# EDGAR Filing Document

**Accession Number:** 0001593547
**File Stem:** 0002048251-26-004247
**Filing Date:** 2026-5
**Character Count:** 21930
**Document Hash:** 85d703afc473b1665ee04da31aa16953
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0002048251-26-004247.hdr.sgml**: 20260528

**ACCESSION NUMBER**: 0002048251-26-004247

**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**: 20260331

**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:** 261029187

**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

### GQG PARTNERS GLOBAL QUALITY EQUITY FUND (Series ID: S000065108)

| Class ID   | Class Name           | Ticker Symbol   |
|:---|:---|:---|
| C000210819 | R6 Shares            | GQRRX           |
| C000210820 | Institutional Shares | GQRIX           |
| C000210821 | Investor Shares      | GQRPX           |

## 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:** GQG PARTNERS GLOBAL QUALITY EQUITY FUND

- **b. EDGAR series identifier (if any):** S000065108

- **c. LEI of Series:** 549300ZNFVN23WY4X902

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

- **a. Date of fiscal year-end:** 2026-03-31

- **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:** $3161242646.47

**Total Liabilities:** $11826014.57

**Net Assets:** $3149416631.90

**Cash Not Reported:** $648.94

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000210819 | -3.35%               | 7.71%                | 3.62%                |
| Class ID C000210820 | -3.35%               | 7.71%                | 3.62%                |
| Class ID C000210821 | -3.36%               | 7.68%                | 3.57%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $12290222.84             | $-133608018.12                             |
| Month 2  | $4362354.36              | $226694093.74                              |
| Month 3  | $218982.93               | $95830986.53                               |

