# EDGAR Filing Document

**Accession Number:** 0001593547
**File Stem:** 0001752724-23-074379
**Filing Date:** 2023-3
**Character Count:** 351693
**Document Hash:** df9a7b763d427be69e010000811c3769
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001752724-23-074379.hdr.sgml**: 20230330

**ACCESSION NUMBER**: 0001752724-23-074379

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20230131

**FILED AS OF DATE**: 20230330

**DATE AS OF CHANGE**: 20230330

**PERIOD START**: 20231031

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Advisors' Inner Circle Fund III
- **CENTRAL INDEX KEY:** 0001593547
- **IRS NUMBER:** 000000000
- **STATE OF INCORPORATION:** DE

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-22920
- **FILM NUMBER:** 23780483

**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

### Knights of Columbus Small Cap Fund (Series ID: S000048266)

| Class ID   | Class Name     | Ticker Symbol   |
|:---|:---|:---|
| C000152513 | I Shares       | KCSIX           |
| C000158713 | Class S Shares | KCSSX           |

## Nport-Ex

---

| | |
|:---|:---|
| **THE ADVISORS' INNER CIRCLE FUND III** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **KNIGHTS OF COLUMBUS** <br> **LIMITED DURATION FUND** <br> **JANUARY 31, 2023** <br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(Unaudited)**  |

---

---

| | | |
|:---|:---|:---|
|  &nbsp;&nbsp;&nbsp;&nbsp;**SCHEDULE OF INVESTMENTS**<br> &nbsp;&nbsp;&nbsp;&nbsp;**U.S. TREASURY OBLIGATIONS — 47.3%** | &nbsp;&nbsp;&nbsp;&nbsp;**SCHEDULE OF INVESTMENTS**<br> &nbsp;&nbsp;&nbsp;&nbsp;**U.S. TREASURY OBLIGATIONS — 47.3%** | &nbsp;&nbsp;&nbsp;&nbsp;**SCHEDULE OF INVESTMENTS**<br> &nbsp;&nbsp;&nbsp;&nbsp;**U.S. TREASURY OBLIGATIONS — 47.3%** |
|  | **Face Amount** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Value**  |
| &nbsp;&nbsp; U.S. Treasury Notes |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.250%, 12/31/24 | $&nbsp;&nbsp;&nbsp;&nbsp;15500000 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15500000 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.000%, 12/15/25 | 10370000 | 10401596 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.875%, 01/15/26 | 3000000 | 2999766 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.875%, 06/15/25 | 27900000 | 27176344 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.500%, 04/30/24 | 5300000 | 5162738 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.250%, 03/31/24 | 7000000 | 6807226 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1.500%, 02/15/25 | 4040000 | 3829005 |
| &nbsp;&nbsp; Total U.S. Treasury Obligations |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (Cost $72,949,643) |  | 71876675 |
|  **CORPORATE OBLIGATIONS — 40.1%** | **CORPORATE OBLIGATIONS — 40.1%** | **CORPORATE OBLIGATIONS — 40.1%** |
|  **COMMUNICATION SERVICES — 1.9%** | **COMMUNICATION SERVICES — 1.9%** | **COMMUNICATION SERVICES — 1.9%** |
| &nbsp;&nbsp; Bell Canada |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0.750%, 03/17/24 | 548000 | 523095 |
| &nbsp;&nbsp; Charter Communications Operating |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.500%, 02/01/24 | 557000 | 551629 |
| &nbsp;&nbsp; Discovery Communications |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.800%, 03/13/24 | 606000 | 595650 |
| &nbsp;&nbsp; NTT Finance |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0.583%, 03/01/24(A) | 1131000 | 1078706 |
|  |  | 2749080 |
|  **CONSUMER DISCRETIONARY — 1.5%** | **CONSUMER DISCRETIONARY — 1.5%** | **CONSUMER DISCRETIONARY — 1.5%** |
| &nbsp;&nbsp; Aptiv |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.396%, 02/18/25 | 525000 | 500947 |
| &nbsp;&nbsp; Brunswick |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0.850%, 08/18/24 | 624000 | 580378 |
| &nbsp;&nbsp; Daimler Finance North America |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.650%, 02/22/24(A) | 570000 | 562092 |
| &nbsp;&nbsp; Genuine Parts |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1.750%, 02/01/25 | 673000 | 632714 |
|  |  | 2276131 |
|  **CONSUMER STAPLES — 4.6%** | **CONSUMER STAPLES — 4.6%** | **CONSUMER STAPLES — 4.6%** |
| &nbsp;&nbsp; 7-Eleven |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0.800%, 02/10/24(A) | 1104000 | 1055532 |
| &nbsp;&nbsp; Coca-Cola European Partners |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0.800%, 05/03/24(A) | 763000 | 723748 |
| &nbsp;&nbsp; Conagra Brands |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.300%, 05/01/24 | 431000 | 426536 |
| &nbsp;&nbsp; Constellation Brands |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.750%, 11/15/24 | 413000 | 412647 |
| &nbsp;&nbsp; Diageo Capital |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.125%, 10/24/24 | 1086000 | 1039974 |
| &nbsp;&nbsp; JDE Peet's |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0.800%, 09/24/24(A) | 1216000 | 1123271 |
| &nbsp;&nbsp; McCormick |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.150%, 08/15/24 | 575000 | 559624 |
| &nbsp;&nbsp; Mondelez International Holdings Netherlands BV |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.250%, 09/19/24(A) | 588000 | 563966 |
| &nbsp;&nbsp; Nestle Holdings |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0.375%, 01/15/24(A) | 530000 | 508042 |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
|  **CORPORATE OBLIGATIONS — continued** | **CORPORATE OBLIGATIONS — continued** | **CORPORATE OBLIGATIONS — continued** | **CORPORATE OBLIGATIONS — continued** | **CORPORATE OBLIGATIONS — continued** |
|  | **Face Amount** | **Face Amount** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Value**  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Value**  |
|  **CONSUMER STAPLES — continued** | **CONSUMER STAPLES — continued** | **CONSUMER STAPLES — continued** | **CONSUMER STAPLES — continued** | **CONSUMER STAPLES — continued** |
| &nbsp;&nbsp; Suntory Holdings |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.250%, 10/16/24(A) | $| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;592000 | &nbsp;&nbsp;&nbsp;&nbsp;$| 560167 |
|  |  |  |  | 6973507 |
|  **ENERGY — 3.2%** | **ENERGY — 3.2%** | **ENERGY — 3.2%** | **ENERGY — 3.2%** | **ENERGY — 3.2%** |
| &nbsp;&nbsp; Chevron USA |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.250%, 10/15/23 |  | 449000 |  | 455054 |
| &nbsp;&nbsp; Continental Resources |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.800%, 06/01/24 |  | 592000 |  | 580227 |
| &nbsp;&nbsp; Devon Energy |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.250%, 09/15/24 |  | 592000 |  | 592029 |
| &nbsp;&nbsp; Enbridge |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.500%, 02/14/25 |  | 673000 |  | 640373 |
| &nbsp;&nbsp; Energy Transfer |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.900%, 05/15/24 |  | 691000 |  | 679120 |
| &nbsp;&nbsp; Hess |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.500%, 07/15/24 |  | 741000 |  | 723829 |
| &nbsp;&nbsp; Mark West Energy Partners |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.500%, 07/15/23 |  | 516000 |  | 511107 |
| &nbsp;&nbsp; Western Midstream Operating |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.950%, 06/01/25 |  | 673000 |  | 642715 |
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4824454 |
|  **FINANCIALS — 13.6%** | **FINANCIALS — 13.6%** | **FINANCIALS — 13.6%** | **FINANCIALS — 13.6%** | **FINANCIALS — 13.6%** |
| &nbsp;&nbsp; Ally Financial |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.875%, 05/21/24 |  | 1365000 |  | 1337648 |
| &nbsp;&nbsp; Antares Holdings |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.000%, 08/15/23(A) |  | 584000 |  | 582442 |
| &nbsp;&nbsp; Ares Capital |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.200%, 06/10/24 |  | 566000 |  | 556601 |
| &nbsp;&nbsp; Banco Santander |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0.701%, US Treas Yield Curve Rate T Note Const Mat 1 Yr + 0.450%, 06/30/24(B) |  | 718000 |  | 703051 |
| &nbsp;&nbsp; Bank of Montreal MTN |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1.500%, 01/10/25 |  | 987000 |  | 927035 |
| &nbsp;&nbsp; Bank of Nova Scotia |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0.700%, 04/15/24 |  | 610000 |  | 580375 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0.650%, 07/31/24 |  | 610000 |  | 573142 |
| &nbsp;&nbsp; BlackRock TCP Capital |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.900%, 08/23/24 |  | 1140000 |  | 1088985 |
| &nbsp;&nbsp; Blackstone Private Credit Fund |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1.750%, 09/15/24 |  | 812000 |  | 758511 |
| &nbsp;&nbsp; Capital One Financial |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.300%, 10/30/24 |  | 566000 |  | 549837 |
| &nbsp;&nbsp; Citigroup |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.750%, ICE LIBOR USD 3 Month + 1.100%, 05/17/24(B) |  | 857000 |  | 858563 |
| &nbsp;&nbsp; Discover Financial Services |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.950%, 11/06/24 |  | 557000 |  | 546503 |
| &nbsp;&nbsp; Emera US Finance |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0.833%, 06/15/24 |  | 875000 |  | 822510 |
| &nbsp;&nbsp; Equitable Financial Life Global Funding |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1.100%, 11/12/24(A) |  | 619000 |  | 579755 |
| &nbsp;&nbsp; F&G Global Funding |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0.900%, 09/20/24(A) |  | 943000 |  | 871809 |

---

**1** 

------

---

| | |
|:---|:---|
| **THE ADVISORS' INNER CIRCLE FUND III** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **KNIGHTS OF COLUMBUS** <br> **LIMITED DURATION FUND** <br> **JANUARY 31, 2023** <br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(Unaudited)**  |

---

---

| | | |
|:---|:---|:---|
|  **CORPORATE OBLIGATIONS — continued** | **CORPORATE OBLIGATIONS — continued** |  |
|  | **Face Amount** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Value**  |
|  **FINANCIALS — continued** | **FINANCIALS — continued** |  |
| &nbsp;&nbsp; Franklin BSP Lending | &nbsp;&nbsp; Franklin BSP Lending |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.850%, 12/15/24(A) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;628000 | $596777 |
| &nbsp;&nbsp; FS KKR Capital | &nbsp;&nbsp; FS KKR Capital |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.625%, 07/15/24 | 584000 | 572869 |
| &nbsp;&nbsp; Goldman Sachs Group | &nbsp;&nbsp; Goldman Sachs Group |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.074%, U.S. SOFR + 0.790%, 12/09/26(B) | 512000 | 497485 |
| &nbsp;&nbsp; Golub Capital BDC | &nbsp;&nbsp; Golub Capital BDC |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.375%, 04/15/24 | 588000 | 570471 |
| &nbsp;&nbsp; National Bank of Canada MTN |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0.550%, US Treas Yield Curve Rate T Note Const Mat 1 Yr + 0.400%, 11/15/24(B) | 1100000 | 1060162 |
| &nbsp;&nbsp; Owl Rock Capital | &nbsp;&nbsp; Owl Rock Capital |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.250%, 04/15/24 | 561000 | 556960 |
| &nbsp;&nbsp; PNC Bank | &nbsp;&nbsp; PNC Bank |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.500%, 08/27/24 | 449000 | 433692 |
| &nbsp;&nbsp; PNC Financial Services Group | &nbsp;&nbsp; PNC Financial Services Group |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.492%, ICE LIBOR USD 3 Month + 3.678%(B)(C) | 377000 | 377942 |
| &nbsp;&nbsp; Principal Life Global Funding II | &nbsp;&nbsp; Principal Life Global Funding II |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1.375%, 01/10/25(A) | 651000 | 608414 |
| &nbsp;&nbsp; Santander Holdings USA | &nbsp;&nbsp; Santander Holdings USA |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.500%, 06/07/24 | 287000 | 280292 |
| &nbsp;&nbsp; Sixth Street Specialty Lending | &nbsp;&nbsp; Sixth Street Specialty Lending |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.875%, 11/01/24 | 575000 | 559349 |
| &nbsp;&nbsp; Synchrony Financial | &nbsp;&nbsp; Synchrony Financial |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.375%, 03/19/24 | 557000 | 550899 |
| &nbsp;&nbsp; Trinity Acquisition | &nbsp;&nbsp; Trinity Acquisition |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.625%, 08/15/23 | 105000 | 104530 |
| &nbsp;&nbsp; UBS | &nbsp;&nbsp; UBS |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0.700%, 08/09/24(A) | 1032000 | 968159 |
| &nbsp;&nbsp; Webster Financial | &nbsp;&nbsp; Webster Financial |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.375%, 02/15/24 | 987000 | 971635 |
| &nbsp;&nbsp; Wells Fargo MTN | &nbsp;&nbsp; Wells Fargo MTN |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0.805%, U.S. SOFR + 0.510%, 05/19/25(B) | 584000 | 552772 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20599175 |
|  **HEALTH CARE — 0.7%** | **HEALTH CARE — 0.7%** |  |
| &nbsp;&nbsp; Baxter International | &nbsp;&nbsp; Baxter International |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1.322%, 11/29/24 | 446000 | 418691 |
| &nbsp;&nbsp; Zimmer Biomet Holdings | &nbsp;&nbsp; Zimmer Biomet Holdings |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1.450%, 11/22/24 | 633000 | 596937 |
|  |  | 1015628 |
|  **INDUSTRIALS — 5.4%** | **INDUSTRIALS — 5.4%** |  |
| &nbsp;&nbsp; AerCap Ireland Capital DAC | &nbsp;&nbsp; AerCap Ireland Capital DAC |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.875%, 01/16/24 | 242000 | 240626 |
| &nbsp;&nbsp; Air Lease MTN | &nbsp;&nbsp; Air Lease MTN |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0.700%, 02/15/24 | 552000 | 526505 |
| &nbsp;&nbsp; American Airlines Pass-Through Trust, Ser 2015-1 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.700%, 05/01/23 | 208722 | 206944 |
| &nbsp;&nbsp; Canadian Pacific Railway | &nbsp;&nbsp; Canadian Pacific Railway |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1.350%, 12/02/24 | 1279000 | 1201918 |

---

---

| | | |
|:---|:---|:---|
|  **CORPORATE OBLIGATIONS — continued** | **CORPORATE OBLIGATIONS — continued** |  |
|  | **Face Amount** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Value**  |
|  **INDUSTRIALS — continued** | **INDUSTRIALS — continued** |  |
| &nbsp;&nbsp; CNH Industrial Capital | &nbsp;&nbsp; CNH Industrial Capital |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.200%, 01/15/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;561000 | $556013 |
| &nbsp;&nbsp; Daimler Trucks Finance North America |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1.625%, 12/13/24(A) | 1275000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1197988 |
| &nbsp;&nbsp; Georgia-Pacific | &nbsp;&nbsp; Georgia-Pacific |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0.625%, 05/15/24(A) | 539000 | 511117 |
| &nbsp;&nbsp; Howmet Aerospace | &nbsp;&nbsp; Howmet Aerospace |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.125%, 10/01/24 | 566000 | 563170 |
| &nbsp;&nbsp; Johnson Controls International | &nbsp;&nbsp; Johnson Controls International |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.625%, 07/02/24(D) | 503000 | 494360 |
| &nbsp;&nbsp; Lennox International | &nbsp;&nbsp; Lennox International |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.000%, 11/15/23 | 539000 | 530390 |
| &nbsp;&nbsp; Penske Truck Leasing Lp | &nbsp;&nbsp; Penske Truck Leasing Lp |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.125%, 08/01/23(A) | 444000 | 441614 |
| &nbsp;&nbsp; Quanta Services | &nbsp;&nbsp; Quanta Services |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0.950%, 10/01/24 | 619000 | 576198 |
| &nbsp;&nbsp; Teledyne Technologies | &nbsp;&nbsp; Teledyne Technologies |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0.950%, 04/01/24 | 552000 | 525800 |
| &nbsp;&nbsp; Westinghouse Air Brake Technologies | &nbsp;&nbsp; Westinghouse Air Brake Technologies |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.400%, 03/15/24 | 566000 | 558814 |
|  |  | 8131457 |
|  **INFORMATION TECHNOLOGY — 2.4%** | **INFORMATION TECHNOLOGY — 2.4%** |  |
| &nbsp;&nbsp; Broadcom | &nbsp;&nbsp; Broadcom |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.625%, 10/15/24 | 516000 | 505565 |
| &nbsp;&nbsp; Fidelity National Information Services | &nbsp;&nbsp; Fidelity National Information Services |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0.600%, 03/01/24 | 557000 | 530882 |
| &nbsp;&nbsp; Infor | &nbsp;&nbsp; Infor |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1.450%, 07/15/23(A) | 485000 | 474666 |
| &nbsp;&nbsp; Microchip Technology | &nbsp;&nbsp; Microchip Technology |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0.983%, 09/01/24 | 359000 | 336203 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0.972%, 02/15/24 | 530000 | 507372 |
| &nbsp;&nbsp; Renesas Electronics | &nbsp;&nbsp; Renesas Electronics |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1.543%, 11/26/24(A) | 862000 | 796683 |
| &nbsp;&nbsp; Roper Technologies | &nbsp;&nbsp; Roper Technologies |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.350%, 09/15/24 | 584000 | 560399 |
|  |  | 3711770 |
|  **MATERIALS — 4.0%** | **MATERIALS — 4.0%** |  |
| &nbsp;&nbsp; Anglo American Capital | &nbsp;&nbsp; Anglo American Capital |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.625%, 09/11/24(A) | 534000 | 520951 |
| &nbsp;&nbsp; Avery Dennison | &nbsp;&nbsp; Avery Dennison |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0.850%, 08/15/24 | 628000 | 590446 |
| &nbsp;&nbsp; Berry Global | &nbsp;&nbsp; Berry Global |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0.950%, 02/15/24 | 539000 | 514656 |
| &nbsp;&nbsp; Celanese US Holdings | &nbsp;&nbsp; Celanese US Holdings |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.500%, 05/08/24 | 732000 | 716506 |
| &nbsp;&nbsp; Freeport-McMoRan | &nbsp;&nbsp; Freeport-McMoRan |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.550%, 11/14/24 | 898000 | 887370 |
| &nbsp;&nbsp; Mosaic | &nbsp;&nbsp; Mosaic |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.250%, 11/15/23 | 575000 | 571406 |
| &nbsp;&nbsp; Sonoco Products | &nbsp;&nbsp; Sonoco Products |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1.800%, 02/01/25 | 651000 | 609988 |

---

**2** 

------

---

| | |
|:---|:---|
| **THE ADVISORS' INNER CIRCLE FUND III** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **KNIGHTS OF COLUMBUS** <br> **LIMITED DURATION FUND** <br> **JANUARY 31, 2023** <br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(Unaudited)**  |

---

---

| | | |
|:---|:---|:---|
|  **CORPORATE OBLIGATIONS — continued** | **CORPORATE OBLIGATIONS — continued** |  |
|  | **Face Amount** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Value**  |
|  **MATERIALS — continued** | **MATERIALS — continued** |  |
| &nbsp;&nbsp; Steel Dynamics | &nbsp;&nbsp; Steel Dynamics |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.800%, 12/15/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;552000 | $530132 |
| &nbsp;&nbsp; West Fraser Timber | &nbsp;&nbsp; West Fraser Timber |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.350%, 10/15/24(A) | 666000 | 652838 |
| &nbsp;&nbsp; Westlake | &nbsp;&nbsp; Westlake |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0.875%, 08/15/24 | 644000 | 602972 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6197265 |
|  **REAL ESTATE — 0.8%** | **REAL ESTATE — 0.8%** |  |
| &nbsp;&nbsp; American Tower | &nbsp;&nbsp; American Tower |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0.600%, 01/15/24 | 830000 | 795790 |
| &nbsp;&nbsp; Vornado Realty | &nbsp;&nbsp; Vornado Realty |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.500%, 01/15/25 | 516000 | 489985 |
|  |  | 1285775 |
|  **UTILITIES — 2.0%** | **UTILITIES — 2.0%** |  |
| &nbsp;&nbsp; American Electric Power | &nbsp;&nbsp; American Electric Power |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.031%, 03/15/24 | 651000 | 629064 |
| &nbsp;&nbsp; Black Hills | &nbsp;&nbsp; Black Hills |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1.037%, 08/23/24 | 925000 | 868958 |
| &nbsp;&nbsp; Dominion Energy | &nbsp;&nbsp; Dominion Energy |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.071%, 08/15/24(D) | 507000 | 491958 |
| &nbsp;&nbsp; Southern | &nbsp;&nbsp; Southern |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0.600%, 02/26/24 | 557000 | 532217 |
| &nbsp;&nbsp; WEC Energy Group | &nbsp;&nbsp; WEC Energy Group |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0.800%, 03/15/24 | 566000 | 540072 |
|  |  | 3062269 |
| &nbsp;&nbsp; Total Corporate Obligations | &nbsp;&nbsp; Total Corporate Obligations |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (Cost $64,133,653) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (Cost $64,133,653) | 60826511 |
|  **ASSET-BACKED SECURITIES — 6.4%** | **ASSET-BACKED SECURITIES — 6.4%** |  |
| &nbsp;&nbsp; ABPCI Direct Lending Fund CLO X, Ser 2020-10A, Cl A2A |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.390%, ICE LIBOR USD 3 Month + 2.150%, 01/20/32 (A)(B) | 1122000 | 1115806 |
| &nbsp;&nbsp; Benefit Street Partners CLO II, Ser 2021-IIA, Cl A2R2 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.242%, ICE LIBOR USD 3 Month + 1.450%, 07/15/29 (A)(B) | 539000 | 532251 |
| &nbsp;&nbsp; Blackrock Mount Adams CLO IX, Ser 2021-9A, Cl A1 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.123%, ICE LIBOR USD 3 Month + 1.370%, 09/22/31 (A)(B) | 920000 | 906147 |
| &nbsp;&nbsp; California Street CLO IX,<br>Ser 2021-9A, Cl AR3 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.892%, ICE LIBOR USD 3 Month + 1.100%, 07/16/32 (A)(B) | 592000 | 582774 |
| &nbsp;&nbsp; Cerberus Loan Funding XXXVI, Ser 2021-6A, Cl B |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.542%, ICE LIBOR USD 3 Month + 1.750%, 11/22/33 (A)(B) | 628000 | 617531 |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
|  **ASSET-BACKED SECURITIES — continued** | **ASSET-BACKED SECURITIES — continued** | **ASSET-BACKED SECURITIES — continued** | **ASSET-BACKED SECURITIES — continued** | **ASSET-BACKED SECURITIES — continued** |
|  | **Face Amount** | **Face Amount** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Value**  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Value**  |
| &nbsp;&nbsp; Churchill MMSLF CLO-I, Ser 2021-2A, Cl A |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.232%, ICE LIBOR USD 3<br>Month + 1.450%, 10/01/32 (A)(B) | $| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1113000 | &nbsp;&nbsp;&nbsp;&nbsp;$| 1088318 |
| &nbsp;&nbsp; CoreVest American Finance Trust, Ser 2017-1, Cl D |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.358%, 10/15/49 (A) |  | 13458 |  | 13416 |
| &nbsp;&nbsp; Fortress Credit Opportunities XI<br>CLO, Ser 2018-11A, Cl A1T |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.092%, ICE LIBOR USD 3<br>Month + 1.300%, 04/15/31 (A)(B) |  | 1109000 |  | 1092546 |
| &nbsp;&nbsp; Fortress Credit Opportunities XVII CLO, Ser 2022-17A, Cl B |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.608%, TSFR3M + 1.950%, 01/15/30 (A)(B) |  | 637000 |  | 613149 |
| &nbsp;&nbsp; KKR Lending Partners III Clo, Ser 2021-1A, Cl B |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.708%, ICE LIBOR USD 3<br>Month + 1.900%, 10/20/30 (A)(B) |  | 592000 |  | 568126 |
| &nbsp;&nbsp; Nassau, Ser 2017-IIA, Cl AF |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.380%, 01/15/30 (A) |  | 373253 |  | 358431 |
| &nbsp;&nbsp; RIN II, Ser 2019-1A, Cl A |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.385%, ICE LIBOR USD 3<br>Month + 1.650%, 09/10/30 (A)(B) |  | 557000 |  | 552008 |
| &nbsp;&nbsp; VCP CLO II, Ser 2021-2A, Cl A1 |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.462%, ICE LIBOR USD 3<br>Month + 1.670%, 04/15/31 (A)(B) |  | 673000 |  | 667049 |
| &nbsp;&nbsp; Wellfleet CLO, Ser 2018-2A, Cl A1R |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.948%, ICE LIBOR USD 3<br>Month + 1.140%, 10/20/28 (A)(B) |  | 246735 |  | 244691 |
| &nbsp;&nbsp; Wellfleet CLO, Ser 2021-1A, Cl BR4 |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.358%, ICE LIBOR USD 3<br>Month + 1.550%, 07/20/29 (A)(B) |  | 592000 |  | 583680 |
| &nbsp;&nbsp; Zais CLO VIII, Ser 2018-1A, Cl A |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.742%, ICE LIBOR USD 3 Month + 0.950%, 04/15/29 (A)(B) |  | 160731 |  | 159774 |
| &nbsp;&nbsp; Total Asset-Backed Securities |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (Cost $9,865,613) |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9695697 |
|  **MORTGAGE-BACKED SECURITIES — 3.8%** | **MORTGAGE-BACKED SECURITIES — 3.8%** | **MORTGAGE-BACKED SECURITIES — 3.8%** | **MORTGAGE-BACKED SECURITIES — 3.8%** | **MORTGAGE-BACKED SECURITIES — 3.8%** |
| &nbsp;&nbsp; BPR Trust, Ser 2021-KEN, Cl B |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.409%, ICE LIBOR USD 1<br>Month + 1.950%, 02/15/29 (A)(B) |  | 723000 |  | 705460 |

---

**3** 

------

---

| | |
|:---|:---|
| **THE ADVISORS' INNER CIRCLE FUND III** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **KNIGHTS OF COLUMBUS** <br> **LIMITED DURATION FUND** <br> **JANUARY 31, 2023** <br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(Unaudited)**  |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
|  **MORTGAGE-BACKED SECURITIES — continued** | **MORTGAGE-BACKED SECURITIES — continued** | **MORTGAGE-BACKED SECURITIES — continued** | **MORTGAGE-BACKED SECURITIES — continued** | **MORTGAGE-BACKED SECURITIES — continued** |
|  | **Face Amount** | **Face Amount** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Value**  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Value**  |
| &nbsp;&nbsp; COLT Mortgage Loan Trust, Ser 2021-2R, Cl A2 |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1.106%, 07/27/54 (A) | $| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;130693 | &nbsp;&nbsp;&nbsp;&nbsp;$| 112791 |
| &nbsp;&nbsp; COMM Mortgage Trust, Ser 2013- CR10, Cl ASB |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.795%, 08/10/46 |  | 52045 |  | 51878 |
| &nbsp;&nbsp; FREMF Mortgage Trust, Ser 2015- K48, Cl C |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.646%, 08/25/48 (A)(B) |  | 718000 |  | 682572 |
| &nbsp;&nbsp; FREMF Mortgage Trust, Ser 2017- K729, Cl B |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.673%, 11/25/49 (A)(B) |  | 750000 |  | 722563 |
| &nbsp;&nbsp; GS Mortgage-Backed Securities Trust, Ser 2022-PJ2, Cl A7 |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.500%, 06/25/52 (A)(B) |  | 1134255 |  | 1045015 |
| &nbsp;&nbsp; GS Mortgage-Backed Securities Trust, Ser 2022-PJ3, Cl A7 |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.500%, 08/25/52 (A)(B) |  | 1001942 |  | 922089 |
| &nbsp;&nbsp; JP Morgan Mortgage Trust, Ser 2014-IVR6, Cl AM |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.349%, 07/25/44 (A)(B) |  | 35124 |  | 34664 |
| &nbsp;&nbsp; JP Morgan Mortgage Trust, Ser 2016-2, Cl A1 |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.332%, 06/25/46 (A)(B) |  | 42429 |  | 39517 |
| &nbsp;&nbsp; JP Morgan Mortgage Trust, Ser 2016-5, Cl A1 |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.407%, 12/25/46 (A)(B) |  | 84285 |  | 81200 |
| &nbsp;&nbsp; JP Morgan Mortgage Trust, Ser 2022-4, Cl A12 |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.000%, 10/25/52 (A)(B) |  | 1208835 |  | 1134194 |
| &nbsp;&nbsp; Sequoia Mortgage Trust, Ser 2013- 4, Cl B3 |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.442%, 04/25/43 (B) |  | 78066 |  | 71704 |
| &nbsp;&nbsp; Verus Securitization Trust,<br>Ser 2021-1, Cl A2 |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1.052%, 01/25/66 (A)(B) |  | 212341 |  | 178206 |
| &nbsp;&nbsp; Total Mortgage-Backed Securities |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (Cost $6,201,971) |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5781853 |
|  **U.S. GOVERNMENT AGENCY MORTGAGE-BACKED OBLIGATIONS — 0.0%** | **U.S. GOVERNMENT AGENCY MORTGAGE-BACKED OBLIGATIONS — 0.0%** | **U.S. GOVERNMENT AGENCY MORTGAGE-BACKED OBLIGATIONS — 0.0%** | **U.S. GOVERNMENT AGENCY MORTGAGE-BACKED OBLIGATIONS — 0.0%** | **U.S. GOVERNMENT AGENCY MORTGAGE-BACKED OBLIGATIONS — 0.0%** |
| &nbsp;&nbsp; FHLMC |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.000%, 01/01/37 |  | 866 |  | 891 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.000%, 11/01/37 |  | 1041 |  | 1074 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.500%, 07/01/34 |  | 1421 |  | 1446 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.000%, 03/01/39 |  | 2818 |  | 2787 |
| &nbsp;&nbsp; FHLMC, Ser 2004-2746, Cl BG |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.000%, 02/15/24 |  | 4501 |  | 4475 |
| &nbsp;&nbsp; FNMA |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.000%, 05/01/36 |  | 287 |  | 304 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.000%, 08/01/36 |  | 268 |  | 282 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.500%, 07/01/38 |  | 2263 |  | 2349 |

---

---

| | | | |
|:---|:---|:---|:---|
|  **U.S. GOVERNMENT AGENCY MORTGAGE-BACKED OBLIGATIONS — continued** | **U.S. GOVERNMENT AGENCY MORTGAGE-BACKED OBLIGATIONS — continued** | **U.S. GOVERNMENT AGENCY MORTGAGE-BACKED OBLIGATIONS — continued** | **U.S. GOVERNMENT AGENCY MORTGAGE-BACKED OBLIGATIONS — continued** |
|  | **Face Amount** | **Face Amount** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Value**  |
| &nbsp;&nbsp; GNMA |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.000%, 03/15/32 | $| 589 | $619 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.000%, 09/15/33 |  | 4378 | 4583 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.000%, 09/15/37 |  | 1823 | 1934 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.500%, 06/15/38 |  | 720 | 735 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.000%, 06/15/33 |  | 1129 | 1161 |
| &nbsp;&nbsp; Total U.S. Government Agency Mortgage-Backed Obligations<br>(Cost $23,838) |  |  | 22640 |
| &nbsp;&nbsp; Total Investments in Securities— 97.6% | &nbsp;&nbsp; Total Investments in Securities— 97.6% | &nbsp;&nbsp; Total Investments in Securities— 97.6% |  |
| &nbsp;&nbsp;&nbsp;&nbsp; (Cost $153,174,718) |  |  | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;148203376 |

---

Percentages are based on Net Assets of $151,850,385.

(A) Securities sold within the terms of a private placement memorandum, exempt from registration under section 144A
of the Securities Act of 1933, as amended, and maybe sold only to dealers in the program or other "accredited investors". The total value of these securities at January 31, 2023 was $30,332,705 and represented 20.0% of Net Assets.

(B) Variable or floating rate security. The rate shown is the effective interest rate as of period end. The rates on
certain securities are not based on published reference rates and spreads and are either determined by the issuer or agent based on current market conditions; by using a formula based on the rates of underlying loans; or by adjusting periodically
based on prevailing interest rates.

(C) Perpetual security with no stated maturity date.

(D) Step coupon security. Coupon rate will either increase (step-up bond) or decrease (step-down bond) at regular
intervals until maturity. Interest rate shown reflects the rate currently in effect.

See "Glossary" for abbreviations.

KOC-QH-002-1600

**4** 

------

---

| | |
|:---|:---|
| **THE ADVISORS' INNER CIRCLE FUND III** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **KNIGHTS OF COLUMBUS** <br> **CORE BOND FUND** <br> **JANUARY 31, 2023** <br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(Unaudited)**  |

---

---

| | | |
|:---|:---|:---|
|  &nbsp;&nbsp;&nbsp;&nbsp;**SCHEDULE OF INVESTMENTS** | &nbsp;&nbsp;&nbsp;&nbsp;**SCHEDULE OF INVESTMENTS** | &nbsp;&nbsp;&nbsp;&nbsp;**SCHEDULE OF INVESTMENTS** |
|  &nbsp;&nbsp;&nbsp;&nbsp;**U.S. TREASURY OBLIGATIONS — 46.5%** | &nbsp;&nbsp;&nbsp;&nbsp;**U.S. TREASURY OBLIGATIONS — 46.5%** | &nbsp;&nbsp;&nbsp;&nbsp;**U.S. TREASURY OBLIGATIONS — 46.5%** |
|  | **Face Amount** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Value**  |
| &nbsp;&nbsp; U.S. Treasury Bonds |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.000%, 11/15/42 | $1800000 | $1860188 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.000%, 11/15/52 | 1000000 | 1069375 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.750%, 08/15/41 | 6900000 | 6943125 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.000%, 05/15/45 | 1725000 | 1518741 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.000%, 08/15/52 | 250000 | 221211 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.875%, 05/15/52 | 3000000 | 2585156 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.250%, 08/15/46 | 4100000 | 3130574 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1.875%, 11/15/51 | 1300000 | 892328 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1.250%, 05/15/50 | 1850000 | 1087092 |
| &nbsp;&nbsp; U.S. Treasury Notes |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.250%, 12/31/24 | 10500000 | 10500000 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.125%, 11/15/32 | 1500000 | 1578047 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.875%, 01/15/26 | 10000000 | 9999219 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.875%, 12/31/27 | 5000000 | 5056641 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.875%, 09/30/29 | 2900000 | 2949617 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.750%, 05/31/29 | 3000000 | 2857734 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.750%, 08/15/32 | 3500000 | 3293281 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.625%, 05/31/27 | 9900000 | 9486211 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1.500%, 02/15/25 | 940000 | 890907 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1.375%, 11/15/31 | 1000000 | 843086 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0.625%, 05/15/30 | 1000000 | 818008 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0.250%, 05/15/24 | 500000 | 472871 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0.250%, 09/30/25 | 400000 | 363438 |
| &nbsp;&nbsp; United States Treasury Bills |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.639%, 11/30/23(A) | 7750000 | 7460558 |
| &nbsp;&nbsp; Total U.S. Treasury Obligations |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (Cost $79,886,821) |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75877408 |
|  **CORPORATE OBLIGATIONS — 25.7%** | **CORPORATE OBLIGATIONS — 25.7%** | **CORPORATE OBLIGATIONS — 25.7%** |
|  **COMMUNICATION SERVICES — 1.2%** | **COMMUNICATION SERVICES — 1.2%** | **COMMUNICATION SERVICES — 1.2%** |
| &nbsp;&nbsp; Comcast |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.887%, 11/01/51 | 314000 | 219204 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.650%, 02/01/30 | 240000 | 214579 |
| &nbsp;&nbsp; Discovery Communications |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.125%, 05/15/29 | 635000 | 583750 |
| &nbsp;&nbsp; NBN MTN |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.625%, 05/05/31(B) | 600000 | 499816 |
| &nbsp;&nbsp; Verizon Communications |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.875%, 02/08/29 | 480000 | 462059 |
|  |  | 1979408 |
|  **CONSUMER DISCRETIONARY — 1.1%** | **CONSUMER DISCRETIONARY — 1.1%** | **CONSUMER DISCRETIONARY — 1.1%** |
| &nbsp;&nbsp; 7-Eleven |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.800%, 02/10/51(B) | 940000 | 620134 |
| &nbsp;&nbsp; General Motors Financial |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.000%, 10/06/26 | 65000 | 62610 |
| &nbsp;&nbsp; Mars |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.375%, 07/16/40(B) | 540000 | 394958 |
| &nbsp;&nbsp; Tiffany |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.900%, 10/01/44 | 759000 | 701988 |
|  |  | 1779690 |
|  **CONSUMER STAPLES — 1.7%** | **CONSUMER STAPLES — 1.7%** | **CONSUMER STAPLES — 1.7%** |
| &nbsp;&nbsp; Anheuser-Busch InBev Worldwide |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.750%, 01/23/29 | 300000 | 304768 |

---

---

| | | |
|:---|:---|:---|
|  **CORPORATE OBLIGATIONS — continued** | **CORPORATE OBLIGATIONS — continued** | **CORPORATE OBLIGATIONS — continued** |
|  | **Face Amount** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Value**  |
|  **CONSUMER STAPLES — continued** | **CONSUMER STAPLES — continued** | **CONSUMER STAPLES — continued** |
| &nbsp;&nbsp; Bacardi |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.150%, 05/15/38(B) | $520000 | $509693 |
| &nbsp;&nbsp; Bunge Finance |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.250%, 08/15/26 | 250000 | 237173 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1.630%, 08/17/25 | 250000 | 230401 |
| &nbsp;&nbsp; Conagra Brands |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.600%, 11/01/25 | 465000 | 461806 |
| &nbsp;&nbsp; JBS USA LUX |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.000%, 05/15/32(B) | 695000 | 551014 |
| &nbsp;&nbsp; Mondelez International |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1.500%, 02/04/31 | 535000 | 428276 |
|  |  | 2723131 |
|  **ENERGY — 1.7%** |  |  |
| &nbsp;&nbsp; Boardwalk Pipelines |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.800%, 05/03/29 | 480000 | 472748 |
| &nbsp;&nbsp; Chevron USA |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.000%, 04/01/27 | 250000 | 285549 |
| &nbsp;&nbsp; Eastern Gas Transmission & Storage |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.000%, 11/15/29 | 560000 | 502106 |
| &nbsp;&nbsp; Energy Transfer Operating |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.900%, 05/15/25 | 415000 | 395920 |
| &nbsp;&nbsp; Gray Oak Pipeline |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.000%, 09/15/23(B) | 365000 | 356624 |
| &nbsp;&nbsp; MarkWest Energy Partners |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.875%, 06/01/25 | 375000 | 367328 |
| &nbsp;&nbsp; Rockies Express Pipeline |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.600%, 05/15/25(B) | 480000 | 453764 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2834039 |
|  **FINANCIALS — 8.5%** |  |  |
| &nbsp;&nbsp; Ares Capital |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.250%, 03/01/25 | 570000 | 549676 |
| &nbsp;&nbsp; Ares Finance II |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.250%, 06/15/30(B) | 645000 | 549225 |
| &nbsp;&nbsp; Bank of Montreal |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.803%, USD Swap Semi 30/360 5 Yr Curr + 1.432%, 12/15/32(C) | 825000 | 755300 |
| &nbsp;&nbsp; Brookfield Finance |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.250%, 06/02/26 | 705000 | 693873 |
| &nbsp;&nbsp; Carlyle Finance Subsidiary |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.500%, 09/19/29(B) | 650000 | 569687 |
| &nbsp;&nbsp; CI Financial |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.200%, 12/17/30 | 910000 | 711568 |
| &nbsp;&nbsp; Deutsche Bank NY |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.742%, U.S. SOFR + 2.257%, 01/07/33(C) | 750000 | 592503 |
| &nbsp;&nbsp; E\*TRADE Financial |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.800%, 08/24/27 | 855000 | 833554 |
| &nbsp;&nbsp; First Republic Bank |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.375%, 08/01/46 | 270000 | 215473 |
| &nbsp;&nbsp; Goldman Sachs Group |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.074%, U.S. SOFR + 0.790%, 12/09/26(C) | 520000 | 505258 |

---

**5** 

------

---

| | |
|:---|:---|
| **THE ADVISORS' INNER CIRCLE FUND III** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **KNIGHTS OF COLUMBUS** <br> **CORE BOND FUND** <br> **JANUARY 31, 2023** <br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(Unaudited)**  |

---

---

| | | |
|:---|:---|:---|
|  **CORPORATE OBLIGATIONS — continued** | **CORPORATE OBLIGATIONS — continued** | **CORPORATE OBLIGATIONS — continued** |
|  | **Face Amount** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Value**  |
|  **FINANCIALS — continued** |  |  |
| &nbsp;&nbsp; Legg Mason |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.625%, 01/15/44 | $685000 | $707114 |
| &nbsp;&nbsp; MSCI |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.250%, 08/15/33(B) | 505000 | 414100 |
| &nbsp;&nbsp; National Australia Bank |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.347%, US Treas Yield Curve Rate T Note Const Mat 5 Yr + 1.700%, 01/12/37(B)(C) | 750000 | 605605 |
| &nbsp;&nbsp; Neuberger Berman Group |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.500%, 03/15/27(B) | 970000 | 935662 |
| &nbsp;&nbsp; Nuveen Finance |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.125%, 11/01/24(B) | 400000 | 390776 |
| &nbsp;&nbsp; PennantPark Floating Rate Capital |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.250%, 04/01/26 | 650000 | 586964 |
| &nbsp;&nbsp; Raymond James Financial |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.750%, 04/01/51 | 610000 | 482502 |
| &nbsp;&nbsp; Santander Holdings USA |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.450%, 06/02/25 | 200000 | 191351 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.490%, U.S. SOFR + 1.249%, 01/06/28(C) | 750000 | 661515 |
| &nbsp;&nbsp; Stifel Financial |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.250%, 07/18/24 | 445000 | 439153 |
| &nbsp;&nbsp; Synchrony Financial |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.250%, 08/15/24 | 345000 | 338487 |
| &nbsp;&nbsp; Texas Capital Bancshares |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.000%, US Treas Yield Curve Rate T Note Const Mat 5 Yr + 3.150%, 05/06/31(C) | 825000 | 751094 |
| &nbsp;&nbsp; UBS Group |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.179%, US Treas Yield Curve Rate T Note Const Mat 1 Yr + 1.100%, 02/11/43(B)(C) | 555000 | 425936 |
| &nbsp;&nbsp; Willis North America |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.600%, 05/15/24 | 415000 | 406278 |
| &nbsp;&nbsp; Zions Bancorp |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.250%, 10/29/29 | 750000 | 636527 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13949181 |
|  **INDUSTRIALS — 3.5%** |  |  |
| &nbsp;&nbsp; American Airlines Pass-Through Trust, Ser 2015-1 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.700%, 05/01/23 | 209463 | 207679 |
| &nbsp;&nbsp; Ashtead Capital |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1.500%, 08/12/26(B) | 650000 | 572214 |
| &nbsp;&nbsp; Canadian Pacific Railway |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.100%, 12/02/51 | 880000 | 648824 |
| &nbsp;&nbsp; Daimler Trucks Finance North America |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.500%, 12/14/31(B) | 940000 | 768948 |
| &nbsp;&nbsp; Delta Air Lines |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.900%, 10/28/24 | 455000 | 434015 |
| &nbsp;&nbsp; Flowserve |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.800%, 01/15/32 | 675000 | 538391 |
| &nbsp;&nbsp; Howmet Aerospace |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.000%, 01/15/29 | 495000 | 431887 |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
|  **CORPORATE OBLIGATIONS — continued** | **CORPORATE OBLIGATIONS — continued** | **CORPORATE OBLIGATIONS — continued** | **CORPORATE OBLIGATIONS — continued** | **CORPORATE OBLIGATIONS — continued** |
|  | **Face Amount** | **Face Amount** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Value**  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Value**  |
|  **INDUSTRIALS — continued** |  |  |  |  |
| &nbsp;&nbsp; Masco |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.500%, 08/15/32 | $| 317000 | &nbsp;&nbsp;&nbsp;&nbsp;$| 336768 |
| &nbsp;&nbsp; Northern Group Housing |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.605%, 08/15/33(B) |  | 506062 |  | 502824 |
| &nbsp;&nbsp; Parker-Hannifin |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.000%, 06/14/49 |  | 255000 |  | 218715 |
| &nbsp;&nbsp; Teledyne Technologies |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.250%, 04/01/28 |  | 420000 |  | 373427 |
| &nbsp;&nbsp; Westinghouse Air Brake Technologies |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.200%, 06/15/25 |  | 530000 |  | 501440 |
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5535132 |
|  **INFORMATION TECHNOLOGY — 1.6%** | **INFORMATION TECHNOLOGY — 1.6%** | **INFORMATION TECHNOLOGY — 1.6%** | **INFORMATION TECHNOLOGY — 1.6%** | **INFORMATION TECHNOLOGY — 1.6%** |
| &nbsp;&nbsp; Infor |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1.750%, 07/15/25(B) |  | 335000 |  | 304967 |
| &nbsp;&nbsp; Microsoft |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.921%, 03/17/52 |  | 270000 |  | 206443 |
| &nbsp;&nbsp; NXP BV |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.550%, 12/01/28 |  | 245000 |  | 251615 |
| &nbsp;&nbsp; Oracle |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.875%, 03/25/31 |  | 600000 |  | 516791 |
| &nbsp;&nbsp; Roper Technologies |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.950%, 09/15/29 |  | 420000 |  | 376787 |
| &nbsp;&nbsp; VMware |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1.800%, 08/15/28 |  | 625000 |  | 527000 |
| &nbsp;&nbsp; Vontier |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1.800%, 04/01/26 |  | 590000 |  | 512421 |
|  |  |  |  | 2696024 |
|  **MATERIALS — 2.0%** |  |  |  |  |
| &nbsp;&nbsp; Anglo American Capital |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.500%, 03/15/28(B) |  | 525000 |  | 512626 |
| &nbsp;&nbsp; Berry Global |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1.650%, 01/15/27 |  | 625000 |  | 546756 |
| &nbsp;&nbsp; CF Industries |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.500%, 12/01/26(B) |  | 520000 |  | 512849 |
| &nbsp;&nbsp; International Flavors & Fragrances |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.468%, 12/01/50(B) |  | 345000 |  | 255929 |
| &nbsp;&nbsp; Sealed Air |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1.573%, 10/15/26(B) |  | 835000 |  | 734581 |
| &nbsp;&nbsp; Silgan Holdings |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1.400%, 04/01/26(B) |  | 420000 |  | 375963 |
| &nbsp;&nbsp; Vulcan Materials |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.500%, 04/01/25 |  | 400000 |  | 397557 |
|  |  |  |  | 3336261 |
|  **REAL ESTATE — 1.8%** |  |  |  |  |
| &nbsp;&nbsp; Alexandria Real Estate Equities |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.000%, 05/18/32 |  | 745000 |  | 593999 |
| &nbsp;&nbsp; Camp Pendleton & Quantico Housing |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.165%, 10/01/50(B) |  | 400000 |  | 411478 |
| &nbsp;&nbsp; Extra Space Storage |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.350%, 03/15/32 |  | 730000 |  | 578405 |
| &nbsp;&nbsp; Safehold Operating Partnership |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.850%, 01/15/32 |  | 700000 |  | 551141 |

