NPORT-P
false
0001593547
XXXXXXXX
S000067439
C000216813
C000216812
ADVISORS' INNER CIRCLE III
811-22920
0001593547
549300TG800HOPJVWT31
ONE FREEDOM VALLEY DRIVE
OAKS
19456
8774463863
Aperture Discover Equity Fund
S000067439
549300BDKNX25UW0P190
2023-12-31
2023-03-31
N
330777899.93
36160333.93
294617566.00
0.00000000
0.00000000
0.00000000
0.00000000
0.00000000
0.00000000
0.00000000
0.00000000
0.00000000
0.00000000
0.00000000
0.00000000
0.00000000
2406759.36000000
N
Russell 2000
RU2000
EnPro Industries, Inc.
549300Y5CFT2LKCFDN54
ENPRO INDUSTRIES INC COMMON STOCK
29355X107
112495.00000000
NS
USD
11687105.55000000
3.966873295667
Long
EC
US
N
1
N
N
N
The Descartes Systems Group Inc.
N/A
DESCARTES SYSTEMS GRP/THE COMMON STOCK
249906108
228110.00000000
NS
18410831.52000000
6.249061035281
Long
EC
CA
N
1
N
N
N
BRK: MORGAN STANLEY
N/A
BRK: MORGAN STANLEY PAY: RALPH LAUREN CORP
TRSRL0001
281035.47340000
NC
USD
15494.55000000
0.005259207796
N/A
DE
US
N
2
BRK: MORGAN STANLEY
N/A
Y
2025-01-27
0.00000000
USD
0.00000000
USD
-2276.00000000
USD
15494.55000000
N
N
N
BRK: MORGAN STANLEY
N/A
BRK: MORGAN STANLEY REC: RH
TRSRH0004
3262.00000000
NC
USD
-78126.21000000
-0.02651783838
N/A
DE
US
N
2
BRK: MORGAN STANLEY
N/A
Y
2024-07-17
0.00000000
USD
0.00000000
USD
-872586.31000000
USD
-78126.21000000
N
N
N
OPTION CARE HEALTH, INC.
549300DI3Q5ACSYJRI17
OPTION CARE HEALTH INC COMMON STOCK
68404L201
490732.00000000
NS
USD
15590555.64000000
5.291794325664
Long
EC
US
N
1
N
N
N
TREX COMPANY, INC.
N/A
TREX COMPANY INC COMMON STOCK
89531P105
248058.00000000
NS
USD
12072982.86000000
4.097848958537
Long
EC
US
N
1
N
N
N
Progyny Inc
N/A
PROGYNY INC COMMON STOCK
74340E103
314298.00000000
NS
USD
10095251.76000000
3.426561388400
Long
EC
US
N
1
N
N
N
YETI HOLDINGS, INC.
549300DSQICIGNT5GO63
YETI HOLDINGS INC COMMON STOCK
98585X104
280089.00000000
NS
USD
11203560.00000000
3.802746778513
Long
EC
US
N
1
N
N
N
BRK: MORGAN STANLEY
N/A
BRK: MORGAN STANLEY REC: RH
TRSRH0005
6436.00000000
NC
USD
-569950.28000000
-0.19345427624
N/A
DE
US
N
2
BRK: MORGAN STANLEY
N/A
Y
2025-02-03
0.00000000
USD
0.00000000
USD
-2137438.08000000
USD
-569950.28000000
N
N
N
BRK: MORGAN STANLEY
N/A
BRK: MORGAN STANLEY PAY: SPROUTS FARMER MARKETS INC
TRSSFM014
968154.16000000
NC
USD
-427651.22000000
-0.14515469182
N/A
DE
US
N
2
BRK: MORGAN STANLEY
N/A
Y
2024-05-08
0.00000000
USD
0.00000000
USD
-39846.00000000
USD
-427651.22000000
N
N
N
THE NEW YORK TIMES COMPANY
529900J1WEMMIW7BOH57
NEW YORK TIMES CO-A COMMON STOCK
650111107
316062.00000000
NS
USD
12288490.56000000
4.170997244611
Long
EC
US
N
1
N
N
N
LINDBLAD EXPEDITIONS HOLDINGS, INC.
