# EDGAR Filing Document

**Accession Number:** 0001593547
**File Stem:** 0002048251-25-003871
**Filing Date:** 2025-12
**Character Count:** 36231
**Document Hash:** 98e6a652242150705622ea3afde447d9
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0002048251-25-003871.hdr.sgml**: 20251230

**ACCESSION NUMBER**: 0002048251-25-003871

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 1

**CONFORMED PERIOD OF REPORT**: 20251031

**FILED AS OF DATE**: 20251230

**DATE AS OF CHANGE**: 20251229

**PERIOD START**: 20251031

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Advisors' Inner Circle Fund III
- **CENTRAL INDEX KEY:** 0001593547

**ORGANIZATION NAME:**
- **EIN:** 000000000
- **STATE OF INCORPORATION:** DE

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-22920
- **FILM NUMBER:** 251610511

**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 Long/Short Equity Fund (Series ID: S000066638)

| Class ID   | Class Name      | Ticker Symbol   |
|:---|:---|:---|
| C000214839 | Investor Shares | KCEVX           |

## 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 Long/Short Equity Fund

- **b. EDGAR series identifier (if any):** S000066638

- **c. LEI of Series:** 549300JH3RCMZIAGJR87

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

- **a. Date of fiscal year-end:** 2025-10-31

- **b. Date as of which information is reported:** 2025-10-31

**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:** $253700567.02

**Total Liabilities:** $74714737.88

**Net Assets:** $178985829.14

**Cash Not Reported:** $74074630.95

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000214839 | -0.16%               | 0.35%                | 2.00%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $-1085309.06             | $795023.02                                 |
| Month 2  | $0.00                    | $313923.99                                 |
| Month 3  | $0.00                    | $4101358.97                                |

