# EDGAR Filing Document

**Accession Number:** 0001593547
**File Stem:** 0002048251-25-002888
**Filing Date:** 2025-11
**Character Count:** 15738
**Document Hash:** e8138092c65512f841df6ce303f23cc5
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0002048251-25-002888.hdr.sgml**: 20251128

**ACCESSION NUMBER**: 0002048251-25-002888

**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:** 251533229

**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

### Redwheel Next Generation Power Infrastructure Fund (Series ID: S000087882)

| Class ID   | Class Name          | Ticker Symbol   |
|:---|:---|:---|
| C000253897 | A Class             | ECOAX           |
| C000253898 | Institutional Class | ECOIX           |

## 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:** Redwheel Next Generation Power Infrastructure Fund

- **b. EDGAR series identifier (if any):** S000087882

- **c. LEI of Series:** 529900147OS98H2Z7O29

**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:** $219435288.32

**Total Liabilities:** $3204058.03

**Net Assets:** $216231230.29

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000253898 | 3.24%                | -1.32%               | 1.63%                |
| Class ID C000253897 | -2.44%               | -6.79%               | -4.08%               |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $281165.04               | $6147743.99                                |
| Month 2  | $-569325.90              | $-2357477.26                               |
| Month 3  | $3753486.84              | $-1051096.78                               |

