# EDGAR Filing Document

**Accession Number:** 0001593547
**File Stem:** 0001752724-23-044674
**Filing Date:** 2023-2
**Character Count:** 25901
**Document Hash:** 93d155006f9fb41d13e6cb434c0a0d4b
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001752724-23-044674.hdr.sgml**: 20230228

**ACCESSION NUMBER**: 0001752724-23-044674

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 1

**CONFORMED PERIOD OF REPORT**: 20221231

**FILED AS OF DATE**: 20230228

**DATE AS OF CHANGE**: 20230228

**PERIOD START**: 20221231

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Advisors' Inner Circle Fund III
- **CENTRAL INDEX KEY:** 0001593547
- **IRS NUMBER:** 000000000
- **STATE OF INCORPORATION:** DE

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-22920
- **FILM NUMBER:** 23679748

**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 INTERNATIONAL VALUE FUND (Series ID: S000071563)

| Class ID   | Class Name           | Ticker Symbol   |
|:---|:---|:---|
| C000226877 | Institutional Shares | ARVIX           |

## 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 International Value Fund

- **b. EDGAR series identifier (if any):** S000071563

- **c. LEI of Series:** 54930038PKDSI2AYT567

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

- **a. Date of fiscal year-end:** 2022-12-31

- **b. Date as of which information is reported:** 2022-12-31

**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:** $3152875.56

**Total Liabilities:** $27424.80

**Net Assets:** $3125450.76

**Cash Not Reported:** $102509.91

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000226877 | 0.59%                | 19.84%               | 0.82%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $-9852.23                | $26644.04                                  |
| Month 2  | $-43498.63               | $569685.45                                 |
| Month 3  | $-21528.37               | $50407.26                                  |

