# EDGAR Filing Document

**Accession Number:** 0001593547
**File Stem:** 0002048251-26-004241
**Filing Date:** 2026-5
**Character Count:** 21378
**Document Hash:** af7ccd4fc995ccc775c0d2dbad6dd286
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0002048251-26-004241.hdr.sgml**: 20260527

**ACCESSION NUMBER**: 0002048251-26-004241

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 1

**CONFORMED PERIOD OF REPORT**: 20260331

**FILED AS OF DATE**: 20260527

**DATE AS OF CHANGE**: 20260527

**PERIOD START**: 20260930

**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:** 261027007

**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

### Brown Advisory International Value Select ETF (Series ID: S000101016)

| Class ID   | Class Name                                    | Ticker Symbol   |
|:---|:---|:---|
| C000270943 | Brown Advisory International Value Select ETF | BAIV            |

## 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:** Brown Advisory International Value Select ETF

- **b. EDGAR series identifier (if any):** S000101016

- **c. LEI of Series:** 254900HOB0VFG9U2BO06

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

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

- **b. Date as of which information is reported:** 2026-03-31

**Item A.4. Final filing**

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

### Fund Information

**Total Assets:** $66714700.89

**Total Liabilities:** $32593.33

**Net Assets:** $66682107.56

**Cash Not Reported:** $309302.89

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000270943 | -7.36%               |  |  |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $-50145.56               | $-3404661.00                               |
| Month 2  | $0.00                    | $10211.08                                  |
| Month 3  | $0.00                    | $0.00                                      |

