| The Advisors’ Inner Circle Fund III | LGIM America | |||
| Long Duration U.S. Credit Fund | ||||
| July 31, 2022 (Unaudited) | ||||
| SCHEDULE OF INVESTMENTS
CORPORATE OBLIGATIONS — 83.9% |
| Face Amount |
Value | |||||||
| COMMUNICATION SERVICES — 11.7% |
||||||||
| Alphabet |
||||||||
| 1.900%, 08/15/2040 |
$ | 40,000 | $ | 30,014 | ||||
| America Movil |
||||||||
| 6.125%, 03/30/2040 |
45,000 | 51,040 | ||||||
| AT&T |
||||||||
| 4.500%, 05/15/2035 |
125,000 | 124,052 | ||||||
| 3.650%, 09/15/2059 |
115,000 | 89,743 | ||||||
| 3.550%, 09/15/2055 |
520,000 | 404,447 | ||||||
| Charter Communications Operating |
||||||||
| 4.800%, 03/01/2050 |
90,000 | 74,224 | ||||||
| 3.900%, 06/01/2052 |
10,000 | 7,244 | ||||||
| 3.850%, 04/01/2061 |
5,000 | 3,458 | ||||||
| 3.700%, 04/01/2051 |
105,000 | 73,643 | ||||||
| 3.500%, 06/01/2041 |
110,000 | 80,718 | ||||||
| Comcast |
||||||||
| 3.400%, 04/01/2030 |
190,000 | 185,007 | ||||||
| 2.987%, 11/01/2063 |
15,000 | 10,804 | ||||||
| 2.937%, 11/01/2056 |
313,000 | 227,977 | ||||||
| 2.887%, 11/01/2051 |
165,000 | 123,672 | ||||||
| Magallanes |
||||||||
| 5.141%, 03/15/2052 (A) |
50,000 | 43,687 | ||||||
| 5.050%, 03/15/2042 (A) |
80,000 | 71,035 | ||||||
| Paramount Global |
||||||||
| 5.850%, 09/01/2043 |
150,000 | 144,928 | ||||||
| 4.375%, 03/15/2043 |
25,000 | 20,082 | ||||||
| Rogers Communications |
||||||||
| 5.000%, 03/15/2044 |
20,000 | 19,575 | ||||||
| Time Warner Cable |
||||||||
| 5.875%, 11/15/2040 |
105,000 | 100,190 | ||||||
| 4.500%, 09/15/2042 |
50,000 | 40,402 | ||||||
| T-Mobile USA |
||||||||
| 3.000%, 02/15/2041 |
60,000 | 46,650 | ||||||
| Verizon Communications |
||||||||
| 3.550%, 03/22/2051 |
275,000 | 229,262 | ||||||
| 3.400%, 03/22/2041 |
130,000 | 111,061 | ||||||
| 2.987%, 10/30/2056 |
125,000 | 90,789 | ||||||
| Vodafone Group |
||||||||
| 4.250%, 09/17/2050 |
35,000 | 30,546 | ||||||
| Walt Disney |
||||||||
| 3.600%, 01/13/2051 |
65,000 | 57,167 | ||||||
| 3.500%, 05/13/2040 |
85,000 | 76,192 | ||||||
| The Advisors’ Inner Circle Fund III | LGIM America | |||
| Long Duration U.S. Credit Fund | ||||
| July 31, 2022 (Unaudited) | ||||
| SCHEDULE OF INVESTMENTS
CORPORATE OBLIGATIONS (continued) |
| Face Amount |
Value | |||||||
| COMMUNICATION SERVICES (continued) |
||||||||
| 2.750%, 09/01/2049 |
$ | 70,000 | $ | 52,946 | ||||
|
|
|
| ||||||
| 2,620,555 | ||||||||
|
|
|
| ||||||
| CONSUMER DISCRETIONARY — 2.9% |
||||||||
| Amazon.com |
||||||||
| 3.950%, 04/13/2052 |
90,000 | 87,607 | ||||||
| 3.100%, 05/12/2051 |
90,000 | 75,573 | ||||||
| 2.875%, 05/12/2041 |
50,000 | 42,197 | ||||||
| General Motors |
||||||||
| 5.150%, 04/01/2038 |
50,000 | 45,207 | ||||||
| Home Depot |
||||||||
| 3.625%, 04/15/2052 |
55,000 | 49,420 | ||||||
| 3.350%, 04/15/2050 |
50,000 | 42,746 | ||||||
| 3.300%, 04/15/2040 |
90,000 | 79,895 | ||||||
| 3.125%, 12/15/2049 |
35,000 | 28,784 | ||||||
| Lowe’s |
||||||||
| 4.450%, 04/01/2062 |
30,000 | 27,114 | ||||||
| 4.250%, 04/01/2052 |
15,000 | 13,603 | ||||||
| Target |
||||||||
| 2.950%, 01/15/2052 |
15,000 | 12,040 | ||||||
| University of Southern California |
||||||||
| 3.028%, 10/01/2039 |
150,000 | 134,496 | ||||||
|
|
|
| ||||||
| 638,682 | ||||||||
|
|
|
| ||||||
| CONSUMER STAPLES — 7.7% |
||||||||
| 7-Eleven |
||||||||
| 2.800%, 02/10/2051 (A) |
20,000 | 13,733 | ||||||
| 2.500%, 02/10/2041 (A) |
45,000 | 32,334 | ||||||
| Altria Group |
||||||||
| 5.950%, 02/14/2049 |
20,000 | 18,345 | ||||||
| 3.700%, 02/04/2051 |
55,000 | 36,622 | ||||||
| 3.400%, 02/04/2041 |
120,000 | 82,809 | ||||||
| 2.450%, 02/04/2032 |
25,000 | 19,588 | ||||||
| Anheuser-Busch |
||||||||
| 4.900%, 02/01/2046 |
275,000 | 276,657 | ||||||
| 4.700%, 02/01/2036 |
215,000 | 220,871 | ||||||
| Anheuser-Busch InBev Worldwide |
||||||||
| 5.550%, 01/23/2049 |
105,000 | 115,008 | ||||||
| BAT Capital |
||||||||
| 4.758%, 09/06/2049 |
30,000 | 22,984 | ||||||
| 4.540%, 08/15/2047 |
100,000 | 74,692 | ||||||
| 4.390%, 08/15/2037 |
145,000 | 119,904 | ||||||
| 3.734%, 09/25/2040 |
5,000 | 3,607 | ||||||
| Coca-Cola |
||||||||
| 2.500%, 06/01/2040 |
50,000 | 41,241 | ||||||
| The Advisors’ Inner Circle Fund III | LGIM America | |||
| Long Duration U.S. Credit Fund | ||||
| July 31, 2022 (Unaudited) | ||||
| SCHEDULE OF INVESTMENTS
CORPORATE OBLIGATIONS (continued) |
| Face Amount |
Value | |||||||
| CONSUMER STAPLES (continued) |
||||||||
| Constellation Brands |
||||||||
| 4.100%, 02/15/2048 |
$ | 45,000 | $ | 39,699 | ||||
| Fomento Economico Mexicano |
||||||||
| 3.500%, 01/16/2050 |
45,000 | 35,185 | ||||||
| JBS USA LUX |
||||||||
| 6.500%, 12/01/2052 (A) |
70,000 | 70,193 | ||||||
| 4.375%, 02/02/2052 (A) |
45,000 | 34,238 | ||||||
| 3.000%, 05/15/2032 (A) |
45,000 | 36,591 | ||||||
| Keurig Dr Pepper |
||||||||
| 4.500%, 04/15/2052 |
34,000 | 31,789 | ||||||
| Kraft Heinz Foods |
||||||||
| 5.500%, 06/01/2050 |
50,000 | 50,968 | ||||||
| 5.200%, 07/15/2045 |
35,000 | 34,615 | ||||||
| 4.875%, 10/01/2049 |
72,000 | 67,322 | ||||||
| Nestle Holdings |
||||||||
| 4.000%, 09/24/2048 (A) |
20,000 | 19,499 | ||||||
| 3.900%, 09/24/2038 (A) |
40,000 | 38,780 | ||||||
| PepsiCo |
||||||||
| 2.750%, 10/21/2051 |
45,000 | 36,576 | ||||||
| 2.625%, 10/21/2041 |
25,000 | 20,914 | ||||||
| Philip Morris International |
||||||||
| 4.125%, 03/04/2043 |
60,000 | 48,717 | ||||||
| Walmart |
||||||||
| 2.650%, 09/22/2051 |
18,000 | 14,312 | ||||||
| 2.500%, 09/22/2041 |
79,000 | 64,762 | ||||||
|
|
|
| ||||||
| 1,722,555 | ||||||||
|
|
|
| ||||||
| ENERGY — 9.3% |
||||||||
| BP Capital Markets America |
||||||||
| 3.379%, 02/08/2061 |
35,000 | 27,875 | ||||||
| 3.060%, 06/17/2041 |
40,000 | 33,105 | ||||||
| 3.001%, 03/17/2052 |
60,000 | 46,399 | ||||||
| 3.000%, 02/24/2050 |
5,000 | 3,853 | ||||||
| 2.939%, 06/04/2051 |
60,000 | 45,274 | ||||||
| Columbia Pipeline Group |
||||||||
| 5.800%, 06/01/2045 |
45,000 | 48,131 | ||||||
| ConocoPhillips |
||||||||
| 3.800%, 03/15/2052 |
45,000 | 40,626 | ||||||
| Devon Energy |
||||||||
| 5.000%, 06/15/2045 |
35,000 | 34,037 | ||||||
| Energy Transfer |
||||||||
| 6.250%, 04/15/2049 |
15,000 | 15,133 | ||||||
| 5.400%, 10/01/2047 |
60,000 | 55,003 | ||||||
| 5.150%, 03/15/2045 |
220,000 | 196,805 | ||||||
| 5.000%, 05/15/2050 |
75,000 | 66,268 | ||||||
| 4.900%, 03/15/2035 |
45,000 | 42,307 | ||||||
| The Advisors’ Inner Circle Fund III | LGIM America | |||
| Long Duration U.S. Credit Fund | ||||
| July 31, 2022 (Unaudited) | ||||
| SCHEDULE OF INVESTMENTS
CORPORATE OBLIGATIONS (continued) |
| Face Amount |
Value | |||||||
| ENERGY (continued) |
||||||||
| Enterprise Products Operating |
||||||||
| 4.950%, 10/15/2054 |
$ | 45,000 | $ | 42,605 | ||||
| 4.250%, 02/15/2048 |
60,000 | 53,965 | ||||||
| 4.200%, 01/31/2050 |
5,000 | 4,444 | ||||||
| 3.300%, 02/15/2053 |
15,000 | 11,592 | ||||||
| 3.200%, 02/15/2052 |
35,000 | 26,461 | ||||||
| Exxon Mobil |
||||||||
| 4.327%, 03/19/2050 |
5,000 | 4,984 | ||||||
| 4.227%, 03/19/2040 |
70,000 | 69,615 | ||||||
| 3.452%, 04/15/2051 |
40,000 | 34,781 | ||||||
| 3.095%, 08/16/2049 |
20,000 | 16,360 | ||||||
| Halliburton |
||||||||
| 5.000%, 11/15/2045 |
20,000 | 19,371 | ||||||
| Hess |
||||||||
| 6.000%, 01/15/2040 |
5,000 | 5,250 | ||||||
| 5.800%, 04/01/2047 |
80,000 | 82,372 | ||||||
| Kinder Morgan |
||||||||
| 5.550%, 06/01/2045 |
35,000 | 34,967 | ||||||
| 5.450%, 08/01/2052 |
20,000 | 20,055 | ||||||
| 5.200%, 03/01/2048 |
35,000 | 33,513 | ||||||
| 5.050%, 02/15/2046 |
25,000 | 23,346 | ||||||
| 3.250%, 08/01/2050 |
15,000 | 10,906 | ||||||
| Marathon Petroleum |
||||||||
| 4.750%, 09/15/2044 |
25,000 | 22,883 | ||||||
| MPLX |
||||||||
| 4.950%, 03/14/2052 |
10,000 | 9,076 | ||||||
| 4.500%, 04/15/2038 |
30,000 | 27,717 | ||||||
| 2.650%, 08/15/2030 |
65,000 | 56,425 | ||||||
| Phillips 66 |
||||||||
| 4.900%, 10/01/2046 (A) |
25,000 | 24,611 | ||||||
| 3.300%, 03/15/2052 |
35,000 | 27,707 | ||||||
| Sabal Trail Transmission |
||||||||
| 4.832%, 05/01/2048 (A) |
40,000 | 36,525 | ||||||
| 4.682%, 05/01/2038 (A) |
40,000 | 38,376 | ||||||
| Shell International Finance BV |
||||||||
| 4.125%, 05/11/2035 |
60,000 | 60,100 | ||||||
| 3.750%, 09/12/2046 |
60,000 | 54,161 | ||||||
| 3.000%, 11/26/2051 |
10,000 | 7,980 | ||||||
| Southern Natural Gas |
||||||||
| 4.800%, 03/15/2047 (A) |
25,000 | 22,669 | ||||||
| Suncor Energy |
||||||||
| 3.750%, 03/04/2051 |
50,000 | 42,155 | ||||||
| Texas Eastern Transmission |
||||||||
| 4.150%, 01/15/2048 (A) |
45,000 | 38,946 | ||||||
| TotalEnergies Capital International |
||||||||
| 3.127%, 05/29/2050 |
110,000 | 88,852 | ||||||
| 2.986%, 06/29/2041 |
40,000 | 33,283 | ||||||
| The Advisors’ Inner Circle Fund III | LGIM America | |||
| Long Duration U.S. Credit Fund | ||||
| July 31, 2022 (Unaudited) | ||||
| SCHEDULE OF INVESTMENTS
CORPORATE OBLIGATIONS (continued) |
| Face Amount |
Value | |||||||
| ENERGY (continued) |
||||||||
| TransCanada PipeLines |
||||||||
| 5.100%, 03/15/2049 |
$ | 15,000 | $ | 15,597 | ||||
| 4.750%, 05/15/2038 |
110,000 | 108,124 | ||||||
| Williams |
||||||||
| 6.300%, 04/15/2040 |
65,000 | 71,392 | ||||||
| 5.750%, 06/24/2044 |
70,000 | 72,852 | ||||||
| 3.500%, 10/15/2051 |
10,000 | 7,845 | ||||||
| 2.600%, 03/15/2031 |
60,000 | 52,095 | ||||||
|
|
|
| ||||||
| 2,068,774 | ||||||||
|
|
|
| ||||||
| FINANCIALS — 12.5% |
||||||||
| American International Group |
||||||||
| 4.375%, 06/30/2050 |
60,000 | 56,616 | ||||||
| ASB Bank |
||||||||
| 2.375%, 10/22/2031 (A) |
15,000 | 12,850 | ||||||
| Bank of America |
||||||||
| 5.015%, U.S. SOFR + 2.160%, 07/22/2033 |
45,000 | 46,897 | ||||||
| 3.311%, U.S. SOFR + 1.580%, 04/22/2042 |
140,000 | 115,561 | ||||||
| 2.972%, U.S. SOFR + 1.330%, 02/04/2033 |
25,000 | 22,088 | ||||||
| 2.687%, U.S. SOFR + 1.320%, 04/22/2032 |
175,000 | 152,173 | ||||||
| 2.572%, U.S. SOFR + 1.210%, 10/20/2032 |
60,000 | 51,388 | ||||||
| Bank of America MTN |
||||||||
| 2.676%, U.S. SOFR + 1.930%, 06/19/2041 |
195,000 | 147,619 | ||||||
| Berkshire Hathaway Finance |
||||||||
| 4.200%, 08/15/2048 |
80,000 | 78,661 | ||||||
| 3.850%, 03/15/2052 |
40,000 | 36,233 | ||||||
| Blackstone Holdings Finance |
||||||||
| 2.000%, 01/30/2032 (A) |
25,000 | 20,604 | ||||||
| BNP Paribas |
||||||||
| 3.132%, U.S. SOFR + 1.561%, 01/20/2033 (A) |
5,000 | 4,271 | ||||||
| CI Financial |
||||||||
| 4.100%, 06/15/2051 |
70,000 | 48,495 | ||||||
| Citigroup |
||||||||
| 4.650%, 07/23/2048 |
45,000 | 44,453 | ||||||
| 3.878%, ICE LIBOR USD 3 Month + 1.168%, 01/24/2039 |
50,000 | 45,109 | ||||||
| 2.904%, U.S. SOFR + 1.379%, 11/03/2042 |
35,000 | 26,959 | ||||||
| 2.561%, U.S. SOFR + 1.167%, 05/01/2032 |
85,000 | 73,015 | ||||||
| Commonwealth Bank of Australia MTN |
||||||||
| 3.743%, 09/12/2039 (A) |
25,000 | 20,936 | ||||||
| Corebridge Financial |
||||||||
| 4.400%, 04/05/2052 (A) |
50,000 | 43,063 | ||||||
| 4.350%, 04/05/2042 (A) |
10,000 | 8,778 | ||||||
| 3.900%, 04/05/2032 (A) |
45,000 | 41,875 | ||||||
| Global Atlantic Finance |
||||||||
| 3.125%, 06/15/2031 (A) |
35,000 | 28,400 | ||||||
| The Advisors’ Inner Circle Fund III | LGIM America | |||
| Long Duration U.S. Credit Fund | ||||
| July 31, 2022 (Unaudited) | ||||
| SCHEDULE OF INVESTMENTS
CORPORATE OBLIGATIONS (continued) |
| Face Amount |
Value | |||||||
| FINANCIALS (continued) |
||||||||
| Goldman Sachs Group |
||||||||
| 5.150%, 05/22/2045 |
$ | 50,000 | $ | 50,431 | ||||
| 4.017%, ICE LIBOR USD 3 Month + 1.373%, 10/31/2038 |
130,000 | 120,502 | ||||||
| 3.436%, U.S. SOFR + 1.632%, 02/24/2043 |
85,000 | 71,092 | ||||||
| 2.908%, U.S. SOFR + 1.472%, 07/21/2042 |
5,000 | 3,835 | ||||||
| 2.650%, U.S. SOFR + 1.264%, 10/21/2032 |
50,000 | 43,216 | ||||||
| 1.992%, U.S. SOFR + 1.090%, 01/27/2032 |
35,000 | 28,836 | ||||||
| Goldman Sachs Group MTN |
||||||||
| 4.800%, 07/08/2044 |
70,000 | 69,214 | ||||||
| ING Groep |
||||||||
| 4.252%, U.S. SOFR + 2.070%, 03/28/2033 |
15,000 | 14,316 | ||||||
| JPMorgan Chase |
||||||||
| 3.328%, U.S. SOFR + 1.580%, 04/22/2052 |
180,000 | 143,539 | ||||||
| 3.109%, U.S. SOFR + 2.460%, 04/22/2041 |
135,000 | 109,904 | ||||||
| 1.953%, U.S. SOFR + 1.065%, 02/04/2032 |
125,000 | 103,972 | ||||||
| MetLife |
||||||||
| 4.721%, 12/15/2044 |
50,000 | 49,556 | ||||||
| Mitsubishi UFJ Financial Group |
||||||||
| 3.751%, 07/18/2039 |
20,000 | 17,816 | ||||||
| Morgan Stanley |
||||||||
| 3.217%, U.S. SOFR + 1.485%, 04/22/2042 |
95,000 | 78,817 | ||||||
| Morgan Stanley MTN |
||||||||
| 2.802%, U.S. SOFR + 1.430%, 01/25/2052 |
55,000 | 39,933 | ||||||
| 2.239%, U.S. SOFR + 1.178%, 07/21/2032 |
50,000 | 42,161 | ||||||
| Prudential Financial MTN |
||||||||
| 5.750%, 07/15/2033 |
15,000 | 17,005 | ||||||
| 3.700%, 03/13/2051 |
50,000 | 43,155 | ||||||
| S&P Global |
||||||||
| 3.900%, 03/01/2062 (A) |
10,000 | 9,110 | ||||||
| 3.700%, 03/01/2052 (A) |
5,000 | 4,533 | ||||||
| UBS MTN |
||||||||
| 4.500%, 06/26/2048 (A) |
25,000 | 24,181 | ||||||
| UBS Group |
||||||||
| 2.746%, US Treas Yield Curve Rate T Note Const Mat 1 Yr + 1.100%, 02/11/2033 (A) |
5,000 | 4,190 | ||||||
| UBS Group MTN |
||||||||
| 2.095%, US Treas Yield Curve Rate T Note Const Mat 1 Yr + 1.000%, 02/11/2032 (A) |
5,000 | 4,050 | ||||||
| US Bancorp |
||||||||
| 2.491%, US Treas Yield Curve Rate T Note Const Mat 5 Yr + 0.950%, 11/03/2036 |
65,000 | 54,917 | ||||||
| Wells Fargo MTN |
||||||||
| 5.013%, U.S. SOFR + 4.502%, 04/04/2051 |
80,000 | 82,966 | ||||||
| 4.900%, 11/17/2045 |
25,000 | 24,238 | ||||||
| 4.897%, U.S. SOFR + 2.100%, 07/25/2033 |
25,000 | 25,884 | ||||||
| 4.611%, U.S. SOFR + 2.130%, 04/25/2053 |
130,000 | 127,245 | ||||||
| 4.400%, 06/14/2046 |
220,000 | 199,329 | ||||||
| The Advisors’ Inner Circle Fund III | LGIM America | |||
| Long Duration U.S. Credit Fund | ||||
| July 31, 2022 (Unaudited) | ||||
| SCHEDULE OF INVESTMENTS
CORPORATE OBLIGATIONS (continued) |
| Face Amount |
Value | |||||||
| FINANCIALS (continued) |
||||||||
| Westpac Banking |
||||||||
| 3.133%, 11/18/2041 |
$ | 25,000 | $ | 19,130 | ||||
| 3.020%, US Treas Yield Curve Rate T Note Const Mat 5 Yr + 1.530%, 11/18/2036 |
25,000 | 20,600 | ||||||
|
|
|
| ||||||
| 2,773,717 | ||||||||
|
|
|
| ||||||
| HEALTH CARE — 9.1% |
||||||||
| Abbott Laboratories |
||||||||
| 4.900%, 11/30/2046 |
35,000 | 38,719 | ||||||
| AbbVie |
||||||||
| 4.500%, 05/14/2035 |
55,000 | 55,996 | ||||||
| 4.250%, 11/21/2049 |
200,000 | 187,727 | ||||||
| 4.050%, 11/21/2039 |
155,000 | 145,890 | ||||||
| Amgen |
||||||||
| 4.200%, 02/22/2052 |
5,000 | 4,652 | ||||||
| 3.375%, 02/21/2050 |
45,000 | 36,635 | ||||||
| 3.350%, 02/22/2032 |
15,000 | 14,354 | ||||||
| 3.150%, 02/21/2040 |
70,000 | 58,800 | ||||||
| BayCare Health System |
||||||||
| 3.831%, 11/15/2050 |
15,000 | 13,296 | ||||||
| Baylor Scott & White Holdings |
||||||||
| 2.839%, 11/15/2050 |
20,000 | 14,926 | ||||||
| Boston Scientific |
||||||||
| 4.700%, 03/01/2049 |
5,000 | 4,994 | ||||||
| 4.550%, 03/01/2039 |
23,000 | 22,466 | ||||||
| Bristol-Myers Squibb |
||||||||
| 3.700%, 03/15/2052 |
77,000 | 69,886 | ||||||
| 3.550%, 03/15/2042 |
35,000 | 32,258 | ||||||
| 2.550%, 11/13/2050 |
68,000 | 50,447 | ||||||
| 2.350%, 11/13/2040 |
20,000 | 15,655 | ||||||
| Cigna |
||||||||
| 3.200%, 03/15/2040 |
70,000 | 58,693 | ||||||
| CVS Health |
||||||||
| 5.050%, 03/25/2048 |
26,000 | 26,338 | ||||||
| 4.780%, 03/25/2038 |
15,000 | 14,962 | ||||||
| 3.250%, 08/15/2029 |
31,000 | 29,310 | ||||||
| 2.700%, 08/21/2040 |
90,000 | 68,714 | ||||||
| Danaher |
||||||||
| 2.800%, 12/10/2051 |
70,000 | 53,849 | ||||||
| 2.600%, 10/01/2050 |
10,000 | 7,365 | ||||||
| DH Europe Finance II Sarl |
||||||||
| 3.400%, 11/15/2049 |
15,000 | 12,851 | ||||||
| 3.250%, 11/15/2039 |
45,000 | 39,280 | ||||||
| Elevance Health |
||||||||
| 3.600%, 03/15/2051 |
35,000 | 30,017 | ||||||
| Gilead Sciences |
||||||||
| 4.600%, 09/01/2035 |
40,000 | 41,487 | ||||||
| The Advisors’ Inner Circle Fund III | LGIM America | |||
| Long Duration U.S. Credit Fund | ||||
| July 31, 2022 (Unaudited) | ||||
| SCHEDULE OF INVESTMENTS
CORPORATE OBLIGATIONS (continued) |
| Face Amount |
Value | |||||||
| HEALTH CARE (continued) |
||||||||
| 4.500%, 02/01/2045 |
$ | 15,000 | $ | 14,566 | ||||
| HCA |
||||||||
| 5.250%, 06/15/2049 |
20,000 | 18,743 | ||||||
| 4.625%, 03/15/2052 (A) |
80,000 | 69,635 | ||||||
| 4.375%, 03/15/2042 (A) |
10,000 | 8,589 | ||||||
| 3.500%, 07/15/2051 |
