)

* Future, forward contracts and swap contracts are valued at the unrealized appreciation (depreciation) on the instruments.

For the period ended July 31, 2021, there were no transfers in or out of Level 3.

For information regarding the Fund’s policy regarding valuation of investments and other significant accounting policies, please refer to the Fund’s most recent financial statements.

WHG-QH-019-1300


THE ADVISORS’ INNER CIRCLE FUND		WESTWOOD INCOME OPPORTUNITY FUND
		JULY 31, 2021 (Unaudited)


SCHEDULE OF INVESTMENTS
COMMON STOCK — 37.5%

	Shares		Value

COMMUNICATION SERVICES — 1.2%
Alphabet, Cl C *		1,065	$	2,880,207
AT&T		269,581		7,561,747
				10,441,954

CONSUMER DISCRETIONARY — 6.9%
Alibaba Group Holding ADR *		30,667		5,985,892
Amazon.com *		5,230		17,403,296
General Motors *		158,513		9,009,879
Home Depot		35,210		11,555,570
Lennar, Cl A		120,289		12,648,388
Toll Brothers		68,784		4,076,828
				60,679,853

CONSUMER STAPLES — 0.9%
Colgate-Palmolive		94,242		7,492,239

ENERGY — 4.3%
Baker Hughes, Cl A		433,232		9,201,848
Energy Transfer		1,276,192		12,583,253
Exxon Mobil		213,759		12,306,105
Plains All American Pipeline LP		339,185		3,395,242
				37,486,448

FINANCIALS — 6.1%
Annaly Capital Management ‡		989,433		8,400,286
Bank of America		87,380		3,351,897
Charles Schwab		63,341		4,304,021
Citigroup		114,258		7,726,126
JPMorgan Chase		51,355		7,794,662
Natwest Group ADR		993,984		5,556,371
Sumitomo Mitsui Financial Group ADR .		1,041,402		7,019,049
Zions Bancorp		178,234		9,294,903
				53,447,315

HEALTH CARE — 4.0%
AbbVie		98,072		11,405,774
Becton Dickinson		24,081		6,158,715
Gilead Sciences		114,125		7,793,596
Medtronic PLC		74,467		9,778,262
				35,136,347

INDUSTRIALS — 2.9%
Honeywell International		42,930		10,036,605
Republic Services, Cl A		61,524		7,281,981
Union Pacific		35,190		7,698,164
				25,016,750

INFORMATION TECHNOLOGY — 5.6%
Apple		122,823		17,914,963
Micron Technology		82,033		6,364,120
Microsoft		55,676		15,862,649
PayPal Holdings *		31,288		8,620,783
				48,762,515

MATERIALS — 2.9%
Barrick Gold		384,552		8,371,697
Freeport-McMoRan		454,725		17,325,022
				25,696,719

REAL ESTATE — 2.1%
Host Hotels & Resorts *‡		221,739		3,532,302


COMMON STOCK — continued

	Shares		Value

REAL ESTATE — continued
Regency Centers ‡		131,653	$	8,611,423
Simon Property Group ‡		52,709		6,668,743
				18,812,468

UTILITIES — 0.6%
Atlantica Sustainable Infrastructure PLC		136,299		5,419,248

Total Common Stock (Cost $243,362,117)				328,391,856


CORPORATE OBLIGATIONS —29.2%

	Face Amount

COMMUNICATION SERVICES — 2.2%
Activision Blizzard
2.500%, 09/15/50	$	361,000		329,585
AT&T
3.300%, 02/01/52		5,861,000		5,854,149
Comcast
0.250%, 05/20/27		3,000,000		3,615,765
DIRECTV Holdings
5.875%, 08/15/27 (A)		598,000		618,272
Verizon Communications
3.550%, 03/22/51		811,000		882,383
3.400%, 03/22/41		811,000		876,302
Vodafone Group
4.875%, 06/19/49		5,627,000		7,176,686
				19,353,142

CONSUMER DISCRETIONARY — 3.8%
7-Eleven
0.950%, 02/10/26 (A)		2,170,000		2,148,626
Amazon.com
3.100%, 05/12/51		2,347,000		2,528,300
Anheuser-Busch InBev Worldwide
5.550%, 01/23/49		4,896,000		6,877,080
Carnival
11.500%, 04/01/23 (A)		39,000		43,972
Ford Motor
8.500%, 04/21/23		414,000		459,635
Ford Motor Credit
4.271%, 01/09/27		9,953,000		10,721,372
Genuine Parts
1.875%, 11/01/30		390,000		384,577
Marriott International
4.625%, 06/15/30		1,581,000		1,830,689
Ross Stores
4.600%, 04/15/25		6,085,000		6,849,121
Whirlpool
4.600%, 05/15/50		1,180,000		1,501,205
				33,344,577

CONSUMER STAPLES — 1.5%
Altria Group
2.450%, 02/04/32		2,077,000		2,044,690
Smithfield Foods
3.000%, 10/15/30 (A)		2,799,000		2,861,371
Vector Group
5.750%, 02/01/29 (A)		3,727,000		3,782,905
Viterra Finance BV
2.000%, 04/21/26 (A)		4,528,000		4,586,394
				13,275,360


THE ADVISORS’ INNER CIRCLE FUND		WESTWOOD INCOME OPPORTUNITY FUND
		JULY 31, 2021 (Unaudited)


CORPORATE OBLIGATIONS — continued

	Face Amount		Value

ENERGY — 2.0%
BP Capital Markets America 3.543%, 04/06/27 3.379%, 02/08/61	$	4,159,000 1,521,000	$	4,629,563 1,581,443
Diamondback Energy 3.125%, 03/24/31		1,159,000		1,216,686
Gray Oak Pipeline 3.450%, 10/15/27 (A)		420,000		446,267
MPLX 2.650%, 08/15/30		728,000		747,386
NGL Energy Operating 7.500%, 02/01/26 (A)		3,313,000		3,404,108
Oasis Petroleum 6.375%, 06/01/26 (A)		2,875,000		2,975,625
Schlumberger Finance Canada 1.400%, 09/17/25		1,001,000		1,018,917
Transcontinental Gas Pipe Line 3.250%, 05/15/30		892,000		972,710
				16,992,705

FINANCIALS — 8.8%
Aircastle 5.250%, 08/11/25 (A)		4,209,000		4,742,263
Ally Financial 1.450%, 10/02/23		382,000		387,876
Apollo Management Holdings 2.650%, 06/05/30 (A)		4,034,000		4,150,208
Bank of America MTN
2.456%, VAR ICE LIBOR USD 3 Month+0.870%, 10/22/25		5,253,000		5,504,480
Barclays 4.375%, 01/12/26		9,743,000		10,988,642
Berkshire Hathaway Finance 2.850%, 10/15/50		1,906,000		1,953,489
BNP Paribas
4.625%, VAR US Treas Yield Curve Rate T Note Const Mat 5 Yr+3.340%, 08/25/69 (A)(D)		4,146,000		4,311,011
Capital One Financial 2.600%, 05/11/23		1,228,000		1,273,509
Compass Group Diversified Holdings 5.250%, 04/15/29 (A)		5,893,000		6,113,133
Goldman Sachs Group
2.615%, VAR United States Secured Overnight Financing Rate+1.281%, 04/22/32		822,000		851,886
HSBC Holdings
2.099%, VAR United States Secured Overnight Financing Rate+1.929%, 06/04/26		1,999,000		2,063,905
0.976%, VAR United States Secured Overnight Financing Rate+0.708%, 05/24/25		1,125,000		1,127,971
Intesa Sanpaolo 4.198%, 06/01/32 (A)		2,890,000		2,974,053
JPMorgan Chase
3.328%, VAR United States Secured Overnight Financing Rate+1.580%, 04/22/52		10,392,000		11,294,974
Mitsubishi UFJ Financial Group
0.953%, VAR US Treas Yield Curve Rate T Note Const Mat 1 Yr+0.550%, 07/19/25		5,075,000		5,105,339
Morgan Stanley MTN
0.791%, VAR United States Secured Overnight Financing Rate+0.509%, 01/22/25		6,718,000		6,728,816