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| SWISS FRANC                                         | FX Forward Contract: CHF/USD SETTLE 2025-10-01 | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | CH        |         1 | NC      | $270.54       | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| CHINA LONGYUAN POWER GROUP CORPORATION LIMITED      | CHINA LONGYUAN POWER GROUP-H COMMON STOCK      | CUSIP: N/A<br>LEI: 5299008UYLF3O6V9T464       | Long             | EC               |  | HK        |   5941898 | NS      | $6340643.77   | 2.93%             |  |  |  | No            |                  1 | On Loan: No      |
| Dominion Energy, Inc.                               | DOMINION ENERGY INC COMMON STOCK               | CUSIP: 25746U109<br>LEI: ILUL7B6Z54MRYCF6H308 | Long             | EC               |  | US        |    190334 | NS      | $11642730.78  | 5.38%             |  |  |  | No            |                  1 | On Loan: No      |
| SSE PLC                                             | SSE PLC COMMON STOCK                           | CUSIP: N/A<br>LEI: 549300KI75VYLLMSK856       | Long             | EC               |  | GB        |    342361 | NS      | $8038423.80   | 3.72%             |  |  |  | No            |                  1 | On Loan: No      |
| EXELON CORPORATION                                  | EXELON CORP COMMON STOCK                       | CUSIP: 30161N101<br>LEI: 3SOUA6IRML7435B56G12 | Long             | EC               |  | US        |    197393 | NS      | $8884658.93   | 4.11%             |  |  |  | No            |                  1 | On Loan: No      |
| ENEL - SPA                                          | ENEL SPA COMMON STOCK                          | CUSIP: N/A<br>LEI: WOCMU6HCI0OJWNPRZS33       | Long             | EC               |  | IT        |   1028288 | NS      | $9752541.91   | 4.51%             |  |  |  | No            |                  1 | On Loan: No      |
| ORMAT TECHNOLOGIES, INC.                            | ORMAT TECHNOLOGIES INC COMMON STOCK            | CUSIP: 686688102<br>LEI: 5493000TSHHWY24VHM09 | Long             | EC               |  | US        |     75523 | NS      | $7269088.75   | 3.36%             |  |  |  | No            |                  1 | On Loan: No      |
| NEXTERA ENERGY, INC.                                | NEXTERA ENERGY INC COMMON STOCK                | CUSIP: 65339F101<br>LEI: 254900RHL9MEUS5NKX63 | Long             | EC               |  | US        |    133799 | NS      | $10100486.51  | 4.67%             |  |  |  | No            |                  1 | On Loan: No      |
| CONSTELLATION ENERGY CORPORATION.                   | CONSTELLATION ENERGY COMMON STOCK              | CUSIP: 21037T109<br>LEI: 549300F8Y20RYGNGV346 | Long             | EC               |  | US        |     33102 | NS      | $10892875.14  | 5.04%             |  |  |  | No            |                  1 | On Loan: No      |
| BKW AG                                              | BKW AG COMMON STOCK                            | CUSIP: N/A<br>LEI: 549300IE30SKTUO98Q38       | Long             | EC               |  | CH        |     49791 | NS      | $10684488.52  | 4.94%             |  |  |  | No            |                  1 | On Loan: No      |
| DRAX GROUP PLC                                      | DRAX GROUP PLC COMMON STOCK                    | CUSIP: N/A<br>LEI: 549300YPSNTXR4ZHSR98       | Long             | EC               |  | GB        |    619865 | NS      | $5851896.12   | 2.71%             |  |  |  | No            |                  1 | On Loan: No      |
| EDP Renovaveis, S.A.                                | EDP RENOVAVEIS SA COMMON STOCK                 | CUSIP: N/A<br>LEI: 529900MUFAH07Q1TAX06       | Long             | EC               |  | PT        |    867973 | NS      | $11480945.44  | 5.31%             |  |  |  | No            |                  1 | On Loan: No      |
| TERNA - RETE ELETTRICA NAZIONALE SOCIETA PER AZIONI | TERNA-RETE ELETTRICA NAZIONA COMMON STOCK      | CUSIP: N/A<br>LEI: 8156009E94ED54DE7C31       | Long             | EC               |  | IT        |    214750 | NS      | $2181161.39   | 1.01%             |  |  |  | No            |                  1 | On Loan: No      |
| GREENCOAT UK WIND PLC                               | GREENCOAT UK WIND PLC MUTUAL FUND              | CUSIP: N/A<br>LEI: 213800ZPBBK8H51RX165       | Long             | EC               |  | GB        |   2465733 | NS      | $3712305.76   | 1.72%             |  |  |  | No            |                  1 | On Loan: No      |
| ALGONQUIN POWER & UTILITIES CORP.                   | ALGONQUIN POWER & UTILITIES COMMON STOCK       | CUSIP: N/A<br>LEI: 549300K5VIUTJXQL7X75       | Long             | EC               |  | US        |   1397088 | NS      | $7502362.56   | 3.47%             |  |  |  | No            |                  1 | On Loan: No      |
| RENOVA, Inc.                                        | RENOVA INC COMMON STOCK                        | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               |  | JP        |    998905 | NS      | $6345110.20   | 2.93%             |  |  |  | No            |                  1 | On Loan: No      |
| ELIA GROUP SA                                       | ELIA GROUP SA/NV COMMON STOCK                  | CUSIP: N/A<br>LEI: 549300S1MP1NFDIKT460       | Long             | EC               |  | BE        |     37997 | NS      | $4393405.02   | 2.03%             |  |  |  | No            |                  1 | On Loan: No      |
| RENEW ENERGY GLOBAL PLC                             | RENEW ENERGY GLOBAL PLC-A COMMON STOCK         | CUSIP: G7500M104<br>LEI: 254900SL77LA2KAG7R65 | Long             | EC               |  | US        |   1811578 | NS      | $13949150.60  | 6.45%             |  |  |  | No            |                  1 | On Loan: No      |