18,000 | 13,200 | ||||||
| Kaiser Foundation Hospitals |
||||||||
| 3.266%, 11/01/2049 |
25,000 | 20,307 | ||||||
| 3.002%, 06/01/2051 |
60,000 | 46,451 | ||||||
| 2.810%, 06/01/2041 |
45,000 | 35,792 | ||||||
| Merck |
||||||||
| 2.350%, 06/24/2040 |
5,000 | 3,903 | ||||||
| New York and Presbyterian Hospital |
||||||||
| 2.606%, 08/01/2060 |
10,000 | 6,522 | ||||||
| 2.256%, 08/01/2040 |
15,000 | 11,070 | ||||||
| Northwell Healthcare |
||||||||
| 4.260%, 11/01/2047 |
15,000 | 13,568 | ||||||
| Novartis Capital |
||||||||
| 4.400%, 05/06/2044 |
15,000 | 15,848 | ||||||
| 2.750%, 08/14/2050 |
90,000 | 73,647 | ||||||
| Pfizer |
||||||||
| 2.700%, 05/28/2050 |
15,000 | 12,124 | ||||||
| 2.550%, 05/28/2040 |
60,000 | 49,420 | ||||||
| Roche Holdings |
||||||||
| 2.607%, 12/13/2051 (A) |
108,000 | 82,151 | ||||||
| Sutter Health |
||||||||
| 3.361%, 08/15/2050 |
20,000 | 16,073 | ||||||
| Thermo Fisher Scientific |
||||||||
| 2.800%, 10/15/2041 |
40,000 | 33,058 | ||||||
| 2.000%, 10/15/2031 |
2,000 | 1,777 | ||||||
| UnitedHealth Group |
||||||||
| 4.950%, 05/15/2062 |
30,000 | 32,409 | ||||||
| 4.750%, 05/15/2052 |
35,000 | 37,043 | ||||||
| 3.250%, 05/15/2051 |
170,000 | 142,659 | ||||||
| 3.050%, 05/15/2041 |
130,000 | 110,659 | ||||||
|
|
|
| ||||||
| 2,018,781 | ||||||||
|
|
|
| ||||||
| INDUSTRIALS — 9.2% |
||||||||
| AerCap Ireland Capital DAC |
||||||||
| 3.850%, 10/29/2041 |
10,000 | 7,634 | ||||||
| 3.300%, 01/30/2032 |
120,000 | 100,640 | ||||||
| Boeing |
||||||||
| 5.930%, 05/01/2060 |
20,000 | 19,791 | ||||||
| 5.805%, 05/01/2050 |
195,000 | 193,500 | ||||||
| 5.705%, 05/01/2040 |
285,000 | 284,528 | ||||||
| 3.625%, 02/01/2031 |
60,000 | 55,092 | ||||||
| The Advisors’ Inner Circle Fund III | LGIM America | |||
| Long Duration U.S. Credit Fund | ||||
| July 31, 2022 (Unaudited) | ||||
| SCHEDULE OF INVESTMENTS
CORPORATE OBLIGATIONS (continued) |
| Face Amount |
Value | |||||||
| INDUSTRIALS (continued) |
||||||||
| Burlington Northern Santa Fe |
||||||||
| 4.150%, 04/01/2045 |
$ | 145,000 | $ | 140,046 | ||||
| 2.875%, 06/15/2052 |
40,000 | 31,662 | ||||||
| Canadian Pacific Railway |
||||||||
| 6.125%, 09/15/2115 |
60,000 | 66,729 | ||||||
| 3.100%, 12/02/2051 |
40,000 | 31,479 | ||||||
| 3.000%, 12/02/2041 |
25,000 | 20,731 | ||||||
| Carrier Global |
||||||||
| 3.577%, 04/05/2050 |
35,000 | 27,815 | ||||||
| 3.377%, 04/05/2040 |
40,000 | 33,046 | ||||||
| Caterpillar |
||||||||
| 4.750%, 05/15/2064 |
40,000 | 42,681 | ||||||
| CSX |
||||||||
| 4.500%, 11/15/2052 |
70,000 | 69,560 | ||||||
| GE Capital International Funding Unlimited Co |
||||||||
| 4.418%, 11/15/2035 |
315,000 | 310,721 | ||||||
| General Dynamics |
||||||||
| 2.850%, 06/01/2041 |
15,000 | 12,362 | ||||||
| Lockheed Martin |
||||||||
| 4.500%, 05/15/2036 |
45,000 | 47,431 | ||||||
| Northrop Grumman |
||||||||
| 4.030%, 10/15/2047 |
130,000 | 121,886 | ||||||
| Raytheon Technologies |
||||||||
| 4.500%, 06/01/2042 |
240,000 | 240,477 | ||||||
| 3.030%, 03/15/2052 |
100,000 | 78,485 | ||||||
| Union Pacific |
||||||||
| 3.799%, 10/01/2051 |
85,000 | 77,232 | ||||||
| 3.500%, 02/14/2053 |
20,000 | 17,247 | ||||||
| 3.375%, 02/14/2042 |
10,000 | 8,817 | ||||||
| Union Pacific MTN |
||||||||
| 3.550%, 08/15/2039 |
15,000 | 13,599 | ||||||
|
|
|
| ||||||
| 2,053,191 | ||||||||
|
|
|
| ||||||
| INFORMATION TECHNOLOGY — 6.0% |
||||||||
| Analog Devices |
||||||||
| 2.950%, 10/01/2051 |
40,000 | 32,702 | ||||||
| 2.800%, 10/01/2041 |
40,000 | 33,334 | ||||||
| Apple |
||||||||
| 3.850%, 05/04/2043 |
15,000 | 14,564 | ||||||
| 2.650%, 02/08/2051 |
140,000 | 109,182 | ||||||
| 2.375%, 02/08/2041 |
330,000 | 265,948 | ||||||
| Broadcom |
||||||||
| 3.750%, 02/15/2051 (A) |
5,000 | 3,919 | ||||||
| 3.500%, 02/15/2041 (A) |
50,000 | 39,839 | ||||||
| Intel |
||||||||
| 3.734%, 12/08/2047 |
45,000 | 39,418 | ||||||
| The Advisors’ Inner Circle Fund III | LGIM America | |||
| Long Duration U.S. Credit Fund | ||||
| July 31, 2022 (Unaudited) | ||||
| SCHEDULE OF INVESTMENTS
CORPORATE OBLIGATIONS (continued) |
| Face Amount |
Value | |||||||
| INFORMATION TECHNOLOGY (continued) |
||||||||
| KLA |
||||||||
| 4.950%, 07/15/2052 |
$ | 40,000 | $ | 42,849 | ||||
| Microsoft |
||||||||
| 3.450%, 08/08/2036 |
60,000 | 60,110 | ||||||
| 3.041%, 03/17/2062 |
90,000 | 74,942 | ||||||
| 2.921%, 03/17/2052 |
225,000 | 189,403 | ||||||
| NVIDIA |
||||||||
| 3.500%, 04/01/2040 |
25,000 | 23,037 | ||||||
| 3.500%, 04/01/2050 |
10,000 | 8,989 | ||||||
| Oracle |
||||||||
| 4.125%, 05/15/2045 |
80,000 | 63,836 | ||||||
| 4.000%, 11/15/2047 |
10,000 | 7,705 | ||||||
| 3.950%, 03/25/2051 |
35,000 | 27,101 | ||||||
| 3.650%, 03/25/2041 |
140,000 | 108,803 | ||||||
| 3.600%, 04/01/2050 |
10,000 | 7,277 | ||||||
| salesforce.com |
||||||||
| 3.050%, 07/15/2061 |
20,000 | 15,831 | ||||||
| 2.900%, 07/15/2051 |
45,000 | 36,180 | ||||||
| 2.700%, 07/15/2041 |
55,000 | 45,178 | ||||||
| Visa |
||||||||
| 2.700%, 04/15/2040 |
115,000 | 97,898 | ||||||
|
|
|
| ||||||
| 1,348,045 | ||||||||
|
|
|
| ||||||
| MATERIALS — 2.1% |
||||||||
| Celanese US Holdings |
||||||||
| 6.379%, 07/15/2032 |
55,000 | 56,529 | ||||||
| Freeport-McMoRan |
||||||||
| 5.450%, 03/15/2043 |
96,000 | 89,887 | ||||||
| 5.400%, 11/14/2034 |
4,000 | 3,999 | ||||||
| International Flavors & Fragrances |
||||||||
| 5.000%, 09/26/2048 |
5,000 | 4,865 | ||||||
| 3.468%, 12/01/2050 (A) |
80,000 | 61,741 | ||||||
| 3.268%, 11/15/2040 (A) |
55,000 | 44,038 | ||||||
| Minera Mexico |
||||||||
| 4.500%, 01/26/2050 (A) |
70,000 | 55,255 | ||||||
| Newmont |
||||||||
| 5.875%, 04/01/2035 |
155,000 | 168,055 | ||||||
|
|
|
| ||||||
| 484,369 | ||||||||
|
|
|
| ||||||
| REAL ESTATE — 2.3% |
||||||||
| Agree |
||||||||
| 2.900%, 10/01/2030 |
10,000 | 8,733 | ||||||
| 2.600%, 06/15/2033 |
50,000 | 41,260 | ||||||
| Alexandria Real Estate Equities |
||||||||
| 3.550%, 03/15/2052 |
65,000 | 51,754 | ||||||
| The Advisors’ Inner Circle Fund III | LGIM America | |||
| Long Duration U.S. Credit Fund | ||||
| July 31, 2022 (Unaudited) | ||||
| SCHEDULE OF INVESTMENTS
CORPORATE OBLIGATIONS (continued) |
| Face Amount |
Value | |||||||
| REAL ESTATE (continued) |
||||||||
| American Homes 4 Rent |
||||||||
| 4.300%, 04/15/2052 |
$ | 30,000 | $ | 25,163 | ||||
| 3.625%, 04/15/2032 |
20,000 | 18,185 | ||||||
| 3.375%, 07/15/2051 |
10,000 | 7,143 | ||||||
| 2.375%, 07/15/2031 |
5,000 | 4,126 | ||||||
| Extra Space Storage |
||||||||
| 2.350%, 03/15/2032 |
20,000 | 16,242 | ||||||
| Regency Centers |
||||||||
| 4.650%, 03/15/2049 |
50,000 | 45,955 | ||||||
| Rexford Industrial Realty |
||||||||
| 2.150%, 09/01/2031 |
55,000 | 45,080 | ||||||
| 2.125%, 12/01/2030 |
5,000 | 4,154 | ||||||
| Simon Property Group |
||||||||
| 3.800%, 07/15/2050 |
65,000 | 54,017 | ||||||
| Sun Communities Operating |
||||||||
| 4.200%, 04/15/2032 |
60,000 | 56,058 | ||||||
| 2.700%, 07/15/2031 |
45,000 | 37,558 | ||||||
| VICI Properties |
||||||||
| 5.625%, 05/15/2052 |
40,000 | 38,646 | ||||||
| 5.125%, 05/15/2032 |
60,000 | 59,779 | ||||||
|
|
|
| ||||||
| 513,853 | ||||||||
|
|
|
| ||||||
| UTILITIES — 11.1% |
||||||||
| AEP Texas |
||||||||
| 3.450%, 01/15/2050 |
60,000 | 48,284 | ||||||
| AEP Transmission |
||||||||
| 3.650%, 04/01/2050 |
35,000 | 30,464 | ||||||
| AES |
||||||||
| 2.450%, 01/15/2031 |
40,000 | 33,826 | ||||||
| Ameren Illinois |
||||||||
| 4.500%, 03/15/2049 |
60,000 | 59,929 | ||||||
| American Water Capital |
||||||||
| 3.450%, 05/01/2050 |
40,000 | 33,214 | ||||||
| Arizona Public Service |
||||||||
| 3.500%, 12/01/2049 |
20,000 | 15,526 | ||||||
| Baltimore Gas and Electric |
||||||||
| 2.900%, 06/15/2050 |
45,000 | 34,528 | ||||||
| Berkshire Hathaway Energy |
||||||||
| 4.250%, 10/15/2050 |
35,000 | 33,822 | ||||||
| CenterPoint Energy Houston Electric |
||||||||
| 3.600%, 03/01/2052 |
20,000 | 17,881 | ||||||
| Commonwealth Edison |
||||||||
| 3.000%, 03/01/2050 |
65,000 | 52,218 | ||||||
| Constellation Energy Generation |
||||||||
| 6.250%, 10/01/2039 |
28,000 | 29,888 | ||||||
| 5.750%, 10/01/2041 |
25,000 | 25,210 | ||||||
| 5.600%, 06/15/2042 |
85,000 | 84,500 | ||||||
| The Advisors’ Inner Circle Fund III | LGIM America | |||
| Long Duration U.S. Credit Fund | ||||
| July 31, 2022 (Unaudited) | ||||
| SCHEDULE OF INVESTMENTS
CORPORATE OBLIGATIONS (continued) |
| Face Amount |
Value | |||||||
| UTILITIES (continued) |
||||||||
| Consumers Energy |
||||||||
| 2.500%, 05/01/2060 |
$ | 60,000 | $ | 40,790 | ||||
| Dominion Energy |
||||||||
| 3.375%, 04/01/2030 |
135,000 | 128,251 | ||||||
| Duke Energy Carolinas |
||||||||
| 4.000%, 09/30/2042 |
130,000 | 121,523 | ||||||
| 3.550%, 03/15/2052 |
15,000 | 13,049 | ||||||
| Duke Energy Florida |
||||||||
| 6.350%, 09/15/2037 |
80,000 | 94,557 | ||||||
| Duke Energy Ohio |
||||||||
| 4.300%, 02/01/2049 |
90,000 | 85,230 | ||||||
| Emera US Finance |
||||||||
| 4.750%, 06/15/2046 |
45,000 | 41,667 | ||||||
| Entergy |
||||||||
| 3.750%, 06/15/2050 |
45,000 | 37,009 | ||||||
| Entergy Arkansas |
||||||||
| 2.650%, 06/15/2051 |
75,000 | 54,446 | ||||||
| Entergy Louisiana |
||||||||
| 3.100%, 06/15/2041 |
65,000 | 53,921 | ||||||
| Exelon |
||||||||
| 4.950%, 06/15/2035 |
65,000 | 66,292 | ||||||
| FirstEnergy Transmission |
||||||||
| 5.450%, 07/15/2044 (A) |
10,000 | 10,145 | ||||||
| 4.550%, 04/01/2049 (A) |
10,000 | 9,103 | ||||||
| Florida Power & Light |
||||||||
| 4.125%, 02/01/2042 |
65,000 | 63,565 | ||||||
| Georgia Power |
||||||||
| 3.700%, 01/30/2050 |
50,000 | 41,329 | ||||||
| MidAmerican Energy |
||||||||
| 3.150%, 04/15/2050 |
40,000 | 32,808 | ||||||
| Monongahela Power |
||||||||
| 5.400%, 12/15/2043 (A) |
45,000 | 46,582 | ||||||
| NextEra Energy Capital Holdings |
||||||||
| 5.000%, 07/15/2032 |
15,000 | 16,061 | ||||||
| NiSource |
||||||||
| 4.375%, 05/15/2047 |
40,000 | 36,984 | ||||||
| Northern States Power |
||||||||
| 4.500%, 06/01/2052 |
20,000 | 20,674 | ||||||
| 2.900%, 03/01/2050 |
50,000 | 39,620 | ||||||
| Oglethorpe Power |
||||||||
| 5.375%, 11/01/2040 |
65,000 | 66,467 | ||||||
| 4.500%, 04/01/2047 (A) |
30,000 | 26,772 | ||||||
| 3.750%, 08/01/2050 |
135,000 | 109,758 | ||||||
| Oncor Electric Delivery |
||||||||
| 7.250%, 01/15/2033 |
65,000 | 83,353 | ||||||
| 5.300%, 06/01/2042 |
85,000 | 93,393 | ||||||
| 3.700%, 05/15/2050 |
105,000 | 94,962 | ||||||
| The Advisors’ Inner Circle Fund III | LGIM America | |||
| Long Duration U.S. Credit Fund | ||||
| July 31, 2022 (Unaudited) | ||||
| SCHEDULE OF INVESTMENTS
CORPORATE OBLIGATIONS (continued) |
| Face Amount |
Value | |||||||
| UTILITIES (continued) |
||||||||
| Pacific Gas and Electric |
||||||||
| 4.200%, 06/01/2041 |
$ | 40,000 | $ | 30,615 | ||||
| 3.500%, 08/01/2050 |
60,000 | 42,384 | ||||||
| 3.300%, 08/01/2040 |
10,000 | 7,317 | ||||||
| PacifiCorp |
||||||||
| 3.300%, 03/15/2051 |
50,000 | 41,337 | ||||||
| Potomac Electric Power |
||||||||
| 4.150%, 03/15/2043 |
45,000 | 42,600 | ||||||
| PPL Electric Utilities |
||||||||
| 3.000%, 10/01/2049 |
60,000 | 47,436 | ||||||
| Public Service of Colorado |
||||||||
| 6.250%, 09/01/2037 |
50,000 | 60,633 | ||||||
| 2.700%, 01/15/2051 |
60,000 | 45,184 | ||||||
| San Diego Gas & Electric |
||||||||
| 3.320%, 04/15/2050 |
15,000 | 12,289 | ||||||
| Sempra Energy |
||||||||
| 4.000%, 02/01/2048 |
25,000 | 21,951 | ||||||
| 3.800%, 02/01/2038 |
40,000 | 35,690 | ||||||
| Southern California Edison |
||||||||
| 3.650%, 02/01/2050 |
80,000 | 64,107 | ||||||
| Tucson Electric Power |
||||||||
| 4.000%, 06/15/2050 |
5,000 | 4,369 | ||||||
|
|
|
| ||||||
| 2,483,513 | ||||||||
|
|
|
| ||||||
| TOTAL CORPORATE OBLIGATIONS |
18,726,035 | |||||||
|
|
|
| ||||||
| U.S. TREASURY OBLIGATIONS — 6.1% | ||||||||
| U.S. Treasury Bonds |
||||||||
| 3.250%, 05/15/2042 |
145,000 | 145,181 | ||||||
| 2.250%, 02/15/2052 |
1,240,000 | 1,044,894 | ||||||
| U.S. Treasury Note |
||||||||
| 2.875%, 05/15/2032 |
165,000 | 167,939 | ||||||
|
|
|
| ||||||
| TOTAL U.S. TREASURY OBLIGATIONS |
1,358,014 | |||||||
|
|
|
| ||||||
| MUNICIPAL BONDS — 5.1% | ||||||||
| CALIFORNIA — 2.1% |
||||||||
| Bay Area, Toll Authority, RB |
||||||||
| 6.263%, 04/01/2049 |
100,000 | 127,599 | ||||||
| The Advisors’ Inner Circle Fund III | LGIM America | |||
| Long Duration U.S. Credit Fund | ||||
| July 31, 2022 (Unaudited) | ||||
| SCHEDULE OF INVESTMENTS
MUNICIPAL BONDS (continued) |
| Face Amount |
Value | |||||||
| CALIFORNIA (continued) |
||||||||
| California State, GO |
||||||||
| 7.600%, 11/01/2040 |
$ | 50,000 | $ | 69,877 | ||||
| 7.550%, 04/01/2039 |
100,000 | 137,025 | ||||||
| Regents of the University of California Medical Center Pooled Revenue, Ser H, GO |
||||||||
| 6.548%, 05/15/2048 |
100,000 | 125,878 | ||||||
|
|
|
| ||||||
| 460,379 | ||||||||
|
|
|
| ||||||
| NEW JERSEY — 1.2% |
||||||||
| New Jersey, Turnpike Authority, RB |
||||||||
| 7.414%, 01/01/2040 |
200,000 | 268,740 | ||||||
|
|
|
| ||||||
| NEW YORK — 0.4% |
||||||||
| New York & New Jersey, Port Authority, RB |
||||||||
| 4.458%, 10/01/2062 |
100,000 | 101,393 | ||||||
|
|
|
| ||||||
| TEXAS — 1.4% |
||||||||
| Dallas County, Hospital District, Ser C, GO |
||||||||
| 5.621%, 08/15/2044 |
50,000 | 58,049 | ||||||
| North Texas, Tollway Authority, RB |
||||||||
| 6.718%, 01/01/2049 |
100,000 | 130,234 | ||||||
| Texas State, GO |
||||||||
| 5.517%, 04/01/2039 |
100,000 | 116,696 | ||||||
|
|
|
| ||||||
| 304,979 | ||||||||
|
|
|
| ||||||
| TOTAL MUNICIPAL BONDS |
1,135,491 | |||||||
|
|
|
| ||||||
| SOVEREIGN DEBT — 2.2% | ||||||||
| Chile Government International Bond |
||||||||
| 4.340%, 03/07/2042 |
40,000 | 36,823 | ||||||
| 4.000%, 01/31/2052 |
10,000 | 8,633 | ||||||
| Mexico Government International Bond |
||||||||
| 5.750%, 10/12/2110 |
85,000 | 75,351 | ||||||
| 5.000%, 04/27/2051 |
85,000 | 74,289 | ||||||
| 4.500%, 01/31/2050 |
5,000 | 4,096 | ||||||
| 4.280%, 08/14/2041 |
20,000 | 16,557 | ||||||
| Panama Government International Bond |
||||||||
| 4.500%, 04/16/2050 |
85,000 | 69,989 | ||||||
| 3.870%, 07/23/2060 |
50,000 | 36,406 | ||||||
| Perusahaan Penerbit SBSN Indonesia III |
||||||||
| 3.550%, 06/09/2051 (A) |
15,000 | 12,450 | ||||||
| Philippine Government International Bond |
||||||||
| 3.200%, 07/06/2046 |
80,000 | 63,841 | ||||||
| 2.950%, 05/05/2045 |
35,000 | 27,261 | ||||||
| The Advisors’ Inner Circle Fund III | LGIM America | |||
| Long Duration U.S. Credit Fund | ||||
| July 31, 2022 (Unaudited) | ||||
| SCHEDULE OF INVESTMENTS
SOVEREIGN DEBT (continued) |
| Face Amount |
Value | |||||||
| Uruguay Government International Bond |
||||||||
| 5.100%, 06/18/2050 |
$ | 65,000 | $ | 68,849 | ||||
|
|
|
| ||||||
| TOTAL SOVEREIGN DEBT |
494,545 | |||||||
|
|
|
| ||||||
| TOTAL INVESTMENTS— 97.3% |
$ | 21,714,085 | ||||||
|
|
|
| ||||||
|
|
|
| ||||||
Percentages are based on Net Assets of $22,319,173.
| (A) | Security exempt from registration under Rule 144A of the Securities Act of 1933. These securities may be resold in transactions exempt from registration normally to qualified institutions. On July 31, 2022, the value of these securities amounted to $1,218,277, representing 5.5% of the Net Assets of the Fund. |
DAC — Designated Activity Company
GO — General Obligation
ICE — Intercontinental Exchange
LIBOR — London Interbank Offered Rate
MTN — Medium Term Note
RB — Revenue Bond
REIT — Real Estate Investment Trust
Ser — Series
SOFR — Secured Overnight Financing Rate
VAR — Variable Rate
USD — U.S. Dollar
The following is a summary of the inputs used as of July 31, 2022, in valuing the Fund’s investments carried at value:
| Investments in Securities | Level 1 | Level 2 | Level 3 | Total | ||||||||||||
| Corporate Obligations |
$ | — | $ | 18,726,035 | $ | — | $ | 18,726,035 | ||||||||
| U.S. Treasury Obligations |
145,181 | 1,212,833 | — | 1,358,014 | ||||||||||||
| Municipal Bonds |
— | 1,135,491 | — | 1,135,491 | ||||||||||||
| Sovereign Debt |
— | 494,545 | — | 494,545 | ||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
| |||||
| Total Investments in Securities |
$ | 145,181 | $ | 21,568,904 | $ | — | $ | 21,714,085 | ||||||||
|
|
|
| ||||||||||||||
|
|
|
| ||||||||||||||
For information regarding the Fund’s policies regarding valuation of investments and other significant accounting policies, please refer to the Fund’s most recent semi-annual and annual financial statements.