**Designated Index Information**

- **Index Name:** SPIA_SP500_USD-PR

- **Index Identifier:** SPIA_SP500_USD-PR

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| Samsara Inc                                    | SAMSARA INC-CL A COMMON STOCK                    | CUSIP: 79589L106<br>LEI: N/A                  | Short            | EC               |  | US        |    -75204 | NS      | $-3020944.68  | -1.69%            |  |  |  | No            |                  1 | On Loan: No      |
| SYNCHRONY FINANCIAL                            | SYNCHRONY FINANCIAL COMMON STOCK                 | CUSIP: 87165B103<br>LEI: 549300RS7EWPM9MA6C78 | Long             | EC               |  | US        |     40322 | NS      | $2999150.36   | 1.68%             |  |  |  | No            |                  1 | On Loan: No      |
| CISCO SYSTEMS, INC.                            | CISCO SYSTEMS INC COMMON STOCK                   | CUSIP: 17275R102<br>LEI: 549300LKFJ962MZ46593 | Long             | EC               |  | US        |     50063 | NS      | $3660105.93   | 2.04%             |  |  |  | No            |                  1 | On Loan: No      |
| Logitech international S.A.                    | LOGITECH INTERNATIONAL-REG COMMON STOCK          | CUSIP: H50430232<br>LEI: 549300SN6PRK6IJJC215 | Long             | EC               |  | US        |     25912 | NS      | $3123950.72   | 1.75%             |  |  |  | No            |                  1 | On Loan: No      |
| INTERNATIONAL BUSINESS MACHINES CORPORATION    | INTL BUSINESS MACHINES CORP COMMON STOCK         | CUSIP: 459200101<br>LEI: VGRQXHF3J8VDLUA7XE92 | Long             | EC               |  | US        |      6332 | NS      | $1946520.12   | 1.09%             |  |  |  | No            |                  1 | On Loan: No      |
| JABIL INC.                                     | JABIL INC COMMON STOCK                           | CUSIP: 466313103<br>LEI: 5493000CGCQY2OQU7669 | Long             | EC               |  | US        |     15874 | NS      | $3506407.86   | 1.96%             |  |  |  | No            |                  1 | On Loan: No      |
| MakeMyTrip Limited                             | MAKEMYTRIP LTD COMMON STOCK                      | CUSIP: V5633W109<br>LEI: 529900DNT8HNJ7RYUO60 | Short            | EC               |  | US        |     -4559 | NS      | $-364720.00   | -0.20%            |  |  |  | No            |                  1 | On Loan: No      |
| FIDELITY NATIONAL FINANCIAL, INC               | FIDELITY NATIONAL FINANCIAL COMMON STOCK         | CUSIP: 31620R303<br>LEI: 549300CAZYIH39SYQ287 | Long             | EC               |  | US        |     13000 | NS      | $718120.00    | 0.40%             |  |  |  | No            |                  1 | On Loan: No      |
| DOLLAR TREE, INC.                              | DOLLAR TREE INC COMMON STOCK                     | CUSIP: 256746108<br>LEI: 549300PMSTQITB1WHR43 | Long             | EC               |  | US        |     25256 | NS      | $2503374.72   | 1.40%             |  |  |  | No            |                  1 | On Loan: No      |
| INCYTE CORPORATION                             | INCYTE CORP COMMON STOCK                         | CUSIP: 45337C102<br>LEI: 549300Z4WN6JVZ3T4680 | Long             | EC               |  | US        |     29211 | NS      | $2730644.28   | 1.53%             |  |  |  | No            |                  1 | On Loan: No      |
| INTERNATIONAL PAPER COMPANY                    | INTERNATIONAL PAPER CO COMMON STOCK              | CUSIP: 460146103<br>LEI: 824LMFJDH41EY779Q875 | Short            | EC               |  | US        |    -65521 | NS      | $-2531731.44  | -1.41%            |  |  |  | No            |                  1 | On Loan: No      |
| ROYALTY PHARMA PLC                             | ROYALTY PHARMA PLC- CL A COMMON STOCK            | CUSIP: G7709Q104<br>LEI: 549300FGFN7VOK8BZR03 | Long             | EC               |  | US        |     95039 | NS      | $3567764.06   | 1.99%             |  |  |  | No            |                  1 | On Loan: No      |
| BOOZ ALLEN HAMILTON HOLDING CORPORATION        | BOOZ ALLEN HAMILTON HOLDINGS COMMON STOCK        | CUSIP: N/A<br>LEI: 529900JPV47PIUWMA015       | Long             | EC               |  | US        |      9787 | NS      | $853034.92    | 0.48%             |  |  |  | No            |                  1 | On Loan: No      |
| ZOOM COMMUNICATIONS, INC.                      | ZOOM COMMUNICATIONS INC COMMON STOCK             | CUSIP: 98980L101<br>LEI: 549300T9GCHU0ODOM055 | Long             | EC               |  | US        |     42282 | NS      | $3688258.86   | 2.06%             |  |  |  | No            |                  1 | On Loan: No      |
