# EDGAR Filing Document

**Accession Number:** 0001593547
**File Stem:** 0001752724-23-045839
**Filing Date:** 2023-2
**Character Count:** 73043
**Document Hash:** bb6484f483079d9d88c84a67c0013d0e
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001752724-23-045839.hdr.sgml**: 20230228

**ACCESSION NUMBER**: 0001752724-23-045839

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 1

**CONFORMED PERIOD OF REPORT**: 20221231

**FILED AS OF DATE**: 20230228

**DATE AS OF CHANGE**: 20230228

**PERIOD START**: 20221231

**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:** 23681436

**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

### DEMOCRACY INTERNATIONAL FUND (Series ID: S000071338)

| Class ID   | Class Name                          | Ticker Symbol   |
|:---|:---|:---|
| C000226322 | DEMOCRACY INTERNATIONAL FUND Shares | DMCY            |

## 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:** Democracy International Fund

- **b. EDGAR series identifier (if any):** S000071338

- **c. LEI of Series:** 549300FF6GUXODG6A157

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

- **a. Date of fiscal year-end:** 2022-12-31

- **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:** $4936102.87

**Total Liabilities:** $49253.53

**Net Assets:** $4886849.34

**Cash Not Reported:** $72436.60

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000226322 | -1.91%               | 11.47%               | 4.53%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $-281.72                 | $-165031.47                                |
| Month 2  | $0.00                    | $515723.86                                 |
| Month 3  | $-73.63                  | $193975.07                                 |

