# EDGAR Filing Document

**Accession Number:** 0001593547
**File Stem:** 0002048251-25-002660
**Filing Date:** 2025-11
**Character Count:** 27687
**Document Hash:** 6475cf2f1a73acc7231bf3ebc17c2134
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0002048251-25-002660.hdr.sgml**: 20251128

**ACCESSION NUMBER**: 0002048251-25-002660

**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:** 251532674

**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

### RAYLIANT QUANTAMENTAL CHINA EQUITY ETF (Series ID: S000070570)

| Class ID   | Class Name                             | Ticker Symbol   |
|:---|:---|:---|
| C000224149 | RAYLIANT QUANTAMENTAL CHINA EQUITY ETF | RAYC            |

## 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:** Rayliant Quantamental China Equity ETF

- **b. EDGAR series identifier (if any):** S000070570

- **c. LEI of Series:** 54930033AYXADODKSL23

**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:** $21774794.43

**Total Liabilities:** $61120.33

**Net Assets:** $21713674.10

**Cash Not Reported:** $124345.03

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000224149 | 2.72%                | 13.86%               | 4.91%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $726930.69               | $-176205.48                                |
| Month 2  | $486296.76               | $2149320.33                                |
| Month 3  | $278332.64               | $532354.73                                 |

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| Jiangsu Changshu Rural Commercial Bank Co., Ltd.         | JIANGSU CHANGSHU RURAL COM-A COMMON STOCK | CUSIP: N/A<br>LEI: 300300C1115432000063 | Long             | EC               |  | CN        |     54052 | NS      | $51872.45     | 0.24%             |  |  |  | No            |                  1 | On Loan: No      |
| China Shenhua Energy Company Limited                     | CHINA SHENHUA ENERGY CO-A COMMON STOCK    | CUSIP: N/A<br>LEI: 529900N9JOX4C108MA40 | Long             | EC               |  | CN        |     22600 | NS      | $122078.18    | 0.56%             |  |  |  | No            |                  1 | On Loan: No      |
| China State Construction Engineering Corporation Limited | CHINA STATE CONSTRUCTION -A COMMON STOCK  | CUSIP: N/A<br>LEI: 300300CWW8WOEV3BR645 | Long             | EC               |  | CN        |    694200 | NS      | $530823.30    | 2.44%             |  |  |  | No            |                  1 | On Loan: No      |
| Gree Electric Appliances, Inc. of Zhuhai                 | GREE ELECTRIC APPLIANCES I-A COMMON STOCK | CUSIP: N/A<br>LEI: 655600UY069MU9JRAN62 | Long             | EC               |  | CN        |     43900 | NS      | $244648.54    | 1.13%             |  |  |  | No            |                  1 | On Loan: No      |
| Shandong Gold Mining Co., Ltd.                           | SHANDONG GOLD MINING CO LT-A COMMON STOCK | CUSIP: N/A<br>LEI: 300300KC2K8BC07OSV77 | Long             | EC               |  | CN        |     32700 | NS      | $180443.22    | 0.83%             |  |  |  | No            |                  1 | On Loan: No      |
| BANK OF HANGZHOU CO., LTD.                               | BANK OF HANGZHOU CO LTD-A COMMON STOCK    | CUSIP: N/A<br>LEI: 300300C1092033000075 | Long             | EC               |  | CN        |     84000 | NS      | $179964.64    | 0.83%             |  |  |  | No            |                  1 | On Loan: No      |
