# EDGAR Filing Document

**Accession Number:** 0001593547
**File Stem:** 0001752724-25-211117
**Filing Date:** 2025-8
**Character Count:** 22794
**Document Hash:** 0f9a3e8f70747323961e0163d1ac09ff
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001752724-25-211117.hdr.sgml**: 20250828

**ACCESSION NUMBER**: 0001752724-25-211117

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 1

**CONFORMED PERIOD OF REPORT**: 20250630

**FILED AS OF DATE**: 20250828

**DATE AS OF CHANGE**: 20250828

**PERIOD START**: 20251231

**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:** 251270107

**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

### ARGA EMERGING MARKETS VALUE FUND (Series ID: S000071562)

| Class ID   | Class Name           | Ticker Symbol   |
|:---|:---|:---|
| C000226875 | Institutional Shares | ARMIX           |

## 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:** ARGA Emerging Markets Value Fund

- **b. EDGAR series identifier (if any):** S000071562

- **c. LEI of Series:** 54930048ZFLXP7RHY777

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

- **a. Date of fiscal year-end:** 2025-12-31

- **b. Date as of which information is reported:** 2025-06-30

**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:** $1174068174.88

**Total Liabilities:** $2384755.69

**Net Assets:** $1171683419.19

**Cash Not Reported:** $55082037.75

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000226875 | 6.66%                | 5.76%                | 0.09%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $-537623.01              | $68100297.20                               |
| Month 2  | $-730503.07              | $53641040.77                               |
| Month 3  | $-1849105.35             | $-2637611.84                               |