---

**6** 

------

---

| | |
|:---|:---|
| **THE ADVISORS' INNER CIRCLE FUND III** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **KNIGHTS OF COLUMBUS** <br> **CORE BOND FUND** <br> **JANUARY 31, 2023** <br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(Unaudited)**  |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
|  **CORPORATE OBLIGATIONS — continued** | **CORPORATE OBLIGATIONS — continued** | **CORPORATE OBLIGATIONS — continued** | **CORPORATE OBLIGATIONS — continued** | **CORPORATE OBLIGATIONS — continued** |
|  | **Face Amount** | **Face Amount** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Value**  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Value**  |
|  **REAL ESTATE — continued** |  |  |  |  |
| &nbsp;&nbsp; Store Capital |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.500%, 03/15/28 | $| 380000 | &nbsp;&nbsp;&nbsp;&nbsp;$| 350186 |
| &nbsp;&nbsp; UDR |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.000%, 08/15/31 |  | 560000 |  | 487992 |
|  |  |  |  | 2973201 |
|  **UTILITIES — 2.6%** |  |  |  |  |
| &nbsp;&nbsp; DPL |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.350%, 04/15/29 |  | 425000 |  | 388188 |
| &nbsp;&nbsp; Duquesne Light Holdings |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.532%, 10/01/30(B) |  | 540000 |  | 441973 |
| &nbsp;&nbsp; Emera US Finance |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.750%, 06/15/46 |  | 250000 |  | 210159 |
| &nbsp;&nbsp; IPALCO Enterprises |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.700%, 09/01/24 |  | 435000 |  | 423313 |
| &nbsp;&nbsp; Jersey Central Power & Light |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.750%, 03/01/32(B) |  | 670000 |  | 567013 |
| &nbsp;&nbsp; Monongahela Power |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.550%, 05/15/27(B) |  | 550000 |  | 525963 |
| &nbsp;&nbsp; NextEra Energy Capital Holdings |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1.900%, 06/15/28 |  | 1230000 |  | 1077197 |
| &nbsp;&nbsp; NiSource |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.650%, US Treas Yield Curve Rate T Note Const Mat 5 Yr + 2.843%(C)(D) |  | 385000 |  | 373472 |
| &nbsp;&nbsp; Spire |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.543%, 02/27/24 |  | 250000 |  | 245395 |
|  |  |  |  | 4252673 |
| &nbsp;&nbsp; Total Corporate Obligations |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (Cost $48,192,105) |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;42058740 |
|  **U.S. GOVERNMENT AGENCY MORTGAGE-BACKED OBLIGATIONS — 13.4%** | **U.S. GOVERNMENT AGENCY MORTGAGE-BACKED OBLIGATIONS — 13.4%** | **U.S. GOVERNMENT AGENCY MORTGAGE-BACKED OBLIGATIONS — 13.4%** | **U.S. GOVERNMENT AGENCY MORTGAGE-BACKED OBLIGATIONS — 13.4%** | **U.S. GOVERNMENT AGENCY MORTGAGE-BACKED OBLIGATIONS — 13.4%** |
| &nbsp;&nbsp; FHLMC |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.500%, 01/01/53 |  | 825000 |  | 840724 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.500%, 12/01/48 |  | 121538 |  | 122125 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.500%, 09/01/52 |  | 766321 |  | 756936 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.000%, 02/01/47 |  | 257245 |  | 253246 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.000%, 11/01/47 |  | 239779 |  | 236286 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.000%, 11/01/48 |  | 89995 |  | 88335 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.000%, 04/01/52 |  | 1397552 |  | 1352090 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.500%, 11/01/44 |  | 231166 |  | 222438 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.500%, 04/01/46 |  | 146855 |  | 140598 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.500%, 07/01/47 |  | 312986 |  | 299663 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.500%, 12/01/48 |  | 195737 |  | 187197 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.500%, 04/01/52 |  | 1052319 |  | 987360 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.000%, 02/01/45 |  | 250786 |  | 234153 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.000%, 08/01/45 |  | 123093 |  | 114655 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.000%, 02/01/48 |  | 146927 |  | 135546 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.000%, 04/01/50 |  | 507612 |  | 466228 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.500%, 02/01/30 |  | 148740 |  | 142373 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.000%, 08/01/50 |  | 1093113 |  | 923883 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.000%, 10/01/50 |  | 318849 |  | 269465 |
| &nbsp;&nbsp; FHLMC REMIC, Ser 2016-4563, Cl VB |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.000%, 05/15/39 |  | 80687 |  | 80150 |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
|  **U.S. GOVERNMENT AGENCY MORTGAGE-BACKED OBLIGATIONS — continued** | **U.S. GOVERNMENT AGENCY MORTGAGE-BACKED OBLIGATIONS — continued** | **U.S. GOVERNMENT AGENCY MORTGAGE-BACKED OBLIGATIONS — continued** | **U.S. GOVERNMENT AGENCY MORTGAGE-BACKED OBLIGATIONS — continued** | **U.S. GOVERNMENT AGENCY MORTGAGE-BACKED OBLIGATIONS — continued** |
|  | **Face Amount** | **Face Amount** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Value**  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Value**  |
| &nbsp;&nbsp; FHLMC Structured Pass-Through Certificates, Ser 2003-54, Cl 4A 3.881%, 02/25/43(C) | $| 71142 | &nbsp;&nbsp;&nbsp;&nbsp;$| 65713 |
| &nbsp;&nbsp; FNMA |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.000%, 12/01/52 |  | 824279 |  | 848233 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.000%, 09/01/52 |  | 752071 |  | 756154 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.000%, 01/01/53 |  | 825000 |  | 828169 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.500%, 02/01/41 |  | 362688 |  | 368588 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.500%, 03/01/48 |  | 234778 |  | 236446 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.000%, 03/01/35 |  | 101225 |  | 100262 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.000%, 01/01/42 |  | 257608 |  | 254516 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.000%, 05/01/49 |  | 222433 |  | 218706 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.500%, 02/01/47 |  | 261528 |  | 251871 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.500%, 12/01/47 |  | 133504 |  | 127369 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.500%, 08/01/48 |  | 136408 |  | 130166 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.500%, 03/01/49 |  | 241201 |  | 232161 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.500%, 06/01/49 |  | 524739 |  | 500620 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.500%, 07/01/50 |  | 829443 |  | 790622 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.000%, 10/01/48 |  | 242791 |  | 218998 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.000%, 02/01/50 |  | 1803373 |  | 1657464 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.000%, 05/01/51 |  | 1367151 |  | 1259566 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.000%, 03/01/52 |  | 1423999 |  | 1298093 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.500%, 12/01/49 |  | 350661 |  | 310303 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.500%, 09/01/50 |  | 724512 |  | 640733 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.500%, 06/01/51 |  | 1161134 |  | 1021187 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.000%, 10/01/50 |  | 886406 |  | 749179 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.000%, 02/01/51 |  | 652156 |  | 550569 |
| &nbsp;&nbsp; GNMA |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.000%, 07/20/48 |  | 99369 |  | 97660 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.500%, 06/20/48 |  | 595259 |  | 570209 |
| &nbsp;&nbsp; Total U.S. Government Agency<br>Mortgage-Backed Obligations<br>(Cost $23,661,615) |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;21937008 |
|  **MORTGAGE-BACKED SECURITIES — 10.0%** | **MORTGAGE-BACKED SECURITIES — 10.0%** | **MORTGAGE-BACKED SECURITIES — 10.0%** | **MORTGAGE-BACKED SECURITIES — 10.0%** | **MORTGAGE-BACKED SECURITIES — 10.0%** |
| &nbsp;&nbsp; Citigroup Commercial Mortgage Trust, Ser 2013-GC15, Cl A3 4.095%, 09/10/46 |  | 196805 |  | 195909 |
| &nbsp;&nbsp; COLT Mortgage Loan Trust, Ser 2022-4, Cl A1 4.301%, 03/25/67 (B)(C) |  | 949384 |  | 926975 |
| &nbsp;&nbsp; CSMC Trust, Ser 2013-IVR3, Cl A2 |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.000%, 05/25/43 (B)(C) |  | 148061 |  | 131479 |
| &nbsp;&nbsp; CSMC Trust, Ser 2015-2, Cl A18 |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.500%, 02/25/45 (B)(C) |  | 133341 |  | 121581 |
| &nbsp;&nbsp; First Republic Mortgage Trust, Ser 2020-1, Cl A5 2.884%, 04/25/50 (B)(C) |  | 404875 |  | 374238 |
| &nbsp;&nbsp; FREMF Mortgage Trust, Ser 2017- K65, Cl C |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.077%, 07/25/50 (B)(C) |  | 725000 |  | 682913 |
| &nbsp;&nbsp; FREMF Mortgage Trust, Ser 2017- K66, Cl C |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.038%, 07/25/27 (B)(C) |  | 175000 |  | 164056 |

---

**7** 

------

---

| | |
|:---|:---|
| **THE ADVISORS' INNER CIRCLE FUND III** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **KNIGHTS OF COLUMBUS** <br> **CORE BOND FUND** <br> **JANUARY 31, 2023** <br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(Unaudited)**  |

---

---

| | | |
|:---|:---|:---|
|  **MORTGAGE-BACKED SECURITIES — continued** | **MORTGAGE-BACKED SECURITIES — continued** | **MORTGAGE-BACKED SECURITIES — continued** |
|  | **Face Amount** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Value**  |
| &nbsp;&nbsp; FREMF Mortgage Trust, Ser 2017- K67, Cl B |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.946%, 09/25/49 (B)(C) | $1500000 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1423639 |
| &nbsp;&nbsp; FREMF Mortgage Trust, Ser 2019- K99, Cl C |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.645%, 10/25/52 (B)(C) | 750000 | 667058 |
| &nbsp;&nbsp; GMAC Commercial Mortgage Asset, Ser 2010-FTLS, Cl A |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.363%, 02/10/47 (B)(E) | 230186 | 250983 |
| &nbsp;&nbsp; GS Mortgage-Backed Securities Trust, Ser 2021-PJ1, Cl A8 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.500%, 05/28/52 (B)(C) | 1287114 | 1132711 |
| &nbsp;&nbsp; GS Mortgage-Backed Securities Trust, Ser 2022-MM1, Cl A8 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.500%, 07/25/52 (B)(C) | 1779148 | 1572998 |
| &nbsp;&nbsp; JP Morgan Mortgage Trust, Ser 2014-IVR6, Cl AM |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.349%, 07/25/44 (B)(C) | 32288 | 31866 |
| &nbsp;&nbsp; JP Morgan Mortgage Trust, Ser 2016-2, Cl A1 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.332%, 06/25/46 (B)(C) | 46968 | 43744 |
| &nbsp;&nbsp; JP Morgan Mortgage Trust, Ser 2016-5, Cl B3 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.411%, 12/25/46 (B)(C) | 310882 | 281830 |
| &nbsp;&nbsp; JP Morgan Mortgage Trust, Ser 2022-2, Cl A4A |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.500%, 08/25/52 (B)(C) | 1236184 | 1092947 |
| &nbsp;&nbsp; JP Morgan Mortgage Trust, Ser 2022-3, Cl A4A |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.500%, 08/25/52 (B)(C) | 1773941 | 1568395 |
| &nbsp;&nbsp; JP Morgan Mortgage Trust, Ser 2022-4, Cl A4 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.000%, 10/25/52 (B)(C) | 1916509 | 1743214 |
| &nbsp;&nbsp; JPMBB Commercial Mortgage Securities Trust, Ser 2015-C31, Cl ASB |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.540%, 08/15/48 | 256277 | 249219 |
| &nbsp;&nbsp; Rate Mortgage Trust, Ser 2022-J1, Cl A9 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.500%, 01/25/52 (B)(C) | 1306492 | 1155108 |
| &nbsp;&nbsp; RCKT Mortgage Trust, Ser 2022-3, Cl A5 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.000%, 05/25/52 (B)(C) | 1930157 | 1755629 |
| &nbsp;&nbsp; Seasoned Credit Risk Transfer Trust, Ser 2018-4, Cl MV |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.500%, 03/25/58 | 671895 | 630867 |
| &nbsp;&nbsp; Sequoia Mortgage Trust, Ser 2015- 1, Cl A1 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.500%, 01/25/45 (B)(C) | 25942 | 23849 |
| &nbsp;&nbsp; Sequoia Mortgage Trust, Ser 2015- 2, Cl A1 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.500%, 05/25/45 (B)(C) | 49533 | 45106 |
| &nbsp;&nbsp; Sequoia Mortgage Trust, Ser 2015- 4, Cl A1 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.000%, 11/25/30 (B)(C) | 64388 | 59514 |
| &nbsp;&nbsp; Total Mortgage-Backed Securities |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; (Cost $17,702,365) |  | 16325828 |

---

---

| | | | |
|:---|:---|:---|:---|
|  **MUNICIPAL BONDS — 2.2%** |  |  |  |
|  | **Face Amount** | **Face Amount** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Value**  |
| &nbsp;&nbsp; California State, City of Riverside, Ser A, RB |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.857%, 06/01/45 | $| 780000 | $666547 |
| &nbsp;&nbsp; Denver City & County, Housing Authority, Ser 2021-B, RB |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.104%, 02/01/39 |  | 300000 | 230183 |
| &nbsp;&nbsp; Grand Parkway Transportation, Ser B, RB |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.216%, 10/01/49 |  | 640000 | 491820 |
| &nbsp;&nbsp; Hawaii State, Department of Business Economic Development & Tourism, Ser A-2, RB |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.242%, 01/01/31 |  | 117977 | 111261 |
| &nbsp;&nbsp; Massachusetts State, Housing Finance Agency, Ser B, RB |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.350%, 12/01/40 |  | 200000 | 186359 |
| &nbsp;&nbsp; New York City, Housing Development, Ser D, RB |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.083%, 11/01/46 |  | 900000 | 641052 |
| &nbsp;&nbsp; New York State, Mortgage Agency, Ser 241, RB |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.930%, 10/01/46 |  | 700000 | 493376 |
| &nbsp;&nbsp; Rhode Island State, Housing and Mortgage Finance, Ser 1-T, RB |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.993%, 10/01/38 |  | 540000 | 432776 |
| &nbsp;&nbsp; Virginia State, Housing Development Authority, Ser C, RB |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.829%, 04/01/41 |  | 500000 | 382700 |
| &nbsp;&nbsp; Total Municipal Bonds (Cost $4,679,682) |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3636074 |
|  **ASSET-BACKED SECURITIES — 1.1%** | **ASSET-BACKED SECURITIES — 1.1%** | **ASSET-BACKED SECURITIES — 1.1%** | **ASSET-BACKED SECURITIES — 1.1%** |
| &nbsp;&nbsp; Benefit Street Partners CLO II, Ser 2021-IIA, Cl A2R2 |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.242%, ICE LIBOR USD 3 Month + 1.450%, 07/15/29 (B)(C) |  | 585000 | 577675 |
| &nbsp;&nbsp; RIN II, Ser 2019-1A, Cl A |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.385%, ICE LIBOR USD 3 Month + 1.650%, 09/10/30 (B)(C) |  | 600000 | 594622 |
| &nbsp;&nbsp; VCP CLO II, Ser 2021-2A, Cl B1 |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.042%, ICE LIBOR USD 3 Month + 2.250%, 04/15/31 (B)(C) |  | 650000 | 642032 |
| &nbsp;&nbsp; Total Asset-Backed Securities<br>(Cost $1,835,000) |  |  | 1814329 |
| &nbsp;&nbsp; Total Investments in Securities— 98.9%<br>(Cost $175,957,588) | &nbsp;&nbsp; Total Investments in Securities— 98.9%<br>(Cost $175,957,588) | &nbsp;&nbsp; Total Investments in Securities— 98.9%<br>(Cost $175,957,588) | $161649387 |

---

Percentages are based on Net Assets of $163,365,258.

(A) Zero coupon security. The rate shown on the Schedule of Investments is the security's effective yield at
the time of purchase.

**8** 

------

---

| | |
|:---|:---|
| **THE ADVISORS' INNER CIRCLE FUND III** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **KNIGHTS OF COLUMBUS** <br> **CORE BOND FUND** <br> **JANUARY 31, 2023** <br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(Unaudited)**  |

---

(B) Securities sold within the terms of a private placement memorandum, exempt from registration under section 144A
of the Securities Act of 1933, as amended, and maybe sold only to dealers in the program or other "accredited investors". The total value of these securities at January 31, 2023 was $30,828,484 and represented 18.9% of Net Assets.

(C) Variable or floating rate security. The rate shown is the effective interest rate as of period end. The rates on
certain securities are not based on published reference rates and spreads and are either determined by the issuer or agent based on current market conditions; by using a formula based on the rates of underlying loans; or by adjusting periodically
based on prevailing interest rates.

(D) Perpetual security with no stated maturity date.

(E) Level 3 security in accordance with fair value hierarchy.

See "Glossary" for abbreviations.

KOC-QH-001-1600

**9** 

------

---

| | |
|:---|:---|
| **THE ADVISORS' INNER CIRCLE FUND III** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **KNIGHTS OF COLUMBUS** <br> **LONG/SHORT EQUITY FUND** <br> **JANUARY 31, 2023** <br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(Unaudited)**  |

---

---

| | | |
|:---|:---|:---|
|  &nbsp;&nbsp;&nbsp;&nbsp;**SCHEDULE OF INVESTMENTS** | &nbsp;&nbsp;&nbsp;&nbsp;**SCHEDULE OF INVESTMENTS** | &nbsp;&nbsp;&nbsp;&nbsp;**SCHEDULE OF INVESTMENTS** |
|  &nbsp;&nbsp;&nbsp;&nbsp;**COMMON STOCK — 63.3%** | &nbsp;&nbsp;&nbsp;&nbsp;**COMMON STOCK — 63.3%** | &nbsp;&nbsp;&nbsp;&nbsp;**COMMON STOCK — 63.3%** |
|  | **Shares** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Value**  |
|  **COMMUNICATION SERVICES — 2.8%** | **COMMUNICATION SERVICES — 2.8%** | **COMMUNICATION SERVICES — 2.8%** |
| &nbsp;&nbsp; Alphabet, Cl A \* | 6375 | $630105 |
| &nbsp;&nbsp; Interpublic Group of Companies (A) | 11353 | 413930 |
| &nbsp;&nbsp; Meta Platforms, Cl A \* | 394 | 58694 |
| &nbsp;&nbsp; Omnicom Group (A) | 10847 | 932734 |
|  |  | 2035463 |
|  **CONSUMER DISCRETIONARY — 2.3%** | **CONSUMER DISCRETIONARY — 2.3%** | **CONSUMER DISCRETIONARY — 2.3%** |
| &nbsp;&nbsp; Best Buy | 4241 | 376262 |
| &nbsp;&nbsp; BorgWarner | 5583 | 263964 |
| &nbsp;&nbsp; Churchill Downs | 882 | 218824 |
| &nbsp;&nbsp; Expedia Group \* | 2732 | 312267 |
| &nbsp;&nbsp; Service International | 3058 | 226751 |
| &nbsp;&nbsp; Whirlpool | 1764 | 274461 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1672529 |
|  **CONSUMER STAPLES — 1.6%** | **CONSUMER STAPLES — 1.6%** | **CONSUMER STAPLES — 1.6%** |
| &nbsp;&nbsp; Albertsons, Cl A | 12131 | 257177 |
| &nbsp;&nbsp; Altria Group (A) | 4092 | 184304 |
| &nbsp;&nbsp; Philip Morris International (A) | 1837 | 191489 |
| &nbsp;&nbsp; Tyson Foods, Cl A | 7389 | 485827 |
|  |  | 1118797 |
|  **ENERGY — 3.7%** | **ENERGY — 3.7%** | **ENERGY — 3.7%** |
| &nbsp;&nbsp; ConocoPhillips (A) | 7104 | 865764 |
| &nbsp;&nbsp; Devon Energy | 3134 | 198194 |
| &nbsp;&nbsp; Exxon Mobil | 1765 | 204758 |
| &nbsp;&nbsp; HF Sinclair | 4338 | 246832 |
| &nbsp;&nbsp; Marathon Oil | 16151 | 443668 |
| &nbsp;&nbsp; Marathon Petroleum | 584 | 75056 |
| &nbsp;&nbsp; Noble PLC \* | 4839 | 196899 |
| &nbsp;&nbsp; Occidental Petroleum | 2237 | 144935 |
| &nbsp;&nbsp; Valero Energy | 1729 | 242112 |
|  |  | 2618218 |
|  **FINANCIALS — 17.5%** | **FINANCIALS — 17.5%** | **FINANCIALS — 17.5%** |
| &nbsp;&nbsp; Allstate (A) | 2957 | 379886 |
| &nbsp;&nbsp; American Financial Group (A) | 3592 | 512183 |
| &nbsp;&nbsp; Ameriprise Financial (A) | 4584 | 1604950 |
| &nbsp;&nbsp; Berkshire Hathaway, Cl B \*(A) | 4494 | 1399971 |
| &nbsp;&nbsp; Capital One Financial (A) | 8967 | 1067073 |
| &nbsp;&nbsp; Discover Financial Services (A) | 12660 | 1477802 |
| &nbsp;&nbsp; Fidelity National Financial | 25262 | 1112286 |
| &nbsp;&nbsp; Fifth Third Bancorp | 28204 | 1023523 |
| &nbsp;&nbsp; Goldman Sachs Group | 638 | 233387 |
| &nbsp;&nbsp; Morgan Stanley (A) | 11013 | 1071895 |
| &nbsp;&nbsp; Synchrony Financial | 29443 | 1081441 |
| &nbsp;&nbsp; Travelers | 6354 | 1214377 |
| &nbsp;&nbsp; US Bancorp | 6493 | 323351 |
|  |  | 12502125 |
|  **HEALTH CARE — 15.9%** | **HEALTH CARE — 15.9%** | **HEALTH CARE — 15.9%** |
| &nbsp;&nbsp; Amgen (A) | 5456 | 1377094 |
| &nbsp;&nbsp; Bristol-Myers Squibb (A) | 19845 | 1441739 |
| &nbsp;&nbsp; Bruker | 20444 | 1433533 |
| &nbsp;&nbsp; DaVita \*(A) | 2747 | 226325 |
| &nbsp;&nbsp; Gilead Sciences (A) | 16663 | 1398692 |
| &nbsp;&nbsp; Hologic \* | 18734 | 1524386 |
| &nbsp;&nbsp; Moderna \* | 4005 | 705120 |

---

---

| | | | |
|:---|:---|:---|:---|
|  **COMMON STOCK — continued** | |  |  |
|  | <br> **Shares** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Value**  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Value**  |
|  **HEALTH CARE— continued** |  |  |  |
| &nbsp;&nbsp; Quest Diagnostics | 2099 | &nbsp;&nbsp;&nbsp;&nbsp;$| 311660 |
| &nbsp;&nbsp; Royalty Pharma PLC, Cl A (A) | 36530 |  | 1431611 |
| &nbsp;&nbsp; United Therapeutics \* | 580 |  | 152639 |
| &nbsp;&nbsp; Waters \* | 4119 |  | 1353421 |
|  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11356220 |
|  **INDUSTRIALS — 2.1%** |  |  |  |
| &nbsp;&nbsp; Owens Corning (A) | 14005 |  | 1353583 |
| &nbsp;&nbsp; Textron | 2444 |  | 178046 |
|  |  |  | 1531629 |
|  **INFORMATION TECHNOLOGY — 10.3%** | **INFORMATION TECHNOLOGY — 10.3%** | **INFORMATION TECHNOLOGY — 10.3%** | **INFORMATION TECHNOLOGY — 10.3%** |
| &nbsp;&nbsp; Apple (A) | 4513 |  | 651181 |
| &nbsp;&nbsp; Broadcom (A) | 1290 |  | 754663 |
| &nbsp;&nbsp; Check Point Software Technologies \*(A) | 5111 |  | 650119 |
| &nbsp;&nbsp; Cisco Systems | 2229 |  | 108485 |
| &nbsp;&nbsp; FleetCor Technologies \* | 1197 |  | 249946 |
| &nbsp;&nbsp; GoDaddy, Cl A \* | 4353 |  | 357512 |
| &nbsp;&nbsp; Hewlett Packard Enterprise | 6207 |  | 100119 |
| &nbsp;&nbsp; Jabil | 4315 |  | 339288 |
| &nbsp;&nbsp; KLA | 468 |  | 183681 |
| &nbsp;&nbsp; Micron Technology (A) | 7272 |  | 438502 |
| &nbsp;&nbsp; Microsoft (A) | 1000 |  | 247810 |
| &nbsp;&nbsp; NetApp (A) | 19627 |  | 1299896 |
| &nbsp;&nbsp; NXP Semiconductors | 1572 |  | 289735 |
| &nbsp;&nbsp; QUALCOMM (A) | 517 |  | 68870 |
| &nbsp;&nbsp; Seagate Technology Holdings PLC (A) | 11411 |  | 773438 |
| &nbsp;&nbsp; Teradyne | 2464 |  | 250589 |
| &nbsp;&nbsp; VMware, Cl A \*(A) | 5148 |  | 630475 |
|  |  |  | 7394309 |
|  **MATERIALS — 6.8%** |  |  |  |
| &nbsp;&nbsp; CF Industries Holdings (A) | 7492 |  | 634572 |
| &nbsp;&nbsp; Dow | 23259 |  | 1380422 |
| &nbsp;&nbsp; Freeport-McMoRan | 10517 |  | 469268 |
| &nbsp;&nbsp; LyondellBasell Industries, Cl A | 1345 |  | 130048 |
| &nbsp;&nbsp; Nucor | 2594 |  | 438438 |
| &nbsp;&nbsp; Sealed Air | 8475 |  | 464091 |
| &nbsp;&nbsp; Steel Dynamics | 8117 |  | 979235 |
| &nbsp;&nbsp; Westlake | 2792 |  | 342718 |
|  |  |  | 4838792 |
|  **UTILITIES — 0.3%** |  |  |  |
| &nbsp;&nbsp; NRG Energy | 7368 |  | 252133 |
| &nbsp;&nbsp; Total Common Stock<br>(Cost $42,309,347) |  |  | 45320215 |
|  &nbsp;&nbsp;&nbsp;&nbsp;**EXCHANGE TRADED FUNDS — 5.0%** | &nbsp;&nbsp;&nbsp;&nbsp;**EXCHANGE TRADED FUNDS — 5.0%** | &nbsp;&nbsp;&nbsp;&nbsp;**EXCHANGE TRADED FUNDS — 5.0%** | &nbsp;&nbsp;&nbsp;&nbsp;**EXCHANGE TRADED FUNDS — 5.0%** |
| &nbsp;&nbsp; iShares S&P/TSX Capped Energy Index ETF | 80844 |  | 985524 |
| &nbsp;&nbsp; Materials Select Sector SPDR Fund | 28709 |  | 2430217 |

---

**10** 

------

---

| | |
|:---|:---|
| **THE ADVISORS' INNER CIRCLE FUND III** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **KNIGHTS OF COLUMBUS** <br> **LONG/SHORT EQUITY FUND** <br> **JANUARY 31, 2023** <br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(Unaudited)**  |

---

---

| | | |
|:---|:---|:---|
|  **EXCHANGE TRADED FUNDS — continued** | **EXCHANGE TRADED FUNDS — continued** | **EXCHANGE TRADED FUNDS — continued** |
|  | **Shares** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Value**  |
| &nbsp;&nbsp; SPDR S&P Oil & Gas Equipment & Services ETF | 2309 | $202199 |
| &nbsp;&nbsp; Total Exchange Traded Funds<br>(Cost $3,169,419) |  | 3617940 |
| &nbsp;&nbsp; Total Investments in Securities— 68.3%<br>(Cost $45,478,766) | &nbsp;&nbsp; Total Investments in Securities— 68.3%<br>(Cost $45,478,766) | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;48938155 |
|  **SECURITIES SOLD SHORT**<br> **COMMON STOCK — (19.9)%** | **SECURITIES SOLD SHORT**<br> **COMMON STOCK — (19.9)%** | **SECURITIES SOLD SHORT**<br> **COMMON STOCK — (19.9)%** |
|  | **Shares** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Value**  |
|  **COMMUNICATION SERVICES — (2.0)%** | **COMMUNICATION SERVICES — (2.0)%** | **COMMUNICATION SERVICES — (2.0)%** |
| &nbsp;&nbsp; Netflix \* | (482) | $(170560) |
| &nbsp;&nbsp; Snap, Cl A \* | (15789) | (182521) |
| &nbsp;&nbsp; Trade Desk, Cl A \* | (18049) | (915084) |
| &nbsp;&nbsp; Walt Disney \* | (1591) | (172608) |
|  |  | (1440773) |
|  **CONSUMER DISCRETIONARY — (1.9)%** | **CONSUMER DISCRETIONARY — (1.9)%** | **CONSUMER DISCRETIONARY — (1.9)%** |
| &nbsp;&nbsp; Chewy, Cl A \* | (7475) | (336823) |
| &nbsp;&nbsp; DoorDash, Cl A \* | (2963) | (171617) |
| &nbsp;&nbsp; Floor & Decor Holdings, Cl A \* | (3441) | (312340) |
| &nbsp;&nbsp; Tesla \* | (3226) | (558808) |
|  |  | (1379588) |
|  **FINANCIALS — (0.6)%** |  |  |
| &nbsp;&nbsp; NU Holdings, Cl A \* | (99764) | (463903) |
|  **HEALTH CARE — (3.6)%** |  |  |
| &nbsp;&nbsp; Catalent \* | (14267) | (763998) |
| &nbsp;&nbsp; Illumina \* | (1147) | (245687) |
| &nbsp;&nbsp; Insulet \* | (501) | (143947) |
| &nbsp;&nbsp; Penumbra \* | (2467) | (617761) |
| &nbsp;&nbsp; R1 RCM \* | (13290) | (190180) |
| &nbsp;&nbsp; ResMed | (2604) | (594676) |
|  |  | (2556249) |
|  **INDUSTRIALS — (0.6)%** |  |  |
| &nbsp;&nbsp; Chart Industries \* | (615) | (82398) |
| &nbsp;&nbsp; Generac Holdings \* | (1439) | (173543) |
| &nbsp;&nbsp; Uber Technologies \* | (5588) | (172837) |
|  |  | (428778) |
|  **INFORMATION TECHNOLOGY — (9.3)%** | **INFORMATION TECHNOLOGY — (9.3)%** | **INFORMATION TECHNOLOGY — (9.3)%** |
| &nbsp;&nbsp; Advanced Micro Devices \* | (3193) | (239954) |
| &nbsp;&nbsp; Affirm Holdings, Cl A \* | (15391) | (249180) |
| &nbsp;&nbsp; Atlassian, Cl A \* | (4493) | (726159) |
| &nbsp;&nbsp; Block, Cl A \* | (10068) | (822757) |
| &nbsp;&nbsp; Cloudflare, Cl A \* | (7895) | (417724) |
| &nbsp;&nbsp; Crowdstrike Holdings, Cl A \* | (5329) | (564341) |
| &nbsp;&nbsp; Datadog, Cl A \* | (3500) | (261835) |
| &nbsp;&nbsp; Gitlab, Cl A \* | (3329) | (164486) |
| &nbsp;&nbsp; Marvell Technology | (3931) | (169623) |
| &nbsp;&nbsp; MongoDB, Cl A \* | (2994) | (641345) |
| &nbsp;&nbsp; Snowflake, Cl A \* | (1649) | (257970) |
| &nbsp;&nbsp; SolarEdge Technologies \* | (3304) | (1054405) |
| &nbsp;&nbsp; Toast, Cl A \* | (8099) | (180689) |
| &nbsp;&nbsp; Twilio, Cl A \* | (2818) | (168629) |
| &nbsp;&nbsp; Tyler Technologies \* | (1720) | (555164) |

---

---

| | | |
|:---|:---|:---|
|  **COMMON STOCK — continued** | **COMMON STOCK — continued** | **COMMON STOCK — continued** |
|  | **Shares** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Value**  |
|  **INFORMATION TECHNOLOGY— continued** | **INFORMATION TECHNOLOGY— continued** | **INFORMATION TECHNOLOGY— continued** |
| &nbsp;&nbsp; Unity Software \* | (5222) | $(185485) |
|  |  | (6659746) |
|  **MATERIALS — (0.4)%** |  |  |
| &nbsp;&nbsp; Albemarle | (942) | (265126) |
|  **UTILITIES — (1.5)%** |  |  |
| &nbsp;&nbsp; CMS Energy | (8594) | (543055) |
| &nbsp;&nbsp; Public Service Enterprise Group | (8854) | (548328) |
|  |  | (1091383) |
|  Total Common Stock |  |  |
| &nbsp;&nbsp; (Proceeds $13,206,074) |  | (14285546) |
|  **EXCHANGE TRADED FUNDS — (22.5)%** | **EXCHANGE TRADED FUNDS — (22.5)%** | **EXCHANGE TRADED FUNDS — (22.5)%** |
| &nbsp;&nbsp; iShares Russell 3000 ETF | (19027) | (4483903) |
| &nbsp;&nbsp; Vanguard Russell 1000 Value | (165750) | (11595870) |
| &nbsp;&nbsp; Total Exchange Traded Funds<br>(Proceeds $16,290,575) |  | (16079773) |
| &nbsp;&nbsp; Total Securities Sold Short— (42.4)%<br>(Proceeds $29,496,649) | &nbsp;&nbsp; Total Securities Sold Short— (42.4)%<br>(Proceeds $29,496,649) | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(30365319) |

---

Percentages are based on Net Assets of $71,606,013.

\* Non-income producing security.

(A) This security or a partial position of this security has been committed as collateral for securities sold short.

See "Glossary" for abbreviations.

KOC-QH-007-0700

**11** 

------

---

| | |
|:---|:---|
| **THE ADVISORS' INNER CIRCLE FUND III** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **KNIGHTS OF COLUMBUS** <br> **LARGE CAP VALUE FUND** <br> **JANUARY 31, 2023** <br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(Unaudited)**  |

---

---

| | | |
|:---|:---|:---|
|  &nbsp;&nbsp;&nbsp;&nbsp;**SCHEDULE OF INVESTMENTS** | &nbsp;&nbsp;&nbsp;&nbsp;**SCHEDULE OF INVESTMENTS** |  |
|  &nbsp;&nbsp;&nbsp;&nbsp;**COMMON STOCK — 95.3%** | &nbsp;&nbsp;&nbsp;&nbsp;**COMMON STOCK — 95.3%** |  |
|  | **Shares** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Value**  |
|  **COMMUNICATION SERVICES — 4.3%** | **COMMUNICATION SERVICES — 4.3%** |  |
| &nbsp;&nbsp; Alphabet, Cl A \* | 26756 | $2644563 |
| &nbsp;&nbsp; Electronic Arts | 13958 | 1796115 |
| &nbsp;&nbsp; Meta Platforms, Cl A \* | 12541 | 1868233 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6308911 |
|  **CONSUMER DISCRETIONARY — 5.1%** | **CONSUMER DISCRETIONARY — 5.1%** |  |
| &nbsp;&nbsp; General Motors | 38384 | 1509259 |
| &nbsp;&nbsp; Lennar, Cl A | 22640 | 2318336 |
| &nbsp;&nbsp; TJX | 19722 | 1614443 |
| &nbsp;&nbsp; Tractor Supply | 9222 | 2102524 |
|  |  | 7544562 |
|  **CONSUMER STAPLES — 8.6%** | **CONSUMER STAPLES — 8.6%** |  |
| &nbsp;&nbsp; General Mills | 35695 | 2797060 |
| &nbsp;&nbsp; Hershey | 8040 | 1805784 |
| &nbsp;&nbsp; Molson Coors Beverage, Cl B | 25288 | 1329643 |
| &nbsp;&nbsp; Monster Beverage \* | 19252 | 2003748 |
| &nbsp;&nbsp; PepsiCo | 13356 | 2284143 |
| &nbsp;&nbsp; Procter & Gamble | 17031 | 2424874 |
|  |  | 12645252 |
|  **ENERGY — 9.2%** | **ENERGY — 9.2%** |  |
| &nbsp;&nbsp; Canadian Natural Resources | 46543 | 2859602 |
| &nbsp;&nbsp; ConocoPhillips | 31266 | 3810387 |
| &nbsp;&nbsp; Exxon Mobil | 36853 | 4275317 |
| &nbsp;&nbsp; Pioneer Natural Resources | 10803 | 2488471 |
|  |  | 13433777 |
|  **FINANCIALS — 20.9%** | **FINANCIALS — 20.9%** |  |
| &nbsp;&nbsp; Allstate | 18292 | 2349973 |
| &nbsp;&nbsp; Ameriprise Financial | 7355 | 2575133 |
| &nbsp;&nbsp; Berkshire Hathaway, Cl B \* | 16141 | 5028244 |
| &nbsp;&nbsp; Citizens Financial Group | 46641 | 2020488 |
| &nbsp;&nbsp; First Horizon | 99676 | 2464988 |
| &nbsp;&nbsp; Hartford Financial Services Group | 39303 | 3050306 |
| &nbsp;&nbsp; JPMorgan Chase | 12826 | 1795127 |
| &nbsp;&nbsp; Morgan Stanley | 31132 | 3030078 |
| &nbsp;&nbsp; Prudential Financial | 20759 | 2178449 |
| &nbsp;&nbsp; State Street | 24610 | 2247631 |
| &nbsp;&nbsp; Toronto-Dominion Bank | 25082 | 1736176 |
| &nbsp;&nbsp; Wells Fargo | 45306 | 2123492 |
|  |  | 30600085 |
|  **HEALTH CARE — 13.3%** | **HEALTH CARE — 13.3%** |  |
| &nbsp;&nbsp; Amgen | 11103 | 2802398 |
| &nbsp;&nbsp; Boston Scientific \* | 32777 | 1515936 |
| &nbsp;&nbsp; Bristol-Myers Squibb | 50025 | 3634316 |
| &nbsp;&nbsp; Eli Lilly | 9708 | 3341008 |
| &nbsp;&nbsp; Jazz Pharmaceuticals PLC \* | 9376 | 1468844 |
| &nbsp;&nbsp; Quest Diagnostics | 17915 | 2660019 |
| &nbsp;&nbsp; Select Medical Holdings | 68519 | 1991848 |
| &nbsp;&nbsp; STERIS PLC | 10098 | 2085338 |
|  |  | 19499707 |
|  **INDUSTRIALS — 11.8%** | **INDUSTRIALS — 11.8%** |  |
| &nbsp;&nbsp; AECOM | 38762 | 3382760 |
| &nbsp;&nbsp; Copart \* | 23210 | 1546018 |
| &nbsp;&nbsp; CSX | 70527 | 2180695 |
| &nbsp;&nbsp; Cummins | 8586 | 2142551 |

---

---

| | | |
|:---|:---|:---|
|  **COMMON STOCK — continued** | |  |
|  | <br> **Shares** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Value**  |
|  **INDUSTRIALS— continued** |  |  |
| &nbsp;&nbsp; Emerson Electric | 24675 | $2226178 |
| &nbsp;&nbsp; Quanta Services | 17157 | 2611124 |
| &nbsp;&nbsp; United Rentals | 7175 | 3163816 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;17253142 |
|  **INFORMATION TECHNOLOGY — 5.0%** | **INFORMATION TECHNOLOGY — 5.0%** |  |
| &nbsp;&nbsp; Dell Technologies, Cl C | 39763 | 1615173 |
| &nbsp;&nbsp; Intel | 28949 | 818099 |
| &nbsp;&nbsp; Microsoft | 7076 | 1753503 |
| &nbsp;&nbsp; Salesforce \* | 7000 | 1175790 |
| &nbsp;&nbsp; Visa, Cl A | 8851 | 2037589 |
|  |  | 7400154 |
|  **MATERIALS — 4.3%** |  |  |
| &nbsp;&nbsp; Mosaic | 36748 | 1820496 |
| &nbsp;&nbsp; Sealed Air | 42723 | 2339511 |
| &nbsp;&nbsp; Steel Dynamics | 18312 | 2209160 |
|  |  | 6369167 |
|  **REAL ESTATE — 5.8%** |  |  |
| &nbsp;&nbsp; Extra Space Storage ‡ | 11867 | 1872969 |
| &nbsp;&nbsp; Host Hotels & Resorts ‡ | 114923 | 2166298 |
| &nbsp;&nbsp; Iron Mountain ‡ | 37664 | 2055701 |
| &nbsp;&nbsp; Lamar Advertising, Cl A ‡ | 22715 | 2420056 |
|  |  | 8515024 |
|  **UTILITIES — 7.0%** |  |  |
| &nbsp;&nbsp; Constellation Energy | 15886 | 1356029 |
| &nbsp;&nbsp; Entergy | 17973 | 1946116 |
| &nbsp;&nbsp; Exelon | 47671 | 2011240 |
| &nbsp;&nbsp; FirstEnergy | 38572 | 1579523 |
| &nbsp;&nbsp; Fortis | 37139 | 1528270 |
| &nbsp;&nbsp; Vistra | 77319 | 1782976 |
|  |  | 10204154 |
| &nbsp;&nbsp; Total Common Stock<br>(Cost $115,304,336) |  | 139773935 |
| &nbsp;&nbsp; Total Investments in Securities— 95.3%<br>(Cost $115,304,336) | &nbsp;&nbsp; Total Investments in Securities— 95.3%<br>(Cost $115,304,336) | $139773935 |

---

Percentages are based on Net Assets of $146,724,485.

\* Non-income producing security.

‡ Real Estate Investment Trust.

See "Glossary" for abbreviations.

KOC-QH-004-1600

**12** 

------

---

| | |
|:---|:---|
| **THE ADVISORS' INNER CIRCLE FUND III** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **KNIGHTS OF COLUMBUS** <br> **LARGE CAP GROWTH FUND** <br> **JANUARY 31, 2023** <br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(Unaudited)**  |

---

---

| | | |
|:---|:---|:---|
|  &nbsp;&nbsp;&nbsp;&nbsp;**SCHEDULE OF INVESTMENTS** | &nbsp;&nbsp;&nbsp;&nbsp;**SCHEDULE OF INVESTMENTS** |  |
|  &nbsp;&nbsp;&nbsp;&nbsp;**COMMON STOCK — 94.7%#** | &nbsp;&nbsp;&nbsp;&nbsp;**COMMON STOCK — 94.7%#** |  |
|  | **Shares** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Value**  |
|  **COMMUNICATION SERVICES — 7.0%** | **COMMUNICATION SERVICES — 7.0%** |  |
| &nbsp;&nbsp; Alphabet, Cl A \* | 48008 | $4745111 |
| &nbsp;&nbsp; Alphabet, Cl C \* | 31599 | 3155792 |
| &nbsp;&nbsp; Meta Platforms, Cl A \* | 3220 | 479684 |
| &nbsp;&nbsp; Netflix \* | 1433 | 507081 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8887668 |
|  **CONSUMER DISCRETIONARY — 15.1%** | **CONSUMER DISCRETIONARY — 15.1%** |  |
| &nbsp;&nbsp; AutoZone \* | 644 | 1570619 |
| &nbsp;&nbsp; Darden Restaurants | 8885 | 1314714 |
| &nbsp;&nbsp; Expedia Group \* | 8240 | 941832 |
| &nbsp;&nbsp; Home Depot | 4084 | 1323910 |
| &nbsp;&nbsp; Lowe's | 9673 | 2014402 |
| &nbsp;&nbsp; Lululemon Athletica \* | 4514 | 1385256 |
| &nbsp;&nbsp; Marriott International, Cl A | 11393 | 1984433 |
| &nbsp;&nbsp; NIKE, Cl B | 8407 | 1070463 |
| &nbsp;&nbsp; Tesla \* | 17340 | 3003635 |
| &nbsp;&nbsp; TJX | 23001 | 1882862 |
| &nbsp;&nbsp; Tractor Supply | 6319 | 1440669 |
| &nbsp;&nbsp; Ulta Beauty \* | 2221 | 1141505 |
|  |  | 19074300 |
|  **CONSUMER STAPLES — 6.8%** | **CONSUMER STAPLES — 6.8%** |  |
| &nbsp;&nbsp; BJ's Wholesale Club Holdings \* | 22141 | 1604558 |
| &nbsp;&nbsp; Coca-Cola | 20779 | 1274169 |
| &nbsp;&nbsp; Darling Ingredients \* | 9171 | 607946 |
| &nbsp;&nbsp; PepsiCo | 16910 | 2891948 |
| &nbsp;&nbsp; Procter & Gamble | 15190 | 2162752 |
|  |  | 8541373 |
|  **ENERGY — 1.8%** | **ENERGY — 1.8%** |  |
| &nbsp;&nbsp; Cheniere Energy | 6233 | 952340 |
| &nbsp;&nbsp; Pioneer Natural Resources | 5589 | 1287426 |
|  |  | 2239766 |
|  **FINANCIALS — 1.3%** | **FINANCIALS — 1.3%** |  |
| &nbsp;&nbsp; American Express | 9028 | 1579268 |
|  **HEALTH CARE — 11.3%** | **HEALTH CARE — 11.3%** |  |
| &nbsp;&nbsp; Align Technology \* | 3726 | 1005014 |
| &nbsp;&nbsp; AmerisourceBergen, Cl A | 6821 | 1152476 |
| &nbsp;&nbsp; Amgen | 7119 | 1796836 |
| &nbsp;&nbsp; Boston Scientific \* | 28590 | 1322287 |
| &nbsp;&nbsp; Bristol-Myers Squibb | 14716 | 1069117 |
| &nbsp;&nbsp; Eli Lilly | 7168 | 2466867 |
| &nbsp;&nbsp; Exact Sciences \* | 9682 | 653729 |
| &nbsp;&nbsp; Intuitive Surgical \* | 2426 | 596044 |
| &nbsp;&nbsp; Jazz Pharmaceuticals PLC \* | 3765 | 589825 |
| &nbsp;&nbsp; Neurocrine Biosciences \* | 3204 | 355420 |
| &nbsp;&nbsp; Seagen \* | 5445 | 759469 |
| &nbsp;&nbsp; STERIS PLC | 6233 | 1287177 |
| &nbsp;&nbsp; Zoetis, Cl A | 7380 | 1221316 |
|  |  | 14275577 |
|  **INDUSTRIALS — 6.1%** | **INDUSTRIALS — 6.1%** |  |
| &nbsp;&nbsp; Caterpillar | 6663 | 1681008 |
| &nbsp;&nbsp; Deere | 1934 | 817773 |
| &nbsp;&nbsp; Generac Holdings \* | 4802 | 579121 |
| &nbsp;&nbsp; Howmet Aerospace | 36902 | 1501542 |
| &nbsp;&nbsp; KBR | 18200 | 932386 |

---

---

| | | |
|:---|:---|:---|
|  **COMMON STOCK — continued** | |  |
|  | <br> **Shares** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Value**  |
|  **INDUSTRIALS— continued** |  |  |
| &nbsp;&nbsp; Waste Management | 9816 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1518830 |
| &nbsp;&nbsp; WESCO International \* | 4509 | 671886 |
|  |  | 7702546 |
|  **INFORMATION TECHNOLOGY — 42.3%** | **INFORMATION TECHNOLOGY — 42.3%** |  |
| &nbsp;&nbsp; Accenture PLC, Cl A | 6663 | 1859310 |
| &nbsp;&nbsp; Adobe \* | 3152 | 1167312 |
| &nbsp;&nbsp; Apple | 104615 | 15094898 |
| &nbsp;&nbsp; Broadcom | 3009 | 1760295 |
| &nbsp;&nbsp; Dynatrace \* | 21782 | 837082 |
| &nbsp;&nbsp; Fiserv \* | 11822 | 1261171 |
| &nbsp;&nbsp; Keysight Technologies \* | 4762 | 854065 |
| &nbsp;&nbsp; KLA | 4084 | 1602888 |
| &nbsp;&nbsp; Mastercard, Cl A | 6018 | 2230271 |
| &nbsp;&nbsp; Microchip Technology | 19275 | 1496125 |
| &nbsp;&nbsp; Microsoft | 51376 | 12731487 |
| &nbsp;&nbsp; NVIDIA | 16337 | 3191760 |
| &nbsp;&nbsp; ON Semiconductor \* | 20994 | 1542009 |
| &nbsp;&nbsp; Paycom Software \* | 3797 | 1230000 |
| &nbsp;&nbsp; PayPal Holdings \* | 12539 | 1021803 |
| &nbsp;&nbsp; ServiceNow \* | 2866 | 1304403 |
| &nbsp;&nbsp; Visa, Cl A | 18056 | 4156672 |
|  |  | 53341551 |
|  **MATERIALS — 1.5%** |  |  |
| &nbsp;&nbsp; Chemours | 23216 | 844830 |
| &nbsp;&nbsp; Linde PLC | 3152 | 1043123 |
|  |  | 1887953 |
|  **REAL ESTATE — 1.5%** |  |  |
| &nbsp;&nbsp; Iron Mountain ‡ | 35683 | 1947578 |
| &nbsp;&nbsp; Total Common Stock<br>(Cost $110,013,366) |  | 119477580 |
| &nbsp;&nbsp; Total Investments in Securities— 94.7%<br>(Cost $110,013,366) | &nbsp;&nbsp; Total Investments in Securities— 94.7%<br>(Cost $110,013,366) | $119477580 |

---

Percentages are based on Net Assets of $126,177,937.

\* Non-income producing security.

‡ Real Estate Investment Trust.

# More narrow industries are utilized for compliance purposes, whereas broad sectors are utilized for reporting purposes.

See "Glossary" for abbreviations.

