# EDGAR Filing Document

**Accession Number:** 0001593547
**File Stem:** 0001752724-25-160761
**Filing Date:** 2025-6
**Character Count:** 25984
**Document Hash:** 38afaa72ef13b117feefda25cffe8ee3
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001752724-25-160761.hdr.sgml**: 20250627

**ACCESSION NUMBER**: 0001752724-25-160761

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20250430

**FILED AS OF DATE**: 20250627

**DATE AS OF CHANGE**: 20250627

**PERIOD START**: 20250731

**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:** 251082546

**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

### CCT Thematic Equity Fund (Series ID: S000069656)

| Class ID   | Class Name           | Ticker Symbol   |
|:---|:---|:---|
| C000222147 | Institutional Shares | THMEX           |

## Nport-Ex

---

| | |
|:---|:---|
| **THE ADVISORS' INNER CIRCLE FUND III** | **CCT THEMATIC EQUITY FUND** |
|  | **APRIL 30, 2025** |
|  | **(Unaudited)** |

---

---

| | | |
|:---|:---|:---|
| **SCHEDULE OF INVESTMENTS**  | **SCHEDULE OF INVESTMENTS**  | **SCHEDULE OF INVESTMENTS**  |
| **COMMON STOCK — 95.7%** | **COMMON STOCK — 95.7%** | **COMMON STOCK — 95.7%** |
|  | **Shares** | **Value<br> (000)** |
| **BELGIUM — 2.0%** | **BELGIUM — 2.0%** | **BELGIUM — 2.0%** |
| **REAL ESTATE — 2.0%** | **REAL ESTATE — 2.0%** |  |
| &nbsp;&nbsp;&nbsp;VGP  | 13021 | $1201 |
|  |  | 1201 |
| **CANADA — 3.9%** | **CANADA — 3.9%** | **CANADA — 3.9%** |
| **MATERIALS — 3.9%** | **MATERIALS — 3.9%** |  |
| &nbsp;&nbsp;&nbsp;Franco-Nevada  | 13353 | 2294 |
|  |  | 2294 |
| **FRANCE — 5.2%** | **FRANCE — 5.2%** | **FRANCE — 5.2%** |
| **CONSUMER DISCRETIONARY — 2.1%** | **CONSUMER DISCRETIONARY — 2.1%** |  |
| &nbsp;&nbsp;&nbsp;Accor  | 25158 | 1230 |
| **CONSUMER STAPLES — 2.3%** | **CONSUMER STAPLES — 2.3%** |  |
| &nbsp;&nbsp;&nbsp;L'Oreal ADR  | 15686 | 1377 |
| **INDUSTRIALS — 0.8%** | **INDUSTRIALS — 0.8%** |  |
| &nbsp;&nbsp;&nbsp;Airbus ADR  | 10944 | 471 |
|  |  | 3078 |
| **HONG KONG — 2.0%** | **HONG KONG — 2.0%** | **HONG KONG — 2.0%** |
| **FINANCIALS — 2.0%** | **FINANCIALS — 2.0%** |  |
| &nbsp;&nbsp;&nbsp;AIA Group  | 159020 | 1191 |
|  |  | 1191 |
| **JAPAN — 6.0%** | **JAPAN — 6.0%** | **JAPAN — 6.0%** |
| **FINANCIALS — 4.0%** | **FINANCIALS — 4.0%** |  |
| &nbsp;&nbsp;&nbsp;Mitsubishi UFJ Financial Group ADR  | 116884 | 1478 |
| &nbsp;&nbsp;&nbsp;Sumitomo Mitsui Financial Group  | 38948 | 926 |
|  |  | 2404 |
| **INDUSTRIALS — 2.0%** | **INDUSTRIALS — 2.0%** |  |
| &nbsp;&nbsp;&nbsp;FANUC  | 45824 | 1171 |
|  |  | 3575 |
| **NETHERLANDS — 1.8%** | **NETHERLANDS — 1.8%** | **NETHERLANDS — 1.8%** |
| **INFORMATION TECHNOLOGY — 1.8%** | **INFORMATION TECHNOLOGY — 1.8%** |  |
| &nbsp;&nbsp;&nbsp;ASML Holding, Cl G  | 1554 | 1038 |
|  |  | 1038 |
| **SPAIN — 5.9%** | **SPAIN — 5.9%** | **SPAIN — 5.9%** |
| **CONSUMER DISCRETIONARY — 2.5%** | **CONSUMER DISCRETIONARY — 2.5%** |  |
| &nbsp;&nbsp;&nbsp;Industria de Diseno Textil  | 27754 | 1485 |

