# EDGAR Filing Document

**Accession Number:** 0001593547
**File Stem:** 0002048251-26-004267
**Filing Date:** 2026-5
**Character Count:** 11536
**Document Hash:** cce2cfc01db1c4e6066d79f0bfd89d8e
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0002048251-26-004267.hdr.sgml**: 20260528

**ACCESSION NUMBER**: 0002048251-26-004267

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 1

**CONFORMED PERIOD OF REPORT**: 20260331

**FILED AS OF DATE**: 20260528

**DATE AS OF CHANGE**: 20260528

**PERIOD START**: 20260930

**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:** 261029665

**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

### SouthernSun U.S. Equity Fund (Series ID: S000070199)

| Class ID   | Class Name     | Ticker Symbol   |
|:---|:---|:---|
| C000223248 | Class N Shares | SSEFX           |
| C000223249 | Class I Shares | SSEIX           |

## 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:** SouthernSun U.S. Equity Fund

- **b. EDGAR series identifier (if any):** S000070199

- **c. LEI of Series:** 54930085KT1KEQP3UQ57

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

- **a. Date of fiscal year-end:** 2026-09-30

- **b. Date as of which information is reported:** 2026-03-31

**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:** $45796686.98

**Total Liabilities:** $87733.35

**Net Assets:** $45708953.63

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000223249 | -7.89%               | 5.66%                | 8.05%                |
| Class ID C000223248 | -7.88%               | 5.73%                | 8.04%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $707768.15               | $-4632356.39                               |
| Month 2  | $687492.31               | $1950892.90                                |
| Month 3  | $92701.65                | $3385646.76                                |