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| ITC LIMITED                                 | ITC LTD COMMON STOCK                               | CUSIP: N/A<br>LEI: 335800WLOU3OFWFTMP43       | Long             | EC               |  | IN        |   8142014 | NS      | $24879732.42  | 0.79%             |  |  |  | No            |                  1 | On Loan: No      |
| ENEL - SPA                                  | ENEL SPA COMMON STOCK                              | CUSIP: N/A<br>LEI: WOCMU6HCI0OJWNPRZS33       | Long             | EC               |  | IT        |   4124203 | NS      | $44947079.21  | 1.43%             |  |  |  | No            |                  1 | On Loan: No      |
| SANOFI SA                                   | SANOFI COMMON STOCK                                | CUSIP: N/A<br>LEI: 549300E9PC51EN656011       | Long             | EC               |  | FR        |    218751 | NS      | $21058156.14  | 0.67%             |  |  |  | No            |                  1 | On Loan: No      |
| AT&T INC.                                   | AT&T INC COMMON STOCK                              | CUSIP: 00206R102<br>LEI: 549300Z40J86GGSTL398 | Long             | EC               |  | US        |   4594632 | NS      | $133198381.70 | 4.23%             |  |  |  | No            |                  1 | On Loan: No      |
| Suncor Energy Inc.                          | SUNCOR ENERGY INC COMMON STOCK                     | CUSIP: 867224107<br>LEI: 894500XO86FKXQGPYV71 | Long             | EC               |  | CA        |    467710 | NS      | $30836585.65  | 0.98%             |  |  |  | No            |                  1 | On Loan: No      |
| EXXON MOBIL CORPORATION                     | EXXON MOBIL CORP COMMON STOCK                      | CUSIP: 30231G102<br>LEI: J3WHBG0MTS7O8ZVMDC91 | Long             | EC               |  | US        |    426765 | NS      | $72404949.90  | 2.30%             |  |  |  | No            |                  1 | On Loan: No      |
| ICICI BANK LIMITED                          | ICICI BANK LTD COMMON STOCK                        | CUSIP: Y3860Z132<br>LEI: R7RX8ER1V4666J8D1I38 | Long             | EC               |  | IN        |    249550 | NS      | $3203536.67   | 0.10%             |  |  |  | No            |                  1 | On Loan: No      |
| DEVON ENERGY CORPORATION                    | DEVON ENERGY CORP COMMON STOCK                     | CUSIP: 25179M103<br>LEI: 54930042348RKR3ZPN35 | Long             | EC               |  | US        |    957967 | NS      | $48204899.44  | 1.53%             |  |  |  | No            |                  1 | On Loan: No      |
| THE CIGNA GROUP                             | THE CIGNA GROUP COMMON STOCK                       | CUSIP: 125523100<br>LEI: 549300VIWYMSIGT1U456 | Long             | EC               |  | US        |    348225 | NS      | $92889018.75  | 2.95%             |  |  |  | No            |                  1 | On Loan: No      |
| Xcel Energy Inc.                            | XCEL ENERGY INC COMMON STOCK                       | CUSIP: 98389B100<br>LEI: LGJNMI9GH8XIDG5RCM61 | Long             | EC               |  | US        |    844193 | NS      | $67062691.92  | 2.13%             |  |  |  | No            |                  1 | On Loan: No      |
| Heineken N.V.                               | HEINEKEN NV COMMON STOCK                           | CUSIP: N/A<br>LEI: 724500K5PTPSST86UQ23       | Long             | EC               |  | NL        |    398972 | NS      | $30591516.21  | 0.97%             |  |  |  | No            |                  1 | On Loan: No      |
| CME GROUP INC.                              | CME GROUP INC COMMON STOCK                         | CUSIP: 12572Q105<br>LEI: LCZ7XYGSLJUHFXXNXD88 | Long             | EC               |  | US        |    159652 | NS      | $47153218.20  | 1.50%             |  |  |  | No            |                  1 | On Loan: No      |
| Enbridge Inc.                               | ENBRIDGE INC COMMON STOCK                          | CUSIP: 29250N105<br>LEI: 98TPTUM4IVMFCZBCUR27 | Long             | EC               |  | CA        |   1855254 | NS      | $100250585.20 | 3.18%             |  |  |  | No            |                  1 | On Loan: No      |
| DUKE ENERGY CORPORATION                     | DUKE ENERGY CORP COMMON STOCK                      | CUSIP: 26441C204<br>LEI: I1BZKREC126H0VB1BL91 | Long             | EC               |  | US        |    586303 | NS      | $76770514.82  | 2.44%             |  |  |  | No            |                  1 | On Loan: No      |