CORPORATE OBLIGATIONS — continued

	Face Amount		Value

FINANCIALS — continued
Nomura Holdings 2.679%, 07/16/30	$	250,000	$	256,099
Starwood Property Trust 3.625%, 07/15/26 (A)		480,000		487,800
Unum Group 4.125%, 06/15/51		5,315,000		5,418,140
Wells Fargo
3.900%, VAR US Treas Yield Curve Rate T Note Const Mat 5 Yr+3.453%, 03/15/70		1,044,000		1,083,818
				76,817,412

HEALTH CARE — 3.1%
Amgen 3.150%, 02/21/40		8,387,000		8,972,386
Bristol-Myers Squibb 3.200%, 06/15/26		5,628,000		6,197,896
HCA 3.500%, 07/15/51		5,571,000		5,752,155
Royalty Pharma 3.550%, 09/02/50 (A)		1,915,000		1,943,223
Tenet Healthcare 6.250%, 02/01/27 (A)		3,975,000		4,138,969
				27,004,629

INDUSTRIALS — 1.8%
AerCap Ireland Capital DAC 6.500%, 07/15/25		1,184,000		1,386,025
Delta Air Lines 7.375%, 01/15/26		1,008,000		1,186,629
Flowserve 3.500%, 10/01/30		1,867,000		1,985,292
GE Capital Funding 3.450%, 05/15/25		6,663,000		7,267,649
Southwest Airlines 5.250%, 05/04/25		3,524,000		4,023,087
				15,848,682

INFORMATION TECHNOLOGY — 4.6%
Citrix Systems 3.300%, 03/01/30		16,369,000		17,427,073
Dell International 8.350%, 07/15/46		3,980,000		6,515,050
International Business Machines 3.500%, 05/15/29		7,143,000		8,031,788
Jabil 1.700%, 04/15/26		2,909,000		2,951,381
Microchip Technology 2.670%, 09/01/23		1,266,000		1,315,019
Oracle 2.875%, 03/25/31		779,000		824,234
VMware 4.700%, 05/15/30		2,911,000		3,500,631
				40,565,176

MATERIALS — 0.7%
FMC 4.500%, 10/01/49		3,734,000		4,599,825
Glencore Funding 3.875%, 04/27/51 (A)		1,342,000		1,458,186
				6,058,011

REAL ESTATE — 0.7%
Crown Castle International 2.900%, 04/01/41		2,407,000		2,375,866


THE ADVISORS’ INNER CIRCLE FUND		WESTWOOD INCOME OPPORTUNITY FUND
		JULY 31, 2021 (Unaudited)


CORPORATE OBLIGATIONS — continued

	Face Amount		Value

REAL ESTATE — continued
Simon Property Group 3.800%, 07/15/50	$	1,843,000	$	2,097,628
Vornado Realty 3.400%, 06/01/31		1,757,000		1,854,561
				6,328,055

Total Corporate Obligations (Cost $239,613,567)				255,587,749

U.S. TREASURY OBLIGATIONS —17.3%

U.S. Treasury Bond 1.875%, 02/15/51		4,335,000		4,304,520

U.S. Treasury Inflation Indexed Bonds 0.875%, 01/15/29 0.250%, 07/15/29 0.125%, 07/15/24		10,392,440 16,446,751 12,757,639		12,346,030 18,810,971 13,803,914
				44,960,915

U.S. Treasury Notes 0.750%, 03/31/26 0.375%, 01/31/26 0.250%, 05/15/24 0.250%, 06/15/24 0.125%, 04/30/23 0.125%, 05/31/23 0.125%, 06/30/23		15,000,000 14,615,000 17,000,000 16,905,000 2,000,000 21,650,000 15,000,000		15,067,383 14,449,440 16,969,453 16,868,020 1,998,750 21,635,623 14,988,867
				101,977,536

Total U.S. Treasury Obligations (Cost $145,967,436)				151,242,971

PREFERRED STOCK — 8.6%

	Shares

COMMUNICATION SERVICES — 0.9%
2020 Cash Mandatory Exchangeable Trust, 5.250% *		6,575		8,241,368

FINANCIALS — 4.3%
Charles Schwab, 5.375% , VAR US Treas Yield Curve Rate T Note Const Mat 5 Yr+4.971%		805,000		898,943
Citigroup, 5.900% , VAR ICE LIBOR USD 3 Month+4.230%		4,784,000		5,020,330
KKR, 6.000% *		86,350		7,170,504
Morgan Stanley, 3.736% , VAR ICE LIBOR USD 3 Month+3.610%		5,332,000		5,353,328
Truist Financial, 5.050% , VAR ICE LIBOR USD 3 Month+3.102%		5,483,000		5,626,874
US Bancorp, Ser B, 3.500% , VAR ICE LIBOR USD 3 Month+0.600%		306,862		7,739,060
Wells Fargo, 5.850% , VAR ICE LIBOR USD 3 Month+3.090%		214,711		5,818,668
				37,627,707

HEALTH CARE — 1.0%
Boston Scientific, 5.500% *		68,665		8,436,182

UTILITIES — 2.4%
AES, 6.875%		60,310		6,114,228
American Electric Power, 6.125% *		146,780		7,789,614


PREFERRED STOCK — continued

	Shares		Value

UTILITIES — continued
Southern, 4.950%		269,930	$	7,239,523
				21,143,365

Total Preferred Stock (Cost $66,808,699)				75,448,622

CONVERTIBLE BONDS —3.3%

	Face Amount

CONSUMER DISCRETIONARY — 0.2%
Peloton Interactive 0.000%, 02/15/26 (A) (B)	$	2,290,000		2,172,638


HEALTH CARE — 0.9%
Exact Sciences 0.375%, 03/15/27		6,523,000		7,892,830


INDUSTRIALS — 0.8%
Southwest Airlines 1.250%, 05/01/25		5,086,000		7,454,169


INFORMATION TECHNOLOGY — 0.9%
Akamai Technologies 0.125%, 05/01/25		5,733,000		7,656,421


REAL ESTATE — 0.5%
Pebblebrook Hotel Trust 1.750%, 12/15/26		3,785,000		4,218,382

Total Convertible Bonds (Cost $25,055,705)				29,394,440

SOVEREIGN DEBT —1.1%

Mexico Government International Bonds
3.771%, 05/24/61		835,000		776,550
2.659%, 05/24/31		890,000		875,333
				1,651,883
Panama Government International Bond
3.870%, 07/23/60		508,000		524,800

Peruvian Government International Bonds
3.300%, 03/11/41		749,000		730,275
2.783%, 01/23/31		735,000		737,859
				1,468,134

Saudi Government International Bond
2.250%, 02/02/33(A)		5,835,000		5,726,527

Total Sovereign Debt (Cost $9,529,797)				9,371,344

U.S. GOVERNMENT AGENCY MORTGAGE-BACKED OBLIGATIONS —0.9%

FHLMC
3.000%, 03/01/50		2,125,629		2,229,487
3.000%, 04/01/50		3,259,294		3,418,863


THE ADVISORS’ INNER CIRCLE FUND		WESTWOOD INCOME OPPORTUNITY FUND
		JULY 31, 2021 (Unaudited)


U.S. GOVERNMENT AGENCY MORTGAGE-BACKED OBLIGATIONS — continued

	Face Amount		Value
FNMA
3.500%, 07/01/49	$	2,151,825	$	2,279,159
Total U.S. Government Agency Mortgage-Backed Obligations (Cost $7,739,033)				7,927,509


SHORT-TERM INVESTMENT— 1.8%

	Shares

SEI Daily Income Trust, Government Fund, Cl F, 0.010% (C) (Cost $15,961,561)		15,961,561		15,961,561

Total Investments — 99.7% (Cost $754,037,915)			$	873,326,052

Percentages are based upon Net Assets of $875,936,850.