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| ABSA GROUP LIMITED                                      | ABSA GROUP LTD COMMON STOCK                     | CUSIP: N/A<br>LEI: 2138006IPPRD4N6XLT30       | Long             | EC               |  | ZA        |   1735632 | NS      | $17275451.39  | 1.47%             |  |  |  | No            |                  1 | On Loan: No      |
| Alibaba Group Holding Limited                           | ALIBABA GROUP HOLDING LTD COMMON STOCK          | CUSIP: N/A<br>LEI: 5493001NTNQJDH60PM02       | Long             | EC               |  | HK        |   1256000 | NS      | $17779872.61  | 1.52%             |  |  |  | No            |                  1 | On Loan: No      |
| Alibaba Group Holding Limited                           | ALIBABA GROUP HOLDING-SP ADR DEPOSITARY RECEIPT | CUSIP: 01609W102<br>LEI: 5493001NTNQJDH60PM02 | Long             | EC               |  | US        |    146642 | NS      | $16630669.22  | 1.42%             |  |  |  | No            |                  1 | On Loan: No      |
| AK ALROSA PAO                                           | ALROSA PJSC COMMON STOCK                        | CUSIP: N/A<br>LEI: 894500DKUWVBYZLLE651       | Long             | EC               |  | RU        |    506080 | NS      | $0.65         | 0.00%             |  |  |  | No            |                  3 | On Loan: No      |
| B3 S.A - Brasil, Bolsa, Balcao                          | B3 SA-BRASIL BOLSA BALCAO COMMON STOCK          | CUSIP: N/A<br>LEI: 4GTK5S46E6H318LMDS44       | Long             | EC               |  | BR        |  12813500 | NS      | $34291341.96  | 2.93%             |  |  |  | No            |                  1 | On Loan: No      |
| Banco Bradesco S.A.                                     | BANCO BRADESCO S.A. COMMON STOCK                | CUSIP: N/A<br>LEI: 549300CTUU1RFXHQJE44       | Long             | EC               |  | BR        |   9858940 | NS      | $26257359.85  | 2.24%             |  |  |  | No            |                  1 | On Loan: No      |
| Banco Bradesco S.A.                                     | BANCO BRADESCO-ADR DEPOSITARY RECEIPT           | CUSIP: 059460303<br>LEI: 549300CTUU1RFXHQJE44 | Long             | EC               |  | US        |   9053719 | NS      | $27975991.71  | 2.39%             |  |  |  | No            |                  1 | On Loan: No      |
| PT Bank Rakyat Indonesia (Persero) Tbk                  | BANK RAKYAT INDONESIA PERSER COMMON STOCK       | CUSIP: N/A<br>LEI: 254900HB6S4B12GBNP64       | Long             | EC               |  | ID        |  67875600 | NS      | $15649423.35  | 1.34%             |  |  |  | No            |                  1 | On Loan: No      |
| Beijing New Building Materials Public Limited Company   | BEIJING NEW BUILDING MATER-A COMMON STOCK       | CUSIP: N/A<br>LEI: 3003000VY5ALEC09Q824       | Long             | EC               |  | CN        |   5790429 | NS      | $21408216.04  | 1.83%             |  |  |  | No            |                  1 | On Loan: No      |
| Beijing Oriental Yuhong Waterproof Technology Co., Ltd. | BEIJING ORIENTAL YUHONG-A COMMON STOCK          | CUSIP: N/A<br>LEI: 300300XMIXB7STDZWT60       | Long             | EC               |  | CN        |   8600312 | NS      | $12885528.63  | 1.10%             |  |  |  | No            |                  1 | On Loan: No      |
| BUDWEISER BREWING COMPANY APAC LIMITED                  | BUDWEISER BREWING CO APAC LT COMMON STOCK       | CUSIP: N/A<br>LEI: 549300YF1MR4GTF18132       | Long             | EC               |  | HK        |  20352300 | NS      | $20207465.89  | 1.72%             |  |  |  | Yes           |                  1 | On Loan: No      |
| CHAILEASE HOLDING COMPANY LIMITED                       | CHAILEASE HOLDING CO LTD COMMON STOCK           | CUSIP: N/A<br>LEI: 529900L76E6T0JCM3J27       | Long             | EC               |  | TW        |   2025068 | NS      | $8771010.20   | 0.75%             |  |  |  | No            |                  1 | On Loan: No      |
| CHINA JUSHI CO., LTD                                    | CHINA JUSHI CO LTD -A COMMON STOCK              | CUSIP: N/A<br>LEI: 300300JZBQ0FKI1TDH04       | Long             | EC               |  | CN        |  11559734 | NS      | $18387788.41  | 1.57%             |  |  |  | No            |                  1 | On Loan: No      |
| CHINA OVERSEAS LAND & INVESTMENT LTD.                   | CHINA OVERSEAS LAND & INVEST COMMON STOCK       | CUSIP: N/A<br>LEI: 529900I6W35GYKRIZ151       | Long             | EC               |  | HK        |  19824969 | NS      | $34558782.82  | 2.95%             |  |  |  | No            |                  1 | On Loan: No      |
