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Form NPORT-P Advisors' Inner Circle For: Mar 31

May 27, 2022 3:59 PM EDT

  
    NPORT-P
    false
    
      
      
        
          0000890540
          XXXXXXXX
        
      
      
      
      
        S000022606
        C000096284
        C000065363
      
      
      
    
  
  
    
      ADVISORS' INNER CIRCLE FUND II
      811-07102
      0000890540
      549300OEHDTB2ALCAX69
      ONE FREEDOM VALLEY DRIVE
      OAKS
      
      19456
      8774463863
      Champlain MidCap Fund
      S000022606
      549300MORBF4R9GFJ039
      2022-12-31
      2022-03-31
      N
    
    
      6763702867.76
      6170804.48
      6757532063.28
      0.00000000
      0.00000000
      0.00000000
      0.00000000
      0.00000000
      0.00000000
      0.00000000
      0.00000000
      0.00000000
      0.00000000
      0.00000000
      0.00000000
      0.00000000
      0.00000000
      N
      
        
          
          
        
        
          
            
            
            
            
              
              
              
            
            
              
              
              
            
            
              
              
              
            
            
              
              
              
            
            
              
              
              
            
            
              
              
              
            
            
              
              
              
            
          
          
            
            
            
            
              
              
              
            
            
              
              
              
            
            
              
              
              
            
            
              
              
              
            
            
              
              
              
            
            
              
              
              
            
            
              
              
              
            
          
          
            
            
            
            
              
              
              
            
            
              
              
              
            
            
              
              
              
            
            
              
              
              
            
            
              
              
              
            
            
              
              
              
            
            
              
              
              
            
          
          
            
            
            
            
              
              
              
            
            
              
              
              
            
            
              
              
              
            
            
              
              
              
            
            
              
              
              
            
            
              
              
              
            
            
              
              
              
            
          
          
            
            
            
            
              
              
              
            
            
              
              
              
            
            
              
              
              
            
            
              
              
              
            
            
              
              
              
            
            
              
              
              
            
            
              
              
              
            
          
          
            
            
            
            
              
              
              
            
            
              
              
              
            
            
              
              
              
            
            
              
              
              
            
            
              
              
              
            
            
              
              
              
            
            
              
              
              
            
          
        
        
        
        
      
      
      
      
    
    
      
        THE J. M. SMUCKER COMPANY
        5493000WDH6A0LHDJD55
        JM SMUCKER CO/THE COMMON STOCK
        832696405
        
          
        
        920000.00000000
        NS
        USD
        124577200.00000000
        1.843531023359
        Long
        EC
        
        US
        
        N
        
        1
        
          N
          N
          N
        
      
      
        HORMEL FOODS CORPORATION
        MSD54751OJP1FS2ND863
        HORMEL FOODS CORP COMMON STOCK
        440452100
        
          
        
        1790000.00000000
        NS
        USD
        92256600.00000000
        1.365241024919
        Long
        EC
        
        US
        
        N
        
        1
        
          N
          N
          N
        
      
      
        INTEGRA LIFESCIENCES HOLDINGS CORPORATION
        WB7IJCYY8YFTENS4O147
        INTEGRA LIFESCIENCES HOLDING COMMON STOCK
        457985208
        
          
        
        1465000.00000000
        NS
        USD
        94140900.00000000
        1.393125465309
        Long
        EC
        
        US
        
        N
        
        1
        
          N
          N
          N
        
      
      
        ARTHUR J. GALLAGHER & CO.
        54930049QLLMPART6V29
        ARTHUR J GALLAGHER & CO COMMON STOCK
        363576109
        
          
        
        1075000.00000000
        NS
        USD
        187695000.00000000
        2.777567287026
        Long
        EC
        
        US
        
        N
        
        1
        
          N
          N
          N
        
      
      
        APTARGROUP, INC.
        VNPEQDQFAA7IY1T2PX43
        APTARGROUP INC COMMON STOCK
        038336103
        
          
        
        970000.00000000
        NS
        USD
        113975000.00000000
        1.686636466282
        Long
        EC
        
        US
        
        N
        
        1
        
          N
          N
          N
        
      
      
        THE COOPER COMPANIES, INC.
        QJKMVPIGLH7530PCUE20
        COOPER COS INC/THE COMMON STOCK
        216648402
        
          
        
        230000.00000000
        NS
        USD
        96045700.00000000
        1.421313270889
        Long
        EC
        
        US
        
        N
        
        1
        
          N
          N
          N
        
      
      
        SYNOPSYS, INC.
        QG7T915N9S0NY5UKNE63
        SYNOPSYS INC COMMON STOCK
        871607107
        
          
        
        280000.00000000
        NS
        USD
        93315600.00000000
        1.380912426698
        Long
        EC
        
        US
        
        N
        
        1
        
          N
          N
          N
        
      
      
        GRACO INC
        4T5VJ4S81BRT6Q7GGT78
        GRACO INC COMMON STOCK
        384109104
        
          
        
        1070000.00000000
        NS
        USD
        74600400.00000000
        1.103959245792
        Long
        EC
        
        US
        
        N
        
        1
        
          N
          N
          N
        
      
      
        THE CLOROX COMPANY
        54930044KVSC06Z79I06
        CLOROX COMPANY COMMON STOCK
        189054109
        
          
        
        760000.00000000
        NS
        USD
        105662800.00000000
        1.563630020701
        Long
        EC
        
        US
        
        N
        
        1
        
          N
          N
          N
        
      
      
        SVB FINANCIAL GROUP
        549300D2KJ20JMXE7542
        SVB FINANCIAL GROUP COMMON STOCK
        78486Q101
        
          
        
