# EDGAR Filing Document

**Accession Number:** 0001593547
**File Stem:** 0002048251-25-002889
**Filing Date:** 2025-11
**Character Count:** 30136
**Document Hash:** 130ed8c348a13a95f495e07ccb272d20
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0002048251-25-002889.hdr.sgml**: 20251128

**ACCESSION NUMBER**: 0002048251-25-002889

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 1

**CONFORMED PERIOD OF REPORT**: 20250930

**FILED AS OF DATE**: 20251128

**DATE AS OF CHANGE**: 20251128

**PERIOD START**: 20250930

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Advisors' Inner Circle Fund III
- **CENTRAL INDEX KEY:** 0001593547

**ORGANIZATION NAME:**
- **EIN:** 000000000
- **STATE OF INCORPORATION:** DE

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-22920
- **FILM NUMBER:** 251533255

**BUSINESS ADDRESS:**
- **STREET 1:** ONE FREEDOM VALLEY DRIVE
- **CITY:** OAKS
- **STATE:** PA
- **ZIP:** 19456
- **BUSINESS PHONE:** (800) 342-5734

**MAIL ADDRESS:**
- **STREET 1:** ONE FREEDOM VALLEY DRIVE
- **CITY:** OAKS
- **STATE:** PA
- **ZIP:** 19456

## Series and Classes Contracts Data

### NICHOLAS PARTNERS SMALL CAP GROWTH FUND (Series ID: S000064409)

| Class ID   | Class Name           | Ticker Symbol   |
|:---|:---|:---|
| C000208376 | Institutional Shares | NPSGX           |

## Form NPORT-P: Monthly Portfolio Investments Report

### NPORT-P: Part A: General Information

**Item A.1. Information about the Registrant.**

- **a. Name of Registrant:** ADVISORS' INNER CIRCLE III

- **b. Investment Company Act file number:** 811-22920

- **c. CIK number of Registrant:** 0001593547

- **d. LEI of Registrant:** 549300TG800HOPJVWT31

- **e. Address and telephone number of Registrant.**

  - **Street Address 1:** ONE FREEDOM VALLEY DRIVE

  - **City:** OAKS

  - **State:** PA

  - **Foreign country:** US

  - **Zip / Postal Code:** 19456

  - **Telephone number:** 8774463863

**Item A.2. Information about the Series.**

- **a. Name of Series:** NICHOLAS PARTNERS SMALL CAP GROWTH FUND

- **b. EDGAR series identifier (if any):** S000064409

- **c. LEI of Series:** 549300T01T43XTO9WP29

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

- **a. Date of fiscal year-end:** 2025-09-30

- **b. Date as of which information is reported:** 2025-09-30

**Item A.4. Final filing**

Does the Fund anticipate that this will be its final filing on Form N-PORT? **No**

### Fund Information

**Total Assets:** $133214183.29

**Total Liabilities:** $157806.95

**Net Assets:** $133056376.34

**Cash Not Reported:** $1913.28

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000208376 | 4.89%                | 5.85%                | 4.98%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $-170569.46              | $6316879.47                                |
| Month 2  | $-707168.75              | $7624473.97                                |
| Month 3  | $1437220.93              | $4271624.12                                |