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| Mercedes-Benz Group AG                                                                      | MERCEDES-BENZ GROUP AG COMMON STOCK            | CUSIP: N/A<br>LEI: 529900R27DL06UVNT076       | Long             | EC               |  | DE        |       236 | NS      | $15464.84     | 0.32%             |  |  |  | No            |                  1 | On Loan: No      |
| Wheaton Precious Metals Corp.                                                               | WHEATON PRECIOUS METALS CORP COMMON STOCK      | CUSIP: 962879102<br>LEI: 549300XSFG5ZCGVYD886 | Long             | EC               |  | CA        |       217 | NS      | $8472.12      | 0.17%             |  |  |  | No            |                  1 | On Loan: No      |
| iShares MSCI Indonesia ETF                                                                  | ISHARES MSCI INDONESIA ETF MUTUAL FUND         | CUSIP: 46429B309<br>LEI: N/A                  | Long             | EC               | RF                | US        |       834 | NS      | $18673.26     | 0.38%             |  |  |  | No            |                  1 | On Loan: No      |
| BARRATT DEVELOPMENTS P L C                                                                  | BARRATT DEVELOPMENTS PLC COMMON STOCK          | CUSIP: N/A<br>LEI: 2138006R85VEOF5YNK29       | Long             | EC               |  | GB        |      1189 | NS      | $5675.25      | 0.12%             |  |  |  | No            |                  1 | On Loan: No      |
| Koninklijke Philips N.V.                                                                    | KONINKLIJKE PHILIPS NV COMMON STOCK            | CUSIP: N/A<br>LEI: H1FJE8H61JGM1JSGM897       | Long             | EC               |  | NL        |       306 | NS      | $4573.39      | 0.09%             |  |  |  | No            |                  1 | On Loan: No      |
| Nokia Oyj                                                                                   | NOKIA OYJ COMMON STOCK                         | CUSIP: N/A<br>LEI: 549300A0JPRWG1KI7U06       | Long             | EC               |  | FI        |      1862 | NS      | $8598.67      | 0.18%             |  |  |  | No            |                  1 | On Loan: No      |
| WORLDLINE SA                                                                                | WORLDLINE SA COMMON STOCK                      | CUSIP: N/A<br>LEI: 549300CJMQNCA0U4TS33       | Long             | EC               |  | FR        |       126 | NS      | $4912.30      | 0.10%             |  |  |  | Yes           |                  1 | On Loan: No      |
| UBS Group AG                                                                                | UBS GROUP AG-REG COMMON STOCK                  | CUSIP: N/A<br>LEI: 549300SZJ9VS8SGXAN81       | Long             | EC               |  | CH        |       964 | NS      | $17926.52     | 0.37%             |  |  |  | No            |                  1 | On Loan: No      |
| WASTE CONNECTIONS, INC.                                                                     | WASTE CONNECTIONS INC COMMON STOCK             | CUSIP: 94106B101<br>LEI: 549300HDLRTPBQU69P29 | Long             | EC               |  | CA        |       101 | NS      | $13378.71     | 0.27%             |  |  |  | No            |                  1 | On Loan: No      |
| Credit Suisse Group AG                                                                      | CREDIT SUISSE GROUP AG-REG COMMON STOCK        | CUSIP: N/A<br>LEI: 549300506SI9CRFV9Z86       | Long             | EC               |  | CH        |       855 | NS      | $2554.28      | 0.05%             |  |  |  | No            |                  1 | On Loan: No      |
| STMicroelectronics N.V.                                                                     | STMICROELECTRONICS NV COMMON STOCK             | CUSIP: N/A<br>LEI: 213800Z8NOHIKRI42W10       | Long             | EC               |  | IT        |       189 | NS      | $6657.43      | 0.14%             |  |  |  | No            |                  1 | On Loan: No      |
| STANDARD CHARTERED PLC                                                                      | STANDARD CHARTERED PLC COMMON STOCK            | CUSIP: N/A<br>LEI: U4LOSYZ7YG4W3S5F2G91       | Long             | EC               |  | GB        |      1459 | NS      | $10923.37     | 0.22%             |  |  |  | No            |                  1 | On Loan: No      |
| TAYLOR WIMPEY PLC                                                                           | TAYLOR WIMPEY PLC COMMON STOCK                 | CUSIP: N/A<br>LEI: 21380089BTRXTD8S3R66       | Long             | EC               |  | GB        |      4475 | NS      | $5471.83      | 0.11%             |  |  |  | No            |                  1 | On Loan: No      |
| Roche Holding AG                                                                            | ROCHE HOLDING AG-GENUSSCHEIN COMMON STOCK      | CUSIP: N/A<br>LEI: 549300U41AUUVOAAOB37       | Long             | EC               |  | CH        |       178 | NS      | $55889.54     | 1.14%             |  |  |  | No            |                  1 | On Loan: No      |
| Ferrari N.V.                                                                                | FERRARI NV COMMON STOCK                        | CUSIP: N3167Y103<br>LEI: 549300RIVY5EX8RCON76 | Long             | EC               |  | IT        |        29 | NS      | $6196.22      | 0.13%             |  |  |  | No            |                  1 | On Loan: No      |
| INTESA SANPAOLO SPA                                                                         | INTESA SANPAOLO COMMON STOCK                   | CUSIP: N/A<br>LEI: 2W8N8UU78PMDQKZENC08       | Long             | EC               |  | IT        |      8208 | NS      | $18203.20     | 0.37%             |  |  |  | No            |                  1 | On Loan: No      |
| ENGIE SA                                                                                    | ENGIE COMMON STOCK                             | CUSIP: N/A<br>LEI: LAXUQCHT4FH58LRZDY46       | Long             | EC               |  | FR        |       731 | NS      | $10444.75     | 0.21%             |  |  |  | No            |                  1 | On Loan: No      |
| Swedbank AB                                                                                 | SWEDBANK AB - A SHARES COMMON STOCK            | CUSIP: N/A<br>LEI: M312WZV08Y7LYUC71685       | Long             | EC               |  | SE        |       512 | NS      | $8712.28      | 0.18%             |  |  |  | No            |                  1 | On Loan: No      |
| Alleima AB                                                                                  | ALLEIMA AB COMMON STOCK                        | CUSIP: N/A<br>LEI: 529900EBHTYGLA6PGP77       | Long             | EC               |  | SE        |       102 | NS      | $376.11       | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| Lonza Group AG                                                                              | LONZA GROUP AG-REG COMMON STOCK                | CUSIP: N/A<br>LEI: 549300EFW4H2TCZ71055       | Long             | EC               |  | CH        |        27 | NS      | $13222.76     | 0.27%             |  |  |  | No            |                  1 | On Loan: No      |
| Bayer Aktiengesellschaft                                                                    | BAYER AG-REG COMMON STOCK                      | CUSIP: N/A<br>LEI: 549300J4U55H3WP1XT59       | Long             | EC               |  | DE        |       286 | NS      | $14750.37     | 0.30%             |  |  |  | No            |                  1 | On Loan: No      |
| ICON PUBLIC LIMITED COMPANY                                                                 | ICON PLC COMMON STOCK                          | CUSIP: G4705A100<br>LEI: 6354008SRQGEMC4XFI67 | Long             | EC               |  | US        |        29 | NS      | $5633.25      | 0.12%             |  |  |  | No            |                  1 | On Loan: No      |
| ANHEUSER-BUSCH INBEV SA                                                                     | ANHEUSER-BUSCH INBEV SA/NV COMMON STOCK        | CUSIP: N/A<br>LEI: 5493008H3828EMEXB082       | Long             | EC               |  | BE        |       190 | NS      | $11410.26     | 0.23%             |  |  |  | No            |                  1 | On Loan: No      |
| SMITH & NEPHEW PLC                                                                          | SMITH & NEPHEW PLC COMMON STOCK                | CUSIP: N/A<br>LEI: 213800ZTMDN8S67S1H61       | Long             | EC               |  | GB        |       530 | NS      | $7073.51      | 0.14%             |  |  |  | No            |                  1 | On Loan: No      |
| BCE Inc.                                                                                    | BCE INC COMMON STOCK                           | CUSIP: 05534B760<br>LEI: 5493001I9203PRB5KR45 | Long             | EC               |  | CA        |       244 | NS      | $10712.99     | 0.22%             |  |  |  | No            |                  1 | On Loan: No      |
| SAP SE                                                                                      | SAP SE COMMON STOCK                            | CUSIP: N/A<br>LEI: 529900D6BF99LW9R2E68       | Long             | EC               |  | DE        |       262 | NS      | $26952.45     | 0.55%             |  |  |  | No            |                  1 | On Loan: No      |
| Hexagon Aktiebolag                                                                          | HEXAGON AB-B SHS COMMON STOCK                  | CUSIP: N/A<br>LEI: 549300WJFW6ILNI4TA80       | Long             | EC               |  | SE        |      1178 | NS      | $12323.24     | 0.25%             |  |  |  | No            |                  1 | On Loan: No      |