| CREDICORP LTD.                                          | CREDICORP LTD COMMON STOCK                      | CUSIP: G2519Y108<br>LEI: 529900UYAEYQCQ2BKB17 | Long             | EC               |  | US        |     60993 | NS      | $13633155.36  | 1.16%             |  |  |  | No            |                  1 | On Loan: No      |
| DB INSURANCE CO.,LTD                                    | DB INSURANCE CO LTD COMMON STOCK                | CUSIP: N/A<br>LEI: 9884000ZF26VNJBWSJ91       | Long             | EC               |  | KR        |     90745 | NS      | $8280716.16   | 0.71%             |  |  |  | No            |                  1 | On Loan: No      |
| BROWN BROTHERS HARRIMAN & CO.                           | FX Forward Contract: USD/HKD SETTLE 2025-07-02  | CUSIP: N/A<br>LEI: 5493006KMX1VFTPYPW14       | N/A              | DFE              |  | US        |         1 | NC      | $-1.73        | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| Galaxy Entertainment Group Limited                      | GALAXY ENTERTAINMENT GROUP L COMMON STOCK       | CUSIP: N/A<br>LEI: 549300ZSEBV3HR826S10       | Long             | EC               |  | HK        |   2817000 | NS      | $12557058.08  | 1.07%             |  |  |  | No            |                  1 | On Loan: No      |
| Gree Electric Appliances, Inc. of Zhuhai                | GREE ELECTRIC APPLIANCES I-A COMMON STOCK       | CUSIP: N/A<br>LEI: 655600UY069MU9JRAN62       | Long             | EC               |  | CN        |   4572156 | NS      | $28675108.89  | 2.45%             |  |  |  | No            |                  1 | On Loan: No      |
| Hana Financial Group Inc.                               | HANA FINANCIAL GROUP COMMON STOCK               | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               |  | KR        |    279187 | NS      | $17783659.05  | 1.52%             |  |  |  | No            |                  1 | On Loan: No      |
| HDFC BANK LIMITED                                       | HDFC BANK LIMITED COMMON STOCK                  | CUSIP: N/A<br>LEI: 335800ZQ6I4E2JXENC50       | Long             | EC               |  | IN        |   1462910 | NS      | $34152310.39  | 2.91%             |  |  |  | No            |                  1 | On Loan: No      |
| HENGLI PETROCHEMICAL CO., LTD.                          | HENGLI PETROCHEMICAL CO L-A COMMON STOCK        | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               |  | CN        |  13545399 | NS      | $26960744.78  | 2.30%             |  |  |  | No            |                  1 | On Loan: No      |
| HINDALCO INDUSTRIES LIMITED                             | HINDALCO INDUSTRIES LTD COMMON STOCK            | CUSIP: Y3196V185<br>LEI: 335800KXLE5NO5B4GF90 | Long             | EC               |  | IN        |   1460249 | NS      | $11814047.46  | 1.01%             |  |  |  | No            |                  1 | On Loan: No      |
| HYUNDAI MOBIS CO.,LTD                                   | HYUNDAI MOBIS CO LTD COMMON STOCK               | CUSIP: N/A<br>LEI: 988400HJA9E0ZVDHRS65       | Long             | EC               |  | KR        |    102019 | NS      | $21643147.77  | 1.85%             |  |  |  | No            |                  1 | On Loan: No      |
| INDUSTRIAL AND COMMERCIAL BANK OF CHINA LIMITED         | IND & COMM BK OF CHINA-H COMMON STOCK           | CUSIP: N/A<br>LEI: 5493002ERZU2K9PZDL40       | Long             | EC               |  | HK        |  28050000 | NS      | $22273264.02  | 1.90%             |  |  |  | No            |                  1 | On Loan: No      |
| INDIAN OIL CORPORATION LIMITED                          | INDIAN OIL CORP LTD COMMON STOCK                | CUSIP: Y3925Y112<br>LEI: 335800J8OBWE4VFUDG88 | Long             | EC               |  | IN        |   7985145 | NS      | $13689676.16  | 1.17%             |  |  |  | No            |                  1 | On Loan: No      |
| KASIKORNBANK PUBLIC COMPANY LIMITED                     | KASIKORNBANK PCL-FOREIGN COMMON STOCK           | CUSIP: N/A<br>LEI: 5493004COSQ54937AW41       | Long             | EC               |  | TH        |   4799500 | NS      | $22670920.19  | 1.93%             |  |  |  | No            |                  2 | On Loan: No      |
| KB Financial Group Inc.                                 | KB FINANCIAL GROUP INC COMMON STOCK             | CUSIP: N/A<br>LEI: 529900TKE4MXG3Q6GW86       | Long             | EC               |  | KR        |    221341 | NS      | $18188978.99  | 1.55%             |  |  |  | No            |                  1 | On Loan: No      |
| LAS VEGAS SANDS CORP.                                   | LAS VEGAS SANDS CORP COMMON STOCK               | CUSIP: 517834107<br>LEI: 549300DUOO1KXOHPM605 | Long             | EC               |  | US        |    843103 | NS      | $36683411.53  | 3.13%             |  |  |  | No            |                  1 | On Loan: No      |
