THE ADVISORS’ INNER CIRCLE FUND II

FRONTIER ETFs

ABSOLUTE RETURN ETF

JULY 31, 2026 (Unaudited)

 

SCHEDULE OF INVESTMENTS

EXCHANGE-TRADED FUNDS — 99.4%

 

Shares

Value

Commodity — 23.2%

    

Harbor Commodity All Weather Strategy ETF (1)

65,235

 $

2,097,305

iMGP DBi Managed Futures Strategy ETF

28,021

866,409

 

  

2,963,714

Equity — 30.9%

    

American Beacon AHL Trend ETF (1)

93,191

2,705,428

iShares MSCI USA Momentum Factor ETF

1,320

395,459

iShares U.S. Small-Capital Equity Factor ETF

6,979

601,799

Vanguard Dividend Appreciation ETF

1,100

263,087

 

  

3,965,773

Fixed Income — 42.5%

    

iShares High Yield Systematic Bond ETF

12,256

568,433

Janus Henderson AAA CLO ETF

8,712

439,956

JPMorgan Ultra-Short Income ETF

10,836

547,652

Vanguard Short-Term Bond ETF (1)

35,963

2,790,010

WisdomTree Floating Rate Treasury Fund ETF

22,000

1,108,360

 

  

5,454,411

International — 2.8%

    

Avantis International Small Capital Value ETF

3,388

354,520

 

    

Total Exchange-Traded Funds

    

(Cost $11,188,659)

  

12,738,418

 

    

Total Investments - 99.4%

    

(Cost $11,188,659)

   $

12,738,418

 

Percentages are based on Net Assets of $12,809,719.

(1)Represents greater than 10% of the Fund’s total investments. For further information, please go to the Fund’s website at https://www.SEC.gov.

 

CLO — Collateralized Loan Obligation

ETF — Exchange-Traded Fund

 

1

 

 

THE ADVISORS’ INNER CIRCLE FUND II

FRONTIER ETFs

CORE BOND ETF

JULY 31, 2026 (Unaudited)

 

SCHEDULE OF INVESTMENTS

EXCHANGE-TRADED FUNDS — 99.3%

 

Shares

Value

Fixed Income — 99.3%

    

iShares Investment Grade Systematic Bond ETF

48,160

 $

2,133,007

JPMorgan Core Plus Bond ETF (1)

159,889

7,383,674

JPMorgan Ultra-Short Income ETF

51,952

2,625,654

Regan Floating Rate MBS ETF (1)

157,622

4,039,316

TCW Flexible Income ETF (1)

251,040

9,767,966

Vanguard Intermediate-Term Treasury ETF (1)

170,956

9,975,283

WisdomTree Floating Rate Treasury Fund ETF (1)

79,595

4,009,996

 

  

39,934,896

Total Exchange-Traded Funds

    

(Cost $39,926,636)

  

39,934,896

 

    

Total Investments - 99.3%

    

(Cost $39,926,636)

   $

39,934,896

 

Percentages are based on Net Assets of $40,201,466.

(1)Represents greater than 10% of the Fund’s total investments. For further information, please go to the Fund’s website at https://www.SEC.gov.

 

ETF — Exchange-Traded Fund

MBS — Mortgage-Backed Security

 

2

 

 

THE ADVISORS’ INNER CIRCLE FUND II

FRONTIER ETFs

OPPORTUNISTIC CREDIT ETF

JULY 31, 2026 (Unaudited)

 

SCHEDULE OF INVESTMENTS

EXCHANGE-TRADED FUNDS — 99.2%

 

Shares

Value

Fixed Income — 99.2%

    

iShares Investment Grade Systematic Bond ETF (1)

119,021

 $

5,271,440

iShares MBS ETF

24,710

2,296,053

JPMorgan Core Plus Bond ETF (1)

107,833

4,979,728

PIMCO Multisector Bond Active ETF

60,320

1,577,368

Schwab US TIPS ETF

99,098

2,585,467

TCW Flexible Income ETF (1)

214,474

8,345,183

Vanguard Intermediate-Term Treasury ETF (1)

94,109

5,491,260

Vanguard Short-Term Inflation-Protected Securities ETF

42,648

2,117,900

 

  

32,664,399

Total Exchange-Traded Funds

    

(Cost $32,688,584)

  

32,664,399

 

    

Total Investments - 99.2%

    

(Cost $32,688,584)

   $

32,664,399

 

Percentages are based on Net Assets of $32,922,484.

