# EDGAR Filing Document

**Accession Number:** 0001593547
**File Stem:** 0001752724-23-048613
**Filing Date:** 2023-3
**Character Count:** 22874
**Document Hash:** 20b418671df75629d21e6d6ef83e5d58
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001752724-23-048613.hdr.sgml**: 20230301

**ACCESSION NUMBER**: 0001752724-23-048613

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20221231

**FILED AS OF DATE**: 20230301

**DATE AS OF CHANGE**: 20230301

**PERIOD START**: 20230930

**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:** 23690106

**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

### Democratic Large Cap Core ETF (Series ID: S000069948)

| Class ID   | Class Name                    | Ticker Symbol   |
|:---|:---|:---|
| C000222781 | Democratic Large Cap Core ETF | DEMZ            |

## Nport-Ex

---

| | |
|:---|:---|
| **THE ADVISORS' INNER CIRCLE FUND III** | **DEMOCRATIC**<br> **LARGE CAP CORE ETF**<br> **DECEMBER 31, 2022**<br> **(UNAUDITED)** |

---

---

| | | |
|:---|:---|:---|
| **SCHEDULE OF INVESTMENTS** | | |
| **COMMON STOCK\*\* — 99.7%** | | |
|  | <br>**Shares** | <br>**Value** |
|  **Communication Services — 7.6%**  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Electronic Arts | 2070 | $252913 |
| &nbsp;&nbsp;&nbsp;&nbsp; Live Nation Entertainment \* | 1461 | 101890 |
| &nbsp;&nbsp;&nbsp;&nbsp; Omnicom Group | 6213 | 506794 |
| &nbsp;&nbsp;&nbsp;&nbsp; Walt Disney \* | 6768 | 588004 |
| &nbsp;&nbsp;&nbsp;&nbsp; Warner Bros Discovery \* | 9703 | 91984 |
|  |  | 1541585 |
|  **Consumer Discretionary — 5.0%**  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; CarMax \* | 1594 | 97059 |
| &nbsp;&nbsp;&nbsp;&nbsp; Hasbro | 1739 | 106096 |
| &nbsp;&nbsp;&nbsp;&nbsp; Ross Stores | 2674 | 310371 |
| &nbsp;&nbsp;&nbsp;&nbsp; Starbucks | 5032 | 499175 |
|  |  | 1012701 |
|  **Consumer Staples — 10.4%**  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Colgate-Palmolive | 8016 | 631581 |
| &nbsp;&nbsp;&nbsp;&nbsp; Costco Wholesale | 1735 | 792027 |
| &nbsp;&nbsp;&nbsp;&nbsp; Kimberly-Clark | 4962 | 673592 |
|  |  | 2097200 |
|  **Financials — 15.6%**  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Everest Re Group | 1564 | 518106 |
| &nbsp;&nbsp;&nbsp;&nbsp; M&T Bank | 6954 | 1008747 |
| &nbsp;&nbsp;&nbsp;&nbsp; Moody's | 2161 | 602098 |
| &nbsp;&nbsp;&nbsp;&nbsp; Progressive | 5173 | 670990 |
| &nbsp;&nbsp;&nbsp;&nbsp; Willis Towers Watson | 1487 | 363691 |
|  |  | 3163632 |
|  **Health Care — 10.8%**  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Agilent Technologies | 2004 | 299899 |
| &nbsp;&nbsp;&nbsp;&nbsp; Danaher | 2881 | 764675 |
| &nbsp;&nbsp;&nbsp;&nbsp; Incyte \* | 3724 | 299112 |
| &nbsp;&nbsp;&nbsp;&nbsp; IQVIA Holdings \* | 1489 | 305081 |
| &nbsp;&nbsp;&nbsp;&nbsp; Stryker | 2106 | 514896 |
|  |  | 2183663 |
|  **Industrials — 7.5%**  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Allegion | 2354 | 247782 |
| &nbsp;&nbsp;&nbsp;&nbsp; Carrier Global | 14410 | 594412 |
| &nbsp;&nbsp;&nbsp;&nbsp; Expeditors International of Washington | 2904 | 301784 |
| &nbsp;&nbsp;&nbsp;&nbsp; Xylem | 3282 | 362891 |
|  |  | 1506869 |

