# EDGAR Filing Document

**Accession Number:** 0001593547
**File Stem:** 0002048251-26-002798
**Filing Date:** 2026-4
**Character Count:** 21148
**Document Hash:** 47471d4965b46c286985101b2b1ad7fc
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0002048251-26-002798.hdr.sgml**: 20260401

**ACCESSION NUMBER**: 0002048251-26-002798

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 1

**CONFORMED PERIOD OF REPORT**: 20260131

**FILED AS OF DATE**: 20260401

**DATE AS OF CHANGE**: 20260401

**PERIOD START**: 20260731

**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:** 26825604

**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

### KBI GLOBAL INVESTORS AQUARIUS FUND (Series ID: S000063187)

| Class ID   | Class Name           | Ticker Symbol   |
|:---|:---|:---|
| C000204809 | Institutional Shares | KBIWX           |

## 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:** KBI GLOBAL INVESTORS AQUARIUS FUND

- **b. EDGAR series identifier (if any):** S000063187

- **c. LEI of Series:** 549300MI2S21D82YVV14

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

- **a. Date of fiscal year-end:** 2026-07-31

- **b. Date as of which information is reported:** 2026-01-31

**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:** $61647906.15

**Total Liabilities:** $102337.52

**Net Assets:** $61545568.63

**Cash Not Reported:** $3841.74

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000204809 | 6.93%                | -0.40%               | 0.17%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $243107.59               | $3716251.36                                |
| Month 2  | $353412.26               | $-625581.14                                |
| Month 3  | $232516.73               | $-126081.58                                |

