# EDGAR Filing Document

**Accession Number:** 0001593547
**File Stem:** 0002048251-26-004248
**Filing Date:** 2026-5
**Character Count:** 35482
**Document Hash:** 9db8555d6886f3aba9d59568e950a40e
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0002048251-26-004248.hdr.sgml**: 20260528

**ACCESSION NUMBER**: 0002048251-26-004248

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 1

**CONFORMED PERIOD OF REPORT**: 20260331

**FILED AS OF DATE**: 20260528

**DATE AS OF CHANGE**: 20260528

**PERIOD START**: 20260331

**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:** 261029189

**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

### GQG PARTNERS EMERGING MARKETS EQUITY FUND (Series ID: S000056013)

| Class ID   | Class Name           | Ticker Symbol   |
|:---|:---|:---|
| C000176380 | Investor Shares      | GQGPX           |
| C000176381 | Institutional Shares | GQGIX           |
| C000176382 | R6 Shares            | GQGRX           |

## 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:** GQG Partners Emerging Markets Equity Fund

- **b. EDGAR series identifier (if any):** S000056013

- **c. LEI of Series:** 549300TCTT3MLFI2GV61

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

- **a. Date of fiscal year-end:** 2026-03-31

- **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:** $21989386313.00

**Total Liabilities:** $429481959.81

**Net Assets:** $21559904353.19

**Cash Not Reported:** $31976532.13

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000176381 | -6.19%               | 4.03%                | 4.66%                |
| Class ID C000176380 | -6.28%               | 4.05%                | 4.63%                |
| Class ID C000176382 | -6.19%               | 4.03%                | 4.66%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $501940672.94            | $-2084179038.49                            |
| Month 2  | $42063006.82             | $927632777.77                              |
| Month 3  | $-23231899.10            | $1013341840.67                             |