        165000.00000000
        NS
        USD
        92309250.00000000
        1.366020155518
        Long
        EC
        
        US
        
        N
        
        1
        
          N
          N
          N
        
      
      
        WATERS CORPORATION
        5T547R1474YC9HOD8Q74
        WATERS CORP COMMON STOCK
        941848103
        
          
        
        530000.00000000
        NS
        USD
        164506700.00000000
        2.434419821607
        Long
        EC
        
        US
        
        N
        
        1
        
          N
          N
          N
        
      
      
        AKAMAI TECHNOLOGIES, INC.
        OC1LZNN2LF5WTJ5RIL89
        AKAMAI TECHNOLOGIES INC COMMON STOCK
        00971T101
        
          
        
        895000.00000000
        NS
        USD
        106854050.00000000
        1.581258497915
        Long
        EC
        
        US
        
        N
        
        1
        
          N
          N
          N
        
      
      
        BIO-TECHNE CORPORATION
        54930073RLKQ51TILZ35
        BIO-TECHNE CORP COMMON STOCK
        09073M104
        
          
        
        265000.00000000
        NS
        USD
        114755600.00000000
        1.698188020794
        Long
        EC
        
        US
        
        N
        
        1
        
          N
          N
          N
        
      
      
        Tradeweb Markets Inc
        N/A
        TRADEWEB MARKETS INC-CLASS A COMMON STOCK
        892672106
        
          
        
        1325000.00000000
        NS
        USD
        116427750.00000000
        1.722933001423
        Long
        EC
        
        US
        
        N
        
        1
        
          N
          N
          N
        
      
      
        PROSPERITY BANCSHARES, INC.
        N/A
        PROSPERITY BANCSHARES INC COMMON STOCK
        743606105
        
          
        
        975000.00000000
        NS
        USD
        67645500.00000000
        1.001038535467
        Long
        EC
        
        US
        
        N
        
        1
        
          N
          N
          N
        
      
      
        OKTA, INC.
        549300N8J06I8MRHU620
        OKTA INC COMMON STOCK
        679295105
        
          
        
        625000.00000000
        NS
        USD
        94350000.00000000
        1.396219790249
        Long
        EC
        
        US
        
        N
        
        1
        
          N
          N
          N
        
      
      
        AMETEK, INC.
        549300WZDEF9KKE40E98
        AMETEK INC COMMON STOCK
        031100100
        
          
        
        1510000.00000000
        NS
        USD
        201101800.00000000
        2.975965161789
        Long
        EC
        
        US
        
        N
        
        1
        
          N
          N
          N
        
      
      
        ABCAM PLC
        213800B9N83DSNT33F79
        ABCAM PLC-SPON ADR DEPOSITARY RECEIPT
        000380204
        
          
        
        1340740.00000000
        NS
        USD
        24522134.60000000
        0.362885952598
        Long
        EC
        
        US
        
        N
        
        1
        
          N
          N
          N
        
      
      
        ROCKWELL AUTOMATION, INC.
        VH3R4HHBHH12O0EXZJ88
        ROCKWELL AUTOMATION INC COMMON STOCK
        773903109
        
          
        
        460000.00000000
        NS
        USD
        128813800.00000000
        1.906225509457
        Long
        EC
        
        US
        
        N
        
        1
        
          N
          N
          N
        
      
      
        LAMB WESTON HOLDINGS, INC.
        5493005SMYID1D2OY946
        LAMB WESTON HOLDINGS INC COMMON STOCK
        513272104
        
          
        
        1160000.00000000
        NS
        USD
        69495600.00000000
        1.028416873929
        Long
        EC
        
        US
        
        N
        
        1
        
          N
          N
          N
        
      
      
        WORKDAY, INC.
        549300J0DYC0N31V7G13
        WORKDAY INC-CLASS A COMMON STOCK
        98138H101
        
          
        
        710000.00000000
        NS
        USD
        170016600.00000000
        2.515956985596
        Long
        EC
        
        US
        
        N
        
        1
        
          N
          N
          N
        
      
      
        PURE STORAGE, INC.
        549300NPDB0BZTK3WO90
        PURE STORAGE INC - CLASS A COMMON STOCK
        74624M102
        
          
        
        4285000.00000000
        NS
        USD
        151303350.00000000
        2.239032661379
        Long
        EC
        
        US
        
        N
        
        1
        
          N
          N
          N
        
      
      
        COSTAR GROUP, INC.
        N/A
        COSTAR GROUP INC COMMON STOCK
        22160N109
        
          
        
        1520000.00000000
        NS
        USD
        101247200.00000000
        1.498286638552
        Long
        EC
        
        US
        
        N
        
        1
        
          N
          N
          N
        
      
      
        MASIMO CORPORATION
        549300Q4A8JK0PIYCU29
        MASIMO CORP COMMON STOCK
        574795100
        
          
        
        440000.00000000
        NS
        USD
        64037600.00000000
        0.947647741813
        Long
        EC
        
        US
        
        N
        
        1
        
          N
          N
          N
        
      
      
        NORTHERN TRUST CORPORATION
        549300GLF98S992BC502
        NORTHERN TRUST CORP COMMON STOCK
        665859104
        
          
        
        850000.00000000
        NS
        USD
        98982500.00000000
        1.464772924095
        Long
        EC
        
        US
        
        N
        
        1
        
          N
          N
          N
        
      
      
        IDEX CORPORATION
        549300U5Y5EL6PHYLF13
        IDEX CORP COMMON STOCK
        45167R104
        
          
        
        595000.00000000
        NS
        USD
        114079350.00000000
        1.688180669092
        Long
        EC
        
        US
        
        N
        
        1
        
          N
          N
          N
        
      
      
        PALO ALTO NETWORKS, INC.
        549300QXR2YVZV231H43
        PALO ALTO NETWORKS INC COMMON STOCK
        697435105
        
          
        
