THE ADVISORS’ INNER CIRCLE FUND III
METLIFE CORE PLUS FUND
JULY 31, 2026 (Unaudited)
|
SCHEDULE OF INVESTMENTS | ||||||||
|
CORPORATE OBLIGATIONS — 36.5% | ||||||||
|
|
Face Amount |
Value | ||||||
|
COMMUNICATION SERVICES — 4.6% |
||||||||
|
Alphabet |
||||||||
|
4.700%, 11/15/35 |
$ |
245,000 |
$ |
233,272 |
||||
|
5.450%, 11/15/55 |
190,000 |
168,864 |
||||||
|
AT&T |
||||||||
|
3.500%, 06/01/41 |
240,000 |
176,668 |
||||||
|
3.550%, 09/15/55 |
195,000 |
116,958 |
||||||
|
5.700%, 11/01/54 |
215,000 |
185,531 |
||||||
|
6.000%, 11/15/34 |
20,000 |
19,952 |
||||||
|
IHS Holding |
||||||||
|
5.625%, 11/29/26 (A) |
250,000 |
248,721 |
||||||
|
Meta Platforms |
||||||||
|
5.400%, 08/15/54 |
155,000 |
126,175 |
||||||
|
5.550%, 08/15/64 |
115,000 |
91,973 |
||||||
|
6.300%, 05/15/56 |
110,000 |
100,949 |
||||||
|
Paramount Global |
||||||||
|
5.900%, 10/15/40 |
240,000 |
174,338 |
||||||
|
6.250%, US0003M + 3.899%, 02/28/57 (B) |
75,000 |
58,240 |
||||||
|
6.375%, H15T5Y + 3.999%, 03/30/62 (B) |
470,000 |
388,772 |
||||||
|
QTS Fayetteville I Dc1-2 |
||||||||
|
5.700%, 04/15/36 (A) |
170,000 |
155,451 |
||||||
|
Rakuten Group |
||||||||
|
9.750%, 04/15/29 (A) |
245,000 |
266,014 |
||||||
|
RD Michigan Property Owner I |
||||||||
|
7.500%, 03/30/45 (A) |
145,000 |
140,531 |
||||||
|
Sopaipilla Investor |
||||||||
|
7.534%, 11/30/48 (A) |
165,000 |
171,020 |
||||||
|
Space Exploration Technologies |
||||||||
|
5.350%, 07/15/31 (A) |
350,000 |
340,665 |
||||||
|
5.650%, 07/15/33 (A) |
200,000 |
191,605 |
||||||
|
5.875%, 07/15/36 (A) |
290,000 |
270,884 |
||||||
|
6.650%, 07/15/56 (A) |
170,000 |
150,442 |
||||||
|
Time Warner Cable |
||||||||
|
5.875%, 11/15/40 |
380,000 |
324,758 |
||||||
|
6.550%, 05/01/37 |
470,000 |
447,117 |
||||||
|
7.300%, 07/01/38 |
115,000 |
113,653 |
||||||
1
THE ADVISORS’ INNER CIRCLE FUND III
METLIFE CORE PLUS FUND
JULY 31, 2026 (Unaudited)
|
CORPORATE OBLIGATIONS — continued | ||||||||
|
|
Face Amount |
Value | ||||||
|
COMMUNICATION SERVICES — continued |
||||||||
|
T-Mobile USA |
||||||||
|
5.700%, 01/15/56 |
$ |
280,000 |
$ |
246,974 |
||||
|
Verizon Communications |
||||||||
|
6.200%, H15T5Y + 2.042%, 05/14/56 (B) |
215,000 |
210,411 |
||||||
|
|
5,119,938 |
|||||||
|
|
||||||||
|
CONSUMER DISCRETIONARY — 1.8% |
||||||||
|
Amazon.com |
||||||||
|
4.875%, 03/13/36 |
340,000 |
325,399 |
||||||
|
5.300%, 07/09/36 |
170,000 |
167,033 |
||||||
|
5.800%, 03/13/56 |
170,000 |
156,315 |
||||||
|
Carnival |
||||||||
|
5.125%, 05/01/29 (A) |
280,000 |
277,832 |
||||||
|
Flutter Treasury DAC |
||||||||
|
6.375%, 04/29/29 (A) |
215,000 |
217,657 |
||||||
|
Resorts World Las Vegas |
||||||||
|
4.625%, 04/06/31 (A) |
270,000 |
226,871 |
||||||
|
Stellantis Finance US |
||||||||
|
5.350%, 03/17/28 (A) |
200,000 |
200,365 |
||||||
|
Viking Ocean Cruises Ship VII |
||||||||
|
5.625%, 02/15/29 (A) |
390,000 |
389,666 |
||||||
|
|
1,961,138 |
|||||||
|
|
||||||||
|
CONSUMER STAPLES — 0.9% |
||||||||
|
Anheuser-Busch |
||||||||
|
4.900%, 02/01/46 |
107,000 |
93,567 |
||||||
|
Anheuser-Busch InBev Worldwide |
||||||||
|
5.450%, 01/23/39 |
65,000 |
64,451 |
||||||
|
BAT Capital |
||||||||
|
4.390%, 08/15/37 |
315,000 |
281,544 |
||||||
|
4.625%, 03/22/33 |
255,000 |
245,821 |
||||||
|
5.350%, 08/15/32 |
125,000 |
126,450 |
||||||
|
5.834%, 02/20/31 |
190,000 |
195,973 |
||||||
|
Reynolds American |
||||||||
|
8.125%, 05/01/40 |
45,000 |
52,388 |
||||||
|
|
1,060,194 |
|||||||
2
THE ADVISORS’ INNER CIRCLE FUND III
METLIFE CORE PLUS FUND
JULY 31, 2026 (Unaudited)
|
CORPORATE OBLIGATIONS — continued | ||||||||
|
|
Face Amount |
Value | ||||||
|
ENERGY — 3.1% |
||||||||
|
Baker Hughes Holdings |
||||||||
|
5.000%, 06/15/36 |
$ |
360,000 |
$ |
345,557 |
||||
|
5.850%, 06/15/56 |
115,000 |
108,571 |
||||||
|
Cheniere Energy |
||||||||
|
5.200%, 07/30/36 (A) |
125,000 |
120,915 |
||||||
|
Continental Resources |
||||||||
|
2.268%, 11/15/26 (A) |
225,000 |
223,422 |
||||||
|
Energy Transfer |
||||||||
|
6.300%, 01/15/56 |
145,000 |
139,614 |
||||||
|
6.700%, H15T5Y + 2.219%, 01/15/57 (B) |
340,000 |
334,973 |
||||||
|
Eni |
||||||||
|
5.250%, 05/18/36 (A) |
280,000 |
270,195 |
||||||
|
Greensaif Pipelines Bidco Sarl |
||||||||
|
6.103%, 08/23/42 (A) |
230,000 |
226,690 |