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| DCC PUBLIC LIMITED COMPANY                            | DCC PLC COMMON STOCK                            | CUSIP: N/A<br>LEI: 213800UPS1QEE4TD3T45       | Long             | EC               |  | GB        |     20426 | NS      | $1248207.67   | 1.87%             |  |  |  | No            |                  1 | On Loan: No      |
| BASF SE                                               | BASF SE COMMON STOCK                            | CUSIP: N/A<br>LEI: 529900PM64WH8AF1E917       | Long             | EC               |  | DE        |     19856 | NS      | $1198818.30   | 1.80%             |  |  |  | No            |                  1 | On Loan: No      |
| VODAFONE GROUP PUBLIC LIMITED COMPANY                 | VODAFONE GROUP PLC COMMON STOCK                 | CUSIP: N/A<br>LEI: 213800TB53ELEUKM7Q61       | Long             | EC               |  | GB        |    908984 | NS      | $1358105.91   | 2.04%             |  |  |  | No            |                  1 | On Loan: No      |
| EDENRED SE                                            | EDENRED COMMON STOCK                            | CUSIP: N/A<br>LEI: 9695006LOD5B2D7Y0N70       | Long             | EC               |  | FR        |     71994 | NS      | $1415160.32   | 2.12%             |  |  |  | No            |                  1 | On Loan: No      |
| ICON PUBLIC LIMITED COMPANY                           | ICON PLC COMMON STOCK                           | CUSIP: G4705A100<br>LEI: 6354008SRQGEMC4XFI67 | Long             | EC               |  | US        |     20540 | NS      | $2272956.40   | 3.41%             |  |  |  | No            |                  1 | On Loan: No      |
| Sumitomo Mitsui Trust Group, Inc.                     | SUMITOMO MITSUI TRUST GROUP COMMON STOCK        | CUSIP: N/A<br>LEI: 353800P843RLCDBLNT17       | Long             | EC               |  | JP        |     45600 | NS      | $1405061.29   | 2.11%             |  |  |  | No            |                  1 | On Loan: No      |
| ABC-MART,INC.                                         | ABC-MART INC COMMON STOCK                       | CUSIP: N/A<br>LEI: 353800AXWW4CMTSJWL33       | Long             | EC               |  | JP        |     91200 | NS      | $1447769.19   | 2.17%             |  |  |  | No            |                  1 | On Loan: No      |
| Adecco Group AG                                       | ADECCO GROUP AG-REG COMMON STOCK                | CUSIP: N/A<br>LEI: NI14Y5UMU60O7JE9P611       | Long             | EC               |  | CH        |     53526 | NS      | $1264960.16   | 1.90%             |  |  |  | No            |                  1 | On Loan: No      |
| DENTSU GROUP INC.                                     | DENTSU GROUP INC COMMON STOCK                   | CUSIP: N/A<br>LEI: 5299007PBBE83ZLJZG91       | Long             | EC               |  | JP        |     68400 | NS      | $1160422.40   | 1.74%             |  |  |  | No            |                  1 | On Loan: No      |
| FDJ UNITED                                            | FDJ UNITED COMMON STOCK                         | CUSIP: N/A<br>LEI: 969500R4CLSQFTYYI535       | Long             | EC               |  | FR        |     48376 | NS      | $1403511.56   | 2.10%             |  |  |  | Yes           |                  1 | On Loan: No      |
| SODEXO SA                                             | SODEXO SA COMMON STOCK                          | CUSIP: N/A<br>LEI: 969500LCBOG12HXPYM84       | Long             | EC               |  | FR        |     25556 | NS      | $1298559.28   | 1.95%             |  |  |  | No            |                  1 | On Loan: No      |
| SUNDRUG CO.,LTD.                                      | SUNDRUG CO LTD COMMON STOCK                     | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               |  | JP        |     57000 | NS      | $1400905.15   | 2.10%             |  |  |  | No            |                  1 | On Loan: No      |
| TERNIUM S.A.                                          | TERNIUM SA-SPONSORED ADR DEPOSITARY RECEIPT     | CUSIP: 880890108<br>LEI: 529900QG4KU23TEI2E46 | Long             | EC               |  | US        |     24872 | NS      | $998610.80    | 1.50%             |  |  |  | No            |                  1 | On Loan: No      |