### Schedule of Portfolio Investments

| Name                                      | Title                                     | Identifiers                                   | Payoff Profile   | Asset Category   | Issuer Category   | Country   |   Balance | Units   | Value (USD)   | % of Net Assets   | Maturity Date   | Coupon Type   | Annualized Rate (%)   | Restricted?   |   Fair Value Level | Lending Status   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| Roivant Sciences Ltd                      | ROIVANT SCIENCES LTD COMMON STOCK         | CUSIP: G76279101<br>LEI: 549300DL466NY5J6U724 | Long             | EC               |  | US        |     48897 | NS      | $739811.61    | 0.56%             |  |  |  | No            |                  1 | On Loan: No      |
| GUARDANT HEALTH, INC.                     | GUARDANT HEALTH INC COMMON STOCK          | CUSIP: 40131M109<br>LEI: 254900M8C3E5VC8BR186 | Long             | EC               |  | US        |     16447 | NS      | $1027608.56   | 0.77%             |  |  |  | No            |                  1 | On Loan: No      |
| APPLIED DIGITAL CORPORATION               | APPLIED DIGITAL CORP COMMON STOCK         | CUSIP: N/A<br>LEI: 2549004NE2B6RYXINZ02       | Long             | EC               |  | US        |     40899 | NS      | $938223.06    | 0.71%             |  |  |  | No            |                  1 | On Loan: No      |
| NewAmsterdam Pharma Company NV            | NEWAMSTERDAM PHARMA CO NV COMMON STOCK    | CUSIP: N62509109<br>LEI: 984500B6549TF6E14D36 | Long             | EC               |  | US        |     28311 | NS      | $805164.84    | 0.61%             |  |  |  | No            |                  1 | On Loan: No      |
| RAMACO RESOURCES, INC.                    | RAMACO RESOURCES INC-A COMMON STOCK       | CUSIP: 75134P600<br>LEI: 5493001BYUI4TCQOPF70 | Long             | EC               |  | US        |     25559 | NS      | $848303.21    | 0.64%             |  |  |  | No            |                  1 | On Loan: No      |
| COMMVAULT SYSTEMS, INC.                   | COMMVAULT SYSTEMS INC COMMON STOCK        | CUSIP: 204166102<br>LEI: 65T5VRP62VXG39YFML83 | Long             | EC               |  | US        |      7667 | NS      | $1447376.26   | 1.09%             |  |  |  | No            |                  1 | On Loan: No      |
| Merus NV                                  | MERUS NV COMMON STOCK                     | CUSIP: N5749R100<br>LEI: 549300W8GPUWU8QNU293 | Long             | EC               |  | US        |     20855 | NS      | $1963498.25   | 1.48%             |  |  |  | No            |                  1 | On Loan: No      |
| AXSOME THERAPEUTICS, INC.                 | AXSOME THERAPEUTICS INC COMMON STOCK      | CUSIP: 05464T104<br>LEI: 549300EXGR0XLRJEIB95 | Long             | EC               |  | US        |      7664 | NS      | $930792.80    | 0.70%             |  |  |  | No            |                  1 | On Loan: No      |
| Credo Technology Group Holding Ltd        | CREDO TECHNOLOGY GROUP HOLDI COMMON STOCK | CUSIP: G25457105<br>LEI: N/A                  | Long             | EC               |  | US        |     13136 | NS      | $1912732.96   | 1.44%             |  |  |  | No            |                  1 | On Loan: No      |
| TFI International Inc.                    | TFI INTERNATIONAL INC COMMON STOCK        | CUSIP: 87241L109<br>LEI: 5493007R9W7KO7SJN678 | Long             | EC               |  | US        |      7427 | NS      | $654021.62    | 0.49%             |  |  |  | No            |                  1 | On Loan: No      |
| Tanger Inc.                               | TANGER INC REIT                           | CUSIP: 875465106<br>LEI: UKEW8YSXE4Y581KYOL30 | Long             | EC               |  | US        |     89686 | NS      | $3034974.24   | 2.28%             |  |  |  | No            |                  1 | On Loan: No      |