        285000.00000000
        NS
        USD
        177415350.00000000
        2.625445922248
        Long
        EC
        
        US
        
        N
        
        1
        
          N
          N
          N
        
      
      
        CULLEN/FROST BANKERS, INC.
        529900V2E9G9AY665O34
        CULLEN/FROST BANKERS INC COMMON STOCK
        229899109
        
          
        
        460000.00000000
        NS
        USD
        63668600.00000000
        0.942187168389
        Long
        EC
        
        US
        
        N
        
        1
        
          N
          N
          N
        
      
      
        Goldman Sachs Trust: Goldman Sachs Financial Square Treasury Instruments Fund; Institutional Class Shares
        N/A
        GOLDMAN SACHS FIN SQ TR IN-IN FTIXX
        38142B500
        
          
        
        123515906.11000000
        PA
        USD
        123515906.11000000
        1.827825675902
        Long
        STIV
        
        US
        
        N
        
        2
        
          N
          N
          N
        
      
      
        VEEVA SYSTEMS INC.
        549300YZEXPDB92M2F02
        VEEVA SYSTEMS INC-CLASS A COMMON STOCK
        922475108
        
          
        
        505000.00000000
        NS
        USD
        107292300.00000000
        1.587743853751
        Long
        EC
        
        US
        
        N
        
        1
        
          N
          N
          N
        
      
      
        BIO-RAD LABORATORIES, INC.
        549300ZC1GPV35XYDK53
        BIO-RAD LABORATORIES-A COMMON STOCK
        090572207
        
          
        
        130000.00000000
        NS
        USD
        73219900.00000000
        1.083530189932
        Long
        EC
        
        US
        
        N
        
        1
        
          N
          N
          N
        
      
      
        DENTSPLY SIRONA INC.
        9NHEHR1SOZCYXDO8HO28
        DENTSPLY SIRONA INC COMMON STOCK
        24906P109
        
          
        
        2900000.00000000
        NS
        USD
        142738000.00000000
        2.112280025656
        Long
        EC
        
        US
        
        N
        
        1
        
          N
          N
          N
        
      
      
        CLARIVATE Plc
        549300WDHIIODXFO0R55
        Clarivate Plc COMMON STOCK
        G21810109
        
          
        
        4400000.00000000
        NS
        USD
        73744000.00000000
        1.091285979991
        Long
        EC
        
        US
        
        N
        
        1
        
          N
          N
          N
        
      
      
        TRACTOR SUPPLY COMPANY
        549300OJ9VZHZRO6I137
        TRACTOR SUPPLY COMPANY COMMON STOCK
        892356106
        
          
        
        360000.00000000
        NS
        USD
        84013200.00000000
        1.243252702514
        Long
        EC
        
        US
        
        N
        
        1
        
          N
          N
          N
        
      
      
        Maravai LifeSciences Holdings Inc
        N/A
        MARAVAI LIFESCIENCES HLDGS-A COMMON STOCK
        56600D107
        
          
        
        1910000.00000000
        NS
        USD
        67365700.00000000
        0.996897970578
        Long
        EC
        
        US
        
        N
        
        1
        
          N
          N
          N
        
      
      
        FRESHPET, INC.
        549300S4ZK8ZQ6HNPN59
        FRESHPET INC COMMON STOCK
        358039105
        
          
        
        1240000.00000000
        NS
        USD
        127273600.00000000
        1.883433164773
        Long
        EC
        
        US
        
        N
        
        1
        
          N
          N
          N
        
      
      
        EVEREST RE GROUP, LTD.
        549300N24XF2VV0B3570
        EVEREST RE GROUP LTD COMMON STOCK
        G3223R108
        
          
        
        650000.00000000
        NS
        USD
        195897000.00000000
        2.898942959730
        Long
        EC
        
        US
        
        N
        
        1
        
          N
          N
          N
        
      
      
        NUTANIX, INC.
        549300X7J6E8TKVIXW09
        NUTANIX INC - A COMMON STOCK
        67059N108
        
          
        
        3040000.00000000
        NS
        USD
        81532800.00000000
        1.206546994324
        Long
        EC
        
        US
        
        N
        
        1
        
          N
          N
          N
        
      
      
        TERMINIX GLOBAL HOLDINGS, INC.
        549300GS10644JGL8R77
        TERMINIX GLOBAL HOLDINGS INC COMMON STOCK
        88087E100
        
          
        
        1165000.00000000
        NS
        USD
        53158950.00000000
        0.786662194159
        Long
        EC
        
        US
        
        N
        
        1
        
          N
          N
          N
        
      
      
        STERIS PUBLIC LIMITED COMPANY
        N/A
        STERIS PLC COMMON STOCK
        G8473T100
        
          
        
        570000.00000000
        NS
        USD
        137808900.00000000
        2.039337715448
        Long
        EC
        
        US
        
        N
        
        1
        
          N
          N
          N
        
      
      
        MCCORMICK & COMPANY, INCORPORATED
        549300JQQA6MQ4OJP259
        MCCORMICK & CO-NON VTG SHRS COMMON STOCK
        579780206
        
          
        
        1290000.00000000
        NS
        USD
        128742000.00000000
        1.905162991376
        Long
        EC
        
        US
        
        N
        
        1
        
          N
          N
          N
        
      
      
        EDWARDS LIFESCIENCES CORPORATION
        YA13X31F3V31L8TMPR58
        EDWARDS LIFESCIENCES CORP COMMON STOCK
        28176E108
        
          
        
        1625000.00000000
        NS
        USD
        191295000.00000000
        2.830841174094
        Long
        EC
        
        US
        
        N
        
        1
        
          N
          N
          N
        
      
      