---

---

| | |
|:---|:---|
| **THE ADVISORS' INNER CIRCLE FUND III** | **CCT THEMATIC EQUITY FUND** |
|  | **APRIL 30, 2025** |
|  | **(Unaudited)** |

---

---

| | | | |
|:---|:---|:---|:---|
| **SCHEDULE OF INVESTMENTS**  | **SCHEDULE OF INVESTMENTS**  | **SCHEDULE OF INVESTMENTS**  | **SCHEDULE OF INVESTMENTS**  |
|  | **Shares** | **Value<br> (000)** | **Value<br> (000)** |
| **FINANCIALS — 3.4%** | **FINANCIALS — 3.4%** |  |  |
| &nbsp;&nbsp;&nbsp;Banco Santander ADR  | 284982 | $| 1995 |
|  |  |  | 3480 |
| **SWEDEN — 2.5%** | **SWEDEN — 2.5%** | **SWEDEN — 2.5%** | **SWEDEN — 2.5%** |
| **INDUSTRIALS — 2.5%** | **INDUSTRIALS — 2.5%** |  |  |
| &nbsp;&nbsp;&nbsp;Sandvik  | 71184 |  | 1474 |
|  |  |  | 1474 |
| **SWITZERLAND — 7.3%** | **SWITZERLAND — 7.3%** | **SWITZERLAND — 7.3%** | **SWITZERLAND — 7.3%** |
| **CONSUMER STAPLES — 1.9%** | **CONSUMER STAPLES — 1.9%** |  |  |
| &nbsp;&nbsp;&nbsp;Nestle ADR  | 10674 |  | 1138 |
| **HEALTH CARE — 2.3%** | **HEALTH CARE — 2.3%** |  |  |
| &nbsp;&nbsp;&nbsp;Novartis ADR  | 12175 |  | 1381 |
| **INDUSTRIALS — 3.1%** | **INDUSTRIALS — 3.1%** |  |  |
| &nbsp;&nbsp;&nbsp;ABB ADR  | 34897 |  | 1836 |
|  |  |  | 4355 |
| **UNITED KINGDOM — 4.8%** | **UNITED KINGDOM — 4.8%** | **UNITED KINGDOM — 4.8%** | **UNITED KINGDOM — 4.8%** |
| **ENERGY — 3.0%** | **ENERGY — 3.0%** |  |  |
| &nbsp;&nbsp;&nbsp;Shell PLC ADR  | 27812 |  | 1794 |
| **FINANCIALS — 1.8%** | **FINANCIALS — 1.8%** |  |  |
| &nbsp;&nbsp;&nbsp;London Stock Exchange Group PLC  | 6766 |  | 1048 |
|  |  |  | 2842 |
| **UNITED STATES — 54.3%** | **UNITED STATES — 54.3%** | **UNITED STATES — 54.3%** | **UNITED STATES — 54.3%** |
| **COMMUNICATION SERVICES — 3.9%** | **COMMUNICATION SERVICES — 3.9%** |  |  |
| &nbsp;&nbsp;&nbsp;Alphabet, Cl C  | 4832 |  | 778 |
| &nbsp;&nbsp;&nbsp;Verizon Communications  | 35435 |  | 1561 |
|  |  |  | 2339 |
| **CONSUMER DISCRETIONARY — 3.0%** | **CONSUMER DISCRETIONARY — 3.0%** |  |  |
| &nbsp;&nbsp;&nbsp;Amazon.com \* | 9709 |  | 1791 |
| **CONSUMER STAPLES — 2.7%** | **CONSUMER STAPLES — 2.7%** |  |  |
| &nbsp;&nbsp;&nbsp;Costco Wholesale  | 1578 |  | 1569 |
| **ENERGY — 2.8%** | **ENERGY — 2.8%** |  |  |
| &nbsp;&nbsp;&nbsp;EOG Resources  | 6158 |  | 680 |
| &nbsp;&nbsp;&nbsp;Schlumberger  | 28972 |  | 963 |
|  |  |  | 1643 |

