# EDGAR Filing Document

**Accession Number:** 0001593547
**File Stem:** 0002048251-25-003628
**Filing Date:** 2025-12
**Character Count:** 24955
**Document Hash:** f15697cdf8cb061983a84f29f1be2148
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0002048251-25-003628.hdr.sgml**: 20251229

**ACCESSION NUMBER**: 0002048251-25-003628

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20251031

**FILED AS OF DATE**: 20251229

**DATE AS OF CHANGE**: 20251229

**PERIOD START**: 20260731

**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:** 251608474

**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

### CCT Thematic Equity Fund (Series ID: S000069656)

| Class ID   | Class Name           | Ticker Symbol   |
|:---|:---|:---|
| C000222147 | Institutional Shares | THMEX           |

## Nport-Ex

THE ADVISORS' INNER CIRCLE FUND III CCT THEMATIC EQUITY FUND <br> OCTOBER 31, 2025 <br> (Unaudited)

---

| | | |
|:---|:---|:---|
| **SCHEDULE OF INVESTMENTS**  | **SCHEDULE OF INVESTMENTS**  | **SCHEDULE OF INVESTMENTS**  |
| **COMMON STOCK — 94.9%** | **COMMON STOCK — 94.9%** | **COMMON STOCK — 94.9%** |
|  | **Shares** | **Value<br> (000)** |
| **BELGIUM — 2.4%** | **BELGIUM — 2.4%** | **BELGIUM — 2.4%** |
| **REAL ESTATE — 2.4%** | **REAL ESTATE — 2.4%** |  |
| &nbsp;&nbsp;&nbsp;VGP  | 8710 | $1006 |
|  |  | 1006 |
| **CANADA — 3.0%** | **CANADA — 3.0%** | **CANADA — 3.0%** |
| **MATERIALS — 3.0%** | **MATERIALS — 3.0%** |  |
| &nbsp;&nbsp;&nbsp;Franco-Nevada  | 6859 | 1280 |
|  |  | 1280 |
| **FRANCE — 5.1%** | **FRANCE — 5.1%** | **FRANCE — 5.1%** |
| **CONSUMER DISCRETIONARY — 2.0%** | **CONSUMER DISCRETIONARY — 2.0%** |  |
| &nbsp;&nbsp;&nbsp;Accor  | 16719 | 851 |
| **CONSUMER STAPLES — 1.8%** | **CONSUMER STAPLES — 1.8%** |  |
| &nbsp;&nbsp;&nbsp;L'Oreal ADR  | 8840 | 738 |
| **INDUSTRIALS — 1.3%** | **INDUSTRIALS — 1.3%** |  |
| &nbsp;&nbsp;&nbsp;Airbus ADR  | 9163 | 562 |
|  |  | 2151 |
| **HONG KONG — 2.4%** | **HONG KONG — 2.4%** | **HONG KONG — 2.4%** |
| **FINANCIALS — 2.4%** | **FINANCIALS — 2.4%** |  |
| &nbsp;&nbsp;&nbsp;AIA Group  | 103845 | 1008 |
|  |  | 1008 |
| **JAPAN — 6.3%** | **JAPAN — 6.3%** | **JAPAN — 6.3%** |
| **FINANCIALS — 3.8%** | **FINANCIALS — 3.8%** |  |
| &nbsp;&nbsp;&nbsp;Mitsubishi UFJ Financial Group ADR  | 66898 | 1012 |
| &nbsp;&nbsp;&nbsp;Sumitomo Mitsui Financial Group  | 22109 | 597 |
|  |  | 1609 |
| **INDUSTRIALS — 2.5%** | **INDUSTRIALS — 2.5%** |  |
| &nbsp;&nbsp;&nbsp;Daiei Kankyo  | 9465 | 211 |
| &nbsp;&nbsp;&nbsp;FANUC  | 26012 | 829 |
|  |  | 1040 |
|  |  | 2649 |
| **NETHERLANDS — 2.0%** | **NETHERLANDS — 2.0%** | **NETHERLANDS — 2.0%** |
| **INFORMATION TECHNOLOGY — 2.0%** | **INFORMATION TECHNOLOGY — 2.0%** |  |
| &nbsp;&nbsp;&nbsp;ASML Holding, Cl G  | 811 | 859 |
|  |  | 859 |