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| BROWN BROTHERS HARRIMAN & CO.                                  | FX Forward Contract: USD/HUF SETTLE 2026-04-01     | CUSIP: N/A<br>LEI: 5493006KMX1VFTPYPW14       | N/A              | DFE              |  | US        |         1 | NC      | $-30374.13     | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| ITC LIMITED                                                    | ITC LTD COMMON STOCK                               | CUSIP: N/A<br>LEI: 335800WLOU3OFWFTMP43       | Long             | EC               |  | IN        | 153329896 | NS      | $468533557.40  | 2.17%             |  |  |  | No            |                  1 | On Loan: No      |
| State Bank of India                                            | STATE BANK OF INDIA COMMON STOCK                   | CUSIP: Y8155P103<br>LEI: 5493001JZ37UBBZF6L49 | Long             | EC               |  | IN        |  21527960 | NS      | $224518680.60  | 1.04%             |  |  |  | No            |                  1 | On Loan: No      |
| HDFC BANK LIMITED                                              | HDFC BANK LTD-ADR DEPOSITARY RECEIPT               | CUSIP: 40415F101<br>LEI: 335800ZQ6I4E2JXENC50 | Long             | EC               |  | US        |   8751700 | NS      | $217742296.00  | 1.01%             |  |  |  | No            |                  1 | On Loan: No      |
| GAZPROM PAO                                                    | GAZPROM PJSC COMMON STOCK                          | CUSIP: N/A<br>LEI: 213800FD9J2IHTA7YX78       | Long             | EC               |  | RU        |  30141513 | NS      | $3707.44       | 0.00%             |  |  |  | No            |                  3 | On Loan: No      |
| Grupo Financiero Banorte, S.A.B. de C.V.                       | GRUPO FINANCIERO BANORTE-O COMMON STOCK            | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               |  | MX        |  25156400 | NS      | $276725280.30  | 1.28%             |  |  |  | No            |                  1 | On Loan: No      |
| TOTALENERGIES SE                                               | TOTALENERGIES SE COMMON STOCK                      | CUSIP: N/A<br>LEI: 529900S21EQ1BO4ESM68       | Long             | EC               |  | FR        |  10311702 | NS      | $943364411.90  | 4.38%             |  |  |  | No            |                  1 | On Loan: No      |
| ADANI PORTS AND SPECIAL ECONOMIC ZONE LIMITED                  | ADANI PORTS AND SPECIAL ECON COMMON STOCK          | CUSIP: Y00130107<br>LEI: 335800QOAXP5TM7OYP69 | Long             | EC               |  | IN        |  22203008 | NS      | $310578502.80  | 1.44%             |  |  |  | No            |                  1 | On Loan: No      |
| NATIONAL BANK OF GREECE S.A.                                   | NATIONAL BANK OF GREECE COMMON STOCK               | CUSIP: N/A<br>LEI: 5UMCZOEYKCVFAW8ZLO05       | Long             | EC               |  | GR        |  11430718 | NS      | $176023785.10  | 0.82%             |  |  |  | No            |                  1 | On Loan: No      |
| GMK NORIL'SKIY NIKEL' PAO                                      | MMC NORILSK NICKEL PJSC COMMON STOCK               | CUSIP: N/A<br>LEI: 253400JPTEEW143W3E47       | Long             | EC               |  | RU        |   1555600 | NS      | $191.34        | 0.00%             |  |  |  | No            |                  3 | On Loan: No      |
| America Movil, S.A.B. de C.V.                                  | AMERICA MOVIL SAB DE C-SER B COMMON STOCK          | CUSIP: N/A<br>LEI: 5493000FNR3UCEAONM59       | Long             | EC               |  | MX        | 151068600 | NS      | $190829664.60  | 0.89%             |  |  |  | No            |                  1 | On Loan: No      |
| KASIKORNBANK PUBLIC COMPANY LIMITED                            | KASIKORNBANK PCL-FOREIGN COMMON STOCK              | CUSIP: N/A<br>LEI: 5493004COSQ54937AW41       | Long             | EC               |  | TH        |  24957600 | NS      | $145610892.30  | 0.68%             |  |  |  | No            |                  2 | On Loan: No      |
| ADANI ENERGY SOLUTIONS LIMITED                                 | ADANI ENERGY SOLUTIONS LTD COMMON STOCK            | CUSIP: N/A<br>LEI: 549300PLH866JQ6LXE52       | Long             | EC               |  | IN        |  22886433 | NS      | $227878082.60  | 1.06%             |  |  |  | No            |                  1 | On Loan: No      |