        CATALENT, INC.
        N/A
        CATALENT INC COMMON STOCK
        148806102
        
          
        
        745000.00000000
        NS
        USD
        82620500.00000000
        1.222643107369
        Long
        EC
        
        US
        
        N
        
        1
        
          N
          N
          N
        
      
      
        ULTA BEAUTY, INC.
        529900CIV6HN8M28YM82
        ULTA BEAUTY INC COMMON STOCK
        90384S303
        
          
        
        185000.00000000
        NS
        USD
        73670700.00000000
        1.090201264457
        Long
        EC
        
        US
        
        N
        
        1
        
          N
          N
          N
        
      
      
        ANAPLAN, INC.
        N/A
        ANAPLAN INC COMMON STOCK
        03272L108
        
          
        
        1075000.00000000
        NS
        USD
        69928750.00000000
        1.034826758425
        Long
        EC
        
        US
        
        N
        
        1
        
          N
          N
          N
        
      
      
        NORDSON CORPORATION
        14OS6Q5N55N95WM84M53
        NORDSON CORP COMMON STOCK
        655663102
        
          
        
        470000.00000000
        NS
        USD
        106727600.00000000
        1.579387252632
        Long
        EC
        
        US
        
        N
        
        1
        
          N
          N
          N
        
      
      
        Fidelity Colchester Street Trust: Treasury Only Portfolio; Class I Shares
        N/A
        FIDELITY TREASURY ONLY - I MONEY MARKET CLASS I (FSIXX)
        233809300
        
          
        
        20000000.02000000
        PA
        USD
        20000000.02000000
        0.295966039564
        Long
        STIV
        
        US
        
        N
        
        2
        
          N
          N
          N
        
      
      
        VERISK ANALYTICS, INC.
        549300I1YSWNIRKBWP67
        VERISK ANALYTICS INC COMMON STOCK
        92345Y106
        
          
        
        465000.00000000
        NS
        USD
        99802950.00000000
        1.476914190941
        Long
        EC
        
        US
        
        N
        
        1
        
          N
          N
          N
        
      
      
        ZENDESK, INC.
        549300SLI6BN94BKKO36
        ZENDESK INC COMMON STOCK
        98936J101
        
          
        
        1000000.00000000
        NS
        USD
        120290000.00000000
        1.780087743181
        Long
        EC
        
        US
        
        N
        
        1
        
          N
          N
          N
        
      
      
        TANDEM DIABETES CARE, INC.
        549300JEPFOD0K4D3I05
        TANDEM DIABETES CARE INC COMMON STOCK
        875372203
        
          
        
        810000.00000000
        NS
        USD
        94194900.00000000
        1.393924573615
        Long
        EC
        
        US
        
        N
        
        1
        
          N
          N
          N
        
      
      
        ADVANCE AUTO PARTS, INC.
        529900UCNQ5H9FSL0Y70
        ADVANCE AUTO PARTS INC COMMON STOCK
        00751Y106
        
          
        
        865000.00000000
        NS
        USD
        179020400.00000000
        2.649197936814
        Long
        EC
        
        US
        
        N
        
        1
        
          N
          N
          N
        
      
      
        THE BOSTON BEER COMPANY, INC.
        529900Q02MQ0DCQNRM58
        BOSTON BEER COMPANY INC-A COMMON STOCK
        100557107
        
          
        
        145000.00000000
        NS
        USD
        56328150.00000000
        0.833560972741
        Long
        EC
        
        US
        
        N
        
        1
        
          N
          N
          N
        
      
      
        Leslie's Inc
        N/A
        LESLIE'S INC COMMON STOCK
        527064109
        
          
        
        5605000.00000000
        NS
        USD
        108512800.00000000
        1.605805181297
        Long
        EC
        
        US
        
        N
        
        1
        
          N
          N
          N
        
      
      
        ALIGN TECHNOLOGY, INC.
        549300N5YSE0U3LCP840
        ALIGN TECHNOLOGY INC COMMON STOCK
        016255101
        
          
        
        280000.00000000
        NS
        USD
        122080000.00000000
        1.806576703695
        Long
        EC
        
        US
        
        N
        
        1
        
          N
          N
          N
        
      
      
        PLANET FITNESS, INC.
        549300LLE5HUPF6H8G33
        PLANET FITNESS INC - CL A COMMON STOCK
        72703H101
        
          
        
        870000.00000000
        NS
        USD
        73497600.00000000
        1.087639678387
        Long
        EC
        
        US
        
        N
        
        1
        
          N
          N
          N
        
      
      
        SMARTSHEET INC.
        549300N9WF42OK9VL589
        SMARTSHEET INC-CLASS A COMMON STOCK
        83200N103
        
          
        
        960000.00000000
        NS
        USD
        52588800.00000000
        0.778224942294
        Long
        EC
        
        US
        
        N
        
        1
        
          N
          N
          N
        
      
      
        FORTIVE CORPORATION
        549300MU9YQJYHDQEF63
        FORTIVE CORP COMMON STOCK
        34959J108
        
          
        
        3025000.00000000
        NS
        USD
        184313250.00000000
        2.727523129361
        Long
        EC
        
        US
        
        N
        
        1
        
          N
          N
          N
        
      
      
        ZSCALER, INC.
        529900MZ0RTK1BWRNF46
        ZSCALER INC COMMON STOCK
        98980G102
        
          
        
        560000.00000000
        NS
        USD
        135116800.00000000
        1.999499206732
        Long
        EC
        
        US
        
        N
        
        1
        
          N
          N
          N
        
      
      
        THE TORO COMPANY
        YJKE4YIT6BWQHVEW0D14
        TORO CO COMMON STOCK
        891092108
        
          
        