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| Petroleo Brasileiro S.A. (Petrobras)             | PETROLEO BRASILEIRO SA PREFERRED STOCK          | CUSIP: N/A<br>LEI: 5493000J801JZRCMFE49       | Long             | EP               |  | BR        |     14200 | NS      | $65893.27     | 2.11%             |  |  |  | No            |                  1 | On Loan: No      |
| BAIDU, INC.                                      | BAIDU INC - SPON ADR DEPOSITARY RECEIPT         | CUSIP: 056752108<br>LEI: 254900AL64IANZYI1E02 | Long             | EC               |  | US        |      1146 | NS      | $131079.48    | 4.19%             |  |  |  | No            |                  1 | On Loan: No      |
| The Kansai Electric Power Company, Incorporated  | KANSAI ELECTRIC POWER CO INC COMMON STOCK       | CUSIP: N/A<br>LEI: 353800PFUKP5ONPJNZ86       | Long             | EC               |  | JP        |      6700 | NS      | $65294.88     | 2.09%             |  |  |  | No            |                  1 | On Loan: No      |
| Capri Holdings Limited                           | CAPRI HOLDINGS LTD COMMON STOCK                 | CUSIP: G1890L107<br>LEI: 549300LPG8W0H1OX3A26 | Long             | EC               |  | US        |       316 | NS      | $18113.12     | 0.58%             |  |  |  | No            |                  1 | On Loan: No      |
| SHELL PLC                                        | SHELL PLC COMMON STOCK                          | CUSIP: N/A<br>LEI: 21380068P1DRHMJ8KU70       | Long             | EC               |  | GB        |      1313 | NS      | $36921.97     | 1.18%             |  |  |  | No            |                  1 | On Loan: No      |
| AerCap Holdings N.V.                             | AERCAP HOLDINGS NV COMMON STOCK                 | CUSIP: N00985106<br>LEI: 549300SZYINBBLJQU475 | Long             | EC               |  | US        |       142 | NS      | $8281.44      | 0.26%             |  |  |  | No            |                  1 | On Loan: No      |
| HSBC HOLDINGS PLC                                | HSBC HOLDINGS PLC COMMON STOCK                  | CUSIP: N/A<br>LEI: MLU0ZO3ML4LN2LL2TL39       | Long             | EC               |  | GB        |     11586 | NS      | $72233.91     | 2.31%             |  |  |  | No            |                  1 | On Loan: No      |
| TAIHEIYO CEMENT CORPORATION                      | TAIHEIYO CEMENT CORP COMMON STOCK               | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               |  | JP        |      1700 | NS      | $26645.08     | 0.85%             |  |  |  | No            |                  1 | On Loan: No      |
| Novartis AG                                      | NOVARTIS AG-REG COMMON STOCK                    | CUSIP: N/A<br>LEI: 5493007HIVTX6SY6XD66       | Long             | EC               |  | CH        |       476 | NS      | $43031.24     | 1.38%             |  |  |  | No            |                  1 | On Loan: No      |
| Holcim AG                                        | HOLCIM LTD COMMON STOCK                         | CUSIP: N/A<br>LEI: 529900EHPFPYHV6IQO98       | Long             | EC               |  | CH        |      1025 | NS      | $53076.30     | 1.70%             |  |  |  | No            |                  1 | On Loan: No      |
| ALIBABA GROUP HOLDING LIMITED                    | ALIBABA GROUP HOLDING-SP ADR DEPOSITARY RECEIPT | CUSIP: 01609W102<br>LEI: 5493001NTNQJDH60PM02 | Long             | EC               |  | US        |      1290 | NS      | $113636.10    | 3.64%             |  |  |  | No            |                  1 | On Loan: No      |
| DIRECT LINE INSURANCE GROUP PLC                  | DIRECT LINE INSURANCE GROUP COMMON STOCK        | CUSIP: N/A<br>LEI: 213800FF2R23ALJQOP04       | Long             | EC               |  | GB        |       356 | NS      | $952.45       | 0.03%             |  |  |  | No            |                  1 | On Loan: No      |
| ArcelorMittal SA                                 | ARCELORMITTAL COMMON STOCK                      | CUSIP: N/A<br>LEI: 2EULGUTUI56JI9SAL165       | Long             | EC               |  | NL        |         3 | NS      | $78.92        | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| GERDAU S.A.                                      | Gerdau SA PREFERRED STOCK                       | CUSIP: N/A<br>LEI: 254900YDV6SEQQPZVG24       | Long             | EP               |  | BR        |     12100 | NS      | $67309.44     | 2.15%             |  |  |  | No            |                  1 | On Loan: No      |