| Bank of Jiangsu Co., Ltd.                                | BANK OF JIANGSU CO LTD-A COMMON STOCK     | CUSIP: N/A<br>LEI: 300300C1086832000046 | Long             | EC               |  | CN        |    129730 | NS      | $182561.93    | 0.84%             |  |  |  | No            |                  1 | On Loan: No      |
| CHINA PACIFIC INSURANCE (GROUP) CO., LTD.                | CHINA PACIFIC INSURANCE GR-A COMMON STOCK | CUSIP: N/A<br>LEI: 529900BA5ILEL308WX03 | Long             | EC               |  | CN        |    102900 | NS      | $507035.95    | 2.34%             |  |  |  | No            |                  1 | On Loan: No      |
| Shengyi Technology Co., Ltd.                             | SHENGYI TECHNOLOGY CO LTD -A COMMON STOCK | CUSIP: N/A<br>LEI: N/A                  | Long             | EC               |  | CN        |     61400 | NS      | $465362.97    | 2.14%             |  |  |  | No            |                  1 | On Loan: No      |
| Luxshare Precision Industry Co., Ltd.                    | LUXSHARE PRECISION INDUSTR-A COMMON STOCK | CUSIP: N/A<br>LEI: 300300QLLDUELXN16530 | Long             | EC               |  | CN        |     37700 | NS      | $342174.29    | 1.58%             |  |  |  | No            |                  1 | On Loan: No      |
| Xiamen Jihong Co Ltd                                     | XIAMEN JIHONG TECHNOLOGY C-A COMMON STOCK | CUSIP: N/A<br>LEI: 836800P5PFS75J138506 | Long             | EC               |  | CN        |    174400 | NS      | $454633.11    | 2.09%             |  |  |  | No            |                  1 | On Loan: No      |
| Ligao Foods Co., Ltd.                                    | LIGAO FOODS CO LTD-A COMMON STOCK         | CUSIP: N/A<br>LEI: N/A                  | Long             | EC               |  | CN        |     19600 | NS      | $116267.92    | 0.54%             |  |  |  | No            |                  1 | On Loan: No      |
| HUATAI SECURITIES CO.,LTD.                               | HUATAI SECURITIES CO LTD-A COMMON STOCK   | CUSIP: N/A<br>LEI: 3003009ABT0UCWO79Q77 | Long             | EC               |  | CN        |     64700 | NS      | $197620.31    | 0.91%             |  |  |  | No            |                  1 | On Loan: No      |
| GUOSEN SECURITIES CO., LTD.                              | GUOSEN SECURITIES CO LTD-A COMMON STOCK   | CUSIP: N/A<br>LEI: 254900SSGIWSMEOHDN82 | Long             | EC               |  | CN        |     50800 | NS      | $96434.04     | 0.44%             |  |  |  | No            |                  1 | On Loan: No      |
| BANK OF CHANGSHA CO., LTD.                               | BANK OF CHANGSHA CO LTD-A COMMON STOCK    | CUSIP: N/A<br>LEI: 300300C1086243000041 | Long             | EC               |  | CN        |     50600 | NS      | $62687.38     | 0.29%             |  |  |  | No            |                  1 | On Loan: No      |
| CMOC Group Limited                                       | CMOC GROUP LTD-A COMMON STOCK             | CUSIP: N/A<br>LEI: 2549008KG3638J59U652 | Long             | EC               |  | CN        |    292600 | NS      | $644529.56    | 2.97%             |  |  |  | No            |                  1 | On Loan: No      |
| The People's Insurance Company (Group) of China Limited  | PICC HOLDING CO-A COMMON STOCK            | CUSIP: N/A<br>LEI: 3003000P2JHYHQ524P66 | Long             | EC               |  | CN        |    270200 | NS      | $295319.19    | 1.36%             |  |  |  | No            |                  1 | On Loan: No      |
| Perfect World Co Ltd                                     | PERFECT WORLD CO LTD-A COMMON STOCK       | CUSIP: N/A<br>LEI: N/A                  | Long             | EC               |  | CN        |    182200 | NS      | $489793.19    | 2.26%             |  |  |  | No            |                  1 | On Loan: No      |
