# EDGAR Filing Document

**Accession Number:** 0001593547
**File Stem:** 0002048251-25-002955
**Filing Date:** 2025-11
**Character Count:** 15055
**Document Hash:** 4aa16981c72c521c3149f5e797c7fafb
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0002048251-25-002955.hdr.sgml**: 20251128

**ACCESSION NUMBER**: 0002048251-25-002955

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 1

**CONFORMED PERIOD OF REPORT**: 20250930

**FILED AS OF DATE**: 20251128

**DATE AS OF CHANGE**: 20251128

**PERIOD START**: 20250930

**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:** 251534110

**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

### BROWN ADVISORY SUSTAINABLE GROWTH ETF (Series ID: S000092068)

| Class ID   | Class Name                            | Ticker Symbol   |
|:---|:---|:---|
| C000259983 | BROWN ADVISORY SUSTAINABLE GROWTH ETF | BASG            |

## 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:** Brown Advisory Sustainable Growth ETF

- **b. EDGAR series identifier (if any):** S000092068

- **c. LEI of Series:** 529900RQR0KCFROO4W40

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

- **a. Date of fiscal year-end:** 2025-09-30

- **b. Date as of which information is reported:** 2025-09-30

**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:** $546450010.76

**Total Liabilities:** $348586.75

**Net Assets:** $546101424.01

**Cash Not Reported:** $10802200.74

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000259983 | 1.69%                | -2.36%               | 1.79%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $8925235.86              | $144334.79                                 |
| Month 2  | $4672122.60              | $-17549317.24                              |
| Month 3  | $5967508.77              | $3205508.44                                |