| MELCO RESORTS & ENTERTAINMENT LIMITED            | MELCO RESORTS & ENTERT-ADR DEPOSITARY RECEIPT   | CUSIP: 585464100<br>LEI: 529900NRV6LBR3T6B421 | Long             | EC               |  | US        |      7839 | NS      | $90148.50     | 2.88%             |  |  |  | No            |                  1 | On Loan: No      |
| Petroleo Brasileiro S.A. (Petrobras)             | PETROLEO BRASILEIRO-SPON ADR DEPOSITARY RECEIPT | CUSIP: 71654V408<br>LEI: 5493000J801JZRCMFE49 | Long             | EC               |  | US        |      3735 | NS      | $39777.75     | 1.27%             |  |  |  | No            |                  1 | On Loan: No      |
| Covestro AG                                      | COVESTRO AG COMMON STOCK                        | CUSIP: N/A<br>LEI: 3912005AWHKLQ1CPLV11       | Long             | EC               |  | DE        |      1700 | NS      | $66512.17     | 2.13%             |  |  |  | Yes           |                  1 | On Loan: No      |
| NXP Semiconductors N.V.                          | NXP SEMICONDUCTORS NV COMMON STOCK              | CUSIP: N6596X109<br>LEI: 724500M9BY5293JDF951 | Long             | EC               |  | US        |       150 | NS      | $23704.50     | 0.76%             |  |  |  | No            |                  1 | On Loan: No      |
| SUBARU CORPORATION                               | SUBARU CORP COMMON STOCK                        | CUSIP: N/A<br>LEI: 549300N244BVAEE6HH86       | Long             | EC               |  | JP        |      1000 | NS      | $15448.80     | 0.49%             |  |  |  | No            |                  1 | On Loan: No      |
| Mitsubishi Electric Corporation                  | MITSUBISHI ELECTRIC CORP COMMON STOCK           | CUSIP: N/A<br>LEI: 549300TRXM9Y6561AX39       | Long             | EC               |  | JP        |      9200 | NS      | $92077.11     | 2.95%             |  |  |  | No            |                  1 | On Loan: No      |
| PUBLICIS GROUPE SA                               | PUBLICIS GROUPE COMMON STOCK                    | CUSIP: N/A<br>LEI: 2138004KW8BV57III342       | Long             | EC               |  | FR        |       245 | NS      | $15583.45     | 0.50%             |  |  |  | No            |                  1 | On Loan: No      |
| SK hynix Inc.                                    | SK HYNIX INC COMMON STOCK                       | CUSIP: N/A<br>LEI: 988400XAIK6XISWQV045       | Long             | EC               |  | KR        |       690 | NS      | $41168.20     | 1.32%             |  |  |  | No            |                  2 | On Loan: No      |
| Airbus SE                                        | AIRBUS SE COMMON STOCK                          | CUSIP: N/A<br>LEI: MINO79WLOO247M1IL051       | Long             | EC               |  | FR        |       832 | NS      | $98875.65     | 3.16%             |  |  |  | No            |                  1 | On Loan: No      |
| SAFRAN SA                                        | SAFRAN SA COMMON STOCK                          | CUSIP: N/A<br>LEI: 969500UIC89GT3UL7L24       | Long             | EC               |  | FR        |       272 | NS      | $34042.58     | 1.09%             |  |  |  | No            |                  1 | On Loan: No      |
| LLOYDS BANKING GROUP PLC                         | LLOYDS BANKING GROUP PLC COMMON STOCK           | CUSIP: N/A<br>LEI: 549300PPXHEU2JF0AM85       | Long             | EC               |  | GB        |     28995 | NS      | $15917.88     | 0.51%             |  |  |  | No            |                  1 | On Loan: No      |
| Porsche Automobil Holding SE                     | Porsche Automobil Holding SE PREFERRED STOCK    | CUSIP: N/A<br>LEI: 52990053Z17ZYM1KFV27       | Long             | EP               |  | DE        |       981 | NS      | $53807.51     | 1.72%             |  |  |  | No            |                  1 | On Loan: No      |