---

THE ADVISORS' INNER CIRCLE FUND III CCT THEMATIC EQUITY FUND <br> OCTOBER 31, 2025 <br> (Unaudited)

---

| | | |
|:---|:---|:---|
| **SCHEDULE OF INVESTMENTS**  | **SCHEDULE OF INVESTMENTS**  | **SCHEDULE OF INVESTMENTS**  |
|  | **Shares** | **Value<br> (000)** |
| **SPAIN — 5.0%** | **SPAIN — 5.0%** | **SPAIN — 5.0%** |
| **CONSUMER DISCRETIONARY — 2.1%** | **CONSUMER DISCRETIONARY — 2.1%** |  |
| &nbsp;&nbsp;&nbsp;Industria de Diseno Textil  | 15768 | $871 |
| **FINANCIALS — 2.9%** | **FINANCIALS — 2.9%** |  |
| &nbsp;&nbsp;&nbsp;Banco Santander ADR  | 122000 | 1238 |
|  |  | 2109 |
| **SWEDEN — 3.2%** | **SWEDEN — 3.2%** | **SWEDEN — 3.2%** |
| **INDUSTRIALS — 3.2%** | **INDUSTRIALS — 3.2%** |  |
| &nbsp;&nbsp;&nbsp;Sandvik  | 44530 | 1352 |
|  |  | 1352 |
| **SWITZERLAND — 6.5%** | **SWITZERLAND — 6.5%** | **SWITZERLAND — 6.5%** |
| **CONSUMER STAPLES — 1.4%** | **CONSUMER STAPLES — 1.4%** |  |
| &nbsp;&nbsp;&nbsp;Nestle ADR  | 6071 | 580 |
| **HEALTH CARE — 2.0%** | **HEALTH CARE — 2.0%** |  |
| &nbsp;&nbsp;&nbsp;Novartis ADR  | 6911 | 856 |
| **INDUSTRIALS — 3.1%** | **INDUSTRIALS — 3.1%** |  |
| &nbsp;&nbsp;&nbsp;ABB ADR  | 17437 | 1293 |
|  |  | 2729 |
| **UNITED KINGDOM — 3.0%** | **UNITED KINGDOM — 3.0%** | **UNITED KINGDOM — 3.0%** |
| **ENERGY — 3.0%** | **ENERGY — 3.0%** |  |
| &nbsp;&nbsp;&nbsp;Shell PLC ADR  | 16702 | 1251 |
|  |  | 1251 |
| **UNITED STATES — 56.0%** | **UNITED STATES — 56.0%** | **UNITED STATES — 56.0%** |
| **COMMUNICATION SERVICES — 3.9%** | **COMMUNICATION SERVICES — 3.9%** |  |
| &nbsp;&nbsp;&nbsp;Alphabet, Cl C  | 2713 | 765 |
| &nbsp;&nbsp;&nbsp;Verizon Communications  | 21984 | 874 |
|  |  | 1639 |
| **CONSUMER DISCRETIONARY — 3.2%** | **CONSUMER DISCRETIONARY — 3.2%** |  |
| &nbsp;&nbsp;&nbsp;Amazon.com \* | 5518 | 1348 |
| **CONSUMER STAPLES — 1.7%** | **CONSUMER STAPLES — 1.7%** |  |
| &nbsp;&nbsp;&nbsp;Costco Wholesale  | 787 | 717 |
| **ENERGY — 3.7%** | **ENERGY — 3.7%** |  |
| &nbsp;&nbsp;&nbsp;EOG Resources  | 4579 | 485 |
| &nbsp;&nbsp;&nbsp;Schlumberger  | 20918 | 754 |
| &nbsp;&nbsp;&nbsp;Williams  | 4901 | 284 |
|  |  | 1523 |

---

THE ADVISORS' INNER CIRCLE FUND III CCT THEMATIC EQUITY FUND <br> OCTOBER 31, 2025 <br> (Unaudited)