---

---

| | |
|:---|:---|
| **THE ADVISORS' INNER CIRCLE FUND III** | **CCT THEMATIC EQUITY FUND** |
|  | **APRIL 30, 2025** |
|  | **(Unaudited)** |

---

---

| | | |
|:---|:---|:---|
| **SCHEDULE OF INVESTMENTS**  | **SCHEDULE OF INVESTMENTS**  | **SCHEDULE OF INVESTMENTS**  |
|  | **Shares** | **Value<br> (000)** |
| **FINANCIALS — 9.5%** | **FINANCIALS — 9.5%** |  |
| &nbsp;&nbsp;&nbsp;Berkshire Hathaway, Cl B \* | 2845 | $1517 |
| &nbsp;&nbsp;&nbsp;Goldman Sachs Group  | 3065 | 1678 |
| &nbsp;&nbsp;&nbsp;JPMorgan Chase  | 5395 | 1320 |
| &nbsp;&nbsp;&nbsp;Visa, Cl A  | 3228 | 1115 |
|  |  | 5630 |
| **HEALTH CARE — 9.4%** | **HEALTH CARE — 9.4%** |  |
| &nbsp;&nbsp;&nbsp;CareDx \* | 22213 | 375 |
| &nbsp;&nbsp;&nbsp;Illumina \* | 14206 | 1103 |
| &nbsp;&nbsp;&nbsp;Natera \* | 8588 | 1296 |
| &nbsp;&nbsp;&nbsp;Regeneron Pharmaceuticals  | 2487 | 1489 |
| &nbsp;&nbsp;&nbsp;Vertex Pharmaceuticals \* | 2509 | 1278 |
|  |  | 5541 |
| **INDUSTRIALS — 2.2%** | **INDUSTRIALS — 2.2%** |  |
| &nbsp;&nbsp;&nbsp;BWX Technologies  | 4748 | 518 |
| &nbsp;&nbsp;&nbsp;Kadant  | 2600 | 767 |
|  |  | 1285 |
| **INFORMATION TECHNOLOGY — 15.7%** | **INFORMATION TECHNOLOGY — 15.7%** |  |
| &nbsp;&nbsp;&nbsp;Apple  | 5917 | 1257 |
| &nbsp;&nbsp;&nbsp;Broadcom  | 3706 | 713 |
| &nbsp;&nbsp;&nbsp;Cadence Design Systems \* | 6207 | 1848 |
| &nbsp;&nbsp;&nbsp;Cognex  | 44259 | 1208 |
| &nbsp;&nbsp;&nbsp;Crowdstrike Holdings, Cl A \* | 1288 | 552 |
| &nbsp;&nbsp;&nbsp;Impinj \* | 11988 | 1105 |
| &nbsp;&nbsp;&nbsp;IonQ \* | 12125 | 333 |
| &nbsp;&nbsp;&nbsp;NVIDIA  | 13806 | 1504 |
| &nbsp;&nbsp;&nbsp;Snowflake, Cl A \* | 5358 | 855 |
|  |  | 9375 |
| **REAL ESTATE — 0.9%** | **REAL ESTATE — 0.9%** |  |
| &nbsp;&nbsp;&nbsp;Terreno Realty <sup>‡</sup> | 9055 | 510 |
| **UTILITIES — 4.2%** | **UTILITIES — 4.2%** |  |
| &nbsp;&nbsp;&nbsp;American Electric Power  | 15101 | 1636 |
| &nbsp;&nbsp;&nbsp;Atmos Energy  | 5335 | 857 |
|  |  | 2493 |
|  |  | 32176 |
| TOTAL COMMON STOCK  |  |  |
| &nbsp;&nbsp;&nbsp;(Cost $41,663)  |  | 56704 |
| TOTAL INVESTMENTS— 95.7% |  |  |
| &nbsp;&nbsp;&nbsp;(Cost $41,663)  | &nbsp;&nbsp;&nbsp;(Cost $41,663)  | $56704 |

---

---

| | |
|:---|:---|
| **THE ADVISORS' INNER CIRCLE FUND III** | **CCT THEMATIC EQUITY FUND** |
|  | **APRIL 30, 2025** |
|  | **(Unaudited)** |

---

---

| | |
|:---|:---|
|  | Percentages are based on Net Assets of $59,244 (000). |
| \* | Non-income producing security. |
| <sup>‡</sup> | Real Estate Investment Trust. |