| Siemens Aktiengesellschaft                                                                  | SIEMENS AG-REG COMMON STOCK                    | CUSIP: N/A<br>LEI: W38RGI023J3WT1HWRP32       | Long             | EC               |  | DE        |       227 | NS      | $31407.25     | 0.64%             |  |  |  | No            |                  1 | On Loan: No      |
| ASHTEAD GROUP PUBLIC LIMITED COMPANY                                                        | ASHTEAD GROUP PLC COMMON STOCK                 | CUSIP: N/A<br>LEI: 2138007UTBN8X9K1A235       | Long             | EC               |  | GB        |       218 | NS      | $12377.42     | 0.25%             |  |  |  | No            |                  1 | On Loan: No      |
| Vonovia SE                                                                                  | VONOVIA SE COMMON STOCK                        | CUSIP: N/A<br>LEI: 5299005A2ZEP6AP7KM81       | Long             | EC               |  | DE        |       124 | NS      | $2914.10      | 0.06%             |  |  |  | No            |                  1 | On Loan: No      |
| SAFRAN SA                                                                                   | SAFRAN SA COMMON STOCK                         | CUSIP: N/A<br>LEI: 969500UIC89GT3UL7L24       | Long             | EC               |  | FR        |       115 | NS      | $14349.99     | 0.29%             |  |  |  | No            |                  1 | On Loan: No      |
| AXA SA                                                                                      | AXA SA COMMON STOCK                            | CUSIP: N/A<br>LEI: F5WCUMTUM4RKZ1MAIE39       | Long             | EC               |  | FR        |       664 | NS      | $18463.93     | 0.38%             |  |  |  | No            |                  1 | On Loan: No      |
| BANQUE DE MONTREAL                                                                          | BANK OF MONTREAL COMMON STOCK                  | CUSIP: 063671101<br>LEI: NQQ6HPCNCCU6TUTQYE16 | Long             | EC               |  | CA        |       263 | NS      | $23808.69     | 0.49%             |  |  |  | No            |                  1 | On Loan: No      |
| COMPAGNIE FINANCIERE RICHEMONT SA                                                           | CIE FINANCIERE RICHEMO-A REG COMMON STOCK      | CUSIP: N/A<br>LEI: 549300YIPGJ6UX2QPS51       | Long             | EC               |  | CH        |       137 | NS      | $17754.32     | 0.36%             |  |  |  | No            |                  1 | On Loan: No      |
| PRUDENTIAL PUBLIC LIMITED COMPANY                                                           | PRUDENTIAL PLC COMMON STOCK                    | CUSIP: N/A<br>LEI: 5493001Z3ZE83NGK8Y12       | Long             | EC               |  | GB        |       826 | NS      | $11202.85     | 0.23%             |  |  |  | No            |                  1 | On Loan: No      |
| ABB Ltd                                                                                     | ABB LTD-REG COMMON STOCK                       | CUSIP: N/A<br>LEI: 5493000LKVGOO9PELI61       | Long             | EC               |  | CH        |       619 | NS      | $18773.39     | 0.38%             |  |  |  | No            |                  1 | On Loan: No      |
| iShares MSCI Mexico ETF                                                                     | ISHARES MSCI MEXICO ETF MUTUAL FUND            | CUSIP: 464286822<br>LEI: N/A                  | Long             | EC               | RF                | US        |       528 | NS      | $26109.60     | 0.53%             |  |  |  | No            |                  1 | On Loan: No      |
| BASF SE                                                                                     | BASF SE COMMON STOCK                           | CUSIP: N/A<br>LEI: 529900PM64WH8AF1E917       | Long             | EC               |  | DE        |       308 | NS      | $15248.96     | 0.31%             |  |  |  | No            |                  1 | On Loan: No      |
| Deutsche Bank Aktiengesellschaft                                                            | DEUTSCHE BANK AG-REGISTERED COMMON STOCK       | CUSIP: N/A<br>LEI: 7LTWFZYICNSX8D621K86       | Long             | EC               |  | DE        |       791 | NS      | $8938.31      | 0.18%             |  |  |  | No            |                  1 | On Loan: No      |
| COMPAGNIE DE SAINT-GOBAIN SA                                                                | COMPAGNIE DE SAINT GOBAIN COMMON STOCK         | CUSIP: N/A<br>LEI: NFONVGN05Z0FMN5PEC35       | Long             | EC               |  | FR        |       189 | NS      | $9208.05      | 0.19%             |  |  |  | No            |                  1 | On Loan: No      |
| Holcim AG                                                                                   | HOLCIM LTD COMMON STOCK                        | CUSIP: N/A<br>LEI: 529900EHPFPYHV6IQO98       | Long             | EC               |  | CH        |       162 | NS      | $8383.66      | 0.17%             |  |  |  | No            |                  1 | On Loan: No      |
| H & M Hennes & Mauritz AB                                                                   | HENNES & MAURITZ AB-B SHS COMMON STOCK         | CUSIP: N/A<br>LEI: 529900O5RR7R39FRDM42       | Long             | EC               |  | SE        |       353 | NS      | $3802.55      | 0.08%             |  |  |  | No            |                  1 | On Loan: No      |
| LEGRAND SA                                                                                  | LEGRAND SA COMMON STOCK                        | CUSIP: N/A<br>LEI: 969500XXRPGD7HCAFA90       | Long             | EC               |  | FR        |       118 | NS      | $9422.47      | 0.19%             |  |  |  | No            |                  1 | On Loan: No      |
| GSK PLC                                                                                     | GSK PLC COMMON STOCK                           | CUSIP: N/A<br>LEI: 5493000HZTVUYLO1D793       | Long             | EC               |  | GB        |       950 | NS      | $16428.33     | 0.34%             |  |  |  | No            |                  1 | On Loan: No      |
| Atlas Copco Aktiebolag                                                                      | ATLAS COPCO AB-A SHS COMMON STOCK              | CUSIP: N/A<br>LEI: 213800T8PC8Q4FYJZR07       | Long             | EC               |  | SE        |      1368 | NS      | $16162.08     | 0.33%             |  |  |  | No            |                  1 | On Loan: No      |
| Neste Oyj                                                                                   | NESTE OYJ COMMON STOCK                         | CUSIP: N/A<br>LEI: 5493009GY1X8GQ66AM14       | Long             | EC               |  | FI        |       144 | NS      | $6611.47      | 0.14%             |  |  |  | No            |                  1 | On Loan: No      |
| BHP GROUP LIMITED                                                                           | BHP GROUP LTD-DI COMMON STOCK                  | CUSIP: N/A<br>LEI: WZE1WSENV6JSZFK0JC28       | Long             | EC               |  | GB        |       862 | NS      | $26648.46     | 0.55%             |  |  |  | No            |                  1 | On Loan: No      |
| DSV A/S                                                                                     | DSV A/S COMMON STOCK                           | CUSIP: N/A<br>LEI: 529900X41C0BSLK67H70       | Long             | EC               |  | DK        |        82 | NS      | $12903.98     | 0.26%             |  |  |  | No            |                  1 | On Loan: No      |
| BARCLAYS PLC                                                                                | BARCLAYS PLC COMMON STOCK                      | CUSIP: N/A<br>LEI: 213800LBQA1Y9L22JB70       | Long             | EC               |  | GB        |      7308 | NS      | $13935.24     | 0.29%             |  |  |  | No            |                  1 | On Loan: No      |
| Nutrien Ltd.                                                                                | NUTRIEN LTD COMMON STOCK                       | CUSIP: 67077M108<br>LEI: 5493002QQ7GD21OWF963 | Long             | EC               |  | CA        |       298 | NS      | $21740.51     | 0.44%             |  |  |  | No            |                  1 | On Loan: No      |
| iShares MSCI Austria ETF                                                                    | ISHARES MSCI AUSTRIA ETF MUTUAL FUND           | CUSIP: 464286202<br>LEI: N/A                  | Long             | EC               | RF                | US        |      1531 | NS      | $29089.00     | 0.60%             |  |  |  | No            |                  1 | On Loan: No      |
| Heineken N.V.                                                                               | HEINEKEN NV COMMON STOCK                       | CUSIP: N/A<br>LEI: 724500K5PTPSST86UQ23       | Long             | EC               |  | NL        |        91 | NS      | $8534.86      | 0.17%             |  |  |  | No            |                  1 | On Loan: No      |
| CHEMIN DE FER CANADIEN PACIFIQUE LIMITEE                                                    | CANADIAN PACIFIC RAILWAY LTD COMMON STOCK      | CUSIP: 13645T100<br>LEI: N/A                  | Long             | EC               |  | CA        |       223 | NS      | $16614.52     | 0.34%             |  |  |  | No            |                  1 | On Loan: No      |