---

------

---

| | |
|:---|:---|
| **THE ADVISORS' INNER CIRCLE FUND III** | **DEMOCRATIC**<br> **LARGE CAP CORE ETF**<br> **DECEMBER 31, 2022**<br> **(UNAUDITED)** |

---

---

| | | |
|:---|:---|:---|
| **COMMON STOCK\*\* — continued** | | |
|  | <br>**Shares** | <br>**Value** |
|  **Information Technology — 32.4%**  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Adobe \* | 1099 | $369846 |
| &nbsp;&nbsp;&nbsp;&nbsp; Advanced Micro Devices \* | 2963 | 191913 |
| &nbsp;&nbsp;&nbsp;&nbsp; Amphenol, Cl A | 9843 | 749446 |
| &nbsp;&nbsp;&nbsp;&nbsp; Apple | 7319 | 950958 |
| &nbsp;&nbsp;&nbsp;&nbsp; CDW | 1396 | 249298 |
| &nbsp;&nbsp;&nbsp;&nbsp; FleetCor Technologies \* | 2265 | 416035 |
| &nbsp;&nbsp;&nbsp;&nbsp; Gartner \* | 603 | 202692 |
| &nbsp;&nbsp;&nbsp;&nbsp; Gen Digital | 6871 | 147246 |
| &nbsp;&nbsp;&nbsp;&nbsp; International Business Machines | 7065 | 995388 |
| &nbsp;&nbsp;&nbsp;&nbsp; KLA | 1055 | 397767 |
| &nbsp;&nbsp;&nbsp;&nbsp; Lam Research | 918 | 385835 |
| &nbsp;&nbsp;&nbsp;&nbsp; NetApp | 4900 | 294294 |
| &nbsp;&nbsp;&nbsp;&nbsp; NVIDIA | 2736 | 399839 |
| &nbsp;&nbsp;&nbsp;&nbsp; Paychex | 2607 | 301265 |
| &nbsp;&nbsp;&nbsp;&nbsp; Salesforce \* | 2407 | 319144 |
| &nbsp;&nbsp;&nbsp;&nbsp; Western Digital \* | 5927 | 186997 |
|  |  | 6557963 |
|  **Materials — 4.9%**  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Avery Dennison | 3495 | 632595 |
| &nbsp;&nbsp;&nbsp;&nbsp; International Flavors & Fragrances | 3393 | 355722 |
|  |  | 988317 |
|  **Real Estate — 5.5%**  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; American Tower, Cl A ‡ | 2459 | 520964 |
| &nbsp;&nbsp;&nbsp;&nbsp; Prologis ‡ | 5327 | 600512 |
|  |  | 1121476 |
|  **Total Common Stock**<br> (Cost $21,903,883) |  | 20173406 |
|  **Total Investments - 99.7%**<br> (Cost $21,903,883) |  | $20173406 |

---

Percentages are based on Net Assets of $20,232,841.

\* Non-income producing security.

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

‡ Real Estate Investment Trust.

------

---

| | |
|:---|:---|
| **THE ADVISORS' INNER CIRCLE FUND III** | **DEMOCRATIC**<br> **LARGE CAP CORE ETF**<br> **DECEMBER 31, 2022**<br> **(UNAUDITED)** |

---

Cl — Class

For information on the Fund's policy regarding valuation of investments and other significant accounting policies, please refer to the Fund's most recent financial statements.