KOC-QH-003-1600

**13** 

------

---

| | |
|:---|:---|
| **THE ADVISORS' INNER CIRCLE FUND III** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **KNIGHTS OF COLUMBUS** <br> **SMALL CAP FUND** <br> **JANUARY 31, 2023** <br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(Unaudited)**  |

---

---

| | | |
|:---|:---|:---|
|  &nbsp;&nbsp;&nbsp;&nbsp;**SCHEDULE OF INVESTMENTS** | &nbsp;&nbsp;&nbsp;&nbsp;**SCHEDULE OF INVESTMENTS** |  |
|  &nbsp;&nbsp;&nbsp;&nbsp;**COMMON STOCK — 96.1%** | &nbsp;&nbsp;&nbsp;&nbsp;**COMMON STOCK — 96.1%** |  |
|  | **Shares** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Value**  |
|  **COMMUNICATION SERVICES — 2.5%** | **COMMUNICATION SERVICES — 2.5%** |  |
| &nbsp;&nbsp; Cars.com \* | 75669 | $1293940 |
| &nbsp;&nbsp; Sciplay, Cl A \* | 71893 | 1221462 |
| &nbsp;&nbsp; TechTarget \* | 14151 | 700899 |
|  |  | 3216301 |
|  **CONSUMER DISCRETIONARY — 8.4%** | **CONSUMER DISCRETIONARY — 8.4%** |  |
| &nbsp;&nbsp; Adient PLC \* | 20712 | 932454 |
| &nbsp;&nbsp; Bally's \* | 20489 | 407116 |
| &nbsp;&nbsp; Bloomin' Brands | 35386 | 858110 |
| &nbsp;&nbsp; Boot Barn Holdings \* | 13230 | 1104573 |
| &nbsp;&nbsp; Boyd Gaming | 21231 | 1322904 |
| &nbsp;&nbsp; Crocs \* | 7210 | 877962 |
| &nbsp;&nbsp; Dana | 47742 | 866040 |
| &nbsp;&nbsp; Hibbett | 10849 | 719940 |
| &nbsp;&nbsp; KB Home | 46185 | 1775813 |
| &nbsp;&nbsp; Lovesac \* | 14265 | 367181 |
| &nbsp;&nbsp; Texas Roadhouse, Cl A | 8595 | 863196 |
| &nbsp;&nbsp; YETI Holdings \* | 10572 | 473203 |
| &nbsp;&nbsp; Zumiez \* | 19371 | 500353 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11068845 |
|  **CONSUMER STAPLES — 5.2%** | **CONSUMER STAPLES — 5.2%** |  |
| &nbsp;&nbsp; Edgewell Personal Care | 52404 | 2246035 |
| &nbsp;&nbsp; Hostess Brands, Cl A \* | 28611 | 661773 |
| &nbsp;&nbsp; MGP Ingredients | 6565 | 640350 |
| &nbsp;&nbsp; Primo Water | 70434 | 1102292 |
| &nbsp;&nbsp; Sprouts Farmers Market \* | 66873 | 2136592 |
|  |  | 6787042 |
|  **ENERGY — 6.8%** | **ENERGY — 6.8%** |  |
| &nbsp;&nbsp; Chord Energy | 16038 | 2298727 |
| &nbsp;&nbsp; Civitas Resources | 20960 | 1394888 |
| &nbsp;&nbsp; Crescent Point Energy | 112839 | 841779 |
| &nbsp;&nbsp; Magnolia Oil & Gas, Cl A | 103190 | 2436316 |
| &nbsp;&nbsp; Matador Resources | 15496 | 1025215 |
| &nbsp;&nbsp; Permian Resources, Cl A | 93377 | 1015008 |
|  |  | 9011933 |
|  **FINANCIALS — 15.4%** | **FINANCIALS — 15.4%** |  |
| &nbsp;&nbsp; American Equity Investment Life Holding | 27135 | 1292983 |
| &nbsp;&nbsp; Axis Capital Holdings | 16114 | 1008253 |
| &nbsp;&nbsp; ConnectOne Bancorp | 38085 | 905281 |
| &nbsp;&nbsp; Customers Bancorp \* | 16865 | 512190 |
| &nbsp;&nbsp; Enterprise Financial Services | 22035 | 1174906 |
| &nbsp;&nbsp; Essent Group | 19757 | 869901 |
| &nbsp;&nbsp; FirstCash Holdings | 11729 | 1081179 |
| &nbsp;&nbsp; Hancock Whitney | 26411 | 1359638 |
| &nbsp;&nbsp; Merchants Bancorp | 24975 | 718516 |
| &nbsp;&nbsp; Metropolitan Bank Holding \* | 12611 | 748841 |
| &nbsp;&nbsp; OceanFirst Financial | 49675 | 1188226 |
| &nbsp;&nbsp; OFG Bancorp | 44617 | 1263107 |
| &nbsp;&nbsp; Old Second Bancorp | 74466 | 1265177 |
| &nbsp;&nbsp; Piper Sandler | 7397 | 1051114 |
| &nbsp;&nbsp; Popular | 14772 | 1013950 |
| &nbsp;&nbsp; QCR Holdings | 24503 | 1287878 |
| &nbsp;&nbsp; Stifel Financial | 17337 | 1168687 |
| &nbsp;&nbsp; Washington Federal | 32598 | 1155925 |

---

---

| | | |
|:---|:---|:---|
|  **COMMON STOCK — continued** | |  |
|  | <br> **Shares** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Value**  |
|  **FINANCIALS— continued** |  |  |
| &nbsp;&nbsp; Wintrust Financial | 13354 | $1221491 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20287243 |
|  **HEALTH CARE — 14.5%** |  |  |
| &nbsp;&nbsp; Affimed \* | 97785 | 126143 |
| &nbsp;&nbsp; Apellis Pharmaceuticals \* | 7819 | 412296 |
| &nbsp;&nbsp; Castle Biosciences \* | 10563 | 286046 |
| &nbsp;&nbsp; CONMED | 7550 | 722988 |
| &nbsp;&nbsp; Editas Medicine, Cl A \* | 10504 | 103885 |
| &nbsp;&nbsp; Ensign Group | 10977 | 1023605 |
| &nbsp;&nbsp; Fate Therapeutics \* | 11824 | 70471 |
| &nbsp;&nbsp; Guardant Health \* | 6189 | 194520 |
| &nbsp;&nbsp; Halozyme Therapeutics \* | 31878 | 1650324 |
| &nbsp;&nbsp; ICU Medical \* | 4388 | 847893 |
| &nbsp;&nbsp; Inmode \* | 32886 | 1152654 |
| &nbsp;&nbsp; Insmed \* | 40547 | 872977 |
| &nbsp;&nbsp; Integer Holdings \* | 10936 | 719698 |
| &nbsp;&nbsp; Intellia Therapeutics \* | 7611 | 323011 |
| &nbsp;&nbsp; Intra-Cellular Therapies \* | 9789 | 469089 |
| &nbsp;&nbsp; Lantheus Holdings \* | 7192 | 413540 |
| &nbsp;&nbsp; LHC Group \* | 7131 | 1130977 |
| &nbsp;&nbsp; Merit Medical Systems \* | 16621 | 1185908 |
| &nbsp;&nbsp; NextGen Healthcare \* | 63277 | 1203528 |
| &nbsp;&nbsp; NuVasive \* | 33098 | 1509269 |
| &nbsp;&nbsp; PTC Therapeutics \* | 11729 | 538244 |
| &nbsp;&nbsp; Shockwave Medical \* | 3670 | 689703 |
| &nbsp;&nbsp; Surface Oncology \* | 115930 | 108302 |
| &nbsp;&nbsp; UFP Technologies \* | 3223 | 366552 |
| &nbsp;&nbsp; Varex Imaging \* | 72003 | 1547344 |
| &nbsp;&nbsp; Vericel \* | 48148 | 1322626 |
|  |  | 18991593 |
|  **INDUSTRIALS — 17.6%** |  |  |
| &nbsp;&nbsp; Allied Motion Technologies | 14851 | 603545 |
| &nbsp;&nbsp; Altra Industrial Motion | 19070 | 1164605 |
| &nbsp;&nbsp; Aris Water Solutions, Cl A | 74082 | 1147530 |
| &nbsp;&nbsp; ASGN \* | 10200 | 927690 |
| &nbsp;&nbsp; Atkore \* | 7566 | 985471 |
| &nbsp;&nbsp; Casella Waste Systems, Cl A \* | 11878 | 951665 |
| &nbsp;&nbsp; Comfort Systems USA | 9653 | 1168399 |
| &nbsp;&nbsp; CSW Industrials | 4949 | 669154 |
| &nbsp;&nbsp; EMCOR Group | 1863 | 276190 |
| &nbsp;&nbsp; Great Lakes Dredge & Dock \* | 68299 | 469897 |
| &nbsp;&nbsp; H&E Equipment Services | 25859 | 1315965 |
| &nbsp;&nbsp; Helios Technologies | 12624 | 833184 |
| &nbsp;&nbsp; Herc Holdings | 5016 | 779085 |
| &nbsp;&nbsp; KBR | 10758 | 551132 |
| &nbsp;&nbsp; Maxar Technologies | 17898 | 924790 |
| &nbsp;&nbsp; McGrath RentCorp | 11914 | 1185920 |
| &nbsp;&nbsp; MYR Group \* | 20586 | 2039249 |
| &nbsp;&nbsp; Science Applications International | 8540 | 886281 |
| &nbsp;&nbsp; Shyft Group | 31844 | 1060087 |
| &nbsp;&nbsp; SP Plus \* | 26651 | 1005009 |
| &nbsp;&nbsp; Sterling Infrastructure \* | 37012 | 1346867 |
| &nbsp;&nbsp; SunPower, Cl A \* | 34841 | 607279 |
| &nbsp;&nbsp; Triton International | 21495 | 1518407 |

---

**14** 

------

---

| | |
|:---|:---|
| **THE ADVISORS' INNER CIRCLE FUND III** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **KNIGHTS OF COLUMBUS** <br> **SMALL CAP FUND** <br> **JANUARY 31, 2023** <br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(Unaudited)**  |

---

---

| | | |
|:---|:---|:---|
|  **COMMON STOCK — continued** | **COMMON STOCK — continued** |  |
|  | **Shares** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Value**  |
|  **INDUSTRIALS— continued** | **INDUSTRIALS— continued** |  |
| &nbsp;&nbsp; WESCO International \* | 4327 | $644766 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;23062167 |
|  **INFORMATION TECHNOLOGY — 9.4%** | **INFORMATION TECHNOLOGY — 9.4%** |  |
| &nbsp;&nbsp; Belden | 9938 | 805872 |
| &nbsp;&nbsp; Box, Cl A \* | 15286 | 488999 |
| &nbsp;&nbsp; DigitalOcean Holdings \* | 16414 | 481751 |
| &nbsp;&nbsp; Fabrinet \* | 2739 | 360617 |
| &nbsp;&nbsp; Five9 \* | 5282 | 416116 |
| &nbsp;&nbsp; FormFactor \* | 28412 | 799514 |
| &nbsp;&nbsp; Instructure Holdings \* | 64464 | 1742462 |
| &nbsp;&nbsp; MACOM Technology Solutions Holdings \* | 12296 | 824078 |
| &nbsp;&nbsp; Mitek Systems \* | 57402 | 565984 |
| &nbsp;&nbsp; Perficient \* | 18529 | 1373740 |
| &nbsp;&nbsp; Rapid7 \* | 11341 | 452166 |
| &nbsp;&nbsp; Silicon Laboratories \* | 6207 | 973940 |
| &nbsp;&nbsp; Sprout Social, Cl A \* | 11315 | 723820 |
| &nbsp;&nbsp; SPS Commerce \* | 5909 | 804097 |
| &nbsp;&nbsp; Viavi Solutions \* | 68494 | 773982 |
| &nbsp;&nbsp; Workiva, Cl A \* | 8684 | 751426 |
|  |  | 12338564 |
|  **MATERIALS — 5.4%** | **MATERIALS — 5.4%** |  |
| &nbsp;&nbsp; ATI \* | 33109 | 1204836 |
| &nbsp;&nbsp; Greif, Cl A | 17898 | 1278454 |
| &nbsp;&nbsp; Livent \* | 29529 | 765392 |
| &nbsp;&nbsp; Summit Materials, Cl A \* | 73777 | 2424312 |
| &nbsp;&nbsp; Tronox Holdings PLC, Cl A | 81425 | 1396439 |
|  |  | 7069433 |
|  **REAL ESTATE — 8.4%** | **REAL ESTATE — 8.4%** |  |
| &nbsp;&nbsp; Apple Hospitality ‡ | 71050 | 1259716 |
| &nbsp;&nbsp; Armada Hoffler Properties ‡ | 79437 | 1007261 |
| &nbsp;&nbsp; Corporate Office Properties Trust ‡ | 44617 | 1252399 |
| &nbsp;&nbsp; National Storage Affiliates Trust ‡ | 23352 | 952762 |
| &nbsp;&nbsp; Plymouth Industrial ‡ | 43760 | 979349 |
| &nbsp;&nbsp; Ryman Hospitality Properties ‡ | 9490 | 881526 |
| &nbsp;&nbsp; STAG Industrial ‡ | 37115 | 1321294 |
| &nbsp;&nbsp; Tanger Factory Outlet Centers ‡ | 85962 | 1642734 |
| &nbsp;&nbsp; UMH Properties ‡ | 98862 | 1771607 |
|  |  | 11068648 |
|  **UTILITIES — 2.5%** | **UTILITIES — 2.5%** |  |
| &nbsp;&nbsp; Clearway Energy, Cl C | 61724 | 2085654 |
| &nbsp;&nbsp; Southwest Gas Holdings | 17302 | 1158023 |
|  |  | 3243677 |
| &nbsp;&nbsp; Total Common Stock<br>(Cost $112,701,628) | &nbsp;&nbsp; Total Common Stock<br>(Cost $112,701,628) | 126145446 |
| &nbsp;&nbsp; Total Investments in Securities— 96.1%<br>(Cost $112,701,628) | &nbsp;&nbsp; Total Investments in Securities— 96.1%<br>(Cost $112,701,628) | $126145446 |

---

Percentages are based on Net Assets of $131,221,653.

\* Non-income producing security.

‡ Real Estate Investment Trust.

See "Glossary" for abbreviations.

KOC-QH-005-1600

**15** 

------

---

| | |
|:---|:---|
| **THE ADVISORS' INNER CIRCLE FUND III** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **KNIGHTS OF COLUMBUS** <br> **U.S. ALL CAP INDEX FUND** <br> **JANUARY 31, 2023** <br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(Unaudited)**  |

---

---

| | | |
|:---|:---|:---|
|  &nbsp;&nbsp;&nbsp;&nbsp;**SCHEDULE OF INVESTMENTS** | &nbsp;&nbsp;&nbsp;&nbsp;**SCHEDULE OF INVESTMENTS** | &nbsp;&nbsp;&nbsp;&nbsp;**SCHEDULE OF INVESTMENTS** |
|  &nbsp;&nbsp;&nbsp;&nbsp;**COMMON STOCK — 95.2%#** | &nbsp;&nbsp;&nbsp;&nbsp;**COMMON STOCK — 95.2%#** | &nbsp;&nbsp;&nbsp;&nbsp;**COMMON STOCK — 95.2%#** |
|  | **Shares** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Value**  |
|  **COMMUNICATION SERVICES — 8.2%** | **COMMUNICATION SERVICES — 8.2%** | **COMMUNICATION SERVICES — 8.2%** |
| &nbsp;&nbsp; Activision Blizzard | 1672 | $128025 |
| &nbsp;&nbsp; Alphabet, Cl A \* | 13627 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1346893 |
| &nbsp;&nbsp; Alphabet, Cl C \* | 12262 | 1224606 |
| &nbsp;&nbsp; Altice USA, Cl A \* | 405 | 1985 |
| &nbsp;&nbsp; AMC Entertainment Holdings,<br>Cl A \* | 1177 | 6297 |
| &nbsp;&nbsp; AMC Networks, Cl A \* | 54 | 1000 |
| &nbsp;&nbsp; Anterix \* | 36 | 1299 |
| &nbsp;&nbsp; AT&T | 16244 | 330890 |
| &nbsp;&nbsp; ATN International | 21 | 1026 |
| &nbsp;&nbsp; Bandwidth, Cl A \* | 41 | 1020 |
| &nbsp;&nbsp; Boston Omaha, Cl A \* | 55 | 1455 |
| &nbsp;&nbsp; Bumble, Cl A \* | 159 | 4094 |
| &nbsp;&nbsp; Cable One | 10 | 7899 |
| &nbsp;&nbsp; Cardlytics \* | 63 | 473 |
| &nbsp;&nbsp; Cargurus, Cl A \* | 173 | 3053 |
| &nbsp;&nbsp; Cars.com \* | 121 | 2069 |
| &nbsp;&nbsp; Charter Communications, Cl A \* | 255 | 97999 |
| &nbsp;&nbsp; Cinemark Holdings \* | 213 | 2543 |
| &nbsp;&nbsp; Clear Channel Outdoor Holdings, Cl A \* | 917 | 1751 |
| &nbsp;&nbsp; Cogent Communications Holdings | 84 | 5760 |
| &nbsp;&nbsp; Comcast, Cl A | 9974 | 392477 |
| &nbsp;&nbsp; Consolidated Communications Holdings \* | 143 | 622 |
| &nbsp;&nbsp; Daily Journal \* | 2 | 612 |
| &nbsp;&nbsp; DHI Group \* | 82 | 487 |
| &nbsp;&nbsp; DISH Network, Cl A \* | 569 | 8188 |
| &nbsp;&nbsp; EchoStar, Cl A \* | 65 | 1216 |
| &nbsp;&nbsp; Electronic Arts | 594 | 76436 |
| &nbsp;&nbsp; Endeavor Group Holdings, Cl A \* | 408 | 9151 |
| &nbsp;&nbsp; Entravision Communications, Cl A | 113 | 735 |
| &nbsp;&nbsp; Eventbrite, Cl A \* | 150 | 1334 |
| &nbsp;&nbsp; EW Scripps, Cl A \* | 114 | 1704 |
| &nbsp;&nbsp; Fox | 686 | 23283 |
| &nbsp;&nbsp; Frontier Communications Parent \* | 501 | 14835 |
| &nbsp;&nbsp; fuboTV \* | 327 | 840 |
| &nbsp;&nbsp; Globalstar \* | 1357 | 1913 |
| &nbsp;&nbsp; Gogo \* | 128 | 2147 |
| &nbsp;&nbsp; Gray Television | 146 | 1892 |
| &nbsp;&nbsp; IAC \* | 178 | 10057 |
| &nbsp;&nbsp; IDT, Cl B \* | 33 | 970 |
| &nbsp;&nbsp; iHeartMedia \* | 231 | 1790 |
| &nbsp;&nbsp; Integral Ad Science Holding \* | 63 | 648 |
| &nbsp;&nbsp; Interpublic Group of Companies | 888 | 32376 |
| &nbsp;&nbsp; Iridium Communications | 259 | 15499 |
| &nbsp;&nbsp; John Wiley & Sons, Cl A | 84 | 3847 |
| &nbsp;&nbsp; Liberty Broadband, Cl C \* | 279 | 25049 |
| &nbsp;&nbsp; Live Nation Entertainment \* | 324 | 26079 |
| &nbsp;&nbsp; Lumen Technologies \* | 2342 | 12296 |
| &nbsp;&nbsp; Madison Square Garden Entertainment \* | 50 | 2615 |
| &nbsp;&nbsp; Madison Square Garden Sports \* | 30 | 5455 |

---

---

| | | | |
|:---|:---|:---|:---|
|  **COMMON STOCK — continued** | **COMMON STOCK — continued** | **COMMON STOCK — continued** | **COMMON STOCK — continued** |
|  | **Shares** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Value**  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Value**  |
|  **COMMUNICATION SERVICES— continued** | **COMMUNICATION SERVICES— continued** | **COMMUNICATION SERVICES— continued** | **COMMUNICATION SERVICES— continued** |
| &nbsp;&nbsp; Magnite \* | 225 | &nbsp;&nbsp;&nbsp;&nbsp;$| 2718 |
| &nbsp;&nbsp; Marcus | 43 |  | 651 |
| &nbsp;&nbsp; Match Group \* | 643 |  | 34799 |
| &nbsp;&nbsp; MediaAlpha, Cl A \* | 44 |  | 614 |
| &nbsp;&nbsp; Meta Platforms, Cl A \* | 5167 |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;769728 |
| &nbsp;&nbsp; Netflix \* | 999 |  | 353506 |
| &nbsp;&nbsp; New York Times, Cl A | 369 |  | 12856 |
| &nbsp;&nbsp; News | 873 |  | 17687 |
| &nbsp;&nbsp; Nexstar Media Group, Cl A | 85 |  | 17405 |
| &nbsp;&nbsp; Nextdoor Holdings \* | 204 |  | 502 |
| &nbsp;&nbsp; NII Holdings \*(A) | 46 |  | 100 |
| &nbsp;&nbsp; Omnicom Group | 460 |  | 39555 |
| &nbsp;&nbsp; Ooma \* | 43 |  | 618 |
| &nbsp;&nbsp; Pinterest, Cl A \* | 1312 |  | 34492 |
| &nbsp;&nbsp; Playstudios \* | 157 |  | 725 |
| &nbsp;&nbsp; PubMatic, Cl A \* | 75 |  | 1150 |
| &nbsp;&nbsp; QuinStreet \* | 95 |  | 1456 |
| &nbsp;&nbsp; Quotient Technology \* | 169 |  | 684 |
| &nbsp;&nbsp; Radius Global Infrastructure, Cl A \* | 171 |  | 2303 |
| &nbsp;&nbsp; ROBLOX, Cl A \* | 938 |  | 34903 |
| &nbsp;&nbsp; Roku, Cl A \* | 274 |  | 15755 |
| &nbsp;&nbsp; Scholastic | 56 |  | 2477 |
| &nbsp;&nbsp; Shenandoah Telecommunications | 94 |  | 1838 |
| &nbsp;&nbsp; Shutterstock | 47 |  | 3538 |
| &nbsp;&nbsp; Sinclair Broadcast Group, Cl A | 83 |  | 1712 |
| &nbsp;&nbsp; Sirius XM Holdings | 1544 |  | 8940 |
| &nbsp;&nbsp; Skillz, Cl A \* | 514 |  | 411 |
| &nbsp;&nbsp; Snap, Cl A \* | 2359 |  | 27270 |
| &nbsp;&nbsp; Stagwell \* | 200 |  | 1404 |
| &nbsp;&nbsp; Take-Two Interactive Software \* | 351 |  | 39695 |
| &nbsp;&nbsp; TechTarget \* | 52 |  | 2576 |
| &nbsp;&nbsp; TEGNA | 505 |  | 10065 |
| &nbsp;&nbsp; Telephone and Data Systems | 195 |  | 2607 |
| &nbsp;&nbsp; Thryv Holdings \* | 63 |  | 1409 |
| &nbsp;&nbsp; T-Mobile US \* | 1267 |  | 189176 |
| &nbsp;&nbsp; Trade Desk, Cl A \* | 1003 |  | 50852 |
| &nbsp;&nbsp; TripAdvisor \* | 192 |  | 4474 |
| &nbsp;&nbsp; United States Cellular \* | 29 |  | 709 |
| &nbsp;&nbsp; Verizon Communications | 9584 |  | 398407 |
| &nbsp;&nbsp; Vimeo \* | 278 |  | 1262 |
| &nbsp;&nbsp; Walt Disney \* | 4155 |  | 450776 |
| &nbsp;&nbsp; Warner Bros Discovery \* | 5045 |  | 74773 |
| &nbsp;&nbsp; Warner Music Group, Cl A | 264 |  | 9623 |
| &nbsp;&nbsp; WideOpenWest \* | 104 |  | 1195 |
| &nbsp;&nbsp; World Wrestling Entertainment, Cl A | 97 |  | 8208 |
| &nbsp;&nbsp; Yelp, Cl A \* | 128 |  | 4033 |
| &nbsp;&nbsp; Ziff Davis \* | 105 |  | 9395 |
| &nbsp;&nbsp; ZipRecruiter, Cl A \* | 78 |  | 1532 |
| &nbsp;&nbsp; ZoomInfo Technologies, Cl A \* | 669 |  | 18886 |
|  |  |  | 6514140 |
|  **CONSUMER DISCRETIONARY — 9.0%** | **CONSUMER DISCRETIONARY — 9.0%** | **CONSUMER DISCRETIONARY — 9.0%** | **CONSUMER DISCRETIONARY — 9.0%** |
| &nbsp;&nbsp; 2U \* | 144 |  | 1243 |
| &nbsp;&nbsp; Aaron's | 59 |  | 864 |

---

**16** 

------

---

| | |
|:---|:---|
| **THE ADVISORS' INNER CIRCLE FUND III** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **KNIGHTS OF COLUMBUS** <br> **U.S. ALL CAP INDEX FUND** <br> **JANUARY 31, 2023** <br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(Unaudited)**  |

---

---

| | | |
|:---|:---|:---|
|  **COMMON STOCK — continued** | |  |
|  | <br> **Shares** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Value**  |
|  **CONSUMER DISCRETIONARY— continued** | **CONSUMER DISCRETIONARY— continued** | **CONSUMER DISCRETIONARY— continued** |
| &nbsp;&nbsp; Abercrombie & Fitch, Cl A \* | 91 | $2635 |
| &nbsp;&nbsp; Academy Sports & Outdoors | 179 | 10457 |
| &nbsp;&nbsp; Accel Entertainment, Cl A \* | 119 | 1097 |
| &nbsp;&nbsp; Acushnet Holdings | 62 | 2911 |
| &nbsp;&nbsp; Adient PLC \* | 214 | 9634 |
| &nbsp;&nbsp; Adtalem Global Education \* | 87 | 3322 |
| &nbsp;&nbsp; Advance Auto Parts | 136 | 20710 |
| &nbsp;&nbsp; Airbnb, Cl A \* | 871 | 96777 |
| &nbsp;&nbsp; Allbirds, Cl A \* | 182 | 501 |
| &nbsp;&nbsp; American Axle & Manufacturing Holdings \* | 215 | 1907 |
| &nbsp;&nbsp; American Eagle Outfitters \* | 336 | 5423 |
| &nbsp;&nbsp; American Public Education \* | 35 | 424 |
| &nbsp;&nbsp; America's Car-Mart \* | 11 | 948 |
| &nbsp;&nbsp; Aramark | 585 | 26050 |
| &nbsp;&nbsp; Arko | 130 | 1091 |
| &nbsp;&nbsp; Asbury Automotive Group \* | 50 | 11000 |
| &nbsp;&nbsp; AutoNation \* | 83 | 10518 |
| &nbsp;&nbsp; AutoZone \* | 43 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;104871 |
| &nbsp;&nbsp; Bally's \* | 74 | 1470 |
| &nbsp;&nbsp; Bath & Body Works | 507 | 23327 |
| &nbsp;&nbsp; Beazer Homes USA \* | 57 | 933 |
| &nbsp;&nbsp; Bed Bath & Beyond \* | 150 | 423 |
| &nbsp;&nbsp; Best Buy | 457 | 40545 |
| &nbsp;&nbsp; Big 5 Sporting Goods | 41 | 410 |
| &nbsp;&nbsp; Big Lots | 52 | 851 |
| &nbsp;&nbsp; Biglari Holdings, Cl B \* | 4 | 652 |
| &nbsp;&nbsp; BJ's Restaurants \* | 45 | 1421 |
| &nbsp;&nbsp; Bloomin' Brands | 167 | 4050 |
| &nbsp;&nbsp; Bluegreen Vacations Holding, Cl A | 22 | 714 |
| &nbsp;&nbsp; Booking Holdings \* | 90 | 219069 |
| &nbsp;&nbsp; Boot Barn Holdings \* | 58 | 4842 |
| &nbsp;&nbsp; BorgWarner | 537 | 25389 |
| &nbsp;&nbsp; Bowlero \* | 182 | 2502 |
| &nbsp;&nbsp; Boyd Gaming | 172 | 10717 |
| &nbsp;&nbsp; Bright Horizons Family Solutions \* | 130 | 9981 |
| &nbsp;&nbsp; Brinker International \* | 84 | 3315 |
| &nbsp;&nbsp; Brunswick | 167 | 14083 |
| &nbsp;&nbsp; Buckle | 59 | 2596 |
| &nbsp;&nbsp; Burlington Stores \* | 149 | 34245 |
| &nbsp;&nbsp; Caesars Entertainment \* | 467 | 24312 |
| &nbsp;&nbsp; Caleres | 68 | 1769 |
| &nbsp;&nbsp; Camping World Holdings, Cl A | 74 | 1880 |
| &nbsp;&nbsp; Canoo \* | 305 | 366 |
| &nbsp;&nbsp; Capri Holdings \* | 307 | 20412 |
| &nbsp;&nbsp; CarMax \* | 359 | 25292 |
| &nbsp;&nbsp; Carnival \* | 2228 | 24107 |
| &nbsp;&nbsp; CarParts.com \* | 98 | 668 |
| &nbsp;&nbsp; Carriage Services, Cl A | 25 | 810 |
| &nbsp;&nbsp; Carter's | 74 | 6169 |
| &nbsp;&nbsp; Carvana, Cl A \* | 187 | 1902 |
| &nbsp;&nbsp; Cavco Industries \* | 16 | 4258 |
| &nbsp;&nbsp; Century Communities | 56 | 3427 |
| &nbsp;&nbsp; Cheesecake Factory | 96 | 3768 |
| &nbsp;&nbsp; Chegg \* | 280 | 5813 |

---

---

| | | |
|:---|:---|:---|
|  **COMMON STOCK — continued** | |  |
|  | <br> **Shares** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Value**  |
|  **CONSUMER DISCRETIONARY— continued** | **CONSUMER DISCRETIONARY— continued** | **CONSUMER DISCRETIONARY— continued** |
| &nbsp;&nbsp; Chewy, Cl A \* | 212 | $9553 |
| &nbsp;&nbsp; Chico's FAS \* | 236 | 1244 |
| &nbsp;&nbsp; Children's Place \* | 24 | 1089 |
| &nbsp;&nbsp; Chipotle Mexican Grill, Cl A \* | 63 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;103722 |
| &nbsp;&nbsp; Choice Hotels International | 83 | 10200 |
| &nbsp;&nbsp; Churchill Downs | 76 | 18856 |
| &nbsp;&nbsp; Chuy's Holdings \* | 37 | 1267 |
| &nbsp;&nbsp; Clarus | 49 | 492 |
| &nbsp;&nbsp; Columbia Sportswear | 63 | 6042 |
| &nbsp;&nbsp; ContextLogic, Cl A \* | 932 | 641 |
| &nbsp;&nbsp; Coursera \* | 169 | 2696 |
| &nbsp;&nbsp; Cracker Barrel Old Country Store | 43 | 4798 |
| &nbsp;&nbsp; Cricut, Cl A \* | 75 | 734 |
| &nbsp;&nbsp; Crocs \* | 135 | 16439 |
| &nbsp;&nbsp; Dana | 279 | 5061 |
| &nbsp;&nbsp; Darden Restaurants | 278 | 41136 |
| &nbsp;&nbsp; Dave & Buster's Entertainment \* | 92 | 3988 |
| &nbsp;&nbsp; Deckers Outdoor \* | 59 | 25221 |
| &nbsp;&nbsp; Denny's \* | 109 | 1310 |
| &nbsp;&nbsp; Designer Brands, Cl A | 98 | 1010 |
| &nbsp;&nbsp; Destination XL Group \* | 114 | 813 |
| &nbsp;&nbsp; Dick's Sporting Goods | 121 | 15822 |
| &nbsp;&nbsp; Dillard's, Cl A | 21 | 8260 |
| &nbsp;&nbsp; Dine Brands Global | 29 | 2242 |
| &nbsp;&nbsp; Dollar General | 514 | 120070 |
| &nbsp;&nbsp; Dollar Tree \* | 505 | 75841 |
| &nbsp;&nbsp; Domino's Pizza | 80 | 28240 |
| &nbsp;&nbsp; DoorDash, Cl A \* | 577 | 33420 |
| &nbsp;&nbsp; Dorman Products \* | 51 | 4950 |
| &nbsp;&nbsp; DR Horton | 708 | 69873 |
| &nbsp;&nbsp; DraftKings, Cl A \* | 866 | 12988 |
| &nbsp;&nbsp; Dream Finders Homes, Cl A \* | 41 | 518 |
| &nbsp;&nbsp; Duolingo, Cl A \* | 50 | 4775 |
| &nbsp;&nbsp; Dutch Bros, Cl A \* | 68 | 2591 |
| &nbsp;&nbsp; eBay | 1251 | 61925 |
| &nbsp;&nbsp; Ethan Allen Interiors | 45 | 1293 |
| &nbsp;&nbsp; Etsy \* | 285 | 39210 |
| &nbsp;&nbsp; European Wax Center, Cl A \* | 51 | 961 |
| &nbsp;&nbsp; Everi Holdings \* | 172 | 2988 |
| &nbsp;&nbsp; EVgo \* | 133 | 916 |
| &nbsp;&nbsp; Expedia Group \* | 345 | 39434 |
| &nbsp;&nbsp; Fisker \* | 319 | 2377 |
| &nbsp;&nbsp; Five Below \* | 123 | 24247 |
| &nbsp;&nbsp; Floor & Decor Holdings, Cl A \* | 233 | 21149 |
| &nbsp;&nbsp; Foot Locker | 181 | 7875 |
| &nbsp;&nbsp; Ford Motor | 8998 | 121563 |
| &nbsp;&nbsp; Fox Factory Holding \* | 97 | 11455 |
| &nbsp;&nbsp; Franchise Group | 54 | 1668 |
| &nbsp;&nbsp; Frontdoor \* | 159 | 4322 |
| &nbsp;&nbsp; Funko, Cl A \* | 60 | 726 |
| &nbsp;&nbsp; GameStop, Cl A \* | 583 | 12750 |
| &nbsp;&nbsp; Gap | 394 | 5346 |
| &nbsp;&nbsp; Garmin | 352 | 34806 |
| &nbsp;&nbsp; General Motors | 3236 | 127240 |
| &nbsp;&nbsp; Genesco \* | 24 | 1159 |
| &nbsp;&nbsp; Gentex | 535 | 15788 |

---

**17** 

------

---

| | |
|:---|:---|
| **THE ADVISORS' INNER CIRCLE FUND III** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **KNIGHTS OF COLUMBUS** <br> **U.S. ALL CAP INDEX FUND** <br> **JANUARY 31, 2023** <br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(Unaudited)**  |

---

---

| | | |
|:---|:---|:---|
|  **COMMON STOCK — continued** | **COMMON STOCK — continued** | **COMMON STOCK — continued** |
|  | **Shares** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Value**  |
|  **CONSUMER DISCRETIONARY— continued** | **CONSUMER DISCRETIONARY— continued** | **CONSUMER DISCRETIONARY— continued** |
| &nbsp;&nbsp; Gentherm \* | 64 | $4764 |
| &nbsp;&nbsp; Genuine Parts | 316 | 53031 |
| &nbsp;&nbsp; G-III Apparel Group \* | 81 | 1371 |
| &nbsp;&nbsp; Golden Entertainment \* | 38 | 1501 |
| &nbsp;&nbsp; Goodyear Tire & Rubber \* | 643 | 7234 |
| &nbsp;&nbsp; GoPro, Cl A \* | 248 | 1525 |
| &nbsp;&nbsp; Graham Holdings, Cl B | 7 | 4573 |
| &nbsp;&nbsp; Grand Canyon Education \* | 71 | 8276 |
| &nbsp;&nbsp; Green Brick Partners \* | 85 | 2652 |
| &nbsp;&nbsp; Group 1 Automotive | 30 | 6416 |
| &nbsp;&nbsp; Guess? | 55 | 1274 |
| &nbsp;&nbsp; H&R Block | 359 | 13994 |
| &nbsp;&nbsp; Hanesbrands \* | 678 | 5722 |
| &nbsp;&nbsp; Harley-Davidson | 331 | 15236 |
| &nbsp;&nbsp; Hasbro | 291 | 17218 |
| &nbsp;&nbsp; Haverty Furniture | 26 | 908 |
| &nbsp;&nbsp; Helen of Troy \* | 47 | 5316 |
| &nbsp;&nbsp; Hibbett | 23 | 1526 |
| &nbsp;&nbsp; Hilton Grand Vacations \* | 192 | 9093 |
| &nbsp;&nbsp; Hilton Worldwide Holdings | 615 | 89230 |
| &nbsp;&nbsp; Home Depot | 2331 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;755640 |
| &nbsp;&nbsp; Hyatt Hotels, Cl A \* | 112 | 12221 |
| &nbsp;&nbsp; Inspired Entertainment \* | 48 | 715 |
| &nbsp;&nbsp; Installed Building Products | 46 | 5064 |
| &nbsp;&nbsp; International Game Technology PLC | 200 | 5290 |
| &nbsp;&nbsp; iRobot \* | 52 | 2340 |
| &nbsp;&nbsp; Jack in the Box | 41 | 3115 |
| &nbsp;&nbsp; Johnson Outdoors, Cl A | 16 | 1095 |
| &nbsp;&nbsp; KB Home | 163 | 6267 |
| &nbsp;&nbsp; Kohl's | 253 | 8190 |
| &nbsp;&nbsp; Kontoor Brands | 107 | 5110 |
| &nbsp;&nbsp; Krispy Kreme | 127 | 1549 |
| &nbsp;&nbsp; Kura Sushi USA, Cl A \* | 8 | 497 |
| &nbsp;&nbsp; Las Vegas Sands \* | 745 | 43955 |
| &nbsp;&nbsp; Laureate Education, Cl A \* | 207 | 2273 |
| &nbsp;&nbsp; La-Z-Boy | 84 | 2388 |
| &nbsp;&nbsp; LCI Industries | 48 | 5387 |
| &nbsp;&nbsp; Lear | 135 | 19680 |
| &nbsp;&nbsp; Leggett & Platt | 299 | 10931 |
| &nbsp;&nbsp; Lennar, Cl A | 569 | 58266 |
| &nbsp;&nbsp; Leslie's \* | 311 | 4817 |
| &nbsp;&nbsp; Levi Strauss, Cl A | 180 | 3312 |
| &nbsp;&nbsp; LGI Homes \* | 40 | 4554 |
| &nbsp;&nbsp; Life Time Group Holdings \* | 89 | 1672 |
| &nbsp;&nbsp; Light & Wonder \* | 213 | 13898 |
| &nbsp;&nbsp; Lindblad Expeditions Holdings \* | 67 | 797 |
| &nbsp;&nbsp; Liquidity Services \* | 53 | 794 |
| &nbsp;&nbsp; Lithia Motors, Cl A | 62 | 16318 |
| &nbsp;&nbsp; LKQ | 623 | 36732 |
| &nbsp;&nbsp; LL Flooring Holdings \* | 56 | 339 |
| &nbsp;&nbsp; Lordstown Motors, Cl A \* | 329 | 431 |
| &nbsp;&nbsp; Lovesac \* | 26 | 669 |
| &nbsp;&nbsp; Lowe's | 1415 | 294674 |
| &nbsp;&nbsp; Lucid Group \* | 1293 | 15115 |
| &nbsp;&nbsp; Luminar Technologies, Cl A \* | 419 | 2795 |

---

---

| | | |
|:---|:---|:---|
|  **COMMON STOCK — continued** | |  |
|  | <br> **Shares** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Value**  |
|  **CONSUMER DISCRETIONARY— continued** | **CONSUMER DISCRETIONARY— continued** | **CONSUMER DISCRETIONARY— continued** |
| &nbsp;&nbsp; M/I Homes \* | 53 | $3169 |
| &nbsp;&nbsp; Macy's | 616 | 14556 |
| &nbsp;&nbsp; Malibu Boats, Cl A \* | 39 | 2363 |
| &nbsp;&nbsp; MarineMax \* | 41 | 1281 |
| &nbsp;&nbsp; Marriott International, Cl A | 634 | 110430 |
| &nbsp;&nbsp; Marriott Vacations Worldwide | 83 | 13283 |
| &nbsp;&nbsp; MasterCraft Boat Holdings \* | 35 | 1007 |
| &nbsp;&nbsp; Mattel \* | 799 | 16348 |
| &nbsp;&nbsp; MDC Holdings | 111 | 4191 |
| &nbsp;&nbsp; Meritage Homes \* | 81 | 8723 |
| &nbsp;&nbsp; MGM Resorts International | 744 | 30809 |
| &nbsp;&nbsp; Mister Car Wash \* | 152 | 1561 |
| &nbsp;&nbsp; Modine Manufacturing \* | 97 | 2317 |
| &nbsp;&nbsp; Mohawk Industries \* | 120 | 14407 |
| &nbsp;&nbsp; Monarch Casino & Resort \* | 27 | 2069 |
| &nbsp;&nbsp; Monro | 61 | 3105 |
| &nbsp;&nbsp; Motorcar Parts of America \* | 36 | 524 |
| &nbsp;&nbsp; Movado Group | 30 | 1061 |
| &nbsp;&nbsp; Murphy USA | 43 | 11697 |
| &nbsp;&nbsp; National Vision Holdings \* | 178 | 7316 |
| &nbsp;&nbsp; NIKE, Cl B | 2834 | 360853 |
| &nbsp;&nbsp; Noodles, Cl A \* | 69 | 434 |
| &nbsp;&nbsp; Nordstrom | 187 | 3654 |
| &nbsp;&nbsp; Norwegian Cruise Line Holdings \* | 951 | 14465 |
| &nbsp;&nbsp; NVR \* | 7 | 36890 |
| &nbsp;&nbsp; ODP \* | 93 | 4799 |
| &nbsp;&nbsp; Ollie's Bargain Outlet Holdings \* . | 106 | 5805 |
| &nbsp;&nbsp; OneWater Marine, Cl A \* | 21 | 688 |
| &nbsp;&nbsp; O'Reilly Automotive \* | 143 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;113306 |
| &nbsp;&nbsp; Overstock.com \* | 89 | 2155 |
| &nbsp;&nbsp; Oxford Industries | 30 | 3517 |
| &nbsp;&nbsp; Papa John's International | 68 | 6099 |
| &nbsp;&nbsp; Patrick Industries | 43 | 3052 |
| &nbsp;&nbsp; Peloton Interactive, Cl A \* | 657 | 8495 |
| &nbsp;&nbsp; Penn Entertainment \* | 355 | 12585 |
| &nbsp;&nbsp; Penske Automotive Group | 58 | 7414 |
| &nbsp;&nbsp; Perdoceo Education \* | 128 | 1916 |
| &nbsp;&nbsp; Petco Health & Wellness, Cl A \* | 295 | 3449 |
| &nbsp;&nbsp; PetMed Express | 39 | 838 |
| &nbsp;&nbsp; Planet Fitness, Cl A \* | 187 | 15830 |
| &nbsp;&nbsp; Playa Hotels & Resorts \* | 259 | 1963 |
| &nbsp;&nbsp; Polaris | 124 | 14240 |
| &nbsp;&nbsp; Pool | 87 | 33548 |
| &nbsp;&nbsp; Portillo's, Cl A \* | 59 | 1331 |
| &nbsp;&nbsp; PulteGroup | 524 | 29810 |
| &nbsp;&nbsp; PVH | 148 | 13305 |
| &nbsp;&nbsp; QuantumScape, Cl A \* | 468 | 3983 |
| &nbsp;&nbsp; Qurate Retail \* | 669 | 1726 |
| &nbsp;&nbsp; Ralph Lauren, Cl A | 95 | 11766 |
| &nbsp;&nbsp; Red Rock Resorts, Cl A | 97 | 4366 |
| &nbsp;&nbsp; Rent-A-Center, Cl A | 104 | 2797 |
| &nbsp;&nbsp; Revolve Group, Cl A \* | 80 | 2283 |
| &nbsp;&nbsp; RH \* | 47 | 14664 |
| &nbsp;&nbsp; Rivian Automotive, Cl A \* | 1167 | 22640 |
| &nbsp;&nbsp; Ross Stores | 771 | 91124 |
| &nbsp;&nbsp; Rover Group, Cl A \* | 161 | 658 |

---

**18** 

------

---

| | |
|:---|:---|
| **THE ADVISORS' INNER CIRCLE FUND III** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **KNIGHTS OF COLUMBUS** <br> **U.S. ALL CAP INDEX FUND** <br> **JANUARY 31, 2023** <br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(Unaudited)**  |

---

---

| | | |
|:---|:---|:---|
|  **COMMON STOCK — continued** | **COMMON STOCK — continued** | **COMMON STOCK — continued** |
|  | **Shares** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Value**  |
|  **CONSUMER DISCRETIONARY— continued** | **CONSUMER DISCRETIONARY— continued** | **CONSUMER DISCRETIONARY— continued** |
| &nbsp;&nbsp; Royal Caribbean Cruises \* | 501 | $32535 |
| &nbsp;&nbsp; Rush Street Interactive \* | 107 | 459 |
| &nbsp;&nbsp; Ruth's Hospitality Group | 62 | 1073 |
| &nbsp;&nbsp; Sally Beauty Holdings \* | 207 | 3225 |
| &nbsp;&nbsp; SeaWorld Entertainment \* | 151 | 9421 |
| &nbsp;&nbsp; Service International | 349 | 25878 |
| &nbsp;&nbsp; Shake Shack, Cl A \* | 73 | 4152 |
| &nbsp;&nbsp; Shoe Carnival | 33 | 901 |
| &nbsp;&nbsp; Signet Jewelers | 100 | 7681 |
| &nbsp;&nbsp; Six Flags Entertainment \* | 160 | 4296 |
| &nbsp;&nbsp; Skechers USA, Cl A \* | 302 | 14541 |
| &nbsp;&nbsp; Skyline Champion \* | 110 | 6485 |
| &nbsp;&nbsp; Sleep Number \* | 41 | 1410 |
| &nbsp;&nbsp; Solid Power \* | 195 | 653 |
| &nbsp;&nbsp; Sonder Holdings \* | 245 | 328 |
| &nbsp;&nbsp; Sonic Automotive, Cl A | 36 | 1934 |
| &nbsp;&nbsp; Sonos \* | 246 | 4536 |
| &nbsp;&nbsp; Sportsman's Warehouse Holdings \* | 73 | 688 |
| &nbsp;&nbsp; Standard Motor Products | 37 | 1497 |
| &nbsp;&nbsp; Starbucks | 2549 | 278198 |
| &nbsp;&nbsp; Stellantis | 4448 | 69923 |
| &nbsp;&nbsp; Steven Madden | 152 | 5449 |
| &nbsp;&nbsp; Stitch Fix, Cl A \* | 155 | 808 |
| &nbsp;&nbsp; Stoneridge \* | 51 | 1258 |
| &nbsp;&nbsp; Strategic Education | 47 | 4387 |
| &nbsp;&nbsp; Stride \* | 79 | 3391 |
| &nbsp;&nbsp; Sweetgreen, Cl A \* | 157 | 1628 |
| &nbsp;&nbsp; Tapestry | 548 | 24972 |
| &nbsp;&nbsp; Target | 1048 | 180403 |
| &nbsp;&nbsp; Target Hospitality \* | 53 | 814 |
| &nbsp;&nbsp; Taylor Morrison Home, Cl A \* | 243 | 8699 |
| &nbsp;&nbsp; Tempur Sealy International | 383 | 15607 |
| &nbsp;&nbsp; Tesla \* | 5970 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1034123 |
| &nbsp;&nbsp; Texas Roadhouse, Cl A | 151 | 15165 |
| &nbsp;&nbsp; Thor Industries | 117 | 11154 |
| &nbsp;&nbsp; TJX | 2645 | 216520 |
| &nbsp;&nbsp; Toll Brothers | 241 | 14337 |
| &nbsp;&nbsp; TopBuild \* | 73 | 14604 |
| &nbsp;&nbsp; Topgolf Callaway Brands \* | 316 | 7739 |
| &nbsp;&nbsp; Tractor Supply | 252 | 57453 |
| &nbsp;&nbsp; Travel + Leisure | 186 | 7881 |
| &nbsp;&nbsp; TravelCenters of America \* | 26 | 1184 |
| &nbsp;&nbsp; TRI Pointe Group \* | 195 | 4308 |
| &nbsp;&nbsp; Tupperware Brands \* | 80 | 354 |
| &nbsp;&nbsp; Udemy \* | 104 | 1304 |
| &nbsp;&nbsp; Ulta Beauty \* | 115 | 59105 |
| &nbsp;&nbsp; Under Armour, Cl A \* | 369 | 4572 |
| &nbsp;&nbsp; Urban Outfitters \* | 102 | 2794 |
| &nbsp;&nbsp; Vacasa, Cl A \* | 155 | 271 |
| &nbsp;&nbsp; Vail Resorts | 91 | 23873 |
| &nbsp;&nbsp; VF | 838 | 25928 |
| &nbsp;&nbsp; Victoria's Secret \* | 165 | 6955 |
| &nbsp;&nbsp; Visteon \* | 64 | 10006 |
| &nbsp;&nbsp; Vivint Smart Home \* | 59 | 707 |
| &nbsp;&nbsp; Vizio Holding, Cl A \* | 123 | 1077 |
| &nbsp;&nbsp; Vuzix \* | 116 | 604 |

---

---

| | | |
|:---|:---|:---|
|  **COMMON STOCK — continued** | **COMMON STOCK — continued** | **COMMON STOCK — continued** |
|  | **Shares** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Value**  |
|  **CONSUMER DISCRETIONARY— continued** | **CONSUMER DISCRETIONARY— continued** | **CONSUMER DISCRETIONARY— continued** |
| &nbsp;&nbsp; Warby Parker, Cl A \* | 161 | $2600 |
| &nbsp;&nbsp; Wayfair, Cl A \* | 139 | 8410 |
| &nbsp;&nbsp; Wendy's | 445 | 9924 |
| &nbsp;&nbsp; Whirlpool | 121 | 18826 |
| &nbsp;&nbsp; Williams-Sonoma | 150 | 20241 |
| &nbsp;&nbsp; Wingstop | 67 | 10617 |
| &nbsp;&nbsp; Winmark | 5 | 1404 |
| &nbsp;&nbsp; Winnebago Industries | 60 | 3821 |
| &nbsp;&nbsp; Wolverine World Wide | 150 | 2420 |
| &nbsp;&nbsp; Workhorse Group \* | 309 | 683 |
| &nbsp;&nbsp; WW International \* | 134 | 666 |
| &nbsp;&nbsp; Wyndham Hotels & Resorts | 202 | 15657 |
| &nbsp;&nbsp; Wynn Resorts \* | 236 | 24459 |
| &nbsp;&nbsp; XPEL \* | 39 | 2967 |
| &nbsp;&nbsp; Xponential Fitness, Cl A \* | 31 | 852 |
| &nbsp;&nbsp; YETI Holdings \* | 195 | 8728 |
| &nbsp;&nbsp; Yum! Brands | 649 | 84701 |
| &nbsp;&nbsp; Zumiez \* | 31 | 801 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7175411 |
|  **CONSUMER STAPLES — 4.7%** |  |  |
| &nbsp;&nbsp; 22nd Century Group \* | 411 | 452 |
| &nbsp;&nbsp; Albertsons, Cl A | 357 | 7568 |
| &nbsp;&nbsp; Altria Group | 4105 | 184889 |
| &nbsp;&nbsp; Andersons | 62 | 2280 |
| &nbsp;&nbsp; Archer-Daniels-Midland | 1271 | 105302 |
| &nbsp;&nbsp; B&G Foods | 138 | 1935 |
| &nbsp;&nbsp; Beauty Health \* | 199 | 2269 |
| &nbsp;&nbsp; BellRing Brands \* | 299 | 8483 |
| &nbsp;&nbsp; Benson Hill \* | 306 | 820 |
| &nbsp;&nbsp; Beyond Meat \* | 113 | 1857 |
| &nbsp;&nbsp; BJ's Wholesale Club Holdings \* | 305 | 22103 |
| &nbsp;&nbsp; Boston Beer, Cl A \* | 22 | 8549 |
| &nbsp;&nbsp; Brown-Forman, Cl B | 692 | 46073 |
| &nbsp;&nbsp; Bunge | 344 | 34090 |
| &nbsp;&nbsp; Calavo Growers | 33 | 1058 |
| &nbsp;&nbsp; Cal-Maine Foods | 73 | 4177 |
| &nbsp;&nbsp; Campbell Soup | 452 | 23472 |
| &nbsp;&nbsp; Casey's General Stores | 85 | 20052 |
| &nbsp;&nbsp; Celsius Holdings \* | 90 | 9029 |
| &nbsp;&nbsp; Central Garden & Pet, Cl A \* | 78 | 3091 |
| &nbsp;&nbsp; Chefs' Warehouse \* | 66 | 2523 |
| &nbsp;&nbsp; Clorox | 280 | 40513 |
| &nbsp;&nbsp; Coca-Cola | 9803 | 601120 |
| &nbsp;&nbsp; Coca-Cola Consolidated | 9 | 4561 |
| &nbsp;&nbsp; Colgate-Palmolive | 1910 | 142352 |
| &nbsp;&nbsp; Conagra Brands | 1087 | 40426 |
| &nbsp;&nbsp; Constellation Brands, Cl A | 355 | 82190 |
| &nbsp;&nbsp; Coty, Cl A \* | 650 | 6474 |
| &nbsp;&nbsp; Darling Ingredients \* | 362 | 23997 |
| &nbsp;&nbsp; Duckhorn Portfolio \* | 83 | 1343 |
| &nbsp;&nbsp; Edgewell Personal Care | 101 | 4329 |
| &nbsp;&nbsp; elf Beauty \* | 96 | 5525 |
| &nbsp;&nbsp; Energizer Holdings | 131 | 4860 |
| &nbsp;&nbsp; Estee Lauder, Cl A | 526 | 145744 |
| &nbsp;&nbsp; Flowers Foods | 448 | 12405 |

---

**19** 

------

---

| | |
|:---|:---|
| **THE ADVISORS' INNER CIRCLE FUND III** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **KNIGHTS OF COLUMBUS** <br> **U.S. ALL CAP INDEX FUND** <br> **JANUARY 31, 2023** <br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(Unaudited)**  |