| SUN LIFE FINANCIAL INC                                                                      | SUN LIFE FINANCIAL INC COMMON STOCK            | CUSIP: 866796105<br>LEI: 549300V040JZX5S66Z78 | Long             | EC               |  | CA        |       262 | NS      | $12152.99     | 0.25%             |  |  |  | No            |                  1 | On Loan: No      |
| MONDI PLC                                                                                   | MONDI PLC COMMON STOCK                         | CUSIP: N/A<br>LEI: 213800LOZA69QFDC9N34       | Long             | EC               |  | GB        |       280 | NS      | $4747.39      | 0.10%             |  |  |  | No            |                  1 | On Loan: No      |
| iShares MSCI Israel ETF                                                                     | ISHARES MSCI ISRAEL ETF MUTUAL FUND            | CUSIP: 464286632<br>LEI: N/A                  | Long             | EC               | RF                | US        |       671 | NS      | $37569.29     | 0.77%             |  |  |  | No            |                  1 | On Loan: No      |
| ESSILORLUXOTTICA SA                                                                         | ESSILORLUXOTTICA COMMON STOCK                  | CUSIP: N/A<br>LEI: 549300M3VH1A3ER1TB49       | Long             | EC               |  | FR        |        90 | NS      | $16252.04     | 0.33%             |  |  |  | No            |                  1 | On Loan: No      |
| BP P.L.C.                                                                                   | BP PLC COMMON STOCK                            | CUSIP: N/A<br>LEI: 213800LH1BZH3DI6G760       | Long             | EC               |  | GB        |      5906 | NS      | $33738.62     | 0.69%             |  |  |  | No            |                  1 | On Loan: No      |
| DASSAULT SYSTEMES SE                                                                        | DASSAULT SYSTEMES SE COMMON STOCK              | CUSIP: N/A<br>LEI: 96950065LBWY0APQIM86       | Long             | EC               |  | FR        |       233 | NS      | $8329.16      | 0.17%             |  |  |  | No            |                  1 | On Loan: No      |
| ASML Holding N.V.                                                                           | ASML HOLDING NV COMMON STOCK                   | CUSIP: N/A<br>LEI: 724500Y6DUVHQD6OXN27       | Long             | EC               |  | NL        |       108 | NS      | $58069.35     | 1.19%             |  |  |  | No            |                  1 | On Loan: No      |
| Vanguard FTSE Emerging Markets Shares ETF AUD                                               | VANGUARD FTSE EMERGING MARKE MUTUAL FUND       | CUSIP: 922042858<br>LEI: N/A                  | Long             | EC               | RF                | US        |      8376 | NS      | $326496.48    | 6.68%             |  |  |  | No            |                  1 | On Loan: No      |
| TC Energy Corporation                                                                       | TC ENERGY CORP COMMON STOCK                    | CUSIP: 87807B107<br>LEI: 549300UGKOFV2IWJJG27 | Long             | EC               |  | CA        |       331 | NS      | $13186.74     | 0.27%             |  |  |  | No            |                  1 | On Loan: No      |
| DIAGEO PLC                                                                                  | DIAGEO PLC COMMON STOCK                        | CUSIP: N/A<br>LEI: 213800ZVIELEA55JMJ32       | Long             | EC               |  | GB        |       704 | NS      | $30909.88     | 0.63%             |  |  |  | No            |                  1 | On Loan: No      |
| Enbridge Inc.                                                                               | ENBRIDGE INC COMMON STOCK                      | CUSIP: 29250N105<br>LEI: 98TPTUM4IVMFCZBCUR27 | Long             | EC               |  | CA        |       646 | NS      | $25230.69     | 0.52%             |  |  |  | No            |                  1 | On Loan: No      |
| Alcon AG                                                                                    | ALCON INC COMMON STOCK                         | CUSIP: N/A<br>LEI: 549300LDT5AP8S0NBM78       | Long             | EC               |  | CH        |       178 | NS      | $12155.25     | 0.25%             |  |  |  | No            |                  1 | On Loan: No      |
| iShares MSCI India ETF                                                                      | ISHARES MSCI INDIA ETF MUTUAL FUND             | CUSIP: 46429B598<br>LEI: N/A                  | Long             | EC               | RF                | US        |      3146 | NS      | $131314.04    | 2.69%             |  |  |  | No            |                  1 | On Loan: No      |
| COMPASS GROUP PLC                                                                           | COMPASS GROUP PLC COMMON STOCK                 | CUSIP: N/A<br>LEI: 2138008M6MH9OZ6U2T68       | Long             | EC               |  | GB        |       659 | NS      | $15200.32     | 0.31%             |  |  |  | No            |                  1 | On Loan: No      |
| Castellum Aktiebolag                                                                        | CASTELLUM AB COMMON STOCK                      | CUSIP: N/A<br>LEI: 549300GU5OHTR1T5IY68       | Long             | EC               |  | SE        |       233 | NS      | $2823.19      | 0.06%             |  |  |  | No            |                  1 | On Loan: No      |
| Suncor Energy Inc.                                                                          | SUNCOR ENERGY INC COMMON STOCK                 | CUSIP: 867224107<br>LEI: 549300W70ZOQDVLCHY06 | Long             | EC               |  | CA        |       610 | NS      | $19336.14     | 0.40%             |  |  |  | No            |                  1 | On Loan: No      |
| GLENCORE PLC                                                                                | GLENCORE PLC COMMON STOCK                      | CUSIP: G39420107<br>LEI: 2138002658CPO9NBH955 | Long             | EC               |  | GB        |      4481 | NS      | $29775.59     | 0.61%             |  |  |  | No            |                  1 | On Loan: No      |
| Bayerische Motoren Werke Aktiengesellschaft                                                 | BAYERISCHE MOTOREN WERKE AG COMMON STOCK       | CUSIP: N/A<br>LEI: YEH5ZCD6E441RHVHD759       | Long             | EC               |  | DE        |       109 | NS      | $9699.59      | 0.20%             |  |  |  | No            |                  1 | On Loan: No      |
| Ishares MSCI Taiwan Index Fund                                                              | ISHARES MSCI TAIWAN ETF MUTUAL FUND            | CUSIP: 46434G772<br>LEI: N/A                  | Long             | EC               | RF                | US        |      4063 | NS      | $163170.08    | 3.34%             |  |  |  | No            |                  1 | On Loan: No      |
| Accelleron Industries Ltd                                                                   | ACCELLERON INDUSTRIES AG COMMON STOCK          | CUSIP: N/A<br>LEI: 254900KS0MD2PAARXD14       | Long             | EC               |  | CH        |        30 | NS      | $620.78       | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| Deutsche Post AG                                                                            | DEUTSCHE POST AG-REG COMMON STOCK              | CUSIP: N/A<br>LEI: 8ER8GIG7CSMVD8VUFE78       | Long             | EC               |  | DE        |       272 | NS      | $10212.45     | 0.21%             |  |  |  | No            |                  1 | On Loan: No      |
| Evolution AB (publ)                                                                         | EVOLUTION AB COMMON STOCK                      | CUSIP: N/A<br>LEI: 549300SUH6ZR1RF6TA88       | Long             | EC               |  | SE        |        80 | NS      | $7796.15      | 0.16%             |  |  |  | Yes           |                  1 | On Loan: No      |
| INFORMA PLC                                                                                 | INFORMA PLC COMMON STOCK                       | CUSIP: N/A<br>LEI: 5493006VM2LKUPSEDU20       | Long             | EC               |  | GB        |      1259 | NS      | $9383.58      | 0.19%             |  |  |  | No            |                  1 | On Loan: No      |
| Fresenius SE & Co. KGaA                                                                     | FRESENIUS SE & CO KGAA COMMON STOCK            | CUSIP: N/A<br>LEI: XDFJ0CYCOO1FXRFTQS51       | Long             | EC               |  | DE        |       180 | NS      | $5042.74      | 0.10%             |  |  |  | No            |                  1 | On Loan: No      |
| iShares MSCI China ETF                                                                      | ISHARES MSCI CHINA ETF MUTUAL FUND             | CUSIP: 46429B671<br>LEI: N/A                  | Long             | EC               | RF                | US        |       463 | NS      | $21992.50     | 0.45%             |  |  |  | No            |                  1 | On Loan: No      |
| Deutsche Wohnen SE                                                                          | DEUTSCHE WOHNEN SE COMMON STOCK                | CUSIP: N/A<br>LEI: 529900QE24Q67I3FWZ10       | Long             | EC               |  | DE        |        97 | NS      | $2058.56      | 0.04%             |  |  |  | No            |                  1 | On Loan: No      |
| Henkel AG & Co. KGaA                                                                        | Henkel AG & Co KGaA PREFERRED STOCK            | CUSIP: N/A<br>LEI: 549300VZCL1HTH4O4Y49       | Long             | EP               |  | DE        |        97 | NS      | $6731.06      | 0.14%             |  |  |  | No            |                  1 | On Loan: No      |