| WESTERN ALLIANCE BANCORPORATION           | WESTERN ALLIANCE BANCORP COMMON STOCK     | CUSIP: 957638109<br>LEI: 5493003VJXZ5JXT9S762 | Long             | EC               |  | US        |     24899 | NS      | $2159241.28   | 1.62%             |  |  |  | No            |                  1 | On Loan: No      |
| WOLVERINE WORLD WIDE, INC.                | WOLVERINE WORLD WIDE INC COMMON STOCK     | CUSIP: 978097103<br>LEI: 549300OVC7PK14LQ8D87 | Long             | EC               |  | US        |     45509 | NS      | $1248766.96   | 0.94%             |  |  |  | No            |                  1 | On Loan: No      |
| WINTRUST FINANCIAL CORPORATION            | WINTRUST FINANCIAL CORP COMMON STOCK      | CUSIP: 97650W108<br>LEI: Q774KI4AW80FHFW33O61 | Long             | EC               |  | US        |     21616 | NS      | $2862823.04   | 2.15%             |  |  |  | No            |                  1 | On Loan: No      |
| Astera Labs Inc                           | ASTERA LABS INC COMMON STOCK              | CUSIP: 04626A103<br>LEI: 529900LJL8TUEGF7HG20 | Long             | EC               |  | US        |      9224 | NS      | $1806059.20   | 1.36%             |  |  |  | No            |                  1 | On Loan: No      |
| MIRUM PHARMACEUTICALS, INC.               | MIRUM PHARMACEUTICALS INC COMMON STOCK    | CUSIP: 604749101<br>LEI: 254900YZKR40F7F27K81 | Long             | EC               |  | US        |     29249 | NS      | $2144244.19   | 1.61%             |  |  |  | No            |                  1 | On Loan: No      |
| PIPER SANDLER COMPANIES                   | PIPER SANDLER COS COMMON STOCK            | CUSIP: 724078100<br>LEI: QUQDBTUSOAKFEVMRMF78 | Long             | EC               |  | US        |      9577 | NS      | $3323123.23   | 2.50%             |  |  |  | No            |                  1 | On Loan: No      |
| POWELL INDUSTRIES, INC.                   | POWELL INDUSTRIES INC COMMON STOCK        | CUSIP: 739128106<br>LEI: 549300V08RO7MX2UBN26 | Long             | EC               |  | US        |      3446 | NS      | $1050375.26   | 0.79%             |  |  |  | No            |                  1 | On Loan: No      |
| PALOMAR HOLDINGS, INC.                    | PALOMAR HOLDINGS INC COMMON STOCK         | CUSIP: 69753M105<br>LEI: 549300DOI1MUW11BLX74 | Long             | EC               |  | US        |      5593 | NS      | $652982.75    | 0.49%             |  |  |  | No            |                  1 | On Loan: No      |
| ABIVAX SA                                 | ABIVAX SA-ADR DEPOSITARY RECEIPT          | CUSIP: 00370M103<br>LEI: 969500D8TMNB184OJU95 | Long             | EC               |  | US        |      3873 | NS      | $328817.70    | 0.25%             |  |  |  | No            |                  1 | On Loan: No      |
| GATES INDUSTRIAL CORPORATION PLC          | GATES INDUSTRIAL CORP PLC COMMON STOCK    | CUSIP: G39108108<br>LEI: 549300S6K4FWUSB9KM27 | Long             | EC               |  | US        |     49072 | NS      | $1217967.04   | 0.92%             |  |  |  | No            |                  1 | On Loan: No      |
| CORE SCIENTIFIC, INC.                     | CORE SCIENTIFIC INC COMMON STOCK          | CUSIP: 21874A106<br>LEI: 5299003RGB2LAZ65RK73 | Long             | EC               |  | US        |     38195 | NS      | $685218.30    | 0.51%             |  |  |  | No            |                  1 | On Loan: No      |
| NOVA LTD                                  | NOVA LTD COMMON STOCK                     | CUSIP: M7516K103<br>LEI: 529900B2DSWE5V3SC292 | Long             | EC               |  | US        |      3810 | NS      | $1217904.60   | 0.92%             |  |  |  | No            |                  1 | On Loan: No      |
