# EDGAR Filing Document

**Accession Number:** 0001593547
**File Stem:** 0001752724-23-050326
**Filing Date:** 2023-3
**Character Count:** 72104
**Document Hash:** 9d08a165df54318b9ddb96c51d4a9df9
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001752724-23-050326.hdr.sgml**: 20230301

**ACCESSION NUMBER**: 0001752724-23-050326

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 1

**CONFORMED PERIOD OF REPORT**: 20221231

**FILED AS OF DATE**: 20230301

**DATE AS OF CHANGE**: 20230301

**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:** 23694290

**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

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

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

## 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:** FS Chiron Real Asset Fund

- **b. EDGAR series identifier (if any):** S000075443

- **c. LEI of Series:** 549300SILDCVQKTCBW80

**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:** $47120335.38

**Total Liabilities:** $10831102.13

**Net Assets:** $36289233.25

**Cash Not Reported:** $11479574.99

**Currency Risk Metrics (dv01):**

- 

**Credit Spread Risk - Investment Grade (dv01):**

- **3-Month:** -5.44046961 | **1-Year:** -198.49983114 | **5-Year:** -806.86677336 | **10-Year:** -1405.19471279 | **30-Year:** -314.52881677

**Credit Spread Risk - Non-Investment Grade (dv01):**

- **3-Month:** -0.25802014 | **1-Year:** -34.58818703 | **5-Year:** -26.38780051 | **10-Year:** 0.00000000 | **30-Year:** 0.00000000

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000234543 | -1.94%               | 3.73%                | 3.08%                |
| Class ID C000234544 | -6.77%               | -1.51%               | -2.82%               |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $14791.69                | $-662774.82                                |
| Month 2  | $-201772.79              | $1256279.28                                |
| Month 3  | $-443568.92              | $1415485.87                                |