| TotalEnergies SE                                                                            | TOTALENERGIES SE COMMON STOCK                  | CUSIP: N/A<br>LEI: 529900S21EQ1BO4ESM68       | Long             | EC               |  | FR        |       656 | NS      | $41061.70     | 0.84%             |  |  |  | No            |                  1 | On Loan: No      |
| Orsted A/S                                                                                  | ORSTED A/S COMMON STOCK                        | CUSIP: N/A<br>LEI: W9NG6WMZIYEU8VEDOG48       | Long             | EC               |  | DK        |        89 | NS      | $8063.56      | 0.17%             |  |  |  | Yes           |                  1 | On Loan: No      |
| LA BANQUE TORONTO-DOMINION                                                                  | TORONTO-DOMINION BANK COMMON STOCK             | CUSIP: 891160509<br>LEI: PT3QB789TSUIDF371261 | Long             | EC               |  | CA        |       541 | NS      | $35004.59     | 0.72%             |  |  |  | No            |                  1 | On Loan: No      |
| SHOPIFY INC.                                                                                | SHOPIFY INC - CLASS A COMMON STOCK             | CUSIP: 82509L107<br>LEI: 549300HGQ43STJLLP808 | Long             | EC               |  | CA        |       290 | NS      | $10061.55     | 0.21%             |  |  |  | No            |                  1 | On Loan: No      |
| VINCI SA                                                                                    | VINCI SA COMMON STOCK                          | CUSIP: N/A<br>LEI: 213800WFQ334R8UXUG83       | Long             | EC               |  | FR        |       216 | NS      | $21505.72     | 0.44%             |  |  |  | No            |                  1 | On Loan: No      |
| Swiss Re AG                                                                                 | SWISS RE AG COMMON STOCK                       | CUSIP: N/A<br>LEI: 529900PS9YW3YY29F326       | Long             | EC               |  | CH        |        90 | NS      | $8412.45      | 0.17%             |  |  |  | No            |                  1 | On Loan: No      |
| Airbus SE                                                                                   | AIRBUS SE COMMON STOCK                         | CUSIP: N/A<br>LEI: MINO79WLOO247M1IL051       | Long             | EC               |  | FR        |       190 | NS      | $22512.30     | 0.46%             |  |  |  | No            |                  1 | On Loan: No      |
| CRODA INTERNATIONAL PUBLIC LIMITED COMPANY                                                  | CRODA INTERNATIONAL PLC COMMON STOCK           | CUSIP: N/A<br>LEI: 2138004WCNBFJEEOXV26       | Long             | EC               |  | GB        |       110 | NS      | $8738.39      | 0.18%             |  |  |  | No            |                  1 | On Loan: No      |
| DANONE SA                                                                                   | DANONE COMMON STOCK                            | CUSIP: N/A<br>LEI: 969500KMUQ2B6CBAF162       | Long             | EC               |  | FR        |       190 | NS      | $9982.71      | 0.20%             |  |  |  | No            |                  1 | On Loan: No      |
| Deutsche Telekom AG                                                                         | DEUTSCHE TELEKOM AG-REG COMMON STOCK           | CUSIP: N/A<br>LEI: 549300V9QSIG4WX4GJ96       | Long             | EC               |  | DE        |      1017 | NS      | $20229.51     | 0.41%             |  |  |  | No            |                  1 | On Loan: No      |
| Delivery Hero SE                                                                            | DELIVERY HERO SE COMMON STOCK                  | CUSIP: N/A<br>LEI: 529900C3EX1FZGE48X78       | Long             | EC               |  | DE        |        52 | NS      | $2485.15      | 0.05%             |  |  |  | Yes           |                  1 | On Loan: No      |
| Wolters Kluwer N.V.                                                                         | WOLTERS KLUWER COMMON STOCK                    | CUSIP: N/A<br>LEI: 724500TEM53I0U077B74       | Long             | EC               |  | NL        |       108 | NS      | $11268.08     | 0.23%             |  |  |  | No            |                  1 | On Loan: No      |
| Kinnevik AB                                                                                 | KINNEVIK AB - B COMMON STOCK                   | CUSIP: N/A<br>LEI: 2138006PZH76JOS6MN27       | Long             | EC               |  | SE        |       143 | NS      | $1965.32      | 0.04%             |  |  |  | No            |                  1 | On Loan: No      |
| Infineon Technologies AG                                                                    | INFINEON TECHNOLOGIES AG COMMON STOCK          | CUSIP: N/A<br>LEI: TSI2PJM6EPETEQ4X1U25       | Long             | EC               |  | DE        |       361 | NS      | $10953.40     | 0.22%             |  |  |  | No            |                  1 | On Loan: No      |
| RWE Aktiengesellschaft                                                                      | RWE AG COMMON STOCK                            | CUSIP: N/A<br>LEI: 529900GB7KCA94ACC940       | Long             | EC               |  | DE        |       315 | NS      | $13981.85     | 0.29%             |  |  |  | No            |                  1 | On Loan: No      |
| CANADIAN NATURAL RESOURCES LIMITED                                                          | CANADIAN NATURAL RESOURCES COMMON STOCK        | CUSIP: 136385101<br>LEI: 549300T15RIMIKZC5Q38 | Long             | EC               |  | CA        |       550 | NS      | $30521.05     | 0.62%             |  |  |  | No            |                  1 | On Loan: No      |
| CGI INC.                                                                                    | CGI INC COMMON STOCK                           | CUSIP: 12532H104<br>LEI: 549300WSRCZY73ZG3090 | Long             | EC               |  | CA        |       110 | NS      | $9474.96      | 0.19%             |  |  |  | No            |                  1 | On Loan: No      |
| Deutsche Boerse Aktiengesellschaft                                                          | DEUTSCHE BOERSE AG COMMON STOCK                | CUSIP: N/A<br>LEI: 529900G3SW56SHYNPR95       | Long             | EC               |  | DE        |        61 | NS      | $10507.48     | 0.22%             |  |  |  | No            |                  1 | On Loan: No      |
| LEGAL & GENERAL GROUP PLC                                                                   | LEGAL & GENERAL GROUP PLC COMMON STOCK         | CUSIP: N/A<br>LEI: 213800JH9QQWHLO99821       | Long             | EC               |  | GB        |      2718 | NS      | $8157.40      | 0.17%             |  |  |  | No            |                  1 | On Loan: No      |
| EUROAPI SAS                                                                                 | EUROAPI SASU COMMON STOCK                      | CUSIP: N/A<br>LEI: 9695002FT7GGI3CKKJ14       | Long             | EC               |  | FR        |        10 | NS      | $147.81       | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| U.S. DOLLARS                                                                                | FX Forward Contract: USD/CAD SETTLE 2023-01-03 | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | US        |         1 | NC      | $-0.30        | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| Telefonaktiebolaget LM Ericsson                                                             | ERICSSON LM-B SHS COMMON STOCK                 | CUSIP: N/A<br>LEI: 549300W9JLPW15XIFM52       | Long             | EC               |  | SE        |       981 | NS      | $5733.76      | 0.12%             |  |  |  | No            |                  1 | On Loan: No      |
| iShares MSCI Chile ETF                                                                      | ISHARES MSCI CHILE ETF MUTUAL FUND             | CUSIP: 464286640<br>LEI: N/A                  | Long             | EC               | RF                | US        |       143 | NS      | $3873.87      | 0.08%             |  |  |  | No            |                  1 | On Loan: No      |
| UNILEVER PLC                                                                                | UNILEVER PLC COMMON STOCK                      | CUSIP: N/A<br>LEI: 549300MKFYEKVRWML317       | Long             | EC               |  | GB        |       657 | NS      | $33050.74     | 0.68%             |  |  |  | No            |                  1 | On Loan: No      |
| Iberdrola, S.A.                                                                             | IBERDROLA SA COMMON STOCK                      | CUSIP: N/A<br>LEI: 5QK37QC7NWOJ8D7WVQ45       | Long             | EC               |  | ES        |      1978 | NS      | $23073.39     | 0.47%             |  |  |  | No            |                  1 | On Loan: No      |
| Volkswagen Aktiengesellschaft                                                               | Volkswagen AG PREFERRED STOCK                  | CUSIP: N/A<br>LEI: 529900NNUPAGGOMPXZ31       | Long             | EP               |  | DE        |        72 | NS      | $8945.92      | 0.18%             |  |  |  | No            |                  1 | On Loan: No      |
| Zalando SE                                                                                  | ZALANDO SE COMMON STOCK                        | CUSIP: N/A<br>LEI: 529900YRFFGH5AXU4S86       | Long             | EC               |  | DE        |        90 | NS      | $3180.29      | 0.07%             |  |  |  | Yes           |                  1 | On Loan: No      |