---

---

| | | |
|:---|:---|:---|
|  **COMMON STOCK — continued** | |  |
|  | <br> **Shares** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Value**  |
|  **CONSUMER STAPLES— continued** | **CONSUMER STAPLES— continued** | **CONSUMER STAPLES— continued** |
| &nbsp;&nbsp; Fresh Del Monte Produce | 74 | $2116 |
| &nbsp;&nbsp; Freshpet \* | 91 | 5763 |
| &nbsp;&nbsp; General Mills | 1350 | 105786 |
| &nbsp;&nbsp; Grocery Outlet Holding \* | 175 | 5318 |
| &nbsp;&nbsp; Hain Celestial Group \* | 173 | 3550 |
| &nbsp;&nbsp; Herbalife Nutrition \* | 209 | 3672 |
| &nbsp;&nbsp; Hershey | 334 | 75016 |
| &nbsp;&nbsp; Hormel Foods | 657 | 29769 |
| &nbsp;&nbsp; Hostess Brands, Cl A \* | 303 | 7008 |
| &nbsp;&nbsp; Ingles Markets, Cl A | 28 | 2660 |
| &nbsp;&nbsp; Ingredion | 144 | 14803 |
| &nbsp;&nbsp; Inter Parfums | 35 | 4138 |
| &nbsp;&nbsp; J&J Snack Foods | 29 | 4156 |
| &nbsp;&nbsp; JM Smucker | 236 | 36061 |
| &nbsp;&nbsp; John B Sanfilippo & Son | 17 | 1437 |
| &nbsp;&nbsp; Kellogg | 771 | 52875 |
| &nbsp;&nbsp; Keurig Dr Pepper | 1934 | 68232 |
| &nbsp;&nbsp; Kimberly-Clark | 770 | 100108 |
| &nbsp;&nbsp; Kraft Heinz | 2521 | 102176 |
| &nbsp;&nbsp; Lamb Weston Holdings | 315 | 31465 |
| &nbsp;&nbsp; Lancaster Colony | 42 | 8060 |
| &nbsp;&nbsp; Lifecore Biomedical \* | 57 | 354 |
| &nbsp;&nbsp; McCormick | 571 | 42894 |
| &nbsp;&nbsp; Medifast | 21 | 2341 |
| &nbsp;&nbsp; MGP Ingredients | 26 | 2536 |
| &nbsp;&nbsp; Mission Produce \* | 83 | 1034 |
| &nbsp;&nbsp; Molson Coors Beverage, Cl B | 440 | 23135 |
| &nbsp;&nbsp; Mondelez International, Cl A | 3123 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;204369 |
| &nbsp;&nbsp; Monster Beverage \* | 845 | 87948 |
| &nbsp;&nbsp; National Beverage \* | 46 | 2033 |
| &nbsp;&nbsp; Nu Skin Enterprises, Cl A | 97 | 4159 |
| &nbsp;&nbsp; Olaplex Holdings \* | 243 | 1533 |
| &nbsp;&nbsp; PepsiCo | 3134 | 535977 |
| &nbsp;&nbsp; Performance Food Group \* | 345 | 21155 |
| &nbsp;&nbsp; Philip Morris International | 3533 | 368280 |
| &nbsp;&nbsp; Pilgrim's Pride \* | 83 | 2015 |
| &nbsp;&nbsp; Post Holdings \* | 123 | 11679 |
| &nbsp;&nbsp; PriceSmart | 49 | 3641 |
| &nbsp;&nbsp; Reynolds Consumer Products | 106 | 3156 |
| &nbsp;&nbsp; Seneca Foods, Cl A \* | 11 | 688 |
| &nbsp;&nbsp; Simply Good Foods \* | 193 | 7006 |
| &nbsp;&nbsp; Sovos Brands \* | 66 | 895 |
| &nbsp;&nbsp; SpartanNash | 69 | 2186 |
| &nbsp;&nbsp; Spectrum Brands Holdings | 78 | 5295 |
| &nbsp;&nbsp; Sprouts Farmers Market \* | 243 | 7764 |
| &nbsp;&nbsp; Sysco | 1152 | 89234 |
| &nbsp;&nbsp; Tootsie Roll Industries | 32 | 1414 |
| &nbsp;&nbsp; TreeHouse Foods \* | 109 | 5279 |
| &nbsp;&nbsp; Turning Point Brands | 34 | 789 |
| &nbsp;&nbsp; Tyson Foods, Cl A | 643 | 42277 |
| &nbsp;&nbsp; United Natural Foods \* | 113 | 4703 |
| &nbsp;&nbsp; Universal | 47 | 2555 |
| &nbsp;&nbsp; US Foods Holding \* | 493 | 18798 |
| &nbsp;&nbsp; USANA Health Sciences \* | 22 | 1286 |
| &nbsp;&nbsp; Utz Brands | 127 | 2116 |
| &nbsp;&nbsp; Vector Group | 257 | 3328 |

---

---

| | | |
|:---|:---|:---|
|  **COMMON STOCK — continued** | |  |
|  | <br> **Shares** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Value**  |
|  **CONSUMER STAPLES— continued** | **CONSUMER STAPLES— continued** | **CONSUMER STAPLES— continued** |
| &nbsp;&nbsp; Vita Coco \* | 47 | $638 |
| &nbsp;&nbsp; Vital Farms \* | 49 | 861 |
| &nbsp;&nbsp; WD-40 | 26 | 4538 |
| &nbsp;&nbsp; Weis Markets | 29 | 2504 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3792473 |
|  **ENERGY — 5.9%** |  |  |
| &nbsp;&nbsp; Aemetis \* | 58 | 271 |
| &nbsp;&nbsp; Alto Ingredients \* | 139 | 471 |
| &nbsp;&nbsp; Amplify Energy \* | 74 | 641 |
| &nbsp;&nbsp; Antero Midstream | 736 | 8022 |
| &nbsp;&nbsp; Antero Resources \* | 614 | 17708 |
| &nbsp;&nbsp; APA | 742 | 32893 |
| &nbsp;&nbsp; Arch Resources | 35 | 5181 |
| &nbsp;&nbsp; Archrock | 265 | 2626 |
| &nbsp;&nbsp; Baker Hughes, Cl A | 2296 | 72875 |
| &nbsp;&nbsp; Berry | 152 | 1398 |
| &nbsp;&nbsp; Bristow Group \* | 53 | 1619 |
| &nbsp;&nbsp; Cactus, Cl A | 137 | 7413 |
| &nbsp;&nbsp; California Resources | 131 | 5598 |
| &nbsp;&nbsp; Callon Petroleum \* | 97 | 4127 |
| &nbsp;&nbsp; Centrus Energy, Cl A \* | 23 | 944 |
| &nbsp;&nbsp; ChampionX | 459 | 15156 |
| &nbsp;&nbsp; Cheniere Energy | 565 | 86326 |
| &nbsp;&nbsp; Chesapeake Energy | 227 | 19685 |
| &nbsp;&nbsp; Chevron | 4465 | 776999 |
| &nbsp;&nbsp; Chord Energy | 90 | 12937 |
| &nbsp;&nbsp; Civitas Resources | 166 | 11052 |
| &nbsp;&nbsp; Clean Energy Fuels \* | 329 | 1862 |
| &nbsp;&nbsp; CNX Resources \* | 366 | 6123 |
| &nbsp;&nbsp; Comstock Resources | 156 | 1895 |
| &nbsp;&nbsp; ConocoPhillips | 2901 | 353545 |
| &nbsp;&nbsp; CONSOL Energy | 67 | 3875 |
| &nbsp;&nbsp; Core Laboratories | 90 | 2304 |
| &nbsp;&nbsp; Coterra Energy | 1778 | 44503 |
| &nbsp;&nbsp; Crescent Energy, Cl A | 74 | 888 |
| &nbsp;&nbsp; CVR Energy | 197 | 6540 |
| &nbsp;&nbsp; Delek US Holdings | 136 | 3639 |
| &nbsp;&nbsp; Denbury \* | 109 | 9459 |
| &nbsp;&nbsp; Devon Energy | 1476 | 93342 |
| &nbsp;&nbsp; DHT Holdings | 319 | 2734 |
| &nbsp;&nbsp; Diamond Offshore Drilling \* | 194 | 2223 |
| &nbsp;&nbsp; Diamondback Energy | 384 | 56110 |
| &nbsp;&nbsp; DMC Global \* | 31 | 705 |
| &nbsp;&nbsp; Dorian LPG \* | 66 | 1310 |
| &nbsp;&nbsp; Dril-Quip \* | 66 | 2027 |
| &nbsp;&nbsp; DT Midstream | 221 | 12080 |
| &nbsp;&nbsp; Earthstone Energy, Cl A \* | 93 | 1293 |
| &nbsp;&nbsp; Enviva | 71 | 3229 |
| &nbsp;&nbsp; EOG Resources | 1333 | 176289 |
| &nbsp;&nbsp; Equities | 799 | 26103 |
| &nbsp;&nbsp; Equitrans Midstream | 983 | 7127 |
| &nbsp;&nbsp; Evolution Petroleum | 60 | 374 |
| &nbsp;&nbsp; Excelerate Energy, Cl A | 51 | 1188 |
| &nbsp;&nbsp; Expro Group Holdings \* | 190 | 3589 |
| &nbsp;&nbsp; Exxon Mobil | 9500 | 1102095 |

---

**20** 

------

---

| | |
|:---|:---|
| **THE ADVISORS' INNER CIRCLE FUND III** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **KNIGHTS OF COLUMBUS** <br> **U.S. ALL CAP INDEX FUND** <br> **JANUARY 31, 2023** <br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(Unaudited)**  |

---

---

| | | |
|:---|:---|:---|
|  **COMMON STOCK — continued** | **COMMON STOCK — continued** | **COMMON STOCK — continued** |
|  | **Shares** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Value**  |
|  **ENERGY— continued** |  |  |
| &nbsp;&nbsp; Gevo \* | 447 | $948 |
| &nbsp;&nbsp; Green Plains \* | 109 | 3790 |
| &nbsp;&nbsp; Gulfport Energy \* | 38 | 2590 |
| &nbsp;&nbsp; Halliburton | 2063 | 85037 |
| &nbsp;&nbsp; Helix Energy Solutions Group \* | 279 | 2212 |
| &nbsp;&nbsp; Helmerich & Payne | 233 | 11287 |
| &nbsp;&nbsp; Hess | 637 | 95652 |
| &nbsp;&nbsp; Hess Midstream, Cl A | 84 | 2594 |
| &nbsp;&nbsp; HF Sinclair | 383 | 21793 |
| &nbsp;&nbsp; HighPeak Energy | 20 | 559 |
| &nbsp;&nbsp; International Seaways | 76 | 2952 |
| &nbsp;&nbsp; Kinder Morgan | 4493 | 82222 |
| &nbsp;&nbsp; Kinetik Holdings, Cl A | 30 | 939 |
| &nbsp;&nbsp; Liberty Energy, Cl A | 299 | 4733 |
| &nbsp;&nbsp; Magnolia Oil & Gas, Cl A | 384 | 9066 |
| &nbsp;&nbsp; Marathon Oil | 1542 | 42359 |
| &nbsp;&nbsp; Marathon Petroleum | 1136 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;145999 |
| &nbsp;&nbsp; Matador Resources | 248 | 16408 |
| &nbsp;&nbsp; Murphy Oil | 337 | 14696 |
| &nbsp;&nbsp; Nabors Industries \* | 17 | 3018 |
| &nbsp;&nbsp; National Energy Services<br>Reunited \* | 152 | 1149 |
| &nbsp;&nbsp; New Fortress Energy, Cl A | 199 | 7719 |
| &nbsp;&nbsp; Newpark Resources \* | 160 | 726 |
| &nbsp;&nbsp; NextDecade \* | 241 | 1444 |
| &nbsp;&nbsp; NexTier Oilfield Solutions \* | 368 | 3467 |
| &nbsp;&nbsp; Noble PLC \* | 297 | 12085 |
| &nbsp;&nbsp; Northern Oil and Gas | 132 | 4425 |
| &nbsp;&nbsp; NOV | 890 | 21752 |
| &nbsp;&nbsp; Occidental Petroleum | 2121 | 137420 |
| &nbsp;&nbsp; Oceaneering International \* | 192 | 4099 |
| &nbsp;&nbsp; Oil States International \* | 120 | 1027 |
| &nbsp;&nbsp; ONEOK | 1013 | 69370 |
| &nbsp;&nbsp; Ovintiv | 578 | 28455 |
| &nbsp;&nbsp; Par Pacific Holdings \* | 115 | 3074 |
| &nbsp;&nbsp; Patterson-UTI Energy | 485 | 8148 |
| &nbsp;&nbsp; PBF Energy, Cl A | 249 | 10455 |
| &nbsp;&nbsp; PDC Energy | 216 | 14630 |
| &nbsp;&nbsp; Peabody Energy \* | 326 | 9092 |
| &nbsp;&nbsp; Permian Resources, Cl A | 404 | 4391 |
| &nbsp;&nbsp; Phillips 66 | 1095 | 109796 |
| &nbsp;&nbsp; Pioneer Natural Resources | 527 | 121394 |
| &nbsp;&nbsp; Plains GP Holdings, Cl A | 371 | 4856 |
| &nbsp;&nbsp; ProPetro Holding \* | 160 | 1592 |
| &nbsp;&nbsp; Range Resources | 585 | 14637 |
| &nbsp;&nbsp; Ranger Oil, Cl A | 41 | 1722 |
| &nbsp;&nbsp; REX American Resources \* | 30 | 982 |
| &nbsp;&nbsp; Ring Energy \* | 153 | 361 |
| &nbsp;&nbsp; RPC | 179 | 1776 |
| &nbsp;&nbsp; SandRidge Energy \* | 71 | 1123 |
| &nbsp;&nbsp; Schlumberger | 3221 | 183533 |
| &nbsp;&nbsp; Select Energy Services, Cl A | 150 | 1317 |
| &nbsp;&nbsp; SilverBow Resources \* | 14 | 368 |
| &nbsp;&nbsp; Sitio Royalties, Cl A | 139 | 3685 |
| &nbsp;&nbsp; SM Energy | 274 | 9006 |

---

---

| | | |
|:---|:---|:---|
|  **COMMON STOCK — continued** | **COMMON STOCK — continued** | **COMMON STOCK — continued** |
|  | **Shares** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Value**  |
|  **ENERGY— continued** |  |  |
| &nbsp;&nbsp; Solaris Oilfield Infrastructure, Cl A | 55 | $582 |
| &nbsp;&nbsp; Southwestern Energy \* | 2248 | 12409 |
| &nbsp;&nbsp; Talos Energy \* | 134 | 2655 |
| &nbsp;&nbsp; Targa Resources | 507 | 38035 |
| &nbsp;&nbsp; Tellurian \* | 997 | 1984 |
| &nbsp;&nbsp; TETRA Technologies \* | 223 | 883 |
| &nbsp;&nbsp; Texas Pacific Land | 17 | 33929 |
| &nbsp;&nbsp; Tidewater \* | 85 | 3689 |
| &nbsp;&nbsp; Transocean \* | 1282 | 8641 |
| &nbsp;&nbsp; US Silica Holdings \* | 141 | 1726 |
| &nbsp;&nbsp; VAALCO Energy | 204 | 949 |
| &nbsp;&nbsp; Valaris \* | 158 | 11477 |
| &nbsp;&nbsp; Valero Energy | 895 | 125327 |
| &nbsp;&nbsp; Vertex Energy \* | 117 | 852 |
| &nbsp;&nbsp; Viper Energy Partners | 120 | 3810 |
| &nbsp;&nbsp; Vital Energy \* | 31 | 1745 |
| &nbsp;&nbsp; Vitesse Energy \* | 49 | 778 |
| &nbsp;&nbsp; W&T Offshore \* | 184 | 1144 |
| &nbsp;&nbsp; Weatherford International \* | 160 | 9101 |
| &nbsp;&nbsp; Williams | 2773 | 89402 |
| &nbsp;&nbsp; World Fuel Services | 117 | 3311 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4710752 |
|  **FINANCIALS — 13.7%** |  |  |
| &nbsp;&nbsp; 1st Source | 35 | 1722 |
| &nbsp;&nbsp; ACNB | 16 | 630 |
| &nbsp;&nbsp; AFC Gamma ‡ | 31 | 487 |
| &nbsp;&nbsp; Affiliated Managers Group | 86 | 14856 |
| &nbsp;&nbsp; AGNC Investment ‡ | 1183 | 13723 |
| &nbsp;&nbsp; Alerus Financial | 26 | 535 |
| &nbsp;&nbsp; Allstate | 613 | 78752 |
| &nbsp;&nbsp; Ally Financial | 700 | 22743 |
| &nbsp;&nbsp; Amalgamated Financial | 33 | 757 |
| &nbsp;&nbsp; A-Mark Precious Metals | 36 | 1386 |
| &nbsp;&nbsp; Ambac Financial Group \* | 86 | 1433 |
| &nbsp;&nbsp; Amerant Bancorp, Cl A | 45 | 1253 |
| &nbsp;&nbsp; American Equity Investment Life Holding | 197 | 9387 |
| &nbsp;&nbsp; American Express | 1709 | 298955 |
| &nbsp;&nbsp; American Financial Group | 181 | 25809 |
| &nbsp;&nbsp; American International Group | 1731 | 109434 |
| &nbsp;&nbsp; American National Bankshares | 20 | 692 |
| &nbsp;&nbsp; Ameriprise Financial | 247 | 86480 |
| &nbsp;&nbsp; Ameris Bancorp | 149 | 7027 |
| &nbsp;&nbsp; AMERISAFE | 37 | 2038 |
| &nbsp;&nbsp; Annaly Capital Management ‡ | 1065 | 24996 |
| &nbsp;&nbsp; Apollo Commercial Real Estate Finance ‡ | 273 | 3322 |
| &nbsp;&nbsp; Apollo Global Management | 974 | 68962 |
| &nbsp;&nbsp; Arbor Realty Trust ‡ | 322 | 4807 |
| &nbsp;&nbsp; Arch Capital Group \* | 814 | 52381 |
| &nbsp;&nbsp; Ares Commercial Real Estate ‡ | 101 | 1240 |
| &nbsp;&nbsp; Ares Management, Cl A | 310 | 25727 |
| &nbsp;&nbsp; Argo Group International Holdings | 65 | 1804 |

---

**21** 

------

---

| | |
|:---|:---|
| **THE ADVISORS' INNER CIRCLE FUND III** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **KNIGHTS OF COLUMBUS** <br> **U.S. ALL CAP INDEX FUND** <br> **JANUARY 31, 2023** <br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(Unaudited)**  |

---

---

| | | |
|:---|:---|:---|
|  **COMMON STOCK — continued** | |  |
|  | <br> **Shares** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Value**  |
|  **FINANCIALS— continued** |  |  |
| &nbsp;&nbsp; ARMOUR Residential ‡ | 257 | $1614 |
| &nbsp;&nbsp; Arrow Financial | 32 | 1047 |
| &nbsp;&nbsp; Arthur J Gallagher | 474 | 92771 |
| &nbsp;&nbsp; Artisan Partners Asset Management, Cl A | 128 | 4713 |
| &nbsp;&nbsp; AssetMark Financial Holdings \* | 41 | 1088 |
| &nbsp;&nbsp; Associated Banc-Corp | 337 | 7552 |
| &nbsp;&nbsp; Assurant | 120 | 15911 |
| &nbsp;&nbsp; Assured Guaranty | 134 | 8388 |
| &nbsp;&nbsp; Atlantic Union Bankshares | 145 | 5610 |
| &nbsp;&nbsp; Avantax \* | 90 | 2623 |
| &nbsp;&nbsp; Axis Capital Holdings | 178 | 11137 |
| &nbsp;&nbsp; Axos Financial \* | 105 | 5053 |
| &nbsp;&nbsp;&nbsp;&nbsp;B. Riley Financial | 29 | 1239 |
| &nbsp;&nbsp; Banc of California | 108 | 1881 |
| &nbsp;&nbsp; BancFirst | 35 | 3015 |
| &nbsp;&nbsp; Bancorp \* | 98 | 3325 |
| &nbsp;&nbsp; Bank First | 16 | 1278 |
| &nbsp;&nbsp; Bank of America | 18289 | 648894 |
| &nbsp;&nbsp; Bank of Hawaii | 90 | 6884 |
| &nbsp;&nbsp; Bank of Marin Bancorp | 28 | 853 |
| &nbsp;&nbsp; Bank of New York Mellon | 1841 | 93099 |
| &nbsp;&nbsp; Bank OZK | 278 | 12696 |
| &nbsp;&nbsp; BankUnited | 152 | 5721 |
| &nbsp;&nbsp; Banner | 66 | 4279 |
| &nbsp;&nbsp; Bar Harbor Bankshares | 29 | 901 |
| &nbsp;&nbsp; BCB Bancorp | 29 | 522 |
| &nbsp;&nbsp; Berkshire Hathaway, Cl B \* | 4173 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1299973 |
| &nbsp;&nbsp; BGC Partners, Cl A | 574 | 2497 |
| &nbsp;&nbsp; BlackRock, Cl A | 341 | 258891 |
| &nbsp;&nbsp; Blackstone, Cl A | 1605 | 154016 |
| &nbsp;&nbsp; Blackstone Mortgage Trust, Cl A ‡ | 370 | 8821 |
| &nbsp;&nbsp; Blue Foundry Bancorp \* | 50 | 594 |
| &nbsp;&nbsp; Blue Owl Capital, Cl A | 914 | 11498 |
| &nbsp;&nbsp; BOK Financial | 66 | 6633 |
| &nbsp;&nbsp; Bread Financial Holdings | 97 | 3980 |
| &nbsp;&nbsp; Bridgewater Bancshares \* | 39 | 607 |
| &nbsp;&nbsp; Brighthouse Financial \* | 163 | 9172 |
| &nbsp;&nbsp; Brightsphere Investment Group | 81 | 1899 |
| &nbsp;&nbsp; BrightSpire Capital, Cl A ‡ | 180 | 1372 |
| &nbsp;&nbsp; Broadmark Realty Capital ‡ | 249 | 1091 |
| &nbsp;&nbsp; Brookline Bancorp | 181 | 2361 |
| &nbsp;&nbsp; Brown & Brown | 537 | 31447 |
| &nbsp;&nbsp; BRP Group, Cl A \* | 116 | 3323 |
| &nbsp;&nbsp; Burford Capital | 327 | 2986 |
| &nbsp;&nbsp; Business First Bancshares | 41 | 850 |
| &nbsp;&nbsp; Byline Bancorp | 45 | 1116 |
| &nbsp;&nbsp; Cadence Bank | 420 | 10744 |
| &nbsp;&nbsp; Cambridge Bancorp | 13 | 1040 |
| &nbsp;&nbsp; Camden National | 28 | 1182 |
| &nbsp;&nbsp; Cannae Holdings \* | 146 | 3568 |
| &nbsp;&nbsp; Capital City Bank Group | 25 | 812 |
| &nbsp;&nbsp; Capital One Financial | 864 | 102816 |
| &nbsp;&nbsp; Capitol Federal Financial | 256 | 2143 |
| &nbsp;&nbsp; Capstar Financial Holdings | 36 | 627 |
| &nbsp;&nbsp; Carlyle Group | 433 | 15575 |

---

---

| | | |
|:---|:---|:---|
|  **COMMON STOCK — continued** | |  |
|  | <br> **Shares** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Value**  |
|  **FINANCIALS— continued** |  |  |
| &nbsp;&nbsp; Carter Bankshares \* | 47 | $781 |
| &nbsp;&nbsp; Cathay General Bancorp | 160 | 7034 |
| &nbsp;&nbsp; Cboe Global Markets | 241 | 29614 |
| &nbsp;&nbsp; Central Pacific Financial | 52 | 1175 |
| &nbsp;&nbsp; Charles Schwab | 3872 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;299770 |
| &nbsp;&nbsp; Chicago Atlantic Real Estate<br>Finance ‡ | 23 | 355 |
| &nbsp;&nbsp; Chimera Investment ‡ | 446 | 3251 |
| &nbsp;&nbsp; Chubb | 948 | 215661 |
| &nbsp;&nbsp; Cincinnati Financial | 356 | 40281 |
| &nbsp;&nbsp; Citigroup | 4423 | 230969 |
| &nbsp;&nbsp; Citizens & Northern | 29 | 686 |
| &nbsp;&nbsp; City Holding | 28 | 2654 |
| &nbsp;&nbsp; Civista Bancshares | 29 | 629 |
| &nbsp;&nbsp; Claros Mortgage Trust ‡ | 254 | 4252 |
| &nbsp;&nbsp; CME Group, Cl A | 816 | 144155 |
| &nbsp;&nbsp; CNA Financial | 51 | 2222 |
| &nbsp;&nbsp; CNB Financial | 40 | 965 |
| &nbsp;&nbsp; Coastal Financial \* | 20 | 913 |
| &nbsp;&nbsp; Cohen & Steers | 49 | 3600 |
| &nbsp;&nbsp; Coinbase Global, Cl A \* | 347 | 20293 |
| &nbsp;&nbsp; Colony Bankcorp | 32 | 412 |
| &nbsp;&nbsp; Columbia Banking System | 153 | 4729 |
| &nbsp;&nbsp; Columbia Financial \* | 64 | 1270 |
| &nbsp;&nbsp; Comerica | 297 | 21773 |
| &nbsp;&nbsp; Commerce Bancshares | 277 | 18437 |
| &nbsp;&nbsp; Community Bank System | 121 | 6983 |
| &nbsp;&nbsp; Community Trust Bancorp | 34 | 1465 |
| &nbsp;&nbsp; Compass Diversified Holdings | 122 | 2723 |
| &nbsp;&nbsp; ConnectOne Bancorp | 71 | 1688 |
| &nbsp;&nbsp; Cowen, Cl A | 50 | 1944 |
| &nbsp;&nbsp; Credit Acceptance \* | 17 | 7865 |
| &nbsp;&nbsp; CrossFirst Bankshares \* | 90 | 1215 |
| &nbsp;&nbsp; Cullen | 136 | 17718 |
| &nbsp;&nbsp; Customers Bancorp \* | 58 | 1761 |
| &nbsp;&nbsp; Diamond Hill Investment Group | 6 | 1131 |
| &nbsp;&nbsp; Dime Community Bancshares | 70 | 2087 |
| &nbsp;&nbsp; Discover Financial Services | 621 | 72489 |
| &nbsp;&nbsp; Donnelley Financial Solutions \* | 55 | 2509 |
| &nbsp;&nbsp; Dynex Capital ‡ | 86 | 1239 |
| &nbsp;&nbsp; Eagle Bancorp | 62 | 2944 |
| &nbsp;&nbsp; East West Bancorp | 319 | 25048 |
| &nbsp;&nbsp; Eastern Bankshares | 316 | 5110 |
| &nbsp;&nbsp; Ellington Financial ‡ | 110 | 1510 |
| &nbsp;&nbsp; Employers Holdings | 51 | 2237 |
| &nbsp;&nbsp; Enact Holdings | 371 | 9331 |
| &nbsp;&nbsp; Encore Capital Group \* | 45 | 2507 |
| &nbsp;&nbsp; Enova International \* | 60 | 2739 |
| &nbsp;&nbsp; Enstar Group \* | 25 | 6057 |
| &nbsp;&nbsp; Enterprise Bancorp | 18 | 640 |
| &nbsp;&nbsp; Enterprise Financial Services | 69 | 3679 |
| &nbsp;&nbsp; Equitable Holdings | 853 | 27356 |
| &nbsp;&nbsp; Equity Bancshares, Cl A | 27 | 806 |
| &nbsp;&nbsp; Erie Indemnity, Cl A | 57 | 13928 |
| &nbsp;&nbsp; Esquire Financial Holdings | 13 | 605 |
| &nbsp;&nbsp; Essent Group | 238 | 10479 |

---

**22** 

------

---

| | |
|:---|:---|
| **THE ADVISORS' INNER CIRCLE FUND III** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **KNIGHTS OF COLUMBUS** <br> **U.S. ALL CAP INDEX FUND** <br> **JANUARY 31, 2023** <br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(Unaudited)**  |

---

---

| | | |
|:---|:---|:---|
|  **COMMON STOCK — continued** | |  |
|  | <br> **Shares** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Value**  |
|  **FINANCIALS— continued** |  |  |
| &nbsp;&nbsp; Evercore, Cl A | 80 | $10385 |
| &nbsp;&nbsp; Everest Re Group | 66 | 23079 |
| &nbsp;&nbsp; EZCORP, Cl A \* | 102 | 929 |
| &nbsp;&nbsp; F&G Annuities & Life | 35 | 744 |
| &nbsp;&nbsp; FactSet Research Systems | 86 | 36373 |
| &nbsp;&nbsp; Farmers & Merchants Bancorp | 24 | 683 |
| &nbsp;&nbsp; Farmers National Banc | 61 | 877 |
| &nbsp;&nbsp; FB Financial | 69 | 2592 |
| &nbsp;&nbsp; Federal Agricultural Mortgage, Cl C | 18 | 2393 |
| &nbsp;&nbsp; Federated Hermes, Cl B | 192 | 7545 |
| &nbsp;&nbsp; Fidelity National Financial | 593 | 26110 |
| &nbsp;&nbsp; Fifth Third Bancorp | 1558 | 56540 |
| &nbsp;&nbsp; Financial Institutions | 29 | 717 |
| &nbsp;&nbsp; First American Financial | 227 | 14044 |
| &nbsp;&nbsp; First Bancorp | 19 | 564 |
| &nbsp;&nbsp; First Bancorp | 69 | 2750 |
| &nbsp;&nbsp; First Bancshares | 45 | 1379 |
| &nbsp;&nbsp; First Bank | 35 | 474 |
| &nbsp;&nbsp; First Busey | 100 | 2387 |
| &nbsp;&nbsp; First Business Financial Services | 16 | 573 |
| &nbsp;&nbsp; First Citizens BancShares, Cl A | 28 | 21526 |
| &nbsp;&nbsp; First Commonwealth Financial | 181 | 2663 |
| &nbsp;&nbsp; First Financial | 22 | 988 |
| &nbsp;&nbsp; First Financial Bancorp | 182 | 4610 |
| &nbsp;&nbsp; First Financial Bankshares | 294 | 10472 |
| &nbsp;&nbsp; First Foundation | 99 | 1537 |
| &nbsp;&nbsp; First Hawaiian | 290 | 7958 |
| &nbsp;&nbsp; First Horizon | 1206 | 29824 |
| &nbsp;&nbsp; First Internet Bancorp | 17 | 447 |
| &nbsp;&nbsp; First Interstate BancSystem, Cl A | 198 | 7088 |
| &nbsp;&nbsp; First Merchants | 115 | 4904 |
| &nbsp;&nbsp; First Mid Bancshares | 33 | 1060 |
| &nbsp;&nbsp; First of Long Island | 43 | 759 |
| &nbsp;&nbsp; First Republic Bank | 410 | 57761 |
| &nbsp;&nbsp; FirstCash Holdings | 86 | 7927 |
| &nbsp;&nbsp; Five Star Bancorp | 18 | 485 |
| &nbsp;&nbsp; Flushing Financial | 56 | 1075 |
| &nbsp;&nbsp; FNB | 787 | 11230 |
| &nbsp;&nbsp; Focus Financial Partners, Cl A \* | 113 | 5102 |
| &nbsp;&nbsp; Franklin BSP Realty Trust ‡ | 164 | 2378 |
| &nbsp;&nbsp; Franklin Resources | 643 | 20062 |
| &nbsp;&nbsp; Fulton Financial | 325 | 5437 |
| &nbsp;&nbsp; FVCBankcorp \* | 22 | 377 |
| &nbsp;&nbsp; GCM Grosvenor | 81 | 726 |
| &nbsp;&nbsp; Genworth Financial, Cl A \* | 976 | 5388 |
| &nbsp;&nbsp; German American Bancorp | 55 | 2119 |
| &nbsp;&nbsp; Glacier Bancorp | 251 | 11443 |
| &nbsp;&nbsp; Goldman Sachs Group | 780 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;285332 |
| &nbsp;&nbsp; Goosehead Insurance, Cl A \* | 40 | 1562 |
| &nbsp;&nbsp; Granite Point Mortgage Trust ‡ | 101 | 675 |
| &nbsp;&nbsp; Great Southern Bancorp | 18 | 1052 |
| &nbsp;&nbsp; Green Dot, Cl A \* | 102 | 1844 |
| &nbsp;&nbsp; Guaranty Bancshares | 18 | 594 |
| &nbsp;&nbsp; Hamilton Lane, Cl A | 68 | 5294 |
| &nbsp;&nbsp; Hancock Whitney | 193 | 9936 |

---

---

| | | |
|:---|:---|:---|
|  **COMMON STOCK — continued** | |  |
|  | <br> **Shares** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Value**  |
|  **FINANCIALS— continued** |  |  |
| &nbsp;&nbsp; Hanmi Financial | 59 | $1374 |
| &nbsp;&nbsp; Hannon Armstrong Sustainable Infrastructure Capital | 168 | 6201 |
| &nbsp;&nbsp; Hanover Insurance Group | 80 | 10766 |
| &nbsp;&nbsp; HarborOne Bancorp | 87 | 1187 |
| &nbsp;&nbsp; Hartford Financial Services Group | 735 | 57043 |
| &nbsp;&nbsp; HCI Group | 14 | 703 |
| &nbsp;&nbsp; Heartland Financial USA | 77 | 3809 |
| &nbsp;&nbsp; Heritage Commerce | 114 | 1382 |
| &nbsp;&nbsp; Heritage Financial | 68 | 1940 |
| &nbsp;&nbsp; Hilltop Holdings | 89 | 2910 |
| &nbsp;&nbsp; Hingham Institution For Savings The | 3 | 877 |
| &nbsp;&nbsp; Home Bancorp | 14 | 538 |
| &nbsp;&nbsp; Home BancShares | 435 | 10383 |
| &nbsp;&nbsp; HomeStreet | 35 | 965 |
| &nbsp;&nbsp; HomeTrust Bancshares | 28 | 756 |
| &nbsp;&nbsp; Hope Bancorp | 222 | 2862 |
| &nbsp;&nbsp; Horace Mann Educators | 80 | 2849 |
| &nbsp;&nbsp; Houlihan Lokey, Cl A | 113 | 11195 |
| &nbsp;&nbsp; Huntington Bancshares | 3252 | 49333 |
| &nbsp;&nbsp; Independent Bank | 104 | 8282 |
| &nbsp;&nbsp; Independent Bank Group | 69 | 4230 |
| &nbsp;&nbsp; Independent Bank/MI | 40 | 887 |
| &nbsp;&nbsp; Interactive Brokers Group, Cl A | 223 | 17827 |
| &nbsp;&nbsp; Intercontinental Exchange | 1258 | 135298 |
| &nbsp;&nbsp; International Bancshares | 102 | 4781 |
| &nbsp;&nbsp; Invesco | 1019 | 18862 |
| &nbsp;&nbsp; Invesco Mortgage Capital ‡ | 70 | 1025 |
| &nbsp;&nbsp; Jackson Financial, Cl A | 125 | 5505 |
| &nbsp;&nbsp; James River Group Holdings | 71 | 1609 |
| &nbsp;&nbsp; Jefferies Financial Group | 414 | 16262 |
| &nbsp;&nbsp; John Marshall Bancorp \* | 26 | 643 |
| &nbsp;&nbsp; JPMorgan Chase | 6623 | 926955 |
| &nbsp;&nbsp; Kearny Financial | 118 | 1107 |
| &nbsp;&nbsp; Kemper | 138 | 8105 |
| &nbsp;&nbsp; KeyCorp | 2120 | 40683 |
| &nbsp;&nbsp; Kinsale Capital Group | 49 | 13644 |
| &nbsp;&nbsp; KKR Real Estate Finance Trust ‡ | 132 | 2103 |
| &nbsp;&nbsp; Ladder Capital, Cl A ‡ | 221 | 2475 |
| &nbsp;&nbsp; Lakeland Bancorp | 120 | 2312 |
| &nbsp;&nbsp; Lakeland Financial | 48 | 3394 |
| &nbsp;&nbsp; Lazard, Cl A | 248 | 9940 |
| &nbsp;&nbsp; Lemonade \* | 92 | 1498 |
| &nbsp;&nbsp; LendingClub \* | 193 | 1870 |
| &nbsp;&nbsp; LendingTree \* | 21 | 833 |
| &nbsp;&nbsp; Lincoln National | 351 | 12436 |
| &nbsp;&nbsp; Live Oak Bancshares | 64 | 2191 |
| &nbsp;&nbsp; Loews | 458 | 28158 |
| &nbsp;&nbsp; LPL Financial Holdings | 180 | 42682 |
| &nbsp;&nbsp; Luther Burbank \* | 49 | 575 |
| &nbsp;&nbsp; M&T Bank | 400 | 62346 |
| &nbsp;&nbsp; Macatawa Bank | 54 | 595 |
| &nbsp;&nbsp; Markel \* | 30 | 42269 |
| &nbsp;&nbsp; MarketAxess Holdings | 84 | 30563 |
| &nbsp;&nbsp; Marsh & McLennan | 1136 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;198698 |

---

**23** 

------

---

| | |
|:---|:---|
| **THE ADVISORS' INNER CIRCLE FUND III** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **KNIGHTS OF COLUMBUS** <br> **U.S. ALL CAP INDEX FUND** <br> **JANUARY 31, 2023** <br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(Unaudited)**  |

---

---

| | | |
|:---|:---|:---|
|  **COMMON STOCK — continued** | **COMMON STOCK — continued** | **COMMON STOCK — continued** |
|  | **Shares** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Value**  |
|  **FINANCIALS— continued** |  |  |
| &nbsp;&nbsp; MBIA \* | 94 | $1223 |
| &nbsp;&nbsp; Mercantile Bank | 29 | 996 |
| &nbsp;&nbsp; Merchants Bancorp | 31 | 877 |
| &nbsp;&nbsp; Mercury General | 52 | 1858 |
| &nbsp;&nbsp; Metrocity Bankshares | 36 | 728 |
| &nbsp;&nbsp; MFA Financial ‡ | 177 | 2108 |
| &nbsp;&nbsp; MGIC Investment | 685 | 9672 |
| &nbsp;&nbsp; Mid Penn Bancorp | 27 | 850 |
| &nbsp;&nbsp; Midland States Bancorp | 41 | 1045 |
| &nbsp;&nbsp; MidWestOne Financial Group | 28 | 872 |
| &nbsp;&nbsp; Moelis, Cl A | 124 | 5797 |
| &nbsp;&nbsp; Montes Archimedes Acquisition, Cl A \* | 670 | 5561 |
| &nbsp;&nbsp; Moody's | 417 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;134587 |
| &nbsp;&nbsp; Morgan Stanley | 3045 | 296370 |
| &nbsp;&nbsp; Morningstar | 58 | 14087 |
| &nbsp;&nbsp; Mr Cooper Group \* | 130 | 5979 |
| &nbsp;&nbsp; MSCI, Cl A | 178 | 94618 |
| &nbsp;&nbsp; MVB Financial | 22 | 486 |
| &nbsp;&nbsp; Nasdaq | 777 | 46768 |
| &nbsp;&nbsp; National Bank Holdings, Cl A | 64 | 2703 |
| &nbsp;&nbsp; National Western Life Group, Cl A | 4 | 1107 |
| &nbsp;&nbsp; Navient | 269 | 5103 |
| &nbsp;&nbsp; NBT Bancorp | 82 | 3223 |
| &nbsp;&nbsp; Nelnet, Cl A | 26 | 2483 |
| &nbsp;&nbsp; NerdWallet, Cl A \* | 55 | 643 |
| &nbsp;&nbsp; New York Community Bancorp | 1507 | 15050 |
| &nbsp;&nbsp; New York Mortgage Trust ‡ | 733 | 2287 |
| &nbsp;&nbsp; Nicolet Bankshares \* | 23 | 1676 |
| &nbsp;&nbsp; NMI Holdings, Cl A \* | 163 | 3786 |
| &nbsp;&nbsp; Northeast Bank | 14 | 661 |
| &nbsp;&nbsp; Northern Trust | 466 | 45188 |
| &nbsp;&nbsp; Northfield Bancorp | 84 | 1256 |
| &nbsp;&nbsp; Northrim BanCorp | 11 | 589 |
| &nbsp;&nbsp; Northwest Bancshares | 235 | 3323 |
| &nbsp;&nbsp; OceanFirst Financial | 113 | 2703 |
| &nbsp;&nbsp; Old National Bancorp | 663 | 11599 |
| &nbsp;&nbsp; Old Republic International | 652 | 17206 |
| &nbsp;&nbsp; Old Second Bancorp | 81 | 1376 |
| &nbsp;&nbsp; OneMain Holdings, Cl A | 281 | 12122 |
| &nbsp;&nbsp; Open Lending, Cl A \* | 205 | 1798 |
| &nbsp;&nbsp; Oppenheimer Holdings, Cl A | 14 | 667 |
| &nbsp;&nbsp; Orchid Island Capital, Cl A ‡ | 66 | 805 |
| &nbsp;&nbsp; Origin Bancorp | 42 | 1575 |
| &nbsp;&nbsp; Orrstown Financial Services | 20 | 495 |
| &nbsp;&nbsp; Pacific Premier Bancorp | 209 | 6759 |
| &nbsp;&nbsp; PacWest Bancorp | 229 | 6334 |
| &nbsp;&nbsp; Palomar Holdings \* | 48 | 2453 |
| &nbsp;&nbsp; Park National | 31 | 3883 |
| &nbsp;&nbsp; Pathward Financial | 56 | 2779 |
| &nbsp;&nbsp; PCB Bancorp | 24 | 446 |
| &nbsp;&nbsp; Peapack-Gladstone Financial | 32 | 1187 |
| &nbsp;&nbsp; PennyMac Financial Services | 91 | 6135 |
| &nbsp;&nbsp; PennyMac Mortgage Investment Trust ‡ | 176 | 2684 |
| &nbsp;&nbsp; Peoples Bancorp | 54 | 1602 |

---

---

| | | |
|:---|:---|:---|
|  **COMMON STOCK — continued** | |  |
|  | <br> **Shares** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Value**  |
|  **FINANCIALS— continued** |  |  |
| &nbsp;&nbsp; Peoples Financial Services | 14 | $714 |
| &nbsp;&nbsp; Perella Weinberg Partners, Cl A | 73 | 748 |
| &nbsp;&nbsp; Pinnacle Financial Partners | 171 | 13463 |
| &nbsp;&nbsp; Piper Sandler | 33 | 4689 |
| &nbsp;&nbsp; PJT Partners | 44 | 3521 |
| &nbsp;&nbsp; PNC Financial Services Group | 919 | 152030 |
| &nbsp;&nbsp; PRA Group \* | 74 | 2978 |
| &nbsp;&nbsp; Premier Financial | 69 | 1726 |
| &nbsp;&nbsp; Primerica | 85 | 13749 |
| &nbsp;&nbsp; Primis Financial | 41 | 485 |
| &nbsp;&nbsp; Principal Financial Group | 566 | 52383 |
| &nbsp;&nbsp; ProAssurance | 104 | 2017 |
| &nbsp;&nbsp; Professional Holding, Cl A \* | 25 | 716 |
| &nbsp;&nbsp; PROG Holdings \* | 97 | 2162 |
| &nbsp;&nbsp; Progressive | 1330 | 181345 |
| &nbsp;&nbsp; Prosperity Bancshares | 199 | 15096 |
| &nbsp;&nbsp; Provident Financial Services | 135 | 3167 |
| &nbsp;&nbsp; Prudential Financial | 848 | 88989 |
| &nbsp;&nbsp; QCR Holdings | 32 | 1682 |
| &nbsp;&nbsp; Radian Group | 314 | 6939 |
| &nbsp;&nbsp; Raymond James Financial | 443 | 49985 |
| &nbsp;&nbsp; RBB Bancorp | 31 | 624 |
| &nbsp;&nbsp; Ready Capital ‡ | 222 | 2937 |
| &nbsp;&nbsp; Red River Bancshares | 9 | 458 |
| &nbsp;&nbsp; Redwood Trust ‡ | 220 | 1839 |
| &nbsp;&nbsp; Regional Management | 17 | 586 |
| &nbsp;&nbsp; Regions Financial | 2128 | 50093 |
| &nbsp;&nbsp; Reinsurance Group of America, Cl A | 152 | 23069 |
| &nbsp;&nbsp; Renasant | 107 | 3807 |
| &nbsp;&nbsp; Republic Bancorp, Cl A | 16 | 720 |
| &nbsp;&nbsp; Rithm Capital ‡ | 1059 | 9965 |
| &nbsp;&nbsp; RLI | 92 | 12185 |
| &nbsp;&nbsp; Robinhood Markets, Cl A \* | 959 | 9983 |
| &nbsp;&nbsp; Rocket, Cl A \* | 201 | 1891 |
| &nbsp;&nbsp; Ryan Specialty Holdings, Cl A \* | 191 | 8140 |
| &nbsp;&nbsp; S&P Global | 760 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;284974 |
| &nbsp;&nbsp; S&T Bancorp | 75 | 2728 |
| &nbsp;&nbsp; Safety Insurance Group | 28 | 2363 |
| &nbsp;&nbsp; Sandy Spring Bancorp | 85 | 2873 |
| &nbsp;&nbsp; Seacoast Banking Corp of Florida | 118 | 3789 |
| &nbsp;&nbsp; SEI Investments | 253 | 15795 |
| &nbsp;&nbsp; Selective Insurance Group | 135 | 12825 |
| &nbsp;&nbsp; ServisFirst Bancshares | 114 | 7773 |
| &nbsp;&nbsp; Shore Bancshares | 36 | 629 |
| &nbsp;&nbsp; Sierra Bancorp | 27 | 569 |
| &nbsp;&nbsp; Signature Bank NY | 144 | 18569 |
| &nbsp;&nbsp; Silvergate Capital, Cl A \* | 60 | 854 |
| &nbsp;&nbsp; Simmons First National, Cl A | 253 | 5645 |
| &nbsp;&nbsp; SLM | 567 | 9962 |
| &nbsp;&nbsp; SmartFinancial | 28 | 755 |
| &nbsp;&nbsp; SoFi Technologies \* | 1619 | 11220 |
| &nbsp;&nbsp; South Plains Financial | 20 | 562 |
| &nbsp;&nbsp; Southern First Bancshares \* | 15 | 631 |
| &nbsp;&nbsp; Southern Missouri Bancorp | 15 | 726 |
| &nbsp;&nbsp; Southside Bancshares | 60 | 2273 |

---

**24** 

------

---

| | |
|:---|:---|
| **THE ADVISORS' INNER CIRCLE FUND III** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **KNIGHTS OF COLUMBUS** <br> **U.S. ALL CAP INDEX FUND** <br> **JANUARY 31, 2023** <br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(Unaudited)**  |

---

---

| | | |
|:---|:---|:---|
|  **COMMON STOCK — continued** | **COMMON STOCK — continued** |  |
|  | **Shares** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Value**  |
|  **FINANCIALS— continued** |  |  |
| &nbsp;&nbsp; SouthState | 170 | $13561 |
| &nbsp;&nbsp; Starwood Property Trust ‡ | 663 | 13850 |
| &nbsp;&nbsp; State Street | 835 | 76261 |
| &nbsp;&nbsp; Stellar Bancorp | 77 | 2171 |
| &nbsp;&nbsp; StepStone Group, Cl A | 95 | 2773 |
| &nbsp;&nbsp; Stewart Information Services | 52 | 2484 |
| &nbsp;&nbsp; Stifel Financial | 234 | 15774 |
| &nbsp;&nbsp; Stock Yards Bancorp | 55 | 3298 |
| &nbsp;&nbsp; StoneX Group \* | 34 | 2988 |
| &nbsp;&nbsp; Summit Financial Group | 20 | 519 |
| &nbsp;&nbsp; SVB Financial Group \* | 134 | 40527 |
| &nbsp;&nbsp; SWK Holdings \* | 24 | 453 |
| &nbsp;&nbsp; Synchrony Financial | 1093 | 40146 |
| &nbsp;&nbsp; Synovus Financial | 329 | 13802 |
| &nbsp;&nbsp; T Rowe Price Group | 508 | 59167 |
| &nbsp;&nbsp; Texas Capital Bancshares \* | 97 | 6409 |
| &nbsp;&nbsp; TFS Financial | 101 | 1439 |
| &nbsp;&nbsp; Tiptree | 42 | 630 |
| &nbsp;&nbsp; Tompkins Financial | 25 | 1883 |
| &nbsp;&nbsp; Towne Bank | 132 | 4022 |
| &nbsp;&nbsp; TPG, Cl A | 120 | 3865 |
| &nbsp;&nbsp; TPG RE Finance Trust ‡ | 120 | 1045 |
| &nbsp;&nbsp; Tradeweb Markets, Cl A | 243 | 18113 |
| &nbsp;&nbsp; Travelers | 533 | 101867 |
| &nbsp;&nbsp; TriCo Bancshares | 60 | 3033 |
| &nbsp;&nbsp; Triumph Financial \* | 45 | 2508 |
| &nbsp;&nbsp; Truist Financial | 3019 | 149108 |
| &nbsp;&nbsp; Trupanion \* | 65 | 3836 |
| &nbsp;&nbsp; TrustCo Bank NY | 36 | 1293 |
| &nbsp;&nbsp; Trustmark | 110 | 3203 |
| &nbsp;&nbsp; Two Harbors Investment ‡ | 168 | 3009 |
| &nbsp;&nbsp; UMB Financial | 103 | 9290 |
| &nbsp;&nbsp; United Bankshares | 300 | 12060 |
| &nbsp;&nbsp; United Community Banks | 242 | 7865 |
| &nbsp;&nbsp; United Fire Group | 48 | 1512 |
| &nbsp;&nbsp; Universal Insurance Holdings | 54 | 688 |
| &nbsp;&nbsp; Univest Financial | 56 | 1520 |
| &nbsp;&nbsp; Upstart Holdings \* | 135 | 2522 |
| &nbsp;&nbsp; US Bancorp | 3385 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;168573 |
| &nbsp;&nbsp; UWM Holdings | 162 | 742 |
| &nbsp;&nbsp; Valley National Bancorp | 973 | 11559 |
| &nbsp;&nbsp; Veritex Holdings | 103 | 2899 |
| &nbsp;&nbsp; Victory Capital Holdings, Cl A | 52 | 1541 |
| &nbsp;&nbsp; Virtu Financial, Cl A | 199 | 3843 |
| &nbsp;&nbsp; Virtus Investment Partners | 13 | 2793 |
| &nbsp;&nbsp; Voya Financial | 221 | 15419 |
| &nbsp;&nbsp; Walker & Dunlop | 60 | 5723 |
| &nbsp;&nbsp; Washington Federal | 126 | 4468 |
| &nbsp;&nbsp; Washington Trust Bancorp | 33 | 1411 |
| &nbsp;&nbsp; Waterstone Financial | 39 | 628 |
| &nbsp;&nbsp; Webster Financial | 401 | 21105 |
| &nbsp;&nbsp; Wells Fargo | 8702 | 407863 |
| &nbsp;&nbsp; WesBanco | 114 | 4237 |
| &nbsp;&nbsp; West Bancorporation | 29 | 635 |
| &nbsp;&nbsp; Westamerica Bancorporation | 53 | 2945 |
| &nbsp;&nbsp; Western Alliance Bancorp | 241 | 18164 |