**Designated Index Information**

- **Index Name:** MSCI_ACWI.R_USD

- **Index Identifier:** MSCI_ACWI.R_USD

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| China Everbright Limited                                         | CHINA EVERBRIGHT LTD COMMON STOCK                                       | CUSIP: N/A<br>LEI: 254900EZ9RZF6UMLY516       | Long             | EC               |  | HK        |     10000 | NS      | $7443.52      | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| GALAXY PIPELINE ASSETS BIDCO LIMITED                             | GALAXY PIPELINE ASSETS BIDCO LTD 144A 2.940000% 09/30/2040              | CUSIP: 36321PAE0<br>LEI: 549300L82YB0C6JQIC26 | Long             | DBT              | NUSS              | AE        |    193306 | PA      | $155204.90    | 0.43%             | 2040-09-30      | Fixed         | 2.94%                 | Yes           |                  2 | On Loan: No      |
| Goldman Sachs & Co. LLC                                          | GS Japan Multifactor                                                    | CUSIP: N/A<br>LEI: FOR8UP27PHTHYVLBNG30       | N/A              | DE               |  | US        |      1621 | NC      | $9037.72      | 0.02%             |  |  |  | No            |                  2 | On Loan: No      |
| BROADCOM INC.                                                    | BROADCOM INC COMMON STOCK                                               | CUSIP: 11135F101<br>LEI: 549300WV6GIDOZJTV909 | Long             | EC               |  | US        |       675 | NS      | $377412.75    | 1.04%             |  |  |  | No            |                  1 | On Loan: No      |
| CGN Power Co., Ltd.                                              | CGN POWER CO LTD-H COMMON STOCK                                         | CUSIP: N/A<br>LEI: 529900D2UINCGWQYBK45       | Long             | EC               |  | CN        |     32000 | NS      | $7625.44      | 0.02%             |  |  |  | Yes           |                  1 | On Loan: No      |
| HSBC HOLDINGS PLC                                                | HSBC HOLDINGS PLC 3.973000% 05/22/2030                                  | CUSIP: 404280CC1<br>LEI: MLU0ZO3ML4LN2LL2TL39 | Long             | DBT              | CORP              | GB        |    200000 | PA      | $175056.82    | 0.48%             | 2030-05-22      | Fixed         | 3.97%                 | No            |                  2 | On Loan: No      |
| Goldman Sachs & Co. LLC                                          | GS Japan Multifactor                                                    | CUSIP: N/A<br>LEI: FOR8UP27PHTHYVLBNG30       | N/A              | DE               |  | US        |       814 | NC      | $4824.17      | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| PLAINS ALL AMERICAN PIPELINE, L.P.                               | PLAINS ALL AMERICAN PIPELINE LP / PAA FINANCE CORP 6.650000% 01/15/2037 | CUSIP: 72650RAR3<br>LEI: 5521FA2ITF25TVH63740 | Long             | DBT              | CORP              | US        |    200000 | PA      | $196769.36    | 0.54%             | 2037-01-15      | Fixed         | 6.65%                 | No            |                  2 | On Loan: No      |
| BROADCOM INC.                                                    | BROADCOM INC 4.300000% 11/15/2032                                       | CUSIP: 11135FAS0<br>LEI: 549300WV6GIDOZJTV909 | Long             | DBT              | CORP              | US        |    420000 | PA      | $370163.08    | 1.02%             | 2032-11-15      | Fixed         | 4.30%                 | No            |                  2 | On Loan: No      |
| Shanghai Pharmaceuticals Holding Co., Ltd.                       | SHANGHAI PHARMACEUTICALS-H COMMON STOCK                                 | CUSIP: N/A<br>LEI: 30030029J1KKCBY19820       | Long             | EC               |  | CN        |      4000 | NS      | $6651.76      | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| Altria Group, Inc.                                               | ALTRIA GROUP INC COMMON STOCK                                           | CUSIP: 02209S103<br>LEI: XSGZFLO9YTNO9VCQV219 | Long             | EC               |  | US        |      3703 | NS      | $169264.13    | 0.47%             |  |  |  | No            |                  1 | On Loan: No      |
| KELLOGG COMPANY                                                  | KELLOGG CO COMMON STOCK                                                 | CUSIP: 487836108<br>LEI: LONOZNOJYIBXOHXWDB86 | Long             | EC               |  | US        |      1117 | NS      | $79575.08     | 0.22%             |  |  |  | No            |                  1 | On Loan: No      |
| Petroleos Mexicanos                                              | PETROLEOS MEXICANOS 6.700000% 02/16/2032                                | CUSIP: 71643VAB1<br>LEI: 549300CAZKPF4HKMPX17 | Long             | DBT              | NUSS              | MX        |    200000 | PA      | $157049.40    | 0.43%             | 2032-02-16      | Fixed         | 6.70%                 | No            |                  2 | On Loan: No      |
| GILEAD SCIENCES, INC.                                            | GILEAD SCIENCES INC COMMON STOCK                                        | CUSIP: 375558103<br>LEI: 549300WTZWR07K8MNV44 | Long             | EC               |  | US        |       415 | NS      | $35627.75     | 0.10%             |  |  |  | No            |                  1 | On Loan: No      |
| Post Holdings, Inc.                                              | POST HOLDINGS INC COMMON STOCK                                          | CUSIP: 737446104<br>LEI: JM1I5YUAURL6DC8N1468 | Long             | EC               |  | US        |       935 | NS      | $84393.10     | 0.23%             |  |  |  | No            |                  1 | On Loan: No      |
| China Datang Corporation Renewable Power Co., Limited            | CHINA DATANG CORP RENEWABL-H COMMON STOCK                               | CUSIP: N/A<br>LEI: 52990099S0ALQQ25XM62       | Long             | EC               |  | CN        |     27000 | NS      | $7990.57      | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| JABIL INC.                                                       | JABIL INC COMMON STOCK                                                  | CUSIP: 466313103<br>LEI: 5493000CGCQY2OQU7669 | Long             | EC               |  | US        |      6313 | NS      | $430546.60    | 1.19%             |  |  |  | No            |                  1 | On Loan: No      |
| CITIC Limited                                                    | CITIC LTD COMMON STOCK                                                  | CUSIP: N/A<br>LEI: 2549006I3Q3M98KHOT11       | Long             | EC               |  | CN        |      8000 | NS      | $8445.38      | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| KINGBOARD HOLDINGS LIMITED                                       | KINGBOARD HOLDINGS LTD COMMON STOCK                                     | CUSIP: N/A<br>LEI: 529900G89MY26MMSDR76       | Long             | EC               |  | HK        |      2000 | NS      | $6367.35      | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| MICRON TECHNOLOGY, INC.                                          | MICRON TECHNOLOGY INC 2.703000% 04/15/2032                              | CUSIP: 595112BS1<br>LEI: B3DXGBC8GAIYWI2Z0172 | Long             | DBT              | CORP              | US        |    260000 | PA      | $194408.73    | 0.54%             | 2032-04-15      | Fixed         | 2.70%                 | No            |                  2 | On Loan: No      |
| LENNAR CORPORATION                                               | LENNAR CORP-A COMMON STOCK                                              | CUSIP: 526057104<br>LEI: 529900G61XVRLX5TJX09 | Long             | EC               |  | US        |       874 | NS      | $79097.00     | 0.22%             |  |  |  | No            |                  1 | On Loan: No      |
| N/A                                                              | GOLDMAN SACHS COLLATERAL BALANCE FS FUNDS                               | CUSIP: N/A<br>LEI: N/A                        | Long             | STIV             |  | US        |     20790 | PA      | $20790.00     | 0.06%             |  |  |  | No            |                  2 | On Loan: No      |
| PALO ALTO NETWORKS, INC.                                         | PALO ALTO NETWORKS INC 0.750000% 07/01/2023                             | CUSIP: 697435AD7<br>LEI: 549300QXR2YVZV231H43 | Long             | DBT              | CORP              | US        |     25000 | PA      | $39500.00     | 0.11%             | 2023-07-01      | Fixed         | 0.75%                 | No            |                  2 | On Loan: No      |
| JAPAN TOBACCO INC.                                               | JAPAN TOBACCO INC COMMON STOCK                                          | CUSIP: N/A<br>LEI: 353800Z0ENYBQO0XRJ31       | Long             | EC               |  | JP        |      5088 | NS      | $103163.43    | 0.28%             |  |  |  | No            |                  1 | On Loan: No      |
