ABSA GROUP LTD COMMON STOCK

NPORT-P false 0001593547 XXXXXXXX S000071562 C000226875 ADVISORS' INNER CIRCLE III 811-22920 0001593547 549300TG800HOPJVWT31 ONE FREEDOM VALLEY DRIVE OAKS 19456 8774463863 ARGA Emerging Markets Value Fund S000071562 54930048ZFLXP7RHY777 2025-12-31 2025-06-30 N 1174068174.88 2384755.69 1171683419.19 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 55082037.75000000 N ABSA GROUP LIMITED 2138006IPPRD4N6XLT30 ABSA GROUP LTD COMMON STOCK N/A 1735632.00000000 NS 17275451.39000000 1.474412892344 Long EC ZA N 1 N N N Alibaba Group Holding Limited 5493001NTNQJDH60PM02 ALIBABA GROUP HOLDING LTD COMMON STOCK N/A 1256000.00000000 NS 17779872.61000000 1.517463874524 Long EC HK N 1 N N N Alibaba Group Holding Limited 5493001NTNQJDH60PM02 ALIBABA GROUP HOLDING-SP ADR DEPOSITARY RECEIPT 01609W102 146642.00000000 NS USD 16630669.22000000 1.419382484007 Long EC US N 1 N N N AK ALROSA PAO 894500DKUWVBYZLLE651 ALROSA PJSC COMMON STOCK N/A 506080.00000000 NS 0.64716113 0.000000055233 Long EC RU N 3 N N N B3 S.A - Brasil, Bolsa, Balcao 4GTK5S46E6H318LMDS44 B3 SA-BRASIL BOLSA BALCAO COMMON STOCK N/A 12813500.00000000 NS 34291341.96000000 2.926672973123 Long EC BR N 1 N N N Banco Bradesco S.A. 549300CTUU1RFXHQJE44 BANCO BRADESCO S.A. COMMON STOCK N/A 9858940.00000000 NS 26257359.85000000 2.240994403432 Long EC BR N 1 N N N Banco Bradesco S.A. 549300CTUU1RFXHQJE44 BANCO BRADESCO-ADR DEPOSITARY RECEIPT 059460303 9053719.00000000 NS USD 27975991.71000000 2.387674968494 Long EC US N 1 N N N PT Bank Rakyat Indonesia (Persero) Tbk 254900HB6S4B12GBNP64 BANK RAKYAT INDONESIA PERSER COMMON STOCK N/A 67875600.00000000 NS 15649423.35000000 1.335635812002 Long EC ID N 1 N N N Beijing New Building Materials Public Limited Company 3003000VY5ALEC09Q824 BEIJING NEW BUILDING MATER-A COMMON STOCK N/A 5790429.00000000 NS 21408216.04000000 1.827133139325 Long EC CN N 1 N N N Beijing Oriental Yuhong Waterproof Technology Co., Ltd. 300300XMIXB7STDZWT60 BEIJING ORIENTAL YUHONG-A COMMON STOCK N/A 8600312.00000000 NS 12885528.63000000 1.099744898575 Long EC CN N 1 N N N BUDWEISER BREWING COMPANY APAC LIMITED 549300YF1MR4GTF18132 BUDWEISER BREWING CO APAC LT COMMON STOCK N/A 20352300.00000000 NS 20207465.89000000 1.724652372734 Long EC HK Y 1 N N N CHAILEASE HOLDING COMPANY LIMITED 529900L76E6T0JCM3J27 CHAILEASE HOLDING CO LTD COMMON STOCK N/A 2025068.00000000 NS 8771010.20000000 0.748581916953 Long EC TW N 1 N N N CHINA JUSHI CO., LTD 300300JZBQ0FKI1TDH04 CHINA JUSHI CO LTD -A COMMON STOCK N/A 11559734.00000000 NS 18387788.41000000 1.569347838233 Long EC CN N 1 N N N CHINA OVERSEAS LAND & INVESTMENT LTD. 529900I6W35GYKRIZ151 CHINA OVERSEAS LAND & INVEST COMMON STOCK N/A 19824969.00000000 NS 34558782.82000000 2.949498324717 Long EC HK N 1 N N N CREDICORP LTD. 529900UYAEYQCQ2BKB17 CREDICORP LTD COMMON STOCK G2519Y108 60993.00000000 NS USD 13633155.36000000 1.163552810999 Long EC US N 1 N N N DB INSURANCE CO.,LTD 9884000ZF26VNJBWSJ91 DB INSURANCE CO LTD COMMON STOCK N/A 90745.00000000 NS 8280716.16000000 0.706736651247 Long EC KR N 1 N N N BROWN BROTHERS HARRIMAN & CO. 5493006KMX1VFTPYPW14 FX Forward Contract: USD/HKD SETTLE 2025-07-02 N/A 1.00000000 NC USD -1.73000000 -0.00000014765 N/A DFE US N 2 BROWN BROTHERS HARRIMAN & CO. 5493006KMX1VFTPYPW14 