*	Non-income producing security.

‡	Real Estate Investment Trust.

(A)

(B)	Zero coupon security. The rate reported is the effective yield at the time of purchase.

(C)	The rate reported is the 7-day effective yield as of July 31, 2021.

(D)	Perpetual security with no stated maturity date.

ADR — American Depository Receipt

Cl — Class

DAC — Designated Activity Company

FHLMC — Federal Home Loan Mortgage Corporation

FNMA — Federal National Mortgage Association

ICE — Intercontinental Exchange

LIBOR — London Interbank Offered Rate

LP — Limited Partnership

MTN — Medium Term Note

PLC — Public Limited Company

Ser — Series

USD — U.S. Dollar

VAR — Variable Rate

The following is a summary of the inputs used as of July 31, 2021 when valuing the Fund’s investments:


Investments in Securities	Level 1		Level 2		Level 3		Total
Common Stock	$	328,391,856	$	—	$	—	$	328,391,856
Corporate Obligations		—		255,587,749		—		255,587,749
U.S. Treasury Obligations		—		151,242,971		—		151,242,971
Preferred Stock		75,448,622		—		—		75,448,622
Convertible Bonds		—		29,394,440		—		29,394,440
Sovereign Debt		—		9,371,344		—		9,371,344
U.S. Government Agency Mortgage- Backed Obligations		—		7,927,509		—		7,927,509
Short-Term Investment		15,961,561		—		—		15,961,561

Total Investments in Securities	$	419,802,039	$	453,524,013	$	—	$	873,326,052

For the period ended July 31, 2021, there were no transfers in or out of Level 3.

For information regarding the Fund’s policy regarding valuation of investments and other significant accounting policies, please refer to the Fund’s most recent financial statements.

WHG-QH-005-2900


THE ADVISORS’ INNER CIRCLE FUND		WESTWOOD QUALITY SMIDCAP FUND
		JULY 31, 2021 (Unaudited)


SCHEDULE OF INVESTMENTS
COMMON STOCK — 97.9%

	Shares		Value

COMMUNICATION SERVICES — 2.7%
Madison Square Garden Entertainment *		79,811	$	5,583,577
Radius Global Infrastructure, Cl A *		220,220		3,375,973
				8,959,550

CONSUMER DISCRETIONARY — 14.1%
1-800-Flowers.com, Cl A *		149,195		4,550,447
Academy Sports & Outdoors *		89,394		3,312,048
Callaway Golf *		102,193		3,237,474
Columbia Sportswear		49,703		4,951,413
Dana		294,676		7,119,372
Holley *		332,225		3,913,611
Jack in the Box		61,157		6,657,551
Skechers USA, Cl A *		70,361		3,776,978
Sonic Automotive, Cl A		68,862		3,756,422
WW International *		193,597		5,951,172
				47,226,488

CONSUMER STAPLES — 3.7%
J & J Snack Foods		38,522		6,332,246
Nomad Foods *		234,320		6,120,439
				12,452,685

ENERGY — 3.2%
ChampionX *		210,875		4,900,735
Diamondback Energy		38,556		2,973,824
PDC Energy		68,820		2,721,831
				10,596,390

FINANCIALS — 21.7%
Ares Management, Cl A		52,883		3,786,952
BOK Financial		99,154		8,329,928
Evercore, Cl A		22,843		3,019,844
Everest Re Group		26,530		6,707,580
International General Insurance Holdings		355,531		3,228,221
MGIC Investment		239,313		3,312,092
Moelis, Cl A		58,999		3,495,691
Perella Weinberg Partners *		378,929		4,619,144
Pinnacle Financial Partners		76,640		6,867,710
Simmons First National, Cl A		235,656		6,414,556
South State		30,094		2,071,671
Veritex Holdings		196,622		6,596,668
Voya Financial		107,499		6,922,936
Western Alliance Bancorp		45,594		4,232,035
Wintrust Financial		45,146		3,223,424
				72,828,452

HEALTH CARE — 7.3%
Aveanna Healthcare Holdings *		267,753		2,768,566
Envista Holdings *		95,086		4,096,305
Hill-Rom Holdings		56,770		7,860,374
Integra LifeSciences Holdings *		60,363		4,369,678
Merit Medical Systems *		77,844		5,456,086
				24,551,009

INDUSTRIALS — 13.5%
AZZ		64,005		3,391,625
Builders FirstSource *		154,374		6,869,643
Encore Wire		83,741		6,567,807
Hubbell, Cl B		26,710		5,354,286


COMMON STOCK — continued

	Shares		Value

INDUSTRIALS — continued
Huntington Ingalls Industries		16,036	$	3,289,465
KAR Auction Services *		382,462		6,302,974
Knight-Swift Transportation Holdings, Cl A		66,821		3,320,335
Masonite International *		44,032		4,982,661
Middleby *		27,676		5,299,677
				45,378,473

INFORMATION TECHNOLOGY — 9.7%
ADTRAN		123,298		2,763,108
Amkor Technology		273,355		6,735,467
CACI International, Cl A *		25,649		6,847,257
Sabre *		544,761		6,422,732
Science Applications International		37,700		3,291,210
Viavi Solutions *		387,724		6,471,114
				32,530,888

MATERIALS — 7.0%
Eagle Materials		35,225		4,977,997
Huntsman		251,635		6,645,680
Livent *		341,805		6,668,616
PQ Group Holdings		336,143		5,230,385
				23,522,678

REAL ESTATE — 10.7%
Alexander & Baldwin ‡		181,683		3,637,294
Americold Realty Trust ‡		170,596		6,627,655
Hudson Pacific Properties ‡		240,840		6,565,298
National Retail Properties ‡		122,668		5,994,785
STAG Industrial ‡		169,699		7,011,963
Urban Edge Properties ‡		309,959		5,889,221
				35,726,216

UTILITIES — 4.3%
Alliant Energy		58,401		3,418,211
IDACORP		73,678		7,769,345
NorthWestern		54,943		3,405,917
				14,593,473

Total Common Stock (Cost $281,942,477)				328,366,302

SHORT-TERM INVESTMENT — 1.7%

SEI Daily Income Trust, Government Fund, Cl F, 0.010% (A) (Cost $5,802,766)		5,802,766		5,802,766

Total Investments — 99.6% (Cost $287,745,243)			$	334,169,068

Percentages are based upon Net Assets of $335,412,301.

*	Non-income producing security.

‡	Real Estate Investment Trust.