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| TOTO LTD.                                                      | TOTO LTD COMMON STOCK                           | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               |  | JP        |     10200 | NS      | $320575.00    | 0.52%             |  |  |  | No            |                  1 | On Loan: No      |
| MASCO CORPORATION                                              | MASCO CORP COMMON STOCK                         | CUSIP: 574599106<br>LEI: 5GCSNMQXHEYA1JO8QN11 | Long             | EC               |  | US        |     10394 | NS      | $686939.46    | 1.12%             |  |  |  | No            |                  1 | On Loan: No      |
| AECOM                                                          | AECOM COMMON STOCK                              | CUSIP: 00766T100<br>LEI: 0EEB8GF0W0NPCIHZX097 | Long             | EC               |  | US        |      6999 | NS      | $674913.57    | 1.10%             |  |  |  | No            |                  1 | On Loan: No      |
| PENTAIR PUBLIC LIMITED COMPANY                                 | PENTAIR PLC COMMON STOCK                        | CUSIP: G7S00T104<br>LEI: 549300EVR9D56WPSRP15 | Long             | EC               |  | US        |     16811 | NS      | $1771375.07   | 2.88%             |  |  |  | No            |                  1 | On Loan: No      |
| COSTAIN GROUP PLC                                              | COSTAIN GROUP PLC COMMON STOCK                  | CUSIP: N/A<br>LEI: 213800PKIJBZ2EDTKC88       | Long             | EC               |  | GB        |     78088 | NS      | $189130.54    | 0.31%             |  |  |  | No            |                  1 | On Loan: No      |
| MUELLER WATER PRODUCTS, INC.                                   | MUELLER WATER PRODUCTS INC-A COMMON STOCK       | CUSIP: 624758108<br>LEI: 549300F7ZU4P1F8V8L60 | Long             | EC               |  | US        |     21681 | NS      | $586904.67    | 0.95%             |  |  |  | No            |                  1 | On Loan: No      |
| AMERICAN WATER WORKS COMPANY, INC.                             | AMERICAN WATER WORKS CO INC COMMON STOCK        | CUSIP: N/A<br>LEI: 549300DXHIJQMD5WFW18       | Long             | EC               |  | US        |     12525 | NS      | $1617353.25   | 2.63%             |  |  |  | No            |                  1 | On Loan: No      |
| Companhia de Saneamento Basico do Estado de Sao Paulo - SABESP | CIA SANEAMENTO BASICO DE-ADR DEPOSITARY RECEIPT | CUSIP: 20441A102<br>LEI: 254900UOXRZRS2TNWP19 | Long             | EC               |  | US        |     51816 | NS      | $1391776.57   | 2.26%             |  |  |  | No            |                  1 | On Loan: No      |
| SITEONE LANDSCAPE SUPPLY, INC.                                 | SITEONE LANDSCAPE SUPPLY INC COMMON STOCK       | CUSIP: 82982L103<br>LEI: 5299008LX7SBD4HIAU03 | Long             | EC               |  | US        |      5330 | NS      | $765068.20    | 1.24%             |  |  |  | No            |                  1 | On Loan: No      |
| ENERGY RECOVERY, INC.                                          | ENERGY RECOVERY INC COMMON STOCK                | CUSIP: 29270J100<br>LEI: 549300ZEQL52Z525WJ22 | Long             | EC               |  | US        |     42350 | NS      | $617886.50    | 1.00%             |  |  |  | No            |                  1 | On Loan: No      |
| H2O AMERICA                                                    | H2O AMERICA COMMON STOCK                        | CUSIP: 784305104<br>LEI: N/A                  | Long             | EC               |  | US        |     49488 | NS      | $2575355.52   | 4.18%             |  |  |  | No            |                  1 | On Loan: No      |
| IDEX CORPORATION                                               | IDEX CORP COMMON STOCK                          | CUSIP: 45167R104<br>LEI: 549300U5Y5EL6PHYLF13 | Long             | EC               |  | US        |     15225 | NS      | $3022923.75   | 4.91%             |  |  |  | No            |                  1 | On Loan: No      |
| Kurita Water Industries Ltd.                                   | KURITA WATER INDUSTRIES LTD COMMON STOCK        | CUSIP: N/A<br>LEI: 52990086GS2ON69UMX34       | Long             | EC               |  | JP        |     50310 | NS      | $2516495.97   | 4.09%             |  |  |  | No            |                  1 | On Loan: No      |
| ECOLAB INC.                                                    | ECOLAB INC COMMON STOCK                         | CUSIP: 278865100<br>LEI: 82DYEISM090VG8LTLS26 | Long             | EC               |  | US        |      6445 | NS      | $1817425.55   | 2.95%             |  |  |  | No            |                  1 | On Loan: No      |
| FRANKLIN ELECTRIC CO., INC.                                    | FRANKLIN ELECTRIC CO INC COMMON STOCK           | CUSIP: 353514102<br>LEI: RR6AURIKMXUE4Q24G284 | Long             | EC               |  | US        |      8447 | NS      | $841490.14    | 1.37%             |  |  |  | No            |                  1 | On Loan: No      |
| FERGUSON ENTERPRISES INC.                                      | FERGUSON ENTERPRISES INC COMMON STOCK           | CUSIP: 31488V107<br>LEI: 2138003JYQMRP3SLX189 | Long             | EC               |  | US        |      4491 | NS      | $1133797.86   | 1.84%             |  |  |  | No            |                  1 | On Loan: No      |
| ARCADIS N.V.                                                   | ARCADIS NV COMMON STOCK                         | CUSIP: N/A<br>LEI: 7245000UZH70GO047N03       | Long             | EC               |  | NL        |     33876 | NS      | $1521380.66   | 2.47%             |  |  |  | No            |                  1 | On Loan: No      |