        1455000.00000000
        NS
        USD
        124387950.00000000
        1.840730444712
        Long
        EC
        
        US
        
        N
        
        1
        
          N
          N
          N
        
      
      
        GENERAC HOLDINGS INC.
        529900S2H2AHJHSFFI84
        GENERAC HOLDINGS INC COMMON STOCK
        368736104
        
          
        
        570000.00000000
        NS
        USD
        169438200.00000000
        2.507397647740
        Long
        EC
        
        US
        
        N
        
        1
        
          N
          N
          N
        
      
      
        CHURCH & DWIGHT CO., INC.
        POOXSI30AWAQGYJZC921
        CHURCH & DWIGHT CO INC COMMON STOCK
        171340102
        
          
        
        480000.00000000
        NS
        USD
        47702400.00000000
        0.705914519580
        Long
        EC
        
        US
        
        N
        
        1
        
          N
          N
          N
        
      
      
        Asana Inc
        N/A
        ASANA INC - CL A COMMON STOCK
        04342Y104
        
          
        
        2500000.00000000
        NS
        USD
        99925000.00000000
        1.478720323696
        Long
        EC
        
        US
        
        N
        
        1
        
          N
          N
          N
        
      
      
        DEXCOM, INC.
        549300YSK3QDSFR5EU59
        DEXCOM INC COMMON STOCK
        252131107
        
          
        
        75000.00000000
        NS
        USD
        38370000.00000000
        0.567810846336
        Long
        EC
        
        US
        
        N
        
        1
        
          N
          N
          N
        
      
    
    
      2022-03-31
      THE ADVISORS' INNER CIRCLE FUND II
      Andy Metzger
      Andy Metzger
      CFO
    
  
  XXXX



THE ADVISORS’ INNER CIRCLE FUND II  

CHAMPLAIN SMALL

COMPANY FUND

MARCH 31, 2022 (Unaudited) 

 

SCHEDULE OF INVESTMENTS

     

COMMON STOCK — 96.0%

     
     Shares      Value  

COMMUNICATION SERVICES — 1.7%

     

John Wiley & Sons, Cl A

                     1,045,000       $              55,416,350     
     

 

 

 

CONSUMER DISCRETIONARY — 4.3%

     

European Wax Center, Cl A *

     285,000        8,424,600     

Sally Beauty Holdings *

     1,970,000        30,791,100     

Shake Shack, Cl A *

     350,000        23,765,000     

Wingstop

     310,000        36,378,500     

Wolverine World Wide

     1,705,000        38,464,800     
     

 

 

 
        137,824,000     
     

 

 

 

CONSUMER STAPLES — 12.9%

     

Central Garden & Pet, Cl A *

     765,000        31,196,700     

elf Beauty *

     1,340,000        34,612,200     

Honest *

     1,110,000        5,783,100     

Hostess Brands, Cl A *

     2,840,000        62,309,600     

J&J Snack Foods

     260,000        40,326,000     

Lancaster Colony

     465,000        69,354,750     

MGP Ingredients

     640,000        54,777,600     

Simply Good Foods *

     2,075,000        78,746,250     

Utz Brands, CI A

     2,510,000        37,097,800     

Zevia PBC, Cl A *

     915,000        4,181,550     
     

 

 

 
        418,385,550     
     

 

 

 

FINANCIALS — 14.4%

     

Argo Group International Holdings

     935,000        38,596,800     

BRP Group, Cl A *

     1,480,000        39,708,400     

Community Bank System

     425,000        29,813,750     

CVB Financial

     1,375,000        31,913,750     

German American Bancorp

     615,000        23,363,850     

Independent Bank

     665,000        54,323,850     

James River Group Holdings

     845,000        20,905,300     

Palomar Holdings *

     360,000        23,036,400     

Prosperity Bancshares

     525,000        36,424,500     

Selective Insurance Group

     655,000        58,530,800     

Stock Yards Bancorp

     335,000        17,721,500     

UMB Financial

     605,000        58,781,800     

Washington Trust Bancorp

     230,000        12,075,000     

WSFS Financial

     450,000        20,979,000     
     

 

 

 
        466,174,700     
     

 

 

 

 

   

 

1  

  CHAMPLAIN INVESTMENT    PARTNERS
   


THE ADVISORS’ INNER CIRCLE FUND II  

CHAMPLAIN SMALL

COMPANY FUND

MARCH 31, 2022 (Unaudited) 

 

COMMON STOCK — continued      
     Shares      Value  

HEALTH CARE — 19.8%

     

AtriCure *

     580,000       $ 38,088,600     

Axonics *

     467,885        29,289,601     

Cardiovascular Systems *

                     1,643,735        37,148,411     

CONMED

     625,000        92,843,750     

Globus Medical, Cl A *

     765,000        56,441,700     

Inspire Medical Systems *

     320,000        82,140,800     

Integra LifeSciences Holdings *

     1,275,000        81,931,500     

Masimo *

     65,000        9,460,100     

Omnicell *

     210,000        27,192,900     

Outset Medical *

     930,000        42,222,000     

Penumbra *

     221,265        49,149,595     

Pulmonx *

     995,000        24,685,950     

SI-BONE *

     855,000        19,323,000     

Tactile Systems Technology *

     830,000        16,732,800     

Vapotherm *

     710,000        9,869,000     

Veracyte *

     825,000        22,745,250     
     

 

 

 
        639,264,957     
     

 

 

 

INDUSTRIALS — 19.2%

     