| WINGSTOP INC.                             | WINGSTOP INC COMMON STOCK                 | CUSIP: 974155103<br>LEI: 549300SSH3F8HPIM3Q47 | Long             | EC               |  | US        |      2529 | NS      | $636498.72    | 0.48%             |  |  |  | No            |                  1 | On Loan: No      |
| MOELIS & COMPANY                          | MOELIS & CO - CLASS A COMMON STOCK        | CUSIP: 60786M105<br>LEI: 549300891QNU7VTQUR83 | Long             | EC               |  | US        |     20977 | NS      | $1496079.64   | 1.12%             |  |  |  | No            |                  1 | On Loan: No      |
| The Descartes Systems Group Inc.          | DESCARTES SYSTEMS GRP/THE COMMON STOCK    | CUSIP: 249906108<br>LEI: N/A                  | Long             | EC               |  | US        |     10275 | NS      | $968213.25    | 0.73%             |  |  |  | No            |                  1 | On Loan: No      |
| INSMED INCORPORATED                       | INSMED INC COMMON STOCK                   | CUSIP: 457669307<br>LEI: 529900Q55QAG41CCAC11 | Long             | EC               |  | US        |     22711 | NS      | $3270611.11   | 2.46%             |  |  |  | No            |                  1 | On Loan: No      |
| SEACOAST BANKING CORPORATION OF FLORIDA   | SEACOAST BANKING CORP/FL COMMON STOCK     | CUSIP: 811707801<br>LEI: 549300V6IC06XYQYPG88 | Long             | EC               |  | US        |     38335 | NS      | $1166534.05   | 0.88%             |  |  |  | No            |                  1 | On Loan: No      |
| iShares Russell 2000 ETF                  | ISHARES RUSSELL 2000 ETF MUTUAL FUND      | CUSIP: 464287655<br>LEI: N/A                  | Long             | EC               | RF                | US        |     17762 | NS      | $4297693.52   | 3.23%             |  |  |  | No            |                  1 | On Loan: No      |
| HARROW, INC.                              | HARROW INC COMMON STOCK                   | CUSIP: 415858109<br>LEI: N/A                  | Long             | EC               |  | US        |     19136 | NS      | $921972.48    | 0.69%             |  |  |  | No            |                  1 | On Loan: No      |
| KRATOS DEFENSE & SECURITY SOLUTIONS, INC. | KRATOS DEFENSE & SECURITY COMMON STOCK    | CUSIP: 50077B207<br>LEI: 5493000EKBN0UY1F3F88 | Long             | EC               |  | US        |     56288 | NS      | $5143034.56   | 3.87%             |  |  |  | No            |                  1 | On Loan: No      |
| CYTOKINETICS, INCORPORATED                | CYTOKINETICS INC COMMON STOCK             | CUSIP: 23282W605<br>LEI: 549300BE5DY1HW7IHA64 | Long             | EC               |  | US        |     12555 | NS      | $690022.80    | 0.52%             |  |  |  | No            |                  1 | On Loan: No      |
| MR COOPER GROUP INC                       | MR COOPER GROUP INC COMMON STOCK          | CUSIP: 62482R107<br>LEI: N/A                  | Long             | EC               |  | US        |      6122 | NS      | $1290456.38   | 0.97%             |  |  |  | No            |                  1 | On Loan: No      |
| CARPENTER TECHNOLOGY CORPORATION          | CARPENTER TECHNOLOGY COMMON STOCK         | CUSIP: 144285103<br>LEI: DX6I6ZD3X5WNNCDJKP85 | Long             | EC               |  | US        |      8056 | NS      | $1978070.24   | 1.49%             |  |  |  | No            |                  1 | On Loan: No      |
| Xenon Pharmaceuticals Inc                 | XENON PHARMACEUTICALS INC COMMON STOCK    | CUSIP: 98420N105<br>LEI: 549300XV44Q9Z1MIPQ03 | Long             | EC               |  | US        |     21475 | NS      | $862221.25    | 0.65%             |  |  |  | No            |                  1 | On Loan: No      |