| BRITISH STERLING POUND                           | FX Forward Contract: GBP/USD SETTLE 2023-01-03  | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | GB        |         1 | NC      | $1.62         | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Nomura Holdings, Inc.                            | NOMURA HOLDINGS INC COMMON STOCK                | CUSIP: N/A<br>LEI: 549300B3CEAHYG7K8164       | Long             | EC               |  | JP        |      8000 | NS      | $29783.60     | 0.95%             |  |  |  | No            |                  1 | On Loan: No      |
| THE BERKELEY GROUP HOLDINGS PLC                  | BERKELEY GROUP HOLDINGS/THE COMMON STOCK        | CUSIP: N/A<br>LEI: 2138009OQSSLVVHQAL78       | Long             | EC               |  | GB        |       279 | NS      | $12726.28     | 0.41%             |  |  |  | No            |                  1 | On Loan: No      |
| POSCO Holdings Inc.                              | POSCO HOLDINGS INC COMMON STOCK                 | CUSIP: N/A<br>LEI: 988400E5HRVX81AYLM04       | Long             | EC               |  | KR        |       320 | NS      | $70032.62     | 2.24%             |  |  |  | No            |                  2 | On Loan: No      |
| MTU Aero Engines AG                              | MTU AERO ENGINES AG COMMON STOCK                | CUSIP: N/A<br>LEI: 529900807L67JY81RD65       | Long             | EC               |  | DE        |       145 | NS      | $31384.41     | 1.00%             |  |  |  | No            |                  1 | On Loan: No      |
| PRUDENTIAL PUBLIC LIMITED COMPANY                | PRUDENTIAL PLC COMMON STOCK                     | CUSIP: N/A<br>LEI: 5493001Z3ZE83NGK8Y12       | Long             | EC               |  | GB        |      3492 | NS      | $47599.38     | 1.52%             |  |  |  | No            |                  1 | On Loan: No      |
| WH GROUP LIMITED                                 | WH GROUP LTD COMMON STOCK                       | CUSIP: N/A<br>LEI: 254900A4AYEDRWYSE928       | Long             | EC               |  | HK        |     29456 | NS      | $17132.93     | 0.55%             |  |  |  | Yes           |                  1 | On Loan: No      |
| ABRDN PLC                                        | ABRDN PLC COMMON STOCK                          | CUSIP: N/A<br>LEI: 0TMBS544NMO7GLCE7H90       | Long             | EC               |  | GB        |      3868 | NS      | $8849.79      | 0.28%             |  |  |  | No            |                  1 | On Loan: No      |
| Fresenius SE & Co. KGaA                          | FRESENIUS SE & CO KGAA COMMON STOCK             | CUSIP: N/A<br>LEI: XDFJ0CYCOO1FXRFTQS51       | Long             | EC               |  | DE        |      3520 | NS      | $98909.22     | 3.16%             |  |  |  | No            |                  1 | On Loan: No      |
| Industria de Diseno Textil, S.A.                 | INDUSTRIA DE DISENO TEXTIL COMMON STOCK         | CUSIP: E6282N100<br>LEI: 549300TTCXZOGZM2EY83 | Long             | EC               |  | ES        |      1204 | NS      | $32027.10     | 1.02%             |  |  |  | No            |                  1 | On Loan: No      |
| EASYJET PLC                                      | EASYJET PLC COMMON STOCK                        | CUSIP: N/A<br>LEI: 2138001S47XKWIB7TH90       | Long             | EC               |  | GB        |      6889 | NS      | $27034.30     | 0.86%             |  |  |  | No            |                  1 | On Loan: No      |
| Prosus N.V.                                      | PROSUS NV COMMON STOCK                          | CUSIP: N/A<br>LEI: 635400Z5LQ5F9OLVT688       | Long             | EC               |  | NL        |       516 | NS      | $35598.97     | 1.14%             |  |  |  | No            |                  1 | On Loan: No      |
| ACCOR SA                                         | ACCOR SA COMMON STOCK                           | CUSIP: N/A<br>LEI: 969500QZC2Q0TK11NV07       | Long             | EC               |  | FR        |      1574 | NS      | $39342.00     | 1.26%             |  |  |  | No            |                  1 | On Loan: No      |
| GSK PLC                                          | GSK PLC COMMON STOCK                            | CUSIP: N/A<br>LEI: 5493000HZTVUYLO1D793       | Long             | EC               |  | GB        |      2016 | NS      | $35037.99     | 1.12%             |  |  |  | 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        |       200 | NS      | $20633.95     | 0.66%             |  |  |  | No            |                  1 | On Loan: No      |
