# EDGAR Filing Document

**Accession Number:** 0001593547
**File Stem:** 0002048251-26-004244
**Filing Date:** 2026-5
**Character Count:** 15315
**Document Hash:** 70d332ff36908271786b5399dd80c37a
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0002048251-26-004244.hdr.sgml**: 20260528

**ACCESSION NUMBER**: 0002048251-26-004244

**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:** 261029184

**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 Quality Value Fund (Series ID: S000072429)

| Class ID   | Class Name           | Ticker Symbol   |
|:---|:---|:---|
| C000228654 | Investor Shares      | GQHPX           |
| C000228655 | Institutional Shares | GQHIX           |

## 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 Quality Value Fund

- **b. EDGAR series identifier (if any):** S000072429

- **c. LEI of Series:** 549300133YOKUTM8VC55

**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:** $263547851.19

**Total Liabilities:** $136910.67

**Net Assets:** $263410940.52

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000228654 | -1.30%               | 8.04%                | 5.75%                |
| Class ID C000228655 | -1.34%               | 8.04%                | 5.82%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $3025605.89              | $-7661458.13                               |
| Month 2  | $2180204.73              | $17343173.23                               |
| Month 3  | $7175.70                 | $12938238.18                               |

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| PPL CORPORATION                       | PPL CORP COMMON STOCK                     | CUSIP: 69351T106<br>LEI: 9N3UAJSNOUXFKQLF3V18 | Long             | EC               |  | US        |    129336 | NS      | $4940635.20   | 1.88%             |  |  |  | No            |                  1 | On Loan: No      |
| PFIZER INC.                           | PFIZER INC COMMON STOCK                   | CUSIP: 717081103<br>LEI: 765LHXWGK1KXCLTFYQ30 | Long             | EC               |  | US        |     91242 | NS      | $2562075.36   | 0.97%             |  |  |  | No            |                  1 | On Loan: No      |
| THE PROGRESSIVE CORPORATION           | PROGRESSIVE CORP COMMON STOCK             | CUSIP: 743315103<br>LEI: 529900TACNVLY9DCR586 | Long             | EC               |  | US        |     37887 | NS      | $7510718.88   | 2.85%             |  |  |  | No            |                  1 | On Loan: No      |
| NEXTERA ENERGY, INC.                  | NEXTERA ENERGY INC COMMON STOCK           | CUSIP: 65339F101<br>LEI: 254900RHL9MEUS5NKX63 | Long             | EC               |  | US        |     60126 | NS      | $5584502.88   | 2.12%             |  |  |  | No            |                  1 | On Loan: No      |
| CME GROUP INC.                        | CME GROUP INC COMMON STOCK                | CUSIP: 12572Q105<br>LEI: LCZ7XYGSLJUHFXXNXD88 | Long             | EC               |  | US        |     35543 | NS      | $10497625.05  | 3.99%             |  |  |  | No            |                  1 | On Loan: No      |
| AT&T INC.                             | AT&T INC COMMON STOCK                     | CUSIP: 00206R102<br>LEI: 549300Z40J86GGSTL398 | Long             | EC               |  | US        |    562020 | NS      | $16292959.80  | 6.19%             |  |  |  | No            |                  1 | On Loan: No      |
| VERIZON COMMUNICATIONS INC.           | VERIZON COMMUNICATIONS INC COMMON STOCK   | CUSIP: 92343V104<br>LEI: 2S72QS2UO2OESLG6Y829 | Long             | EC               |  | US        |    334251 | NS      | $16779400.20  | 6.37%             |  |  |  | No            |                  1 | On Loan: No      |
| THE SOUTHERN COMPANY                  | SOUTHERN CO/THE COMMON STOCK              | CUSIP: 842587107<br>LEI: 549300FC3G3YU2FBZD92 | Long             | EC               |  | US        |     50526 | NS      | $4876769.52   | 1.85%             |  |  |  | No            |                  1 | On Loan: No      |
| THE CIGNA GROUP                       | THE CIGNA GROUP COMMON STOCK              | CUSIP: 125523100<br>LEI: 549300VIWYMSIGT1U456 | Long             | EC               |  | US        |     21575 | NS      | $5755131.25   | 2.18%             |  |  |  | No            |                  1 | On Loan: No      |