RAM-QH-001-0500

## 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:** Democratic Large Cap Core ETF

- **b. EDGAR series identifier (if any):** S000069948

- **c. LEI of Series:** 549300M5EXXX4OS3ZE95

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

- **a. Date of fiscal year-end:** 2023-09-30

- **b. Date as of which information is reported:** 2022-12-31

**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:** $20436054.19

**Total Liabilities:** $202963.41

**Net Assets:** $20233090.78

**Cash Not Reported:** $235167.38

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000222781 | -6.04%               | 7.66%                | 8.49%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $-418925.77              | $-916834.68                                |
| Month 2  | $86432.62                | $1463153.54                                |
| Month 3  | $48253.16                | $1527004.77                                |

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| COLGATE-PALMOLIVE COMPANY                   | COLGATE-PALMOLIVE CO COMMON STOCK         | CUSIP: 194162103<br>LEI: YMEGZFW4SBUSS5BQXF88 | Long             | EC               |  | US        |      8016 | NS      | $631580.64    | 3.12%             |  |  |  | No            |                  1 | On Loan: No      |
| STARBUCKS CORPORATION                       | STARBUCKS CORP COMMON STOCK               | CUSIP: 855244109<br>LEI: OQSJ1DU9TAOC51A47K68 | Long             | EC               |  | US        |      5032 | NS      | $499174.40    | 2.47%             |  |  |  | No            |                  1 | On Loan: No      |
| ALLEGION PUBLIC LIMITED COMPANY             | ALLEGION PLC COMMON STOCK                 | CUSIP: G0176J109<br>LEI: 984500560CAC2E6FB757 | Long             | EC               |  | US        |      2354 | NS      | $247782.04    | 1.22%             |  |  |  | No            |                  1 | On Loan: No      |
| LAM RESEARCH CORPORATION                    | LAM RESEARCH CORP COMMON STOCK            | CUSIP: 512807108<br>LEI: 549300I4GMO6D34U1T02 | Long             | EC               |  | US        |       918 | NS      | $385835.40    | 1.91%             |  |  |  | No            |                  1 | On Loan: No      |
| MOODY'S CORPORATION                         | MOODY'S CORP COMMON STOCK                 | CUSIP: 615369105<br>LEI: 549300GCEDD8YCF5WU84 | Long             | EC               |  | US        |      2161 | NS      | $602097.82    | 2.98%             |  |  |  | No            |                  1 | On Loan: No      |
| DANAHER CORPORATION                         | DANAHER CORP COMMON STOCK                 | CUSIP: 235851102<br>LEI: S4BKK9OTCEWQ3YHPFM11 | Long             | EC               |  | US        |      2881 | NS      | $764675.02    | 3.78%             |  |  |  | No            |                  1 | On Loan: No      |
| ELECTRONIC ARTS INC.                        | ELECTRONIC ARTS INC COMMON STOCK          | CUSIP: 285512109<br>LEI: 549300O7A67PUEYKDL45 | Long             | EC               |  | US        |      2070 | NS      | $252912.60    | 1.25%             |  |  |  | No            |                  1 | On Loan: No      |
| EXPEDITORS INTERNATIONAL OF WASHINGTON, INC | EXPEDITORS INTL WASH INC COMMON STOCK     | CUSIP: 302130109<br>LEI: 984500B055A804AB6E40 | Long             | EC               |  | US        |      2904 | NS      | $301783.68    | 1.49%             |  |  |  | No            |                  1 | On Loan: No      |
| AGILENT TECHNOLOGIES, INC.                  | AGILENT TECHNOLOGIES INC COMMON STOCK     | CUSIP: 00846U101<br>LEI: QUIX8Y7A2WP0XRMW7G29 | Long             | EC               |  | US        |      2004 | NS      | $299898.60    | 1.48%             |  |  |  | No            |                  1 | On Loan: No      |