| COCA-COLA CONSOLIDATED, INC.                   | COCA-COLA CONSOLIDATED INC COMMON STOCK          | CUSIP: 191098102<br>LEI: 57VG5X0E00X0QJU7CQ58 | Long             | EC               |  | US        |     12603 | NS      | $1643179.14   | 0.92%             |  |  |  | No            |                  1 | On Loan: No      |
| Ark Fintech Innovation ETF                     | ARK FINTECH INNOVATION ETF MUTUAL FUND           | CUSIP: 00214Q708<br>LEI: N/A                  | Short            | EC               | RF                | US        |    -46597 | NS      | $-2637856.17  | -1.47%            |  |  |  | No            |                  1 | On Loan: No      |
| AKAMAI TECHNOLOGIES, INC.                      | AKAMAI TECHNOLOGIES INC COMMON STOCK             | CUSIP: 00971T101<br>LEI: OC1LZNN2LF5WTJ5RIL89 | Long             | EC               |  | US        |     24798 | NS      | $1862329.80   | 1.04%             |  |  |  | No            |                  1 | On Loan: No      |
| THE COOPER COMPANIES, INC.                     | COOPER COS INC/THE COMMON STOCK                  | CUSIP: 216648501<br>LEI: QJKMVPIGLH7530PCUE20 | Short            | EC               |  | US        |    -42430 | NS      | $-2966281.30  | -1.66%            |  |  |  | No            |                  1 | On Loan: No      |
| GENERAL MILLS, INC.                            | GENERAL MILLS INC COMMON STOCK                   | CUSIP: 370334104<br>LEI: 2TGYMUGI08PO8X8L6150 | Long             | EC               |  | US        |      7371 | NS      | $343562.31    | 0.19%             |  |  |  | No            |                  1 | On Loan: No      |
| JPMORGAN CHASE & CO.                           | JPMORGAN CHASE & CO COMMON STOCK                 | CUSIP: 46625H100<br>LEI: 8I5DZWZKVSZI1NUHU748 | Long             | EC               |  | US        |      3855 | NS      | $1199367.60   | 0.67%             |  |  |  | No            |                  1 | On Loan: No      |
| UNITED THERAPEUTICS CORPORATION                | UNITED THERAPEUTICS CORP COMMON STOCK            | CUSIP: 91307C102<br>LEI: 5299005C4HZL4UWROC14 | Long             | EC               |  | US        |      7557 | NS      | $3366114.51   | 1.88%             |  |  |  | No            |                  1 | On Loan: No      |
| CROWDSTRIKE HOLDINGS, INC.                     | CROWDSTRIKE HOLDINGS INC - A COMMON STOCK        | CUSIP: 22788C105<br>LEI: 549300YBY08K9KM4HX32 | Short            | EC               |  | US        |     -1970 | NS      | $-1069729.70  | -0.60%            |  |  |  | No            |                  1 | On Loan: No      |
| WATSCO, INC.                                   | WATSCO INC COMMON STOCK                          | CUSIP: 942622200<br>LEI: 549300F1Y3LN5BX5WN75 | Short            | EC               |  | US        |     -5482 | NS      | $-2017430.82  | -1.13%            |  |  |  | No            |                  1 | On Loan: No      |
| CARDINAL HEALTH, INC.                          | CARDINAL HEALTH INC COMMON STOCK                 | CUSIP: 14149Y108<br>LEI: CCU46N3GJMF4OK4N7U60 | Long             | EC               |  | US        |     21881 | NS      | $4174238.37   | 2.33%             |  |  |  | No            |                  1 | On Loan: No      |
| ADVANCED MICRO DEVICES, INC.                   | ADVANCED MICRO DEVICES COMMON STOCK              | CUSIP: N/A<br>LEI: R2I72C950HOYXII45366       | Short            | EC               |  | US        |     -7313 | NS      | $-1873005.56  | -1.05%            |  |  |  | No            |                  1 | On Loan: No      |
| CORPAY, INC.                                   | CORPAY INC COMMON STOCK                          | CUSIP: 219948106<br>LEI: 549300DG6RR0NQSFLN74 | Long             | EC               |  | US        |      7897 | NS      | $2055983.95   | 1.15%             |  |  |  | No            |                  1 | On Loan: No      |
| GILEAD SCIENCES, INC.                          | GILEAD SCIENCES INC COMMON STOCK                 | CUSIP: 375558103<br>LEI: 549300WTZWR07K8MNV44 | Long             | EC               |  | US        |     30088 | NS      | $3604241.52   | 2.01%             |  |  |  | No            |                  1 | On Loan: No      |
| DELL TECHNOLOGIES INC.                         | DELL TECHNOLOGIES -C COMMON STOCK                | CUSIP: 24703L202<br>LEI: 549300TJB5YBRUPOG437 | Long             | EC               |  | US        |     14969 | NS      | $2425127.69   | 1.35%             |  |  |  | No            |                  1 | On Loan: No      |