| Novartis AG                                 | NOVARTIS AG-REG COMMON STOCK                       | CUSIP: N/A<br>LEI: 5493007HIVTX6SY6XD66       | Long             | EC               |  | CH        |    459704 | NS      | $70215146.05  | 2.23%             |  |  |  | No            |                  1 | On Loan: No      |
| JAPAN TOBACCO INC.                          | JAPAN TOBACCO INC COMMON STOCK                     | CUSIP: N/A<br>LEI: 353800Z0ENYBQO0XRJ31       | Long             | EC               |  | JP        |    282900 | NS      | $10826873.56  | 0.34%             |  |  |  | No            |                  1 | On Loan: No      |
| Bayerische Motoren Werke Aktiengesellschaft | BAYERISCHE MOTOREN WERKE AG COMMON STOCK           | CUSIP: N/A<br>LEI: YEH5ZCD6E441RHVHD759       | Long             | EC               |  | DE        |     83190 | NS      | $7671377.69   | 0.24%             |  |  |  | No            |                  1 | On Loan: No      |
| NEXTERA ENERGY, INC.                        | NEXTERA ENERGY INC COMMON STOCK                    | CUSIP: 65339F101<br>LEI: 254900RHL9MEUS5NKX63 | Long             | EC               |  | US        |    584212 | NS      | $54261610.56  | 1.72%             |  |  |  | No            |                  1 | On Loan: No      |
| THE COCA-COLA COMPANY                       | COCA-COLA CO/THE COMMON STOCK                      | CUSIP: 191216100<br>LEI: UWJKFUJFZ02DKWI3RY53 | Long             | EC               |  | US        |   1038829 | NS      | $79002945.45  | 2.51%             |  |  |  | No            |                  1 | On Loan: No      |
| Itau Unibanco Holding S.A.                  | ITAU UNIBANCO H-SPON PRF ADR DEPOSITARY RECEIPT    | CUSIP: 465562106<br>LEI: 5493002W2IVG62O3ZJ94 | Long             | EC               |  | US        |   6856331 | NS      | $57456051.23  | 1.82%             |  |  |  | No            |                  1 | On Loan: No      |
| BNP PARIBAS SA                              | BNP PARIBAS COMMON STOCK                           | CUSIP: N/A<br>LEI: R0MUWSFPU8MPRO8K5P83       | Long             | EC               |  | FR        |    120724 | NS      | $11464352.76  | 0.36%             |  |  |  | No            |                  1 | On Loan: No      |
| AMERICAN INTERNATIONAL GROUP, INC.          | AMERICAN INTERNATIONAL GROUP COMMON STOCK          | CUSIP: N/A<br>LEI: ODVCVCQG2BP6VHV36M30       | Long             | EC               |  | US        |    733584 | NS      | $55202196.00  | 1.75%             |  |  |  | No            |                  1 | On Loan: No      |
| ASTRAZENECA PLC                             | ASTRAZENECA PLC COMMON STOCK                       | CUSIP: N/A<br>LEI: PY6ZZQWO2IZFZC3IOL08       | Long             | EC               |  | GB        |    360905 | NS      | $70310345.88  | 2.23%             |  |  |  | No            |                  1 | On Loan: No      |
| OCCIDENTAL PETROLEUM CORPORATION            | OCCIDENTAL PETROLEUM CORP COMMON STOCK             | CUSIP: 674599105<br>LEI: IM7X0T3ECJW4C1T7ON55 | Long             | EC               |  | US        |    799366 | NS      | $51958790.00  | 1.65%             |  |  |  | No            |                  1 | On Loan: No      |
| UNILEVER PLC                                | UNILEVER PLC COMMON STOCK                          | CUSIP: G92087348<br>LEI: 549300MKFYEKVRWML317 | Long             | EC               |  | GB        |    323160 | NS      | $17675650.33  | 0.56%             |  |  |  | No            |                  1 | On Loan: No      |
| THE PROGRESSIVE CORPORATION                 | PROGRESSIVE CORP COMMON STOCK                      | CUSIP: 743315103<br>LEI: 529900TACNVLY9DCR586 | Long             | EC               |  | US        |    541575 | NS      | $107361828.00 | 3.41%             |  |  |  | No            |                  1 | On Loan: No      |
| Philip Morris International Inc.            | PHILIP MORRIS INTERNATIONAL COMMON STOCK           | CUSIP: 718172109<br>LEI: HL3H1H2BGXWVG3BSWR90 | Long             | EC               |  | US        |   1215977 | NS      | $201049637.20 | 6.38%             |  |  |  | No            |                  1 | On Loan: No      |