| Petroleo Brasileiro S.A. (Petrobras)                           | PETROLEO BRASILEIRO-SPON ADR DEPOSITARY RECEIPT    | CUSIP: 71654V408<br>LEI: 5493000J801JZRCMFE49 | Long             | EC               |  | US        |  47670787 | NS      | $989168830.30  | 4.59%             |  |  |  | No            |                  1 | On Loan: No      |
| INTERNATIONAL CONTAINER TERMINAL SERVICES, INC.                | INTL CONTAINER TERM SVCS INC COMMON STOCK          | CUSIP: N/A<br>LEI: 254900FU1MWK0I0Q4J61       | Long             | EC               |  | PH        |  19167220 | NS      | $217305413.70  | 1.01%             |  |  |  | No            |                  1 | On Loan: No      |
| OTP Bank Nyrt.                                                 | OTP BANK PLC COMMON STOCK                          | CUSIP: N/A<br>LEI: 529900W3MOO00A18X956       | Long             | EC               |  | HU        |   1871963 | NS      | $199173103.40  | 0.92%             |  |  |  | No            |                  1 | On Loan: No      |
| Companhia Paranaense de Energia - Copel                        | COMPANHIA PARANAENSE DE ENER COMMON STOCK          | CUSIP: N/A<br>LEI: 2549001AS1I9A71VG663       | Long             | EC               |  | BR        |  38777000 | NS      | $114653889.80  | 0.53%             |  |  |  | No            |                  1 | On Loan: No      |
| GMR AIRPORTS LIMITED                                           | GMR AIRPORTS LTD COMMON STOCK                      | CUSIP: N/A<br>LEI: 3358008S2MTRWZ255P70       | Long             | EC               |  | IN        | 185057318 | NS      | $166799507.70  | 0.77%             |  |  |  | No            |                  1 | On Loan: No      |
| SINGAPORE TECHNOLOGIES ENGINEERING LTD                         | SINGAPORE TECH ENGINEERING COMMON STOCK            | CUSIP: N/A<br>LEI: 254900OEXGGWCR24DG90       | Long             | EC               |  | SG        |   4651600 | NS      | $39343050.00   | 0.18%             |  |  |  | No            |                  1 | On Loan: No      |
| COAL INDIA LTD                                                 | COAL INDIA LTD COMMON STOCK                        | CUSIP: N/A<br>LEI: 335800NLJQZNHM9LBB31       | Long             | EC               |  | IN        |   4450778 | NS      | $21279607.86   | 0.10%             |  |  |  | No            |                  1 | On Loan: No      |
| POLYUS PAO                                                     | POLYUS PJSC COMMON STOCK                           | CUSIP: N/A<br>LEI: 549300FUXVT7TF6ZKV71       | Long             | EC               |  | RU        |    426420 | NS      | $52.45         | 0.00%             |  |  |  | No            |                  3 | On Loan: No      |
| Saudi Arabian Oil Company                                      | SAUDI ARABIAN OIL CO COMMON STOCK                  | CUSIP: N/A<br>LEI: 5586006WD91QHB7J4X50       | Long             | EC               |  | SA        |  35156945 | NS      | $254508241.30  | 1.18%             |  |  |  | Yes           |                  1 | On Loan: No      |
| Erste Group Bank AG                                            | ERSTE GROUP BANK AG COMMON STOCK                   | CUSIP: N/A<br>LEI: PQOH26KWDF7CG10L6792       | Long             | EC               |  | AT        |   1632749 | NS      | $175822185.70  | 0.82%             |  |  |  | No            |                  1 | On Loan: No      |
| LODHA DEVELOPERS LIMITED                                       | LODHA DEVELOPERS LTD COMMON STOCK                  | CUSIP: N/A<br>LEI: 254900B5QCN52ETNU557       | Long             | EC               |  | IN        |   1999444 | NS      | $14453054.28   | 0.07%             |  |  |  | Yes           |                  1 | On Loan: No      |
| DBS GROUP HOLDINGS LTD                                         | DBS GROUP HOLDINGS LTD COMMON STOCK                | CUSIP: N/A<br>LEI: 5493007FKT78NKPM5V55       | Long             | EC               |  | SG        |   5208723 | NS      | $230989353.30  | 1.07%             |  |  |  | No            |                  1 | On Loan: No      |