| ANGLO AMERICAN PLC                                                                          | ANGLO AMERICAN PLC COMMON STOCK                | CUSIP: N/A<br>LEI: 549300S9XF92D1X8ME43       | Long             | EC               |  | GB        |       459 | NS      | $17869.82     | 0.37%             |  |  |  | No            |                  1 | On Loan: No      |
| SNAM S.P.A.                                                                                 | SNAM SPA COMMON STOCK                          | CUSIP: N/A<br>LEI: 8156002278562044AF79       | Long             | EC               |  | IT        |      2142 | NS      | $10348.92     | 0.21%             |  |  |  | No            |                  1 | On Loan: No      |
| LLOYDS BANKING GROUP PLC                                                                    | LLOYDS BANKING GROUP PLC COMMON STOCK          | CUSIP: N/A<br>LEI: 549300PPXHEU2JF0AM85       | Long             | EC               |  | GB        |     26107 | NS      | $14260.68     | 0.29%             |  |  |  | No            |                  1 | On Loan: No      |
| Rogers Communications Inc.                                                                  | ROGERS COMMUNICATIONS INC-B COMMON STOCK       | CUSIP: 775109200<br>LEI: 54930030NVF3Y2OL0A78 | Long             | EC               |  | CA        |       182 | NS      | $8512.00      | 0.17%             |  |  |  | No            |                  1 | On Loan: No      |
| Investor Aktiebolag                                                                         | INVESTOR AB-B SHS COMMON STOCK                 | CUSIP: N/A<br>LEI: 549300VEBQPHRZBKUX38       | Long             | EC               |  | SE        |       935 | NS      | $16920.54     | 0.35%             |  |  |  | No            |                  1 | On Loan: No      |
| BAE SYSTEMS PLC                                                                             | BAE SYSTEMS PLC COMMON STOCK                   | CUSIP: N/A<br>LEI: 8SVCSVKSGDWMW2QHOH83       | Long             | EC               |  | GB        |      1234 | NS      | $12706.35     | 0.26%             |  |  |  | No            |                  1 | On Loan: No      |
| L'AIR LIQUIDE SOCIETE ANONYME POUR L'ETUDE ET L'EXPLOITATION DES PROCEDES GEORGES CLAUDE SA | AIR LIQUIDE SA COMMON STOCK                    | CUSIP: N/A<br>LEI: 969500MMPQVHK671GT54       | Long             | EC               |  | FR        |       139 | NS      | $19641.19     | 0.40%             |  |  |  | No            |                  1 | On Loan: No      |
| Vanguard Pacific Stock Index Fund                                                           | VANGUARD FTSE PACIFIC ETF MUTUAL FUND          | CUSIP: 922042866<br>LEI: N/A                  | Long             | EC               | RF                | US        |     19194 | NS      | $1235133.90   | 25.27%            |  |  |  | No            |                  1 | On Loan: No      |
| KONE Oyj                                                                                    | KONE OYJ-B COMMON STOCK                        | CUSIP: N/A<br>LEI: 2138001CNF45JP5XZK38       | Long             | EC               |  | FI        |       127 | NS      | $6546.60      | 0.13%             |  |  |  | No            |                  1 | On Loan: No      |
| NOVO NORDISK A/S                                                                            | NOVO NORDISK A/S-B COMMON STOCK                | CUSIP: N/A<br>LEI: 549300DAQ1CVT6CXN342       | Long             | EC               |  | DK        |       441 | NS      | $59366.66     | 1.21%             |  |  |  | No            |                  1 | On Loan: No      |
| LONDON STOCK EXCHANGE GROUP PLC                                                             | LONDON STOCK EXCHANGE GROUP COMMON STOCK       | CUSIP: N/A<br>LEI: 213800QAUUUP6I445N30       | Long             | EC               |  | GB        |       126 | NS      | $10815.76     | 0.22%             |  |  |  | No            |                  1 | On Loan: No      |
| Koninklijke Ahold Delhaize N.V.                                                             | KONINKLIJKE AHOLD DELHAIZE N COMMON STOCK      | CUSIP: N/A<br>LEI: 724500C9GNBV20UYRX36       | Long             | EC               |  | NL        |       470 | NS      | $13463.11     | 0.28%             |  |  |  | No            |                  1 | On Loan: No      |
| Zurich Insurance Group AG                                                                   | ZURICH INSURANCE GROUP AG COMMON STOCK         | CUSIP: N/A<br>LEI: 529900QVNRBND50TXP03       | Long             | EC               |  | CH        |        37 | NS      | $17688.18     | 0.36%             |  |  |  | No            |                  1 | On Loan: No      |
| NATIONAL GRID PLC                                                                           | NATIONAL GRID PLC COMMON STOCK                 | CUSIP: N/A<br>LEI: 8R95QZMKZLJX5Q2XR704       | Long             | EC               |  | GB        |      1316 | NS      | $15789.08     | 0.32%             |  |  |  | No            |                  1 | On Loan: No      |
| iShares MSCI Poland ETF                                                                     | ISHARES MSCI POLAND ETF MUTUAL FUND            | CUSIP: 46429B606<br>LEI: N/A                  | Long             | EC               | RF                | US        |      1110 | NS      | $17160.60     | 0.35%             |  |  |  | No            |                  1 | On Loan: No      |
| Fortis Inc.                                                                                 | FORTIS INC COMMON STOCK                        | CUSIP: 349553107<br>LEI: 549300MQYQ9Y065XPR71 | Long             | EC               |  | CA        |       295 | NS      | $11796.08     | 0.24%             |  |  |  | No            |                  1 | On Loan: No      |
| Essity Aktiebolag (publ)                                                                    | ESSITY AKTIEBOLAG-B COMMON STOCK               | CUSIP: N/A<br>LEI: 549300G8E6YUVJ1DA153       | Long             | EC               |  | SE        |       342 | NS      | $8970.55      | 0.18%             |  |  |  | No            |                  1 | On Loan: No      |
| iShares MSCI Thailand ETF                                                                   | ISHARES MSCI THAILAND ETF MUTUAL FUND          | CUSIP: 464286624<br>LEI: N/A                  | Long             | EC               | RF                | US        |       338 | NS      | $25414.22     | 0.52%             |  |  |  | No            |                  1 | On Loan: No      |
| Ishares Msci Australia Inc                                                                  | ISHARES MSCI AUSTRALIA ETF MUTUAL FUND         | CUSIP: 464286103<br>LEI: N/A                  | Long             | EC               | RF                | US        |      2727 | NS      | $60621.21     | 1.24%             |  |  |  | No            |                  1 | On Loan: No      |
| BRITISH AMERICAN TOBACCO P.L.C.                                                             | BRITISH AMERICAN TOBACCO PLC COMMON STOCK      | CUSIP: N/A<br>LEI: 213800FKA5MF17RJKT63       | Long             | EC               |  | GB        |       631 | NS      | $24907.70     | 0.51%             |  |  |  | No            |                  1 | On Loan: No      |
| HALEON PLC                                                                                  | HALEON PLC COMMON STOCK                        | CUSIP: N/A<br>LEI: 549300PSB3WWEODCUP19       | Long             | EC               |  | GB        |      1188 | NS      | $4678.01      | 0.10%             |  |  |  | No            |                  1 | On Loan: No      |
| THE BANK OF NOVA SCOTIA                                                                     | BANK OF NOVA SCOTIA COMMON STOCK               | CUSIP: 064149107<br>LEI: L3I9ZG2KFGXZ61BMYR72 | Long             | EC               |  | CA        |       397 | NS      | $19437.60     | 0.40%             |  |  |  | No            |                  1 | On Loan: No      |
| BNP PARIBAS SA                                                                              | BNP PARIBAS COMMON STOCK                       | CUSIP: N/A<br>LEI: R0MUWSFPU8MPRO8K5P83       | Long             | EC               |  | FR        |       370 | NS      | $21027.44     | 0.43%             |  |  |  | No            |                  1 | On Loan: No      |
| ENI S.P.A.                                                                                  | ENI SPA COMMON STOCK                           | CUSIP: N/A<br>LEI: BUCRF72VH5RBN7X3VL35       | Long             | EC               |  | IT        |      1170 | NS      | $16589.95     | 0.34%             |  |  |  | No            |                  1 | On Loan: No      |
| iShares MSCI Japan ETF                                                                      | ISHARES MSCI JAPAN ETF MUTUAL FUND             | CUSIP: 46434G822<br>LEI: N/A                  | Long             | EC               | RF                | US        |      2122 | NS      | $115521.68    | 2.36%             |  |  |  | No            |                  1 | On Loan: No      |
| MINES AGNICO EAGLE LIMITEE                                                                  | AGNICO EAGLE MINES LTD COMMON STOCK            | CUSIP: 008474108<br>LEI: YGE0EUBRF7IJOB3QRX76 | Long             | EC               |  | CA        |       134 | NS      | $6958.37      | 0.14%             |  |  |  | No            |                  1 | On Loan: No      |
| SOCIETE AURIFERE BARRICK                                                                    | BARRICK GOLD CORP COMMON STOCK                 | CUSIP: 067901108<br>LEI: 0O4KBQCJZX82UKGCBV73 | Long             | EC               |  | CA        |       604 | NS      | $10346.39     | 0.21%             |  |  |  | No            |                  1 | On Loan: No      |