| Li Ning Co Ltd                                          | LI NING CO LTD COMMON STOCK                     | CUSIP: N/A<br>LEI: 529900T77L2FV3FZ3U81       | Long             | EC               |  | HK        |   9385000 | NS      | $20338850.83  | 1.74%             |  |  |  | No            |                  1 | On Loan: No      |
| Localiza Rent a Car S.A.                                | LOCALIZA RENT A CAR COMMON STOCK                | CUSIP: N/A<br>LEI: 984500C442A7E0CD4D11       | Long             | EC               |  | BR        |   2468100 | NS      | $18529715.82  | 1.58%             |  |  |  | No            |                  1 | On Loan: No      |
| Lojas Renner S.A.                                       | LOJAS RENNER S.A. COMMON STOCK                  | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               |  | BR        |   3272940 | NS      | $11825258.54  | 1.01%             |  |  |  | No            |                  1 | On Loan: No      |
| MELCO RESORTS & ENTERTAINMENT LIMITED                   | MELCO RESORTS & ENTERT-ADR DEPOSITARY RECEIPT   | CUSIP: 585464100<br>LEI: 529900NRV6LBR3T6B421 | Long             | EC               |  | US        |   1338151 | NS      | $9674831.73   | 0.83%             |  |  |  | No            |                  1 | On Loan: No      |
| MTN GROUP LIMITED                                       | MTN GROUP LTD COMMON STOCK                      | CUSIP: N/A<br>LEI: 2549009JD6Q6XHZS5E05       | Long             | EC               |  | ZA        |   4733609 | NS      | $37680625.23  | 3.22%             |  |  |  | No            |                  1 | On Loan: No      |
| NASPERS LIMITED                                         | NASPERS LTD-N SHS COMMON STOCK                  | CUSIP: N/A<br>LEI: 21380044BQ8812EEKT59       | Long             | EC               |  | ZA        |     45168 | NS      | $14093030.38  | 1.20%             |  |  |  | No            |                  1 | On Loan: No      |
| OTP Bank Nyrt.                                          | OTP BANK PLC COMMON STOCK                       | CUSIP: N/A<br>LEI: 529900W3MOO00A18X956       | Long             | EC               |  | HU        |    162862 | NS      | $13017576.76  | 1.11%             |  |  |  | No            |                  1 | On Loan: No      |
| Petroleo Brasileiro S.A. (Petrobras)                    | PETROLEO BRASILEIRO-SPON ADR DEPOSITARY RECEIPT | CUSIP: 71654V408<br>LEI: 5493000J801JZRCMFE49 | Long             | EC               |  | US        |   1267747 | NS      | $15859514.97  | 1.35%             |  |  |  | No            |                  1 | On Loan: No      |
| PICC Property and Casualty Company Limited              | PICC PROPERTY & CASUALTY-H COMMON STOCK         | CUSIP: N/A<br>LEI: 300300F1000311000017       | Long             | EC               |  | HK        |   8500000 | NS      | $16516986.86  | 1.41%             |  |  |  | No            |                  1 | On Loan: No      |
| Ping An Insurance (Group) Company of China, Ltd.        | PING AN INSURANCE GROUP CO-H COMMON STOCK       | CUSIP: N/A<br>LEI: 529900M9MC28JLN35U89       | Long             | EC               |  | HK        |   5030500 | NS      | $32111286.88  | 2.74%             |  |  |  | No            |                  1 | On Loan: No      |
| PRIO S.A.                                               | PRIO SA COMMON STOCK                            | CUSIP: N/A<br>LEI: 549300IQAZIWK5RVZX23       | Long             | EC               |  | BR        |   3208200 | NS      | $24989605.20  | 2.13%             |  |  |  | No            |                  1 | On Loan: No      |
| SAMSUNG ELECTRO-MECHANICS CO.,LTD                       | SAMSUNG ELECTRO-MECHANICS CO COMMON STOCK       | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               |  | KR        |    177982 | NS      | $17683514.14  | 1.51%             |  |  |  | No            |                  1 | On Loan: No      |
| Samsung Electronics Co., Ltd.                           | SAMSUNG ELECTRONICS CO LTD COMMON STOCK         | CUSIP: N/A<br>LEI: 9884007ER46L6N7EI764       | Long             | EC               |  | KR        |    778423 | NS      | $34423127.24  | 2.94%             |  |  |  | No            |                  1 | On Loan: No      |
| SANDS CHINA LTD.                                        | SANDS CHINA LTD COMMON STOCK                    | CUSIP: N/A<br>LEI: 549300EVO6UZDGY05787       | Long             | EC               |  | HK        |   8602400 | NS      | $17978418.21  | 1.53%             |  |  |  | No            |                  1 | On Loan: No      |
