# EDGAR Filing Document

**Accession Number:** 0001593547
**File Stem:** 0002048251-26-004246
**Filing Date:** 2026-5
**Character Count:** 14410
**Document Hash:** dfb5ff1ed4c920284728ce9a2b61c605
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0002048251-26-004246.hdr.sgml**: 20260528

**ACCESSION NUMBER**: 0002048251-26-004246

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 1

**CONFORMED PERIOD OF REPORT**: 20260331

**FILED AS OF DATE**: 20260528

**DATE AS OF CHANGE**: 20260528

**PERIOD START**: 20260331

**FILER**: 

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

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

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-22920
- **FILM NUMBER:** 261029186

**BUSINESS ADDRESS:**
- **STREET 1:** ONE FREEDOM VALLEY DRIVE
- **CITY:** OAKS
- **STATE:** PA
- **ZIP:** 19456
- **BUSINESS PHONE:** (800) 342-5734

**MAIL ADDRESS:**
- **STREET 1:** ONE FREEDOM VALLEY DRIVE
- **CITY:** OAKS
- **STATE:** PA
- **ZIP:** 19456

## Series and Classes Contracts Data

### GQG PARTNERS US SELECT QUALITY EQUITY FUND (Series ID: S000063192)

| Class ID   | Class Name           | Ticker Symbol   |
|:---|:---|:---|
| C000204820 | R6 Shares            | GQERX           |
| C000204821 | Institutional Shares | GQEIX           |
| C000204822 | Investor Shares      | GQEPX           |

## Form NPORT-P: Monthly Portfolio Investments Report

### NPORT-P: Part A: General Information

**Item A.1. Information about the Registrant.**

- **a. Name of Registrant:** ADVISORS' INNER CIRCLE III

- **b. Investment Company Act file number:** 811-22920

- **c. CIK number of Registrant:** 0001593547

- **d. LEI of Registrant:** 549300TG800HOPJVWT31

- **e. Address and telephone number of Registrant.**

  - **Street Address 1:** ONE FREEDOM VALLEY DRIVE

  - **City:** OAKS

  - **State:** PA

  - **Foreign country:** US

  - **Zip / Postal Code:** 19456

  - **Telephone number:** 8774463863

**Item A.2. Information about the Series.**

- **a. Name of Series:** GQG PARTNERS US SELECT QUALITY EQUITY FUND

- **b. EDGAR series identifier (if any):** S000063192

- **c. LEI of Series:** 549300O3CSBIOFSNDH37

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

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

- **b. Date as of which information is reported:** 2026-03-31

**Item A.4. Final filing**

Does the Fund anticipate that this will be its final filing on Form N-PORT? **No**

### Fund Information

**Total Assets:** $2896505710.28

**Total Liabilities:** $1323808.98

**Net Assets:** $2895181901.30

**Cash Not Reported:** $82.45

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000204822 | -2.14%               | 7.90%                | 3.75%                |
| Class ID C000204820 | -2.09%               | 7.87%                | 3.78%                |
| Class ID C000204821 | -2.13%               | 7.92%                | 3.78%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $29057389.55             | $-106130360.87                             |
| Month 2  | $22643839.24             | $198019260.77                              |
| Month 3  | $1482979.01              | $89157156.43                               |