| STRYKER CORPORATION                         | STRYKER CORP COMMON STOCK                 | CUSIP: 863667101<br>LEI: 5493002F0SC4JTBU5137 | Long             | EC               |  | US        |      2106 | NS      | $514895.94    | 2.54%             |  |  |  | No            |                  1 | On Loan: No      |
| ADOBE INC.                                  | ADOBE INC COMMON STOCK                    | CUSIP: 00724F101<br>LEI: FU4LY2G4933NH2E1CP29 | Long             | EC               |  | US        |      1099 | NS      | $369846.47    | 1.83%             |  |  |  | No            |                  1 | On Loan: No      |
| AMERICAN TOWER CORPORATION                  | AMERICAN TOWER CORP REIT                  | CUSIP: 03027X100<br>LEI: 5493006ORUSIL88JOE18 | Long             | EC               |  | US        |      2459 | NS      | $520963.74    | 2.57%             |  |  |  | No            |                  1 | On Loan: No      |
| THE WALT DISNEY COMPANY                     | WALT DISNEY CO/THE COMMON STOCK           | CUSIP: 254687106<br>LEI: 549300GZKULIZ0WOW665 | Long             | EC               |  | US        |      6768 | NS      | $588003.84    | 2.91%             |  |  |  | No            |                  1 | On Loan: No      |
| PAYCHEX, INC.                               | PAYCHEX INC COMMON STOCK                  | CUSIP: 704326107<br>LEI: 529900K900DW6SUBM174 | Long             | EC               |  | US        |      2607 | NS      | $301264.92    | 1.49%             |  |  |  | No            |                  1 | On Loan: No      |
| M&T BANK CORPORATION                        | M & T BANK CORP COMMON STOCK              | CUSIP: 55261F104<br>LEI: 549300WYXDDBYRASEG81 | Long             | EC               |  | US        |      6954 | NS      | $1008747.24   | 4.99%             |  |  |  | No            |                  1 | On Loan: No      |
| ROSS STORES, INC.                           | ROSS STORES INC COMMON STOCK              | CUSIP: 778296103<br>LEI: 549300ENZFLPGRDFZQ60 | Long             | EC               |  | US        |      2674 | NS      | $310371.18    | 1.53%             |  |  |  | No            |                  1 | On Loan: No      |
| KIMBERLY-CLARK CORPORATION                  | KIMBERLY-CLARK CORP COMMON STOCK          | CUSIP: 494368103<br>LEI: MP3J6QPYPGN75NVW2S34 | Long             | EC               |  | US        |      4962 | NS      | $673591.50    | 3.33%             |  |  |  | No            |                  1 | On Loan: No      |
| AMPHENOL CORPORATION                        | AMPHENOL CORP-CL A COMMON STOCK           | CUSIP: 032095101<br>LEI: 549300D3L3G0R4U4VT04 | Long             | EC               |  | US        |      9843 | NS      | $749446.02    | 3.70%             |  |  |  | No            |                  1 | On Loan: No      |
| NETAPP, INC.                                | NETAPP INC COMMON STOCK                   | CUSIP: 64110D104<br>LEI: QTX3D84DZDD5JYOCYH15 | Long             | EC               |  | US        |      4900 | NS      | $294294.00    | 1.45%             |  |  |  | No            |                  1 | On Loan: No      |
| INTERNATIONAL FLAVORS & FRAGRANCES INC.     | INTL FLAVORS & FRAGRANCES COMMON STOCK    | CUSIP: 459506101<br>LEI: BZLRL03D3GPGMOGFO832 | Long             | EC               |  | US        |      3393 | NS      | $355722.12    | 1.76%             |  |  |  | No            |                  1 | On Loan: No      |
| OMNICOM GROUP INC.                          | OMNICOM GROUP COMMON STOCK                | CUSIP: 681919106<br>LEI: HKUPACFHSSASQK8HLS17 | Long             | EC               |  | US        |      6213 | NS      | $506794.41    | 2.50%             |  |  |  | No            |                  1 | On Loan: No      |
| AVERY DENNISON CORPORATION                  | AVERY DENNISON CORP COMMON STOCK          | CUSIP: 053611109<br>LEI: 549300PW7VPFCYKLIV37 | Long             | EC               |  | US        |      3495 | NS      | $632595.00    | 3.13%             |  |  |  | No            |                  1 | On Loan: No      |