| The Advisors’ Inner Circle Fund III | LGIM America | |||
| U.S. Credit Fund | ||||
| July 31, 2022 (Unaudited) | ||||
| SCHEDULE OF INVESTMENTS
CORPORATE OBLIGATIONS — 93.5% |
| Face Amount |
Value | |||||||
| COMMUNICATION SERVICES — 6.9% |
||||||||
| Alphabet |
||||||||
| 1.900%, 08/15/2040 |
$ | 60,000 | $ | 45,021 | ||||
| America Movil |
||||||||
| 4.375%, 04/22/2049 |
25,000 | 23,973 | ||||||
| 3.625%, 04/22/2029 |
30,000 | 29,167 | ||||||
| AT&T |
||||||||
| 3.800%, 12/01/2057 |
50,000 | 40,515 | ||||||
| 3.650%, 09/15/2059 |
40,000 | 31,215 | ||||||
| 3.550%, 09/15/2055 |
75,000 | 58,334 | ||||||
| 3.500%, 09/15/2053 |
40,000 | 31,570 | ||||||
| 2.550%, 12/01/2033 |
140,000 | 118,535 | ||||||
| Charter Communications Operating |
||||||||
| 6.384%, 10/23/2035 |
30,000 | 31,506 | ||||||
| 4.908%, 07/23/2025 |
40,000 | 40,515 | ||||||
| 4.800%, 03/01/2050 |
40,000 | 32,988 | ||||||
| 3.900%, 06/01/2052 |
30,000 | 21,731 | ||||||
| 3.700%, 04/01/2051 |
5,000 | 3,507 | ||||||
| 3.500%, 06/01/2041 |
10,000 | 7,338 | ||||||
| Comcast |
||||||||
| 3.969%, 11/01/2047 |
30,000 | 27,135 | ||||||
| 3.950%, 10/15/2025 |
40,000 | 40,693 | ||||||
| 3.400%, 04/01/2030 |
20,000 | 19,474 | ||||||
| 3.375%, 08/15/2025 |
40,000 | 40,035 | ||||||
| 3.150%, 03/01/2026 |
40,000 | 39,786 | ||||||
| 2.937%, 11/01/2056 |
50,000 | 36,418 | ||||||
| 2.887%, 11/01/2051 |
40,000 | 29,981 | ||||||
| Fox |
||||||||
| 4.030%, 01/25/2024 |
40,000 | 40,169 | ||||||
| Magallanes |
||||||||
| 5.050%, 03/15/2042 (A) |
70,000 | 62,155 | ||||||
| Paramount Global |
||||||||
| 5.850%, 09/01/2043 |
85,000 | 82,126 | ||||||
| 4.375%, 03/15/2043 |
5,000 | 4,016 | ||||||
| Sprint Spectrum |
||||||||
| 4.738%, 03/20/2025 (A) |
9,375 | 9,412 | ||||||
| Time Warner Cable |
||||||||
| 7.300%, 07/01/2038 |
10,000 | 10,838 | ||||||
| 6.750%, 06/15/2039 |
10,000 | 10,315 | ||||||
| 6.550%, 05/01/2037 |
40,000 | 41,919 | ||||||
| 5.875%, 11/15/2040 |
10,000 | 9,542 | ||||||
| 4.500%, 09/15/2042 |
10,000 | 8,080 | ||||||
| T-Mobile USA |
||||||||
| 3.500%, 04/15/2025 |
90,000 | 89,008 | ||||||
| Verizon Communications |
||||||||
| 3.550%, 03/22/2051 |
20,000 | 16,674 | ||||||
| 3.400%, 03/22/2041 |
185,000 | 158,048 | ||||||
| The Advisors’ Inner Circle Fund III | LGIM America | |||
| U.S. Credit Fund | ||||
| July 31, 2022 (Unaudited) | ||||
| SCHEDULE OF INVESTMENTS
CORPORATE OBLIGATIONS (continued) |
| Face Amount |
Value | |||||||
| COMMUNICATION SERVICES (continued) |
||||||||
| Vodafone Group |
||||||||
| 5.000%, 05/30/2038 |
$ | 10,000 | $ | 9,916 | ||||
| Walt Disney |
||||||||
| 6.650%, 11/15/2037 |
10,000 | 12,587 | ||||||
| 6.550%, 03/15/2033 |
20,000 | 24,017 | ||||||
| 3.600%, 01/13/2051 |
40,000 | 35,180 | ||||||
| 2.750%, 09/01/2049 |
20,000 | 15,128 | ||||||
| 2.000%, 09/01/2029 |
40,000 | 35,639 | ||||||
|
|
|
| ||||||
| 1,424,206 | ||||||||
|
|
|
| ||||||
| CONSUMER DISCRETIONARY — 3.6% |
||||||||
| Amazon.com |
||||||||
| 3.950%, 04/13/2052 |
35,000 | 34,070 | ||||||
| 3.875%, 08/22/2037 |
30,000 | 30,239 | ||||||
| 3.100%, 05/12/2051 |
40,000 | 33,588 | ||||||
| 1.650%, 05/12/2028 |
40,000 | 36,762 | ||||||
| Aptiv |
||||||||
| 2.396%, 02/18/2025 |
50,000 | 48,192 | ||||||
| BMW US Capital |
||||||||
| 3.900%, 04/09/2025 (A) |
40,000 | 40,383 | ||||||
| General Motors |
||||||||
| 6.250%, 10/02/2043 |
10,000 | 9,862 | ||||||
| 5.150%, 04/01/2038 |
20,000 | 18,083 | ||||||
| General Motors Financial |
||||||||
| 3.100%, 01/12/2032 |
80,000 | 66,928 | ||||||
| 1.700%, 08/18/2023 |
120,000 | 117,230 | ||||||
| Home Depot |
||||||||
| 3.625%, 04/15/2052 |
50,000 | 44,928 | ||||||
| 3.500%, 09/15/2056 |
30,000 | 25,936 | ||||||
| 3.350%, 04/15/2050 |
20,000 | 17,098 | ||||||
| Hyundai Capital America |
||||||||
| 1.250%, 09/18/2023 (A) |
70,000 | 67,983 | ||||||
| Lowe’s |
||||||||
| 4.250%, 04/01/2052 |
25,000 | 22,672 | ||||||
| Massachusetts Institute of Technology |
||||||||
| 5.600%, 07/01/2111 |
50,000 | 61,558 | ||||||
| Northwestern University |
||||||||
| 3.662%, 12/01/2057 |
10,000 | 9,116 | ||||||
| University of Notre Dame du Lac |
||||||||
| 3.394%, 02/15/2048 |
20,000 | 18,089 | ||||||
| University of Southern California |
||||||||
| 5.250%, 10/01/2111 |
20,000 | 21,458 | ||||||
| The Advisors’ Inner Circle Fund III | LGIM America | |||
| U.S. Credit Fund | ||||
| July 31, 2022 (Unaudited) | ||||
| SCHEDULE OF INVESTMENTS
CORPORATE OBLIGATIONS (continued) |
| Face Amount |
Value | |||||||
| CONSUMER DISCRETIONARY (continued) |
||||||||
| Volkswagen Group of America Finance |
||||||||
| 4.625%, 11/13/2025 (A) |
$ | 10,000 | $ | 10,115 | ||||
|
|
|
| ||||||
| 734,290 | ||||||||
|
|
|
| ||||||
| CONSUMER STAPLES — 5.5% |
||||||||
| 7-Eleven |
||||||||
| 1.800%, 02/10/2031 (A) |
60,000 | 48,928 | ||||||
| 1.300%, 02/10/2028 (A) |
70,000 | 59,672 | ||||||
| Alimentation Couche-Tard |
||||||||
| 2.950%, 01/25/2030 (A) |
30,000 | 26,859 | ||||||
| Altria Group |
||||||||
| 4.800%, 02/14/2029 |
10,000 | 9,980 | ||||||
| 4.500%, 05/02/2043 |
10,000 | 7,731 | ||||||
| 3.875%, 09/16/2046 |
40,000 | 28,164 | ||||||
| 3.700%, 02/04/2051 |
30,000 | 19,976 | ||||||
| 3.400%, 05/06/2030 |
30,000 | 26,387 | ||||||
| 2.450%, 02/04/2032 |
45,000 | 35,259 | ||||||
| Anheuser-Busch InBev Worldwide |
||||||||
| 5.550%, 01/23/2049 |
25,000 | 27,383 | ||||||
| 4.750%, 04/15/2058 |
25,000 | 24,112 | ||||||
| 4.600%, 04/15/2048 |
115,000 | 111,040 | ||||||
| BAT Capital |
||||||||
| 4.390%, 08/15/2037 |
70,000 | 57,885 | ||||||
| 3.222%, 08/15/2024 |
90,000 | 88,386 | ||||||
| 3.215%, 09/06/2026 |
120,000 | 113,631 | ||||||
| 2.259%, 03/25/2028 |
80,000 | 68,666 | ||||||
| Hormel Foods |
||||||||
| 1.700%, 06/03/2028 |
60,000 | 55,019 | ||||||
| JBS USA LUX |
||||||||
| 5.750%, 04/01/2033 (A) |
125,000 | 123,714 | ||||||
| 3.000%, 02/02/2029 (A) |
45,000 | 38,952 | ||||||
| Keurig Dr Pepper |
||||||||
| 4.500%, 04/15/2052 |
31,000 | 28,984 | ||||||
| Kraft Heinz Foods |
||||||||
| 5.200%, 07/15/2045 |
5,000 | 4,945 | ||||||
| 4.875%, 10/01/2049 |
49,000 | 45,817 | ||||||
| Mars |
||||||||
| 3.950%, 04/01/2049 (A) |
20,000 | 18,832 | ||||||
| Mondelez International |
||||||||
| 1.875%, 10/15/2032 |
20,000 | 16,442 | ||||||
| Nestle Holdings |
||||||||
| 4.000%, 09/24/2048 (A) |
10,000 | 9,750 | ||||||
| The Advisors’ Inner Circle Fund III | LGIM America | |||
| U.S. Credit Fund | ||||
| July 31, 2022 (Unaudited) | ||||
| SCHEDULE OF INVESTMENTS
CORPORATE OBLIGATIONS (continued) |
| Face Amount |
Value | |||||||
| CONSUMER STAPLES (continued) |
||||||||
| Reynolds American |
||||||||
| 4.450%, 06/12/2025 |
$ | 80,000 | $ | 80,074 | ||||
|
|
|
| ||||||
| 1,176,588 | ||||||||
|
|
|
| ||||||
| ENERGY — 6.5% |
||||||||
| BP Capital Markets America |
||||||||
| 3.379%, 02/08/2061 |
10,000 | 7,964 | ||||||
| 3.060%, 06/17/2041 |
30,000 | 24,828 | ||||||
| 3.001%, 03/17/2052 |
50,000 | 38,666 | ||||||
| 3.000%, 02/24/2050 |
15,000 | 11,560 | ||||||
| 2.939%, 06/04/2051 |
15,000 | 11,319 | ||||||
| 2.772%, 11/10/2050 |
20,000 | 14,827 | ||||||
| Chevron USA |
||||||||
| 3.250%, 10/15/2029 |
70,000 | 68,340 | ||||||
| Columbia Pipeline Group |
||||||||
| 5.800%, 06/01/2045 |
20,000 | 21,392 | ||||||
| Devon Energy |
||||||||
| 5.600%, 07/15/2041 |
10,000 | 10,313 | ||||||
| Enbridge |
||||||||
| 2.150%, 02/16/2024 |
95,000 | 92,814 | ||||||
| Energy Transfer |
||||||||
| 6.125%, 12/15/2045 |
40,000 | 39,785 | ||||||
| 5.400%, 10/01/2047 |
30,000 | 27,502 | ||||||
| 5.350%, 05/15/2045 |
10,000 | 9,123 | ||||||
| 5.300%, 04/15/2047 |
10,000 | 9,059 | ||||||
| 4.950%, 06/15/2028 |
60,000 | 60,673 | ||||||
| 4.000%, 10/01/2027 |
30,000 | 29,085 | ||||||
| Enterprise Products Operating |
||||||||
| 3.750%, 02/15/2025 |
50,000 | 50,096 | ||||||
| EOG Resources |
||||||||
| 4.375%, 04/15/2030 |
30,000 | 31,174 | ||||||
| Equities |
||||||||
| 7.000%, 02/01/2030 |
25,000 | 27,385 | ||||||
| 3.625%, 05/15/2031 (A) |
40,000 | 36,609 | ||||||
| Exxon Mobil |
||||||||
| 4.227%, 03/19/2040 |
5,000 | 4,972 | ||||||
| 3.452%, 04/15/2051 |
40,000 | 34,781 | ||||||
| 3.095%, 08/16/2049 |
15,000 | 12,270 | ||||||
| Hess |
||||||||
| 4.300%, 04/01/2027 |
60,000 | 59,808 | ||||||
| Marathon Petroleum |
||||||||
| 4.700%, 05/01/2025 |
90,000 | 91,767 | ||||||
| Midwest Connector Capital |
||||||||
| 3.900%, 04/01/2024 (A) |
80,000 | 78,695 | ||||||
| MPLX |
||||||||
| 4.500%, 04/15/2038 |
30,000 | 27,717 | ||||||
| 1.750%, 03/01/2026 |
85,000 | 78,250 | ||||||
| The Advisors’ Inner Circle Fund III | LGIM America | |||
| U.S. Credit Fund | ||||
| July 31, 2022 (Unaudited) | ||||
| SCHEDULE OF INVESTMENTS
CORPORATE OBLIGATIONS (continued) |
| Face Amount |
Value | |||||||
| ENERGY (continued) |
||||||||
| Sabal Trail Transmission |
||||||||
| 4.246%, 05/01/2028 (A) |
$ | 90,000 | $ | 89,398 | ||||
| Saudi Arabian Oil |
||||||||
| 1.250%, 11/24/2023 (A) |
20,000 | 19,398 | ||||||
| Spectra Energy Partners |
||||||||
| 3.375%, 10/15/2026 |
40,000 | 38,954 | ||||||
| Tennessee Gas Pipeline |
||||||||
| 7.000%, 10/15/2028 |
30,000 | 33,254 | ||||||
| Texas Eastern Transmission |
||||||||
| 4.150%, 01/15/2048 (A) |
10,000 | 8,655 | ||||||
| TotalEnergies Capital International |
||||||||
| 3.461%, 07/12/2049 |
35,000 | 29,869 | ||||||
| 3.127%, 05/29/2050 |
50,000 | 40,387 | ||||||
| 2.986%, 06/29/2041 |
30,000 | 24,962 | ||||||
| Valero Energy |
||||||||
| 2.850%, 04/15/2025 |
10,000 | 9,747 | ||||||
| Williams |
||||||||
| 5.800%, 11/15/2043 |
30,000 | 30,939 | ||||||
| 2.600%, 03/15/2031 |
30,000 | 26,048 | ||||||
|
|
|
| ||||||
| 1,362,385 | ||||||||
|
|
|
| ||||||
| FINANCIALS — 30.9% |
||||||||
| American International Group |
||||||||
| 4.750%, 04/01/2048 |
20,000 | 19,586 | ||||||
| 4.375%, 06/30/2050 |
50,000 | 47,180 | ||||||
| ANZ New Zealand Int’l |
||||||||
| 1.250%, 06/22/2026 (A) |
100,000 | 90,769 | ||||||
| ASB Bank |
||||||||
| 1.625%, 10/22/2026 (A) |
70,000 | 63,731 | ||||||
| BAE Systems Holdings |
||||||||
| 3.850%, 12/15/2025 (A) |
10,000 | 9,882 | ||||||
| Banco Bilbao Vizcaya Argentaria |
||||||||
| 1.125%, 09/18/2025 |
70,000 | 64,457 | ||||||
| Banco Santander |
||||||||
| 2.746%, 05/28/2025 |
70,000 | 66,814 | ||||||
| 2.706%, 06/27/2024 |
120,000 | 117,581 | ||||||
| Bank of America |
||||||||
| 4.948%, U.S. SOFR + 2.040%, 07/22/2028 |
370,000 | 380,561 | ||||||
| 3.311%, U.S. SOFR + 1.580%, 04/22/2042 |
35,000 | 28,890 | ||||||
| 2.972%, U.S. SOFR + 1.330%, 02/04/2033 |
20,000 | 17,670 | ||||||
| 2.687%, U.S. SOFR + 1.320%, 04/22/2032 |
5,000 | 4,348 | ||||||
| 2.572%, U.S. SOFR + 1.210%, 10/20/2032 |
50,000 | 42,824 | ||||||
| Bank of America MTN |
||||||||
| 4.330%, ICE LIBOR USD 3 Month + 1.520%, 03/15/2050 |
10,000 | 9,533 | ||||||
| 4.183%, 11/25/2027 |
90,000 | 89,784 | ||||||
| The Advisors’ Inner Circle Fund III | LGIM America | |||
| U.S. Credit Fund | ||||
| July 31, 2022 (Unaudited) | ||||
| SCHEDULE OF INVESTMENTS
CORPORATE OBLIGATIONS (continued) |
| Face Amount |
Value | |||||||
| FINANCIALS (continued) |
||||||||
| 3.458%, ICE LIBOR USD 3 Month + 0.970%, 03/15/2025 |
$ | 300,000 | $ | 296,435 | ||||
| 2.676%, U.S. SOFR + 1.930%, 06/19/2041 |
130,000 | 98,413 | ||||||
| Bank of Montreal MTN |
||||||||
| 3.300%, 02/05/2024 |
80,000 | 79,887 | ||||||
| Bank of New York Mellon MTN |
||||||||
| 3.450%, 08/11/2023 |
120,000 | 120,232 | ||||||
| Barclays |
||||||||
| 3.932%, ICE LIBOR USD 3 Month + 1.610%, 05/07/2025 |
80,000 | 78,755 | ||||||
| Berkshire Hathaway Finance |
||||||||
| 3.850%, 03/15/2052 |
35,000 | 31,704 | ||||||
| Blackstone Holdings Finance |
||||||||
| 2.000%, 01/30/2032 (A) |
30,000 | 24,725 | ||||||
| BNP Paribas |
||||||||
| 2.219%, U.S. SOFR + 2.074%, 06/09/2026 (A) |
60,000 | 56,095 | ||||||
| 1.323%, U.S. SOFR + 1.004%, 01/13/2027 (A) |
100,000 | 89,217 | ||||||
| BPCE |
||||||||
| 1.652%, U.S. SOFR + 1.520%, 10/06/2026 (A) |
50,000 | 45,190 | ||||||
| CI Financial |
||||||||
| 4.100%, 06/15/2051 |
50,000 | 34,640 | ||||||
| Citigroup |
||||||||
| 5.500%, 09/13/2025 |
50,000 | 52,158 | ||||||
| 4.300%, 11/20/2026 |
10,000 | 10,123 | ||||||
| 3.887%, ICE LIBOR USD 3 Month + 1.563%, 01/10/2028 |
10,000 | 9,805 | ||||||
| 3.200%, 10/21/2026 |
20,000 | 19,554 | ||||||
| 2.976%, U.S. SOFR + 1.422%, 11/05/2030 |
10,000 | 9,029 | ||||||
| 2.904%, U.S. SOFR + 1.379%, 11/03/2042 |
30,000 | 23,107 | ||||||
| 2.561%, U.S. SOFR + 1.167%, 05/01/2032 |
60,000 | 51,540 | ||||||
| CNO Global Funding |
||||||||
| 1.750%, 10/07/2026 (A) |
60,000 | 53,946 | ||||||
| Corebridge Financial |
||||||||
| 3.900%, 04/05/2032 (A) |
40,000 | 37,222 | ||||||
| 3.850%, 04/05/2029 (A) |
75,000 | 71,148 | ||||||
| 3.500%, 04/04/2025 (A) |
65,000 | 63,607 | ||||||
| Credit Agricole |
||||||||
| 1.247%, U.S. SOFR + 0.892%, 01/26/2027 (A) |
70,000 | 62,428 | ||||||
| Credit Suisse Group |
||||||||
| 2.193%, U.S. SOFR + 2.044%, 06/05/2026 (A) |
100,000 | 91,079 | ||||||
| Credit Suisse NY |
||||||||
| 3.700%, 02/21/2025 |
105,000 | 103,602 | ||||||
| Deutsche Bank NY |
||||||||
| 3.035%, U.S. SOFR + 1.718%, 05/28/2032 |
30,000 | 24,591 | ||||||
| 0.962%, 11/08/2023 |
70,000 | 67,446 | ||||||
| 0.898%, 05/28/2024 |
90,000 | 84,902 | ||||||
| Discover Bank |
||||||||
| 3.350%, 02/06/2023 |
50,000 | 49,920 | ||||||
| The Advisors’ Inner Circle Fund III | LGIM America | |||
| U.S. Credit Fund | ||||
| July 31, 2022 (Unaudited) | ||||
| SCHEDULE OF INVESTMENTS
CORPORATE OBLIGATIONS (continued) |
| Face Amount |
Value | |||||||
| FINANCIALS (continued) |
||||||||
| Equitable Financial Life Global Funding MTN |
||||||||
| 1.300%, 07/12/2026 (A) |
$ | 25,000 | $ | 22,548 | ||||
| Federation des Caisses Desjardins du Quebec |
||||||||
| 0.700%, 05/21/2024 (A) |
110,000 | 103,812 | ||||||
| First American Financial |
||||||||
| 2.400%, 08/15/2031 |
80,000 | 63,210 | ||||||
| GA Global Funding Trust |
||||||||
| 3.850%, 04/11/2025 (A) |
90,000 | 88,294 | ||||||
| 1.950%, 09/15/2028 (A) |
90,000 | 78,240 | ||||||
| 1.000%, 04/08/2024 (A) |
100,000 | 94,568 | ||||||
| Goldman Sachs Group |
||||||||
| 4.411%, ICE LIBOR USD 3 Month + 1.430%, 04/23/2039 |
20,000 | 19,046 | ||||||
| 3.800%, 03/15/2030 |
10,000 | 9,638 | ||||||
| 3.500%, 01/23/2025 |
50,000 | 49,959 | ||||||
| 3.436%, U.S. SOFR + 1.632%, 02/24/2043 |
40,000 | 33,455 | ||||||
| 3.210%, U.S. SOFR + 1.513%, 04/22/2042 |
65,000 | 52,459 | ||||||
| 2.640%, U.S. SOFR + 1.114%, 02/24/2028 |
70,000 | 65,182 | ||||||
| 2.600%, 02/07/2030 |
10,000 | 8,848 | ||||||
| 1.992%, U.S. SOFR + 1.090%, 01/27/2032 |
30,000 | 24,717 | ||||||
| 1.948%, U.S. SOFR + 0.913%, 10/21/2027 |
100,000 | 91,136 | ||||||
| 1.431%, U.S. SOFR + 0.798%, 03/09/2027 |
150,000 | 135,589 | ||||||
| Goldman Sachs Group MTN |
||||||||
| 3.850%, 07/08/2024 |
40,000 | 40,230 | ||||||
| Guardian Life Global Funding |
||||||||
| 1.400%, 07/06/2027 (A) |
20,000 | 17,878 | ||||||
| Huntington Bancshares |
||||||||
| 4.000%, 05/15/2025 |
40,000 | 40,304 | ||||||
| ING Groep |
||||||||
| 4.625%, 01/06/2026 (A) |
50,000 | 50,623 | ||||||
| 4.252%, U.S. SOFR + 2.070%, 03/28/2033 |
5,000 | 4,772 | ||||||
| 3.869%, U.S. SOFR + 1.640%, 03/28/2026 |
85,000 | 83,824 | ||||||
| 3.550%, 04/09/2024 |
70,000 | 69,670 | ||||||
| Intercontinental Exchange |
||||||||
| 1.850%, 09/15/2032 |
50,000 | 41,282 | ||||||
| JBS USA Food |
||||||||
| 2.500%, 01/15/2027 (A) |
70,000 | 62,300 | ||||||
| JPMorgan Chase |
||||||||
| 4.565%, U.S. SOFR + 1.750%, 06/14/2030 |
90,000 | 90,652 | ||||||
| 4.250%, 10/01/2027 |
30,000 | 30,535 | ||||||
| 3.897%, ICE LIBOR USD 3 Month + 1.220%, 01/23/2049 |
60,000 | 52,687 | ||||||
| 3.875%, 09/10/2024 |
10,000 | 10,061 | ||||||
| 3.375%, 05/01/2023 |
20,000 | 20,039 | ||||||
| 3.328%, U.S. SOFR + 1.580%, 04/22/2052 |
60,000 | 47,846 | ||||||
| 3.220%, ICE LIBOR USD 3 Month + 1.155%, 03/01/2025 |
50,000 | 49,489 | ||||||
| 2.069%, U.S. SOFR + 1.015%, 06/01/2029 |
80,000 | 70,626 | ||||||
| The Advisors’ Inner Circle Fund III | LGIM America | |||
| U.S. Credit Fund | ||||
| July 31, 2022 (Unaudited) | ||||
| SCHEDULE OF INVESTMENTS
CORPORATE OBLIGATIONS (continued) |
| Face Amount |
Value | |||||||
| FINANCIALS (continued) |
||||||||
| 1.953%, U.S. SOFR + 1.065%, 02/04/2032 |
$ | 40,000 | $ | 33,271 | ||||
| Morgan Stanley |
||||||||
| 4.210%, U.S. SOFR + 1.610%, 04/20/2028 |
80,000 | 79,951 | ||||||
| 3.217%, U.S. SOFR + 1.485%, 04/22/2042 |
85,000 | 70,520 | ||||||
| Morgan Stanley MTN |
||||||||
| 2.475%, U.S. SOFR + 1.000%, 01/21/2028 |
60,000 | 55,857 | ||||||
| 2.239%, U.S. SOFR + 1.178%, 07/21/2032 |
40,000 | 33,729 | ||||||
| 2.188%, U.S. SOFR + 1.990%, 04/28/2026 |
100,000 | 95,262 | ||||||
| Nationwide Building Society MTN |
||||||||
| 2.972%, U.S. SOFR + 1.290%, 02/16/2028 (A) |
80,000 | 73,978 | ||||||
| NatWest Group |
||||||||
| 2.359%, US Treas Yield Curve Rate T Note Const Mat 1 Yr + 2.150%, 05/22/2024 |
20,000 | 19,679 | ||||||
| New York Life Global Funding |
||||||||
| 1.850%, 08/01/2031 (A) |
40,000 | 33,567 | ||||||
| PNC Financial Services Group |
||||||||
| 2.600%, 07/23/2026 |
130,000 | 125,484 | ||||||
| Prudential Financial MTN |
||||||||
| 3.700%, 03/13/2051 |
10,000 | 8,631 | ||||||
| RGA Global Funding |
||||||||
| 2.700%, 01/18/2029 (A) |
65,000 | 58,809 | ||||||
| Royal Bank of Canada MTN |
||||||||
| 2.300%, 11/03/2031 |
30,000 | 25,826 | ||||||
| S&P Global |
||||||||
| 2.900%, 03/01/2032 (A) |
110,000 | 102,090 | ||||||
| 2.450%, 03/01/2027 (A) |
40,000 | 38,223 | ||||||
| Sumitomo Mitsui Trust Bank |
||||||||
| 0.800%, 09/12/2023 (A) |
90,000 | 87,222 | ||||||
| SVB Financial Group |
||||||||
| 1.800%, 10/28/2026 |
90,000 | 81,622 | ||||||
| Truist Bank |
||||||||
| 3.200%, 04/01/2024 |
110,000 | 110,031 | ||||||
| 2.250%, 03/11/2030 |
10,000 | 8,594 | ||||||
| Truist Financial MTN |
||||||||
| 2.850%, 10/26/2024 |
40,000 | 39,653 | ||||||
| UBS Group |
||||||||
| 4.488%, US Treas Yield Curve Rate T Note Const Mat 1 Yr + 1.550%, 05/12/2026 (A) |
45,000 | 45,253 | ||||||
| 4.125%, 09/24/2025 (A) |
20,000 | 20,087 | ||||||
| US Bancorp |
||||||||
| 2.491%, US Treas Yield Curve Rate T Note Const Mat 5 Yr + 0.950%, 11/03/2036 |
60,000 | 50,693 | ||||||
| Wells Fargo MTN |
||||||||
| 4.900%, 11/17/2045 |
30,000 | 29,086 | ||||||
| 4.897%, U.S. SOFR + 2.100%, 07/25/2033 |
20,000 | 20,707 | ||||||
| 4.650%, 11/04/2044 |
40,000 | 37,602 | ||||||
| 4.611%, U.S. SOFR + 2.130%, 04/25/2053 |
110,000 | 107,669 | ||||||
| 4.400%, 06/14/2046 |
30,000 | 27,181 | ||||||
| The Advisors’ Inner Circle Fund III | LGIM America | |||
| U.S. Credit Fund | ||||
| July 31, 2022 (Unaudited) | ||||
| SCHEDULE OF INVESTMENTS
CORPORATE OBLIGATIONS (continued) |
| Face Amount |
Value | |||||||
| FINANCIALS (continued) |
||||||||
| 3.196%, ICE LIBOR USD 3 Month + 1.170%, 06/17/2027 |
$ | 80,000 | $ | 76,936 | ||||
| 2.572%, U.S. SOFR + 1.262%, 02/11/2031 |
60,000 | 52,904 | ||||||
| 2.393%, U.S. SOFR + 2.100%, 06/02/2028 |
120,000 | 110,110 | ||||||
| Westpac Banking |
||||||||
| 3.020%, US Treas Yield Curve Rate T Note Const Mat 5 Yr + 1.530%, 11/18/2036 |
20,000 | 16,480 | ||||||
| 1.953%, 11/20/2028 |
110,000 | 98,726 | ||||||
|
|
|
| ||||||
| 6,493,062 | ||||||||
|
|
|
| ||||||
| HEALTH CARE — 9.0% |
||||||||
| Abbott Laboratories |
||||||||
| 4.900%, 11/30/2046 |
10,000 | 11,062 | ||||||
| AbbVie |
||||||||
| 4.850%, 06/15/2044 |
20,000 | 20,262 | ||||||
| 4.550%, 03/15/2035 |
10,000 | 10,203 | ||||||
| 4.250%, 11/21/2049 |
70,000 | 65,704 | ||||||
| 4.050%, 11/21/2039 |
50,000 | 47,061 | ||||||
| 2.950%, 11/21/2026 |
170,000 | 165,820 | ||||||
| Aetna |
||||||||
| 2.750%, 11/15/2022 |
40,000 | 39,989 | ||||||
| Amgen |
||||||||
| 4.200%, 02/22/2052 |
10,000 | 9,304 | ||||||
| 3.350%, 02/22/2032 |
15,000 | 14,354 | ||||||
| AstraZeneca |
||||||||
| 3.375%, 11/16/2025 |
30,000 | 30,087 | ||||||
| Astrazeneca Finance |
||||||||
| 1.750%, 05/28/2028 |
90,000 | 82,519 | ||||||
| 1.200%, 05/28/2026 |
70,000 | 64,744 | ||||||
| Boston Scientific |
||||||||
| 3.450%, 03/01/2024 |
31,000 | 31,028 | ||||||
| Bristol-Myers Squibb |
||||||||
| 4.550%, 02/20/2048 |
24,000 | 24,601 | ||||||
| 3.700%, 03/15/2052 |
35,000 | 31,767 | ||||||
| 2.550%, 11/13/2050 |
40,000 | 29,674 | ||||||
| Cigna |
||||||||
| 3.200%, 03/15/2040 |
10,000 | 8,385 | ||||||
| CVS Health |
||||||||
| 3.000%, 08/15/2026 |
40,000 | 39,170 | ||||||
| 1.750%, 08/21/2030 |
60,000 | 50,358 | ||||||
| Elevance Health |
||||||||
| 3.650%, 12/01/2027 |
70,000 | 70,245 | ||||||
| Gilead Sciences |
||||||||
| 4.000%, 09/01/2036 |
30,000 | 29,312 | ||||||
| GSK Consumer Healthcare Capital US |
||||||||
| 3.625%, 03/24/2032 (A) |
35,000 | 33,926 | ||||||
| 3.024%, 03/24/2024 (A) |
125,000 | 123,522 | ||||||
| The Advisors’ Inner Circle Fund III | LGIM America | |||
| U.S. Credit Fund | ||||
| July 31, 2022 (Unaudited) | ||||
| SCHEDULE OF INVESTMENTS
CORPORATE OBLIGATIONS (continued) |
| Face Amount |
Value | |||||||
| HEALTH CARE (continued) |
||||||||
| HCA |
||||||||
| 5.250%, 06/15/2049 |
$ | 15,000 | $ | 14,057 | ||||
| 5.125%, 06/15/2039 |
5,000 | 4,761 | ||||||
| 3.625%, 03/15/2032 (A) |
120,000 | 108,947 | ||||||
| Kaiser Foundation Hospitals |
||||||||
| 4.150%, 05/01/2047 |
30,000 | 28,711 | ||||||
| Northwell Healthcare |
||||||||
| 4.260%, 11/01/2047 |
10,000 | 9,045 | ||||||
| PerkinElmer |
||||||||
| 0.850%, 09/15/2024 |
70,000 | 65,661 | ||||||
| Smith & Nephew |
||||||||
| 2.032%, 10/14/2030 |
40,000 | 33,006 | ||||||
| Thermo Fisher Scientific |
||||||||
| 2.000%, 10/15/2031 |
17,000 | 15,107 | ||||||
| 1.750%, 10/15/2028 |
20,000 | 18,308 | ||||||
| 1.215%, 10/18/2024 |
220,000 | 210,340 | ||||||
| UnitedHealth Group |
||||||||
| 4.200%, 05/15/2032 |
125,000 | 130,121 | ||||||
| 3.700%, 12/15/2025 |
30,000 | 30,504 | ||||||
| 3.500%, 06/15/2023 |
20,000 | 20,110 | ||||||
| 3.500%, 02/15/2024 |
70,000 | 70,508 | ||||||
| 3.250%, 05/15/2051 |
15,000 | 12,588 | ||||||
| 2.300%, 05/15/2031 |
85,000 | 77,049 | ||||||
|
|
|
| ||||||
| 1,881,920 | ||||||||
|
|
|
| ||||||
| INDUSTRIALS — 8.6% |
||||||||
| AerCap Ireland Capital DAC |
||||||||
| 3.300%, 01/30/2032 |
35,000 | 29,353 | ||||||
| 3.000%, 10/29/2028 |
60,000 | 52,455 | ||||||
| 2.450%, 10/29/2026 |
40,000 | 35,692 | ||||||
| 1.650%, 10/29/2024 |
110,000 | 102,289 | ||||||
| 1.150%, 10/29/2023 |
120,000 | 115,234 | ||||||
| Boeing |
||||||||
| 5.805%, 05/01/2050 |
130,000 | 129,000 | ||||||
| 5.150%, 05/01/2030 |
60,000 | 60,527 | ||||||
| 5.040%, 05/01/2027 |
190,000 | 193,806 | ||||||
| 3.250%, 02/01/2028 |
30,000 | 27,903 | ||||||
| 3.100%, 05/01/2026 |
60,000 | 57,789 | ||||||
| 2.196%, 02/04/2026 |
110,000 | 102,438 | ||||||
| Burlington Northern Santa Fe |
||||||||
| 4.150%, 04/01/2045 |
60,000 | 57,950 | ||||||
| Canadian Pacific Railway |
||||||||
| 6.125%, 09/15/2115 |
30,000 | 33,365 | ||||||
| 3.100%, 12/02/2051 |
20,000 | 15,740 | ||||||
| Carrier Global |
||||||||
| 2.242%, 02/15/2025 |
7,000 | 6,754 | ||||||
| The Advisors’ Inner Circle Fund III | LGIM America | |||
| U.S. Credit Fund | ||||
| July 31, 2022 (Unaudited) | ||||
| SCHEDULE OF INVESTMENTS
CORPORATE OBLIGATIONS (continued) |
| Face Amount |
Value | |||||||
| INDUSTRIALS (continued) |
||||||||
| CSX |
||||||||
| 4.100%, 11/15/2032 |
$ | 100,000 | $ | 101,388 | ||||
| GE Capital International Funding Unlimited Co |
||||||||
| 4.418%, 11/15/2035 |
190,000 | 187,419 | ||||||
| General Dynamics |
||||||||
| 1.875%, 08/15/2023 |
20,000 | 19,754 | ||||||
| John Deere Capital MTN |
||||||||
| 2.650%, 06/24/2024 |
20,000 | 19,865 | ||||||
| 1.250%, 01/10/2025 |
115,000 | 110,198 | ||||||
| Northrop Grumman |
||||||||
| 2.930%, 01/15/2025 |
90,000 | 89,175 | ||||||
| Raytheon Technologies |
||||||||
| 4.450%, 11/16/2038 |
30,000 | 29,702 | ||||||
| 3.950%, 08/16/2025 |
70,000 | 71,356 | ||||||
| Siemens Financieringsmaatschappij |
||||||||
| 1.700%, 03/11/2028 (A) |
100,000 | 90,000 | ||||||
| Union Pacific |
||||||||
| 3.500%, 02/14/2053 |
20,000 | 17,248 | ||||||
| 3.375%, 02/14/2042 |
10,000 | 8,817 | ||||||
| Union Pacific MTN |
||||||||
| 3.550%, 08/15/2039 |
5,000 | 4,533 | ||||||
| United Airlines 2019-1 Class AA Pass Through Trust |
||||||||
| 4.150%, 08/25/2031 |
30,000 | 27,904 | ||||||
|
|
|
| ||||||
| 1,797,654 | ||||||||
|
|
|
| ||||||
| INFORMATION TECHNOLOGY — 5.1% |
||||||||
| Adobe |
||||||||
| 2.150%, 02/01/2027 |
110,000 | 105,881 | ||||||
| Analog Devices |
||||||||
| 1.700%, 10/01/2028 |
40,000 | 36,266 | ||||||
| Apple |
||||||||
| 3.250%, 02/23/2026 |
50,000 | 50,448 | ||||||
| 3.000%, 02/09/2024 |
90,000 | 90,036 | ||||||
| 2.650%, 02/08/2051 |
120,000 | 93,585 | ||||||
| 2.375%, 02/08/2041 |
80,000 | 64,472 | ||||||
| Broadcom |
||||||||
| 3.419%, 04/15/2033 (A) |
100,000 | 86,437 | ||||||
| 3.137%, 11/15/2035 (A) |
30,000 | 24,159 | ||||||
| 2.450%, 02/15/2031 (A) |
60,000 | 50,154 | ||||||
| Fidelity National Information Services |
||||||||
| 5.100%, 07/15/2032 |
90,000 | 93,656 | ||||||
| Fiserv |
||||||||
| 3.200%, 07/01/2026 |
20,000 | 19,470 | ||||||
| Mastercard |
||||||||