| EURO                                                           | FX Forward Contract: EUR/USD SETTLE 2026-04-01     | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | XX        |         1 | NC      | $326189.71     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| ADNOC Gas PLC                                                  | ADNOC GAS PLC COMMON STOCK                         | CUSIP: N/A<br>LEI: 254900O5NS03BDOOM362       | Long             | EC               |  | AE        | 227807716 | NS      | $200901995.60  | 0.93%             |  |  |  | No            |                  1 | On Loan: No      |
| CENTRAIS ELETRICAS BRASILEIRAS SA ELETROBRAS                   | AXIA ENERGIA COMMON STOCK                          | CUSIP: N/A<br>LEI: 254900I8KYDELP4B4Z08       | Long             | EC               |  | BR        |  38836749 | NS      | $435225644.00  | 2.02%             |  |  |  | No            |                  1 | On Loan: No      |
| Alpha Dhabi Holding PJSC                                       | ALPHA DHABI HOLDING PJSC COMMON STOCK              | CUSIP: N/A<br>LEI: 254900EH6E1KZJBO3246       | Long             | EC               |  | AE        |  99885382 | NS      | $190942112.30  | 0.89%             |  |  |  | No            |                  1 | On Loan: No      |
| ANHEUSER-BUSCH INBEV SA                                        | ANHEUSER-BUSCH INBEV SA/NV COMMON STOCK            | CUSIP: N/A<br>LEI: 5493008H3828EMEXB082       | Long             | EC               |  | BE        |   1085640 | NS      | $74874425.52   | 0.35%             |  |  |  | No            |                  1 | On Loan: No      |
| ADANI ENTERPRISES LIMITED                                      | ADANI ENTERPRISES LTD COMMON STOCK                 | CUSIP: Y00106131<br>LEI: 335800OTN96B3M38HC30 | Long             | EC               |  | IN        |  20550492 | NS      | $383184575.10  | 1.78%             |  |  |  | No            |                  1 | On Loan: No      |
| BANCO BTG PACTUAL S.A.                                         | BANCO BTG PACTUAL SA-UNIT UNIT                     | CUSIP: N/A<br>LEI: ZXLTQRYIK6IJH3R0IK66       | Long             | EC               |  | BR        |  41286348 | NS      | $447259875.40  | 2.07%             |  |  |  | No            |                  1 | On Loan: No      |
| UNILEVER PLC                                                   | UNILEVER PLC-SPONSORED ADR DEPOSITARY RECEIPT      | CUSIP: 904767803<br>LEI: 549300MKFYEKVRWML317 | Long             | EC               |  | US        |   5195250 | NS      | $295973417.80  | 1.37%             |  |  |  | No            |                  1 | On Loan: No      |
| Eurobank S.A.                                                  | EUROBANK SA COMMON STOCK                           | CUSIP: N/A<br>LEI: 213800KGF4EFNUQKAT69       | Long             | EC               |  | GR        |  24916530 | NS      | $99452151.92   | 0.46%             |  |  |  | No            |                  1 | On Loan: No      |
| SINGAPORE DOLLAR                                               | FX Forward Contract: SGD/USD SETTLE 2026-04-01     | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | SG        |         1 | NC      | $-490.65       | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| BRITISH STERLING POUND                                         | FX Forward Contract: GBP/USD SETTLE 2026-04-01     | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | GB        |         1 | NC      | $-19157.73     | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| ITC Hotels Ltd                                                 | ITC HOTELS LIMITED COMMON STOCK                    | CUSIP: N/A<br>LEI: 335800IFHF7F1488ND22       | Long             | EC               |  | IN        |  34593347 | NS      | $50858422.21   | 0.24%             |  |  |  | No            |                  1 | On Loan: No      |
| Grupo Aeroportuario del Sureste, S.A.B. de C.V.                | GRUPO AEROPORTUARIO SUR-ADR DEPOSITARY RECEIPT     | CUSIP: N/A<br>LEI: 5299001W7JIDXCUOUC82       | Long             | EC               |  | US        |    205435 | NS      | $69052866.55   | 0.32%             |  |  |  | No            |                  1 | On Loan: No      |