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| ATMOS ENERGY CORPORATION               | ATMOS ENERGY CORP COMMON STOCK               | CUSIP: N/A<br>LEI: QVLWEGTD2S8GJMO8D383       | Long             | EC               |  | US        |    234028 | NS      | $43229652.16  | 1.49%             |  |  |  | No            |                  1 | On Loan: No      |
| VERIZON COMMUNICATIONS INC.            | VERIZON COMMUNICATIONS INC COMMON STOCK      | CUSIP: 92343V104<br>LEI: 2S72QS2UO2OESLG6Y829 | Long             | EC               |  | US        |   3216857 | NS      | $161486221.40 | 5.58%             |  |  |  | No            |                  1 | On Loan: No      |
| Altria Group, Inc.                     | ALTRIA GROUP INC COMMON STOCK                | CUSIP: 02209S103<br>LEI: XSGZFLO9YTNO9VCQV219 | Long             | EC               |  | US        |   1904266 | NS      | $125662513.30 | 4.34%             |  |  |  | No            |                  1 | On Loan: No      |
| DEVON ENERGY CORPORATION               | DEVON ENERGY CORP COMMON STOCK               | CUSIP: 25179M103<br>LEI: 54930042348RKR3ZPN35 | Long             | EC               |  | US        |   1681468 | NS      | $84611469.76  | 2.92%             |  |  |  | No            |                  1 | On Loan: No      |
| OLD REPUBLIC INTERNATIONAL CORPORATION | OLD REPUBLIC INTL CORP COMMON STOCK          | CUSIP: 680223104<br>LEI: 549300IV6O2YY2A1KH37 | Long             | EC               |  | US        |   1005994 | NS      | $40139160.60  | 1.39%             |  |  |  | No            |                  1 | On Loan: No      |
| Philip Morris International Inc.       | PHILIP MORRIS INTERNATIONAL COMMON STOCK     | CUSIP: 718172109<br>LEI: HL3H1H2BGXWVG3BSWR90 | Long             | EC               |  | US        |    965735 | NS      | $159674624.90 | 5.52%             |  |  |  | No            |                  1 | On Loan: No      |
| CENTERPOINT ENERGY, INC.               | CENTERPOINT ENERGY INC COMMON STOCK          | CUSIP: 15189T107<br>LEI: 21TPXMRRHFKOBHDC8J74 | Long             | EC               |  | US        |   1295787 | NS      | $55926166.92  | 1.93%             |  |  |  | No            |                  1 | On Loan: No      |
| CME GROUP INC.                         | CME GROUP INC COMMON STOCK                   | CUSIP: 12572Q105<br>LEI: LCZ7XYGSLJUHFXXNXD88 | Long             | EC               |  | US        |    252969 | NS      | $74714394.15  | 2.58%             |  |  |  | No            |                  1 | On Loan: No      |
| NEXTERA ENERGY, INC.                   | NEXTERA ENERGY INC COMMON STOCK              | CUSIP: 65339F101<br>LEI: 254900RHL9MEUS5NKX63 | Long             | EC               |  | US        |    833112 | NS      | $77379442.56  | 2.67%             |  |  |  | No            |                  1 | On Loan: No      |
| BERKSHIRE HATHAWAY INC.                | BERKSHIRE HATHAWAY INC-CL B COMMON STOCK     | CUSIP: N/A<br>LEI: 5493000C01ZX7D35SD85       | Long             | EC               |  | US        |    132729 | NS      | $63603736.80  | 2.20%             |  |  |  | No            |                  1 | On Loan: No      |
| JOHNSON & JOHNSON                      | JOHNSON & JOHNSON COMMON STOCK               | CUSIP: 478160104<br>LEI: 549300G0CFPGEF6X2043 | Long             | EC               |  | US        |    556128 | NS      | $135939928.30 | 4.70%             |  |  |  | No            |                  1 | On Loan: No      |
| AT&T INC.                              | AT&T INC COMMON STOCK                        | CUSIP: 00206R102<br>LEI: 549300Z40J86GGSTL398 | Long             | EC               |  | US        |   6064514 | NS      | $175810260.90 | 6.07%             |  |  |  | No            |                  1 | On Loan: No      |
| OCCIDENTAL PETROLEUM CORPORATION       | OCCIDENTAL PETROLEUM CORP COMMON STOCK       | CUSIP: 674599105<br>LEI: IM7X0T3ECJW4C1T7ON55 | Long             | EC               |  | US        |   1852671 | NS      | $120423615.00 | 4.16%             |  |  |  | No            |                  1 | On Loan: No      |
| EXXON MOBIL CORPORATION                | EXXON MOBIL CORP COMMON STOCK                | CUSIP: 30231G102<br>LEI: J3WHBG0MTS7O8ZVMDC91 | Long             | EC               |  | US        |    583851 | NS      | $99056160.66  | 3.42%             |  |  |  | No            |                  1 | On Loan: No      |
| AMERICAN ELECTRIC POWER COMPANY, INC.  | AMERICAN ELECTRIC POWER COMMON STOCK         | CUSIP: N/A<br>LEI: 1B4S6S7G0TW5EE83BO58       | Long             | EC               |  | US        |    868168 | NS      | $113799461.40 | 3.93%             |  |  |  | No            |                  1 | On Loan: No      |
| THE ALLSTATE CORPORATION               | ALLSTATE CORP COMMON STOCK                   | CUSIP: N/A<br>LEI: OBT0W1ED8G0NWVOLOJ77       | Long             | EC               |  | US        |    496124 | NS      | $102866350.20 | 3.55%             |  |  |  | No            |                  1 | On Loan: No      |
| BP P.L.C.                              | BP PLC-SPONS ADR DEPOSITARY RECEIPT          | CUSIP: N/A<br>LEI: 213800LH1BZH3DI6G760       | Long             | EC               |  | US        |   1559093 | NS      | $73277371.00  | 2.53%             |  |  |  | No            |                  1 | On Loan: No      |