---

ADR — American Depositary Receipt <br> Cl — Class <br> PLC — Public Limited Company

CCT-QH-001-1000

## 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:** CCT Thematic Equity Fund

- **b. EDGAR series identifier (if any):** S000069656

- **c. LEI of Series:** 549300SCJYWF4YNVU165

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

- **a. Date of fiscal year-end:** 2025-07-31

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

**Item A.4. Final filing**

Does the Fund anticipate that this will be its final filing on Form N-PORT? **No**

### Fund Information

**Total Assets:** $59334589.55

**Total Liabilities:** $89034.56

**Net Assets:** $59245554.99

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000222147 | 0.65%                | -3.47%               | -1.50%               |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $699813.82               | $-497085.39                                |
| Month 2  | $-36306.52               | $-2587385.90                               |
| Month 3  | $229798.97               | $-1445398.20                               |

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| APPLE INC.                            | APPLE INC COMMON STOCK                          | CUSIP: 037833100<br>LEI: HWUPKR0MPOU8FGXBT394 | Long             | EC               |  | US        |      5917 | NS      | $1257362.50   | 2.12%             |  |  |  | No            |                  1 | On Loan: No      |
| KADANT INC.                           | KADANT INC COMMON STOCK                         | CUSIP: 48282T104<br>LEI: 549300K06LNJYBMPYP15 | Long             | EC               |  | US        |      2600 | NS      | $767000.00    | 1.29%             |  |  |  | No            |                  1 | On Loan: No      |
| Airbus SE                             | AIRBUS SE - UNSP ADR DEPOSITARY RECEIPT         | CUSIP: 009279100<br>LEI: MINO79WLOO247M1IL051 | Long             | EC               |  | US        |     10944 | NS      | $471358.08    | 0.80%             |  |  |  | No            |                  1 | On Loan: No      |
| Schlumberger N.V.                     | SCHLUMBERGER LTD COMMON STOCK                   | CUSIP: 806857108<br>LEI: 213800ZUA17OK3QLGM62 | Long             | EC               |  | US        |     28972 | NS      | $963319.00    | 1.63%             |  |  |  | No            |                  1 | On Loan: No      |
| CAREDX, INC.                          | CAREDX INC COMMON STOCK                         | CUSIP: 14167L103<br>LEI: 549300NQOFKL9NON0U06 | Long             | EC               |  | US        |     22213 | NS      | $374955.44    | 0.63%             |  |  |  | No            |                  1 | On Loan: No      |
| COGNEX CORPORATION                    | COGNEX CORP COMMON STOCK                        | CUSIP: 192422103<br>LEI: 549300JQTYZCLC43S226 | Long             | EC               |  | US        |     44259 | NS      | $1208270.70   | 2.04%             |  |  |  | No            |                  1 | On Loan: No      |
| BROADCOM INC.                         | BROADCOM INC COMMON STOCK                       | CUSIP: 11135F101<br>LEI: 549300WV6GIDOZJTV909 | Long             | EC               |  | US        |      3706 | NS      | $713293.82    | 1.20%             |  |  |  | No            |                  1 | On Loan: No      |
| TERRENO REALTY CORPORATION            | TERRENO REALTY CORP REIT                        | CUSIP: 88146M101<br>LEI: N/A                  | Long             | EC               |  | US        |      9055 | NS      | $510068.15    | 0.86%             |  |  |  | No            |                  1 | On Loan: No      |
| L'OREAL SA                            | L'OREAL-UNSPONSORED ADR DEPOSITARY RECEIPT      | CUSIP: 502117203<br>LEI: 529900JI1GG6F7RKVI53 | Long             | EC               |  | US        |     15686 | NS      | $1377230.80   | 2.32%             |  |  |  | No            |                  1 | On Loan: No      |