| SEVERSTAL' PAO                                                 | SEVERSTAL PJSC COMMON STOCK                        | CUSIP: N/A<br>LEI: 213800OKDPTV6K4ONO53       | Long             | EC               |  | RU        |    772406 | NS      | $95.01         | 0.00%             |  |  |  | No            |                  3 | On Loan: No      |
| PATANJALI FOODS LIMITED                                        | PATANJALI FOODS LTD COMMON STOCK                   | CUSIP: N/A<br>LEI: 335800EXLHZBCGE81H10       | Long             | EC               |  | IN        |  34079440 | NS      | $166386152.30  | 0.77%             |  |  |  | No            |                  1 | On Loan: No      |
| BROWN BROTHERS HARRIMAN & CO.                                  | FX Forward Contract: USD/HKD SETTLE 2026-04-01     | CUSIP: N/A<br>LEI: 5493006KMX1VFTPYPW14       | N/A              | DFE              |  | US        |         1 | NC      | $20859.72      | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Grupo Aeroportuario del Pacifico, S.A.B. de C.V.               | GRUPO AEROPORT DEL PACIFIC-B COMMON STOCK          | CUSIP: N/A<br>LEI: 4469000001BZ368XFI90       | Long             | EC               |  | MX        |   4488178 | NS      | $109814395.40  | 0.51%             |  |  |  | No            |                  1 | On Loan: No      |
| FIRST ABU DHABI BANK P.J.S.C.                                  | FIRST ABU DHABI BANK PJSC COMMON STOCK             | CUSIP: N/A<br>LEI: 2138002Y3WMK6RZS8H90       | Long             | EC               |  | AE        |  47127564 | NS      | $223612073.70  | 1.04%             |  |  |  | No            |                  1 | On Loan: No      |
| BHARTI AIRTEL LIMITED                                          | BHARTI AIRTEL LTD COMMON STOCK                     | CUSIP: N/A<br>LEI: 335800KQ1FPKOQ84OR26       | Long             | EC               |  | IN        |  29247350 | NS      | $555798888.50  | 2.58%             |  |  |  | No            |                  1 | On Loan: No      |
| BROWN BROTHERS HARRIMAN & CO.                                  | FX Forward Contract: USD/ZAR SETTLE 2026-04-01     | CUSIP: N/A<br>LEI: 5493006KMX1VFTPYPW14       | N/A              | DFE              |  | US        |         1 | NC      | $-15991.14     | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| Solidcore Resources plc                                        | SOLIDCORE RESOURCES PLC COMMON STOCK               | CUSIP: N/A<br>LEI: 213800JKJ5HJWYS4GR61       | Long             | EC               |  | RU        |    939651 | NS      | $115.58        | 0.00%             |  |  |  | No            |                  3 | On Loan: No      |
| KRUNG THAI BANK PUBLIC COMPANY LIMITED                         | KRUNG THAI BANK PUB CO-FOREI COMMON STOCK          | CUSIP: N/A<br>LEI: 54930007ZQMYCRFQGE36       | Long             | EC               |  | TH        | 209736800 | NS      | $224294149.20  | 1.04%             |  |  |  | No            |                  2 | On Loan: No      |
| Petroleo Brasileiro S.A. (Petrobras)                           | Petroleo Brasileiro SA - Petrobras PREFERRED STOCK | CUSIP: N/A<br>LEI: 5493000J801JZRCMFE49       | Long             | EP               |  | BR        | 100069509 | NS      | $930950458.60  | 4.32%             |  |  |  | No            |                  1 | On Loan: No      |
| ADANI POWER LIMITED                                            | ADANI POWER LTD COMMON STOCK                       | CUSIP: N/A<br>LEI: 33580074T4XKFXBDG813       | Long             | EC               |  | IN        | 287691140 | NS      | $457869061.60  | 2.12%             |  |  |  | No            |                  1 | On Loan: No      |
| AL RAJHI BANKING AND INVESTMENT CORPORATION SJSC               | AL RAJHI BANK COMMON STOCK                         | CUSIP: N/A<br>LEI: 558600BQZS4Y1DTU8589       | Long             | EC               |  | SA        |   8065854 | NS      | $229930967.40  | 1.07%             |  |  |  | No            |                  1 | On Loan: No      |
| ENI S.P.A.                                                     | ENI SPA COMMON STOCK                               | CUSIP: N/A<br>LEI: BUCRF72VH5RBN7X3VL35       | Long             | EC               |  | IT        |   2176633 | NS      | $61694835.36   | 0.29%             |  |  |  | No            |                  1 | On Loan: No      |