| Continental Aktiengesellschaft                        | CONTINENTAL AG COMMON STOCK                     | CUSIP: N/A<br>LEI: 529900A7YD9C0LLXM621       | Long             | EC               |  | DE        |     12104 | NS      | $831199.91    | 1.25%             |  |  |  | No            |                  1 | On Loan: No      |
| Brenntag SE                                           | BRENNTAG SE COMMON STOCK                        | CUSIP: N/A<br>LEI: NNROIXVWJ7CPSR27SV97       | Long             | EC               |  | DE        |     36470 | NS      | $2406961.17   | 3.61%             |  |  |  | No            |                  1 | On Loan: No      |
| BARCLAYS PLC                                          | BARCLAYS PLC COMMON STOCK                       | CUSIP: N/A<br>LEI: 213800LBQA1Y9L22JB70       | Long             | EC               |  | GB        |    229702 | NS      | $1179679.34   | 1.77%             |  |  |  | No            |                  1 | On Loan: No      |
| Petroleo Brasileiro S.A. (Petrobras)                  | PETROLEO BRASIL-SP PREF  ADR DEPOSITARY RECEIPT | CUSIP: 71654V101<br>LEI: 5493000J801JZRCMFE49 | Long             | EC               |  | US        |     69828 | NS      | $1309275.00   | 1.96%             |  |  |  | No            |                  1 | On Loan: No      |
| Wolters Kluwer N.V.                                   | WOLTERS KLUWER COMMON STOCK                     | CUSIP: N/A<br>LEI: 724500TEM53I0U077B74       | Long             | EC               |  | NL        |     12507 | NS      | $931215.97    | 1.40%             |  |  |  | No            |                  1 | On Loan: No      |
| Raiffeisen Bank International AG                      | RAIFFEISEN BANK INTERNATIONA COMMON STOCK       | CUSIP: N/A<br>LEI: 9ZHRYM6F437SQJ6OUG95       | Long             | EC               |  | AT        |     29318 | NS      | $1228254.96   | 1.84%             |  |  |  | No            |                  1 | On Loan: No      |
| Sompo Holdings, Inc.                                  | SOMPO HOLDINGS INC COMMON STOCK                 | CUSIP: N/A<br>LEI: 353800CWW4SRGEYEB512       | Long             | EC               |  | JP        |     22800 | NS      | $861610.41    | 1.29%             |  |  |  | No            |                  1 | On Loan: No      |
| Henkel AG & Co. KGaA                                  | Henkel AG & Co KGaA PREFERRED STOCK             | CUSIP: N/A<br>LEI: 549300VZCL1HTH4O4Y49       | Long             | EP               |  | DE        |     18032 | NS      | $1377487.73   | 2.07%             |  |  |  | No            |                  1 | On Loan: No      |
| GECINA SA                                             | GECINA SA REIT                                  | CUSIP: N/A<br>LEI: 9695003E4MMA10IBTR26       | Long             | EC               |  | FR        |     11876 | NS      | $927748.36    | 1.39%             |  |  |  | No            |                  1 | On Loan: No      |
| Fresenius Medical Care AG                             | FRESENIUS MEDICAL CARE AG COMMON STOCK          | CUSIP: N/A<br>LEI: 549300CP8NY40UP89Q40       | Long             | EC               |  | DE        |     35608 | NS      | $1582441.02   | 2.37%             |  |  |  | No            |                  1 | On Loan: No      |
| BT GROUP PLC                                          | BT GROUP PLC COMMON STOCK                       | CUSIP: N/A<br>LEI: 213800LRO7NS5CYQMN21       | Long             | EC               |  | GB        |    252408 | NS      | $700652.55    | 1.05%             |  |  |  | No            |                  1 | On Loan: No      |
| Koninklijke Ahold Delhaize N.V.                       | KONINKLIJKE AHOLD DELHAIZE N COMMON STOCK       | CUSIP: N/A<br>LEI: 724500C9GNBV20UYRX36       | Long             | EC               |  | NL        |     29318 | NS      | $1361011.89   | 2.04%             |  |  |  | No            |                  1 | On Loan: No      |
| BRITISH AMERICAN TOBACCO P.L.C.                       | BRITISH AMERICAN TOB-SP ADR DEPOSITARY RECEIPT  | CUSIP: 110448107<br>LEI: 213800FKA5MF17RJKT63 | Long             | EC               |  | US        |     31712 | NS      | $1854200.64   | 2.78%             |  |  |  | No            |                  1 | On Loan: No      |
| PRUDENTIAL PUBLIC LIMITED COMPANY                     | PRUDENTIAL PLC COMMON STOCK                     | CUSIP: N/A<br>LEI: 5493001Z3ZE83NGK8Y12       | Long             | EC               |  | GB        |     95498 | NS      | $1307191.21   | 1.96%             |  |  |  | No            |                  1 | On Loan: No      |