| SCB X PUBLIC COMPANY LIMITED                            | SCB X PCL-FOREIGN COMMON STOCK                  | CUSIP: N/A<br>LEI: 254900TG41KIWX7VDO42       | Long             | EC               |  | TH        |   6358300 | NS      | $22993359.59  | 1.96%             |  |  |  | No            |                  2 | On Loan: No      |
| Sendas Distribuidora S.A.                               | SENDAS DISTRIBUIDORA SA COMMON STOCK            | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               |  | BR        |   9876500 | NS      | $20596113.64  | 1.76%             |  |  |  | No            |                  1 | On Loan: No      |
| SINO BIOPHARMACEUTICAL LIMITED                          | SINO BIOPHARMACEUTICAL COMMON STOCK             | CUSIP: N/A<br>LEI: 529900LPR4ADFEJAR786       | Long             | EC               |  | HK        |  18025151 | NS      | $12126282.88  | 1.03%             |  |  |  | No            |                  1 | On Loan: No      |
| SITC International Holdings Co Ltd                      | SITC INTERNATIONAL HOLDINGS COMMON STOCK        | CUSIP: N/A<br>LEI: 529900JUV4MOM9CE3V12       | Long             | EC               |  | HK        |   2999642 | NS      | $9616832.50   | 0.82%             |  |  |  | No            |                  1 | On Loan: No      |
| SK hynix Inc.                                           | SK HYNIX INC COMMON STOCK                       | CUSIP: N/A<br>LEI: 988400XAIK6XISWQV045       | Long             | EC               |  | KR        |    178369 | NS      | $38435239.66  | 3.28%             |  |  |  | No            |                  1 | On Loan: No      |
| Taiwan Semiconductor Manufacturing Co., Ltd.            | TAIWAN SEMICONDUCTOR MANUFAC COMMON STOCK       | CUSIP: N/A<br>LEI: 549300KB6NK5SBD14S87       | Long             | EC               |  | TW        |    763000 | NS      | $27902417.18  | 2.38%             |  |  |  | No            |                  1 | On Loan: No      |
| Taiwan Semiconductor Manufacturing Co., Ltd.            | TAIWAN SEMICONDUCTOR-SP ADR DEPOSITARY RECEIPT  | CUSIP: 874039100<br>LEI: 549300KB6NK5SBD14S87 | Long             | EC               |  | US        |     96067 | NS      | $21758214.83  | 1.86%             |  |  |  | No            |                  1 | On Loan: No      |
| Tencent Holdings Limited                                | TENCENT HOLDINGS LTD COMMON STOCK               | CUSIP: N/A<br>LEI: 254900N4SLUMW4XUYY11       | Long             | EC               |  | HK        |    358300 | NS      | $23087280.45  | 1.97%             |  |  |  | No            |                  1 | On Loan: No      |
| TRIP.COM GROUP LIMITED                                  | TRIP.COM GROUP LTD-ADR DEPOSITARY RECEIPT       | CUSIP: 89677Q107<br>LEI: 2549004RMYDSRQL4KW41 | Long             | EC               |  | US        |    381071 | NS      | $22346003.44  | 1.91%             |  |  |  | No            |                  1 | On Loan: No      |
| VALE S.A.                                               | VALE SA COMMON STOCK                            | CUSIP: N/A<br>LEI: 254900SMTWBX7RU2SR20       | Long             | EC               |  | BR        |   2223500 | NS      | $21567512.10  | 1.84%             |  |  |  | No            |                  1 | On Loan: No      |
| WH GROUP LIMITED                                        | WH GROUP LTD COMMON STOCK                       | CUSIP: N/A<br>LEI: 254900A4AYEDRWYSE928       | Long             | EC               |  | HK        |  11718806 | NS      | $11294492.95  | 0.96%             |  |  |  | Yes           |                  1 | On Loan: No      |
| WONIK IPS CO., LTD.                                     | WONIK IPS CO LTD COMMON STOCK                   | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               |  | KR        |    179917 | NS      | $3510171.67   | 0.30%             |  |  |  | No            |                  1 | On Loan: No      |
| YAGEO CORPORATION                                       | YAGEO CORPORATION COMMON STOCK                  | CUSIP: N/A<br>LEI: 5493001P0TOZH7GGNQ21       | Long             | EC               |  | TW        |   1620237 | NS      | $26886048.27  | 2.29%             |  |  |  | No            |                  1 | On Loan: No      |
| ZHEN DING TECHNOLOGY HOLDING LIMITED                    | ZHEN DING TECHNOLOGY HOLDING COMMON STOCK       | CUSIP: N/A<br>LEI: 549300H7R4K33675UP38       | Long             | EC               |  | TW        |   1362682 | NS      | $4689508.19   | 0.40%             |  |  |  | No            |                  1 | On Loan: No      |

### Signature

**Date Signed:** 2025-06-30

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

**Signature:** Andrew Metzger

**Name of Signer:** Andrew Metzger

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