||||||
|
Hess |
||||||||
|
5.800%, 04/01/47 |
215,000 |
208,815 |
||||||
|
6.000%, 01/15/40 |
355,000 |
364,353 |
||||||
|
HF Sinclair |
||||||||
|
5.000%, 02/01/28 |
100,000 |
99,892 |
||||||
|
Occidental Petroleum |
||||||||
|
6.450%, 09/15/36 |
215,000 |
226,291 |
||||||
|
Petroleos Mexicanos |
||||||||
|
7.690%, 01/23/50 |
275,000 |
245,313 |
||||||
|
Raizen Fuels Finance |
||||||||
|
6.250%, 07/08/32 (A) |
310,000 |
164,254 |
||||||
|
Rio Grande LNG |
||||||||
|
5.750%, 06/30/36 (A) |
280,000 |
271,874 |
||||||
|
Tennessee Gas Pipeline |
||||||||
|
8.375%, 06/15/32 |
135,000 |
154,794 |
||||||
|
|
3,505,523 |
|||||||
|
|
||||||||
|
FIANANCIALS — 0.3% |
||||||||
|
Mizuho Financial Group |
||||||||
|
4.782%, H15T1Y + 0.680%, 07/13/30 (B) |
320,000 |
318,097 |
||||||
|
|
||||||||
|
FINANCIALS — 12.3% |
||||||||
|
Apollo Global Management |
||||||||
|
5.700%, 03/30/36 |
155,000 |
152,937 |
||||||
3
THE ADVISORS’ INNER CIRCLE FUND III
METLIFE CORE PLUS FUND
JULY 31, 2026 (Unaudited)
|
CORPORATE OBLIGATIONS — continued | ||||||||
|
|
Face Amount |
Value | ||||||
|
FINANCIALS — continued |
||||||||
|
Atlas Warehouse Lending |
||||||||
|
4.625%, 11/15/28 (A) |
$ |
250,000 |
$ |
246,507 |
||||
|
5.250%, 01/15/33 (A) |
255,000 |
246,699 |
||||||
|
Avolon Holdings Funding |
||||||||
|
5.750%, 11/15/29 (A) |
295,000 |
299,783 |
||||||
|
5.750%, 03/01/29 (A) |
160,000 |
162,474 |
||||||
|
6.375%, 05/04/28 (A) |
160,000 |
163,685 |
||||||
|
Bank of America |
||||||||
|
4.571%, SOFR + 1.830%, 04/27/33 (B) |
205,000 |
198,473 |
||||||
|
5.288%, SOFR + 1.910%, 04/25/34 (B) |
200,000 |
199,468 |
||||||
|
5.468%, SOFR + 1.650%, 01/23/35 (B) |
370,000 |
371,477 |
||||||
|
Canadian Imperial Bank of Commerce |
||||||||
|
4.283%, SOFRINDX + 0.790%, 01/29/30 (B) |
255,000 |
251,300 |
||||||
|
CI Financial |
||||||||
|
3.200%, 12/17/30 |
675,000 |
610,539 |
||||||
|
Citigroup |
||||||||
|
2.561%, SOFR + 1.167%, 05/01/32 (B) |
490,000 |
436,646 |
||||||
|
5.174%, SOFR + 1.364%, 02/13/30 (B) |
325,000 |
326,860 |
||||||
|
8.125%, 07/15/39 |
165,000 |
201,274 |
||||||
|
Constellation Insurance |
||||||||
|
6.800%, 01/24/30 (A) |
380,000 |
375,789 |
||||||
|
Credit Suisse Group |
||||||||
|
7.500%, USSW5 + 4.598%, 06/11/75 (A) (C) |
725,000 |
174,000 |
||||||
|
Deutsche Bank NY |
||||||||
|
4.999%, SOFR + 1.700%, 09/11/30 (B) |
140,000 |
139,514 |
||||||
|
6.819%, SOFR + 2.510%, 11/20/29 (B) |
135,000 |
140,438 |
||||||
|
Drawbridge Special Opportunities Fund |
||||||||
|
5.950%, 09/17/30 (A) |
315,000 |
302,068 |
||||||
|
Farmers Exchange Capital |
||||||||
|
7.050%, 07/15/28 (A) |
245,000 |
252,868 |
||||||
|
Farmers Exchange Capital III |
||||||||
|
5.454%, TSFR3M + 3.716%, 10/15/54 (A)(B) |
405,000 |
373,316 |
||||||
|
Farmers Insurance Exchange |
||||||||
|
7.000%, H15T10Y + 3.864%, 10/15/64 (A)(B) |
170,000 |
169,581 |
||||||
|
Goldman Sachs Capital I |
||||||||
|
6.345%, 02/15/34 |
340,000 |
348,776 |
||||||
4
THE ADVISORS’ INNER CIRCLE FUND III
METLIFE CORE PLUS FUND
JULY 31, 2026 (Unaudited)
|
CORPORATE OBLIGATIONS — continued | ||||||||
|
|
Face Amount |
Value | ||||||
|
FINANCIALS — continued |
||||||||
|
Goldman Sachs Group |
||||||||
|
2.383%, SOFR + 1.248%, 07/21/32 (B) |
$ |
410,000 |
$ |
358,188 |
||||
|
4.939%, SOFR + 1.330%, 10/21/36 (B) |
190,000 |
179,703 |
||||||
|
5.065%, SOFR + 1.190%, 01/21/37 (B) |
280,000 |
266,687 |
||||||
|
5.536%, SOFR + 1.380%, 01/28/36 (B) |
265,000 |
262,981 |
||||||
|
5.655%, SOFR + 1.450%, 07/21/37 (B) |
110,000 |
109,499 |
||||||
|
Goldman Sachs Private Credit |
||||||||
|
5.050%, 02/23/28 |
285,000 |
283,273 |
||||||
|
HSBC Holdings |
||||||||
|
4.398%, SOFR + 0.990%, 03/10/30 (B) |
200,000 |
197,187 |
||||||
|
5.733%, SOFR + 1.520%, 05/17/32 (B) |
370,000 |
377,212 |
||||||
|
Imperial Brands Finance |
||||||||
|
5.500%, 07/07/36 (A) |
285,000 |
277,148 |
||||||
|
Jackson Financial |
||||||||
|
3.125%, 11/23/31 |
220,000 |
195,400 |
||||||
|
6.150%, 01/15/37 |
280,000 |
273,712 |
||||||
|
Jefferies Financial Group |
||||||||
|
5.125%, 04/28/31 |
155,000 |
151,721 |
||||||
|
JPMorgan Chase |
||||||||
|
4.810%, SOFR + 1.190%, 10/22/36 (B) |
320,000 |
303,832 |
||||||
|
4.864%, SOFR + 0.845%, 07/23/30 (B) |
260,000 |
259,443 |
||||||
|