| CARRIER GLOBAL CORPORATION                  | CARRIER GLOBAL CORP COMMON STOCK          | CUSIP: 14448C104<br>LEI: 549300JE3W6CWY2NAN77 | Long             | EC               |  | US        |     14410 | NS      | $594412.50    | 2.94%             |  |  |  | No            |                  1 | On Loan: No      |
| SALESFORCE, INC.                            | SALESFORCE INC COMMON STOCK               | CUSIP: 79466L302<br>LEI: RCGZFPDMRW58VJ54VR07 | Long             | EC               |  | US        |      2407 | NS      | $319144.13    | 1.58%             |  |  |  | No            |                  1 | On Loan: No      |
| LIVE NATION ENTERTAINMENT, INC.             | LIVE NATION ENTERTAINMENT IN COMMON STOCK | CUSIP: 538034109<br>LEI: 5493007B9BM9ZXJINO78 | Long             | EC               |  | US        |      1461 | NS      | $101890.14    | 0.50%             |  |  |  | No            |                  1 | On Loan: No      |
| IQVIA HOLDINGS INC                          | IQVIA HOLDINGS INC COMMON STOCK           | CUSIP: 46266C105<br>LEI: 549300W3R20NM4KQPH86 | Long             | EC               |  | US        |      1489 | NS      | $305081.21    | 1.51%             |  |  |  | No            |                  1 | On Loan: No      |
| PROLOGIS, INC.                              | PROLOGIS INC REIT                         | CUSIP: 74340W103<br>LEI: 529900DFH19P073LZ636 | Long             | EC               |  | US        |      5327 | NS      | $600512.71    | 2.97%             |  |  |  | No            |                  1 | On Loan: No      |
| FLEETCOR TECHNOLOGIES, INC.                 | FLEETCOR TECHNOLOGIES INC COMMON STOCK    | CUSIP: 339041105<br>LEI: 549300DG6RR0NQSFLN74 | Long             | EC               |  | US        |      2265 | NS      | $416035.20    | 2.06%             |  |  |  | No            |                  1 | On Loan: No      |
| EVEREST RE GROUP, LTD.                      | EVEREST RE GROUP LTD COMMON STOCK         | CUSIP: G3223R108<br>LEI: 549300N24XF2VV0B3570 | Long             | EC               |  | US        |      1564 | NS      | $518106.28    | 2.56%             |  |  |  | No            |                  1 | On Loan: No      |
| GARTNER, INC.                               | GARTNER INC COMMON STOCK                  | CUSIP: 366651107<br>LEI: PP55B5R38BFB8O8HH686 | Long             | EC               |  | US        |       603 | NS      | $202692.42    | 1.00%             |  |  |  | No            |                  1 | On Loan: No      |
| APPLE INC.                                  | APPLE INC COMMON STOCK                    | CUSIP: 037833100<br>LEI: HWUPKR0MPOU8FGXBT394 | Long             | EC               |  | US        |      7319 | NS      | $950957.67    | 4.70%             |  |  |  | No            |                  1 | On Loan: No      |
| WESTERN DIGITAL CORPORATION                 | WESTERN DIGITAL CORP COMMON STOCK         | CUSIP: 958102105<br>LEI: 549300QQXOOYEF89IC56 | Long             | EC               |  | US        |      5927 | NS      | $186996.85    | 0.92%             |  |  |  | No            |                  1 | On Loan: No      |
| Willis Towers Watson Public Limited Company | WILLIS TOWERS WATSON PLC COMMON STOCK     | CUSIP: G96629103<br>LEI: 549300WHC56FF48KL350 | Long             | EC               |  | US        |      1487 | NS      | $363690.46    | 1.80%             |  |  |  | No            |                  1 | On Loan: No      |
| THE PROGRESSIVE CORPORATION                 | PROGRESSIVE CORP COMMON STOCK             | CUSIP: 743315103<br>LEI: 529900TACNVLY9DCR586 | Long             | EC               |  | US        |      5173 | NS      | $670989.83    | 3.32%             |  |  |  | No            |                  1 | On Loan: No      |