| BRISTOL-MYERS SQUIBB COMPANY          | BRISTOL-MYERS SQUIBB CO COMMON STOCK      | CUSIP: 110122108<br>LEI: HLYYNH7UQUORYSJQCN42 | Long             | EC               |  | US        |     44570 | NS      | $2703170.50   | 1.03%             |  |  |  | No            |                  1 | On Loan: No      |
| OCCIDENTAL PETROLEUM CORPORATION      | OCCIDENTAL PETROLEUM CORP COMMON STOCK    | CUSIP: 674599105<br>LEI: IM7X0T3ECJW4C1T7ON55 | Long             | EC               |  | US        |     91348 | NS      | $5937620.00   | 2.25%             |  |  |  | No            |                  1 | On Loan: No      |
| DUKE ENERGY CORPORATION               | DUKE ENERGY CORP COMMON STOCK             | CUSIP: 26441C204<br>LEI: I1BZKREC126H0VB1BL91 | Long             | EC               |  | US        |     53226 | NS      | $6969412.44   | 2.65%             |  |  |  | No            |                  1 | On Loan: No      |
| Pepsico, Inc.                         | PEPSICO INC COMMON STOCK                  | CUSIP: 713448108<br>LEI: FJSUNZKFNQ5YPJ5OT455 | Long             | EC               |  | US        |     30113 | NS      | $4676247.77   | 1.78%             |  |  |  | No            |                  1 | On Loan: No      |
| CMS ENERGY CORPORATION                | CMS ENERGY CORP COMMON STOCK              | CUSIP: 125896100<br>LEI: 549300IA9XFBAGNIBW29 | Long             | EC               |  | US        |     69924 | NS      | $5424703.92   | 2.06%             |  |  |  | No            |                  1 | On Loan: No      |
| JOHNSON & JOHNSON                     | JOHNSON & JOHNSON COMMON STOCK            | CUSIP: 478160104<br>LEI: 549300G0CFPGEF6X2043 | Long             | EC               |  | US        |     32616 | NS      | $7972655.04   | 3.03%             |  |  |  | No            |                  1 | On Loan: No      |
| VALERO ENERGY CORPORATION             | VALERO ENERGY CORP COMMON STOCK           | CUSIP: 91913Y100<br>LEI: 549300XTO5VR8SKV1V74 | Long             | EC               |  | US        |     32048 | NS      | $7918419.84   | 3.01%             |  |  |  | No            |                  1 | On Loan: No      |
| DEVON ENERGY CORPORATION              | DEVON ENERGY CORP COMMON STOCK            | CUSIP: 25179M103<br>LEI: 54930042348RKR3ZPN35 | Long             | EC               |  | US        |    107134 | NS      | $5390982.88   | 2.05%             |  |  |  | No            |                  1 | On Loan: No      |
| AMERICAN INTERNATIONAL GROUP, INC.    | AMERICAN INTERNATIONAL GROUP COMMON STOCK | CUSIP: N/A<br>LEI: ODVCVCQG2BP6VHV36M30       | Long             | EC               |  | US        |     68685 | NS      | $5168546.25   | 1.96%             |  |  |  | No            |                  1 | On Loan: No      |
| MERCK & CO., INC.                     | MERCK & CO. INC. COMMON STOCK             | CUSIP: 58933Y105<br>LEI: 4YV9Y5M8S0BRK1RP0397 | Long             | EC               |  | US        |     49191 | NS      | $5917185.39   | 2.25%             |  |  |  | No            |                  1 | On Loan: No      |
| TOTALENERGIES SE                      | TOTALENERGIES SE COMMON STOCK             | CUSIP: F92124100<br>LEI: 529900S21EQ1BO4ESM68 | Long             | EC               |  | US        |     56934 | NS      | $5179855.32   | 1.97%             |  |  |  | No            |                  1 | On Loan: No      |
| Philip Morris International Inc.      | PHILIP MORRIS INTERNATIONAL COMMON STOCK  | CUSIP: 718172109<br>LEI: HL3H1H2BGXWVG3BSWR90 | Long             | EC               |  | US        |     79190 | NS      | $13093274.60  | 4.97%             |  |  |  | No            |                  1 | On Loan: No      |
| THE COCA-COLA COMPANY                 | COCA-COLA CO/THE COMMON STOCK             | CUSIP: 191216100<br>LEI: UWJKFUJFZ02DKWI3RY53 | Long             | EC               |  | US        |     93794 | NS      | $7133033.70   | 2.71%             |  |  |  | No            |                  1 | On Loan: No      |
| CINCINNATI FINANCIAL CORPORATION      | CINCINNATI FINANCIAL CORP COMMON STOCK    | CUSIP: 172062101<br>LEI: 254900Q4WEDMZBOZ0002 | Long             | EC               |  | US        |     32370 | NS      | $5093419.50   | 1.93%             |  |  |  | No            |                  1 | On Loan: No      |