| CK INFRASTRUCTURE HOLDINGS LIMITED                               | CK INFRASTRUCTURE HOLDINGS L COMMON STOCK                               | CUSIP: N/A<br>LEI: 5299005U11RQ1C27MR12       | Long             | EC               |  | HK        |      1000 | NS      | $5233.52      | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| JAZZ PHARMACEUTICALS PUBLIC LIMITED COMPANY                      | JAZZ PHARMACEUTICALS PLC COMMON STOCK                                   | CUSIP: G50871105<br>LEI: 635400GAUMJCLEZRRV50 | Long             | EC               |  | US        |       230 | NS      | $36641.30     | 0.10%             |  |  |  | No            |                  1 | On Loan: No      |
| Philip Morris International Inc.                                 | PHILIP MORRIS INTERNATIONAL INC 3.125000% 06/03/2033                    | CUSIP: 718172BC2<br>LEI: HL3H1H2BGXWVG3BSWR90 | Long             | DBT              | NUSS              | US        |    230000 | PA      | $206078.46    | 0.57%             | 2033-06-03      | Fixed         | 3.12%                 | No            |                  2 | On Loan: No      |
| LyondellBasell Industries N.V.                                   | LYONDELLBASELL INDU-CL A COMMON STOCK                                   | CUSIP: N53745100<br>LEI: BN6WCCZ8OVP3ITUUVN49 | Long             | EC               |  | US        |       820 | NS      | $68084.60     | 0.19%             |  |  |  | No            |                  1 | On Loan: No      |
| LOEWS CORPORATION                                                | LOEWS CORP COMMON STOCK                                                 | CUSIP: 540424108<br>LEI: R8V1FN4M5ITGZOG7BS19 | Long             | EC               |  | US        |      2324 | NS      | $135558.92    | 0.37%             |  |  |  | No            |                  1 | On Loan: No      |
| Goldman Sachs & Co. LLC                                          | GS Japan Multifactor                                                    | CUSIP: N/A<br>LEI: FOR8UP27PHTHYVLBNG30       | N/A              | DE               |  | US        |       839 | NC      | $14732.07     | 0.04%             |  |  |  | No            |                  2 | On Loan: No      |
| Repsol S.A.                                                      | REPSOL SA COMMON STOCK                                                  | CUSIP: N/A<br>LEI: BSYCX13Y0NOTV14V9N85       | Long             | EC               |  | ES        |      5873 | NS      | $93357.94     | 0.26%             |  |  |  | No            |                  1 | On Loan: No      |
| PHILLIPS 66                                                      | PHILLIPS 66 COMMON STOCK                                                | CUSIP: 718546104<br>LEI: 5493005JBO5YSIGK1814 | Long             | EC               |  | US        |       692 | NS      | $72023.36     | 0.20%             |  |  |  | No            |                  1 | On Loan: No      |
| SINOPEC ENGINEERING (GROUP) CO., LTD.                            | SINOPEC ENGINEERING GROUP-H COMMON STOCK                                | CUSIP: N/A<br>LEI: 529900MZVFFC7D57VV51       | Long             | EC               |  | CN        |     17000 | NS      | $7470.42      | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| UNI-PRESIDENT CHINA HOLDINGS LTD.                                | UNI-PRESIDENT CHINA HOLDINGS COMMON STOCK                               | CUSIP: N/A<br>LEI: 529900JUA05094TOKA73       | Long             | EC               |  | CN        |      9000 | NS      | $9005.25      | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| FOSUN INTERNATIONAL LIMITED                                      | FOSUN INTERNATIONAL LTD COMMON STOCK                                    | CUSIP: N/A<br>LEI: 213800Z99WQEXDF82F09       | Long             | EC               |  | CN        |      9000 | NS      | $7333.34      | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| CHINA RESOURCES LAND LIMITED                                     | CHINA RESOURCES LAND LTD COMMON STOCK                                   | CUSIP: N/A<br>LEI: 5299001HL0TU7X15HK51       | Long             | EC               |  | HK        |      2000 | NS      | $9160.27      | 0.03%             |  |  |  | No            |                  1 | On Loan: No      |
| TOLL BROTHERS, INC.                                              | TOLL BROTHERS INC COMMON STOCK                                          | CUSIP: 889478103<br>LEI: 529900JB6IS9MSZGVR44 | Long             | EC               |  | US        |      1548 | NS      | $77276.16     | 0.21%             |  |  |  | No            |                  1 | On Loan: No      |
| SK TELECOM CO.,LTD                                               | SK TELECOM COMMON STOCK                                                 | CUSIP: N/A<br>LEI: 9884003WEA1PHW006037       | Long             | EC               |  | KR        |      1363 | NS      | $51092.29     | 0.14%             |  |  |  | No            |                  1 | On Loan: No      |
| CITIGROUP INC.                                                   | CITIGROUP INC COMMON STOCK                                              | CUSIP: 172967424<br>LEI: 6SHGI4ZSSLCXXQSBB395 | Long             | EC               |  | US        |      3682 | NS      | $166536.86    | 0.46%             |  |  |  | No            |                  1 | On Loan: No      |
| CK HUTCHISON HOLDINGS LIMITED                                    | CK HUTCHISON HOLDINGS LTD COMMON STOCK                                  | CUSIP: N/A<br>LEI: 254900Z8HM1VEPOQ2G79       | Long             | EC               |  | HK        |      1000 | NS      | $6002.22      | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| ENERGY TRANSFER LP                                               | ENERGY TRANSFER LP PARTNERSHIP SHARES                                   | CUSIP: 29273V100<br>LEI: MTLVN9N7JE8MIBIJ1H73 | Long             | EC               |  | US        |      5009 | NS      | $59456.83     | 0.16%             |  |  |  | No            |                  1 | On Loan: No      |
| Goldman Sachs & Co. LLC                                          | Chiron EM Basket                                                        | CUSIP: TSCHEMBA3<br>LEI: FOR8UP27PHTHYVLBNG30 | N/A              | DE               |  | US        |      2563 | NC      | $-1271.76     | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| FAIR ISAAC CORPORATION                                           | FAIR ISAAC CORP COMMON STOCK                                            | CUSIP: 303250104<br>LEI: RI6HET5SJUEY30V1PS26 | Long             | EC               |  | US        |       303 | NS      | $181369.74    | 0.50%             |  |  |  | No            |                  1 | On Loan: No      |
| Goldman Sachs & Co. LLC                                          | GS Japan Multifactor                                                    | CUSIP: N/A<br>LEI: FOR8UP27PHTHYVLBNG30       | N/A              | DE               |  | US        |      1168 | NC      | $18909.10     | 0.05%             |  |  |  | No            |                  2 | On Loan: No      |
| CATCHER TECHNOLOGY CO., LTD.                                     | CATCHER TECHNOLOGY CO LTD COMMON STOCK                                  | CUSIP: N/A<br>LEI: 5299006PRSCU66N5JF55       | Long             | EC               |  | TW        |      5108 | NS      | $28086.48     | 0.08%             |  |  |  | No            |                  1 | On Loan: No      |
| United States of America                                         | U.S. TREASURY INFLATION-PROTECTED SECURITIES 0.125%  01/15/2030         | CUSIP: 912828Z37<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | USGA              | US        |   5275000 | PA      | $5487454.28   | 15.12%            | 2030-01-15      | Fixed         | 0.12%                 | No            |                  2 | On Loan: No      |
| GILEAD SCIENCES, INC.                                            | GILEAD SCIENCES INC 2.500000% 09/01/2023                                | CUSIP: 375558BL6<br>LEI: 549300WTZWR07K8MNV44 | Long             | DBT              | CORP              | US        |     50000 | PA      | $49172.42     | 0.14%             | 2023-09-01      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| ABBVIE INC.                                                      | ABBVIE INC COMMON STOCK                                                 | CUSIP: 00287Y109<br>LEI: FR5LCKFTG8054YNNRU85 | Long             | EC               |  | US        |       223 | NS      | $36039.03     | 0.10%             |  |  |  | No            |                  1 | On Loan: No      |
| CONOCOPHILLIPS                                                   | CONOCOPHILLIPS COMMON STOCK                                             | CUSIP: 20825C104<br>LEI: WPTL2Z3FIYTHSP5V2253 | Long             | EC               |  | US        |       482 | NS      | $56876.00     | 0.16%             |  |  |  | No            |                  1 | On Loan: No      |
| Nordea Bank Abp                                                  | NORDEA BANK ABP 144A 4.750000% 09/22/2025                               | CUSIP: 65558RAC3<br>LEI: 529900ODI3047E2LIV03 | Long             | DBT              | NUSS              | FI        |    200000 | PA      | $198736.83    | 0.55%             | 2025-09-22      | Fixed         | 4.75%                 | Yes           |                  2 | On Loan: No      |