549300GSPW24GZE6R597
LINDBLAD EXPEDITIONS HOLDING COMMON STOCK
535219109
1105164.00000000
NS
USD
10565367.84000000
3.586129633560
Long
EC
US
N
1
N
N
N
BRK: MORGAN STANLEY
N/A
BRK: MORGAN STANLEY PAY: MSAISCHB
N/A
722480.56390000
NC
USD
0.00000000
0.000000
N/A
DE
US
N
2
BRK: MORGAN STANLEY
N/A
Y
2022-04-04
0.00000000
USD
0.00000000
USD
0.00000000
USD
0.00000000
N
N
N
DoubleVerify Holdings Inc
N/A
DOUBLEVERIFY HOLDINGS INC COMMON STOCK
25862V105
470887.00000000
NS
USD
14197243.05000000
4.818871882880
Long
EC
US
N
1
N
N
N
VAIL RESORTS, INC.
529900PSZHRNU9HKH870
VAIL RESORTS INC COMMON STOCK
91879Q109
69243.00000000
NS
USD
16180704.24000000
5.492104377781
Long
EC
US
N
1
N
N
N
U.S. DOLLARS
N/A
FX Forward Contract: USD/CAD SETTLE 2023-06-21
N/A
1.00000000
NC
USD
-398204.97000000
-0.13515995512
N/A
DFE
US
N
2
MORGAN STANLEY SMITH BARNEY LLC
N/A
23800000.00000000
CAD
17234743.36000000
USD
2023-06-21
-398204.97000000
N
N
N
BRK: MORGAN STANLEY
N/A
BRK: MORGAN STANLEY REC: HELEN OF TROY LTD
TRSHELE01
531603.91320000
NC
USD
63653.02000000
0.021605303738
N/A
DE
US
N
2
BRK: MORGAN STANLEY
N/A
Y
2025-01-27
0.00000000
USD
0.00000000
USD
-4917.00000000
USD
63653.02000000
N
N
N
N/A
N/A
N/A
122017106
1007399.76000000
NC
USD
114724.06000000
0.038939993143
N/A
DE
US
N
2
N/A
N/A
Y
2025-01-31
0.00000000
USD
0.00000000
USD
-4417.00000000
USD
114724.06000000
N
N
N
BRK: MORGAN STANLEY
N/A
BRK: MORGAN STANLEY REC: RH
TRSRH0001
14550.00000000
NC
USD
-345853.50000000
-0.11739065823
N/A
DE
US
N
2
BRK: MORGAN STANLEY
N/A
Y
2024-07-17
0.00000000
USD
0.00000000
USD
-3889506.00000000
USD
-345853.50000000
N
N
N
BRK: MORGAN STANLEY
N/A
BRK: MORGAN STANLEY REC: RH
TRSRH0009
1700.00000000
NC
USD
6785.89000000
0.002303287645
N/A
DE
US
N
2
BRK: MORGAN STANLEY
N/A
Y
2025-03-31
0.00000000
USD
0.00000000
USD
-407249.11000000
USD
6785.89000000
N
N
N
BRK: MORGAN STANLEY
N/A
BRK: MORGAN STANLEY REC: RH
TRSRH0002
10617.00000000
NC
USD
-284417.75000000
-0.09653794709
N/A
DE
US
N
2
BRK: MORGAN STANLEY
N/A
Y
2024-07-17
0.00000000
USD
0.00000000
USD
-2870188.10000000
USD
-284417.75000000
N
N
N
BRK: MORGAN STANLEY
N/A
BRK: MORGAN STANLEY PAY: SPROUTS FARMER MARKETS INC
TRSSFM015
987808.44000000
NC
USD
-308021.32000000
-0.10454954339
N/A
DE
US
N
2
BRK: MORGAN STANLEY
N/A
Y
2024-05-08
0.00000000
USD
0.00000000
USD
-36992.00000000
USD
-308021.32000000
N
N
N
SKYLINE CHAMPION CORPORATION
N/A
SKYLINE CHAMPION CORP COMMON STOCK
830830105
197366.00000000
NS
USD
14847844.18000000
5.039700918579
Long
EC
US
N
1
N
N
N
BRK: MORGAN STANLEY
N/A
BRK: MORGAN STANLEY PAY: SPROUTS FARMER MARKETS INC
TRSSFM017
586490.39000000
NC
USD
-70111.93000000
-0.02379760682
N/A
DE
US
N
2
BRK: MORGAN STANLEY
N/A
Y
2024-05-08
0.00000000
USD
0.00000000
USD
-18744.00000000
USD
-70111.93000000
N
N
N
SITEONE LANDSCAPE SUPPLY, INC.