---

| | | |
|:---|:---|:---|
| **SCHEDULE OF INVESTMENTS**  | **SCHEDULE OF INVESTMENTS**  | **SCHEDULE OF INVESTMENTS**  |
|  | **Shares** | **Value<br> (000)** |
| **FINANCIALS — 9.4%** | **FINANCIALS — 9.4%** |  |
| &nbsp;&nbsp;&nbsp;Berkshire Hathaway, Cl B \* | 2441 | $1166 |
| &nbsp;&nbsp;&nbsp;Goldman Sachs Group  | 1402 | 1107 |
| &nbsp;&nbsp;&nbsp;JPMorgan Chase  | 2823 | 878 |
| &nbsp;&nbsp;&nbsp;Visa, Cl A  | 2333 | 795 |
|  |  | 3946 |
| **HEALTH CARE — 9.6%** | **HEALTH CARE — 9.6%** |  |
| &nbsp;&nbsp;&nbsp;CareDx \* | 22804 | 342 |
| &nbsp;&nbsp;&nbsp;Illumina \* | 8006 | 989 |
| &nbsp;&nbsp;&nbsp;Natera \* | 4886 | 972 |
| &nbsp;&nbsp;&nbsp;Regeneron Pharmaceuticals  | 1875 | 1222 |
| &nbsp;&nbsp;&nbsp;Vertex Pharmaceuticals \* | 1306 | 556 |
|  |  | 4081 |
| **INDUSTRIALS — 1.4%** | **INDUSTRIALS — 1.4%** |  |
| &nbsp;&nbsp;&nbsp;BWX Technologies  | 2700 | 577 |
| **INFORMATION TECHNOLOGY — 19.2%** | **INFORMATION TECHNOLOGY — 19.2%** |  |
| &nbsp;&nbsp;&nbsp;Apple  | 3377 | 913 |
| &nbsp;&nbsp;&nbsp;Broadcom  | 2109 | 779 |
| &nbsp;&nbsp;&nbsp;Cadence Design Systems \* | 3299 | 1117 |
| &nbsp;&nbsp;&nbsp;Cognex  | 28230 | 1168 |
| &nbsp;&nbsp;&nbsp;Crowdstrike Holdings, Cl A \* | 952 | 517 |
| &nbsp;&nbsp;&nbsp;Impinj \* | 5065 | 1024 |
| &nbsp;&nbsp;&nbsp;IonQ \* | 4745 | 296 |
| &nbsp;&nbsp;&nbsp;NVIDIA  | 6950 | 1407 |
| &nbsp;&nbsp;&nbsp;Snowflake, Cl A \* | 3051 | 839 |
|  |  | 8060 |
| **UTILITIES — 3.9%** | **UTILITIES — 3.9%** |  |
| &nbsp;&nbsp;&nbsp;American Electric Power  | 8552 | 1028 |
| &nbsp;&nbsp;&nbsp;Atmos Energy  | 3767 | 647 |
|  |  | 1675 |
|  |  | 23566 |
| TOTAL COMMON STOCK  |  |  |
| &nbsp;&nbsp;&nbsp;(Cost $23,448)  |  | 39960 |
| TOTAL INVESTMENTS— 94.9% |  |  |
| &nbsp;&nbsp;&nbsp;(Cost $23,448)  | &nbsp;&nbsp;&nbsp;(Cost $23,448)  | $39960 |

---

---

| | |
|:---|:---|
|  | Percentages are based on Net Assets of $42,117 (000). |
| \* | Non-income producing security. |

---

THE ADVISORS' INNER CIRCLE FUND III CCT THEMATIC EQUITY FUND <br> OCTOBER 31, 2025 <br> (Unaudited)

ADR — American Depositary Receipt <br> Cl — Class <br> PLC — Public Limited Company