| 3.300%, 03/26/2027 |
30,000 | 30,219 | ||||||
| Microsoft |
||||||||
| 2.921%, 03/17/2052 |
70,000 | 58,925 | ||||||
| The Advisors’ Inner Circle Fund III | LGIM America | |||
| U.S. Credit Fund | ||||
| July 31, 2022 (Unaudited) | ||||
| SCHEDULE OF INVESTMENTS
CORPORATE OBLIGATIONS (continued) |
| Face Amount |
Value | |||||||
| INFORMATION TECHNOLOGY (continued) |
||||||||
| 2.875%, 02/06/2024 |
$ | 10,000 | $ | 10,006 | ||||
| 2.525%, 06/01/2050 |
20,000 | 15,551 | ||||||
| 2.400%, 08/08/2026 |
40,000 | 39,232 | ||||||
| Oracle |
||||||||
| 4.000%, 11/15/2047 |
5,000 | 3,852 | ||||||
| 3.950%, 03/25/2051 |
5,000 | 3,872 | ||||||
| 3.850%, 07/15/2036 |
70,000 | 59,031 | ||||||
| 3.650%, 03/25/2041 |
25,000 | 19,429 | ||||||
| 3.600%, 04/01/2050 |
5,000 | 3,638 | ||||||
| QUALCOMM |
||||||||
| 1.650%, 05/20/2032 |
20,000 | 17,006 | ||||||
| salesforce.com |
||||||||
| 2.900%, 07/15/2051 |
30,000 | 24,120 | ||||||
| Vontier |
||||||||
| 2.950%, 04/01/2031 |
90,000 | 71,119 | ||||||
|
|
|
| ||||||
| 1,070,564 | ||||||||
|
|
|
| ||||||
| MATERIALS — 2.2% |
||||||||
| Celanese US Holdings |
||||||||
| 6.165%, 07/15/2027 |
200,000 | 203,152 | ||||||
| Eagle Materials |
||||||||
| 2.500%, 07/01/2031 |
80,000 | 64,917 | ||||||
| Freeport-McMoRan |
||||||||
| 5.250%, 09/01/2029 |
67,000 | 66,054 | ||||||
| 4.625%, 08/01/2030 |
21,000 | 20,141 | ||||||
| 4.250%, 03/01/2030 |
10,000 | 9,381 | ||||||
| International Flavors & Fragrances |
||||||||
| 3.268%, 11/15/2040 (A) |
40,000 | 32,028 | ||||||
| Minera Mexico |
||||||||
| 4.500%, 01/26/2050 (A) |
30,000 | 23,681 | ||||||
| PPG Industries |
||||||||
| 1.200%, 03/15/2026 |
50,000 | 45,650 | ||||||
|
|
|
| ||||||
| 465,004 | ||||||||
|
|
|
| ||||||
| REAL ESTATE — 7.0% |
||||||||
| Agree |
||||||||
| 2.000%, 06/15/2028 |
80,000 | 69,575 | ||||||
| Alexandria Real Estate Equities |
||||||||
| 3.550%, 03/15/2052 |
50,000 | 39,811 | ||||||
| American Campus Communities Operating Partnership |
||||||||
| 3.750%, 04/15/2023 |
60,000 | 59,851 | ||||||
| Brixmor Operating Partnership |
||||||||
| 2.250%, 04/01/2028 |
40,000 | 34,901 | ||||||
| Duke Realty |
||||||||
| 2.250%, 01/15/2032 |
25,000 | 21,570 | ||||||
| The Advisors’ Inner Circle Fund III | LGIM America | |||
| U.S. Credit Fund | ||||
| July 31, 2022 (Unaudited) | ||||
| SCHEDULE OF INVESTMENTS
CORPORATE OBLIGATIONS (continued) |
| Face Amount |
Value | |||||||
| REAL ESTATE (continued) |
||||||||
| Equinix |
||||||||
| 2.625%, 11/18/2024 |
$ | 160,000 | $ | 155,072 | ||||
| Extra Space Storage |
||||||||
| 3.900%, 04/01/2029 |
80,000 | 76,724 | ||||||
| Invitation Homes Operating Partnership |
||||||||
| 2.300%, 11/15/2028 |
70,000 | 60,194 | ||||||
| Kimco Realty |
||||||||
| 3.125%, 06/01/2023 |
10,000 | 9,959 | ||||||
| Mid-America Apartments |
||||||||
| 1.100%, 09/15/2026 |
50,000 | 44,658 | ||||||
| Ontario Teachers’ Cadillac Fairview Properties Trust |
||||||||
| 2.500%, 10/15/2031 (A) |
80,000 | 70,140 | ||||||
| Piedmont Operating Partnership |
||||||||
| 2.750%, 04/01/2032 |
30,000 | 23,796 | ||||||
| Public Storage |
||||||||
| 1.950%, 11/09/2028 |
60,000 | 53,700 | ||||||
| Regency Centers |
||||||||
| 4.650%, 03/15/2049 |
25,000 | 22,977 | ||||||
| Rexford Industrial Realty |
||||||||
| 2.150%, 09/01/2031 |
20,000 | 16,393 | ||||||
| 2.125%, 12/01/2030 |
55,000 | 45,697 | ||||||
| Scentre Group Trust 1 |
||||||||
| 3.750%, 03/23/2027 (A) |
10,000 | 9,699 | ||||||
| 3.500%, 02/12/2025 (A) |
20,000 | 19,566 | ||||||
| 3.250%, 10/28/2025 (A) |
10,000 | 9,619 | ||||||
| Simon Property Group |
||||||||
| 1.750%, 02/01/2028 |
80,000 | 70,643 | ||||||
| Spirit Realty |
||||||||
| 3.200%, 02/15/2031 |
40,000 | 34,389 | ||||||
| 2.100%, 03/15/2028 |
40,000 | 34,285 | ||||||
| Sun Communities Operating |
||||||||
| 2.300%, 11/01/2028 |
210,000 | 183,654 | ||||||
| VICI Properties |
||||||||
| 4.950%, 02/15/2030 |
120,000 | 118,153 | ||||||
| 4.750%, 02/15/2028 |
95,000 | 93,356 | ||||||
| 4.625%, 12/01/2029 (A) |
70,000 | 66,757 | ||||||
| 4.375%, 05/15/2025 |
40,000 | 39,601 | ||||||
| 4.125%, 08/15/2030 (A) |
20,000 | 18,266 | ||||||
|
|
|
| ||||||
| 1,503,006 | ||||||||
|
|
|
| ||||||
| UTILITIES — 8.2% |
||||||||
| AES |
||||||||
| 3.300%, 07/15/2025 (A) |
30,000 | 28,619 | ||||||
| 2.450%, 01/15/2031 |
10,000 | 8,456 | ||||||
| Black Hills |
||||||||
| 4.350%, 05/01/2033 |
20,000 | 19,233 | ||||||
| The Advisors’ Inner Circle Fund III | LGIM America | |||
| U.S. Credit Fund | ||||
| July 31, 2022 (Unaudited) | ||||
| SCHEDULE OF INVESTMENTS
CORPORATE OBLIGATIONS (continued) |
| Face Amount |
Value | |||||||
| UTILITIES (continued) |
||||||||
| CenterPoint Energy Houston Electric |
||||||||
| 3.000%, 03/01/2032 |
$ | 25,000 | $ | 23,653 | ||||
| 2.900%, 07/01/2050 |
10,000 | 7,895 | ||||||
| Cleco Corporate Holdings |
||||||||
| 3.375%, 09/15/2029 |
30,000 | 27,267 | ||||||
| Commonwealth Edison |
||||||||
| 4.000%, 03/01/2049 |
20,000 | 18,699 | ||||||
| 3.200%, 11/15/2049 |
30,000 | 24,675 | ||||||
| 3.100%, 11/01/2024 |
20,000 | 19,923 | ||||||
| 3.000%, 03/01/2050 |
30,000 | 24,100 | ||||||
| Constellation Energy Generation |
||||||||
| 6.250%, 10/01/2039 |
40,000 | 42,697 | ||||||
| 5.750%, 10/01/2041 |
50,000 | 50,421 | ||||||
| 5.600%, 06/15/2042 |
20,000 | 19,882 | ||||||
| Consumers Energy |
||||||||
| 3.500%, 08/01/2051 |
10,000 | 8,787 | ||||||
| Dominion Energy |
||||||||
| 3.375%, 04/01/2030 |
40,000 | 38,000 | ||||||
| 1.450%, 04/15/2026 |
140,000 | 129,837 | ||||||
| Duke Energy Carolinas |
||||||||
| 2.850%, 03/15/2032 |
45,000 | 41,730 | ||||||
| Duke Energy Ohio |
||||||||
| 4.300%, 02/01/2049 |
50,000 | 47,350 | ||||||
| 2.125%, 06/01/2030 |
20,000 | 17,439 | ||||||
| Duke Energy Progress |
||||||||
| 4.100%, 05/15/2042 |
70,000 | 65,908 | ||||||
| East Ohio Gas |
||||||||
| 3.000%, 06/15/2050 (A) |
20,000 | 15,133 | ||||||
| Entergy |
||||||||
| 2.950%, 09/01/2026 |
50,000 | 48,069 | ||||||
| 2.400%, 06/15/2031 |
70,000 | 59,122 | ||||||
| Entergy Texas |
||||||||
| 3.550%, 09/30/2049 |
60,000 | 49,736 | ||||||
| Eversource Energy |
||||||||
| 2.900%, 10/01/2024 |
50,000 | 49,085 | ||||||
| Georgia Power |
||||||||
| 4.300%, 03/15/2043 |
60,000 | 54,642 | ||||||
| Indiana Michigan Power |
||||||||
| 4.250%, 08/15/2048 |
10,000 | 9,117 | ||||||
| Indianapolis Power & Light |
||||||||
| 4.050%, 05/01/2046 (A) |
30,000 | 27,553 | ||||||
| Jersey Central Power & Light |
||||||||
| 2.750%, 03/01/2032 (A) |
60,000 | 52,936 | ||||||
| MidAmerican Energy |
||||||||
| 3.150%, 04/15/2050 |
60,000 | 49,212 | ||||||
| NextEra Energy Capital Holdings |
||||||||
| 4.450%, 06/20/2025 |
155,000 | 159,109 | ||||||
| The Advisors’ Inner Circle Fund III | LGIM America | |||
| U.S. Credit Fund | ||||
| July 31, 2022 (Unaudited) | ||||
| SCHEDULE OF INVESTMENTS
CORPORATE OBLIGATIONS (continued) |
| Face Amount |
Value | |||||||
| UTILITIES (continued) |
||||||||
| Oglethorpe Power |
||||||||
| 5.375%, 11/01/2040 |
$ | 70,000 | $ | 71,579 | ||||
| 5.250%, 09/01/2050 |
50,000 | 48,356 | ||||||
| Oncor Electric Delivery |
||||||||
| 7.000%, 09/01/2022 |
80,000 | 80,193 | ||||||
| 3.750%, 04/01/2045 |
40,000 | 36,145 | ||||||
| 3.700%, 05/15/2050 |
10,000 | 9,044 | ||||||
| Pacific Gas and Electric |
||||||||
| 2.500%, 02/01/2031 |
30,000 | 23,975 | ||||||
| 2.100%, 08/01/2027 |
70,000 | 59,984 | ||||||
| Public Service of Colorado |
||||||||
| 3.200%, 03/01/2050 |
30,000 | 24,671 | ||||||
| Puget Energy |
||||||||
| 2.379%, 06/15/2028 |
60,000 | 53,900 | ||||||
| Sempra Energy |
||||||||
| 4.000%, 02/01/2048 |
10,000 | 8,780 | ||||||
| 3.800%, 02/01/2038 |
20,000 | 17,845 | ||||||
| Southern |
||||||||
| 1.750%, 03/15/2028 |
30,000 | 26,444 | ||||||
| Southern California Gas |
||||||||
| 4.300%, 01/15/2049 |
10,000 | 9,323 | ||||||
| Union Electric |
||||||||
| 4.000%, 04/01/2048 |
20,000 | 18,218 | ||||||
|
|
|
| ||||||
| 1,726,742 | ||||||||
|
|
|
| ||||||
| TOTAL CORPORATE OBLIGATIONS |
19,635,421 | |||||||
|
|
|
| ||||||
| U.S. TREASURY OBLIGATIONS — 4.3% | ||||||||
| U.S. Treasury Bond |
||||||||
| 3.250%, 05/15/2042 |
5,000 | 5,006 | ||||||
| 2.250%, 02/15/2052 |
1,050,000 | 884,789 | ||||||
|
|
|
| ||||||
| TOTAL U.S. TREASURY OBLIGATIONS |
889,795 | |||||||
|
|
|
| ||||||
| SOVEREIGN DEBT — 0.9% | ||||||||
| Chile Government International Bond |
||||||||
| 4.340%, 03/07/2042 |
5,000 | 4,603 | ||||||
| 4.000%, 01/31/2052 |
5,000 | 4,316 | ||||||
| The Advisors’ Inner Circle Fund III | LGIM America | |||
| U.S. Credit Fund | ||||
| July 31, 2022 (Unaudited) | ||||
| SCHEDULE OF INVESTMENTS
SOVEREIGN DEBT (continued) |
| Face Amount |
Value | |||||||
| Israel Government International Bond |
||||||||
| 3.875%, 07/03/2050 |
$ | 20,000 | $ | 18,480 | ||||
| Japan Bank for International Cooperation |
||||||||
| 1.750%, 01/23/2023 |
10,000 | 9,942 | ||||||
| Mexico Government International Bond |
||||||||
| 5.000%, 04/27/2051 |
15,000 | 13,110 | ||||||
| 4.500%, 01/31/2050 |
30,000 | 24,578 | ||||||
| Panama Government International Bond |
||||||||
| 4.500%, 04/16/2050 |
30,000 | 24,702 | ||||||
| 3.160%, 01/23/2030 |
60,000 | 54,314 | ||||||
| Perusahaan Penerbit SBSN Indonesia III |
||||||||
| 3.550%, 06/09/2051 (A) |
10,000 | 8,300 | ||||||
| Philippine Government International Bond |
||||||||
| 3.200%, 07/06/2046 |
30,000 | 23,940 | ||||||
| 2.950%, 05/05/2045 |
10,000 | 7,789 | ||||||
|
|
|
| ||||||
| TOTAL SOVEREIGN DEBT |
194,074 | |||||||
|
|
|
| ||||||
| MUNICIPAL BOND — 0.3% | ||||||||
| CALIFORNIA — 0.3% | ||||||||
| California State, GO |
||||||||
| 7.600%, 11/01/2040 |
50,000 | 69,877 | ||||||
|
|
|
| ||||||
| TOTAL MUNICIPAL BOND |
69,877 | |||||||
|
|
|
| ||||||
| TOTAL INVESTMENTS— 99.0% |
$ | 20,789,167 | ||||||
|
|
|
| ||||||
|
|
|
| ||||||
Percentages are based on Net Assets of $21,008,948.
| (A) | Security exempt from registration under Rule 144A of the Securities Act of 1933. These securities may be resold in transactions exempt from registration normally to qualified institutions. On July 31, 2022, the value of these securities amounted to $3,385,483, representing 16.1% of the Net Assets of the Fund. |
DAC — Designated Activity Company
GO — General Obligations
ICE — Intercontinental Exchange
LIBOR — London Interbank Offered Rate
MTN — Medium Term Note
REIT — Real Estate Investment Trust
SOFR — Secured Overnight Financing Rate
USD — U.S. Dollar
| The Advisors’ Inner Circle Fund III | LGIM America | |||
| U.S. Credit Fund | ||||
| July 31, 2022 (Unaudited) | ||||
As of July 31, 2022, all of the Fund’s investments were considered level 2, in accordance with ASC-820.
For information regarding the Fund’s policies regarding valuation of investments and other significant accounting policies, please refer to the Fund’s most recent semi-annual and annual financial statements.
| The Advisors’ Inner Circle Fund III | LGIM America | |||
| Retirement Income 2040 Fund | ||||
| July 31, 2022 (Unaudited) | ||||
| SCHEDULE OF INVESTMENTS
EXCHANGE TRADED FUNDS — 137.0% |
| Shares | Value | |||||||
| Legal & General Cash Flow Matched Bond Fund ,* |
1,589 | $ | 15,225 | |||||
| Legal & General Long Duration U.S. Credit Fund ,* |
2,084 | 17,120 | ||||||
| Legal & General MSCI World Index Fund ,* |
8,310 | 73,690 | ||||||
| Legal & General U.S. Credit Fund ,* |
1,608 | 14,105 | ||||||
|
|
|
| ||||||
| TOTAL EXCHANGE TRADED FUNDS |
120,140 | |||||||
|
|
|
| ||||||
| TOTAL INVESTMENTS— 137.0% |
$ | 120,140 | ||||||
|
|
|
| ||||||
|
|
|
| ||||||
Percentages are based on Net Assets of $87,720.
| * | Affiliated investment. |
The following is a summary of the transactions with affiliates for the period ended July 31, 2022:
| Value at 10/31/21 |
Purchases at Cost |
Proceeds from Sales |
Changes in Unrealized Appreciation (Depreciation) |
Realized Gain (Loss) |
Value at 07/31/22 |
Shares | Dividend Income |
|||||||||||||||||||||
| Legal & General Cash Flow Matched Bond Fund |
| |||||||||||||||||||||||||||
|
$ - |
$ | 24,310 | $ | (8,577 | ) | $ | (263 | ) | $ | (245 | ) | $ | 15,225 | 1,589 | $ | 101 | ||||||||||||
| Legal & General Long Duration U.S. Credit Fund |
| |||||||||||||||||||||||||||
| - |
28,685 | (8,648 | ) | (1,911 | ) | (1,006 | ) | 17,120 | 2,084 | 320 | ||||||||||||||||||
| Legal & General MSCI World Index Fund |
| |||||||||||||||||||||||||||
| - |
115,873 | (33,842 | ) | (5,887 | ) | (2,454 | ) | 73,690 | 8,310 | 748 | ||||||||||||||||||
| Legal & General U.S. Credit Fund |
| |||||||||||||||||||||||||||
| - |
29,191 | (13,086 | ) | (792 | ) | (1,208 | ) | 14,105 | 1,608 | 215 | ||||||||||||||||||
| Totals: |
||||||||||||||||||||||||||||
|
$ - |
$ | 198,059 | $ | (64,153 | ) | $ | (8,853 | ) | $ | (4,913 | ) | $ | 120,140 | 13,591 | $ | 1,384 | ||||||||||||
Amounts designated as “—” are $0 or have been rounded to $0.
As of July 31, 2022, all of the Fund’s investments were considered Level 1, in accordance with ASC-820.
For information regarding the Fund’s policies regarding valuation of investments and other significant accounting policies, please refer to the Fund’s most recent semi-annual and annual financial statements.
| The Advisors’ Inner Circle Fund III | LGIM America | |||
| Cash Flow Matched Bond Fund | ||||
| July 31, 2022 (Unaudited) | ||||
| SCHEDULE OF INVESTMENTS
CORPORATE OBLIGATIONS — 97.6% |
| Face Amount |
Value | |||||||
| COMMUNICATION SERVICES — 7.6% |
||||||||
| Comcast |
||||||||
| 3.950%, 10/15/2025 |
$ | 100,000 | $ | 101,732 | ||||
| Magallanes |
||||||||
| 3.755%, 03/15/2027 (A) |
100,000 | 96,127 | ||||||
| NTT Finance |
||||||||
| 1.162%, 04/03/2026 (A) |
200,000 | 182,950 | ||||||
| Paramount Global |
||||||||
| 4.750%, 05/15/2025 |
167,000 | 170,009 | ||||||
| Sky |
||||||||
| 3.750%, 09/16/2024 (A) |
200,000 | 200,544 | ||||||
| Verizon Communications |
||||||||
| 0.850%, 11/20/2025 |
400,000 | 368,740 | ||||||
| 0.750%, 03/22/2024 |
500,000 | 481,039 | ||||||
| Walt Disney |
||||||||
| 1.750%, 08/30/2024 |
250,000 | 242,979 | ||||||
|
|
|
| ||||||
| 1,844,120 | ||||||||
|
|
|
| ||||||
| CONSUMER DISCRETIONARY — 6.3% |
||||||||
| Amazon.com |
||||||||
| 0.800%, 06/03/2025 |
200,000 | 188,478 | ||||||
| BMW US Capital |
||||||||
| 0.750%, 08/12/2024 (A) |
125,000 | 118,597 | ||||||
| General Motors |
||||||||
| 4.000%, 04/01/2025 |
250,000 | 249,139 | ||||||
| Honda Motor |
||||||||
| 2.534%, 03/10/2027 |
100,000 | 95,816 | ||||||
| Lowe’s |
||||||||
| 2.500%, 04/15/2026 |
300,000 | 290,651 | ||||||
| McDonald’s MTN |
||||||||
| 1.450%, 09/01/2025 |
200,000 | 189,568 | ||||||
| Target |
||||||||
| 1.950%, 01/15/2027 |
200,000 | 190,666 | ||||||
| Volkswagen Group of America Finance |
||||||||
| 2.700%, 09/26/2022 (A) |
200,000 | 199,804 | ||||||
|
|
|
| ||||||
| 1,522,719 | ||||||||
|
|
|
| ||||||
| CONSUMER STAPLES — 8.2% |
||||||||
| Altria Group |
||||||||
| 2.350%, 05/06/2025 |
100,000 | 96,321 | ||||||
| Cargill |
||||||||
| 3.625%, 04/22/2027 (A) |
100,000 | 100,347 | ||||||
| 0.400%, 02/02/2024 (A) |
100,000 | 95,766 | ||||||
| Diageo Capital |
||||||||
| 1.375%, 09/29/2025 |
200,000 | 188,521 | ||||||
| The Advisors’ Inner Circle Fund III | LGIM America | |||
| Cash Flow Matched Bond Fund | ||||
| July 31, 2022 (Unaudited) | ||||
| SCHEDULE OF INVESTMENTS
CORPORATE OBLIGATIONS (continued) |
| Face Amount |
Value | |||||||
| CONSUMER STAPLES (continued) |
||||||||
| Hormel Foods |
||||||||
| 0.650%, 06/03/2024 |
$ | 100,000 | $ | 95,676 | ||||
| Mars |
||||||||
| 0.875%, 07/16/2026 (A) |
200,000 | 180,845 | ||||||
| McCormick |
||||||||
| 3.150%, 08/15/2024 |
150,000 | 148,624 | ||||||
| PepsiCo |
||||||||
| 2.375%, 10/06/2026 |
150,000 | 146,471 | ||||||
| Procter & Gamble |
||||||||
| 2.450%, 11/03/2026 |
200,000 | 195,965 | ||||||
| Walmart |
||||||||
| 2.850%, 07/08/2024 |
250,000 | 249,367 | ||||||
| 2.350%, 12/15/2022 |
475,000 | 474,335 | ||||||
|
|
|
| ||||||
| 1,972,238 | ||||||||
|
|
|
| ||||||
| ENERGY — 4.3% |
||||||||
| BP Capital Markets |
||||||||
| 2.500%, 11/06/2022 |
250,000 | 249,626 | ||||||
| Chevron |
||||||||
| 1.141%, 05/11/2023 |
100,000 | 98,493 | ||||||
| ConocoPhillips |
||||||||
| 3.350%, 11/15/2024 |
250,000 | 250,183 | ||||||
| Kinder Morgan |
||||||||
| 4.300%, 06/01/2025 |
150,000 | 151,475 | ||||||
| Shell International Finance BV |
||||||||
| 3.500%, 11/13/2023 |
285,000 | 286,587 | ||||||
|
|
|
| ||||||
| 1,036,364 | ||||||||
|
|
|
| ||||||
| FINANCIALS — 30.5% |
||||||||
| Aflac |
||||||||
| 2.875%, 10/15/2026 |
150,000 | 147,009 | ||||||
| 1.125%, 03/15/2026 |
100,000 | 91,739 | ||||||
| Allstate |
||||||||
| 0.750%, 12/15/2025 |
225,000 | 204,965 | ||||||
| American Express |
||||||||
| 3.000%, 10/30/2024 |
100,000 | 99,062 | ||||||
| Bank of America |
||||||||
| 3.004%, ICE LIBOR USD 3 Month + 0.790%, 12/20/2023 |
300,000 | 299,244 | ||||||
| Bank of America MTN |
||||||||
| 3.559%, ICE LIBOR USD 3 Month + 1.060%, 04/23/2027 |
100,000 | 97,571 | ||||||
| Bank of Montreal MTN |
||||||||
| 2.650%, 03/08/2027 |
125,000 | 118,926 | ||||||
| The Advisors’ Inner Circle Fund III | LGIM America | |||
| Cash Flow Matched Bond Fund | ||||
| July 31, 2022 (Unaudited) | ||||
| SCHEDULE OF INVESTMENTS
CORPORATE OBLIGATIONS (continued) |
| Face Amount |
Value | |||||||
| FINANCIALS (continued) |
||||||||
| Bank of Nova Scotia |
||||||||
| 0.400%, 09/15/2023 |
$ | 200,000 | $ | 193,727 | ||||
| Berkshire Hathaway Finance |
||||||||
| 2.300%, 03/15/2027 |
150,000 | 145,798 | ||||||
| Charles Schwab |
||||||||
| 3.850%, 05/21/2025 |
125,000 | 127,169 | ||||||
| Citibank |
||||||||
| 3.650%, 01/23/2024 |
200,000 | 201,110 | ||||||
| Citigroup |
||||||||
| 3.200%, 10/21/2026 |
250,000 | 244,427 | ||||||
| Corebridge Financial |
||||||||
| 3.650%, 04/05/2027 (A) |
175,000 | 168,495 | ||||||
| European Investment Bank |
||||||||
| 0.375%, 07/24/2024 |
250,000 | 237,655 | ||||||
| European Investment Bank MTN |
||||||||
| 3.125%, 12/14/2023 |
200,000 | 200,350 | ||||||
| GA Global Funding Trust |
||||||||
| 0.800%, 09/13/2024 (A) |
250,000 | 231,986 | ||||||
| Goldman Sachs Group |
||||||||
| 3.625%, 02/20/2024 |
275,000 | 275,555 | ||||||
| Inter-American Development Bank MTN |
||||||||
| 0.875%, 04/03/2025 |
300,000 | 284,324 | ||||||
| International Bank for Reconstruction & Development |
||||||||
| 0.250%, 11/24/2023 |
350,000 | 337,691 | ||||||
| Jackson Financial |
||||||||
| 1.125%, 11/22/2023 (A) |
250,000 | 240,821 | ||||||
| JPMorgan Chase |
||||||||
| 3.625%, 05/13/2024 |
200,000 | 201,852 | ||||||
| 1.561%, U.S. SOFR + 0.605%, 12/10/2025 |
450,000 | 423,451 | ||||||
| Kreditanstalt fuer Wiederaufbau |
||||||||
| 2.000%, 10/04/2022 |
200,000 | 199,818 | ||||||
| 0.375%, 07/18/2025 |
350,000 | 324,761 | ||||||
| MassMutual Global Funding II MTN |
||||||||
| 0.850%, 06/09/2023 (A) |
200,000 | 195,704 | ||||||
| MetLife |
||||||||
| 4.368%, 09/15/2023 |
100,000 | 101,249 | ||||||
| Metropolitan Life Global Funding I MTN |
||||||||
| 0.700%, 09/27/2024 (A) |
220,000 | 206,453 | ||||||
| Morgan Stanley MTN |
||||||||
| 3.875%, 04/29/2024 |
200,000 | 201,590 | ||||||
| 2.720%, U.S. SOFR + 1.152%, 07/22/2025 |
200,000 | 194,914 | ||||||
| New York Life Global Funding |
||||||||
| 2.350%, 07/14/2026 (A) |
200,000 | 191,420 | ||||||
| Northwestern Mutual Global Funding |
||||||||
| 1.750%, 01/11/2027 (A) |
100,000 | 92,460 | ||||||
| Royal Bank of Canada MTN |
||||||||
| 1.400%, 11/02/2026 |
100,000 | 90,768 | ||||||
| The Advisors’ Inner Circle Fund III | LGIM America | |||
| Cash Flow Matched Bond Fund | ||||
| July 31, 2022 (Unaudited) | ||||
| SCHEDULE OF INVESTMENTS
CORPORATE OBLIGATIONS (continued) |
| Face Amount |
Value | |||||||
| FINANCIALS (continued) |
||||||||
| S&P Global |
||||||||
| 2.450%, 03/01/2027 (A) |
$ | 200,000 | $ | 191,117 | ||||
| Toronto-Dominion Bank MTN |
||||||||
| 2.800%, 03/10/2027 |
200,000 | 191,493 | ||||||
| 1.950%, 01/12/2027 |
150,000 | 139,325 | ||||||
| US Bancorp |
||||||||
| 1.450%, 05/12/2025 |
100,000 | 95,548 | ||||||
| Wells Fargo MTN |
||||||||
| 3.550%, 09/29/2025 |
100,000 | 99,715 | ||||||
| 3.196%, ICE LIBOR USD 3 Month + 1.170%, 06/17/2027 |
250,000 | 240,425 | ||||||
|
|
|
| ||||||
| 7,329,687 | ||||||||
|
|
|
| ||||||
| HEALTH CARE — 13.9% |
||||||||
| Abbott Laboratories |
||||||||
| 3.750%, 11/30/2026 |
100,000 | 103,244 | ||||||
| AbbVie |
||||||||
| 2.300%, 11/21/2022 |
600,000 | 598,886 | ||||||
| Astrazeneca Finance |
||||||||
| 0.700%, 05/28/2024 |
100,000 | 95,386 | ||||||
| Bristol-Myers Squibb |
||||||||
| 0.750%, 11/13/2025 |
155,000 | 143,816 | ||||||
| Cigna |
||||||||
| 4.125%, 11/15/2025 |
100,000 | 101,527 | ||||||
| CVS Health |
||||||||
| 4.750%, 12/01/2022 |
600,000 | 600,757 | ||||||
| DH Europe Finance II Sarl |
||||||||
| 2.050%, 11/15/2022 |
500,000 | 498,225 | ||||||
| Elevance Health |
||||||||
| 2.375%, 01/15/2025 |
100,000 | 97,479 | ||||||
| 0.450%, 03/15/2023 |
225,000 | 222,214 | ||||||
| Gilead Sciences |
||||||||
| 0.750%, 09/29/2023 |
150,000 | 145,742 | ||||||
| Johnson & Johnson |
||||||||
| 0.550%, 09/01/2025 |
150,000 | 140,408 | ||||||
| Novartis Capital |
||||||||
| 2.400%, 09/21/2022 |
200,000 | 199,955 | ||||||
| Pfizer |
||||||||
| 3.400%, 05/15/2024 |
150,000 | 151,242 | ||||||
| UnitedHealth Group |
||||||||
| 3.700%, 12/15/2025 |
250,000 | 254,198 | ||||||
|
|
|
| ||||||
| 3,353,079 | ||||||||
|
|
|
| ||||||
| The Advisors’ Inner Circle Fund III | LGIM America | |||
| Cash Flow Matched Bond Fund | ||||
| July 31, 2022 (Unaudited) | ||||
| SCHEDULE OF INVESTMENTS
CORPORATE OBLIGATIONS (continued) |
| Face Amount |
Value | |||||||
| INDUSTRIALS — 7.3% |
||||||||
| Burlington Northern Santa Fe |
||||||||
| 3.650%, 09/01/2025 |
$ | 300,000 | $ | 304,183 | ||||
| Canadian Pacific Railway |
||||||||
| 1.750%, 12/02/2026 |
325,000 | 302,149 | ||||||
| Caterpillar Financial Services MTN |
||||||||
| 2.150%, 11/08/2024 |
175,000 | 171,813 | ||||||
| John Deere Capital MTN |
||||||||
| 2.650%, 06/24/2024 |
270,000 | 268,176 | ||||||
| Northrop Grumman |
||||||||
| 3.250%, 08/01/2023 |
250,000 | 249,778 | ||||||
| Raytheon Technologies |
||||||||
| 2.650%, 11/01/2026 |
300,000 | 291,764 | ||||||
| Waste Management |
||||||||
| 0.750%, 11/15/2025 |
200,000 | 183,912 | ||||||
|
|
|
| ||||||
| 1,771,775 | ||||||||
|
|
|
| ||||||
| INFORMATION TECHNOLOGY — 6.5% |
||||||||
| Apple |
||||||||
| 2.450%, 08/04/2026 |
170,000 | 166,695 | ||||||
| 2.400%, 05/03/2023 |
200,000 | 198,951 | ||||||
| Mastercard |
||||||||
| 2.950%, 11/21/2026 |
100,000 | 99,219 | ||||||
| Microsoft |
||||||||
| 2.400%, 08/08/2026 |
500,000 | 490,405 | ||||||
| PayPal Holdings |
||||||||
| 2.650%, 10/01/2026 |
100,000 | 97,435 | ||||||
| Salesforce |
||||||||
| 0.625%, 07/15/2024 |
250,000 | 238,674 | ||||||
| Texas Instruments |
||||||||
| 1.125%, 09/15/2026 |
185,000 | 172,012 | ||||||
| Visa |
||||||||
| 3.150%, 12/14/2025 |
100,000 | 100,101 | ||||||
|
|
|
| ||||||
| 1,563,492 | ||||||||
|
|
|
| ||||||
| MATERIALS — 0.4% |
||||||||
| Ecolab |
||||||||
| 1.650%, 02/01/2027 |
100,000 | 93,805 | ||||||
|
|
|
| ||||||
| REAL ESTATE — 7.4% |
||||||||
| Alexandria Real Estate Equities |
||||||||
| 3.950%, 01/15/2027 |
200,000 | 200,470 | ||||||
| The Advisors’ Inner Circle Fund III | LGIM America | |||
| Cash Flow Matched Bond Fund | ||||
| July 31, 2022 (Unaudited) | ||||
| SCHEDULE OF INVESTMENTS
CORPORATE OBLIGATIONS (continued) |
| Face Amount |
Value | |||||||
| REAL ESTATE (continued) |
||||||||
| American Campus Communities Operating Partnership |
||||||||
| 3.300%, 07/15/2026 |
$ | 230,000 | $ | 228,135 | ||||
| ERP Operating |
||||||||
| 2.850%, 11/01/2026 |
250,000 | 240,334 | ||||||
| Mid-America Apartments |
||||||||
| 1.100%, 09/15/2026 |
325,000 | 290,276 | ||||||
| Public Storage |
||||||||
| 1.500%, 11/09/2026 |
300,000 | 277,477 | ||||||
| Realty Income |
||||||||
| 4.625%, 11/01/2025 |
150,000 | 153,890 | ||||||
| 4.600%, 02/06/2024 |
100,000 | 101,356 | ||||||
| Simon Property Group |
||||||||
| 2.000%, 09/13/2024 |
300,000 | 290,781 | ||||||
|
|
|
| ||||||
| 1,782,719 | ||||||||
|
|
|
| ||||||
| UTILITIES — 5.2% |
||||||||
| Entergy Louisiana |
||||||||
| 0.950%, 10/01/2024 |
100,000 | 94,777 | ||||||
| National Rural Utilities Cooperative Finance MTN |
||||||||
| 1.000%, 10/18/2024 |
250,000 | 237,028 | ||||||
| NextEra Energy Capital Holdings |
||||||||
| 1.875%, 01/15/2027 |
125,000 | 115,716 | ||||||
| Oncor Electric Delivery |
||||||||
| 2.750%, 06/01/2024 |
175,000 | 172,809 | ||||||
| Public Service Electric and Gas MTN |
||||||||
| 2.250%, 09/15/2026 |
200,000 | 191,296 | ||||||
| Southern California Gas |
||||||||
| 2.950%, 04/15/2027 |
175,000 | 171,366 | ||||||
| Virginia Electric and Power |
||||||||
| 3.450%, 09/01/2022 |
275,000 | 274,766 | ||||||
|
|
|
| ||||||
| 1,257,758 | ||||||||
|
|
|
| ||||||
| TOTAL CORPORATE OBLIGATIONS |
23,527,756 | |||||||
|
|
|
| ||||||
| TOTAL INVESTMENTS— 97.6% |
$ | 23,527,756 | ||||||
|
|
|
| ||||||
|
|
|
| ||||||
Percentages are based on Net Assets of $24,104,293.
