# EDGAR Filing Document

**Accession Number:** 0001593547
**File Stem:** 0001752724-25-158250
**Filing Date:** 2025-6
**Character Count:** 14498
**Document Hash:** 4ed04b8e799a84fd04984c979419432d
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001752724-25-158250.hdr.sgml**: 20250626

**ACCESSION NUMBER**: 0001752724-25-158250

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 1

**CONFORMED PERIOD OF REPORT**: 20250430

**FILED AS OF DATE**: 20250626

**DATE AS OF CHANGE**: 20250626

**PERIOD START**: 20251031

**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:** 251077428

**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

### Knights of Columbus Real Estate Fund (Series ID: S000066637)

| Class ID   | Class Name   | Ticker Symbol   |
|:---|:---|:---|
| C000214836 | I Shares     | KCRIX           |

## 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:** Knights of Columbus Real Estate Fund

- **b. EDGAR series identifier (if any):** S000066637

- **c. LEI of Series:** 549300G02T1PP454QG97

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

- **a. Date of fiscal year-end:** 2025-10-31

- **b. Date as of which information is reported:** 2025-04-30

**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:** $149057057.31

**Total Liabilities:** $135979.95

**Net Assets:** $148921077.36

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000214836 | -1.22%               | -2.95%               | 3.80%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $-476465.02              | $-1587940.94                               |
| Month 2  | $-929137.93              | $-4238052.71                               |
| Month 3  | $-355116.37              | $6254387.94                                |