CCT-QH-001-1100

## 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:** CCT Thematic Equity Fund

- **b. EDGAR series identifier (if any):** S000069656

- **c. LEI of Series:** 549300SCJYWF4YNVU165

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

- **a. Date of fiscal year-end:** 2026-07-31

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

**Item A.4. Final filing**

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

### Fund Information

**Total Assets:** $42173207.82

**Total Liabilities:** $56035.99

**Net Assets:** $42117171.83

**Cash Not Reported:** $5.64

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000222147 | 3.32%                | 3.05%                | 4.55%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $97708.49                | $1219427.22                                |
| Month 2  | $1177826.20              | $-10581.53                                 |
| Month 3  | $192159.96               | $1567460.89                                |

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| AMERICAN ELECTRIC POWER COMPANY, INC. | AMERICAN ELECTRIC POWER COMMON STOCK            | CUSIP: N/A<br>LEI: 1B4S6S7G0TW5EE83BO58       | Long             | EC               |  | US        |      8552 | NS      | $1028463.52   | 2.44%             |  |  |  | No            |                  1 | On Loan: No      |
| SLB N.V.                              | SLB LTD COMMON STOCK                            | CUSIP: 806857108<br>LEI: 213800ZUA17OK3QLGM62 | Long             | EC               |  | US        |     20918 | NS      | $754303.08    | 1.79%             |  |  |  | No            |                  1 | On Loan: No      |
| CAREDX, INC.                          | CAREDX INC COMMON STOCK                         | CUSIP: 14167L103<br>LEI: 549300NQOFKL9NON0U06 | Long             | EC               |  | US        |     22804 | NS      | $342060.00    | 0.81%             |  |  |  | No            |                  1 | On Loan: No      |
| COGNEX CORPORATION                    | COGNEX CORP COMMON STOCK                        | CUSIP: 192422103<br>LEI: 549300JQTYZCLC43S226 | Long             | EC               |  | US        |     28230 | NS      | $1168439.70   | 2.77%             |  |  |  | No            |                  1 | On Loan: No      |
| BROADCOM INC.                         | BROADCOM INC COMMON STOCK                       | CUSIP: 11135F101<br>LEI: 549300WV6GIDOZJTV909 | Long             | EC               |  | US        |      2109 | NS      | $779549.67    | 1.85%             |  |  |  | No            |                  1 | On Loan: No      |
| THE WILLIAMS COMPANIES, INC.          | WILLIAMS COS INC COMMON STOCK                   | CUSIP: 969457100<br>LEI: D71FAKCBLFS2O0RBPG08 | Long             | EC               |  | US        |      4901 | NS      | $283620.87    | 0.67%             |  |  |  | No            |                  1 | On Loan: No      |
| L'OREAL SA                            | L'OREAL-UNSPONSORED ADR DEPOSITARY RECEIPT      | CUSIP: 502117203<br>LEI: 529900JI1GG6F7RKVI53 | Long             | EC               |  | US        |      8840 | NS      | $737963.20    | 1.75%             |  |  |  | No            |                  1 | On Loan: No      |
| Sumitomo Mitsui Financial Group, Inc. | SUMITOMO MITSUI FINANCIAL GR COMMON STOCK       | CUSIP: N/A<br>LEI: 35380028MYWPB6AUO129       | Long             | EC               |  | JP        |     22109 | NS      | $597234.23    | 1.42%             |  |  |  | No            |                  1 | On Loan: No      |
| VISA INC.                             | VISA INC-CLASS A SHARES COMMON STOCK            | CUSIP: 92826C839<br>LEI: 549300JZ4OKEHW3DPJ59 | Long             | EC               |  | US        |      2333 | NS      | $794946.42    | 1.89%             |  |  |  | No            |                  1 | On Loan: No      |