| MANULIFE FINANCIAL CORP                                                                     | MANULIFE FINANCIAL CORP COMMON STOCK           | CUSIP: 56501R106<br>LEI: 5493007GBX87QOZACS27 | Long             | EC               |  | CA        |       881 | NS      | $15702.54     | 0.32%             |  |  |  | No            |                  1 | On Loan: No      |
| GENMAB A/S                                                                                  | GENMAB A/S COMMON STOCK                        | CUSIP: N/A<br>LEI: 529900MTJPDPE4MHJ122       | Long             | EC               |  | DK        |        29 | NS      | $12240.36     | 0.25%             |  |  |  | No            |                  1 | On Loan: No      |
| BANQUE ROYALE DU CANADA                                                                     | ROYAL BANK OF CANADA COMMON STOCK              | CUSIP: 780087102<br>LEI: ES7IP3U3RHIGC71XBU11 | Long             | EC               |  | CA        |       430 | NS      | $40399.28     | 0.83%             |  |  |  | No            |                  1 | On Loan: No      |
| Telefonica S.A.                                                                             | TELEFONICA SA COMMON STOCK                     | CUSIP: 879382109<br>LEI: 549300EEJH4FEPDBBR25 | Long             | EC               |  | ES        |      1935 | NS      | $6990.45      | 0.14%             |  |  |  | No            |                  1 | On Loan: No      |
| Sandvik Aktiebolag                                                                          | SANDVIK AB COMMON STOCK                        | CUSIP: N/A<br>LEI: 5299008ZUAXN43LVZF54       | Long             | EC               |  | SE        |       512 | NS      | $9257.72      | 0.19%             |  |  |  | No            |                  1 | On Loan: No      |
| AGEAS SA                                                                                    | AGEAS COMMON STOCK                             | CUSIP: N/A<br>LEI: 5493005DJBML6LY3RV36       | Long             | EC               |  | BE        |       106 | NS      | $4685.77      | 0.10%             |  |  |  | No            |                  1 | On Loan: No      |
| HSBC HOLDINGS PLC                                                                           | HSBC HOLDINGS PLC COMMON STOCK                 | CUSIP: N/A<br>LEI: MLU0ZO3ML4LN2LL2TL39       | Long             | EC               |  | GB        |      5704 | NS      | $35384.12     | 0.72%             |  |  |  | No            |                  1 | On Loan: No      |
| Ishares Msci Malaysia                                                                       | ISHARES MSCI MALAYSIA ETF MUTUAL FUND          | CUSIP: 46434G814<br>LEI: N/A                  | Long             | EC               | RF                | US        |       662 | NS      | $15120.08     | 0.31%             |  |  |  | No            |                  1 | On Loan: No      |
| TELUS Corporation                                                                           | TELUS CORP COMMON STOCK                        | CUSIP: 87971M103<br>LEI: L2TEUTQ8OSHMJWVLCE40 | Long             | EC               |  | CA        |       497 | NS      | $9584.57      | 0.20%             |  |  |  | No            |                  1 | On Loan: No      |
| WOODSIDE ENERGY GROUP LTD                                                                   | WOODSIDE ENERGY GROUP LTD COMMON STOCK         | CUSIP: N/A<br>LEI: 2549005ZC5RXAOO7FH41       | Long             | EC               |  | GB        |       155 | NS      | $3710.36      | 0.08%             |  |  |  | No            |                  1 | On Loan: No      |
| Stellantis N.V.                                                                             | STELLANTIS NV COMMON STOCK                     | CUSIP: N/A<br>LEI: 549300LKT9PW7ZIBDF31       | Long             | EC               |  | IT        |       739 | NS      | $10461.26     | 0.21%             |  |  |  | No            |                  1 | On Loan: No      |
| SSE PLC                                                                                     | SSE PLC COMMON STOCK                           | CUSIP: N/A<br>LEI: 549300KI75VYLLMSK856       | Long             | EC               |  | GB        |       504 | NS      | $10379.25     | 0.21%             |  |  |  | No            |                  1 | On Loan: No      |
| CAPGEMINI SE                                                                                | CAPGEMINI SE COMMON STOCK                      | CUSIP: N/A<br>LEI: 96950077L0TN7BAROX36       | Long             | EC               |  | FR        |        55 | NS      | $9154.05      | 0.19%             |  |  |  | No            |                  1 | On Loan: No      |
| BioNTech SE                                                                                 | BIONTECH SE-ADR DEPOSITARY RECEIPT             | CUSIP: 09075V102<br>LEI: 894500UZJ5LG1F8J1U58 | Long             | EC               |  | US        |        20 | NS      | $3004.40      | 0.06%             |  |  |  | No            |                  1 | On Loan: No      |
| Brookfield Corporation                                                                      | BROOKFIELD CORP COMMON STOCK                   | CUSIP: 11271J107<br>LEI: C6J3FGIWG6MBDGTE8F80 | Long             | EC               |  | CA        |       406 | NS      | $12758.76     | 0.26%             |  |  |  | No            |                  1 | On Loan: No      |
| FLUTTER ENTERTAINMENT PUBLIC LIMITED COMPANY                                                | FLUTTER ENTERTAINMENT PLC-DI COMMON STOCK      | CUSIP: N/A<br>LEI: 635400EG4YIJLJMZJ782       | Long             | EC               |  | IE        |        70 | NS      | $9547.59      | 0.20%             |  |  |  | No            |                  1 | On Loan: No      |
| VODAFONE GROUP PUBLIC LIMITED COMPANY                                                       | VODAFONE GROUP PLC COMMON STOCK                | CUSIP: N/A<br>LEI: 213800TB53ELEUKM7Q61       | Long             | EC               |  | GB        |      9316 | NS      | $9440.17      | 0.19%             |  |  |  | No            |                  1 | On Loan: No      |
| SHELL PLC                                                                                   | SHELL PLC COMMON STOCK                         | CUSIP: N/A<br>LEI: 21380068P1DRHMJ8KU70       | Long             | EC               |  | GB        |      2475 | NS      | $69249.51     | 1.42%             |  |  |  | No            |                  1 | On Loan: No      |
| EXPERIAN PLC                                                                                | EXPERIAN PLC COMMON STOCK                      | CUSIP: N/A<br>LEI: 635400RXXHHYT1JTSZ26       | Long             | EC               |  | GB        |       308 | NS      | $10422.03     | 0.21%             |  |  |  | No            |                  1 | On Loan: No      |
| Aktiebolaget Volvo                                                                          | VOLVO AB-B SHS COMMON STOCK                    | CUSIP: 928856301<br>LEI: 549300HGV012CNC8JD22 | Long             | EC               |  | SE        |       632 | NS      | $11432.35     | 0.23%             |  |  |  | No            |                  1 | On Loan: No      |
| VESTAS WIND SYSTEMS A/S                                                                     | VESTAS WIND SYSTEMS A/S COMMON STOCK           | CUSIP: N/A<br>LEI: 549300DYMC8BGZZC8844       | Long             | EC               |  | DK        |       406 | NS      | $11775.88     | 0.24%             |  |  |  | No            |                  1 | On Loan: No      |
| Nordea Bank Abp                                                                             | NORDEA BANK ABP COMMON STOCK                   | CUSIP: N/A<br>LEI: 529900ODI3047E2LIV03       | Long             | EC               |  | FI        |      1160 | NS      | $12417.21     | 0.25%             |  |  |  | No            |                  1 | On Loan: No      |
| ADIDAS AG                                                                                   | ADIDAS AG COMMON STOCK                         | CUSIP: N/A<br>LEI: 549300JSX0Z4CW0V5023       | Long             | EC               |  | DE        |        46 | NS      | $6257.44      | 0.13%             |  |  |  | No            |                  1 | On Loan: No      |
| Sika AG                                                                                     | SIKA AG-REG COMMON STOCK                       | CUSIP: N/A<br>LEI: 549300R3N69ECGYPU434       | Long             | EC               |  | CH        |        52 | NS      | $12460.44     | 0.25%             |  |  |  | No            |                  1 | On Loan: No      |
| Daimler Truck Holding AG                                                                    | DAIMLER TRUCK HOLDING AG COMMON STOCK          | CUSIP: N/A<br>LEI: 529900PW78JIYOUBSR24       | Long             | EC               |  | DE        |       118 | NS      | $3645.19      | 0.07%             |  |  |  | No            |                  1 | On Loan: No      |
| Industria de Diseno Textil, S.A.                                                            | INDUSTRIA DE DISENO TEXTIL COMMON STOCK        | CUSIP: E6282N100<br>LEI: 549300TTCXZOGZM2EY83 | Long             | EC               |  | ES        |       371 | NS      | $9839.33      | 0.20%             |  |  |  | No            |                  1 | On Loan: No      |