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| KIMCO REALTY CORPORATION.               | KIMCO REALTY CORP REIT                 | CUSIP: 49446R109<br>LEI: 254900ARY41P4V1JL861 | Long             | EC               |  | US        |     38311 | NS      | $765453.78    | 0.51%             |  |  |  | No            |                  1 | On Loan: No      |
| SIMON PROPERTY GROUP, INC.              | SIMON PROPERTY GROUP INC REIT          | CUSIP: 828806109<br>LEI: 529900GQL5X8H7AO3T64 | Long             | EC               |  | US        |     37809 | NS      | $5950380.42   | 4.00%             |  |  |  | No            |                  1 | On Loan: No      |
| CBRE GROUP, INC.                        | CBRE GROUP INC - A COMMON STOCK        | CUSIP: 12504L109<br>LEI: 52990016II9MJ2OSWA10 | Long             | EC               |  | US        |     11346 | NS      | $1386254.28   | 0.93%             |  |  |  | No            |                  1 | On Loan: No      |
| WELLTOWER INC.                          | WELLTOWER INC REIT                     | CUSIP: 95040Q104<br>LEI: 254900F33BIAR82QTA19 | Long             | EC               |  | US        |     84651 | NS      | $12916896.09  | 8.67%             |  |  |  | No            |                  1 | On Loan: No      |
| EQUINIX, INC.                           | EQUINIX INC REIT                       | CUSIP: 29444U700<br>LEI: 549300EVUN2BTLJ3GT74 | Long             | EC               |  | US        |     12958 | NS      | $11153598.50  | 7.49%             |  |  |  | No            |                  1 | On Loan: No      |
| RYMAN HOSPITALITY PROPERTIES, INC.      | RYMAN HOSPITALITY PROPERTIES REIT      | CUSIP: 78377T107<br>LEI: 529900GCCWW9SRMPJR11 | Long             | EC               |  | US        |     15272 | NS      | $1343172.40   | 0.90%             |  |  |  | No            |                  1 | On Loan: No      |
| AMERICAN TOWER CORPORATION              | AMERICAN TOWER CORP REIT               | CUSIP: 03027X100<br>LEI: 5493006ORUSIL88JOE18 | Long             | EC               |  | US        |     67154 | NS      | $15137183.14  | 10.16%            |  |  |  | No            |                  1 | On Loan: No      |
| VORNADO REALTY TRUST                    | VORNADO REALTY TRUST REIT              | CUSIP: 929042109<br>LEI: N/A                  | Long             | EC               |  | US        |     22306 | NS      | $786955.68    | 0.53%             |  |  |  | No            |                  1 | On Loan: No      |
| ESSENTIAL PROPERTIES REALTY TRUST, INC. | ESSENTIAL PROPERTIES REALTY REIT       | CUSIP: 29670E107<br>LEI: 2549009LXQLVYCGLZO50 | Long             | EC               |  | US        |     92007 | NS      | $2959865.19   | 1.99%             |  |  |  | No            |                  1 | On Loan: No      |
| WEYERHAEUSER COMPANY                    | WEYERHAEUSER CO REIT                   | CUSIP: 962166104<br>LEI: 08IRJODWFYBI7QWRGS31 | Long             | EC               |  | US        |    116620 | NS      | $3021624.20   | 2.03%             |  |  |  | No            |                  1 | On Loan: No      |
| N/A                                     | BROWN BROTHERS HARRIMAN SWEEP INTEREST | CUSIP: N/A<br>LEI: N/A                        | Long             | STIV             |  | US        |   2922851 | PA      | $2922850.64   | 1.96%             |  |  |  | No            |                  1 | On Loan: No      |
| VENTAS, INC.                            | VENTAS INC REIT                        | CUSIP: 92276F100<br>LEI: ORQTRC074CWLT3DKHT41 | Long             | EC               |  | US        |     37474 | NS      | $2626177.92   | 1.76%             |  |  |  | No            |                  1 | On Loan: No      |
| INDEPENDENCE REALTY TRUST, INC          | INDEPENDENCE REALTY TRUST IN REIT      | CUSIP: 45378A106<br>LEI: 549300Z3L8NU44NQEB29 | Long             | EC               |  | US        |    161716 | NS      | $3142141.88   | 2.11%             |  |  |  | No            |                  1 | On Loan: No      |
| PUBLIC STORAGE.                         | PUBLIC STORAGE REIT                    | CUSIP: 74460D109<br>LEI: 254900GLQZAD4N7N5Q19 | Long             | EC               |  | US        |     18884 | NS      | $5673320.12   | 3.81%             |  |  |  | No            |                  1 | On Loan: No      |
| REGENCY CENTERS CORPORATION             | REGENCY CENTERS CORP REIT              | CUSIP: 758849103<br>LEI: 529900053A7X7FJ97S58 | Long             | EC               |  | US        |     51677 | NS      | $3730045.86   | 2.50%             |  |  |  | No            |                  1 | On Loan: No      |
| CROWN CASTLE INC.                       | CROWN CASTLE INC REIT                  | CUSIP: 22822V101<br>LEI: 54930012H97VSM0I2R19 | Long             | EC               |  | US        |     41532 | NS      | $4392424.32   | 2.95%             |  |  |  | No            |                  1 | On Loan: No      |
| AMERICAN HOMES 4 RENT                   | AMERICAN HOMES 4 RENT- A REIT          | CUSIP: 02665T306<br>LEI: 549300ZJUO7A58PNUW40 | Long             | EC               |  | US        |     91482 | NS      | $3420511.98   | 2.30%             |  |  |  | No            |                  1 | On Loan: No      |
| BRIXMOR PROPERTY GROUP INC.             | BRIXMOR PROPERTY GROUP INC REIT        | CUSIP: 11120U105<br>LEI: 5299007UXW6Y0W2EGZ95 | Long             | EC               |  | US        |     65559 | NS      | $1633074.69   | 1.10%             |  |  |  | No            |                  1 | On Loan: No      |