| ACCOR SA                              | ACCOR SA COMMON STOCK                           | CUSIP: N/A<br>LEI: 969500QZC2Q0TK11NV07       | Long             | EC               |  | FR        |     16719 | NS      | $850817.63    | 2.02%             |  |  |  | No            |                  1 | On Loan: No      |
| Sandvik Aktiebolag                    | SANDVIK AB COMMON STOCK                         | CUSIP: N/A<br>LEI: 5299008ZUAXN43LVZF54       | Long             | EC               |  | SE        |     44530 | NS      | $1352270.20   | 3.21%             |  |  |  | No            |                  1 | On Loan: No      |
| FANUC CORPORATION                     | FANUC CORP COMMON STOCK                         | CUSIP: N/A<br>LEI: 529900QTSW745LOKW705       | Long             | EC               |  | JP        |     26012 | NS      | $828582.88    | 1.97%             |  |  |  | No            |                  1 | On Loan: No      |
| REGENERON PHARMACEUTICALS, INC.       | REGENERON PHARMACEUTICALS COMMON STOCK          | CUSIP: 75886F107<br>LEI: 549300RCBFWIRX3HYQ56 | Long             | EC               |  | US        |      1875 | NS      | $1222125.00   | 2.90%             |  |  |  | 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        |     15768 | NS      | $870577.82    | 2.07%             |  |  |  | No            |                  1 | On Loan: No      |
| N/A                                   | BROWN BROTHERS HARRIMAN SWEEP INTEREST          | CUSIP: N/A<br>LEI: N/A                        | Long             | STIV             |  | US        |   2051976 | PA      | $2051975.71   | 4.87%             |  |  |  | No            |                  1 | On Loan: No      |
| Airbus SE                             | AIRBUS SE - UNSP ADR DEPOSITARY RECEIPT         | CUSIP: N/A<br>LEI: MINO79WLOO247M1IL051       | Long             | EC               |  | US        |      9163 | NS      | $562608.20    | 1.34%             |  |  |  | No            |                  1 | On Loan: No      |
| SHELL PLC                             | SHELL PLC-ADR DEPOSITARY RECEIPT                | CUSIP: 780259305<br>LEI: 21380068P1DRHMJ8KU70 | Long             | EC               |  | US        |     16702 | NS      | $1251313.84   | 2.97%             |  |  |  | No            |                  1 | On Loan: No      |
| Banco Santander, S.A.                 | BANCO SANTANDER SA-SPON ADR DEPOSITARY RECEIPT  | CUSIP: 05964H105<br>LEI: 5493006QMFDDMYWIAM13 | Long             | EC               |  | US        |    122000 | NS      | $1238300.00   | 2.94%             |  |  |  | No            |                  1 | On Loan: No      |
| VERTEX PHARMACEUTICALS INCORPORATED   | VERTEX PHARMACEUTICALS INC COMMON STOCK         | CUSIP: 92532F100<br>LEI: 54930015RAQRRZ5ZGJ91 | Long             | EC               |  | US        |      1306 | NS      | $555794.42    | 1.32%             |  |  |  | No            |                  1 | On Loan: No      |
| COSTCO WHOLESALE CORPORATION          | COSTCO WHOLESALE CORP COMMON STOCK              | CUSIP: 22160K105<br>LEI: 29DX7H14B9S6O3FD6V18 | Long             | EC               |  | US        |       787 | NS      | $717311.15    | 1.70%             |  |  |  | No            |                  1 | On Loan: No      |
| CROWDSTRIKE HOLDINGS, INC.            | CROWDSTRIKE HOLDINGS INC - A COMMON STOCK       | CUSIP: 22788C105<br>LEI: 549300YBY08K9KM4HX32 | Long             | EC               |  | US        |       952 | NS      | $516945.52    | 1.23%             |  |  |  | No            |                  1 | On Loan: No      |
| ILLUMINA, INC.                        | ILLUMINA INC COMMON STOCK                       | CUSIP: 452327109<br>LEI: SQ95QG8SR5Q56LSNF682 | Long             | EC               |  | US        |      8006 | NS      | $989061.24    | 2.35%             |  |  |  | No            |                  1 | On Loan: No      |