5.023%, TSFR3M + 1.212%, 02/02/37 (B) |
120,000 |
110,429 |
||||||
|
5.572%, SOFR + 1.680%, 04/22/36 (B) |
225,000 |
226,061 |
||||||
|
5.766%, SOFR + 1.490%, 04/22/35 (B) |
315,000 |
321,821 |
||||||
|
Mercury General |
||||||||
|
6.250%, 06/15/36 |
225,000 |
223,878 |
||||||
|
Morgan Stanley |
||||||||
|
4.238%, SOFR + 0.800%, 01/09/30 (B) |
405,000 |
398,269 |
||||||
|
4.868%, SOFRINDX + 0.847%, 07/12/29 (B) |
275,000 |
274,949 |
||||||
|
5.466%, SOFR + 1.730%, 01/18/35 (B) |
265,000 |
264,172 |
||||||
|
Morgan Stanley MTN |
||||||||
|
5.250%, SOFR + 1.870%, 04/21/34 (B) |
290,000 |
287,184 |
||||||
|
5.831%, SOFR + 1.580%, 04/19/35 (B) |
185,000 |
188,434 |
||||||
|
NMI Holdings |
||||||||
|
6.000%, 08/15/29 |
175,000 |
177,539 |
||||||
5
THE ADVISORS’ INNER CIRCLE FUND III
METLIFE CORE PLUS FUND
JULY 31, 2026 (Unaudited)
|
CORPORATE OBLIGATIONS — continued | ||||||||
|
|
Face Amount |
Value | ||||||
|
FINANCIALS — continued |
||||||||
|
Prologis Targeted US Logistics Fund |
||||||||
|
4.625%, 03/15/33 (A) |
$ |
255,000 |
$ |
243,694 |
||||
|
Romanian Government International Bond |
||||||||
|
6.375%, 01/30/34 (A) |
270,000 |
270,121 |
||||||
|
Santander Holdings USA |
||||||||
|
5.040%, SOFR + 1.104%, 06/05/30 (B) |
290,000 |
288,561 |
||||||
|
Sompo Holdings |
||||||||
|
5.411%, H15T1Y + 2.130%, 04/22/37 (A)(B) |
200,000 |
192,071 |
||||||
|
State Street |
||||||||
|
4.926%, TSFR3M + 1.262%, 06/15/47 (B) |
150,000 |
132,648 |
||||||
|
UBS Group |
||||||||
|
7.000%, USISSO05 + 3.321%, 07/08/75 (A)(B) (C) |
130,000 |
129,295 |
||||||
|
Wells Fargo |
||||||||
|
4.182%, SOFR + 0.740%, 01/23/30 (B) |
235,000 |
231,216 |
||||||
|
|
13,600,800 |
|||||||
|
|
||||||||
|
HEALTH CARE — 2.6% |
||||||||
|
Amgen |
||||||||
|
6.375%, 06/01/37 |
135,000 |
143,591 |
||||||
|
Bayer US Finance |
||||||||
|
5.375%, 07/20/33 (A) |
200,000 |
197,585 |
||||||
|
Centene |
||||||||
|
3.000%, 10/15/30 |
175,000 |
157,264 |
||||||
|
4.625%, 12/15/29 |
340,000 |
329,847 |
||||||
|
CVS Health |
||||||||
|
1.875%, 02/28/31 |
205,000 |
178,495 |
||||||
|
5.050%, 03/25/48 |
435,000 |
367,395 |
||||||
|
6.750%, H15T5Y + 2.516%, 12/10/54 (B) |
140,000 |
144,246 |
||||||
|
HCA |
||||||||
|
3.500%, 07/15/51 |
305,000 |
194,606 |
||||||
|
3.500%, 09/01/30 |
185,000 |
174,381 |
||||||
|
Health Care Service A Mutual Legal Reserve |
||||||||
|
5.200%, 06/15/29 (A) |
210,000 |
211,142 |
||||||
|
Horizon Mutual Holdings |
||||||||
|
6.200%, 11/15/34 (A) |
365,000 |
344,595 |
||||||
|
PeaceHealth Obligated Group |
||||||||
|
4.855%, 11/15/32 |
230,000 |
225,321 |
||||||
6
THE ADVISORS’ INNER CIRCLE FUND III
METLIFE CORE PLUS FUND
JULY 31, 2026 (Unaudited)
|
CORPORATE OBLIGATIONS — continued | ||||||||
|
|
Face Amount |
Value | ||||||
|
HEALTH CARE — continued |
||||||||
|
Royalty Pharma |
||||||||
|
5.200%, 09/25/35 |
$ |
245,000 |
$ |
238,554 |
||||
|
|
2,907,022 |
|||||||
|
|
||||||||
|
INDUSTRIALS — 2.1% |
||||||||
|
AerCap Ireland Capital DAC |
||||||||
|
3.000%, 10/29/28 |
185,000 |
177,842 |
||||||
|
4.950%, 09/10/34 |
225,000 |
215,372 |
||||||
|
6.500%, H15T5Y + 2.441%, 01/31/56 (B) |
215,000 |
216,062 |
||||||
|
American Airlines Pass Through Trust, Ser 2025-1, Cl A |
||||||||
|
4.900%, 05/11/38 |
95,000 |
90,891 |
||||||
|
BAE Systems |
||||||||
|
5.250%, 03/26/31 (A) |
220,000 |
222,774 |
||||||
|
Booz Allen Hamilton |
||||||||
|
5.900%, 01/30/34 |
235,000 |
232,409 |
||||||
|
Honeywell Aerospace |
||||||||
|
4.600%, 03/16/33 (A) |
170,000 |
164,356 |
||||||
|
4.950%, 03/16/36 (A) |
280,000 |
269,916 |
||||||
|
Leidos |
||||||||
|
5.000%, 03/15/36 |
285,000 |
269,175 |
||||||
|
SMBC Aviation Capital Finance DAC |
||||||||
|
4.950%, 07/23/29 (A) |
220,000 |
219,521 |
||||||
|
5.250%, 11/26/35 (A) |
335,000 |
322,375 |
||||||
|
|
2,400,693 |
|||||||
|
|
||||||||
|
INFORMATION TECHNOLOGY — 2.3% |
||||||||
|
Broadcom |
||||||||
|
3.419%, 04/15/33 |
109,000 |
96,220 |
||||||
|
Foundry JV Holdco |
||||||||
|
6.100%, 01/25/36 (A) |
400,000 |
408,895 |
||||||
|
Intel |
||||||||
|
3.250%, 11/15/49 |
85,000 |
51,993 |
||||||
|
NVIDIA |
||||||||
|
4.750%, 06/15/33 |
315,000 |
305,406 |
||||||
7
THE ADVISORS’ INNER CIRCLE FUND III
METLIFE CORE PLUS FUND
JULY 31, 2026 (Unaudited)
|
CORPORATE OBLIGATIONS — continued | ||||||||