| VARONIS SYSTEMS, INC.                     | VARONIS SYSTEMS INC COMMON STOCK          | CUSIP: 922280102<br>LEI: 549300SHIVNRRH7STS26 | Long             | EC               |  | US        |     21309 | NS      | $1224628.23   | 0.92%             |  |  |  | No            |                  1 | On Loan: No      |
| GATX CORPORATION                          | GATX CORP COMMON STOCK                    | CUSIP: 361448103<br>LEI: 549300IHYHCQP2PIR591 | Long             | EC               |  | US        |      5597 | NS      | $978355.60    | 0.74%             |  |  |  | No            |                  1 | On Loan: No      |
| REV GROUP, INC.                           | REV GROUP INC COMMON STOCK                | CUSIP: 749527107<br>LEI: 549300SRD0SIG5ZZ3X20 | Long             | EC               |  | US        |     56976 | NS      | $3228829.92   | 2.43%             |  |  |  | No            |                  1 | On Loan: No      |
| Oric Pharmaceuticals Inc                  | ORIC PHARMACEUTICALS INC COMMON STOCK     | CUSIP: 68622P109<br>LEI: 54930033FJRNEYBW0L25 | Long             | EC               |  | US        |     35417 | NS      | $425004.00    | 0.32%             |  |  |  | No            |                  1 | On Loan: No      |
| CONSTRUCTION PARTNERS, INC.               | CONSTRUCTION PARTNERS INC-A COMMON STOCK  | CUSIP: 21044C107<br>LEI: 549300MHLFL4E8JLZU44 | Long             | EC               |  | US        |     24759 | NS      | $3144393.00   | 2.36%             |  |  |  | No            |                  1 | On Loan: No      |
| MAGNOLIA OIL & GAS CORPORATION            | MAGNOLIA OIL & GAS CORP - A COMMON STOCK  | CUSIP: 559663109<br>LEI: N/A                  | Long             | EC               |  | US        |     45791 | NS      | $1093031.17   | 0.82%             |  |  |  | No            |                  1 | On Loan: No      |
| Revolution Medicines Inc                  | REVOLUTION MEDICINES INC COMMON STOCK     | CUSIP: 76155X100<br>LEI: 549300JU3X0LBCQ65892 | Long             | EC               |  | US        |     52751 | NS      | $2463471.70   | 1.85%             |  |  |  | No            |                  1 | On Loan: No      |
| Kymera Therapeutics Inc                   | KYMERA THERAPEUTICS INC COMMON STOCK      | CUSIP: 501575104<br>LEI: N/A                  | Long             | EC               |  | US        |     10275 | NS      | $581565.00    | 0.44%             |  |  |  | No            |                  1 | On Loan: No      |
| WIX.COM LTD                               | WIX.COM LTD COMMON STOCK                  | CUSIP: M98068105<br>LEI: 5493008P6N29Q1AG9464 | Long             | EC               |  | US        |      5757 | NS      | $1022615.91   | 0.77%             |  |  |  | No            |                  1 | On Loan: No      |
| Oklo Inc                                  | OKLO INC COMMON STOCK                     | CUSIP: 02156V109<br>LEI: N/A                  | Long             | EC               |  | US        |      6137 | NS      | $685073.31    | 0.51%             |  |  |  | No            |                  1 | On Loan: No      |
| Crane Co                                  | CRANE CO COMMON STOCK                     | CUSIP: 224408104<br>LEI: 5493000CQRQOTHUODL75 | Long             | EC               |  | US        |      5830 | NS      | $1073536.20   | 0.81%             |  |  |  | No            |                  1 | On Loan: No      |
| CENTRUS ENERGY CORP.                      | CENTRUS ENERGY CORP-CLASS A COMMON STOCK  | CUSIP: 15643U104<br>LEI: 549300G6VDK9G8276661 | Long             | EC               |  | US        |      5638 | NS      | $1748174.66   | 1.31%             |  |  |  | No            |                  1 | On Loan: No      |
| MODINE MANUFACTURING COMPANY              | MODINE MANUFACTURING CO COMMON STOCK      | CUSIP: 607828100<br>LEI: Z35SZFYJR8GZZRSIUU09 | Long             | EC               |  | US        |     11891 | NS      | $1690424.56   | 1.27%             |  |  |  | No            |                  1 | On Loan: No      |