| The Advisors’ Inner Circle Fund III | LGIM America | |||
| Cash Flow Matched Bond Fund | ||||
| July 31, 2022 (Unaudited) | ||||
| (A) | Security exempt from registration under Rule 144A of the Securities Act of 1933. These securities may be resold in transactions exempt from registration normally to qualified institutions. On July 31, 2022, the value of these securities amounted to $2,693,436, representing 11.2% of the Net Assets of the Fund. |
ICE — Intercontinental Exchange
LIBOR — London Interbank Offered Rate
MTN — Medium Term Note
REIT — Real Estate Investment Trust
SOFR — Secured Overnight Financing Rate
VAR — Variable Rate
USD — U.S. Dollar
As of July 31, 2022, all of the Fund’s investments were considered level 2, in accordance with ASC-820.
For information regarding the Fund’s policies regarding valuation of investments and other significant accounting policies, please refer to the Fund’s most recent semi-annual and annual financial statements.
| The Advisors’ Inner Circle Fund III | LGIM America | |||
| Global Developed Equity Index Fund | ||||
| July 31, 2022 (Unaudited) | ||||
| SCHEDULE OF INVESTMENTS
COMMON STOCK — 98.4% |
| Shares | Value | |||||||
| COMMUNICATION SERVICES — 7.0% |
||||||||
| Activision Blizzard |
327 | $ | 26,144 | |||||
| Adevinta, Cl B (A) |
103 | 783 | ||||||
| Alphabet, Cl A (A) |
2,520 | 293,126 | ||||||
| Alphabet, Cl C (A) |
2,360 | 275,270 | ||||||
| AMC Entertainment Holdings, Cl A (A) |
206 | 2,999 | ||||||
| AT&T |
3,007 | 56,472 | ||||||
| Auto Trader Group (B) |
384 | 2,960 | ||||||
| BCE |
29 | 1,465 | ||||||
| Bollore |
355 | 1,792 | ||||||
| BT Group, Cl A |
2,950 | 5,824 | ||||||
| Cable One |
2 | 2,753 | ||||||
| Cameco |
159 | 4,095 | ||||||
| Cellnex Telecom (A) (B) |
244 | 10,914 | ||||||
| Charter Communications, Cl A (A) |
50 | 21,605 | ||||||
| Comcast, Cl A |
1,904 | 71,438 | ||||||
| CyberAgent |
200 | 1,996 | ||||||
| Dentsu Group |
100 | 3,493 | ||||||
| Deutsche Telekom |
1,336 | 25,383 | ||||||
| DISH Network, Cl A (A) |
99 | 1,720 | ||||||
| Electronic Arts |
114 | 14,960 | ||||||
| Elisa |
57 | 3,152 | ||||||
| Embracer Group, Cl B (A) |
370 | 2,820 | ||||||
| Fox |
190 | 6,160 | ||||||
| Hakuhodo DY Holdings |
100 | 1,029 | ||||||
| HKT Trust & HKT |
2,000 | 2,802 | ||||||
| IAC (A) |
32 | 2,192 | ||||||
| Informa |
602 | 4,378 | ||||||
| Infrastrutture Wireless Italiane (B) |
136 | 1,429 | ||||||
| Interpublic Group of |
158 | 4,720 | ||||||
| Kakaku.com |
100 | 1,959 | ||||||
| KDDI |
700 | 22,444 | ||||||
| Koninklijke KPN |
1,350 | 4,454 | ||||||
| Liberty Broadband, Cl C (A) |
56 | 6,100 | ||||||
| Liberty Global (A) |
138 | 3,159 | ||||||
| Liberty Global, Cl A (A) |
65 | 1,414 | ||||||
| Liberty Media -Liberty Formula One, Cl C (A) |
78 | 5,286 | ||||||
| Liberty Media -Liberty SiriusXM (A) |
119 | 4,742 | ||||||
| Live Nation Entertainment (A) |
66 | 6,203 | ||||||
| Lumen Technologies |
377 | 4,106 | ||||||
| Match Group (A) |
119 | 8,724 | ||||||
| Meta Platforms, Cl A (A) |
968 | 154,009 | ||||||
| Netflix (A) |
184 | 41,382 | ||||||
| News |
157 | 2,691 | ||||||
| Nexon |
200 | 4,540 | ||||||
| Nippon Telegraph & Telephone |
500 | 14,283 | ||||||
| Omnicom Group |
86 | 6,006 | ||||||
| Orange |
801 | 8,185 | ||||||
| Paramount Global, Cl B |
243 | 5,747 | ||||||
| The Advisors’ Inner Circle Fund III | LGIM America | |||
| Global Developed Equity Index Fund | ||||
| July 31, 2022 (Unaudited) | ||||
| SCHEDULE OF INVESTMENTS
COMMON STOCK (continued) |
| Shares | Value | |||||||
| COMMUNICATION SERVICES (continued) |
||||||||
| Pearson |
303 | $ | 2,804 | |||||
| Pinterest, Cl A (A) |
222 | 4,325 | ||||||
| Proximus SADP |
62 | 859 | ||||||
| Publicis Groupe |
91 | 4,842 | ||||||
| Quebecor, Cl B |
67 | 1,489 | ||||||
| REA Group |
21 | 1,853 | ||||||
| ROBLOX, Cl A (A) |
155 | 6,654 | ||||||
| Rogers Communications, Cl B |
142 | 6,528 | ||||||
| Roku, Cl A (A) |
47 | 3,080 | ||||||
| Scout24 (B) |
35 | 2,001 | ||||||
| Sea ADR (A) |
160 | 12,211 | ||||||
| SEEK |
134 | 2,170 | ||||||
| Shaw Communications, Cl B |
181 | 4,896 | ||||||
| Singapore Telecommunications (A) |
3,300 | 6,240 | ||||||
| Sirius XM Holdings |
405 | 2,705 | ||||||
| Snap, Cl A (A) |
464 | 4,584 | ||||||
| SoftBank |
1,200 | 13,875 | ||||||
| SoftBank Group |
500 | 21,003 | ||||||
| Spark New Zealand |
747 | 2,402 | ||||||
| Swisscom |
10 | 5,407 | ||||||
| Take-Two Interactive Software (A) |
71 | 9,424 | ||||||
| Tele2, Cl B |
205 | 2,342 | ||||||
| Telecom Italia (A) |
4,001 | 887 | ||||||
| Telefonica |
2,112 | 9,427 | ||||||
| Telefonica Deutschland Holding |
419 | 1,114 | ||||||
| Telenor |
281 | 3,412 | ||||||
| Telia |
1,093 | 4,038 | ||||||
| Telstra |
1,669 | 4,561 | ||||||
| TELUS |
179 | 4,121 | ||||||
| T-Mobile US (A) |
267 | 38,197 | ||||||
| Toho |
100 | 3,971 | ||||||
| Twitter (A) |
322 | 13,399 | ||||||
| Ubisoft Entertainment (A) |
37 | 1,575 | ||||||
| United Internet |
39 | 1,027 | ||||||
| Universal Music Group |
291 | 6,587 | ||||||
| Verizon Communications |
1,775 | 81,987 | ||||||
| Vivendi |
311 | 2,952 | ||||||
| Vodafone Group |
11,628 | 17,136 | ||||||
| Walt Disney (A) |
756 | 80,212 | ||||||
| Warner Bros Discovery (A) |
945 | 14,175 | ||||||
| WPP |
478 | 5,159 | ||||||
| Z Holdings |
1,100 | 3,888 | ||||||
| ZoomInfo Technologies, Cl A (A) |
126 | 4,774 | ||||||
|
|
|
| ||||||
| 1,583,601 | ||||||||
|
|
|
| ||||||
| CONSUMER DISCRETIONARY — 10.8% |
||||||||
| Accor (A) |
68 | 1,765 | ||||||
| adidas |
77 | 13,320 | ||||||
| Advance Auto Parts |
25 | 4,840 | ||||||
| The Advisors’ Inner Circle Fund III | LGIM America | |||
| Global Developed Equity Index Fund | ||||
| July 31, 2022 (Unaudited) | ||||
| SCHEDULE OF INVESTMENTS
COMMON STOCK (continued) |
| Shares | Value | |||||||
| CONSUMER DISCRETIONARY (continued) |
||||||||
| Ageas |
69 | $ | 3,011 | |||||
| Airbnb, Cl A (A) |
143 | 15,870 | ||||||
| Aisin |
100 | 2,970 | ||||||
| Allianz |
174 | 31,599 | ||||||
| Amazon.com (A) |
3,840 | 518,208 | ||||||
| Aptiv (A) |
119 | 12,482 | ||||||
| Aramark |
92 | 3,073 | ||||||
| Aristocrat Leisure |
241 | 6,012 | ||||||
| AutoZone (A) |
9 | 19,237 | ||||||
| Bandai Namco Holdings |
100 | 7,812 | ||||||
| Barratt Developments |
408 | 2,502 | ||||||
| Bath & Body Works |
106 | 3,767 | ||||||
| Bayerische Motoren Werke |
147 | 12,012 | ||||||
| Berkeley Group Holdings (A) |
45 | 2,332 | ||||||
| Best Buy |
90 | 6,929 | ||||||
| Booking Holdings (A) |
17 | 32,907 | ||||||
| BorgWarner |
96 | 3,692 | ||||||
| Bridgestone |
200 | 7,801 | ||||||
| BRP |
22 | 1,673 | ||||||
| Burberry Group |
162 | 3,561 | ||||||
| Burlington Stores (A) |
27 | 3,811 | ||||||
| Caesars Entertainment (A) |
86 | 3,929 | ||||||
| Canadian Tire, Cl A |
23 | 2,955 | ||||||
| CarMax (A) |
65 | 6,470 | ||||||
| Carnival (A) |
393 | 3,561 | ||||||
| Carvana, Cl A (A) |
30 | 875 | ||||||
| Chewy, Cl A (A) |
36 | 1,397 | ||||||
| Chipotle Mexican Grill, Cl A (A) |
12 | 18,771 | ||||||
| Chow Tai Fook Jewellery Group |
800 | 1,582 | ||||||
| Cie Financiere Richemont, Cl A |
223 | 26,889 | ||||||
| Cie Generale des Etablissements Michelin SCA |
312 | 8,731 | ||||||
| Compass Group |
779 | 18,257 | ||||||
| Continental |
44 | 3,135 | ||||||
| Darden Restaurants |
52 | 6,473 | ||||||
| Delivery Hero (A) (B) |
65 | 3,136 | ||||||
| Denso |
200 | 10,939 | ||||||
| D’ieteren Group |
13 | 2,134 | ||||||
| Dollar General |
96 | 23,849 | ||||||
| Dollar Tree (A) |
90 | 14,882 | ||||||
| Dollarama |
116 | 7,030 | ||||||
| Domino’s Pizza |
15 | 5,882 | ||||||
| Domino’s Pizza Enterprises |
24 | 1,227 | ||||||
| DoorDash, Cl A (A) |
84 | 5,859 | ||||||
| DR Horton |
138 | 10,768 | ||||||
| eBay |
261 | 12,692 | ||||||
| Electrolux, Cl B |
92 | 1,327 | ||||||
| Entain (A) |
235 | 3,458 | ||||||
| EssilorLuxottica |
125 | 19,598 | ||||||
| Etsy (A) |
51 | 5,290 | ||||||
| The Advisors’ Inner Circle Fund III | LGIM America | |||
| Global Developed Equity Index Fund | ||||
| July 31, 2022 (Unaudited) | ||||
| SCHEDULE OF INVESTMENTS
COMMON STOCK (continued) |
| Shares | Value | |||||||
| CONSUMER DISCRETIONARY (continued) |
||||||||
| Evolution (B) |
84 | $ | 8,151 | |||||
| Expedia Group (A) |
65 | 6,893 | ||||||
| Ferrari |
51 | 10,831 | ||||||
| Flutter Entertainment (A) |
67 | 6,727 | ||||||
| Ford Motor |
1,675 | 24,606 | ||||||
| Galaxy Entertainment Group (A) |
1,000 | 5,949 | ||||||
| Garmin |
62 | 6,053 | ||||||
| General Motors (A) |
561 | 20,342 | ||||||
| Genting Singapore |
2,400 | 1,402 | ||||||
| Genuine Parts |
57 | 8,714 | ||||||
| Gildan Activewear |
79 | 2,315 | ||||||
| H & M Hennes & Mauritz, Cl B |
294 | 3,762 | ||||||
| Hasbro |
52 | 4,093 | ||||||
| Hermes International |
13 | 17,835 | ||||||
| Hilton Worldwide Holdings |
122 | 15,625 | ||||||
| Home Depot |
434 | 130,608 | ||||||
| Honda Motor |
700 | 17,939 | ||||||
| Hydro One (B) |
132 | 3,685 | ||||||
| IDP Education |
84 | 1,690 | ||||||
| Iida Group Holdings |
100 | 1,637 | ||||||
| Industria de Diseno Textil |
490 | 11,901 | ||||||
| InterContinental Hotels Group |
73 | 4,327 | ||||||
| Isuzu Motors |
200 | 2,194 | ||||||
| JD Sports Fashion |
1,032 | 1,639 | ||||||
| Just Eat Takeaway.com (A) (B) |
72 | 1,320 | ||||||
| Kering |
32 | 18,320 | ||||||
| Kingfisher |
846 | 2,677 | ||||||
| Klepierre (A) |
81 | 1,800 | ||||||
| Koito Manufacturing |
100 | 3,287 | ||||||
| La Francaise des Jeux SAEM (B) |
38 | 1,357 | ||||||
| Las Vegas Sands (A) |
138 | 5,201 | ||||||
| Lear |
24 | 3,627 | ||||||
| Lennar, Cl A |
110 | 9,350 | ||||||
| LKQ |
112 | 6,142 | ||||||
| Lottery (A) |
890 | 2,823 | ||||||
| Lowe’s |
278 | 53,245 | ||||||
| Lucid Group (A) |
162 | 2,957 | ||||||
| Lululemon Athletica (A) |
52 | 16,147 | ||||||
| Marriott International, Cl A |
120 | 19,058 | ||||||
| Mazda Motor |
200 | 1,686 | ||||||
| McDonald’s |
307 | 80,855 | ||||||
| MercadoLibre (A) |
20 | 16,274 | ||||||
| Mercedes-Benz Group |
330 | 19,461 | ||||||
| MGM Resorts International |
154 | 5,040 | ||||||
| Mohawk Industries (A) |
24 | 3,084 | ||||||
| Moncler |
82 | 4,111 | ||||||
| Newell Brands |
153 | 3,092 | ||||||
| Next |
53 | 4,412 | ||||||
| NIKE, Cl B |
537 | 61,712 | ||||||
| The Advisors’ Inner Circle Fund III | LGIM America | |||
| Global Developed Equity Index Fund | ||||
| July 31, 2022 (Unaudited) | ||||
| SCHEDULE OF INVESTMENTS
COMMON STOCK (continued) |
| Shares | Value | |||||||
| CONSUMER DISCRETIONARY (continued) |
||||||||
| Nissan Motor |
900 | $ | 3,423 | |||||
| NVR (A) |
2 | 8,786 | ||||||
| O’Reilly Automotive (A) |
28 | 19,701 | ||||||
| Oriental Land |
100 | 15,183 | ||||||
| Pan Pacific International Holdings |
200 | 3,114 | ||||||
| Panasonic Holdings |
900 | 7,431 | ||||||
| Pandora |
40 | 2,972 | ||||||
| Peloton Interactive, Cl A (A) |
112 | 1,063 | ||||||
| Persimmon |
128 | 2,952 | ||||||
| Pool |
16 | 5,723 | ||||||
| Prosus |
357 | 23,289 | ||||||
| PulteGroup |
104 | 4,536 | ||||||
| Puma |
42 | 2,836 | ||||||
| Rakuten Group (A) |
400 | 1,983 | ||||||
| Renault (A) |
77 | 2,277 | ||||||
| Restaurant Brands International |
114 | 6,112 | ||||||
| Rivian Automotive, Cl A (A) |
69 | 2,367 | ||||||
| Ross Stores |
147 | 11,945 | ||||||
| Royal Caribbean Cruises (A) |
92 | 3,561 | ||||||
| Sands China (A) |
1,200 | 2,815 | ||||||
| SEB |
11 | 926 | ||||||
| Sekisui Chemical |
200 | 2,814 | ||||||
| Sekisui House |
200 | 3,542 | ||||||
| Sharp (A) |
100 | 805 | ||||||
| Sodexo |
35 | 2,844 | ||||||
| Sony Group |
500 | 42,414 | ||||||
| Starbucks |
472 | 40,016 | ||||||
| Stellantis |
993 | 14,260 | ||||||
| Subaru |
300 | 5,220 | ||||||
| Sumitomo Electric Industries |
300 | 3,345 | ||||||
| Suzuki Motor |
200 | 6,556 | ||||||
| Swatch Group |
90 | 4,495 | ||||||
| Target |
198 | 32,349 | ||||||
| Taylor Wimpey |
1,459 | 2,271 | ||||||
| Tesla (A) |
367 | 327,162 | ||||||
| TJX |
491 | 30,030 | ||||||
| Toyota Motor |
4,400 | 71,417 | ||||||
| Tractor Supply |
46 | 8,808 | ||||||
| Ulta Beauty (A) |
25 | 9,723 | ||||||
| USS |
100 | 1,962 | ||||||
| Vail Resorts |
16 | 3,794 | ||||||
| Valeo |
92 | 1,976 | ||||||
| VF |
134 | 5,987 | ||||||
| Volkswagen |
13 | 2,575 | ||||||
| Volvo Car, Cl B (A) |
276 | 2,055 | ||||||
| Wayfair, Cl A (A) |
29 | 1,563 | ||||||
| Wesfarmers |
496 | 16,252 | ||||||
| Whirlpool |
25 | 4,322 | ||||||
| Whitbread |
81 | 2,578 | ||||||
| The Advisors’ Inner Circle Fund III | LGIM America | |||
| Global Developed Equity Index Fund | ||||
| July 31, 2022 (Unaudited) | ||||
| SCHEDULE OF INVESTMENTS
COMMON STOCK (continued) |
| Shares | Value | |||||||
| CONSUMER DISCRETIONARY (continued) |
||||||||
| Wynn Resorts (A) |
42 | $ | 2,666 | |||||
| Yamaha |
100 | 4,265 | ||||||
| Yamaha Motor |
100 | 1,932 | ||||||
| Yum! Brands |
117 | 14,337 | ||||||
| Zalando (A) |
89 | 2,506 | ||||||
|
|
|
| ||||||
| 2,428,074 | ||||||||
|
|
|
| ||||||
| CONSUMER STAPLES — 7.2% |
||||||||
| Aeon |
300 | 6,050 | ||||||
| Ajinomoto |
200 | 5,263 | ||||||
| Alimentation Couche-Tard |
367 | 16,396 | ||||||
| Altria Group |
753 | 33,026 | ||||||
| Anheuser-Busch InBev |
373 | 19,981 | ||||||
| Archer-Daniels-Midland |
244 | 20,196 | ||||||
| Asahi Group Holdings |
200 | 6,953 | ||||||
| Associated British Foods |
143 | 2,921 | ||||||
| Barry Callebaut |
2 | 4,431 | ||||||
| Beiersdorf |
40 | 4,125 | ||||||
| British American Tobacco |
928 | 36,363 | ||||||
| Brown-Forman, Cl B |
124 | 9,203 | ||||||
| Budweiser Brewing APAC (B) |
700 | 1,938 | ||||||
| Bunge |
57 | 5,263 | ||||||
| Campbell Soup |
79 | 3,899 | ||||||
| Carlsberg, Cl B |
40 | 5,174 | ||||||
| Carrefour |
254 | 4,329 | ||||||
| Chocoladefabriken Lindt & Spruengli |
1 | 11,059 | ||||||
| Church & Dwight |
99 | 8,709 | ||||||
| Clorox |
49 | 6,950 | ||||||
| Coca-Cola |
1,703 | 109,281 | ||||||
| Coca-Cola Europacific Partners |
82 | 4,438 | ||||||
| Coca-Cola HBC (A) |
80 | 1,969 | ||||||
| Coles Group |
538 | 7,086 | ||||||
| Colgate-Palmolive |
340 | 26,772 | ||||||
| Conagra Brands |
193 | 6,603 | ||||||
| Constellation Brands, Cl A |
69 | 16,995 | ||||||
| Costco Wholesale |
184 | 99,599 | ||||||
| Danone |
286 | 15,770 | ||||||
| Davide Campari-Milano |
210 | 2,331 | ||||||
| Diageo |
973 | 46,093 | ||||||
| Empire |
68 | 2,064 | ||||||
| Endeavour Group |
545 | 3,036 | ||||||
| Essity, Cl B |
246 | 6,262 | ||||||
| Estee Lauder, Cl A |
99 | 27,037 | ||||||
| General Mills |
265 | 19,819 | ||||||
| George Weston |
31 | 3,700 | ||||||
| Haleon (A) |
2,111 | 7,502 | ||||||
| Heineken |
118 | 11,633 | ||||||
| Heineken Holding |
46 | 3,635 | ||||||
| HelloFresh (A) |
66 | 1,824 | ||||||
| The Advisors’ Inner Circle Fund III | LGIM America | |||
| Global Developed Equity Index Fund | ||||
| July 31, 2022 (Unaudited) | ||||
| SCHEDULE OF INVESTMENTS
COMMON STOCK (continued) |
| Shares | Value | |||||||
| CONSUMER STAPLES (continued) |
||||||||
| Henkel & KGaA |
42 | $ | 2,648 | |||||
| Hershey |
65 | 14,817 | ||||||
| Hormel Foods |
120 | 5,921 | ||||||
| Imperial Brands |
379 | 8,322 | ||||||
| J M Smucker |
44 | 5,822 | ||||||
| J Sainsbury |
710 | 1,915 | ||||||
| Japan Tobacco |
500 | 8,978 | ||||||
| JDE Peet’s |
40 | 1,160 | ||||||
| Jeronimo Martins SGPS |
115 | 2,662 | ||||||
| Kao |
200 | 8,699 | ||||||
| Kellogg |
103 | 7,614 | ||||||
| Kerry Group, Cl A |
64 | 6,755 | ||||||
| Kesko, Cl B |
110 | 2,721 | ||||||
| Keurig Dr Pepper |
345 | 13,365 | ||||||
| Kikkoman |
100 | 5,929 | ||||||
| Kimberly-Clark |
146 | 19,241 | ||||||
| Kirin Holdings |
300 | 4,935 | ||||||
| Koninklijke Ahold Delhaize |
471 | 12,971 | ||||||
| Kraft Heinz |
320 | 11,786 | ||||||
| Kroger |
285 | 13,235 | ||||||
| McCormick |
100 | 8,735 | ||||||
| MEIJI Holdings |
100 | 5,221 | ||||||
| Metro, Cl A |
100 | 5,537 | ||||||
| Molson Coors Beverage, Cl B |
76 | 4,541 | ||||||
| Mondelez International, Cl A |
591 | 37,848 | ||||||
| Monster Beverage (A) |
163 | 16,238 | ||||||
| Mowi |
176 | 4,061 | ||||||
| Nestle |
1,165 | 142,744 | ||||||
| Nisshin Seifun Group |
100 | 1,231 | ||||||
| Ocado Group (A) |
196 | 2,015 | ||||||
| Orkla |
302 | 2,607 | ||||||
| PepsiCo |
580 | 101,477 | ||||||
| Pernod Ricard |
86 | 16,894 | ||||||
| Philip Morris International |
646 | 62,759 | ||||||
| Procter & Gamble |
1,002 | 139,188 | ||||||
| Reckitt Benckiser Group |
293 | 23,767 | ||||||
| Remy Cointreau |
9 | 1,778 | ||||||
| Salmar |
33 | 2,364 | ||||||
| Seven & i Holdings |
300 | 12,228 | ||||||
| Shiseido |
200 | 8,227 | ||||||
| Suntory Beverage & Food |
100 | 3,946 | ||||||
| Swedish Match |
637 | 6,668 | ||||||
| Sysco |
204 | 17,320 | ||||||
| Tesco |
3,114 | 9,987 | ||||||
| Treasury Wine Estates |
289 | 2,491 | ||||||
| Tyson Foods, Cl A |
118 | 10,385 | ||||||
| Unicharm |
200 | 7,244 | ||||||
| Unilever |
1,078 | 52,502 | ||||||
| Walgreens Boots Alliance |
291 | 11,529 | ||||||
| The Advisors’ Inner Circle Fund III | LGIM America | |||
| Global Developed Equity Index Fund | ||||
| July 31, 2022 (Unaudited) | ||||
| SCHEDULE OF INVESTMENTS
COMMON STOCK (continued) |
| Shares | Value | |||||||
| CONSUMER STAPLES (continued) |
||||||||
| Walmart |
633 | $ | 83,588 | |||||
| WH Group |
3,500 | 2,651 | ||||||
| Wilmar International |
800 | 2,331 | ||||||
| Woolworths Group |
509 | 13,391 | ||||||
| Yakult Honsha |
100 | 6,090 | ||||||
|
|
|
| ||||||
| 1,624,757 | ||||||||
|
|
|
| ||||||
| ENERGY — 5.0% |
||||||||
| Aker |
77 | 2,576 | ||||||
| Aker BP |
50 | 1,737 | ||||||
| Ampol |
95 | 2,251 | ||||||
| APA |
147 | 5,464 | ||||||
| ARC Resources |
288 | 4,039 | ||||||
| Baker Hughes, Cl A |
400 | 10,276 | ||||||
| BP |
8,183 | 40,050 | ||||||
| Canadian Natural Resources |
493 | 27,223 | ||||||
| Cenovus Energy |
595 | 11,337 | ||||||
| Cheniere Energy |
97 | 14,509 | ||||||
| Chevron |
815 | 133,481 | ||||||
| ConocoPhillips |
548 | 53,392 | ||||||
| Coterra Energy |
355 | 10,859 | ||||||
| Devon Energy |
258 | 16,215 | ||||||
| Diamondback Energy |
69 | 8,833 | ||||||
| Enbridge |
866 | 38,892 | ||||||
| ENEOS Holdings |
1,200 | 4,642 | ||||||
| Eni |
1,008 | 12,117 | ||||||
| EOG Resources |
247 | 27,471 | ||||||
| Equinor |
392 | 15,094 | ||||||
| Equities |
144 | 6,340 | ||||||
| Exxon Mobil |
1,769 | 171,469 | ||||||
| Galp Energia SGPS |
200 | 2,111 | ||||||
| Halliburton |
395 | 11,574 | ||||||
| Hess |
112 | 12,597 | ||||||
| Idemitsu Kosan |
100 | 2,600 | ||||||
| Imperial Oil |
99 | 4,745 | ||||||
| Inpex |
400 | 4,585 | ||||||
| Keyera |
88 | 2,281 | ||||||
| Kinder Morgan |
829 | 14,914 | ||||||
| Marathon Oil |
304 | 7,539 | ||||||
| Marathon Petroleum |
235 | 21,540 | ||||||
| Neste |
170 | 8,742 | ||||||
| Occidental Petroleum |