| ADANI GREEN ENERGY LIMITED                                     | ADANI GREEN ENERGY LTD COMMON STOCK                | CUSIP: N/A<br>LEI: 335800ZBBU81OH211H17       | Long             | EC               |  | IN        |  30227862 | NS      | $259734651.80  | 1.20%             |  |  |  | No            |                  1 | On Loan: No      |
| EQUATORIAL S.A.                                                | EQUATORIAL SA - ORD COMMON STOCK                   | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               |  | BR        |  28824900 | NS      | $225821131.80  | 1.05%             |  |  |  | No            |                  1 | On Loan: No      |
| EMBRAER S.A.                                                   | EMBRAER SA-SPON ADR DEPOSITARY RECEIPT             | CUSIP: 29082A107<br>LEI: 549300EM51WYXFHUY333 | Long             | EC               |  | US        |   3432286 | NS      | $203671851.20  | 0.94%             |  |  |  | No            |                  1 | On Loan: No      |
| POWER FINANCE CORPORATION LIMITED                              | POWER FINANCE CORPORATION COMMON STOCK             | CUSIP: Y7082R109<br>LEI: 3358003Q6D9LIJJZ1614 | Long             | EC               |  | IN        |  54444794 | NS      | $220074175.70  | 1.02%             |  |  |  | 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        |   4604500 | NS      | $35409503.56   | 0.16%             |  |  |  | No            |                  1 | On Loan: No      |
| N/A                                                            | BROWN BROTHERS HARRIMAN SWEEP INTEREST             | CUSIP: N/A<br>LEI: N/A                        | Long             | STIV             |  | US        | 543948933 | PA      | $543948933.10  | 2.52%             |  |  |  | No            |                  1 | 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        |  57525100 | NS      | $202694748.10  | 0.94%             |  |  |  | No            |                  1 | On Loan: No      |
| BP P.L.C.                                                      | BP PLC COMMON STOCK                                | CUSIP: N/A<br>LEI: 213800LH1BZH3DI6G760       | Long             | EC               |  | GB        |  88215900 | NS      | $687894750.00  | 3.19%             |  |  |  | No            |                  1 | On Loan: No      |
| Coca-Cola HBC AG                                               | COCA-COLA HBC AG-DI COMMON STOCK                   | CUSIP: N/A<br>LEI: 549300EFP3TNG7JGVE49       | Long             | EC               |  | GB        |   4169916 | NS      | $234019285.50  | 1.09%             |  |  |  | No            |                  1 | On Loan: No      |
| Philip Morris International Inc.                               | PHILIP MORRIS INTERNATIONAL COMMON STOCK           | CUSIP: 718172109<br>LEI: HL3H1H2BGXWVG3BSWR90 | Long             | EC               |  | US        |   3724519 | NS      | $615811971.50  | 2.86%             |  |  |  | No            |                  1 | On Loan: No      |
| VALE S.A.                                                      | VALE SA-SP ADR DEPOSITARY RECEIPT                  | CUSIP: N/A<br>LEI: 254900SMTWBX7RU2SR20       | Long             | EC               |  | US        |   8946453 | NS      | $142338067.20  | 0.66%             |  |  |  | No            |                  1 | On Loan: No      |
| PT Bank Mandiri (Persero) Tbk                                  | BANK MANDIRI PERSERO TBK PT COMMON STOCK           | CUSIP: N/A<br>LEI: 549300RSKQN4Z5ZSGH94       | Long             | EC               |  | ID        | 865605074 | NS      | $242977393.60  | 1.13%             |  |  |  | No            |                  1 | On Loan: No      |
| ICICI BANK LIMITED                                             | ICICI BANK LTD COMMON STOCK                        | CUSIP: Y3860Z132<br>LEI: R7RX8ER1V4666J8D1I38 | Long             | EC               |  | IN        |  38903783 | NS      | $499417734.00  | 2.32%             |  |  |  | No            |                  1 | On Loan: No      |
| AIA Group Limited                                              | AIA GROUP LTD COMMON STOCK                         | CUSIP: N/A<br>LEI: ZP5ILWVSYE4LJGMMVD57       | Long             | EC               |  | HK        |  45179000 | NS      | $502062710.10  | 2.33%             |  |  |  | No            |                  1 | On Loan: No      |