|
|
Face Amount |
Value | ||||||
|
INFORMATION TECHNOLOGY — continued |
||||||||
|
Oracle |
||||||||
|
3.600%, 04/01/40 |
$ |
110,000 |
$ |
76,100 |
||||
|
3.800%, 11/15/37 |
235,000 |
177,108 |
||||||
|
4.375%, 05/15/55 |
110,000 |
69,187 |
||||||
|
4.450%, 09/26/30 |
225,000 |
212,391 |
||||||
|
5.375%, 09/27/54 |
130,000 |
94,788 |
||||||
|
Salesforce |
||||||||
|
4.650%, 03/15/29 |
395,000 |
393,248 |
||||||
|
5.200%, 03/15/33 |
315,000 |
311,130 |
||||||
|
ServiceNow |
||||||||
|
5.400%, 05/15/36 |
180,000 |
175,815 |
||||||
|
Sprint Capital |
||||||||
|
8.750%, 03/15/32 |
145,000 |
168,724 |
||||||
|
|
2,541,005 |
|||||||
|
|
||||||||
|
MATERIALS — 1.5% |
||||||||
|
Anglo American Capital |
||||||||
|
5.750%, 04/05/34 (A) |
325,000 |
329,413 |
||||||
|
Braskem Netherlands Finance BV |
||||||||
|
4.500%, 01/31/30 (A) |
205,000 |
111,212 |
||||||
|
8.000%, 10/15/34 (A) |
150,000 |
81,375 |
||||||
|
First Quantum Minerals |
||||||||
|
7.250%, 02/15/34 (A) |
225,000 |
229,195 |
||||||
|
8.625%, 06/01/31 (A) |
310,000 |
322,501 |
||||||
|
FMC |
||||||||
|
8.000%, 06/01/31 (A) |
100,000 |
103,403 |
||||||
|
8.450%, H15T5Y + 4.366%, 11/01/55 (B) |
205,000 |
154,193 |
||||||
|
United States Steel |
||||||||
|
5.200%, 08/01/31 (A) |
350,000 |
346,062 |
||||||
|
|
1,677,354 |
|||||||
|
|
||||||||
|
REAL ESTATE — 0.2% |
||||||||
|
Sabra Health Care |
||||||||
|
3.900%, 10/15/29 |
185,000 |
178,372 |
||||||
8
THE ADVISORS’ INNER CIRCLE FUND III
METLIFE CORE PLUS FUND
JULY 31, 2026 (Unaudited)
|
CORPORATE OBLIGATIONS — continued | ||||||||
|
|
Face Amount |
Value | ||||||
|
UTILITIES — 4.8% |
||||||||
|
AEP Texas |
||||||||
|
5.850%, 10/15/55 |
$ |
125,000 |
$ |
116,155 |
||||
|
Brooklyn Union Gas |
||||||||
|
6.415%, 07/18/54 (A) |
220,000 |
217,014 |
||||||
|
Chile Electricity Lux MPC Sarl |
||||||||
|
6.010%, 01/20/33 (A) |
214,500 |
217,643 |
||||||
|
Dominion Energy |
||||||||
|
6.000%, H15T5Y + 2.262%, 02/15/56 (B) |
275,000 |
272,203 |
||||||
|
6.625%, H15T5Y + 2.207%, 05/15/55 (B) |
155,000 |
156,164 |
||||||
|
Electricite de France |
||||||||
|
6.125%, 04/22/56 (A) |
215,000 |
202,695 |
||||||
|
Louisville Gas and Electric |
||||||||
|
5.450%, 04/15/33 |
130,000 |
131,373 |
||||||
|
NextEra Energy Capital Holdings |
||||||||
|
5.450%, 03/15/35 |
375,000 |
371,374 |
||||||
|
NiSource |
||||||||
|
5.350%, 04/01/34 |
245,000 |
245,083 |
||||||
|
NRG Energy |
||||||||
|
4.955%, 04/30/31 (A) |
220,000 |
215,088 |
||||||
|
Pacific Gas and Electric |
||||||||
|
2.100%, 08/01/27 |
265,000 |
258,406 |
||||||
|
2.500%, 02/01/31 |
205,000 |
182,888 |
||||||
|
5.200%, 05/01/36 |
215,000 |
204,578 |
||||||
|
6.100%, 01/15/29 |
210,000 |
215,490 |
||||||
|
PSEG Power |
||||||||
|
5.750%, 05/15/35 (A) |
260,000 |
259,786 |
||||||
|
Public Service Company of Oklahoma |
||||||||
|
5.200%, 01/15/35 |
122,000 |
118,923 |
||||||
|
RWE Finance US |
||||||||
|
5.125%, 09/18/35 (A) |
190,000 |
181,483 |
||||||
|
Sempra |
||||||||
|
5.250%, 03/15/36 |
225,000 |
217,111 |
||||||
|
Southern Gas Capital |
||||||||
|
6.050%, H15T5Y + 1.822%, 09/15/56 (B) |
135,000 |
133,972 |
||||||
|
Southern Power |
||||||||
|
4.900%, 10/01/35 |
180,000 |
171,144 |
||||||
9
THE ADVISORS’ INNER CIRCLE FUND III
METLIFE CORE PLUS FUND
JULY 31, 2026 (Unaudited)
|
CORPORATE OBLIGATIONS — continued | ||||||||
|
|
Face Amount |
Value | ||||||
|
UTILITIES — continued |
||||||||
|
Virginia Electric and Power |
||||||||
|
5.000%, 01/15/34 |
$ |
382,000 |
$ |
373,896 |
||||
|
Virginia Power Fuel Securitization |
||||||||
|
5.088%, 05/01/27 |
59,150 |
59,243 |
||||||
|
Vistra Operations |
||||||||
|
4.700%, 01/31/31 (A) |
235,000 |
228,755 |
||||||
|
5.250%, 10/15/35 (A) |
235,000 |
224,011 |
||||||
|
5.700%, 12/30/34 (A) |
290,000 |
286,158 |
||||||
|
|
5,260,636 |
|||||||
|
|
||||||||
|
TOTAL CORPORATE OBLIGATIONS |
||||||||
|
(Cost $42,744,059) |
40,530,772 |
|||||||
|
|
||||||||
|
MORTGAGE-BACKED SECURITIES — 35.7% |
||||||||
|
AGENCY MORTGAGE-BACKED OBLIGATIONS — 30.7% |
||||||||
|
FHLMC |
||||||||
|
2.000%, 01/01/37 to 05/01/52 |
1,211,748 |
992,887 |
||||||
|
2.500%, 11/01/51 to 01/01/52 |
1,873,113 |
1,565,205 |
||||||
|
3.000%, 12/01/47 |
50,189 |
44,091 |
||||||
|
3.500%, 11/01/48 |
221,665 |
201,920 |
||||||