| RELX PLC                                                                                    | RELX PLC COMMON STOCK                          | CUSIP: N/A<br>LEI: 549300WSX3VBUFFJOO66       | Long             | EC               |  | GB        |       650 | NS      | $17889.62     | 0.37%             |  |  |  | No            |                  1 | On Loan: No      |
| Novartis AG                                                                                 | NOVARTIS AG-REG COMMON STOCK                   | CUSIP: N/A<br>LEI: 5493007HIVTX6SY6XD66       | Long             | EC               |  | CH        |       558 | NS      | $50414.20     | 1.03%             |  |  |  | No            |                  1 | On Loan: No      |
| ASTRAZENECA PLC                                                                             | ASTRAZENECA PLC COMMON STOCK                   | CUSIP: N/A<br>LEI: PY6ZZQWO2IZFZC3IOL08       | Long             | EC               |  | GB        |       380 | NS      | $51277.97     | 1.05%             |  |  |  | No            |                  1 | On Loan: No      |
| ORANGE SA                                                                                   | ORANGE COMMON STOCK                            | CUSIP: N/A<br>LEI: 969500MCOONR8990S771       | Long             | EC               |  | FR        |       515 | NS      | $5101.14      | 0.10%             |  |  |  | No            |                  1 | On Loan: No      |
| BANCO SANTANDER, S.A.                                                                       | BANCO SANTANDER SA COMMON STOCK                | CUSIP: N/A<br>LEI: 5493006QMFDDMYWIAM13       | Long             | EC               |  | ES        |      6902 | NS      | $20643.61     | 0.42%             |  |  |  | No            |                  1 | On Loan: No      |
| LVMH MOET HENNESSY LOUIS VUITTON SE                                                         | LVMH MOET HENNESSY LOUIS VUI COMMON STOCK      | CUSIP: N/A<br>LEI: IOG4E947OATN0KJYSD45       | Long             | EC               |  | FR        |        63 | NS      | $45714.15     | 0.94%             |  |  |  | No            |                  1 | On Loan: No      |
| Ishares Msci South Africa Index Fund                                                        | ISHARES MSCI SOUTH AFRICA ET MUTUAL FUND       | CUSIP: 464286780<br>LEI: N/A                  | Long             | EC               | RF                | US        |       946 | NS      | $40119.86     | 0.82%             |  |  |  | No            |                  1 | On Loan: No      |
| Compagnie des chemins de fer nationaux du Canada                                            | CANADIAN NATL RAILWAY CO COMMON STOCK          | CUSIP: 136375102<br>LEI: 3SU7BEP7TH9YEQOZCS77 | Long             | EC               |  | CA        |       200 | NS      | $23741.10     | 0.49%             |  |  |  | No            |                  1 | On Loan: No      |
| E.ON SE                                                                                     | E.ON SE COMMON STOCK                           | CUSIP: N/A<br>LEI: Q9MAIUP40P25UFBFG033       | Long             | EC               |  | DE        |       920 | NS      | $9164.75      | 0.19%             |  |  |  | No            |                  1 | On Loan: No      |
| CRH PUBLIC LIMITED COMPANY                                                                  | CRH PLC COMMON STOCK                           | CUSIP: N/A<br>LEI: 549300MIDJNNTH068E74       | Long             | EC               |  | IE        |       190 | NS      | $7504.78      | 0.15%             |  |  |  | No            |                  1 | On Loan: No      |
| UPM-Kymmene Oyj                                                                             | UPM-KYMMENE OYJ COMMON STOCK                   | CUSIP: N/A<br>LEI: 213800EC6PW5VU4J9U64       | Long             | EC               |  | FI        |       389 | NS      | $14501.51     | 0.30%             |  |  |  | No            |                  1 | On Loan: No      |
| BANQUE CANADIENNE IMPERIALE DE COMMERCE                                                     | CAN IMPERIAL BK OF COMMERCE COMMON STOCK       | CUSIP: 136069101<br>LEI: 2IGI19DL77OX0HC3ZE78 | Long             | EC               |  | CA        |       362 | NS      | $14632.82     | 0.30%             |  |  |  | No            |                  1 | On Loan: No      |
| Prosus N.V.                                                                                 | PROSUS NV COMMON STOCK                         | CUSIP: N/A<br>LEI: 635400Z5LQ5F9OLVT688       | Long             | EC               |  | NL        |       263 | NS      | $18090.21     | 0.37%             |  |  |  | No            |                  1 | On Loan: No      |
| ENEL - SPA                                                                                  | ENEL SPA COMMON STOCK                          | CUSIP: N/A<br>LEI: WOCMU6HCI0OJWNPRZS33       | Long             | EC               |  | IT        |      2482 | NS      | $13324.01     | 0.27%             |  |  |  | No            |                  1 | On Loan: No      |
| Nestle S.A.                                                                                 | NESTLE SA-REG COMMON STOCK                     | CUSIP: N/A<br>LEI: KY37LUS27QQX7BB93L28       | Long             | EC               |  | CH        |       621 | NS      | $71913.04     | 1.47%             |  |  |  | No            |                  1 | On Loan: No      |
| Amadeus IT Group SA                                                                         | AMADEUS IT GROUP SA COMMON STOCK               | CUSIP: N/A<br>LEI: 9598004A3FTY3TEHHN09       | Long             | EC               |  | ES        |       187 | NS      | $9689.38      | 0.20%             |  |  |  | No            |                  1 | On Loan: No      |
| SANOFI SA                                                                                   | SANOFI COMMON STOCK                            | CUSIP: N/A<br>LEI: 549300E9PC51EN656011       | Long             | EC               |  | FR        |       236 | NS      | $22628.03     | 0.46%             |  |  |  | No            |                  1 | On Loan: No      |
| NXP Semiconductors N.V.                                                                     | NXP SEMICONDUCTORS NV COMMON STOCK             | CUSIP: N6596X109<br>LEI: 724500M9BY5293JDF951 | Long             | EC               |  | US        |        60 | NS      | $9481.80      | 0.19%             |  |  |  | No            |                  1 | On Loan: No      |
| BROOKFIELD ASSET MANAGEMENT LTD                                                             | BROOKFIELD ASSET MGMT-A COMMON STOCK           | CUSIP: 113004105<br>LEI: N/A                  | Long             | EC               |  | CA        |       101 | NS      | $2889.97      | 0.06%             |  |  |  | No            |                  1 | On Loan: No      |
| COLOPLAST A/S                                                                               | COLOPLAST-B COMMON STOCK                       | CUSIP: N/A<br>LEI: 529900NN7SOJ5QG82X67       | Long             | EC               |  | DK        |        71 | NS      | $8274.00      | 0.17%             |  |  |  | No            |                  1 | On Loan: No      |
| Akzo Nobel N.V.                                                                             | AKZO NOBEL N.V. COMMON STOCK                   | CUSIP: N/A<br>LEI: 724500XYIJUGXAA5QD70       | Long             | EC               |  | NL        |        81 | NS      | $5408.13      | 0.11%             |  |  |  | No            |                  1 | On Loan: No      |
| iShares MSCI Brazil ETF                                                                     | ISHARES MSCI BRAZIL ETF MUTUAL FUND            | CUSIP: 464286400<br>LEI: N/A                  | Long             | EC               | RF                | US        |      2292 | NS      | $64107.24     | 1.31%             |  |  |  | No            |                  1 | On Loan: No      |
| NIBE Industrier AB                                                                          | NIBE INDUSTRIER AB-B SHS COMMON STOCK          | CUSIP: N/A<br>LEI: 549300ZQH0FIF1P0MX67       | Long             | EC               |  | SE        |       899 | NS      | $8377.84      | 0.17%             |  |  |  | No            |                  1 | On Loan: No      |
| Just Eat Takeaway.com N.V.                                                                  | JUST EAT TAKEAWAY COMMON STOCK                 | CUSIP: N/A<br>LEI: 724500FVZIBSSQ7SHI95       | Long             | EC               |  | NL        |        90 | NS      | $1897.03      | 0.04%             |  |  |  | Yes           |                  1 | On Loan: No      |
| iShares MSCI Philippines ETF                                                                | ISHARES MSCI PHILIPPINES ETF MUTUAL FUND       | CUSIP: 46429B408<br>LEI: N/A                  | Long             | EC               | RF                | US        |       414 | NS      | $10842.66     | 0.22%             |  |  |  | No            |                  1 | On Loan: No      |
| ING Groep N.V.                                                                              | ING GROEP NV COMMON STOCK                      | CUSIP: N/A<br>LEI: 549300NYKK9MWM7GGW15       | Long             | EC               |  | NL        |      1594 | NS      | $19373.17     | 0.40%             |  |  |  | No            |                  1 | On Loan: No      |
| ALIMENTATION COUCHE-TARD INC.                                                               | ALIMENTATION COUCHE-TARD INC COMMON STOCK      | CUSIP: 01626P148<br>LEI: 549300OSW32RVX8CCZ87 | Long             | EC               |  | CA        |       368 | NS      | $16160.01     | 0.33%             |  |  |  | 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