| CANADIAN DOLLAR                                     | FX Forward Contract: CAD/USD SETTLE 2025-10-01 | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | CA        |         1 | NC      | $61.09        | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| N/A                                                 | BROWN BROTHERS HARRIMAN SWEEP INTEREST         | CUSIP: N/A<br>LEI: N/A                        | Long             | STIV             |  | US        |   6829671 | PA      | $6829670.78   | 3.16%             |  |  |  | No            |                  1 | On Loan: No      |
| CLEARWAY ENERGY, INC.                               | CLEARWAY ENERGY INC-C COMMON STOCK             | CUSIP: 18539C204<br>LEI: 549300LHAZ9HA9G3XC48 | Long             | EC               |  | US        |    413593 | NS      | $11684002.25  | 5.40%             |  |  |  | No            |                  1 | On Loan: No      |
| AVISTA CORPORATION                                  | AVISTA CORP COMMON STOCK                       | CUSIP: 05379B107<br>LEI: Q0IK63NITJD6RJ47SW96 | Long             | EC               |  | US        |    237433 | NS      | $8977341.73   | 4.15%             |  |  |  | No            |                  1 | On Loan: No      |
| E.ON SE                                             | E.ON SE COMMON STOCK                           | CUSIP: N/A<br>LEI: Q9MAIUP40P25UFBFG033       | Long             | EC               |  | DE        |    117172 | NS      | $2208784.86   | 1.02%             |  |  |  | No            |                  1 | On Loan: No      |
| China Suntien Green Energy Corporation Limited      | CHINA SUNTIEN GREEN ENERGY-H COMMON STOCK      | CUSIP: N/A<br>LEI: 529900JAYC5BYZPWOK13       | Long             | EC               |  | HK        |   6149782 | NS      | $3361350.98   | 1.55%             |  |  |  | No            |                  1 | On Loan: No      |
| PUBLIC SERVICE ENTERPRISE GROUP INCORPORATED        | PUBLIC SERVICE ENTERPRISE GP COMMON STOCK      | CUSIP: 744573106<br>LEI: PUSS41EMO3E6XXNV3U28 | Long             | EC               |  | US        |     98047 | NS      | $8183002.62   | 3.78%             |  |  |  | No            |                  1 | On Loan: No      |
| BRITISH STERLING POUND                              | FX Forward Contract: GBP/USD SETTLE 2025-10-01 | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | GB        |         1 | NC      | $222.89       | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| EURO                                                | FX Forward Contract: EUR/USD SETTLE 2025-10-01 | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | XX        |         1 | NC      | $650.56       | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| ERG S.P.A.                                          | ERG SPA COMMON STOCK                           | CUSIP: N/A<br>LEI: 8156004604684CA44A90       | Long             | EC               |  | IT        |    430501 | NS      | $10638390.11  | 4.92%             |  |  |  | No            |                  1 | On Loan: No      |
| NATIONAL GRID PLC                                   | NATIONAL GRID PLC COMMON STOCK                 | CUSIP: N/A<br>LEI: 8R95QZMKZLJX5Q2XR704       | Long             | EC               |  | GB        |    308537 | NS      | $4437741.09   | 2.05%             |  |  |  | No            |                  1 | On Loan: No      |
| BRITISH STERLING POUND                              | FX Forward Contract: GBP/USD SETTLE 2025-10-01 | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | GB        |         1 | NC      | $578.88       | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| XINYI ENERGY HOLDINGS LIMITED                       | XINYI ENERGY HOLDINGS LTD COMMON STOCK         | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               |  | HK        |   8420780 | NS      | $1386455.62   | 0.64%             |  |  |  | No            |                  1 | On Loan: No      |
| EDP, S.A.                                           | EDP SA COMMON STOCK                            | CUSIP: N/A<br>LEI: 529900CLC3WDMGI9VH80       | Long             | EC               |  | PT        |    474989 | NS      | $2256115.70   | 1.04%             |  |  |  | No            |                  1 | On Loan: No      |
| SUNRUN INC.                                         | SUNRUN INC COMMON STOCK                        | CUSIP: 86771W105<br>LEI: 54930007SJ77CI66U531 | Long             | EC               |  | US        |    240457 | NS      | $4157501.53   | 1.92%             |  |  |  | No            |                  1 | On Loan: No      |
| Iberdrola, S.A.                                     | IBERDROLA SA COMMON STOCK                      | CUSIP: N/A<br>LEI: 5QK37QC7NWOJ8D7WVQ45       | Long             | EC               |  | ES        |    351834 | NS      | $6665402.65   | 3.08%             |  |  |  | No            |                  1 | On Loan: No      |
| NORTHLAND POWER INC                                 | NORTHLAND POWER INC COMMON STOCK               | CUSIP: 666511100<br>LEI: 8945002IJ77NEBK48M81 | Long             | EC               |  | CA        |    381728 | NS      | $6392311.63   | 2.96%             |  |  |  | No            |                  1 | On Loan: No      |
| EURO                                                | FX Forward Contract: EUR/USD SETTLE 2025-10-01 | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | XX        |         1 | NC      | $752.99       | 0.00%             |  |  |  | No            |                  2 | 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