| Sumitomo Mitsui Financial Group, Inc. | SUMITOMO MITSUI FINANCIAL GR COMMON STOCK       | CUSIP: N/A<br>LEI: 35380028MYWPB6AUO129       | Long             | EC               |  | JP        |     39850 | NS      | $947615.05    | 1.60%             |  |  |  | No            |                  1 | On Loan: No      |
| VISA INC.                             | VISA INC-CLASS A SHARES COMMON STOCK            | CUSIP: 92826C839<br>LEI: 549300JZ4OKEHW3DPJ59 | Long             | EC               |  | US        |      3228 | NS      | $1115274.00   | 1.88%             |  |  |  | No            |                  1 | On Loan: No      |
| ACCOR SA                              | ACCOR SA COMMON STOCK                           | CUSIP: N/A<br>LEI: 969500QZC2Q0TK11NV07       | Long             | EC               |  | FR        |     25158 | NS      | $1229784.53   | 2.08%             |  |  |  | No            |                  1 | On Loan: No      |
| AMERICAN ELECTRIC POWER COMPANY, INC. | AMERICAN ELECTRIC POWER COMMON STOCK            | CUSIP: 025537101<br>LEI: 1B4S6S7G0TW5EE83BO58 | Long             | EC               |  | US        |     15101 | NS      | $1636042.34   | 2.76%             |  |  |  | No            |                  1 | On Loan: No      |
| Sandvik Aktiebolag                    | SANDVIK AB COMMON STOCK                         | CUSIP: N/A<br>LEI: 5299008ZUAXN43LVZF54       | Long             | EC               |  | SE        |     71184 | NS      | $1473686.66   | 2.49%             |  |  |  | No            |                  1 | On Loan: No      |
| FANUC CORPORATION                     | FANUC CORP COMMON STOCK                         | CUSIP: N/A<br>LEI: 529900QTSW745LOKW705       | Long             | EC               |  | JP        |     46670 | NS      | $1192699.54   | 2.01%             |  |  |  | No            |                  1 | On Loan: No      |
| REGENERON PHARMACEUTICALS, INC.       | REGENERON PHARMACEUTICALS COMMON STOCK          | CUSIP: 75886F107<br>LEI: 549300RCBFWIRX3HYQ56 | Long             | EC               |  | US        |      2487 | NS      | $1489116.12   | 2.51%             |  |  |  | No            |                  1 | On Loan: No      |
| Industria de Diseno Textil, S.A.      | INDUSTRIA DE DISENO TEXTIL COMMON STOCK         | CUSIP: E6282N100<br>LEI: 549300TTCXZOGZM2EY83 | Long             | EC               |  | ES        |     27754 | NS      | $1485277.45   | 2.51%             |  |  |  | No            |                  1 | On Loan: No      |
| N/A                                   | BROWN BROTHERS HARRIMAN SWEEP INTEREST          | CUSIP: N/A<br>LEI: N/A                        | Long             | STIV             |  | US        |   2316521 | PA      | $2316520.57   | 3.91%             |  |  |  | No            |                  1 | On Loan: No      |
| SHELL PLC                             | SHELL PLC-ADR DEPOSITARY RECEIPT                | CUSIP: 780259305<br>LEI: 21380068P1DRHMJ8KU70 | Long             | EC               |  | US        |     27812 | NS      | $1793317.76   | 3.03%             |  |  |  | No            |                  1 | On Loan: No      |
| BERKSHIRE HATHAWAY INC.               | BERKSHIRE HATHAWAY INC-CL B COMMON STOCK        | CUSIP: 084670702<br>LEI: 5493000C01ZX7D35SD85 | Long             | EC               |  | US        |      2845 | NS      | $1517096.25   | 2.56%             |  |  |  | No            |                  1 | On Loan: No      |
| Banco Santander, S.A.                 | BANCO SANTANDER SA-SPON ADR DEPOSITARY RECEIPT  | CUSIP: 05964H105<br>LEI: 5493006QMFDDMYWIAM13 | Long             | EC               |  | US        |    284982 | NS      | $1994874.00   | 3.37%             |  |  |  | No            |                  1 | On Loan: No      |
| VERTEX PHARMACEUTICALS INCORPORATED   | VERTEX PHARMACEUTICALS INC COMMON STOCK         | CUSIP: 92532F100<br>LEI: 54930015RAQRRZ5ZGJ91 | Long             | EC               |  | US        |      2509 | NS      | $1278335.50   | 2.16%             |  |  |  | No            |                  1 | On Loan: No      |
| COSTCO WHOLESALE CORPORATION          | COSTCO WHOLESALE CORP COMMON STOCK              | CUSIP: 22160K105<br>LEI: 29DX7H14B9S6O3FD6V18 | Long             | EC               |  | US        |      1578 | NS      | $1569321.00   | 2.65%             |  |  |  | No            |                  1 | On Loan: No      |