| THE ALLSTATE CORPORATION                    | ALLSTATE CORP COMMON STOCK                         | CUSIP: N/A<br>LEI: OBT0W1ED8G0NWVOLOJ77       | Long             | EC               |  | US        |    376713 | NS      | $78107673.42  | 2.48%             |  |  |  | No            |                  1 | On Loan: No      |
| AMERICAN ELECTRIC POWER COMPANY, INC.       | AMERICAN ELECTRIC POWER COMMON STOCK               | CUSIP: N/A<br>LEI: 1B4S6S7G0TW5EE83BO58       | Long             | EC               |  | US        |    929715 | NS      | $121867042.20 | 3.87%             |  |  |  | No            |                  1 | On Loan: No      |
| VERIZON COMMUNICATIONS INC.                 | VERIZON COMMUNICATIONS INC COMMON STOCK            | CUSIP: 92343V104<br>LEI: 2S72QS2UO2OESLG6Y829 | Long             | EC               |  | US        |   2671210 | NS      | $134094742.00 | 4.26%             |  |  |  | No            |                  1 | On Loan: No      |
| Iberdrola, S.A.                             | IBERDROLA SA COMMON STOCK                          | CUSIP: N/A<br>LEI: 5QK37QC7NWOJ8D7WVQ45       | Long             | EC               |  | ES        |   3108974 | NS      | $70953001.76  | 2.25%             |  |  |  | No            |                  1 | On Loan: No      |
| ADANI POWER LIMITED                         | ADANI POWER LTD COMMON STOCK                       | CUSIP: N/A<br>LEI: 33580074T4XKFXBDG813       | Long             | EC               |  | IN        |  21172330 | NS      | $33696397.01  | 1.07%             |  |  |  | No            |                  1 | On Loan: No      |
| Altria Group, Inc.                          | ALTRIA GROUP INC COMMON STOCK                      | CUSIP: 02209S103<br>LEI: XSGZFLO9YTNO9VCQV219 | Long             | EC               |  | US        |   1775928 | NS      | $117193488.70 | 3.72%             |  |  |  | No            |                  1 | On Loan: No      |
| Chubb Limited                               | CHUBB LTD COMMON STOCK                             | CUSIP: H1467J104<br>LEI: E0JAN6VLUDI1HITHT809 | Long             | EC               |  | US        |    230372 | NS      | $75085145.96  | 2.38%             |  |  |  | No            |                  1 | On Loan: No      |
| ADANI ENTERPRISES LIMITED                   | ADANI ENTERPRISES LTD COMMON STOCK                 | CUSIP: Y00106131<br>LEI: 335800OTN96B3M38HC30 | Long             | EC               |  | IN        |   1686653 | NS      | $31449340.15  | 1.00%             |  |  |  | No            |                  1 | On Loan: No      |
| BERKSHIRE HATHAWAY INC.                     | BERKSHIRE HATHAWAY INC-CL B COMMON STOCK           | CUSIP: N/A<br>LEI: 5493000C01ZX7D35SD85       | Long             | EC               |  | US        |     98465 | NS      | $47184428.00  | 1.50%             |  |  |  | No            |                  1 | On Loan: No      |
| TC Energy Corporation                       | TC ENERGY CORP COMMON STOCK                        | CUSIP: 87807B107<br>LEI: 549300UGKOFV2IWJJG27 | Long             | EC               |  | CA        |    495405 | NS      | $30923098.10  | 0.98%             |  |  |  | No            |                  1 | On Loan: No      |
| N/A                                         | BROWN BROTHERS HARRIMAN SWEEP INTEREST             | CUSIP: N/A<br>LEI: N/A                        | Long             | STIV             |  | US        |  12994301 | PA      | $12994300.85  | 0.41%             |  |  |  | No            |                  1 | On Loan: No      |
| JOHNSON & JOHNSON                           | JOHNSON & JOHNSON COMMON STOCK                     | CUSIP: 478160104<br>LEI: 549300G0CFPGEF6X2043 | Long             | EC               |  | US        |    427110 | NS      | $104402768.40 | 3.31%             |  |  |  | No            |                  1 | On Loan: No      |
| CMS ENERGY CORPORATION                      | CMS ENERGY CORP COMMON STOCK                       | CUSIP: 125896100<br>LEI: 549300IA9XFBAGNIBW29 | Long             | EC               |  | US        |    379766 | NS      | $29462246.28  | 0.94%             |  |  |  | No            |                  1 | On Loan: No      |