| BRIDGEBIO PHARMA, INC.                    | BRIDGEBIO PHARMA INC COMMON STOCK         | CUSIP: 10806X102<br>LEI: 54930028YG89VTY2J114 | Long             | EC               |  | US        |     41483 | NS      | $2154627.02   | 1.62%             |  |  |  | No            |                  1 | On Loan: No      |
| ROCKET LAB CORPORATION                    | ROCKET LAB CORP COMMON STOCK              | CUSIP: 773121108<br>LEI: N/A                  | Long             | EC               |  | US        |     32163 | NS      | $1540929.33   | 1.16%             |  |  |  | No            |                  1 | On Loan: No      |
| PLANET LABS PBC                           | PLANET LABS PBC COMMON STOCK              | CUSIP: 72703X106<br>LEI: 254900Q7PVI3HTQBRB44 | Long             | EC               |  | US        |     77568 | NS      | $1006832.64   | 0.76%             |  |  |  | No            |                  1 | On Loan: No      |
| Arcellx Inc                               | ARCELLX INC COMMON STOCK                  | CUSIP: 03940C100<br>LEI: N/A                  | Long             | EC               |  | US        |     11627 | NS      | $954576.70    | 0.72%             |  |  |  | No            |                  1 | On Loan: No      |
| ADMA BIOLOGICS, INC.                      | ADMA BIOLOGICS INC COMMON STOCK           | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               |  | US        |     23180 | NS      | $339818.80    | 0.26%             |  |  |  | No            |                  1 | On Loan: No      |
| APPFOLIO, INC.                            | APPFOLIO INC - A COMMON STOCK             | CUSIP: 03783C100<br>LEI: 529900OOUUGT6JFC0S15 | Long             | EC               |  | US        |      7209 | NS      | $1987232.94   | 1.49%             |  |  |  | No            |                  1 | On Loan: No      |
| Klaviyo Inc                               | KLAVIYO INC-A COMMON STOCK                | CUSIP: 49845K101<br>LEI: N/A                  | Long             | EC               |  | US        |     19786 | NS      | $547874.34    | 0.41%             |  |  |  | No            |                  1 | On Loan: No      |
| EMBRAER S.A.                              | EMBRAER SA-SPON ADR DEPOSITARY RECEIPT    | CUSIP: 29082A107<br>LEI: 549300EM51WYXFHUY333 | Long             | EC               |  | US        |     55376 | NS      | $3347479.20   | 2.52%             |  |  |  | No            |                  1 | On Loan: No      |
| SKYWEST, INC.                             | SKYWEST INC COMMON STOCK                  | CUSIP: 830879102<br>LEI: 529900UYS2KGS6Z42P09 | Long             | EC               |  | US        |     25116 | NS      | $2527171.92   | 1.90%             |  |  |  | No            |                  1 | On Loan: No      |
| PAR PACIFIC HOLDINGS, INC.                | PAR PACIFIC HOLDINGS INC COMMON STOCK     | CUSIP: 69888T207<br>LEI: 549300BTNS7MHSHRLR55 | Long             | EC               |  | US        |     71093 | NS      | $2518114.06   | 1.89%             |  |  |  | No            |                  1 | On Loan: No      |
| NORWEGIAN CRUISE LINE HOLDINGS LTD.       | NORWEGIAN CRUISE LINE HOLDIN COMMON STOCK | CUSIP: G66721104<br>LEI: N/A                  | Long             | EC               |  | US        |     84700 | NS      | $2086161.00   | 1.57%             |  |  |  | No            |                  1 | On Loan: No      |
| FTAI Aviation Ltd,                        | FTAI AVIATION LTD COMMON STOCK            | CUSIP: G3730V105<br>LEI: N/A                  | Long             | EC               |  | US        |     11684 | NS      | $1949592.24   | 1.47%             |  |  |  | No            |                  1 | On Loan: No      |