(1)Represents greater than 10% of the Fund’s total investments. For further information, please go to the Fund’s website at https://www.SEC.gov.

 

ETF — Exchange-Traded Fund

MBS — Mortgage-Backed Security

TIPS — Treasury Inflation-Protected Security

 

3

 

 

THE ADVISORS’ INNER CIRCLE FUND II

FRONTIER ETFs

GLOBAL SMALL CAP EQUITY ETF

JULY 31, 2026 (Unaudited)

 

SCHEDULE OF INVESTMENTS

EXCHANGE-TRADED FUNDS — 99.9%

 

Shares

Value

Equity — 58.8%

    

Avantis U.S. Small Capital Value ETF (1)

47,595

 $

5,962,702

iShares Core S&P Small-Capital ETF (1)

78,487

11,416,719

iShares U.S. Small-Capital Equity Factor ETF (1)

109,932

9,479,436

Neuberger Small-Mid Capital ETF

109,116

3,106,532

 

  

29,965,389

International — 41.1%

    

Avantis International Small Capital Value ETF (1)

132,256

13,839,268

iShares International Small-Capital Equity Factor ETF (1)

161,789

7,154,310

 

  

20,993,578

Total Exchange-Traded Funds

    

(Cost $39,071,694)

  

50,958,967

 

    

Total Investments - 99.9%

    

(Cost $39,071,694)

   $

50,958,967

 

Percentages are based on Net Assets of $50,987,957.

(1)Represents greater than 10% of the Fund’s total investments. For further information, please go to the Fund’s website at https://www.SEC.gov.

 

ETF — Exchange-Traded Fund

S&P — Standard & Poor's

 

4

 

 

THE ADVISORS’ INNER CIRCLE FUND II

FRONTIER ETFs

TOTAL INTERNATIONAL EQUITY ETF

JULY 31, 2026 (Unaudited)

 

SCHEDULE OF INVESTMENTS

EXCHANGE-TRADED FUNDS — 99.7%

 

Shares

Value

International — 99.7%

    

Avantis Emerging Markets Equity ETF (1)

182,690

 $

16,352,582

Cambria Foreign Shareholder Yield ETF

176,794

6,949,772

First Eagle Overseas Equity ETF (1)

141,489

7,828,586

Franklin International Low Volatility High Dividend Index ETF

131,923

5,635,751

iShares Emerging Markets Equity Factor ETF (1)

119,624

8,140,413

iShares International Equity Factor ETF (1)

280,971

11,786,734

iShares MSCI International Quality Factor ETF (1)

240,847

12,083,294

Vanguard International Dividend Appreciation ETF (1)

83,234

8,093,674

 

  

76,870,806

Total Exchange-Traded Funds

    

(Cost $59,041,626)

  

76,870,806

 

    

Total Investments - 99.7%

    

(Cost $59,041,626)

   $

76,870,806

 

Percentages are based on Net Assets of $77,077,145.

(1)Represents greater than 10% of the Fund’s total investments. For further information, please go to the Fund’s website at https://www.SEC.gov.

 

ETF — Exchange-Traded Fund

 

5

 

 

THE ADVISORS’ INNER CIRCLE FUND II

FRONTIER ETFs

U.S. LARGE CAP EQUITY ETF

JULY 31, 2026 (Unaudited)

 

SCHEDULE OF INVESTMENTS

EXCHANGE-TRADED FUNDS — 99.8%

 

Shares

Value

Equity — 99.8%

    

GMO US Quality ETF

99,301

 $

4,148,796

iShares U.S. Equity Factor ETF (1)

200,671

15,271,063

JPMorgan Active Growth ETF (1)

93,330

8,556,494

JPMorgan Active Value ETF (1)

155,000

12,641,800

T Rowe Price Capital Appreciation Equity ETF (1)

217,972

9,043,658

T Rowe Price US Equity Research ETF (1)

441,708

20,813,281

Vanguard Dividend Appreciation ETF (1)

40,338

9,647,640

 

  

80,122,732

Total Exchange-Traded Funds

    

(Cost $68,969,051)

  

80,122,732

 

    

Total Investments - 99.8%

    

(Cost $68,969,051)

   $

80,122,732

 

Percentages are based on Net Assets of $80,303,949.

(1)Represents greater than 10% of the Fund’s total investments. For further information, please go to the Fund’s website at https://www.SEC.gov.

 

ETF — Exchange-Traded Fund

 

FRT-NQ-001-0400

 

6