| CENTRAIS ELETRICAS BRASILEIRAS SA ELETROBRAS                   | AXIA ENERGIA COMMON STOCK                          | CUSIP: N/A<br>LEI: 254900I8KYDELP4B4Z08       | Long             | EC               |  | BR        |  10582497 | NS      | $114580641.40  | 0.53%             |  |  |  | No            |                  1 | On Loan: No      |
| International Holding Company PJSC                             | INTL HOLDING CO PJSC COMMON STOCK                  | CUSIP: N/A<br>LEI: 9845000BB909CE4A0G98       | Long             | EC               |  | AE        |   3732439 | NS      | $396817066.40  | 1.84%             |  |  |  | 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        | 135842200 | NS      | $27144127.64   | 0.13%             |  |  |  | No            |                  1 | On Loan: No      |
| NEFTYANAYA KOMPANIYA ROSNEFT' PAO                              | ROSNEFT OIL CO PJSC COMMON STOCK                   | CUSIP: N/A<br>LEI: 253400JT3MQWNDKMJE44       | Long             | EC               |  | RU        |  23574787 | NS      | $2899.73       | 0.00%             |  |  |  | No            |                  3 | On Loan: No      |
| FIRSTRAND LIMITED                                              | FIRSTRAND LTD COMMON STOCK                         | CUSIP: N/A<br>LEI: 529900XYOP8CUZU7R671       | Long             | EC               |  | ZA        |  28111469 | NS      | $142261439.50  | 0.66%             |  |  |  | No            |                  1 | On Loan: No      |
| Itau Unibanco Holding S.A.                                     | Itau Unibanco Holding SA PREFERRED STOCK           | CUSIP: N/A<br>LEI: 5493002W2IVG62O3ZJ94       | Long             | EP               |  | BR        |  54069634 | NS      | $450204940.00  | 2.09%             |  |  |  | No            |                  1 | On Loan: No      |
| SUN PHARMACEUTICAL INDUSTRIES LIMITED                          | SUN PHARMACEUTICAL INDUS COMMON STOCK              | CUSIP: N/A<br>LEI: 335800KJ7GE29LB4SS73       | Long             | EC               |  | IN        |  15188223 | NS      | $284068564.40  | 1.32%             |  |  |  | No            |                  1 | On Loan: No      |
| AMBEV S.A.                                                     | AMBEV SA-ADR DEPOSITARY RECEIPT                    | CUSIP: 02319V103<br>LEI: 549300TH5Q6VRP8OT012 | Long             | EC               |  | US        | 104329033 | NS      | $304640776.40  | 1.41%             |  |  |  | No            |                  1 | On Loan: No      |
| NK LUKOIL PAO                                                  | LUKOIL PJSC COMMON STOCK                           | CUSIP: N/A<br>LEI: 549300LCJ1UJXHYBWI24       | Long             | EC               |  | RU        |   2087971 | NS      | $256.82        | 0.00%             |  |  |  | No            |                  3 | On Loan: No      |
| Eneva S.A.                                                     | ENEVA SA COMMON STOCK                              | CUSIP: N/A<br>LEI: 549300T1AP7HKCABII19       | Long             | EC               |  | BR        |  56313100 | NS      | $264745278.10  | 1.23%             |  |  |  | No            |                  1 | On Loan: No      |
| THE COCA-COLA COMPANY                                          | COCA-COLA CO/THE COMMON STOCK                      | CUSIP: 191216100<br>LEI: UWJKFUJFZ02DKWI3RY53 | Long             | EC               |  | US        |   3063085 | NS      | $232947614.30  | 1.08%             |  |  |  | No            |                  1 | On Loan: No      |
| PT Bank Central Asia Tbk                                       | BANK CENTRAL ASIA TBK PT COMMON STOCK              | CUSIP: N/A<br>LEI: 254900BR956G2OHVOM21       | Long             | EC               |  | ID        | 559050330 | NS      | $215950526.00  | 1.00%             |  |  |  | No            |                  1 | On Loan: No      |