| EXXON MOBIL CORPORATION                                          | EXXON MOBIL CORP COMMON STOCK                                           | CUSIP: 30231G102<br>LEI: J3WHBG0MTS7O8ZVMDC91 | Long             | EC               |  | US        |       679 | NS      | $74893.70     | 0.21%             |  |  |  | No            |                  1 | On Loan: No      |
| SES SA                                                           | SES DEPOSITARY RECEIPT                                                  | CUSIP: N/A<br>LEI: 5493008JPA4HYMH1HX51       | Long             | EC               |  | LU        |     20160 | NS      | $131423.37    | 0.36%             |  |  |  | No            |                  1 | On Loan: No      |
| MORGAN STANLEY                                                   | MORGAN STANLEY COMMON STOCK                                             | CUSIP: 617446448<br>LEI: IGJSJL3JD5P30I6NJZ34 | Long             | EC               |  | US        |      4099 | NS      | $348496.98    | 0.96%             |  |  |  | No            |                  1 | On Loan: No      |
| China Railway Group Limited                                      | CHINA RAILWAY GROUP LTD-H COMMON STOCK                                  | CUSIP: N/A<br>LEI: 529900TFRLG8UDJ7QA89       | Long             | EC               |  | CN        |     13000 | NS      | $6861.87      | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| HOLOGIC, INC.                                                    | HOLOGIC INC COMMON STOCK                                                | CUSIP: 436440101<br>LEI: 549300DYP6F5ZJL0LB74 | Long             | EC               |  | US        |      4989 | NS      | $373227.09    | 1.03%             |  |  |  | No            |                  1 | On Loan: No      |
| HON HAI PRECISION INDUSTRY CO., LTD.                             | HON HAI PRECISION INDUSTRY COMMON STOCK                                 | CUSIP: N/A<br>LEI: 30030004CM3GSZXX7O56       | Long             | EC               |  | TW        |     26620 | NS      | $86523.34     | 0.24%             |  |  |  | No            |                  1 | On Loan: No      |
| CRRC Corporation Limited                                         | CRRC CORP LTD - H COMMON STOCK                                          | CUSIP: N/A<br>LEI: 30030099HATQH2XC0B72       | Long             | EC               |  | CN        |     18000 | NS      | $7264.16      | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| NATIONAL AUSTRALIA BANK LIMITED                                  | NATIONAL AUSTRALIA BANK LTD COMMON STOCK                                | CUSIP: N/A<br>LEI: F8SB4JFBSYQFRQEH3Z21       | Long             | EC               |  | AU        |     11248 | NS      | $230205.88    | 0.63%             |  |  |  | No            |                  1 | On Loan: No      |
| BRISTOL-MYERS SQUIBB COMPANY                                     | BRISTOL-MYERS SQUIBB CO COMMON STOCK                                    | CUSIP: 110122108<br>LEI: HLYYNH7UQUORYSJQCN42 | Long             | EC               |  | US        |      4824 | NS      | $347086.80    | 0.96%             |  |  |  | No            |                  1 | On Loan: No      |
| CARDINAL HEALTH, INC.                                            | CARDINAL HEALTH INC COMMON STOCK                                        | CUSIP: 14149Y108<br>LEI: CCU46N3GJMF4OK4N7U60 | Long             | EC               |  | US        |      3311 | NS      | $254516.57    | 0.70%             |  |  |  | No            |                  1 | On Loan: No      |
| Zhengzhou Coal Mining Machinery Group Co., Ltd.                  | ZHENGZHOU COAL MINING MACH-H COMMON STOCK                               | CUSIP: N/A<br>LEI: 300300PYAQHLZLU5N973       | Long             | EC               |  | CN        |      7000 | NS      | $6152.11      | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| PT Indofood Sukses Makmur Tbk                                    | INDOFOOD SUKSES MAKMUR TBK P COMMON STOCK                               | CUSIP: N/A<br>LEI: 529900E61EV2GTYWZ485       | Long             | EC               |  | ID        |    185310 | NS      | $80052.02     | 0.22%             |  |  |  | No            |                  1 | On Loan: No      |
| CK ASSET HOLDINGS LIMITED                                        | CK ASSET HOLDINGS LTD COMMON STOCK                                      | CUSIP: N/A<br>LEI: 5299006GJZSGP78B8S35       | Long             | EC               |  | HK        |      1000 | NS      | $6155.96      | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| CHINA RESOURCES PHARMACEUTICAL GROUP LIMITED                     | CHINA RESOURCES PHARMACEUTIC COMMON STOCK                               | CUSIP: N/A<br>LEI: 3003004H1KDKMJ8JD874       | Long             | EC               |  | CN        |      9000 | NS      | $7287.22      | 0.02%             |  |  |  | Yes           |                  1 | On Loan: No      |
| DONGFENG MOTOR GROUP COMPANY LIMITED                             | DONGFENG MOTOR GRP CO LTD-H COMMON STOCK                                | CUSIP: N/A<br>LEI: 3003002JNYOYPX54GE50       | Long             | EC               |  | CN        |     13000 | NS      | $7461.45      | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| SK hynix Inc.                                                    | SK HYNIX INC COMMON STOCK                                               | CUSIP: N/A<br>LEI: 988400XAIK6XISWQV045       | Long             | EC               |  | KR        |      2548 | NS      | $151126.93    | 0.42%             |  |  |  | No            |                  1 | On Loan: No      |
| CACI INTERNATIONAL INC.                                          | CACI INTERNATIONAL INC -CL A COMMON STOCK                               | CUSIP: 127190304<br>LEI: SYRPI2D1O9WRTS2WX210 | Long             | EC               |  | US        |       878 | NS      | $263918.02    | 0.73%             |  |  |  | No            |                  1 | On Loan: No      |
| PT Perusahaan Gas Negara Tbk                                     | PERUSAHAAN GAS NEGARA TBK PT COMMON STOCK                               | CUSIP: N/A<br>LEI: 549300OX1VFDX7ZPN240       | Long             | EC               |  | ID        |    757752 | NS      | $85668.45     | 0.24%             |  |  |  | No            |                  1 | On Loan: No      |
| HKT Trust and HKT Limited                                        | HKT TRUST AND HKT LTD-SS UNIT                                           | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               |  | HK        |      6000 | NS      | $7356.40      | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| Telefonica S.A.                                                  | TELEFONICA SA COMMON STOCK                                              | CUSIP: 879382109<br>LEI: 549300EEJH4FEPDBBR25 | Long             | EC               |  | ES        |     32833 | NS      | $118969.06    | 0.33%             |  |  |  | No            |                  1 | On Loan: No      |
| CADENCE DESIGN SYSTEMS, INC.                                     | CADENCE DESIGN SYSTEMS INC 4.375000% 10/15/2024                         | CUSIP: 127387AL2<br>LEI: GCT7RXJOGLXPV0NXZY22 | Long             | DBT              | CORP              | US        |     50000 | PA      | $49593.01     | 0.14%             | 2024-10-15      | Fixed         | 4.38%                 | No            |                  2 | On Loan: No      |
| Goldman Sachs & Co. LLC                                          | GS Japan Multifactor                                                    | CUSIP: N/A<br>LEI: FOR8UP27PHTHYVLBNG30       | N/A              | DE               |  | US        |      1673 | NC      | $28610.31     | 0.08%             |  |  |  | No            |                  2 | On Loan: No      |
| United States of America                                         | TREASURY BILL 0.000000% 04/06/2023                                      | CUSIP: 912796YN3<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |    830000 | PA      | $820994.50    | 2.26%             | 2023-04-06      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| TAISEI CORPORATION                                               | TAISEI CORP COMMON STOCK                                                | CUSIP: N/A<br>LEI: 529900TF7XJKIOWMLQ79       | Long             | EC               |  | JP        |      2631 | NS      | $85200.78     | 0.23%             |  |  |  | No            |                  1 | On Loan: No      |
| WESTLAKE CORPORATION                                             | Westlake Corporation COMMON STOCK                                       | CUSIP: 960413102<br>LEI: GOXNEVUM0LL78B1OS344 | Long             | EC               |  | US        |       682 | NS      | $69932.28     | 0.19%             |  |  |  | No            |                  1 | On Loan: No      |
| SCHLUMBERGER FINANCE CANADA LTD                                  | SCHLUMBERGER FINANCE CANADA LTD 1.400000% 09/17/2025                    | CUSIP: 80685XAC5<br>LEI: 549300P4EXZFF0LRNF59 | Long             | DBT              | NUSS              | US        |     70000 | PA      | $64114.12     | 0.18%             | 2025-09-17      | Fixed         | 1.40%                 | No            |                  2 | On Loan: No      |