| Samsung Electronics Co., Ltd.                    | SAMSUNG ELECTRONICS CO LTD COMMON STOCK         | CUSIP: N/A<br>LEI: 9884007ER46L6N7EI764       | Long             | EC               |  | KR        |      1863 | NS      | $81773.11     | 2.62%             |  |  |  | No            |                  2 | On Loan: No      |
| Henkel AG & Co. KGaA                             | Henkel AG & Co KGaA PREFERRED STOCK             | CUSIP: N/A<br>LEI: 549300VZCL1HTH4O4Y49       | Long             | EP               |  | DE        |       382 | NS      | $26587.35     | 0.85%             |  |  |  | No            |                  1 | On Loan: No      |
| TAYLOR WIMPEY PLC                                | TAYLOR WIMPEY PLC COMMON STOCK                  | CUSIP: N/A<br>LEI: 21380089BTRXTD8S3R66       | Long             | EC               |  | GB        |     34803 | NS      | $42769.54     | 1.37%             |  |  |  | No            |                  1 | On Loan: No      |
| Samsung Electronics Co., Ltd.                    | SAMSUNG ELECTR-GDR REG S DEPOSITARY RECEIPT     | CUSIP: 796050888<br>LEI: 9884007ER46L6N7EI764 | Long             | EC               |  | GB        |        19 | NS      | $20995.00     | 0.67%             |  |  |  | No            |                  1 | On Loan: No      |
| NIDEC CORPORATION                                | NIDEC CORP COMMON STOCK                         | CUSIP: N/A<br>LEI: 353800IF171MZTNL6Y31       | Long             | EC               |  | JP        |      1100 | NS      | $57321.70     | 1.83%             |  |  |  | No            |                  1 | On Loan: No      |
| SK Square Co., Ltd.                              | SK SQUARE CO LTD COMMON STOCK                   | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               |  | KR        |        66 | NS      | $1756.82      | 0.06%             |  |  |  | No            |                  2 | On Loan: No      |
| Adecco Group AG                                  | ADECCO GROUP AG-REG COMMON STOCK                | CUSIP: N/A<br>LEI: NI14Y5UMU60O7JE9P611       | Long             | EC               |  | CH        |      2600 | NS      | $85649.71     | 2.74%             |  |  |  | No            |                  1 | On Loan: No      |
| WHITBREAD PLC                                    | WHITBREAD PLC COMMON STOCK                      | CUSIP: N/A<br>LEI: 21380099VMZKRMN3EX36       | Long             | EC               |  | GB        |       850 | NS      | $26409.64     | 0.84%             |  |  |  | No            |                  1 | On Loan: No      |
| Taiwan Semiconductor Manufacturing Co., Ltd.     | TAIWAN SEMICONDUCTOR-SP ADR DEPOSITARY RECEIPT  | CUSIP: 874039100<br>LEI: 549300KB6NK5SBD14S87 | Long             | EC               |  | US        |       722 | NS      | $53781.78     | 1.72%             |  |  |  | No            |                  1 | On Loan: No      |
| RENAISSANCERE HOLDINGS LTD.                      | RENAISSANCERE HOLDINGS LTD COMMON STOCK         | CUSIP: G7496G103<br>LEI: EK6GB9U3U58PDI411C94 | Long             | EC               |  | US        |       326 | NS      | $60058.98     | 1.92%             |  |  |  | No            |                  1 | On Loan: No      |
| WEIBO CORPORATION                                | WEIBO CORP-SPON ADR DEPOSITARY RECEIPT          | CUSIP: 948596101<br>LEI: 549300Q9ID4640FE0422 | Long             | EC               |  | US        |      1395 | NS      | $26672.40     | 0.85%             |  |  |  | No            |                  1 | On Loan: No      |
| Sands China Ltd.                                 | SANDS CHINA LTD COMMON STOCK                    | CUSIP: N/A<br>LEI: 549300EVO6UZDGY05787       | Long             | EC               |  | HK        |     48000 | NS      | $159273.33    | 5.10%             |  |  |  | No            |                  1 | On Loan: No      |
| TRIP.COM GROUP LIMITED                           | TRIP.COM GROUP LTD-ADR DEPOSITARY RECEIPT       | CUSIP: 89677Q107<br>LEI: 2549004RMYDSRQL4KW41 | Long             | EC               |  | US        |       649 | NS      | $22325.60     | 0.71%             |  |  |  | No            |                  1 | On Loan: No      |