(A)	The rate reported is the 7-day effective yield as of July 31, 2021.

Cl — Class

As of July 31, 2021, all of the Fund’s investments were considered Level 1, in accordance with the authoritative guidance on fair value measurements and disclosure under U.S. generally accepted accounting principles.


THE ADVISORS’ INNER CIRCLE FUND		WESTWOOD QUALITY SMIDCAP FUND
		JULY 31, 2021 (Unaudited)

For the period ended July 31, 2021 , there were no transfers in or out of Level 3.

For information regarding the Fund’s policy regarding valuation of investments and other significant accounting policies, please refer to the Fund’s most recent financial statements.

WHG-QH-006-3000


THE ADVISORS’ INNER CIRCLE FUND		WESTWOOD QUALITY VALUE FUND
		JULY 31, 2021 (Unaudited)


SCHEDULE OF INVESTMENTS
COMMON STOCK — 98.4%

	Shares		Value

COMMUNICATION SERVICES — 7.5%
Activision Blizzard		58,106	$	4,858,824
Alphabet, Cl A *		1,218		3,281,938
T-Mobile US *		25,906		3,730,982
Walt Disney *		16,824		2,961,360
				14,833,104

CONSUMER DISCRETIONARY — 10.4%
Dollar General		17,075		3,972,328
General Motors *		84,211		4,786,553
Home Depot		12,559		4,121,738
Mohawk Industries *		20,485		3,992,526
Ross Stores		31,602		3,877,250
				20,750,395

CONSUMER STAPLES — 5.4%
PepsiCo		28,022		4,398,053
Walmart		44,240		6,306,412
				10,704,465

ENERGY — 6.9%
Chevron		30,177		3,072,320
ConocoPhillips		72,457		4,061,939
EOG Resources		46,368		3,378,373
Valero Energy		48,441		3,244,094
				13,756,726

FINANCIALS — 18.9%
American International Group		86,031		4,073,568
Bank of America		99,571		3,819,544
Berkshire Hathaway, Cl B *		17,105		4,760,150
Capital One Financial		23,924		3,868,511
Charles Schwab		78,522		5,335,570
Goldman Sachs Group		13,247		4,966,035
Intercontinental Exchange		33,017		3,956,427
PNC Financial Services Group		20,811		3,796,134
Western Alliance Bancorp		31,637		2,936,546
				37,512,485

HEALTH CARE — 13.6%
Becton Dickinson		25,265		6,461,523
CVS Health		73,383		6,043,824
McKesson		20,009		4,078,434
Medtronic PLC		40,738		5,349,307
UnitedHealth Group		12,339		5,086,383
				27,019,471

INDUSTRIALS — 11.6%
Eaton PLC		37,906		5,991,043
Honeywell International		17,735		4,146,266
L3Harris Technologies		17,561		3,981,781
Middleby *		27,106		5,190,528
Union Pacific		17,133		3,748,015
				23,057,633

INFORMATION TECHNOLOGY — 14.3%
ASML Holding, Cl G		8,358		6,408,413
Cisco Systems		111,487		6,173,035
Microchip Technology		19,977		2,859,108
Micron Technology		51,573		4,001,033
Microsoft		17,389		4,954,300


COMMON STOCK — continued

	Shares		Value

INFORMATION TECHNOLOGY — continued
Visa, Cl A		16,725	$	4,120,873
				28,516,762

MATERIALS — 1.8%
Freeport-McMoRan		94,831		3,613,061

REAL ESTATE — 4.1%
Alexandria Real Estate Equities ‡		11,684		2,352,457
Prologis ‡		30,776		3,940,559
Public Storage ‡		6,220		1,943,626
				8,236,642

UTILITIES — 3.9%
DTE Energy		33,777		3,962,718
Nextera Energy		47,784		3,722,374
				7,685,092

Total Common Stock (Cost $144,7 43,987)				195,685,836

SHORT-TERM INVESTMENT— 0.7%

SEI Daily Income Trust, Government Fund, Cl F, 0.010% (A) (Cost $1,423,273)		1,423,273		1,423,273

Total Investments — 99.1% (Cost $146,167,260)			$	197,109,109

Percentages are based upon Net Assets of $198,979,304.

*	Non-income producing security.

‡	Real Estate Investment Trust.

(A)	The rate reported is the 7-day effective yield as of July 31, 2021.

Cl — Class

PLC — Public Limited Company

For the period ended July 31, 2021, there were no transfers in or out of Level 3.

For information regarding the Fund’s policy regarding valuation of investments and other significant accounting policies, please refer to the Fund’s most recent financial statements.

WHG-QH-007-3000


THE ADVISORS’ INNER CIRCLE FUND		WESTWOOD QUALITY SMALLCAP FUND
		JULY 31, 2021 (Unaudited)


SCHEDULE OF INVESTMENTS
COMMON STOCK — 98.8%

	Shares		Value

COMMUNICATION SERVICES — 1.0%
Radius Global Infrastructure, Cl A *		714,432	$	10,952,243

CONSUMER DISCRETIONARY — 14.6%
Academy Sports & Outdoors *		323,724		11,993,974
Bloomin’ Brands *		421,246		10,585,912
Century Communities		307,848		21,380,044
Chuy’s Holdings *		315,970		10,427,010
Jack in the Box		193,260		21,038,284
Monro		377,239		21,879,862
Oxford Industries		41,791		3,632,892
Papa John’s International		96,750		11,041,110
Sonic Automotive, Cl A		445,473		24,300,552
WW International *		616,006		18,936,024
				155,215,664

CONSUMER STAPLES — 5.9%
Central Garden & Pet, Cl A *		482,753		20,908,032
Hostess Brands, Cl A *		1,333,687		21,459,024
J & J Snack Foods		126,297		20,760,701
				63,127,757

ENERGY — 3.0%
Brigham Minerals, Cl A		528,179		10,373,436
PDC Energy		528,350		20,896,242
				31,269,678

FINANCIALS — 22.3%
Argo Group International Holdings		370,290		19,303,218
Columbia Banking System		606,549		21,192,822
Great Western Bancorp		667,789		20,567,901
Hilltop Holdings		295,003		9,345,695
James River Group Holdings		425,017		15,462,118
Moelis, Cl A		347,647		20,598,085
Perella Weinberg Partners *		660,653		8,053,360
Piper Sandler		168,956		20,729,211
Provident Financial Services		486,977		10,518,703
Renasant		529,778		18,637,590
Sandy Spring Bancorp		492,849		20,497,590
Simmons First National, Cl A		729,516		19,857,426
Trustmark		368,201		11,053,394
Veritex Holdings		617,875		20,729,706
				236,546,819

HEALTH CARE — 6.0%
Aveanna Healthcare Holdings *		848,168		8,770,057
CONMED		151,610		20,913,084
Merit Medical Systems *		328,160		23,000,734
Patterson		366,986		11,424,274
				64,108,149

INDUSTRIALS — 19.8%
Alamo Group		69,832		10,249,243
Altra Industrial Motion		341,324		21,394,188
AZZ		217,256		11,512,396
Columbus McKinnon		233,941		10,854,862
Comfort Systems USA		286,046		21,381,938
Encore Wire		141,880		11,127,648
Federal Signal		563,245		22,310,135
Griffon		461,491		10,669,672
Healthcare Services Group		672,783		17,559,636
Kaman		234,660		10,407,171