---

---

| | | |
|:---|:---|:---|
|  **COMMON STOCK — continued** | |  |
|  | <br> **Shares** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Value**  |
|  **FINANCIALS— continued** |  |  |
| &nbsp;&nbsp; White Mountains Insurance Group | 7 | $10696 |
| &nbsp;&nbsp; Willis Towers Watson PLC | 245 | 62277 |
| &nbsp;&nbsp; Wintrust Financial | 136 | 12440 |
| &nbsp;&nbsp; WisdomTree | 216 | 1244 |
| &nbsp;&nbsp; World Acceptance \* | 10 | 957 |
| &nbsp;&nbsp; WR Berkley | 479 | 33562 |
| &nbsp;&nbsp; WSFS Financial | 124 | 6010 |
| &nbsp;&nbsp; Zions Bancorp | 338 | 17968 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10935989 |
|  **HEALTH CARE — 5.7%** |  |  |
| &nbsp;&nbsp; 1Life Healthcare \* | 315 | 5037 |
| &nbsp;&nbsp; 23andMe Holding, Cl A \* | 434 | 1085 |
| &nbsp;&nbsp; 2seventy bio \* | 69 | 938 |
| &nbsp;&nbsp; 89bio \* | 69 | 806 |
| &nbsp;&nbsp; Acadia Healthcare \* | 203 | 17056 |
| &nbsp;&nbsp; ACADIA Pharmaceuticals \* | 313 | 5956 |
| &nbsp;&nbsp; Accolade \* | 126 | 1470 |
| &nbsp;&nbsp; Aclaris Therapeutics \* | 101 | 1707 |
| &nbsp;&nbsp; AdaptHealth, Cl A \* | 134 | 2872 |
| &nbsp;&nbsp; Adaptive Biotechnologies \* | 274 | 2540 |
| &nbsp;&nbsp; Addus HomeCare \* | 31 | 3333 |
| &nbsp;&nbsp; Adicet Bio \* | 52 | 476 |
| &nbsp;&nbsp; ADMA Biologics \* | 368 | 1358 |
| &nbsp;&nbsp; Agenus \* | 498 | 1300 |
| &nbsp;&nbsp; Agiliti \* | 65 | 1199 |
| &nbsp;&nbsp; Agilon Health \* | 474 | 10314 |
| &nbsp;&nbsp; Agios Pharmaceuticals \* | 103 | 3036 |
| &nbsp;&nbsp; Akero Therapeutics \* | 66 | 3267 |
| &nbsp;&nbsp; Albireo Pharma \* | 36 | 1608 |
| &nbsp;&nbsp; Aldeyra Therapeutics \* | 110 | 649 |
| &nbsp;&nbsp; Alector \* | 119 | 1050 |
| &nbsp;&nbsp; Align Technology \* | 167 | 45045 |
| &nbsp;&nbsp; Alignment Healthcare \* | 182 | 2248 |
| &nbsp;&nbsp; Alkermes PLC \* | 370 | 10597 |
| &nbsp;&nbsp; Allogene Therapeutics \* | 154 | 1189 |
| &nbsp;&nbsp; Allovir \* | 59 | 341 |
| &nbsp;&nbsp; Alnylam Pharmaceuticals \* | 272 | 61581 |
| &nbsp;&nbsp; Alphatec Holdings \* | 127 | 1654 |
| &nbsp;&nbsp; Altimmune \* | 95 | 1296 |
| &nbsp;&nbsp; ALX Oncology Holdings \* | 36 | 335 |
| &nbsp;&nbsp; Amedisys \* | 62 | 5993 |
| &nbsp;&nbsp; American Well, Cl A \* | 399 | 1584 |
| &nbsp;&nbsp; Amgen | 1219 | 307676 |
| &nbsp;&nbsp; Amicus Therapeutics \* | 620 | 8085 |
| &nbsp;&nbsp; AMN Healthcare Services \* | 98 | 9392 |
| &nbsp;&nbsp; Amylyx Pharmaceuticals \* | 70 | 2743 |
| &nbsp;&nbsp; AnaptysBio \* | 51 | 1269 |
| &nbsp;&nbsp; Anavex Life Sciences \* | 148 | 1609 |
| &nbsp;&nbsp; AngioDynamics \* | 74 | 963 |
| &nbsp;&nbsp; ANI Pharmaceuticals \* | 25 | 1118 |
| &nbsp;&nbsp; Apellis Pharmaceuticals \* | 208 | 10968 |
| &nbsp;&nbsp; Apollo Medical Holdings \* | 75 | 2673 |
| &nbsp;&nbsp; Arcellx \* | 42 | 1403 |
| &nbsp;&nbsp; Arcturus Therapeutics Holdings \* | 45 | 951 |

---

**25** 

------

---

| | |
|:---|:---|
| **THE ADVISORS' INNER CIRCLE FUND III** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **KNIGHTS OF COLUMBUS** <br> **U.S. ALL CAP INDEX FUND** <br> **JANUARY 31, 2023** <br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(Unaudited)**  |

---

---

| | | |
|:---|:---|:---|
|  **COMMON STOCK — continued** | |  |
|  | <br> **Shares** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Value**  |
|  **HEALTH CARE— continued** |  |  |
| &nbsp;&nbsp; Arcus Biosciences \* | 87 | $1882 |
| &nbsp;&nbsp; Arcutis Biotherapeutics \* | 82 | 1359 |
| &nbsp;&nbsp; Arrowhead Pharmaceuticals \* | 233 | 8153 |
| &nbsp;&nbsp; Artivion \* | 76 | 991 |
| &nbsp;&nbsp; Arvinas \* | 90 | 2949 |
| &nbsp;&nbsp; Atara Biotherapeutics \* | 178 | 902 |
| &nbsp;&nbsp; Atea Pharmaceuticals \* | 144 | 667 |
| &nbsp;&nbsp; AtriCure \* | 88 | 3809 |
| &nbsp;&nbsp; Atrion | 3 | 2062 |
| &nbsp;&nbsp; Aura Biosciences \* | 35 | 364 |
| &nbsp;&nbsp; Avanos Medical \* | 90 | 2758 |
| &nbsp;&nbsp; Avidity Biosciences \* | 92 | 2180 |
| &nbsp;&nbsp; Axonics \* | 110 | 6754 |
| &nbsp;&nbsp; Axsome Therapeutics \* | 63 | 4725 |
| &nbsp;&nbsp; Azenta \* | 169 | 9447 |
| &nbsp;&nbsp; Beam Therapeutics \* | 108 | 4693 |
| &nbsp;&nbsp; BioCryst Pharmaceuticals \* | 359 | 3787 |
| &nbsp;&nbsp; BioMarin Pharmaceutical \* | 415 | 47870 |
| &nbsp;&nbsp; Bionano Genomics \* | 558 | 1010 |
| &nbsp;&nbsp; Bluebird Bio \* | 148 | 940 |
| &nbsp;&nbsp; Blueprint Medicines \* | 113 | 5282 |
| &nbsp;&nbsp; Boston Scientific \* | 3242 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;149943 |
| &nbsp;&nbsp; Bridgebio Pharma \* | 206 | 1912 |
| &nbsp;&nbsp; Bristol-Myers Squibb | 4864 | 353370 |
| &nbsp;&nbsp; Brookdale Senior Living \* | 357 | 1028 |
| &nbsp;&nbsp; Bruker | 228 | 15987 |
| &nbsp;&nbsp; Butterfly Network \* | 290 | 798 |
| &nbsp;&nbsp; C4 Therapeutics \* | 75 | 584 |
| &nbsp;&nbsp; Cano Health \* | 303 | 418 |
| &nbsp;&nbsp; Cara Therapeutics \* | 82 | 958 |
| &nbsp;&nbsp; Cardiovascular Systems \* | 78 | 1087 |
| &nbsp;&nbsp; CareDx \* | 102 | 1524 |
| &nbsp;&nbsp; CareMax \* | 136 | 638 |
| &nbsp;&nbsp; Caribou Biosciences \* | 99 | 714 |
| &nbsp;&nbsp; Cassava Sciences \* | 74 | 2072 |
| &nbsp;&nbsp; Castle Biosciences \* | 48 | 1300 |
| &nbsp;&nbsp; Catalent \* | 395 | 21152 |
| &nbsp;&nbsp; Catalyst Pharmaceuticals \* | 189 | 2928 |
| &nbsp;&nbsp; Celldex Therapeutics \* | 88 | 3877 |
| &nbsp;&nbsp; Cerevel Therapeutics Holdings \* | 131 | 4474 |
| &nbsp;&nbsp; Certara \* | 198 | 3841 |
| &nbsp;&nbsp; Cerus \* | 336 | 1055 |
| &nbsp;&nbsp; Chemed | 34 | 17175 |
| &nbsp;&nbsp; Chinook Therapeutics \* | 89 | 2249 |
| &nbsp;&nbsp; CinCor Pharma \* | 31 | 897 |
| &nbsp;&nbsp; Codexis \* | 124 | 763 |
| &nbsp;&nbsp; Cogent Biosciences \* | 107 | 1611 |
| &nbsp;&nbsp; Coherus Biosciences \* | 143 | 1213 |
| &nbsp;&nbsp; Collegium Pharmaceutical \* | 64 | 1797 |
| &nbsp;&nbsp; Computer Programs and Systems \* | 28 | 823 |
| &nbsp;&nbsp; Concert Pharmaceuticals \* | 89 | 742 |
| &nbsp;&nbsp; CONMED | 59 | 5650 |
| &nbsp;&nbsp; CorVel \* | 18 | 3207 |
| &nbsp;&nbsp; Crinetics Pharmaceuticals \* | 85 | 1667 |
| &nbsp;&nbsp; Cross Country Healthcare \* | 71 | 1970 |
| &nbsp;&nbsp; CryoPort \* | 93 | 2123 |

---

---

| | | |
|:---|:---|:---|
|  **COMMON STOCK — continued** | |  |
|  | <br> **Shares** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Value**  |
|  **HEALTH CARE— continued** |  |  |
| &nbsp;&nbsp; CTI BioPharma \* | 203 | $1123 |
| &nbsp;&nbsp; Cue Health \* | 169 | 443 |
| &nbsp;&nbsp; Cullinan Oncology \* | 56 | 652 |
| &nbsp;&nbsp; Cutera \* | 37 | 1289 |
| &nbsp;&nbsp; Cymabay Therapeutics \* | 157 | 1317 |
| &nbsp;&nbsp; Cytokinetics \* | 201 | 8538 |
| &nbsp;&nbsp; DaVita \* | 206 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16972 |
| &nbsp;&nbsp; Day One Biopharmaceuticals \* | 69 | 1502 |
| &nbsp;&nbsp; Deciphera Pharmaceuticals \* | 92 | 1565 |
| &nbsp;&nbsp; Definitive Healthcare, Cl A \* | 61 | 755 |
| &nbsp;&nbsp; Denali Therapeutics \* | 234 | 7083 |
| &nbsp;&nbsp; DENTSPLY SIRONA | 490 | 18047 |
| &nbsp;&nbsp; Design Therapeutics \* | 61 | 479 |
| &nbsp;&nbsp; Dexcom \* | 885 | 94775 |
| &nbsp;&nbsp; DICE Therapeutics \* | 69 | 2192 |
| &nbsp;&nbsp; DocGo \* | 153 | 1530 |
| &nbsp;&nbsp; Doximity, Cl A \* | 219 | 7724 |
| &nbsp;&nbsp; Dynavax Technologies, Cl A \* | 237 | 2697 |
| &nbsp;&nbsp; Dyne Therapeutics \* | 56 | 818 |
| &nbsp;&nbsp; Edgewise Therapeutics \* | 63 | 644 |
| &nbsp;&nbsp; Editas Medicine, Cl A \* | 134 | 1325 |
| &nbsp;&nbsp; Edwards Lifesciences \* | 1400 | 107380 |
| &nbsp;&nbsp; Elanco Animal Health \* | 1078 | 14801 |
| &nbsp;&nbsp; Eli Lilly | 1928 | 663521 |
| &nbsp;&nbsp; Embecta | 113 | 2982 |
| &nbsp;&nbsp; Emergent BioSolutions \* | 80 | 1055 |
| &nbsp;&nbsp; Enanta Pharmaceuticals \* | 38 | 2028 |
| &nbsp;&nbsp; Encompass Health | 222 | 13864 |
| &nbsp;&nbsp; Ensign Group | 120 | 11190 |
| &nbsp;&nbsp; Entrada Therapeutics \* | 33 | 401 |
| &nbsp;&nbsp; Envista Holdings \* | 371 | 14465 |
| &nbsp;&nbsp; EQRx \* | 371 | 909 |
| &nbsp;&nbsp; Erasca \* | 127 | 508 |
| &nbsp;&nbsp; Esperion Therapeutics \* | 129 | 820 |
| &nbsp;&nbsp; Evolent Health, Cl A \* | 172 | 5542 |
| &nbsp;&nbsp; Evolus \* | 72 | 748 |
| &nbsp;&nbsp; Exact Sciences \* | 400 | 27008 |
| &nbsp;&nbsp; Exelixis \* | 719 | 12669 |
| &nbsp;&nbsp; Fate Therapeutics \* | 178 | 1061 |
| &nbsp;&nbsp; FibroGen \* | 169 | 3988 |
| &nbsp;&nbsp; Figs, Cl A \* | 250 | 2238 |
| &nbsp;&nbsp; Fulcrum Therapeutics \* | 82 | 1034 |
| &nbsp;&nbsp; Fulgent Genetics \* | 41 | 1385 |
| &nbsp;&nbsp; G1 Therapeutics \* | 68 | 543 |
| &nbsp;&nbsp; Generation Bio \* | 94 | 555 |
| &nbsp;&nbsp; Gilead Sciences | 2858 | 239901 |
| &nbsp;&nbsp; Glaukos \* | 89 | 4365 |
| &nbsp;&nbsp; GoodRx Holdings, Cl A \* | 137 | 766 |
| &nbsp;&nbsp; Gossamer Bio \* | 150 | 396 |
| &nbsp;&nbsp; Guardant Health \* | 220 | 6915 |
| &nbsp;&nbsp; Haemonetics \* | 116 | 9814 |
| &nbsp;&nbsp; Halozyme Therapeutics \* | 312 | 16152 |
| &nbsp;&nbsp; Harmony Biosciences Holdings \* | 61 | 2938 |
| &nbsp;&nbsp; Harrow Health \* | 48 | 721 |
| &nbsp;&nbsp; Health Catalyst \* | 103 | 1432 |
| &nbsp;&nbsp; HealthEquity \* | 188 | 11440 |

---

**26** 

------

---

| | |
|:---|:---|
| **THE ADVISORS' INNER CIRCLE FUND III** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **KNIGHTS OF COLUMBUS** <br> **U.S. ALL CAP INDEX FUND** <br> **JANUARY 31, 2023** <br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(Unaudited)**  |

---

---

| | | |
|:---|:---|:---|
|  **COMMON STOCK — continued** | |  |
|  | <br> **Shares** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Value**  |
|  **HEALTH CARE— continued** |  |  |
| &nbsp;&nbsp; HealthStream \* | 47 | $1136 |
| &nbsp;&nbsp; Heron Therapeutics \* | 201 | 545 |
| &nbsp;&nbsp; Heska \* | 20 | 1789 |
| &nbsp;&nbsp; HilleVax \* | 27 | 462 |
| &nbsp;&nbsp; Hims & Hers Health \* | 207 | 1714 |
| &nbsp;&nbsp; Hologic \* | 563 | 45811 |
| &nbsp;&nbsp; Horizon Therapeutics PLC \* | 515 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;56506 |
| &nbsp;&nbsp; ICU Medical \* | 45 | 8695 |
| &nbsp;&nbsp; Ideaya Biosciences \* | 75 | 1277 |
| &nbsp;&nbsp; IDEXX Laboratories \* | 188 | 90334 |
| &nbsp;&nbsp; Immuneering, Cl A \* | 38 | 159 |
| &nbsp;&nbsp; Immunic \* | 62 | 149 |
| &nbsp;&nbsp; ImmunityBio \* | 163 | 619 |
| &nbsp;&nbsp; ImmunoGen \* | 429 | 1973 |
| &nbsp;&nbsp; Immunovant \* | 86 | 1528 |
| &nbsp;&nbsp; Inari Medical \* | 105 | 5990 |
| &nbsp;&nbsp; Incyte \* | 502 | 42740 |
| &nbsp;&nbsp; Inhibrx \* | 50 | 1250 |
| &nbsp;&nbsp; Innoviva \* | 136 | 1720 |
| &nbsp;&nbsp; Inogen \* | 43 | 1003 |
| &nbsp;&nbsp; Inovio Pharmaceuticals \* | 482 | 800 |
| &nbsp;&nbsp; Insmed \* | 257 | 5533 |
| &nbsp;&nbsp; Inspire Medical Systems \* | 64 | 16196 |
| &nbsp;&nbsp; Instil Bio \* | 123 | 100 |
| &nbsp;&nbsp; Insulet \* | 157 | 45109 |
| &nbsp;&nbsp; Integer Holdings \* | 64 | 4212 |
| &nbsp;&nbsp; Integra LifeSciences Holdings \* | 165 | 9455 |
| &nbsp;&nbsp; Intellia Therapeutics \* | 138 | 5857 |
| &nbsp;&nbsp; Intercept Pharmaceuticals \* | 69 | 1260 |
| &nbsp;&nbsp; Intra-Cellular Therapies \* | 197 | 9440 |
| &nbsp;&nbsp; Intuitive Surgical \* | 801 | 196798 |
| &nbsp;&nbsp; Invitae \* | 452 | 1067 |
| &nbsp;&nbsp; Ionis Pharmaceuticals \* | 320 | 12758 |
| &nbsp;&nbsp; Iovance Biotherapeutics \* | 278 | 2213 |
| &nbsp;&nbsp; iRadimed \* | 14 | 524 |
| &nbsp;&nbsp; iRhythm Technologies \* | 58 | 5701 |
| &nbsp;&nbsp; Ironwood Pharmaceuticals, Cl A \* | 292 | 3364 |
| &nbsp;&nbsp; iTeos Therapeutics \* | 57 | 1191 |
| &nbsp;&nbsp; IVERIC bio \* | 210 | 4851 |
| &nbsp;&nbsp; Jazz Pharmaceuticals PLC \* | 138 | 21619 |
| &nbsp;&nbsp; Joint \* | 28 | 509 |
| &nbsp;&nbsp; Kala Pharmaceuticals \* | 2 | 35 |
| &nbsp;&nbsp; Karuna Therapeutics \* | 58 | 11565 |
| &nbsp;&nbsp; Kezar Life Sciences \* | 114 | 817 |
| &nbsp;&nbsp; Kiniksa Pharmaceuticals, Cl A \* | 65 | 940 |
| &nbsp;&nbsp; Krystal Biotech \* | 40 | 3325 |
| &nbsp;&nbsp; Kura Oncology \* | 124 | 1714 |
| &nbsp;&nbsp; Kymera Therapeutics \* | 84 | 3140 |
| &nbsp;&nbsp; Lantheus Holdings \* | 153 | 8798 |
| &nbsp;&nbsp; LeMaitre Vascular | 38 | 1793 |
| &nbsp;&nbsp; LHC Group \* | 67 | 10626 |
| &nbsp;&nbsp; LifeStance Health Group \* | 135 | 713 |
| &nbsp;&nbsp; Liquidia \* | 111 | 733 |
| &nbsp;&nbsp; LivaNova PLC \* | 105 | 5901 |
| &nbsp;&nbsp; Lyell Immunopharma \* | 160 | 523 |
| &nbsp;&nbsp; MacroGenics \* | 117 | 675 |

---

---

| | | |
|:---|:---|:---|
|  **COMMON STOCK — continued** | |  |
|  | <br> **Shares** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Value**  |
|  **HEALTH CARE— continued** |  |  |
| &nbsp;&nbsp; Madrigal Pharmaceuticals \* | 24 | $6918 |
| &nbsp;&nbsp; MannKind \* | 491 | 2686 |
| &nbsp;&nbsp; Masimo \* | 110 | 18709 |
| &nbsp;&nbsp; MeiraGTx Holdings PLC \* | 68 | 568 |
| &nbsp;&nbsp; Meridian Bioscience \* | 84 | 2853 |
| &nbsp;&nbsp; Merit Medical Systems \* | 127 | 9061 |
| &nbsp;&nbsp; Mersana Therapeutics \* | 152 | 1000 |
| &nbsp;&nbsp; Mesa Laboratories | 10 | 1945 |
| &nbsp;&nbsp; Mettler-Toledo International \* | 51 | 78179 |
| &nbsp;&nbsp; Mirati Therapeutics \* | 102 | 5448 |
| &nbsp;&nbsp; Mirum Pharmaceuticals \* | 44 | 1033 |
| &nbsp;&nbsp; Moderna \* | 769 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;135390 |
| &nbsp;&nbsp; ModivCare \* | 27 | 2896 |
| &nbsp;&nbsp; Monte Rosa Therapeutics \* | 58 | 429 |
| &nbsp;&nbsp; Morphic Holding \* | 55 | 1800 |
| &nbsp;&nbsp; Multiplan \* | 516 | 681 |
| &nbsp;&nbsp; Myovant Sciences \* | 84 | 2258 |
| &nbsp;&nbsp; Myriad Genetics \* | 151 | 2978 |
| &nbsp;&nbsp; Natera \* | 199 | 8543 |
| &nbsp;&nbsp; National HealthCare | 25 | 1489 |
| &nbsp;&nbsp; National Research | 27 | 1253 |
| &nbsp;&nbsp; Nektar Therapeutics, Cl A \* | 361 | 982 |
| &nbsp;&nbsp; Neogen \* | 493 | 10555 |
| &nbsp;&nbsp; Neurocrine Biosciences \* | 214 | 23739 |
| &nbsp;&nbsp; Nevro \* | 65 | 2387 |
| &nbsp;&nbsp; NextGen Healthcare \* | 108 | 2054 |
| &nbsp;&nbsp; Nkarta \* | 65 | 346 |
| &nbsp;&nbsp; Novavax \* | 153 | 1669 |
| &nbsp;&nbsp; Nurix Therapeutics \* | 77 | 946 |
| &nbsp;&nbsp; Nutex Health \* | 605 | 811 |
| &nbsp;&nbsp; Nuvalent, Cl A \* | 71 | 2148 |
| &nbsp;&nbsp; Nuvation Bio \* | 268 | 659 |
| &nbsp;&nbsp; Oak Street Health \* | 227 | 6597 |
| &nbsp;&nbsp; Ocugen \* | 416 | 528 |
| &nbsp;&nbsp; Ocular Therapeutix \* | 150 | 587 |
| &nbsp;&nbsp; Omnicell \* | 85 | 4715 |
| &nbsp;&nbsp; OptimizeRx \* | 32 | 574 |
| &nbsp;&nbsp; Option Care Health \* | 353 | 10191 |
| &nbsp;&nbsp; OraSure Technologies \* | 136 | 759 |
| &nbsp;&nbsp; OrthoPediatrics \* | 25 | 1178 |
| &nbsp;&nbsp; Outset Medical \* | 90 | 2531 |
| &nbsp;&nbsp; Owens & Minor \* | 144 | 2843 |
| &nbsp;&nbsp; Pacific Biosciences of California \* | 397 | 4403 |
| &nbsp;&nbsp; Pacira BioSciences \* | 87 | 3416 |
| &nbsp;&nbsp; Paragon 28 \* | 49 | 826 |
| &nbsp;&nbsp; Patterson | 169 | 5102 |
| &nbsp;&nbsp; PDL BioPharma \*(A) | 64 |  |
| &nbsp;&nbsp; Pennant Group \* | 53 | 686 |
| &nbsp;&nbsp; Penumbra \* | 81 | 20283 |
| &nbsp;&nbsp; Phathom Pharmaceuticals \* | 32 | 382 |
| &nbsp;&nbsp; Phibro Animal Health, Cl A | 40 | 616 |
| &nbsp;&nbsp; Phreesia \* | 97 | 3637 |
| &nbsp;&nbsp; Pliant Therapeutics \* | 77 | 2698 |
| &nbsp;&nbsp; PMV Pharmaceuticals \* | 60 | 492 |
| &nbsp;&nbsp; Point Biopharma Global, Cl A \* | 160 | 1280 |
| &nbsp;&nbsp; Poseida Therapeutics, Cl A \* | 108 | 752 |

---

**27** 

------

---

| | |
|:---|:---|
| **THE ADVISORS' INNER CIRCLE FUND III** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **KNIGHTS OF COLUMBUS** <br> **U.S. ALL CAP INDEX FUND** <br> **JANUARY 31, 2023** <br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(Unaudited)**  |

---

---

| | | |
|:---|:---|:---|
|  **COMMON STOCK — continued** | |  |
|  | <br> **Shares** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Value**  |
|  **HEALTH CARE— continued** |  |  |
| &nbsp;&nbsp; Premier, Cl A | 267 | $8907 |
| &nbsp;&nbsp; Prestige Consumer Healthcare \* | 113 | 7431 |
| &nbsp;&nbsp; Privia Health Group \* | 160 | 4326 |
| &nbsp;&nbsp; PROCEPT BioRobotics \* | 80 | 3111 |
| &nbsp;&nbsp; Progyny \* | 144 | 4952 |
| &nbsp;&nbsp; Prometheus Biosciences \* | 67 | 7615 |
| &nbsp;&nbsp; Protagonist Therapeutics \* | 85 | 1130 |
| &nbsp;&nbsp; PTC Therapeutics \* | 136 | 6241 |
| &nbsp;&nbsp; Pulmonx \* | 63 | 560 |
| &nbsp;&nbsp; Quanterix \* | 65 | 918 |
| &nbsp;&nbsp; Quantum-Si \* | 180 | 400 |
| &nbsp;&nbsp; Quest Diagnostics | 264 | 39199 |
| &nbsp;&nbsp; QuidelOrtho \* | 114 | 9755 |
| &nbsp;&nbsp; R1 RCM \* | 385 | 5509 |
| &nbsp;&nbsp; RadNet \* | 97 | 2042 |
| &nbsp;&nbsp; RAPT Therapeutics \* | 44 | 1278 |
| &nbsp;&nbsp; Reata Pharmaceuticals, Cl A \* | 55 | 2383 |
| &nbsp;&nbsp; Recursion Pharmaceuticals, Cl A \* | 166 | 1383 |
| &nbsp;&nbsp; REGENXBIO \* | 77 | 1787 |
| &nbsp;&nbsp; Relay Therapeutics \* | 159 | 3412 |
| &nbsp;&nbsp; Relmada Therapeutics \* | 52 | 211 |
| &nbsp;&nbsp; Replimune Group \* | 61 | 1699 |
| &nbsp;&nbsp; ResMed | 331 | 75590 |
| &nbsp;&nbsp; Revance Therapeutics \* | 134 | 4647 |
| &nbsp;&nbsp; REVOLUTION Medicines \* | 130 | 3476 |
| &nbsp;&nbsp; Rhythm Pharmaceuticals \* | 95 | 2598 |
| &nbsp;&nbsp; Rocket Pharmaceuticals \* | 120 | 2608 |
| &nbsp;&nbsp; Royalty Pharma PLC, Cl A | 823 | 32253 |
| &nbsp;&nbsp; Sage Therapeutics \* | 100 | 4434 |
| &nbsp;&nbsp; Sangamo Therapeutics \* | 259 | 904 |
| &nbsp;&nbsp; Scholar Rock Holding \* | 75 | 908 |
| &nbsp;&nbsp; Schrodinger \* | 114 | 2757 |
| &nbsp;&nbsp; Seagen \* | 415 | 57884 |
| &nbsp;&nbsp; Seer, Cl A \* | 80 | 364 |
| &nbsp;&nbsp; Select Medical Holdings | 199 | 5785 |
| &nbsp;&nbsp; Senseonics Holdings \* | 796 | 899 |
| &nbsp;&nbsp; Seres Therapeutics \* | 182 | 996 |
| &nbsp;&nbsp; Sharecare \* | 555 | 1410 |
| &nbsp;&nbsp; Shockwave Medical \* | 80 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15034 |
| &nbsp;&nbsp; SI-BONE \* | 57 | 971 |
| &nbsp;&nbsp; SIGA Technologies \* | 80 | 586 |
| &nbsp;&nbsp; Signify Health, Cl A \* | 140 | 3984 |
| &nbsp;&nbsp; Silk Road Medical \* | 66 | 3588 |
| &nbsp;&nbsp; Simulations Plus | 31 | 1275 |
| &nbsp;&nbsp; SomaLogic \* | 246 | 856 |
| &nbsp;&nbsp; Sorrento Therapeutics \* | 868 | 832 |
| &nbsp;&nbsp; Sotera Health \* | 194 | 3345 |
| &nbsp;&nbsp; SpringWorks Therapeutics \* | 87 | 2732 |
| &nbsp;&nbsp; STAAR Surgical \* | 93 | 6561 |
| &nbsp;&nbsp; STERIS PLC | 227 | 46878 |
| &nbsp;&nbsp; Stoke Therapeutics \* | 43 | 428 |
| &nbsp;&nbsp; Supernus Pharmaceuticals \* | 101 | 4142 |
| &nbsp;&nbsp; Surmodics \* | 27 | 759 |
| &nbsp;&nbsp; Sutro Biopharma \* | 89 | 644 |
| &nbsp;&nbsp; Syndax Pharmaceuticals \* | 94 | 2698 |
| &nbsp;&nbsp; Syneos Health, Cl A \* | 234 | 8405 |

---

---

| | | |
|:---|:---|:---|
|  **COMMON STOCK — continued** | |  |
|  | <br> **Shares** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Value**  |
|  **HEALTH CARE— continued** |  |  |
| &nbsp;&nbsp; Tandem Diabetes Care \* | 125 | $5093 |
| &nbsp;&nbsp; Tango Therapeutics \* | 89 | 587 |
| &nbsp;&nbsp; Tarsus Pharmaceuticals \* | 33 | 520 |
| &nbsp;&nbsp; Teladoc Health \* | 356 | 10466 |
| &nbsp;&nbsp; Teleflex | 107 | 26046 |
| &nbsp;&nbsp; TG Therapeutics \* | 264 | 4021 |
| &nbsp;&nbsp; Theravance Biopharma \* | 114 | 1232 |
| &nbsp;&nbsp; TransMedics Group \* | 58 | 3655 |
| &nbsp;&nbsp; Travere Therapeutics \* | 118 | 2643 |
| &nbsp;&nbsp; Treace Medical Concepts \* | 63 | 1455 |
| &nbsp;&nbsp; Tricida \* | 47 | 2 |
| &nbsp;&nbsp; Twist Bioscience \* | 107 | 3070 |
| &nbsp;&nbsp; UFP Technologies \* | 13 | 1478 |
| &nbsp;&nbsp; Ultragenyx Pharmaceutical \* | 128 | 5802 |
| &nbsp;&nbsp; United Therapeutics \* | 102 | 26843 |
| &nbsp;&nbsp; US Physical Therapy | 25 | 2479 |
| &nbsp;&nbsp; Vanda Pharmaceuticals \* | 106 | 814 |
| &nbsp;&nbsp; Varex Imaging \* | 78 | 1676 |
| &nbsp;&nbsp; Vaxart \* | 246 | 266 |
| &nbsp;&nbsp; Vaxcyte \* | 77 | 3492 |
| &nbsp;&nbsp; Veeva Systems, Cl A \* | 319 | 54405 |
| &nbsp;&nbsp; Ventyx Biosciences \* | 48 | 2016 |
| &nbsp;&nbsp; Vera Therapeutics, Cl A \* | 24 | 204 |
| &nbsp;&nbsp; Veracyte \* | 138 | 3468 |
| &nbsp;&nbsp; Veradigm \* | 211 | 3779 |
| &nbsp;&nbsp; Verve Therapeutics \* | 71 | 1615 |
| &nbsp;&nbsp; ViewRay \* | 306 | 1405 |
| &nbsp;&nbsp; Viking Therapeutics \* | 132 | 1156 |
| &nbsp;&nbsp; Vir Biotechnology \* | 154 | 4551 |
| &nbsp;&nbsp; Viridian Therapeutics \* | 66 | 2410 |
| &nbsp;&nbsp; West Pharmaceutical Services | 167 | 44355 |
| &nbsp;&nbsp; Xencor \* | 114 | 3753 |
| &nbsp;&nbsp; Y-mAbs Therapeutics \* | 69 | 310 |
| &nbsp;&nbsp; Zentalis Pharmaceuticals \* | 99 | 2336 |
| &nbsp;&nbsp; Zimmer Biomet Holdings | 478 | 60869 |
| &nbsp;&nbsp; Zoetis, Cl A | 1067 | 176578 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4581980 |
|  **INDUSTRIALS — 8.8%** |  |  |
| &nbsp;&nbsp; 3D Systems \* | 249 | 2704 |
| &nbsp;&nbsp; 3M | 1260 | 145001 |
| &nbsp;&nbsp; AAON | 97 | 7403 |
| &nbsp;&nbsp; AAR \* | 65 | 3344 |
| &nbsp;&nbsp; ABM Industries | 128 | 6004 |
| &nbsp;&nbsp; ACCO Brands | 178 | 1130 |
| &nbsp;&nbsp; Acuity Brands | 73 | 13762 |
| &nbsp;&nbsp; ACV Auctions, Cl A \* | 217 | 2127 |
| &nbsp;&nbsp; ADT | 410 | 3604 |
| &nbsp;&nbsp; Advanced Drainage Systems | 171 | 17244 |
| &nbsp;&nbsp; AECOM | 317 | 27665 |
| &nbsp;&nbsp; AerSale \* | 29 | 540 |
| &nbsp;&nbsp; AGCO | 141 | 19476 |
| &nbsp;&nbsp; Air Lease, Cl A | 235 | 10568 |
| &nbsp;&nbsp; Air Transport Services Group \* | 114 | 3227 |
| &nbsp;&nbsp; Alamo Group | 23 | 3599 |
| &nbsp;&nbsp; Alaska Air Group \* | 288 | 14786 |

---

**28** 

------

---

| | |
|:---|:---|
| **THE ADVISORS' INNER CIRCLE FUND III** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **KNIGHTS OF COLUMBUS** <br> **U.S. ALL CAP INDEX FUND** <br> **JANUARY 31, 2023** <br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(Unaudited)**  |

---

---

| | | |
|:---|:---|:---|
|  **COMMON STOCK — continued** | |  |
|  | <br> **Shares** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Value**  |
|  **INDUSTRIALS— continued** |  |  |
| &nbsp;&nbsp; Albany International, Cl A | 71 | $7963 |
| &nbsp;&nbsp; Alight, Cl A \* | 448 | 4207 |
| &nbsp;&nbsp; Allegiant Travel, Cl A \* | 31 | 2667 |
| &nbsp;&nbsp; Allegion PLC | 199 | 23392 |
| &nbsp;&nbsp; Allied Motion Technologies | 26 | 1057 |
| &nbsp;&nbsp; Allison Transmission Holdings | 217 | 9782 |
| &nbsp;&nbsp; Altra Industrial Motion | 148 | 9038 |
| &nbsp;&nbsp; Ameresco, Cl A \* | 62 | 3997 |
| &nbsp;&nbsp; American Airlines Group \* | 1464 | 23629 |
| &nbsp;&nbsp; American Woodmark \* | 32 | 1833 |
| &nbsp;&nbsp; AMETEK | 522 | 75648 |
| &nbsp;&nbsp; AO Smith | 288 | 19498 |
| &nbsp;&nbsp; API Group \* | 495 | 11009 |
| &nbsp;&nbsp; Apogee Enterprises | 42 | 1967 |
| &nbsp;&nbsp; Applied Industrial Technologies | 86 | 12316 |
| &nbsp;&nbsp; ArcBest | 47 | 3922 |
| &nbsp;&nbsp; Archer Aviation, Cl A \* | 241 | 699 |
| &nbsp;&nbsp; Arcosa | 93 | 5512 |
| &nbsp;&nbsp; Argan | 26 | 1014 |
| &nbsp;&nbsp; Aris Water Solutions, Cl A | 48 | 744 |
| &nbsp;&nbsp; Armstrong World Industries | 105 | 8128 |
| &nbsp;&nbsp; Array Technologies \* | 326 | 7247 |
| &nbsp;&nbsp; ASGN \* | 110 | 10005 |
| &nbsp;&nbsp; Astec Industries | 44 | 1942 |
| &nbsp;&nbsp; Astronics \* | 49 | 728 |
| &nbsp;&nbsp; Atkore \* | 93 | 12113 |
| &nbsp;&nbsp; Atlas Technical Consultants \* | 51 | 619 |
| &nbsp;&nbsp; Avis Budget Group \* | 107 | 21404 |
| &nbsp;&nbsp; Axon Enterprise \* | 153 | 29902 |
| &nbsp;&nbsp; AZEK, Cl A \* | 290 | 6998 |
| &nbsp;&nbsp; AZZ | 48 | 2039 |
| &nbsp;&nbsp; Babcock & Wilcox Enterprises \* | 167 | 1109 |
| &nbsp;&nbsp; Barnes Group | 94 | 4160 |
| &nbsp;&nbsp; Barrett Business Services | 13 | 1292 |
| &nbsp;&nbsp; Beacon Roofing Supply \* | 98 | 5574 |
| &nbsp;&nbsp; Blade Air Mobility \* | 92 | 410 |
| &nbsp;&nbsp; Blink Charging \* | 80 | 1089 |
| &nbsp;&nbsp; Bloom Energy, Cl A \* | 393 | 9797 |
| &nbsp;&nbsp; BlueLinx Holdings \* | 18 | 1563 |
| &nbsp;&nbsp; Boise Cascade | 76 | 5698 |
| &nbsp;&nbsp; Brady, Cl A | 89 | 4759 |
| &nbsp;&nbsp; BrightView Holdings \* | 75 | 596 |
| &nbsp;&nbsp; Brink's | 90 | 5904 |
| &nbsp;&nbsp; Builders FirstSource \* | 350 | 27895 |
| &nbsp;&nbsp; Cadre Holdings | 31 | 710 |
| &nbsp;&nbsp; Carlisle | 117 | 29351 |
| &nbsp;&nbsp; Carrier Global | 1914 | 87144 |
| &nbsp;&nbsp; Casella Waste Systems, Cl A \* | 114 | 9134 |
| &nbsp;&nbsp; Caterpillar | 1202 | 303253 |
| &nbsp;&nbsp; CBIZ \* | 96 | 4569 |
| &nbsp;&nbsp; CECO Environmental \* | 57 | 820 |
| &nbsp;&nbsp; CH Robinson Worldwide | 280 | 28048 |
| &nbsp;&nbsp; ChargePoint Holdings \* | 348 | 4225 |
| &nbsp;&nbsp; Chart Industries \* | 84 | 11254 |
| &nbsp;&nbsp; Cintas | 197 | 87417 |
| &nbsp;&nbsp; CIRCOR International \* | 39 | 1078 |

---

---

| | | |
|:---|:---|:---|
|  **COMMON STOCK — continued** | |  |
|  | <br> **Shares** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Value**  |
|  **INDUSTRIALS— continued** |  |  |
| &nbsp;&nbsp; Clean Harbors \* | 114 | $14854 |
| &nbsp;&nbsp; Columbus McKinnon | 55 | 1977 |
| &nbsp;&nbsp; Comfort Systems USA | 80 | 9683 |
| &nbsp;&nbsp; Construction Partners, Cl A \* | 77 | 2178 |
| &nbsp;&nbsp; Copart \* | 977 | 65078 |
| &nbsp;&nbsp; Core & Main, Cl A \* | 141 | 3112 |
| &nbsp;&nbsp; CoreCivic \* | 225 | 2394 |
| &nbsp;&nbsp; CoStar Group \* | 919 | 71590 |
| &nbsp;&nbsp; Covenant Logistics Group, Cl A | 19 | 630 |
| &nbsp;&nbsp; CRA International | 14 | 1664 |
| &nbsp;&nbsp; Crane Holdings | 109 | 12634 |
| &nbsp;&nbsp; CSW Industrials | 30 | 4056 |
| &nbsp;&nbsp; CSX | 4789 | 148076 |
| &nbsp;&nbsp; Cummins | 316 | 78855 |
| &nbsp;&nbsp; Curtiss-Wright | 87 | 14425 |
| &nbsp;&nbsp; Custom Truck One Source \* | 119 | 843 |
| &nbsp;&nbsp; Daseke \* | 80 | 558 |
| &nbsp;&nbsp; Deere | 637 | 269349 |
| &nbsp;&nbsp; Delta Air Lines \* | 1458 | 57008 |
| &nbsp;&nbsp; Deluxe | 84 | 1679 |
| &nbsp;&nbsp; Desktop Metal, Cl A \* | 431 | 723 |
| &nbsp;&nbsp; Distribution Solutions Group \* | 37 | 1528 |
| &nbsp;&nbsp; Donaldson | 278 | 17333 |
| &nbsp;&nbsp; Douglas Dynamics | 44 | 1778 |
| &nbsp;&nbsp; Dover | 319 | 48434 |
| &nbsp;&nbsp; Driven Brands Holdings \* | 122 | 3561 |
| &nbsp;&nbsp; Dun & Bradstreet Holdings | 411 | 6021 |
| &nbsp;&nbsp; DXP Enterprises \* | 31 | 939 |
| &nbsp;&nbsp; Dycom Industries \* | 56 | 5341 |
| &nbsp;&nbsp; Eagle Bulk Shipping | 25 | 1432 |
| &nbsp;&nbsp; Eaton PLC | 906 | 146962 |
| &nbsp;&nbsp; EMCOR Group | 110 | 16308 |
| &nbsp;&nbsp; Emerson Electric | 1340 | 120895 |
| &nbsp;&nbsp; Encore Wire | 36 | 5811 |
| &nbsp;&nbsp; Energy Recovery \* | 98 | 2169 |
| &nbsp;&nbsp; Energy Vault Holdings \* | 112 | 475 |
| &nbsp;&nbsp; Enerpac Tool Group, Cl A | 110 | 2919 |
| &nbsp;&nbsp; EnerSys | 78 | 6476 |
| &nbsp;&nbsp; Ennis | 48 | 1019 |
| &nbsp;&nbsp; Enovix \* | 210 | 1667 |
| &nbsp;&nbsp; EnPro Industries | 40 | 4843 |
| &nbsp;&nbsp; Equifax | 278 | 61772 |
| &nbsp;&nbsp; Esab | 99 | 5723 |
| &nbsp;&nbsp; ESCO Technologies | 50 | 4922 |
| &nbsp;&nbsp; ESS Tech \* | 92 | 203 |
| &nbsp;&nbsp; Evoqua Water Technologies \* | 273 | 13243 |
| &nbsp;&nbsp; Expeditors International of Washington | 371 | 40124 |
| &nbsp;&nbsp; Exponent | 115 | 11792 |
| &nbsp;&nbsp; Fastenal | 1305 | 65968 |
| &nbsp;&nbsp; Federal Signal | 116 | 6177 |
| &nbsp;&nbsp; FedEx | 545 | 105654 |
| &nbsp;&nbsp; First Advantage \* | 100 | 1388 |
| &nbsp;&nbsp; Flowserve | 298 | 10257 |
| &nbsp;&nbsp; Fluence Energy, Cl A \* | 73 | 1762 |
| &nbsp;&nbsp; Fluor \* | 320 | 11760 |

---

**29** 

------

---

| | |
|:---|:---|
| **THE ADVISORS' INNER CIRCLE FUND III** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **KNIGHTS OF COLUMBUS** <br> **U.S. ALL CAP INDEX FUND** <br> **JANUARY 31, 2023** <br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(Unaudited)**  |

---

---

| | | |
|:---|:---|:---|
|  **COMMON STOCK — continued** | |  |
|  | <br> **Shares** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Value**  |
|  **INDUSTRIALS— continued** |  |  |
| &nbsp;&nbsp; Forrester Research \* | 22 | $815 |
| &nbsp;&nbsp; Fortune Brands Innovations | 294 | 18966 |
| &nbsp;&nbsp; Forward Air | 52 | 5608 |
| &nbsp;&nbsp; Franklin Covey \* | 23 | 1067 |
| &nbsp;&nbsp; Franklin Electric | 88 | 7946 |
| &nbsp;&nbsp; Frontier Group Holdings \* | 73 | 918 |
| &nbsp;&nbsp; FTI Consulting \* | 77 | 12283 |
| &nbsp;&nbsp; FuelCell Energy \* | 795 | 2910 |
| &nbsp;&nbsp; Gates Industrial PLC \* | 202 | 2668 |
| &nbsp;&nbsp; GATX | 79 | 9042 |
| &nbsp;&nbsp; Genco Shipping & Trading | 77 | 1397 |
| &nbsp;&nbsp; Generac Holdings \* | 143 | 17246 |
| &nbsp;&nbsp; GEO Group \* | 231 | 2657 |
| &nbsp;&nbsp; Gibraltar Industries \* | 62 | 3321 |
| &nbsp;&nbsp; Global Industrial | 14 | 368 |
| &nbsp;&nbsp; GMS \* | 83 | 4924 |
| &nbsp;&nbsp; Gorman-Rupp | 44 | 1264 |
| &nbsp;&nbsp; Graco | 381 | 26030 |
| &nbsp;&nbsp; GrafTech International | 378 | 2472 |
| &nbsp;&nbsp; Granite Construction | 86 | 3662 |
| &nbsp;&nbsp; Great Lakes Dredge & Dock \* | 126 | 867 |
| &nbsp;&nbsp; Greenbrier | 62 | 1917 |
| &nbsp;&nbsp; Griffon | 92 | 3761 |
| &nbsp;&nbsp; GXO Logistics \* | 266 | 13920 |
| &nbsp;&nbsp; H&E Equipment Services | 62 | 3155 |
| &nbsp;&nbsp; Harsco \* | 153 | 1215 |
| &nbsp;&nbsp; Hawaiian Holdings \* | 98 | 1207 |
| &nbsp;&nbsp; Hayward Holdings \* | 333 | 4492 |
| &nbsp;&nbsp; Healthcare Services Group | 144 | 1940 |
| &nbsp;&nbsp; Heartland Express | 91 | 1531 |
| &nbsp;&nbsp; HEICO | 84 | 14360 |
| &nbsp;&nbsp; Heidrick & Struggles International | 38 | 1169 |
| &nbsp;&nbsp; Heliogen \* | 272 | 173 |
| &nbsp;&nbsp; Helios Technologies | 63 | 4158 |
| &nbsp;&nbsp; Herc Holdings | 67 | 10406 |
| &nbsp;&nbsp; Heritage-Crystal Clean \* | 31 | 1153 |
| &nbsp;&nbsp; Hertz Global Holdings \* | 798 | 14380 |
| &nbsp;&nbsp; Hexcel | 191 | 13481 |
| &nbsp;&nbsp; Hillenbrand | 157 | 7357 |
| &nbsp;&nbsp; Hillman Solutions \* | 237 | 2275 |
| &nbsp;&nbsp; HireRight Holdings \* | 39 | 446 |
| &nbsp;&nbsp; HNI | 79 | 2510 |
| &nbsp;&nbsp; Honeywell International | 1536 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;320225 |
| &nbsp;&nbsp; Howmet Aerospace | 942 | 38330 |
| &nbsp;&nbsp; Hub Group, Cl A \* | 65 | 5543 |
| &nbsp;&nbsp; Hubbell, Cl B | 122 | 27927 |
| &nbsp;&nbsp; Hudson Technologies \* | 73 | 745 |
| &nbsp;&nbsp; Huron Consulting Group \* | 40 | 2722 |
| &nbsp;&nbsp; Hyliion Holdings \* | 214 | 766 |
| &nbsp;&nbsp; Hyster-Yale Materials Handling | 11 | 357 |
| &nbsp;&nbsp; IAA \* | 303 | 12644 |
| &nbsp;&nbsp; ICF International | 35 | 3577 |
| &nbsp;&nbsp; IDEX | 172 | 41225 |
| &nbsp;&nbsp; IES Holdings \* | 39 | 1553 |
| &nbsp;&nbsp; Illinois Tool Works | 705 | 166408 |

---

---

| | | |
|:---|:---|:---|
|  **COMMON STOCK — continued** | |  |
|  | <br> **Shares** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Value**  |
|  **INDUSTRIALS— continued** |  |  |
| &nbsp;&nbsp; Ingersoll Rand | 919 | $51464 |
| &nbsp;&nbsp; Insperity | 81 | 8955 |
| &nbsp;&nbsp; Insteel Industries | 36 | 1080 |
| &nbsp;&nbsp; Interface, Cl A | 112 | 1275 |
| &nbsp;&nbsp; ITT | 187 | 17127 |
| &nbsp;&nbsp; Jacobs Solutions | 288 | 35582 |
| &nbsp;&nbsp; Janus International Group \* | 146 | 1606 |
| &nbsp;&nbsp; JB Hunt Transport Services | 188 | 35541 |
| &nbsp;&nbsp; JELD-WEN Holding \* | 162 | 2049 |
| &nbsp;&nbsp; JetBlue Airways \* | 634 | 5072 |
| &nbsp;&nbsp; Joby Aviation \* | 594 | 2625 |
| &nbsp;&nbsp; John Bean Technologies | 62 | 6927 |
| &nbsp;&nbsp; Johnson Controls International PLC | 1562 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;108668 |
| &nbsp;&nbsp; Kadant | 23 | 4687 |
| &nbsp;&nbsp; KAR Auction Services \* | 223 | 3247 |
| &nbsp;&nbsp; KBR | 314 | 16086 |
| &nbsp;&nbsp; Kelly Services, Cl A | 66 | 1195 |
| &nbsp;&nbsp; Kennametal | 151 | 4304 |
| &nbsp;&nbsp; Kforce | 39 | 2189 |
| &nbsp;&nbsp; Kimball International, Cl B | 70 | 518 |
| &nbsp;&nbsp; Kirby \* | 135 | 9555 |
| &nbsp;&nbsp; Knight-Swift Transportation Holdings, Cl A | 343 | 20271 |
| &nbsp;&nbsp; Korn Ferry | 103 | 5561 |
| &nbsp;&nbsp; Landstar System | 83 | 14345 |
| &nbsp;&nbsp; Legalzoom.com \* | 154 | 1306 |
| &nbsp;&nbsp; Lennox International | 72 | 18765 |
| &nbsp;&nbsp; Lincoln Electric Holdings | 130 | 21693 |
| &nbsp;&nbsp; Lindsay | 21 | 3289 |
| &nbsp;&nbsp; Lyft, Cl A \* | 687 | 11164 |
| &nbsp;&nbsp; Manitowoc \* | 67 | 918 |
| &nbsp;&nbsp; ManpowerGroup | 117 | 10198 |
| &nbsp;&nbsp; Marten Transport | 112 | 2474 |
| &nbsp;&nbsp; Masco | 513 | 27292 |
| &nbsp;&nbsp; MasTec \* | 137 | 13458 |
| &nbsp;&nbsp; Masterbrand \* | 294 | 2705 |
| &nbsp;&nbsp; Matson | 75 | 4959 |
| &nbsp;&nbsp; Matthews International, Cl A | 58 | 2148 |
| &nbsp;&nbsp; Maxar Technologies | 141 | 7285 |
| &nbsp;&nbsp; McGrath RentCorp | 47 | 4678 |
| &nbsp;&nbsp; MDU Resources Group | 444 | 13724 |
| &nbsp;&nbsp; Microvast Holdings \* | 244 | 398 |
| &nbsp;&nbsp; Middleby \* | 116 | 18032 |
| &nbsp;&nbsp; Miller Industries | 22 | 638 |
| &nbsp;&nbsp; MillerKnoll | 147 | 3510 |
| &nbsp;&nbsp; Montrose Environmental Group \* . | 53 | 2870 |
| &nbsp;&nbsp; Moog, Cl A | 56 | 5338 |
| &nbsp;&nbsp; MRC Global \* | 160 | 2176 |
| &nbsp;&nbsp; MSA Safety | 83 | 11320 |
| &nbsp;&nbsp; MSC Industrial Direct, Cl A | 105 | 8684 |
| &nbsp;&nbsp; Mueller Industries | 126 | 8259 |
| &nbsp;&nbsp; Mueller Water Products, Cl A | 302 | 3820 |
| &nbsp;&nbsp; MYR Group \* | 32 | 3170 |
| &nbsp;&nbsp; Nikola \* | 566 | 1534 |
| &nbsp;&nbsp; Nordson | 120 | 29196 |

