# EDGAR Filing Document

**Accession Number:** 0001593547
**File Stem:** 0002048251-25-002658
**Filing Date:** 2025-11
**Character Count:** 11536
**Document Hash:** d3b5eecf91bb1d3397311aa60d88de45
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0002048251-25-002658.hdr.sgml**: 20251128

**ACCESSION NUMBER**: 0002048251-25-002658

**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:** 251532672

**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

### SouthernSun U.S. Equity Fund (Series ID: S000070199)

| Class ID   | Class Name     | Ticker Symbol   |
|:---|:---|:---|
| C000223248 | Class N Shares | SSEFX           |
| C000223249 | Class I Shares | SSEIX           |

## 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:** SouthernSun U.S. Equity Fund

- **b. EDGAR series identifier (if any):** S000070199

- **c. LEI of Series:** 54930085KT1KEQP3UQ57

**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:** $43448062.45

**Total Liabilities:** $80996.99

**Net Assets:** $43367065.46

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000223249 | -2.32%               | 4.18%                | 6.24%                |
| Class ID C000223248 | -2.25%               | 4.18%                | 6.24%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $863186.97               | $-1845757.52                               |
| Month 2  | $424803.43               | $1543969.10                                |
| Month 3  | $1010544.79              | $1912566.80                                |