| N/A                                                            | BROWN BROTHERS HARRIMAN SWEEP INTEREST          | CUSIP: N/A<br>LEI: N/A                        | Long             | STIV             |  | US        |   1319621 | PA      | $1319621.26   | 2.14%             |  |  |  | No            |                  1 | On Loan: No      |
| NORMA Group SE                                                 | NORMA GROUP SE COMMON STOCK                     | CUSIP: N/A<br>LEI: 5299000LM9HC76W5XD46       | Long             | EC               |  | DE        |     26343 | NS      | $458534.32    | 0.75%             |  |  |  | No            |                  1 | On Loan: No      |
| Georg Fischer AG                                               | FISCHER (GEORG)-REG COMMON STOCK                | CUSIP: H26091274<br>LEI: 529900CMRQYW4U1W2456 | Long             | EC               |  | CH        |     14623 | NS      | $974635.73    | 1.58%             |  |  |  | No            |                  1 | On Loan: No      |
| TETRA TECH, INC.                                               | TETRA TECH INC COMMON STOCK                     | CUSIP: 88162G103<br>LEI: 549300UJ1LP7JGJC5P32 | Long             | EC               |  | US        |     30985 | NS      | $1166895.10   | 1.90%             |  |  |  | No            |                  1 | On Loan: No      |
| WEIR GROUP PLC(THE)                                            | WEIR GROUP PLC/THE COMMON STOCK                 | CUSIP: N/A<br>LEI: 549300KDR56WHY9I3D10       | Long             | EC               |  | GB        |     24150 | NS      | $1066671.10   | 1.73%             |  |  |  | No            |                  1 | On Loan: No      |
| Aalberts N.V.                                                  | AALBERTS NV COMMON STOCK                        | CUSIP: N/A<br>LEI: 549300EMP9DT6Q35HZ31       | Long             | EC               |  | NL        |     48452 | NS      | $1860493.23   | 3.02%             |  |  |  | No            |                  1 | On Loan: No      |
| UNITED UTILITIES GROUP PLC                                     | UNITED UTILITIES GROUP PLC COMMON STOCK         | CUSIP: N/A<br>LEI: 2138002IEYQAOC88ZJ59       | Long             | EC               |  | GB        |    115510 | NS      | $1978163.24   | 3.21%             |  |  |  | No            |                  1 | On Loan: No      |
| THE TORO COMPANY                                               | TORO CO COMMON STOCK                            | CUSIP: 891092108<br>LEI: YJKE4YIT6BWQHVEW0D14 | Long             | EC               |  | US        |     15608 | NS      | $1428132.00   | 2.32%             |  |  |  | No            |                  1 | On Loan: No      |
| VALMONT INDUSTRIES, INC.                                       | VALMONT INDUSTRIES COMMON STOCK                 | CUSIP: 920253101<br>LEI: 5493009ZGZJJ8F77JN08 | Long             | EC               |  | US        |      1850 | NS      | $824286.00    | 1.34%             |  |  |  | No            |                  1 | On Loan: No      |
| JACOBS SOLUTIONS INC.                                          | JACOBS SOLUTIONS INC COMMON STOCK               | CUSIP: 46982L108<br>LEI: 254900E3KHXCC2C8K272 | Long             | EC               |  | US        |      4281 | NS      | $579048.06    | 0.94%             |  |  |  | No            |                  1 | On Loan: No      |
| Stantec Inc.                                                   | STANTEC INC COMMON STOCK                        | CUSIP: 85472N109<br>LEI: 549300MZ7NGUZDCP2T16 | Long             | EC               |  | CA        |      3735 | NS      | $370139.83    | 0.60%             |  |  |  | No            |                  1 | On Loan: No      |
| SEVERN TRENT PLC                                               | SEVERN TRENT PLC COMMON STOCK                   | CUSIP: N/A<br>LEI: 213800RPBXRETY4A4C59       | Long             | EC               |  | GB        |     27462 | NS      | $1103028.27   | 1.79%             |  |  |  | No            |                  1 | On Loan: No      |
| MONTROSE ENVIRONMENTAL GROUP, INC.                             | MONTROSE ENVIRONMENTAL GROUP COMMON STOCK       | CUSIP: 615111101<br>LEI: 254900ASI8K3LUB8Q958 | Long             | EC               |  | US        |      7956 | NS      | $177259.68    | 0.29%             |  |  |  | No            |                  1 | On Loan: No      |
| ROPER TECHNOLOGIES, INC.                                       | ROPER TECHNOLOGIES INC COMMON STOCK             | CUSIP: 776696106<br>LEI: 54930003T4SXCIWVXY35 | Long             | EC               |  | US        |      1412 | NS      | $524176.76    | 0.85%             |  |  |  | No            |                  1 | On Loan: No      |
| COWAY Co., Ltd.                                                | COWAY CO LTD COMMON STOCK                       | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               |  | KR        |     27920 | NS      | $1615456.01   | 2.62%             |  |  |  | No            |                  1 | On Loan: No      |
| CORE & MAIN, INC.                                              | CORE & MAIN INC-CLASS A COMMON STOCK            | CUSIP: 21874C102<br>LEI: N/A                  | Long             | EC               |  | US        |     24187 | NS      | $1290618.32   | 2.10%             |  |  |  | No            |                  1 | On Loan: No      |
| Orbia Advance Corporation S.A.B. de CV                         | ORBIA ADVANCE CORP SAB DE CV COMMON STOCK       | CUSIP: N/A<br>LEI: 549300MVHZ20SBIOEQ79       | Long             | EC               |  | MX        |    201280 | NS      | $213534.63    | 0.35%             |  |  |  | No            |                  1 | On Loan: No      |