| Zhongji Innolight Co Ltd                                 | ZHONGJI INNOLIGHT CO LTD-A COMMON STOCK   | CUSIP: N/A<br>LEI: 655600K7YZDKAI214O83 | Long             | EC               |  | CN        |       900 | NS      | $50973.99     | 0.23%             |  |  |  | No            |                  1 | On Loan: No      |
| YUNNAN BAIYAO GROUP CO., LTD                             | YUNNAN BAIYAO GROUP CO LTD-A COMMON STOCK | CUSIP: N/A<br>LEI: N/A                  | Long             | EC               |  | CN        |     18000 | NS      | $143320.14    | 0.66%             |  |  |  | No            |                  1 | On Loan: No      |
| Jinlei Technology Co Ltd                                 | JINLEI TECHNOLOGY CO LTD -A COMMON STOCK  | CUSIP: N/A<br>LEI: N/A                  | Long             | EC               |  | CN        |     87700 | NS      | $369015.77    | 1.70%             |  |  |  | No            |                  1 | On Loan: No      |
| CHINA MINSHENG BANKING CORP., LTD.                       | CHINA MINSHENG BANKING-A COMMON STOCK     | CUSIP: N/A<br>LEI: 549300HBUGSQD1VCXG94 | Long             | EC               |  | CN        |    283700 | NS      | $158420.46    | 0.73%             |  |  |  | No            |                  1 | On Loan: No      |
| Jiangsu Jiangyin Rural Commercial Bank CO.,LTD.          | JIANGSU JIANGYIN RURAL COM-A COMMON STOCK | CUSIP: N/A<br>LEI: 300300C1114732000048 | Long             | EC               |  | CN        |    270800 | NS      | $169074.28    | 0.78%             |  |  |  | No            |                  1 | On Loan: No      |
| Eastroc Beverage Group Co Ltd                            | EASTROC BEVERAGE GROUP CO -A COMMON STOCK | CUSIP: N/A<br>LEI: 836800LQ338417RCIL29 | Long             | EC               |  | CN        |     10160 | NS      | $433062.27    | 1.99%             |  |  |  | No            |                  1 | On Loan: No      |
| Ping An Insurance (Group) Company of China, Ltd.         | PING AN INSURANCE GROUP CO-A COMMON STOCK | CUSIP: N/A<br>LEI: 529900M9MC28JLN35U89 | Long             | EC               |  | CN        |     28600 | NS      | $221138.98    | 1.02%             |  |  |  | No            |                  1 | On Loan: No      |
| China Merchants Bank Co., Ltd.                           | CHINA MERCHANTS BANK-A COMMON STOCK       | CUSIP: N/A<br>LEI: 549300MKO5B60FFIHF58 | Long             | EC               |  | CN        |     99897 | NS      | $566382.94    | 2.61%             |  |  |  | No            |                  1 | On Loan: No      |
| INDUSTRIAL BANK CO.,LTD.                                 | INDUSTRIAL BANK CO LTD -A COMMON STOCK    | CUSIP: N/A<br>LEI: 300300C1030935001303 | Long             | EC               |  | CN        |    121100 | NS      | $337266.75    | 1.55%             |  |  |  | No            |                  1 | On Loan: No      |
| HUA XIA BANK CO., Limited                                | HUAXIA BANK CO LTD-A COMMON STOCK         | CUSIP: N/A<br>LEI: 300300AKNDEHIGVDZW37 | Long             | EC               |  | CN        |     45800 | NS      | $42282.46     | 0.19%             |  |  |  | No            |                  1 | On Loan: No      |
| HUANENG POWER INTERNATIONAL, INC.                        | HUANENG POWER INTL INC-A COMMON STOCK     | CUSIP: N/A<br>LEI: 529900WU0SMVKMPG4V21 | Long             | EC               |  | CN        |     40500 | NS      | $40117.01     | 0.18%             |  |  |  | No            |                  1 | On Loan: No      |