| DATADOG, INC.                                  | DATADOG INC - CLASS A COMMON STOCK               | CUSIP: 23804L103<br>LEI: 549300F6JNO0KRPO1K63 | Short            | EC               |  | US        |     -3479 | NS      | $-566415.99   | -0.32%            |  |  |  | No            |                  1 | On Loan: No      |
| iShares Russell 1000 ETF                       | ISHARES RUSSELL 1000 ETF MUTUAL FUND             | CUSIP: 464287622<br>LEI: N/A                  | Short            | EC               | RF                | US        |    -23165 | NS      | $-8656992.15  | -4.84%            |  |  |  | No            |                  1 | On Loan: No      |
| CF INDUSTRIES HOLDINGS, INC.                   | CF INDUSTRIES HOLDINGS INC COMMON STOCK          | CUSIP: 125269100<br>LEI: 529900CG8YAQFZ2JMV97 | Long             | EC               |  | US        |     37457 | NS      | $3119793.53   | 1.74%             |  |  |  | No            |                  1 | On Loan: No      |
| LAM RESEARCH CORPORATION                       | LAM RESEARCH CORP COMMON STOCK                   | CUSIP: 512807306<br>LEI: 549300I4GMO6D34U1T02 | Long             | EC               |  | US        |      6861 | NS      | $1080333.06   | 0.60%             |  |  |  | No            |                  1 | On Loan: No      |
| STRATEGY INC                                   | STRATEGY INC- CL A COMMON STOCK                  | CUSIP: 594972408<br>LEI: 549300WQTWEJUEHXQX21 | Short            | EC               |  | US        |     -4702 | NS      | $-1267236.02  | -0.71%            |  |  |  | No            |                  1 | On Loan: No      |
| META PLATFORMS, INC.                           | META PLATFORMS INC COMMON STOCK                  | CUSIP: 30303M102<br>LEI: BQ4BKCS1HXDV9HN80Z93 | Long             | EC               |  | US        |      1627 | NS      | $1054865.45   | 0.59%             |  |  |  | No            |                  1 | On Loan: No      |
| UNUM GROUP                                     | UNUM GROUP COMMON STOCK                          | CUSIP: 91529Y106<br>LEI: 549300E32YFDO6TZ8R31 | Long             | EC               |  | US        |      5650 | NS      | $414823.00    | 0.23%             |  |  |  | No            |                  1 | On Loan: No      |
| ARK Next Generation Internet ETF               | ARK NEXT GENERATION INTERNET MUTUAL FUND         | CUSIP: 00214Q401<br>LEI: N/A                  | Short            | EC               | RF                | US        |     -7746 | NS      | $-1370267.40  | -0.77%            |  |  |  | No            |                  1 | On Loan: No      |
| TESLA, INC.                                    | TESLA INC COMMON STOCK                           | CUSIP: 88160R101<br>LEI: 54930043XZGB27CTOV49 | Short            | EC               |  | US        |     -6433 | NS      | $-2937050.48  | -1.64%            |  |  |  | No            |                  1 | On Loan: No      |
| Astera Labs Inc                                | ASTERA LABS INC COMMON STOCK                     | CUSIP: 04626A103<br>LEI: 529900LJL8TUEGF7HG20 | Short            | EC               |  | US        |     -4441 | NS      | $-829045.88   | -0.46%            |  |  |  | No            |                  1 | On Loan: No      |
| EXELIXIS, INC.                                 | EXELIXIS INC COMMON STOCK                        | CUSIP: 30161Q104<br>LEI: 254900PJQB59O2O95R37 | Long             | EC               |  | US        |     52330 | NS      | $2023601.10   | 1.13%             |  |  |  | No            |                  1 | On Loan: No      |
| ANGLOGOLD ASHANTI PLC                          | ANGLOGOLD ASHANTI PLC COMMON STOCK               | CUSIP: G0378L100<br>LEI: 2138005YDSA7A82RNU96 | Long             | EC               |  | US        |      9192 | NS      | $625056.00    | 0.35%             |  |  |  | No            |                  1 | On Loan: No      |
| EQUITABLE HOLDINGS, INC.                       | EQUITABLE HOLDINGS INC COMMON STOCK              | CUSIP: N/A<br>LEI: 549300FIBAKMNHPZ4009       | Long             | EC               |  | US        |     43399 | NS      | $2143910.60   | 1.20%             |  |  |  | No            |                  1 | On Loan: No      |
| DOCUSIGN, INC.                                 | DOCUSIGN INC COMMON STOCK                        | CUSIP: 256163106<br>LEI: 549300Q7PVDWRZ39JG09 | Long             | EC               |  | US        |      7721 | NS      | $564713.94    | 0.32%             |  |  |  | No            |                  1 | On Loan: No      |