|
4.000%, 09/01/48 |
43,895 |
40,822 |
||||||
|
4.500%, 07/01/52 |
488,358 |
466,374 |
||||||
|
5.000%, 01/01/53 to 05/01/55 |
1,580,423 |
1,535,952 |
||||||
|
5.500%, 01/01/53 to 09/01/55 |
3,297,880 |
3,296,141 |
||||||
|
6.000%, 01/01/53 to 07/01/55 |
1,582,570 |
1,619,758 |
||||||
|
FHLMC Multifamily Structured Pass Through Certificates, Ser Q032, Cl A |
||||||||
|
4.950%, 11/25/54 (B) |
89,198 |
88,557 |
||||||
|
FHLMC, Ser 2012-271, Cl 30 |
||||||||
|
3.000%, 08/15/42 |
25,454 |
22,943 |
||||||
|
FHLMC, Ser 2017-356, Cl 300 |
||||||||
|
3.000%, 09/15/47 |
102,392 |
89,987 |
||||||
|
FHLMC, Ser 2025-5605, Cl NF |
||||||||
|
4.566%, SOFR30A + 0.950%, 12/25/55 (B) |
522,992 |
523,357 |
||||||
10
THE ADVISORS’ INNER CIRCLE FUND III
METLIFE CORE PLUS FUND
JULY 31, 2026 (Unaudited)
|
MORTGAGE-BACKED SECURITIES — continued | ||||||||
|
|
Face Amount |
Value | ||||||
|
AGENCY MORTGAGE-BACKED OBLIGATIONS — continued |
||||||||
|
FHLMC, Ser 2026-459, Cl GH |
||||||||
|
4.800%, 07/25/31 |
$ |
559,917 |
$ |
556,139 |
||||
|
FNMA |
||||||||
|
1.790%, 08/01/31 |
163,917 |
142,031 |
||||||
|
1.850%, 09/01/35 |
216,883 |
189,342 |
||||||
|
2.000%, 01/01/42 to 12/01/51 |
2,229,158 |
1,791,088 |
||||||
|
2.500%, 06/01/50 to 04/01/52 |
3,041,766 |
2,544,114 |
||||||
|
3.000%, 12/01/31 to 07/01/52 |
3,565,712 |
3,151,007 |
||||||
|
3.040%, 01/01/28 |
155,002 |
151,895 |
||||||
|
3.500%, 07/01/43 to 04/01/52 |
1,804,187 |
1,639,593 |
||||||
|
4.000%, 03/01/48 to 08/01/52 |
662,713 |
611,404 |
||||||
|
4.500%, 06/01/52 to 09/01/52 |
677,904 |
648,923 |
||||||
|
5.000%, 02/01/31 to 11/01/53 |
1,837,222 |
1,791,454 |
||||||
|
5.500%, 12/01/39 to 08/01/54 |
1,554,584 |
1,551,142 |
||||||
|
6.000%, 10/01/53 to 03/01/54 |
1,063,750 |
1,082,595 |
||||||
|
FNMA or FHLMC TBA |
||||||||
|
6.000%, 08/01/33 |
1,095,000 |
1,107,058 |
||||||
|
FNMA, Ser 2001-T4, Cl A1 |
||||||||
|
7.500%, 07/25/41 |
919 |
929 |
||||||
|
FNMA, Ser 2005-24, Cl ZE |
||||||||
|
5.000%, 04/25/35 |
1,821 |
1,827 |
||||||
|
FNMA, Ser 2012-121, Cl TB |
||||||||
|
7.000%, 11/25/42 |
9,155 |
9,591 |
||||||
|
FNMA, Ser 2022-57, Cl FA |
||||||||
|
4.316%, SOFR30A + 0.700%, 09/25/52 (B) |
593,822 |
581,868 |
||||||
|
FNMA, Ser 2022-61, Cl F |
||||||||
|
4.316%, SOFR30A + 0.700%, 09/25/52 (B) |
521,552 |
512,438 |
||||||
|
GNMA |
||||||||
|
2.000%, 12/20/50 to 02/20/51 |
800,365 |
642,184 |
||||||
|
2.500%, 04/20/51 to 11/20/51 |
1,044,315 |
873,517 |
||||||
|
3.000%, 04/20/50 |
199,449 |
173,376 |
||||||
|
4.000%, 04/20/49 to 04/20/52 |
1,023,793 |
943,220 |
||||||
|
4.378%, 01/20/67 (B) |
20,197 |
19,976 |
||||||
11
THE ADVISORS’ INNER CIRCLE FUND III
METLIFE CORE PLUS FUND
JULY 31, 2026 (Unaudited)
|
MORTGAGE-BACKED SECURITIES — continued | ||||||||
|
|
Face Amount |
Value | ||||||
|
AGENCY MORTGAGE-BACKED OBLIGATIONS — continued |
||||||||
|
5.000%, 07/20/53 |
$ |
225,561 |
$ |
219,382 |
||||
|
GNMA, Ser 2010-H14, Cl BI, IO |
||||||||
|
1.555%, 07/20/60 (B) |
1,692 |
183 |
||||||
|
GNMA, Ser 2017-H16, Cl PT |
||||||||
|
4.404%, 05/20/66 (B) |
36 |
35 |
||||||
|
UMBS TBA |
||||||||
|
2.000%, 08/15/56 |
710,000 |
552,913 |
||||||
|
3.000%, 08/01/42 |
605,000 |
515,691 |
||||||
|
3.500%, 08/01/40 |
925,000 |
820,468 |
||||||
|
5.000%, 08/15/56 |
800,000 |
771,973 |
||||||
|
|
34,085,350 |
|||||||
|
|
||||||||
|
NON-AGENCY MORTGAGE-BACKED OBLIGATIONS — 5.0% |
||||||||
|
BANK, Ser 2022-BNK40, Cl A4 |
||||||||
|
3.389%, 03/15/64 (B) |
115,000 |
105,119 |
||||||
|
BBCMS Mortgage Trust, Ser 2020-C6, Cl AS |
||||||||
|
2.840%, 02/15/53 |
75,000 |
68,011 |
||||||
|
BBCMS Mortgage Trust, Ser C32, Cl A5 |
||||||||
|
5.720%, 02/15/62 |
195,000 |
200,133 |
||||||
|
Benchmark Mortgage Trust, Ser 2022-B33, Cl A5 |
||||||||
|
3.458%, 03/15/55 (B) |
185,000 |
168,821 |
||||||
|
Benchmark Mortgage Trust, Ser 2022-B35, Cl AS |
||||||||
|
4.442%, 05/15/55 (B) |
205,000 |
187,746 |
||||||
|
BFLD Commercial Mortgage Trust, Ser 660F, Cl B |
||||||||
|
5.476%, TSFR1M + 1.800%, 11/15/42 (A)(B) |
190,000 |
190,238 |
||||||
|
BFLD Commercial Mortgage Trust, Ser 660F, Cl C |
||||||||
|
5.826%, TSFR1M + 2.150%, 11/15/42 (A)(B) |
125,000 |
125,156 |
||||||
|
BSPRT Issuer, Ser 2026-FL13, Cl A |
||||||||
|
5.170%, TSFR1M + 1.500%, 10/18/43 (A)(B) |
135,000 |