| Shanghai Rural Commercial Bank Co., Ltd.                 | SHANGHAI RURAL COMMERCIAL -A COMMON STOCK | CUSIP: N/A<br>LEI: 300300C1122131000095 | Long             | EC               |  | CN        |     78500 | NS      | $90093.16     | 0.41%             |  |  |  | No            |                  1 | On Loan: No      |
| Foxconn Industrial Internet Co., Ltd.                    | FOXCONN INDUSTRIAL INTERNE-A COMMON STOCK | CUSIP: N/A<br>LEI: N/A                  | Long             | EC               |  | CN        |     49300 | NS      | $456589.08    | 2.10%             |  |  |  | No            |                  1 | On Loan: No      |
| OmniVision Integrated Circuits Group, Inc.               | OMNIVISION INTEGRATED CIRCUI COMMON STOCK | CUSIP: N/A<br>LEI: 8368000MFHXX01GPND38 | Long             | EC               |  | CN        |     13200 | NS      | $279968.01    | 1.29%             |  |  |  | No            |                  1 | On Loan: No      |
| Bank of Shanghai Co., Ltd.                               | BANK OF SHANGHAI CO LTD-A COMMON STOCK    | CUSIP: N/A<br>LEI: 300300C1091231000098 | Long             | EC               |  | CN        |    127900 | NS      | $160785.70    | 0.74%             |  |  |  | No            |                  1 | On Loan: No      |
| Qilu Bank Co., Ltd.                                      | QILU BANK CO LTD-A COMMON STOCK           | CUSIP: N/A<br>LEI: 300300C1088137000022 | Long             | EC               |  | CN        |     82700 | NS      | $66601.85     | 0.31%             |  |  |  | No            |                  1 | On Loan: No      |
| Amoy Diagnostics Co Ltd                                  | AMOY DIAGNOSTICS CO LTD-A COMMON STOCK    | CUSIP: N/A<br>LEI: N/A                  | Long             | EC               |  | CN        |     15900 | NS      | $51309.03     | 0.24%             |  |  |  | No            |                  1 | On Loan: No      |
| Huadian Power International Corporation Limited          | HUADIAN POWER INTL CORP-A COMMON STOCK    | CUSIP: N/A<br>LEI: 529900207FCOKWBDRE79 | Long             | EC               |  | CN        |    282500 | NS      | $201746.08    | 0.93%             |  |  |  | No            |                  1 | On Loan: No      |
| Eoptolink Technology Inc Ltd                             | EOPTOLINK TECHNOLOGY INC L-A COMMON STOCK | CUSIP: N/A<br>LEI: N/A                  | Long             | EC               |  | CN        |      6580 | NS      | $337678.06    | 1.56%             |  |  |  | No            |                  1 | On Loan: No      |
| CITIC Securities Company Limited                         | CITIC SECURITIES CO-A COMMON STOCK        | CUSIP: N/A<br>LEI: 300300E1006744000068 | Long             | EC               |  | CN        |     57500 | NS      | $241216.99    | 1.11%             |  |  |  | No            |                  1 | On Loan: No      |
| Nanjing Gaoke Company Limited                            | NANJING GAOKE CO LTD-A COMMON STOCK       | CUSIP: N/A<br>LEI: 300300BSF28T0B8MFG73 | Long             | EC               |  | CN        |    112600 | NS      | $127333.39    | 0.59%             |  |  |  | No            |                  1 | On Loan: No      |
| Zijin Mining Group Company Limited                       | ZIJIN MINING GROUP CO LTD-A COMMON STOCK  | CUSIP: N/A<br>LEI: 836800JRNL2393Z2I561 | Long             | EC               |  | CN        |    147400 | NS      | $608841.37    | 2.80%             |  |  |  | No            |                  1 | On Loan: No      |