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| MODINE MANUFACTURING COMPANY         | MODINE MANUFACTURING CO COMMON STOCK      | CUSIP: 607828100<br>LEI: Z35SZFYJR8GZZRSIUU09 | Long             | EC               |  | US        |      7028 | NS      | $1523037.88   | 3.33%             |  |  |  | No            |                  1 | On Loan: No      |
| API GROUP CORPORATION                | API GROUP CORP COMMON STOCK               | CUSIP: 00187Y100<br>LEI: 213800NZT1VX6PZ7BT53 | Long             | EC               |  | US        |     66433 | NS      | $2691865.16   | 5.89%             |  |  |  | Yes           |                  1 | On Loan: No      |
| THOR INDUSTRIES, INC.                | THOR INDUSTRIES INC COMMON STOCK          | CUSIP: 885160101<br>LEI: 254900XZO1228PDSG060 | Long             | EC               |  | US        |      8208 | NS      | $655737.12    | 1.43%             |  |  |  | No            |                  1 | On Loan: No      |
| BOOT BARN HOLDINGS, INC.             | BOOT BARN HOLDINGS INC COMMON STOCK       | CUSIP: N/A<br>LEI: 529900QE1BFMYA3N4E71       | Long             | EC               |  | US        |     16727 | NS      | $2448163.72   | 5.36%             |  |  |  | No            |                  1 | On Loan: No      |
| Live Oak Bancshares, Inc.            | LIVE OAK BANCSHARES INC COMMON STOCK      | CUSIP: 53803X105<br>LEI: N/A                  | Long             | EC               |  | US        |     56071 | NS      | $1854267.97   | 4.06%             |  |  |  | No            |                  1 | On Loan: No      |
| THE BRINK'S COMPANY                  | BRINK'S CO/THE COMMON STOCK               | CUSIP: 109696104<br>LEI: XFP140TFNOQMIVFTVQ13 | Long             | EC               |  | US        |     16398 | NS      | $1699324.74   | 3.72%             |  |  |  | No            |                  1 | On Loan: No      |
| MURPHY USA INC.                      | MURPHY USA INC COMMON STOCK               | CUSIP: 626755102<br>LEI: 549300Y081F8XIKQIO72 | Long             | EC               |  | US        |      5153 | NS      | $2545427.41   | 5.57%             |  |  |  | No            |                  1 | On Loan: No      |
| GENERAC HOLDINGS INC.                | GENERAC HOLDINGS INC COMMON STOCK         | CUSIP: 368736104<br>LEI: 529900S2H2AHJHSFFI84 | Long             | EC               |  | US        |     12142 | NS      | $2371696.86   | 5.19%             |  |  |  | No            |                  1 | On Loan: No      |
| N/A                                  | BROWN BROTHERS HARRIMAN SWEEP INTEREST    | CUSIP: N/A<br>LEI: N/A                        | Long             | STIV             |  | US        |   3010585 | PA      | $3010585.27   | 6.59%             |  |  |  | No            |                  1 | On Loan: No      |
| AGCO CORPORATION                     | AGCO CORP COMMON STOCK                    | CUSIP: N/A<br>LEI: LYOM0B2GCF1JWXK5ZG04       | Long             | EC               |  | US        |     12955 | NS      | $1501095.85   | 3.28%             |  |  |  | No            |                  1 | On Loan: No      |
| EXTREME NETWORKS, INC.               | EXTREME NETWORKS INC COMMON STOCK         | CUSIP: 30226D106<br>LEI: 549300WRECW11X94UB57 | Long             | EC               |  | US        |    123778 | NS      | $1866572.24   | 4.08%             |  |  |  | No            |                  1 | On Loan: No      |
| CRANE NXT, CO.                       | CRANE NXT CO COMMON STOCK                 | CUSIP: 224441105<br>LEI: 549300EXNPSXEWUD3N21 | Long             | EC               |  | US        |     46262 | NS      | $1877774.58   | 4.11%             |  |  |  | No            |                  1 | On Loan: No      |
| FLOOR & DECOR HOLDINGS, INC.         | FLOOR & DECOR HOLDINGS INC-A COMMON STOCK | CUSIP: 339750101<br>LEI: 549300M5FR3N688XGQ36 | Long             | EC               |  | US        |     21745 | NS      | $1104646.00   | 2.42%             |  |  |  | No            |                  1 | On Loan: No      |
| MSA Safety Incorporated              | MSA SAFETY INC COMMON STOCK               | CUSIP: 553498106<br>LEI: 529900DVA3258XK11O39 | Long             | EC               |  | US        |     10185 | NS      | $1669830.75   | 3.65%             |  |  |  | No            |                  1 | On Loan: No      |
| BELDEN INC.                          | BELDEN INC COMMON STOCK                   | CUSIP: N/A<br>LEI: 68BKYO1JC791TTJHUE82       | Long             | EC               |  | US        |     16215 | NS      | $1861968.45   | 4.07%             |  |  |  | No            |                  1 | On Loan: No      |
| U. S. PHYSICAL THERAPY, INC.         | U.S. PHYSICAL THERAPY INC COMMON STOCK    | CUSIP: 90337L108<br>LEI: 529900KL1UXQYFIOMY96 | Long             | EC               |  | US        |     28037 | NS      | $2101653.52   | 4.60%             |  |  |  | No            |                  1 | On Loan: No      |
| LOUISIANA-PACIFIC CORPORATION        | LOUISIANA-PACIFIC CORP COMMON STOCK       | CUSIP: 546347105<br>LEI: 549300C7E2UAO5BVRR75 | Long             | EC               |  | US        |     28667 | NS      | $2085524.25   | 4.56%             |  |  |  | No            |                  1 | On Loan: No      |
| THE BOSTON BEER COMPANY, INC.        | BOSTON BEER COMPANY INC-A COMMON STOCK    | CUSIP: 100557107<br>LEI: 529900Q02MQ0DCQNRM58 | Long             | EC               |  | US        |      3453 | NS      | $795571.20    | 1.74%             |  |  |  | No            |                  1 | On Loan: No      |
| INGEVITY CORPORATION                 | INGEVITY CORP COMMON STOCK                | CUSIP: 45688C107<br>LEI: 5493009UTFC4B5IMGF87 | Long             | EC               |  | US        |     15624 | NS      | $1112897.52   | 2.43%             |  |  |  | No            |                  1 | On Loan: No      |
| VALMONT INDUSTRIES, INC.             | VALMONT INDUSTRIES COMMON STOCK           | CUSIP: 920253101<br>LEI: 5493009ZGZJJ8F77JN08 | Long             | EC               |  | US        |      4130 | NS      | $1650224.10   | 3.61%             |  |  |  | No            |                  1 | On Loan: No      |
| BROADRIDGE FINANCIAL SOLUTIONS, INC. | BROADRIDGE FINANCIAL SOLUTIO COMMON STOCK | CUSIP: 11133T103<br>LEI: 549300KZDJZQ2YIHRC28 | Long             | EC               |  | US        |     11592 | NS      | $1883468.16   | 4.12%             |  |  |  | No            |                  1 | On Loan: No      |
| OSHKOSH CORPORATION                  | OSHKOSH CORP COMMON STOCK                 | CUSIP: 688239201<br>LEI: 549300FEKNPCFSA2B506 | Long             | EC               |  | US        |      7710 | NS      | $1134989.10   | 2.48%             |  |  |  | No            |                  1 | On Loan: No      |
| WATSCO, INC.                         | WATSCO INC COMMON STOCK                   | CUSIP: 942622200<br>LEI: 549300F1Y3LN5BX5WN75 | Long             | EC               |  | US        |      4605 | NS      | $1675252.95   | 3.67%             |  |  |  | No            |                  1 | On Loan: No      |
| ARMSTRONG WORLD INDUSTRIES, INC.     | ARMSTRONG WORLD INDUSTRIES COMMON STOCK   | CUSIP: 04247X102<br>LEI: KXMRXXOJ88Q45Y45MG74 | Long             | EC               |  | US        |      9261 | NS      | $1526212.80   | 3.34%             |  |  |  | No            |                  1 | On Loan: No      |
| DARLING INGREDIENTS INC.             | DARLING INGREDIENTS INC COMMON STOCK      | CUSIP: 237266101<br>LEI: L1N0SPPKS7EXZYUMZ898 | Long             | EC               |  | US        |     49871 | NS      | $3084521.35   | 6.75%             |  |  |  | No            |                  1 | On Loan: No      |

### Signature

**Date Signed:** 2026-03-31

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

**Signature:** Andrew Metzger

**Name of Signer:** Andrew Metzger

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