| Zeta Global Holdings Corp                 | ZETA GLOBAL HOLDINGS CORP-A COMMON STOCK  | CUSIP: 98956A105<br>LEI: 2549008P9XSJQHGQ9S27 | Long             | EC               |  | US        |     43233 | NS      | $859039.71    | 0.65%             |  |  |  | No            |                  1 | On Loan: No      |
| N/A                                       | BROWN BROTHERS HARRIMAN SWEEP INTEREST    | CUSIP: N/A<br>LEI: N/A                        | Long             | STIV             |  | US        |    521849 | PA      | $521848.99    | 0.39%             |  |  |  | No            |                  1 | On Loan: No      |
| LATTICE SEMICONDUCTOR CORPORATION         | LATTICE SEMICONDUCTOR CORP COMMON STOCK   | CUSIP: 518415104<br>LEI: 549300LRBBPZDQ2II567 | Long             | EC               |  | US        |     26588 | NS      | $1949432.16   | 1.47%             |  |  |  | No            |                  1 | On Loan: No      |
| Nuvalent Inc                              | NUVALENT INC-A COMMON STOCK               | CUSIP: 670703107<br>LEI: N/A                  | Long             | EC               |  | US        |     15418 | NS      | $1333348.64   | 1.00%             |  |  |  | No            |                  1 | On Loan: No      |
| THE CHEESECAKE FACTORY INCORPORATED       | CHEESECAKE FACTORY INC/THE COMMON STOCK   | CUSIP: 163072101<br>LEI: 529900872XMLK10SY247 | Long             | EC               |  | US        |     13832 | NS      | $755780.48    | 0.57%             |  |  |  | No            |                  1 | On Loan: No      |
| Joby Aviation Inc                         | JOBY AVIATION INC COMMON STOCK            | CUSIP: G65163100<br>LEI: N/A                  | Long             | EC               |  | US        |     63328 | NS      | $1022113.92   | 0.77%             |  |  |  | No            |                  1 | On Loan: No      |
| OSI SYSTEMS, INC.                         | OSI SYSTEMS INC COMMON STOCK              | CUSIP: 671044105<br>LEI: DDX3MPX1Y8YD30050X33 | Long             | EC               |  | US        |      8925 | NS      | $2224467.00   | 1.67%             |  |  |  | No            |                  1 | On Loan: No      |
| STUBHUB HOLDINGS, INC.                    | STUBHUB HOLDINGS INC-CLASS A COMMON STOCK | CUSIP: 86384P109<br>LEI: N/A                  | Long             | EC               |  | US        |     15803 | NS      | $266122.52    | 0.20%             |  |  |  | No            |                  1 | On Loan: No      |
| Disc Medicine Inc                         | DISC MEDICINE INC COMMON STOCK            | CUSIP: 254604101<br>LEI: N/A                  | Long             | EC               |  | US        |     17043 | NS      | $1126201.44   | 0.85%             |  |  |  | No            |                  1 | On Loan: No      |
| Akero Therapeutics Inc                    | AKERO THERAPEUTICS INC COMMON STOCK       | CUSIP: 00973Y108<br>LEI: 549300SI3KG74LBE2955 | Long             | EC               |  | US        |     12028 | NS      | $571089.44    | 0.43%             |  |  |  | No            |                  1 | On Loan: No      |
| MACOM TECHNOLOGY SOLUTIONS HOLDINGS, INC. | MACOM TECHNOLOGY SOLUTIONS H COMMON STOCK | CUSIP: 55405Y100<br>LEI: N/A                  | Long             | EC               |  | US        |      8759 | NS      | $1090407.91   | 0.82%             |  |  |  | No            |                  1 | On Loan: No      |
| RAMBUS INC.                               | RAMBUS INC COMMON STOCK                   | CUSIP: 750917106<br>LEI: 2549000211GDCQSLV833 | Long             | EC               |  | US        |      3315 | NS      | $345423.00    | 0.26%             |  |  |  | No            |                  1 | On Loan: No      |