| Fujian Wanchen Biotechnology Group Co.,Ltd.              | FUJIAN WANCHEN BIOTECHNOLO-A COMMON STOCK | CUSIP: N/A<br>LEI: N/A                  | Long             | EC               |  | CN        |      2800 | NS      | $71302.30     | 0.33%             |  |  |  | No            |                  1 | On Loan: No      |
| Hithink RoyalFlush Information Network Co., Ltd.         | HITHINK ROYALFLUSH INFORMA-A COMMON STOCK | CUSIP: N/A<br>LEI: 300300TIQA4R0NPLQE78 | Long             | EC               |  | CN        |      4900 | NS      | $255587.31    | 1.18%             |  |  |  | No            |                  1 | On Loan: No      |
| GF Securities Co., Ltd.                                  | GF SECURITIES CO LTD-A COMMON STOCK       | CUSIP: N/A<br>LEI: 3003007E0Y3ZJ5HNA936 | Long             | EC               |  | CN        |    120300 | NS      | $376053.54    | 1.73%             |  |  |  | No            |                  1 | On Loan: No      |
| Inner Mongolia Yili Industrial Group Co., Ltd.           | INNER MONGOLIA YILI INDUS-A COMMON STOCK  | CUSIP: N/A<br>LEI: 3003002Q2A863JPQFH06 | Long             | EC               |  | CN        |     12800 | NS      | $48991.78     | 0.23%             |  |  |  | No            |                  1 | On Loan: No      |
| Rockchip Electronics Co Ltd                              | ROCKCHIP ELECTRONICS CO L-A COMMON STOCK  | CUSIP: N/A<br>LEI: 8368002HC3QUMAKOPK03 | Long             | EC               |  | CN        |     13500 | NS      | $427213.99    | 1.97%             |  |  |  | No            |                  1 | On Loan: No      |
| DEHUA TB NEW DECORATION MATERIAL CO.,LTD                 | DEHUA TB NEW DECORATION-A COMMON STOCK    | CUSIP: N/A<br>LEI: N/A                  | Long             | EC               |  | CN        |    242600 | NS      | $365564.44    | 1.68%             |  |  |  | No            |                  1 | On Loan: No      |
| Henan Shuanghui Investment & Development Co., Ltd.       | HENAN SHUANGHUI INVESTMENT-A COMMON STOCK | CUSIP: N/A<br>LEI: N/A                  | Long             | EC               |  | CN        |     78200 | NS      | $271440.92    | 1.25%             |  |  |  | No            |                  1 | On Loan: No      |
| Tsingtao Brewery Company Limited                         | TSINGTAO BREWERY CO LTD-A COMMON STOCK    | CUSIP: N/A<br>LEI: 300300OJ7D0Q1ESE8L15 | Long             | EC               |  | CN        |     26900 | NS      | $248793.11    | 1.15%             |  |  |  | No            |                  1 | On Loan: No      |
| DaShenLin Pharmaceutical Group Co., Ltd.                 | DASHENLIN PHARMACEUTICAL G-A COMMON STOCK | CUSIP: N/A<br>LEI: 300300TO4U1GUOTTHK82 | Long             | EC               |  | CN        |     53500 | NS      | $123777.96    | 0.57%             |  |  |  | No            |                  1 | On Loan: No      |
| Chongqing Rural Commercial Bank Co., Ltd.                | CHONGQING RURAL COMMERCIAL-A COMMON STOCK | CUSIP: N/A<br>LEI: 300300C1126750000027 | Long             | EC               |  | CN        |    192200 | NS      | $177708.28    | 0.82%             |  |  |  | No            |                  1 | On Loan: No      |
| Tonghua Dongbao Pharmaceutical Co., Ltd.                 | TONGHUA DONGBAO PHARMACEUT-A COMMON STOCK | CUSIP: N/A<br>LEI: N/A                  | Long             | EC               |  | CN        |    101900 | NS      | $118521.62    | 0.55%             |  |  |  | No            |                  1 | On Loan: No      |