Albany International, Cl A

     250,000        21,080,000     

Altra Industrial Motion

     1,015,000        39,513,950     

Barnes Group

     1,340,000        53,854,600     

CSW Industrials

     325,000        38,216,750     

ESCO Technologies

     450,000        31,464,000     

Evoqua Water Technologies *

     1,985,000        93,255,300     

Gibraltar Industries *

     350,000        15,032,500     

John Bean Technologies

     755,000        89,444,850     

Montrose Environmental Group *

     440,000        23,289,200     

MSA Safety

     630,000        83,601,000     

RBC Bearings *

     145,000        28,112,600     

Ritchie Bros. Auctioneers

     1,045,000        61,686,350     

Standex International

     290,000        28,976,800     

Transcat *

     180,000        14,605,200     
     

 

 

 
                   622,133,100     
     

 

 

 

INFORMATION TECHNOLOGY — 19.6%

     

Asana, Cl A *

     455,000        18,186,350     

Blackbaud *

     475,000        28,438,250     

BlackLine *

     640,000        46,860,800     

Envestnet *

     425,000        31,637,000     

New Relic *

     1,150,000        76,912,000     

Novanta *

     155,105        22,069,890     

 

   

 

2  

  CHAMPLAIN INVESTMENT    PARTNERS
   


THE ADVISORS’ INNER CIRCLE FUND II  

CHAMPLAIN SMALL

COMPANY FUND

MARCH 31, 2022 (Unaudited) 

 

COMMON STOCK — continued      
     Shares      Value  

INFORMATION TECHNOLOGY — continued

     

Pure Storage, Cl A *

                     2,980,000       $ 105,223,800     

Q2 Holdings *

     1,075,000        66,273,750     

SailPoint Technologies Holdings *

     1,325,000        67,813,500     

Sumo Logic *

     1,916,970        22,371,040     

Tenable Holdings *

     1,170,000        67,614,300     

Workiva, Cl A *

     502,000        59,236,000     

Yext *

     2,815,000        19,395,350     
     

 

 

 
        632,032,030     
     

 

 

 

MATERIALS — 4.1%

     

Chase

     67,440        5,861,210     

Innospec

     430,000        39,796,500     

Sensient Technologies

     450,000        37,777,500     

TriMas

     1,560,000        50,060,400     
     

 

 

 
        133,495,610     
     

 

 

 

TOTAL COMMON STOCK
(Cost $2,438,759,672)

        3,104,726,297     
     

 

 

 

CASH EQUIVALENTS** — 3.6%

     

Fidelity Investments - Money Market Treasury Only Portfolio, Cl I, 0.140%

     20,000,000        20,000,000     

Goldman Sachs Square Treasury Instruments Fund, Institutional Shares, 0.006%

     96,764,631        96,764,631     
     

 

 

 

TOTAL CASH EQUIVALENTS
(Cost $116,764,631)

        116,764,631     
     

 

 

 

TOTAL INVESTMENTS — 99.6%
(Cost $2,555,524,303)

       $         3,221,490,928     
     

 

 

 

Percentages are based on Net Assets of $3,234,182,565.

*  Non-income producing security.

** Rate reported is the 7-day effective yield as of March 31, 2022.

Cl — Class

As of March 31, 2022, 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.

During the period ended March 31, 2022, there were no transfers in or out of Level 3.

 

   

 

3  

  CHAMPLAIN INVESTMENT    PARTNERS
   


THE ADVISORS’ INNER CIRCLE FUND II  

CHAMPLAIN SMALL

COMPANY FUND

MARCH 31, 2022 (Unaudited) 

 

For more information on the Fund’s policy regarding significant accounting policies including valuation of investments, please refer to the Fund’s most recent semi-annual or annual financial statements.

CSC-QH-001-3500

 

   

 

4  

  CHAMPLAIN INVESTMENT    PARTNERS
   


THE ADVISORS’ INNER CIRCLE FUND II  

CHAMPLAIN

MID CAP FUND

MARCH 31, 2022 (Unaudited) 

 

SCHEDULE OF INVESTMENTS

     

COMMON STOCK — 97.8%

     
     Shares      Value  

CONSUMER DISCRETIONARY — 8.5%

     

Advance Auto Parts

     865,000       $            179,020,400     

Leslie’s *

                     5,605,000        108,512,800     

Planet Fitness, Cl A *

     870,000        73,497,600     

Terminix Global Holdings *

     1,165,000        53,158,950     

Tractor Supply

     360,000        84,013,200     

Ulta Beauty *

     185,000        73,670,700     
     

 

 

 
        571,873,650     
     

 

 

 

CONSUMER STAPLES — 11.1%

     

Boston Beer, Cl A *

     145,000        56,328,150     

Church & Dwight

     480,000        47,702,400     

Clorox

     760,000        105,662,800     

Freshpet *

     1,240,000        127,273,600     

Hormel Foods

     1,790,000        92,256,600     

JM Smucker

     920,000        124,577,200     

Lamb Weston Holdings

     1,160,000        69,495,600     

McCormick

     1,290,000        128,742,000     
     

 

 

 
        752,038,350     
     

 

 

 

FINANCIALS — 12.2%

     

Arthur J Gallagher

     1,075,000        187,695,000     

Cullen/Frost Bankers

     460,000        63,668,600     

Everest Re Group

     650,000        195,897,000     

Northern Trust

     850,000        98,982,500     

Prosperity Bancshares

     975,000        67,645,500     

SVB Financial Group *

     165,000        92,309,250     

Tradeweb Markets, Cl A

     1,325,000        116,427,750     
     

 

 

 
        822,625,600     
     

 

 

 

HEALTH CARE — 23.9%

     

Abcam PLC ADR

     1,351,965        24,727,440     

Align Technology *

     280,000        122,080,000     

Bio-Rad Laboratories, Cl A *

     130,000        73,219,900     

Bio-Techne

     265,000        114,755,600     

Catalent *

     745,000        82,620,500     

Cooper

     230,000        96,045,700     

DENTSPLY SIRONA

     2,900,000        142,738,000     

DexCom *

     75,000        38,370,000     

Edwards Lifesciences *

     1,625,000        191,295,000     

Integra LifeSciences Holdings *

     1,465,000        94,140,900     

Maravai LifeSciences Holdings, Cl A *

     1,910,000        67,365,700     

 