| REDDIT INC.                                    | REDDIT INC-CL A COMMON STOCK                     | CUSIP: 75734B100<br>LEI: 529900APN1YHPBHPI679 | Short            | EC               |  | US        |     -3175 | NS      | $-663416.25   | -0.37%            |  |  |  | No            |                  1 | On Loan: No      |
| SLB N.V.                                       | SLB LTD COMMON STOCK                             | CUSIP: 806857108<br>LEI: 213800ZUA17OK3QLGM62 | Long             | EC               |  | US        |     37488 | NS      | $1351817.28   | 0.76%             |  |  |  | No            |                  1 | On Loan: No      |
| iShares Trust - iShares Russell 2000 Value ETF | ISHARES RUSSELL 2000 VALUE E MUTUAL FUND         | CUSIP: 464287630<br>LEI: 549300WJAJCAZZLTQD63 | Short            | EC               | RF                | US        |    -71840 | NS      | $-12725019.20 | -7.11%            |  |  |  | No            |                  1 | On Loan: No      |
| FOX CORPORATION                                | FOX CORP - CLASS A COMMON STOCK                  | CUSIP: 35137L105<br>LEI: 549300DDU6FDRBIELS05 | Long             | EC               |  | US        |     55177 | NS      | $3567193.05   | 1.99%             |  |  |  | No            |                  1 | On Loan: No      |
| GEN DIGITAL INC.                               | GEN DIGITAL INC COMMON STOCK                     | CUSIP: 668771108<br>LEI: YF6ZV0M6AU4FY94MK914 | Long             | EC               |  | US        |     30575 | NS      | $805957.00    | 0.45%             |  |  |  | No            |                  1 | On Loan: No      |
| MCCORMICK & COMPANY, INCORPORATED              | MCCORMICK & CO-NON VTG SHRS COMMON STOCK         | CUSIP: 579780206<br>LEI: 549300JQQA6MQ4OJP259 | Short            | EC               |  | US        |    -14897 | NS      | $-955791.52   | -0.53%            |  |  |  | No            |                  1 | On Loan: No      |
| ROCKET LAB CORPORATION                         | ROCKET LAB CORP COMMON STOCK                     | CUSIP: 773121108<br>LEI: N/A                  | Short            | EC               |  | US        |    -11960 | NS      | $-753240.80   | -0.42%            |  |  |  | No            |                  1 | On Loan: No      |
| DICK'S SPORTING GOODS, INC.                    | DICK'S SPORTING GOODS INC COMMON STOCK           | CUSIP: 253393102<br>LEI: 529900SSBV5I4LWSK313 | Long             | EC               |  | US        |      1786 | NS      | $395509.70    | 0.22%             |  |  |  | No            |                  1 | On Loan: No      |
| WELLS FARGO SHORT PORTFOLIO REBATE INCOME      | WELLS FARGO SHORT PORTFOLIO REBATE INCOME        | CUSIP: N/A<br>LEI: N/A                        | Long             | STIV             |  | US        |         1 | PA      | $0.00         | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| OMNICOM GROUP INC.                             | OMNICOM GROUP COMMON STOCK                       | CUSIP: 681919106<br>LEI: HKUPACFHSSASQK8HLS17 | Long             | EC               |  | US        |     18352 | NS      | $1376767.04   | 0.77%             |  |  |  | No            |                  1 | On Loan: No      |
| QUALCOMM INCORPORATED                          | QUALCOMM INC COMMON STOCK                        | CUSIP: 747525103<br>LEI: H1J8DDZKZP6H7RWC0H53 | Long             | EC               |  | US        |     16187 | NS      | $2928228.30   | 1.64%             |  |  |  | No            |                  1 | On Loan: No      |
| BANK OF AMERICA CORPORATION                    | BANK OF AMERICA CORP COMMON STOCK                | CUSIP: N/A<br>LEI: 9DJT3UXIJIZJI4WXO774       | Long             | EC               |  | US        |     16109 | NS      | $861026.05    | 0.48%             |  |  |  | No            |                  1 | On Loan: No      |
| ROBINHOOD MARKETS, INC.                        | ROBINHOOD MARKETS INC - A COMMON STOCK           | CUSIP: 770700102<br>LEI: 213800FS5AO3YWIE6F63 | Long             | EC               |  | US        |      9903 | NS      | $1453562.34   | 0.81%             |  |  |  | No            |                  1 | On Loan: No      |
| WELLS FARGO & COMPANY                          | WELLS FARGO & CO COMMON STOCK                    | CUSIP: 949746101<br>LEI: PBLD0EJDB5FWOLXP3B76 | Long             | EC               |  | US        |     14115 | NS      | $1227581.55   | 0.69%             |  |  |  | No            |                  1 | On Loan: No      |
| EBAY INC.                                      | EBAY INC COMMON STOCK                            | CUSIP: 278642103<br>LEI: OML71K8X303XQONU6T67 | Long             | EC               |  | US        |     32692 | NS      | $2658186.52   | 1.49%             |  |  |  | No            |                  1 | On Loan: No      |