COMMON STOCK — continued

	Shares		Value

INDUSTRIALS — continued
Masonite International *		195,464	$	22,118,706
Moog, Cl A		258,807		20,153,301
UFP Industries		284,673		21,139,817
				210,878,713

INFORMATION TECHNOLOGY — 6.9%
ADTRAN		190,192		4,262,203
Amkor Technology		1,004,222		24,744,030
Repay Holdings, Cl A *		903,499		22,506,160
Viavi Solutions *		1,283,425		21,420,363
				72,932,756

MATERIALS — 7.0%
Avient		452,774		21,968,595
Innospec		121,601		10,755,608
Livent *		545,535		10,643,388
PQ Group Holdings		690,799		10,748,832
Stepan		173,365		20,448,402
				74,564,825

REAL ESTATE — 7.3%
Community Healthcare Trust ‡		212,264		10,577,115
National Storage Affiliates Trust ‡		404,439		21,908,461
Plymouth Industrial ‡		570,179		13,159,732
PotlatchDeltic ‡		204,928		10,643,960
Summit Hotel Properties *‡		1,240,397		11,175,977
Urban Edge Properties ‡		550,030		10,450,570
				77,915,815

UTILITIES — 5.0%
Avista		497,416		21,304,327
NorthWestern		346,998		21,510,406
South Jersey Industries		401,527		10,106,435
				52,921,168

Total Common Stock (Cost $850,300,260)				1,050,433,587

SHORT-TERM INVESTMENT — 1.3%

SEI Daily Income Trust, Government Fund, Cl F, 0.010% (A) (Cost $14,426,515)		14,426,515		14,426,515

Total Investments — 100.1% (Cost $864,726,775)			$	1,064,860,102

Percentages are based upon Net Assets of $1,063,577,339.

*	Non-income producing security.

‡	Real Estate Investment Trust.

(A)	The rate reported is the 7-day effective yield as of July 31, 2021.

Cl — Class

For the period ended July 31, 2021, there were no transfers in or out of Level 3.


THE ADVISORS’ INNER CIRCLE FUND		WESTWOOD QUALITY SMALLCAP FUND
		JULY 31, 2021 (Unaudited)

For information regarding the Fund’s policy regarding valuation of investments and other significant accounting policies, please refer to the Fund’s most recent financial statements.

WHG-QH-009-3000


THE ADVISORS’ INNER CIRCLE FUND		WESTWOOD TOTAL RETURN FUND
		JULY 31, 2021 (Unaudited)


SCHEDULE OF INVESTMENTS
COMMON STOCK — 43.9%

	Shares		Value

COMMUNICATION SERVICES — 1.7%
Alphabet, Cl A *		910	$	2,452,022

CONSUMER DISCRETIONARY — 7.4%
Alibaba Group Holding ADR *		4,831		942,963
Amazon.com *		683		2,272,744
General Motors *		34,067		1,936,368
Home Depot		3,114		1,021,984
Jack in the Box		10,059		1,095,023
Lennar, Cl A		12,752		1,340,873
McDonald’s		5,681		1,378,835
Tesla *		712		489,287
				10,478,077

CONSUMER STAPLES — 1.9%
Colgate-Palmolive		14,033		1,115,623
Herbalife *		30,789		1,568,392
				2,684,015

ENERGY — 3.1%
Energy Transfer		276,500		2,726,290
Exxon Mobil		15,851		912,542
Oasis Petroleum		8,638		792,191
				4,431,023

FINANCIALS — 7.4%
Annaly Capital Management ‡		171,231		1,453,751
Bank of America		66,767		2,561,182
Chubb		4,916		829,526
Citigroup		17,556		1,187,137
JPMorgan Chase		9,918		1,505,354
Natwest Group ADR		150,318		840,278
Wells Fargo		20,999		964,694
Zions Bancorp		21,696		1,131,446
				10,473,368

HEALTH CARE — 3.4%
AbbVie		10,752		1,250,458
Gilead Sciences		26,279		1,794,593
Johnson & Johnson		3,979		685,184
Medtronic PLC		8,490		1,114,822
				4,845,057

INDUSTRIALS — 1.7%
Honeywell International		5,114		1,195,602
Union Pacific		5,411		1,183,710
				2,379,312

INFORMATION TECHNOLOGY — 9.1%
Amphenol, Cl A		11,908		863,211
Apple		30,530		4,453,106
Cisco Systems		22,650		1,254,130
First Solar *		12,849		1,105,528
Micron Technology		11,501		892,248
Microsoft		9,074		2,585,273
PayPal Holdings *		6,246		1,720,960
				12,874,456

MATERIALS — 3.4%
Freeport-McMoRan		81,297		3,097,416


COMMON STOCK — continued

	Shares		Value

MATERIALS — continued
Sherwin-Williams		5,943	$	1,729,591
				4,827,007

REAL ESTATE — 1.7%
Host Hotels & Resorts *‡		51,435		819,360
Simon Property Group ‡		12,770		1,615,660
				2,435,020

UTILITIES — 3.1%
Atlantica Sustainable Infrastructure PLC		31,953		1,270,451
CMS Energy		10,258		633,842
NextEra Energy Partners		20,387		1,580,604
WEC Energy Group		9,100		856,674
				4,341,571

Total Common Stock (Cost $47,625,698)				62,220,928

CORPORATE OBLIGATIONS —21.8%

	Face Amount

COMMUNICATION SERVICES — 0.3%
DIRECTV Holdings
5.875%, 08/15/27 (A)	$	129,000		133,373
T-Mobile USA
3.375%, 04/15/29		325,000		338,387
				471,760

CONSUMER DISCRETIONARY — 2.6%
Darden Restaurants
4.550%, 02/15/48		690,000		817,642
Ford Motor
9.000%, 04/22/25		1,000,000		1,230,950
Ford Motor Credit
4.271%, 01/09/27		485,000		522,442
Marriott International
4.625%, 06/15/30		167,000		193,375
NCL Finance
6.125%, 03/15/28 (A)		100,000		101,000
NMG Holding
7.125%, 04/01/26 (A)		150,000		160,122
Party City Holdings
8.750%, 02/15/26 (A)		625,000		661,700
				3,687,231

CONSUMER STAPLES — 1.7%
Rite Aid
7.500%, 07/01/25 (A)		1,000,000		1,003,720
Vector Group
5.750%, 02/01/29 (A)		700,000		710,500
Viterra Finance BV
2.000%, 04/21/26 (A)		627,000		635,086
				2,349,306

ENERGY — 2.1%
Diamondback Energy
4.400%, 03/24/51		900,000		1,028,416
NGL Energy Operating
7.500%, 02/01/26 (A)		825,000		847,687
Oasis Petroleum
6.375%, 06/01/26 (A)		900,000		931,500
Range Resources
8.250%, 01/15/29 (A)		50,000		55,360


THE ADVISORS’ INNER CIRCLE FUND		WESTWOOD TOTAL RETURN FUND
		JULY 31, 2021 (Unaudited)


CORPORATE OBLIGATIONS — continued

	Face Amount		Value

ENERGY — continued
Targa Resources Partners 4.000%, 01/15/32 (A)	$	50,000	$	51,685
				2,914,648