| Three's Company Media Group Co Ltd                       | THREE'S CO MEDIA GROUP CO -A COMMON STOCK | CUSIP: N/A<br>LEI: 836800R28HNDMBSKM509 | Long             | EC               |  | CN        |     84300 | NS      | $363225.44    | 1.67%             |  |  |  | No            |                  1 | On Loan: No      |
| Jiangsu Suzhou Rural Commercial Bank Co., Ltd.           | JIANGSU SUZHOU RURAL COMME-A COMMON STOCK | CUSIP: N/A<br>LEI: 300300C1115832000030 | Long             | EC               |  | CN        |    201600 | NS      | $140577.49    | 0.65%             |  |  |  | No            |                  1 | On Loan: No      |
| Midea Group Co., Ltd.                                    | MIDEA GROUP CO LTD-A COMMON STOCK         | CUSIP: N/A<br>LEI: 3003003TRPHLHZD2IF61 | Long             | EC               |  | CN        |     72400 | NS      | $738078.96    | 3.40%             |  |  |  | No            |                  1 | On Loan: No      |
| SANY HEAVY INDUSTRY CO., LTD                             | SANY HEAVY INDUSTRY CO LTD-A COMMON STOCK | CUSIP: N/A<br>LEI: 3003001FS86S7NYOHV89 | Long             | EC               |  | CN        |     60600 | NS      | $197595.76    | 0.91%             |  |  |  | No            |                  1 | On Loan: No      |
| Kweichow Moutai Co., Ltd.                                | KWEICHOW MOUTAI CO LTD-A COMMON STOCK     | CUSIP: N/A<br>LEI: N/A                  | Long             | EC               |  | CN        |      2172 | NS      | $440040.73    | 2.03%             |  |  |  | No            |                  1 | On Loan: No      |
| ZHONGJIN GOLD CORP., LTD                                 | ZHONGJIN GOLD CORP-A COMMON STOCK         | CUSIP: N/A<br>LEI: 300300Q0ZK8HFP814Z87 | Long             | EC               |  | CN        |    130700 | NS      | $402145.38    | 1.85%             |  |  |  | No            |                  1 | On Loan: No      |
| Henan Thinker Automatic Equipment Co Ltd                 | HENAN THINKER AUTOMATIC EQ-A COMMON STOCK | CUSIP: N/A<br>LEI: N/A                  | Long             | EC               |  | CN        |     14600 | NS      | $68622.50     | 0.32%             |  |  |  | No            |                  1 | On Loan: No      |
| WuXi AppTec Co., Ltd.                                    | WUXI APPTEC CO LTD-A COMMON STOCK         | CUSIP: N/A<br>LEI: 254900OEPQLZSPLN9175 | Long             | EC               |  | CN        |     42500 | NS      | $668024.10    | 3.08%             |  |  |  | No            |                  1 | On Loan: No      |
| Contemporary Amperex Technology Co., Ltd.                | CONTEMPORARY AMPEREX TECHN-A COMMON STOCK | CUSIP: N/A<br>LEI: 300300KINDY1K0E9I032 | Long             | EC               |  | CN        |     27968 | NS      | $1577452.65   | 7.26%             |  |  |  | No            |                  1 | On Loan: No      |
| HISENSE HOME APPLIANCES GROUP CO., LTD.                  | HISENSE HOME APPLIANCES G-A COMMON STOCK  | CUSIP: N/A<br>LEI: 529900PRGESPUBUBN103 | Long             | EC               |  | CN        |     19000 | NS      | $69416.62     | 0.32%             |  |  |  | No            |                  1 | On Loan: No      |
| Haier Smart Home Co., Ltd.                               | HAIER SMART HOME CO LTD-A COMMON STOCK    | CUSIP: N/A<br>LEI: 3003002BYTNGNJTWSH07 | Long             | EC               |  | CN        |     81500 | NS      | $289642.09    | 1.33%             |  |  |  | No            |                  1 | On Loan: No      |
| Jiangsu Hengrui Pharmaceuticals Co.,Ltd                  | JIANGSU HENGRUI PHARMACEUT-A COMMON STOCK | CUSIP: N/A<br>LEI: 2549003BT1XS3SE3E448 | Long             | EC               |  | CN        |     70920 | NS      | $711946.29    | 3.28%             |  |  |  | No            |                  1 | On Loan: No      |