2126640.99000000 HKD 270909.68000000 USD 2025-07-02 -1.73000000 N N N Galaxy Entertainment Group Limited 549300ZSEBV3HR826S10 GALAXY ENTERTAINMENT GROUP L COMMON STOCK N/A 2817000.00000000 NS 12557058.08000000 1.071710828568 Long EC HK N 1 N N N Gree Electric Appliances, Inc. of Zhuhai 655600UY069MU9JRAN62 GREE ELECTRIC APPLIANCES I-A COMMON STOCK N/A 4572156.00000000 NS 28675108.89000000 2.447342722475 Long EC CN N 1 N N N Hana Financial Group Inc. N/A HANA FINANCIAL GROUP COMMON STOCK N/A 279187.00000000 NS 17783659.05000000 1.517787036902 Long EC KR N 1 N N N HDFC BANK LIMITED 335800ZQ6I4E2JXENC50 HDFC BANK LIMITED COMMON STOCK N/A 1462910.00000000 NS 34152310.39000000 2.914807005941 Long EC IN N 1 N N N HENGLI PETROCHEMICAL CO., LTD. N/A HENGLI PETROCHEMICAL CO L-A COMMON STOCK N/A 13545399.00000000 NS 26960744.78000000 2.301026398294 Long EC CN N 1 N N N HINDALCO INDUSTRIES LIMITED 335800KXLE5NO5B4GF90 HINDALCO INDUSTRIES LTD COMMON STOCK Y3196V185 1460249.00000000 NS 11814047.46000000 1.008296888605 Long EC IN N 1 N N N HYUNDAI MOBIS CO.,LTD 988400HJA9E0ZVDHRS65 HYUNDAI MOBIS CO LTD COMMON STOCK N/A 102019.00000000 NS 21643147.77000000 1.847183924900 Long EC KR N 1 N N N INDUSTRIAL AND COMMERCIAL BANK OF CHINA LIMITED 5493002ERZU2K9PZDL40 IND & COMM BK OF CHINA-H COMMON STOCK N/A 28050000.00000000 NS 22273264.02000000 1.900962636767 Long EC HK N 1 N N N INDIAN OIL CORPORATION LIMITED 335800J8OBWE4VFUDG88 INDIAN OIL CORP LTD COMMON STOCK Y3925Y112 7985145.00000000 NS 13689676.16000000 1.168376707887 Long EC IN N 1 N N N KASIKORNBANK PUBLIC COMPANY LIMITED 5493004COSQ54937AW41 KASIKORNBANK PCL-FOREIGN COMMON STOCK N/A 4799500.00000000 NS 22670920.19000000 1.934901511679 Long EC TH N 2 N N N KB Financial Group Inc. 529900TKE4MXG3Q6GW86 KB FINANCIAL GROUP INC COMMON STOCK N/A 221341.00000000 NS 18188978.99000000 1.552379993784 Long EC KR N 1 N N N LAS VEGAS SANDS CORP. 549300DUOO1KXOHPM605 LAS VEGAS SANDS CORP COMMON STOCK 517834107 843103.00000000 NS USD 36683411.53000000 3.130829619092 Long EC US N 1 N N N Li Ning Co Ltd 529900T77L2FV3FZ3U81 LI NING CO LTD COMMON STOCK N/A 9385000.00000000 NS 20338850.83000000 1.735865720798 Long EC HK N 1 N N N Localiza Rent a Car S.A. 984500C442A7E0CD4D11 LOCALIZA RENT A CAR COMMON STOCK N/A 2468100.00000000 NS 18529715.82000000 1.581460957500 Long EC BR N 1 N N N Lojas Renner S.A. N/A LOJAS RENNER S.A. COMMON STOCK N/A 3272940.00000000 NS 11825258.54000000 1.009253723857 Long EC BR N 1 N N N MELCO RESORTS & ENTERTAINMENT LIMITED 529900NRV6LBR3T6B421 MELCO RESORTS & ENTERT-ADR DEPOSITARY RECEIPT 585464100 1338151.00000000 NS USD 9674831.73000000 0.825720631660 Long EC US N 1 N N N MTN GROUP LIMITED 2549009JD6Q6XHZS5E05 MTN GROUP LTD COMMON STOCK N/A 4733609.00000000 NS 37680625.23000000 3.215939102052 Long EC ZA N 1 N N N NASPERS LIMITED 21380044BQ8812EEKT59 NASPERS LTD-N SHS COMMON STOCK N/A 45168.00000000 NS 14093030.38000000 1.202801895903 Long EC ZA N 1 N N N OTP Bank Nyrt. 529900W3MOO00A18X956 OTP BANK PLC COMMON STOCK N/A 162862.00000000 NS 13017576.76000000 1.111014848106 Long EC HU N 1 N N N Petroleo Brasileiro S.A. (Petrobras) 5493000J801JZRCMFE49 PETROLEO BRASILEIRO-SPON ADR DEPOSITARY RECEIPT 71654V408 1267747.00000000 NS USD 15859514.97000000 1.353566561602 Long EC US N 1 N N N PICC Property and