| THE COCA-COLA COMPANY                  | COCA-COLA CO/THE COMMON STOCK                | CUSIP: 191216100<br>LEI: UWJKFUJFZ02DKWI3RY53 | Long             | EC               |  | US        |   1194276 | NS      | $90824689.80  | 3.14%             |  |  |  | No            |                  1 | On Loan: No      |
| Novartis AG                            | NOVARTIS AG-SPONSORED ADR DEPOSITARY RECEIPT | CUSIP: 66987V109<br>LEI: 5493007HIVTX6SY6XD66 | Long             | EC               |  | US        |    667383 | NS      | $101942753.30 | 3.52%             |  |  |  | No            |                  1 | On Loan: No      |
| AMERICAN WATER WORKS COMPANY, INC.     | AMERICAN WATER WORKS CO INC COMMON STOCK     | CUSIP: N/A<br>LEI: 549300DXHIJQMD5WFW18       | Long             | EC               |  | US        |    671336 | NS      | $91362116.24  | 3.16%             |  |  |  | No            |                  1 | On Loan: No      |
| THE CIGNA GROUP                        | THE CIGNA GROUP COMMON STOCK                 | CUSIP: 125523100<br>LEI: 549300VIWYMSIGT1U456 | Long             | EC               |  | US        |    417382 | NS      | $111336648.50 | 3.85%             |  |  |  | No            |                  1 | On Loan: No      |
| DUKE ENERGY CORPORATION                | DUKE ENERGY CORP COMMON STOCK                | CUSIP: 26441C204<br>LEI: I1BZKREC126H0VB1BL91 | Long             | EC               |  | US        |    443148 | NS      | $58025799.12  | 2.00%             |  |  |  | No            |                  1 | On Loan: No      |
| CINCINNATI FINANCIAL CORPORATION       | CINCINNATI FINANCIAL CORP COMMON STOCK       | CUSIP: 172062101<br>LEI: 254900Q4WEDMZBOZ0002 | Long             | EC               |  | US        |    421351 | NS      | $66299579.85  | 2.29%             |  |  |  | No            |                  1 | On Loan: No      |
| THE KROGER CO.                         | KROGER CO COMMON STOCK                       | CUSIP: 501044101<br>LEI: 6CPEOKI6OYJ13Q6O7870 | Long             | EC               |  | US        |   1068513 | NS      | $77317600.68  | 2.67%             |  |  |  | No            |                  1 | On Loan: No      |
| Enbridge Inc.                          | ENBRIDGE INC COMMON STOCK                    | CUSIP: 29250N105<br>LEI: 98TPTUM4IVMFCZBCUR27 | Long             | EC               |  | US        |   1286535 | NS      | $69653004.90  | 2.41%             |  |  |  | No            |                  1 | On Loan: No      |
| N/A                                    | BROWN BROTHERS HARRIMAN SWEEP INTEREST       | CUSIP: N/A<br>LEI: N/A                        | Long             | STIV             |  | US        |  25963141 | PA      | $25963141.35  | 0.90%             |  |  |  | No            |                  1 | On Loan: No      |
| THE PROGRESSIVE CORPORATION            | PROGRESSIVE CORP COMMON STOCK                | CUSIP: 743315103<br>LEI: 529900TACNVLY9DCR586 | Long             | EC               |  | US        |    617685 | NS      | $122449874.40 | 4.23%             |  |  |  | No            |                  1 | On Loan: No      |
| EXELON CORPORATION                     | EXELON CORP COMMON STOCK                     | CUSIP: 30161N101<br>LEI: 3SOUA6IRML7435B56G12 | Long             | EC               |  | US        |   1446986 | NS      | $70931253.72  | 2.45%             |  |  |  | No            |                  1 | On Loan: No      |
| Xcel Energy Inc.                       | XCEL ENERGY INC COMMON STOCK                 | CUSIP: 98389B100<br>LEI: LGJNMI9GH8XIDG5RCM61 | Long             | EC               |  | US        |    671963 | NS      | $53380740.72  | 1.84%             |  |  |  | No            |                  1 | On Loan: No      |
| AMERICAN INTERNATIONAL GROUP, INC.     | AMERICAN INTERNATIONAL GROUP COMMON STOCK    | CUSIP: N/A<br>LEI: ODVCVCQG2BP6VHV36M30       | Long             | EC               |  | US        |    769518 | NS      | $57906229.50  | 2.00%             |  |  |  | No            |                  1 | On Loan: No      |
| RENAISSANCERE HOLDINGS LTD.            | RENAISSANCERE HOLDINGS LTD COMMON STOCK      | CUSIP: G7496G103<br>LEI: EK6GB9U3U58PDI411C94 | Long             | EC               |  | US        |    141393 | NS      | $42026241.39  | 1.45%             |  |  |  | No            |                  1 | On Loan: No      |
| Pepsico, Inc.                          | PEPSICO INC COMMON STOCK                     | CUSIP: 713448108<br>LEI: FJSUNZKFNQ5YPJ5OT455 | Long             | EC               |  | US        |    299520 | NS      | $46512460.80  | 1.61%             |  |  |  | No            |                  1 | On Loan: No      |
| CHEVRON CORPORATION                    | CHEVRON CORP COMMON STOCK                    | CUSIP: 166764100<br>LEI: N/A                  | Long             | EC               |  | US        |    459816 | NS      | $95135930.40  | 3.29%             |  |  |  | No            |                  1 | On Loan: No      |

### Signature

**Date Signed:** 2026-03-31

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

**Signature:** Andrew Metzger

**Name of Signer:** Andrew Metzger

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