# EDGAR Filing Document

**Accession Number:** 0001593547
**File Stem:** 0002048251-26-002389
**Filing Date:** 2026-3
**Character Count:** 7804
**Document Hash:** 0e01a8f3d542661ef0921d0a51fe6f0b
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0002048251-26-002389.hdr.sgml**: 20260327

**ACCESSION NUMBER**: 0002048251-26-002389

**CONFORMED SUBMISSION TYPE**: 24F-2NT

**PUBLIC DOCUMENT COUNT**: 1

**CONFORMED PERIOD OF REPORT**: 20251231

**FILED AS OF DATE**: 20260327

**DATE AS OF CHANGE**: 20260327

**EFFECTIVENESS DATE**: 20260327

**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:** 24F-2NT
- **SEC ACT:** 1933 Act
- **SEC FILE NUMBER:** 333-192858
- **FILM NUMBER:** 26802912

**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

### PENN MUTUAL AM STRATEGIC INCOME FUND (Series ID: S000061933)

---

|  |  |  |
|:---|:---|:---|
| Class Name | Ticker Symbol | Class ID   |
| I Shares   | PMUBX         | C000200669 |

---

### PENN MUTUAL AM 1847 INCOME FUND (Series ID: S000069101)

---

|  |  |  |
|:---|:---|:---|
| Class Name | Ticker Symbol | Class ID   |
| I Shares   | PMEFX         | C000220871 |

---

### DEMOCRACY INTERNATIONAL FUND (Series ID: S000071338)

---

|  |  |  |
|:---|:---|:---|
| Class Name                          | Ticker Symbol | Class ID   |
| DEMOCRACY INTERNATIONAL FUND Shares | DMCY          | C000226322 |

---

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

---

|  |  |  |
|:---|:---|:---|
| Class Name           | Ticker Symbol | Class ID   |
| Investor Shares      | ARMVX         | C000226874 |
| Institutional Shares | ARMIX         | C000226875 |

---

### ARGA INTERNATIONAL VALUE FUND (Series ID: S000071563)

---

|  |  |  |
|:---|:---|:---|
| Class Name           | Ticker Symbol | Class ID   |
| Investor Shares      | ARVVX         | C000226876 |
| Institutional Shares | ARVIX         | C000226877 |

---

### STRATEGAS GLOBAL POLICY OPPORTUNITIES ETF (Series ID: S000075077)

---

|  |  |  |
|:---|:---|:---|
| Class Name                                | Ticker Symbol | Class ID   |
| STRATEGAS GLOBAL POLICY OPPORTUNITIES ETF | SAGP          | C000233881 |

---

### STRATEGAS MACRO THEMATIC OPPORTUNITIES ETF (Series ID: S000075078)

---

|  |  |  |
|:---|:---|:---|
| Class Name                                 | Ticker Symbol | Class ID   |
| STRATEGAS MACRO THEMATIC OPPORTUNITIES ETF | SAMT          | C000233882 |

---

### FS Chiron Real Development Fund (Series ID: S000075443)

---

|  |  |  |
|:---|:---|:---|
| Class Name | Ticker Symbol | Class ID   |
| Class I    | FSRLX         | C000234543 |
| Class A    | FARLX         | C000234544 |

---

### FS Multi-Strategy Alternatives Fund (Series ID: S000075444)

---

|  |  |  |
|:---|:---|:---|
| Class Name | Ticker Symbol | Class ID   |
| Class I    | FSMSX         | C000234545 |
| Class A    | FSMMX         | C000234546 |

---

### ARGA VALUE FUND (Series ID: S000080564)

---

|  |  |  |
|:---|:---|:---|
| Class Name           | Ticker Symbol | Class ID   |
| Institutional Shares | ARUIX         | C000243045 |
| Investor Shares      | ARUVX         | C000243046 |

---

### Strategas Macro Momentum ETF (Series ID: S000084480)

---

|  |  |  |
|:---|:---|:---|
| Class Name                   | Ticker Symbol | Class ID   |
| Strategas Macro Momentum ETF | SAMM          | C000248869 |

---

## Series and Classes Contracts Data

### PENN MUTUAL AM STRATEGIC INCOME FUND (Series ID: S000061933)

| Class ID   | Class Name   | Ticker Symbol   |
|:---|:---|:---|
| C000200669 | I Shares     | PMUBX           |