| MID-AMERICA APARTMENT COMMUNITIES, INC. | MID-AMERICA APARTMENT COMM REIT        | CUSIP: 59522J103<br>LEI: 549300FQZKFR5YNSHZ21 | Long             | EC               |  | US        |     22046 | NS      | $3519643.90   | 2.36%             |  |  |  | No            |                  1 | On Loan: No      |
| IRON MOUNTAIN INCORPORATED              | IRON MOUNTAIN INC REIT                 | CUSIP: 46284V101<br>LEI: SQL3F6CKNNBM3SQGHX24 | Long             | EC               |  | US        |     32445 | NS      | $2909343.15   | 1.95%             |  |  |  | No            |                  1 | On Loan: No      |
| REALTY INCOME CORPORATION               | REALTY INCOME CORP REIT                | CUSIP: 756109104<br>LEI: 549300CUWDAUZSH43859 | Long             | EC               |  | US        |    115711 | NS      | $6695038.46   | 4.50%             |  |  |  | No            |                  1 | On Loan: No      |
| AVALONBAY COMMUNITIES, INC.             | AVALONBAY COMMUNITIES INC REIT         | CUSIP: 053484101<br>LEI: K9G90K85RBWD2LAGQX17 | Long             | EC               |  | US        |     21275 | NS      | $4467324.50   | 3.00%             |  |  |  | No            |                  1 | On Loan: No      |
| ESSEX PROPERTY TRUST, INC.              | ESSEX PROPERTY TRUST INC REIT          | CUSIP: 297178105<br>LEI: 549300TR2H2VEFX0NC60 | Long             | EC               |  | US        |     16626 | NS      | $4641147.90   | 3.12%             |  |  |  | No            |                  1 | On Loan: No      |
| Tanger Inc.                             | TANGER INC REIT                        | CUSIP: 875465106<br>LEI: UKEW8YSXE4Y581KYOL30 | Long             | EC               |  | US        |     78731 | NS      | $2480813.81   | 1.67%             |  |  |  | No            |                  1 | On Loan: No      |
| TERRENO REALTY CORPORATION              | TERRENO REALTY CORP REIT               | CUSIP: 88146M101<br>LEI: N/A                  | Long             | EC               |  | US        |     36981 | NS      | $2083139.73   | 1.40%             |  |  |  | No            |                  1 | On Loan: No      |
| AMERICOLD REALTY TRUST, INC.            | AMERICOLD REALTY TRUST INC REIT        | CUSIP: 03064D108<br>LEI: 894500O3S3W62PQPO460 | Long             | EC               |  | US        |     92522 | NS      | $1789375.48   | 1.20%             |  |  |  | No            |                  1 | On Loan: No      |
| EXTRA SPACE STORAGE INC.                | EXTRA SPACE STORAGE INC REIT           | CUSIP: 30225T102<br>LEI: N/A                  | Long             | EC               |  | US        |     16685 | NS      | $2444686.20   | 1.64%             |  |  |  | No            |                  1 | On Loan: No      |
| OMEGA HEALTHCARE INVESTORS, INC.        | OMEGA HEALTHCARE INVESTORS REIT        | CUSIP: 681936100<br>LEI: 549300OJ7ENK42CZ8E73 | Long             | EC               |  | US        |    115395 | NS      | $4506174.75   | 3.03%             |  |  |  | No            |                  1 | On Loan: No      |
| SBA COMMUNICATIONS CORPORATION          | SBA COMMUNICATIONS CORP REIT           | CUSIP: 78410G104<br>LEI: 5299001HX8ZN8Y8QIT49 | Long             | EC               |  | US        |     12725 | NS      | $3097265.00   | 2.08%             |  |  |  | No            |                  1 | On Loan: No      |
| PROLOGIS, INC.                          | PROLOGIS INC REIT                      | CUSIP: 74340W103<br>LEI: 529900DFH19P073LZ636 | Long             | EC               |  | US        |    113321 | NS      | $11581406.20  | 7.78%             |  |  |  | No            |                  1 | On Loan: No      |
| UDR, INC.                               | UDR INC REIT                           | CUSIP: 902653104<br>LEI: P3CH2EG5X6Z1XWU1OO74 | Long             | EC               |  | US        |     40638 | NS      | $1701919.44   | 1.14%             |  |  |  | No            |                  1 | On Loan: No      |
| EQUITY LIFESTYLE PROPERTIES, INC.       | EQUITY LIFESTYLE PROPERTIES REIT       | CUSIP: 29472R108<br>LEI: 529900PEQG66LENB6798 | Long             | EC               |  | US        |     55535 | NS      | $3597557.30   | 2.42%             |  |  |  | No            |                  1 | On Loan: No      |
| BXP, INC.                               | BXP INC REIT                           | CUSIP: 101121101<br>LEI: 549300OF70FSEUQBT254 | Long             | EC               |  | US        |     35126 | NS      | $2238579.98   | 1.50%             |  |  |  | No            |                  1 | On Loan: No      |
| INVITATION HOMES INC.                   | INVITATION HOMES INC REIT              | CUSIP: 46187W107<br>LEI: 984500FE452E665C9F85 | Long             | EC               |  | US        |     70266 | NS      | $2402394.54   | 1.61%             |  |  |  | No            |                  1 | On Loan: No      |
| DIGITAL REALTY TRUST, INC.              | DIGITAL REALTY TRUST INC REIT          | CUSIP: 253868103<br>LEI: 549300HKCZ31D08NEI41 | Long             | EC               |  | US        |     36552 | NS      | $5868058.08   | 3.94%             |  |  |  | No            |                  1 | On Loan: No      |

### Signature

**Date Signed:** 2025-04-30

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

**Signature:** Andrew Metzger

**Name of Signer:** Andrew Metzger

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