| State Street SPDR Portfolio S&P 500 Value ETF  | STATE STREET SPDR PORT S&P 500 VALUE MUTUAL FUND | CUSIP: 78464A508<br>LEI: N/A                  | Short            | EC               | RF                | US        |    -91589 | NS      | $-5127152.22  | -2.86%            |  |  |  | No            |                  1 | On Loan: No      |
| EXPEDIA GROUP, INC.                            | EXPEDIA GROUP INC COMMON STOCK                   | CUSIP: 30212P303<br>LEI: N/A                  | Long             | EC               |  | US        |     15600 | NS      | $3432000.00   | 1.92%             |  |  |  | No            |                  1 | On Loan: No      |
| NETAPP, INC.                                   | NETAPP INC COMMON STOCK                          | CUSIP: 64110D104<br>LEI: QTX3D84DZDD5JYOCYH15 | Long             | EC               |  | US        |     28748 | NS      | $3385939.44   | 1.89%             |  |  |  | No            |                  1 | On Loan: No      |
| FAIR ISAAC CORPORATION                         | FAIR ISAAC CORP COMMON STOCK                     | CUSIP: 303250104<br>LEI: RI6HET5SJUEY30V1PS26 | Short            | EC               |  | US        |      -567 | NS      | $-940953.51   | -0.53%            |  |  |  | No            |                  1 | On Loan: No      |
| TALEN ENERGY CORP                              | TALEN ENERGY CORP COMMON STOCK                   | CUSIP: 87422Q109<br>LEI: N/A                  | Long             | EC               |  | US        |      1948 | NS      | $778771.44    | 0.44%             |  |  |  | No            |                  1 | On Loan: No      |
| SKYWORKS SOLUTIONS, INC.                       | SKYWORKS SOLUTIONS INC COMMON STOCK              | CUSIP: 83088M102<br>LEI: 549300WZ3ORQ2BVKBD96 | Long             | EC               |  | US        |     15826 | NS      | $1229996.72   | 0.69%             |  |  |  | No            |                  1 | On Loan: No      |
| Credo Technology Group Holding Ltd             | CREDO TECHNOLOGY GROUP HOLDI COMMON STOCK        | CUSIP: G25457105<br>LEI: N/A                  | Short            | EC               |  | US        |     -6124 | NS      | $-1148984.88  | -0.64%            |  |  |  | No            |                  1 | On Loan: No      |
| BEST BUY CO., INC.                             | BEST BUY CO INC COMMON STOCK                     | CUSIP: N/A<br>LEI: HL5XPTVRV0O8TUN5LL90       | Long             | EC               |  | US        |     18738 | NS      | $1539139.32   | 0.86%             |  |  |  | No            |                  1 | On Loan: No      |
| MARVELL TECHNOLOGY, INC.                       | MARVELL TECHNOLOGY INC COMMON STOCK              | CUSIP: 573874104<br>LEI: N/A                  | Short            | EC               |  | US        |    -18150 | NS      | $-1701381.00  | -0.95%            |  |  |  | No            |                  1 | On Loan: No      |
| HALLIBURTON COMPANY                            | HALLIBURTON CO COMMON STOCK                      | CUSIP: 406216101<br>LEI: ENYF8GB5SMQZ25S06U51 | Long             | EC               |  | US        |     64955 | NS      | $1743392.20   | 0.97%             |  |  |  | No            |                  1 | On Loan: No      |
| LIVE NATION ENTERTAINMENT, INC.                | LIVE NATION ENTERTAINMENT IN COMMON STOCK        | CUSIP: 538034109<br>LEI: 5493007B9BM9ZXJINO78 | Long             | EC               |  | US        |     16170 | NS      | $2417900.10   | 1.35%             |  |  |  | No            |                  1 | On Loan: No      |
| CELSIUS HOLDINGS, INC.                         | CELSIUS HOLDINGS INC COMMON STOCK                | CUSIP: 15118V207<br>LEI: N/A                  | Short            | EC               |  | US        |    -26987 | NS      | $-1625427.01  | -0.91%            |  |  |  | No            |                  1 | On Loan: No      |
| SMURFIT WESTROCK PUBLIC LIMITED COMPANY        | SMURFIT WESTROCK PLC COMMON STOCK                | CUSIP: G8267P108<br>LEI: 635400EGSEOPDW2EXS14 | Short            | EC               |  | US        |    -16355 | NS      | $-603826.60   | -0.34%            |  |  |  | No            |                  1 | On Loan: No      |
| THE CHARLES SCHWAB CORPORATION                 | SCHWAB (CHARLES) CORP COMMON STOCK               | CUSIP: 808513105<br>LEI: 549300VSGCJ7E698NM85 | Long             | EC               |  | US        |      8549 | NS      | $808051.48    | 0.45%             |  |  |  | No            |                  1 | On Loan: No      |