   

 

1  

  CHAMPLAIN INVESTMENT    PARTNERS
   


THE ADVISORS’ INNER CIRCLE FUND II  

CHAMPLAIN

MID CAP FUND

MARCH 31, 2022 (Unaudited) 

 

COMMON STOCK — continued      
     Shares      Value  

HEALTH CARE — continued

     

Masimo *

     440,000       $ 64,037,600     

STERIS PLC

     570,000                   137,808,900     

Tandem Diabetes Care *

     810,000        94,194,900     

Veeva Systems, Cl A *

     505,000        107,292,300     

Waters *

     530,000        164,506,700     
     

 

 

 
        1,615,199,140     
     

 

 

 

INDUSTRIALS — 20.4%

     

AMETEK

                     1,510,000        201,101,800     

Clarivate PLC *

     4,400,000        73,744,000     

CoStar Group *

     1,520,000        101,247,200     

Fortive

     3,025,000        184,313,250     

Generac Holdings *

     570,000        169,438,200     

Graco

     1,070,000        74,600,400     

IDEX

     595,000        114,079,350     

Nordson

     470,000        106,727,600     

Rockwell Automation

     460,000        128,813,800     

Toro

     1,455,000        124,387,950     

Verisk Analytics

     465,000        99,802,950     
     

 

 

 
        1,378,256,500     
     

 

 

 

INFORMATION TECHNOLOGY — 20.0%

     

Akamai Technologies *

     895,000        106,854,050     

Anaplan *

     1,075,000        69,928,750     

Asana, Cl A *

     2,500,000        99,925,000     

Nutanix, Cl A *

     3,040,000        81,532,800     

Okta, Cl A *

     625,000        94,350,000     

Palo Alto Networks *

     285,000        177,415,350     

Pure Storage, Cl A *

     4,285,000        151,303,350     

Smartsheet, Cl A *

     960,000        52,588,800     

Synopsys *

     280,000        93,315,600     

Workday, Cl A *

     710,000        170,016,600     

Zendesk *

     1,000,000        120,290,000     

Zscaler *

     560,000        135,116,800     
     

 

 

 
        1,352,637,100     
     

 

 

 

 

   

 

2  

  CHAMPLAIN INVESTMENT    PARTNERS
   


THE ADVISORS’ INNER CIRCLE FUND II  

CHAMPLAIN

MID CAP FUND

MARCH 31, 2022 (Unaudited) 

 

COMMON STOCK — continued      
     Shares      Value  

MATERIALS — 1.7%

     

AptarGroup

     970,000       $            113,975,000     
     

 

 

 

TOTAL COMMON STOCK
(Cost $4,909,530,570)

        6,606,605,340     
     

 

 

 

CASH EQUIVALENTS** — 2.1%

     

Fidelity Investments - Money Market Treasury Only Portfolio, Cl I, 0.140%

                   20,000,000        20,000,000     

Goldman Sachs Square Treasury Instruments Fund, Institutional Shares, 0.006%

     123,515,906        123,515,906     
     

 

 

 

TOTAL CASH EQUIVALENTS
(Cost $143,515,906)

        143,515,906     
     

 

 

 

TOTAL INVESTMENTS — 99.9%
(Cost $5,053,046,476)

       $ 6,750,121,246     
     

 

 

 

Percentages are based on Net Assets of $6,756,117,710.

*  Non-income producing security.

** Rate reported is the 7-day effective yield as of March 31, 2022.

ADR — American Depositary Receipt

Cl — Class

PLC — Public Limited Company

As of March 31, 2022, 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.

During the period ended March 31, 2022, there were no transfers in or out of Level 3.

For more information on the Fund’s policy regarding significant accounting policies including valuation of investments, please refer to the Fund’s most recent semi-annual or annual financial statements.

CSC-QH-002-2800

 

   

 

3  

  CHAMPLAIN INVESTMENT    PARTNERS
   


THE ADVISORS’ INNER CIRCLE FUND II  

CHAMPLAIN EMERGING

MARKETS FUND

MARCH 31, 2022 (Unaudited) 

 

SCHEDULE OF INVESTMENTS

     

COMMON STOCK — 98.2%

     
     Shares      Value  

BRAZIL — 4.9%

     

PagSeguro Digital, Cl A *

     3,920       $ 78,596     

WEG

                          21,500        157,904     

XP, Cl A *

     5,035        151,553     
     

 

 

 
        388,053     
     

 

 

 

CHINA — 23.8%

     

Alibaba Group Holding *

     19,760        267,946     

Beijing Kingsoft Office Software, Cl A

     3,909        114,972     

Foshan Haitian Flavouring & Food, Cl A

     7,105        97,541     

Hefei Meyer Optoelectronic Technology, Cl A

     15,515        65,296     

JD.com, Cl A *

     7,207        207,865     

Netease

     5,890        104,789     

Shenzhen Inovance Technology, Cl A

     12,952        115,731     

Shenzhen Mindray Bio-Medical Electronics, Cl A

     2,795        135,018     

Tencent Holdings

     9,185        428,685     

WuXi AppTec, Cl H

     7,145        112,573     

Wuxi Biologics Cayman *

     16,080        131,525     

Yum China Holdings

     2,385        103,006     
     

 

 

 
                       1,884,947     
     

 

 

 

HONG KONG — 8.6%

     