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| MODINE MANUFACTURING COMPANY         | MODINE MANUFACTURING CO COMMON STOCK      | CUSIP: 607828100<br>LEI: Z35SZFYJR8GZZRSIUU09 | Long             | EC               |  | US        |     15971 | NS      | $2270437.36   | 5.24%             |  |  |  | No            |                  1 | On Loan: No      |
| API GROUP CORPORATION                | API GROUP CORP COMMON STOCK               | CUSIP: 00187Y100<br>LEI: 213800NZT1VX6PZ7BT53 | Long             | EC               |  | US        |     74758 | NS      | $2569432.46   | 5.92%             |  |  |  | Yes           |                  1 | On Loan: No      |
| TREX COMPANY, INC.                   | TREX COMPANY INC COMMON STOCK             | CUSIP: 89531P105<br>LEI: N/A                  | Long             | EC               |  | US        |     13397 | NS      | $692222.99    | 1.60%             |  |  |  | No            |                  1 | On Loan: No      |
| THOR INDUSTRIES, INC.                | THOR INDUSTRIES INC COMMON STOCK          | CUSIP: 885160101<br>LEI: 254900XZO1228PDSG060 | Long             | EC               |  | US        |      8165 | NS      | $846628.85    | 1.95%             |  |  |  | No            |                  1 | On Loan: No      |
| BOOT BARN HOLDINGS, INC.             | BOOT BARN HOLDINGS INC COMMON STOCK       | CUSIP: N/A<br>LEI: 529900QE1BFMYA3N4E71       | Long             | EC               |  | US        |     12321 | NS      | $2041836.12   | 4.71%             |  |  |  | No            |                  1 | On Loan: No      |
| THE BRINK'S COMPANY                  | BRINK'S CO/THE COMMON STOCK               | CUSIP: 109696104<br>LEI: XFP140TFNOQMIVFTVQ13 | Long             | EC               |  | US        |     24078 | NS      | $2813755.08   | 6.49%             |  |  |  | No            |                  1 | On Loan: No      |
| MURPHY USA INC.                      | MURPHY USA INC COMMON STOCK               | CUSIP: 626755102<br>LEI: 549300Y081F8XIKQIO72 | Long             | EC               |  | US        |      5103 | NS      | $1981290.78   | 4.57%             |  |  |  | No            |                  1 | On Loan: No      |
| GENERAC HOLDINGS INC.                | GENERAC HOLDINGS INC COMMON STOCK         | CUSIP: 368736104<br>LEI: 529900S2H2AHJHSFFI84 | Long             | EC               |  | US        |     12153 | NS      | $2034412.20   | 4.69%             |  |  |  | No            |                  1 | On Loan: No      |
| N/A                                  | BROWN BROTHERS HARRIMAN SWEEP INTEREST    | CUSIP: N/A<br>LEI: N/A                        | Long             | STIV             |  | US        |    662200 | PA      | $662199.76    | 1.53%             |  |  |  | No            |                  1 | On Loan: No      |
| AGCO CORPORATION                     | AGCO CORP COMMON STOCK                    | CUSIP: N/A<br>LEI: LYOM0B2GCF1JWXK5ZG04       | Long             | EC               |  | US        |     12848 | NS      | $1375635.36   | 3.17%             |  |  |  | No            |                  1 | On Loan: No      |
| CRANE NXT, CO.                       | CRANE NXT CO COMMON STOCK                 | CUSIP: 224441105<br>LEI: 549300EXNPSXEWUD3N21 | Long             | EC               |  | US        |     27885 | NS      | $1870246.95   | 4.31%             |  |  |  | No            |                  1 | On Loan: No      |
| FLOOR & DECOR HOLDINGS, INC.         | FLOOR & DECOR HOLDINGS INC-A COMMON STOCK | CUSIP: 339750101<br>LEI: 549300M5FR3N688XGQ36 | Long             | EC               |  | US        |     16515 | NS      | $1217155.50   | 2.81%             |  |  |  | No            |                  1 | On Loan: No      |
| MSA Safety Incorporated              | MSA SAFETY INC COMMON STOCK               | CUSIP: 553498106<br>LEI: 529900DVA3258XK11O39 | Long             | EC               |  | US        |      8617 | NS      | $1482727.19   | 3.42%             |  |  |  | No            |                  1 | On Loan: No      |
| BELDEN INC.                          | BELDEN INC COMMON STOCK                   | CUSIP: N/A<br>LEI: 68BKYO1JC791TTJHUE82       | Long             | EC               |  | US        |     16103 | NS      | $1936707.81   | 4.47%             |  |  |  | No            |                  1 | On Loan: No      |
| U. S. PHYSICAL THERAPY, INC.         | U.S. PHYSICAL THERAPY INC COMMON STOCK    | CUSIP: 90337L108<br>LEI: 529900KL1UXQYFIOMY96 | Long             | EC               |  | US        |     28037 | NS      | $2381743.15   | 5.49%             |  |  |  | No            |                  1 | On Loan: No      |
| LOUISIANA-PACIFIC CORPORATION        | LOUISIANA-PACIFIC CORP COMMON STOCK       | CUSIP: 546347105<br>LEI: 549300C7E2UAO5BVRR75 | Long             | EC               |  | US        |     23916 | NS      | $2124697.44   | 4.90%             |  |  |  | No            |                  1 | On Loan: No      |
| THE TIMKEN COMPANY                   | TIMKEN CO COMMON STOCK                    | CUSIP: 887389104<br>LEI: B0I35MLPFXZSE70ASS73 | Long             | EC               |  | US        |     19209 | NS      | $1444132.62   | 3.33%             |  |  |  | No            |                  1 | On Loan: No      |
| DYCOM INDUSTRIES, INC.               | DYCOM INDUSTRIES INC COMMON STOCK         | CUSIP: 267475101<br>LEI: 549300F56EKTHQI3WT60 | Long             | EC               |  | US        |      1663 | NS      | $485196.88    | 1.12%             |  |  |  | No            |                  1 | On Loan: No      |
| THE BOSTON BEER COMPANY, INC.        | BOSTON BEER COMPANY INC-A COMMON STOCK    | CUSIP: 100557107<br>LEI: 529900Q02MQ0DCQNRM58 | Long             | EC               |  | US        |      5093 | NS      | $1076762.06   | 2.48%             |  |  |  | No            |                  1 | On Loan: No      |
| INGEVITY CORPORATION                 | INGEVITY CORP COMMON STOCK                | CUSIP: 45688C107<br>LEI: 5493009UTFC4B5IMGF87 | Long             | EC               |  | US        |     24071 | NS      | $1328478.49   | 3.06%             |  |  |  | No            |                  1 | On Loan: No      |
| VALMONT INDUSTRIES, INC.             | VALMONT INDUSTRIES COMMON STOCK           | CUSIP: 920253101<br>LEI: 5493009ZGZJJ8F77JN08 | Long             | EC               |  | US        |      5746 | NS      | $2227896.58   | 5.14%             |  |  |  | No            |                  1 | On Loan: No      |
| BROADRIDGE FINANCIAL SOLUTIONS, INC. | BROADRIDGE FINANCIAL SOLUTIO COMMON STOCK | CUSIP: 11133T103<br>LEI: 549300KZDJZQ2YIHRC28 | Long             | EC               |  | US        |     11592 | NS      | $2760866.64   | 6.37%             |  |  |  | No            |                  1 | On Loan: No      |
| WATSCO, INC.                         | WATSCO INC COMMON STOCK                   | CUSIP: 942622200<br>LEI: 549300F1Y3LN5BX5WN75 | Long             | EC               |  | US        |      4222 | NS      | $1706954.60   | 3.94%             |  |  |  | No            |                  1 | On Loan: No      |
| ARMSTRONG WORLD INDUSTRIES, INC.     | ARMSTRONG WORLD INDUSTRIES COMMON STOCK   | CUSIP: 04247X102<br>LEI: KXMRXXOJ88Q45Y45MG74 | Long             | EC               |  | US        |     10225 | NS      | $2004202.25   | 4.62%             |  |  |  | No            |                  1 | On Loan: No      |
| DARLING INGREDIENTS INC.             | DARLING INGREDIENTS INC COMMON STOCK      | CUSIP: 237266101<br>LEI: L1N0SPPKS7EXZYUMZ898 | Long             | EC               |  | US        |     66889 | NS      | $2064863.43   | 4.76%             |  |  |  | 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