| ADVANCED DRAINAGE SYSTEMS, INC.                                | ADVANCED DRAINAGE SYSTEMS IN COMMON STOCK       | CUSIP: 00790R104<br>LEI: 6QQTOZ5MF5DHM7K92I60 | Long             | EC               |  | US        |      7622 | NS      | $1158848.88   | 1.88%             |  |  |  | No            |                  1 | On Loan: No      |
| DUPONT DE NEMOURS, INC.                                        | DUPONT DE NEMOURS INC COMMON STOCK              | CUSIP: 26614N102<br>LEI: 5493004JF0SDFLM8GD76 | Long             | EC               |  | US        |     15187 | NS      | $667013.04    | 1.08%             |  |  |  | No            |                  1 | On Loan: No      |
| Essential Utilities, Inc.                                      | ESSENTIAL UTILITIES INC COMMON STOCK            | CUSIP: 29670G102<br>LEI: 549300ILTEOF3E3QY357 | Long             | EC               |  | US        |     44593 | NS      | $1729762.47   | 2.81%             |  |  |  | No            |                  1 | On Loan: No      |
| SPX TECHNOLOGIES, INC.                                         | SPX TECHNOLOGIES INC COMMON STOCK               | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               |  | US        |      1948 | NS      | $405982.68    | 0.66%             |  |  |  | No            |                  1 | On Loan: No      |
| ITRON, INC.                                                    | ITRON INC COMMON STOCK                          | CUSIP: 465741106<br>LEI: 24F6LSZD18II6ICG6S41 | Long             | EC               |  | US        |      9419 | NS      | $933234.52    | 1.52%             |  |  |  | No            |                  1 | On Loan: No      |
| HALMA PUBLIC LIMITED COMPANY                                   | HALMA PLC COMMON STOCK                          | CUSIP: N/A<br>LEI: 2138007FRGLUR9KGBT40       | Long             | EC               |  | GB        |     24984 | NS      | $1213432.79   | 1.97%             |  |  |  | No            |                  1 | On Loan: No      |
| Andritz AG                                                     | ANDRITZ AG COMMON STOCK                         | CUSIP: N/A<br>LEI: 549300VZKC61IR5U8G96       | Long             | EC               |  | AT        |     10885 | NS      | $941821.53    | 1.53%             |  |  |  | No            |                  1 | On Loan: No      |
| CHINA WATER AFFAIRS GROUP LIMITED                              | CHINA WATER AFFAIRS GROUP COMMON STOCK          | CUSIP: N/A<br>LEI: 529900XTSVH0DH4CEX74       | Long             | EC               |  | HK        |    347730 | NS      | $240025.39    | 0.39%             |  |  |  | No            |                  1 | On Loan: No      |
| VERALTO CORPORATION                                            | VERALTO CORP COMMON STOCK                       | CUSIP: 92338C103<br>LEI: 635400FJE6GSOJUSNY27 | Long             | EC               |  | US        |     17529 | NS      | $1735053.41   | 2.82%             |  |  |  | No            |                  1 | On Loan: No      |
| PENNON GROUP PLC                                               | PENNON GROUP PLC COMMON STOCK                   | CUSIP: N/A<br>LEI: 213800V1CCTS41GWH423       | Long             | EC               |  | GB        |    282120 | NS      | $2114640.74   | 3.44%             |  |  |  | No            |                  1 | On Loan: No      |
| XYLEM INC.                                                     | XYLEM INC COMMON STOCK                          | CUSIP: 98419M100<br>LEI: 549300DF5MV96DRYLQ48 | Long             | EC               |  | US        |     20817 | NS      | $2870039.79   | 4.66%             |  |  |  | No            |                  1 | On Loan: No      |
| FORTUNE BRANDS INNOVATIONS, INC.                               | FORTUNE BRANDS INNOVATIONS I COMMON STOCK       | CUSIP: 34964C106<br>LEI: 54930032LHW54PQUJD44 | Long             | EC               |  | US        |     27844 | NS      | $1506360.40   | 2.45%             |  |  |  | No            |                  1 | On Loan: No      |
| BADGER METER, INC.                                             | BADGER METER INC COMMON STOCK                   | CUSIP: N/A<br>LEI: 5493002JENE20OGTUG20       | Long             | EC               |  | US        |      3166 | NS      | $464072.28    | 0.75%             |  |  |  | No            |                  1 | On Loan: No      |
| A. O. SMITH CORPORATION                                        | SMITH (A.O.) CORP COMMON STOCK                  | CUSIP: 831865209<br>LEI: 549300XG4US7UJNECY36 | Long             | EC               |  | US        |     12310 | NS      | $904661.90    | 1.47%             |  |  |  | No            |                  1 | On Loan: No      |
| LINDSAY CORPORATION                                            | LINDSAY CORP COMMON STOCK                       | CUSIP: 535555106<br>LEI: 549300ZFO0QG5H8TPI61 | Long             | EC               |  | US        |      3058 | NS      | $383075.66    | 0.62%             |  |  |  | No            |                  1 | On Loan: No      |
| VEOLIA ENVIRONNEMENT SA                                        | VEOLIA ENVIRONNEMENT COMMON STOCK               | CUSIP: N/A<br>LEI: 969500LENY69X51OOT31       | Long             | EC               |  | FR        |    114127 | NS      | $4280598.00   | 6.96%             |  |  |  | No            |                  1 | On Loan: No      |
| INGERSOLL RAND INC.                                            | INGERSOLL-RAND INC COMMON STOCK                 | CUSIP: 45687V106<br>LEI: 5299004C02FMZCUOIR50 | Long             | EC               |  | US        |      9769 | NS      | $841013.21    | 1.37%             |  |  |  | No            |                  1 | On Loan: No      |

### Signature

**Date Signed:** 2026-01-31

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

**Signature:** Andrew Metzger

**Name of Signer:** Andrew Metzger

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