| RENAULT SA                                            | RENAULT SA COMMON STOCK                         | CUSIP: N/A<br>LEI: 969500F7JLTX36OUI695       | Long             | EC               |  | FR        |     27836 | NS      | $930753.22    | 1.40%             |  |  |  | No            |                  1 | On Loan: No      |
| BNP PARIBAS SA                                        | BNP PARIBAS COMMON STOCK                        | CUSIP: N/A<br>LEI: R0MUWSFPU8MPRO8K5P83       | Long             | EC               |  | FR        |     12788 | NS      | $1193340.38   | 1.79%             |  |  |  | No            |                  1 | On Loan: No      |
| ABN AMRO Bank N.V.                                    | ABN AMRO BANK NV-CVA DEPOSITARY RECEIPT         | CUSIP: N/A<br>LEI: BFXS5XCH7N0Y05NIXW11       | Long             | EC               |  | NL        |     32188 | NS      | $1005434.59   | 1.51%             |  |  |  | Yes           |                  1 | On Loan: No      |
| DASSAULT SYSTEMES SE                                  | DASSAULT SYSTEMES SE COMMON STOCK               | CUSIP: N/A<br>LEI: 96950065LBWY0APQIM86       | Long             | EC               |  | FR        |     52138 | NS      | $1037473.51   | 1.56%             |  |  |  | No            |                  1 | On Loan: No      |
| JAPAN POST BANK Co.,Ltd.                              | JAPAN POST BANK CO LTD COMMON STOCK             | CUSIP: N/A<br>LEI: 5493006JVO6N2HC2XZ76       | Long             | EC               |  | JP        |     68400 | NS      | $1082387.33   | 1.62%             |  |  |  | No            |                  1 | On Loan: No      |
| BANK OF IRELAND GROUP PUBLIC LIMITED COMPANY          | BANK OF IRELAND GROUP PLC COMMON STOCK          | CUSIP: N/A<br>LEI: 635400C8EK6DRI12LJ39       | Long             | EC               |  | IE        |     54552 | NS      | $970169.51    | 1.45%             |  |  |  | No            |                  1 | On Loan: No      |
| MS&AD Insurance Group Holdings, Inc.                  | MS&AD INSURANCE GROUP HOLDIN COMMON STOCK       | CUSIP: N/A<br>LEI: 529900CXROT5S2HMMP26       | Long             | EC               |  | JP        |     34200 | NS      | $866769.75    | 1.30%             |  |  |  | No            |                  1 | On Loan: No      |
| LAND SECURITIES GROUP PLC                             | LAND SECURITIES GROUP PLC REIT                  | CUSIP: N/A<br>LEI: 213800V8IAVKS37D6B88       | Long             | EC               |  | GB        |    141728 | NS      | $1033542.36   | 1.55%             |  |  |  | No            |                  1 | On Loan: No      |
| Yamaha Motor Co., Ltd.                                | YAMAHA MOTOR CO LTD COMMON STOCK                | CUSIP: N/A<br>LEI: 3538004LR5NXILJDHY88       | Long             | EC               |  | JP        |    136800 | NS      | $967806.90    | 1.45%             |  |  |  | No            |                  1 | On Loan: No      |
| Richter Gedeon Vegyeszeti Gyar Nyilvanosan Mukodo Rt. | RICHTER GEDEON NYRT COMMON STOCK                | CUSIP: N/A<br>LEI: 549300J6ZJW5IH4WEE46       | Long             | EC               |  | HU        |     38686 | NS      | $1366624.70   | 2.05%             |  |  |  | No            |                  1 | On Loan: No      |
| SANOFI SA                                             | SANOFI-ADR DEPOSITARY RECEIPT                   | CUSIP: 80105N105<br>LEI: 549300E9PC51EN656011 | Long             | EC               |  | US        |     45184 | NS      | $2176965.12   | 3.26%             |  |  |  | No            |                  1 | On Loan: No      |
| NICE LTD                                              | NICE LTD - SPON ADR DEPOSITARY RECEIPT          | CUSIP: 653656108<br>LEI: 254900YTY4EF5Z4W0A51 | Long             | EC               |  | US        |     12446 | NS      | $1372295.96   | 2.06%             |  |  |  | No            |                  1 | On Loan: No      |
| DAITO TRUST CONSTRUCTION CO.,LTD.                     | DAITO TRUST CONSTRUCT CO LTD COMMON STOCK       | CUSIP: N/A<br>LEI: 353800QQ4DRI3KXS3038       | Long             | EC               |  | JP        |     45600 | NS      | $1054225.91   | 1.58%             |  |  |  | No            |                  1 | On Loan: No      |