---

**30** 

------

---

| | |
|:---|:---|
| **THE ADVISORS' INNER CIRCLE FUND III** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **KNIGHTS OF COLUMBUS** <br> **U.S. ALL CAP INDEX FUND** <br> **JANUARY 31, 2023** <br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(Unaudited)**  |

---

---

| | | |
|:---|:---|:---|
|  **COMMON STOCK — continued** | |  |
|  | <br> **Shares** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Value**  |
|  **INDUSTRIALS— continued** |  |  |
| &nbsp;&nbsp; Norfolk Southern | 538 | $132246 |
| &nbsp;&nbsp; Northwest Pipe \* | 19 | 711 |
| &nbsp;&nbsp; NOW \* | 215 | 3019 |
| &nbsp;&nbsp; NV5 Global \* | 24 | 3199 |
| &nbsp;&nbsp; nVent Electric PLC | 372 | 14787 |
| &nbsp;&nbsp; Old Dominion Freight Line | 220 | 73313 |
| &nbsp;&nbsp; Omega Flex | 7 | 744 |
| &nbsp;&nbsp; Oshkosh | 149 | 15016 |
| &nbsp;&nbsp; Otis Worldwide | 964 | 79270 |
| &nbsp;&nbsp; Owens Corning | 217 | 20973 |
| &nbsp;&nbsp; PACCAR | 779 | 85152 |
| &nbsp;&nbsp; Parker-Hannifin | 292 | 95192 |
| &nbsp;&nbsp; Parsons \* | 235 | 10227 |
| &nbsp;&nbsp; Pentair PLC | 374 | 20712 |
| &nbsp;&nbsp; PGT Innovations \* | 112 | 2430 |
| &nbsp;&nbsp; Pitney Bowes | 337 | 1452 |
| &nbsp;&nbsp; Planet Labs PBC \* | 354 | 1752 |
| &nbsp;&nbsp; Plug Power \* | 1172 | 19947 |
| &nbsp;&nbsp; Primoris Services | 103 | 2740 |
| &nbsp;&nbsp; Proterra \* | 328 | 1673 |
| &nbsp;&nbsp; Proto Labs \* | 54 | 1652 |
| &nbsp;&nbsp; Quanex Building Products | 64 | 1657 |
| &nbsp;&nbsp; Quanta Services | 322 | 49005 |
| &nbsp;&nbsp; Radiant Logistics \* | 75 | 421 |
| &nbsp;&nbsp; RBC Bearings \* | 65 | 15858 |
| &nbsp;&nbsp; Regal Rexnord | 151 | 21019 |
| &nbsp;&nbsp; Republic Services, Cl A | 470 | 58665 |
| &nbsp;&nbsp; Resideo Technologies \* | 282 | 5423 |
| &nbsp;&nbsp; Resources Connection | 63 | 1088 |
| &nbsp;&nbsp; REV Group | 59 | 756 |
| &nbsp;&nbsp; Robert Half International | 243 | 20402 |
| &nbsp;&nbsp; Rocket Lab USA \* | 486 | 2415 |
| &nbsp;&nbsp; Rockwell Automation | 263 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;74174 |
| &nbsp;&nbsp; Rollins | 542 | 19729 |
| &nbsp;&nbsp; Rush Enterprises, Cl A | 83 | 4466 |
| &nbsp;&nbsp; RXO \* | 221 | 4049 |
| &nbsp;&nbsp; Ryder System | 114 | 10763 |
| &nbsp;&nbsp; Saia \* | 60 | 16367 |
| &nbsp;&nbsp; Schneider National, Cl B | 111 | 2942 |
| &nbsp;&nbsp; Science Applications International | 124 | 12869 |
| &nbsp;&nbsp; Sensata Technologies Holding PLC | 351 | 17848 |
| &nbsp;&nbsp; SES AI \* | 353 | 1165 |
| &nbsp;&nbsp; Shoals Technologies Group, Cl A \* | 206 | 5745 |
| &nbsp;&nbsp; Shyft Group | 63 | 2097 |
| &nbsp;&nbsp; Simpson Manufacturing | 98 | 10497 |
| &nbsp;&nbsp; SiteOne Landscape Supply \* | 101 | 15303 |
| &nbsp;&nbsp; SkyWest \* | 96 | 1993 |
| &nbsp;&nbsp; Snap-on | 120 | 29848 |
| &nbsp;&nbsp; Southwest Airlines | 1349 | 48254 |
| &nbsp;&nbsp; SP Plus \* | 44 | 1659 |
| &nbsp;&nbsp; Spirit AeroSystems Holdings,<br>Cl A \* | 205 | 7411 |
| &nbsp;&nbsp; Spirit Airlines \* | 197 | 3908 |
| &nbsp;&nbsp; SPX Technologies \* | 103 | 7726 |

---

---

| | | |
|:---|:---|:---|
|  **COMMON STOCK — continued** | |  |
|  | <br> **Shares** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Value**  |
|  **INDUSTRIALS— continued** |  |  |
| &nbsp;&nbsp; Standex International | 23 | $2658 |
| &nbsp;&nbsp; Stanley Black & Decker | 335 | 29919 |
| &nbsp;&nbsp; Steelcase, Cl A | 168 | 1310 |
| &nbsp;&nbsp; Stem \* | 258 | 2544 |
| &nbsp;&nbsp; Stericycle \* | 209 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11246 |
| &nbsp;&nbsp; Sterling Check \* | 162 | 2260 |
| &nbsp;&nbsp; Sterling Infrastructure \* | 57 | 2074 |
| &nbsp;&nbsp; Sun Country Airlines Holdings \* | 65 | 1214 |
| &nbsp;&nbsp; SunPower, Cl A \* | 166 | 2893 |
| &nbsp;&nbsp; Sunrun \* | 470 | 12352 |
| &nbsp;&nbsp; Tennant | 36 | 2525 |
| &nbsp;&nbsp; Terex | 129 | 6575 |
| &nbsp;&nbsp; Tetra Tech | 121 | 18818 |
| &nbsp;&nbsp; Textron | 480 | 34968 |
| &nbsp;&nbsp; Thermon Group Holdings \* | 64 | 1480 |
| &nbsp;&nbsp; Timken | 148 | 12188 |
| &nbsp;&nbsp; Titan International \* | 100 | 1669 |
| &nbsp;&nbsp; Titan Machinery \* | 39 | 1714 |
| &nbsp;&nbsp; Toro | 237 | 26430 |
| &nbsp;&nbsp; TPI Composites \* | 71 | 927 |
| &nbsp;&nbsp; Trane Technologies PLC | 527 | 94396 |
| &nbsp;&nbsp; Transcat \* | 14 | 1169 |
| &nbsp;&nbsp; TransDigm Group \* | 120 | 86130 |
| &nbsp;&nbsp; TransUnion | 437 | 31355 |
| &nbsp;&nbsp; Trex \* | 250 | 13180 |
| &nbsp;&nbsp; TriNet Group \* | 133 | 10035 |
| &nbsp;&nbsp; Trinity Industries | 159 | 4574 |
| &nbsp;&nbsp; Triumph Group \* | 125 | 1424 |
| &nbsp;&nbsp; TrueBlue \* | 62 | 1217 |
| &nbsp;&nbsp; TuSimple Holdings, Cl A \* | 232 | 487 |
| &nbsp;&nbsp; Tutor Perini \* | 82 | 752 |
| &nbsp;&nbsp; Uber Technologies \* | 4271 | 132102 |
| &nbsp;&nbsp; UFP Industries | 136 | 12723 |
| &nbsp;&nbsp; U-Haul Holding \* | 17 | 1140 |
| &nbsp;&nbsp; U-Haul Holding, Cl B | 178 | 10999 |
| &nbsp;&nbsp; UniFirst | 29 | 5755 |
| &nbsp;&nbsp; Union Pacific | 1422 | 290358 |
| &nbsp;&nbsp; United Airlines Holdings \* | 743 | 36377 |
| &nbsp;&nbsp; United Parcel Service, Cl B | 1670 | 309334 |
| &nbsp;&nbsp; United Rentals | 159 | 70111 |
| &nbsp;&nbsp; Univar Solutions \* | 377 | 12999 |
| &nbsp;&nbsp; Upwork \* | 223 | 2890 |
| &nbsp;&nbsp; Valmont Industries | 48 | 15827 |
| &nbsp;&nbsp; Velo3D \* | 167 | 401 |
| &nbsp;&nbsp; Verisk Analytics, Cl A | 355 | 64535 |
| &nbsp;&nbsp; Veritiv | 26 | 3251 |
| &nbsp;&nbsp; Vertiv Holdings, Cl A | 700 | 9954 |
| &nbsp;&nbsp; Viad \* | 39 | 1152 |
| &nbsp;&nbsp; Vicor \* | 44 | 3055 |
| &nbsp;&nbsp; Virgin Galactic Holdings \* | 386 | 2131 |
| &nbsp;&nbsp; VSE | 21 | 1153 |
| &nbsp;&nbsp; Wabash National | 93 | 2396 |
| &nbsp;&nbsp; Waste Management | 903 | 139721 |
| &nbsp;&nbsp; Watsco | 76 | 21840 |
| &nbsp;&nbsp; Watts Water Technologies, Cl A | 62 | 10138 |
| &nbsp;&nbsp; Werner Enterprises | 107 | 5026 |

---

**31** 

------

---

| | |
|:---|:---|
| **THE ADVISORS' INNER CIRCLE FUND III** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **KNIGHTS OF COLUMBUS** <br> **U.S. ALL CAP INDEX FUND** <br> **JANUARY 31, 2023** <br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(Unaudited)**  |

---

---

| | | |
|:---|:---|:---|
|  **COMMON STOCK — continued** | |  |
|  | <br> **Shares** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Value**  |
|  **INDUSTRIALS— continued** |  |  |
| &nbsp;&nbsp; WESCO International \* | 100 | $14901 |
| &nbsp;&nbsp; Westinghouse Air Brake Technologies | 399 | 41420 |
| &nbsp;&nbsp; Wheels Up Experience \* | 322 | 396 |
| &nbsp;&nbsp; WillScot Mobile Mini Holdings, Cl A \* | 476 | 23067 |
| &nbsp;&nbsp; Woodward | 129 | 13192 |
| &nbsp;&nbsp; WW Grainger | 103 | 60716 |
| &nbsp;&nbsp; XPO \* | 257 | 10244 |
| &nbsp;&nbsp; Xylem | 409 | 42540 |
| &nbsp;&nbsp; Zurn Elkay Water Solutions | 335 | 7323 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7057842 |
|  **INFORMATION TECHNOLOGY — 28.8%** | **INFORMATION TECHNOLOGY — 28.8%** |  |
| &nbsp;&nbsp; 8x8 \* | 223 | 1050 |
| &nbsp;&nbsp; 908 Devices \* | 44 | 410 |
| &nbsp;&nbsp; A10 Networks | 136 | 2105 |
| &nbsp;&nbsp; Accenture PLC, Cl A | 1514 | 422482 |
| &nbsp;&nbsp; ACI Worldwide \* | 220 | 6145 |
| &nbsp;&nbsp; ACM Research, Cl A \* | 87 | 1087 |
| &nbsp;&nbsp; Adeia | 199 | 2179 |
| &nbsp;&nbsp; Adobe \* | 1053 | 389968 |
| &nbsp;&nbsp; ADTRAN Holdings | 136 | 2566 |
| &nbsp;&nbsp; Advanced Energy Industries | 84 | 7790 |
| &nbsp;&nbsp; Advanced Micro Devices \* | 3656 | 274715 |
| &nbsp;&nbsp; Aeva Technologies \* | 210 | 355 |
| &nbsp;&nbsp; Affirm Holdings, Cl A \* | 387 | 6266 |
| &nbsp;&nbsp; Agilysys \* | 47 | 3927 |
| &nbsp;&nbsp; Akamai Technologies \* | 357 | 31755 |
| &nbsp;&nbsp; Alarm.com Holdings \* | 92 | 4931 |
| &nbsp;&nbsp; Alkami Technology \* | 67 | 1097 |
| &nbsp;&nbsp; Alpha & Omega Semiconductor \* . | 43 | 1417 |
| &nbsp;&nbsp; Altair Engineering, Cl A \* | 101 | 5363 |
| &nbsp;&nbsp; Alteryx, Cl A \* | 114 | 6326 |
| &nbsp;&nbsp; Ambarella \* | 71 | 6379 |
| &nbsp;&nbsp; Amdocs | 280 | 25740 |
| &nbsp;&nbsp; American Software, Cl A | 62 | 943 |
| &nbsp;&nbsp; Amkor Technology | 109 | 3189 |
| &nbsp;&nbsp; Amphenol, Cl A | 1349 | 107610 |
| &nbsp;&nbsp; Amplitude, Cl A \* | 87 | 1251 |
| &nbsp;&nbsp; Analog Devices | 1170 | 200620 |
| &nbsp;&nbsp; ANSYS \* | 198 | 52739 |
| &nbsp;&nbsp; Appfolio, Cl A \* | 35 | 3932 |
| &nbsp;&nbsp; Appian, Cl A \* | 78 | 3226 |
| &nbsp;&nbsp; Apple | 36645 | 5287507 |
| &nbsp;&nbsp; Applied Materials | 1956 | 218074 |
| &nbsp;&nbsp; AppLovin, Cl A \* | 201 | 2553 |
| &nbsp;&nbsp; Arista Networks \* | 534 | 67295 |
| &nbsp;&nbsp; Arlo Technologies \* | 163 | 611 |
| &nbsp;&nbsp; Arrow Electronics \* | 145 | 17036 |
| &nbsp;&nbsp; Asana, Cl A \* | 110 | 1705 |
| &nbsp;&nbsp; Aspen Technology \* | 65 | 12863 |
| &nbsp;&nbsp; Atlassian, Cl A \* | 330 | 53335 |
| &nbsp;&nbsp; Autodesk \* | 491 | 105644 |
| &nbsp;&nbsp; Automatic Data Processing | 943 | 212939 |
| &nbsp;&nbsp; AvePoint \* | 202 | 903 |

---

---

| | | |
|:---|:---|:---|
|  **COMMON STOCK — continued** | |  |
|  | <br> **Shares** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Value**  |
|  **INFORMATION TECHNOLOGY— continued** | **INFORMATION TECHNOLOGY— continued** | **INFORMATION TECHNOLOGY— continued** |
| &nbsp;&nbsp; Aviat Networks \* | 21 | $679 |
| &nbsp;&nbsp; Avid Technology \* | 80 | 2425 |
| &nbsp;&nbsp; AvidXchange Holdings \* | 248 | 2758 |
| &nbsp;&nbsp; Avnet | 210 | 9635 |
| &nbsp;&nbsp; Axcelis Technologies \* | 63 | 6927 |
| &nbsp;&nbsp; Badger Meter | 66 | 7649 |
| &nbsp;&nbsp; Bel Fuse, Cl B | 20 | 789 |
| &nbsp;&nbsp; Belden | 98 | 7947 |
| &nbsp;&nbsp; Benchmark Electronics | 67 | 1875 |
| &nbsp;&nbsp; Bentley Systems, Cl B | 451 | 17612 |
| &nbsp;&nbsp; BigCommerce Holdings \* | 118 | 1447 |
| &nbsp;&nbsp; Bill.com Holdings \* | 226 | 26130 |
| &nbsp;&nbsp; Black Knight \* | 344 | 20843 |
| &nbsp;&nbsp; Blackbaud \* | 80 | 4977 |
| &nbsp;&nbsp; Blackline \* | 112 | 8042 |
| &nbsp;&nbsp; Blend Labs, Cl A \* | 284 | 471 |
| &nbsp;&nbsp; Block, Cl A \* | 1198 | 97901 |
| &nbsp;&nbsp; Box, Cl A \* | 312 | 9981 |
| &nbsp;&nbsp; Braze, Cl A \* | 75 | 2400 |
| &nbsp;&nbsp; Brightcove \* | 78 | 495 |
| &nbsp;&nbsp; Broadcom | 929 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;543474 |
| &nbsp;&nbsp; Broadridge Financial Solutions | 266 | 39996 |
| &nbsp;&nbsp; C3.ai, Cl A \* | 159 | 3156 |
| &nbsp;&nbsp; Cadence Design Systems \* | 617 | 112806 |
| &nbsp;&nbsp; Calix \* | 130 | 6843 |
| &nbsp;&nbsp; Cass Information Systems | 24 | 1165 |
| &nbsp;&nbsp; CCC Intelligent Solutions Holdings \* | 217 | 2007 |
| &nbsp;&nbsp; CDW | 308 | 60377 |
| &nbsp;&nbsp; Cerence \* | 76 | 1864 |
| &nbsp;&nbsp; Ceridian HCM Holding \* | 331 | 23925 |
| &nbsp;&nbsp; CEVA \* | 44 | 1457 |
| &nbsp;&nbsp; Ciena \* | 334 | 17375 |
| &nbsp;&nbsp; Cirrus Logic \* | 127 | 11479 |
| &nbsp;&nbsp; Cisco Systems | 9358 | 455454 |
| &nbsp;&nbsp; Clear Secure, Cl A \* | 121 | 3798 |
| &nbsp;&nbsp; Clearfield \* | 23 | 1644 |
| &nbsp;&nbsp; Clearwater Analytics Holdings,<br>Cl A \* | 101 | 1978 |
| &nbsp;&nbsp; Cloudflare, Cl A \* | 634 | 33545 |
| &nbsp;&nbsp; Cognex | 383 | 20965 |
| &nbsp;&nbsp; Cognizant Technology Solutions, Cl A | 1180 | 78765 |
| &nbsp;&nbsp; Coherent \* | 310 | 13460 |
| &nbsp;&nbsp; Cohu \* | 93 | 3355 |
| &nbsp;&nbsp; CommScope Holding \* | 396 | 3326 |
| &nbsp;&nbsp; CommVault Systems \* | 86 | 5352 |
| &nbsp;&nbsp; Comtech Telecommunications | 52 | 825 |
| &nbsp;&nbsp; Concentrix | 98 | 13897 |
| &nbsp;&nbsp; Conduent \* | 385 | 1836 |
| &nbsp;&nbsp; Confluent, Cl A \* | 260 | 6006 |
| &nbsp;&nbsp; Consensus Cloud Solutions \* | 36 | 2116 |
| &nbsp;&nbsp; Corsair Gaming \* | 75 | 1180 |
| &nbsp;&nbsp; Couchbase \* | 48 | 710 |
| &nbsp;&nbsp; Coupa Software \* | 172 | 13746 |

---

**32** 

------

---

| | |
|:---|:---|
| **THE ADVISORS' INNER CIRCLE FUND III** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **KNIGHTS OF COLUMBUS** <br> **U.S. ALL CAP INDEX FUND** <br> **JANUARY 31, 2023** <br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(Unaudited)**  |

---

---

| | | |
|:---|:---|:---|
|  **COMMON STOCK — continued** | |  |
|  | <br> **Shares** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Value**  |
|  **INFORMATION TECHNOLOGY— continued** | **INFORMATION TECHNOLOGY— continued** | **INFORMATION TECHNOLOGY— continued** |
| &nbsp;&nbsp; Credo Technology Group Holding \* | 171 | $2963 |
| &nbsp;&nbsp; Crowdstrike Holdings, Cl A \* | 481 | 50938 |
| &nbsp;&nbsp; CS Disco \* | 30 | 249 |
| &nbsp;&nbsp; CSG Systems International | 61 | 3640 |
| &nbsp;&nbsp; CTS | 61 | 2715 |
| &nbsp;&nbsp; Cvent Holding, Cl A \* | 77 | 621 |
| &nbsp;&nbsp; Datadog, Cl A \* | 584 | 43689 |
| &nbsp;&nbsp; Dell Technologies, Cl C | 572 | 23235 |
| &nbsp;&nbsp; Diebold Nixdorf \* | 143 | 342 |
| &nbsp;&nbsp; Digi International \* | 67 | 2277 |
| &nbsp;&nbsp; Digimarc \* | 27 | 539 |
| &nbsp;&nbsp; Digital Turbine \* | 166 | 2882 |
| &nbsp;&nbsp; DigitalOcean Holdings \* | 125 | 3669 |
| &nbsp;&nbsp; Diodes \* | 100 | 8919 |
| &nbsp;&nbsp; DocuSign, Cl A \* | 451 | 27349 |
| &nbsp;&nbsp; Dolby Laboratories, Cl A | 140 | 11138 |
| &nbsp;&nbsp; Domo, Cl B \* | 58 | 900 |
| &nbsp;&nbsp; DoubleVerify Holdings \* | 130 | 3535 |
| &nbsp;&nbsp; Dropbox, Cl A \* | 598 | 13892 |
| &nbsp;&nbsp; Duck Creek Technologies \* | 148 | 2802 |
| &nbsp;&nbsp; DXC Technology \* | 519 | 14911 |
| &nbsp;&nbsp; Dynatrace \* | 438 | 16832 |
| &nbsp;&nbsp; DZS \* | 35 | 444 |
| &nbsp;&nbsp; E2open Parent Holdings \* | 406 | 2801 |
| &nbsp;&nbsp; Eastman Kodak \* | 116 | 419 |
| &nbsp;&nbsp; Ebix | 48 | 915 |
| &nbsp;&nbsp; Edgio \* | 256 | 402 |
| &nbsp;&nbsp; Elastic \* | 173 | 10179 |
| &nbsp;&nbsp; EngageSmart \* | 37 | 729 |
| &nbsp;&nbsp; Enphase Energy \* | 301 | 66635 |
| &nbsp;&nbsp; Entegris | 338 | 27242 |
| &nbsp;&nbsp; Envestnet \* | 120 | 7800 |
| &nbsp;&nbsp; EPAM Systems \* | 127 | 42247 |
| &nbsp;&nbsp; ePlus \* | 52 | 2589 |
| &nbsp;&nbsp; Euronet Worldwide \* | 107 | 12057 |
| &nbsp;&nbsp; Everbridge \* | 75 | 2397 |
| &nbsp;&nbsp; EverCommerce \* | 54 | 558 |
| &nbsp;&nbsp; Evo Payments, Cl A \* | 93 | 3150 |
| &nbsp;&nbsp; ExlService Holdings \* | 73 | 12454 |
| &nbsp;&nbsp; Expensify, Cl A \* | 74 | 770 |
| &nbsp;&nbsp; Extreme Networks \* | 251 | 4526 |
| &nbsp;&nbsp; F5 \* | 135 | 19934 |
| &nbsp;&nbsp; Fair Isaac \* | 56 | 37293 |
| &nbsp;&nbsp; FARO Technologies \* | 37 | 1017 |
| &nbsp;&nbsp; Fastly, Cl A \* | 213 | 2205 |
| &nbsp;&nbsp; Fidelity National Information Services | 1376 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;103255 |
| &nbsp;&nbsp; First Solar \* | 230 | 40848 |
| &nbsp;&nbsp; Fiserv \* | 1379 | 147112 |
| &nbsp;&nbsp; Five9 \* | 157 | 12368 |
| &nbsp;&nbsp; FleetCor Technologies \* | 166 | 34662 |
| &nbsp;&nbsp; Flywire \* | 156 | 4207 |
| &nbsp;&nbsp; FormFactor \* | 150 | 4221 |
| &nbsp;&nbsp; Fortinet \* | 1493 | 78144 |
| &nbsp;&nbsp; Freshworks, Cl A \* | 262 | 4239 |

---

---

| | | |
|:---|:---|:---|
|  **COMMON STOCK — continued** | |  |
|  | <br> **Shares** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Value**  |
|  **INFORMATION TECHNOLOGY— continued** | **INFORMATION TECHNOLOGY— continued** | **INFORMATION TECHNOLOGY— continued** |
| &nbsp;&nbsp; Gartner \* | 163 | $55117 |
| &nbsp;&nbsp; Gen Digital | 1384 | 31846 |
| &nbsp;&nbsp; Genpact | 385 | 18203 |
| &nbsp;&nbsp; Gitlab, Cl A \* | 160 | 7906 |
| &nbsp;&nbsp; Global Payments | 626 | 70563 |
| &nbsp;&nbsp; GLOBALFOUNDRIES \* | 156 | 9248 |
| &nbsp;&nbsp; GoDaddy, Cl A \* | 356 | 29238 |
| &nbsp;&nbsp; Grid Dynamics Holdings \* | 95 | 1189 |
| &nbsp;&nbsp; Guidewire Software \* | 191 | 13989 |
| &nbsp;&nbsp; Hackett Group | 50 | 1105 |
| &nbsp;&nbsp; Harmonic \* | 202 | 2660 |
| &nbsp;&nbsp; Hewlett Packard Enterprise | 2928 | 47229 |
| &nbsp;&nbsp; HP | 2292 | 66789 |
| &nbsp;&nbsp; HubSpot \* | 105 | 36436 |
| &nbsp;&nbsp; I3 Verticals, Cl A \* | 43 | 1244 |
| &nbsp;&nbsp; Ichor Holdings \* | 55 | 1859 |
| &nbsp;&nbsp; Identiv \* | 42 | 366 |
| &nbsp;&nbsp; Impinj \* | 48 | 6229 |
| &nbsp;&nbsp; Infinera \* | 416 | 3045 |
| &nbsp;&nbsp; Informatica, Cl A \* | 216 | 3845 |
| &nbsp;&nbsp; Insight Enterprises \* | 79 | 8905 |
| &nbsp;&nbsp; Instructure Holdings \* | 27 | 730 |
| &nbsp;&nbsp; Intapp \* | 74 | 2145 |
| &nbsp;&nbsp; Intel | 9366 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;264683 |
| &nbsp;&nbsp; InterDigital | 56 | 3917 |
| &nbsp;&nbsp; International Business Machines . | 2059 | 277409 |
| &nbsp;&nbsp; International Money Express \* | 66 | 1502 |
| &nbsp;&nbsp; Intuit | 626 | 264591 |
| &nbsp;&nbsp; IonQ \* | 249 | 1106 |
| &nbsp;&nbsp; IPG Photonics \* | 63 | 7062 |
| &nbsp;&nbsp; Itron \* | 88 | 5057 |
| &nbsp;&nbsp; Jabil | 301 | 23668 |
| &nbsp;&nbsp; Jack Henry & Associates | 165 | 29715 |
| &nbsp;&nbsp; Jamf Holding \* | 83 | 1649 |
| &nbsp;&nbsp; Juniper Networks | 727 | 23482 |
| &nbsp;&nbsp; Keysight Technologies \* | 405 | 72637 |
| &nbsp;&nbsp; Kimball Electronics \* | 46 | 1174 |
| &nbsp;&nbsp; KLA | 323 | 126771 |
| &nbsp;&nbsp; KnowBe4 \* | 149 | 3709 |
| &nbsp;&nbsp; Knowles \* | 177 | 3404 |
| &nbsp;&nbsp; Kyndryl Holdings \* | 396 | 5302 |
| &nbsp;&nbsp; Lam Research | 310 | 155031 |
| &nbsp;&nbsp; Lattice Semiconductor \* | 309 | 23419 |
| &nbsp;&nbsp; Lightwave Logic \* | 219 | 1378 |
| &nbsp;&nbsp; Littelfuse | 56 | 14375 |
| &nbsp;&nbsp; LivePerson \* | 137 | 1765 |
| &nbsp;&nbsp; LiveRamp Holdings \* | 128 | 3425 |
| &nbsp;&nbsp; Lumentum Holdings \* | 150 | 9027 |
| &nbsp;&nbsp; MACOM Technology Solutions Holdings \* | 117 | 7841 |
| &nbsp;&nbsp; Manhattan Associates \* | 141 | 18381 |
| &nbsp;&nbsp; Marathon Digital Holdings \* | 218 | 1572 |
| &nbsp;&nbsp; Marqeta, Cl A \* | 772 | 5118 |
| &nbsp;&nbsp; Marvell Technology | 1936 | 83538 |
| &nbsp;&nbsp; Mastercard, Cl A | 1950 | 722670 |
| &nbsp;&nbsp; Matterport \* | 448 | 1577 |

---

**33** 

------

---

| | |
|:---|:---|
| **THE ADVISORS' INNER CIRCLE FUND III** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **KNIGHTS OF COLUMBUS** <br> **U.S. ALL CAP INDEX FUND** <br> **JANUARY 31, 2023** <br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(Unaudited)**  |

---

---

| | | |
|:---|:---|:---|
|  **COMMON STOCK — continued** | **COMMON STOCK — continued** | **COMMON STOCK — continued** |
|  | **Shares** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Value**  |
|  **INFORMATION TECHNOLOGY— continued** | **INFORMATION TECHNOLOGY— continued** | **INFORMATION TECHNOLOGY— continued** |
| &nbsp;&nbsp; Maximus | 136 | $10180 |
| &nbsp;&nbsp; MaxLinear, Cl A \* | 141 | 5809 |
| &nbsp;&nbsp; MeridianLink \* | 43 | 683 |
| &nbsp;&nbsp; Methode Electronics | 68 | 3246 |
| &nbsp;&nbsp; Microchip Technology | 1235 | 95861 |
| &nbsp;&nbsp; Micron Technology | 2472 | 149062 |
| &nbsp;&nbsp; Microsoft | 16761 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4153543 |
| &nbsp;&nbsp; MicroStrategy, Cl A \* | 18 | 4531 |
| &nbsp;&nbsp; MicroVision \* | 322 | 808 |
| &nbsp;&nbsp; Mirion Technologies \* | 341 | 2711 |
| &nbsp;&nbsp; Mitek Systems \* | 84 | 828 |
| &nbsp;&nbsp; MKS Instruments | 131 | 13404 |
| &nbsp;&nbsp; Model N \* | 69 | 2737 |
| &nbsp;&nbsp; Momentive Global \* | 248 | 1912 |
| &nbsp;&nbsp; MoneyGram International \* | 171 | 1842 |
| &nbsp;&nbsp; MongoDB, Cl A \* | 150 | 32132 |
| &nbsp;&nbsp; Monolithic Power Systems | 101 | 43083 |
| &nbsp;&nbsp; Motorola Solutions | 379 | 97407 |
| &nbsp;&nbsp; N-Able \* | 109 | 1119 |
| &nbsp;&nbsp; Napco Security Technologies \* | 57 | 1651 |
| &nbsp;&nbsp; National Instruments | 300 | 16200 |
| &nbsp;&nbsp; Navitas Semiconductor \* | 130 | 645 |
| &nbsp;&nbsp; nCino \* | 132 | 3775 |
| &nbsp;&nbsp; NCR \* | 299 | 8199 |
| &nbsp;&nbsp; NetApp | 494 | 32718 |
| &nbsp;&nbsp; NETGEAR \* | 54 | 1078 |
| &nbsp;&nbsp; NetScout Systems \* | 135 | 4334 |
| &nbsp;&nbsp; New Relic \* | 138 | 8425 |
| &nbsp;&nbsp; nLight \* | 84 | 1042 |
| &nbsp;&nbsp; Nutanix, Cl A \* | 521 | 14520 |
| &nbsp;&nbsp; NVE | 9 | 656 |
| &nbsp;&nbsp; NVIDIA | 5451 | 1064962 |
| &nbsp;&nbsp; Okta, Cl A \* | 336 | 24733 |
| &nbsp;&nbsp; Olo, Cl A \* | 193 | 1548 |
| &nbsp;&nbsp; ON Semiconductor \* | 981 | 72054 |
| &nbsp;&nbsp; ON24 \* | 69 | 640 |
| &nbsp;&nbsp; OneSpan \* | 68 | 939 |
| &nbsp;&nbsp; Onto Innovation \* | 112 | 8809 |
| &nbsp;&nbsp; Oracle | 3521 | 311468 |
| &nbsp;&nbsp; OSI Systems \* | 30 | 2841 |
| &nbsp;&nbsp; PagerDuty \* | 157 | 4677 |
| &nbsp;&nbsp; Palantir Technologies, Cl A \* | 3907 | 30396 |
| &nbsp;&nbsp; Palo Alto Networks \* | 667 | 105813 |
| &nbsp;&nbsp; PAR Technology \* | 51 | 1733 |
| &nbsp;&nbsp; Paya Holdings \* | 169 | 1643 |
| &nbsp;&nbsp; Paychex | 735 | 85157 |
| &nbsp;&nbsp; Paycom Software \* | 116 | 37577 |
| &nbsp;&nbsp; Paycor HCM \* | 107 | 2687 |
| &nbsp;&nbsp; Paylocity Holding \* | 92 | 19163 |
| &nbsp;&nbsp; Payoneer Global \* | 415 | 2473 |
| &nbsp;&nbsp; PayPal Holdings \* | 2620 | 213504 |
| &nbsp;&nbsp; Paysafe \* | 64 | 1347 |
| &nbsp;&nbsp; PC Connection \* | 8 | 392 |
| &nbsp;&nbsp; PDF Solutions \* | 58 | 1843 |
| &nbsp;&nbsp; Pegasystems | 76 | 2955 |
| &nbsp;&nbsp; Perficient \* | 66 | 4893 |

---

---

| | | |
|:---|:---|:---|
|  **COMMON STOCK — continued** | |  |
|  | <br> **Shares** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Value**  |
|  **INFORMATION TECHNOLOGY— continued** | **INFORMATION TECHNOLOGY— continued** | **INFORMATION TECHNOLOGY— continued** |
| &nbsp;&nbsp; Photronics \* | 117 | $2120 |
| &nbsp;&nbsp; Plexus \* | 53 | 5087 |
| &nbsp;&nbsp; Power Integrations | 128 | 11020 |
| &nbsp;&nbsp; PowerSchool Holdings, Cl A \* | 85 | 1914 |
| &nbsp;&nbsp; Procore Technologies \* | 257 | 14379 |
| &nbsp;&nbsp; Progress Software | 83 | 4402 |
| &nbsp;&nbsp; PROS Holdings \* | 80 | 2016 |
| &nbsp;&nbsp; PTC \* | 244 | 32911 |
| &nbsp;&nbsp; Pure Storage, Cl A \* | 637 | 18435 |
| &nbsp;&nbsp; Q2 Holdings \* | 107 | 3501 |
| &nbsp;&nbsp; Qorvo \* | 234 | 25426 |
| &nbsp;&nbsp; QUALCOMM | 2558 | 340751 |
| &nbsp;&nbsp; Qualys \* | 78 | 8998 |
| &nbsp;&nbsp; Rackspace Technology \* | 97 | 291 |
| &nbsp;&nbsp; Rambus \* | 250 | 10118 |
| &nbsp;&nbsp; Rapid7 \* | 112 | 4465 |
| &nbsp;&nbsp; Remitly Global \* | 168 | 2026 |
| &nbsp;&nbsp; Repay Holdings, Cl A \* | 152 | 1480 |
| &nbsp;&nbsp; Rimini Street \* | 90 | 405 |
| &nbsp;&nbsp; RingCentral, Cl A \* | 191 | 7455 |
| &nbsp;&nbsp; Riot Platforms \* | 298 | 1868 |
| &nbsp;&nbsp; Rogers \* | 36 | 5025 |
| &nbsp;&nbsp; Roper Technologies | 241 | 102847 |
| &nbsp;&nbsp; Sabre \* | 592 | 4032 |
| &nbsp;&nbsp; Salesforce \* | 2202 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;369870 |
| &nbsp;&nbsp; Samsara, Cl A \* | 160 | 2182 |
| &nbsp;&nbsp; Sanmina \* | 128 | 7799 |
| &nbsp;&nbsp; ScanSource \* | 48 | 1581 |
| &nbsp;&nbsp; Seagate Technology Holdings PLC | 470 | 31857 |
| &nbsp;&nbsp; SEMrush Holdings, Cl A \* | 55 | 537 |
| &nbsp;&nbsp; Semtech \* | 123 | 4063 |
| &nbsp;&nbsp; SentinelOne, Cl A \* | 372 | 5613 |
| &nbsp;&nbsp; ServiceNow \* | 458 | 208450 |
| &nbsp;&nbsp; Shift4 Payments, Cl A \* | 98 | 6276 |
| &nbsp;&nbsp; ShotSpotter \* | 17 | 655 |
| &nbsp;&nbsp; Silicon Laboratories \* | 77 | 12082 |
| &nbsp;&nbsp; SiTime \* | 31 | 3572 |
| &nbsp;&nbsp; Skyworks Solutions | 365 | 40029 |
| &nbsp;&nbsp; SMART Global Holdings \* | 90 | 1547 |
| &nbsp;&nbsp; SmartRent, Cl A \* | 258 | 753 |
| &nbsp;&nbsp; Smartsheet, Cl A \* | 283 | 12228 |
| &nbsp;&nbsp; Snowflake, Cl A \* | 627 | 98088 |
| &nbsp;&nbsp; SolarWinds \* | 71 | 721 |
| &nbsp;&nbsp; Splunk \* | 338 | 32370 |
| &nbsp;&nbsp; Sprinklr, Cl A \* | 140 | 1392 |
| &nbsp;&nbsp; Sprout Social, Cl A \* | 89 | 5693 |
| &nbsp;&nbsp; SPS Commerce \* | 81 | 11022 |
| &nbsp;&nbsp; Squarespace \* | 67 | 1589 |
| &nbsp;&nbsp; SS&C Technologies Holdings | 509 | 30718 |
| &nbsp;&nbsp; Sumo Logic \* | 159 | 1881 |
| &nbsp;&nbsp; Super Micro Computer \* | 103 | 7450 |
| &nbsp;&nbsp; Synaptics \* | 90 | 11253 |
| &nbsp;&nbsp; Synopsys \* | 347 | 122751 |
| &nbsp;&nbsp; TD SYNNEX | 97 | 9909 |
| &nbsp;&nbsp; Teledyne Technologies \* | 106 | 44972 |
| &nbsp;&nbsp; Telos \* | 92 | 446 |

---

**34** 

------

---

| | |
|:---|:---|
| **THE ADVISORS' INNER CIRCLE FUND III** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **KNIGHTS OF COLUMBUS** <br> **U.S. ALL CAP INDEX FUND** <br> **JANUARY 31, 2023** <br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(Unaudited)**  |

---

---

| | | |
|:---|:---|:---|
|  **COMMON STOCK — continued** | |  |
|  | <br> **Shares** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Value**  |
|  **INFORMATION TECHNOLOGY— continued** | **INFORMATION TECHNOLOGY— continued** | **INFORMATION TECHNOLOGY— continued** |
| &nbsp;&nbsp; Tenable Holdings \* | 242 | $9736 |
| &nbsp;&nbsp; Teradata \* | 230 | 8022 |
| &nbsp;&nbsp; Teradyne | 357 | 36307 |
| &nbsp;&nbsp; Texas Instruments | 2083 | 369128 |
| &nbsp;&nbsp; Thoughtworks Holding \* | 168 | 1814 |
| &nbsp;&nbsp; Toast, Cl A \* | 603 | 13453 |
| &nbsp;&nbsp; Trimble \* | 563 | 32688 |
| &nbsp;&nbsp; TTEC Holdings | 37 | 1881 |
| &nbsp;&nbsp; TTM Technologies \* | 185 | 2908 |
| &nbsp;&nbsp; Twilio, Cl A \* | 391 | 23397 |
| &nbsp;&nbsp; Tyler Technologies \* | 94 | 30340 |
| &nbsp;&nbsp; Ubiquiti | 8 | 2337 |
| &nbsp;&nbsp; UiPath, Cl A \* | 720 | 11059 |
| &nbsp;&nbsp; Ultra Clean Holdings \* | 87 | 2928 |
| &nbsp;&nbsp; Unisys \* | 129 | 698 |
| &nbsp;&nbsp; Unity Software \* | 434 | 15416 |
| &nbsp;&nbsp; Universal Display | 99 | 13120 |
| &nbsp;&nbsp; Varonis Systems, Cl B \* | 209 | 5401 |
| &nbsp;&nbsp; Veeco Instruments \* | 99 | 1966 |
| &nbsp;&nbsp; Verint Systems \* | 125 | 4746 |
| &nbsp;&nbsp; VeriSign \* | 242 | 52768 |
| &nbsp;&nbsp; Verra Mobility, Cl A \* | 289 | 4459 |
| &nbsp;&nbsp; Vertex, Cl A \* | 69 | 932 |
| &nbsp;&nbsp; ViaSat \* | 140 | 4823 |
| &nbsp;&nbsp; Viavi Solutions \* | 440 | 4972 |
| &nbsp;&nbsp; Visa, Cl A | 3721 | 856611 |
| &nbsp;&nbsp; Vishay Intertechnology | 255 | 5837 |
| &nbsp;&nbsp; Vishay Precision Group \* | 23 | 993 |
| &nbsp;&nbsp; VMware, Cl A \* | 515 | 63043 |
| &nbsp;&nbsp; Vontier | 307 | 7070 |
| &nbsp;&nbsp; Western Digital \* | 712 | 31292 |
| &nbsp;&nbsp; Western Union | 874 | 12385 |
| &nbsp;&nbsp; WEX \* | 99 | 18312 |
| &nbsp;&nbsp; Wolfspeed \* | 281 | 21640 |
| &nbsp;&nbsp; Workday, Cl A \* | 456 | 82732 |
| &nbsp;&nbsp; Workiva, Cl A \* | 105 | 9086 |
| &nbsp;&nbsp; Xerox Holdings | 286 | 4685 |
| &nbsp;&nbsp; Yext \* | 192 | 1334 |
| &nbsp;&nbsp; Zebra Technologies, Cl A \* | 117 | 36993 |
| &nbsp;&nbsp; Zeta Global Holdings, Cl A \* | 246 | 2234 |
| &nbsp;&nbsp; Zoom Video Communications,<br>Cl A \* | 476 | 35700 |
| &nbsp;&nbsp; Zscaler \* | 193 | 23963 |
| &nbsp;&nbsp; Zuora, Cl A \* | 241 | 1909 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;23078417 |
|  **MATERIALS — 3.4%** |  |  |
| &nbsp;&nbsp; 5E Advanced Materials \* | 77 | 758 |
| &nbsp;&nbsp; AdvanSix | 53 | 2292 |
| &nbsp;&nbsp; Air Products and Chemicals | 499 | 159934 |
| &nbsp;&nbsp; Albemarle | 266 | 74866 |
| &nbsp;&nbsp; Alcoa | 407 | 21262 |
| &nbsp;&nbsp; Alpha Metallurgical Resources | 29 | 4667 |
| &nbsp;&nbsp; American Vanguard | 57 | 1288 |
| &nbsp;&nbsp; Amyris \* | 422 | 671 |
| &nbsp;&nbsp; AptarGroup | 148 | 17115 |

---

---

| | | |
|:---|:---|:---|
|  **COMMON STOCK — continued** | **COMMON STOCK — continued** |  |
|  | **Shares** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Value**  |
|  **MATERIALS— continued** |  |  |
| &nbsp;&nbsp; Arconic \* | 198 | $4655 |
| &nbsp;&nbsp; Ardagh Metal Packaging | 282 | 1585 |
| &nbsp;&nbsp; Ashland | 123 | 13440 |
| &nbsp;&nbsp; Aspen Aerogels \* | 75 | 787 |
| &nbsp;&nbsp; ATI \* | 293 | 10662 |
| &nbsp;&nbsp; Avery Dennison | 183 | 34668 |
| &nbsp;&nbsp; Avient | 167 | 6767 |
| &nbsp;&nbsp; Axalta Coating Systems \* | 501 | 15080 |
| &nbsp;&nbsp; Balchem | 72 | 9405 |
| &nbsp;&nbsp; Ball | 712 | 41467 |
| &nbsp;&nbsp; Berry Global Group | 285 | 17593 |
| &nbsp;&nbsp; Cabot | 127 | 9567 |
| &nbsp;&nbsp; Carpenter Technology | 93 | 4491 |
| &nbsp;&nbsp; Celanese, Cl A | 247 | 30430 |
| &nbsp;&nbsp; Century Aluminum \* | 100 | 1124 |
| &nbsp;&nbsp; CF Industries Holdings | 452 | 38284 |
| &nbsp;&nbsp; Chase | 14 | 1321 |
| &nbsp;&nbsp; Chemours | 349 | 12700 |
| &nbsp;&nbsp; Clearwater Paper \* | 32 | 1236 |
| &nbsp;&nbsp; Cleveland-Cliffs \* | 1159 | 24745 |
| &nbsp;&nbsp; Coeur Mining \* | 543 | 2112 |
| &nbsp;&nbsp; Commercial Metals | 264 | 14327 |
| &nbsp;&nbsp; Compass Minerals International | 80 | 3733 |
| &nbsp;&nbsp; Corteva | 1637 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;105505 |
| &nbsp;&nbsp; Crown Holdings | 272 | 23980 |
| &nbsp;&nbsp; Danimer Scientific \* | 173 | 394 |
| &nbsp;&nbsp; Diversey Holdings \* | 150 | 910 |
| &nbsp;&nbsp; Dow | 1636 | 97097 |
| &nbsp;&nbsp; DuPont de Nemours | 1141 | 84377 |
| &nbsp;&nbsp; Eagle Materials | 85 | 12417 |
| &nbsp;&nbsp; Eastman Chemical | 279 | 24599 |
| &nbsp;&nbsp; Ecolab | 576 | 89182 |
| &nbsp;&nbsp; Ecovyst \* | 150 | 1573 |
| &nbsp;&nbsp; Element Solutions | 515 | 10547 |
| &nbsp;&nbsp; FMC | 286 | 38075 |
| &nbsp;&nbsp; Freeport-McMoRan | 3217 | 143543 |
| &nbsp;&nbsp; FutureFuel | 50 | 463 |
| &nbsp;&nbsp; Ginkgo Bioworks Holdings \* | 1721 | 3356 |
| &nbsp;&nbsp; Graphic Packaging Holding | 694 | 16718 |
| &nbsp;&nbsp; Greif, Cl A | 48 | 3429 |
| &nbsp;&nbsp; Hawkins | 37 | 1443 |
| &nbsp;&nbsp; Haynes International | 24 | 1337 |
| &nbsp;&nbsp; HB Fuller | 115 | 7946 |
| &nbsp;&nbsp; Hecla Mining | 1257 | 7756 |
| &nbsp;&nbsp; Huntsman | 433 | 13722 |
| &nbsp;&nbsp; Ingevity \* | 74 | 6101 |
| &nbsp;&nbsp; Innospec | 48 | 5425 |
| &nbsp;&nbsp; International Flavors & Fragrances | 581 | 65339 |
| &nbsp;&nbsp; International Paper | 821 | 34334 |
| &nbsp;&nbsp; Intrepid Potash \* | 18 | 589 |
| &nbsp;&nbsp; Kaiser Aluminum | 31 | 2713 |
| &nbsp;&nbsp; Koppers Holdings | 39 | 1350 |
| &nbsp;&nbsp; Kronos Worldwide | 43 | 501 |
| &nbsp;&nbsp; Linde PLC | 1000 | 330940 |
| &nbsp;&nbsp; Livent \* | 406 | 10524 |

---

**35** 

------

---

| | |
|:---|:---|
| **THE ADVISORS' INNER CIRCLE FUND III** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **KNIGHTS OF COLUMBUS** <br> **U.S. ALL CAP INDEX FUND** <br> **JANUARY 31, 2023** <br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(Unaudited)**  |

---

---

| | | |
|:---|:---|:---|
|  **COMMON STOCK — continued** | |  |
|  | <br> **Shares** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Value**  |
|  **MATERIALS— continued** |  |  |
| &nbsp;&nbsp; Louisiana-Pacific | 166 | $11303 |
| &nbsp;&nbsp; LSB Industries \* | 122 | 1551 |
| &nbsp;&nbsp; LyondellBasell Industries, Cl A | 581 | 56177 |
| &nbsp;&nbsp; Martin Marietta Materials | 142 | 51069 |
| &nbsp;&nbsp; Materion | 40 | 3610 |
| &nbsp;&nbsp; Mativ Holdings | 106 | 2932 |
| &nbsp;&nbsp; Minerals Technologies | 63 | 4375 |
| &nbsp;&nbsp; Mosaic | 786 | 38938 |
| &nbsp;&nbsp; MP Materials \* | 307 | 9981 |
| &nbsp;&nbsp; Myers Industries | 71 | 1710 |
| &nbsp;&nbsp; NewMarket | 13 | 4479 |
| &nbsp;&nbsp; Newmont | 1809 | 95750 |
| &nbsp;&nbsp; Nucor | 593 | 100229 |
| &nbsp;&nbsp; O-I Glass \* | 302 | 5813 |
| &nbsp;&nbsp; Olin | 330 | 21315 |
| &nbsp;&nbsp; Olympic Steel | 19 | 841 |
| &nbsp;&nbsp; Origin Materials \* | 201 | 1216 |
| &nbsp;&nbsp; Packaging Corp of America | 210 | 29967 |
| &nbsp;&nbsp; Pactiv Evergreen | 76 | 875 |
| &nbsp;&nbsp; Piedmont Lithium \* | 34 | 2334 |
| &nbsp;&nbsp; PPG Industries | 535 | 69732 |
| &nbsp;&nbsp; PureCycle Technologies \* | 226 | 1894 |
| &nbsp;&nbsp; Quaker Chemical | 27 | 5315 |
| &nbsp;&nbsp; Ramaco Resources | 47 | 490 |
| &nbsp;&nbsp; Rayonier Advanced Materials \* | 120 | 832 |
| &nbsp;&nbsp; Reliance Steel & Aluminum | 136 | 30933 |
| &nbsp;&nbsp; Royal Gold | 149 | 18927 |
| &nbsp;&nbsp; RPM International | 291 | 26164 |
| &nbsp;&nbsp; Ryerson Holding | 39 | 1489 |
| &nbsp;&nbsp; Schnitzer Steel Industries, Cl A | 50 | 1692 |
| &nbsp;&nbsp; Scotts Miracle-Gro, Cl A | 79 | 5703 |
| &nbsp;&nbsp; Sealed Air | 329 | 18016 |
| &nbsp;&nbsp; Sensient Technologies | 95 | 7191 |
| &nbsp;&nbsp; Sherwin-Williams | 543 | 128468 |
| &nbsp;&nbsp; Silgan Holdings | 191 | 10293 |
| &nbsp;&nbsp; Sonoco Products | 221 | 13505 |
| &nbsp;&nbsp; Steel Dynamics | 393 | 47412 |
| &nbsp;&nbsp; Stepan | 42 | 4613 |
| &nbsp;&nbsp; Summit Materials, Cl A \* | 273 | 8971 |
| &nbsp;&nbsp; SunCoke Energy | 162 | 1476 |
| &nbsp;&nbsp; Sylvamo | 74 | 3517 |
| &nbsp;&nbsp; TimkenSteel \* | 79 | 1554 |
| &nbsp;&nbsp; Tredegar | 49 | 594 |
| &nbsp;&nbsp; TriMas | 60 | 1847 |
| &nbsp;&nbsp; Trinseo PLC | 68 | 1887 |
| &nbsp;&nbsp; Tronox Holdings PLC, Cl A | 225 | 3859 |
| &nbsp;&nbsp; United States Lime & Minerals | 4 | 607 |
| &nbsp;&nbsp; United States Steel | 535 | 15242 |
| &nbsp;&nbsp; Valvoline | 402 | 14737 |
| &nbsp;&nbsp; Vulcan Materials | 302 | 55366 |
| &nbsp;&nbsp; Warrior Met Coal | 101 | 3826 |
| &nbsp;&nbsp; Westlake | 76 | 9329 |
| &nbsp;&nbsp; WestRock | 572 | 22445 |
| &nbsp;&nbsp; Worthington Industries | 59 | 3355 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2714963 |