5299008LX7SBD4HIAU03
SITEONE LANDSCAPE SUPPLY INC COMMON STOCK
82982L103
104039.00000000
NS
USD
14239817.93000000
4.833322779538
Long
EC
US
N
1
N
N
N
BRK: MORGAN STANLEY
N/A
BRK: MORGAN STANLEY PAY: HELEN OF TROY LTD
TRSHELE03
721855.61000000
NC
USD
50431.26000000
0.017117533310
N/A
DE
US
N
2
BRK: MORGAN STANLEY
N/A
Y
2025-03-13
0.00000000
USD
0.00000000
USD
-7055.00000000
USD
50431.26000000
N
N
N
BRK: MORGAN STANLEY
N/A
BRK: MORGAN STANLEY REC: RH
TRSRH0003
3757.00000000
NC
USD
-80893.47000000
-0.02745711027
N/A
DE
US
N
2
BRK: MORGAN STANLEY
N/A
Y
2024-07-17
0.00000000
USD
0.00000000
USD
-995910.82000000
USD
-80893.47000000
N
N
N
BRK: MORGAN STANLEY
N/A
BRK: MORGAN STANLEY REC: RH
TRSRH0008
3113.00000000
NC
USD
-185583.37000000
-0.06299127798
N/A
DE
US
N
2
BRK: MORGAN STANLEY
N/A
Y
2025-02-27
0.00000000
USD
0.00000000
USD
-943754.52000000
USD
-185583.37000000
N
N
N
N/A
N/A
N/A
TRSHELE02
1002174.14000000
NC
USD
131463.81000000
0.044621850551
N/A
DE
US
N
2
N/A
N/A
Y
2025-01-31
0.00000000
USD
0.00000000
USD
-9149.00000000
USD
131463.81000000
N
N
N
BRUNSWICK CORPORATION
YM4O38W15AX4YLLQKU27
BRUNSWICK CORP COMMON STOCK
117043109
76456.00000000
NS
USD
6269392.00000000
2.127976306748
Long
EC
US
N
1
N
N
N
BRK: MORGAN STANLEY
N/A
BRK: MORGAN STANLEY PAY: CHEFS' WAREHOUSE INC/THE
TRSCHEF04
201197.82000000
NC
USD
-22170.18000000
-0.00752507065
N/A
DE
US
N
2
BRK: MORGAN STANLEY
N/A
Y
2025-03-14
0.00000000
USD
0.00000000
USD
-6560.00000000
USD
-22170.18000000
N
N
N
United States of America
254900HROIFWPRGM1V77
TREASURY BILL 0.000000% 04/13/2023
912796YU7
5000000.00000000
PA
USD
4993767.35000000
1.694999866369
Long
DBT
UST
US
N
2
2023-04-13
None
0.00000000
N
N
N
N
N
N
BRK: MORGAN STANLEY
N/A
BRK: MORGAN STANLEY PAY: BURLINGTON STORES INC
TRSBURL01
533199.01390000
NC
USD
52201.01000000
0.017718227296
N/A
DE
US
N
2
BRK: MORGAN STANLEY
N/A
Y
2025-01-27
0.00000000
USD
0.00000000
USD
-2380.00000000
USD
52201.01000000
N
N
N
BRK: MORGAN STANLEY
N/A
BRK: MORGAN STANLEY PAY: CHEFS' WAREHOUSE INC/THE
TRSCHEF03
495709.42000000
NC
USD
-42246.53000000
-0.01433944709
N/A
DE
US
N
2
BRK: MORGAN STANLEY
N/A
Y
2025-03-13
0.00000000
USD
0.00000000
USD
-15799.00000000
USD
-42246.53000000
N
N
N
BRK: MORGAN STANLEY
N/A
BRK: MORGAN STANLEY PAY: SPROUTS FARMER MARKETS INC
TRSSFM013
997305.74000000
NC
USD
-413772.72000000
-0.14044400869
N/A
DE
US
N
2
BRK: MORGAN STANLEY
N/A
Y
2024-05-08
0.00000000
USD
0.00000000
USD
-40282.00000000
USD
-413772.72000000
N
N
N
BRK: MORGAN STANLEY
N/A
BRK: MORGAN STANLEY REC: RH