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| THE PROGRESSIVE CORPORATION                  | PROGRESSIVE CORP COMMON STOCK                  | CUSIP: 743315103<br>LEI: 529900TACNVLY9DCR586 | Long             | EC               |  | US        |     52314 | NS      | $12918942.30  | 2.37%             |  |  |  | No            |                  1 | On Loan: No      |
| THE CHARLES SCHWAB CORPORATION               | SCHWAB (CHARLES) CORP COMMON STOCK             | CUSIP: 808513105<br>LEI: 549300VSGCJ7E698NM85 | Long             | EC               |  | US        |    160508 | NS      | $15323698.76  | 2.81%             |  |  |  | No            |                  1 | On Loan: No      |
| CHIPOTLE MEXICAN GRILL, INC.                 | CHIPOTLE MEXICAN GRILL INC COMMON STOCK        | CUSIP: 169656105<br>LEI: N/A                  | Long             | EC               |  | US        |    261354 | NS      | $10242463.26  | 1.88%             |  |  |  | No            |                  1 | On Loan: No      |
| VERISK ANALYTICS, INC.                       | VERISK ANALYTICS INC COMMON STOCK              | CUSIP: 92345Y106<br>LEI: 549300I1YSWNIRKBWP67 | Long             | EC               |  | US        |     41927 | NS      | $10545059.77  | 1.93%             |  |  |  | No            |                  1 | On Loan: No      |
| MONOLITHIC POWER SYSTEMS, INC.               | MONOLITHIC POWER SYSTEMS INC COMMON STOCK      | CUSIP: 609839105<br>LEI: 529900TB7O85LSZ1XU31 | Long             | EC               |  | US        |     17153 | NS      | $15791737.92  | 2.89%             |  |  |  | No            |                  1 | On Loan: No      |
| AIRBNB, INC.                                 | AIRBNB INC-CLASS A COMMON STOCK                | CUSIP: N/A<br>LEI: 549300HMUDNO0RY56D37       | Long             | EC               |  | US        |     93276 | NS      | $11325571.92  | 2.07%             |  |  |  | No            |                  1 | On Loan: No      |
| MARVELL TECHNOLOGY, INC.                     | MARVELL TECHNOLOGY INC COMMON STOCK            | CUSIP: 573874104<br>LEI: N/A                  | Long             | EC               |  | US        |    206074 | NS      | $17324641.18  | 3.17%             |  |  |  | No            |                  1 | On Loan: No      |
| SERVICENOW, INC.                             | SERVICENOW INC COMMON STOCK                    | CUSIP: 81762P102<br>LEI: 549300HJTQM36M0E1G39 | Long             | EC               |  | US        |     16588 | NS      | $15265604.64  | 2.80%             |  |  |  | No            |                  1 | On Loan: No      |
| DATADOG, INC.                                | DATADOG INC - CLASS A COMMON STOCK             | CUSIP: 23804L103<br>LEI: 549300F6JNO0KRPO1K63 | Long             | EC               |  | US        |     94308 | NS      | $13429459.20  | 2.46%             |  |  |  | No            |                  1 | On Loan: No      |
| KLA CORPORATION                              | KLA CORP COMMON STOCK                          | CUSIP: 482480100<br>LEI: 549300H0BF5JCG96TJ81 | Long             | EC               |  | US        |     10692 | NS      | $11532391.20  | 2.11%             |  |  |  | No            |                  1 | On Loan: No      |
| Taiwan Semiconductor Manufacturing Co., Ltd. | TAIWAN SEMICONDUCTOR-SP ADR DEPOSITARY RECEIPT | CUSIP: 874039100<br>LEI: 549300KB6NK5SBD14S87 | Long             | EC               |  | US        |     63398 | NS      | $17706427.42  | 3.24%             |  |  |  | No            |                  1 | On Loan: No      |
| UBER TECHNOLOGIES, INC.                      | UBER TECHNOLOGIES INC COMMON STOCK             | CUSIP: 90353T100<br>LEI: 549300B2FTG34FILDR98 | Long             | EC               |  | US        |    138310 | NS      | $13550230.70  | 2.48%             |  |  |  | No            |                  1 | On Loan: No      |
| THE TRADE DESK, INC.                         | TRADE DESK INC/THE -CLASS A COMMON STOCK       | CUSIP: 88339J105<br>LEI: 549300GXPD31VT3E0P46 | Long             | EC               |  | US        |    161981 | NS      | $7938688.81   | 1.45%             |  |  |  | No            |                  1 | On Loan: No      |
| SPOTIFY TECHNOLOGY S.A.                      | SPOTIFY TECHNOLOGY SA COMMON STOCK             | CUSIP: L8681T102<br>LEI: 549300B4X0JHWV0DTD60 | Long             | EC               |  | US        |     14474 | NS      | $10102852.00  | 1.85%             |  |  |  | No            |                  1 | On Loan: No      |
| INTUITIVE SURGICAL, INC.                     | INTUITIVE SURGICAL INC COMMON STOCK            | CUSIP: 46120E602<br>LEI: 54930052SRG011710797 | Long             | EC               |  | US        |     25768 | NS      | $11524222.64  | 2.11%             |  |  |  | No            |                  1 | On Loan: No      |
| CARRIER GLOBAL CORPORATION                   | CARRIER GLOBAL CORP COMMON STOCK               | CUSIP: 14448C104<br>LEI: 549300JE3W6CWY2NAN77 | Long             | EC               |  | US        |    199385 | NS      | $11903284.50  | 2.18%             |  |  |  | No            |                  1 | On Loan: No      |
| NVIDIA CORPORATION                           | NVIDIA CORP COMMON STOCK                       | CUSIP: 67066G104<br>LEI: 549300S4KLFTLO7GSQ80 | Long             | EC               |  | US        |    243711 | NS      | $45471598.38  | 8.33%             |  |  |  | No            |                  1 | On Loan: No      |
| AMAZON.COM, INC.                             | AMAZON.COM INC COMMON STOCK                    | CUSIP: N/A<br>LEI: ZXTILKJKG63JELOEG630       | Long             | EC               |  | US        |    179512 | NS      | $39415449.84  | 7.22%             |  |  |  | No            |                  1 | On Loan: No      |