| HOLOGIC, INC.                                  | HOLOGIC INC COMMON STOCK                         | CUSIP: 436440101<br>LEI: 549300DYP6F5ZJL0LB74 | Long             | EC               |  | US        |     50628 | NS      | $3741915.48   | 2.09%             |  |  |  | No            |                  1 | On Loan: No      |
| HUBSPOT, INC.                                  | HUBSPOT INC COMMON STOCK                         | CUSIP: 443573100<br>LEI: 529900BLNVEW0MVKJB37 | Short            | EC               |  | US        |     -5008 | NS      | $-2463535.36  | -1.38%            |  |  |  | No            |                  1 | On Loan: No      |
| EOG RESOURCES, INC.                            | EOG RESOURCES INC COMMON STOCK                   | CUSIP: 26875P101<br>LEI: XWTZDRYZPBUHIQBKDB46 | Long             | EC               |  | US        |     10923 | NS      | $1156090.32   | 0.65%             |  |  |  | No            |                  1 | On Loan: No      |
| FLEX LTD.                                      | FLEX LTD COMMON STOCK                            | CUSIP: Y2573F102<br>LEI: 549300EAQH74YHD07T53 | Long             | EC               |  | US        |     59144 | NS      | $3697682.88   | 2.07%             |  |  |  | No            |                  1 | On Loan: No      |
| AIRBNB, INC.                                   | AIRBNB INC-CLASS A COMMON STOCK                  | CUSIP: N/A<br>LEI: 549300HMUDNO0RY56D37       | Long             | EC               |  | US        |     13940 | NS      | $1763967.60   | 0.99%             |  |  |  | No            |                  1 | On Loan: No      |
| SNOWFLAKE INC.                                 | SNOWFLAKE INC COMMON STOCK                       | CUSIP: 833445109<br>LEI: 254900CJNSY1K7T53Z16 | Short            | EC               |  | US        |     -4219 | NS      | $-1159718.72  | -0.65%            |  |  |  | No            |                  1 | On Loan: No      |
| WELLS FARGO SHORT PORTFOLIO INTEREST EXPENSE   | WELLS FARGO SHORT PORTFOLIO INTEREST EXPENSE     | CUSIP: N/A<br>LEI: N/A                        | Long             | STIV             |  | US        |         1 | PA      | $0.00         | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| AMERIPRISE FINANCIAL, INC.                     | AMERIPRISE FINANCIAL INC COMMON STOCK            | CUSIP: 03076C106<br>LEI: 6ZLKQF7QB6JAEKQS5388 | Long             | EC               |  | US        |      6902 | NS      | $3125018.54   | 1.75%             |  |  |  | No            |                  1 | On Loan: No      |
| Coherent Corp.                                 | COHERENT CORP COMMON STOCK                       | CUSIP: 19247G107<br>LEI: 549300O5C25A0MMHHU33 | Short            | EC               |  | US        |    -11212 | NS      | $-1479535.52  | -0.83%            |  |  |  | No            |                  1 | On Loan: No      |
| WIX.COM LTD                                    | WIX.COM LTD COMMON STOCK                         | CUSIP: M98068105<br>LEI: 5493008P6N29Q1AG9464 | Long             | EC               |  | US        |      1976 | NS      | $287587.04    | 0.16%             |  |  |  | No            |                  1 | On Loan: No      |
| TAPESTRY, INC.                                 | TAPESTRY INC COMMON STOCK                        | CUSIP: 876030107<br>LEI: 549300LJNVY5SW3VTN33 | Long             | EC               |  | US        |     29399 | NS      | $3228598.18   | 1.80%             |  |  |  | No            |                  1 | On Loan: No      |
| NRG ENERGY, INC.                               | NRG ENERGY INC COMMON STOCK                      | CUSIP: 629377508<br>LEI: 5E2UPK5SW04M13XY7I38 | Long             | EC               |  | US        |      7313 | NS      | $1256812.18   | 0.70%             |  |  |  | No            |                  1 | On Loan: No      |
| N/A                                            | BROWN BROTHERS HARRIMAN SWEEP INTEREST           | CUSIP: N/A<br>LEI: N/A                        | Long             | STIV             |  | US        |  54178553 | PA      | $54178552.54  | 30.27%            |  |  |  | No            |                  1 | On Loan: No      |
| LULULEMON ATHLETICA INC.                       | LULULEMON ATHLETICA INC COMMON STOCK             | CUSIP: 550021109<br>LEI: 549300D9GZ4BMLDW5T40 | Long             | EC               |  | US        |      3575 | NS      | $609680.50    | 0.34%             |  |  |  | No            |                  1 | On Loan: No      |