389 | 25,577 | ||||||
| OMV |
59 | 2,513 | ||||||
| ONEOK |
179 | 10,693 | ||||||
| Parkland |
61 | 1,712 | ||||||
| Pembina Pipeline |
220 | 8,399 | ||||||
| Phillips 66 |
210 | 18,690 | ||||||
| Pioneer Natural Resources |
99 | 23,458 | ||||||
| Repsol |
581 | 7,238 | ||||||
| The Advisors’ Inner Circle Fund III | LGIM America | |||
| Global Developed Equity Index Fund | ||||
| July 31, 2022 (Unaudited) | ||||
| SCHEDULE OF INVESTMENTS
COMMON STOCK (continued) |
| Shares | Value | |||||||
| ENERGY (continued) |
||||||||
| Santos |
1,288 | $ | 6,696 | |||||
| Schlumberger |
592 | 21,922 | ||||||
| Shell |
3,163 | 84,377 | ||||||
| Suncor Energy |
595 | 20,193 | ||||||
| Targa Resources |
89 | 6,151 | ||||||
| TC Energy |
431 | 22,978 | ||||||
| Tenaris |
189 | 2,645 | ||||||
| TotalEnergies |
1,046 | 53,427 | ||||||
| Tourmaline Oil |
124 | 7,769 | ||||||
| Valero Energy |
169 | 18,720 | ||||||
| Williams |
528 | 18,000 | ||||||
| Woodside Energy Group (A) |
840 | 18,971 | ||||||
|
|
|
| ||||||
| 1,091,624 | ||||||||
|
|
|
| ||||||
| FINANCIALS — 13.1% |
||||||||
| 3i Group |
390 | 6,060 | ||||||
| ABN AMRO Bank (B) |
177 | 1,805 | ||||||
| abrdn |
871 | 1,766 | ||||||
| Admiral Group |
77 | 1,800 | ||||||
| Aegon |
732 | 3,215 | ||||||
| Aflac |
255 | 14,611 | ||||||
| AIA Group |
5,000 | 50,233 | ||||||
| Alleghany (A) |
6 | 5,025 | ||||||
| Allstate |
119 | 13,919 | ||||||
| Ally Financial |
144 | 4,762 | ||||||
| American Express |
265 | 40,815 | ||||||
| American Financial Group |
29 | 3,877 | ||||||
| American International Group |
343 | 17,757 | ||||||
| Ameriprise Financial |
46 | 12,416 | ||||||
| Amundi (B) |
24 | 1,303 | ||||||
| Annaly Capital Management |
578 | 3,977 | ||||||
| Aon, Cl A |
86 | 25,029 | ||||||
| Apollo Global Management |
156 | 8,908 | ||||||
| Arch Capital Group (A) |
159 | 7,060 | ||||||
| Arthur J Gallagher |
93 | 16,646 | ||||||
| Assurant |
24 | 4,219 | ||||||
| ASX |
78 | 4,848 | ||||||
| Australia & New Zealand Banking Group |
1,169 | 18,892 | ||||||
| Aviva |
1,190 | 5,763 | ||||||
| AXA |
847 | 19,517 | ||||||
| Baloise Holding |
19 | 3,027 | ||||||
| Banco Bilbao Vizcaya Argentaria |
2,906 | 13,169 | ||||||
| Banco Santander |
7,186 | 17,978 | ||||||
| Bank Hapoalim |
640 | 5,965 | ||||||
| Bank Leumi Le-Israel |
582 | 5,659 | ||||||
| Bank of America |
3,024 | 102,241 | ||||||
| Bank of Montreal |
279 | 27,814 | ||||||
| Bank of New York Mellon |
329 | 14,298 | ||||||
| Bank of Nova Scotia |
517 | 31,495 | ||||||
| The Advisors’ Inner Circle Fund III | LGIM America | |||
| Global Developed Equity Index Fund | ||||
| July 31, 2022 (Unaudited) | ||||
| SCHEDULE OF INVESTMENTS
COMMON STOCK (continued) |
| Shares | Value | |||||||
| FINANCIALS (continued) |
||||||||
| Barclays |
7,354 | $ | 14,087 | |||||
| Berkshire Hathaway, Cl B (A) |
538 | 161,723 | ||||||
| BlackRock, Cl A |
63 | 42,158 | ||||||
| Blackstone |
288 | 29,396 | ||||||
| BNP Paribas |
461 | 21,781 | ||||||
| BOC Hong Kong Holdings |
1,500 | 5,426 | ||||||
| Brookfield Asset Management, Cl A |
601 | 29,821 | ||||||
| Brown & Brown |
96 | 6,250 | ||||||
| CaixaBank |
1,775 | 5,330 | ||||||
| Canadian Imperial Bank of Commerce |
372 | 18,819 | ||||||
| Capital One Financial |
178 | 19,550 | ||||||
| Carlyle Group |
64 | 2,490 | ||||||
| Cboe Global Markets |
43 | 5,305 | ||||||
| Charles Schwab |
605 | 41,775 | ||||||
| Chiba Bank |
200 | 1,109 | ||||||
| Chubb |
179 | 33,767 | ||||||
| Cincinnati Financial |
61 | 5,938 | ||||||
| Citigroup |
824 | 42,766 | ||||||
| Citizens Financial Group |
245 | 9,303 | ||||||
| CME Group, Cl A |
153 | 30,520 | ||||||
| Coinbase Global, Cl A (A) |
53 | 3,337 | ||||||
| Commerzbank (A) |
401 | 2,747 | ||||||
| Commonwealth Bank of Australia |
719 | 51,061 | ||||||
| Concordia Financial Group |
400 | 1,361 | ||||||
| Credit Suisse Group |
1,062 | 6,177 | ||||||
| Dai-ichi Life Holdings |
400 | 6,958 | ||||||
| Daiwa Securities Group |
600 | 2,770 | ||||||
| Danske Bank (A) |
276 | 3,860 | ||||||
| DBS Group Holdings |
800 | 18,255 | ||||||
| Deutsche Bank |
828 | 7,242 | ||||||
| Deutsche Boerse |
77 | 13,441 | ||||||
| Discover Financial Services |
120 | 12,120 | ||||||
| DNB Bank |
373 | 7,358 | ||||||
| Equitable Holdings |
148 | 4,208 | ||||||
| Equities |
119 | 3,230 | ||||||
| Erie Indemnity, Cl A |
10 | 2,034 | ||||||
| Erste Group Bank |
138 | 3,499 | ||||||
| Eurazeo |
16 | 1,143 | ||||||
| Euronext (B) |
34 | 2,770 | ||||||
| Everest Re Group |
16 | 4,182 | ||||||
| EXOR |
43 | 3,024 | ||||||
| FactSet Research Systems |
15 | 6,445 | ||||||
| Fairfax Financial Holdings |
10 | 5,387 | ||||||
| Fidelity National Financial |
109 | 4,356 | ||||||
| Fifth Third Bancorp |
277 | 9,451 | ||||||
| FinecoBank Banca Fineco |
245 | 3,045 | ||||||
| First Citizens BancShares, Cl A |
5 | 3,783 | ||||||
| First Republic Bank |
71 | 11,552 | ||||||
| Franklin Resources |
121 | 3,321 | ||||||
| The Advisors’ Inner Circle Fund III | LGIM America | |||
| Global Developed Equity Index Fund | ||||
| July 31, 2022 (Unaudited) | ||||
| SCHEDULE OF INVESTMENTS
COMMON STOCK (continued) |
| Shares | Value | |||||||
| FINANCIALS (continued) |
||||||||
| Futu Holdings ADR (A) |
20 | $ | 832 | |||||
| Gjensidige Forsikring |
80 | 1,673 | ||||||
| Globe Life |
39 | 3,928 | ||||||
| Goldman Sachs Group |
142 | 47,341 | ||||||
| Great-West Lifeco |
112 | 2,722 | ||||||
| Groupe Bruxelles Lambert |
45 | 3,983 | ||||||
| Hang Seng Bank |
300 | 4,839 | ||||||
| Hannover Rueck |
24 | 3,404 | ||||||
| Hargreaves Lansdown |
143 | 1,480 | ||||||
| Hartford Financial Services Group |
139 | 8,961 | ||||||
| Hong Kong Exchanges & Clearing |
500 | 22,945 | ||||||
| HSBC Holdings |
8,527 | 53,413 | ||||||
| Huntington Bancshares |
592 | 7,868 | ||||||
| iA Financial |
43 | 2,366 | ||||||
| IGM Financial |
33 | 958 | ||||||
| Industrivarden, Cl A |
68 | 1,774 | ||||||
| Industrivarden, Cl C |
32 | 825 | ||||||
| ING Groep |
1,608 | 15,620 | ||||||
| Insurance Australia Group |
988 | 3,109 | ||||||
| Intact Financial |
71 | 10,568 | ||||||
| Intercontinental Exchange |
241 | 24,580 | ||||||
| Intesa Sanpaolo |
6,933 | 12,311 | ||||||
| Invesco |
139 | 2,466 | ||||||
| Investor, Cl A |
199 | 4,091 | ||||||
| Investor, Cl B |
750 | 13,996 | ||||||
| Israel Discount Bank, Cl A |
466 | 2,650 | ||||||
| Japan Exchange Group |
200 | 3,180 | ||||||
| Japan Post Bank |
200 | 1,600 | ||||||
| Japan Post Holdings |
1,000 | 7,200 | ||||||
| Japan Post Insurance |
100 | 1,617 | ||||||
| JPMorgan Chase |
1,227 | 141,547 | ||||||
| Julius Baer Group |
89 | 4,602 | ||||||
| KBC Group |
100 | 5,238 | ||||||
| KeyCorp |
383 | 7,009 | ||||||
| Kinnevik, Cl B (A) |
98 | 1,765 | ||||||
| KKR |
248 | 13,754 | ||||||
| L E Lundbergforetagen, Cl B |
32 | 1,519 | ||||||
| Legal & General Group |
2,388 | 7,626 | ||||||
| Lincoln National |
71 | 3,645 | ||||||
| Lloyds Banking Group |
30,594 | 16,939 | ||||||
| Loblaw |
69 | 6,281 | ||||||
| Loews |
88 | 5,126 | ||||||
| London Stock Exchange Group |
132 | 12,882 | ||||||
| LPL Financial Holdings |
36 | 7,557 | ||||||
| LVMH Moet Hennessy Louis Vuitton |
116 | 80,545 | ||||||
| M&G |
1,037 | 2,703 | ||||||
| M&T Bank |
75 | 13,309 | ||||||
| Macquarie Group |
156 | 19,965 | ||||||
| Manulife Financial |
819 | 14,992 | ||||||
| The Advisors’ Inner Circle Fund III | LGIM America | |||
| Global Developed Equity Index Fund | ||||
| July 31, 2022 (Unaudited) | ||||
| SCHEDULE OF INVESTMENTS
COMMON STOCK (continued) |
| Shares | Value | |||||||
| FINANCIALS (continued) |
||||||||
| Markel (A) |
6 | $ | 7,783 | |||||
| MarketAxess Holdings |
15 | 4,062 | ||||||
| Marsh & McLennan |
213 | 34,923 | ||||||
| Medibank Pvt |
1,105 | 2,657 | ||||||
| Mediobanca Banca di Credito Finanziario |
248 | 2,127 | ||||||
| MetLife |
295 | 18,659 | ||||||
| Mitsubishi HC Capital |
300 | 1,454 | ||||||
| Mitsubishi UFJ Financial Group |
4,900 | 27,609 | ||||||
| Mizrahi Tefahot Bank (A) |
56 | 2,082 | ||||||
| Mizuho Financial Group |
1,000 | 11,926 | ||||||
| Moody’s |
72 | 22,338 | ||||||
| Morgan Stanley |
551 | 46,449 | ||||||
| MS&AD Insurance Group Holdings |
200 | 6,486 | ||||||
| MSCI, Cl A |
32 | 15,403 | ||||||
| Muenchener Rueckversicherungs-Gesellschaft in Muenchen |
58 | 13,149 | ||||||
| Nasdaq |
47 | 8,502 | ||||||
| National Australia Bank |
1,350 | 29,155 | ||||||
| NatWest Group |
2,306 | 7,004 | ||||||
| NN Group |
111 | 5,208 | ||||||
| Nomura Holdings |
1,200 | 4,579 | ||||||
| Nordea Bank Abp |
1,495 | 14,741 | ||||||
| Northern Trust |
79 | 7,883 | ||||||
| Onex |
31 | 1,657 | ||||||
| ORIX |
500 | 8,911 | ||||||
| Oversea-Chinese Banking |
1,400 | 11,865 | ||||||
| Partners Group Holding |
10 | 10,918 | ||||||
| Phoenix Group Holdings |
260 | 2,048 | ||||||
| PNC Financial Services Group |
172 | 28,542 | ||||||
| Poste Italiane (B) |
209 | 1,756 | ||||||
| Power Corp of Canada |
224 | 6,087 | ||||||
| Principal Financial Group |
108 | 7,230 | ||||||
| Progressive |
249 | 28,650 | ||||||
| Prudential |
1,155 | 14,246 | ||||||
| Prudential Financial |
155 | 15,498 | ||||||
| QBE Insurance Group |
591 | 4,779 | ||||||
| Raymond James Financial |
74 | 7,287 | ||||||
| Regions Financial |
382 | 8,091 | ||||||
| Resona Holdings |
800 | 3,109 | ||||||
| Royal Bank of Canada |
605 | 58,991 | ||||||
| S&P Global |
150 | 56,540 | ||||||
| Sampo, Cl A |
200 | 8,641 | ||||||
| SBI Holdings |
100 | 2,029 | ||||||
| Schroders |
50 | 1,814 | ||||||
| SEI Investments |
48 | 2,657 | ||||||
| Shizuoka Bank |
200 | 1,210 | ||||||
| Signature Bank NY |
24 | 4,454 | ||||||
| Singapore Exchange |
300 | 2,150 | ||||||
| Skandinaviska Enskilda Banken, Cl A |
657 | 7,118 | ||||||
| The Advisors’ Inner Circle Fund III | LGIM America | |||
| Global Developed Equity Index Fund | ||||
| July 31, 2022 (Unaudited) | ||||
| SCHEDULE OF INVESTMENTS
COMMON STOCK (continued) |
| Shares | Value | |||||||
| FINANCIALS (continued) |
||||||||
| Societe Generale |
325 | $ | 7,282 | |||||
| Sofina |
6 | 1,405 | ||||||
| Sompo Holdings |
100 | 4,463 | ||||||
| St. James’s Place |
216 | 3,245 | ||||||
| Standard Chartered |
1,054 | 7,265 | ||||||
| State Street |
163 | 11,580 | ||||||
| Sumitomo Mitsui Financial Group |
600 | 18,823 | ||||||
| Sumitomo Mitsui Trust Holdings |
200 | 6,570 | ||||||
| Sun Life Financial |
235 | 10,912 | ||||||
| Suncorp Group |
514 | 4,059 | ||||||
| SVB Financial Group (A) |
24 | 9,685 | ||||||
| Svenska Handelsbanken, Cl A |
590 | 5,305 | ||||||
| Swedbank |
366 | 5,069 | ||||||
| Swiss Life Holding |
13 | 6,887 | ||||||
| Swiss Re |
135 | 10,130 | ||||||
| Synchrony Financial |
228 | 7,633 | ||||||
| T Rowe Price Group |
107 | 13,211 | ||||||
| T&D Holdings |
200 | 2,264 | ||||||
| Tokio Marine Holdings |
300 | 17,562 | ||||||
| Toronto-Dominion Bank |
779 | 50,601 | ||||||
| Tradeweb Markets, Cl A |
42 | 2,962 | ||||||
| Travelers |
103 | 16,346 | ||||||
| Truist Financial |
571 | 28,818 | ||||||
| Tryg |
145 | 3,306 | ||||||
| UBS Group |
1,450 | 23,694 | ||||||
| UniCredit |
854 | 8,446 | ||||||
| United Overseas Bank |
500 | 9,976 | ||||||
| Upstart Holdings (A) |
20 | 487 | ||||||
| US Bancorp |
601 | 28,367 | ||||||
| W R Berkley |
85 | 5,315 | ||||||
| Webster Financial |
74 | 3,437 | ||||||
| Wells Fargo |
1,611 | 70,675 | ||||||
| Wendel |
11 | 1,012 | ||||||
| Westpac Banking |
1,467 | 22,215 | ||||||
| Willis Towers Watson |
52 | 10,761 | ||||||
| Zurich Insurance Group |
65 | 28,374 | ||||||
|
|
|
| ||||||
| 2,959,203 | ||||||||
|
|
|
| ||||||
| HEALTH CARE — 13.3% |
||||||||
| Abbott Laboratories |
740 | 80,542 | ||||||
| AbbVie |
736 | 105,623 | ||||||
| ABIOMED (A) |
18 | 5,274 | ||||||
| Agilent Technologies |
133 | 17,835 | ||||||
| Alcon |
220 | 17,315 | ||||||
| Align Technology (A) |
33 | 9,272 | ||||||
| Alnylam Pharmaceuticals (A) |
48 | 6,818 | ||||||
| AmerisourceBergen, Cl A |
62 | 9,048 | ||||||
| Amgen |
231 | 57,166 | ||||||
| Amplifon |
50 | 1,653 | ||||||
| The Advisors’ Inner Circle Fund III | LGIM America | |||
| Global Developed Equity Index Fund | ||||
| July 31, 2022 (Unaudited) | ||||
| SCHEDULE OF INVESTMENTS
COMMON STOCK (continued) |
| Shares | Value | |||||||
| HEALTH CARE (continued) |
||||||||
| Argenx (A) |
23 | $ | 8,402 | |||||
| Asahi Intecc |
100 | 1,850 | ||||||
| Astellas Pharma |
800 | 12,529 | ||||||
| AstraZeneca |
651 | 85,634 | ||||||
| Avantor (A) |
255 | 7,400 | ||||||
| Bachem Holding, Cl B |
15 | 1,012 | ||||||
| Bausch Health (A) |
122 | 562 | ||||||
| Baxter International |
218 | 12,788 | ||||||
| Bayer |
408 | 23,799 | ||||||
| Becton Dickinson and |
117 | 28,584 | ||||||
| Biogen (A) |
60 | 12,904 | ||||||
| BioMarin Pharmaceutical (A) |
74 | 6,368 | ||||||
| BioMerieux |
17 | 1,840 | ||||||
| Bio-Rad Laboratories, Cl A (A) |
9 | 5,069 | ||||||
| Bio-Techne |
16 | 6,165 | ||||||
| Boston Scientific (A) |
605 | 24,835 | ||||||
| Bristol-Myers Squibb |
904 | 66,697 | ||||||
| Cardinal Health |
116 | 6,909 | ||||||
| Carl Zeiss Meditec |
16 | 2,335 | ||||||
| Catalent (A) |
68 | 7,691 | ||||||
| Centene (A) |
252 | 23,428 | ||||||
| Charles River Laboratories International (A) |
20 | 5,011 | ||||||
| Chugai Pharmaceutical |
300 | 8,428 | ||||||
| Cigna |
132 | 36,348 | ||||||
| Cochlear |
26 | 3,919 | ||||||
| Coloplast, Cl B |
48 | 5,618 | ||||||
| Cooper |
20 | 6,540 | ||||||
| CSL |
202 | 41,131 | ||||||
| CVS Health |
549 | 52,528 | ||||||
| Daiichi Sankyo |
800 | 21,212 | ||||||
| Danaher |
287 | 83,652 | ||||||
| DaVita (A) |
27 | 2,272 | ||||||
| Demant (A) |
43 | 1,638 | ||||||
| DENTSPLY SIRONA |
88 | 3,182 | ||||||
| Dexcom (A) |
156 | 12,804 | ||||||
| DiaSorin |
10 | 1,391 | ||||||
| Edwards Lifesciences (A) |
267 | 26,844 | ||||||
| Eisai |
100 | 4,579 | ||||||
| Elanco Animal Health (A) |
171 | 3,464 | ||||||
| Elevance Health |
100 | 47,710 | ||||||
| Eli Lilly |
336 | 110,776 | ||||||
| Eurofins Scientific |
54 | 4,210 | ||||||
| Exact Sciences (A) |
69 | 3,112 | ||||||
| Fisher & Paykel Healthcare |
231 | 3,089 | ||||||
| Fresenius & KGaA |
168 | 4,299 | ||||||
| Fresenius Medical Care & KGaA |
82 | 3,040 | ||||||
| Genmab (A) |
26 | 9,251 | ||||||
| Getinge, Cl B |
92 | 2,076 | ||||||
| Gilead Sciences |
530 | 31,668 | ||||||
| The Advisors’ Inner Circle Fund III | LGIM America | |||
| Global Developed Equity Index Fund | ||||
| July 31, 2022 (Unaudited) | ||||
| SCHEDULE OF INVESTMENTS
COMMON STOCK (continued) |
| Shares | Value | |||||||
| HEALTH CARE (continued) |
||||||||
| GN Store Nord |
50 | $ | 1,741 | |||||
| Grifols (A) |
120 | 1,751 | ||||||
| GSK |
1,688 | 35,465 | ||||||
| HCA Healthcare |
103 | 21,879 | ||||||
| Henry Schein (A) |
56 | 4,414 | ||||||
| Hikma Pharmaceuticals |
70 | 1,480 | ||||||
| Hologic (A) |
102 | 7,281 | ||||||
| Horizon Therapeutics (A) |
86 | 7,135 | ||||||
| Hoya |
200 | 20,038 | ||||||
| Humana |
53 | 25,546 | ||||||
| IDEXX Laboratories (A) |
37 | 14,770 | ||||||
| Illumina (A) |
64 | 13,868 | ||||||
| Incyte (A) |
75 | 5,826 | ||||||
| Insulet (A) |
28 | 6,938 | ||||||
| Intuitive Surgical (A) |
149 | 34,295 | ||||||
| Ipsen |
15 | 1,517 | ||||||
| IQVIA Holdings (A) |
84 | 20,183 | ||||||
| Jazz Pharmaceuticals (A) |
25 | 3,902 | ||||||
| Johnson & Johnson |
1,094 | 190,925 | ||||||
| Koninklijke Philips |
381 | 7,885 | ||||||
| Kyowa Kirin |
100 | 2,358 | ||||||
| Laboratory Corp of America Holdings |
39 | 10,225 | ||||||
| Lonza Group |
31 | 18,840 | ||||||
| M3 (A) |
200 | 6,968 | ||||||
| Masimo (A) |
21 | 3,036 | ||||||
| McKesson |
62 | 21,178 | ||||||
| Medtronic |
559 | 51,719 | ||||||
| Merck |
1,063 | 94,968 | ||||||
| Merck KGaA |
52 | 9,904 | ||||||
| Mettler-Toledo International (A) |
10 | 13,497 | ||||||
| Moderna (A) |
145 | 23,793 | ||||||
| Molina Healthcare (A) |
23 | 7,538 | ||||||
| Neurocrine Biosciences (A) |
38 | 3,577 | ||||||
| Novartis |
922 | 79,227 | ||||||
| Novo Nordisk, Cl B |
711 | 82,813 | ||||||
| Novocure (A) |
37 | 2,516 | ||||||
| Olympus |
500 | 10,701 | ||||||
| Ono Pharmaceutical |
200 | 5,624 | ||||||
| Orion, Cl B |
43 | 2,053 | ||||||
| Otsuka Holdings |
200 | 7,145 | ||||||
| PerkinElmer |
58 | 8,884 | ||||||
| Pfizer |
2,348 | 118,597 | ||||||
| QIAGEN (A) |
92 | 4,611 | ||||||
| Quest Diagnostics |
49 | 6,692 | ||||||
| Ramsay Health Care |
73 | 3,606 | ||||||
| Recordati Industria Chimica e Farmaceutica |
42 | 1,863 | ||||||
| Regeneron Pharmaceuticals (A) |
45 | 26,176 | ||||||
| ResMed |
65 | 15,634 | ||||||
| Roche Holding |
303 | 101,581 | ||||||
| The Advisors’ Inner Circle Fund III | LGIM America | |||
| Global Developed Equity Index Fund | ||||
| July 31, 2022 (Unaudited) | ||||
| SCHEDULE OF INVESTMENTS
COMMON STOCK (continued) |
| Shares | Value | |||||||
| HEALTH CARE (continued) |
||||||||
| Royalty Pharma, Cl A |
137 | $ | 5,958 | |||||
| Sanofi |
477 | 47,401 | ||||||
| Sartorius Stedim Biotech |
11 | 4,400 | ||||||
| Seagen (A) |
55 | 9,899 | ||||||
| Shionogi |
100 | 5,129 | ||||||
| Siemens Healthineers (B) |
113 | 5,791 | ||||||
| Smith & Nephew |
352 | 4,513 | ||||||
| Sonic Healthcare |
182 | 4,383 | ||||||
| Sonova Holding |
22 | 7,924 | ||||||
| STERIS |
40 | 9,026 | ||||||
| Straumann Holding |
53 | 7,168 | ||||||
| Stryker |
144 | 30,924 | ||||||
| Swedish Orphan Biovitrum (A) |
89 | 1,955 | ||||||
| Sysmex |
100 | 7,001 | ||||||
| Takeda Pharmaceutical |
600 | 17,604 | ||||||
| Teladoc Health (A) |
57 | 2,100 | ||||||
| Teleflex |
19 | 4,569 | ||||||
| Terumo |
300 | 10,243 | ||||||
| Teva Pharmaceutical Industries ADR (A) |
442 | 4,146 | ||||||
| Thermo Fisher Scientific |
162 | 96,942 | ||||||
| UCB |
51 | 3,985 | ||||||
| UnitedHealth Group |
394 | 213,682 | ||||||
| Universal Health Services, Cl B |
30 | 3,374 | ||||||
| Veeva Systems, Cl A (A) |
56 | 12,520 | ||||||
| Vertex Pharmaceuticals (A) |
107 | 30,004 | ||||||
| Viatris, Cl W (A) |
485 | 4,700 | ||||||
| Vifor Pharma |
20 | 3,582 | ||||||
| Waters (A) |
25 | 9,101 | ||||||
| West Pharmaceutical Services |
30 | 10,307 | ||||||
| Zimmer Biomet Holdings |
84 | 9,273 | ||||||
| Zoetis, Cl A |
199 | 36,327 | ||||||
|
|
|
| ||||||
| 2,993,233 | ||||||||
|
|
|
| ||||||
| INDUSTRIALS — 9.8% |
||||||||
| 3M |
244 | 34,951 | ||||||
| A O Smith |
53 | 3,353 | ||||||
| ABB |
710 | 21,584 | ||||||
| ACS Actividades de Construccion y Servicios |
105 | 2,524 | ||||||
| Adecco Group |
62 | 2,184 | ||||||
| Aena SME (A) (B) |
30 | 3,795 | ||||||
| AerCap Holdings (A) |
60 | 2,692 | ||||||
| Aeroports de Paris (A) |
12 | 1,658 | ||||||
| AGC |
100 | 3,645 | ||||||
| Air Canada (A) |
70 | 951 | ||||||
| Airbus |
242 | 26,093 | ||||||
| Alfa Laval |