| CROWDSTRIKE HOLDINGS, INC.            | CROWDSTRIKE HOLDINGS INC - A COMMON STOCK       | CUSIP: 22788C105<br>LEI: 549300YBY08K9KM4HX32 | Long             | EC               |  | US        |      1288 | NS      | $552384.56    | 0.93%             |  |  |  | No            |                  1 | On Loan: No      |
| ILLUMINA, INC.                        | ILLUMINA INC COMMON STOCK                       | CUSIP: 452327109<br>LEI: SQ95QG8SR5Q56LSNF682 | Long             | EC               |  | US        |     14206 | NS      | $1102385.60   | 1.86%             |  |  |  | No            |                  1 | On Loan: No      |
| ABB Ltd                               | ABB LTD-SPON ADR DEPOSITARY RECEIPT             | CUSIP: 000375204<br>LEI: 5493000LKVGOO9PELI61 | Long             | EC               |  | US        |     34897 | NS      | $1835931.17   | 3.10%             |  |  |  | No            |                  1 | On Loan: No      |
| BWX TECHNOLOGIES, INC.                | BWX TECHNOLOGIES INC COMMON STOCK               | CUSIP: 05605H100<br>LEI: 549300NP85N265KWMS58 | Long             | EC               |  | US        |      4748 | NS      | $518101.76    | 0.87%             |  |  |  | No            |                  1 | On Loan: No      |
| AIA Group Limited                     | AIA GROUP LTD COMMON STOCK                      | CUSIP: N/A<br>LEI: ZP5ILWVSYE4LJGMMVD57       | Long             | EC               |  | HK        |    159020 | NS      | $1191276.24   | 2.01%             |  |  |  | No            |                  1 | On Loan: No      |
| THE GOLDMAN SACHS GROUP, INC.         | GOLDMAN SACHS GROUP INC COMMON STOCK            | CUSIP: 38141G104<br>LEI: 784F5XWPLTWKTBV3E584 | Long             | EC               |  | US        |      3065 | NS      | $1678240.75   | 2.83%             |  |  |  | No            |                  1 | On Loan: No      |
| EOG RESOURCES, INC.                   | EOG RESOURCES INC COMMON STOCK                  | CUSIP: 26875P101<br>LEI: XWTZDRYZPBUHIQBKDB46 | Long             | EC               |  | US        |      6158 | NS      | $679412.14    | 1.15%             |  |  |  | No            |                  1 | On Loan: No      |
| NATERA, INC.                          | NATERA INC COMMON STOCK                         | CUSIP: 632307104<br>LEI: N/A                  | Long             | EC               |  | US        |      8588 | NS      | $1296186.84   | 2.19%             |  |  |  | No            |                  1 | On Loan: No      |
| Mitsubishi UFJ Financial Group, Inc.  | MITSUBISHI UFJ FINL-SPON ADR DEPOSITARY RECEIPT | CUSIP: 606822104<br>LEI: 353800V2V8PUY9TK3E06 | Long             | EC               |  | US        |    116884 | NS      | $1477413.76   | 2.49%             |  |  |  | No            |                  1 | On Loan: No      |
| VERIZON COMMUNICATIONS INC.           | VERIZON COMMUNICATIONS INC COMMON STOCK         | CUSIP: 92343V104<br>LEI: 2S72QS2UO2OESLG6Y829 | Long             | EC               |  | US        |     35435 | NS      | $1561266.10   | 2.64%             |  |  |  | No            |                  1 | On Loan: No      |
| VGP NV                                | VGP COMMON STOCK                                | CUSIP: N/A<br>LEI: 315700NENYPIXFR94T49       | Long             | EC               |  | BE        |     12222 | NS      | $1127038.62   | 1.90%             |  |  |  | No            |                  1 | On Loan: No      |
| NVIDIA CORPORATION                    | NVIDIA CORP COMMON STOCK                        | CUSIP: 67066G104<br>LEI: 549300S4KLFTLO7GSQ80 | Long             | EC               |  | US        |     13806 | NS      | $1503749.52   | 2.54%             |  |  |  | No            |                  1 | On Loan: No      |
| Novartis AG                           | NOVARTIS AG-SPONSORED ADR DEPOSITARY RECEIPT    | CUSIP: 66987V109<br>LEI: 5493007HIVTX6SY6XD66 | Long             | EC               |  | US        |     12175 | NS      | $1381740.75   | 2.33%             |  |  |  | No            |                  1 | On Loan: No      |