| TOPBUILD CORP.                                 | TOPBUILD CORP COMMON STOCK                       | CUSIP: 89055F103<br>LEI: 5493007YSKHOL4RWII46 | Long             | EC               |  | US        |      3228 | NS      | $1363765.44   | 0.76%             |  |  |  | No            |                  1 | On Loan: No      |
| COREBRIDGE FINANCIAL, INC.                     | COREBRIDGE FINANCIAL INC COMMON STOCK            | CUSIP: 21871X109<br>LEI: 549300XY1661QCIA7J65 | Long             | EC               |  | US        |     20042 | NS      | $652567.52    | 0.36%             |  |  |  | No            |                  1 | On Loan: No      |
| CHECK POINT SOFTWARE TECHNOLOGIES LTD.         | CHECK POINT SOFTWARE TECH COMMON STOCK           | CUSIP: M22465104<br>LEI: 2549003ZVBH73EPNS513 | Long             | EC               |  | US        |      8719 | NS      | $1706133.92   | 0.95%             |  |  |  | No            |                  1 | On Loan: No      |
| FTAI Aviation Ltd,                             | FTAI AVIATION LTD COMMON STOCK                   | CUSIP: G3730V105<br>LEI: N/A                  | Short            | EC               |  | US        |     -9079 | NS      | $-1569759.10  | -0.88%            |  |  |  | No            |                  1 | On Loan: No      |
| RALPH LAUREN CORPORATION                       | RALPH LAUREN CORP COMMON STOCK                   | CUSIP: 751212101<br>LEI: HO1QNWM0IXBZ0QSMMO20 | Long             | EC               |  | US        |      5782 | NS      | $1848274.12   | 1.03%             |  |  |  | No            |                  1 | On Loan: No      |
| ROPER TECHNOLOGIES, INC.                       | ROPER TECHNOLOGIES INC COMMON STOCK              | CUSIP: 776696106<br>LEI: 54930003T4SXCIWVXY35 | Short            | EC               |  | US        |     -3252 | NS      | $-1450879.80  | -0.81%            |  |  |  | No            |                  1 | On Loan: No      |
| Amer Sports, Inc                               | AMER SPORTS INC COMMON STOCK                     | CUSIP: G0260P102<br>LEI: 391200YCSWTRD1J21867 | Short            | EC               |  | US        |    -85910 | NS      | $-2682969.30  | -1.50%            |  |  |  | No            |                  1 | On Loan: No      |
| Coterra Energy Inc.                            | COTERRA ENERGY INC COMMON STOCK                  | CUSIP: 127097103<br>LEI: FCNMH6O7VWU7LHXMK351 | Long             | EC               |  | US        |     12403 | NS      | $293454.98    | 0.16%             |  |  |  | No            |                  1 | On Loan: No      |
| CHENIERE ENERGY, INC.                          | CHENIERE ENERGY INC COMMON STOCK                 | CUSIP: 16411R208<br>LEI: MIHC87W9WTYSYZWV1J40 | Long             | EC               |  | US        |      3496 | NS      | $741152.00    | 0.41%             |  |  |  | No            |                  1 | On Loan: No      |
| BERKSHIRE HATHAWAY INC.                        | BERKSHIRE HATHAWAY INC-CL B COMMON STOCK         | CUSIP: N/A<br>LEI: 5493000C01ZX7D35SD85       | Long             | EC               |  | US        |     10328 | NS      | $4932033.12   | 2.76%             |  |  |  | No            |                  1 | On Loan: No      |
| MICROCHIP TECHNOLOGY INCORPORATED              | MICROCHIP TECHNOLOGY INC COMMON STOCK            | CUSIP: 595017104<br>LEI: 5493007PTFULNYZJ1R12 | Short            | EC               |  | US        |    -30362 | NS      | $-1895196.04  | -1.06%            |  |  |  | No            |                  1 | On Loan: No      |
| FIRST SOLAR, INC.                              | FIRST SOLAR INC COMMON STOCK                     | CUSIP: 336433107<br>LEI: 549300NPYMLM4NHTOF27 | Short            | EC               |  | US        |     -8149 | NS      | $-2175294.06  | -1.22%            |  |  |  | No            |                  1 | On Loan: No      |
| CONSTELLATION ENERGY CORPORATION.              | CONSTELLATION ENERGY COMMON STOCK                | CUSIP: 21037T109<br>LEI: 549300F8Y20RYGNGV346 | Short            | EC               |  | US        |     -3275 | NS      | $-1234675.00  | -0.69%            |  |  |  | No            |                  1 | On Loan: No      |
| PAYPAL HOLDINGS, INC.                          | PAYPAL HOLDINGS INC COMMON STOCK                 | CUSIP: 70450Y103<br>LEI: 5493005X2GO78EFZ3E94 | Long             | EC               |  | US        |     23533 | NS      | $1630130.91   | 0.91%             |  |  |  | No            |                  1 | On Loan: No      |

### Signature

**Date Signed:** 2025-10-31

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

**Signature:** Andrew Metzger

**Name of Signer:** Andrew Metzger

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