| QUALCOMM INCORPORATED                                            | QUALCOMM INC COMMON STOCK                                               | CUSIP: 747525103<br>LEI: H1J8DDZKZP6H7RWC0H53 | Long             | EC               |  | US        |      2847 | NS      | $312999.18    | 0.86%             |  |  |  | No            |                  1 | On Loan: No      |
| FOX CORPORATION                                                  | FOX CORP - CLASS A COMMON STOCK                                         | CUSIP: 35137L105<br>LEI: 549300DDU6FDRBIELS05 | Long             | EC               |  | US        |      3767 | NS      | $114403.79    | 0.32%             |  |  |  | No            |                  1 | On Loan: No      |
| Goldman Sachs & Co. LLC                                          | Chiron EM Basket                                                        | CUSIP: TSCHEMBA4<br>LEI: FOR8UP27PHTHYVLBNG30 | N/A              | DE               |  | US        |       640 | NC      | $-149.63      | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| NEXSTAR ESCROW, INC.                                             | NEXSTAR MEDIA INC 144A 5.625000% 07/15/2027                             | CUSIP: 65343HAA9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     70000 | PA      | $64215.03     | 0.18%             | 2027-07-15      | Fixed         | 5.62%                 | Yes           |                  2 | On Loan: No      |
| HENGAN INTERNATIONAL GROUP COMPANY LIMITED                       | HENGAN INTL GROUP CO LTD COMMON STOCK                                   | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               |  | CN        |      2000 | NS      | $10620.78     | 0.03%             |  |  |  | No            |                  1 | On Loan: No      |
| DONGYUE GROUP LIMITED                                            | DONGYUE GROUP COMMON STOCK                                              | CUSIP: N/A<br>LEI: 529900EJNEZTJBHCHW95       | Long             | EC               |  | CN        |      7000 | NS      | $7703.59      | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| Link Real Estate Investment Trust                                | LINK REIT REIT                                                          | CUSIP: N/A<br>LEI: 529900XUE70U36QX5M62       | Long             | EC               |  | HK        |      1000 | NS      | $7341.02      | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| TAKE-TWO INTERACTIVE SOFTWARE, INC.                              | TAKE-TWO INTERACTIVE SOFTWARE INC 3.300000% 03/28/2024                  | CUSIP: 874054AE9<br>LEI: BOMSTHHJK882EWYX3334 | Long             | DBT              | CORP              | US        |     50000 | PA      | $48830.76     | 0.13%             | 2024-03-28      | Fixed         | 3.30%                 | No            |                  2 | On Loan: No      |
| Goldman Sachs & Co. LLC                                          | Chiron EM Basket                                                        | CUSIP: TSCHEMBA2<br>LEI: FOR8UP27PHTHYVLBNG30 | N/A              | DE               |  | US        |       715 | NC      | $626.34       | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Macquarie Bank Ltd.                                              | Bloomberg Commodity Index                                               | CUSIP: TR5461J60<br>LEI: 4ZHCHI4KYZG2WVRT8631 | N/A              | DE               |  | US        |     43695 | NC      | $57524.47     | 0.16%             |  |  |  | No            |                  2 | On Loan: No      |
| China International Marine Containers (Group) Co., Ltd.          | CHINA INTERNATIONAL MARINE-H COMMON STOCK                               | CUSIP: N/A<br>LEI: 300300Q7JK7J0KAIEA51       | Long             | EC               |  | CN        |     10000 | NS      | $7584.44      | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| GLENCORE PLC                                                     | GLENCORE PLC COMMON STOCK                                               | CUSIP: G39420107<br>LEI: 2138002658CPO9NBH955 | Long             | EC               |  | AU        |     23133 | NS      | $154488.48    | 0.43%             |  |  |  | No            |                  1 | On Loan: No      |
| JABIL INC.                                                       | JABIL INC 4.250000% 05/15/2027                                          | CUSIP: 466313AM5<br>LEI: 5493000CGCQY2OQU7669 | Long             | DBT              | CORP              | US        |     70000 | PA      | $66190.29     | 0.18%             | 2027-05-15      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| FUFENG GROUP LIMITED                                             | FUFENG GROUP LTD COMMON STOCK                                           | CUSIP: N/A<br>LEI: 549300OQ91X6COVM4483       | Long             | EC               |  | CN        |     12000 | NS      | $7302.59      | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| China Communications Services Corporation Limited                | CHINA COMMUNICATIONS SERVI-H COMMON STOCK                               | CUSIP: N/A<br>LEI: 529900JCDRVQE6YZKT86       | Long             | EC               |  | CN        |     22000 | NS      | $8032.85      | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| JPMorgan Securities LLC                                          | J.P. Morgan JMABCID3 Index                                              | CUSIP: N/A<br>LEI: ZBUT11V806EZRVTWT807       | N/A              | DE               |  | US        |     16165 | NC      | $-37510.88    | -0.10%            |  |  |  | No            |                  2 | On Loan: No      |
| CAMPBELL SOUP COMPANY                                            | CAMPBELL SOUP CO COMMON STOCK                                           | CUSIP: 134429109<br>LEI: 5493007JDSMX8Z5Z1902 | Long             | EC               |  | US        |      3527 | NS      | $200157.25    | 0.55%             |  |  |  | No            |                  1 | On Loan: No      |
| THE GOLDMAN SACHS GROUP, INC.                                    | GOLDMAN SACHS GROUP INC COMMON STOCK                                    | CUSIP: 38141G104<br>LEI: 784F5XWPLTWKTBV3E584 | Long             | EC               |  | US        |       518 | NS      | $177870.84    | 0.49%             |  |  |  | No            |                  1 | On Loan: No      |
| AMERICAN INTERNATIONAL GROUP, INC.                               | AMERICAN INTERNATIONAL GROUP COMMON STOCK                               | CUSIP: 026874784<br>LEI: ODVCVCQG2BP6VHV36M30 | Long             | EC               |  | US        |      3074 | NS      | $194399.76    | 0.54%             |  |  |  | No            |                  1 | On Loan: No      |
| Sino Land Company Limited                                        | SINO LAND CO COMMON STOCK                                               | CUSIP: N/A<br>LEI: 529900G5P51053HJVZ92       | Long             | EC               |  | HK        |      6000 | NS      | $7502.45      | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| CHINA HONGQIAO GROUP LIMITED                                     | CHINA HONGQIAO GROUP LTD COMMON STOCK                                   | CUSIP: N/A<br>LEI: 3003009Q4IBFSDE24571       | Long             | EC               |  | CN        |      8000 | NS      | $7553.70      | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| PLAINS ALL AMERICAN PIPELINE, L.P.                               | PLAINS ALL AMER PIPELINE LP PARTNERSHIP SHARES                          | CUSIP: 726503105<br>LEI: 5521FA2ITF25TVH63740 | Long             | EC               |  | US        |      5061 | NS      | $59517.36     | 0.16%             |  |  |  | No            |                  1 | On Loan: No      |
| KIA CORPORATION                                                  | KIA CORP COMMON STOCK                                                   | CUSIP: N/A<br>LEI: 988400V8MJK9N7OI5X76       | Long             | EC               |  | KR        |      2563 | NS      | $120194.46    | 0.33%             |  |  |  | No            |                  1 | On Loan: No      |
| Goldman Sachs & Co. LLC                                          | GS Custom EU Long                                                       | CUSIP: N/A<br>LEI: FOR8UP27PHTHYVLBNG30       | N/A              | DE               |  | US        |      3650 | NC      | $-1809.31     | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| N/A                                                              | GOLD 100 OZ FUTR  FEB23 PHYSICAL COMMODITY FUTURE.                      | CUSIP: N/A<br>LEI: N/A                        | N/A              | DCO              |  | US        |         2 | NC      | $365240.00    | 1.01%             |  |  |  | No            |                  1 | On Loan: No      |
| LOCKHEED MARTIN CORPORATION                                      | LOCKHEED MARTIN CORP COMMON STOCK                                       | CUSIP: 539830109<br>LEI: DPRBOZP0K5RM2YE8UU08 | Long             | EC               |  | US        |       582 | NS      | $283137.18    | 0.78%             |  |  |  | No            |                  1 | On Loan: No      |