| JAPANESE YEN                                | FX Forward Contract: JPY/USD SETTLE 2026-04-01     | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | JP        |         1 | NC      | $1838.86      | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| U.S. DOLLARS                                | FX Forward Contract: USD/EUR SETTLE 2026-04-01     | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | US        |         1 | NC      | $-31298.57    | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| Petroleo Brasileiro S.A. (Petrobras)        | PETROLEO BRASILEIRO-SPON ADR DEPOSITARY RECEIPT    | CUSIP: 71654V408<br>LEI: 5493000J801JZRCMFE49 | Long             | EC               |  | US        |    838852 | NS      | $17406179.00  | 0.55%             |  |  |  | No            |                  1 | On Loan: No      |
| International Holding Company PJSC          | INTL HOLDING CO PJSC COMMON STOCK                  | CUSIP: N/A<br>LEI: 9845000BB909CE4A0G98       | Long             | EC               |  | AE        |    150713 | NS      | $16023166.23  | 0.51%             |  |  |  | No            |                  1 | On Loan: No      |
| CHEVRON CORPORATION                         | CHEVRON CORP COMMON STOCK                          | CUSIP: 166764100<br>LEI: N/A                  | Long             | EC               |  | US        |    386709 | NS      | $80010092.10  | 2.54%             |  |  |  | No            |                  1 | On Loan: No      |
| BRITISH AMERICAN TOBACCO P.L.C.             | BRITISH AMERICAN TOB-SP ADR DEPOSITARY RECEIPT     | CUSIP: 110448107<br>LEI: 213800FKA5MF17RJKT63 | Long             | EC               |  | US        |    719923 | NS      | $42093897.81  | 1.34%             |  |  |  | No            |                  1 | On Loan: No      |
| AMERICAN WATER WORKS COMPANY, INC.          | AMERICAN WATER WORKS CO INC COMMON STOCK           | CUSIP: N/A<br>LEI: 549300DXHIJQMD5WFW18       | Long             | EC               |  | US        |    379237 | NS      | $51610363.33  | 1.64%             |  |  |  | No            |                  1 | On Loan: No      |
| NK LUKOIL PAO                               | LUKOIL PJSC COMMON STOCK                           | CUSIP: N/A<br>LEI: 549300LCJ1UJXHYBWI24       | Long             | EC               |  | RU        |     57094 | NS      | $7.02         | 0.00%             |  |  |  | No            |                  3 | On Loan: No      |
| ICICI BANK LIMITED                          | ICICI BANK LTD-SPON ADR DEPOSITARY RECEIPT         | CUSIP: 45104G104<br>LEI: R7RX8ER1V4666J8D1I38 | Long             | EC               |  | US        |   2627306 | NS      | $68047225.40  | 2.16%             |  |  |  | No            |                  1 | On Loan: No      |
| BRITISH AMERICAN TOBACCO P.L.C.             | BRITISH AMERICAN TOBACCO PLC COMMON STOCK          | CUSIP: N/A<br>LEI: 213800FKA5MF17RJKT63       | Long             | EC               |  | GB        |    822965 | NS      | $47603662.25  | 1.51%             |  |  |  | No            |                  1 | On Loan: No      |
| EXELON CORPORATION                          | EXELON CORP COMMON STOCK                           | CUSIP: 30161N101<br>LEI: 3SOUA6IRML7435B56G12 | Long             | EC               |  | US        |   1177122 | NS      | $57702520.44  | 1.83%             |  |  |  | No            |                  1 | On Loan: No      |
| Petroleo Brasileiro S.A. (Petrobras)        | Petroleo Brasileiro SA - Petrobras PREFERRED STOCK | CUSIP: N/A<br>LEI: 5493000J801JZRCMFE49       | Long             | EP               |  | BR        |   5345051 | NS      | $49725213.30  | 1.58%             |  |  |  | No            |                  1 | On Loan: No      |
| TOTALENERGIES SE                            | TOTALENERGIES SE COMMON STOCK                      | CUSIP: N/A<br>LEI: 529900S21EQ1BO4ESM68       | Long             | EC               |  | FR        |   1315354 | NS      | $120334950.80 | 3.82%             |  |  |  | No            |                  1 | On Loan: No      |
| Nestle S.A.                                 | NESTLE SA-REG COMMON STOCK                         | CUSIP: N/A<br>LEI: KY37LUS27QQX7BB93L28       | Long             | EC               |  | CH        |    539625 | NS      | $52672185.48  | 1.67%             |  |  |  | No            |                  1 | On Loan: No      |
| THE KROGER CO.                              | KROGER CO COMMON STOCK                             | CUSIP: 501044101<br>LEI: 6CPEOKI6OYJ13Q6O7870 | Long             | EC               |  | US        |    788635 | NS      | $57065628.60  | 1.81%             |  |  |  | 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