| Enbridge Inc.                         | ENBRIDGE INC COMMON STOCK                 | CUSIP: 29250N105<br>LEI: 98TPTUM4IVMFCZBCUR27 | Long             | EC               |  | US        |    236562 | NS      | $12807466.68  | 4.86%             |  |  |  | No            |                  1 | On Loan: No      |
| Xcel Energy Inc.                      | XCEL ENERGY INC COMMON STOCK              | CUSIP: 98389B100<br>LEI: LGJNMI9GH8XIDG5RCM61 | Long             | EC               |  | US        |     63212 | NS      | $5021561.28   | 1.91%             |  |  |  | No            |                  1 | On Loan: No      |
| Nestle S.A.                           | NESTLE SA-SPONS ADR DEPOSITARY RECEIPT    | CUSIP: 641069406<br>LEI: KY37LUS27QQX7BB93L28 | Long             | EC               |  | US        |     16866 | NS      | $1671420.60   | 0.63%             |  |  |  | No            |                  1 | On Loan: No      |
| N/A                                   | BROWN BROTHERS HARRIMAN SWEEP INTEREST    | CUSIP: N/A<br>LEI: N/A                        | Long             | STIV             |  | US        |   5905735 | PA      | $5905734.66   | 2.24%             |  |  |  | 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        |     49256 | NS      | $6703249.04   | 2.54%             |  |  |  | No            |                  1 | On Loan: No      |
| SANOFI SA                             | SANOFI-ADR DEPOSITARY RECEIPT             | CUSIP: 80105N105<br>LEI: 549300E9PC51EN656011 | Long             | EC               |  | US        |     86580 | NS      | $4171424.40   | 1.58%             |  |  |  | No            |                  1 | On Loan: No      |
| EXELON CORPORATION                    | EXELON CORP COMMON STOCK                  | CUSIP: 30161N101<br>LEI: 3SOUA6IRML7435B56G12 | Long             | EC               |  | US        |     76360 | NS      | $3743167.20   | 1.42%             |  |  |  | No            |                  1 | On Loan: No      |
| THE PROCTER & GAMBLE COMPANY          | PROCTER & GAMBLE CO/THE COMMON STOCK      | CUSIP: 742718109<br>LEI: 2572IBTT8CCZW6AU4141 | Long             | EC               |  | US        |     41569 | NS      | $6004226.36   | 2.28%             |  |  |  | No            |                  1 | On Loan: No      |
| AMERICAN ELECTRIC POWER COMPANY, INC. | AMERICAN ELECTRIC POWER COMMON STOCK      | CUSIP: N/A<br>LEI: 1B4S6S7G0TW5EE83BO58       | Long             | EC               |  | US        |     81528 | NS      | $10686690.24  | 4.06%             |  |  |  | No            |                  1 | On Loan: No      |
| THE ALLSTATE CORPORATION              | ALLSTATE CORP COMMON STOCK                | CUSIP: N/A<br>LEI: OBT0W1ED8G0NWVOLOJ77       | Long             | EC               |  | US        |     38046 | NS      | $7888457.64   | 2.99%             |  |  |  | No            |                  1 | On Loan: No      |
| Altria Group, Inc.                    | ALTRIA GROUP INC COMMON STOCK             | CUSIP: 02209S103<br>LEI: XSGZFLO9YTNO9VCQV219 | Long             | EC               |  | US        |    194858 | NS      | $12858679.42  | 4.88%             |  |  |  | No            |                  1 | On Loan: No      |
| CHEVRON CORPORATION                   | CHEVRON CORP COMMON STOCK                 | CUSIP: 166764100<br>LEI: N/A                  | Long             | EC               |  | US        |     43930 | NS      | $9089117.00   | 3.45%             |  |  |  | No            |                  1 | On Loan: No      |
| EXXON MOBIL CORPORATION               | EXXON MOBIL CORP COMMON STOCK             | CUSIP: 30231G102<br>LEI: J3WHBG0MTS7O8ZVMDC91 | Long             | EC               |  | US        |     62432 | NS      | $10592213.12  | 4.02%             |  |  |  | No            |                  1 | On Loan: No      |
| CVS HEALTH CORPORATION                | CVS HEALTH CORP COMMON STOCK              | CUSIP: 126650100<br>LEI: 549300EJG376EN5NQE29 | Long             | EC               |  | US        |     29814 | NS      | $2141241.48   | 0.81%             |  |  |  | No            |                  1 | On Loan: No      |

### Signature

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

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

**Signature:** Andrew Metzger

**Name of Signer:** Andrew Metzger

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