Casualty Company Limited 300300F1000311000017 PICC PROPERTY & CASUALTY-H COMMON STOCK N/A 8500000.00000000 NS 16516986.86000000 1.409680003103 Long EC HK N 1 N N N Ping An Insurance (Group) Company of China, Ltd. 529900M9MC28JLN35U89 PING AN INSURANCE GROUP CO-H COMMON STOCK N/A 5030500.00000000 NS 32111286.88000000 2.740611188489 Long EC HK N 1 N N N PRIO S.A. 549300IQAZIWK5RVZX23 PRIO SA COMMON STOCK N/A 3208200.00000000 NS 24989605.20000000 2.132794984610 Long EC BR N 1 N N N SAMSUNG ELECTRO-MECHANICS CO.,LTD N/A SAMSUNG ELECTRO-MECHANICS CO COMMON STOCK N/A 177982.00000000 NS 17683514.14000000 1.509239940616 Long EC KR N 1 N N N Samsung Electronics Co., Ltd. 9884007ER46L6N7EI764 SAMSUNG ELECTRONICS CO LTD COMMON STOCK N/A 778423.00000000 NS 34423127.24000000 2.937920489119 Long EC KR N 1 N N N SANDS CHINA LTD. 549300EVO6UZDGY05787 SANDS CHINA LTD COMMON STOCK N/A 8602400.00000000 NS 17978418.21000000 1.534409202652 Long EC HK N 1 N N N SCB X PUBLIC COMPANY LIMITED 254900TG41KIWX7VDO42 SCB X PCL-FOREIGN COMMON STOCK N/A 6358300.00000000 NS 22993359.59000000 1.962420839401 Long EC TH N 2 N N N Sendas Distribuidora S.A. N/A SENDAS DISTRIBUIDORA SA COMMON STOCK N/A 9876500.00000000 NS 20596113.64000000 1.757822403447 Long EC BR N 1 N N N SINO BIOPHARMACEUTICAL LIMITED 529900LPR4ADFEJAR786 SINO BIOPHARMACEUTICAL COMMON STOCK N/A 18025151.00000000 NS 12126282.88000000 1.034945334327 Long EC HK N 1 N N N SITC International Holdings Co Ltd 529900JUV4MOM9CE3V12 SITC INTERNATIONAL HOLDINGS COMMON STOCK N/A 2999642.00000000 NS 9616832.50000000 0.820770554784 Long EC HK N 1 N N N SK hynix Inc. 988400XAIK6XISWQV045 SK HYNIX INC COMMON STOCK N/A 178369.00000000 NS 38435239.66000000 3.280343395707 Long EC KR N 1 N N N Taiwan Semiconductor Manufacturing Co., Ltd. 549300KB6NK5SBD14S87 TAIWAN SEMICONDUCTOR MANUFAC COMMON STOCK N/A 763000.00000000 NS 27902417.18000000 2.381395582032 Long EC TW N 1 N N N Taiwan Semiconductor Manufacturing Co., Ltd. 549300KB6NK5SBD14S87 TAIWAN SEMICONDUCTOR-SP ADR DEPOSITARY RECEIPT 874039100 96067.00000000 NS USD 21758214.83000000 1.857004586191 Long EC US N 1 N N N Tencent Holdings Limited 254900N4SLUMW4XUYY11 TENCENT HOLDINGS LTD COMMON STOCK N/A 358300.00000000 NS 23087280.45000000 1.970436729911 Long EC HK N 1 N N N TRIP.COM GROUP LIMITED 2549004RMYDSRQL4KW41 TRIP.COM GROUP LTD-ADR DEPOSITARY RECEIPT 89677Q107 381071.00000000 NS USD 22346003.44000000 1.907170748857 Long EC US N 1 N N N VALE S.A. 254900SMTWBX7RU2SR20 VALE SA COMMON STOCK N/A 2223500.00000000 NS 21567512.10000000 1.840728625733 Long EC BR N 1 N N N WH GROUP LIMITED 254900A4AYEDRWYSE928 WH GROUP LTD COMMON STOCK N/A 11718806.00000000 NS 11294492.95000000 0.963954321194 Long EC HK Y 1 N N N WONIK IPS CO., LTD. N/A WONIK IPS CO LTD COMMON STOCK N/A 179917.00000000 NS 3510171.67000000 0.299583625790 Long EC KR N 1 N N N YAGEO CORPORATION 5493001P0TOZH7GGNQ21 YAGEO CORPORATION COMMON STOCK N/A 1620237.00000000 NS 26886048.27000000 2.294651253884 Long EC TW N 1 N N N ZHEN DING TECHNOLOGY HOLDING LIMITED 549300H7R4K33675UP38 ZHEN DING TECHNOLOGY HOLDING COMMON STOCK N/A 1362682.00000000 NS 4689508.19000000 0.400236797175 Long EC TW N 1 N N N 2025-06-30 THE ADVISORS' INNER CIRCLE III Andrew Metzger Andrew Metzger Treasurer, Controller and Chief Financial Officer