| ARTHUR J. GALLAGHER & CO.                    | ARTHUR J GALLAGHER & CO COMMON STOCK           | CUSIP: 363576109<br>LEI: 54930049QLLMPART6V29 | Long             | EC               |  | US        |     55593 | NS      | $17219375.82  | 3.15%             |  |  |  | No            |                  1 | On Loan: No      |
| WEST PHARMACEUTICAL SERVICES, INC.           | WEST PHARMACEUTICAL SERVICES COMMON STOCK      | CUSIP: 955306105<br>LEI: 5493007NKRGM1RJQ1P16 | Long             | EC               |  | US        |     49248 | NS      | $12919227.84  | 2.37%             |  |  |  | No            |                  1 | On Loan: No      |
| MICROSOFT CORPORATION                        | MICROSOFT CORP COMMON STOCK                    | CUSIP: 594918104<br>LEI: INR2EJN1ERAN0W5ZP974 | Long             | EC               |  | US        |     87004 | NS      | $45063721.80  | 8.25%             |  |  |  | No            |                  1 | On Loan: No      |
| DYNATRACE, INC.                              | DYNATRACE INC COMMON STOCK                     | CUSIP: 268150109<br>LEI: 6488T0Z33CE9L61EX904 | Long             | EC               |  | US        |    170918 | NS      | $8280977.10   | 1.52%             |  |  |  | No            |                  1 | On Loan: No      |
| VERALTO CORPORATION                          | VERALTO CORP COMMON STOCK                      | CUSIP: 92338C103<br>LEI: 635400FJE6GSOJUSNY27 | Long             | EC               |  | US        |    103698 | NS      | $11055243.78  | 2.02%             |  |  |  | No            |                  1 | On Loan: No      |
| ECOLAB INC.                                  | ECOLAB INC COMMON STOCK                        | CUSIP: 278865100<br>LEI: 82DYEISM090VG8LTLS26 | Long             | EC               |  | US        |     35106 | NS      | $9614129.16   | 1.76%             |  |  |  | No            |                  1 | On Loan: No      |
| CADENCE DESIGN SYSTEMS, INC.                 | CADENCE DESIGN SYS INC COMMON STOCK            | CUSIP: 127387108<br>LEI: GCT7RXJOGLXPV0NXZY22 | Long             | EC               |  | US        |     39023 | NS      | $13707218.98  | 2.51%             |  |  |  | No            |                  1 | On Loan: No      |
| EQUIFAX INC.                                 | EQUIFAX INC COMMON STOCK                       | CUSIP: 294429105<br>LEI: 5493004MCF8JDC86VS77 | Long             | EC               |  | US        |     43018 | NS      | $11035407.54  | 2.02%             |  |  |  | No            |                  1 | On Loan: No      |
| DANAHER CORPORATION                          | DANAHER CORP COMMON STOCK                      | CUSIP: 235851102<br>LEI: S4BKK9OTCEWQ3YHPFM11 | Long             | EC               |  | US        |     62931 | NS      | $12476700.06  | 2.28%             |  |  |  | No            |                  1 | On Loan: No      |
| GENERAL ELECTRIC COMPANY                     | GE AEROSPACE COMMON STOCK                      | CUSIP: 369604301<br>LEI: 3C7474T6CDKPR9K6YT90 | Long             | EC               |  | US        |     40939 | NS      | $12315269.98  | 2.26%             |  |  |  | No            |                  1 | On Loan: No      |
| VISA INC.                                    | VISA INC-CLASS A SHARES COMMON STOCK           | CUSIP: 92826C839<br>LEI: 549300JZ4OKEHW3DPJ59 | Long             | EC               |  | US        |     61317 | NS      | $20932397.46  | 3.83%             |  |  |  | No            |                  1 | On Loan: No      |
| SNOWFLAKE INC.                               | SNOWFLAKE INC COMMON STOCK                     | CUSIP: 833445109<br>LEI: 254900CJNSY1K7T53Z16 | Long             | EC               |  | US        |     38805 | NS      | $8752467.75   | 1.60%             |  |  |  | No            |                  1 | On Loan: No      |
| INTUIT INC.                                  | INTUIT INC COMMON STOCK                        | CUSIP: 461202103<br>LEI: VI90HBPH7XSFMB9E4M29 | Long             | EC               |  | US        |     31145 | NS      | $21269231.95  | 3.89%             |  |  |  | No            |                  1 | On Loan: No      |
| KKR & CO. INC.                               | KKR & CO INC COMMON STOCK                      | CUSIP: 48251W104<br>LEI: 54930013V5I303TF9571 | Long             | EC               |  | US        |    127447 | NS      | $16561737.65  | 3.03%             |  |  |  | No            |                  1 | On Loan: No      |
| SHOPIFY INC.                                 | SHOPIFY INC - CLASS A COMMON STOCK             | CUSIP: 82509L107<br>LEI: 549300HGQ43STJLLP808 | Long             | EC               |  | US        |     50931 | NS      | $7568855.91   | 1.39%             |  |  |  | No            |                  1 | On Loan: No      |
| ARES MANAGEMENT CORPORATION                  | ARES MANAGEMENT CORP - A COMMON STOCK          | CUSIP: 03990B101<br>LEI: 529900JUV61FH7B8VW38 | Long             | EC               |  | US        |     71473 | NS      | $11427817.97  | 2.09%             |  |  |  | No            |                  1 | On Loan: No      |
| Samsara Inc                                  | SAMSARA INC-CL A COMMON STOCK                  | CUSIP: 79589L106<br>LEI: N/A                  | Long             | EC               |  | US        |    107276 | NS      | $3996031.00   | 0.73%             |  |  |  | No            |                  1 | On Loan: No      |

### Signature

**Date Signed:** 2025-09-30

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

**Signature:** Andrew Metzger

**Name of Signer:** Andrew Metzger

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