135,146 |
||||||
|
BX Commercial Mortgage Trust, Ser 2026-CSMO, Cl B |
||||||||
|
5.376%, TSFR1M + 1.700%, 02/15/43 (A)(B) |
270,000 |
271,856 |
||||||
12
THE ADVISORS’ INNER CIRCLE FUND III
METLIFE CORE PLUS FUND
JULY 31, 2026 (Unaudited)
|
MORTGAGE-BACKED SECURITIES — continued | ||||||||
|
|
Face Amount |
Value | ||||||
|
NON-AGENCY MORTGAGE-BACKED OBLIGATIONS — continued |
||||||||
|
BX Commercial Mortgage Trust, Ser 2026-VLT9, Cl A |
||||||||
|
5.376%, TSFR1M + 1.700%, 03/15/45 (A)(B) |
$ |
340,000 |
$ |
339,151 |
||||
|
BX Commercial Mortgage Trust, Ser AIRC, Cl A |
||||||||
|
5.368%, TSFR1M + 1.691%, 08/15/41 (A)(B) |
85,075 |
85,438 |
||||||
|
CHI Commercial Mortgage Trust, Ser 2025-110W, Cl A |
||||||||
|
5.102%, 12/13/40 (A)(B) |
110,000 |
108,216 |
||||||
|
Citigroup Commercial Mortgage Trust, Ser GC41, Cl A5 |
||||||||
|
2.869%, 08/10/56 |
175,000 |
164,205 |
||||||
|
Citigroup Commercial Mortgage Trust, Ser P6, Cl A5 |
||||||||
|
3.720%, 12/10/49 (B) |
55,000 |
54,668 |
||||||
|
Citigroup Mortgage Loan Trust, Ser 2025-2, Cl A10 |
||||||||
|
6.000%, 02/25/55 (A)(B) |
204,641 |
203,964 |
||||||
|
CSMC LLC, Ser 2014-USA, Cl A2 |
||||||||
|
3.953%, 09/15/37 (A) |
125,000 |
115,359 |
||||||
|
CSMC Trust, Ser 2021-RPL3, Cl A1 |
||||||||
|
2.000%, 01/25/60 (A)(B) |
292,521 |
255,728 |
||||||
|
HIH Trust, Ser 61P, Cl A |
||||||||
|
5.518%, TSFR1M + 1.842%, 10/15/41 (A)(B) |
279,271 |
279,795 |
||||||
|
JPMBB Commercial Mortgage Securities Trust, Ser 2014-C25, Cl B |
||||||||
|
4.347%, 11/15/47 (B) |
215,000 |
204,785 |
||||||
|
Manhattan West Mortgage Trust, Ser 2026-2MW, Cl A |
||||||||
|
5.321%, 06/10/48 (A)(B) |
185,000 |
182,596 |
||||||
|
MF1, Ser 2025-FL17, Cl A |
||||||||
|
4.990%, TSFR1M + 1.320%, 02/18/40 (A)(B) |
255,000 |
255,036 |
||||||
|
MF1, Ser 2026-FL22, Cl A |
||||||||
|
5.070%, TSFR1M + 1.400%, 11/18/43 (A)(B) |
110,000 |
110,090 |
||||||
|
Mill City Mortgage Loan Trust, Ser 2021-NMR1, Cl A1 |
||||||||
|
1.125%, 11/25/60 (A)(B) |
136,902 |
132,476 |
||||||
|
NYC Trust, Ser 2026-9W57, Cl A |
||||||||
|
4.890%, 06/06/40 (A)(B) |
200,000 |
197,101 |
||||||
13
THE ADVISORS’ INNER CIRCLE FUND III
METLIFE CORE PLUS FUND
JULY 31, 2026 (Unaudited)
|
MORTGAGE-BACKED SECURITIES — continued | ||||||||
|
|
Face Amount |
Value | ||||||
|
NON-AGENCY MORTGAGE-BACKED OBLIGATIONS — continued |
||||||||
|
OBX Trust, Ser 2026-NQM6, Cl A1FC |
||||||||
|
5.063%, 04/26/66 (A) (D) |
$ |
274,902 |
$ |
273,519 |
||||
|
OBX Trust, Ser 2026-NQM7, Cl A1FC |
||||||||
|
5.220%, 04/25/66 (A) (D) |
227,570 |
226,521 |
||||||
|
Oceanview Mortgage Trust, Ser 2025-1, Cl AF1 |
||||||||
|
4.416%, SOFR30A + 0.800%, 11/25/54 (A)(B) |
60,543 |
60,548 |
||||||
|
Oceanview Mortgage Trust, Ser 2025-2, Cl AF1 |
||||||||
|
4.466%, SOFR30A + 0.850%, 04/25/55 (A)(B) |
86,429 |
86,477 |
||||||
|
Oceanview Mortgage Trust, Ser 2026-1, Cl AF1 |
||||||||
|
4.516%, SOFR30A + 0.900%, 02/25/56 (A)(B) |
282,616 |
282,633 |
||||||
|
Rate Mortgage Trust, Ser 2024-J4, Cl A4 |
||||||||
|
6.000%, 12/25/54 (A)(B) |
128,161 |
127,731 |
||||||
|
Sequoia Mortgage Trust, Ser 2018-CH4, Cl B1B |
||||||||
|
5.053%, 10/25/48 (A)(B) |
222,369 |
217,429 |
||||||
|
Towd Point Mortgage Trust, Ser 2020-3, Cl A1 |
||||||||
|
3.088%, 02/25/63 (A)(B) |
38,474 |
37,353 |
||||||
|
WFRBS Commercial Mortgage Trust, Ser 2014-C22, Cl B |
||||||||
|
4.371%, 09/15/57 (B) |
120,000 |
113,581 |
||||||
|
|
5,566,626 |
|||||||
|
|
||||||||
|
TOTAL MORTGAGE-BACKED SECURITIES |
||||||||
|
(Cost $41,653,499) |
39,651,976 |
|||||||
|
|
||||||||
|
U.S. TREASURY OBLIGATIONS — 21.4% |
||||||||
|
U.S. Treasury Bonds |
||||||||
|
2.000%, 08/15/51 |
1,525,000 |
822,249 |
||||||
|
3.000%, 02/15/49 |
2,915,000 |
2,024,331 |
||||||
|
3.125%, 05/15/48 (E) |
2,755,000 |
1,973,700 |
||||||
|
4.625%, 02/15/46 |
1,790,000 |
1,649,038 |
||||||
|
4.750%, 02/15/56 |
1,291,000 |
1,192,965 |
||||||
|
5.000%, 05/15/46 to 05/15/56 |
3,684,000 |
3,553,555 |
||||||
14
THE ADVISORS’ INNER CIRCLE FUND III
METLIFE CORE PLUS FUND
JULY 31, 2026 (Unaudited)
|
U.S. TREASURY OBLIGATIONS — continued | ||||||||
|
|
Face Amount |
Value | ||||||
|
U.S. Treasury Notes |
||||||||
|
3.875%, 05/15/29 |
$ |
1,122,000 |
$ |
1,108,676 |
||||
|
4.125%, 06/30/28 to 06/30/31 |
6,284,000 |