| CADENCE DESIGN SYSTEMS, INC.          | CADENCE DESIGN SYS INC COMMON STOCK             | CUSIP: 127387108<br>LEI: GCT7RXJOGLXPV0NXZY22 | Long             | EC               |  | US        |      6207 | NS      | $1848072.18   | 3.12%             |  |  |  | No            |                  1 | On Loan: No      |
| AMAZON.COM, INC.                      | AMAZON.COM INC COMMON STOCK                     | CUSIP: 023135106<br>LEI: ZXTILKJKG63JELOEG630 | Long             | EC               |  | US        |      9709 | NS      | $1790533.78   | 3.02%             |  |  |  | No            |                  1 | On Loan: No      |
| IMPINJ, INC.                          | IMPINJ INC COMMON STOCK                         | CUSIP: 453204109<br>LEI: 549300M26VGKSMMWWN17 | Long             | EC               |  | US        |     11988 | NS      | $1104454.44   | 1.86%             |  |  |  | No            |                  1 | On Loan: No      |
| LONDON STOCK EXCHANGE GROUP PLC       | LONDON STOCK EXCHANGE GROUP COMMON STOCK        | CUSIP: N/A<br>LEI: 213800QAUUUP6I445N30       | Long             | EC               |  | GB        |      6766 | NS      | $1048226.85   | 1.77%             |  |  |  | No            |                  1 | On Loan: No      |
| ASML Holding N.V.                     | ASML HOLDING NV-NY REG SHS DEPOSITARY RECEIPT   | CUSIP: N07059210<br>LEI: 724500Y6DUVHQD6OXN27 | Long             | EC               |  | US        |      1554 | NS      | $1038196.32   | 1.75%             |  |  |  | No            |                  1 | On Loan: No      |
| Franco-Nevada Corporation             | FRANCO-NEVADA CORP COMMON STOCK                 | CUSIP: 351858105<br>LEI: 98450064C1B5D3E94864 | Long             | EC               |  | US        |     13353 | NS      | $2293778.34   | 3.87%             |  |  |  | No            |                  1 | On Loan: No      |
| JPMORGAN CHASE & CO.                  | JPMORGAN CHASE & CO COMMON STOCK                | CUSIP: 46625H100<br>LEI: 8I5DZWZKVSZI1NUHU748 | Long             | EC               |  | US        |      5395 | NS      | $1319724.90   | 2.23%             |  |  |  | No            |                  1 | On Loan: No      |
| Nestle S.A.                           | NESTLE SA-SPONS ADR DEPOSITARY RECEIPT          | CUSIP: 641069406<br>LEI: KY37LUS27QQX7BB93L28 | Long             | EC               |  | US        |     10674 | NS      | $1137741.66   | 1.92%             |  |  |  | No            |                  1 | On Loan: No      |
| SNOWFLAKE INC.                        | SNOWFLAKE INC-CLASS A COMMON STOCK              | CUSIP: 833445109<br>LEI: 254900CJNSY1K7T53Z16 | Long             | EC               |  | US        |      5358 | NS      | $854547.42    | 1.44%             |  |  |  | No            |                  1 | On Loan: No      |
| IONQ Inc                              | IONQ INC COMMON STOCK                           | CUSIP: 46222L108<br>LEI: N/A                  | Long             | EC               |  | US        |     12125 | NS      | $332952.50    | 0.56%             |  |  |  | No            |                  1 | On Loan: No      |
| ATMOS ENERGY CORPORATION              | ATMOS ENERGY CORP COMMON STOCK                  | CUSIP: 049560105<br>LEI: QVLWEGTD2S8GJMO8D383 | Long             | EC               |  | US        |      5335 | NS      | $856961.05    | 1.45%             |  |  |  | No            |                  1 | On Loan: No      |
| ALPHABET INC.                         | ALPHABET INC-CL C COMMON STOCK                  | CUSIP: 02079K107<br>LEI: 5493006MHB84DD0ZWV18 | Long             | EC               |  | US        |      4832 | NS      | $777420.48    | 1.31%             |  |  |  | No            |                  1 | On Loan: No      |

### Signature

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

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

**Signature:** Andrew Metzger

**Name of Signer:** Andrew Metzger

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