| PAYCHEX, INC.                                                    | PAYCHEX INC COMMON STOCK                                                | CUSIP: 704326107<br>LEI: 529900K900DW6SUBM174 | Long             | EC               |  | US        |      2904 | NS      | $335586.24    | 0.92%             |  |  |  | No            |                  1 | On Loan: No      |
| SCIENCE APPLICATIONS INTERNATIONAL CORPORATION                   | SCIENCE APPLICATIONS INTE COMMON STOCK                                  | CUSIP: 808625107<br>LEI: 549300LZPNZIXQGZPZ48 | Long             | EC               |  | US        |      3275 | NS      | $363295.75    | 1.00%             |  |  |  | No            |                  1 | On Loan: No      |
| MARATHON PETROLEUM CORPORATION                                   | MARATHON PETROLEUM CORP COMMON STOCK                                    | CUSIP: 56585A102<br>LEI: 3BNYRYQHD39K4LCKQF12 | Long             | EC               |  | US        |       604 | NS      | $70299.56     | 0.19%             |  |  |  | No            |                  1 | On Loan: No      |
| Goldman Sachs & Co. LLC                                          | Chiron EM Basket                                                        | CUSIP: TSCHEMBA1<br>LEI: FOR8UP27PHTHYVLBNG30 | N/A              | DE               |  | US        |      2533 | NC      | $5763.08      | 0.02%             |  |  |  | No            |                  2 | On Loan: No      |
| Amdocs Limited                                                   | AMDOCS LTD COMMON STOCK                                                 | CUSIP: G02602103<br>LEI: 549300HQV672RJ7RQV66 | Long             | EC               |  | US        |      3946 | NS      | $358691.40    | 0.99%             |  |  |  | No            |                  1 | On Loan: No      |
| China BlueChemical Ltd.                                          | CHINA BLUECHEMICAL LTD - H COMMON STOCK                                 | CUSIP: N/A<br>LEI: 529900A9VMPOCJ331Y42       | Long             | EC               |  | CN        |     31000 | NS      | $7347.43      | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| REGENERON PHARMACEUTICALS, INC.                                  | REGENERON PHARMACEUTICALS INC 1.750000% 09/15/2030                      | CUSIP: 75886FAE7<br>LEI: 549300RCBFWIRX3HYQ56 | Long             | DBT              | CORP              | US        |    250000 | PA      | $193091.93    | 0.53%             | 2030-09-15      | Fixed         | 1.75%                 | No            |                  2 | On Loan: No      |
| N/A                                                              | GOLDMAN SACHS COLLATERAL BALANCE FS FUNDS                               | CUSIP: N/A<br>LEI: N/A                        | Long             | STIV             |  | US        |    570000 | PA      | $570000.00    | 1.57%             |  |  |  | No            |                  2 | On Loan: No      |
| Goldman Sachs & Co. LLC                                          | GS Custom EU Long                                                       | CUSIP: N/A<br>LEI: FOR8UP27PHTHYVLBNG30       | N/A              | DE               |  | US        |      3100 | NC      | $1371.13      | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| LOWE'S COMPANIES, INC.                                           | LOWE'S COS INC COMMON STOCK                                             | CUSIP: 548661107<br>LEI: WAFCR4OKGSC504WU3E95 | Long             | EC               |  | US        |       670 | NS      | $133490.80    | 0.37%             |  |  |  | No            |                  1 | On Loan: No      |
| BAE SYSTEMS PLC                                                  | BAE SYSTEMS PLC COMMON STOCK                                            | CUSIP: N/A<br>LEI: 8SVCSVKSGDWMW2QHOH83       | Long             | EC               |  | GB        |     17507 | NS      | $181174.04    | 0.50%             |  |  |  | No            |                  1 | On Loan: No      |
| NEWMONT CORPORATION                                              | NEWMONT CORP COMMON STOCK                                               | CUSIP: 651639106<br>LEI: 549300VSP3RIX7FGDZ51 | Long             | EC               |  | US        |      6193 | NS      | $292309.60    | 0.81%             |  |  |  | No            |                  1 | On Loan: No      |
| Magyarorszag                                                     | HUNGARY GOVERNMENT INTERNATIONAL BOND 144A 2.125000% 09/22/2031         | CUSIP: 445545AM8<br>LEI: 5299003F3UFKGCCMAP43 | Long             | DBT              | NUSS              | HU        |    200000 | PA      | $148132.00    | 0.41%             | 2031-09-22      | Fixed         | 2.12%                 | Yes           |                  2 | On Loan: No      |
| UOL GROUP LIMITED                                                | UOL GROUP LTD COMMON STOCK                                              | CUSIP: N/A<br>LEI: 254900O9PRCWTMR86R25       | Long             | EC               |  | SG        |     50434 | NS      | $253036.05    | 0.70%             |  |  |  | No            |                  1 | On Loan: No      |
| LOUISIANA-PACIFIC CORPORATION                                    | LOUISIANA-PACIFIC CORP COMMON STOCK                                     | CUSIP: 546347105<br>LEI: 549300C7E2UAO5BVRR75 | Long             | EC               |  | US        |      1225 | NS      | $72520.00     | 0.20%             |  |  |  | No            |                  1 | On Loan: No      |
| Metallurgical Corporation of China Ltd.                          | METALLURGICAL CORP OF CHIN-H COMMON STOCK                               | CUSIP: N/A<br>LEI: 3003002HS6H57JTIFW38       | Long             | EC               |  | CN        |     32000 | NS      | $7092.48      | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| HL Mando Corp.                                                   | HL Mando Corporation COMMON STOCK                                       | CUSIP: N/A<br>LEI: 988400P5GM9DGVVOJQ79       | Long             | EC               |  | KR        |      3985 | NS      | $127003.16    | 0.35%             |  |  |  | No            |                  1 | On Loan: No      |
| Goldman Sachs & Co. LLC                                          | GS Japan Multifactor                                                    | CUSIP: N/A<br>LEI: FOR8UP27PHTHYVLBNG30       | N/A              | DE               |  | US        |       325 | NC      | $1919.48      | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| The State of Qatar                                               | QATAR GOVERNMENT INTERNATIONAL BOND 144A 5.103000% 04/23/2048           | CUSIP: 74727PAY7<br>LEI: 52990074F6OJOAXK4P65 | Long             | DBT              | NUSS              | QA        |    200000 | PA      | $200826.40    | 0.55%             | 2048-04-23      | Fixed         | 5.10%                 | Yes           |                  2 | On Loan: No      |
| China Tower Corporation Limited                                  | CHINA TOWER CORP LTD-H COMMON STOCK                                     | CUSIP: N/A<br>LEI: 300300T6BNNP0L7O7H91       | Long             | EC               |  | CN        |     69000 | NS      | $7425.58      | 0.02%             |  |  |  | Yes           |                  1 | On Loan: No      |
| VMWARE, INC.                                                     | VMWARE INC 3.900000% 08/21/2027                                         | CUSIP: 928563AC9<br>LEI: 549300BUDHS3LRWBE814 | Long             | DBT              | CORP              | US        |     70000 | PA      | $65329.61     | 0.18%             | 2027-08-21      | Fixed         | 3.90%                 | No            |                  2 | On Loan: No      |
| PFIZER INC.                                                      | PFIZER INC COMMON STOCK                                                 | CUSIP: 717081103<br>LEI: 765LHXWGK1KXCLTFYQ30 | Long             | EC               |  | US        |       695 | NS      | $35611.80     | 0.10%             |  |  |  | No            |                  1 | On Loan: No      |
| Saudi Arabian Oil Company                                        | SAUDI ARABIAN OIL CO MTN 3.500000% 04/16/2029                           | CUSIP: 80414L2D6<br>LEI: 5586006WD91QHB7J4X50 | Long             | DBT              | NUSS              | SA        |    200000 | PA      | $183452.00    | 0.51%             | 2029-04-16      | Fixed         | 3.50%                 | Yes           |                  2 | On Loan: No      |
| SHANGHAI INDUSTRIAL HOLDINGS LIMITED                             | SHANGHAI INDUSTRIAL HLDG LTD COMMON STOCK                               | CUSIP: N/A<br>LEI: 529900S37EMGYP84J616       | Long             | EC               |  | HK        |      6000 | NS      | $7417.89      | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| JPMORGAN CHASE & CO.                                             | JPMORGAN CHASE & CO COMMON STOCK                                        | CUSIP: 46625H100<br>LEI: 8I5DZWZKVSZI1NUHU748 | Long             | EC               |  | US        |      1538 | NS      | $206245.80    | 0.57%             |  |  |  | No            |                  1 | On Loan: No      |