| Evonik Industries AG                                  | EVONIK INDUSTRIES AG COMMON STOCK               | CUSIP: N/A<br>LEI: 41GUOJQTALQHLF39XJ34       | Long             | EC               |  | DE        |     60252 | NS      | $1162830.97   | 1.74%             |  |  |  | No            |                  1 | On Loan: No      |
| WPP PLC                                               | WPP PLC COMMON STOCK                            | CUSIP: N/A<br>LEI: 549300LSGBXPYHXGDT93       | Long             | EC               |  | GB        |    369700 | NS      | $1138371.00   | 1.71%             |  |  |  | No            |                  1 | On Loan: No      |
| ASSOCIATED BRITISH FOODS PLC                          | ASSOCIATED BRITISH FOODS PLC COMMON STOCK       | CUSIP: N/A<br>LEI: GBQKSY6W7G0OHCQ8OQ72       | Long             | EC               |  | GB        |     53868 | NS      | $1332990.06   | 2.00%             |  |  |  | No            |                  1 | On Loan: No      |
| Randstad N.V.                                         | RANDSTAD NV COMMON STOCK                        | CUSIP: N/A<br>LEI: 7245009EAAUUQJ0U4T57       | Long             | EC               |  | NL        |     45412 | NS      | $1167348.45   | 1.75%             |  |  |  | No            |                  1 | On Loan: No      |
| BURBERRY GROUP PLC                                    | BURBERRY GROUP PLC COMMON STOCK                 | CUSIP: N/A<br>LEI: 213800PE1KEFCNFR1R50       | Long             | EC               |  | GB        |     66180 | NS      | $949517.88    | 1.42%             |  |  |  | No            |                  1 | On Loan: No      |
| BRITISH LAND COMPANY PUBLIC LIMITED COMPANY(THE)      | BRITISH LAND CO PLC REIT                        | CUSIP: N/A<br>LEI: RV5B68J2GV3QGMRPW209       | Long             | EC               |  | GB        |    194094 | NS      | $909655.66    | 1.36%             |  |  |  | No            |                  1 | On Loan: No      |
| IMPERIAL BRANDS PLC                                   | IMPERIAL BRANDS PLC COMMON STOCK                | CUSIP: N/A<br>LEI: 549300DFVPOB67JL3A42       | Long             | EC               |  | GB        |     28520 | NS      | $1149720.96   | 1.72%             |  |  |  | No            |                  1 | On Loan: No      |
| AIB GROUP PUBLIC LIMITED COMPANY                      | AIB GROUP PLC COMMON STOCK                      | CUSIP: N/A<br>LEI: 635400AKJBGNS5WNQL34       | Long             | EC               |  | IE        |    155180 | NS      | $1611876.60   | 2.42%             |  |  |  | No            |                  1 | On Loan: No      |
| The Swatch Group Ltd                                  | SWATCH GROUP AG/THE-BR COMMON STOCK             | CUSIP: N/A<br>LEI: 529900NTES2LEON1JZ55       | Long             | EC               |  | CH        |      3070 | NS      | $662864.79    | 0.99%             |  |  |  | No            |                  1 | On Loan: No      |
| AUMOVIO SE                                            | AUMOVIO SE COMMON STOCK                         | CUSIP: N/A<br>LEI: 391200IGI9RQ7VTOK384       | Long             | EC               |  | DE        |     21566 | NS      | $830436.36    | 1.25%             |  |  |  | No            |                  1 | On Loan: No      |
| Repsol S.A.                                           | REPSOL SA COMMON STOCK                          | CUSIP: N/A<br>LEI: BSYCX13Y0NOTV14V9N85       | Long             | EC               |  | ES        |     48604 | NS      | $1380445.44   | 2.07%             |  |  |  | No            |                  1 | On Loan: No      |
| Banco Santander, S.A.                                 | BANCO SANTANDER SA COMMON STOCK                 | CUSIP: N/A<br>LEI: 5493006QMFDDMYWIAM13       | Long             | EC               |  | ES        |     85238 | NS      | $932029.75    | 1.40%             |  |  |  | No            |                  1 | On Loan: No      |
| The Magnum Ice Cream Company N.V.                     | MAGNUM ICE CREAM CO NV/THE COMMON STOCK         | CUSIP: N/A<br>LEI: 25490052LLF3XH6G9847       | Long             | EC               |  | NL        |    142640 | NS      | $2088897.80   | 3.13%             |  |  |  | No            |                  1 | On Loan: No      |

### Signature

**Date Signed:** 2026-03-31

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

**Signature:** Andrew Metzger

**Name of Signer:** Andrew Metzger

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