| Rush Street Interactive Inc               | RUSH STREET INTERACTIVE INC COMMON STOCK  | CUSIP: 782011100<br>LEI: N/A                  | Long             | EC               |  | US        |    221442 | NS      | $4535132.16   | 3.41%             |  |  |  | No            |                  1 | On Loan: No      |
| LENDINGCLUB CORPORATION                   | LENDINGCLUB CORP COMMON STOCK             | CUSIP: 52603A208<br>LEI: 549300YC50YO7Y1OJR92 | Long             | EC               |  | US        |     57475 | NS      | $873045.25    | 0.66%             |  |  |  | No            |                  1 | On Loan: No      |
| FABRINET                                  | FABRINET COMMON STOCK                     | CUSIP: G3323L100<br>LEI: 5493004TETZ6IYF7CV44 | Long             | EC               |  | US        |      5226 | NS      | $1905504.12   | 1.43%             |  |  |  | No            |                  1 | On Loan: No      |
| CLEAN HARBORS, INC.                       | CLEAN HARBORS INC COMMON STOCK            | CUSIP: 184496107<br>LEI: 5493000SJVZVZJKHJF48 | Long             | EC               |  | US        |      5064 | NS      | $1175962.08   | 0.88%             |  |  |  | No            |                  1 | On Loan: No      |
| MIRION TECHNOLOGIES, INC.                 | MIRION TECHNOLOGIES INC COMMON STOCK      | CUSIP: 60471A101<br>LEI: 549300BNTOWVWFNVTJ65 | Long             | EC               |  | US        |    107435 | NS      | $2498938.10   | 1.88%             |  |  |  | No            |                  1 | On Loan: No      |
| BOOT BARN HOLDINGS, INC.                  | BOOT BARN HOLDINGS INC COMMON STOCK       | CUSIP: N/A<br>LEI: 529900QE1BFMYA3N4E71       | Long             | EC               |  | US        |     11613 | NS      | $1924506.36   | 1.45%             |  |  |  | No            |                  1 | On Loan: No      |
| BWX TECHNOLOGIES, INC.                    | BWX TECHNOLOGIES INC COMMON STOCK         | CUSIP: 05605H100<br>LEI: 549300NP85N265KWMS58 | Long             | EC               |  | US        |     35501 | NS      | $6545319.37   | 4.92%             |  |  |  | No            |                  1 | On Loan: No      |
| BLOOM ENERGY CORPORATION                  | BLOOM ENERGY CORP- A COMMON STOCK         | CUSIP: N/A<br>LEI: 549300XB5J9BFW5JXV97       | Long             | EC               |  | US        |     22033 | NS      | $1863330.81   | 1.40%             |  |  |  | No            |                  1 | On Loan: No      |
| BILL HOLDINGS, INC.                       | BILL HOLDINGS INC COMMON STOCK            | CUSIP: N/A<br>LEI: 549300IBF9VZZIGOZW63       | Long             | EC               |  | US        |     12477 | NS      | $660906.69    | 0.50%             |  |  |  | No            |                  1 | On Loan: No      |
| FLOWSERVE CORPORATION                     | FLOWSERVE CORP COMMON STOCK               | CUSIP: 34354P105<br>LEI: 6Y0GK87T6V7NJKZJVM41 | Long             | EC               |  | US        |     15896 | NS      | $844713.44    | 0.63%             |  |  |  | No            |                  1 | On Loan: No      |
| SPHERE ENTERTAINMENT CO.                  | SPHERE ENTERTAINMENT CO COMMON STOCK      | CUSIP: 55826T102<br>LEI: N/A                  | Long             | EC               |  | US        |     16151 | NS      | $1003300.12   | 0.75%             |  |  |  | No            |                  1 | On Loan: No      |
| URANIUM ENERGY CORP.                      | URANIUM ENERGY CORP COMMON STOCK          | CUSIP: 916896103<br>LEI: 549300VD69WD2USLIP04 | Long             | EC               |  | US        |     85117 | NS      | $1135460.78   | 0.85%             |  |  |  | No            |                  1 | On Loan: No      |

### Signature

**Date Signed:** 2025-09-30

**Name of Applicant:** THE ADVISORS' INNER CIRCLE III

**Signature:** Andrew Metzger

**Name of Signer:** Andrew Metzger

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