TRSRH0006
3123.00000000
NC
USD
-312182.58000000
-0.10596197105
N/A
DE
US
N
2
BRK: MORGAN STANLEY
N/A
Y
2025-02-06
0.00000000
USD
0.00000000
USD
-1072789.23000000
USD
-312182.58000000
N
N
N
United States of America
254900HROIFWPRGM1V77
TREASURY BILL 0.000000% 05/25/2023
912796ZF9
14500000.00000000
PA
USD
14403027.19000000
4.888719768325
Long
DBT
UST
US
N
2
2023-05-25
None
0.00000000
N
N
N
N
N
N
BRK: MORGAN STANLEY
N/A
BRK: MORGAN STANLEY PAY: CHEFS' WAREHOUSE INC/THE
TRSCHEF01
553412.07930000
NC
USD
55907.52000000
0.018976302315
N/A
DE
US
N
2
BRK: MORGAN STANLEY
N/A
Y
2025-02-13
0.00000000
USD
0.00000000
USD
-14611.00000000
USD
55907.52000000
N
N
N
MONTROSE ENVIRONMENTAL GROUP, INC.
254900ASI8K3LUB8Q958
MONTROSE ENVIRONMENTAL GROUP COMMON STOCK
615111101
441369.00000000
NS
USD
15743632.23000000
5.343752052448
Long
EC
US
N
1
N
N
N
INGEVITY CORPORATION
5493009UTFC4B5IMGF87
INGEVITY CORP COMMON STOCK
45688C107
203314.00000000
NS
USD
14541017.28000000
4.935556788898
Long
EC
US
N
1
N
N
N
BRK: MORGAN STANLEY
N/A
BRK: MORGAN STANLEY REC: RH
TRSRH0007
3409.00000000
NC
USD
-255141.15000000
-0.08660079351
N/A
DE
US
N
2
BRK: MORGAN STANLEY
N/A
Y
2025-02-07
94.99000000
USD
0.00000000
USD
-1085403.10000000
USD
-255236.14000000
N
N
N
BRK: MORGAN STANLEY
N/A
BRK: MORGAN STANLEY PAY: SPROUTS FARMERS MARKET INC
TRSSFM012
548512.09720000
NC
USD
-143750.77000000
-0.04879232828
N/A
DE
US
N
2
BRK: MORGAN STANLEY
N/A
Y
2023-04-12
0.00000000
USD
0.00000000
USD
-19762.00000000
USD
-143750.77000000
N
N
N
DRIVEN BRANDS HOLDINGS INC.
N/A
DRIVEN BRANDS HOLDINGS INC COMMON STOCK
26210V102
437550.00000000
NS
USD
13262140.50000000
4.501476500555
Long
EC
US
N
1
N
N
N
BRK: MORGAN STANLEY
N/A
BRK: MORGAN STANLEY PAY: SPROUTS FARMER MARKETS INC
TRSSFM018
563810.76000000
NC
USD
-41682.79000000
-0.01414810072
N/A
DE
US
N
2
BRK: MORGAN STANLEY
N/A
Y
2024-05-08
0.00000000
USD
0.00000000
USD
-17285.00000000
USD
-41682.79000000
N
N
N
BRK: MORGAN STANLEY
N/A
BRK: MORGAN STANLEY PAY: BURLINGTON STORES INC
TRSBURL03
726830.80000000
NC
USD
10992.60000000
0.003731142086
N/A
DE
US
N
2
BRK: MORGAN STANLEY
N/A
Y
2025-03-13
0.00000000
USD
0.00000000
USD
-3542.00000000
USD
10992.60000000
N
N
N
FEDERAL SIGNAL CORPORATION
549300RTXZRPTNP6G884
FEDERAL SIGNAL CORP COMMON STOCK
313855108
235703.00000000
NS
USD
12777459.63000000
4.336964629597
Long
EC
US
N
1
N
N
N
Sprout Social Inc
N/A
SPROUT SOCIAL INC - CLASS A COMMON STOCK
85209W109
146727.00000000
NS
USD
8932739.76000000
3.031977991427
Long
EC
US
N
1
N