AIA Group

     28,735        300,075     

Hong Kong Exchanges & Clearing

     2,935        137,770     

Shenzhou International Group Holdings

     9,825        129,603     

Techtronic Industries

     7,085        113,997     
     

 

 

 
        681,445     
     

 

 

 

HUNGARY — 1.8%

     

OTP Bank

     3,835        140,827     
     

 

 

 

INDIA — 22.3%

     

Apollo Hospitals Enterprise

     1,435        85,426     

Asian Paints

     4,215        171,013     

Avenue Supermarts *

     1,415        74,518     

Bajaj Finance

     1,880        179,289     

Britannia Industries

     2,515        106,044     

HDFC Bank

     13,165        254,221     

Jubilant Foodworks

     1,920        66,634     

Kotak Mahindra Bank

     5,640        129,927     

Mphasis

     2,230        98,957     

 

   

 

1  

  CHAMPLAIN INVESTMENT    PARTNERS
   


THE ADVISORS’ INNER CIRCLE FUND II  

CHAMPLAIN EMERGING

MARKETS FUND

MARCH 31, 2022 (Unaudited) 

 

COMMON STOCK — continued      
     Shares      Value  

INDIA — continued

     

Reliance Industries

                          12,570       $ 435,702     

Tata Consultancy Services

     3,450        169,770     
     

 

 

 
        1,771,501     
     

 

 

 

INDONESIA — 2.4%

     

Bank Central Asia

     335,475        186,530     
     

 

 

 

LUXEMBOURG — 0.7%

     

L’Occitane International

     16,885        54,525     
     

 

 

 

MEXICO — 3.9%

     

Wal-Mart de Mexico

     76,235        311,599     
     

 

 

 

POLAND — 1.4%

     

Dino Polska *

     1,380        112,373     
     

 

 

 

SINGAPORE — 0.5%

     

Nanofilm Technologies International

     21,535        42,951     
     

 

 

 

SOUTH AFRICA — 1.5%

     

Clicks Group

     5,710        120,677     
     

 

 

 

SOUTH KOREA — 6.7%

     

Kakao

     2,270        197,324     

Koh Young Technology

     5,050        78,433     

Samsung Electronics

     2,780        159,002     

SK IE Technology *

     945        97,186     
     

 

 

 
        531,945     
     

 

 

 

TAIWAN — 14.0%

     

Airtac International Group

     2,572        83,022     

Realtek Semiconductor

     5,510        82,209     

Silergy

     1,430        169,756     

Taiwan Semiconductor Manufacturing

     28,845        594,336     

Voltronic Power Technology

     3,545        179,722     
     

 

 

 
                       1,109,045     
     

 

 

 

 

   

 

2  

  CHAMPLAIN INVESTMENT    PARTNERS
   


THE ADVISORS’ INNER CIRCLE FUND II  

CHAMPLAIN EMERGING

MARKETS FUND

MARCH 31, 2022 (Unaudited) 

 

COMMON STOCK — continued      
     Shares      Value  

UNITED KINGDOM — 1.8%

     

Unilever PLC ADR

     2,335       $ 106,406     

VTEX, Cl A *

     5,585        34,348     
     

 

 

 
        140,754     
     

 

 

 

UNITED STATES — 1.0%

     

Freshworks, Cl A *

     4,370        78,310     
     

 

 

 

URUGUAY — 2.9%

     

MercadoLibre *

     193        229,570     
     

 

 

 

TOTAL COMMON STOCK
(Cost $7,438,264)

        7,785,052     
     

 

 

 

PREFERRED STOCK — 0.8%

     

BRAZIL — 0.8%

     

Banco Inter † *

                          43,190        65,531     
     

 

 

 

TOTAL PREFERRED STOCK
(Cost $87,723)

        65,531     
     

 

 

 

TOTAL INVESTMENTS — 99.0%
(Cost $7,525,987)

       $                7,850,583     
     

 

 

 

Percentages are based on Net Assets of $7,930,255.

*  Non-income producing security.

†  There is currently no rate available.

ADR — American Depositary Receipt

Cl — Class

PLC — Public Limited Company

 

   

 

3  

  CHAMPLAIN INVESTMENT    PARTNERS
   


THE ADVISORS’ INNER CIRCLE FUND II  

CHAMPLAIN EMERGING

MARKETS FUND

MARCH 31, 2022 (Unaudited) 

 

The following is a list of the inputs used as of March 31, 2022, in valuing the Fund’s investments:

 

Investments in Securities    Level 1      Level 2      Level 3      Total  

Common Stock

           

Brazil

   $ 388,053      $      $      $ 388,053     

China

            1,884,947               1,884,947     

Hong Kong

            681,445               681,445     

Hungary

            140,827               140,827     

India

            1,771,501               1,771,501     

Indonesia

            186,530               186,530     

Luxembourg

            54,525               54,525     

Mexico

     311,599                      311,599     

Poland

            112,373               112,373     

Singapore

            42,951               42,951     

South Africa

            120,677               120,677     

South Korea

            531,945               531,945     

Taiwan

            1,109,045               1,109,045     

United Kingdom

     140,754                      140,754     

United States

     78,310                      78,310     

Uruguay

     229,570                      229,570     
  

 

 

 

Total Common Stock

     1,148,286        6,636,766               7,785,052     

Preferred Stock

           

Brazil

            65,531               65,531     
  

 

 

 

Total Investments in Securities

   $       1,148,286      $       6,702,297      $                     –      $       7,850,583     
  

 

 

 

During the period ended March 31, 2022, there were no transfers in or out of Level 3.

For more information on the Fund’s policy regarding significant accounting policies including valuation of investments, please refer to the Fund’s most recent semi-annual or annual financial statements.

CSC-QH-004-1400

 

   

 

4  

  CHAMPLAIN INVESTMENT    PARTNERS
   


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