FINANCIALS — 7.6%
Aircastle 5.250%, 08/11/25 (A)		510,000		574,615
2.850%, 01/26/28 (A)		1,500,000		1,539,243
Apollo Management Holdings 2.650%, 06/05/30 (A)		446,000		458,848
Ares Capital 3.875%, 01/15/26		1,625,000		1,753,901
Bank of America MTN 4.271%, VAR ICE LIBOR USD 3
Month+1.310%, 07/23/29		470,000		542,872
Bank of New York Mellon MTN 1.600%, 04/24/25		1,000,000		1,029,103
Compass Group Diversified Holdings 5.250%, 04/15/29 (A)		1,121,000		1,162,875
HSBC Holdings 2.099%, VAR United States
Secured Overnight Financing Rate+1.929%, 06/04/26		208,000		214,753
KKR Group Finance VI 3.750%, 07/01/29 (A)		345,000		390,949
Mitsubishi UFJ Financial Group 0.953%, VAR US Treas Yield Curve Rate T Note Const Mat 1 Yr+0.550%, 07/19/25		705,000		709,215
Morgan Stanley MTN 0.791%, VAR United States Secured Overnight Financing Rate+0.509%, 01/22/25		1,085,000		1,086,747
Northern Trust 3.150%, 05/03/29		800,000		893,132
Truist Financial MTN 2.500%, 08/01/24		400,000		422,336
				10,778,589

HEALTH CARE — 2.1%
Bristol-Myers Squibb 3.200%, 06/15/26		800,000		881,009
HCA 3.500%, 07/15/51		879,000		907,583
Royalty Pharma 3.550%, 09/02/50 (A)		243,000		246,581
Tenet Healthcare 6.250%, 02/01/27 (A)		925,000		963,156
				2,998,329

INDUSTRIALS — 2.6%
American Airlines 5.500%, 04/20/26 (A)		250,000		261,562
AP Moller - Maersk 4.500%, 06/20/29 (A)		600,000		701,642
Delta Air Lines 7.375%, 01/15/26		195,000		229,556
Deluxe 8.000%, 06/01/29 (A)		1,000,000		1,092,500
Southwest Airlines 5.250%, 05/04/25		422,000		481,766
Triton Container International 0.800%, 08/01/23 (A)		965,000		964,751
				3,731,777


CORPORATE OBLIGATIONS — continued

	Face Amount		Value

INFORMATION TECHNOLOGY — 0.8%
Ambience Merger Sub 4.875%, 07/15/28 (A)	$	1,000,000	$	1,003,750
Oracle 2.875%, 03/25/31		116,000		122,736
				1,126,486

MATERIALS — 0.8%
Cabot 4.000%, 07/01/29		395,000		434,388
FMC 4.500%, 10/01/49		366,000		450,867
Glencore Funding 3.875%, 04/27/51 (A)		202,000		219,489
				1,104,744

REAL ESTATE — 1.2%
Iron Mountain 5.000%, 07/15/28 (A)		730,000		758,287
Service Properties Trust 5.000%, 08/15/22		516,000		522,961
Simon Property Group 3.800%, 07/15/50		148,000		168,448
Vornado Realty 3.400%, 06/01/31		275,000		290,270
				1,739,966

Total Corporate Obligations (Cost $29,218,084)				30,902,836


CONVERTIBLE BONDS —15.0%

CONSUMER DISCRETIONARY — 3.8%
Dick’s Sporting Goods 3.250%, 04/15/25		575,000		1,765,609
Expedia Group 0.000%, 02/15/26 (A) (B)		345,000		368,115
National Vision Holdings 2.500%, 05/15/25		665,000		1,220,691
Nice 0.000%, 09/15/25 (A) (B)		1,040,000		1,161,305
Peloton Interactive 0.955%, 02/15/26 (A) (B)		960,000		910,800
				5,426,520

CONSUMER STAPLES — 0.7%
Tilray 5.000%, 10/01/23		1,000,000		975,000

HEALTH CARE — 2.3%
CONMED 2.625%, 02/01/24		810,000		1,304,606
Exact Sciences 0.375%, 03/15/27		810,000		980,100
Teladoc Health 1.250%, 06/01/27		925,000		986,328
				3,271,034

INDUSTRIALS — 0.7%
Southwest Airlines 1.250%, 05/01/25		715,000		1,047,922


THE ADVISORS’ INNER CIRCLE FUND		WESTWOOD TOTAL RETURN FUND
		JULY 31, 2021 (Unaudited)


CONVERTIBLE BONDS — continued

	Face Amount		Value
INFORMATION TECHNOLOGY — 5.2%
Akamai Technologies 0.125%, 05/01/25	$	985,000	$	1,315,467
Alarm.com Holdings 0.158%, 01/15/26 (A) (B)		575,000		523,537
Coupa Software 0.375%, 06/15/26		840,000		897,540
FireEye 1.625%, 06/01/35		1,040,000		1,030,854
J2 Global 1.750%, 11/01/26 (A)		1,182,000		1,524,780
MongoDB 0.250%, 01/15/26		550,000		990,688
Workday 0.250%, 10/01/22		645,000		1,043,675
				7,326,541

MATERIALS — 1.8%
Livent 4.125%, 07/15/25		460,000		1,109,750
SSR Mining 2.500%, 04/01/39		1,155,000		1,423,537
				2,533,287

REAL ESTATE — 0.5%
Pebblebrook Hotel Trust 1.750%, 12/15/26		601,000		669,814

Total Convertible Bonds (Cost $17,108,750)				21,250,118


U.S. TREASURY OBLIGATIONS —12.5%

U.S. Treasury Bonds 1.875%, 02/15/51		705,000		700,043
1.250%, 05/15/50		95,000		80,865
				780,908
U.S. Treasury Notes 2.125%, 12/31/21		750,000		756,328
0.875%, 11/15/30		2,075,000		2,014,695
0.750%, 03/31/26		2,586,000		2,597,617
0.500%, 03/31/25		1,200,000		1,200,609
0.500%, 02/28/26		2,000,000		1,987,188
0.250%, 06/15/24		3,500,000		3,492,344
0.125%, 05/31/23		4,900,000		4,896,746
				16,945,527

Total U.S. Treasury Obligations (Cost $17,646,549)				17,726,435


PREFERRED STOCK — 3.6%

	Shares
COMMUNICATION SERVICES — 0.4%
2020 Cash Mandatory Exchangeable Trust, 5.250% *		400		501,376

HEALTH CARE — 0.7%
Boston Scientific, 5.500% *		8,460		1,039,396

INFORMATION TECHNOLOGY — 0.9%
Broadcom, 8.000% *		812		1,254,004

UTILITIES — 1.6%
AES, 6.875%		11,575		1,173,473


PREFERRED STOCK — continued

	Shares		Value

UTILITIES — continued
American Electric Power, 6.125% *		20,275	$	1,075,994
				2,249,467
Total Preferred Stock (Cost $4,425,918)				5,044,243


U.S. GOVERNMENT AGENCY MORTGAGE-BACKED OBLIGATIONS —0.6%

	Face Amount
FHLMC 3.000%, 04/01/50	$	806,407		845,887
Total U.S. Government Agency Mortgage-Backed Obligations (Cost $852,019)				845,887


SOVEREIGN DEBT —0.1%
Peruvian Government International Bonds
3.300%, 03/11/41		94,000		91,650
2.783%, 01/23/31		93,000		93,362
Total Sovereign Debt (Cost $183,965)				185,012


SHORT-TERM INVESTMENT — 2.8%

	Shares
SEI Daily Income Trust, Government Fund, Cl F, 0.010% (C) (Cost $4,000,080)		4,000,080		4,000,080
Total Investments — 100.3% (Cost $121,061,063)			$	142,175,539

Percentages are based upon Net Assets of $141,691,046.

*	Non-income producing security.