N
N
BRK: MORGAN STANLEY
N/A
BRK: MORGAN STANLEY PAY: BOSTON BEER COMPANY INC-A
TRSSAM001
1578913.45640000
NC
USD
133619.55000000
0.045353558450
N/A
DE
US
N
2
BRK: MORGAN STANLEY
N/A
Y
2025-02-13
0.00000000
USD
0.00000000
USD
-4397.00000000
USD
133619.55000000
N
N
N
BRK: MORGAN STANLEY
N/A
BRK: MORGAN STANLEY PAY: RALPH LAUREN CORP
TRSRL0003
1034386.90000000
NC
USD
4657.48000000
0.001580856180
N/A
DE
US
N
2
BRK: MORGAN STANLEY
N/A
Y
2025-02-10
0.00000000
USD
0.00000000
USD
-8826.00000000
USD
4657.48000000
N
N
N
BRK: MORGAN STANLEY
N/A
BRK: MORGAN STANLEY PAY: :SPROUTS FARMERS MARKET INC
TRSSFM019
457393.46000000
NC
USD
41.78000000
0.000014181096
N/A
DE
US
N
2
BRK: MORGAN STANLEY
N/A
Y
2025-03-03
0.00000000
USD
0.00000000
USD
-13056.00000000
USD
41.78000000
N
N
N
N/A
N/A
E-MINI RUSS 2000 JUN23 PHYSICAL INDEX FUTURE.
N/A
135.00000000
NC
USD
12241125.00000000
4.154920280618
N/A
DE
US
N
1
J.P. MORGAN SECURITIES
N/A
Long
Russell 2000 E-mini Composite Index Futures Jun 2023
N/A
N/A
2023-06-19
11952254.21000000
USD
288870.79000000
N
N
N
BRK: MORGAN STANLEY
N/A
BRK: MORGAN STANLEY PAY: SPROUTS FARMER MARKETS INC
TRSSFM016
1008673.76000000
NC
USD
-343869.57000000
-0.11671726661
N/A
DE
US
N
2
BRK: MORGAN STANLEY
N/A
Y
2024-05-08
0.00000000
USD
0.00000000
USD
-38611.00000000
USD
-343869.57000000
N
N
N
MALIBU BOATS, INC.
N/A
MALIBU BOATS INC - A COMMON STOCK
56117J100
143983.00000000
NS
USD
8127840.35000000
2.758776559168
Long
EC
US
N
1
N
N
N
HILLMAN SOLUTIONS CORP.
N/A
HILLMAN SOLUTIONS CORP COMMON STOCK
431636109
1658894.00000000
NS
USD
13967887.48000000
4.741023310198
Long
EC
US
N
1
N
N
N
BRK: MORGAN STANLEY
N/A
BRK: MORGAN STANLEY PAY: RALPH LAUREN CORP
TRSRL0002
1007099.02000000
NC
USD
51455.05000000
0.017465031260
N/A
DE
US
N
2
BRK: MORGAN STANLEY
N/A
Y
2025-01-31
0.00000000
USD
0.00000000
USD
-8191.00000000
USD
51455.05000000
N
N
N
WESCO INTERNATIONAL, INC.
529900TXOGREY3WNJ434
WESCO INTERNATIONAL INC COMMON STOCK
95082P105
76917.00000000
NS
USD
11886753.18000000
4.034638308022
Long
EC
US
N
1
N
N
N
ATKORE INC
52990002TI38AM4RPV48
Atkore Inc COMMON STOCK
047649108
48800.00000000
NS
USD
6855424.00000000
2.326889089837
Long
EC
US
N
1
N
N
N
BRK: MORGAN STANLEY
N/A
BRK: MORGAN STANLEY PAY: CHEFS' WAREHOUSE INC/THE
TRSCHEF02
1049984.06000000
NC
USD
87901.31000000
0.029835732876
N/A
DE
US
N
2
BRK: MORGAN STANLEY
N/A
Y
2025-02-16
0.00000000
USD
0.00000000
USD
-28255.00000000
USD
87901.31000000
N
N
N
2023-03-31
THE ADVISORS' INNER CIRCLE III
Andy Metzger
Andy Metzger
CFO
XXXX