| BWX TECHNOLOGIES, INC.                | BWX TECHNOLOGIES INC COMMON STOCK               | CUSIP: 05605H100<br>LEI: 549300NP85N265KWMS58 | Long             | EC               |  | US        |      2700 | NS      | $576747.00    | 1.37%             |  |  |  | No            |                  1 | On Loan: No      |
| AIA Group Limited                     | AIA GROUP LTD COMMON STOCK                      | CUSIP: N/A<br>LEI: ZP5ILWVSYE4LJGMMVD57       | Long             | EC               |  | HK        |    103845 | NS      | $1008307.68   | 2.39%             |  |  |  | No            |                  1 | On Loan: No      |
| THE GOLDMAN SACHS GROUP, INC.         | GOLDMAN SACHS GROUP INC COMMON STOCK            | CUSIP: 38141G104<br>LEI: 784F5XWPLTWKTBV3E584 | Long             | EC               |  | US        |      1402 | NS      | $1106696.74   | 2.63%             |  |  |  | No            |                  1 | On Loan: No      |
| EOG RESOURCES, INC.                   | EOG RESOURCES INC COMMON STOCK                  | CUSIP: 26875P101<br>LEI: XWTZDRYZPBUHIQBKDB46 | Long             | EC               |  | US        |      4579 | NS      | $484641.36    | 1.15%             |  |  |  | No            |                  1 | On Loan: No      |
| AMAZON.COM, INC.                      | AMAZON.COM INC COMMON STOCK                     | CUSIP: N/A<br>LEI: ZXTILKJKG63JELOEG630       | Long             | EC               |  | US        |      5518 | NS      | $1347605.96   | 3.20%             |  |  |  | No            |                  1 | On Loan: No      |
| NATERA, INC.                          | NATERA INC COMMON STOCK                         | CUSIP: 632307104<br>LEI: N/A                  | Long             | EC               |  | US        |      4886 | NS      | $971971.98    | 2.31%             |  |  |  | No            |                  1 | On Loan: No      |
| Mitsubishi UFJ Financial Group, Inc.  | MITSUBISHI UFJ FINL-SPON ADR DEPOSITARY RECEIPT | CUSIP: 606822104<br>LEI: 353800V2V8PUY9TK3E06 | Long             | EC               |  | US        |     66898 | NS      | $1012166.74   | 2.40%             |  |  |  | No            |                  1 | On Loan: No      |
| BERKSHIRE HATHAWAY INC.               | BERKSHIRE HATHAWAY INC-CL B COMMON STOCK        | CUSIP: N/A<br>LEI: 5493000C01ZX7D35SD85       | Long             | EC               |  | US        |      2441 | NS      | $1165675.14   | 2.77%             |  |  |  | No            |                  1 | On Loan: No      |
| VERIZON COMMUNICATIONS INC.           | VERIZON COMMUNICATIONS INC COMMON STOCK         | CUSIP: 92343V104<br>LEI: 2S72QS2UO2OESLG6Y829 | Long             | EC               |  | US        |     21984 | NS      | $873644.16    | 2.07%             |  |  |  | No            |                  1 | On Loan: No      |
| VGP NV                                | VGP COMMON STOCK                                | CUSIP: N/A<br>LEI: 315700NENYPIXFR94T49       | Long             | EC               |  | BE        |      8710 | NS      | $1005961.48   | 2.39%             |  |  |  | No            |                  1 | On Loan: No      |
| NVIDIA CORPORATION                    | NVIDIA CORP COMMON STOCK                        | CUSIP: 67066G104<br>LEI: 549300S4KLFTLO7GSQ80 | Long             | EC               |  | US        |      6950 | NS      | $1407305.50   | 3.34%             |  |  |  | No            |                  1 | On Loan: No      |
| Novartis AG                           | NOVARTIS AG-SPONSORED ADR DEPOSITARY RECEIPT    | CUSIP: 66987V109<br>LEI: 5493007HIVTX6SY6XD66 | Long             | EC               |  | US        |      6911 | NS      | $855512.69    | 2.03%             |  |  |  | No            |                  1 | On Loan: No      |
| ABB Ltd                               | ABB LTD-SPON ADR DEPOSITARY RECEIPT             | CUSIP: N/A<br>LEI: 5493000LKVGOO9PELI61       | Long             | EC               |  | US        |     17437 | NS      | $1293127.92   | 3.07%             |  |  |  | No            |                  1 | On Loan: No      |