6,244,494 |
||||||
|
4.250%, 07/31/28 to 06/30/33 |
3,301,000 |
3,271,336 |
||||||
|
4.375%, 07/31/31 to 05/15/36 |
1,988,000 |
1,966,899 |
||||||
|
|
||||||||
|
TOTAL U.S. TREASURY OBLIGATIONS |
||||||||
|
(Cost $24,717,281) |
23,807,243 |
|||||||
|
|
||||||||
|
ASSET-BACKED SECURITIES — 3.1% |
||||||||
|
Aqua Finance Issuer Trust, Ser 2025-B, Cl A |
||||||||
|
4.790%, 05/17/51 (A) |
0 |
— |
||||||
|
ARI Fleet Lease Trust, Ser 2023-A, Cl A3 |
||||||||
|
5.330%, 02/17/32 (A) |
50,477 |
50,561 |
||||||
|
ARI Fleet Lease Trust, Ser 2024-A, Cl A2 |
||||||||
|
5.300%, 11/15/32 (A) |
17,411 |
17,452 |
||||||
|
College Ave Student Loans, Ser 2019-A, Cl A2 |
||||||||
|
3.280%, 12/28/48 (A) |
119,905 |
114,081 |
||||||
|
College Ave Student Loans, Ser 2021-B, Cl A2 |
||||||||
|
1.760%, 06/25/52 (A) |
69,177 |
61,955 |
||||||
|
College Ave Student Loans, Ser 2021-B, Cl B |
||||||||
|
2.420%, 06/25/52 (A) |
135,323 |
122,716 |
||||||
|
Hilton Grand Vacations Trust, Ser 2020-AA, Cl A |
||||||||
|
2.740%, 02/25/39 (A) |
18,733 |
18,566 |
||||||
|
Hyundai Auto Lease Securitization Trust, Ser 2025-A, Cl A3 |
||||||||
|
4.830%, 01/18/28 (A) |
250,000 |
250,671 |
||||||
|
Navient Education Loan Trust, Ser 2026-A, Cl A |
||||||||
|
4.860%, 09/15/56 (A) |
234,869 |
231,662 |
||||||
|
Navient Private Education Refi Loan Trust, Ser 2019-FA, Cl A2 |
||||||||
|
2.600%, 08/15/68 (A) |
125,877 |
121,411 |
||||||
|
Navient Refinance Loan Trust, Ser 2025-B, Cl A |
||||||||
|
4.720%, 09/15/55 (A) |
99,731 |
98,449 |
||||||
|
Nelnet Student Loan Trust, Ser 2021-BA, Cl AFL |
||||||||
|
4.564%, TSFR1M + 0.894%, 04/20/62 (A)(B) |
33,178 |
33,026 |
||||||
|
Nelnet Student Loan Trust, Ser 2025-CA, Cl A1A |
||||||||
|
4.670%, 06/22/65 (A) |
0 |
— |
||||||
15
THE ADVISORS’ INNER CIRCLE FUND III
METLIFE CORE PLUS FUND
JULY 31, 2026 (Unaudited)
|
ASSET-BACKED SECURITIES — continued | ||||||||
|
|
Face Amount |
Value | ||||||
|
RCKT Mortgage Trust, Ser 2025-CES1, Cl A1A |
||||||||
|
5.653%, 01/25/45 (A) (D) |
$ |
119,665 |
$ |
119,869 |
||||
|
RCKT Mortgage Trust, Ser 2025-CES10, Cl A1A |
||||||||
|
4.894%, 11/25/55 (A) (D) |
260,819 |
258,151 |
||||||
|
RCKT Mortgage Trust, Ser 2025-CES12, Cl A1A |
||||||||
|
5.027%, 11/25/55 (A) (D) |
83,766 |
82,969 |
||||||
|
RCKT Mortgage Trust, Ser 2025-CES2, Cl A1A |
||||||||
|
5.503%, 02/25/55 (A) (D) |
125,967 |
125,992 |
||||||
|
RCKT Mortgage Trust, Ser 2025-CES8, Cl A1A |
||||||||
|
5.148%, 08/25/55 (A)(B) |
118,101 |
117,448 |
||||||
|
SBA Small Business Investment, Ser 2018-10B, Cl 1 |
||||||||
|
3.548%, 09/10/28 |
14,866 |
14,611 |
||||||
|
SBA Small Business Investment, Ser 2022-10A, Cl 1 |
||||||||
|
2.938%, 03/10/32 |
79,247 |
74,795 |
||||||
|
SBA Small Business Investment, Ser 2025-10A, Cl 1 |
||||||||
|
4.963%, 03/10/35 |
148,324 |
147,514 |
||||||
|
SBA Small Business Investment, Ser 2025-10B, Cl 1 |
||||||||
|
4.532%, 09/10/35 |
89,907 |
88,194 |
||||||
|
SBA Small Business Investment, Ser 2026-10A, Cl 1 |
||||||||
|
4.626%, 03/10/36 |
220,000 |
217,113 |
||||||
|
SCF Equipment Leasing, Ser 2025-1A, Cl A2 |
||||||||
|
4.820%, 07/22/30 (A) |
20,263 |
20,287 |
||||||
|
Small Business Administration, Ser 2025-25F, Cl 1 |
||||||||
|
5.100%, 06/01/50 |
193,119 |
191,040 |
||||||
|
SMB Private Education Loan Trust, Ser 2020-A, Cl A2A |
||||||||
|
2.230%, 09/15/37 (A) |
39,654 |
38,592 |
||||||
|
SMB Private Education Loan Trust, Ser 2021-A, Cl APT1 |
||||||||
|
1.070%, 01/15/53 (A) |
140,777 |
129,845 |
||||||
|
SMB Private Education Loan Trust, Ser 2021-A, Cl B |
||||||||
|
2.310%, 01/15/53 (A) |
33,321 |
32,341 |
||||||
|
SMB Private Education Loan Trust, Ser 2021-B, Cl A |
||||||||
|
1.310%, 07/17/51 (A) |
172,542 |
163,056 |
||||||
|
SMB Private Education Loan Trust, Ser 2021-C, Cl APT1 |
||||||||
|
1.390%, 01/15/53 (A) |
82,288 |
74,989 |
||||||
|
SMB Private Education Loan Trust, Ser 2024-A, Cl A1A |
||||||||
|
5.240%, 03/15/56 (A) |
103,266 |
103,400 |
||||||
|
SMB Private Education Loan Trust, Ser 2024-E, Cl A1A |
||||||||
|
5.090%, 10/16/56 (A) |
164,723 |
163,414 |
||||||
16
THE ADVISORS’ INNER CIRCLE FUND III
METLIFE CORE PLUS FUND
JULY 31, 2026 (Unaudited)
|
ASSET-BACKED SECURITIES — continued | ||||||||
|
|
Face Amount |
Value | ||||||
|