| JAPAN POST HOLDINGS Co.,Ltd.                                     | JAPAN POST HOLDINGS CO LTD COMMON STOCK                                 | CUSIP: N/A<br>LEI: 5299003D9N4JBS256X18       | Long             | EC               |  | JP        |      3630 | NS      | $30687.94     | 0.08%             |  |  |  | No            |                  1 | On Loan: No      |
| ZTE Corporation                                                  | ZTE CORP-H COMMON STOCK                                                 | CUSIP: N/A<br>LEI: 3003004FBGVVG1CW5U45       | Long             | EC               |  | CN        |      3000 | NS      | $6610.77      | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| CF INDUSTRIES HOLDINGS, INC.                                     | CF INDUSTRIES HOLDINGS INC COMMON STOCK                                 | CUSIP: 125269100<br>LEI: 529900CG8YAQFZ2JMV97 | Long             | EC               |  | US        |       637 | NS      | $54272.40     | 0.15%             |  |  |  | No            |                  1 | On Loan: No      |
| HUNTSMAN CORPORATION                                             | HUNTSMAN CORP COMMON STOCK                                              | CUSIP: 447011107<br>LEI: 5299000V56320A7RIQ67 | Long             | EC               |  | US        |      2538 | NS      | $69744.24     | 0.19%             |  |  |  | No            |                  1 | On Loan: No      |
| REGENERON PHARMACEUTICALS, INC.                                  | REGENERON PHARMACEUTICALS COMMON STOCK                                  | CUSIP: 75886F107<br>LEI: 549300RCBFWIRX3HYQ56 | Long             | EC               |  | US        |        49 | NS      | $35353.01     | 0.10%             |  |  |  | No            |                  1 | On Loan: No      |
| PCCW LIMITED                                                     | PCCW LTD COMMON STOCK                                                   | CUSIP: N/A<br>LEI: 254900SI7GPUPA1TJX39       | Long             | EC               |  | HK        |     17000 | NS      | $7666.44      | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| WH GROUP LIMITED                                                 | WH GROUP LTD COMMON STOCK                                               | CUSIP: N/A<br>LEI: 254900A4AYEDRWYSE928       | Long             | EC               |  | HK        |     13000 | NS      | $7561.38      | 0.02%             |  |  |  | Yes           |                  1 | On Loan: No      |
| CHINA MEDICAL SYSTEM HOLDINGS LIMITED                            | CHINA MEDICAL SYSTEM HOLDING COMMON STOCK                               | CUSIP: N/A<br>LEI: 529900Z57DVJXUBLHX66       | Long             | EC               |  | CN        |      4000 | NS      | $6293.04      | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| SWIRE PACIFIC LIMITED                                            | SWIRE PACIFIC LTD - CL A COMMON STOCK                                   | CUSIP: N/A<br>LEI: 549300KZOZHII0DGF611       | Long             | EC               |  | HK        |      1000 | NS      | $8801.54      | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| MICRON TECHNOLOGY, INC.                                          | MICRON TECHNOLOGY INC COMMON STOCK                                      | CUSIP: 595112103<br>LEI: B3DXGBC8GAIYWI2Z0172 | Long             | EC               |  | US        |      6517 | NS      | $325719.66    | 0.90%             |  |  |  | No            |                  1 | On Loan: No      |
| KERRY PROPERTIES LIMITED                                         | KERRY PROPERTIES LTD COMMON STOCK                                       | CUSIP: N/A<br>LEI: 5299006T5ULIIRZ7LK49       | Long             | EC               |  | HK        |      4000 | NS      | $8711.86      | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| United States of America                                         | TREASURY BILL 0.000000% 06/01/2023                                      | CUSIP: 912796ZG7<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |    840000 | PA      | $824346.31    | 2.27%             | 2023-06-01      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| SK hynix Inc.                                                    | SK HYNIX INC 144A 1.500000% 01/19/2026                                  | CUSIP: 78392BAB3<br>LEI: 988400XAIK6XISWQV045 | Long             | DBT              | NUSS              | KR        |    200000 | PA      | $173321.38    | 0.48%             | 2026-01-19      | Fixed         | 1.50%                 | Yes           |                  2 | On Loan: No      |
| Volkswagen International Finance N.V.                            | VOLKSWAGEN INTERNATIONAL FINANCE NV MTN 4.250000% 02/15/2028            | CUSIP: N/A<br>LEI: 5299004PWNHKYTR23649       | Long             | DBT              | NUSS              | DE        |    200000 | PA      | $209637.44    | 0.58%             | 2028-02-15      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| VERTEX PHARMACEUTICALS INCORPORATED                              | VERTEX PHARMACEUTICALS INC COMMON STOCK                                 | CUSIP: 92532F100<br>LEI: 54930015RAQRRZ5ZGJ91 | Long             | EC               |  | US        |       118 | NS      | $34076.04     | 0.09%             |  |  |  | No            |                  1 | On Loan: No      |
| DICK'S SPORTING GOODS, INC.                                      | DICK'S SPORTING GOODS INC COMMON STOCK                                  | CUSIP: 253393102<br>LEI: 529900SSBV5I4LWSK313 | Long             | EC               |  | US        |      1194 | NS      | $143626.26    | 0.40%             |  |  |  | No            |                  1 | On Loan: No      |
| JARDINE CYCLE & CARRIAGE LIMITED                                 | JARDINE CYCLE & CARRIAGE LTD COMMON STOCK                               | CUSIP: N/A<br>LEI: 254900WEP6OCEXFWML09       | Long             | EC               |  | SG        |      9541 | NS      | $203727.49    | 0.56%             |  |  |  | No            |                  1 | On Loan: No      |
| GENERAL MILLS, INC.                                              | GENERAL MILLS INC COMMON STOCK                                          | CUSIP: 370334104<br>LEI: 2TGYMUGI08PO8X8L6150 | Long             | EC               |  | US        |      2231 | NS      | $187069.35    | 0.52%             |  |  |  | No            |                  1 | On Loan: No      |
| AntarChile S.A.                                                  | ANTARCHILE SA COMMON STOCK                                              | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               |  | CL        |      9423 | NS      | $79983.02     | 0.22%             |  |  |  | No            |                  1 | On Loan: No      |
| VINDA INTERNATIONAL HOLDINGS LIMITED                             | VINDA INTERNATIONAL HOLDINGS COMMON STOCK                               | CUSIP: N/A<br>LEI: 529900NPG649VG0P5U39       | Long             | EC               |  | HK        |      3000 | NS      | $8839.98      | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| Republica Federativa do Brasil                                   | FED REPUBLIC OF BRAZIL 4.250000% 01/07/2025                             | CUSIP: 105756BV1<br>LEI: 254900ZFY40OYEADAP90 | Long             | DBT              | NUSS              | BR        |    200000 | PA      | $196270.04    | 0.54%             | 2025-01-07      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| GRAND PHARMACEUTICAL GROUP LIMITED                               | GRAND PHARMACEUTICAL GROUP L COMMON STOCK                               | CUSIP: N/A<br>LEI: 8945001XW4FS15S8Z778       | Long             | EC               |  | HK        |     13000 | NS      | $7661.31      | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| Dr. Ing. h.c. F. Porsche Aktiengesellschaft                      | Dr Ing hc F Porsche AG PREFERRED STOCK                                  | CUSIP: N/A<br>LEI: 529900EWEX125AULXI58       | Long             | EP               |  | DE        |      1345 | NS      | $136416.31    | 0.38%             |  |  |  | No            |                  2 | On Loan: No      |
| UNIVERSAL HEALTH SERVICES, INC.                                  | UNIVERSAL HEALTH SERVICES-B COMMON STOCK                                | CUSIP: 913903100<br>LEI: 549300YGMGQDO0NMJD09 | Long             | EC               |  | US        |      2527 | NS      | $356029.03    | 0.98%             |  |  |  | No            |                  1 | On Loan: No      |
| Ferrari N.V.                                                     | FERRARI NV COMMON STOCK                                                 | CUSIP: N3167Y103<br>LEI: 549300RIVY5EX8RCON76 | Long             | EC               |  | IT        |       665 | NS      | $142456.30    | 0.39%             |  |  |  | No            |                  1 | On Loan: No      |
| Evolution AB (publ)                                              | EVOLUTION AB COMMON STOCK                                               | CUSIP: N/A<br>LEI: 549300SUH6ZR1RF6TA88       | Long             | EC               |  | SE        |      1529 | NS      | $148784.75    | 0.41%             |  |  |  | Yes           |                  1 | On Loan: No      |
| NUCOR CORPORATION                                                | NUCOR CORP COMMON STOCK                                                 | CUSIP: 670346105<br>LEI: 549300GGJCRSI2TIEJ46 | Long             | EC               |  | US        |       494 | NS      | $65114.14     | 0.18%             |  |  |  | No            |                  1 | On Loan: No      |