| CADENCE DESIGN SYSTEMS, INC.          | CADENCE DESIGN SYS INC COMMON STOCK             | CUSIP: 127387108<br>LEI: GCT7RXJOGLXPV0NXZY22 | Long             | EC               |  | US        |      3299 | NS      | $1117338.31   | 2.65%             |  |  |  | No            |                  1 | On Loan: No      |
| ATMOS ENERGY CORPORATION              | ATMOS ENERGY CORP COMMON STOCK                  | CUSIP: N/A<br>LEI: QVLWEGTD2S8GJMO8D383       | Long             | EC               |  | US        |      3767 | NS      | $646869.24    | 1.54%             |  |  |  | No            |                  1 | On Loan: No      |
| Daiei Kankyo Co., Ltd.                | DAIEI KANKYO CO LTD COMMON STOCK                | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               |  | JP        |      9465 | NS      | $210660.89    | 0.50%             |  |  |  | No            |                  1 | On Loan: No      |
| IMPINJ, INC.                          | IMPINJ INC COMMON STOCK                         | CUSIP: 453204109<br>LEI: 549300M26VGKSMMWWN17 | Long             | EC               |  | US        |      5065 | NS      | $1023940.40   | 2.43%             |  |  |  | No            |                  1 | On Loan: No      |
| ASML Holding N.V.                     | ASML HOLDING NV-NY REG SHS DEPOSITARY RECEIPT   | CUSIP: N07059210<br>LEI: 724500Y6DUVHQD6OXN27 | Long             | EC               |  | US        |       811 | NS      | $859035.53    | 2.04%             |  |  |  | No            |                  1 | On Loan: No      |
| Franco-Nevada Corporation             | FRANCO-NEVADA CORP COMMON STOCK                 | CUSIP: 351858105<br>LEI: 98450064C1B5D3E94864 | Long             | EC               |  | US        |      6859 | NS      | $1280095.17   | 3.04%             |  |  |  | No            |                  1 | On Loan: No      |
| JPMORGAN CHASE & CO.                  | JPMORGAN CHASE & CO COMMON STOCK                | CUSIP: 46625H100<br>LEI: 8I5DZWZKVSZI1NUHU748 | Long             | EC               |  | US        |      2823 | NS      | $878291.76    | 2.09%             |  |  |  | No            |                  1 | On Loan: No      |
| Nestle S.A.                           | NESTLE SA-SPONS ADR DEPOSITARY RECEIPT          | CUSIP: 641069406<br>LEI: KY37LUS27QQX7BB93L28 | Long             | EC               |  | US        |      6071 | NS      | $579901.92    | 1.38%             |  |  |  | No            |                  1 | On Loan: No      |
| SNOWFLAKE INC.                        | SNOWFLAKE INC COMMON STOCK                      | CUSIP: 833445109<br>LEI: 254900CJNSY1K7T53Z16 | Long             | EC               |  | US        |      3051 | NS      | $838658.88    | 1.99%             |  |  |  | No            |                  1 | On Loan: No      |
| APPLE INC.                            | APPLE INC COMMON STOCK                          | CUSIP: N/A<br>LEI: HWUPKR0MPOU8FGXBT394       | Long             | EC               |  | US        |      3377 | NS      | $913039.49    | 2.17%             |  |  |  | No            |                  1 | On Loan: No      |
| IONQ Inc                              | IONQ INC COMMON STOCK                           | CUSIP: 46222L108<br>LEI: 529900RB2VEFGLQS7G28 | Long             | EC               |  | US        |      4745 | NS      | $295993.10    | 0.70%             |  |  |  | No            |                  1 | On Loan: No      |
| ALPHABET INC.                         | ALPHABET INC-CL C COMMON STOCK                  | CUSIP: 02079K107<br>LEI: 5493006MHB84DD0ZWV18 | Long             | EC               |  | US        |      2713 | NS      | $764577.66    | 1.82%             |  |  |  | No            |                  1 | On Loan: No      |

### Signature

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

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

**Signature:** Andrew Metzger

**Name of Signer:** Andrew Metzger

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