Sofi Professional Loan Program Trust, Ser 2018-C, Cl A2FX |
||||||||
|
3.590%, 01/25/48 (A) |
$ |
24,852 |
$ |
24,790 |
||||
|
Verizon Master Trust, Ser 2025-5, Cl B |
||||||||
|
4.420%, 06/20/31 |
130,000 |
129,039 |
||||||
|
|
||||||||
|
TOTAL ASSET-BACKED SECURITIES |
||||||||
|
(Cost $3,480,712) |
3,437,999 |
|||||||
|
|
||||||||
|
FOREIGN GOVERNMENT BONDS — 0.9% |
||||||||
|
MEXICO — 0.9% |
||||||||
|
Mexico Government International Bond Callable 11/13/54 @ 100 |
||||||||
|
3.500%, 02/12/34 |
225,000 |
187,987 |
||||||
|
5.375%, 03/22/33 |
215,000 |
206,894 |
||||||
|
6.625%, 01/29/38 |
315,000 |
312,953 |
||||||
|
7.375%, 05/13/55 |
275,000 |
278,438 |
||||||
|
|
||||||||
|
TOTAL FOREIGN GOVERNMENT BONDS |
||||||||
|
(Cost $996,794) |
986,272 |
|||||||
|
|
||||||||
|
MUNICIPAL BONDS — 0.5% |
||||||||
|
GEORGIA — 0.3% |
||||||||
|
Georgia State, Municipal Electric Authority, RB, Ser 2010-A , RB |
||||||||
|
6.637%, 04/01/57 |
351,000 |
364,120 |
||||||
|
|
||||||||
|
ARIZONA — 0.2% |
||||||||
|
Maricopa County Industrial Development Authority, RB, RB (A) Callable 09/01/29 @ 100 |
||||||||
|
7.375%, 10/01/29(A) |
195,000 |
202,392 |
||||||
|
|
||||||||
|
TOTAL MUNICIPAL BONDS |
||||||||
|
(Cost $709,407) |
566,512 |
|||||||
|
|
||||||||
|
TOTAL INVESTMENTS — 98.1% |
||||||||
|
(Cost $114,301,752) |
$ |
108,980,774 |
||||||
17
THE ADVISORS’ INNER CIRCLE FUND III
METLIFE CORE PLUS FUND
JULY 31, 2026 (Unaudited)
Open futures contracts held by the Fund at July 31, 2026 are as follows:
|
Type of Contract |
Number of Contracts |
Expiration Date |
Notional Amount |
Value |
Unrealized Appreciation/ (Depreciation) | |||||||||||||||
|
Long Contracts | ||||||||||||||||||||
|
U.S. 2-Year Treasury Note |
41 |
Sep-2026 |
$ |
8,451,276 |
$ |
8,429,984 |
$ |
(21,292 |
) | |||||||||||
|
U.S. 5-Year Treasury Note |
51 |
Sep-2026 |
5,458,017 |
5,404,805 |
(53,212 |
) | ||||||||||||||
|
|
$ |
13,909,293 |
$ |
13,834,789 |
$ |
(74,504 |
) | |||||||||||||
|
Short Contracts | ||||||||||||||||||||
|
Ultra 10-Year U.S. Treasury Notes |
(51 |
) |
Sep-2026 |
$ |
(5,675,226 |
) | $ |
(5,594,859 |
) | $ |
80,367 |
|||||||||
|
|
$ |
8,234,067 |
$ |
8,239,930 |
$ |
5,863 |
||||||||||||||
Percentages are based on Net Assets of $111,060,960.
| (A) | Securities sold within terms of a private placement memorandum, exempt from registration under Section 144A of the Securities Act of 1933, as amended, and may be sold only to dealers in that program or other "accredited investors." The total value of these securities at July 31, 2026 was $21,398,768 and represents 19.3% of Net Assets. |
| (B) | Variable or floating rate security, the interest rate of which adjusts periodically based on changes in current interest rates and prepayments on the underlying pool of assets. |
| (C) | Perpetual security with no stated maturity date. |
| (D) | Step coupon security. Coupon rate will either increase (step-up bond) or decrease (step-down bond) at regular intervals until maturity. Interest rate shown reflects the rate currently in effect. |
| (E) | Security, or portion thereof, has been pledged as collateral on open futures contracts. |
18
THE ADVISORS’ INNER CIRCLE FUND III
METLIFE CORE PLUS FUND
JULY 31, 2026 (Unaudited)
Cl — Class
DAC — Designated Activity Company
FHLMC — Federal Home Loan Mortgage Corporation
FNMA — Federal National Mortgage Association
GNMA — Government National Mortgage Association
H15T1Y — US Treasury Yield Curve Rate T Note Constant Maturity 1 Year Rate
H15T5Y — US Treasury Yield Curve Rate T Note Constant Maturity 5 Year Rate
H15T10Y — US Treasury Yield Curve Rate T Note Constant Maturity 10 Year Rate
IO — Interest Only - face amount represents notional amount
LLC — Limited Liability Company
MTN — Medium Term Note
RB — Revenue Bond
Ser — Series
SOFR — Secured Overnight Financing Rate
SOFR30A — Secured Overnight Financing Rate 30-day Average
SOFRINDX — Secured Overnight Financing Rate Index
TBA — To Be Announced
TSFR1M — One Month Term Secured Overnight Financing Rate
TSFR3M — Three Month Term Secured Overnight Financing Rate
UMBS — Uniform Mortgage-Backed Security
US0003M — ICE LIBOR USD 3 Month
USISSO05 — 5-Year USD SOFR ICE Swap Rate Index
USSW5 — USD Swap Semi 30/360 5-Year
MIM-QH-001-1200
19