127 | 3,797 | ||||||
| Allegion |
36 | 3,805 | ||||||
| Alstom |
127 | 3,018 | ||||||
| AMERCO (A) |
4 | 2,148 | ||||||
| The Advisors’ Inner Circle Fund III | LGIM America | |||
| Global Developed Equity Index Fund | ||||
| July 31, 2022 (Unaudited) | ||||
| SCHEDULE OF INVESTMENTS
COMMON STOCK (continued) |
| Shares | Value | |||||||
| INDUSTRIALS (continued) |
||||||||
| AMETEK |
93 | $ | 11,485 | |||||
| ANA Holdings (A) |
100 | 1,867 | ||||||
| AP Moller - Maersk, Cl A |
1 | 2,679 | ||||||
| AP Moller - Maersk, Cl B |
2 | 5,461 | ||||||
| Ashtead Group |
179 | 10,076 | ||||||
| Assa Abloy, Cl B |
418 | 9,876 | ||||||
| Atlantia |
199 | 4,599 | ||||||
| Atlas Copco, Cl A |
1,196 | 13,980 | ||||||
| Atlas Copco, Cl B |
596 | 6,191 | ||||||
| Auckland International Airport (A) |
500 | 2,348 | ||||||
| Aurizon Holdings |
739 | 2,092 | ||||||
| BAE Systems |
1,289 | 12,115 | ||||||
| Boeing (A) |
236 | 37,597 | ||||||
| Booz Allen Hamilton Holding, Cl A |
54 | 5,183 | ||||||
| Bouygues |
92 | 2,781 | ||||||
| Brambles |
578 | 4,652 | ||||||
| Brenntag |
62 | 4,355 | ||||||
| Bunzl |
135 | 5,067 | ||||||
| Bureau Veritas |
118 | 3,255 | ||||||
| CAE (A) |
127 | 3,360 | ||||||
| Canadian National Railway |
253 | 32,052 | ||||||
| Canadian Pacific Railway |
400 | 31,540 | ||||||
| Carrier Global |
364 | 14,753 | ||||||
| Caterpillar |
222 | 44,011 | ||||||
| Central Japan Railway |
100 | 11,710 | ||||||
| CH Robinson Worldwide |
53 | 5,867 | ||||||
| Cie de Saint-Gobain |
225 | 10,492 | ||||||
| Cintas |
38 | 16,169 | ||||||
| CK Hutchison Holdings |
1,000 | 6,633 | ||||||
| Clarivate (A) |
141 | 2,043 | ||||||
| CNH Industrial |
410 | 5,282 | ||||||
| Copart (A) |
97 | 12,426 | ||||||
| CoStar Group (A) |
181 | 13,139 | ||||||
| Credit Agricole |
495 | 4,561 | ||||||
| CSX |
910 | 29,420 | ||||||
| Cummins |
58 | 12,836 | ||||||
| Dai Nippon Printing |
100 | 2,207 | ||||||
| Daikin Industries |
100 | 17,538 | ||||||
| Daimler Truck Holding (A) |
215 | 5,875 | ||||||
| Dassault Aviation |
10 | 1,430 | ||||||
| DCC |
40 | 2,612 | ||||||
| Deere |
120 | 41,182 | ||||||
| Delta Air Lines (A) |
64 | 2,035 | ||||||
| Deutsche Lufthansa (A) |
239 | 1,471 | ||||||
| Deutsche Post |
425 | 16,974 | ||||||
| Dover |
58 | 7,753 | ||||||
| DSV |
81 | 13,648 | ||||||
| East Japan Railway |
100 | 5,221 | ||||||
| Eaton |
170 | 25,227 | ||||||
| The Advisors’ Inner Circle Fund III | LGIM America | |||
| Global Developed Equity Index Fund | ||||
| July 31, 2022 (Unaudited) | ||||
| SCHEDULE OF INVESTMENTS
COMMON STOCK (continued) |
| Shares | Value | |||||||
| INDUSTRIALS (continued) |
||||||||
| Eiffage |
33 | $ | 3,097 | |||||
| Elbit Systems |
11 | 2,538 | ||||||
| Emerson Electric |
256 | 23,058 | ||||||
| Epiroc, Cl A |
400 | 7,073 | ||||||
| Equifax |
49 | 10,237 | ||||||
| Expeditors International of Washington |
68 | 7,225 | ||||||
| Experian |
409 | 14,320 | ||||||
| FANUC |
100 | 17,246 | ||||||
| Fastenal |
234 | 12,018 | ||||||
| FedEx |
109 | 25,407 | ||||||
| Ferguson |
99 | 12,454 | ||||||
| Ferrovial |
196 | 5,248 | ||||||
| Fortive |
136 | 8,765 | ||||||
| Fortune Brands Home & Security |
55 | 3,832 | ||||||
| Fuji Electric |
100 | 4,517 | ||||||
| GEA Group |
61 | 2,277 | ||||||
| Geberit |
16 | 8,427 | ||||||
| Generac Holdings (A) |
25 | 6,707 | ||||||
| General Dynamics |
101 | 22,894 | ||||||
| General Electric |
463 | 34,220 | ||||||
| GFL Environmental |
63 | 1,744 | ||||||
| Grab Holdings, Cl A (A) |
505 | 1,490 | ||||||
| Hankyu Hanshin Holdings |
100 | 2,901 | ||||||
| HEICO, Cl A |
55 | 7,022 | ||||||
| Hitachi |
400 | 20,251 | ||||||
| Honeywell International |
288 | 55,428 | ||||||
| Howmet Aerospace |
155 | 5,755 | ||||||
| Huntington Ingalls Industries |
16 | 3,469 | ||||||
| Husqvarna, Cl B |
169 | 1,347 | ||||||
| IDEX |
30 | 6,263 | ||||||
| Illinois Tool Works |
133 | 27,632 | ||||||
| IMCD |
23 | 3,683 | ||||||
| Indutrade |
114 | 2,679 | ||||||
| Ingersoll Rand |
162 | 8,068 | ||||||
| Intertek Group |
65 | 3,474 | ||||||
| Investment Latour, Cl B |
61 | 1,518 | ||||||
| ITOCHU |
500 | 14,555 | ||||||
| Jacobs Engineering Group |
52 | 7,140 | ||||||
| Japan Airlines (A) |
100 | 1,732 | ||||||
| Jardine Matheson Holdings |
100 | 5,281 | ||||||
| JB Hunt Transport Services |
34 | 6,231 | ||||||
| Johnson Controls International |
289 | 15,580 | ||||||
| Kajima |
200 | 2,283 | ||||||
| Keio |
100 | 3,829 | ||||||
| Keppel |
600 | 2,998 | ||||||
| Kingspan Group |
62 | 4,013 | ||||||
| KION Group |
29 | 1,323 | ||||||
| Knight-Swift Transportation Holdings, Cl A |
63 | 3,462 | ||||||
| Knorr-Bremse |
29 | 1,728 | ||||||
| The Advisors’ Inner Circle Fund III | LGIM America | |||
| Global Developed Equity Index Fund | ||||
| July 31, 2022 (Unaudited) | ||||
| SCHEDULE OF INVESTMENTS
COMMON STOCK (continued) |
| Shares | Value | |||||||
| INDUSTRIALS (continued) |
||||||||
| Komatsu |
400 | $ | 9,247 | |||||
| Kone, Cl B |
136 | 6,215 | ||||||
| Kongsberg Gruppen |
46 | 1,695 | ||||||
| Kornit Digital (A) |
19 | 517 | ||||||
| Kubota |
400 | 6,641 | ||||||
| Kuehne + Nagel International |
22 | 5,925 | ||||||
| Kurita Water Industries |
100 | 4,056 | ||||||
| L3Harris Technologies |
81 | 19,438 | ||||||
| Legrand |
107 | 8,760 | ||||||
| Leidos Holdings |
54 | 5,778 | ||||||
| Lennox International |
13 | 3,114 | ||||||
| Lifco, Cl B |
94 | 1,830 | ||||||
| Lixil |
100 | 2,070 | ||||||
| Lockheed Martin |
102 | 42,209 | ||||||
| Lyft, Cl A (A) |
105 | 1,455 | ||||||
| Magna International |
114 | 7,279 | ||||||
| Makita |
100 | 2,444 | ||||||
| Marubeni |
600 | 5,581 | ||||||
| Masco |
99 | 5,483 | ||||||
| Melrose Industries |
1,750 | 3,445 | ||||||
| MINEBEA MITSUMI |
100 | 1,799 | ||||||
| MISUMI Group |
100 | 2,488 | ||||||
| Mitsubishi |
500 | 14,860 | ||||||
| Mitsubishi Electric |
800 | 8,443 | ||||||
| Mitsubishi Heavy Industries |
100 | 3,713 | ||||||
| Mitsui |
600 | 13,237 | ||||||
| Mitsui OSK Lines |
100 | 2,742 | ||||||
| MonotaRO |
100 | 1,786 | ||||||
| MTR |
500 | 2,648 | ||||||
| MTU Aero Engines |
21 | 4,060 | ||||||
| NGK Insulators |
100 | 1,463 | ||||||
| Nibe Industrier, Cl B |
574 | 5,783 | ||||||
| Nidec |
200 | 13,899 | ||||||
| Nihon M&A Center Holdings |
100 | 1,338 | ||||||
| Nippon Yusen |
100 | 7,855 | ||||||
| Nordson |
21 | 4,851 | ||||||
| Norfolk Southern |
99 | 24,866 | ||||||
| Northrop Grumman |
62 | 29,692 | ||||||
| Obayashi |
300 | 2,206 | ||||||
| Odakyu Electric Railway |
100 | 1,434 | ||||||
| Old Dominion Freight Line |
39 | 11,837 | ||||||
| Otis Worldwide |
191 | 14,930 | ||||||
| Owens Corning |
41 | 3,802 | ||||||
| PACCAR |
155 | 14,186 | ||||||
| Parker-Hannifin |
58 | 16,767 | ||||||
| Pentair |
66 | 3,227 | ||||||
| Persol Holdings |
100 | 2,070 | ||||||
| Plug Power (A) |
207 | 4,417 | ||||||
| Prysmian |
102 | 3,243 | ||||||
| The Advisors’ Inner Circle Fund III | LGIM America | |||
| Global Developed Equity Index Fund | ||||
| July 31, 2022 (Unaudited) | ||||
| SCHEDULE OF INVESTMENTS
COMMON STOCK (continued) |
| Shares | Value | |||||||
| INDUSTRIALS (continued) |
||||||||
| Qantas Airways (A) |
368 | $ | 1,186 | |||||
| Quanta Services |
65 | 9,017 | ||||||
| Randstad |
48 | 2,426 | ||||||
| Rational |
2 | 1,394 | ||||||
| Raytheon Technologies |
613 | 57,138 | ||||||
| Recruit Holdings |
600 | 22,424 | ||||||
| Reece |
117 | 1,264 | ||||||
| RELX |
825 | 24,428 | ||||||
| Rentokil Initial |
745 | 4,919 | ||||||
| Republic Services, Cl A |
89 | 12,341 | ||||||
| Rheinmetall |
19 | 3,484 | ||||||
| Ritchie Bros Auctioneers |
44 | 3,171 | ||||||
| Robert Half International |
45 | 3,561 | ||||||
| Rockwell Automation |
47 | 11,998 | ||||||
| ROCKWOOL, Cl B |
3 | 743 | ||||||
| Rollins |
89 | 3,433 | ||||||
| Rolls-Royce Holdings (A) |
3,352 | 3,664 | ||||||
| Safran |
149 | 16,377 | ||||||
| Schindler Holding |
24 | 4,646 | ||||||
| Schneider Electric |
228 | 31,533 | ||||||
| Secom |
100 | 6,679 | ||||||
| Securitas, Cl B |
129 | 1,304 | ||||||
| Sensata Technologies Holding |
63 | 2,802 | ||||||
| SG Holdings |
100 | 1,908 | ||||||
| SGS |
3 | 7,321 | ||||||
| Shimizu |
200 | 1,134 | ||||||
| Siemens |
319 | 35,582 | ||||||
| Siemens Energy |
160 | 2,659 | ||||||
| Siemens Gamesa Renewable Energy (A) |
96 | 1,766 | ||||||
| Singapore Airlines (A) |
500 | 1,978 | ||||||
| Singapore Technologies Engineering |
600 | 1,749 | ||||||
| SITC International Holdings |
1,000 | 3,405 | ||||||
| Skanska, Cl B |
138 | 2,354 | ||||||
| SKF, Cl B |
154 | 2,592 | ||||||
| Smiths Group |
159 | 3,001 | ||||||
| Snap-on |
22 | 4,929 | ||||||
| Southwest Airlines (A) |
59 | 2,249 | ||||||
| Spirax-Sarco Engineering |
30 | 4,377 | ||||||
| Stanley Black & Decker |
65 | 6,326 | ||||||
| Sumitomo |
500 | 7,030 | ||||||
| Taisei |
100 | 3,191 | ||||||
| Techtronic Industries |
500 | 5,548 | ||||||
| Teleperformance |
24 | 8,026 | ||||||
| Textron |
90 | 5,908 | ||||||
| TFI International |
34 | 3,396 | ||||||
| Thales |
43 | 5,347 | ||||||
| Thomson Reuters |
70 | 7,860 | ||||||
| Tobu Railway |
100 | 2,374 | ||||||
| Tokyu |
200 | 2,452 | ||||||
| The Advisors’ Inner Circle Fund III | LGIM America | |||
| Global Developed Equity Index Fund | ||||
| July 31, 2022 (Unaudited) | ||||
| SCHEDULE OF INVESTMENTS
COMMON STOCK (continued) |
| Shares | Value | |||||||
| INDUSTRIALS (continued) |
||||||||
| TOPPAN INC |
100 | $ | 1,702 | |||||
| Toromont Industries |
33 | 2,779 | ||||||
| Toshiba |
200 | 8,114 | ||||||
| TOTO |
100 | 3,406 | ||||||
| Toyota Industries |
100 | 6,089 | ||||||
| Toyota Tsusho |
100 | 3,413 | ||||||
| Trane Technologies |
96 | 14,111 | ||||||
| TransDigm Group (A) |
23 | 14,314 | ||||||
| TransUnion |
77 | 6,101 | ||||||
| Transurban Group |
1,383 | 14,137 | ||||||
| Uber Technologies (A) |
613 | 14,375 | ||||||
| Union Pacific |
269 | 61,144 | ||||||
| United Parcel Service, Cl B |
302 | 58,857 | ||||||
| United Rentals (A) |
29 | 9,357 | ||||||
| VAT Group (B) |
11 | 3,203 | ||||||
| Verisk Analytics, Cl A |
71 | 13,508 | ||||||
| Vestas Wind Systems |
405 | 10,645 | ||||||
| Vinci |
223 | 21,376 | ||||||
| Volvo, Cl A |
85 | 1,584 | ||||||
| Volvo, Cl B |
641 | 11,509 | ||||||
| Wartsila Abp |
190 | 1,669 | ||||||
| Washington H Soul Pattinson |
87 | 1,575 | ||||||
| Waste Connections |
108 | 14,404 | ||||||
| Waste Management |
170 | 27,975 | ||||||
| West Japan Railway |
100 | 3,673 | ||||||
| Westinghouse Air Brake Technologies |
72 | 6,730 | ||||||
| Wolters Kluwer |
107 | 11,620 | ||||||
| WSP Global |
47 | 5,671 | ||||||
| WW Grainger |
21 | 11,414 | ||||||
| Xinyi Glass Holdings |
1,000 | 1,972 | ||||||
| Xylem |
72 | 6,626 | ||||||
| Yamato Holdings |
100 | 1,750 | ||||||
| Yaskawa Electric |
100 | 3,502 | ||||||
| ZIM Integrated Shipping Services |
37 | 1,843 | ||||||
|
|
|
| ||||||
| 2,227,129 | ||||||||
|
|
|
| ||||||
| INFORMATION TECHNOLOGY — 21.9% |
||||||||
| Accenture, Cl A |
261 | 79,934 | ||||||
| Adobe (A) |
198 | 81,204 | ||||||
| Advanced Micro Devices (A) |
692 | 65,337 | ||||||
| Advantest |
100 | 5,948 | ||||||
| Adyen (A) |
9 | 16,189 | ||||||
| Affirm Holdings, Cl A (A) |
75 | 2,013 | ||||||
| Akamai Technologies (A) |
65 | 6,254 | ||||||
| Amadeus IT Group (A) |
180 | 10,496 | ||||||
| Amphenol, Cl A |
260 | 20,054 | ||||||
| Analog Devices |
216 | 37,143 | ||||||
| ANSYS (A) |
35 | 9,765 | ||||||
| Apple |
6,818 | 1,107,993 | ||||||
| The Advisors’ Inner Circle Fund III | LGIM America | |||
| Global Developed Equity Index Fund | ||||
| July 31, 2022 (Unaudited) | ||||
| SCHEDULE OF INVESTMENTS
COMMON STOCK (continued) |
| Shares | Value | |||||||
| INFORMATION TECHNOLOGY (continued) |
||||||||
| Applied Materials |
364 | $ | 38,577 | |||||
| AppLovin, Cl A (A) |
57 | 2,026 | ||||||
| Arista Networks (A) |
111 | 12,946 | ||||||
| Arrow Electronics (A) |
29 | 3,717 | ||||||
| ASML Holding |
168 | 96,559 | ||||||
| Assicurazioni Generali |
444 | 6,638 | ||||||
| Autodesk (A) |
89 | 19,252 | ||||||
| Automatic Data Processing |
179 | 43,160 | ||||||
| Avalara (A) |
35 | 3,060 | ||||||
| AVEVA Group |
48 | 1,389 | ||||||
| Bechtle |
33 | 1,526 | ||||||
| Bentley Systems, Cl B |
70 | 2,772 | ||||||
| Bill.com Holdings (A) |
44 | 5,944 | ||||||
| Black Knight (A) |
63 | 4,138 | ||||||
| BlackBerry (A) |
216 | 1,328 | ||||||
| Block (A) |
32 | 2,470 | ||||||
| Block, Cl A (A) |
187 | 14,223 | ||||||
| Broadcom |
171 | 91,567 | ||||||
| Broadridge Financial Solutions |
47 | 7,546 | ||||||
| Brother Industries |
100 | 1,873 | ||||||
| Cadence Design Systems (A) |
113 | 21,027 | ||||||
| Canon |
400 | 9,463 | ||||||
| Capgemini |
71 | 13,542 | ||||||
| CDW |
55 | 9,984 | ||||||
| Ceridian HCM Holding (A) |
54 | 2,958 | ||||||
| CGI, Cl A (A) |
88 | 7,546 | ||||||
| Check Point Software Technologies (A) |
43 | 5,358 | ||||||
| Cisco Systems |
1,728 | 78,399 | ||||||
| Citrix Systems (A) |
50 | 5,071 | ||||||
| Cloudflare, Cl A (A) |
112 | 5,636 | ||||||
| Cognex |
71 | 3,620 | ||||||
| Cognizant Technology Solutions, Cl A |
218 | 14,815 | ||||||
| Computershare |
218 | 3,852 | ||||||
| Constellation Software |
9 | 15,310 | ||||||
| Corning |
361 | 13,270 | ||||||
| Coupa Software (A) |
29 | 1,897 | ||||||
| Crowdstrike Holdings, Cl A (A) |
85 | 15,606 | ||||||
| CyberArk Software (A) |
16 | 2,082 | ||||||
| Dassault Systemes |
264 | 11,323 | ||||||
| Datadog, Cl A (A) |
94 | 9,589 | ||||||
| Dell Technologies, Cl C |
137 | 6,173 | ||||||
| DocuSign, Cl A (A) |
78 | 4,990 | ||||||
| Dropbox, Cl A (A) |
126 | 2,865 | ||||||
| Dynatrace (A) |
74 | 2,785 | ||||||
| Edenred |
100 | 5,133 | ||||||
| Enphase Energy (A) |
60 | 17,051 | ||||||
| Entegris |
54 | 5,935 | ||||||
| EPAM Systems (A) |
23 | 8,033 | ||||||
| F5 (A) |
24 | 4,017 | ||||||
| The Advisors’ Inner Circle Fund III | LGIM America | |||
| Global Developed Equity Index Fund | ||||
| July 31, 2022 (Unaudited) | ||||
| SCHEDULE OF INVESTMENTS
COMMON STOCK (continued) |
| Shares | Value | |||||||
| INFORMATION TECHNOLOGY (continued) |
||||||||
| Fair Isaac (A) |
11 | $ | 5,082 | |||||
| Fidelity National Information Services |
251 | 25,642 | ||||||
| Fiserv (A) |
265 | 28,005 | ||||||
| FleetCor Technologies (A) |
31 | 6,823 | ||||||
| Fortinet (A) |
280 | 16,702 | ||||||
| FUJIFILM Holdings |
200 | 11,424 | ||||||
| Fujitsu |
100 | 13,406 | ||||||
| Gartner (A) |
34 | 9,026 | ||||||
| Getlink |
176 | 3,523 | ||||||
| Global Payments |
118 | 14,434 | ||||||
| GoDaddy, Cl A (A) |
68 | 5,044 | ||||||
| Guidewire Software (A) |
32 | 2,487 | ||||||
| Halma |
152 | 4,281 | ||||||
| Hamamatsu Photonics |
100 | 4,544 | ||||||
| Hewlett Packard Enterprise |
523 | 7,448 | ||||||
| Hexagon, Cl B |
793 | 9,337 | ||||||
| HP |
450 | 15,026 | ||||||
| HubSpot (A) |
18 | 5,544 | ||||||
| Ibiden |
100 | 2,951 | ||||||
| Infineon Technologies |
566 | 15,522 | ||||||
| Intel |
1,700 | 61,727 | ||||||
| International Business Machines |
375 | 49,046 | ||||||
| Intuit |
111 | 50,635 | ||||||
| Jack Henry & Associates |
30 | 6,233 | ||||||
| Juniper Networks |
131 | 3,672 | ||||||
| Keyence |
100 | 39,634 | ||||||
| Keysight Technologies (A) |
83 | 13,496 | ||||||
| KLA |
65 | 24,930 | ||||||
| Kyocera |
100 | 5,559 | ||||||
| Lam Research |
57 | 28,529 | ||||||
| Lightspeed Commerce (A) |
43 | 923 | ||||||
| Logitech International |
69 | 3,882 | ||||||
| Marvell Technology |
352 | 19,599 | ||||||
| Mastercard, Cl A |
366 | 129,487 | ||||||
| Microchip Technology |
241 | 16,595 | ||||||
| Micron Technology |
468 | 28,951 | ||||||
| Microsoft |
2,979 | 836,324 | ||||||
| MongoDB, Cl A (A) |
27 | 8,437 | ||||||
| Monolithic Power Systems |
18 | 8,365 | ||||||
| Motorola Solutions |
77 | 18,371 | ||||||
| Murata Manufacturing |
200 | 11,682 | ||||||
| National Bank of Canada |
135 | 9,472 | ||||||
| NEC |
100 | 3,691 | ||||||
| Nemetschek |
23 | 1,540 | ||||||
| NetApp |
90 | 6,420 | ||||||
| Nexi (A) (B) |
187 | 1,698 | ||||||
| Nice (A) |
25 | 5,337 | ||||||
| Nokia |
2,161 | 11,256 | ||||||
| Nomura Research Institute |
200 | 6,009 | ||||||
| The Advisors’ Inner Circle Fund III | LGIM America | |||
| Global Developed Equity Index Fund | ||||
| July 31, 2022 (Unaudited) | ||||
| SCHEDULE OF INVESTMENTS
COMMON STOCK (continued) |
| Shares | Value | |||||||
| INFORMATION TECHNOLOGY (continued) |
||||||||
| NortonLifeLock |
233 | $ | 5,716 | |||||
| NTT Data |
300 | 4,540 | ||||||
| Nuvei (A) (B) |
23 | 804 | ||||||
| NVIDIA |
1,042 | 189,258 | ||||||
| NXP Semiconductors |
106 | 19,491 | ||||||
| Okta, Cl A (A) |
65 | 6,399 | ||||||
| Omron |
100 | 5,593 | ||||||
| ON Semiconductor (A) |
173 | 11,553 | ||||||
| Open Text |
109 | 4,459 | ||||||
| Oracle |
673 | 52,386 | ||||||
| Otsuka |
100 | 3,119 | ||||||
| Palantir Technologies, Cl A (A) |
636 | 6,583 | ||||||
| Palo Alto Networks (A) |
40 | 19,964 | ||||||
| Paychex |
143 | 18,344 | ||||||
| Paycom Software (A) |
20 | 6,610 | ||||||
| PayPal Holdings (A) |
466 | 40,323 | ||||||
| PTC (A) |
45 | 5,552 | ||||||
| Qorvo (A) |
45 | 4,683 | ||||||
| QUALCOMM |
477 | 69,194 | ||||||
| Renesas Electronics (A) |
500 | 4,762 | ||||||
| Ricoh |
300 | 2,413 | ||||||
| RingCentral, Cl A (A) |
31 | 1,534 | ||||||
| Roper Technologies |
46 | 20,087 | ||||||
| Sage Group |
422 | 3,637 | ||||||
| Salesforce (A) |
417 | 76,736 | ||||||
| SAP |
435 | 40,573 | ||||||
| Saputo |
100 | 2,470 | ||||||
| SCSK |
100 | 1,761 | ||||||
| Seagate Technology Holdings |
82 | 6,558 | ||||||
| Seiko Epson |
100 | 1,502 | ||||||
| ServiceNow (A) |
84 | 37,519 | ||||||
| Shimadzu |
100 | 3,558 | ||||||
| Shopify, Cl A (A) |
470 | 16,373 | ||||||
| Sinch (A) (B) |
210 | 532 | ||||||
| Skyworks Solutions |
66 | 7,186 | ||||||
| Snowflake, Cl A (A) |
90 | 13,492 | ||||||
| SolarEdge Technologies (A) |
21 | 7,563 | ||||||
| Splunk (A) |
66 | 6,858 | ||||||
| SS&C Technologies Holdings |
92 | 5,444 | ||||||
| STMicroelectronics |
274 | 10,370 | ||||||
| SUMCO |
100 | 1,399 | ||||||
| Synopsys (A) |
63 | 23,153 | ||||||
| TDK |
200 | 6,299 | ||||||
| TE Connectivity |
141 | 18,856 | ||||||
| Teledyne Technologies (A) |
19 | 7,437 | ||||||
| Telefonaktiebolaget LM Ericsson, Cl B |
1,173 | 8,922 | ||||||
| Temenos |
27 | 2,143 | ||||||
| Teradyne |
66 | 6,659 | ||||||
| Texas Instruments |
384 | 68,694 | ||||||
| The Advisors’ Inner Circle Fund III | LGIM America | |||
| Global Developed Equity Index Fund | ||||
| July 31, 2022 (Unaudited) | ||||
| SCHEDULE OF INVESTMENTS
COMMON STOCK (continued) |
| Shares | Value | |||||||
| INFORMATION TECHNOLOGY (continued) |
||||||||
| TIS |
100 | $ | 2,835 | |||||
| Tokyo Electron |
100 | 34,419 | ||||||
| Tower Semiconductor (A) |