‡	Real Estate Investment Trust.

(A)

(B)	Zero coupon security. The rate reported is the effective yield at the time of purchase.

(C)	The rate reported is the 7-day effective yield as of July 31, 2021.

ADR— American Depository Receipt

Cl — Class

FHLMC — Federal Home Loan Mortgage Corporation

ICE — Intercontinental Exchange

LIBOR — London Interbank Offered Rate

MTN — Medium Term Note

PLC — Public Limited Company

USD — U.S. Dollar

VAR — Variable Rate


THE ADVISORS’ INNER CIRCLE FUND		WESTWOOD TOTAL RETURN FUND
		JULY 31, 2021 (Unaudited)

The following is a summary of the inputs used as of July 31, 2021 when valuing the Fund’s investments:


Investments in Securities	Level 1		Level 2		Level 3		Total
Common Stock	$	62,220,928	$	—	$	—	$	62,220,928
Corporate Obligations		—		30,902,836		—		30,902,836
Convertible Bonds		—		21,250,118		—		21,250,118
U.S. Treasury Obligations		—		17,726,435		—		17,726,435
Preferred Stock		5,044,243		—		—		5,044,243
U.S. Government Agency Mortgage-Backed Obligation		—		845,887		—		845,887
Sovereign Debt		—		185,012		—		185,012
Short-Term Investment		4,000,080		—		—		4,000,080

Total Investments in Securities	$	71,265,251	$	70,910,288	$	—	$	142,175,539

For the period ended July 31, 2021, there were no transfers in or out of Level 3.

For information regarding the Fund’s policy regarding valuation of investments and other significant accounting policies, please refer to the Fund’s most recent financial statements.

WHG-QH-010-2200


THE ADVISORS’ INNER CIRCLE FUND		WESTWOOD HIGH INCOME FUND
		JULY 31, 2021 (Unaudited)


SCHEDULE OF INVESTMENTS
CORPORATE OBLIGATIONS — 71.5%

	Face Amount		Value
COMMUNICATION SERVICES — 6.1%
CCO Holdings 5.000%, 02/01/28 (A)	$	1,260,000	$ 1,321,110
Clear Channel Worldwide Holdings 5.125%, 08/15/27 (A)		700,000	718,690
DIRECTV Holdings 5.875%, 08/15/27 (A)		121,000	125,102
Lumen Technologies 7.600%, 09/15/39		625,000	712,263
T-Mobile USA 2.550%, 02/15/31		1,250,000	1,279,563
Zayo Group Holdings 4.000%, 03/01/27 (A)		1,215,000	1,208,925
			5,365,653

CONSUMER DISCRETIONARY — 11.1%
Caesars Entertainment 6.250%, 07/01/25 (A)		1,100,000	1,160,500
Darden Restaurants 4.550%, 02/15/48		790,000	936,141
Ford Motor Credit 4.271%, 01/09/27		1,000,000	1,077,200
G-III Apparel Group 7.875%, 08/15/25 (A)		1,000,000	1,086,250
Guitar Center 8.500%, 01/15/26 (A)		1,000,000	1,066,250
Macy’s 8.375%, 06/15/25 (A)		500,000	545,000
New Albertsons 7.750%, 06/15/26		410,000	467,400
NMG Holding 7.125%, 04/01/26 (A)		500,000	533,740
Nordstrom 2.300%, 04/08/24		325,000	326,199
Party City Holdings 8.750%, 02/15/26 (A)		625,000	661,700
Royal Caribbean Cruises 9.125%, 06/15/23 (A)		950,000	1,033,248
Wynn Las Vegas 4.250%, 05/30/23 (A)		755,000	773,875
			9,667,503

CONSUMER STAPLES — 5.1%
Altria Group 2.450%, 02/04/32		900,000	886,000
B&G Foods 5.250%, 09/15/27		630,000	655,988
Keurig Dr Pepper 3.200%, 05/01/30		607,000	668,477
Rite Aid 7.500%, 07/01/25 (A)		750,000	752,790
Vector Group 5.750%, 02/01/29 (A)		1,000,000	1,015,000
Viterra Finance BV 2.000%, 04/21/26 (A)		428,000	433,520
			4,411,775

ENERGY — 7.4%
Antero Resources 7.625%, 02/01/29 (A)		250,000	273,987
Crestwood Midstream Partners 6.000%, 02/01/29 (A)		1,000,000	1,040,000
Diamondback Energy 3.125%, 03/24/31		125,000	131,222


CORPORATE OBLIGATIONS — continued

	Face Amount		Value
ENERGY — continued
DT Midstream 4.375%, 06/15/31 (A)	$	100,000	$ 103,750
NGL Energy Operating 7.500%, 02/01/26 (A)		1,100,000	1,130,250
Northern Oil and Gas 8.125%, 03/01/28 (A)		1,100,000	1,152,085
Oasis Petroleum 6.375%, 06/01/26 (A)		900,000	931,500
Range Resources 8.250%, 01/15/29 (A)		800,000	885,760
Summit Midstream Holdings 5.750%, 04/15/25		850,000	782,000
			6,430,554

FINANCIALS — 11.3%
Aircastle 5.250%, 08/11/25 (A)		435,000	490,112
Apollo Commercial Real Estate Finance 4.625%, 06/15/29 (A)		850,000	834,062
Ares Capital 3.875%, 01/15/26		1,225,000	1,322,171
Bank of America MTN 4.271%, VAR ICE LIBOR USD 3 Month+1.310%, 07/23/29		605,000	698,804
Compass Group Diversified Holdings 5.250%, 04/15/29 (A)		1,423,000	1,476,156
HSBC Holdings 4.950%, 03/31/30		700,000	851,605
Mitsubishi UFJ Financial Group 0.953%, VAR US Treas Yield Curve Rate T Note Const Mat 1 Yr+0.550%, 07/19/25		435,000	437,600
Morgan Stanley MTN 0.791%, VAR United States Secured Overnight Financing Rate+0.509%, 01/22/25		672,000	673,082
New Residential Investment 6.250%, 10/15/25 (A)		1,000,000	998,750
Owl Rock Capital 3.400%, 07/15/26		780,000	820,001
Prospect Capital 3.364%, 11/15/26		710,000	718,350
Unum Group 4.125%, 06/15/51		514,000	523,974
			9,844,667

HEALTH CARE — 6.7%
Amgen 3.150%, 02/21/40		823,000	880,443
2.450%, 02/21/30		760,000	795,262
CHS 6.625%, 02/15/25 (A)		1,250,000	1,310,737
Emergent BioSolutions 3.875%, 08/15/28 (A)		700,000	695,625
HCA 3.500%, 07/15/51		552,000	569,950
Royalty Pharma 3.550%, 09/02/50 (A)		760,000	771,201
Tenet Healthcare 6.250%, 02/01/27 (A)		800,000	833,000
			5,856,218

INDUSTRIALS — 5.5%
AerCap Ireland Capital DAC 6.500%, 07/15/25		700,000	819,440


THE ADVISORS’ INNER CIRCLE FUND		WESTWOOD HIGH INCOME FUND
		JULY 31, 2021 (Unaudited)


CORPORATE OBLIGATIONS — continued

	Face Amount		Value

INDUSTRIALS — continued
Bombardier 7.875%, 04/15/27 (A)	$	725,000	$	750,556
Delta Air Lines 7.375%, 01/15/26		340,000		400,252
Deluxe 8.000%, 06/01/29 (A)		1,000,000		1,092,500
Icahn Enterprises 5.250%, 05/15/27		825,000		867,281
Triton Container International 0.800%, 08/01/23 (A)		585,000		584,849
United Airlines 4.625%, 04/15/29 (A)		250,000		257,187
				4,772,065