---

---

| | | |
|:---|:---|:---|
|  **COMMON STOCK — continued** | |  |
|  | <br> **Shares** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Value**  |
|  **REAL ESTATE — 3.8%** |  |  |
| &nbsp;&nbsp; Acadia Realty Trust ‡ | 185 | $2873 |
| &nbsp;&nbsp; Agree Realty ‡ | 179 | 13359 |
| &nbsp;&nbsp; Alexander & Baldwin ‡ | 141 | 2823 |
| &nbsp;&nbsp; Alexander's ‡ | 4 | 949 |
| &nbsp;&nbsp; Alexandria Real Estate Equities ‡ | 369 | 59313 |
| &nbsp;&nbsp; American Assets Trust ‡ | 95 | 2704 |
| &nbsp;&nbsp; American Homes 4 Rent, Cl A ‡ | 690 | 23660 |
| &nbsp;&nbsp; American Tower ‡ | 1056 | 235900 |
| &nbsp;&nbsp; Americold Realty Trust ‡ | 613 | 19254 |
| &nbsp;&nbsp; Anywhere Real Estate \* | 218 | 1849 |
| &nbsp;&nbsp; Apartment Income ‡ | 350 | 13391 |
| &nbsp;&nbsp; Apartment Investment and Management, Cl A \*‡ | 276 | 2073 |
| &nbsp;&nbsp; Apple Hospitality ‡ | 488 | 8652 |
| &nbsp;&nbsp; Armada Hoffler Properties ‡ | 130 | 1648 |
| &nbsp;&nbsp; Ashford Hospitality Trust \*‡ | 67 | 462 |
| &nbsp;&nbsp; AvalonBay Communities ‡ | 319 | 56603 |
| &nbsp;&nbsp; Boston Properties ‡ | 357 | 26611 |
| &nbsp;&nbsp; Braemar Hotels & Resorts ‡ | 113 | 599 |
| &nbsp;&nbsp; Brandywine Realty Trust ‡ | 331 | 2171 |
| &nbsp;&nbsp; Brixmor Property Group ‡ | 680 | 16000 |
| &nbsp;&nbsp; Broadstone Net Lease, Cl A ‡ | 333 | 6031 |
| &nbsp;&nbsp; BRT Apartments ‡ | 22 | 461 |
| &nbsp;&nbsp; Camden Property Trust ‡ | 238 | 29324 |
| &nbsp;&nbsp; CareTrust ‡ | 187 | 3875 |
| &nbsp;&nbsp; CBL & Associates Properties ‡ | 54 | 1439 |
| &nbsp;&nbsp; CBRE Group, Cl A \* | 726 | 62080 |
| &nbsp;&nbsp; Centerspace ‡ | 30 | 2029 |
| &nbsp;&nbsp; Chatham Lodging Trust ‡ | 93 | 1322 |
| &nbsp;&nbsp; Community Healthcare Trust ‡ | 46 | 1972 |
| &nbsp;&nbsp; Compass, Cl A \* | 539 | 2167 |
| &nbsp;&nbsp; Corporate Office Properties Trust ‡ | 220 | 6175 |
| &nbsp;&nbsp; Cousins Properties ‡ | 344 | 9432 |
| &nbsp;&nbsp; Crown Castle ‡ | 984 | 145740 |
| &nbsp;&nbsp; CTO Realty Growth ‡ | 31 | 609 |
| &nbsp;&nbsp; CubeSmart ‡ | 509 | 23307 |
| &nbsp;&nbsp; Cushman & Wakefield PLC \* | 370 | 5339 |
| &nbsp;&nbsp; DiamondRock Hospitality ‡ | 406 | 3910 |
| &nbsp;&nbsp; Digital Realty Trust ‡ | 655 | 75076 |
| &nbsp;&nbsp; DigitalBridge Group | 318 | 4710 |
| &nbsp;&nbsp; Diversified Healthcare Trust ‡ | 463 | 366 |
| &nbsp;&nbsp; Douglas Elliman | 133 | 620 |
| &nbsp;&nbsp; Douglas Emmett ‡ | 327 | 5477 |
| &nbsp;&nbsp; Easterly Government Properties,<br>Cl A ‡ | 171 | 2777 |
| &nbsp;&nbsp; EastGroup Properties ‡ | 98 | 16488 |
| &nbsp;&nbsp; Elme Communities ‡ | 170 | 3264 |
| &nbsp;&nbsp; Empire State Realty Trust, Cl A ‡ | 260 | 2168 |
| &nbsp;&nbsp; EPR Properties ‡ | 169 | 7179 |
| &nbsp;&nbsp; Equinix ‡ | 207 | 152793 |
| &nbsp;&nbsp; Equity Commonwealth \*‡ | 212 | 5410 |
| &nbsp;&nbsp; Equity LifeStyle Properties ‡ | 403 | 28927 |
| &nbsp;&nbsp; Equity Residential ‡ | 843 | 53657 |
| &nbsp;&nbsp; Essential Properties Realty Trust ‡ | 319 | 8128 |
| &nbsp;&nbsp; Essex Property Trust ‡ | 148 | 33458 |
| &nbsp;&nbsp; eXp World Holdings | 145 | 2261 |

---

**36** 

------

---

| | |
|:---|:---|
| **THE ADVISORS' INNER CIRCLE FUND III** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **KNIGHTS OF COLUMBUS** <br> **U.S. ALL CAP INDEX FUND** <br> **JANUARY 31, 2023** <br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(Unaudited)**  |

---

---

| | | |
|:---|:---|:---|
|  **COMMON STOCK — continued** | **COMMON STOCK — continued** |  |
|  | **Shares** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Value**  |
|  **REAL ESTATE— continued** |  |  |
| &nbsp;&nbsp; Extra Space Storage ‡ | 301 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;47507 |
| &nbsp;&nbsp; Farmland Partners ‡ | 98 | 1262 |
| &nbsp;&nbsp; Federal Realty Investment Trust ‡ | 183 | 20410 |
| &nbsp;&nbsp; First Industrial Realty Trust ‡ | 300 | 16005 |
| &nbsp;&nbsp; Four Corners Property Trust ‡ | 158 | 4544 |
| &nbsp;&nbsp; Franklin Street Properties ‡ | 194 | 598 |
| &nbsp;&nbsp; FRP Holdings \* | 12 | 674 |
| &nbsp;&nbsp; Gaming and Leisure Properties ‡ | 559 | 29940 |
| &nbsp;&nbsp; Getty Realty ‡ | 83 | 3024 |
| &nbsp;&nbsp; Gladstone Commercial ‡ | 76 | 1291 |
| &nbsp;&nbsp; Gladstone Land ‡ | 62 | 1211 |
| &nbsp;&nbsp; Global Medical ‡ | 121 | 1359 |
| &nbsp;&nbsp; Global Net Lease ‡ | 203 | 3035 |
| &nbsp;&nbsp; Healthpeak Properties ‡ | 1227 | 33718 |
| &nbsp;&nbsp; Hersha Hospitality Trust, Cl A ‡ | 65 | 598 |
| &nbsp;&nbsp; Highwoods Properties ‡ | 203 | 6165 |
| &nbsp;&nbsp; Host Hotels & Resorts ‡ | 1613 | 30405 |
| &nbsp;&nbsp; Howard Hughes \* | 113 | 9660 |
| &nbsp;&nbsp; Hudson Pacific Properties ‡ | 276 | 3144 |
| &nbsp;&nbsp; Independence Realty Trust ‡ | 502 | 9453 |
| &nbsp;&nbsp; Industrial Logistics Properties<br>Trust ‡ | 126 | 556 |
| &nbsp;&nbsp; Innovative Industrial Properties, Cl A ‡ | 63 | 5656 |
| &nbsp;&nbsp; InvenTrust Properties ‡ | 132 | 3283 |
| &nbsp;&nbsp; Invitation Homes ‡ | 1390 | 45175 |
| &nbsp;&nbsp; Iron Mountain ‡ | 658 | 35914 |
| &nbsp;&nbsp; iStar ‡ | 161 | 1494 |
| &nbsp;&nbsp; JBG SMITH Properties ‡ | 222 | 4471 |
| &nbsp;&nbsp; Jones Lang LaSalle \* | 108 | 19966 |
| &nbsp;&nbsp; Kennedy-Wilson Holdings | 230 | 4112 |
| &nbsp;&nbsp; Kilroy Realty ‡ | 263 | 10794 |
| &nbsp;&nbsp; Kimco Realty ‡ | 1381 | 31017 |
| &nbsp;&nbsp; Kite Realty Group Trust ‡ | 495 | 10741 |
| &nbsp;&nbsp; Lamar Advertising, Cl A ‡ | 198 | 21095 |
| &nbsp;&nbsp; Life Storage ‡ | 192 | 20744 |
| &nbsp;&nbsp; LTC Properties ‡ | 78 | 2976 |
| &nbsp;&nbsp; LXP Industrial Trust, Cl B ‡ | 533 | 6156 |
| &nbsp;&nbsp; Macerich ‡ | 418 | 5743 |
| &nbsp;&nbsp; Marcus & Millichap | 48 | 1740 |
| &nbsp;&nbsp; Mid-America Apartment Communities ‡ | 262 | 43681 |
| &nbsp;&nbsp; National Health Investors ‡ | 84 | 4942 |
| &nbsp;&nbsp; National Retail Properties ‡ | 401 | 18987 |
| &nbsp;&nbsp; National Storage Affiliates Trust ‡ . | 194 | 7915 |
| &nbsp;&nbsp; Necessity Retail ‡ | 260 | 1776 |
| &nbsp;&nbsp; NETSTREIT ‡ | 98 | 1973 |
| &nbsp;&nbsp; Newmark Group, Cl A | 283 | 2425 |
| &nbsp;&nbsp; NexPoint Residential Trust ‡ | 45 | 2272 |
| &nbsp;&nbsp; Office Properties Income Trust ‡ | 92 | 1579 |
| &nbsp;&nbsp; Omega Healthcare Investors ‡ | 533 | 15692 |
| &nbsp;&nbsp; One Liberty Properties ‡ | 31 | 747 |
| &nbsp;&nbsp; Opendoor Technologies \* | 913 | 1999 |
| &nbsp;&nbsp; Orion Office ‡ | 105 | 1013 |
| &nbsp;&nbsp; Outfront Media ‡ | 276 | 5492 |
| &nbsp;&nbsp; Paramount Group ‡ | 367 | 2367 |

---

---

| | | |
|:---|:---|:---|
|  **COMMON STOCK — continued** | |  |
|  | <br> **Shares** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Value**  |
|  **REAL ESTATE— continued** |  |  |
| &nbsp;&nbsp; Park Hotels & Resorts ‡ | 431 | $6340 |
| &nbsp;&nbsp; Pebblebrook Hotel Trust ‡ | 254 | 4166 |
| &nbsp;&nbsp; Phillips Edison ‡ | 265 | 8883 |
| &nbsp;&nbsp; Piedmont Office Realty Trust,<br>Cl A ‡ | 239 | 2533 |
| &nbsp;&nbsp; Plymouth Industrial ‡ | 78 | 1746 |
| &nbsp;&nbsp; Postal Realty Trust, Cl A ‡ | 34 | 526 |
| &nbsp;&nbsp; PotlatchDeltic ‡ | 181 | 8838 |
| &nbsp;&nbsp; Prologis ‡ | 2096 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;270951 |
| &nbsp;&nbsp; Public Storage ‡ | 352 | 107128 |
| &nbsp;&nbsp; Rayonier ‡ | 331 | 12045 |
| &nbsp;&nbsp; RE/MAX Holdings, Cl A | 35 | 798 |
| &nbsp;&nbsp; Realty Income ‡ | 1407 | 95447 |
| &nbsp;&nbsp; Redfin \* | 206 | 1541 |
| &nbsp;&nbsp; Regency Centers ‡ | 387 | 25786 |
| &nbsp;&nbsp; Retail Opportunity Investments ‡ . | 237 | 3752 |
| &nbsp;&nbsp; Rexford Industrial Realty ‡ | 417 | 26467 |
| &nbsp;&nbsp; RLJ Lodging Trust ‡ | 312 | 3922 |
| &nbsp;&nbsp; RMR Group, Cl A | 28 | 869 |
| &nbsp;&nbsp; RPT Realty ‡ | 164 | 1719 |
| &nbsp;&nbsp; Ryman Hospitality Properties ‡ | 122 | 11333 |
| &nbsp;&nbsp; Sabra Health Care ‡ | 446 | 6021 |
| &nbsp;&nbsp; Safehold ‡ | 46 | 1620 |
| &nbsp;&nbsp; Saul Centers ‡ | 26 | 1113 |
| &nbsp;&nbsp; SBA Communications, Cl A ‡ | 243 | 72300 |
| &nbsp;&nbsp; Seritage Growth Properties \*‡ | 71 | 863 |
| &nbsp;&nbsp; Service Properties Trust ‡ | 316 | 2816 |
| &nbsp;&nbsp; Simon Property Group ‡ | 741 | 95189 |
| &nbsp;&nbsp; SITE Centers ‡ | 363 | 4955 |
| &nbsp;&nbsp; SL Green Realty ‡ | 123 | 5066 |
| &nbsp;&nbsp; Spirit MTA ‡(A) | 23 | 18 |
| &nbsp;&nbsp; Spirit Realty Capital ‡ | 309 | 13559 |
| &nbsp;&nbsp; St. Joe | 112 | 5275 |
| &nbsp;&nbsp; STAG Industrial ‡ | 408 | 14525 |
| &nbsp;&nbsp; STORE Capital ‡ | 640 | 20614 |
| &nbsp;&nbsp; Summit Hotel Properties ‡ | 204 | 1738 |
| &nbsp;&nbsp; Sun Communities ‡ | 277 | 43450 |
| &nbsp;&nbsp; Sunstone Hotel Investors ‡ | 410 | 4506 |
| &nbsp;&nbsp; Tanger Factory Outlet Centers ‡ | 199 | 3803 |
| &nbsp;&nbsp; Tejon Ranch \* | 50 | 1001 |
| &nbsp;&nbsp; Terreno Realty ‡ | 169 | 10889 |
| &nbsp;&nbsp; UDR ‡ | 737 | 31389 |
| &nbsp;&nbsp; UMH Properties ‡ | 98 | 1756 |
| &nbsp;&nbsp; Uniti Group ‡ | 453 | 2985 |
| &nbsp;&nbsp; Urban Edge Properties ‡ | 228 | 3591 |
| &nbsp;&nbsp; Urstadt Biddle Properties, Cl A ‡ . | 57 | 1070 |
| &nbsp;&nbsp; Ventas ‡ | 908 | 47043 |
| &nbsp;&nbsp; Veris Residential \*‡ | 174 | 3010 |
| &nbsp;&nbsp; VICI Properties, Cl A ‡ | 2194 | 75006 |
| &nbsp;&nbsp; Vornado Realty Trust ‡ | 381 | 9293 |
| &nbsp;&nbsp; Welltower ‡ | 1057 | 79317 |
| &nbsp;&nbsp; WeWork, Cl A \* | 424 | 674 |
| &nbsp;&nbsp; Weyerhaeuser ‡ | 1683 | 57946 |
| &nbsp;&nbsp; Whitestone, Cl B ‡ | 90 | 937 |
| &nbsp;&nbsp; WP Carey ‡ | 436 | 37291 |
| &nbsp;&nbsp; Xenia Hotels & Resorts ‡ | 222 | 3308 |

---

**37** 

------

---

| | |
|:---|:---|
| **THE ADVISORS' INNER CIRCLE FUND III** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **KNIGHTS OF COLUMBUS** <br> **U.S. ALL CAP INDEX FUND** <br> **JANUARY 31, 2023** <br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(Unaudited)**  |

---

---

| | | |
|:---|:---|:---|
|  **COMMON STOCK — continued** | **COMMON STOCK — continued** |  |
|  | **Shares** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Value**  |
|  **REAL ESTATE— continued** |  |  |
| &nbsp;&nbsp; Zillow Group, Cl C \* | 363 | $16048 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3042136 |
|  **UTILITIES — 3.2%** |  |  |
| &nbsp;&nbsp; AES | 1519 | 41636 |
| &nbsp;&nbsp; ALLETE | 130 | 8042 |
| &nbsp;&nbsp; Alliant Energy | 572 | 30905 |
| &nbsp;&nbsp; Altus Power, Cl A \* | 109 | 874 |
| &nbsp;&nbsp; Ameren | 586 | 50906 |
| &nbsp;&nbsp; American Electric Power | 1171 | 110027 |
| &nbsp;&nbsp; American States Water | 84 | 7910 |
| &nbsp;&nbsp; American Water Works | 414 | 64787 |
| &nbsp;&nbsp; Artesian Resources, Cl A | 16 | 942 |
| &nbsp;&nbsp; Atmos Energy | 316 | 37143 |
| &nbsp;&nbsp; Avangrid | 138 | 5819 |
| &nbsp;&nbsp; Avista | 165 | 6584 |
| &nbsp;&nbsp; Black Hills | 148 | 10712 |
| &nbsp;&nbsp; California Water Service Group | 123 | 7524 |
| &nbsp;&nbsp; CenterPoint Energy | 1431 | 43102 |
| &nbsp;&nbsp; Chesapeake Utilities | 34 | 4287 |
| &nbsp;&nbsp; Clearway Energy, Cl C | 159 | 5373 |
| &nbsp;&nbsp; CMS Energy | 665 | 42021 |
| &nbsp;&nbsp; Consolidated Edison | 808 | 77011 |
| &nbsp;&nbsp; Constellation Energy | 742 | 63337 |
| &nbsp;&nbsp; Dominion Energy | 1892 | 120407 |
| &nbsp;&nbsp; DTE Energy | 438 | 50970 |
| &nbsp;&nbsp; Duke Energy | 1756 | 179902 |
| &nbsp;&nbsp; Edison International | 870 | 59943 |
| &nbsp;&nbsp; Entergy | 462 | 50025 |
| &nbsp;&nbsp; Essential Utilities | 597 | 27898 |
| &nbsp;&nbsp; Evergy | 516 | 32327 |
| &nbsp;&nbsp; Eversource Energy | 787 | 64794 |
| &nbsp;&nbsp; Exelon | 2258 | 95265 |
| &nbsp;&nbsp; FirstEnergy | 1303 | 53358 |
| &nbsp;&nbsp; Hawaiian Electric Industries | 248 | 10483 |
| &nbsp;&nbsp; IDACORP | 115 | 12168 |
| &nbsp;&nbsp; MGE Energy | 71 | 5191 |
| &nbsp;&nbsp; Middlesex Water | 34 | 2851 |
| &nbsp;&nbsp; Montauk Renewables \* | 85 | 944 |
| &nbsp;&nbsp; National Fuel Gas | 199 | 11554 |
| &nbsp;&nbsp; New Jersey Resources | 219 | 10932 |
| &nbsp;&nbsp; NextEra Energy | 4512 | 336731 |
| &nbsp;&nbsp; NextEra Energy Partners | 191 | 14000 |
| &nbsp;&nbsp; NiSource | 922 | 25586 |
| &nbsp;&nbsp; Northwest Natural Holding | 68 | 3410 |
| &nbsp;&nbsp; NorthWestern | 127 | 7214 |
| &nbsp;&nbsp; NRG Energy | 523 | 17897 |
| &nbsp;&nbsp; OGE Energy | 456 | 17930 |
| &nbsp;&nbsp; ONE Gas | 121 | 9966 |
| &nbsp;&nbsp; Ormat Technologies | 128 | 11846 |
| &nbsp;&nbsp; Otter Tail | 73 | 4683 |
| &nbsp;&nbsp; PG&E \* | 3731 | 59323 |
| &nbsp;&nbsp; Pinnacle West Capital | 257 | 19159 |
| &nbsp;&nbsp; PNM Resources | 193 | 9550 |
| &nbsp;&nbsp; Portland General Electric | 202 | 9611 |

---

---

| | | |
|:---|:---|:---|
|  **COMMON STOCK — continued** | |  |
|  | <br> **Shares** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Value**  |
|  **UTILITIES— continued** |  |  |
| &nbsp;&nbsp; PPL | 1679 | $49698 |
| &nbsp;&nbsp; Public Service Enterprise Group | 1136 | 70352 |
| &nbsp;&nbsp; Sempra Energy | 716 | 114796 |
| &nbsp;&nbsp; SJW Group | 52 | 4025 |
| &nbsp;&nbsp; South Jersey Industries | 278 | 10033 |
| &nbsp;&nbsp; Southern | 2478 | 167711 |
| &nbsp;&nbsp; Southwest Gas Holdings | 151 | 10106 |
| &nbsp;&nbsp; Spire | 116 | 8378 |
| &nbsp;&nbsp; Star Group | 61 | 729 |
| &nbsp;&nbsp; Sunnova Energy International \* | 193 | 3760 |
| &nbsp;&nbsp; UGI | 474 | 18879 |
| &nbsp;&nbsp; Unitil | 31 | 1617 |
| &nbsp;&nbsp; Vistra | 909 | 20962 |
| &nbsp;&nbsp; WEC Energy Group | 719 | 67579 |
| &nbsp;&nbsp; Xcel Energy | 1248 | 85825 |
| &nbsp;&nbsp; York Water | 28 | 1273 |
|  |  | 2590583 |
| &nbsp;&nbsp; Total Common Stock<br>(Cost $77,086,407) |  | 76194686 |
|  **RIGHTS — 0.0%** |  |  |
|  | **Number Of<br>Rights** |  |
| &nbsp;&nbsp; AbioMed \*‡‡ | 101 |  |
| &nbsp;&nbsp; Achillion Pharmaceuticals \*‡‡(A) | 78 | 78 |
| &nbsp;&nbsp; Akouos \*‡‡ | 41 |  |
| &nbsp;&nbsp; Flexion Therapeutics \*‡‡(A) | 42 |  |
| &nbsp;&nbsp; Prevail Therapeutics \*‡‡(A) | 16 |  |
| &nbsp;&nbsp; Progenics Pharmaceuticals \*‡‡(A) | 45 |  |
| &nbsp;&nbsp; Radius Health \*‡‡(A) | 82 |  |
| &nbsp;&nbsp; Zagg \*‡‡(A) | 17 |  |
| &nbsp;&nbsp; Zogenix \*‡‡(A) | 79 |  |
| &nbsp;&nbsp; Total Rights<br>(Cost $–) |  | 78 |
|  **WARRANTS — 0.0%** |  |  |
|  | **Number Of<br>Warrants** |  |
| &nbsp;&nbsp; Nabors Industries, Strike Price $166.67,\* |  |  |
| &nbsp;&nbsp; Expires 6/14/2026 | 2 | 61 |
| &nbsp;&nbsp; Triumph Group, Strike Price $12.35,\* |  |  |
| &nbsp;&nbsp; Expires 12/19/2023 | 37 | 38 |
| &nbsp;&nbsp; Total Warrants<br>(Cost $–) |  | 99 |
| &nbsp;&nbsp; Total Investments in Securities— 95.2% (Cost $77,086,407) | &nbsp;&nbsp; Total Investments in Securities— 95.2% (Cost $77,086,407) | $76194863 |

---

Percentages are based on Net Assets of $80,026,754.

# More narrow industries are utilized for compliance purposes, whereas broad sectors are utilized for reporting purposes.

\* Non-income producing security.

‡ Real Estate Investment Trust.

‡‡ Expiration date unavailable.

**38** 

------

---

| | |
|:---|:---|
| **THE ADVISORS' INNER CIRCLE FUND III** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **KNIGHTS OF COLUMBUS**<br> **U.S. ALL CAP INDEX FUND**<br> **JANUARY 31, 2023**<br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(Unaudited)** |

---

(A) Level 3 security in accordance with fair value hierarchy.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

(B) There is currently no rate available.

A list of the open OTC swap agreements held by the Fund at January 31, 2023, is as follows:

---

| | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| Total Return Swaps | Total Return Swaps | Total Return Swaps | Total Return Swaps | Total Return Swaps | Total Return Swaps | Total Return Swaps | Total Return Swaps | Total Return Swaps | Total Return Swaps | Total Return Swaps |
| &nbsp;&nbsp;&nbsp;&nbsp;Counterparty | Reference Entity/<br> Obligation | Fund Pays | Fund Receives | Payment<br> Frequency | Termination<br> Date | Currency | Notional<br> Amount | Value | Upfront<br> Payments/<br> Receipts | Net Unrealized<br> Appreciation |
|  Wells Fargo | WFCBL2N3<br>Custom Basket\* | USD-LIBOR-<br>BBA + 0.450% | Asset Return | Annually | 12/06/2023 | USD | $3418986 | $148411 | $– | $148411 |

---

\*The following table represents the individual common stock exposures comprising the WFCBL2N3 Custom Basket Total Return Swaps as of January 31, 2023:

---

| | | | | |
|:---|:---|:---|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Shares | Description | Notional <br>Amount ($) | Unrealized <br>Appreciation ($) | Percentage<br>of Basket (%) |
| 284 | 3M Co | 10326 | 448 | 0.3 |
| 346 | Accenture PLC | 30442 | 1321 | 0.9 |
| 373 | Activision Blizzard Inc | 9013 | 391 | 0.3 |
| 244 | Adobe Inc | 28558 | 1240 | 0.8 |
| 822 | Advanced Micro Devices Inc | 19499 | 846 | 0.5 |
| 113 | Air Products And Chemicals Inc | 11460 | 498 | 0.3 |
| 222 | Airbnb Inc | 7795 | 338 | 0.2 |
| 62 | Albemarle Corp | 5485 | 238 | 0.2 |
| 138 | Allstate Corp/The | 5603 | 243 | 0.2 |
| 2816 | Alphabet Inc, Class A | 88804 | 3855 | 2.6 |
| 3133 | Alphabet Inc, Class C | 97754 | 4243 | 2.9 |
| 934 | Altria Group Inc | 13277 | 576 | 0.4 |
| 260 | American Electric Power Co Inc | 7708 | 335 | 0.2 |
| 387 | American Express Co | 21375 | 928 | 0.6 |
| 381 | American International Group Inc | 7612 | 330 | 0.2 |
| 236 | American Tower Corp | 16671 | 724 | 0.4 |
| 55 | Ameriprise Financial Inc | 6111 | 265 | 0.2 |
| 117 | Ametek Inc | 5354 | 232 | 0.2 |
| 272 | Amgen Inc | 21697 | 942 | 0.6 |
| 309 | Amphenol Corp | 7787 | 338 | 0.2 |
| 265 | Analog Devices Inc | 14333 | 622 | 0.4 |
| 8412 | Apple Inc | 383225 | 16635 | 11.2 |
| 442 | Applied Materials Inc | 15571 | 676 | 0.5 |
| 286 | Archer-Daniels-Midland Co | 7481 | 325 | 0.2 |
| 121 | Arista Networks Inc | 4795 | 208 | 0.1 |
| 106 | Arthur J Gallagher & Co | 6552 | 284 | 0.1 |
| 3576 | AT&T Inc | 23000 | 998 | 0.7 |
| 116 | Autodesk Inc | 7913 | 344 | 0.2 |
| 214 | Automatic Data Processing Inc | 15247 | 662 | 0.4 |
| 10 | Autozone Inc | 7500 | 326 | 0.2 |
| 4054 | Bank Of America Corp | 45415 | 1971 | 1.3 |
| 409 | Bank Of New York Mellon Corp/The | 6524 | 283 | 0.1 |
| 937 | Berkshire Hathaway Inc | 92141 | 4000 | 2.7 |
| 77 | Blackrock Inc | 18406 | 799 | 0.4 |
| 357 | Blackstone Inc | 10812 | 469 | 0.3 |
| 286 | Block Inc | 7372 | 320 | 0.2 |
| 21 | Booking Holdings Inc | 16215 | 704 | 0.5 |
| 731 | Boston Scientific Corp | 10668 | 463 | 0.3 |
| 1078 | Bristol-Myers Squibb Co | 24736 | 1074 | 0.7 |
| 142 | Cadence Design Systems Inc | 8197 | 356 | 0.2 |
| 198 | Capital One Financial Corp | 7424 | 322 | 0.2 |
| 429 | Carrier Global Corp | 6170 | 268 | 0.2 |
| 271 | Caterpillar Inc | 21562 | 936 | 0.6 |
| 866 | Charles Schwab Corp/The | 21170 | 919 | 0.6 |
| 58 | Charter Communications Inc | 7026 | 305 | 0.2 |
| 126 | Cheniere Energy Inc | 6063 | 263 | 0.2 |
| 1008 | Chevron Corp | 55370 | 2404 | 1.6 |
| 15 | Chipotle Mexican Grill Inc | 7584 | 329 | 0.2 |

---

**39** 

------

---

| | |
|:---|:---|
| **THE ADVISORS' INNER CIRCLE FUND III** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **KNIGHTS OF COLUMBUS**<br> **U.S. ALL CAP INDEX FUND**<br> **JANUARY 31, 2023**<br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(Unaudited)** |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Shares | Description | Notional <br>Amount ($) | Unrealized <br>Appreciation ($) | Percentage<br>of Basket (%) |
| 212 | Chubb Ltd | 15248 | 662 | 0.4 |
| 45 | Cintas Corp | 6278 | 273 | 0.2 |
| 2109 | Cisco Systems Inc | 32413 | 1407 | 0.9 |
| 992 | Citigroup Inc | 16358 | 710 | 0.5 |
| 181 | Cme Group Inc | 10100 | 438 | 0.3 |
| 2197 | Coca-Cola Co/The | 42537 | 1846 | 1.2 |
| 271 | Cognizant Technology Solutions Corp | 5704 | 248 | 0.2 |
| 428 | Colgate-Palmolive Co | 10064 | 437 | 0.3 |
| 2251 | Comcast Corp | 27962 | 1214 | 0.8 |
| 178 | Consolidated Edison Inc | 5365 | 233 | 0.2 |
| 80 | Constellation Brands Inc | 5821 | 253 | 0.2 |
| 167 | Constellation Energy Corp | 4489 | 195 | 0.1 |
| 363 | Corteva Inc | 7385 | 321 | 0.2 |
| 208 | Costar Group Inc | 5116 | 222 | 0.1 |
| 115 | Crowdstrike Holdings Inc | 3858 | 167 | 0.1 |
| 223 | Crown Castle Inc | 10430 | 453 | 0.3 |
| 1079 | CSX Corp | 10530 | 457 | 0.3 |
| 71 | Cummins Inc | 5631 | 244 | 0.2 |
| 142 | Deere & Co | 18948 | 822 | 0.6 |
| 374 | Devon Energy Corp | 7463 | 324 | 0.2 |
| 201 | Dexcom Inc | 6791 | 295 | 0.2 |
| 116 | Dollar General Corp | 8524 | 370 | 0.2 |
| 115 | Dollar Tree Inc | 5452 | 237 | 0.2 |
| 422 | Dominion Energy Inc | 8483 | 368 | 0.2 |
| 362 | Dow Inc | 6775 | 294 | 0.2 |
| 392 | Duke Energy Corp | 12668 | 550 | 0.4 |
| 201 | Eaton Corp PLC | 10316 | 448 | 0.3 |
| 133 | Ecolab Inc | 6487 | 282 | 0.2 |
| 320 | Edwards Lifesciences Corp | 7737 | 336 | 0.2 |
| 129 | Electronic Arts Inc | 5236 | 227 | 0.2 |
| 423 | Eli Lilly & Co | 45985 | 1996 | 1.3 |
| 299 | Emerson Electric Co | 8517 | 370 | 0.2 |
| 69 | Enphase Energy Inc | 4803 | 208 | 0.1 |
| 296 | Eog Resources Inc | 12361 | 537 | 0.4 |
| 46 | Equinix Inc | 10764 | 467 | 0.3 |
| 127 | Estee Lauder Cos Inc/The | 11069 | 481 | 0.3 |
| 509 | Exelon Corp | 6775 | 294 | 0.2 |
| 2144 | Exxon Mobil Corp | 78537 | 3409 | 2.3 |
| 123 | Fedex Corp | 7544 | 328 | 0.2 |
| 318 | Fidelity National Information Services Inc | 7539 | 327 | 0.2 |
| 315 | Fiserv Inc | 10616 | 461 | 0.3 |
| 2039 | Ford Motor Co | 8696 | 378 | 0.3 |
| 350 | Fortinet Inc | 5777 | 251 | 0.2 |
| 755 | Freeport-Mcmoran Inc | 10638 | 462 | 0.3 |
| 300 | General Mills Inc | 7428 | 323 | 0.2 |
| 731 | General Motors Co | 9069 | 394 | 0.3 |
| 643 | Gilead Sciences Inc | 17053 | 740 | 0.5 |
| 146 | Global Payments Inc | 5197 | 226 | 0.2 |
| 172 | Goldman Sachs Group Inc/The | 19836 | 861 | 0.6 |
| 465 | Halliburton Co | 6050 | 263 | 0.2 |
| 75 | Hershey Co/The | 5296 | 230 | 0.2 |
| 144 | Hess Corp | 6817 | 296 | 0.2 |
| 140 | Hilton Worldwide Holdings Inc | 6415 | 279 | 0.2 |
| 528 | Home Depot Inc/The | 54060 | 2347 | 1.6 |
| 344 | Honeywell International Inc | 22639 | 983 | 0.7 |
| 44 | Idexx Laboratories Inc | 6686 | 290 | 0.2 |
| 158 | Illinois Tool Works Inc | 11806 | 512 | 0.3 |
| 2136 | Intel Corp | 19061 | 827 | 0.6 |
| 460 | International Business Machines Corp | 19554 | 849 | 0.6 |
| 142 | Intuit Inc | 18904 | 821 | 0.6 |
| 185 | Intuitive Surgical Inc | 14368 | 624 | 0.4 |
| 350 | Johnson Controls International PLC | 7698 | 334 | 0.2 |
| 1477 | JPMorgan Chase & Co | 65278 | 2834 | 1.9 |

---

**40** 

------

---

| | |
|:---|:---|
| **THE ADVISORS' INNER CIRCLE FUND III** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **KNIGHTS OF COLUMBUS**<br> **U.S. ALL CAP INDEX FUND**<br> **JANUARY 31, 2023**<br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(Unaudited)** |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Shares | Description | Notional <br>Amount ($) | Unrealized <br>Appreciation ($) | Percentage<br>of Basket (%) |
| 437 | Keurig Dr Pepper Inc | 4870 | 211 | 0.1 |
| 93 | Keysight Technologies Inc | 5277 | 229 | 0.2 |
| 173 | Kimberly-Clark Corp | 7101 | 308 | 0.2 |
| 1012 | Kinder Morgan Inc | 5846 | 254 | 0.2 |
| 73 | KLA Corp | 9099 | 395 | 0.3 |
| 559 | Kraft Heinz Co/The | 7148 | 310 | 0.2 |
| 72 | Lam Research Corp | 11300 | 491 | 0.3 |
| 223 | Linde PLC | 23330 | 1013 | 0.7 |
| 326 | Lowe's Cos Inc | 21439 | 931 | 0.6 |
| 261 | Marathon Petroleum Corp | 10580 | 459 | 0.3 |
| 147 | Marriott International Inc/MD | 8060 | 350 | 0.2 |
| 256 | Marsh & Mclennan Cos Inc | 14142 | 614 | 0.4 |
| 435 | Marvell Technology Inc | 5930 | 257 | 0.2 |
| 1201 | Meta Platforms Inc | 56475 | 2451 | 1.7 |
| 281 | Microchip Technology Inc | 6879 | 299 | 0.2 |
| 561 | Micron Technology Inc | 10675 | 463 | 0.3 |
| 177 | Moderna Inc | 9816 | 426 | 0.3 |
| 682 | Mondelez International Inc | 14100 | 612 | 0.4 |
| 192 | Monster Beverage Corp | 6312 | 274 | 0.2 |
| 95 | Moody's Corp | 9711 | 422 | 0.3 |
| 668 | Morgan Stanley | 20534 | 891 | 0.6 |
| 85 | Motorola Solutions Inc | 6882 | 299 | 0.2 |
| 41 | MSCI Inc | 6847 | 297 | 0.2 |
| 232 | Netflix Inc | 25902 | 1124 | 0.8 |
| 422 | Newmont Corp | 7050 | 306 | 0.2 |
| 1003 | Nextera Energy Inc | 23624 | 1025 | 0.7 |
| 650 | Nike Inc | 26148 | 1135 | 0.8 |
| 121 | Norfolk Southern Corp | 9370 | 407 | 0.3 |
| 137 | Nucor Corp | 7314 | 318 | 0.2 |
| 1234 | Nvidia Corp | 76125 | 3304 | 2.2 |
| 487 | Occidental Petroleum Corp | 9953 | 432 | 0.3 |
| 799 | Oracle Corp | 22321 | 969 | 0.7 |
| 32 | O'Reilly Automotive Inc | 8083 | 351 | 0.2 |
| 217 | Otis Worldwide Corp | 5630 | 244 | 0.2 |
| 175 | Paccar Inc | 6022 | 261 | 0.2 |
| 156 | Palo Alto Networks Inc | 7804 | 339 | 0.2 |
| 66 | Parker-Hannifin Corp | 6755 | 293 | 0.2 |
| 167 | Paychex Inc | 6122 | 266 | 0.2 |
| 606 | Paypal Holdings Inc | 15581 | 676 | 0.5 |
| 702 | Pepsico Inc | 37921 | 1646 | 1.1 |
| 801 | Philip Morris International Inc | 26364 | 1144 | 0.8 |
| 252 | Phillips 66 | 7970 | 346 | 0.2 |
| 116 | Pioneer Natural Resources Co | 8468 | 368 | 0.2 |
| 207 | PNC Financial Services Group Inc/The | 10810 | 469 | 0.3 |
| 297 | Progressive Corp/The | 12782 | 555 | 0.4 |
| 471 | Prologis Inc | 19216 | 834 | 0.6 |
| 189 | Prudential Financial Inc | 6251 | 271 | 0.2 |
| 85 | Public Storage | 8139 | 353 | 0.2 |
| 590 | Qualcomm Inc | 24801 | 1077 | 0.7 |
| 317 | Realty Income Corp | 6786 | 295 | 0.2 |
| 74 | Resmed Inc | 5345 | 232 | 0.2 |
| 63 | Rockwell Automation Inc | 5622 | 244 | 0.2 |
| 55 | Roper Technologies Inc | 7381 | 320 | 0.2 |
| 174 | Ross Stores Inc | 6504 | 282 | 0.2 |
| 171 | S&P Global Inc | 20233 | 878 | 0.6 |
| 519 | Salesforce Inc | 27504 | 1194 | 0.8 |
| 718 | Schlumberger NV | 12909 | 560 | 0.4 |
| 159 | Sempra Energy | 8072 | 350 | 0.2 |
| 108 | Servicenow Inc | 15516 | 674 | 0.5 |
| 125 | Sherwin-Williams Co/The | 9338 | 405 | 0.3 |
| 149 | Snowflake Inc | 7381 | 320 | 0.2 |
| 554 | Southern Co/The | 11836 | 514 | 0.3 |
| 580 | Starbucks Corp | 19986 | 868 | 0.6 |

---

**41** 

------

---

| | |
|:---|:---|
| **THE ADVISORS' INNER CIRCLE FUND III** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **KNIGHTS OF COLUMBUS**<br> **U.S. ALL CAP INDEX FUND**<br> **JANUARY 31, 2023**<br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(Unaudited)** |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Shares | Description | Notional <br>Amount ($) | Unrealized <br>Appreciation ($) | Percentage<br>of Basket (%) |
| 79 | Synopsys Inc | 8869 | 385 | 0.3 |
| 263 | Sysco Corp | 6431 | 279 | 0.2 |
| 238 | Target Corp | 12922 | 561 | 0.4 |
| 1398 | Tesla Inc | 76464 | 3319 | 2.2 |
| 473 | Texas Instruments Inc | 26465 | 1149 | 0.8 |
| 597 | Tjx Cos Inc/The | 15424 | 670 | 0.5 |
| 284 | T-Mobile Us Inc | 13399 | 582 | 0.4 |
| 116 | Trane Technologies PLC | 6543 | 284 | 0.2 |
| 27 | Transdigm Group Inc | 6205 | 269 | 0.2 |
| 118 | Travelers Cos Inc/The | 7126 | 309 | 0.2 |
| 681 | Truist Financial Corp | 10615 | 461 | 0.3 |
| 975 | Uber Technologies Inc | 9518 | 413 | 0.3 |
| 321 | Union Pacific Corp | 20709 | 899 | 0.6 |
| 375 | United Parcel Service Inc | 21947 | 953 | 0.6 |
| 768 | US Bancorp | 12078 | 524 | 0.4 |
| 204 | Valero Energy Corp | 9039 | 392 | 0.3 |
| 2099 | Verizon Communications Inc | 27545 | 1196 | 0.8 |
| 496 | VICI Properties Inc | 5350 | 232 | 0.2 |
| 956 | Walt Disney Co/The | 32741 | 1421 | 1 |
| 1174 | Warner Bros Discovery Inc | 5493 | 238 | 0.2 |
| 201 | Waste Management Inc | 9838 | 427 | 0.3 |
| 620 | Williams Cos Inc/The | 6314 | 274 | 0.2 |
| 106 | Workday Inc | 6090 | 264 | 0.2 |
| 278 | Xcel Energy Inc | 6038 | 262 | 0.2 |
| 144 | Yum! Brands Inc | 5952 | 258 | 0.2 |
| 244 | Zoetis Inc | 12771 | 554 | 0.4 |
|  |  | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3418986 | $148411 | 100.0% |

---

Amounts designated as "—" are $0 or have been rounded to $0.

See "Glossary for abbreviations".

KOC-QH-008-0700

**42** 

------

---

| | |
|:---|:---|
| **THE ADVISORS' INNER CIRCLE FUND III** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **KNIGHTS OF COLUMBUS**<br> **REAL ESTATE FUND**<br> **JANUARY 31, 2023**<br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(Unaudited)** |

---

---

| | | |
|:---|:---|:---|
|  &nbsp;&nbsp;&nbsp;&nbsp;**SCHEDULE OF INVESTMENTS**<br> &nbsp;&nbsp;&nbsp;&nbsp;**COMMON STOCK — 90.2%#** | &nbsp;&nbsp;&nbsp;&nbsp;**SCHEDULE OF INVESTMENTS**<br> &nbsp;&nbsp;&nbsp;&nbsp;**COMMON STOCK — 90.2%#** | &nbsp;&nbsp;&nbsp;&nbsp;**SCHEDULE OF INVESTMENTS**<br> &nbsp;&nbsp;&nbsp;&nbsp;**COMMON STOCK — 90.2%#** |
|  | **Shares** | **Value** |
|  **FINANCIALS — 3.8%** |  |  |
| &nbsp;&nbsp; Ellington Financial ‡ | 389039 | $5341506 |
|  **REAL ESTATE — 86.4%** |  |  |
| &nbsp;&nbsp; Acadia Realty Trust ‡ | 260169 | 4040425 |
| &nbsp;&nbsp; Alexandria Real Estate Equities ‡ | 39778 | 6393916 |
| &nbsp;&nbsp; American Homes 4 Rent, Cl A ‡ | 164206 | 5630624 |
| &nbsp;&nbsp; Americold Realty Trust ‡ | 132193 | 4152182 |
| &nbsp;&nbsp; Broadstone Net Lease, Cl A ‡ | 285628 | 5172723 |
| &nbsp;&nbsp; Camden Property Trust ‡ | 45586 | 5616651 |
| &nbsp;&nbsp; CubeSmart ‡ | 159550 | 7305794 |
| &nbsp;&nbsp; DigitalBridge Group | 510142 | 7550102 |
| &nbsp;&nbsp; Easterly Government Properties, Cl A ‡ | 208665 | 3388720 |
| &nbsp;&nbsp; Elme Communities ‡ | 91684 | 1760333 |
| &nbsp;&nbsp; Equity LifeStyle Properties ‡ | 76736 | 5508110 |
| &nbsp;&nbsp; Independence Realty Trust ‡ | 360712 | 6792207 |
| &nbsp;&nbsp; Kilroy Realty ‡ | 45717 | 1876226 |
| &nbsp;&nbsp; Lamar Advertising, Cl A ‡ | 32315 | 3442840 |
| &nbsp;&nbsp; Life Storage ‡ | 22597 | 2441380 |
| &nbsp;&nbsp; National Storage Affiliates Trust ‡ | 114817 | 4684534 |
| &nbsp;&nbsp; Prologis ‡ | 46035 | 5951405 |
| &nbsp;&nbsp; Retail Opportunity Investments ‡ | 273662 | 4332069 |
| &nbsp;&nbsp; Rexford Industrial Realty ‡ | 112105 | 7115304 |
| &nbsp;&nbsp; SBA Communications, Cl A ‡ | 10936 | 3253788 |
| &nbsp;&nbsp; STORE Capital ‡ | 52000 | 1674920 |
| &nbsp;&nbsp; Sun Communities ‡ | 49634 | 7785589 |
| &nbsp;&nbsp; UDR ‡ | 151538 | 6454003 |
| &nbsp;&nbsp; Ventas ‡ | 89652 | 4644870 |
| &nbsp;&nbsp; Veris Residential \*‡ | 120177 | 2079062 |
| &nbsp;&nbsp; Welltower ‡ | 18612 | 1396644 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;120444421 |
| &nbsp;&nbsp; Total Common Stock<br>(Cost $141,174,882) |  | 125785927 |
| &nbsp;&nbsp; Total Investments in Securities— 90.2%<br>(Cost $141,174,882) | &nbsp;&nbsp; Total Investments in Securities— 90.2%<br>(Cost $141,174,882) | $125785927 |

---

Percentages are based on Net Assets of $139,448,233.

\* Non-income producing security.

‡ Real Estate Investment Trust.

# More narrow industries are utilized for compliance purposes, whereas broad sectors are utilized for reporting purposes.

See "Glossary" for abbreviations.