50 | 2,383 | ||||||
| Trade Desk, Cl A (A) |
174 | 7,830 | ||||||
| Trend Micro (A) |
100 | 5,811 | ||||||
| Trimble (A) |
101 | 7,012 | ||||||
| Twilio, Cl A (A) |
67 | 5,682 | ||||||
| Tyler Technologies (A) |
16 | 6,384 | ||||||
| Unity Software (A) |
88 | 3,290 | ||||||
| Venture |
100 | 1,274 | ||||||
| VeriSign (A) |
40 | 7,566 | ||||||
| Visa, Cl A |
693 | 146,992 | ||||||
| VMware, Cl A (A) |
84 | 9,761 | ||||||
| Western Digital (A) |
124 | 6,088 | ||||||
| Western Union |
163 | 2,774 | ||||||
| WiseTech Global |
59 | 2,089 | ||||||
| Wix.com (A) |
22 | 1,305 | ||||||
| Workday, Cl A (A) |
87 | 13,494 | ||||||
| Worldline (A) (B) |
96 | 4,237 | ||||||
| Xero (A) |
54 | 3,557 | ||||||
| Yokogawa Electric |
100 | 1,773 | ||||||
| Zebra Technologies, Cl A (A) |
25 | 8,942 | ||||||
| Zendesk (A) |
48 | 3,620 | ||||||
| Zoom Video Communications, Cl A (A) |
87 | 9,036 | ||||||
| Zscaler (A) |
33 | 5,117 | ||||||
|
|
|
| ||||||
| 4,920,454 | ||||||||
|
|
|
| ||||||
| MATERIALS — 4.4% |
||||||||
| Agnico Eagle Mines |
211 | 9,072 | ||||||
| Air Liquide |
222 | 30,521 | ||||||
| Air Products and Chemicals |
90 | 22,341 | ||||||
| Akzo Nobel |
75 | 5,048 | ||||||
| Albemarle |
47 | 11,483 | ||||||
| Alcoa |
78 | 3,969 | ||||||
| Amcor |
616 | 7,977 | ||||||
| Anglo American |
528 | 19,085 | ||||||
| Antofagasta |
158 | 2,248 | ||||||
| ArcelorMittal |
269 | 6,637 | ||||||
| Arkema |
25 | 2,368 | ||||||
| Asahi Kasei |
500 | 4,011 | ||||||
| ASM International |
19 | 5,836 | ||||||
| Avery Dennison |
33 | 6,285 | ||||||
| Ball |
131 | 9,618 | ||||||
| Barrick Gold |
778 | 12,260 | ||||||
| BASF |
398 | 17,737 | ||||||
| BHP Group |
2,101 | 57,758 | ||||||
| BlueScope Steel |
202 | 2,373 | ||||||
| Boliden |
110 | 3,676 | ||||||
| CCL Industries, Cl B |
61 | 3,064 | ||||||
| The Advisors’ Inner Circle Fund III | LGIM America | |||
| Global Developed Equity Index Fund | ||||
| July 31, 2022 (Unaudited) | ||||
| SCHEDULE OF INVESTMENTS
COMMON STOCK (continued) |
| Shares | Value | |||||||
| MATERIALS (continued) |
||||||||
| Celanese, Cl A |
45 | $ | 5,288 | |||||
| CF Industries Holdings |
86 | 8,212 | ||||||
| Chr Hansen Holding |
42 | 2,749 | ||||||
| Clariant |
87 | 1,630 | ||||||
| Cleveland-Cliffs (A) |
221 | 3,914 | ||||||
| Corteva |
294 | 16,920 | ||||||
| Covestro (B) |
77 | 2,597 | ||||||
| CRH |
343 | 13,162 | ||||||
| Croda International |
56 | 5,121 | ||||||
| Crown Holdings |
53 | 5,389 | ||||||
| Dow |
302 | 16,069 | ||||||
| DuPont de Nemours |
206 | 12,613 | ||||||
| Eastman Chemical |
54 | 5,180 | ||||||
| Ecolab |
111 | 18,334 | ||||||
| EMS-Chemie Holding |
3 | 2,382 | ||||||
| Evolution Mining |
734 | 1,356 | ||||||
| Evonik Industries |
84 | 1,792 | ||||||
| First Quantum Minerals |
235 | 4,294 | ||||||
| FMC |
52 | 5,777 | ||||||
| Fortescue Metals Group |
678 | 8,725 | ||||||
| Franco-Nevada |
77 | 9,860 | ||||||
| Freeport-McMoRan |
623 | 19,656 | ||||||
| Givaudan |
4 | 13,982 | ||||||
| Glencore |
4,033 | 22,858 | ||||||
| HeidelbergCement |
60 | 3,056 | ||||||
| Hitachi Metals (A) |
100 | 1,538 | ||||||
| Holcim |
249 | 11,675 | ||||||
| Holmen, Cl B |
53 | 2,178 | ||||||
| ICL Group |
283 | 2,579 | ||||||
| International Flavors & Fragrances |
111 | 13,770 | ||||||
| International Paper |
149 | 6,373 | ||||||
| Ivanhoe Mines, Cl A (A) |
242 | 1,504 | ||||||
| James Hardie Industries |
178 | 4,396 | ||||||
| JFE Holdings |
200 | 2,255 | ||||||
| Johnson Matthey |
78 | 2,039 | ||||||
| JSR |
100 | 2,770 | ||||||
| Kinross Gold |
506 | 1,735 | ||||||
| Koninklijke DSM |
78 | 12,492 | ||||||
| Linde |
213 | 64,326 | ||||||
| L’Oreal |
100 | 37,806 | ||||||
| Lundin Mining |
265 | 1,494 | ||||||
| LyondellBasell Industries, Cl A |
107 | 9,536 | ||||||
| Martin Marietta Materials |
25 | 8,802 | ||||||
| Mineral Resources |
79 | 3,010 | ||||||
| Mitsubishi Chemical Group |
500 | 2,812 | ||||||
| Mitsui Chemicals |
100 | 2,106 | ||||||
| Mondi |
194 | 3,682 | ||||||
| Mosaic |
148 | 7,794 | ||||||
| Newcrest Mining |
372 | 5,013 | ||||||
| The Advisors’ Inner Circle Fund III | LGIM America | |||
| Global Developed Equity Index Fund | ||||
| July 31, 2022 (Unaudited) | ||||
| SCHEDULE OF INVESTMENTS
COMMON STOCK (continued) |
| Shares | Value | |||||||
| MATERIALS (continued) |
||||||||
| Newmont |
342 | $ | 15,486 | |||||
| Nippon Paint Holdings |
300 | 2,293 | ||||||
| Nippon Sanso Holdings |
100 | 1,686 | ||||||
| Nippon Steel |
300 | 4,464 | ||||||
| Nissan Chemical |
100 | 5,113 | ||||||
| Nitto Denko |
100 | 6,440 | ||||||
| Norsk Hydro |
539 | 3,652 | ||||||
| Northern Star Resources |
443 | 2,435 | ||||||
| Novozymes, Cl B |
82 | 5,238 | ||||||
| Nucor |
118 | 16,024 | ||||||
| Nutrien |
232 | 19,860 | ||||||
| OCI |
49 | 1,701 | ||||||
| Oji Holdings |
300 | 1,251 | ||||||
| Orica |
163 | 1,932 | ||||||
| Packaging Corp of America |
38 | 5,343 | ||||||
| Pan American Silver |
84 | 1,709 | ||||||
| PPG Industries |
105 | 13,575 | ||||||
| Rio Tinto |
621 | 38,969 | ||||||
| RPM International |
52 | 4,701 | ||||||
| Sandvik |
438 | 8,071 | ||||||
| Sealed Air |
60 | 3,667 | ||||||
| Sherwin-Williams |
106 | 25,646 | ||||||
| Shin-Etsu Chemical |
200 | 25,619 | ||||||
| Sika |
62 | 15,320 | ||||||
| Smurfit Kappa Group |
99 | 3,588 | ||||||
| Solvay |
30 | 2,635 | ||||||
| South32 |
1,872 | 5,102 | ||||||
| Steel Dynamics |
82 | 6,386 | ||||||
| Stora Enso, Cl R |
233 | 3,603 | ||||||
| Sumitomo Chemical |
600 | 2,358 | ||||||
| Sumitomo Metal Mining |
100 | 3,144 | ||||||
| Svenska Cellulosa SCA, Cl B |
246 | 3,596 | ||||||
| Symrise, Cl A |
52 | 6,068 | ||||||
| Teck Resources, Cl B |
189 | 5,557 | ||||||
| TMX Group |
23 | 2,360 | ||||||
| Toray Industries |
600 | 3,286 | ||||||
| Tosoh |
100 | 1,303 | ||||||
| Umicore |
79 | 2,862 | ||||||
| UPM-Kymmene |
214 | 6,781 | ||||||
| voestalpine |
47 | 1,058 | ||||||
| Vulcan Materials |
61 | 10,085 | ||||||
| West Fraser Timber |
38 | 3,558 | ||||||
| Westlake |
19 | 1,849 | ||||||
| Westrock |
107 | 4,533 | ||||||
| Wheaton Precious Metals |
180 | 6,176 | ||||||
| The Advisors’ Inner Circle Fund III | LGIM America | |||
| Global Developed Equity Index Fund | ||||
| July 31, 2022 (Unaudited) | ||||
| SCHEDULE OF INVESTMENTS
COMMON STOCK (continued) |
| Shares | Value | |||||||
| MATERIALS (continued) |
||||||||
| Yara International |
66 | $ | 2,813 | |||||
|
|
|
| ||||||
| 984,864 | ||||||||
|
|
|
| ||||||
| REAL ESTATE — 2.9% |
||||||||
| Alexandria Real Estate Equities ‡ |
72 | 11,936 | ||||||
| American Homes 4 Rent, Cl A ‡ |
162 | 6,137 | ||||||
| American Tower ‡ |
189 | 51,187 | ||||||
| Aroundtown |
400 | 1,283 | ||||||
| Ascendas Real Estate Investment Trust ‡ |
1,300 | 2,798 | ||||||
| AvalonBay Communities ‡ |
62 | 13,264 | ||||||
| Azrieli Group |
17 | 1,363 | ||||||
| Boston Properties ‡ |
59 | 5,379 | ||||||
| British Land ‡ |
353 | 2,122 | ||||||
| Camden Property Trust ‡ |
40 | 5,644 | ||||||
| Canadian Apartment Properties REIT ‡ |
34 | 1,288 | ||||||
| CapitaLand Integrated Commercial Trust ‡ |
1,900 | 3,001 | ||||||
| Capitaland Investment |
1,100 | 3,130 | ||||||
| CBRE Group, Cl A (A) |
135 | 11,559 | ||||||
| City Developments |
200 | 1,124 | ||||||
| CK Asset Holdings |
1,000 | 7,080 | ||||||
| Covivio ‡ |
21 | 1,328 | ||||||
| Crown Castle ‡ |
183 | 33,061 | ||||||
| Daiwa House Industry |
200 | 4,942 | ||||||
| Daiwa House REIT Investment ‡ |
1 | 2,407 | ||||||
| Dexus ‡ |
431 | 2,896 | ||||||
| Digital Realty Trust ‡ |
125 | 16,556 | ||||||
| Duke Realty ‡ |
152 | 9,509 | ||||||
| Equinix ‡ |
37 | 26,038 | ||||||
| Equity LifeStyle Properties ‡ |
70 | 5,146 | ||||||
| Equity Residential ‡ |
161 | 12,621 | ||||||
| ESR Group (A) (B) |
800 | 2,080 | ||||||
| Essex Property Trust ‡ |
26 | 7,450 | ||||||
| Extra Space Storage ‡ |
54 | 10,234 | ||||||
| Fastighets Balder, Cl B (A) |
258 | 1,648 | ||||||
| FirstService |
16 | 2,141 | ||||||
| Gecina ‡ |
18 | 1,846 | ||||||
| GLP J-Reit ‡ |
2 | 2,630 | ||||||
| Goodman Group ‡ |
757 | 11,079 | ||||||
| GPT Group ‡ |
767 | 2,468 | ||||||
| Hang Lung Properties |
1,000 | 1,825 | ||||||
| Healthcare Realty Trust, Cl A ‡ |
160 | 4,200 | ||||||
| Healthpeak Properties ‡ |
216 | 5,968 | ||||||
| Henderson Land Development |
1,000 | 3,481 | ||||||
| Hongkong Land Holdings |
500 | 2,510 | ||||||
| Host Hotels & Resorts ‡ |
286 | 5,094 | ||||||
| Hulic |
200 | 1,604 | ||||||
| Invitation Homes ‡ |
270 | 10,538 | ||||||
| Iron Mountain ‡ |
116 | 5,625 | ||||||
| Japan Metropolitan Fund Invest ‡ |
3 | 2,445 | ||||||
| The Advisors’ Inner Circle Fund III | LGIM America | |||
| Global Developed Equity Index Fund | ||||
| July 31, 2022 (Unaudited) | ||||
| SCHEDULE OF INVESTMENTS
COMMON STOCK (continued) |
| Shares | Value | |||||||
| REAL ESTATE (continued) |
||||||||
| Kimco Realty ‡ |
272 | $ | 6,014 | |||||
| Land Securities Group ‡ |
282 | 2,520 | ||||||
| LEG Immobilien |
29 | 2,635 | ||||||
| Lendlease |
276 | 2,000 | ||||||
| Link REIT ‡ |
1,000 | 8,374 | ||||||
| Mapletree Logistics Trust ‡ |
1,300 | 1,659 | ||||||
| Mapletree Pan Asia Commercial ‡ |
900 | 1,240 | ||||||
| Medical Properties Trust ‡ |
239 | 4,120 | ||||||
| Mid-America Apartment Communities ‡ |
47 | 8,729 | ||||||
| Mirvac Group ‡ |
1,578 | 2,391 | ||||||
| Mitsubishi Estate |
500 | 7,426 | ||||||
| Mitsui Fudosan |
400 | 8,940 | ||||||
| New World Development |
1,000 | 3,344 | ||||||
| Nippon Building Fund ‡ |
1 | 5,305 | ||||||
| Nippon Prologis REIT ‡ |
1 | 2,601 | ||||||
| Nomura Real Estate Holdings |
100 | 2,426 | ||||||
| Nomura Real Estate Master Fund ‡ |
2 | 2,506 | ||||||
| Prologis ‡ |
309 | 40,961 | ||||||
| Public Storage ‡ |
65 | 21,217 | ||||||
| Realty Income ‡ |
262 | 19,385 | ||||||
| Regency Centers ‡ |
61 | 3,930 | ||||||
| RioCan Real Estate Investment Trust ‡ |
62 | 995 | ||||||
| Sagax, Cl B |
65 | 1,675 | ||||||
| SBA Communications, Cl A ‡ |
44 | 14,775 | ||||||
| Scentre Group ‡ |
2,078 | 4,258 | ||||||
| Segro ‡ |
485 | 6,488 | ||||||
| Simon Property Group ‡ |
143 | 15,536 | ||||||
| Sino Land |
2,000 | 2,972 | ||||||
| Stockland ‡ |
955 | 2,588 | ||||||
| Sumitomo Realty & Development |
100 | 2,761 | ||||||
| Sun Communities ‡ |
46 | 7,542 | ||||||
| Sun Hung Kai Properties |
500 | 5,969 | ||||||
| Swire Properties |
400 | 953 | ||||||
| Swiss Prime Site |
31 | 2,823 | ||||||
| UDR ‡ |
119 | 5,760 | ||||||
| Unibail-Rodamco-Westfield ‡,(A) |
50 | 2,839 | ||||||
| UOL Group |
200 | 1,081 | ||||||
| Ventas ‡ |
186 | 10,003 | ||||||
| VICI Properties ‡ |
406 | 13,881 | ||||||
| Vicinity Centres ‡ |
1,548 | 2,265 | ||||||
| Vonovia |
283 | 9,430 | ||||||
| Vornado Realty Trust ‡ |
65 | 1,975 | ||||||
| Warehouses De Pauw CVA ‡ |
82 | 2,787 | ||||||
| Welltower ‡ |
187 | 16,146 | ||||||
| Weyerhaeuser ‡ |
298 | 10,823 | ||||||
| Wharf Real Estate Investment |
1,000 | 4,451 | ||||||
| WP Carey ‡ |
74 | 6,608 | ||||||
| The Advisors’ Inner Circle Fund III | LGIM America | |||
| Global Developed Equity Index Fund | ||||
| July 31, 2022 (Unaudited) | ||||
| SCHEDULE OF INVESTMENTS
COMMON STOCK (continued) |
| Shares | Value | |||||||
| REAL ESTATE (continued) |
||||||||
| Zillow Group, Cl C (A) |
59 | $ | 2,058 | |||||
|
|
|
| ||||||
| 644,830 | ||||||||
|
|
|
| ||||||
| UTILITIES — 2.9% |
||||||||
| Acciona |
15 | 3,087 | ||||||
| AES |
267 | 5,933 | ||||||
| Algonquin Power & Utilities |
269 | 3,762 | ||||||
| Alliant Energy |
100 | 6,093 | ||||||
| AltaGas |
112 | 2,495 | ||||||
| Ameren |
103 | 9,591 | ||||||
| American Electric Power |
222 | 21,880 | ||||||
| American Water Works |
73 | 11,347 | ||||||
| APA Group |
473 | 3,878 | ||||||
| Atmos Energy |
53 | 6,434 | ||||||
| Brookfield Renewable, Cl A |
52 | 2,034 | ||||||
| Canadian Utilities, Cl A |
51 | 1,651 | ||||||
| CenterPoint Energy |
285 | 9,032 | ||||||
| Chubu Electric Power |
300 | 3,200 | ||||||
| CLP Holdings |
500 | 4,240 | ||||||
| CMS Energy |
116 | 7,973 | ||||||
| Consolidated Edison |
142 | 14,096 | ||||||
| Constellation Energy |
143 | 9,452 | ||||||
| Dominion Energy |
350 | 28,693 | ||||||
| DTE Energy |
78 | 10,163 | ||||||
| Duke Energy |
327 | 35,947 | ||||||
| E.ON |
1,009 | 9,070 | ||||||
| Edison International |
152 | 10,301 | ||||||
| EDP - Energias de Portugal |
1,108 | 5,605 | ||||||
| EDP Renovaveis |
115 | 2,991 | ||||||
| Electricite de France |
228 | 2,769 | ||||||
| Elia Group |
12 | 1,822 | ||||||
| Emera |
103 | 4,883 | ||||||
| Enagas |
100 | 1,974 | ||||||
| Endesa |
127 | 2,328 | ||||||
| Enel |
3,525 | 17,770 | ||||||
| Engie |
825 | 10,207 | ||||||
| Entergy |
81 | 9,326 | ||||||
| Essential Utilities |
94 | 4,882 | ||||||
| Evergy |
92 | 6,280 | ||||||
| Eversource Energy |
142 | 12,527 | ||||||
| Exelon |
430 | 19,991 | ||||||
| FirstEnergy |
218 | 8,960 | ||||||
| Fortis |
193 | 9,117 | ||||||
| Fortum |
178 | 1,998 | ||||||
| HK Electric Investments & HK Electric Investments |
1,000 | 905 | ||||||
| Hong Kong & China Gas |
5,000 | 5,281 | ||||||
| Iberdrola |
2,393 | 25,553 | ||||||
| Kansai Electric Power (A) |
300 | 3,042 | ||||||
| Mercury NZ |
275 | 1,052 | ||||||
| The Advisors’ Inner Circle Fund III | LGIM America | |||
| Global Developed Equity Index Fund | ||||
| July 31, 2022 (Unaudited) | ||||
| SCHEDULE OF INVESTMENTS
COMMON STOCK (continued) |
| Shares | Value | |||||||
| UTILITIES (continued) |
||||||||
| Meridian Energy |
513 | $ | 1,610 | |||||
| National Grid |
1,551 | 21,357 | ||||||
| Naturgy Energy Group |
78 | 2,288 | ||||||
| NextEra Energy |
828 | 69,958 | ||||||
| NiSource |
157 | 4,773 | ||||||
| Northland Power |
90 | 2,950 | ||||||
| NRG Energy |
98 | 3,699 | ||||||
| Origin Energy |
706 | 2,964 | ||||||
| Orsted (B) |
76 | 8,848 | ||||||
| Osaka Gas |
200 | 3,596 | ||||||
| PG&E (A) |
596 | 6,473 | ||||||
| Power Assets Holdings |
500 | 3,274 | ||||||
| PPL |
309 | 8,986 | ||||||
| Public Service Enterprise Group |
203 | 13,331 | ||||||
| Red Electrica |
174 | 3,421 | ||||||
| RWE |
292 | 12,012 | ||||||
| Sempra Energy |
130 | 21,554 | ||||||
| Severn Trent |
101 | 3,631 | ||||||
| Snam |
811 | 4,069 | ||||||
| Southern |
454 | 34,908 | ||||||
| SSE |
487 | 10,518 | ||||||
| Terna - Rete Elettrica Nazionale |
566 | 4,333 | ||||||
| Tokyo Electric Power Holdings (A) |
600 | 2,361 | ||||||
| Tokyo Gas |
200 | 3,928 | ||||||
| UGI |
84 | 3,625 | ||||||
| Uniper |
37 | 247 | ||||||
| United Utilities Group |
274 | 3,641 | ||||||
| Veolia Environnement |
263 | 6,578 | ||||||
| Verbund |
27 | 2,969 | ||||||
| Vistra |
174 | 4,498 | ||||||
| WEC Energy Group |
126 | 13,080 | ||||||
| Xcel Energy |
223 | 16,319 | ||||||
|
|
|
| ||||||
| 685,414 | ||||||||
|
|
|
| ||||||
| TOTAL COMMON STOCK |
22,143,183 | |||||||
|
|
|
| ||||||
|
|
||||||||
| PREFERRED STOCK — 0.1% | ||||||||
| Shares | Value | |||||||
| CONSUMER DISCRETIONARY — 0.1% |
||||||||
| Bayerische Motoren Werke, 0.000% (C) |
23 | 1,746 | ||||||
| Porsche Automobil Holding, 0.000% (C) |
61 | 4,415 | ||||||
| The Advisors’ Inner Circle Fund III | LGIM America | |||
| Global Developed Equity Index Fund | ||||
| July 31, 2022 (Unaudited) | ||||
| SCHEDULE OF INVESTMENTS
PREFERRED STOCK (continued) |
| Shares | Value | |||||||
| CONSUMER DISCRETIONARY (continued) |
||||||||
| Volkswagen, 0.000% (C) |
76 | $ | 10,746 | |||||
|
|
|
| ||||||
| 16,907 | ||||||||
|
|
|
| ||||||
| CONSUMER STAPLES — 0.0% |
||||||||
| Henkel & KGaA, 0.000% (C) |
72 | 4,600 | ||||||
|
|
|
| ||||||
| HEALTH CARE — 0.0% |
||||||||
| Sartorius, 0.000% (C) |
11 | 4,920 | ||||||
|
|
|
| ||||||
| TOTAL PREFERRED STOCK |
26,427 | |||||||
|
|
|
| ||||||
|
|
||||||||
| RIGHTS — 0.0% | ||||||||
| Number of Rights |
||||||||
| Aust and NZ Banking, Expires 08/22/2022 |
78 | 217 | ||||||
| Telefonica ‡‡,(A) |
2,112 | 316 | ||||||
| Iberdrola ‡‡,(A) |
2,393 | 657 | ||||||
|
|
|
| ||||||
| TOTAL RIGHTS |
1,190 | |||||||
|
|
|
| ||||||
| TOTAL INVESTMENTS— 98.5% |
$ | 22,170,800 | ||||||
|
|
|
| ||||||
|
|
|
| ||||||
Percentages are based on Net Assets of $22,507,047.
| ‡ | Real Estate Investment Trust. |
| ‡‡ | Expiration date not available. |
| (A) | Non-income producing security. |
| (B) | Security exempt from registration under Rule 144A of the Securities Act of 1933. These securities may be resold in transactions exempt from registration normally to qualified institutions. On July 31, 2022, the value of these securities amounted to $78,110, representing 0.3% of the Net Assets of the Fund. |
| (C) | There is currently no rate available. |
ADR — American Depositary Receipt
Cl — Class
EAFE — Europe, Australasia and Far East
MSCI — Morgan Stanley Capital International
REIT — Real Estate Investment Trust
S&P — Standard and Poor’s
| The Advisors’ Inner Circle Fund III | LGIM America | |||
| Global Developed Equity Index Fund | ||||
| July 31, 2022 (Unaudited) | ||||
The open futures contracts held by the Fund at July 31, 2022, are as follows:
| Type of Contract | Number of Contracts |
Expiration Date |
Notional Amount |
Value | Unrealized Appreciation | |||||||||||||||
| Long Contracts |
||||||||||||||||||||
| MSCI EAFE Index |
1 | Sep-2022 | $ | 94,132 | $ | 97,605 | $ | 3,473 | ||||||||||||
| S&P 500 Micro E-MINI |
9 | Sep-2022 | 171,173 | 186,008 | 14,834 | |||||||||||||||
|
|
|
|
|
|
|
|
|
| ||||||||||||
| $ | 265,305 | $ | 283,613 | $ | 18,307 | |||||||||||||||
|
|
|
|
|
|
|
|
|
| ||||||||||||
The following is a summary of the inputs used as of July 31, 2022, in valuing the Fund’s investments carried at value:
| Investments in Securities | Level 1 | Level 2 | Level 3 | Total | ||||||||||||
| Common Stock | $ | 22,143,183 | $ | — | $ | — | $ | 22,143,183 | ||||||||
| Preferred Stock | 26,427 | — | — | 26,427 | ||||||||||||
| Rights | 1,190 | — | — | 1,190 | ||||||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| Total Investments in Securities | $ | 22,170,800 | $ | — | $ | — | $ | 22,170,800 | ||||||||
|
|
|
|||||||||||||||
|
|
|
|||||||||||||||
| Other Financial Instruments | Level 1 | Level 2 | Level 3 | Total | ||||||||||||
| Futures Contracts* |
||||||||||||||||
| Unrealized Appreciation |
$ | 18,307 | $ | – | $ | – | $ | 18,307 | ||||||||
|
|
|
|
|
|
|
|
|
|
|
|
| |||||
| Total Other Financial Instruments |
$ | 18,307 | $ | – | $ | – | $ | 18,307 | ||||||||
|
|
|
|
|
|
|
|
|
| ||||||||
|
|
|
|
|
|
|
|
|
| ||||||||
*Futures contracts are valued at the unrealized appreciation (depreciation) on the instrument.
For information regarding the Fund’s policies regarding valuation of investments and other significant accounting policies, please refer to the Fund’s most recent semi-annual and annual financial statements.
LGI-QH-001-0300