INFORMATION TECHNOLOGY — 10.5%
Ambience Merger Sub 7.125%, 07/15/29 (A)		100,000		101,250
4.875%, 07/15/28 (A)		1,000,000		1,003,750
Broadcom 3.500%, 02/15/41 (A)		500,000		518,968
Citrix Systems 3.300%, 03/01/30		825,000		878,327
CommScope 6.000%, 03/01/26 (A)		940,000		979,950
Dell International 8.350%, 07/15/46		575,000		941,245
NXP BV 2.500%, 05/11/31 (A)		1,000,000		1,036,724
Oracle 2.950%, 04/01/30		1,175,000		1,256,493
Sotheby’s 7.375%, 10/15/27 (A)		1,225,000		1,308,484
VMware 4.650%, 05/15/27		957,000		1,110,899
				9,136,090

MATERIALS — 1.7%
Axalta Coating Systems 4.750%, 06/15/27 (A)		700,000		737,625
Cleveland-Cliffs 6.750%, 03/15/26 (A)		700,000		755,125
				1,492,750

REAL ESTATE — 4.9%
Brixmor Operating Partnership 4.050%, 07/01/30		475,000		541,059
Crown Castle International 2.900%, 04/01/41		263,000		259,598
Host Hotels & Resorts 3.500%, 09/15/30		375,000		398,822
Iron Mountain 5.000%, 07/15/28 (A)		1,020,000		1,059,525
iStar 5.500%, 02/15/26		750,000		783,750
Service Properties Trust 7.500%, 09/15/25		750,000		845,625
Simon Property Group 3.800%, 07/15/50		196,000		223,079
Vornado Realty 3.400%, 06/01/31		181,000		191,051
				4,302,509


CORPORATE OBLIGATIONS — continued

	Face Amount		Value

UTILITIES — 1.2%
TerraForm Power Operating 4.750%, 01/15/30 (A)	$	1,005,000	$ 1,057,763

Total Corporate Obligations (Cost $59,478,016)			62,337,547


COMMON STOCK — 19.1%

	Shares

COMMUNICATION SERVICES — 1.7%
Activision Blizzard		9,512	795,393
AT&T		24,240	679,932
			1,475,325

CONSUMER DISCRETIONARY — 4.0%
Amazon.com *		265	881,811
General Motors *		12,077	686,457
Lennar, Cl A		8,466	890,200
TJX		8,480	583,509
WW International *		14,026	431,159
			3,473,136

CONSUMER STAPLES — 0.8%
Philip Morris International		6,818	682,414

ENERGY — 3.0%
Chevron		3,173	323,043
DT Midstream *		10,514	445,794
Energy Transfer		37,929	373,980
EOG Resources		4,770	347,542
Plains All American Pipeline LP		61,218	612,792
Schlumberger		17,409	501,901
			2,605,052

FINANCIALS — 3.3%
Annaly Capital Management‡		72,968	619,498
Citigroup		10,316	697,568
Moelis, Cl A		12,902	764,443
Truist Financial		15,668	852,809
			2,934,318

HEALTH CARE — 1.4%
AbbVie		4,705	547,192
Gilead Sciences		10,274	701,611
			1,248,803

INFORMATION TECHNOLOGY — 2.6%
Apple		7,307	1,065,799
Cisco Systems		10,194	564,442
Micron Technology		7,834	607,762
			2,238,003

MATERIALS — 0.9%
Barrick Gold		18,103	394,103
Freeport-McMoRan		9,883	376,542
			770,645

REAL ESTATE — 0.8%
National Retail Properties ‡		15,169	741,309


THE ADVISORS’ INNER CIRCLE FUND		WESTWOOD HIGH INCOME FUND
		JULY 31, 2021 (Unaudited)


COMMON STOCK — continued

	Shares		Value

UTILITIES — 0.6%
Atlantica Sustainable Infrastructure PLC		12,538	$ 498,511

Total Common Stock (Cost $13,830,833)			16,667,516


CONVERTIBLE BONDS —3.8%

	Face Amount

CONSUMER DISCRETIONARY — 1.1%
Liberty Media 2.750%, 12/01/49 (A)	$	955,000	998,453

CONSUMER STAPLES — 0.6%
Tilray 5.000%, 10/01/23		500,000	487,500

FINANCIALS — 1.0%
Apollo Commercial Real Estate Finance 5.375%, 10/15/23		850,000	855,312

INDUSTRIALS — 1.1%
SFL 5.750%, 10/15/21		1,000,000	1,008,800

Total Convertible Bonds (Cost $3,149,450)			3,350,065


U.S. TREASURY OBLIGATIONS —2.4%

U.S. Treasury Notes 2.375%, 05/15/29		540,000	592,186
0.125%, 06/30/23		1,500,000	1,498,887

Total U.S. Treasury Obligations (Cost $2,062,360)			2,091,073


U.S. GOVERNMENT AGENCY MORTGAGE-BACKED OBLIGATIONS —0.7%

FHLMC 3.500%, 08/01/49		346,041	366,282
FNMA 3.000%, 05/01/50		283,381	297,025

Total U.S. Government Agency Mortgage-Backed Obligations (Cost $654,900)			663,307


PREFERRED STOCK — 0.7%

	Shares

COMMUNICATION SERVICES — 0.7%
2020 Cash Mandatory Exchangeable Trust, 5.250% *		465	582,850

Total Preferred Stock (Cost $533,411)			582,850


SHORT-TERM INVESTMENT — 1.7%

	Shares		Value
SEI Daily Income Trust, Government Fund, Cl F, 0.010% (B) (Cost $1,481,818)		1,481,818	$ 1,481,818

Total Investments — 99.9% (Cost $81,190,788)			$ 87,174,176

Percentages are based upon Net Assets of $87,220,718.

*	Non-income producing security.

‡	Real Estate Investment Trust.

(A)

(B)	The rate reported is the 7-day effective yield as of July 31, 2021.

Cl — Class

DAC — Designated Activity Company

FHLMC — Federal Home Loan Mortgage Corporation

FNMA — Federal National Mortgage Association

ICE — Intercontinental Exchange

LIBOR — London Interbank Offered Rate

LP — Limited Partnership

MTN — Medium Term Note

PLC — Public Limited Company

USD — U.S. Dollar

VAR — Variable Rate

The following is a summary of the inputs used as of July 31, 2021 when valuing the Fund’s investments:


Investments in Securities	Level 1		Level 2		Level 3		Total
Corporate Obligations	$	—	$	62,337,547	$	—	$	62,337,547
Common Stock		16,667,516		—		—		16,667,516
Convertible Bonds		—		3,350,065		—		3,350,065
U.S. Treasury Obligations		—		2,091,073		—		2,091,073
U.S. Government Agency Mortgage- Backed Obligations		—		663,307		—		663,307
Preferred Stock		582,850		—		—		582,850
Short-Term Investment		1,481,818		—		—		1,481,818

Total Investments in Securities	$	18,732,184	$	68,441,992	$	—	$	87,174,176

For the period ended July 31, 2021, there were no transfers in or out of Level 3.

For information regarding the Fund’s policy regarding valuation of investments and other significant accounting policies, please refer to the Fund’s most recent financial statements.

WHG-QH-012-2000

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