### PENN MUTUAL AM 1847 INCOME FUND (Series ID: S000069101)

| Class ID   | Class Name   | Ticker Symbol   |
|:---|:---|:---|
| C000220871 | I Shares     | PMEFX           |

### DEMOCRACY INTERNATIONAL FUND (Series ID: S000071338)

| Class ID   | Class Name                          | Ticker Symbol   |
|:---|:---|:---|
| C000226322 | DEMOCRACY INTERNATIONAL FUND Shares | DMCY            |

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

| Class ID   | Class Name           | Ticker Symbol   |
|:---|:---|:---|
| C000226874 | Investor Shares      | ARMVX           |
| C000226875 | Institutional Shares | ARMIX           |

### ARGA INTERNATIONAL VALUE FUND (Series ID: S000071563)

| Class ID   | Class Name           | Ticker Symbol   |
|:---|:---|:---|
| C000226876 | Investor Shares      | ARVVX           |
| C000226877 | Institutional Shares | ARVIX           |

### STRATEGAS GLOBAL POLICY OPPORTUNITIES ETF (Series ID: S000075077)

| Class ID   | Class Name                                | Ticker Symbol   |
|:---|:---|:---|
| C000233881 | STRATEGAS GLOBAL POLICY OPPORTUNITIES ETF | SAGP            |

### STRATEGAS MACRO THEMATIC OPPORTUNITIES ETF (Series ID: S000075078)

| Class ID   | Class Name                                 | Ticker Symbol   |
|:---|:---|:---|
| C000233882 | STRATEGAS MACRO THEMATIC OPPORTUNITIES ETF | SAMT            |

### FS Chiron Real Development Fund (Series ID: S000075443)

| Class ID   | Class Name   | Ticker Symbol   |
|:---|:---|:---|
| C000234543 | Class I      | FSRLX           |
| C000234544 | Class A      | FARLX           |

### FS Multi-Strategy Alternatives Fund (Series ID: S000075444)

| Class ID   | Class Name   | Ticker Symbol   |
|:---|:---|:---|
| C000234545 | Class I      | FSMSX           |
| C000234546 | Class A      | FSMMX           |

### ARGA VALUE FUND (Series ID: S000080564)

| Class ID   | Class Name           | Ticker Symbol   |
|:---|:---|:---|
| C000243045 | Institutional Shares | ARUIX           |
| C000243046 | Investor Shares      | ARUVX           |

### Strategas Macro Momentum ETF (Series ID: S000084480)

| Class ID   | Class Name                   | Ticker Symbol   |
|:---|:---|:---|
| C000248869 | Strategas Macro Momentum ETF | SAMM            |

## FORM 24F-2NT: Annual Notice of Securities Sold Pursuant to Rule 24f-2

### 24F-2NT: Filer Information

**Filer CIK:** 0001593547

**Is this a LIVE or TEST Filing?:** LIVE

**Filer Investment Company Type:** N-1A

### 24F-2NT: Annual Filing Information

**1. Name and address of issuer:**

- **Name of Issuer:** ADVISORS' INNER CIRCLE FUND III

- **Address:** One Freedom Valley Drive, Oaks, PA 19456

**2. The Name and EDGAR Identifier of each series or class of securities for which this Form is filed:**

- [ ] Check box if the Form is being filed for all series and classes of the issuer.

**3. Investment Company Act File Number:** 811-22920

   **Securities Act File Number:** 333-192858

**4(a). Last day of fiscal year for which this Form is filed:** 12/31/2025

**4(b). Check box if this Form is being filed late:** [ ]

**4(c). Check box if this is the last time the issuer will be filing this Form:** [ ]

**5. Calculation of registration fee:**

- **(i) Aggregate sale price of securities sold during the fiscal year:** $1649132635.00

- **(ii) Aggregate price of securities redeemed or repurchased during the fiscal year:** $1091469347.53

- **(iii) Aggregate price of securities redeemed or repurchased during any prior fiscal year:** $0.00

- **(iv) Total available redemption credits [add Items 5(ii) and 5(iii)]:** $1091469347.53

- **(v) Net sales:** $557663287.47

- **(vi) Redemption credits available for use in future years:** $0.00

- **(vii) Multiplier for determining registration fee:** 0.0001381

- **(viii) Registration fee due:** $77013.30

**Signatures**

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

**Date:** 03/27/2026

**Signature:** Andrew Metzger