| ENI S.P.A.                                                     | ENI SPA-SPONSORED ADR DEPOSITARY RECEIPT           | CUSIP: 26874R108<br>LEI: BUCRF72VH5RBN7X3VL35 | Long             | EC               |  | US        |     49733 | NS      | $2815385.13    | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| Tencent Holdings Limited                                       | TENCENT HOLDINGS LTD COMMON STOCK                  | CUSIP: N/A<br>LEI: 254900N4SLUMW4XUYY11       | Long             | EC               |  | HK        |   6760100 | NS      | $426429987.00  | 1.98%             |  |  |  | No            |                  1 | On Loan: No      |
| Taiwan Semiconductor Manufacturing Company Limited             | TAIWAN SEMICONDUCTOR MANUFAC COMMON STOCK          | CUSIP: N/A<br>LEI: 549300KB6NK5SBD14S87       | Long             | EC               |  | TW        |  23845282 | NS      | $1379080555.00 | 6.40%             |  |  |  | No            |                  1 | On Loan: No      |
| POWSZECHNA KASA OSZCZEDNOSCI BANK POLSKI SPOLKA AKCYJNA        | PKO BANK POLSKI SA COMMON STOCK                    | CUSIP: N/A<br>LEI: P4GTT6GF1W40CVIMFR43       | Long             | EC               |  | PL        |   8480951 | NS      | $199755443.20  | 0.93%             |  |  |  | No            |                  1 | On Loan: No      |
| Companhia de Saneamento Basico do Estado de Sao Paulo - SABESP | CIA SANEAMENTO BASICO DE SP COMMON STOCK           | CUSIP: N/A<br>LEI: 254900UOXRZRS2TNWP19       | Long             | EC               |  | BR        |   8767170 | NS      | $266325069.80  | 1.24%             |  |  |  | No            |                  1 | On Loan: No      |
| JSW STEEL LIMITED                                              | JSW STEEL LTD COMMON STOCK                         | CUSIP: Y44680158<br>LEI: 335800EK6HZSC4CVAJ09 | Long             | EC               |  | IN        |  16584199 | NS      | $198829453.80  | 0.92%             |  |  |  | No            |                  1 | On Loan: No      |
| SINGAPORE TELECOMMUNICATIONS LIMITED                           | SINGAPORE TELECOMMUNICATIONS COMMON STOCK          | CUSIP: N/A<br>LEI: 2549003XJKIQO8YDYD89       | Long             | EC               |  | SG        | 133298232 | NS      | $511484373.60  | 2.37%             |  |  |  | No            |                  1 | On Loan: No      |
| HANWHA AEROSPACE CO., LTD.                                     | HANWHA AEROSPACE CO LTD COMMON STOCK               | CUSIP: N/A<br>LEI: 9884001NSUA8FQKQWR25       | Long             | EC               |  | KR        |    396050 | NS      | $337714484.10  | 1.57%             |  |  |  | No            |                  1 | On Loan: No      |
| SAMSUNG FIRE & MARINE INSURANCE CO., LTD.                      | SAMSUNG FIRE & MARINE INS COMMON STOCK             | CUSIP: N/A<br>LEI: 988400JMBDK47EW0Z936       | Long             | EC               |  | KR        |    356857 | NS      | $106889866.80  | 0.50%             |  |  |  | No            |                  1 | On Loan: No      |
| JSW ENERGY LIMITED                                             | JSW ENERGY LTD COMMON STOCK                        | CUSIP: Y44677105<br>LEI: 3358001ZFBW2VIMBMI85 | Long             | EC               |  | IN        |  14883456 | NS      | $74573786.51   | 0.35%             |  |  |  | No            |                  1 | On Loan: No      |
| HDFC BANK LIMITED                                              | HDFC BANK LIMITED COMMON STOCK                     | CUSIP: N/A<br>LEI: 335800ZQ6I4E2JXENC50       | Long             | EC               |  | IN        |   1845680 | NS      | $14457296.79   | 0.07%             |  |  |  | No            |                  1 | On Loan: No      |
| ALDAR PROPERTIES PJSC                                          | ALDAR PROPERTIES PJSC COMMON STOCK                 | CUSIP: N/A<br>LEI: 98450048CD8AEF13B480       | Long             | EC               |  | AE        |  37239022 | NS      | $80489328.26   | 0.37%             |  |  |  | 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        |  96846000 | NS      | $178294731.10  | 0.83%             |  |  |  | No            |                  1 | On Loan: No      |
| BROWN BROTHERS HARRIMAN & CO.                                  | FX Forward Contract: USD/ZAR SETTLE 2026-04-02     | CUSIP: N/A<br>LEI: 5493006KMX1VFTPYPW14       | N/A              | DFE              |  | US        |         1 | NC      | $-25304.65     | -0.00%            |  |  |  | No            |                  2 | 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