| EQUINOR ASA                                                      | EQUINOR ASA COMMON STOCK                                                | CUSIP: N/A<br>LEI: OW6OFBNCKXC4US5C7523       | Long             | EC               |  | NO        |      2449 | NS      | $87942.82     | 0.24%             |  |  |  | No            |                  1 | On Loan: No      |
| TCL ELECTRONICS HOLDINGS LIMITED                                 | TCL ELECTRONICS HOLDINGS LTD COMMON STOCK                               | CUSIP: N/A<br>LEI: 5299000Y9D001SNNTJ48       | Long             | EC               |  | HK        |     18000 | NS      | $7218.03      | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| Pan Ocean Co., Ltd.                                              | PAN OCEAN CO LTD COMMON STOCK                                           | CUSIP: N/A<br>LEI: 988400HGOJIHDWPIAT45       | Long             | EC               |  | KR        |     23172 | NS      | $105002.42    | 0.29%             |  |  |  | No            |                  1 | On Loan: No      |
| ORANGE SA                                                        | ORANGE COMMON STOCK                                                     | CUSIP: N/A<br>LEI: 969500MCOONR8990S771       | Long             | EC               |  | FR        |     12002 | NS      | $119237.59    | 0.33%             |  |  |  | No            |                  1 | On Loan: No      |
| DOW INC.                                                         | DOW INC COMMON STOCK                                                    | CUSIP: 260557103<br>LEI: 5493003S21INSLK2IP73 | Long             | EC               |  | US        |      1364 | NS      | $68731.96     | 0.19%             |  |  |  | No            |                  1 | On Loan: No      |
| China National Building Material Company Limited                 | CHINA NATIONAL BUILDING MA-H COMMON STOCK                               | CUSIP: N/A<br>LEI: 52990085PGF8YEPLBZ26       | Long             | EC               |  | CN        |      9000 | NS      | $7390.99      | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| KINGBOARD LAMINATES HOLDINGS LIMITED                             | KINGBOARD LAMINATES HLDG LTD COMMON STOCK                               | CUSIP: N/A<br>LEI: 529900B76JV9QCZINB33       | Long             | EC               |  | HK        |      7000 | NS      | $7694.62      | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| SUN HUNG KAI PROPERTIES LIMITED                                  | SUN HUNG KAI PROPERTIES COMMON STOCK                                    | CUSIP: N/A<br>LEI: 529900LUMD393RD3S874       | Long             | EC               |  | HK        |      1000 | NS      | $13682.75     | 0.04%             |  |  |  | No            |                  1 | On Loan: No      |
| SSY GROUP LIMITED                                                | SSY GROUP LTD COMMON STOCK                                              | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               |  | HK        |     14000 | NS      | $7730.50      | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| TSMC ARIZONA CORPORATION                                         | TSMC ARIZONA CORP 1.750000% 10/25/2026                                  | CUSIP: 872898AA9<br>LEI: 2549005GOBWLCSY63Q97 | Long             | DBT              | CORP              | TW        |    200000 | PA      | $178424.71    | 0.49%             | 2026-10-25      | Fixed         | 1.75%                 | No            |                  2 | On Loan: No      |
| Rzeczpospolita Polska                                            | REPUBLIC OF POLAND 3.250000% 04/06/2026                                 | CUSIP: 731011AU6<br>LEI: 259400R9L8QEP0TPXS31 | Long             | DBT              | NUSS              | PL        |    200000 | PA      | $191560.00    | 0.53%             | 2026-04-06      | Fixed         | 3.25%                 | No            |                  2 | On Loan: No      |
| MOL Magyar Olaj- es Gazipari Nyilvanosan Mukodo Reszvenytarsasag | MOL HUNGARIAN OIL AND GAS PL COMMON STOCK                               | CUSIP: N/A<br>LEI: 213800R83KX5FQFGXS67       | Long             | EC               |  | HU        |      3638 | NS      | $25378.39     | 0.07%             |  |  |  | No            |                  1 | On Loan: No      |
| MARATHON OIL CORPORATION                                         | MARATHON OIL CORP 6.800000% 03/15/2032                                  | CUSIP: 565849AB2<br>LEI: 1FRVQX2CRLGC1XLP5727 | Long             | DBT              | CORP              | US        |    200000 | PA      | $205755.33    | 0.57%             | 2032-03-15      | Fixed         | 6.80%                 | No            |                  2 | On Loan: No      |
| VICTORIA'S SECRET & CO.                                          | VICTORIA'S SECRET & CO COMMON STOCK                                     | CUSIP: 926400102<br>LEI: 5493006T3O70U3UWVF17 | Long             | EC               |  | US        |      3351 | NS      | $119898.78    | 0.33%             |  |  |  | No            |                  1 | On Loan: No      |
| The Bank of New York Mellon Corporation                          | BANK OF NEW YORK MELLON CORP COMMON STOCK                               | CUSIP: 064058100<br>LEI: WFLLPEPC7FZXENRZV188 | Long             | EC               |  | US        |      4092 | NS      | $186267.84    | 0.51%             |  |  |  | No            |                  1 | On Loan: No      |
| ASMPT Limited                                                    | ASMPT LTD COMMON STOCK                                                  | CUSIP: N/A<br>LEI: 529900PYFA1HFYKPT360       | Long             | EC               |  | HK        |      1000 | NS      | $7129.63      | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| Goldman Sachs & Co. LLC                                          | GS Custom EU Long                                                       | CUSIP: N/A<br>LEI: FOR8UP27PHTHYVLBNG30       | N/A              | DE               |  | US        |      3650 | NC      | $-574.15      | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| Goldman Sachs & Co. LLC                                          | GS Custom EU Long                                                       | CUSIP: N/A<br>LEI: FOR8UP27PHTHYVLBNG30       | N/A              | DE               |  | US        |      1830 | NC      | $-3023.89     | -0.01%            |  |  |  | No            |                  2 | On Loan: No      |
| Kingdom of Saudi Arabia                                          | SAUDI GOVERNMENT INTERNATIONAL BOND MTN 4.500000% 10/26/2046            | CUSIP: 80413TAC3<br>LEI: 635400FMICXSM3SI3H65 | Long             | DBT              | NUSS              | SA        |    200000 | PA      | $177250.00    | 0.49%             | 2046-10-26      | Fixed         | 4.50%                 | Yes           |                  2 | On Loan: No      |
| Guangzhou Baiyunshan Pharmaceutical Holdings Company Limited     | GUANGZHOU BAIYUNSHAN PHARM-H COMMON STOCK                               | CUSIP: N/A<br>LEI: 529900ROARJHMUIME057       | Long             | EC               |  | CN        |      2000 | NS      | $5893.32      | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| EQUINOR ASA                                                      | EQUINOR ASA MTN 6.875000% 03/11/2031                                    | CUSIP: R8412TAC6<br>LEI: OW6OFBNCKXC4US5C7523 | Long             | DBT              | NUSS              | NO        |    140000 | PA      | $191514.10    | 0.53%             | 2031-03-11      | Fixed         | 6.88%                 | No            |                  2 | On Loan: No      |
| SHOUGANG FUSHAN RESOURCES GROUP LIMITED                          | SHOUGANG FUSHAN RESOURCES GR COMMON STOCK                               | CUSIP: N/A<br>LEI: 529900OPUNJYLOX4OL37       | Long             | EC               |  | HK        |     23000 | NS      | $7337.18      | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| China Railway Signal & Communication Corporation Limited         | CHINA RAILWAY SIGNAL & COM-H COMMON STOCK                               | CUSIP: N/A<br>LEI: 529900GK68ZHDM38WD21       | Long             | EC               |  | CN        |     23000 | NS      | $7513.98      | 0.02%             |  |  |  | Yes           |                  1 | On Loan: No      |
| Lenovo Group Limited                                             | LENOVO GROUP LTD COMMON STOCK                                           | CUSIP: N/A<br>LEI: 254900VUZRGD5U73RE46       | Long             | EC               |  | CN        |     10000 | NS      | $8212.21      | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| N/A                                                              | MACQUARIE COLLATERAL BALANCE FS FUNDS                                   | CUSIP: N/A<br>LEI: N/A                        | Long             | STIV             |  | US        |    370000 | PA      | $370000.00    | 1.02%             |  |  |  | No            |                  2 | 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