| CarMax, Inc.                                | CARMAX INC COMMON STOCK                   | CUSIP: 143130102<br>LEI: 529900F60CID3NCZM330 | Long             | EC               |  | US        |      1594 | NS      | $97058.66     | 0.48%             |  |  |  | No            |                  1 | On Loan: No      |
| GEN DIGITAL INC.                            | GEN DIGITAL INC COMMON STOCK              | CUSIP: 668771108<br>LEI: YF6ZV0M6AU4FY94MK914 | Long             | EC               |  | US        |      6871 | NS      | $147245.53    | 0.73%             |  |  |  | No            |                  1 | On Loan: No      |
| XYLEM INC.                                  | XYLEM INC COMMON STOCK                    | CUSIP: 98419M100<br>LEI: 549300DF5MV96DRYLQ48 | Long             | EC               |  | US        |      3282 | NS      | $362890.74    | 1.79%             |  |  |  | No            |                  1 | On Loan: No      |
| WARNER BROS. DISCOVERY, INC.                | WARNER BROS DISCOVERY INC COMMON STOCK    | CUSIP: 934423104<br>LEI: 5493006ZCRFWKF6B1K26 | Long             | EC               |  | US        |      9703 | NS      | $91984.44     | 0.45%             |  |  |  | No            |                  1 | On Loan: No      |
| INCYTE CORPORATION                          | INCYTE CORP COMMON STOCK                  | CUSIP: 45337C102<br>LEI: 549300Z4WN6JVZ3T4680 | Long             | EC               |  | US        |      3724 | NS      | $299111.68    | 1.48%             |  |  |  | No            |                  1 | On Loan: No      |
| NVIDIA CORPORATION                          | NVIDIA CORP COMMON STOCK                  | CUSIP: 67066G104<br>LEI: 549300S4KLFTLO7GSQ80 | Long             | EC               |  | US        |      2736 | NS      | $399839.04    | 1.98%             |  |  |  | No            |                  1 | On Loan: No      |
| KLA CORPORATION                             | KLA CORP COMMON STOCK                     | CUSIP: 482480100<br>LEI: 549300H0BF5JCG96TJ81 | Long             | EC               |  | US        |      1055 | NS      | $397766.65    | 1.97%             |  |  |  | No            |                  1 | On Loan: No      |
| ADVANCED MICRO DEVICES, INC.                | ADVANCED MICRO DEVICES COMMON STOCK       | CUSIP: 007903107<br>LEI: R2I72C950HOYXII45366 | Long             | EC               |  | US        |      2963 | NS      | $191913.51    | 0.95%             |  |  |  | No            |                  1 | On Loan: No      |
| COSTCO WHOLESALE CORPORATION                | COSTCO WHOLESALE CORP COMMON STOCK        | CUSIP: 22160K105<br>LEI: 29DX7H14B9S6O3FD6V18 | Long             | EC               |  | US        |      1735 | NS      | $792027.50    | 3.91%             |  |  |  | No            |                  1 | On Loan: No      |
| INTERNATIONAL BUSINESS MACHINES CORPORATION | INTL BUSINESS MACHINES CORP COMMON STOCK  | CUSIP: 459200101<br>LEI: VGRQXHF3J8VDLUA7XE92 | Long             | EC               |  | US        |      7065 | NS      | $995387.85    | 4.92%             |  |  |  | No            |                  1 | On Loan: No      |
| CDW CORPORATION                             | CDW CORP/DE COMMON STOCK                  | CUSIP: 12514G108<br>LEI: 9845001B052ABF0B6755 | Long             | EC               |  | US        |      1396 | NS      | $249297.68    | 1.23%             |  |  |  | No            |                  1 | On Loan: No      |
| Hasbro, Inc.                                | HASBRO INC COMMON STOCK                   | CUSIP: 418056107<br>LEI: 549300NUB6D2R1ITYR45 | Long             | EC               |  | US        |      1739 | NS      | $106096.39    | 0.52%             |  |  |  | No            |                  1 | On Loan: No      |

### Signature

**Date Signed:** 2022-12-31

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

**Signature:** Andy Metzger

**Name of Signer:** Andy Metzger

**Title:** CFO