| ITOCHU Corporation                               | ITOCHU CORP COMMON STOCK                        | CUSIP: N/A<br>LEI: J48DJYXDTLHM30UMYI18       | Long             | EC               |  | JP        |      1800 | NS      | $56863.76     | 1.82%             |  |  |  | No            |                  1 | On Loan: No      |
| SHINHAN FINANCIAL GROUP CO.,LTD                  | SHINHAN FINANCIAL GROUP-ADR DEPOSITARY RECEIPT  | CUSIP: 824596100<br>LEI: 988400EB8A6G49E5KO54 | Long             | EC               |  | US        |      1097 | NS      | $30639.21     | 0.98%             |  |  |  | No            |                  1 | On Loan: No      |
| Daiwa Securities Group Inc.                      | DAIWA SECURITIES GROUP INC COMMON STOCK         | CUSIP: N/A<br>LEI: 353800WRC7Y23PWFJG38       | Long             | EC               |  | JP        |     10000 | NS      | $44422.43     | 1.42%             |  |  |  | No            |                  1 | On Loan: No      |
| ALIBABA GROUP HOLDING LIMITED                    | ALIBABA GROUP HOLDING LTD COMMON STOCK          | CUSIP: N/A<br>LEI: 5493001NTNQJDH60PM02       | Long             | EC               |  | HK        |      5100 | NS      | $56354.85     | 1.80%             |  |  |  | No            |                  1 | On Loan: No      |
| POSCO Holdings Inc.                              | POSCO HOLDINGS INC -SPON ADR DEPOSITARY RECEIPT | CUSIP: 693483109<br>LEI: 988400E5HRVX81AYLM04 | Long             | EC               |  | US        |       441 | NS      | $24021.27     | 0.77%             |  |  |  | No            |                  1 | On Loan: No      |
| Nokia Oyj                                        | NOKIA OYJ COMMON STOCK                          | CUSIP: N/A<br>LEI: 549300A0JPRWG1KI7U06       | Long             | EC               |  | FI        |      1844 | NS      | $8541.08      | 0.27%             |  |  |  | No            |                  1 | On Loan: No      |
| Galaxy Entertainment Group Limited               | GALAXY ENTERTAINMENT GROUP L COMMON STOCK       | CUSIP: N/A<br>LEI: 549300ZSEBV3HR826S10       | Long             | EC               |  | HK        |      7000 | NS      | $46275.36     | 1.48%             |  |  |  | No            |                  1 | On Loan: No      |
| CK ASSET HOLDINGS LIMITED                        | CK ASSET HOLDINGS LTD COMMON STOCK              | CUSIP: N/A<br>LEI: 5299006GJZSGP78B8S35       | Long             | EC               |  | HK        |      5500 | NS      | $33857.75     | 1.08%             |  |  |  | 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        |      2815 | NS      | $38946.98     | 1.25%             |  |  |  | Yes           |                  1 | On Loan: No      |
| TotalEnergies SE                                 | TOTALENERGIES SE COMMON STOCK                   | CUSIP: N/A<br>LEI: 529900S21EQ1BO4ESM68       | Long             | EC               |  | FR        |      1203 | NS      | $75526.34     | 2.42%             |  |  |  | No            |                  1 | On Loan: No      |
| UBS Group AG                                     | UBS GROUP AG-REG COMMON STOCK                   | CUSIP: N/A<br>LEI: 549300SZJ9VS8SGXAN81       | Long             | EC               |  | CH        |      1768 | NS      | $32897.25     | 1.05%             |  |  |  | No            |                  1 | On Loan: No      |
| QBE INSURANCE GROUP LIMITED                      | QBE INSURANCE GROUP LTD COMMON STOCK            | CUSIP: N/A<br>LEI: 549300D2FBW76FPUSG65       | Long             | EC               |  | AU        |      1728 | NS      | $15800.54     | 0.51%             |  |  |  | No            |                  1 | On Loan: No      |
| AEGON N.V.                                       | AEGON NV COMMON STOCK                           | CUSIP: N/A<br>LEI: O4QK7KMMK83ITNTHUG69       | Long             | EC               |  | NL        |     12970 | NS      | $65780.90     | 2.10%             |  |  |  | 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        |      6000 | NS      | $39703.03     | 1.27%             |  |  |  | No            |                  1 | On Loan: No      |

### Signature

**Date Signed:** 2022-12-31

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

**Signature:** Andy Metzger

**Name of Signer:** Andy Metzger

**Title:** CFO