KOC-QH-009-0700

**43** 

------

---

| | |
|:---|:---|
| **THE ADVISORS' INNER CIRCLE FUND III** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **KNIGHTS OF COLUMBUS** <br> **INTERNATIONAL EQUITY FUND** <br> **JANUARY 31, 2023** <br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(Unaudited)**  |

---

---

| | | |
|:---|:---|:---|
|  &nbsp;&nbsp;&nbsp;&nbsp;**SCHEDULE OF INVESTMENTS**<br> &nbsp;&nbsp;&nbsp;&nbsp;**COMMON STOCK — 96.0%** | | |
|  | <br> **Shares** | <br> **Value** |
|  **AUSTRALIA — 4.7%** |  |  |
| &nbsp;&nbsp; BHP Group | 81936 | $2869578 |
| &nbsp;&nbsp; Macquarie Group | 17804 | 2375218 |
| &nbsp;&nbsp; Woodside Energy Group | 70806 | 1833443 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7078239 |
|  **BRAZIL — 1.7%** |  |  |
| &nbsp;&nbsp; MercadoLibre \* | 830 | 980803 |
| &nbsp;&nbsp; Suzano | 177000 | 1619614 |
|  |  | 2600417 |
|  **CANADA — 6.9%** |  |  |
| &nbsp;&nbsp; Bank of Montreal | 24193 | 2434664 |
| &nbsp;&nbsp; Canadian National Railway | 19500 | 2321153 |
| &nbsp;&nbsp; Canadian Natural Resources | 28400 | 1743210 |
| &nbsp;&nbsp; Magna International | 27679 | 1796935 |
| &nbsp;&nbsp; Stantec | 40000 | 2085153 |
|  |  | 10381115 |
|  **CHINA — 7.2%** |  |  |
| &nbsp;&nbsp; Alibaba Group Holding \* | 106000 | 1457359 |
| &nbsp;&nbsp; Baidu, Cl A \* | 41400 | 695935 |
| &nbsp;&nbsp; China Mengniu Dairy | 330000 | 1591878 |
| &nbsp;&nbsp; CSPC Pharmaceutical Group | 1381002 | 1574623 |
| &nbsp;&nbsp; Meituan, Cl B \* | 4060 | 90765 |
| &nbsp;&nbsp; NetEase | 35215 | 624789 |
| &nbsp;&nbsp; People's Insurance Group of China | 4160000 | 1402440 |
| &nbsp;&nbsp; Pinduoduo ADR \* | 14300 | 1401114 |
| &nbsp;&nbsp; Tencent Holdings | 40600 | 1978394 |
|  |  | 10817297 |
|  **COLOMBIA — 0.3%** |  |  |
| &nbsp;&nbsp; Interconexion Electrica ESP | 116500 | 476827 |
|  **DENMARK — 0.9%** |  |  |
| &nbsp;&nbsp; Genmab \* | 3520 | 1379477 |
|  **FRANCE — 13.8%** |  |  |
| &nbsp;&nbsp; BNP Paribas | 33700 | 2314569 |
| &nbsp;&nbsp; Dassault Systemes | 49300 | 1833504 |
| &nbsp;&nbsp; Edenred | 28500 | 1552374 |
| &nbsp;&nbsp; Ipsen | 16886 | 1773614 |
| &nbsp;&nbsp; L'Oreal | 7130 | 2944048 |
| &nbsp;&nbsp; LVMH Moet Hennessy Louis Vuitton | 4320 | 3771239 |
| &nbsp;&nbsp; Pernod Ricard | 11500 | 2380836 |
| &nbsp;&nbsp; TotalEnergies | 34000 | 2101898 |
| &nbsp;&nbsp; Vinci | 19740 | 2230405 |
|  |  | 20902487 |
|  **GERMANY — 4.5%** |  |  |
| &nbsp;&nbsp; Daimler Truck Holding \* | 46086 | 1548651 |
| &nbsp;&nbsp; Mercedes-Benz Group | 33752 | 2511544 |
| &nbsp;&nbsp; Siemens | 17400 | 2717961 |
|  |  | 6778156 |

---

---

| | | |
|:---|:---|:---|
|  **COMMON STOCK — continued** | | |
|  | <br> **Shares** | <br> **Value** |
|  **HONG KONG — 1.1%** |  |  |
| &nbsp;&nbsp; CK Asset Holdings | 268000 | $1713461 |
|  **INDIA — 2.5%** |  |  |
| &nbsp;&nbsp; ICICI Bank | 162000 | 1657450 |
| &nbsp;&nbsp; Infosys | 112000 | 2109554 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3767004 |
|  **INDONESIA — 1.2%** |  |  |
| &nbsp;&nbsp; Bank Negara Indonesia Persero | 2970000 | 1820583 |
|  **JAPAN — 15.1%** |  |  |
| &nbsp;&nbsp; Fuji Electric | 40030 | 1620334 |
| &nbsp;&nbsp; Fujitsu | 12700 | 1808219 |
| &nbsp;&nbsp; Hoya | 21260 | 2338003 |
| &nbsp;&nbsp; ITOCHU | 75700 | 2446763 |
| &nbsp;&nbsp; Komatsu | 69000 | 1695638 |
| &nbsp;&nbsp; Mitsubishi UFJ Financial Group | 256200 | 1876635 |
| &nbsp;&nbsp; Nintendo | 51400 | 2228591 |
| &nbsp;&nbsp; Nippon Telegraph & Telephone | 80820 | 2423430 |
| &nbsp;&nbsp; Ono Pharmaceutical | 75000 | 1627402 |
| &nbsp;&nbsp; Shin-Etsu Chemical | 16500 | 2432482 |
| &nbsp;&nbsp; Tokio Marine Holdings | 108600 | 2274596 |
|  |  | 22772093 |
|  **LUXEMBOURG — 1.3%** |  |  |
| &nbsp;&nbsp; ArcelorMittal | 61432 | 1905793 |
|  **MALAYSIA — 0.8%** |  |  |
| &nbsp;&nbsp; Kuala Lumpur Kepong | 255000 | 1282834 |
|  **MEXICO — 0.9%** |  |  |
| &nbsp;&nbsp; Cemex \* | 2609100 | 1388342 |
|  **NETHERLANDS — 3.5%** |  |  |
| &nbsp;&nbsp; ASML Holding | 4550 | 3010484 |
| &nbsp;&nbsp; Koninklijke Ahold Delhaize | 73871 | 2204817 |
|  |  | 5215301 |
|  **NORWAY — 0.8%** |  |  |
| &nbsp;&nbsp; Equinor | 41950 | 1278496 |
|  **SINGAPORE — 2.7%** |  |  |
| &nbsp;&nbsp; Capitaland Investment | 575000 | 1742026 |
| &nbsp;&nbsp; United Overseas Bank | 104440 | 2373988 |
|  |  | 4116014 |
|  **SOUTH AFRICA — 1.1%** |  |  |
| &nbsp;&nbsp; MTN Group | 197541 | 1672110 |
|  **SOUTH KOREA — 1.6%** |  |  |
| &nbsp;&nbsp; KB Financial Group | 51771 | 2359329 |
|  **SPAIN — 2.3%** |  |  |
| &nbsp;&nbsp; CaixaBank | 445800 | 1977989 |
| &nbsp;&nbsp; Industria de Diseno Textil | 48000 | 1498593 |
|  |  | 3476582 |

---

**44** 

------

---

| | |
|:---|:---|
| **THE ADVISORS' INNER CIRCLE FUND III** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **KNIGHTS OF COLUMBUS**<br> **INTERNATIONAL EQUITY FUND**<br> **JANUARY 31, 2023**<br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(Unaudited)** |

---

---

| | | |
|:---|:---|:---|
|  **COMMON STOCK — continued** | **COMMON STOCK — continued** | **COMMON STOCK — continued** |
|  | **Shares** | **Value** |
|  **SWEDEN — 1.4%** |  |  |
| &nbsp;&nbsp; Boliden | 46530 | $2088128 |
|  **SWITZERLAND — 3.7%** |  |  |
| &nbsp;&nbsp; Nestle | 30730 | 3749338 |
| &nbsp;&nbsp; Sonova Holding | 7380 | 1845530 |
|  |  | 5594868 |
|  **TAIWAN — 2.7%** |  |  |
| &nbsp;&nbsp; Taiwan Semiconductor |  |  |
| &nbsp;&nbsp; Manufacturing | 230160 | 4061587 |
|  **THAILAND — 0.9%** |  |  |
| &nbsp;&nbsp; PTT Exploration & Production |  |  |
| &nbsp;&nbsp; PCL | 270000 | 1409420 |
|  **UNITED KINGDOM — 10.2%** |  |  |
| &nbsp;&nbsp; 3i Group PLC | 130000 | 2536263 |
| &nbsp;&nbsp; Compass Group PLC | 92000 | 2197695 |
| &nbsp;&nbsp; Legal & General Group PLC | 605385 | 1905109 |
| &nbsp;&nbsp; Linde PLC | 4283 | 1417416 |
| &nbsp;&nbsp; Lloyds Banking Group PLC | 3825000 | 2489289 |
| &nbsp;&nbsp; SSE PLC | 95000 | 2027741 |
| &nbsp;&nbsp; Unilever PLC | 56250 | 2863071 |
|  |  | 15436584 |
|  **UNITED STATES — 2.2%** |  |  |
| &nbsp;&nbsp; Amgen | 6470 | 1633028 |
| &nbsp;&nbsp; Waste Connections | 13000 | 1725061 |
|  |  | 3358089 |
| &nbsp;&nbsp; Total Common Stock<br>(Cost $134,695,211) |  | 145130633 |
| &nbsp;&nbsp; Total Investments in Securities— 96.0%<br>(Cost $134,695,211) | &nbsp;&nbsp; Total Investments in Securities— 96.0%<br>(Cost $134,695,211) | &nbsp;&nbsp;&nbsp;&nbsp;$145130633 |

---

Percentages are based on Net Assets of $151,231,147.

\* Non-income producing security.

See "Glossary" for abbreviations.

KOC-QH-006-1600

**45** 

------

---

| | |
|:---|:---|
| **THE ADVISOR'S INNER CIRCLE FUND III** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br> **KNIGHTS OF COLUMBUS FUNDS**<br> **JANUARY 31, 2023**<br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(Unaudited)** |

---

Glossary: (abbreviations which may be used in the preceding Schedules of Investments)

**Fund Abbreviations** 

ADR — American Depositary Receipt

Cl — Class

CLO — Collateralized Loan Obligation

DAC — Designated Activity Company

ETF — Exchange Traded Fund

FHLMC — Federal Home Loan Mortgage Corporation

FNMA — Federal National Mortgage Association

FREMF — Freddie Mac Multi-Family

GNMA — Government National Mortgage Association

ICE — Intercontinental Exchange

LIBOR — London Interbank Offered Rate

LP — Limited Partnership

MSCI — Morgan Stanley Capital International

MTN — Medium Term Note

PCL — Public Company Limited

PLC — Public Limited Company

RB — Revenue Bond

REMIC — Real Estate Mortgage Investment Conduit

S&P — Standard & Poor's

Ser — Series

SOFR — Secured Overnight Financing Rate

SPDR— Standard & Poor's Depositary Receipt

TSFR — Term Secured Overnight Financing Rate

**Currency Abbreviation** 

USD — United States Dollar

**46**

## 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:** Knights of Columbus Small Cap Equity Fund

- **b. EDGAR series identifier (if any):** S000048266

- **c. LEI of Series:** 549300EE5HIH37YCEY70

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

- **a. Date of fiscal year-end:** 2023-10-31

- **b. Date as of which information is reported:** 2023-01-31

**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:** $131346691.07

**Total Liabilities:** $125037.77

**Net Assets:** $131221653.30

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000158713 | 8.19%                | -5.24%               | 3.20%                |
| Class ID C000152513 | 8.15%                | -5.28%               | 3.27%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $301304.14               | $9747450.33                                |
| Month 2  | $-48598.95               | $-6811343.39                               |
| Month 3  | $326773.66               | $3530585.64                                |

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| CASELLA WASTE SYSTEMS, INC.                     | CASELLA WASTE SYSTEMS INC-A COMMON STOCK  | CUSIP: 147448104<br>LEI: 8EU0XUFVJ48U37IIDH51 | Long             | EC               |  | US        |     11878 | NS      | $951665.36    | 0.73%             |  |  |  | No            |                  1 | On Loan: No      |
| INTELLIA THERAPEUTICS, INC.                     | INTELLIA THERAPEUTICS INC COMMON STOCK    | CUSIP: 45826J105<br>LEI: 5493002T5BCPE5DZC723 | Long             | EC               |  | US        |      7611 | NS      | $323010.84    | 0.25%             |  |  |  | No            |                  1 | On Loan: No      |
| VERICEL CORPORATION                             | VERICEL CORP COMMON STOCK                 | CUSIP: 92346J108<br>LEI: 54930076YM3PLTDR4B91 | Long             | EC               |  | US        |     48148 | NS      | $1322625.56   | 1.01%             |  |  |  | No            |                  1 | On Loan: No      |
| TRITON INTERNATIONAL LIMITED                    | TRITON INTERNATIONAL LTD COMMON STOCK     | CUSIP: G9078F107<br>LEI: N/A                  | Long             | EC               |  | US        |     21495 | NS      | $1518406.80   | 1.16%             |  |  |  | No            |                  1 | On Loan: No      |
| MACOM TECHNOLOGY SOLUTIONS HOLDINGS, INC.       | MACOM TECHNOLOGY SOLUTIONS H COMMON STOCK | CUSIP: 55405Y100<br>LEI: N/A                  | Long             | EC               |  | US        |     12296 | NS      | $824077.92    | 0.63%             |  |  |  | No            |                  1 | On Loan: No      |
| MAGNOLIA OIL & GAS CORPORATION                  | MAGNOLIA OIL & GAS CORP - A COMMON STOCK  | CUSIP: 559663109<br>LEI: N/A                  | Long             | EC               |  | US        |    103190 | NS      | $2436315.90   | 1.86%             |  |  |  | No            |                  1 | On Loan: No      |
| MERCHANTS BANCORP                               | MERCHANTS BANCORP/IN COMMON STOCK         | CUSIP: 58844R108<br>LEI: 54930008Y0GPVLF81889 | Long             | EC               |  | US        |     24974 | NS      | $718516.37    | 0.55%             |  |  |  | No            |                  1 | On Loan: No      |
| LHC GROUP, INC.                                 | LHC GROUP INC COMMON STOCK                | CUSIP: 50187A107<br>LEI: 5299009NPLWAMRQYZX73 | Long             | EC               |  | US        |      7131 | NS      | $1130976.60   | 0.86%             |  |  |  | No            |                  1 | On Loan: No      |
| EMCOR GROUP, INC.                               | EMCOR GROUP INC COMMON STOCK              | CUSIP: 29084Q100<br>LEI: 529900X0SQJB2J7YDU43 | Long             | EC               |  | US        |      1863 | NS      | $276189.75    | 0.21%             |  |  |  | No            |                  1 | On Loan: No      |
| YETI HOLDINGS, INC.                             | YETI HOLDINGS INC COMMON STOCK            | CUSIP: 98585X104<br>LEI: 549300DSQICIGNT5GO63 | Long             | EC               |  | US        |     10572 | NS      | $473202.72    | 0.36%             |  |  |  | No            |                  1 | On Loan: No      |
| THE SHYFT GROUP, INC.                           | SHYFT GROUP INC/THE COMMON STOCK          | CUSIP: 825698103<br>LEI: 549300YY0TB51BGRV994 | Long             | EC               |  | US        |     31844 | NS      | $1060086.76   | 0.81%             |  |  |  | No            |                  1 | On Loan: No      |
| OCEANFIRST FINANCIAL CORP.                      | OCEANFIRST FINANCIAL CORP COMMON STOCK    | CUSIP: 675234108<br>LEI: N/A                  | Long             | EC               |  | US        |     49675 | NS      | $1188226.00   | 0.91%             |  |  |  | No            |                  1 | On Loan: No      |
| ATKORE INC                                      | Atkore Inc COMMON STOCK                   | CUSIP: 047649108<br>LEI: 52990002TI38AM4RPV48 | Long             | EC               |  | US        |      7566 | NS      | $985471.50    | 0.75%             |  |  |  | No            |                  1 | On Loan: No      |
| MATADOR RESOURCES COMPANY                       | MATADOR RESOURCES CO COMMON STOCK         | CUSIP: 576485205<br>LEI: 549300CI3Q2UUK5R4G79 | Long             | EC               |  | US        |     15496 | NS      | $1025215.36   | 0.78%             |  |  |  | No            |                  1 | On Loan: No      |
| Sterling Infrastructure, Inc.                   | STERLING INFRASTRUCTURE INC COMMON STOCK  | CUSIP: 859241101<br>LEI: 549300RZIK6K1215XU51 | Long             | EC               |  | US        |     37012 | NS      | $1346866.68   | 1.03%             |  |  |  | No            |                  1 | On Loan: No      |
| SUMMIT MATERIALS, INC.                          | SUMMIT MATERIALS INC -CL A COMMON STOCK   | CUSIP: 86614U100<br>LEI: 549300XNOLX5GIOSO108 | Long             | EC               |  | US        |     73777 | NS      | $2424312.12   | 1.85%             |  |  |  | No            |                  1 | On Loan: No      |
| TECHTARGET, INC.                                | TECHTARGET COMMON STOCK                   | CUSIP: 87874R100<br>LEI: 529900YQA5JL2H2VMB84 | Long             | EC               |  | US        |     14151 | NS      | $700899.03    | 0.53%             |  |  |  | No            |                  1 | On Loan: No      |
| METROPOLITAN BANK HOLDING CORP.                 | METROPOLITAN BANK HOLDING CO COMMON STOCK | CUSIP: 591774104<br>LEI: N/A                  | Long             | EC               |  | US        |     12611 | NS      | $748841.18    | 0.57%             |  |  |  | No            |                  1 | On Loan: No      |
| PLYMOUTH INDUSTRIAL REIT, INC.                  | PLYMOUTH INDUSTRIAL REIT INC REIT         | CUSIP: 729640102<br>LEI: N/A                  | Long             | EC               |  | US        |     43760 | NS      | $979348.80    | 0.75%             |  |  |  | No            |                  1 | On Loan: No      |
| Primo Water Corporation                         | PRIMO WATER CORP COMMON STOCK             | CUSIP: 74167P108<br>LEI: N/A                  | Long             | EC               |  | US        |     70434 | NS      | $1102292.10   | 0.84%             |  |  |  | No            |                  1 | On Loan: No      |
| SPROUTS FARMERS MARKET, INC.                    | SPROUTS FARMERS MARKET INC COMMON STOCK   | CUSIP: 85208M102<br>LEI: 529900P8F4G77Q52XE24 | Long             | EC               |  | US        |     66873 | NS      | $2136592.35   | 1.63%             |  |  |  | No            |                  1 | On Loan: No      |
| COMFORT SYSTEMS USA, INC.                       | COMFORT SYSTEMS USA INC COMMON STOCK      | CUSIP: 199908104<br>LEI: 5299009DT1ZA5HTU6R38 | Long             | EC               |  | US        |      9653 | NS      | $1168399.12   | 0.89%             |  |  |  | No            |                  1 | On Loan: No      |
| BLOOMIN' BRANDS, INC.                           | BLOOMIN' BRANDS INC COMMON STOCK          | CUSIP: 094235108<br>LEI: E1UJ2GO305B5FXGV7N04 | Long             | EC               |  | US        |     35386 | NS      | $858110.50    | 0.65%             |  |  |  | No            |                  1 | On Loan: No      |
| INTEGER HOLDINGS CORPORATION                    | INTEGER HOLDINGS CORP COMMON STOCK        | CUSIP: 45826H109<br>LEI: 549300SUD2ED5XG6X569 | Long             | EC               |  | US        |     10936 | NS      | $719698.16    | 0.55%             |  |  |  | No            |                  1 | On Loan: No      |
| MCGRATH RENTCORP                                | MCGRATH RENTCORP COMMON STOCK             | CUSIP: 580589109<br>LEI: 254900EUH6IPWFQ83445 | Long             | EC               |  | US        |     11914 | NS      | $1185919.56   | 0.90%             |  |  |  | No            |                  1 | On Loan: No      |
| CONNECTONE BANCORP, INC.                        | CONNECTONE BANCORP INC COMMON STOCK       | CUSIP: 20786W107<br>LEI: 549300E2M5ZYAZKUK134 | Long             | EC               |  | US        |     38085 | NS      | $905280.45    | 0.69%             |  |  |  | No            |                  1 | On Loan: No      |
| EDITAS MEDICINE, INC.                           | EDITAS MEDICINE INC COMMON STOCK          | CUSIP: 28106W103<br>LEI: 5299000AON4Q9NT2JE42 | Long             | EC               |  | US        |     10504 | NS      | $103884.56    | 0.08%             |  |  |  | No            |                  1 | On Loan: No      |
| SHOCKWAVE MEDICAL, INC.                         | SHOCKWAVE MEDICAL INC COMMON STOCK        | CUSIP: 82489T104<br>LEI: 549300LDXO56IC5Y1538 | Long             | EC               |  | US        |      3670 | NS      | $689703.10    | 0.53%             |  |  |  | No            |                  1 | On Loan: No      |
| CIVITAS RESOURCES, INC.                         | CIVITAS RESOURCES INC COMMON STOCK        | CUSIP: 17888H103<br>LEI: IIVIHPH28S64K95M2381 | Long             | EC               |  | US        |     20960 | NS      | $1394888.00   | 1.06%             |  |  |  | No            |                  1 | On Loan: No      |
| SCIENCE APPLICATIONS INTERNATIONAL CORPORATION  | SCIENCE APPLICATIONS INTE COMMON STOCK    | CUSIP: 808625107<br>LEI: 549300LZPNZIXQGZPZ48 | Long             | EC               |  | US        |      8540 | NS      | $886281.20    | 0.68%             |  |  |  | No            |                  1 | On Loan: No      |
| UFP TECHNOLOGIES, INC.                          | UFP TECHNOLOGIES INC COMMON STOCK         | CUSIP: 902673102<br>LEI: 549300RJ8LY41HS70C91 | Long             | EC               |  | US        |      3223 | NS      | $366551.79    | 0.28%             |  |  |  | No            |                  1 | On Loan: No      |
| VIAVI SOLUTIONS INC.                            | VIAVI SOLUTIONS INC COMMON STOCK          | CUSIP: 925550105<br>LEI: 5493006K3E3N1QOBF092 | Long             | EC               |  | US        |     68494 | NS      | $773982.20    | 0.59%             |  |  |  | No            |                  1 | On Loan: No      |
| RYMAN HOSPITALITY PROPERTIES, INC.              | RYMAN HOSPITALITY PROPERTIES REIT         | CUSIP: 78377T107<br>LEI: 529900GCCWW9SRMPJR11 | Long             | EC               |  | US        |      9490 | NS      | $881526.10    | 0.67%             |  |  |  | No            |                  1 | On Loan: No      |
| PERMIAN RESOURCES CORPORATION                   | PERMIAN RESOURCES CORP COMMON STOCK       | CUSIP: 71424F105<br>LEI: 529900NXUJPOKU7OJ511 | Long             | EC               |  | US        |     93377 | NS      | $1015007.99   | 0.77%             |  |  |  | No            |                  1 | On Loan: No      |
| GUARDANT HEALTH, INC.                           | GUARDANT HEALTH INC COMMON STOCK          | CUSIP: 40131M109<br>LEI: 254900M8C3E5VC8BR186 | Long             | EC               |  | US        |      6189 | NS      | $194520.27    | 0.15%             |  |  |  | No            |                  1 | On Loan: No      |
| UMH PROPERTIES, INC.                            | UMH PROPERTIES INC REIT                   | CUSIP: 903002103<br>LEI: 529900OM5K3PJ11F0Q09 | Long             | EC               |  | US        |     98862 | NS      | $1771607.04   | 1.35%             |  |  |  | No            |                  1 | On Loan: No      |
| SILICON LABORATORIES INC.                       | SILICON LABORATORIES INC COMMON STOCK     | CUSIP: 826919102<br>LEI: 4PRDF8Q9TDHRVZKZSZ47 | Long             | EC               |  | US        |      6207 | NS      | $973940.37    | 0.74%             |  |  |  | No            |                  1 | On Loan: No      |
| HERC HOLDINGS INC.                              | HERC HOLDINGS INC COMMON STOCK            | CUSIP: 42704L104<br>LEI: 549300TP80QLITMSBP82 | Long             | EC               |  | US        |      5016 | NS      | $779085.12    | 0.59%             |  |  |  | No            |                  1 | On Loan: No      |
| Intra-Cellular Therapies Inc                    | INTRA-CELLULAR THERAPIES INC COMMON STOCK | CUSIP: 46116X101<br>LEI: 5299002U2KGF193IJA20 | Long             | EC               |  | US        |      9789 | NS      | $469088.88    | 0.36%             |  |  |  | No            |                  1 | On Loan: No      |
| GREAT LAKES DREDGE & DOCK CORPORATION           | GREAT LAKES DREDGE & DOCK CO COMMON STOCK | CUSIP: 390607109<br>LEI: 549300H65E3MZ1CX0P05 | Long             | EC               |  | US        |     68299 | NS      | $469897.12    | 0.36%             |  |  |  | No            |                  1 | On Loan: No      |
| FABRINET                                        | FABRINET COMMON STOCK                     | CUSIP: G3323L100<br>LEI: 5493004TETZ6IYF7CV44 | Long             | EC               |  | US        |      2739 | NS      | $360616.74    | 0.27%             |  |  |  | No            |                  1 | On Loan: No      |
| MITEK SYSTEMS, INC.                             | MITEK SYSTEMS INC COMMON STOCK            | CUSIP: 606710200<br>LEI: 549300ABZAQ3R25XG118 | Long             | EC               |  | US        |     57402 | NS      | $565983.72    | 0.43%             |  |  |  | No            |                  1 | On Loan: No      |
| WINTRUST FINANCIAL CORPORATION                  | WINTRUST FINANCIAL CORP COMMON STOCK      | CUSIP: 97650W108<br>LEI: Q774KI4AW80FHFW33O61 | Long             | EC               |  | US        |     13354 | NS      | $1221490.38   | 0.93%             |  |  |  | No            |                  1 | On Loan: No      |
| ATI Inc.                                        | ATI Inc COMMON STOCK                      | CUSIP: 01741R102<br>LEI: ZW1LRE7C3H17O2ZN9B45 | Long             | EC               |  | US        |     33109 | NS      | $1204836.51   | 0.92%             |  |  |  | No            |                  1 | On Loan: No      |
| ZUMIEZ INC.                                     | ZUMIEZ INC COMMON STOCK                   | CUSIP: 989817101<br>LEI: 549300J0PDF58P6HZD25 | Long             | EC               |  | US        |     19371 | NS      | $500352.93    | 0.38%             |  |  |  | No            |                  1 | On Loan: No      |
| CLEARWAY ENERGY, INC.                           | CLEARWAY ENERGY INC-C COMMON STOCK        | CUSIP: 18539C204<br>LEI: 549300LHAZ9HA9G3XC48 | Long             | EC               |  | US        |     61724 | NS      | $2085653.96   | 1.59%             |  |  |  | No            |                  1 | On Loan: No      |
| BOYD GAMING CORPORATION                         | BOYD GAMING CORP COMMON STOCK             | CUSIP: 103304101<br>LEI: 254900787YGRYS2A1Z35 | Long             | EC               |  | US        |     21231 | NS      | $1322903.61   | 1.01%             |  |  |  | No            |                  1 | On Loan: No      |
| HELIOS TECHNOLOGIES, INC.                       | HELIOS TECHNOLOGIES INC COMMON STOCK      | CUSIP: 42328H109<br>LEI: 5493000BCJSMIDRNTI78 | Long             | EC               |  | US        |     12624 | NS      | $833184.00    | 0.63%             |  |  |  | No            |                  1 | On Loan: No      |
| TEXAS ROADHOUSE, INC.                           | TEXAS ROADHOUSE INC COMMON STOCK          | CUSIP: 882681109<br>LEI: 5299002Y1CNRPDGXTQ75 | Long             | EC               |  | US        |      8595 | NS      | $863195.85    | 0.66%             |  |  |  | No            |                  1 | On Loan: No      |
| GREIF, INC.                                     | GREIF INC-CL A COMMON STOCK               | CUSIP: 397624107<br>LEI: 54930070FVGKR0Z1FI24 | Long             | EC               |  | US        |     17898 | NS      | $1278454.14   | 0.97%             |  |  |  | No            |                  1 | On Loan: No      |
| H&E EQUIPMENT SERVICES, INC.                    | H&E EQUIPMENT SERVICES INC COMMON STOCK   | CUSIP: 404030108<br>LEI: 254900KVLRCDMQRYY541 | Long             | EC               |  | US        |     25859 | NS      | $1315964.51   | 1.00%             |  |  |  | No            |                  1 | On Loan: No      |
| ASGN INCORPORATED                               | ASGN INC COMMON STOCK                     | CUSIP: 00191U102<br>LEI: LZBNYYCBUKY537072438 | Long             | EC               |  | US        |     10200 | NS      | $927690.00    | 0.71%             |  |  |  | No            |                  1 | On Loan: No      |
| ESSENT GROUP LTD                                | ESSENT GROUP LTD COMMON STOCK             | CUSIP: G3198U102<br>LEI: 254900QUO860OUT6ZF83 | Long             | EC               |  | US        |     19757 | NS      | $869900.71    | 0.66%             |  |  |  | No            |                  1 | On Loan: No      |
| QCR HOLDINGS, INC.                              | QCR HOLDINGS INC COMMON STOCK             | CUSIP: 74727A104<br>LEI: 549300MWKWM7KWJVQO33 | Long             | EC               |  | US        |     24503 | NS      | $1287877.68   | 0.98%             |  |  |  | No            |                  1 | On Loan: No      |
| BELDEN INC.                                     | BELDEN INC COMMON STOCK                   | CUSIP: 077454106<br>LEI: 68BKYO1JC791TTJHUE82 | Long             | EC               |  | US        |      9938 | NS      | $805872.42    | 0.61%             |  |  |  | No            |                  1 | On Loan: No      |
| HANCOCK WHITNEY CORPORATION                     | HANCOCK WHITNEY CORP COMMON STOCK         | CUSIP: 410120109<br>LEI: 549300GRNBWY8HIICT41 | Long             | EC               |  | US        |     26411 | NS      | $1359638.28   | 1.04%             |  |  |  | No            |                  1 | On Loan: No      |
| SUNPOWER CORPORATION                            | SUNPOWER CORP COMMON STOCK                | CUSIP: 867652406<br>LEI: 549300TXO070764WUH65 | Long             | EC               |  | US        |     34841 | NS      | $607278.63    | 0.46%             |  |  |  | No            |                  1 | On Loan: No      |
| N/A                                             | BROWN BROTHERS HARRIMAN SWEEP INTEREST    | CUSIP: N/A<br>LEI: N/A                        | Long             | STIV             |  | US        |   5094224 | PA      | $5094224.09   | 3.88%             |  |  |  | No            |                  2 | On Loan: No      |
| MYR GROUP INC.                                  | MYR GROUP INC/DELAWARE COMMON STOCK       | CUSIP: 55405W104<br>LEI: 529900G1IMMZHOQ17I54 | Long             | EC               |  | US        |     20586 | NS      | $2039249.16   | 1.55%             |  |  |  | No            |                  1 | On Loan: No      |
| OLD SECOND BANCORP, INC.                        | OLD SECOND BANCORP INC COMMON STOCK       | CUSIP: 680277100<br>LEI: 549300XVJC1MPUT81C04 | Long             | EC               |  | US        |     74466 | NS      | $1265177.34   | 0.96%             |  |  |  | No            |                  1 | On Loan: No      |
| Inmode Ltd                                      | INMODE LTD COMMON STOCK                   | CUSIP: M5425M103<br>LEI: 984500DD95A35E9BD358 | Long             | EC               |  | US        |     32886 | NS      | $1152654.30   | 0.88%             |  |  |  | No            |                  1 | On Loan: No      |
| POPULAR, INC.                                   | POPULAR INC COMMON STOCK                  | CUSIP: 733174700<br>LEI: 5493008CARDZMVQ3LO89 | Long             | EC               |  | US        |     14772 | NS      | $1013950.08   | 0.77%             |  |  |  | No            |                  1 | On Loan: No      |
| CORPORATE OFFICE PROPERTIES TRUST               | CORPORATE OFFICE PROPERTIES REIT          | CUSIP: 22002T108<br>LEI: YY1J47X6LF9TYY8JY420 | Long             | EC               |  | US        |     44617 | NS      | $1252399.19   | 0.95%             |  |  |  | No            |                  1 | On Loan: No      |
| HIBBETT, INC.                                   | HIBBETT INC COMMON STOCK                  | CUSIP: 428567101<br>LEI: 529900RD6P643J1CZM55 | Long             | EC               |  | US        |     10849 | NS      | $719939.64    | 0.55%             |  |  |  | No            |                  1 | On Loan: No      |
| ALTRA INDUSTRIAL MOTION CORP.                   | ALTRA INDUSTRIAL MOTION CORP COMMON STOCK | CUSIP: 02208R106<br>LEI: NQ0NIXPGW4YKG4MWM571 | Long             | EC               |  | US        |     19070 | NS      | $1164604.90   | 0.89%             |  |  |  | No            |                  1 | On Loan: No      |
| ICU MEDICAL, INC.                               | ICU MEDICAL INC COMMON STOCK              | CUSIP: 44930G107<br>LEI: 5493003NRW7LS2QZRH60 | Long             | EC               |  | US        |      4388 | NS      | $847893.24    | 0.65%             |  |  |  | No            |                  1 | On Loan: No      |
| HOSTESS BRANDS, INC.                            | HOSTESS BRANDS INC COMMON STOCK           | CUSIP: 44109J106<br>LEI: N/A                  | Long             | EC               |  | US        |     28611 | NS      | $661772.43    | 0.50%             |  |  |  | No            |                  1 | On Loan: No      |
| NEXTGEN HEALTHCARE, INC.                        | NEXTGEN HEALTHCARE INC COMMON STOCK       | CUSIP: 65343C102<br>LEI: 549300N5HIPS1URF0F20 | Long             | EC               |  | US        |     63277 | NS      | $1203528.54   | 0.92%             |  |  |  | No            |                  1 | On Loan: No      |
| APELLIS PHARMACEUTICALS, INC.                   | APELLIS PHARMACEUTICALS INC COMMON STOCK  | CUSIP: 03753U106<br>LEI: 254900HS0ZFRXXSB9D42 | Long             | EC               |  | US        |      7819 | NS      | $412295.87    | 0.31%             |  |  |  | No            |                  1 | On Loan: No      |
| BOOT BARN HOLDINGS, INC.                        | BOOT BARN HOLDINGS INC COMMON STOCK       | CUSIP: 099406100<br>LEI: 529900QE1BFMYA3N4E71 | Long             | EC               |  | US        |     13230 | NS      | $1104572.70   | 0.84%             |  |  |  | No            |                  1 | On Loan: No      |
| STAG INDUSTRIAL, INC.                           | STAG INDUSTRIAL INC REIT                  | CUSIP: 85254J102<br>LEI: 549300QWYX2W6FASVQ07 | Long             | EC               |  | US        |     37115 | NS      | $1321294.00   | 1.01%             |  |  |  | No            |                  1 | On Loan: No      |
| WORKIVA INC.                                    | WORKIVA INC COMMON STOCK                  | CUSIP: 98139A105<br>LEI: 529900RTOQ8GRWHY1O58 | Long             | EC               |  | US        |      8684 | NS      | $751426.52    | 0.57%             |  |  |  | No            |                  1 | On Loan: No      |
| CHORD ENERGY CORPORATION                        | CHORD ENERGY CORP COMMON STOCK            | CUSIP: 674215207<br>LEI: 529900FA4V2YNIKZ0M71 | Long             | EC               |  | US        |     16038 | NS      | $2298726.54   | 1.75%             |  |  |  | No            |                  1 | On Loan: No      |
| TRONOX HOLDINGS PLC                             | TRONOX HOLDINGS PLC COMMON STOCK          | CUSIP: G9087Q102<br>LEI: 549300NRVC84SGJSXV06 | Long             | EC               |  | US        |     81425 | NS      | $1396438.75   | 1.06%             |  |  |  | No            |                  1 | On Loan: No      |
| Surface Oncology Inc                            | SURFACE ONCOLOGY INC COMMON STOCK         | CUSIP: 86877M209<br>LEI: 549300FCSG6MNIMFH738 | Long             | EC               |  | US        |    115930 | NS      | $108301.81    | 0.08%             |  |  |  | No            |                  1 | On Loan: No      |
| DANA INCORPORATED                               | DANA INC COMMON STOCK                     | CUSIP: 235825205<br>LEI: KVWHW7YLZPFJM8QYNJ51 | Long             | EC               |  | US        |     47742 | NS      | $866039.88    | 0.66%             |  |  |  | No            |                  1 | On Loan: No      |
| Affimed NV                                      | AFFIMED NV COMMON STOCK                   | CUSIP: N01045108<br>LEI: 5493004V4FSXT1D04610 | Long             | EC               |  | US        |     97785 | NS      | $126142.65    | 0.10%             |  |  |  | No            |                  1 | On Loan: No      |
| LANTHEUS HOLDINGS, INC.                         | LANTHEUS HOLDINGS INC COMMON STOCK        | CUSIP: 516544103<br>LEI: 5299005HUB5IOJGO7S39 | Long             | EC               |  | US        |      7192 | NS      | $413540.00    | 0.32%             |  |  |  | No            |                  1 | On Loan: No      |
| CSW INDUSTRIALS, INC.                           | CSW INDUSTRIALS INC COMMON STOCK          | CUSIP: 126402106<br>LEI: 549300SYOEO3RVQ7FB83 | Long             | EC               |  | US        |      4949 | NS      | $669154.29    | 0.51%             |  |  |  | No            |                  1 | On Loan: No      |
| MERIT MEDICAL SYSTEMS, INC.                     | MERIT MEDICAL SYSTEMS INC COMMON STOCK    | CUSIP: 589889104<br>LEI: 549300OYTY138SP2CE83 | Long             | EC               |  | US        |     16621 | NS      | $1185908.35   | 0.90%             |  |  |  | No            |                  1 | On Loan: No      |
| DigitalOcean Holdings, Inc.                     | DIGITALOCEAN HOLDINGS INC COMMON STOCK    | CUSIP: 25402D102<br>LEI: 549300EPISPY3RE3DL21 | Long             | EC               |  | US        |     16414 | NS      | $481750.90    | 0.37%             |  |  |  | No            |                  1 | On Loan: No      |
| ADIENT PUBLIC LIMITED COMPANY                   | ADIENT PLC COMMON STOCK                   | CUSIP: G0084W101<br>LEI: 5493002QLDY8O75RTR78 | Long             | EC               |  | US        |     20712 | NS      | $932454.24    | 0.71%             |  |  |  | No            |                  1 | On Loan: No      |
| KBR, INC.                                       | KBR INC COMMON STOCK                      | CUSIP: 48242W106<br>LEI: 254900OFQDXZRKRCV808 | Long             | EC               |  | US        |     10758 | NS      | $551132.34    | 0.42%             |  |  |  | No            |                  1 | On Loan: No      |
| FIRSTCASH HOLDINGS, INC.                        | FIRSTCASH HOLDINGS INC COMMON STOCK       | CUSIP: 33768G107<br>LEI: N/A                  | Long             | EC               |  | US        |     11729 | NS      | $1081179.22   | 0.82%             |  |  |  | No            |                  1 | On Loan: No      |
| CARS.COM INC.                                   | CARS.COM INC COMMON STOCK                 | CUSIP: 14575E105<br>LEI: 5493002G6J07LNGX4M98 | Long             | EC               |  | US        |     75669 | NS      | $1293939.90   | 0.99%             |  |  |  | No            |                  1 | On Loan: No      |
| HALOZYME THERAPEUTICS, INC.                     | HALOZYME THERAPEUTICS INC COMMON STOCK    | CUSIP: 40637H109<br>LEI: 529900242I3SV9AGM753 | Long             | EC               |  | US        |     31878 | NS      | $1650324.06   | 1.26%             |  |  |  | No            |                  1 | On Loan: No      |
| MAXAR TECHNOLOGIES INC.                         | MAXAR TECHNOLOGIES INC COMMON STOCK       | CUSIP: 57778K105<br>LEI: 549300OEN2G821MIJ922 | Long             | EC               |  | US        |     17898 | NS      | $924789.66    | 0.70%             |  |  |  | No            |                  1 | On Loan: No      |
| Castle Biosciences Inc                          | CASTLE BIOSCIENCES INC COMMON STOCK       | CUSIP: 14843C105<br>LEI: N/A                  | Long             | EC               |  | US        |     10563 | NS      | $286046.04    | 0.22%             |  |  |  | No            |                  1 | On Loan: No      |
| ARMADA HOFFLER PROPERTIES, INC.                 | ARMADA HOFFLER PROPERTIES IN REIT         | CUSIP: 04208T108<br>LEI: 549300WQRSIV6XZT9313 | Long             | EC               |  | US        |     79437 | NS      | $1007261.16   | 0.77%             |  |  |  | No            |                  1 | On Loan: No      |
| FIVE9, INC.                                     | FIVE9 INC COMMON STOCK                    | CUSIP: 338307101<br>LEI: 254900MXP6EWY0SFFR59 | Long             | EC               |  | US        |      5282 | NS      | $416115.96    | 0.32%             |  |  |  | No            |                  1 | On Loan: No      |
| FORMFACTOR, INC.                                | FORMFACTOR INC COMMON STOCK               | CUSIP: 346375108<br>LEI: 549300YCEEO6SZD1ZR61 | Long             | EC               |  | US        |     28412 | NS      | $799513.68    | 0.61%             |  |  |  | No            |                  1 | On Loan: No      |
| Edgewell Personal Care Company                  | EDGEWELL PERSONAL CARE CO COMMON STOCK    | CUSIP: 28035Q102<br>LEI: 549300CY8QZDL4Z3RU59 | Long             | EC               |  | US        |     52404 | NS      | $2246035.44   | 1.71%             |  |  |  | No            |                  1 | On Loan: No      |
| THE ENSIGN GROUP, INC.                          | ENSIGN GROUP INC/THE COMMON STOCK         | CUSIP: 29358P101<br>LEI: 5493003K4HEEA8Q0BC72 | Long             | EC               |  | US        |     10977 | NS      | $1023605.25   | 0.78%             |  |  |  | No            |                  1 | On Loan: No      |
| PIPER SANDLER COMPANIES                         | PIPER SANDLER COS COMMON STOCK            | CUSIP: 724078100<br>LEI: QUQDBTUSOAKFEVMRMF78 | Long             | EC               |  | US        |      7397 | NS      | $1051113.70   | 0.80%             |  |  |  | No            |                  1 | On Loan: No      |
| FATE THERAPEUTICS, INC.                         | FATE THERAPEUTICS INC COMMON STOCK        | CUSIP: 31189P102<br>LEI: 549300L14Q4UHOODLA90 | Long             | EC               |  | US        |     11824 | NS      | $70471.04     | 0.05%             |  |  |  | No            |                  1 | On Loan: No      |
| OFG BANCORP                                     | OFG BANCORP COMMON STOCK                  | CUSIP: 67103X102<br>LEI: 549300Q4QEXJ37LEXQ06 | Long             | EC               |  | US        |     44617 | NS      | $1263107.27   | 0.96%             |  |  |  | No            |                  1 | On Loan: No      |
| AMERICAN EQUITY INVESTMENT LIFE HOLDING COMPANY | AMERICAN EQUITY INVT LIFE HL COMMON STOCK | CUSIP: 025676206<br>LEI: 549300RK5RZQ740FPL83 | Long             | EC               |  | US        |     27135 | NS      | $1292982.75   | 0.99%             |  |  |  | No            |                  1 | On Loan: No      |
| LIVENT CORPORATION                              | LIVENT CORP COMMON STOCK                  | CUSIP: 53814L108<br>LEI: 254900OOLQ2VNMZTJL47 | Long             | EC               |  | US        |     29529 | NS      | $765391.68    | 0.58%             |  |  |  | No            |                  1 | On Loan: No      |
| Customers Bancorp, Inc.                         | CUSTOMERS BANCORP INC COMMON STOCK        | CUSIP: 23204G100<br>LEI: 549300WLBCHYKZ53FN68 | Long             | EC               |  | US        |     16865 | NS      | $512190.05    | 0.39%             |  |  |  | No            |                  1 | On Loan: No      |
| Aris Water Solutions Inc                        | ARIS WATER SOLUTION INC-A COMMON STOCK    | CUSIP: 04041L106<br>LEI: N/A                  | Long             | EC               |  | US        |     74082 | NS      | $1147530.18   | 0.87%             |  |  |  | No            |                  1 | On Loan: No      |
| PERFICIENT, INC.                                | PERFICIENT INC COMMON STOCK               | CUSIP: 71375U101<br>LEI: 549300HTBXKL2755T650 | Long             | EC               |  | US        |     18529 | NS      | $1373740.06   | 1.05%             |  |  |  | No            |                  1 | On Loan: No      |
| PTC THERAPEUTICS, INC.                          | PTC THERAPEUTICS INC COMMON STOCK         | CUSIP: 69366J200<br>LEI: 549300UJLWOIWFDGB318 | Long             | EC               |  | US        |     11729 | NS      | $538243.81    | 0.41%             |  |  |  | No            |                  1 | On Loan: No      |
| NATIONAL STORAGE AFFILIATES TRUST               | NATIONAL STORAGE AFFILIATES REIT          | CUSIP: 637870106<br>LEI: N/A                  | Long             | EC               |  | US        |     23352 | NS      | $952761.60    | 0.73%             |  |  |  | No            |                  1 | On Loan: No      |
| CROCS, INC.                                     | CROCS INC COMMON STOCK                    | CUSIP: 227046109<br>LEI: 549300B0J6YCXD63OG72 | Long             | EC               |  | US        |      7210 | NS      | $877961.70    | 0.67%             |  |  |  | No            |                  1 | On Loan: No      |
| INSTRUCTURE HOLDINGS, INC.                      | INSTRUCTURE HOLDINGS INC COMMON STOCK     | CUSIP: 457790103<br>LEI: N/A                  | Long             | EC               |  | US        |     64464 | NS      | $1742461.92   | 1.33%             |  |  |  | No            |                  1 | On Loan: No      |
| SPS COMMERCE, INC.                              | SPS COMMERCE INC COMMON STOCK             | CUSIP: 78463M107<br>LEI: 2549006XVF9GCCETDQ72 | Long             | EC               |  | US        |      5909 | NS      | $804096.72    | 0.61%             |  |  |  | No            |                  1 | On Loan: No      |
| AXIS CAPITAL HOLDINGS LIMITED                   | AXIS CAPITAL HOLDINGS LTD COMMON STOCK    | CUSIP: G0692U109<br>LEI: N/A                  | Long             | EC               |  | US        |     16114 | NS      | $1008252.98   | 0.77%             |  |  |  | No            |                  1 | On Loan: No      |
| STIFEL FINANCIAL CORP.                          | STIFEL FINANCIAL CORP COMMON STOCK        | CUSIP: 860630102<br>LEI: 549300E5F07FE5GHJX84 | Long             | EC               |  | US        |     17337 | NS      | $1168687.17   | 0.89%             |  |  |  | No            |                  1 | On Loan: No      |
| TANGER FACTORY OUTLET CENTERS, INC.             | TANGER FACTORY OUTLET CENTER REIT         | CUSIP: 875465106<br>LEI: UKEW8YSXE4Y581KYOL30 | Long             | EC               |  | US        |     85962 | NS      | $1642733.82   | 1.25%             |  |  |  | No            |                  1 | On Loan: No      |
| Sciplay Corp                                    | SCIPLAY CORP-CLASS A COMMON STOCK         | CUSIP: 809087109<br>LEI: 549300B8E2F1A3EW6869 | Long             | EC               |  | US        |     71893 | NS      | $1221462.07   | 0.93%             |  |  |  | No            |                  1 | On Loan: No      |
| INSMED INCORPORATED                             | INSMED INC COMMON STOCK                   | CUSIP: 457669307<br>LEI: 529900Q55QAG41CCAC11 | Long             | EC               |  | US        |     40547 | NS      | $872976.91    | 0.67%             |  |  |  | No            |                  1 | On Loan: No      |
| NUVASIVE, INC.                                  | NUVASIVE INC COMMON STOCK                 | CUSIP: 670704105<br>LEI: 549300C5ZB4NZ6TWM881 | Long             | EC               |  | US        |     33098 | NS      | $1509268.80   | 1.15%             |  |  |  | No            |                  1 | On Loan: No      |
| BOX, INC.                                       | BOX INC - CLASS A COMMON STOCK            | CUSIP: 10316T104<br>LEI: 549300KQUCPD8687YS68 | Long             | EC               |  | US        |     15286 | NS      | $488999.14    | 0.37%             |  |  |  | No            |                  1 | On Loan: No      |
| WASHINGTON FEDERAL, INC.                        | WASHINGTON FEDERAL INC COMMON STOCK       | CUSIP: 938824109<br>LEI: N/A                  | Long             | EC               |  | US        |     32598 | NS      | $1155925.08   | 0.88%             |  |  |  | No            |                  1 | On Loan: No      |
| VAREX IMAGING CORPORATION                       | VAREX IMAGING CORP COMMON STOCK           | CUSIP: 92214X106<br>LEI: 549300CWYWPVCT8E9W67 | Long             | EC               |  | US        |     72003 | NS      | $1547344.47   | 1.18%             |  |  |  | No            |                  1 | On Loan: No      |
| MGP INGREDIENTS, INC.                           | MGP INGREDIENTS INC COMMON STOCK          | CUSIP: 55303J106<br>LEI: 2549006OMHFVZ4MS8538 | Long             | EC               |  | US        |      6565 | NS      | $640350.10    | 0.49%             |  |  |  | No            |                  1 | On Loan: No      |
| SP PLUS CORPORATION                             | SP PLUS CORP COMMON STOCK                 | CUSIP: 78469C103<br>LEI: 0IDE18EMH1CUKQCUYE69 | Long             | EC               |  | US        |     26651 | NS      | $1005009.21   | 0.77%             |  |  |  | No            |                  1 | On Loan: No      |
| CRESCENT POINT ENERGY CORP.                     | CRESCENT POINT ENERGY CORP COMMON STOCK   | CUSIP: 22576C101<br>LEI: 549300FTKUHZK8OC7N74 | Long             | EC               |  | US        |    112839 | NS      | $841778.94    | 0.64%             |  |  |  | No            |                  1 | On Loan: No      |
| CONMED CORPORATION                              | CONMED CORP COMMON STOCK                  | CUSIP: 207410101<br>LEI: Z6C0YCECH9DCU5ZIQW84 | Long             | EC               |  | US        |      7550 | NS      | $722988.00    | 0.55%             |  |  |  | No            |                  1 | On Loan: No      |
| SOUTHWEST GAS HOLDINGS, INC.                    | SOUTHWEST GAS HOLDINGS INC COMMON STOCK   | CUSIP: 844895102<br>LEI: N/A                  | Long             | EC               |  | US        |     17302 | NS      | $1158022.86   | 0.88%             |  |  |  | No            |                  1 | On Loan: No      |
| Lovesac Co                                      | LOVESAC CO/THE COMMON STOCK               | CUSIP: 54738L109<br>LEI: N/A                  | Long             | EC               |  | US        |     14265 | NS      | $367181.10    | 0.28%             |  |  |  | No            |                  1 | On Loan: No      |
| Sprout Social Inc                               | SPROUT SOCIAL INC - CLASS A COMMON STOCK  | CUSIP: 85209W109<br>LEI: N/A                  | Long             | EC               |  | US        |     11315 | NS      | $723820.55    | 0.55%             |  |  |  | No            |                  1 | On Loan: No      |
| ENTERPRISE FINANCIAL SERVICES CORP              | ENTERPRISE FINANCIAL SERVICE COMMON STOCK | CUSIP: 293712105<br>LEI: 5493001XTU5DLD632129 | Long             | EC               |  | US        |     22035 | NS      | $1174906.20   | 0.90%             |  |  |  | No            |                  1 | On Loan: No      |
| BALLY'S CORPORATION                             | BALLY'S CORP COMMON STOCK                 | CUSIP: 05875B106<br>LEI: 549300NS4D5IK406VT62 | Long             | EC               |  | US        |     20489 | NS      | $407116.43    | 0.31%             |  |  |  | No            |                  1 | On Loan: No      |
| KB HOME                                         | KB HOME COMMON STOCK                      | CUSIP: 48666K109<br>LEI: 549300LGUCWQURMWLG09 | Long             | EC               |  | US        |     46185 | NS      | $1775813.25   | 1.35%             |  |  |  | No            |                  1 | On Loan: No      |
| RAPID7, INC.                                    | RAPID7 INC COMMON STOCK                   | CUSIP: 753422104<br>LEI: 549300GNVG5D60KEYN14 | Long             | EC               |  | US        |     11341 | NS      | $452165.67    | 0.34%             |  |  |  | No            |                  1 | On Loan: No      |
| Apple Hospitality REIT, Inc.                    | APPLE HOSPITALITY REIT INC REIT           | CUSIP: 03784Y200<br>LEI: 549300EVZAR0FBZO4F16 | Long             | EC               |  | US        |     71050 | NS      | $1259716.50   | 0.96%             |  |  |  | No            |                  1 | On Loan: No      |
| WESCO INTERNATIONAL, INC.                       | WESCO INTERNATIONAL INC COMMON STOCK      | CUSIP: 95082P105<br>LEI: 529900TXOGREY3WNJ434 | Long             | EC               |  | US        |      4327 | NS      | $644766.27    | 0.49%             |  |  |  | No            |                  1 | On Loan: No      |
| ALLIED MOTION TECHNOLOGIES INC.                 | ALLIED MOTION TECHNOLOGIES COMMON STOCK   | CUSIP: 019330109<br>LEI: 549300I2LHAWYGNBPM97 | Long             | EC               |  | US        |     14851 | NS      | $603544.64    | 0.46%             |  |  |  | No            |                  1 | On Loan: No      |

### Signature

**Date Signed:** 2023-01-31

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

**Signature:** Andy Metzger

**Name of Signer:** Andy Metzger

**Title:** CFO