| Central China Land Media Co., Ltd.                       | CENTRAL CHINA LAND MEDIA-A COMMON STOCK   | CUSIP: N/A<br>LEI: N/A                  | Long             | EC               |  | CN        |    246000 | NS      | $407273.34    | 1.88%             |  |  |  | No            |                  1 | On Loan: No      |
| G-bits Network Technology Xiamen Co Ltd                  | G-BITS NETWORK TECHNOLOGY-A COMMON STOCK  | CUSIP: N/A<br>LEI: N/A                  | Long             | EC               |  | CN        |      6618 | NS      | $527404.66    | 2.43%             |  |  |  | No            |                  1 | On Loan: No      |
| Bank of Ningbo Co., Ltd.                                 | BANK OF NINGBO CO LTD -A COMMON STOCK     | CUSIP: N/A<br>LEI: 300300C1092133000091 | Long             | EC               |  | CN        |     43600 | NS      | $161678.59    | 0.74%             |  |  |  | No            |                  1 | On Loan: No      |
| Cambricon Technologies Corp Ltd                          | CAMBRICON TECHNOLOGIES-A COMMON STOCK     | CUSIP: N/A<br>LEI: N/A                  | Long             | EC               |  | CN        |      3600 | NS      | $669248.25    | 3.08%             |  |  |  | No            |                  1 | On Loan: No      |
| CHINA EVERBRIGHT BANK COMPANY LIMITED                    | CHINA EVERBRIGHT BANK CO-A COMMON STOCK   | CUSIP: N/A<br>LEI: 549300U6PKQ4H1P34E17 | Long             | EC               |  | CN        |    316900 | NS      | $149393.05    | 0.69%             |  |  |  | No            |                  1 | On Loan: No      |
| Hangzhou Binjiang Real Estate Group Co., Ltd             | HANGZHOU BINJIANG REAL EST-A COMMON STOCK | CUSIP: N/A<br>LEI: 300300W1Q832W2SP5417 | Long             | EC               |  | CN        |    207300 | NS      | $365015.99    | 1.68%             |  |  |  | No            |                  1 | On Loan: No      |
| Focus Media Information Technology Co., Ltd.             | FOCUS MEDIA INFORMATION TE-A COMMON STOCK | CUSIP: N/A<br>LEI: 300300V7WGZW0LZKTD06 | Long             | EC               |  | CN        |     43200 | NS      | $48852.60     | 0.22%             |  |  |  | No            |                  1 | On Loan: No      |
| Shenzhen Inovance Technology Co., Ltd                    | SHENZHEN INOVANCE TECHNOLO-A COMMON STOCK | CUSIP: N/A<br>LEI: N/A                  | Long             | EC               |  | CN        |      6700 | NS      | $78793.67     | 0.36%             |  |  |  | No            |                  1 | On Loan: No      |
| FUYAO GLASS INDUSTRY GROUP CO., LTD.                     | FUYAO GLASS INDUSTRY GROUP-A COMMON STOCK | CUSIP: N/A<br>LEI: 549300AS5CSLWETN0P64 | Long             | EC               |  | CN        |     53600 | NS      | $552063.30    | 2.54%             |  |  |  | No            |                  1 | On Loan: No      |
| Founder Securities Co., Ltd.                             | FOUNDER SECURITIES CO LTD-A COMMON STOCK  | CUSIP: N/A<br>LEI: 300300DSN6TINPUMGY45 | Long             | EC               |  | CN        |     74600 | NS      | $85198.53     | 0.39%             |  |  |  | No            |                  1 | On Loan: No      |
| BANK OF CHENGDU CO., LTD.                                | BANK OF CHENGDU CO LTD-A COMMON STOCK     | CUSIP: N/A<br>LEI: 30030030JPOKGL9K5418 | Long             | EC               |  | CN        |     79100 | NS      | $191440.78    | 0.88%             |  |  |  | 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